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

Security	Shares		Value
Common Stocks
Australia — 1.8%
Beach Energy Ltd.		81,315	$	99,485
Boss Energy Ltd. (a)		15,561		27,137
Karoon Energy Ltd.(a)		27,729		39,960
New Hope Corp. Ltd.(b)		24,921		66,217
Paladin Energy Ltd.(a)		134,433		75,863
Santos Ltd.		162,585		946,210
Washington H Soul Pattinson & Co. Ltd.		10,764		197,987
Whitehaven Coal Ltd.		46,449		175,028
Yangzhou Yangjie Electronic Technology Co. Ltd.		49,491		1,044,079
				2,671,966
Austria — 0.3%
OMV AG		7,488		437,456
Brazil — 1.1%
3R Petroleum Oleo E Gas SA(a)		9,126		93,611
Enauta Participacoes SA		5,265		26,123
Petro Rio SA(a)		35,568		209,477
Petroleo Brasileiro SA		188,097		1,316,368
Petroreconcavo SA		3,627		21,926
				1,667,505
Canada — 9.6%
Advantage Energy Ltd.(a)(b)		9,503		82,494
ARC Resources Ltd.		34,826		524,517
Athabasca Oil Corp.(a)		26,676		54,624
Baytex Energy Corp.(a)		28,665		157,959
Birchcliff Energy Ltd.		13,572		122,323
Cameco Corp.		20,124		493,057
Canacol Energy Ltd.		7,605		18,338
Canadian Natural Resources Ltd.		59,436		3,933,579
Cardinal Energy Ltd.(a)		6,435		47,060
Cenovus Energy Inc.		70,452		1,633,121
Crescent Point Energy Corp.		29,432		260,615
Crew Energy Inc.(a)		7,020		34,910
Denison Mines Corp.(a)		40,833		51,007
Energy Fuels Inc./Canada(a)		7,722		49,573
Enerplus Corp.		12,519		185,679
Freehold Royalties Ltd.		6,552		81,327
Frontera Energy Corp.(a)		3,042		33,189
Headwater Exploration Inc.(a)		9,243		53,492
Imperial Oil Ltd.		11,844		648,735
Kelt Exploration Ltd.(a)		8,190		46,038
MEG Energy Corp.(a)		14,040		244,980
NexGen Energy Ltd.(a)(b)		20,241		96,016
NuVista Energy Ltd.(a)		9,126		93,435
Obsidian Energy Ltd.(a)		3,510		33,966
Paramount Resources Ltd., Class A		3,861		115,325
Parex Resources Inc.		6,201		137,321
Peyto Exploration & Development Corp.		8,541		104,530
Pipestone Energy Corp.(a)		6,084		28,091
PrairieSky Royalty Ltd.		10,764		161,181
Spartan Delta Corp.(a)		6,435		73,922
Suncor Energy Inc.		72,306		2,909,161
Surge Energy Inc.(a)		3,510		32,024
Tamarack Valley Energy Ltd.		21,996		91,820
Topaz Energy Corp.		4,329		80,909
Tourmaline Oil Corp.		15,845		978,122
Vermilion Energy Inc.		8,190		177,158

Security	Shares		Value
Canada (continued)
Whitecap Resources Inc.	32,598	$	289,938
			14,159,536
China — 1.4%
AAG Energy Holdings Ltd.(c)	67,000		13,576
CGN Mining Co. Ltd.	90,000		9,273
China Coal Energy Co. Ltd., Class H	104,000		95,172
China Shenhua Energy Co. Ltd., Class A	21,700		110,193
China Shenhua Energy Co. Ltd., Class H	170,500		569,406
Guanghui Energy Co. Ltd., Class A(a)	23,400		36,981
Inner Mongolia Dian Tou Energy Corp. Ltd.	5,800		13,033
Inner Mongolia Yitai Coal Co. Ltd., Class B	55,400		92,179
Jizhong Energy Resources Co. Ltd.	10,700		12,615
PetroChina Co. Ltd., Class A	58,500		48,969
PetroChina Co. Ltd., Class H	1,050,000		552,927
Pingdingshan Tianan Coal Mining Co. Ltd.	7,000		16,054
Shaanxi Coal Industry Co. Ltd., Class A	28,100		79,853
Shan Xi Hua Yang Group New Energy Co. Ltd.	7,300		13,801
Shanxi Coking Coal Energy Group Co. Ltd., Class A	11,710		25,032
Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A	11,700		27,920
United Energy Group Ltd.	398,000		63,906
Yankuang Energy Group Co. Ltd., Class A	6,100		35,309
Yankuang Energy Group Co. Ltd., Class H	78,000		256,236
			2,072,435
Colombia — 0.1%
Ecopetrol SA	252,486		208,954
Finland — 0.7%
Neste OYJ	21,326		979,566
France — 5.0%
Etablissements Maurel et Prom SA(a)	3,042		16,035
TotalEnergies SE	125,190		7,409,128
			7,425,163
Greece — 0.0%
Hellenic Petroleum Holdings SA	2,971		21,220
Motor Oil Hellas Corinth Refineries SA	2,974		52,300
			73,520
Hungary — 0.1%
MOL Hungarian Oil & Gas PLC	20,709		148,583
India — 4.1%
Bharat Petroleum Corp. Ltd.	42,939		179,930
Coal India Ltd.	76,284		189,666
Gujarat Mineral Development Corp. Ltd.	3,159		6,311
Hindustan Petroleum Corp. Ltd.	31,244		91,533
Indian Oil Corp. Ltd.	93,366		139,324
Oil & Natural Gas Corp. Ltd.	125,580		244,905
Oil India Ltd.	13,806		42,395
Reliance Industries Ltd.	107,002		3,604,733
Reliance Industries Ltd., GDR(c)	23,444		1,577,299
			6,076,096
Indonesia — 0.3%
Adaro Energy Indonesia Tbk PT	725,400		162,806
Bukit Asam Tbk PT	189,800		58,953
Harum Energy Tbk PT	23,400		19,058
Indika Energy Tbk PT(a)	81,900		16,250
Indo Tambangraya Megah Tbk PT	23,400		56,169
Medco Energi Internasional Tbk PT(a)	397,812		15,811
Sugih Energy Tbk PT(a)(d)	206,700		—

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

Security	Shares		Value
Indonesia (continued)
United Tractors Tbk PT	84,500	$	181,824
			510,871
Israel — 0.2%
Delek Group Ltd.(a)	468		74,331
Equital Ltd.(a)	1,054		37,838
Naphtha Israel Petroleum Corp. Ltd.(a)	1,639		12,595
Oil Refineries Ltd.	103,428		43,662
Paz Oil Co. Ltd.(a)	487		67,772
			236,198
Italy — 1.3%
Eni SpA	127,413		1,929,752
Saras SpA(a)	28,899		39,482
			1,969,234
Japan — 1.2%
Cosmo Energy Holdings Co. Ltd.	3,836		104,460
ENEOS Holdings Inc.	154,200		620,776
Idemitsu Kosan Co. Ltd.	10,668		287,740
Inpex Corp.	52,200		669,780
Japan Petroleum Exploration Co. Ltd.	1,300		31,602
			1,714,358
Malaysia — 0.0%
Hibiscus Petroleum Bhd	70,200		22,446
Norway — 1.5%
Aker BP ASA	6,435		277,235
BW Energy Ltd.(a)	4,563		13,868
DNO ASA	22,815		41,807
Equinor ASA	49,257		1,869,143
			2,202,053
Philippines — 0.0%
Semirara Mining & Power Corp.	32,400		20,456
Poland — 0.2%
Grupa Lotos SA(a)	4,680		77,200
Polski Koncern Naftowy ORLEN SA	15,093		260,506
			337,706
Portugal — 0.2%
Galp Energia SGPS SA	25,159		328,480
Russia — 0.0%
LUKOIL PJSC(d)	17,021		3
Rosneft Oil Co. PJSC(d)	47,821		8
Surgutneftegas PJSC(d)	285,010		45
Tatneft PJSC(d)	57,983		9
			65
Saudi Arabia — 1.0%
Rabigh Refining & Petrochemical Co.(a)	11,232		81,037
Saudi Arabian Oil Co.(c)	122,131		1,363,874
			1,444,911
South Africa — 0.2%
Exxaro Resources Ltd.	12,402		175,894
Thungela Resources Ltd.	6,582		105,169
			281,063
South Korea — 0.6%
HD Hyundai Co. Ltd.	2,457		123,732
SK Innovation Co. Ltd.(a)	2,831		490,456
S-Oil Corp.	2,223		205,166
			819,354

Security	Shares		Value
Spain — 0.8%
Repsol SA	73,278	$	1,175,845
Sweden — 0.3%
Lundin Energy AB	10,062		482,836
Thailand — 0.5%
Bangchak Corp. PCL, NVDR	46,800		44,922
Banpu PCL, NVDR	280,800		101,657
Esso Thailand PCL, NVDR(a)	46,800		14,031
IRPC PCL, NVDR	573,300		57,785
PTT Exploration & Production PCL, NVDR	70,231		345,777
Star Petroleum Refining PCL, NVDR	93,600		33,354
Thai Oil PCL, NVDR	58,500		98,225
			695,751
Turkey — 0.1%
Turkiye Petrol Rafinerileri AS(a)	6,318		102,502
United Arab Emirates — 0.0%
Dana Gas PJSC	168,480		49,468
United Kingdom — 11.7%
BP PLC	983,970		5,347,454
Capricorn Energy PLC(a)(b)	16,731		41,574
Diversified Energy Co. PLC	41,301		64,118
Energean PLC(a)	6,084		102,560
EnQuest PLC(a)	73,242		27,549
Genel Energy PLC	6,903		13,778
Gulf Keystone Petroleum Ltd.	9,945		34,776
Harbour Energy PLC	23,249		111,910
Pantheon Resources PLC(a)(b)	35,451		44,806
Serica Energy PLC	10,062		32,990
Shell PLC	384,345		11,367,370
Tullow Oil PLC(a)	61,893		42,326
			17,231,211
United States — 53.7%
Antero Resources Corp.(a)	14,274		612,069
APA Corp.	17,550		825,026
Arch Resources Inc.(b)	819		125,176
Berry Corp.	2,808		31,253
Brigham Minerals Inc., Class A	2,340		70,925
California Resources Corp.	2,808		122,625
Callon Petroleum Co.(a)	1,841		107,625
Centennial Resource Development Inc./DE, Class A(a)	9,945		78,963
Centrus Energy Corp., Class A(a)	438		11,208
Chesapeake Energy Corp.	5,348		520,788
Chevron Corp.	98,354		17,178,510
Civitas Resources Inc.	2,808		214,391
CNX Resources Corp.(a)	10,413		226,170
Comstock Resources Inc.(a)	4,680		90,324
ConocoPhillips	65,637		7,374,973
CONSOL Energy Inc.(a)	1,638		84,455
Coterra Energy Inc.	41,067		1,409,830
Crescent Energy Co.	1,793		32,400
CVR Energy Inc.	1,521		52,368
Delek U.S. Holdings Inc.(a)	3,393		98,940
Denbury Inc.(a)	2,574		188,262
Devon Energy Corp.	31,824		2,383,618
Diamondback Energy Inc.	8,553		1,300,227
Earthstone Energy Inc., Class A(a)	1,989		35,842
Enviva Inc.	1,638		127,584
EOG Resources Inc.	29,544		4,046,346

2

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

Security	Shares		Value
United States (continued)
EQT Corp.(b)	17,082	$	815,153
Exxon Mobil Corp.	213,759		20,520,864
Gran Tierra Energy Inc.(a)	18,135		33,006
Gulfport Energy Corp.(a)	585		56,599
Hess Corp.	14,051		1,729,257
HF Sinclair Corp.	7,839		384,895
Kimbell Royalty Partners LP	2,106		39,930
Kosmos Energy Ltd.(a)(b)	22,932		177,494
Laredo Petroleum Inc.(a)	702		59,087
Magnolia Oil & Gas Corp., Class A	8,307		229,356
Marathon Oil Corp.	36,387		1,143,643
Marathon Petroleum Corp.	28,519		2,902,949
Matador Resources Co.	5,967		363,390
Murphy Oil Corp.(b)	7,540		319,847
Northern Oil and Gas Inc.	3,276		107,092
Oasis Petroleum Inc.	873		138,571
Occidental Petroleum Corp.	47,151		3,268,036
Ovintiv Inc.	13,153		736,436
Par Pacific Holdings Inc.(a)	2,340		38,376
PBF Energy Inc., Class A(a)	4,914		163,145
PDC Energy Inc.	4,914		388,894
Peabody Energy Corp.(a)	5,382		127,069
Pioneer Natural Resources Co.	11,666		3,242,448
Range Resources Corp.(a)	13,221		448,853
Ranger Oil Corp.(a)	1,053		45,079
SandRidge Energy Inc.(a)	1,521		35,850
SilverBow Resources Inc.(a)	468		18,074
SM Energy Co.	6,201		299,322
Southwestern Energy Co.(a)	44,942		409,871
Talos Energy Inc.(a)	2,925		63,180
Tellurian Inc.(a)(b)	22,230		106,037
Texas Pacific Land Corp.	334		523,041
Uranium Energy Corp.(a)	14,274		54,527
Valero Energy Corp.	20,693		2,681,813
Viper Energy Partners LP	3,159		106,016
W&T Offshore Inc.(a)	5,031		33,859
Whiting Petroleum Corp.	1,989		175,947
			79,336,904
Total Common Stocks — 98.0%
(Cost: $101,514,210)			144,882,492

Security	Shares		Value
Preferred Stocks
Brazil — 1.0%
Petroleo Brasileiro SA, Preference Shares, NVS	240,318	$	1,520,018
Russia — 0.0%
Surgutneftegas PJSC, Preference Shares, NVS(d)	275,500		44
Total Preferred Stocks — 1.0%
(Cost: $1,173,472)			1,520,062
Short-Term Securities
Money Market Funds — 0.7%
BlackRock Cash Funds: Institutional, SL Agency Shares,
0.87%(e)(f)(g)	933,807		933,807
BlackRock Cash Funds: Treasury, SL Agency Shares,
0.72%(e)(f)	160,000		160,000
			1,093,807
Total Short-Term Securities — 0.7%
(Cost: $1,093,705)			1,093,807
Total Investments in Securities — 99.7%
(Cost: $103,781,387)			147,496,361
Other Assets Less Liabilities — 0.3%			374,796
Net Assets — 100.0%		$	147,871,157

^(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) 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	$	525,991	$	408,179	(a)	$	—	$	(376	)	$	13	$	933,807		933,807	$	4,741	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		100,000		60,000	(a)		—		—			—		160,000		160,000		197			—
								$	(376	)	$	13	$	1,093,807			$	4,938		$	—

^(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.

3

Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Energy Producers ETF
May 31, 2022

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
E-mini Energy Select Sector Index	14	06/17/22	$	1,269	$	85,298
FTSE 100 Index	2	06/17/22		191		4,135
					$	89,433

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.

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	$	95,998,356	$	48,884,071	$	65	$	144,882,492
Preferred Stocks		1,520,018		—		44		1,520,062
Money Market Funds		1,093,807		—		—		1,093,807
	$	98,612,181	$	48,884,071	$	109	$	147,496,361
Derivative financial instruments(a)
Assets
Futures Contracts	$	85,298	$	4,135	$	—	$	89,433

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

Portfolio Abbreviations - Equity

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

4