Schedule of Investments (unaudited) | iShares® MSCI Emerging Markets Min Vol Factor ETF |
May 31, 2024 | (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Brazil — 0.7% | ||||||||
Cia. de Saneamento Basico do Estado de Sao | ||||||||
Paulo SABESP | 272,787 | $ | 3,837,066 | |||||
Energisa SA | 230,103 | 2,003,087 | ||||||
Equatorial Energia SA | 1,145,115 | 6,374,471 | ||||||
Equatorial Energia SA, NVS(a) | 9,009 | 50,150 | ||||||
Raia Drogasil SA | 1,064,383 | 5,081,811 | ||||||
Telefonica Brasil SA | 687,714 | 5,671,031 | ||||||
TIM SA/Brazil | 1,432,441 | 4,326,594 | ||||||
TOTVS SA | 401,119 | 2,193,936 | ||||||
29,538,146 | ||||||||
Chile — 0.1% | ||||||||
Enel Americas SA | 23,228,717 | 2,297,543 | ||||||
Latam Airlines Group SA | 239,997,309 | 3,228,687 | ||||||
5,526,230 | ||||||||
China — 22.3% | ||||||||
360 Security Technology Inc., Class A(a) | 3,854,800 | 4,382,359 | ||||||
Agricultural Bank of China Ltd., Class H | 133,907,039 | 56,137,929 | ||||||
Anhui Gujing Distillery Co. Ltd., Class B | 1,051,192 | 16,331,775 | ||||||
Anjoy Foods Group Co. Ltd., Class A | 154,800 | 1,935,781 | ||||||
Anker Innovations Technology Co. Ltd. | 380,340 | 3,673,322 | ||||||
Bank of China Ltd., Class H | 132,761,000 | 62,934,374 | ||||||
Bank of Communications Co. Ltd., Class A | 3,760,074 | 3,647,623 | ||||||
Bank of Communications Co. Ltd., Class H | 10,789,000 | 8,143,116 | ||||||
Bank of Shanghai Co. Ltd., Class A | 4,360,911 | 4,686,018 | ||||||
Beijing Kingsoft Office Software Inc., Class A | 55,613 | 1,985,083 | ||||||
Beijing Tiantan Biological Products Corp. Ltd., | ||||||||
Class A | 1,181,000 | 4,613,055 | ||||||
Beijing-Shanghai High Speed Railway Co. Ltd., | ||||||||
Class A | 34,638,800 | 24,150,494 | ||||||
BOE Technology Group Co. Ltd., Class A | 26,192,100 | 14,717,643 | ||||||
Brilliance China Automotive Holdings Ltd. | 9,508,000 | 7,504,510 | ||||||
BYD Electronic International Co. Ltd. | 526,000 | 2,284,920 | ||||||
CGN Power Co. Ltd., Class H(b) | 94,623,000 | 36,259,579 | ||||||
Changchun High-Tech Industry Group Co. Ltd., | ||||||||
Class A | 133,500 | 1,926,850 | ||||||
China CITIC Bank Corp. Ltd., Class H | 42,632,000 | 26,074,213 | ||||||
China Coal Energy Co. Ltd., Class H | 5,056,262 | 6,368,495 | ||||||
China Construction Bank Corp., Class A | 7,092,984 | 6,872,127 | ||||||
China Construction Bank Corp., Class H | 41,488,000 | 29,445,032 | ||||||
China Eastern Airlines Corp. Ltd., Class A(a) | 3,984,200 | 2,166,130 | ||||||
China Huishan Dairy Holdings Co. Ltd.(c) | 5,944,807 | 8 | ||||||
China Minsheng Banking Corp. Ltd., Class A | 15,894,754 | 8,554,554 | ||||||
China National Nuclear Power Co. Ltd., Class A | 2,297,400 | 3,029,511 | ||||||
China Oilfield Services Ltd., Class H | 2,168,896 | 2,310,228 | ||||||
China Petroleum & Chemical Corp., Class H | 10,756,000 | 6,852,091 | ||||||
China Railway Signal & Communication Corp. Ltd., | ||||||||
Class A | 5,217,891 | 3,942,346 | ||||||
China Resources Microelectronics Ltd. | 959,385 | 5,035,375 | ||||||
China Shenhua Energy Co. Ltd., Class H | 6,255,500 | 30,390,869 | ||||||
China Three Gorges Renewables Group Co. Ltd., | ||||||||
Class A | 8,271,730 | 5,318,930 | ||||||
China Tower Corp. Ltd., Class H(b) | 125,233,886 | 14,787,780 | ||||||
China United Network Communications Ltd., | ||||||||
Class A | 7,795,435 | 4,906,749 | ||||||
China Yangtze Power Co. Ltd., Class A | 10,646,183 | 38,995,021 | ||||||
China Zhenhua Group Science & Technology Co. | ||||||||
Ltd., Class A | 337,678 | 2,100,027 | ||||||
Chongqing Rural Commercial Bank Co. Ltd., | ||||||||
Class A | 6,392,800 | 4,539,207 |
Security | Shares | Value | ||||||
China (continued) | ||||||||
Chongqing Zhifei Biological Products Co. Ltd., | ||||||||
Class A | 730,500 | $ | 3,299,232 | |||||
COSCO Shipping Holdings Co. Ltd., Class H | 5,083,000 | 8,511,739 | ||||||
Daqin Railway Co. Ltd., Class A | 9,466,000 | 9,212,050 | ||||||
Empyrean Technology Co. Ltd., NVS | 202,300 | 2,209,876 | ||||||
Everdisplay Optronics Shanghai Co. Ltd.(a) | 8,206,182 | 2,338,201 | ||||||
First Capital Securities Co. Ltd., Class A | 2,662,200 | 1,979,377 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class A | 548,903 | 3,493,685 | ||||||
Fuyao Glass Industry Group Co. Ltd., Class H(b) | 537,200 | 3,032,758 | ||||||
Gree Electric Appliances Inc. of Zhuhai, Class A | 960,106 | 5,371,107 | ||||||
GRG Banking Equipment Co. Ltd., Class A | 1,729,300 | 2,565,085 | ||||||
Guangdong Haid Group Co. Ltd., Class A | 1,084,272 | 7,551,507 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings | ||||||||
Co. Ltd., Class A | 1,022,194 | 4,417,397 | ||||||
Guangzhou Haige Communications Group Inc. Co., | ||||||||
Class A | 1,771,700 | 2,643,381 | ||||||
Haier Smart Home Co. Ltd., Class A | 1,048,400 | 3,793,888 | ||||||
Hainan Airlines Holding Co. Ltd., Class A(a) | 30,254,800 | 5,667,146 | ||||||
Hainan Airport Infrastructure Co. Ltd., NVS(a) | 4,134,970 | 1,946,872 | ||||||
Hengtong Optic-Electric Co. Ltd., Class A | 1,755,500 | 3,616,487 | ||||||
Hualan Biological Engineering Inc., Class A | 1,074,710 | 2,687,661 | ||||||
Huaneng Power International Inc., Class H(a) | 5,246,000 | 3,474,794 | ||||||
Huaxia Bank Co. Ltd., Class A | 2,471,903 | 2,343,390 | ||||||
Hundsun Technologies Inc., Class A | 976,171 | 2,700,862 | ||||||
Hygon Information Technology Co. Ltd., NVS | 221,963 | 2,178,414 | ||||||
Iflytek Co. Ltd., Class A | 951,267 | 5,540,947 | ||||||
Industrial & Commercial Bank of China Ltd., | ||||||||
Class H | 80,520,000 | 45,617,601 | ||||||
Ingenic Semiconductor Co. Ltd., Class A | 267,800 | 2,138,063 | ||||||
Inner Mongolia Yitai Coal Co. Ltd., Class B | 7,014,117 | 12,898,126 | ||||||
JA Solar Technology Co. Ltd., Class A | 1,149,800 | 2,389,854 | ||||||
Jiangsu Expressway Co. Ltd., Class H | 14,516,000 | 15,110,966 | ||||||
Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | 1,738,379 | 10,130,918 | ||||||
Jiangsu Yangnong Chemical Co. Ltd., Class A | 282,400 | 2,332,154 | ||||||
Jointown Pharmaceutical Group Co. Ltd., Class A | 2,833,508 | 2,889,173 | ||||||
Kweichow Moutai Co. Ltd., Class A | 39,190 | 8,890,306 | ||||||
Legend Biotech Corp., ADR(a)(d) | 201,674 | 8,068,977 | ||||||
Lenovo Group Ltd. | 3,044,000 | 4,384,907 | ||||||
Liaoning Port Co. Ltd., Class A | 15,474,000 | 2,961,206 | ||||||
Lingyi iTech Guangdong Co., Class A | 5,161,300 | 3,507,687 | ||||||
LONGi Green Energy Technology Co. Ltd., Class A | 1,511,440 | 3,870,794 | ||||||
Meihua Holdings Group Co. Ltd. | 1,950,900 | 2,948,545 | ||||||
Muyuan Foods Co. Ltd., Class A | 803,100 | 5,207,511 | ||||||
National Silicon Industry Group Co. Ltd., Class A(a) | 1,598,600 | 2,984,640 | ||||||
NAURA Technology Group Co. Ltd., Class A | 54,200 | 2,188,546 | ||||||
Nongfu Spring Co. Ltd., Class H(b) | 5,736,400 | 30,543,895 | ||||||
OFILM Group Co. Ltd., Class A(a) | 1,941,500 | 2,162,003 | ||||||
People's Insurance Co. Group of China Ltd. (The), | ||||||||
Class H | 63,935,172 | 22,282,606 | ||||||
PetroChina Co. Ltd., Class H | 20,048,000 | 20,556,383 | ||||||
PICC Property & Casualty Co. Ltd., Class H | 11,572,000 | 15,080,270 | ||||||
Postal Savings Bank of China Co. Ltd., Class H(b) | 19,879,162 | 11,252,438 | ||||||
SDIC Power Holdings Co. Ltd., Class A | 2,157,000 | 5,261,193 | ||||||
Shandong Gold Mining Co. Ltd., Class H(b) | 6,666,250 | 14,338,882 | ||||||
Shandong Sun Paper Industry JSC Ltd., Class A | 1,264,900 | 2,624,401 | ||||||
Shanghai Baosight Software Co. Ltd., Class B | 7,206,741 | 15,681,458 | ||||||
Shanghai BOCHU Electronic Technology Corp. Ltd., | ||||||||
Class A | 142,984 | 3,930,182 | ||||||
Shanghai International Airport Co. Ltd., Class A(a) | 854,519 | 4,084,058 | ||||||
Shanghai International Port Group Co. Ltd., Class A | 4,628,500 | 3,625,124 | ||||||
Shanghai Pudong Development Bank Co. Ltd., | ||||||||
Class A | 4,122,386 | 4,732,340 |
1
Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Min Vol Factor ETF |
May 31, 2024 | (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
China (continued) | ||||||||
Shanghai RAAS Blood Products Co. Ltd., Class A | 4,789,400 | $ | 4,681,597 | |||||
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., | ||||||||
Class A | 189,000 | 6,273,382 | ||||||
Shenzhen Goodix Technology Co. Ltd., Class A | 256,900 | 2,185,006 | ||||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., | ||||||||
Class A | 136,000 | 5,428,270 | ||||||
Shenzhen Transsion Holdings Co. Ltd., Class A | 123,192 | 2,221,387 | ||||||
Sichuan Chuantou Energy Co. Ltd., Class A | 2,692,110 | 6,673,857 | ||||||
Sinopharm Group Co. Ltd., Class H | 1,732,800 | 4,715,513 | ||||||
Suzhou TFC Optical Communication Co. Ltd. | 159,500 | 1,944,324 | ||||||
TCL Technology Group Corp., Class A(a) | 13,199,650 | 7,777,210 | ||||||
Tianshui Huatian Technology Co. Ltd., Class A | 2,311,500 | 2,604,097 | ||||||
Tongwei Co. Ltd., Class A | 1,075,300 | 3,401,339 | ||||||
Want Want China Holdings Ltd. | 34,485,958 | 20,769,892 | ||||||
Wens Foodstuffs Group Co. Ltd., Class A | 1,866,700 | 5,501,252 | ||||||
Western Securities Co. Ltd., Class A | 3,256,600 | 3,039,962 | ||||||
Will Semiconductor Co. Ltd. Shanghai, Class A | 295,800 | 3,828,556 | ||||||
Wintime Energy Group Co. Ltd., NVS(a) | 23,285,300 | 4,071,576 | ||||||
Wuliangye Yibin Co. Ltd., Class A | 189,749 | 3,819,709 | ||||||
Xiaomi Corp., Class B(a)(b) | 3,613,000 | 8,090,039 | ||||||
Xinjiang Daqo New Energy Co. Ltd.(a) | 1,132,697 | 4,173,808 | ||||||
Yealink Network Technology Corp. Ltd., Class A | 443,424 | 2,260,423 | ||||||
Yunnan Baiyao Group Co. Ltd., Class A | 306,658 | 2,230,854 | ||||||
Zhejiang Dahua Technology Co. Ltd., Class A | 1,122,500 | 2,536,011 | ||||||
Zhejiang Supor Co. Ltd., Class A | 307,404 | 2,245,582 | ||||||
Zhejiang Zheneng Electric Power Co. Ltd., | ||||||||
Class A(a) | 7,799,600 | 7,193,123 | ||||||
Zhongji Innolight Co. Ltd., Class A | 349,400 | 7,520,285 | ||||||
ZTE Corp., Class A | 2,875,920 | 10,654,410 | ||||||
978,095,651 | ||||||||
Czech Republic — 0.2% | ||||||||
CEZ AS | 230,912 | 9,625,245 | ||||||
Egypt — 0.3% | ||||||||
Commercial International Bank - Egypt (CIB) | 6,936,614 | 11,475,422 | ||||||
Talaat Moustafa Group | 1,644,141 | 1,881,006 | ||||||
13,356,428 | ||||||||
Greece — 0.5% | ||||||||
Hellenic Telecommunications Organization SA | 1,100,937 | 16,088,011 | ||||||
Jumbo SA | 243,587 | 6,977,624 | ||||||
23,065,635 | ||||||||
Hungary — 0.1% | ||||||||
Richter Gedeon Nyrt | 89,758 | 2,274,373 | ||||||
India — 23.3% | ||||||||
ABB India Ltd. | 97,877 | 9,751,939 | ||||||
Adani Ports & Special Economic Zone Ltd. | 134,805 | 2,321,383 | ||||||
Apollo Hospitals Enterprise Ltd. | 132,268 | 9,267,507 | ||||||
Asian Paints Ltd. | 575,054 | 19,887,725 | ||||||
Aurobindo Pharma Ltd. | 284,492 | 4,044,451 | ||||||
Avenue Supermarts Ltd.(a)(b) | 110,232 | 5,681,412 | ||||||
Bajaj Auto Ltd. | 317,014 | 34,526,309 | ||||||
Balkrishna Industries Ltd. | 145,802 | 5,336,505 | ||||||
Bharti Airtel Ltd. | 4,212,960 | 69,374,177 | ||||||
Bosch Ltd. | 16,750 | 6,099,050 | ||||||
Britannia Industries Ltd.(a) | 330,578 | 20,534,437 | ||||||
CG Power and Industrial Solutions Ltd. | 287,671 | 2,217,553 | ||||||
Cipla Ltd. | 1,790,027 | 31,094,487 | ||||||
Colgate-Palmolive India Ltd. | 573,526 | 18,271,658 | ||||||
Dabur India Ltd. | 3,585,724 | 23,418,010 | ||||||
Divi's Laboratories Ltd. | 249,442 | 12,885,950 | ||||||
Dr. Reddy's Laboratories Ltd. | 463,678 | 32,209,235 |
Security | Shares | Value | ||||||
India (continued) | ||||||||
Eicher Motors Ltd. | 99,210 | $ | 5,631,166 | |||||
Godrej Consumer Products Ltd. | 189,207 | 2,885,625 | ||||||
HCL Technologies Ltd. | 2,913,603 | 46,320,195 | ||||||
HDFC Bank Ltd. | 594,603 | 10,922,167 | ||||||
HDFC Life Insurance Co. Ltd.(b) | 327,607 | 2,158,045 | ||||||
Hero MotoCorp Ltd. | 160,729 | 9,872,486 | ||||||
Hindustan Unilever Ltd. | 1,208,933 | 33,741,063 | ||||||
ICICI Bank Ltd. | 943,682 | 12,674,001 | ||||||
ICICI Lombard General Insurance Co. Ltd.(b) | 201,360 | 3,819,907 | ||||||
Indian Hotels Co. Ltd., Class A | 1,708,646 | 11,435,968 | ||||||
Infosys Ltd. | 1,987,296 | 33,686,879 | ||||||
ITC Ltd. | 424,122 | 2,166,816 | ||||||
Jubilant Foodworks Ltd. | 355,697 | 2,105,088 | ||||||
Kotak Mahindra Bank Ltd. | 767,369 | 15,473,286 | ||||||
Larsen & Toubro Ltd. | 102,809 | 4,519,365 | ||||||
LTIMindtree Ltd.(b) | 287,614 | 16,236,460 | ||||||
Lupin Ltd. | 971,261 | 18,440,391 | ||||||
Marico Ltd. | 3,501,324 | 24,964,456 | ||||||
Maruti Suzuki India Ltd. | 209,921 | 31,234,668 | ||||||
Max Healthcare Institute Ltd. | 1,111,420 | 10,027,968 | ||||||
Mphasis Ltd. | 145,964 | 4,003,992 | ||||||
MRF Ltd. | 19,680 | 29,602,296 | ||||||
Nestle India Ltd., NVS | 908,796 | 25,647,436 | ||||||
Page Industries Ltd. | 31,729 | 13,689,625 | ||||||
Persistent Systems Ltd., NVS | 338,289 | 13,828,050 | ||||||
Petronet LNG Ltd. | 1,118,278 | 3,991,072 | ||||||
PI Industries Ltd. | 148,240 | 6,286,298 | ||||||
Pidilite Industries Ltd. | 824,612 | 29,363,660 | ||||||
Power Grid Corp. of India Ltd. | 831,789 | 3,095,077 | ||||||
Reliance Industries Ltd. | 814,861 | 27,954,526 | ||||||
SBI Life Insurance Co. Ltd.(b) | 125,809 | 2,089,601 | ||||||
Siemens Ltd. | 179,004 | 14,963,815 | ||||||
Sun Pharmaceutical Industries Ltd. | 1,802,529 | 31,568,479 | ||||||
Tata Consultancy Services Ltd. | 1,473,137 | 64,916,617 | ||||||
Tata Elxsi Ltd. | 220,299 | 18,365,735 | ||||||
Tech Mahindra Ltd. | 1,205,844 | 17,820,426 | ||||||
Titan Co. Ltd. | 597,820 | 23,261,887 | ||||||
Torrent Pharmaceuticals Ltd. | 838,217 | 27,108,184 | ||||||
Trent Ltd. | 321,903 | 17,608,875 | ||||||
Tube Investments of India Ltd. | 73,436 | 3,148,875 | ||||||
TVS Motor Co. Ltd. | 153,552 | 4,014,745 | ||||||
UltraTech Cement Ltd. | 33,073 | 3,932,490 | ||||||
Varun Beverages Ltd. | 121,570 | 2,078,034 | ||||||
Wipro Ltd. | 4,981,630 | 26,162,164 | ||||||
1,019,739,747 | ||||||||
Indonesia — 1.6% | ||||||||
Bank Central Asia Tbk PT | 77,473,600 | 44,080,335 | ||||||
Chandra Asri Pacific Tbk PT | 3,942,900 | 2,226,222 | ||||||
Sumber Alfaria Trijaya Tbk PT | 62,954,100 | 10,266,361 | ||||||
Telkom Indonesia Persero Tbk PT | 84,789,600 | 15,123,860 | ||||||
71,696,778 | ||||||||
Kuwait — 2.3% | ||||||||
Boubyan Bank KSCP | 1,466,287 | 2,770,960 | ||||||
Kuwait Finance House KSCP | 13,431,912 | 32,017,371 | ||||||
Mobile Telecommunications Co. KSCP | 9,706,904 | 14,295,263 | ||||||
National Bank of Kuwait SAKP | 17,841,598 | 49,871,816 | ||||||
98,955,410 | ||||||||
Malaysia — 4.2% | ||||||||
CELCOMDIGI Bhd | 11,737,400 | 9,502,858 | ||||||
Gamuda Bhd | 3,229,554 | 4,164,732 | ||||||
Genting Malaysia Bhd | 3,946,900 | 2,226,198 |
2
Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Min Vol Factor ETF |
May 31, 2024 | (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Malaysia (continued) | ||||||||
Hong Leong Bank Bhd | 4,351,800 | $ | 17,823,890 | |||||
IHH Healthcare Bhd(d) | 19,395,300 | 25,506,035 | ||||||
IOI Corp. Bhd | 2,614,000 | 2,124,266 | ||||||
Malayan Banking Bhd | 20,737,900 | 43,760,498 | ||||||
Malaysia Airports Holdings Bhd | 7,606,700 | 16,069,830 | ||||||
MISC Bhd | 2,319,800 | 4,112,706 | ||||||
MR DIY Group M Bhd(b)(d) | 18,607,350 | 7,155,153 | ||||||
Nestle Malaysia Bhd | 869,600 | 23,573,605 | ||||||
PPB Group Bhd | 1,113,400 | 3,491,350 | ||||||
Public Bank Bhd | 3,967,000 | 3,456,810 | ||||||
QL Resources Bhd | 2,495,959 | 3,340,672 | ||||||
Telekom Malaysia Bhd | 3,664,000 | 4,840,855 | ||||||
Tenaga Nasional Bhd | 4,490,900 | 12,441,329 | ||||||
183,590,787 | ||||||||
Mexico — 0.8% | ||||||||
America Movil SAB de CV | 15,844,354 | 14,680,296 | ||||||
Wal-Mart de Mexico SAB de CV | 4,978,175 | 18,716,753 | ||||||
33,397,049 | ||||||||
Peru — 0.9% | ||||||||
Cia. de Minas Buenaventura SAA, ADR | 951,079 | 17,024,313 | ||||||
Credicorp Ltd. | 128,373 | 21,222,624 | ||||||
38,246,937 | ||||||||
Philippines — 1.6% | ||||||||
Bank of the Philippine Islands | 9,894,825 | 20,323,957 | ||||||
BDO Unibank Inc. | 4,231,075 | 9,399,175 | ||||||
International Container Terminal Services Inc. | 3,427,110 | 20,005,140 | ||||||
Jollibee Foods Corp. | 2,953,620 | 10,938,464 | ||||||
Manila Electric Co. | 1,318,650 | 8,274,236 | ||||||
SM Investments Corp. | 149,615 | 2,226,445 | ||||||
71,167,417 | ||||||||
Qatar — 2.2% | ||||||||
Dukhan Bank | 4,595,439 | 4,466,720 | ||||||
Masraf Al Rayan QSC | 12,964,610 | 8,206,348 | ||||||
Ooredoo QPSC | 7,363,161 | 19,000,612 | ||||||
Qatar Electricity & Water Co. QSC | 5,211,986 | 21,471,555 | ||||||
Qatar Fuel QSC | 1,666,797 | 6,150,289 | ||||||
Qatar Gas Transport Co. Ltd. | 3,439,186 | 3,763,462 | ||||||
Qatar Islamic Bank SAQ | 1,969,818 | 9,331,576 | ||||||
Qatar National Bank QPSC | 7,071,699 | 26,257,099 | ||||||
98,647,661 | ||||||||
Russia — 0.0% | ||||||||
Polyus PJSC(a)(c) | 95,932 | 11 | ||||||
Rosneft Oil Co. PJSC(a)(c) | 759,070 | 84 | ||||||
Yandex NV(a)(c) | 49,681 | 5 | ||||||
100 | ||||||||
Saudi Arabia — 8.6% | ||||||||
ACWA Power Co. | 76,744 | 8,249,036 | ||||||
Advanced Petrochemical Co. | 468,053 | 5,017,959 | ||||||
Al Rajhi Bank | 1,403,022 | 28,579,123 | ||||||
Alinma Bank | 803,236 | 6,564,310 | ||||||
Almarai Co. JSC | 651,945 | 9,090,763 | ||||||
Arabian Internet & Communications Services Co. | 282,214 | 19,913,063 | ||||||
Bank Al-Jazira(a) | 904,077 | 3,627,659 | ||||||
Bupa Arabia for Cooperative Insurance Co. | 261,464 | 16,103,176 | ||||||
Co. for Cooperative Insurance (The) | 358,629 | 12,609,182 | ||||||
Dallah Healthcare Co. | 118,526 | 5,240,440 | ||||||
Dar Al Arkan Real Estate Development Co.(a) | 1,959,408 | 6,237,591 | ||||||
Dr Sulaiman Al Habib Medical Services Group Co. | 137,866 | 9,815,442 | ||||||
Elm Co. | 94,623 | 20,204,844 | ||||||
Etihad Etisalat Co. | 2,614,855 | 32,742,204 |
Security | Shares | Value | ||||||
Saudi Arabia (continued) | ||||||||
Jarir Marketing Co. | 7,054,684 | $ | 23,989,595 | |||||
Mobile Telecommunications Co. Saudi Arabia | 5,304,202 | 15,980,346 | ||||||
Mouwasat Medical Services Co. | 63,581 | 1,813,839 | ||||||
Nahdi Medical Co. | 61,427 | 2,154,040 | ||||||
SABIC Agri-Nutrients Co. | 709,196 | 20,088,864 | ||||||
Saudi Arabian Oil Co.(b) | 5,040,131 | 38,964,088 | ||||||
Saudi Basic Industries Corp. | 929,149 | 18,867,736 | ||||||
Saudi Electricity Co. | 2,802,506 | 12,516,320 | ||||||
Saudi National Bank (The) | 232,102 | 2,107,810 | ||||||
Saudi Telecom Co. | 5,544,042 | 53,212,870 | ||||||
Yanbu National Petrochemical Co. | 547,330 | 5,286,831 | ||||||
378,977,131 | ||||||||
South Korea — 6.1% | ||||||||
Celltrion Inc. | 53,083 | 6,776,118 | ||||||
CJ CheilJedang Corp. | 8,003 | 2,020,186 | ||||||
Coway Co. Ltd. | 157,179 | 6,436,815 | ||||||
Hyundai Mobis Co. Ltd. | 20,628 | 3,216,212 | ||||||
Kangwon Land Inc. | 380,196 | 4,100,932 | ||||||
Kia Corp. | 41,771 | 3,565,415 | ||||||
Korea Electric Power Corp.(a) | 840,654 | 11,826,972 | ||||||
KT Corp. | 242,037 | 6,462,282 | ||||||
KT&G Corp. | 439,280 | 26,515,695 | ||||||
LG Electronics Inc. | 34,929 | 2,656,833 | ||||||
LG Uplus Corp. | 1,115,678 | 7,791,458 | ||||||
Orion Corp./Republic of Korea | 164,052 | 10,853,980 | ||||||
Samsung Biologics Co. Ltd.(a)(b) | 49,806 | 26,274,933 | ||||||
Samsung C&T Corp. | 76,028 | 7,440,782 | ||||||
Samsung Electro-Mechanics Co. Ltd. | 74,655 | 8,357,607 | ||||||
Samsung Electronics Co. Ltd. | 798,613 | 42,312,753 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. | 16,919 | 4,271,285 | ||||||
Samsung SDS Co. Ltd. | 248,278 | 27,543,361 | ||||||
SK Hynix Inc. | 188,741 | 26,006,291 | ||||||
SK Telecom Co. Ltd. | 583,824 | 21,544,145 | ||||||
Yuhan Corp. | 220,698 | 11,025,812 | ||||||
266,999,867 | ||||||||
Taiwan — 15.1% | ||||||||
Accton Technology Corp. | 471,000 | 7,375,077 | ||||||
Advantech Co. Ltd. | 2,338,940 | 25,607,764 | ||||||
Asustek Computer Inc. | 658,000 | 10,475,595 | ||||||
Catcher Technology Co. Ltd. | 4,405,000 | 30,606,165 | ||||||
Cathay Financial Holding Co. Ltd. | 3,442,020 | 5,989,742 | ||||||
Chang Hwa Commercial Bank Ltd. | 5,980,525 | 3,366,796 | ||||||
China Steel Corp. | 7,193,000 | 5,279,324 | ||||||
Chunghwa Telecom Co. Ltd. | 17,042,000 | 67,431,211 | ||||||
Compal Electronics Inc. | 16,559,000 | 19,015,411 | ||||||
Delta Electronics Inc. | 549,000 | 5,532,001 | ||||||
E.Sun Financial Holding Co. Ltd. | 28,048,250 | 24,803,466 | ||||||
Far EasTone Telecommunications Co. Ltd. | 19,795,000 | 51,064,497 | ||||||
First Financial Holding Co. Ltd. | 57,398,399 | 48,826,593 | ||||||
Formosa Petrochemical Corp. | 3,529,000 | 7,361,921 | ||||||
Hon Hai Precision Industry Co. Ltd. | 3,054,000 | 16,264,064 | ||||||
Hua Nan Financial Holdings Co. Ltd. | 27,304,906 | 21,127,502 | ||||||
Innolux Corp. | 9,853,000 | 4,243,050 | ||||||
Mega Financial Holding Co. Ltd. | 9,713,810 | 11,734,568 | ||||||
Pegatron Corp. | 1,243,000 | 4,079,231 | ||||||
PharmaEssentia Corp.(a) | 315,000 | 4,061,746 | ||||||
Pou Chen Corp. | 4,006,000 | 4,645,319 | ||||||
President Chain Store Corp. | 5,765,000 | 48,101,691 | ||||||
Quanta Computer Inc. | 526,000 | 4,469,099 | ||||||
Synnex Technology International Corp. | 6,915,000 | 18,025,277 | ||||||
Taiwan Business Bank | 22,288,448 | 11,652,662 |
3
Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Min Vol Factor ETF |
May 31, 2024 | (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Taiwan (continued) | ||||||||
Taiwan Cement Corp. | 6,240,000 | $ | 6,371,175 | |||||
Taiwan Cooperative Financial Holding Co. Ltd. | 56,324,884 | 44,482,936 | ||||||
Taiwan High Speed Rail Corp. | 12,244,000 | 11,350,737 | ||||||
Taiwan Mobile Co. Ltd. | 20,486,000 | 66,853,016 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 1,204,000 | 30,831,949 | ||||||
Uni-President Enterprises Corp. | 8,099,000 | 20,023,336 | ||||||
WPG Holdings Ltd. | 8,556,440 | 22,826,040 | ||||||
663,878,961 | ||||||||
Thailand — 4.0% | ||||||||
Advanced Info Service PCL, NVDR | 8,475,100 | 46,811,544 | ||||||
Airports of Thailand PCL, NVDR(d) | 29,329,600 | 51,918,678 | ||||||
Bangkok Dusit Medical Services PCL, NVDR | 23,005,300 | 16,898,385 | ||||||
Bangkok Expressway & Metro PCL, NVDR(d) | 9,552,700 | 2,043,182 | ||||||
Bumrungrad Hospital PCL, NVDR | 3,269,600 | 21,525,299 | ||||||
Central Retail Corp. PCL, NVDR(d) | 7,481,600 | 6,228,562 | ||||||
Intouch Holdings PCL, NVDR | 10,501,600 | 19,256,404 | ||||||
PTT Oil & Retail Business PCL, NVDR(d) | 17,277,400 | 8,520,060 | ||||||
173,202,114 | ||||||||
Turkey — 1.3% | ||||||||
Akbank TAS | 1,060,116 | 2,184,500 | ||||||
Aselsan Elektronik Sanayi Ve Ticaret A/S | 3,480,956 | 6,335,738 | ||||||
BIM Birlesik Magazalar A/S | 314,616 | 4,686,544 | ||||||
Coca-Cola Icecek A/S | 198,051 | 4,680,342 | ||||||
KOC Holding AS | 348,562 | 2,576,632 | ||||||
Pegasus Hava Tasimaciligi AS(a) | 325,684 | 2,039,615 | ||||||
Turk Hava Yollari AO(a) | 1,423,203 | 13,371,547 | ||||||
Turkcell Iletisim Hizmetleri AS | 2,644,626 | 8,174,370 | ||||||
Turkiye Petrol Rafinerileri AS | 583,414 | 3,199,220 | ||||||
Turkiye Sise ve Cam Fabrikalari AS | 3,634,683 | 5,613,067 | ||||||
Yapi ve Kredi Bankasi A/S | 2,513,381 | 2,520,928 | ||||||
55,382,503 | ||||||||
United Arab Emirates — 3.2% | ||||||||
Abu Dhabi National Oil Co. for Distribution PJSC | 39,028,766 | 34,459,657 | ||||||
Aldar Properties PJSC | 7,697,591 | 11,526,320 | ||||||
Americana Restaurants International PLC | 11,311,860 | 9,978,200 | ||||||
Dubai Islamic Bank PJSC | 21,337,167 | 32,066,310 | ||||||
Emaar Properties PJSC | 765,780 | 1,597,004 | ||||||
Emirates NBD Bank PJSC | 3,277,502 | 13,875,432 | ||||||
Emirates Telecommunications Group Co. PJSC | 4,067,293 | 17,828,077 | ||||||
First Abu Dhabi Bank PJSC | 4,745,158 | 14,985,865 | ||||||
Multiply Group PJSC(a) | 10,809,142 | 5,561,939 | ||||||
141,878,804 | ||||||||
Total Common Stocks — 99.4% | ||||||||
(Cost: $3,648,626,245) | 4,357,242,974 | |||||||
Preferred Stocks | ||||||||
Brazil — 0.1% | ||||||||
Cia. Paranaense de Energia - Copel, Preference | ||||||||
Shares, NVS | 3,729,433 | 6,449,038 |
Security | Shares | Value | ||||||
Russia — 0.0% | ||||||||
Surgutneftegas PJSC, Preference Shares, NVS(a)(c) | 40,815,200 | $ | 4,514 | |||||
South Korea — 0.6% | ||||||||
Samsung Electronics Co. Ltd., Preference | ||||||||
Shares, NVS | 587,930 | 25,652,009 | ||||||
Total Preferred Stocks — 0.7% | ||||||||
(Cost: $53,773,643) | 32,105,561 |
Rights | ||||||||
China — 0.0% | ||||||||
Kangmei Pharmaceutical Co. Ltd., | ||||||||
(Expires 12/31/49)(c) | 155,535 | — | ||||||
Total Rights — 0.0% | ||||||||
(Cost: $—) | — | |||||||
Total Long-Term Investments — 100.1% | ||||||||
(Cost: $3,702,399,888) | 4,389,348,535 |
Short-Term Securities | ||||||||
Money Market Funds — 0.3% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency | ||||||||
Shares, 5.49%(e)(f)(g) | 13,054,974 | 13,058,891 | ||||||
Total Short-Term Securities — 0.3% | ||||||||
(Cost: $13,058,230) | 13,058,891 | |||||||
Total Investments — 100.4% | ||||||||
(Cost: $3,715,458,118) | 4,402,407,426 | |||||||
Liabilities in Excess of Other Assets — (0.4)% | (18,670,652 | ) | ||||||
Net Assets—100.0% | $ | 4,383,736,774 |
(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 |
May 31, 2024 |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 2024 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 Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 05/31/24 | Shares Held at 05/31/24 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 40,433,121 | $ | — | $ | (27,380,592 | )(a) | $ | 17,524 | $ | (11,162 | ) | $ | 13,058,891 | 13,054,974 | $ | 81,999 | (b) | $ | — | ||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares(c) | 1,290,000 | — | (1,290,000 | )(a) | — | — | — | — | 578,407 | — | ||||||||||||||||||||||||||
$ | 17,524 | $ | (11,162 | ) | $ | 13,058,891 | $ | 660,406 | $ | — |
(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 | 127 | 06/21/24 | $ | 6,709 | $ | (254,185 | ) | |||||||
2-Year U.S. Treasury Note | 6 | 09/30/24 | 1,223 | 836 | ||||||||||
$ | (253,349 | ) |
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.
5
Schedule of Investments (unaudited) (continued) | iShares® MSCI Emerging Markets Min Vol Factor ETF |
May 31, 2024 |
Fair Value Hierarchy as of Period End (continued)
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 | $ | 659,268,391 | $ | 3,697,974,475 | $ | 108 | $ | 4,357,242,974 | ||||||||
Preferred Stocks | 6,449,038 | 25,652,009 | 4,514 | 32,105,561 | ||||||||||||
Rights | — | — | — | — | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 13,058,891 | — | — | 13,058,891 | ||||||||||||
$ | 678,776,320 | $ | 3,723,626,484 | $ | 4,622 | $ | 4,402,407,426 | |||||||||
Derivative Financial Instruments(a) | ||||||||||||||||
Assets | ||||||||||||||||
Interest Rate Contracts | $ | 836 | $ | — | $ | — | $ | 836 | ||||||||
Liabilities | ||||||||||||||||
Equity Contracts | (254,185 | ) | — | — | (254,185 | ) | ||||||||||
$ | (253,349 | ) | $ | — | $ | — | $ | (253,349 | ) |
(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