Schedule of Investments (unaudited)	iShares® MSCI South Korea ETF
May 31, 2023	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Aerospace & Defense — 0.9%
Hanwha Aerospace Co. Ltd.		148,719	$	11,888,556
Korea Aerospace Industries Ltd.		450,592		17,474,690
				29,363,246
Air Freight & Logistics — 0.4%
Hyundai Glovis Co. Ltd.		117,463		14,944,007
Passenger Airlines — 0.5%
Korean Air Lines Co. Ltd.		1,039,622		17,283,710
Automobile Components — 2.1%
Hankook Tire & Technology Co. Ltd.		497,862		12,928,166
Hanon Systems		1,262,683		8,918,139
Hyundai Mobis Co. Ltd.		295,023		49,525,877
				71,372,182
Automobiles — 5.1%
Hyundai Motor Co.		623,654		93,845,114
Kia Corp.		1,207,334		78,000,618
				171,845,732
Banks — 6.5%
Hana Financial Group Inc.		1,448,607		45,189,173
Industrial Bank of Korea		1,615,360		12,419,107
KakaoBank Corp.		679,119		13,394,538
KB Financial Group Inc.		1,798,461		64,854,483
Shinhan Financial Group Co. Ltd.		2,158,582		56,872,981
Woori Financial Group Inc.		2,873,810		25,912,425
				218,642,707
Biotechnology — 2.0%
Celltrion Inc.		470,576		60,637,967
SK Bioscience Co. Ltd.(a)(b)		114,679		7,125,729
				67,763,696
Capital Markets — 1.3%
Korea Investment Holdings Co. Ltd.		254,068		10,602,397
Mirae Asset Securities Co. Ltd.		2,377,501		13,065,051
NH Investment & Securities Co. Ltd.(b)		1,129,253		8,497,005
Samsung Securities Co. Ltd.		411,477		11,388,121
				43,552,574
Chemicals — 5.1%
Hanwha Solutions Corp.(a)		590,649		19,881,678
Kumho Petrochemical Co. Ltd.(b)		138,187		13,201,725
LG Chem Ltd.		212,233		110,609,238
Lotte Chemical Corp.		118,659		14,885,840
SK IE Technology Co. Ltd.(a)(b)(c)		107,449		7,165,080
SKC Co. Ltd.		89,526		6,397,858
				172,141,419
Construction & Engineering — 1.0%
Hyundai Engineering & Construction Co. Ltd.		470,631		13,559,937
Samsung Engineering Co. Ltd.(a)(b)		994,176		21,185,744
				34,745,681
Construction Materials — 1.2%
POSCO Future M Co. Ltd.(b)		154,285		40,635,315
Financial Services — 0.8%
Kakao Pay Corp.(a)		115,991		5,244,427
Meritz Financial Group Inc.(b)		666,847		22,610,091
				27,854,518
Diversified Telecommunication Services — 0.5%
KT Corp.		279,008		6,633,301

Security	Shares		Value
Diversified Telecommunication Services (continued)
LG Uplus Corp.		1,275,478	$	10,799,380
				17,432,681
Electric Utilities — 0.6%
Korea Electric Power Corp.(a)		1,319,303		18,978,521
Electrical Equipment — 3.8%
Doosan Enerbility Co. Ltd.(a)		1,855,658		22,432,236
Ecopro BM Co. Ltd.(b)		205,433		38,377,697
LG Energy Solution(a)		146,333		65,941,692
				126,751,625
Electronic Equipment, Instruments & Components — 6.7%
L&F Co. Ltd.(b)		104,955		21,253,441
LG Display Co. Ltd.(a)(b)		1,338,674		15,859,556
LG Innotek Co. Ltd.		83,539		19,288,640
Lotte Energy Materials Corp.(b)		100,876		4,348,679
Samsung Electro-Mechanics Co. Ltd.		289,621		32,143,107
Samsung SDI Co. Ltd.		242,262		130,869,800
				223,763,223
Entertainment — 2.2%
HYBE Co. Ltd.(a)		78,651		16,209,810
Kakao Games Corp.(a)(b)		161,065		4,708,846
Krafton Inc.(a)(b)		123,647		17,604,791
NCSoft Corp.		87,065		21,046,843
Netmarble Corp.(a)(b)(c)		165,099		6,958,410
Pearl Abyss Corp.(a)(b)		231,530		8,700,034
				75,228,734
Consumer Staples Distribution & Retail — 0.5%
BGF retail Co. Ltd.		63,424		9,108,194
E-MART Inc.(b)		136,513		8,668,557
				17,776,751
Food Products — 0.8%
CJ CheilJedang Corp.(b)		54,289		12,671,613
Orion Corp./Republic of Korea		149,902		14,586,404
				27,258,017
Health Care Equipment & Supplies — 0.5%
HLB Inc.(a)(b)		656,766		18,310,493
Health Care Providers & Services — 0.7%
Celltrion Healthcare Co. Ltd.		443,778		24,704,859
Hotels, Restaurants & Leisure — 0.3%
Kangwon Land Inc.		702,914		9,648,472
Household Durables — 1.8%
Coway Co. Ltd.		291,760		10,583,194
LG Electronics Inc.		525,431		48,554,201
				59,137,395
Industrial Conglomerates — 3.1%
CJ Corp.		115,531		7,706,846
GS Holdings Corp.		330,701		9,594,581
LG Corp.		440,471		28,566,596
Samsung C&T Corp.		419,666		34,956,791
SK Inc.		189,970		24,014,758
				104,839,572
Insurance — 1.9%
DB Insurance Co. Ltd.		319,711		17,845,787
Samsung Fire & Marine Insurance Co. Ltd.		159,636		27,114,155
Samsung Life Insurance Co. Ltd.		381,680		19,066,237
				64,026,179

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Schedule of Investments (unaudited) (continued)	iShares® MSCI South Korea ETF
May 31, 2023	(Percentages shown are based on Net Assets)

Security	Shares		Value
Interactive Media & Services — 4.1%
Kakao Corp.		1,299,697	$	54,993,034
NAVER Corp.		555,674		83,411,794
				138,404,828
IT Services — 0.5%
Samsung SDS Co. Ltd.		177,486		16,615,837
Life Sciences Tools & Services — 1.5%
Samsung Biologics Co. Ltd.(a)(c)		83,789		49,444,451
Machinery — 1.8%
Doosan Bobcat Inc.		380,665		15,313,027
HD Hyundai Heavy Industries Co. Ltd.(a)(b)		94,169		8,230,726
HD Korea Shipbuilding & Offshore Engineering Co. Ltd.(a)		214,264		15,534,258
Hyundai Mipo Dockyard Co. Ltd.(a)(b)		103,321		5,798,630
Samsung Heavy Industries Co. Ltd.(a)		3,565,487		16,438,951
				61,315,592
Marine Transportation — 0.7%
HMM Co. Ltd.(b)		1,124,738		15,023,201
Pan Ocean Co. Ltd.		2,395,473		8,501,431
				23,524,632
Metals & Mining — 3.6%
Hyundai Steel Co.		522,974		12,840,466
Korea Zinc Co. Ltd.		51,015		18,465,341
POSCO Holdings Inc.		328,478		89,006,997
				120,312,804
Broadline Retail — 0.0%
Lotte Shopping Co. Ltd.		1		60
Oil, Gas & Consumable Fuels — 2.0%
HD Hyundai Co. Ltd.		296,819		12,774,272
SK Innovation Co. Ltd.(a)		271,876		38,697,971
S-Oil Corp.		260,036		14,131,725
				65,603,968
Personal Care Products — 0.9%
Amorepacific Corp.(b)		167,679		13,192,650
LG H&H Co. Ltd.		45,583		18,075,747
				31,268,397
Pharmaceuticals — 1.2%
Celltrion Pharm Inc.(a)(b)		85,619		5,489,073
Hanmi Pharm Co. Ltd.		48,415		10,653,407
SK Biopharmaceuticals Co. Ltd.(a)		133,891		7,412,198
Yuhan Corp.		367,640		16,435,472
				39,990,150
Semiconductors & Semiconductor Equipment — 6.2%
SK Hynix Inc.		2,363,047		192,714,479
SK Square Co. Ltd.(a)		416,347		14,480,495
				207,194,974
Specialty Retail — 0.3%
Hotel Shilla Co. Ltd.(b)		190,503		11,080,225
Technology Hardware, Storage & Peripherals — 23.1%
CosmoAM&T Co. Ltd.(a)		62,993		8,481,333
Samsung Electronics Co. Ltd.		14,364,463		770,660,090
				779,141,423

Security	Shares		Value
Textiles, Apparel & Luxury Goods — 0.2%
F&F Co. Ltd./New(b)		73,409	$	7,148,631
Tobacco — 1.1%
KT&G Corp.		559,216		35,223,093
Trading Companies & Distributors — 0.2%
Posco International Corp.		228,251		5,176,384
Total Common Stocks — 97.7%
(Cost: $1,506,808,124)				3,289,446,758
Preferred Stocks
Automobiles — 0.9%
Hyundai Motor Co.
Preference Shares, NVS		166,257		13,188,542
Series 2, Preference Shares, NVS		218,924		17,389,802
				30,578,344
Chemicals — 0.5%
LG Chem Ltd., Preference Shares, NVS		57,608		15,659,156
Technology Hardware, Storage & Peripherals — 0.1%
Samsung Electronics Co. Ltd., Preference Shares, NVS		88,963		3,918,395
Total Preferred Stocks — 1.5%
(Cost: $21,098,368)				50,155,895
Total Long-Term Investments — 99.2%
(Cost: $1,527,906,492)				3,339,602,653
Short-Term Securities
Money Market Funds — 5.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.29%(d)(e)(f)		170,076,029		170,110,044
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.07%(d)(e)		2,340,000		2,340,000
Total Short-Term Securities — 5.1%
(Cost: $172,459,267)				172,450,044
Total Investments — 104.3%
(Cost: $1,700,365,759)				3,512,052,697
Liabilities in Excess of Other Assets — (4.3)%				(145,889,531	)
Net Assets — 100.0%			$	3,366,163,166

^(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.

2

Schedule of Investments (unaudited) (continued)	iShares® MSCI South Korea ETF
May 31, 2023

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

																			Capital
																			Gain
										Change in									Distributions
										Unrealized					Shares				from
	Value at		Purchases			Proceeds		Net Realized		Appreciation			Value at		Held at				Underlying
Affiliated Issuer	08/31/22		at Cost			from Sale		Gain (Loss)		(Depreciation)			05/31/23		05/31/23	Income			Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	132,934,661	$	37,187,567	(a)	$	—	$	42,311	$	(54,495	)	$	170,110,044	170,076,029	$	1,853,953	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		1,750,000		590,000	(a)		—		—		—			2,340,000	2,340,000		64,483			1
								$	42,311	$	(54,495	)	$	172,450,044		$	1,918,436		$	1

^(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

							Value/
					Notional		Unrealized
	Number of		Expiration		Amount		Appreciation
Description		Contracts		Date		(000)		(Depreciation)
Long Contracts
KOSPI 200 Index		289		06/08/23	$	18,424	$	1,113,015

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
Assets
Investments
Long-Term Investments
Common Stocks	$	—	$	3,289,446,758	$	—	$	3,289,446,758
Preferred Stocks		—		50,155,895		—		50,155,895
Short-Term Securities
Money Market Funds		172,450,044		—		—		172,450,044
	$	172,450,044	$	3,339,602,653	$	—	$	3,512,052,697

3

Schedule of Investments (unaudited) (continued)	iShares® MSCI South Korea ETF
May 31, 2023

Fair Value Hierarchy as of Period End (continued)

	Level 1		Level 2		Level 3		Total
Derivative Financial Instruments(a)
Assets
Equity Contracts	$	—	$	1,113,015	$	—	$	1,113,015

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

Portfolio Abbreviation

NVS Non-Voting Shares

4