Schedule of Investments (unaudited)	iShares® MSCI Global Energy Producers ETF
November 30, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Australia — 2.8%
Beach Energy Ltd.		72,904	$	87,889
Boss Energy Ltd. (a)		15,392		26,305
Karoon Energy Ltd.(a)		26,312		41,605
New Hope Corp. Ltd.		22,984		92,759
Paladin Energy Ltd.(a)		124,696		69,069
Santos Ltd.		146,880		732,658
Terracom Ltd.		18,359		10,779
Washington H Soul Pattinson & Co. Ltd.		10,088		195,283
Whitehaven Coal Ltd.		39,624		270,357
Woodside Energy Group Ltd.		87,293		2,204,544
				3,731,248
Austria — 0.3%
OMVAG		6,760		358,765
Bermuda — 0.0%
Productive Technologies Co. Ltd.(a)		208,000		30,357
Brazil — 1.0%
3R Petroleum Oleo E Gas SA(a)		8,528		60,788
Enauta Participacoes SA		4,680		12,085
Petro Rio SA(a)		32,552		226,136
Petroleo Brasileiro SA		171,039		1,001,643
Petroreconcavo SA		5,812		34,417
				1,335,069
Canada — 8.4%
Advantage Energy Ltd.(a)		8,450		72,618
ARC Resources Ltd.		30,417		451,795
Athabasca Oil Corp.(a)		26,832		55,254
Baytex Energy Corp.(a)		25,584		130,664
Birchcliff Energy Ltd.		12,064		96,322
Cameco Corp.		19,848		483,529
Canadian Natural Resources Ltd.		51,610		3,081,291
Cardinal Energy Ltd.		5,720		34,699
Cenovus Energy Inc.		63,727		1,267,292
Crescent Point Energy Corp.		26,065		202,490
Crew Energy Inc.(a)		6,240		31,313
Denison Mines Corp.(a)(b)		38,480		47,487
Energy Fuels Inc./Canada(a)		7,176		49,986
Enerplus Corp.		10,877		202,233
Freehold Royalties Ltd.		5,928		72,891
Frontera Energy Corp.(a)		2,704		21,529
Headwater Exploration Inc.(a)		9,568		46,092
Imperial Oil Ltd.		10,289		585,375
Kelt Exploration Ltd.(a)		7,280		29,441
MEG Energy Corp.(a)		12,480		177,669
NexGen Energy Ltd.(a)		18,616		88,295
NuVista Energy Ltd.(a)		8,424		86,423
Obsidian Energy Ltd.(a)		3,120		23,635
Paramount Resources Ltd., Class A		3,640		81,235
Parex Resources Inc.		5,304		75,943
Peyto Exploration & Development Corp.		7,696		85,819
Pipestone Energy Corp.(a)		5,408		13,669
PrairieSky Royalty Ltd.		9,984		163,734
Spartan Delta Corp.(a)		6,032		69,102
Suncor Energy Inc.		62,820		2,065,590
Surge Energy Inc.		3,120		23,102
Tamarack Valley Energy Ltd.		20,280		78,096
Topaz Energy Corp.		4,368		76,472
Tourmaline Oil Corp.		14,730		896,513

Security	Shares		Value
Canada (continued)
Vermilion Energy Inc.		7,592	$	150,073
Whitecap Resources Inc.		27,840		222,074
				11,339,745
Cayman Islands — 0.0%
Kinetic Development Group Ltd.		208,000		17,309
China — 1.3%
AAG Energy Holdings Ltd.(c)		67,000		12,238
CGN Mining Co. Ltd.(a)		90,000		9,703
China Coal Energy Co. Ltd., Class H		91,000		84,611
China Shenhua Energy Co. Ltd., Class A		18,400		80,379
China Shenhua Energy Co. Ltd., Class H		152,000		471,117
Guanghui Energy Co. Ltd., Class A		20,800		31,692
Inner Mongolia Dian Tou Energy Corp. Ltd.		5,800		11,178
Inner Mongolia Yitai Coal Co. Ltd., Class B		50,200		74,494
Jizhong Energy Resources Co. Ltd.		10,700		10,678
PetroChina Co. Ltd., Class A		58,300		43,577
PetroChina Co. Ltd., Class H		946,000		430,460
Pingdingshan Tianan Coal Mining Co. Ltd.		7,000		12,294
Shaanxi Coal Industry Co. Ltd., Class A		25,500		73,420
Shan Xi Hua Yang Group New Energy Co. Ltd.		7,300		17,657
Shanxi Coking Coal Energy Group Co. Ltd., Class A		10,410		19,697
Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A		10,400		28,342
United Energy Group Ltd.		372,000		34,585
Yankuang Energy Group Co. Ltd., Class A		6,900		40,018
Yankuang Energy Group Co. Ltd., Class H		68,000		228,323
				1,714,463
Finland — 0.7%
Neste OYJ		19,480		1,005,491
France — 5.3%
Etablissements Maurel et Prom SA		2,704		11,805
TotalEnergies SE		114,269		7,141,822
				7,153,627
Greece — 0.1%
Hellenic Energy Holdings SA		2,971		22,109
Motor Oil Hellas Corinth Refineries SA		2,974		60,034
				82,143
Hungary — 0.1%
MOL Hungarian Oil & Gas PLC		18,824		136,274
India — 4.1%
Bharat Petroleum Corp. Ltd.		40,768		171,358
Coal India Ltd.		72,280		203,678
Gujarat Mineral Development Corp. Ltd.		4,056		7,896
Hindustan Petroleum Corp. Ltd.		30,576		90,236
Indian Oil Corp. Ltd.		131,622		124,546
Oil & Natural Gas Corp. Ltd.		116,519		204,160
Oil India Ltd.		12,480		31,618
Reliance Industries Ltd.		101,052		3,399,137
Reliance Industries Ltd., GDR(c)		19,284		1,283,302
				5,515,931
Indonesia — 0.4%
Adaro Energy Indonesia Tbk PT		655,200		162,143
Bukit Asam Tbk PT		179,400		43,528
Bumi Resources Tbk PT(a)		3,151,200		36,457
Harum Energy Tbk PT		124,800		14,041
Indika Energy Tbk PT		72,800		13,496
Indo Tambangraya Megah Tbk PT		20,800		55,399

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Energy Producers ETF
November 30, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
Indonesia (continued)
Medco Energi Internasional Tbk PT		353,612	$	24,020
Sugih Energy Tbk PT(a)(d)		206,700		—
United Tractors Tbk PT		75,400		148,307
				497,391
Israel — 0.1%
Delek Group Ltd.(a)		416		53,090
Equital Ltd.(a)		1,014		32,844
Naphtha Israel Petroleum Corp. Ltd.(a)		1,457		8,230
Oil Refineries Ltd.		98,280		36,532
Paz Oil Co. Ltd.(a)		435		58,786
				189,482
Italy — 1.3%
Eni SpA		115,016		1,714,888
Saras SpA(a)		25,688		31,258
				1,746,146
Japan — 1.0%
Cosmo Energy Holdings Co. Ltd.		3,536		99,460
ENEOS Holdings Inc.		138,200		466,395
Idemitsu Kosan Co. Ltd.		9,268		217,646
Inpex Corp.		46,800		515,719
Japan Petroleum Exploration Co. Ltd.		1,400		43,912
				1,343,132
Malaysia — 0.0%
Hibiscus Petroleum Bhd		62,400		15,641
Norway — 1.6%
Aker BP ASA		14,445		502,545
BW Energy Ltd.(a)		4,056		11,255
DNOASA		20,592		26,317
Equinor ASA		43,884		1,690,008
				2,230,125
Philippines — 0.0%
Semirara Mining & Power Corp.		30,800		18,334
Poland — 0.3%
Polski Koncern Naftowy ORLEN SA		29,299		431,258
Portugal — 0.2%
Galp Energia SGPS SA		23,092		284,532
Russia — 0.0%
LUKOIL PJSC(d)		17,021		3
Rosneft Oil Co. PJSC(d)		47,821		8
Surgutneftegas PJSC(d)		285,010		47
Tatneft PJSC(d)		57,983		9
				67
Saudi Arabia — 0.8%
Rabigh Refining & Petrochemical Co.(a)		18,847		51,660
Saudi Arabian Oil Co.(c)		111,391		996,463
				1,048,123
South Africa — 0.2%
Exxaro Resources Ltd.		11,232		146,848
Thungela Resources Ltd.(b)		5,854		106,855
				253,703
South Korea — 0.4%
HD Hyundai Co. Ltd.		2,288		113,130
SK Innovation Co. Ltd.(a)		2,519		348,530
S-Oil Corp.		2,080		137,712
				599,372

Security	Shares		Value
Spain — 0.7%
Repsol SA		63,595	$	981,927
Sweden — 0.0%
Orron Energy AB		8,944		20,363
Thailand — 0.5%
Bangchak Corp. PCL, NVDR		46,500		42,376
Banpu PCL, NVDR		270,400		101,101
Esso Thailand PCL, NVDR		41,600		14,353
IRPC PCL, NVDR		509,600		44,763
PTT Exploration & Production PCL, NVDR		62,431		332,883
Star Petroleum Refining PCL, NVDR		83,200		27,502
Thai Oil PCL, NVDR		55,100		87,086
				650,064
Turkey — 0.1%
Turkiye Petrol Rafinerileri AS(a)		5,616		145,107
United Arab Emirates — 0.0%
Dana Gas PJSC		159,952		39,414
United Kingdom — 11.3%
BP PLC		865,293		5,167,300
Capricorn Energy PLC(a)		14,872		44,704
Diversified Energy Co. PLC		38,480		58,807
Energean PLC		5,616		100,515
EnQuest PLC(a)		65,104		19,019
Genel Energy PLC		7,488		13,348
Gulf Keystone Petroleum Ltd.		8,840		22,801
Harbour Energy PLC		20,467		78,587
Pantheon Resources PLC(a)(b)		33,176		29,341
Serica Energy PLC		8,944		34,174
Shell PLC		334,000		9,774,777
Tullow Oil PLC(a)		55,016		28,988
				15,372,361
United States — 55.2%
Antero Resources Corp.(a)		12,688		463,746
APA Corp.		14,976		701,626
Arch Resources Inc.		832		128,752
Berry Corp.		2,496		22,489
Brigham Minerals Inc., Class A		2,288		81,064
California Resources Corp.		2,392		108,549
Callon Petroleum Co.(a)		2,226		93,314
Centrus Energy Corp., Class A(a)(b)		438		16,644
Chesapeake Energy Corp.		4,743		490,900
Chevron Corp.		85,488		15,670,805
Chord Energy Corp.		1,801		274,707
Civitas Resources Inc.		2,496		168,131
CNX Resources Corp.(a)(b)		8,736		151,744
Comstock Resources Inc.		4,368		80,153
ConocoPhillips		58,520		7,227,805
CONSOL Energy Inc.		1,494		115,710
Coterra Energy Inc.		36,606		1,021,673
Crescent Energy Co., Class A		1,806		25,374
CVR Energy Inc.		1,352		49,821
Delek U.S. Holdings Inc.		2,912		90,214
Denbury Inc.(a)		2,288		205,371
Devon Energy Corp.		28,553		1,956,452
Diamondback Energy Inc.		7,812		1,156,332
Earthstone Energy Inc., Class A(a)		2,184		34,595
Enviva Inc.		1,499		85,068
EOG Resources Inc.		26,955		3,825,723

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Global Energy Producers ETF
November 30, 2022	(Percentages shown are based on Net Assets)

Security	Shares		Value
United States (continued)
EQT Corp.		15,292	$	648,534
Exxon Mobil Corp.		191,608		21,333,635
Gran Tierra Energy Inc.(a)		16,120		19,183
Gulfport Energy Corp.(a)		560		45,410
Hess Corp.		12,853		1,849,675
HF Sinclair Corp.		7,488		466,802
Kimbell Royalty Partners LP(b)		2,392		41,310
Kosmos Energy Ltd.(a)		20,904		139,012
Laredo Petroleum Inc.(a)		694		44,298
Magnolia Oil & Gas Corp., Class A(b)		7,806		203,580
Marathon Oil Corp.		31,147		954,033
Marathon Petroleum Corp.		22,894		2,788,718
Matador Resources Co.		5,408		358,875
Murphy Oil Corp.		6,812		321,526
Northern Oil and Gas Inc.		3,120		113,537
Occidental Petroleum Corp.		42,836		2,976,674
Ovintiv Inc.		11,697		652,225
Par Pacific Holdings Inc.(a)		2,288		53,608
PBF Energy Inc., Class A		4,472		177,851
PDC Energy Inc.		4,472		332,359
Peabody Energy Corp.(a)		5,304		169,410
Permian Res Corp., NVS		9,152		92,984
Pioneer Natural Resources Co.		10,457		2,467,747
Range Resources Corp.		12,064		348,288
Ranger Oil Corp.		936		40,781
SandRidge Energy Inc.(a)		1,313		26,785
SilverBow Resources Inc.(a)(b)		624		21,784
SM Energy Co.		5,616		242,106
Southwestern Energy Co.(a)		40,886		282,931
Talos Energy Inc.(a)		2,600		51,090
Tellurian Inc.(a)		21,632		58,190
Texas Pacific Land Corp.		282		731,096
Uranium Energy Corp.(a)		15,561		60,377
VAALCO Energy Inc.		4,680		24,242
Valero Energy Corp.		18,068		2,414,246
Viper Energy Partners LP		2,785		91,989
W&T Offshore Inc.(a)		4,472		30,723
				74,922,376
Total Common Stocks — 98.2%
(Cost: $94,494,009)				133,209,340

Security	Shares		Value
Preferred Stocks
Brazil — 0.8%
Petroleo Brasileiro SA, Preference Shares, NVS		218,808	$	1,124,114
Russia — 0.0%
Surgutneftegas PJSC, Preference Shares, NVS(d)		275,500		45
Total Preferred Stocks — 0.8%
(Cost: $1,021,996)				1,124,159
Total Long-Term Investments — 99.0%
(Cost: $95,516,005)				134,333,499
Short-Term Securities
Money Market Funds — 0.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 4.06%(e)(f)(g)		462,447		462,494
BlackRock Cash Funds: Treasury, SL Agency Shares, 3.64%(e)(f)		70,000		70,000
Total Short-Term Securities — 0.4%
(Cost: $532,345)				532,494
Total Investments — 99.4%
(Cost: $96,048,350)				134,865,993
Other Assets Less Liabilities — 0.6%				748,007
Net Assets — 100.0%			$	135,614,000

^(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 November 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 08/31/22		Purchases at Cost		Proceeds from Sale			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)			Value at 11/30/22		Shares Held at 11/30/22		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	504,806	$	—	$	(42,350	)(a)	$	149	$	(112	)	$	462,493		462,447	$	1,598	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		160,000		—		(90,000	)(a)		—		—			70,000		70,000		964			—
								$	149	$	(112	)	$	532,493			$	2,562		$	—

^(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
November 30, 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		11	12/16/22	$	1,046	$	13,164
FTSE 100 Index		2	12/16/22		184		3,482
						$	16,646

Fair Value Hierarchy as of Period End

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 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 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	$	88,065,767	$	45,143,506	$	67	$	133,209,340
Preferred Stocks		1,124,114		—		45		1,124,159
Money Market Funds		532,494		—		—		532,494
	$	89,722,375	$	45,143,506	$	112	$	134,865,993
Derivative financial instruments(a)
Assets
Futures Contracts	$	13,164	$	3,482	$	—	$	16,646

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

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

4