NPORT-EX 2 NPORT_0BQM_60037813_1123.htm

 

Schedule of Investments (unaudited) iShares® MSCI Emerging Markets Min Vol Factor ETF
November 30, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Brazil — 0.6%          
Energisa SA   207,034   $2,220,062 
Equatorial Energia SA   627,305    4,340,876 
Raia Drogasil SA   1,088,152    6,207,842 
Telefonica Brasil SA   670,932    7,191,794 
Tim SA   1,439,785    5,042,999 
         25,003,573 
Chile — 0.1%          
Enel Americas SA(a)   24,240,337    2,822,179 
           
China — 23.4%          
360 Security Technology Inc., Class A(a)   4,419,500    5,371,687 
3SBio Inc.(b)   3,309,500    3,075,925 
Agricultural Bank of China Ltd., Class H   166,213,000    61,354,733 
Anhui Gujing Distillery Co. Ltd., Class B   1,403,073    21,291,618 
Anjoy Foods Group Co. Ltd., Class A   165,200    2,636,136 
Anker Innovations Technology Co. Ltd.   305,700    3,780,744 
Asia - Potash International Investment Guangzhou Co. Ltd.(a)   749,471    2,846,255 
Bank of China Ltd., Class H   160,260,000    58,717,514 
Bank of Communications Co. Ltd., Class A   4,067,974    3,322,677 
Bank of Communications Co. Ltd., Class H   11,174,000    6,586,264 
Bank of Shanghai Co. Ltd., Class A   4,445,011    3,663,524 
Beijing Kingsoft Office Software Inc., Class A   47,000    1,984,554 
Beijing Tiantan Biological Products Corp. Ltd., Class A   1,241,000    5,561,994 
Beijing-Shanghai High Speed Railway Co. Ltd., Class A   28,543,400    20,164,406 
BGI Genomics Co. Ltd., Class A   320,700    2,303,251 
BOE Technology Group Co. Ltd., Class A   26,140,200    14,150,499 
Brilliance China Automotive Holdings Ltd.   12,404,000    6,653,535 
BYD Electronic International Co. Ltd.   526,500    2,402,894 
Cambricon Technologies Corp. Ltd.(a)   91,870    1,933,619 
CGN Power Co. Ltd., Class H(b)   95,245,000    22,939,909 
Changchun High & New Technology Industry Group Inc., Class A   95,100    2,137,246 
China CITIC Bank Corp. Ltd., Class H   43,567,000    19,680,417 
China Construction Bank Corp., Class A   7,346,984    6,576,205 
China Construction Bank Corp., Class H   45,284,000    26,182,909 
China Eastern Airlines Corp. Ltd., Class A(a)   4,242,800    2,492,624 
China Huishan Dairy Holdings Co. Ltd.(c)   5,944,807    8 
China Life Insurance Co. Ltd., Class H   1,643,000    2,225,427 
China Mengniu Dairy Co. Ltd.   740,000    2,318,706 
China Minsheng Banking Corp. Ltd., Class A   16,185,054    8,720,499 
China Petroleum & Chemical Corp., Class H   11,402,000    5,851,883 
China Railway Signal & Communication Corp. Ltd., Class A   5,803,200    3,529,171 
China Resources Microelectronics Ltd.   995,678    6,545,593 
China Resources Pharmaceutical Group Ltd.(b)   3,199,500    1,994,381 
China Shenhua Energy Co. Ltd., Class H   3,319,500    10,841,235 
China Southern Airlines Co. Ltd., Class H(a)(d)   6,880,000    3,300,641 
China Three Gorges Renewables Group Co. Ltd., Class A   8,064,130    5,190,907 
China Tower Corp. Ltd., Class H(b)   252,352,000    26,160,380 
China United Network Communications Ltd., Class A   7,965,435    4,888,201 
China Yangtze Power Co. Ltd., Class A   10,904,283    34,828,963 
China Zhenhua Group Science & Technology Co. Ltd., Class A   217,878    1,970,261 
Chongqing Rural Commercial Bank Co. Ltd., Class A   6,894,300    3,926,232 
Chongqing Zhifei Biological Products Co. Ltd., Class A   771,900    7,037,124 
Security  Shares   Value 
         
China (continued)          
COSCO Shipping Holdings Co. Ltd., Class H   5,062,500   $4,666,317 
CSPC Pharmaceutical Group Ltd.   3,226,000    2,905,335 
DHC Software Co. Ltd., Class A   2,338,600    2,087,875 
Everdisplay Optronics Shanghai Co. Ltd.(a)   8,697,400    3,273,932 
Fangda Carbon New Material Co. Ltd., Class A(a)   2,992,300    2,420,253 
First Capital Securities Co. Ltd., Class A   2,176,800    1,861,177 
Founder Securities Co. Ltd., Class A   1,434,400    1,742,280 
Fuyao Glass Industry Group Co. Ltd., Class A   464,603    2,450,391 
Gree Electric Appliances Inc. of Zhuhai, Class A   991,206    4,563,832 
GRG Banking Equipment Co. Ltd., Class A   1,758,800    3,002,646 
Guangdong Haid Group Co. Ltd., Class A   1,257,472    7,776,516 
Guangzhou Baiyunshan Pharmaceutical Holdings  Co. Ltd., Class A   1,127,094    4,753,056 
Guangzhou Haige Communications Group Inc. Co., Class A   1,932,500    3,423,033 
Hainan Airlines Holding Co. Ltd., Class A(a)   30,724,300    6,234,408 
Hainan Airport Infrastructure Co. Ltd., NVS(a)   3,816,970    2,172,535 
Hengan International Group Co. Ltd.   3,324,000    12,135,855 
Hengtong Optic-Electric Co. Ltd., Class A   1,182,700    2,060,496 
Hualan Biological Engineering Inc., Class A   1,132,010    3,826,774 
Huaxia Bank Co. Ltd., Class A   7,104,303    5,766,341 
Hundsun Technologies Inc., Class A   978,371    4,110,578 
Iflytek Co. Ltd., Class A   964,067    6,035,992 
Industrial & Commercial Bank of China Ltd., Class H   89,127,000    42,409,062 
Ingenic Semiconductor Co. Ltd., Class A   212,300    2,022,295 
Inner Mongolia Yitai Coal Co. Ltd., Class B(a)   13,610,728    19,356,524 
JA Solar Technology Co. Ltd., Class A   670,800    1,868,169 
Jiangsu Expressway Co. Ltd., Class H   15,352,000    13,785,309 
Jiangsu Hengrui Medicine Co. Ltd., Class A   1,867,766    12,542,447 
Jiangsu Yangnong Chemical Co. Ltd., Class A   284,400    2,573,316 
Jointown Pharmaceutical Group Co. Ltd., Class A   3,084,408    3,241,452 
Kweichow Moutai Co. Ltd., Class A   40,090    10,049,073 
Legend Biotech Corp., ADR(a)(d)   182,992    11,129,573 
Lenovo Group Ltd.(d)   6,952,000    8,579,583 
Liaoning Port Co. Ltd., Class A   16,618,000    3,485,653 
Lingyi iTech Guangdong Co., Class A   5,352,000    5,016,431 
LONGi Green Energy Technology Co. Ltd., Class A   657,740    1,953,143 
Muyuan Foods Co. Ltd., Class A   639,600    3,499,299 
National Silicon Industry Group Co. Ltd., Class A(a)   1,622,600    4,009,868 
NavInfo Co. Ltd., Class A(a)   1,715,800    2,352,783 
Nongfu Spring Co. Ltd., Class H(b)   5,810,000    33,138,955 
People’s Insurance Co. Group of China Ltd. (The), Class H   92,109,000    29,836,852 
PetroChina Co. Ltd., Class H   14,102,000    9,261,360 
PICC Property & Casualty Co. Ltd., Class H   10,460,000    12,150,802 
Postal Savings Bank of China Co. Ltd., Class H(b)   37,797,000    16,767,491 
Qi An Xin Technology Group Inc.(a)   510,142    3,215,527 
Raytron Technology Co. Ltd., Class A   315,600    2,221,873 
Sangfor Technologies Inc., Class A(a)   178,600    2,110,344 
SDIC Power Holdings Co. Ltd., Class A   1,742,300    3,023,239 
SF Holding Co. Ltd., Class A   878,300    5,188,007 
Shandong Gold Mining Co. Ltd., Class A   1,244,773    4,048,115 
Shandong Gold Mining Co. Ltd., Class H(b)   6,785,000    13,397,729 
Shandong Sun Paper Industry JSC Ltd., Class A   1,229,400    2,066,161 
Shanghai Aiko Solar Energy Co. Ltd.   846,260    1,917,487 
Shanghai Baosight Software Co. Ltd., Class B   7,784,241    14,653,966 
Shanghai Friendess Electronic Technology Corp. Ltd., Class A   86,735    2,731,986 
Shanghai International Airport Co. Ltd., Class A(a)   408,800    2,052,934 
Shanghai M&G Stationery Inc., Class A   434,548    2,415,364 
Shanghai Pharmaceuticals Holding Co. Ltd., Class H   3,602,400    5,222,091 

1

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
November 30, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
China (continued)          
Shanghai Pudong Development Bank Co. Ltd., Class A   4,178,186   $4,003,360 
Shanghai RAAS Blood Products Co. Ltd., Class A   5,302,500    5,893,199 
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A   194,900    6,510,270 
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A   140,300    5,702,618 
Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A   658,172    3,091,328 
Sichuan Chuantou Energy Co. Ltd., Class A   2,830,310    5,655,748 
Sinopec Shanghai Petrochemical Co. Ltd., Class A(a)   5,493,567    2,243,575 
Sinopharm Group Co. Ltd., Class H   6,421,600    15,914,360 
Songcheng Performance Development Co. Ltd., Class A   1,372,085    2,017,526 
TCL Technology Group Corp., Class A(a)   8,101,750    4,740,267 
Thunder Software Technology Co. Ltd., Class A   182,000    2,043,036 
Tianjin 712 Communication & Broadcasting Co. Ltd., Class A   595,294    2,572,920 
Tianma Microelectronics Co. Ltd., Class A(a)   1,783,800    2,713,336 
Tianshui Huatian Technology Co. Ltd., Class A   2,435,000    3,045,986 
Tingyi Cayman Islands Holding Corp.   7,804,000    9,821,737 
Tongwei Co. Ltd., Class A   1,061,000    3,637,029 
TravelSky Technology Ltd., Class H   1,704,000    2,870,695 
Uni-President China Holdings Ltd.   2,703,000    1,728,854 
Walvax Biotechnology Co. Ltd., Class A   674,291    2,333,511 
Want Want China Holdings Ltd.   35,951,000    21,051,275 
Western Securities Co. Ltd., Class A   3,200,800    2,956,176 
Wintime Energy Group Co. Ltd., NVS(a)   24,151,000    4,801,021 
Wuliangye Yibin Co. Ltd., Class A   197,149    4,102,752 
Xiaomi Corp., Class B(a)(b)   1,818,600    3,636,595 
Xinjiang Daqo New Energy Co. Ltd.   1,399,635    6,033,870 
Yealink Network Technology Corp. Ltd., Class A   893,424    4,023,686 
Yonyou Network Technology Co. Ltd., Class A   837,900    1,958,063 
Yum China Holdings Inc.   210,688    9,097,508 
Yunnan Baiyao Group Co. Ltd., Class A   317,358    2,233,432 
Zhejiang Dahua Technology Co. Ltd., Class A   1,188,900    3,215,163 
Zhejiang Expressway Co. Ltd., Class H   6,134,000    3,884,246 
Zhejiang Supor Co. Ltd., Class A   331,804    2,425,818 
Zhejiang Zheneng Electric Power Co. Ltd., Class A(a)   3,417,600    2,219,050 
Zhongji Innolight Co. Ltd., Class A   422,300    5,613,902 
ZTE Corp., Class A   3,004,720    10,777,829 
         1,012,274,377 
Czech Republic — 0.2%          
CEZ AS   235,151    10,402,512 
           
Egypt — 0.3%          
Commercial International Bank Egypt SAE   7,098,707    11,004,608 
           
Greece — 0.5%          
Hellenic Telecommunications Organization SA   1,127,149    16,546,916 
JUMBO SA   284,820    7,453,042 
         23,999,958 
Hungary — 0.0%          
Richter Gedeon Nyrt   90,642    2,284,545 
           
India — 18.9%          
ABB India Ltd.   105,932    5,618,860 
Apollo Hospitals Enterprise Ltd.   90,841    6,026,354 
Asian Paints Ltd.   585,488    21,904,548 
Aurobindo Pharma Ltd.   172,390    2,153,073 
Bajaj Auto Ltd.   367,375    26,881,233 
Balkrishna Industries Ltd.   143,832    4,443,604 
Security  Shares   Value 
         
India (continued)          
Berger Paints India Ltd.   249,993   $1,721,903 
Bharti Airtel Ltd.   4,536,804    55,289,138 
Britannia Industries Ltd.   336,958    19,591,515 
Cipla Ltd.   1,835,527    26,693,921 
Colgate-Palmolive India Ltd.   552,495    14,571,834 
Dabur India Ltd.   3,669,112    23,663,404 
Divi’s Laboratories Ltd.   254,603    11,571,370 
Dr. Reddy’s Laboratories Ltd.   392,553    27,274,396 
Eicher Motors Ltd.   98,801    4,622,760 
Godrej Consumer Products Ltd.   159,982    1,934,124 
HCL Technologies Ltd.   2,975,853    47,951,658 
HDFC Bank Ltd.   123,829    2,314,618 
Hero MotoCorp Ltd.   165,830    7,603,660 
Hindustan Unilever Ltd.   1,233,318    37,659,215 
ICICI Lombard General Insurance Co. Ltd.(b)   101,850    1,807,546 
Indian Hotels Co. Ltd. (The), Class A   1,338,481    6,775,029 
Infosys Ltd.   1,862,699    32,558,222 
Kotak Mahindra Bank Ltd.   627,123    13,220,735 
Larsen & Toubro Infotech Ltd.(b)   175,765    11,669,437 
Lupin Ltd.   986,303    15,152,798 
Marico Ltd.   3,674,249    23,744,935 
Maruti Suzuki India Ltd.   165,661    21,091,882 
Max Healthcare Institute Ltd.   2,079,462    15,843,490 
Mphasis Ltd.   141,474    4,003,193 
MRF Ltd.   20,190    27,056,773 
Nestle India Ltd.   73,597    21,385,951 
Page Industries Ltd.   32,363    14,471,979 
Persistent Systems Ltd.   127,236    9,764,569 
Petronet LNG Ltd.   1,449,655    3,531,603 
Pidilite Industries Ltd.   867,241    26,538,275 
Power Grid Corp. of India Ltd.   753,457    1,887,849 
Reliance Industries Ltd.   545,106    15,558,431 
Siemens Ltd.   182,421    8,009,597 
Sun Pharmaceutical Industries Ltd.   1,822,318    26,828,574 
Tata Consultancy Services Ltd.   1,282,342    53,731,423 
Tata Elxsi Ltd.   56,801    5,621,132 
Tech Mahindra Ltd.   1,234,471    18,097,265 
Titan Co. Ltd.   610,326    25,571,004 
Torrent Pharmaceuticals Ltd.   854,451    21,751,839 
Trent Ltd.   320,974    10,739,138 
Tube Investments of India Ltd.   72,276    2,922,923 
TVS Motor Co. Ltd.   147,978    3,308,461 
UltraTech Cement Ltd.   32,395    3,501,380 
Wipro Ltd.   4,440,084    21,988,720 
         817,625,341 
Indonesia — 1.5%          
Bank Central Asia Tbk PT   78,498,600    45,433,682 
Telkom Indonesia Persero Tbk PT   84,408,200    20,524,350 
         65,958,032 
Kazakhstan — 0.0%          
Polymetal International PLC(a)(c)   244,417    27 
           
Kuwait — 2.3%          
Boubyan Bank KSCP   714,179    1,347,682 
Kuwait Finance House KSCP   12,084,237    27,351,641 
Mobile Telecommunications Co. KSCP   12,449,054    19,714,313 
National Bank of Kuwait SAKP   17,409,508    49,890,201 
         98,303,837 
Malaysia — 4.1%          
DiGi.Com Bhd   12,164,000    11,329,920 
Genting Malaysia Bhd   3,485,200    1,998,042 

2

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
November 30, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Malaysia (continued)          
Hong Leong Bank Bhd   4,453,800   $18,159,657 
IHH Healthcare Bhd   19,751,900    24,751,257 
IOI Corp. Bhd   2,772,300    2,393,782 
Malayan Banking Bhd   21,120,500    40,713,135 
Malaysia Airports Holdings Bhd   5,044,800    7,780,043 
MISC Bhd   2,354,600    3,636,074 
MR DIY Group M Bhd(b)   19,222,150    6,311,812 
Nestle Malaysia Bhd   945,300    25,440,631 
Petronas Dagangan Bhd   1,736,000    8,308,359 
PPB Group Bhd   2,886,700    8,735,373 
Public Bank Bhd   3,977,200    3,645,664 
Telekom Malaysia Bhd   3,728,300    4,217,773 
Tenaga Nasional Bhd   4,586,600    9,835,973 
         177,257,495 
Mexico — 0.8%          
America Movil SAB de CV   15,498,152    14,018,250 
Wal-Mart de Mexico SAB de CV   5,761,458    22,586,733 
         36,604,983 
Peru — 0.7%          
Cia. de Minas Buenaventura SAA, ADR   1,687,340    16,097,224 
Credicorp Ltd.   130,585    16,392,335 
         32,489,559 
Philippines — 1.7%          
Bank of the Philippine Islands   10,465,325    19,495,774 
BDO Unibank Inc.   4,356,105    10,487,014 
International Container Terminal Services Inc.   4,581,320    17,829,870 
Jollibee Foods Corp.   2,959,650    12,087,847 
Manila Electric Co.   1,732,000    11,226,326 
SM Investments Corp.   181,075    2,673,710 
         73,800,541 
Qatar — 2.5%          
Dukhan Bank   4,187,534    4,435,738 
Masraf Al Rayan QSC   18,654,724    12,719,944 
Ooredoo QPSC   7,245,797    20,450,164 
Qatar Electricity & Water Co. QSC   5,234,350    24,243,992 
Qatar Fuel QSC   1,666,797    7,278,150 
Qatar Islamic Bank SAQ   1,930,086    10,058,321 
Qatar National Bank QPSC   7,082,544    30,509,635 
         109,695,944 
Russia — 0.0%          
Polyus PJSC(a)(c)   95,932    11 
Rosneft Oil Co. PJSC(c)   759,070    84 
Yandex NV(a)(c)   49,681    6 
         101 
Saudi Arabia — 9.0%          
ACWA Power Co.   35,987    2,196,727 
Advanced Petrochemical Co.   507,833    5,069,845 
Al Rajhi Bank   1,813,901    36,973,865 
Alinma Bank   619,189    5,912,160 
Arabian Internet & Communications Services Co.   158,778    13,183,713 
Bupa Arabia for Cooperative Insurance Co.   267,206    14,179,573 
Co. for Cooperative Insurance (The)   349,303    11,471,179 
Dallah Healthcare Co.   118,062    5,224,122 
Dar Al Arkan Real Estate Development Co.(a)   2,567,066    10,203,102 
Dr Sulaiman Al Habib Medical Services Group Co.   125,972    9,442,906 
Elm Co.   62,147    12,346,767 
Etihad Etisalat Co.   2,719,606    33,492,149 
Jarir Marketing Co.   7,517,964    29,216,285 
Mobile Telecommunications Co.   5,596,776    21,063,776 
Nahdi Medical Co.   55,020    1,990,737 
Security  Shares   Value 
         
Saudi Arabia (continued)          
Rabigh Refining & Petrochemical Co.(a)   2,762,078   $8,025,230 
SABIC Agri-Nutrients Co.   725,934    26,642,796 
Saudi Arabian Oil Co.(b)   4,109,499    36,332,175 
Saudi Basic Industries Corp.   1,234,308    26,092,689 
Saudi Electricity Co.   2,925,282    14,088,833 
Saudi National Bank (The)   192,349    1,792,177 
Saudi Telecom Co.   5,622,086    57,700,957 
Yanbu National Petrochemical Co.   545,619    5,485,320 
         388,127,083 
South Korea — 7.0%          
Celltrion Healthcare Co. Ltd.   40,356    2,325,981 
Celltrion Inc.   38,339    4,828,806 
Coway Co. Ltd.   187,724    7,227,931 
Hotel Shilla Co. Ltd.(d)   220,749    11,208,240 
Hyundai Mobis Co. Ltd.   20,388    3,618,844 
Kangwon Land Inc.   880,650    10,556,725 
Kia Corp.   45,273    3,007,853 
Korea Electric Power Corp.(a)   856,256    12,490,536 
KT Corp.   238,517    6,196,448 
KT&G Corp.   489,546    33,371,342 
LG Electronics Inc.   36,823    2,919,725 
LG Uplus Corp.   1,136,904    9,234,769 
Orion Corp.(d)   167,380    15,134,995 
Samsung Biologics Co. Ltd.(a)(b)   51,504    28,811,397 
Samsung C&T Corp.   85,125    7,849,009 
Samsung Electronics Co. Ltd.   819,717    46,221,964 
Samsung Fire & Marine Insurance Co. Ltd.   24,836    5,005,123 
Samsung SDS Co. Ltd.   255,789    33,260,749 
SK Hynix Inc.   193,692    20,097,767 
SK Telecom Co. Ltd.   582,117    23,552,693 
Yuhan Corp.   308,247    14,630,727 
         301,551,624 
Taiwan — 16.4%          
Accton Technology Corp.   490,000    8,336,816 
Advantech Co. Ltd.   2,463,940    27,836,011 
Asustek Computer Inc.   1,320,000    16,643,354 
Catcher Technology Co. Ltd.   2,925,000    18,197,988 
Cathay Financial Holding Co. Ltd.   3,595,020    5,350,572 
Chang Hwa Commercial Bank Ltd.   6,360,525    3,622,799 
China Steel Corp.   7,310,000    6,122,267 
Chunghwa Telecom Co. Ltd.   17,186,000    65,704,078 
Compal Electronics Inc.   27,120,000    26,827,361 
Delta Electronics Inc.   581,000    5,876,410 
E.Sun Financial Holding Co. Ltd.   28,697,250    23,501,544 
Far EasTone Telecommunications Co. Ltd.   20,443,000    54,226,362 
First Financial Holding Co. Ltd.   70,551,399    62,515,114 
Formosa Petrochemical Corp.   3,594,000    9,759,447 
Formosa Plastics Corp.   3,024,840    7,817,600 
Hon Hai Precision Industry Co. Ltd.   3,116,000    10,121,011 
Hua Nan Financial Holdings Co. Ltd.   56,688,906    40,353,134 
Mega Financial Holding Co. Ltd.   16,389,463    20,714,914 
Pegatron Corp.   965,000    2,508,259 
PharmaEssentia Corp.(a)   315,000    3,669,808 
Pou Chen Corp.   4,089,000    4,037,298 
President Chain Store Corp.   7,097,000    61,174,834 
Quanta Computer Inc.   552,000    3,573,180 
Synnex Technology International Corp.   7,042,000    15,494,844 
Taiwan Business Bank   18,673,448    8,072,336 
Taiwan Cement Corp.   6,337,000    7,076,163 
Taiwan Cooperative Financial Holding Co. Ltd.   58,493,884    50,383,965 
Taiwan High Speed Rail Corp.   12,424,000    11,963,253 

3

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
November 30, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Taiwan (continued)          
Taiwan Mobile Co. Ltd.   20,750,000   $65,270,084 
Taiwan Semiconductor Manufacturing Co. Ltd.   1,219,000    22,298,093 
Uni-President Enterprises Corp.   8,373,000    19,545,495 
WPG Holdings Ltd.   8,554,440    21,241,111 
         709,835,505 
Thailand — 4.6%          
Advanced Info Service PCL, NVDR   8,714,100    54,052,369 
Airports of Thailand PCL, NVDR(a)(d)   29,769,300    50,349,430 
Bangkok Dusit Medical Services PCL, NVDR   24,455,100    18,261,953 
Bangkok Expressway & Metro PCL, NVDR(d)   9,032,700    2,002,578 
Bumrungrad Hospital PCL, NVDR   3,461,900    21,943,340 
Central Retail Corp. PCL, NVDR(d)   7,595,600    8,156,268 
Home Product Center PCL, NVDR   32,721,700    10,978,274 
Intouch Holdings PCL, NVDR   10,695,900    21,234,717 
PTT Oil & Retail Business PCL, NVDR(d)   17,234,600    9,753,907 
Siam Cement PCL (The), NVDR   555,700    4,535,343 
         201,268,179 
Turkey — 0.5%          
Aselsan Elektronik Sanayi Ve Ticaret AS   3,465,831    5,862,155 
BIM Birlesik Magazalar AS   315,582    3,369,053 
Hektas Ticaret TAS(a)   2,993,343    2,311,722 
Sasa Polyester Sanayi AS(a)   1,166,731    2,015,447 
Turkiye Sise ve Cam Fabrikalari AS   3,629,928    6,194,107 
         19,752,484 
United Arab Emirates — 3.9%          
Abu Dhabi National Oil Co. for Distribution PJSC   41,405,606    42,842,522 
Aldar Properties PJSC   15,489,315    24,126,841 
Dubai Islamic Bank PJSC   24,080,431    36,186,897 
Emirates NBD Bank PJSC   3,257,987    15,613,285 
Emirates Telecommunications Group Co. PJSC   4,197,021    22,079,058 
First Abu Dhabi Bank PJSC   4,856,976    18,144,807 
Multiply Group(a)   11,023,844    10,539,258 
         169,532,668 
Total Common Stocks — 99.0%          
(Cost: $3,959,470,757)        4,289,595,155 
           
Preferred Stocks          
           
Brazil — 0.2%          
Cia. Paranaense de Energia, Preference Shares, NVS   3,748,378    7,204,245 
           
Russia — 0.0%          
Surgutneftegas PJSC, Preference Shares, NVS(c)   40,815,200    4,536 
           
South Korea — 0.6%          
Samsung Electronics Co. Ltd., Preference Shares, NVS   599,840    26,909,665 
           
Total Preferred Stocks — 0.8%          
(Cost: $54,409,297)        34,118,446 
           
Security  Shares   Value 
         
Rights          
           
China — 0.0%          
Kangmei Pharmaceutical Co. Ltd.,          
(Expires 12/31/49)   167,567   $— 
Zhejiang Expressway Co. Ltd.,          
(Expires 12/12/23, Strike Price HKD 4.06)   2,843,160    320,303 
         320,303 
Thailand — 0.0%          
SCC Rates,          
(Expires 12/11/23, Strike Price THB 11.50)   74,627    — 
           
Total Rights — 0.0%          
(Cost: $—)       320,303 
Total Long-Term Investments — 99.8%          
(Cost: $4,013,880,054)       4,324,033,904 
           
Short-Term Securities          
           
Money Market Funds — 0.7%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.54%(e)(f)(g)   30,005,077    30,020,079 
           
Total Short-Term Securities — 0.7%          
(Cost: $30,002,933)        30,020,079 
           
Total Investments — 100.5%          
(Cost: $4,043,882,987)        4,354,053,983 
           
Liabilities in Excess of Other Assets — (0.5)%        (21,186,676)
           
Net Assets — 100.0%       $4,332,867,307 

 

(a) Non-income producing security.

(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

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

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

(e) Affiliate of the Fund.

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

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

4

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor 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  $40,433,121   $—   $(10,419,585)(a)  $1,220   $5,323   $30,020,079    30,005,077   $54,255(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares(c)    1,290,000    —    (1,290,000)(a)   —    —    —    —    18,019    — 
                  $1,220   $5,323   $30,020,079        $72,274   $— 

 

(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.

(c) As of period end, the entity is no longer held.

 

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                  
MSCI Emerging Markets Index   55   12/15/23  $2,715   $1,912 
2-Year U.S. Treasury Note   2   03/28/24   409    1,450 
                $3,362 

 

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  $432,223,507   $3,857,371,512   $136   $4,289,595,155 
Preferred Stocks   7,204,245    26,909,665    4,536    34,118,446 
Rights   320,303    —    —    320,303 

5

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
November 30, 2023  

 

Fair Value Hierarchy as of Period End (continued)

 

   Level 1   Level 2   Level 3   Total 
Short-Term Securities                    
Money Market Funds  $30,020,079   $—   $—   $30,020,079 
   $469,768,134   $3,884,281,177   $4,672   $4,354,053,983 
Derivative Financial Instruments(a)                    
Assets                    
Equity Contracts  $1,912   $—   $—   $1,912 
Interest Rate Contracts   1,450    —    —    1,450 
   $3,362   $—   $—    3,362 

 

(a) Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

Portfolio Abbreviation

 

ADR American Depositary Receipt
JSC Joint Stock Company
NVDR Non-Voting Depositary Receipt
NVS Non-Voting Shares
PJSC Public Joint Stock Company

6