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

Security	Shares		Value
Common Stocks
Banks — 4.3%
Banco Bradesco SA		18,403,075	$	53,391,557
Banco do Brasil SA		13,184,595		145,371,943
Banco Santander Brasil SA		6,726,177		42,362,732
				241,126,232
Beverages — 3.2%
Ambev SA		64,167,482		178,472,959
Broadline Retail — 0.3%
Magazine Luiza SA(a)		43,696,611		17,933,006
Capital Markets — 5.8%
B3 SA - Brasil, Bolsa, Balcao		80,337,372		217,081,714
Banco BTG Pactual SA		15,521,449		112,073,688
				329,155,402
Consumer Staples Distribution & Retail — 2.9%
Atacadao SA		9,075,092		20,908,269
Raia Drogasil SA		17,718,775		101,084,548
Sendas Distribuidora SA		15,914,976		41,807,913
				163,800,730
Containers & Packaging — 1.0%
Klabin SA		11,890,763		54,524,948
Diversified Telecommunication Services — 1.4%
Telefonica Brasil SA		7,488,540		80,270,491
Electric Utilities — 5.3%
Centrais Eletricas Brasileiras SA		16,239,108		134,807,642
CPFL Energia SA		3,238,539		24,377,621
Energisa SA		2,514,269		26,960,945
Equatorial Energia SA		16,289,196		112,719,297
				298,865,505
Electrical Equipment — 3.1%
WEG SA		24,868,719		172,745,401
Food Products — 1.0%
JBS SA		12,279,328		57,903,354
Ground Transportation — 4.7%
Localiza Rent a Car SA		13,631,594		166,280,494
Localiza Rent a Car SA, NVS(a)		100,005		1,147,953
Rumo SA		20,544,570		95,584,290
				263,012,737
Health Care Providers & Services — 1.7%
Hapvida Participacoes e Investimentos SA(a)(b)		68,197,342		60,548,427
Rede D’Or Sao Luiz SA(b)		6,915,467		37,372,928
				97,921,355
Independent Power and Renewable Electricity Producers — 1.0%
Eneva SA(a)		9,058,602		23,354,834
Engie Brasil Energia SA		3,906,811		34,527,540
				57,882,374
Insurance — 1.3%
BB Seguridade Participacoes SA		11,201,848		71,234,108
Metals & Mining — 13.4%
Cia. Siderurgica Nacional SA		11,104,809		37,045,736
Vale SA		47,779,407		716,877,969
				753,923,705
Oil, Gas & Consumable Fuels — 11.0%
Cosan SA		16,771,922		60,483,257
Petroleo Brasileiro SA		51,516,870		394,588,840
PRIO SA(a)		10,480,336		97,797,022

Security	Shares		Value
Oil, Gas & Consumable Fuels (continued)
Ultrapar Participacoes SA		12,894,045	$	66,146,146
				619,015,265
Paper & Forest Products — 2.2%
Suzano SA		11,430,786		124,896,673
Personal Care Products — 0.8%
Natura & Co. Holding SA(a)		13,543,194		45,372,816
Pharmaceuticals — 0.8%
Hypera SA		6,605,544		45,333,809
Software — 0.7%
TOTVS SA		6,170,820		41,761,058
Specialty Retail — 2.1%
Lojas Renner SA		15,302,928		50,895,243
Vibra Energia SA		14,637,929		69,441,725
				120,336,968
Transportation Infrastructure — 1.0%
CCR SA		20,187,159		55,532,580
Water Utilities — 1.4%
Cia. de Saneamento Basico do Estado de Sao Paulo		5,677,843		77,934,006
Wireless Telecommunication Services — 1.0%
Tim SA		15,455,948		54,136,090
Total Common Stocks — 71.4%
(Cost: $2,494,335,021)				4,023,091,572
Preferred Stocks
Banks — 14.4%
Banco Bradesco SA, Preference Shares, NVS		71,878,332		237,596,217
Itau Unibanco Holding SA, Preference Shares, NVS		67,175,576		431,136,711
Itausa SA, Preference Shares, NVS		70,980,452		140,603,896
				809,336,824
Electric Utilities — 2.0%
Centrais Eletricas Brasileiras SA, Class B, Preference  Shares, NVS		4,417,114		40,266,942
Cia. Energetica de Minas Gerais, Preference  Shares, NVS		22,977,814		51,678,549
Cia. Paranaense de Energia, Preference Shares, NVS		10,309,201		19,813,907
				111,759,398
Metals & Mining — 1.4%
Gerdau SA, Preference Shares, NVS		18,017,802		79,984,757
Oil, Gas & Consumable Fuels — 8.5%
Petroleo Brasileiro SA, Preference Shares, NVS		66,110,537		482,325,329
Total Preferred Stocks — 26.3%
(Cost: $901,350,667)				1,483,406,308
Total Long-Term Investments — 97.7%
(Cost: $3,395,685,688)				5,506,497,880

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

Security	Shares		Value
Short-Term Securities
Money Market Funds — 0.2%
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.34%(c)(d)		11,640,000	$	11,640,000
Total Short-Term Securities — 0.2%
(Cost: $11,640,000)				11,640,000
Total Investments — 97.9%
(Cost: $3,407,325,688)				5,518,137,880
Other Assets Less Liabilities — 2.1%				119,173,509
Net Assets — 100.0%			$	5,637,311,389

(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)	Affiliate of the Fund.

^(d)         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	$	12,030,000	$	—	$	(390,000	)(a)	$	—	$	—	$	11,640,000		11,640,000	$	193,686	$	—

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

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
Bclear MSCI Brazil Index		2,106	12/15/23	$	123,920	$	4,246,742

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

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

Fair Value Hierarchy as of Period End (continued)

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	$	4,023,091,572	$	—	$	—	$	4,023,091,572
Preferred Stocks		1,483,406,308		—		—		1,483,406,308
Short-Term Securities
Money Market Funds		11,640,000		—		—		11,640,000
	$	5,518,137,880	$	—	$	—	$	5,518,137,880
Derivative Financial Instruments(a)
Assets
Equity Contracts	$	4,246,742	$	—	$	—	$	4,246,742

^(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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