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

Security	Shares		Value
Common Stocks
Brazil — 8.2%
Ambev SA		142,558	$	425,645
Americanas SA		20,044		84,772
Atacadao SA		14,022		57,091
B3 SA - Brasil, Bolsa, Balcao		183,540		493,168
Banco Bradesco SA		49,847		177,044
Banco BTG Pactual SA		38,648		206,066
Banco do Brasil SA		25,593		197,203
Banco Inter SA		14,706		38,958
Banco Santander Brasil SA		10,602		74,843
BB Seguridade Participacoes SA		22,230		125,731
BRF SA(a)		11,400		37,540
CCR SA		34,770		97,596
Centrais Eletricas Brasileiras SA		13,395		118,771
Cia. de Saneamento Basico do Estado de Sao Paulo		9,975		96,086
Cia. Siderurgica Nacional SA		19,323		88,797
Cosan SA		38,475		174,947
CPFL Energia SA		7,011		49,714
Energisa SA		5,187		48,481
Engie Brasil Energia SA		9,483		87,596
Equatorial Energia SA		31,749		158,860
Hapvida Participacoes e Investimentos SA(b)		139,650		197,462
Hypera SA		13,395		109,329
JBS SA		25,251		189,148
Klabin SA		23,541		110,658
Localiza Rent a Car SA		18,468		223,518
Lojas Renner SA		29,355		164,300
Magazine Luiza SA		97,413		76,249
Natura & Co. Holding SA		25,365		87,903
Petro Rio SA(a)		24,054		141,665
Petroleo Brasileiro SA		118,389		828,527
Raia Drogasil SA		28,329		123,091
Rede D’Or Sao Luiz SA(b)		11,685		88,070
Rumo SA		35,910		133,589
Suzano SA		23,028		259,229
Telefonica Brasil SA		14,877		159,803
Tim SA		25,308		76,682
TOTVS SA		16,929		101,056
Ultrapar Participacoes SA		20,976		63,424
Vale SA		121,866		2,210,617
Vibra Energia SA		33,801		138,261
WEG SA		53,010		282,977
				8,604,467
China — 62.5%
360 DigiTech Inc.		2,166		34,071
360 Security Technology Inc., Class A(a)		28,531		35,281
37 Interactive Entertainment Network Technology Group Co. Ltd., Class A		5,700		18,410
3SBio Inc.(a)(b)		57,000		42,348
AAC Technologies Holdings Inc.(c)		29,500		64,162
Advanced Micro-Fabrication Equipment Inc., Class A(a)		2,300		39,706
AECC Aviation Power Co. Ltd., Class A		5,700		33,670
Agricultural Bank of China Ltd., Class A		136,800		62,066
Agricultural Bank of China Ltd., Class H		855,000		325,583
Aier Eye Hospital Group Co. Ltd., Class A		12,491		69,271
Air China Ltd., Class A(a)		22,800		33,084
Alibaba Group Holding Ltd.(a)		461,720		5,545,362
Alibaba Health Information Technology Ltd.(a)(c)		148,000		75,387
A-Living Smart City Services Co. Ltd., Class A(b)		14,250		22,718

Security	Shares		Value
China (continued)
Aluminum Corp. of China Ltd., Class A(a)		34,200	$	26,206
Aluminum Corp. of China Ltd., Class H(a)		114,000		50,827
Anhui Conch Cement Co. Ltd., Class A		5,700		31,381
Anhui Conch Cement Co. Ltd., Class H		28,500		144,354
Anhui Gujing Distillery Co. Ltd., Class B		5,700		83,550
ANTA Sports Products Ltd.		35,440		401,875
Autohome Inc., ADR		2,223		80,784
AVIC Electromechanical Systems Co. Ltd., Class A		11,400		19,663
AVIC Industry-Finance Holdings Co. Ltd., Class A		51,399		25,841
AviChina Industry & Technology Co. Ltd., Class H		86,000		49,507
Baidu Inc., ADR(a)		8,607		1,207,992
Bank of Beijing Co. Ltd., Class A		39,990		26,466
Bank of Chengdu Co. Ltd., Class A		17,100		39,134
Bank of China Ltd., Class A		68,400		32,678
Bank of China Ltd., Class H		2,394,000		957,052
Bank of Communications Co.Ltd., Class A		79,800		58,651
Bank of Communications Co. Ltd., Class H		228,200		155,419
Bank of Hangzhou Co. Ltd., Class A		17,199		35,052
Bank of Jiangsu Co. Ltd., Class A		22,860		21,964
Bank of Nanjing Co. Ltd., Class A		28,500		46,102
Bank of Ningbo Co. Ltd., Class A		12,310		60,272
Bank of Shanghai Co. Ltd., Class A		45,690		43,847
Baoshan Iron & Steel Co. Ltd., Class A		57,000		54,463
BBMG Corp., Class A		22,800		9,581
BeiGene Ltd., ADR(a)(c)		1,482		203,360
Beijing Capital International Airport Co. Ltd., Class H(a)		114,000		66,787
Beijing Dabeinong Technology Group Co. Ltd., Class A(a)		17,100		19,956
Beijing Enlight Media Co. Ltd., Class A		11,400		13,223
Beijing Enterprises Holdings Ltd.		28,500		99,775
Beijing Enterprises Water Group Ltd.		114,000		37,768
Beijing Kingsoft Office Software Inc., Class A		378		11,565
Beijing New Building Materials PLC, Class A		5,700		24,627
Beijing Originwater Technology Co. Ltd., Class A		28,500		20,810
Beijing Roborock Technology Co. Ltd., Class A		158		15,069
Beijing Sinnet Technology Co. Ltd., Class A		11,400		16,648
Beijing-Shanghai High Speed Railway Co. Ltd., Class A		79,800		58,122
Bilibili Inc., ADR(a)(c)		4,845		108,286
BOE Technology Group Co. Ltd., Class A		85,500		48,433
Bosideng International Holdings Ltd.(c)		114,000		60,666
BYD Co. Ltd., Class A		3,900		172,245
BYD Co. Ltd., Class H		25,500		906,304
BYD Electronic International Co. Ltd.(c)		29,500		65,471
Caitong Securities Co. Ltd., Class A		14,820		15,942
CanSino Biologics Inc., Class H(a)(b)		2,600		26,185
CGN Power Co. Ltd., Class H(b)		342,000		89,713
Changchun High & New Technology Industry Group Inc., Class A		810		20,094
Changjiang Securities Co. Ltd., Class A		28,500		24,231
Chaozhou Three-Circle Group Co. Ltd., Class A		2,300		10,176
China Baoan Group Co. Ltd., Class A		11,400		20,004
China Cinda Asset Management Co. Ltd., Class H		171,000		28,981
China CITIC Bank Corp. Ltd., Class H		228,000		110,357
China Coal Energy Co. Ltd., Class H		57,000		52,299
China Communications Services Corp. Ltd., Class H		114,800		53,759
China Conch Venture Holdings Ltd.		57,000		148,274
China Construction Bank Corp., Class A		34,200		30,619
China Construction Bank Corp., Class H		2,907,370		2,155,279
China CSSC Holdings Ltd., Class A		11,400		31,676
China Eastern Airlines Corp. Ltd., Class A(a)		28,500		20,531
China Energy Engineering Corp. Ltd.(a)		102,600		35,738

1

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

Security	Shares		Value
China (continued)
China Everbright Bank Co. Ltd., Class A		91,200	$	42,585
China Everbright Environment Group Ltd.		114,000		68,533
China Evergrande Group(d)		114,000		21,064
China Feihe Ltd.(b)		116,000		117,076
China Galaxy Securities Co. Ltd., Class H		114,000		62,846
China Gas Holdings Ltd.		92,400		137,671
China Greatwall Technology Group Co. Ltd., Class A		11,400		17,291
China Hongqiao Group Ltd.		85,500		105,970
China International Capital Corp. Ltd., Class H(b)		45,600		86,827
China Jinmao Holdings Group Ltd.		172,000		46,479
China Jushi Co. Ltd., Class A		11,473		28,010
China Lesso Group Holdings Ltd.		57,000		73,187
China Life Insurance Co. Ltd., Class A		11,493		42,691
China Life Insurance Co. Ltd., Class H		228,000		349,785
China Literature Ltd.(a)(b)(c)		11,400		50,046
China Longyuan Power Group Corp. Ltd., Class H		114,000		242,753
China Medical System Holdings Ltd.		57,000		84,227
China Mengniu Dairy Co. Ltd.		106,000		542,720
China Merchants Bank Co. Ltd., Class A		38,300		226,884
China Merchants Bank Co. Ltd., Class H		114,456		723,931
China Merchants Port Holdings Co. Ltd.		48,000		91,083
China Merchants Securities Co. Ltd., Class A		17,150		33,068
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A		12,581		23,502
China Minsheng Banking Corp. Ltd., Class A		57,000		32,528
China Minsheng Banking Corp. Ltd., Class H		171,000		66,229
China Molybdenum Co. Ltd., Class A		51,300		36,464
China Molybdenum Co. Ltd., Class H		108,000		52,845
China National Building Material Co. Ltd., Class H		114,000		143,797
China National Chemical Engineering Co. Ltd., Class A		22,800		32,086
China National Nuclear Power Co. Ltd., Class A		45,600		49,495
China Northern Rare Earth Group High-Tech Co. Ltd., Class A		11,400		59,274
China Oilfield Services Ltd., Class H		68,000		80,065
China Overseas Land & Investment Ltd.		114,300		331,687
China Pacific Insurance Group Co. Ltd., Class A		11,400		36,187
China Pacific Insurance Group Co. Ltd., Class H		68,400		159,575
China Petroleum & Chemical Corp., Class A		57,000		37,843
China Petroleum & Chemical Corp., Class H		798,600		382,500
China Power International Development Ltd.		171,000		86,802
China Railway Group Ltd., Class A		39,900		39,227
China Railway Group Ltd., Class H		114,000		78,792
China Renewable Energy Investment Ltd.(d)		7,709		—
China Resources Beer Holdings Co. Ltd.		38,000		236,841
China Resources Cement Holdings Ltd.		116,000		91,693
China Resources Gas Group Ltd.		15,000		62,759
China Resources Land Ltd.		114,444		509,358
China Resources Mixc Lifestyle Services Ltd.(b)		22,800		112,372
China Resources Power Holdings Co. Ltd.		74,200		152,593
China Ruyi Holdings Ltd.(a)(c)		228,000		65,121
China Shenhua Energy Co. Ltd., Class A		17,100		86,834
China Shenhua Energy Co. Ltd., Class H		114,000		380,717
China Southern Airlines Co. Ltd., Class A(a)		45,600		44,295
China State Construction Engineering Corp. Ltd., Class A		85,500		70,511
China State Construction International Holdings Ltd.		114,000		133,983
China Suntien Green Energy Corp. Ltd., Class H		57,000		33,211
China Taiping Insurance Holdings Co. Ltd.		45,640		52,411
China Three Gorges Renewables Group Co. Ltd.,
Class A		68,400		63,481

Security	Shares		Value
China (continued)
China Tourism Group Duty Free Corp. Ltd., Class A		4,000	$	105,239
China Tower Corp. Ltd., Class H(b)		1,140,000		133,573
China Traditional Chinese Medicine Holdings Co. Ltd.		114,000		60,180
China United Network Communications Ltd., Class A		57,000		29,678
China Vanke Co. Ltd., Class A		17,138		45,664
China Vanke Co. Ltd., Class H		51,301		113,353
China Yangtze Power Co. Ltd., Class A		45,656		164,032
China Zheshang Bank Co. Ltd., Class A		34,200		16,638
Chinasoft International Ltd.		114,000		104,766
Chongqing Changan Automobile Co. Ltd., Class A		17,140		35,734
Chongqing Zhifei Biological Products Co. Ltd., Class A		4,300		56,208
CIFI Ever Sunshine Services Group Ltd.		28,000		32,442
CIFI Holdings Group Co. Ltd.		119,700		51,917
CITIC Ltd.		171,000		191,778
CITIC Securities Co. Ltd., Class A		22,775		67,343
CITIC Securities Co. Ltd., Class H		57,050		123,476
Contemporary Amperex Technology Co. Ltd., Class A		4,300		261,810
COSCO SHIPPING Holdings Co. Ltd., Class A(a)		22,770		52,066
COSCO SHIPPING Holdings Co. Ltd., Class H(a)		113,849		201,446
COSCO SHIPPING Ports Ltd.		114,000		85,960
Country Garden Holdings Co. Ltd.		234,046		146,339
Country Garden Services Holdings Co. Ltd.		57,000		225,391
CRRC Corp. Ltd., Class A		45,600		34,529
CRRC Corp. Ltd., Class H		114,000		45,728
CSC Financial Co. Ltd., Class A		11,400		38,222
CSPC Pharmaceutical Group Ltd.		228,160		243,783
Dali Foods Group Co. Ltd.(b)		85,500		43,060
Daqo New Energy Corp., ADR(a)		1,938		94,768
DHC Software Co. Ltd., Class A		28,500		25,207
Dongfang Electric Corp. Ltd., Class A		11,400		23,747
Dongfeng Motor Group Co. Ltd., Class H		114,000		89,530
Dongxing Securities Co. Ltd., Class A		11,499		14,063
Dongyue Group Ltd.		57,000		72,330
East Money Information Co. Ltd., Class A		27,374		92,499
ENN Energy Holdings Ltd.		23,500		359,551
ENN Natural Gas Co. Ltd., Class A		11,400		31,187
Eve Energy Co. Ltd., Class A		5,700		68,360
Everbright Securities Co. Ltd., Class A		11,497		19,867
Fangda Carbon New Material Co. Ltd., Class A		22,840		24,070
Far East Horizon Ltd.		61,000		54,039
Fiberhome Telecommunication Technologies Co. Ltd., Class A		5,700		12,045
First Capital Securities Co. Ltd., Class A		11,400		9,567
Flat Glass Group Co. Ltd., Class A		3,600		23,631
Focus Media Information Technology Co. Ltd., Class A		39,939		38,278
Foshan Haitian Flavouring & Food Co. Ltd., Class A		6,351		72,667
Fosun International Ltd.		57,000		57,795
Founder Securities Co. Ltd., Class A		34,299		32,129
Foxconn Industrial Internet Co. Ltd., Class A		22,800		32,084
Fujian Sunner Development Co. Ltd., Class A		5,700		14,973
Fuyao Glass Industry Group Co. Ltd., Class A		5,700		34,123
Fuyao Glass Industry Group Co. Ltd., Class H(b)		23,600		114,148
Ganfeng Lithium Co. Ltd., Class H(b)		11,400		146,120
GD Power Development Co. Ltd., Class A		62,700		33,752
GDS Holdings Ltd., ADR(a)		2,679		74,985
Geely Automobile Holdings Ltd.		171,000		326,382
GEM Co. Ltd., Class A		17,199		18,912
Gemdale Corp., Class A		11,400		20,251
Genscript Biotech Corp.(a)		42,000		124,284
GF Securities Co. Ltd., Class A		17,100		43,675

2

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

Security	Shares		Value
China (continued)
GF Securities Co. Ltd., Class H		22,800	$	30,118
GoerTek Inc., Class A		5,700		34,633
Great Wall Motor Co. Ltd., Class A		5,700		28,278
Great Wall Motor Co. Ltd., Class H		85,500		153,672
Gree Electric Appliances Inc. of Zhuhai, Class A		5,700		27,388
Greenland Holdings Corp. Ltd., Class A		78		45
Greentown China Holdings Ltd.		28,500		49,344
Greentown Service Group Co. Ltd.		56,000		56,327
Guangdong Haid Group Co. Ltd., Class A		5,700		51,017
Guangdong Investment Ltd.		114,000		143,741
Guanghui Energy Co. Ltd., Class A(a)		22,800		36,033
Guangzhou Automobile Group Co. Ltd., Class H		114,235		108,039
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A		5,700		26,416
Guosen Securities Co. Ltd., Class A		22,800		31,109
Guotai Junan Securities Co. Ltd., Class A		22,800		49,356
Guoyuan Securities Co. Ltd., Class A		16,920		14,594
Haidilao International Holding Ltd.(b)		57,000		113,058
Haier Smart Home Co. Ltd., Class A		11,479		43,548
Haier Smart Home Co. Ltd., Class H		68,400		243,185
Haitian International Holdings Ltd.		28,000		71,824
Haitong Securities Co. Ltd., Class A		17,100		23,337
Haitong Securities Co. Ltd., Class H		45,600		32,295
Hangzhou Tigermed Consulting Co. Ltd., Class A		100		1,284
Hangzhou Tigermed Consulting Co. Ltd., Class H(b)		5,700		54,955
Henan Shuanghui Investment & Development Co. Ltd., Class A		11,400		48,308
Hengan International Group Co. Ltd.		28,500		141,116
Hengli Petrochemical Co. Ltd., Class A		11,400		40,137
Hengyi Petrochemical Co. Ltd., Class A		13,530		21,583
Hesteel Co. Ltd., Class A		68,400		24,044
Hopson Development Holdings Ltd.(c)		24,690		40,221
Huadian Power International Corp. Ltd., Class A		17,100		10,068
Huadong Medicine Co. Ltd., Class A		5,700		33,008
Hualan Biological Engineering Inc., Class A		5,750		16,097
Huaneng Power International Inc., Class A		34,200		37,730
Huaneng Power International Inc., Class H		114,000		57,868
Huatai Securities Co. Ltd., Class A		22,800		45,378
Huatai Securities Co. Ltd., Class H(b)		22,800		31,910
Huaxia Bank Co. Ltd., Class A		28,500		22,702
Huaxin Cement Co. Ltd., Class A		5,700		16,902
Huayu Automotive Systems Co. Ltd., Class A		11,499		37,900
Huazhu Group Ltd., ADR		5,871		190,807
Hunan Valin Steel Co. Ltd., Class A		17,100		13,682
Hundsun Technologies Inc., Class A		5,700		34,134
Hutchmed China Ltd., ADR(a)(c)		2,622		27,583
Hygeia Healthcare Holdings Co. Ltd.(b)		11,400		63,284
Iflytek Co. Ltd., Class A		5,729		31,120
Industrial & Commercial Bank of China Ltd., Class A		114,000		79,559
Industrial & Commercial Bank of China Ltd., Class H		1,710,050		1,024,013
Industrial Bank Co. Ltd., Class A		39,900		117,226
Industrial Securities Co.Ltd., Class A		17,100		15,812
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A(a)		91,200		27,361
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd., Class A		17,100		11,065
Inner Mongolia Yili Industrial Group Co. Ltd., Class A		11,400		64,755
Inner Mongolia Yitai Coal Co. Ltd., Class B		34,200		56,943
Innovent Biologics Inc.(a)(b)		28,500		88,266
Inspur Electronic Information Industry Co. Ltd., Class A		8,383		30,867
iQIYI Inc., ADR(a)		8,855		36,306

Security	Shares		Value
China (continued)
JA Solar Technology Co. Ltd., Class A		5,700	$	79,643
JD Health International Inc.(a)(b)(c)		34,200		217,077
JD.com Inc., Class A		62,570		1,757,614
Jiangsu Eastern Shenghong Co. Ltd., Class A		5,700		13,286
Jiangsu Expressway Co. Ltd., Class H		38,000		39,219
Jiangsu Hengrui Medicine Co. Ltd., Class A		13,968		63,232
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A		2,900		71,479
Jiangsu Zhongtian Technology Co. Ltd., Class A		11,400		31,290
Jiangxi Copper Co. Ltd., Class H		57,000		92,247
Jiangxi Zhengbang Technology Co. Ltd., Class A		11,400		10,605
Jinke Properties Group Co. Ltd., Class A		5,700		2,675
Jinxin Fertility Group Ltd.(a)(b)		57,000		44,718
Jiumaojiu International Holdings Ltd.(b)		28,000		65,630
JOYY Inc., ADR		1,539		65,238
Kanzhun Ltd., ADR(a)(c)		2,850		57,627
KE Holdings Inc., ADR(a)		9,177		122,972
Kingboard Holdings Ltd.		28,500		136,355
Kingdee International Software Group Co. Ltd.(a)		57,000		112,249
Kingsoft Corp. Ltd.		31,600		105,791
Kuaishou Technology(a)(b)		51,300		496,697
Kunlun Energy Co. Ltd.		114,000		97,707
Kweichow Moutai Co. Ltd., Class A		2,400		646,873
LB Group Co. Ltd., Class A		5,700		16,170
Legend Biotech Corp., ADR(a)		1,710		72,316
Lenovo Group Ltd.		228,000		224,650
Lens Technology Co. Ltd., Class A		17,100		26,967
Lepu Medical Technology Beijing Co. Ltd., Class A		11,400		30,135
Li Auto Inc., ADR(a)(c)		16,929		424,410
Li Ning Co. Ltd.		71,000		553,954
Lingyi iTech Guangdong Co., Class A(a)		22,800		16,248
Longfor Group Holdings Ltd.(b)		57,000		283,644
LONGi Green Energy Technology Co. Ltd., Class A		11,820		139,232
Lufax Holding Ltd., ADR		25,878		162,773
Luxshare Precision Industry Co. Ltd., Class A		17,602		88,952
Luzhou Laojiao Co. Ltd., Class A		2,800		89,760
Mango Excellent Media Co. Ltd., Class A		5,700		30,841
Meinian Onehealth Healthcare Holdings Co. Ltd., Class A(a)		22,853		17,480
Meituan, Class B(a)(b)		125,400		2,942,524
Metallurgical Corp. of China Ltd., Class A		34,200		18,054
Microport Scientific Corp.		22,800		45,156
Ming Yuan Cloud Group Holdings Ltd.		15,000		18,514
Muyuan Foods Co. Ltd., Class A		11,178		85,558
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd., Class A		5,735		23,677
Nanjing Securities Co. Ltd., Class A		11,400		12,950
NARI Technology Co. Ltd., Class A		13,920		71,217
National Silicon Industry Group Co. Ltd., Class A(a)		12,177		40,614
NavInfo Co. Ltd., Class A(a)		11,408		22,440
NetEase Inc.		62,775		1,312,871
New China Life Insurance Co.Ltd., Class A		5,700		24,009
New China Life Insurance Co. Ltd., Class H		17,100		44,741
New Hope Liuhe Co. Ltd., Class A(a)		11,400		24,333
New Oriental Education & Technology Group Inc., ADR(a)(c)		4,663		60,899
Ningxia Baofeng Energy Group Co. Ltd., Class A		17,100		39,743
NIO Inc., ADR(a)		40,584		705,756
Nongfu Spring Co. Ltd., Class H(b)		57,000		317,355
Offshore Oil Engineering Co. Ltd., Class A		5,724		3,799
OFILM Group Co. Ltd., Class A(a)		17,100		14,637

3

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

Security	Shares		Value
China (continued)
Orient Securities Co. Ltd., Class A		21,888	$	30,500
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A(a)		57,000		28,480
People’s Insurance Co. Group of China Ltd. (The), Class A		28,500		19,950
People’s Insurance Co. Group of China Ltd. (The), Class H		171,000		53,796
Perfect World Co. Ltd., Class A		50		102
PetroChina Co. Ltd., Class A		28,500		23,857
PetroChina Co. Ltd., Class H		684,000		360,193
Pharmaron Beijing Co. Ltd., Class H(b)		5,700		68,742
PICC Property & Casualty Co. Ltd., Class H		228,322		221,097
Pinduoduo Inc., ADR(a)(c)		13,566		683,048
Ping An Bank Co. Ltd., Class A		34,200		72,316
Ping An Healthcare and Technology Co. Ltd.(a)(b)(c)		17,700		47,597
Ping An Insurance Group Co. of China Ltd., Class A		22,800		150,578
Ping An Insurance Group Co. of China Ltd., Class H		200,000		1,280,565
Poly Developments and Holdings Group Co. Ltd., Class A		17,100		39,624
Pop Mart International Group Ltd.(b)		11,400		43,946
Postal Savings Bank of China Co. Ltd., Class A		51,300		40,357
Postal Savings Bank of China Co. Ltd., Class H(b)		228,000		169,342
Power Construction Corp. of China Ltd., Class A		34,200		39,886
RLX Technology Inc., ADR(a)		19,608		38,824
Rongsheng Petrochemical Co. Ltd., Class A		22,850		54,505
SAIC Motor Corp. Ltd., Class A		17,100		43,937
Sany Heavy Equipment International Holdings Co. Ltd.		57,000		57,365
Sany Heavy Industry Co. Ltd., Class A		17,153		43,402
SDIC Capital Co. Ltd., Class A		17,104		15,714
SDIC Power Holdings Co. Ltd., Class A		22,899		35,428
Sealand Securities Co. Ltd., Class A		17,100		8,800
SF Holding Co. Ltd., Class A		11,400		88,408
Shaanxi Coal Industry Co. Ltd., Class A		22,805		64,806
Shandong Gold Mining Co. Ltd., Class A		11,480		31,439
Shandong Gold Mining Co. Ltd., Class H(b)		28,500		50,450
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A		7,740		34,506
Shandong Nanshan Aluminum Co. Ltd., Class A		62,700		33,177
Shandong Weigao Group Medical Polymer Co. Ltd., Class H		68,400		75,880
Shanghai Baosight Software Co. Ltd., Class A		5,790		45,129
Shanghai Baosight Software Co. Ltd., Class B		17,100		66,812
Shanghai Construction Group Co. Ltd., Class A		17,100		8,026
Shanghai Electric Group Co. Ltd., Class A		57,000		34,679
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A		5,700		37,360
Shanghai Lujiazui Finance & Trade Zone Development Co.Ltd., Class B		34,276		31,840
Shanghai Pharmaceuticals Holding Co. Ltd., Class A		5,700		15,347
Shanghai Pharmaceuticals Holding Co. Ltd., Class H		28,500		46,403
Shanghai Pudong Development Bank Co. Ltd., Class A		51,300		60,967
Shanghai RAAS Blood Products Co. Ltd., Class A		33,900		28,570
Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A		11,400		17,040
Shanxi Coking Coal Energy Group Co. Ltd., Class A		5,700		12,185
Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A		11,452		27,328
Shanxi Meijin Energy Co. Ltd., Class A(a)		11,400		19,706
Shanxi Securities Co. Ltd., Class A		16,860		13,054
Shanxi Taigang Stainless Steel Co. Ltd., Class A		17,100		14,750
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A		2,360		95,920
Shenghe Resources Holding Co. Ltd., Class A		5,700		15,044
Shengyi Technology Co. Ltd., Class A		11,400		27,689

Security	Shares		Value
China (continued)
Shenwan Hongyuan Group Co. Ltd., Class A		74,194	$	44,924
Shenzhen Energy Group Co. Ltd., Class A		12,820		12,108
Shenzhen Inovance Technology Co. Ltd., Class A		5,797		52,973
Shenzhen International Holdings Ltd.		28,500		27,443
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A		2,200		99,345
Shenzhen Overseas Chinese Town Co. Ltd., Class A		17,100		14,638
Shenzhen Transsion Holding Co. Ltd., Class A		2,394		31,421
Shenzhou International Group Holdings Ltd.		22,800		313,017
Shimao Group Holdings Ltd.(d)		28,500		14,212
Sichuan Chuantou Energy Co. Ltd., Class A		17,105		30,814
Sichuan Kelun Pharmaceutical Co. Ltd., Class A		11,400		30,354
Sichuan Road & Bridge Co. Ltd., Class A		17,120		27,215
Sino Biopharmaceutical Ltd.		302,000		169,313
Sinolink Securities Co. Ltd., Class A		22,800		27,959
Sinopec Shanghai Petrochemical Co. Ltd., Class A		22,800		11,452
Sinopharm Group Co. Ltd., Class H		45,600		112,789
Sinotruk Hong Kong Ltd.		28,500		40,421
Smoore International Holdings Ltd.(b)		57,000		139,408
Songcheng Performance Development Co. Ltd., Class A		11,380		21,752
SooChow Securities Co. Ltd., Class A		22,152		21,409
Southwest Securities Co. Ltd., Class A		34,200		19,069
Sunac China Holdings Ltd.(d)		114,000		58,904
Sungrow Power Supply Co. Ltd., Class A		5,700		68,087
Sunny Optical Technology Group Co. Ltd.		22,900		361,402
Sunwoda Electronic Co. Ltd., Class A		5,700		22,785
Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A		5,700		16,041
TAL Education Group, ADR(a)		10,431		42,767
TBEA Co. Ltd., Class A		11,400		38,293
TCL Technology Group Corp., Class A		28,500		19,340
Tencent Holdings Ltd.		190,300		8,700,205
Tencent Music Entertainment Group, ADR(a)		18,924		79,102
Tianjin Zhonghuan Semiconductor Co. Ltd., Class A		11,400		74,125
Tianma Microelectronics Co. Ltd., Class A		17,100		24,112
Tianshui Huatian Technology Co. Ltd., Class A		5,900		7,607
Tingyi Cayman Islands Holding Corp.		64,000		113,139
Tongcheng Travel Holdings Ltd.(a)		45,600		87,426
TongFu Microelectronics Co. Ltd., Class A		17,100		35,664
Tongling Nonferrous Metals Group Co. Ltd., Class A		62,700		30,188
Tongwei Co. Ltd., Class A		11,495		77,442
Topsports International Holdings Ltd.(b)		57,000		42,128
Transfar Zhilian Co.Ltd., Class A		17,100		16,116
TravelSky Technology Ltd., Class H		30,000		48,795
Trina Solar Co. Ltd.		4,902		46,671
Trip.com Group Ltd., ADR(a)		16,530		364,652
Tsingtao Brewery Co. Ltd., Class H		16,000		137,987
Uni-President China Holdings Ltd.		57,000		45,949
Unisplendour Corp. Ltd., Class A		8,180		21,761
Vipshop Holdings Ltd., ADR(a)		13,395		124,573
Walvax Biotechnology Co. Ltd., Class A		5,700		39,634
Wanhua Chemical Group Co. Ltd., Class A		6,400		80,418
Want Want China Holdings Ltd.		171,000		170,172
Weibo Corp., ADR(a)(c)		1,653		36,366
Weichai Power Co. Ltd., Class A		13,400		24,203
Weichai Power Co. Ltd., Class H		57,100		88,062
Wens Foodstuffs Group Co. Ltd., Class A(a)		17,140		46,358
Western Securities Co. Ltd., Class A		17,100		15,807
Wharf Holdings Ltd. (The)		57,000		190,593
Will Semiconductor Co. Ltd. Shanghai, Class A		2,500		61,223

4

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

Security	Shares		Value
China (continued)
Wingtech Technology Co. Ltd., Class A		3,000	$	28,472
Winning Health Technology Group Co. Ltd., Class A		17,150		21,621
Wuhan Guide Infrared Co. Ltd., Class A		19,380		33,660
Wuliangye Yibin Co. Ltd., Class A		7,100		181,659
WUS Printed Circuit Kunshan Co. Ltd., Class A		3,460		8,146
WuXi AppTec Co. Ltd., Class A		5,728		81,518
WuXi AppTec Co. Ltd., Class H(b)		11,487		141,969
Wuxi Biologics Cayman Inc., New(a)(b)		114,000		842,985
XCMG Construction Machinery Co. Ltd., Class A		39,400		31,201
Xiamen C & D Inc., Class A		11,400		22,680
Xiaomi Corp., Class B(a)(b)		467,400		721,284
Xinjiang Goldwind Science & Technology Co. Ltd., Class A		11,453		21,126
Xinjiang Goldwind Science & Technology Co. Ltd., Class H		23,434		38,334
Xinyi Solar Holdings Ltd.(c)		156,000		276,900
XPeng Inc., ADR(a)(c)		13,053		306,745
Xtep International Holdings Ltd.		28,500		41,040
Yankuang Energy Group Co. Ltd., Class A		5,700		32,993
Yankuang Energy Group Co. Ltd., Class H		58,000		190,535
Yihai International Holding Ltd.		19,000		58,891
Yihai Kerry Arawana Holdings Co. Ltd., Class A		5,700		38,685
Yonghui Superstores Co. Ltd., Class A		22,893		15,024
Yonyou Network Technology Co. Ltd., Class A		10,230		29,547
Youngor Group Co. Ltd., Class A		5,700		6,001
Yuexiu Property Co. Ltd.		50,400		54,736
Yum China Holdings Inc.		12,939		588,207
Yunda Holding Co. Ltd., Class A		7,830		21,222
Yunnan Baiyao Group Co. Ltd., Class A		5,708		48,176
Yunnan Energy New Material Co. Ltd., Class A		1,700		55,221
Zai Lab Ltd., ADR(a)		2,793		81,276
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A		1,400		64,750
Zhejiang Century Huatong Group Co. Ltd., Class A(a)		11,400		7,883
Zhejiang Chint Electrics Co. Ltd., Class A		5,700		31,163
Zhejiang Dahua Technology Co. Ltd., Class A		11,400		27,491
Zhejiang Juhua Co. Ltd., Class A		11,400		19,900
Zhejiang Longsheng Group Co. Ltd., Class A		22,800		36,372
Zhejiang NHU Co. Ltd., Class A		10,243		31,838
Zheshang Securities Co. Ltd., Class A		11,400		16,465
ZhongAn Online P&C Insurance Co. Ltd., Class H(a)(b)		22,800		76,256
Zhongsheng Group Holdings Ltd.		28,500		202,119
Zhongtai Securities Co. Ltd.		22,800		24,814
Zhuzhou CRRC Times Electric Co. Ltd.		17,100		73,145
Zijin Mining Group Co. Ltd., Class A		39,900		59,704
Zijin Mining Group Co. Ltd., Class H		177,000		239,074
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A		28,600		25,330
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H		45,600		28,079
ZTE Corp., Class A		5,700		20,708
ZTE Corp., Class H		22,848		50,314
ZTO Express Cayman Inc., ADR		13,110		353,183
				65,910,927
Hong Kong — 0.2%
Kingboard Laminates Holdings Ltd.		28,500		47,801
Nine Dragons Paper Holdings Ltd.		57,000		51,165
Orient Overseas International Ltd.		4,000		122,846
				221,812

Security	Shares		Value
India — 25.6%
ACC Ltd.		2,451	$	69,048
Adani Enterprises Ltd.		8,226		228,361
Adani Green Energy Ltd.(a)		8,989		217,734
Adani Ports & Special Economic Zone Ltd.		15,561		147,528
Adani Power Ltd.(a)		23,484		97,779
Adani Total Gas Ltd.		8,493		262,374
Adani Transmission Ltd.(a)		8,493		223,804
Ambuja Cements Ltd.		18,639		88,291
Apollo Hospitals Enterprise Ltd.		3,078		157,135
Asian Paints Ltd.		11,970		437,500
AU Small Finance Bank Ltd.(a)(b)		2,394		38,587
Aurobindo Pharma Ltd.		7,866		53,682
Avenue Supermarts Ltd.(a)(b)		5,130		261,397
Axis Bank Ltd.(a)		69,369		608,737
Bajaj Auto Ltd.		1,995		98,762
Bajaj Finance Ltd.		8,322		647,139
Bajaj Finserv Ltd.		1,254		207,562
Balkrishna Industries Ltd.		2,907		87,002
Bandhan Bank Ltd.(b)		20,805		86,687
Berger Paints India Ltd.		7,524		59,177
Bharat Electronics Ltd.		39,403		118,794
Bharat Forge Ltd.		7,439		67,127
Bharat Petroleum Corp. Ltd.		26,391		110,588
Bharti Airtel Ltd.(a)		66,861		601,025
Biocon Ltd.(a)		13,737		58,890
Britannia Industries Ltd.		2,907		135,870
Cholamandalam Investment and Finance Co. Ltd.		13,267		115,473
Cipla Ltd.		14,250		181,908
Coal India Ltd.		45,201		112,384
Colgate-Palmolive India Ltd.		3,363		70,279
Container Corp. of India Ltd.		7,638		63,816
Dabur India Ltd.		16,644		111,048
Divi’s Laboratories Ltd.		3,990		183,918
DLF Ltd.		20,178		89,180
Dr. Reddy’s Laboratories Ltd.		3,661		205,139
Eicher Motors Ltd.		4,218		150,337
GAIL India Ltd.		41,154		77,939
Godrej Consumer Products Ltd.(a)		11,286		111,437
Godrej Properties Ltd.(a)		3,990		71,737
Grasim Industries Ltd.		8,094		148,038
Havells India Ltd.		8,265		127,350
HCL Technologies Ltd.		32,946		439,355
HDFC Life Insurance Co. Ltd.(b)		28,956		222,541
Hero MotoCorp Ltd.		3,078		109,274
Hindalco Industries Ltd.		44,346		241,148
Hindustan Petroleum Corp. Ltd.		14,678		43,001
Hindustan Unilever Ltd.		25,137		756,817
Housing Development Finance Corp. Ltd.		52,383		1,541,986
ICICI Bank Ltd.		157,377		1,515,596
ICICI Lombard General Insurance Co. Ltd.(b)		7,182		116,758
ICICI Prudential Life Insurance Co. Ltd.(b)		10,830		72,244
Indian Oil Corp. Ltd.		47,595		71,023
Indian Railway Catering & Tourism Corp. Ltd.		9,405		83,227
Indraprastha Gas Ltd.		12,476		60,473
Indus Towers Ltd.		22,287		57,567
Info Edge India Ltd.		2,166		115,671
Infosys Ltd.		102,543		1,978,770
InterGlobe Aviation Ltd.(a)(b)		2,964		69,708
ITC Ltd.		90,060		312,777
Jindal Steel & Power Ltd.		12,426		60,476

5

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

Security	Shares		Value
India (continued)
JSW Steel Ltd.		22,800	$	161,536
Jubilant Foodworks Ltd.		11,970		84,586
Kotak Mahindra Bank Ltd.		16,929		399,254
Larsen & Toubro Infotech Ltd.(b)		1,770		96,502
Larsen & Toubro Ltd.		20,406		432,101
Lupin Ltd.		4,731		37,632
Mahindra & Mahindra Ltd.		25,764		340,894
Marico Ltd.		14,934		102,250
Maruti Suzuki India Ltd.		3,591		365,932
Mindtree Ltd.		2,223		86,930
Mphasis Ltd.		2,736		91,060
MRF Ltd.		57		56,927
Muthoot Finance Ltd.		4,275		62,673
Nestle India Ltd.		1,026		233,008
NTPC Ltd.		114,912		230,500
Oil & Natural Gas Corp. Ltd.		75,696		147,622
Page Industries Ltd.		171		99,186
Petronet LNG Ltd.		20,520		59,921
PI Industries Ltd.		2,736		96,900
Pidilite Industries Ltd.		5,016		144,413
Piramal Enterprises Ltd.		3,819		92,742
Power Grid Corp. of India Ltd.		89,661		267,788
Reliance Industries Ltd.		92,853		3,128,075
Samvardhana Motherson International Ltd.		41,040		68,639
SBI Cards & Payment Services Ltd.		6,099		61,032
SBI Life Insurance Co. Ltd.(b)		13,167		197,705
Shree Cement Ltd.		342		96,962
Shriram Transport Finance Co. Ltd.		5,244		78,956
Siemens Ltd.		2,397		74,831
SRF Ltd.		5,130		161,746
State Bank of India		54,764		327,533
Sun Pharmaceutical Industries Ltd.		29,298		324,027
Tata Consultancy Services Ltd.		28,329		1,221,596
Tata Consumer Products Ltd.		18,867		183,808
Tata Elxsi Ltd.		943		101,800
Tata Motors Ltd.(a)		50,117		285,248
Tata Power Co. Ltd. (The)		46,740		140,751
Tata Steel Ltd.		22,857		310,450
Tech Mahindra Ltd.		17,841		269,742
Titan Co. Ltd.		11,058		314,302
Torrent Pharmaceuticals Ltd.		1,596		58,048
Trent Ltd.		6,099		87,908
UltraTech Cement Ltd.		3,078		239,887
United Spirits Ltd.(a)		9,348		97,055
UPL Ltd.		15,903		159,270
Vedanta Ltd.		24,624		101,957
Wipro Ltd.		40,584		246,640
Yes Bank Ltd.(a)		347,023		58,554
Zomato Ltd.(a)		52,497		50,211
				26,996,065
Russia — 0.0%
Alrosa PJSC(d)		83,790		13
Gazprom PJSC(d)		376,774		60
Inter RAO UES PJSC(d)		1,065,900		170
LUKOIL PJSC(d)		12,996		2
Magnit PJSC, GDR(d)		10,659		—
MMC Norilsk Nickel PJSC(d)		1,995		—
Mobile TeleSystems PJSC, ADR(d)		8,322		83
Moscow Exchange MICEX-RTS PJSC(a)(d)		41,040		7
Novatek PJSC, GDR(d)		2,917		29

Security	Shares		Value
Russia (continued)
Novolipetsk Steel PJSC(d)		41,610	$	7
Ozon Holdings PLC, GDR(a)(d)		1,881		—
PhosAgro PJSC(d)		28		—
PhosAgro PJSC, GDR(d)		4,393		44
Polymetal International PLC(d)		10,488		2
Polyus PJSC(d)		1,083		—
Rosneft Oil Co. PJSC(d)		37,278		6
Sberbank of Russia PJSC(a)(d)		331,170		53
Severstal PAO(d)		6,669		1
Surgutneftegas PJSC(d)		182,410		29
Tatneft PJSC(d)		41,097		7
TCS Group Holding PLC, GDR(a)(d)		3,884		1
United Co. RUSAL International PJSC(a)(d)		95,760		15
VK Co. Ltd.(a)(d)		4,446		1
VTB Bank PJSC(d)		153,340,001		24
X5 Retail Group NV, GDR(d)		2,622		—
Yandex NV(a)(d)		9,690		2
				556
Singapore — 0.0%
BOC Aviation Ltd.(b)		5,700		47,014
Total Common Stocks — 96.5%
(Cost: $129,307,058)				101,780,841
Preferred Stocks
Brazil — 3.0%
Banco Bradesco SA, Preference Shares, NVS		169,102		729,417
Braskem SA, Class A, Preference Shares, NVS		6,327		59,242
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS		6,270		54,922
Cia. Energetica de Minas Gerais, Preference Shares, NVS		43,172		105,827
Gerdau SA, Preference Shares, NVS		35,055		215,159
Itau Unibanco Holding SA, Preference Shares, NVS		147,003		809,165
Itausa SA, Preference Shares, NVS		133,824		270,039
Petroleo Brasileiro SA, Preference Shares, NVS		141,474		894,827
				3,138,598
Russia — 0.0%
Surgutneftegas PJSC, Preference Shares, NVS(d)		193,800		31
Total Preferred Stocks — 3.0%
(Cost: $2,087,696)				3,138,629
Short-Term Securities
Money Market Funds — 2.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.87%(e)(f)(g)		2,223,228		2,223,228
Total Short-Term Securities — 2.1%
(Cost: $2,222,737)				2,223,228
Total Investments in Securities — 101.6%
(Cost: $133,617,491)				107,142,698
Liabilities in Excess of Other Assets — (1.6)%				(1,700,679	)
Net Assets — 100.0%			$	105,442,019

^(a) Non-income producing security.

6

Schedule of Investments (unaudited) (continued)	iShares® MSCI BIC ETF
May 31, 2022	(Formerly iShares® MSCI BRIC ETF)

^(b) 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.

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

^(d) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(e) Affiliate of the Fund.

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

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

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	$	2,056,503	$	168,313	(a)	$	—		$	(1,222	)	$	(366	)	$	2,223,228		2,223,228	$	16,100	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares(c)		520,000		—			(520,000	)(a)		—			—			—		—		881			—
									$	(1,222	)	$	(366	)	$	2,223,228			$	16,981		$	—

^(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.

^(c) As of period end, the entity is no longer held.

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
MSCI China Index		6	06/17/22	$	151	$	7,354
MSCI Emerging Markets Index		4	06/17/22		213		9,380
						$	16,734

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

7

Schedule of Investments (unaudited) (continued)	iShares® MSCI BIC ETF
May 31, 2022	(Formerly iShares® MSCI BRIC ETF)

Fair Value Measurements (continued)

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.

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	$	15,293,782	$	86,392,323	$	94,736	$	101,780,841
Preferred Stocks		3,138,598		—		31		3,138,629
Money Market Funds		2,223,228		—		—		2,223,228
	$	20,655,608	$	86,392,323	$	94,767	$	107,142,698
Derivative financial instruments(a)
Assets
Futures Contracts	$	9,380	$	7,354	$	—	$	16,734

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

Portfolio Abbreviations - Equity

ADR	American Depositary Receipt
GDR	Global Depositary Receipt
NVS	Non-Voting Shares
PJSC	Public Joint Stock Company

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