| Schedule of Investments (unaudited) | iShares® MSCI Japan ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Air Freight & Logistics — 0.4% | ||||||||
| Nippon Express Holdings Inc. | 271,200 | $ | 14,794,024 | |||||
| SG Holdings Co. Ltd. | 1,192,500 | 17,202,565 | ||||||
| Yamato Holdings Co. Ltd. | 995,000 | 17,663,895 | ||||||
| 49,660,484 | ||||||||
| Automobile Components — 1.9% | ||||||||
| Aisin Corp. | 551,400 | 20,365,002 | ||||||
| Bridgestone Corp. | 2,136,800 | 88,198,133 | ||||||
| Denso Corp. | 6,487,400 | 101,811,506 | ||||||
| Koito Manufacturing Co. Ltd. | 722,100 | 10,929,817 | ||||||
| Sumitomo Electric Industries Ltd. | 2,674,100 | 33,209,245 | ||||||
| 254,513,703 | ||||||||
| Automobiles — 8.7% | ||||||||
| Honda Motor Co. Ltd. | 17,286,700 | 176,824,540 | ||||||
| Isuzu Motors Ltd. | 2,182,100 | 28,967,818 | ||||||
| Mazda Motor Corp. | 2,128,000 | 22,913,506 | ||||||
| Nissan Motor Co. Ltd. | 8,687,600 | 34,484,023 | ||||||
| Subaru Corp. | 2,302,800 | 41,080,285 | ||||||
| Suzuki Motor Corp. | 1,378,500 | 56,331,716 | ||||||
| Toyota Motor Corp. | 39,687,100 | 753,493,071 | ||||||
| Yamaha Motor Co. Ltd. | 1,114,100 | 28,560,428 | ||||||
| 1,142,655,387 | ||||||||
| Banks — 7.1% | ||||||||
| Chiba Bank Ltd. (The) | 1,983,800 | 14,886,400 | ||||||
| Concordia Financial Group Ltd. | 3,966,400 | 18,668,033 | ||||||
| Japan Post Bank Co. Ltd. | 5,415,400 | 53,410,357 | ||||||
| Mitsubishi UFJ Financial Group Inc. | 42,734,180 | 364,123,754 | ||||||
| Mizuho Financial Group Inc. | 9,027,758 | 153,198,103 | ||||||
| Resona Holdings Inc. | 7,943,600 | 41,378,627 | ||||||
| Shizuoka Financial Group Inc., NVS | 1,751,800 | 14,190,159 | ||||||
| Sumitomo Mitsui Financial Group Inc. | 4,755,300 | 233,948,642 | ||||||
| Sumitomo Mitsui Trust Holdings Inc. | 1,226,132 | 46,146,195 | ||||||
| 939,950,270 | ||||||||
| Beverages — 0.9% | ||||||||
| Asahi Group Holdings Ltd. | 1,802,500 | 66,734,865 | ||||||
| Kirin Holdings Co. Ltd. | 2,907,500 | 41,101,968 | ||||||
| Suntory Beverage & Food Ltd. | 520,400 | 16,385,045 | ||||||
| 124,221,878 | ||||||||
| Broadline Retail — 0.4% | ||||||||
| Pan Pacific International Holdings Corp. | 1,425,100 | 30,873,979 | ||||||
| Rakuten Group Inc. | 5,605,100 | 22,150,765 | ||||||
| 53,024,744 | ||||||||
| Building Products — 1.4% | ||||||||
| AGC Inc. | 723,500 | 26,285,443 | ||||||
| Daikin Industries Ltd. | 987,300 | 147,423,053 | ||||||
| TOTO Ltd. | 496,800 | 12,741,690 | ||||||
| 186,450,186 | ||||||||
| Capital Markets — 1.0% | ||||||||
| Daiwa Securities Group Inc. | 4,992,200 | 32,278,412 | ||||||
| Japan Exchange Group Inc. | 1,879,200 | 38,358,826 | ||||||
| Nomura Holdings Inc. | 11,247,300 | 46,059,797 | ||||||
| SBI Holdings Inc. | 923,510 | 20,034,481 | ||||||
| 136,731,516 | ||||||||
| Chemicals — 3.8% | ||||||||
| Asahi Kasei Corp. | 4,695,000 | 32,597,349 | ||||||
| JSR Corp. | 662,900 | 18,255,676 | ||||||
| Mitsubishi Chemical Group Corp. | 4,791,600 | 31,419,453 | ||||||
| Mitsui Chemicals Inc. | 638,900 | 18,756,549 | ||||||
| Nippon Paint Holdings Co. Ltd. | 3,548,600 | 26,452,971 | ||||||
| Security | Shares | Value | ||||||
| Chemicals (continued) | ||||||||
| Nippon Sanso Holdings Corp. | 648,300 | $ | 17,039,868 | |||||
| Nissan Chemical Corp. | 470,000 | 17,153,572 | ||||||
| Nitto Denko Corp. | 537,200 | 38,176,409 | ||||||
| Shin-Etsu Chemical Co. Ltd. | 6,817,600 | 240,318,059 | ||||||
| Sumitomo Chemical Co. Ltd. | 5,269,200 | 13,455,318 | ||||||
| Toray Industries Inc. | 5,189,800 | 26,907,921 | ||||||
| Tosoh Corp. | 973,300 | 12,948,574 | ||||||
| 493,481,719 | ||||||||
| Commercial Services & Supplies — 0.7% | ||||||||
| Dai Nippon Printing Co. Ltd. | 765,600 | 21,503,435 | ||||||
| Secom Co. Ltd. | 785,800 | 54,621,121 | ||||||
| Toppan Inc. | 922,600 | 21,604,847 | ||||||
| 97,729,403 | ||||||||
| Construction & Engineering — 0.6% | ||||||||
| Kajima Corp. | 1,582,800 | 25,022,249 | ||||||
| Obayashi Corp. | 2,430,200 | 20,503,146 | ||||||
| Shimizu Corp. | 1,948,200 | 12,806,257 | ||||||
| Taisei Corp. | 635,800 | 21,620,914 | ||||||
| 79,952,566 | ||||||||
| Consumer Staples Distribution & Retail — 1.5% | ||||||||
| Aeon Co. Ltd. | 2,447,300 | 50,618,555 | ||||||
| Kobe Bussan Co. Ltd. | 563,200 | 14,809,324 | ||||||
| MatsukiyoCocokara & Co. | 1,284,100 | 22,183,687 | ||||||
| Seven & i Holdings Co. Ltd. | 2,819,780 | 108,271,688 | ||||||
| 195,883,254 | ||||||||
| Diversified REITs — 0.4% | ||||||||
| Daiwa House REIT Investment Corp. | 8,682 | 15,459,928 | ||||||
| Kenedix Office Investment Corp. | 15,504 | 17,757,391 | ||||||
| Nomura Real Estate Master Fund Inc. | 15,882 | 18,191,113 | ||||||
| 51,408,432 | ||||||||
| Diversified Telecommunication Services — 1.0% | ||||||||
| Nippon Telegraph & Telephone Corp. | 111,828,800 | 130,867,116 | ||||||
| Electric Utilities — 0.7% | ||||||||
| Chubu Electric Power Co. Inc. | 2,411,200 | 29,789,005 | ||||||
| Kansai Electric Power Co. Inc. (The) | 2,634,800 | 35,181,083 | ||||||
| Tokyo Electric Power Co. Holdings Inc.(a) | 5,713,400 | 24,404,026 | ||||||
| 89,374,114 | ||||||||
| Electrical Equipment — 1.4% | ||||||||
| Fuji Electric Co. Ltd. | 474,900 | 19,928,282 | ||||||
| Mitsubishi Electric Corp. | 7,232,100 | 97,965,685 | ||||||
| Nidec Corp. | 1,562,100 | 59,232,150 | ||||||
| 177,126,117 | ||||||||
| Electronic Equipment, Instruments & Components — 5.4% | ||||||||
| Azbil Corp. | 430,200 | 13,894,309 | ||||||
| Hamamatsu Photonics KK | 525,100 | 20,762,562 | ||||||
| Hirose Electric Co. Ltd. | 115,458 | 12,932,501 | ||||||
| Ibiden Co. Ltd. | 421,700 | 20,161,274 | ||||||
| Keyence Corp. | 728,104 | 311,785,350 | ||||||
| Kyocera Corp. | 1,201,200 | 66,516,086 | ||||||
| Murata Manufacturing Co. Ltd. | 6,449,400 | 125,326,127 | ||||||
| Omron Corp. | 656,100 | 27,507,097 | ||||||
| Shimadzu Corp. | 886,400 | 22,994,203 | ||||||
| TDK Corp. | 1,454,900 | 67,701,083 | ||||||
| Yokogawa Electric Corp. | 851,300 | 16,154,341 | ||||||
| 705,734,933 | ||||||||
| Entertainment — 2.1% | ||||||||
| Capcom Co. Ltd. | 648,300 | 21,757,622 | ||||||
| Koei Tecmo Holdings Co. Ltd. | 436,720 | 5,331,357 | ||||||
| Konami Group Corp. | 375,900 | 18,590,058 | ||||||
1
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Entertainment (continued) | ||||||||
| Nexon Co. Ltd. | 1,280,500 | $ | 27,669,907 | |||||
| Nintendo Co. Ltd. | 3,888,200 | 181,238,371 | ||||||
| Square Enix Holdings Co. Ltd. | 321,000 | 11,136,673 | ||||||
| Toho Co. Ltd. | 419,000 | 14,520,683 | ||||||
| 280,244,671 | ||||||||
| Financial Services — 0.8% | ||||||||
| Mitsubishi HC Capital Inc. | 3,019,400 | 19,695,632 | ||||||
| ORIX Corp. | 4,390,200 | 80,204,666 | ||||||
| 99,900,298 | ||||||||
| Food Products — 1.2% | ||||||||
| Ajinomoto Co. Inc. | 1,669,900 | 62,342,504 | ||||||
| Kikkoman Corp. | 507,900 | 31,192,325 | ||||||
| MEIJI Holdings Co. Ltd. | 878,612 | 20,352,582 | ||||||
| Nissin Foods Holdings Co. Ltd. | 250,200 | 24,854,273 | ||||||
| Yakult Honsha Co. Ltd. | 952,500 | 21,296,151 | ||||||
| 160,037,835 | ||||||||
| Gas Utilities — 0.5% | ||||||||
| Osaka Gas Co. Ltd. | 1,403,400 | 27,349,923 | ||||||
| Tokyo Gas Co. Ltd. | 1,383,400 | 32,074,318 | ||||||
| 59,424,241 | ||||||||
| Ground Transportation — 2.1% | ||||||||
| Central Japan Railway Co. | 2,697,200 | 64,706,248 | ||||||
| East Japan Railway Co. | 1,131,500 | 61,115,714 | ||||||
| Hankyu Hanshin Holdings Inc. | 856,500 | 25,893,548 | ||||||
| Keisei Electric Railway Co. Ltd. | 483,900 | 19,492,021 | ||||||
| Kintetsu Group Holdings Co. Ltd. | 677,900 | 18,982,138 | ||||||
| Odakyu Electric Railway Co. Ltd. | 1,172,200 | 16,470,946 | ||||||
| Tobu Railway Co. Ltd. | 706,700 | 17,463,884 | ||||||
| Tokyu Corp. | 1,870,800 | 21,942,503 | ||||||
| West Japan Railway Co. | 821,500 | 32,467,735 | ||||||
| 278,534,737 | ||||||||
| Health Care Equipment & Supplies — 2.6% | ||||||||
| Asahi Intecc Co. Ltd. | 813,200 | 15,776,673 | ||||||
| Hoya Corp. | 1,325,100 | 149,042,459 | ||||||
| Olympus Corp. | 4,501,600 | 66,081,666 | ||||||
| Sysmex Corp. | 628,000 | 34,738,862 | ||||||
| Terumo Corp. | 2,518,300 | 80,402,994 | ||||||
| 346,042,654 | ||||||||
| Health Care Technology — 0.2% | ||||||||
| M3 Inc. | 1,651,700 | 27,257,299 | ||||||
| Hotels, Restaurants & Leisure — 1.3% | ||||||||
| McDonald’s Holdings Co. Japan Ltd. | 323,400 | 13,766,707 | ||||||
| Oriental Land Co. Ltd. | 4,083,200 | 138,702,968 | ||||||
| Zensho Holdings Co. Ltd. | 347,000 | 19,248,104 | ||||||
| 171,717,779 | ||||||||
| Household Durables — 4.4% | ||||||||
| Iida Group Holdings Co. Ltd. | 588,780 | 8,830,413 | ||||||
| Open House Group Co. Ltd. | 290,900 | 8,124,356 | ||||||
| Panasonic Holdings Corp. | 8,266,315 | 85,176,979 | ||||||
| Sekisui Chemical Co. Ltd. | 1,439,400 | 20,457,276 | ||||||
| Sekisui House Ltd. | 2,232,600 | 45,713,320 | ||||||
| Sharp Corp.(a) | 973,600 | 6,083,922 | ||||||
| Sony Group Corp. | 4,719,500 | 405,834,614 | ||||||
| 580,220,880 | ||||||||
| Household Products — 0.4% | ||||||||
| Unicharm Corp. | 1,510,200 | 48,529,728 | ||||||
| Industrial Conglomerates — 2.0% | ||||||||
| Hikari Tsushin Inc. | 75,900 | 11,771,808 | ||||||
| Hitachi Ltd. | 3,469,800 | 241,259,620 | ||||||
| Security | Shares | Value | ||||||
| Industrial Conglomerates (continued) | ||||||||
| Toshiba Corp.(a) | 321,863 | $ | 9,985,847 | |||||
| 263,017,275 | ||||||||
| Industrial REITs — 0.3% | ||||||||
| GLP J-REIT | 17,511 | 16,521,015 | ||||||
| Nippon Prologis REIT Inc. | 8,531 | 16,146,527 | ||||||
| 32,667,542 | ||||||||
| Insurance — 3.5% | ||||||||
| Dai-ichi Life Holdings Inc. | 3,519,300 | 73,777,201 | ||||||
| Japan Post Holdings Co. Ltd. | 7,771,600 | 68,664,482 | ||||||
| Japan Post Insurance Co. Ltd. | 717,000 | 13,477,250 | ||||||
| MS&AD Insurance Group Holdings Inc. | 1,604,940 | 60,428,209 | ||||||
| Sompo Holdings Inc. | 1,106,050 | 50,738,278 | ||||||
| T&D Holdings Inc. | 1,873,600 | 27,877,534 | ||||||
| Tokio Marine Holdings Inc. | 6,744,700 | 167,013,171 | ||||||
| 461,976,125 | ||||||||
| Interactive Media & Services — 0.2% | ||||||||
| Z Holdings Corp. | 10,000,300 | 28,966,459 | ||||||
| IT Services — 2.3% | ||||||||
| Fujitsu Ltd. | 658,800 | 93,803,658 | ||||||
| NEC Corp. | 919,000 | 51,221,274 | ||||||
| Nomura Research Institute Ltd. | 1,445,312 | 40,471,222 | ||||||
| NTT Data Corp. | 2,361,900 | 28,697,838 | ||||||
| Obic Co. Ltd. | 260,900 | 39,916,277 | ||||||
| Otsuka Corp. | 426,600 | 17,380,446 | ||||||
| SCSK Corp. | 585,900 | 10,773,740 | ||||||
| TIS Inc. | 823,300 | 17,371,695 | ||||||
| 299,636,150 | ||||||||
| Leisure Products — 0.8% | ||||||||
| Bandai Namco Holdings Inc. | 2,243,194 | 44,606,450 | ||||||
| Shimano Inc. | 287,800 | 44,067,406 | ||||||
| Yamaha Corp. | 490,700 | 11,473,897 | ||||||
| 100,147,753 | ||||||||
| Machinery — 4.6% | ||||||||
| Daifuku Co. Ltd. | 1,137,200 | 21,422,954 | ||||||
| FANUC Corp. | 3,566,200 | 99,018,627 | ||||||
| Hitachi Construction Machinery Co. Ltd. | 402,500 | 10,493,969 | ||||||
| Hoshizaki Corp. | 404,400 | 12,878,973 | ||||||
| Komatsu Ltd. | 3,462,200 | 88,559,875 | ||||||
| Kubota Corp. | 3,754,000 | 53,917,654 | ||||||
| Makita Corp. | 838,300 | 22,163,716 | ||||||
| MINEBEA MITSUMI Inc. | 1,358,600 | 25,886,591 | ||||||
| MISUMI Group Inc. | 1,065,600 | 17,301,239 | ||||||
| Mitsubishi Heavy Industries Ltd. | 1,199,400 | 67,381,777 | ||||||
| SMC Corp. | 214,300 | 107,943,770 | ||||||
| Toyota Industries Corp. | 548,700 | 47,191,119 | ||||||
| Yaskawa Electric Corp. | 898,300 | 34,465,129 | ||||||
| 608,625,393 | ||||||||
| Marine Transportation — 0.8% | ||||||||
| Kawasaki Kisen Kaisha Ltd. | 516,000 | 18,147,603 | ||||||
| Mitsui OSK Lines Ltd. | 1,287,400 | 35,398,004 | ||||||
| Nippon Yusen KK | 1,813,800 | 48,853,464 | ||||||
| 102,399,071 | ||||||||
| Media — 0.2% | ||||||||
| Dentsu Group Inc. | 758,300 | 20,426,122 | ||||||
| Metals & Mining — 1.0% | ||||||||
| JFE Holdings Inc. | 2,153,750 | 31,813,405 | ||||||
| Nippon Steel Corp. | 3,200,870 | 74,951,306 | ||||||
| Sumitomo Metal Mining Co. Ltd. | 925,100 | 26,740,387 | ||||||
| 133,505,098 | ||||||||
2
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Office REITs — 0.3% | ||||||||
| Japan Real Estate Investment Corp. | 4,792 | $ | 18,601,217 | |||||
| Nippon Building Fund Inc. | 5,729 | 24,021,519 | ||||||
| 42,622,736 | ||||||||
| Oil, Gas & Consumable Fuels — 0.9% | ||||||||
| ENEOS Holdings Inc. | 10,782,595 | 42,439,918 | ||||||
| Idemitsu Kosan Co. Ltd. | 724,529 | 19,763,867 | ||||||
| Inpex Corp. | 3,632,600 | 50,116,892 | ||||||
| 112,320,677 | ||||||||
| Paper & Forest Products — 0.1% | ||||||||
| Oji Holdings Corp. | 3,226,800 | 11,987,698 | ||||||
| Passenger Airlines — 0.2% | ||||||||
| ANA Holdings Inc.(a) | 598,100 | 12,341,995 | ||||||
| Japan Airlines Co. Ltd. | 539,900 | 10,219,005 | ||||||
| 22,561,000 | ||||||||
| Personal Care Products — 0.9% | ||||||||
| Kao Corp. | 1,743,600 | 66,802,539 | ||||||
| Kose Corp. | 124,800 | 8,829,353 | ||||||
| Shiseido Co. Ltd. | 1,497,000 | 40,102,429 | ||||||
| 115,734,321 | ||||||||
| Pharmaceuticals — 5.5% | ||||||||
| Astellas Pharma Inc. | 6,772,450 | 82,541,705 | ||||||
| Chugai Pharmaceutical Co. Ltd. | 2,513,500 | 88,768,708 | ||||||
| Daiichi Sankyo Co. Ltd. | 6,922,207 | 187,571,920 | ||||||
| Eisai Co. Ltd. | 943,400 | 48,991,847 | ||||||
| Kyowa Kirin Co. Ltd. | 1,010,400 | 16,703,022 | ||||||
| Ono Pharmaceutical Co. Ltd. | 1,452,300 | 26,757,191 | ||||||
| Otsuka Holdings Co. Ltd. | 1,565,700 | 60,397,533 | ||||||
| Shionogi & Co. Ltd. | 977,800 | 46,104,767 | ||||||
| Takeda Pharmaceutical Co. Ltd. | 5,921,800 | 167,870,768 | ||||||
| 725,707,461 | ||||||||
| Professional Services — 1.6% | ||||||||
| BayCurrent Consulting Inc. | 494,400 | 16,590,359 | ||||||
| Recruit Holdings Co. Ltd. | 5,394,900 | 199,365,399 | ||||||
| 215,955,758 | ||||||||
| Real Estate Management & Development — 2.1% | ||||||||
| Daito Trust Construction Co. Ltd. | 232,100 | 25,566,939 | ||||||
| Daiwa House Industry Co. Ltd. | 2,220,800 | 63,102,750 | ||||||
| Hulic Co. Ltd. | 1,436,900 | 14,269,173 | ||||||
| Mitsubishi Estate Co. Ltd. | 4,212,600 | 56,947,908 | ||||||
| Mitsui Fudosan Co. Ltd. | 3,330,900 | 78,300,495 | ||||||
| Nomura Real Estate Holdings Inc. | 411,200 | 10,027,692 | ||||||
| Sumitomo Realty & Development Co. Ltd. | 1,069,000 | 30,233,747 | ||||||
| 278,448,704 | ||||||||
| Retail REITs — 0.1% | ||||||||
| Japan Metropolitan Fund Invest | 26,156 | 17,405,641 | ||||||
| Semiconductors & Semiconductor Equipment — 4.9% | ||||||||
| Advantest Corp. | 2,867,200 | 89,090,205 | ||||||
| Disco Corp. | 344,700 | 74,784,053 | ||||||
| Lasertec Corp. | 282,300 | 63,047,880 | ||||||
| Renesas Electronics Corp.(a) | 5,497,000 | 95,806,911 | ||||||
| Rohm Co. Ltd. | 1,233,500 | 23,568,038 | ||||||
| SUMCO Corp. | 1,310,500 | 19,607,509 | ||||||
| Tokyo Electron Ltd. | 1,765,056 | 283,558,911 | ||||||
| 649,463,507 | ||||||||
| Security | Shares | Value | ||||||
| Software — 0.3% | ||||||||
| Oracle Corp. Japan | 144,200 | $ | 11,104,721 | |||||
| Trend Micro Inc. | 500,700 | 25,452,020 | ||||||
| 36,556,741 | ||||||||
| Specialty Retail — 1.7% | ||||||||
| Fast Retailing Co. Ltd. | 655,000 | 166,400,266 | ||||||
| Nitori Holdings Co. Ltd. | 299,800 | 34,355,915 | ||||||
| USS Co. Ltd. | 769,400 | 15,044,994 | ||||||
| ZOZO Inc. | 524,800 | 11,078,385 | ||||||
| 226,879,560 | ||||||||
| Technology Hardware, Storage & Peripherals — 1.7% | ||||||||
| Brother Industries Ltd. | 868,200 | 14,658,406 | ||||||
| Canon Inc. | 3,743,650 | 96,453,464 | ||||||
| FUJIFILM Holdings Corp. | 1,396,500 | 81,779,643 | ||||||
| Ricoh Co. Ltd. | 2,053,000 | 16,776,044 | ||||||
| Seiko Epson Corp. | 1,080,700 | 16,051,333 | ||||||
| 225,718,890 | ||||||||
| Tobacco — 0.9% | ||||||||
| Japan Tobacco Inc. | 4,490,900 | 115,482,334 | ||||||
| Trading Companies & Distributors — 5.9% | ||||||||
| ITOCHU Corp. | 4,448,500 | 172,946,148 | ||||||
| Marubeni Corp. | 5,359,800 | 83,762,388 | ||||||
| Mitsubishi Corp. | 4,303,700 | 200,673,969 | ||||||
| Mitsui & Co. Ltd. | 4,843,700 | 176,635,166 | ||||||
| MonotaRO Co. Ltd. | 938,900 | 9,436,973 | ||||||
| Sumitomo Corp. | 3,890,700 | 81,573,729 | ||||||
| Toyota Tsusho Corp. | 795,000 | 44,055,119 | ||||||
| 769,083,492 | ||||||||
| Wireless Telecommunication Services — 3.5% | ||||||||
| KDDI Corp. | 5,601,500 | 174,979,992 | ||||||
| SoftBank Corp. | 10,760,000 | 130,765,371 | ||||||
| SoftBank Group Corp. | 3,850,900 | 156,044,599 | ||||||
| 461,789,962 | ||||||||
| Total Long-Term Investments — 99.2% | ||||||||
| (Cost: $14,102,947,330) | 13,039,761,414 | |||||||
| Short-Term Securities | ||||||||
| Money Market Funds — 0.0% | ||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 5.34%(b)(c) | 5,120,000 | 5,120,000 | ||||||
| Total Short-Term Securities — 0.0% | ||||||||
| (Cost: $5,120,000) | 5,120,000 | |||||||
| Total Investments — 99.2% | ||||||||
| (Cost: $14,108,067,330) | 13,044,881,414 | |||||||
| Other Assets Less Liabilities — 0.8% | 107,675,510 | |||||||
| Net Assets — 100.0% | $ | 13,152,556,924 | ||||||
| (a) | Non-income producing security. |
| (b) | Affiliate of the Fund. |
| (c) | Annualized 7-day yield as of period end. |
3
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan ETF |
| November 30, 2023 |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended November 30, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 08/31/23 | Purchases at Cost | Proceeds from Sale | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 11/30/23 | Shares Held at 11/30/23 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares(a) | $ | 3,594,331 | $ | — | $ | (3,594,573 | )(b) | $ | 242 | $ | — | $ | — | — | $ | 6,334 | (c) | $ | — | |||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 6,640,000 | — | (1,520,000 | )(b) | — | — | 5,120,000 | 5,120,000 | 52,386 | — | ||||||||||||||||||||||||||
| $ | 242 | $ | — | $ | 5,120,000 | $ | 58,720 | $ | — | |||||||||||||||||||||||||||
| (a) | As of period end, the entity is no longer held. |
| (b) | Represents net amount purchased (sold). |
| (c) | 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 | ||||||||||||||
| TOPIX Index | 693 | 12/07/23 | $ | 111,344 | $ | 2,243,841 | ||||||||
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 | $ | — | $ | 13,039,761,414 | $ | — | $ | 13,039,761,414 | ||||||||
| Short-Term Securities | ||||||||||||||||
| Money Market Funds | 5,120,000 | — | — | 5,120,000 | ||||||||||||
| $ | 5,120,000 | $ | 13,039,761,414 | $ | — | $ | 13,044,881,414 | |||||||||
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| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan ETF |
| November 30, 2023 |
Fair Value Hierarchy as of Period End (continued)
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Derivative Financial Instruments(a) | ||||||||||||||||
| Assets | ||||||||||||||||
| Equity Contracts | $ | — | $ | 2,243,841 | $ | — | $ | 2,243,841 | ||||||||
| (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 |
| REIT | Real Estate Investment Trust |
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