Schedule of Investments (unaudited)	iShares® MSCI Russia ETF
November 30, 2023	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Banks — 0.1%
Sberbank of Russia PJSC(a)		18,835,860	$	2,094
TCS Group Holding PLC, GDR(a)(b)(c)		289,152		32
VTB Bank PJSC(a)(b)		8,307,845,016		923
				3,049
Broadline Retail — 0.0%
Ozon Holdings PLC, ADR(a)(b)		106,824		12
Capital Markets — 0.0%
Moscow Exchange MICEX-RTS PJSC(a)		4,737,800		526
Chemicals — 0.0%
PhosAgro PJSC(a)(b)		148,802		16
PhosAgro PJSC, New(a)		2,875		29
PhosAgro PJSC, GDR(a)(b)(c)		2		—
				45
Consumer Staples Distribution & Retail — 0.0%
X5 Retail Group NV, GDR(a)(b)		374,475		42
Electric Utilities — 0.3%
Inter RAO UES PJSC(a)		136,938,300		15,220
Interactive Media & Services — 0.0%
VK Co. Ltd.(a)(b)		393,252		44
Yandex NV(a)(b)		361,376		40
				84
Metals & Mining — 0.0%
Alrosa PJSC(a)		7,486,250		832
MMC Norilsk Nickel PJSC(a)(b)		96,437		11
Novolipetsk Steel PJSC(a)(b)		4,388,590		488
Polymetal International PLC(a)(b)		834,056		93
Polyus PJSC(a)(b)		89,129		10
Severstal PAO(a)(b)		604,068		67
United Co. RUSAL International PJSC(a)(b)		5,811,330		646
				2,147
Oil, Gas & Consumable Fuels — 0.1%
Gazprom PJSC(a)(b)		24,553,290		2,729
LUKOIL PJSC(a)		856,438		95
Novatek PJSC(a)		1,250,860		139

Security	Shares		Value
Oil, Gas & Consumable Fuels (continued)
Rosneft Oil Co. PJSC(a)		2,566,222	$	285
Surgutneftegas PJSC(a)		21,799,946		2,423
Tatneft PJSC(a)		3,516,781		391
				6,062
Wireless Telecommunication Services — 0.0%
Mobile TeleSystems PJSC(a)		2,776,444		308
Total Common Stocks — 0.5%
(Cost: $440,387,123)				27,495
Preferred Stocks
Oil, Gas & Consumable Fuels — 0.1%
Surgutneftegas PJSC, Preference Shares, NVS(a)		21,745,700		2,417
Total Preferred Stocks — 0.1%
(Cost: $11,913,762)				2,417
Total Long-Term Investments — 0.6%
(Cost: $452,300,885)				29,912
Short-Term Securities
Money Market Funds — 99.2%
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.34%(d)(e)		5,270,000		5,270,000
Total Short-Term Securities — 99.2%
(Cost: $5,270,000)				5,270,000
Total Investments — 99.8%
(Cost: $457,570,885)				5,299,912
Other Assets Less Liabilities — 0.2%				12,207
Net Assets — 100.0%			$	5,312,119

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

^(b)  Non-income producing security.

^(c)  This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^(d)  Affiliate of the Fund.

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

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: Treasury, SL Agency Shares	$	450,000	$	4,820,000	(a)	$	—	$	—	$	—	$	5,270,000		5,270,000	$	12,355	$	—

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

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;

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Russia ETF
November 30, 2023

Fair Value Hierarchy as of Period End (continued)

● 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	$	—	$	—	$	27,495	$	27,495
Preferred Stocks		—		—		2,417		2,417
Short-Term Securities
Money Market Funds		5,270,000		—		—		5,270,000
	$	5,270,000	$	—	$	29,912	$	5,299,912

A reconciliation of Level 3 financial instruments is presented when the Fund had a significant amount of Level 3 investments and derivative financial instruments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

	Common Stocks			Preferred Stocks		Total
Assets:
Opening balance, as of August 31, 2023	$	25,825		$	2,268	$	28,093
Transfers into Level 3		—			—		—
Transfers out of Level 3		—			—		—
Accrued discounts/premiums		—			—		—
Net realized gain (loss)		(8,341,437	)		—		(8,341,437	)
Net change in unrealized appreciation (depreciation)(a)		13,152,362			149		13,152,511
Purchases		10,577,297			—		10,577,297
Sales		(15,386,552	)		—		(15,386,552	)
Closing balance, as of November 30, 2023	$	27,495		$	2,417	$	29,912
Net change in unrealized appreciation (depreciation) on investments still held at November 30, 2023(a)	$	13,152,362		$	149	$	13,152,511

^(a) Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at November 30, 2023 is generallydue to investments no longer held or categorized as Level 3 at year end.

Portfolio Abbreviation

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

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