Schedule of Investments (unaudited)	iShares® MSCI Austria ETF
May 31, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Aerospace & Defense — 0.7%
FACC AG(a)(b)		73,201	$	601,560
Air Freight & Logistics — 2.2%
Oesterreichische Post AG(b)		60,937		1,865,892
Banks — 26.0%
BAWAG Group AG(c)		74,612		3,817,700
Erste Group Bank AG		499,380		15,591,617
Raiffeisen Bank International AG		203,536		2,707,020
				22,116,337
Chemicals — 2.6%
Lenzing AG		23,239		2,202,047
Commercial Services & Supplies — 1.6%
DO & CO AG(a)(b)		14,304		1,335,960
Construction & Engineering — 1.8%
Porr AG(a)		53,516		718,422
Strabag SE		18,339		810,154
				1,528,576
Construction Materials — 4.5%
Wienerberger AG		139,694		3,861,359
Diversified Telecommunication Services — 2.5%
Telekom Austria AG		296,405		2,079,023
Electric Utilities — 13.5%
EVN AG		67,773		1,694,825
Verbund AG		97,971		9,746,625
				11,441,450
Electronic Equipment, Instruments & Components — 3.1%
AT&S Austria Technologie & Systemtechnik AG		43,508		2,601,819
Energy Equipment & Services — 1.6%
Schoeller-Bleckmann Oilfield Equipment AG		20,876		1,360,442
Food Products — 0.8%
Agrana Beteiligungs AG		38,820		688,302
Insurance — 4.2%
UNIQA Insurance Group AG		228,215		1,878,837
Vienna Insurance Group AG Wiener Versicherung Gruppe		71,110		1,711,377
				3,590,214
Machinery — 6.3%
ANDRITZ AG		81,419		3,773,276

Security	Shares		Value
Machinery (continued)
Palfinger AG	33,814	$	925,676
Semperit AG Holding	29,558		625,062
			5,324,014
Metals & Mining — 4.5%
voestalpine AG	129,715		3,808,449
Oil, Gas & Consumable Fuels — 14.6%
OMV AG	212,880		12,436,657
Real Estate Management & Development — 8.4%
CA Immobilien Anlagen AG	73,386		2,449,364
IMMOFINANZ AG	136,648		2,986,781
S IMMO AG	68,852		1,707,505
			7,143,650
Total Common Stocks — 98.9%
(Cost: $93,301,810)			83,985,751
Short-Term Securities
Money Market Funds — 2.7%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.87%(d)(e)(f)	2,300,473		2,300,473
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.72%(d)(e)	40,000		40,000
			2,340,473
Total Short-Term Securities — 2.7%
(Cost: $2,340,242)			2,340,473
Total Investments in Securities — 101.6%
(Cost: $95,642,052)			86,326,224
Liabilities in Excess of Other Assets — (1.6)%			(1,400,102	)
Net Assets — 100.0%		$	84,926,122

^(a) Non-income producing security.

^(b) All or a portion of this security is on loan.

^(c) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

^(d) Affiliate of the Fund.

^(e) Annualized 7-day yield as of period end.

^(f) All or a portion of this security was purchased with the cash collateral from loaned securities.

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Austria ETF
May 31, 2022

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 08/31/21		Purchases at Cost			Proceeds from Sale		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 05/31/22		Shares Held at 05/31/22		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	2,252,894	$	49,148	(a)	$	—	$	(1,476	)	$	(93	)	$	2,300,473		2,300,473	$	27,268	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		30,000		10,000	(a)		—		—			—			40,000		40,000		38			—
								$	(1,476	)	$	(93	)	$	2,340,473			$	27,306		$	—

^(a) Represents net amount purchased (sold).

^(b) All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of Contracts	Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
Euro STOXX 50 Index	22	06/17/22	$	895	$	20,857

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows: 

• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

• Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and

• Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Austria ETF
May 31, 2022

Fair Value Measurements (continued)

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2		Level 3		Total
Investments
Assets
Common Stocks	$	4,722,611	$	79,263,140	$	—	$	83,985,751
Money Market Funds		2,340,473		—		—		2,340,473
	$	7,063,084	$	79,263,140	$	—	$	86,326,224
Derivative financial instruments(a)
Assets
Futures Contracts	$	—	$	20,857	$	—	$	20,857

^(a) Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

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