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

Security	Shares		Value
Common Stocks
Air Freight & Logistics — 1.0%
InPost SA(a)		182,198	$	1,971,012
PostNL NV		477,989		742,206
				2,713,218
Banks — 7.9%
ABN AMRO Bank NV, CVA(b)		218,865		3,197,550
ING Groep NV(a)		1,543,504		19,017,650
				22,215,200
Beverages — 7.3%
Coca-Cola Europacific Partners PLC		91,232		5,691,964
Heineken Holding NV		49,974		4,253,050
Heineken NV		103,219		10,443,538
				20,388,552
Biotechnology — 0.4%
Pharming Group NV(a)		810,618		988,089
Capital Markets — 1.3%
Allfunds Group PLC		217,414		1,492,063
Flow Trades Ltd., NVS		42,564		983,638
Van Lanschot Kempen NV		40,275		1,104,336
				3,580,037
Chemicals — 5.9%
Akzo Nobel NV		79,333		5,979,978
Corbion NV		44,237		1,216,758
DSM-Firmenich AG(a)		71,768		7,981,203
OCI NV		63,784		1,415,733
				16,593,672
Construction & Engineering — 0.7%
Fugro NV(a)		89,777		1,291,902
Koninklijke BAM Groep NV		398,779		811,677
				2,103,579
Distributors — 0.1%
B&S Group Sarl(b)		44,680		176,706
Financial Services — 6.3%
Adyen NV(a)(b)		8,182		13,400,815
EXOR NV, NVS(a)		49,620		4,120,713
SNS Real NV(c)(d)		63,320		1
				17,521,529
Diversified Telecommunication Services — 1.8%
Koninklijke KPN NV		1,478,877		5,087,702
Electrical Equipment — 1.6%
Alfen Beheer BV(a)(b)(d)		16,414		1,174,713
Signify NV(b)		70,340		1,794,976
TKH Group NV		32,613		1,621,938
				4,591,627
Energy Equipment & Services — 0.5%
SBM Offshore NV		96,975		1,318,515
Entertainment — 2.4%
Universal Music Group NV		338,091		6,706,726
Consumer Staples Distribution & Retail — 4.6%
Koninklijke Ahold Delhaize NV		387,212		12,275,528
Sligro Food Group NV		33,622		564,236
				12,839,764
Food Products — 0.7%
JDE Peet’s NV		67,696		1,966,752

Security	Shares		Value
Health Care Equipment & Supplies — 2.7%
Koninklijke Philips NV		400,755	$	7,571,302
Hotels, Restaurants & Leisure — 1.2%
Basic-Fit NV(a)(b)(d)		45,273		1,734,046
Just Eat Takeaway.com NV(a)(b)		111,385		1,684,608
				3,418,654
Insurance — 3.9%
Aegon NV		812,086		3,568,447
ASR Nederland NV		70,125		2,988,500
NN Group NV		121,335		4,377,427
				10,934,374
Retail REITs — 0.7%
Eurocommercial Properties NV		45,044		1,029,558
Vastned Retail NV		17,228		361,223
Wereldhave NV		48,492		711,221
				2,102,002
IT Services — 0.3%
Ordina NV		122,196		739,283
Machinery — 0.9%
Aalberts NV		54,447		2,304,478
Ebusco Holding NV(a)(d)		22,939		188,174
				2,492,652
Metals & Mining — 0.5%
AMG Advanced Metallurgical Group NV		33,145		1,496,814
Broadline Retail — 7.7%
Prosus NV		327,168		21,561,872
Oil, Gas & Consumable Fuels — 0.7%
Koninklijke Vopak NV		54,454		1,913,947
Professional Services — 6.1%
Arcadis NV		45,694		1,858,013
Brunel International NV		30,687		379,126
Randstad NV		58,121		2,851,166
Wolters Kluwer NV		105,441		12,043,913
				17,132,218
Office REITs — 0.2%
NSI NV		30,182		643,940
Semiconductors & Semiconductor Equipment — 28.6%
ASM International NV		20,302		8,833,262
ASML Holding NV		92,500		66,907,686
BE Semiconductor Industries NV		39,672		4,386,553
				80,127,501
Software — 0.3%
TomTom NV(a)		105,981		811,180
Specialty Retail — 0.1%
Fastned BV(a)(d)		10,054		306,148
Trading Companies & Distributors — 3.1%
AerCap Holdings NV(a)		79,780		4,553,842
IMCD NV		26,555		4,002,839
				8,556,681
Total Long-Term Investments — 99.5%
(Cost: $331,354,238)				278,600,236

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

Security	Shares		Value
Short-Term Securities
Money Market Funds — 1.2%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.29%(e)(f)(g)		3,279,106	$	3,279,762
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.07%(e)(f)		170,000		170,000
Total Short-Term Securities — 1.2%
(Cost: $3,450,016)				3,449,762
Total Investments — 100.7%
(Cost: $334,804,254)				282,049,998
Liabilities in Excess of Other Assets — (0.7)%				(2,013,452	)
Net Assets — 100.0%			$	280,036,546

^(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) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(d) All or a portion of this security is on loan.

^(e) Affiliate of the Fund.

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

^(g) All or a portion of this security was purchased with the cash collateral from loaned securities.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended 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	$	3,283,583	$	—		$	(17,542	)(a)	$	15,704	$	(1,983	)	$	3,279,762		3,279,106	$	190,506	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		20,000		150,000	(a)		—			—		—			170,000		170,000		5,105			—
									$	15,704	$	(1,983	)	$	3,449,762			$	195,611		$	—

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

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

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

							Value/
					Notional		Unrealized
	Number of		Expiration		Amount		Appreciation
Description		Contracts		Date		(000)		(Depreciation)
Long Contracts
Euro STOXX 50 Index		30		06/16/23	$	1,357	$	(21,588	)

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

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

Fair Value Hierarchy as of Period End (continued)

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	$	23,301,564	$	255,298,671		$	1	$	278,600,236
Short-Term Securities
Money Market Funds		3,449,762		—			—		3,449,762
	$	26,751,326	$	255,298,671		$	1	$	282,049,998
Derivative Financial Instruments(a)
Liabilities
Equity Contracts	$	—	$	(21,588	)	$	—	$	(21,588	)

^(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

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