NPORT-EX 2 NPORT_2QN7_15604268_0523.htm

 

Schedule of Investments (unaudited) iShares® Emerging Markets Equity Factor ETF
May 31, 2023 (Formerly iShares® MSCI Emerging Markets Multifactor ETF)
  (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Brazil — 3.6%          
B3 SA - Brasil, Bolsa, Balcao   1,778,374   $4,669,139 
Banco do Brasil SA   198,502    1,745,838 
Centrais Eletricas Brasileiras SA   132,156    919,541 
Cia Energetica de Minas Gerais   105,560    356,423 
Cia. de Saneamento Basico do Estado de Sao Paulo   43,796    453,646 
Cia. Siderurgica Nacional SA   235,791    564,694 
CSN Mineracao SA   1,106,817    959,926 
Hypera SA   97,427    783,902 
JBS SA   429,635    1,422,717 
Neoenergia SA   251,101    797,853 
Petroleo Brasileiro SA   438,324    2,523,691 
Porto Seguro SA   74,162    349,519 
Raia Drogasil SA   61,112    341,259 
Sendas Distribuidora SA   101,885    215,888 
Suzano SA   101,553    896,368 
Tim SA   551,502    1,517,546 
Vale SA   493,450    6,206,423 
Vibra Energia SA   491,612    1,559,150 
WEG SA   260,704    1,932,682 
         28,216,205 
Cayman Islands — 0.2%          
Giant Biogene Holding Co. Ltd.(a)(b)(c)   205,400    860,451 
H World Group Ltd.(b)   112,800    416,814 
         1,277,265 
Chile — 0.4%          
Banco de Chile   6,399,379    647,044 
Banco Santander Chile   16,367,086    711,257 
Cencosud SA   644,897    1,218,131 
Empresas CMPC SA   93,559    159,973 
Empresas COPEC SA   46,203    333,686 
Quinenco SA   65,255    233,628 
         3,303,719 
China — 26.9%          
37 Interactive Entertainment Network Technology Group Co. Ltd., Class A   315,100    1,447,804 
3SBio Inc.(a)   101,000    102,308 
Agricultural Bank of China Ltd., Class H   1,413,000    532,479 
AIMA Technology Group Co. Ltd.   119,400    635,593 
Alibaba Group Holding Ltd.(b)   1,683,648    16,756,291 
Anhui Guangxin Agrochemical Co. Ltd.   82,300    319,184 
Anhui Gujing Distillery Co. Ltd., Class A   15,700    556,489 
Anhui Jinhe Industrial Co. Ltd.   38,800    124,206 
ANTA Sports Products Ltd.   183,800    1,878,564 
Autohome Inc., ADR   10,349    296,188 
AVIC Industry-Finance Holdings Co. Ltd., Class A   556,400    301,795 
Baidu Inc., Class A(b)   271,100    4,162,507 
Bank of Chengdu Co. Ltd., Class A   38,000    67,083 
Bank of China Ltd., Class H   13,178,000    5,158,625 
Bank of Communications Co. Ltd., Class H   1,691,000    1,090,272 
Beijing Tongrentang Co. Ltd., Class A   65,000    553,129 
Bosideng International Holdings Ltd.   3,924,000    1,629,170 
BYD Co. Ltd., Class A   8,300    296,646 
BYD Co. Ltd., Class H   90,000    2,717,773 
C&S Paper Co. Ltd., Class A   63,800    104,957 
Caida Securities Co. Ltd.   404,100    421,609 
China Coal Energy Co. Ltd.   298,400    342,152 
China Coal Energy Co. Ltd., Class H   1,185,000    895,961 
China Construction Bank Corp., Class H   14,157,000    9,055,958 
Security  Shares   Value 
         
China (continued)          
China Feihe Ltd.(a)   474,000   $275,677 
China Galaxy Securities Co. Ltd., Class H   2,545,500    1,372,010 
China Great Wall Securities Co. Ltd., Class A   76,600    90,983 
China Hongqiao Group Ltd.   581,500    412,681 
China International Capital Corp. Ltd., Class H(a)   741,200    1,355,855 
China Life Insurance Co. Ltd., Class H   1,069,000    1,805,585 
China Longyuan Power Group Corp. Ltd., Class H   379,000    425,427 
China Medical System Holdings Ltd.   583,000    820,794 
China Merchants Bank Co. Ltd., Class H   882,500    4,103,758 
China Merchants Securities Co. Ltd., Class H(a)   596,800    567,059 
China National Building Material Co. Ltd., Class H   1,118,000    632,732 
China National Software & Service Co. Ltd., Class A   93,400    796,535 
China Overseas Property Holdings Ltd.   640,000    587,249 
China Pacific Insurance Group Co. Ltd., Class H   51,400    130,103 
China Petroleum & Chemical Corp., Class A   509,700    455,321 
China Petroleum & Chemical Corp., Class H   3,364,000    2,118,352 
China Railway Group Ltd., Class H   523,000    344,623 
China Resources Beer Holdings Co. Ltd.   290,000    1,830,642 
China Resources Double Crane Pharmaceutical Co. Ltd., Class A   97,300    255,127 
China Resources Land Ltd.   284,000    1,062,999 
China Resources Mixc Lifestyle Services Ltd.(a)   62,600    285,009 
China Resources Pharmaceutical Group Ltd.(a)   1,453,500    1,395,437 
China Resources Power Holdings Co. Ltd.   498,000    1,149,801 
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A   131,600    1,207,786 
China Shenhua Energy Co. Ltd., Class A   250,000    991,615 
China Shenhua Energy Co. Ltd., Class H   431,500    1,364,107 
China World Trade Center Co. Ltd.   58,100    155,655 
China Yongda Automobiles Services Holdings Ltd.   860,500    454,095 
Chongqing Changan Automobile Co. Ltd., Class A   290,300    488,308 
Chongqing Hongjiu Fruit Co. Ltd.(b)(c)   173,400    426,536 
Chongqing Rural Commercial Bank Co. Ltd., Class H   1,020,000    351,732 
Chow Tai Fook Jewellery Group Ltd.   576,200    1,019,904 
CMOC Group Ltd., Class H   678,000    354,547 
COFCO Capital Holdings Co. Ltd.   185,800    209,889 
COSCO SHIPPING Holdings Co. Ltd., Class H   736,000    648,545 
Country Garden Holdings Co. Ltd.(c)   593,000    109,274 
Country Garden Services Holdings Co. Ltd.   273,000    318,245 
CSC Financial Co. Ltd., Class A   220,700    786,923 
CSC Financial Co. Ltd., Class H(a)   905,500    991,838 
Daan Gene Co. Ltd., Class A   100,710    173,001 
Daqo New Energy Corp., ADR(b)(c)   13,825    497,009 
DaShenLin Pharmaceutical Group Co. Ltd., Class A   117,000    535,037 
Dongyue Group Ltd.   408,000    356,808 
Eastern Air Logistics Co. Ltd.   172,600    326,953 
Ecovacs Robotics Co. Ltd., Class A   78,700    765,577 
Focus Media Information Technology Co. Ltd., Class A   494,800    446,795 
G-Bits Network Technology Xiamen Co. Ltd., Class A   10,600    833,836 
GCL-Poly Energy Holdings Ltd.(b)   743,000    161,351 
GD Power Development Co. Ltd., Class A(b)   2,358,800    1,351,691 
GF Securities Co. Ltd., Class H   583,200    810,997 
Great Wall Motor Co. Ltd., Class H   498,000    511,852 
Greentown China Holdings Ltd.   299,000    280,963 
Guangdong Zhongsheng Pharmaceutical Co. Ltd.   118,300    314,979 
Guosheng Financial Holding Inc.(b)   124,400    140,695 
Haidilao International Holding Ltd.(a)(b)   55,000    115,847 
Hainan Haide Capital Management Co. Ltd.   109,200    304,682 
Hangzhou Binjiang Real Estate Group Co. Ltd., Class A   422,700    501,441 
Hangzhou Robam Appliances Co. Ltd., Class A   19,900    65,327 

 

1

 

 

Schedule of Investments (unaudited) (continued) iShares® Emerging Markets Equity Factor ETF
May 31, 2023 (Formerly iShares® MSCI Emerging Markets Multifactor ETF)
  (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
China (continued)          
Heilongjiang Agriculture Co. Ltd., Class A   247,300   $464,490 
Hengdian Group DMEGC Magnetics Co. Ltd.   119,900    305,526 
Hisense Home Appliances Group Co. Ltd.   126,000    419,979 
Holly Futures Co. Ltd.   57,600    124,309 
Hopson Development Holdings Ltd.   958,100    810,743 
Huatai Securities Co. Ltd., Class H(a)   245,200    306,748 
Huizhou Desay Sv Automotive Co. Ltd., Class A   5,000    79,869 
Hundsun Technologies Inc., Class A   66,000    393,711 
Industrial & Commercial Bank of China Ltd., Class H   12,128,000    6,476,839 
Inner Mongolia Dazhong Mining Co. Ltd.   100,000    160,118 
Inner Mongolia Eerduosi Resources Co. Ltd., Class B   86,440    149,326 
JD Health International Inc.(a)(b)   207,950    1,282,660 
JD.com Inc., Class A   300,700    4,898,884 
Jiangsu Expressway Co. Ltd., Class H   378,000    365,721 
Jiangsu King’s Luck Brewery JSC Ltd., Class A   130,600    1,022,643 
Jiangxi Copper Co. Ltd., Class H   194,000    292,301 
Jiangxi Special Electric Motor Co. Ltd., Class A, NVS(b)   35,300    57,737 
Jinhui Liquor Co. Ltd.   70,900    236,173 
Jinneng Holding Shanxi Coal Industry Co. Ltd.   240,200    309,858 
JiuGui Liquor Co. Ltd., Class A   30,200    403,061 
Jizhong Energy Resources Co. Ltd.   463,700    473,673 
Joincare Pharmaceutical Group Industry Co. Ltd., Class A   251,000    484,072 
Joyoung Co. Ltd., Class A   107,200    216,357 
Kanzhun Ltd., ADR(b)   41,454    574,967 
KE Holdings Inc., ADR(b)(c)   36,053    513,395 
Kehua Data Co. Ltd.   16,600    87,912 
Kingboard Holdings Ltd.   305,000    821,800 
Kingboard Laminates Holdings Ltd.   1,804,500    1,651,398 
KingClean Electric Co. Ltd.   56,300    193,329 
Kingnet Network Co. Ltd.(b)   298,200    777,821 
Koolearn Technology Holding Ltd.(a)(b)   76,500    284,444 
Kuaishou Technology(a)(b)   294,500    1,998,417 
Kunlun Energy Co. Ltd.   710,000    566,328 
Kweichow Moutai Co. Ltd., Class A   6,300    1,443,823 
Legend Holdings Corp., Class H(a)   225,700    217,824 
Lenovo Group Ltd.(c)   1,214,000    1,141,232 
Li Auto Inc., Class A(b)   127,900    1,855,873 
Li Ning Co. Ltd.   350,000    1,880,557 
Longfor Group Holdings Ltd.(a)   51,500    99,177 
Lufax Holding Ltd., ADR.   155,252    198,723 
Meihua Holdings Group Co. Ltd.   424,800    533,493 
Meituan, Class B(a)(b)   583,020    8,186,345 
Metallurgical Corp. of China Ltd., Class H   4,221,000    1,034,890 
MMG Ltd.(b)   1,168,000    350,843 
NetEase Inc.   265,000    4,507,343 
New Oriental Education & Technology Group Inc.(b)   69,900    264,350 
Newland Digital Technology Co. Ltd., Class A   143,600    375,462 
Nongfu Spring Co. Ltd., Class H(a)   372,800    1,998,799 
Northeast Securities Co. Ltd., Class A   324,500    326,042 
Orient Overseas International Ltd.   119,000    1,449,770 
Orient Securities Co. Ltd.(a)   1,949,600    1,041,159 
People.cn Co. Ltd.   78,900    212,846 
People’s Insurance Co. Group of China Ltd. (The), Class H   1,836,000    694,214 
Perfect World Co. Ltd., Class A   269,900    696,593 
PetroChina Co. Ltd., Class A   2,889,400    3,043,595 
PetroChina Co. Ltd., Class H   518,000    334,830 
PICC Property & Casualty Co. Ltd., Class H   393,000    468,814 
Pinduoduo Inc., ADR(b)   71,124    4,645,820 
Ping An Insurance Group Co. of China Ltd., Class H   868,500    5,511,662 
Security  Shares   Value 
         
China (continued)          
Pingdingshan Tianan Coal Mining Co. Ltd.   45,100   $50,594 
Postal Savings Bank of China Co. Ltd., Class H(a)   3,706,000    2,328,510 
Qifu Technology Inc.   72,086    991,182 
Radiance Holdings Group Co. Ltd.(b)(c)   365,000    166,408 
Sanquan Food Co. Ltd., Class A   122,100    268,211 
Shaanxi Coal Industry Co. Ltd., Class A   166,300    391,677 
Shan Xi Hua Yang Group New Energy Co. Ltd., Class A   34,600    60,669 
Shandong Buchang Pharmaceuticals Co. Ltd., Class A   154,029    491,035 
Shandong Jinjing Science & Technology Co. Ltd.   60,100    65,402 
Shandong Weigao Group Medical Polymer Co. Ltd., Class H   472,400    697,527 
Shanghai Baosight Software Co. Ltd., Class B   690,190    2,294,682 
Shanghai Flyco Electrical Appliance Co. Ltd.   20,200    187,575 
Shanghai International Port Group Co. Ltd., Class A   216,481    160,266 
Shanghai M&G Stationery Inc., Class A   10,700    63,915 
Shanghai Wanye Enterprises Co. Ltd.   84,500    225,044 
Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A   215,900    567,373 
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A   9,400    277,528 
Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A   80,400    396,154 
Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A   169,860    685,301 
Sino Biopharmaceutical Ltd.   1,583,000    754,642 
Sinopec Shanghai Petrochemical Co. Ltd., Class H(c)   4,764,000    736,588 
Sinosoft Co. Ltd.   32,700    177,444 
Sinotrans Ltd., Class H   1,631,000    539,445 
Sinotruk Hong Kong Ltd.   901,000    1,276,411 
Skshu Paint Co. Ltd., Class A(b)   4,800    60,303 
STO Express Co. Ltd., Class A(b)   206,300    290,153 
Sun Art Retail Group Ltd.   797,000    195,417 
Taiji Computer Corp. Ltd.   79,300    435,562 
TAL Education Group, ADR(b)(c)   95,416    518,109 
Tencent Holdings Ltd.   672,100    26,597,896 
Tingyi Cayman Islands Holding Corp.   1,372,000    2,055,234 
Topsports International Holdings Ltd.(a)   588,000    456,892 
Trip.com Group Ltd.(b)   56,700    1,805,832 
Tsingtao Brewery Co. Ltd., Class H   94,000    809,295 
Uni-President China Holdings Ltd.   631,000    548,386 
Vipshop Holdings Ltd., ADR(b)(c)   45,194    647,178 
Want Want China Holdings Ltd.   2,295,000    1,536,102 
Weichai Power Co. Ltd., Class H   491,000    666,642 
XPeng Inc.(b)   44,400    175,969 
Yankuang Energy Group Co. Ltd., Class A   84,500    322,028 
Yankuang Energy Group Co. Ltd., Class H   464,000    1,176,461 
Yifeng Pharmacy Chain Co. Ltd., Class A   18,700    130,324 
Yixintang Pharmaceutical Group Co. Ltd., Class A   80,200    304,812 
Yongan Futures Co. Ltd.   89,300    212,862 
Zangge Mining Co. Ltd., Class A   33,700    108,795 
Zhongshan Broad Ocean Motor Co. Ltd.   330,500    245,391 
Zijin Mining Group Co. Ltd., Class H   486,000    661,035 
ZTE Corp., Class H   60,200    184,842 
         213,812,133 
Colombia — 0.1%          
Grupo Energia Bogota SA ESP   481,273    191,428 
Interconexion Electrica SA ESP   233,635    924,039 
         1,115,467 
Czech Republic — 0.4%          
CEZ AS   20,163    907,095 
Komercni Banka AS   83,699    2,495,233 
         3,402,328 

 

2

 

 

Schedule of Investments (unaudited) (continued) iShares® Emerging Markets Equity Factor ETF
May 31, 2023 (Formerly iShares® MSCI Emerging Markets Multifactor ETF)
  (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Egypt — 0.2%          
Eastern Co. SAE   2,253,732   $1,390,341 
           
Greece — 0.5%          
Hellenic Telecommunications Organization SA   102,647    1,572,332 
JUMBO SA   7,178    166,583 
National Bank of Greece SA(b)   140,669    872,819 
OPAP SA   88,895    1,517,900 
         4,129,634 
Hong Kong — 0.4%          
BOC Hong Kong Holdings Ltd.   1,000,000    2,967,652 
Simcere Pharmaceutical Group Ltd.(a)   274,000    265,196 
         3,232,848 
Hungary — 0.2%          
MOL Hungarian Oil & Gas PLC   106,256    865,089 
OTP Bank Nyrt   21,208    661,192 
Richter Gedeon Nyrt   4,398    110,971 
         1,637,252 
India — 18.0%          
3M India Ltd.   4,074    1,238,077 
ABB India Ltd.   40,366    2,011,409 
ACC Ltd.   38,597    828,373 
Adani Enterprises Ltd.   77,977    2,347,155 
Adani Ports & Special Economic Zone Ltd.   21,838    194,733 
AIA Engineering Ltd.   10,781    399,268 
Ambuja Cements Ltd.(b)   213,365    1,090,413 
Apollo Hospitals Enterprise Ltd.   18,133    1,011,960 
Asian Paints Ltd.   55,250    2,128,645 
Bajaj Auto Ltd.   26,202    1,444,816 
Bajaj Finance Ltd.   27,566    2,324,757 
Bajaj Holdings & Investment Ltd.   6,085    533,960 
Bharat Electronics Ltd.   1,767,023    2,392,969 
Bharti Airtel Ltd.   222,843    2,287,381 
Britannia Industries Ltd.   2,765    155,591 
Cholamandalam Investment and Finance Co. Ltd.   18,976    240,757 
Coal India Ltd.   471,756    1,374,037 
Colgate-Palmolive India Ltd.   36,158    694,972 
CRISIL Ltd.   28,871    1,324,660 
Cummins India Ltd.   10,508    223,220 
DLF Ltd.   18,244    104,575 
Dr. Reddy’s Laboratories Ltd.   11,851    645,917 
Emami Ltd.   186,708    883,276 
GAIL India Ltd.   499,770    632,649 
General Insurance Corp. of India(a)   60,982    135,805 
GlaxoSmithKline Pharmaceuticals Ltd.   33,517    528,945 
Godrej Properties Ltd.(b)   27,382    459,559 
Gujarat Fluorochemicals Ltd.   29,060    1,196,375 
Havells India Ltd.   124,852    1,971,069 
HCL Technologies Ltd.   182,279    2,518,228 
HDFC Bank Ltd.   426,073    8,273,551 
Hero MotoCorp Ltd.   52,053    1,734,626 
Hindalco Industries Ltd.   339,888    1,664,170 
Hindustan Aeronautics Ltd.   30,435    1,145,432 
Hindustan Petroleum Corp. Ltd.   249,883    787,605 
Housing Development Finance Corp. Ltd.   229,413    7,310,421 
ICICI Bank Ltd.   605,308    6,922,088 
ICICI Lombard General Insurance Co. Ltd.(a)   17,121    244,246 
Indian Oil Corp. Ltd.   537,500    584,371 
Indian Railway Finance Corp. Ltd.(a)   2,387,127    928,249 
Indraprastha Gas Ltd.   148,006    858,659 
Indus Towers Ltd.   327,576    608,031 
Security  Shares   Value 
         
India (continued)          
Info Edge India Ltd.   6,624   $325,545 
Infosys Ltd.   634,025    10,079,114 
InterGlobe Aviation Ltd.(a)(b)   33,582    962,704 
Jindal Steel & Power Ltd.   20,049    125,246 
JSW Energy Ltd.   116,887    358,397 
JSW Steel Ltd.   11,663    98,078 
Kotak Mahindra Bank Ltd.   84,268    2,047,024 
L&T Technology Services Ltd.(a)   20,153    949,083 
Larsen & Toubro Infotech Ltd.(a)   5,992    361,077 
Larsen & Toubro Ltd.   90,236    2,401,597 
Life Insurance Corp. of India   43,663    313,809 
Macrotech Developers Ltd.(b)   12,231    80,513 
Macrotech Developers Ltd., NVS   12,231    80,639 
Mahindra & Mahindra Ltd.   78,805    1,254,819 
Marico Ltd.   44,863    294,189 
Max Healthcare Institute Ltd.(b)   81,992    543,771 
Mphasis Ltd.   51,500    1,209,394 
Muthoot Finance Ltd.   86,396    1,163,749 
Nestle India Ltd.   7,866    2,059,582 
NHPC Ltd., NVS   6,289,483    3,297,009 
NMDC Ltd.   303,229    391,129 
NTPC Ltd.   85,913    180,172 
Oil & Natural Gas Corp. Ltd.   340,650    637,016 
Oil India Ltd.   113,475    352,557 
Oracle Financial Services Software Ltd.   8,851    388,321 
Page Industries Ltd.   1,709    800,241 
Persistent Systems Ltd.   15,286    946,886 
Pidilite Industries Ltd.   4,181    131,675 
Polycab India Ltd.   3,845    158,936 
Power Finance Corp. Ltd.   1,723,331    3,794,448 
Power Grid Corp. of India Ltd.   480,792    1,357,785 
REC Ltd.   1,498,029    2,560,423 
Reliance Industries Ltd.   306,232    9,130,263 
SBI Cards & Payment Services Ltd.   62,656    693,772 
SBI Life Insurance Co. Ltd.(a)   46,586    694,441 
Schaeffler India Ltd.   6,733    241,203 
Solar Industries India Ltd.   3,953    179,085 
SRF Ltd.   28,974    881,199 
Sun Pharmaceutical Industries Ltd.   44,887    529,253 
Supreme Industries Ltd.   42,040    1,402,662 
Tata Consultancy Services Ltd.   222,717    8,841,646 
Tata Elxsi Ltd.   13,470    1,206,339 
Tata Motors Ltd., Class A(b)   498,969    1,636,554 
Tata Steel Ltd.   1,403,355    1,793,299 
Tech Mahindra Ltd.   100,704    1,355,144 
Tube Investments of India Ltd.   81,962    2,833,976 
Union Bank of India   227,917    195,459 
Varun Beverages Ltd.   34,355    702,808 
Vedant Fashions Ltd.   94,487    1,467,953 
Vedanta Ltd.   29,457    98,944 
Wipro Ltd.   718,810    3,509,002 
WNS Holdings Ltd.(b)(c)   22,825    1,773,502 
         143,256,432 
Indonesia — 2.3%          
Adaro Energy Indonesia Tbk PT   4,250,100    577,545 
Aneka Tambang Tbk   638,200    80,615 
Avia Avian Tbk PT   2,125,000    97,106 
Bank Central Asia Tbk PT   8,431,100    5,087,556 
Bank Mandiri Persero Tbk PT   3,496,000    1,179,698 
Bank Negara Indonesia Persero Tbk PT   867,200    523,109 

 

3

 

 

Schedule of Investments (unaudited) (continued) iShares® Emerging Markets Equity Factor ETF
May 31, 2023 (Formerly iShares® MSCI Emerging Markets Multifactor ETF)
  (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Indonesia (continued)          
Bank Pan Indonesia Tbk PT   4,053,200   $293,377 
Bank Rakyat Indonesia Persero Tbk PT   7,008,400    2,604,238 
Bukit Asam Tbk PT   2,074,400    423,166 
Cisarua Mountain Dairy PT TBK   1,655,800    478,293 
GoTo Gojek Tokopedia Tbk PT(b)   48,707,300    476,830 
Hanjaya Mandala Sampoerna Tbk PT   16,727,200    1,093,573 
Indo Tambangraya Megah Tbk PT   716,600    1,056,562 
Kalbe Farma Tbk PT   1,021,100    138,289 
Perusahaan Gas Negara Tbk PT   1,606,900    153,118 
Saratoga Investama Sedaya Tbk PT, NVS   3,470,800    358,706 
Sumber Alfaria Trijaya Tbk PT   11,060,000    1,947,060 
Telkom Indonesia Persero Tbk PT   3,988,100    1,076,729 
United Tractors Tbk PT   149,900    222,566 
         17,868,136 
Kuwait — 0.4%          
Gulf Bank KSCP   1,420,801    1,181,840 
National Bank of Kuwait SAKP   613,418    1,834,265 
         3,016,105 
Malaysia — 0.8%          
Axiata Group Bhd   369,700    222,507 
Fraser & Neave Holdings Bhd   85,000    465,785 
Genting Bhd   467,900    425,429 
Hong Leong Bank Bhd   245,900    1,031,621 
Hong Leong Financial Group Bhd   148,500    557,257 
Malaysia Airports Holdings Bhd   68,700    102,826 
Petronas Chemicals Group Bhd   91,500    129,885 
Petronas Dagangan Bhd   61,900    283,247 
Petronas Gas Bhd   129,000    467,871 
Public Bank Bhd   1,486,700    1,226,837 
Sime Darby Bhd   1,214,900    544,353 
Telekom Malaysia Bhd   181,800    200,643 
Westports Holdings Bhd(c)   659,100    539,590 
         6,197,851 
Mexico — 2.7%          
America Movil SAB de CV, Series B, NVS   5,432,959    5,798,760 
Banco del Bajio SA(a)   623,802    1,954,032 
Cemex SAB de CV(b)(c)   176,123    1,056,738 
Coca-Cola Femsa SAB de CV   39,500    324,436 
Fomento Economico Mexicano SAB de CV   227,500    2,290,819 
Gruma SAB de CV, Class B   94,055    1,445,626 
Grupo Aeroportuario del Pacifico SAB de CV, Class B   159,554    2,822,975 
Grupo Comercial Chedraui SA de CV   106,792    553,249 
Grupo Financiero Banorte SAB de CV, Class O   199,200    1,596,731 
Grupo Mexico SAB de CV, Series B   154,800    687,057 
Wal-Mart de Mexico SAB de CV   739,309    2,809,449 
         21,339,872 
Philippines — 0.8%          
Bank of the Philippine Islands   1,014,718    1,805,867 
BDO Unibank Inc.   198,270    480,410 
DMCI Holdings Inc.   3,720,900    626,959 
International Container Terminal Services Inc.   43,740    151,888 
Manila Electric Co.   230,950    1,343,529 
Metropolitan Bank & Trust Co.   126,400    129,697 
PLDT Inc.   47,700    1,017,714 
Semirara Mining & Power Corp.   1,690,500    842,405 
         6,398,469 
Poland — 0.7%          
Bank Millennium SA(b)   169,679    178,652 
Bank Polska Kasa Opieki SA   17,234    392,311 
Security  Shares   Value 
         
Poland (continued)          
CD Projekt SA   9,223   $264,198 
KGHM Polska Miedz SA   32,575    807,643 
LPP SA   676    1,919,208 
mBank SA(b)   3,780    315,289 
Orange Polska SA   744,011    1,269,601 
PGE Polska Grupa Energetyczna SA(b)   219,597    348,326 
Powszechna Kasa Oszczednosci Bank Polski SA   41,724    316,665 
         5,811,893 
Qatar — 1.1%          
Ezdan Holding Group QSC(b)   672,617    213,459 
Industries Qatar QSC   823,713    2,708,930 
Mesaieed Petrochemical Holding Co.   2,013,957    1,087,580 
Ooredoo QPSC   686,289    1,998,772 
Qatar Gas Transport Co. Ltd.   156,213    169,352 
Qatar Islamic Bank SAQ   41,077    197,429 
Qatar National Bank QPSC   467,289    2,052,243 
         8,427,765 
Russia — 0.0%          
Inter RAO UES PJSC(d)   41,455,000    5,083 
PhosAgro PJSC(d)   51,000    6 
PhosAgro PJSC, New(d)   986    10 
TCS Group Holding PLC, GDR(b)(d)(e)   135,475    17 
United Co. RUSAL International PJSC(b)(d)   3,441,260    422 
         5,538 
Saudi Arabia — 2.8%          
Al Rajhi Bank   154,633    2,913,230 
Alinma Bank   95,954    834,659 
Arab National Bank   102,643    695,934 
Arabian Drilling Co.(b)   7,171    283,720 
Bank AlBilad   77,267    766,301 
Banque Saudi Fransi   63,690    675,801 
Dr Sulaiman Al Habib Medical Services Group Co.   49,459    3,521,585 
Elm Co.   16,927    2,024,737 
Etihad Etisalat Co.   50,181    575,179 
Nahdi Medical Co.   51,334    2,328,839 
Riyad Bank   231,235    2,018,521 
SABIC Agri-Nutrients Co.   60,110    2,000,415 
Sahara International Petrochemical Co.   63,881    605,113 
Saudi Arabian Mining Co.(b)   59,003    976,771 
Saudi Electricity Co.   71,345    410,432 
Saudi National Bank (The)   32,336    318,029 
Saudi Tadawul Group Holding Co.   22,195    947,651 
         21,896,917 
South Africa — 2.1%          
Anglo American Platinum Ltd.   32,747    1,883,819 
Bidvest Group Ltd. (The)   51,558    621,821 
Capitec Bank Holdings Ltd.   2,770    189,642 
Clicks Group Ltd.   61,989    737,188 
Exxaro Resources Ltd.   73,669    598,430 
FirstRand Ltd.   30,788    94,415 
Foschini Group Ltd. (The)   26,852    114,176 
Gold Fields Ltd.   51,493    780,710 
Impala Platinum Holdings Ltd.   152,234    1,222,289 
MTN Group Ltd.   348,062    2,152,932 
MultiChoice Group   326,715    1,625,063 
Naspers Ltd., Class N   8,724    1,316,045 
Nedbank Group Ltd.   17,165    181,210 
Northam Platinum Holdings Ltd.(b)   48,978    403,175 
Sasol Ltd.   62,352    729,079 

 

4

 

 

Schedule of Investments (unaudited) (continued) iShares® Emerging Markets Equity Factor ETF
May 31, 2023 (Formerly iShares® MSCI Emerging Markets Multifactor ETF)
  (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
South Africa (continued)          
Sibanye Stillwater Ltd.   229,124   $404,833 
Standard Bank Group Ltd.   181,446    1,395,226 
Thungela Resources Ltd.   174,708    1,212,732 
Woolworths Holdings Ltd.   428,716    1,295,016 
         16,957,801 
South Korea — 12.7%          
Celltrion Healthcare Co. Ltd.   5,266    293,155 
Celltrion Inc.   10,134    1,305,857 
CJ CheilJedang Corp.   314    73,291 
CJ Corp.   9,087    606,176 
Coway Co. Ltd.(c)   40,456    1,467,486 
Daewoo Engineering & Construction Co. Ltd.(b)   24,502    79,161 
DB HiTek Co. Ltd.(c)   31,986    1,450,700 
DB Insurance Co. Ltd.   19,018    1,061,556 
DL Holdings Co. Ltd.(c)   25,820    889,931 
Doosan Bobcat Inc.   18,782    755,544 
Ecopro BM Co. Ltd.   1,969    367,836 
E-MART Inc.   8,259    524,445 
F&F Co. Ltd./New(c)   3,769    367,028 
Hana Financial Group Inc.   102,561    3,199,382 
Hanmi Science Co. Ltd.(c)   8,978    244,079 
Hanwha Aerospace Co. Ltd.   3,635    290,032 
HD Hyundai Heavy Industries Co. Ltd.(b)   1,339    117,034 
HMM Co. Ltd.   21,510    287,311 
Hyosung TNC Corp.   943    270,105 
Hyundai Engineering & Construction Co. Ltd.   6,210    178,924 
Hyundai Glovis Co. Ltd.   4,215    536,245 
Hyundai Mobis Co. Ltd.   1,743    292,600 
Hyundai Motor Co.   18,913    2,845,957 
KB Financial Group Inc.   104,127    3,754,934 
KCC Corp.   3,833    601,444 
KEPCO Engineering & Construction Co. Inc.   2,272    114,076 
Kia Corp.   51,158    3,305,097 
Korea Electric Power Corp.(b)   32,791    471,707 
Korea Investment Holdings Co. Ltd.   29,605    1,235,433 
Krafton Inc.(b)   1,077    153,343 
KT Corp.   36,114    858,596 
KT&G Corp.   20,822    1,311,506 
LG Chem Ltd.   4,526    2,358,811 
LG Display Co. Ltd.(b)   40,768    482,987 
LG Electronics Inc.   18,774    1,734,874 
LG Energy Solution(b)   2,306    1,039,147 
LG H&H Co. Ltd.   1,183    469,114 
LG Innotek Co. Ltd.   5,101    1,177,790 
LG Uplus Corp.   107,315    908,628 
Meritz Financial Group Inc.   39,678    1,345,321 
NAVER Corp.   10,425    1,564,889 
NCSoft Corp.   3,696    893,460 
Orion Corp./Republic of Korea   9,815    955,061 
Pearl Abyss Corp.(b)   16,300    612,493 
POSCO Holdings Inc.   12,546    3,399,563 
Samsung Biologics Co. Ltd.(a)(b)   1,836    1,083,436 
Samsung C&T Corp.   1,118    93,126 
Samsung Card Co. Ltd.(c)   32,962    746,050 
Samsung Electro-Mechanics Co. Ltd.   12,771    1,417,368 
Samsung Electronics Co. Ltd.   680,016    36,483,173 
Samsung Engineering Co. Ltd.(b)   27,171    579,010 
Samsung Fire & Marine Insurance Co. Ltd.   6,571    1,116,084 
Samsung SDI Co. Ltd.   3,210    1,734,040 
Samsung SDS Co. Ltd.   8,248    772,159 
Security  Shares   Value 
         
South Korea (continued)          
Samsung Securities Co. Ltd.   28,448   $787,333 
SD Biosensor Inc.   60,615    771,825 
Seegene Inc.   74,577    1,363,377 
Shinhan Financial Group Co. Ltd.   115,723    3,048,998 
SK Bioscience Co. Ltd.(b)   3,087    191,815 
SK Hynix Inc.   14,948    1,219,060 
SK Innovation Co. Ltd.(b)   1,460    207,812 
Wemade Co. Ltd.(c)   11,170    398,795 
Woori Financial Group Inc.   267,068    2,408,085 
         100,673,655 
Taiwan — 16.5%          
Accton Technology Corp.   153,000    1,754,265 
Acer Inc.   1,022,000    1,024,356 
Advanced Energy Solution Holding Co. Ltd.   7,000    161,081 
Advantech Co. Ltd.   76,000    1,004,498 
ASE Technology Holding Co. Ltd.   313,000    1,131,041 
Asustek Computer Inc.   19,000    188,351 
AUO Corp.   2,333,800    1,334,931 
Cathay Financial Holding Co. Ltd.   2,096,000    3,015,390 
Chicony Electronics Co. Ltd.   67,000    230,998 
China Airlines Ltd.   280,000    201,753 
China Development Financial Holding Corp.   2,557,000    1,054,161 
Chunghwa Telecom Co. Ltd.   156,000    639,951 
CTBC Financial Holding Co. Ltd.   2,868,000    2,264,448 
Delta Electronics Inc.   204,000    2,094,868 
Far EasTone Telecommunications Co. Ltd.   393,000    981,322 
Feng TAY Enterprise Co. Ltd.   168,000    1,041,271 
Formosa Sumco Technology Corp.   127,000    683,303 
Fubon Financial Holding Co. Ltd.   2,164,000    4,273,504 
Giant Manufacturing Co. Ltd.   72,000    481,315 
Gigabyte Technology Co. Ltd.   405,000    2,450,353 
Global Unichip Corp.   55,000    2,663,357 
Hon Hai Precision Industry Co. Ltd.   1,179,000    4,079,078 
Kinsus Interconnect Technology Corp.   30,000    113,371 
Largan Precision Co. Ltd.   2,000    146,983 
Lite-On Technology Corp.   1,323,718    3,829,860 
MediaTek Inc.   220,000    5,406,190 
Mega Financial Holding Co. Ltd.   258,000    300,131 
Micro-Star International Co. Ltd.   283,000    1,526,377 
momo.com Inc.   42,800    970,305 
Nan Ya Plastics Corp.   335,000    846,624 
Nan Ya Printed Circuit Board Corp.   61,000    598,740 
Nien Made Enterprise Co. Ltd.   36,000    412,153 
Novatek Microelectronics Corp.   247,000    3,410,158 
Pegatron Corp.   131,000    320,777 
Polaris Group/Tw(b)   55,000    164,696 
Pou Chen Corp.   645,000    663,477 
President Chain Store Corp.   160,000    1,454,729 
Realtek Semiconductor Corp.   305,000    3,779,925 
Ruentex Industries Ltd.   503,000    931,817 
Shanghai Commercial & Savings Bank Ltd. (The)   1,118,000    1,642,359 
SinoPac Financial Holdings Co. Ltd.   3,158,000    1,776,473 
Synnex Technology International Corp.   331,000    687,702 
Taiwan Cooperative Financial Holding Co. Ltd.   1,970,000    1,790,730 
Taiwan Semiconductor Manufacturing Co. Ltd.   2,862,000    51,795,995 
Unimicron Technology Corp.   136,000    795,499 
Uni-President Enterprises Corp.   1,298,000    3,136,013 
United Microelectronics Corp.   2,547,000    4,263,127 
Voltronic Power Technology Corp.   16,000    1,006,860 
Wan Hai Lines Ltd.   221,000    415,722 

 

5

 

 

Schedule of Investments (unaudited) (continued) iShares® Emerging Markets Equity Factor ETF
May 31, 2023 (Formerly iShares® MSCI Emerging Markets Multifactor ETF)
  (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Taiwan (continued)          
Winbond Electronics Corp.   132,000   $114,071 
Wiwynn Corp.   49,000    1,842,193 
Yang Ming Marine Transport Corp.   366,000    722,216 
Yuanta Financial Holding Co. Ltd.   4,233,000    3,281,240 
Yulon Nissan Motor Co. Ltd.   13,000    82,528 
         130,982,636 
Thailand — 1.4%          
Advanced Info Service PCL, NVDR   301,700    1,829,024 
Carabao Group PCL, NVDR   83,600    159,457 
Charoen Pokphand Foods PCL, NVDR   1,548,400    893,748 
Com7 PCL, NVDR   731,000    608,473 
Delta Electronics Thailand PCL, NVDR(c)   783,800    2,227,455 
Jasmine Technology Solution PCL(b)(c)   462,100    373,732 
Kasikornbank PCL, NVDR   65,400    243,262 
Krung Thai Bank PCL, NVDR   1,604,600    875,543 
Krungthai Card PCL, NVDR   465,900    682,215 
MK Restaurants Group PCL, NVDR(c)   513,700    763,692 
PTT Exploration & Production PCL, NVDR   137,900    552,180 
PTT Public Company Ltd., NVDR   653,200    562,700 
SCB X PCL, NVDR   191,500    569,098 
Thai Life Insurance PCL(c)   2,656,100    946,185 
TOA Paint Thailand PCL, NVDR   161,500    154,200 
         11,440,964 
Turkey — 1.0%          
Anadolu Efes Biracilik Ve Malt Sanayii AS   163,674    459,977 
BIM Birlesik Magazalar AS   201,611    1,371,989 
Ford Otomotiv Sanayi AS   66,652    1,841,549 
Gubre Fabrikalari TAS(b)(c)   29,586    369,522 
KOC Holding AS   51,233    194,475 
Oyak Cimento Fabrikalari AS(b)   35,479    70,729 
Tofas Turk Otomobil Fabrikasi AS   234,597    2,432,266 
Turk Telekomunikasyon AS   417,877    323,091 
Turkcell Iletisim Hizmetleri AS   444,550    718,157 
Turkiye Garanti Bankasi AS(c)   282,842    365,650 
Yapi ve Kredi Bankasi AS   153,610    75,663 
         8,223,068 
United Arab Emirates — 2.1%          
Abu Dhabi Islamic Bank PJSC   1,358,529    3,698,741 
Abu Dhabi National Energy Co. PJSC   169,664    138,579 
Abu Dhabi National Oil Co. for Distribution PJSC   1,082,263    1,219,883 
Dubai Electricity & Water Authority PJSC   3,595,418    2,427,650 
Emaar Properties PJSC   529,050    884,487 
Emirates NBD Bank PJSC   99,873    370,786 
Emirates Telecommunications Group Co. PJSC   283,960    1,782,648 
Fertiglobe PLC   2,675,818    2,394,925 
First Abu Dhabi Bank PJSC   241,067    833,076 
International Holding Co. PJSC(b)   25,878    2,782,997 
         16,533,772 
Total Common Stocks — 98.3%          
(Cost: $778,744,725)        780,548,066 
Security  Shares   Value 
         
Preferred Stocks          
           
Brazil — 1.2%          
Banco Bradesco SA, Preference Shares, NVS   490,973   $1,500,994 
Gerdau SA, Preference Shares, NVS   282,025    1,332,493 
Itau Unibanco Holding SA, Preference Shares, NVS   765,497    3,972,865 
Petroleo Brasileiro SA, Preference Shares, NVS   550,610    2,834,828 
         9,641,180 
Chile — 0.1%          
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares   8,584    553,188 
           
South Korea — 0.2%          
Kumho Petrochemical Co. Ltd., 0.00%   7,287    361,864 
Samsung Electronics Co. Ltd., Preference Shares, NVS   20,021    881,829 
         1,243,693 
Total Preferred Stocks — 1.5%          
(Cost: $10,950,658)        11,438,061 
           
Total Long-Term Investments — 99.8%          
(Cost: $789,695,383)        791,986,127 
           
Short-Term Securities          
           
Money Market Funds — 1.0%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.29%(f)(g)(h)   7,581,934    7,583,451 
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.07%(f)(g)   870,000    870,000 
           
Total Short-Term Securities — 1.0%          
(Cost: $8,452,905)        8,453,451 
           
Total Investments — 100.8%          
(Cost: $798,148,288)        800,439,578 
           
Liabilities in Excess of Other Assets — (0.8)%    (6,648,164)
           
Net Assets — 100.0%       $793,791,414 

 

(a)Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b)Non-income producing security.
(c)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)This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(f)Affiliate of the Fund.
(g)Annualized 7-day yield as of period end.
(h)All or a portion of this security was purchased with the cash collateral from loaned securities.

 

6

 

 

Schedule of Investments (unaudited) (continued) iShares® Emerging Markets Equity Factor ETF
May 31, 2023 (Formerly iShares® MSCI Emerging Markets Multifactor ETF)

 

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:

 

Affiliated Issuer  Value at
08/31/22		   Purchases
at Cost		   Proceeds
from Sale		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
05/31/23		   Shares
Held at
05/31/23		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Institutional, SL Agency Shares  $9,030,754   $—   $(1,449,428)(a)  $5,416   $(3,291)  $7,583,451    7,581,934   $113,419(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   700,000    170,000(a)   —    —    —    870,000    870,000    36,961    2 
                  $5,416   $(3,291)  $8,453,451        $150,380   $2 

 

(a)Represents net amount purchased (sold).
(b)All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

 

Derivative Financial Instruments Outstanding as of Period End

 

Futures Contracts

 

Description  Number of
Contracts		   Expiration
Date		  Notional
Amount
(000)		   Value/
Unrealized
Appreciation
(Depreciation)		 
Long Contracts                  
MSCI Emerging Markets Index   41   06/16/23  $1,961   $(41,379)

 

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  $92,478,323   $688,064,205   $5,538   $780,548,066 
Preferred Stocks   10,194,368    1,243,693    —    11,438,061 
Short-Term Securities                    
Money Market Funds   8,453,451    —    —    8,453,451 
   $111,126,142   $689,307,898   $5,538   $800,439,578 

 

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Schedule of Investments (unaudited) (continued) iShares® Emerging Markets Equity Factor ETF
May 31, 2023 (Formerly iShares® MSCI Emerging Markets Multifactor ETF)

 

Fair Value Hierarchy as of Period End (continued)

 

   Level 1   Level 2   Level 3   Total 
Derivative Financial Instruments(a)                    
Liabilities                    
Equity Contracts  $(41,379)  $—   $—   $(41,379)

 

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

 

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

 

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