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

Security	Shares		Value
Common Stocks
Air Freight & Logistics — 0.5%
bpost SA		15,761	$	79,089
Banks — 8.1%
KBC Ancora		3,948		155,827
KBC Group NV		21,860		1,253,180
				1,409,007
Beverages — 22.8%
Anheuser-Busch InBev SA/NV		62,926		3,960,119
Biotechnology — 14.7%
Argenx SE(a)		5,320		2,372,943
Galapagos NV(a)(b)		4,987		186,398
				2,559,341
Chemicals — 8.7%
Recticel SA(b)		6,232		68,678
Solvay SA		6,814		789,334
Tessenderlo Group SA		3,300		99,146
Umicore SA		20,652		551,893
				1,509,051
Construction & Engineering — 2.9%
Ackermans & van Haaren NV		2,396		395,703
Deme Group NV		974		103,253
				498,956
Consumer Staples Distribution & Retail — 1.6%
Etablissements Franz Colruyt NV		6,515		281,244
Distributors — 2.4%
D’ieteren Group		2,461		420,535
Diversified Telecommunication Services — 1.0%
Proximus SADP		18,051		173,242
Electric Utilities — 2.1%
Elia Group SA/NV		3,344		362,423
Electronic Equipment, Instruments & Components — 0.8%
Barco NV		8,064		135,537
Entertainment — 0.5%
Kinepolis Group NV		1,867		92,469
Financial Services — 6.4%
Groupe Bruxelles Lambert NV		9,535		756,725
Sofina SA		1,577		351,468
				1,108,193
Food Products — 2.0%
Lotus Bakeries		41		356,136
Health Care Providers & Services — 0.9%
Fagron		8,215		155,662
Health Care REITs — 3.3%
Aedifica SA		4,876		305,297
Cofinimmo SA		3,792		266,377
				571,674

Security	Shares		Value
Industrial REITs — 4.0%
Intervest Offices & Warehouses NV		4,323	$	96,935
Montea NV		1,645		142,488
Warehouses De Pauw CVA		16,452		462,324
				701,747
Insurance — 3.9%
Ageas SA/NV		15,893		684,474
Metals & Mining — 1.1%
Bekaert SA		4,109		190,733
Oil, Gas & Consumable Fuels — 1.9%
Euronav NV		16,915		301,956
Exmar NV		4,390		36,556
				338,512
Personal Care Products — 0.4%
Ontex Group NV(a)		9,732		74,332
Pharmaceuticals — 4.4%
UCB SA		10,399		769,107
Real Estate Management & Development — 0.9%
VGP NV		1,553		159,878
Residential REITs — 0.7%
Xior Student Housing NV		3,644		121,591
Retail REITs — 0.6%
Retail Estates NV		1,452		97,753
Semiconductors & Semiconductor Equipment — 1.2%
Melexis NV		2,200		202,514
Specialized REITs — 0.8%
Shurgard Self Storage Ltd.		3,154		136,732
Total Long-Term Investments — 98.6%
(Cost: $23,058,498)				17,150,051
Short-Term Securities
Money Market Funds — 0.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.54%(c)(d)(e)		85,648		85,691
Total Short-Term Securities — 0.5%
(Cost: $85,676)				85,691
Total Investments — 99.1%
(Cost: $23,144,174)				17,235,742
Other Assets Less Liabilities — 0.9%				160,605
Net Assets — 100.0%			$	17,396,347

^(a)  Non-income producing security.

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

^(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.

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Schedule of Investments (unaudited) (continued)	iShares® MSCI Belgium 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	$	137,291	$	—	$	(51,380	)(a)	$	(237	)	$	17	$	85,691		85,648	$	139	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares(c)		10,000		—		(10,000	)(a)		—			—		—		—		20			—
								$	(237	)	$	17	$	85,691			$	159		$	—

^(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
Euro STOXX 50 Index		5	12/15/23	$	240	$	8,411

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	$	870,672	$	16,279,379	$	—	$	17,150,051
Short-Term Securities
Money Market Funds		85,691		—		—		85,691
	$	956,363	$	16,279,379	$	—	$	17,235,742

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

Fair Value Hierarchy as of Period End (continued)

	Level 1		Level 2		Level 3		Total
Derivative Financial Instruments(a)
Assets
Equity Contracts	$	—	$	8,411	$	—	$	8,411

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

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