| Consolidated Schedule of Investments (unaudited) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Brazil — 4.5% | ||||||||
| 3R Petroleum Oleo E Gas SA(a) | 76,049 | $ | 454,348 | |||||
| 3R Petroleum Oleo E Gas SA | 11,989 | 70,777 | ||||||
| AES Brasil Energia SA | 111,106 | 266,744 | ||||||
| Aliansce Sonae Shopping Centers SA | 183,553 | 784,025 | ||||||
| Alliar Medicos A Frente SA(a) | 16,936 | 76,747 | ||||||
| Alupar Investimento SA | 50,527 | 287,924 | ||||||
| Ambipar Participacoes e Empreendimentos SA | 27,448 | 112,750 | ||||||
| Arezzo Industria e Comercio SA | 25,988 | 377,887 | ||||||
| Armac Locacao Logistica E Servicos SA | 47,888 | 148,290 | ||||||
| Auren Energia SA | 106,519 | 295,624 | ||||||
| Boa Vista Servicos SA | 87,308 | 130,102 | ||||||
| BrasilAgro - Co. Brasileira de Propriedades Agricolas | 18,104 | 81,219 | ||||||
| BRF SA(a) | 226,227 | 362,530 | ||||||
| Cia. Brasileira de Aluminio | 58,984 | 60,457 | ||||||
| Cia. Brasileira de Distribuicao(a) | 60,663 | 194,665 | ||||||
| Cia. de Saneamento de Minas Gerais Copasa MG | 76,358 | 300,116 | ||||||
| Cia. de Saneamento do Parana | 64,678 | 258,161 | ||||||
| Cielo SA | 479,099 | 441,013 | ||||||
| CM Hospitalar SA | 47,377 | 160,155 | ||||||
| Cogna Educacao(a) | 670,724 | 382,077 | ||||||
| Cury Construtora e Incorporadora SA | 48,764 | 132,740 | ||||||
| Cyrela Brazil Realty SA Empreendimentos e Participacoes | 107,383 | 395,387 | ||||||
| Dexco SA | 144,139 | 251,440 | ||||||
| EcoRodovias Infraestrutura e Logistica SA | 100,886 | 127,268 | ||||||
| EDP - Energias do Brasil SA | 98,249 | 445,416 | ||||||
| Embraer SA(a) | 263,165 | 986,616 | ||||||
| Enauta Participacoes SA | 42,267 | 106,390 | ||||||
| Ez Tec Empreendimentos e Participacoes SA | 44,676 | 155,252 | ||||||
| Fleury SA | 91,908 | 282,429 | ||||||
| GPS Participacoes e Empreendimentos SA(b) | 120,742 | 354,137 | ||||||
| Grendene SA | 142,861 | 195,989 | ||||||
| Grupo De Moda Soma SA | 201,042 | 410,144 | ||||||
| Grupo Mateus SA(a) | 200,650 | 288,321 | ||||||
| Grupo SBF SA | 50,735 | 105,004 | ||||||
| Iguatemi SA | 91,177 | 391,069 | ||||||
| Intelbras SA Industria de Telecomunicacao Eletronica Brasileira | 29,492 | 146,434 | ||||||
| Iochpe Maxion SA | 51,223 | 130,246 | ||||||
| IRB Brasil Resseguros S/A(a) | 22,996 | 172,245 | ||||||
| JHSF Participacoes SA | 121,882 | 113,394 | ||||||
| Locaweb Servicos de Internet SA(b) | 143,153 | 216,142 | ||||||
| LOG Commercial Properties e Participacoes SA | 21,978 | 101,241 | ||||||
| M. Dias Branco SA | 25,258 | 192,125 | ||||||
| Mahle-Metal Leve SA | 18,469 | 150,059 | ||||||
| Marfrig Global Foods SA | 111,033 | 145,321 | ||||||
| Mills Estruturas e Servicos de Engenharia SA | 46,355 | 107,269 | ||||||
| Minerva SA | 101,762 | 204,996 | ||||||
| Movida Participacoes SA | 53,363 | 107,393 | ||||||
| MRV Engenharia e Participacoes SA | 110,230 | 219,013 | ||||||
| Multiplan Empreendimentos Imobiliarios SA | 106,814 | 558,566 | ||||||
| Odontoprev SA | 107,091 | 224,386 | ||||||
| Omega Energia SA(a) | 73,949 | 143,575 | ||||||
| Oncoclinicas do Brasil Servicos Medicos SA(a) | 53,728 | 115,964 | ||||||
| Orizon Valorizacao de Residuos SA(a) | 21,170 | 152,725 | ||||||
| Pet Center Comercio e Participacoes SA | 140,671 | 201,026 | ||||||
| Petroreconcavo SA | 49,421 | 167,844 | ||||||
| Santos Brasil Participacoes SA | 202,940 | 398,016 | ||||||
| Sao Martinho SA | 59,276 | 422,607 | ||||||
| Security | Shares | Value | ||||||
| Brazil (continued) | ||||||||
| SIMPAR SA | 148,993 | $ | 271,361 | |||||
| SLC Agricola SA | 39,858 | 271,284 | ||||||
| Smartfit Escola de Ginastica e Danca SA(a) | 88,731 | 333,181 | ||||||
| Transmissora Alianca de Energia Eletrica SA | 72,665 | 528,806 | ||||||
| Tres Tentos Agroindustrial SA | 44,968 | 105,478 | ||||||
| Tupy SA | 29,200 | 146,538 | ||||||
| Vamos Locacao de Caminhoes Maquinas e Equipamentos SA | 130,451 | 330,929 | ||||||
| Via S/A(a) | 483,876 | 226,997 | ||||||
| Vivara Participacoes SA | 43,800 | 219,980 | ||||||
| YDUQS Participacoes SA | 96,652 | 268,049 | ||||||
| 16,966,403 | ||||||||
| Chile — 0.7% | ||||||||
| Aguas Andinas SA, Class A | 1,211,262 | 394,779 | ||||||
| Banco Itau Chile SA, NVS | 21,641 | 225,228 | ||||||
| CAP SA | 33,361 | 234,761 | ||||||
| Colbun SA | 3,177,690 | 462,959 | ||||||
| Empresa Nacional de Telecomunicaciones SA | 63,760 | 239,295 | ||||||
| Engie Energia Chile SA(a) | 135,999 | 116,690 | ||||||
| Parque Arauco SA | 233,235 | 328,255 | ||||||
| Plaza SA | 166,659 | 210,894 | ||||||
| SMU SA | 1,286,844 | 217,650 | ||||||
| Sociedad de Inversiones Oro Blanco SA | 11,613,357 | 95,344 | ||||||
| Vina Concha y Toro SA | 228,860 | 259,938 | ||||||
| 2,785,793 | ||||||||
| China — 8.4% | ||||||||
| 361 Degrees International Ltd.(a)(c) | 365,000 | 165,141 | ||||||
| Agora Inc., ADR(a) | 25,623 | 70,207 | ||||||
| AK Medical Holdings Ltd.(b) | 292,000 | 260,489 | ||||||
| Alibaba Pictures Group Ltd.(a) | 4,380,000 | 224,026 | ||||||
| A-Living Smart City Services Co. Ltd., Class A(b) | 292,000 | 182,204 | ||||||
| Alliance International Education Leasing Holdings Ltd. (a)(b) | 292,200 | 208,596 | ||||||
| Alphamab Oncology(a)(b)(c) | 158,000 | 161,823 | ||||||
| Angelalign Technology Inc.(a)(b) | 14,600 | 135,364 | ||||||
| Anhui Expressway Co. Ltd., Class H | 146,000 | 149,161 | ||||||
| Anxin-China Holdings Ltd.(d) | 1,084,000 | 1 | ||||||
| Ascentage Pharma Group International(a)(b)(c) | 87,600 | 228,613 | ||||||
| Asia Cement China Holdings Corp. | 255,500 | 110,286 | ||||||
| Ausnutria Dairy Corp. Ltd. | 146,000 | 62,522 | ||||||
| Bairong Inc. (a)(b)(c) | 109,500 | 133,199 | ||||||
| Baozun Inc., ADR(a)(c) | 22,119 | 86,928 | ||||||
| Beijing Chunlizhengda Medical Instruments Co. Ltd., Class H | 54,750 | 105,016 | ||||||
| Beijing Jingneng Clean Energy Co. Ltd., Class H | 584,000 | 137,248 | ||||||
| Beijing Tong Ren Tang Chinese Medicine Co. Ltd. | 146,000 | 272,489 | ||||||
| Binjiang Service Group Co. Ltd. | 44,000 | 111,679 | ||||||
| BOE Varitronix Ltd. | 146,000 | 194,399 | ||||||
| Boshiwa International Holding Ltd.(d) | 32,000 | — | ||||||
| Brii Biosciences Ltd.(a)(c) | 162,500 | 77,552 | ||||||
| Canaan Inc., ADR(a)(c) | 72,076 | 147,035 | ||||||
| Canvest Environmental Protection Group Co. Ltd. | 259,000 | 126,020 | ||||||
| CARsgen Therapeutics Holdings Ltd., NVS(a)(b) | 109,500 | 145,623 | ||||||
| Central China New Life Ltd. | 256,000 | 85,789 | ||||||
| CGN Mining Co. Ltd.(a) | 1,095,000 | 114,643 | ||||||
| CGN New Energy Holdings Co. Ltd. | 520,000 | 154,205 | ||||||
| Chervon Holdings Ltd. | 43,800 | 192,017 | ||||||
| China Animal Healthcare Ltd.(d) | 126,000 | — | ||||||
| China Aoyuan Group Ltd.(a)(c)(d) | 603,000 | 37,804 | ||||||
| China BlueChemical Ltd., Class H | 558,000 | 122,597 | ||||||
1
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| China (continued) | ||||||||
| China Conch Environment Protection Holdings Ltd.(a)(c) | 657,000 | $ | 194,024 | |||||
| China Datang Corp. Renewable Power Co. Ltd., Class H | 949,000 | 342,108 | ||||||
| China East Education Holdings Ltd.(b) | 219,000 | 90,102 | ||||||
| China Education Group Holdings Ltd.(c) | 418,000 | 339,178 | ||||||
| China Everbright Greentech Ltd.(b)(c) | 584,000 | 94,745 | ||||||
| China Everbright Ltd. | 438,000 | 280,261 | ||||||
| China Foods Ltd. | 518,000 | 165,465 | ||||||
| China High Speed Transmission Equipment Group Co. Ltd.(a) | 232,000 | 77,606 | ||||||
| China Huiyuan Juice Group Ltd.(d) | 379,000 | — | ||||||
| China Lilang Ltd. | 319,000 | 167,027 | ||||||
| China Metal Recycling Holdings Ltd.(d) | 12,000 | — | ||||||
| China Modern Dairy Holdings Ltd.(c) | 1,241,000 | 145,812 | ||||||
| China New Higher Education Group Ltd.(b) | 365,000 | 111,816 | ||||||
| China Nonferrous Mining Corp Ltd. | 620,000 | 297,727 | ||||||
| China Oriental Group Co. Ltd. | 876,000 | 118,699 | ||||||
| China Overseas Grand Oceans Group Ltd. | 669,000 | 299,866 | ||||||
| China Renaissance Holdings Ltd.(b)(c)(d) | 172,500 | 131,060 | ||||||
| China Resources Medical Holdings Co. Ltd. | 365,000 | 287,439 | ||||||
| China Shineway Pharmaceutical Group Ltd. | 146,000 | 160,472 | ||||||
| China South City Holdings Ltd.(a)(c) | 2,482,000 | 142,789 | ||||||
| China Tobacco International HK Co. Ltd. | 146,000 | 172,274 | ||||||
| China Travel International Investment Hong Kong Ltd.(a)(c) | 876,000 | 167,795 | ||||||
| China Water Affairs Group Ltd.(c) | 292,000 | 215,437 | ||||||
| China XLX Fertiliser Ltd. | 314,000 | 168,706 | ||||||
| China Youran Dairy Group Ltd.(b)(c) | 511,000 | 114,193 | ||||||
| China Youzan Ltd.(a)(c) | 5,712,000 | 97,114 | ||||||
| Chindata Group Holdings Ltd., ADR(a)(c) | 51,173 | 291,686 | ||||||
| CIFI Ever Sunshine Services Group Ltd.(d) | 64,000 | 18,268 | ||||||
| CIFI Holdings Group Co. Ltd.(c)(d) | 854,000 | 60,741 | ||||||
| CIMC Enric Holdings Ltd. | 292,000 | 240,709 | ||||||
| Cloud Music Inc.(a)(b) | 21,900 | 232,831 | ||||||
| CMGE Technology Group Ltd.(a)(c) | 584,000 | 148,455 | ||||||
| COFCO Joycome Foods Ltd.(c) | 1,022,000 | 239,015 | ||||||
| Concord New Energy Group Ltd. | 2,920,000 | 257,163 | ||||||
| Cosmopolitan International Holdings Ltd.(a) | 584,000 | 96,209 | ||||||
| CStone Pharmaceuticals(a)(b) | 297,500 | 107,917 | ||||||
| Dada Nexus Ltd., ADR(a)(c) | 27,156 | 126,547 | ||||||
| Digital China Holdings Ltd. | 502,000 | 204,549 | ||||||
| DingDong Cayman Ltd.(a)(c) | 37,157 | 86,576 | ||||||
| Everest Medicines Ltd.(a)(b)(c) | 73,000 | 101,395 | ||||||
| Excellence Commercial Property & Facilities Management Group Ltd.(c) | 304,000 | 91,728 | ||||||
| FIH Mobile Ltd. (a) | 1,460,000 | 141,588 | ||||||
| FinVolution Group, ADR | 50,078 | 193,301 | ||||||
| Fu Shou Yuan International Group Ltd. | 585,000 | 426,723 | ||||||
| Fufeng Group Ltd.(c) | 584,400 | 318,936 | ||||||
| Gemdale Properties & Investment Corp. Ltd. | 3,184,000 | 166,897 | ||||||
| Genertec Universal Medical Group Co. Ltd.(b) | 511,000 | 303,960 | ||||||
| Global New Material International Holdings Ltd. | 292,000 | 160,983 | ||||||
| Golden Solar New Energy Technology Holdings Ltd. (a)(c) | 292,800 | 227,068 | ||||||
| GOME Retail Holdings Ltd.(a)(c)(d) | 5,175,000 | 56,790 | ||||||
| Grand Pharmaceutical Group Ltd., Class A | 511,000 | 331,553 | ||||||
| Greentown Management Holdings Co. Ltd.(b) | 292,000 | 241,318 | ||||||
| Guangzhou R&F Properties Co. Ltd., Class H(a)(c) | 613,200 | 91,743 | ||||||
| Guizhou Zhongyida Co. Ltd.(a) | 226,400 | 97,980 | ||||||
| Gushengtang Holdings Ltd.(a) | 58,400 | 349,037 | ||||||
| Haichang Ocean Park Holdings Ltd.(a)(b)(c) | 1,168,000 | 235,770 | ||||||
| Hainan Meilan International Airport Co. Ltd., Class H(a) | 109,000 | 184,194 | ||||||
| Security | Shares | Value | ||||||
| China (continued) | ||||||||
| Hangzhou Steam Turbine Power Group Co. Ltd., Class B | 151,464 | $ | 180,948 | |||||
| Harbin Electric Co. Ltd., Class H(a) | 348,000 | 131,519 | ||||||
| Helens International Holdings Co. Ltd. (a)(c) | 177,500 | 197,083 | ||||||
| Hello Group Inc., ADR | 65,554 | 529,021 | ||||||
| Hope Education Group Co. Ltd.(a)(b) | 1,884,000 | 134,878 | ||||||
| Hopson Development Holdings Ltd. | 313,900 | 265,622 | ||||||
| Hua Han Health Industry Holdings Ltd.(d) | 1,112,400 | 1 | ||||||
| Hua Medicine(a)(b) | 365,000 | 86,513 | ||||||
| Huabao International Holdings Ltd.(c) | 365,000 | 143,993 | ||||||
| HUTCHMED China Ltd.(a) | 182,500 | 442,354 | ||||||
| HUYA Inc., ADR(a)(c) | 32,704 | 95,169 | ||||||
| iDreamSky Technology Holdings Ltd.(a)(b)(c) | 408,800 | 156,764 | ||||||
| I-Mab, ADR(a) | 31,420 | 97,402 | ||||||
| Inspur Digital Enterprise Technology Ltd.(a) | 292,000 | 111,914 | ||||||
| Jinchuan Group International Resources Co. Ltd. | 1,825,000 | 96,714 | ||||||
| JinkoSolar Holding Co. Ltd., ADR(a)(c) | 16,790 | 703,669 | ||||||
| Jinxin Fertility Group Ltd.(b) | 730,000 | 377,063 | ||||||
| Joy Spreader Group Inc.(a)(c) | 730,000 | 81,169 | ||||||
| Kangji Medical Holdings Ltd. | 182,500 | 198,024 | ||||||
| Keymed Biosciences Inc.(a)(b) | 73,000 | 380,330 | ||||||
| Kingsoft Cloud Holdings Ltd., ADR(a) | 40,953 | 182,650 | ||||||
| Kintor Pharmaceutical Ltd. (a)(b)(c) | 146,000 | 71,725 | ||||||
| KWG Group Holdings Ltd.(a)(c) | 547,500 | 43,389 | ||||||
| Lee & Man Paper Manufacturing Ltd. | 511,000 | 173,075 | ||||||
| Lepu Biopharma Co. Ltd. | 125,000 | 95,461 | ||||||
| LexinFintech Holdings Ltd., ADR(a) | 48,910 | 98,309 | ||||||
| Lifetech Scientific Corp. (a) | 1,606,000 | 477,652 | ||||||
| LK Technology Holdings Ltd. | 182,500 | 162,149 | ||||||
| Lonking Holdings Ltd. | 1,022,000 | 150,207 | ||||||
| Luoyang Glass Co. Ltd., Class H (a)(c) | 146,000 | 112,590 | ||||||
| Luye Pharma Group Ltd. (a)(b) | 803,000 | 358,106 | ||||||
| Meitu Inc.(a)(b)(c) | 898,500 | 206,641 | ||||||
| MH Development Ltd.(d) | 32,500 | 680 | ||||||
| Midea Real Estate Holding Ltd.(b)(c) | 153,600 | 134,059 | ||||||
| Ming Yuan Cloud Group Holdings Ltd. | 292,000 | 125,198 | ||||||
| MMG Ltd.(a) | 1,168,000 | 350,843 | ||||||
| Mobvista Inc.(a)(b) | 292,000 | 138,066 | ||||||
| National Agricultural Holdings Ltd., NVS(d) | 354,000 | 452 | ||||||
| Nayuki Holdings Ltd.(a)(c) | 182,500 | 136,913 | ||||||
| NetDragon Websoft Holdings Ltd. | 124,500 | 224,766 | ||||||
| New Horizon Health Ltd.(a)(b) | 102,500 | 368,218 | ||||||
| Nexteer Automotive Group Ltd.(c) | 365,000 | 163,164 | ||||||
| Noah Holdings Ltd., ADR(a)(c) | 14,527 | 225,459 | ||||||
| Ocumension Therapeutics(a)(b) | 143,000 | 127,029 | ||||||
| Peijia Medical Ltd.(a)(b) | 213,000 | 185,657 | ||||||
| Pou Sheng International Holdings Ltd. | 660,000 | 58,280 | ||||||
| Powerlong Real Estate Holdings Ltd.(c) | 438,000 | 49,884 | ||||||
| Productive Technologies Co. Ltd.(a) | 1,168,000 | 113,363 | ||||||
| Radiance Holdings Group Co. Ltd.(a)(c) | 367,000 | 167,320 | ||||||
| Redco Properties Group Ltd.(a)(b)(c)(d) | 570,000 | 72,640 | ||||||
| RLX Technology Inc., ADR(a)(c) | 207,831 | 355,391 | ||||||
| Seazen Group Ltd.(a) | 876,000 | 154,545 | ||||||
| Shanghai Industrial Holdings Ltd. | 219,000 | 307,074 | ||||||
| Shenzhen Investment Ltd. | 1,022,000 | 180,041 | ||||||
| Shoucheng Holdings Ltd. | 1,169,200 | 312,250 | ||||||
| Shougang Fushan Resources Group Ltd. | 730,000 | 223,816 | ||||||
| Shui On Land Ltd. | 1,720,000 | 206,500 | ||||||
| Sihuan Pharmaceutical Holdings Group Ltd. | 1,912,000 | 180,627 | ||||||
| Sino-Ocean Group Holding Ltd.(a)(c) | 1,387,000 | 84,208 | ||||||
2
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| China (continued) | ||||||||
| Sinopec Engineering Group Co. Ltd., Class H | 606,500 | $ | 257,006 | |||||
| Sinopec Kantons Holdings Ltd. | 438,000 | 158,887 | ||||||
| Skyworth Group Ltd.(c) | 438,000 | 218,924 | ||||||
| SOHO China Ltd.(a) | 1,131,500 | 167,793 | ||||||
| SSY Group Ltd. | 584,000 | 359,569 | ||||||
| Sun King Technology Group Ltd.(a) | 458,000 | 91,902 | ||||||
| Sunac Services Holdings Ltd.(b) | 365,000 | 99,873 | ||||||
| Superb Summit International Group Ltd.(d) | 11,913 | — | ||||||
| SY Holdings Group Ltd.(c) | 247,500 | 182,078 | ||||||
| TCL Electronics Holdings Ltd. | 365,000 | 149,686 | ||||||
| Tiangong International Co. Ltd. | 730,000 | 197,303 | ||||||
| Tianjin Port Development Holdings Ltd. | 878,000 | 63,907 | ||||||
| Tianli International Holdings Ltd. | 438,000 | 124,177 | ||||||
| Tianneng Power International Ltd.(c) | 292,000 | 335,700 | ||||||
| Tong Ren Tang Technologies Co. Ltd., Class H | 259,000 | 229,219 | ||||||
| Tongdao Liepin Group(a) | 116,800 | 127,995 | ||||||
| Towngas Smart Energy Co. Ltd.(c) | 438,000 | 194,678 | ||||||
| Truly International Holdings Ltd. | 876,000 | 91,681 | ||||||
| Tuya Inc.(a)(c) | 88,111 | 174,460 | ||||||
| Untrade SMI Holdings(d) | 468,800 | 1 | ||||||
| Untradelumena Newmat, NVS(d) | 5,249 | — | ||||||
| Up Fintech Holding Ltd., ADR(a)(c) | 50,643 | 153,448 | ||||||
| Venus MedTech Hangzhou Inc., Class H(a)(b)(c) | 123,000 | 114,882 | ||||||
| Vnet Group Inc., ADR(a)(c) | 37,240 | 95,707 | ||||||
| Weimob Inc.(a)(b)(c) | 861,000 | 399,760 | ||||||
| West China Cement Ltd. | 1,460,000 | 154,829 | ||||||
| Wuling Motors Holdings Ltd.(c) | 730,000 | 62,443 | ||||||
| XD Inc.(a)(c) | 116,800 | 305,421 | ||||||
| Xiabuxiabu Catering Management China Holdings Co. Ltd.(b) | 255,500 | 143,058 | ||||||
| Yeahka Ltd.(a) | 87,600 | 224,121 | ||||||
| Yidu Tech Inc. (a)(b) | 207,200 | 130,994 | ||||||
| Youdao Inc., ADR(a)(c) | 12,629 | 56,199 | ||||||
| Yuexiu REIT(c) | 1,095,000 | 264,510 | ||||||
| Yuexiu Transport Infrastructure Ltd. | 542,000 | 257,353 | ||||||
| Zhou Hei Ya International Holdings Co. Ltd.(b)(c) | 401,500 | 156,093 | ||||||
| Zhuguang Holdings Group Co. Ltd.(a)(c) | 1,022,000 | 86,157 | ||||||
| 31,434,382 | ||||||||
| Colombia — 0.1% | ||||||||
| Cementos Argos SA | 150,599 | 107,619 | ||||||
| Grupo Argos SA(d) | 122,275 | 256,915 | ||||||
| 364,534 | ||||||||
| Czech Republic — 0.1% | ||||||||
| Colt CZ Group SE | 3,181 | 85,277 | ||||||
| Philip Morris CR AS | 167 | 127,010 | ||||||
| 212,287 | ||||||||
| Egypt — 0.2% | ||||||||
| Abou Kir Fertilizers & Chemical Industries | 49,650 | 76,115 | ||||||
| Cairo Investment & Real Estate Development Co. SAE | 134,772 | 49,272 | ||||||
| Cleopatra Hospital(a) | 470,267 | 69,703 | ||||||
| E-Finance for Digital & Financial Investments, NVS | 136,613 | 78,298 | ||||||
| EISewedy Electric Co. | 267,345 | 166,555 | ||||||
| Ezz Steel Co. SAE | 35,175 | 44,612 | ||||||
| Fawry for Banking & Payment Technology Services SAE(a) | 339,221 | 62,530 | ||||||
| Misr Fertilizers Production Co. SAE | 17,546 | 91,989 | ||||||
| Talaat Moustafa Group | 499,040 | 152,592 | ||||||
| Telecom Egypt Co. | 212,632 | 166,504 | ||||||
| 958,170 | ||||||||
| Security | Shares | Value | ||||||
| Greece — 0.6% | ||||||||
| Aegean Airlines SA(a) | 24,236 | $ | 258,956 | |||||
| Athens Water Supply & Sewage Co. SA | 16,959 | 118,372 | ||||||
| GEK Terna Holding Real Estate Construction SA | 22,849 | 331,505 | ||||||
| Hellenic Energy Holdings SA | 14,673 | 125,278 | ||||||
| Holding Co. ADMIE IPTO SA | 31,841 | 65,357 | ||||||
| LAMDA Development SA(a) | 33,211 | 226,902 | ||||||
| Piraeus Financial Holdings SA(a) | 271,779 | 803,633 | ||||||
| Sarantis SA | 12,374 | 98,141 | ||||||
| Titan Cement International SA(c) | 17,897 | 317,866 | ||||||
| 2,346,010 | ||||||||
| Hong Kong — 0.0% | ||||||||
| China Zhongwang Holdings Ltd. | 696,800 | 1 | ||||||
| Hungary — 0.0% | ||||||||
| Magyar Telekom Telecommunications PLC | 124,392 | 149,999 | ||||||
| India — 23.3% | ||||||||
| 360 ONE WAM Ltd. | 61,904 | 312,772 | ||||||
| 3M India Ltd. | 1,241 | 377,136 | ||||||
| Aarti Drugs Ltd. | 14,381 | 75,981 | ||||||
| Aarti Industries Ltd. | 71,905 | 444,697 | ||||||
| Aarti Pharmalabs Ltd., NVS(a) | 18,616 | 83,042 | ||||||
| Aavas Financiers Ltd.(a) | 18,402 | 310,694 | ||||||
| Aditya Birla Capital Ltd.(a) | 190,530 | 391,599 | ||||||
| Aditya Birla Fashion and Retail Ltd.(a) | 123,151 | 299,549 | ||||||
| Advanced Enzyme Technologies Ltd. | 23,506 | 78,252 | ||||||
| Aegis Logistics Ltd. | 57,524 | 248,957 | ||||||
| Affle India Ltd.(a) | 24,090 | 278,797 | ||||||
| AIA Engineering Ltd. | 16,571 | 613,697 | ||||||
| Ajanta Pharma Ltd. | 17,301 | 273,344 | ||||||
| Alembic Pharmaceuticals Ltd. | 17,374 | 114,703 | ||||||
| Alkyl Amines Chemicals | 5,256 | 157,293 | ||||||
| Allcargo Logistics Ltd. | 36,208 | 116,400 | ||||||
| Allcargo Terminals Ltd. | 44,331 | 21,857 | ||||||
| Alok Industries Ltd.(a) | 629,771 | 102,238 | ||||||
| Amara Raja Batteries Ltd. | 34,894 | 253,241 | ||||||
| Amber Enterprises India Ltd.(a) | 7,373 | 188,447 | ||||||
| Angel One Ltd. | 12,483 | 202,661 | ||||||
| Apar Industries Ltd. | 6,059 | 203,245 | ||||||
| APL Apollo Tubes Ltd. | 62,640 | 859,388 | ||||||
| Apollo Tyres Ltd. | 132,787 | 626,629 | ||||||
| Aptus Value Housing Finance India Ltd. | 33,808 | 107,065 | ||||||
| Asahi India Glass Ltd. | 31,463 | 171,570 | ||||||
| Ashok Leyland Ltd. | 576,116 | 1,017,338 | ||||||
| Aster DM Healthcare Ltd.(a)(b) | 62,634 | 204,063 | ||||||
| Astral Ltd. | 46,501 | 1,022,285 | ||||||
| AstraZeneca Pharma India Ltd. | 2,701 | 116,377 | ||||||
| Atul Ltd. | 5,913 | 480,924 | ||||||
| Avanti Feeds Ltd. | 18,749 | 88,484 | ||||||
| Bajaj Electricals Ltd. | 18,615 | 256,911 | ||||||
| Balaji Amines Ltd. | 4,088 | 103,841 | ||||||
| Balrampur Chini Mills Ltd. | 53,229 | 252,226 | ||||||
| BASF India Ltd. | 4,855 | 148,384 | ||||||
| Bata India Ltd. | 19,119 | 365,698 | ||||||
| Bayer CropScience Ltd. | 5,767 | 294,709 | ||||||
| BEML Ltd., (Acquired 02/10/22, Cost: $200,469)(e) | 8,833 | 153,244 | ||||||
| BEML Ltd., NVS(a) | 16,060 | 29,924 | ||||||
| Bharat Dynamics Ltd. | 17,978 | 239,145 | ||||||
| Bharat Heavy Electricals Ltd. | 383,031 | 378,631 | ||||||
| Biocon Ltd. | 155,928 | 461,897 | ||||||
| Birla Corp. Ltd. | 11,023 | 149,338 | ||||||
3
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| India (continued) | ||||||||
| Birlasoft Ltd. | 68,255 | $ | 282,708 | |||||
| BLS International Services Ltd. | 56,940 | 125,768 | ||||||
| Blue Dart Express Ltd. | 2,263 | 170,244 | ||||||
| Blue Star Ltd. | 24,382 | 424,397 | ||||||
| Borosil Renewables Ltd.(a) | 20,075 | 132,209 | ||||||
| Brigade Enterprises Ltd. | 46,428 | 315,386 | ||||||
| Brightcom Group Ltd. | 381,790 | 86,025 | ||||||
| Brookfield India Real Estate Trust(b) | 54,354 | 180,552 | ||||||
| BSE Ltd. | 25,192 | 169,567 | ||||||
| Campus Activewear Ltd.(a) | 22,995 | 84,423 | ||||||
| Can Fin Homes Ltd. | 31,536 | 269,319 | ||||||
| Carborundum Universal Ltd. | 43,508 | 604,086 | ||||||
| Castrol India Ltd. | 175,800 | 238,471 | ||||||
| CCL Products India Ltd. | 37,829 | 289,967 | ||||||
| CE Info Systems Ltd.(a) | 8,182 | 106,995 | ||||||
| Ceat Ltd. | 8,979 | 209,085 | ||||||
| Central Depository Services India Ltd. | 19,783 | 247,977 | ||||||
| Century Plyboards India Ltd. | 19,345 | 130,083 | ||||||
| Century Textiles & Industries Ltd. | 24,820 | 239,222 | ||||||
| Cera Sanitaryware Ltd. | 1,533 | 139,367 | ||||||
| CESC Ltd. | 237,980 | 198,893 | ||||||
| Chalet Hotel Ltd.(a) | 24,236 | 126,814 | ||||||
| Chambal Fertilisers and Chemicals Ltd. | 72,124 | 243,933 | ||||||
| Chemplast Sanmar Ltd.(a) | 26,923 | 147,679 | ||||||
| Cholamandalam Financial Holdings Ltd. | 41,245 | 398,421 | ||||||
| City Union Bank Ltd. | 134,174 | 202,674 | ||||||
| Clean Science and Technology | 9,344 | 159,972 | ||||||
| Coforge Ltd. | 14,009 | 769,594 | ||||||
| Computer Age Management Services Ltd. | 11,169 | 298,868 | ||||||
| Coromandel International Ltd. | 44,019 | 510,367 | ||||||
| CreditAccess Grameen Ltd.(a) | 20,888 | 311,330 | ||||||
| CRISIL Ltd. | 6,758 | 310,071 | ||||||
| Crompton Greaves Consumer Electricals Ltd. | 225,644 | 748,752 | ||||||
| Cummins India Ltd. | 50,662 | 1,076,206 | ||||||
| Cyient Ltd. | 34,164 | 535,527 | ||||||
| Dalmia Bharat Ltd. | 29,127 | 749,475 | ||||||
| Data Patterns India Ltd.(a) | 8,468 | 172,649 | ||||||
| Deepak Fertilisers & Petrochemicals Corp. Ltd. | 27,375 | 176,428 | ||||||
| Deepak Nitrite Ltd. | 25,039 | 626,937 | ||||||
| Delhivery Ltd.(a) | 63,291 | 266,932 | ||||||
| Delta Corp. Ltd. | 46,193 | 135,238 | ||||||
| Devyani International Ltd.(a) | 98,185 | 218,732 | ||||||
| Dixon Technologies India Ltd. | 12,045 | 564,043 | ||||||
| Dr Lal PathLabs Ltd.(b) | 14,899 | 365,471 | ||||||
| Easy Trip Planners Ltd., NVS(a) | 203,816 | 113,097 | ||||||
| eClerx Services Ltd. | 9,867 | 194,161 | ||||||
| EID Parry India Ltd. | 39,990 | 227,436 | ||||||
| Elecon Engineering Co. Ltd. | 16,571 | 105,713 | ||||||
| Elgi Equipments Ltd. | 69,404 | 447,697 | ||||||
| Emami Ltd. | 66,746 | 315,761 | ||||||
| Embassy Office Parks REIT | 179,434 | 667,988 | ||||||
| Endurance Technologies Ltd.(b) | 12,775 | 221,318 | ||||||
| Engineers India Ltd. | 147,460 | 197,409 | ||||||
| EPL Ltd. | 60,298 | 131,944 | ||||||
| Equitas Small Finance Bank Ltd.(a)(b) | 154,760 | 161,622 | ||||||
| Eris Lifesciences Ltd.(b) | 17,885 | 138,634 | ||||||
| Escorts Kubota Ltd. | 11,461 | 301,000 | ||||||
| Exide Industries Ltd.(a) | 182,062 | 464,270 | ||||||
| Federal Bank Ltd. | 625,026 | 944,748 | ||||||
| Fine Organic Industries Ltd. | 3,212 | 174,410 | ||||||
| Security | Shares | Value | ||||||
| India (continued) | ||||||||
| Finolex Cables Ltd. | 30,806 | $ | 297,706 | |||||
| Finolex Industries Ltd. | 106,726 | 229,225 | ||||||
| Firstsource Solutions Ltd. | 116,980 | 189,996 | ||||||
| Fortis Healthcare Ltd.(a) | 187,318 | 620,324 | ||||||
| GHCL Ltd. | 23,447 | 137,117 | ||||||
| GHCL Textiles Ltd. | 24,089 | 12,809 | ||||||
| GlaxoSmithKline Pharmaceuticals Ltd. | 11,315 | 178,566 | ||||||
| Glenmark Pharmaceuticals Ltd. | 54,896 | 396,773 | ||||||
| Global Health Ltd., NVS(a) | 28,543 | 204,123 | ||||||
| GMM Pfaudler Ltd. | 13,140 | 233,111 | ||||||
| GMR Airports Infrastructure Ltd.(a) | 937,193 | 458,347 | ||||||
| Go Fashion India Ltd.(a) | 7,054 | 91,872 | ||||||
| Godawari Power and Ispat Ltd. | 23,287 | 101,123 | ||||||
| Godfrey Phillips India Ltd. | 5,475 | 115,203 | ||||||
| Godrej Industries Ltd.(a) | 17,994 | 104,306 | ||||||
| Granules India Ltd. | 57,159 | 194,842 | ||||||
| Graphite India Ltd. | 33,215 | 130,340 | ||||||
| Great Eastern Shipping Co. Ltd. (The) | 44,311 | 367,710 | ||||||
| Greaves Cotton Ltd. | 66,178 | 104,134 | ||||||
| Greenpanel Industries Ltd. | 20,294 | 79,661 | ||||||
| Grindwell Norton Ltd. | 17,009 | 428,504 | ||||||
| Gujarat Ambuja Exports Ltd. | 31,171 | 91,141 | ||||||
| Gujarat Fluorochemicals Ltd. | 9,885 | 406,957 | ||||||
| Gujarat Gas Ltd. | 66,284 | 405,259 | ||||||
| Gujarat Mineral Development Corp. Ltd. | 52,314 | 105,879 | ||||||
| Gujarat Narmada Valley Fertilizers & Chemicals Ltd. | 30,733 | 218,260 | ||||||
| Gujarat State Fertilizers & Chemicals Ltd. | 61,247 | 116,487 | ||||||
| Gujarat State Petronet Ltd. | 123,838 | 449,290 | ||||||
| Happiest Minds Technologies Ltd. | 27,158 | 301,503 | ||||||
| HFCL Ltd. | 293,752 | 229,310 | ||||||
| HG Infra Engineering Ltd. | 11,607 | 127,018 | ||||||
| Hindustan Foods Ltd.(a) | 15,622 | 106,987 | ||||||
| Hitachi Energy India Ltd. | 3,985 | 185,152 | ||||||
| ICICI Securities Ltd.(b) | 41,300 | 247,396 | ||||||
| IDFC First Bank Ltd.(a) | 1,227,933 | 1,061,065 | ||||||
| IDFC Ltd. | 484,939 | 580,360 | ||||||
| IIFL Finance Ltd. | 67,014 | 360,470 | ||||||
| India Cements Ltd. (The) | 62,853 | 153,487 | ||||||
| Indiabulls Housing Finance Ltd.(a) | 122,704 | 170,486 | ||||||
| Indiabulls Real Estate Ltd.(a) | 202,648 | 164,442 | ||||||
| IndiaMART Intermesh Ltd.(b) | 6,205 | 418,093 | ||||||
| Indian Bank | 106,580 | 347,097 | ||||||
| Indian Energy Exchange Ltd.(b) | 168,630 | 311,438 | ||||||
| Indigo Paints Ltd. | 4,891 | 86,038 | ||||||
| Intellect Design Arena Ltd. | 36,500 | 258,058 | ||||||
| ION Exchange India Ltd. | 3,285 | 151,397 | ||||||
| Ipca Laboratories Ltd. | 51,392 | 435,018 | ||||||
| IRB Infrastructure Developers Ltd., NVS | 528,590 | 182,334 | ||||||
| Jaiprakash Power Ventures Ltd.(a) | 1,500,368 | 108,637 | ||||||
| JB Chemicals & Pharmaceuticals Ltd. | 14,282 | 362,994 | ||||||
| JBM Auto Ltd. | 11,169 | 108,926 | ||||||
| Jindal Stainless Ltd. | 140,939 | 499,687 | ||||||
| JK Cement Ltd. | 14,381 | 557,373 | ||||||
| JK Lakshmi Cement Ltd. | 27,448 | 219,664 | ||||||
| JK Paper Ltd. | 42,095 | 167,082 | ||||||
| JM Financial Ltd. | 245,864 | 208,322 | ||||||
| Jubilant Ingrevia Ltd. | 29,576 | 140,122 | ||||||
| Jubilant Pharmova Ltd. | 33,507 | 133,528 | ||||||
| Just Dial Ltd.(a) | 12,037 | 101,443 | ||||||
| Jyothy Labs Ltd. | 47,523 | 120,129 | ||||||
4
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| India (continued) | ||||||||
| Kajaria Ceramics Ltd. | 31,682 | $ | 489,007 | |||||
| Kansai Nerolac Paints Ltd. | 54,706 | 291,245 | ||||||
| Karnataka Bank Ltd. (The) | 69,131 | 126,343 | ||||||
| Karur Vysya Bank Ltd. (The) | 163,666 | 209,403 | ||||||
| Kaveri Seed Co. Ltd. | 16,936 | 102,823 | ||||||
| KEC International Ltd. | 52,980 | 334,174 | ||||||
| KEI Industries Ltd. | 24,747 | 596,584 | ||||||
| Kirloskar Ferrous Industries Ltd. | 29,857 | 158,156 | ||||||
| Kirloskar Oil Engines Ltd. | 37,270 | 182,222 | ||||||
| KNR Constructions Ltd. | 86,724 | 258,694 | ||||||
| KPIT Technologies Ltd. | 63,437 | 813,671 | ||||||
| KPR Mill Ltd. | 35,601 | 246,766 | ||||||
| KRBL Ltd. | 21,827 | 96,102 | ||||||
| Krishna Institute Of Medical Sciences Ltd.(a)(b) | 17,532 | 344,090 | ||||||
| L&T Finance Holdings Ltd. | 304,289 | 382,505 | ||||||
| Lakshmi Machine Works Ltd. | 1,961 | 271,412 | ||||||
| Laurus Labs Ltd.(b) | 132,591 | 529,734 | ||||||
| Laxmi Organic Industries Ltd. | 25,769 | 79,727 | ||||||
| Lemon Tree Hotels Ltd.(a)(b) | 215,250 | 249,309 | ||||||
| LIC Housing Finance Ltd. | 113,036 | 507,677 | ||||||
| Linde India Ltd. | 8,537 | 407,756 | ||||||
| LT Foods Ltd. | 69,934 | 96,754 | ||||||
| Mahanagar Gas Ltd. | 26,369 | 336,781 | ||||||
| Mahindra & Mahindra Financial Services Ltd. | 203,962 | 699,796 | ||||||
| Mahindra CIE Automotive Ltd. | 42,048 | 230,577 | ||||||
| Mahindra Lifespace Developers Ltd. | 36,415 | 197,906 | ||||||
| Manappuram Finance Ltd. | 216,294 | 287,844 | ||||||
| Mastek Ltd. | 6,716 | 166,668 | ||||||
| Max Financial Services Ltd.(a) | 86,067 | 734,251 | ||||||
| Medplus Health Services Ltd.(a) | 19,512 | 191,279 | ||||||
| Metropolis Healthcare Ltd.(b) | 11,023 | 173,408 | ||||||
| Mindspace Business Parks REIT(b) | 82,417 | 304,177 | ||||||
| Motherson Sumi Wiring India Ltd. | 751,024 | 524,401 | ||||||
| Motilal Oswal Financial Services Ltd. | 16,936 | 130,336 | ||||||
| MTAR Technologies Ltd.(a) | 6,935 | 158,924 | ||||||
| Multi Commodity Exchange of India Ltd. | 9,552 | 167,786 | ||||||
| Narayana Hrudayalaya Ltd. | 33,288 | 358,961 | ||||||
| Natco Pharma Ltd. | 29,981 | 224,237 | ||||||
| National Aluminium Co. Ltd. | 329,814 | 333,531 | ||||||
| Navin Fluorine International Ltd. | 12,848 | 723,943 | ||||||
| Nazara Technologies Ltd.(a) | 12,702 | 98,300 | ||||||
| NCC Ltd./India | 203,889 | 293,482 | ||||||
| Network18 Media & Investments Ltd.(a) | 65,262 | 48,280 | ||||||
| NIIT Ltd.(a) | 35,916 | 173,523 | ||||||
| Nippon Life India Asset Management Ltd.(b) | 48,545 | 146,442 | ||||||
| Nuvoco Vistas Corp. Ltd.(a) | 46,501 | 189,927 | ||||||
| Oberoi Realty Ltd. | 52,518 | 590,055 | ||||||
| Oil India Ltd. | 98,769 | 306,867 | ||||||
| Olectra Greentech Ltd. | 18,031 | 159,942 | ||||||
| Oracle Financial Services Software Ltd. | 8,468 | 371,517 | ||||||
| Orient Electric Ltd. | 56,648 | 163,378 | ||||||
| Paisalo Digital Ltd. | 123,370 | 81,047 | ||||||
| PB Fintech Ltd.(a) | 74,606 | 545,506 | ||||||
| Persistent Systems Ltd. | 18,615 | 1,153,100 | ||||||
| Phoenix Mills Ltd. (The) | 43,143 | 764,504 | ||||||
| Piramal Enterprises Ltd. | 44,916 | 418,288 | ||||||
| Piramal Pharma Ltd., NVS(a) | 197,843 | 194,387 | ||||||
| PNB Housing Finance Ltd.(a)(b) | 34,383 | 209,726 | ||||||
| PNC Infratech Ltd. | 47,961 | 181,935 | ||||||
| Poly Medicure Ltd. | 20,586 | 242,413 | ||||||
| Security | Shares | Value | ||||||
| India (continued) | ||||||||
| Polycab India Ltd. | 221 | $ | 9,135 | |||||
| Polyplex Corporation Ltd. | 7,615 | 124,742 | ||||||
| Poonawalla Fincorp Ltd. | 99,791 | 416,211 | ||||||
| Praj Industries Ltd. | 47,231 | 224,446 | ||||||
| Prestige Estates Projects Ltd. | 64,817 | 378,167 | ||||||
| Procter & Gamble Health Ltd. | 3,358 | 212,461 | ||||||
| PVR Inox Ltd.(a) | 28,616 | 489,028 | ||||||
| Quess Corp. Ltd.(b) | 29,492 | 144,516 | ||||||
| Radico Khaitan Ltd. | 31,828 | 449,398 | ||||||
| Rail Vikas Nigam Ltd. | 98,819 | 143,334 | ||||||
| Rain Industries Ltd. | 86,279 | 158,877 | ||||||
| Rainbow Children’s Medicare Ltd. | 22,192 | 264,348 | ||||||
| Rajesh Exports Ltd. | 24,601 | 165,097 | ||||||
| Rajratan Global Wire Ltd. | 8,833 | 81,680 | ||||||
| Ramco Cements Ltd. (The) | 43,116 | 470,447 | ||||||
| Ratnamani Metals & Tubes Ltd. | 11,932 | 333,371 | ||||||
| RattanIndia Enterprises Ltd.(a) | 186,223 | 85,017 | ||||||
| Raymond Ltd. | 14,527 | 274,406 | ||||||
| RBL Bank Ltd.(a)(b) | 187,604 | 366,956 | ||||||
| REC Ltd. | 461,978 | 789,610 | ||||||
| Redington Ltd. | 230,912 | 485,658 | ||||||
| Relaxo Footwears Ltd. | 20,951 | 228,153 | ||||||
| Reliance Infrastructure Ltd.(a) | 89,000 | 144,548 | ||||||
| Reliance Power Ltd.(a) | 1,005,283 | 156,987 | ||||||
| Rhi Magnesita India Ltd. | 23,939 | 189,505 | ||||||
| Route Mobile Ltd. | 13,943 | 241,652 | ||||||
| Safari Industries India Ltd. | 4,891 | 160,409 | ||||||
| Sanofi India Ltd. | 3,066 | 251,648 | ||||||
| Saregama India Ltd. | 40,436 | 158,424 | ||||||
| Sharda Cropchem Ltd. | 7,884 | 45,810 | ||||||
| Sheela Foam Ltd.(a) | 10,950 | 133,470 | ||||||
| Shoppers Stop Ltd.(a) | 19,977 | 183,515 | ||||||
| Shree Renuka Sugars Ltd.(a) | 287,620 | 145,584 | ||||||
| SKF India Ltd. | 10,074 | 537,347 | ||||||
| Sobha Ltd. | 16,644 | 104,636 | ||||||
| Solar Industries India Ltd. | 11,315 | 512,611 | ||||||
| Sonata Software Ltd. | 32,799 | 384,767 | ||||||
| South Indian Bank Ltd. (The)(a) | 430,602 | 89,590 | ||||||
| Sterlite Technologies Ltd. | 78,840 | 141,678 | ||||||
| Sumitomo Chemical India Ltd. | 37,476 | 180,333 | ||||||
| Sun TV Network Ltd. | 30,806 | 165,225 | ||||||
| Sundram Fasteners Ltd. | 40,150 | 547,107 | ||||||
| Suprajit Engineering Ltd. | 35,770 | 163,186 | ||||||
| Supreme Industries Ltd. | 24,601 | 820,811 | ||||||
| Supreme Petrochem Ltd., NVS | 27,010 | 117,351 | ||||||
| Suven Pharmaceuticals Ltd. | 42,267 | 243,634 | ||||||
| Suzlon Energy Ltd.(a) | 2,673,406 | 378,897 | ||||||
| Syngene International Ltd.(b) | 61,101 | 535,037 | ||||||
| Tanla Platforms Ltd. | 25,842 | 245,660 | ||||||
| Tata Chemicals Ltd. | 54,074 | 633,575 | ||||||
| Tata Communications Ltd. | 40,442 | 633,802 | ||||||
| Tata Investment Corp. Ltd. | 4,599 | 122,893 | ||||||
| Tata Teleservices Maharashtra Ltd.(a) | 201,480 | 149,447 | ||||||
| TCI Express Ltd. | 5,767 | 110,536 | ||||||
| TeamLease Services Ltd.(a) | 5,548 | 148,943 | ||||||
| Tejas Networks Ltd.(a)(b) | 28,470 | 239,488 | ||||||
| Thermax Ltd. | 16,790 | 473,506 | ||||||
| Timken India Ltd. | 8,979 | 358,213 | ||||||
| Torrent Power Ltd. | 61,174 | 407,387 | ||||||
| TransIndia Realty and Logistics Parks Ltd. | 44,331 | 21,857 | ||||||
5
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| India (continued) | ||||||||
| Transport Corp. of India Ltd. | 9,344 | $ | 80,036 | |||||
| Trident Ltd. | 487,494 | 192,058 | ||||||
| Triveni Engineering & Industries Ltd. | 41,172 | 136,674 | ||||||
| Triveni Turbine Ltd. | 40,150 | 193,878 | ||||||
| TTK Prestige Ltd. | 18,980 | 157,515 | ||||||
| TV18 Broadcast Ltd.(a) | 274,991 | 116,519 | ||||||
| UNO Minda Ltd. | 71,540 | 480,072 | ||||||
| Usha Martin Ltd. | 57,816 | 159,080 | ||||||
| UTI Asset Management Co. Ltd. | 17,593 | 150,501 | ||||||
| Vardhman Textiles Ltd.(a) | 44,268 | 172,053 | ||||||
| V-Guard Industries Ltd. | 68,036 | 206,472 | ||||||
| Vijaya Diagnostic Centre Pvt Ltd. | 18,994 | 88,142 | ||||||
| Vinati Organics Ltd. | 11,899 | 261,526 | ||||||
| VIP Industries Ltd. | 29,711 | 217,551 | ||||||
| V-Mart Retail Ltd. | 5,256 | 129,057 | ||||||
| Vodafone Idea Ltd.(a) | 3,684,039 | 320,188 | ||||||
| Voltas Ltd. | 72,051 | 714,310 | ||||||
| Welspun Corp. Ltd. | 47,596 | 145,094 | ||||||
| West Coast Paper Mills Ltd. | 13,724 | 90,128 | ||||||
| Westlife Development Ltd.(a) | 30,548 | 284,566 | ||||||
| Whirlpool of India Ltd. | 12,702 | 218,841 | ||||||
| Zee Entertainment Enterprises Ltd. | 324,109 | 762,661 | ||||||
| Zensar Technologies Ltd. | 44,092 | 196,626 | ||||||
| ZF Commercial Vehicle Control Systems India Ltd. | 1,606 | 206,667 | ||||||
| 87,624,780 | ||||||||
| Indonesia — 2.3% | ||||||||
| Ace Hardware Indonesia Tbk PT | 1,781,200 | 74,822 | ||||||
| AKR Corporindo Tbk PT | 3,263,892 | 297,037 | ||||||
| Astra Agro Lestari Tbk PT | 138,700 | 65,211 | ||||||
| Astrindo Nusantara Infrastructure Tbk PT(a) | 19,526,800 | 183,674 | ||||||
| Bank Aladin Syariah Tbk PT(a) | 2,576,900 | 220,902 | ||||||
| Bank BTPN Syariah Tbk PT | 919,800 | 116,645 | ||||||
| Bank Bukopin Tbk PT(a) | 19,435,952 | 128,363 | ||||||
| Bank Neo Commerce Tbk PT(a) | 2,593,166 | 77,806 | ||||||
| Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT | 1,233,064 | 99,945 | ||||||
| Bank Tabungan Negara Persero Tbk PT | 1,839,600 | 157,014 | ||||||
| Berkah Beton Sadaya Tbk PT | 7,350,000 | 135,330 | ||||||
| BFI Finance Indonesia Tbk PT | 3,190,100 | 277,526 | ||||||
| Bukalapak.com PT Tbk(a) | 20,191,800 | 284,986 | ||||||
| Bukit Asam Tbk PT | 1,511,100 | 308,256 | ||||||
| Bumi Resources Minerals Tbk PT(a) | 15,687,700 | 121,331 | ||||||
| Bumi Resources Tbk PT(a) | 26,406,400 | 169,114 | ||||||
| Bumi Serpong Damai Tbk PT(a) | 3,146,300 | 220,388 | ||||||
| Ciputra Development Tbk PT | 3,628,163 | 258,982 | ||||||
| Cisarua Mountain Dairy PT TBK | 503,700 | 145,498 | ||||||
| Digital Mediatama Maxima Tbk PT(a) | 730,000 | 29,706 | ||||||
| Energi Mega Persada Tbk PT, NVS(a) | 2,883,500 | 41,522 | ||||||
| Erajaya Swasembada Tbk PT | 3,153,600 | 101,765 | ||||||
| Hanson International Tbk PT(a)(d) | 25,794,200 | — | ||||||
| Harum Energy Tbk PT | 1,022,000 | 96,009 | ||||||
| Indika Energy Tbk PT | 700,800 | 80,119 | ||||||
| Indo Tambangraya Megah Tbk PT | 160,700 | 236,937 | ||||||
| Indocement Tunggal Prakarsa Tbk PT | 481,800 | 317,821 | ||||||
| Industri Jamu Dan Farmasi Sido Muncul Tbk PT | 2,257,057 | 109,164 | ||||||
| Inti Agri Resources Tbk PT(a)(d) | 12,327,500 | — | ||||||
| Japfa Comfeed Indonesia Tbk PT | 1,898,000 | 151,277 | ||||||
| Jasa Marga Persero Tbk PT | 795,700 | 176,660 | ||||||
| Lippo Karawaci Tbk PT(a) | 9,872,000 | 61,244 | ||||||
| Map Aktif Adiperkasa PT(a) | 277,400 | 116,586 | ||||||
| Security | Shares | Value | ||||||
| Indonesia (continued) | ||||||||
| Matahari Department Store Tbk PT | 459,900 | $ | 113,518 | |||||
| Medco Energi Internasional Tbk PT | 3,287,712 | 198,113 | ||||||
| Media Nusantara Citra Tbk PT(a) | 2,774,300 | 118,376 | ||||||
| Medikaloka Hermina Tbk PT | 2,625,900 | 230,357 | ||||||
| Metro Healthcare Indonesia TBK PT(a) | 8,066,500 | 260,403 | ||||||
| Mitra Adiperkasa Tbk PT(a) | 3,420,000 | 404,742 | ||||||
| Pabrik Kertas Tjiwi Kimia Tbk PT | 584,000 | 222,937 | ||||||
| Pacific Strategic Financial Tbk PT(a) | 2,912,700 | 215,684 | ||||||
| Pakuwon Jati Tbk PT | 5,934,900 | 185,156 | ||||||
| Panin Financial Tbk PT | 4,550,400 | 77,681 | ||||||
| Perusahaan Gas Negara Tbk PT | 4,321,600 | 411,796 | ||||||
| Perusahaan Perkebunan London Sumatra Indonesia Tbk PT | 1,204,500 | 77,106 | ||||||
| Sawit Sumbermas Sarana Tbk PT | 985,500 | 100,259 | ||||||
| Smartfren Telecom Tbk PT(a) | 38,529,400 | 154,212 | ||||||
| Sugih Energy Tbk PT(a)(d) | 1,824,800 | — | ||||||
| Summarecon Agung Tbk PT | 3,832,550 | 163,577 | ||||||
| Surya Citra Media Tbk PT | 9,577,600 | 88,173 | ||||||
| Surya Esa Perkasa Tbk PT | 3,306,900 | 107,620 | ||||||
| Temas Tbk PT | 4,088,000 | 78,542 | ||||||
| Timah Tbk PT | 1,051,200 | 65,180 | ||||||
| Transcoal Pacific Tbk PT | 386,900 | 178,093 | ||||||
| Waskita Karya Persero Tbk PT(a)(d) | 3,225,094 | 43,460 | ||||||
| XL Axiata Tbk PT | 1,408,900 | 186,357 | ||||||
| 8,542,982 | ||||||||
| Kuwait — 1.1% | ||||||||
| Al Ahli Bank of Kuwait KSCP | 306,600 | 304,615 | ||||||
| Boubyan Petrochemicals Co. KSCP | 187,683 | 491,323 | ||||||
| Boursa Kuwait Securities Co. KPSC | 41,829 | 247,628 | ||||||
| Burgan Bank SAK | 349,013 | 214,457 | ||||||
| Gulf Cable & Electrical Industries Co. KSCP | 38,033 | 142,078 | ||||||
| Humansoft Holding Co. KSC | 36,906 | 414,349 | ||||||
| Jazeera Airways Co. KSCP | 36,573 | 225,943 | ||||||
| Kuwait International Bank KSCP | 437,730 | 231,825 | ||||||
| Kuwait Projects Co. Holding KSCP(a) | 725,356 | 287,319 | ||||||
| National Industries Group Holding SAK | 891,766 | 561,730 | ||||||
| National Investments Co. KSCP | 161,915 | 99,870 | ||||||
| National Real Estate Co. KPSC(a) | 388,467 | 99,693 | ||||||
| Salhia Real Estate Co. KSCP | 136,510 | 230,119 | ||||||
| Shamal Az-Zour Al-Oula for the First Phase of Az-Zour Power Plant KSC | 239,511 | 143,274 | ||||||
| Warba Bank KSCP | 542,202 | 373,558 | ||||||
| 4,067,781 | ||||||||
| Malaysia — 2.5% | ||||||||
| AFFIN Bank Bhd(c) | 167,900 | 72,004 | ||||||
| Alliance Bank Malaysia Bhd | 401,700 | 300,214 | ||||||
| Axis Real Estate Investment Trust | 613,200 | 245,785 | ||||||
| Bank Islam Malaysia Bhd | 203,200 | 81,476 | ||||||
| Bermaz Auto Bhd | 518,400 | 243,728 | ||||||
| British American Tobacco Malaysia Bhd | 65,844 | 146,254 | ||||||
| Bumi Armada Bhd(a) | 1,022,000 | 138,186 | ||||||
| Bursa Malaysia Bhd | 277,550 | 372,755 | ||||||
| Carlsberg Brewery Malaysia Bhd | 73,000 | 326,975 | ||||||
| Chin Hin Group Bhd, NVS | 292,000 | 262,311 | ||||||
| D&O Green Technologies Bhd | 219,000 | 172,511 | ||||||
| Dagang NeXchange Bhd | 905,200 | 82,223 | ||||||
| DRB-Hicom Bhd | 423,400 | 120,985 | ||||||
| Fraser & Neave Holdings Bhd | 45,900 | 251,524 | ||||||
| Frontken Corp. Bhd | 455,550 | 306,619 | ||||||
| Genting Plantations Bhd | 58,400 | 75,918 | ||||||
6
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Malaysia (continued) | ||||||||
| Greatech Technology Bhd(a) | 189,800 | $ | 169,599 | |||||
| Hartalega Holdings Bhd | 635,100 | 315,822 | ||||||
| Heineken Malaysia Bhd | 57,000 | 327,761 | ||||||
| Hibiscus Petroleum Bhd(c) | 775,500 | 152,582 | ||||||
| IGB Real Estate Investment Trust | 7,700 | 2,618 | ||||||
| IJM Corp. Bhd | 817,600 | 290,550 | ||||||
| IOI Properties Group Bhd | 540,200 | 127,515 | ||||||
| Kossan Rubber Industries Bhd(c) | 569,400 | 182,602 | ||||||
| Lotte Chemical Titan Holding Bhd(b) | 255,500 | 65,841 | ||||||
| Magnum Bhd | 151,950 | 33,251 | ||||||
| Malaysia Building Society Bhd | 1,306,800 | 175,426 | ||||||
| Malaysian Pacific Industries Bhd(c) | 36,500 | 213,112 | ||||||
| My EG Services Bhd(c) | 2,228,000 | 405,141 | ||||||
| Padini Holdings Bhd | 219,000 | 176,510 | ||||||
| Pentamaster Corp. Bhd(c) | 270,150 | 291,835 | ||||||
| PMB Technology Bhd(a)(c) | 109,500 | 87,973 | ||||||
| Sam Engineering & Equipment M Bhd | 94,900 | 96,029 | ||||||
| Scientex Bhd | 373,100 | 268,363 | ||||||
| Sime Darby Property Bhd | 1,307,200 | 131,572 | ||||||
| SKP Resources Bhd(c) | 481,800 | 106,455 | ||||||
| SP Setia Bhd Group | 737,400 | 84,596 | ||||||
| Sports Toto Bhd | 121,493 | 34,223 | ||||||
| Sunway REIT | 677,900 | 239,319 | ||||||
| Supermax Corp. Bhd | 763,816 | 159,513 | ||||||
| Syarikat Takaful Malaysia Keluarga Bhd | 36,644 | 26,826 | ||||||
| TIME dotCom Bhd | 472,600 | 549,429 | ||||||
| TSH Resources Bhd | 167,900 | 33,990 | ||||||
| UMW Holdings Bhd(c) | 153,400 | 127,958 | ||||||
| Unisem M Bhd(c) | 211,700 | 142,904 | ||||||
| United Plantations Bhd | 21,900 | 73,071 | ||||||
| UWC Bhd(c) | 211,700 | 136,801 | ||||||
| ViTrox Corp. Bhd | 140,100 | 236,650 | ||||||
| VS Industry Bhd | 1,226,650 | 212,569 | ||||||
| Yinson Holdings Bhd | 514,800 | 289,997 | ||||||
| YTL Corp. Bhd | 1,394,300 | 292,889 | ||||||
| 9,460,760 | ||||||||
| Mexico — 2.4% | ||||||||
| Alsea SAB de CV(a) | 182,500 | 529,373 | ||||||
| Bolsa Mexicana de Valores SAB de CV | 151,500 | 319,718 | ||||||
| Concentradora Fibra Danhos SA de CV(c) | 77,000 | 96,506 | ||||||
| Controladora Vuela Cia. de Aviacion SAB de CV, Class A(a) | 343,100 | 473,268 | ||||||
| Corp Inmobiliaria Vesta SAB de CV | 241,400 | 765,864 | ||||||
| FIBRA Macquarie Mexico(b) | 321,300 | 545,097 | ||||||
| GCC SAB de CV | 67,420 | 515,645 | ||||||
| Genomma Lab Internacional SAB de CV, Class B | 224,400 | 188,385 | ||||||
| Gentera SAB de CV | 430,700 | 462,864 | ||||||
| Grupo Aeroportuario del Centro Norte SAB de CV | 113,808 | 1,178,678 | ||||||
| Grupo Herdez SAB de CV | 51,100 | 127,598 | ||||||
| Grupo Rotoplas SAB de CV | 85,067 | 133,403 | ||||||
| Grupo Traxion SAB de CV(a)(b)(c) | 94,951 | 193,241 | ||||||
| La Comer SAB de CV | 189,800 | 410,738 | ||||||
| Megacable Holdings SAB de CV, CPO | 65,700 | 152,281 | ||||||
| Nemak SAB de CV(a)(b) | 700,896 | 164,040 | ||||||
| PLA Administradora Industrial S. de RL de CV(c) | 268,400 | 488,124 | ||||||
| Prologis Property Mexico SA de CV | 222,831 | 750,916 | ||||||
| Qualitas Controladora SAB de CV | 65,700 | 443,769 | ||||||
| Regional SAB de CV(c) | 94,800 | 737,595 | ||||||
| Sitios Latinoamerica SAB de CV(a)(c) | 613,200 | 254,446 | ||||||
| 8,931,549 | ||||||||
| Security | Shares | Value | ||||||
| Philippines — 1.0% | ||||||||
| Alliance Global Group Inc. | 1,102,300 | $ | 260,211 | |||||
| AREIT Inc. | 292,000 | 171,581 | ||||||
| Bloomberry Resorts Corp.(a) | 1,533,000 | 280,494 | ||||||
| Century Pacific Food Inc. | 536,500 | 223,064 | ||||||
| Converge Information and Communications Technology Solutions Inc.(a) | 730,000 | 141,402 | ||||||
| D&L Industries Inc. | 1,022,100 | 126,489 | ||||||
| DMCI Holdings Inc. | 1,124,200 | 189,424 | ||||||
| GT Capital Holdings Inc. | 26,220 | 240,859 | ||||||
| LT Group Inc. | 1,051,200 | 179,327 | ||||||
| Manila Water Co. Inc. | 528,200 | 169,671 | ||||||
| Megaworld Corp. | 4,015,000 | 145,794 | ||||||
| Metro Pacific Investments Corp. | 3,504,000 | 271,449 | ||||||
| Puregold Price Club Inc. | 379,600 | 204,667 | ||||||
| RL Commercial REIT Inc. | 2,250,000 | 233,974 | ||||||
| Robinsons Land Corp. | 744,600 | 184,236 | ||||||
| Robinsons Retail Holdings Inc. | 89,790 | 82,171 | ||||||
| Security Bank Corp. | 159,870 | 241,970 | ||||||
| Semirara Mining & Power Corp. | 284,700 | 141,871 | ||||||
| Wilcon Depot Inc. | 576,700 | 291,643 | ||||||
| 3,780,297 | ||||||||
| Poland — 1.1% | ||||||||
| Alior Bank SA(a) | 35,916 | 342,875 | ||||||
| AmRest Holdings SE(a) | 30,076 | 158,013 | ||||||
| Asseco Poland SA | 21,973 | 427,537 | ||||||
| Bank Millennium SA(a) | 230,461 | 242,648 | ||||||
| Budimex SA | 5,037 | 401,284 | ||||||
| CCC SA(a) | 17,926 | 193,594 | ||||||
| Ciech SA | 11,388 | 124,516 | ||||||
| Enea SA(a) | 113,272 | 171,446 | ||||||
| Grupa Azoty SA(a)(c) | 21,442 | 129,189 | ||||||
| Jastrzebska Spolka Weglowa SA(a) | 22,324 | 202,913 | ||||||
| KRUK SA | 7,081 | 619,537 | ||||||
| LiveChat Software SA | 7,446 | 232,230 | ||||||
| Orange Polska SA | 241,776 | 412,573 | ||||||
| Tauron Polska Energia SA(a) | 423,298 | 221,953 | ||||||
| Warsaw Stock Exchange | 10,220 | 91,925 | ||||||
| 3,972,233 | ||||||||
| Qatar — 0.9% | ||||||||
| Aamal Co. | 37,635 | 8,448 | ||||||
| Al Meera Consumer Goods Co. QSC | 36,233 | 140,635 | ||||||
| Baladna(a) | 352,955 | 147,043 | ||||||
| Doha Bank QPSC | 654,182 | 294,330 | ||||||
| Estithmar Holding QPSC(a) | 275,612 | 171,547 | ||||||
| Gulf International Services QSC | 276,656 | 143,224 | ||||||
| Gulf Warehousing Co. | 147,460 | 142,091 | ||||||
| Mannai Corp. QSC | 34,014 | 53,690 | ||||||
| Medicare Group | 83,163 | 158,998 | ||||||
| Qatar Aluminum Manufacturing Co. | 956,227 | 401,218 | ||||||
| Qatar Insurance Co. SAQ(a) | 539,449 | 301,856 | ||||||
| Qatar National Cement Co. QSC | 113,077 | 121,514 | ||||||
| Qatar Navigation QSC | 215,569 | 602,896 | ||||||
| Qatari Investors Group QSC | 139,042 | 65,809 | ||||||
| United Development Co. QSC | 682,016 | 221,212 | ||||||
| Vodafone Qatar QSC | 729,857 | 363,418 | ||||||
| 3,337,929 | ||||||||
| Russia — 0.0% | ||||||||
| Credit Bank of Moscow PJSC(a)(d) | 4,743,600 | 582 | ||||||
| Detsky Mir PJSC(a)(b)(d) | 238,520 | 29 | ||||||
| Federal Grid Co. Unified Energy System PJSC(a)(d) | 142,040,000 | 17 | ||||||
7
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Russia (continued) | ||||||||
| Globaltrans Investment PLC, GDR(a)(d)(f) | 36,180 | $ | 4 | |||||
| Lenta PJSC, GDR(a)(d) | 58,692 | 7 | ||||||
| LSR Group PJSC(a)(d) | 16,818 | 2 | ||||||
| Mosenergo PJSC(d) | 4,900,000 | 601 | ||||||
| QIWI PJSC, ADR(a)(d) | 20,971 | 3 | ||||||
| Rostelecom PJSC(d) | 373,860 | 46 | ||||||
| Segezha Group PJSC(b)(d) | 1,675,000 | 205 | ||||||
| Sistema PJSFC(a)(d) | 1,865,280 | 229 | ||||||
| Sovcomflot PJSC(a)(d) | 338,350 | 42 | ||||||
| Unipro PJSC(a)(d) | 4,288,000 | 526 | ||||||
| United Medical Group, GDR(a)(d) | 11,658 | 1 | ||||||
| 2,294 | ||||||||
| Saudi Arabia — 3.7% | ||||||||
| Abdullah Al Othaim Markets Co. | 17,260 | 625,541 | ||||||
| Al Hammadi Holding | 31,536 | 430,996 | ||||||
| Al Jouf Agricultural Development Co. | 9,135 | 131,886 | ||||||
| Al Masane Al Kobra Mining Co. | 5,621 | 116,688 | ||||||
| Al Moammar Information Systems Co. | 6,391 | 233,414 | ||||||
| Al Rajhi Co. for Co-operative Insurance(a) | 6,789 | 208,876 | ||||||
| Alamar Foods, NVS | 3,942 | 137,678 | ||||||
| Al-Dawaa Medical Services Co. | 9,488 | 217,952 | ||||||
| Aldrees Petroleum and Transport Services Co. | 15,038 | 431,016 | ||||||
| AlKhorayef Water & Power Technologies Co. | 5,658 | 227,584 | ||||||
| Almunajem Foods Co. | 6,935 | 120,128 | ||||||
| Alujain Corp. | 17,195 | 187,500 | ||||||
| Arabian Cement Co./Saudi Arabia | 23,214 | 232,443 | ||||||
| Arabian Contracting Services Co. | 6,170 | 235,197 | ||||||
| Arriyadh Development Co. | 39,639 | 213,972 | ||||||
| Astra Industrial Group | 15,946 | 306,948 | ||||||
| City Cement Co. | 33,315 | 210,507 | ||||||
| Co. for Cooperative Insurance (The)(a) | 23,048 | 699,281 | ||||||
| Dur Hospitality Co.(a) | 21,170 | 152,414 | ||||||
| Eastern Province Cement Co. | 18,469 | 216,554 | ||||||
| Fawaz Abdulaziz Al Hokair & Co.(a) | 19,543 | 81,866 | ||||||
| Halwani Brothers Co. | 5,913 | 95,788 | ||||||
| Herfy Food Services Co. | 7,373 | 68,576 | ||||||
| Jadwa REIT Saudi Fund | 66,511 | 244,563 | ||||||
| Leejam Sports Co. JSC | 10,074 | 316,881 | ||||||
| Maharah Human Resources Co. | 12,840 | 229,196 | ||||||
| Methanol Chemicals Co.(a) | 16,553 | 112,111 | ||||||
| Middle East Healthcare Co.(a) | 13,140 | 205,991 | ||||||
| Middle East Paper Co. | 11,718 | 106,172 | ||||||
| National Agriculture Development Co. (The)(a) | 22,703 | 203,342 | ||||||
| National Co. for Learning & Education Ltd. | 6,789 | 204,870 | ||||||
| National Gas & Industrialization Co. | 15,890 | 259,500 | ||||||
| National Medical Care Co. | 9,709 | 285,254 | ||||||
| Perfect Presentation For Commercial Services Co., NVS | 1,752 | 106,592 | ||||||
| Qassim Cement Co. (The) | 16,279 | 318,566 | ||||||
| Riyadh Cables Group Co.(a) | 9,052 | 147,214 | ||||||
| Saudi Airlines Catering Co. | 17,374 | 404,797 | ||||||
| Saudi Arabia Refineries Co. | 2,628 | 61,110 | ||||||
| Saudi Cement Co. | 28,515 | 446,154 | ||||||
| Saudi Ceramic Co. | 16,415 | 138,584 | ||||||
| Saudi Chemical Co. Holding | 20,367 | 190,745 | ||||||
| Saudi Fisheries Co.(a) | 23,602 | 200,901 | ||||||
| Saudi Ground Services Co.(a) | 41,318 | 357,120 | ||||||
| Saudi Industrial Services Co. | 20,221 | 158,029 | ||||||
| Saudi Pharmaceutical Industries & Medical Appliances Corp.(a) | 22,046 | 223,363 | ||||||
| Saudi Public Transport Co.(a) | 34,164 | 163,915 | ||||||
| Security | Shares | Value | ||||||
| Saudi Arabia (continued) | ||||||||
| Saudi Real Estate Co.(a) | 71,029 | $ | 264,620 | |||||
| Saudia Dairy & Foodstuff Co. | 6,132 | 501,572 | ||||||
| Seera Group Holding(a) | 60,809 | 415,511 | ||||||
| Sinad Holding Co.(a) | 19,126 | 64,372 | ||||||
| Southern Province Cement Co. | 23,141 | 326,153 | ||||||
| Tanmiah Food Co. | 1,752 | 59,789 | ||||||
| Theeb Rent A Car Co. | 8,833 | 178,676 | ||||||
| United Electronics Co. | 15,501 | 299,622 | ||||||
| United International Transportation Co. | 17,301 | 304,314 | ||||||
| Yamama Cement Co. | 41,829 | 375,823 | ||||||
| Yanbu Cement Co. | 29,711 | 324,279 | ||||||
| 13,782,506 | ||||||||
| South Africa — 2.6% | ||||||||
| Adcock Ingram Holdings Ltd. | 26,499 | 68,536 | ||||||
| AECI Ltd. | 41,537 | 177,091 | ||||||
| Astral Foods Ltd. | 14,249 | 102,857 | ||||||
| AVI Ltd. | 123,187 | 387,957 | ||||||
| Barloworld Ltd. | 61,758 | 260,640 | ||||||
| Coronation Fund Managers Ltd. | 91,834 | 146,562 | ||||||
| Dis-Chem Pharmacies Ltd.(b) | 138,408 | 154,023 | ||||||
| DRDGOLD Ltd. | 190,311 | 213,354 | ||||||
| Equites Property Fund Ltd. | 290,686 | 176,899 | ||||||
| Fortress REIT Ltd., Series A(a) | 454,425 | 295,640 | ||||||
| Grindrod Ltd. | 248,127 | 113,627 | ||||||
| Hosken Consolidated Investments Ltd. | 15,403 | 160,666 | ||||||
| Hyprop Investments Ltd. | 144,496 | 221,154 | ||||||
| Investec Ltd. | 100,813 | 507,880 | ||||||
| Investec Property Fund Ltd. | 192,547 | 73,626 | ||||||
| JSE Ltd. | 39,044 | 180,487 | ||||||
| KAP Ltd. | 986,851 | 111,103 | ||||||
| Life Healthcare Group Holdings Ltd. | 493,423 | 467,931 | ||||||
| Momentum Metropolitan Holdings | 435,768 | 373,476 | ||||||
| Motus Holdings Ltd. | 62,853 | 288,435 | ||||||
| Netcare Ltd. | 421,867 | 293,529 | ||||||
| Ninety One Ltd. | 67,225 | 136,231 | ||||||
| Oceana Group Ltd. | 43,751 | 160,482 | ||||||
| Omnia Holdings Ltd. | 72,812 | 211,286 | ||||||
| Pick n Pay Stores Ltd. | 142,354 | 228,344 | ||||||
| PSG Konsult Ltd. | 414,487 | 241,309 | ||||||
| Redefine Properties Ltd. | 2,618,257 | 413,745 | ||||||
| Resilient REIT Ltd. | 113,807 | 230,860 | ||||||
| Reunert Ltd. | 58,400 | 166,119 | ||||||
| Royal Bafokeng Platinum Ltd. | 31,317 | 215,993 | ||||||
| Santam Ltd. | 16,936 | 224,882 | ||||||
| Sappi Ltd. | 197,398 | 436,866 | ||||||
| SPAR Group Ltd. (The) | 71,175 | 382,164 | ||||||
| Super Group Ltd./South Africa | 157,972 | 244,424 | ||||||
| Telkom SA SOC Ltd.(a) | 112,347 | 156,332 | ||||||
| Thungela Resources Ltd. | 48,507 | 336,710 | ||||||
| Tiger Brands Ltd. | 62,576 | 477,093 | ||||||
| Transaction Capital Ltd. | 229,527 | 80,200 | ||||||
| Truworths International Ltd. | 142,715 | 344,868 | ||||||
| Vukile Property Fund Ltd. | 331,526 | 208,478 | ||||||
| Wilson Bayly Holmes-Ovcon Ltd.(a) | 21,356 | 103,126 | ||||||
| 9,774,985 | ||||||||
| South Korea — 14.8% | ||||||||
| ABLBio Inc.(a)(c) | 12,848 | 226,083 | ||||||
| Advanced Nano Products Co. Ltd.(c) | 3,212 | 323,146 | ||||||
| AfreecaTV Co. Ltd. | 3,285 | 185,895 | ||||||
| Ahnlab Inc. | 2,881 | 136,749 | ||||||
8
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| South Korea (continued) | ||||||||
| Alteogen Inc.(a)(c) | 13,797 | $ | 524,462 | |||||
| Amorepacific Group | 10,585 | 231,591 | ||||||
| Ananti Inc.(a) | 41,596 | 192,302 | ||||||
| Asiana Airlines Inc.(a) | 16,624 | 154,078 | ||||||
| BH Co. Ltd.(c) | 11,023 | 207,956 | ||||||
| Bioneer Corp.(a)(c) | 8,760 | 352,960 | ||||||
| BNK Financial Group Inc.(c) | 100,589 | 508,371 | ||||||
| Boryung | 13,450 | 89,645 | ||||||
| Bukwang Pharmaceutical Co. Ltd.(a) | 30,806 | 178,414 | ||||||
| Caregen Co. Ltd. | 1,241 | 172,119 | ||||||
| Cellivery Therapeutics Inc.(a)(d) | 10,519 | 50,295 | ||||||
| Chabiotech Co. Ltd.(a)(c) | 20,452 | 235,074 | ||||||
| Cheil Worldwide Inc. | 9,271 | 128,036 | ||||||
| Chong Kun Dang Pharmaceutical Corp. | 3,526 | 233,880 | ||||||
| Chunbo Co. Ltd.(c) | 2,152 | 306,976 | ||||||
| CJ CGV Co. Ltd.(a) | 14,308 | 167,907 | ||||||
| CJ ENM Co. Ltd.(a) | 4,015 | 229,461 | ||||||
| CJ Logistics Corp. | 2,993 | 183,871 | ||||||
| Com2uSCorp. | 3,504 | 175,712 | ||||||
| Cosmax Inc.(a)(c) | 3,577 | 214,037 | ||||||
| Cosmochemical Co. Ltd.(a) | 9,563 | 355,360 | ||||||
| Creative & Innovative System(a)(c) | 19,272 | 173,727 | ||||||
| CS Wind Corp. | 10,366 | 616,649 | ||||||
| Cuckoo Homesys Co. Ltd. | 7,569 | 141,985 | ||||||
| Daeduck Electronics Co. Ltd./New(c) | 13,797 | 263,235 | ||||||
| Daejoo Electronic Materials Co. Ltd. | 4,526 | 322,278 | ||||||
| Daesang Corp. | 11,534 | 161,969 | ||||||
| Daewoo Engineering & Construction Co. Ltd.(a) | 84,590 | 273,294 | ||||||
| Daewoo Shipbuilding & Marine Engineering Co. Ltd.(a)(c) | 15,257 | 325,935 | ||||||
| Daewoong Co. Ltd. | 9,855 | 108,750 | ||||||
| Daewoong Pharmaceutical Co. Ltd. | 1,971 | 164,197 | ||||||
| Daishin Securities Co. Ltd. | 17,301 | 175,142 | ||||||
| Danal Co. Ltd.(a) | 27,667 | 89,043 | ||||||
| Daou Technology Inc. | 12,053 | 174,058 | ||||||
| Dawonsys Co. Ltd.(a) | 14,456 | 170,954 | ||||||
| DB HiTek Co. Ltd. | 12,556 | 569,468 | ||||||
| Dentium Co. Ltd. | 3,066 | 366,070 | ||||||
| DGB Financial Group Inc. | 57,791 | 305,151 | ||||||
| DL E&C Co. Ltd. | 13,067 | 356,983 | ||||||
| DL Holdings Co. Ltd. | 5,840 | 201,286 | ||||||
| Dong-A Socio Holdings Co. Ltd. | 1,825 | 114,653 | ||||||
| Dong-A ST Co. Ltd. | 3,501 | 144,498 | ||||||
| Dongjin Semichem Co. Ltd. | 13,905 | 400,807 | ||||||
| DongKook Pharmaceutical Co. Ltd.(c) | 12,220 | 142,954 | ||||||
| Dongkuk Steel Mill Co. Ltd. | 30,410 | 260,836 | ||||||
| Dongsuh Companies Inc. | 12,214 | 187,211 | ||||||
| Dongwha Enterprise Co. Ltd.(a) | 2,205 | 80,508 | ||||||
| Dongwon F&B Co. Ltd. | 4,113 | 97,352 | ||||||
| Dongwon Industries Co. Ltd. | 758 | 26,122 | ||||||
| Doosan Co. Ltd. | 2,847 | 208,378 | ||||||
| Doosan Fuel Cell Co. Ltd.(a) | 17,009 | 394,200 | ||||||
| DoubleUGames Co. Ltd. | 4,672 | 156,401 | ||||||
| Douzone Bizon Co. Ltd.(c) | 8,091 | 189,176 | ||||||
| Duk San Neolux Co. Ltd.(a) | 4,234 | 145,961 | ||||||
| Ecopro Co. Ltd.(c) | 7,155 | 3,026,721 | ||||||
| Ecopro HN Co. Ltd.(c) | 4,891 | 228,634 | ||||||
| Enchem Co. Ltd.(a)(c) | 3,577 | 195,381 | ||||||
| Eo Technics Co. Ltd. | 3,285 | 228,413 | ||||||
| Eoflow Co. Ltd.(a) | 6,490 | 139,849 | ||||||
| ESR Kendall Square REIT Co. Ltd. | 61,814 | 193,887 | ||||||
| Security | Shares | Value | ||||||
| South Korea (continued) | ||||||||
| Eugene Technology Co. Ltd. | 5,621 | $ | 131,342 | |||||
| Fila Holdings Corp. | 18,323 | 501,535 | ||||||
| Foosung Co. Ltd.(c) | 21,477 | 220,652 | ||||||
| GC Cell Corp. | 5,621 | 195,943 | ||||||
| GemVax & Kael Co. Ltd.(a)(c) | 12,702 | 150,437 | ||||||
| Geneone Life Science Inc.(a) | 30,222 | 113,739 | ||||||
| Genexine Inc.(a) | 18,287 | 172,175 | ||||||
| GOLFZON Co. Ltd. | 1,825 | 154,049 | ||||||
| Grand Korea Leisure Co. Ltd.(a) | 16,070 | 236,303 | ||||||
| Green Cross Corp. | 1,825 | 172,871 | ||||||
| Green Cross Holdings Corp. | 11,753 | 137,118 | ||||||
| GS Engineering & Construction Corp. | 20,075 | 313,346 | ||||||
| GS Retail Co. Ltd. | 16,425 | 307,568 | ||||||
| HAESUNG DS Co. Ltd. | 4,460 | 169,921 | ||||||
| Hana Materials Inc.(c) | 3,577 | 123,996 | ||||||
| Hana Micron Inc. | 11,680 | 149,163 | ||||||
| Hana Tour Service Inc.(a) | 5,092 | 209,387 | ||||||
| Hanall Biopharma Co. Ltd.(a) | 15,111 | 250,866 | ||||||
| Handsome Co. Ltd. | 7,156 | 124,533 | ||||||
| Hanil Cement Co. Ltd./New | 9,344 | 90,531 | ||||||
| Hankook & Co. Co. Ltd. | 12,264 | 110,887 | ||||||
| Hanmi Semiconductor Co. Ltd. | 16,936 | 337,477 | ||||||
| Hansae Co. Ltd. | 6,750 | 80,832 | ||||||
| Hansol Chemical Co. Ltd.(c) | 3,650 | 636,124 | ||||||
| Hanssem Co. Ltd. | 4,380 | 150,032 | ||||||
| Hanwha Corp. | 14,089 | 323,632 | ||||||
| Hanwha Investment & Securities Co. Ltd.(a) | 49,786 | 102,315 | ||||||
| Hanwha Life Insurance Co. Ltd.(a) | 124,538 | 236,722 | ||||||
| Hanwha Systems Co. Ltd.(c) | 25,769 | 272,953 | ||||||
| HD Hyundai Construction Equipment Co. Ltd. | 4,599 | 206,768 | ||||||
| HD Hyundai Electric Co. Ltd. | 9,125 | 335,614 | ||||||
| HD Hyundai Infracore Co. Ltd.(c) | 49,567 | 354,881 | ||||||
| HDC Hyundai Development Co-Engineering & Construction, Class E | 13,688 | 129,179 | ||||||
| Helixmith Co. Ltd.(a) | 17,744 | 110,754 | ||||||
| Hite Jinro Co. Ltd. | 13,140 | 226,544 | ||||||
| HL Mando Co. Ltd. | 12,778 | 463,607 | ||||||
| HLB Life Science Co. Ltd.(a) | 35,405 | 299,494 | ||||||
| HPSP Co. Ltd. | 2,023 | 41,611 | ||||||
| Hugel Inc.(a) | 2,774 | 227,431 | ||||||
| Humasis Co. Ltd.(a)(c) | 52,650 | 115,306 | ||||||
| Hwaseung Enterprise Co. Ltd. | 10,731 | 57,942 | ||||||
| Hydro Lithium Inc. | 2,186 | 57,398 | ||||||
| Hyosung Advanced Materials Corp. | 1,035 | 347,284 | ||||||
| Hyosung Corp. | 3,077 | 151,322 | ||||||
| Hyosung Heavy Industries Corp.(a) | 2,591 | 156,026 | ||||||
| Hyosung TNC Corp. | 1,095 | 313,642 | ||||||
| Hyundai Autoever Corp. | 2,701 | 256,095 | ||||||
| Hyundai Bioscience Co. Ltd.(a)(c) | 14,308 | 238,397 | ||||||
| Hyundai Department Store Co. Ltd. | 5,878 | 226,062 | ||||||
| Hyundai Elevator Co. Ltd.(c) | 10,001 | 315,185 | ||||||
| Hyundai Feed Inc.(a)(c) | 7,402 | 165,442 | ||||||
| Hyundai Marine & Fire Insurance Co. Ltd. | 20,424 | 505,019 | ||||||
| Hyundai Rotem Co. Ltd.(a) | 29,273 | 681,816 | ||||||
| Hyundai Wia Corp. | 6,244 | 288,242 | ||||||
| Il Dong Pharmaceutical Co. Ltd.(a) | 7,461 | 108,976 | ||||||
| Iljin Hysolus Co. Ltd.(a)(c) | 5,694 | 131,596 | ||||||
| Innocean Worldwide Inc. | 4,180 | 122,933 | ||||||
| Innox Advanced Materials Co. Ltd.(c) | 5,114 | 154,520 | ||||||
| Intellian Technologies Inc.(c) | 3,278 | 167,426 | ||||||
9
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| South Korea (continued) | ||||||||
| IS Dongseo Co. Ltd.(a)(c) | 6,716 | $ | 186,635 | |||||
| ISU Chemical Co. Ltd. | 5,359 | 108,532 | ||||||
| ISU Specialty Chemical | 1,315 | 106,904 | ||||||
| JB Financial Group Co. Ltd. | 38,751 | 247,910 | ||||||
| Jeisys Medical Inc.(a) | 30,587 | 209,178 | ||||||
| Jin Air Co. Ltd.(a) | 14,016 | 159,297 | ||||||
| JR REIT XXVII | 36,427 | 124,740 | ||||||
| Jusung Engineering Co. Ltd.(c) | 14,381 | 180,881 | ||||||
| JW Pharmaceutical Corp. | 8,224 | 143,341 | ||||||
| JYP Entertainment Corp. | 10,658 | 978,285 | ||||||
| K Car Co. Ltd., NVS | 7,655 | 75,729 | ||||||
| KCC Corp.(c) | 1,825 | 286,365 | ||||||
| KCC Glass Corp. | 4,292 | 139,167 | ||||||
| KEPCO Engineering & Construction Co. Inc. | 5,374 | 269,825 | ||||||
| KEPCO Plant Service & Engineering Co. Ltd. | 9,490 | 242,811 | ||||||
| KG Dongbu Steel Co. Ltd.(c) | 14,224 | 95,099 | ||||||
| KIWOOM Securities Co. Ltd. | 7,435 | 525,422 | ||||||
| KMW Co. Ltd.(a) | 13,067 | 182,957 | ||||||
| Koh Young Technology Inc. | 22,448 | 233,480 | ||||||
| Kolmar Korea Co. Ltd. | 7,738 | 218,891 | ||||||
| Kolon Industries Inc. | 7,519 | 242,131 | ||||||
| KoMiCo Ltd. | 2,708 | 106,075 | ||||||
| Korea Electric Terminal Co. Ltd.(c) | 2,745 | 125,400 | ||||||
| Korea Line Corp.(a) | 93,075 | 131,112 | ||||||
| Korean Reinsurance Co. | 35,515 | 188,654 | ||||||
| Kum Yang Co. Ltd.(a)(c) | 12,418 | 451,424 | ||||||
| Kumho Tire Co. Inc.(a) | 47,450 | 168,178 | ||||||
| Kyung Dong Navien Co. Ltd. | 3,580 | 110,697 | ||||||
| L&C Bio Co. Ltd.(c) | 10,079 | 259,267 | ||||||
| Lake Materials Co. Ltd.(a) | 7,327 | 82,972 | ||||||
| LEENO Industrial Inc. | 3,956 | 386,128 | ||||||
| LegoChem Biosciences Inc.(a) | 11,023 | 342,571 | ||||||
| LIG Nex1 Co. Ltd. | 4,862 | 289,637 | ||||||
| Lotte Fine Chemical Co. Ltd. | 7,329 | 324,245 | ||||||
| LOTTE Reit Co. Ltd. | 57,743 | 170,209 | ||||||
| Lotte Rental Co. Ltd. | 7,665 | 160,680 | ||||||
| Lotte Tour Development Co. Ltd.(a) | 24,163 | 200,874 | ||||||
| LS Corp. | 6,824 | 421,815 | ||||||
| LS Electric Co. Ltd. | 6,643 | 318,697 | ||||||
| Lutronic Corp. | 11,315 | 229,800 | ||||||
| LX International Corp. | 11,607 | 263,813 | ||||||
| LX Semicon Co. Ltd. | 4,453 | 389,042 | ||||||
| Mcnex Co. Ltd. | 5,569 | 136,378 | ||||||
| MedPacto Inc.(a)(c) | 7,925 | 131,059 | ||||||
| Medytox Inc.(c) | 2,085 | 386,222 | ||||||
| MegaStudyEdu Co. Ltd. | 3,431 | 164,131 | ||||||
| Myoung Shin Industrial Co. Ltd.(a)(c) | 12,483 | 210,343 | ||||||
| Namhae Chemical Corp. | 16,863 | 110,268 | ||||||
| Nanomedics Co. Ltd.(a) | 7,452 | 67,039 | ||||||
| Naturecell Co. Ltd.(a)(c) | 21,138 | 163,713 | ||||||
| Neowiz Games Corp.(a) | 3,504 | 131,870 | ||||||
| NEPES Corp.(a)(c) | 8,687 | 130,257 | ||||||
| Nexon Games Co. Ltd.(a) | 10,147 | 156,479 | ||||||
| NEXTIN Inc.(c) | 3,212 | 181,109 | ||||||
| NHN Corp.(a) | 8,484 | 167,541 | ||||||
| NICE Information Service Co. Ltd. | 16,152 | 128,595 | ||||||
| NKMax Co. Ltd.(a) | 15,257 | 157,148 | ||||||
| NongShim Co. Ltd. | 1,261 | 416,983 | ||||||
| OCI Co. Ltd. | 2,338 | 254,542 | ||||||
| OCI Holdings Co. Ltd. | 5,161 | 334,520 | ||||||
| Security | Shares | Value | ||||||
| South Korea (continued) | ||||||||
| Orion Holdings Corp.(c) | 8,614 | $ | 98,848 | |||||
| Oscotec Inc.(a) | 12,410 | 220,577 | ||||||
| Ottogi Corp. | 803 | 268,787 | ||||||
| Paradise Co. Ltd.(a)(c) | 20,294 | 219,357 | ||||||
| Park Systems Corp. | 2,190 | 271,069 | ||||||
| Partron Co. Ltd. | 16,133 | 110,613 | ||||||
| People & Technology Inc.(c) | 7,619 | 300,087 | ||||||
| PharmaResearch Co. Ltd. | 2,628 | 227,154 | ||||||
| Pharmicell Co. Ltd.(a) | 25,112 | 167,186 | ||||||
| PI Advanced Materials Co. Ltd. | 7,811 | 195,937 | ||||||
| Poongsan Corp. | 8,050 | 237,660 | ||||||
| Posco DX Co. Ltd.(c) | 22,995 | 198,465 | ||||||
| PSK Inc. | 12,307 | 198,348 | ||||||
| Rainbow Robotics(a) | 3,431 | 266,906 | ||||||
| RFHIC Corp. | 8,599 | 150,700 | ||||||
| S&S Tech Corp. | 4,380 | 182,823 | ||||||
| Sam Chun Dang Pharm Co. Ltd.(a) | 5,256 | 244,899 | ||||||
| Sam Kang M&T Co. Ltd.(a)(c) | 13,322 | 195,571 | ||||||
| Samchully Co. Ltd. | 876 | 80,668 | ||||||
| Samyang Holdings Corp. | 1,533 | 81,457 | ||||||
| Sang-A Frontec Co. Ltd., NVS(c) | 5,767 | 130,761 | ||||||
| SD Biosensor Inc. | 11,023 | 140,606 | ||||||
| Sebang Co. Ltd. | 5,840 | 64,598 | ||||||
| Sebang Global Battery Co. Ltd. | 2,701 | 98,915 | ||||||
| Seegene Inc. | 12,775 | 233,546 | ||||||
| Seojin System Co. Ltd.(a)(c) | 11,388 | 142,072 | ||||||
| Seoul Semiconductor Co. Ltd.(c) | 18,358 | 169,891 | ||||||
| SFA Engineering Corp.(c) | 8,541 | 253,898 | ||||||
| SFA Semicon Co. Ltd.(a)(c) | 32,412 | 138,449 | ||||||
| Shin Poong Pharmaceutical Co. Ltd.(a) | 13,974 | 176,706 | ||||||
| Shinsegae Inc. | 2,847 | 423,908 | ||||||
| Shinsegae International Inc. | 5,475 | 74,363 | ||||||
| SIMMTECH Co. Ltd. | 8,395 | 196,910 | ||||||
| SK Chemicals Co. Ltd. | 4,380 | 247,337 | ||||||
| SK Networks Co. Ltd.(c) | 52,925 | 192,929 | ||||||
| SL Corp. | 6,539 | 177,423 | ||||||
| SM Entertainment Co. Ltd. | 4,478 | 369,229 | ||||||
| SNT Motiv Co. Ltd. | 4,453 | 172,151 | ||||||
| SOLUM Co. Ltd.(a) | 17,690 | 336,665 | ||||||
| Solus Advanced Materials Co. Ltd. | 7,311 | 216,420 | ||||||
| Soulbrain Co. Ltd. | 1,801 | 312,629 | ||||||
| ST Pharm Co. Ltd. | 3,796 | 246,134 | ||||||
| STCUBE(a)(c) | 17,301 | 273,294 | ||||||
| Studio Dragon Corp.(a) | 4,672 | 227,769 | ||||||
| Taekwang Industrial Co. Ltd. | 146 | 71,593 | ||||||
| Taihan Electric Wire Co. Ltd.(a)(c) | 22,742 | 244,073 | ||||||
| TCC Steel | 2,451 | 64,172 | ||||||
| TKG Huchems Co. Ltd. | 8,933 | 151,493 | ||||||
| Tokai Carbon Korea Co. Ltd.(c) | 2,044 | 162,437 | ||||||
| Tongyang Life Insurance Co. Ltd.(a) | 22,803 | 64,443 | ||||||
| TY Holdings Co. Ltd./Korea | 11,907 | 92,991 | ||||||
| Unid Co. Ltd. | 1,568 | 71,597 | ||||||
| Vaxcell-Bio Therapeutics Co. Ltd.(a)(c) | 4,526 | 134,783 | ||||||
| Webzen Inc. | 12,118 | 136,160 | ||||||
| Wemade Co. Ltd.(c) | 7,155 | 255,450 | ||||||
| WONIK IPS Co. Ltd. | 11,973 | 289,887 | ||||||
| Wonik QnC Corp.(c) | 7,154 | 139,875 | ||||||
| Wysiwyg Studious Co. Ltd.(a)(c) | 44,032 | 119,424 | ||||||
| YG Entertainment Inc. | 4,830 | 341,389 | ||||||
| Young Poong Paper Manufacturing Co. Ltd. | 4,116 | 64,194 | ||||||
10
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| South Korea (continued) | ||||||||
| Youngone Corp. | 10,541 | $ | 357,040 | |||||
| Zinus Inc.(c) | 7,355 | 167,212 | ||||||
| 55,788,452 | ||||||||
| Taiwan — 21.8% | ||||||||
| AcBel Polytech Inc. | 146,000 | 213,205 | ||||||
| ADATA Technology Co. Ltd. | 91,000 | 263,906 | ||||||
| Adimmune Corp.(a) | 131,000 | 165,054 | ||||||
| Advanced Ceramic X Corp. | 18,000 | 122,262 | ||||||
| Advanced Energy Solution Holding Co. Ltd. | 11,000 | 253,127 | ||||||
| Advanced Wireless Semiconductor Co. | 73,596 | 198,161 | ||||||
| Alchip Technologies Ltd. | 27,000 | 1,446,188 | ||||||
| Andes Technology Corp. | 8,000 | 129,931 | ||||||
| AP Memory Technology Corp. | 44,000 | 484,747 | ||||||
| Arcadyan Technology Corp. | 73,541 | 276,552 | ||||||
| Ardentec Corp. | 155,000 | 292,877 | ||||||
| Asia Optical Co. Inc. | 117,000 | 248,897 | ||||||
| Asia Pacific Telecom Co. Ltd.(a) | 803,910 | 173,275 | ||||||
| Asia Vital Components Co. Ltd. | 140,533 | 899,820 | ||||||
| ASMedia Technology Inc. | 8,000 | 304,569 | ||||||
| ASPEED Technology Inc. | 11,800 | 1,101,612 | ||||||
| BES Engineering Corp. | 949,000 | 353,321 | ||||||
| Bizlink Holding Inc. | 55,143 | 495,090 | ||||||
| Bora Pharmaceuticals Co. Ltd. | 14,000 | 346,725 | ||||||
| Brighton-Best International Taiwan Inc. | 146,000 | 168,103 | ||||||
| Capital Securities Corp. | 730,530 | 329,938 | ||||||
| Career Technology MFG. Co. Ltd.(a) | 147,000 | 111,717 | ||||||
| Cathay Real Estate Development Co. Ltd. | 219,300 | 117,698 | ||||||
| Center Laboratories Inc. | 181,968 | 297,364 | ||||||
| Century Iron & Steel Industrial Co. Ltd. | 73,000 | 258,630 | ||||||
| Chang Wah Electromaterials Inc. | 146,000 | 174,412 | ||||||
| Chang Wah Technology Co. Ltd. | 179,500 | 246,343 | ||||||
| Charoen Pokphand Enterprise | 86,300 | 251,858 | ||||||
| Cheng Loong Corp. | 292,000 | 301,502 | ||||||
| Cheng Uei Precision Industry Co. Ltd. | 146,000 | 197,738 | ||||||
| Chicony Electronics Co. Ltd. | 219,000 | 755,053 | ||||||
| Chicony Power Technology Co. Ltd. | 49,000 | 133,768 | ||||||
| China General Plastics Corp. | 152,700 | 117,064 | ||||||
| China Man-Made Fiber Corp.(a) | 605,031 | 158,718 | ||||||
| China Motor Corp. | 73,200 | 228,084 | ||||||
| China Petrochemical Development Corp. | 1,473,145 | 469,099 | ||||||
| China Steel Chemical Corp. | 73,000 | 269,191 | ||||||
| Chin-Poon Industrial Co. Ltd. | 146,000 | 149,800 | ||||||
| Chipbond Technology Corp. | 201,000 | 437,753 | ||||||
| ChipMOS Technologies Inc. | 219,000 | 280,766 | ||||||
| Chong Hong Construction Co. Ltd. | 73,424 | 189,460 | ||||||
| Chroma ATE Inc. | 146,000 | 1,103,863 | ||||||
| Chung Hung Steel Corp. | 365,000 | 273,923 | ||||||
| Chung Hwa Pulp Corp. | 146,000 | 121,394 | ||||||
| Chung-Hsin Electric & Machinery Manufacturing Corp. | 146,000 | 542,788 | ||||||
| Cleanaway Co. Ltd. | 40,000 | 267,932 | ||||||
| Clevo Co. | 146,000 | 155,749 | ||||||
| Compeq Manufacturing Co. Ltd. | 402,000 | 575,263 | ||||||
| Coretronic Corp. | 146,400 | 357,635 | ||||||
| Co-Tech Development Corp. | 73,000 | 136,368 | ||||||
| CSBC Corp. Taiwan(a) | 292,548 | 229,520 | ||||||
| CTCI Corp. | 219,000 | 290,963 | ||||||
| Cub Elecparts Inc. | 33,397 | 190,217 | ||||||
| Darfon Electronics Corp. | 146,000 | 222,936 | ||||||
| Dynapack International Technology Corp. | 58,000 | 148,283 | ||||||
| EirGenix Inc.(a) | 73,000 | 268,343 | ||||||
| Security | Shares | Value | ||||||
| Taiwan (continued) | ||||||||
| Elan Microelectronics Corp. | 102,000 | $ | 338,064 | |||||
| Elite Material Co. Ltd. | 73,000 | 499,241 | ||||||
| Elite Semiconductor Microelectronics Technology Inc. | 97,000 | 277,953 | ||||||
| ENNOSTAR Inc. | 233,184 | 387,714 | ||||||
| Episil Technologies Inc. | 114,425 | 295,852 | ||||||
| Eternal Materials Co. Ltd. | 328,129 | 349,888 | ||||||
| Etron Technology Inc. | 99,342 | 145,913 | ||||||
| Evergreen International Storage & Transport Corp. | 219,000 | 194,690 | ||||||
| Everlight Electronics Co. Ltd. | 146,000 | 224,233 | ||||||
| Far Eastern Department Stores Ltd. | 511,000 | 402,917 | ||||||
| Far Eastern International Bank | 847,102 | 308,440 | ||||||
| Faraday Technology Corp. | 81,000 | 449,820 | ||||||
| Farglory Land Development Co. Ltd. | 105,000 | 214,118 | ||||||
| Feng Hsin Steel Co. Ltd. | 199,000 | 439,883 | ||||||
| Fitipower Integrated Technology Inc. | 73,512 | 378,865 | ||||||
| FLEXium Interconnect Inc. | 130,418 | 418,053 | ||||||
| FocalTech Systems Co. Ltd. | 73,000 | 201,936 | ||||||
| Formosa International Hotels Corp. | 27,000 | 251,255 | ||||||
| Formosa Sumco Technology Corp. | 29,000 | 156,030 | ||||||
| Formosa Taffeta Co. Ltd. | 281,000 | 254,972 | ||||||
| Fortune Electric Co. Ltd. | 73,000 | 344,480 | ||||||
| Foxconn Technology Co. Ltd. | 365,000 | 643,502 | ||||||
| Foxsemicon Integrated Technology Inc. | 51,200 | 325,572 | ||||||
| Fulgent Sun International Holding Co. Ltd. | 73,330 | 299,805 | ||||||
| Fusheng Precision Co. Ltd. | 54,000 | 368,503 | ||||||
| General Interface Solution Holding Ltd. | 92,000 | 219,781 | ||||||
| Genius Electronic Optical Co. Ltd. | 30,585 | 404,568 | ||||||
| Getac Holdings Corp. | 146,000 | 327,952 | ||||||
| Gigabyte Technology Co. Ltd. | 205,000 | 1,240,302 | ||||||
| Global Mixed Mode Technology Inc. | 24,000 | 149,851 | ||||||
| Gloria Material Technology Corp.(a) | 146,000 | 264,019 | ||||||
| Gold Circuit Electronics Ltd. | 151,600 | 599,637 | ||||||
| Goldsun Building Materials Co. Ltd. | 328,426 | 305,239 | ||||||
| Gourmet Master Co. Ltd. | 49,821 | 241,158 | ||||||
| Grand Pacific Petrochemical | 365,000 | 225,455 | ||||||
| Grape King Bio Ltd. | 62,000 | 353,947 | ||||||
| Great Tree Pharmacy Co. Ltd. | 13,000 | 149,314 | ||||||
| Great Wall Enterprise Co. Ltd. | 306,284 | 522,343 | ||||||
| Greatek Electronics Inc. | 76,000 | 141,986 | ||||||
| Hannstar Board Corp. | 146,481 | 200,657 | ||||||
| HannStar Display Corp.(a) | 876,320 | 351,622 | ||||||
| Highwealth Construction Corp. | 398,554 | 551,988 | ||||||
| Hiwin Technologies Corp. | 119,044 | 926,870 | ||||||
| Holtek Semiconductor Inc. | 73,000 | 166,717 | ||||||
| Holy Stone Enterprise Co. Ltd. | 62,050 | 210,844 | ||||||
| Hota Industrial Manufacturing Co. Ltd. | 73,773 | 172,760 | ||||||
| Hotai Finance Co. Ltd. | 73,000 | 308,550 | ||||||
| Hsin Kuang Steel Co. Ltd. | 143,000 | 222,490 | ||||||
| HTC Corp.(a) | 219,000 | 438,478 | ||||||
| Huaku Development Co. Ltd. | 102,080 | 299,197 | ||||||
| IBF Financial Holdings Co. Ltd. | 984,172 | 398,254 | ||||||
| Innodisk Corp. | 28,000 | 304,870 | ||||||
| International CSRC Investment Holdings Co. | 365,945 | 241,567 | ||||||
| International Games System Co. Ltd. | 52,000 | 958,136 | ||||||
| ITE Technology Inc. | 73,000 | 265,379 | ||||||
| ITEQ Corp. | 104,559 | 244,568 | ||||||
| Jentech Precision Industrial Co. Ltd. | 33,399 | 647,630 | ||||||
| Johnson Health Tech Co. Ltd. | 55,000 | 109,733 | ||||||
| Kaori Heat Treatment Co. Ltd. | 25,047 | 200,055 | ||||||
| Kenda Rubber Industrial Co. Ltd. | 226,675 | 227,035 | ||||||
11
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Taiwan (continued) | ||||||||
| Kindom Development Co. Ltd. | 159,400 | $ | 153,014 | |||||
| King Slide Works Co. Ltd. | 24,000 | 330,511 | ||||||
| King Yuan Electronics Co. Ltd. | 438,000 | 767,606 | ||||||
| King’s Town Bank Co. Ltd. | 292,000 | 341,588 | ||||||
| Kinpo Electronics | 511,000 | 226,533 | ||||||
| Kinsus Interconnect Technology Corp. | 116,000 | 438,369 | ||||||
| KMC Kuei Meng International Inc. | 27,000 | 128,503 | ||||||
| Lien Hwa Industrial Holdings Corp. | 382,301 | 773,777 | ||||||
| Longchen Paper & Packaging Co. Ltd. | 301,775 | 163,289 | ||||||
| Lotes Co. Ltd. | 31,181 | 880,460 | ||||||
| Lotus Pharmaceutical Co. Ltd. | 57,000 | 605,086 | ||||||
| Lung Yen Life Service Corp. | 51,000 | 62,198 | ||||||
| Macronix International Co. Ltd. | 657,000 | 710,880 | ||||||
| Makalot Industrial Co. Ltd. | 82,391 | 583,282 | ||||||
| Medigen Vaccine Biologics Corp.(a) | 96,071 | 193,984 | ||||||
| Mercuries & Associates Holding Ltd. | 147,924 | 72,139 | ||||||
| Mercuries Life Insurance Co. Ltd.(a) | 730,349 | 124,659 | ||||||
| Merida Industry Co. Ltd. | 87,000 | 549,457 | ||||||
| Merry Electronics Co. Ltd. | 74,616 | 217,092 | ||||||
| Microbio Co. Ltd. | 153,127 | 294,496 | ||||||
| Mitac Holdings Corp. | 317,383 | 329,704 | ||||||
| Nan Kang Rubber Tire Co. Ltd.(a) | 186,000 | 231,868 | ||||||
| Nantex Industry Co. Ltd. | 121,000 | 147,805 | ||||||
| Nuvoton Technology Corp. | 73,000 | 305,059 | ||||||
| OBI Pharma Inc.(a) | 80,769 | 225,583 | ||||||
| Oneness Biotech Co. Ltd.(a) | 89,000 | 666,577 | ||||||
| Oriental Union Chemical Corp. | 292,000 | 200,747 | ||||||
| Pan Jit International Inc. | 128,000 | 290,610 | ||||||
| Pan-International Industrial Corp. | 146,722 | 194,524 | ||||||
| PharmaEngine Inc. | 36,000 | 108,733 | ||||||
| Pharmally International Holding Co. Ltd.(d) | 21,603 | — | ||||||
| Phihong Technology Co. Ltd.(a) | 73,000 | 186,257 | ||||||
| Phison Electronics Corp. | 65,000 | 902,276 | ||||||
| Pixart Imaging Inc. | 73,635 | 263,150 | ||||||
| Polaris Group/Tw(a) | 73,000 | 218,596 | ||||||
| Powertech Technology Inc. | 219,000 | 710,418 | ||||||
| Poya International Co. Ltd. | 25,155 | 435,846 | ||||||
| President Securities Corp. | 378,623 | 209,721 | ||||||
| Primax Electronics Ltd. | 146,000 | 306,487 | ||||||
| Prince Housing & Development Corp. | 657,917 | 258,957 | ||||||
| Qisda Corp. | 584,000 | 799,316 | ||||||
| Radiant Opto-Electronics Corp. | 161,000 | 617,652 | ||||||
| Raydium Semiconductor Corp. | 20,000 | 227,419 | ||||||
| RichWave Technology Corp.(a) | 34,490 | 194,438 | ||||||
| Ruentex Industries Ltd. | 260,735 | 483,017 | ||||||
| Run Long Construction Co. Ltd. | 78,220 | 195,769 | ||||||
| Sanyang Motor Co. Ltd. | 219,820 | 568,703 | ||||||
| ScinoPharm Taiwan Ltd. | 146,708 | 124,179 | ||||||
| SDI Corp. | 58,000 | 232,170 | ||||||
| Sercomm Corp. | 105,000 | 325,442 | ||||||
| Shihlin Electric & Engineering Corp. | 73,000 | 353,983 | ||||||
| Shin Zu Shing Co. Ltd. | 73,856 | 224,073 | ||||||
| Shinkong Synthetic Fibers Corp. | 511,135 | 284,999 | ||||||
| Sigurd Microelectronics Corp. | 146,124 | 263,417 | ||||||
| Simplo Technology Co. Ltd. | 71,600 | 721,497 | ||||||
| Sinbon Electronics Co. Ltd. | 87,000 | 1,018,354 | ||||||
| Sincere Navigation Corp. | 161,000 | 108,538 | ||||||
| Sino-American Silicon Products Inc. | 201,000 | 1,037,470 | ||||||
| Sinyi Realty Inc. | 146,778 | 142,229 | ||||||
| Sitronix Technology Corp. | 47,000 | 342,782 | ||||||
| Security | Shares | Value | ||||||
| Taiwan (continued) | ||||||||
| Solar Applied Materials Technology Corp. | 219,943 | $ | 265,899 | |||||
| Sporton International Inc. | 26,000 | 204,142 | ||||||
| Standard Foods Corp. | 219,000 | 292,406 | ||||||
| Sunny Friend Environmental Technology Co. Ltd. | 33,000 | 167,380 | ||||||
| Sunplus Technology Co. Ltd. | 219,000 | 179,426 | ||||||
| Supreme Electronics Co. Ltd. | 164,705 | 247,624 | ||||||
| Synmosa Biopharma Corp. | 73,000 | 105,658 | ||||||
| Systex Corp. | 73,000 | 238,417 | ||||||
| TA Chen Stainless Pipe | 514,527 | 754,272 | ||||||
| Ta Ya Electric Wire & Cable | 292,060 | 295,002 | ||||||
| Taichung Commercial Bank Co. Ltd. | 1,258,994 | 599,662 | ||||||
| TaiMed Biologics Inc.(a) | 73,000 | 267,269 | ||||||
| Tainan Spinning Co. Ltd. | 438,190 | 230,551 | ||||||
| Taiwan Cogeneration Corp. | 235,656 | 386,928 | ||||||
| Taiwan Fertilizer Co. Ltd. | 219,000 | 431,677 | ||||||
| Taiwan Glass Industry Corp. | 470,000 | 280,146 | ||||||
| Taiwan Hon Chuan Enterprise Co. Ltd. | 122,004 | 412,241 | ||||||
| Taiwan Mask Corp. | 81,000 | 212,855 | ||||||
| Taiwan Paiho Ltd. | 119,050 | 211,960 | ||||||
| Taiwan Secom Co. Ltd. | 93,450 | 357,261 | ||||||
| Taiwan Semiconductor Co. Ltd. | 86,000 | 264,179 | ||||||
| Taiwan Shin Kong Security Co. Ltd. | 122,366 | 165,450 | ||||||
| Taiwan Surface Mounting Technology Corp. | 114,000 | 373,877 | ||||||
| Taiwan TEA Corp.(a) | 366,000 | 264,735 | ||||||
| Taiwan Union Technology Corp. | 146,000 | 355,901 | ||||||
| Taiwan-Asia Semiconductor Corp. | 146,000 | 174,614 | ||||||
| Tatung Co. Ltd.(a) | 584,000 | 803,300 | ||||||
| TCI Co. Ltd. | 37,528 | 215,554 | ||||||
| Teco Electric and Machinery Co. Ltd. | 438,000 | 729,170 | ||||||
| Test Research Inc. | 73,000 | 152,486 | ||||||
| Ton Yi Industrial Corp. | 292,000 | 182,084 | ||||||
| Tong Hsing Electronic Industries Ltd. | 62,676 | 372,541 | ||||||
| Tong Yang Industry Co. Ltd. | 146,133 | 234,770 | ||||||
| Topco Scientific Co. Ltd. | 59,000 | 383,040 | ||||||
| TPK Holding Co. Ltd. | 146,000 | 201,212 | ||||||
| Transcend Information Inc. | 73,000 | 182,737 | ||||||
| Tripod Technology Corp. | 146,000 | 610,034 | ||||||
| TSEC Corp.(a) | 165,931 | 192,909 | ||||||
| TSRC Corp. | 236,000 | 195,526 | ||||||
| TTY Biopharm Co. Ltd. | 100,450 | 247,259 | ||||||
| Tung Ho Steel Enterprise Corp. | 210,750 | 383,170 | ||||||
| TXC Corp. | 73,000 | 214,019 | ||||||
| U-Ming Marine Transport Corp. | 157,000 | 246,873 | ||||||
| Union Bank of Taiwan. | 757,974 | 410,658 | ||||||
| United Integrated Services Co. Ltd. | 73,400 | 545,565 | ||||||
| United Renewable Energy Co. Ltd.(a) | 522,059 | 341,777 | ||||||
| UPC Technology Corp. | 438,741 | 204,490 | ||||||
| UPI Semiconductor Corp.(a) | 18,000 | 177,322 | ||||||
| USI Corp. | 292,070 | 218,279 | ||||||
| Via Technologies Inc. | 81,000 | 211,738 | ||||||
| VisEra Technologies Co. Ltd. | 73,000 | 540,843 | ||||||
| Visual Photonics Epitaxy Co. Ltd. | 73,425 | 248,927 | ||||||
| Wafer Works Corp. | 228,918 | 333,954 | ||||||
| Waffer Technology Corp. | 73,000 | 295,777 | ||||||
| Wah Lee Industrial Corp. | 74,340 | 209,259 | ||||||
| Walsin Technology Corp. | 146,000 | 493,089 | ||||||
| Wisdom Marine Lines Co. Ltd. | 168,000 | 277,988 | ||||||
| Wistron NeWeb Corp. | 121,481 | 345,581 | ||||||
| WT Microelectronics Co. Ltd. | 146,757 | 314,302 | ||||||
| XinTec Inc. | 73,000 | 248,676 | ||||||
12
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Taiwan (continued) | ||||||||
| Xxentria Technology Materials Corp. | 111,000 | $ | 251,886 | |||||
| YFY Inc. | 438,000 | 451,164 | ||||||
| Yieh Phui Enterprise Co. Ltd. | 382,586 | 191,878 | ||||||
| Yulon Finance Corp. | 98,896 | 626,100 | ||||||
| Yulon Motor Co. Ltd. | 213,026 | 606,077 | ||||||
| YungShin Global Holding Corp. | 73,200 | 109,116 | ||||||
| 82,079,156 | ||||||||
| Thailand — 3.5% | ||||||||
| AEON Thana Sinsap Thailand PCL, NVDR(c) | 56,100 | 321,414 | ||||||
| Amata Corp. PCL, NVDR | 474,576 | 301,232 | ||||||
| AP Thailand PCL, NVDR. | 1,259,600 | 419,743 | ||||||
| Bangchak Corp. PCL, NVDR | 432,300 | 397,074 | ||||||
| Bangkok Chain Hospital PCL, NVDR(c) | 686,200 | 364,409 | ||||||
| Bangkok Commercial Asset Management PCL, NVDR(c) | 591,300 | 186,747 | ||||||
| Bangkok Land PCL, NVDR | 7,369,800 | 179,941 | ||||||
| Bangkok Life Assurance PCL, NVDR | 238,100 | 184,733 | ||||||
| Betagro PCL, NVDR | 240,900 | 190,366 | ||||||
| Central Plaza Hotel PCL, NVDR(a)(c) | 234,200 | 337,805 | ||||||
| CH Karnchang PCL, NVDR(c) | 624,300 | 344,436 | ||||||
| Chularat Hospital PCL, NVDR(c) | 2,817,800 | 265,156 | ||||||
| CK Power PCL, NVDR(c) | 1,334,100 | 127,205 | ||||||
| Dhipaya Group Holdings PCL, NVDR(c) | 144,100 | 180,062 | ||||||
| Ditto Thailand PCL, NVDR(c) | 89,400 | 85,337 | ||||||
| Eastern Polymer Group PCL, NVDR(c) | 585,900 | 117,847 | ||||||
| Erawan Group PCL (The), NVDR(a) | 1,520,300 | 180,806 | ||||||
| Esso Thailand PCL, NVDR(c) | 489,100 | 121,462 | ||||||
| GFPT PCL, NVDR | 275,900 | 97,358 | ||||||
| Gunkul Engineering PCL, NVDR(c) | 1,928,599 | 186,011 | ||||||
| Hana Microelectronics PCL, NVDR(c) | 244,800 | 309,209 | ||||||
| IRPC PCL, NVDR(c) | 3,514,500 | 224,004 | ||||||
| Jasmine International PCL, NVDR(a)(c) | 2,284,900 | 110,920 | ||||||
| Jay Mart PCL, NVDR(c) | 299,300 | 175,222 | ||||||
| JMT Network Services PCL, NVDR | 219,000 | 270,603 | ||||||
| KCE Electronics PCL, NVDR | 310,700 | 347,785 | ||||||
| Khon Kaen Sugar Industry PCL, NVDR | 1,293,130 | 127,655 | ||||||
| Kiatnakin Phatra Bank PCL, NVDR | 131,432 | 237,800 | ||||||
| Major Cineplex Group PCL, NVDR(c) | 327,700 | 145,871 | ||||||
| MBK PCL, NVDR | 548,500 | 254,953 | ||||||
| Mega Lifesciences PCL, NVDR | 189,800 | 212,429 | ||||||
| MK Restaurants Group PCL, NVDR | 94,900 | 141,083 | ||||||
| Ngern Tid Lor PCL, NVDR | 445,300 | 355,088 | ||||||
| Plan B Media PCL, NVDR | 1,197,280 | 309,431 | ||||||
| Pruksa Holding PCL, NVDR(c) | 365,000 | 130,013 | ||||||
| PTG Energy PCL, NVDR(c) | 436,800 | 150,479 | ||||||
| Quality Houses PCL, NVDR | 3,067,467 | 202,655 | ||||||
| Ramkhamhaeng Hospital PCL, NVDR | 174,800 | 233,341 | ||||||
| Sabuy Technology PCL, NVDR(c) | 408,800 | 140,846 | ||||||
| Sansiri PCL, NVDR | 6,928,400 | 346,263 | ||||||
| Sappe PCL, NVDR | 29,200 | 71,112 | ||||||
| Siam Global House PCL, NVDR | 1 | 1 | ||||||
| Siamgas & Petrochemicals PCL, NVDR | 460,000 | 112,316 | ||||||
| Sino-Thai Engineering & Construction PCL, NVDR | 566,228 | 151,919 | ||||||
| SISB PCL, NVDR | 65,700 | 75,045 | ||||||
| Sri Trang Agro-Industry PCL, NVDR | 408,880 | 223,082 | ||||||
| Star Petroleum Refining PCL, NVDR(c) | 759,200 | 179,750 | ||||||
| Supalai PCL, NVDR | 627,800 | 364,343 | ||||||
| Super Energy Corp. PCL, NVDR(c) | 8,263,600 | 137,641 | ||||||
| Thai Union Group PCL, NVDR | 868,700 | 366,951 | ||||||
| Thai Vegetable Oil PCL, NVDR(c) | 299,560 | 221,560 | ||||||
| Thanachart Capital PCL, NVDR | 153,300 | 227,881 | ||||||
| Security | Shares | Value | ||||||
| Thailand (continued) | ||||||||
| Thonburi Healthcare Group PCL, NVDR(c) | 149,400 | $ | 292,876 | |||||
| Thoresen Thai Agencies PCL, NVDR | 632,100 | 129,818 | ||||||
| Tipco Asphalt PCL, NVDR(c) | 410,000 | 214,425 | ||||||
| TOA Paint Thailand PCL, NVDR(c) | 316,700 | 302,384 | ||||||
| TPI Polene Power PCL, NVDR(c) | 1,816,100 | 171,173 | ||||||
| TTW PCL, NVDR(c) | 956,300 | 233,491 | ||||||
| VGI PCL, NVDR | 2,732,350 | 252,634 | ||||||
| WHA Corp. PCL, NVDR | 4,105,800 | 521,183 | ||||||
| 13,264,379 | ||||||||
| Turkey — 1.6% | ||||||||
| Aksa Akrilik Kimya Sanayii AS | 61,612 | 189,706 | ||||||
| Alarko Holding AS | 80,301 | 262,541 | ||||||
| Anadolu Efes Biracilik Ve Malt Sanayii AS | 91,177 | 256,237 | ||||||
| Cimsa Cimento Sanayi VE Ticaret AS | 23,579 | 122,915 | ||||||
| Dogan Sirketler Grubu Holding AS | 586,701 | 235,818 | ||||||
| Dogus Otomotiv Servis ve Ticaret AS | 20,148 | 138,841 | ||||||
| EGE Endustri VE Ticaret AS | 584 | 131,426 | ||||||
| Emlak Konut Gayrimenkul Yatirim Ortakligi AS | 1,000,100 | 342,914 | ||||||
| Enerjisa Enerji AS(b) | 119,501 | 178,461 | ||||||
| GEN Ilac VE Saglik Urunleri Sanayi VE Ticaret AS | 45,771 | 88,642 | ||||||
| Girisim Elektrik Taahhut Ticaret Ve Sanayi AS(a) | 42,998 | 124,202 | ||||||
| Hektas Ticaret TAS(a) | 1 | 1 | ||||||
| Is Gayrimenkul Yatirim Ortakligi AS(a) | 174,470 | 74,880 | ||||||
| Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D | 316,966 | 268,850 | ||||||
| Kimteks Poliuretan Sanayi VE Ticaret AS, NVS | 18,980 | 75,052 | ||||||
| Kizilbuk Gayrimenkul Yatirim Ortakligi AS, NVS(a) | 1 | — | ||||||
| Kontrolmatik Enerji Ve Muhendislik AS, NVS | 32,923 | 227,033 | ||||||
| Koza Anadolu Metal Madencilik Isletmeleri AS(a) | 86,359 | 188,276 | ||||||
| Mavi Giyim Sanayi Ve Ticaret AS, Class B(b) | 93,951 | 244,757 | ||||||
| Migros Ticaret AS | 41,285 | 343,428 | ||||||
| MLP Saglik Hizmetleri AS(a)(b) | 53,947 | 174,300 | ||||||
| Nuh Cimento Sanayi AS | 26,444 | 161,824 | ||||||
| ODAS Elektrik Uretim ve Sanayi Ticaret AS(a) | 382,012 | 121,952 | ||||||
| Otokar Otomotiv Ve Savunma Sanayi AS(a) | 22,265 | 179,305 | ||||||
| Oyak Cimento Fabrikalari AS(a) | 141,620 | 282,325 | ||||||
| Petkim Petrokimya Holding AS(a) | 461,652 | 311,927 | ||||||
| Qua Granite Hayal(a) | 26,134 | 105,862 | ||||||
| Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret AS | 119,866 | 179,305 | ||||||
| Selcuk Ecza Deposu Ticaret ve Sanayi AS | 57,013 | 92,158 | ||||||
| Smart Gunes Enerjisi Teknolojileri ArGE Uretim Sanayi ve Ticaret AS, NVS(a) | 28,658 | 105,790 | ||||||
| TAV Havalimanlari Holding AS(a) | 93,878 | 351,893 | ||||||
| Turk Traktor ve Ziraat Makineleri AS | 6,643 | 211,876 | ||||||
| Turkiye Sinai Kalkinma Bankasi AS(a) | 565,896 | 112,064 | ||||||
| Ulker Biskuvi Sanayi AS(a) | 72,124 | 117,558 | ||||||
| Vestel Elektronik Sanayi ve Ticaret AS(a) | 62,123 | 134,690 | ||||||
| Zorlu Enerji Elektrik Uretim AS(a) | 377,483 | 89,743 | ||||||
| 6,226,552 | ||||||||
| United Arab Emirates — 1.0% | ||||||||
| Agthia Group PJSC | 138,907 | 184,473 | ||||||
| Air Arabia PJSC | 906,441 | 557,741 | ||||||
| Ajman Bank PJSC(a) | 326,164 | 191,833 | ||||||
| Al Waha Capital PJSC | 528,687 | 168,263 | ||||||
| Al Yah Satellite Communications Co. | 382,958 | 266,917 | ||||||
| Amanat Holdings PJSC | 461,783 | 122,079 | ||||||
| Aramex PJSC | 299,530 | 238,127 | ||||||
| Dana Gas PJSC | 1,287,647 | 287,747 | ||||||
| Drake & Scull International PJSC(a)(d) | 241,185 | 1,215 | ||||||
| Dubai Financial Market PJSC | 553,267 | 218,109 | ||||||
13
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| United Arab Emirates (continued) | ||||||||
| Dubai Investments PJSC | 821,104 | $ | 491,497 | |||||
| Emirates Central Cooling Systems Corp. | 633,348 | 294,865 | ||||||
| National Central Cooling Co. PJSC | 268,932 | 213,801 | ||||||
| Ras Al Khaimah Ceramics | 212,146 | 150,173 | ||||||
| Sharjah Islamic Bank | 476,304 | 265,642 | ||||||
| Taaleem Holdings PSC, NVS(a) | 47,231 | 35,877 | ||||||
| 3,688,359 | ||||||||
| Total Common Stocks — 98.2% | ||||||||
| (Cost: $369,242,924) | 369,542,573 | |||||||
| Preferred Stocks | ||||||||
| Brazil — 0.8% | ||||||||
| Alpargatas SA, Preference Shares, NVS(a) | 83,293 | 171,403 | ||||||
| Azul SA, Preference Shares, NVS(a) | 104,317 | 346,469 | ||||||
| Banco ABC Brasil SA, Preference Shares, NVS | 35,857 | 117,608 | ||||||
| Banco do Estado do Rio Grande do Sul SA, Class B, Preference Shares, NVS | 76,470 | 187,508 | ||||||
| Banco Pan SA, Preference Shares, NVS | 126,071 | 162,270 | ||||||
| Bradespar SA, Preference Shares, NVS | 97,966 | 411,112 | ||||||
| Cia de Saneamento do Parana, Preference Shares, NVS | 140,963 | 112,530 | ||||||
| Gol Linhas Aereas Inteligentes SA, Preference Shares, NVS(a) | 72,562 | 118,999 | ||||||
| Marcopolo SA, Preference Shares, NVS | 213,087 | 194,048 | ||||||
| Metalurgica Gerdau SA, Preference Shares, NVS | 276,451 | 610,848 | ||||||
| Randon SA Implementos e Participacoes, Preference Shares, NVS | 76,650 | 162,568 | ||||||
| Unipar Carbocloro SA, Class B, Preference Shares, NVS | 20,504 | 276,402 | ||||||
| Usinas Siderurgicas de Minas Gerais SA Usiminas, Class A, Preference Shares, NVS | 150,964 | 208,891 | ||||||
| 3,080,656 | ||||||||
| Chile — 0.2% | ||||||||
| Embotelladora Andina SA, Class B, Preference Shares, NVS | 188,267 | 481,124 | ||||||
| Total Preferred Stocks — 1.0% | ||||||||
| (Cost: $3,108,989) | 3,561,780 | |||||||
| Rights | ||||||||
| Kuwait — 0.0% | ||||||||
| Kuwait International Bank KSCP, (Expires 06/20/23) | 170,083 | 11,005 | ||||||
| Security | Shares | Value | ||||||
| South Korea — 0.0% | ||||||||
| Intellian Technologies Inc., | ||||||||
| (Expires 07/13/23, Strike Price KRW 58,300.00) | 546 | $ | 3,949 | |||||
| Total Rights — 0.0% | ||||||||
| (Cost: $—) | 14,954 | |||||||
| Total Long-Term Investments — 99.2% | ||||||||
| (Cost: $372,351,913) | 373,119,307 | |||||||
| Short-Term Securities | ||||||||
| Money Market Funds — 6.6% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 5.29%(g)(h)(i) | 24,708,585 | 24,713,527 | ||||||
| Total Short-Term Securities — 6.6% | ||||||||
| (Cost: $24,708,509) | 24,713,527 | |||||||
| Total Investments — 105.8% | ||||||||
| (Cost: $397,060,422) | 397,832,834 | |||||||
| Liabilities in Excess of Other Assets — (5.8)% | (21,651,818 | ) | ||||||
| Net Assets — 100.0% | $ | 376,181,016 | ||||||
| (a) | Non-income producing security. |
| (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) | Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $153,244, representing less than 0.05% of its net assets as of period end, and an original cost of $200,469. |
| (f) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
| (g) | Affiliate of the Fund. |
| (h) | Annualized 7-day yield as of period end. |
| (i) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
14
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap 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 | $ | 25,516,997 | $ | — | $ | (797,597 | )(a) | $ | 221 | $ | (6,094 | ) | $ | 24,713,527 | 24,708,585 | $ | 797,562 | (b) | $ | — | |||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares(c) | 490,000 | — | (490,000 | )(a) | — | — | — | — | 16,475 | 1 | |||||||||||||||||||||||||
| $ | 221 | $ | (6,094 | ) | $ | 24,713,527 | $ | 814,037 | $ | 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. |
| (c) | As of period end, the entity is no longer held. |
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 | |||||||||||||||
| MSCI Emerging Markets Index | 47 | 06/16/23 | $ | 2,248 | $ | (36,465 | ) | ||||||||
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 | $ | 60,820,144 | $ | 307,989,812 | $ | 732,617 | $ | 369,542,573 | ||||||||
| Preferred Stocks | 3,561,780 | — | — | 3,561,780 | ||||||||||||
| Rights | 11,005 | 3,949 | — | 14,954 | ||||||||||||
| Short-Term Securities | ||||||||||||||||
| Money Market Funds | 24,713,527 | — | — | 24,713,527 | ||||||||||||
| $ | 89,106,456 | $ | 307,993,761 | $ | 732,617 | $ | 397,832,834 | |||||||||
15
| Consolidated Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Small-Cap ETF |
| May 31, 2023 |
Fair Value Hierarchy as of Period End (continued)
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Derivative Financial Instruments(a) | ||||||||||||||||
| Liabilities | ||||||||||||||||
| Equity Contracts | $ | (36,465 | ) | $ | — | $ | — | $ | (36,465 | ) | ||||||
| (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 | ||
| ADR | American Depositary Receipt | PJSC | Public Joint Stock Company |
| CPO | Certificates of Participation (Ordinary) | REIT | Real Estate Investment Trust |
| GDR | Global Depositary Receipt | ||
| NVDR | Non-Voting Depositary Receipt | ||
16