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

Security	Shares		Value
Common Stocks
Automobiles — 13.2%
Ferrari NV		77,373	$	15,097,454
Stellantis NV		1,933,893		29,014,551
				44,112,005
Banks — 19.2%
FinecoBank Banca Fineco SpA		634,415		8,990,027
Intesa Sanpaolo SpA		14,985,884		32,730,442
Mediobanca Banca di Credito Finanziario SpA		669,736		6,870,837
UniCredit SpA		1,355,363		15,891,779
				64,483,085
Beverages — 1.9%
Davide Campari-Milano NV		592,104		6,331,640
Diversified Financial Services — 2.6%
EXOR NV		115,876		8,558,761
Diversified Telecommunication Services — 2.6%
Infrastrutture Wireless Italiane SpA(a)		418,443		4,663,461
Telecom Italia SpA/Milano		12,182,534		3,896,063
				8,559,524
Electric Utilities — 17.9%
Enel SpA		7,377,513		47,932,636
Terna - Rete Elettrica Nazionale		1,421,566		12,050,050
				59,982,686
Electrical Equipment — 2.6%
Prysmian SpA		270,529		8,737,796
Energy Equipment & Services — 2.5%
Tenaris SA		504,373		8,407,940
Gas Utilities — 3.5%
Snam SpA		2,044,130		11,890,918
Health Care Equipment & Supplies — 1.3%
DiaSorin SpA		32,342		4,257,452
Health Care Providers & Services — 1.5%
Amplifon SpA		148,671		5,123,111
Insurance — 6.0%
Assicurazioni Generali SpA		756,211		13,764,019

Security	Shares		Value
Insurance (continued)
Poste Italiane SpA(a)		591,642	$	6,408,955
				20,172,974
IT Services — 1.8%
Nexi SpA(a)(b)		575,486		5,868,674
Machinery — 4.4%
CNH Industrial NV		983,644		14,702,764
Oil, Gas & Consumable Fuels — 10.4%
Eni SpA		2,292,216		34,717,081
Pharmaceuticals — 1.6%
Recordati Industria Chimica e Farmaceutica SpA		122,459		5,487,656
Textiles, Apparel & Luxury Goods — 3.0%
Moncler SpA		209,357		10,073,693
Transportation Infrastructure — 3.6%
Atlantia SpA		500,736		12,139,578
Total Common Stocks — 99.6%
(Cost: $413,390,147)				333,607,338
Short-Term Securities
Money Market Funds — 0.1%
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.72%(c)(d)		280,000		280,000
Total Short-Term Securities — 0.1%
(Cost: $280,000)				280,000
Total Investments in Securities — 99.7%
(Cost: $413,670,147)				333,887,338
Other Assets Less Liabilities — 0.3%				1,066,204
Net Assets — 100.0%			$	334,953,542

^(a) 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.

^(b) Non-income producing security.

^(c) Affiliate of the Fund.

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

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Italy 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(a)	$	—	$	713	(b)	$	—		$	(713	)	$	—	$	—		—	$	1,604	(c)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		450,000		—			(170,000	)(b)		—			—		280,000		280,000		215			—
									$	(713	)	$	—	$	280,000			$	1,819		$	—

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

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

^(c) 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
FTSE/MIB Index		9	06/17/22	$	1,185	$	20,392

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 Italy 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	$	—	$	333,607,338	$	—	$	333,607,338
Money Market Funds		280,000		—		—		280,000
	$	280,000	$	333,607,338	$	—	$	333,887,338
Derivative financial instruments(a)
Assets
Futures Contracts	$	—	$	20,392	$	—	$	20,392

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

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