| Schedule of Investments (unaudited) | iShares® MSCI Japan Small-Cap ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Aerospace & Defense — 0.0% | ||||||||
| Ispace Inc., NVS(a) | 3,200 | $ | 18,532 | |||||
| Air Freight & Logistics — 0.6% | ||||||||
| AZ-COM MARUWA Holdings Inc. | 4,800 | 48,762 | ||||||
| Hamakyorex Co. Ltd. | 1,600 | 43,226 | ||||||
| Konoike Transport Co. Ltd. | 3,200 | 42,650 | ||||||
| Mitsui-Soko Holdings Co. Ltd. | 3,200 | 104,617 | ||||||
| Sankyu Inc. | 6,400 | 218,312 | ||||||
| SBS Holdings Inc. | 1,600 | 27,093 | ||||||
| Senko Group Holdings Co. Ltd. | 14,400 | 102,856 | ||||||
| Trancom Co. Ltd. | 1,600 | 81,650 | ||||||
| 669,166 | ||||||||
| Automobile Components — 3.4% | ||||||||
| Eagle Industry Co. Ltd. | 3,200 | 35,882 | ||||||
| Exedy Corp. | 3,200 | 55,177 | ||||||
| FCC Co. Ltd. | 4,800 | 59,339 | ||||||
| G-Tekt Corp. | 3,200 | 37,753 | ||||||
| JTEKT Corp. | 25,600 | 235,237 | ||||||
| KYB Corp. | 1,600 | 51,524 | ||||||
| Musashi Seimitsu Industry Co. Ltd. | 6,400 | 70,033 | ||||||
| NHK Spring Co. Ltd. | 25,600 | 195,184 | ||||||
| Nifco Inc./Japan | 9,600 | 234,824 | ||||||
| Nippon Seiki Co. Ltd. | 6,400 | 54,507 | ||||||
| Niterra Co. Ltd. | 20,800 | 483,744 | ||||||
| NOK Corp. | 9,600 | 122,568 | ||||||
| Pacific Industrial Co. Ltd. | 4,800 | 45,435 | ||||||
| Piolax Inc. | 3,200 | 49,052 | ||||||
| Seiren Co. Ltd. | 6,400 | 100,452 | ||||||
| Shoei Co. Ltd. | 6,400 | 85,813 | ||||||
| Stanley Electric Co. Ltd. | 17,600 | 325,562 | ||||||
| Sumitomo Riko Co. Ltd. | 4,800 | 33,571 | ||||||
| Sumitomo Rubber Industries Ltd. | 22,400 | 259,472 | ||||||
| Tokai Rika Co. Ltd. | 6,400 | 107,391 | ||||||
| Topre Corp. | 4,800 | 65,174 | ||||||
| Toyo Tire Corp. | 16,000 | 266,174 | ||||||
| Toyoda Gosei Co. Ltd. | 8,000 | 160,516 | ||||||
| Toyota Boshoku Corp. | 11,200 | 193,706 | ||||||
| TS Tech Co. Ltd. | 11,200 | 138,434 | ||||||
| Yokohama Rubber Co. Ltd. (The) | 16,000 | 356,462 | ||||||
| 3,822,986 | ||||||||
| Automobiles — 0.3% | ||||||||
| Mitsubishi Motors Corp. | 88,000 | 289,040 | ||||||
| Nissan Shatai Co. Ltd. | 8,000 | 48,496 | ||||||
| 337,536 | ||||||||
| Banks — 5.1% | ||||||||
| 77 Bank Ltd. (The) | 6,400 | 149,010 | ||||||
| Aichi Financial Group Inc., NVS | 4,800 | 76,242 | ||||||
| Aozora Bank Ltd.(a) | 15,400 | 316,772 | ||||||
| Awa Bank Ltd. (The) | 4,800 | 81,069 | ||||||
| Bank of Nagoya Ltd. (The) | 1,600 | 60,003 | ||||||
| Chugin Financial Group Inc., NVS | 20,800 | 148,948 | ||||||
| Daishi Hokuetsu Financial Group Inc. | 4,800 | 128,223 | ||||||
| Fukuoka Financial Group Inc. | 20,800 | 485,022 | ||||||
| Gunma Bank Ltd. (The) | 41,600 | 210,747 | ||||||
| Hachijuni Bank Ltd. (The) | 49,600 | 269,212 | ||||||
| Hirogin Holdings Inc. | 32,000 | 201,014 | ||||||
| Hokkoku Financial Holdings Inc. | 3,200 | 98,113 | ||||||
| Hokuhoku Financial Group Inc. | 14,400 | 153,144 | ||||||
| Hyakugo Bank Ltd. (The) | 27,200 | 99,734 | ||||||
| Iyogin Holdings Inc., NVS | 35,200 | 227,886 | ||||||
| Security | Shares | Value | ||||||
| Banks (continued) | ||||||||
| Juroku Financial Group Inc. | 3,200 | $ | 82,923 | |||||
| Keiyo Bank Ltd. (The) | 12,800 | 60,792 | ||||||
| Kiyo Bank Ltd. (The) | 8,000 | 86,171 | ||||||
| Kyoto Financial Group Inc. | 8,000 | 479,539 | ||||||
| Kyushu Financial Group Inc. | 43,200 | 243,952 | ||||||
| Mebuki Financial Group Inc. | 129,600 | 391,018 | ||||||
| Musashino Bank Ltd. (The) | 3,200 | 61,935 | ||||||
| Nanto Bank Ltd. (The) | 3,200 | 53,862 | ||||||
| Nishi-Nippon Financial Holdings Inc. | 16,000 | 177,208 | ||||||
| North Pacific Bank Ltd. | 35,200 | 87,118 | ||||||
| Ogaki Kyoritsu Bank Ltd. (The) | 4,800 | 61,641 | ||||||
| Okinawa Financial Group Inc. | 1,600 | 25,951 | ||||||
| Rakuten Bank Ltd., NVS(b) | 9,600 | 165,641 | ||||||
| San-In Godo Bank Ltd. (The) | 17,600 | 114,147 | ||||||
| SBI Sumishin Net Bank Ltd., NVS(a) | 6,400 | 71,862 | ||||||
| Senshu Ikeda Holdings Inc. | 27,200 | 62,744 | ||||||
| Seven Bank Ltd. | 76,800 | 155,888 | ||||||
| Shiga Bank Ltd. (The) | 4,800 | 121,639 | ||||||
| Suruga Bank Ltd. | 20,800 | 105,776 | ||||||
| Toho Bank Ltd.(The) | 22,400 | 44,085 | ||||||
| Tokyo Kiraboshi Financial Group Inc. | 3,200 | 93,356 | ||||||
| TOMONY Holdings Inc. | 17,600 | 58,432 | ||||||
| Yamaguchi Financial Group Inc. | 22,400 | 197,286 | ||||||
| 5,708,105 | ||||||||
| Beverages — 0.8% | ||||||||
| Coca-Cola Bottlers Japan Holdings Inc. | 17,600 | 241,330 | ||||||
| Ito En Ltd. | 6,400 | 195,001 | ||||||
| Sapporo Holdings Ltd.(a) | 8,000 | 312,424 | ||||||
| Takara Holdings Inc. | 19,200 | 158,009 | ||||||
| 906,764 | ||||||||
| Biotechnology — 0.3% | ||||||||
| GNI Group Ltd.(a)(b) | 5,797 | 132,565 | ||||||
| PeptiDream Inc.(b) | 12,800 | 109,234 | ||||||
| Pharma Foods International Co. Ltd. | 3,200 | 27,761 | ||||||
| SanBio Co. Ltd.(b) | 6,400 | 22,137 | ||||||
| Takara Bio Inc. | 6,400 | 52,920 | ||||||
| 344,617 | ||||||||
| Broadline Retail — 2.0% | ||||||||
| ASKUL Corp. | 4,800 | 70,078 | ||||||
| Belluna Co. Ltd. | 6,400 | 27,078 | ||||||
| Isetan Mitsukoshi Holdings Ltd. | 44,800 | 506,578 | ||||||
| Izumi Co. Ltd. | 4,800 | 114,684 | ||||||
| J Front Retailing Co. Ltd. | 32,000 | 293,134 | ||||||
| Kintetsu Department Store Co. Ltd. | 1,600 | 28,537 | ||||||
| Mercari Inc.(b) | 14,400 | 275,053 | ||||||
| Ryohin Keikaku Co. Ltd. | 33,600 | 531,055 | ||||||
| Seria Co. Ltd. | 6,400 | 103,059 | ||||||
| Takashimaya Co. Ltd. | 19,200 | 258,693 | ||||||
| 2,207,949 | ||||||||
| Building Products — 1.3% | ||||||||
| Bunka Shutter Co. Ltd. | 4,800 | 44,813 | ||||||
| Central Glass Co. Ltd. | 3,200 | 58,912 | ||||||
| Lixil Corp. | 38,400 | 467,632 | ||||||
| Nichias Corp. | 6,400 | 136,650 | ||||||
| Nichiha Corp. | 3,200 | 60,192 | ||||||
| Nitto Boseki Co. Ltd. | 3,200 | 97,220 | ||||||
| Noritz Corp. | 3,200 | 32,423 | ||||||
| Sanwa Holdings Corp. | 24,000 | 344,917 | ||||||
| Sekisui Jushi Corp. | 3,200 | 54,289 | ||||||
| Takara Standard Co. Ltd. | 4,800 | 57,651 | ||||||
1
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan Small-Cap ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Building Products (continued) | ||||||||
| Takasago Thermal Engineering Co. Ltd. | 4,800 | $ | 97,408 | |||||
| 1,452,107 | ||||||||
| Capital Markets — 0.6% | ||||||||
| GMO Financial Holdings Inc. | 4,800 | 23,518 | ||||||
| JAFCO Group Co. Ltd. | 6,400 | 73,654 | ||||||
| M&A Capital Partners Co. Ltd. | 1,600 | 24,501 | ||||||
| M&A Research Institute Inc., NVS(b) | 3,500 | 89,953 | ||||||
| Matsui Securities Co. Ltd.(a) | 14,400 | 72,211 | ||||||
| Monex Group Inc. | 24,000 | 107,458 | ||||||
| Okasan Securities Group Inc. | 19,200 | 92,721 | ||||||
| SPARX Group Co. Ltd. | 3,200 | 32,218 | ||||||
| Strike Co. Ltd. | 1,600 | 41,985 | ||||||
| Tokai Tokyo Financial Holdings Inc. | 24,000 | 89,790 | ||||||
| WealthNavi Inc.(a)(b) | 4,800 | 55,909 | ||||||
| 703,918 | ||||||||
| Chemicals — 6.6% | ||||||||
| ADEKA Corp. | 9,600 | 186,464 | ||||||
| Aica Kogyo Co. Ltd. | 6,400 | 143,911 | ||||||
| Air Water Inc. | 24,000 | 314,923 | ||||||
| Asahi Yukizai Corp. | 1,600 | 45,821 | ||||||
| C Uyemura & Co. Ltd. | 1,600 | 114,690 | ||||||
| C.I. Takiron Corp. | 6,400 | 25,466 | ||||||
| Chugoku Marine Paints Ltd. | 4,800 | 50,012 | ||||||
| Daicel Corp. | 30,400 | 292,203 | ||||||
| Denka Co. Ltd. | 11,200 | 200,444 | ||||||
| DIC Corp. | 9,600 | 158,008 | ||||||
| Fujimi Inc. | 6,700 | 132,540 | ||||||
| Fujimori Kogyo Co. Ltd. | 1,600 | 42,028 | ||||||
| Fuso Chemical Co. Ltd. | 3,200 | 94,842 | ||||||
| JCU Corp. | 3,200 | 85,434 | ||||||
| Kaneka Corp. | 6,400 | 160,864 | ||||||
| Kansai Paint Co. Ltd. | 24,000 | 364,146 | ||||||
| Kanto Denka Kogyo Co. Ltd. | 4,800 | 26,978 | ||||||
| KeePer Technical Laboratory Co. Ltd. | 1,600 | 63,588 | ||||||
| KH Neochem Co. Ltd. | 4,800 | 74,367 | ||||||
| Konishi Co. Ltd. | 3,200 | 55,955 | ||||||
| Kumiai Chemical Industry Co. Ltd. | 9,649 | 71,055 | ||||||
| Kuraray Co. Ltd. | 36,800 | 374,498 | ||||||
| Kureha Corp. | 2,000 | 117,043 | ||||||
| Lintec Corp. | 4,800 | 80,971 | ||||||
| Mitsubishi Gas Chemical Co. Inc. | 20,800 | 329,227 | ||||||
| Nihon Parkerizing Co. Ltd. | 11,200 | 87,562 | ||||||
| Nippon Kayaku Co. Ltd. | 17,600 | 160,661 | ||||||
| Nippon Pillar Packing Co. Ltd. | 1,600 | 49,806 | ||||||
| Nippon Shokubai Co. Ltd. | 3,200 | 115,777 | ||||||
| Nippon Soda Co. Ltd. | 3,200 | 115,503 | ||||||
| NOF Corp. | 8,000 | 369,747 | ||||||
| Okamoto Industries Inc. | 1,600 | 58,931 | ||||||
| Osaka Organic Chemical Industry Ltd. | 1,600 | 28,892 | ||||||
| Osaka Soda Co. Ltd. | 1,600 | 105,396 | ||||||
| Sakata INX Corp. | 4,800 | 42,505 | ||||||
| Sanyo Chemical Industries Ltd. | 1,600 | 46,299 | ||||||
| Shikoku Chemicals Corp. | 3,200 | 37,766 | ||||||
| Shin-Etsu Polymer Co. Ltd. | 4,800 | 46,397 | ||||||
| Showa Denko KK | 22,400 | 419,038 | ||||||
| Sumitomo Bakelite Co. Ltd. | 4,800 | 229,534 | ||||||
| T Hasegawa Co. Ltd. | 4,800 | 104,611 | ||||||
| Taiyo Holdings Co. Ltd. | 4,800 | 97,082 | ||||||
| Takasago International Corp. | 1,600 | 37,983 | ||||||
| Teijin Ltd. | 24,000 | 218,344 | ||||||
| Tenma Corp. | 1,600 | 25,274 | ||||||
| Security | Shares | Value | ||||||
| Chemicals (continued) | ||||||||
| Toagosei Co. Ltd. | 12,800 | $ | 117,812 | |||||
| Tokai Carbon Co. Ltd. | 27,200 | 201,506 | ||||||
| Tokuyama Corp. | 8,000 | 130,044 | ||||||
| Tokyo Ohka Kogyo Co. Ltd. | 4,800 | 296,902 | ||||||
| Toyo Gosei Co. Ltd. | 400 | 18,096 | ||||||
| Toyo Ink SC Holdings Co. Ltd. | 4,800 | 86,551 | ||||||
| Toyobo Co. Ltd. | 11,200 | 79,650 | ||||||
| UBE Corp. | 11,200 | 175,926 | ||||||
| W-Scope Corp.(a)(b) | 6,400 | 39,826 | ||||||
| Zeon Corp. | 17,600 | 163,693 | ||||||
| 7,312,592 | ||||||||
| Commercial Services & Supplies — 1.7% | ||||||||
| Aeon Delight Co. Ltd. | 3,200 | 75,961 | ||||||
| Daiei Kankyo Co. Ltd. | 4,800 | 75,282 | ||||||
| Daiseki Co. Ltd. | 4,812 | 127,477 | ||||||
| Duskin Co. Ltd. | 4,800 | 105,682 | ||||||
| Japan Elevator Service Holdings Co. Ltd. | 9,600 | 152,534 | ||||||
| Kokuyo Co. Ltd. | 11,200 | 174,480 | ||||||
| Kosaido Holdings Co. Ltd. | 8,000 | 34,361 | ||||||
| Matsuda Sangyo Co. Ltd. | 1,660 | 28,694 | ||||||
| Mitsubishi Pencil Co. Ltd. | 3,200 | 40,798 | ||||||
| Nippon Kanzai Holdings Co. Ltd. | 3,200 | 53,805 | ||||||
| Nippon Parking Development Co. Ltd. | 25,600 | 35,230 | ||||||
| Okamura Corp. | 8,000 | 115,595 | ||||||
| Park24 Co. Ltd.(b) | 17,600 | 214,470 | ||||||
| Pilot Corp. | 3,200 | 96,739 | ||||||
| Prestige International Inc. | 12,800 | 56,341 | ||||||
| Raksul Inc.(b) | 6,400 | 61,713 | ||||||
| Sato Holdings Corp. | 3,200 | 44,092 | ||||||
| Sohgo Security Services Co. Ltd. | 51,200 | 296,432 | ||||||
| TRE Holdings Corp. | 6,400 | 48,610 | ||||||
| 1,838,296 | ||||||||
| Construction & Engineering — 3.6% | ||||||||
| Chiyoda Corp.(a)(b) | 20,800 | 49,578 | ||||||
| Chudenko Corp. | 3,200 | 52,569 | ||||||
| COMSYS Holdings Corp. | 14,400 | 311,840 | ||||||
| EXEO Group Inc. | 12,800 | 269,410 | ||||||
| Hazama Ando Corp. | 20,800 | 153,732 | ||||||
| INFRONEER Holdings Inc. | 24,040 | 253,923 | ||||||
| JDC Corp. | 4,800 | 19,129 | ||||||
| JGC Holdings Corp. | 28,800 | 324,529 | ||||||
| Kandenko Co. Ltd. | 14,400 | 129,558 | ||||||
| Kinden Corp. | 16,000 | 240,323 | ||||||
| Kumagai Gumi Co. Ltd. | 4,800 | 110,291 | ||||||
| Kyudenko Corp. | 6,400 | 201,936 | ||||||
| MIRAIT ONE corp. | 12,800 | 159,676 | ||||||
| Nippon Densetsu Kogyo Co. Ltd. | 4,800 | 65,850 | ||||||
| Nippon Road Co. Ltd. (The) | 3,500 | 44,903 | ||||||
| Nishimatsu Construction Co. Ltd. | 4,800 | 126,878 | ||||||
| Okumura Corp. | 3,200 | 97,708 | ||||||
| Penta-Ocean Construction Co. Ltd. | 35,200 | 193,258 | ||||||
| Raito Kogyo Co. Ltd. | 4,800 | 64,236 | ||||||
| Raiznext Corp. | 3,200 | 30,054 | ||||||
| Sanki Engineering Co. Ltd. | 4,800 | 56,733 | ||||||
| SHO-BOND Holdings Co. Ltd. | 4,800 | 195,551 | ||||||
| Sumitomo Densetsu Co. Ltd. | 1,600 | 27,678 | ||||||
| Sumitomo Mitsui Construction Co. Ltd. | 17,600 | 47,291 | ||||||
| Taihei Dengyo Kaisha Ltd. | 1,600 | 41,921 | ||||||
| Taikisha Ltd. | 3,200 | 91,583 | ||||||
| Takamatsu Construction Group Co. Ltd. | 1,600 | 28,521 | ||||||
| Toa Corp. | 1,600 | 38,681 | ||||||
2
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan Small-Cap ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Construction & Engineering (continued) | ||||||||
| Toda Corp. | 30,400 | $ | 173,684 | |||||
| Toenec Corp. | 1,600 | 45,928 | ||||||
| Tokyu Construction Co. Ltd. | 11,240 | 59,901 | ||||||
| Totetsu Kogyo Co. Ltd. | 3,200 | 62,878 | ||||||
| Toyo Construction Co. Ltd. | 6,400 | 57,535 | ||||||
| Yokogawa Bridge Holdings Corp. | 4,800 | 88,480 | ||||||
| Yurtec Corp. | 4,800 | 32,598 | ||||||
| 3,948,344 | ||||||||
| Construction Materials — 0.4% | ||||||||
| Maeda Kosen Co. Ltd. | 1,600 | 31,993 | ||||||
| Mitani Sekisan Co. Ltd. | 1,600 | 47,567 | ||||||
| Sumitomo Osaka Cement Co. Ltd. | 4,800 | 117,135 | ||||||
| Taiheiyo Cement Corp. | 16,000 | 300,725 | ||||||
| 497,420 | ||||||||
| Consumer Finance — 1.0% | ||||||||
| AEON Financial Service Co. Ltd. | 14,400 | 123,387 | ||||||
| Aiful Corp. | 43,200 | 110,721 | ||||||
| Credit Saison Co. Ltd. | 19,200 | 323,854 | ||||||
| J Trust Co. Ltd. | 9,600 | 30,901 | ||||||
| Jaccs Co. Ltd. | 3,200 | 116,178 | ||||||
| Marui Group Co. Ltd. | 24,000 | 383,865 | ||||||
| Orient Corp. | 6,700 | 48,957 | ||||||
| 1,137,863 | ||||||||
| Consumer Staples Distribution & Retail — 3.2% | ||||||||
| Aeon Hokkaido Corp. | 4,800 | 28,930 | ||||||
| Ain Holdings Inc. | 3,200 | 97,426 | ||||||
| Arcs Co. Ltd. | 4,800 | 88,151 | ||||||
| Axial Retailing Inc. | 1,600 | 42,116 | ||||||
| Belc Co. Ltd. | 1,600 | 68,898 | ||||||
| Cawachi Ltd. | 1,600 | 27,556 | ||||||
| Cosmos Pharmaceutical Corp. | 3,200 | 337,764 | ||||||
| Create SD Holdings Co. Ltd. | 3,200 | 66,137 | ||||||
| Daikokutenbussan Co. Ltd. | 500 | 20,857 | ||||||
| Fuji Co. Ltd./Ehime | 3,200 | 40,523 | ||||||
| G-7 Holdings Inc. | 3,200 | 26,024 | ||||||
| Genky DrugStores Co. Ltd. | 1,600 | 55,016 | ||||||
| H2O Retailing Corp. | 12,835 | 142,845 | ||||||
| Heiwado Co. Ltd. | 3,200 | 50,195 | ||||||
| Inageya Co. Ltd. | 3,200 | 32,429 | ||||||
| Kato Sangyo Co. Ltd. | 3,200 | 101,276 | ||||||
| Kusuri no Aoki Holdings Co. Ltd. | 6,000 | 138,804 | ||||||
| Lawson Inc. | 6,400 | 316,029 | ||||||
| Life Corp. | 3,200 | 73,583 | ||||||
| Maxvalu Tokai Co. Ltd. | 1,600 | 32,226 | ||||||
| Mitsubishi Shokuhin Co. Ltd. | 1,600 | 52,595 | ||||||
| Oisix ra daichi Inc.(a)(b) | 3,200 | 30,084 | ||||||
| Retail Partners Co. Ltd. | 3,200 | 38,461 | ||||||
| San-A Co. Ltd. | 3,200 | 99,314 | ||||||
| Shoei Foods Corp. | 1,600 | 48,819 | ||||||
| Sugi Holdings Co. Ltd. | 4,800 | 208,039 | ||||||
| Sundrug Co. Ltd. | 9,600 | 290,061 | ||||||
| Tsuruha Holdings Inc. | 4,800 | 403,228 | ||||||
| United Super Markets Holdings Inc. | 8,000 | 54,604 | ||||||
| Valor Holdings Co. Ltd. | 4,800 | 76,833 | ||||||
| Welcia Holdings Co. Ltd. | 12,800 | 223,089 | ||||||
| Yaoko Co. Ltd. | 3,200 | 174,394 | ||||||
| Yokorei Co. Ltd. | 6,400 | 48,014 | ||||||
| 3,534,320 | ||||||||
| Containers & Packaging — 0.6% | ||||||||
| FP Corp. | 6,500 | 122,622 | ||||||
| Fuji Seal International Inc. | 4,800 | 54,415 | ||||||
| Security | Shares | Value | ||||||
| Containers & Packaging (continued) | ||||||||
| Rengo Co. Ltd. | 25,600 | $ | 161,924 | |||||
| Toyo Seikan Group Holdings Ltd. | 17,600 | 273,482 | ||||||
| 612,443 | ||||||||
| Distributors — 0.2% | ||||||||
| Arata Corp. | 1,600 | 67,633 | ||||||
| Doshisha Co. Ltd. | 3,200 | 45,696 | ||||||
| PALTAC Corp. | 3,200 | 103,075 | ||||||
| 216,404 | ||||||||
| Diversified Consumer Services — 0.2% | ||||||||
| Benesse Holdings Inc. | 9,600 | 169,139 | ||||||
| LITALICO Inc. | 3,200 | 46,198 | ||||||
| Riso Kyoiku Co. Ltd. | 14,400 | 23,394 | ||||||
| 238,731 | ||||||||
| Diversified REITs — 1.9% | ||||||||
| Activia Properties Inc. | 96 | 263,448 | ||||||
| Hankyu Hanshin REIT Inc. | 80 | 76,333 | ||||||
| Heiwa Real Estate REIT Inc. | 128 | 117,050 | ||||||
| Hulic REIT Inc. | 176 | 184,301 | ||||||
| Mori Trust REIT Inc. | 341 | 169,652 | ||||||
| NIPPON REIT Investment Corp. | 64 | 151,224 | ||||||
| NTT UD REIT Investment Corp. | 192 | 165,188 | ||||||
| Sekisui House REIT Inc. | 560 | 320,262 | ||||||
| Star Asia Investment Corp. | 288 | 112,153 | ||||||
| Takara Leben Real Estate Investment Corp. | 96 | 65,774 | ||||||
| Tokyu REIT Inc. | 112 | 136,373 | ||||||
| United Urban Investment Corp. | 368 | 360,130 | ||||||
| 2,121,888 | ||||||||
| Diversified Telecommunication Services — 0.4% | ||||||||
| Internet Initiative Japan Inc. | 14,400 | 258,432 | ||||||
| JTOWER Inc.(a)(b) | 1,600 | 57,917 | ||||||
| Usen-Next Holdings Co. Ltd. | 1,600 | 40,892 | ||||||
| Vision Inc./Tokyo Japan(a)(b) | 4,800 | 37,779 | ||||||
| 395,020 | ||||||||
| Electric Utilities — 1.2% | ||||||||
| Chugoku Electric Power Co. Inc. (The) | 38,400 | 253,900 | ||||||
| Hokkaido Electric Power Co. Inc. | 22,400 | 94,848 | ||||||
| Hokuriku Electric Power Co.(b) | 22,400 | 109,413 | ||||||
| Kyushu Electric Power Co. Inc.(b) | 52,800 | 353,829 | ||||||
| Okinawa Electric Power Co. Inc. (The) | 6,492 | 47,496 | ||||||
| Shikoku Electric Power Co. Inc. | 19,200 | 132,837 | ||||||
| Tohoku Electric Power Co. Inc. | 59,200 | 379,274 | ||||||
| 1,371,597 | ||||||||
| Electrical Equipment — 1.2% | ||||||||
| Daihen Corp. | 3,200 | 126,032 | ||||||
| Fujikura Ltd. | 30,400 | 234,302 | ||||||
| Furukawa Electric Co. Ltd. | 8,000 | 128,740 | ||||||
| GS Yuasa Corp. | 8,000 | 117,760 | ||||||
| Idec Corp. | 3,200 | 61,192 | ||||||
| Mabuchi Motor Co. Ltd. | 6,400 | 200,857 | ||||||
| Mirai Industry Co. Ltd. | 1,600 | 33,940 | ||||||
| Nippon Carbon Co. Ltd. | 1,600 | 50,179 | ||||||
| Nitto Kogyo Corp. | 3,200 | 77,696 | ||||||
| Sanyo Denki Co. Ltd. | 1,600 | 65,938 | ||||||
| Toyo Tanso Co. Ltd. | 1,600 | 49,670 | ||||||
| Ushio Inc. | 12,800 | 164,694 | ||||||
| 1,311,000 | ||||||||
| Electronic Equipment, Instruments & Components — 4.0% | ||||||||
| Ai Holdings Corp. | 4,800 | 80,318 | ||||||
| Alps Alpine Co. Ltd. | 24,000 | 210,102 | ||||||
| Amano Corp. | 6,400 | 135,785 | ||||||
3
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan Small-Cap ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Electronic Equipment, Instruments & Components (continued) | ||||||||
| Anritsu Corp. | 17,600 | $ | 152,495 | |||||
| Canon Electronics Inc. | 1,600 | 21,314 | ||||||
| Canon Marketing Japan Inc. | 6,400 | 161,612 | ||||||
| Citizen Watch Co. Ltd. | 24,000 | 141,086 | ||||||
| Daiwabo Holdings Co. Ltd. | 9,600 | 188,840 | ||||||
| Dexerials Corp. | 8,000 | 251,131 | ||||||
| Enplas Corp. | 800 | 71,982 | ||||||
| Hakuto Co. Ltd. | 1,600 | 59,158 | ||||||
| Hioki E.E. Corp. | 1,600 | 70,934 | ||||||
| Horiba Ltd. | 4,800 | 323,467 | ||||||
| Hosiden Corp. | 4,800 | 58,675 | ||||||
| Iriso Electronics Co. Ltd. | 3,200 | 86,073 | ||||||
| Japan Aviation Electronics Industry Ltd. | 6,400 | 127,605 | ||||||
| Japan Display Inc.(a)(b) | 73,600 | 14,457 | ||||||
| Kaga Electronics Co. Ltd. | 1,600 | 71,782 | ||||||
| Koa Corp. | 3,200 | 35,060 | ||||||
| Macnica Holdings Inc. | 6,400 | 316,804 | ||||||
| Maruwa Co. Ltd./Aichi | 1,200 | 241,656 | ||||||
| Maxell Ltd. | 4,800 | 53,779 | ||||||
| Meiko Electronics Co. Ltd. | 3,200 | 94,284 | ||||||
| Nichicon Corp. | 4,800 | 47,797 | ||||||
| Nippon Ceramic Co. Ltd. | 3,200 | 63,488 | ||||||
| Nippon Electric Glass Co. Ltd. | 11,200 | 236,420 | ||||||
| Nippon Signal Company Ltd. | 4,800 | 31,091 | ||||||
| Nissha Co. Ltd. | 4,800 | 47,996 | ||||||
| Nohmi Bosai Ltd. | 1,600 | 20,377 | ||||||
| Oki Electric Industry Co. Ltd. | 11,200 | 72,417 | ||||||
| Optex Group Co. Ltd. | 4,800 | 55,506 | ||||||
| Restar Holdings Corp. | 1,600 | 29,019 | ||||||
| Riken Keiki Co. Ltd. | 1,600 | 71,801 | ||||||
| Ryosan Co. Ltd. | 1,900 | 63,545 | ||||||
| Ryoyo Electro Corp. | 1,600 | 40,102 | ||||||
| Siix Corp. | 3,200 | 32,905 | ||||||
| Taiyo Yuden Co. Ltd. | 16,000 | 415,368 | ||||||
| Tokyo Electron Device Ltd. | 3,200 | 105,636 | ||||||
| Topcon Corp. | 12,800 | 131,639 | ||||||
| 4,433,506 | ||||||||
| Energy Equipment & Services — 0.0% | ||||||||
| Modec Inc.(b) | 3,200 | 41,192 | ||||||
| Entertainment — 0.8% | ||||||||
| Anycolor Inc.(b) | 3,200 | 83,194 | ||||||
| Avex Inc. | 4,800 | 45,097 | ||||||
| COLOPL Inc. | 6,400 | 26,341 | ||||||
| Cover Corp.(b) | 3,200 | 70,010 | ||||||
| Daiichikosho Co. Ltd. | 9,600 | 145,120 | ||||||
| DeNA Co. Ltd. | 9,600 | 97,527 | ||||||
| Gree Inc. | 8,000 | 30,688 | ||||||
| GungHo Online Entertainment Inc. | 6,400 | 99,014 | ||||||
| Mixi Inc. | 4,800 | 78,388 | ||||||
| Shochiku Co. Ltd. | 1,600 | 101,375 | ||||||
| Toei Animation Co. Ltd.(a) | 700 | 72,673 | ||||||
| Toei Co. Ltd. | 500 | 59,865 | ||||||
| 909,292 | ||||||||
| Financial Services — 1.2% | ||||||||
| eGuarantee Inc. | 4,800 | 63,117 | ||||||
| Financial Products Group Co. Ltd. | 9,600 | 105,722 | ||||||
| Fuyo General Lease Co. Ltd. | 2,100 | 170,887 | ||||||
| GMO Payment Gateway Inc. | 4,800 | 281,894 | ||||||
| Japan Securities Finance Co. Ltd. | 11,200 | 118,128 | ||||||
| Mizuho Leasing Co. Ltd. | 4,800 | 161,414 | ||||||
| Ricoh Leasing Co. Ltd. | 1,600 | 50,204 | ||||||
| Security | Shares | Value | ||||||
| Financial Services (continued) | ||||||||
| Tokyo Century Corp. | 4,800 | $ | 191,732 | |||||
| Zenkoku Hosho Co. Ltd. | 6,400 | 215,996 | ||||||
| 1,359,094 | ||||||||
| Food Products — 4.4% | ||||||||
| Ariake Japan Co. Ltd. | 3,200 | 99,880 | ||||||
| Calbee Inc. | 11,200 | 209,830 | ||||||
| DyDo Group Holdings Inc. | 1,600 | 64,736 | ||||||
| Ezaki Glico Co. Ltd. | 6,400 | 176,669 | ||||||
| Fuji Oil Holdings Inc. | 6,400 | 100,666 | ||||||
| Fujicco Co. Ltd. | 3,200 | 41,853 | ||||||
| Fujiya Co. Ltd. | 1,600 | 27,045 | ||||||
| Hokuto Corp. | 3,200 | 37,875 | ||||||
| House Foods Group Inc. | 8,000 | 174,730 | ||||||
| Itoham Yonekyu Holdings Inc. | 3,540 | 94,570 | ||||||
| J-Oil Mills Inc. | 1,600 | 21,337 | ||||||
| Kagome Co. Ltd. | 9,600 | 206,399 | ||||||
| Kameda Seika Co. Ltd. | 1,600 | 41,916 | ||||||
| Kewpie Corp. | 12,800 | 223,453 | ||||||
| Kotobuki Spirits Co. Ltd. | 12,800 | 202,860 | ||||||
| Maruha Nichiro Corp. | 4,800 | 92,252 | ||||||
| Megmilk Snow Brand Co. Ltd. | 6,400 | 93,701 | ||||||
| Mitsui DM Sugar Holdings Co. Ltd. | 1,600 | 32,656 | ||||||
| Morinaga & Co. Ltd. | 4,800 | 171,097 | ||||||
| Morinaga Milk Industry Co. Ltd. | 9,600 | 179,202 | ||||||
| NH Foods Ltd. | 11,200 | 333,017 | ||||||
| Nichirei Corp. | 14,400 | 314,184 | ||||||
| Nippn Corp., New | 6,400 | 98,258 | ||||||
| Nippon Suisan Kaisha Ltd. | 36,800 | 183,283 | ||||||
| Nisshin Oillio Group Ltd. (The) | 3,200 | 90,724 | ||||||
| Nisshin Seifun Group Inc. | 25,600 | 354,544 | ||||||
| Prima Meat Packers Ltd. | 3,200 | 48,734 | ||||||
| Riken Vitamin Co. Ltd. | 3,200 | 48,781 | ||||||
| S Foods Inc. | 1,600 | 34,662 | ||||||
| Sakata Seed Corp. | 3,200 | 86,309 | ||||||
| Showa Sangyo Co. Ltd. | 3,200 | 66,158 | ||||||
| Toyo Suisan Kaisha Ltd. | 11,200 | 597,619 | ||||||
| Yamazaki Baking Co. Ltd. | 14,400 | 315,173 | ||||||
| 4,864,173 | ||||||||
| Gas Utilities — 0.4% | ||||||||
| Nippon Gas Co. Ltd. | 14,400 | 217,647 | ||||||
| Saibu Gas Holdings Co. Ltd. | 3,200 | 40,504 | ||||||
| Shizuoka Gas Co. Ltd. | 4,800 | 33,127 | ||||||
| Toho Gas Co. Ltd. | 9,600 | 171,180 | ||||||
| 462,458 | ||||||||
| Ground Transportation — 2.5% | ||||||||
| Fukuyama Transporting Co. Ltd. | 3,200 | 79,463 | ||||||
| Keikyu Corp. | 28,800 | 245,717 | ||||||
| Keio Corp. | 12,800 | 368,045 | ||||||
| Kyushu Railway Co. | 17,600 | 367,639 | ||||||
| Maruzen Showa Unyu Co. Ltd. | 1,600 | 40,450 | ||||||
| Nagoya Railroad Co. Ltd. | 24,000 | 351,036 | ||||||
| Nankai Electric Railway Co. Ltd. | 12,800 | 242,484 | ||||||
| Nikkon Holdings Co. Ltd. | 6,400 | 139,140 | ||||||
| Nishi-Nippon Railroad Co. Ltd. | 8,000 | 128,094 | ||||||
| Sakai Moving Service Co. Ltd. | 3,200 | 56,423 | ||||||
| Seibu Holdings Inc. | 32,000 | 386,677 | ||||||
| Seino Holdings Co. Ltd. | 16,000 | 225,157 | ||||||
| Sotetsu Holdings Inc. | 11,200 | 202,987 | ||||||
| 2,833,312 | ||||||||
| Health Care Equipment & Supplies — 1.4% | ||||||||
| CYBERDYNE Inc.(a)(b) | 14,400 | 22,878 | ||||||
4
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan Small-Cap ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Health Care Equipment & Supplies (continued) | ||||||||
| Eiken Chemical Co. Ltd. | 4,800 | $ | 53,491 | |||||
| Fukuda Denshi Co. Ltd. | 1,600 | 71,766 | ||||||
| Hogy Medical Co. Ltd. | 3,200 | 74,107 | ||||||
| Japan Lifeline Co. Ltd. | 8,000 | 63,063 | ||||||
| Jeol Ltd. | 6,400 | 253,969 | ||||||
| Mani Inc. | 9,600 | 142,388 | ||||||
| Menicon Co. Ltd. | 8,000 | 116,578 | ||||||
| Nagaileben Co. Ltd.(a) | 3,200 | 49,109 | ||||||
| Nakanishi Inc. | 8,000 | 129,806 | ||||||
| Nihon Kohden Corp. | 11,200 | 280,514 | ||||||
| Nipro Corp. | 19,200 | 145,267 | ||||||
| Paramount Bed Holdings Co. Ltd. | 4,800 | 89,732 | ||||||
| PHC Holdings Corp. | 3,200 | 32,097 | ||||||
| 1,524,765 | ||||||||
| Health Care Providers & Services — 1.7% | ||||||||
| Alfresa Holdings Corp. | 24,000 | 386,498 | ||||||
| Amvis Holdings Inc. | 4,800 | 93,211 | ||||||
| As One Corp. | 3,200 | 109,746 | ||||||
| BML Inc. | 3,200 | 63,474 | ||||||
| Elan Corp.(a) | 4,800 | 33,093 | ||||||
| H.U. Group Holdings Inc. | 8,000 | 139,232 | ||||||
| Medipal Holdings Corp. | 25,600 | 404,758 | ||||||
| Ship Healthcare Holdings Inc. | 9,600 | 135,634 | ||||||
| Solasto Corp. | 6,400 | 25,458 | ||||||
| SUNWELS Co. Ltd. | 1,600 | 24,690 | ||||||
| Suzuken Co. Ltd. | 8,000 | 272,715 | ||||||
| Toho Holdings Co. Ltd. | 6,400 | 139,638 | ||||||
| Tokai Corp./Gifu | 3,200 | 41,453 | ||||||
| 1,869,600 | ||||||||
| Health Care Technology — 0.2% | ||||||||
| EM Systems Co. Ltd. | 4,800 | 23,034 | ||||||
| JMDC Inc.(a) | 3,200 | 93,084 | ||||||
| Medley Inc.(b) | 3,200 | 95,399 | ||||||
| 211,517 | ||||||||
| Hotel & Resort REITs — 0.7% | ||||||||
| Hoshino Resorts REIT Inc. | 32 | 130,779 | ||||||
| Invincible Investment Corp. | 896 | 362,854 | ||||||
| Japan Hotel REIT Investment Corp. | 608 | 285,030 | ||||||
| 778,663 | ||||||||
| Hotels, Restaurants & Leisure — 3.0% | ||||||||
| Airtrip Corp.(a) | 1,600 | 17,004 | ||||||
| Atom Corp.(b) | 16,000 | 97,407 | ||||||
| Colowide Co. Ltd. | 9,600 | 144,917 | ||||||
| Create Restaurants Holdings Inc. | 16,000 | 113,016 | ||||||
| Curves Holdings Co. Ltd. | 6,400 | 28,857 | ||||||
| Demae-Can Co. Ltd.(a)(b) | 6,400 | 17,483 | ||||||
| Doutor Nichires Holdings Co. Ltd. | 3,200 | 47,478 | ||||||
| Food & Life Companies Ltd. | 14,400 | 278,600 | ||||||
| Fuji Kyuko Co. Ltd. | 3,200 | 93,639 | ||||||
| Fujio Food Group Inc.(b) | 1,600 | 15,583 | ||||||
| Heiwa Corp. | 8,016 | 113,944 | ||||||
| Hiday Hidaka Corp. | 3,284 | 60,968 | ||||||
| HIS Co. Ltd.(b) | 8,000 | 93,067 | ||||||
| Ichibanya Co. Ltd. | 1,600 | 57,584 | ||||||
| Kappa Create Co. Ltd.(b) | 3,200 | 35,736 | ||||||
| KFC Holdings Japan Ltd. | 1,600 | 32,648 | ||||||
| Kisoji Co. Ltd. | 3,200 | 53,808 | ||||||
| KOMEDA Holdings Co. Ltd. | 6,400 | 119,584 | ||||||
| Koshidaka Holdings Co. Ltd. | 6,400 | 45,229 | ||||||
| Kura Sushi Inc. | 3,200 | 79,401 | ||||||
| Kyoritsu Maintenance Co. Ltd. | 3,280 | 127,224 | ||||||
| Security | Shares | Value | ||||||
| Hotels, Restaurants & Leisure (continued) | ||||||||
| Matsuyafoods Holdings Co. Ltd. | 1,600 | $ | 53,993 | |||||
| Monogatari Corp. (The) | 4,800 | 125,849 | ||||||
| MOS Food Services Inc. | 3,200 | 71,999 | ||||||
| Ohsho Food Service Corp. | 1,600 | 86,498 | ||||||
| Resorttrust Inc. | 9,600 | 146,048 | ||||||
| Ringer Hut Co. Ltd. | 3,200 | 49,956 | ||||||
| Round One Corp. | 24,000 | 95,942 | ||||||
| Royal Holdings Co. Ltd. | 4,800 | 86,732 | ||||||
| Saizeriya Co. Ltd. | 3,200 | 123,999 | ||||||
| Skylark Holdings Co. Ltd.(b) | 30,400 | 447,527 | ||||||
| Tokyotokeiba Co. Ltd. | 1,600 | 47,680 | ||||||
| Toridoll Holdings Corp. | 6,400 | 179,596 | ||||||
| Yoshinoya Holdings Co. Ltd. | 8,000 | 176,691 | ||||||
| 3,365,687 | ||||||||
| Household Durables — 2.3% | ||||||||
| Casio Computer Co. Ltd. | 24,000 | 202,748 | ||||||
| Chofu Seisakusho Co. Ltd. | 1,600 | 22,761 | ||||||
| ES-Con Japan Ltd. | 4,800 | 29,707 | ||||||
| Fujitsu General Ltd. | 8,000 | 146,148 | ||||||
| Haseko Corp. | 32,000 | 394,075 | ||||||
| JVCKenwood Corp. | 20,800 | 107,605 | ||||||
| Ki-Star Real Estate Co. Ltd. | 1,600 | 37,760 | ||||||
| Nagawa Co. Ltd.(a) | 1,600 | 72,366 | ||||||
| Nikon Corp. | 40,000 | 386,200 | ||||||
| Pressance Corp. | 3,200 | 32,581 | ||||||
| Rinnai Corp. | 14,400 | 292,721 | ||||||
| Sangetsu Corp. | 6,400 | 124,080 | ||||||
| Sumitomo Forestry Co. Ltd. | 20,800 | 533,942 | ||||||
| Tama Home Co. Ltd.(a) | 1,600 | 37,602 | ||||||
| Tamron Co. Ltd. | 1,600 | 47,733 | ||||||
| Zojirushi Corp. | 6,400 | 67,309 | ||||||
| 2,535,338 | ||||||||
| Household Products — 0.4% | ||||||||
| Earth Corp. | 1,600 | 51,653 | ||||||
| Lion Corp. | 30,400 | 266,100 | ||||||
| Pigeon Corp. | 16,000 | 179,559 | ||||||
| 497,312 | ||||||||
| Independent Power and Renewable Electricity Producers — 0.4% | ||||||||
| Electric Power Development Co. Ltd. | 19,200 | 298,335 | ||||||
| eRex Co. Ltd.(a) | 3,200 | 14,220 | ||||||
| RENOVA Inc.(b) | 4,800 | 34,228 | ||||||
| West Holdings Corp. | 3,280 | 68,540 | ||||||
| 415,323 | ||||||||
| Industrial Conglomerates — 0.5% | ||||||||
| Katakura Industries Co. Ltd. | 1,600 | 18,170 | ||||||
| Keihan Holdings Co. Ltd. | 12,800 | 319,604 | ||||||
| Mie Kotsu Group Holdings Inc. | 6,400 | 24,739 | ||||||
| Nisshinbo Holdings Inc. | 17,600 | 129,527 | ||||||
| Noritsu Koki Co. Ltd. | 1,600 | 32,403 | ||||||
| TOKAI Holdings Corp. | 12,800 | 81,332 | ||||||
| 605,775 | ||||||||
| Industrial REITs — 1.2% | ||||||||
| Advance Logistics Investment Corp. | 80 | 69,493 | ||||||
| CRE Logistics REIT Inc. | 64 | 70,957 | ||||||
| Industrial & Infrastructure Fund Investment Corp. | 256 | 238,578 | ||||||
| Japan Logistics Fund Inc. | 112 | 218,163 | ||||||
| LaSalle Logiport REIT | 240 | 255,449 | ||||||
| Mitsubishi Estate Logistics REIT Investment Corp. | 64 | 165,454 | ||||||
| Mitsui Fudosan Logistics Park Inc. | 80 | 252,187 | ||||||
5
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan Small-Cap ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Industrial REITs (continued) | ||||||||
| SOSiLA Logistics REIT Inc. | 80 | $ | 65,425 | |||||
| 1,335,706 | ||||||||
| Insurance — 0.1% | ||||||||
| Anicom Holdings Inc. | 9,600 | 39,229 | ||||||
| FP Partner Inc. | 1,600 | 54,271 | ||||||
| LIFENET INSURANCE Co.(b) | 8,000 | 58,565 | ||||||
| 152,065 | ||||||||
| Interactive Media & Services — 0.3% | ||||||||
| Bengo4.com Inc.(a)(b) | 1,600 | 50,813 | ||||||
| Infocom Corp. | 3,200 | 53,031 | ||||||
| Kakaku.com Inc. | 17,600 | 199,194 | ||||||
| ZIGExN Co. Ltd. | 6,400 | 23,282 | ||||||
| 326,320 | ||||||||
| IT Services — 2.0% | ||||||||
| Argo Graphics Inc. | 1,600 | 40,427 | ||||||
| Base Co. Ltd. | 1,600 | 35,958 | ||||||
| BIPROGY Inc. | 9,600 | 277,119 | ||||||
| Change Holdings Inc. | 6,400 | 67,410 | ||||||
| Comture Corp. | 3,200 | 43,585 | ||||||
| Digital Garage Inc. | 4,800 | 100,339 | ||||||
| DTS Corp. | 4,800 | 114,222 | ||||||
| Future Corp. | 4,800 | 58,507 | ||||||
| GMO internet group Inc. | 8,000 | 128,317 | ||||||
| Information Services International-Dentsu Ltd. | 3,200 | 106,282 | ||||||
| Mitsubishi Research Institute Inc. | 1,600 | 51,958 | ||||||
| NEC Networks & System Integration Corp. | 9,600 | 139,875 | ||||||
| NET One Systems Co. Ltd. | 11,200 | 155,431 | ||||||
| NS Solutions Corp. | 4,800 | 150,533 | ||||||
| NSD Co. Ltd. | 9,600 | 181,672 | ||||||
| SB Technology Corp. | 1,600 | 27,003 | ||||||
| SHIFT Inc.(a)(b) | 1,600 | 371,194 | ||||||
| Simplex Holdings Inc. | 4,800 | 84,918 | ||||||
| TechMatrix Corp. | 4,800 | 56,160 | ||||||
| Zuken Inc. | 1,600 | 45,882 | ||||||
| 2,236,792 | ||||||||
| Leisure Products — 0.9% | ||||||||
| Fields Corp. | 4,800 | 36,585 | ||||||
| GLOBERIDE Inc. | 1,600 | 21,910 | ||||||
| Mizuno Corp. | 1,600 | 43,799 | ||||||
| Roland Corp. | 1,600 | 49,171 | ||||||
| Sankyo Co. Ltd. | 4,800 | 207,209 | ||||||
| Sega Sammy Holdings Inc. | 20,800 | 301,955 | ||||||
| Snow Peak Inc.(a) | 3,200 | 21,926 | ||||||
| Tomy Co. Ltd. | 11,200 | 157,538 | ||||||
| Universal Entertainment Corp. | 3,200 | 46,739 | ||||||
| Yonex Co. Ltd. | 8,000 | 74,690 | ||||||
| 961,522 | ||||||||
| Life Sciences Tools & Services — 0.0% | ||||||||
| Shin Nippon Biomedical Laboratories Ltd.(a) | 3,200 | 35,596 | ||||||
| Machinery — 7.3% | ||||||||
| Aichi Corp. | 3,200 | 20,192 | ||||||
| Aida Engineering Ltd. | 4,800 | 28,243 | ||||||
| Amada Co. Ltd. | 43,200 | 433,621 | ||||||
| CKD Corp. | 6,400 | 104,503 | ||||||
| Daiwa Industries Ltd. | 3,200 | 31,306 | ||||||
| DMG Mori Co. Ltd. | 14,400 | 259,453 | ||||||
| Ebara Corp. | 12,800 | 727,161 | ||||||
| Fuji Corp./Aichi | 9,600 | 162,771 | ||||||
| Fujitec Co. Ltd. | 6,400 | 148,318 | ||||||
| Fukushima Galilei Co. Ltd. | 1,600 | 53,047 | ||||||
| Security | Shares | Value | ||||||
| Machinery (continued) | ||||||||
| Furukawa Co. Ltd. | 3,200 | $ | 40,531 | |||||
| Giken Ltd. | 1,600 | 20,122 | ||||||
| Glory Ltd. | 4,800 | 89,930 | ||||||
| Harmonic Drive Systems Inc.(a) | 6,400 | 193,661 | ||||||
| Hino Motors Ltd.(b) | 36,800 | 119,227 | ||||||
| Hirata Corp. | 1,600 | 69,075 | ||||||
| Hitachi Zosen Corp. | 20,800 | 127,097 | ||||||
| IHI Corp. | 17,600 | 341,203 | ||||||
| Japan Steel Works Ltd. (The) | 8,000 | 138,545 | ||||||
| Kawasaki Heavy Industries Ltd. | 19,200 | 438,383 | ||||||
| Kitz Corp. | 8,000 | 61,876 | ||||||
| Kurita Water Industries Ltd. | 14,400 | 508,749 | ||||||
| Kyokuto Kaihatsu Kogyo Co. Ltd. | 4,800 | 61,705 | ||||||
| Makino Milling Machine Co. Ltd. | 3,200 | 125,659 | ||||||
| Max Co. Ltd. | 3,200 | 60,925 | ||||||
| Meidensha Corp. | 4,800 | 79,530 | ||||||
| METAWATER Co. Ltd. | 3,200 | 44,313 | ||||||
| Mitsubishi Logisnext Co. Ltd. | 4,800 | 43,010 | ||||||
| Mitsuboshi Belting Ltd. | 3,200 | 96,691 | ||||||
| Miura Co. Ltd. | 11,200 | 217,230 | ||||||
| Morita Holdings Corp. | 4,800 | 49,584 | ||||||
| Nabtesco Corp. | 14,400 | 269,453 | ||||||
| Nachi-Fujikoshi Corp. | 1,600 | 41,048 | ||||||
| NGK Insulators Ltd. | 30,400 | 369,902 | ||||||
| Nikkiso Co. Ltd. | 6,400 | 43,619 | ||||||
| Nitta Corp. | 1,600 | 40,514 | ||||||
| Noritake Co. Ltd./Nagoya Japan | 1,600 | 75,085 | ||||||
| NSK Ltd. | 46,400 | 243,559 | ||||||
| NTN Corp. | 51,200 | 96,263 | ||||||
| Obara Group Inc. | 1,600 | 40,008 | ||||||
| Oiles Corp. | 3,296 | 43,520 | ||||||
| OKUMA Corp. | 3,200 | 134,186 | ||||||
| Organo Corp. | 3,200 | 131,313 | ||||||
| OSG Corp. | 9,600 | 119,735 | ||||||
| Ryobi Ltd. | 3,200 | 62,917 | ||||||
| Shibaura Machine Co. Ltd. | 3,200 | 82,654 | ||||||
| Shibuya Corp. | 1,600 | 27,455 | ||||||
| Shima Seiki Manufacturing Ltd. | 3,200 | 33,254 | ||||||
| Shinmaywa Industries Ltd. | 6,400 | 51,307 | ||||||
| Star Micronics Co. Ltd. | 4,800 | 60,984 | ||||||
| Sumitomo Heavy Industries Ltd. | 14,400 | 344,662 | ||||||
| Tadano Ltd. | 11,200 | 87,847 | ||||||
| Takeuchi Manufacturing Co. Ltd. | 4,800 | 141,001 | ||||||
| Takuma Co. Ltd. | 8,000 | 88,336 | ||||||
| THK Co. Ltd. | 16,000 | 320,345 | ||||||
| Tocalo Co. Ltd. | 6,400 | 62,230 | ||||||
| Tsubakimoto Chain Co. | 3,200 | 81,756 | ||||||
| Tsugami Corp. | 4,800 | 40,020 | ||||||
| Tsurumi Manufacturing Co. Ltd. | 1,600 | 38,473 | ||||||
| Union Tool Co. | 1,600 | 36,591 | ||||||
| YAMABIKO Corp. | 4,800 | 48,347 | ||||||
| 8,152,045 | ||||||||
| Marine Transportation — 0.1% | ||||||||
| Iino Kaiun Kaisha Ltd. | 8,000 | 66,372 | ||||||
| NS United Kaiun Kaisha Ltd. | 1,600 | 52,720 | ||||||
| 119,092 | ||||||||
| Media — 1.1% | ||||||||
| CyberAgent Inc. | 56,000 | 337,904 | ||||||
| Fuji Media Holdings Inc. | 6,400 | 65,986 | ||||||
| Hakuhodo DY Holdings Inc. | 28,800 | 216,690 | ||||||
| Kadokawa Corp. | 11,216 | 201,834 | ||||||
6
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan Small-Cap ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Media (continued) | ||||||||
| Nippon Television Holdings Inc. | 8,000 | $ | 77,973 | |||||
| Septeni Holdings Co. Ltd.(b) | 9,600 | 29,221 | ||||||
| SKY Perfect JSAT Holdings Inc. | 19,200 | 88,024 | ||||||
| TBS Holdings Inc. | 4,800 | 89,173 | ||||||
| TV Asahi Holdings Corp. | 3,200 | 36,261 | ||||||
| ValueCommerce Co. Ltd. | 1,600 | 14,985 | ||||||
| Vector Inc. | 3,200 | 23,652 | ||||||
| Zenrin Co. Ltd. | 4,800 | 29,005 | ||||||
| 1,210,708 | ||||||||
| Metals & Mining — 2.4% | ||||||||
| Asahi Holdings Inc. | 9,600 | 123,713 | ||||||
| Daido Steel Co. Ltd. | 3,200 | 148,178 | ||||||
| Daiki Aluminium Industry Co. Ltd. | 3,200 | 26,129 | ||||||
| Dowa Holdings Co. Ltd. | 6,400 | 227,374 | ||||||
| Kobe Steel Ltd. | 46,400 | 545,034 | ||||||
| Kyoei Steel Ltd. | 3,200 | 45,069 | ||||||
| Maruichi Steel Tube Ltd. | 8,000 | 206,926 | ||||||
| Mitsubishi Materials Corp. | 16,000 | 263,222 | ||||||
| Mitsui Mining & Smelting Co. Ltd. | 6,400 | 196,756 | ||||||
| Nippon Light Metal Holdings Co. Ltd. | 6,400 | 73,057 | ||||||
| Nittetsu Mining Co. Ltd. | 1,600 | 61,220 | ||||||
| OSAKA Titanium Technologies Co. Ltd.(a) | 3,200 | 63,162 | ||||||
| Sanyo Special Steel Co. Ltd. | 3,200 | 56,720 | ||||||
| Toho Titanium Co. Ltd. | 4,800 | 59,687 | ||||||
| Tokyo Steel Manufacturing Co. Ltd. | 8,000 | 97,197 | ||||||
| UACJ Corp. | 4,814 | 112,964 | ||||||
| Yamato Kogyo Co. Ltd. | 4,800 | 242,444 | ||||||
| Yodogawa Steel Works Ltd. | 3,200 | 84,728 | ||||||
| 2,633,580 | ||||||||
| Office REITs — 1.4% | ||||||||
| Daiwa Office Investment Corp. | 32 | 146,198 | ||||||
| Global One Real Estate Investment Corp. | 144 | 111,563 | ||||||
| Ichigo Office REIT Investment Corp. | 128 | 73,229 | ||||||
| Japan Excellent Inc. | 160 | 152,474 | ||||||
| Japan Prime Realty Investment Corp. | 112 | 280,524 | ||||||
| Mirai Corp. | 240 | 71,613 | ||||||
| Mori Hills REIT Investment Corp. | 208 | 197,420 | ||||||
| One REIT Inc. | 32 | 57,437 | ||||||
| Orix JREIT Inc. | 352 | 414,449 | ||||||
| 1,504,907 | ||||||||
| Oil, Gas & Consumable Fuels — 0.9% | ||||||||
| Cosmo Energy Holdings Co. Ltd. | 8,000 | 304,017 | ||||||
| Itochu Enex Co. Ltd. | 6,400 | 66,057 | ||||||
| Iwatani Corp. | 6,400 | 307,588 | ||||||
| Japan Petroleum Exploration Co. Ltd. | 4,800 | 183,453 | ||||||
| Mitsuuroko Group Holdings Co. Ltd. | 4,800 | 42,650 | ||||||
| San-Ai Obbli Co. Ltd. | 6,400 | 69,903 | ||||||
| 973,668 | ||||||||
| Paper & Forest Products — 0.3% | ||||||||
| Daio Paper Corp. | 11,200 | 79,242 | ||||||
| Hokuetsu Corp. | 14,400 | 137,512 | ||||||
| Nippon Paper Industries Co. Ltd.(b) | 12,800 | 115,742 | ||||||
| Tokushu Tokai Paper Co. Ltd. | 1,600 | 40,147 | ||||||
| 372,643 | ||||||||
| Personal Care Products — 1.3% | ||||||||
| Euglena Co. Ltd.(a)(b) | 12,800 | 64,555 | ||||||
| Fancl Corp. | 11,200 | 172,608 | ||||||
| Kobayashi Pharmaceutical Co. Ltd. | 6,400 | 294,402 | ||||||
| Mandom Corp. | 4,800 | 41,374 | ||||||
| Milbon Co. Ltd. | 3,200 | 79,931 | ||||||
| Noevir Holdings Co. Ltd. | 1,600 | 56,428 | ||||||
| Security | Shares | Value | ||||||
| Personal Care Products (continued) | ||||||||
| Pola Orbis Holdings Inc. | 12,800 | $ | 135,086 | |||||
| Rohto Pharmaceutical Co. Ltd. | 25,600 | 535,612 | ||||||
| YA-MAN Ltd.(a) | 3,200 | 22,912 | ||||||
| 1,402,908 | ||||||||
| Pharmaceuticals — 2.0% | ||||||||
| Hisamitsu Pharmaceutical Co. Inc. | 6,400 | 200,020 | ||||||
| JCR Pharmaceuticals Co. Ltd. | 9,600 | 86,193 | ||||||
| Kaken Pharmaceutical Co. Ltd. | 4,800 | 109,846 | ||||||
| Kissei Pharmaceutical Co. Ltd. | 3,200 | 66,167 | ||||||
| Kyorin Pharmaceutical Co. Ltd. | 4,800 | 59,352 | ||||||
| Mochida Pharmaceutical Co. Ltd. | 3,200 | 72,719 | ||||||
| Nippon Shinyaku Co. Ltd. | 6,400 | 231,297 | ||||||
| Santen Pharmaceutical Co. Ltd. | 44,800 | 424,700 | ||||||
| Sawai Group Holdings Co. Ltd. | 4,800 | 160,095 | ||||||
| Sosei Group Corp.(b) | 9,600 | 90,325 | ||||||
| Sumitomo Pharma Co., Ltd. | 24,000 | 76,133 | ||||||
| Taisho Pharmaceutical Holdings Co. Ltd. | 6,400 | 376,684 | ||||||
| Torii Pharmaceutical Co. Ltd. | 1,600 | 39,537 | ||||||
| Towa Pharmaceutical Co. Ltd. | 3,200 | 53,440 | ||||||
| Tsumura & Co. | 8,000 | 151,315 | ||||||
| ZERIA Pharmaceutical Co. Ltd. | 3,200 | 43,888 | ||||||
| 2,241,711 | ||||||||
| Professional Services — 2.5% | ||||||||
| Bell System24 Holdings Inc. | 4,800 | 53,977 | ||||||
| Benefit One Inc.(a) | 9,600 | 98,190 | ||||||
| BeNext-Yumeshin Group Co. | 8,016 | 116,971 | ||||||
| Dip Corp. | 4,800 | 102,638 | ||||||
| en Japan Inc. | 4,800 | 83,988 | ||||||
| Fullcast Holdings Co. Ltd. | 3,200 | 41,478 | ||||||
| Funai Soken Holdings Inc. | 4,800 | 81,829 | ||||||
| Infomart Corp. | 25,600 | 76,137 | ||||||
| Insource Co. Ltd. | 6,400 | 41,243 | ||||||
| JAC Recruitment Co. Ltd. | 3,200 | 57,636 | ||||||
| Link And Motivation Inc. | 6,400 | 25,382 | ||||||
| Management Solutions Co. Ltd. | 1,600 | 31,551 | ||||||
| Meitec Corp. | 9,600 | 186,060 | ||||||
| Nihon M&A Center Holdings Inc. | 40,000 | 185,092 | ||||||
| Nomura Co. Ltd. | 9,600 | 54,590 | ||||||
| Outsourcing Inc. | 14,400 | 117,264 | ||||||
| Pasona Group Inc. | 3,200 | 50,712 | ||||||
| Persol Holdings Co. Ltd. | 243,200 | 417,964 | ||||||
| SMS Co. Ltd. | 9,600 | 182,356 | ||||||
| TechnoPro Holdings Inc. | 14,400 | 334,904 | ||||||
| TKC Corp. | 3,200 | 76,515 | ||||||
| Transcosmos Inc. | 3,200 | 67,067 | ||||||
| UT Group Co. Ltd.(b) | 3,200 | 47,915 | ||||||
| Visional Inc.(a)(b) | 3,200 | 171,990 | ||||||
| WDB Holdings Co. Ltd. | 1,600 | 24,997 | ||||||
| 2,728,446 | ||||||||
| Real Estate Management & Development — 1.6% | ||||||||
| Aeon Mall Co. Ltd. | 11,200 | 130,142 | ||||||
| Goldcrest Co. Ltd. | 1,600 | 21,683 | ||||||
| Heiwa Real Estate Co. Ltd. | 3,200 | 87,343 | ||||||
| Ichigo Inc. | 32,000 | 76,150 | ||||||
| Katitas Co. Ltd. | 6,400 | 92,559 | ||||||
| Keihanshin Building Co. Ltd. | 4,800 | 46,023 | ||||||
| Leopalace21 Corp.(b) | 24,000 | 76,700 | ||||||
| Relo Group Inc. | 12,800 | 134,266 | ||||||
| SAMTY Co. Ltd. | 3,200 | 50,681 | ||||||
| SRE Holdings Corp.(a)(b) | 1,600 | 29,963 | ||||||
| Starts Corp. Inc. | 4,800 | 90,533 | ||||||
7
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan Small-Cap ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Real Estate Management & Development (continued) | ||||||||
| Sun Frontier Fudousan Co. Ltd. | 3,200 | $ | 33,755 | |||||
| TKP Corp.(b) | 1,600 | 22,215 | ||||||
| Tokyo Tatemono Co. Ltd. | 25,600 | 364,414 | ||||||
| Tokyu Fudosan Holdings Corp. | 81,600 | 504,937 | ||||||
| Tosei Corp. | 3,200 | 39,019 | ||||||
| 1,800,383 | ||||||||
| Residential REITs — 1.0% | ||||||||
| Advance Residence Investment Corp. | 176 | 386,062 | ||||||
| Comforia Residential REIT Inc. | 96 | 206,086 | ||||||
| Daiwa Securities Living Investments Corp. | 272 | 200,761 | ||||||
| Nippon Accommodations Fund Inc. | 64 | 262,567 | ||||||
| Samty Residential Investment Corp. | 48 | 36,449 | ||||||
| Starts Proceed Investment Corp. | 32 | 44,295 | ||||||
| 1,136,220 | ||||||||
| Retail REITs — 0.5% | ||||||||
| AEON REIT Investment Corp. | 224 | 217,417 | ||||||
| Frontier Real Estate Investment Corp. | 64 | 195,849 | ||||||
| Fukuoka REIT Corp. | 80 | 89,822 | ||||||
| 503,088 | ||||||||
| Semiconductors & Semiconductor Equipment — 3.1% | ||||||||
| Abalance Corp.(a) | 1,600 | 40,685 | ||||||
| Ferrotec Holdings Corp. | 6,400 | 129,279 | ||||||
| Japan Material Co. Ltd. | 8,000 | 140,433 | ||||||
| Megachips Corp. | 1,600 | 45,713 | ||||||
| Micronics Japan Co. Ltd. | 3,200 | 82,866 | ||||||
| Mimasu Semiconductor Industry Co. Ltd. | 1,600 | 30,023 | ||||||
| Mitsui High-Tec Inc.(a) | 3,200 | 160,000 | ||||||
| Optorun Co. Ltd. | 3,200 | 35,282 | ||||||
| Rorze Corp. | 1,600 | 157,119 | ||||||
| RS Technologies Co. Ltd. | 1,600 | 30,947 | ||||||
| Sanken Electric Co. Ltd. | 3,200 | 163,545 | ||||||
| SCREEN Holdings Co. Ltd. | 10,816 | 786,819 | ||||||
| Shibaura Mechatronics Corp. | 1,200 | 54,345 | ||||||
| Shinko Electric Industries Co. Ltd. | 9,600 | 359,162 | ||||||
| Socionext Inc. | 4,900 | 438,112 | ||||||
| Tokyo Seimitsu Co. Ltd. | 4,800 | 277,848 | ||||||
| Towa Corp. | 3,200 | 152,381 | ||||||
| Tri Chemical Laboratories Inc. | 3,200 | 75,910 | ||||||
| Ulvac Inc. | 6,400 | 281,306 | ||||||
| 3,441,775 | ||||||||
| Software — 1.5% | ||||||||
| Appier Group Inc.(b) | 8,000 | 88,358 | ||||||
| Cybozu Inc. | 3,200 | 44,870 | ||||||
| Digital Arts Inc. | 1,600 | 52,027 | ||||||
| Freee KK(a)(b) | 6,400 | 147,547 | ||||||
| Fuji Soft Inc. | 6,400 | 258,860 | ||||||
| Fukui Computer Holdings Inc. | 1,600 | 28,562 | ||||||
| I’ll Inc. | 1,600 | 38,527 | ||||||
| Justsystems Corp. | 4,800 | 107,794 | ||||||
| Money Forward Inc.(b) | 6,400 | 195,775 | ||||||
| OBIC Business Consultants Co. Ltd. | 3,200 | 145,758 | ||||||
| PKSHA Technology Inc.(a)(b) | 3,200 | 67,557 | ||||||
| Plus Alpha Consulting Co. Ltd. | 3,200 | 58,784 | ||||||
| Rakus Co. Ltd. | 11,200 | 200,997 | ||||||
| Sansan Inc.(b) | 9,600 | 99,732 | ||||||
| Systena Corp. | 35,200 | 70,486 | ||||||
| WingArc1st Inc. | 3,200 | 71,023 | ||||||
| 1,676,657 | ||||||||
| Specialty Retail — 2.6% | ||||||||
| ABC-Mart Inc. | 12,800 | 210,875 | ||||||
| Adastria Co. Ltd. | 3,200 | 82,167 | ||||||
| Security | Shares | Value | ||||||
| Specialty Retail (continued) | ||||||||
| Alpen Co. Ltd. | 1,600 | $ | 21,077 | |||||
| AOKI Holdings Inc. | 4,800 | 38,408 | ||||||
| ARCLANDS Corp. | 6,279 | 69,881 | ||||||
| Autobacs Seven Co. Ltd. | 8,000 | 83,465 | ||||||
| Bic Camera Inc. | 12,800 | 105,463 | ||||||
| DCM Holdings Co. Ltd. | 14,400 | 124,312 | ||||||
| EDION Corp. | 9,600 | 96,193 | ||||||
| Geo Holdings Corp. | 3,200 | 50,799 | ||||||
| IDOM Inc. | 6,400 | 39,897 | ||||||
| JINS Holdings Inc. | 1,600 | 50,685 | ||||||
| Joshin Denki Co. Ltd. | 1,600 | 24,995 | ||||||
| Joyful Honda Co. Ltd. | 6,400 | 77,442 | ||||||
| Kohnan Shoji Co. Ltd. | 3,200 | 79,899 | ||||||
| Komeri Co. Ltd. | 4,800 | 102,157 | ||||||
| K’s Holdings Corp. | 19,200 | 163,239 | ||||||
| Nafco Co. Ltd. | 1,600 | 20,187 | ||||||
| Nextage Co. Ltd. | 6,400 | 99,058 | ||||||
| Nishimatsuya Chain Co. Ltd. | 4,800 | 69,865 | ||||||
| Nojima Corp. | 8,000 | 75,449 | ||||||
| PAL GROUP Holdings Co. Ltd. | 4,800 | 75,725 | ||||||
| Sanrio Co. Ltd. | 6,400 | 262,025 | ||||||
| Shimamura Co. Ltd. | 3,200 | 357,668 | ||||||
| T-Gaia Corp. | 1,600 | 19,824 | ||||||
| United Arrows Ltd. | 3,200 | 42,377 | ||||||
| VT Holdings Co. Ltd. | 9,600 | 33,988 | ||||||
| Workman Co. Ltd.(a) | 3,200 | 99,605 | ||||||
| Yamada Holdings Co. Ltd. | 76,800 | 222,107 | ||||||
| Yellow Hat Ltd. | 4,800 | 57,673 | ||||||
| 2,856,505 | ||||||||
| Technology Hardware, Storage & Peripherals — 0.5% | ||||||||
| Eizo Corp. | 1,600 | 52,751 | ||||||
| Elecom Co. Ltd. | 4,800 | 52,662 | ||||||
| Konica Minolta Inc.(b) | 59,200 | 187,554 | ||||||
| MCJ Co. Ltd. | 8,000 | 58,070 | ||||||
| Riso Kagaku Corp. | 3,200 | 59,689 | ||||||
| Toshiba TEC Corp. | 4,800 | 94,426 | ||||||
| Wacom Co. Ltd. | 19,200 | 89,332 | ||||||
| 594,484 | ||||||||
| Textiles, Apparel & Luxury Goods — 1.3% | ||||||||
| Asics Corp. | 20,800 | 745,440 | ||||||
| Descente Ltd. | 4,800 | 138,583 | ||||||
| Goldwin Inc. | 3,200 | 250,147 | ||||||
| Gunze Ltd. | 1,600 | 51,990 | ||||||
| Japan Wool Textile Co. Ltd. (The) | 6,400 | 56,009 | ||||||
| Onward Holdings Co. Ltd. | 12,800 | 43,367 | ||||||
| Seiko Group Corp. | 3,200 | 54,471 | ||||||
| Wacoal Holdings Corp. | 4,800 | 105,813 | ||||||
| 1,445,820 | ||||||||
| Trading Companies & Distributors — 1.7% | ||||||||
| Hanwa Co. Ltd. | 4,800 | 148,254 | ||||||
| Inaba Denki Sangyo Co. Ltd. | 6,400 | 141,834 | ||||||
| Inabata & Co. Ltd. | 4,800 | 102,775 | ||||||
| Japan Pulp & Paper Co. Ltd. | 1,600 | 54,019 | ||||||
| Kanamoto Co. Ltd. | 3,200 | 55,843 | ||||||
| Kanematsu Corp. | 9,600 | 133,408 | ||||||
| MARUKA FURUSATO Corp. | 3,200 | 58,470 | ||||||
| Nagase & Co. Ltd. | 11,200 | 176,127 | ||||||
| Nichiden Corp. | 1,600 | 28,667 | ||||||
| Nishio Holdings Co. Ltd. | 3,200 | 78,737 | ||||||
| Sojitz Corp. | 28,800 | 642,357 | ||||||
| Trusco Nakayama Corp. | 6,400 | 102,870 | ||||||
8
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan Small-Cap ETF |
| November 30, 2023 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Trading Companies & Distributors (continued) | ||||||||
| Wakita & Co. Ltd. | 4,800 | $ | 48,223 | |||||
| Yamazen Corp. | 6,400 | 51,985 | ||||||
| Yuasa Trading Co. Ltd. | 1,600 | 47,974 | ||||||
| 1,871,543 | ||||||||
| Transportation Infrastructure — 0.8% | ||||||||
| Japan Airport Terminal Co. Ltd. | 8,000 | 350,930 | ||||||
| Kamigumi Co. Ltd. | 12,800 | 280,153 | ||||||
| Mitsubishi Logistics Corp. | 6,400 | 192,119 | ||||||
| Sumitomo Warehouse Co. Ltd. (The) | 6,400 | 105,501 | ||||||
| 928,703 | ||||||||
| Wireless Telecommunication Services — 0.1% | ||||||||
| Okinawa Cellular Telephone Co. | 3,200 | 72,499 | ||||||
| Total Long-Term Investments — 99.0% | ||||||||
| (Cost: $121,624,924) | 110,129,991 | |||||||
| Short-Term Securities | ||||||||
| Money Market Funds — 2.7% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 5.54%(c)(d)(e) | 2,925,119 | 2,926,581 | ||||||
| Security | Shares | Value | ||||||
| Money Market Funds (continued) | ||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 5.34%(c)(d) | 40,000 | $ | 40,000 | |||||
| Total Short-Term Securities — 2.7% | ||||||||
| (Cost: $2,966,174) | 2,966,581 | |||||||
| Total Investments — 101.7% | ||||||||
| (Cost: $124,591,098) | 113,096,572 | |||||||
| Liabilities in Excess of Other Assets — (1.7)% | (1,848,594 | ) | ||||||
| Net Assets — 100.0% | $ | 111,247,978 | ||||||
| (a) | All or a portion of this security is on loan. |
| (b) | Non-income producing security. |
| (c) | Affiliate of the Fund. |
| (d) | Annualized 7-day yield as of period end. |
| (e) | 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 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 | $ | 2,382,293 | $ | 543,771 | (a) | $ | — | $ | 3 | $ | 514 | $ | 2,926,581 | 2,925,119 | $ | 15,810 | (b) | $ | — | |||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 50,000 | — | (10,000 | )(a) | — | — | 40,000 | 40,000 | 395 | — | ||||||||||||||||||||||||||
| $ | 3 | $ | 514 | $ | 2,966,581 | $ | 16,205 | $ | — |
| ||||||||||||||||||||||||||
| (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 | ||||||||||||||
| Mini TOPIX Index | 67 | 12/07/23 | $ | 1,076 | $ | 21,408 | ||||||||
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 |
9
| Schedule of Investments (unaudited) (continued) | iShares® MSCI Japan Small-Cap ETF |
| November 30, 2023 |
Fair Value Hierarchy as of Period End (continued)
| ● | 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 | $ | 751,804 | $ | 109,378,187 | $ | — | $ | 110,129,991 | ||||||||
| Short-Term Securities | ||||||||||||||||
| Money Market Funds | 2,966,581 | — | — | 2,966,581 | ||||||||||||
| $ | 3,718,385 | $ | 109,378,187 | $ | — | $ | 113,096,572 | |||||||||
| Derivative Financial Instruments(a) | ||||||||||||||||
| Assets | ||||||||||||||||
| Equity Contracts | $ | — | $ | 21,408 | $ | — | $ | 21,408 | ||||||||
| (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 |
10