# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001193125-25-155546
**Filing Date:** 2025-7
**Character Count:** 4249662
**Document Hash:** 3104abe4356cf5cb102f2ee810e8fb39
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-155546.hdr.sgml**: 20250703

**ACCESSION NUMBER**: 0001193125-25-155546

**CONFORMED SUBMISSION TYPE**: N-CSR/A

**PUBLIC DOCUMENT COUNT**: 80

**CONFORMED PERIOD OF REPORT**: 20240731

**FILED AS OF DATE**: 20250703

**DATE AS OF CHANGE**: 20250703

**EFFECTIVENESS DATE**: 20250703

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iSHARES TRUST
- **CENTRAL INDEX KEY:** 0001100663

**ORGANIZATION NAME:**
- **EIN:** 943351276
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSR/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 251106409

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** (415) 670-2000

**MAIL ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ISHARES TRUST
- **DATE OF NAME CHANGE:** 19991213

## Series and Classes Contracts Data

### iShares MSCI EAFE ETF (Series ID: S000004351)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000012081 | iShares MSCI EAFE ETF | EFA             |

### iShares China Large-Cap ETF (Series ID: S000004364)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000012094 | iShares China Large-Cap ETF | FXI             |

### iShares MSCI EAFE Growth ETF (Series ID: S000004437)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000012200 | iShares MSCI EAFE Growth ETF | EFG             |

### iShares MSCI EAFE Value ETF (Series ID: S000004438)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000012201 | iShares MSCI EAFE Value ETF | EFV             |

### iShares MSCI Europe Small-Cap ETF (Series ID: S000018145)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000050168 | iShares MSCI Europe Small-Cap ETF | IEUS            |

### iShares MSCI EAFE Small-Cap ETF (Series ID: S000019124)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000052896 | iShares MSCI EAFE Small-Cap ETF | SCZ             |

### iShares MSCI Kokusai ETF (Series ID: S000019898)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000055846 | iShares MSCI Kokusai ETF | TOK             |

### iShares MSCI ACWI ex U.S. ETF (Series ID: S000021460)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000061363 | iShares MSCI ACWI ex U.S. ETF | ACWX            |

### iShares MSCI ACWI ETF (Series ID: S000021461)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000061364 | iShares MSCI ACWI ETF | ACWI            |

### iShares MSCI All Country Asia ex Japan ETF (Series ID: S000022496)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000065072 | iShares MSCI All Country Asia ex Japan ETF | AAXJ            |

### iShares MSCI Europe Financials ETF (Series ID: S000027327)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000082529 | iShares MSCI Europe Financials ETF | EUFN            |

### iShares MSCI EAFE Min Vol Factor ETF (Series ID: S000031837)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000099140 | iShares MSCI EAFE Min Vol Factor ETF | EFAV            |

### iShares Core MSCI EAFE ETF (Series ID: S000038930)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000119715 | iShares Core MSCI EAFE ETF | IEFA            |

### iShares Core MSCI Total International Stock ETF (Series ID: S000038931)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000119716 | iShares Core MSCI Total International Stock ETF | IXUS            |

### iShares Currency Hedged MSCI EAFE ETF (Series ID: S000043040)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000133231 | iShares Currency Hedged MSCI EAFE ETF | HEFA            |

### iShares Core MSCI Europe ETF (Series ID: S000045102)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000140337 | iShares Core MSCI Europe ETF | IEUR            |

### iShares Core MSCI Pacific ETF (Series ID: S000045103)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000140338 | iShares Core MSCI Pacific ETF | IPAC            |

### iShares MSCI China A ETF (Series ID: S000047435)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000148919 | iShares MSCI China A ETF | CNYA            |

### iShares MSCI Intl Momentum Factor ETF (Series ID: S000047503)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000149147 | iShares MSCI Intl Momentum Factor ETF | IMTM            |

### iShares MSCI Intl Quality Factor ETF (Series ID: S000047504)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000149148 | iShares MSCI Intl Quality Factor ETF | IQLT            |

### iShares MSCI ACWI Low Carbon Target ETF (Series ID: S000047644)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000149539 | iShares MSCI ACWI Low Carbon Target ETF | CRBN            |

### iShares Exponential Technologies ETF (Series ID: S000048311)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000152570 | iShares Exponential Technologies ETF | XT              |

### iShares Global Equity Factor ETF (Series ID: S000048622)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000153270 | iShares Global Equity Factor ETF | GLOF            |

### iShares International Equity Factor ETF (Series ID: S000049024)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000154547 | iShares International Equity Factor ETF | INTF            |

### iShares International Small-Cap Equity Factor ETF (Series ID: S000049025)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000154548 | iShares International Small-Cap Equity Factor ETF | ISCF            |

### iShares MSCI Intl Size Factor ETF (Series ID: S000049572)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000156613 | iShares MSCI Intl Size Factor ETF | ISZE            |

### iShares MSCI Intl Value Factor ETF (Series ID: S000049573)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000156614 | iShares MSCI Intl Value Factor ETF | IVLU            |

### iShares Currency Hedged MSCI ACWI ex U.S. ETF (Series ID: S000049792)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000157303 | iShares Currency Hedged MSCI ACWI ex U.S. ETF | HAWX            |

### iShares Currency Hedged MSCI EAFE Small-Cap ETF (Series ID: S000049795)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000157306 | iShares Currency Hedged MSCI EAFE Small-Cap ETF | HSCZ            |

### iShares Core MSCI International Developed Markets ETF (Series ID: S000056604)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000179059 | iShares Core MSCI International Developed Markets ETF | IDEV            |

### iShares Future AI & Tech ETF (Series ID: S000062201)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000201209 | iShares Future AI & Tech ETF | ARTY            |

### iShares Self-Driving EV and Tech ETF (Series ID: S000063520)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000205801 | iShares Self-Driving EV and Tech ETF | IDRV            |

### iShares Future Cloud 5G and Tech ETF (Series ID: S000065014)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000210492 | iShares Future Cloud 5G and Tech ETF | IDAT            |

### iShares Cybersecurity and Tech ETF (Series ID: S000065015)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000210493 | iShares Cybersecurity and Tech ETF | IHAK            |

### iShares Genomics Immunology and Healthcare ETF (Series ID: S000065599)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000212225 | iShares Genomics Immunology and Healthcare ETF | IDNA            |

### iShares Virtual Work and Life Multisector ETF (Series ID: S000069338)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000221317 | iShares Virtual Work and Life Multisector ETF | IWFH            |

### iShares Neuroscience and Healthcare ETF (Series ID: S000076483)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000236410 | iShares Neuroscience and Healthcare ETF | IBRN            |

### iShares Breakthrough Environmental Solutions ETF (Series ID: S000079480)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000240517 | iShares Breakthrough Environmental Solutions ETF | ETEC            |

### iShares Energy Storage & Materials ETF (Series ID: S000083386)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000246989 | iShares Energy Storage & Materials ETF | IBAT            |

?xml version='1.0' encoding='ASCII'? iShares Trust

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

#### FORM N-CSR/A

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number:

811-09729

Name of Fund:

iShares Trust

Fund Address: c/o BlackRock Fund Advisors, 400 Howard Street, San Francisco, CA 94105

Name and address of agent for service: The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801

Registrant's telephone number, including area code:

&nbsp;&nbsp;&nbsp;&nbsp;(415) 670-2000

Date of fiscal year end:

7/31/2024

Date of reporting period:

7/31/2024

Item 1 — Report to Stockholders

**Explanatory Note:** The Registrant is filing this amendment to its Form N-CSR for the period ended July 31, 2024, filed with the Securities and Exchange Commission on October 3, 2024 (Accession Number 0001193125-24-232031). The sole purpose of this amendment is to update the returns for the S&P Developed ex US Broad Market Index. Except for such change, this amendment does not amend, update or change any other items or disclosures found in the original Form N-CSR filing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Report to Shareholders is attached herewith

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Breakthrough Environmental Solutions ETF

### ETEC \| NASDAQ

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Breakthrough Environmental Solutions ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Breakthrough Environmental Solutions ETF | $42 | 0.47% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* Sustainable and renewable energy stocks declined during the period as they faced growing competition from fossil fuel companies and reduced subsidies. 

* Market sentiment swung late in the one-year period amid a shift away from information technology stocks and growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Germany is a long-time leader in renewable energy and environmental technologies and has ambitious renewable targets. During the reporting period, an energy company that received a multi-billion-dollar deal in project-related guarantees backed by the German government contributed to the Fund's return. The firm is a maker of gas and wind turbines as well as large converter stations, vital equipment for the country's efforts to gradually phase out fossil fuels. Also contributing to the Fund's return was Europe's top operator of energy networks, as the firm raised its five-year investment target.

What detracted from performance?

China comprised 19% of the Fund on average during the reporting period and was also the largest detractor from the Fund's return. Electric vehicle manufacturers fell sharply as the United States, the European Union, and Latin America increased tariffs on Chinese imports, and fears grew that more countries would do the same. The sanctions also negatively impacted semiconductor manufacturer companies in the information technology sector. A Korean electronics components company fell due to declining demand for consumer electronics, supply chain disruptions, and economic uncertainties impacting global markets.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: March 28, 2023 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268633.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br>Inception* |
| Fund NAV | (19.71) % | (9.72) % |
| Fund Market | (19.69) | (9.82) |
| MSCI All Country World Index | 17.02 | 23.64 |
| Morningstar<sup>®</sup> Global Emerging Green Technologies Select Index<sup>℠</sup> | (19.56) | (9.23) |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$3347414 |
| Number of Portfolio Holdings | &nbsp;&nbsp;46 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$16437 |
| Portfolio Turnover Rate | &nbsp;&nbsp;68% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

The inception date of the Fund was March 28, 2023. The first day of secondary market trading was March 30, 2023.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Industry allocation

---

| | |
|:---|:---|
| *Industry* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Semiconductors & Semiconductor Equipment | 23.6% |
| Machinery | 18.8% |
| Electrical Equipment | 17.7% |
| Automobiles | 17.6% |
| Chemicals | 8.4% |
| Automobile Components | 6.3% |
| Electronic Equipment, Instruments & Components | 5.3% |
| Leisure Products | 1.8% |
| Commercial Services & Supplies | 0.5% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 29.9% |
| China | 19.4% |
| Japan | 13.1% |
| Taiwan | 11.0% |
| South Korea | 7.5% |
| United Kingdom | 5.0% |
| Germany | 4.6% |
| Belgium | 3.5% |
| Finland | 3.2% |
| Denmark | 2.8% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc., Morningstar, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Breakthrough Environmental Solutions ETF

Annual Shareholder Report — July 31, 2024

ETEC-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares China Large-Cap ETF

### FXI \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares China Large-Cap ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares China Large-Cap ETF | $69 | 0.74% |

---

How did the Fund perform last year?

* Emerging market equities rose during the reporting period but underperformed the broader markets as geopolitical uncertainty and a stronger U.S. dollar weighed on performance. 

* China's economic struggles continued, with the housing sector facing particular challenges due to a major property company defaulting and falling home prices. Overall weak domestic demand has led to substantial stimulus packages by the Chinese government in an attempt to boost retail spending and consumer confidence. 

* The major policy interventions enacted by the Chinese government helped to ease investor concerns, but equities still underperformed the broader markets during the period. 

What contributed to performance?

The financials sector modestly contributed to the Fund's return during the reporting period, as stimulus measures by the Chinese government sought to increase consumer confidence. News that a Chinese sovereign wealth fund increased its holdings in the country's four major lenders also benefited those stocks.

What detracted from performance?

Large-cap Chinese equities experienced negative performance for the reporting period, pulled down by weak domestic economic growth and increasing regulatory actions from the Chinese government. Automobile stocks were among the largest detractors from the Fund's return, particularly electric vehicle ("E.V.") manufacturers. Stocks of E.V. makers fell sharply as the United States, the European Union, and Latin America increased tariffs on Chinese imports, and fears grew that more countries would do the same. The threat of sanctions also negatively impacted the information technology sector, as did intensifying price wars within China's artificial intelligence services.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269749.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | (12.73) % | (7.01) % | (2.22) % |
| Fund Market | (13.07) | (6.83) | (2.11) |
| FTSE Emerging All Cap Index | 8.14 | 4.63 | 3.61 |
| FTSE China 50 Index | (10.92) | (6.18) | (1.43) |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$4249391729 |
| Number of Portfolio Holdings | &nbsp;&nbsp;53 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$34540718 |
| Portfolio Turnover Rate | &nbsp;&nbsp;18% |

---

The Fund has added the FTSE Emerging All Cap Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Consumer Discretionary | 32.7% |
| Financials | 30.4% |
| Communication Services | 18.1% |
| Energy | 6.8% |
| Information Technology | 3.9% |
| Materials | 1.9% |
| Real Estate | 1.8% |
| Industrials | 1.8% |
| Health Care | 1.2% |
| Consumer Staples | 0.8% |
| Utilities | 0.6% |

---

Ten largest holdings

---

| | |
|:---|:---|
| *Security* | *Percent of Total <br>Investments<sup>(a)</sup>* |
| Alibaba Group Holding Ltd. | 9.9% |
| Tencent Holdings Ltd. | 8.9% |
| Meituan, Class B | 8.2% |
| China Construction Bank Corp., Class H | 7.3% |
| Industrial & Commercial Bank of China Ltd., Class H | 4.9% |
| Bank of China Ltd., Class H | 4.4% |
| NetEase Inc. | 4.1% |
| Xiaomi Corp., Class B | 3.9% |
| JD.com Inc. | 3.8% |
| BYD Co. Ltd., Class H | 3.7% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by FTSE International Limited and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares China Large-Cap ETF

Annual Shareholder Report — July 31, 2024

FXI-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Core MSCI EAFE ETF

### IEFA \| Cboe BZX Exchange

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Core MSCI EAFE ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Core MSCI EAFE ETF | $7 | 0.07% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* The European Central Bank cut its primary lending rate by 0.25% in June while the Bank of Japan exited its zero-interest rate policy that it had held since 2016, raising its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise about 24% of the Fund on average, contributed the most to the Fund's return during the reporting period. Japan's stock market accelerated to new highs following ongoing corporate reforms and as the Bank of Japan ended its negative interest rate policy. This interest rate increase helped Japanese banks increase lending profits and net interest margins (the difference between interest revenue and interest expenses of a financial firm). In the United Kingdom, which comprises about 15% of the Fund on average, the financials sector was helped by solid lending income attributed to higher interest rates.

What detracted from performance?

Hong Kong stocks suffered from malaise related to economic weakness in China during the reporting period. As a special administrative region of China, many stocks are dual listed in Hong Kong and China, making them susceptible to China's recent economic slowdown and increased regulatory scrutiny. Hong Kong's financials sector was particularly impacted by slowing Chinese growth, while slumping property values hindered the real estate sector.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269422.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 11.24% | 7.30% | 5.07% |
| Fund Market | 10.99 | 7.44 | 5.10 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI EAFE IMI Index | 10.92 | 7.08 | 4.87 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$120159549449 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2745 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$74958004 |
| Portfolio Turnover Rate | &nbsp;&nbsp;2% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total <br>Investments<sup>(a)</sup>* |
| Financials | 19.3% |
| Industrials | 17.9% |
| Health Care | 12.6% |
| Consumer Discretionary | 11.3% |
| Information Technology | 9.2% |
| Consumer Staples | 8.3% |
| Materials | 6.9% |
| Communication Services | 4.1% |
| Energy | 3.9% |
| Real Estate | 3.3% |
| Utilities | 3.2% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total <br>Investments<sup>(a)</sup>* |
| Japan | 25.0% |
| United Kingdom | 15.2% |
| France | 10.1% |
| Switzerland | 9.1% |
| Germany | 7.9% |
| Australia | 7.7% |
| Netherlands | 4.5% |
| Denmark | 3.6% |
| Sweden | 3.5% |
| Italy | 2.8% |
| Other<sup>#</sup> | 10.6% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Core MSCI EAFE ETF

Annual Shareholder Report — July 31, 2024

IEFA-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Core MSCI Europe ETF

### IEUR \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Core MSCI Europe ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Core MSCI Europe ETF | $10 | 0.09% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. 

* As inflation moved closer to central bank targets, several countries began lowering borrowing costs, beginning with Switzerland and Sweden. In a major turning point in monetary policy, the European Central Bank cut its primary lending rate by 0.25% in June. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Stocks in the United Kingdom ("U.K."), which comprise approximately 23% of the Fund on average, contributed meaningfully to the Fund's return during the reporting period. In the financials sector, U.K. banks benefited from solid lending income attributed to higher interest rates, while performance fee income helped asset managers. Stocks in the U.K. industrials sector were helped by increased government actions aimed at boosting manufacturing in the country. In Denmark, the healthcare sector contributed to the Fund's performance, as pharmaceutical and biotechnology stocks gained amid positive clinical trials and enthusiasm over GLP-1 weight loss drugs.

What detracted from performance?

On a country level, there were no detractors from the Fund's performance for the reporting period. However, consumer discretionary and consumer staples stocks hindered performance. Amid economic uncertainty and rising raw material costs, luxury stocks across Europe were notable detractors, as a shift in consumer preferences and eroding confidence caused weakness among higher-end retailers. These same factors also affected beverage stocks within the consumer staples sector.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269319.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 11.40% | 8.09% | 5.11% |
| Fund Market | 11.40 | 8.26 | 5.10 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI Europe IMI | 10.70 | 7.83 | 4.86 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$4630353384 |
| Number of Portfolio Holdings | &nbsp;&nbsp;1011 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$3911942 |
| Portfolio Turnover Rate | &nbsp;&nbsp;5% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 18.6% |
| Industrials | 17.5% |
| Health Care | 15.6% |
| Consumer Staples | 10.1% |
| Consumer Discretionary | 9.9% |
| Information Technology | 7.9% |
| Materials | 6.4% |
| Energy | 5.2% |
| Utilities | 3.8% |
| Communication Services | 3.3% |
| Real Estate | 1.7% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United Kingdom | 24.1% |
| France | 16.0% |
| Switzerland | 14.5% |
| Germany | 12.6% |
| Netherlands | 7.2% |
| Sweden | 5.6% |
| Denmark | 5.6% |
| Italy | 4.4% |
| Spain | 4.0% |
| Belgium | 1.7% |
| Other<sup>#</sup> | 4.3% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Material Fund Changes
This is a summary of certain changes to the Fund since July 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after July 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

The net expense ratio decreased from the prior fiscal year end primarily due to a decrease in professional fees for foreign withholding tax claims.

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Core MSCI Europe ETF

Annual Shareholder Report — July 31, 2024

IEUR-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Core MSCI International Developed Markets ETF

### IDEV \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Core MSCI International Developed Markets ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Core MSCI International Developed Markets ETF | $4 | 0.04% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. The information technology sector led markets amid enthusiasm over artificial intelligence ("AI"). 

* Amid challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June. However, the Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise about 22% of the Fund on average, meaningfully contributed to the Fund's return during the reporting period. The country's stock market benefited from resilient economic growth, corporate structural reforms, and a return to monetary policy normalization. Banking stocks were helped as rising interest rates contributed to higher yields on loans and bonds held. The industrials sector was supported by a weaker yen, higher exports, and increased demand for factory construction and large-scale redevelopment projects. Financial stocks in the United Kingdom ("U.K.") benefited from solid lending income attributed to higher interest rates, while performance fee income helped asset managers.

What detracted from performance?

Hong Kong stocks suffered from malaise related to economic weakness in China during the reporting period. As a special administrative region of China, many stocks are dual listed in Hong Kong and China and are more susceptible to China's recent economic slowdown and regulatory scrutiny. Hong Kong's financials sector was particularly impacted by slowing Chinese growth, while slumping property values hindered the real estate sector.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: March 21, 2017 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268877.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 11.22% | 7.50% | 6.91% |
| Fund Market | 10.98 | 7.66 | 6.91 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 6.00 |
| MSCI World ex USA Investable Market Index | 10.82 | 7.25 | 6.62 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$14110677357 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2228 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$4880880 |
| Portfolio Turnover Rate | &nbsp;&nbsp;3% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

The inception date of the Fund was March 21, 2017. The first day of secondary market trading was March 23, 2017.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 20.7% |
| Industrials | 17.3% |
| Health Care | 11.3% |
| Consumer Discretionary | 10.5% |
| Information Technology | 9.1% |
| Consumer Staples | 7.9% |
| Materials | 7.6% |
| Energy | 5.5% |
| Communication Services | 3.8% |
| Utilities | 3.2% |
| Real Estate | 3.1% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 22.4% |
| United Kingdom | 13.6% |
| Canada | 10.5% |
| France | 9.0% |
| Switzerland | 8.2% |
| Germany | 7.1% |
| Australia | 6.8% |
| Netherlands | 4.0% |
| Denmark | 3.2% |
| Sweden | 3.2% |
| Other<sup>#</sup> | 12.0% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Core MSCI International Developed Markets ETF

Annual Shareholder Report — July 31, 2024

IDEV-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Core MSCI Pacific ETF

### IPAC \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Core MSCI Pacific ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Core MSCI Pacific ETF | $10 | 0.09% |

---

How did the Fund perform last year?

* Asian equities rose during the reporting period but underperformed the broader markets amid weakening growth in China and a stronger U.S. dollar. 

* Japanese equities meaningfully outperformed their Asian peers, supported by central bank actions and improved corporate governance. The Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Conversely, in China, weak economic growth led to substantial government stimulus packages intended to boost retail spending and consumer confidence. 

What contributed to performance?

Japanese equities, which comprise about 68% of the Fund on average, overwhelmingly contributed to the Fund's return during the reporting period. The country's stock market accelerated to new highs, benefiting from resilient economic growth, corporate structural reforms, and a return to monetary policy normalization. Banking stocks positively impacted the Fund's return as rising interest rates contributed to higher yields on loans and bonds held by banks. The industrials sector was supported by a weaker yen, higher exports, and increased demand for factory construction and large-scale redevelopment projects. The Japanese government's policies aimed at promoting digital transformation and innovation in technology sectors also boosted the performance of information technology stocks.

What detracted from performance?

Stocks in Hong Kong detracted from the Fund's return during the reporting period. Given Hong Kong's status as a special administrative region of China, stocks were more susceptible to China's economic slowdown and regulatory scrutiny. The financials stocks declined amid tightened regulations and deteriorating U.S.-China relations, while slumping property values hindered the real estate sector.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269306.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 11.01% | 5.90% | 5.01% |
| Fund Market | 10.59 | 5.95 | 5.01 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI Pacific IMI | 11.30 | 5.83 | 4.93 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2032570359 |
| Number of Portfolio Holdings | &nbsp;&nbsp;1459 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1657847 |
| Portfolio Turnover Rate | &nbsp;&nbsp;5% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total <br>Investments<sup>(a)</sup>* |
| Financials | 20.6% |
| Industrials | 19.0% |
| Consumer Discretionary | 14.0% |
| Information Technology | 10.5% |
| Materials | 8.1% |
| Health Care | 7.5% |
| Real Estate | 5.8% |
| Communication Services | 5.5% |
| Consumer Staples | 5.3% |
| Utilities | 2.0% |
| Energy | 1.7% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total <br>Investments<sup>(a)</sup>* |
| Japan | 69.2% |
| Australia | 21.2% |
| Hong Kong | 4.7% |
| Singapore | 4.2% |
| New Zealand | 0.7% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Core MSCI Pacific ETF

Annual Shareholder Report — July 31, 2024

IPAC-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Core MSCI Total International Stock ETF

### IXUS \| NASDAQ

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Core MSCI Total International Stock ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Core MSCI Total International Stock ETF | $7 | 0.07% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. The information technology sector led markets amid enthusiasm over artificial intelligence ("AI"). 

* Amid challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June. However, the Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise about 16% of the Fund on average, meaningfully contributed to the Fund's return during the reporting period. Financials stocks benefited from resilient economic growth, corporate structural reforms, and a return to monetary policy normalization. Additionally, the industrials sector was supported by a weaker yen, higher exports, and increased demand for factory construction and large-scale redevelopment projects. In Taiwan, equities, particularly semiconductor manufacturers, benefited from excitement over increased AI demand. These companies provide the backbone for the complex calculations required for AI algorithms.

What detracted from performance?

Detractors from the Fund's return during the reporting period were driven by Chinese stocks as the country continued to face economic weakness. Chinese automobile manufacturers faced challenges from increasing import tariffs from the United States and the European Union. Amid slowing retail sales, broadline retailers, those that offer a wide range of consumer discretionary merchandise to end consumers, also hindered performance.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269377.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 9.84% | 6.49% | 4.43% |
| Fund Market | 9.68 | 6.64 | 4.46 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI ACWI ex USA IMI | 9.78 | 6.39 | 4.29 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$37872500211 |
| Number of Portfolio Holdings | &nbsp;&nbsp;4430 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$23755273 |
| Portfolio Turnover Rate | &nbsp;&nbsp;3% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 20.6% |
| Industrials | 14.9% |
| Information Technology | 13.2% |
| Consumer Discretionary | 11.0% |
| Health Care | 9.3% |
| Materials | 7.6% |
| Consumer Staples | 7.2% |
| Energy | 5.2% |
| Communication Services | 5.0% |
| Utilities | 3.2% |
| Real Estate | 2.8% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 15.9% |
| United Kingdom | 9.7% |
| Canada | 7.5% |
| France | 6.4% |
| China | 6.3% |
| India | 6.2% |
| Switzerland | 5.8% |
| Taiwan | 5.5% |
| Germany | 5.0% |
| Australia | 4.9% |
| Other<sup>#</sup> | 26.8% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Core MSCI Total International Stock ETF

Annual Shareholder Report — July 31, 2024

IXUS-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Currency Hedged MSCI ACWI ex U.S. ETF

### HAWX \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Currency Hedged MSCI ACWI ex U.S. ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Currency Hedged MSCI ACWI ex U.S. ETF | $3(a) | 0.03%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</sup>

#### How did the Fund perform last year?
* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period even as geopolitical strife and trade tensions increased. 

* Market strength was driven by enthusiasm for artificial intelligence, propelling information technology stocks to record highs. 

* While the European Central Bank cut its primary lending rate, the Bank of Japan increased interest rates. Japan's central bank also engaged in buying the Japanese yen in open markets to pause the currency's decline. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise approximately 15% of the Fund on average, contributed the most to the Fund's return during the reporting period. The country's stock market accelerated to new highs, helped by ongoing corporate reforms and the Bank of Japan ending its negative interest rate policy. This interest rate increase helped Japanese banks increase lending profits and net interest margins (the difference between interest revenue and interest expenses of a financial firm). Indian stocks contributed, helped by growing market confidence, an infrastructure boom, and positive economic data. In the industrials sector, automotive stocks benefited from record-high car sales.

What detracted from performance?

Detractors from the Fund's return during the reporting period were driven by Chinese stocks, which represent approximately 8% of the Fund on average. In particular, a push by several U.S. lawmakers to ban lithium-ion batteries for electric vehicles worked against these firms. In Hong Kong, casino stocks declined amid tightened regulations and deteriorating U.S.-China relations.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: June 29, 2015 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268992.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 14.62% | 9.37% | 7.62% |
| Fund Market | 14.45 | 9.36 | 7.61 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 5.10 |
| MSCI ACWI ex USA 100% Hedged to USD Index | 15.45 | 9.55 | 7.73 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$229557895 |
| Number of Portfolio Holdings | &nbsp;&nbsp;265 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$57791 |
| Portfolio Turnover Rate | &nbsp;&nbsp;9% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

The inception date of the Fund was June 29, 2015. The first day of secondary market trading was July 1, 2015.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Portfolio composition

---

| | |
|:---|:---|
| *Asset Type* | *Percent of* <br>*Net Assets* |
| Investment Companies | 100.1% |
| Short-term Investments | 44.8% |
| Forward foreign currency exchange contracts, net cumulative depreciation | (1.2) % |
| Other assets less liabilities | (43.7) % |

---

---

| | |
|:---|:---|
| **Sector allocation (of the underlying fund)<sup>(a)</sup>** | **Sector allocation (of the underlying fund)<sup>(a)</sup>** |
| *Sector* | *Percent of Total<br>Investments<sup>(b)</sup>* |
| Financials | 22.1% |
| Industrials | 13.8% |
| Information Technology | 13.5% |
| Consumer Discretionary | 10.9% |
| Health Care | 9.7% |
| Consumer Staples | 7.4% |
| Materials | 7.0% |
| Energy | 5.4% |
| Communication Services | 5.2% |
| Utilities | 3.2% |
| Real Estate | 1.8% |

---

<sup><sup>(a)</sup></sup> <sup>The underlying fund is iShares MSCI ACWI ex U.S. ETF.</sup> <br> <sup><sup>(b)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Currency Hedged MSCI ACWI ex U.S. ETF

Annual Shareholder Report — July 31, 2024

HAWX-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Currency Hedged MSCI EAFE ETF

### HEFA \| Cboe BZX Exchange

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Currency Hedged MSCI EAFE ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Currency Hedged MSCI EAFE ETF | $3(a) | 0.03%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</sup>

#### How did the Fund perform last year?
* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period even as geopolitical strife and trade tensions increased. 

* Driven by enthusiasm for artificial intelligence, information technology stocks propelled to record highs. 

* While the European Central Bank cut its primary lending rate, the Bank of Japan increased interest rates. Japan's central bank also engaged in buying the Japanese yen in open markets to pause the currency's decline. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise about 23% of the Fund on average, contributed the most to the Fund's return during the reporting period. Japan's stock market accelerated to new highs, helped by ongoing corporate reforms and the Bank of Japan ending its negative interest rate policy. This interest rate increase helped Japanese banks increase lending profits and net interest margins (the difference between interest revenue and interest expenses of a financial firm). In the United Kingdom, which comprises about 15% of the Fund on average, the financials sector was helped by solid lending income attributed to higher interest rates.

What detracted from performance?

Hong Kong stocks suffered from malaise related to economic weakness in China during the reporting period. As a special administrative region of China, many stocks are dual listed in Hong Kong and China and are more susceptible to China's recent economic slowdown and regulatory scrutiny. Hong Kong's financials sector was particularly impacted by slowing Chinese growth, while slumping property values hindered the real estate sector.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269364.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 16.81% | 11.22% | 9.08% |
| Fund Market | 16.88 | 11.21 | 9.09 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI EAFE<sup>®</sup> 100% Hedged to USD Index | 17.40 | 11.27 | 9.21 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$6660168214 |
| Number of Portfolio Holdings | &nbsp;&nbsp;160 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1359684 |
| Portfolio Turnover Rate | &nbsp;&nbsp;12% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Portfolio composition

---

| | |
|:---|:---|
| *Asset Type* | *Percent of* <br>*Net Assets* |
| Investment Companies | 100.1% |
| Short-term Investments | 21.8% |
| Forward foreign currency exchange contracts, net cumulative depreciation | (2.0) % |
| Other assets less liabilities | (19.9) % |

---

---

| | |
|:---|:---|
| **Sector allocation (of the underlying fund)<sup>(a)</sup>** | **Sector allocation (of the underlying fund)<sup>(a)</sup>** |
| *Sector* | *Percent of Total<br>Investments*<sup>(b)</sup>* |
| Financials | 20.4% |
| Industrials | 17.1% |
| Health Care | 13.7% |
| Consumer Discretionary | 11.1% |
| Information Technology | 9.1% |
| Consumer Staples | 8.6% |
| Materials | 6.6% |
| Communication Services | 4.1% |
| Energy | 4.0% |
| Utilities | 3.2% |
| Real Estate | 2.1% |

---

<sup><sup>(a)</sup></sup> <sup>The underlying fund is iShares MSCI EAFE ETF.</sup> <br> <sup><sup>(b)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Currency Hedged MSCI EAFE ETF

Annual Shareholder Report — July 31, 2024

HEFA-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Currency Hedged MSCI EAFE Small-Cap ETF

### HSCZ \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Currency Hedged MSCI EAFE Small-Cap ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Currency Hedged MSCI EAFE Small-Cap ETF | $3(a) | 0.03%(a) |

---

<sup><sup>(a)</sup></sup> <sup>Excludes fees and expenses incurred indirectly as a result of investments in underlying funds.</sup>

How did the Fund perform last year?

* While global equities rose for the reporting period, small-capitalization stocks underperformed their larger-capitalization peers due to increasing risk aversion and their vulnerability to high inflation, rising interest rates, a slowing economy, and the war in Ukraine. 

* In Europe, concerns grew over slowing economic growth and the European Central Bank cut its primary lending rate, a major turning point in monetary policy, as higher borrowing costs have negatively impacted both consumers and businesses. 

* Conversely, the Bank of Japan exited its zero-interest rate policy that it had held since 2016. 

What contributed to performance?

Japanese small-capitalization stocks led the Fund's return during the reporting period. Japanese stocks comprise approximately 34% of the Fund on average, and benefited from resilient economic growth, corporate structural reforms, and a return to monetary policy normalization. The industrials sector was helped by construction manufacturers on increased demand for factory construction and large-scale redevelopment projects. Regional banking stocks positively impacted the Fund's return following the Bank of Japan's gradual move away from negative interest rates. The United Kingdom comprises approximately 15% of the Fund on average, also contributed. Toward the end of the reporting period, news of the Labour Party's election win helped smaller-capitalization stocks, which rose on hopes of improved economic growth.

What detracted from performance?

Germany's industrials sector declined during the reporting period. Added to higher energy costs, the sector also felt the effects of geopolitical strife, with shipment delays stemming from both the Russia/Ukraine war and the crisis in the Middle East. In addition to cooling economic data, French small caps lagged due to political uncertainty spurred by a snap Parliamentary election.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: June 29, 2015 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268947.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 15.34% | 9.95% | 8.93% |
| Fund Market | 15.35 | 9.92 | 8.93 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 5.10 |
| MSCI EAFE Small Cap 100% Hedged to USD Index | 16.41 | 10.25 | 9.13 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$150905323 |
| Number of Portfolio Holdings | &nbsp;&nbsp;115 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$33777 |
| Portfolio Turnover Rate | &nbsp;&nbsp;12% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

The inception date of the Fund was June 29, 2015. The first day of secondary market trading was July 1, 2015.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Portfolio composition

---

| | |
|:---|:---|
| *Asset Type* | *Percent of* <br>*Net Assets* |
| Investment Companies | 100.2% |
| Short-term Investments | 0.0 %<sup>(a)</sup> |
| Forward foreign currency exchange contracts, net cumulative depreciation | (2.4) % |
| Other assets less liabilities | 2.2% |

---

---

| | |
|:---|:---|
| **Sector allocation (of the underlying fund)<sup>(b)</sup>** | **Sector allocation (of the underlying fund)<sup>(b)</sup>** |
| *Sector* | *Percent of Total <br>Investments*<sup>(c)</sup>* |
| Industrials | 23.3% |
| Financials | 12.8% |
| Consumer Discretionary | 12.6% |
| Real Estate | 10.7% |
| Information Technology | 9.4% |
| Materials | 9.2% |
| Consumer Staples | 6.4% |
| Health Care | 6.0% |
| Communication Services | 3.7% |
| Energy | 3.3% |
| Utilities | 2.6% |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>Rounds to less than 0.1%.</sup> |
| <sup><sup>(b)</sup></sup><sup>The underlying fund is iShares MSCI EAFE Small-Cap ETF.</sup> |
| <sup><sup>(c)</sup></sup><sup>Excludes money market funds.</sup> |

---

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Currency Hedged MSCI EAFE Small-Cap ETF

Annual Shareholder Report — July 31, 2024

HSCZ-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Cybersecurity and Tech ETF

### IHAK \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Cybersecurity and Tech ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Cybersecurity and Tech ETF | $51 | 0.47% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* U.S. stocks powered markets higher, driven by the enthusiasm for artificial intelligence ("AI"), which was particularly evident in the information technology sector. A handful of companies dominated markets due to their ability to rapidly innovate, capture significant market share, and generate substantial profits. 

* However, market sentiment swung late in the reporting period amid a shift away from information technology stocks as uncertainty surrounding economic growth, geopolitics, and the upcoming U.S. presidential election grew. Adding to the volatility was a technical outage stemming from a major cybersecurity supplier that impacted a wide variety of companies and prompted swift analyst downgrades of the company's stock, sending shares tumbling. 

What contributed to performance?

U.S. stocks, which represented approximately 72% of the Fund on average during the reporting period, contributed the most to the Fund's return. As more and more transactions are performed online, threats of financial fraud, unauthorized access, and identity theft have made cybersecurity essential. U.S. cybersecurity stocks that analyze threats and provide real-time protection gained due to the increased need for protection from cyber threats and unauthorized access to data and computer networks. Among U.S. industrials stocks, those that provide technology and services to support government transformation and national security missions benefited performance. Israeli systems software and solution providers also gained, as the country is a leader in technological innovation and spends a high percentage of its gross domestic product ("GDP") on research, development, and innovation.

What detracted from performance?

On the downside, Canadian stocks detracted from the Fund's return during the reporting period. Falling revenue due to increased competition weighed heavily on the stock of a software provider.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: June 11, 2019 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268761.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 18.73% | 12.41% | 13.45% |
| Fund Market | 18.58 | 12.39 | 13.43 |
| MSCI All Country World Index | 17.02 | 11.05 | 11.22 |
| NYSE<sup>®</sup> FactSet<sup>®</sup> Global Cyber Security Index | 17.21 | 12.43 | 13.50 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$863631323 |
| Number of Portfolio Holdings | &nbsp;&nbsp;37 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$3445852 |
| Portfolio Turnover Rate | &nbsp;&nbsp;27% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

The inception date of the Fund was June 11, 2019. The first day of secondary market trading was June 13, 2019.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Industry allocation

---

| | |
|:---|:---|
| *Industry* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Software | 65.4% |
| Professional Services | 13.2% |
| IT Services | 10.9% |
| Communications Equipment | 10.5% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 70.6% |
| Israel | 9.4% |
| Japan | 4.8% |
| Taiwan | 3.6% |
| United Kingdom | 3.4% |
| Denmark | 2.2% |
| Germany | 2.2% |
| Canada | 1.7% |
| Malaysia | 1.2% |
| Turkey | 0.6% |
| South Korea | 0.3% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc., NYSE Group, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Cybersecurity and Tech ETF

Annual Shareholder Report — July 31, 2024

IHAK-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Energy Storage & Materials ETF

### IBAT \| NASDAQ

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Energy Storage & Materials ETF (the "Fund") for the period of March 19, 2024 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Energy Storage & Materials ETF | $17(a) | 0.47%(b) |

---

---

| |
|:---|
| <sup><sup>(a)</sup></sup><sup>The Fund commenced operations during the reporting period. Expenses for a full reporting period would be higher than the amount shown.</sup> |
| <sup><sup>(b)</sup></sup><sup>Annualized.</sup> |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$6718832 |
| Number of Portfolio Holdings | &nbsp;&nbsp;62 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$14880 |
| Portfolio Turnover Rate | &nbsp;&nbsp;40% |

---

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Materials | 44.2% |
| Industrials | 31.7% |
| Information Technology | 21.4% |
| Consumer Discretionary | 2.7% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 27.4% |
| United States | 26.2% |
| South Korea | 18.0% |
| France | 9.7% |
| Germany | 6.1% |
| China | 5.6% |
| Switzerland | 3.0% |
| Taiwan | 2.6% |
| Norway | 0.5% |
| Canada | 0.3% |
| Other<sup>#</sup> | 0.6% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Energy Storage & Materials ETF

Annual Shareholder Report — July 31, 2024

IBAT-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Exponential Technologies ETF

### XT \| NASDAQ

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Exponential Technologies ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Exponential Technologies ETF | $46 | 0.46% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* U.S. stocks powered markets higher, driven by the enthusiasm for artificial intelligence ("AI"), which was particularly evident in the information technology sector. 

* However, market sentiment swung late in the one-year period amid a shift away from information technology stocks and growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

U.S. stocks, which represented approximately 62% of the Fund on average during the reporting period, contributed the most to the Fund's return. Within the information technology sector, semiconductor manufacturers that enable the rapid advancement in technology and the creation of compact, powerful, and efficient devices advanced. Also contributing were software application companies that provide platforms and solutions to manage data analytics, supply chains, and inventory operations. Information technology stocks in Taiwan also contributed to the Fund's returns, amid a growing need for semiconductors and passive components.

What detracted from performance?

Stocks in China's information technology sector were the largest detractors of the Fund's performance during the reporting period. Electric vehicle makers declined amid decreasing profitability and geopolitical tensions, including increased tariffs from the United States, European Union, and Latin America. Canadian stocks were hindered by the recent weak performance of lithium, a key ingredient in rechargeable batteries for phones, hybrid cars, electric bikes, and large-scale storage batteries. The fall in lithium prices was due to slowing demand for electric vehicles and a broader economic slowdown in China.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: March 19, 2015 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269178.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 1.84% | 9.66% | 10.60% |
| Fund Market | 1.79 | 9.71 | 10.59 |
| MSCI All Country World Index | 17.02 | 11.05 | 9.14 |
| Morningstar<sup>®</sup> Exponential Technologies Index<sup>℠</sup> | 2.03 | 10.04 | 10.92 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$3420686935 |
| Number of Portfolio Holdings | &nbsp;&nbsp;191 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$15200280 |
| Portfolio Turnover Rate | &nbsp;&nbsp;45% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

The inception date of the Fund was March 19, 2015. The first day of secondary market trading was March 23, 2015.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Information Technology | 58.1% |
| Health Care | 16.8% |
| Financials | 5.8% |
| Utilities | 5.2% |
| Industrials | 4.7% |
| Consumer Discretionary | 4.0% |
| Communication Services | 2.4% |
| Materials | 1.8% |
| Real Estate | 0.9% |
| Consumer Staples | 0.3% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 59.8% |
| Japan | 6.2% |
| China | 5.0% |
| Taiwan | 3.4% |
| Germany | 3.1% |
| United Kingdom | 2.4% |
| France | 2.4% |
| Canada | 2.3% |
| Netherlands | 2.3% |
| South Korea | 1.6% |
| Other<sup>#</sup> | 11.5% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc., Morningstar, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Exponential Technologies ETF

Annual Shareholder Report — July 31, 2024

XT-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Future Cloud 5G and Tech ETF

### IDAT \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Future Cloud 5G and Tech ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Future Cloud 5G and Tech ETF | $52 | 0.47% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* U.S. stocks powered markets higher, driven by the enthusiasm for artificial intelligence ("AI"), which was particularly evident in the information technology sector. A handful of companies dominated markets due to their ability to rapidly innovate, capture significant market share, and generate substantial profits. 

* However, market sentiment swung late in the one-year period amid a shift away from information technology stocks and growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

U.S. stocks, which represented approximately 77% of the Fund on average during the reporting period, contributed the most to the Funds's return, led by information technology stocks. Increased usage and demand for AI reverberated across the information technology sector. Semiconductor manufacturers benefited, as they provide the backbone for the complex calculations required for AI algorithms. Among technology hardware stocks, firms that provide data-driven networking solutions, particularly in data centers and cloud environments, also benefited from the increased AI usage. Memory solution providers also gained, given the substantial requirements needed to run generative AI applications. Outside of the United States, semiconductor firms in Taiwan also advanced on strong demand for the chips that are needed for mobile phones.

What detracted from performance?

There were only minimal detractors to the Fund's performance during the reporting period. Several application software and systems software stocks declined as they faced increased competition, lower-than-expected revenue, and reduced future guidance.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: June 8, 2021 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268678.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br>Inception* |
| Fund NAV | 21.04% | 7.49% |
| Fund Market | 20.96 | 7.41 |
| MSCI All Country World Index | 17.02 | 5.88 |
| Morningstar<sup>®</sup> Global Digital Infrastructure<br>& Connectivity Index<sup>℠</sup> | 21.23 | 7.56 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$7376700 |
| Number of Portfolio Holdings | &nbsp;&nbsp;49 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$30826 |
| Portfolio Turnover Rate | &nbsp;&nbsp;37% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

The inception date of the Fund was June 8, 2021. The first day of secondary market trading was June 10, 2021.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Industry allocation

---

| | |
|:---|:---|
| *Industry* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Semiconductors & Semiconductor Equipment | 35.0% |
| Communications Equipment | 15.3% |
| Technology Hardware, Storage & Peripherals | 11.8% |
| Software | 9.8% |
| IT Services | 9.0% |
| Specialized REITs | 6.1% |
| Diversified Telecommunication Services | 5.6% |
| Electronic Equipment, Instruments & Components | 4.9% |
| Chemicals | 2.5% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 77.3% |
| Taiwan | 4.3% |
| Japan | 3.7% |
| Finland | 2.8% |
| Sweden | 2.6% |
| China | 2.3% |
| Spain | 1.9% |
| Germany | 1.9% |
| Australia | 1.3% |
| Italy | 1.3% |
| Singapore | 0.6% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Material Fund Changes
This is a summary of certain changes to the Fund since July 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after July 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

On June 26, 2024, the Fund changed from non-diversified to diversified under the Investment Company Act of 1940 and removed the Non-Diversification Risk.

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc., Morningstar, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Future Cloud 5G and Tech ETF

Annual Shareholder Report — July 31, 2024

IDAT-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Genomics Immunology and Healthcare ETF

### IDNA \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Genomics Immunology and Healthcare ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Genomics Immunology and Healthcare ETF | $49 | 0.48% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* The U.S. Federal Reserve Bank left rates on hold during the reporting period as the central bank sought greater confidence in slowing inflationary pressures. As inflation measures became more subdued, expectations increased for interest rate cuts in 2024. 

* However, market sentiment swung late in the one-year period amid a shift away from information technology stocks and growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

What detracted from performance?

A specialty chemical company within the materials sector in the United States was a large detractor from the Fund's performance during the reporting period. The firm faced decreasing revenue following the expected ramp down of COVID-19 testing for U.S. students. In Germany, stocks of biotechnology companies declined amid a shift away from COVID-19 treatments and court proceedings over intellectual property rights.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: June 11, 2019 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268748.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 4.98% | (1.34) % | 1.05% |
| Fund Market | 4.70 | (1.39) | 1.01 |
| MSCI All Country World Index | 17.02 | 11.05 | 11.22 |
| NYSE<sup>®</sup> FactSet<sup>®</sup> Global Genomics and Immuno Biopharma Index | 5.01 | (1.17) | 1.18 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$140404921 |
| Number of Portfolio Holdings | &nbsp;&nbsp;52 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$616871 |
| Portfolio Turnover Rate | &nbsp;&nbsp;51% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

The inception date of the Fund was June 11, 2019. The first day of secondary market trading was June 13, 2019.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Industry allocation

---

| | |
|:---|:---|
| *Industry* | &nbsp;&nbsp;*Percent of Total <br>Investments<sup>(a)</sup>* |
| Biotechnology | 74.6% |
| Pharmaceuticals | 23.6% |
| Life Sciences Tools & Services | 1.2% |
| Chemicals | 0.6% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 67.5% |
| Japan | 5.5% |
| Switzerland | 4.7% |
| France | 4.5% |
| China | 4.1% |
| Denmark | 4.0% |
| United Kingdom | 3.7% |
| Germany | 3.4% |
| South Korea | 1.1% |
| Netherlands | 0.8% |
| Canada | 0.7% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc., NYSE Group, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Genomics Immunology and Healthcare ETF

Annual Shareholder Report — July 31, 2024

IDNA-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Global Equity Factor ETF

### GLOF \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Global Equity Factor ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Global Equity Factor ETF | $22 | 0.20% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* With challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June, while the U.S. Federal Reserve Bank left interest rates unchanged. However, the Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* However, market sentiment swung late in the period amid a shift away from technology stocks and growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Stocks from the United States, which represent about 59% of the Fund on average, strongly contributed to the Fund's performance during the reporting period. Among U.S. stocks, the information technology sector contributed the most, as the hype over artificial intelligence ("AI") continued to benefit information technology companies. The U.S. semiconductor industry contributed significantly, as the technology is crucial to the ongoing buildout of AI, and expanded tariffs limited semiconductor imports from outside the U.S. In Japan, industrial stocks contributed to the Fund's return, as several strategic agreements involving Japanese machinery companies were initiated during the reporting period.

What detracted from performance?

Stocks from Germany detracted from the Fund's return during the reporting period. Weakness in the consumer discretionary sector stemmed from sluggish demand and production declines negatively affecting German carmakers.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: April 28, 2015 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269133.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 19.96% | 10.46% | 8.11% |
| Fund Market | 20.12 | 10.52 | 8.09 |
| S&P Global Broad Market Index | 16.20 | 10.50 | 8.42 |
| STOXX Global Equity Factor Index | 20.07 | 10.60 | 8.29 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$109479538 |
| Number of Portfolio Holdings | &nbsp;&nbsp;607 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$238754 |
| Portfolio Turnover Rate | &nbsp;&nbsp;24% |

---

The Fund has added the S&P Global Broad Market Index in response to new regulatory requirements.

The inception date of the Fund was April 28, 2015. The first day of secondary market trading was April 30, 2015.

The performance of the STOXX Global Equity Factor Index in this report reflects the performance of the MSCI ACWI Diversified Multiple-Factor Index through February 28, 2023 and, beginning on March 1, 2023, the performance of the STOXX Global Equity Factor Index.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Information Technology | 27.0% |
| Financials | 15.5% |
| Consumer Discretionary | 12.5% |
| Health Care | 10.9% |
| Industrials | 8.4% |
| Consumer Staples | 7.0% |
| Communication Services | 6.5% |
| Energy | 3.8% |
| Materials | 3.7% |
| Utilities | 3.2% |
| Real Estate | 1.5% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 60.3% |
| Japan | 6.8% |
| United Kingdom | 3.1% |
| South Korea | 2.8% |
| China | 2.5% |
| Canada | 2.4% |
| France | 2.2% |
| Australia | 1.9% |
| Taiwan | 1.9% |
| India | 1.7% |
| Other<sup>#</sup> | 14.4% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Material Fund Changes
This is a summary of certain changes to the Fund since July 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after July 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

The net expense ratio decreased from the prior fiscal year end primarily due to a change in the Fund's investment advisory agreement during the prior fiscal year.

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by S&P Dow Jones Indices, STOXX Ltd., MSCI, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Global Equity Factor ETF

Annual Shareholder Report — July 31, 2024

GLOF-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares International Equity Factor ETF

### INTF \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares International Equity Factor ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares International Equity Factor ETF | $17 | 0.16% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. U.S. equities led markets, propelled by the information technology sector and enthusiasm over artificial intelligence. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Stocks with exposure to value advanced for the reporting period, as the current geopolitical and economic landscape has moved global risk appetites lower, accelerating the rotation from cyclicals stocks into defensive/growth compounders with our cyclicals versus defensive pair down. Momentum and quality also contributed to performance.

Stocks in Japan's financial sector contributed the most to the Fund's return during the reporting period, benefiting from steady gains and rising dividend payments over the last year. Japanese insurance companies also contributed to performance, after several companies announced stock buybacks. In Denmark, stocks within the apparel accessories and luxury goods segment of the consumer discretionary sector contributed to performance.

What detracted from performance?

Hong Kong stocks suffered from malaise related to economic weakness in China during the reporting period. As a special administrative region of China, many stocks are dual listed in Hong Kong and China and are more susceptible to China's recent economic slowdown and regulatory scrutiny. Hong Kong's financials sector was particularly impacted by slowing Chinese growth, while slumping property values hindered the real estate sector.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: April 28, 2015 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269120.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 13.08% | 6.96% | 5.21% |
| Fund Market | 13.04 | 7.08 | 5.20 |
| S&P Developed ex US Broad Market Index | 10.38 | 7.12 | 4.92 |
| STOXX International Equity Factor Index | 12.62 | 6.93 | 5.25 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1124337890 |
| Number of Portfolio Holdings | &nbsp;&nbsp;449 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1499809 |
| Portfolio Turnover Rate | &nbsp;&nbsp;22% |

---

The Fund has added the S&P Developed ex US Broad Market Index in response to new regulatory requirements.

The inception date of the Fund was April 28, 2015. The first day of secondary market trading was April 30, 2015.

The performance of the STOXX International Equity Factor Index in this report reflects the performance of the MSCI World ex USA Diversified Multiple-Factor Index through May 31, 2022 and, beginning on June 1, 2022, the performance of the STOXX International Equity Factor Index.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 21.9% |
| Industrials | 16.3% |
| Consumer Discretionary | 13.0% |
| Health Care | 9.9% |
| Information Technology | 8.8% |
| Consumer Staples | 7.9% |
| Materials | 6.4% |
| Energy | 4.8% |
| Communication Services | 4.4% |
| Utilities | 4.2% |
| Real Estate | 2.4% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 24.9% |
| United Kingdom | 13.0% |
| France | 8.7% |
| Switzerland | 8.1% |
| Australia | 7.2% |
| Germany | 6.0% |
| Canada | 5.9% |
| Netherlands | 4.7% |
| Denmark | 3.8% |
| Italy | 3.8% |
| Other<sup>#</sup> | 13.9% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by S&P Dow Jones Indices, STOXX Ltd., MSCI, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares International Equity Factor ETF

Annual Shareholder Report — July 31, 2024

INTF-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares International Small-Cap Equity Factor ETF

### ISCF \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares International Small-Cap Equity Factor ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares International Small-Cap Equity Factor ETF | $24 | 0.23% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* Higher interest rates have worked against smaller-capitalization names, causing them to underperform their larger peers. 

* However, market sentiment swung late in the period amid a shift away from technology stocks and growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Stocks with exposure to value advanced for the reporting period, as the current geopolitical and economic landscape has moved global risk appetites lower, accelerating the rotation from cyclicals stocks into defensive/growth compounders with our cyclicals versus defensive pair down. Momentum also contributed to performance.

Japanese small-capitalization stocks led the Fund's return during the reporting period. Japanese stocks, which comprise approximately 25% of the Fund on average, have benefited from resilient economic growth, corporate structural reforms, and a return to monetary policy normalization. The industrials sector was helped by construction manufacturers on increased demand for factory construction and large-scale redevelopment projects. In the United Kingdom, which comprises about 14% of the Fund on average, the financials sector was helped by solid lending income attributed to higher interest rates.

What detracted from performance?

Stocks in Germany detracted from the Fund's performance during the reporting period, most notably within the materials sector. Hong Kong stocks were negatively impacted by economic weakness in China during the reporting period.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: April 28, 2015 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269063.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 9.57% | 6.63% | 6.26% |
| Fund Market | 9.19 | 6.70 | 6.22 |
| S&P Developed ex US Broad Market Index | 10.38 | 7.12 | 4.92 |
| STOXX International Small-Cap Equity Factor Index | 9.18 | 6.83 | 6.46 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | $556867486 |
| Number of Portfolio Holdings | 971 |
| Net Investment Advisory Fees | $1265111 |
| Portfolio Turnover Rate | &nbsp;&nbsp;26% |

---

The Fund has added the S&P Developed ex US Broad Market Index in response to new regulatory requirements.

The inception date of the Fund was April 28, 2015. The first day of secondary market trading was April 30, 2015.

The performance of the STOXX International Small-Cap Equity Factor Index in this report reflects the performance of the MSCI World ex USA Small Cap Diversified Multiple-Factor Index through February 28, 2023 and, beginning on March 1, 2023, the performance of the STOXX International Small-Cap Equity Factor Index.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Industrials | 19.7% |
| Consumer Discretionary | 14.5% |
| Financials | 14.1% |
| Information Technology | 11.6% |
| Materials | 10.1% |
| Real Estate | 9.8% |
| Health Care | 4.6% |
| Consumer Staples | 4.3% |
| Energy | 4.2% |
| Communication Services | 3.8% |
| Utilities | 3.3% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 26.2% |
| United Kingdom | 15.6% |
| Canada | 9.9% |
| Australia | 7.0% |
| Switzerland | 6.3% |
| France | 5.1% |
| Germany | 4.8% |
| Sweden | 4.0% |
| Italy | 3.3% |
| Spain | 2.8% |
| Other<sup>#</sup> | 15.0% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Material Fund Changes
This is a summary of certain changes to the Fund since July 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after July 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

The net expense ratio decreased from the prior fiscal year end primarily due to a change in the Fund's investment advisory agreement during the prior fiscal year.

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by S&P Dow Jones Indices, STOXX Ltd., MSCI, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares International Small-Cap Equity Factor ETF

Annual Shareholder Report — July 31, 2024

ISCF-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI ACWI ETF

### ACWI \| NASDAQ

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI ACWI ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI ACWI ETF | $35 | 0.32% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. U.S. equities led markets, propelled by the information technology sector and enthusiasm over artificial intelligence ("AI"). 

* Amid challenging economic conditions, the European Central Bank cut its primary lending rate in June, while the U.S. Federal Reserve Bank left interest rates unchanged. The Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

The United States is the largest component of the Fund, comprising approximately 63% on average during the reporting period, and was also the most significant driver of the Fund's return. Performance was largely driven by a handful of dominant information technology companies that have been able to rapidly innovate, capture significant market share, and generate substantial profits. Among these stocks, those that produce semiconductors were the most significant beneficiaries of excitement for AI and the U.S. government's efforts to increase domestic chipmaking capacity. The financials sector was helped by solid earnings results from wealth management firms.

What detracted from performance?

Chinese stocks were modest detractors from the Fund's performance during the reporting period. The country's economic struggles continued, and equities have been negatively impacted by overall weak domestic demand. Electric vehicle manufacturers were notably weak as tariffs were increased by the United States and the European Union.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269563.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 17.06% | 11.08% | 8.89% |
| Fund Market | 16.91 | 11.14 | 8.91 |
| MSCI All Country World Index | 17.02 | 11.05 | 8.74 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$18219793036 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2364 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$58548495 |
| Portfolio Turnover Rate | &nbsp;&nbsp;4% |

---

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Information Technology | 25.0% |
| Financials | 16.1% |
| Health Care | 11.0% |
| Industrials | 10.6% |
| Consumer Discretionary | 10.3% |
| Communication Services | 7.6% |
| Consumer Staples | 6.3% |
| Energy | 4.4% |
| Materials | 4.0% |
| Utilities | 2.6% |
| Real Estate | 2.1% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 64.3% |
| Japan | 5.3% |
| United Kingdom | 3.4% |
| Canada | 2.7% |
| France | 2.5% |
| China | 2.5% |
| Switzerland | 2.2% |
| India | 2.0% |
| Germany | 2.0% |
| Taiwan | 1.9% |
| Other<sup>#</sup> | 11.2% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI ACWI ETF

Annual Shareholder Report — July 31, 2024

ACWI-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI ACWI ex U.S. ETF

### ACWX \| NASDAQ

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI ACWI ex U.S. ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI ACWI ex U.S. ETF | $34 | 0.32% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* The European Central Bank cut its primary lending rate by 0.25% in June while the Bank of Japan exited its zero-interest rate policy that it had held since 2016, raising its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise about 15% of the Fund on average, contributed the most to the Fund's return during the reporting period. The country's stock market accelerated to new highs during the reporting period, helped by ongoing corporate reforms and the Bank of Japan ending its negative interest rate policy. This interest rate increase helped Japanese banks increase lending profits and net interest margins (the difference between interest revenue and interest expenses of a financial firm). Indian stocks contributed, helped by growing market confidence, an infrastructure boom, and positive economic data. In the industrials sector, automotive stocks benefited from record-high car sales.

What detracted from performance?

Detractors from the Fund's return during the reporting period were driven by Chinese stocks, which represent approximately 8% of the Fund on average. In particular, a push by several U.S. lawmakers to ban lithium-ion batteries for electric vehicles worked against these firms. In Hong Kong, casino stocks declined amid tightened regulations and deteriorating U.S.-China relations.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269550.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 9.50% | 6.11% | 4.07% |
| Fund Market | 9.24 | 6.22 | 4.09 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$4566392285 |
| Number of Portfolio Holdings | &nbsp;&nbsp;1818 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$14293669 |
| Portfolio Turnover Rate | &nbsp;&nbsp;6% |

---

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 22.1% |
| Industrials | 13.8% |
| Information Technology | 13.5% |
| Consumer Discretionary | 10.9% |
| Health Care | 9.7% |
| Consumer Staples | 7.4% |
| Materials | 7.0% |
| Energy | 5.4% |
| Communication Services | 5.2% |
| Utilities | 3.2% |
| Real Estate | 1.8% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 14.9% |
| United Kingdom | 9.7% |
| Canada | 7.6% |
| France | 7.1% |
| China | 6.9% |
| Switzerland | 6.3% |
| India | 5.7% |
| Germany | 5.5% |
| Taiwan | 5.3% |
| Australia | 4.8% |
| Other<sup>#</sup> | 26.2% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI ACWI ex U.S. ETF

Annual Shareholder Report — July 31, 2024

ACWX-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI ACWI Low Carbon Target ETF

### CRBN \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI ACWI Low Carbon Target ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI ACWI Low Carbon Target ETF | $22 | 0.20% |

---

#### How did the Fund perform last year?
* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* Global carbon dioxide emissions reached a record high in 2023 due to continuing usage of fossil fuels, a return to pre-pandemic travel and transportation levels, and Canada's extreme wildfire season. However, despite this rise, emissions are seeing a structural slowdown. 

* Versus growth in advanced economies, emissions declined in 2023 helped by strong renewables deployment, a growing trend of switching from coal to gas in the United States, milder weather, and weaker industrial production in some countries. 

* The 2023 United Nations Conference on Climate Change called on governments to speed up the transition away from fossil fuels to renewables in their next round of climate commitments. 

What contributed to performance?

The United States is the largest component of the Fund comprising approximately 62% on average during the reporting period and was also the most significant driver of the Fund's return. A handful of dominant information technology companies that have been able to innovate rapidly captured significant market share and generated substantial profits-dominated returns. The financials sector was helped by solid earnings results.

What detracted from performance?

Stocks in China were a modest detractor from the Fund's performance during the reporting period. In the consumer discretionary sector, automotive stocks declined as they faced increased tariffs from the United States and the European Union. Shares of interactive media firms declined on falling revenue growth.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: December 8, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269249.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 17.91% | 11.25% | 9.30% |
| Fund Market | 17.78 | 11.22 | 9.28 |
| MSCI All Country World Index | 17.02 | 11.05 | 9.04 |
| MSCI ACWI Low Carbon Target Index | 17.68 | 11.07 | 9.04 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$962749416 |
| Number of Portfolio Holdings | &nbsp;&nbsp;1069 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1783718 |
| Portfolio Turnover Rate | &nbsp;&nbsp;24% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

The inception date of the Fund was December 8, 2014. The first day of secondary market trading was December 9, 2014.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Information Technology | 25.2% |
| Financials | 18.0% |
| Health Care | 11.3% |
| Industrials | 10.3% |
| Consumer Discretionary | 9.7% |
| Communication Services | 8.6% |
| Consumer Staples | 5.9% |
| Energy | 3.0% |
| Real Estate | 2.9% |
| Materials | 2.6% |
| Utilities | 2.5% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 63.6% |
| Japan | 5.5% |
| Canada | 3.3% |
| United Kingdom | 3.1% |
| China | 2.9% |
| France | 2.2% |
| Switzerland | 2.0% |
| India | 2.0% |
| Taiwan | 2.0% |
| Australia | 1.6% |
| Other<sup>#</sup> | 11.8% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI ACWI Low Carbon Target ETF

Annual Shareholder Report — July 31, 2024

CRBN-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI All Country Asia ex Japan ETF

### AAXJ \| NASDAQ

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI All Country Asia ex Japan ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI All Country Asia ex Japan ETF | $73 | 0.71% |

---

How did the Fund perform last year?

* Asian equities rose during the reporting period but underperformed the broader markets amid weakening growth in China and a stronger U.S. dollar. 

* In China, weak economic growth led to substantial government stimulus packages intended to boost retail spending and consumer confidence. 

* The reelection of Indian Prime Minister Narendra Modi and the formation of a coalition government helped dispel market concerns over the direction of equity reforms in the country. 

What contributed to performance?

Optimism over economic growth, increased liquidity, and solid corporate earnings helped Indian equities contribute to the Fund's return during the reporting period. Automotive stocks gained on solid sales data and positive market sentiment. Given that automakers are interest-rate sensitive and higher rates increase car loan costs, these stocks gained on hopes the Reserve Bank of India had finished raising rates. India's industrials sector rose amid a spending push on infrastructure. Information technology stocks in Taiwan, particularly semiconductor manufacturers, benefited from excitement over increased demand for artificial intelligence ("AI"). These companies provide the backbone for the complex calculations required for AI algorithms.

What detracted from performance?

Stocks in China modestly detracted from the Fund's performance during the reporting period, with the country comprising about 31% of the Fund on average. China's economic struggles continued as trade wars and tariffs from the United States and the European Union weighed on the performance of several industries, including automobiles and broadline retail companies. Given Hong Kong's status as a special administrative region of China, stocks were more susceptible to China's economic slowdown and regulatory scrutiny. In particular, slumping property values hindered Hong Kong's real estate sector.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269505.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 4.60% | 2.92% | 2.97% |
| Fund Market | 4.63 | 3.11 | 3.05 |
| MSCI Emerging Markets Index | 6.27 | 3.41 | 2.63 |
| MSCI AC Asia ex Japan Index | 6.24 | 3.85 | 3.77 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2358375781 |
| Number of Portfolio Holdings | &nbsp;&nbsp;995 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$17172158 |
| Portfolio Turnover Rate | &nbsp;&nbsp;11% |

---

The Fund has added the MSCI Emerging Markets Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Information Technology | 28.1% |
| Financials | 20.4% |
| Consumer Discretionary | 13.1% |
| Communication Services | 9.3% |
| Industrials | 7.7% |
| Materials | 4.6% |
| Consumer Staples | 4.2% |
| Energy | 3.9% |
| Health Care | 3.5% |
| Utilities | 3.0% |
| Real Estate | 2.2% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| China | 27.9% |
| India | 22.9% |
| Taiwan | 21.5% |
| South Korea | 14.0% |
| Hong Kong | 4.5% |
| Singapore | 3.5% |
| Indonesia | 1.9% |
| Malaysia | 1.6% |
| Thailand | 1.6% |
| Philippines | 0.6% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI All Country Asia ex Japan ETF

Annual Shareholder Report — July 31, 2024

AAXJ-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI China A ETF

### CNYA \| Cboe BZX Exchange

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI China A ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI China A ETF | $41 | 0.44% |

---

How did the Fund perform last year?

* Emerging market equities rose during the reporting period but underperformed the broader markets as geopolitical uncertainty and a stronger U.S. dollar weighed on performance. 

* China's economic struggles continued, with the housing sector facing particular challenges due to a major property company defaulting and falling home prices. Overall weak domestic demand has led to substantial stimulus packages by the Chinese government in an attempt to boost retail spending and consumer confidence. 

* These major policy interventions enacted by the Chinese government helped to ease investor concerns, but equities still underperformed the broader markets during the period. 

What contributed to performance?

Stocks in China's burgeoning renewable energy sector modestly contributed to the Fund's return during the reporting period. Firms that supply hydropower generation helped to boost clean energy generation amid recent heavy deluges in several provinces.

What detracted from performance?

Domestic Chinese equities declined during the reporting period, pulled down by weak domestic economic growth and increasing regulatory actions from the Chinese government. Consumer staples stocks were among the largest detractors from the Fund's return, hindered by food, beverage, and tobacco companies. Notably, decreasing consumer spending impacted premier alcoholic beverage stocks, which declined during the reporting period. In the information technology sector, semiconductor companies were negatively affected by threats of more trade sanctions and tariffs against China from the United States and other countries. Among stocks in the consumer discretionary sector, a push by several U.S. lawmakers to ban lithium-ion batteries for electric vehicles worked against these stocks.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: June 13, 2016 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268934.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | (14.19) % | (0.20) % | 2.84% |
| Fund Market | (14.20) | (0.02) | 2.80 |
| MSCI Emerging Markets Index | 6.27 | 3.41 | 6.27 |
| MSCI China A Inclusion Index | (13.77) | 0.11 | 2.23 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$268939018 |
| Number of Portfolio Holdings | &nbsp;&nbsp;488 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1071016 |
| Portfolio Turnover Rate | &nbsp;&nbsp;73% |

---

The Fund has added the MSCI Emerging Markets Index in response to new regulatory requirements.

The inception date of the Fund was June 13, 2016. The first day of secondary market trading was June 15, 2016.

The performance of the MSCI China A Inclusion Index in this report reflects the performance of the MSCI China A International Index through April 25, 2018 and, beginning on April 26, 2018, the performance of the MSCI China A Inclusion Index.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 20.5% |
| Industrials | 15.4% |
| Information Technology | 14.9% |
| Consumer Staples | 12.2% |
| Materials | 10.9% |
| Consumer Discretionary | 7.2% |
| Health Care | 7.0% |
| Utilities | 5.3% |
| Energy | 4.0% |
| Communication Services | 1.5% |
| Real Estate | 1.1% |

---

Ten largest holdings

---

| | |
|:---|:---|
| *Security* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Kweichow Moutai Co. Ltd., Class A | 5.0% |
| Contemporary Amperex Technology Co. Ltd., Class A | 2.3% |
| China Yangtze Power Co. Ltd., Class A | 2.1% |
| China Merchants Bank Co. Ltd., Class A | 1.9% |
| Wuliangye Yibin Co. Ltd., Class A | 1.4% |
| Ping An Insurance Group Co. of China Ltd., Class A | 1.3% |
| BYD Co. Ltd., Class A | 1.3% |
| Agricultural Bank of China Ltd., Class A | 1.1% |
| Industrial & Commercial Bank of China Ltd., Class A | 1.0% |
| Industrial Bank Co. Ltd., Class A | 1.0% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Material Fund Changes
This is a summary of certain changes to the Fund since July 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after July 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

The net expense ratio increased from the prior fiscal year end primarily due to the elimination of a voluntary fee waiver during the prior fiscal year.

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI China A ETF

Annual Shareholder Report — July 31, 2024

CNYA-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI EAFE ETF

### EFA \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI EAFE ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI EAFE ETF | $34 | 0.32% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* The European Central Bank cut its primary lending rate by 0.25% in June while the Bank of Japan exited its zero-interest rate policy that it had held since 2016, raising its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise about 23% of the Fund on average, contributed the most to the Fund's return during the reporting period. Japan's stock market accelerated to new highs during the reporting period, helped by ongoing corporate reforms and the Bank of Japan ending its negative interest rate policy. This interest rate increase helped Japanese banks increase lending profits and net interest margins (the difference between interest revenue and interest expenses of a financial firm). In the United Kingdom, which comprises about 15% of the Fund on average, the financials sector was helped by solid lending income attributed to higher interest rates.

What detracted from performance?

Hong Kong stocks suffered from malaise related to economic weakness in China during the reporting period. As a special administrative region of China, many stocks are dual listed in Hong Kong and China and are more susceptible to China's recent economic slowdown and regulatory scrutiny. Hong Kong's financials sector was particularly impacted by slowing Chinese growth, while slumping property values hindered the real estate sector.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269794.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 11.27% | 7.37% | 4.82% |
| Fund Market | 11.22 | 7.52 | 4.87 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI EAFE Index | 11.21 | 7.36 | 4.84 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$55764354994 |
| Number of Portfolio Holdings | &nbsp;&nbsp;749 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$161558287 |
| Portfolio Turnover Rate | &nbsp;&nbsp;3% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 20.4% |
| Industrials | 17.1% |
| Health Care | 13.7% |
| Consumer Discretionary | 11.1% |
| Information Technology | 9.1% |
| Consumer Staples | 8.6% |
| Materials | 6.6% |
| Communication Services | 4.1% |
| Energy | 4.0% |
| Utilities | 3.2% |
| Real Estate | 2.1% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 23.3% |
| United Kingdom | 15.1% |
| France | 11.2% |
| Switzerland | 9.9% |
| Germany | 8.6% |
| Australia | 7.4% |
| Netherlands | 5.0% |
| Denmark | 3.7% |
| Sweden | 3.2% |
| Italy | 2.7% |
| Other<sup>#</sup> | 9.9% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI EAFE ETF

Annual Shareholder Report — July 31, 2024

EFA-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI EAFE Growth ETF

### EFG \| Cboe BZX Exchange

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI EAFE Growth ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI EAFE Growth ETF | $38 | 0.36% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. The information technology sector led markets amid enthusiasm over artificial intelligence. 

* Amid challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June. However, the Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise about 22% of the Fund on average, contributed the most to the Fund's return during the reporting period. Japan's stock market accelerated to new highs, helped by ongoing corporate reforms and the Bank of Japan ending its negative interest rate policy. This interest rate increase helped Japanese banks increase lending profits and net interest margins (the difference between interest revenue and interest expenses of a financial firm). In Denmark, the healthcare sector contributed to the Fund's performance, as pharmaceutical and biotechnology stocks gained amid positive clinical trials and enthusiasm over GLP-1 weight loss drugs.

What detracted from performance?

Stocks in France, which comprise about 13% of the Fund on average, detracted the most from the Fund's return during the reporting period, most notably within the consumer discretionary sector as consumers continue to curb their spending on luxury goods. Additionally, Hong Kong stocks suffered from malaise related to economic weakness in China during the reporting period.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269736.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 8.66% | 6.60% | 5.55% |
| Fund Market | 8.69 | 6.75 | 5.62 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI EAFE Growth Index | 8.60 | 6.80 | 5.79 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$15204838131 |
| Number of Portfolio Holdings | &nbsp;&nbsp;375 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$41894443 |
| Portfolio Turnover Rate | &nbsp;&nbsp;22% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Industrials | 21.4% |
| Health Care | 18.6% |
| Information Technology | 16.0% |
| Consumer Discretionary | 15.5% |
| Financials | 10.6% |
| Consumer Staples | 8.8% |
| Materials | 5.3% |
| Communication Services | 2.4% |
| Real Estate | 0.6% |
| Utilities | 0.6% |
| Energy | 0.2% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 23.4% |
| United Kingdom | 12.4% |
| France | 12.2% |
| Switzerland | 9.6% |
| Australia | 7.8% |
| Germany | 7.2% |
| Netherlands | 6.9% |
| Denmark | 6.8% |
| Sweden | 4.0% |
| Italy | 1.7% |
| Other<sup>#</sup> | 8.0% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI EAFE Growth ETF

Annual Shareholder Report — July 31, 2024

EFG-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI EAFE Min Vol Factor ETF

### EFAV \| Cboe BZX Exchange

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI EAFE Min Vol Factor ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI EAFE Min Vol Factor ETF | $21 | 0.20% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. The information technology sector led markets amid enthusiasm over artificial intelligence. 

* With challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June. However, the Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise about 27% of the Fund on average, contributed the most to the Fund's return during the reporting period. Japan's stock market accelerated to new highs during the reporting period, helped by ongoing corporate reforms and the Bank of Japan ending its negative interest rate policy. This interest rate increase helped Japanese banks increase lending profits and net interest margins (the difference between interest revenue and interest expenses of a financial firm). In the United Kingdom, the industrials sector was helped by increased government actions aimed at boosting manufacturing in the country.

What detracted from performance?

Stocks in New Zealand modestly detracted from the Fund's return during the reporting period as the country suffered from economic weakness, negatively impacting stocks in the industrial sector. In Ireland, consumer staples stocks declined amid squeezing profit margins.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269435.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 10.09% | 3.24% | 4.21% |
| Fund Market | 9.68 | 3.29 | 4.21 |
| MSCI All Country World Index | 17.02 | 11.05 | 8.74 |
| MSCI EAFE Minimum Volatility (USD) Index | 9.89 | 3.18 | 4.21 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$6631809752 |
| Number of Portfolio Holdings | &nbsp;&nbsp;244 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$14192984 |
| Portfolio Turnover Rate | &nbsp;&nbsp;23% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 19.2% |
| Health Care | 16.7% |
| Industrials | 15.5% |
| Consumer Staples | 13.2% |
| Communication Services | 9.2% |
| Utilities | 7.0% |
| Consumer Discretionary | 6.7% |
| Information Technology | 4.9% |
| Energy | 4.5% |
| Materials | 2.0% |
| Real Estate | 1.1% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 28.3% |
| Switzerland | 13.7% |
| United Kingdom | 9.7% |
| France | 7.2% |
| Hong Kong | 5.6% |
| Germany | 5.4% |
| Netherlands | 4.1% |
| Singapore | 4.1% |
| Spain | 3.9% |
| Australia | 3.4% |
| Other<sup>#</sup> | 14.6% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI EAFE Min Vol Factor ETF

Annual Shareholder Report — July 31, 2024

EFAV-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI EAFE Small-Cap ETF

### SCZ \| NASDAQ

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI EAFE Small-Cap ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI EAFE Small-Cap ETF | $42 | 0.40% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* The European Central Bank cut its primary lending rate by 0.25% in June while the Bank of Japan exited its zero-interest rate policy that it had held since 2016, raising its short-term policy rate to 0.25%. 

* Higher interest rates have worked against smaller-capitalization names, causing them to underperform their larger peers. 

What contributed to performance?

Japanese small-capitalization stocks led the Fund's return during the reporting period. Japanese stocks, which comprise approximately 34% of the Fund on average, have benefited from resilient economic growth, corporate structural reforms, and a return to monetary policy normalization. The industrials sector was helped by construction manufacturers on increased demand for factory construction and large-scale redevelopment projects. Regional banking stocks positively impacted the Fund's return following the Bank of Japan's gradual move away from negative interest rates, which helped boost net interest income. The United Kingdom comprises approximately 15% of the Fund on average, also contributed to the Fund's return. Toward the end of the reporting period, news of the Labour Party's election win helped smaller-capitalization stocks, which rose on hopes of improved economic growth.

What detracted from performance?

Germany's industrials sector declined during the reporting period, detracting from the Fund's returns. Added to higher energy costs, the sector also felt the effects of geopolitical strife, with shipment delays stemming from both the Russia/Ukraine war and the crisis in the Middle East. In addition to cooling economic data, French small caps lagged due to political uncertainty spurred by a snap Parliamentary election.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269621.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 8.98% | 5.36% | 5.05% |
| Fund Market | 8.70 | 5.51 | 5.10 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI EAFE Small Cap Index | 9.09 | 5.50 | 5.12 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$9751341578 |
| Number of Portfolio Holdings | &nbsp;&nbsp;2130 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$38690777 |
| Portfolio Turnover Rate | &nbsp;&nbsp;14% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total <br>Investments<sup>(a)</sup>* |
| Industrials | 23.3% |
| Financials | 12.8% |
| Consumer Discretionary | 12.6% |
| Real Estate | 10.7% |
| Information Technology | 9.4% |
| Materials | 9.2% |
| Consumer Staples | 6.4% |
| Health Care | 6.0% |
| Communication Services | 3.7% |
| Energy | 3.3% |
| Utilities | 2.6% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total <br>Investments<sup>(a)</sup>* |
| Japan | 35.4% |
| United Kingdom | 15.7% |
| Australia | 8.9% |
| Sweden | 5.8% |
| Switzerland | 4.4% |
| Germany | 3.9% |
| France | 3.5% |
| Italy | 3.3% |
| Israel | 2.7% |
| Norway | 2.5% |
| Other<sup>#</sup> | 13.9% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI EAFE Small-Cap ETF

Annual Shareholder Report — July 31, 2024

SCZ-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI EAFE Value ETF

### EFV \| Cboe BZX Exchange

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI EAFE Value ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI EAFE Value ETF | $35 | 0.33% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. The information technology sector led markets amid enthusiasm over artificial intelligence. 

* Amid challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June. However, the Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise about 23% of the Fund on average, contributed the most to the Fund's return during the reporting period. Japan's stock market accelerated to new highs following ongoing corporate reforms and as the Bank of Japan ended its negative interest rate policy. This interest rate increase helped Japanese banks increase lending profits and net interest margins (the difference between interest revenue and interest expenses of a financial firm). In the United Kingdom, which comprises about 18% of the Fund on average, the financials sector was helped by solid lending income attributed to higher interest rates.

What detracted from performance?

Hong Kong stocks suffered from malaise related to economic weakness in China during the reporting period. Hong Kong's financials sector was particularly impacted by slowing Chinese growth, while slumping property values hindered the real estate sector.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269691.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 13.89% | 7.48% | 3.55% |
| Fund Market | 13.35 | 7.60 | 3.57 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI EAFE Value Index | 13.90 | 7.53 | 3.66 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$14980930767 |
| Number of Portfolio Holdings | &nbsp;&nbsp;473 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$54702522 |
| Portfolio Turnover Rate | &nbsp;&nbsp;28% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 30.2% |
| Industrials | 12.8% |
| Health Care | 8.8% |
| Consumer Staples | 8.3% |
| Energy | 7.9% |
| Materials | 7.9% |
| Consumer Discretionary | 6.7% |
| Utilities | 5.9% |
| Communication Services | 5.8% |
| Real Estate | 3.5% |
| Information Technology | 2.2% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 23.1% |
| United Kingdom | 17.8% |
| Switzerland | 10.2% |
| France | 10.1% |
| Germany | 10.0% |
| Australia | 7.1% |
| Spain | 3.7% |
| Italy | 3.7% |
| Netherlands | 3.2% |
| Sweden | 2.3% |
| Other<sup>#</sup> | 8.8% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI EAFE Value ETF

Annual Shareholder Report — July 31, 2024

EFV-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI Europe Financials ETF

### EUFN \| NASDAQ

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI Europe Financials ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI Europe Financials ETF | $53 | 0.48% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. While the war in Ukraine continued to weigh on European equities, the first half of the period saw the financials sector benefit from wider interest rate margins as interest rates remained high. 

* As inflation moved closer to central bank targets, several countries began lowering borrowing costs, beginning with Switzerland and Sweden. In a major turning point in monetary policy, the European Central Bank cut its primary lending rate by 0.25% in June. 

* During the second half of the reporting period, the performance of banks was helped by the prospects of lower interest rates and the hopes of increased loan demand. 

What contributed to performance?

The United Kingdom ("U.K.") comprised approximately 23% of the Fund on average and was a large driver of the Fund's return during the reporting period. U.K. banks benefited from robust earnings supported by higher interest rates as well as strong liquidity positions. While Italian banks initially declined on news of the Italian Windfall Tax for Banks, a one-time tax that applies to Italian banks and foreign bank branches, stocks quickly recovered. Bank performance was boosted by substantially higher lending income, and Italian banks made significant strides in cost-cutting. Additionally, earnings for Italian financial firms were supported by expanded fees from wealth management units. German financial firms, which comprised approximately 14% of the Fund on average during the reporting period, also benefited from solid earnings and positive future guidance.

What detracted from performance?

For the reporting period ended July 31, 2024, there were no material detractors from the Fund's performance.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269492.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 21.74% | 10.15% | 3.79% |
| Fund Market | 22.11 | 10.30 | 3.87 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI Europe Financials Index | 21.48 | 10.14 | 3.87 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1998357292 |
| Number of Portfolio Holdings | &nbsp;&nbsp;83 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$6772499 |
| Portfolio Turnover Rate | &nbsp;&nbsp;5% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Industry allocation

---

| | |
|:---|:---|
| *Industry* | &nbsp;&nbsp;*Percent of Total <br>Investments<sup>(a)</sup>* |
| Banks | 48.9% |
| Insurance | 28.3% |
| Capital Markets | 16.2% |
| Financial Services | 6.6% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total <br>Investments<sup>(a)</sup>* |
| United Kingdom | 24.3% |
| Switzerland | 14.3% |
| Germany | 13.5% |
| France | 9.4% |
| Italy | 8.9% |
| Spain | 8.2% |
| Netherlands | 6.4% |
| Sweden | 6.3% |
| Finland | 2.7% |
| Belgium | 1.8% |
| Other<sup>#</sup> | 4.2% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI Europe Financials ETF

Annual Shareholder Report — July 31, 2024

EUFN-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI Europe Small-Cap ETF

### IEUS \| NASDAQ

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI Europe Small-Cap ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI Europe Small-Cap ETF | $43 | 0.41% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. However, stocks underperformed their larger-capitalization peers due to increasing risk aversion, their vulnerability to higher interest rates, and the war in Ukraine. 

* As inflation began to move closer to central bank targets, several countries began lowering borrowing costs, beginning with Switzerland and Sweden. 

* In a major turning point in monetary policy, the European Central Bank cut its primary lending rate by 0.25% in June. This was seen as a positive catalyst for small-capitalization stocks as higher borrowing costs have impacted consumers and businesses. 

What contributed to performance?

Stocks in the United Kingdom, which comprise approximately 30% of the Fund on average, contributed to the Fund's return during the reporting period. In the financials sector, banks benefited from solid lending income attributed to higher interest rates, while performance fee income helped asset managers. Sweden's economic outlook improved after the Riksbank became one of the first central banks to start cutting interest rates, helping sectors that benefit from policy easing.

What detracted from performance?

In Germany, stock performance was hindered by economic challenges, including weak growth and slipping business expectations during the reporting period. In particular, the materials sector was strained by shipment delays from the Russia/Ukraine war and the crisis in the Middle East. Healthcare stocks in Germany declined as several companies reported gloomy outlooks. In addition to cooling economic data, stocks in France declined amid political uncertainty spurred by a snap Parliamentary election.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269678.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 11.18% | 6.47% | 5.47% |
| Fund Market | 10.98 | 6.63 | 5.52 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.18 |
| MSCI Europe Small Cap Index | 10.88 | 6.48 | 5.43 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$100224664 |
| Number of Portfolio Holdings | &nbsp;&nbsp;891 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$446610 |
| Portfolio Turnover Rate | &nbsp;&nbsp;16% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Industrials | 24.6% |
| Financials | 16.1% |
| Consumer Discretionary | 10.4% |
| Real Estate | 9.2% |
| Information Technology | 8.2% |
| Health Care | 7.3% |
| Materials | 7.1% |
| Consumer Staples | 5.3% |
| Communication Services | 4.7% |
| Energy | 4.4% |
| Utilities | 2.7% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United Kingdom | 32.4% |
| Sweden | 11.9% |
| Switzerland | 9.0% |
| Germany | 7.9% |
| France | 7.2% |
| Italy | 6.8% |
| Norway | 5.1% |
| Denmark | 4.9% |
| Spain | 3.6% |
| Netherlands | 2.8% |
| Other<sup>#</sup> | 8.4% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI Europe Small-Cap ETF

Annual Shareholder Report — July 31, 2024

IEUS-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI Intl Momentum Factor ETF

### IMTM \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI Intl Momentum Factor ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year ?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI Intl Momentum Factor ETF | $33 | 0.30% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. The information technology sector led markets amid enthusiasm over artificial intelligence. 

* With challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June. However, the Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Stocks with momentum characteristics advanced across regions during the reporting period. As markets consistently trended upward, the momentum factor strongly contributed to returns.

Japanese equities, which comprise about 39% of the Fund on average, meaningfully contributed to the Fund's return during the reporting period. Japan's stock market accelerated to new highs, helped by ongoing corporate reforms and the Bank of Japan ending its negative interest rate policy. In Denmark, the healthcare sector contributed to the Fund's performance, as pharmaceutical and biotechnology stocks gained amid positive clinical trials and enthusiasm over GLP-1 weight loss drugs.

What detracted from performance?

Stocks in Hong Kong detracted from the Fund's performance during the reporting period. Given Hong Kong's status as a special administrative region of China, financials stocks were negatively impacted by increased regulatory oversight in an attempt to prevent risks that could spread to all segments of the markets.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: January 13, 2015 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269236.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 19.98% | 8.97% | 7.26% |
| Fund Market | 19.78 | 9.11 | 7.27 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 5.47 |
| MSCI World ex USA Momentum Index | 20.32 | 9.23 | 7.54 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$2240649449 |
| Number of Portfolio Holdings | &nbsp;&nbsp;306 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$5356821 |
| Portfolio Turnover Rate | &nbsp;&nbsp;70% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

The inception date of the Fund was January 13, 2015. The first day of secondary market trading was January 15, 2015.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Industrials | 26.8% |
| Financials | 24.0% |
| Information Technology | 14.8% |
| Consumer Discretionary | 11.5% |
| Health Care | 9.2% |
| Materials | 4.9% |
| Communication Services | 2.6% |
| Real Estate | 2.3% |
| Energy | 1.7% |
| Consumer Staples | 1.6% |
| Utilities | 0.6% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 42.8% |
| France | 8.2% |
| Germany | 7.0% |
| Netherlands | 6.3% |
| United Kingdom | 6.2% |
| Canada | 5.3% |
| Denmark | 5.2% |
| Switzerland | 4.5% |
| Italy | 3.6% |
| Australia | 3.6% |
| Other<sup>#</sup> | 7.3% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI Intl Momentum Factor ETF

Annual Shareholder Report — July 31, 2024

IMTM-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI Intl Quality Factor ETF

### IQLT \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI Intl Quality Factor ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI Intl Quality Factor ETF | $32 | 0.30% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. The information technology sector led markets amid enthusiasm over artificial intelligence. 

* With challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June. However, the Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprise about 12% of the Fund on average, strongly contributed to the Fund's return. Japan's stock market accelerated to new highs, helped by ongoing corporate reforms and the Bank of Japan ending its negative interest rate policy. In Denmark, the healthcare sector contributed to the Fund's performance, as pharmaceutical and biotechnology stocks gained amid positive clinical trials and enthusiasm over GLP-1 weight loss drugs.

What detracted from performance?

Stocks in France detracted the most from the Fund's return during the reporting period, most notably within the consumer discretionary sector as consumers continue to curb their spending on luxury goods.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: January 13, 2015 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269191.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 11.48% | 8.40% | 7.30% |
| Fund Market | 11.11 | 8.49 | 7.28 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 5.47 |
| MSCI World ex USA Sector Neutral Quality Index | 11.26 | 8.45 | 7.44 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$8083998916 |
| Number of Portfolio Holdings | &nbsp;&nbsp;306 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$22212680 |
| Portfolio Turnover Rate | &nbsp;&nbsp;27% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

The inception date of the Fund was January 13, 2015. The first day of secondary market trading was January 15, 2015.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 21.8% |
| Industrials | 16.9% |
| Health Care | 12.2% |
| Consumer Discretionary | 10.3% |
| Information Technology | 8.8% |
| Consumer Staples | 8.2% |
| Materials | 7.2% |
| Energy | 5.6% |
| Communication Services | 3.8% |
| Utilities | 3.3% |
| Real Estate | 1.9% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United Kingdom | 17.2% |
| Switzerland | 15.2% |
| Japan | 13.0% |
| France | 8.5% |
| Netherlands | 7.4% |
| Canada | 7.0% |
| Australia | 5.8% |
| Germany | 5.4% |
| Denmark | 4.7% |
| Sweden | 4.6% |
| Other<sup>#</sup> | 11.2% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI Intl Quality Factor ETF

Annual Shareholder Report — July 31, 2024

IQLT-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI Intl Size Factor ETF

### ISZE \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI Intl Size Factor ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI Intl Size Factor ETF | $31 | 0.30% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. Performance was led by information technology companies amid enthusiasm over artificial intelligence, resulting in large-capitalization stocks outperforming their smaller peers. 

* Given challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June. However, the Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Japanese equities, which comprised about 27% of the Fund on average, contributed the most to the Fund's return. Japan's stock market accelerated to new highs during the reporting period, and financial firms were helped by ongoing corporate reforms and the Bank of Japan ending its negative interest rate policy. In Canada, which represented approximately 10% of the Fund on average, materials stocks contributed to performance, largely due to increased gold exports. The country is one of the world's leading gold producers and exporters and benefited as gold prices reached all-time highs.

What detracted from performance?

Stocks in Hong Kong detracted from the Fund's performance during the reporting period. Given Hong Kong's status as a special administrative region of China, financials stocks were negatively impacted by increased regulatory oversight in an attempt to prevent risks that could spread to all segments of the markets.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: June 16, 2015 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_6105067.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 7.04% | 5.06% | 4.58% |
| Fund Market | 7.11 | 5.24 | 4.58 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.99 |
| MSCI World ex USA Low Size Index | 7.18 | 5.24 | 4.69 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$5376244 |
| Number of Portfolio Holdings | &nbsp;&nbsp;819 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$24583 |
| Portfolio Turnover Rate | &nbsp;&nbsp;17% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

The inception date of the Fund was June 16, 2015. The first day of secondary market trading was June 18, 2015.

The performance of the MSCI World ex USA Low Size Index in this report reflects the performance of the MSCI World ex USA Risk Weighted Index through December 2, 2018 and, beginning on December 3, 2018, the performance of the MSCI World ex USA Low Size Index.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Industrials | 19.9% |
| Financials | 17.7% |
| Consumer Discretionary | 10.5% |
| Materials | 8.3% |
| Information Technology | 7.9% |
| Consumer Staples | 7.8% |
| Health Care | 7.6% |
| Communication Services | 5.8% |
| Real Estate | 5.7% |
| Utilities | 5.3% |
| Energy | 3.5% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 26.3% |
| Canada | 10.8% |
| United Kingdom | 9.7% |
| Australia | 7.3% |
| France | 6.8% |
| Germany | 6.3% |
| Switzerland | 5.1% |
| Sweden | 4.8% |
| Netherlands | 3.1% |
| Hong Kong | 3.0% |
| Other<sup>#</sup> | 16.8% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Material Fund Changes
This is a summary of certain changes to the Fund since July 31, 2023.

On June 5, 2024, the Board of Trustees of the Fund approved the liquidation of the Fund. After the close of business on August 12, 2024, the Fund no longer accepted creation orders. Trading in the Fund halted prior to market open on August 13, 2024. Proceeds of the liquidation were sent to shareholders on August 15, 2024.

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI Intl Size Factor ETF

Annual Shareholder Report — July 31, 2024

ISZE-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI Intl Value Factor ETF

### IVLU \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI Intl Value Factor ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI Intl Value Factor ETF | $32 | 0.30% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. The information technology sector led markets amid enthusiasm over artificial intelligence. 

* With challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June. However, the Bank of Japan exited its zero-interest rate policy that it had held since 2016 and raised its short-term policy rate to 0.25%. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

International developed markets were impacted by geopolitical tensions and high interest rates, as central banks continued to attempt to tame high inflation. In this environment, stocks with value-oriented characteristics advanced.

Stocks in Japan, which represented approximately 33% of the Fund on average, led the Fund's return during the reporting period. Japanese stocks have benefited from resilient economic growth, corporate structural reforms, and a return to monetary policy normalization. The industrials sector was helped by construction manufacturers on increased demand for factory construction and large-scale redevelopment projects. In the United Kingdom, which comprised about 16% of the Fund on average, the financials sector was helped by solid lending income attributed to higher interest rates.

What detracted from performance?

In Germany, stock performance was hindered by economic challenges, including weak growth and slipping business expectations during the reporting period. In particular, healthcare stocks declined as several companies reported gloomy outlooks.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: June 16, 2015 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269005.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | 13.34% | 8.54% | 4.93% |
| Fund Market | 12.88 | 8.58 | 4.91 |
| MSCI ACWI ex USA Index | 9.75 | 6.29 | 4.99 |
| MSCI World ex USA Enhanced Value Index | 13.44 | 8.72 | 5.02 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$1791353672 |
| Number of Portfolio Holdings | &nbsp;&nbsp;357 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$5086180 |
| Portfolio Turnover Rate | &nbsp;&nbsp;16% |

---

The Fund has added the MSCI ACWI ex USA Index in response to new regulatory requirements.

The inception date of the Fund was June 16, 2015. The first day of secondary market trading was June 18, 2015.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Financials | 22.0% |
| Industrials | 16.4% |
| Health Care | 12.5% |
| Consumer Discretionary | 9.8% |
| Information Technology | 9.5% |
| Consumer Staples | 8.5% |
| Materials | 6.9% |
| Energy | 5.6% |
| Communication Services | 3.8% |
| Utilities | 3.1% |
| Real Estate | 1.9% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| Japan | 31.5% |
| United Kingdom | 17.0% |
| France | 11.3% |
| Germany | 10.6% |
| Switzerland | 5.3% |
| Italy | 4.2% |
| Spain | 3.1% |
| Canada | 3.0% |
| Netherlands | 2.9% |
| Australia | 2.0% |
| Other<sup>#</sup> | 9.1% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI Intl Value Factor ETF

Annual Shareholder Report — July 31, 2024

IVLU-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares MSCI Kokusai ETF

### TOK \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares MSCI Kokusai ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares MSCI Kokusai ETF | $31 | 0.28% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global stocks higher for the reporting period. U.S. equities led markets, propelled by the information technology sector and enthusiasm over artificial intelligence ("AI"). 

* Amid challenging economic conditions, the European Central Bank cut its primary lending rate by 0.25% in June, while the U.S. Federal Reserve Bank left interest rates unchanged. 

* Market sentiment swung late in the period, shifting away from information technology stocks amid growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

The United States is the largest component of the Fund, comprising approximately 75% on average during the reporting period, and was also the most significant driver of the Fund's return. Performance was largely driven by a handful of dominant information technology companies that have been able to rapidly innovate, capture significant market share, and generate substantial profits. Among these stocks, those that produce semiconductors were the most significant beneficiaries of excitement for AI and the U.S. government's efforts to increase domestic chipmaking capacity. The financials sector was helped by solid earnings results from wealth management firms as well as banks benefiting from the prospect of future rate cuts.

What detracted from performance?

Stocks in Hong Kong minimally detracted from the Fund's performance during the reporting period. Given Hong Kong's status as a special administrative region of China, financials stocks were negatively impacted by increased regulatory oversight in an attempt to prevent risks that could spread to all segments of the markets. Additionally, China's prolonged property crisis has weighed on investment activity for financial firms.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 1, 2014 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5269608.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *10 Years* |
| Fund NAV | 19.20% | 12.70% | 10.09% |
| Fund Market | 19.39 | 12.70 | 10.13 |
| MSCI All Country World Index | 17.02 | 11.05 | 8.74 |
| MSCI Kokusai Index | 18.47 | 12.38 | 9.81 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$262446626 |
| Number of Portfolio Holdings | &nbsp;&nbsp;1232 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$489111 |
| Portfolio Turnover Rate | &nbsp;&nbsp;4% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Information Technology | 25.6% |
| Financials | 15.4% |
| Health Care | 12.2% |
| Industrials | 10.3% |
| Consumer Discretionary | 9.6% |
| Communication Services | 7.5% |
| Consumer Staples | 6.4% |
| Energy | 4.5% |
| Materials | 3.7% |
| Utilities | 2.6% |
| Real Estate | 2.2% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 76.1% |
| United Kingdom | 4.1% |
| Canada | 3.2% |
| France | 3.0% |
| Switzerland | 2.6% |
| Germany | 2.3% |
| Australia | 2.0% |
| Netherlands | 1.3% |
| Denmark | 1.0% |
| Sweden | 0.9% |
| Other<sup>#</sup> | 3.5% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc. and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares MSCI Kokusai ETF

Annual Shareholder Report — July 31, 2024

TOK-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Neuroscience and Healthcare ETF

### IBRN \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Neuroscience and Healthcare ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Neuroscience and Healthcare ETF | $48 | 0.47% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* The U.S. Federal Reserve Bank left rates on hold during the reporting period as the central bank sought greater confidence in slowing inflationary pressures. As inflation measures became more subdued, expectations increased for interest rate cuts in 2024. 

* However, market sentiment swung late in the one-year period amid a shift away from information technology stocks and growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

U.S. stocks, which represented approximately 80% of the Fund on average during the reporting period, contributed the most to the Fund's return. Approvals from the U.S. Food and Drug Administration for new treatments for Alzheimer's disease and Duchenne Muscular Dystrophy benefited biotechnology firms. Firms that develop medicines for life-threatening diseases or unmet medical needs gained on announcements of strategic partnerships and licensing deals.

What detracted from performance?

Notable detractors from the Fund's performance during the reporting period included a Swedish biotechnology firm that declined amid management changes that negatively impacted investor confidence. Several medical device equipment companies in the United States also declined. A company focused on skin regeneration fell on news of proposals from private U.S. health insurers that would reduce coverage for biological wounds. Another company cut its outlook for the year as the U.S. spinal cord stimulation market has failed to recover to pre-pandemic levels.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: August 24, 2022 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268819.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br>Inception* |
| Fund NAV | 4.43% | 0.96% |
| Fund Market | 4.08 | 0.88 |
| MSCI All Country World Index | 17.02 | 15.67 |
| NYSE<sup>®</sup> FactSet<sup>®</sup> Global Neuro Biopharma and MedTech Index | 4.46 | 1.06 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$3856604 |
| Number of Portfolio Holdings | &nbsp;&nbsp;54 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$18472 |
| Portfolio Turnover Rate | &nbsp;&nbsp;47% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

The inception date of the Fund was August 24, 2022. The first day of secondary market trading was August 26, 2022.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Industry allocation

---

| | |
|:---|:---|
| *Industry* | &nbsp;&nbsp;*Percent of Total <br>Investments<sup>(a)</sup>* |
| Biotechnology | 62.3% |
| Pharmaceuticals | 28.8% |
| Health Care Equipment & Supplies | 8.6% |
| Life Sciences Tools & Services | 0.3% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total <br>Investments<sup>(a)</sup>* |
| United States | 81.0% |
| Netherlands | 5.0% |
| South Korea | 3.6% |
| Denmark | 3.2% |
| Ireland | 2.8% |
| Australia | 2.7% |
| Sweden | 1.1% |
| China | 0.3% |
| Italy | 0.3% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc., NYSE Group, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Neuroscience and Healthcare ETF

Annual Shareholder Report — July 31, 2024

IBRN-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Robotics and Artificial Intelligence Multisector ETF

### IRBO \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Robotics and Artificial Intelligence Multisector ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Robotics and Artificial Intelligence Multisector ETF | $47 | 0.47% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* U.S. stocks powered markets higher, driven by the enthusiasm for artificial intelligence ("AI"), which was particularly evident in the information technology sector. 

* However, market sentiment swung late in the reporting period amid a shift away from information technology stocks as uncertainty surrounding economic growth, geopolitics, and the upcoming U.S. presidential election grew. Adding to the volatility was a technical outage stemming from a major cybersecurity supplier that impacted a wide variety of companies and prompted swift analyst downgrades of the company's stock, sending shares tumbling. 

What contributed to performance?

U.S. stocks, which represented approximately 51% of the Fund on average during the reporting period, contributed to the Fund's return. Increased usage and demand for AI reverberated across the information technology sector, benefiting semiconductor manufacturers that provide the backbone for the complex calculations required for AI algorithms. Application software firms gained as they provided AI solutions to increase productivity and accelerate business outcomes.

What detracted from performance?

Stocks of companies producing or using robotics and AI applications detracted from the Fund's return during the reporting period. Geopolitical tensions, weak domestic demand, increased regulatory oversight, and the threat of additional trade sanctions and tariffs weighed on Chinese stocks. Within the media and entertainment industry, the threat of proposed rules designed to reduce spending and rewards in online gaming weighed on returns, although these regulations have yet to be enacted. Among interactive media and services firms, stocks of social media and Internet search companies declined. In France, high debt, low investor confidence, and a failed sale of a flagging business area sent the stock of an information technology consulting company lower.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: June 26, 2018 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268864.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | (1.95) % | 7.19% | 6.85% |
| Fund Market | (2.49) | 7.12 | 6.81 |
| MSCI All Country World Index | 17.02 | 11.05 | 10.05 |
| NYSE<sup>®</sup> FactSet<sup>®</sup> Global Robotics and Artificial Intelligence Index | (1.67) | 7.42 | 7.07 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$638200718 |
| Number of Portfolio Holdings | &nbsp;&nbsp;105 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$2734104 |
| Portfolio Turnover Rate | &nbsp;&nbsp;40% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

The inception date of the Fund was June 26, 2018. The first day of secondary market trading was June 28, 2018.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Information Technology | 54.1% |
| Communication Services | 20.7% |
| Industrials | 17.2% |
| Consumer Discretionary | 5.9% |
| Financials | 1.1% |
| Health Care | 1.0% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 52.4% |
| China | 12.6% |
| Japan | 10.3% |
| Taiwan | 8.0% |
| South Korea | 2.8% |
| Israel | 1.8% |
| Germany | 1.7% |
| France | 1.6% |
| Guernsey | 1.2% |
| India | 1.1% |
| Other<sup>#</sup> | 6.5% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Material Fund Changes
This is a summary of certain changes to the Fund since July 31, 2023. For more complete information, you may review the Fund's next prospectus, which we expect to be available approximately 120 days after July 31, 2024 at **blackrock.com/fundreports** or upon request by contacting us at 1-800-iShares (1-800-474-2737).

On June 5, 2024, the Board of Trustees approved a proposal to change the fund name of iShares Robotics and Artificial Intelligence Multisector ETF to iShares Future AI & Tech ETF, the ticker from IRBO to ARTY, the fiscal year end from July 31 to March 31, and the underlying index from NYSE<sup>®</sup> FactSet<sup>®</sup> Global Robotics and Artificial Intelligence Index to Morningstar Global Artificial Intelligence Select Index and to make related changes to the Fund's investment objective, investment strategy, and investment risks. The Fund's revised investment objective is to seek to track the investment results of an index composed of U.S. and non U.S. companies that provide products and services that are expected to contribute to artificial intelligence ("AI") technologies in areas including generative AI, AI data and infrastructure, AI software, and AI services. These changes became effective on August 12, 2024.

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc., NYSE Group, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Robotics and Artificial Intelligence Multisector ETF

Annual Shareholder Report — July 31, 2024

IRBO-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Self-Driving EV and Tech ETF

### IDRV \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Self-Driving EV and Tech ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Self-Driving EV and Tech ETF | $39 | 0.47% |

---

#### How did the Fund perform last year?
* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* U.S. stocks powered markets higher, driven by the enthusiasm for artificial intelligence ("AI"), which was particularly evident in the information technology sector. 

* Sales of electric vehicles ("EV") increased in 2023; however, these manufacturers suffered from intensified competition and escalating price wars. 

* Market sentiment swung late in the one-year period amid a shift away from information technology stocks and growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Switzerland modestly contributed to the Fund's return during the reporting period as a global technology company that manufactures factory robots and electric motors for ships advanced. The firm reported better-than-expected first-quarter profit and signaled faster growth in the coming months. A French automaker with a long history and a dedicated EV platform gained after the company canceled plans to spin off its dedicated electric vehicle and software business.

What detracted from performance?

Amid slowing profitability and increased competition, companies that make EVs and firms that supply components to these manufacturers slumped. U.S. stocks, which represented approximately 31% of the Fund on average during the reporting period, were the largest detractor from performance. Reports of self-driving safety issues from the world's largest EV manufacturer also hindered the performance of the industry. While China is the world's largest market for EVs, these automobile manufacturers declined as the United States, the European Union, and Latin America increased tariffs on Chinese imports and fears grew that more countries would do the same.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: April 16, 2019 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_5268806.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | | |
|:---|:---|:---|:---|
| **Average annual total returns** |  |  |  |
|  | *1 Year* | *5 Years* | *Since Fund<br>Inception* |
| Fund NAV | (34.17) % | 5.81% | 4.59% |
| Fund Market | (34.24) | 5.76 | 4.53 |
| MSCI All Country World Index | 17.02 | 11.05 | 10.64 |
| NYSE<sup>®</sup> FactSet<sup>®</sup> Global Autonomous Driving and Electric Vehicle Index | (35.22) | 5.58 | 4.36 |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$197174584 |
| Number of Portfolio Holdings | &nbsp;&nbsp;53 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$1440717 |
| Portfolio Turnover Rate | &nbsp;&nbsp;38% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

The inception date of the Fund was April 16, 2019. The first day of secondary market trading was April 18, 2019.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Consumer Discretionary | 63.4% |
| Industrials | 21.2% |
| Materials | 7.8% |
| Information Technology | 7.6% |

---

Country/Geographic allocation

---

| | |
|:---|:---|
| *Country/Geographic Region* | *Percent of Total<br>Investments<sup>(a)</sup>* |
| United States | 33.7% |
| China | 20.5% |
| South Korea | 10.0% |
| Germany | 8.2% |
| France | 8.0% |
| Japan | 6.8% |
| Switzerland | 4.1% |
| Australia | 3.3% |
| Sweden | 2.7% |
| Taiwan | 1.2% |
| Other<sup>#</sup> | 1.5% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup> <br> <sup><sup>#</sup></sup> <sup>Ten largest country/geographic regions are presented. Additional country/geographic regions are found in Other.</sup>

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc., NYSE Group, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Self-Driving EV and Tech ETF

Annual Shareholder Report — July 31, 2024

IDRV-07/24-AR

![TSR - BLK iShares Logo](g40991images_4333.jpg)

### iShares Virtual Work and Life Multisector ETF

### IWFH \| NYSE Arca

#### Annual Shareholder Report — July 31, 2024

------

This annual shareholder report contains important information about iShares Virtual Work and Life Multisector ETF (the "Fund") for the period of August 1, 2023 to July 31, 2024. You can find additional information about the Fund at **blackrock.com/fundreports.** You can also request this information by contacting us at 1-800-iShares (1-800-474-2737).

#### This report describes changes to the Fund that occurred during the reporting period.

#### What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund name** | **Costs of a $10,000<br>investment** | **Costs paid as a percentage of a<br>$10,000 investment** |
| iShares Virtual Work and Life Multisector ETF | $46 | 0.47% |

---

How did the Fund perform last year?

* Slowing inflationary pressures and hopes of interest rate cuts drove global equities higher for the reporting period. 

* U.S. stocks powered markets higher, driven by the enthusiasm for artificial intelligence, which was particularly evident in the information technology sector. 

* However, market sentiment swung late in the one-year period amid a shift away from information technology stocks and growing uncertainty about economic growth, geopolitics, and the upcoming U.S. presidential election. 

What contributed to performance?

Indian equities contributed the most to the Fund's return during the reporting period. The country overtook China as the world's most populous country and has benefited from strong economic growth. In the country's consumer discretionary sector, companies that provide delivery services advanced amid solid financial performance and an increasing customer base. Information technology stocks in Israel also advanced, including those that provide workplace management project services and digital solutions.

What detracted from performance?

As companies started to require employees to return to the office, global stocks of companies focused on working and studying from home detracted from the Fund's performance. Chinese stocks, which represented approximately 13% of the Fund on average during the reporting period, detracted from the Fund's return. E-commerce firms and those that support them declined amid growing concerns about China's economic health and the state of the country's property sector. In Germany, a major global food deliverer slumped on news of antitrust violations and fines totaling over $400 million.

The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.

#### Fund performance
Cumulative performance: September 29, 2020 through July 31, 2024

Initial investment of $10,000

![Fund Performance - Growth of 10K](g40991chartimages_6105114.jpg)

See "Average annual total returns" for additional information on fund performance.

---

| | | |
|:---|:---|:---|
| **Average annual total returns** |  |  |
|  | *1 Year* | *Since Fund<br>Inception* |
| Fund NAV | (5.16) % | (11.57) % |
| Fund Market | (5.33) | (11.63) |
| MSCI All Country World Index | 17.02 | 11.92 |
| NYSE<sup>®</sup> FactSet<sup>®</sup> Global Virtual Work and Life Index | (4.48) | (11.10) |

---

---

| | |
|:---|:---|
| **Key Fund statistics** |  |
| Net Assets | &nbsp;&nbsp;$3072103 |
| Number of Portfolio Holdings | &nbsp;&nbsp;72 |
| Net Investment Advisory Fees | &nbsp;&nbsp;$14006 |
| Portfolio Turnover Rate | &nbsp;&nbsp;43% |

---

The Fund has added the MSCI All Country World Index in response to new regulatory requirements.

The inception date of the Fund was September 29, 2020. The first day of secondary market trading was October 1, 2020.

**Past performance is not an indication of future results.** Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. Visit **iShares.com** for more recent performance information.

#### What did the Fund invest in?
(as of July 31, 2024)

Sector allocation

---

| | |
|:---|:---|
| *Sector* | &nbsp;&nbsp;*Percent of Total<br>Investments<sup>(a)</sup>* |
| Information Technology | 41.1% |
| Communication Services | 30.4% |
| Consumer Discretionary | 19.2% |
| Consumer Staples | 6.1% |
| Health Care | 3.2% |

---

Ten largest holdings

---

| | |
|:---|:---|
| *Security* | *Percent of Total <br>Investments<sup>(a)</sup>* |
| Zomato Ltd. | 2.5% |
| Nexon Co. Ltd. | 2.5% |
| Braze Inc., Class A | 2.4% |
| Match Group Inc. | 2.3% |
| Tyler Technologies Inc. | 2.3% |
| Dropbox Inc., Class A | 2.2% |
| Spotify Technology SA | 2.2% |
| Electronic Arts Inc. | 2.2% |
| Cloudflare Inc., Class A | 2.2% |
| Stride Inc. | 2.2% |

---

<sup><sup>(a)</sup></sup> <sup>Excludes money market funds.</sup>

#### Material Fund Changes
This is a summary of certain changes to the Fund since July 31, 2023.

On June 5, 2024, the Board of Trustees of the Fund approved the liquidation of the Fund. After the close of business on August 12, 2024, the Fund no longer accepted creation orders. Trading in the Fund halted prior to market open on August 13, 2024. Proceeds of the liquidation were sent to shareholders on August 15, 2024.

#### Additional Information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund's prospectus, and proxy voting policies and procedures, please visit **blackrock.com/fundreports.** For proxy voting records, visit **blackrock.com/proxyrecords**.

#### Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Fund is not sponsored, endorsed, issued, sold, or promoted by MSCI, Inc., NYSE Group, Inc. and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

![TSR - BLK iShares Logo Footer](g40991images_4334.jpg)

iShares Virtual Work and Life Multisector ETF

Annual Shareholder Report — July 31, 2024

IWFH-07/24-AR

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable

Item 2 – Code of Ethics - The registrant has adopted a code of ethics, as of the end of the period covered by this report, applicable to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. During the period covered by this report, the registrant has not amended the code of ethics and there have been no waivers granted under the code of ethics. The registrant undertakes to provide a copy of the code of ethics to any person upon request, without charge, by calling 1-800-474-2737.

Item 3 – Audit Committee Financial Expert - The registrant's board of trustees (the "board of trustees"), has determined that (i) the registrant has the following audit committee financial experts serving on its audit committee and (ii) each audit committee financial expert is independent:

Richard L. Fagnani

Madhav V. Rajan

Under applicable securities laws, a person determined to be an audit committee financial expert will not be deemed an "expert" for any purpose, including without limitation for the purposes of Section 11 of the Securities Act of 1933, as a result of being designated or identified as an audit committee financial expert. The designation or identification of a person as an audit committee financial expert does not impose on such person any duties, obligations, or liabilities greater than the duties, obligations, and liabilities imposed on such person as a member of the audit committee and board of trustees in the absence of such designation or identification. The designation or identification of a person as an audit committee financial expert does not affect the duties, obligations, or liability of any other member of the audit committee or board of trustees.

Item 4 – Principal Accountant Fees and Services.

The principal accountant fees disclosed in items 4(a), 4(b), 4(c), 4(d) and 4(g) are for the thirty-nine series of the registrant for which the fiscal year-end is July 31, 2024 (the "Funds"), and whose annual financial statements are reported in Item 7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Audit Fees</u> – The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the Funds' annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $612,800 for the fiscal year ended July 31, 2023 and $624,000 for the fiscal year ended July 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Audit-Related Fees</u> – There were no fees billed for the fiscal years ended July 31, 2023 and July 31, 2024 for assurance and related services by the principal accountant that were reasonably related to the performance of the audit of the Fund's financial statements and are not reported under (a) of this Item.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Tax Fees</u> – The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning for the Funds were $368,600 for the fiscal year ended July 31, 2023 and $349,200 for the fiscal year ended July 31, 2024. These services related to the review of the Funds' tax returns and excise tax calculations.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>All Other Fees</u> – There were no other fees billed in each of the fiscal years ended July 31, 2023 and July 31, 2024 for products and services provided by the principal accountant, other than the services reported in (a) through (c) of this Item.

(e)(1) The registrant's audit committee charter, as amended, provides that the audit committee is responsible for the approval, prior to appointment, of the engagement of the principal accountant to annually audit and provide their opinion on the registrant's financial statements. The audit committee must also approve, prior to appointment, the engagement of the principal accountant to provide non-audit services to the registrant or to any entity controlling, controlled by or under common control with the registrant's investment adviser ("Adviser Affiliate") that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) There were no services described in (b) through (d) above that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Not applicable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The aggregate non-audit fees billed by the registrant's principal accountant for services rendered to the Funds, and rendered to the registrant's investment adviser, and any Adviser Affiliate that provides ongoing services to the registrant for the last two fiscal years were $368,600 for the fiscal year ended July 31, 2023 and $349,200 for the fiscal year ended July 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The registrant's audit committee has considered whether the provision of non-audit services rendered to the registrant's investment adviser and any Adviser Affiliate that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, if any, is compatible with maintaining the principal accountant's independence, and has determined that the provision of these services, if any, does not compromise the principal accountant's independence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Not applicable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Not applicable

Item 5 – Audit Committee of Listed Registrant

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The following individuals are members of the registrant's separately designated standing Committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(58)(A)):

Richard L. Fagnani

Laura F. Fergerson

Cecilia H. Herbert

Madhav V. Rajan

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable

------

Item 6 – Investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The registrant's Schedule of Investments is included as part of the Financial Statements and Financial Highlights for Open-End Management Investment Companies filed under Item 7 of this Form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.

Item 7 – Financial Statements and Financial Highlights for Open-End Management Investment Companies

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The registrant's Financial Statements are attached herewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The registrant's Financial Highlights are attached herewith.

------

July 31, 2024

![](g40991imgabafdce01.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2024 Annual Financial Statements <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares China Large-Cap ETF \| FXI \| NYSE Arca |
| • iShares MSCI China A ETF \| CNYA \| Cboe BZX |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 13 |
| [Statements of Operations](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 14 |
| [Statements of Changes in Net Assets](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 15 |
| [Financial Highlights](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_FS-Footer-iSharesReport_4)  | &nbsp;&nbsp; 16 |
| [Notes to Financial Statements](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 18 |
| [Report of Independent Registered Public Accounting Firm](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_opinion-Footer-iSharesReport-124_1)  | &nbsp;&nbsp; 26 |
| [Important Tax Information](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 27 |
| [Additional Information](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_SAI-Footer-iSharesReport-124_1)  | &nbsp;&nbsp; 28 |
| [Board Review and Approval of Investment Advisory Contract](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_15Cheader-Footer-iSharesReport-124_1)  | &nbsp;&nbsp; 30 |
| [Glossary of Terms Used in this Report](#xx_ae494c16-8ee6-4021-b3c2-b1247f1a856a_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 35 |

---

------

Schedule of Investments

July 31, 2024

**iShares® China Large-Cap ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Automobiles — 5.3%** | **Automobiles — 5.3%** | **Automobiles — 5.3%** |
| BYD Co. Ltd., Class H | &nbsp;&nbsp; 5128000 | $151813219 |
| Great Wall Motor Co. Ltd., Class H | &nbsp;&nbsp; 12221500 | 16686966 |
| Li Auto Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5659400 | 55361446 |
|  |  | 223861631 |
| **Banks — 22.2%** | **Banks — 22.2%** | **Banks — 22.2%** |
| Agricultural Bank of China Ltd., Class H | &nbsp;&nbsp; 161596000 | 72313002 |
| Bank of China Ltd., Class H | &nbsp;&nbsp; 407902000 | 181633900 |
| Bank of Communications Co. Ltd., Class H | &nbsp;&nbsp; 38169200 | 27733307 |
| China CITIC Bank Corp. Ltd., Class H | &nbsp;&nbsp; 48983000 | 29312910 |
| China Construction Bank Corp., Class H | &nbsp;&nbsp; 431214320 | 301110825 |
| China Everbright Bank Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 16298000 | 4920853 |
| China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp; 19885438 | 82421676 |
| China Minsheng Banking Corp. Ltd., Class H | &nbsp;&nbsp; 33415600 | 11842835 |
| Industrial & Commercial Bank of China Ltd., <br> Class H<br>| &nbsp;&nbsp; 363805995 | 201541914 |
| Postal Savings Bank of China Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 57001000 | 30480464 |
|  |  | 943311686 |
| **Beverages — 0.8%** | **Beverages — 0.8%** | **Beverages — 0.8%** |
| Nongfu Spring Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 9173400 | 35635516 |
| **Biotechnology — 1.0%** | **Biotechnology — 1.0%** | **Biotechnology — 1.0%** |
| BeiGene Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3281100 | 41744594 |
| **Broadline Retail — 13.4%** | **Broadline Retail — 13.4%** | **Broadline Retail — 13.4%** |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp; 41910400 | 412407665 |
| JD.com Inc. | &nbsp;&nbsp; 11948300 | 157545475 |
|  |  | 569953140 |
| **Capital Markets — 0.6%** | **Capital Markets — 0.6%** | **Capital Markets — 0.6%** |
| China International Capital Corp. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 7758400 | 8647454 |
| CITIC Securities Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 8611200 | 12950422 |
| CSC Financial Co. Ltd., Class H<sup>(b)(c)</sup> | &nbsp;&nbsp; 4749500 | 3359073 |
|  |  | 24956949 |
| **Construction & Engineering — 0.2%** | **Construction & Engineering — 0.2%** | **Construction & Engineering — 0.2%** |
| China Railway Group Ltd., Class H | &nbsp;&nbsp; 21201000 | 10338911 |
| **Entertainment — 3.9%** | **Entertainment — 3.9%** | **Entertainment — 3.9%** |
| NetEase Inc. | &nbsp;&nbsp; 9126800 | 168330853 |
| **Hotels, Restaurants & Leisure — 10.8%** | **Hotels, Restaurants & Leisure — 10.8%** | **Hotels, Restaurants & Leisure — 10.8%** |
| Meituan, Class B<sup>(a)(c)</sup> | &nbsp;&nbsp; 24669620 | 341591788 |
| Trip.com Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2774050 | 118428865 |
|  |  | 460020653 |
| **Household Durables — 0.9%** | **Household Durables — 0.9%** | **Household Durables — 0.9%** |
| Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp; 12116000 | 39612232 |
| **Independent Power and Renewable Electricity Producers — 0.6%** | **Independent Power and Renewable Electricity Producers — 0.6%** | **Independent Power and Renewable Electricity Producers — 0.6%** |
| CGN Power Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 58733000 | 23984738 |
| **Industrial Conglomerates — 0.7%** | **Industrial Conglomerates — 0.7%** | **Industrial Conglomerates — 0.7%** |
| CITIC Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 33464000 | 30852717 |
| **Insurance — 6.9%** | **Insurance — 6.9%** | **Insurance — 6.9%** |
| China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 39104000 | 54251162 |
| China Pacific Insurance Group Co. Ltd., Class H | &nbsp;&nbsp; 13568200 | 36064489 |
| People's Insurance Co. Group of China Ltd. (The), <br> Class H<br>| &nbsp;&nbsp; 42975000 | 14459465 |
| PICC Property & Casualty Co. Ltd., Class H | &nbsp;&nbsp; 35340000 | 46342019 |
| Ping An Insurance Group Co. of China Ltd., Class H | &nbsp;&nbsp; 32697500 | 141992777 |
|  |  | 293109912 |
| **Interactive Media & Services — 13.7%** | **Interactive Media & Services — 13.7%** | **Interactive Media & Services — 13.7%** |
| Baidu Inc.<sup>(a)</sup> | &nbsp;&nbsp; 11680250 | 129505949 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Interactive Media & Services (continued)** | **Interactive Media & Services (continued)** | **Interactive Media & Services (continued)** |
| Kuaishou Technology<sup>(a)(c)</sup> | &nbsp;&nbsp; 14797400 | $82875709 |
| Tencent Holdings Ltd. | &nbsp;&nbsp; 8033400 | 370712929 |
|  |  | 583094587 |
| **Life Sciences Tools & Services — 0.2%** | **Life Sciences Tools & Services — 0.2%** | **Life Sciences Tools & Services — 0.2%** |
| WuXi AppTec Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 1737852 | 7109048 |
| **Machinery — 0.3%** | **Machinery — 0.3%** | **Machinery — 0.3%** |
| CRRC Corp. Ltd., Class H | &nbsp;&nbsp; 21103000 | 13076308 |
| **Marine Transportation — 0.5%** | **Marine Transportation — 0.5%** | **Marine Transportation — 0.5%** |
| COSCO Shipping Holdings Co. Ltd., Class H | &nbsp;&nbsp; 14783100 | 21111919 |
| **Metals & Mining — 1.8%** | **Metals & Mining — 1.8%** | **Metals & Mining — 1.8%** |
| CMOC Group Ltd., Class H | &nbsp;&nbsp; 20661000 | 16478364 |
| Zijin Mining Group Co. Ltd., Class H | &nbsp;&nbsp; 30152000 | 61159264 |
|  |  | 77637628 |
| **Oil, Gas & Consumable Fuels — 6.7%** | **Oil, Gas & Consumable Fuels — 6.7%** | **Oil, Gas & Consumable Fuels — 6.7%** |
| China Coal Energy Co. Ltd., Class H | &nbsp;&nbsp; 11005000 | 11149290 |
| China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp; 128096600 | 82095020 |
| China Shenhua Energy Co. Ltd., Class H | &nbsp;&nbsp; 17748500 | 73800216 |
| PetroChina Co. Ltd., Class H | &nbsp;&nbsp; 109344000 | 94951489 |
| Yankuang Energy Group Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 16294000 | 21268727 |
|  |  | 283264742 |
| **Real Estate Management & Development — 1.8%** | **Real Estate Management & Development — 1.8%** | **Real Estate Management & Development — 1.8%** |
| China Overseas Land & Investment Ltd. | &nbsp;&nbsp; 20087500 | 32474156 |
| China Resources Land Ltd. | &nbsp;&nbsp; 14464333 | 43235199 |
|  |  | 75709355 |
| **Specialty Retail — 0.1%** | **Specialty Retail — 0.1%** | **Specialty Retail — 0.1%** |
| China Tourism Group Duty Free Corp. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 572100 | 4042178 |
| **Technology Hardware, Storage & Peripherals — 3.8%** | **Technology Hardware, Storage & Peripherals — 3.8%** | **Technology Hardware, Storage & Peripherals — 3.8%** |
| Xiaomi Corp., Class B<sup>(a)(c)</sup> | &nbsp;&nbsp; 74597400 | 160222518 |
| **Textiles, Apparel & Luxury Goods — 1.4%** | **Textiles, Apparel & Luxury Goods — 1.4%** | **Textiles, Apparel & Luxury Goods — 1.4%** |
| ANTA Sports Products Ltd. | &nbsp;&nbsp; 6582200 | 58916201 |
| **Total Long-Term Investments — 97.6%** <br>**(Cost: $4,833,454,031)** | **Total Long-Term Investments — 97.6%** <br>**(Cost: $4,833,454,031)** | 4149898016 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.4%** | **Money Market Funds — 0.4%** | **Money Market Funds — 0.4%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 11228356 | 11232848 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 4100000 | 4100000 |
| **Total Short-Term Securities — 0.4%** <br>**(Cost: $15,331,157)** | **Total Short-Term Securities — 0.4%** <br>**(Cost: $15,331,157)** | 15332848 |
| **Total Investments — 98.0%** <br>**(Cost: $4,848,785,188)** | **Total Investments — 98.0%** <br>**(Cost: $4,848,785,188)** | 4165230864 |
| **Other Assets Less Liabilities — 2.0%** | **Other Assets Less Liabilities — 2.0%** | 84160865 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $4249391729 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® China Large-Cap ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $12275636 | $—<br> $(1024231 )<sup>(a)</sup><br>| &nbsp;&nbsp; $(17197)<br>| $(1360)<br>| $11232848 | 11228356 | $172949 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 8890000 | —<br> (4790000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 4100000 | 4100000 | 264188 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $(17197)<br>| $(1360)<br>| $15332848 |  | $437137 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| FTSE China H50 Index | &nbsp;&nbsp; 4258 | &nbsp;&nbsp; 08/29/24 | &nbsp;&nbsp; $98697 | &nbsp;&nbsp; $123806 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $123806 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $123806 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(7765476)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(7765476)<br>|
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(7010396)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(7010396)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $31022741 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® China Large-Cap ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4149898016 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4149898016 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 15332848 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 15332848 |
|  | &nbsp;&nbsp; $15332848 | &nbsp;&nbsp; $4149898016 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4165230864 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $123806 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $123806 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® MSCI China A ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Aerospace & Defense — 0.6%** | **Aerospace & Defense — 0.6%** | **Aerospace & Defense — 0.6%** |
| AECC Aero-Engine Control Co. Ltd., Class A | &nbsp;&nbsp; 63098 | $190809 |
| AECC Aviation Power Co. Ltd., Class A | &nbsp;&nbsp; 147498 | 811725 |
| Avicopter PLC, Class A | &nbsp;&nbsp; 39999 | 233672 |
| Kuang-Chi Technologies Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 105740 | 263994 |
|  |  | 1500200 |
| **Air Freight & Logistics — 0.7%** | **Air Freight & Logistics — 0.7%** | **Air Freight & Logistics — 0.7%** |
| SF Holding Co. Ltd., Class A | &nbsp;&nbsp; 273515 | 1327509 |
| YTO Express Group Co. Ltd., Class A | &nbsp;&nbsp; 189044 | 375389 |
| Yunda Holding Co. Ltd., Class A | &nbsp;&nbsp; 168400 | 172191 |
|  |  | 1875089 |
| **Automobile Components — 1.2%** | **Automobile Components — 1.2%** | **Automobile Components — 1.2%** |
| Bethel Automotive Safety Systems Co. Ltd. | &nbsp;&nbsp; 29680 | 172080 |
| Changzhou Xingyu Automotive Lighting Systems Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 14697 | 253664 |
| Fuyao Glass Industry Group Co. Ltd., Class A | &nbsp;&nbsp; 105000 | 654188 |
| Huayu Automotive Systems Co. Ltd., Class A | &nbsp;&nbsp; 168800 | 364293 |
| Huizhou Desay Sv Automotive Co. Ltd., Class A | &nbsp;&nbsp; 26400 | 349099 |
| Ningbo Joyson Electronic Corp., Class A | &nbsp;&nbsp; 84400 | 179736 |
| Ningbo Tuopu Group Co. Ltd., Class A | &nbsp;&nbsp; 91937 | 467254 |
| Sailun Group Co. Ltd., Class A | &nbsp;&nbsp; 189000 | 345224 |
| Shandong Linglong Tyre Co. Ltd., Class A | &nbsp;&nbsp; 84400 | 197737 |
| Shenzhen Kedali Industry Co. Ltd., Class A | &nbsp;&nbsp; 11200 | 122181 |
| Zhejiang Wanfeng Auto Wheel Co. Ltd., Class A | &nbsp;&nbsp; 126000 | 249408 |
|  |  | 3354864 |
| **Automobiles — 3.0%** | **Automobiles — 3.0%** | **Automobiles — 3.0%** |
| AIMA Technology Group Co. Ltd. | &nbsp;&nbsp; 42400 | 163952 |
| Anhui Jianghuai Automobile Group Corp. Ltd. | &nbsp;&nbsp; 126000 | 351259 |
| BAIC BluePark New Energy Technology Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 315000 | 417786 |
| Beiqi Foton Motor Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 462000 | 182645 |
| BYD Co. Ltd., Class A | &nbsp;&nbsp; 98673 | 3374845 |
| Chongqing Changan Automobile Co. Ltd., Class A | &nbsp;&nbsp; 462038 | 933927 |
| Great Wall Motor Co. Ltd. | &nbsp;&nbsp; 126089 | 412158 |
| Guangzhou Automobile Group Co. Ltd., Class A | &nbsp;&nbsp; 273200 | 311522 |
| SAIC Motor Corp. Ltd., Class A | &nbsp;&nbsp; 420406 | 854231 |
| Seres Group Co. Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 84000 | 927862 |
|  |  | 7930187 |
| **Banks — 11.9%** | **Banks — 11.9%** | **Banks — 11.9%** |
| Agricultural Bank of China Ltd., Class A | &nbsp;&nbsp; 4625400 | 2937340 |
| Bank of Beijing Co. Ltd., Class A | &nbsp;&nbsp; 1141000 | 841745 |
| Bank of Changsha Co. Ltd., Class A | &nbsp;&nbsp; 210000 | 218713 |
| Bank of Chengdu Co. Ltd., Class A | &nbsp;&nbsp; 210277 | 424747 |
| Bank of China Ltd., Class A | &nbsp;&nbsp; 1897800 | 1224246 |
| Bank of Communications Co. Ltd., Class A | &nbsp;&nbsp; 2123602 | 2163167 |
| Bank of Hangzhou Co. Ltd., Class A | &nbsp;&nbsp; 315488 | 588117 |
| Bank of Jiangsu Co. Ltd., Class A | &nbsp;&nbsp; 988600 | 1052482 |
| Bank of Nanjing Co. Ltd., Class A | &nbsp;&nbsp; 568280 | 793703 |
| Bank of Ningbo Co. Ltd., Class A | &nbsp;&nbsp; 361121 | 1075315 |
| Bank of Shanghai Co. Ltd., Class A | &nbsp;&nbsp; 777069 | 784045 |
| Bank of Suzhou Co. Ltd. | &nbsp;&nbsp; 189000 | 188322 |
| China Construction Bank Corp., Class A | &nbsp;&nbsp; 525300 | 541209 |
| China Everbright Bank Co. Ltd., Class A | &nbsp;&nbsp; 2520000 | 1102134 |
| China Merchants Bank Co. Ltd., Class A | &nbsp;&nbsp; 1135102 | 5140077 |
| China Minsheng Banking Corp. Ltd., Class A | &nbsp;&nbsp; 1911080 | 939673 |
| China Zheshang Bank Co. Ltd., Class A | &nbsp;&nbsp; 1155700 | 451308 |
| Chongqing Rural Commercial Bank Co. Ltd., Class A | &nbsp;&nbsp; 487130 | 348463 |
| CNPC Capital Co. Ltd., NVS | &nbsp;&nbsp; 462340 | 357264 |
| Huaxia Bank Co. Ltd., Class A | &nbsp;&nbsp; 722260 | 627762 |
| Industrial & Commercial Bank of China Ltd., Class A | &nbsp;&nbsp; 3425800 | 2774385 |
| Industrial Bank Co. Ltd., Class A | &nbsp;&nbsp; 1139547 | 2642339 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Ping An Bank Co. Ltd., Class A | &nbsp;&nbsp; 1050256 | $1494444 |
| Postal Savings Bank of China Co. Ltd., Class A | &nbsp;&nbsp; 1578200 | 1055021 |
| Shanghai Pudong Development Bank Co. Ltd., Class A | &nbsp;&nbsp; 1605120 | 1867399 |
| Shanghai Rural Commercial Bank Co. Ltd. | &nbsp;&nbsp; 525000 | 483869 |
|  |  | 32117289 |
| **Beverages — 9.1%** | **Beverages — 9.1%** | **Beverages — 9.1%** |
| Anhui Gujing Distillery Co. Ltd., Class A | &nbsp;&nbsp; 22099 | 575426 |
| Anhui Kouzi Distillery Co. Ltd., Class A | &nbsp;&nbsp; 29700 | 157011 |
| Anhui Yingjia Distillery Co. Ltd., Class A | &nbsp;&nbsp; 42000 | 303627 |
| Beijing Yanjing Brewery Co. Ltd., Class A | &nbsp;&nbsp; 168200 | 219494 |
| Chongqing Brewery Co. Ltd., Class A | &nbsp;&nbsp; 24995 | 214493 |
| Eastroc Beverage Group Co. Ltd. | &nbsp;&nbsp; 18600 | 600708 |
| Jiangsu King's Luck Brewery JSC Ltd., Class A | &nbsp;&nbsp; 63040 | 385574 |
| Jiangsu Yanghe Distillery Co. Ltd., Class A | &nbsp;&nbsp; 84200 | 953547 |
| Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp; 68389 | 13450246 |
| Luzhou Laojiao Co. Ltd., Class A | &nbsp;&nbsp; 78400 | 1418827 |
| Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A | &nbsp;&nbsp; 65881 | 1680932 |
| Shede Spirits Co. Ltd. | &nbsp;&nbsp; 21600 | 164068 |
| Sichuan Swellfun Co. Ltd., Class A | &nbsp;&nbsp; 25500 | 132378 |
| Tsingtao Brewery Co. Ltd., Class A | &nbsp;&nbsp; 42000 | 399393 |
| Wuliangye Yibin Co. Ltd., Class A | &nbsp;&nbsp; 210214 | 3694703 |
|  |  | 24350427 |
| **Biotechnology — 1.1%** | **Biotechnology — 1.1%** | **Biotechnology — 1.1%** |
| Beijing Tiantan Biological Products Corp. Ltd., Class A | &nbsp;&nbsp; 105360 | 363088 |
| Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 63037 | 601113 |
| Bloomage Biotechnology Corp. Ltd. | &nbsp;&nbsp; 27730 | 238024 |
| Chongqing Zhifei Biological Products Co. Ltd., Class A | &nbsp;&nbsp; 130300 | 511326 |
| Hualan Biological Engineering Inc., Class A | &nbsp;&nbsp; 106448 | 242997 |
| Imeik Technology Development Co. Ltd., Class A | &nbsp;&nbsp; 16520 | 402158 |
| Shanghai RAAS Blood Products Co. Ltd., Class A | &nbsp;&nbsp; 357000 | 380530 |
| Shenzhen Kangtai Biological Products Co. Ltd., Class A | &nbsp;&nbsp; 74956 | 165532 |
| Walvax Biotechnology Co. Ltd., Class A | &nbsp;&nbsp; 105098 | 168495 |
|  |  | 3073263 |
| **Broadline Retail — 0.1%** | **Broadline Retail — 0.1%** | **Broadline Retail — 0.1%** |
| Zhejiang China Commodities City Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 294000 | 314398 |
| **Building Products — 0.2%** | **Building Products — 0.2%** | **Building Products — 0.2%** |
| Beijing New Building Materials PLC, Class A | &nbsp;&nbsp; 84400 | 303636 |
| Zhejiang Weixing New Building Materials Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 84004 | 163009 |
|  |  | 466645 |
| **Capital Markets — 5.9%** | **Capital Markets — 5.9%** | **Capital Markets — 5.9%** |
| BOC International China Co. Ltd., Class A | &nbsp;&nbsp; 147000 | 191455 |
| Caitong Securities Co. Ltd., Class A | &nbsp;&nbsp; 252051 | 240446 |
| Changjiang Securities Co. Ltd., Class A | &nbsp;&nbsp; 315400 | 226284 |
| China Galaxy Securities Co. Ltd., Class A | &nbsp;&nbsp; 389000 | 586068 |
| China Great Wall Securities Co. Ltd., Class A | &nbsp;&nbsp; 231400 | 225257 |
| China International Capital Corp. Ltd., Class A | &nbsp;&nbsp; 127200 | 533432 |
| China Merchants Securities Co. Ltd., Class A | &nbsp;&nbsp; 399207 | 822445 |
| CITIC Securities Co. Ltd., Class A | &nbsp;&nbsp; 672270 | 1842170 |
| CSC Financial Co. Ltd., Class A | &nbsp;&nbsp; 231439 | 637160 |
| Dongxing Securities Co. Ltd., Class A | &nbsp;&nbsp; 189039 | 230108 |
| East Money Information Co. Ltd., Class A | &nbsp;&nbsp; 869139 | 1340284 |
| Everbright Securities Co. Ltd., Class A | &nbsp;&nbsp; 210400 | 442151 |
| First Capital Securities Co. Ltd., Class A | &nbsp;&nbsp; 231200 | 169464 |
| Founder Securities Co. Ltd., Class A | &nbsp;&nbsp; 462200 | 496691 |
| GF Securities Co. Ltd., Class A | &nbsp;&nbsp; 336400 | 585127 |
| Guangzhou Yuexiu Financial Holdings Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 231091 | 170627 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI China A ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** |
| Guolian Securities Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 126000 | $181267 |
| Guosen Securities Co. Ltd., Class A | &nbsp;&nbsp; 357600 | 437927 |
| Guotai Junan Securities Co. Ltd., Class A | &nbsp;&nbsp; 399445 | 794907 |
| Guoyuan Securities Co. Ltd., Class A | &nbsp;&nbsp; 231444 | 213226 |
| Haitong Securities Co. Ltd., Class A | &nbsp;&nbsp; 526600 | 661692 |
| Hithink RoyalFlush Information Network Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 25800 | 381813 |
| Huatai Securities Co. Ltd., Class A | &nbsp;&nbsp; 400200 | 736587 |
| Industrial Securities Co. Ltd., Class A | &nbsp;&nbsp; 465708 | 351973 |
| Nanjing Securities Co. Ltd., Class A | &nbsp;&nbsp; 210400 | 230033 |
| Orient Securities Co. Ltd., Class A | &nbsp;&nbsp; 407221 | 479299 |
| SDIC Capital Co. Ltd., Class A | &nbsp;&nbsp; 359400 | 299061 |
| Shenwan Hongyuan Group Co. Ltd., Class A | &nbsp;&nbsp; 1220400 | 774086 |
| Sinolink Securities Co. Ltd., Class A | &nbsp;&nbsp; 210400 | 229873 |
| SooChow Securities Co. Ltd., Class A | &nbsp;&nbsp; 274038 | 241175 |
| Southwest Securities Co. Ltd., Class A | &nbsp;&nbsp; 349600 | 190166 |
| Tianfeng Securities Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 471200 | 165023 |
| Western Securities Co. Ltd., Class A | &nbsp;&nbsp; 253220 | 229161 |
| Zheshang Securities Co. Ltd., Class A | &nbsp;&nbsp; 210427 | 338606 |
| Zhongtai Securities Co. Ltd. | &nbsp;&nbsp; 379400 | 317049 |
|  |  | 15992093 |
| **Chemicals — 4.8%** | **Chemicals — 4.8%** | **Chemicals — 4.8%** |
| Cathay Biotech Inc. | &nbsp;&nbsp; 24400 | 132734 |
| CNGR Advanced Material Co. Ltd. | &nbsp;&nbsp; 63360 | 262380 |
| Ganfeng Lithium Group Co. Ltd., Class A | &nbsp;&nbsp; 88870 | 346444 |
| Guangzhou Tinci Materials Technology Co. Ltd., Class A | &nbsp;&nbsp; 105020 | 228787 |
| Hangzhou Oxygen Plant Group Co. Ltd., Class A | &nbsp;&nbsp; 63000 | 169953 |
| Haohua Chemical Science & Technology Co. Ltd., NVS | &nbsp;&nbsp; 42400 | 165625 |
| Hengli Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 378615 | 732587 |
| Hengyi Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 210876 | 188823 |
| Hoshine Silicon Industry Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 42000 | 278148 |
| Huafon Chemical Co. Ltd., Class A | &nbsp;&nbsp; 273200 | 293062 |
| Inner Mongolia Junzheng Energy & Chemical Industry <br> Group Co. Ltd., Class A<br>| &nbsp;&nbsp; 462800 | 240341 |
| Inner Mongolia Yuan Xing Energy Co. Ltd., Class A | &nbsp;&nbsp; 214700 | 201551 |
| Jiangsu Eastern Shenghong Co. Ltd., Class A | &nbsp;&nbsp; 357200 | 392496 |
| Jiangsu Yangnong Chemical Co. Ltd., Class A | &nbsp;&nbsp; 21330 | 162562 |
| Jiangsu Yoke Technology Co. Ltd., Class A | &nbsp;&nbsp; 21000 | 172936 |
| LB Group Co. Ltd., Class A | &nbsp;&nbsp; 126009 | 300907 |
| Meihua Holdings Group Co. Ltd. | &nbsp;&nbsp; 148900 | 210071 |
| Ningbo Shanshan Co. Ltd. | &nbsp;&nbsp; 126000 | 134185 |
| Ningxia Baofeng Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 399200 | 830075 |
| Qinghai Salt Lake Industry Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 294250 | 633457 |
| Rongsheng Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 547801 | 688106 |
| Satellite Chemical Co. Ltd., Class A | &nbsp;&nbsp; 189077 | 457146 |
| Shandong Hualu Hengsheng Chemical Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 126860 | 435784 |
| Shanghai Putailai New Energy Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 114314 | 205772 |
| Shenzhen Capchem Technology Co. Ltd. | &nbsp;&nbsp; 42020 | 191573 |
| Sichuan Hebang Biotechnology Co. Ltd., Class A | &nbsp;&nbsp; 483000 | 114938 |
| Sinoma Science & Technology Co. Ltd., Class A | &nbsp;&nbsp; 105000 | 167054 |
| Sunresin New Materials Co. Ltd., NVS | &nbsp;&nbsp; 25000 | 137150 |
| Tianqi Lithium Corp., Class A | &nbsp;&nbsp; 84000 | 341399 |
| Tongkun Group Co. Ltd., Class A | &nbsp;&nbsp; 126897 | 246946 |
| Wanhua Chemical Group Co. Ltd., Class A | &nbsp;&nbsp; 168000 | 1803914 |
| Weihai Guangwei Composites Co. Ltd., Class A | &nbsp;&nbsp; 42052 | 164497 |
| Yunnan Energy New Material Co. Ltd., Class A | &nbsp;&nbsp; 46815 | 199874 |
| Yunnan Yuntianhua Co. Ltd. | &nbsp;&nbsp; 105000 | 285217 |
| Zangge Mining Co. Ltd. | &nbsp;&nbsp; 87400 | 278590 |
| Zhejiang Juhua Co. Ltd., Class A | &nbsp;&nbsp; 147400 | 403874 |
| Zhejiang Longsheng Group Co. Ltd., Class A | &nbsp;&nbsp; 189400 | 235772 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| Zhejiang NHU Co. Ltd., Class A | &nbsp;&nbsp; 169168 | $489327 |
|  |  | 12924057 |
| **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** |
| Shanghai M&G Stationery Inc., Class A | &nbsp;&nbsp; 63000 | 261317 |
| Zhejiang Weiming Environment Protection Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 84353 | 223897 |
|  |  | 485214 |
| **Communications Equipment — 1.2%** | **Communications Equipment — 1.2%** | **Communications Equipment — 1.2%** |
| Guangzhou Haige Communications Group Inc. Co., <br> Class A<br>| &nbsp;&nbsp; 147000 | 203172 |
| Hengtong Optic-Electric Co. Ltd., Class A | &nbsp;&nbsp; 131900 | 284216 |
| Suzhou TFC Optical Communication Co. Ltd. | &nbsp;&nbsp; 29680 | 415973 |
| Yealink Network Technology Corp. Ltd., Class A | &nbsp;&nbsp; 63077 | 294429 |
| Zhongji Innolight Co. Ltd., Class A | &nbsp;&nbsp; 63043 | 1148273 |
| ZTE Corp., Class A | &nbsp;&nbsp; 217200 | 827393 |
|  |  | 3173456 |
| **Construction & Engineering — 2.1%** | **Construction & Engineering — 2.1%** | **Construction & Engineering — 2.1%** |
| China Energy Engineering Corp. Ltd. | &nbsp;&nbsp; 1744900 | 533823 |
| China National Chemical Engineering Co. Ltd., Class A | &nbsp;&nbsp; 336210 | 348860 |
| China Railway Group Ltd., Class A | &nbsp;&nbsp; 1113200 | 958833 |
| China State Construction Engineering Corp. Ltd., <br> Class A<br>| &nbsp;&nbsp; 2268400 | 1753002 |
| CSSC Science & Technology Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 85600 | 157703 |
| Metallurgical Corp. of China Ltd., Class A | &nbsp;&nbsp; 968000 | 423834 |
| Power Construction Corp. of China Ltd., Class A | &nbsp;&nbsp; 945200 | 719799 |
| Shanghai Construction Group Co. Ltd., Class A | &nbsp;&nbsp; 484200 | 156816 |
| Sichuan Road & Bridge Group Co. Ltd., Class A | &nbsp;&nbsp; 391100 | 341061 |
| Sinoma International Engineering Co. | &nbsp;&nbsp; 148000 | 208699 |
|  |  | 5602430 |
| **Construction Materials — 0.4%** | **Construction Materials — 0.4%** | **Construction Materials — 0.4%** |
| Anhui Conch Cement Co. Ltd., Class A | &nbsp;&nbsp; 210400 | 703978 |
| Beijing Oriental Yuhong Waterproof Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 84000 | 150939 |
| China Jushi Co. Ltd., Class A | &nbsp;&nbsp; 231350 | 340322 |
|  |  | 1195239 |
| **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** |
| DaShenLin Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp; 64831 | 118040 |
| Yifeng Pharmacy Chain Co. Ltd., Class A | &nbsp;&nbsp; 63239 | 183346 |
|  |  | 301386 |
| **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** | **Containers & Packaging — 0.1%** |
| Shenzhen YUTO Packaging Technology Co. Ltd. | &nbsp;&nbsp; 42000 | 135781 |
| **Distributors — 0.1%** | **Distributors — 0.1%** | **Distributors — 0.1%** |
| Wuchan Zhongda Group Co. Ltd., Class A | &nbsp;&nbsp; 294414 | 177639 |
| **Electrical Equipment — 5.1%** | **Electrical Equipment — 5.1%** | **Electrical Equipment — 5.1%** |
| China XD Electric Co. Ltd., NVS | &nbsp;&nbsp; 273200 | 271200 |
| Contemporary Amperex Technology Co. Ltd., Class A | &nbsp;&nbsp; 237467 | 6120574 |
| Dongfang Electric Corp. Ltd., Class A | &nbsp;&nbsp; 147490 | 333809 |
| Eve Energy Co. Ltd., Class A | &nbsp;&nbsp; 106182 | 564923 |
| Ginlong Technologies Co. Ltd., Class A | &nbsp;&nbsp; 21100 | 186537 |
| Goldwind Science & Technology Co Ltd., Class A | &nbsp;&nbsp; 190851 | 211665 |
| Gongniu Group Co. Ltd. | &nbsp;&nbsp; 30765 | 298525 |
| Gotion High-tech Co. Ltd., Class A | &nbsp;&nbsp; 106500 | 288510 |
| Jiangsu Zhongtian Technology Co. Ltd., Class A | &nbsp;&nbsp; 189600 | 393084 |
| NARI Technology Co. Ltd., Class A | &nbsp;&nbsp; 441088 | 1466073 |
| Ningbo Orient Wires & Cables Co. Ltd. | &nbsp;&nbsp; 42000 | 297118 |
| Ningbo Sanxing Medical Electric Co. Ltd. | &nbsp;&nbsp; 77000 | 313892 |
| Shanghai Electric Group Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 673650 | 360996 |
| Shanghai Moons' Electric Co. Ltd. | &nbsp;&nbsp; 21000 | 116560 |
| Sieyuan Electric Co. Ltd. | &nbsp;&nbsp; 42800 | 393411 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI China A ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Electrical Equipment (continued)** | **Electrical Equipment (continued)** | **Electrical Equipment (continued)** |
| Sungrow Power Supply Co. Ltd., Class A | &nbsp;&nbsp; 110720 | $1057227 |
| Sunwoda Electronic Co. Ltd., Class A | &nbsp;&nbsp; 105299 | 250547 |
| TBEA Co. Ltd., Class A | &nbsp;&nbsp; 273720 | 513361 |
| Zhejiang Chint Electrics Co. Ltd., Class A | &nbsp;&nbsp; 126000 | 336245 |
|  |  | 13774257 |
| **Electronic Equipment, Instruments & Components — 5.6%** | **Electronic Equipment, Instruments & Components — 5.6%** | **Electronic Equipment, Instruments & Components — 5.6%** |
| Accelink Technologies Co. Ltd., Class A | &nbsp;&nbsp; 42000 | 198868 |
| Avary Holding Shenzhen Co. Ltd., Class A | &nbsp;&nbsp; 126000 | 651778 |
| BOE Technology Group Co. Ltd., Class A | &nbsp;&nbsp; 2019228 | 1102932 |
| Chaozhou Three-Circle Group Co. Ltd., Class A | &nbsp;&nbsp; 105600 | 479298 |
| China Railway Signal & Communication Corp. Ltd., <br> Class A<br>| &nbsp;&nbsp; 384781 | 311581 |
| China Zhenhua Group Science & Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 28100 | 157971 |
| Eoptolink Technology Inc. Ltd. | &nbsp;&nbsp; 42000 | 588028 |
| Everdisplay Optronics Shanghai Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 630000 | 177038 |
| Foxconn Industrial Internet Co. Ltd., Class A | &nbsp;&nbsp; 714206 | 2400265 |
| GoerTek Inc., Class A | &nbsp;&nbsp; 189804 | 566841 |
| Guangzhou Shiyuan Electronic Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 42667 | 175596 |
| Hengdian Group DMEGC Magnetics Co. Ltd. | &nbsp;&nbsp; 105200 | 177975 |
| Huagong Tech Co. Ltd., Class A | &nbsp;&nbsp; 63000 | 253158 |
| Lens Technology Co. Ltd., Class A | &nbsp;&nbsp; 273000 | 676191 |
| Lingyi iTech Guangdong Co., Class A | &nbsp;&nbsp; 380000 | 379906 |
| Luxshare Precision Industry Co. Ltd., Class A | &nbsp;&nbsp; 400268 | 2126714 |
| Maxscend Microelectronics Co. Ltd., Class A | &nbsp;&nbsp; 28256 | 302631 |
| OFILM Group Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 168000 | 193248 |
| Shanghai BOCHU Electronic Technology Corp. Ltd., <br> Class A<br>| &nbsp;&nbsp; 10939 | 221786 |
| Shengyi Technology Co. Ltd., Class A | &nbsp;&nbsp; 126482 | 342355 |
| Shennan Circuits Co. Ltd., Class A | &nbsp;&nbsp; 25667 | 394185 |
| SUPCON Technology Co. Ltd. | &nbsp;&nbsp; 42028 | 219930 |
| Suzhou Dongshan Precision Manufacturing Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 91100 | 315253 |
| TCL Technology Group Corp., Class A | &nbsp;&nbsp; 1009081 | 547882 |
| Unisplendour Corp. Ltd., Class A | &nbsp;&nbsp; 150091 | 484095 |
| Universal Scientific Industrial Shanghai Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 105300 | 235238 |
| Wingtech Technology Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 68911 | 285799 |
| Wuhan Guide Infrared Co. Ltd., Class A | &nbsp;&nbsp; 231204 | 202896 |
| WUS Printed Circuit Kunshan Co. Ltd., Class A | &nbsp;&nbsp; 105090 | 489365 |
| Xiamen Faratronic Co. Ltd. | &nbsp;&nbsp; 9200 | 110440 |
| Zhejiang Dahua Technology Co. Ltd., Class A | &nbsp;&nbsp; 191500 | 398323 |
|  |  | 15167566 |
| **Energy Equipment & Services — 0.2%** | **Energy Equipment & Services — 0.2%** | **Energy Equipment & Services — 0.2%** |
| CNOOC Energy Technology & Services Ltd. | &nbsp;&nbsp; 358874 | 191820 |
| Offshore Oil Engineering Co. Ltd., Class A | &nbsp;&nbsp; 232668 | 177135 |
| Yantai Jereh Oilfield Services Group Co. Ltd., Class A | &nbsp;&nbsp; 63085 | 274651 |
|  |  | 643606 |
| **Entertainment — 0.6%** | **Entertainment — 0.6%** | **Entertainment — 0.6%** |
| 37 Interactive Entertainment Network Technology Group <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 126293 | 231358 |
| Beijing Enlight Media Co. Ltd., Class A | &nbsp;&nbsp; 168000 | 179638 |
| China Film Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 105000 | 156134 |
| Kingnet Network Co. Ltd. | &nbsp;&nbsp; 126000 | 164613 |
| Kunlun Tech Co. Ltd., Class A | &nbsp;&nbsp; 63200 | 264615 |
| Mango Excellent Media Co. Ltd., Class A | &nbsp;&nbsp; 107380 | 306183 |
| Wanda Film Holding Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 126000 | 194812 |
| Zhejiang Century Huatong Group Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 421082 | 191283 |
|  |  | 1688636 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Financial Services — 0.1%** | **Financial Services — 0.1%** | **Financial Services — 0.1%** |
| AVIC Industry-Finance Holdings Co. Ltd., Class A | &nbsp;&nbsp; 483001 | $161157 |
| **Food Products — 2.9%** | **Food Products — 2.9%** | **Food Products — 2.9%** |
| Angel Yeast Co. Ltd., Class A | &nbsp;&nbsp; 45896 | 190346 |
| Anjoy Foods Group Co. Ltd., Class A | &nbsp;&nbsp; 11800 | 129813 |
| Foshan Haitian Flavouring & Food Co. Ltd., Class A | &nbsp;&nbsp; 252079 | 1226514 |
| Guangdong Haid Group Co. Ltd., Class A | &nbsp;&nbsp; 84099 | 511395 |
| Hebei Yangyuan Zhihui Beverage Co. Ltd., Class A | &nbsp;&nbsp; 63200 | 185090 |
| Heilongjiang Agriculture Co. Ltd., Class A | &nbsp;&nbsp; 105400 | 190747 |
| Henan Shuanghui Investment & Development Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 189400 | 604828 |
| Inner Mongolia Yili Industrial Group Co. Ltd., Class A | &nbsp;&nbsp; 357800 | 1243411 |
| Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 42262 | 115011 |
| Muyuan Foods Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 294359 | 1781877 |
| New Hope Liuhe Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 252500 | 331181 |
| Wens Foodstuffs Group Co. Ltd., Class A | &nbsp;&nbsp; 358646 | 989909 |
| Yihai Kerry Arawana Holdings Co. Ltd., Class A | &nbsp;&nbsp; 84800 | 321484 |
|  |  | 7821606 |
| **Gas Utilities — 0.2%** | **Gas Utilities — 0.2%** | **Gas Utilities — 0.2%** |
| ENN Natural Gas Co. Ltd., Class A | &nbsp;&nbsp; 148200 | 402221 |
| **Ground Transportation — 1.1%** | **Ground Transportation — 1.1%** | **Ground Transportation — 1.1%** |
| Beijing-Shanghai High Speed Railway Co. Ltd., Class A | &nbsp;&nbsp; 2670600 | 2115391 |
| Daqin Railway Co. Ltd., Class A | &nbsp;&nbsp; 945200 | 911928 |
|  |  | 3027319 |
| **Health Care Equipment & Supplies — 1.5%** | **Health Care Equipment & Supplies — 1.5%** | **Health Care Equipment & Supplies — 1.5%** |
| Autobio Diagnostics Co. Ltd., Class A | &nbsp;&nbsp; 27000 | 157425 |
| Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 63600 | 327534 |
| Lepu Medical Technology Beijing Co. Ltd., Class A | &nbsp;&nbsp; 105400 | 191416 |
| Shanghai United Imaging Healthcare Co. Ltd., NVS | &nbsp;&nbsp; 42972 | 691422 |
| Shenzhen Mindray Bio-Medical Electronics Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 65434 | 2330925 |
| Shenzhen New Industries Biomedical Engineering Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 42000 | 361166 |
|  |  | 4059888 |
| **Health Care Providers & Services — 0.9%** | **Health Care Providers & Services — 0.9%** | **Health Care Providers & Services — 0.9%** |
| Aier Eye Hospital Group Co. Ltd., Class A | &nbsp;&nbsp; 526781 | 807205 |
| China National Medicines Corp. Ltd., Class A | &nbsp;&nbsp; 42400 | 197899 |
| Guangzhou Baiyunshan Pharmaceutical Holdings Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 84400 | 341974 |
| Guangzhou Kingmed Diagnostics Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 24797 | 99823 |
| Huadong Medicine Co. Ltd., Class A | &nbsp;&nbsp; 105425 | 425838 |
| Jointown Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp; 272292 | 173962 |
| Shanghai Pharmaceuticals Holding Co. Ltd., Class A | &nbsp;&nbsp; 147409 | 395784 |
|  |  | 2442485 |
| **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** |
| Shanghai Jinjiang International Hotels Co. Ltd., Class A | &nbsp;&nbsp; 48000 | 159735 |
| Songcheng Performance Development Co. Ltd., Class A | &nbsp;&nbsp; 147072 | 166408 |
|  |  | 326143 |
| **Household Durables — 2.1%** | **Household Durables — 2.1%** | **Household Durables — 2.1%** |
| Beijing Roborock Technology Co. Ltd., Class A | &nbsp;&nbsp; 6985 | 304189 |
| Ecovacs Robotics Co. Ltd., Class A | &nbsp;&nbsp; 43000 | 245188 |
| Gree Electric Appliances Inc. of Zhuhai, Class A | &nbsp;&nbsp; 150900 | 836044 |
| Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp; 336800 | 1272545 |
| Hang Zhou Great Star Industrial Co. Ltd., Class A | &nbsp;&nbsp; 63000 | 212607 |
| Hangzhou Robam Appliances Co. Ltd., Class A | &nbsp;&nbsp; 55864 | 167752 |
| Hisense Home Appliances Group Co. Ltd. | &nbsp;&nbsp; 42000 | 173016 |
| Hisense Visual Technology Co. Ltd. | &nbsp;&nbsp; 63000 | 154964 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI China A ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Household Durables (continued)** | **Household Durables (continued)** | **Household Durables (continued)** |
| Jason Furniture Hangzhou Co. Ltd., Class A | &nbsp;&nbsp; 42020 | $147626 |
| Midea Group Co. Ltd., Class A | &nbsp;&nbsp; 189000 | 1667516 |
| Oppein Home Group Inc., Class A | &nbsp;&nbsp; 24483 | 154139 |
| Sichuan Changhong Electric Co. Ltd. | &nbsp;&nbsp; 256800 | 160971 |
| Zhejiang Supor Co. Ltd., Class A | &nbsp;&nbsp; 24898 | 173114 |
|  |  | 5669671 |
| **Independent Power and Renewable Electricity Producers — 5.1%** | **Independent Power and Renewable Electricity Producers — 5.1%** | **Independent Power and Renewable Electricity Producers — 5.1%** |
| CGN Power Co. Ltd. | &nbsp;&nbsp; 849500 | 550318 |
| China National Nuclear Power Co. Ltd., Class A | &nbsp;&nbsp; 1029047 | 1571996 |
| China Three Gorges Renewables Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 1554200 | 1045739 |
| China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp; 1344288 | 5556309 |
| Datang International Power Generation Co. Ltd. | &nbsp;&nbsp; 651000 | 269742 |
| GD Power Development Co. Ltd., Class A | &nbsp;&nbsp; 966000 | 743457 |
| Huadian Power International Corp. Ltd., Class A | &nbsp;&nbsp; 462200 | 386977 |
| Huaneng Power International Inc., Class A | &nbsp;&nbsp; 505200 | 555949 |
| SDIC Power Holdings Co. Ltd., Class A | &nbsp;&nbsp; 399000 | 938362 |
| Shanghai Electric Power Co. Ltd., Class A | &nbsp;&nbsp; 147000 | 191398 |
| Shenergy Co. Ltd., Class A | &nbsp;&nbsp; 253400 | 293032 |
| Shenzhen Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 252406 | 236000 |
| Sichuan Chuantou Energy Co. Ltd., Class A | &nbsp;&nbsp; 273200 | 708309 |
| Wintime Energy Group Co. Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 1206400 | 183942 |
| Zhejiang Zheneng Electric Power Co. Ltd., Class A | &nbsp;&nbsp; 609400 | 559268 |
|  |  | 13790798 |
| **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** |
| China Baoan Group Co. Ltd., Class A | &nbsp;&nbsp; 147400 | 172072 |
| **Insurance — 2.5%** | **Insurance — 2.5%** | **Insurance — 2.5%** |
| China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp; 147800 | 658727 |
| China Pacific Insurance Group Co. Ltd., Class A | &nbsp;&nbsp; 378016 | 1546918 |
| New China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp; 105800 | 468201 |
| People's Insurance Co. Group of China Ltd. (The), <br> Class A<br>| &nbsp;&nbsp; 526300 | 417455 |
| Ping An Insurance Group Co. of China Ltd., Class A | &nbsp;&nbsp; 595223 | 3508404 |
|  |  | 6599705 |
| **IT Services — 0.2%** | **IT Services — 0.2%** | **IT Services — 0.2%** |
| Isoftstone Information Technology Group Co. Ltd., NVS | &nbsp;&nbsp; 63050 | 301314 |
| Range Intelligent Computing Technology Group Co. Ltd. | &nbsp;&nbsp; 85600 | 268073 |
|  |  | 569387 |
| **Life Sciences Tools & Services — 0.5%** | **Life Sciences Tools & Services — 0.5%** | **Life Sciences Tools & Services — 0.5%** |
| Hangzhou Tigermed Consulting Co. Ltd., Class A | &nbsp;&nbsp; 21004 | 155815 |
| MGI Tech Co. Ltd., NVS | &nbsp;&nbsp; 15111 | 93253 |
| Pharmaron Beijing Co. Ltd., Class A | &nbsp;&nbsp; 84050 | 257475 |
| WuXi AppTec Co. Ltd., Class A | &nbsp;&nbsp; 131448 | 773193 |
|  |  | 1279736 |
| **Machinery — 3.2%** | **Machinery — 3.2%** | **Machinery — 3.2%** |
| China CSSC Holdings Ltd., Class A | &nbsp;&nbsp; 252000 | 1430929 |
| CRRC Corp. Ltd., Class A | &nbsp;&nbsp; 1327190 | 1402643 |
| FAW Jiefang Group Co. Ltd., Class A | &nbsp;&nbsp; 168000 | 196971 |
| Jiangsu Hengli Hydraulic Co. Ltd., Class A | &nbsp;&nbsp; 68524 | 434427 |
| Ningbo Deye Technology Co. Ltd., NVS | &nbsp;&nbsp; 29764 | 400023 |
| Sany Heavy Industry Co. Ltd., Class A | &nbsp;&nbsp; 463050 | 1035030 |
| Shandong Himile Mechanical Science & Technology <br> Co. Ltd.<br>| &nbsp;&nbsp; 42000 | 213817 |
| Shenzhen Inovance Technology Co. Ltd., Class A | &nbsp;&nbsp; 68461 | 441732 |
| Tian Di Science & Technology Co. Ltd., Class A | &nbsp;&nbsp; 231000 | 185777 |
| Weichai Power Co. Ltd., Class A | &nbsp;&nbsp; 378000 | 723388 |
| XCMG Construction Machinery Co. Ltd., Class A | &nbsp;&nbsp; 652000 | 591880 |
| Yutong Bus Co. Ltd., Class A | &nbsp;&nbsp; 126200 | 391469 |
| Zhejiang Dingli Machinery Co. Ltd., Class A | &nbsp;&nbsp; 21498 | 156305 |
| Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A | &nbsp;&nbsp; 105100 | 268607 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| Zhuzhou CRRC Times Electric Co. Ltd., NVS | &nbsp;&nbsp; 42069 | $317037 |
| Zoomlion Heavy Industry Science and Technology Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 379550 | 353778 |
|  |  | 8543813 |
| **Marine Transportation — 0.5%** | **Marine Transportation — 0.5%** | **Marine Transportation — 0.5%** |
| COSCO Shipping Holdings Co. Ltd., Class A | &nbsp;&nbsp; 696450 | 1269172 |
| **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** |
| Focus Media Information Technology Co. Ltd., Class A | &nbsp;&nbsp; 798060 | 640253 |
| Jiangsu Phoenix Publishing & Media Corp. Ltd. | &nbsp;&nbsp; 147000 | 210437 |
| Oriental Pearl Group Co. Ltd., Class A | &nbsp;&nbsp; 189000 | 166248 |
| People.cn Co. Ltd. | &nbsp;&nbsp; 63000 | 172508 |
|  |  | 1189446 |
| **Metals & Mining — 5.4%** | **Metals & Mining — 5.4%** | **Metals & Mining — 5.4%** |
| Aluminum Corp. of China Ltd., Class A | &nbsp;&nbsp; 715116 | 683270 |
| Baoshan Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp; 1220870 | 1148900 |
| Chifeng Jilong Gold Mining Co. Ltd., Class A | &nbsp;&nbsp; 84000 | 229152 |
| China Northern Rare Earth Group High-Tech Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 198300 | 480630 |
| China Rare Earth Resources & Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 63000 | 206677 |
| Citic Pacific Special Steel Group Co. Ltd. | &nbsp;&nbsp; 189000 | 325539 |
| CMOC Group Ltd., Class A | &nbsp;&nbsp; 966200 | 1002748 |
| GEM Co. Ltd., Class A | &nbsp;&nbsp; 296096 | 253704 |
| Guangdong HEC Technology Holding Co. Ltd., Class A | &nbsp;&nbsp; 168200 | 161477 |
| Henan Shenhuo Coal Industry & Electricity Power <br> Co. Ltd.<br>| &nbsp;&nbsp; 126000 | 287202 |
| Hesteel Co. Ltd., Class A | &nbsp;&nbsp; 546600 | 146922 |
| Huaibei Mining Holdings Co. Ltd. | &nbsp;&nbsp; 147000 | 303388 |
| Hunan Valin Steel Co. Ltd., Class A | &nbsp;&nbsp; 381140 | 245457 |
| Inner Mongolia BaoTou Steel Union Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2462400 | 498090 |
| JCHX Mining Management Co. Ltd. | &nbsp;&nbsp; 42000 | 240396 |
| Jiangxi Copper Co. Ltd., Class A | &nbsp;&nbsp; 105400 | 313730 |
| Jinduicheng Molybdenum Co. Ltd., Class A | &nbsp;&nbsp; 168600 | 246698 |
| Nanjing Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp; 336000 | 209294 |
| Pangang Group Vanadium Titanium & Resources Co. <br> Ltd., Class A<sup>(a)</sup><br>| &nbsp;&nbsp; 504400 | 169091 |
| Shandong Gold Mining Co. Ltd., Class A | &nbsp;&nbsp; 189428 | 775318 |
| Shandong Nanshan Aluminum Co. Ltd., Class A | &nbsp;&nbsp; 651800 | 327042 |
| Shanxi Meijin Energy Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 231600 | 141276 |
| Shanxi Taigang Stainless Steel Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 315400 | 156750 |
| Sinomine Resource Group Co. Ltd., Class A | &nbsp;&nbsp; 42292 | 157761 |
| Tianshan Aluminum Group Co. Ltd., Class A | &nbsp;&nbsp; 255100 | 242980 |
| Tongling Nonferrous Metals Group Co. Ltd., Class A | &nbsp;&nbsp; 705300 | 308328 |
| Western Mining Co. Ltd., Class A | &nbsp;&nbsp; 126000 | 282107 |
| Western Superconducting Technologies Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 40099 | 214320 |
| Xiamen Tungsten Co. Ltd., Class A | &nbsp;&nbsp; 84498 | 199030 |
| Yintai Gold Co. Ltd., Class A | &nbsp;&nbsp; 159520 | 394657 |
| YongXing Special Materials Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 30540 | 141572 |
| Yunnan Aluminium Co. Ltd., Class A | &nbsp;&nbsp; 189200 | 316704 |
| Yunnan Chihong Zinc&Germanium Co. Ltd. | &nbsp;&nbsp; 273000 | 204560 |
| Yunnan Tin Co. Ltd., Class A | &nbsp;&nbsp; 84000 | 163814 |
| Zhejiang Huayou Cobalt Co. Ltd., Class A | &nbsp;&nbsp; 88712 | 288600 |
| Zhongjin Gold Corp. Ltd., Class A | &nbsp;&nbsp; 273000 | 610647 |
| Zijin Mining Group Co. Ltd., Class A | &nbsp;&nbsp; 1114800 | 2572253 |
|  |  | 14650084 |
| **Oil, Gas & Consumable Fuels — 3.7%** | **Oil, Gas & Consumable Fuels — 3.7%** | **Oil, Gas & Consumable Fuels — 3.7%** |
| China Merchants Energy Shipping Co. Ltd., Class A | &nbsp;&nbsp; 445600 | 481110 |
| China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp; 1764243 | 1584140 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI China A ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| China Shenhua Energy Co. Ltd., Class A | &nbsp;&nbsp; 357499 | $1967258 |
| COSCO Shipping Energy Transportation Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 189049 | 402995 |
| Guanghui Energy Co. Ltd., Class A | &nbsp;&nbsp; 358183 | 302153 |
| Inner Mongolia Dian Tou Energy Corp. Ltd.  | &nbsp;&nbsp; 126000 | 329953 |
| Jizhong Energy Resources Co. Ltd.  | &nbsp;&nbsp; 189000 | 148337 |
| PetroChina Co. Ltd., Class A | &nbsp;&nbsp; 1168300 | 1448453 |
| Pingdingshan Tianan Coal Mining Co. Ltd.  | &nbsp;&nbsp; 126000 | 183132 |
| Shaanxi Coal Industry Co. Ltd., Class A | &nbsp;&nbsp; 526601 | 1703927 |
| Shan Xi Hua Yang Group New Energy Co. Ltd.  | &nbsp;&nbsp; 189000 | 187579 |
| Shanxi Coking Coal Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 315060 | 361283 |
| Shanxi Lu'an Environmental Energy Development Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 168540 | 363114 |
| Yankuang Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 273085 | 567013 |
|  |  | 10030447 |
| **Paper & Forest Products — 0.1%** | **Paper & Forest Products — 0.1%** | **Paper & Forest Products — 0.1%** |
| Shandong Sun Paper Industry JSC Ltd., Class A | &nbsp;&nbsp; 147400 | 279174 |
| **Passenger Airlines — 1.0%** | **Passenger Airlines — 1.0%** | **Passenger Airlines — 1.0%** |
| Air China Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 630200 | 636095 |
| China Eastern Airlines Corp. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 927600 | 512343 |
| China Southern Airlines Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 612224 | 501996 |
| Hainan Airlines Holding Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2310400 | 351657 |
| Juneyao Airlines Co. Ltd., Class A | &nbsp;&nbsp; 117700 | 185484 |
| Spring Airlines Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 51100 | 383277 |
|  |  | 2570852 |
| **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** |
| By-health Co. Ltd., Class A | &nbsp;&nbsp; 105000 | 197047 |
| Yunnan Botanee Bio-Technology Group Co. Ltd. | &nbsp;&nbsp; 21800 | 146160 |
|  |  | 343207 |
| **Pharmaceuticals — 3.0%** | **Pharmaceuticals — 3.0%** | **Pharmaceuticals — 3.0%** |
| Asymchem Laboratories Tianjin Co. Ltd., Class A | &nbsp;&nbsp; 21280 | 218365 |
| Beijing Tongrentang Co. Ltd., Class A | &nbsp;&nbsp; 73500 | 379637 |
| Changchun High-Tech Industry Group Co. Ltd., Class A | &nbsp;&nbsp; 22740 | 298629 |
| China Resources Sanjiu Medical & Pharmaceutical Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 63600 | 363414 |
| CSPC Innovation Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 84040 | 285061 |
| Dong-E-E-Jiao Co. Ltd., Class A | &nbsp;&nbsp; 42000 | 284232 |
| Hubei Jumpcan Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp; 63000 | 278012 |
| Humanwell Healthcare Group Co. Ltd., Class A | &nbsp;&nbsp; 84000 | 231890 |
| Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp; 358242 | 2092474 |
| Jiangsu Nhwa Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp; 63000 | 224243 |
| Joincare Pharmaceutical Group Industry Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 105400 | 154026 |
| Livzon Pharmaceutical Group Inc., Class A | &nbsp;&nbsp; 42000 | 213705 |
| Shanghai Fosun Pharmaceutical Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 126063 | 411249 |
| Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp; 63500 | 255143 |
| Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp; 84460 | 185035 |
| Sichuan Kelun Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp; 84400 | 350774 |
| Yunnan Baiyao Group Co. Ltd., Class A | &nbsp;&nbsp; 90060 | 629861 |
| Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 32299 | 950926 |
| Zhejiang Huahai Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp; 84204 | 199814 |
|  |  | 8006490 |
| **Real Estate Management & Development — 1.1%** | **Real Estate Management & Development — 1.1%** | **Real Estate Management & Development — 1.1%** |
| China Merchants Shekou Industrial Zone Holdings Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 486500 | 592293 |
| China Vanke Co. Ltd., Class A | &nbsp;&nbsp; 510800 | 501558 |
| Hainan Airport Infrastructure Co. Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 651400 | 308487 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** |
| Poly Developments and Holdings Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 652531 | $796401 |
| Shanghai Lingang Holdings Corp. Ltd., Class A | &nbsp;&nbsp; 126423 | 167802 |
| Shanghai Zhangjiang High-Tech Park Development Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 85600 | 232352 |
| Youngor Fashion Co. Ltd., Class A | &nbsp;&nbsp; 252094 | 249631 |
|  |  | 2848524 |
| **Semiconductors & Semiconductor Equipment — 5.7%** | **Semiconductors & Semiconductor Equipment — 5.7%** | **Semiconductors & Semiconductor Equipment — 5.7%** |
| ACM Research Shanghai Inc. | &nbsp;&nbsp; 15863 | 199489 |
| Advanced Micro-Fabrication Equipment Inc./China, <br> Class A<br>| &nbsp;&nbsp; 34737 | 757256 |
| Amlogic Shanghai Co. Ltd. | &nbsp;&nbsp; 17347 | 158735 |
| Cambricon Technologies Corp. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 22613 | 827256 |
| China Resources Microelectronics Ltd. | &nbsp;&nbsp; 67683 | 372677 |
| Flat Glass Group Co. Ltd., Class A | &nbsp;&nbsp; 105400 | 275697 |
| GalaxyCore Inc., NVS | &nbsp;&nbsp; 127889 | 213018 |
| GigaDevice Semiconductor Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 33057 | 394384 |
| Hangzhou First Applied Material Co. Ltd., Class A | &nbsp;&nbsp; 135254 | 291105 |
| Hangzhou Silan Microelectronics Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 89500 | 267235 |
| Hwatsing Technology Co. Ltd., NVS | &nbsp;&nbsp; 9238 | 184426 |
| Hygon Information Technology Co. Ltd., NVS | &nbsp;&nbsp; 127010 | 1399633 |
| Ingenic Semiconductor Co. Ltd., Class A | &nbsp;&nbsp; 23600 | 182858 |
| JA Solar Technology Co. Ltd., Class A | &nbsp;&nbsp; 189080 | 282755 |
| JCET Group Co. Ltd., Class A | &nbsp;&nbsp; 105000 | 486801 |
| Jiangsu Pacific Quartz Co. Ltd., NVS | &nbsp;&nbsp; 32600 | 128653 |
| Jinko Solar Co. Ltd. | &nbsp;&nbsp; 474611 | 481025 |
| LONGi Green Energy Technology Co. Ltd., Class A | &nbsp;&nbsp; 420046 | 844418 |
| Montage Technology Co. Ltd., Class A | &nbsp;&nbsp; 57564 | 475401 |
| National Silicon Industry Group Co. Ltd., Class A | &nbsp;&nbsp; 168400 | 358509 |
| NAURA Technology Group Co. Ltd., Class A | &nbsp;&nbsp; 29100 | 1382001 |
| Piotech Inc., NVS | &nbsp;&nbsp; 15574 | 275994 |
| Rockchip Electronics Co. Ltd. | &nbsp;&nbsp; 21600 | 185141 |
| Sanan Optoelectronics Co. Ltd., Class A | &nbsp;&nbsp; 273000 | 450358 |
| SG Micro Corp., Class A | &nbsp;&nbsp; 25895 | 283095 |
| Shanghai Aiko Solar Energy Co. Ltd. | &nbsp;&nbsp; 105000 | 137184 |
| Shenzhen Goodix Technology Co. Ltd., Class A | &nbsp;&nbsp; 21400 | 186133 |
| StarPower Semiconductor Ltd., Class A | &nbsp;&nbsp; 9940 | 125427 |
| Suzhou Maxwell Technologies Co. Ltd., Class A | &nbsp;&nbsp; 15056 | 216914 |
| TCL Zhonghuan Renewable Energy Technology Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 241123 | 291912 |
| Tianshui Huatian Technology Co. Ltd., Class A | &nbsp;&nbsp; 189000 | 226619 |
| TongFu Microelectronics Co. Ltd., Class A | &nbsp;&nbsp; 86200 | 272421 |
| Tongwei Co. Ltd., Class A | &nbsp;&nbsp; 255093 | 640537 |
| Trina Solar Co. Ltd. | &nbsp;&nbsp; 128989 | 311606 |
| Unigroup Guoxin Microelectronics Co. Ltd., Class A | &nbsp;&nbsp; 45479 | 339751 |
| Will Semiconductor Co. Ltd. Shanghai, Class A | &nbsp;&nbsp; 63055 | 899885 |
| Xinjiang Daqo New Energy Co. Ltd. | &nbsp;&nbsp; 98462 | 276674 |
| Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 84001 | 347739 |
|  |  | 15430722 |
| **Software — 1.4%** | **Software — 1.4%** | **Software — 1.4%** |
| 360 Security Technology Inc., Class A | &nbsp;&nbsp; 399200 | 414371 |
| Beijing Kingsoft Office Software Inc., Class A | &nbsp;&nbsp; 25457 | 743119 |
| China National Software & Service Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 42020 | 179969 |
| Empyrean Technology Co. Ltd., NVS | &nbsp;&nbsp; 21400 | 233545 |
| Hundsun Technologies Inc., Class A | &nbsp;&nbsp; 105782 | 268337 |
| Iflytek Co. Ltd., Class A | &nbsp;&nbsp; 126050 | 695397 |
| Sangfor Technologies Inc., Class A | &nbsp;&nbsp; 22300 | 152589 |
| Shanghai Baosight Software Co. Ltd., Class A | &nbsp;&nbsp; 126105 | 561205 |
| Thunder Software Technology Co. Ltd., Class A | &nbsp;&nbsp; 22800 | 143497 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI China A ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Yonyou Network Technology Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 189849 | $251913 |
|  |  | 3643942 |
| **Specialty Retail — 0.5%** | **Specialty Retail — 0.5%** | **Specialty Retail — 0.5%** |
| China Tourism Group Duty Free Corp. Ltd., Class A | &nbsp;&nbsp; 105041 | 998445 |
| HLA Group Corp. Ltd., Class A | &nbsp;&nbsp; 256400 | 232897 |
| Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A | &nbsp;&nbsp; 210306 | 158983 |
|  |  | 1390325 |
| **Technology Hardware, Storage & Peripherals — 0.8%** | **Technology Hardware, Storage & Peripherals — 0.8%** | **Technology Hardware, Storage & Peripherals — 0.8%** |
| Anker Innovations Technology Co. Ltd. | &nbsp;&nbsp; 27510 | 207139 |
| China Greatwall Technology Group Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 168500 | 203011 |
| GRG Banking Equipment Co. Ltd., Class A | &nbsp;&nbsp; 147000 | 205299 |
| IEIT Systems Co. Ltd., Class A | &nbsp;&nbsp; 85460 | 444859 |
| Ninestar Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp; 84210 | 315493 |
| Shenzhen Transsion Holdings Co. Ltd., Class A | &nbsp;&nbsp; 60174 | 674234 |
|  |  | 2050035 |
| **Trading Companies & Distributors — 0.2%** | **Trading Companies & Distributors — 0.2%** | **Trading Companies & Distributors — 0.2%** |
| COSCO Shipping Development Co. Ltd., Class A | &nbsp;&nbsp; 567800 | 192705 |
| Shanxi Coal International Energy Group Co. Ltd. | &nbsp;&nbsp; 105100 | 187671 |
| Xiamen C & D Inc., Class A | &nbsp;&nbsp; 168200 | 184703 |
|  |  | 565079 |
| **Transportation Infrastructure — 0.5%** | **Transportation Infrastructure — 0.5%** | **Transportation Infrastructure — 0.5%** |
| China Merchants Expressway Network & Technology <br> Holdings Co. Ltd.<br>| &nbsp;&nbsp; 244500 | 416959 |
| Guangzhou Baiyun International Airport Co. Ltd., <br> Class A<sup>(a)</sup><br>| &nbsp;&nbsp; 127000 | 169301 |
| Liaoning Port Co. Ltd., Class A | &nbsp;&nbsp; 1050000 | 186115 |
| Shanghai International Airport Co. Ltd., Class A | &nbsp;&nbsp; 63022 | 301591 |
| Shanghai International Port Group Co. Ltd., Class A | &nbsp;&nbsp; 379600 | 317216 |
|  |  | 1391182 |
| **Wireless Telecommunication Services — 0.4%** | **Wireless Telecommunication Services — 0.4%** | **Wireless Telecommunication Services — 0.4%** |
| China United Network Communications Ltd., Class A | &nbsp;&nbsp; 1722400 | 1121217 |
| **Total Common Stocks — 99.6%** <br>**(Cost: $239,888,953)** | **Total Common Stocks — 99.6%** <br>**(Cost: $239,888,953)** | 267889621 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Rights** | **Rights** | **Rights** |
| **Pharmaceuticals — 0.0%** | **Pharmaceuticals — 0.0%** | **Pharmaceuticals — 0.0%** |
| Kangmei Pharmaceutical Co. Ltd. (Expires 12/31/49)<sup>(b)</sup> | &nbsp;&nbsp; 27905 | $— |
| **Total Rights — 0.0%** <br>**(Cost: $—)** | **Total Rights — 0.0%** <br>**(Cost: $—)** |  |
| **Total Long-Term Investments — 99.6%** <br>**(Cost: $239,888,953)** | **Total Long-Term Investments — 99.6%** <br>**(Cost: $239,888,953)** | 267889621 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 170000 | 170000 |
| **Total Short-Term Securities — 0.1%** <br>**(Cost: $170,000)** | **Total Short-Term Securities — 0.1%** <br>**(Cost: $170,000)** | 170000 |
| **Total Investments — 99.7%** <br>**(Cost: $240,058,953)** | **Total Investments — 99.7%** <br>**(Cost: $240,058,953)** | 268059621 |
| **Other Assets Less Liabilities — 0.3%** | **Other Assets Less Liabilities — 0.3%** | 879397 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $268939018 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares | $870000 | $—<br> $(700000 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $170000 | 170000 | $74319 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| FTSE China A50 Index | &nbsp;&nbsp; 71 | &nbsp;&nbsp; 08/29/24 | &nbsp;&nbsp; $842 | &nbsp;&nbsp; $(299)<br>|

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI China A ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $299 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $299 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(13133)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(13133)<br>|
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(33380)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(33380)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $675774 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $22139352 | &nbsp;&nbsp; $245750269 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $267889621 |
| Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 170000 |
|  | &nbsp;&nbsp; $22309352 | &nbsp;&nbsp; $245750269 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $268059621 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(299)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(299)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Statements of Assets and Liabilities

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>China Large-Cap <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI China <br> A ETF <br>|
| **ASSETS** |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $4149898016 | $267889621 |
| Investments, at value—affiliated<sup>(c)</sup> | 15332848 | 170000 |
| Cash | 676707 |  |
| Cash pledged for futures contracts | 6623000 | 52000 |
| Foreign currency, at value<sup>(d)</sup> | 21721773 | 942837 |
| Receivables: |  |  |
| Securities lending income—affiliated | 52951 |  |
| Dividends—unaffiliated | 75826000 | 2311 |
| Dividends—affiliated | 17054 | 1343 |
| Variation margin on futures contracts | 1572154 | 16600 |
| Total assets | 4271720503 | 269074712 |
| **LIABILITIES** |  |  |
| Bank overdraft |  | 38 |
| Collateral on securities loaned, at value | 11106404 |  |
| Payables: |  |  |
| Investments purchased | 8405728 |  |
| Investment advisory fees | 2816642 | 135656 |
| Total liabilities | 22328774 | 135694 |
| **Commitments and contingent liabilities** |  |  |
| NET ASSETS | $4249391729 | $268939018 |
| **NET ASSETS CONSIST OF** |  |  |
| Paid-in capital | $9344791130 | $388212189 |
| Accumulated loss | (5095399401) | (119273171) |
| NET ASSETS | $4249391729 | $268939018 |
| **NET ASSET VALUE** |  |  |
| Shares outstanding | 165000000 | 10500000 |
| Net asset value | $25.75 | $25.61 |
| Shares authorized | Unlimited | Unlimited |
| Par value |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $4833454031 | $239888953 |
| <sup>(b)</sup> Securities loaned, at value | $10482676 | $— |
| <sup>(c)</sup> Investments, at cost—affiliated | $15331157 | $170000 |
| <sup>(d)</sup> Foreign currency, at cost | $21729708 | $942410 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Operations

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>China <br> Large-Cap <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI China <br> A ETF <br>|
| **INVESTMENT INCOME** |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $170149714 | &nbsp;&nbsp;&nbsp; $7229199 |
| Dividends—affiliated | &nbsp;&nbsp; 264188 | &nbsp;&nbsp;&nbsp; 74319 |
| Interest—unaffiliated | &nbsp;&nbsp; 107249 | &nbsp;&nbsp;&nbsp; 11453 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 172949 | &nbsp;&nbsp;&nbsp; — |
| Foreign taxes withheld | &nbsp;&nbsp; (13438133)<br>| &nbsp;&nbsp;&nbsp; (706844)<br>|
| Total investment income | &nbsp;&nbsp; 157255967 | &nbsp;&nbsp;&nbsp; 6608127 |
| EXPENSES |  |  |
| Investment advisory | &nbsp;&nbsp; 34540718 | &nbsp;&nbsp;&nbsp; 1455534 |
| Interest expense | &nbsp;&nbsp; 2458 | &nbsp;&nbsp;&nbsp; 502 |
| Commitment costs | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2204 |
| Total expenses | &nbsp;&nbsp; 34543176 | &nbsp;&nbsp;&nbsp; 1458240 |
| Less: |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (384518)<br>|
| Total expenses after fees waived | &nbsp;&nbsp; 34543176 | &nbsp;&nbsp;&nbsp; 1073722 |
| Net investment income | &nbsp;&nbsp; 122712791 | &nbsp;&nbsp;&nbsp; 5534405 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| Net realized gain (loss) from: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (622756798)<br>| &nbsp;&nbsp;&nbsp; (16621280)<br>|
| Investments—affiliated | &nbsp;&nbsp; (17197)<br>| &nbsp;&nbsp;&nbsp; — |
| Foreign currency transactions | &nbsp;&nbsp; 50403 | &nbsp;&nbsp;&nbsp; 3416 |
| Futures contracts | &nbsp;&nbsp; (7765476)<br>| &nbsp;&nbsp;&nbsp; (13133)<br>|
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 107352220 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; (523136848)<br>| &nbsp;&nbsp;&nbsp; (16630997)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (326208966)<br>| &nbsp;&nbsp;&nbsp; (35381305)<br>|
| Investments—affiliated | &nbsp;&nbsp; (1360)<br>| &nbsp;&nbsp;&nbsp; — |
| Foreign currency translations | &nbsp;&nbsp; (311805)<br>| &nbsp;&nbsp;&nbsp; (1129)<br>|
| Futures contracts | &nbsp;&nbsp; (7010396)<br>| &nbsp;&nbsp;&nbsp; (33380)<br>|
|  | &nbsp;&nbsp; (333532527)<br>| &nbsp;&nbsp;&nbsp; (35415814)<br>|
| Net realized and unrealized loss | &nbsp;&nbsp; (856669375)<br>| &nbsp;&nbsp;&nbsp; (52046811)<br>|
| NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $(733956584)<br>| &nbsp;&nbsp;&nbsp; $(46512406)<br>|
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>China Large-Cap ETF  | iShares <br>China Large-Cap ETF  | iShares <br>MSCI China A ETF  | iShares <br>MSCI China A ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $122712791 | &nbsp;&nbsp;&nbsp; $114844150 | &nbsp;&nbsp;&nbsp; $5534405 | &nbsp;&nbsp;&nbsp; $6583068 |
| Net realized loss | &nbsp;&nbsp; (523136848)<br>| &nbsp;&nbsp;&nbsp; (741645143)<br>| &nbsp;&nbsp;&nbsp; (16630997)<br>| &nbsp;&nbsp;&nbsp; (5521305)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; (333532527)<br>| &nbsp;&nbsp;&nbsp; 756263809 | &nbsp;&nbsp;&nbsp; (35415814)<br>| &nbsp;&nbsp;&nbsp; (53014168)<br>|
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; (733956584)<br>| &nbsp;&nbsp;&nbsp; 129462816 | &nbsp;&nbsp;&nbsp; (46512406)<br>| &nbsp;&nbsp;&nbsp; (51952405)<br>|
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (126376186)<br>| &nbsp;&nbsp;&nbsp; (137823574)<br>| &nbsp;&nbsp;&nbsp; (8466171)<br>| &nbsp;&nbsp;&nbsp; (8340710)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (583066848)<br>| &nbsp;&nbsp;&nbsp; 407457486 | &nbsp;&nbsp;&nbsp; (5070413)<br>| &nbsp;&nbsp;&nbsp; (161024123)<br>|
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (1443399618)<br>| &nbsp;&nbsp;&nbsp; 399096728 | &nbsp;&nbsp;&nbsp; (60048990)<br>| &nbsp;&nbsp;&nbsp; (221317238)<br>|
| Beginning of year | &nbsp;&nbsp; 5692791347 | &nbsp;&nbsp;&nbsp; 5293694619 | &nbsp;&nbsp;&nbsp; 328988008 | &nbsp;&nbsp;&nbsp; 550305246 |
| End of year | &nbsp;&nbsp; $4249391729 | &nbsp;&nbsp;&nbsp; $5692791347 | &nbsp;&nbsp;&nbsp; $268939018 | &nbsp;&nbsp;&nbsp; $328988008 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares China Large-Cap ETF  | iShares China Large-Cap ETF  | iShares China Large-Cap ETF  | iShares China Large-Cap ETF  | iShares China Large-Cap ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $30.39 | &nbsp;&nbsp;&nbsp; $30.37 | &nbsp;&nbsp;&nbsp; $40.36 | &nbsp;&nbsp;&nbsp; $41.57 | &nbsp;&nbsp;&nbsp; $41.63 |
| Net investment income<sup>(a)</sup> | 0.67 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;0.89 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | &nbsp;&nbsp; (4.62)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp; (10.16)<br>| &nbsp;&nbsp;&nbsp; (1.26)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.17 |
| Net increase (decrease) from investment operations | &nbsp;&nbsp; (3.95)<br>| &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp; (9.41)<br>| &nbsp;&nbsp;&nbsp; (0.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.06 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (0.69)<br>| &nbsp;&nbsp;&nbsp; (0.75)<br>| &nbsp;&nbsp;&nbsp; (0.58)<br>| &nbsp;&nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp;&nbsp; (1.12)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $25.75 | &nbsp;&nbsp;&nbsp; $30.39 | &nbsp;&nbsp;&nbsp; $30.37 | &nbsp;&nbsp;&nbsp; $40.36 | &nbsp;&nbsp;&nbsp; $41.57 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | &nbsp;&nbsp; (12.73)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.71<br> %<br>| &nbsp;&nbsp;&nbsp; (23.54)%<br>| &nbsp;&nbsp;&nbsp; (1.13)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.59<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74<br> %<br>|
| Net investment income | 2.63<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.19<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.12<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.90<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.18<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $4249392 | &nbsp;&nbsp;&nbsp; $5692791 | &nbsp;&nbsp;&nbsp; $5293695 | &nbsp;&nbsp;&nbsp; $4812487 | &nbsp;&nbsp;&nbsp; $3429710 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 18<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>| &nbsp;&nbsp;&nbsp; 29<br> %<br>| &nbsp;&nbsp;&nbsp; 62<br> %<br>| &nbsp;&nbsp;&nbsp; 18<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI China A ETF  | iShares MSCI China A ETF  | iShares MSCI China A ETF  | iShares MSCI China A ETF  | iShares MSCI China A ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $31.18 | &nbsp;&nbsp;&nbsp; $35.39 | &nbsp;&nbsp;&nbsp; $41.70 | &nbsp;&nbsp;&nbsp; $36.39 | &nbsp;&nbsp;&nbsp; $28.68 |
| Net investment income<sup>(a)</sup> | 0.61 | &nbsp;&nbsp;&nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;0.46 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.59 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | &nbsp;&nbsp; (5.07)<br>| &nbsp;&nbsp;&nbsp; (3.92)<br>| &nbsp;&nbsp;&nbsp; (6.29)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.22 | &nbsp;&nbsp;&nbsp;&nbsp;7.47 |
| Net increase (decrease) from investment operations | &nbsp;&nbsp; (4.46)<br>| &nbsp;&nbsp;&nbsp; (3.38)<br>| &nbsp;&nbsp;&nbsp; (5.83)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.74 | &nbsp;&nbsp;&nbsp;&nbsp;8.06 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp;&nbsp; (0.83)<br>| &nbsp;&nbsp;&nbsp; (0.48)<br>| &nbsp;&nbsp;&nbsp; (0.43)<br>| &nbsp;&nbsp;&nbsp; (0.35)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $25.61 | &nbsp;&nbsp;&nbsp; $31.18 | &nbsp;&nbsp;&nbsp; $35.39 | &nbsp;&nbsp;&nbsp; $41.70 | &nbsp;&nbsp;&nbsp; $36.39 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | &nbsp;&nbsp; (14.19)%<br>| &nbsp;&nbsp;&nbsp; (9.55)%<br>| &nbsp;&nbsp;&nbsp; (14.18)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 15.79<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 28.40<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.60<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.60<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.63<br> %<br>|
| Total expenses after fees waived | 0.44<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.24<br> %<br>|
| Net investment income | 2.28<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.70<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.98<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $268939 | &nbsp;&nbsp;&nbsp; $328988 | &nbsp;&nbsp;&nbsp; $550305 | &nbsp;&nbsp;&nbsp; $627526 | &nbsp;&nbsp;&nbsp; $484005 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 73 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp; 26 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp; 64<br> %<br>| &nbsp;&nbsp;&nbsp; 38 %<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp; 31 %<sup>(g)</sup><br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate includes portfolio transactions that are executed as a result of the Fund offering and redeeming Creation Units solely for cash in U.S. dollars ("cash creations"). | <sup>(f)</sup> Portfolio turnover rate includes portfolio transactions that are executed as a result of the Fund offering and redeeming Creation Units solely for cash in U.S. dollars ("cash creations"). | <sup>(f)</sup> Portfolio turnover rate includes portfolio transactions that are executed as a result of the Fund offering and redeeming Creation Units solely for cash in U.S. dollars ("cash creations"). | <sup>(f)</sup> Portfolio turnover rate includes portfolio transactions that are executed as a result of the Fund offering and redeeming Creation Units solely for cash in U.S. dollars ("cash creations"). | <sup>(f)</sup> Portfolio turnover rate includes portfolio transactions that are executed as a result of the Fund offering and redeeming Creation Units solely for cash in U.S. dollars ("cash creations"). | <sup>(f)</sup> Portfolio turnover rate includes portfolio transactions that are executed as a result of the Fund offering and redeeming Creation Units solely for cash in U.S. dollars ("cash creations"). |
| <sup>(g)</sup> Portfolio turnover rate excluding cash creations was as follows: | &nbsp;&nbsp; 15<br> %<br>| &nbsp;&nbsp;&nbsp; 13<br> %<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 28<br> %<br>|

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

<u> *iShares ETF* </u> <u> *Diversification* *Classification* </u> <br> China Large-Cap Non-diversified <br> MSCI China A Diversified

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Foreign Taxes:** The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2024, if any, are disclosed in the Statements of Assets and Liabilities.

The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Bank Overdraft:**The Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**Collateralization:** If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's published NAV.

&nbsp;&nbsp;&nbsp;&nbsp;• Futures contracts are valued based on that day's last reported settlement or trade price on the exchange where the contract is traded.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange ("NYSE"). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments ("Systematic Fair Value Price"). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** 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:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 that may not have a secondary market and/or may have 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.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***4. SECURITIES AND OTHER INVESTMENTS***

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| China Large-Cap |  |  |  |  |
| BNP Paribas SA | &nbsp;&nbsp; $230492 | &nbsp;&nbsp;&nbsp; $(230492) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BofA Securities, Inc. | &nbsp;&nbsp; 2610620 | &nbsp;&nbsp;&nbsp; (2610620) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 70725 | &nbsp;&nbsp;&nbsp; (70725) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 1032271 | &nbsp;&nbsp;&nbsp; (1032271) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 2610620 | &nbsp;&nbsp;&nbsp; (2610620) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 3022158 | &nbsp;&nbsp;&nbsp; (3022158) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 905790 | &nbsp;&nbsp;&nbsp; (905790) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $10482676 | &nbsp;&nbsp;&nbsp; $(10482676) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. ("BlackRock"). BlackRock's indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. DERIVATIVE FINANCIAL INSTRUMENTS***

**Futures Contracts:** Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract's size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.

Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

value of the contract ("variation margin"). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.

***6. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to the iShares China Large-Cap ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund as follows:

---

| | |
|:---|:---|
| *Average Daily Net Assets* | *Investment Advisory Fees* |
| First $6 billion | 0.74% |
| Over $6 billion, up to and including $9 billion | 0.67 |
| Over $9 billion, up to and including $12 billion | 0.60 |
| Over $12 billion | 0.54 |

---

For its investment advisory services to the iShares MSCI China A ETF, BFA is entitled to an annual investment advisory fee of 0.60%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.

**Expense Waivers:** BFA may from time to time voluntarily waive and/or reimburse fees or expenses in order to limit total annual fund operating expenses (excluding acquired fund fees and expenses, if any). BFA had elected to implement a voluntary fee waiver in order to limit the iShares MSCI China A ETF's total annual operating expenses after fee waiver to 0.24%.This voluntary fee waiver for the Fund was discontinued on December 31, 2023. Any such voluntary waiver or reimbursement may be eliminated by BFA at any time.

This amount is included in investment advisory fees waived in the Statement of Operations. For the year ended July 31, 2024, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| MSCI China A | &nbsp;&nbsp; $384518 |

---

**Distributor:** BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, redemption fee, distribution fee or service fee. The money market fund in which the cash collateral has been invested may impose a discretionary liquidity fee of up to 2% of the value redeemed, if such fee is determined to be in the best interests of such money market fund.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended July 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| China Large-Cap | &nbsp;&nbsp; $43688 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the year ended July 31, 2024, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* | &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>|
| China Large-Cap | &nbsp;&nbsp; $39080485 | &nbsp;&nbsp;&nbsp; $46423677 | &nbsp;&nbsp;&nbsp; $(22028180) |

---

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***7. PURCHASES AND SALES***

For the year ended July 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| China Large-Cap | &nbsp;&nbsp; $936501567 | &nbsp;&nbsp;&nbsp; $842550691 |
| MSCI China A | &nbsp;&nbsp; 179301110 | &nbsp;&nbsp;&nbsp; 187087939 |

---

For the year ended July 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| China Large-Cap | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $667614811 |

---

***8. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of July 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| China Large-Cap | &nbsp;&nbsp; $(12953583) | &nbsp;&nbsp;&nbsp; $12953583 |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*07/31/23*<br>|
| China Large-Cap |  |  |
| Ordinary income | &nbsp;&nbsp; $126376186 | &nbsp;&nbsp;&nbsp; $137823574 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended*<br> *07/31/24*<br>| &nbsp;&nbsp; *Year Ended*<br> *07/31/23*<br>|
| MSCI China A |  |  |
| Ordinary income | &nbsp;&nbsp; $8466171 | &nbsp;&nbsp;&nbsp; $8340710 |

---

As of July 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| China Large-Cap | &nbsp;&nbsp; $102100948 | &nbsp;&nbsp;&nbsp; $(4065806628) | &nbsp;&nbsp;&nbsp; $(1131693721) | &nbsp;&nbsp;&nbsp; $(5095399401) |
| MSCI China A | &nbsp;&nbsp; 4534495 | &nbsp;&nbsp;&nbsp; (130711001) | &nbsp;&nbsp;&nbsp; 6903335 | &nbsp;&nbsp;&nbsp; (119273171) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain futures contracts, characterization of corporate actions and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies. 

A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as "passive foreign investment companies." Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.

As of July 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| China Large-Cap | &nbsp;&nbsp; $5296887331 | &nbsp;&nbsp;&nbsp; $287452856 | &nbsp;&nbsp;&nbsp; $(1419109323) | &nbsp;&nbsp;&nbsp; $(1131656467) |
| MSCI China A | &nbsp;&nbsp; 261156427 | &nbsp;&nbsp;&nbsp; 37661787 | &nbsp;&nbsp;&nbsp; (30758892) | &nbsp;&nbsp;&nbsp; 6902895 |

---

***9. LINE OF CREDIT***

The iShares MSCI China A ETF, along with certain other iShares funds ("Participating Funds"), is a party to a $800 million credit agreement ("Syndicated Credit Agreement") with a group of lenders, which expires on October 16, 2024. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) Daily Simple Secured Overnight Financing Rate ("SOFR") plus 0.10% and 1.00% per annum or (b) the U.S. Federal Funds rate plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund's relative exposure to certain target markets or a Participating Fund's maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

During the year ended July 31, 2024, the Fund did not borrow under the Syndicated Credit Agreement.

***10. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to discretionary liquidity fees under certain circumstances.

**Market Risk:** The iShares MSCI China A ETF invests in A-shares (i.e., equity securities of companies based in the People's Republic of China ("China" or "PRC") that trade on the Shanghai Stock Exchange and Shenzhen Stock Exchange) primarily through the Shanghai-Hong Kong Stock Connect program or the Shenzhen-Hong Kong Stock Connect program (together, "Stock Connect"). Investing in A-shares through Stock Connect is subject to trading, clearance and settlement procedures, which could pose

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

risks to the Fund. Trading through Stock Connect is subject to a daily quota, which limits the maximum net purchases under Stock Connect each day. The daily quota may restrict the Fund's ability to invest in A-shares on a timely basis and could affect the Fund's ability to effectively pursue its investment strategy. Additionally, the Fund may be subject to the risk of price fluctuations on days when the Chinese markets are open, but Stock Connect is not trading. The A-shares market has a higher propensity for trading suspensions than many other global equity markets.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore each Fund's results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by each Fund, and each Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker's customers, potentially resulting in losses to the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in issuers located in a single country or a limited number of countries. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions in that country or those countries may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the Fund's portfolio. Unanticipated or sudden political or social developments may cause uncertainty in the markets and as a result adversely affect the Fund's investments. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be more volatile and less liquid than U.S. securities and may be less subject to governmental supervision not typically associated with investing in U.S. securities.

The Funds invest a significant portion of their assets in securities of issuers located in China or with significant exposure to Chinese issuers. Investments in Chinese securities, including certain Hong Kong-listed securities, involve risks specific to China. China may be subject to considerable degrees of economic, political and social instability and demonstrates significantly higher volatility from time to time in comparison to developed markets. Chinese markets generally continue to experience inefficiency, volatility and pricing anomalies resulting from governmental influence, a lack of publicly available information and/or political and social instability. Internal social unrest or confrontations with other neighboring countries may disrupt economic development in China and result in a greater risk of currency fluctuations, currency non-convertibility, interest rate fluctuations and higher rates of inflation. Incidents involving China's or the region's security may cause uncertainty in Chinese markets and may adversely affect the Chinese economy and a fund's investments. Reduction in spending on Chinese products and services, supply chain diversification, institution of tariffs, sanctions or other trade barriers, or a downturn in any of the economies of China's key trading partners may have an adverse impact on the Chinese economy. In addition, measures may be taken to limit the flow of capital and/or sanctions may be imposed, which could prohibit or restrict the ability to own or transfer fund assets and may also include retaliatory actions, such as seizure of fund assets.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

The Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds' investments.

The Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the fund's portfolio. Investment percentages in specific sectors are presented in the Schedule of Investments.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***11. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Year Ended <br>07/31/23 | Year Ended <br>07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| China Large-Cap |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 4350000 | &nbsp;&nbsp;&nbsp; $99261615 | &nbsp;&nbsp;&nbsp; 21300000 | &nbsp;&nbsp;&nbsp; $633923422 |
| Shares redeemed | &nbsp;&nbsp; (26700000)<br>| &nbsp;&nbsp;&nbsp; (682328463)<br>| &nbsp;&nbsp;&nbsp; (8250000)<br>| &nbsp;&nbsp;&nbsp; (226465936)<br>|
|  | &nbsp;&nbsp; (22350000)<br>| &nbsp;&nbsp;&nbsp; $(583066848)<br>| &nbsp;&nbsp;&nbsp; 13050000 | &nbsp;&nbsp;&nbsp; $407457486 |
| MSCI China A |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp;&nbsp; $153259514 | &nbsp;&nbsp;&nbsp; 1650000 | &nbsp;&nbsp;&nbsp; $54145546 |
| Shares redeemed | &nbsp;&nbsp; (5950000)<br>| &nbsp;&nbsp;&nbsp; (158329927)<br>| &nbsp;&nbsp;&nbsp; (6650000)<br>| &nbsp;&nbsp;&nbsp; (215169669)<br>|
|  | &nbsp;&nbsp; (50000)<br>| &nbsp;&nbsp;&nbsp; $(5070413)<br>| &nbsp;&nbsp;&nbsp; (5000000)<br>| &nbsp;&nbsp;&nbsp; $(161024123)<br>|

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust's administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for Funds using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Fund's custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***12. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

2024 iShares Annual Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the two funds listed in the table below

***Opinions on the Financial Statements*** 

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (two of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of July 31, 2024, the related statements of operations for the year ended July 31, 2024, the statements of changes in net assets for each of the two years in the period ended July 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended July 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of July 31, 2024, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended July 31, 2024 and each of the financial highlights for each of the five years in the period ended July 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

iShares China Large-Cap ETF <br> iShares MSCI China A ETF

***Basis for Opinions*** 

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

September 23, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

Report of Independent Registered Public Accounting Firm

------

Important Tax Information (unaudited)

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Dividend* <br>*Income*<br>|
| China Large-Cap | &nbsp;&nbsp; $128905130 |
| MSCI China A | &nbsp;&nbsp; 7121573 |

---

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended July 31, 2024:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Foreign* <br>*Taxes Paid*<br>|
| China Large-Cap | &nbsp;&nbsp; $168836011 | &nbsp;&nbsp;&nbsp;&nbsp; $13952427 |
| MSCI China A | &nbsp;&nbsp; 7229200 | &nbsp;&nbsp;&nbsp;&nbsp; 706429 |

---

2024 iShares Annual Financial Statements

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Regulation under the Alternative Investment Fund Managers Directive**

The Alternative Investment Fund Managers Directive, and its United Kingdom ("UK") equivalent, (the "AIFMD") impose detailed and prescriptive obligations on fund managers established in the European Union (the "EU") and the UK. These do not currently apply to managers established outside of the EU or UK, such as BFA (the "Company"). However, the Company is required to comply with certain disclosure, reporting and transparency obligations of the AIFMD because it has registered the iShares China Large-Cap ETF (the "Fund") to be marketed to investors in the EU and/or UK.

**Report on Remuneration**

BlackRock has a clear and well-defined pay-for-performance philosophy, and compensation programs which support that philosophy.

BlackRock operates a total compensation model for remuneration which includes a base salary, which is contractual, and a discretionary bonus scheme. Although all employees are eligible to receive a discretionary bonus, there is no contractual obligation to make a discretionary bonus award to any employees. For senior management and staff who have the ability to materially affect the risk profile of the Fund, a significant percentage of variable remuneration is deferred over time. All employees are subject to a clawback policy.

Remuneration decisions for employees are made once annually in January following the end of the performance year, based on BlackRock's full-year financial results and other non-financial goals and objectives. Alongside financial performance, individual total compensation is also based on strategic and operating results and other considerations such as management and leadership capabilities. No set formulas are established and no fixed benchmarks are used in determining annual incentive awards.

Annual incentive awards are paid from a bonus pool which is reviewed throughout the year by BlackRock's independent compensation committee, taking into account both actual and projected financial information together with information provided by the Enterprise Risk and Regulatory Compliance departments in relation to any activities, incidents or events that warrant consideration in making compensation decisions. Individuals are not involved in setting their own remuneration.

Each of the control functions (Enterprise Risk, Legal & Compliance, Finance, Human Resources and Internal Audit) each have their own organizational structures which are independent of the business units and therefore staff members in control functions are remunerated independently of the businesses they oversee. Functional bonus pools for those control functions are determined with reference to the performance of each individual function and the remuneration of the senior members of control functions is directly overseen by BlackRock's independent remuneration committee.

The Company is required under the AIFMD to make quantitative disclosures of remuneration. These disclosures are made in line with BlackRock's interpretation of currently available regulatory guidance on quantitative remuneration disclosures. As market or regulatory practice develops BlackRock may consider it appropriate to make changes to the way in which quantitative remuneration disclosures are calculated. Where such changes are made, this may result in disclosures in relation to a fund not being comparable to the disclosures made in the prior year, or in relation to other BlackRock fund disclosures in that same year. BlackRock bases its proportionality approach on a combination of factors that it is entitled to take into account based on relevant guidelines.

Remuneration information at an individual AIF level is not readily available. Disclosures are provided in relation to (a) the staff of the Company; (b) staff who are senior management; (c) staff who have the ability to materially affect the risk profile of the Fund; and (d) staff of companies to which portfolio management and risk management has been formally delegated.

All individuals included in the aggregated figures disclosed are rewarded in line with BlackRock's remuneration policy for their responsibilities across the relevant BlackRock business area. As all individuals have a number of areas of responsibilities, only the portion of remuneration for those individuals' services attributable to the Fund is included in the aggregate figures disclosed.

Members of staff and senior management of the Company typically provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the Company and across the broader BlackRock group. Conversely, members of staff and senior management of the broader BlackRock group may provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the broader BlackRock group and of the Company. Therefore, the figures disclosed are a sum of individuals' portion of remuneration attributable to the Company according to an objective apportionment methodology which acknowledges the multiple-service nature of the Company and the broader BlackRock group. Accordingly, the figures are not representative of any individual's actual remuneration or their remuneration structure.

The amount of the total remuneration awarded to the Company's staff in respect of the Company's financial year ending December 31, 2023 was USD 5.43m. This figure is comprised of fixed remuneration of USD 0.74m and variable remuneration of USD 4.68m. There was a total of 8 beneficiaries of the remuneration described above.

The amount of the aggregate remuneration awarded by the Company in respect of the Company's financial year ending December 31, 2023, to its senior management was USD 3.66m, and to other members of its staff whose actions potentially have a material impact on the risk profile of the Company or its funds was USD 1.77m.

Additional Information

------

Additional Information (continued)

**Disclosures Under the EU Sustainable Finance Disclosure Regulation** 

The iShares China Large-Cap ETF (the "Fund") is registered under the Alternative Investment Fund Managers Directive to be marketed to European Union ("EU") investors, as noted above. As a result, certain disclosures are required under the EU Sustainable Finance Disclosure Regulation ("SFDR").

The Fund has not been categorized under the SFDR as an "Article 8" or "Article 9" product. In addition, the Fund's investment strategy does not take into account the criteria for environmentally sustainable economic activities under the EU sustainable investment taxonomy regulation or principal adverse impacts ("PAIs") on sustainability factors under the SFDR. PAIs are identified under the SFDR as the material impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, and anti-corruption and anti-bribery matters.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of each Fund's portfolio securities is available in each Fund Prospectus. Each Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at **iShares.com**.

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract

**iShares China Large-Cap ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were higher than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds. The Board also noted the tradability, liquidity and developed capital markets ecosystem associated with the Fund that differentiates it from other ETFs in the marketplace.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund's investment advisory fee rate, and that the Board would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares MSCI China A ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

Board Review and Approval of Investment Advisory Contract

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| JSC | Joint Stock Company |
| NVS | Non-Voting Shares |

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2024 iShares Annual Financial Statements

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by FTSE International Limited or MSCI Inc., nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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July 31, 2024

![](g40991img13643add1.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2024 Annual Financial Statements <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares Core MSCI EAFE ETF \| IEFA \| Cboe BZX |
| • iShares Core MSCI Europe ETF \| IEUR \| NYSE Arca |
| • iShares Core MSCI International Developed Markets ETF \| IDEV \| NYSE Arca |
| • iShares Core MSCI Pacific ETF \| IPAC \| NYSE Arca |
| • iShares Core MSCI Total International Stock ETF \| IXUS \| NASDAQ |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 115 |
| [Statements of Operations](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 117 |
| [Statements of Changes in Net Assets](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 119 |
| [Financial Highlights](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_FS-Footer-iSharesReport_8)  | &nbsp;&nbsp; 122 |
| [Notes to Financial Statements](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 127 |
| [Report of Independent Registered Public Accounting Firm](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 138 |
| [Important Tax Information](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 139 |
| [Additional Information](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_SAI-Footer-iSharesReport-267_1)  | &nbsp;&nbsp; 140 |
| [Board Review and Approval of Investment Advisory Contract](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_15Cheader-Footer-iSharesReport-267_1)  | &nbsp;&nbsp; 142 |
| [Glossary of Terms Used in this Report](#xx_f5b68d5e-d9ba-4f9c-a1ac-ffce3901430f_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 147 |

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------

Schedule of Investments

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 7.6%** | **Australia — 7.6%** | **Australia — 7.6%** |
| Abacus Group | &nbsp;&nbsp; 3268313 | $2361624 |
| Abacus Storage King | &nbsp;&nbsp; 3267770 | 2732550 |
| Accent Group Ltd. | &nbsp;&nbsp; 1852921 | 2660213 |
| AGL Energy Ltd. | &nbsp;&nbsp; 3842509 | 26120643 |
| ALS Ltd. | &nbsp;&nbsp; 2887750 | 29236242 |
| Amotiv Ltd. | &nbsp;&nbsp; 936898 | 6653591 |
| AMP Ltd. | &nbsp;&nbsp; 16743478 | 13007051 |
| Ampol Ltd. | &nbsp;&nbsp; 1438465 | 31509507 |
| Ansell Ltd. | &nbsp;&nbsp; 848301 | 15187888 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 18078431 | 343942856 |
| APA Group | &nbsp;&nbsp; 7795448 | 40405026 |
| APM Human Services International Ltd. | &nbsp;&nbsp; 1839813 | 1718319 |
| ARB Corp. Ltd. | &nbsp;&nbsp; 534735 | 14775498 |
| Arena REIT | &nbsp;&nbsp; 2072726 | 5261240 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 3472478 | 123669177 |
| ASX Ltd. | &nbsp;&nbsp; 1158918 | 49377065 |
| Atlas Arteria Ltd. | &nbsp;&nbsp; 6814195 | 23403959 |
| AUB Group Ltd. | &nbsp;&nbsp; 607237 | 12831329 |
| Audinate Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 409877 | 4004346 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 10931471 | 26653893 |
| Aussie Broadband Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1288579 | 2695973 |
| Austal Ltd. | &nbsp;&nbsp; 2257654 | 3876062 |
| Australian Agricultural Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 2684535 | 2457772 |
| Bank of Queensland Ltd. | &nbsp;&nbsp; 3826333 | 15811886 |
| Bapcor Ltd. | &nbsp;&nbsp; 2226372 | 7486054 |
| Beach Energy Ltd. | &nbsp;&nbsp; 10268580 | 9977788 |
| Bega Cheese Ltd. | &nbsp;&nbsp; 1817426 | 5311595 |
| Bellevue Gold Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 7329167 | 6616998 |
| Bendigo & Adelaide Bank Ltd. | &nbsp;&nbsp; 3370860 | 27595678 |
| BHP Group Ltd. | &nbsp;&nbsp; 30699870 | 852687183 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 2670128 | 38773334 |
| Boss Energy Ltd. <sup>(a)(b)</sup> | &nbsp;&nbsp; 2528297 | 6070369 |
| Brambles Ltd. | &nbsp;&nbsp; 8446608 | 86110401 |
| Breville Group Ltd. | &nbsp;&nbsp; 605488 | 11634625 |
| Brickworks Ltd. | &nbsp;&nbsp; 454059 | 8573373 |
| BWP Trust | &nbsp;&nbsp; 3473960 | 8148984 |
| Capricorn Metals Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2011769 | 7119986 |
| CAR Group Ltd. | &nbsp;&nbsp; 2235714 | 51131928 |
| Centuria Capital Group | &nbsp;&nbsp; 3685464 | 4112540 |
| Centuria Industrial REIT | &nbsp;&nbsp; 3566176 | 7433025 |
| Centuria Office REIT | &nbsp;&nbsp; 1142615 | 932301 |
| Cettire Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1514523 | 1319495 |
| Challenger Ltd. | &nbsp;&nbsp; 3255458 | 15004212 |
| Champion Iron Ltd. | &nbsp;&nbsp; 2300199 | 9452138 |
| Charter Hall Group | &nbsp;&nbsp; 2870073 | 23967789 |
| Charter Hall Long Wale REIT | &nbsp;&nbsp; 4156300 | 9721919 |
| Charter Hall Retail REIT | &nbsp;&nbsp; 2857598 | 6538243 |
| Charter Hall Social Infrastructure REIT | &nbsp;&nbsp; 563995 | 948467 |
| Cleanaway Waste Management Ltd. | &nbsp;&nbsp; 12711078 | 23497127 |
| Clinuvel Pharmaceuticals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 226586 | 2218577 |
| Cochlear Ltd. | &nbsp;&nbsp; 398151 | 89964477 |
| Codan Ltd./Australia | &nbsp;&nbsp; 609155 | 5234475 |
| Coles Group Ltd. | &nbsp;&nbsp; 8135742 | 96422117 |
| Collins Foods Ltd. | &nbsp;&nbsp; 559222 | 3360651 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 10107944 | 910827881 |
| Computershare Ltd. | &nbsp;&nbsp; 3294228 | 59414713 |
| Coronado Global Resources Inc.<sup>(c)</sup> | &nbsp;&nbsp; 4339890 | 4097192 |
| Corporate Travel Management Ltd. | &nbsp;&nbsp; 791551 | 6995908 |
| Credit Corp. Group Ltd. | &nbsp;&nbsp; 405447 | 4651036 |
| Cromwell Property Group | &nbsp;&nbsp; 13246472 | 3606913 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| CSL Ltd. | &nbsp;&nbsp; 2930933 | $594871164 |
| Data#3 Ltd. | &nbsp;&nbsp; 630657 | 3649666 |
| De Grey Mining Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 11992656 | 9616051 |
| Deep Yellow Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 5130476 | 4348972 |
| Deterra Royalties Ltd. | &nbsp;&nbsp; 2690998 | 7035557 |
| Dexus | &nbsp;&nbsp; 6427863 | 29636021 |
| Dexus Industria REIT | &nbsp;&nbsp; 345071 | 655200 |
| Dicker Data Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 466603 | 3125693 |
| Domain Holdings Australia Ltd. | &nbsp;&nbsp; 2222489 | 4691762 |
| Domino's Pizza Enterprises Ltd. | &nbsp;&nbsp; 402434 | 8655614 |
| Downer EDI Ltd. | &nbsp;&nbsp; 4003993 | 13069123 |
| Eagers Automotive Ltd. | &nbsp;&nbsp; 856734 | 5972821 |
| Elders Ltd. | &nbsp;&nbsp; 969742 | 6044214 |
| Emerald Resources NL<sup>(a)</sup> | &nbsp;&nbsp; 3223323 | 7848740 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 9280001 | 33377124 |
| Evolution Mining Ltd. | &nbsp;&nbsp; 12289958 | 31842961 |
| EVT Ltd. | &nbsp;&nbsp; 624340 | 4736353 |
| Firefinch Ltd., NVS<sup>(b)(d)</sup> | &nbsp;&nbsp; 5815203 | 418314 |
| FleetPartners Group Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 1514104 | 3388775 |
| Flight Centre Travel Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1142892 | 16640376 |
| Fortescue Ltd. | &nbsp;&nbsp; 10228262 | 127268506 |
| G8 Education Ltd. | &nbsp;&nbsp; 4579517 | 3908181 |
| Genesis Minerals Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6066905 | 8367631 |
| Gold Road Resources Ltd. | &nbsp;&nbsp; 6899865 | 7714988 |
| Goodman Group | &nbsp;&nbsp; 10381228 | 239661922 |
| GPT Group (The) | &nbsp;&nbsp; 11999794 | 36551594 |
| GrainCorp Ltd., Class A | &nbsp;&nbsp; 1327442 | 7843079 |
| Growthpoint Properties Australia Ltd. | &nbsp;&nbsp; 807147 | 1233247 |
| Hansen Technologies Ltd. | &nbsp;&nbsp; 710156 | 2090667 |
| Harvey Norman Holdings Ltd. | &nbsp;&nbsp; 3761676 | 11813986 |
| Healius Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 3954578 | 3912407 |
| Helia Group Ltd. | &nbsp;&nbsp; 2633159 | 6881404 |
| HMC Capital Ltd. | &nbsp;&nbsp; 1434067 | 7317158 |
| HomeCo Daily Needs REIT | &nbsp;&nbsp; 9516968 | 7931289 |
| HUB24 Ltd. | &nbsp;&nbsp; 443737 | 14452065 |
| IDP Education Ltd. | &nbsp;&nbsp; 1589228 | 15607283 |
| IGO Ltd. | &nbsp;&nbsp; 4073116 | 14916193 |
| Iluka Resources Ltd. | &nbsp;&nbsp; 2594299 | 10321066 |
| Imdex Ltd. | &nbsp;&nbsp; 2719820 | 4086379 |
| Incitec Pivot Ltd. | &nbsp;&nbsp; 11303982 | 21823322 |
| Ingenia Communities Group | &nbsp;&nbsp; 2107567 | 7267615 |
| Inghams Group Ltd. | &nbsp;&nbsp; 2154995 | 5312693 |
| Insignia Financial Ltd. | &nbsp;&nbsp; 3535394 | 6405361 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 14498051 | 70140171 |
| IPH Ltd. | &nbsp;&nbsp; 1519146 | 6097323 |
| IRESS Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1147302 | 8012111 |
| James Hardie Industries PLC<sup>(a)</sup> | &nbsp;&nbsp; 2656549 | 95432864 |
| JB Hi-Fi Ltd. | &nbsp;&nbsp; 667563 | 30480031 |
| Johns Lyng Group Ltd. | &nbsp;&nbsp; 1249416 | 4881216 |
| Judo Capital Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 3813178 | 3461527 |
| Jumbo Interactive Ltd. | &nbsp;&nbsp; 218718 | 2340348 |
| Karoon Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4956403 | 6010431 |
| Kelsian Group Ltd. | &nbsp;&nbsp; 951875 | 3273980 |
| Lendlease Corp. Ltd. | &nbsp;&nbsp; 3967734 | 16378223 |
| Leo Lithium Ltd.<sup>(a)(b)(d)</sup> | &nbsp;&nbsp; 5416655 | 1431057 |
| Lifestyle Communities Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 579010 | 3422565 |
| Liontown Resources Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 8861187 | 5552383 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 13694651 | 44624869 |
| Lovisa Holdings Ltd. | &nbsp;&nbsp; 386466 | 8862932 |
| Lynas Rare Earths Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 5652128 | 23108317 |
| MA Financial Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 293512 | 866686 |
| Maas Group Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 238598 | 686537 |

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2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Macquarie Group Ltd. | &nbsp;&nbsp; 2189604 | $301345702 |
| Magellan Financial Group Ltd. | &nbsp;&nbsp; 1012003 | 6794404 |
| McMillan Shakespeare Ltd. | &nbsp;&nbsp; 507925 | 5960375 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 16856335 | 43882817 |
| Megaport Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 947862 | 6861979 |
| Metcash Ltd. | &nbsp;&nbsp; 6176327 | 14795232 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 1071602 | 38323454 |
| Mirvac Group | &nbsp;&nbsp; 23743402 | 33430882 |
| Monadelphous Group Ltd. | &nbsp;&nbsp; 635382 | 5402892 |
| Mount Gibson Iron Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3397221 | 790823 |
| Nanosonics Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1547373 | 3200887 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 18726236 | 472962206 |
| National Storage REIT | &nbsp;&nbsp; 7921423 | 12855049 |
| Netwealth Group Ltd. | &nbsp;&nbsp; 763899 | 11873094 |
| Neuren Pharmaceuticals Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 708683 | 8982494 |
| New Hope Corp. Ltd. | &nbsp;&nbsp; 3388797 | 10807512 |
| NEXTDC Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3838514 | 42270602 |
| nib holdings Ltd. | &nbsp;&nbsp; 2812592 | 13848487 |
| Nick Scali Ltd. | &nbsp;&nbsp; 410220 | 4227290 |
| Nickel Industries Ltd. | &nbsp;&nbsp; 10930189 | 6126326 |
| Nine Entertainment Co. Holdings Ltd. | &nbsp;&nbsp; 9261749 | 8820378 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 7210096 | 66917828 |
| NRW Holdings Ltd. | &nbsp;&nbsp; 2388864 | 5231926 |
| Nufarm Ltd./Australia | &nbsp;&nbsp; 2035737 | 6206411 |
| Objective Corp. Ltd. | &nbsp;&nbsp; 41391 | 335790 |
| oOh!media Ltd. | &nbsp;&nbsp; 3682372 | 3497734 |
| Orica Ltd. | &nbsp;&nbsp; 2909183 | 34232009 |
| Origin Energy Ltd. | &nbsp;&nbsp; 10491207 | 71985114 |
| Orora Ltd. | &nbsp;&nbsp; 8089192 | 10823703 |
| Paladin Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1742245 | 13069794 |
| Perenti Ltd. | &nbsp;&nbsp; 3625985 | 2496311 |
| Perpetual Ltd. | &nbsp;&nbsp; 648022 | 9413116 |
| Perseus Mining Ltd. | &nbsp;&nbsp; 8984222 | 14969379 |
| PEXA Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 901530 | 8180824 |
| Pilbara Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 17448999 | 33726534 |
| Pinnacle Investment Management Group Ltd. | &nbsp;&nbsp; 828283 | 8942074 |
| Platinum Asset Management Ltd. | &nbsp;&nbsp; 3049361 | 2134630 |
| PolyNovo Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4040817 | 7124093 |
| Premier Investments Ltd. | &nbsp;&nbsp; 680454 | 14794954 |
| Pro Medicus Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 355089 | 33502349 |
| PWR Holdings Ltd. | &nbsp;&nbsp; 467251 | 3636149 |
| Qantas Airways Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 5277840 | 22359374 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 8996923 | 106182135 |
| Qube Holdings Ltd. | &nbsp;&nbsp; 9845968 | 24656312 |
| Ramelius Resources Ltd. | &nbsp;&nbsp; 6886588 | 8788468 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 1113936 | 33923396 |
| REA Group Ltd. | &nbsp;&nbsp; 324217 | 43590863 |
| Red 5 Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 38204720 | 9798965 |
| Reece Ltd. | &nbsp;&nbsp; 1350489 | 24472793 |
| Region RE Ltd. | &nbsp;&nbsp; 7045395 | 10490687 |
| Regis Resources Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4946017 | 5457241 |
| Reliance Worldwide Corp. Ltd. | &nbsp;&nbsp; 4970856 | 16755856 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 2332455 | 179230734 |
| Rural Funds Group<sup>(b)</sup> | &nbsp;&nbsp; 746503 | 1042043 |
| Sandfire Resources Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3010403 | 17194299 |
| Santos Ltd. | &nbsp;&nbsp; 19844205 | 103445985 |
| Scentre Group | &nbsp;&nbsp; 31038714 | 70781536 |
| SEEK Ltd. | &nbsp;&nbsp; 2171405 | 31445389 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 1198932 | 30760924 |
| Sigma Healthcare Ltd. | &nbsp;&nbsp; 8013683 | 6827826 |
| Silex Systems Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 972012 | 2991846 |
| Sims Ltd. | &nbsp;&nbsp; 1031270 | 6885222 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| SiteMinder Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1275889 | $4687765 |
| SmartGroup Corp. Ltd. | &nbsp;&nbsp; 696211 | 3940030 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 2765562 | 50120738 |
| South32 Ltd. | &nbsp;&nbsp; 27599010 | 55355185 |
| Stanmore Resources Ltd. | &nbsp;&nbsp; 1669345 | 4064802 |
| Star Entertainment Group Ltd. (The)<sup>(a)</sup> | &nbsp;&nbsp; 14003697 | 5352219 |
| Steadfast Group Ltd. | &nbsp;&nbsp; 6611059 | 28063191 |
| Stockland | &nbsp;&nbsp; 14370695 | 43405388 |
| Strike Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 12639264 | 1652436 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 7588723 | 88295704 |
| Super Retail Group Ltd. | &nbsp;&nbsp; 990088 | 10371870 |
| Tabcorp Holdings Ltd. | &nbsp;&nbsp; 13403049 | 5671081 |
| Technology One Ltd. | &nbsp;&nbsp; 1776956 | 24003943 |
| Telix Pharmaceuticals Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1509428 | 18949323 |
| Telstra Group Ltd. | &nbsp;&nbsp; 24338994 | 62898380 |
| Temple & Webster Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 589928 | 3776877 |
| Transurban Group | &nbsp;&nbsp; 18541063 | 158225634 |
| Treasury Wine Estates Ltd. | &nbsp;&nbsp; 4948847 | 40009051 |
| Ventia Services Group Pty Ltd. | &nbsp;&nbsp; 5230562 | 15059039 |
| Vicinity Ltd. | &nbsp;&nbsp; 23143957 | 32091400 |
| Viva Energy Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 6794211 | 14493081 |
| Vulcan Steel Ltd. | &nbsp;&nbsp; 422881 | 1730291 |
| WA1 Resources Ltd., NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 201554 | 2102046 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 1434612 | 33391164 |
| Waypoint REIT Ltd. | &nbsp;&nbsp; 3942719 | 6548171 |
| Webjet Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 2448867 | 14325759 |
| Weebit Nano Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1207609 | 1866757 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 6868280 | 331478285 |
| West African Resources Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6270391 | 6163773 |
| Westgold Resources Ltd. | &nbsp;&nbsp; 5676449 | 9752435 |
| Westpac Banking Corp. | &nbsp;&nbsp; 20992236 | 410247071 |
| Whitehaven Coal Ltd. | &nbsp;&nbsp; 4863363 | 24552482 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 1011815 | 63401456 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 11527821 | 209054789 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 7413214 | 167265598 |
| Worley Ltd. | &nbsp;&nbsp; 2839246 | 28162280 |
| Xero Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 883970 | 80544830 |
| Yancoal Australia Ltd., NVS | &nbsp;&nbsp; 2285235 | 10590904 |
| Zip Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 7217724 | 9119906 |
|  |  | 9157339945 |
| **Austria — 0.3%** | **Austria — 0.3%** | **Austria — 0.3%** |
| Andritz AG | &nbsp;&nbsp; 402486 | 25783364 |
| AT&S Austria Technologie & <br> Systemtechnik AG<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 152164 | 3247653 |
| BAWAG Group AG<sup>(c)</sup> | &nbsp;&nbsp; 470425 | 34355113 |
| CA Immobilien Anlagen AG<sup>(b)</sup> | &nbsp;&nbsp; 307570 | 10052602 |
| DO & CO AG | &nbsp;&nbsp; 45917 | 7737264 |
| Erste Group Bank AG | &nbsp;&nbsp; 2043256 | 106282533 |
| EVN AG | &nbsp;&nbsp; 219234 | 7165798 |
| Immofinanz AG<sup>(a)</sup> | &nbsp;&nbsp; 236402 | 7013876 |
| Lenzing AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 127884 | 4453768 |
| Oesterreichische Post AG | &nbsp;&nbsp; 206542 | 6817667 |
| OMV AG | &nbsp;&nbsp; 881189 | 36869035 |
| Palfinger AG<sup>(b)</sup> | &nbsp;&nbsp; 20535 | 502262 |
| Porr AG | &nbsp;&nbsp; 21812 | 331953 |
| Raiffeisen Bank International AG | &nbsp;&nbsp; 812175 | 15833609 |
| Schoeller-Bleckmann Oilfield Equipment AG<sup>(b)</sup> | &nbsp;&nbsp; 44255 | 1758893 |
| UNIQA Insurance Group AG | &nbsp;&nbsp; 846499 | 7247245 |
| Verbund AG | &nbsp;&nbsp; 407736 | 32739406 |
| Vienna Insurance Group AG Wiener <br> Versicherung Gruppe<br>| &nbsp;&nbsp; 257998 | 8309826 |
| voestalpine AG | &nbsp;&nbsp; 665821 | 17076211 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Austria (continued)** | **Austria (continued)** | **Austria (continued)** |
| Wienerberger AG | &nbsp;&nbsp; 684292 | $24261236 |
|  |  | 357839314 |
| **Belgium — 1.0%** | **Belgium — 1.0%** | **Belgium — 1.0%** |
| Ackermans & van Haaren NV | &nbsp;&nbsp; 133109 | 25538217 |
| Aedifica SA | &nbsp;&nbsp; 286137 | 18187613 |
| Ageas SA/NV | &nbsp;&nbsp; 947698 | 45244266 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 5423076 | 321990598 |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 359952 | 184038495 |
| Barco NV | &nbsp;&nbsp; 437590 | 5652405 |
| Bekaert SA | &nbsp;&nbsp; 245925 | 10069806 |
| bpost SA | &nbsp;&nbsp; 564460 | 1612741 |
| Cofinimmo SA | &nbsp;&nbsp; 210299 | 13520642 |
| Colruyt Group NV | &nbsp;&nbsp; 310975 | 14916566 |
| Deme Group NV | &nbsp;&nbsp; 46969 | 8459616 |
| D'ieteren Group | &nbsp;&nbsp; 146116 | 33580110 |
| Elia Group SA/NV | &nbsp;&nbsp; 197562 | 20518831 |
| Fagron | &nbsp;&nbsp; 479112 | 9858611 |
| Galapagos NV<sup>(a)</sup> | &nbsp;&nbsp; 265793 | 7105670 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 580391 | 43314055 |
| KBC Ancora | &nbsp;&nbsp; 272345 | 13243805 |
| KBC Group NV | &nbsp;&nbsp; 1500193 | 116033804 |
| Kinepolis Group NV<sup>(b)</sup> | &nbsp;&nbsp; 101216 | 4099291 |
| Lotus Bakeries NV | &nbsp;&nbsp; 2449 | 26610317 |
| Melexis NV | &nbsp;&nbsp; 128636 | 11214131 |
| Montea NV | &nbsp;&nbsp; 80091 | 6946744 |
| Ontex Group NV<sup>(a)</sup> | &nbsp;&nbsp; 409717 | 3850484 |
| Proximus SADP | &nbsp;&nbsp; 813873 | 5886031 |
| Recticel SA<sup>(b)</sup> | &nbsp;&nbsp; 153282 | 2050417 |
| Retail Estates NV | &nbsp;&nbsp; 57682 | 3935250 |
| Shurgard Self Storage Ltd. | &nbsp;&nbsp; 155964 | 6097657 |
| Sofina SA | &nbsp;&nbsp; 92045 | 21748126 |
| Solvay SA | &nbsp;&nbsp; 430376 | 15151179 |
| Syensqo SA | &nbsp;&nbsp; 446582 | 39490256 |
| Tessenderlo Group SA | &nbsp;&nbsp; 244964 | 6537317 |
| UCB SA | &nbsp;&nbsp; 766119 | 128014110 |
| Umicore SA | &nbsp;&nbsp; 1230155 | 16895048 |
| VGP NV | &nbsp;&nbsp; 81519 | 8832303 |
| Warehouses De Pauw CVA | &nbsp;&nbsp; 1057122 | 28636553 |
| Xior Student Housing NV | &nbsp;&nbsp; 167646 | 5637495 |
|  |  | 1234518560 |
| **China — 0.0%** | **China — 0.0%** | **China — 0.0%** |
| OSL Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1309068 | 968563 |
| **Denmark — 3.5%** | **Denmark — 3.5%** | **Denmark — 3.5%** |
| ALK-Abello A/S<sup>(a)</sup> | &nbsp;&nbsp; 869682 | 19602533 |
| Alm Brand A/S | &nbsp;&nbsp; 5378349 | 10260603 |
| Ambu A/S, Class B<sup>(a)</sup> | &nbsp;&nbsp; 1128334 | 22912343 |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 16834 | 27345744 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 28087 | 46465394 |
| Bavarian Nordic A/S<sup>(a)(b)</sup> | &nbsp;&nbsp; 468824 | 12636514 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 574024 | 69317385 |
| cBrain A/S | &nbsp;&nbsp; 58919 | 2184967 |
| Chemometec A/S | &nbsp;&nbsp; 96204 | 5333393 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 785544 | 102121112 |
| D/S Norden A/S | &nbsp;&nbsp; 153982 | 6660864 |
| Danske Bank A/S | &nbsp;&nbsp; 4115242 | 125854325 |
| Demant A/S<sup>(a)</sup> | &nbsp;&nbsp; 601042 | 23043602 |
| DFDS A/S | &nbsp;&nbsp; 219820 | 6029433 |
| DSV A/S | &nbsp;&nbsp; 1040722 | 190914844 |
| FLSmidth & Co. A/S<sup>(b)</sup> | &nbsp;&nbsp; 299225 | 15264438 |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 400153 | 113031864 |
| GN Store Nord A/S<sup>(a)</sup> | &nbsp;&nbsp; 820901 | 21570997 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| H Lundbeck A/S | &nbsp;&nbsp; 1586516 | $9925791 |
| H Lundbeck A/S, Class A | &nbsp;&nbsp; 397398 | 2137608 |
| ISS A/S<sup>(b)</sup> | &nbsp;&nbsp; 911736 | 16665218 |
| Jyske Bank A/S, Registered | &nbsp;&nbsp; 283982 | 23151035 |
| Matas A/S | &nbsp;&nbsp; 310924 | 5312683 |
| Netcompany Group A/S<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 268608 | 11432442 |
| Nilfisk Holding A/S<sup>(a)</sup> | &nbsp;&nbsp; 98724 | 1839509 |
| NKT A/S<sup>(a)</sup> | &nbsp;&nbsp; 330023 | 29707962 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 19729661 | 2614039708 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 2252099 | 143362380 |
| NTG Nordic Transport Group A/S, Class A<sup>(a)</sup> | &nbsp;&nbsp; 36371 | 1542648 |
| Orsted A/S<sup>(a)(c)</sup> | &nbsp;&nbsp; 1140443 | 67974967 |
| Pandora A/S | &nbsp;&nbsp; 515955 | 80877654 |
| Per Aarsleff Holding A/S | &nbsp;&nbsp; 143271 | 8196828 |
| Ringkjoebing Landbobank A/S | &nbsp;&nbsp; 188435 | 33351864 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 56118 | 24804863 |
| Royal Unibrew A/S<sup>(a)</sup> | &nbsp;&nbsp; 301912 | 23704071 |
| Scandinavian Tobacco Group A/S, Class A<sup>(c)</sup> | &nbsp;&nbsp; 404922 | 5931073 |
| Schouw & Co. A/S | &nbsp;&nbsp; 83797 | 6914826 |
| Spar Nord Bank A/S | &nbsp;&nbsp; 589408 | 12020443 |
| Svitzer A/S, NVS<sup>(a)</sup> | &nbsp;&nbsp; 92339 | 3538675 |
| Sydbank A/S | &nbsp;&nbsp; 379613 | 20465799 |
| Topdanmark A/S | &nbsp;&nbsp; 268410 | 14620587 |
| TORM PLC, Class A | &nbsp;&nbsp; 266475 | 10318953 |
| Tryg A/S | &nbsp;&nbsp; 2070761 | 45337453 |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 6093589 | 150798276 |
| Zealand Pharma A/S<sup>(a)</sup> | &nbsp;&nbsp; 408031 | 54970425 |
|  |  | 4243494096 |
| **Finland — 1.0%** | **Finland — 1.0%** | **Finland — 1.0%** |
| Cargotec OYJ, Class B | &nbsp;&nbsp; 249218 | 12703293 |
| Citycon OYJ | &nbsp;&nbsp; 593443 | 2613437 |
| Elisa OYJ | &nbsp;&nbsp; 857615 | 39931770 |
| Finnair OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 169232 | 430935 |
| Fortum OYJ | &nbsp;&nbsp; 2708334 | 41646004 |
| Huhtamaki OYJ | &nbsp;&nbsp; 598710 | 24259389 |
| Kalmar OYJ<sup>(a)</sup> | &nbsp;&nbsp; 249218 | 7368646 |
| Kemira OYJ | &nbsp;&nbsp; 690674 | 15622371 |
| Kempower OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 103851 | 1681395 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 1655451 | 29944957 |
| Kojamo OYJ<sup>(a)</sup> | &nbsp;&nbsp; 790367 | 7816526 |
| Kone OYJ, Class B | &nbsp;&nbsp; 2056659 | 105022424 |
| Konecranes OYJ | &nbsp;&nbsp; 407287 | 28450338 |
| Mandatum OYJ | &nbsp;&nbsp; 2666105 | 12348136 |
| Marimekko OYJ | &nbsp;&nbsp; 59576 | 882033 |
| Metsa Board OYJ, Class B | &nbsp;&nbsp; 1189441 | 9088524 |
| Metso OYJ | &nbsp;&nbsp; 3970511 | 40342510 |
| Neste OYJ | &nbsp;&nbsp; 2548301 | 51431920 |
| Nokia OYJ | &nbsp;&nbsp; 31974244 | 125655598 |
| Nokian Renkaat OYJ | &nbsp;&nbsp; 756698 | 6904311 |
| Nordea Bank Abp | &nbsp;&nbsp; 18919762 | 221394044 |
| Orion OYJ, Class B | &nbsp;&nbsp; 656709 | 30184417 |
| Outokumpu OYJ | &nbsp;&nbsp; 2148009 | 7744659 |
| Puuilo OYJ | &nbsp;&nbsp; 206586 | 2268964 |
| QT Group OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 116491 | 10366492 |
| Revenio Group OYJ | &nbsp;&nbsp; 122273 | 3801530 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 2730663 | 119698870 |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 3552788 | 44413812 |
| TietoEVRY OYJ | &nbsp;&nbsp; 596527 | 12096604 |
| Tokmanni Group Corp. | &nbsp;&nbsp; 196172 | 2401194 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 3237063 | 107069141 |
| Valmet OYJ | &nbsp;&nbsp; 944862 | 26759095 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 3043304 | 62889378 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Finland (continued)** | **Finland (continued)** | **Finland (continued)** |
| YIT OYJ<sup>(b)</sup> | &nbsp;&nbsp; 1091406 | $2740193 |
|  |  | 1217972910 |
| **France — 10.0%** | **France — 10.0%** | **France — 10.0%** |
| Accor SA | &nbsp;&nbsp; 1166414 | 44887247 |
| Aeroports de Paris SA | &nbsp;&nbsp; 232332 | 30525248 |
| Air France-KLM, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 694818 | 6178280 |
| Air Liquide SA | &nbsp;&nbsp; 3486407 | 636124492 |
| Airbus SE | &nbsp;&nbsp; 3576878 | 541276741 |
| Alstom SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 2085582 | 40861976 |
| Altarea SCA<sup>(b)</sup> | &nbsp;&nbsp; 19565 | 2115304 |
| Alten SA | &nbsp;&nbsp; 181476 | 19959074 |
| Amundi SA<sup>(c)</sup> | &nbsp;&nbsp; 344104 | 25112943 |
| Antin Infrastructure Partners SA | &nbsp;&nbsp; 197677 | 2675778 |
| Aperam SA | &nbsp;&nbsp; 301081 | 8181426 |
| ArcelorMittal SA | &nbsp;&nbsp; 2974203 | 67724637 |
| Arkema SA | &nbsp;&nbsp; 349639 | 31552418 |
| Aubay | &nbsp;&nbsp; 3120 | 123511 |
| AXA SA | &nbsp;&nbsp; 10839331 | 380566763 |
| Beneteau SACA<sup>(b)</sup> | &nbsp;&nbsp; 160678 | 1566484 |
| BioMerieux | &nbsp;&nbsp; 245235 | 25878781 |
| BNP Paribas SA | &nbsp;&nbsp; 6223672 | 426406909 |
| Bollore SE | &nbsp;&nbsp; 4255909 | 26492346 |
| Bouygues SA | &nbsp;&nbsp; 1282940 | 44294781 |
| Bureau Veritas SA | &nbsp;&nbsp; 1891298 | 59177218 |
| Capgemini SE | &nbsp;&nbsp; 950741 | 188744378 |
| Carmila SA | &nbsp;&nbsp; 362964 | 6555779 |
| Carrefour SA | &nbsp;&nbsp; 3511894 | 52387733 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 2767345 | 237398725 |
| Cie. des Alpes | &nbsp;&nbsp; 15118 | 216470 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 4099168 | 162281298 |
| Coface SA | &nbsp;&nbsp; 683171 | 10342899 |
| Covivio SA/France | &nbsp;&nbsp; 281265 | 14478735 |
| Credit Agricole SA | &nbsp;&nbsp; 6400956 | 97137471 |
| Danone SA | &nbsp;&nbsp; 3880626 | 252105049 |
| Dassault Aviation SA | &nbsp;&nbsp; 120493 | 24259338 |
| Dassault Systemes SE | &nbsp;&nbsp; 4022759 | 152497822 |
| Derichebourg SA | &nbsp;&nbsp; 735741 | 3788760 |
| Edenred SE | &nbsp;&nbsp; 1501758 | 62531351 |
| Eiffage SA | &nbsp;&nbsp; 432109 | 43004230 |
| Elior Group SA<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 747288 | 2593506 |
| Elis SA | &nbsp;&nbsp; 1123315 | 25977037 |
| Engie SA | &nbsp;&nbsp; 10958768 | 172273603 |
| Equasens<sup>(b)</sup> | &nbsp;&nbsp; 29714 | 1547044 |
| Eramet SA | &nbsp;&nbsp; 54669 | 4643534 |
| Esker SA | &nbsp;&nbsp; 26173 | 5747328 |
| EssilorLuxottica SA | &nbsp;&nbsp; 1780114 | 407360687 |
| Esso SA Francaise | &nbsp;&nbsp; 12614 | 1984490 |
| Etablissements Maurel et Prom SA | &nbsp;&nbsp; 363780 | 2221406 |
| Eurazeo SE | &nbsp;&nbsp; 269806 | 21227042 |
| Eurofins Scientific SE | &nbsp;&nbsp; 811809 | 48062234 |
| Euronext NV<sup>(c)</sup> | &nbsp;&nbsp; 494876 | 50033418 |
| Eutelsat Communications SACA<sup>(a)(b)</sup> | &nbsp;&nbsp; 957725 | 4949752 |
| Fnac Darty SA<sup>(b)</sup> | &nbsp;&nbsp; 111213 | 3300859 |
| Forvia SE | &nbsp;&nbsp; 913734 | 10702510 |
| Gaztransport Et Technigaz SA | &nbsp;&nbsp; 212623 | 31328948 |
| Gecina SA | &nbsp;&nbsp; 267177 | 26487317 |
| Getlink SE | &nbsp;&nbsp; 2063628 | 36773541 |
| Hermes International SCA | &nbsp;&nbsp; 191899 | 419363530 |
| ICADE | &nbsp;&nbsp; 190530 | 4234706 |
| ID Logistics Group SACA<sup>(a)</sup> | &nbsp;&nbsp; 14630 | 7074555 |
| Imerys SA | &nbsp;&nbsp; 219650 | 7463020 |
| Interparfums SA | &nbsp;&nbsp; 131341 | 6674449 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Ipsen SA | &nbsp;&nbsp; 223932 | $25143118 |
| IPSOS SA | &nbsp;&nbsp; 251340 | 15511994 |
| JCDecaux SE<sup>(a)</sup> | &nbsp;&nbsp; 358070 | 7464868 |
| Kaufman & Broad SA | &nbsp;&nbsp; 60310 | 2062520 |
| Kering SA | &nbsp;&nbsp; 449380 | 138021557 |
| Klepierre SA | &nbsp;&nbsp; 1301962 | 37281113 |
| La Francaise des Jeux SAEM<sup>(c)</sup> | &nbsp;&nbsp; 619330 | 24029216 |
| Legrand SA | &nbsp;&nbsp; 1600752 | 172956307 |
| LISI SA | &nbsp;&nbsp; 123336 | 3395706 |
| L'Oreal SA | &nbsp;&nbsp; 1454195 | 628862905 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 1667917 | 1176485611 |
| Mercialys SA | &nbsp;&nbsp; 550309 | 6972945 |
| Mersen SA | &nbsp;&nbsp; 173474 | 6013044 |
| Metropole Television SA | &nbsp;&nbsp; 230689 | 3011193 |
| Neoen SA<sup>(c)</sup> | &nbsp;&nbsp; 424108 | 17684447 |
| Nexans SA | &nbsp;&nbsp; 186286 | 24076752 |
| Nexity SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 282892 | 3188412 |
| Opmobility | &nbsp;&nbsp; 389647 | 4085036 |
| Orange SA | &nbsp;&nbsp; 10948309 | 121496287 |
| Orpea SA, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 431442 | 4833639 |
| Pernod Ricard SA | &nbsp;&nbsp; 1230854 | 164697039 |
| Peugeot Invest SA | &nbsp;&nbsp; 38340 | 3471367 |
| Pierre & Vacances SA, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 786200 | 1166948 |
| Pluxee NV, NVS<sup>(a)</sup> | &nbsp;&nbsp; 553143 | 12965588 |
| Publicis Groupe SA | &nbsp;&nbsp; 1371237 | 143152257 |
| Quadient SA | &nbsp;&nbsp; 239483 | 4750597 |
| Remy Cointreau SA | &nbsp;&nbsp; 135129 | 10662444 |
| Renault SA | &nbsp;&nbsp; 1159069 | 56170959 |
| Rexel SA | &nbsp;&nbsp; 1396110 | 35470817 |
| Rubis SCA | &nbsp;&nbsp; 563938 | 17662212 |
| Safran SA | &nbsp;&nbsp; 2066471 | 453988460 |
| Sanofi SA | &nbsp;&nbsp; 6878519 | 709123541 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 173890 | 34699858 |
| Schneider Electric SE | &nbsp;&nbsp; 3293819 | 793926211 |
| SCOR SE | &nbsp;&nbsp; 874035 | 18706342 |
| SEB SA | &nbsp;&nbsp; 144509 | 14460709 |
| Seche Environnement SACA, NVS | &nbsp;&nbsp; 13468 | 1469812 |
| SES SA, Class A | &nbsp;&nbsp; 2112034 | 11420265 |
| Societe BIC SA | &nbsp;&nbsp; 143445 | 8999972 |
| Societe Generale SA | &nbsp;&nbsp; 4316125 | 111947171 |
| Sodexo SA | &nbsp;&nbsp; 523098 | 49541199 |
| SOITEC<sup>(a)(b)</sup> | &nbsp;&nbsp; 158914 | 20489004 |
| Sopra Steria Group SACA | &nbsp;&nbsp; 95739 | 17745712 |
| SPIE SA | &nbsp;&nbsp; 838421 | 32409073 |
| STMicroelectronics NV | &nbsp;&nbsp; 4109085 | 135857992 |
| Technip Energies NV | &nbsp;&nbsp; 916724 | 23354900 |
| Teleperformance SE | &nbsp;&nbsp; 337730 | 43477788 |
| Television Francaise 1 SA | &nbsp;&nbsp; 409638 | 3604486 |
| Thales SA | &nbsp;&nbsp; 602382 | 95750696 |
| TotalEnergies SE | &nbsp;&nbsp; 12976712 | 875490623 |
| Trigano SA | &nbsp;&nbsp; 64040 | 7508899 |
| Ubisoft Entertainment SA<sup>(a)</sup> | &nbsp;&nbsp; 559179 | 11487449 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 715304 | 53491305 |
| Valeo SE | &nbsp;&nbsp; 1232371 | 14082499 |
| Vallourec SACA<sup>(a)</sup> | &nbsp;&nbsp; 983589 | 15903279 |
| Valneva SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 650423 | 2317954 |
| Veolia Environnement SA | &nbsp;&nbsp; 4139354 | 130032437 |
| Verallia SA<sup>(c)</sup> | &nbsp;&nbsp; 425965 | 12529924 |
| Vicat SACA | &nbsp;&nbsp; 91963 | 3198086 |
| Vinci SA | &nbsp;&nbsp; 3017840 | 344389662 |
| Virbac SACA | &nbsp;&nbsp; 30344 | 11551156 |
| Vivendi SE | &nbsp;&nbsp; 4275991 | 45628051 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Voltalia SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 181204 | $2014248 |
| VusionGroup<sup>(b)</sup> | &nbsp;&nbsp; 45137 | 6578419 |
| Wavestone | &nbsp;&nbsp; 46234 | 2685893 |
| Wendel SE | &nbsp;&nbsp; 147327 | 14115628 |
| Worldline SA/France<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 1423310 | 16150119 |
| X-Fab Silicon Foundries SE<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 297082 | 1900565 |
|  |  | 12056213196 |
| **Germany — 7.5%** | **Germany — 7.5%** | **Germany — 7.5%** |
| 1&1 AG | &nbsp;&nbsp; 257272 | 4141445 |
| About You Holding SE<sup>(a)</sup> | &nbsp;&nbsp; 137551 | 519704 |
| Adesso SE<sup>(b)</sup> | &nbsp;&nbsp; 17768 | 1756734 |
| adidas AG | &nbsp;&nbsp; 983142 | 246372689 |
| Adtran Networks SE | &nbsp;&nbsp; 103674 | 2156507 |
| AIXTRON SE<sup>(b)</sup> | &nbsp;&nbsp; 685208 | 15999299 |
| Allianz SE, Registered | &nbsp;&nbsp; 2363654 | 665759521 |
| Amadeus Fire AG | &nbsp;&nbsp; 21525 | 2211822 |
| Aroundtown SA<sup>(a)</sup> | &nbsp;&nbsp; 5040102 | 10752451 |
| Atoss Software SE | &nbsp;&nbsp; 41380 | 6100058 |
| Aurubis AG | &nbsp;&nbsp; 192225 | 14990711 |
| Auto1 Group SE<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 594330 | 5004087 |
| BASF SE | &nbsp;&nbsp; 5403196 | 251557341 |
| Bayer AG, Registered | &nbsp;&nbsp; 5941782 | 176772099 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 1895757 | 175829796 |
| BayWa AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 92049 | 1292695 |
| Bechtle AG | &nbsp;&nbsp; 488277 | 21578707 |
| Befesa SA<sup>(c)</sup> | &nbsp;&nbsp; 226648 | 7036634 |
| Beiersdorf AG | &nbsp;&nbsp; 624505 | 90645039 |
| Bilfinger SE | &nbsp;&nbsp; 206364 | 11569849 |
| Borussia Dortmund GmbH & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 580447 | 2289826 |
| Brenntag SE | &nbsp;&nbsp; 819598 | 58303180 |
| CANCOM SE | &nbsp;&nbsp; 222780 | 7903620 |
| Carl Zeiss Meditec AG, Bearer | &nbsp;&nbsp; 245355 | 16785856 |
| Ceconomy AG<sup>(a)</sup> | &nbsp;&nbsp; 754482 | 2275662 |
| Cewe Stiftung & Co. KGaA | &nbsp;&nbsp; 51432 | 5506791 |
| Commerzbank AG | &nbsp;&nbsp; 6366988 | 103797647 |
| CompuGroup Medical SE & Co. KgaA | &nbsp;&nbsp; 157524 | 2731958 |
| Continental AG | &nbsp;&nbsp; 666530 | 40860823 |
| Covestro AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 1152551 | 67849338 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 380388 | 33506007 |
| CureVac NV<sup>(a)</sup> | &nbsp;&nbsp; 567071 | 2037595 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 3240315 | 125105141 |
| Datagroup SE | &nbsp;&nbsp; 2288 | 103838 |
| Delivery Hero SE, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 1156199 | 25723324 |
| Dermapharm Holding SE | &nbsp;&nbsp; 109077 | 4178386 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 11508932 | 179141988 |
| Deutsche Boerse AG | &nbsp;&nbsp; 1148046 | 235083588 |
| Deutsche Lufthansa AG, Registered | &nbsp;&nbsp; 3555286 | 22280207 |
| Deutsche Pfandbriefbank AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 783549 | 4421885 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 5979342 | 266711730 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 19622741 | 513281505 |
| Deutz AG | &nbsp;&nbsp; 891787 | 5136424 |
| Duerr AG | &nbsp;&nbsp; 324955 | 7147253 |
| E.ON SE | &nbsp;&nbsp; 13639921 | 191274236 |
| Eckert & Ziegler SE | &nbsp;&nbsp; 89867 | 4205891 |
| Elmos Semiconductor SE<sup>(b)</sup> | &nbsp;&nbsp; 47052 | 3846062 |
| ElringKlinger AG | &nbsp;&nbsp; 74463 | 390044 |
| Encavis AG, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 766920 | 14373989 |
| Energiekontor AG | &nbsp;&nbsp; 31426 | 2210639 |
| Evonik Industries AG | &nbsp;&nbsp; 1577230 | 31941585 |
| Evotec SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 863591 | 8137257 |
| Fielmann Group AG | &nbsp;&nbsp; 139073 | 6296516 |
| flatexDEGIRO AG | &nbsp;&nbsp; 453000 | 6397102 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Fraport AG Frankfurt Airport <br> Services Worldwide<sup>(a)</sup><br>| &nbsp;&nbsp; 223818 | $11366214 |
| Freenet AG | &nbsp;&nbsp; 731602 | 20244946 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 1235570 | 47677988 |
| Fresenius SE & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 2564757 | 91897184 |
| GEA Group AG | &nbsp;&nbsp; 1011380 | 44657950 |
| Gerresheimer AG<sup>(b)</sup> | &nbsp;&nbsp; 207719 | 21475506 |
| GFT Technologies SE | &nbsp;&nbsp; 86669 | 2225621 |
| Grand City Properties SA<sup>(a)</sup> | &nbsp;&nbsp; 567421 | 6688749 |
| Grenke AG | &nbsp;&nbsp; 159708 | 4931744 |
| Hamborner REIT AG | &nbsp;&nbsp; 622459 | 4379270 |
| Hamburger Hafen und Logistik AG, NVS | &nbsp;&nbsp; 154328 | 2588833 |
| Hannover Rueck SE | &nbsp;&nbsp; 365206 | 90677186 |
| Heidelberg Materials AG | &nbsp;&nbsp; 838603 | 87364971 |
| HelloFresh SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 973094 | 6078674 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 587718 | 45538082 |
| Hensoldt AG | &nbsp;&nbsp; 380979 | 14096669 |
| Hornbach Holding AG & Co. KGaA | &nbsp;&nbsp; 57455 | 4709269 |
| Hugo Boss AG<sup>(b)</sup> | &nbsp;&nbsp; 348922 | 13866323 |
| Hypoport SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 29074 | 8640885 |
| Infineon Technologies AG | &nbsp;&nbsp; 7916781 | 275014237 |
| Jenoptik AG | &nbsp;&nbsp; 335313 | 9560348 |
| JOST Werke SE<sup>(c)</sup> | &nbsp;&nbsp; 34089 | 1540875 |
| K+S AG, Registered<sup>(b)</sup> | &nbsp;&nbsp; 1109670 | 14295496 |
| KION Group AG | &nbsp;&nbsp; 432744 | 17114953 |
| Kloeckner & Co. SE | &nbsp;&nbsp; 407635 | 2248914 |
| Knorr-Bremse AG | &nbsp;&nbsp; 445410 | 35818012 |
| Kontron AG<sup>(b)</sup> | &nbsp;&nbsp; 319287 | 6764797 |
| Krones AG | &nbsp;&nbsp; 95439 | 12912327 |
| Lanxess AG | &nbsp;&nbsp; 520869 | 13598118 |
| LEG Immobilien SE | &nbsp;&nbsp; 451775 | 39409002 |
| MBB SE | &nbsp;&nbsp; 694 | 77597 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 4854892 | 320929835 |
| Merck KGaA | &nbsp;&nbsp; 782489 | 139809089 |
| METRO AG | &nbsp;&nbsp; 890054 | 4053028 |
| MTU Aero Engines AG | &nbsp;&nbsp; 327752 | 92807444 |
| Muenchener Rueckversicherungs-Gesellschaft <br> AG in Muenchen, Registered<br>| &nbsp;&nbsp; 826146 | 406897361 |
| Nagarro SE<sup>(a)</sup> | &nbsp;&nbsp; 50108 | 4357456 |
| Nemetschek SE | &nbsp;&nbsp; 349769 | 33408569 |
| Nordex SE<sup>(a)</sup> | &nbsp;&nbsp; 780313 | 11830428 |
| Norma Group SE | &nbsp;&nbsp; 210620 | 3916069 |
| Patrizia SE | &nbsp;&nbsp; 336861 | 2653611 |
| Pfeiffer Vacuum Technology AG | &nbsp;&nbsp; 40800 | 6957757 |
| PNE AG<sup>(b)</sup> | &nbsp;&nbsp; 152809 | 2431050 |
| ProSiebenSat.1 Media SE<sup>(b)</sup> | &nbsp;&nbsp; 975184 | 6690092 |
| Puma SE | &nbsp;&nbsp; 642091 | 31862554 |
| PVA TePla AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 107897 | 1685720 |
| Qiagen NV, NVS | &nbsp;&nbsp; 1327168 | 59050932 |
| Rational AG | &nbsp;&nbsp; 31059 | 27188332 |
| Redcare Pharmacy NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 92405 | 13833346 |
| RENK Group AG<sup>(a)</sup> | &nbsp;&nbsp; 157780 | 4475551 |
| Rheinmetall AG | &nbsp;&nbsp; 264534 | 144080105 |
| RWE AG | &nbsp;&nbsp; 3838698 | 143263669 |
| SAF-Holland SE | &nbsp;&nbsp; 249980 | 5113841 |
| Salzgitter AG<sup>(b)</sup> | &nbsp;&nbsp; 163827 | 2937450 |
| SAP SE | &nbsp;&nbsp; 6315506 | 1335225766 |
| Schott Pharma AG & Co. KGaA<sup>(b)</sup> | &nbsp;&nbsp; 193242 | 6659892 |
| Scout24 SE<sup>(c)</sup> | &nbsp;&nbsp; 463386 | 36634101 |
| Secunet Security Networks AG | &nbsp;&nbsp; 9069 | 1199495 |
| SGL Carbon SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 446191 | 2996684 |
| Siemens AG, Registered | &nbsp;&nbsp; 4603609 | 842906917 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 3636018 | $105584646 |
| Siemens Healthineers AG<sup>(c)</sup> | &nbsp;&nbsp; 1723348 | 92369913 |
| Siltronic AG<sup>(b)</sup> | &nbsp;&nbsp; 115750 | 9439915 |
| Sixt SE<sup>(b)</sup> | &nbsp;&nbsp; 88627 | 6184022 |
| SMA Solar Technology AG | &nbsp;&nbsp; 108202 | 2910111 |
| Stabilus SE | &nbsp;&nbsp; 152122 | 7444177 |
| Steico SE<sup>(b)</sup> | &nbsp;&nbsp; 30090 | 889706 |
| Stratec SE | &nbsp;&nbsp; 44237 | 1946139 |
| Stroeer SE & Co. KGaA | &nbsp;&nbsp; 218715 | 14787420 |
| Suedzucker AG | &nbsp;&nbsp; 441518 | 5820004 |
| SUESS MicroTec SE | &nbsp;&nbsp; 113866 | 7732222 |
| Symrise AG, Class A | &nbsp;&nbsp; 812615 | 102414975 |
| TAG Immobilien AG<sup>(a)</sup> | &nbsp;&nbsp; 1067136 | 16077179 |
| Takkt AG | &nbsp;&nbsp; 212763 | 2463811 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 381082 | 28951339 |
| TeamViewer SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 889480 | 11996356 |
| thyssenkrupp AG | &nbsp;&nbsp; 2929087 | 11215468 |
| TUI AG<sup>(a)</sup> | &nbsp;&nbsp; 2729442 | 17601742 |
| United Internet AG, Registered<sup>(e)</sup> | &nbsp;&nbsp; 561619 | 12456261 |
| Verbio SE | &nbsp;&nbsp; 127815 | 2403017 |
| Vib Vermoegen AG<sup>(a)</sup> | &nbsp;&nbsp; 46597 | 411506 |
| Volkswagen AG | &nbsp;&nbsp; 174865 | 20632154 |
| Vonovia SE | &nbsp;&nbsp; 4451545 | 136485253 |
| Vossloh AG | &nbsp;&nbsp; 72748 | 3867355 |
| Wacker Chemie AG | &nbsp;&nbsp; 111336 | 11127911 |
| Wacker Neuson SE | &nbsp;&nbsp; 215871 | 3360210 |
| Zalando SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 1353143 | 34673304 |
|  |  | 9037847081 |
| **Hong Kong — 1.7%** | **Hong Kong — 1.7%** | **Hong Kong — 1.7%** |
| AIA Group Ltd. | &nbsp;&nbsp; 68002000 | 454855554 |
| ASMPT Ltd. | &nbsp;&nbsp; 1909500 | 19964885 |
| Bank of East Asia Ltd. (The) | &nbsp;&nbsp; 6948000 | 8763414 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 22141500 | 64416743 |
| Brightoil Petroleum Holdings Ltd.<sup>(b)(d)</sup> | &nbsp;&nbsp; 6240000 | 8 |
| Cafe de Coral Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1634000 | 1683235 |
| CITIC Telecom International Holdings Ltd. | &nbsp;&nbsp; 13489000 | 3594424 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 11802516 | 45098237 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 16088516 | 84048145 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 3938000 | 26265467 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 9989500 | 85736045 |
| C-Mer Eye Care Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 3252000 | 1089724 |
| Cowell e Holdings Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1587000 | 4352966 |
| Dah Sing Banking Group Ltd. | &nbsp;&nbsp; 3350800 | 2653486 |
| Dah Sing Financial Holdings Ltd. | &nbsp;&nbsp; 984000 | 2574246 |
| E-Commodities Holdings Ltd. | &nbsp;&nbsp; 8612000 | 1741613 |
| ESR Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 11317600 | 17110323 |
| First Pacific Co. Ltd. | &nbsp;&nbsp; 15112250 | 6726169 |
| Fortune REIT | &nbsp;&nbsp; 8500000 | 4069763 |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 346834 | 21947656 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 13302000 | 55920570 |
| Guotai Junan International Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 26355000 | 2254993 |
| Hang Lung Properties Ltd. | &nbsp;&nbsp; 11353000 | 8325078 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 4606700 | 56412837 |
| Health and Happiness H&H International <br> Holdings Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp; 1099500 | 1208868 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 8554570 | 24028267 |
| HKBN Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5210500 | 1650416 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 22907200 | 27744336 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 68269864 | 55631238 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 7282500 | 214812047 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 6739600 | 21766293 |
| Hsin Chong Group Holdings Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 7490000 | 10 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| Hutchison Telecommunications Hong Kong <br> Holdings Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp; 13936000 | $1801565 |
| Hysan Development Co. Ltd. | &nbsp;&nbsp; 3219000 | 4408390 |
| IGG Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 4750000 | 1719604 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 960300 | 33830345 |
| Johnson Electric Holdings Ltd. | &nbsp;&nbsp; 2364250 | 3268800 |
| JS Global Lifestyle Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 8737500 | 1746449 |
| Kerry Logistics Network Ltd. | &nbsp;&nbsp; 2717387 | 2379020 |
| Kerry Properties Ltd. | &nbsp;&nbsp; 3383000 | 5763388 |
| Link REIT | &nbsp;&nbsp; 15680619 | 66156860 |
| Luk Fook Holdings International Ltd. | &nbsp;&nbsp; 1674000 | 3292410 |
| Man Wah Holdings Ltd. | &nbsp;&nbsp; 9996000 | 5895654 |
| Melco International Development Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 5393000 | 3165739 |
| Melco Resorts & Entertainment Ltd., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 1356155 | 7743645 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 9422500 | 30482677 |
| New World Development Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 8690000 | 8101209 |
| NWS Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 8896166 | 7967539 |
| Pacific Basin Shipping Ltd. | &nbsp;&nbsp; 31646000 | 9501938 |
| PAX Global Technology Ltd. | &nbsp;&nbsp; 2999000 | 1682716 |
| PCCW Ltd. | &nbsp;&nbsp; 26313000 | 13642638 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 8517500 | 54286036 |
| Realord Group Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 2558000 | 1751640 |
| Sands China Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 14732800 | 27618607 |
| Shangri-La Asia Ltd. | &nbsp;&nbsp; 10918000 | 7654586 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 21604000 | 22346271 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 8215000 | 18334049 |
| SJM Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 15009000 | 4837838 |
| SmarTone Telecommunications Holdings Ltd. | &nbsp;&nbsp; 2466500 | 1183468 |
| Stella International Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2130000 | 3549614 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 8671500 | 75082380 |
| SUNeVision Holdings Ltd. | &nbsp;&nbsp; 2109000 | 741429 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 2849000 | 24577684 |
| Swire Properties Ltd. | &nbsp;&nbsp; 6669800 | 10533810 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 8326500 | 106634913 |
| Texhong International Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1281500 | 656099 |
| Theme International Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 24500000 | 1412965 |
| United Energy Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 48140000 | 2064151 |
| United Laboratories International Holdings Ltd. <br> (The)<br>| &nbsp;&nbsp; 5780000 | 6639905 |
| Vitasoy International Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 4456000 | 3196805 |
| Viva Goods Co. Ltd. | &nbsp;&nbsp; 20624000 | 1530305 |
| VSTECS Holdings Ltd. | &nbsp;&nbsp; 2788000 | 1533533 |
| VTech Holdings Ltd. | &nbsp;&nbsp; 992900 | 6532357 |
| WH Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 51208000 | 33287438 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 6161407 | 16893638 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 9839000 | 24188382 |
| Wynn Macau Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 9388800 | 6935462 |
| Xinyi Glass Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 10678000 | 11279795 |
| Yue Yuen Industrial Holdings Ltd. | &nbsp;&nbsp; 4737500 | 7733611 |
|  |  | 2022014413 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| AIB Group PLC | &nbsp;&nbsp; 9502684 | 54508200 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 5933498 | 67196484 |
| Cairn Homes PLC | &nbsp;&nbsp; 3686324 | 7540200 |
| Dalata Hotel Group PLC | &nbsp;&nbsp; 1343326 | 5980434 |
| Glanbia PLC | &nbsp;&nbsp; 1061743 | 21246328 |
| Glenveagh Properties PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 1587277 | 2363735 |
| Irish Residential Properties REIT PLC | &nbsp;&nbsp; 1685082 | 1677785 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 919397 | 85959696 |
| Kingspan Group PLC | &nbsp;&nbsp; 917628 | 85857110 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Ireland (continued)** | **Ireland (continued)** | **Ireland (continued)** |
| Uniphar PLC<sup>(a)</sup> | &nbsp;&nbsp; 961802 | $2714285 |
|  |  | 335044257 |
| **Israel — 1.0%** | **Israel — 1.0%** | **Israel — 1.0%** |
| Africa Israel Residences Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 35391 | 2078883 |
| Airport City Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 530832 | 7335588 |
| Alony Hetz Properties & Investments Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1018157 | 6796034 |
| Amot Investments Ltd. | &nbsp;&nbsp; 1264562 | 5125545 |
| Ashtrom Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 156923 | 1970221 |
| Azorim-Investment Development & Construction <br> Co. Ltd.<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 109767 | 496887 |
| Azrieli Group Ltd. | &nbsp;&nbsp; 272247 | 16709809 |
| Bank Hapoalim BM | &nbsp;&nbsp; 7691834 | 70582846 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 9218750 | 79442485 |
| Bezeq The Israeli Telecommunication Corp. Ltd. | &nbsp;&nbsp; 12908986 | 14632543 |
| Big Shopping Centers Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 84684 | 8270585 |
| Blue Square Real Estate Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 6905 | 473787 |
| Camtek Ltd./Israel | &nbsp;&nbsp; 181978 | 18267400 |
| Cellcom Israel Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 667106 | 2520072 |
| Cellebrite DI Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 352415 | 4828086 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 559512 | 102642476 |
| Clal Insurance Enterprises Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 408379 | 6221260 |
| CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 259511 | 66533430 |
| Danel Adir Yeoshua Ltd. | &nbsp;&nbsp; 34165 | 2800589 |
| Danya Cebus Ltd. | &nbsp;&nbsp; 44543 | 976756 |
| Delek Automotive Systems Ltd. | &nbsp;&nbsp; 331997 | 1818014 |
| Delek Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 60097 | 6219931 |
| Delta Galil Ltd. | &nbsp;&nbsp; 46634 | 2071172 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 167992 | 30068060 |
| Elco Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 20036 | 571252 |
| Electra Consumer Products 1970 Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 74209 | 1432489 |
| Electra Ltd./Israel<sup>(b)</sup> | &nbsp;&nbsp; 10667 | 3909472 |
| Electra Real Estate Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 69256 | 671371 |
| Energix-Renewable Energies Ltd. | &nbsp;&nbsp; 1806443 | 6182960 |
| Enlight Renewable Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 753914 | 11551021 |
| Equital Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 125120 | 3608512 |
| Fattal Holdings 1998 Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 39629 | 4192379 |
| FIBI Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 101636 | 4164169 |
| First International Bank Of Israel Ltd. (The) | &nbsp;&nbsp; 451542 | 18205629 |
| Fiverr International Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 214489 | 5600308 |
| Formula Systems 1985 Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 48903 | 3810079 |
| Fox Wizel Ltd. | &nbsp;&nbsp; 49752 | 3264007 |
| G City Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 857773 | 2375644 |
| Gav-Yam Lands Corp. Ltd. | &nbsp;&nbsp; 0 | 2 |
| Global-e Online Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 614973 | 21105873 |
| Harel Insurance Investments & Financial <br> Services Ltd.<br>| &nbsp;&nbsp; 1016720 | 9132671 |
| Hilan Ltd. | &nbsp;&nbsp; 55086 | 2961098 |
| ICL Group Ltd. | &nbsp;&nbsp; 4662201 | 19516326 |
| Inmode Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 499933 | 9058786 |
| Isracard Ltd. | &nbsp;&nbsp; 1062168 | 3693942 |
| Israel Canada T.R Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 873407 | 3084100 |
| Israel Corp Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 29124 | 6114256 |
| Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 7574257 | 38666686 |
| Isras Holdings Ltd., NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 16734 | 1298966 |
| Isras Investment Co. Ltd. | &nbsp;&nbsp; 10099 | 1835348 |
| Ituran Location and Control Ltd. | &nbsp;&nbsp; 161696 | 4280093 |
| Kenon Holdings Ltd./Singapore<sup>(b)</sup> | &nbsp;&nbsp; 146089 | 3707665 |
| Kornit Digital Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 301678 | 4721261 |
| M Yochananof & Sons Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 4678 | 232075 |
| Magic Software Enterprises Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 148036 | 1569566 |
| Matrix IT Ltd. | &nbsp;&nbsp; 193984 | 3785122 |
| Maytronics Ltd. | &nbsp;&nbsp; 245170 | 1008301 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Israel (continued)** | **Israel (continued)** | **Israel (continued)** |
| Mega Or Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 112662 | $2822983 |
| Melisron Ltd. | &nbsp;&nbsp; 181271 | 12706287 |
| Menora Mivtachim Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 45516 | 1167880 |
| Migdal Insurance & Financial Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3918928 | 4650703 |
| Mivne Real Estate KD Ltd. | &nbsp;&nbsp; 3794658 | 8751991 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 962547 | 34734724 |
| Monday.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 222789 | 51199140 |
| Nano Dimension Ltd., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 1430746 | 3476713 |
| Nayax Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 27193 | 596286 |
| Next Vision Stabilized Systems Ltd., NVS | &nbsp;&nbsp; 322927 | 3890944 |
| Nice Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 382748 | 69081841 |
| Nova Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 181235 | 36415870 |
| Oddity Tech Ltd., Class A, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 199165 | 8055228 |
| Oil Refineries Ltd. | &nbsp;&nbsp; 18761246 | 4511339 |
| One Software Technologies Ltd. | &nbsp;&nbsp; 218580 | 2735361 |
| OPC Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 665947 | 4749611 |
| OY Nofar Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 88789 | 1967008 |
| Pagaya Technologies Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 203773 | 3032142 |
| Partner Communications Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 835718 | 3448630 |
| Paz Oil Co. Ltd. | &nbsp;&nbsp; 71294 | 6736552 |
| Perion Network Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 268899 | 2195019 |
| Phoenix Holdings Ltd. (The) | &nbsp;&nbsp; 936157 | 9045741 |
| Prashkovsky Investments and <br> Construction Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp; 14455 | 306431 |
| Radware Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 310664 | 7039646 |
| Rami Levy Chain Stores Hashikma Marketing <br> 2006 Ltd.<br>| &nbsp;&nbsp; 79481 | 4401500 |
| Reit 1 Ltd. | &nbsp;&nbsp; 1012893 | 3787169 |
| Retailors Ltd. | &nbsp;&nbsp; 67762 | 1047982 |
| Riskified Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 496799 | 3119898 |
| Sapiens International Corp. NV | &nbsp;&nbsp; 191230 | 7396617 |
| Sella Capital Real Estate Ltd. | &nbsp;&nbsp; 1226510 | 2252462 |
| Shapir Engineering and Industry Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 800575 | 4451241 |
| Shikun & Binui Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1961165 | 4452100 |
| Shufersal Ltd. | &nbsp;&nbsp; 1591620 | 10778694 |
| Strauss Group Ltd. | &nbsp;&nbsp; 369646 | 5387874 |
| Summit Real Estate Holdings Ltd. | &nbsp;&nbsp; 107273 | 1270289 |
| Tadiran Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 21478 | 1073668 |
| Tel Aviv Stock Exchange Ltd. | &nbsp;&nbsp; 575131 | 4568972 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 6828651 | 119023387 |
| Tower Semiconductor Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 690344 | 27817438 |
| WalkMe Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 163814 | 2273738 |
| Wix.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 325537 | 50759357 |
| YH Dimri Construction & Development Ltd. | &nbsp;&nbsp; 10807 | 857056 |
| ZIM Integrated Shipping Services Ltd. | &nbsp;&nbsp; 600398 | 11821837 |
|  |  | 1214053237 |
| **Italy — 2.8%** | **Italy — 2.8%** | **Italy — 2.8%** |
| A2A SpA | &nbsp;&nbsp; 9288686 | 19674089 |
| ACEA SpA | &nbsp;&nbsp; 348559 | 6047320 |
| Amplifon SpA | &nbsp;&nbsp; 734518 | 23328584 |
| Anima Holding SpA<sup>(c)</sup> | &nbsp;&nbsp; 1898972 | 9985783 |
| Ariston Holding NV | &nbsp;&nbsp; 474260 | 1926146 |
| Ascopiave SpA | &nbsp;&nbsp; 334448 | 899461 |
| Azimut Holding SpA | &nbsp;&nbsp; 661858 | 16583404 |
| Banca Generali SpA | &nbsp;&nbsp; 417363 | 18162175 |
| Banca IFIS SpA | &nbsp;&nbsp; 186871 | 4386886 |
| Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp; 5657496 | 30872151 |
| Banca Popolare di Sondrio SpA | &nbsp;&nbsp; 2761433 | 21045253 |
| Banco BPM SpA | &nbsp;&nbsp; 7565581 | 52381586 |
| BFF Bank SpA<sup>(c)</sup> | &nbsp;&nbsp; 1035483 | 11704740 |
| BPER Banca SpA | &nbsp;&nbsp; 6016042 | 35200052 |
| Brembo NV | &nbsp;&nbsp; 1001204 | 11231794 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| Brunello Cucinelli SpA | &nbsp;&nbsp; 206685 | $19305874 |
| Buzzi SpA | &nbsp;&nbsp; 582263 | 22827062 |
| Carel Industries SpA<sup>(b)(c)</sup> | &nbsp;&nbsp; 205123 | 3788617 |
| CIR SpA-Compagnie Industriali<sup>(a)</sup> | &nbsp;&nbsp; 3787428 | 2412663 |
| Credito Emiliano SpA | &nbsp;&nbsp; 591480 | 6474732 |
| d'Amico International Shipping SA, NVS | &nbsp;&nbsp; 250502 | 1895063 |
| Danieli & C Officine Meccaniche SpA<sup>(b)</sup> | &nbsp;&nbsp; 117381 | 4573281 |
| Davide Campari-Milano NV | &nbsp;&nbsp; 3734200 | 33676778 |
| De' Longhi SpA | &nbsp;&nbsp; 444823 | 14020954 |
| DiaSorin SpA | &nbsp;&nbsp; 145741 | 15896105 |
| Digital Value SpA | &nbsp;&nbsp; 6614 | 393690 |
| El.En. SpA<sup>(b)</sup> | &nbsp;&nbsp; 208168 | 2187564 |
| Enav SpA<sup>(c)</sup> | &nbsp;&nbsp; 1546862 | 6616258 |
| Enel SpA | &nbsp;&nbsp; 49028610 | 350023782 |
| Eni SpA | &nbsp;&nbsp; 13150461 | 210404629 |
| ERG SpA | &nbsp;&nbsp; 380547 | 10090442 |
| Ferrari NV | &nbsp;&nbsp; 762716 | 313913002 |
| Fila SpA | &nbsp;&nbsp; 59973 | 578960 |
| Fincantieri SpA<sup>(a)(b)</sup> | &nbsp;&nbsp; 585586 | 3262384 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 3614731 | 61364460 |
| Generali | &nbsp;&nbsp; 5987216 | 154967184 |
| GVS SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 386788 | 2672949 |
| Hera SpA | &nbsp;&nbsp; 4669160 | 17084433 |
| Industrie De Nora SpA<sup>(b)</sup> | &nbsp;&nbsp; 190289 | 2204230 |
| Infrastrutture Wireless Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 1925862 | 21429489 |
| Interpump Group SpA | &nbsp;&nbsp; 436414 | 18926523 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 87587230 | 355677043 |
| Iren SpA | &nbsp;&nbsp; 4373780 | 8899965 |
| Italgas SpA | &nbsp;&nbsp; 2868116 | 15336287 |
| Iveco Group NV | &nbsp;&nbsp; 1129217 | 11596074 |
| Juventus Football Club SpA, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 697745 | 1797220 |
| Leonardo SpA | &nbsp;&nbsp; 2233520 | 53214441 |
| LU-VE SpA, NVS | &nbsp;&nbsp; 50935 | 1413941 |
| Maire Tecnimont SpA | &nbsp;&nbsp; 1211872 | 9615934 |
| MARR SpA | &nbsp;&nbsp; 261073 | 3252771 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 3233259 | 52486262 |
| MFE-MediaForEurope NV, NVS | &nbsp;&nbsp; 384101 | 1782493 |
| MFE-MediaForEurope NV, Class A | &nbsp;&nbsp; 1789832 | 6097515 |
| Moncler SpA | &nbsp;&nbsp; 1326772 | 79110190 |
| Nexi SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 3530438 | 21668689 |
| OVS SpA<sup>(c)</sup> | &nbsp;&nbsp; 1086330 | 3073100 |
| Pharmanutra SpA<sup>(b)</sup> | &nbsp;&nbsp; 21997 | 1127719 |
| Piaggio & C SpA | &nbsp;&nbsp; 1626792 | 4481163 |
| Pirelli & C SpA<sup>(c)</sup> | &nbsp;&nbsp; 2031333 | 12716718 |
| Poste Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 3047644 | 41257614 |
| Prysmian SpA | &nbsp;&nbsp; 1589132 | 109244080 |
| RAI Way SpA<sup>(c)</sup> | &nbsp;&nbsp; 248778 | 1340815 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 605284 | 32953577 |
| Reply SpA | &nbsp;&nbsp; 168843 | 23966546 |
| Safilo Group SpA<sup>(a)</sup> | &nbsp;&nbsp; 1310563 | 1480764 |
| Saipem SpA<sup>(a)</sup> | &nbsp;&nbsp; 7879527 | 18718871 |
| Salcef Group SpA | &nbsp;&nbsp; 131698 | 3641645 |
| Salvatore Ferragamo SpA<sup>(b)</sup> | &nbsp;&nbsp; 420187 | 3663958 |
| Sanlorenzo SpA/Ameglia | &nbsp;&nbsp; 30990 | 1261764 |
| Saras SpA | &nbsp;&nbsp; 3073852 | 5319435 |
| Seco SpA<sup>(a)(b)</sup> | &nbsp;&nbsp; 139212 | 389462 |
| Sesa SpA | &nbsp;&nbsp; 36080 | 3964681 |
| Snam SpA | &nbsp;&nbsp; 12187438 | 58239192 |
| SOL SpA | &nbsp;&nbsp; 207696 | 7766393 |
| Spaxs SpA<sup>(b)</sup> | &nbsp;&nbsp; 162660 | 833794 |
| Stellantis NV | &nbsp;&nbsp; 13378970 | 222947943 |
| Tamburi Investment Partners SpA | &nbsp;&nbsp; 385671 | 3888794 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| Technogym SpA<sup>(c)</sup> | &nbsp;&nbsp; 781138 | $7660961 |
| Technoprobe SpA<sup>(a)</sup> | &nbsp;&nbsp; 759888 | 6914014 |
| Telecom Italia SpA/Milano<sup>(a)(b)</sup> | &nbsp;&nbsp; 59309646 | 14537523 |
| Tenaris SA, NVS | &nbsp;&nbsp; 2817150 | 44699232 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 8431228 | 70208968 |
| Tinexta SpA | &nbsp;&nbsp; 71660 | 1174186 |
| UniCredit SpA | &nbsp;&nbsp; 9183968 | 377228732 |
| Unipol Gruppo SpA | &nbsp;&nbsp; 2482426 | 26746548 |
| Webuild SpA | &nbsp;&nbsp; 2484552 | 6504198 |
| Wiit SpA | &nbsp;&nbsp; 28291 | 688903 |
| Zignago Vetro SpA | &nbsp;&nbsp; 69674 | 855147 |
|  |  | 3305865797 |
| **Japan — 24.8%** | **Japan — 24.8%** | **Japan — 24.8%** |
| 77 Bank Ltd. (The) | &nbsp;&nbsp; 476000 | 14860324 |
| ABC-Mart Inc. | &nbsp;&nbsp; 622200 | 12264634 |
| Acom Co. Ltd. | &nbsp;&nbsp; 1323900 | 3812169 |
| Activia Properties Inc. | &nbsp;&nbsp; 3741 | 8850030 |
| Adastria Co. Ltd. | &nbsp;&nbsp; 162500 | 3617151 |
| ADEKA Corp. | &nbsp;&nbsp; 621800 | 13200714 |
| Advance Logistics Investment Corp. | &nbsp;&nbsp; 3584 | 2852303 |
| Advance Residence Investment Corp. | &nbsp;&nbsp; 8152 | 17102658 |
| Advantest Corp. | &nbsp;&nbsp; 4645000 | 205594035 |
| Aeon Co. Ltd. | &nbsp;&nbsp; 3952300 | 90177974 |
| Aeon Delight Co. Ltd. | &nbsp;&nbsp; 101000 | 2632204 |
| AEON Financial Service Co. Ltd. | &nbsp;&nbsp; 703300 | 6456432 |
| Aeon Hokkaido Corp. | &nbsp;&nbsp; 155300 | 949279 |
| Aeon Mall Co. Ltd. | &nbsp;&nbsp; 601300 | 8243956 |
| AEON REIT Investment Corp. | &nbsp;&nbsp; 11814 | 10208686 |
| AGC Inc. | &nbsp;&nbsp; 1210200 | 43312746 |
| Ai Holdings Corp. | &nbsp;&nbsp; 186100 | 3111016 |
| Aica Kogyo Co. Ltd. | &nbsp;&nbsp; 317000 | 7336475 |
| Aichi Financial Group Inc., NVS | &nbsp;&nbsp; 234600 | 4234569 |
| Aida Engineering Ltd. | &nbsp;&nbsp; 497400 | 2827061 |
| Aiful Corp. | &nbsp;&nbsp; 2235100 | 5792810 |
| Ain Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 157000 | 6036066 |
| Air Water Inc. | &nbsp;&nbsp; 1093700 | 16067618 |
| Aisin Corp. | &nbsp;&nbsp; 1067600 | 36016533 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 2840900 | 117003160 |
| Alfresa Holdings Corp. | &nbsp;&nbsp; 977200 | 15266188 |
| Alpen Co. Ltd. | &nbsp;&nbsp; 59400 | 873715 |
| Alps Alpine Co. Ltd. | &nbsp;&nbsp; 1100676 | 11665449 |
| Alps Logistics Co. Ltd. | &nbsp;&nbsp; 102900 | 3916556 |
| Amada Co. Ltd. | &nbsp;&nbsp; 1976400 | 23210692 |
| Amano Corp. | &nbsp;&nbsp; 472100 | 11968688 |
| Amvis Holdings Inc. | &nbsp;&nbsp; 224400 | 3906872 |
| ANA Holdings Inc. | &nbsp;&nbsp; 1003400 | 19192756 |
| Anritsu Corp. | &nbsp;&nbsp; 812500 | 6973409 |
| Anycolor Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 153200 | 2600041 |
| AOKI Holdings Inc. | &nbsp;&nbsp; 174700 | 1596771 |
| Aozora Bank Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 679200 | 11291375 |
| Appier Group Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 374000 | 3100554 |
| Arata Corp. | &nbsp;&nbsp; 48000 | 1143380 |
| Arclands Corp. | &nbsp;&nbsp; 178900 | 2173031 |
| Arcs Co. Ltd. | &nbsp;&nbsp; 183600 | 3335811 |
| ARE Holdings Inc. | &nbsp;&nbsp; 497300 | 6804011 |
| Argo Graphics Inc. | &nbsp;&nbsp; 17300 | 589550 |
| Ariake Japan Co. Ltd. | &nbsp;&nbsp; 94700 | 3379236 |
| Artience Co. Ltd. | &nbsp;&nbsp; 175200 | 3704799 |
| As One Corp. | &nbsp;&nbsp; 298400 | 6429228 |
| Asahi Group Holdings Ltd. | &nbsp;&nbsp; 2911500 | 107181574 |
| Asahi Intecc Co. Ltd. | &nbsp;&nbsp; 1313400 | 20820961 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 7538000 | 54358509 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Asics Corp. | &nbsp;&nbsp; 3928200 | $64109516 |
| ASKUL Corp. | &nbsp;&nbsp; 233300 | 3297170 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 10902800 | 126450130 |
| Atom Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 838000 | 4168435 |
| Autobacs Seven Co. Ltd. | &nbsp;&nbsp; 591600 | 6539635 |
| Avex Inc. | &nbsp;&nbsp; 184700 | 1848560 |
| Awa Bank Ltd. (The) | &nbsp;&nbsp; 170700 | 3166472 |
| Axial Retailing Inc. | &nbsp;&nbsp; 86800 | 594486 |
| Azbil Corp. | &nbsp;&nbsp; 716000 | 20806380 |
| AZ-COM MARUWA Holdings Inc. | &nbsp;&nbsp; 273800 | 2357860 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 3639800 | 77348471 |
| BayCurrent Consulting Inc. | &nbsp;&nbsp; 804600 | 24769299 |
| Belc Co. Ltd. | &nbsp;&nbsp; 40500 | 1697807 |
| Bell System24 Holdings Inc. | &nbsp;&nbsp; 105500 | 1090692 |
| Belluna Co. Ltd. | &nbsp;&nbsp; 160500 | 834708 |
| Bengo4.com Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 49700 | 1208598 |
| Bic Camera Inc. | &nbsp;&nbsp; 686900 | 7751782 |
| BIPROGY Inc. | &nbsp;&nbsp; 502100 | 16453085 |
| BML Inc. | &nbsp;&nbsp; 126900 | 2531610 |
| Bridgestone Corp. | &nbsp;&nbsp; 3457100 | 140958564 |
| Brother Industries Ltd. | &nbsp;&nbsp; 1407100 | 28868562 |
| Bunka Shutter Co. Ltd. | &nbsp;&nbsp; 69900 | 807053 |
| C Uyemura & Co. Ltd. | &nbsp;&nbsp; 56500 | 4054136 |
| Calbee Inc. | &nbsp;&nbsp; 522700 | 11998416 |
| Canon Electronics Inc. | &nbsp;&nbsp; 97100 | 1483032 |
| Canon Inc. | &nbsp;&nbsp; 6093200 | 190727488 |
| Canon Marketing Japan Inc. | &nbsp;&nbsp; 246900 | 7645610 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 2101500 | 44896269 |
| Casio Computer Co. Ltd. | &nbsp;&nbsp; 1211500 | 9750875 |
| Cawachi Ltd. | &nbsp;&nbsp; 90000 | 1669018 |
| Central Glass Co. Ltd. | &nbsp;&nbsp; 124900 | 3131788 |
| Central Japan Railway Co. | &nbsp;&nbsp; 4609000 | 108666125 |
| Change Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 257400 | 1920962 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 3320200 | 31101880 |
| Chiyoda Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 880400 | 1803527 |
| Chofu Seisakusho Co. Ltd. | &nbsp;&nbsp; 28000 | 400699 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 3880600 | 48928621 |
| Chudenko Corp. | &nbsp;&nbsp; 18400 | 429527 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 4068300 | 177550674 |
| Chugin Financial Group Inc., NVS | &nbsp;&nbsp; 940700 | 10479724 |
| Chugoku Electric Power Co. Inc. (The) | &nbsp;&nbsp; 1753900 | 12755601 |
| Chugoku Marine Paints Ltd. | &nbsp;&nbsp; 145000 | 2006000 |
| Citizen Watch Co. Ltd. | &nbsp;&nbsp; 1517600 | 10233118 |
| CKD Corp. | &nbsp;&nbsp; 416800 | 8324173 |
| Coca-Cola Bottlers Japan Holdings Inc. | &nbsp;&nbsp; 796950 | 11884692 |
| COLOPL Inc. | &nbsp;&nbsp; 501800 | 2039474 |
| Colowide Co. Ltd. | &nbsp;&nbsp; 473900 | 6523538 |
| Comforia Residential REIT Inc. | &nbsp;&nbsp; 5425 | 11254557 |
| COMSYS Holdings Corp. | &nbsp;&nbsp; 686500 | 14779097 |
| Comture Corp. | &nbsp;&nbsp; 102700 | 1291058 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 6272000 | 39529343 |
| Cosmo Energy Holdings Co. Ltd. | &nbsp;&nbsp; 436500 | 23425467 |
| Cosmos Pharmaceutical Corp. | &nbsp;&nbsp; 119000 | 10699142 |
| Cover Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 203300 | 2660125 |
| CRE Logistics REIT Inc. | &nbsp;&nbsp; 4095 | 3947741 |
| Create Restaurants Holdings Inc. | &nbsp;&nbsp; 705400 | 5035580 |
| Create SD Holdings Co. Ltd. | &nbsp;&nbsp; 153300 | 3439546 |
| Credit Saison Co. Ltd. | &nbsp;&nbsp; 884300 | 20497366 |
| Curves Holdings Co. Ltd. | &nbsp;&nbsp; 127000 | 697547 |
| CyberAgent Inc. | &nbsp;&nbsp; 2583500 | 16703428 |
| Cybozu Inc. | &nbsp;&nbsp; 172700 | 2088807 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 1288300 | 42382766 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Daicel Corp. | &nbsp;&nbsp; 1428000 | $13881292 |
| Daido Steel Co. Ltd. | &nbsp;&nbsp; 735100 | 7355049 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 1847800 | 33442011 |
| Daihen Corp. | &nbsp;&nbsp; 112400 | 5515868 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 5575100 | 169986453 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 11196800 | 456019498 |
| Daiichikosho Co. Ltd. | &nbsp;&nbsp; 452000 | 5455589 |
| Daiki Aluminium Industry Co. Ltd. | &nbsp;&nbsp; 109500 | 908121 |
| Daikin Industries Ltd. | &nbsp;&nbsp; 1598600 | 231807475 |
| Daikokutenbussan Co. Ltd. | &nbsp;&nbsp; 24800 | 1763574 |
| Daio Paper Corp. | &nbsp;&nbsp; 525100 | 3134015 |
| Daiseki Co. Ltd. | &nbsp;&nbsp; 241220 | 5774390 |
| Daishi Hokuetsu Financial Group Inc. | &nbsp;&nbsp; 178200 | 7100489 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 352500 | 42391682 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 3514400 | 99522123 |
| Daiwa House REIT Investment Corp. | &nbsp;&nbsp; 14438 | 23235289 |
| Daiwa Office Investment Corp.<sup>(b)</sup> | &nbsp;&nbsp; 3575 | 7003308 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 8006600 | 66103237 |
| Daiwa Securities Living Investments Corp. | &nbsp;&nbsp; 13532 | 9204705 |
| Daiwabo Holdings Co. Ltd. | &nbsp;&nbsp; 540000 | 10175587 |
| DCM Holdings Co. Ltd. | &nbsp;&nbsp; 705700 | 6811813 |
| DeNA Co. Ltd. | &nbsp;&nbsp; 572300 | 5916205 |
| Denka Co. Ltd. | &nbsp;&nbsp; 500200 | 7289414 |
| Denso Corp. | &nbsp;&nbsp; 11432000 | 187473441 |
| Dentsu Group Inc. | &nbsp;&nbsp; 1191700 | 31512371 |
| Dentsu Soken Inc. | &nbsp;&nbsp; 139200 | 5291735 |
| Descente Ltd. | &nbsp;&nbsp; 195400 | 5159820 |
| Dexerials Corp. | &nbsp;&nbsp; 329100 | 15799657 |
| DIC Corp. | &nbsp;&nbsp; 532000 | 10943962 |
| Digital Arts Inc. | &nbsp;&nbsp; 62000 | 1968332 |
| Digital Garage Inc. | &nbsp;&nbsp; 190800 | 3548731 |
| Dip Corp. | &nbsp;&nbsp; 208300 | 4282490 |
| Disco Corp. | &nbsp;&nbsp; 560000 | 187262068 |
| DMG Mori Co. Ltd. | &nbsp;&nbsp; 752500 | 19146998 |
| Doshisha Co. Ltd. | &nbsp;&nbsp; 83500 | 1274994 |
| Doutor Nichires Holdings Co. Ltd. | &nbsp;&nbsp; 185500 | 2878852 |
| Dowa Holdings Co. Ltd. | &nbsp;&nbsp; 295600 | 10848570 |
| DTS Corp. | &nbsp;&nbsp; 207400 | 5995693 |
| Duskin Co. Ltd. | &nbsp;&nbsp; 242600 | 6378448 |
| DyDo Group Holdings Inc. | &nbsp;&nbsp; 59700 | 1080232 |
| Earth Corp. | &nbsp;&nbsp; 87100 | 2919345 |
| East Japan Railway Co. | &nbsp;&nbsp; 5419600 | 103261831 |
| Ebara Corp. | &nbsp;&nbsp; 2925500 | 41894660 |
| EDION Corp. | &nbsp;&nbsp; 574400 | 6692473 |
| eGuarantee Inc. | &nbsp;&nbsp; 164900 | 1614334 |
| Eiken Chemical Co. Ltd. | &nbsp;&nbsp; 150300 | 2434063 |
| Eisai Co. Ltd. | &nbsp;&nbsp; 1524200 | 58126778 |
| Eizo Corp. | &nbsp;&nbsp; 95900 | 3103405 |
| Elecom Co. Ltd. | &nbsp;&nbsp; 228600 | 2506589 |
| Electric Power Development Co. Ltd. | &nbsp;&nbsp; 850400 | 14057810 |
| en Japan Inc. | &nbsp;&nbsp; 175600 | 3287381 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 17432250 | 91336982 |
| Enplas Corp.<sup>(b)</sup> | &nbsp;&nbsp; 32000 | 1621909 |
| ES-Con Japan Ltd. | &nbsp;&nbsp; 88800 | 613085 |
| Euglena Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 681900 | 2509958 |
| Exedy Corp. | &nbsp;&nbsp; 248700 | 5280557 |
| EXEO Group Inc. | &nbsp;&nbsp; 1148800 | 12530531 |
| Ezaki Glico Co. Ltd. | &nbsp;&nbsp; 298300 | 9161936 |
| Fancl Corp. | &nbsp;&nbsp; 519000 | 10051732 |
| FANUC Corp. | &nbsp;&nbsp; 5752000 | 170528111 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 1059900 | 292160098 |
| FCC Co. Ltd. | &nbsp;&nbsp; 183200 | 2858001 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Ferrotec Holdings Corp. | &nbsp;&nbsp; 283800 | $4705946 |
| Financial Products Group Co. Ltd. | &nbsp;&nbsp; 336500 | 5844262 |
| Food & Life Companies Ltd. | &nbsp;&nbsp; 677500 | 11872560 |
| FP Corp. | &nbsp;&nbsp; 252800 | 4360483 |
| FP Partner Inc.<sup>(b)</sup> | &nbsp;&nbsp; 45700 | 944422 |
| Freee KK<sup>(a)</sup> | &nbsp;&nbsp; 252900 | 4143544 |
| Frontier Real Estate Investment Corp. | &nbsp;&nbsp; 2928 | 8488005 |
| Fuji Co. Ltd./Ehime | &nbsp;&nbsp; 201900 | 2655750 |
| Fuji Corp./Aichi | &nbsp;&nbsp; 525800 | 8792880 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 774100 | 43540724 |
| Fuji Kyuko Co. Ltd. | &nbsp;&nbsp; 115400 | 2355018 |
| Fuji Media Holdings Inc. | &nbsp;&nbsp; 219800 | 2755100 |
| Fuji Oil Holdings Inc. | &nbsp;&nbsp; 238200 | 4973496 |
| Fuji Seal International Inc. | &nbsp;&nbsp; 229000 | 3660944 |
| Fuji Soft Inc. | &nbsp;&nbsp; 291500 | 13965846 |
| Fujicco Co. Ltd. | &nbsp;&nbsp; 9800 | 121278 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 6794200 | 161538403 |
| Fujikura Ltd. | &nbsp;&nbsp; 1534700 | 30745592 |
| Fujimi Inc. | &nbsp;&nbsp; 329700 | 6924430 |
| Fujimori Kogyo Co. Ltd. | &nbsp;&nbsp; 13900 | 418045 |
| Fujitec Co. Ltd. | &nbsp;&nbsp; 472900 | 13678742 |
| Fujitsu General Ltd. | &nbsp;&nbsp; 469400 | 6158541 |
| Fujitsu Ltd. | &nbsp;&nbsp; 10601900 | 192532179 |
| Fujiya Co. Ltd. | &nbsp;&nbsp; 73900 | 1338298 |
| Fukuoka Financial Group Inc. | &nbsp;&nbsp; 1012980 | 28412930 |
| Fukuoka REIT Corp. | &nbsp;&nbsp; 5784 | 6055471 |
| Fukushima Galilei Co. Ltd. | &nbsp;&nbsp; 7800 | 350712 |
| Fukuyama Transporting Co. Ltd. | &nbsp;&nbsp; 97800 | 2638070 |
| Funai Soken Holdings Inc. | &nbsp;&nbsp; 169100 | 2467500 |
| Furukawa Co. Ltd. | &nbsp;&nbsp; 180500 | 2204684 |
| Furukawa Electric Co. Ltd. | &nbsp;&nbsp; 444000 | 12146397 |
| Fuso Chemical Co. Ltd. | &nbsp;&nbsp; 87200 | 2256975 |
| Future Corp. | &nbsp;&nbsp; 234800 | 2688282 |
| Fuyo General Lease Co. Ltd. | &nbsp;&nbsp; 82800 | 6767510 |
| G-7 Holdings Inc. | &nbsp;&nbsp; 67800 | 763872 |
| Genky DrugStores Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 54400 | 1255524 |
| Geo Holdings Corp. | &nbsp;&nbsp; 125400 | 1376950 |
| Global One Real Estate Investment Corp. | &nbsp;&nbsp; 7833 | 5293543 |
| Glory Ltd. | &nbsp;&nbsp; 228300 | 4150307 |
| GLP J-REIT | &nbsp;&nbsp; 29594 | 25926810 |
| GMO Financial Gate Inc. | &nbsp;&nbsp; 21300 | 942590 |
| GMO Financial Holdings Inc. | &nbsp;&nbsp; 110300 | 471731 |
| GMO internet group Inc. | &nbsp;&nbsp; 506200 | 8386949 |
| GMO Payment Gateway Inc. | &nbsp;&nbsp; 255500 | 14646355 |
| GNI Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 311000 | 4760313 |
| Goldcrest Co. Ltd. | &nbsp;&nbsp; 69500 | 1328353 |
| Goldwin Inc. | &nbsp;&nbsp; 129300 | 7963315 |
| Gree Inc. | &nbsp;&nbsp; 535100 | 1891915 |
| GS Yuasa Corp. | &nbsp;&nbsp; 494900 | 8805889 |
| GungHo Online Entertainment Inc. | &nbsp;&nbsp; 250530 | 4898117 |
| Gunma Bank Ltd. (The) | &nbsp;&nbsp; 2460500 | 16692212 |
| Gunze Ltd. | &nbsp;&nbsp; 80700 | 2996528 |
| H.U. Group Holdings Inc. | &nbsp;&nbsp; 292900 | 5154601 |
| H2O Retailing Corp. | &nbsp;&nbsp; 616200 | 10718567 |
| Hachijuni Bank Ltd. (The) | &nbsp;&nbsp; 2436600 | 17367092 |
| Hakuhodo DY Holdings Inc. | &nbsp;&nbsp; 1340700 | 10948603 |
| Hakuto Co. Ltd. | &nbsp;&nbsp; 62900 | 2106522 |
| Hamamatsu Photonics KK | &nbsp;&nbsp; 853000 | 24565497 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 1355700 | 38683445 |
| Hankyu Hanshin REIT Inc. | &nbsp;&nbsp; 5037 | 4473606 |
| Hanwa Co. Ltd. | &nbsp;&nbsp; 170300 | 6582522 |
| Harmonic Drive Systems Inc. | &nbsp;&nbsp; 306300 | 8417714 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Haseko Corp. | &nbsp;&nbsp; 1513300 | $18885168 |
| Hazama Ando Corp. | &nbsp;&nbsp; 1167700 | 9436298 |
| Heiwa Corp. | &nbsp;&nbsp; 461900 | 6626632 |
| Heiwa Real Estate Co. Ltd. | &nbsp;&nbsp; 172200 | 4949602 |
| Heiwa Real Estate REIT Inc. | &nbsp;&nbsp; 7332 | 6421487 |
| Heiwado Co. Ltd. | &nbsp;&nbsp; 176500 | 2889901 |
| Hiday Hidaka Corp. | &nbsp;&nbsp; 105200 | 1947329 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 116000 | 21721498 |
| Hino Motors Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1639100 | 5295315 |
| Hioki EE Corp | &nbsp;&nbsp; 44400 | 2380755 |
| Hirata Corp. | &nbsp;&nbsp; 47800 | 1978562 |
| Hirogin Holdings Inc. | &nbsp;&nbsp; 1740800 | 14130362 |
| Hirose Electric Co. Ltd. | &nbsp;&nbsp; 174145 | 21803611 |
| HIS Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 289000 | 3333665 |
| Hisamitsu Pharmaceutical Co. Inc. | &nbsp;&nbsp; 286300 | 7885792 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 646100 | 16092487 |
| Hitachi Ltd. | &nbsp;&nbsp; 28051100 | 606090657 |
| Hitachi Zosen Corp. | &nbsp;&nbsp; 1080900 | 7847255 |
| Hogy Medical Co. Ltd. | &nbsp;&nbsp; 144900 | 3986089 |
| Hokkaido Electric Power Co. Inc. | &nbsp;&nbsp; 1063600 | 7232344 |
| Hokkoku Financial Holdings Inc. | &nbsp;&nbsp; 112200 | 4224644 |
| Hokuetsu Corp.<sup>(b)</sup> | &nbsp;&nbsp; 888100 | 6874931 |
| Hokuhoku Financial Group Inc. | &nbsp;&nbsp; 812300 | 11359654 |
| Hokuriku Electric Power Co. | &nbsp;&nbsp; 958300 | 6142198 |
| Hokuto Corp. | &nbsp;&nbsp; 125000 | 1596148 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 27604600 | 294943346 |
| Horiba Ltd. | &nbsp;&nbsp; 214800 | 17000393 |
| Hoshino Resorts REIT Inc. | &nbsp;&nbsp; 1665 | 5760081 |
| Hoshizaki Corp. | &nbsp;&nbsp; 656500 | 20675683 |
| Hosiden Corp. | &nbsp;&nbsp; 420000 | 5729908 |
| House Foods Group Inc. | &nbsp;&nbsp; 456500 | 9005577 |
| Hoya Corp. | &nbsp;&nbsp; 2124300 | 266176348 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 2332400 | 22766795 |
| Hulic REIT Inc. | &nbsp;&nbsp; 8267 | 7868957 |
| Hyakugo Bank Ltd. (The) | &nbsp;&nbsp; 1436600 | 6432191 |
| Ibiden Co. Ltd. | &nbsp;&nbsp; 689400 | 26722643 |
| Ichibanya Co. Ltd. | &nbsp;&nbsp; 472100 | 3359250 |
| Ichigo Inc. | &nbsp;&nbsp; 1840400 | 5188520 |
| Ichigo Office REIT Investment Corp. | &nbsp;&nbsp; 9116 | 5090628 |
| Idec Corp./Japan | &nbsp;&nbsp; 148600 | 3061574 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 5850740 | 38534817 |
| IDOM Inc. | &nbsp;&nbsp; 349200 | 2651660 |
| IHI Corp. | &nbsp;&nbsp; 871600 | 31796510 |
| Iida Group Holdings Co. Ltd. | &nbsp;&nbsp; 879000 | 13212822 |
| Iino Kaiun Kaisha Ltd. | &nbsp;&nbsp; 745400 | 6299172 |
| Inaba Denki Sangyo Co. Ltd. | &nbsp;&nbsp; 226200 | 5930655 |
| Inabata & Co. Ltd. | &nbsp;&nbsp; 225100 | 5041163 |
| Industrial & Infrastructure Fund Investment Corp. | &nbsp;&nbsp; 16083 | 13272761 |
| Infomart Corp. | &nbsp;&nbsp; 1278000 | 2736793 |
| Infroneer Holdings Inc. | &nbsp;&nbsp; 1561356 | 13539400 |
| Inpex Corp. | &nbsp;&nbsp; 5974700 | 92258240 |
| Insource Co. Ltd. | &nbsp;&nbsp; 260800 | 1529330 |
| Internet Initiative Japan Inc. | &nbsp;&nbsp; 621600 | 10512217 |
| Invincible Investment Corp. | &nbsp;&nbsp; 46193 | 20923114 |
| Iriso Electronics Co. Ltd. | &nbsp;&nbsp; 107200 | 2154629 |
| Ise Chemicals Corp.<sup>(b)</sup> | &nbsp;&nbsp; 12000 | 1645632 |
| Isetan Mitsukoshi Holdings Ltd. | &nbsp;&nbsp; 2053600 | 40856991 |
| Isuzu Motors Ltd. | &nbsp;&nbsp; 3533800 | 47802160 |
| Ito En Ltd. | &nbsp;&nbsp; 335100 | 7944482 |
| ITOCHU Corp. | &nbsp;&nbsp; 7182900 | 368363723 |
| Itochu Enex Co. Ltd. | &nbsp;&nbsp; 245500 | 2802362 |
| Itoham Yonekyu Holdings Inc. | &nbsp;&nbsp; 175480 | 5179756 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Iwatani Corp. | &nbsp;&nbsp; 264500 | $16785462 |
| Iyogin Holdings Inc., NVS | &nbsp;&nbsp; 1753100 | 17613737 |
| Izumi Co. Ltd. | &nbsp;&nbsp; 152900 | 3643060 |
| J Front Retailing Co. Ltd. | &nbsp;&nbsp; 1481300 | 17943403 |
| J Trust Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 439400 | 1206595 |
| JAC Recruitment Co. Ltd. | &nbsp;&nbsp; 234000 | 1128474 |
| Jaccs Co. Ltd. | &nbsp;&nbsp; 127000 | 4123206 |
| JAFCO Group Co. Ltd. | &nbsp;&nbsp; 315000 | 3987123 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 899500 | 14574486 |
| Japan Airport Terminal Co. Ltd. | &nbsp;&nbsp; 365400 | 13338660 |
| Japan Aviation Electronics Industry Ltd. | &nbsp;&nbsp; 252000 | 4223114 |
| Japan Elevator Service Holdings Co. Ltd. | &nbsp;&nbsp; 395900 | 7305675 |
| Japan Excellent Inc. | &nbsp;&nbsp; 7997 | 6361501 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 3002800 | 70500970 |
| Japan Hotel REIT Investment Corp. | &nbsp;&nbsp; 28217 | 14413818 |
| Japan Lifeline Co. Ltd. | &nbsp;&nbsp; 468300 | 3626792 |
| Japan Logistics Fund Inc. | &nbsp;&nbsp; 6241 | 10677036 |
| Japan Material Co. Ltd. | &nbsp;&nbsp; 345800 | 4587871 |
| Japan Metropolitan Fund Invest | &nbsp;&nbsp; 43854 | 27382350 |
| Japan Petroleum Exploration Co. Ltd. | &nbsp;&nbsp; 209700 | 8646492 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 8642600 | 89936336 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 12585600 | 133287269 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 1144600 | 23564493 |
| Japan Prime Realty Investment Corp. | &nbsp;&nbsp; 5424 | 11801239 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 8094 | 28074091 |
| Japan Securities Finance Co. Ltd. | &nbsp;&nbsp; 864700 | 9853704 |
| Japan Steel Works Ltd. (The) | &nbsp;&nbsp; 433600 | 12329539 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 7270900 | 213947533 |
| Japan Wool Textile Co. Ltd. (The) | &nbsp;&nbsp; 72800 | 646346 |
| JCR Pharmaceuticals Co. Ltd. | &nbsp;&nbsp; 440900 | 1720321 |
| JCU Corp. | &nbsp;&nbsp; 92300 | 2301849 |
| Jeol Ltd. | &nbsp;&nbsp; 265900 | 10705752 |
| JFE Holdings Inc. | &nbsp;&nbsp; 3437500 | 50353734 |
| JGC Holdings Corp. | &nbsp;&nbsp; 1337300 | 11357287 |
| JINS Holdings Inc. | &nbsp;&nbsp; 70700 | 2170193 |
| JMDC Inc.<sup>(b)</sup> | &nbsp;&nbsp; 178300 | 3957272 |
| J-Oil Mills Inc. | &nbsp;&nbsp; 71200 | 993184 |
| Joshin Denki Co. Ltd. | &nbsp;&nbsp; 24300 | 457027 |
| Joyful Honda Co. Ltd. | &nbsp;&nbsp; 246100 | 3582462 |
| JTEKT Corp. | &nbsp;&nbsp; 1227600 | 8824217 |
| JTOWER Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 73600 | 802249 |
| Juroku Financial Group Inc. | &nbsp;&nbsp; 146000 | 4685107 |
| Justsystems Corp. | &nbsp;&nbsp; 193100 | 4085282 |
| JVCKenwood Corp. | &nbsp;&nbsp; 910400 | 5577849 |
| Kadokawa Corp. | &nbsp;&nbsp; 602000 | 11132643 |
| Kaga Electronics Co. Ltd. | &nbsp;&nbsp; 79200 | 2873492 |
| Kagome Co. Ltd. | &nbsp;&nbsp; 562000 | 13126966 |
| Kajima Corp. | &nbsp;&nbsp; 2565400 | 49572551 |
| Kakaku.com Inc. | &nbsp;&nbsp; 809000 | 11309405 |
| Kaken Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 172200 | 4686631 |
| Kameda Seika Co. Ltd. | &nbsp;&nbsp; 25800 | 752758 |
| Kamigumi Co. Ltd. | &nbsp;&nbsp; 637400 | 14536429 |
| Kanamoto Co. Ltd. | &nbsp;&nbsp; 147400 | 2754324 |
| Kandenko Co. Ltd. | &nbsp;&nbsp; 703400 | 9500314 |
| Kaneka Corp. | &nbsp;&nbsp; 236500 | 6686776 |
| Kanematsu Corp. | &nbsp;&nbsp; 593400 | 10050485 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 4271300 | 73106685 |
| Kansai Paint Co. Ltd. | &nbsp;&nbsp; 1094200 | 17970477 |
| Kao Corp. | &nbsp;&nbsp; 2826000 | 123749611 |
| Kappa Create Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 145800 | 1835260 |
| Kasumigaseki Capital Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 42100 | 3636885 |
| Katakura Industries Co. Ltd. | &nbsp;&nbsp; 39600 | 552235 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Katitas Co. Ltd. | &nbsp;&nbsp; 263700 | $3305611 |
| Kato Sangyo Co. Ltd. | &nbsp;&nbsp; 109100 | 3106191 |
| Kawasaki Heavy Industries Ltd. | &nbsp;&nbsp; 919600 | 33741611 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 2382000 | 36599784 |
| KDDI Corp. | &nbsp;&nbsp; 9009200 | 271086878 |
| KDX Realty Investment Corp. | &nbsp;&nbsp; 27367 | 28214699 |
| KeePer Technical Laboratory Co. Ltd. | &nbsp;&nbsp; 85400 | 2067216 |
| Keihan Holdings Co. Ltd. | &nbsp;&nbsp; 597200 | 12173304 |
| Keihanshin Building Co. Ltd. | &nbsp;&nbsp; 92600 | 1009750 |
| Keikyu Corp. | &nbsp;&nbsp; 1340700 | 10600525 |
| Keio Corp. | &nbsp;&nbsp; 614700 | 15391421 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 822900 | 24612168 |
| Keiyo Bank Ltd. (The) | &nbsp;&nbsp; 629700 | 3543677 |
| Kewpie Corp. | &nbsp;&nbsp; 605400 | 15550744 |
| Keyence Corp. | &nbsp;&nbsp; 1177500 | 514873796 |
| KH Neochem Co. Ltd. | &nbsp;&nbsp; 185800 | 2771301 |
| Kikkoman Corp. | &nbsp;&nbsp; 4182100 | 52334563 |
| Kinden Corp. | &nbsp;&nbsp; 815600 | 17207584 |
| Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp; 1080800 | 25031526 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 4727000 | 66828301 |
| Kisoji Co. Ltd. | &nbsp;&nbsp; 150200 | 2649837 |
| Kissei Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 160600 | 3734299 |
| Ki-Star Real Estate Co. Ltd. | &nbsp;&nbsp; 46800 | 1081737 |
| Kitz Corp. | &nbsp;&nbsp; 565500 | 4167507 |
| Kiyo Bank Ltd. (The) | &nbsp;&nbsp; 469300 | 6138231 |
| Koa Corp.<sup>(b)</sup> | &nbsp;&nbsp; 168300 | 1488339 |
| Kobayashi Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 293400 | 11802199 |
| Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 921800 | 24749269 |
| Kobe Steel Ltd. | &nbsp;&nbsp; 2260400 | 28215070 |
| Koei Tecmo Holdings Co. Ltd. | &nbsp;&nbsp; 839932 | 8208603 |
| Kohnan Shoji Co. Ltd. | &nbsp;&nbsp; 154100 | 4155226 |
| Koito Manufacturing Co. Ltd. | &nbsp;&nbsp; 1267000 | 18734247 |
| Kokuyo Co. Ltd. | &nbsp;&nbsp; 624700 | 10482416 |
| Komatsu Ltd. | &nbsp;&nbsp; 5592900 | 158992581 |
| KOMEDA Holdings Co. Ltd. | &nbsp;&nbsp; 309600 | 5550385 |
| Komeri Co. Ltd. | &nbsp;&nbsp; 147700 | 3616158 |
| Konami Group Corp. | &nbsp;&nbsp; 604300 | 45467280 |
| Konica Minolta Inc. | &nbsp;&nbsp; 2835900 | 8314441 |
| Konishi Co. Ltd. | &nbsp;&nbsp; 193000 | 1537607 |
| Kose Corp. | &nbsp;&nbsp; 202700 | 13545674 |
| Koshidaka Holdings Co. Ltd. | &nbsp;&nbsp; 273000 | 1837631 |
| Kotobuki Spirits Co. Ltd. | &nbsp;&nbsp; 623800 | 8010893 |
| K's Holdings Corp. | &nbsp;&nbsp; 932400 | 10063631 |
| Kubota Corp. | &nbsp;&nbsp; 6046000 | 86922805 |
| Kumagai Gumi Co. Ltd. | &nbsp;&nbsp; 163400 | 3916281 |
| Kumiai Chemical Industry Co. Ltd. | &nbsp;&nbsp; 592827 | 3118635 |
| Kura Sushi Inc. | &nbsp;&nbsp; 122800 | 3180230 |
| Kuraray Co. Ltd. | &nbsp;&nbsp; 1836000 | 22452503 |
| Kureha Corp. | &nbsp;&nbsp; 268200 | 5327347 |
| Kurita Water Industries Ltd. | &nbsp;&nbsp; 629900 | 26883371 |
| Kusuri no Aoki Holdings Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 280900 | 5852130 |
| KYB Corp. | &nbsp;&nbsp; 99200 | 3446169 |
| Kyocera Corp. | &nbsp;&nbsp; 7746500 | 97566865 |
| Kyoei Steel Ltd. | &nbsp;&nbsp; 98600 | 1312305 |
| Kyokuto Kaihatsu Kogyo Co. Ltd. | &nbsp;&nbsp; 131000 | 2337003 |
| Kyorin Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 465400 | 5319009 |
| Kyoritsu Maintenance Co. Ltd. | &nbsp;&nbsp; 363600 | 7058930 |
| Kyoto Financial Group Inc. | &nbsp;&nbsp; 1307300 | 24416966 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 1632700 | 34437884 |
| Kyudenko Corp. | &nbsp;&nbsp; 248800 | 11459980 |
| Kyushu Electric Power Co. Inc. | &nbsp;&nbsp; 2433500 | 25686971 |
| Kyushu Financial Group Inc. | &nbsp;&nbsp; 2199600 | 13548644 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Kyushu Railway Co. | &nbsp;&nbsp; 807200 | $21545926 |
| LaSalle Logiport REIT | &nbsp;&nbsp; 11472 | 11318652 |
| Lasertec Corp. | &nbsp;&nbsp; 487000 | 86409946 |
| Leopalace21 Corp. | &nbsp;&nbsp; 1044100 | 3835575 |
| Life Corp. | &nbsp;&nbsp; 116500 | 2836873 |
| Lifenet Insurance Co.<sup>(a)(b)</sup> | &nbsp;&nbsp; 297700 | 3379541 |
| Lintec Corp. | &nbsp;&nbsp; 210000 | 4721651 |
| Lion Corp. | &nbsp;&nbsp; 1544200 | 13363115 |
| LITALICO Inc. | &nbsp;&nbsp; 108900 | 894129 |
| Lixil Corp. | &nbsp;&nbsp; 1741500 | 20159893 |
| LY Corp. | &nbsp;&nbsp; 15919600 | 39829483 |
| M&A Capital Partners Co. Ltd. | &nbsp;&nbsp; 79200 | 1121765 |
| M&A Research Institute Holdings Inc., NVS<sup>(a)</sup> | &nbsp;&nbsp; 173800 | 3500876 |
| M3 Inc. | &nbsp;&nbsp; 2653800 | 24779210 |
| Mabuchi Motor Co. Ltd. | &nbsp;&nbsp; 594000 | 9131180 |
| Macnica Holdings Inc. | &nbsp;&nbsp; 280200 | 11308335 |
| Maeda Kosen Co. Ltd. | &nbsp;&nbsp; 75200 | 823307 |
| Makino Milling Machine Co. Ltd. | &nbsp;&nbsp; 123300 | 5531993 |
| Makita Corp. | &nbsp;&nbsp; 1355400 | 44677268 |
| Mandom Corp. | &nbsp;&nbsp; 211900 | 1795609 |
| Mani Inc. | &nbsp;&nbsp; 511400 | 7193066 |
| Marubeni Corp. | &nbsp;&nbsp; 8614800 | 162128489 |
| Maruha Nichiro Corp. | &nbsp;&nbsp; 224300 | 5015859 |
| Marui Group Co. Ltd. | &nbsp;&nbsp; 1005700 | 16294177 |
| Maruichi Steel Tube Ltd. | &nbsp;&nbsp; 311800 | 7598305 |
| Maruwa Co. Ltd./Aichi | &nbsp;&nbsp; 51800 | 13877998 |
| Matsuda Sangyo Co. Ltd. | &nbsp;&nbsp; 45300 | 895541 |
| Matsui Securities Co. Ltd. | &nbsp;&nbsp; 835700 | 4684419 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 2085850 | 34015819 |
| Max Co. Ltd. | &nbsp;&nbsp; 67800 | 1696333 |
| Maxell Ltd. | &nbsp;&nbsp; 463600 | 5319715 |
| Maxvalu Tokai Co. Ltd. | &nbsp;&nbsp; 2500 | 52847 |
| Mazda Motor Corp. | &nbsp;&nbsp; 3445200 | 29716282 |
| McDonald's Holdings Co. Japan Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 581800 | 24103475 |
| MCJ Co. Ltd. | &nbsp;&nbsp; 265800 | 2418197 |
| Mebuki Financial Group Inc. | &nbsp;&nbsp; 6047410 | 25172050 |
| Medipal Holdings Corp. | &nbsp;&nbsp; 1072200 | 19353491 |
| Medley Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 140500 | 3836653 |
| Megachips Corp. | &nbsp;&nbsp; 81300 | 2278550 |
| Megmilk Snow Brand Co. Ltd. | &nbsp;&nbsp; 240600 | 4576316 |
| Meidensha Corp. | &nbsp;&nbsp; 182500 | 4167376 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 1415800 | 35755132 |
| Meiko Electronics Co. Ltd. | &nbsp;&nbsp; 117600 | 4714235 |
| MEITEC Group Holdings Inc. | &nbsp;&nbsp; 460700 | 10402639 |
| Menicon Co. Ltd. | &nbsp;&nbsp; 346400 | 3239497 |
| Mercari Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 716300 | 10738904 |
| METAWATER Co. Ltd. | &nbsp;&nbsp; 68900 | 855658 |
| Micronics Japan Co. Ltd. | &nbsp;&nbsp; 182000 | 7231984 |
| Milbon Co. Ltd. | &nbsp;&nbsp; 144400 | 3211717 |
| Mimasu Semiconductor Industry Co. Ltd. | &nbsp;&nbsp; 124900 | 3076316 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 2215459 | 53291347 |
| Mirai Corp. | &nbsp;&nbsp; 10389 | 3097701 |
| Mirait One Corp. | &nbsp;&nbsp; 614600 | 8734351 |
| MISUMI Group Inc. | &nbsp;&nbsp; 1724100 | 31727979 |
| Mitani Sekisan Co. Ltd. | &nbsp;&nbsp; 15000 | 561720 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 8068900 | 47656897 |
| Mitsubishi Corp. | &nbsp;&nbsp; 20392100 | 421138742 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 11696800 | 194889343 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 6809500 | 116060623 |
| Mitsubishi Estate Logistics REIT <br> Investment Corp.<br>| &nbsp;&nbsp; 3281 | 8270958 |
| Mitsubishi Gas Chemical Co. Inc. | &nbsp;&nbsp; 926600 | 17517392 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 5360770 | $38567617 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 19421400 | 232786367 |
| Mitsubishi Logisnext Co. Ltd. | &nbsp;&nbsp; 100500 | 882475 |
| Mitsubishi Logistics Corp. | &nbsp;&nbsp; 455600 | 15936347 |
| Mitsubishi Materials Corp. | &nbsp;&nbsp; 729600 | 13670072 |
| Mitsubishi Motors Corp. | &nbsp;&nbsp; 4092100 | 11665296 |
| Mitsubishi Pencil Co. Ltd. | &nbsp;&nbsp; 169700 | 2633199 |
| Mitsubishi Research Institute Inc. | &nbsp;&nbsp; 24200 | 762952 |
| Mitsubishi Shokuhin Co. Ltd. | &nbsp;&nbsp; 68600 | 2420560 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 67166000 | 775790839 |
| Mitsuboshi Belting Ltd. | &nbsp;&nbsp; 156500 | 4591089 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 15561000 | 361075663 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 1040500 | 30082949 |
| Mitsui DM Sugar Holdings Co. Ltd. | &nbsp;&nbsp; 108800 | 2390588 |
| Mitsui E&S Co. Ltd. | &nbsp;&nbsp; 569600 | 4958799 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 16139700 | 167205028 |
| Mitsui Fudosan Logistics Park Inc. | &nbsp;&nbsp; 3665 | 10326856 |
| Mitsui High-Tec Inc. | &nbsp;&nbsp; 612000 | 4774195 |
| Mitsui Mining & Smelting Co. Ltd. | &nbsp;&nbsp; 326800 | 10895023 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 2075400 | 65921244 |
| Mitsui-Soko Holdings Co. Ltd. | &nbsp;&nbsp; 112800 | 3595482 |
| Miura Co. Ltd. | &nbsp;&nbsp; 546000 | 12681767 |
| Mixi Inc. | &nbsp;&nbsp; 199300 | 3955431 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 14530170 | 332161786 |
| Mizuho Leasing Co. Ltd. | &nbsp;&nbsp; 710100 | 5358274 |
| Mizuno Corp. | &nbsp;&nbsp; 102000 | 5153340 |
| Mochida Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 134900 | 3168565 |
| Modec Inc. | &nbsp;&nbsp; 265000 | 4943309 |
| Monex Group Inc. | &nbsp;&nbsp; 1109200 | 5392386 |
| Money Forward Inc.<sup>(a)</sup> | &nbsp;&nbsp; 261000 | 8721555 |
| Monogatari Corp. (The) | &nbsp;&nbsp; 190600 | 4325733 |
| MonotaRO Co. Ltd. | &nbsp;&nbsp; 1531400 | 21648327 |
| Mori Hills REIT Investment Corp. | &nbsp;&nbsp; 10401 | 8938669 |
| Mori Trust REIT Inc. | &nbsp;&nbsp; 13706 | 6369608 |
| Morinaga & Co. Ltd./Japan | &nbsp;&nbsp; 428100 | 8216153 |
| Morinaga Milk Industry Co. Ltd. | &nbsp;&nbsp; 396300 | 9510540 |
| Morita Holdings Corp. | &nbsp;&nbsp; 90400 | 1164951 |
| MOS Food Services Inc. | &nbsp;&nbsp; 166800 | 3932982 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 7785600 | 183541907 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 10430700 | 232061938 |
| Musashi Seimitsu Industry Co. Ltd. | &nbsp;&nbsp; 246400 | 3442633 |
| Musashino Bank Ltd. (The) | &nbsp;&nbsp; 128700 | 2770722 |
| Nabtesco Corp. | &nbsp;&nbsp; 642800 | 12725436 |
| Nachi-Fujikoshi Corp. | &nbsp;&nbsp; 86300 | 1907076 |
| Nafco Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 59700 | 1192124 |
| Nagaileben Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 62000 | 1112707 |
| Nagase & Co. Ltd. | &nbsp;&nbsp; 662600 | 14556535 |
| Nagawa Co. Ltd. | &nbsp;&nbsp; 27100 | 1387686 |
| Nagoya Railroad Co. Ltd. | &nbsp;&nbsp; 1076800 | 13104519 |
| Nakanishi Inc. | &nbsp;&nbsp; 473600 | 8181333 |
| Namura Shipbuilding Co. Ltd. | &nbsp;&nbsp; 301200 | 3906154 |
| Nankai Electric Railway Co. Ltd. | &nbsp;&nbsp; 602100 | 10655728 |
| Nanto Bank Ltd. (The) | &nbsp;&nbsp; 137100 | 3199237 |
| NEC Corp. | &nbsp;&nbsp; 1495400 | 129433800 |
| NEC Networks & System Integration Corp. | &nbsp;&nbsp; 596400 | 10984204 |
| NET One Systems Co. Ltd. | &nbsp;&nbsp; 516100 | 10428455 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 2046200 | 44072493 |
| Nextage Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 269800 | 3673313 |
| NGK Insulators Ltd. | &nbsp;&nbsp; 1384900 | 18716944 |
| NH Foods Ltd. | &nbsp;&nbsp; 511800 | 16905334 |
| NHK Spring Co. Ltd. | &nbsp;&nbsp; 1283700 | 14117713 |
| Nichias Corp. | &nbsp;&nbsp; 446900 | 13920432 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Nichicon Corp. | &nbsp;&nbsp; 455500 | $3335569 |
| Nichiden Corp. | &nbsp;&nbsp; 67700 | 1561636 |
| Nichiha Corp. | &nbsp;&nbsp; 127000 | 3175526 |
| Nichirei Corp. | &nbsp;&nbsp; 639700 | 16867464 |
| Nidec Corp. | &nbsp;&nbsp; 2533900 | 111467946 |
| Nifco Inc./Japan | &nbsp;&nbsp; 533400 | 13524454 |
| Nihon Kohden Corp. | &nbsp;&nbsp; 1048800 | 16161387 |
| Nihon M&A Center Holdings Inc. | &nbsp;&nbsp; 1853700 | 8748876 |
| Nihon Parkerizing Co. Ltd. | &nbsp;&nbsp; 679000 | 5606516 |
| Nikkiso Co. Ltd. | &nbsp;&nbsp; 263200 | 2082206 |
| Nikkon Holdings Co. Ltd. | &nbsp;&nbsp; 253900 | 6403863 |
| Nikon Corp. | &nbsp;&nbsp; 1781900 | 20466258 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 6276300 | 346818228 |
| Nippn Corp., New | &nbsp;&nbsp; 284700 | 4475414 |
| Nippon Accommodations Fund Inc. | &nbsp;&nbsp; 3030 | 12965348 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 9685 | 37376838 |
| Nippon Carbon Co. Ltd. | &nbsp;&nbsp; 48700 | 1609748 |
| Nippon Ceramic Co. Ltd. | &nbsp;&nbsp; 99100 | 1639852 |
| Nippon Densetsu Kogyo Co. Ltd. | &nbsp;&nbsp; 95800 | 1288541 |
| Nippon Electric Glass Co. Ltd. | &nbsp;&nbsp; 518500 | 12372392 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 469700 | 23241159 |
| Nippon Gas Co. Ltd. | &nbsp;&nbsp; 635200 | 9901461 |
| Nippon Kanzai Holdings Co. Ltd. | &nbsp;&nbsp; 42300 | 776205 |
| Nippon Kayaku Co. Ltd. | &nbsp;&nbsp; 875200 | 7318958 |
| Nippon Light Metal Holdings Co. Ltd. | &nbsp;&nbsp; 439460 | 5164993 |
| Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp; 5725600 | 36549212 |
| Nippon Paper Industries Co. Ltd. | &nbsp;&nbsp; 562800 | 3644480 |
| Nippon Parking Development Co. Ltd. | &nbsp;&nbsp; 1071100 | 1472982 |
| Nippon Prologis REIT Inc. | &nbsp;&nbsp; 14106 | 23305900 |
| Nippon REIT Investment Corp. | &nbsp;&nbsp; 2684 | 5898385 |
| Nippon Road Co. Ltd. (The) | &nbsp;&nbsp; 136500 | 1529288 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 1044300 | 34129536 |
| Nippon Seiki Co. Ltd. | &nbsp;&nbsp; 116100 | 1060604 |
| Nippon Shinyaku Co. Ltd. | &nbsp;&nbsp; 304100 | 6953401 |
| Nippon Shokubai Co. Ltd. | &nbsp;&nbsp; 540800 | 5863979 |
| Nippon Signal Company Ltd. | &nbsp;&nbsp; 272300 | 1894202 |
| Nippon Soda Co. Ltd. | &nbsp;&nbsp; 122000 | 4386541 |
| Nippon Steel Corp. | &nbsp;&nbsp; 5144408 | 111697411 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 179077500 | 190845257 |
| Nippon Television Holdings Inc. | &nbsp;&nbsp; 290100 | 4646267 |
| Nippon Yusen KK | &nbsp;&nbsp; 2787100 | 89811174 |
| Nipro Corp. | &nbsp;&nbsp; 855900 | 7474011 |
| Nishimatsu Construction Co. Ltd. | &nbsp;&nbsp; 187200 | 6101497 |
| Nishimatsuya Chain Co. Ltd. | &nbsp;&nbsp; 418400 | 6372990 |
| Nishi-Nippon Financial Holdings Inc. | &nbsp;&nbsp; 898100 | 12228258 |
| Nishi-Nippon Railroad Co. Ltd. | &nbsp;&nbsp; 475000 | 7887153 |
| Nishio Holdings Co. Ltd. | &nbsp;&nbsp; 31100 | 844979 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 764100 | 24654406 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 14400000 | 45707392 |
| Nissan Shatai Co. Ltd. | &nbsp;&nbsp; 241100 | 1504876 |
| Nissha Co. Ltd. | &nbsp;&nbsp; 224400 | 2738009 |
| Nisshin Oillio Group Ltd. (The) | &nbsp;&nbsp; 141900 | 4896774 |
| Nisshin Seifun Group Inc. | &nbsp;&nbsp; 1287100 | 15927130 |
| Nisshinbo Holdings Inc. | &nbsp;&nbsp; 794800 | 5824257 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 1228200 | 36517803 |
| Nissui Corp. | &nbsp;&nbsp; 1923900 | 11548031 |
| Niterra Co. Ltd. | &nbsp;&nbsp; 950100 | 28140249 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 490000 | 59924765 |
| Nitta Corp. | &nbsp;&nbsp; 100500 | 2732136 |
| Nittetsu Mining Co. Ltd. | &nbsp;&nbsp; 32100 | 1017981 |
| Nitto Boseki Co. Ltd. | &nbsp;&nbsp; 135700 | 5135641 |
| Nitto Denko Corp. | &nbsp;&nbsp; 874600 | 75944550 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Nitto Kogyo Corp. | &nbsp;&nbsp; 156900 | $3567330 |
| Noevir Holdings Co. Ltd. | &nbsp;&nbsp; 88700 | 3429516 |
| NOF Corp. | &nbsp;&nbsp; 1431800 | 20518378 |
| Nohmi Bosai Ltd. | &nbsp;&nbsp; 25000 | 412934 |
| Nojima Corp. | &nbsp;&nbsp; 292800 | 3219863 |
| NOK Corp. | &nbsp;&nbsp; 591100 | 8640046 |
| Nomura Co. Ltd. | &nbsp;&nbsp; 600600 | 3487978 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 18083700 | 111496998 |
| Nomura Micro Science Co. Ltd. | &nbsp;&nbsp; 156500 | 3726530 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 671300 | 18765992 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 24633 | 24166185 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 2291540 | 70743715 |
| Noritake Co. Ltd./Nagoya Japan | &nbsp;&nbsp; 124200 | 3298307 |
| Noritsu Koki Co. Ltd. | &nbsp;&nbsp; 101100 | 2734099 |
| Noritz Corp. | &nbsp;&nbsp; 120300 | 1505983 |
| North Pacific Bank Ltd. | &nbsp;&nbsp; 2288400 | 7759627 |
| NS Solutions Corp. | &nbsp;&nbsp; 348000 | 7980524 |
| NS United Kaiun Kaisha Ltd. | &nbsp;&nbsp; 52700 | 1703385 |
| NSD Co. Ltd. | &nbsp;&nbsp; 578100 | 11900481 |
| NSK Ltd. | &nbsp;&nbsp; 2253600 | 11815408 |
| NTN Corp. | &nbsp;&nbsp; 2557600 | 5173879 |
| NTT Data Group Corp. | &nbsp;&nbsp; 3776300 | 58813670 |
| NTT UD REIT Investment Corp. | &nbsp;&nbsp; 9385 | 7270290 |
| Nxera Pharma Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 469400 | 5252316 |
| Obara Group Inc. | &nbsp;&nbsp; 63400 | 1686788 |
| Obayashi Corp. | &nbsp;&nbsp; 3943000 | 51768922 |
| OBIC Business Consultants Co. Ltd. | &nbsp;&nbsp; 174500 | 7385332 |
| Obic Co. Ltd. | &nbsp;&nbsp; 423300 | 64546086 |
| Odakyu Electric Railway Co. Ltd. | &nbsp;&nbsp; 1849400 | 18710694 |
| Ogaki Kyoritsu Bank Ltd. (The) | &nbsp;&nbsp; 186500 | 2885272 |
| Ohsho Food Service Corp. | &nbsp;&nbsp; 72600 | 4440720 |
| Oiles Corp. | &nbsp;&nbsp; 104200 | 1631334 |
| Oji Holdings Corp. | &nbsp;&nbsp; 5016100 | 21363360 |
| Okamoto Industries Inc. | &nbsp;&nbsp; 43900 | 1507743 |
| Okamura Corp. | &nbsp;&nbsp; 502200 | 7388539 |
| Okasan Securities Group Inc. | &nbsp;&nbsp; 1290800 | 6249755 |
| Oki Electric Industry Co. Ltd. | &nbsp;&nbsp; 608100 | 4126838 |
| Okinawa Cellular Telephone Co. | &nbsp;&nbsp; 115000 | 3092296 |
| Okinawa Electric Power Co. Inc. (The) | &nbsp;&nbsp; 210616 | 1555159 |
| Okinawa Financial Group Inc. | &nbsp;&nbsp; 71200 | 1370379 |
| OKUMA Corp. | &nbsp;&nbsp; 127600 | 6373613 |
| Okumura Corp. | &nbsp;&nbsp; 197100 | 6729871 |
| Olympus Corp. | &nbsp;&nbsp; 7199000 | 124284132 |
| Omron Corp. | &nbsp;&nbsp; 1059400 | 39297224 |
| One REIT Inc. | &nbsp;&nbsp; 711 | 1226807 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 2290200 | 33785775 |
| Open House Group Co. Ltd. | &nbsp;&nbsp; 471000 | 16682251 |
| Open Up Group Inc. | &nbsp;&nbsp; 305800 | 4422804 |
| Optex Group Co. Ltd. | &nbsp;&nbsp; 122700 | 1398849 |
| Optorun Co. Ltd. | &nbsp;&nbsp; 155900 | 2035989 |
| Oracle Corp./Japan | &nbsp;&nbsp; 228100 | 18619616 |
| Organo Corp. | &nbsp;&nbsp; 151800 | 6884903 |
| Orient Corp. | &nbsp;&nbsp; 569110 | 3990720 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 6598700 | 188917499 |
| ORIX Corp. | &nbsp;&nbsp; 7001100 | 169354087 |
| Orix JREIT Inc. | &nbsp;&nbsp; 16123 | 16785826 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 2242200 | 50750274 |
| Osaka Organic Chemical Industry Ltd. | &nbsp;&nbsp; 74300 | 1719340 |
| Osaka Soda Co. Ltd. | &nbsp;&nbsp; 87700 | 5753999 |
| OSAKA Titanium Technologies Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 190200 | 3115609 |
| OSG Corp. | &nbsp;&nbsp; 552800 | 7626702 |
| Otsuka Corp. | &nbsp;&nbsp; 1431000 | 31722088 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 2515300 | $128200569 |
| PAL GROUP Holdings Co. Ltd. | &nbsp;&nbsp; 262100 | 3597272 |
| PALTAC Corp. | &nbsp;&nbsp; 160500 | 4923556 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 2308700 | 60232152 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 14112600 | 115598825 |
| Paramount Bed Holdings Co. Ltd. | &nbsp;&nbsp; 217400 | 3660562 |
| Park24 Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 765500 | 8189763 |
| Pasona Group Inc.<sup>(b)</sup> | &nbsp;&nbsp; 106000 | 1669765 |
| Penta-Ocean Construction Co. Ltd. | &nbsp;&nbsp; 1699400 | 7544414 |
| PeptiDream Inc.<sup>(a)</sup> | &nbsp;&nbsp; 594200 | 10949855 |
| Persol Holdings Co. Ltd. | &nbsp;&nbsp; 10764500 | 18462238 |
| PHC Holdings Corp.<sup>(b)</sup> | &nbsp;&nbsp; 131700 | 988016 |
| Pigeon Corp. | &nbsp;&nbsp; 833200 | 8477785 |
| PILLAR Corp./Japan | &nbsp;&nbsp; 102100 | 3461996 |
| Pilot Corp. | &nbsp;&nbsp; 158200 | 4751990 |
| Piolax Inc. | &nbsp;&nbsp; 138200 | 2264194 |
| PKSHA Technology Inc.<sup>(a)</sup> | &nbsp;&nbsp; 132300 | 2895281 |
| Plus Alpha Consulting Co. Ltd. | &nbsp;&nbsp; 112800 | 1445636 |
| Pola Orbis Holdings Inc. | &nbsp;&nbsp; 566800 | 5345444 |
| Pressance Corp. | &nbsp;&nbsp; 78100 | 1055983 |
| Prestige International Inc. | &nbsp;&nbsp; 360900 | 1713437 |
| Prima Meat Packers Ltd. | &nbsp;&nbsp; 148700 | 2486005 |
| Raito Kogyo Co. Ltd. | &nbsp;&nbsp; 228800 | 3319647 |
| Raiznext Corp. | &nbsp;&nbsp; 161100 | 1979440 |
| Rakus Co. Ltd. | &nbsp;&nbsp; 565800 | 7927107 |
| Rakuten Bank Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 584500 | 13025471 |
| Rakuten Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 9118800 | 53497031 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 8983900 | 515166395 |
| Relo Group Inc. | &nbsp;&nbsp; 622600 | 7440428 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 9083200 | 156447880 |
| Rengo Co. Ltd. | &nbsp;&nbsp; 1077600 | 7515798 |
| RENOVA Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 251000 | 1538498 |
| Resona Holdings Inc. | &nbsp;&nbsp; 12726138 | 91258307 |
| Resonac Holdings Corp. | &nbsp;&nbsp; 1069000 | 26538674 |
| Resorttrust Inc. | &nbsp;&nbsp; 580500 | 9798715 |
| Retail Partners Co. Ltd. | &nbsp;&nbsp; 40800 | 457471 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 3341400 | 31106110 |
| Ricoh Leasing Co. Ltd. | &nbsp;&nbsp; 65300 | 2377106 |
| Riken Keiki Co. Ltd. | &nbsp;&nbsp; 105400 | 3094490 |
| Ringer Hut Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 164900 | 2494948 |
| Rinnai Corp. | &nbsp;&nbsp; 654100 | 16083044 |
| Riso Kagaku Corp. | &nbsp;&nbsp; 68000 | 1527376 |
| Rohm Co. Ltd. | &nbsp;&nbsp; 2080700 | 28368745 |
| Rohto Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 1203200 | 28261861 |
| Roland Corp. | &nbsp;&nbsp; 69400 | 1798671 |
| Rorze Corp.<sup>(b)</sup> | &nbsp;&nbsp; 65400 | 10636438 |
| Round One Corp. | &nbsp;&nbsp; 1434800 | 8542848 |
| Royal Holdings Co. Ltd. | &nbsp;&nbsp; 169800 | 2871503 |
| RS Technologies Co. Ltd. | &nbsp;&nbsp; 71300 | 1538649 |
| Ryohin Keikaku Co. Ltd. | &nbsp;&nbsp; 1542200 | 29082451 |
| Ryoyo Ryosan Holdings Inc. | &nbsp;&nbsp; 262504 | 5030472 |
| S Foods Inc. | &nbsp;&nbsp; 48700 | 966382 |
| Saibu Gas Holdings Co. Ltd. | &nbsp;&nbsp; 121300 | 1553248 |
| Saizeriya Co. Ltd. | &nbsp;&nbsp; 185200 | 7136380 |
| Sakai Moving Service Co. Ltd. | &nbsp;&nbsp; 61800 | 1095404 |
| Sakata INX Corp. | &nbsp;&nbsp; 49900 | 586333 |
| Sakata Seed Corp. | &nbsp;&nbsp; 195700 | 4512386 |
| Sakura Internet Inc.<sup>(b)</sup> | &nbsp;&nbsp; 127300 | 2582392 |
| SAMTY HOLDINGS Co. Ltd. /Japan | &nbsp;&nbsp; 148900 | 2720943 |
| Samty Residential Investment Corp. | &nbsp;&nbsp; 733 | 500623 |
| San-A Co. Ltd. | &nbsp;&nbsp; 126900 | 4330241 |
| San-Ai Obbli Co. Ltd. | &nbsp;&nbsp; 114000 | 1562761 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Sangetsu Corp. | &nbsp;&nbsp; 283600 | $5642376 |
| San-In Godo Bank Ltd. (The) | &nbsp;&nbsp; 879400 | 8362509 |
| Sanken Electric Co. Ltd. | &nbsp;&nbsp; 136600 | 6665934 |
| Sanki Engineering Co. Ltd. | &nbsp;&nbsp; 13100 | 204823 |
| Sankyo Co. Ltd. | &nbsp;&nbsp; 1232200 | 13682314 |
| Sankyu Inc. | &nbsp;&nbsp; 247200 | 8443813 |
| Sanrio Co. Ltd. | &nbsp;&nbsp; 960900 | 20401166 |
| Sansan Inc.<sup>(a)</sup> | &nbsp;&nbsp; 462200 | 6960377 |
| Santen Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 2058800 | 24708036 |
| Sanwa Holdings Corp. | &nbsp;&nbsp; 1224100 | 26220509 |
| Sanyo Chemical Industries Ltd. | &nbsp;&nbsp; 21100 | 578339 |
| Sanyo Denki Co. Ltd. | &nbsp;&nbsp; 34200 | 1656862 |
| Sanyo Special Steel Co. Ltd. | &nbsp;&nbsp; 110700 | 1568872 |
| Sapporo Holdings Ltd. | &nbsp;&nbsp; 467500 | 20086168 |
| Sato Holdings Corp. | &nbsp;&nbsp; 160200 | 2308448 |
| Sawai Group Holdings Co. Ltd. | &nbsp;&nbsp; 224500 | 9855453 |
| SBI Holdings Inc. | &nbsp;&nbsp; 1606900 | 41769174 |
| SBI Sumishin Net Bank Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 322800 | 6168578 |
| SBS Holdings Inc. | &nbsp;&nbsp; 58000 | 1066206 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 501100 | 42463065 |
| SCSK Corp. | &nbsp;&nbsp; 898400 | 17687618 |
| Secom Co. Ltd. | &nbsp;&nbsp; 1272800 | 81271779 |
| Sega Sammy Holdings Inc. | &nbsp;&nbsp; 955800 | 15478102 |
| Seibu Holdings Inc. | &nbsp;&nbsp; 1403000 | 26336969 |
| Seiko Epson Corp. | &nbsp;&nbsp; 1752100 | 30329574 |
| Seiko Group Corp. | &nbsp;&nbsp; 145700 | 4354879 |
| Seino Holdings Co. Ltd. | &nbsp;&nbsp; 783200 | 12257700 |
| Seiren Co. Ltd. | &nbsp;&nbsp; 218800 | 3443147 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 2429400 | 36654771 |
| Sekisui House Ltd. | &nbsp;&nbsp; 3687200 | 92387679 |
| Sekisui House REIT Inc. | &nbsp;&nbsp; 25289 | 13363066 |
| Senko Group Holdings Co. Ltd. | &nbsp;&nbsp; 753400 | 5757503 |
| Septeni Holdings Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 342000 | 866169 |
| Seria Co. Ltd. | &nbsp;&nbsp; 251600 | 5884209 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 13520700 | 161907036 |
| Seven Bank Ltd. | &nbsp;&nbsp; 3994300 | 7493487 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 1889100 | 19209591 |
| Sharp Corp./Japan<sup>(a)(b)</sup> | &nbsp;&nbsp; 1542599 | 8983746 |
| Shibaura Machine Co. Ltd. | &nbsp;&nbsp; 124300 | 3054858 |
| Shibaura Mechatronics Corp. | &nbsp;&nbsp; 76600 | 4035993 |
| SHIFT Inc.<sup>(a)</sup> | &nbsp;&nbsp; 75000 | 5761286 |
| Shiga Bank Ltd. (The) | &nbsp;&nbsp; 219700 | 5900608 |
| Shikoku Electric Power Co. Inc. | &nbsp;&nbsp; 858600 | 7488212 |
| Shikoku Kasei Holdings Corp. | &nbsp;&nbsp; 97200 | 1485946 |
| Shimadzu Corp. | &nbsp;&nbsp; 1449200 | 42743111 |
| Shimamura Co. Ltd. | &nbsp;&nbsp; 267100 | 13090821 |
| Shimano Inc. | &nbsp;&nbsp; 473700 | 84036282 |
| Shimizu Corp. | &nbsp;&nbsp; 3121400 | 19617828 |
| Shin Nippon Biomedical Laboratories Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 118300 | 988907 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 10907600 | 484632014 |
| Shin-Etsu Polymer Co. Ltd. | &nbsp;&nbsp; 123700 | 1327788 |
| Shinko Electric Industries Co. Ltd. | &nbsp;&nbsp; 455400 | 17320915 |
| Shinmaywa Industries Ltd. | &nbsp;&nbsp; 551200 | 5422182 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 1566000 | 68886886 |
| Ship Healthcare Holdings Inc. | &nbsp;&nbsp; 562000 | 8578712 |
| Shiseido Co. Ltd. | &nbsp;&nbsp; 2421200 | 75665982 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 2640500 | 26374083 |
| Shizuoka Gas Co. Ltd. | &nbsp;&nbsp; 137200 | 872235 |
| SHO-BOND Holdings Co. Ltd. | &nbsp;&nbsp; 262900 | 10124952 |
| Shochiku Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 46700 | 2991943 |
| Shoei Co. Ltd. | &nbsp;&nbsp; 293500 | 3889904 |
| Shoei Foods Corp.<sup>(b)</sup> | &nbsp;&nbsp; 46600 | 1578934 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Showa Sangyo Co. Ltd. | &nbsp;&nbsp; 79900 | $1744058 |
| Siix Corp. | &nbsp;&nbsp; 170500 | 1420674 |
| Simplex Holdings Inc. | &nbsp;&nbsp; 150400 | 2168340 |
| SKY Perfect JSAT Holdings Inc. | &nbsp;&nbsp; 1423000 | 8372448 |
| Skylark Holdings Co. Ltd. | &nbsp;&nbsp; 1409400 | 19313320 |
| SMC Corp. | &nbsp;&nbsp; 346500 | 168594831 |
| SMS Co. Ltd. | &nbsp;&nbsp; 492100 | 7172700 |
| Socionext Inc. | &nbsp;&nbsp; 1088700 | 21984812 |
| SoftBank Corp. | &nbsp;&nbsp; 17185300 | 224177959 |
| SoftBank Group Corp. | &nbsp;&nbsp; 6227400 | 380571450 |
| Sohgo Security Services Co. Ltd. | &nbsp;&nbsp; 2401100 | 15358183 |
| Sojitz Corp. | &nbsp;&nbsp; 1364500 | 32274613 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 5383100 | 122744991 |
| Sony Group Corp. | &nbsp;&nbsp; 7562000 | 671646217 |
| SOSiLA Logistics REIT Inc. | &nbsp;&nbsp; 3616 | 2797309 |
| Sotetsu Holdings Inc. | &nbsp;&nbsp; 527800 | 8657131 |
| Sparx Group Co. Ltd. | &nbsp;&nbsp; 21120 | 231092 |
| Square Enix Holdings Co. Ltd. | &nbsp;&nbsp; 514500 | 17375653 |
| SRE Holdings Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 56400 | 1817105 |
| Stanley Electric Co. Ltd. | &nbsp;&nbsp; 779900 | 15312487 |
| Star Asia Investment Corp. | &nbsp;&nbsp; 11082 | 4183694 |
| Star Micronics Co. Ltd. | &nbsp;&nbsp; 222600 | 3123851 |
| Starts Corp. Inc. | &nbsp;&nbsp; 139500 | 3217785 |
| Starts Proceed Investment Corp. | &nbsp;&nbsp; 385 | 499866 |
| Strike Co. Ltd. | &nbsp;&nbsp; 51300 | 1385529 |
| Subaru Corp. | &nbsp;&nbsp; 3682600 | 70803498 |
| Sugi Holdings Co. Ltd. | &nbsp;&nbsp; 604000 | 10436502 |
| SUMCO Corp. | &nbsp;&nbsp; 2158300 | 35483290 |
| Sumiseki Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 111400 | 774236 |
| Sumitomo Bakelite Co. Ltd. | &nbsp;&nbsp; 394300 | 11100299 |
| Sumitomo Chemical Co. Ltd. | &nbsp;&nbsp; 8966700 | 22985718 |
| Sumitomo Corp. | &nbsp;&nbsp; 6273700 | 155886016 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 4325900 | 65438171 |
| Sumitomo Forestry Co. Ltd. | &nbsp;&nbsp; 948900 | 40463894 |
| Sumitomo Heavy Industries Ltd. | &nbsp;&nbsp; 662700 | 17797000 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 1501200 | 45777699 |
| Sumitomo Mitsui Construction Co. Ltd. | &nbsp;&nbsp; 1227940 | 3249456 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 7573800 | 546926214 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 3921700 | 99128159 |
| Sumitomo Osaka Cement Co. Ltd. | &nbsp;&nbsp; 155900 | 4389725 |
| Sumitomo Pharma Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 996400 | 2762403 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 1771300 | 58546299 |
| Sumitomo Riko Co. Ltd. | &nbsp;&nbsp; 107800 | 1088043 |
| Sumitomo Rubber Industries Ltd. | &nbsp;&nbsp; 987500 | 10289292 |
| Sumitomo Warehouse Co. Ltd. (The) | &nbsp;&nbsp; 490500 | 9223893 |
| Sundrug Co. Ltd. | &nbsp;&nbsp; 440500 | 12232841 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 844800 | 30341963 |
| Suruga Bank Ltd. | &nbsp;&nbsp; 813200 | 6453329 |
| Suzuken Co. Ltd. | &nbsp;&nbsp; 354800 | 12930264 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 9509500 | 109284903 |
| Sysmex Corp. | &nbsp;&nbsp; 3011600 | 49303704 |
| Systena Corp. | &nbsp;&nbsp; 2064300 | 4646307 |
| T Hasegawa Co. Ltd. | &nbsp;&nbsp; 126600 | 2718290 |
| T&D Holdings Inc. | &nbsp;&nbsp; 2940800 | 55127464 |
| Tadano Ltd. | &nbsp;&nbsp; 678200 | 5042830 |
| Taihei Dengyo Kaisha Ltd. | &nbsp;&nbsp; 54000 | 1905674 |
| Taiheiyo Cement Corp. | &nbsp;&nbsp; 679400 | 18556487 |
| Taikisha Ltd. | &nbsp;&nbsp; 121800 | 4198594 |
| Taisei Corp. | &nbsp;&nbsp; 1013300 | 43036218 |
| Taiyo Holdings Co. Ltd. | &nbsp;&nbsp; 206000 | 4923183 |
| Taiyo Yuden Co. Ltd. | &nbsp;&nbsp; 753900 | 22654786 |
| Takamatsu Construction Group Co. Ltd. | &nbsp;&nbsp; 75700 | 1580465 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Takara Bio Inc. | &nbsp;&nbsp; 261300 | $2005655 |
| Takara Holdings Inc. | &nbsp;&nbsp; 916000 | 6949559 |
| Takara Leben Real Estate Investment Corp. | &nbsp;&nbsp; 5783 | 3854802 |
| Takasago Thermal Engineering Co. Ltd. | &nbsp;&nbsp; 251000 | 9885110 |
| Takashimaya Co. Ltd. | &nbsp;&nbsp; 895100 | 16575488 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 9525780 | 267429275 |
| Takeuchi Manufacturing Co. Ltd. | &nbsp;&nbsp; 236900 | 7577822 |
| Takuma Co. Ltd. | &nbsp;&nbsp; 525200 | 6097575 |
| Tama Home Co. Ltd. | &nbsp;&nbsp; 99600 | 2979578 |
| Tamron Co. Ltd. | &nbsp;&nbsp; 228200 | 6454454 |
| TBS Holdings Inc. | &nbsp;&nbsp; 200200 | 5654084 |
| TDK Corp. | &nbsp;&nbsp; 2358700 | 164548333 |
| TechMatrix Corp. | &nbsp;&nbsp; 187900 | 2626562 |
| TechnoPro Holdings Inc. | &nbsp;&nbsp; 638500 | 12277708 |
| Teijin Ltd. | &nbsp;&nbsp; 1001300 | 9635533 |
| Terumo Corp. | &nbsp;&nbsp; 8094600 | 145122819 |
| T-Gaia Corp. | &nbsp;&nbsp; 114300 | 2960203 |
| THK Co. Ltd. | &nbsp;&nbsp; 692800 | 13080022 |
| TIS Inc. | &nbsp;&nbsp; 1308300 | 28025657 |
| TKC Corp. | &nbsp;&nbsp; 92800 | 2197936 |
| TKP Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 81700 | 983598 |
| Toa Corp./Tokyo | &nbsp;&nbsp; 385600 | 2599631 |
| Toagosei Co. Ltd. | &nbsp;&nbsp; 697800 | 7475433 |
| Tobu Railway Co. Ltd. | &nbsp;&nbsp; 1111800 | 19529834 |
| Tocalo Co. Ltd. | &nbsp;&nbsp; 538500 | 7037173 |
| Toda Corp. | &nbsp;&nbsp; 1502100 | 10856027 |
| Toei Animation Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 318800 | 4944032 |
| Toei Co. Ltd. | &nbsp;&nbsp; 183000 | 4714712 |
| Toenec Corp. | &nbsp;&nbsp; 35900 | 1192987 |
| Toho Bank Ltd. (The) | &nbsp;&nbsp; 935400 | 1963006 |
| Toho Co. Ltd./Tokyo | &nbsp;&nbsp; 668500 | 24007319 |
| Toho Gas Co. Ltd. | &nbsp;&nbsp; 457700 | 14136657 |
| Toho Holdings Co. Ltd. | &nbsp;&nbsp; 452100 | 13146364 |
| Toho Titanium Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 185300 | 1694253 |
| Tohoku Electric Power Co. Inc. | &nbsp;&nbsp; 2756900 | 23440996 |
| Tokai Carbon Co. Ltd. | &nbsp;&nbsp; 1321300 | 8467562 |
| Tokai Corp./Gifu | &nbsp;&nbsp; 56700 | 846149 |
| TOKAI Holdings Corp. | &nbsp;&nbsp; 799800 | 5373155 |
| Tokai Rika Co. Ltd. | &nbsp;&nbsp; 256000 | 3474034 |
| Tokai Tokyo Financial Holdings Inc. | &nbsp;&nbsp; 2021600 | 7900551 |
| Token Corp. | &nbsp;&nbsp; 52210 | 4125099 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 11358200 | 445617463 |
| Tokuyama Corp. | &nbsp;&nbsp; 431300 | 8454964 |
| Tokyo Century Corp. | &nbsp;&nbsp; 793200 | 8449304 |
| Tokyo Electric Power Co. Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 9279100 | 46476784 |
| Tokyo Electron Device Ltd. | &nbsp;&nbsp; 128600 | 3342168 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 2856300 | 597673208 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 2255900 | 49425925 |
| Tokyo Kiraboshi Financial Group Inc. | &nbsp;&nbsp; 172900 | 5210949 |
| Tokyo Ohka Kogyo Co. Ltd. | &nbsp;&nbsp; 595100 | 15317765 |
| Tokyo Seimitsu Co. Ltd. | &nbsp;&nbsp; 245100 | 16895092 |
| Tokyo Steel Manufacturing Co. Ltd. | &nbsp;&nbsp; 499500 | 6354685 |
| Tokyo Tatemono Co. Ltd. | &nbsp;&nbsp; 1140700 | 19899063 |
| Tokyotokeiba Co. Ltd. | &nbsp;&nbsp; 83000 | 2326436 |
| Tokyu Construction Co. Ltd. | &nbsp;&nbsp; 637000 | 3349568 |
| Tokyu Corp. | &nbsp;&nbsp; 3026100 | 36662350 |
| Tokyu Fudosan Holdings Corp. | &nbsp;&nbsp; 3595900 | 25963414 |
| Tokyu REIT Inc. | &nbsp;&nbsp; 6584 | 6657399 |
| TOMONY Holdings Inc. | &nbsp;&nbsp; 946400 | 2705195 |
| Tomy Co. Ltd. | &nbsp;&nbsp; 616600 | 13990928 |
| Topcon Corp. | &nbsp;&nbsp; 665100 | 6879185 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 1469800 | 41574973 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Topre Corp. | &nbsp;&nbsp; 181500 | $2490497 |
| Toray Industries Inc. | &nbsp;&nbsp; 8298100 | 43142257 |
| Toridoll Holdings Corp.<sup>(b)</sup> | &nbsp;&nbsp; 279000 | 7296607 |
| Torii Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 56300 | 1403902 |
| Tosei Corp. | &nbsp;&nbsp; 69200 | 1154916 |
| Toshiba TEC Corp. | &nbsp;&nbsp; 164000 | 3676079 |
| Tosoh Corp. | &nbsp;&nbsp; 1594200 | 21686406 |
| Totetsu Kogyo Co. Ltd. | &nbsp;&nbsp; 120100 | 2602518 |
| TOTO Ltd. | &nbsp;&nbsp; 866600 | 23861990 |
| Towa Corp.<sup>(b)</sup> | &nbsp;&nbsp; 126900 | 7309598 |
| Towa Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 120900 | 2473606 |
| Toyo Construction Co. Ltd. | &nbsp;&nbsp; 308000 | 3141400 |
| Toyo Gosei Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 29200 | 1814172 |
| Toyo Seikan Group Holdings Ltd. | &nbsp;&nbsp; 759100 | 13033972 |
| Toyo Suisan Kaisha Ltd. | &nbsp;&nbsp; 545700 | 36641538 |
| Toyo Tanso Co. Ltd. | &nbsp;&nbsp; 106900 | 4343231 |
| Toyo Tire Corp. | &nbsp;&nbsp; 731000 | 11926884 |
| Toyobo Co. Ltd. | &nbsp;&nbsp; 587300 | 4032305 |
| Toyoda Gosei Co. Ltd. | &nbsp;&nbsp; 348600 | 6364978 |
| Toyota Boshoku Corp. | &nbsp;&nbsp; 533500 | 7189272 |
| Toyota Industries Corp. | &nbsp;&nbsp; 884800 | 74385219 |
| Toyota Motor Corp. | &nbsp;&nbsp; 64168425 | 1232723899 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 3843400 | 76841167 |
| Trancom Co. Ltd. | &nbsp;&nbsp; 8300 | 368714 |
| Transcosmos Inc. | &nbsp;&nbsp; 115500 | 2659278 |
| TRE Holdings Corp. | &nbsp;&nbsp; 209200 | 1826298 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 813900 | 39012250 |
| Tri Chemical Laboratories Inc. | &nbsp;&nbsp; 157500 | 3886287 |
| Trusco Nakayama Corp. | &nbsp;&nbsp; 242900 | 3932019 |
| TS Tech Co. Ltd. | &nbsp;&nbsp; 552700 | 7329306 |
| Tsubakimoto Chain Co. | &nbsp;&nbsp; 129100 | 5582969 |
| Tsuburaya Fields Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 203600 | 2142246 |
| Tsugami Corp. | &nbsp;&nbsp; 213300 | 2343864 |
| Tsumura & Co. | &nbsp;&nbsp; 465000 | 12328690 |
| Tsuruha Holdings Inc. | &nbsp;&nbsp; 238400 | 14769803 |
| TV Asahi Holdings Corp. | &nbsp;&nbsp; 100400 | 1399226 |
| UACJ Corp. | &nbsp;&nbsp; 173600 | 4942802 |
| UBE Corp. | &nbsp;&nbsp; 579400 | 10352430 |
| Ulvac Inc. | &nbsp;&nbsp; 274300 | 16808251 |
| U-Next Holdings Co. Ltd. | &nbsp;&nbsp; 109100 | 3757260 |
| Unicharm Corp. | &nbsp;&nbsp; 2450700 | 82099914 |
| United Super Markets Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 502900 | 3014614 |
| United Urban Investment Corp. | &nbsp;&nbsp; 18150 | 17373170 |
| Universal Entertainment Corp. | &nbsp;&nbsp; 127900 | 1304661 |
| Ushio Inc. | &nbsp;&nbsp; 597500 | 8567891 |
| USS Co. Ltd. | &nbsp;&nbsp; 2520200 | 22730961 |
| UT Group Co. Ltd. | &nbsp;&nbsp; 169200 | 3665123 |
| Valor Holdings Co. Ltd. | &nbsp;&nbsp; 194300 | 3304731 |
| Vector Inc. | &nbsp;&nbsp; 110500 | 727984 |
| Visional Inc.<sup>(a)</sup> | &nbsp;&nbsp; 138300 | 7301916 |
| VT Holdings Co. Ltd. | &nbsp;&nbsp; 606100 | 2107096 |
| Wacoal Holdings Corp. | &nbsp;&nbsp; 253600 | 7390423 |
| Wacom Co. Ltd. | &nbsp;&nbsp; 885500 | 4270258 |
| WealthNavi Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 225200 | 2055999 |
| Welcia Holdings Co. Ltd. | &nbsp;&nbsp; 577500 | 7752428 |
| West Holdings Corp. | &nbsp;&nbsp; 127730 | 1968369 |
| West Japan Railway Co. | &nbsp;&nbsp; 2615900 | 51499310 |
| WingArc1st Inc. | &nbsp;&nbsp; 105300 | 1962073 |
| Workman Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 123100 | 3518808 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 1578000 | 32357544 |
| Yamada Holdings Co. Ltd. | &nbsp;&nbsp; 4071500 | 12353090 |
| Yamaguchi Financial Group Inc. | &nbsp;&nbsp; 1284700 | 15970017 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Yamaha Corp. | &nbsp;&nbsp; 838600 | $19932761 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 5366800 | 49975513 |
| YA-MAN Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 190900 | 1067889 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 1626700 | 19756407 |
| Yamato Kogyo Co. Ltd. | &nbsp;&nbsp; 233800 | 12355548 |
| Yamazaki Baking Co. Ltd. | &nbsp;&nbsp; 728200 | 18005152 |
| Yamazen Corp. | &nbsp;&nbsp; 474000 | 4903048 |
| Yaoko Co. Ltd. | &nbsp;&nbsp; 90500 | 5535026 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 1462000 | 50883177 |
| Yellow Hat Ltd. | &nbsp;&nbsp; 157500 | 2757220 |
| Yodogawa Steel Works Ltd. | &nbsp;&nbsp; 87000 | 3271471 |
| Yokogawa Bridge Holdings Corp. | &nbsp;&nbsp; 140300 | 2538958 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 1375000 | 34804322 |
| Yokohama Rubber Co. Ltd. (The) | &nbsp;&nbsp; 741800 | 16860624 |
| Yokorei Co. Ltd. | &nbsp;&nbsp; 268900 | 1944547 |
| Yonex Co. Ltd. | &nbsp;&nbsp; 347700 | 5078506 |
| Yoshinoya Holdings Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 511800 | 9848414 |
| Yuasa Trading Co. Ltd. | &nbsp;&nbsp; 68100 | 2540664 |
| Zenkoku Hosho Co. Ltd. | &nbsp;&nbsp; 293700 | 12148730 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 593500 | 24157702 |
| Zeon Corp. | &nbsp;&nbsp; 872300 | 7704215 |
| ZERIA Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 18600 | 271678 |
| Zojirushi Corp. | &nbsp;&nbsp; 165200 | 1654358 |
| ZOZO Inc. | &nbsp;&nbsp; 880800 | 25785357 |
| Zuken Inc. | &nbsp;&nbsp; 44300 | 1085597 |
|  |  | 29849691284 |
| **Netherlands — 4.5%** | **Netherlands — 4.5%** | **Netherlands — 4.5%** |
| Aalberts NV | &nbsp;&nbsp; 601728 | 23008643 |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 2752839 | 48055901 |
| Adyen NV<sup>(a)(c)</sup> | &nbsp;&nbsp; 131643 | 161030737 |
| Aegon Ltd. | &nbsp;&nbsp; 9360344 | 60573152 |
| AerCap Holdings NV | &nbsp;&nbsp; 1253644 | 117779854 |
| Akzo Nobel NV | &nbsp;&nbsp; 1034106 | 63941058 |
| Alfen NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 131899 | 2438635 |
| Allfunds Group PLC | &nbsp;&nbsp; 2195129 | 13193711 |
| AMG Critical Materials NV | &nbsp;&nbsp; 214343 | 3646346 |
| Arcadis NV | &nbsp;&nbsp; 459117 | 32790656 |
| ASM International NV | &nbsp;&nbsp; 263900 | 181568734 |
| ASML Holding NV | &nbsp;&nbsp; 2418507 | 2252044332 |
| ASR Nederland NV | &nbsp;&nbsp; 948735 | 47666573 |
| Basic-Fit NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 310487 | 7511187 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 468523 | 60357292 |
| Brunel International NV<sup>(b)</sup> | &nbsp;&nbsp; 238450 | 2718433 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 1294347 | 95483978 |
| Corbion NV | &nbsp;&nbsp; 360312 | 8065696 |
| DSM-Firmenich AG | &nbsp;&nbsp; 1126411 | 143807644 |
| Eurocommercial Properties NV | &nbsp;&nbsp; 293878 | 7319716 |
| EXOR NV, NVS | &nbsp;&nbsp; 610450 | 62578695 |
| Fastned BV<sup>(a)(b)</sup> | &nbsp;&nbsp; 33217 | 621919 |
| Flow Traders Ltd., NVS | &nbsp;&nbsp; 199083 | 3318816 |
| Fugro NV | &nbsp;&nbsp; 699891 | 18692675 |
| Heineken Holding NV | &nbsp;&nbsp; 788821 | 58128581 |
| Heineken NV | &nbsp;&nbsp; 1741467 | 154539088 |
| IMCD NV | &nbsp;&nbsp; 345639 | 49700617 |
| ING Groep NV | &nbsp;&nbsp; 19954631 | 362195381 |
| InPost SA<sup>(a)</sup> | &nbsp;&nbsp; 1295191 | 22439876 |
| JDE Peet's NV | &nbsp;&nbsp; 705034 | 15504188 |
| Just Eat Takeaway.com NV<sup>(a)(c)</sup> | &nbsp;&nbsp; 1184329 | 15093534 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 5706819 | 183846254 |
| Koninklijke KPN NV | &nbsp;&nbsp; 23712851 | 93432997 |
| Koninklijke Philips NV<sup>(a)</sup> | &nbsp;&nbsp; 4869434 | 136780851 |
| Koninklijke Vopak NV | &nbsp;&nbsp; 431951 | 19296580 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| NN Group NV | &nbsp;&nbsp; 1629122 | $81756117 |
| OCI NV | &nbsp;&nbsp; 639029 | 15400844 |
| Pharming Group NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 4559575 | 3946900 |
| PostNL NV | &nbsp;&nbsp; 2078556 | 3068994 |
| Prosus NV | &nbsp;&nbsp; 8618507 | 300641806 |
| Randstad NV | &nbsp;&nbsp; 682421 | 33237287 |
| Royal BAM Group NV | &nbsp;&nbsp; 1893823 | 7848711 |
| SBM Offshore NV | &nbsp;&nbsp; 894945 | 14503703 |
| Signify NV<sup>(c)</sup> | &nbsp;&nbsp; 768625 | 19026833 |
| Sligro Food Group NV<sup>(b)</sup> | &nbsp;&nbsp; 135204 | 1796758 |
| TKH Group NV | &nbsp;&nbsp; 252372 | 11059373 |
| TomTom NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 563744 | 3093056 |
| Universal Music Group NV | &nbsp;&nbsp; 4961628 | 118208173 |
| Van Lanschot Kempen NV | &nbsp;&nbsp; 202896 | 8781195 |
| Vastned Retail NV | &nbsp;&nbsp; 151844 | 3845396 |
| Wereldhave NV | &nbsp;&nbsp; 239874 | 3598099 |
| Wolters Kluwer NV | &nbsp;&nbsp; 1500760 | 251241161 |
|  |  | 5410226736 |
| **New Zealand — 0.3%** | **New Zealand — 0.3%** | **New Zealand — 0.3%** |
| Air New Zealand Ltd. | &nbsp;&nbsp; 4990451 | 1722639 |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 7683624 | 34205351 |
| Contact Energy Ltd. | &nbsp;&nbsp; 4611474 | 23328405 |
| EBOS Group Ltd. | &nbsp;&nbsp; 962217 | 20615880 |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 3512513 | 67808472 |
| Fletcher Building Ltd. | &nbsp;&nbsp; 4634613 | 8605863 |
| Goodman Property Trust | &nbsp;&nbsp; 5908042 | 7260892 |
| Infratil Ltd. | &nbsp;&nbsp; 5586459 | 35888907 |
| Kiwi Property Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 7316627 | 3929509 |
| Mercury NZ Ltd. | &nbsp;&nbsp; 4398256 | 18009236 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 7549040 | 29203267 |
| Ryman Healthcare Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4330085 | 11704586 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 11085046 | 28488377 |
|  |  | 290771384 |
| **Norway — 0.9%** | **Norway — 0.9%** | **Norway — 0.9%** |
| Aker ASA, Class A | &nbsp;&nbsp; 149589 | 8775139 |
| Aker BP ASA | &nbsp;&nbsp; 1961426 | 47494351 |
| Aker Carbon Capture ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 2108111 | 1230531 |
| Aker Solutions ASA | &nbsp;&nbsp; 1563341 | 7458930 |
| Atea ASA | &nbsp;&nbsp; 611236 | 8134426 |
| Austevoll Seafood ASA | &nbsp;&nbsp; 637644 | 5266080 |
| Avance Gas Holding Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 91431 | 1406167 |
| Bakkafrost P/F | &nbsp;&nbsp; 290905 | 15195328 |
| Borr Drilling Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1257143 | 8541466 |
| Borregaard ASA | &nbsp;&nbsp; 709886 | 12166946 |
| Cadeler AS<sup>(a)</sup> | &nbsp;&nbsp; 1004979 | 6493779 |
| Cavendish Hydrogen ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 200361 | 341642 |
| Cool Co. Ltd. | &nbsp;&nbsp; 138421 | 1687349 |
| Crayon Group Holding ASA<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 430202 | 5132510 |
| DNB Bank ASA | &nbsp;&nbsp; 5336053 | 110243057 |
| DNO ASA | &nbsp;&nbsp; 2596370 | 2644027 |
| DOF Group ASA<sup>(a)</sup> | &nbsp;&nbsp; 839048 | 8677506 |
| Elkem ASA<sup>(a)(c)</sup> | &nbsp;&nbsp; 2198185 | 4587476 |
| Entra ASA<sup>(a)(c)</sup> | &nbsp;&nbsp; 695130 | 7813914 |
| Equinor ASA | &nbsp;&nbsp; 5411644 | 143301391 |
| Europris ASA<sup>(c)</sup> | &nbsp;&nbsp; 984907 | 5876599 |
| Flex LNG Ltd. | &nbsp;&nbsp; 188705 | 5088355 |
| Frontline PLC, NVS | &nbsp;&nbsp; 869477 | 21428919 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 1139694 | 19281080 |
| Golden Ocean Group Ltd. | &nbsp;&nbsp; 764149 | 9497058 |
| Grieg Seafood ASA<sup>(b)</sup> | &nbsp;&nbsp; 386101 | 2252427 |
| Hafnia Ltd. | &nbsp;&nbsp; 1693145 | 13415536 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| Hoegh Autoliners ASA | &nbsp;&nbsp; 717909 | $7847181 |
| Kitron ASA | &nbsp;&nbsp; 755172 | 2517745 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 549984 | 55303438 |
| Leroy Seafood Group ASA | &nbsp;&nbsp; 1691839 | 7350024 |
| Mowi ASA | &nbsp;&nbsp; 2787284 | 47045205 |
| MPC Container Ships ASA | &nbsp;&nbsp; 2188597 | 4591735 |
| NEL ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 10018087 | 5397567 |
| Nordic Semiconductor ASA<sup>(a)</sup> | &nbsp;&nbsp; 1100552 | 13612014 |
| Norsk Hydro ASA | &nbsp;&nbsp; 7886380 | 43744617 |
| Norwegian Air Shuttle ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 4392504 | 4584047 |
| Nykode Therapeutics ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 565678 | 778678 |
| Odfjell Drilling Ltd. | &nbsp;&nbsp; 529699 | 2768227 |
| Orkla ASA | &nbsp;&nbsp; 4311997 | 36391064 |
| Protector Forsikring ASA | &nbsp;&nbsp; 608994 | 12585464 |
| REC Silicon ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 1520335 | 1247793 |
| Salmar ASA | &nbsp;&nbsp; 429259 | 24697338 |
| Scatec ASA<sup>(a)(c)</sup> | &nbsp;&nbsp; 708087 | 5715423 |
| Schibsted ASA, Class A | &nbsp;&nbsp; 459424 | 13205082 |
| Schibsted ASA, Class B | &nbsp;&nbsp; 534467 | 14529257 |
| Seadrill Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 173416 | 9549501 |
| SpareBank 1 Nord Norge | &nbsp;&nbsp; 546829 | 5407846 |
| SpareBank 1 Oestlandet | &nbsp;&nbsp; 10571 | 145635 |
| SpareBank 1 SMN | &nbsp;&nbsp; 1172055 | 17494994 |
| SpareBank 1 SR-Bank ASA | &nbsp;&nbsp; 1085757 | 13938519 |
| Stolt-Nielsen Ltd. | &nbsp;&nbsp; 148097 | 5809535 |
| Storebrand ASA | &nbsp;&nbsp; 2629009 | 26387257 |
| Subsea 7 SA | &nbsp;&nbsp; 1384159 | 26624321 |
| Telenor ASA | &nbsp;&nbsp; 3935436 | 46890792 |
| TGS ASA | &nbsp;&nbsp; 1229547 | 15035067 |
| TOMRA Systems ASA | &nbsp;&nbsp; 1419037 | 23390402 |
| Wallenius Wilhelmsen ASA | &nbsp;&nbsp; 705267 | 6557749 |
| Yara International ASA | &nbsp;&nbsp; 975539 | 27789542 |
|  |  | 1012365048 |
| **Portugal — 0.2%** | **Portugal — 0.2%** | **Portugal — 0.2%** |
| Altri SGPS SA<sup>(b)</sup> | &nbsp;&nbsp; 703193 | 3824178 |
| Banco Comercial Portugues SA, Class R | &nbsp;&nbsp; 50064467 | 21104805 |
| Corticeira Amorim SGPS SA | &nbsp;&nbsp; 47650 | 469280 |
| CTT-Correios de Portugal SA | &nbsp;&nbsp; 875804 | 3957877 |
| EDP Renovaveis SA | &nbsp;&nbsp; 1877426 | 29186526 |
| EDP SA | &nbsp;&nbsp; 18787895 | 77433656 |
| Galp Energia SGPS SA | &nbsp;&nbsp; 2828125 | 59465316 |
| Greenvolt Energias Renovaveis SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 525066 | 4727862 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 1646687 | 28781349 |
| Mota-Engil SGPS SA | &nbsp;&nbsp; 521882 | 2047704 |
| Navigator Co. SA (The) | &nbsp;&nbsp; 1810128 | 7344469 |
| NOS SGPS SA | &nbsp;&nbsp; 1192099 | 4586480 |
| REN - Redes Energeticas Nacionais SGPS SA | &nbsp;&nbsp; 3229322 | 8189545 |
| Sonae SGPS SA | &nbsp;&nbsp; 7154472 | 7297670 |
|  |  | 258416717 |
| **Singapore — 1.5%** | **Singapore — 1.5%** | **Singapore — 1.5%** |
| AEM Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1733968 | 2187625 |
| AIMS APAC REIT<sup>(b)</sup> | &nbsp;&nbsp; 787193 | 772055 |
| Best World International Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 831800 | 1561920 |
| BW LPG Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 598861 | 9731642 |
| CapitaLand Ascendas REIT<sup>(b)</sup> | &nbsp;&nbsp; 23428103 | 47829838 |
| CapitaLand Ascott Trust | &nbsp;&nbsp; 13651768 | 9217400 |
| CapitaLand China Trust<sup>(b)</sup> | &nbsp;&nbsp; 7356080 | 3799643 |
| Capitaland India Trust<sup>(b)</sup> | &nbsp;&nbsp; 5018446 | 4098922 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 33334257 | 52069321 |
| CapitaLand Investment Ltd./Singapore | &nbsp;&nbsp; 15684400 | 31800634 |
| CDL Hospitality Trusts | &nbsp;&nbsp; 7439646 | 5382726 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Singapore (continued)** | **Singapore (continued)** | **Singapore (continued)** |
| City Developments Ltd. | &nbsp;&nbsp; 3054600 | $12177637 |
| ComfortDelGro Corp. Ltd. | &nbsp;&nbsp; 12008800 | 12598621 |
| Cromwell European Real Estate Investment Trust | &nbsp;&nbsp; 1034640 | 1567635 |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 12025990 | 329553142 |
| Digital Core REIT Management Pte Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5398800 | 3079902 |
| ESR-LOGOS REIT<sup>(b)</sup> | &nbsp;&nbsp; 49087727 | 10098844 |
| Far East Hospitality Trust | &nbsp;&nbsp; 624000 | 291920 |
| First Resources Ltd. | &nbsp;&nbsp; 3098300 | 3436807 |
| Frasers Centrepoint Trust | &nbsp;&nbsp; 6794288 | 11256240 |
| Frasers Logistics & Commercial Trust | &nbsp;&nbsp; 17366286 | 12908866 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 35683700 | 22675314 |
| Golden Agri-Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 41864600 | 8612826 |
| Grab Holdings Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 12597353 | 41571265 |
| Hutchison Port Holdings Trust, Class U | &nbsp;&nbsp; 31709400 | 3868547 |
| iFAST Corp. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 917200 | 5146857 |
| Keppel DC REIT<sup>(b)</sup> | &nbsp;&nbsp; 8377500 | 12719561 |
| Keppel Infrastructure Trust<sup>(b)</sup> | &nbsp;&nbsp; 21342069 | 7681484 |
| Keppel Ltd. | &nbsp;&nbsp; 8937300 | 44479739 |
| Keppel REIT<sup>(b)</sup> | &nbsp;&nbsp; 18622740 | 12207097 |
| Lendlease Global Commercial REIT<sup>(b)</sup> | &nbsp;&nbsp; 7800009 | 3480956 |
| Mapletree Industrial Trust | &nbsp;&nbsp; 13379020 | 23214086 |
| Mapletree Logistics Trust<sup>(b)</sup> | &nbsp;&nbsp; 20589979 | 19962283 |
| Mapletree Pan Asia Commercial Trust | &nbsp;&nbsp; 13927456 | 13395437 |
| NetLink NBN Trust<sup>(b)</sup> | &nbsp;&nbsp; 23251500 | 14785498 |
| Olam Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5076100 | 4401773 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 20155700 | 224345939 |
| Paragon REIT | &nbsp;&nbsp; 4883695 | 3215120 |
| Parkway Life REIT<sup>(b)</sup> | &nbsp;&nbsp; 2855700 | 7768942 |
| Raffles Medical Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 6964100 | 4897325 |
| Riverstone Holdings Ltd./Singapore<sup>(b)</sup> | &nbsp;&nbsp; 2901800 | 2072917 |
| Sasseur Real Estate Investment Trust<sup>(b)</sup> | &nbsp;&nbsp; 298200 | 149765 |
| SATS Ltd. | &nbsp;&nbsp; 6325326 | 15549683 |
| Sea Ltd., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 2218818 | 145776343 |
| Seatrium Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 13244887 | 16678480 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 5979800 | 21381187 |
| Sheng Siong Group Ltd. | &nbsp;&nbsp; 4741400 | 5460857 |
| SIA Engineering Co. Ltd. | &nbsp;&nbsp; 336100 | 576080 |
| Singapore Airlines Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 8989700 | 46979357 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 5063400 | 37331952 |
| Singapore Post Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 10290300 | 3387246 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 9677700 | 32040709 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 49841200 | 115465471 |
| Starhill Global REIT | &nbsp;&nbsp; 11292000 | 4181596 |
| StarHub Ltd. | &nbsp;&nbsp; 4352900 | 4135695 |
| Suntec REIT<sup>(b)</sup> | &nbsp;&nbsp; 12989800 | 11494860 |
| UMS Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3239200 | 2722518 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 7609000 | 184508209 |
| UOL Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2705000 | 10929056 |
| Venture Corp. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1745100 | 19755178 |
| Wilmar International Ltd. | &nbsp;&nbsp; 11350300 | 27065171 |
| Yangzijiang Financial Holding Ltd. | &nbsp;&nbsp; 14844900 | 3785999 |
| Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp; 16281600 | 32827942 |
| Yanlord Land Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 6577600 | 2214344 |
|  |  | 1790322004 |
| **Spain — 2.5%** | **Spain — 2.5%** | **Spain — 2.5%** |
| Acciona SA<sup>(b)</sup> | &nbsp;&nbsp; 143588 | 18615254 |
| Acerinox SA | &nbsp;&nbsp; 1110387 | 11667384 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 1386162 | 61929106 |
| Aena SME SA<sup>(c)</sup> | &nbsp;&nbsp; 445029 | 84554907 |
| Almirall SA | &nbsp;&nbsp; 477143 | 4756568 |
| Amadeus IT Group SA | &nbsp;&nbsp; 2702601 | 177995525 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Atresmedia Corp. de Medios de <br> Comunicacion SA<br>| &nbsp;&nbsp; 768743 | $3886715 |
| Audax Renovables SA<sup>(a)</sup> | &nbsp;&nbsp; 761950 | 1506118 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 35176543 | 368692791 |
| Banco de Sabadell SA | &nbsp;&nbsp; 32669588 | 68940817 |
| Banco Santander SA | &nbsp;&nbsp; 96235458 | 464254032 |
| Bankinter SA | &nbsp;&nbsp; 3992460 | 34101387 |
| CaixaBank SA | &nbsp;&nbsp; 22594558 | 131776846 |
| Cellnex Telecom SA<sup>(c)</sup> | &nbsp;&nbsp; 2961674 | 103293439 |
| Cia. de Distribucion Integral Logista Holdings SA | &nbsp;&nbsp; 357624 | 10590737 |
| Cie. Automotive SA | &nbsp;&nbsp; 366064 | 10692513 |
| Construcciones y Auxiliar de Ferrocarriles SA | &nbsp;&nbsp; 162893 | 6167037 |
| Distribuidora Internacional de Alimentacion SA<sup>(a)</sup> | &nbsp;&nbsp; 11690433 | 160680 |
| eDreams ODIGEO SA<sup>(a)</sup> | &nbsp;&nbsp; 278260 | 2035753 |
| Enagas SA | &nbsp;&nbsp; 1425683 | 21373773 |
| Ence Energia y Celulosa SA<sup>(a)</sup> | &nbsp;&nbsp; 1030721 | 3621235 |
| Endesa SA | &nbsp;&nbsp; 1915180 | 37162533 |
| Faes Farma SA | &nbsp;&nbsp; 2351896 | 9003898 |
| Ferrovial SE | &nbsp;&nbsp; 3129052 | 124429124 |
| Fluidra SA | &nbsp;&nbsp; 562841 | 12539375 |
| Gestamp Automocion SA<sup>(c)</sup> | &nbsp;&nbsp; 1198881 | 3477109 |
| Global Dominion Access SA<sup>(c)</sup> | &nbsp;&nbsp; 419360 | 1369732 |
| Grenergy Renovables SA<sup>(a)</sup> | &nbsp;&nbsp; 86181 | 3264428 |
| Grifols SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 1793784 | 18118195 |
| Iberdrola SA | &nbsp;&nbsp; 35941057 | 474716435 |
| Indra Sistemas SA | &nbsp;&nbsp; 901469 | 18077949 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 6554585 | 318479826 |
| Inmobiliaria Colonial SOCIMI SA | &nbsp;&nbsp; 1699839 | 9888416 |
| Laboratorios Farmaceuticos Rovi SA | &nbsp;&nbsp; 125495 | 12074400 |
| Lar Espana Real Estate SOCIMI SA | &nbsp;&nbsp; 723072 | 6369913 |
| Linea Directa Aseguradora SA Cia de Seguros <br> y Reaseguros<br>| &nbsp;&nbsp; 3738273 | 4474595 |
| Mapfre SA | &nbsp;&nbsp; 5380622 | 13039568 |
| Melia Hotels International SA | &nbsp;&nbsp; 746046 | 5712345 |
| Merlin Properties SOCIMI SA | &nbsp;&nbsp; 2292482 | 26179848 |
| Neinor Homes SA<sup>(c)</sup> | &nbsp;&nbsp; 314163 | 4420037 |
| Pharma Mar SA | &nbsp;&nbsp; 90649 | 3812096 |
| Prosegur Cash SA<sup>(c)</sup> | &nbsp;&nbsp; 207254 | 119777 |
| Prosegur Cia. de Seguridad SA | &nbsp;&nbsp; 1195343 | 2219920 |
| Redeia Corp. SA | &nbsp;&nbsp; 1672728 | 29699076 |
| Repsol SA | &nbsp;&nbsp; 7360629 | 104984060 |
| Sacyr SA | &nbsp;&nbsp; 3232456 | 11420209 |
| Solaria Energia y Medio Ambiente SA<sup>(a)</sup> | &nbsp;&nbsp; 511359 | 6106552 |
| Tecnicas Reunidas SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 351109 | 4380417 |
| Telefonica SA | &nbsp;&nbsp; 28475110 | 128970567 |
| Unicaja Banco SA<sup>(c)</sup> | &nbsp;&nbsp; 9229066 | 12422479 |
| Vidrala SA | &nbsp;&nbsp; 120029 | 12491707 |
| Viscofan SA | &nbsp;&nbsp; 231359 | 15426523 |
|  |  | 3025463726 |
| **Sweden — 3.5%** | **Sweden — 3.5%** | **Sweden — 3.5%** |
| AAK AB | &nbsp;&nbsp; 1105263 | 31806216 |
| AcadeMedia AB<sup>(c)</sup> | &nbsp;&nbsp; 196308 | 1010026 |
| AddLife AB, Class B | &nbsp;&nbsp; 674591 | 9890743 |
| Addnode Group AB, Class B | &nbsp;&nbsp; 582617 | 5790068 |
| AddTech AB, Class B | &nbsp;&nbsp; 1566576 | 50551630 |
| AFRY AB | &nbsp;&nbsp; 621014 | 11256430 |
| Alfa Laval AB | &nbsp;&nbsp; 1752221 | 77476273 |
| Alleima AB, NVS | &nbsp;&nbsp; 1212410 | 8810524 |
| AQ Group AB | &nbsp;&nbsp; 133351 | 1776184 |
| Arjo AB, Class B | &nbsp;&nbsp; 1454174 | 5635867 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 6151909 | 187352069 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 16376470 | 291462791 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 9254712 | $144798404 |
| Atrium Ljungberg AB, Class B | &nbsp;&nbsp; 327570 | 7006528 |
| Attendo AB<sup>(c)</sup> | &nbsp;&nbsp; 801921 | 3504454 |
| Avanza Bank Holding AB<sup>(b)</sup> | &nbsp;&nbsp; 752311 | 16899785 |
| Axfood AB | &nbsp;&nbsp; 655066 | 16246361 |
| Beijer Ref AB, Class B | &nbsp;&nbsp; 2299908 | 36521689 |
| Betsson AB | &nbsp;&nbsp; 738024 | 8784620 |
| Better Collective A/S<sup>(a)(b)</sup> | &nbsp;&nbsp; 220824 | 5062217 |
| Bilia AB, Class A | &nbsp;&nbsp; 512348 | 6377004 |
| Billerud Aktiebolag | &nbsp;&nbsp; 1331370 | 13406356 |
| BioArctic AB, Class B<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 211740 | 3172937 |
| BioGaia AB, Class B | &nbsp;&nbsp; 575021 | 6845999 |
| Biotage AB | &nbsp;&nbsp; 417319 | 7824829 |
| Boliden AB | &nbsp;&nbsp; 1664677 | 50910143 |
| BoneSupport Holding AB<sup>(a)(c)</sup> | &nbsp;&nbsp; 330756 | 9321020 |
| Boozt AB<sup>(a)(c)</sup> | &nbsp;&nbsp; 329804 | 3375277 |
| Bravida Holding AB<sup>(c)</sup> | &nbsp;&nbsp; 1445490 | 11700040 |
| Bufab AB | &nbsp;&nbsp; 143319 | 5975877 |
| Bure Equity AB | &nbsp;&nbsp; 309407 | 11591744 |
| Calliditas Therapeutics AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 241295 | 4646008 |
| Camurus AB<sup>(a)</sup> | &nbsp;&nbsp; 186797 | 11821590 |
| Castellum AB<sup>(a)</sup> | &nbsp;&nbsp; 2375391 | 29755829 |
| Catena AB | &nbsp;&nbsp; 201062 | 10235700 |
| Cibus Nordic Real Estate AB publ | &nbsp;&nbsp; 266713 | 4165925 |
| Clas Ohlson AB, Class B | &nbsp;&nbsp; 196029 | 3114076 |
| Cloetta AB, Class B | &nbsp;&nbsp; 1502207 | 3223464 |
| Coor Service Management Holding AB<sup>(c)</sup> | &nbsp;&nbsp; 457157 | 1843704 |
| Corem Property Group AB, Class B | &nbsp;&nbsp; 3362355 | 3002616 |
| Creades AB, Class A | &nbsp;&nbsp; 248262 | 1801581 |
| Dios Fastigheter AB | &nbsp;&nbsp; 381844 | 3064944 |
| Dometic Group AB<sup>(c)</sup> | &nbsp;&nbsp; 1876249 | 12872983 |
| Electrolux AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 1351441 | 12037834 |
| Electrolux Professional AB, Class B | &nbsp;&nbsp; 1724535 | 10855396 |
| Elekta AB, Class B | &nbsp;&nbsp; 2228244 | 13989155 |
| Embracer Group AB, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 4577916 | 11713518 |
| Engcon AB<sup>(b)</sup> | &nbsp;&nbsp; 232753 | 2273369 |
| Epiroc AB | &nbsp;&nbsp; 4102162 | 76568379 |
| Epiroc AB, Class B | &nbsp;&nbsp; 2210476 | 37167859 |
| EQT AB | &nbsp;&nbsp; 2263853 | 73303292 |
| Essity AB, Class B | &nbsp;&nbsp; 3710073 | 104313585 |
| Evolution AB<sup>(c)</sup> | &nbsp;&nbsp; 1117164 | 108218831 |
| Fabege AB | &nbsp;&nbsp; 1502808 | 12601989 |
| Fastighets AB Balder, Class B<sup>(a)</sup> | &nbsp;&nbsp; 4015156 | 29609104 |
| Fortnox AB | &nbsp;&nbsp; 2916525 | 18031549 |
| Getinge AB, Class B | &nbsp;&nbsp; 1382596 | 26999134 |
| Granges AB | &nbsp;&nbsp; 694660 | 8480332 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 3565868 | 55475789 |
| Hemnet Group AB | &nbsp;&nbsp; 533283 | 19709540 |
| Hexagon AB, Class B | &nbsp;&nbsp; 12566533 | 127983158 |
| Hexatronic Group AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 972886 | 5750978 |
| Hexpol AB | &nbsp;&nbsp; 1631060 | 18241703 |
| HMS Networks AB | &nbsp;&nbsp; 148894 | 5792549 |
| Holmen AB, Class B | &nbsp;&nbsp; 548526 | 21563666 |
| Hufvudstaden AB, Class A | &nbsp;&nbsp; 730732 | 8856212 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 2416169 | 16316739 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 790166 | 27105995 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 945079 | 32035457 |
| Indutrade AB | &nbsp;&nbsp; 1651373 | 48558713 |
| Instalco AB | &nbsp;&nbsp; 1236473 | 5889534 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 900331 | 26439517 |
| Investor AB, Class B | &nbsp;&nbsp; 10528146 | 298895301 |
| INVISIO AB | &nbsp;&nbsp; 222070 | 5190683 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Inwido AB | &nbsp;&nbsp; 472755 | $7802257 |
| JM AB | &nbsp;&nbsp; 371502 | 7242671 |
| Kindred Group PLC | &nbsp;&nbsp; 1367767 | 16156438 |
| Kinnevik AB | &nbsp;&nbsp; 1488600 | 12481201 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 456949 | 23100386 |
| Lifco AB, Class B | &nbsp;&nbsp; 1411073 | 41861598 |
| Lindab International AB | &nbsp;&nbsp; 490541 | 12136352 |
| Loomis AB, Class B | &nbsp;&nbsp; 452208 | 14409706 |
| Medicover AB, Class B | &nbsp;&nbsp; 378612 | 6831277 |
| MEKO AB | &nbsp;&nbsp; 295521 | 3101685 |
| Millicom International Cellular SA, SDR<sup>(a)</sup> | &nbsp;&nbsp; 867936 | 21606969 |
| MIPS AB | &nbsp;&nbsp; 159280 | 7930983 |
| Modern Times Group MTG AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 536960 | 4123295 |
| Munters Group AB<sup>(c)</sup> | &nbsp;&nbsp; 778694 | 16858717 |
| Mycronic AB | &nbsp;&nbsp; 474046 | 16622977 |
| NCAB Group AB<sup>(b)</sup> | &nbsp;&nbsp; 881383 | 6447774 |
| NCC AB, Class B | &nbsp;&nbsp; 532720 | 8225059 |
| New Wave Group AB, Class B | &nbsp;&nbsp; 538579 | 5703472 |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 9234257 | 40577583 |
| Nolato AB, Class B | &nbsp;&nbsp; 1348904 | 7243726 |
| Nordnet AB publ | &nbsp;&nbsp; 795808 | 16258319 |
| Norion Bank AB<sup>(a)</sup> | &nbsp;&nbsp; 133157 | 504592 |
| NP3 Fastigheter AB | &nbsp;&nbsp; 156009 | 3729345 |
| Nyfosa AB | &nbsp;&nbsp; 1114634 | 11407637 |
| OX2 AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 942991 | 5223248 |
| Pandox AB, Class B | &nbsp;&nbsp; 544406 | 10099423 |
| Paradox Interactive AB | &nbsp;&nbsp; 204101 | 2925476 |
| Peab AB, Class B | &nbsp;&nbsp; 1140697 | 8507698 |
| Platzer Fastigheter Holding AB, Class B | &nbsp;&nbsp; 350602 | 3207041 |
| Ratos AB, Class B | &nbsp;&nbsp; 1355708 | 4362088 |
| Rvrc Holding AB<sup>(b)</sup> | &nbsp;&nbsp; 237252 | 979560 |
| Saab AB | &nbsp;&nbsp; 1939855 | 44793224 |
| Sagax AB, Class B | &nbsp;&nbsp; 1309391 | 32347698 |
| Samhallsbyggnadsbolaget i Norden AB | &nbsp;&nbsp; 6507726 | 4125430 |
| Sandvik AB | &nbsp;&nbsp; 6451922 | 132082592 |
| Scandic Hotels Group AB<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 852105 | 5186051 |
| Sdiptech AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 163378 | 5002995 |
| Sectra AB, Class B | &nbsp;&nbsp; 815269 | 18563016 |
| Securitas AB, Class B | &nbsp;&nbsp; 2900986 | 31207654 |
| Sinch AB<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 4038430 | 10945876 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 9478588 | 145775828 |
| Skanska AB, Class B | &nbsp;&nbsp; 2075703 | 40583655 |
| SKF AB, Class B | &nbsp;&nbsp; 2061687 | 38328536 |
| SkiStar AB | &nbsp;&nbsp; 152171 | 2240889 |
| SSAB AB, Class A | &nbsp;&nbsp; 1296674 | 6689793 |
| SSAB AB, Class B | &nbsp;&nbsp; 3916784 | 19853027 |
| Stillfront Group AB<sup>(a)</sup> | &nbsp;&nbsp; 3085690 | 2579986 |
| Storskogen Group AB | &nbsp;&nbsp; 8019915 | 6512072 |
| Surgical Science Sweden AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 202150 | 2454925 |
| Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 3698149 | 50271452 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 8760641 | 88428720 |
| Svolder AB | &nbsp;&nbsp; 539939 | 3209361 |
| Sweco AB, Class B | &nbsp;&nbsp; 1268116 | 20494653 |
| Swedbank AB, Class A | &nbsp;&nbsp; 5097265 | 108387938 |
| SwedenCare AB | &nbsp;&nbsp; 529098 | 2288901 |
| Swedish Orphan Biovitrum AB<sup>(a)</sup> | &nbsp;&nbsp; 1184791 | 30955115 |
| Synsam AB | &nbsp;&nbsp; 428270 | 2013631 |
| Tele2 AB, Class B | &nbsp;&nbsp; 3265064 | 33615993 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 17106385 | 117621083 |
| Telia Co. AB | &nbsp;&nbsp; 14404024 | 41863460 |
| Thule Group AB<sup>(c)</sup> | &nbsp;&nbsp; 651634 | 18015949 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 1368940 | 50873329 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Troax Group AB | &nbsp;&nbsp; 137431 | $3121724 |
| Truecaller AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 1394125 | 4415511 |
| Vimian Group AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 996617 | 3145487 |
| Vitec Software Group AB, Class B | &nbsp;&nbsp; 180884 | 9462534 |
| Vitrolife AB | &nbsp;&nbsp; 452767 | 9737321 |
| Volvo AB, Class A | &nbsp;&nbsp; 1160191 | 30160903 |
| Volvo AB, Class B | &nbsp;&nbsp; 9603481 | 245088052 |
| Volvo Car AB<sup>(a)</sup> | &nbsp;&nbsp; 4486091 | 12728558 |
| Wallenstam AB, Class B | &nbsp;&nbsp; 2350556 | 11856624 |
| Wihlborgs Fastigheter AB | &nbsp;&nbsp; 1770957 | 17938084 |
| Xvivo Perfusion AB<sup>(a)</sup> | &nbsp;&nbsp; 145163 | 6880787 |
| Yubico AB<sup>(a)</sup> | &nbsp;&nbsp; 246199 | 6223314 |
|  |  | 4237401669 |
| **Switzerland — 9.1%** | **Switzerland — 9.1%** | **Switzerland — 9.1%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 9691937 | 537966568 |
| Accelleron Industries AG, NVS | &nbsp;&nbsp; 573905 | 28399481 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 995157 | 33873466 |
| Alcon Inc. | &nbsp;&nbsp; 3016075 | 285575650 |
| Allreal Holding AG, Registered | &nbsp;&nbsp; 83505 | 14886968 |
| ALSO Holding AG, Registered | &nbsp;&nbsp; 35745 | 10837560 |
| ams-OSRAM AG<sup>(a)</sup> | &nbsp;&nbsp; 6040986 | 8110985 |
| Arbonia AG<sup>(a)</sup> | &nbsp;&nbsp; 377132 | 5456652 |
| Aryzta AG<sup>(a)</sup> | &nbsp;&nbsp; 6026029 | 11536322 |
| Autoneum Holding AG<sup>(b)</sup> | &nbsp;&nbsp; 23212 | 3646121 |
| Avolta AG, Registered | &nbsp;&nbsp; 616337 | 23255274 |
| Bachem Holding AG | &nbsp;&nbsp; 205185 | 18413655 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 272033 | 48683371 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 178772 | 18976185 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 21525 | 34633978 |
| Basilea Pharmaceutica AG, Registered<sup>(a)</sup> | &nbsp;&nbsp; 96928 | 4389505 |
| Belimo Holding AG, Registered | &nbsp;&nbsp; 61103 | 37041866 |
| Bell Food Group AG, Registered | &nbsp;&nbsp; 12719 | 3600879 |
| BKW AG | &nbsp;&nbsp; 139422 | 25220245 |
| Bossard Holding AG, Class A, Registered | &nbsp;&nbsp; 42353 | 10794938 |
| Bucher Industries AG, Registered | &nbsp;&nbsp; 45729 | 18526145 |
| Burckhardt Compression Holding AG | &nbsp;&nbsp; 22738 | 15842718 |
| Burkhalter Holding AG | &nbsp;&nbsp; 41121 | 4150750 |
| Bystronic AG, Registered | &nbsp;&nbsp; 8367 | 3009793 |
| Cembra Money Bank AG | &nbsp;&nbsp; 181141 | 15817602 |
| Chocoladefabriken Lindt & Spruengli AG, <br> Participation Certificates, NVS<br>| &nbsp;&nbsp; 6358 | 79688634 |
| Chocoladefabriken Lindt & Spruengli <br> AG, Registered<br>| &nbsp;&nbsp; 582 | 72068114 |
| Cie. Financiere Richemont SA, <br> Class A, Registered<br>| &nbsp;&nbsp; 3252457 | 496101529 |
| Clariant AG, Registered | &nbsp;&nbsp; 1272761 | 18879568 |
| Comet Holding AG, Registered | &nbsp;&nbsp; 50059 | 20057668 |
| COSMO Pharmaceuticals NV | &nbsp;&nbsp; 64276 | 5462819 |
| Daetwyler Holding AG, Bearer | &nbsp;&nbsp; 50649 | 10536608 |
| DKSH Holding AG | &nbsp;&nbsp; 210362 | 16488642 |
| DocMorris AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 70491 | 3570953 |
| dormakaba Holding AG | &nbsp;&nbsp; 20105 | 12176793 |
| Dottikon Es Holding AG<sup>(a)</sup> | &nbsp;&nbsp; 15492 | 4457591 |
| EFG International AG | &nbsp;&nbsp; 679674 | 9714883 |
| Emmi AG, Registered | &nbsp;&nbsp; 13921 | 14638659 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 42429 | 35480656 |
| Flughafen Zurich AG, Registered | &nbsp;&nbsp; 118683 | 27467237 |
| Forbo Holding AG, Registered | &nbsp;&nbsp; 6542 | 7046788 |
| Galenica AG<sup>(c)</sup> | &nbsp;&nbsp; 307968 | 26786501 |
| Geberit AG, Registered | &nbsp;&nbsp; 204626 | 130278440 |
| Georg Fischer AG | &nbsp;&nbsp; 483912 | 35555909 |
| Givaudan SA, Registered | &nbsp;&nbsp; 55932 | 274405441 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 216255 | $32260720 |
| Holcim AG | &nbsp;&nbsp; 3153132 | 294661462 |
| Huber + Suhner AG, Registered | &nbsp;&nbsp; 124119 | 10868424 |
| Implenia AG, Registered | &nbsp;&nbsp; 109413 | 3965115 |
| Inficon Holding AG, Registered | &nbsp;&nbsp; 9975 | 14873426 |
| Interroll Holding AG, Registered | &nbsp;&nbsp; 3682 | 11897303 |
| Intershop Holding AG | &nbsp;&nbsp; 48741 | 6504078 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 1230660 | 67351095 |
| Kardex Holding AG, Registered | &nbsp;&nbsp; 32864 | 10008406 |
| Komax Holding AG, Registered<sup>(b)</sup> | &nbsp;&nbsp; 29291 | 4451736 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 298889 | 92652780 |
| Landis+Gyr Group AG | &nbsp;&nbsp; 150626 | 13643867 |
| LEM Holding SA, Registered | &nbsp;&nbsp; 2235 | 3264206 |
| Leonteq AG | &nbsp;&nbsp; 31474 | 952019 |
| Logitech International SA, Registered | &nbsp;&nbsp; 964096 | 86842031 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 450804 | 300194514 |
| Medacta Group SA<sup>(c)</sup> | &nbsp;&nbsp; 31034 | 4454895 |
| Medmix AG<sup>(c)</sup> | &nbsp;&nbsp; 135569 | 1871941 |
| Mobilezone Holding AG, Registered | &nbsp;&nbsp; 506427 | 8258389 |
| Mobimo Holding AG, Registered | &nbsp;&nbsp; 50750 | 15200020 |
| Montana Aerospace AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 110536 | 2351901 |
| Nestle SA, Registered | &nbsp;&nbsp; 16123678 | 1633209144 |
| Novartis AG, Registered | &nbsp;&nbsp; 11923668 | 1331013119 |
| OC Oerlikon Corp. AG, Registered | &nbsp;&nbsp; 1270549 | 7147025 |
| Orior AG | &nbsp;&nbsp; 36925 | 2336097 |
| Partners Group Holding AG | &nbsp;&nbsp; 136733 | 184048460 |
| PolyPeptide Group AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 82499 | 2756343 |
| PSP Swiss Property AG, Registered | &nbsp;&nbsp; 275969 | 36878002 |
| Rieter Holding AG, Registered | &nbsp;&nbsp; 25034 | 2963908 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 184310 | 64824012 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 4258285 | 1378659727 |
| Sandoz Group AG | &nbsp;&nbsp; 2477942 | 107476403 |
| Schindler Holding AG, Participation <br> Certificates, NVS<br>| &nbsp;&nbsp; 244316 | 65392144 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 141058 | 37033287 |
| Schweiter Technologies AG, NVS | &nbsp;&nbsp; 6850 | 3215266 |
| Sensirion Holding AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 45078 | 4228857 |
| SFS Group AG | &nbsp;&nbsp; 126655 | 18496334 |
| SGS SA | &nbsp;&nbsp; 901936 | 98611620 |
| Siegfried Holding AG, Registered | &nbsp;&nbsp; 25963 | 30261250 |
| SIG Group AG | &nbsp;&nbsp; 1853721 | 38928295 |
| Sika AG, Registered | &nbsp;&nbsp; 923096 | 280266826 |
| SKAN Group AG | &nbsp;&nbsp; 58789 | 5311271 |
| Softwareone Holding AG | &nbsp;&nbsp; 663265 | 13242385 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 307929 | 94391311 |
| Stadler Rail AG<sup>(b)</sup> | &nbsp;&nbsp; 346390 | 10601364 |
| Straumann Holding AG | &nbsp;&nbsp; 675896 | 87157945 |
| Sulzer AG, Registered | &nbsp;&nbsp; 134142 | 19942593 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 179042 | 36874582 |
| Swatch Group AG (The), Registered | &nbsp;&nbsp; 306771 | 12438809 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 176739 | 135331512 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 456843 | 45784947 |
| Swiss Re AG | &nbsp;&nbsp; 1815122 | 223774303 |
| Swisscom AG, Registered | &nbsp;&nbsp; 153714 | 94079430 |
| Swissquote Group Holding SA, Registered | &nbsp;&nbsp; 82771 | 26399590 |
| Tecan Group AG, Registered | &nbsp;&nbsp; 78241 | 29216456 |
| Temenos AG, Registered | &nbsp;&nbsp; 385112 | 26741595 |
| TX Group AG | &nbsp;&nbsp; 5358 | 986446 |
| u-blox Holding AG | &nbsp;&nbsp; 52836 | 4833724 |
| UBS Group AG, Registered | &nbsp;&nbsp; 19873497 | 602180318 |
| Valiant Holding AG, Registered | &nbsp;&nbsp; 111199 | 12630635 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 164442 | 82407788 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Vetropack Holding AG, Class A, Registered | &nbsp;&nbsp; 48608 | $1846855 |
| Vontobel Holding AG, Registered | &nbsp;&nbsp; 192851 | 12636058 |
| Ypsomed Holding AG, Registered | &nbsp;&nbsp; 36376 | 16716995 |
| Zehnder Group AG, Registered | &nbsp;&nbsp; 95275 | 6000822 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 876878 | 482081326 |
|  |  | 10921393617 |
| **United Kingdom — 15.1%** | **United Kingdom — 15.1%** | **United Kingdom — 15.1%** |
| 3i Group PLC | &nbsp;&nbsp; 5900141 | 237366869 |
| 4imprint Group PLC | &nbsp;&nbsp; 163030 | 12730126 |
| abrdn PLC | &nbsp;&nbsp; 11482309 | 25111662 |
| Admiral Group PLC | &nbsp;&nbsp; 1573826 | 55775764 |
| Advanced Medical Solutions Group PLC | &nbsp;&nbsp; 2070753 | 6548661 |
| AG Barr PLC | &nbsp;&nbsp; 664125 | 5502025 |
| Airtel Africa PLC<sup>(c)</sup> | &nbsp;&nbsp; 5436046 | 7969958 |
| AJ Bell PLC | &nbsp;&nbsp; 1590759 | 9386553 |
| Alpha Financial Markets Consulting PLC | &nbsp;&nbsp; 673560 | 4312158 |
| Alpha Group International PLC | &nbsp;&nbsp; 181553 | 6044944 |
| Alphawave IP Group PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 1886191 | 3772149 |
| Anglo American PLC | &nbsp;&nbsp; 7693443 | 233236869 |
| Antofagasta PLC | &nbsp;&nbsp; 2366279 | 61615988 |
| AO World PLC<sup>(a)</sup> | &nbsp;&nbsp; 2236973 | 3370369 |
| Ascential PLC | &nbsp;&nbsp; 1316374 | 9662833 |
| Ashmore Group PLC | &nbsp;&nbsp; 2501675 | 5551513 |
| Ashtead Group PLC | &nbsp;&nbsp; 2646458 | 190987994 |
| Ashtead Technology Holdings PLC | &nbsp;&nbsp; 436495 | 4876274 |
| ASOS PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 424802 | 1976898 |
| Associated British Foods PLC | &nbsp;&nbsp; 2070716 | 66108143 |
| Assura PLC | &nbsp;&nbsp; 16655962 | 8740817 |
| Aston Martin Lagonda Global <br> Holdings PLC<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 2290710 | 4592381 |
| AstraZeneca PLC | &nbsp;&nbsp; 9377387 | 1489792730 |
| Atalaya Mining PLC | &nbsp;&nbsp; 615579 | 3007159 |
| Auction Technology Group PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 539306 | 3521914 |
| Auto Trader Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 5556119 | 58199571 |
| Aviva PLC | &nbsp;&nbsp; 16014059 | 103160599 |
| B&M European Value Retail SA | &nbsp;&nbsp; 6053027 | 36451178 |
| Babcock International Group PLC | &nbsp;&nbsp; 1497794 | 10245472 |
| BAE Systems PLC | &nbsp;&nbsp; 18271849 | 304739810 |
| Balanced Commercial Property Trust Ltd. | &nbsp;&nbsp; 3434374 | 3823442 |
| Balfour Beatty PLC | &nbsp;&nbsp; 3558621 | 19269000 |
| Bank of Georgia Group PLC | &nbsp;&nbsp; 212741 | 12506877 |
| Barclays PLC | &nbsp;&nbsp; 90727316 | 271302407 |
| Barratt Developments PLC | &nbsp;&nbsp; 6075419 | 41111699 |
| Beazley PLC | &nbsp;&nbsp; 4003876 | 35192084 |
| Bellway PLC | &nbsp;&nbsp; 710261 | 26079293 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 660763 | 43136180 |
| Big Yellow Group PLC | &nbsp;&nbsp; 1093749 | 17009338 |
| Bodycote PLC | &nbsp;&nbsp; 1125836 | 10070230 |
| boohoo Group PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 5867793 | 2436500 |
| BP PLC | &nbsp;&nbsp; 102369010 | 605114543 |
| Breedon Group PLC | &nbsp;&nbsp; 1658583 | 9226288 |
| Bridgepoint Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 992097 | 3739805 |
| British American Tobacco PLC | &nbsp;&nbsp; 12081393 | 428660265 |
| British Land Co. PLC (The) | &nbsp;&nbsp; 5342461 | 28316636 |
| Britvic PLC | &nbsp;&nbsp; 1466892 | 23954842 |
| BT Group PLC | &nbsp;&nbsp; 39655368 | 71915064 |
| Bunzl PLC | &nbsp;&nbsp; 2043453 | 85619359 |
| Burberry Group PLC | &nbsp;&nbsp; 2240692 | 22424436 |
| Burford Capital Ltd. | &nbsp;&nbsp; 1175043 | 16571028 |
| Bytes Technology Group PLC | &nbsp;&nbsp; 1170278 | 7624568 |
| C&C Group PLC | &nbsp;&nbsp; 2398006 | 4932412 |
| Carnival PLC<sup>(a)</sup> | &nbsp;&nbsp; 840705 | 12917086 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Centamin PLC | &nbsp;&nbsp; 7436141 | $12145330 |
| Central Asia Metals PLC | &nbsp;&nbsp; 351020 | 892580 |
| Centrica PLC | &nbsp;&nbsp; 32810474 | 55941003 |
| Chemring Group PLC | &nbsp;&nbsp; 1548864 | 8243330 |
| Clarkson PLC | &nbsp;&nbsp; 158799 | 9257935 |
| Close Brothers Group PLC | &nbsp;&nbsp; 835635 | 5497792 |
| CLS Holdings PLC | &nbsp;&nbsp; 982991 | 1158457 |
| CMC Markets PLC<sup>(c)</sup> | &nbsp;&nbsp; 496352 | 2128015 |
| Coats Group PLC | &nbsp;&nbsp; 9617144 | 11065173 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 1293419 | 47196747 |
| Compass Group PLC | &nbsp;&nbsp; 10269107 | 316237226 |
| Computacenter PLC | &nbsp;&nbsp; 539665 | 18686466 |
| ConvaTec Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 9875491 | 29754633 |
| Craneware PLC | &nbsp;&nbsp; 148054 | 4377610 |
| Cranswick PLC | &nbsp;&nbsp; 319436 | 19567522 |
| Crest Nicholson Holdings PLC | &nbsp;&nbsp; 1890920 | 6445984 |
| Croda International PLC | &nbsp;&nbsp; 827498 | 43025062 |
| Currys PLC<sup>(a)</sup> | &nbsp;&nbsp; 5775916 | 6040425 |
| Custodian Property Income REIT PLC | &nbsp;&nbsp; 2343863 | 2320128 |
| CVS Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 477787 | 7002099 |
| Darktrace PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 2557849 | 19452798 |
| DCC PLC | &nbsp;&nbsp; 610125 | 42034533 |
| Deliveroo PLC, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 5991542 | 10159503 |
| Derwent London PLC | &nbsp;&nbsp; 577140 | 17049838 |
| Diageo PLC | &nbsp;&nbsp; 13436432 | 418074152 |
| Diploma PLC | &nbsp;&nbsp; 823387 | 47077329 |
| Direct Line Insurance Group PLC | &nbsp;&nbsp; 7835934 | 19010312 |
| DiscoverIE Group PLC | &nbsp;&nbsp; 544394 | 4738269 |
| Diversified Energy Co. PLC | &nbsp;&nbsp; 290613 | 4801128 |
| Domino's Pizza Group PLC | &nbsp;&nbsp; 2478213 | 10304733 |
| Dowlais Group PLC | &nbsp;&nbsp; 7998902 | 6589577 |
| Dr. Martens PLC | &nbsp;&nbsp; 3767875 | 3444857 |
| Drax Group PLC | &nbsp;&nbsp; 2502496 | 20932430 |
| DS Smith PLC | &nbsp;&nbsp; 8378226 | 48979530 |
| Dunelm Group PLC | &nbsp;&nbsp; 669327 | 10616192 |
| easyJet PLC | &nbsp;&nbsp; 1814101 | 10509543 |
| Elementis PLC | &nbsp;&nbsp; 3811489 | 7829978 |
| Empiric Student Property PLC | &nbsp;&nbsp; 2367454 | 2933602 |
| Endeavour Mining PLC | &nbsp;&nbsp; 1083750 | 24208287 |
| Energean PLC | &nbsp;&nbsp; 932735 | 11978787 |
| Entain PLC | &nbsp;&nbsp; 3850305 | 28294416 |
| Essentra PLC | &nbsp;&nbsp; 1796993 | 3950314 |
| Evoke PLC<sup>(a)</sup> | &nbsp;&nbsp; 2195274 | 1666471 |
| Experian PLC | &nbsp;&nbsp; 5565471 | 262578973 |
| FD Technologies PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 107895 | 2116630 |
| Fevertree Drinks PLC | &nbsp;&nbsp; 593879 | 7042931 |
| Firstgroup PLC | &nbsp;&nbsp; 4132630 | 9318482 |
| Flutter Entertainment PLC<sup>(a)</sup> | &nbsp;&nbsp; 1077103 | 213057163 |
| Forterra PLC<sup>(c)</sup> | &nbsp;&nbsp; 802211 | 1805837 |
| Frasers Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 1166757 | 13466479 |
| Future PLC | &nbsp;&nbsp; 679833 | 9784421 |
| Games Workshop Group PLC | &nbsp;&nbsp; 201011 | 26660893 |
| Gamma Communications PLC | &nbsp;&nbsp; 520343 | 9940257 |
| GB Group PLC | &nbsp;&nbsp; 1453336 | 6505548 |
| Genuit Group PLC | &nbsp;&nbsp; 1445014 | 9495756 |
| Genus PLC | &nbsp;&nbsp; 396324 | 9287701 |
| Glencore PLC | &nbsp;&nbsp; 62622405 | 347481544 |
| Grafton Group PLC | &nbsp;&nbsp; 1277415 | 17796035 |
| Grainger PLC | &nbsp;&nbsp; 4392866 | 13644615 |
| Great Portland Estates PLC | &nbsp;&nbsp; 2591486 | 11693791 |
| Greatland Gold PLC<sup>(a)</sup> | &nbsp;&nbsp; 25374986 | 2312816 |
| Greencore Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 3022658 | 7002174 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Greggs PLC | &nbsp;&nbsp; 630402 | $25387284 |
| GSK PLC | &nbsp;&nbsp; 25052582 | 486490632 |
| Haleon PLC | &nbsp;&nbsp; 41209592 | 184841584 |
| Halfords Group PLC | &nbsp;&nbsp; 1481145 | 2943718 |
| Halma PLC | &nbsp;&nbsp; 2308436 | 79014459 |
| Hammerson PLC | &nbsp;&nbsp; 23759494 | 8802788 |
| Harbour Energy PLC | &nbsp;&nbsp; 3732859 | 15013884 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 2140470 | 30407694 |
| Hays PLC | &nbsp;&nbsp; 8872681 | 10753051 |
| Helios Towers PLC<sup>(a)</sup> | &nbsp;&nbsp; 4173061 | 6765762 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 993034 | 24279536 |
| Hill & Smith PLC | &nbsp;&nbsp; 466672 | 13794824 |
| Hiscox Ltd. | &nbsp;&nbsp; 2051044 | 33495085 |
| Hochschild Mining PLC<sup>(a)</sup> | &nbsp;&nbsp; 1928420 | 4500489 |
| Hollywood Bowl Group PLC | &nbsp;&nbsp; 865204 | 3698275 |
| Home REIT PLC<sup>(a)(d)</sup> | &nbsp;&nbsp; 4179974 | 1329044 |
| Howden Joinery Group PLC | &nbsp;&nbsp; 3374206 | 40794788 |
| HSBC Holdings PLC | &nbsp;&nbsp; 114405582 | 1040416211 |
| Hunting PLC | &nbsp;&nbsp; 1070727 | 6287824 |
| Ibstock PLC<sup>(c)</sup> | &nbsp;&nbsp; 2632492 | 6213393 |
| IG Group Holdings PLC | &nbsp;&nbsp; 2333879 | 28185565 |
| IMI PLC | &nbsp;&nbsp; 1590830 | 38747713 |
| Impact Healthcare REIT PLC, Class B | &nbsp;&nbsp; 1862151 | 2094744 |
| Impax Asset Management Group PLC | &nbsp;&nbsp; 482505 | 2521456 |
| Imperial Brands PLC | &nbsp;&nbsp; 5065803 | 139622849 |
| Inchcape PLC | &nbsp;&nbsp; 2219362 | 24136545 |
| Indivior PLC, NVS<sup>(a)</sup> | &nbsp;&nbsp; 777193 | 10675656 |
| Informa PLC | &nbsp;&nbsp; 8386107 | 93716218 |
| IntegraFin Holdings PLC | &nbsp;&nbsp; 1760900 | 8715343 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 1000498 | 100795789 |
| Intermediate Capital Group PLC | &nbsp;&nbsp; 1739084 | 49088657 |
| International Distributions Services PLC<sup>(a)</sup> | &nbsp;&nbsp; 4307122 | 19110289 |
| International Workplace Group PLC | &nbsp;&nbsp; 4403354 | 9776765 |
| Intertek Group PLC | &nbsp;&nbsp; 979516 | 63607759 |
| Investec PLC | &nbsp;&nbsp; 3891335 | 30811705 |
| IP Group PLC | &nbsp;&nbsp; 5647117 | 3027275 |
| ITM Power PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 2658563 | 1787199 |
| ITV PLC | &nbsp;&nbsp; 21560785 | 22181656 |
| J D Wetherspoon PLC<sup>(a)</sup> | &nbsp;&nbsp; 566606 | 5437510 |
| J Sainsbury PLC | &nbsp;&nbsp; 9922149 | 35185894 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 15587516 | 26371655 |
| JET2 PLC | &nbsp;&nbsp; 998392 | 18328252 |
| John Wood Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 4083745 | 10709713 |
| Johnson Matthey PLC | &nbsp;&nbsp; 1069310 | 22530543 |
| Johnson Service Group PLC | &nbsp;&nbsp; 2446157 | 5119503 |
| JTC PLC<sup>(c)</sup> | &nbsp;&nbsp; 857676 | 11593412 |
| Judges Scientific PLC<sup>(b)</sup> | &nbsp;&nbsp; 32558 | 4143640 |
| Jupiter Fund Management PLC | &nbsp;&nbsp; 2792253 | 3157342 |
| Just Group PLC | &nbsp;&nbsp; 6150996 | 9545989 |
| Kainos Group PLC | &nbsp;&nbsp; 519229 | 7329095 |
| Keller Group PLC | &nbsp;&nbsp; 497121 | 9522203 |
| Keywords Studios PLC | &nbsp;&nbsp; 483969 | 14857336 |
| Kier Group PLC | &nbsp;&nbsp; 2391887 | 4978147 |
| Kingfisher PLC | &nbsp;&nbsp; 11105408 | 39481157 |
| Lancashire Holdings Ltd. | &nbsp;&nbsp; 1367341 | 11144361 |
| Land Securities Group PLC | &nbsp;&nbsp; 4259751 | 34833724 |
| Learning Technologies Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 3325298 | 3077883 |
| Legal & General Group PLC | &nbsp;&nbsp; 35535202 | 105988210 |
| Liontrust Asset Management PLC | &nbsp;&nbsp; 329018 | 2821764 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 381268878 | 291270294 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 2739284 | 333441163 |
| LondonMetric Property PLC | &nbsp;&nbsp; 12606983 | 32595047 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| M&G PLC | &nbsp;&nbsp; 12934128 | $35318513 |
| Man Group PLC/Jersey | &nbsp;&nbsp; 7486370 | 23569222 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 12375977 | 52270567 |
| Marlowe PLC<sup>(b)</sup> | &nbsp;&nbsp; 456765 | 2583655 |
| Marshalls PLC | &nbsp;&nbsp; 1447973 | 6477819 |
| Melrose Industries PLC | &nbsp;&nbsp; 7960680 | 60280729 |
| Mitchells & Butlers PLC<sup>(a)</sup> | &nbsp;&nbsp; 1426878 | 5715972 |
| Mitie Group PLC | &nbsp;&nbsp; 7126854 | 11104258 |
| Mobico Group PLC | &nbsp;&nbsp; 3051401 | 2210564 |
| Molten Ventures PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 916345 | 4404131 |
| Mondi PLC, NVS | &nbsp;&nbsp; 2672746 | 52256619 |
| MONY Group PLC | &nbsp;&nbsp; 3041614 | 9284970 |
| Moonpig Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 1826783 | 5132219 |
| Morgan Advanced Materials PLC | &nbsp;&nbsp; 2072881 | 9082448 |
| Morgan Sindall Group PLC | &nbsp;&nbsp; 214401 | 7919236 |
| National Grid PLC | &nbsp;&nbsp; 29048979 | 368578548 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 39514475 | 187475795 |
| NCC Group PLC | &nbsp;&nbsp; 1607873 | 3050435 |
| Network International Holdings PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 3010773 | 15172360 |
| Next 15 Group PLC | &nbsp;&nbsp; 462213 | 5068509 |
| Next PLC | &nbsp;&nbsp; 742658 | 86801645 |
| Ninety One PLC | &nbsp;&nbsp; 2385443 | 5312489 |
| NMC Health PLC, NVS<sup>(d)</sup> | &nbsp;&nbsp; 475795 | 6 |
| Ocado Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 3479941 | 18197248 |
| OSB Group PLC | &nbsp;&nbsp; 2388830 | 15805672 |
| Oxford Instruments PLC | &nbsp;&nbsp; 311955 | 10065949 |
| Oxford Nanopore Technologies PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 3144212 | 4882788 |
| Pagegroup PLC | &nbsp;&nbsp; 1954026 | 10765158 |
| Pan African Resources PLC | &nbsp;&nbsp; 9776234 | 3707513 |
| Paragon Banking Group PLC | &nbsp;&nbsp; 1667168 | 17227333 |
| Pearson PLC | &nbsp;&nbsp; 3772360 | 51183273 |
| Penno Group PLC | &nbsp;&nbsp; 1692821 | 13533874 |
| Persimmon PLC | &nbsp;&nbsp; 1951892 | 39803517 |
| Pets at Home Group PLC | &nbsp;&nbsp; 2907718 | 11468238 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 4387200 | 30899452 |
| Picton Property Income Ltd. | &nbsp;&nbsp; 1212155 | 1143637 |
| Playtech PLC<sup>(a)</sup> | &nbsp;&nbsp; 1409406 | 10237022 |
| Plus500 Ltd. | &nbsp;&nbsp; 576576 | 17388961 |
| Polar Capital Holdings PLC | &nbsp;&nbsp; 492578 | 3818859 |
| Premier Foods PLC | &nbsp;&nbsp; 3258288 | 7539648 |
| Primary Health Properties PLC | &nbsp;&nbsp; 7829172 | 9325867 |
| PRS REIT PLC (The) | &nbsp;&nbsp; 3103506 | 3271565 |
| Prudential PLC | &nbsp;&nbsp; 16520539 | 149087736 |
| PZ Cussons PLC | &nbsp;&nbsp; 1873591 | 2546993 |
| QinetiQ Group PLC | &nbsp;&nbsp; 3450718 | 21437112 |
| Quilter PLC<sup>(c)</sup> | &nbsp;&nbsp; 8488248 | 14589437 |
| Rank Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 1134991 | 1035952 |
| Rathbones Group PLC | &nbsp;&nbsp; 322587 | 7986036 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 4275740 | 230007655 |
| Redrow PLC | &nbsp;&nbsp; 1631922 | 15655865 |
| RELX PLC | &nbsp;&nbsp; 11367214 | 536503912 |
| Renewi PLC | &nbsp;&nbsp; 389238 | 3377519 |
| Renishaw PLC | &nbsp;&nbsp; 220466 | 10733088 |
| Rentokil Initial PLC | &nbsp;&nbsp; 15302206 | 93437651 |
| RHI Magnesita NV | &nbsp;&nbsp; 163268 | 7705376 |
| Rightmove PLC | &nbsp;&nbsp; 4885439 | 36298083 |
| Rio Tinto PLC | &nbsp;&nbsp; 6702281 | 435868743 |
| Rolls-Royce Holdings PLC<sup>(a)</sup> | &nbsp;&nbsp; 50981812 | 295194992 |
| Rotork PLC | &nbsp;&nbsp; 4996199 | 23252679 |
| RS Group PLC | &nbsp;&nbsp; 2824937 | 29678255 |
| RWS Holdings PLC | &nbsp;&nbsp; 1762275 | 4320721 |
| Safestore Holdings PLC | &nbsp;&nbsp; 1457267 | 15143035 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Sage Group PLC (The) | &nbsp;&nbsp; 6081219 | $85006651 |
| Savills PLC | &nbsp;&nbsp; 962450 | 15787666 |
| Schroders PLC | &nbsp;&nbsp; 5117683 | 25862077 |
| Segro PLC | &nbsp;&nbsp; 7769632 | 91453290 |
| Serco Group PLC | &nbsp;&nbsp; 6909183 | 16977552 |
| Serica Energy PLC | &nbsp;&nbsp; 1643239 | 2790946 |
| Severn Trent PLC | &nbsp;&nbsp; 1634547 | 54037570 |
| Shaftesbury Capital PLC | &nbsp;&nbsp; 9685238 | 18962661 |
| Shell PLC | &nbsp;&nbsp; 38689622 | 1410773755 |
| SIG PLC<sup>(a)</sup> | &nbsp;&nbsp; 3835731 | 1208101 |
| Sirius Real Estate Ltd. | &nbsp;&nbsp; 7656557 | 9334100 |
| Smith & Nephew PLC | &nbsp;&nbsp; 5287603 | 76209283 |
| Smiths Group PLC | &nbsp;&nbsp; 2094473 | 48108279 |
| Softcat PLC | &nbsp;&nbsp; 848451 | 17750375 |
| Spectris PLC | &nbsp;&nbsp; 602630 | 23639517 |
| Spirax Group PLC | &nbsp;&nbsp; 448860 | 52403062 |
| Spire Healthcare Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 1174418 | 3866913 |
| Spirent Communications PLC | &nbsp;&nbsp; 3729276 | 8329811 |
| SSE PLC | &nbsp;&nbsp; 6613832 | 160066634 |
| SSP Group PLC | &nbsp;&nbsp; 4751770 | 11174803 |
| St. James's Place PLC | &nbsp;&nbsp; 3296779 | 29040557 |
| Standard Chartered PLC | &nbsp;&nbsp; 13662248 | 134959585 |
| SThree PLC | &nbsp;&nbsp; 719332 | 3796694 |
| Supermarket Income REIT PLC | &nbsp;&nbsp; 6926783 | 6671467 |
| Target Healthcare REIT PLC | &nbsp;&nbsp; 3500600 | 3669897 |
| Tate & Lyle PLC | &nbsp;&nbsp; 2388959 | 20192660 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 21731158 | 44552677 |
| TBC Bank Group PLC | &nbsp;&nbsp; 238539 | 9506270 |
| Team17 Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 638741 | 2381288 |
| Telecom Plus PLC | &nbsp;&nbsp; 511949 | 12510802 |
| Tesco PLC | &nbsp;&nbsp; 42469632 | 181110464 |
| THG PLC, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 4955195 | 4240833 |
| TI Fluid Systems PLC<sup>(c)</sup> | &nbsp;&nbsp; 1737035 | 2941707 |
| TP ICAP Group PLC | &nbsp;&nbsp; 4755034 | 13539930 |
| Trainline PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 2701791 | 11830020 |
| Travis Perkins PLC | &nbsp;&nbsp; 1244073 | 15287088 |
| Tritax Big Box REIT PLC | &nbsp;&nbsp; 13505504 | 28706929 |
| Trustpilot Group PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 2003639 | 5370499 |
| Tullow Oil PLC<sup>(a)</sup> | &nbsp;&nbsp; 6917586 | 2723007 |
| Unilever PLC | &nbsp;&nbsp; 15149614 | 931014600 |
| UNITE Group PLC (The) | &nbsp;&nbsp; 2352584 | 28836177 |
| United Utilities Group PLC | &nbsp;&nbsp; 4129259 | 54876311 |
| Urban Logistics REIT PLC | &nbsp;&nbsp; 2645362 | 4228776 |
| Vesuvius PLC | &nbsp;&nbsp; 1320302 | 8191062 |
| Victrex PLC | &nbsp;&nbsp; 493045 | 6972176 |
| Virgin Money U.K. PLC | &nbsp;&nbsp; 7324270 | 20254743 |
| Vistry Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 1980101 | 35268248 |
| Vodafone Group PLC | &nbsp;&nbsp; 137543528 | 128706285 |
| Volex PLC | &nbsp;&nbsp; 696342 | 3175773 |
| Volution Group PLC | &nbsp;&nbsp; 1104499 | 7778450 |
| Warehouse REIT PLC | &nbsp;&nbsp; 1444292 | 1593237 |
| Watches of Switzerland Group PLC<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 1418945 | 7441199 |
| Weir Group PLC (The) | &nbsp;&nbsp; 1564245 | 40834304 |
| WH Smith PLC | &nbsp;&nbsp; 788512 | 13416488 |
| Whitbread PLC | &nbsp;&nbsp; 1162667 | 43565093 |
| Wickes Group PLC | &nbsp;&nbsp; 1315667 | 2553948 |
| Wise PLC, Class A<sup>(a)</sup> | &nbsp;&nbsp; 3727102 | 34317615 |
| Workspace Group PLC | &nbsp;&nbsp; 799831 | 6305681 |
| WPP PLC | &nbsp;&nbsp; 6389401 | 61632659 |
| Yellow Cake PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 1341228 | 9598562 |
| YouGov PLC | &nbsp;&nbsp; 586414 | 3482855 |
| Young & Co's Brewery PLC, Series A, Class A<sup>(b)</sup> | &nbsp;&nbsp; 181032 | 2322603 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Zigup PLC | &nbsp;&nbsp; 1598158 | $8723920 |
|  |  | 18162285558 |
| **Total Common Stocks — 99.1%** <br>**(Cost: $99,270,117,605)** | **Total Common Stocks — 99.1%** <br>**(Cost: $99,270,117,605)** | 119141509112 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.4%** | **Germany — 0.4%** | **Germany — 0.4%** |
| Bayerische Motoren Werke AG, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 392507 | 33650242 |
| Dr Ing hc F Porsche AG, Preference <br> Shares, NVS<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 691685 | 52084368 |
| Draegerwerk AG & Co. KGaA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 64001 | 3365770 |
| Einhell Germany AG, Preference Shares, NVS | &nbsp;&nbsp; 1029 | 198225 |
| Fuchs Petrolub SE, Preference Shares, NVS | &nbsp;&nbsp; 435117 | 18906327 |
| Henkel AG & Co. KGaA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 1076576 | 92092210 |
| Jungheinrich AG, Preference Shares, NVS | &nbsp;&nbsp; 304865 | 9650463 |
| Porsche Automobil Holding SE, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 954659 | 42672746 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 158959 | 45084249 |
| Schaeffler AG, Preference Shares, NVS<sup>(b)</sup> | &nbsp;&nbsp; 632518 | 3464297 |
| Sixt SE, Preference Shares, NVS<sup>(b)</sup> | &nbsp;&nbsp; 86040 | 4771077 |
| STO SE & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 9678 | 1295421 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 1254085 | 139959615 |
|  |  | 447195010 |
| **Italy — 0.0%** | **Italy — 0.0%** | **Italy — 0.0%** |
| Danieli & C Officine Meccaniche SpA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 166197 | 4791218 |
| **Total Preferred Stocks — 0.4%** <br>**(Cost: $566,866,940)** | **Total Preferred Stocks — 0.4%** <br>**(Cost: $566,866,940)** | 451986228 |
| **Warrants** | **Warrants** | **Warrants** |
| **Italy — 0.0%** | **Italy — 0.0%** | **Italy — 0.0%** |
| Webuild SpA (Issued/Exercisable 08/02/21, <br> 1 Share for 1 Warrant, Expires 08/31/30, Strike <br> Price EUR 0.001)<sup>(b)</sup><br>| &nbsp;&nbsp; 127842 | 1 |
| **Spain — 0.0%** | **Spain — 0.0%** | **Spain — 0.0%** |
| Abengoa SA (Issued 03/31/17, Exercisable <br> 06/30/17, 1 Share for 1 Warrant, Expires <br> 03/31/25, Strike Price EUR 0.001)<sup>(a)(b)(d)</sup><br>| &nbsp;&nbsp; 1476448 | 16 |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** | 17 |
| **Total Long-Term Investments — 99.5%** <br>**(Cost: $99,836,984,545)** | **Total Long-Term Investments — 99.5%** <br>**(Cost: $99,836,984,545)** | 119593495357 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 738346819 | 738642157 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 25070000 | $25070000 |
| **Total Short-Term Securities — 0.7%** <br>**(Cost: $763,353,333)** | **Total Short-Term Securities — 0.7%** <br>**(Cost: $763,353,333)** | 763712157 |
| **Total Investments — 100.2%** <br>**(Cost: $100,600,337,878)** | **Total Investments — 100.2%** <br>**(Cost: $100,600,337,878)** | 120357207514 |
| **Liabilities in Excess of Other Assets — (0.2)%** | **Liabilities in Excess of Other Assets — (0.2)%** | (197658065)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $120159549449 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $721911207<br> $16678231 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $54450 | $(1731)<br>| $738642157 | 738346819 | $13677062 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 8520000<br> 16550000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 25070000 | 25070000 | 3235047 | &nbsp;&nbsp; — |
|  |  |  | $54450 | $(1731)<br>| $763712157 |  | $16912109 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 791 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $146199 | &nbsp;&nbsp; $(470740)<br>|
| SPI 200 Index | &nbsp;&nbsp; 520 | &nbsp;&nbsp; 09/19/24 | &nbsp;&nbsp; 68714 | &nbsp;&nbsp; 3042242 |
| Euro STOXX 50 Index | &nbsp;&nbsp; 3573 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 189477 | &nbsp;&nbsp; (691252)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 1068 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 114850 | &nbsp;&nbsp; 2156934 |
|  |  |  |  | &nbsp;&nbsp; $4037184 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5199176 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5199176 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1161992 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1161992 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $76977190 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $76977190 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(10408434)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(10408434)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $658141121 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $2634751862 | &nbsp;&nbsp; $116503578811 | &nbsp;&nbsp; $3178439 | &nbsp;&nbsp; $119141509112 |
| Preferred Stocks | &nbsp;&nbsp; 198225 | &nbsp;&nbsp; 451788003 | &nbsp;&nbsp; — | &nbsp;&nbsp; 451986228 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 16 | &nbsp;&nbsp; 17 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 763712157 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 763712157 |
|  | &nbsp;&nbsp; $3398662244 | &nbsp;&nbsp; $116955366815 | &nbsp;&nbsp; $3178455 | &nbsp;&nbsp; $120357207514 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5199176 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5199176 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI EAFE ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1161992)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1161992)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4037184 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4037184 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® Core MSCI Europe ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Austria — 0.5%** | **Austria — 0.5%** | **Austria — 0.5%** |
| Andritz AG | &nbsp;&nbsp; 23852 | $1527966 |
| AT&S Austria Technologie & Systemtechnik AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 16164 | 344990 |
| BAWAG Group AG<sup>(c)</sup> | &nbsp;&nbsp; 26962 | 1969033 |
| CA Immobilien Anlagen AG | &nbsp;&nbsp; 15055 | 492057 |
| DO & CO AG | &nbsp;&nbsp; 3116 | 525063 |
| Erste Group Bank AG | &nbsp;&nbsp; 123551 | 6426661 |
| Immofinanz AG<sup>(a)</sup> | &nbsp;&nbsp; 16297 | 483520 |
| Lenzing AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 4760 | 165775 |
| Oesterreichische Post AG | &nbsp;&nbsp; 19123 | 631224 |
| OMV AG | &nbsp;&nbsp; 57158 | 2391496 |
| Raiffeisen Bank International AG | &nbsp;&nbsp; 47827 | 932403 |
| Schoeller-Bleckmann Oilfield Equipment AG<sup>(b)</sup> | &nbsp;&nbsp; 7243 | 287869 |
| UNIQA Insurance Group AG | &nbsp;&nbsp; 74202 | 635276 |
| Verbund AG | &nbsp;&nbsp; 28046 | 2251970 |
| Vienna Insurance Group AG Wiener <br> Versicherung Gruppe<br>| &nbsp;&nbsp; 18979 | 611292 |
| voestalpine AG | &nbsp;&nbsp; 47945 | 1229638 |
| Wienerberger AG | &nbsp;&nbsp; 48123 | 1706177 |
|  |  | 22612410 |
| **Belgium — 1.6%** | **Belgium — 1.6%** | **Belgium — 1.6%** |
| Ackermans & van Haaren NV | &nbsp;&nbsp; 8410 | 1613538 |
| Aedifica SA | &nbsp;&nbsp; 20517 | 1304114 |
| Ageas SA/NV | &nbsp;&nbsp; 55904 | 2668926 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 331271 | 19668938 |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 21953 | 11224266 |
| Barco NV | &nbsp;&nbsp; 37532 | 484805 |
| Bekaert SA | &nbsp;&nbsp; 18564 | 760134 |
| bpost SA | &nbsp;&nbsp; 65827 | 188077 |
| Cofinimmo SA | &nbsp;&nbsp; 17664 | 1135662 |
| Colruyt Group NV | &nbsp;&nbsp; 18822 | 902836 |
| Deme Group NV | &nbsp;&nbsp; 2838 | 511154 |
| D'ieteren Group | &nbsp;&nbsp; 9042 | 2078016 |
| Elia Group SA/NV | &nbsp;&nbsp; 11273 | 1170816 |
| Fagron | &nbsp;&nbsp; 34743 | 714901 |
| Galapagos NV<sup>(a)</sup> | &nbsp;&nbsp; 25829 | 690509 |
| Groupe Bruxelles Lambert NV<sup>(b)</sup> | &nbsp;&nbsp; 32567 | 2430446 |
| KBC Ancora | &nbsp;&nbsp; 17826 | 866857 |
| KBC Group NV | &nbsp;&nbsp; 89464 | 6919675 |
| Lotus Bakeries NV | &nbsp;&nbsp; 160 | 1738526 |
| Melexis NV | &nbsp;&nbsp; 9519 | 829840 |
| Montea NV | &nbsp;&nbsp; 6466 | 560833 |
| Proximus SADP | &nbsp;&nbsp; 66523 | 481103 |
| Shurgard Self Storage Ltd. | &nbsp;&nbsp; 12614 | 493164 |
| Sofina SA | &nbsp;&nbsp; 5777 | 1364973 |
| Solvay SA | &nbsp;&nbsp; 30252 | 1065007 |
| Syensqo SA | &nbsp;&nbsp; 26756 | 2365974 |
| UCB SA | &nbsp;&nbsp; 46172 | 7715077 |
| Umicore SA | &nbsp;&nbsp; 76724 | 1053734 |
| VGP NV | &nbsp;&nbsp; 5106 | 553217 |
| Warehouses De Pauw CVA | &nbsp;&nbsp; 66407 | 1798910 |
| Xior Student Housing NV | &nbsp;&nbsp; 7017 | 235963 |
|  |  | 75589991 |
| **Denmark — 5.6%** | **Denmark — 5.6%** | **Denmark — 5.6%** |
| ALK-Abello A/S<sup>(a)</sup> | &nbsp;&nbsp; 50446 | 1137047 |
| Alm Brand A/S | &nbsp;&nbsp; 297386 | 567341 |
| Ambu A/S, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 74494 | 1512701 |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 1151 | 1869725 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 1637 | 2708152 |
| Bavarian Nordic A/S<sup>(a)</sup> | &nbsp;&nbsp; 32462 | 874969 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 34714 | 4191957 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| Chemometec A/S | &nbsp;&nbsp; 7497 | $415621 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 48935 | 6361574 |
| D/S Norden A/S | &nbsp;&nbsp; 9172 | 396757 |
| Danske Bank A/S | &nbsp;&nbsp; 250132 | 7649658 |
| Demant A/S<sup>(a)</sup> | &nbsp;&nbsp; 36696 | 1406903 |
| DFDS A/S | &nbsp;&nbsp; 18186 | 498823 |
| DSV A/S | &nbsp;&nbsp; 64911 | 11907573 |
| FLSmidth & Co. A/S | &nbsp;&nbsp; 18408 | 939052 |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 24388 | 6888918 |
| GN Store Nord A/S<sup>(a)</sup> | &nbsp;&nbsp; 53224 | 1398579 |
| H Lundbeck A/S | &nbsp;&nbsp; 127071 | 795000 |
| ISS A/S | &nbsp;&nbsp; 60165 | 1099729 |
| Jyske Bank A/S, Registered | &nbsp;&nbsp; 20573 | 1677171 |
| Netcompany Group A/S<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 18968 | 807312 |
| NKT A/S<sup>(a)</sup> | &nbsp;&nbsp; 22446 | 2020541 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 1204053 | 159528456 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 134795 | 8580676 |
| Orsted A/S<sup>(a)(c)</sup> | &nbsp;&nbsp; 71475 | 4260196 |
| Pandora A/S | &nbsp;&nbsp; 30951 | 4851672 |
| Per Aarsleff Holding A/S | &nbsp;&nbsp; 9800 | 560678 |
| Ringkjoebing Landbobank A/S | &nbsp;&nbsp; 10301 | 1823215 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 3516 | 1554116 |
| Royal Unibrew A/S<sup>(a)</sup> | &nbsp;&nbsp; 19328 | 1517503 |
| Schouw & Co. A/S | &nbsp;&nbsp; 6953 | 573753 |
| Spar Nord Bank A/S | &nbsp;&nbsp; 34382 | 701190 |
| Sydbank A/S | &nbsp;&nbsp; 22213 | 1197553 |
| Topdanmark A/S | &nbsp;&nbsp; 16655 | 907216 |
| Tryg A/S | &nbsp;&nbsp; 121197 | 2653500 |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 373055 | 9232006 |
| Zealand Pharma A/S<sup>(a)</sup> | &nbsp;&nbsp; 25389 | 3420437 |
|  |  | 258487270 |
| **Finland — 1.6%** | **Finland — 1.6%** | **Finland — 1.6%** |
| Cargotec OYJ, Class B | &nbsp;&nbsp; 15865 | 808681 |
| Elisa OYJ | &nbsp;&nbsp; 52011 | 2421706 |
| Fortum OYJ | &nbsp;&nbsp; 160998 | 2475663 |
| Harvia OYJ | &nbsp;&nbsp; 3595 | 154706 |
| Huhtamaki OYJ | &nbsp;&nbsp; 38385 | 1555338 |
| Kalmar OYJ<sup>(a)</sup> | &nbsp;&nbsp; 15865 | 469082 |
| Kemira OYJ | &nbsp;&nbsp; 39902 | 902544 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 96191 | 1739970 |
| Kojamo OYJ<sup>(a)</sup> | &nbsp;&nbsp; 50761 | 502013 |
| Kone OYJ, Class B | &nbsp;&nbsp; 124987 | 6382408 |
| Konecranes OYJ | &nbsp;&nbsp; 24445 | 1707564 |
| Mandatum OYJ | &nbsp;&nbsp; 164948 | 763961 |
| Metsa Board OYJ, Class B | &nbsp;&nbsp; 88490 | 676153 |
| Metso OYJ | &nbsp;&nbsp; 251119 | 2551503 |
| Neste OYJ | &nbsp;&nbsp; 160643 | 3242230 |
| Nokia OYJ | &nbsp;&nbsp; 1969617 | 7740399 |
| Nokian Renkaat OYJ | &nbsp;&nbsp; 48211 | 439890 |
| Nordea Bank Abp | &nbsp;&nbsp; 1154475 | 13509361 |
| Orion OYJ, Class B | &nbsp;&nbsp; 45126 | 2074133 |
| Outokumpu OYJ | &nbsp;&nbsp; 137816 | 496896 |
| Puuilo OYJ | &nbsp;&nbsp; 8303 | 91193 |
| QT Group OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 7568 | 673474 |
| Revenio Group OYJ | &nbsp;&nbsp; 8828 | 274467 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 163661 | 7174095 |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 207274 | 2591156 |
| TietoEVRY OYJ | &nbsp;&nbsp; 45630 | 925303 |
| Tokmanni Group Corp. | &nbsp;&nbsp; 24901 | 304794 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 194324 | 6427463 |
| Valmet OYJ | &nbsp;&nbsp; 62483 | 1769559 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Europe ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Finland (continued)** | **Finland (continued)** | **Finland (continued)** |
| Wartsila OYJ Abp | &nbsp;&nbsp; 190049 | $3927331 |
|  |  | 74773036 |
| **France — 15.9%** | **France — 15.9%** | **France — 15.9%** |
| Accor SA | &nbsp;&nbsp; 71850 | 2765012 |
| Aeroports de Paris SA | &nbsp;&nbsp; 12736 | 1673336 |
| Air France-KLM, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 55238 | 491173 |
| Air Liquide SA | &nbsp;&nbsp; 213246 | 38908539 |
| Airbus SE | &nbsp;&nbsp; 220222 | 33325444 |
| Alstom SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 130505 | 2556932 |
| Alten SA | &nbsp;&nbsp; 11284 | 1241036 |
| Amundi SA<sup>(c)</sup> | &nbsp;&nbsp; 21263 | 1551788 |
| Aperam SA | &nbsp;&nbsp; 18623 | 506052 |
| ArcelorMittal SA | &nbsp;&nbsp; 183238 | 4172455 |
| Arkema SA | &nbsp;&nbsp; 22074 | 1992021 |
| AXA SA | &nbsp;&nbsp; 667176 | 23424417 |
| BioMerieux | &nbsp;&nbsp; 15094 | 1592816 |
| BNP Paribas SA | &nbsp;&nbsp; 380575 | 26074608 |
| Bollore SE | &nbsp;&nbsp; 257132 | 1600605 |
| Bouygues SA | &nbsp;&nbsp; 68999 | 2382259 |
| Bureau Veritas SA | &nbsp;&nbsp; 113138 | 3539998 |
| Capgemini SE | &nbsp;&nbsp; 58021 | 11518529 |
| Carrefour SA | &nbsp;&nbsp; 216165 | 3224583 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 168871 | 14486723 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 253731 | 10044916 |
| Coface SA | &nbsp;&nbsp; 56501 | 855400 |
| Covivio SA/France | &nbsp;&nbsp; 21043 | 1083235 |
| Credit Agricole SA | &nbsp;&nbsp; 378090 | 5737691 |
| Danone SA | &nbsp;&nbsp; 235846 | 15321746 |
| Dassault Aviation SA | &nbsp;&nbsp; 7955 | 1601612 |
| Dassault Systemes SE | &nbsp;&nbsp; 245109 | 9291779 |
| Edenred SE | &nbsp;&nbsp; 93336 | 3886396 |
| Eiffage SA | &nbsp;&nbsp; 26561 | 2643396 |
| Elis SA | &nbsp;&nbsp; 67536 | 1561793 |
| Engie SA | &nbsp;&nbsp; 673962 | 10594792 |
| Eramet SA | &nbsp;&nbsp; 2098 | 178202 |
| Esker SA | &nbsp;&nbsp; 3179 | 698077 |
| EssilorLuxottica SA | &nbsp;&nbsp; 108419 | 24810567 |
| Esso SA Francaise | &nbsp;&nbsp; 796 | 125230 |
| Eurazeo SE | &nbsp;&nbsp; 16648 | 1309785 |
| Eurofins Scientific SE | &nbsp;&nbsp; 51017 | 3020404 |
| Euronext NV<sup>(c)</sup> | &nbsp;&nbsp; 30747 | 3108612 |
| Eutelsat Communications SACA<sup>(a)(b)</sup> | &nbsp;&nbsp; 66115 | 341698 |
| Fnac Darty SA<sup>(b)</sup> | &nbsp;&nbsp; 8719 | 258784 |
| Forvia SE | &nbsp;&nbsp; 70687 | 827953 |
| Gaztransport Et Technigaz SA | &nbsp;&nbsp; 12692 | 1870103 |
| Gecina SA | &nbsp;&nbsp; 19069 | 1890457 |
| Getlink SE | &nbsp;&nbsp; 124511 | 2218767 |
| Hermes International SCA | &nbsp;&nbsp; 11737 | 25649273 |
| ICADE | &nbsp;&nbsp; 14948 | 332233 |
| ID Logistics Group SACA<sup>(a)</sup> | &nbsp;&nbsp; 516 | 249520 |
| Imerys SA | &nbsp;&nbsp; 14760 | 501499 |
| Interparfums SA | &nbsp;&nbsp; 12571 | 638829 |
| Ipsen SA | &nbsp;&nbsp; 13808 | 1550364 |
| IPSOS SA | &nbsp;&nbsp; 16656 | 1027961 |
| JCDecaux SE<sup>(a)</sup> | &nbsp;&nbsp; 27846 | 580520 |
| Kering SA | &nbsp;&nbsp; 27413 | 8419567 |
| Klepierre SA | &nbsp;&nbsp; 77486 | 2218778 |
| La Francaise des Jeux SAEM<sup>(c)</sup> | &nbsp;&nbsp; 40583 | 1574569 |
| Legrand SA | &nbsp;&nbsp; 98231 | 10613556 |
| L'Oreal SA | &nbsp;&nbsp; 88894 | 38441983 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 101731 | 71757202 |
| Mercialys SA | &nbsp;&nbsp; 41082 | 520548 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Mersen SA | &nbsp;&nbsp; 4763 | $165098 |
| Neoen SA<sup>(c)</sup> | &nbsp;&nbsp; 30939 | 1290094 |
| Nexans SA | &nbsp;&nbsp; 11900 | 1538029 |
| Nexity SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 20621 | 232415 |
| Orange SA | &nbsp;&nbsp; 675937 | 7501052 |
| Orpea SA, NVS<sup>(a)</sup> | &nbsp;&nbsp; 44744 | 501287 |
| Pernod Ricard SA | &nbsp;&nbsp; 74648 | 9988435 |
| Pluxee NV, NVS<sup>(a)</sup> | &nbsp;&nbsp; 35050 | 821567 |
| Publicis Groupe SA | &nbsp;&nbsp; 85765 | 8953560 |
| Quadient SA | &nbsp;&nbsp; 17817 | 353434 |
| Remy Cointreau SA | &nbsp;&nbsp; 9404 | 742029 |
| Renault SA | &nbsp;&nbsp; 69999 | 3392301 |
| Rexel SA | &nbsp;&nbsp; 81432 | 2068934 |
| Rubis SCA | &nbsp;&nbsp; 35155 | 1101034 |
| Safran SA | &nbsp;&nbsp; 126890 | 27876799 |
| Sanofi SA | &nbsp;&nbsp; 420480 | 43348323 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 11413 | 2277471 |
| Schneider Electric SE | &nbsp;&nbsp; 201617 | 48596787 |
| SCOR SE | &nbsp;&nbsp; 56156 | 1201866 |
| SEB SA | &nbsp;&nbsp; 9182 | 918823 |
| SES SA, Class A | &nbsp;&nbsp; 148291 | 801844 |
| Societe BIC SA | &nbsp;&nbsp; 9839 | 617315 |
| Societe Generale SA | &nbsp;&nbsp; 262370 | 6805081 |
| Sodexo SA | &nbsp;&nbsp; 31903 | 3021447 |
| SOITEC<sup>(a)</sup> | &nbsp;&nbsp; 10009 | 1290474 |
| Sopra Steria Group SACA | &nbsp;&nbsp; 5661 | 1049295 |
| SPIE SA | &nbsp;&nbsp; 53604 | 2072057 |
| STMicroelectronics NV | &nbsp;&nbsp; 250031 | 8266733 |
| Technip Energies NV | &nbsp;&nbsp; 59915 | 1526423 |
| Teleperformance SE | &nbsp;&nbsp; 22130 | 2848913 |
| Thales SA | &nbsp;&nbsp; 35147 | 5586737 |
| TotalEnergies SE | &nbsp;&nbsp; 792524 | 53468655 |
| Trigano SA | &nbsp;&nbsp; 3971 | 465613 |
| Ubisoft Entertainment SA<sup>(a)</sup> | &nbsp;&nbsp; 37703 | 774549 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 43619 | 3261882 |
| Valeo SE | &nbsp;&nbsp; 96246 | 1099818 |
| Vallourec SACA<sup>(a)(b)</sup> | &nbsp;&nbsp; 62489 | 1010361 |
| Veolia Environnement SA | &nbsp;&nbsp; 255207 | 8016997 |
| Verallia SA<sup>(c)</sup> | &nbsp;&nbsp; 30004 | 882579 |
| Vicat SACA | &nbsp;&nbsp; 12045 | 418874 |
| Vinci SA | &nbsp;&nbsp; 184489 | 21053503 |
| Virbac SACA | &nbsp;&nbsp; 2023 | 770103 |
| Vivendi SE | &nbsp;&nbsp; 248460 | 2651256 |
| Voltalia SA<sup>(a)</sup> | &nbsp;&nbsp; 30147 | 335112 |
| VusionGroup<sup>(b)</sup> | &nbsp;&nbsp; 2896 | 422073 |
| Wendel SE | &nbsp;&nbsp; 9759 | 935025 |
| Worldline SA/France<sup>(a)(c)</sup> | &nbsp;&nbsp; 99166 | 1125224 |
|  |  | 737833404 |
| **Germany — 11.9%** | **Germany — 11.9%** | **Germany — 11.9%** |
| About You Holding SE<sup>(a)</sup> | &nbsp;&nbsp; 61507 | 232390 |
| adidas AG | &nbsp;&nbsp; 59837 | 14994988 |
| AIXTRON SE<sup>(b)</sup> | &nbsp;&nbsp; 44854 | 1047321 |
| Allianz SE, Registered | &nbsp;&nbsp; 144306 | 40646005 |
| Amadeus Fire AG | &nbsp;&nbsp; 3969 | 407838 |
| Aroundtown SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 300112 | 640253 |
| Aurubis AG | &nbsp;&nbsp; 12548 | 978559 |
| BASF SE | &nbsp;&nbsp; 328879 | 15311665 |
| Bayer AG, Registered | &nbsp;&nbsp; 361228 | 10746781 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 118374 | 10979085 |
| Bechtle AG<sup>(b)</sup> | &nbsp;&nbsp; 31281 | 1382419 |
| Befesa SA<sup>(c)</sup> | &nbsp;&nbsp; 16244 | 504320 |
| Beiersdorf AG | &nbsp;&nbsp; 37744 | 5478429 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Europe ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Bilfinger SE | &nbsp;&nbsp; 12288 | $688930 |
| Brenntag SE | &nbsp;&nbsp; 51639 | 3673408 |
| CANCOM SE | &nbsp;&nbsp; 16272 | 577286 |
| Carl Zeiss Meditec AG, Bearer | &nbsp;&nbsp; 16002 | 1094770 |
| Commerzbank AG | &nbsp;&nbsp; 404573 | 6595540 |
| CompuGroup Medical SE & Co. KgaA<sup>(b)</sup> | &nbsp;&nbsp; 18776 | 325634 |
| Continental AG | &nbsp;&nbsp; 41757 | 2559863 |
| Covestro AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 70151 | 4129708 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 25796 | 2272209 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 199873 | 7716885 |
| Delivery Hero SE, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 80440 | 1789644 |
| Dermapharm Holding SE | &nbsp;&nbsp; 9538 | 365370 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 698633 | 10874554 |
| Deutsche Boerse AG | &nbsp;&nbsp; 70083 | 14350787 |
| Deutsche Lufthansa AG, Registered<sup>(b)</sup> | &nbsp;&nbsp; 219591 | 1376129 |
| Deutsche Pfandbriefbank AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 91201 | 514684 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 364872 | 16275310 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 1201744 | 31434598 |
| Deutz AG | &nbsp;&nbsp; 25206 | 145179 |
| Duerr AG | &nbsp;&nbsp; 22426 | 493251 |
| E.ON SE | &nbsp;&nbsp; 831350 | 11658120 |
| Eckert & Ziegler SE | &nbsp;&nbsp; 7698 | 360276 |
| Encavis AG, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 59583 | 1116734 |
| Evonik Industries AG | &nbsp;&nbsp; 90229 | 1827290 |
| Evotec SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 75893 | 715108 |
| Fielmann Group AG | &nbsp;&nbsp; 11551 | 522970 |
| flatexDEGIRO AG | &nbsp;&nbsp; 34988 | 494088 |
| Fraport AG Frankfurt Airport Services Worldwide<sup>(a)</sup> | &nbsp;&nbsp; 15770 | 800852 |
| Freenet AG | &nbsp;&nbsp; 46997 | 1300505 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 75435 | 2910874 |
| Fresenius SE & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 156931 | 5622956 |
| GEA Group AG | &nbsp;&nbsp; 58403 | 2578811 |
| Gerresheimer AG | &nbsp;&nbsp; 13020 | 1346103 |
| Grand City Properties SA<sup>(a)</sup> | &nbsp;&nbsp; 26811 | 316048 |
| Grenke AG | &nbsp;&nbsp; 15159 | 468106 |
| Hannover Rueck SE | &nbsp;&nbsp; 21442 | 5323845 |
| Heidelberg Materials AG | &nbsp;&nbsp; 52552 | 5474824 |
| HelloFresh SE<sup>(a)</sup> | &nbsp;&nbsp; 72038 | 450003 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 38698 | 2998432 |
| Hensoldt AG | &nbsp;&nbsp; 24695 | 913744 |
| Hornbach Holding AG & Co. KGaA | &nbsp;&nbsp; 5035 | 412691 |
| Hugo Boss AG<sup>(b)</sup> | &nbsp;&nbsp; 21910 | 870714 |
| Hypoport SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 1604 | 476714 |
| Infineon Technologies AG | &nbsp;&nbsp; 485850 | 16877525 |
| Jenoptik AG | &nbsp;&nbsp; 24809 | 707347 |
| K+S AG, Registered<sup>(b)</sup> | &nbsp;&nbsp; 68955 | 888323 |
| KION Group AG | &nbsp;&nbsp; 27192 | 1075439 |
| Knorr-Bremse AG | &nbsp;&nbsp; 26135 | 2101668 |
| Kontron AG | &nbsp;&nbsp; 16240 | 344080 |
| Krones AG | &nbsp;&nbsp; 6420 | 868588 |
| Lanxess AG | &nbsp;&nbsp; 35195 | 918822 |
| LEG Immobilien SE | &nbsp;&nbsp; 27964 | 2439341 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 295360 | 19524602 |
| Merck KGaA | &nbsp;&nbsp; 47637 | 8511411 |
| METRO AG<sup>(b)</sup> | &nbsp;&nbsp; 75295 | 342870 |
| MTU Aero Engines AG | &nbsp;&nbsp; 19798 | 5606073 |
| Muenchener Rueckversicherungs-Gesellschaft AG in <br> Muenchen, Registered<br>| &nbsp;&nbsp; 50157 | 24703564 |
| Nagarro SE<sup>(a)</sup> | &nbsp;&nbsp; 5839 | 507767 |
| Nemetschek SE | &nbsp;&nbsp; 22557 | 2154557 |
| Nordex SE<sup>(a)</sup> | &nbsp;&nbsp; 49439 | 749551 |
| Pfeiffer Vacuum Technology AG | &nbsp;&nbsp; 2812 | 479539 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| ProSiebenSat.1 Media SE<sup>(b)</sup> | &nbsp;&nbsp; 61317 | $420655 |
| Puma SE | &nbsp;&nbsp; 39532 | 1961701 |
| Qiagen NV, NVS | &nbsp;&nbsp; 79657 | 3544254 |
| Rational AG | &nbsp;&nbsp; 1967 | 1721866 |
| Redcare Pharmacy NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 6480 | 970078 |
| Rheinmetall AG | &nbsp;&nbsp; 16610 | 9046741 |
| RWE AG | &nbsp;&nbsp; 230750 | 8611798 |
| SAF-Holland SE | &nbsp;&nbsp; 22363 | 457480 |
| SAP SE | &nbsp;&nbsp; 387366 | 81897011 |
| Schott Pharma AG & Co. KGaA<sup>(b)</sup> | &nbsp;&nbsp; 17469 | 602052 |
| Scout24 SE<sup>(c)</sup> | &nbsp;&nbsp; 28255 | 2233767 |
| Siemens AG, Registered | &nbsp;&nbsp; 281096 | 51467829 |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 225303 | 6542470 |
| Siemens Healthineers AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 101693 | 5450654 |
| Siltronic AG | &nbsp;&nbsp; 8321 | 678614 |
| Sixt SE<sup>(b)</sup> | &nbsp;&nbsp; 7134 | 497781 |
| Stabilus SE | &nbsp;&nbsp; 11628 | 569023 |
| Stroeer SE & Co. KGaA | &nbsp;&nbsp; 12565 | 849525 |
| Suedzucker AG | &nbsp;&nbsp; 28129 | 370791 |
| SUESS MicroTec SE | &nbsp;&nbsp; 9541 | 647894 |
| Symrise AG, Class A | &nbsp;&nbsp; 49130 | 6191921 |
| TAG Immobilien AG<sup>(a)</sup> | &nbsp;&nbsp; 66548 | 1002594 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 23739 | 1803485 |
| TeamViewer SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 62913 | 848503 |
| thyssenkrupp AG | &nbsp;&nbsp; 189602 | 725986 |
| TUI AG<sup>(a)</sup> | &nbsp;&nbsp; 176001 | 1135003 |
| United Internet AG, Registered<sup>(d)</sup> | &nbsp;&nbsp; 35516 | 787717 |
| Volkswagen AG | &nbsp;&nbsp; 11903 | 1404424 |
| Vonovia SE | &nbsp;&nbsp; 272999 | 8370204 |
| Vossloh AG | &nbsp;&nbsp; 7555 | 401631 |
| Wacker Chemie AG | &nbsp;&nbsp; 7436 | 743220 |
| Zalando SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 84038 | 2153413 |
|  |  | 552474752 |
| **Ireland — 0.5%** | **Ireland — 0.5%** | **Ireland — 0.5%** |
| AIB Group PLC | &nbsp;&nbsp; 592566 | 3399009 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 380745 | 4311913 |
| Cairn Homes PLC | &nbsp;&nbsp; 339681 | 694801 |
| Dalata Hotel Group PLC | &nbsp;&nbsp; 111288 | 495450 |
| Glanbia PLC | &nbsp;&nbsp; 84653 | 1693974 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 59784 | 5589549 |
| Kingspan Group PLC | &nbsp;&nbsp; 57587 | 5388080 |
|  |  | 21572776 |
| **Italy — 4.4%** | **Italy — 4.4%** | **Italy — 4.4%** |
| A2A SpA | &nbsp;&nbsp; 688582 | 1458465 |
| ACEA SpA | &nbsp;&nbsp; 22204 | 385228 |
| Amplifon SpA | &nbsp;&nbsp; 46039 | 1462217 |
| Anima Holding SpA<sup>(c)</sup> | &nbsp;&nbsp; 110708 | 582160 |
| Azimut Holding SpA | &nbsp;&nbsp; 48385 | 1212327 |
| Banca Generali SpA | &nbsp;&nbsp; 28350 | 1233693 |
| Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp; 361461 | 1972441 |
| Banca Popolare di Sondrio SpA | &nbsp;&nbsp; 142745 | 1087879 |
| Banco BPM SpA | &nbsp;&nbsp; 483776 | 3349505 |
| BFF Bank SpA<sup>(c)</sup> | &nbsp;&nbsp; 89419 | 1010761 |
| BPER Banca SpA | &nbsp;&nbsp; 367256 | 2148826 |
| Brembo NV | &nbsp;&nbsp; 62273 | 698596 |
| Brunello Cucinelli SpA | &nbsp;&nbsp; 12808 | 1196360 |
| Buzzi SpA | &nbsp;&nbsp; 36335 | 1424479 |
| Carel Industries SpA<sup>(c)</sup> | &nbsp;&nbsp; 25857 | 477578 |
| Credito Emiliano SpA | &nbsp;&nbsp; 54736 | 599177 |
| Davide Campari-Milano NV | &nbsp;&nbsp; 230721 | 2080751 |
| De' Longhi SpA | &nbsp;&nbsp; 31505 | 993047 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Europe ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| DiaSorin SpA | &nbsp;&nbsp; 8876 | $968114 |
| Enav SpA<sup>(c)</sup> | &nbsp;&nbsp; 97549 | 417238 |
| Enel SpA | &nbsp;&nbsp; 2985714 | 21315532 |
| Eni SpA | &nbsp;&nbsp; 802697 | 12842984 |
| ERG SpA | &nbsp;&nbsp; 25541 | 677236 |
| Ferrari NV | &nbsp;&nbsp; 46844 | 19279707 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 221319 | 3757160 |
| Generali | &nbsp;&nbsp; 371426 | 9613624 |
| GVS SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 29401 | 203179 |
| Hera SpA | &nbsp;&nbsp; 359803 | 1316517 |
| Infrastrutture Wireless Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 138893 | 1545493 |
| Intercos SpA, NVS | &nbsp;&nbsp; 5468 | 97643 |
| Interpump Group SpA | &nbsp;&nbsp; 32262 | 1399147 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 5436774 | 22077827 |
| Iren SpA | &nbsp;&nbsp; 325936 | 663229 |
| Italgas SpA | &nbsp;&nbsp; 188637 | 1008673 |
| Iveco Group NV | &nbsp;&nbsp; 66616 | 684088 |
| Juventus Football Club SpA, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 90270 | 232513 |
| Leonardo SpA | &nbsp;&nbsp; 145552 | 3467830 |
| Lottomatica Group SpA | &nbsp;&nbsp; 41783 | 510530 |
| Maire Tecnimont SpA | &nbsp;&nbsp; 68032 | 539819 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 191274 | 3104996 |
| Moncler SpA | &nbsp;&nbsp; 80390 | 4793339 |
| Nexi SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 228685 | 1403595 |
| Pirelli & C SpA<sup>(c)</sup> | &nbsp;&nbsp; 143773 | 900060 |
| Poste Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 164977 | 2233383 |
| Prysmian SpA | &nbsp;&nbsp; 98861 | 6796150 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 40100 | 2183171 |
| Reply SpA | &nbsp;&nbsp; 9530 | 1352743 |
| Saipem SpA<sup>(a)</sup> | &nbsp;&nbsp; 474859 | 1128091 |
| Salvatore Ferragamo SpA<sup>(b)</sup> | &nbsp;&nbsp; 34128 | 297590 |
| Saras SpA | &nbsp;&nbsp; 197238 | 341329 |
| Snam SpA | &nbsp;&nbsp; 784187 | 3747335 |
| SOL SpA | &nbsp;&nbsp; 13438 | 502488 |
| Stellantis NV | &nbsp;&nbsp; 821685 | 13692607 |
| Tamburi Investment Partners SpA | &nbsp;&nbsp; 59860 | 603580 |
| Technogym SpA<sup>(c)</sup> | &nbsp;&nbsp; 74949 | 735058 |
| Technoprobe SpA<sup>(a)</sup> | &nbsp;&nbsp; 59734 | 543503 |
| Telecom Italia SpA/Milano<sup>(a)(b)</sup> | &nbsp;&nbsp; 4124522 | 1010971 |
| Tenaris SA, NVS | &nbsp;&nbsp; 179800 | 2852856 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 492744 | 4103204 |
| UniCredit SpA | &nbsp;&nbsp; 560335 | 23015592 |
| Unipol Gruppo SpA | &nbsp;&nbsp; 151471 | 1632003 |
| Webuild SpA | &nbsp;&nbsp; 125178 | 327698 |
|  |  | 203292915 |
| **Netherlands — 7.1%** | **Netherlands — 7.1%** | **Netherlands — 7.1%** |
| Aalberts NV | &nbsp;&nbsp; 38251 | 1462627 |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 164526 | 2872106 |
| Adyen NV<sup>(a)(c)</sup> | &nbsp;&nbsp; 8251 | 10092938 |
| Aegon Ltd. | &nbsp;&nbsp; 499204 | 3230475 |
| AerCap Holdings NV | &nbsp;&nbsp; 77281 | 7260550 |
| Akzo Nobel NV | &nbsp;&nbsp; 62468 | 3862534 |
| Alfen NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 11663 | 215633 |
| Allfunds Group PLC | &nbsp;&nbsp; 131732 | 791768 |
| Arcadis NV | &nbsp;&nbsp; 26145 | 1867306 |
| ASM International NV | &nbsp;&nbsp; 16386 | 11273912 |
| ASML Holding NV | &nbsp;&nbsp; 147615 | 137454853 |
| ASR Nederland NV | &nbsp;&nbsp; 63270 | 3178827 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 29181 | 3759231 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 78184 | 5767634 |
| Corbion NV | &nbsp;&nbsp; 31474 | 704555 |
| DSM-Firmenich AG | &nbsp;&nbsp; 68404 | 8733063 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| Eurocommercial Properties NV | &nbsp;&nbsp; 6407 | $159581 |
| EXOR NV, NVS | &nbsp;&nbsp; 38020 | 3897522 |
| Flow Traders Ltd., NVS | &nbsp;&nbsp; 14396 | 239989 |
| Fugro NV | &nbsp;&nbsp; 48233 | 1288206 |
| Heineken Holding NV | &nbsp;&nbsp; 48692 | 3588136 |
| Heineken NV | &nbsp;&nbsp; 107834 | 9569270 |
| IMCD NV | &nbsp;&nbsp; 21156 | 3042094 |
| ING Groep NV | &nbsp;&nbsp; 1211588 | 21991465 |
| InPost SA<sup>(a)</sup> | &nbsp;&nbsp; 72243 | 1251649 |
| JDE Peet's NV | &nbsp;&nbsp; 45004 | 989669 |
| Just Eat Takeaway.com NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 87819 | 1119198 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 351289 | 11316842 |
| Koninklijke KPN NV | &nbsp;&nbsp; 1495734 | 5893467 |
| Koninklijke Philips NV<sup>(a)</sup> | &nbsp;&nbsp; 296854 | 8338534 |
| Koninklijke Vopak NV | &nbsp;&nbsp; 26973 | 1204967 |
| NN Group NV | &nbsp;&nbsp; 106450 | 5342104 |
| OCI NV | &nbsp;&nbsp; 41799 | 1007372 |
| Pharming Group NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 360878 | 312386 |
| Prosus NV | &nbsp;&nbsp; 522435 | 18224247 |
| Randstad NV | &nbsp;&nbsp; 39207 | 1909575 |
| Royal BAM Group NV | &nbsp;&nbsp; 116571 | 483114 |
| SBM Offshore NV | &nbsp;&nbsp; 61691 | 999780 |
| Signify NV<sup>(c)</sup> | &nbsp;&nbsp; 51547 | 1276014 |
| TKH Group NV | &nbsp;&nbsp; 19125 | 838090 |
| Universal Music Group NV | &nbsp;&nbsp; 308516 | 7350231 |
| Van Lanschot Kempen NV | &nbsp;&nbsp; 11107 | 480703 |
| Wolters Kluwer NV | &nbsp;&nbsp; 92238 | 15441498 |
|  |  | 330083715 |
| **Norway — 1.4%** | **Norway — 1.4%** | **Norway — 1.4%** |
| Aker ASA, Class A | &nbsp;&nbsp; 12974 | 761076 |
| Aker BP ASA | &nbsp;&nbsp; 115910 | 2806667 |
| Atea ASA | &nbsp;&nbsp; 50248 | 668708 |
| Austevoll Seafood ASA | &nbsp;&nbsp; 50328 | 415641 |
| Bakkafrost P/F | &nbsp;&nbsp; 19906 | 1039783 |
| BlueNord ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 4621 | 216002 |
| Borr Drilling Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 112920 | 767218 |
| Borregaard ASA | &nbsp;&nbsp; 40666 | 696987 |
| BW Offshore Ltd. | &nbsp;&nbsp; 74290 | 206993 |
| Cadeler AS<sup>(a)</sup> | &nbsp;&nbsp; 80825 | 522259 |
| Cavendish Hydrogen ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 15464 | 26368 |
| DNB Bank ASA | &nbsp;&nbsp; 311197 | 6429342 |
| DOF Group ASA<sup>(a)</sup> | &nbsp;&nbsp; 60720 | 627971 |
| Elkem ASA<sup>(a)(c)</sup> | &nbsp;&nbsp; 177790 | 371037 |
| Entra ASA<sup>(a)(c)</sup> | &nbsp;&nbsp; 42384 | 476436 |
| Equinor ASA | &nbsp;&nbsp; 342257 | 9063032 |
| Europris ASA<sup>(c)</sup> | &nbsp;&nbsp; 73754 | 440065 |
| Frontline PLC, NVS | &nbsp;&nbsp; 62066 | 1529664 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 75137 | 1271150 |
| Golden Ocean Group Ltd. | &nbsp;&nbsp; 53534 | 665336 |
| Hafnia Ltd. | &nbsp;&nbsp; 110458 | 875208 |
| Hoegh Autoliners ASA | &nbsp;&nbsp; 52092 | 569397 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 33378 | 3356312 |
| Leroy Seafood Group ASA | &nbsp;&nbsp; 106480 | 462592 |
| Mowi ASA | &nbsp;&nbsp; 166513 | 2810492 |
| MPC Container Ships ASA | &nbsp;&nbsp; 245759 | 515609 |
| NEL ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 1044469 | 562741 |
| Nordic Semiconductor ASA<sup>(a)</sup> | &nbsp;&nbsp; 72179 | 892735 |
| Norsk Hydro ASA | &nbsp;&nbsp; 499687 | 2771692 |
| Orkla ASA | &nbsp;&nbsp; 287588 | 2427097 |
| Protector Forsikring ASA | &nbsp;&nbsp; 11106 | 229517 |
| Salmar ASA | &nbsp;&nbsp; 26006 | 1496250 |
| Scatec ASA<sup>(a)(c)</sup> | &nbsp;&nbsp; 47993 | 387382 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Europe ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| Schibsted ASA, Class A | &nbsp;&nbsp; 31519 | $905941 |
| Schibsted ASA, Class B | &nbsp;&nbsp; 34810 | 946295 |
| Seadrill Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 15431 | 849739 |
| SpareBank 1 SMN | &nbsp;&nbsp; 66958 | 999467 |
| SpareBank 1 SR-Bank ASA | &nbsp;&nbsp; 64698 | 830567 |
| Stolt-Nielsen Ltd. | &nbsp;&nbsp; 5116 | 200690 |
| Storebrand ASA | &nbsp;&nbsp; 185498 | 1861836 |
| Subsea 7 SA | &nbsp;&nbsp; 96316 | 1852640 |
| Telenor ASA | &nbsp;&nbsp; 230289 | 2743898 |
| TGS ASA | &nbsp;&nbsp; 59680 | 729775 |
| TOMRA Systems ASA<sup>(b)</sup> | &nbsp;&nbsp; 92979 | 1532600 |
| Wallenius Wilhelmsen ASA | &nbsp;&nbsp; 39041 | 363013 |
| Yara International ASA | &nbsp;&nbsp; 69004 | 1965672 |
|  |  | 62140892 |
| **Portugal — 0.3%** | **Portugal — 0.3%** | **Portugal — 0.3%** |
| Banco Comercial Portugues SA, Class R | &nbsp;&nbsp; 3695741 | 1557949 |
| EDP Renovaveis SA | &nbsp;&nbsp; 125702 | 1954168 |
| EDP SA | &nbsp;&nbsp; 1156161 | 4765077 |
| Galp Energia SGPS SA | &nbsp;&nbsp; 182472 | 3836731 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 102604 | 1793347 |
| Navigator Co. SA (The) | &nbsp;&nbsp; 121346 | 492353 |
| REN - Redes Energeticas Nacionais SGPS SA | &nbsp;&nbsp; 146828 | 372355 |
| Sonae SGPS SA | &nbsp;&nbsp; 490391 | 500206 |
|  |  | 15272186 |
| **Singapore — 0.0%** | **Singapore — 0.0%** | **Singapore — 0.0%** |
| BW LPG Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 43886 | 713159 |
| **Spain — 4.0%** | **Spain — 4.0%** | **Spain — 4.0%** |
| Acciona SA | &nbsp;&nbsp; 9026 | 1170162 |
| Acerinox SA | &nbsp;&nbsp; 68564 | 720436 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 81741 | 3651916 |
| Aena SME SA<sup>(c)</sup> | &nbsp;&nbsp; 26580 | 5050164 |
| Almirall SA | &nbsp;&nbsp; 9571 | 95412 |
| Amadeus IT Group SA | &nbsp;&nbsp; 165797 | 10919527 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 2153611 | 22572453 |
| Banco de Sabadell SA | &nbsp;&nbsp; 1996669 | 4213460 |
| Banco Santander SA | &nbsp;&nbsp; 5886801 | 28398796 |
| Bankinter SA | &nbsp;&nbsp; 258153 | 2205000 |
| CaixaBank SA | &nbsp;&nbsp; 1377448 | 8033605 |
| Cellnex Telecom SA<sup>(c)</sup> | &nbsp;&nbsp; 183752 | 6408665 |
| Cia. de Distribucion Integral Logista Holdings SA | &nbsp;&nbsp; 30581 | 905631 |
| Cie. Automotive SA | &nbsp;&nbsp; 22619 | 660688 |
| Construcciones y Auxiliar de Ferrocarriles SA | &nbsp;&nbsp; 2395 | 90673 |
| Enagas SA | &nbsp;&nbsp; 88803 | 1331330 |
| Endesa SA | &nbsp;&nbsp; 114306 | 2218016 |
| Faes Farma SA | &nbsp;&nbsp; 174332 | 667405 |
| Ferrovial SE | &nbsp;&nbsp; 188956 | 7513978 |
| Fluidra SA | &nbsp;&nbsp; 36133 | 804997 |
| Grifols SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 121799 | 1230236 |
| Iberdrola SA | &nbsp;&nbsp; 2188318 | 28903728 |
| Indra Sistemas SA | &nbsp;&nbsp; 35686 | 715643 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 403557 | 19608375 |
| Inmobiliaria Colonial SOCIMI SA | &nbsp;&nbsp; 113174 | 658363 |
| Laboratorios Farmaceuticos Rovi SA | &nbsp;&nbsp; 9314 | 896139 |
| Lar Espana Real Estate SOCIMI SA | &nbsp;&nbsp; 44405 | 391186 |
| Linea Directa Aseguradora SA Cia de Seguros <br> y Reaseguros<br>| &nbsp;&nbsp; 328907 | 393691 |
| Mapfre SA | &nbsp;&nbsp; 373426 | 904972 |
| Melia Hotels International SA | &nbsp;&nbsp; 23163 | 177355 |
| Merlin Properties SOCIMI SA | &nbsp;&nbsp; 155304 | 1773552 |
| Redeia Corp. SA | &nbsp;&nbsp; 130938 | 2324788 |
| Repsol SA | &nbsp;&nbsp; 450277 | 6422265 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Sacyr SA | &nbsp;&nbsp; 228463 | $807156 |
| Solaria Energia y Medio Ambiente SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 37489 | 447686 |
| Telefonica SA | &nbsp;&nbsp; 1771545 | 8023750 |
| Unicaja Banco SA<sup>(c)</sup> | &nbsp;&nbsp; 528195 | 710959 |
| Vidrala SA | &nbsp;&nbsp; 9307 | 968602 |
| Viscofan SA | &nbsp;&nbsp; 17459 | 1164129 |
|  |  | 184154889 |
| **Sweden — 5.6%** | **Sweden — 5.6%** | **Sweden — 5.6%** |
| AAK AB | &nbsp;&nbsp; 69726 | 2006509 |
| AddLife AB, Class B | &nbsp;&nbsp; 52166 | 764849 |
| Addnode Group AB, Class B | &nbsp;&nbsp; 45031 | 447520 |
| AddTech AB, Class B | &nbsp;&nbsp; 97549 | 3147796 |
| AFRY AB | &nbsp;&nbsp; 40036 | 725688 |
| Alfa Laval AB | &nbsp;&nbsp; 107059 | 4733725 |
| Alimak Group AB<sup>(c)</sup> | &nbsp;&nbsp; 9726 | 103108 |
| Alleima AB, NVS | &nbsp;&nbsp; 73108 | 531272 |
| AQ Group AB | &nbsp;&nbsp; 18004 | 239806 |
| Arjo AB, Class B | &nbsp;&nbsp; 91614 | 355064 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 369702 | 11259015 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 993086 | 17674604 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 568263 | 8890993 |
| Atrium Ljungberg AB, Class B | &nbsp;&nbsp; 23962 | 512533 |
| Avanza Bank Holding AB | &nbsp;&nbsp; 47237 | 1061124 |
| Axfood AB | &nbsp;&nbsp; 43298 | 1073838 |
| Beijer Ref AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 148005 | 2350265 |
| Betsson AB | &nbsp;&nbsp; 49842 | 593264 |
| Better Collective A/S<sup>(a)(b)</sup> | &nbsp;&nbsp; 24481 | 561208 |
| Bilia AB, Class A | &nbsp;&nbsp; 43336 | 539387 |
| Billerud Aktiebolag | &nbsp;&nbsp; 83562 | 841435 |
| BioGaia AB, Class B | &nbsp;&nbsp; 22664 | 269830 |
| Biotage AB | &nbsp;&nbsp; 30449 | 570926 |
| Boliden AB | &nbsp;&nbsp; 105786 | 3235210 |
| BoneSupport Holding AB<sup>(a)(c)</sup> | &nbsp;&nbsp; 23631 | 665944 |
| Boozt AB<sup>(a)(c)</sup> | &nbsp;&nbsp; 32197 | 329510 |
| Bravida Holding AB<sup>(c)</sup> | &nbsp;&nbsp; 77725 | 629119 |
| Bufab AB | &nbsp;&nbsp; 10467 | 436436 |
| Bure Equity AB | &nbsp;&nbsp; 21936 | 821819 |
| Camurus AB<sup>(a)</sup> | &nbsp;&nbsp; 13053 | 826069 |
| Castellum AB<sup>(a)</sup> | &nbsp;&nbsp; 154597 | 1936591 |
| Catena AB | &nbsp;&nbsp; 15022 | 764743 |
| Cibus Nordic Real Estate AB publ | &nbsp;&nbsp; 12783 | 199664 |
| Dometic Group AB<sup>(c)</sup> | &nbsp;&nbsp; 125063 | 858060 |
| Electrolux AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 83176 | 740882 |
| Electrolux Professional AB, Class B | &nbsp;&nbsp; 99477 | 626176 |
| Elekta AB, Class B | &nbsp;&nbsp; 143355 | 899998 |
| Embracer Group AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 384449 | 983690 |
| Epiroc AB | &nbsp;&nbsp; 245648 | 4585111 |
| Epiroc AB, Class B | &nbsp;&nbsp; 140365 | 2360155 |
| EQT AB | &nbsp;&nbsp; 141233 | 4573108 |
| Essity AB, Class B | &nbsp;&nbsp; 222513 | 6256246 |
| Evolution AB<sup>(c)</sup> | &nbsp;&nbsp; 67847 | 6572288 |
| Fabege AB | &nbsp;&nbsp; 96111 | 805951 |
| Fastighets AB Balder, Class B<sup>(a)</sup> | &nbsp;&nbsp; 243187 | 1793342 |
| Fortnox AB | &nbsp;&nbsp; 189646 | 1172495 |
| Getinge AB, Class B | &nbsp;&nbsp; 86762 | 1694276 |
| Granges AB | &nbsp;&nbsp; 50569 | 617341 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 210597 | 3276351 |
| Hemnet Group AB | &nbsp;&nbsp; 35688 | 1318988 |
| Hexagon AB, Class B | &nbsp;&nbsp; 757429 | 7713994 |
| Hexatronic Group AB<sup>(a)</sup> | &nbsp;&nbsp; 106785 | 631233 |
| Hexpol AB | &nbsp;&nbsp; 108209 | 1210205 |
| Holmen AB, Class B | &nbsp;&nbsp; 28375 | 1115479 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Europe ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Hufvudstaden AB, Class A | &nbsp;&nbsp; 46283 | $560933 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 136413 | 921217 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 47212 | 1619569 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 56764 | 1924136 |
| Indutrade AB | &nbsp;&nbsp; 100711 | 2961412 |
| Instalco AB | &nbsp;&nbsp; 99766 | 475203 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 53125 | 1560092 |
| Investor AB, Class B | &nbsp;&nbsp; 642837 | 18250218 |
| INVISIO AB | &nbsp;&nbsp; 6046 | 141320 |
| Inwido AB | &nbsp;&nbsp; 6527 | 107720 |
| JM AB | &nbsp;&nbsp; 34705 | 676596 |
| Kindred Group PLC | &nbsp;&nbsp; 88216 | 1042032 |
| Kinnevik AB | &nbsp;&nbsp; 99949 | 838025 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 26389 | 1334057 |
| Lifco AB, Class B | &nbsp;&nbsp; 88626 | 2629223 |
| Lindab International AB | &nbsp;&nbsp; 30989 | 766691 |
| Loomis AB, Class B | &nbsp;&nbsp; 28638 | 912556 |
| Medicover AB, Class B | &nbsp;&nbsp; 29911 | 539683 |
| Millicom International Cellular SA, SDR<sup>(a)</sup> | &nbsp;&nbsp; 56995 | 1418871 |
| MIPS AB | &nbsp;&nbsp; 12924 | 643521 |
| Munters Group AB<sup>(c)</sup> | &nbsp;&nbsp; 59652 | 1291465 |
| Mycronic AB | &nbsp;&nbsp; 32927 | 1154624 |
| NCAB Group AB | &nbsp;&nbsp; 78117 | 571466 |
| NCC AB, Class B | &nbsp;&nbsp; 37178 | 574019 |
| New Wave Group AB, Class B | &nbsp;&nbsp; 39910 | 422641 |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 584137 | 2566841 |
| Nolato AB, Class B | &nbsp;&nbsp; 92212 | 495186 |
| Nordnet AB publ | &nbsp;&nbsp; 54797 | 1119500 |
| Nyfosa AB | &nbsp;&nbsp; 65997 | 675441 |
| OX2 AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 69667 | 385887 |
| Pandox AB, Class B | &nbsp;&nbsp; 44138 | 818816 |
| Peab AB, Class B | &nbsp;&nbsp; 76935 | 573807 |
| Saab AB | &nbsp;&nbsp; 120043 | 2771915 |
| Sagax AB, Class B | &nbsp;&nbsp; 84661 | 2091498 |
| Sandvik AB | &nbsp;&nbsp; 387784 | 7938645 |
| Scandic Hotels Group AB<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 92137 | 560761 |
| Sdiptech AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 14261 | 436703 |
| Sectra AB, Class B | &nbsp;&nbsp; 54951 | 1251190 |
| Securitas AB, Class B | &nbsp;&nbsp; 172584 | 1856590 |
| Sinch AB<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 285098 | 772738 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 576507 | 8866382 |
| Skanska AB, Class B | &nbsp;&nbsp; 123396 | 2412609 |
| SKF AB, Class B | &nbsp;&nbsp; 127057 | 2362099 |
| SSAB AB, Class A | &nbsp;&nbsp; 94412 | 487090 |
| SSAB AB, Class B | &nbsp;&nbsp; 226490 | 1148011 |
| Storskogen Group AB | &nbsp;&nbsp; 587888 | 477358 |
| Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 218753 | 2973658 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 528938 | 5339028 |
| Sweco AB, Class B | &nbsp;&nbsp; 90084 | 1455892 |
| Swedbank AB, Class A | &nbsp;&nbsp; 303178 | 6446759 |
| Swedish Orphan Biovitrum AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 73021 | 1907825 |
| Tele2 AB, Class B | &nbsp;&nbsp; 207923 | 2140705 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 1061903 | 7301495 |
| Telia Co. AB | &nbsp;&nbsp; 845143 | 2456300 |
| Thule Group AB<sup>(c)</sup> | &nbsp;&nbsp; 42395 | 1172109 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 85418 | 3174352 |
| Troax Group AB | &nbsp;&nbsp; 20332 | 461838 |
| Truecaller AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 79051 | 250373 |
| VBG Group AB, Class B | &nbsp;&nbsp; 2356 | 93869 |
| Vitec Software Group AB, Class B | &nbsp;&nbsp; 14163 | 740905 |
| Vitrolife AB | &nbsp;&nbsp; 34040 | 732073 |
| Volvo AB, Class A | &nbsp;&nbsp; 78512 | 2041037 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Volvo AB, Class B | &nbsp;&nbsp; 581758 | $14846901 |
| Volvo Car AB<sup>(a)</sup> | &nbsp;&nbsp; 295279 | 837806 |
| Wallenstam AB, Class B | &nbsp;&nbsp; 137523 | 693691 |
| Wihlborgs Fastigheter AB | &nbsp;&nbsp; 114606 | 1160848 |
| Xvivo Perfusion AB<sup>(a)</sup> | &nbsp;&nbsp; 8451 | 400581 |
| Yubico AB<sup>(a)</sup> | &nbsp;&nbsp; 18248 | 461265 |
|  |  | 259399900 |
| **Switzerland — 14.4%** | **Switzerland — 14.4%** | **Switzerland — 14.4%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 589881 | 32742295 |
| Accelleron Industries AG, NVS | &nbsp;&nbsp; 34710 | 1717612 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 60751 | 2067862 |
| Alcon Inc. | &nbsp;&nbsp; 185273 | 17542487 |
| Allreal Holding AG, Registered | &nbsp;&nbsp; 6359 | 1133659 |
| ALSO Holding AG, Registered | &nbsp;&nbsp; 3124 | 947168 |
| ams-OSRAM AG<sup>(a)</sup> | &nbsp;&nbsp; 403414 | 541647 |
| Arbonia AG<sup>(a)</sup> | &nbsp;&nbsp; 28620 | 414097 |
| Aryzta AG<sup>(a)</sup> | &nbsp;&nbsp; 438274 | 839038 |
| Avolta AG, Registered | &nbsp;&nbsp; 39803 | 1501824 |
| Bachem Holding AG | &nbsp;&nbsp; 13590 | 1219590 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 17365 | 3107662 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 11960 | 1269523 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 1397 | 2247789 |
| Belimo Holding AG, Registered | &nbsp;&nbsp; 3589 | 2175724 |
| BKW AG | &nbsp;&nbsp; 8245 | 1491450 |
| Bossard Holding AG, Class A, Registered | &nbsp;&nbsp; 2725 | 694548 |
| Bucher Industries AG, Registered | &nbsp;&nbsp; 3063 | 1240910 |
| Burckhardt Compression Holding AG | &nbsp;&nbsp; 1153 | 803354 |
| Cembra Money Bank AG | &nbsp;&nbsp; 12379 | 1080960 |
| Chocoladefabriken Lindt & Spruengli AG, <br> Participation Certificates, NVS<br>| &nbsp;&nbsp; 389 | 4875571 |
| Chocoladefabriken Lindt & Spruengli AG, Registered | &nbsp;&nbsp; 43 | 5324620 |
| Cie. Financiere Richemont SA, Class A, Registered | &nbsp;&nbsp; 198639 | 30298667 |
| Clariant AG, Registered | &nbsp;&nbsp; 82614 | 1225459 |
| Comet Holding AG, Registered | &nbsp;&nbsp; 3039 | 1217668 |
| Daetwyler Holding AG, Bearer | &nbsp;&nbsp; 3179 | 661333 |
| DKSH Holding AG | &nbsp;&nbsp; 14421 | 1130350 |
| dormakaba Holding AG | &nbsp;&nbsp; 1332 | 806739 |
| Dottikon Es Holding AG<sup>(a)</sup> | &nbsp;&nbsp; 768 | 220981 |
| EFG International AG | &nbsp;&nbsp; 34579 | 494253 |
| Emmi AG, Registered | &nbsp;&nbsp; 905 | 951655 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 2759 | 2307175 |
| Flughafen Zurich AG, Registered | &nbsp;&nbsp; 7336 | 1697797 |
| Forbo Holding AG, Registered | &nbsp;&nbsp; 460 | 495494 |
| Galenica AG<sup>(c)</sup> | &nbsp;&nbsp; 18347 | 1595789 |
| Geberit AG, Registered | &nbsp;&nbsp; 12182 | 7755867 |
| Georg Fischer AG | &nbsp;&nbsp; 30946 | 2273788 |
| Givaudan SA, Registered | &nbsp;&nbsp; 3466 | 17004385 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 13449 | 2006309 |
| Holcim AG | &nbsp;&nbsp; 195318 | 18252546 |
| Huber + Suhner AG, Registered | &nbsp;&nbsp; 7988 | 699466 |
| Implenia AG, Registered | &nbsp;&nbsp; 7936 | 287600 |
| Inficon Holding AG, Registered | &nbsp;&nbsp; 794 | 1183910 |
| Interroll Holding AG, Registered | &nbsp;&nbsp; 281 | 907969 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 74003 | 4050008 |
| Kardex Holding AG, Registered | &nbsp;&nbsp; 3172 | 966001 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 17740 | 5499233 |
| Landis+Gyr Group AG | &nbsp;&nbsp; 11648 | 1055089 |
| LEM Holding SA, Registered | &nbsp;&nbsp; 133 | 194246 |
| Logitech International SA, Registered | &nbsp;&nbsp; 60137 | 5416908 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 27634 | 18401734 |
| Medacta Group SA<sup>(c)</sup> | &nbsp;&nbsp; 956 | 137233 |
| Mobimo Holding AG, Registered | &nbsp;&nbsp; 3345 | 1001854 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Europe ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Nestle SA, Registered | &nbsp;&nbsp; 986844 | $99959987 |
| Novartis AG, Registered | &nbsp;&nbsp; 728852 | 81360163 |
| OC Oerlikon Corp. AG, Registered | &nbsp;&nbsp; 84069 | 472901 |
| Partners Group Holding AG | &nbsp;&nbsp; 8444 | 11365985 |
| PSP Swiss Property AG, Registered | &nbsp;&nbsp; 17452 | 2332127 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 11935 | 4197681 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 259214 | 83922965 |
| Sandoz Group AG | &nbsp;&nbsp; 150421 | 6524248 |
| Schindler Holding AG, Participation Certificates, NVS | &nbsp;&nbsp; 15705 | 4203505 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 8256 | 2167526 |
| Schweiter Technologies AG, NVS | &nbsp;&nbsp; 862 | 404607 |
| Sensirion Holding AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 3990 | 374310 |
| SFS Group AG | &nbsp;&nbsp; 8018 | 1170926 |
| SGS SA | &nbsp;&nbsp; 53300 | 5827464 |
| Siegfried Holding AG, Registered | &nbsp;&nbsp; 1711 | 1994261 |
| SIG Group AG | &nbsp;&nbsp; 109506 | 2299635 |
| Sika AG, Registered | &nbsp;&nbsp; 57287 | 17393257 |
| Softwareone Holding AG | &nbsp;&nbsp; 45464 | 907709 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 18494 | 5669076 |
| Stadler Rail AG | &nbsp;&nbsp; 20720 | 634141 |
| Straumann Holding AG | &nbsp;&nbsp; 41338 | 5330606 |
| Sulzer AG, Registered | &nbsp;&nbsp; 6963 | 1035174 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 10732 | 2210308 |
| Swatch Group AG (The), Registered | &nbsp;&nbsp; 18570 | 752968 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 11106 | 8504019 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 26587 | 2664557 |
| Swiss Re AG | &nbsp;&nbsp; 110312 | 13599632 |
| Swisscom AG, Registered | &nbsp;&nbsp; 9561 | 5851734 |
| Swissquote Group Holding SA, Registered | &nbsp;&nbsp; 4744 | 1513086 |
| Tecan Group AG, Registered | &nbsp;&nbsp; 5387 | 2011593 |
| Temenos AG, Registered | &nbsp;&nbsp; 23445 | 1627985 |
| u-blox Holding AG | &nbsp;&nbsp; 2380 | 217735 |
| UBS Group AG, Registered | &nbsp;&nbsp; 1223788 | 37081599 |
| Valiant Holding AG, Registered | &nbsp;&nbsp; 7907 | 898123 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 9837 | 4929674 |
| Vontobel Holding AG, Registered | &nbsp;&nbsp; 12180 | 798063 |
| Ypsomed Holding AG, Registered | &nbsp;&nbsp; 1791 | 823074 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 54004 | 29689786 |
|  |  | 667899086 |
| **United Kingdom — 24.0%** | **United Kingdom — 24.0%** | **United Kingdom — 24.0%** |
| 3i Group PLC | &nbsp;&nbsp; 363338 | 14617346 |
| 4imprint Group PLC | &nbsp;&nbsp; 11641 | 908982 |
| abrdn PLC | &nbsp;&nbsp; 672594 | 1470954 |
| Admiral Group PLC | &nbsp;&nbsp; 97271 | 3447245 |
| Airtel Africa PLC<sup>(c)</sup> | &nbsp;&nbsp; 435357 | 638291 |
| AJ Bell PLC | &nbsp;&nbsp; 108675 | 641256 |
| Alphawave IP Group PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 187058 | 374093 |
| Anglo American PLC | &nbsp;&nbsp; 467649 | 14177396 |
| Antofagasta PLC | &nbsp;&nbsp; 146713 | 3820288 |
| Ascential PLC | &nbsp;&nbsp; 104676 | 768373 |
| Ashmore Group PLC | &nbsp;&nbsp; 163368 | 362533 |
| Ashtead Group PLC | &nbsp;&nbsp; 160728 | 11599322 |
| Ashtead Technology Holdings PLC | &nbsp;&nbsp; 17761 | 198416 |
| Associated British Foods PLC | &nbsp;&nbsp; 126451 | 4036981 |
| Assura PLC | &nbsp;&nbsp; 1328704 | 697285 |
| AstraZeneca PLC | &nbsp;&nbsp; 573663 | 91138285 |
| Auction Technology Group PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 71446 | 466575 |
| Auto Trader Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 344904 | 3612821 |
| Aviva PLC | &nbsp;&nbsp; 1054265 | 6791446 |
| B&M European Value Retail SA | &nbsp;&nbsp; 366275 | 2205699 |
| Babcock International Group PLC | &nbsp;&nbsp; 96910 | 662901 |
| BAE Systems PLC | &nbsp;&nbsp; 1117343 | 18635163 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Balfour Beatty PLC | &nbsp;&nbsp; 254034 | $1375528 |
| Bank of Georgia Group PLC | &nbsp;&nbsp; 12855 | 755735 |
| Barclays PLC | &nbsp;&nbsp; 5523983 | 16518398 |
| Barratt Developments PLC | &nbsp;&nbsp; 369553 | 2500725 |
| Beazley PLC | &nbsp;&nbsp; 248973 | 2188349 |
| Bellway PLC | &nbsp;&nbsp; 44024 | 1616469 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 39029 | 2547906 |
| Big Yellow Group PLC | &nbsp;&nbsp; 78938 | 1227597 |
| Bodycote PLC | &nbsp;&nbsp; 71295 | 637710 |
| BP PLC | &nbsp;&nbsp; 6228989 | 36820243 |
| Breedon Group PLC | &nbsp;&nbsp; 125940 | 700573 |
| British American Tobacco PLC | &nbsp;&nbsp; 737343 | 26161689 |
| British Land Co. PLC (The) | &nbsp;&nbsp; 337825 | 1790573 |
| Britvic PLC | &nbsp;&nbsp; 102700 | 1677126 |
| BT Group PLC | &nbsp;&nbsp; 2316124 | 4200294 |
| Bunzl PLC | &nbsp;&nbsp; 123764 | 5185632 |
| Burberry Group PLC | &nbsp;&nbsp; 143498 | 1436102 |
| Burford Capital Ltd. | &nbsp;&nbsp; 76781 | 1082803 |
| Bytes Technology Group PLC | &nbsp;&nbsp; 87235 | 568351 |
| C&C Group PLC | &nbsp;&nbsp; 189593 | 389970 |
| Carnival PLC<sup>(a)</sup> | &nbsp;&nbsp; 56016 | 860663 |
| Centamin PLC | &nbsp;&nbsp; 576181 | 941067 |
| Centrica PLC | &nbsp;&nbsp; 2044708 | 3486174 |
| Chemring Group PLC | &nbsp;&nbsp; 100482 | 534783 |
| Clarkson PLC | &nbsp;&nbsp; 10807 | 630045 |
| Close Brothers Group PLC | &nbsp;&nbsp; 49632 | 326538 |
| Coats Group PLC | &nbsp;&nbsp; 656945 | 755860 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 79957 | 2917624 |
| Compass Group PLC | &nbsp;&nbsp; 630026 | 19401655 |
| Computacenter PLC | &nbsp;&nbsp; 35339 | 1223650 |
| ConvaTec Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 613683 | 1849013 |
| Craneware PLC | &nbsp;&nbsp; 6695 | 197955 |
| Cranswick PLC | &nbsp;&nbsp; 23075 | 1413493 |
| Crest Nicholson Holdings PLC | &nbsp;&nbsp; 116575 | 397394 |
| Croda International PLC | &nbsp;&nbsp; 49244 | 2560400 |
| Currys PLC<sup>(a)</sup> | &nbsp;&nbsp; 470771 | 492330 |
| CVS Group PLC | &nbsp;&nbsp; 32501 | 476311 |
| Darktrace PLC<sup>(a)</sup> | &nbsp;&nbsp; 160303 | 1219127 |
| DCC PLC | &nbsp;&nbsp; 36906 | 2542637 |
| Deliveroo PLC, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 406061 | 688534 |
| Derwent London PLC | &nbsp;&nbsp; 38248 | 1129920 |
| Diageo PLC | &nbsp;&nbsp; 817901 | 25448963 |
| Diploma PLC | &nbsp;&nbsp; 49585 | 2835033 |
| Direct Line Insurance Group PLC | &nbsp;&nbsp; 483959 | 1174105 |
| DiscoverIE Group PLC | &nbsp;&nbsp; 14645 | 127466 |
| Domino's Pizza Group PLC | &nbsp;&nbsp; 143081 | 594949 |
| Dowlais Group PLC | &nbsp;&nbsp; 605699 | 498981 |
| Dr. Martens PLC | &nbsp;&nbsp; 229201 | 209552 |
| Drax Group PLC | &nbsp;&nbsp; 145601 | 1217897 |
| DS Smith PLC | &nbsp;&nbsp; 505888 | 2957447 |
| Dunelm Group PLC | &nbsp;&nbsp; 55157 | 874845 |
| easyJet PLC | &nbsp;&nbsp; 113496 | 657511 |
| Elementis PLC | &nbsp;&nbsp; 247426 | 508290 |
| Endeavour Mining PLC | &nbsp;&nbsp; 68997 | 1541222 |
| Energean PLC | &nbsp;&nbsp; 60464 | 776518 |
| Entain PLC | &nbsp;&nbsp; 242743 | 1783825 |
| Essentra PLC | &nbsp;&nbsp; 150237 | 330265 |
| Experian PLC | &nbsp;&nbsp; 337818 | 15938256 |
| Firstgroup PLC | &nbsp;&nbsp; 301553 | 679958 |
| Flutter Entertainment PLC<sup>(a)</sup> | &nbsp;&nbsp; 65455 | 12947375 |
| Frasers Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 54901 | 633657 |
| Future PLC | &nbsp;&nbsp; 55309 | 796029 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Europe ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Games Workshop Group PLC | &nbsp;&nbsp; 13550 | $1797191 |
| Gamma Communications PLC | &nbsp;&nbsp; 33322 | 636559 |
| GB Group PLC | &nbsp;&nbsp; 109594 | 490574 |
| Genuit Group PLC | &nbsp;&nbsp; 119532 | 785492 |
| Genus PLC | &nbsp;&nbsp; 28944 | 678292 |
| Glencore PLC | &nbsp;&nbsp; 3853666 | 21383366 |
| Grafton Group PLC | &nbsp;&nbsp; 83199 | 1159069 |
| Grainger PLC | &nbsp;&nbsp; 300285 | 932711 |
| Great Portland Estates PLC | &nbsp;&nbsp; 157602 | 711161 |
| Greencore Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 165584 | 383586 |
| Greggs PLC | &nbsp;&nbsp; 42698 | 1719516 |
| GSK PLC | &nbsp;&nbsp; 1537627 | 29858844 |
| Haleon PLC | &nbsp;&nbsp; 2563989 | 11500521 |
| Halma PLC | &nbsp;&nbsp; 138354 | 4735659 |
| Hammerson PLC | &nbsp;&nbsp; 1867000 | 691715 |
| Harbour Energy PLC | &nbsp;&nbsp; 232170 | 933808 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 137860 | 1958451 |
| Hays PLC | &nbsp;&nbsp; 611852 | 741521 |
| Helios Towers PLC<sup>(a)</sup> | &nbsp;&nbsp; 286509 | 464516 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 61351 | 1500023 |
| Hill & Smith PLC | &nbsp;&nbsp; 38574 | 1140247 |
| Hiscox Ltd. | &nbsp;&nbsp; 133558 | 2181102 |
| Hochschild Mining PLC<sup>(a)</sup> | &nbsp;&nbsp; 148051 | 345517 |
| Howden Joinery Group PLC | &nbsp;&nbsp; 197466 | 2387401 |
| HSBC Holdings PLC | &nbsp;&nbsp; 6985458 | 63526479 |
| Hunting PLC | &nbsp;&nbsp; 39545 | 232227 |
| IG Group Holdings PLC | &nbsp;&nbsp; 155665 | 1879920 |
| IMI PLC | &nbsp;&nbsp; 94467 | 2300925 |
| Imperial Brands PLC | &nbsp;&nbsp; 307801 | 8483562 |
| Inchcape PLC | &nbsp;&nbsp; 144030 | 1566390 |
| Indivior PLC, NVS<sup>(a)</sup> | &nbsp;&nbsp; 44139 | 606301 |
| Informa PLC | &nbsp;&nbsp; 522791 | 5842281 |
| IntegraFin Holdings PLC | &nbsp;&nbsp; 126730 | 627233 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 59919 | 6036577 |
| Intermediate Capital Group PLC | &nbsp;&nbsp; 104677 | 2954690 |
| International Distributions Services PLC<sup>(a)</sup> | &nbsp;&nbsp; 303487 | 1346543 |
| International Workplace Group PLC | &nbsp;&nbsp; 295158 | 655339 |
| Intertek Group PLC | &nbsp;&nbsp; 58729 | 3813741 |
| Investec PLC | &nbsp;&nbsp; 260450 | 2062251 |
| IP Group PLC | &nbsp;&nbsp; 605595 | 324644 |
| ITV PLC | &nbsp;&nbsp; 1319439 | 1357434 |
| J D Wetherspoon PLC<sup>(a)</sup> | &nbsp;&nbsp; 43708 | 419450 |
| J Sainsbury PLC | &nbsp;&nbsp; 597670 | 2119455 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 972527 | 1645365 |
| JET2 PLC | &nbsp;&nbsp; 63020 | 1156907 |
| John Wood Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 288656 | 757007 |
| Johnson Matthey PLC | &nbsp;&nbsp; 65006 | 1369687 |
| Johnson Service Group PLC | &nbsp;&nbsp; 76898 | 160938 |
| JTC PLC<sup>(c)</sup> | &nbsp;&nbsp; 70577 | 954006 |
| Just Group PLC | &nbsp;&nbsp; 447543 | 694561 |
| Kainos Group PLC | &nbsp;&nbsp; 36158 | 510383 |
| Keller Group PLC | &nbsp;&nbsp; 26964 | 516487 |
| Keywords Studios PLC | &nbsp;&nbsp; 32288 | 991207 |
| Kier Group PLC | &nbsp;&nbsp; 73692 | 153372 |
| Kingfisher PLC | &nbsp;&nbsp; 715120 | 2542344 |
| Lancashire Holdings Ltd. | &nbsp;&nbsp; 98347 | 801566 |
| Land Securities Group PLC | &nbsp;&nbsp; 254563 | 2081666 |
| Learning Technologies Group PLC | &nbsp;&nbsp; 288775 | 267289 |
| Legal & General Group PLC | &nbsp;&nbsp; 2144593 | 6396518 |
| Liontrust Asset Management PLC | &nbsp;&nbsp; 33306 | 285643 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 23202789 | 17725767 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 167056 | 20335002 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| LondonMetric Property PLC | &nbsp;&nbsp; 735124 | $1900645 |
| M&G PLC | &nbsp;&nbsp; 822579 | 2246171 |
| Man Group PLC/Jersey | &nbsp;&nbsp; 465808 | 1466496 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 758808 | 3204864 |
| Marshalls PLC | &nbsp;&nbsp; 106699 | 477341 |
| Melrose Industries PLC | &nbsp;&nbsp; 490903 | 3717269 |
| Mitchells & Butlers PLC<sup>(a)</sup> | &nbsp;&nbsp; 145347 | 582250 |
| Mitie Group PLC | &nbsp;&nbsp; 571386 | 890269 |
| Molten Ventures PLC<sup>(a)</sup> | &nbsp;&nbsp; 50414 | 242299 |
| Mondi PLC, NVS | &nbsp;&nbsp; 163171 | 3190264 |
| MONY Group PLC | &nbsp;&nbsp; 262961 | 802727 |
| Morgan Advanced Materials PLC | &nbsp;&nbsp; 49741 | 217943 |
| Morgan Sindall Group PLC | &nbsp;&nbsp; 19864 | 733708 |
| National Grid PLC | &nbsp;&nbsp; 1772671 | 22491961 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 2414630 | 11456173 |
| NCC Group PLC | &nbsp;&nbsp; 130715 | 247991 |
| Network International Holdings PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 176450 | 889195 |
| Next 15 Group PLC | &nbsp;&nbsp; 49355 | 541214 |
| Next PLC | &nbsp;&nbsp; 44209 | 5167135 |
| Ninety One PLC | &nbsp;&nbsp; 199297 | 443843 |
| NMC Health PLC, NVS<sup>(e)</sup> | &nbsp;&nbsp; 42009 | 1 |
| Ocado Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 260916 | 1364377 |
| OSB Group PLC | &nbsp;&nbsp; 169530 | 1121694 |
| Oxford Instruments PLC | &nbsp;&nbsp; 27544 | 888771 |
| Oxford Nanopore Technologies PLC<sup>(a)</sup> | &nbsp;&nbsp; 290247 | 450738 |
| Pagegroup PLC | &nbsp;&nbsp; 132434 | 729608 |
| Paragon Banking Group PLC | &nbsp;&nbsp; 90008 | 930079 |
| Pearson PLC | &nbsp;&nbsp; 238419 | 3234862 |
| Penno Group PLC | &nbsp;&nbsp; 107124 | 856442 |
| Persimmon PLC | &nbsp;&nbsp; 118024 | 2406778 |
| Pets at Home Group PLC | &nbsp;&nbsp; 199898 | 788411 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 272002 | 1915735 |
| Playtech PLC<sup>(a)</sup> | &nbsp;&nbsp; 93470 | 678906 |
| Plus500 Ltd. | &nbsp;&nbsp; 35363 | 1066513 |
| Premier Foods PLC | &nbsp;&nbsp; 240233 | 555897 |
| Primary Health Properties PLC | &nbsp;&nbsp; 670962 | 799229 |
| Prudential PLC | &nbsp;&nbsp; 1000025 | 9024612 |
| QinetiQ Group PLC | &nbsp;&nbsp; 207942 | 1291811 |
| Quilter PLC<sup>(c)</sup> | &nbsp;&nbsp; 517289 | 889106 |
| Rathbones Group PLC | &nbsp;&nbsp; 24829 | 614672 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 259180 | 13942238 |
| Redrow PLC | &nbsp;&nbsp; 103130 | 989379 |
| RELX PLC | &nbsp;&nbsp; 694253 | 32766996 |
| Renewi PLC | &nbsp;&nbsp; 29342 | 254608 |
| Renishaw PLC | &nbsp;&nbsp; 14558 | 708736 |
| Rentokil Initial PLC | &nbsp;&nbsp; 937033 | 5721669 |
| RHI Magnesita NV | &nbsp;&nbsp; 10470 | 494128 |
| Rightmove PLC | &nbsp;&nbsp; 292329 | 2171961 |
| Rio Tinto PLC | &nbsp;&nbsp; 418367 | 27207618 |
| Rolls-Royce Holdings PLC<sup>(a)</sup> | &nbsp;&nbsp; 3133669 | 18144577 |
| Rotork PLC | &nbsp;&nbsp; 309503 | 1440450 |
| RS Group PLC | &nbsp;&nbsp; 169835 | 1784254 |
| RWS Holdings PLC | &nbsp;&nbsp; 119799 | 293722 |
| Safestore Holdings PLC | &nbsp;&nbsp; 87114 | 905236 |
| Sage Group PLC (The) | &nbsp;&nbsp; 367789 | 5141159 |
| Savills PLC | &nbsp;&nbsp; 65046 | 1066990 |
| Schroders PLC | &nbsp;&nbsp; 270242 | 1365661 |
| Segro PLC | &nbsp;&nbsp; 458846 | 5400896 |
| Serco Group PLC | &nbsp;&nbsp; 488848 | 1201219 |
| Severn Trent PLC | &nbsp;&nbsp; 95151 | 3145660 |
| Shaftesbury Capital PLC | &nbsp;&nbsp; 636700 | 1246591 |
| Shell PLC | &nbsp;&nbsp; 2367362 | 86323205 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Europe ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Sirius Real Estate Ltd. | &nbsp;&nbsp; 585397 | $713657 |
| Smith & Nephew PLC | &nbsp;&nbsp; 313359 | 4516388 |
| Smiths Group PLC | &nbsp;&nbsp; 126734 | 2910973 |
| Softcat PLC | &nbsp;&nbsp; 53364 | 1116424 |
| Spectris PLC | &nbsp;&nbsp; 39667 | 1556027 |
| Spirax Group PLC | &nbsp;&nbsp; 26394 | 3081421 |
| Spire Healthcare Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 185967 | 612319 |
| Spirent Communications PLC | &nbsp;&nbsp; 261977 | 585159 |
| SSE PLC | &nbsp;&nbsp; 402050 | 9730333 |
| SSP Group PLC | &nbsp;&nbsp; 348202 | 818871 |
| St. James's Place PLC | &nbsp;&nbsp; 216442 | 1906587 |
| Standard Chartered PLC | &nbsp;&nbsp; 828702 | 8186155 |
| Supermarket Income REIT PLC | &nbsp;&nbsp; 549067 | 528829 |
| Tate & Lyle PLC | &nbsp;&nbsp; 151685 | 1282116 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 1324744 | 2715957 |
| TBC Bank Group PLC | &nbsp;&nbsp; 17073 | 680394 |
| Telecom Plus PLC | &nbsp;&nbsp; 29743 | 726847 |
| Tesco PLC | &nbsp;&nbsp; 2542934 | 10844265 |
| TP ICAP Group PLC | &nbsp;&nbsp; 277997 | 791595 |
| Trainline PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 185820 | 813629 |
| Travis Perkins PLC | &nbsp;&nbsp; 86446 | 1062243 |
| Tritax Big Box REIT PLC | &nbsp;&nbsp; 936147 | 1989848 |
| Trustpilot Group PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 120539 | 323089 |
| Unilever PLC | &nbsp;&nbsp; 924421 | 56809992 |
| UNITE Group PLC (The) | &nbsp;&nbsp; 144942 | 1776588 |
| United Utilities Group PLC | &nbsp;&nbsp; 244643 | 3251214 |
| Vesuvius PLC | &nbsp;&nbsp; 86018 | 533650 |
| Victrex PLC | &nbsp;&nbsp; 37934 | 536427 |
| Virgin Money U.K. PLC | &nbsp;&nbsp; 491853 | 1360184 |
| Vistry Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 127526 | 2271409 |
| Vodafone Group PLC | &nbsp;&nbsp; 8349692 | 7813220 |
| Volution Group PLC | &nbsp;&nbsp; 71346 | 502455 |
| Watches of Switzerland Group PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 105602 | 553796 |
| Weir Group PLC (The) | &nbsp;&nbsp; 100977 | 2635984 |
| WH Smith PLC | &nbsp;&nbsp; 61805 | 1051609 |
| Whitbread PLC | &nbsp;&nbsp; 67686 | 2536192 |
| Wickes Group PLC | &nbsp;&nbsp; 174018 | 337800 |
| Wise PLC, Class A<sup>(a)</sup> | &nbsp;&nbsp; 232107 | 2137145 |
| Workspace Group PLC | &nbsp;&nbsp; 59604 | 469904 |
| WPP PLC | &nbsp;&nbsp; 395182 | 3811956 |
| Yellow Cake PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 91656 | 655941 |
| Zigup PLC | &nbsp;&nbsp; 118968 | 649415 |
|  |  | 1111271700 |
| **Total Common Stocks — 98.8%** <br>**(Cost: $4,435,415,639)** | **Total Common Stocks — 98.8%** <br>**(Cost: $4,435,415,639)** | 4577572081 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.6%** | **Germany — 0.6%** | **Germany — 0.6%** |
| Bayerische Motoren Werke AG, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 21115 | 1810222 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Dr Ing hc F Porsche AG, Preference <br> Shares, NVS<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 42499 | $3200204 |
| Fuchs Petrolub SE, Preference Shares, NVS | &nbsp;&nbsp; 25500 | 1108004 |
| Henkel AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 63452 | 5427796 |
| Jungheinrich AG, Preference Shares, NVS | &nbsp;&nbsp; 19902 | 629995 |
| Porsche Automobil Holding SE, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 59455 | 2657607 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 9860 | 2796511 |
| Schaeffler AG, Preference Shares, NVS | &nbsp;&nbsp; 58734 | 321686 |
| Sixt SE, Preference Shares, NVS | &nbsp;&nbsp; 5581 | 309477 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 75000 | 8370223 |
|  |  | 26631725 |
| **Italy — 0.0%** | **Italy — 0.0%** | **Italy — 0.0%** |
| Danieli & C Officine Meccaniche SpA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 6470 | 186521 |
| **Total Preferred Stocks — 0.6%** <br>**(Cost: $40,126,882)** | **Total Preferred Stocks — 0.6%** <br>**(Cost: $40,126,882)** | 26818246 |
| **Total Long-Term Investments — 99.4%** <br>**(Cost: $4,475,542,521)** | **Total Long-Term Investments — 99.4%** <br>**(Cost: $4,475,542,521)** | 4604390327 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 30974191 | 30986580 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 420000 | 420000 |
| **Total Short-Term Securities — 0.7%** <br>**(Cost: $31,393,005)** | **Total Short-Term Securities — 0.7%** <br>**(Cost: $31,393,005)** | 31406580 |
| **Total Investments — 100.1%** <br>**(Cost: $4,506,935,526)** | **Total Investments — 100.1%** <br>**(Cost: $4,506,935,526)** | 4635796907 |
| **Liabilities in Excess of Other Assets — (0.1)%** | **Liabilities in Excess of Other Assets — (0.1)%** | (5443523)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $4630353384 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(e)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Europe ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $36832231 | $— | &nbsp;&nbsp; $(5848822 )<sup>(a)</sup><br>| &nbsp;&nbsp; $8875 | $(5704)<br>| $30986580 | 30974191 | $413480 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 410000 | 10000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 420000 | 420000 | 125475 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $8875 | $(5704)<br>| $31406580 |  | $538955 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Euro STOXX 50 Index | &nbsp;&nbsp; 281 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $14902 | &nbsp;&nbsp; $(42797)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 86 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 9248 | &nbsp;&nbsp; 173964 |
|  |  |  |  | &nbsp;&nbsp; $131167 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $173964 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $173964 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $42797 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $42797 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2081700 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2081700 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(536114)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(536114)<br>|

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Europe ETF**

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $27789603 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $91441047 | &nbsp;&nbsp; $4486131033 | &nbsp;&nbsp; $1 | &nbsp;&nbsp; $4577572081 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 26818246 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26818246 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 31406580 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 31406580 |
|  | &nbsp;&nbsp; $122847627 | &nbsp;&nbsp; $4512949279 | &nbsp;&nbsp; $1 | &nbsp;&nbsp; $4635796907 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $173964 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $173964 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (42797)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (42797)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $131167 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $131167 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 6.8%** | **Australia — 6.8%** | **Australia — 6.8%** |
| Abacus Group | &nbsp;&nbsp; 214246 | $154810 |
| Abacus Storage King<sup>(a)</sup> | &nbsp;&nbsp; 879079 | 735097 |
| AGL Energy Ltd. | &nbsp;&nbsp; 442477 | 3007874 |
| ALS Ltd. | &nbsp;&nbsp; 374611 | 3792648 |
| AMP Ltd. | &nbsp;&nbsp; 2287755 | 1777226 |
| Ampol Ltd. | &nbsp;&nbsp; 146617 | 3211638 |
| Ansell Ltd. | &nbsp;&nbsp; 113242 | 2027472 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 1883741 | 35838246 |
| APA Group | &nbsp;&nbsp; 767943 | 3980369 |
| ARB Corp. Ltd. | &nbsp;&nbsp; 73076 | 2019195 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 373857 | 13314580 |
| ASX Ltd. | &nbsp;&nbsp; 117876 | 5022246 |
| Atlas Arteria Ltd. | &nbsp;&nbsp; 846547 | 2907541 |
| AUB Group Ltd. | &nbsp;&nbsp; 91589 | 1935338 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 1008073 | 2457956 |
| Bank of Queensland Ltd. | &nbsp;&nbsp; 485560 | 2006522 |
| Bapcor Ltd. | &nbsp;&nbsp; 332116 | 1116722 |
| Beach Energy Ltd. | &nbsp;&nbsp; 1635304 | 1588994 |
| Bega Cheese Ltd. | &nbsp;&nbsp; 289371 | 845713 |
| Bellevue Gold Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1502924 | 1356886 |
| Bendigo & Adelaide Bank Ltd. | &nbsp;&nbsp; 410428 | 3359985 |
| BHP Group Ltd. | &nbsp;&nbsp; 3201392 | 88918485 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 348870 | 5065994 |
| Brambles Ltd. | &nbsp;&nbsp; 884008 | 9012172 |
| Breville Group Ltd. | &nbsp;&nbsp; 101395 | 1948334 |
| BWP Trust | &nbsp;&nbsp; 505907 | 1186723 |
| CAR Group Ltd. | &nbsp;&nbsp; 249402 | 5703952 |
| Challenger Ltd. | &nbsp;&nbsp; 350906 | 1617305 |
| Champion Iron Ltd. | &nbsp;&nbsp; 323245 | 1328301 |
| Charter Hall Group | &nbsp;&nbsp; 362638 | 3028366 |
| Charter Hall Long Wale REIT | &nbsp;&nbsp; 692628 | 1620112 |
| Charter Hall Retail REIT | &nbsp;&nbsp; 549040 | 1256215 |
| Cleanaway Waste Management Ltd. | &nbsp;&nbsp; 1739948 | 3216390 |
| Cochlear Ltd. | &nbsp;&nbsp; 43549 | 9840144 |
| Coles Group Ltd. | &nbsp;&nbsp; 825223 | 9780269 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 1058296 | 95363162 |
| Computershare Ltd. | &nbsp;&nbsp; 383853 | 6923175 |
| Corporate Travel Management Ltd. | &nbsp;&nbsp; 107918 | 953804 |
| Credit Corp. Group Ltd. | &nbsp;&nbsp; 61934 | 710468 |
| Cromwell Property Group | &nbsp;&nbsp; 933136 | 254086 |
| CSL Ltd. | &nbsp;&nbsp; 306972 | 62303980 |
| De Grey Mining Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1964241 | 1574984 |
| Deterra Royalties Ltd. | &nbsp;&nbsp; 518685 | 1356091 |
| Dexus | &nbsp;&nbsp; 675754 | 3115602 |
| Domino's Pizza Enterprises Ltd. | &nbsp;&nbsp; 44566 | 958533 |
| Downer EDI Ltd. | &nbsp;&nbsp; 513236 | 1675214 |
| Eagers Automotive Ltd. | &nbsp;&nbsp; 166395 | 1160042 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 916584 | 3296652 |
| Evolution Mining Ltd. | &nbsp;&nbsp; 1180021 | 3057404 |
| Flight Centre Travel Group Ltd. | &nbsp;&nbsp; 149021 | 2169729 |
| Fortescue Ltd. | &nbsp;&nbsp; 1071537 | 13332951 |
| Gold Road Resources Ltd. | &nbsp;&nbsp; 1472106 | 1646015 |
| Goodman Group | &nbsp;&nbsp; 1101336 | 25425538 |
| GPT Group (The) | &nbsp;&nbsp; 1258507 | 3833436 |
| GrainCorp Ltd., Class A | &nbsp;&nbsp; 215305 | 1272111 |
| Growthpoint Properties Australia Ltd. | &nbsp;&nbsp; 240639 | 367674 |
| Harvey Norman Holdings Ltd. | &nbsp;&nbsp; 558544 | 1754173 |
| Healius Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 595182 | 588835 |
| HUB24 Ltd. | &nbsp;&nbsp; 66824 | 2176390 |
| IDP Education Ltd. | &nbsp;&nbsp; 186306 | 1829650 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| IGO Ltd. | &nbsp;&nbsp; 407310 | $1491613 |
| Iluka Resources Ltd. | &nbsp;&nbsp; 280380 | 1115454 |
| Incitec Pivot Ltd. | &nbsp;&nbsp; 1423425 | 2748046 |
| Ingenia Communities Group | &nbsp;&nbsp; 380047 | 1310533 |
| Insignia Financial Ltd. | &nbsp;&nbsp; 320055 | 579870 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 1509155 | 7301146 |
| IPH Ltd. | &nbsp;&nbsp; 239930 | 962996 |
| IRESS Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 147347 | 1028988 |
| James Hardie Industries PLC<sup>(b)</sup> | &nbsp;&nbsp; 282343 | 10142783 |
| JB Hi-Fi Ltd. | &nbsp;&nbsp; 87960 | 4016136 |
| Lendlease Corp. Ltd. | &nbsp;&nbsp; 443397 | 1830278 |
| Liontown Resources Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1525445 | 955838 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 1643371 | 5355026 |
| Lynas Rare Earths Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 531870 | 2174512 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 228206 | 31407002 |
| Magellan Financial Group Ltd. | &nbsp;&nbsp; 144768 | 971946 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 1715829 | 4466891 |
| Megaport Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 165976 | 1201571 |
| Metcash Ltd. | &nbsp;&nbsp; 799324 | 1914760 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 115190 | 4119513 |
| Mirvac Group | &nbsp;&nbsp; 2460812 | 3464841 |
| Monadelphous Group Ltd. | &nbsp;&nbsp; 96909 | 824054 |
| Nanosonics Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 281994 | 583331 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 1970140 | 49759159 |
| National Storage REIT | &nbsp;&nbsp; 1149049 | 1864700 |
| Neuren Pharmaceuticals Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 83395 | 1057024 |
| New Hope Corp. Ltd. | &nbsp;&nbsp; 424653 | 1354298 |
| NEXTDC Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 359409 | 3957895 |
| nib holdings Ltd. | &nbsp;&nbsp; 339352 | 1670883 |
| Nine Entertainment Co. Holdings Ltd. | &nbsp;&nbsp; 735453 | 700405 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 784159 | 7277880 |
| Nufarm Ltd./Australia | &nbsp;&nbsp; 355936 | 1085152 |
| Orica Ltd. | &nbsp;&nbsp; 290794 | 3421738 |
| Origin Energy Ltd. | &nbsp;&nbsp; 1114046 | 7643995 |
| Orora Ltd. | &nbsp;&nbsp; 953486 | 1275807 |
| Paladin Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 287031 | 2153220 |
| Perpetual Ltd. | &nbsp;&nbsp; 89382 | 1298356 |
| Perseus Mining Ltd. | &nbsp;&nbsp; 1142016 | 1902810 |
| PEXA Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 111353 | 1010459 |
| Pilbara Minerals Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1894453 | 3661719 |
| PolyNovo Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 740959 | 1306335 |
| Premier Investments Ltd. | &nbsp;&nbsp; 87656 | 1905884 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 40248 | 3797365 |
| Qantas Airways Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 667408 | 2827449 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 918029 | 10834624 |
| Qube Holdings Ltd. | &nbsp;&nbsp; 837144 | 2096379 |
| Ramelius Resources Ltd. | &nbsp;&nbsp; 1287010 | 1642446 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 119726 | 3646091 |
| REA Group Ltd. | &nbsp;&nbsp; 36944 | 4967108 |
| Red 5 Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5123739 | 1314166 |
| Reece Ltd. | &nbsp;&nbsp; 181682 | 3292338 |
| Region RE Ltd. | &nbsp;&nbsp; 1076911 | 1603535 |
| Regis Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 917188 | 1011989 |
| Reliance Worldwide Corp. Ltd. | &nbsp;&nbsp; 673358 | 2269768 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 236238 | 18153023 |
| Sandfire Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 419906 | 2398346 |
| Santos Ltd. | &nbsp;&nbsp; 2170292 | 11313529 |
| Scentre Group | &nbsp;&nbsp; 3205033 | 7308845 |
| SEEK Ltd. | &nbsp;&nbsp; 216424 | 3134163 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 125468 | 3219125 |
| Silex Systems Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 230754 | 710259 |
| Sims Ltd. | &nbsp;&nbsp; 102886 | 686913 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 298520 | $5410127 |
| South32 Ltd. | &nbsp;&nbsp; 3024223 | 6065668 |
| Star Entertainment Group Ltd. (The)<sup>(b)</sup> | &nbsp;&nbsp; 1851963 | 707821 |
| Steadfast Group Ltd. | &nbsp;&nbsp; 877330 | 3724166 |
| Stockland | &nbsp;&nbsp; 1512574 | 4568593 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 782416 | 9103504 |
| Tabcorp Holdings Ltd. | &nbsp;&nbsp; 1678980 | 710408 |
| Technology One Ltd. | &nbsp;&nbsp; 167295 | 2259898 |
| Telix Pharmaceuticals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 218866 | 2747639 |
| Telstra Group Ltd. | &nbsp;&nbsp; 2540851 | 6566229 |
| Transurban Group | &nbsp;&nbsp; 1910671 | 16305275 |
| Treasury Wine Estates Ltd. | &nbsp;&nbsp; 518837 | 4194548 |
| Ventia Services Group Pty Ltd. | &nbsp;&nbsp; 715822 | 2060886 |
| Vicinity Ltd. | &nbsp;&nbsp; 2361933 | 3275055 |
| Viva Energy Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 948171 | 2022592 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 124570 | 2899416 |
| Waypoint REIT Ltd. | &nbsp;&nbsp; 634337 | 1053524 |
| Webjet Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 375350 | 2195780 |
| Weebit Nano Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 192206 | 297118 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 720319 | 34764178 |
| West African Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 66018 | 64895 |
| Westpac Banking Corp. | &nbsp;&nbsp; 2201724 | 43027852 |
| Whitehaven Coal Ltd. | &nbsp;&nbsp; 506321 | 2556140 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 110106 | 6899365 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 1186140 | 21510418 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 762201 | 17197670 |
| Worley Ltd. | &nbsp;&nbsp; 250446 | 2484156 |
| Xero Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 92253 | 8405831 |
|  |  | 956660579 |
| **Austria — 0.3%** | **Austria — 0.3%** | **Austria — 0.3%** |
| Andritz AG | &nbsp;&nbsp; 35344 | 2264146 |
| BAWAG Group AG<sup>(c)</sup> | &nbsp;&nbsp; 40108 | 2929085 |
| CA Immobilien Anlagen AG<sup>(a)</sup> | &nbsp;&nbsp; 31806 | 1039546 |
| Erste Group Bank AG | &nbsp;&nbsp; 211112 | 10981257 |
| Immofinanz AG<sup>(b)</sup> | &nbsp;&nbsp; 45534 | 1350961 |
| Lenzing AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 13020 | 453443 |
| Oesterreichische Post AG<sup>(a)</sup> | &nbsp;&nbsp; 49076 | 1619931 |
| OMV AG | &nbsp;&nbsp; 103906 | 4347437 |
| Raiffeisen Bank International AG | &nbsp;&nbsp; 131339 | 2560495 |
| Schoeller-Bleckmann Oilfield Equipment AG<sup>(a)</sup> | &nbsp;&nbsp; 14399 | 572281 |
| UNIQA Insurance Group AG | &nbsp;&nbsp; 72319 | 619154 |
| Verbund AG | &nbsp;&nbsp; 47433 | 3808661 |
| Vienna Insurance Group AG Wiener <br> Versicherung Gruppe<br>| &nbsp;&nbsp; 23099 | 743993 |
| voestalpine AG | &nbsp;&nbsp; 71121 | 1824030 |
| Wienerberger AG | &nbsp;&nbsp; 94339 | 3344743 |
|  |  | 38459163 |
| **Belgium — 0.9%** | **Belgium — 0.9%** | **Belgium — 0.9%** |
| Ackermans & van Haaren NV | &nbsp;&nbsp; 18056 | 3464214 |
| Aedifica SA | &nbsp;&nbsp; 26623 | 1692227 |
| Ageas SA/NV | &nbsp;&nbsp; 99226 | 4737171 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 563868 | 33479191 |
| Argenx SE<sup>(b)</sup> | &nbsp;&nbsp; 37967 | 19412004 |
| Barco NV | &nbsp;&nbsp; 54670 | 706179 |
| Bekaert SA | &nbsp;&nbsp; 27762 | 1136761 |
| bpost SA | &nbsp;&nbsp; 52590 | 150257 |
| Cofinimmo SA | &nbsp;&nbsp; 23074 | 1483484 |
| Colruyt Group NV | &nbsp;&nbsp; 40818 | 1957921 |
| Deme Group NV | &nbsp;&nbsp; 7962 | 1434041 |
| D'ieteren Group | &nbsp;&nbsp; 15850 | 3642618 |
| Elia Group SA/NV | &nbsp;&nbsp; 16530 | 1716809 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Belgium (continued)** | **Belgium (continued)** | **Belgium (continued)** |
| Fagron | &nbsp;&nbsp; 66742 | $1373339 |
| Galapagos NV<sup>(b)</sup> | &nbsp;&nbsp; 32927 | 880265 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 63793 | 4760814 |
| KBC Ancora | &nbsp;&nbsp; 30920 | 1503602 |
| KBC Group NV | &nbsp;&nbsp; 154805 | 11973535 |
| Kinepolis Group NV<sup>(a)</sup> | &nbsp;&nbsp; 8350 | 338179 |
| Lotus Bakeries NV | &nbsp;&nbsp; 238 | 2586058 |
| Melexis NV | &nbsp;&nbsp; 14546 | 1268080 |
| Montea NV | &nbsp;&nbsp; 13338 | 1156880 |
| Ontex Group NV<sup>(b)</sup> | &nbsp;&nbsp; 40068 | 376556 |
| Proximus SADP | &nbsp;&nbsp; 96306 | 696497 |
| Retail Estates NV | &nbsp;&nbsp; 8523 | 581466 |
| Shurgard Self Storage Ltd. | &nbsp;&nbsp; 22735 | 888860 |
| Sofina SA | &nbsp;&nbsp; 7065 | 1669298 |
| Solvay SA | &nbsp;&nbsp; 46550 | 1638770 |
| Syensqo SA | &nbsp;&nbsp; 46319 | 4095886 |
| UCB SA | &nbsp;&nbsp; 80943 | 13525113 |
| Umicore SA | &nbsp;&nbsp; 132939 | 1825795 |
| VGP NV | &nbsp;&nbsp; 13474 | 1459861 |
| Warehouses De Pauw CVA | &nbsp;&nbsp; 101585 | 2751853 |
|  |  | 130363584 |
| **Canada — 10.5%** | **Canada — 10.5%** | **Canada — 10.5%** |
| Advantage Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 174227 | 1215229 |
| Agnico Eagle Mines Ltd. | &nbsp;&nbsp; 321290 | 24790514 |
| Air Canada<sup>(a)(b)</sup> | &nbsp;&nbsp; 154773 | 1783536 |
| Alamos Gold Inc., Class A | &nbsp;&nbsp; 264804 | 4512974 |
| Algonquin Power & Utilities Corp. | &nbsp;&nbsp; 477860 | 2983488 |
| Alimentation Couche-Tard Inc. | &nbsp;&nbsp; 495766 | 30561434 |
| Allied Properties REIT | &nbsp;&nbsp; 71557 | 857761 |
| AltaGas Ltd. | &nbsp;&nbsp; 224594 | 5355184 |
| Altus Group Ltd. | &nbsp;&nbsp; 31032 | 1298235 |
| ARC Resources Ltd. | &nbsp;&nbsp; 414231 | 7167623 |
| Aritzia Inc.<sup>(b)</sup> | &nbsp;&nbsp; 58991 | 1936387 |
| Atco Ltd., Class I, NVS | &nbsp;&nbsp; 47469 | 1472565 |
| Athabasca Oil Corp.<sup>(b)</sup> | &nbsp;&nbsp; 452311 | 1854257 |
| AtkinsRealis Group Inc. | &nbsp;&nbsp; 110527 | 4761631 |
| ATS Corp.<sup>(b)</sup> | &nbsp;&nbsp; 56345 | 1693227 |
| B2Gold Corp. | &nbsp;&nbsp; 768513 | 2304454 |
| Badger Infrastructure Solutions Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 45536 | 1286281 |
| Ballard Power Systems Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 169389 | 384013 |
| Bank of Montreal | &nbsp;&nbsp; 457788 | 38611822 |
| Bank of Nova Scotia (The) | &nbsp;&nbsp; 765838 | 35761109 |
| Barrick Gold Corp. | &nbsp;&nbsp; 1088895 | 20174508 |
| Bausch Health Companies Inc.<sup>(b)</sup> | &nbsp;&nbsp; 193978 | 1168940 |
| Baytex Energy Corp. | &nbsp;&nbsp; 577543 | 2145943 |
| BCE Inc. | &nbsp;&nbsp; 46072 | 1554031 |
| Birchcliff Energy Ltd. | &nbsp;&nbsp; 253508 | 1099854 |
| Bitfarms Ltd./Canada<sup>(a)(b)</sup> | &nbsp;&nbsp; 296294 | 774723 |
| BlackBerry Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 347252 | 837540 |
| Boardwalk REIT | &nbsp;&nbsp; 28151 | 1590394 |
| Bombardier Inc., Class B<sup>(b)</sup> | &nbsp;&nbsp; 55671 | 3757233 |
| Boralex Inc., Class A | &nbsp;&nbsp; 61058 | 1515118 |
| Boyd Group Services Inc. | &nbsp;&nbsp; 13079 | 2192827 |
| Brookfield Asset Management Ltd. | &nbsp;&nbsp; 219356 | 9574036 |
| Brookfield Corp., Class A | &nbsp;&nbsp; 881783 | 43001810 |
| Brookfield Infrastructure Corp., Class A | &nbsp;&nbsp; 66033 | 2571205 |
| Brookfield Reinsurance Ltd. | &nbsp;&nbsp; 33085 | 1610816 |
| Brookfield Renewable Corp., Class A | &nbsp;&nbsp; 81929 | 2303020 |
| BRP Inc. | &nbsp;&nbsp; 24629 | 1784405 |
| CAE Inc.<sup>(b)</sup> | &nbsp;&nbsp; 217999 | 3966345 |
| Cameco Corp. | &nbsp;&nbsp; 278849 | 12691755 |
| Canada Goose Holdings Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 42229 | 487240 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Canadian Apartment Properties REIT | &nbsp;&nbsp; 57102 | $1985221 |
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp; 585649 | 30286705 |
| Canadian National Railway Co. | &nbsp;&nbsp; 348893 | 40389359 |
| Canadian Natural Resources Ltd. | &nbsp;&nbsp; 1349847 | 47926339 |
| Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp; 587308 | 49251092 |
| Canadian Tire Corp. Ltd., Class A, NVS | &nbsp;&nbsp; 34037 | 3495285 |
| Canadian Utilities Ltd., Class A, NVS | &nbsp;&nbsp; 76835 | 1799207 |
| Canadian Western Bank | &nbsp;&nbsp; 96176 | 3323476 |
| Canfor Corp.<sup>(b)</sup> | &nbsp;&nbsp; 36740 | 421513 |
| Capital Power Corp. | &nbsp;&nbsp; 56410 | 1743392 |
| Capstone Copper Corp.<sup>(b)</sup> | &nbsp;&nbsp; 316296 | 2125975 |
| CCL Industries Inc., Class B, NVS | &nbsp;&nbsp; 108337 | 5893740 |
| Celestica Inc., NVS<sup>(b)</sup> | &nbsp;&nbsp; 78405 | 4112053 |
| Cenovus Energy Inc. | &nbsp;&nbsp; 894915 | 18032474 |
| Centerra Gold Inc. | &nbsp;&nbsp; 170572 | 1144024 |
| CGI Inc.<sup>(b)</sup> | &nbsp;&nbsp; 129637 | 14781989 |
| Choice Properties REIT | &nbsp;&nbsp; 185537 | 1862560 |
| CI Financial Corp. | &nbsp;&nbsp; 154723 | 1870370 |
| Cogeco Communications Inc. | &nbsp;&nbsp; 7079 | 324558 |
| Colliers International Group Inc. | &nbsp;&nbsp; 24048 | 3240945 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 12902 | 40708980 |
| Converge Technology Solutions Corp. | &nbsp;&nbsp; 234349 | 714598 |
| Crombie REIT | &nbsp;&nbsp; 52696 | 520605 |
| Cronos Group Inc.<sup>(b)</sup> | &nbsp;&nbsp; 274969 | 677141 |
| Definity Financial Corp. | &nbsp;&nbsp; 54342 | 1890054 |
| Denison Mines Corp.<sup>(b)</sup> | &nbsp;&nbsp; 806138 | 1588162 |
| Descartes Systems Group Inc. (The)<sup>(b)</sup> | &nbsp;&nbsp; 52699 | 5359790 |
| Dollarama Inc. | &nbsp;&nbsp; 177247 | 16616144 |
| Dream Industrial REIT | &nbsp;&nbsp; 147805 | 1443097 |
| Dundee Precious Metals Inc. | &nbsp;&nbsp; 136611 | 1154710 |
| Dye & Durham Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 64046 | 614181 |
| Eldorado Gold Corp.<sup>(b)</sup> | &nbsp;&nbsp; 163120 | 2765827 |
| Element Fleet Management Corp. | &nbsp;&nbsp; 242312 | 4635107 |
| Emera Inc. | &nbsp;&nbsp; 171068 | 6175373 |
| Empire Co. Ltd., NVS | &nbsp;&nbsp; 132584 | 3505100 |
| Enbridge Inc. | &nbsp;&nbsp; 1335583 | 49983394 |
| Endeavour Silver Corp.<sup>(b)</sup> | &nbsp;&nbsp; 182146 | 820590 |
| Enghouse Systems Ltd. | &nbsp;&nbsp; 31439 | 699758 |
| EQB Inc. | &nbsp;&nbsp; 23351 | 1629910 |
| Equinox Gold Corp.<sup>(b)</sup> | &nbsp;&nbsp; 302961 | 1700610 |
| ERO Copper Corp.<sup>(b)</sup> | &nbsp;&nbsp; 78594 | 1536985 |
| Fairfax Financial Holdings Ltd. | &nbsp;&nbsp; 14036 | 16552954 |
| Finning International Inc. | &nbsp;&nbsp; 92051 | 2638220 |
| First Capital Real Estate Investment Trust | &nbsp;&nbsp; 95424 | 1131417 |
| First Majestic Silver Corp. | &nbsp;&nbsp; 181343 | 1121696 |
| First Quantum Minerals Ltd. | &nbsp;&nbsp; 440636 | 5393654 |
| FirstService Corp. | &nbsp;&nbsp; 31361 | 5468101 |
| Fission Uranium Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 935194 | 785735 |
| Fortis Inc./Canada | &nbsp;&nbsp; 302882 | 12662405 |
| Fortuna Mining Corp.<sup>(b)</sup> | &nbsp;&nbsp; 255817 | 1232161 |
| Franco-Nevada Corp. | &nbsp;&nbsp; 119645 | 15418273 |
| Freehold Royalties Ltd. | &nbsp;&nbsp; 122645 | 1257852 |
| George Weston Ltd. | &nbsp;&nbsp; 38813 | 6010934 |
| GFL Environmental Inc. | &nbsp;&nbsp; 143826 | 5580530 |
| Gibson Energy Inc. | &nbsp;&nbsp; 154536 | 2525138 |
| Gildan Activewear Inc. | &nbsp;&nbsp; 96723 | 3938556 |
| goeasy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 12396 | 1824317 |
| Granite REIT | &nbsp;&nbsp; 27972 | 1503091 |
| Great-West Lifeco Inc. | &nbsp;&nbsp; 180537 | 5422713 |
| H&R Real Estate Investment Trust | &nbsp;&nbsp; 100848 | 701951 |
| Hammond Power Solutions Inc. | &nbsp;&nbsp; 8804 | 760996 |
| Hudbay Minerals Inc. | &nbsp;&nbsp; 263460 | 2198283 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Hydro One Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 230645 | $7228486 |
| iA Financial Corp. Inc. | &nbsp;&nbsp; 67346 | 4553958 |
| IAMGOLD Corp.<sup>(b)</sup> | &nbsp;&nbsp; 468131 | 1929284 |
| IGM Financial Inc. | &nbsp;&nbsp; 52234 | 1480023 |
| Imperial Oil Ltd. | &nbsp;&nbsp; 119196 | 8539222 |
| Innergex Renewable Energy Inc. | &nbsp;&nbsp; 104878 | 720887 |
| Intact Financial Corp. | &nbsp;&nbsp; 110605 | 20099804 |
| Interfor Corp.<sup>(b)</sup> | &nbsp;&nbsp; 58486 | 768009 |
| InterRent REIT | &nbsp;&nbsp; 89574 | 827196 |
| Ivanhoe Mines Ltd., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 413901 | 5411156 |
| Keyera Corp. | &nbsp;&nbsp; 136842 | 3860498 |
| Killam Apartment REIT | &nbsp;&nbsp; 71233 | 956033 |
| Kinaxis Inc.<sup>(b)</sup> | &nbsp;&nbsp; 12929 | 1590642 |
| Kinross Gold Corp. | &nbsp;&nbsp; 834317 | 7583876 |
| Knight Therapeutics Inc.<sup>(b)</sup> | &nbsp;&nbsp; 108965 | 451439 |
| Labrador Iron Ore Royalty Corp. | &nbsp;&nbsp; 40861 | 907989 |
| Laurentian Bank of Canada | &nbsp;&nbsp; 28845 | 558661 |
| Lightspeed Commerce Inc.<sup>(b)</sup> | &nbsp;&nbsp; 117430 | 1572651 |
| Linamar Corp. | &nbsp;&nbsp; 41318 | 2061037 |
| Lithium Americas Argentina Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 89291 | 269687 |
| Lithium Americas Corp.<sup>(b)</sup> | &nbsp;&nbsp; 135773 | 367791 |
| Loblaw Companies Ltd. | &nbsp;&nbsp; 106091 | 13082239 |
| Lundin Mining Corp. | &nbsp;&nbsp; 496051 | 5008475 |
| MAG Silver Corp.<sup>(b)</sup> | &nbsp;&nbsp; 82483 | 1129724 |
| Magna International Inc. | &nbsp;&nbsp; 168162 | 7462634 |
| Manulife Financial Corp. | &nbsp;&nbsp; 1159052 | 30876712 |
| Maple Leaf Foods Inc. | &nbsp;&nbsp; 45125 | 823961 |
| MEG Energy Corp.<sup>(b)</sup> | &nbsp;&nbsp; 147857 | 3063911 |
| Methanex Corp. | &nbsp;&nbsp; 51899 | 2523059 |
| Metro Inc./CN | &nbsp;&nbsp; 159612 | 9505160 |
| MTY Food Group Inc. | &nbsp;&nbsp; 21315 | 703373 |
| National Bank of Canada | &nbsp;&nbsp; 211747 | 17710892 |
| NexGen Energy Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 295535 | 1969306 |
| NFI Group Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 64200 | 797472 |
| NGEx Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 122367 | 812737 |
| North West Co. Inc. (The) | &nbsp;&nbsp; 40418 | 1308868 |
| Northland Power Inc. | &nbsp;&nbsp; 169777 | 2839352 |
| NorthWest Healthcare Properties REIT | &nbsp;&nbsp; 116602 | 423117 |
| Novagold Resources Inc.<sup>(b)</sup> | &nbsp;&nbsp; 187815 | 896462 |
| Nutrien Ltd. | &nbsp;&nbsp; 325301 | 16683855 |
| Nuvei Corp.<sup>(c)</sup> | &nbsp;&nbsp; 51069 | 1687443 |
| NuVista Energy Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 145667 | 1410617 |
| OceanaGold Corp. | &nbsp;&nbsp; 584153 | 1438540 |
| Onex Corp. | &nbsp;&nbsp; 41695 | 2857179 |
| Open Text Corp. | &nbsp;&nbsp; 189456 | 5971915 |
| Osisko Gold Royalties Ltd. | &nbsp;&nbsp; 135738 | 2380196 |
| Pan American Silver Corp. | &nbsp;&nbsp; 232211 | 5338339 |
| Paramount Resources Ltd., Class A | &nbsp;&nbsp; 67374 | 1461523 |
| Parex Resources Inc. | &nbsp;&nbsp; 84899 | 1273500 |
| Parkland Corp. | &nbsp;&nbsp; 116875 | 3278578 |
| Pason Systems Inc. | &nbsp;&nbsp; 77944 | 923597 |
| Pembina Pipeline Corp. | &nbsp;&nbsp; 356027 | 13798577 |
| Peyto Exploration & Development Corp. | &nbsp;&nbsp; 159537 | 1705549 |
| Power Corp. of Canada | &nbsp;&nbsp; 356006 | 10303842 |
| PrairieSky Royalty Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 138257 | 2778859 |
| Premium Brands Holdings Corp., Class A | &nbsp;&nbsp; 27873 | 1885185 |
| Primo Water Corp. | &nbsp;&nbsp; 101804 | 2233472 |
| Prinmaris REIT | &nbsp;&nbsp; 104307 | 1028980 |
| Quebecor Inc., Class B | &nbsp;&nbsp; 116046 | 2563577 |
| RB Global Inc. | &nbsp;&nbsp; 117645 | 9372233 |
| Restaurant Brands International Inc. | &nbsp;&nbsp; 185548 | 12991653 |
| Richelieu Hardware Ltd. | &nbsp;&nbsp; 45395 | 1340824 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| RioCan REIT | &nbsp;&nbsp; 93945 | $1216627 |
| Rogers Communications Inc., Class B, NVS | &nbsp;&nbsp; 232287 | 8982583 |
| Royal Bank of Canada | &nbsp;&nbsp; 889802 | 99430451 |
| Russel Metals Inc. | &nbsp;&nbsp; 44281 | 1287393 |
| Sandstorm Gold Ltd. | &nbsp;&nbsp; 260432 | 1495836 |
| Saputo Inc. | &nbsp;&nbsp; 171888 | 3950318 |
| Seabridge Gold Inc.<sup>(b)</sup> | &nbsp;&nbsp; 106199 | 1762227 |
| Secure Energy Services Inc. | &nbsp;&nbsp; 180767 | 1596023 |
| Shopify Inc., Class A<sup>(b)</sup> | &nbsp;&nbsp; 767342 | 46997023 |
| Sienna Senior Living Inc. | &nbsp;&nbsp; 146671 | 1648741 |
| SilverCrest Metals Inc.<sup>(b)</sup> | &nbsp;&nbsp; 206349 | 2019176 |
| SmartCentres Real Estate Investment Trust | &nbsp;&nbsp; 96929 | 1683524 |
| Spin Master Corp.<sup>(c)</sup> | &nbsp;&nbsp; 24033 | 550236 |
| SSR Mining Inc. | &nbsp;&nbsp; 129169 | 716644 |
| Stantec Inc. | &nbsp;&nbsp; 71732 | 6311522 |
| Stella-Jones Inc. | &nbsp;&nbsp; 51439 | 3460811 |
| Sun Life Financial Inc. | &nbsp;&nbsp; 364641 | 18101977 |
| Suncor Energy Inc. | &nbsp;&nbsp; 818067 | 32671723 |
| Superior Plus Corp. | &nbsp;&nbsp; 138961 | 803179 |
| Tamarack Valley Energy Ltd. | &nbsp;&nbsp; 623224 | 1850736 |
| TC Energy Corp. | &nbsp;&nbsp; 646809 | 27462386 |
| Teck Resources Ltd., Class B | &nbsp;&nbsp; 288856 | 14159833 |
| TELUS Corp. | &nbsp;&nbsp; 298483 | 4818880 |
| TELUS Corp., NVS | &nbsp;&nbsp; 13383 | 216063 |
| TFI International Inc. | &nbsp;&nbsp; 52080 | 8106698 |
| Thomson Reuters Corp. | &nbsp;&nbsp; 98887 | 16025760 |
| TMX Group Ltd. | &nbsp;&nbsp; 201147 | 6113155 |
| Topaz Energy Corp. | &nbsp;&nbsp; 96633 | 1819065 |
| Torex Gold Resources Inc.<sup>(b)</sup> | &nbsp;&nbsp; 77959 | 1236028 |
| Toromont Industries Ltd. | &nbsp;&nbsp; 50202 | 4668770 |
| Toronto-Dominion Bank (The) | &nbsp;&nbsp; 1120457 | 66165110 |
| Tourmaline Oil Corp. | &nbsp;&nbsp; 206092 | 9068257 |
| TransAlta Corp. | &nbsp;&nbsp; 164756 | 1241055 |
| Transcontinental Inc., Class A | &nbsp;&nbsp; 43280 | 510965 |
| Veren Inc. | &nbsp;&nbsp; 303598 | 2370468 |
| Vermilion Energy Inc. | &nbsp;&nbsp; 138219 | 1486656 |
| Wesdome Gold Mines Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 148914 | 1433431 |
| West Fraser Timber Co. Ltd. | &nbsp;&nbsp; 29173 | 2586934 |
| Wheaton Precious Metals Corp. | &nbsp;&nbsp; 285201 | 17052361 |
| Whitecap Resources Inc. | &nbsp;&nbsp; 379801 | 2926942 |
| Winpak Ltd. | &nbsp;&nbsp; 27570 | 949719 |
| WSP Global Inc. | &nbsp;&nbsp; 78369 | 13017888 |
|  |  | 1475629827 |
| **Denmark — 3.2%** | **Denmark — 3.2%** | **Denmark — 3.2%** |
| ALK-Abello A/S<sup>(b)</sup> | &nbsp;&nbsp; 104531 | 2356117 |
| Ambu A/S, Class B<sup>(b)</sup> | &nbsp;&nbsp; 117167 | 2379234 |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 1674 | 2719305 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 3065 | 5070546 |
| Bavarian Nordic A/S<sup>(b)</sup> | &nbsp;&nbsp; 59023 | 1590885 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 59570 | 7193491 |
| Chemometec A/S | &nbsp;&nbsp; 18265 | 1012582 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 81028 | 10533680 |
| D/S Norden A/S | &nbsp;&nbsp; 22109 | 956378 |
| Danske Bank A/S | &nbsp;&nbsp; 432693 | 13232827 |
| Demant A/S<sup>(b)</sup> | &nbsp;&nbsp; 61777 | 2368494 |
| DFDS A/S | &nbsp;&nbsp; 28318 | 776733 |
| DSV A/S | &nbsp;&nbsp; 116384 | 21350018 |
| FLSmidth & Co. A/S | &nbsp;&nbsp; 34981 | 1784494 |
| Genmab A/S<sup>(b)</sup> | &nbsp;&nbsp; 42287 | 11944877 |
| GN Store Nord A/S<sup>(b)</sup> | &nbsp;&nbsp; 99956 | 2626566 |
| H Lundbeck A/S | &nbsp;&nbsp; 240791 | 1506471 |
| H Lundbeck A/S, Class A | &nbsp;&nbsp; 54614 | 293769 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| ISS A/S<sup>(a)</sup> | &nbsp;&nbsp; 121296 | $2217116 |
| Jyske Bank A/S, Registered | &nbsp;&nbsp; 37578 | 3063467 |
| Netcompany Group A/S<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 33600 | 1430077 |
| NKT A/S<sup>(b)</sup> | &nbsp;&nbsp; 35466 | 3192573 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 2072746 | 274624098 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 234933 | 14955184 |
| Orsted A/S<sup>(b)(c)</sup> | &nbsp;&nbsp; 126421 | 7535198 |
| Pandora A/S | &nbsp;&nbsp; 55884 | 8760002 |
| Ringkjoebing Landbobank A/S | &nbsp;&nbsp; 14157 | 2505704 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 5599 | 2474828 |
| Royal Unibrew A/S<sup>(b)</sup> | &nbsp;&nbsp; 31468 | 2470653 |
| Schouw & Co. A/S | &nbsp;&nbsp; 11641 | 960601 |
| Svitzer A/S, NVS<sup>(b)</sup> | &nbsp;&nbsp; 12047 | 461673 |
| Sydbank A/S | &nbsp;&nbsp; 43101 | 2323673 |
| Topdanmark A/S | &nbsp;&nbsp; 30150 | 1642304 |
| Tryg A/S | &nbsp;&nbsp; 204224 | 4471301 |
| Vestas Wind Systems A/S<sup>(b)</sup> | &nbsp;&nbsp; 652673 | 16151723 |
| Zealand Pharma A/S<sup>(b)</sup> | &nbsp;&nbsp; 49412 | 6656844 |
|  |  | 445593486 |
| **Finland — 0.9%** | **Finland — 0.9%** | **Finland — 0.9%** |
| Cargotec OYJ, Class B | &nbsp;&nbsp; 29468 | 1502061 |
| Citycon OYJ | &nbsp;&nbsp; 47363 | 208580 |
| Elisa OYJ | &nbsp;&nbsp; 86927 | 4047444 |
| Fortum OYJ | &nbsp;&nbsp; 289782 | 4455973 |
| Huhtamaki OYJ | &nbsp;&nbsp; 80025 | 3242568 |
| Kalmar OYJ<sup>(b)</sup> | &nbsp;&nbsp; 29468 | 871282 |
| Kemira OYJ | &nbsp;&nbsp; 77112 | 1744198 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 185848 | 3361749 |
| Kojamo OYJ<sup>(b)</sup> | &nbsp;&nbsp; 88487 | 875114 |
| Kone OYJ, Class B | &nbsp;&nbsp; 207576 | 10599781 |
| Konecranes OYJ | &nbsp;&nbsp; 39498 | 2759065 |
| Mandatum OYJ | &nbsp;&nbsp; 278069 | 1287884 |
| Metsa Board OYJ, Class B | &nbsp;&nbsp; 139206 | 1063674 |
| Metso OYJ | &nbsp;&nbsp; 445146 | 4522921 |
| Neste OYJ | &nbsp;&nbsp; 258753 | 5222367 |
| Nokia OYJ | &nbsp;&nbsp; 3458400 | 13591168 |
| Nokian Renkaat OYJ | &nbsp;&nbsp; 105481 | 962436 |
| Nordea Bank Abp | &nbsp;&nbsp; 2019715 | 23634170 |
| Orion OYJ, Class B | &nbsp;&nbsp; 80484 | 3699299 |
| Outokumpu OYJ | &nbsp;&nbsp; 221586 | 798930 |
| QT Group OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 17380 | 1546640 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 286519 | 12559587 |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 359371 | 4492538 |
| TietoEVRY OYJ | &nbsp;&nbsp; 66891 | 1356441 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 360075 | 11909846 |
| Valmet OYJ | &nbsp;&nbsp; 86123 | 2439058 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 323945 | 6694270 |
| YIT OYJ<sup>(a)</sup> | &nbsp;&nbsp; 104274 | 261801 |
|  |  | 129710845 |
| **France — 9.0%** | **France — 9.0%** | **France — 9.0%** |
| Accor SA | &nbsp;&nbsp; 122216 | 4703253 |
| Aeroports de Paris SA | &nbsp;&nbsp; 18840 | 2475318 |
| Air France-KLM, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 78178 | 695154 |
| Air Liquide SA | &nbsp;&nbsp; 363514 | 66326209 |
| Airbus SE | &nbsp;&nbsp; 374141 | 56617481 |
| Alstom SA<sup>(b)</sup> | &nbsp;&nbsp; 239121 | 4685002 |
| Alten SA | &nbsp;&nbsp; 23139 | 2544871 |
| Amundi SA<sup>(c)</sup> | &nbsp;&nbsp; 36067 | 2632194 |
| Aperam SA | &nbsp;&nbsp; 28002 | 760912 |
| ArcelorMittal SA | &nbsp;&nbsp; 322515 | 7343887 |
| Arkema SA | &nbsp;&nbsp; 41443 | 3739934 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| AXA SA | &nbsp;&nbsp; 1139734 | $40015835 |
| BioMerieux | &nbsp;&nbsp; 28929 | 3052775 |
| BNP Paribas SA | &nbsp;&nbsp; 652609 | 44712669 |
| Bollore SE | &nbsp;&nbsp; 597005 | 3716260 |
| Bouygues SA | &nbsp;&nbsp; 142450 | 4918228 |
| Bureau Veritas SA | &nbsp;&nbsp; 192524 | 6023924 |
| Capgemini SE | &nbsp;&nbsp; 99170 | 19687570 |
| Carrefour SA | &nbsp;&nbsp; 387348 | 5778159 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 293609 | 25187464 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 435188 | 17228587 |
| Coface SA | &nbsp;&nbsp; 73747 | 1116496 |
| Covivio SA/France | &nbsp;&nbsp; 35602 | 1832691 |
| Credit Agricole SA | &nbsp;&nbsp; 656956 | 9969612 |
| Danone SA | &nbsp;&nbsp; 401670 | 26094510 |
| Dassault Aviation SA | &nbsp;&nbsp; 16733 | 3368922 |
| Dassault Systemes SE | &nbsp;&nbsp; 415339 | 15744988 |
| Edenred SE | &nbsp;&nbsp; 158321 | 6592291 |
| Eiffage SA | &nbsp;&nbsp; 51114 | 5086953 |
| Elior Group SA<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 119008 | 413024 |
| Elis SA | &nbsp;&nbsp; 144687 | 3345936 |
| Engie SA | &nbsp;&nbsp; 1133181 | 17813788 |
| Esker SA | &nbsp;&nbsp; 6287 | 1380562 |
| EssilorLuxottica SA | &nbsp;&nbsp; 185659 | 42486143 |
| Eurazeo SE | &nbsp;&nbsp; 25137 | 1977659 |
| Eurofins Scientific SE | &nbsp;&nbsp; 83069 | 4918006 |
| Euronext NV<sup>(c)</sup> | &nbsp;&nbsp; 55821 | 5643667 |
| Eutelsat Communications SACA<sup>(a)(b)</sup> | &nbsp;&nbsp; 140849 | 727941 |
| Fnac Darty SA | &nbsp;&nbsp; 15728 | 466815 |
| Forvia SE | &nbsp;&nbsp; 112742 | 1320540 |
| Gaztransport Et Technigaz SA | &nbsp;&nbsp; 22138 | 3261925 |
| Gecina SA | &nbsp;&nbsp; 29150 | 2889864 |
| Getlink SE | &nbsp;&nbsp; 193247 | 3443633 |
| Hermes International SCA | &nbsp;&nbsp; 20162 | 44060717 |
| ICADE | &nbsp;&nbsp; 35147 | 781175 |
| Imerys SA | &nbsp;&nbsp; 21923 | 744875 |
| Ipsen SA | &nbsp;&nbsp; 27232 | 3057613 |
| IPSOS SA | &nbsp;&nbsp; 27224 | 1680188 |
| JCDecaux SE<sup>(b)</sup> | &nbsp;&nbsp; 83328 | 1737181 |
| Kering SA | &nbsp;&nbsp; 46972 | 14426874 |
| Klepierre SA | &nbsp;&nbsp; 142342 | 4075901 |
| La Francaise des Jeux SAEM<sup>(c)</sup> | &nbsp;&nbsp; 63693 | 2471207 |
| Legrand SA | &nbsp;&nbsp; 168345 | 18189157 |
| L'Oreal SA | &nbsp;&nbsp; 151635 | 65574168 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 174523 | 123101928 |
| Neoen SA<sup>(c)</sup> | &nbsp;&nbsp; 57286 | 2388710 |
| Nexans SA | &nbsp;&nbsp; 17820 | 2303167 |
| Nexity SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 29138 | 328408 |
| Opmobility | &nbsp;&nbsp; 41178 | 431708 |
| Orange SA | &nbsp;&nbsp; 1178727 | 13080646 |
| Pernod Ricard SA | &nbsp;&nbsp; 128253 | 17161166 |
| Pluxee NV, NVS<sup>(b)</sup> | &nbsp;&nbsp; 64287 | 1506878 |
| Publicis Groupe SA | &nbsp;&nbsp; 143737 | 15005631 |
| Remy Cointreau SA | &nbsp;&nbsp; 15235 | 1202128 |
| Renault SA | &nbsp;&nbsp; 126116 | 6111851 |
| Rexel SA | &nbsp;&nbsp; 126282 | 3208433 |
| Rubis SCA | &nbsp;&nbsp; 69674 | 2182149 |
| Safran SA | &nbsp;&nbsp; 217137 | 47703400 |
| Sanofi SA | &nbsp;&nbsp; 720190 | 74246169 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 17955 | 3582931 |
| Schneider Electric SE | &nbsp;&nbsp; 345111 | 83183887 |
| SCOR SE | &nbsp;&nbsp; 82437 | 1764340 |
| SEB SA | &nbsp;&nbsp; 17021 | 1703255 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| SES SA, Class A | &nbsp;&nbsp; 254748 | $1377482 |
| Societe BIC SA | &nbsp;&nbsp; 16978 | 1065227 |
| Societe Generale SA | &nbsp;&nbsp; 446009 | 11568119 |
| Sodexo SA | &nbsp;&nbsp; 56772 | 5376723 |
| SOITEC<sup>(b)</sup> | &nbsp;&nbsp; 17976 | 2317671 |
| Sopra Steria Group SACA | &nbsp;&nbsp; 8316 | 1541413 |
| SPIE SA | &nbsp;&nbsp; 104465 | 4038083 |
| STMicroelectronics NV | &nbsp;&nbsp; 433526 | 14333598 |
| Technip Energies NV | &nbsp;&nbsp; 92068 | 2345568 |
| Teleperformance SE | &nbsp;&nbsp; 36968 | 4759088 |
| Thales SA | &nbsp;&nbsp; 64950 | 10324026 |
| TotalEnergies SE | &nbsp;&nbsp; 1357043 | 91554657 |
| Trigano SA | &nbsp;&nbsp; 9580 | 1123286 |
| Ubisoft Entertainment SA<sup>(b)</sup> | &nbsp;&nbsp; 64797 | 1331152 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 74860 | 5598122 |
| Valeo SE | &nbsp;&nbsp; 147993 | 1691140 |
| Vallourec SACA<sup>(a)(b)</sup> | &nbsp;&nbsp; 121536 | 1965070 |
| Valneva SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 110175 | 392638 |
| Veolia Environnement SA | &nbsp;&nbsp; 426108 | 13385630 |
| Verallia SA<sup>(c)</sup> | &nbsp;&nbsp; 52139 | 1533689 |
| Vinci SA | &nbsp;&nbsp; 314312 | 35868636 |
| Virbac SACA | &nbsp;&nbsp; 4092 | 1557716 |
| Vivendi SE | &nbsp;&nbsp; 455346 | 4858885 |
| Wendel SE | &nbsp;&nbsp; 20765 | 1989527 |
| Worldline SA/France<sup>(b)(c)</sup> | &nbsp;&nbsp; 154698 | 1755339 |
|  |  | 1263389978 |
| **Germany — 6.7%** | **Germany — 6.7%** | **Germany — 6.7%** |
| adidas AG | &nbsp;&nbsp; 102994 | 25810014 |
| AIXTRON SE<sup>(a)</sup> | &nbsp;&nbsp; 76068 | 1776154 |
| Allianz SE, Registered | &nbsp;&nbsp; 248240 | 69920616 |
| Amadeus Fire AG | &nbsp;&nbsp; 7922 | 814033 |
| Aroundtown SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 636358 | 1357593 |
| Aurubis AG | &nbsp;&nbsp; 26542 | 2069884 |
| BASF SE | &nbsp;&nbsp; 557749 | 25967197 |
| Bayer AG, Registered | &nbsp;&nbsp; 614858 | 18292448 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 200216 | 18569858 |
| Bechtle AG | &nbsp;&nbsp; 39707 | 1754794 |
| Befesa SA<sup>(c)</sup> | &nbsp;&nbsp; 31625 | 981847 |
| Beiersdorf AG | &nbsp;&nbsp; 62420 | 9060077 |
| Brenntag SE | &nbsp;&nbsp; 94508 | 6722951 |
| CANCOM SE | &nbsp;&nbsp; 26983 | 957282 |
| Carl Zeiss Meditec AG, Bearer | &nbsp;&nbsp; 27253 | 1864502 |
| Ceconomy AG<sup>(b)</sup> | &nbsp;&nbsp; 146808 | 442801 |
| Commerzbank AG | &nbsp;&nbsp; 675331 | 11009565 |
| CompuGroup Medical SE & Co. KgaA | &nbsp;&nbsp; 19164 | 332364 |
| Continental AG | &nbsp;&nbsp; 69658 | 4270300 |
| Covestro AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 120814 | 7112180 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 45561 | 4013184 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 340876 | 13160862 |
| Delivery Hero SE, Class A<sup>(b)(c)</sup> | &nbsp;&nbsp; 113389 | 2522699 |
| Dermapharm Holding SE | &nbsp;&nbsp; 21386 | 819228 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 1235108 | 19225042 |
| Deutsche Boerse AG | &nbsp;&nbsp; 118311 | 24226359 |
| Deutsche Lufthansa AG, Registered | &nbsp;&nbsp; 434061 | 2720166 |
| Deutsche Pfandbriefbank AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 137733 | 777283 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 620683 | 27685895 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 2061330 | 53919203 |
| Duerr AG | &nbsp;&nbsp; 34898 | 767567 |
| E.ON SE | &nbsp;&nbsp; 1392057 | 19520981 |
| Eckert & Ziegler SE | &nbsp;&nbsp; 15477 | 724344 |
| Encavis AG, NVS<sup>(b)</sup> | &nbsp;&nbsp; 89463 | 1676759 |
| Evonik Industries AG | &nbsp;&nbsp; 135697 | 2748095 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Evotec SE<sup>(b)</sup> | &nbsp;&nbsp; 113572 | $1070141 |
| Fielmann Group AG | &nbsp;&nbsp; 22204 | 1005284 |
| flatexDEGIRO AG | &nbsp;&nbsp; 71127 | 1004430 |
| Fraport AG Frankfurt Airport Services Worldwide<sup>(b)</sup> | &nbsp;&nbsp; 27854 | 1414518 |
| Freenet AG | &nbsp;&nbsp; 113818 | 3149580 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 130450 | 5033785 |
| Fresenius SE & Co. KGaA<sup>(b)</sup> | &nbsp;&nbsp; 264210 | 9466844 |
| GEA Group AG | &nbsp;&nbsp; 115421 | 5096467 |
| Gerresheimer AG | &nbsp;&nbsp; 20677 | 2137739 |
| Grand City Properties SA<sup>(b)</sup> | &nbsp;&nbsp; 58902 | 694336 |
| Grenke AG | &nbsp;&nbsp; 20963 | 647332 |
| Hamborner REIT AG<sup>(a)</sup> | &nbsp;&nbsp; 167834 | 1180785 |
| Hannover Rueck SE | &nbsp;&nbsp; 36855 | 9150747 |
| Heidelberg Materials AG | &nbsp;&nbsp; 85896 | 8948575 |
| HelloFresh SE<sup>(b)</sup> | &nbsp;&nbsp; 106932 | 667977 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 78916 | 6114639 |
| Hensoldt AG | &nbsp;&nbsp; 44621 | 1651029 |
| Hugo Boss AG | &nbsp;&nbsp; 48043 | 1909251 |
| Hypoport SE<sup>(b)</sup> | &nbsp;&nbsp; 3449 | 1025054 |
| Infineon Technologies AG | &nbsp;&nbsp; 825426 | 28673763 |
| Jenoptik AG | &nbsp;&nbsp; 46793 | 1334149 |
| K+S AG, Registered | &nbsp;&nbsp; 130499 | 1681174 |
| KION Group AG | &nbsp;&nbsp; 50871 | 2011940 |
| Knorr-Bremse AG | &nbsp;&nbsp; 44822 | 3604398 |
| Kontron AG | &nbsp;&nbsp; 32989 | 698944 |
| Krones AG | &nbsp;&nbsp; 13473 | 1822817 |
| Lanxess AG | &nbsp;&nbsp; 58783 | 1534624 |
| LEG Immobilien SE | &nbsp;&nbsp; 44395 | 3872642 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 507395 | 33541054 |
| Merck KGaA | &nbsp;&nbsp; 81469 | 14556252 |
| METRO AG | &nbsp;&nbsp; 108785 | 495373 |
| MTU Aero Engines AG | &nbsp;&nbsp; 34968 | 9901666 |
| Muenchener Rueckversicherungs-Gesellschaft AG <br> in Muenchen, Registered<br>| &nbsp;&nbsp; 85642 | 42180806 |
| Nagarro SE<sup>(b)</sup> | &nbsp;&nbsp; 10814 | 940399 |
| Nemetschek SE | &nbsp;&nbsp; 43553 | 4160012 |
| Nordex SE<sup>(b)</sup> | &nbsp;&nbsp; 109584 | 1661418 |
| Norma Group SE | &nbsp;&nbsp; 21657 | 402670 |
| Patrizia SE | &nbsp;&nbsp; 16106 | 126874 |
| Pfeiffer Vacuum Technology AG | &nbsp;&nbsp; 6550 | 1116993 |
| ProSiebenSat.1 Media SE<sup>(a)</sup> | &nbsp;&nbsp; 144959 | 994468 |
| Puma SE | &nbsp;&nbsp; 68263 | 3387423 |
| Qiagen NV, NVS | &nbsp;&nbsp; 139836 | 6221854 |
| Rational AG | &nbsp;&nbsp; 2985 | 2613000 |
| Redcare Pharmacy NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 13739 | 2056776 |
| Rheinmetall AG | &nbsp;&nbsp; 28078 | 15292859 |
| RWE AG | &nbsp;&nbsp; 406249 | 15161579 |
| SAP SE | &nbsp;&nbsp; 660622 | 139668859 |
| Scout24 SE<sup>(c)</sup> | &nbsp;&nbsp; 54915 | 4341438 |
| Siemens AG, Registered | &nbsp;&nbsp; 481621 | 88183352 |
| Siemens Energy AG<sup>(b)</sup> | &nbsp;&nbsp; 379750 | 11027385 |
| Siemens Healthineers AG<sup>(c)</sup> | &nbsp;&nbsp; 177721 | 9525687 |
| Siltronic AG | &nbsp;&nbsp; 16248 | 1325095 |
| Sixt SE<sup>(a)</sup> | &nbsp;&nbsp; 15801 | 1102528 |
| Stabilus SE | &nbsp;&nbsp; 19447 | 951650 |
| Stroeer SE & Co. KGaA | &nbsp;&nbsp; 37011 | 2502330 |
| Suedzucker AG | &nbsp;&nbsp; 70223 | 925666 |
| Symrise AG, Class A | &nbsp;&nbsp; 84142 | 10604531 |
| TAG Immobilien AG<sup>(b)</sup> | &nbsp;&nbsp; 127823 | 1925746 |
| Talanx AG<sup>(b)</sup> | &nbsp;&nbsp; 39430 | 2995553 |
| TeamViewer SE<sup>(b)(c)</sup> | &nbsp;&nbsp; 118685 | 1600696 |
| thyssenkrupp AG | &nbsp;&nbsp; 317058 | 1214014 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| TUI AG<sup>(b)</sup> | &nbsp;&nbsp; 268961 | $1734487 |
| United Internet AG, Registered<sup>(d)</sup> | &nbsp;&nbsp; 71850 | 1593576 |
| Verbio SE | &nbsp;&nbsp; 19802 | 372292 |
| Volkswagen AG | &nbsp;&nbsp; 20510 | 2419955 |
| Vonovia SE | &nbsp;&nbsp; 458034 | 14043413 |
| Wacker Chemie AG | &nbsp;&nbsp; 13142 | 1313529 |
| Zalando SE<sup>(b)(c)</sup> | &nbsp;&nbsp; 142571 | 3653278 |
|  |  | 948033627 |
| **Hong Kong — 1.5%** | **Hong Kong — 1.5%** | **Hong Kong — 1.5%** |
| AIA Group Ltd. | &nbsp;&nbsp; 7219400 | 48289524 |
| ASMPT Ltd. | &nbsp;&nbsp; 189400 | 1980282 |
| Bank of East Asia Ltd. (The) | &nbsp;&nbsp; 1217200 | 1535237 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 2608000 | 7587511 |
| Cafe de Coral Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 330000 | 339943 |
| CITIC Telecom International Holdings Ltd. | &nbsp;&nbsp; 2931000 | 781026 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 1247500 | 4766785 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 1613000 | 8426486 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 516500 | 3444925 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 998000 | 8565451 |
| Dah Sing Financial Holdings Ltd. | &nbsp;&nbsp; 155600 | 407066 |
| ESR Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1436000 | 2170992 |
| Futu Holdings Ltd., ADR<sup>(b)</sup> | &nbsp;&nbsp; 43132 | 2729393 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 1343000 | 5645867 |
| Hang Lung Properties Ltd. | &nbsp;&nbsp; 1258000 | 922483 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 474400 | 5809419 |
| Health and Happiness H&H International <br> Holdings Ltd.<br>| &nbsp;&nbsp; 279500 | 307302 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 1081572 | 3037944 |
| HKBN Ltd. | &nbsp;&nbsp; 793000 | 251181 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 2493000 | 3019427 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 7085482 | 5773765 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 764200 | 22541623 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 739300 | 2387652 |
| Hysan Development Co. Ltd. | &nbsp;&nbsp; 322000 | 440976 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 107400 | 3783587 |
| Johnson Electric Holdings Ltd. | &nbsp;&nbsp; 369000 | 510178 |
| Kerry Logistics Network Ltd. | &nbsp;&nbsp; 282898 | 247672 |
| Kerry Properties Ltd. | &nbsp;&nbsp; 561500 | 956589 |
| Link REIT | &nbsp;&nbsp; 1701000 | 7176555 |
| Luk Fook Holdings International Ltd. | &nbsp;&nbsp; 291000 | 572336 |
| Man Wah Holdings Ltd. | &nbsp;&nbsp; 1271200 | 749755 |
| Melco International Development Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 515000 | 302310 |
| Melco Resorts & Entertainment Ltd., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 179876 | 1027092 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 861500 | 2787034 |
| New World Development Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1060000 | 988180 |
| NWS Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1460000 | 1307598 |
| Pacific Basin Shipping Ltd. | &nbsp;&nbsp; 3631000 | 1090234 |
| PCCW Ltd. | &nbsp;&nbsp; 3540000 | 1835402 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 851000 | 5423823 |
| Sands China Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1483600 | 2781207 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 2310000 | 2389367 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 900000 | 2008599 |
| SJM Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1667000 | 537323 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 880000 | 7619500 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 241000 | 2079053 |
| Swire Properties Ltd. | &nbsp;&nbsp; 840200 | 1326952 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 855000 | 10949721 |
| Vitasoy International Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 628000 | 450537 |
| VTech Holdings Ltd. | &nbsp;&nbsp; 170000 | 1118442 |
| WH Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 6298000 | 4093975 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 623045 | 1708294 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 1130000 | 2778013 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| Xinyi Glass Holdings Ltd. | &nbsp;&nbsp; 1251000 | $1321504 |
| Yue Yuen Industrial Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 638000 | 1041487 |
|  |  | 212124579 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| AIB Group PLC | &nbsp;&nbsp; 1004154 | 5759912 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 652966 | 7394798 |
| Cairn Homes PLC | &nbsp;&nbsp; 463631 | 948335 |
| Glanbia PLC | &nbsp;&nbsp; 163037 | 3262501 |
| Glenveagh Properties PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 400501 | 596417 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 97613 | 9126399 |
| Kingspan Group PLC | &nbsp;&nbsp; 97973 | 9166763 |
|  |  | 36255125 |
| **Israel — 0.9%** | **Israel — 0.9%** | **Israel — 0.9%** |
| Airport City Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 65135 | 900104 |
| Alony Hetz Properties & Investments Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 151965 | 1014342 |
| Amot Investments Ltd. | &nbsp;&nbsp; 199674 | 809322 |
| Azrieli Group Ltd. | &nbsp;&nbsp; 40167 | 2465345 |
| Bank Hapoalim BM | &nbsp;&nbsp; 809360 | 7426958 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 949737 | 8184349 |
| Bezeq The Israeli Telecommunication Corp. Ltd. | &nbsp;&nbsp; 1760993 | 1996114 |
| Big Shopping Centers Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 14197 | 1386534 |
| Camtek Ltd./Israel | &nbsp;&nbsp; 26828 | 2693061 |
| Check Point Software Technologies Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 62766 | 11514423 |
| CyberArk Software Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 28163 | 7220430 |
| Delek Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 8592 | 889256 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 19776 | 3539609 |
| Electra Ltd./Israel<sup>(a)</sup> | &nbsp;&nbsp; 2504 | 917720 |
| Energix-Renewable Energies Ltd. | &nbsp;&nbsp; 459808 | 1573797 |
| Enlight Renewable Energy Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 125552 | 1923638 |
| First International Bank Of Israel Ltd. (The) | &nbsp;&nbsp; 43846 | 1767818 |
| Fiverr International Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 31711 | 827974 |
| G City Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 71346 | 197596 |
| Gav-Yam Lands Corp. Ltd. | &nbsp;&nbsp; 1 | 7 |
| Global-e Online Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 73427 | 2520015 |
| Harel Insurance Investments & Financial <br> Services Ltd.<sup>(a)</sup><br>| &nbsp;&nbsp; 92609 | 831859 |
| ICL Group Ltd. | &nbsp;&nbsp; 502445 | 2103273 |
| Inmode Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 65364 | 1184396 |
| Isracard Ltd. | &nbsp;&nbsp; 451481 | 1570131 |
| Israel Discount Bank Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 868863 | 4435558 |
| Kornit Digital Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 46381 | 725863 |
| Melisron Ltd. | &nbsp;&nbsp; 24474 | 1715518 |
| Mivne Real Estate KD Ltd. | &nbsp;&nbsp; 533562 | 1230606 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 95603 | 3449955 |
| Monday.com Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 23750 | 5457987 |
| Nano Dimension Ltd., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 321110 | 780297 |
| Nice Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 40181 | 7252232 |
| Nova Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 20717 | 4162704 |
| Paz Oil Co. Ltd. | &nbsp;&nbsp; 8161 | 771131 |
| Perion Network Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 40923 | 334054 |
| Phoenix Holdings Ltd. (The) | &nbsp;&nbsp; 99026 | 956852 |
| Radware Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 37084 | 840323 |
| Reit 1 Ltd. | &nbsp;&nbsp; 289129 | 1081042 |
| Shapir Engineering and Industry Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 289013 | 1606928 |
| Shikun & Binui Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 332571 | 754979 |
| Shufersal Ltd. | &nbsp;&nbsp; 232495 | 1574492 |
| Strauss Group Ltd. | &nbsp;&nbsp; 61430 | 895389 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(b)</sup> | &nbsp;&nbsp; 727569 | 12681528 |
| Tower Semiconductor Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 64999 | 2619137 |
| Wix.com Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 38780 | 6046771 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Israel (continued)** | **Israel (continued)** | **Israel (continued)** |
| ZIM Integrated Shipping Services Ltd. | &nbsp;&nbsp; 64704 | $1274022 |
|  |  | 126105439 |
| **Italy — 2.4%** | **Italy — 2.4%** | **Italy — 2.4%** |
| A2A SpA | &nbsp;&nbsp; 1096412 | 2322278 |
| ACEA SpA | &nbsp;&nbsp; 35689 | 619186 |
| Amplifon SpA | &nbsp;&nbsp; 93518 | 2970169 |
| Anima Holding SpA<sup>(c)</sup> | &nbsp;&nbsp; 192920 | 1014474 |
| Ascopiave SpA | &nbsp;&nbsp; 48700 | 130973 |
| Azimut Holding SpA | &nbsp;&nbsp; 75408 | 1889410 |
| Banca Generali SpA | &nbsp;&nbsp; 46497 | 2023387 |
| Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp; 561886 | 3066132 |
| Banca Popolare di Sondrio SpA | &nbsp;&nbsp; 281957 | 2148832 |
| Banco BPM SpA | &nbsp;&nbsp; 808141 | 5595302 |
| BFF Bank SpA<sup>(c)</sup> | &nbsp;&nbsp; 139475 | 1576577 |
| BPER Banca SpA | &nbsp;&nbsp; 630731 | 3690427 |
| Brembo NV | &nbsp;&nbsp; 111902 | 1255349 |
| Brunello Cucinelli SpA | &nbsp;&nbsp; 21632 | 2020585 |
| Buzzi SpA | &nbsp;&nbsp; 52611 | 2062564 |
| Carel Industries SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 44560 | 823022 |
| Davide Campari-Milano NV | &nbsp;&nbsp; 372565 | 3359967 |
| De' Longhi SpA | &nbsp;&nbsp; 58319 | 1838232 |
| DiaSorin SpA | &nbsp;&nbsp; 18348 | 2001233 |
| Enav SpA<sup>(c)</sup> | &nbsp;&nbsp; 192762 | 824484 |
| Enel SpA | &nbsp;&nbsp; 5096854 | 36387328 |
| Eni SpA | &nbsp;&nbsp; 1346316 | 21540775 |
| ERG SpA | &nbsp;&nbsp; 37936 | 1005897 |
| Ferrari NV | &nbsp;&nbsp; 80459 | 33114719 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 368958 | 6263511 |
| Generali | &nbsp;&nbsp; 638262 | 16520143 |
| Hera SpA | &nbsp;&nbsp; 768268 | 2811089 |
| Infrastrutture Wireless Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 167277 | 1861328 |
| Interpump Group SpA | &nbsp;&nbsp; 38192 | 1656321 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 9162146 | 37205937 |
| Iren SpA | &nbsp;&nbsp; 406793 | 827761 |
| Italgas SpA<sup>(a)</sup> | &nbsp;&nbsp; 386724 | 2067877 |
| Iveco Group NV | &nbsp;&nbsp; 151670 | 1557519 |
| Leonardo SpA | &nbsp;&nbsp; 228919 | 5454080 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 324548 | 5268465 |
| MFE-MediaForEurope NV, NVS | &nbsp;&nbsp; 74755 | 346915 |
| MFE-MediaForEurope NV, Class A | &nbsp;&nbsp; 179645 | 612006 |
| Moncler SpA | &nbsp;&nbsp; 139088 | 8293270 |
| Nexi SpA<sup>(b)(c)</sup> | &nbsp;&nbsp; 364564 | 2237576 |
| Pirelli & C SpA<sup>(c)</sup> | &nbsp;&nbsp; 241313 | 1510687 |
| Poste Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 325252 | 4403113 |
| Prysmian SpA | &nbsp;&nbsp; 177460 | 12199398 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 78674 | 4283262 |
| Reply SpA | &nbsp;&nbsp; 13089 | 1857928 |
| Saipem SpA<sup>(b)</sup> | &nbsp;&nbsp; 904257 | 2148183 |
| Salvatore Ferragamo SpA<sup>(a)</sup> | &nbsp;&nbsp; 82965 | 723441 |
| Snam SpA | &nbsp;&nbsp; 1252853 | 5986914 |
| SOL SpA | &nbsp;&nbsp; 30463 | 1139105 |
| Stellantis NV | &nbsp;&nbsp; 1409486 | 23487758 |
| Tamburi Investment Partners SpA | &nbsp;&nbsp; 99911 | 1007422 |
| Technogym SpA<sup>(c)</sup> | &nbsp;&nbsp; 151906 | 1489808 |
| Technoprobe SpA<sup>(b)</sup> | &nbsp;&nbsp; 122191 | 1111783 |
| Telecom Italia SpA/Milano<sup>(a)(b)</sup> | &nbsp;&nbsp; 7858649 | 1926251 |
| Tenaris SA, NVS | &nbsp;&nbsp; 334371 | 5305407 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 904461 | 7531675 |
| UniCredit SpA | &nbsp;&nbsp; 968363 | 39775220 |
| Unipol Gruppo SpA | &nbsp;&nbsp; 260178 | 2803251 |
|  |  | 344955706 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan — 22.2%** | **Japan — 22.2%** | **Japan — 22.2%** |
| 77 Bank Ltd. (The) | &nbsp;&nbsp; 46700 | $1457935 |
| ABC-Mart Inc. | &nbsp;&nbsp; 75200 | 1482322 |
| Activia Properties Inc. | &nbsp;&nbsp; 346 | 818527 |
| ADEKA Corp. | &nbsp;&nbsp; 45400 | 963835 |
| Advance Logistics Investment Corp. | &nbsp;&nbsp; 1124 | 894528 |
| Advance Residence Investment Corp. | &nbsp;&nbsp; 886 | 1858802 |
| Advantest Corp. | &nbsp;&nbsp; 493200 | 21829705 |
| Aeon Co. Ltd. | &nbsp;&nbsp; 430500 | 9822538 |
| Aeon Delight Co. Ltd. | &nbsp;&nbsp; 26000 | 677597 |
| AEON Financial Service Co. Ltd. | &nbsp;&nbsp; 125400 | 1151197 |
| Aeon Mall Co. Ltd. | &nbsp;&nbsp; 47800 | 655349 |
| AEON REIT Investment Corp. | &nbsp;&nbsp; 767 | 662778 |
| AGC Inc. | &nbsp;&nbsp; 119500 | 4276874 |
| Ai Holdings Corp. | &nbsp;&nbsp; 49100 | 820800 |
| Aica Kogyo Co. Ltd. | &nbsp;&nbsp; 30900 | 715133 |
| Aiful Corp. | &nbsp;&nbsp; 561800 | 1456042 |
| Ain Holdings Inc. | &nbsp;&nbsp; 18200 | 699722 |
| Air Water Inc. | &nbsp;&nbsp; 120900 | 1776150 |
| Aisin Corp. | &nbsp;&nbsp; 103400 | 3488300 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 288500 | 11881943 |
| Alfresa Holdings Corp. | &nbsp;&nbsp; 131000 | 2046532 |
| Alps Alpine Co. Ltd. | &nbsp;&nbsp; 133100 | 1410652 |
| Amada Co. Ltd. | &nbsp;&nbsp; 160400 | 1883725 |
| Amano Corp. | &nbsp;&nbsp; 49800 | 1262531 |
| ANA Holdings Inc. | &nbsp;&nbsp; 96700 | 1849651 |
| Anritsu Corp. | &nbsp;&nbsp; 82100 | 704636 |
| Aozora Bank Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 72900 | 1211928 |
| Arcs Co. Ltd. | &nbsp;&nbsp; 24100 | 437871 |
| ARE Holdings Inc. | &nbsp;&nbsp; 117800 | 1611728 |
| Ariake Japan Co. Ltd. | &nbsp;&nbsp; 15900 | 567369 |
| Artience Co. Ltd. | &nbsp;&nbsp; 33100 | 699936 |
| As One Corp. | &nbsp;&nbsp; 44200 | 952319 |
| Asahi Group Holdings Ltd. | &nbsp;&nbsp; 300600 | 11066042 |
| Asahi Intecc Co. Ltd. | &nbsp;&nbsp; 131100 | 2078291 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 786400 | 5670938 |
| Asics Corp.<sup>(a)</sup> | &nbsp;&nbsp; 413800 | 6753352 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 1251000 | 14509035 |
| Atom Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 157700 | 784442 |
| Autobacs Seven Co. Ltd. | &nbsp;&nbsp; 99700 | 1102099 |
| Awa Bank Ltd. (The) | &nbsp;&nbsp; 19800 | 367288 |
| Azbil Corp. | &nbsp;&nbsp; 57500 | 1670903 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 390300 | 8294167 |
| BayCurrent Consulting Inc. | &nbsp;&nbsp; 92600 | 2850655 |
| Bic Camera Inc. | &nbsp;&nbsp; 95200 | 1074348 |
| BIPROGY Inc. | &nbsp;&nbsp; 50700 | 1661365 |
| BML Inc. | &nbsp;&nbsp; 24900 | 496746 |
| Bridgestone Corp. | &nbsp;&nbsp; 355700 | 14503185 |
| Brother Industries Ltd. | &nbsp;&nbsp; 135400 | 2777914 |
| Calbee Inc. | &nbsp;&nbsp; 55200 | 1267099 |
| Canon Inc. | &nbsp;&nbsp; 632400 | 19795192 |
| Canon Marketing Japan Inc. | &nbsp;&nbsp; 38600 | 1195304 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 199500 | 4262101 |
| Casio Computer Co. Ltd. | &nbsp;&nbsp; 90300 | 726788 |
| Central Glass Co. Ltd. | &nbsp;&nbsp; 24900 | 624352 |
| Central Japan Railway Co. | &nbsp;&nbsp; 503000 | 11859202 |
| Change Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 53100 | 396282 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 290300 | 2719377 |
| Chiyoda Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 218300 | 447194 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 423600 | 5340969 |
| Chudenko Corp. | &nbsp;&nbsp; 12200 | 284795 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 446800 | 19499457 |
| Chugin Financial Group Inc., NVS | &nbsp;&nbsp; 134200 | 1495035 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Chugoku Electric Power Co. Inc. (The) | &nbsp;&nbsp; 180200 | $1310542 |
| Citizen Watch Co. Ltd. | &nbsp;&nbsp; 167300 | 1128097 |
| CKD Corp. | &nbsp;&nbsp; 38400 | 766910 |
| Coca-Cola Bottlers Japan Holdings Inc. | &nbsp;&nbsp; 117000 | 1744788 |
| COLOPL Inc. | &nbsp;&nbsp; 50700 | 206061 |
| Colowide Co. Ltd. | &nbsp;&nbsp; 42500 | 585040 |
| Comforia Residential REIT Inc. | &nbsp;&nbsp; 434 | 900365 |
| COMSYS Holdings Corp. | &nbsp;&nbsp; 62700 | 1349817 |
| Comture Corp. | &nbsp;&nbsp; 30100 | 378392 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 864800 | 5450411 |
| Cosmo Energy Holdings Co. Ltd. | &nbsp;&nbsp; 46300 | 2484763 |
| Cosmos Pharmaceutical Corp. | &nbsp;&nbsp; 12600 | 1132850 |
| CRE Logistics REIT Inc. | &nbsp;&nbsp; 1246 | 1201193 |
| Create Restaurants Holdings Inc. | &nbsp;&nbsp; 117300 | 837360 |
| Create SD Holdings Co. Ltd. | &nbsp;&nbsp; 15500 | 347769 |
| Credit Saison Co. Ltd. | &nbsp;&nbsp; 78900 | 1828839 |
| CyberAgent Inc. | &nbsp;&nbsp; 265500 | 1716571 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 131000 | 4309666 |
| Daicel Corp. | &nbsp;&nbsp; 161400 | 1568936 |
| Daido Steel Co. Ltd. | &nbsp;&nbsp; 82500 | 825454 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 166100 | 3006125 |
| Daihen Corp. | &nbsp;&nbsp; 20400 | 1001101 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 598900 | 18260639 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 1172000 | 47732821 |
| Daiichikosho Co. Ltd. | &nbsp;&nbsp; 46600 | 562457 |
| Daikin Industries Ltd. | &nbsp;&nbsp; 165300 | 23969583 |
| Daio Paper Corp. | &nbsp;&nbsp; 99200 | 592067 |
| Daiseki Co. Ltd. | &nbsp;&nbsp; 29460 | 705222 |
| Daishi Hokuetsu Financial Group Inc. | &nbsp;&nbsp; 28800 | 1147554 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 35300 | 4245181 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 356400 | 10092671 |
| Daiwa House REIT Investment Corp. | &nbsp;&nbsp; 1252 | 2014862 |
| Daiwa Office Investment Corp. | &nbsp;&nbsp; 292 | 572018 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 870000 | 7182801 |
| Daiwa Securities Living Investments Corp. | &nbsp;&nbsp; 1276 | 867958 |
| Daiwabo Holdings Co. Ltd. | &nbsp;&nbsp; 111700 | 2104839 |
| DCM Holdings Co. Ltd. | &nbsp;&nbsp; 108500 | 1047303 |
| DeNA Co. Ltd. | &nbsp;&nbsp; 40300 | 416605 |
| Denka Co. Ltd. | &nbsp;&nbsp; 38400 | 559603 |
| Denso Corp. | &nbsp;&nbsp; 1179400 | 19340988 |
| Dentsu Group Inc. | &nbsp;&nbsp; 130700 | 3456127 |
| Dentsu Soken Inc. | &nbsp;&nbsp; 24200 | 919971 |
| Descente Ltd. | &nbsp;&nbsp; 21300 | 562457 |
| Dexerials Corp. | &nbsp;&nbsp; 40900 | 1963555 |
| DIC Corp. | &nbsp;&nbsp; 44500 | 915425 |
| Digital Arts Inc. | &nbsp;&nbsp; 15000 | 476209 |
| Digital Garage Inc. | &nbsp;&nbsp; 29900 | 556117 |
| Dip Corp. | &nbsp;&nbsp; 21900 | 450247 |
| Disco Corp. | &nbsp;&nbsp; 58900 | 19695957 |
| DMG Mori Co. Ltd. | &nbsp;&nbsp; 96700 | 2460485 |
| Dowa Holdings Co. Ltd. | &nbsp;&nbsp; 24800 | 910164 |
| DTS Corp. | &nbsp;&nbsp; 30400 | 878829 |
| Duskin Co. Ltd. | &nbsp;&nbsp; 22800 | 599458 |
| Earth Corp. | &nbsp;&nbsp; 10000 | 335172 |
| East Japan Railway Co. | &nbsp;&nbsp; 556400 | 10601314 |
| Ebara Corp. | &nbsp;&nbsp; 290400 | 4158677 |
| EDION Corp. | &nbsp;&nbsp; 88100 | 1026474 |
| eGuarantee Inc. | &nbsp;&nbsp; 21900 | 214396 |
| Eiken Chemical Co. Ltd. | &nbsp;&nbsp; 38200 | 618637 |
| Eisai Co. Ltd. | &nbsp;&nbsp; 155600 | 5933950 |
| Elecom Co. Ltd. | &nbsp;&nbsp; 58800 | 644739 |
| Electric Power Development Co. Ltd. | &nbsp;&nbsp; 107500 | 1777063 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| en Japan Inc. | &nbsp;&nbsp; 18500 | $346336 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 1977100 | 10359096 |
| Euglena Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 168100 | 618748 |
| EXEO Group Inc. | &nbsp;&nbsp; 107300 | 1170374 |
| Ezaki Glico Co. Ltd. | &nbsp;&nbsp; 32300 | 992057 |
| Fancl Corp. | &nbsp;&nbsp; 59400 | 1150429 |
| FANUC Corp. | &nbsp;&nbsp; 594000 | 17610170 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 110200 | 30376491 |
| FCC Co. Ltd. | &nbsp;&nbsp; 43500 | 678619 |
| Ferrotec Holdings Corp. | &nbsp;&nbsp; 38400 | 636745 |
| Food & Life Companies Ltd. | &nbsp;&nbsp; 65100 | 1140817 |
| FP Corp. | &nbsp;&nbsp; 25100 | 432944 |
| Freee KK<sup>(b)</sup> | &nbsp;&nbsp; 30000 | 491524 |
| Frontier Real Estate Investment Corp. | &nbsp;&nbsp; 246 | 713132 |
| Fuji Corp./Aichi | &nbsp;&nbsp; 43400 | 725772 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 97600 | 5489697 |
| Fuji Kyuko Co. Ltd. | &nbsp;&nbsp; 14900 | 304071 |
| Fuji Oil Holdings Inc. | &nbsp;&nbsp; 26800 | 559570 |
| Fuji Seal International Inc. | &nbsp;&nbsp; 26000 | 415653 |
| Fuji Soft Inc. | &nbsp;&nbsp; 40100 | 1921202 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 693900 | 16498116 |
| Fujikura Ltd. | &nbsp;&nbsp; 152900 | 3063140 |
| Fujimi Inc. | &nbsp;&nbsp; 40500 | 850590 |
| Fujitec Co. Ltd. | &nbsp;&nbsp; 51400 | 1486757 |
| Fujitsu General Ltd. | &nbsp;&nbsp; 45300 | 594337 |
| Fujitsu Ltd. | &nbsp;&nbsp; 1112000 | 20194096 |
| Fujiya Co. Ltd. | &nbsp;&nbsp; 20500 | 371246 |
| Fukuoka Financial Group Inc. | &nbsp;&nbsp; 113100 | 3172326 |
| Fukuoka REIT Corp. | &nbsp;&nbsp; 390 | 408305 |
| Fukuyama Transporting Co. Ltd. | &nbsp;&nbsp; 12300 | 331782 |
| Funai Soken Holdings Inc. | &nbsp;&nbsp; 27500 | 401279 |
| Furukawa Electric Co. Ltd. | &nbsp;&nbsp; 56900 | 1556599 |
| Fuso Chemical Co. Ltd. | &nbsp;&nbsp; 18600 | 481419 |
| Future Corp. | &nbsp;&nbsp; 42800 | 490028 |
| Fuyo General Lease Co. Ltd. | &nbsp;&nbsp; 8800 | 719252 |
| Global One Real Estate Investment Corp. | &nbsp;&nbsp; 438 | 296001 |
| Glory Ltd. | &nbsp;&nbsp; 23700 | 430847 |
| GLP J-REIT | &nbsp;&nbsp; 2566 | 2248030 |
| GMO internet group Inc. | &nbsp;&nbsp; 53600 | 888069 |
| GMO Payment Gateway Inc. | &nbsp;&nbsp; 25700 | 1473234 |
| GNI Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 51500 | 788283 |
| Goldwin Inc. | &nbsp;&nbsp; 17400 | 1071629 |
| Gree Inc. | &nbsp;&nbsp; 88700 | 313610 |
| GS Yuasa Corp. | &nbsp;&nbsp; 53500 | 951940 |
| GungHo Online Entertainment Inc. | &nbsp;&nbsp; 35200 | 688196 |
| Gunma Bank Ltd. (The) | &nbsp;&nbsp; 251900 | 1708908 |
| H.U. Group Holdings Inc. | &nbsp;&nbsp; 32700 | 575471 |
| H2O Retailing Corp. | &nbsp;&nbsp; 71400 | 1241976 |
| Hachijuni Bank Ltd. (The) | &nbsp;&nbsp; 276600 | 1971492 |
| Hakuhodo DY Holdings Inc. | &nbsp;&nbsp; 146700 | 1198001 |
| Hamakyorex Co. Ltd. | &nbsp;&nbsp; 14900 | 472435 |
| Hamamatsu Photonics KK | &nbsp;&nbsp; 102000 | 2937492 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 145000 | 4137419 |
| Hankyu Hanshin REIT Inc. | &nbsp;&nbsp; 325 | 288648 |
| Hanwa Co. Ltd. | &nbsp;&nbsp; 25300 | 977908 |
| Harmonic Drive Systems Inc. | &nbsp;&nbsp; 33700 | 926141 |
| Haseko Corp. | &nbsp;&nbsp; 139600 | 1742133 |
| Hazama Ando Corp. | &nbsp;&nbsp; 103600 | 837202 |
| Heiwa Corp. | &nbsp;&nbsp; 49400 | 708715 |
| Heiwa Real Estate Co. Ltd. | &nbsp;&nbsp; 18400 | 528877 |
| Heiwa Real Estate REIT Inc. | &nbsp;&nbsp; 567 | 496588 |
| Heiwado Co. Ltd. | &nbsp;&nbsp; 20600 | 337292 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 10900 | $2041072 |
| Hino Motors Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 144600 | 467148 |
| Hioki EE Corp | &nbsp;&nbsp; 11900 | 638085 |
| Hirogin Holdings Inc. | &nbsp;&nbsp; 274800 | 2230597 |
| Hirose Electric Co. Ltd. | &nbsp;&nbsp; 16205 | 2028927 |
| HIS Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 28800 | 332213 |
| Hisamitsu Pharmaceutical Co. Inc. | &nbsp;&nbsp; 42500 | 1170612 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 61000 | 1519334 |
| Hitachi Ltd. | &nbsp;&nbsp; 2924700 | 63193007 |
| Hitachi Zosen Corp. | &nbsp;&nbsp; 129700 | 941612 |
| Hogy Medical Co. Ltd. | &nbsp;&nbsp; 14800 | 407137 |
| Hokkaido Electric Power Co. Inc. | &nbsp;&nbsp; 129000 | 877184 |
| Hokuetsu Corp.<sup>(a)</sup> | &nbsp;&nbsp; 117000 | 905717 |
| Hokuhoku Financial Group Inc. | &nbsp;&nbsp; 75400 | 1054435 |
| Hokuriku Electric Power Co. | &nbsp;&nbsp; 106900 | 685173 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 2884800 | 30822854 |
| Horiba Ltd. | &nbsp;&nbsp; 24500 | 1939058 |
| Hoshino Resorts REIT Inc. | &nbsp;&nbsp; 186 | 643469 |
| Hoshizaki Corp. | &nbsp;&nbsp; 49400 | 1555794 |
| Hosiden Corp. | &nbsp;&nbsp; 105500 | 1439298 |
| House Foods Group Inc. | &nbsp;&nbsp; 34000 | 670733 |
| Hoya Corp. | &nbsp;&nbsp; 226800 | 28418206 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 224500 | 2191367 |
| Hulic REIT Inc. | &nbsp;&nbsp; 529 | 503529 |
| Ibiden Co. Ltd. | &nbsp;&nbsp; 67000 | 2597066 |
| Ichibanya Co. Ltd. | &nbsp;&nbsp; 116600 | 829673 |
| Ichigo Inc. | &nbsp;&nbsp; 167300 | 471658 |
| Ichigo Office REIT Investment Corp. | &nbsp;&nbsp; 813 | 454002 |
| Idec Corp./Japan | &nbsp;&nbsp; 33200 | 684012 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 602000 | 3964962 |
| IHI Corp. | &nbsp;&nbsp; 105300 | 3841409 |
| Iida Group Holdings Co. Ltd. | &nbsp;&nbsp; 73000 | 1097311 |
| Inaba Denki Sangyo Co. Ltd. | &nbsp;&nbsp; 26300 | 689550 |
| Inabata & Co. Ltd. | &nbsp;&nbsp; 23700 | 530767 |
| Industrial & Infrastructure Fund Investment Corp. | &nbsp;&nbsp; 1557 | 1284940 |
| Infomart Corp. | &nbsp;&nbsp; 154300 | 330428 |
| Infroneer Holdings Inc. | &nbsp;&nbsp; 157152 | 1362754 |
| Inpex Corp. | &nbsp;&nbsp; 676500 | 10446165 |
| Internet Initiative Japan Inc. | &nbsp;&nbsp; 96200 | 1626891 |
| Invincible Investment Corp. | &nbsp;&nbsp; 5979 | 2708187 |
| Iriso Electronics Co. Ltd. | &nbsp;&nbsp; 12700 | 255259 |
| Isetan Mitsukoshi Holdings Ltd. | &nbsp;&nbsp; 253800 | 5049428 |
| Isuzu Motors Ltd. | &nbsp;&nbsp; 421900 | 5707095 |
| Ito En Ltd. | &nbsp;&nbsp; 30900 | 732571 |
| ITOCHU Corp. | &nbsp;&nbsp; 747800 | 38349746 |
| Itoham Yonekyu Holdings Inc. | &nbsp;&nbsp; 47680 | 1407401 |
| Iwatani Corp. | &nbsp;&nbsp; 30100 | 1910179 |
| Iyogin Holdings Inc., NVS | &nbsp;&nbsp; 180700 | 1815528 |
| Izumi Co. Ltd. | &nbsp;&nbsp; 19400 | 462233 |
| J Front Retailing Co. Ltd. | &nbsp;&nbsp; 244000 | 2955640 |
| JAFCO Group Co. Ltd. | &nbsp;&nbsp; 39300 | 497441 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 91700 | 1485804 |
| Japan Airport Terminal Co. Ltd. | &nbsp;&nbsp; 31900 | 1164486 |
| Japan Aviation Electronics Industry Ltd. | &nbsp;&nbsp; 39100 | 655253 |
| Japan Elevator Service Holdings Co. Ltd. | &nbsp;&nbsp; 51300 | 946656 |
| Japan Excellent Inc. | &nbsp;&nbsp; 602 | 478883 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 304300 | 7144480 |
| Japan Hotel REIT Investment Corp. | &nbsp;&nbsp; 4438 | 2267021 |
| Japan Lifeline Co. Ltd. | &nbsp;&nbsp; 65700 | 508820 |
| Japan Logistics Fund Inc. | &nbsp;&nbsp; 339 | 579958 |
| Japan Material Co. Ltd. | &nbsp;&nbsp; 110600 | 1467376 |
| Japan Metropolitan Fund Invest | &nbsp;&nbsp; 4999 | 3121366 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Japan Petroleum Exploration Co. Ltd. | &nbsp;&nbsp; 29100 | $1199871 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 883700 | 9195930 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 1419700 | 15035273 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 115000 | 2367567 |
| Japan Prime Realty Investment Corp. | &nbsp;&nbsp; 443 | 963855 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 838 | 2906608 |
| Japan Securities Finance Co. Ltd. | &nbsp;&nbsp; 94300 | 1074597 |
| Japan Steel Works Ltd. (The) | &nbsp;&nbsp; 45400 | 1290962 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 751000 | 22098309 |
| JCR Pharmaceuticals Co. Ltd. | &nbsp;&nbsp; 53200 | 207578 |
| JCU Corp. | &nbsp;&nbsp; 21300 | 531196 |
| Jeol Ltd. | &nbsp;&nbsp; 33900 | 1364893 |
| JFE Holdings Inc. | &nbsp;&nbsp; 372600 | 5457979 |
| JGC Holdings Corp. | &nbsp;&nbsp; 132300 | 1123584 |
| JINS Holdings Inc. | &nbsp;&nbsp; 15700 | 481924 |
| JMDC Inc. | &nbsp;&nbsp; 27700 | 614787 |
| Joyful Honda Co. Ltd. | &nbsp;&nbsp; 109800 | 1598352 |
| JTEKT Corp. | &nbsp;&nbsp; 153000 | 1099792 |
| JTOWER Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 12700 | 138432 |
| Justsystems Corp. | &nbsp;&nbsp; 24400 | 516214 |
| Kadokawa Corp. | &nbsp;&nbsp; 99900 | 1847427 |
| Kagome Co. Ltd. | &nbsp;&nbsp; 54100 | 1263646 |
| Kajima Corp. | &nbsp;&nbsp; 245300 | 4740059 |
| Kakaku.com Inc. | &nbsp;&nbsp; 105300 | 1472040 |
| Kaken Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 34500 | 938959 |
| Kamigumi Co. Ltd. | &nbsp;&nbsp; 104400 | 2380927 |
| Kanamoto Co. Ltd. | &nbsp;&nbsp; 28700 | 536290 |
| Kandenko Co. Ltd. | &nbsp;&nbsp; 143000 | 1931397 |
| Kaneka Corp. | &nbsp;&nbsp; 16100 | 455210 |
| Kanematsu Corp. | &nbsp;&nbsp; 86800 | 1470142 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 449200 | 7688414 |
| Kansai Paint Co. Ltd. | &nbsp;&nbsp; 120700 | 1982304 |
| Kao Corp. | &nbsp;&nbsp; 286900 | 12563257 |
| Katitas Co. Ltd. | &nbsp;&nbsp; 25100 | 314641 |
| Kato Sangyo Co. Ltd. | &nbsp;&nbsp; 12200 | 347347 |
| Kawasaki Heavy Industries Ltd. | &nbsp;&nbsp; 107600 | 3948018 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 250200 | 3844360 |
| KDDI Corp. | &nbsp;&nbsp; 936300 | 28173272 |
| KDX Realty Investment Corp. | &nbsp;&nbsp; 2454 | 2530013 |
| Keihan Holdings Co. Ltd. | &nbsp;&nbsp; 42400 | 864280 |
| Keikyu Corp. | &nbsp;&nbsp; 127600 | 1008896 |
| Keio Corp. | &nbsp;&nbsp; 62800 | 1572444 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 111400 | 3331870 |
| Kewpie Corp. | &nbsp;&nbsp; 59500 | 1528360 |
| Keyence Corp. | &nbsp;&nbsp; 122700 | 53651817 |
| KH Neochem Co. Ltd. | &nbsp;&nbsp; 19500 | 290852 |
| Kikkoman Corp. | &nbsp;&nbsp; 434300 | 5434806 |
| Kinden Corp. | &nbsp;&nbsp; 132800 | 2801823 |
| Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp; 110300 | 2554568 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 501000 | 7082923 |
| Kissei Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 28900 | 671988 |
| Ki-Star Real Estate Co. Ltd. | &nbsp;&nbsp; 5700 | 131750 |
| Kitz Corp. | &nbsp;&nbsp; 141800 | 1045009 |
| Kiyo Bank Ltd. (The) | &nbsp;&nbsp; 119800 | 1566930 |
| Kobayashi Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 32100 | 1291243 |
| Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 77300 | 2075416 |
| Kobe Steel Ltd. | &nbsp;&nbsp; 212700 | 2654993 |
| Koei Tecmo Holdings Co. Ltd. | &nbsp;&nbsp; 120880 | 1181353 |
| Kohnan Shoji Co. Ltd. | &nbsp;&nbsp; 21900 | 590522 |
| Koito Manufacturing Co. Ltd. | &nbsp;&nbsp; 113200 | 1673810 |
| Kokuyo Co. Ltd. | &nbsp;&nbsp; 70400 | 1181306 |
| Komatsu Ltd. | &nbsp;&nbsp; 588000 | 16715414 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| KOMEDA Holdings Co. Ltd. | &nbsp;&nbsp; 56300 | $1009324 |
| Komeri Co. Ltd. | &nbsp;&nbsp; 22800 | 558215 |
| Konami Group Corp. | &nbsp;&nbsp; 58100 | 4371420 |
| Konica Minolta Inc. | &nbsp;&nbsp; 318100 | 932622 |
| Kose Corp. | &nbsp;&nbsp; 27700 | 1851086 |
| Kotobuki Spirits Co. Ltd. | &nbsp;&nbsp; 86300 | 1108272 |
| K's Holdings Corp. | &nbsp;&nbsp; 81300 | 877492 |
| Kubota Corp. | &nbsp;&nbsp; 662500 | 9524704 |
| Kumagai Gumi Co. Ltd. | &nbsp;&nbsp; 20700 | 496126 |
| Kura Sushi Inc. | &nbsp;&nbsp; 19400 | 502414 |
| Kuraray Co. Ltd. | &nbsp;&nbsp; 156600 | 1915066 |
| Kureha Corp. | &nbsp;&nbsp; 31500 | 625695 |
| Kurita Water Industries Ltd. | &nbsp;&nbsp; 55600 | 2372941 |
| Kusuri no Aoki Holdings Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 39000 | 812507 |
| Kyocera Corp. | &nbsp;&nbsp; 821200 | 10342982 |
| Kyorin Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 40600 | 464013 |
| Kyoritsu Maintenance Co. Ltd. | &nbsp;&nbsp; 57000 | 1106598 |
| Kyoto Financial Group Inc. | &nbsp;&nbsp; 124800 | 2330940 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 148500 | 3132251 |
| Kyudenko Corp. | &nbsp;&nbsp; 34100 | 1570681 |
| Kyushu Electric Power Co. Inc. | &nbsp;&nbsp; 247000 | 2607225 |
| Kyushu Financial Group Inc. | &nbsp;&nbsp; 275600 | 1697584 |
| Kyushu Railway Co. | &nbsp;&nbsp; 70200 | 1873791 |
| LaSalle Logiport REIT | &nbsp;&nbsp; 1002 | 988606 |
| Lasertec Corp. | &nbsp;&nbsp; 50800 | 9013604 |
| Leopalace21 Corp. | &nbsp;&nbsp; 242100 | 889371 |
| Lintec Corp. | &nbsp;&nbsp; 18000 | 404713 |
| Lion Corp. | &nbsp;&nbsp; 164700 | 1425272 |
| LITALICO Inc. | &nbsp;&nbsp; 25300 | 207727 |
| Lixil Corp. | &nbsp;&nbsp; 153100 | 1772311 |
| LY Corp. | &nbsp;&nbsp; 1805300 | 4516707 |
| M&A Capital Partners Co. Ltd. | &nbsp;&nbsp; 10900 | 154384 |
| M3 Inc. | &nbsp;&nbsp; 271400 | 2534131 |
| Mabuchi Motor Co. Ltd. | &nbsp;&nbsp; 92000 | 1414257 |
| Macnica Holdings Inc. | &nbsp;&nbsp; 39400 | 1590108 |
| Makino Milling Machine Co. Ltd. | &nbsp;&nbsp; 18100 | 812077 |
| Makita Corp. | &nbsp;&nbsp; 128700 | 4242264 |
| Mandom Corp. | &nbsp;&nbsp; 17400 | 147445 |
| Mani Inc. | &nbsp;&nbsp; 63400 | 891749 |
| Marubeni Corp. | &nbsp;&nbsp; 902200 | 16979190 |
| Maruha Nichiro Corp. | &nbsp;&nbsp; 26500 | 592600 |
| Marui Group Co. Ltd. | &nbsp;&nbsp; 123700 | 2004166 |
| Maruichi Steel Tube Ltd. | &nbsp;&nbsp; 39500 | 962582 |
| Maruwa Co. Ltd./Aichi | &nbsp;&nbsp; 8600 | 2304069 |
| Maruzen Showa Unyu Co. Ltd. | &nbsp;&nbsp; 12300 | 442443 |
| Matsui Securities Co. Ltd. | &nbsp;&nbsp; 57000 | 319507 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 218770 | 3567678 |
| Mazda Motor Corp. | &nbsp;&nbsp; 413500 | 3566609 |
| McDonald's Holdings Co. Japan Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 49300 | 2042457 |
| Mebuki Financial Group Inc. | &nbsp;&nbsp; 592400 | 2465836 |
| Medipal Holdings Corp. | &nbsp;&nbsp; 113700 | 2052315 |
| Megachips Corp. | &nbsp;&nbsp; 16200 | 454029 |
| Megmilk Snow Brand Co. Ltd. | &nbsp;&nbsp; 31200 | 593437 |
| Meidensha Corp. | &nbsp;&nbsp; 32800 | 748986 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 130400 | 3293169 |
| Meiko Electronics Co. Ltd. | &nbsp;&nbsp; 21100 | 845836 |
| MEITEC Group Holdings Inc. | &nbsp;&nbsp; 51800 | 1169648 |
| Menicon Co. Ltd. | &nbsp;&nbsp; 37800 | 353502 |
| Mercari Inc.<sup>(b)</sup> | &nbsp;&nbsp; 74100 | 1110921 |
| Milbon Co. Ltd. | &nbsp;&nbsp; 16500 | 366990 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 228100 | 5486789 |
| Mirai Corp. | &nbsp;&nbsp; 1919 | 572191 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Mirait One Corp. | &nbsp;&nbsp; 54200 | $770260 |
| MISUMI Group Inc. | &nbsp;&nbsp; 165300 | 3041955 |
| Mitani Sekisan Co. Ltd. | &nbsp;&nbsp; 6700 | 250901 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 806200 | 4761614 |
| Mitsubishi Corp. | &nbsp;&nbsp; 2124300 | 43871157 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 1215400 | 20250710 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 699300 | 11918818 |
| Mitsubishi Estate Logistics REIT Investment Corp. | &nbsp;&nbsp; 528 | 1331017 |
| Mitsubishi Gas Chemical Co. Inc. | &nbsp;&nbsp; 109900 | 2077662 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 457430 | 3290942 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 2072500 | 24841141 |
| Mitsubishi Logistics Corp. | &nbsp;&nbsp; 45200 | 1581042 |
| Mitsubishi Materials Corp. | &nbsp;&nbsp; 108000 | 2023530 |
| Mitsubishi Motors Corp. | &nbsp;&nbsp; 551000 | 1570728 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 7029400 | 81192033 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 1637800 | 38003324 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 117900 | 3408726 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 1743300 | 18060343 |
| Mitsui Fudosan Logistics Park Inc. | &nbsp;&nbsp; 439 | 1236969 |
| Mitsui High-Tec Inc. | &nbsp;&nbsp; 135000 | 1053131 |
| Mitsui Mining & Smelting Co. Ltd. | &nbsp;&nbsp; 38600 | 1286866 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 232600 | 7388109 |
| Miura Co. Ltd. | &nbsp;&nbsp; 49500 | 1149721 |
| Mixi Inc. | &nbsp;&nbsp; 31500 | 625169 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 1520150 | 34750849 |
| Mizuho Leasing Co. Ltd. | &nbsp;&nbsp; 117700 | 888141 |
| Mochida Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 24900 | 584857 |
| Monex Group Inc. | &nbsp;&nbsp; 148700 | 722906 |
| Money Forward Inc.<sup>(b)</sup> | &nbsp;&nbsp; 30500 | 1019186 |
| Monogatari Corp. (The) | &nbsp;&nbsp; 29700 | 674052 |
| MonotaRO Co. Ltd. | &nbsp;&nbsp; 171500 | 2424375 |
| Mori Hills REIT Investment Corp. | &nbsp;&nbsp; 770 | 661742 |
| Mori Trust REIT Inc. | &nbsp;&nbsp; 2421 | 1125115 |
| Morinaga & Co. Ltd./Japan | &nbsp;&nbsp; 63700 | 1222539 |
| Morinaga Milk Industry Co. Ltd. | &nbsp;&nbsp; 48400 | 1161519 |
| MOS Food Services Inc. | &nbsp;&nbsp; 32600 | 768676 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 805200 | 18982216 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 1084700 | 24132377 |
| Musashi Seimitsu Industry Co. Ltd. | &nbsp;&nbsp; 22300 | 311569 |
| Nabtesco Corp. | &nbsp;&nbsp; 50100 | 991824 |
| Nachi-Fujikoshi Corp. | &nbsp;&nbsp; 23300 | 514888 |
| Nagase & Co. Ltd. | &nbsp;&nbsp; 51800 | 1137984 |
| Nagawa Co. Ltd. | &nbsp;&nbsp; 6500 | 332840 |
| Nagoya Railroad Co. Ltd. | &nbsp;&nbsp; 101900 | 1240110 |
| Nakanishi Inc. | &nbsp;&nbsp; 48200 | 832644 |
| Nankai Electric Railway Co. Ltd. | &nbsp;&nbsp; 111200 | 1967974 |
| NEC Corp. | &nbsp;&nbsp; 158000 | 13675632 |
| NEC Networks & System Integration Corp. | &nbsp;&nbsp; 58200 | 1071899 |
| NET One Systems Co. Ltd. | &nbsp;&nbsp; 52400 | 1058808 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 255100 | 5494523 |
| Nextage Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 46200 | 629011 |
| NGK Insulators Ltd. | &nbsp;&nbsp; 134800 | 1821824 |
| NH Foods Ltd. | &nbsp;&nbsp; 50200 | 1658163 |
| NHK Spring Co. Ltd. | &nbsp;&nbsp; 161700 | 1778324 |
| Nichias Corp. | &nbsp;&nbsp; 55800 | 1738107 |
| Nichicon Corp. | &nbsp;&nbsp; 39900 | 292183 |
| Nichiha Corp. | &nbsp;&nbsp; 21600 | 540090 |
| Nichirei Corp. | &nbsp;&nbsp; 75000 | 1977583 |
| Nidec Corp. | &nbsp;&nbsp; 263400 | 11587141 |
| Nifco Inc./Japan | &nbsp;&nbsp; 49300 | 1250010 |
| Nihon Kohden Corp. | &nbsp;&nbsp; 101000 | 1556350 |
| Nihon M&A Center Holdings Inc. | &nbsp;&nbsp; 199500 | 941577 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Nihon Parkerizing Co. Ltd. | &nbsp;&nbsp; 37500 | $309638 |
| Nikkon Holdings Co. Ltd. | &nbsp;&nbsp; 40200 | 1013924 |
| Nikon Corp. | &nbsp;&nbsp; 159100 | 1827365 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 665100 | 36752355 |
| Nippn Corp., New | &nbsp;&nbsp; 72800 | 1144398 |
| Nippon Accommodations Fund Inc. | &nbsp;&nbsp; 292 | 1249466 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 1062 | 4098524 |
| Nippon Ceramic Co. Ltd. | &nbsp;&nbsp; 26100 | 431888 |
| Nippon Densetsu Kogyo Co. Ltd. | &nbsp;&nbsp; 14800 | 199065 |
| Nippon Electric Glass Co. Ltd. | &nbsp;&nbsp; 98400 | 2348010 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 32300 | 1598232 |
| Nippon Gas Co. Ltd. | &nbsp;&nbsp; 77300 | 1204948 |
| Nippon Kayaku Co. Ltd. | &nbsp;&nbsp; 62900 | 526008 |
| Nippon Light Metal Holdings Co. Ltd. | &nbsp;&nbsp; 114570 | 1346546 |
| Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp; 585100 | 3734970 |
| Nippon Paper Industries Co. Ltd. | &nbsp;&nbsp; 34800 | 225352 |
| Nippon Prologis REIT Inc. | &nbsp;&nbsp; 1139 | 1881853 |
| Nippon REIT Investment Corp. | &nbsp;&nbsp; 193 | 424139 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 100400 | 3281246 |
| Nippon Seiki Co. Ltd. | &nbsp;&nbsp; 108500 | 991176 |
| Nippon Shinyaku Co. Ltd. | &nbsp;&nbsp; 33900 | 775141 |
| Nippon Shokubai Co. Ltd. | &nbsp;&nbsp; 53200 | 576856 |
| Nippon Soda Co. Ltd. | &nbsp;&nbsp; 23800 | 855735 |
| Nippon Steel Corp. | &nbsp;&nbsp; 573600 | 12454229 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 18627100 | 19851146 |
| Nippon Yusen KK | &nbsp;&nbsp; 297100 | 9573715 |
| Nipro Corp. | &nbsp;&nbsp; 84500 | 737883 |
| Nishimatsu Construction Co. Ltd. | &nbsp;&nbsp; 19600 | 638832 |
| Nishimatsuya Chain Co. Ltd. | &nbsp;&nbsp; 46300 | 705233 |
| Nishi-Nippon Financial Holdings Inc. | &nbsp;&nbsp; 92100 | 1254006 |
| Nishi-Nippon Railroad Co. Ltd. | &nbsp;&nbsp; 30400 | 504778 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 101700 | 3281446 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 1514200 | 4806259 |
| Nissha Co. Ltd. | &nbsp;&nbsp; 20200 | 246470 |
| Nisshin Oillio Group Ltd. (The) | &nbsp;&nbsp; 22000 | 759190 |
| Nisshin Seifun Group Inc. | &nbsp;&nbsp; 136800 | 1692822 |
| Nisshinbo Holdings Inc. | &nbsp;&nbsp; 79200 | 580374 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 107200 | 3187354 |
| Nissui Corp. | &nbsp;&nbsp; 232000 | 1392558 |
| Niterra Co. Ltd. | &nbsp;&nbsp; 115000 | 3406093 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 49000 | 5992476 |
| Nitta Corp. | &nbsp;&nbsp; 15800 | 429530 |
| Nitto Boseki Co. Ltd. | &nbsp;&nbsp; 20400 | 772049 |
| Nitto Denko Corp. | &nbsp;&nbsp; 92200 | 8006046 |
| Noevir Holdings Co. Ltd. | &nbsp;&nbsp; 19300 | 746219 |
| NOF Corp. | &nbsp;&nbsp; 123900 | 1775546 |
| Nojima Corp. | &nbsp;&nbsp; 59400 | 653210 |
| NOK Corp. | &nbsp;&nbsp; 64300 | 939866 |
| Nomura Co. Ltd. | &nbsp;&nbsp; 40400 | 234623 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 1872500 | 11545100 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 56400 | 1576645 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 2637 | 2587027 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 231100 | 7134448 |
| NS Solutions Corp. | &nbsp;&nbsp; 42600 | 976926 |
| NSD Co. Ltd. | &nbsp;&nbsp; 63300 | 1303063 |
| NSK Ltd. | &nbsp;&nbsp; 264700 | 1387797 |
| NTN Corp. | &nbsp;&nbsp; 538600 | 1089557 |
| NTT Data Group Corp. | &nbsp;&nbsp; 437900 | 6820037 |
| NTT UD REIT Investment Corp. | &nbsp;&nbsp; 791 | 612765 |
| Nxera Pharma Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 62100 | 694863 |
| Obayashi Corp. | &nbsp;&nbsp; 420900 | 5526132 |
| OBIC Business Consultants Co. Ltd. | &nbsp;&nbsp; 30900 | 1307775 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Obic Co. Ltd. | &nbsp;&nbsp; 39800 | $6068826 |
| Odakyu Electric Railway Co. Ltd. | &nbsp;&nbsp; 162600 | 1645052 |
| Ogaki Kyoritsu Bank Ltd. (The) | &nbsp;&nbsp; 14000 | 216589 |
| Ohsho Food Service Corp. | &nbsp;&nbsp; 13900 | 850220 |
| Oji Holdings Corp. | &nbsp;&nbsp; 472400 | 2011932 |
| Okamura Corp. | &nbsp;&nbsp; 57800 | 850373 |
| Oki Electric Industry Co. Ltd. | &nbsp;&nbsp; 74900 | 508305 |
| Okinawa Electric Power Co. Inc. (The) | &nbsp;&nbsp; 20200 | 149154 |
| OKUMA Corp. | &nbsp;&nbsp; 12100 | 604394 |
| Okumura Corp. | &nbsp;&nbsp; 30900 | 1055064 |
| Olympus Corp. | &nbsp;&nbsp; 731300 | 12625224 |
| Omron Corp. | &nbsp;&nbsp; 118000 | 4377074 |
| One REIT Inc. | &nbsp;&nbsp; 211 | 364073 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 232500 | 3429916 |
| Open House Group Co. Ltd. | &nbsp;&nbsp; 46800 | 1657599 |
| Open Up Group Inc. | &nbsp;&nbsp; 89500 | 1294444 |
| Oracle Corp./Japan | &nbsp;&nbsp; 22900 | 1869308 |
| Organo Corp. | &nbsp;&nbsp; 28000 | 1269943 |
| Orient Corp. | &nbsp;&nbsp; 19820 | 138982 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 681000 | 19496691 |
| ORIX Corp. | &nbsp;&nbsp; 736500 | 17815670 |
| Orix JREIT Inc. | &nbsp;&nbsp; 1354 | 1409664 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 220600 | 4993092 |
| OSG Corp. | &nbsp;&nbsp; 40700 | 561517 |
| Otsuka Corp. | &nbsp;&nbsp; 146300 | 3243146 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 260800 | 13292533 |
| PALTAC Corp. | &nbsp;&nbsp; 13500 | 414131 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 236500 | 6170097 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 1490800 | 12211409 |
| Paramount Bed Holdings Co. Ltd. | &nbsp;&nbsp; 29500 | 496718 |
| Park24 Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 107600 | 1151167 |
| Pasona Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 21900 | 344980 |
| Penta-Ocean Construction Co. Ltd. | &nbsp;&nbsp; 148700 | 660147 |
| PeptiDream Inc.<sup>(b)</sup> | &nbsp;&nbsp; 87500 | 1612441 |
| Persol Holdings Co. Ltd. | &nbsp;&nbsp; 1278600 | 2192932 |
| Pigeon Corp. | &nbsp;&nbsp; 95400 | 970692 |
| Pilot Corp. | &nbsp;&nbsp; 20000 | 600757 |
| PKSHA Technology Inc.<sup>(b)</sup> | &nbsp;&nbsp; 30300 | 663091 |
| Pola Orbis Holdings Inc. | &nbsp;&nbsp; 46500 | 438538 |
| Prestige International Inc. | &nbsp;&nbsp; 128900 | 611976 |
| Prima Meat Packers Ltd. | &nbsp;&nbsp; 19800 | 331022 |
| Raito Kogyo Co. Ltd. | &nbsp;&nbsp; 20000 | 290179 |
| Rakus Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 83600 | 1171273 |
| Rakuten Bank Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 66700 | 1486397 |
| Rakuten Group Inc.<sup>(b)</sup> | &nbsp;&nbsp; 930900 | 5461287 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 938900 | 53839616 |
| Relo Group Inc. | &nbsp;&nbsp; 48000 | 573628 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 943000 | 16242112 |
| Rengo Co. Ltd. | &nbsp;&nbsp; 97000 | 676533 |
| RENOVA Inc.<sup>(b)</sup> | &nbsp;&nbsp; 44900 | 275213 |
| Resona Holdings Inc. | &nbsp;&nbsp; 1479000 | 10605813 |
| Resonac Holdings Corp. | &nbsp;&nbsp; 113900 | 2827647 |
| Resorttrust Inc. | &nbsp;&nbsp; 47100 | 795038 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 316600 | 2947326 |
| Riken Keiki Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 30600 | 898400 |
| Rinnai Corp. | &nbsp;&nbsp; 52900 | 1300708 |
| Rohm Co. Ltd. | &nbsp;&nbsp; 182200 | 2484157 |
| Rohto Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 111900 | 2628409 |
| Rorze Corp.<sup>(a)</sup> | &nbsp;&nbsp; 10300 | 1675158 |
| Round One Corp. | &nbsp;&nbsp; 146500 | 872266 |
| RS Technologies Co. Ltd. | &nbsp;&nbsp; 29700 | 640924 |
| Ryohin Keikaku Co. Ltd. | &nbsp;&nbsp; 143200 | 2700432 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Saizeriya Co. Ltd. | &nbsp;&nbsp; 23400 | $901681 |
| Sakai Moving Service Co. Ltd. | &nbsp;&nbsp; 12400 | 219790 |
| Sakata Seed Corp. | &nbsp;&nbsp; 28300 | 652532 |
| SAMTY HOLDINGS Co. Ltd. /Japan | &nbsp;&nbsp; 27300 | 498870 |
| San-A Co. Ltd. | &nbsp;&nbsp; 17600 | 600569 |
| San-Ai Obbli Co. Ltd. | &nbsp;&nbsp; 39100 | 536000 |
| Sangetsu Corp. | &nbsp;&nbsp; 76900 | 1529967 |
| San-In Godo Bank Ltd. (The) | &nbsp;&nbsp; 102600 | 975658 |
| Sanken Electric Co. Ltd. | &nbsp;&nbsp; 20000 | 975979 |
| Sanki Engineering Co. Ltd. | &nbsp;&nbsp; 35200 | 550365 |
| Sankyo Co. Ltd. | &nbsp;&nbsp; 225900 | 2508387 |
| Sankyu Inc. | &nbsp;&nbsp; 25100 | 857361 |
| Sanrio Co. Ltd. | &nbsp;&nbsp; 105200 | 2233534 |
| Sansan Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 53700 | 808681 |
| Santen Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 154300 | 1851783 |
| Sanwa Holdings Corp. | &nbsp;&nbsp; 108400 | 2321953 |
| Sapporo Holdings Ltd. | &nbsp;&nbsp; 56200 | 2414637 |
| Sato Holdings Corp. | &nbsp;&nbsp; 21800 | 314133 |
| Sawai Group Holdings Co. Ltd. | &nbsp;&nbsp; 31900 | 1400396 |
| SBI Holdings Inc. | &nbsp;&nbsp; 155600 | 4044610 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 52200 | 4423412 |
| SCSK Corp. | &nbsp;&nbsp; 94700 | 1864445 |
| Secom Co. Ltd. | &nbsp;&nbsp; 128000 | 8173152 |
| Sega Sammy Holdings Inc. | &nbsp;&nbsp; 129800 | 2101964 |
| Seibu Holdings Inc. | &nbsp;&nbsp; 140800 | 2643083 |
| Seiko Epson Corp. | &nbsp;&nbsp; 150500 | 2605217 |
| Seino Holdings Co. Ltd. | &nbsp;&nbsp; 83900 | 1313101 |
| Seiren Co. Ltd. | &nbsp;&nbsp; 34900 | 549204 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 238700 | 3601504 |
| Sekisui House Ltd. | &nbsp;&nbsp; 415200 | 10403386 |
| Sekisui House REIT Inc. | &nbsp;&nbsp; 2328 | 1230148 |
| Senko Group Holdings Co. Ltd. | &nbsp;&nbsp; 129200 | 987350 |
| Seria Co. Ltd. | &nbsp;&nbsp; 35800 | 837260 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 1395900 | 16715557 |
| Seven Bank Ltd. | &nbsp;&nbsp; 915600 | 1717707 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 168600 | 1714434 |
| Sharp Corp./Japan<sup>(a)(b)</sup> | &nbsp;&nbsp; 150800 | 878225 |
| Shibaura Machine Co. Ltd. | &nbsp;&nbsp; 18500 | 454665 |
| SHIFT Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 8600 | 660627 |
| Shiga Bank Ltd. (The) | &nbsp;&nbsp; 24100 | 647267 |
| Shikoku Electric Power Co. Inc. | &nbsp;&nbsp; 105600 | 920982 |
| Shimadzu Corp. | &nbsp;&nbsp; 155800 | 4595209 |
| Shimamura Co. Ltd. | &nbsp;&nbsp; 36200 | 1774196 |
| Shimano Inc. | &nbsp;&nbsp; 46100 | 8178325 |
| Shimizu Corp. | &nbsp;&nbsp; 291500 | 1832062 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 1138200 | 50570993 |
| Shinko Electric Industries Co. Ltd. | &nbsp;&nbsp; 47500 | 1806639 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 162900 | 7165820 |
| Ship Healthcare Holdings Inc. | &nbsp;&nbsp; 49700 | 758651 |
| Shiseido Co. Ltd. | &nbsp;&nbsp; 246500 | 7703479 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 240800 | 2405181 |
| SHO-BOND Holdings Co. Ltd. | &nbsp;&nbsp; 33700 | 1297873 |
| Shochiku Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6500 | 416438 |
| Shoei Co. Ltd. | &nbsp;&nbsp; 52200 | 691833 |
| Skylark Holdings Co. Ltd. | &nbsp;&nbsp; 131400 | 1800603 |
| SMC Corp. | &nbsp;&nbsp; 35200 | 17127094 |
| SMS Co. Ltd. | &nbsp;&nbsp; 50900 | 741903 |
| Socionext Inc. | &nbsp;&nbsp; 115100 | 2324288 |
| SoftBank Corp. | &nbsp;&nbsp; 1811800 | 23634480 |
| SoftBank Group Corp. | &nbsp;&nbsp; 653800 | 39955297 |
| Sohgo Security Services Co. Ltd. | &nbsp;&nbsp; 185200 | 1184597 |
| Sojitz Corp. | &nbsp;&nbsp; 141260 | 3341233 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Sompo Holdings Inc. | &nbsp;&nbsp; 552000 | $12586657 |
| Sony Group Corp. | &nbsp;&nbsp; 786900 | 69891353 |
| SOSiLA Logistics REIT Inc. | &nbsp;&nbsp; 1113 | 861008 |
| Sotetsu Holdings Inc. | &nbsp;&nbsp; 117200 | 1922349 |
| Square Enix Holdings Co. Ltd. | &nbsp;&nbsp; 49100 | 1658201 |
| Stanley Electric Co. Ltd. | &nbsp;&nbsp; 97500 | 1914306 |
| Star Asia Investment Corp. | &nbsp;&nbsp; 2319 | 875473 |
| Starts Corp. Inc. | &nbsp;&nbsp; 15900 | 366758 |
| Subaru Corp. | &nbsp;&nbsp; 376800 | 7244544 |
| Sugi Holdings Co. Ltd. | &nbsp;&nbsp; 59300 | 1024643 |
| SUMCO Corp. | &nbsp;&nbsp; 193200 | 3176283 |
| Sumitomo Bakelite Co. Ltd. | &nbsp;&nbsp; 55900 | 1573692 |
| Sumitomo Chemical Co. Ltd. | &nbsp;&nbsp; 991000 | 2540382 |
| Sumitomo Corp. | &nbsp;&nbsp; 667000 | 16573310 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 458600 | 6937272 |
| Sumitomo Forestry Co. Ltd. | &nbsp;&nbsp; 91300 | 3893301 |
| Sumitomo Heavy Industries Ltd. | &nbsp;&nbsp; 69100 | 1855701 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 145200 | 4427739 |
| Sumitomo Mitsui Construction Co. Ltd. | &nbsp;&nbsp; 135300 | 358040 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 790800 | 57105977 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 417400 | 10550550 |
| Sumitomo Osaka Cement Co. Ltd. | &nbsp;&nbsp; 12700 | 357598 |
| Sumitomo Pharma Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 124000 | 343776 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 173700 | 5741259 |
| Sumitomo Rubber Industries Ltd. | &nbsp;&nbsp; 137000 | 1427476 |
| Sumitomo Warehouse Co. Ltd. (The) | &nbsp;&nbsp; 30400 | 571675 |
| Sundrug Co. Ltd. | &nbsp;&nbsp; 81300 | 2257730 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 90200 | 3239637 |
| Suruga Bank Ltd. | &nbsp;&nbsp; 251300 | 1994247 |
| Suzuken Co. Ltd. | &nbsp;&nbsp; 42000 | 1530640 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 983200 | 11299113 |
| Sysmex Corp. | &nbsp;&nbsp; 306900 | 5024341 |
| Systena Corp. | &nbsp;&nbsp; 234500 | 527810 |
| T Hasegawa Co. Ltd. | &nbsp;&nbsp; 24300 | 521757 |
| T&D Holdings Inc. | &nbsp;&nbsp; 295200 | 5533742 |
| Tadano Ltd. | &nbsp;&nbsp; 129000 | 959194 |
| Taiheiyo Cement Corp. | &nbsp;&nbsp; 103200 | 2818707 |
| Taikisha Ltd. | &nbsp;&nbsp; 17900 | 617035 |
| Taisei Corp. | &nbsp;&nbsp; 115000 | 4884205 |
| Taiyo Holdings Co. Ltd. | &nbsp;&nbsp; 32100 | 767156 |
| Taiyo Yuden Co. Ltd. | &nbsp;&nbsp; 79500 | 2388985 |
| Takara Bio Inc. | &nbsp;&nbsp; 43500 | 333892 |
| Takara Holdings Inc. | &nbsp;&nbsp; 153500 | 1164582 |
| Takasago Thermal Engineering Co. Ltd. | &nbsp;&nbsp; 39600 | 1559563 |
| Takashimaya Co. Ltd. | &nbsp;&nbsp; 133700 | 2475861 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 988854 | 27761350 |
| Takeuchi Manufacturing Co. Ltd. | &nbsp;&nbsp; 32400 | 1036393 |
| Takuma Co. Ltd. | &nbsp;&nbsp; 118700 | 1378108 |
| TDK Corp. | &nbsp;&nbsp; 247100 | 17238264 |
| TechnoPro Holdings Inc. | &nbsp;&nbsp; 57300 | 1101821 |
| Teijin Ltd. | &nbsp;&nbsp; 79300 | 763106 |
| Terumo Corp. | &nbsp;&nbsp; 877000 | 15723163 |
| THK Co. Ltd. | &nbsp;&nbsp; 95700 | 1806810 |
| TIS Inc. | &nbsp;&nbsp; 133700 | 2864045 |
| TKC Corp. | &nbsp;&nbsp; 19000 | 450009 |
| Toagosei Co. Ltd. | &nbsp;&nbsp; 131600 | 1409812 |
| Tobu Railway Co. Ltd. | &nbsp;&nbsp; 110000 | 1932256 |
| Tocalo Co. Ltd. | &nbsp;&nbsp; 123200 | 1609990 |
| Toda Corp. | &nbsp;&nbsp; 121400 | 877386 |
| Toei Co. Ltd. | &nbsp;&nbsp; 17500 | 450860 |
| Toho Co. Ltd./Tokyo | &nbsp;&nbsp; 74800 | 2686234 |
| Toho Gas Co. Ltd. | &nbsp;&nbsp; 49600 | 1531960 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Toho Holdings Co. Ltd. | &nbsp;&nbsp; 47500 | $1381226 |
| Tohoku Electric Power Co. Inc. | &nbsp;&nbsp; 266000 | 2261709 |
| Tokai Carbon Co. Ltd. | &nbsp;&nbsp; 144000 | 922825 |
| TOKAI Holdings Corp. | &nbsp;&nbsp; 91000 | 611349 |
| Tokai Rika Co. Ltd. | &nbsp;&nbsp; 42300 | 574030 |
| Tokai Tokyo Financial Holdings Inc. | &nbsp;&nbsp; 151500 | 592072 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 1184200 | 46459844 |
| Tokuyama Corp. | &nbsp;&nbsp; 37500 | 735129 |
| Tokyo Century Corp. | &nbsp;&nbsp; 61600 | 656174 |
| Tokyo Electric Power Co. Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 1054800 | 5283240 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 299000 | 62564958 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 233000 | 5104943 |
| Tokyo Kiraboshi Financial Group Inc. | &nbsp;&nbsp; 32700 | 985529 |
| Tokyo Ohka Kogyo Co. Ltd. | &nbsp;&nbsp; 70000 | 1801787 |
| Tokyo Seimitsu Co. Ltd. | &nbsp;&nbsp; 28600 | 1971439 |
| Tokyo Steel Manufacturing Co. Ltd. | &nbsp;&nbsp; 92500 | 1176793 |
| Tokyo Tatemono Co. Ltd. | &nbsp;&nbsp; 113100 | 1972985 |
| Tokyu Construction Co. Ltd. | &nbsp;&nbsp; 94100 | 494811 |
| Tokyu Corp. | &nbsp;&nbsp; 269200 | 3261460 |
| Tokyu Fudosan Holdings Corp. | &nbsp;&nbsp; 304500 | 2198576 |
| Tokyu REIT Inc. | &nbsp;&nbsp; 441 | 445916 |
| Tomy Co. Ltd. | &nbsp;&nbsp; 67700 | 1536143 |
| Topcon Corp. | &nbsp;&nbsp; 71500 | 739530 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 145900 | 4126948 |
| Toray Industries Inc. | &nbsp;&nbsp; 873600 | 4541892 |
| Toridoll Holdings Corp.<sup>(a)</sup> | &nbsp;&nbsp; 36700 | 959805 |
| Toshiba TEC Corp. | &nbsp;&nbsp; 17300 | 387782 |
| Tosoh Corp. | &nbsp;&nbsp; 134500 | 1829646 |
| Totetsu Kogyo Co. Ltd. | &nbsp;&nbsp; 9700 | 210195 |
| TOTO Ltd. | &nbsp;&nbsp; 103600 | 2852645 |
| Towa Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 23400 | 478762 |
| Toyo Gosei Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 5300 | 329285 |
| Toyo Seikan Group Holdings Ltd. | &nbsp;&nbsp; 127300 | 2185779 |
| Toyo Suisan Kaisha Ltd. | &nbsp;&nbsp; 52200 | 3505018 |
| Toyo Tire Corp. | &nbsp;&nbsp; 98700 | 1610374 |
| Toyobo Co. Ltd. | &nbsp;&nbsp; 30300 | 208035 |
| Toyoda Gosei Co. Ltd. | &nbsp;&nbsp; 39700 | 724870 |
| Toyota Boshoku Corp. | &nbsp;&nbsp; 54100 | 729034 |
| Toyota Industries Corp. | &nbsp;&nbsp; 103000 | 8659220 |
| Toyota Motor Corp. | &nbsp;&nbsp; 6715800 | 129015589 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 386400 | 7725302 |
| Trancom Co. Ltd. | &nbsp;&nbsp; 2400 | 106616 |
| Transcosmos Inc. | &nbsp;&nbsp; 11100 | 255567 |
| TRE Holdings Corp. | &nbsp;&nbsp; 50500 | 440861 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 87900 | 4213265 |
| Tri Chemical Laboratories Inc. | &nbsp;&nbsp; 33500 | 826607 |
| Trusco Nakayama Corp. | &nbsp;&nbsp; 29300 | 474303 |
| TS Tech Co. Ltd. | &nbsp;&nbsp; 66600 | 883177 |
| Tsubakimoto Chain Co. | &nbsp;&nbsp; 28400 | 1228167 |
| Tsumura & Co. | &nbsp;&nbsp; 40600 | 1076440 |
| Tsuruha Holdings Inc. | &nbsp;&nbsp; 22300 | 1381571 |
| UACJ Corp. | &nbsp;&nbsp; 22100 | 629239 |
| UBE Corp. | &nbsp;&nbsp; 117100 | 2092284 |
| Ulvac Inc. | &nbsp;&nbsp; 42600 | 2610396 |
| Unicharm Corp. | &nbsp;&nbsp; 245400 | 8221047 |
| United Urban Investment Corp. | &nbsp;&nbsp; 1577 | 1509504 |
| Universal Entertainment Corp. | &nbsp;&nbsp; 23800 | 242775 |
| Ushio Inc. | &nbsp;&nbsp; 67300 | 965053 |
| USS Co. Ltd. | &nbsp;&nbsp; 266000 | 2399189 |
| UT Group Co. Ltd. | &nbsp;&nbsp; 21900 | 474387 |
| Valor Holdings Co. Ltd. | &nbsp;&nbsp; 17900 | 304450 |
| Visional Inc.<sup>(b)</sup> | &nbsp;&nbsp; 18400 | 971477 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Wacoal Holdings Corp. | &nbsp;&nbsp; 44900 | $1308478 |
| Wacom Co. Ltd. | &nbsp;&nbsp; 214900 | 1036339 |
| WealthNavi Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 34700 | 316799 |
| Welcia Holdings Co. Ltd. | &nbsp;&nbsp; 103900 | 1394766 |
| West Holdings Corp. | &nbsp;&nbsp; 16600 | 255813 |
| West Japan Railway Co. | &nbsp;&nbsp; 273000 | 5374560 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 183600 | 3764794 |
| Yamada Holdings Co. Ltd. | &nbsp;&nbsp; 392800 | 1191771 |
| Yamaguchi Financial Group Inc. | &nbsp;&nbsp; 168500 | 2094612 |
| Yamaha Corp. | &nbsp;&nbsp; 102400 | 2433955 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 576000 | 5363698 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 142900 | 1735532 |
| Yamato Kogyo Co. Ltd. | &nbsp;&nbsp; 31700 | 1675239 |
| Yamazaki Baking Co. Ltd. | &nbsp;&nbsp; 84800 | 2096727 |
| Yaoko Co. Ltd. | &nbsp;&nbsp; 14400 | 880711 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 143400 | 4990867 |
| Yokogawa Bridge Holdings Corp. | &nbsp;&nbsp; 33500 | 606237 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 131600 | 3331090 |
| Yokohama Rubber Co. Ltd. (The) | &nbsp;&nbsp; 101300 | 2302482 |
| Yoshinoya Holdings Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 47000 | 904407 |
| Zenkoku Hosho Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 24300 | 1005155 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 57500 | 2340468 |
| Zeon Corp. | &nbsp;&nbsp; 85200 | 752492 |
| Zojirushi Corp. | &nbsp;&nbsp; 24800 | 248354 |
| ZOZO Inc. | &nbsp;&nbsp; 95000 | 2781118 |
|  |  | 3136882300 |
| **Netherlands — 4.0%** | **Netherlands — 4.0%** | **Netherlands — 4.0%** |
| Aalberts NV | &nbsp;&nbsp; 76818 | 2937337 |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 290931 | 5078739 |
| Adyen NV<sup>(b)(c)</sup> | &nbsp;&nbsp; 13822 | 16907597 |
| Aegon Ltd. | &nbsp;&nbsp; 911562 | 5898948 |
| AerCap Holdings NV | &nbsp;&nbsp; 132538 | 12451945 |
| Akzo Nobel NV | &nbsp;&nbsp; 109183 | 6751026 |
| Alfen NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 18126 | 335125 |
| Allfunds Group PLC | &nbsp;&nbsp; 351497 | 2112655 |
| Arcadis NV | &nbsp;&nbsp; 35621 | 2544092 |
| ASM International NV | &nbsp;&nbsp; 26955 | 18545605 |
| ASML Holding NV | &nbsp;&nbsp; 253862 | 236389011 |
| ASR Nederland NV | &nbsp;&nbsp; 97671 | 4907210 |
| Basic-Fit NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 43978 | 1063900 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 50779 | 6541585 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 135604 | 10003507 |
| Corbion NV | &nbsp;&nbsp; 45723 | 1023524 |
| DSM-Firmenich AG | &nbsp;&nbsp; 117168 | 14958709 |
| Eurocommercial Properties NV | &nbsp;&nbsp; 46168 | 1149922 |
| EXOR NV, NVS | &nbsp;&nbsp; 64338 | 6595443 |
| Flow Traders Ltd., NVS | &nbsp;&nbsp; 36131 | 602322 |
| Fugro NV | &nbsp;&nbsp; 88375 | 2360318 |
| Heineken Holding NV | &nbsp;&nbsp; 92908 | 6846433 |
| Heineken NV | &nbsp;&nbsp; 178704 | 15858327 |
| IMCD NV | &nbsp;&nbsp; 37679 | 5417993 |
| ING Groep NV | &nbsp;&nbsp; 2093923 | 38006678 |
| InPost SA<sup>(b)</sup> | &nbsp;&nbsp; 126466 | 2191091 |
| JDE Peet's NV | &nbsp;&nbsp; 76480 | 1681848 |
| Just Eat Takeaway.com NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 128330 | 1635486 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 590951 | 19037598 |
| Koninklijke KPN NV | &nbsp;&nbsp; 2419809 | 9534493 |
| Koninklijke Philips NV<sup>(b)</sup> | &nbsp;&nbsp; 510152 | 14330007 |
| Koninklijke Vopak NV | &nbsp;&nbsp; 58389 | 2608416 |
| NN Group NV | &nbsp;&nbsp; 163219 | 8191008 |
| OCI NV | &nbsp;&nbsp; 72924 | 1757496 |
| Pharming Group NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 1053555 | 911988 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| PostNL NV | &nbsp;&nbsp; 261975 | $386807 |
| Prosus NV | &nbsp;&nbsp; 919978 | 32091852 |
| Randstad NV | &nbsp;&nbsp; 72663 | 3539049 |
| Royal BAM Group NV | &nbsp;&nbsp; 248712 | 1030756 |
| SBM Offshore NV | &nbsp;&nbsp; 139097 | 2254241 |
| Signify NV<sup>(c)</sup> | &nbsp;&nbsp; 92734 | 2295572 |
| TKH Group NV | &nbsp;&nbsp; 34891 | 1528983 |
| Universal Music Group NV | &nbsp;&nbsp; 518582 | 12354943 |
| Wolters Kluwer NV | &nbsp;&nbsp; 157702 | 26400779 |
|  |  | 569050364 |
| **New Zealand — 0.2%** | **New Zealand — 0.2%** | **New Zealand — 0.2%** |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 797573 | 3550573 |
| Contact Energy Ltd. | &nbsp;&nbsp; 570301 | 2885024 |
| EBOS Group Ltd. | &nbsp;&nbsp; 106911 | 2290610 |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 370837 | 7158946 |
| Fletcher Building Ltd. | &nbsp;&nbsp; 667653 | 1239743 |
| Goodman Property Trust | &nbsp;&nbsp; 1029533 | 1265280 |
| Infratil Ltd. | &nbsp;&nbsp; 532663 | 3421970 |
| Mercury NZ Ltd. | &nbsp;&nbsp; 395891 | 1621028 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 922380 | 3568203 |
| Ryman Healthcare Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 491098 | 1327479 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 1266593 | 3255122 |
|  |  | 31583978 |
| **Norway — 0.7%** | **Norway — 0.7%** | **Norway — 0.7%** |
| Aker ASA, Class A | &nbsp;&nbsp; 21677 | 1271609 |
| Aker BP ASA | &nbsp;&nbsp; 206774 | 5006866 |
| Atea ASA | &nbsp;&nbsp; 71888 | 956697 |
| Austevoll Seafood ASA<sup>(a)</sup> | &nbsp;&nbsp; 99335 | 820373 |
| Avance Gas Holding Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 36134 | 555724 |
| Bakkafrost P/F | &nbsp;&nbsp; 32548 | 1700134 |
| Borr Drilling Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 185443 | 1259964 |
| Borregaard ASA<sup>(a)</sup> | &nbsp;&nbsp; 81897 | 1403657 |
| DNB Bank ASA | &nbsp;&nbsp; 568707 | 11749508 |
| DNO ASA | &nbsp;&nbsp; 946932 | 964313 |
| Entra ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 51277 | 576402 |
| Equinor ASA | &nbsp;&nbsp; 567321 | 15022771 |
| Frontline PLC, NVS | &nbsp;&nbsp; 122803 | 3026573 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 130646 | 2210239 |
| Golden Ocean Group Ltd. | &nbsp;&nbsp; 151026 | 1876994 |
| Hafnia Ltd. | &nbsp;&nbsp; 255799 | 2026809 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 59998 | 6033077 |
| Leroy Seafood Group ASA | &nbsp;&nbsp; 235851 | 1024631 |
| Mowi ASA | &nbsp;&nbsp; 295821 | 4993018 |
| NEL ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 1420245 | 765203 |
| Nordic Semiconductor ASA<sup>(b)</sup> | &nbsp;&nbsp; 141415 | 1749070 |
| Norsk Hydro ASA | &nbsp;&nbsp; 903455 | 5011335 |
| Orkla ASA | &nbsp;&nbsp; 478672 | 4039749 |
| Salmar ASA | &nbsp;&nbsp; 40817 | 2348399 |
| Scatec ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 124726 | 1006743 |
| Schibsted ASA, Class A | &nbsp;&nbsp; 26781 | 769758 |
| Schibsted ASA, Class B | &nbsp;&nbsp; 92773 | 2521994 |
| Seadrill Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 30042 | 1654323 |
| SpareBank 1 SMN | &nbsp;&nbsp; 154673 | 2308768 |
| SpareBank 1 SR-Bank ASA | &nbsp;&nbsp; 150756 | 1935346 |
| Storebrand ASA | &nbsp;&nbsp; 281922 | 2829640 |
| Subsea 7 SA | &nbsp;&nbsp; 166466 | 3201976 |
| Telenor ASA | &nbsp;&nbsp; 413993 | 4932734 |
| TGS ASA | &nbsp;&nbsp; 126700 | 1549305 |
| TOMRA Systems ASA | &nbsp;&nbsp; 176120 | 2903037 |
| Yara International ASA | &nbsp;&nbsp; 112116 | 3193775 |
|  |  | 105200514 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Portugal — 0.2%** | **Portugal — 0.2%** | **Portugal — 0.2%** |
| Banco Comercial Portugues SA, Class R | &nbsp;&nbsp; 6415956 | $2704663 |
| EDP Renovaveis SA | &nbsp;&nbsp; 185526 | 2884193 |
| EDP SA | &nbsp;&nbsp; 2081854 | 8580289 |
| Galp Energia SGPS SA | &nbsp;&nbsp; 304355 | 6399493 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 163077 | 2850315 |
| Navigator Co. SA (The) | &nbsp;&nbsp; 215938 | 876153 |
| NOS SGPS SA | &nbsp;&nbsp; 167823 | 645682 |
| REN - Redes Energeticas Nacionais SGPS SA | &nbsp;&nbsp; 534042 | 1354328 |
| Sonae SGPS SA | &nbsp;&nbsp; 978657 | 998245 |
|  |  | 27293361 |
| **Singapore — 1.3%** | **Singapore — 1.3%** | **Singapore — 1.3%** |
| BW LPG Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 70866 | 1151590 |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 2191812 | 4474712 |
| CapitaLand Ascott Trust<sup>(a)</sup> | &nbsp;&nbsp; 2218668 | 1498000 |
| CapitaLand China Trust<sup>(a)</sup> | &nbsp;&nbsp; 703380 | 363318 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 3935935 | 6148074 |
| CapitaLand Investment Ltd./Singapore<sup>(a)</sup> | &nbsp;&nbsp; 1687700 | 3421867 |
| CDL Hospitality Trusts<sup>(a)</sup> | &nbsp;&nbsp; 559690 | 404946 |
| City Developments Ltd. | &nbsp;&nbsp; 453200 | 1806752 |
| ComfortDelGro Corp. Ltd. | &nbsp;&nbsp; 2036400 | 2136419 |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 1246840 | 34167668 |
| ESR-LOGOS REIT | &nbsp;&nbsp; 4059951 | 835256 |
| Frasers Centrepoint Trust | &nbsp;&nbsp; 1025819 | 1699496 |
| Frasers Logistics & Commercial Trust | &nbsp;&nbsp; 2010687 | 1494602 |
| Genting Singapore Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4529900 | 2878538 |
| Golden Agri-Resources Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4327500 | 890299 |
| Grab Holdings Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 1329522 | 4387423 |
| Keppel DC REIT | &nbsp;&nbsp; 912350 | 1385221 |
| Keppel Infrastructure Trust<sup>(a)</sup> | &nbsp;&nbsp; 5020425 | 1806962 |
| Keppel Ltd. | &nbsp;&nbsp; 1003400 | 4993787 |
| Keppel REIT<sup>(a)</sup> | &nbsp;&nbsp; 1312240 | 860166 |
| Mapletree Industrial Trust | &nbsp;&nbsp; 1354240 | 2349757 |
| Mapletree Logistics Trust<sup>(a)</sup> | &nbsp;&nbsp; 2624334 | 2544330 |
| Mapletree Pan Asia Commercial Trust | &nbsp;&nbsp; 1512800 | 1455012 |
| NetLink NBN Trust | &nbsp;&nbsp; 1911600 | 1215576 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 2106100 | 23442251 |
| Paragon REIT | &nbsp;&nbsp; 1293650 | 851659 |
| Parkway Life REIT | &nbsp;&nbsp; 322200 | 876546 |
| SATS Ltd. | &nbsp;&nbsp; 1024763 | 2519197 |
| Sea Ltd., ADR<sup>(b)</sup> | &nbsp;&nbsp; 232576 | 15280243 |
| Seatrium Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1644759 | 2071145 |
| Sembcorp Industries Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 562100 | 2009827 |
| Singapore Airlines Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 962500 | 5029938 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 524700 | 3868562 |
| Singapore Post Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 846300 | 278576 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 1069500 | 3540876 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 5214200 | 12079566 |
| Starhill Global REIT | &nbsp;&nbsp; 1300300 | 481521 |
| Suntec REIT<sup>(a)</sup> | &nbsp;&nbsp; 1022100 | 904471 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 783600 | 19001266 |
| UOL Group Ltd. | &nbsp;&nbsp; 291700 | 1178560 |
| Venture Corp. Ltd. | &nbsp;&nbsp; 169500 | 1918803 |
| Wilmar International Ltd. | &nbsp;&nbsp; 1282700 | 3058641 |
| Yangzijiang Financial Holding Ltd. | &nbsp;&nbsp; 1547400 | 394644 |
| Yangzijiang Shipbuilding Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2154300 | 4343629 |
|  |  | 187499692 |
| **Spain — 2.3%** | **Spain — 2.3%** | **Spain — 2.3%** |
| Acciona SA | &nbsp;&nbsp; 14111 | 1829400 |
| Acerinox SA | &nbsp;&nbsp; 127404 | 1338697 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 134724 | 6019020 |
| Aena SME SA<sup>(c)</sup> | &nbsp;&nbsp; 47629 | 9049445 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Almirall SA | &nbsp;&nbsp; 86859 | $865885 |
| Amadeus IT Group SA | &nbsp;&nbsp; 279508 | 18408627 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 3687615 | 38650673 |
| Banco de Sabadell SA | &nbsp;&nbsp; 3827288 | 8076513 |
| Banco Santander SA | &nbsp;&nbsp; 10090011 | 48675700 |
| Bankinter SA | &nbsp;&nbsp; 539560 | 4608623 |
| CaixaBank SA | &nbsp;&nbsp; 2340805 | 13652133 |
| Cellnex Telecom SA<sup>(c)</sup> | &nbsp;&nbsp; 303056 | 10569596 |
| Cia. de Distribucion Integral Logista Holdings SA | &nbsp;&nbsp; 58292 | 1726269 |
| Cie. Automotive SA | &nbsp;&nbsp; 29805 | 870586 |
| Construcciones y Auxiliar de Ferrocarriles SA | &nbsp;&nbsp; 12973 | 491150 |
| Enagas SA | &nbsp;&nbsp; 149607 | 2242901 |
| Endesa SA | &nbsp;&nbsp; 226263 | 4390452 |
| Faes Farma SA | &nbsp;&nbsp; 271988 | 1041267 |
| Ferrovial SE | &nbsp;&nbsp; 320786 | 12756298 |
| Fluidra SA | &nbsp;&nbsp; 88972 | 1982182 |
| Gestamp Automocion SA<sup>(c)</sup> | &nbsp;&nbsp; 98954 | 286996 |
| Grifols SA<sup>(b)</sup> | &nbsp;&nbsp; 201641 | 2036684 |
| Iberdrola SA | &nbsp;&nbsp; 3750801 | 49541305 |
| Indra Sistemas SA | &nbsp;&nbsp; 79908 | 1602465 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 697681 | 33899526 |
| Inmobiliaria Colonial SOCIMI SA | &nbsp;&nbsp; 240602 | 1399646 |
| Laboratorios Farmaceuticos Rovi SA | &nbsp;&nbsp; 18141 | 1745422 |
| Linea Directa Aseguradora SA Cia de Seguros <br> y Reaseguros<br>| &nbsp;&nbsp; 610501 | 730750 |
| Mapfre SA | &nbsp;&nbsp; 768794 | 1863119 |
| Melia Hotels International SA | &nbsp;&nbsp; 109055 | 835015 |
| Merlin Properties SOCIMI SA | &nbsp;&nbsp; 304221 | 3474164 |
| Neinor Homes SA<sup>(c)</sup> | &nbsp;&nbsp; 25944 | 365013 |
| Pharma Mar SA<sup>(a)</sup> | &nbsp;&nbsp; 16673 | 701156 |
| Prosegur Cia. de Seguridad SA | &nbsp;&nbsp; 64555 | 119888 |
| Redeia Corp. SA | &nbsp;&nbsp; 57325 | 1017798 |
| Repsol SA | &nbsp;&nbsp; 810772 | 11563976 |
| Sacyr SA | &nbsp;&nbsp; 352464 | 1245249 |
| Solaria Energia y Medio Ambiente SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 62224 | 743067 |
| Tecnicas Reunidas SA<sup>(b)</sup> | &nbsp;&nbsp; 46927 | 585459 |
| Telefonica SA | &nbsp;&nbsp; 2861571 | 12960738 |
| Vidrala SA | &nbsp;&nbsp; 13584 | 1413720 |
| Viscofan SA | &nbsp;&nbsp; 29765 | 1984667 |
|  |  | 317361240 |
| **Sweden — 3.2%** | **Sweden — 3.2%** | **Sweden — 3.2%** |
| AAK AB | &nbsp;&nbsp; 146804 | 4224587 |
| AddTech AB, Class B | &nbsp;&nbsp; 184886 | 5966061 |
| AFRY AB | &nbsp;&nbsp; 66223 | 1200351 |
| Alfa Laval AB | &nbsp;&nbsp; 182819 | 8083532 |
| Alleima AB, NVS | &nbsp;&nbsp; 173446 | 1260424 |
| Arjo AB, Class B | &nbsp;&nbsp; 199969 | 775010 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 648114 | 19737857 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 1715168 | 30525971 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 964128 | 15084661 |
| Avanza Bank Holding AB | &nbsp;&nbsp; 102593 | 2304632 |
| Axfood AB | &nbsp;&nbsp; 77543 | 1923152 |
| Beijer Ref AB, Class B | &nbsp;&nbsp; 241516 | 3835185 |
| Billerud Aktiebolag | &nbsp;&nbsp; 140922 | 1419027 |
| Biotage AB | &nbsp;&nbsp; 63353 | 1187884 |
| Boliden AB | &nbsp;&nbsp; 183760 | 5619858 |
| Bravida Holding AB<sup>(c)</sup> | &nbsp;&nbsp; 135793 | 1099132 |
| Bure Equity AB | &nbsp;&nbsp; 61204 | 2292970 |
| Castellum AB<sup>(b)</sup> | &nbsp;&nbsp; 266150 | 3333983 |
| Catena AB | &nbsp;&nbsp; 32167 | 1637563 |
| Corem Property Group AB, Class B | &nbsp;&nbsp; 844167 | 753849 |
| Dios Fastigheter AB | &nbsp;&nbsp; 98852 | 793455 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Dometic Group AB<sup>(c)</sup> | &nbsp;&nbsp; 243906 | $1673444 |
| Electrolux AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 160593 | 1430467 |
| Electrolux Professional AB, Class B | &nbsp;&nbsp; 245575 | 1545816 |
| Elekta AB, Class B | &nbsp;&nbsp; 300400 | 1885943 |
| Embracer Group AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 489155 | 1251601 |
| Epiroc AB | &nbsp;&nbsp; 415422 | 7754006 |
| Epiroc AB, Class B | &nbsp;&nbsp; 236306 | 3973347 |
| EQT AB | &nbsp;&nbsp; 240004 | 7771301 |
| Essity AB, Class B | &nbsp;&nbsp; 374224 | 10521800 |
| Evolution AB<sup>(c)</sup> | &nbsp;&nbsp; 118406 | 11469900 |
| Fabege AB | &nbsp;&nbsp; 186790 | 1566351 |
| Fastighets AB Balder, Class B<sup>(b)</sup> | &nbsp;&nbsp; 359666 | 2652298 |
| Fortnox AB | &nbsp;&nbsp; 401983 | 2485278 |
| Getinge AB, Class B | &nbsp;&nbsp; 155718 | 3040838 |
| Granges AB | &nbsp;&nbsp; 93775 | 1144795 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 364919 | 5677207 |
| Hemnet Group AB | &nbsp;&nbsp; 78347 | 2895617 |
| Hexagon AB, Class B | &nbsp;&nbsp; 1328934 | 13534455 |
| Hexatronic Group AB<sup>(b)</sup> | &nbsp;&nbsp; 135931 | 803523 |
| Hexpol AB | &nbsp;&nbsp; 228525 | 2555814 |
| Holmen AB, Class B | &nbsp;&nbsp; 39053 | 1535252 |
| Hufvudstaden AB, Class A | &nbsp;&nbsp; 85675 | 1038351 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 324502 | 2191409 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 80279 | 2753905 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 100941 | 3421609 |
| Indutrade AB | &nbsp;&nbsp; 172464 | 5071313 |
| Instalco AB<sup>(a)</sup> | &nbsp;&nbsp; 262202 | 1248913 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 94320 | 2769843 |
| Investor AB, Class B | &nbsp;&nbsp; 1085571 | 30819488 |
| JM AB | &nbsp;&nbsp; 57073 | 1112675 |
| Kindred Group PLC | &nbsp;&nbsp; 151560 | 1790268 |
| Kinnevik AB | &nbsp;&nbsp; 166458 | 1395671 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 35614 | 1800414 |
| Lifco AB, Class B | &nbsp;&nbsp; 175550 | 5207954 |
| Lindab International AB | &nbsp;&nbsp; 86928 | 2150664 |
| Loomis AB, Class B | &nbsp;&nbsp; 84746 | 2700450 |
| Millicom International Cellular SA, SDR<sup>(b)</sup> | &nbsp;&nbsp; 86872 | 2162649 |
| MIPS AB | &nbsp;&nbsp; 31189 | 1552985 |
| Modern Times Group MTG AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 97866 | 751509 |
| Munters Group AB<sup>(c)</sup> | &nbsp;&nbsp; 104091 | 2253569 |
| Mycronic AB | &nbsp;&nbsp; 63806 | 2237432 |
| NCAB Group AB | &nbsp;&nbsp; 160305 | 1172714 |
| NCC AB, Class B | &nbsp;&nbsp; 84834 | 1309815 |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 959055 | 4214322 |
| Nolato AB, Class B | &nbsp;&nbsp; 259962 | 1396017 |
| Nordnet AB publ | &nbsp;&nbsp; 133961 | 2736817 |
| Nyfosa AB | &nbsp;&nbsp; 130633 | 1336953 |
| Pandox AB, Class B | &nbsp;&nbsp; 76912 | 1426815 |
| Peab AB, Class B | &nbsp;&nbsp; 154572 | 1152849 |
| Saab AB | &nbsp;&nbsp; 215658 | 4979762 |
| Sagax AB, Class B | &nbsp;&nbsp; 133703 | 3303050 |
| Samhallsbyggnadsbolaget i Norden AB | &nbsp;&nbsp; 804782 | 510174 |
| Sandvik AB | &nbsp;&nbsp; 657321 | 13456558 |
| Sectra AB, Class B | &nbsp;&nbsp; 103239 | 2350669 |
| Securitas AB, Class B | &nbsp;&nbsp; 258133 | 2776892 |
| Sinch AB<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 443671 | 1202539 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 995254 | 15306497 |
| Skanska AB, Class B | &nbsp;&nbsp; 212105 | 4147027 |
| SKF AB, Class B | &nbsp;&nbsp; 231236 | 4298876 |
| SSAB AB, Class B | &nbsp;&nbsp; 484802 | 2457319 |
| Stillfront Group AB<sup>(b)</sup> | &nbsp;&nbsp; 414128 | 346258 |
| Storskogen Group AB | &nbsp;&nbsp; 1012693 | 822294 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 394949 | $5368810 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 917381 | 9259919 |
| Sweco AB, Class B | &nbsp;&nbsp; 139958 | 2261931 |
| Swedbank AB, Class A | &nbsp;&nbsp; 543846 | 11564309 |
| Swedish Orphan Biovitrum AB<sup>(b)</sup> | &nbsp;&nbsp; 132320 | 3457134 |
| Tele2 AB, Class B | &nbsp;&nbsp; 370593 | 3815500 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 1768461 | 12159688 |
| Telia Co. AB | &nbsp;&nbsp; 1583526 | 4602317 |
| Thule Group AB<sup>(c)</sup> | &nbsp;&nbsp; 67597 | 1868877 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 157119 | 5838946 |
| Troax Group AB | &nbsp;&nbsp; 40753 | 925698 |
| Vitec Software Group AB, Class B | &nbsp;&nbsp; 33377 | 1746042 |
| Vitrolife AB | &nbsp;&nbsp; 58566 | 1259535 |
| Volvo AB, Class A | &nbsp;&nbsp; 126736 | 3294692 |
| Volvo AB, Class B | &nbsp;&nbsp; 997127 | 25447430 |
| Volvo Car AB<sup>(b)</sup> | &nbsp;&nbsp; 487397 | 1382910 |
| Wallenstam AB, Class B | &nbsp;&nbsp; 276116 | 1392778 |
| Wihlborgs Fastigheter AB | &nbsp;&nbsp; 296813 | 3006429 |
|  |  | 444016430 |
| **Switzerland — 8.1%** | **Switzerland — 8.1%** | **Switzerland — 8.1%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 1012717 | 56212488 |
| Accelleron Industries AG, NVS | &nbsp;&nbsp; 68487 | 3389054 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 108814 | 3703845 |
| Alcon Inc. | &nbsp;&nbsp; 317246 | 30038289 |
| Allreal Holding AG, Registered | &nbsp;&nbsp; 9356 | 1667954 |
| ALSO Holding AG, Registered | &nbsp;&nbsp; 5593 | 1695747 |
| ams-OSRAM AG<sup>(b)</sup> | &nbsp;&nbsp; 702195 | 942809 |
| Aryzta AG<sup>(b)</sup> | &nbsp;&nbsp; 704584 | 1348866 |
| Avolta AG, Registered | &nbsp;&nbsp; 70678 | 2666782 |
| Bachem Holding AG | &nbsp;&nbsp; 24937 | 2237889 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 30758 | 5504491 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 21419 | 2273571 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 2409 | 3876109 |
| Belimo Holding AG, Registered | &nbsp;&nbsp; 6332 | 3838586 |
| BKW AG | &nbsp;&nbsp; 13704 | 2478936 |
| Bossard Holding AG, Class A, Registered | &nbsp;&nbsp; 3955 | 1008051 |
| Bucher Industries AG, Registered | &nbsp;&nbsp; 3816 | 1545972 |
| Burckhardt Compression Holding AG | &nbsp;&nbsp; 2634 | 1835241 |
| Bystronic AG, Registered | &nbsp;&nbsp; 512 | 184178 |
| Cembra Money Bank AG | &nbsp;&nbsp; 24199 | 2113106 |
| Chocoladefabriken Lindt & Spruengli AG, <br> Participation Certificates, NVS<br>| &nbsp;&nbsp; 586 | 7344690 |
| Chocoladefabriken Lindt & Spruengli <br> AG, Registered<br>| &nbsp;&nbsp; 64 | 7925016 |
| Cie. Financiere Richemont SA, Class A, Registered | &nbsp;&nbsp; 339658 | 51808480 |
| Clariant AG, Registered | &nbsp;&nbsp; 156924 | 2327741 |
| Comet Holding AG, Registered | &nbsp;&nbsp; 6967 | 2791541 |
| Daetwyler Holding AG, Bearer | &nbsp;&nbsp; 5399 | 1123164 |
| DKSH Holding AG | &nbsp;&nbsp; 19160 | 1501804 |
| DocMorris AG<sup>(b)</sup> | &nbsp;&nbsp; 9760 | 494425 |
| dormakaba Holding AG | &nbsp;&nbsp; 2622 | 1588040 |
| Emmi AG, Registered | &nbsp;&nbsp; 1547 | 1626751 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 4634 | 3875118 |
| Flughafen Zurich AG, Registered | &nbsp;&nbsp; 15330 | 3547878 |
| Forbo Holding AG, Registered | &nbsp;&nbsp; 698 | 751859 |
| Galenica AG<sup>(c)</sup> | &nbsp;&nbsp; 27270 | 2371895 |
| Geberit AG, Registered | &nbsp;&nbsp; 21428 | 13642482 |
| Georg Fischer AG<sup>(a)</sup> | &nbsp;&nbsp; 62314 | 4578582 |
| Givaudan SA, Registered | &nbsp;&nbsp; 5784 | 28376619 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 29231 | 4360653 |
| Holcim AG | &nbsp;&nbsp; 339662 | 31741552 |
| Huber + Suhner AG, Registered | &nbsp;&nbsp; 13516 | 1183522 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Inficon Holding AG, Registered | &nbsp;&nbsp; 1514 | $2257480 |
| Interroll Holding AG, Registered | &nbsp;&nbsp; 506 | 1634991 |
| Intershop Holding AG | &nbsp;&nbsp; 6249 | 833877 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 140786 | 7704883 |
| Kardex Holding AG, Registered | &nbsp;&nbsp; 6247 | 1902462 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 30660 | 9504312 |
| Landis+Gyr Group AG | &nbsp;&nbsp; 18351 | 1662254 |
| Logitech International SA, Registered | &nbsp;&nbsp; 108785 | 9798931 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 47410 | 31570753 |
| Medmix AG<sup>(c)</sup> | &nbsp;&nbsp; 25263 | 348832 |
| Mobilezone Holding AG, Registered | &nbsp;&nbsp; 51332 | 837079 |
| Mobimo Holding AG, Registered | &nbsp;&nbsp; 6072 | 1818611 |
| Nestle SA, Registered | &nbsp;&nbsp; 1691376 | 171323860 |
| Novartis AG, Registered | &nbsp;&nbsp; 1251175 | 139665943 |
| OC Oerlikon Corp. AG, Registered | &nbsp;&nbsp; 165345 | 930090 |
| Partners Group Holding AG | &nbsp;&nbsp; 15094 | 20317169 |
| PSP Swiss Property AG, Registered | &nbsp;&nbsp; 29244 | 3907904 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 21032 | 7397204 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 444569 | 143933385 |
| Sandoz Group AG | &nbsp;&nbsp; 262960 | 11405430 |
| Schindler Holding AG, Participation <br> Certificates, NVS<br>| &nbsp;&nbsp; 24470 | 6549492 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 14912 | 3914988 |
| Schweiter Technologies AG, NVS | &nbsp;&nbsp; 343 | 160998 |
| SFS Group AG | &nbsp;&nbsp; 14250 | 2081029 |
| SGS SA | &nbsp;&nbsp; 95414 | 10431925 |
| Siegfried Holding AG, Registered | &nbsp;&nbsp; 2310 | 2692427 |
| SIG Group AG | &nbsp;&nbsp; 177359 | 3724554 |
| Sika AG, Registered | &nbsp;&nbsp; 96283 | 29233071 |
| Softwareone Holding AG | &nbsp;&nbsp; 81231 | 1621814 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 33781 | 10355091 |
| Stadler Rail AG | &nbsp;&nbsp; 37319 | 1142159 |
| Straumann Holding AG | &nbsp;&nbsp; 72937 | 9405351 |
| Sulzer AG, Registered | &nbsp;&nbsp; 15132 | 2249641 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 21223 | 4370981 |
| Swatch Group AG (The), Registered | &nbsp;&nbsp; 22878 | 927647 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 20172 | 15445981 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 51256 | 5136892 |
| Swiss Re AG | &nbsp;&nbsp; 197147 | 24304941 |
| Swisscom AG, Registered | &nbsp;&nbsp; 16763 | 10259661 |
| Swissquote Group Holding SA, Registered | &nbsp;&nbsp; 8062 | 2571353 |
| Tecan Group AG, Registered | &nbsp;&nbsp; 8105 | 3026538 |
| Temenos AG, Registered | &nbsp;&nbsp; 46430 | 3224029 |
| UBS Group AG, Registered | &nbsp;&nbsp; 2088157 | 63272561 |
| Valiant Holding AG, Registered | &nbsp;&nbsp; 9415 | 1069411 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 17342 | 8690699 |
| Vontobel Holding AG, Registered | &nbsp;&nbsp; 15355 | 1006096 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 92125 | 50647573 |
|  |  | 1147796129 |
| **United Kingdom — 13.5%** | **United Kingdom — 13.5%** | **United Kingdom — 13.5%** |
| 3i Group PLC | &nbsp;&nbsp; 622773 | 25054601 |
| 4imprint Group PLC | &nbsp;&nbsp; 20823 | 1625955 |
| abrdn PLC | &nbsp;&nbsp; 1291180 | 2823794 |
| Admiral Group PLC | &nbsp;&nbsp; 161266 | 5715203 |
| Airtel Africa PLC<sup>(c)</sup> | &nbsp;&nbsp; 847439 | 1242457 |
| AJ Bell PLC | &nbsp;&nbsp; 319638 | 1886080 |
| Anglo American PLC | &nbsp;&nbsp; 799573 | 24240110 |
| Antofagasta PLC | &nbsp;&nbsp; 251229 | 6541800 |
| AO World PLC<sup>(b)</sup> | &nbsp;&nbsp; 329697 | 496743 |
| Ascential PLC | &nbsp;&nbsp; 282248 | 2071839 |
| Ashmore Group PLC | &nbsp;&nbsp; 597848 | 1326695 |
| Ashtead Group PLC | &nbsp;&nbsp; 275960 | 19915316 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| ASOS PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 76719 | $357027 |
| Associated British Foods PLC | &nbsp;&nbsp; 208256 | 6648627 |
| Assura PLC | &nbsp;&nbsp; 2100057 | 1102081 |
| Aston Martin Lagonda Global Holdings PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 383075 | 767983 |
| AstraZeneca PLC | &nbsp;&nbsp; 982238 | 156048911 |
| Auto Trader Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 572292 | 5994679 |
| Aviva PLC | &nbsp;&nbsp; 1628742 | 10492156 |
| B&M European Value Retail SA | &nbsp;&nbsp; 554661 | 3340155 |
| BAE Systems PLC | &nbsp;&nbsp; 1903947 | 31754227 |
| Balfour Beatty PLC | &nbsp;&nbsp; 339574 | 1838704 |
| Bank of Georgia Group PLC | &nbsp;&nbsp; 24792 | 1457502 |
| Barclays PLC | &nbsp;&nbsp; 9496155 | 28396406 |
| Barratt Developments PLC | &nbsp;&nbsp; 614935 | 4161198 |
| Beazley PLC | &nbsp;&nbsp; 380498 | 3344389 |
| Bellway PLC | &nbsp;&nbsp; 79292 | 2911436 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 70695 | 4615138 |
| Big Yellow Group PLC | &nbsp;&nbsp; 119823 | 1863416 |
| Bodycote PLC | &nbsp;&nbsp; 137484 | 1229749 |
| boohoo Group PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 1104977 | 458823 |
| BP PLC | &nbsp;&nbsp; 10586624 | 62578706 |
| Breedon Group PLC | &nbsp;&nbsp; 208192 | 1158121 |
| British American Tobacco PLC | &nbsp;&nbsp; 1258666 | 44658766 |
| British Land Co. PLC (The) | &nbsp;&nbsp; 484258 | 2566712 |
| Britvic PLC | &nbsp;&nbsp; 175960 | 2873486 |
| BT Group PLC | &nbsp;&nbsp; 4110859 | 7455048 |
| Bunzl PLC | &nbsp;&nbsp; 203318 | 8518893 |
| Burberry Group PLC | &nbsp;&nbsp; 237068 | 2372533 |
| Burford Capital Ltd. | &nbsp;&nbsp; 143019 | 2016924 |
| Carnival PLC<sup>(b)</sup> | &nbsp;&nbsp; 106458 | 1635683 |
| Centamin PLC | &nbsp;&nbsp; 1095553 | 1789349 |
| Centrica PLC | &nbsp;&nbsp; 3821758 | 6515998 |
| Close Brothers Group PLC | &nbsp;&nbsp; 95770 | 630088 |
| Coats Group PLC | &nbsp;&nbsp; 1094347 | 1259120 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 129517 | 4726064 |
| Compass Group PLC | &nbsp;&nbsp; 1064348 | 32776605 |
| Computacenter PLC | &nbsp;&nbsp; 76679 | 2655091 |
| ConvaTec Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 915262 | 2757664 |
| Cranswick PLC | &nbsp;&nbsp; 41969 | 2570873 |
| Crest Nicholson Holdings PLC | &nbsp;&nbsp; 281915 | 961024 |
| Croda International PLC | &nbsp;&nbsp; 97040 | 5045513 |
| Currys PLC<sup>(b)</sup> | &nbsp;&nbsp; 981403 | 1026347 |
| CVS Group PLC | &nbsp;&nbsp; 65921 | 966090 |
| Darktrace PLC<sup>(b)</sup> | &nbsp;&nbsp; 255222 | 1940999 |
| DCC PLC | &nbsp;&nbsp; 62628 | 4314753 |
| Deliveroo PLC, Class A<sup>(b)(c)</sup> | &nbsp;&nbsp; 825824 | 1400301 |
| Derwent London PLC | &nbsp;&nbsp; 74460 | 2199693 |
| Diageo PLC | &nbsp;&nbsp; 1397642 | 43487586 |
| Diploma PLC | &nbsp;&nbsp; 80314 | 4591970 |
| Direct Line Insurance Group PLC | &nbsp;&nbsp; 757630 | 1838043 |
| Domino's Pizza Group PLC | &nbsp;&nbsp; 399798 | 1662412 |
| Dowlais Group PLC | &nbsp;&nbsp; 894684 | 737050 |
| Dr. Martens PLC | &nbsp;&nbsp; 428737 | 391982 |
| Drax Group PLC | &nbsp;&nbsp; 271530 | 2271245 |
| DS Smith PLC | &nbsp;&nbsp; 913914 | 5342787 |
| Dunelm Group PLC | &nbsp;&nbsp; 109061 | 1729816 |
| easyJet PLC | &nbsp;&nbsp; 217496 | 1260009 |
| Elementis PLC | &nbsp;&nbsp; 599799 | 1232173 |
| Endeavour Mining PLC | &nbsp;&nbsp; 112579 | 2514736 |
| Energean PLC | &nbsp;&nbsp; 155942 | 2002708 |
| Entain PLC | &nbsp;&nbsp; 385142 | 2830261 |
| Essentra PLC | &nbsp;&nbsp; 246185 | 541186 |
| Evoke PLC<sup>(b)</sup> | &nbsp;&nbsp; 331117 | 251357 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Experian PLC | &nbsp;&nbsp; 576865 | $27216496 |
| Fevertree Drinks PLC | &nbsp;&nbsp; 72739 | 862626 |
| Firstgroup PLC | &nbsp;&nbsp; 783835 | 1767434 |
| Flutter Entertainment PLC<sup>(b)</sup> | &nbsp;&nbsp; 112465 | 22246223 |
| Frasers Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 100152 | 1155935 |
| Future PLC<sup>(a)</sup> | &nbsp;&nbsp; 85728 | 1233831 |
| Games Workshop Group PLC | &nbsp;&nbsp; 21604 | 2865425 |
| Gamma Communications PLC | &nbsp;&nbsp; 63358 | 1210345 |
| GB Group PLC | &nbsp;&nbsp; 193493 | 866130 |
| Genuit Group PLC | &nbsp;&nbsp; 215039 | 1413106 |
| Genus PLC | &nbsp;&nbsp; 47707 | 1117995 |
| Glencore PLC | &nbsp;&nbsp; 6503678 | 36087852 |
| Grafton Group PLC | &nbsp;&nbsp; 154020 | 2145697 |
| Grainger PLC | &nbsp;&nbsp; 453287 | 1407948 |
| Great Portland Estates PLC | &nbsp;&nbsp; 260029 | 1173352 |
| Greatland Gold PLC<sup>(b)</sup> | &nbsp;&nbsp; 6713601 | 611915 |
| Greencore Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 472103 | 1093656 |
| Greggs PLC | &nbsp;&nbsp; 55392 | 2230723 |
| GSK PLC | &nbsp;&nbsp; 2607805 | 50640397 |
| Haleon PLC | &nbsp;&nbsp; 4250695 | 19066076 |
| Halma PLC | &nbsp;&nbsp; 241441 | 8264180 |
| Hammerson PLC | &nbsp;&nbsp; 3015877 | 1117369 |
| Harbour Energy PLC | &nbsp;&nbsp; 419498 | 1687257 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 209558 | 2976998 |
| Hays PLC | &nbsp;&nbsp; 1119957 | 1357307 |
| Helios Towers PLC<sup>(b)</sup> | &nbsp;&nbsp; 629191 | 1020104 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 94507 | 2310682 |
| Hill & Smith PLC | &nbsp;&nbsp; 64081 | 1894234 |
| Hiscox Ltd. | &nbsp;&nbsp; 231624 | 3782593 |
| Howden Joinery Group PLC | &nbsp;&nbsp; 372419 | 4502616 |
| HSBC Holdings PLC | &nbsp;&nbsp; 11948142 | 108657641 |
| Ibstock PLC<sup>(c)</sup> | &nbsp;&nbsp; 525918 | 1241309 |
| IG Group Holdings PLC | &nbsp;&nbsp; 250189 | 3021458 |
| IMI PLC | &nbsp;&nbsp; 181102 | 4411086 |
| Impax Asset Management Group PLC | &nbsp;&nbsp; 90249 | 471620 |
| Imperial Brands PLC | &nbsp;&nbsp; 538366 | 14838357 |
| Inchcape PLC | &nbsp;&nbsp; 248695 | 2704668 |
| Indivior PLC, NVS<sup>(b)</sup> | &nbsp;&nbsp; 108662 | 1492600 |
| Informa PLC | &nbsp;&nbsp; 884732 | 9887035 |
| IntegraFin Holdings PLC | &nbsp;&nbsp; 243412 | 1204736 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 109097 | 10991045 |
| Intermediate Capital Group PLC | &nbsp;&nbsp; 191611 | 5408552 |
| International Distributions Services PLC<sup>(b)</sup> | &nbsp;&nbsp; 484611 | 2150173 |
| International Workplace Group PLC | &nbsp;&nbsp; 560726 | 1244980 |
| Intertek Group PLC | &nbsp;&nbsp; 96372 | 6258200 |
| Investec PLC | &nbsp;&nbsp; 474823 | 3759662 |
| IP Group PLC | &nbsp;&nbsp; 588013 | 315219 |
| ITM Power PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 483062 | 324735 |
| ITV PLC | &nbsp;&nbsp; 2237349 | 2301776 |
| J D Wetherspoon PLC<sup>(b)</sup> | &nbsp;&nbsp; 133894 | 1284932 |
| J Sainsbury PLC | &nbsp;&nbsp; 1076968 | 3819141 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 1601750 | 2709912 |
| JET2 PLC | &nbsp;&nbsp; 121667 | 2233535 |
| John Wood Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 506635 | 1328662 |
| Johnson Matthey PLC | &nbsp;&nbsp; 111267 | 2344415 |
| JTC PLC<sup>(c)</sup> | &nbsp;&nbsp; 130762 | 1767541 |
| Jupiter Fund Management PLC | &nbsp;&nbsp; 400404 | 452757 |
| Kainos Group PLC | &nbsp;&nbsp; 77987 | 1100813 |
| Keywords Studios PLC | &nbsp;&nbsp; 75471 | 2316880 |
| Kingfisher PLC | &nbsp;&nbsp; 1256286 | 4466259 |
| Lancashire Holdings Ltd. | &nbsp;&nbsp; 244781 | 1995060 |
| Land Securities Group PLC | &nbsp;&nbsp; 414769 | 3391736 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Learning Technologies Group PLC | &nbsp;&nbsp; 656046 | $607234 |
| Legal & General Group PLC | &nbsp;&nbsp; 3656966 | 10907361 |
| Liontrust Asset Management PLC | &nbsp;&nbsp; 44699 | 383353 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 41010491 | 31329958 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 284727 | 34658583 |
| LondonMetric Property PLC | &nbsp;&nbsp; 1524858 | 3942483 |
| M&G PLC | &nbsp;&nbsp; 1511227 | 4126625 |
| Man Group PLC/Jersey | &nbsp;&nbsp; 960534 | 3024034 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 1270693 | 5366836 |
| Marshalls PLC | &nbsp;&nbsp; 148907 | 666167 |
| Melrose Industries PLC | &nbsp;&nbsp; 894684 | 6774824 |
| Mitie Group PLC | &nbsp;&nbsp; 1011024 | 1575263 |
| Mobico Group PLC | &nbsp;&nbsp; 580676 | 420666 |
| Mondi PLC, NVS | &nbsp;&nbsp; 262630 | 5134852 |
| MONY Group PLC | &nbsp;&nbsp; 317492 | 969191 |
| National Grid PLC | &nbsp;&nbsp; 3040536 | 38578855 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 4111883 | 19508763 |
| Network International Holdings PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 348921 | 1758338 |
| Next PLC | &nbsp;&nbsp; 81666 | 9545098 |
| Ninety One PLC | &nbsp;&nbsp; 479921 | 1068806 |
| NMC Health PLC, NVS<sup>(e)</sup> | &nbsp;&nbsp; 12146 |  |
| Ocado Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 360544 | 1885350 |
| OSB Group PLC | &nbsp;&nbsp; 364079 | 2408925 |
| Oxford Instruments PLC | &nbsp;&nbsp; 46980 | 1515918 |
| Oxford Nanopore Technologies PLC<sup>(b)</sup> | &nbsp;&nbsp; 446316 | 693104 |
| Pagegroup PLC | &nbsp;&nbsp; 304270 | 1676290 |
| Paragon Banking Group PLC | &nbsp;&nbsp; 202329 | 2090725 |
| Pearson PLC | &nbsp;&nbsp; 406524 | 5515706 |
| Penno Group PLC | &nbsp;&nbsp; 234965 | 1878513 |
| Persimmon PLC | &nbsp;&nbsp; 186726 | 3807768 |
| Pets at Home Group PLC | &nbsp;&nbsp; 337817 | 1332373 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 405174 | 2853678 |
| Playtech PLC<sup>(b)</sup> | &nbsp;&nbsp; 197810 | 1436765 |
| Plus500 Ltd. | &nbsp;&nbsp; 88768 | 2677155 |
| Primary Health Properties PLC | &nbsp;&nbsp; 1176684 | 1401630 |
| Prudential PLC | &nbsp;&nbsp; 1699554 | 15337433 |
| QinetiQ Group PLC | &nbsp;&nbsp; 404210 | 2511099 |
| Quilter PLC<sup>(c)</sup> | &nbsp;&nbsp; 1112404 | 1911979 |
| Rathbones Group PLC | &nbsp;&nbsp; 43341 | 1072959 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 445326 | 23955710 |
| Redrow PLC | &nbsp;&nbsp; 217199 | 2083701 |
| RELX PLC | &nbsp;&nbsp; 1180214 | 55703132 |
| Renishaw PLC | &nbsp;&nbsp; 33468 | 1629344 |
| Rentokil Initial PLC | &nbsp;&nbsp; 1601169 | 9776987 |
| RHI Magnesita NV | &nbsp;&nbsp; 31994 | 1509946 |
| Rightmove PLC | &nbsp;&nbsp; 518849 | 3854971 |
| Rio Tinto PLC | &nbsp;&nbsp; 708441 | 46071970 |
| Rolls-Royce Holdings PLC<sup>(b)</sup> | &nbsp;&nbsp; 5371931 | 31104566 |
| Rotork PLC | &nbsp;&nbsp; 500449 | 2329127 |
| RS Group PLC | &nbsp;&nbsp; 316889 | 3329176 |
| RWS Holdings PLC | &nbsp;&nbsp; 274316 | 672564 |
| Safestore Holdings PLC | &nbsp;&nbsp; 159135 | 1653634 |
| Sage Group PLC (The) | &nbsp;&nbsp; 623712 | 8718592 |
| Savills PLC | &nbsp;&nbsp; 110416 | 1811222 |
| Schroders PLC | &nbsp;&nbsp; 397880 | 2010676 |
| Segro PLC | &nbsp;&nbsp; 774729 | 9119031 |
| Serco Group PLC | &nbsp;&nbsp; 816469 | 2006264 |
| Severn Trent PLC | &nbsp;&nbsp; 166710 | 5511376 |
| Shaftesbury Capital PLC | &nbsp;&nbsp; 1204064 | 2357429 |
| Shell PLC | &nbsp;&nbsp; 4073124 | 148521907 |
| Sirius Real Estate Ltd. | &nbsp;&nbsp; 1204680 | 1468624 |
| Smith & Nephew PLC | &nbsp;&nbsp; 522268 | 7527356 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Smiths Group PLC | &nbsp;&nbsp; 230371 | $5291428 |
| Softcat PLC | &nbsp;&nbsp; 100972 | 2112427 |
| Spectris PLC | &nbsp;&nbsp; 70009 | 2746260 |
| Spirax Group PLC | &nbsp;&nbsp; 52353 | 6112056 |
| Spirent Communications PLC | &nbsp;&nbsp; 547105 | 1222028 |
| SSE PLC | &nbsp;&nbsp; 674058 | 16313416 |
| SSP Group PLC | &nbsp;&nbsp; 525659 | 1236199 |
| St. James's Place PLC | &nbsp;&nbsp; 316739 | 2790080 |
| Standard Chartered PLC | &nbsp;&nbsp; 1515021 | 14965810 |
| Tate & Lyle PLC | &nbsp;&nbsp; 247928 | 2095610 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 2033224 | 4168465 |
| TBC Bank Group PLC | &nbsp;&nbsp; 31739 | 1264865 |
| Team17 Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 154007 | 574153 |
| Telecom Plus PLC | &nbsp;&nbsp; 51553 | 1259831 |
| Tesco PLC | &nbsp;&nbsp; 4518580 | 19269348 |
| TP ICAP Group PLC | &nbsp;&nbsp; 790010 | 2249549 |
| Trainline PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 318929 | 1396457 |
| Travis Perkins PLC | &nbsp;&nbsp; 139120 | 1709498 |
| Tritax Big Box REIT PLC | &nbsp;&nbsp; 1121290 | 2383383 |
| Tullow Oil PLC<sup>(b)</sup> | &nbsp;&nbsp; 1479307 | 582308 |
| Unilever PLC | &nbsp;&nbsp; 1581488 | 97189831 |
| UNITE Group PLC (The) | &nbsp;&nbsp; 200246 | 2454462 |
| United Utilities Group PLC | &nbsp;&nbsp; 413661 | 5497400 |
| Vesuvius PLC | &nbsp;&nbsp; 193191 | 1198544 |
| Victrex PLC | &nbsp;&nbsp; 78157 | 1105222 |
| Virgin Money U.K. PLC | &nbsp;&nbsp; 860711 | 2380234 |
| Vistry Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 250383 | 4459656 |
| Vodafone Group PLC | &nbsp;&nbsp; 14157054 | 13247456 |
| Watches of Switzerland Group PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 180052 | 944225 |
| Weir Group PLC (The) | &nbsp;&nbsp; 162547 | 4243257 |
| WH Smith PLC | &nbsp;&nbsp; 105063 | 1787641 |
| Whitbread PLC | &nbsp;&nbsp; 114211 | 4279482 |
| Wickes Group PLC | &nbsp;&nbsp; 298951 | 580318 |
| Wise PLC, Class A<sup>(b)</sup> | &nbsp;&nbsp; 372926 | 3433749 |
| Workspace Group PLC | &nbsp;&nbsp; 107814 | 849980 |
| WPP PLC | &nbsp;&nbsp; 674574 | 6506993 |
| Yellow Cake PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 192052 | 1374429 |
| YouGov PLC | &nbsp;&nbsp; 100263 | 595486 |
|  |  | 1903955463 |
| **Total Common Stocks — 99.1%** <br>**(Cost: $11,805,230,193)** | **Total Common Stocks — 99.1%** <br>**(Cost: $11,805,230,193)** | 13977921409 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.3%** | **Germany — 0.3%** | **Germany — 0.3%** |
| Bayerische Motoren Werke AG, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 36221 | 3105283 |
| Dr Ing hc F Porsche AG, Preference Shares, NVS<sup>(c)</sup> | &nbsp;&nbsp; 70131 | 5280914 |
| Fuchs Petrolub SE, Preference Shares, NVS | &nbsp;&nbsp; 63215 | 2746763 |
| Henkel AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 107478 | 9193858 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Jungheinrich AG, Preference Shares, NVS | &nbsp;&nbsp; 35918 | $1136980 |
| Porsche Automobil Holding SE, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 98780 | 4415413 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 16842 | 4776760 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 127496 | 14228932 |
|  |  | 44884903 |
| **Total Preferred Stocks — 0.3%** <br>**(Cost: $53,655,781)** | **Total Preferred Stocks — 0.3%** <br>**(Cost: $53,655,781)** | 44884903 |
| **Warrants** | **Warrants** | **Warrants** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| Constellation Software Inc., (Issued 08/29/23, <br> 1 Share for 1 Warrant, Expires 03/31/40, Strike <br> Price CAD 11.50)<sup>(e)</sup><br>| &nbsp;&nbsp; 11415 |  |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** |  |
| **Total Long-Term Investments — 99.4%** <br>**(Cost: $11,858,885,974)** | **Total Long-Term Investments — 99.4%** <br>**(Cost: $11,858,885,974)** | 14022806312 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.6%** | **Money Market Funds — 0.6%** | **Money Market Funds — 0.6%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 82413560 | 82446525 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 1250000 | 1250000 |
| **Total Short-Term Securities — 0.6%** <br>**(Cost: $83,657,718)** | **Total Short-Term Securities — 0.6%** <br>**(Cost: $83,657,718)** | 83696525 |
| **Total Investments — 100.0%** <br>**(Cost: $11,942,543,692)** | **Total Investments — 100.0%** <br>**(Cost: $11,942,543,692)** | 14106502837 |
| **Other Assets Less Liabilities — 0.0%** | **Other Assets Less Liabilities — 0.0%** | 4174520 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $14110677357 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> 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. 

<sup>(d)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(e)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $104755638 | $— | &nbsp;&nbsp; $(22319098 )<sup>(a)</sup><br>| &nbsp;&nbsp; $3873 | $6112 | $82446525 | 82413560 | $1246001 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 620000 | 630000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 1250000 | 1250000 | 398462 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $3873 | $6112 | $83696525 |  | $1644463 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 89 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $16450 | &nbsp;&nbsp; $(41829)<br>|
| SPI 200 Index | &nbsp;&nbsp; 75 | &nbsp;&nbsp; 09/19/24 | &nbsp;&nbsp; 9911 | &nbsp;&nbsp; 457002 |
| Euro STOXX 50 Index | &nbsp;&nbsp; 417 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 22113 | &nbsp;&nbsp; (57160)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 138 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 14840 | &nbsp;&nbsp; 289052 |
|  |  |  |  | &nbsp;&nbsp; $647065 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $746054 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $746054 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $98989 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $98989 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI International Developed Markets ETF**

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7071438 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7071438 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(593782)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(593782)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $66635279 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $1745872259 | &nbsp;&nbsp; $12232049150 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13977921409 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 44884903 | &nbsp;&nbsp; — | &nbsp;&nbsp; 44884903 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 83696525 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 83696525 |
|  | &nbsp;&nbsp; $1829568784 | &nbsp;&nbsp; $12276934053 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14106502837 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $746054 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $746054 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (98989)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (98989)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $647065 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $647065 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 21.1%** | **Australia — 21.1%** | **Australia — 21.1%** |
| Abacus Group | &nbsp;&nbsp; 122406 | $88448 |
| Abacus Storage King | &nbsp;&nbsp; 122195 | 102181 |
| Accent Group Ltd. | &nbsp;&nbsp; 111152 | 159579 |
| AGL Energy Ltd. | &nbsp;&nbsp; 172652 | 1173655 |
| Alpha HPA Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 296326 | 165754 |
| ALS Ltd. | &nbsp;&nbsp; 139175 | 1409040 |
| Amotiv Ltd. | &nbsp;&nbsp; 39074 | 277493 |
| AMP Ltd. | &nbsp;&nbsp; 820715 | 637567 |
| Ampol Ltd. | &nbsp;&nbsp; 68325 | 1496656 |
| Ansell Ltd. | &nbsp;&nbsp; 40656 | 727901 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 853297 | 16234009 |
| APA Group | &nbsp;&nbsp; 358226 | 1856741 |
| APM Human Services International Ltd. | &nbsp;&nbsp; 90364 | 84397 |
| ARB Corp. Ltd. | &nbsp;&nbsp; 22069 | 609798 |
| Arena REIT | &nbsp;&nbsp; 106684 | 270798 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 161470 | 5750609 |
| ASX Ltd. | &nbsp;&nbsp; 54686 | 2329961 |
| Atlas Arteria Ltd. | &nbsp;&nbsp; 329667 | 1132271 |
| AUB Group Ltd. | &nbsp;&nbsp; 28942 | 611564 |
| Audinate Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 21500 | 210047 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 509260 | 1241714 |
| Aussie Broadband Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 58728 | 122871 |
| Austal Ltd. | &nbsp;&nbsp; 108187 | 185741 |
| Australian Agricultural Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 29273 | 26800 |
| Bank of Queensland Ltd. | &nbsp;&nbsp; 177737 | 734478 |
| Bapcor Ltd. | &nbsp;&nbsp; 90901 | 305650 |
| Beach Energy Ltd. | &nbsp;&nbsp; 433060 | 420796 |
| Bega Cheese Ltd. | &nbsp;&nbsp; 68245 | 199452 |
| Bellevue Gold Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 344779 | 311277 |
| Bendigo & Adelaide Bank Ltd. | &nbsp;&nbsp; 162557 | 1330779 |
| BHP Group Ltd. | &nbsp;&nbsp; 1442822 | 40074301 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 123723 | 1796600 |
| Boss Energy Ltd. <sup>(a)</sup> | &nbsp;&nbsp; 105122 | 252395 |
| Brambles Ltd. | &nbsp;&nbsp; 392572 | 4002143 |
| Breville Group Ltd. | &nbsp;&nbsp; 29381 | 564564 |
| Brickworks Ltd. | &nbsp;&nbsp; 21505 | 406049 |
| BWP Trust | &nbsp;&nbsp; 172083 | 403661 |
| Capricorn Metals Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 84923 | 300557 |
| CAR Group Ltd. | &nbsp;&nbsp; 101204 | 2314588 |
| Centuria Capital Group | &nbsp;&nbsp; 154219 | 172090 |
| Centuria Industrial REIT | &nbsp;&nbsp; 169806 | 353929 |
| Centuria Office REIT | &nbsp;&nbsp; 118554 | 96732 |
| Cettire Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 60364 | 52591 |
| Challenger Ltd. | &nbsp;&nbsp; 119470 | 550630 |
| Champion Iron Ltd. | &nbsp;&nbsp; 114257 | 469513 |
| Charter Hall Group | &nbsp;&nbsp; 132444 | 1106031 |
| Charter Hall Long Wale REIT | &nbsp;&nbsp; 184556 | 431691 |
| Charter Hall Retail REIT | &nbsp;&nbsp; 147387 | 337224 |
| Charter Hall Social Infrastructure REIT | &nbsp;&nbsp; 87071 | 146427 |
| Cleanaway Waste Management Ltd. | &nbsp;&nbsp; 585936 | 1083135 |
| Clinuvel Pharmaceuticals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 9667 | 94653 |
| Cochlear Ltd. | &nbsp;&nbsp; 18514 | 4183343 |
| Codan Ltd./Australia | &nbsp;&nbsp; 26005 | 223461 |
| Coles Group Ltd. | &nbsp;&nbsp; 378179 | 4482052 |
| Collins Foods Ltd. | &nbsp;&nbsp; 36344 | 218410 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 476037 | 42895743 |
| Computershare Ltd. | &nbsp;&nbsp; 151177 | 2726629 |
| Coronado Global Resources Inc.<sup>(c)</sup> | &nbsp;&nbsp; 289959 | 273744 |
| Corporate Travel Management Ltd. | &nbsp;&nbsp; 34923 | 308657 |
| Credit Corp. Group Ltd. | &nbsp;&nbsp; 19181 | 220033 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Cromwell Property Group | &nbsp;&nbsp; 436068 | $118738 |
| CSL Ltd. | &nbsp;&nbsp; 137240 | 27854652 |
| Data#3 Ltd. | &nbsp;&nbsp; 36990 | 214064 |
| De Grey Mining Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 497258 | 398716 |
| Deep Yellow Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 207322 | 175742 |
| Deterra Royalties Ltd. | &nbsp;&nbsp; 125042 | 326920 |
| Dexus | &nbsp;&nbsp; 304990 | 1406173 |
| Dexus Industria REIT | &nbsp;&nbsp; 46275 | 87864 |
| Dicker Data Ltd. | &nbsp;&nbsp; 25330 | 169681 |
| Domain Holdings Australia Ltd. | &nbsp;&nbsp; 79799 | 168459 |
| Domino's Pizza Enterprises Ltd. | &nbsp;&nbsp; 19464 | 418635 |
| Downer EDI Ltd. | &nbsp;&nbsp; 193606 | 631934 |
| Eagers Automotive Ltd. | &nbsp;&nbsp; 45715 | 318707 |
| Elders Ltd. | &nbsp;&nbsp; 48312 | 301119 |
| Emerald Resources NL<sup>(a)</sup> | &nbsp;&nbsp; 149787 | 364729 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 430831 | 1549558 |
| Evolution Mining Ltd. | &nbsp;&nbsp; 561505 | 1454845 |
| EVT Ltd. | &nbsp;&nbsp; 22738 | 172494 |
| Firefinch Ltd., NVS<sup>(d)</sup> | &nbsp;&nbsp; 298353 | 21462 |
| FleetPartners Group Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 84925 | 190074 |
| Flight Centre Travel Group Ltd. | &nbsp;&nbsp; 55558 | 808918 |
| Fortescue Ltd. | &nbsp;&nbsp; 483601 | 6017364 |
| G8 Education Ltd. | &nbsp;&nbsp; 209200 | 178532 |
| Genesis Minerals Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 281682 | 388503 |
| Gold Road Resources Ltd. | &nbsp;&nbsp; 302403 | 338128 |
| Goodman Group | &nbsp;&nbsp; 485945 | 11218568 |
| GPT Group (The) | &nbsp;&nbsp; 547960 | 1669096 |
| GrainCorp Ltd., Class A | &nbsp;&nbsp; 70255 | 415096 |
| Growthpoint Properties Australia Ltd. | &nbsp;&nbsp; 75737 | 115719 |
| Hansen Technologies Ltd. | &nbsp;&nbsp; 58467 | 172124 |
| Harvey Norman Holdings Ltd. | &nbsp;&nbsp; 163191 | 512521 |
| Healius Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 173020 | 171175 |
| HealthCo REIT<sup>(b)</sup> | &nbsp;&nbsp; 131077 | 102337 |
| Helia Group Ltd. | &nbsp;&nbsp; 88062 | 230138 |
| HMC Capital Ltd. | &nbsp;&nbsp; 58056 | 296224 |
| HomeCo Daily Needs REIT | &nbsp;&nbsp; 489333 | 407802 |
| HUB24 Ltd. | &nbsp;&nbsp; 22309 | 726582 |
| IDP Education Ltd. | &nbsp;&nbsp; 76213 | 748463 |
| IGO Ltd. | &nbsp;&nbsp; 195612 | 716352 |
| Iluka Resources Ltd. | &nbsp;&nbsp; 118817 | 472697 |
| Imdex Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 124705 | 187362 |
| Incitec Pivot Ltd. | &nbsp;&nbsp; 546023 | 1054145 |
| Ingenia Communities Group | &nbsp;&nbsp; 108011 | 372459 |
| Inghams Group Ltd. | &nbsp;&nbsp; 110690 | 272883 |
| Insignia Financial Ltd. | &nbsp;&nbsp; 178092 | 322664 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 679814 | 3288875 |
| IPH Ltd. | &nbsp;&nbsp; 67536 | 271066 |
| IRESS Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 51891 | 362378 |
| James Hardie Industries PLC<sup>(a)</sup> | &nbsp;&nbsp; 124892 | 4486573 |
| JB Hi-Fi Ltd. | &nbsp;&nbsp; 32239 | 1471990 |
| Johns Lyng Group Ltd. | &nbsp;&nbsp; 63217 | 246976 |
| Judo Capital Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 180530 | 163882 |
| Jumbo Interactive Ltd. | &nbsp;&nbsp; 15759 | 168626 |
| Karoon Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 230699 | 279759 |
| Kelsian Group Ltd. | &nbsp;&nbsp; 47639 | 163855 |
| Latin Resources Ltd., NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 683542 | 67718 |
| Lendlease Corp. Ltd. | &nbsp;&nbsp; 185679 | 766456 |
| Leo Lithium Ltd.<sup>(a)(d)</sup> | &nbsp;&nbsp; 292832 | 77365 |
| Lifestyle Communities Ltd. | &nbsp;&nbsp; 32670 | 193114 |
| Liontown Resources Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 450643 | 282371 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 628894 | 2049290 |
| Lovisa Holdings Ltd. | &nbsp;&nbsp; 17388 | 398764 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Lynas Rare Earths Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 256729 | $1049618 |
| MA Financial Group Ltd. | &nbsp;&nbsp; 39025 | 115234 |
| Maas Group Holdings Ltd. | &nbsp;&nbsp; 30268 | 87093 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 103301 | 14216869 |
| Mader Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 15134 | 61856 |
| Magellan Financial Group Ltd. | &nbsp;&nbsp; 56714 | 380767 |
| McMillan Shakespeare Ltd. | &nbsp;&nbsp; 14316 | 167995 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 770004 | 2004584 |
| Megaport Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 48795 | 353248 |
| Metcash Ltd. | &nbsp;&nbsp; 296689 | 710711 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 49440 | 1768111 |
| Mirvac Group | &nbsp;&nbsp; 1095523 | 1542504 |
| Monadelphous Group Ltd. | &nbsp;&nbsp; 29235 | 248596 |
| Mount Gibson Iron Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 193730 | 45098 |
| Nanosonics Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 81165 | 167897 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 882500 | 22289004 |
| National Storage REIT | &nbsp;&nbsp; 355802 | 577403 |
| Netwealth Group Ltd. | &nbsp;&nbsp; 34930 | 542908 |
| Neuren Pharmaceuticals Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 31389 | 397853 |
| New Hope Corp. Ltd. | &nbsp;&nbsp; 146141 | 466071 |
| NEXTDC Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 168711 | 1857884 |
| nib holdings Ltd. | &nbsp;&nbsp; 140466 | 691619 |
| Nick Scali Ltd. | &nbsp;&nbsp; 23217 | 239250 |
| Nickel Industries Ltd. | &nbsp;&nbsp; 521856 | 292498 |
| Nine Entertainment Co. Holdings Ltd. | &nbsp;&nbsp; 369758 | 352137 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 323275 | 3000357 |
| NRW Holdings Ltd. | &nbsp;&nbsp; 123282 | 270004 |
| Nufarm Ltd./Australia | &nbsp;&nbsp; 100520 | 306458 |
| Objective Corp. Ltd. | &nbsp;&nbsp; 9312 | 75545 |
| oOh!media Ltd. | &nbsp;&nbsp; 154946 | 147177 |
| Orica Ltd. | &nbsp;&nbsp; 137287 | 1615440 |
| Origin Energy Ltd. | &nbsp;&nbsp; 484682 | 3325632 |
| Orora Ltd. | &nbsp;&nbsp; 382394 | 511660 |
| Paladin Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 80216 | 601756 |
| Pepper Money Ltd./Australia | &nbsp;&nbsp; 81989 | 77476 |
| Perenti Ltd. | &nbsp;&nbsp; 190739 | 131314 |
| Perpetual Ltd. | &nbsp;&nbsp; 32074 | 465904 |
| Perseus Mining Ltd. | &nbsp;&nbsp; 367085 | 611632 |
| PEXA Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 37687 | 341986 |
| Pilbara Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 824986 | 1594585 |
| Pinnacle Investment Management Group Ltd. | &nbsp;&nbsp; 38803 | 418914 |
| Platinum Asset Management Ltd. | &nbsp;&nbsp; 153208 | 107250 |
| PolyNovo Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 170650 | 300862 |
| Premier Investments Ltd. | &nbsp;&nbsp; 24358 | 529610 |
| Pro Medicus Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 16412 | 1548458 |
| PWR Holdings Ltd. | &nbsp;&nbsp; 24850 | 193383 |
| Qantas Airways Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 223199 | 945574 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 428910 | 5062017 |
| Qube Holdings Ltd. | &nbsp;&nbsp; 486505 | 1218308 |
| Ramelius Resources Ltd. | &nbsp;&nbsp; 324118 | 413630 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 51077 | 1555480 |
| REA Group Ltd. | &nbsp;&nbsp; 15051 | 2023602 |
| Red 5 Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1693130 | 434264 |
| Redox Ltd./Australia, NVS | &nbsp;&nbsp; 53598 | 109850 |
| Reece Ltd. | &nbsp;&nbsp; 66104 | 1197899 |
| Region RE Ltd. | &nbsp;&nbsp; 347433 | 517332 |
| Regis Resources Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 219827 | 242549 |
| Reliance Worldwide Corp. Ltd. | &nbsp;&nbsp; 232297 | 783031 |
| Resolute Mining Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 614289 | 263880 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 105807 | 8130432 |
| Rural Funds Group<sup>(b)</sup> | &nbsp;&nbsp; 136265 | 190212 |
| Sandfire Resources Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 127324 | 727227 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Santos Ltd. | &nbsp;&nbsp; 917174 | $4781142 |
| Scentre Group | &nbsp;&nbsp; 1472307 | 3357489 |
| SEEK Ltd. | &nbsp;&nbsp; 101104 | 1464146 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 55074 | 1413030 |
| SG Fleet Group Ltd. | &nbsp;&nbsp; 39155 | 81453 |
| Sigma Healthcare Ltd. | &nbsp;&nbsp; 422019 | 359569 |
| Silex Systems Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 45086 | 138774 |
| Sims Ltd. | &nbsp;&nbsp; 48428 | 323327 |
| SiteMinder Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 69829 | 256560 |
| SmartGroup Corp. Ltd. | &nbsp;&nbsp; 41840 | 236783 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 129240 | 2342238 |
| South32 Ltd. | &nbsp;&nbsp; 1291047 | 2589446 |
| Stanmore Resources Ltd. | &nbsp;&nbsp; 77576 | 188895 |
| Star Entertainment Group Ltd. (The)<sup>(a)</sup> | &nbsp;&nbsp; 671017 | 256463 |
| Steadfast Group Ltd. | &nbsp;&nbsp; 297349 | 1262213 |
| Stockland | &nbsp;&nbsp; 677359 | 2045902 |
| Strike Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 560576 | 73289 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 364092 | 4236254 |
| Super Retail Group Ltd. | &nbsp;&nbsp; 41334 | 433003 |
| Tabcorp Holdings Ltd. | &nbsp;&nbsp; 662047 | 280124 |
| Technology One Ltd. | &nbsp;&nbsp; 83115 | 1122756 |
| Telix Pharmaceuticals Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 74005 | 929057 |
| Telstra Group Ltd. | &nbsp;&nbsp; 1146527 | 2962928 |
| Temple & Webster Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 22492 | 144000 |
| Transurban Group | &nbsp;&nbsp; 881437 | 7522003 |
| Treasury Wine Estates Ltd. | &nbsp;&nbsp; 226662 | 1832453 |
| Ventia Services Group Pty Ltd. | &nbsp;&nbsp; 242669 | 698656 |
| Vicinity Ltd. | &nbsp;&nbsp; 1099765 | 1524934 |
| Viva Energy Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 342187 | 729937 |
| Vulcan Steel Ltd. | &nbsp;&nbsp; 17255 | 70602 |
| WA1 Resources Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 11483 | 119758 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 66861 | 1556216 |
| Waypoint REIT Ltd. | &nbsp;&nbsp; 172331 | 286212 |
| Webjet Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 108784 | 636381 |
| Weebit Nano Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 47746 | 73807 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 322203 | 15550225 |
| West African Resources Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 314294 | 308950 |
| Westgold Resources Ltd. | &nbsp;&nbsp; 265010 | 455301 |
| Westpac Banking Corp. | &nbsp;&nbsp; 984975 | 19249170 |
| Whitehaven Coal Ltd. | &nbsp;&nbsp; 224564 | 1133702 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 47257 | 2961176 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 540349 | 9799124 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 348391 | 7860805 |
| Worley Ltd. | &nbsp;&nbsp; 135038 | 1339432 |
| Xero Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 40661 | 3704915 |
| Yancoal Australia Ltd., NVS | &nbsp;&nbsp; 114696 | 531558 |
| Zip Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 341848 | 431940 |
|  |  | 430022675 |
| **Hong Kong — 4.7%** | **Hong Kong — 4.7%** | **Hong Kong — 4.7%** |
| AIA Group Ltd. | &nbsp;&nbsp; 3198800 | 21396311 |
| ASMPT Ltd. | &nbsp;&nbsp; 90400 | 945182 |
| Bank of East Asia Ltd. (The) | &nbsp;&nbsp; 291400 | 367539 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 1059500 | 3082426 |
| Brightoil Petroleum Holdings Ltd.<sup>(b)(d)</sup> | &nbsp;&nbsp; 763800 | 1 |
| Cafe de Coral Holdings Ltd. | &nbsp;&nbsp; 92000 | 94772 |
| CITIC Telecom International Holdings Ltd. | &nbsp;&nbsp; 427000 | 113783 |
| Citychamp Watch & Jewellery Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 582000 | 73003 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 557572 | 2130522 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 759572 | 3968086 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 186500 | 1243908 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 464500 | 3986625 |
| C-Mer Eye Care Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 258000 | 86454 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| Cowell e Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 65000 | $178288 |
| Dah Sing Banking Group Ltd. | &nbsp;&nbsp; 122800 | 97245 |
| Dah Sing Financial Holdings Ltd. | &nbsp;&nbsp; 70000 | 183127 |
| E-Commodities Holdings Ltd. | &nbsp;&nbsp; 490000 | 99093 |
| ESR Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 438092 | 662322 |
| First Pacific Co. Ltd. | &nbsp;&nbsp; 632000 | 281291 |
| Fortune REIT | &nbsp;&nbsp; 375000 | 179548 |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 16584 | 1049436 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 624000 | 2623247 |
| Guotai Junan International Holdings Ltd. | &nbsp;&nbsp; 824000 | 70503 |
| Hang Lung Properties Ltd. | &nbsp;&nbsp; 523000 | 383512 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 214300 | 2624280 |
| Health and Happiness H&H International <br> Holdings Ltd.<br>| &nbsp;&nbsp; 43500 | 47827 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 406970 | 1143106 |
| HKBN Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 288500 | 91382 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 1080720 | 1308927 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 3189525 | 2599056 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 341900 | 10085031 |
| Hongkong Land Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 317500 | 1025402 |
| Hsin Chong Group Holdings Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 1002000 | 1 |
| Hutchison Telecommunications Hong Kong <br> Holdings Ltd.<br>| &nbsp;&nbsp; 692000 | 89458 |
| Hysan Development Co. Ltd. | &nbsp;&nbsp; 195000 | 267051 |
| IGG Inc.<sup>(a)</sup> | &nbsp;&nbsp; 316000 | 114399 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 45100 | 1588825 |
| Johnson Electric Holdings Ltd. | &nbsp;&nbsp; 134000 | 185268 |
| JS Global Lifestyle Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 391500 | 78253 |
| Kerry Logistics Network Ltd. | &nbsp;&nbsp; 108651 | 95122 |
| Kerry Properties Ltd. | &nbsp;&nbsp; 161000 | 274285 |
| Link REIT | &nbsp;&nbsp; 727200 | 3068072 |
| Luk Fook Holdings International Ltd. | &nbsp;&nbsp; 128000 | 251749 |
| Man Wah Holdings Ltd. | &nbsp;&nbsp; 424400 | 250312 |
| Melco International Development Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 214000 | 125620 |
| Melco Resorts & Entertainment Ltd., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 60220 | 343856 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 431000 | 1394326 |
| New World Development Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 423000 | 394340 |
| NWS Holdings Ltd. | &nbsp;&nbsp; 278000 | 248981 |
| Pacific Basin Shipping Ltd. | &nbsp;&nbsp; 1469000 | 441078 |
| PAX Global Technology Ltd. | &nbsp;&nbsp; 202000 | 113341 |
| PCCW Ltd. | &nbsp;&nbsp; 1283000 | 665204 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 391500 | 2495214 |
| Realord Group Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 108000 | 73955 |
| Sands China Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 698400 | 1309244 |
| Shangri-La Asia Ltd. | &nbsp;&nbsp; 378000 | 265015 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 1092000 | 1129519 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 385000 | 859234 |
| SJM Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 692000 | 223052 |
| SmarTone Telecommunications Holdings Ltd. | &nbsp;&nbsp; 165500 | 79410 |
| Stella International Holdings Ltd. | &nbsp;&nbsp; 147500 | 245807 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 413000 | 3575970 |
| SUNeVision Holdings Ltd. | &nbsp;&nbsp; 253000 | 88943 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 126000 | 1086974 |
| Swire Properties Ltd. | &nbsp;&nbsp; 323200 | 510439 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 385500 | 4936979 |
| Texhong International Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 135500 | 69373 |
| Theme International Holdings Ltd. | &nbsp;&nbsp; 1170000 | 67476 |
| United Energy Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 2526000 | 108310 |
| United Laboratories International Holdings Ltd. (The) | &nbsp;&nbsp; 286000 | 328549 |
| Vitasoy International Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 252000 | 180789 |
| Viva Goods Co. Ltd. | &nbsp;&nbsp; 1136000 | 84291 |
| VSTECS Holdings Ltd. | &nbsp;&nbsp; 152000 | 83607 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| VTech Holdings Ltd. | &nbsp;&nbsp; 43700 | $287505 |
| WH Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 2382500 | 1548729 |
| Wharf Holdings Ltd. (The)<sup>(b)</sup> | &nbsp;&nbsp; 306898 | 841468 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 461000 | 1133331 |
| Wynn Macau Ltd. | &nbsp;&nbsp; 440400 | 325321 |
| Xinyi Glass Holdings Ltd. | &nbsp;&nbsp; 452000 | 477474 |
| Yue Yuen Industrial Holdings Ltd. | &nbsp;&nbsp; 256000 | 417901 |
|  |  | 95044655 |
| **Japan — 69.0%** | **Japan — 69.0%** | **Japan — 69.0%** |
| 77 Bank Ltd. (The) | &nbsp;&nbsp; 17800 | 555701 |
| ABC-Mart Inc. | &nbsp;&nbsp; 27800 | 547986 |
| Acom Co. Ltd. | &nbsp;&nbsp; 132300 | 380958 |
| Activia Properties Inc. | &nbsp;&nbsp; 190 | 449480 |
| Adastria Co. Ltd. | &nbsp;&nbsp; 6800 | 151364 |
| ADEKA Corp. | &nbsp;&nbsp; 22700 | 481917 |
| Advance Logistics Investment Corp. | &nbsp;&nbsp; 220 | 175086 |
| Advance Residence Investment Corp. | &nbsp;&nbsp; 375 | 786739 |
| Advantest Corp. | &nbsp;&nbsp; 216500 | 9582585 |
| Aeon Co. Ltd. | &nbsp;&nbsp; 185800 | 4239321 |
| Aeon Delight Co. Ltd. | &nbsp;&nbsp; 6600 | 172005 |
| AEON Financial Service Co. Ltd. | &nbsp;&nbsp; 30700 | 281832 |
| Aeon Hokkaido Corp. | &nbsp;&nbsp; 10100 | 61737 |
| Aeon Mall Co. Ltd. | &nbsp;&nbsp; 25500 | 349611 |
| AEON REIT Investment Corp. | &nbsp;&nbsp; 526 | 454526 |
| AGC Inc. | &nbsp;&nbsp; 55600 | 1989910 |
| Ai Holdings Corp. | &nbsp;&nbsp; 7700 | 128720 |
| Aica Kogyo Co. Ltd. | &nbsp;&nbsp; 14900 | 344837 |
| Aichi Corp. | &nbsp;&nbsp; 10700 | 90189 |
| Aichi Financial Group Inc., NVS | &nbsp;&nbsp; 8900 | 160646 |
| Aida Engineering Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 6700 | 38081 |
| Aiful Corp. | &nbsp;&nbsp; 84400 | 218743 |
| Ain Holdings Inc. | &nbsp;&nbsp; 7300 | 280658 |
| Air Water Inc. | &nbsp;&nbsp; 50700 | 744837 |
| Aisan Industry Co. Ltd. | &nbsp;&nbsp; 8700 | 87845 |
| Aisin Corp. | &nbsp;&nbsp; 50300 | 1696920 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 133100 | 5481756 |
| Alfresa Holdings Corp. | &nbsp;&nbsp; 52200 | 815488 |
| Alpen Co. Ltd. | &nbsp;&nbsp; 1700 | 25005 |
| Alps Alpine Co. Ltd. | &nbsp;&nbsp; 53324 | 565151 |
| Alps Logistics Co. Ltd. | &nbsp;&nbsp; 4400 | 167472 |
| Amada Co. Ltd. | &nbsp;&nbsp; 91200 | 1071046 |
| Amano Corp. | &nbsp;&nbsp; 16600 | 420844 |
| Amvis Holdings Inc. | &nbsp;&nbsp; 9500 | 165398 |
| ANA Holdings Inc. | &nbsp;&nbsp; 43200 | 826318 |
| Anritsu Corp. | &nbsp;&nbsp; 37300 | 320133 |
| Anycolor Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 9300 | 157835 |
| AOKI Holdings Inc. | &nbsp;&nbsp; 7500 | 68551 |
| Aoyama Trading Co. Ltd. | &nbsp;&nbsp; 12500 | 127933 |
| Aozora Bank Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 32000 | 531985 |
| Appier Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 19600 | 162489 |
| Arata Corp. | &nbsp;&nbsp; 9400 | 223912 |
| Arclands Corp. | &nbsp;&nbsp; 16523 | 200699 |
| Arcs Co. Ltd. | &nbsp;&nbsp; 11800 | 214393 |
| ARE Holdings Inc. | &nbsp;&nbsp; 21100 | 288688 |
| Argo Graphics Inc. | &nbsp;&nbsp; 4700 | 160167 |
| Ariake Japan Co. Ltd. | &nbsp;&nbsp; 4300 | 153439 |
| Artience Co. Ltd. | &nbsp;&nbsp; 8800 | 186086 |
| As One Corp. | &nbsp;&nbsp; 17800 | 383513 |
| Asahi Group Holdings Ltd. | &nbsp;&nbsp; 135700 | 4995549 |
| Asahi Intecc Co. Ltd. | &nbsp;&nbsp; 60400 | 957504 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 352300 | 2540528 |
| Asahi Yukizai Corp. | &nbsp;&nbsp; 3400 | 108825 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Asics Corp. | &nbsp;&nbsp; 194300 | $3171040 |
| ASKUL Corp. | &nbsp;&nbsp; 9500 | 134261 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 512700 | 5946269 |
| Atom Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 31600 | 157187 |
| Autobacs Seven Co. Ltd. | &nbsp;&nbsp; 18400 | 203396 |
| Avex Inc. | &nbsp;&nbsp; 5300 | 53045 |
| Awa Bank Ltd. (The) | &nbsp;&nbsp; 9700 | 179934 |
| Axial Retailing Inc. | &nbsp;&nbsp; 21400 | 146567 |
| Azbil Corp. | &nbsp;&nbsp; 32900 | 956047 |
| AZ-COM MARUWA Holdings Inc. | &nbsp;&nbsp; 16800 | 144675 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 170000 | 3612627 |
| Bank of Nagoya Ltd. (The) | &nbsp;&nbsp; 2800 | 151528 |
| Base Co. Ltd. | &nbsp;&nbsp; 1700 | 31908 |
| BayCurrent Consulting Inc. | &nbsp;&nbsp; 38100 | 1172894 |
| Belc Co. Ltd. | &nbsp;&nbsp; 3500 | 146724 |
| Bell System24 Holdings Inc. | &nbsp;&nbsp; 11300 | 116823 |
| Belluna Co. Ltd. | &nbsp;&nbsp; 7600 | 39525 |
| Bengo4.com Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 900 | 21886 |
| Bic Camera Inc. | &nbsp;&nbsp; 27800 | 313728 |
| BIPROGY Inc. | &nbsp;&nbsp; 19800 | 648817 |
| BML Inc. | &nbsp;&nbsp; 5200 | 103738 |
| Bridgestone Corp. | &nbsp;&nbsp; 161200 | 6572711 |
| Brother Industries Ltd. | &nbsp;&nbsp; 65000 | 1333563 |
| Bunka Shutter Co. Ltd. | &nbsp;&nbsp; 14000 | 161642 |
| C Uyemura & Co. Ltd. | &nbsp;&nbsp; 2300 | 165036 |
| C.I. Takiron Corp. | &nbsp;&nbsp; 17600 | 100210 |
| Calbee Inc. | &nbsp;&nbsp; 25000 | 573867 |
| Canon Electronics Inc. | &nbsp;&nbsp; 4100 | 62620 |
| Canon Inc. | &nbsp;&nbsp; 284600 | 8908462 |
| Canon Marketing Japan Inc. | &nbsp;&nbsp; 13900 | 430433 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 97600 | 2085118 |
| Casio Computer Co. Ltd. | &nbsp;&nbsp; 51700 | 416112 |
| Cawachi Ltd. | &nbsp;&nbsp; 1400 | 25963 |
| Central Automotive Products Ltd. | &nbsp;&nbsp; 3000 | 99174 |
| Central Glass Co. Ltd. | &nbsp;&nbsp; 5000 | 125372 |
| Central Japan Railway Co. | &nbsp;&nbsp; 221400 | 5219935 |
| Change Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 12400 | 92541 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 149400 | 1399500 |
| Chiyoda Corp.<sup>(a)</sup> | &nbsp;&nbsp; 32700 | 66987 |
| Chofu Seisakusho Co. Ltd. | &nbsp;&nbsp; 3100 | 44363 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 180400 | 2274577 |
| Chudenko Corp. | &nbsp;&nbsp; 8500 | 198423 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 191800 | 8370626 |
| Chugin Financial Group Inc., NVS | &nbsp;&nbsp; 44900 | 500202 |
| Chugoku Electric Power Co. Inc. (The) | &nbsp;&nbsp; 89700 | 652362 |
| Chugoku Marine Paints Ltd. | &nbsp;&nbsp; 12100 | 167397 |
| Citizen Watch Co. Ltd. | &nbsp;&nbsp; 52500 | 354005 |
| CKD Corp. | &nbsp;&nbsp; 15300 | 305566 |
| Coca-Cola Bottlers Japan Holdings Inc. | &nbsp;&nbsp; 38925 | 580478 |
| COLOPL Inc. | &nbsp;&nbsp; 25900 | 105266 |
| Colowide Co. Ltd. | &nbsp;&nbsp; 21500 | 295961 |
| Comforia Residential REIT Inc. | &nbsp;&nbsp; 202 | 419064 |
| COMSYS Holdings Corp. | &nbsp;&nbsp; 32100 | 691055 |
| Comture Corp. | &nbsp;&nbsp; 6900 | 86741 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 303300 | 1911551 |
| Cosmo Energy Holdings Co. Ltd. | &nbsp;&nbsp; 18800 | 1008932 |
| Cosmos Pharmaceutical Corp. | &nbsp;&nbsp; 5500 | 494498 |
| Cover Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 7500 | 98135 |
| CRE Logistics REIT Inc. | &nbsp;&nbsp; 197 | 189916 |
| Create Restaurants Holdings Inc. | &nbsp;&nbsp; 32600 | 232719 |
| Create SD Holdings Co. Ltd. | &nbsp;&nbsp; 7100 | 159301 |
| Credit Saison Co. Ltd. | &nbsp;&nbsp; 42400 | 982798 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Curves Holdings Co. Ltd. | &nbsp;&nbsp; 7700 | $42292 |
| CyberAgent Inc. | &nbsp;&nbsp; 130000 | 840505 |
| Cybozu Inc. | &nbsp;&nbsp; 5600 | 67732 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 58900 | 1937705 |
| Daicel Corp. | &nbsp;&nbsp; 64800 | 629907 |
| Dai-Dan Co. Ltd. | &nbsp;&nbsp; 9500 | 194707 |
| Daido Steel Co. Ltd. | &nbsp;&nbsp; 37100 | 371204 |
| Daiei Kankyo Co. Ltd. | &nbsp;&nbsp; 10400 | 198918 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 88900 | 1608938 |
| Daihen Corp. | &nbsp;&nbsp; 5700 | 279719 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 256100 | 7808565 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 526300 | 21434969 |
| Daiichikosho Co. Ltd. | &nbsp;&nbsp; 20700 | 249847 |
| Daiki Aluminium Industry Co. Ltd. | &nbsp;&nbsp; 4200 | 34832 |
| Daikin Industries Ltd. | &nbsp;&nbsp; 75400 | 10933494 |
| Daikokutenbussan Co. Ltd. | &nbsp;&nbsp; 900 | 64001 |
| Daio Paper Corp. | &nbsp;&nbsp; 30000 | 179052 |
| Daiseki Co. Ltd. | &nbsp;&nbsp; 13640 | 326518 |
| Daishi Hokuetsu Financial Group Inc. | &nbsp;&nbsp; 9200 | 366580 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 17000 | 2044422 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 161200 | 4564923 |
| Daiwa House REIT Investment Corp. | &nbsp;&nbsp; 663 | 1066976 |
| Daiwa Industries Ltd. | &nbsp;&nbsp; 5300 | 55805 |
| Daiwa Office Investment Corp. | &nbsp;&nbsp; 148 | 289927 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 380000 | 3137315 |
| Daiwa Securities Living Investments Corp. | &nbsp;&nbsp; 573 | 389765 |
| Daiwabo Holdings Co. Ltd. | &nbsp;&nbsp; 23000 | 433405 |
| DCM Holdings Co. Ltd. | &nbsp;&nbsp; 31700 | 305986 |
| DeNA Co. Ltd. | &nbsp;&nbsp; 21800 | 225360 |
| Denka Co. Ltd. | &nbsp;&nbsp; 23600 | 343923 |
| Denso Corp. | &nbsp;&nbsp; 536300 | 8794787 |
| Dentsu Group Inc. | &nbsp;&nbsp; 58200 | 1538995 |
| Dentsu Soken Inc. | &nbsp;&nbsp; 7100 | 269909 |
| Descente Ltd. | &nbsp;&nbsp; 9100 | 240299 |
| Dexerials Corp. | &nbsp;&nbsp; 16800 | 806546 |
| DIC Corp. | &nbsp;&nbsp; 21600 | 444341 |
| Digital Arts Inc. | &nbsp;&nbsp; 2800 | 88892 |
| Digital Garage Inc. | &nbsp;&nbsp; 7900 | 146934 |
| Dip Corp. | &nbsp;&nbsp; 8400 | 172698 |
| Disco Corp. | &nbsp;&nbsp; 26300 | 8794629 |
| DMG Mori Co. Ltd. | &nbsp;&nbsp; 33600 | 854936 |
| Doshisha Co. Ltd. | &nbsp;&nbsp; 4000 | 61078 |
| Doutor Nichires Holdings Co. Ltd. | &nbsp;&nbsp; 10400 | 161402 |
| Dowa Holdings Co. Ltd. | &nbsp;&nbsp; 14800 | 543163 |
| DTS Corp. | &nbsp;&nbsp; 11900 | 344015 |
| Duskin Co. Ltd. | &nbsp;&nbsp; 12000 | 315504 |
| DyDo Group Holdings Inc. | &nbsp;&nbsp; 5800 | 104947 |
| Eagle Industry Co. Ltd. | &nbsp;&nbsp; 5800 | 81647 |
| Earth Corp. | &nbsp;&nbsp; 3900 | 130717 |
| East Japan Railway Co. | &nbsp;&nbsp; 257400 | 4904346 |
| Ebara Corp. | &nbsp;&nbsp; 129000 | 1847346 |
| EDION Corp. | &nbsp;&nbsp; 18400 | 214383 |
| eGuarantee Inc. | &nbsp;&nbsp; 6900 | 67549 |
| Eiken Chemical Co. Ltd. | &nbsp;&nbsp; 7700 | 124699 |
| Eisai Co. Ltd. | &nbsp;&nbsp; 70800 | 2700024 |
| Eizo Corp. | &nbsp;&nbsp; 4400 | 142388 |
| Elecom Co. Ltd. | &nbsp;&nbsp; 10700 | 117325 |
| Electric Power Development Co. Ltd. | &nbsp;&nbsp; 41500 | 686029 |
| en Japan Inc. | &nbsp;&nbsp; 6900 | 129174 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 818100 | 4286468 |
| Enplas Corp.<sup>(b)</sup> | &nbsp;&nbsp; 1600 | 81095 |
| ES-Con Japan Ltd. | &nbsp;&nbsp; 8200 | 56614 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Euglena Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 25800 | $94965 |
| Exedy Corp. | &nbsp;&nbsp; 12500 | 265408 |
| EXEO Group Inc. | &nbsp;&nbsp; 52400 | 571553 |
| Ezaki Glico Co. Ltd. | &nbsp;&nbsp; 14200 | 436136 |
| Fancl Corp. | &nbsp;&nbsp; 23800 | 460946 |
| FANUC Corp. | &nbsp;&nbsp; 269300 | 7983870 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 50100 | 13810002 |
| FCC Co. Ltd. | &nbsp;&nbsp; 10100 | 157564 |
| Ferrotec Holdings Corp. | &nbsp;&nbsp; 13000 | 215565 |
| Financial Products Group Co. Ltd. | &nbsp;&nbsp; 19900 | 345619 |
| Food & Life Companies Ltd. | &nbsp;&nbsp; 31600 | 553761 |
| FP Corp. | &nbsp;&nbsp; 11400 | 196636 |
| FP Partner Inc.<sup>(b)</sup> | &nbsp;&nbsp; 2200 | 45465 |
| Freee KK<sup>(a)</sup> | &nbsp;&nbsp; 12800 | 209717 |
| Frontier Real Estate Investment Corp. | &nbsp;&nbsp; 150 | 434836 |
| Fuji Co. Ltd./Ehime | &nbsp;&nbsp; 6100 | 80238 |
| Fuji Corp./Aichi | &nbsp;&nbsp; 20900 | 349508 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 35900 | 2019264 |
| Fuji Kyuko Co. Ltd. | &nbsp;&nbsp; 6100 | 124485 |
| Fuji Media Holdings Inc. | &nbsp;&nbsp; 13100 | 164203 |
| Fuji Oil Holdings Inc. | &nbsp;&nbsp; 11700 | 244290 |
| Fuji Seal International Inc. | &nbsp;&nbsp; 9000 | 143880 |
| Fuji Soft Inc. | &nbsp;&nbsp; 14200 | 680326 |
| Fujicco Co. Ltd. | &nbsp;&nbsp; 3200 | 39601 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 317100 | 7539346 |
| Fujikura Ltd. | &nbsp;&nbsp; 71800 | 1438414 |
| Fujimi Inc. | &nbsp;&nbsp; 13500 | 283530 |
| Fujimori Kogyo Co. Ltd. | &nbsp;&nbsp; 4300 | 129323 |
| Fujio Food Group Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 6300 | 58945 |
| Fujitec Co. Ltd. | &nbsp;&nbsp; 17200 | 497514 |
| Fujitsu General Ltd. | &nbsp;&nbsp; 20600 | 270273 |
| Fujitsu Ltd. | &nbsp;&nbsp; 498100 | 9045575 |
| Fujiya Co. Ltd. | &nbsp;&nbsp; 3300 | 59762 |
| Fukuda Denshi Co. Ltd. | &nbsp;&nbsp; 4300 | 193711 |
| Fukuoka Financial Group Inc. | &nbsp;&nbsp; 50432 | 1414560 |
| Fukuoka REIT Corp. | &nbsp;&nbsp; 206 | 215669 |
| Fukushima Galilei Co. Ltd. | &nbsp;&nbsp; 4200 | 188845 |
| Fukuyama Transporting Co. Ltd. | &nbsp;&nbsp; 6300 | 169937 |
| Funai Soken Holdings Inc. | &nbsp;&nbsp; 10200 | 148838 |
| Furukawa Co. Ltd. | &nbsp;&nbsp; 4900 | 59850 |
| Furukawa Electric Co. Ltd. | &nbsp;&nbsp; 19700 | 538928 |
| Furuya Metal Co. Ltd. | &nbsp;&nbsp; 4500 | 136892 |
| Fuso Chemical Co. Ltd. | &nbsp;&nbsp; 5700 | 147532 |
| Future Corp. | &nbsp;&nbsp; 8900 | 101898 |
| Fuyo General Lease Co. Ltd. | &nbsp;&nbsp; 5000 | 408666 |
| G-7 Holdings Inc. | &nbsp;&nbsp; 3000 | 33800 |
| Genky DrugStores Co. Ltd. | &nbsp;&nbsp; 6200 | 143093 |
| Geo Holdings Corp. | &nbsp;&nbsp; 4400 | 48314 |
| Global One Real Estate Investment Corp. | &nbsp;&nbsp; 323 | 218283 |
| Glory Ltd. | &nbsp;&nbsp; 11600 | 210879 |
| GLP J-REIT | &nbsp;&nbsp; 1308 | 1145917 |
| GMO Financial Gate Inc. | &nbsp;&nbsp; 1500 | 66380 |
| GMO Financial Holdings Inc. | &nbsp;&nbsp; 9500 | 40630 |
| GMO internet group Inc. | &nbsp;&nbsp; 21000 | 347937 |
| GMO Payment Gateway Inc. | &nbsp;&nbsp; 12000 | 687891 |
| GNI Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 14500 | 221944 |
| Godo Steel Ltd. | &nbsp;&nbsp; 2500 | 81271 |
| Goldcrest Co. Ltd. | &nbsp;&nbsp; 3600 | 68807 |
| Goldwin Inc. | &nbsp;&nbsp; 5900 | 363369 |
| Gree Inc. | &nbsp;&nbsp; 8800 | 31114 |
| GS Yuasa Corp. | &nbsp;&nbsp; 21500 | 382555 |
| G-Tekt Corp. | &nbsp;&nbsp; 4900 | 59430 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| GungHo Online Entertainment Inc. | &nbsp;&nbsp; 10300 | $201375 |
| Gunma Bank Ltd. (The) | &nbsp;&nbsp; 93300 | 632954 |
| Gunze Ltd. | &nbsp;&nbsp; 3900 | 144814 |
| H.U. Group Holdings Inc. | &nbsp;&nbsp; 14300 | 251659 |
| H2O Retailing Corp. | &nbsp;&nbsp; 27900 | 485310 |
| Hachijuni Bank Ltd. (The) | &nbsp;&nbsp; 99300 | 707770 |
| Hakuhodo DY Holdings Inc. | &nbsp;&nbsp; 63000 | 514479 |
| Hakuto Co. Ltd. | &nbsp;&nbsp; 3000 | 100470 |
| Halows Co. Ltd. | &nbsp;&nbsp; 2200 | 67049 |
| Hamakyorex Co. Ltd. | &nbsp;&nbsp; 4900 | 155365 |
| Hamamatsu Photonics KK | &nbsp;&nbsp; 39500 | 1137558 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 65500 | 1868972 |
| Hankyu Hanshin REIT Inc. | &nbsp;&nbsp; 210 | 186511 |
| Hanwa Co. Ltd. | &nbsp;&nbsp; 8700 | 336277 |
| Harmonic Drive Systems Inc. | &nbsp;&nbsp; 13900 | 381999 |
| Haseko Corp. | &nbsp;&nbsp; 67200 | 838620 |
| Hazama Ando Corp. | &nbsp;&nbsp; 40500 | 327284 |
| Heiwa Corp. | &nbsp;&nbsp; 14200 | 203720 |
| Heiwa Real Estate Co. Ltd. | &nbsp;&nbsp; 9400 | 270187 |
| Heiwa Real Estate REIT Inc.<sup>(b)</sup> | &nbsp;&nbsp; 304 | 266248 |
| Heiwado Co. Ltd. | &nbsp;&nbsp; 8700 | 142448 |
| Hiday Hidaka Corp. | &nbsp;&nbsp; 7800 | 144384 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 5000 | 936271 |
| Hino Motors Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 70700 | 228405 |
| Hioki EE Corp | &nbsp;&nbsp; 2000 | 107241 |
| Hirata Corp. | &nbsp;&nbsp; 2000 | 82785 |
| Hirogin Holdings Inc. | &nbsp;&nbsp; 70400 | 571448 |
| Hirose Electric Co. Ltd. | &nbsp;&nbsp; 8400 | 1051712 |
| HIS Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 18500 | 213401 |
| Hisamitsu Pharmaceutical Co. Inc. | &nbsp;&nbsp; 13900 | 382859 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 29000 | 722306 |
| Hitachi Ltd. | &nbsp;&nbsp; 1316100 | 28436529 |
| Hitachi Zosen Corp. | &nbsp;&nbsp; 48900 | 355010 |
| Hogy Medical Co. Ltd. | &nbsp;&nbsp; 6200 | 170557 |
| Hokkaido Electric Power Co. Inc. | &nbsp;&nbsp; 49100 | 333874 |
| Hokkoku Financial Holdings Inc. | &nbsp;&nbsp; 5100 | 192029 |
| Hokuetsu Corp.<sup>(b)</sup> | &nbsp;&nbsp; 31800 | 246169 |
| Hokuhoku Financial Group Inc. | &nbsp;&nbsp; 32800 | 458693 |
| Hokuriku Electric Power Co. | &nbsp;&nbsp; 52000 | 333293 |
| Hokuto Corp. | &nbsp;&nbsp; 3100 | 39584 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 1276500 | 13638857 |
| Horiba Ltd. | &nbsp;&nbsp; 9400 | 743965 |
| Hoshino Resorts REIT Inc. | &nbsp;&nbsp; 69 | 238706 |
| Hoshizaki Corp. | &nbsp;&nbsp; 31300 | 985756 |
| Hosiden Corp. | &nbsp;&nbsp; 10600 | 144612 |
| House Foods Group Inc. | &nbsp;&nbsp; 19200 | 378767 |
| Hoya Corp. | &nbsp;&nbsp; 99700 | 12492483 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 105500 | 1029796 |
| Hulic REIT Inc. | &nbsp;&nbsp; 389 | 370270 |
| Hyakugo Bank Ltd. (The) | &nbsp;&nbsp; 64000 | 286552 |
| Ibiden Co. Ltd. | &nbsp;&nbsp; 32200 | 1248142 |
| Ichibanya Co. Ltd. | &nbsp;&nbsp; 18000 | 128080 |
| Ichigo Inc. | &nbsp;&nbsp; 71200 | 200730 |
| Ichigo Office REIT Investment Corp. | &nbsp;&nbsp; 314 | 175346 |
| Idec Corp./Japan | &nbsp;&nbsp; 7800 | 160702 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 260435 | 1715307 |
| IDOM Inc. | &nbsp;&nbsp; 20700 | 157186 |
| IHI Corp. | &nbsp;&nbsp; 39000 | 1422744 |
| Iida Group Holdings Co. Ltd. | &nbsp;&nbsp; 44100 | 662896 |
| Iino Kaiun Kaisha Ltd. | &nbsp;&nbsp; 17300 | 146198 |
| I'll Inc. | &nbsp;&nbsp; 2800 | 50091 |
| Inaba Denki Sangyo Co. Ltd. | &nbsp;&nbsp; 15400 | 403767 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Inabata & Co. Ltd. | &nbsp;&nbsp; 14400 | $322491 |
| Industrial & Infrastructure Fund Investment Corp. | &nbsp;&nbsp; 682 | 562832 |
| Infomart Corp. | &nbsp;&nbsp; 56900 | 121849 |
| Infroneer Holdings Inc. | &nbsp;&nbsp; 51900 | 450054 |
| Inpex Corp. | &nbsp;&nbsp; 268300 | 4142950 |
| Insource Co. Ltd. | &nbsp;&nbsp; 9500 | 55708 |
| Institute for Q-Shu Pioneers of Space Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 4800 | 50763 |
| Internet Initiative Japan Inc. | &nbsp;&nbsp; 29900 | 505655 |
| Invincible Investment Corp. | &nbsp;&nbsp; 2169 | 982448 |
| Iriso Electronics Co. Ltd. | &nbsp;&nbsp; 4500 | 90446 |
| Ise Chemicals Corp.<sup>(b)</sup> | &nbsp;&nbsp; 600 | 82282 |
| Isetan Mitsukoshi Holdings Ltd. | &nbsp;&nbsp; 96300 | 1915918 |
| Ispace Inc./Japan, NVS<sup>(a)</sup> | &nbsp;&nbsp; 6600 | 26705 |
| Isuzu Motors Ltd. | &nbsp;&nbsp; 164800 | 2229270 |
| Ito En Ltd. | &nbsp;&nbsp; 14600 | 346134 |
| ITOCHU Corp. | &nbsp;&nbsp; 337700 | 17318413 |
| Itochu Enex Co. Ltd. | &nbsp;&nbsp; 17800 | 203185 |
| Itochu-Shokuhin Co. Ltd. | &nbsp;&nbsp; 1300 | 60127 |
| Itoham Yonekyu Holdings Inc. | &nbsp;&nbsp; 6980 | 206033 |
| Itoki Corp. | &nbsp;&nbsp; 10300 | 104174 |
| Iwatani Corp. | &nbsp;&nbsp; 11800 | 748841 |
| Iyogin Holdings Inc., NVS | &nbsp;&nbsp; 66300 | 666129 |
| Izumi Co. Ltd. | &nbsp;&nbsp; 7600 | 181081 |
| J Front Retailing Co. Ltd. | &nbsp;&nbsp; 67200 | 814012 |
| J Trust Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 22100 | 60687 |
| JAC Recruitment Co. Ltd. | &nbsp;&nbsp; 18000 | 86806 |
| Jaccs Co. Ltd. | &nbsp;&nbsp; 5800 | 188304 |
| JAFCO Group Co. Ltd. | &nbsp;&nbsp; 12800 | 162016 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 40800 | 661077 |
| Japan Airport Terminal Co. Ltd. | &nbsp;&nbsp; 17600 | 642475 |
| Japan Aviation Electronics Industry Ltd. | &nbsp;&nbsp; 14200 | 237969 |
| Japan Elevator Service Holdings Co. Ltd. | &nbsp;&nbsp; 20900 | 385675 |
| Japan Excellent Inc. | &nbsp;&nbsp; 366 | 291148 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 139500 | 3275238 |
| Japan Hotel REIT Investment Corp. | &nbsp;&nbsp; 1350 | 689607 |
| Japan Lifeline Co. Ltd. | &nbsp;&nbsp; 13700 | 106101 |
| Japan Logistics Fund Inc. | &nbsp;&nbsp; 263 | 449938 |
| Japan Material Co. Ltd. | &nbsp;&nbsp; 20000 | 265348 |
| Japan Metropolitan Fund Invest | &nbsp;&nbsp; 2001 | 1249420 |
| Japan Petroleum Exploration Co. Ltd. | &nbsp;&nbsp; 9000 | 371094 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 412300 | 4290463 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 590600 | 6254725 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 54200 | 1115844 |
| Japan Prime Realty Investment Corp. | &nbsp;&nbsp; 244 | 530882 |
| Japan Pulp & Paper Co. Ltd. | &nbsp;&nbsp; 1600 | 70619 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 350 | 1213977 |
| Japan Securities Finance Co. Ltd. | &nbsp;&nbsp; 19700 | 224492 |
| Japan Steel Works Ltd. (The) | &nbsp;&nbsp; 19300 | 548801 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 340300 | 10013388 |
| Japan Wool Textile Co. Ltd. (The) | &nbsp;&nbsp; 14400 | 127849 |
| JCR Pharmaceuticals Co. Ltd. | &nbsp;&nbsp; 19900 | 77647 |
| JCU Corp. | &nbsp;&nbsp; 4400 | 109731 |
| Jeol Ltd. | &nbsp;&nbsp; 12100 | 487174 |
| JFE Holdings Inc. | &nbsp;&nbsp; 166100 | 2433092 |
| JGC Holdings Corp. | &nbsp;&nbsp; 63600 | 540136 |
| JINS Holdings Inc. | &nbsp;&nbsp; 4400 | 135062 |
| JMDC Inc. | &nbsp;&nbsp; 6000 | 133167 |
| J-Oil Mills Inc. | &nbsp;&nbsp; 3600 | 50217 |
| Joshin Denki Co. Ltd. | &nbsp;&nbsp; 3300 | 62065 |
| Joyful Honda Co. Ltd. | &nbsp;&nbsp; 13000 | 189240 |
| JTEKT Corp. | &nbsp;&nbsp; 63200 | 454293 |
| JTOWER Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1900 | 20710 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Juroku Financial Group Inc. | &nbsp;&nbsp; 7400 | $237464 |
| Justsystems Corp. | &nbsp;&nbsp; 8700 | 184060 |
| JVCKenwood Corp. | &nbsp;&nbsp; 44000 | 269580 |
| K&O Energy Group Inc. | &nbsp;&nbsp; 3500 | 79624 |
| Kadokawa Corp. | &nbsp;&nbsp; 25100 | 464168 |
| Kaga Electronics Co. Ltd. | &nbsp;&nbsp; 5100 | 185035 |
| Kagome Co. Ltd. | &nbsp;&nbsp; 21900 | 511531 |
| Kajima Corp. | &nbsp;&nbsp; 120800 | 2334281 |
| Kakaku.com Inc. | &nbsp;&nbsp; 36000 | 503262 |
| Kaken Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 7600 | 206843 |
| Kameda Seika Co. Ltd. | &nbsp;&nbsp; 4300 | 125460 |
| Kamigumi Co. Ltd. | &nbsp;&nbsp; 22500 | 513131 |
| Kanamoto Co. Ltd. | &nbsp;&nbsp; 9800 | 183123 |
| Kandenko Co. Ltd. | &nbsp;&nbsp; 34400 | 464616 |
| Kaneka Corp. | &nbsp;&nbsp; 11500 | 325150 |
| Kanematsu Corp. | &nbsp;&nbsp; 20600 | 348905 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 201400 | 3447121 |
| Kansai Paint Co. Ltd. | &nbsp;&nbsp; 46700 | 766972 |
| Kao Corp. | &nbsp;&nbsp; 133300 | 5837163 |
| Kappa Create Co. Ltd. | &nbsp;&nbsp; 4500 | 56644 |
| Kasumigaseki Capital Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2200 | 190051 |
| Katakura Industries Co. Ltd. | &nbsp;&nbsp; 2700 | 37652 |
| Katitas Co. Ltd. | &nbsp;&nbsp; 12400 | 155440 |
| Kato Sangyo Co. Ltd. | &nbsp;&nbsp; 5600 | 159438 |
| Kawasaki Heavy Industries Ltd. | &nbsp;&nbsp; 41600 | 1526371 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 111600 | 1714751 |
| KDDI Corp. | &nbsp;&nbsp; 426300 | 12827369 |
| KDX Realty Investment Corp. | &nbsp;&nbsp; 1206 | 1243356 |
| KeePer Technical Laboratory Co. Ltd. | &nbsp;&nbsp; 3600 | 87143 |
| Keihan Holdings Co. Ltd. | &nbsp;&nbsp; 29200 | 595212 |
| Keihanshin Building Co. Ltd. | &nbsp;&nbsp; 4300 | 46889 |
| Keikyu Corp. | &nbsp;&nbsp; 63600 | 502867 |
| Keio Corp. | &nbsp;&nbsp; 28800 | 721121 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 36400 | 1088690 |
| Keiyo Bank Ltd. (The) | &nbsp;&nbsp; 28400 | 159823 |
| Kewpie Corp. | &nbsp;&nbsp; 29200 | 750052 |
| Keyence Corp. | &nbsp;&nbsp; 55400 | 24224211 |
| KH Neochem Co. Ltd. | &nbsp;&nbsp; 9100 | 135731 |
| Kikkoman Corp. | &nbsp;&nbsp; 195400 | 2445225 |
| Kinden Corp. | &nbsp;&nbsp; 32700 | 689907 |
| Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp; 52700 | 1220542 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 225700 | 3190850 |
| Kisoji Co. Ltd. | &nbsp;&nbsp; 8600 | 151722 |
| Kissei Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 6900 | 160440 |
| Ki-Star Real Estate Co. Ltd. | &nbsp;&nbsp; 1400 | 32360 |
| Kitz Corp. | &nbsp;&nbsp; 12300 | 90646 |
| Kiyo Bank Ltd. (The) | &nbsp;&nbsp; 13200 | 172650 |
| Koa Corp. | &nbsp;&nbsp; 6300 | 55713 |
| Kobayashi Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 12200 | 490753 |
| Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 41200 | 1106173 |
| Kobe Steel Ltd. | &nbsp;&nbsp; 108200 | 1350589 |
| Koei Tecmo Holdings Co. Ltd. | &nbsp;&nbsp; 34872 | 340802 |
| Kohnan Shoji Co. Ltd. | &nbsp;&nbsp; 5300 | 142912 |
| Koito Manufacturing Co. Ltd. | &nbsp;&nbsp; 57400 | 848734 |
| Kokuyo Co. Ltd. | &nbsp;&nbsp; 22600 | 379226 |
| Komatsu Ltd. | &nbsp;&nbsp; 262700 | 7467924 |
| KOMEDA Holdings Co. Ltd. | &nbsp;&nbsp; 11200 | 200789 |
| Komeri Co. Ltd. | &nbsp;&nbsp; 8400 | 205658 |
| Konami Group Corp. | &nbsp;&nbsp; 29100 | 2189472 |
| Konica Minolta Inc. | &nbsp;&nbsp; 142200 | 416909 |
| Konishi Co. Ltd. | &nbsp;&nbsp; 18800 | 149777 |
| Konoike Transport Co. Ltd. | &nbsp;&nbsp; 5500 | 87980 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Kosaido Holdings Co. Ltd. | &nbsp;&nbsp; 21100 | $75787 |
| Kose Corp. | &nbsp;&nbsp; 9300 | 621484 |
| Koshidaka Holdings Co. Ltd. | &nbsp;&nbsp; 18500 | 124528 |
| Kotobuki Spirits Co. Ltd. | &nbsp;&nbsp; 25600 | 328757 |
| Krosaki Harima Corp. | &nbsp;&nbsp; 4800 | 84519 |
| K's Holdings Corp. | &nbsp;&nbsp; 39200 | 423096 |
| Kubota Corp. | &nbsp;&nbsp; 285400 | 4103170 |
| Kumagai Gumi Co. Ltd. | &nbsp;&nbsp; 8200 | 196533 |
| Kumiai Chemical Industry Co. Ltd. | &nbsp;&nbsp; 26900 | 141511 |
| Kura Sushi Inc. | &nbsp;&nbsp; 4700 | 121719 |
| Kuraray Co. Ltd. | &nbsp;&nbsp; 83700 | 1023570 |
| Kureha Corp. | &nbsp;&nbsp; 11400 | 226442 |
| Kurita Water Industries Ltd. | &nbsp;&nbsp; 29400 | 1254756 |
| Kusuri no Aoki Holdings Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 13800 | 287502 |
| KYB Corp. | &nbsp;&nbsp; 4800 | 166750 |
| Kyocera Corp. | &nbsp;&nbsp; 364500 | 4590863 |
| Kyoei Steel Ltd. | &nbsp;&nbsp; 4800 | 63885 |
| Kyokuto Kaihatsu Kogyo Co. Ltd. | &nbsp;&nbsp; 10000 | 178397 |
| Kyorin Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 10900 | 124575 |
| Kyoritsu Maintenance Co. Ltd. | &nbsp;&nbsp; 18600 | 361100 |
| Kyoto Financial Group Inc. | &nbsp;&nbsp; 66000 | 1232708 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 74900 | 1579836 |
| Kyudenko Corp. | &nbsp;&nbsp; 12100 | 557338 |
| Kyushu Electric Power Co. Inc. | &nbsp;&nbsp; 114600 | 1209668 |
| Kyushu Financial Group Inc. | &nbsp;&nbsp; 99900 | 615343 |
| Kyushu Railway Co. | &nbsp;&nbsp; 38700 | 1032987 |
| LaSalle Logiport REIT | &nbsp;&nbsp; 522 | 515022 |
| Lasertec Corp. | &nbsp;&nbsp; 23200 | 4116449 |
| Leopalace21 Corp. | &nbsp;&nbsp; 40700 | 149514 |
| Life Corp. | &nbsp;&nbsp; 7700 | 187501 |
| Lifenet Insurance Co.<sup>(a)(b)</sup> | &nbsp;&nbsp; 19300 | 219097 |
| Lintec Corp. | &nbsp;&nbsp; 11400 | 256318 |
| Lion Corp. | &nbsp;&nbsp; 72900 | 630858 |
| LITALICO Inc. | &nbsp;&nbsp; 3900 | 32021 |
| Lixil Corp. | &nbsp;&nbsp; 78700 | 911044 |
| LY Corp. | &nbsp;&nbsp; 771200 | 1929477 |
| M&A Capital Partners Co. Ltd. | &nbsp;&nbsp; 5300 | 75068 |
| M&A Research Institute Holdings Inc., NVS<sup>(a)</sup> | &nbsp;&nbsp; 8200 | 165174 |
| M3 Inc. | &nbsp;&nbsp; 127000 | 1185832 |
| Mabuchi Motor Co. Ltd. | &nbsp;&nbsp; 28600 | 439649 |
| Macnica Holdings Inc. | &nbsp;&nbsp; 12800 | 516583 |
| Maeda Kosen Co. Ltd. | &nbsp;&nbsp; 11400 | 124810 |
| Makino Milling Machine Co. Ltd. | &nbsp;&nbsp; 6500 | 291630 |
| Makita Corp. | &nbsp;&nbsp; 63600 | 2096410 |
| Mandom Corp. | &nbsp;&nbsp; 12200 | 103381 |
| Mani Inc. | &nbsp;&nbsp; 21700 | 305220 |
| Marubeni Corp. | &nbsp;&nbsp; 406700 | 7653997 |
| Maruha Nichiro Corp. | &nbsp;&nbsp; 9500 | 212442 |
| Marui Group Co. Ltd. | &nbsp;&nbsp; 44700 | 724222 |
| Maruichi Steel Tube Ltd. | &nbsp;&nbsp; 18300 | 445956 |
| Maruwa Co. Ltd./Aichi | &nbsp;&nbsp; 2400 | 642996 |
| Maruzen Showa Unyu Co. Ltd. | &nbsp;&nbsp; 4300 | 154675 |
| Matsuda Sangyo Co. Ltd. | &nbsp;&nbsp; 3600 | 71169 |
| Matsui Securities Co. Ltd. | &nbsp;&nbsp; 32800 | 183857 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 99290 | 1619211 |
| Matsuyafoods Holdings Co. Ltd. | &nbsp;&nbsp; 1700 | 66725 |
| Max Co. Ltd. | &nbsp;&nbsp; 5800 | 145114 |
| Maxell Ltd. | &nbsp;&nbsp; 10400 | 119338 |
| Maxvalu Tokai Co. Ltd. | &nbsp;&nbsp; 2400 | 50733 |
| Mazda Motor Corp. | &nbsp;&nbsp; 159700 | 1377479 |
| McDonald's Holdings Co. Japan Ltd. | &nbsp;&nbsp; 24700 | 1023300 |
| MCJ Co. Ltd. | &nbsp;&nbsp; 16800 | 152843 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Mebuki Financial Group Inc. | &nbsp;&nbsp; 269390 | $1121323 |
| Medipal Holdings Corp. | &nbsp;&nbsp; 53500 | 965689 |
| Medley Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5300 | 144728 |
| Megachips Corp. | &nbsp;&nbsp; 4600 | 128922 |
| Megmilk Snow Brand Co. Ltd. | &nbsp;&nbsp; 11900 | 226343 |
| Meidensha Corp. | &nbsp;&nbsp; 9900 | 226066 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 66600 | 1681941 |
| Meiko Electronics Co. Ltd. | &nbsp;&nbsp; 5200 | 208453 |
| MEITEC Group Holdings Inc. | &nbsp;&nbsp; 20500 | 462891 |
| Menicon Co. Ltd. | &nbsp;&nbsp; 19600 | 183297 |
| Mercari Inc.<sup>(a)</sup> | &nbsp;&nbsp; 30800 | 461759 |
| METAWATER Co. Ltd. | &nbsp;&nbsp; 8600 | 106802 |
| Micronics Japan Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 7800 | 309942 |
| Mie Kotsu Group Holdings Inc. | &nbsp;&nbsp; 25700 | 94575 |
| Milbon Co. Ltd. | &nbsp;&nbsp; 6400 | 142348 |
| Mimasu Semiconductor Industry Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2700 | 66502 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 105200 | 2530514 |
| Mirai Corp. | &nbsp;&nbsp; 583 | 173834 |
| Mirai Industry Co. Ltd. | &nbsp;&nbsp; 3200 | 77104 |
| Mirait One Corp. | &nbsp;&nbsp; 22900 | 325442 |
| MISUMI Group Inc. | &nbsp;&nbsp; 83900 | 1543981 |
| Mitani Sekisan Co. Ltd. | &nbsp;&nbsp; 2800 | 104854 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 391100 | 2309932 |
| Mitsubishi Corp. | &nbsp;&nbsp; 948900 | 19596734 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 550300 | 9168970 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 317800 | 5416560 |
| Mitsubishi Estate Logistics REIT Investment Corp. | &nbsp;&nbsp; 148 | 373088 |
| Mitsubishi Gas Chemical Co. Inc. | &nbsp;&nbsp; 44300 | 837492 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 232500 | 1672702 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 912600 | 10938492 |
| Mitsubishi Logisnext Co. Ltd. | &nbsp;&nbsp; 8400 | 73759 |
| Mitsubishi Logistics Corp. | &nbsp;&nbsp; 13900 | 486205 |
| Mitsubishi Materials Corp. | &nbsp;&nbsp; 35700 | 668889 |
| Mitsubishi Motors Corp. | &nbsp;&nbsp; 181600 | 517685 |
| Mitsubishi Pencil Co. Ltd. | &nbsp;&nbsp; 10400 | 161375 |
| Mitsubishi Research Institute Inc. | &nbsp;&nbsp; 1600 | 50443 |
| Mitsubishi Shokuhin Co. Ltd. | &nbsp;&nbsp; 5400 | 190540 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 3154800 | 36439046 |
| Mitsuboshi Belting Ltd. | &nbsp;&nbsp; 7400 | 217087 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 730900 | 16959720 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 49300 | 1425362 |
| Mitsui DM Sugar Holdings Co. Ltd. | &nbsp;&nbsp; 3200 | 70311 |
| Mitsui E&S Co. Ltd. | &nbsp;&nbsp; 26700 | 232444 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 760600 | 7879709 |
| Mitsui Fudosan Logistics Park Inc. | &nbsp;&nbsp; 172 | 484644 |
| Mitsui High-Tec Inc. | &nbsp;&nbsp; 31000 | 241830 |
| Mitsui Mining & Smelting Co. Ltd. | &nbsp;&nbsp; 16500 | 550085 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 97100 | 3084202 |
| Mitsui-Soko Holdings Co. Ltd. | &nbsp;&nbsp; 6100 | 194437 |
| Mitsuuroko Group Holdings Co. Ltd. | &nbsp;&nbsp; 7600 | 85285 |
| Miura Co. Ltd. | &nbsp;&nbsp; 25100 | 582990 |
| Mixi Inc. | &nbsp;&nbsp; 11500 | 228236 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 684920 | 15657370 |
| Mizuho Leasing Co. Ltd. | &nbsp;&nbsp; 33500 | 252784 |
| Mizuno Corp. | &nbsp;&nbsp; 5200 | 262719 |
| Mochida Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 5000 | 117441 |
| Modec Inc.<sup>(b)</sup> | &nbsp;&nbsp; 12200 | 227579 |
| Monex Group Inc. | &nbsp;&nbsp; 48800 | 237242 |
| Money Forward Inc.<sup>(a)</sup> | &nbsp;&nbsp; 11800 | 394308 |
| Monogatari Corp. (The) | &nbsp;&nbsp; 8100 | 183832 |
| MonotaRO Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 70300 | 993782 |
| Mori Hills REIT Investment Corp. | &nbsp;&nbsp; 422 | 362669 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Mori Trust REIT Inc. | &nbsp;&nbsp; 682 | $316947 |
| Morinaga & Co. Ltd./Japan | &nbsp;&nbsp; 20400 | 391520 |
| Morinaga Milk Industry Co. Ltd. | &nbsp;&nbsp; 19800 | 475167 |
| Morita Holdings Corp. | &nbsp;&nbsp; 5100 | 65722 |
| MOS Food Services Inc. | &nbsp;&nbsp; 6300 | 148548 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 363900 | 8578774 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 491100 | 10925980 |
| Musashi Seimitsu Industry Co. Ltd. | &nbsp;&nbsp; 11800 | 164866 |
| Musashino Bank Ltd. (The) | &nbsp;&nbsp; 5800 | 124866 |
| Nabtesco Corp. | &nbsp;&nbsp; 31800 | 629541 |
| Nachi-Fujikoshi Corp. | &nbsp;&nbsp; 2200 | 48616 |
| Nafco Co. Ltd. | &nbsp;&nbsp; 3900 | 77877 |
| Nagaileben Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 7700 | 138191 |
| Nagase & Co. Ltd. | &nbsp;&nbsp; 24100 | 529448 |
| Nagawa Co. Ltd. | &nbsp;&nbsp; 2500 | 128015 |
| Nagoya Railroad Co. Ltd. | &nbsp;&nbsp; 51900 | 631616 |
| Nakanishi Inc. | &nbsp;&nbsp; 20900 | 361043 |
| Namura Shipbuilding Co. Ltd. | &nbsp;&nbsp; 14200 | 184155 |
| Nankai Electric Railway Co. Ltd. | &nbsp;&nbsp; 29900 | 529158 |
| Nanto Bank Ltd. (The) | &nbsp;&nbsp; 8500 | 198348 |
| NEC Corp. | &nbsp;&nbsp; 70000 | 6058824 |
| NEC Networks & System Integration Corp. | &nbsp;&nbsp; 19700 | 362825 |
| NET One Systems Co. Ltd. | &nbsp;&nbsp; 23800 | 480909 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 95100 | 2048331 |
| Nextage Co. Ltd. | &nbsp;&nbsp; 12300 | 167464 |
| NGK Insulators Ltd. | &nbsp;&nbsp; 65400 | 883882 |
| NH Foods Ltd. | &nbsp;&nbsp; 25900 | 855506 |
| NHK Spring Co. Ltd. | &nbsp;&nbsp; 56900 | 625768 |
| Nichias Corp. | &nbsp;&nbsp; 15200 | 473463 |
| Nichicon Corp. | &nbsp;&nbsp; 10700 | 78355 |
| Nichiden Corp. | &nbsp;&nbsp; 2900 | 66894 |
| Nichiha Corp. | &nbsp;&nbsp; 4900 | 122520 |
| Nichirei Corp. | &nbsp;&nbsp; 31800 | 838495 |
| Nidec Corp. | &nbsp;&nbsp; 118400 | 5208495 |
| Nifco Inc./Japan | &nbsp;&nbsp; 23600 | 598382 |
| Nihon Kohden Corp. | &nbsp;&nbsp; 46000 | 708833 |
| Nihon M&A Center Holdings Inc. | &nbsp;&nbsp; 92500 | 436571 |
| Nihon Parkerizing Co. Ltd. | &nbsp;&nbsp; 27000 | 222940 |
| Nikkiso Co. Ltd. | &nbsp;&nbsp; 12100 | 95725 |
| Nikkon Holdings Co. Ltd. | &nbsp;&nbsp; 13800 | 348063 |
| Nikon Corp. | &nbsp;&nbsp; 84700 | 972833 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 296300 | 16373061 |
| Nippn Corp., New | &nbsp;&nbsp; 11000 | 172917 |
| Nippon Accommodations Fund Inc. | &nbsp;&nbsp; 136 | 581943 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 428 | 1651759 |
| Nippon Carbon Co. Ltd. | &nbsp;&nbsp; 1700 | 56192 |
| Nippon Ceramic Co. Ltd. | &nbsp;&nbsp; 6300 | 104249 |
| Nippon Densetsu Kogyo Co. Ltd. | &nbsp;&nbsp; 10100 | 135848 |
| Nippon Electric Glass Co. Ltd. | &nbsp;&nbsp; 23000 | 548824 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 21600 | 1068787 |
| Nippon Gas Co. Ltd. | &nbsp;&nbsp; 31000 | 483226 |
| Nippon Kanzai Holdings Co. Ltd. | &nbsp;&nbsp; 7200 | 132120 |
| Nippon Kayaku Co. Ltd. | &nbsp;&nbsp; 39100 | 326978 |
| Nippon Light Metal Holdings Co. Ltd. | &nbsp;&nbsp; 19010 | 223425 |
| Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp; 276500 | 1765030 |
| Nippon Paper Industries Co. Ltd. | &nbsp;&nbsp; 32100 | 207867 |
| Nippon Parking Development Co. Ltd. | &nbsp;&nbsp; 58800 | 80862 |
| Nippon Prologis REIT Inc. | &nbsp;&nbsp; 628 | 1037580 |
| Nippon REIT Investment Corp. | &nbsp;&nbsp; 109 | 239539 |
| Nippon Road Co. Ltd. (The) | &nbsp;&nbsp; 5000 | 56018 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 48800 | 1594869 |
| Nippon Seiki Co. Ltd. | &nbsp;&nbsp; 18000 | 164435 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Nippon Shinyaku Co. Ltd. | &nbsp;&nbsp; 17000 | $388714 |
| Nippon Shokubai Co. Ltd. | &nbsp;&nbsp; 31800 | 344812 |
| Nippon Signal Company Ltd. | &nbsp;&nbsp; 6200 | 43129 |
| Nippon Soda Co. Ltd. | &nbsp;&nbsp; 6600 | 237305 |
| Nippon Steel Corp. | &nbsp;&nbsp; 243028 | 5276720 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 8466100 | 9022435 |
| Nippon Television Holdings Inc. | &nbsp;&nbsp; 13300 | 213014 |
| Nippon Yusen KK | &nbsp;&nbsp; 131500 | 4237440 |
| Nipro Corp. | &nbsp;&nbsp; 38900 | 339688 |
| Nishimatsu Construction Co. Ltd. | &nbsp;&nbsp; 10100 | 329194 |
| Nishimatsuya Chain Co. Ltd. | &nbsp;&nbsp; 12400 | 188874 |
| Nishi-Nippon Financial Holdings Inc. | &nbsp;&nbsp; 32500 | 442510 |
| Nishi-Nippon Railroad Co. Ltd. | &nbsp;&nbsp; 14600 | 242426 |
| Nishio Holdings Co. Ltd. | &nbsp;&nbsp; 5900 | 160302 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 35400 | 1142214 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 668900 | 2123172 |
| Nissan Shatai Co. Ltd. | &nbsp;&nbsp; 24500 | 152922 |
| Nissha Co. Ltd. | &nbsp;&nbsp; 9100 | 111033 |
| Nisshin Oillio Group Ltd. (The) | &nbsp;&nbsp; 8100 | 279520 |
| Nisshin Seifun Group Inc. | &nbsp;&nbsp; 58400 | 722667 |
| Nisshinbo Holdings Inc. | &nbsp;&nbsp; 34000 | 249150 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 57800 | 1718555 |
| Nissui Corp. | &nbsp;&nbsp; 75500 | 453182 |
| Niterra Co. Ltd. | &nbsp;&nbsp; 43500 | 1288392 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 22900 | 2800566 |
| Nitta Corp. | &nbsp;&nbsp; 5800 | 157675 |
| Nittetsu Mining Co. Ltd. | &nbsp;&nbsp; 2400 | 76111 |
| Nitto Boseki Co. Ltd. | &nbsp;&nbsp; 7400 | 280057 |
| Nitto Denko Corp. | &nbsp;&nbsp; 40700 | 3534122 |
| Nitto Kogyo Corp. | &nbsp;&nbsp; 6000 | 136418 |
| Noevir Holdings Co. Ltd. | &nbsp;&nbsp; 3900 | 150790 |
| NOF Corp. | &nbsp;&nbsp; 58300 | 835467 |
| Nohmi Bosai Ltd. | &nbsp;&nbsp; 8100 | 133790 |
| Nojima Corp. | &nbsp;&nbsp; 21200 | 233132 |
| NOK Corp. | &nbsp;&nbsp; 22600 | 330342 |
| Nomura Co. Ltd. | &nbsp;&nbsp; 26000 | 150995 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 859600 | 5299956 |
| Nomura Micro Science Co. Ltd. | &nbsp;&nbsp; 7200 | 171444 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 32200 | 900141 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 1193 | 1170392 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 107210 | 3309754 |
| Noritake Co. Ltd./Nagoya Japan | &nbsp;&nbsp; 6200 | 164650 |
| Noritsu Koki Co. Ltd. | &nbsp;&nbsp; 5600 | 151444 |
| Noritz Corp. | &nbsp;&nbsp; 8300 | 103904 |
| North Pacific Bank Ltd. | &nbsp;&nbsp; 65400 | 221762 |
| NS Solutions Corp. | &nbsp;&nbsp; 19800 | 454064 |
| NS United Kaiun Kaisha Ltd. | &nbsp;&nbsp; 3600 | 116360 |
| NSD Co. Ltd. | &nbsp;&nbsp; 14800 | 304665 |
| NSK Ltd. | &nbsp;&nbsp; 99500 | 521669 |
| NTN Corp. | &nbsp;&nbsp; 135000 | 273097 |
| NTT Data Group Corp. | &nbsp;&nbsp; 180600 | 2812740 |
| NTT UD REIT Investment Corp. | &nbsp;&nbsp; 462 | 357898 |
| Nxera Pharma Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 23300 | 260714 |
| Obara Group Inc. | &nbsp;&nbsp; 1900 | 50550 |
| Obayashi Corp. | &nbsp;&nbsp; 184800 | 2426299 |
| OBIC Business Consultants Co. Ltd. | &nbsp;&nbsp; 8600 | 363976 |
| Obic Co. Ltd. | &nbsp;&nbsp; 18900 | 2881930 |
| Odakyu Electric Railway Co. Ltd. | &nbsp;&nbsp; 89400 | 904475 |
| Ogaki Kyoritsu Bank Ltd. (The) | &nbsp;&nbsp; 10800 | 167083 |
| Ohsho Food Service Corp. | &nbsp;&nbsp; 2900 | 177384 |
| Oiles Corp. | &nbsp;&nbsp; 3800 | 59492 |
| Oji Holdings Corp. | &nbsp;&nbsp; 239200 | 1018743 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Okamoto Industries Inc. | &nbsp;&nbsp; 1600 | $54952 |
| Okamura Corp. | &nbsp;&nbsp; 14200 | 208915 |
| Okasan Securities Group Inc. | &nbsp;&nbsp; 41800 | 202386 |
| Oki Electric Industry Co. Ltd. | &nbsp;&nbsp; 20100 | 136408 |
| Okinawa Cellular Telephone Co. | &nbsp;&nbsp; 7000 | 188227 |
| Okinawa Electric Power Co. Inc. (The) | &nbsp;&nbsp; 12000 | 88606 |
| Okinawa Financial Group Inc. | &nbsp;&nbsp; 3100 | 59665 |
| OKUMA Corp. | &nbsp;&nbsp; 6600 | 329670 |
| Okumura Corp. | &nbsp;&nbsp; 9000 | 307300 |
| Olympus Corp. | &nbsp;&nbsp; 330500 | 5705779 |
| Omron Corp. | &nbsp;&nbsp; 51000 | 1891786 |
| One REIT Inc. | &nbsp;&nbsp; 78 | 134586 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 107500 | 1585875 |
| Onward Holdings Co. Ltd. | &nbsp;&nbsp; 29300 | 108759 |
| Open House Group Co. Ltd. | &nbsp;&nbsp; 22800 | 807548 |
| Open Up Group Inc. | &nbsp;&nbsp; 18300 | 264674 |
| Optex Group Co. Ltd. | &nbsp;&nbsp; 9900 | 112866 |
| Optorun Co. Ltd. | &nbsp;&nbsp; 6100 | 79663 |
| Oracle Corp./Japan | &nbsp;&nbsp; 10800 | 881595 |
| Organo Corp. | &nbsp;&nbsp; 6500 | 294808 |
| Orient Corp. | &nbsp;&nbsp; 11950 | 83796 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 308400 | 8829339 |
| ORIX Corp. | &nbsp;&nbsp; 326700 | 7902755 |
| Orix JREIT Inc. | &nbsp;&nbsp; 712 | 741271 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 103600 | 2344897 |
| Osaka Organic Chemical Industry Ltd. | &nbsp;&nbsp; 5000 | 115703 |
| Osaka Soda Co. Ltd. | &nbsp;&nbsp; 4100 | 269001 |
| Osaka Steel Co. Ltd. | &nbsp;&nbsp; 5400 | 91641 |
| OSAKA Titanium Technologies Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 8800 | 144150 |
| OSG Corp. | &nbsp;&nbsp; 24100 | 332496 |
| Otsuka Corp. | &nbsp;&nbsp; 63600 | 1409871 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 118300 | 6029550 |
| Pacific Industrial Co. Ltd. | &nbsp;&nbsp; 12200 | 126745 |
| PAL GROUP Holdings Co. Ltd. | &nbsp;&nbsp; 12200 | 167443 |
| PALTAC Corp. | &nbsp;&nbsp; 9100 | 279155 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 108200 | 2822852 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 660100 | 5406997 |
| Paramount Bed Holdings Co. Ltd. | &nbsp;&nbsp; 9100 | 153225 |
| Park24 Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 37300 | 399057 |
| Pasona Group Inc. | &nbsp;&nbsp; 7200 | 113418 |
| Penta-Ocean Construction Co. Ltd. | &nbsp;&nbsp; 74200 | 329408 |
| PeptiDream Inc.<sup>(a)</sup> | &nbsp;&nbsp; 26900 | 495710 |
| Persol Holdings Co. Ltd. | &nbsp;&nbsp; 519900 | 891683 |
| PHC Holdings Corp.<sup>(b)</sup> | &nbsp;&nbsp; 3900 | 29258 |
| Pigeon Corp. | &nbsp;&nbsp; 31800 | 323564 |
| PILLAR Corp./Japan | &nbsp;&nbsp; 4200 | 142413 |
| Pilot Corp. | &nbsp;&nbsp; 6900 | 207261 |
| Piolax Inc. | &nbsp;&nbsp; 8300 | 135983 |
| PKSHA Technology Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 5600 | 122552 |
| Plus Alpha Consulting Co. Ltd. | &nbsp;&nbsp; 8700 | 111499 |
| Pola Orbis Holdings Inc. | &nbsp;&nbsp; 28800 | 271610 |
| Pressance Corp. | &nbsp;&nbsp; 9800 | 132505 |
| Prestige International Inc. | &nbsp;&nbsp; 29200 | 138632 |
| Prima Meat Packers Ltd. | &nbsp;&nbsp; 3900 | 65201 |
| Raito Kogyo Co. Ltd. | &nbsp;&nbsp; 12100 | 175558 |
| Raiznext Corp. | &nbsp;&nbsp; 8600 | 105668 |
| Rakus Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 26000 | 364271 |
| Rakuten Bank Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 27400 | 610604 |
| Rakuten Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 434100 | 2546723 |
| Raysum Co. Ltd. | &nbsp;&nbsp; 3500 | 79029 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 422100 | 24204603 |
| Relo Group Inc. | &nbsp;&nbsp; 31100 | 371663 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Renesas Electronics Corp. | &nbsp;&nbsp; 423300 | $7290865 |
| Rengo Co. Ltd. | &nbsp;&nbsp; 56500 | 394063 |
| RENOVA Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 11500 | 70489 |
| Resona Holdings Inc. | &nbsp;&nbsp; 596500 | 4277463 |
| Resonac Holdings Corp. | &nbsp;&nbsp; 49300 | 1223907 |
| Resorttrust Inc. | &nbsp;&nbsp; 23500 | 396675 |
| Restar Corp. | &nbsp;&nbsp; 3500 | 69004 |
| Retail Partners Co. Ltd. | &nbsp;&nbsp; 4300 | 48214 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 157200 | 1463423 |
| Ricoh Leasing Co. Ltd. | &nbsp;&nbsp; 4700 | 171093 |
| Riken Keiki Co. Ltd. | &nbsp;&nbsp; 8600 | 252492 |
| Riken Vitamin Co. Ltd. | &nbsp;&nbsp; 3700 | 69735 |
| Ringer Hut Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 7000 | 105910 |
| Rinnai Corp. | &nbsp;&nbsp; 26500 | 651583 |
| Riso Kagaku Corp. | &nbsp;&nbsp; 6500 | 145999 |
| Rohm Co. Ltd. | &nbsp;&nbsp; 96100 | 1310250 |
| Rohto Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 53500 | 1256657 |
| Roland Corp. | &nbsp;&nbsp; 2600 | 67385 |
| Rorze Corp. | &nbsp;&nbsp; 3100 | 504174 |
| Round One Corp. | &nbsp;&nbsp; 58100 | 345929 |
| Royal Holdings Co. Ltd. | &nbsp;&nbsp; 11200 | 189404 |
| RS Technologies Co. Ltd. | &nbsp;&nbsp; 3500 | 75530 |
| Ryobi Ltd. | &nbsp;&nbsp; 5800 | 79533 |
| Ryohin Keikaku Co. Ltd. | &nbsp;&nbsp; 71600 | 1350216 |
| Ryoyo Ryosan Holdings Inc. | &nbsp;&nbsp; 7596 | 145565 |
| S Foods Inc. | &nbsp;&nbsp; 5800 | 115093 |
| Saibu Gas Holdings Co. Ltd. | &nbsp;&nbsp; 7400 | 94757 |
| Saizeriya Co. Ltd. | &nbsp;&nbsp; 9600 | 369920 |
| Sakai Moving Service Co. Ltd. | &nbsp;&nbsp; 6800 | 120530 |
| Sakata INX Corp. | &nbsp;&nbsp; 14000 | 164502 |
| Sakata Seed Corp. | &nbsp;&nbsp; 9700 | 223659 |
| Sakura Internet Inc. | &nbsp;&nbsp; 5500 | 111572 |
| SAMTY HOLDINGS Co. Ltd. /Japan | &nbsp;&nbsp; 9400 | 171772 |
| Samty Residential Investment Corp. | &nbsp;&nbsp; 52 | 35515 |
| San-A Co. Ltd. | &nbsp;&nbsp; 5000 | 170616 |
| San-Ai Obbli Co. Ltd. | &nbsp;&nbsp; 11900 | 163130 |
| Sangetsu Corp. | &nbsp;&nbsp; 11600 | 230788 |
| San-In Godo Bank Ltd. (The) | &nbsp;&nbsp; 42000 | 399392 |
| Sanken Electric Co. Ltd. | &nbsp;&nbsp; 5700 | 278154 |
| Sanki Engineering Co. Ltd. | &nbsp;&nbsp; 12000 | 187625 |
| Sankyo Co. Ltd. | &nbsp;&nbsp; 50600 | 561861 |
| Sankyu Inc. | &nbsp;&nbsp; 12800 | 437220 |
| Sanrio Co. Ltd. | &nbsp;&nbsp; 41300 | 876853 |
| Sansan Inc.<sup>(a)</sup> | &nbsp;&nbsp; 23900 | 359916 |
| Santen Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 95000 | 1140112 |
| Sanwa Holdings Corp. | &nbsp;&nbsp; 52700 | 1128846 |
| Sanyo Chemical Industries Ltd. | &nbsp;&nbsp; 3700 | 101415 |
| Sanyo Denki Co. Ltd. | &nbsp;&nbsp; 1800 | 87203 |
| Sanyo Special Steel Co. Ltd. | &nbsp;&nbsp; 3600 | 51020 |
| Sapporo Holdings Ltd. | &nbsp;&nbsp; 18400 | 790557 |
| Sato Holdings Corp. | &nbsp;&nbsp; 8800 | 126806 |
| Sawai Group Holdings Co. Ltd. | &nbsp;&nbsp; 11100 | 487285 |
| SBI Holdings Inc. | &nbsp;&nbsp; 77200 | 2006709 |
| SBI Sumishin Net Bank Ltd., NVS | &nbsp;&nbsp; 13800 | 263712 |
| SBS Holdings Inc. | &nbsp;&nbsp; 5400 | 99267 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 23500 | 1991383 |
| SCSK Corp. | &nbsp;&nbsp; 43400 | 854455 |
| Secom Co. Ltd. | &nbsp;&nbsp; 58900 | 3760927 |
| Sega Sammy Holdings Inc. | &nbsp;&nbsp; 42500 | 688240 |
| Seibu Holdings Inc. | &nbsp;&nbsp; 63900 | 1199524 |
| Seiko Epson Corp. | &nbsp;&nbsp; 81400 | 1409068 |
| Seiko Group Corp. | &nbsp;&nbsp; 6500 | 194281 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Seino Holdings Co. Ltd. | &nbsp;&nbsp; 29200 | $457003 |
| Seiren Co. Ltd. | &nbsp;&nbsp; 13700 | 215590 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 110600 | 1668732 |
| Sekisui House Ltd. | &nbsp;&nbsp; 169700 | 4252058 |
| Sekisui House REIT Inc. | &nbsp;&nbsp; 1190 | 628813 |
| Sekisui Jushi Corp. | &nbsp;&nbsp; 7900 | 133105 |
| Senko Group Holdings Co. Ltd. | &nbsp;&nbsp; 28200 | 215505 |
| Senshu Electric Co. Ltd. | &nbsp;&nbsp; 3200 | 108321 |
| Senshu Ikeda Holdings Inc. | &nbsp;&nbsp; 64400 | 165243 |
| Septeni Holdings Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 28300 | 71674 |
| Seria Co. Ltd. | &nbsp;&nbsp; 15200 | 355485 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 633900 | 7590796 |
| Seven Bank Ltd. | &nbsp;&nbsp; 168200 | 315551 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 94100 | 956870 |
| Sharp Corp./Japan<sup>(a)</sup> | &nbsp;&nbsp; 73800 | 429794 |
| Shibaura Machine Co. Ltd. | &nbsp;&nbsp; 6500 | 159747 |
| Shibaura Mechatronics Corp. | &nbsp;&nbsp; 2700 | 142261 |
| Shibuya Corp. | &nbsp;&nbsp; 5800 | 141285 |
| SHIFT Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 3300 | 253497 |
| Shiga Bank Ltd. (The) | &nbsp;&nbsp; 9100 | 244404 |
| Shikoku Electric Power Co. Inc. | &nbsp;&nbsp; 49800 | 434327 |
| Shikoku Kasei Holdings Corp. | &nbsp;&nbsp; 5100 | 77966 |
| Shimadzu Corp. | &nbsp;&nbsp; 67300 | 1984965 |
| Shimamura Co. Ltd. | &nbsp;&nbsp; 12600 | 617538 |
| Shimano Inc. | &nbsp;&nbsp; 22000 | 3902888 |
| Shimizu Corp. | &nbsp;&nbsp; 149300 | 938342 |
| Shin Nippon Air Technologies Co. Ltd. | &nbsp;&nbsp; 3100 | 92653 |
| Shin Nippon Biomedical Laboratories Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5600 | 46812 |
| Shinagawa Refractories Co. Ltd. | &nbsp;&nbsp; 7600 | 92967 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 512700 | 22779606 |
| Shin-Etsu Polymer Co. Ltd. | &nbsp;&nbsp; 12900 | 138468 |
| Shinko Electric Industries Co. Ltd. | &nbsp;&nbsp; 20000 | 760690 |
| Shinmaywa Industries Ltd. | &nbsp;&nbsp; 13600 | 133784 |
| Shinnihon Corp. | &nbsp;&nbsp; 7200 | 80188 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 71700 | 3154016 |
| Ship Healthcare Holdings Inc. | &nbsp;&nbsp; 22700 | 346507 |
| Shiseido Co. Ltd. | &nbsp;&nbsp; 113400 | 3543913 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 125000 | 1248536 |
| Shizuoka Gas Co. Ltd. | &nbsp;&nbsp; 4800 | 30516 |
| SHO-BOND Holdings Co. Ltd. | &nbsp;&nbsp; 11400 | 439043 |
| Shochiku Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2200 | 140948 |
| Shoei Co. Ltd. | &nbsp;&nbsp; 10600 | 140487 |
| Shoei Foods Corp. | &nbsp;&nbsp; 1700 | 57601 |
| Showa Sangyo Co. Ltd. | &nbsp;&nbsp; 6200 | 135334 |
| Siix Corp. | &nbsp;&nbsp; 4900 | 40829 |
| Simplex Holdings Inc. | &nbsp;&nbsp; 10000 | 144172 |
| Sinfonia Technology Co. Ltd. | &nbsp;&nbsp; 5400 | 114799 |
| Sinko Industries Ltd. | &nbsp;&nbsp; 4900 | 132395 |
| SKY Perfect JSAT Holdings Inc. | &nbsp;&nbsp; 41500 | 244172 |
| Skylark Holdings Co. Ltd. | &nbsp;&nbsp; 64000 | 877006 |
| SMC Corp. | &nbsp;&nbsp; 16800 | 8174295 |
| SMS Co. Ltd. | &nbsp;&nbsp; 22000 | 320665 |
| Socionext Inc. | &nbsp;&nbsp; 51200 | 1033914 |
| SoftBank Corp. | &nbsp;&nbsp; 807500 | 10533636 |
| SoftBank Group Corp. | &nbsp;&nbsp; 292800 | 17893715 |
| Sohgo Security Services Co. Ltd. | &nbsp;&nbsp; 108400 | 693360 |
| Sojitz Corp. | &nbsp;&nbsp; 63620 | 1504808 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 254400 | 5800807 |
| Sony Group Corp. | &nbsp;&nbsp; 354500 | 31486192 |
| SOSiLA Logistics REIT Inc. | &nbsp;&nbsp; 217 | 167869 |
| Sotetsu Holdings Inc. | &nbsp;&nbsp; 22400 | 367411 |
| Sparx Group Co. Ltd. | &nbsp;&nbsp; 4200 | 45956 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Square Enix Holdings Co. Ltd. | &nbsp;&nbsp; 22600 | $763245 |
| SRE Holdings Corp.<sup>(a)</sup> | &nbsp;&nbsp; 2100 | 67658 |
| Stanley Electric Co. Ltd. | &nbsp;&nbsp; 34000 | 667553 |
| Star Asia Investment Corp. | &nbsp;&nbsp; 587 | 221605 |
| Star Micronics Co. Ltd. | &nbsp;&nbsp; 11500 | 161385 |
| Starts Corp. Inc. | &nbsp;&nbsp; 7200 | 166079 |
| Starts Proceed Investment Corp. | &nbsp;&nbsp; 73 | 94780 |
| Strike Co. Ltd. | &nbsp;&nbsp; 3500 | 94529 |
| Subaru Corp. | &nbsp;&nbsp; 170200 | 3272350 |
| Sugi Holdings Co. Ltd. | &nbsp;&nbsp; 28400 | 490723 |
| SUMCO Corp. | &nbsp;&nbsp; 101800 | 1673632 |
| Sumitomo Bakelite Co. Ltd. | &nbsp;&nbsp; 18800 | 529256 |
| Sumitomo Chemical Co. Ltd. | &nbsp;&nbsp; 431000 | 1104848 |
| Sumitomo Corp. | &nbsp;&nbsp; 295000 | 7330025 |
| Sumitomo Densetsu Co. Ltd. | &nbsp;&nbsp; 2900 | 79694 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 205000 | 3101048 |
| Sumitomo Forestry Co. Ltd. | &nbsp;&nbsp; 43100 | 1837911 |
| Sumitomo Heavy Industries Ltd. | &nbsp;&nbsp; 31800 | 853998 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 69600 | 2122387 |
| Sumitomo Mitsui Construction Co. Ltd. | &nbsp;&nbsp; 37200 | 98441 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 355800 | 25693357 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 187900 | 4749517 |
| Sumitomo Osaka Cement Co. Ltd. | &nbsp;&nbsp; 7500 | 211180 |
| Sumitomo Pharma Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 56900 | 157749 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 81100 | 2680576 |
| Sumitomo Riko Co. Ltd. | &nbsp;&nbsp; 12000 | 121118 |
| Sumitomo Rubber Industries Ltd. | &nbsp;&nbsp; 51500 | 536606 |
| Sumitomo Warehouse Co. Ltd. (The) | &nbsp;&nbsp; 11100 | 208736 |
| Sun Frontier Fudousan Co. Ltd. | &nbsp;&nbsp; 6000 | 81637 |
| Sundrug Co. Ltd. | &nbsp;&nbsp; 22100 | 613725 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 38600 | 1386363 |
| SUNWELS Co. Ltd. | &nbsp;&nbsp; 3000 | 50878 |
| Suruga Bank Ltd. | &nbsp;&nbsp; 39900 | 316635 |
| Suzuken Co. Ltd. | &nbsp;&nbsp; 18600 | 677855 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 450000 | 5171482 |
| SWCC Corp. | &nbsp;&nbsp; 7400 | 219593 |
| Sysmex Corp. | &nbsp;&nbsp; 142500 | 2332905 |
| Systena Corp. | &nbsp;&nbsp; 75900 | 170835 |
| T Hasegawa Co. Ltd. | &nbsp;&nbsp; 8700 | 186802 |
| T&D Holdings Inc. | &nbsp;&nbsp; 138000 | 2586912 |
| Tadano Ltd. | &nbsp;&nbsp; 29900 | 222325 |
| Taihei Dengyo Kaisha Ltd. | &nbsp;&nbsp; 3600 | 127045 |
| Taiheiyo Cement Corp. | &nbsp;&nbsp; 30100 | 822123 |
| Taikisha Ltd. | &nbsp;&nbsp; 6700 | 230957 |
| Taisei Corp. | &nbsp;&nbsp; 47100 | 2000401 |
| Taiyo Holdings Co. Ltd. | &nbsp;&nbsp; 9700 | 231820 |
| Taiyo Yuden Co. Ltd. | &nbsp;&nbsp; 35800 | 1075794 |
| Takamatsu Construction Group Co. Ltd. | &nbsp;&nbsp; 2900 | 60546 |
| Takara Bio Inc. | &nbsp;&nbsp; 10500 | 80595 |
| Takara Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 35900 | 272368 |
| Takara Leben Real Estate Investment Corp. | &nbsp;&nbsp; 207 | 137981 |
| Takara Standard Co. Ltd. | &nbsp;&nbsp; 10100 | 116546 |
| Takasago International Corp. | &nbsp;&nbsp; 2300 | 59531 |
| Takasago Thermal Engineering Co. Ltd. | &nbsp;&nbsp; 11000 | 433212 |
| Takashimaya Co. Ltd. | &nbsp;&nbsp; 39100 | 724055 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 450600 | 12650264 |
| Takeuchi Manufacturing Co. Ltd. | &nbsp;&nbsp; 9500 | 303881 |
| Takuma Co. Ltd. | &nbsp;&nbsp; 21300 | 247293 |
| Tama Home Co. Ltd. | &nbsp;&nbsp; 5200 | 155560 |
| Tamron Co. Ltd. | &nbsp;&nbsp; 9000 | 254558 |
| TBS Holdings Inc. | &nbsp;&nbsp; 9500 | 268301 |
| TDK Corp. | &nbsp;&nbsp; 110600 | 7715710 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| TechMatrix Corp. | &nbsp;&nbsp; 12600 | $176129 |
| TechnoPro Holdings Inc. | &nbsp;&nbsp; 31400 | 603790 |
| Teijin Ltd. | &nbsp;&nbsp; 53100 | 510983 |
| Terumo Corp. | &nbsp;&nbsp; 379600 | 6805602 |
| T-Gaia Corp. | &nbsp;&nbsp; 3100 | 80285 |
| THK Co. Ltd. | &nbsp;&nbsp; 31600 | 596606 |
| TIS Inc. | &nbsp;&nbsp; 59800 | 1281002 |
| TKC Corp. | &nbsp;&nbsp; 7400 | 175266 |
| TKP Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 3500 | 42137 |
| Toa Corp./Tokyo | &nbsp;&nbsp; 19400 | 130791 |
| Toagosei Co. Ltd. | &nbsp;&nbsp; 23800 | 254966 |
| Tobu Railway Co. Ltd. | &nbsp;&nbsp; 53600 | 941535 |
| Tocalo Co. Ltd. | &nbsp;&nbsp; 13500 | 176419 |
| Toda Corp. | &nbsp;&nbsp; 63600 | 459652 |
| Toei Animation Co. Ltd. | &nbsp;&nbsp; 18600 | 288454 |
| Toei Co. Ltd. | &nbsp;&nbsp; 8000 | 206108 |
| Toenec Corp. | &nbsp;&nbsp; 1800 | 59816 |
| Toho Bank Ltd. (The) | &nbsp;&nbsp; 57900 | 121507 |
| Toho Co. Ltd./Tokyo | &nbsp;&nbsp; 32000 | 1149191 |
| Toho Gas Co. Ltd. | &nbsp;&nbsp; 22500 | 694942 |
| Toho Holdings Co. Ltd. | &nbsp;&nbsp; 13100 | 380928 |
| Toho Titanium Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 6900 | 63089 |
| Tohoku Electric Power Co. Inc. | &nbsp;&nbsp; 133200 | 1132555 |
| Tokai Carbon Co. Ltd. | &nbsp;&nbsp; 60000 | 384510 |
| Tokai Corp./Gifu | &nbsp;&nbsp; 3000 | 44770 |
| TOKAI Holdings Corp. | &nbsp;&nbsp; 30600 | 205575 |
| Tokai Rika Co. Ltd. | &nbsp;&nbsp; 13400 | 181844 |
| Tokai Tokyo Financial Holdings Inc. | &nbsp;&nbsp; 55800 | 218070 |
| Token Corp. | &nbsp;&nbsp; 1000 | 79010 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 535200 | 20997558 |
| Tokuyama Corp. | &nbsp;&nbsp; 19700 | 386188 |
| Tokyo Century Corp. | &nbsp;&nbsp; 42000 | 447391 |
| Tokyo Electric Power Co. Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 437800 | 2192835 |
| Tokyo Electron Device Ltd. | &nbsp;&nbsp; 6300 | 163730 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 134200 | 28080994 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 102600 | 2247928 |
| Tokyo Kiraboshi Financial Group Inc. | &nbsp;&nbsp; 6300 | 189873 |
| Tokyo Ohka Kogyo Co. Ltd. | &nbsp;&nbsp; 28300 | 728437 |
| Tokyo Seimitsu Co. Ltd. | &nbsp;&nbsp; 11600 | 799604 |
| Tokyo Steel Manufacturing Co. Ltd. | &nbsp;&nbsp; 12300 | 156482 |
| Tokyo Tatemono Co. Ltd. | &nbsp;&nbsp; 52400 | 914097 |
| Tokyotokeiba Co. Ltd. | &nbsp;&nbsp; 4200 | 117723 |
| Tokyu Construction Co. Ltd. | &nbsp;&nbsp; 14700 | 77298 |
| Tokyu Corp. | &nbsp;&nbsp; 141500 | 1714326 |
| Tokyu Fudosan Holdings Corp. | &nbsp;&nbsp; 163500 | 1180516 |
| Tokyu REIT Inc. | &nbsp;&nbsp; 275 | 278066 |
| TOMONY Holdings Inc. | &nbsp;&nbsp; 35800 | 102331 |
| Tomy Co. Ltd. | &nbsp;&nbsp; 23500 | 533225 |
| Topcon Corp. | &nbsp;&nbsp; 30400 | 314430 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 64900 | 1835771 |
| Topre Corp. | &nbsp;&nbsp; 10400 | 142706 |
| Toray Industries Inc. | &nbsp;&nbsp; 394000 | 2048427 |
| Toridoll Holdings Corp.<sup>(b)</sup> | &nbsp;&nbsp; 12900 | 337370 |
| Torii Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 4900 | 122187 |
| Tosei Corp. | &nbsp;&nbsp; 6100 | 101806 |
| Toshiba TEC Corp. | &nbsp;&nbsp; 9300 | 208461 |
| Tosoh Corp. | &nbsp;&nbsp; 74098 | 1007979 |
| Totech Corp. | &nbsp;&nbsp; 6400 | 109058 |
| Totetsu Kogyo Co. Ltd. | &nbsp;&nbsp; 7800 | 169023 |
| TOTO Ltd. | &nbsp;&nbsp; 40500 | 1115175 |
| Towa Corp.<sup>(b)</sup> | &nbsp;&nbsp; 5500 | 316807 |
| Towa Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 5900 | 120714 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Toyo Construction Co. Ltd. | &nbsp;&nbsp; 12200 | $124432 |
| Toyo Gosei Co. Ltd. | &nbsp;&nbsp; 800 | 49703 |
| Toyo Seikan Group Holdings Ltd. | &nbsp;&nbsp; 36600 | 628433 |
| Toyo Suisan Kaisha Ltd. | &nbsp;&nbsp; 25700 | 1725651 |
| Toyo Tanso Co. Ltd. | &nbsp;&nbsp; 4200 | 170641 |
| Toyo Tire Corp. | &nbsp;&nbsp; 32100 | 523739 |
| Toyobo Co. Ltd. | &nbsp;&nbsp; 27100 | 186064 |
| Toyoda Gosei Co. Ltd. | &nbsp;&nbsp; 20500 | 374303 |
| Toyota Boshoku Corp. | &nbsp;&nbsp; 25600 | 344977 |
| Toyota Industries Corp. | &nbsp;&nbsp; 41900 | 3522537 |
| Toyota Motor Corp. | &nbsp;&nbsp; 3014500 | 57910824 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 180800 | 3614738 |
| Trancom Co. Ltd. | &nbsp;&nbsp; 2200 | 97732 |
| Transcosmos Inc. | &nbsp;&nbsp; 6700 | 154261 |
| TRE Holdings Corp. | &nbsp;&nbsp; 9700 | 84680 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 37500 | 1797468 |
| Tri Chemical Laboratories Inc. | &nbsp;&nbsp; 8500 | 209736 |
| Trusco Nakayama Corp. | &nbsp;&nbsp; 12800 | 207204 |
| TS Tech Co. Ltd. | &nbsp;&nbsp; 21300 | 282457 |
| Tsubakimoto Chain Co. | &nbsp;&nbsp; 7000 | 302717 |
| Tsuburaya Fields Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 8400 | 88383 |
| Tsugami Corp. | &nbsp;&nbsp; 9700 | 106589 |
| Tsumura & Co. | &nbsp;&nbsp; 16900 | 448075 |
| Tsuruha Holdings Inc. | &nbsp;&nbsp; 10200 | 631930 |
| Tsurumi Manufacturing Co. Ltd. | &nbsp;&nbsp; 4100 | 108555 |
| TV Asahi Holdings Corp. | &nbsp;&nbsp; 3300 | 45991 |
| UACJ Corp. | &nbsp;&nbsp; 10200 | 290418 |
| UBE Corp. | &nbsp;&nbsp; 24600 | 439541 |
| Ulvac Inc. | &nbsp;&nbsp; 11900 | 729195 |
| U-Next Holdings Co. Ltd. | &nbsp;&nbsp; 5500 | 189413 |
| Unicharm Corp. | &nbsp;&nbsp; 114400 | 3832468 |
| Union Tool Co. | &nbsp;&nbsp; 1600 | 61913 |
| United Super Markets Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 12200 | 73132 |
| United Urban Investment Corp. | &nbsp;&nbsp; 780 | 746616 |
| Universal Entertainment Corp.<sup>(b)</sup> | &nbsp;&nbsp; 5300 | 54063 |
| Ushio Inc. | &nbsp;&nbsp; 20200 | 289659 |
| USS Co. Ltd. | &nbsp;&nbsp; 113200 | 1021008 |
| UT Group Co. Ltd. | &nbsp;&nbsp; 6300 | 136467 |
| Valor Holdings Co. Ltd. | &nbsp;&nbsp; 11000 | 187092 |
| Vector Inc. | &nbsp;&nbsp; 5400 | 35576 |
| Visional Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7300 | 385423 |
| VT Holdings Co. Ltd. | &nbsp;&nbsp; 29400 | 102209 |
| Wacoal Holdings Corp. | &nbsp;&nbsp; 10700 | 311820 |
| Wacom Co. Ltd. | &nbsp;&nbsp; 35700 | 172161 |
| Wakita & Co. Ltd. | &nbsp;&nbsp; 12100 | 135140 |
| WealthNavi Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 12700 | 115947 |
| Welcia Holdings Co. Ltd. | &nbsp;&nbsp; 26800 | 359766 |
| West Holdings Corp. | &nbsp;&nbsp; 5000 | 77052 |
| West Japan Railway Co. | &nbsp;&nbsp; 127000 | 2500253 |
| WingArc1st Inc. | &nbsp;&nbsp; 5100 | 95029 |
| Workman Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5100 | 145783 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 72200 | 1480491 |
| Yamabiko Corp. | &nbsp;&nbsp; 11200 | 158680 |
| Yamada Holdings Co. Ltd. | &nbsp;&nbsp; 167300 | 507595 |
| Yamaguchi Financial Group Inc. | &nbsp;&nbsp; 53000 | 658839 |
| Yamaha Corp. | &nbsp;&nbsp; 36800 | 874703 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 258700 | 2409008 |
| YA-MAN Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 4500 | 25173 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 74500 | 904809 |
| Yamato Kogyo Co. Ltd. | &nbsp;&nbsp; 10700 | 565459 |
| Yamazaki Baking Co. Ltd. | &nbsp;&nbsp; 34900 | 862922 |
| Yamazen Corp. | &nbsp;&nbsp; 19000 | 196536 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Yaoko Co. Ltd. | &nbsp;&nbsp; 5200 | $318035 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 67600 | 2352738 |
| Yellow Hat Ltd. | &nbsp;&nbsp; 10200 | 178563 |
| Yodogawa Steel Works Ltd. | &nbsp;&nbsp; 6100 | 229379 |
| Yokogawa Bridge Holdings Corp. | &nbsp;&nbsp; 7500 | 135725 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 63900 | 1617452 |
| Yokohama Rubber Co. Ltd. (The) | &nbsp;&nbsp; 34800 | 790981 |
| Yokorei Co. Ltd. | &nbsp;&nbsp; 18200 | 131613 |
| Yonex Co. Ltd. | &nbsp;&nbsp; 20900 | 305265 |
| Yoshinoya Holdings Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 20300 | 390627 |
| Yuasa Trading Co. Ltd. | &nbsp;&nbsp; 5300 | 197732 |
| Yurtec Corp. | &nbsp;&nbsp; 9900 | 99633 |
| Zenkoku Hosho Co. Ltd. | &nbsp;&nbsp; 14600 | 603921 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 28400 | 1155988 |
| Zeon Corp. | &nbsp;&nbsp; 45700 | 403626 |
| ZERIA Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 8100 | 118311 |
| ZIGExN Co. Ltd. | &nbsp;&nbsp; 19200 | 74261 |
| Zojirushi Corp. | &nbsp;&nbsp; 14000 | 140200 |
| ZOZO Inc. | &nbsp;&nbsp; 39100 | 1144650 |
| Zuken Inc. | &nbsp;&nbsp; 4800 | 117627 |
|  |  | 1402146559 |
| **New Zealand — 0.7%** | **New Zealand — 0.7%** | **New Zealand — 0.7%** |
| Air New Zealand Ltd. | &nbsp;&nbsp; 489304 | 168901 |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 379751 | 1690546 |
| Contact Energy Ltd. | &nbsp;&nbsp; 222488 | 1125517 |
| EBOS Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 45838 | 982097 |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 164238 | 3170587 |
| Fletcher Building Ltd. | &nbsp;&nbsp; 213736 | 396879 |
| Goodman Property Trust | &nbsp;&nbsp; 311660 | 383025 |
| Infratil Ltd. | &nbsp;&nbsp; 263354 | 1691857 |
| Kiwi Property Group Ltd. | &nbsp;&nbsp; 453949 | 243800 |
| Mercury NZ Ltd. | &nbsp;&nbsp; 202553 | 829380 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 369137 | 1427997 |
| Ryman Healthcare Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 167839 | 453683 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 519212 | 1334366 |
|  |  | 13898635 |
| **Singapore — 4.1%** | **Singapore — 4.1%** | **Singapore — 4.1%** |
| AEM Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 70276 | 88662 |
| AIMS APAC REIT<sup>(b)</sup> | &nbsp;&nbsp; 159465 | 156398 |
| Best World International Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 37300 | 70040 |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 1078915 | 2202668 |
| CapitaLand Ascott Trust<sup>(b)</sup> | &nbsp;&nbsp; 761166 | 513924 |
| CapitaLand China Trust<sup>(b)</sup> | &nbsp;&nbsp; 371735 | 192013 |
| Capitaland India Trust | &nbsp;&nbsp; 273980 | 223779 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 1484496 | 2318837 |
| CapitaLand Investment Ltd./Singapore<sup>(b)</sup> | &nbsp;&nbsp; 722800 | 1465501 |
| CDL Hospitality Trusts<sup>(b)</sup> | &nbsp;&nbsp; 288655 | 208847 |
| City Developments Ltd. | &nbsp;&nbsp; 142200 | 566902 |
| ComfortDelGro Corp. Ltd. | &nbsp;&nbsp; 603300 | 632932 |
| Cromwell European Real Estate Investment Trust | &nbsp;&nbsp; 106200 | 160909 |
| DBS Group Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 566340 | 15519648 |
| Digital Core REIT Management Pte Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 244900 | 139710 |
| ESR-LOGOS REIT | &nbsp;&nbsp; 1880756 | 386929 |
| Far East Hospitality Trust | &nbsp;&nbsp; 294800 | 137913 |
| First Resources Ltd. | &nbsp;&nbsp; 174600 | 193676 |
| Frasers Centrepoint Trust | &nbsp;&nbsp; 363468 | 602165 |
| Frasers Hospitality Trust | &nbsp;&nbsp; 327000 | 102746 |
| Frasers Logistics & Commercial Trust<sup>(b)</sup> | &nbsp;&nbsp; 819683 | 609294 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 1696300 | 1077919 |
| Golden Agri-Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1921600 | 395332 |
| Grab Holdings Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 600958 | 1983161 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Singapore (continued)** | **Singapore (continued)** | **Singapore (continued)** |
| Hong Fok Corp. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 119700 | $72535 |
| Hutchison Port Holdings Trust, Class U | &nbsp;&nbsp; 1268000 | 154696 |
| iFAST Corp. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 41000 | 230071 |
| Keppel DC REIT<sup>(b)</sup> | &nbsp;&nbsp; 380000 | 576954 |
| Keppel Infrastructure Trust<sup>(b)</sup> | &nbsp;&nbsp; 1092549 | 393233 |
| Keppel Ltd. | &nbsp;&nbsp; 410200 | 2041510 |
| Keppel REIT | &nbsp;&nbsp; 648020 | 424773 |
| Lendlease Global Commercial REIT | &nbsp;&nbsp; 418911 | 186950 |
| Mapletree Industrial Trust | &nbsp;&nbsp; 590420 | 1024444 |
| Mapletree Logistics Trust<sup>(b)</sup> | &nbsp;&nbsp; 999887 | 969405 |
| Mapletree Pan Asia Commercial Trust | &nbsp;&nbsp; 683595 | 657482 |
| NetLink NBN Trust | &nbsp;&nbsp; 802400 | 510242 |
| Olam Group Ltd. | &nbsp;&nbsp; 310600 | 269339 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 963475 | 10724098 |
| Paragon REIT | &nbsp;&nbsp; 369446 | 243220 |
| Parkway Life REIT | &nbsp;&nbsp; 101800 | 276947 |
| Raffles Medical Group Ltd. | &nbsp;&nbsp; 251800 | 177072 |
| Riverstone Holdings Ltd./Singapore | &nbsp;&nbsp; 131100 | 93652 |
| Sasseur Real Estate Investment Trust | &nbsp;&nbsp; 174800 | 87790 |
| SATS Ltd. | &nbsp;&nbsp; 252678 | 621164 |
| Sea Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 103427 | 6795152 |
| Seatrium Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 674595 | 849476 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 255700 | 914273 |
| Sheng Siong Group Ltd. | &nbsp;&nbsp; 226800 | 261215 |
| SIA Engineering Co. Ltd. | &nbsp;&nbsp; 106300 | 182200 |
| Singapore Airlines Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 425300 | 2222579 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 237200 | 1748852 |
| Singapore Post Ltd. | &nbsp;&nbsp; 331700 | 109185 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 451900 | 1496140 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 2368500 | 5487026 |
| Starhill Global REIT | &nbsp;&nbsp; 452800 | 167679 |
| StarHub Ltd. | &nbsp;&nbsp; 193200 | 183560 |
| Suntec REIT<sup>(b)</sup> | &nbsp;&nbsp; 577100 | 510684 |
| Super Hi International Holding Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 40000 | 63565 |
| UMS Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 165300 | 138933 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 360000 | 8729525 |
| UOL Group Ltd. | &nbsp;&nbsp; 135400 | 547059 |
| Venture Corp. Ltd. | &nbsp;&nbsp; 76500 | 866008 |
| Wilmar International Ltd. | &nbsp;&nbsp; 528300 | 1259749 |
| Yangzijiang Financial Holding Ltd. | &nbsp;&nbsp; 627600 | 160061 |
| Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp; 744000 | 1500098 |
| Yanlord Land Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 178000 | 59924 |
|  |  | 83938425 |
| **Total Long-Term Investments — 99.6%** <br>**(Cost: $1,824,476,330)** | **Total Long-Term Investments — 99.6%** <br>**(Cost: $1,824,476,330)** | 2025050949 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.1%** | **Money Market Funds — 1.1%** | **Money Market Funds — 1.1%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp; 21465261 | 21473847 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(e)(f)</sup><br>| &nbsp;&nbsp; 150000 | 150000 |
| **Total Short-Term Securities — 1.1%** <br>**(Cost: $21,623,371)** | **Total Short-Term Securities — 1.1%** <br>**(Cost: $21,623,371)** | 21623847 |
| **Total Investments — 100.7%** <br>**(Cost: $1,846,099,701)** | **Total Investments — 100.7%** <br>**(Cost: $1,846,099,701)** | 2046674796 |
| **Liabilities in Excess of Other Assets — (0.7)%** | **Liabilities in Excess of Other Assets — (0.7)%** | (14104437)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2032570359 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> Affiliate of the Fund. <br> <sup>(f)</sup> Annualized 7-day yield as of period end. <br> <sup>(g)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $7866262<br> $13607115 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $880 | $(410)<br>| $21473847 | 21465261 | $236843 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 130000<br> 20000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 150000 | 150000 | 49439 | &nbsp;&nbsp; — |
|  |  |  | $880 | $(410)<br>| $21623847 |  | $286282 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 28 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $5175 | &nbsp;&nbsp; $(43838)<br>|
| SPI 200 Index | &nbsp;&nbsp; 15 | &nbsp;&nbsp; 09/19/24 | &nbsp;&nbsp; 1982 | &nbsp;&nbsp; 63907 |
|  |  |  |  | &nbsp;&nbsp; $20069 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $63907 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $63907 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $43838 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $43838 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Pacific ETF**

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1540138 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1540138 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(254214)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(254214)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $10510001 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $25700567 | &nbsp;&nbsp; $1999251553 | &nbsp;&nbsp; $98829 | &nbsp;&nbsp; $2025050949 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 21623847 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 21623847 |
|  | &nbsp;&nbsp; $47324414 | &nbsp;&nbsp; $1999251553 | &nbsp;&nbsp; $98829 | &nbsp;&nbsp; $2046674796 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $63907 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $63907 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (43838)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (43838)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $20069 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $20069 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 4.9%** | **Australia — 4.9%** | **Australia — 4.9%** |
| Abacus Group | &nbsp;&nbsp; 888849 | $642266 |
| Abacus Storage King<sup>(a)</sup> | &nbsp;&nbsp; 888774 | 743204 |
| AGL Energy Ltd. | &nbsp;&nbsp; 712421 | 4842902 |
| ALS Ltd. | &nbsp;&nbsp; 638826 | 6467621 |
| Amotiv Ltd. | &nbsp;&nbsp; 276516 | 1963740 |
| AMP Ltd. | &nbsp;&nbsp; 3056125 | 2374129 |
| Ampol Ltd. | &nbsp;&nbsp; 310139 | 6793580 |
| Ansell Ltd. | &nbsp;&nbsp; 155301 | 2780492 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 3611661 | 68711992 |
| APA Group | &nbsp;&nbsp; 1401306 | 7263188 |
| ARB Corp. Ltd. | &nbsp;&nbsp; 126203 | 3487171 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 724092 | 25787885 |
| ASX Ltd. | &nbsp;&nbsp; 235127 | 10017863 |
| Atlas Arteria Ltd. | &nbsp;&nbsp; 1401878 | 4814875 |
| AUB Group Ltd. | &nbsp;&nbsp; 114363 | 2416568 |
| Audinate Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 103483 | 1010990 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 2003638 | 4885413 |
| Austal Ltd. | &nbsp;&nbsp; 572127 | 982259 |
| Bank of Queensland Ltd. | &nbsp;&nbsp; 664931 | 2747752 |
| Bapcor Ltd. | &nbsp;&nbsp; 513301 | 1725947 |
| Beach Energy Ltd. | &nbsp;&nbsp; 2325156 | 2259311 |
| Bega Cheese Ltd. | &nbsp;&nbsp; 637240 | 1862392 |
| Bellevue Gold Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1763658 | 1592285 |
| Bendigo & Adelaide Bank Ltd. | &nbsp;&nbsp; 620731 | 5081639 |
| BHP Group Ltd. | &nbsp;&nbsp; 6158011 | 171038413 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 545619 | 7923016 |
| Boss Energy Ltd. <sup>(b)</sup> | &nbsp;&nbsp; 719658 | 1727878 |
| Brambles Ltd. | &nbsp;&nbsp; 1702075 | 17352097 |
| Breville Group Ltd. | &nbsp;&nbsp; 189831 | 3647657 |
| Brickworks Ltd. | &nbsp;&nbsp; 125434 | 2368398 |
| BWP Trust | &nbsp;&nbsp; 822643 | 1929701 |
| CAR Group Ltd. | &nbsp;&nbsp; 471349 | 10779994 |
| Centuria Capital Group | &nbsp;&nbsp; 1206458 | 1346264 |
| Challenger Ltd. | &nbsp;&nbsp; 685890 | 3161226 |
| Champion Iron Ltd. | &nbsp;&nbsp; 508842 | 2090969 |
| Charter Hall Group | &nbsp;&nbsp; 653812 | 5459941 |
| Charter Hall Long Wale REIT | &nbsp;&nbsp; 1007765 | 2357243 |
| Charter Hall Retail REIT | &nbsp;&nbsp; 982098 | 2247060 |
| Cleanaway Waste Management Ltd. | &nbsp;&nbsp; 2569103 | 4749128 |
| Clinuvel Pharmaceuticals Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 65960 | 645836 |
| Cochlear Ltd. | &nbsp;&nbsp; 82930 | 18738504 |
| Codan Ltd./Australia | &nbsp;&nbsp; 251523 | 2161340 |
| Coles Group Ltd. | &nbsp;&nbsp; 1613028 | 19117073 |
| Collins Foods Ltd. | &nbsp;&nbsp; 164945 | 991239 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 2024973 | 182470527 |
| Computershare Ltd. | &nbsp;&nbsp; 651386 | 11748401 |
| Coronado Global Resources Inc.<sup>(c)</sup> | &nbsp;&nbsp; 1088893 | 1027999 |
| Corporate Travel Management Ltd. | &nbsp;&nbsp; 197652 | 1746893 |
| Credit Corp. Group Ltd. | &nbsp;&nbsp; 110511 | 1267714 |
| Cromwell Property Group | &nbsp;&nbsp; 2317956 | 631162 |
| CSL Ltd. | &nbsp;&nbsp; 584030 | 118536523 |
| De Grey Mining Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3376974 | 2707753 |
| Deep Yellow Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1387441 | 1176098 |
| Deterra Royalties Ltd. | &nbsp;&nbsp; 1005203 | 2628082 |
| Dexus | &nbsp;&nbsp; 1325749 | 6112440 |
| Domain Holdings Australia Ltd. | &nbsp;&nbsp; 359894 | 759750 |
| Domino's Pizza Enterprises Ltd. | &nbsp;&nbsp; 78375 | 1685702 |
| Downer EDI Ltd. | &nbsp;&nbsp; 736105 | 2402663 |
| Eagers Automotive Ltd. | &nbsp;&nbsp; 254717 | 1775789 |
| Elders Ltd. | &nbsp;&nbsp; 233209 | 1453546 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Emerald Resources NL<sup>(b)</sup> | &nbsp;&nbsp; 762880 | $1857601 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 1880503 | 6763553 |
| Evolution Mining Ltd. | &nbsp;&nbsp; 2247115 | 5822216 |
| Flight Centre Travel Group Ltd. | &nbsp;&nbsp; 206942 | 3013052 |
| Fortescue Ltd. | &nbsp;&nbsp; 2086843 | 25966229 |
| G8 Education Ltd. | &nbsp;&nbsp; 1316052 | 1123125 |
| Genesis Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1687761 | 2327803 |
| Gold Road Resources Ltd. | &nbsp;&nbsp; 1915052 | 2141289 |
| Goodman Group | &nbsp;&nbsp; 2120619 | 48956793 |
| GPT Group (The) | &nbsp;&nbsp; 2343057 | 7136995 |
| GrainCorp Ltd., Class A | &nbsp;&nbsp; 313483 | 1852188 |
| Growthpoint Properties Australia Ltd. | &nbsp;&nbsp; 461802 | 705591 |
| Harvey Norman Holdings Ltd. | &nbsp;&nbsp; 1027963 | 3228439 |
| Healius Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 894120 | 884585 |
| HUB24 Ltd. | &nbsp;&nbsp; 122372 | 3985532 |
| IDP Education Ltd. | &nbsp;&nbsp; 293592 | 2883270 |
| IGO Ltd. | &nbsp;&nbsp; 848756 | 3108237 |
| Iluka Resources Ltd. | &nbsp;&nbsp; 547344 | 2177534 |
| Incitec Pivot Ltd. | &nbsp;&nbsp; 2299307 | 4439013 |
| Inghams Group Ltd. | &nbsp;&nbsp; 419762 | 1034836 |
| Insignia Financial Ltd. | &nbsp;&nbsp; 986294 | 1786949 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 2875603 | 13911890 |
| IPH Ltd. | &nbsp;&nbsp; 309023 | 1240311 |
| IRESS Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 278935 | 1947925 |
| James Hardie Industries PLC<sup>(b)</sup> | &nbsp;&nbsp; 563209 | 20232508 |
| JB Hi-Fi Ltd. | &nbsp;&nbsp; 141662 | 6468097 |
| Johns Lyng Group Ltd. | &nbsp;&nbsp; 297039 | 1160471 |
| Jumbo Interactive Ltd. | &nbsp;&nbsp; 108772 | 1163893 |
| Lendlease Corp. Ltd. | &nbsp;&nbsp; 740551 | 3056886 |
| Liontown Resources Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 2202689 | 1380196 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 2673581 | 8712029 |
| Lovisa Holdings Ltd. | &nbsp;&nbsp; 86443 | 1982421 |
| Lynas Rare Earths Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1194624 | 4884134 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 439808 | 60528867 |
| Magellan Financial Group Ltd. | &nbsp;&nbsp; 280677 | 1884414 |
| McMillan Shakespeare Ltd. | &nbsp;&nbsp; 135198 | 1586515 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 3368320 | 8768891 |
| Megaport Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 242825 | 1757914 |
| Metcash Ltd. | &nbsp;&nbsp; 1292097 | 3095185 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 215802 | 7717677 |
| Mirvac Group | &nbsp;&nbsp; 4884660 | 6877637 |
| Monadelphous Group Ltd. | &nbsp;&nbsp; 124071 | 1055022 |
| Nanosonics Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 318474 | 658793 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 3757941 | 94913044 |
| National Storage REIT | &nbsp;&nbsp; 2103846 | 3414165 |
| Netwealth Group Ltd. | &nbsp;&nbsp; 175986 | 2735307 |
| Neuren Pharmaceuticals Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 176228 | 2233674 |
| New Hope Corp. Ltd. | &nbsp;&nbsp; 774236 | 2469184 |
| NEXTDC Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 801949 | 8831247 |
| nib holdings Ltd. | &nbsp;&nbsp; 627955 | 3091891 |
| Nickel Industries Ltd. | &nbsp;&nbsp; 3151997 | 1766681 |
| Nine Entertainment Co. Holdings Ltd. | &nbsp;&nbsp; 2037116 | 1940037 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 1388054 | 12882708 |
| NRW Holdings Ltd. | &nbsp;&nbsp; 682885 | 1495608 |
| Nufarm Ltd./Australia | &nbsp;&nbsp; 489567 | 1492557 |
| oOh!media Ltd. | &nbsp;&nbsp; 732126 | 695417 |
| Orica Ltd. | &nbsp;&nbsp; 526555 | 6195910 |
| Origin Energy Ltd. | &nbsp;&nbsp; 2078048 | 14258466 |
| Orora Ltd. | &nbsp;&nbsp; 1672842 | 2238338 |
| Paladin Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 413468 | 3101712 |
| Perpetual Ltd. | &nbsp;&nbsp; 142929 | 2076175 |
| Perseus Mining Ltd. | &nbsp;&nbsp; 2307612 | 3844909 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| PEXA Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 195878 | $1777471 |
| Pilbara Minerals Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3655543 | 7065666 |
| Pinnacle Investment Management Group Ltd. | &nbsp;&nbsp; 202111 | 2181974 |
| Platinum Asset Management Ltd. | &nbsp;&nbsp; 550773 | 385555 |
| PolyNovo Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1286271 | 2267738 |
| Premier Investments Ltd. | &nbsp;&nbsp; 152465 | 3315011 |
| Pro Medicus Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 72776 | 6866354 |
| Qantas Airways Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1005366 | 4259196 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 1824259 | 21529996 |
| Qube Holdings Ltd. | &nbsp;&nbsp; 1758741 | 4404246 |
| Ramelius Resources Ltd. | &nbsp;&nbsp; 2123116 | 2709460 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 218622 | 6657834 |
| REA Group Ltd. | &nbsp;&nbsp; 71224 | 9576042 |
| Red 5 Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 8899254 | 2282532 |
| Reece Ltd. | &nbsp;&nbsp; 273013 | 4947386 |
| Region RE Ltd. | &nbsp;&nbsp; 1361285 | 2026971 |
| Regis Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1552338 | 1712789 |
| Reliance Worldwide Corp. Ltd. | &nbsp;&nbsp; 1134459 | 3824056 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 461497 | 35462397 |
| Sandfire Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 551896 | 3152224 |
| Santos Ltd. | &nbsp;&nbsp; 3813607 | 19879977 |
| Scentre Group | &nbsp;&nbsp; 6280099 | 14321310 |
| SEEK Ltd. | &nbsp;&nbsp; 447661 | 6482841 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 221813 | 5691042 |
| Sigma Healthcare Ltd. | &nbsp;&nbsp; 1857111 | 1582297 |
| Sims Ltd. | &nbsp;&nbsp; 261221 | 1744029 |
| SmartGroup Corp. Ltd. | &nbsp;&nbsp; 237345 | 1343194 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 550932 | 9984632 |
| South32 Ltd. | &nbsp;&nbsp; 5636836 | 11305772 |
| Star Entertainment Group Ltd. (The)<sup>(b)</sup> | &nbsp;&nbsp; 2777313 | 1061490 |
| Steadfast Group Ltd. | &nbsp;&nbsp; 1353908 | 5747185 |
| Stockland | &nbsp;&nbsp; 2999175 | 9058737 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 1467015 | 17068896 |
| Super Retail Group Ltd. | &nbsp;&nbsp; 260613 | 2730105 |
| Tabcorp Holdings Ltd. | &nbsp;&nbsp; 2673554 | 1131231 |
| Technology One Ltd. | &nbsp;&nbsp; 378856 | 5117762 |
| Telix Pharmaceuticals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 370641 | 4653018 |
| Telstra Group Ltd. | &nbsp;&nbsp; 4797230 | 12397308 |
| Transurban Group | &nbsp;&nbsp; 3733803 | 31863510 |
| Treasury Wine Estates Ltd. | &nbsp;&nbsp; 998946 | 8075999 |
| Ventia Services Group Pty Ltd. | &nbsp;&nbsp; 1018348 | 2931873 |
| Vicinity Ltd. | &nbsp;&nbsp; 4412373 | 6118194 |
| Viva Energy Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1470563 | 3136934 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 333131 | 7753756 |
| Waypoint REIT Ltd. | &nbsp;&nbsp; 1417774 | 2354676 |
| Webjet Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 690776 | 4041008 |
| Weebit Nano Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 295172 | 456285 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 1382857 | 66739717 |
| Westpac Banking Corp. | &nbsp;&nbsp; 4244893 | 82957095 |
| Whitehaven Coal Ltd. | &nbsp;&nbsp; 1028061 | 5190122 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 208073 | 13038086 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 2308599 | 41865993 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 1474447 | 33268196 |
| Worley Ltd. | &nbsp;&nbsp; 513268 | 5091069 |
| Xero Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 179326 | 16339675 |
| Yancoal Australia Ltd., NVS | &nbsp;&nbsp; 562802 | 2608302 |
| Zip Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1399251 | 1768014 |
|  |  | 1843467247 |
| **Austria — 0.2%** | **Austria — 0.2%** | **Austria — 0.2%** |
| Andritz AG | &nbsp;&nbsp; 74517 | 4773580 |
| AT&S Austria Technologie & <br> Systemtechnik AG<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 38581 | 823439 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Austria (continued)** | **Austria (continued)** | **Austria (continued)** |
| BAWAG Group AG<sup>(c)</sup> | &nbsp;&nbsp; 91152 | $6656826 |
| CA Immobilien Anlagen AG<sup>(a)</sup> | &nbsp;&nbsp; 75454 | 2466135 |
| DO & CO AG | &nbsp;&nbsp; 15877 | 2675361 |
| Erste Group Bank AG | &nbsp;&nbsp; 405436 | 21089264 |
| EVN AG | &nbsp;&nbsp; 60448 | 1975780 |
| Immofinanz AG<sup>(b)</sup> | &nbsp;&nbsp; 109993 | 3263412 |
| Lenzing AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 32951 | 1147572 |
| Oesterreichische Post AG | &nbsp;&nbsp; 58275 | 1923577 |
| OMV AG | &nbsp;&nbsp; 166487 | 6965832 |
| Raiffeisen Bank International AG | &nbsp;&nbsp; 148568 | 2896380 |
| UNIQA Insurance Group AG | &nbsp;&nbsp; 244045 | 2089375 |
| Verbund AG | &nbsp;&nbsp; 83686 | 6719617 |
| Vienna Insurance Group AG Wiener <br> Versicherung Gruppe<br>| &nbsp;&nbsp; 53647 | 1727910 |
| voestalpine AG | &nbsp;&nbsp; 115806 | 2970059 |
| Wienerberger AG | &nbsp;&nbsp; 123557 | 4380653 |
|  |  | 74544772 |
| **Belgium — 0.7%** | **Belgium — 0.7%** | **Belgium — 0.7%** |
| Ackermans & van Haaren NV | &nbsp;&nbsp; 18659 | 3579905 |
| Aedifica SA | &nbsp;&nbsp; 52949 | 3365576 |
| Ageas SA/NV | &nbsp;&nbsp; 178866 | 8539282 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 1084327 | 64381008 |
| Argenx SE<sup>(b)</sup> | &nbsp;&nbsp; 72522 | 37079499 |
| Barco NV | &nbsp;&nbsp; 139150 | 1797418 |
| Bekaert SA | &nbsp;&nbsp; 71272 | 2918350 |
| bpost SA | &nbsp;&nbsp; 254306 | 726588 |
| Cofinimmo SA | &nbsp;&nbsp; 25971 | 1669740 |
| Colruyt Group NV | &nbsp;&nbsp; 68473 | 3284451 |
| Deme Group NV | &nbsp;&nbsp; 16767 | 3019915 |
| D'ieteren Group | &nbsp;&nbsp; 29990 | 6892247 |
| Elia Group SA/NV | &nbsp;&nbsp; 38101 | 3957178 |
| Fagron | &nbsp;&nbsp; 92865 | 1910868 |
| Galapagos NV<sup>(b)</sup> | &nbsp;&nbsp; 56610 | 1513403 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 109932 | 8204126 |
| KBC Ancora | &nbsp;&nbsp; 78832 | 3833504 |
| KBC Group NV | &nbsp;&nbsp; 302036 | 23361251 |
| Kinepolis Group NV<sup>(a)</sup> | &nbsp;&nbsp; 28541 | 1155923 |
| Lotus Bakeries NV | &nbsp;&nbsp; 464 | 5041726 |
| Melexis NV | &nbsp;&nbsp; 33726 | 2940139 |
| Montea NV | &nbsp;&nbsp; 22023 | 1910179 |
| Ontex Group NV<sup>(b)</sup> | &nbsp;&nbsp; 92832 | 872427 |
| Proximus SADP | &nbsp;&nbsp; 219291 | 1585940 |
| Sofina SA | &nbsp;&nbsp; 18437 | 4356241 |
| Solvay SA | &nbsp;&nbsp; 80486 | 2833471 |
| Syensqo SA | &nbsp;&nbsp; 87050 | 7697638 |
| Tessenderlo Group SA | &nbsp;&nbsp; 49269 | 1314834 |
| UCB SA | &nbsp;&nbsp; 152695 | 25514463 |
| Umicore SA | &nbsp;&nbsp; 246184 | 3381111 |
| VGP NV | &nbsp;&nbsp; 19183 | 2078412 |
| Warehouses De Pauw CVA | &nbsp;&nbsp; 216780 | 5872389 |
| Xior Student Housing NV | &nbsp;&nbsp; 63323 | 2129386 |
|  |  | 248718588 |
| **Brazil — 0.9%** | **Brazil — 0.9%** | **Brazil — 0.9%** |
| 3R Petroleum Oleo E Gas SA | &nbsp;&nbsp; 334752 | 1601511 |
| Allos SA, NVS | &nbsp;&nbsp; 792187 | 3058859 |
| Ambev SA | &nbsp;&nbsp; 5426037 | 11108883 |
| Arezzo Industria e Comercio SA | &nbsp;&nbsp; 133318 | 1146702 |
| Atacadao SA<sup>(b)</sup> | &nbsp;&nbsp; 774480 | 1267945 |
| Auren Energia SA | &nbsp;&nbsp; 757082 | 1590151 |
| B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp; 6955611 | 13342712 |
| Banco Bradesco SA | &nbsp;&nbsp; 1617729 | 3211919 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Brazil (continued)** | **Brazil (continued)** | **Brazil (continued)** |
| Banco BTG Pactual SA | &nbsp;&nbsp; 1524870 | $8791494 |
| Banco do Brasil SA | &nbsp;&nbsp; 2077138 | 9750097 |
| BB Seguridade Participacoes SA | &nbsp;&nbsp; 823102 | 5118057 |
| BRF SA<sup>(b)</sup> | &nbsp;&nbsp; 842953 | 3138635 |
| Caixa Seguridade Participacoes S/A | &nbsp;&nbsp; 737557 | 1880355 |
| CCR SA | &nbsp;&nbsp; 1074003 | 2350743 |
| Centrais Eletricas Brasileiras SA | &nbsp;&nbsp; 1395512 | 9762897 |
| Cia de Saneamento de Minas Gerais Copasa MG | &nbsp;&nbsp; 250749 | 973976 |
| Cia. de Saneamento Basico do Estado de Sao <br> Paulo SABESP<br>| &nbsp;&nbsp; 463339 | 7228421 |
| Cia. de Saneamento do Parana | &nbsp;&nbsp; 312903 | 1511366 |
| Cia. Siderurgica Nacional SA | &nbsp;&nbsp; 801660 | 1680947 |
| Cielo SA | &nbsp;&nbsp; 2037559 | 2078572 |
| Cogna Educacao SA<sup>(b)</sup> | &nbsp;&nbsp; 2444390 | 656891 |
| Cosan SA | &nbsp;&nbsp; 1440880 | 3405950 |
| CPFL Energia SA | &nbsp;&nbsp; 277229 | 1591966 |
| Cyrela Brazil Realty SA Empreendimentos <br> e Participacoes<br>| &nbsp;&nbsp; 482495 | 1662585 |
| Dexco SA | &nbsp;&nbsp; 616883 | 797259 |
| EcoRodovias Infraestrutura e Logistica SA | &nbsp;&nbsp; 484504 | 607327 |
| Embraer SA<sup>(b)</sup> | &nbsp;&nbsp; 864669 | 6697338 |
| Energisa SA | &nbsp;&nbsp; 258577 | 2008307 |
| Eneva SA<sup>(b)</sup> | &nbsp;&nbsp; 1074404 | 2399109 |
| Engie Brasil Energia SA | &nbsp;&nbsp; 266345 | 2082766 |
| Equatorial Energia SA | &nbsp;&nbsp; 1345787 | 7766146 |
| Ez Tec Empreendimentos e Participacoes SA | &nbsp;&nbsp; 206075 | 480562 |
| Fleury SA | &nbsp;&nbsp; 441688 | 1183842 |
| GPS Participacoes e Empreendimentos SA<sup>(c)</sup> | &nbsp;&nbsp; 657658 | 2023152 |
| Grendene SA | &nbsp;&nbsp; 430110 | 447132 |
| Grupo De Moda Soma SA<sup>(b)</sup> | &nbsp;&nbsp; 952601 | 1000407 |
| Grupo SBF SA | &nbsp;&nbsp; 269851 | 721365 |
| Hapvida Participacoes e Investimentos SA<sup>(b)(c)</sup> | &nbsp;&nbsp; 6356623 | 4574040 |
| Hypera SA | &nbsp;&nbsp; 516196 | 2628368 |
| Iguatemi SA | &nbsp;&nbsp; 361575 | 1347560 |
| IRB-Brasil Resseguros SA<sup>(b)</sup> | &nbsp;&nbsp; 138707 | 718776 |
| JBS SA | &nbsp;&nbsp; 848293 | 5057228 |
| JHSF Participacoes SA | &nbsp;&nbsp; 870932 | 628237 |
| Klabin SA | &nbsp;&nbsp; 970627 | 3790768 |
| Localiza Rent a Car SA | &nbsp;&nbsp; 1190217 | 9223095 |
| LOG Commercial Properties e Participacoes SA | &nbsp;&nbsp; 121245 | 466018 |
| Lojas Renner SA | &nbsp;&nbsp; 1203706 | 2821909 |
| LWSA SA<sup>(b)(c)</sup> | &nbsp;&nbsp; 849271 | 660660 |
| M. Dias Branco SA | &nbsp;&nbsp; 208615 | 993624 |
| Magazine Luiza SA<sup>(b)</sup> | &nbsp;&nbsp; 414048 | 810359 |
| Marfrig Global Foods SA<sup>(b)</sup> | &nbsp;&nbsp; 708830 | 1417372 |
| Minerva SA | &nbsp;&nbsp; 798643 | 888142 |
| Movida Participacoes SA<sup>(b)</sup> | &nbsp;&nbsp; 421369 | 486469 |
| MRV Engenharia e Participacoes SA<sup>(b)</sup> | &nbsp;&nbsp; 505866 | 601907 |
| Multiplan Empreendimentos Imobiliarios SA | &nbsp;&nbsp; 459192 | 1945182 |
| Natura & Co. Holding SA | &nbsp;&nbsp; 1147598 | 3029205 |
| Odontoprev SA | &nbsp;&nbsp; 406978 | 814510 |
| Petroleo Brasileiro SA | &nbsp;&nbsp; 4622907 | 33183353 |
| PRIO SA | &nbsp;&nbsp; 963168 | 8182283 |
| Raia Drogasil SA | &nbsp;&nbsp; 1426524 | 6960930 |
| Rede D'Or Sao Luiz SA<sup>(c)</sup> | &nbsp;&nbsp; 687004 | 3351121 |
| Rumo SA | &nbsp;&nbsp; 1556133 | 6093959 |
| Santos Brasil Participacoes SA | &nbsp;&nbsp; 1140656 | 2643848 |
| Sao Martinho SA | &nbsp;&nbsp; 302246 | 1552871 |
| Sendas Distribuidora SA<sup>(b)</sup> | &nbsp;&nbsp; 1416395 | 2459093 |
| SLC Agricola SA | &nbsp;&nbsp; 459792 | 1459980 |
| Smartfit Escola de Ginastica e Danca SA | &nbsp;&nbsp; 405886 | 1521315 |
| Suzano SA | &nbsp;&nbsp; 952390 | 9069018 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Brazil (continued)** | **Brazil (continued)** | **Brazil (continued)** |
| Telefonica Brasil SA | &nbsp;&nbsp; 477429 | $4094672 |
| TIM SA/Brazil | &nbsp;&nbsp; 974610 | 3013698 |
| TOTVS SA | &nbsp;&nbsp; 601353 | 2950336 |
| Transmissora Alianca de Energia Eletrica SA | &nbsp;&nbsp; 437753 | 2615149 |
| Ultrapar Participacoes SA | &nbsp;&nbsp; 804695 | 3159795 |
| Vale SA | &nbsp;&nbsp; 4094234 | 44611200 |
| Vamos Locacao de Caminhoes Maquinas e <br> Equipamentos SA<br>| &nbsp;&nbsp; 593083 | 904910 |
| Vibra Energia SA | &nbsp;&nbsp; 1392082 | 5700100 |
| WEG SA | &nbsp;&nbsp; 2015866 | 18055351 |
| YDUQS Participacoes SA | &nbsp;&nbsp; 389549 | 753457 |
|  |  | 331366214 |
| **Canada — 7.5%** | **Canada — 7.5%** | **Canada — 7.5%** |
| Advantage Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 247315 | 1725016 |
| Aecon Group Inc. | &nbsp;&nbsp; 118844 | 1448698 |
| Ag Growth International Inc. | &nbsp;&nbsp; 34106 | 1407322 |
| Agnico Eagle Mines Ltd. | &nbsp;&nbsp; 604746 | 46661783 |
| Air Canada<sup>(a)(b)</sup> | &nbsp;&nbsp; 189711 | 2186146 |
| Alamos Gold Inc., Class A | &nbsp;&nbsp; 481079 | 8198884 |
| Algonquin Power & Utilities Corp. | &nbsp;&nbsp; 805567 | 5029506 |
| Alimentation Couche-Tard Inc. | &nbsp;&nbsp; 935564 | 57672728 |
| Allied Properties REIT | &nbsp;&nbsp; 178376 | 2138212 |
| AltaGas Ltd. | &nbsp;&nbsp; 339345 | 8091288 |
| Altus Group Ltd. | &nbsp;&nbsp; 58540 | 2449042 |
| ARC Resources Ltd. | &nbsp;&nbsp; 775190 | 13413457 |
| Aritzia Inc.<sup>(b)</sup> | &nbsp;&nbsp; 95671 | 3140412 |
| Atco Ltd., Class I, NVS | &nbsp;&nbsp; 82397 | 2556088 |
| Athabasca Oil Corp.<sup>(b)</sup> | &nbsp;&nbsp; 904222 | 3706875 |
| AtkinsRealis Group Inc. | &nbsp;&nbsp; 211642 | 9117782 |
| ATS Corp.<sup>(b)</sup> | &nbsp;&nbsp; 105928 | 3183249 |
| Aya Gold & Silver Inc.<sup>(b)</sup> | &nbsp;&nbsp; 152938 | 1725835 |
| B2Gold Corp. | &nbsp;&nbsp; 1216019 | 3646340 |
| Badger Infrastructure Solutions Ltd. | &nbsp;&nbsp; 71412 | 2017215 |
| Ballard Power Systems Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 319945 | 725331 |
| Bank of Montreal | &nbsp;&nbsp; 883846 | 74547399 |
| Bank of Nova Scotia (The) | &nbsp;&nbsp; 1463172 | 68323398 |
| Barrick Gold Corp. | &nbsp;&nbsp; 2117419 | 39230491 |
| Bausch Health Companies Inc.<sup>(b)</sup> | &nbsp;&nbsp; 344577 | 2076472 |
| Baytex Energy Corp. | &nbsp;&nbsp; 820299 | 3047937 |
| BCE Inc. | &nbsp;&nbsp; 49702 | 1676473 |
| Birchcliff Energy Ltd. | &nbsp;&nbsp; 319065 | 1384275 |
| Bitfarms Ltd./Canada<sup>(a)(b)</sup> | &nbsp;&nbsp; 472084 | 1234363 |
| BlackBerry Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 666484 | 1607498 |
| Boardwalk REIT | &nbsp;&nbsp; 61606 | 3480439 |
| Bombardier Inc., Class B<sup>(b)</sup> | &nbsp;&nbsp; 105447 | 7116613 |
| Boralex Inc., Class A | &nbsp;&nbsp; 113172 | 2808295 |
| Boyd Group Services Inc. | &nbsp;&nbsp; 24639 | 4130979 |
| Brookfield Asset Management Ltd. | &nbsp;&nbsp; 425520 | 18572292 |
| Brookfield Corp., Class A | &nbsp;&nbsp; 1651292 | 80528367 |
| Brookfield Infrastructure Corp., Class A | &nbsp;&nbsp; 129463 | 5041054 |
| Brookfield Reinsurance Ltd. | &nbsp;&nbsp; 25460 | 1239576 |
| Brookfield Renewable Corp., Class A | &nbsp;&nbsp; 154773 | 4350661 |
| BRP Inc. | &nbsp;&nbsp; 51601 | 3738564 |
| CAE Inc.<sup>(b)</sup> | &nbsp;&nbsp; 389716 | 7090621 |
| Calibre Mining Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 767296 | 1189305 |
| Cameco Corp. | &nbsp;&nbsp; 536495 | 24418459 |
| Canada Goose Holdings Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 94516 | 1090530 |
| Canadian Apartment Properties REIT | &nbsp;&nbsp; 94784 | 3295283 |
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp; 1126650 | 58264448 |
| Canadian National Railway Co. | &nbsp;&nbsp; 658567 | 76238557 |
| Canadian Natural Resources Ltd. | &nbsp;&nbsp; 2618114 | 92956179 |
| Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp; 1138529 | 95475962 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Canadian Tire Corp. Ltd., Class A, NVS | &nbsp;&nbsp; 68452 | $7029388 |
| Canadian Utilities Ltd., Class A, NVS | &nbsp;&nbsp; 101663 | 2380592 |
| Canadian Western Bank | &nbsp;&nbsp; 127588 | 4408955 |
| Canfor Corp.<sup>(b)</sup> | &nbsp;&nbsp; 132371 | 1518674 |
| Capital Power Corp. | &nbsp;&nbsp; 122651 | 3790619 |
| Capstone Copper Corp.<sup>(b)</sup> | &nbsp;&nbsp; 652652 | 4386782 |
| Cardinal Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 292432 | 1455117 |
| Cascades Inc. | &nbsp;&nbsp; 81816 | 576590 |
| CCL Industries Inc., Class B, NVS | &nbsp;&nbsp; 179962 | 9790277 |
| Celestica Inc., NVS<sup>(b)</sup> | &nbsp;&nbsp; 152063 | 7975143 |
| Cenovus Energy Inc. | &nbsp;&nbsp; 1719970 | 34657274 |
| Centerra Gold Inc. | &nbsp;&nbsp; 352536 | 2364454 |
| CES Energy Solutions Corp. | &nbsp;&nbsp; 302342 | 1808818 |
| CGI Inc.<sup>(b)</sup> | &nbsp;&nbsp; 254570 | 29027599 |
| Choice Properties REIT | &nbsp;&nbsp; 299092 | 3002510 |
| CI Financial Corp. | &nbsp;&nbsp; 249379 | 3014620 |
| Cogeco Communications Inc. | &nbsp;&nbsp; 33551 | 1538245 |
| Colliers International Group Inc. | &nbsp;&nbsp; 51876 | 6991321 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 24909 | 78594016 |
| Converge Technology Solutions Corp. | &nbsp;&nbsp; 336035 | 1024668 |
| Cronos Group Inc.<sup>(b)</sup> | &nbsp;&nbsp; 386122 | 950867 |
| Definity Financial Corp. | &nbsp;&nbsp; 64779 | 2253060 |
| Denison Mines Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1560936 | 3075179 |
| Descartes Systems Group Inc. (The)<sup>(b)</sup> | &nbsp;&nbsp; 112543 | 11446267 |
| Dollarama Inc. | &nbsp;&nbsp; 349915 | 32803026 |
| Dream Industrial REIT | &nbsp;&nbsp; 355640 | 3472297 |
| Dundee Precious Metals Inc. | &nbsp;&nbsp; 242708 | 2051499 |
| Dye & Durham Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 100063 | 959573 |
| Eldorado Gold Corp.<sup>(b)</sup> | &nbsp;&nbsp; 269047 | 4561902 |
| Element Fleet Management Corp. | &nbsp;&nbsp; 505982 | 9678763 |
| Emera Inc. | &nbsp;&nbsp; 301958 | 10900363 |
| Empire Co. Ltd., NVS | &nbsp;&nbsp; 174418 | 4611058 |
| Enbridge Inc. | &nbsp;&nbsp; 2573525 | 96312633 |
| Endeavour Silver Corp.<sup>(b)</sup> | &nbsp;&nbsp; 340160 | 1532463 |
| Enerflex Ltd. | &nbsp;&nbsp; 150780 | 844189 |
| Energy Fuels Inc./Canada<sup>(a)(b)</sup> | &nbsp;&nbsp; 283373 | 1623496 |
| Enghouse Systems Ltd. | &nbsp;&nbsp; 64695 | 1439958 |
| EQB Inc.<sup>(a)</sup> | &nbsp;&nbsp; 37341 | 2606419 |
| Equinox Gold Corp.<sup>(b)</sup> | &nbsp;&nbsp; 413774 | 2322637 |
| ERO Copper Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 120497 | 2356440 |
| Extendicare Inc. | &nbsp;&nbsp; 220704 | 1264454 |
| Fairfax Financial Holdings Ltd. | &nbsp;&nbsp; 25960 | 30615182 |
| Filo Corp., NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 142471 | 3296960 |
| Finning International Inc. | &nbsp;&nbsp; 184183 | 5278761 |
| First Capital Real Estate Investment Trust | &nbsp;&nbsp; 225571 | 2674535 |
| First Majestic Silver Corp. | &nbsp;&nbsp; 389597 | 2409849 |
| First Quantum Minerals Ltd. | &nbsp;&nbsp; 855681 | 10474058 |
| FirstService Corp. | &nbsp;&nbsp; 53867 | 9392245 |
| Fortis Inc./Canada | &nbsp;&nbsp; 563490 | 23557486 |
| Fortuna Mining Corp.<sup>(b)</sup> | &nbsp;&nbsp; 441060 | 2124397 |
| Franco-Nevada Corp. | &nbsp;&nbsp; 229828 | 29617208 |
| Freehold Royalties Ltd. | &nbsp;&nbsp; 311097 | 3190623 |
| George Weston Ltd. | &nbsp;&nbsp; 74852 | 11592261 |
| GFL Environmental Inc. | &nbsp;&nbsp; 262249 | 10175409 |
| Gibson Energy Inc. | &nbsp;&nbsp; 178615 | 2918592 |
| Gildan Activewear Inc. | &nbsp;&nbsp; 203409 | 8282804 |
| goeasy Ltd. | &nbsp;&nbsp; 24823 | 3653196 |
| Granite REIT | &nbsp;&nbsp; 54878 | 2948900 |
| Great-West Lifeco Inc. | &nbsp;&nbsp; 332650 | 9991667 |
| H&R Real Estate Investment Trust | &nbsp;&nbsp; 282389 | 1965566 |
| Hammond Power Solutions Inc.<sup>(a)</sup> | &nbsp;&nbsp; 9735 | 841470 |
| Headwater Exploration Inc. | &nbsp;&nbsp; 358440 | 1897799 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Hudbay Minerals Inc. | &nbsp;&nbsp; 467963 | $3904635 |
| Hydro One Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 395964 | 12409635 |
| iA Financial Corp. Inc. | &nbsp;&nbsp; 134568 | 9099532 |
| IAMGOLD Corp.<sup>(b)</sup> | &nbsp;&nbsp; 671934 | 2769206 |
| IGM Financial Inc. | &nbsp;&nbsp; 38148 | 1080904 |
| Imperial Oil Ltd. | &nbsp;&nbsp; 233320 | 16715084 |
| Innergex Renewable Energy Inc. | &nbsp;&nbsp; 184739 | 1269817 |
| Intact Financial Corp. | &nbsp;&nbsp; 217380 | 39503598 |
| Interfor Corp.<sup>(b)</sup> | &nbsp;&nbsp; 113089 | 1485028 |
| InterRent REIT | &nbsp;&nbsp; 215694 | 1991887 |
| Ivanhoe Mines Ltd., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 840085 | 10982895 |
| Jamieson Wellness Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 77728 | 1839260 |
| K92 Mining Inc.<sup>(b)</sup> | &nbsp;&nbsp; 245390 | 1404107 |
| Keyera Corp. | &nbsp;&nbsp; 266027 | 7504981 |
| Killam Apartment REIT | &nbsp;&nbsp; 178814 | 2399901 |
| Kinaxis Inc.<sup>(b)</sup> | &nbsp;&nbsp; 36470 | 4486868 |
| Kinross Gold Corp. | &nbsp;&nbsp; 1451885 | 13197521 |
| Labrador Iron Ore Royalty Corp. | &nbsp;&nbsp; 119808 | 2662304 |
| Laurentian Bank of Canada | &nbsp;&nbsp; 52503 | 1016862 |
| Lightspeed Commerce Inc.<sup>(b)</sup> | &nbsp;&nbsp; 199992 | 2678341 |
| Linamar Corp. | &nbsp;&nbsp; 62756 | 3130414 |
| Lithium Americas Argentina Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 157547 | 475842 |
| Lithium Americas Corp.<sup>(b)</sup> | &nbsp;&nbsp; 245769 | 665756 |
| Loblaw Companies Ltd. | &nbsp;&nbsp; 194715 | 24010596 |
| Lundin Gold Inc. | &nbsp;&nbsp; 159575 | 2762353 |
| Lundin Mining Corp. | &nbsp;&nbsp; 800854 | 8085977 |
| MAG Silver Corp.<sup>(b)</sup> | &nbsp;&nbsp; 151434 | 2074108 |
| Magna International Inc. | &nbsp;&nbsp; 331945 | 14730938 |
| Manulife Financial Corp. | &nbsp;&nbsp; 2186651 | 58251565 |
| Maple Leaf Foods Inc.<sup>(a)</sup> | &nbsp;&nbsp; 116649 | 2129954 |
| Martinrea International Inc. | &nbsp;&nbsp; 198254 | 1634107 |
| Mattr Corp., NVS<sup>(b)</sup> | &nbsp;&nbsp; 111066 | 1411805 |
| MDA Space Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 128502 | 1229502 |
| MEG Energy Corp.<sup>(b)</sup> | &nbsp;&nbsp; 332763 | 6895556 |
| Methanex Corp. | &nbsp;&nbsp; 81039 | 3939693 |
| Metro Inc./CN | &nbsp;&nbsp; 277626 | 16533089 |
| MTY Food Group Inc. | &nbsp;&nbsp; 36512 | 1204858 |
| Mullen Group Ltd. | &nbsp;&nbsp; 107538 | 1164447 |
| National Bank of Canada | &nbsp;&nbsp; 412299 | 34485415 |
| New Gold Inc.<sup>(b)</sup> | &nbsp;&nbsp; 935557 | 2161610 |
| NexGen Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 623517 | 4154823 |
| NFI Group Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 128109 | 1591330 |
| NGEx Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 92390 | 613636 |
| North West Co. Inc. (The) | &nbsp;&nbsp; 92111 | 2982858 |
| Northland Power Inc. | &nbsp;&nbsp; 281697 | 4711103 |
| Novagold Resources Inc.<sup>(b)</sup> | &nbsp;&nbsp; 369896 | 1765556 |
| Nutrien Ltd. | &nbsp;&nbsp; 604501 | 31003307 |
| Nuvei Corp.<sup>(c)</sup> | &nbsp;&nbsp; 83096 | 2745692 |
| NuVista Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 286361 | 2773075 |
| OceanaGold Corp. | &nbsp;&nbsp; 807632 | 1988881 |
| Onex Corp. | &nbsp;&nbsp; 84397 | 5783363 |
| Open Text Corp. | &nbsp;&nbsp; 343274 | 10820472 |
| Orla Mining Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 375514 | 1397995 |
| Osisko Gold Royalties Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 232490 | 4076763 |
| Osisko Mining Inc.<sup>(b)</sup> | &nbsp;&nbsp; 588693 | 1394290 |
| Pan American Silver Corp. | &nbsp;&nbsp; 458886 | 10549409 |
| Paramount Resources Ltd., Class A | &nbsp;&nbsp; 130832 | 2838097 |
| Parex Resources Inc. | &nbsp;&nbsp; 142170 | 2132576 |
| Parkland Corp. | &nbsp;&nbsp; 184752 | 5182664 |
| Pason Systems Inc. | &nbsp;&nbsp; 177608 | 2104564 |
| Pembina Pipeline Corp. | &nbsp;&nbsp; 693307 | 26870574 |
| Peyto Exploration & Development Corp. | &nbsp;&nbsp; 300587 | 3213460 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Poseidon Concepts Corp.<sup>(b)(d)</sup> | &nbsp;&nbsp; 293 | $— |
| Power Corp. of Canada | &nbsp;&nbsp; 694162 | 20091054 |
| PrairieSky Royalty Ltd. | &nbsp;&nbsp; 299658 | 6022895 |
| Precision Drilling Corp.<sup>(b)</sup> | &nbsp;&nbsp; 18864 | 1451298 |
| Premium Brands Holdings Corp., Class A | &nbsp;&nbsp; 42588 | 2880431 |
| Primo Water Corp. | &nbsp;&nbsp; 183589 | 4027748 |
| Prinmaris REIT | &nbsp;&nbsp; 145806 | 1438364 |
| Quebecor Inc., Class B | &nbsp;&nbsp; 147627 | 3261235 |
| RB Global Inc. | &nbsp;&nbsp; 230097 | 18330764 |
| Restaurant Brands International Inc. | &nbsp;&nbsp; 367320 | 25718918 |
| Richelieu Hardware Ltd. | &nbsp;&nbsp; 84579 | 2498194 |
| RioCan REIT | &nbsp;&nbsp; 240956 | 3120482 |
| Rogers Communications Inc., Class B, NVS | &nbsp;&nbsp; 439342 | 16989439 |
| Royal Bank of Canada | &nbsp;&nbsp; 1712220 | 191331113 |
| Russel Metals Inc. | &nbsp;&nbsp; 85333 | 2480909 |
| Sandstorm Gold Ltd. | &nbsp;&nbsp; 343010 | 1970137 |
| Saputo Inc. | &nbsp;&nbsp; 288707 | 6635044 |
| Seabridge Gold Inc.<sup>(b)</sup> | &nbsp;&nbsp; 142946 | 2371994 |
| Secure Energy Services Inc. | &nbsp;&nbsp; 350918 | 3098316 |
| Shopify Inc., Class A<sup>(b)</sup> | &nbsp;&nbsp; 1473507 | 90247168 |
| Silvercorp Metals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 272767 | 1011529 |
| SilverCrest Metals Inc.<sup>(b)</sup> | &nbsp;&nbsp; 258389 | 2528400 |
| Sleep Country Canada Holdings Inc.<sup>(c)</sup> | &nbsp;&nbsp; 68714 | 1742921 |
| SmartCentres Real Estate Investment Trust<sup>(a)</sup> | &nbsp;&nbsp; 177312 | 3079667 |
| Spartan Delta Corp.<sup>(b)</sup> | &nbsp;&nbsp; 183429 | 539399 |
| Spin Master Corp.<sup>(c)</sup> | &nbsp;&nbsp; 51028 | 1168287 |
| Sprott Inc. | &nbsp;&nbsp; 29705 | 1323832 |
| SSR Mining Inc. | &nbsp;&nbsp; 276565 | 1534413 |
| Stantec Inc. | &nbsp;&nbsp; 146369 | 12878649 |
| Stelco Holdings Inc. | &nbsp;&nbsp; 51734 | 2489932 |
| Stella-Jones Inc. | &nbsp;&nbsp; 65063 | 4377432 |
| StorageVault Canada Inc., NVS | &nbsp;&nbsp; 344392 | 1169883 |
| Sun Life Financial Inc. | &nbsp;&nbsp; 696067 | 34555052 |
| Suncor Energy Inc. | &nbsp;&nbsp; 1569552 | 62684313 |
| SunOpta Inc.<sup>(b)</sup> | &nbsp;&nbsp; 107699 | 570224 |
| Superior Plus Corp. | &nbsp;&nbsp; 269795 | 1559384 |
| Tamarack Valley Energy Ltd. | &nbsp;&nbsp; 813287 | 2415150 |
| TC Energy Corp. | &nbsp;&nbsp; 1256958 | 53368253 |
| Teck Resources Ltd., Class B | &nbsp;&nbsp; 559355 | 27419800 |
| TELUS Corp. | &nbsp;&nbsp; 539108 | 8703667 |
| TELUS Corp., NVS | &nbsp;&nbsp; 47398 | 765220 |
| TFI International Inc. | &nbsp;&nbsp; 100028 | 15570215 |
| Thomson Reuters Corp. | &nbsp;&nbsp; 192863 | 31255638 |
| TMX Group Ltd. | &nbsp;&nbsp; 365650 | 11112645 |
| Topaz Energy Corp. | &nbsp;&nbsp; 214105 | 4030412 |
| Torex Gold Resources Inc.<sup>(b)</sup> | &nbsp;&nbsp; 129712 | 2056564 |
| Toromont Industries Ltd. | &nbsp;&nbsp; 99269 | 9231985 |
| Toronto-Dominion Bank (The) | &nbsp;&nbsp; 2132068 | 125902657 |
| Tourmaline Oil Corp. | &nbsp;&nbsp; 413245 | 18183199 |
| TransAlta Corp. | &nbsp;&nbsp; 382100 | 2878238 |
| Transcontinental Inc., Class A | &nbsp;&nbsp; 178883 | 2111899 |
| Trisura Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 80711 | 2699623 |
| Veren Inc. | &nbsp;&nbsp; 747347 | 5835223 |
| Vermilion Energy Inc. | &nbsp;&nbsp; 214860 | 2310992 |
| Wesdome Gold Mines Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 256502 | 2469063 |
| West Fraser Timber Co. Ltd. | &nbsp;&nbsp; 74845 | 6636927 |
| Westshore Terminals Investment Corp.<sup>(a)</sup> | &nbsp;&nbsp; 56683 | 950430 |
| Wheaton Precious Metals Corp. | &nbsp;&nbsp; 561477 | 33571091 |
| Whitecap Resources Inc. | &nbsp;&nbsp; 785174 | 6050955 |
| Winpak Ltd. | &nbsp;&nbsp; 62068 | 2138090 |
| WSP Global Inc. | &nbsp;&nbsp; 155605 | 25847572 |
|  |  | 2840465639 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Chile — 0.1%** | **Chile — 0.1%** | **Chile — 0.1%** |
| Aguas Andinas SA, Class A | &nbsp;&nbsp; 4603370 | $1367998 |
| Banco de Chile | &nbsp;&nbsp; 52145606 | 6212351 |
| Banco de Credito e Inversiones SA | &nbsp;&nbsp; 98314 | 2874866 |
| Banco Itau Chile SA, NVS | &nbsp;&nbsp; 80150 | 894446 |
| Banco Santander Chile | &nbsp;&nbsp; 68147547 | 3393359 |
| CAP SA<sup>(b)</sup> | &nbsp;&nbsp; 122273 | 689337 |
| Cencosud SA | &nbsp;&nbsp; 1533680 | 2834916 |
| Cia. Cervecerias Unidas SA | &nbsp;&nbsp; 240122 | 1325945 |
| Cia. Sud Americana de Vapores SA | &nbsp;&nbsp; 23210599 | 1595140 |
| Colbun SA | &nbsp;&nbsp; 11927423 | 1551277 |
| Empresa Nacional de Telecomunicaciones SA | &nbsp;&nbsp; 266377 | 749066 |
| Empresas CMPC SA | &nbsp;&nbsp; 1195577 | 2076670 |
| Empresas Copec SA | &nbsp;&nbsp; 431066 | 3002302 |
| Enel Americas SA | &nbsp;&nbsp; 32547784 | 3046144 |
| Enel Chile SA | &nbsp;&nbsp; 39090808 | 2232871 |
| Engie Energia Chile SA<sup>(b)</sup> | &nbsp;&nbsp; 1122588 | 1020237 |
| Falabella SA<sup>(b)</sup> | &nbsp;&nbsp; 839209 | 2779915 |
| Inversiones Aguas Metropolitanas SA | &nbsp;&nbsp; 1023015 | 747324 |
| Latam Airlines Group SA | &nbsp;&nbsp; 221643725 | 2743852 |
| Parque Arauco SA | &nbsp;&nbsp; 1125848 | 1792990 |
| Vina Concha y Toro SA | &nbsp;&nbsp; 973221 | 1220304 |
|  |  | 44151310 |
| **China — 6.3%** | **China — 6.3%** | **China — 6.3%** |
| 37 Interactive Entertainment Network Technology <br> Group Co. Ltd., Class A<br>| &nbsp;&nbsp; 381900 | 699610 |
| 3SBio Inc.<sup>(c)</sup> | &nbsp;&nbsp; 2202500 | 1727617 |
| AAC Technologies Holdings Inc. | &nbsp;&nbsp; 855000 | 3129721 |
| Advanced Micro-Fabrication Equipment Inc./China, <br> Class A<br>| &nbsp;&nbsp; 82000 | 1787575 |
| AECC Aviation Power Co. Ltd., Class A | &nbsp;&nbsp; 252600 | 1390132 |
| Agricultural Bank of China Ltd., Class A | &nbsp;&nbsp; 7443500 | 4726962 |
| Agricultural Bank of China Ltd., Class H | &nbsp;&nbsp; 34466000 | 15423277 |
| Aier Eye Hospital Group Co. Ltd., Class A | &nbsp;&nbsp; 955475 | 1464107 |
| Air China Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 1259100 | 1270878 |
| AK Medical Holdings Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 1234000 | 683206 |
| Akeso Inc.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 702000 | 3801810 |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp; 18989572 | 186861615 |
| Alibaba Health Information Technology Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 8156000 | 3449836 |
| Alibaba Pictures Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 19990000 | 1010015 |
| A-Living Smart City Services Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 844500 | 292875 |
| Alphamab Oncology<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 855000 | 243117 |
| Aluminum Corp. of China Ltd., Class A | &nbsp;&nbsp; 637500 | 609111 |
| Aluminum Corp. of China Ltd., Class H | &nbsp;&nbsp; 5012000 | 2805640 |
| Anhui Conch Cement Co. Ltd., Class A | &nbsp;&nbsp; 540687 | 1809087 |
| Anhui Conch Cement Co. Ltd., Class H | &nbsp;&nbsp; 1192000 | 2906374 |
| Anhui Gujing Distillery Co. Ltd., Class A | &nbsp;&nbsp; 49400 | 1286304 |
| Anhui Gujing Distillery Co. Ltd., Class B | &nbsp;&nbsp; 37400 | 498669 |
| ANTA Sports Products Ltd. | &nbsp;&nbsp; 1596400 | 14289117 |
| Anxin-China Holdings Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 1004000 | 1 |
| Ascentage Pharma Group International<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 431200 | 1512371 |
| Autohome Inc., ADR | &nbsp;&nbsp; 117106 | 2920624 |
| AviChina Industry & Technology Co. Ltd., Class H | &nbsp;&nbsp; 3293000 | 1610844 |
| Baidu Inc.<sup>(b)</sup> | &nbsp;&nbsp; 2778856 | 30810846 |
| Bank of Beijing Co. Ltd., Class A | &nbsp;&nbsp; 3204693 | 2364184 |
| Bank of China Ltd., Class A | &nbsp;&nbsp; 3508100 | 2263030 |
| Bank of China Ltd., Class H | &nbsp;&nbsp; 96429000 | 42938685 |
| Bank of Communications Co. Ltd., Class A | &nbsp;&nbsp; 2832463 | 2885235 |
| Bank of Communications Co. Ltd., Class H | &nbsp;&nbsp; 11225000 | 8155957 |
| Bank of Jiangsu Co. Ltd., Class A | &nbsp;&nbsp; 1697700 | 1807402 |
| Bank of Nanjing Co. Ltd., Class A | &nbsp;&nbsp; 1157900 | 1617210 |
| Bank of Ningbo Co. Ltd., Class A | &nbsp;&nbsp; 585471 | 1743365 |
| Bank of Shanghai Co. Ltd., Class A | &nbsp;&nbsp; 2143151 | 2162390 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Baoshan Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp; 2823276 | $2656844 |
| BeiGene Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 803779 | 10226274 |
| Beijing Capital International Airport Co. Ltd., <br> Class H<sup>(b)</sup><br>| &nbsp;&nbsp; 2456000 | 817381 |
| Beijing Enterprises Holdings Ltd. | &nbsp;&nbsp; 620000 | 2057195 |
| Beijing Enterprises Water Group Ltd. | &nbsp;&nbsp; 7510000 | 2317215 |
| Beijing Kingsoft Office Software Inc., Class A | &nbsp;&nbsp; 41600 | 1214352 |
| Beijing New Building Materials PLC, Class A | &nbsp;&nbsp; 174600 | 628138 |
| Beijing Tongrentang Co. Ltd., Class A | &nbsp;&nbsp; 244113 | 1260876 |
| Beijing Wantai Biological Pharmacy Enterprise Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 94780 | 903810 |
| Beijing-Shanghai High Speed Railway Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 3752600 | 2972446 |
| Bilibili Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 261584 | 3980291 |
| BOC Aviation Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 229000 | 2009248 |
| BOE Technology Group Co. Ltd., Class A | &nbsp;&nbsp; 5543700 | 3028051 |
| BOE Varitronix Ltd. | &nbsp;&nbsp; 555000 | 317590 |
| Bosideng International Holdings Ltd. | &nbsp;&nbsp; 5420000 | 2712480 |
| Brilliance China Automotive Holdings Ltd. | &nbsp;&nbsp; 3540000 | 1732506 |
| BYD Co. Ltd., Class A | &nbsp;&nbsp; 187400 | 6409514 |
| BYD Co. Ltd., Class H | &nbsp;&nbsp; 1235000 | 36561881 |
| BYD Electronic International Co. Ltd. | &nbsp;&nbsp; 972500 | 3784847 |
| C&D International Investment Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 894000 | 1498452 |
| Cambricon Technologies Corp. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 36000 | 1316996 |
| Canggang Railway Ltd., NVS | &nbsp;&nbsp; 616000 | 65269 |
| CGN Mining Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 3860000 | 1082763 |
| CGN New Energy Holdings Co. Ltd. | &nbsp;&nbsp; 2778000 | 827948 |
| CGN Power Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 14711000 | 6007517 |
| Changchun High-Tech Industry Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 51400 | 675001 |
| China Aoyuan Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1687000 | 28070 |
| China Baoan Group Co. Ltd., Class A | &nbsp;&nbsp; 371800 | 434032 |
| China BlueChemical Ltd., Class H | &nbsp;&nbsp; 4530000 | 1130637 |
| China CITIC Bank Corp. Ltd., Class H | &nbsp;&nbsp; 10651000 | 6373881 |
| China Coal Energy Co. Ltd., Class H | &nbsp;&nbsp; 2502000 | 2534805 |
| China Communications Services Corp. Ltd., <br> Class H<br>| &nbsp;&nbsp; 3108000 | 1596742 |
| China Conch Venture Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2363000 | 2065028 |
| China Construction Bank Corp., Class A | &nbsp;&nbsp; 1215600 | 1252416 |
| China Construction Bank Corp., Class H | &nbsp;&nbsp; 115282000 | 80499780 |
| China CSSC Holdings Ltd., Class A | &nbsp;&nbsp; 578700 | 3286027 |
| China Datang Corp. Renewable Power Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 2644000 | 703611 |
| China East Education Holdings Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 954000 | 302300 |
| China Eastern Airlines Corp. Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 3151393 | 1740613 |
| China Education Group Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1390000 | 719876 |
| China Energy Engineering Corp. Ltd. | &nbsp;&nbsp; 5992600 | 1833334 |
| China Everbright Bank Co. Ltd., Class A | &nbsp;&nbsp; 5253100 | 2297468 |
| China Everbright Bank Co. Ltd., Class H | &nbsp;&nbsp; 3268000 | 986707 |
| China Everbright Environment Group Ltd. | &nbsp;&nbsp; 4548629 | 2054837 |
| China Everbright Ltd. | &nbsp;&nbsp; 1114000 | 556791 |
| China Feihe Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 4486000 | 2031668 |
| China Galaxy Securities Co. Ltd., Class A | &nbsp;&nbsp; 423700 | 638347 |
| China Galaxy Securities Co. Ltd., Class H | &nbsp;&nbsp; 4175500 | 2137095 |
| China Gas Holdings Ltd. | &nbsp;&nbsp; 3669600 | 3337209 |
| China Hongqiao Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3231500 | 4025175 |
| China International Capital Corp. Ltd., Class A | &nbsp;&nbsp; 296800 | 1244674 |
| China International Capital Corp. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 1666000 | 1856911 |
| China Jinmao Holdings Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 5472000 | 433872 |
| China Lesso Group Holdings Ltd. | &nbsp;&nbsp; 1515000 | 601370 |
| China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp; 306300 | 1365142 |
| China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 9011000 | 12501463 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| China Literature Ltd.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 540200 | $1750468 |
| China Longyuan Power Group Corp. Ltd., Class H | &nbsp;&nbsp; 3659000 | 3280868 |
| China Medical System Holdings Ltd. | &nbsp;&nbsp; 1854000 | 1537564 |
| China Meidong Auto Holdings Ltd. | &nbsp;&nbsp; 852000 | 224713 |
| China Mengniu Dairy Co. Ltd. | &nbsp;&nbsp; 3470000 | 5806325 |
| China Merchants Bank Co. Ltd., Class A | &nbsp;&nbsp; 1675731 | 7588205 |
| China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp; 4514677 | 18712550 |
| China Merchants Port Holdings Co. Ltd. | &nbsp;&nbsp; 1576000 | 2317404 |
| China Merchants Securities Co. Ltd., Class A | &nbsp;&nbsp; 1334772 | 2749893 |
| China Merchants Shekou Industrial Zone Holdings <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 852382 | 1037739 |
| China Metal Recycling Holdings Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 3000 |  |
| China Minsheng Banking Corp. Ltd., Class A | &nbsp;&nbsp; 2541099 | 1249452 |
| China Minsheng Banking Corp. Ltd., Class H | &nbsp;&nbsp; 8977500 | 3181719 |
| China National Building Material Co. Ltd., Class H | &nbsp;&nbsp; 4922000 | 1631304 |
| China National Nuclear Power Co. Ltd., Class A | &nbsp;&nbsp; 2332800 | 3563640 |
| China Nonferrous Mining Corp Ltd. | &nbsp;&nbsp; 2919000 | 2078917 |
| China Northern Rare Earth Group High-Tech Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 659100 | 1597495 |
| China Oilfield Services Ltd., Class H | &nbsp;&nbsp; 2112000 | 1860447 |
| China Oriental Group Co. Ltd. | &nbsp;&nbsp; 1786000 | 272000 |
| China Overseas Grand Oceans Group Ltd. | &nbsp;&nbsp; 2132000 | 438462 |
| China Overseas Land & Investment Ltd. | &nbsp;&nbsp; 4277000 | 6914348 |
| China Overseas Property Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2010000 | 1207587 |
| China Pacific Insurance Group Co. Ltd., Class A | &nbsp;&nbsp; 372788 | 1525524 |
| China Pacific Insurance Group Co. Ltd., Class H | &nbsp;&nbsp; 3332600 | 8858103 |
| China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp; 3175148 | 2851012 |
| China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp; 28786200 | 18448606 |
| China Power International Development Ltd. | &nbsp;&nbsp; 6707000 | 3157032 |
| China Railway Group Ltd., Class A | &nbsp;&nbsp; 1358086 | 1169761 |
| China Railway Group Ltd., Class H | &nbsp;&nbsp; 5707000 | 2783084 |
| China Renewable Energy Investment Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 4386 |  |
| China Resources Beer Holdings Co. Ltd. | &nbsp;&nbsp; 1920500 | 5974529 |
| China Resources Building Materials Technology <br> Holdings Ltd.<br>| &nbsp;&nbsp; 2872000 | 660561 |
| China Resources Gas Group Ltd. | &nbsp;&nbsp; 1096000 | 3719581 |
| China Resources Land Ltd. | &nbsp;&nbsp; 3828166 | 11442734 |
| China Resources Medical Holdings Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2359500 | 967200 |
| China Resources Mixc Lifestyle Services Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 777400 | 2179212 |
| China Resources Pharmaceutical Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1673500 | 1144302 |
| China Resources Power Holdings Co. Ltd. | &nbsp;&nbsp; 2170000 | 5969309 |
| China Ruyi Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 10491600 | 2804577 |
| China Shenhua Energy Co. Ltd., Class A | &nbsp;&nbsp; 596300 | 3281341 |
| China Shenhua Energy Co. Ltd., Class H | &nbsp;&nbsp; 3986500 | 16576306 |
| China Shineway Pharmaceutical Group Ltd. | &nbsp;&nbsp; 859000 | 884843 |
| China Southern Airlines Co. Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 2067000 | 1694848 |
| China State Construction Engineering Corp. Ltd., <br> Class A<br>| &nbsp;&nbsp; 3067480 | 2370525 |
| China State Construction International <br> Holdings Ltd.<br>| &nbsp;&nbsp; 2108000 | 2946346 |
| China Taiping Insurance Holdings Co. Ltd. | &nbsp;&nbsp; 1653568 | 1760454 |
| China Three Gorges Renewables Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 3819800 | 2570142 |
| China Tourism Group Duty Free Corp. Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 131000 | 925582 |
| China Tourism Group Duty Free Corp. Ltd., <br> Class A<br>| &nbsp;&nbsp; 168192 | 1598714 |
| China Tower Corp. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 51174000 | 6278973 |
| China Traditional Chinese Medicine Holdings <br> Co. Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp; 4054000 | 1712333 |
| China Travel International Investment Hong <br> Kong Ltd.<sup>(a)</sup><br>| &nbsp;&nbsp; 4846000 | 682712 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| China United Network Communications Ltd., <br> Class A<br>| &nbsp;&nbsp; 2411800 | $1569990 |
| China Vanke Co. Ltd., Class A | &nbsp;&nbsp; 664092 | 652076 |
| China Vanke Co. Ltd., Class H<sup>(a)(b)</sup> | &nbsp;&nbsp; 2636500 | 1445728 |
| China Water Affairs Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1792000 | 1163995 |
| China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp; 1978438 | 8177423 |
| Chinasoft International Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2988000 | 1456063 |
| Chongqing Changan Automobile Co. Ltd., Class A | &nbsp;&nbsp; 832700 | 1683155 |
| Chongqing Zhifei Biological Products Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 246900 | 968890 |
| Chow Tai Fook Jewellery Group Ltd. | &nbsp;&nbsp; 2592800 | 2354728 |
| CIMC Enric Holdings Ltd. | &nbsp;&nbsp; 952000 | 885881 |
| CITIC Ltd. | &nbsp;&nbsp; 6964000 | 6420581 |
| CITIC Securities Co. Ltd., Class A | &nbsp;&nbsp; 877625 | 2404889 |
| CITIC Securities Co. Ltd., Class H | &nbsp;&nbsp; 2719925 | 4090507 |
| CMOC Group Ltd., Class A | &nbsp;&nbsp; 1233200 | 1279848 |
| CMOC Group Ltd., Class H | &nbsp;&nbsp; 4962000 | 3957487 |
| COFCO Joycome Foods Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3950000 | 799437 |
| Contemporary Amperex Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 321398 | 8283846 |
| COSCO Shipping Energy Transportation Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 1944000 | 2333940 |
| COSCO Shipping Holdings Co. Ltd., Class A | &nbsp;&nbsp; 997199 | 1817240 |
| COSCO Shipping Holdings Co. Ltd., Class H | &nbsp;&nbsp; 3772300 | 5387266 |
| COSCO Shipping Ports Ltd. | &nbsp;&nbsp; 2922000 | 1736990 |
| Country Garden Holdings Co. Ltd.<sup>(a)(b)(d)</sup> | &nbsp;&nbsp; 9237000 | 283748 |
| Country Garden Services Holdings Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2447000 | 1472384 |
| CRRC Corp. Ltd., Class A | &nbsp;&nbsp; 2825400 | 2986028 |
| CRRC Corp. Ltd., Class H | &nbsp;&nbsp; 4924000 | 3051118 |
| CSC Financial Co. Ltd., Class A | &nbsp;&nbsp; 639000 | 1759190 |
| CSPC Pharmaceutical Group Ltd. | &nbsp;&nbsp; 11209440 | 8338094 |
| Dada Nexus Ltd., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 97894 | 129220 |
| Daqin Railway Co. Ltd., Class A | &nbsp;&nbsp; 1543200 | 1488878 |
| Daqo New Energy Corp., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 69879 | 1224979 |
| Digital China Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1665000 | 679853 |
| Dongyue Group Ltd. | &nbsp;&nbsp; 2149000 | 1872366 |
| East Buy Holding Ltd.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 609000 | 845783 |
| East Money Information Co. Ltd., Class A | &nbsp;&nbsp; 1505116 | 2321013 |
| ENN Energy Holdings Ltd. | &nbsp;&nbsp; 948400 | 6636201 |
| Eoptolink Technology Inc. Ltd. | &nbsp;&nbsp; 62200 | 870841 |
| Eve Energy Co. Ltd., Class A | &nbsp;&nbsp; 215943 | 1148888 |
| Far East Horizon Ltd. | &nbsp;&nbsp; 2176000 | 1484488 |
| FIH Mobile Ltd. <sup>(a)(b)</sup> | &nbsp;&nbsp; 9574000 | 972044 |
| Flat Glass Group Co. Ltd., Class H | &nbsp;&nbsp; 743000 | 1078254 |
| Focus Media Information Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 2346900 | 1882827 |
| Foshan Haitian Flavouring & Food Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 366002 | 1780817 |
| Fosun International Ltd. | &nbsp;&nbsp; 3012000 | 1569105 |
| Founder Securities Co. Ltd., Class A | &nbsp;&nbsp; 1209600 | 1299863 |
| Foxconn Industrial Internet Co. Ltd., Class A | &nbsp;&nbsp; 1048400 | 3523406 |
| Fu Shou Yuan International Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2319000 | 1454759 |
| Fufeng Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1925000 | 1137124 |
| Fuyao Glass Industry Group Co. Ltd., Class A | &nbsp;&nbsp; 174500 | 1087198 |
| Fuyao Glass Industry Group Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 728000 | 3801737 |
| Ganfeng Lithium Group Co. Ltd., Class A | &nbsp;&nbsp; 233980 | 912131 |
| Ganfeng Lithium Group Co. Ltd., Class H<sup>(a)(c)</sup> | &nbsp;&nbsp; 471840 | 990806 |
| GCL Technology Holdings Ltd. | &nbsp;&nbsp; 24264000 | 3413898 |
| GD Power Development Co. Ltd., Class A | &nbsp;&nbsp; 2412400 | 1856643 |
| GDS Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1583188 | 2206088 |
| Geely Automobile Holdings Ltd. | &nbsp;&nbsp; 7064000 | 7177427 |
| Genertec Universal Medical Group Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 2245000 | 1259222 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Genscript Biotech Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1694000 | $2698896 |
| GF Securities Co. Ltd., Class A | &nbsp;&nbsp; 508000 | 883605 |
| GF Securities Co. Ltd., Class H<sup>(a)</sup> | &nbsp;&nbsp; 1496600 | 1286590 |
| Giant Biogene Holding Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 465800 | 2414577 |
| GigaDevice Semiconductor Inc., Class A<sup>(b)</sup> | &nbsp;&nbsp; 105580 | 1259615 |
| GoerTek Inc., Class A | &nbsp;&nbsp; 416900 | 1245052 |
| Goldwind Science & Technology Co Ltd., Class A | &nbsp;&nbsp; 614400 | 681407 |
| Great Wall Motor Co. Ltd., Class H | &nbsp;&nbsp; 3284500 | 4484584 |
| Gree Electric Appliances Inc. of Zhuhai, Class A | &nbsp;&nbsp; 332800 | 1843840 |
| Greentown China Holdings Ltd. | &nbsp;&nbsp; 1272500 | 962987 |
| Greentown Service Group Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1724000 | 754174 |
| Guangdong Haid Group Co. Ltd., Class A | &nbsp;&nbsp; 315900 | 1920946 |
| Guangdong Investment Ltd. | &nbsp;&nbsp; 4368000 | 2290614 |
| Guangzhou Automobile Group Co. Ltd., Class H | &nbsp;&nbsp; 3195600 | 1178619 |
| Guangzhou Tinci Materials Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 321000 | 699302 |
| Guotai Junan Securities Co. Ltd., Class A | &nbsp;&nbsp; 1198294 | 2384639 |
| Gushengtang Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 289600 | 1301057 |
| H World Group Ltd., ADR | &nbsp;&nbsp; 273038 | 8191140 |
| Haichang Ocean Park Holdings Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 3766000 | 342239 |
| Haidilao International Holding Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1887000 | 3060597 |
| Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp; 720900 | 2723806 |
| Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp; 2767600 | 9048433 |
| Haitian International Holdings Ltd. | &nbsp;&nbsp; 809000 | 2347135 |
| Haitong Securities Co. Ltd., Class A | &nbsp;&nbsp; 1453951 | 1826943 |
| Haitong Securities Co. Ltd., Class H | &nbsp;&nbsp; 3038000 | 1404651 |
| Hangzhou First Applied Material Co. Ltd., Class A | &nbsp;&nbsp; 284984 | 613367 |
| Hangzhou Tigermed Consulting Co. Ltd., Class A | &nbsp;&nbsp; 43900 | 325666 |
| Hansoh Pharmaceutical Group Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1362000 | 2979205 |
| Harbin Electric Co. Ltd., Class H | &nbsp;&nbsp; 1504000 | 486187 |
| Hello Group Inc., ADR | &nbsp;&nbsp; 213981 | 1444372 |
| Henan Shuanghui Investment & Development Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 578841 | 1848464 |
| Hengan International Group Co. Ltd. | &nbsp;&nbsp; 567500 | 1772789 |
| Hengli Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 1092400 | 2113699 |
| Hisense Home Appliances Group Co. Ltd. | &nbsp;&nbsp; 201400 | 829653 |
| Hisense Home Appliances Group Co. Ltd., <br> Class H<sup>(a)</sup><br>| &nbsp;&nbsp; 331136 | 1070534 |
| Hithink RoyalFlush Information Network Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 66500 | 984130 |
| Hopson Development Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1327952 | 509055 |
| Hua Hong Semiconductor Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1035000 | 2744393 |
| Huabao International Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1022000 | 304788 |
| Huadong Medicine Co. Ltd., Class A | &nbsp;&nbsp; 222700 | 899541 |
| Hualan Biological Engineering Inc., Class A | &nbsp;&nbsp; 325600 | 743272 |
| Huaneng Power International Inc., Class H | &nbsp;&nbsp; 5746000 | 3414630 |
| Huatai Securities Co. Ltd., Class A | &nbsp;&nbsp; 902700 | 1661461 |
| Huatai Securities Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 1708000 | 1889700 |
| Huaxia Bank Co. Ltd., Class A | &nbsp;&nbsp; 1528731 | 1328717 |
| Hundsun Technologies Inc., Class A | &nbsp;&nbsp; 320648 | 813387 |
| HUTCHMED China Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 796345 | 3079567 |
| HUYA Inc., ADR | &nbsp;&nbsp; 160923 | 685532 |
| Hygeia Healthcare Holdings Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 643600 | 1734038 |
| Hygon Information Technology Co. Ltd., NVS | &nbsp;&nbsp; 228379 | 2516706 |
| IEIT Systems Co. Ltd., Class A | &nbsp;&nbsp; 214800 | 1118133 |
| Iflytek Co. Ltd., Class A | &nbsp;&nbsp; 292800 | 1615330 |
| Imeik Technology Development Co. Ltd., Class A | &nbsp;&nbsp; 48720 | 1186024 |
| Industrial & Commercial Bank of China Ltd., <br> Class A<br>| &nbsp;&nbsp; 5887641 | 4768108 |
| Industrial & Commercial Bank of China Ltd., <br> Class H<br>| &nbsp;&nbsp; 78326000 | 43391181 |
| Industrial Bank Co. Ltd., Class A | &nbsp;&nbsp; 1663198 | 3856562 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| INESA Intelligent Tech Inc., Class B | &nbsp;&nbsp; 246730 | $126021 |
| Inner Mongolia BaoTou Steel Union Co. Ltd., <br> Class A<sup>(b)</sup><br>| &nbsp;&nbsp; 8631400 | 1745944 |
| Inner Mongolia Yili Industrial Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 676300 | 2350249 |
| Inner Mongolia Yitai Coal Co. Ltd., Class B | &nbsp;&nbsp; 1639584 | 2972566 |
| Innovent Biologics Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 1527000 | 7559141 |
| iQIYI Inc., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 613658 | 2043481 |
| JA Solar Technology Co. Ltd., Class A | &nbsp;&nbsp; 358876 | 536672 |
| JD Health International Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 1343550 | 3729085 |
| JD Logistics Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 2288900 | 2354162 |
| JD.com Inc. | &nbsp;&nbsp; 2812690 | 37086998 |
| Jiangsu Eastern Shenghong Co. Ltd., Class A | &nbsp;&nbsp; 902607 | 991796 |
| Jiangsu Expressway Co. Ltd., Class H | &nbsp;&nbsp; 1474000 | 1401770 |
| Jiangsu Hengli Hydraulic Co. Ltd., Class A | &nbsp;&nbsp; 191996 | 1217211 |
| Jiangsu Hengrui Pharmaceuticals Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 554859 | 3240905 |
| Jiangsu King's Luck Brewery JSC Ltd., Class A | &nbsp;&nbsp; 171200 | 1047118 |
| Jiangsu Yanghe Distillery Co. Ltd., Class A | &nbsp;&nbsp; 145500 | 1647757 |
| Jiangxi Copper Co. Ltd., Class A | &nbsp;&nbsp; 232700 | 692646 |
| Jiangxi Copper Co. Ltd., Class H | &nbsp;&nbsp; 1142000 | 2007567 |
| JinkoSolar Holding Co. Ltd., ADR | &nbsp;&nbsp; 59406 | 1233269 |
| Jinxin Fertility Group Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 2334500 | 752609 |
| Jiumaojiu International Holdings Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 1043000 | 386999 |
| JOYY Inc., ADR | &nbsp;&nbsp; 71180 | 2369582 |
| Kanzhun Ltd., ADR | &nbsp;&nbsp; 349522 | 4746509 |
| KE Holdings Inc., ADR | &nbsp;&nbsp; 800186 | 11082576 |
| Keymed Biosciences Inc.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 262000 | 1056104 |
| Kingboard Holdings Ltd. | &nbsp;&nbsp; 829000 | 1690834 |
| Kingboard Laminates Holdings Ltd. | &nbsp;&nbsp; 1595000 | 1434256 |
| Kingdee International Software Group Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3046000 | 2440975 |
| Kingsoft Cloud Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1832730 | 333005 |
| Kingsoft Corp. Ltd. | &nbsp;&nbsp; 1115600 | 3160094 |
| Kuaishou Technology<sup>(b)(c)</sup> | &nbsp;&nbsp; 2890100 | 16186566 |
| Kunlun Energy Co. Ltd. | &nbsp;&nbsp; 4178000 | 4050121 |
| Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp; 92530 | 18198122 |
| Lee & Man Paper Manufacturing Ltd. | &nbsp;&nbsp; 1583000 | 489801 |
| Legend Biotech Corp., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 89377 | 5039969 |
| Lenovo Group Ltd. | &nbsp;&nbsp; 9724000 | 12594621 |
| Lepu Medical Technology Beijing Co. Ltd., Class A | &nbsp;&nbsp; 337700 | 613295 |
| Li Auto Inc.<sup>(b)</sup> | &nbsp;&nbsp; 1506618 | 14738055 |
| Li Ning Co. Ltd. | &nbsp;&nbsp; 2845000 | 5299134 |
| Lifetech Scientific Corp. <sup>(a)(b)</sup> | &nbsp;&nbsp; 6158000 | 1150368 |
| Lingyi iTech Guangdong Co., Class A | &nbsp;&nbsp; 1229500 | 1229197 |
| LK Technology Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 810000 | 298669 |
| Longfor Group Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 2100000 | 2728127 |
| LONGi Green Energy Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 645360 | 1297367 |
| Lonking Holdings Ltd. | &nbsp;&nbsp; 3625000 | 712890 |
| Lufax Holding Ltd., ADR | &nbsp;&nbsp; 228559 | 649108 |
| Luxshare Precision Industry Co. Ltd., Class A | &nbsp;&nbsp; 705031 | 3745989 |
| Luye Pharma Group Ltd. <sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 2863000 | 1022107 |
| Luzhou Laojiao Co. Ltd., Class A | &nbsp;&nbsp; 116900 | 2115573 |
| Mango Excellent Media Co. Ltd., Class A | &nbsp;&nbsp; 241897 | 689745 |
| Maoyan Entertainment<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 1036600 | 1063814 |
| Meitu Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 4510000 | 1462401 |
| Meituan, Class B<sup>(b)(c)</sup> | &nbsp;&nbsp; 6165590 | 85372815 |
| MH Development Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 264000 |  |
| Microport Scientific Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1753000 | 1200075 |
| Midea Group Co. Ltd., Class A | &nbsp;&nbsp; 324800 | 2865658 |
| Ming Yuan Cloud Group Holdings Ltd. | &nbsp;&nbsp; 1126000 | 260488 |
| MINISO Group Holding Ltd. | &nbsp;&nbsp; 596592 | 2493983 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Minth Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1060000 | $1487356 |
| MMG Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 6549200 | 2032757 |
| Montage Technology Co. Ltd., Class A | &nbsp;&nbsp; 172600 | 1425442 |
| Muyuan Foods Co. Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 490410 | 2968654 |
| NARI Technology Co. Ltd., Class A | &nbsp;&nbsp; 926933 | 3080908 |
| NAURA Technology Group Co. Ltd., Class A | &nbsp;&nbsp; 60100 | 2854235 |
| NetDragon Websoft Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 629000 | 882774 |
| NetEase Inc. | &nbsp;&nbsp; 2361525 | 43554972 |
| New China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp; 299501 | 1325393 |
| New China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 675900 | 1318266 |
| New Hope Liuhe Co. Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 820000 | 1075518 |
| New Horizon Health Ltd.<sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp; 605000 | 985457 |
| New Oriental Education & Technology <br> Group Inc.<sup>(b)</sup><br>| &nbsp;&nbsp; 1810750 | 11720337 |
| Nexteer Automotive Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1630000 | 707290 |
| Nine Dragons Paper Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1749000 | 682627 |
| Ningbo Tuopu Group Co. Ltd., Class A | &nbsp;&nbsp; 290870 | 1478296 |
| Ningxia Baofeng Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 1231900 | 2561547 |
| NIO Inc., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 1751829 | 7778121 |
| Noah Holdings Ltd., ADR | &nbsp;&nbsp; 60142 | 466100 |
| Nongfu Spring Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 2476000 | 9618412 |
| Orient Overseas International Ltd. | &nbsp;&nbsp; 213000 | 2999675 |
| PDD Holdings Inc., ADR<sup>(b)</sup> | &nbsp;&nbsp; 729455 | 94019455 |
| People's Insurance Co. Group of China Ltd. (The), <br> Class H<br>| &nbsp;&nbsp; 15219000 | 5120619 |
| PetroChina Co. Ltd., Class A | &nbsp;&nbsp; 1651400 | 2047398 |
| PetroChina Co. Ltd., Class H | &nbsp;&nbsp; 25214000 | 21895183 |
| PICC Property & Casualty Co. Ltd., Class H | &nbsp;&nbsp; 8176520 | 10722027 |
| Ping An Bank Co. Ltd., Class A | &nbsp;&nbsp; 1505300 | 2141941 |
| Ping An Healthcare and Technology Co. Ltd.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 712300 | 1038272 |
| Ping An Insurance Group Co. of China Ltd., <br> Class A<br>| &nbsp;&nbsp; 676063 | 3984896 |
| Ping An Insurance Group Co. of China Ltd., <br> Class H<br>| &nbsp;&nbsp; 8308500 | 36080648 |
| Poly Developments and Holdings Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 940236 | 1147538 |
| Poly Property Group Co. Ltd. | &nbsp;&nbsp; 3035000 | 563667 |
| Pop Mart International Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 729400 | 3869859 |
| Postal Savings Bank of China Co. Ltd., Class A | &nbsp;&nbsp; 2046500 | 1368078 |
| Postal Savings Bank of China Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 10183000 | 5445213 |
| Power Construction Corp. of China Ltd., Class A | &nbsp;&nbsp; 1419000 | 1080613 |
| Q Technology Group Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1219000 | 680561 |
| Qifu Technology Inc. | &nbsp;&nbsp; 167742 | 3406840 |
| Qinghai Salt Lake Industry Co. Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 1156400 | 2489479 |
| Redco Properties Group Ltd.<sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp; 2164000 | 132618 |
| RLX Technology Inc., ADR | &nbsp;&nbsp; 706198 | 1264094 |
| Rongsheng Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 1133000 | 1423188 |
| SAIC Motor Corp. Ltd., Class A | &nbsp;&nbsp; 1219352 | 2477624 |
| Sailun Group Co. Ltd., Class A | &nbsp;&nbsp; 558700 | 1020510 |
| Sangfor Technologies Inc., Class A | &nbsp;&nbsp; 72100 | 493348 |
| Sany Heavy Equipment International Holdings <br> Co. Ltd.<sup>(a)</sup><br>| &nbsp;&nbsp; 2174000 | 1304019 |
| Sany Heavy Industry Co. Ltd., Class A | &nbsp;&nbsp; 977000 | 2183834 |
| SDIC Power Holdings Co. Ltd., Class A | &nbsp;&nbsp; 1077700 | 2534519 |
| Seazen Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2498000 | 447191 |
| Seres Group Co. Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 172800 | 1908745 |
| SF Holding Co. Ltd., Class A | &nbsp;&nbsp; 453200 | 2199613 |
| Shaanxi Coal Industry Co. Ltd., Class A | &nbsp;&nbsp; 872800 | 2824127 |
| Shandong Gold Mining Co. Ltd., Class A | &nbsp;&nbsp; 569028 | 2329000 |
| Shandong Gold Mining Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 854000 | 1769468 |
| Shandong Weigao Group Medical Polymer Co. <br> Ltd., Class H<br>| &nbsp;&nbsp; 2796800 | 1419181 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Shanghai Baosight Software Co. Ltd., Class A | &nbsp;&nbsp; 384624 | $1711693 |
| Shanghai Baosight Software Co. Ltd., Class B | &nbsp;&nbsp; 867244 | 1419133 |
| Shanghai Industrial Holdings Ltd. | &nbsp;&nbsp; 668000 | 996530 |
| Shanghai Pharmaceuticals Holding Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 1359800 | 2039039 |
| Shanghai Pudong Development Bank Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 2535699 | 2950036 |
| Shanghai United Imaging Healthcare Co. <br> Ltd., NVS<br>| &nbsp;&nbsp; 83967 | 1351034 |
| Shanghai Waigaoqiao Free Trade Zone Group <br> Co. Ltd.<br>| &nbsp;&nbsp; 164510 | 118283 |
| Shanxi Coking Coal Energy Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 787000 | 902463 |
| Shanxi Lu'an Environmental Energy Development <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 391900 | 844336 |
| Shanxi Meijin Energy Co. Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 709500 | 432794 |
| Shanxi Xinghuacun Fen Wine Factory Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 93440 | 2384090 |
| Shede Spirits Co. Ltd. | &nbsp;&nbsp; 59300 | 450426 |
| Shengyi Technology Co. Ltd., Class A | &nbsp;&nbsp; 439800 | 1190428 |
| Shennan Circuits Co. Ltd., Class A | &nbsp;&nbsp; 91300 | 1402153 |
| Shenwan Hongyuan Group Co. Ltd., Class A | &nbsp;&nbsp; 4151333 | 2633145 |
| Shenzhen Inovance Technology Co. Ltd., Class A | &nbsp;&nbsp; 238250 | 1537264 |
| Shenzhen International Holdings Ltd. | &nbsp;&nbsp; 1879000 | 1505538 |
| Shenzhen Investment Ltd. | &nbsp;&nbsp; 7978000 | 960478 |
| Shenzhen Kangtai Biological Products Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 198860 | 439160 |
| Shenzhen Mindray Bio-Medical Electronics Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 93800 | 3341393 |
| Shenzhen Transsion Holdings Co. Ltd., Class A | &nbsp;&nbsp; 139329 | 1561146 |
| Shenzhou International Group Holdings Ltd. | &nbsp;&nbsp; 1049800 | 8887062 |
| Shougang Fushan Resources Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 5848000 | 2056178 |
| Shui On Land Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 11105500 | 938151 |
| Sichuan Chuantou Energy Co. Ltd., Class A | &nbsp;&nbsp; 637759 | 1653479 |
| Sichuan Road & Bridge Group Co. Ltd., Class A | &nbsp;&nbsp; 1329800 | 1159661 |
| Sihuan Pharmaceutical Holdings Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 7525000 | 510852 |
| Sino Biopharmaceutical Ltd. | &nbsp;&nbsp; 11931000 | 4278447 |
| Sinofert Holdings Ltd. | &nbsp;&nbsp; 6252000 | 776214 |
| Sinopec Engineering Group Co. Ltd., Class H | &nbsp;&nbsp; 2518000 | 1605002 |
| Sinopec Kantons Holdings Ltd. | &nbsp;&nbsp; 2400000 | 1304500 |
| Sinopharm Group Co. Ltd., Class H | &nbsp;&nbsp; 1775600 | 4164746 |
| Sinotruk Hong Kong Ltd. | &nbsp;&nbsp; 906000 | 2383036 |
| Skyworth Group Ltd. | &nbsp;&nbsp; 2624000 | 951903 |
| Smoore International Holdings Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 2317000 | 2705275 |
| SOHO China Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3679000 | 320317 |
| SooChow Securities Co. Ltd., Class A | &nbsp;&nbsp; 913764 | 804183 |
| SSY Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2424000 | 1208723 |
| Sunac China Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 6579000 | 891099 |
| Sunac Services Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1560000 | 349125 |
| Sungrow Power Supply Co. Ltd., Class A | &nbsp;&nbsp; 209160 | 1997196 |
| Sunny Optical Technology Group Co. Ltd. | &nbsp;&nbsp; 920300 | 5161138 |
| Suzhou TFC Optical Communication Co. Ltd. | &nbsp;&nbsp; 45700 | 640498 |
| TAL Education Group, ADR<sup>(b)</sup> | &nbsp;&nbsp; 537054 | 5381281 |
| TCL Technology Group Corp., Class A | &nbsp;&nbsp; 3334760 | 1810614 |
| TCL Zhonghuan Renewable Energy Technology <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 537875 | 651170 |
| Tencent Holdings Ltd. | &nbsp;&nbsp; 8040700 | 371049798 |
| Tencent Music Entertainment Group, ADR | &nbsp;&nbsp; 953886 | 13526103 |
| Tianneng Power International Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1432000 | 967510 |
| Tianqi Lithium Corp., Class A | &nbsp;&nbsp; 195000 | 792534 |
| Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp; 2012000 | 2453221 |
| Tong Ren Tang Technologies Co. Ltd., Class H | &nbsp;&nbsp; 1590000 | 1018666 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Tongcheng Travel Holdings Ltd. | &nbsp;&nbsp; 1569200 | $2732059 |
| Tongwei Co. Ltd., Class A | &nbsp;&nbsp; 420400 | 1055622 |
| Topsports International Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1969000 | 877031 |
| Towngas Smart Energy Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2091000 | 748990 |
| TravelSky Technology Ltd., Class H | &nbsp;&nbsp; 1265000 | 1426076 |
| Trina Solar Co. Ltd. | &nbsp;&nbsp; 182178 | 440097 |
| Trip.com Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 664938 | 28387323 |
| Tsingtao Brewery Co. Ltd., Class H | &nbsp;&nbsp; 784000 | 5008659 |
| Unigroup Guoxin Microelectronics Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 135517 | 1012382 |
| Unisplendour Corp. Ltd., Class A | &nbsp;&nbsp; 322840 | 1041270 |
| Untradelumena Newmat, NVS<sup>(d)</sup> | &nbsp;&nbsp; 3800 |  |
| Venus MedTech Hangzhou Inc., Class H<sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp; 587500 | 347470 |
| Vipshop Holdings Ltd., ADR | &nbsp;&nbsp; 482389 | 6579786 |
| Vnet Group Inc., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 121075 | 250625 |
| Walvax Biotechnology Co. Ltd., Class A | &nbsp;&nbsp; 285800 | 458199 |
| Wanhua Chemical Group Co. Ltd., Class A | &nbsp;&nbsp; 271687 | 2917262 |
| Want Want China Holdings Ltd. | &nbsp;&nbsp; 5771000 | 3464292 |
| Weibo Corp., ADR | &nbsp;&nbsp; 117468 | 906853 |
| Weichai Power Co. Ltd., Class A | &nbsp;&nbsp; 825200 | 1579206 |
| Weichai Power Co. Ltd., Class H | &nbsp;&nbsp; 2213000 | 3541788 |
| Weimob Inc.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 2825000 | 440822 |
| Wens Foodstuffs Group Co. Ltd., Class A | &nbsp;&nbsp; 862257 | 2379941 |
| West China Cement Ltd. | &nbsp;&nbsp; 5004000 | 660254 |
| Will Semiconductor Co. Ltd. Shanghai, Class A | &nbsp;&nbsp; 145830 | 2081202 |
| Wingtech Technology Co. Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 201600 | 836109 |
| Wuliangye Yibin Co. Ltd., Class A | &nbsp;&nbsp; 283374 | 4980557 |
| WuXi AppTec Co. Ltd., Class A | &nbsp;&nbsp; 264361 | 1555003 |
| WuXi AppTec Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 415250 | 1698667 |
| Wuxi Biologics Cayman Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 4647000 | 6796958 |
| XCMG Construction Machinery Co. Ltd., Class A | &nbsp;&nbsp; 1639300 | 1488143 |
| XD Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 598800 | 1758300 |
| Xiaomi Corp., Class B<sup>(b)(c)</sup> | &nbsp;&nbsp; 18571000 | 39887347 |
| Xinyi Solar Holdings Ltd. | &nbsp;&nbsp; 6173600 | 2929239 |
| XPeng Inc.<sup>(b)</sup> | &nbsp;&nbsp; 1523306 | 6157256 |
| Xtep International Holdings Ltd. | &nbsp;&nbsp; 1731000 | 1041070 |
| Yadea Group Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1728000 | 2328811 |
| Yankuang Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 330525 | 686278 |
| Yankuang Energy Group Co. Ltd., Class H | &nbsp;&nbsp; 3584100 | 4678363 |
| Yeahka Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 344400 | 484732 |
| Yihai International Holding Ltd. | &nbsp;&nbsp; 602000 | 901767 |
| Yonyou Network Technology Co. Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 467000 | 619668 |
| Yuexiu Property Co. Ltd. | &nbsp;&nbsp; 2055616 | 1313801 |
| Yuexiu REIT | &nbsp;&nbsp; 3430448 | 430065 |
| Yuexiu Transport Infrastructure Ltd. | &nbsp;&nbsp; 1722000 | 824387 |
| Yum China Holdings Inc. | &nbsp;&nbsp; 486520 | 14712365 |
| Yunnan Baiyao Group Co. Ltd., Class A | &nbsp;&nbsp; 348832 | 2439659 |
| Yunnan Energy New Material Co. Ltd., Class A | &nbsp;&nbsp; 187400 | 800094 |
| Zai Lab Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1478220 | 2798493 |
| Zangge Mining Co. Ltd. | &nbsp;&nbsp; 250900 | 799751 |
| Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 81100 | 2387694 |
| Zhaojin Mining Industry Co. Ltd., Class H<sup>(a)</sup> | &nbsp;&nbsp; 1827500 | 3276379 |
| Zhejiang Century Huatong Group Co. Ltd., <br> Class A<sup>(b)</sup><br>| &nbsp;&nbsp; 1348158 | 612421 |
| Zhejiang Expressway Co. Ltd., Class H | &nbsp;&nbsp; 3400320 | 2231349 |
| Zhejiang Huayou Cobalt Co. Ltd., Class A | &nbsp;&nbsp; 235840 | 767242 |
| Zhejiang Jingsheng Mechanical & Electrical Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 278200 | 1151665 |
| Zhejiang Juhua Co. Ltd., Class A | &nbsp;&nbsp; 304600 | 834601 |
| Zhejiang Leapmotor Technology Co. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 716800 | 2289343 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| ZhongAn Online P&C Insurance Co. Ltd., <br> Class H<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 804700 | $1373981 |
| Zhongji Innolight Co. Ltd., Class A | &nbsp;&nbsp; 94640 | 1723785 |
| Zhongsheng Group Holdings Ltd. | &nbsp;&nbsp; 960500 | 1498625 |
| Zhuzhou CRRC Times Electric Co. Ltd. | &nbsp;&nbsp; 691100 | 2550522 |
| Zijin Mining Group Co. Ltd., Class A | &nbsp;&nbsp; 2186500 | 5045060 |
| Zijin Mining Group Co. Ltd., Class H | &nbsp;&nbsp; 6426000 | 13034274 |
| Zoomlion Heavy Industry Science and Technology <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 1313900 | 1224685 |
| ZTE Corp., Class A | &nbsp;&nbsp; 269000 | 1024718 |
| ZTE Corp., Class H | &nbsp;&nbsp; 748640 | 1677011 |
| ZTO Express Cayman Inc., ADR | &nbsp;&nbsp; 534796 | 10134384 |
|  |  | 2372896468 |
| **Colombia — 0.0%** | **Colombia — 0.0%** | **Colombia — 0.0%** |
| Bancolombia SA | &nbsp;&nbsp; 278259 | 2508518 |
| Interconexion Electrica SA ESP | &nbsp;&nbsp; 581956 | 2514001 |
|  |  | 5022519 |
| **Czech Republic — 0.0%** | **Czech Republic — 0.0%** | **Czech Republic — 0.0%** |
| CEZ AS | &nbsp;&nbsp; 212109 | 8168076 |
| Komercni Banka AS | &nbsp;&nbsp; 110588 | 3820604 |
|  |  | 11988680 |
| **Denmark — 2.3%** | **Denmark — 2.3%** | **Denmark — 2.3%** |
| ALK-Abello A/S<sup>(b)</sup> | &nbsp;&nbsp; 189963 | 4281744 |
| Alm Brand A/S | &nbsp;&nbsp; 1580761 | 3015714 |
| Ambu A/S, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 217871 | 4424164 |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 3416 | 5549071 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 5626 | 9307306 |
| Bavarian Nordic A/S<sup>(a)(b)</sup> | &nbsp;&nbsp; 109335 | 2946976 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 115400 | 13935352 |
| Chemometec A/S | &nbsp;&nbsp; 25561 | 1417060 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 160808 | 20905120 |
| D/S Norden A/S | &nbsp;&nbsp; 38305 | 1656976 |
| Danske Bank A/S | &nbsp;&nbsp; 831255 | 25421843 |
| Demant A/S<sup>(b)</sup> | &nbsp;&nbsp; 118239 | 4533215 |
| DFDS A/S | &nbsp;&nbsp; 56036 | 1537009 |
| DSV A/S | &nbsp;&nbsp; 208851 | 38312591 |
| FLSmidth & Co. A/S | &nbsp;&nbsp; 62086 | 3167208 |
| Genmab A/S<sup>(b)</sup> | &nbsp;&nbsp; 79209 | 22374294 |
| GN Store Nord A/S<sup>(b)</sup> | &nbsp;&nbsp; 183765 | 4828834 |
| H Lundbeck A/S | &nbsp;&nbsp; 322060 | 2014918 |
| H Lundbeck A/S, Class A | &nbsp;&nbsp; 100464 | 540397 |
| ISS A/S<sup>(a)</sup> | &nbsp;&nbsp; 175836 | 3214028 |
| Jyske Bank A/S, Registered | &nbsp;&nbsp; 57190 | 4662294 |
| Matas A/S | &nbsp;&nbsp; 101765 | 1738834 |
| Netcompany Group A/S<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 56596 | 2408828 |
| Nilfisk Holding A/S<sup>(b)</sup> | &nbsp;&nbsp; 37133 | 691893 |
| NKT A/S<sup>(b)</sup> | &nbsp;&nbsp; 66069 | 5947390 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 3974056 | 526534145 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 450125 | 28653710 |
| Orsted A/S<sup>(b)(c)</sup> | &nbsp;&nbsp; 230637 | 13746888 |
| Pandora A/S | &nbsp;&nbsp; 104844 | 16434644 |
| Per Aarsleff Holding A/S | &nbsp;&nbsp; 27225 | 1557598 |
| Ringkjoebing Landbobank A/S | &nbsp;&nbsp; 35369 | 6260101 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 10511 | 4645995 |
| Royal Unibrew A/S<sup>(b)</sup> | &nbsp;&nbsp; 62588 | 4913983 |
| Scandinavian Tobacco Group A/S, Class A<sup>(c)</sup> | &nbsp;&nbsp; 89090 | 1304941 |
| Schouw & Co. A/S | &nbsp;&nbsp; 23188 | 1913446 |
| Spar Nord Bank A/S | &nbsp;&nbsp; 124547 | 2540023 |
| Svitzer A/S, NVS<sup>(b)</sup> | &nbsp;&nbsp; 16390 | 628108 |
| Sydbank A/S | &nbsp;&nbsp; 92466 | 4985052 |
| Topdanmark A/S | &nbsp;&nbsp; 59834 | 3259224 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| TORM PLC, Class A | &nbsp;&nbsp; 63060 | $2441930 |
| Tryg A/S | &nbsp;&nbsp; 420971 | 9216782 |
| Vestas Wind Systems A/S<sup>(b)</sup> | &nbsp;&nbsp; 1244200 | 30790264 |
| Zealand Pharma A/S<sup>(b)</sup> | &nbsp;&nbsp; 80551 | 10851927 |
|  |  | 859511820 |
| **Egypt — 0.0%** | **Egypt — 0.0%** | **Egypt — 0.0%** |
| Commercial International Bank - Egypt (CIB) | &nbsp;&nbsp; 2465078 | 4228096 |
| Eastern Co. SAE | &nbsp;&nbsp; 1786720 | 822317 |
| EFG Holding S.A.E.<sup>(b)</sup> | &nbsp;&nbsp; 2596088 | 1129106 |
| Talaat Moustafa Group | &nbsp;&nbsp; 1119440 | 1296715 |
|  |  | 7476234 |
| **Finland — 0.6%** | **Finland — 0.6%** | **Finland — 0.6%** |
| Cargotec OYJ, Class B | &nbsp;&nbsp; 55628 | 2835505 |
| Citycon OYJ | &nbsp;&nbsp; 138079 | 608080 |
| Elisa OYJ | &nbsp;&nbsp; 160089 | 7453971 |
| Finnair OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 8180 | 20830 |
| Fortum OYJ | &nbsp;&nbsp; 527709 | 8114572 |
| Huhtamaki OYJ | &nbsp;&nbsp; 122509 | 4963995 |
| Kalmar OYJ<sup>(b)</sup> | &nbsp;&nbsp; 55628 | 1644757 |
| Kemira OYJ | &nbsp;&nbsp; 177626 | 4017727 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 328775 | 5947112 |
| Kojamo OYJ<sup>(b)</sup> | &nbsp;&nbsp; 266718 | 2637772 |
| Kone OYJ, Class B | &nbsp;&nbsp; 401507 | 20502785 |
| Konecranes OYJ | &nbsp;&nbsp; 76110 | 5316534 |
| Mandatum OYJ | &nbsp;&nbsp; 526309 | 2437614 |
| Metsa Board OYJ, Class B | &nbsp;&nbsp; 312192 | 2385461 |
| Metso OYJ | &nbsp;&nbsp; 761969 | 7742011 |
| Neste OYJ | &nbsp;&nbsp; 502431 | 10140478 |
| Nokia OYJ | &nbsp;&nbsp; 6415225 | 25211196 |
| Nokian Renkaat OYJ | &nbsp;&nbsp; 164429 | 1500293 |
| Nordea Bank Abp | &nbsp;&nbsp; 3782204 | 44258350 |
| Orion OYJ, Class B | &nbsp;&nbsp; 130678 | 6006373 |
| Outokumpu OYJ | &nbsp;&nbsp; 430139 | 1550869 |
| QT Group OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 29650 | 2638543 |
| Revenio Group OYJ | &nbsp;&nbsp; 45963 | 1429013 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 543071 | 23805569 |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 686209 | 8578378 |
| TietoEVRY OYJ | &nbsp;&nbsp; 98563 | 1998698 |
| Tokmanni Group Corp. | &nbsp;&nbsp; 84139 | 1029882 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 655351 | 21676399 |
| Valmet OYJ | &nbsp;&nbsp; 213341 | 6041953 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 608367 | 12571804 |
| YIT OYJ<sup>(a)</sup> | &nbsp;&nbsp; 310357 | 779213 |
|  |  | 245845737 |
| **France — 6.4%** | **France — 6.4%** | **France — 6.4%** |
| Accor SA | &nbsp;&nbsp; 225966 | 8695876 |
| Aeroports de Paris SA | &nbsp;&nbsp; 35136 | 4616390 |
| Air France-KLM, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 158931 | 1413205 |
| Air Liquide SA | &nbsp;&nbsp; 699030 | 127543945 |
| Airbus SE | &nbsp;&nbsp; 718456 | 108721495 |
| Alstom SA<sup>(b)</sup> | &nbsp;&nbsp; 413835 | 8108104 |
| Alten SA | &nbsp;&nbsp; 38182 | 4199329 |
| Amundi SA<sup>(c)</sup> | &nbsp;&nbsp; 58339 | 4257620 |
| Aperam SA | &nbsp;&nbsp; 67119 | 1823858 |
| ArcelorMittal SA | &nbsp;&nbsp; 581693 | 13245548 |
| Arkema SA | &nbsp;&nbsp; 78081 | 7046252 |
| AXA SA | &nbsp;&nbsp; 2184940 | 76712810 |
| Beneteau SACA<sup>(a)</sup> | &nbsp;&nbsp; 64517 | 628990 |
| BioMerieux | &nbsp;&nbsp; 49637 | 5238017 |
| BNP Paribas SA | &nbsp;&nbsp; 1255639 | 86028496 |
| Bollore SE | &nbsp;&nbsp; 1119225 | 6966995 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Bouygues SA | &nbsp;&nbsp; 232877 | $8040310 |
| Bureau Veritas SA | &nbsp;&nbsp; 382867 | 11979605 |
| Capgemini SE | &nbsp;&nbsp; 194933 | 38698771 |
| Carrefour SA | &nbsp;&nbsp; 703073 | 10487902 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 570804 | 48966841 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 820078 | 32465935 |
| Coface SA | &nbsp;&nbsp; 194771 | 2948745 |
| Covivio SA/France | &nbsp;&nbsp; 60682 | 3123739 |
| Credit Agricole SA | &nbsp;&nbsp; 1258734 | 19101871 |
| Danone SA | &nbsp;&nbsp; 769614 | 49998009 |
| Dassault Aviation SA | &nbsp;&nbsp; 27442 | 5525008 |
| Dassault Systemes SE | &nbsp;&nbsp; 813786 | 30849622 |
| Derichebourg SA | &nbsp;&nbsp; 184299 | 949063 |
| Edenred SE | &nbsp;&nbsp; 306376 | 12757119 |
| Eiffage SA | &nbsp;&nbsp; 85952 | 8554091 |
| Elior Group SA<sup>(b)(c)</sup> | &nbsp;&nbsp; 247016 | 857283 |
| Elis SA | &nbsp;&nbsp; 238068 | 5505403 |
| Engie SA | &nbsp;&nbsp; 2189036 | 34412000 |
| Eramet SA | &nbsp;&nbsp; 15724 | 1335582 |
| EssilorLuxottica SA | &nbsp;&nbsp; 356689 | 81624590 |
| Eurazeo SE | &nbsp;&nbsp; 50397 | 3964994 |
| Eurofins Scientific SE | &nbsp;&nbsp; 160449 | 9499202 |
| Euronext NV<sup>(c)</sup> | &nbsp;&nbsp; 104259 | 10540891 |
| Eutelsat Communications SACA<sup>(a)(b)</sup> | &nbsp;&nbsp; 200798 | 1037772 |
| Fnac Darty SA<sup>(a)</sup> | &nbsp;&nbsp; 31133 | 924044 |
| Forvia SE | &nbsp;&nbsp; 181185 | 2122209 |
| Gaztransport Et Technigaz SA | &nbsp;&nbsp; 43024 | 6339374 |
| Gecina SA | &nbsp;&nbsp; 51007 | 5056717 |
| Getlink SE | &nbsp;&nbsp; 467828 | 8336625 |
| Hermes International SCA | &nbsp;&nbsp; 38915 | 85042297 |
| ICADE | &nbsp;&nbsp; 36470 | 810579 |
| ID Logistics Group SACA<sup>(b)</sup> | &nbsp;&nbsp; 4957 | 2397031 |
| Imerys SA | &nbsp;&nbsp; 45819 | 1556786 |
| Interparfums SA | &nbsp;&nbsp; 33784 | 1716826 |
| Ipsen SA | &nbsp;&nbsp; 44497 | 4996130 |
| IPSOS SA | &nbsp;&nbsp; 62419 | 3852324 |
| JCDecaux SE<sup>(b)</sup> | &nbsp;&nbsp; 93192 | 1942821 |
| Kaufman & Broad SA | &nbsp;&nbsp; 32413 | 1108481 |
| Kering SA | &nbsp;&nbsp; 90625 | 27834358 |
| Klepierre SA | &nbsp;&nbsp; 258175 | 7392728 |
| La Francaise des Jeux SAEM<sup>(c)</sup> | &nbsp;&nbsp; 113012 | 4384722 |
| Legrand SA | &nbsp;&nbsp; 324057 | 35013358 |
| LISI SA | &nbsp;&nbsp; 19383 | 533656 |
| L'Oreal SA | &nbsp;&nbsp; 291883 | 126224056 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 335518 | 236661716 |
| Mercialys SA | &nbsp;&nbsp; 166084 | 2104444 |
| Mersen SA | &nbsp;&nbsp; 45043 | 1561303 |
| Metropole Television SA | &nbsp;&nbsp; 42807 | 558761 |
| Neoen SA<sup>(c)</sup> | &nbsp;&nbsp; 95667 | 3989121 |
| Nexans SA | &nbsp;&nbsp; 36013 | 4654542 |
| Nexity SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 79541 | 896489 |
| Opmobility | &nbsp;&nbsp; 111218 | 1166003 |
| Orange SA | &nbsp;&nbsp; 2273021 | 25224316 |
| Orpea SA, NVS<sup>(b)</sup> | &nbsp;&nbsp; 92845 | 1040184 |
| Pernod Ricard SA | &nbsp;&nbsp; 247077 | 33060664 |
| Pluxee NV, NVS<sup>(b)</sup> | &nbsp;&nbsp; 104108 | 2440276 |
| Publicis Groupe SA | &nbsp;&nbsp; 274045 | 28609321 |
| Quadient SA | &nbsp;&nbsp; 65955 | 1308342 |
| Remy Cointreau SA | &nbsp;&nbsp; 25368 | 2001679 |
| Renault SA | &nbsp;&nbsp; 228609 | 11078880 |
| Rexel SA | &nbsp;&nbsp; 311587 | 7916457 |
| Rubis SCA | &nbsp;&nbsp; 105533 | 3305232 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Safran SA | &nbsp;&nbsp; 413620 | $90869268 |
| Sanofi SA | &nbsp;&nbsp; 1380746 | 142344521 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 36387 | 7261049 |
| Schneider Electric SE | &nbsp;&nbsp; 658580 | 158740940 |
| SCOR SE | &nbsp;&nbsp; 175414 | 3754259 |
| SEB SA | &nbsp;&nbsp; 28388 | 2840727 |
| SES SA, Class A | &nbsp;&nbsp; 444024 | 2400942 |
| Societe BIC SA | &nbsp;&nbsp; 39446 | 2474906 |
| Societe Generale SA | &nbsp;&nbsp; 875976 | 22720156 |
| Sodexo SA | &nbsp;&nbsp; 104175 | 9866133 |
| SOITEC<sup>(b)</sup> | &nbsp;&nbsp; 31348 | 4041741 |
| Sopra Steria Group SACA | &nbsp;&nbsp; 19977 | 3702839 |
| SPIE SA | &nbsp;&nbsp; 150950 | 5834956 |
| STMicroelectronics NV | &nbsp;&nbsp; 828656 | 27397715 |
| Technip Energies NV | &nbsp;&nbsp; 147882 | 3767513 |
| Teleperformance SE | &nbsp;&nbsp; 67129 | 8641875 |
| Television Francaise 1 SA | &nbsp;&nbsp; 110482 | 972153 |
| Thales SA | &nbsp;&nbsp; 112793 | 17928836 |
| TotalEnergies SE | &nbsp;&nbsp; 2628142 | 177310992 |
| Trigano SA | &nbsp;&nbsp; 13138 | 1540473 |
| Ubisoft Entertainment SA<sup>(b)</sup> | &nbsp;&nbsp; 110862 | 2277485 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 149772 | 11200133 |
| Valeo SE | &nbsp;&nbsp; 255113 | 2915217 |
| Vallourec SACA<sup>(a)(b)</sup> | &nbsp;&nbsp; 200929 | 3248745 |
| Valneva SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 168590 | 600815 |
| Veolia Environnement SA | &nbsp;&nbsp; 832848 | 26162840 |
| Verallia SA<sup>(c)</sup> | &nbsp;&nbsp; 73726 | 2168679 |
| Vicat SACA | &nbsp;&nbsp; 28423 | 988432 |
| Vinci SA | &nbsp;&nbsp; 617344 | 70450021 |
| Virbac SACA | &nbsp;&nbsp; 6688 | 2545944 |
| Vivendi SE | &nbsp;&nbsp; 821880 | 8770080 |
| VusionGroup<sup>(a)</sup> | &nbsp;&nbsp; 11387 | 1659580 |
| Wendel SE | &nbsp;&nbsp; 28858 | 2764930 |
| Worldline SA/France<sup>(b)(c)</sup> | &nbsp;&nbsp; 300118 | 3405401 |
|  |  | 2427204426 |
| **Germany — 4.8%** | **Germany — 4.8%** | **Germany — 4.8%** |
| adidas AG | &nbsp;&nbsp; 199647 | 50030991 |
| AIXTRON SE<sup>(a)</sup> | &nbsp;&nbsp; 142957 | 3337982 |
| Allianz SE, Registered | &nbsp;&nbsp; 477093 | 134380585 |
| Amadeus Fire AG | &nbsp;&nbsp; 11185 | 1149325 |
| Aroundtown SA<sup>(b)</sup> | &nbsp;&nbsp; 1221033 | 2604927 |
| Aurubis AG | &nbsp;&nbsp; 37378 | 2914932 |
| Auto1 Group SE<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 124947 | 1052018 |
| BASF SE | &nbsp;&nbsp; 1092125 | 50846214 |
| Bayer AG, Registered | &nbsp;&nbsp; 1195351 | 35562514 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 385698 | 35773151 |
| BayWa AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 24934 | 350162 |
| Bechtle AG | &nbsp;&nbsp; 101040 | 4465319 |
| Befesa SA<sup>(c)</sup> | &nbsp;&nbsp; 52402 | 1626900 |
| Beiersdorf AG | &nbsp;&nbsp; 125175 | 18168778 |
| Bilfinger SE | &nbsp;&nbsp; 59515 | 3336723 |
| Borussia Dortmund GmbH & Co. KGaA<sup>(b)</sup> | &nbsp;&nbsp; 108747 | 429000 |
| Brenntag SE | &nbsp;&nbsp; 165826 | 11796250 |
| CANCOM SE | &nbsp;&nbsp; 50373 | 1787095 |
| Carl Zeiss Meditec AG, Bearer | &nbsp;&nbsp; 50436 | 3450557 |
| Ceconomy AG<sup>(b)</sup> | &nbsp;&nbsp; 302316 | 911843 |
| Commerzbank AG | &nbsp;&nbsp; 1302885 | 21240247 |
| CompuGroup Medical SE & Co. KgaA | &nbsp;&nbsp; 38675 | 670745 |
| Continental AG | &nbsp;&nbsp; 130211 | 7982429 |
| Covestro AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 237787 | 13998244 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 75924 | 6687672 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 660153 | 25487810 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Delivery Hero SE, Class A<sup>(b)(c)</sup> | &nbsp;&nbsp; 230884 | $5136749 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 2290280 | 35649295 |
| Deutsche Boerse AG | &nbsp;&nbsp; 229009 | 46893816 |
| Deutsche Lufthansa AG, Registered<sup>(a)</sup> | &nbsp;&nbsp; 772006 | 4837994 |
| Deutsche Pfandbriefbank AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 252509 | 1425011 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 1208550 | 53908015 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 3969778 | 103839399 |
| Deutz AG | &nbsp;&nbsp; 237411 | 1367416 |
| Duerr AG | &nbsp;&nbsp; 73636 | 1619594 |
| E.ON SE | &nbsp;&nbsp; 2714799 | 38069950 |
| Eckert & Ziegler SE | &nbsp;&nbsp; 33453 | 1565644 |
| Encavis AG, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 164337 | 3080084 |
| Evonik Industries AG | &nbsp;&nbsp; 282722 | 5725601 |
| Evotec SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 183186 | 1726085 |
| Fielmann Group AG | &nbsp;&nbsp; 36908 | 1671006 |
| flatexDEGIRO AG | &nbsp;&nbsp; 122574 | 1730946 |
| Fraport AG Frankfurt Airport Services Worldwide<sup>(b)</sup> | &nbsp;&nbsp; 47845 | 2429727 |
| Freenet AG | &nbsp;&nbsp; 150492 | 4164426 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 249259 | 9618369 |
| Fresenius SE & Co. KGaA<sup>(b)</sup> | &nbsp;&nbsp; 506780 | 18158311 |
| GEA Group AG | &nbsp;&nbsp; 187959 | 8299416 |
| Gerresheimer AG | &nbsp;&nbsp; 41358 | 4275892 |
| Grand City Properties SA<sup>(b)</sup> | &nbsp;&nbsp; 115602 | 1362714 |
| Grenke AG | &nbsp;&nbsp; 45738 | 1412378 |
| Hamborner REIT AG | &nbsp;&nbsp; 226552 | 1593892 |
| Hamburger Hafen und Logistik AG, NVS | &nbsp;&nbsp; 72863 | 1222268 |
| Hannover Rueck SE | &nbsp;&nbsp; 72839 | 18085233 |
| Heidelberg Materials AG | &nbsp;&nbsp; 165835 | 17276554 |
| HelloFresh SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 183031 | 1143349 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 134439 | 10416721 |
| Hensoldt AG | &nbsp;&nbsp; 80415 | 2975449 |
| Hugo Boss AG<sup>(a)</sup> | &nbsp;&nbsp; 75485 | 2999809 |
| Hypoport SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 6062 | 1801646 |
| Infineon Technologies AG | &nbsp;&nbsp; 1589758 | 55225234 |
| Jenoptik AG | &nbsp;&nbsp; 86553 | 2467774 |
| K+S AG, Registered<sup>(a)</sup> | &nbsp;&nbsp; 211952 | 2730504 |
| KION Group AG | &nbsp;&nbsp; 87964 | 3478962 |
| Kloeckner & Co. SE | &nbsp;&nbsp; 66511 | 366940 |
| Knorr-Bremse AG | &nbsp;&nbsp; 82339 | 6621358 |
| Kontron AG<sup>(a)</sup> | &nbsp;&nbsp; 92149 | 1952379 |
| Krones AG | &nbsp;&nbsp; 21420 | 2897998 |
| Lanxess AG | &nbsp;&nbsp; 89411 | 2334217 |
| LEG Immobilien SE | &nbsp;&nbsp; 93074 | 8118983 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 973271 | 64337518 |
| Merck KGaA | &nbsp;&nbsp; 157297 | 28104613 |
| METRO AG<sup>(a)</sup> | &nbsp;&nbsp; 256315 | 1167178 |
| MTU Aero Engines AG | &nbsp;&nbsp; 66616 | 18863228 |
| Muenchener Rueckversicherungs-Gesellschaft AG <br> in Muenchen, Registered<br>| &nbsp;&nbsp; 166123 | 81819691 |
| Nemetschek SE | &nbsp;&nbsp; 74023 | 7070388 |
| Nordex SE<sup>(b)</sup> | &nbsp;&nbsp; 203878 | 3091021 |
| Norma Group SE | &nbsp;&nbsp; 46416 | 863015 |
| Patrizia SE | &nbsp;&nbsp; 92727 | 730454 |
| Pfeiffer Vacuum Technology AG | &nbsp;&nbsp; 11962 | 2039919 |
| ProSiebenSat.1 Media SE<sup>(a)</sup> | &nbsp;&nbsp; 175342 | 1202905 |
| Puma SE | &nbsp;&nbsp; 127740 | 6338856 |
| Qiagen NV, NVS | &nbsp;&nbsp; 262005 | 11657634 |
| Rational AG | &nbsp;&nbsp; 5543 | 4852214 |
| Redcare Pharmacy NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 19126 | 2863228 |
| RENK Group AG<sup>(b)</sup> | &nbsp;&nbsp; 43574 | 1236010 |
| Rheinmetall AG | &nbsp;&nbsp; 53372 | 29069395 |
| RWE AG | &nbsp;&nbsp; 768982 | 28699101 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Salzgitter AG | &nbsp;&nbsp; 74233 | $1331012 |
| SAP SE | &nbsp;&nbsp; 1270046 | 268513424 |
| Scout24 SE<sup>(c)</sup> | &nbsp;&nbsp; 98658 | 7799647 |
| SGL Carbon SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 85209 | 572276 |
| Siemens AG, Registered | &nbsp;&nbsp; 923569 | 169102697 |
| Siemens Energy AG<sup>(b)</sup> | &nbsp;&nbsp; 727791 | 21133987 |
| Siemens Healthineers AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 344892 | 18485903 |
| Siltronic AG<sup>(a)</sup> | &nbsp;&nbsp; 29985 | 2445407 |
| Sixt SE<sup>(a)</sup> | &nbsp;&nbsp; 29070 | 2028383 |
| SMA Solar Technology AG | &nbsp;&nbsp; 20389 | 548366 |
| Stabilus SE | &nbsp;&nbsp; 36670 | 1794467 |
| Stroeer SE & Co. KGaA | &nbsp;&nbsp; 44422 | 3003392 |
| Suedzucker AG | &nbsp;&nbsp; 100697 | 1327368 |
| SUESS MicroTec SE | &nbsp;&nbsp; 25088 | 1703634 |
| Symrise AG, Class A | &nbsp;&nbsp; 166369 | 20967712 |
| TAG Immobilien AG<sup>(b)</sup> | &nbsp;&nbsp; 290450 | 4375840 |
| Takkt AG | &nbsp;&nbsp; 36043 | 417381 |
| Talanx AG<sup>(b)</sup> | &nbsp;&nbsp; 75489 | 5735006 |
| TeamViewer SE<sup>(b)(c)</sup> | &nbsp;&nbsp; 176951 | 2386526 |
| thyssenkrupp AG | &nbsp;&nbsp; 631628 | 2418502 |
| TUI AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 525590 | 3389447 |
| United Internet AG, Registered<sup>(e)</sup> | &nbsp;&nbsp; 110280 | 2445922 |
| Verbio SE | &nbsp;&nbsp; 41180 | 774215 |
| Volkswagen AG | &nbsp;&nbsp; 40758 | 4808997 |
| Vonovia SE | &nbsp;&nbsp; 909801 | 27894679 |
| Vossloh AG | &nbsp;&nbsp; 24354 | 1294683 |
| Wacker Chemie AG | &nbsp;&nbsp; 19880 | 1986984 |
| Wacker Neuson SE<sup>(a)</sup> | &nbsp;&nbsp; 49219 | 766134 |
| Zalando SE<sup>(b)(c)</sup> | &nbsp;&nbsp; 268386 | 6877196 |
|  |  | 1822055076 |
| **Greece — 0.1%** | **Greece — 0.1%** | **Greece — 0.1%** |
| Alpha Services and Holdings SA | &nbsp;&nbsp; 2529242 | 4666676 |
| Autohellas Tourist and Trading SA | &nbsp;&nbsp; 24623 | 316003 |
| Eurobank Ergasias Services and Holdings SA, <br> Class A<br>| &nbsp;&nbsp; 3134996 | 7183120 |
| FF Group<sup>(d)</sup> | &nbsp;&nbsp; 16274 |  |
| Hellenic Telecommunications Organization SA | &nbsp;&nbsp; 204814 | 3365042 |
| Jumbo SA | &nbsp;&nbsp; 140277 | 3758934 |
| Metlen Energy & Metals SA | &nbsp;&nbsp; 163137 | 6447090 |
| Motor Oil Hellas Corinth Refineries SA | &nbsp;&nbsp; 117563 | 2996660 |
| National Bank of Greece SA | &nbsp;&nbsp; 970666 | 8519581 |
| OPAP SA | &nbsp;&nbsp; 298309 | 5201031 |
| Piraeus Financial Holdings SA | &nbsp;&nbsp; 1348376 | 5696830 |
| Public Power Corp. SA | &nbsp;&nbsp; 288169 | 3671080 |
| Terna Energy SA | &nbsp;&nbsp; 122008 | 2539190 |
| Titan Cement International SA | &nbsp;&nbsp; 45514 | 1620067 |
|  |  | 55981304 |
| **Hong Kong — 1.1%** | **Hong Kong — 1.1%** | **Hong Kong — 1.1%** |
| AIA Group Ltd. | &nbsp;&nbsp; 13741200 | 91912902 |
| ASMPT Ltd. | &nbsp;&nbsp; 341200 | 3567436 |
| Bank of East Asia Ltd. (The) | &nbsp;&nbsp; 1495200 | 1885875 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 4716500 | 13721815 |
| Brightoil Petroleum Holdings Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 757750 | 1 |
| Cafe de Coral Holdings Ltd. | &nbsp;&nbsp; 794000 | 817924 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 2330388 | 8904575 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 3228888 | 16868060 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 723000 | 4822228 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 2019500 | 17332593 |
| Cowell e Holdings Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 584000 | 1601848 |
| Dah Sing Banking Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 743600 | 588854 |
| Dah Sing Financial Holdings Ltd. | &nbsp;&nbsp; 254400 | 665537 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| ESR Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 2423600 | $3664079 |
| First Pacific Co. Ltd. | &nbsp;&nbsp; 3845000 | 1711335 |
| Futu Holdings Ltd., ADR<sup>(b)</sup> | &nbsp;&nbsp; 74013 | 4683543 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 2684000 | 11283327 |
| Guotai Junan International Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 7942000 | 679535 |
| Hang Lung Properties Ltd. | &nbsp;&nbsp; 2516000 | 1844966 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 1017400 | 12458901 |
| Health and Happiness H&H International <br> Holdings Ltd.<sup>(a)</sup><br>| &nbsp;&nbsp; 251500 | 276517 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 1407941 | 3954656 |
| HKBN Ltd. | &nbsp;&nbsp; 2090500 | 662162 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 4751600 | 5754959 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 13967566 | 11381786 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 1413300 | 41688138 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 1340400 | 4328972 |
| Hutchison Telecommunications Hong Kong <br> Holdings Ltd.<br>| &nbsp;&nbsp; 4290000 | 554586 |
| Hysan Development Co. Ltd. | &nbsp;&nbsp; 1064000 | 1457138 |
| IGG Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1527000 | 552807 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 185800 | 6545536 |
| Johnson Electric Holdings Ltd. | &nbsp;&nbsp; 712250 | 984753 |
| JS Global Lifestyle Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1311500 | 262142 |
| Kerry Logistics Network Ltd. | &nbsp;&nbsp; 1072500 | 938953 |
| Kerry Properties Ltd. | &nbsp;&nbsp; 1083000 | 1845034 |
| Link REIT | &nbsp;&nbsp; 3218280 | 13577991 |
| Luk Fook Holdings International Ltd. | &nbsp;&nbsp; 611000 | 1201710 |
| Man Wah Holdings Ltd. | &nbsp;&nbsp; 2696400 | 1590340 |
| Melco International Development Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1225000 | 719086 |
| Melco Resorts & Entertainment Ltd., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 283757 | 1620252 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 1910000 | 6179030 |
| New World Development Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1536416 | 1432316 |
| NWS Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2883000 | 2582058 |
| Pacific Basin Shipping Ltd. | &nbsp;&nbsp; 8779000 | 2635957 |
| PAX Global Technology Ltd. | &nbsp;&nbsp; 1371000 | 769258 |
| PCCW Ltd. | &nbsp;&nbsp; 5835000 | 3025303 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 1712500 | 10914568 |
| Sands China Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2955200 | 5539918 |
| Shangri-La Asia Ltd. | &nbsp;&nbsp; 1304000 | 914232 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 3716000 | 3843674 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 1619000 | 3613247 |
| SJM Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 3794000 | 1222917 |
| SmarTone Telecommunications Holdings Ltd. | &nbsp;&nbsp; 913500 | 438313 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 1732500 | 15000891 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 552500 | 4766293 |
| Swire Properties Ltd. | &nbsp;&nbsp; 1505600 | 2377838 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 1678500 | 21496031 |
| United Energy Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 9772000 | 419005 |
| Vitasoy International Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1234000 | 885291 |
| VTech Holdings Ltd. | &nbsp;&nbsp; 428500 | 2819131 |
| WH Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 9378500 | 6096435 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 1170000 | 3207961 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 1843000 | 4530866 |
| Wynn Macau Ltd. | &nbsp;&nbsp; 2023200 | 1494528 |
| Xinyi Glass Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2123000 | 2242649 |
| Yue Yuen Industrial Holdings Ltd. | &nbsp;&nbsp; 1193000 | 1947482 |
|  |  | 409308044 |
| **Hungary — 0.1%** | **Hungary — 0.1%** | **Hungary — 0.1%** |
| Magyar Telekom Telecommunications PLC | &nbsp;&nbsp; 477539 | 1430222 |
| MOL Hungarian Oil & Gas PLC | &nbsp;&nbsp; 484968 | 3780086 |
| OTP Bank Nyrt | &nbsp;&nbsp; 282894 | 14501586 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hungary (continued)** | **Hungary (continued)** | **Hungary (continued)** |
| Richter Gedeon Nyrt | &nbsp;&nbsp; 176812 | $5040636 |
|  |  | 24752530 |
| **India — 6.1%** | **India — 6.1%** | **India — 6.1%** |
| 360 ONE WAM Ltd. | &nbsp;&nbsp; 230068 | 3118683 |
| 3M India Ltd. | &nbsp;&nbsp; 5533 | 2599993 |
| Aarti Industries Ltd. | &nbsp;&nbsp; 408157 | 3657822 |
| Aarti Pharmalabs Ltd., NVS | &nbsp;&nbsp; 86518 | 654033 |
| Aavas Financiers Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 101893 | 2045329 |
| ABB India Ltd. | &nbsp;&nbsp; 67217 | 6352387 |
| Adani Enterprises Ltd. | &nbsp;&nbsp; 207288 | 7866732 |
| Adani Green Energy Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 378965 | 8383978 |
| Adani Ports & Special Economic Zone Ltd. | &nbsp;&nbsp; 627157 | 11793989 |
| Adani Power Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 927961 | 8164971 |
| Aditya Birla Fashion and Retail Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 803270 | 3306109 |
| Aegis Logistics Ltd. | &nbsp;&nbsp; 193465 | 1920638 |
| Affle India Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 141097 | 2550633 |
| AIA Engineering Ltd. | &nbsp;&nbsp; 80295 | 4435877 |
| Ajanta Pharma Ltd. | &nbsp;&nbsp; 53056 | 1710240 |
| Amara Raja Energy & Mobility Ltd. | &nbsp;&nbsp; 244634 | 4764728 |
| Amber Enterprises India Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 37429 | 1942391 |
| Ambuja Cements Ltd. | &nbsp;&nbsp; 911862 | 7417409 |
| Angel One Ltd. | &nbsp;&nbsp; 66762 | 1733604 |
| Apar Industries Ltd. | &nbsp;&nbsp; 36341 | 4010563 |
| APL Apollo Tubes Ltd. | &nbsp;&nbsp; 247143 | 4393772 |
| Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp; 134426 | 10643223 |
| Apollo Tyres Ltd. | &nbsp;&nbsp; 544640 | 3625187 |
| Ashok Leyland Ltd. | &nbsp;&nbsp; 2321280 | 7144015 |
| Asian Paints Ltd. | &nbsp;&nbsp; 499515 | 18436010 |
| Aster DM Healthcare Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 264503 | 1099725 |
| Astral Ltd. | &nbsp;&nbsp; 234827 | 6147535 |
| AU Small Finance Bank Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 434955 | 3362095 |
| Aurobindo Pharma Ltd. | &nbsp;&nbsp; 387701 | 6653025 |
| Avenue Supermarts Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 218251 | 12877250 |
| Axis Bank Ltd. | &nbsp;&nbsp; 2776153 | 38780917 |
| Bajaj Auto Ltd. | &nbsp;&nbsp; 87360 | 10093160 |
| Bajaj Finance Ltd. | &nbsp;&nbsp; 347712 | 28333946 |
| Bajaj Finserv Ltd. | &nbsp;&nbsp; 523039 | 10340920 |
| Bajaj Holdings & Investment Ltd. | &nbsp;&nbsp; 32010 | 3683263 |
| Balkrishna Industries Ltd. | &nbsp;&nbsp; 131442 | 5226657 |
| Balrampur Chini Mills Ltd. | &nbsp;&nbsp; 377914 | 2174415 |
| Bandhan Bank Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 945578 | 2469176 |
| Bank of Baroda | &nbsp;&nbsp; 1341894 | 4073473 |
| Bata India Ltd. | &nbsp;&nbsp; 164556 | 3142446 |
| BEML Ltd., (Acquired 05/31/24, Cost: <br> $1,601,282)<sup>(f)</sup><br>| &nbsp;&nbsp; 30093 | 1645764 |
| Bharat Dynamics Ltd. | &nbsp;&nbsp; 89851 | 1569598 |
| Bharat Electronics Ltd. | &nbsp;&nbsp; 4948428 | 18724297 |
| Bharat Forge Ltd. | &nbsp;&nbsp; 406932 | 8445319 |
| Bharat Heavy Electricals Ltd. | &nbsp;&nbsp; 1253788 | 4743198 |
| Bharat Petroleum Corp. Ltd. | &nbsp;&nbsp; 1991717 | 8354208 |
| Bharti Airtel Ltd. | &nbsp;&nbsp; 2826698 | 50495896 |
| Biocon Ltd. | &nbsp;&nbsp; 812546 | 3523351 |
| Birlasoft Ltd. | &nbsp;&nbsp; 413610 | 3348227 |
| Blue Star Ltd. | &nbsp;&nbsp; 161635 | 3337041 |
| Bosch Ltd. | &nbsp;&nbsp; 8532 | 3568341 |
| Brigade Enterprises Ltd. | &nbsp;&nbsp; 189219 | 2851386 |
| Britannia Industries Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 138522 | 9578410 |
| BSE Ltd. | &nbsp;&nbsp; 90223 | 2767661 |
| Canara Bank | &nbsp;&nbsp; 847801 | 1164930 |
| Carborundum Universal Ltd. | &nbsp;&nbsp; 150209 | 3091185 |
| Castrol India Ltd. | &nbsp;&nbsp; 460805 | 1446062 |
| Central Depository Services India Ltd. | &nbsp;&nbsp; 103328 | 3104296 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Century Textiles & Industries Ltd. | &nbsp;&nbsp; 120465 | $3365191 |
| CESC Ltd. | &nbsp;&nbsp; 1610054 | 3329522 |
| CG Power and Industrial Solutions Ltd. | &nbsp;&nbsp; 899030 | 7923116 |
| Cholamandalam Investment and Finance Co. Ltd. | &nbsp;&nbsp; 627189 | 10626810 |
| Cipla Ltd. | &nbsp;&nbsp; 655020 | 12103448 |
| City Union Bank Ltd. | &nbsp;&nbsp; 608566 | 1254391 |
| Coal India Ltd. | &nbsp;&nbsp; 1866440 | 11674383 |
| Cochin Shipyard Ltd., NVS<sup>(c)</sup> | &nbsp;&nbsp; 143107 | 4492197 |
| Coforge Ltd. | &nbsp;&nbsp; 78859 | 5960484 |
| Colgate-Palmolive India Ltd. | &nbsp;&nbsp; 158524 | 6469414 |
| Computer Age Management Services Ltd. | &nbsp;&nbsp; 84703 | 4599055 |
| Container Corp. of India Ltd. | &nbsp;&nbsp; 417262 | 5200946 |
| Coromandel International Ltd. | &nbsp;&nbsp; 172963 | 3437784 |
| CRISIL Ltd. | &nbsp;&nbsp; 22008 | 1153358 |
| Crompton Greaves Consumer Electricals Ltd. | &nbsp;&nbsp; 830317 | 4482647 |
| Cummins India Ltd. | &nbsp;&nbsp; 191730 | 8840176 |
| Cyient Ltd. | &nbsp;&nbsp; 113734 | 2392648 |
| Dabur India Ltd. | &nbsp;&nbsp; 754350 | 5735188 |
| Data Patterns India Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 34577 | 1321481 |
| Deepak Nitrite Ltd. | &nbsp;&nbsp; 116503 | 4315161 |
| Delhivery Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 537960 | 2602525 |
| Divi's Laboratories Ltd. | &nbsp;&nbsp; 145425 | 8560702 |
| Dixon Technologies India Ltd. | &nbsp;&nbsp; 54796 | 7947658 |
| DLF Ltd. | &nbsp;&nbsp; 909418 | 9682033 |
| Dr Lal PathLabs Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 78051 | 2884209 |
| Dr. Reddy's Laboratories Ltd. | &nbsp;&nbsp; 157602 | 12726263 |
| Easy Trip Planners Ltd., NVS | &nbsp;&nbsp; 1512641 | 749250 |
| Edelweiss Financial Services Ltd. | &nbsp;&nbsp; 1135047 | 949782 |
| Eicher Motors Ltd. | &nbsp;&nbsp; 181792 | 10795560 |
| EIH Ltd. | &nbsp;&nbsp; 267648 | 1411258 |
| Elgi Equipments Ltd. | &nbsp;&nbsp; 320987 | 2660962 |
| Emami Ltd. | &nbsp;&nbsp; 300469 | 2935544 |
| Embassy Office Parks REIT | &nbsp;&nbsp; 1033403 | 4476295 |
| Engineers India Ltd. | &nbsp;&nbsp; 310828 | 975685 |
| Equinox India Developments Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1033556 | 1682822 |
| Exide Industries Ltd. | &nbsp;&nbsp; 784192 | 4910321 |
| FDC Ltd./India<sup>(b)</sup> | &nbsp;&nbsp; 156621 | 954223 |
| Federal Bank Ltd. | &nbsp;&nbsp; 2791782 | 6728263 |
| Finolex Cables Ltd. | &nbsp;&nbsp; 190573 | 3494280 |
| Fortis Healthcare Ltd. | &nbsp;&nbsp; 810457 | 4862988 |
| GAIL India Ltd. | &nbsp;&nbsp; 3340354 | 9634414 |
| GlaxoSmithKline Pharmaceuticals Ltd. | &nbsp;&nbsp; 53943 | 1761715 |
| Glenmark Pharmaceuticals Ltd. | &nbsp;&nbsp; 310586 | 5454715 |
| Global Health Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 143870 | 2138180 |
| GMR Airports Infrastructure Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3898894 | 4751494 |
| Godrej Consumer Products Ltd. | &nbsp;&nbsp; 503937 | 8690203 |
| Godrej Industries Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 202819 | 2198586 |
| Godrej Properties Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 197647 | 7619263 |
| Granules India Ltd. | &nbsp;&nbsp; 308184 | 2321762 |
| Grasim Industries Ltd. | &nbsp;&nbsp; 346903 | 11522007 |
| Great Eastern Shipping Co. Ltd. (The) | &nbsp;&nbsp; 174674 | 2901587 |
| Gujarat Fluorochemicals Ltd. | &nbsp;&nbsp; 45214 | 1831223 |
| Gujarat Gas Ltd. | &nbsp;&nbsp; 288192 | 2339533 |
| Gujarat Narmada Valley Fertilizers & <br> Chemicals Ltd.<br>| &nbsp;&nbsp; 237940 | 2030497 |
| Gujarat State Petronet Ltd. | &nbsp;&nbsp; 384092 | 1560588 |
| Happiest Minds Technologies Ltd. | &nbsp;&nbsp; 209883 | 2044887 |
| Havells India Ltd. | &nbsp;&nbsp; 382148 | 8451742 |
| HBL Power Systems Ltd. | &nbsp;&nbsp; 122122 | 905691 |
| HCL Technologies Ltd. | &nbsp;&nbsp; 1233041 | 24262458 |
| HDFC Asset Management Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 115924 | 5704623 |
| HDFC Bank Ltd. | &nbsp;&nbsp; 3457894 | 66821233 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| HDFC Life Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1212204 | $10378616 |
| HEG Ltd. | &nbsp;&nbsp; 35556 | 946721 |
| Hero MotoCorp Ltd. | &nbsp;&nbsp; 164714 | 10821324 |
| HFCL Ltd. | &nbsp;&nbsp; 2069892 | 3339025 |
| Hindalco Industries Ltd. | &nbsp;&nbsp; 1693385 | 13583516 |
| Hindustan Aeronautics Ltd., NVS | &nbsp;&nbsp; 255452 | 15054336 |
| Hindustan Copper Ltd. | &nbsp;&nbsp; 369943 | 1426959 |
| Hindustan Petroleum Corp. Ltd. | &nbsp;&nbsp; 1290032 | 6064620 |
| Hindustan Unilever Ltd. | &nbsp;&nbsp; 1033939 | 33450480 |
| Hitachi Energy India Ltd. | &nbsp;&nbsp; 13745 | 1908776 |
| Housing & Urban Development Corp. Ltd. | &nbsp;&nbsp; 414893 | 1553929 |
| ICICI Bank Ltd. | &nbsp;&nbsp; 6324104 | 92183074 |
| ICICI Lombard General Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 284828 | 6844295 |
| ICICI Prudential Life Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 382092 | 3366370 |
| IDFC First Bank Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5499464 | 5004295 |
| IDFC Ltd. | &nbsp;&nbsp; 2558702 | 3450061 |
| IIFL Finance Ltd. | &nbsp;&nbsp; 353995 | 1873758 |
| IndiaMART Intermesh Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 69128 | 2434928 |
| Indian Energy Exchange Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 977266 | 2248734 |
| Indian Hotels Co. Ltd., Class A | &nbsp;&nbsp; 1176298 | 9039471 |
| Indian Oil Corp. Ltd. | &nbsp;&nbsp; 3421497 | 7455994 |
| Indian Railway Catering & Tourism Corp. Ltd. | &nbsp;&nbsp; 409236 | 4839592 |
| Indian Renewable Energy Development Agency <br> Ltd., NVS<sup>(b)</sup><br>| &nbsp;&nbsp; 1317622 | 4159368 |
| Indraprastha Gas Ltd. | &nbsp;&nbsp; 448377 | 2940178 |
| Indus Towers Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1477222 | 7657648 |
| IndusInd Bank Ltd. | &nbsp;&nbsp; 348177 | 5951145 |
| Info Edge India Ltd. | &nbsp;&nbsp; 94019 | 7906388 |
| Infosys Ltd. | &nbsp;&nbsp; 4055623 | 89932650 |
| Inox Wind Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 540992 | 1190779 |
| Intellect Design Arena Ltd. | &nbsp;&nbsp; 109530 | 1271268 |
| InterGlobe Aviation Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 217633 | 11638150 |
| Ipca Laboratories Ltd. | &nbsp;&nbsp; 232335 | 3634113 |
| IRB Infrastructure Developers Ltd., NVS | &nbsp;&nbsp; 1997969 | 1590583 |
| IRCON International Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 847203 | 2930925 |
| ITC Ltd. | &nbsp;&nbsp; 3719979 | 22054529 |
| Jaiprakash Power Ventures Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5055535 | 1202138 |
| JB Chemicals & Pharmaceuticals Ltd., NVS | &nbsp;&nbsp; 119679 | 2750957 |
| Jindal Saw Ltd. | &nbsp;&nbsp; 166726 | 1294241 |
| Jindal Stainless Ltd. | &nbsp;&nbsp; 389538 | 3453852 |
| Jindal Steel & Power Ltd. | &nbsp;&nbsp; 478580 | 5667318 |
| Jio Financial Services Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 3825165 | 15062697 |
| JK Cement Ltd. | &nbsp;&nbsp; 66014 | 3489400 |
| JSW Energy Ltd. | &nbsp;&nbsp; 417949 | 3645050 |
| JSW Steel Ltd. | &nbsp;&nbsp; 786573 | 8742374 |
| Jubilant Foodworks Ltd. | &nbsp;&nbsp; 644377 | 4618664 |
| Jubilant Pharmova Ltd., Class A | &nbsp;&nbsp; 164384 | 1521953 |
| Jupiter Wagons Ltd., NVS | &nbsp;&nbsp; 141430 | 1033391 |
| Kajaria Ceramics Ltd. | &nbsp;&nbsp; 141129 | 2501040 |
| Kalpataru Projects International Ltd. | &nbsp;&nbsp; 116877 | 1919585 |
| Kalyan Jewellers India Ltd. | &nbsp;&nbsp; 485141 | 3364860 |
| Karur Vysya Bank Ltd. (The) | &nbsp;&nbsp; 1214141 | 3356507 |
| Kaynes Technology India Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 31267 | 1663908 |
| KEI Industries Ltd. | &nbsp;&nbsp; 66633 | 3456728 |
| Kirloskar Oil Engines Ltd. | &nbsp;&nbsp; 91116 | 1346074 |
| Kotak Mahindra Bank Ltd. | &nbsp;&nbsp; 1349857 | 29243227 |
| KPI Green Energy Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 75222 | 838868 |
| KPIT Technologies Ltd. | &nbsp;&nbsp; 284224 | 6273488 |
| L&T Finance Ltd. | &nbsp;&nbsp; 1163681 | 2506575 |
| Larsen & Toubro Ltd. | &nbsp;&nbsp; 847401 | 38698572 |
| Laurus Labs Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 590562 | 3277194 |
| LIC Housing Finance Ltd. | &nbsp;&nbsp; 594382 | 5464839 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| LTIMindtree Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 107192 | $7262411 |
| Lupin Ltd. | &nbsp;&nbsp; 303275 | 6939957 |
| Macrotech Developers Ltd. | &nbsp;&nbsp; 351591 | 5505757 |
| Mahanagar Gas Ltd. | &nbsp;&nbsp; 115964 | 2593569 |
| Mahindra & Mahindra Financial Services Ltd. | &nbsp;&nbsp; 1023895 | 3716590 |
| Mahindra & Mahindra Ltd. | &nbsp;&nbsp; 1168322 | 40669825 |
| Manappuram Finance Ltd. | &nbsp;&nbsp; 1107824 | 2840472 |
| Mankind Pharma Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 106511 | 2584943 |
| Marico Ltd. | &nbsp;&nbsp; 706490 | 5696743 |
| Maruti Suzuki India Ltd. | &nbsp;&nbsp; 177515 | 27852730 |
| Max Financial Services Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 287115 | 3818633 |
| Max Healthcare Institute Ltd. | &nbsp;&nbsp; 1096091 | 12104168 |
| Motherson Sumi Wiring India Ltd. | &nbsp;&nbsp; 3546460 | 3134792 |
| Motilal Oswal Financial Services Ltd. | &nbsp;&nbsp; 377385 | 2975198 |
| Mphasis Ltd. | &nbsp;&nbsp; 141426 | 4902271 |
| MRF Ltd. | &nbsp;&nbsp; 3764 | 6400639 |
| MTAR Technologies Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 60590 | 1382170 |
| Multi Commodity Exchange of India Ltd. | &nbsp;&nbsp; 28893 | 1483893 |
| Muthoot Finance Ltd. | &nbsp;&nbsp; 164560 | 3618010 |
| Natco Pharma Ltd. | &nbsp;&nbsp; 222986 | 3637980 |
| National Aluminium Co. Ltd. | &nbsp;&nbsp; 1805942 | 4202570 |
| Navin Fluorine International Ltd. | &nbsp;&nbsp; 56579 | 2574237 |
| NBCC India Ltd. | &nbsp;&nbsp; 1417166 | 3077313 |
| NCC Ltd./India | &nbsp;&nbsp; 855752 | 3675537 |
| Nestle India Ltd., NVS | &nbsp;&nbsp; 417217 | 12260346 |
| NHPC Ltd., NVS | &nbsp;&nbsp; 3548444 | 4467027 |
| NLC India Ltd. | &nbsp;&nbsp; 546790 | 1887694 |
| NMDC Ltd. | &nbsp;&nbsp; 1228811 | 3557897 |
| NMDC Steel Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 1144582 | 798975 |
| NTPC Ltd. | &nbsp;&nbsp; 5587775 | 27825600 |
| Nuvama Wealth Management Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 14279 | 1084703 |
| Oil & Natural Gas Corp. Ltd. | &nbsp;&nbsp; 3819203 | 15257628 |
| Olectra Greentech Ltd. | &nbsp;&nbsp; 58111 | 1192033 |
| One 97 Communications Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 392930 | 2326789 |
| Page Industries Ltd. | &nbsp;&nbsp; 7801 | 3956121 |
| PB Fintech Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 366154 | 6369863 |
| Persistent Systems Ltd., NVS | &nbsp;&nbsp; 120780 | 6988665 |
| Petronet LNG Ltd. | &nbsp;&nbsp; 1019326 | 4495123 |
| Phoenix Mills Ltd. (The) | &nbsp;&nbsp; 118464 | 5098101 |
| PI Industries Ltd. | &nbsp;&nbsp; 111800 | 5924919 |
| Pidilite Industries Ltd. | &nbsp;&nbsp; 213382 | 8125572 |
| Piramal Enterprises Ltd. | &nbsp;&nbsp; 185948 | 2319625 |
| Piramal Pharma Ltd., NVS | &nbsp;&nbsp; 1159356 | 2443900 |
| PNB Housing Finance Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 208178 | 2007814 |
| Polycab India Ltd. | &nbsp;&nbsp; 65196 | 5356347 |
| Poonawalla Fincorp Ltd. | &nbsp;&nbsp; 609491 | 2695471 |
| Power Finance Corp. Ltd. | &nbsp;&nbsp; 1935532 | 12919927 |
| Power Grid Corp. of India Ltd. | &nbsp;&nbsp; 5961072 | 24828985 |
| Praj Industries Ltd. | &nbsp;&nbsp; 335984 | 2837379 |
| Procter & Gamble Health Ltd. | &nbsp;&nbsp; 25171 | 1579765 |
| Punjab National Bank | &nbsp;&nbsp; 2569979 | 3818215 |
| PVR Inox Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 124351 | 2231416 |
| Radico Khaitan Ltd. | &nbsp;&nbsp; 173876 | 3585885 |
| Railtel Corp. of India Ltd. | &nbsp;&nbsp; 182804 | 1094163 |
| Rajesh Exports Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 98747 | 371886 |
| Ramco Cements Ltd. (The) | &nbsp;&nbsp; 200192 | 1978524 |
| Ramkrishna Forgings Ltd. | &nbsp;&nbsp; 199077 | 2044372 |
| Raymond Consumer Care Ltd., NVS | &nbsp;&nbsp; 46408 | 866110 |
| Raymond Ltd. | &nbsp;&nbsp; 58206 | 1370548 |
| RBL Bank Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 774891 | 2184493 |
| REC Ltd. | &nbsp;&nbsp; 1704440 | 13166272 |
| Redington Ltd. | &nbsp;&nbsp; 1283609 | 3258306 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Reliance Industries Ltd. | &nbsp;&nbsp; 3719886 | $134110890 |
| Reliance Power Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5356632 | 2105569 |
| Sammaan Capital Ltd. | &nbsp;&nbsp; 744159 | 1553663 |
| Samvardhana Motherson International Ltd. | &nbsp;&nbsp; 3348418 | 7881929 |
| SBI Cards & Payment Services Ltd. | &nbsp;&nbsp; 397096 | 3452382 |
| SBI Life Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 563103 | 11817547 |
| Shree Cement Ltd. | &nbsp;&nbsp; 12846 | 4262388 |
| Shriram Finance Ltd. | &nbsp;&nbsp; 354367 | 12432520 |
| Siemens Ltd. | &nbsp;&nbsp; 122181 | 10432724 |
| SJVN Ltd. | &nbsp;&nbsp; 955198 | 1701992 |
| SKF India Ltd. | &nbsp;&nbsp; 35564 | 2383157 |
| Solar Industries India Ltd. | &nbsp;&nbsp; 32931 | 4257973 |
| Sona Blw Precision Forgings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 497355 | 4040384 |
| Sonata Software Ltd. | &nbsp;&nbsp; 349350 | 3081420 |
| SRF Ltd. | &nbsp;&nbsp; 224121 | 7094301 |
| Star Health & Allied Insurance Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 221354 | 1604900 |
| State Bank of India | &nbsp;&nbsp; 2304570 | 24093642 |
| Sterling and Wilson Renewable<sup>(b)</sup> | &nbsp;&nbsp; 110815 | 912466 |
| Sterlite Technologies Ltd. | &nbsp;&nbsp; 425039 | 712435 |
| Strides Pharma Science Ltd. | &nbsp;&nbsp; 161413 | 2064667 |
| Sun Pharmaceutical Industries Ltd. | &nbsp;&nbsp; 1174050 | 24147798 |
| Sundaram Finance Ltd. | &nbsp;&nbsp; 60291 | 3119647 |
| Sundram Fasteners Ltd. | &nbsp;&nbsp; 108165 | 1812134 |
| Supreme Industries Ltd. | &nbsp;&nbsp; 96378 | 6176386 |
| Suzlon Energy Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 12168729 | 10119339 |
| Swan Energy Ltd. | &nbsp;&nbsp; 132992 | 1203969 |
| Symphony Ltd. | &nbsp;&nbsp; 52185 | 743467 |
| Syngene International Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 282179 | 2726891 |
| Tanla Platforms Ltd. | &nbsp;&nbsp; 147370 | 1753618 |
| Tata Chemicals Ltd. | &nbsp;&nbsp; 254558 | 3409859 |
| Tata Communications Ltd. | &nbsp;&nbsp; 145268 | 3460101 |
| Tata Consultancy Services Ltd. | &nbsp;&nbsp; 1113446 | 58467831 |
| Tata Consumer Products Ltd. | &nbsp;&nbsp; 799099 | 11370212 |
| Tata Elxsi Ltd. | &nbsp;&nbsp; 45814 | 3829609 |
| Tata Motors Ltd. | &nbsp;&nbsp; 2107746 | 29191298 |
| Tata Motors Ltd. | &nbsp;&nbsp; 554276 | 5267823 |
| Tata Power Co. Ltd. (The) | &nbsp;&nbsp; 2042448 | 11091583 |
| Tata Steel Ltd. | &nbsp;&nbsp; 9379490 | 18570343 |
| Tata Teleservices Maharashtra Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1238484 | 1425938 |
| Tech Mahindra Ltd. | &nbsp;&nbsp; 640773 | 11935842 |
| Tejas Networks Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 145469 | 2160463 |
| Thermax Ltd. | &nbsp;&nbsp; 39904 | 2422300 |
| Timken India Ltd. | &nbsp;&nbsp; 38653 | 1973306 |
| Titagarh Rail System Ltd. | &nbsp;&nbsp; 98136 | 1916808 |
| Titan Co. Ltd. | &nbsp;&nbsp; 454137 | 18806427 |
| Torrent Pharmaceuticals Ltd. | &nbsp;&nbsp; 171684 | 6515910 |
| Torrent Power Ltd. | &nbsp;&nbsp; 198789 | 4438699 |
| Trent Ltd. | &nbsp;&nbsp; 240513 | 16809092 |
| Triveni Turbine Ltd. | &nbsp;&nbsp; 189128 | 1347943 |
| Tube Investments of India Ltd. | &nbsp;&nbsp; 128661 | 6369855 |
| TVS Motor Co. Ltd. | &nbsp;&nbsp; 295790 | 8958305 |
| UltraTech Cement Ltd. | &nbsp;&nbsp; 144879 | 20599290 |
| Union Bank of India Ltd. | &nbsp;&nbsp; 1855487 | 2999258 |
| United Spirits Ltd. | &nbsp;&nbsp; 418919 | 7086172 |
| UNO Minda Ltd. | &nbsp;&nbsp; 275511 | 3432757 |
| UPL Ltd. | &nbsp;&nbsp; 733113 | 5019064 |
| Varun Beverages Ltd. | &nbsp;&nbsp; 602371 | 11364745 |
| Vedanta Ltd. | &nbsp;&nbsp; 1659728 | 8953362 |
| VIP Industries Ltd. | &nbsp;&nbsp; 161141 | 897893 |
| Voltas Ltd. | &nbsp;&nbsp; 293395 | 5399891 |
| Waaree Renewable Technologies Ltd., NVS | &nbsp;&nbsp; 34185 | 669339 |
| Wipro Ltd. | &nbsp;&nbsp; 1665256 | 10391878 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Yes Bank Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 17720039 | $5627320 |
| Zee Entertainment Enterprises Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1108188 | 1977776 |
| Zomato Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 8399144 | 23097708 |
|  |  | 2331307076 |
| **Indonesia — 0.5%** | **Indonesia — 0.5%** | **Indonesia — 0.5%** |
| Adaro Energy Indonesia Tbk PT | &nbsp;&nbsp; 19508200 | 3863247 |
| AKR Corporindo Tbk PT | &nbsp;&nbsp; 11354500 | 1057938 |
| Amman Mineral Internasional PT<sup>(b)</sup> | &nbsp;&nbsp; 8112800 | 5906647 |
| Aneka Tambang Tbk | &nbsp;&nbsp; 15003400 | 1215191 |
| Astra International Tbk PT | &nbsp;&nbsp; 24877300 | 7231637 |
| Bank Central Asia Tbk PT | &nbsp;&nbsp; 70614600 | 44622695 |
| Bank Mandiri Persero Tbk PT | &nbsp;&nbsp; 46874400 | 18486756 |
| Bank Negara Indonesia Persero Tbk PT | &nbsp;&nbsp; 16883600 | 5170992 |
| Bank Rakyat Indonesia Persero Tbk PT | &nbsp;&nbsp; 84911613 | 24432473 |
| Bank Tabungan Negara Persero Tbk PT | &nbsp;&nbsp; 8639493 | 699365 |
| Barito Pacific Tbk PT | &nbsp;&nbsp; 38161936 | 2565520 |
| Bukalapak.com PT Tbk<sup>(b)</sup> | &nbsp;&nbsp; 59466700 | 432407 |
| Bukit Asam Tbk PT | &nbsp;&nbsp; 6039500 | 995440 |
| Bumi Resources Minerals Tbk PT<sup>(b)</sup> | &nbsp;&nbsp; 87900607 | 849580 |
| Bumi Serpong Damai Tbk PT<sup>(b)</sup> | &nbsp;&nbsp; 13067600 | 833127 |
| Charoen Pokphand Indonesia Tbk PT | &nbsp;&nbsp; 9874300 | 3173015 |
| Ciputra Development Tbk PT | &nbsp;&nbsp; 20396796 | 1574291 |
| ESSA Industries Indonesia Tbk PT | &nbsp;&nbsp; 11373700 | 587658 |
| GoTo Gojek Tokopedia Tbk PT<sup>(b)</sup> | &nbsp;&nbsp; 989945100 | 3239520 |
| Hanson International Tbk PT<sup>(b)(d)</sup> | &nbsp;&nbsp; 63791600 |  |
| Indah Kiat Pulp & Paper Tbk PT | &nbsp;&nbsp; 4677600 | 2405821 |
| Indo Tambangraya Megah Tbk PT | &nbsp;&nbsp; 492100 | 795955 |
| Indocement Tunggal Prakarsa Tbk PT | &nbsp;&nbsp; 2290000 | 1021780 |
| Indofood CBP Sukses Makmur Tbk PT | &nbsp;&nbsp; 3587600 | 2410488 |
| Indofood Sukses Makmur Tbk PT | &nbsp;&nbsp; 5666600 | 2134559 |
| Japfa Comfeed Indonesia Tbk PT<sup>(b)</sup> | &nbsp;&nbsp; 8792700 | 886841 |
| Jasa Marga Persero Tbk PT | &nbsp;&nbsp; 3589038 | 1225041 |
| Kalbe Farma Tbk PT | &nbsp;&nbsp; 28880800 | 2824137 |
| Medco Energi Internasional Tbk PT | &nbsp;&nbsp; 16221220 | 1313678 |
| Merdeka Copper Gold Tbk PT<sup>(b)</sup> | &nbsp;&nbsp; 20336576 | 3083720 |
| Metro Healthcare Indonesia TBK PT<sup>(b)</sup> | &nbsp;&nbsp; 43671500 | 214866 |
| Mitra Adiperkasa Tbk PT | &nbsp;&nbsp; 21420100 | 1911167 |
| Pabrik Kertas Tjiwi Kimia Tbk PT | &nbsp;&nbsp; 2489000 | 1232254 |
| Pakuwon Jati Tbk PT | &nbsp;&nbsp; 15719500 | 412339 |
| Perusahaan Gas Negara Tbk PT | &nbsp;&nbsp; 16829100 | 1657422 |
| Pool Advista Indonesia Tbk PT<sup>(b)(d)</sup> | &nbsp;&nbsp; 1914800 |  |
| Sarana Menara Nusantara Tbk PT | &nbsp;&nbsp; 44534000 | 2177400 |
| Semen Indonesia Persero Tbk PT | &nbsp;&nbsp; 5848521 | 1406379 |
| Sumber Alfaria Trijaya Tbk PT | &nbsp;&nbsp; 19873500 | 3471140 |
| Summarecon Agung Tbk PT | &nbsp;&nbsp; 21072204 | 726401 |
| Surya Citra Media Tbk PT | &nbsp;&nbsp; 57973700 | 499159 |
| Telkom Indonesia Persero Tbk PT | &nbsp;&nbsp; 62017300 | 11014547 |
| Trada Alam Minera Tbk PT<sup>(b)(d)</sup> | &nbsp;&nbsp; 39223500 |  |
| Unilever Indonesia Tbk PT | &nbsp;&nbsp; 9175700 | 1377834 |
| United Tractors Tbk PT | &nbsp;&nbsp; 1993200 | 3162642 |
| Waskita Karya Persero Tbk PT<sup>(b)(d)</sup> | &nbsp;&nbsp; 19926317 | 173283 |
| XL Axiata Tbk PT | &nbsp;&nbsp; 6120600 | 817142 |
|  |  | 175293494 |
| **Ireland — 0.2%** | **Ireland — 0.2%** | **Ireland — 0.2%** |
| AIB Group PLC | &nbsp;&nbsp; 1789798 | 10266433 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 1243227 | 14079466 |
| Dalata Hotel Group PLC | &nbsp;&nbsp; 284354 | 1265933 |
| Glanbia PLC | &nbsp;&nbsp; 273413 | 5471213 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 192798 | 18025790 |
| Kingspan Group PLC | &nbsp;&nbsp; 196538 | 18388917 |
|  |  | 67497752 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Israel — 0.6%** | **Israel — 0.6%** | **Israel — 0.6%** |
| Airport City Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 136939 | $1892367 |
| Alony Hetz Properties & Investments Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 289606 | 1933073 |
| Amot Investments Ltd. | &nbsp;&nbsp; 582868 | 2362491 |
| Azrieli Group Ltd. | &nbsp;&nbsp; 59142 | 3629981 |
| Bank Hapoalim BM | &nbsp;&nbsp; 1550040 | 14223686 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 1861288 | 16039631 |
| Bezeq The Israeli Telecommunication Corp. Ltd. | &nbsp;&nbsp; 2749473 | 3116572 |
| Big Shopping Centers Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 8875 | 866767 |
| Camtek Ltd./Israel | &nbsp;&nbsp; 40984 | 4114075 |
| Cellebrite DI Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 81944 | 1122633 |
| Check Point Software Technologies Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 114148 | 20940451 |
| Clal Insurance Enterprises Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 178246 | 2715406 |
| CyberArk Software Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 55969 | 14349332 |
| Danel Adir Yeoshua Ltd. | &nbsp;&nbsp; 13342 | 1093677 |
| Delek Group Ltd. | &nbsp;&nbsp; 18913 | 1957461 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 34075 | 6098916 |
| Enlight Renewable Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 165737 | 2539324 |
| Fattal Holdings 1998 Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 17297 | 1829861 |
| First International Bank Of Israel Ltd. (The) | &nbsp;&nbsp; 104343 | 4206984 |
| Fiverr International Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 67848 | 1771511 |
| G City Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 312209 | 864678 |
| Global-e Online Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 118744 | 4075294 |
| Harel Insurance Investments & Financial <br> Services Ltd.<sup>(a)</sup><br>| &nbsp;&nbsp; 312806 | 2809775 |
| ICL Group Ltd. | &nbsp;&nbsp; 971859 | 4068275 |
| Inmode Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 108920 | 1973630 |
| Isracard Ltd. | &nbsp;&nbsp; 624297 | 2171142 |
| Israel Corp Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 7414 | 1556486 |
| Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 1688149 | 8618024 |
| Ituran Location and Control Ltd. | &nbsp;&nbsp; 45345 | 1200282 |
| Kenon Holdings Ltd./Singapore | &nbsp;&nbsp; 54596 | 1385619 |
| Kornit Digital Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 76921 | 1203814 |
| Melisron Ltd. | &nbsp;&nbsp; 47631 | 3338720 |
| Mivne Real Estate KD Ltd. | &nbsp;&nbsp; 1323758 | 3053112 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 203143 | 7330672 |
| Monday.com Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 45036 | 10349723 |
| Next Vision Stabilized Systems Ltd., NVS | &nbsp;&nbsp; 75064 | 904445 |
| Nice Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 78271 | 14127062 |
| Nova Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 40342 | 8105990 |
| Oddity Tech Ltd., Class A, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 38743 | 1566961 |
| Oil Refineries Ltd. | &nbsp;&nbsp; 6613098 | 1590189 |
| Paz Oil Co. Ltd. | &nbsp;&nbsp; 22083 | 2086617 |
| Perion Network Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 67609 | 551891 |
| Phoenix Holdings Ltd. (The) | &nbsp;&nbsp; 192340 | 1858511 |
| Radware Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 77985 | 1767140 |
| Reit 1 Ltd. | &nbsp;&nbsp; 416119 | 1555853 |
| Shapir Engineering and Industry Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 305698 | 1699698 |
| Shikun & Binui Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 683198 | 1550949 |
| Shufersal Ltd. | &nbsp;&nbsp; 386629 | 2618311 |
| Strauss Group Ltd. | &nbsp;&nbsp; 149340 | 2176745 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(b)</sup> | &nbsp;&nbsp; 1403304 | 24459589 |
| Tower Semiconductor Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 136999 | 5520398 |
| Wix.com Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 65669 | 10239439 |
| ZIM Integrated Shipping Services Ltd. | &nbsp;&nbsp; 120506 | 2372763 |
|  |  | 245555996 |
| **Italy — 1.7%** | **Italy — 1.7%** | **Italy — 1.7%** |
| A2A SpA | &nbsp;&nbsp; 1975824 | 4184934 |
| ACEA SpA | &nbsp;&nbsp; 60120 | 1043051 |
| AMCO - Asset Management Co. SpA, NVS<sup>(d)</sup> | &nbsp;&nbsp; 261 |  |
| Amplifon SpA | &nbsp;&nbsp; 166044 | 5273623 |
| Anima Holding SpA<sup>(c)</sup> | &nbsp;&nbsp; 519668 | 2732685 |
| Azimut Holding SpA | &nbsp;&nbsp; 134702 | 3375071 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| Banca Generali SpA | &nbsp;&nbsp; 83962 | $3653732 |
| Banca IFIS SpA | &nbsp;&nbsp; 58454 | 1372235 |
| Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp; 1122750 | 6126687 |
| Banca Popolare di Sondrio SpA | &nbsp;&nbsp; 540939 | 4122569 |
| Banco BPM SpA | &nbsp;&nbsp; 1515288 | 10491354 |
| BFF Bank SpA<sup>(c)</sup> | &nbsp;&nbsp; 229922 | 2598958 |
| Bio On SpA<sup>(a)(d)</sup> | &nbsp;&nbsp; 4387 |  |
| BPER Banca SpA | &nbsp;&nbsp; 1357426 | 7942342 |
| Brembo NV | &nbsp;&nbsp; 233034 | 2614242 |
| Brunello Cucinelli SpA | &nbsp;&nbsp; 41825 | 3906758 |
| Buzzi SpA | &nbsp;&nbsp; 93215 | 3654405 |
| CIR SpA-Compagnie Industriali<sup>(b)</sup> | &nbsp;&nbsp; 1868016 | 1189961 |
| Credito Emiliano SpA | &nbsp;&nbsp; 262149 | 2869657 |
| Danieli & C Officine Meccaniche SpA<sup>(a)</sup> | &nbsp;&nbsp; 31226 | 1216596 |
| Davide Campari-Milano NV | &nbsp;&nbsp; 771996 | 6962224 |
| De' Longhi SpA | &nbsp;&nbsp; 101222 | 3190548 |
| DiaSorin SpA | &nbsp;&nbsp; 28741 | 3134807 |
| Enav SpA<sup>(c)</sup> | &nbsp;&nbsp; 356549 | 1525036 |
| Enel SpA | &nbsp;&nbsp; 9673324 | 69059544 |
| Eni SpA | &nbsp;&nbsp; 2671545 | 42744162 |
| ERG SpA | &nbsp;&nbsp; 99843 | 2647400 |
| Ferrari NV | &nbsp;&nbsp; 151968 | 62545864 |
| Fincantieri SpA<sup>(b)</sup> | &nbsp;&nbsp; 52957 | 295031 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 704214 | 11954890 |
| Generali | &nbsp;&nbsp; 1180576 | 30556863 |
| GVS SpA<sup>(b)(c)</sup> | &nbsp;&nbsp; 139074 | 961089 |
| Hera SpA | &nbsp;&nbsp; 966757 | 3537359 |
| Infrastrutture Wireless Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 417420 | 4644724 |
| Interpump Group SpA | &nbsp;&nbsp; 107193 | 4648776 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 17677373 | 71784845 |
| Iren SpA | &nbsp;&nbsp; 1041806 | 2119914 |
| Italgas SpA | &nbsp;&nbsp; 564945 | 3020854 |
| Iveco Group NV | &nbsp;&nbsp; 270205 | 2774770 |
| Juventus Football Club SpA, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 128430 | 330804 |
| Leonardo SpA | &nbsp;&nbsp; 459272 | 10942326 |
| Lottomatica Group SpA | &nbsp;&nbsp; 106075 | 1296088 |
| Maire Tecnimont SpA | &nbsp;&nbsp; 238471 | 1892214 |
| MARR SpA | &nbsp;&nbsp; 49866 | 621292 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 723009 | 11736777 |
| MFE-MediaForEurope NV, NVS | &nbsp;&nbsp; 91722 | 425653 |
| MFE-MediaForEurope NV, Class A | &nbsp;&nbsp; 477266 | 1625927 |
| Moncler SpA | &nbsp;&nbsp; 270865 | 16150613 |
| Nexi SpA<sup>(b)(c)</sup> | &nbsp;&nbsp; 739888 | 4541194 |
| Piaggio & C SpA | &nbsp;&nbsp; 491626 | 1354233 |
| Pirelli & C SpA<sup>(c)</sup> | &nbsp;&nbsp; 376170 | 2354930 |
| Poste Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 596964 | 8081426 |
| Prysmian SpA | &nbsp;&nbsp; 326558 | 22449066 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 142892 | 7779493 |
| Reply SpA | &nbsp;&nbsp; 20833 | 2957156 |
| Saipem SpA<sup>(b)</sup> | &nbsp;&nbsp; 1477445 | 3509868 |
| Salvatore Ferragamo SpA<sup>(a)</sup> | &nbsp;&nbsp; 96901 | 844960 |
| Saras SpA | &nbsp;&nbsp; 1004047 | 1737547 |
| Snam SpA | &nbsp;&nbsp; 2401747 | 11477048 |
| Stellantis NV | &nbsp;&nbsp; 2691746 | 44855414 |
| Tamburi Investment Partners SpA | &nbsp;&nbsp; 188148 | 1897132 |
| Technogym SpA<sup>(c)</sup> | &nbsp;&nbsp; 172186 | 1688703 |
| Telecom Italia SpA/Milano<sup>(a)(b)</sup> | &nbsp;&nbsp; 10513478 | 2576983 |
| Tenaris SA, NVS | &nbsp;&nbsp; 570720 | 9055516 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 1660734 | 13829352 |
| UniCredit SpA | &nbsp;&nbsp; 1866456 | 76664121 |
| Unipol Gruppo SpA | &nbsp;&nbsp; 445476 | 4799718 |
|  |  | 663953114 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan — 15.9%** | **Japan — 15.9%** | **Japan — 15.9%** |
| 77 Bank Ltd. (The) | &nbsp;&nbsp; 105600 | $3296744 |
| ABC-Mart Inc. | &nbsp;&nbsp; 160500 | 3163731 |
| Activia Properties Inc. | &nbsp;&nbsp; 1003 | 2372783 |
| Adastria Co. Ltd. | &nbsp;&nbsp; 64600 | 1437957 |
| ADEKA Corp. | &nbsp;&nbsp; 142100 | 3016760 |
| Advance Residence Investment Corp. | &nbsp;&nbsp; 1177 | 2469312 |
| Advantest Corp. | &nbsp;&nbsp; 938300 | 41530438 |
| Aeon Co. Ltd. | &nbsp;&nbsp; 759900 | 17338320 |
| Aeon Delight Co. Ltd. | &nbsp;&nbsp; 45200 | 1177976 |
| AEON Financial Service Co. Ltd. | &nbsp;&nbsp; 135500 | 1243917 |
| Aeon Mall Co. Ltd. | &nbsp;&nbsp; 105700 | 1449170 |
| AEON REIT Investment Corp. | &nbsp;&nbsp; 2411 | 2083388 |
| AGC Inc. | &nbsp;&nbsp; 221000 | 7909533 |
| Ai Holdings Corp. | &nbsp;&nbsp; 97800 | 1634913 |
| Aica Kogyo Co. Ltd. | &nbsp;&nbsp; 104300 | 2413862 |
| Aiful Corp. | &nbsp;&nbsp; 694900 | 1801004 |
| Ain Holdings Inc. | &nbsp;&nbsp; 44300 | 1703170 |
| Air Water Inc. | &nbsp;&nbsp; 168500 | 2475445 |
| Aisin Corp. | &nbsp;&nbsp; 189600 | 6396342 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 557700 | 22969011 |
| Alfresa Holdings Corp. | &nbsp;&nbsp; 211000 | 3296322 |
| Alps Alpine Co. Ltd. | &nbsp;&nbsp; 260500 | 2760894 |
| Alps Logistics Co. Ltd. | &nbsp;&nbsp; 21800 | 829746 |
| Amada Co. Ltd. | &nbsp;&nbsp; 351900 | 4132687 |
| Amano Corp. | &nbsp;&nbsp; 107700 | 2730412 |
| Amvis Holdings Inc. | &nbsp;&nbsp; 97800 | 1702728 |
| ANA Holdings Inc. | &nbsp;&nbsp; 194700 | 3724167 |
| Anritsu Corp. | &nbsp;&nbsp; 196300 | 1684776 |
| Aozora Bank Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 172800 | 2872717 |
| Appier Group Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 132400 | 1097629 |
| Arcs Co. Ltd. | &nbsp;&nbsp; 60800 | 1104669 |
| ARE Holdings Inc. | &nbsp;&nbsp; 214700 | 2937505 |
| Ariake Japan Co. Ltd. | &nbsp;&nbsp; 43400 | 1548668 |
| Artience Co. Ltd. | &nbsp;&nbsp; 104500 | 2209769 |
| As One Corp. | &nbsp;&nbsp; 99000 | 2133021 |
| Asahi Group Holdings Ltd. | &nbsp;&nbsp; 582700 | 21451040 |
| Asahi Intecc Co. Ltd. | &nbsp;&nbsp; 266800 | 4229505 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 1492500 | 10762812 |
| Asics Corp. | &nbsp;&nbsp; 831700 | 13573618 |
| ASKUL Corp. | &nbsp;&nbsp; 65700 | 928522 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 2178100 | 25261495 |
| Atom Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 284800 | 1416671 |
| Autobacs Seven Co. Ltd. | &nbsp;&nbsp; 198800 | 2197565 |
| Avex Inc. | &nbsp;&nbsp; 88600 | 886748 |
| Awa Bank Ltd. (The) | &nbsp;&nbsp; 59100 | 1096300 |
| Azbil Corp. | &nbsp;&nbsp; 131800 | 3830001 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 750000 | 15938061 |
| BayCurrent Consulting Inc. | &nbsp;&nbsp; 161300 | 4965558 |
| Bengo4.com Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 22500 | 547152 |
| Bic Camera Inc. | &nbsp;&nbsp; 173600 | 1959105 |
| BIPROGY Inc. | &nbsp;&nbsp; 68700 | 2251199 |
| BML Inc. | &nbsp;&nbsp; 59200 | 1181019 |
| Bridgestone Corp. | &nbsp;&nbsp; 668800 | 27269413 |
| Brother Industries Ltd. | &nbsp;&nbsp; 316200 | 6487271 |
| Calbee Inc. | &nbsp;&nbsp; 100900 | 2316128 |
| Canon Electronics Inc. | &nbsp;&nbsp; 57400 | 876684 |
| Canon Inc. | &nbsp;&nbsp; 1195200 | 37411786 |
| Canon Marketing Japan Inc. | &nbsp;&nbsp; 76600 | 2372028 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 401400 | 8575476 |
| Casio Computer Co. Ltd. | &nbsp;&nbsp; 256500 | 2064465 |
| Central Glass Co. Ltd. | &nbsp;&nbsp; 57900 | 1451805 |
| Central Japan Railway Co. | &nbsp;&nbsp; 895700 | 21117867 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Change Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 131700 | $982870 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 575700 | 5392854 |
| Chiyoda Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 286000 | 585880 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 732400 | 9234480 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 804500 | 35110370 |
| Chugin Financial Group Inc., NVS | &nbsp;&nbsp; 204500 | 2278201 |
| Chugoku Electric Power Co. Inc. (The) | &nbsp;&nbsp; 332000 | 2414539 |
| Citizen Watch Co. Ltd. | &nbsp;&nbsp; 366300 | 2469947 |
| Coca-Cola Bottlers Japan Holdings Inc. | &nbsp;&nbsp; 172675 | 2575054 |
| COLOPL Inc. | &nbsp;&nbsp; 88100 | 358066 |
| Colowide Co. Ltd. | &nbsp;&nbsp; 139400 | 1918931 |
| Comforia Residential REIT Inc. | &nbsp;&nbsp; 1596 | 3311018 |
| COMSYS Holdings Corp. | &nbsp;&nbsp; 101700 | 2189416 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 1179100 | 7431290 |
| Cosmo Energy Holdings Co. Ltd. | &nbsp;&nbsp; 78900 | 4234294 |
| Cosmos Pharmaceutical Corp. | &nbsp;&nbsp; 24100 | 2166801 |
| Create Restaurants Holdings Inc. | &nbsp;&nbsp; 231000 | 1649020 |
| Create SD Holdings Co. Ltd. | &nbsp;&nbsp; 74900 | 1680509 |
| Credit Saison Co. Ltd. | &nbsp;&nbsp; 139200 | 3226545 |
| Curves Holdings Co. Ltd. | &nbsp;&nbsp; 148200 | 813988 |
| CyberAgent Inc. | &nbsp;&nbsp; 410900 | 2656644 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 239400 | 7875832 |
| Daicel Corp. | &nbsp;&nbsp; 271700 | 2641139 |
| Daido Steel Co. Ltd. | &nbsp;&nbsp; 278000 | 2781531 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 357400 | 6468327 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 1114800 | 33990583 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 2246500 | 91494695 |
| Daiichikosho Co. Ltd. | &nbsp;&nbsp; 109400 | 1320446 |
| Daikin Industries Ltd. | &nbsp;&nbsp; 321200 | 46576105 |
| Daio Paper Corp. | &nbsp;&nbsp; 115500 | 689352 |
| Daiseki Co. Ltd. | &nbsp;&nbsp; 85360 | 2043371 |
| Daishi Hokuetsu Financial Group Inc. | &nbsp;&nbsp; 59800 | 2382768 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 72500 | 8718857 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 678200 | 19205527 |
| Daiwa House REIT Investment Corp. | &nbsp;&nbsp; 3378 | 5436266 |
| Daiwa Office Investment Corp. | &nbsp;&nbsp; 1306 | 2558411 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 1591400 | 13138747 |
| Daiwa Securities Living Investments Corp. | &nbsp;&nbsp; 4027 | 2739236 |
| Daiwabo Holdings Co. Ltd. | &nbsp;&nbsp; 136600 | 2574047 |
| DCM Holdings Co. Ltd. | &nbsp;&nbsp; 189700 | 1831091 |
| DeNA Co. Ltd. | &nbsp;&nbsp; 119200 | 1232241 |
| Denka Co. Ltd. | &nbsp;&nbsp; 126600 | 1844942 |
| Denso Corp. | &nbsp;&nbsp; 2276500 | 37332338 |
| Dentsu Group Inc. | &nbsp;&nbsp; 216500 | 5724955 |
| Descente Ltd. | &nbsp;&nbsp; 55200 | 1457636 |
| Dexerials Corp. | &nbsp;&nbsp; 76000 | 3648660 |
| DIC Corp. | &nbsp;&nbsp; 118600 | 2439763 |
| Digital Arts Inc. | &nbsp;&nbsp; 27800 | 882575 |
| Digital Garage Inc.<sup>(a)</sup> | &nbsp;&nbsp; 53500 | 995058 |
| Dip Corp. | &nbsp;&nbsp; 76400 | 1570726 |
| Disco Corp. | &nbsp;&nbsp; 114100 | 38154646 |
| DMG Mori Co. Ltd. | &nbsp;&nbsp; 152600 | 3882833 |
| Doutor Nichires Holdings Co. Ltd. | &nbsp;&nbsp; 82400 | 1278800 |
| Dowa Holdings Co. Ltd. | &nbsp;&nbsp; 63000 | 2312111 |
| Duskin Co. Ltd. | &nbsp;&nbsp; 72100 | 1895656 |
| DyDo Group Holdings Inc. | &nbsp;&nbsp; 54900 | 993379 |
| Earth Corp. | &nbsp;&nbsp; 39700 | 1330632 |
| East Japan Railway Co. | &nbsp;&nbsp; 1065000 | 20291876 |
| Ebara Corp. | &nbsp;&nbsp; 561500 | 8040968 |
| EDION Corp. | &nbsp;&nbsp; 148500 | 1730209 |
| Eisai Co. Ltd. | &nbsp;&nbsp; 298600 | 11387387 |
| Eizo Corp. | &nbsp;&nbsp; 43500 | 1407697 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Electric Power Development Co. Ltd. | &nbsp;&nbsp; 145500 | $2405234 |
| en Japan Inc. | &nbsp;&nbsp; 45900 | 859287 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 3449800 | 18075367 |
| Euglena Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 294500 | 1084004 |
| Exedy Corp. | &nbsp;&nbsp; 83600 | 1775048 |
| EXEO Group Inc. | &nbsp;&nbsp; 212000 | 2312389 |
| Ezaki Glico Co. Ltd. | &nbsp;&nbsp; 91800 | 2819530 |
| Fancl Corp. | &nbsp;&nbsp; 110600 | 2142045 |
| FANUC Corp. | &nbsp;&nbsp; 1140400 | 33809155 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 213400 | 58823441 |
| FCC Co. Ltd. | &nbsp;&nbsp; 70500 | 1099831 |
| Ferrotec Holdings Corp. | &nbsp;&nbsp; 100700 | 1669798 |
| Financial Products Group Co. Ltd. | &nbsp;&nbsp; 157900 | 2742374 |
| Food & Life Companies Ltd. | &nbsp;&nbsp; 137600 | 2411313 |
| FP Corp. | &nbsp;&nbsp; 72400 | 1248809 |
| Freee KK<sup>(a)(b)</sup> | &nbsp;&nbsp; 67700 | 1109205 |
| Frontier Real Estate Investment Corp. | &nbsp;&nbsp; 796 | 2307531 |
| Fuji Co. Ltd./Ehime | &nbsp;&nbsp; 73700 | 969434 |
| Fuji Corp./Aichi | &nbsp;&nbsp; 110200 | 1842859 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 161800 | 9100748 |
| Fuji Oil Holdings Inc. | &nbsp;&nbsp; 78000 | 1628601 |
| Fuji Seal International Inc. | &nbsp;&nbsp; 78000 | 1246959 |
| Fuji Soft Inc. | &nbsp;&nbsp; 76200 | 3650763 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 1349000 | 32073725 |
| Fujikura Ltd. | &nbsp;&nbsp; 302600 | 6062172 |
| Fujitec Co. Ltd. | &nbsp;&nbsp; 104800 | 3031364 |
| Fujitsu General Ltd. | &nbsp;&nbsp; 99200 | 1301507 |
| Fujitsu Ltd. | &nbsp;&nbsp; 2107200 | 38267085 |
| Fukuoka Financial Group Inc. | &nbsp;&nbsp; 178800 | 5015135 |
| Fukuoka REIT Corp. | &nbsp;&nbsp; 1596 | 1670908 |
| Fukuyama Transporting Co. Ltd. | &nbsp;&nbsp; 33400 | 900936 |
| Funai Soken Holdings Inc. | &nbsp;&nbsp; 83600 | 1219888 |
| Furukawa Electric Co. Ltd. | &nbsp;&nbsp; 102100 | 2793124 |
| Fuyo General Lease Co. Ltd. | &nbsp;&nbsp; 26400 | 2157757 |
| Global One Real Estate Investment Corp. | &nbsp;&nbsp; 3035 | 2051054 |
| Glory Ltd. | &nbsp;&nbsp; 72000 | 1308901 |
| GLP J-REIT | &nbsp;&nbsp; 4798 | 4203448 |
| GMO internet group Inc. | &nbsp;&nbsp; 122800 | 2034606 |
| GMO Payment Gateway Inc. | &nbsp;&nbsp; 48300 | 2768763 |
| GNI Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 80100 | 1226048 |
| Goldwin Inc. | &nbsp;&nbsp; 32000 | 1970813 |
| Gree Inc. | &nbsp;&nbsp; 177000 | 625806 |
| GS Yuasa Corp. | &nbsp;&nbsp; 112900 | 2008860 |
| GungHo Online Entertainment Inc. | &nbsp;&nbsp; 81710 | 1597514 |
| Gunma Bank Ltd. (The) | &nbsp;&nbsp; 625600 | 4244116 |
| Gunze Ltd. | &nbsp;&nbsp; 30600 | 1136230 |
| H.U. Group Holdings Inc. | &nbsp;&nbsp; 133700 | 2352919 |
| H2O Retailing Corp. | &nbsp;&nbsp; 166800 | 2901423 |
| Hachijuni Bank Ltd. (The) | &nbsp;&nbsp; 420700 | 2998578 |
| Hakuhodo DY Holdings Inc. | &nbsp;&nbsp; 289400 | 2363337 |
| Hamamatsu Photonics KK | &nbsp;&nbsp; 148900 | 4288162 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 252000 | 7190550 |
| Hankyu Hanshin REIT Inc. | &nbsp;&nbsp; 1711 | 1519623 |
| Hanwa Co. Ltd. | &nbsp;&nbsp; 42400 | 1638866 |
| Harmonic Drive Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 74000 | 2033663 |
| Haseko Corp. | &nbsp;&nbsp; 263000 | 3282098 |
| Hazama Ando Corp. | &nbsp;&nbsp; 305300 | 2467159 |
| Heiwa Corp. | &nbsp;&nbsp; 82100 | 1177845 |
| Heiwa Real Estate Co. Ltd. | &nbsp;&nbsp; 61400 | 1764841 |
| Heiwa Real Estate REIT Inc. | &nbsp;&nbsp; 2416 | 2115973 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 21500 | 4025967 |
| Hino Motors Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 341700 | 1103904 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Hirata Corp. | &nbsp;&nbsp; 17800 | $736787 |
| Hirogin Holdings Inc. | &nbsp;&nbsp; 422100 | 3426256 |
| Hirose Electric Co. Ltd. | &nbsp;&nbsp; 33405 | 4182432 |
| HIS Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 103100 | 1189276 |
| Hisamitsu Pharmaceutical Co. Inc. | &nbsp;&nbsp; 70600 | 1944593 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 91000 | 2266548 |
| Hitachi Ltd. | &nbsp;&nbsp; 5616500 | 121353821 |
| Hitachi Zosen Corp. | &nbsp;&nbsp; 339400 | 2464019 |
| Hogy Medical Co. Ltd. | &nbsp;&nbsp; 55200 | 1518510 |
| Hokkaido Electric Power Co. Inc. | &nbsp;&nbsp; 225700 | 1534731 |
| Hokkoku Financial Holdings Inc. | &nbsp;&nbsp; 34200 | 1287726 |
| Hokuetsu Corp.<sup>(a)</sup> | &nbsp;&nbsp; 170100 | 1316773 |
| Hokuhoku Financial Group Inc. | &nbsp;&nbsp; 185100 | 2588541 |
| Hokuriku Electric Power Co. | &nbsp;&nbsp; 256700 | 1645312 |
| Hokuto Corp. | &nbsp;&nbsp; 59400 | 758490 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 5490100 | 58659371 |
| Horiba Ltd. | &nbsp;&nbsp; 44900 | 3553620 |
| Hoshino Resorts REIT Inc. | &nbsp;&nbsp; 617 | 2134516 |
| Hoshizaki Corp. | &nbsp;&nbsp; 110900 | 3492663 |
| House Foods Group Inc. | &nbsp;&nbsp; 98200 | 1937235 |
| Hoya Corp. | &nbsp;&nbsp; 424600 | 53202691 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 373400 | 3644796 |
| Hulic REIT Inc. | &nbsp;&nbsp; 2602 | 2476718 |
| Hyakugo Bank Ltd. (The) | &nbsp;&nbsp; 611800 | 2739255 |
| Ibiden Co. Ltd. | &nbsp;&nbsp; 146600 | 5682535 |
| Ichigo Inc. | &nbsp;&nbsp; 403400 | 1137279 |
| Ichigo Office REIT Investment Corp. | &nbsp;&nbsp; 3108 | 1735594 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 1189175 | 7832281 |
| IHI Corp. | &nbsp;&nbsp; 157100 | 5731106 |
| Iida Group Holdings Co. Ltd. | &nbsp;&nbsp; 137600 | 2068355 |
| Inaba Denki Sangyo Co. Ltd. | &nbsp;&nbsp; 117700 | 3085933 |
| Industrial & Infrastructure Fund Investment Corp. | &nbsp;&nbsp; 5253 | 4335125 |
| Infomart Corp. | &nbsp;&nbsp; 351300 | 752297 |
| Infroneer Holdings Inc. | &nbsp;&nbsp; 228076 | 1977776 |
| Inpex Corp. | &nbsp;&nbsp; 1139400 | 17594028 |
| Insource Co. Ltd. | &nbsp;&nbsp; 139800 | 819787 |
| Internet Initiative Japan Inc. | &nbsp;&nbsp; 152800 | 2584084 |
| Invincible Investment Corp. | &nbsp;&nbsp; 7226 | 3273016 |
| Iriso Electronics Co. Ltd. | &nbsp;&nbsp; 32400 | 651213 |
| Isetan Mitsukoshi Holdings Ltd. | &nbsp;&nbsp; 424000 | 8435608 |
| Isuzu Motors Ltd. | &nbsp;&nbsp; 652200 | 8822392 |
| Ito En Ltd. | &nbsp;&nbsp; 82900 | 1965376 |
| ITOCHU Corp. | &nbsp;&nbsp; 1433700 | 73525048 |
| Itoham Yonekyu Holdings Inc. | &nbsp;&nbsp; 47100 | 1390281 |
| Iwatani Corp. | &nbsp;&nbsp; 47900 | 3039787 |
| Iyogin Holdings Inc., NVS | &nbsp;&nbsp; 329000 | 3305527 |
| Izumi Co. Ltd. | &nbsp;&nbsp; 37400 | 891108 |
| J Front Retailing Co. Ltd. | &nbsp;&nbsp; 237400 | 2875693 |
| Jaccs Co. Ltd. | &nbsp;&nbsp; 62100 | 2016150 |
| JAFCO Group Co. Ltd. | &nbsp;&nbsp; 102700 | 1299929 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 142400 | 2307289 |
| Japan Airport Terminal Co. Ltd. | &nbsp;&nbsp; 49300 | 1799660 |
| Japan Aviation Electronics Industry Ltd. | &nbsp;&nbsp; 73100 | 1225038 |
| Japan Elevator Service Holdings Co. Ltd. | &nbsp;&nbsp; 155800 | 2875030 |
| Japan Excellent Inc. | &nbsp;&nbsp; 2042 | 1624382 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 600000 | 14087046 |
| Japan Hotel REIT Investment Corp. | &nbsp;&nbsp; 5151 | 2631236 |
| Japan Lifeline Co. Ltd. | &nbsp;&nbsp; 133300 | 1032354 |
| Japan Logistics Fund Inc. | &nbsp;&nbsp; 1217 | 2082031 |
| Japan Material Co. Ltd. | &nbsp;&nbsp; 142800 | 1894586 |
| Japan Metropolitan Fund Invest | &nbsp;&nbsp; 8253 | 5153157 |
| Japan Petroleum Exploration Co. Ltd. | &nbsp;&nbsp; 47800 | 1970922 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 1722600 | $17925663 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 2497400 | 26448610 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 221700 | 4564257 |
| Japan Prime Realty Investment Corp. | &nbsp;&nbsp; 1370 | 2980770 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 1257 | 4359913 |
| Japan Securities Finance Co. Ltd. | &nbsp;&nbsp; 224600 | 2559433 |
| Japan Steel Works Ltd. (The) | &nbsp;&nbsp; 90000 | 2559176 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 1452900 | 42751842 |
| JCR Pharmaceuticals Co. Ltd. | &nbsp;&nbsp; 126700 | 494363 |
| Jeol Ltd. | &nbsp;&nbsp; 62500 | 2516395 |
| JFE Holdings Inc. | &nbsp;&nbsp; 710600 | 10409124 |
| JGC Holdings Corp. | &nbsp;&nbsp; 286900 | 2436555 |
| JINS Holdings Inc. | &nbsp;&nbsp; 21500 | 659960 |
| JMDC Inc.<sup>(a)</sup> | &nbsp;&nbsp; 36400 | 807878 |
| JTEKT Corp. | &nbsp;&nbsp; 240900 | 1731634 |
| Juroku Financial Group Inc. | &nbsp;&nbsp; 57400 | 1841953 |
| Justsystems Corp. | &nbsp;&nbsp; 56900 | 1203794 |
| JVCKenwood Corp. | &nbsp;&nbsp; 214400 | 1313588 |
| Kadokawa Corp. | &nbsp;&nbsp; 147736 | 2732047 |
| Kagome Co. Ltd. | &nbsp;&nbsp; 120300 | 2809918 |
| Kajima Corp. | &nbsp;&nbsp; 488800 | 9445335 |
| Kakaku.com Inc. | &nbsp;&nbsp; 189800 | 2653307 |
| Kaken Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 65000 | 1769054 |
| Kamigumi Co. Ltd. | &nbsp;&nbsp; 127100 | 2898620 |
| Kanamoto Co. Ltd. | &nbsp;&nbsp; 75100 | 1403323 |
| Kandenko Co. Ltd. | &nbsp;&nbsp; 169500 | 2289314 |
| Kaneka Corp. | &nbsp;&nbsp; 65700 | 1857595 |
| Kanematsu Corp. | &nbsp;&nbsp; 161000 | 2726876 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 845600 | 14473114 |
| Kansai Paint Co. Ltd. | &nbsp;&nbsp; 193900 | 3184496 |
| Kao Corp. | &nbsp;&nbsp; 567400 | 24846259 |
| Kasumigaseki Capital Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 9600 | 829313 |
| Katitas Co. Ltd. | &nbsp;&nbsp; 76000 | 952698 |
| Kawasaki Heavy Industries Ltd. | &nbsp;&nbsp; 176200 | 6465063 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 493300 | 7579628 |
| KDDI Corp. | &nbsp;&nbsp; 1807900 | 54399721 |
| KDX Realty Investment Corp. | &nbsp;&nbsp; 5885 | 6067289 |
| Keihan Holdings Co. Ltd. | &nbsp;&nbsp; 92900 | 1893670 |
| Keikyu Corp. | &nbsp;&nbsp; 312800 | 2473219 |
| Keio Corp. | &nbsp;&nbsp; 103700 | 2596535 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 173500 | 5189222 |
| Keiyo Bank Ltd. (The) | &nbsp;&nbsp; 226400 | 1274080 |
| Kewpie Corp. | &nbsp;&nbsp; 176700 | 4538844 |
| Keyence Corp. | &nbsp;&nbsp; 235300 | 102887307 |
| KH Neochem Co. Ltd. | &nbsp;&nbsp; 90800 | 1354328 |
| Kikkoman Corp. | &nbsp;&nbsp; 788200 | 9863490 |
| Kinden Corp. | &nbsp;&nbsp; 99100 | 2090818 |
| Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp; 214100 | 4958595 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 901900 | 12750676 |
| Kisoji Co. Ltd. | &nbsp;&nbsp; 74100 | 1307276 |
| Kissei Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 80500 | 1871800 |
| Kiyo Bank Ltd. (The) | &nbsp;&nbsp; 88300 | 1154924 |
| Kobayashi Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 67300 | 2707185 |
| Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 159800 | 4290446 |
| Kobe Steel Ltd. | &nbsp;&nbsp; 430700 | 5376142 |
| Koei Tecmo Holdings Co. Ltd. | &nbsp;&nbsp; 143760 | 1404958 |
| Koito Manufacturing Co. Ltd. | &nbsp;&nbsp; 199100 | 2943953 |
| Kokuyo Co. Ltd. | &nbsp;&nbsp; 167000 | 2802247 |
| Komatsu Ltd. | &nbsp;&nbsp; 1091900 | 31040069 |
| KOMEDA Holdings Co. Ltd. | &nbsp;&nbsp; 137400 | 2463252 |
| Komeri Co. Ltd. | &nbsp;&nbsp; 53400 | 1307399 |
| Konami Group Corp. | &nbsp;&nbsp; 114100 | 8584836 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Konica Minolta Inc. | &nbsp;&nbsp; 583300 | $1710150 |
| Kose Corp. | &nbsp;&nbsp; 48100 | 3214341 |
| Koshidaka Holdings Co. Ltd. | &nbsp;&nbsp; 146500 | 986128 |
| Kotobuki Spirits Co. Ltd. | &nbsp;&nbsp; 188000 | 2414312 |
| K's Holdings Corp. | &nbsp;&nbsp; 226100 | 2440355 |
| Kubota Corp. | &nbsp;&nbsp; 1196100 | 17196223 |
| Kumagai Gumi Co. Ltd. | &nbsp;&nbsp; 56900 | 1363748 |
| Kumiai Chemical Industry Co. Ltd. | &nbsp;&nbsp; 189800 | 998465 |
| Kura Sushi Inc. | &nbsp;&nbsp; 56800 | 1470986 |
| Kuraray Co. Ltd. | &nbsp;&nbsp; 322900 | 3948754 |
| Kureha Corp. | &nbsp;&nbsp; 111900 | 2222707 |
| Kurita Water Industries Ltd. | &nbsp;&nbsp; 106300 | 4536756 |
| Kusuri no Aoki Holdings Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 83400 | 1737514 |
| KYB Corp. | &nbsp;&nbsp; 38800 | 1347897 |
| Kyocera Corp. | &nbsp;&nbsp; 1522000 | 19169531 |
| Kyorin Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 115000 | 1314323 |
| Kyoritsu Maintenance Co. Ltd. | &nbsp;&nbsp; 82400 | 1599714 |
| Kyoto Financial Group Inc. | &nbsp;&nbsp; 262800 | 4908421 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 298400 | 6294031 |
| Kyudenko Corp. | &nbsp;&nbsp; 74200 | 3417727 |
| Kyushu Electric Power Co. Inc. | &nbsp;&nbsp; 387000 | 4085004 |
| Kyushu Financial Group Inc. | &nbsp;&nbsp; 379400 | 2336950 |
| Kyushu Railway Co. | &nbsp;&nbsp; 192500 | 5138244 |
| LaSalle Logiport REIT | &nbsp;&nbsp; 2632 | 2596818 |
| Lasertec Corp. | &nbsp;&nbsp; 99600 | 17672342 |
| Leopalace21 Corp. | &nbsp;&nbsp; 325500 | 1195747 |
| Lintec Corp. | &nbsp;&nbsp; 100200 | 2252902 |
| Lion Corp. | &nbsp;&nbsp; 258800 | 2239590 |
| Lixil Corp. | &nbsp;&nbsp; 287700 | 3330463 |
| LY Corp. | &nbsp;&nbsp; 3105600 | 7769947 |
| M&A Capital Partners Co. Ltd. | &nbsp;&nbsp; 35400 | 501395 |
| M&A Research Institute Holdings Inc., NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 40900 | 823854 |
| M3 Inc. | &nbsp;&nbsp; 506400 | 4728386 |
| Mabuchi Motor Co. Ltd. | &nbsp;&nbsp; 166000 | 2551811 |
| Macnica Holdings Inc. | &nbsp;&nbsp; 69600 | 2808923 |
| Makino Milling Machine Co. Ltd. | &nbsp;&nbsp; 49700 | 2229846 |
| Makita Corp. | &nbsp;&nbsp; 243700 | 8032943 |
| Mandom Corp. | &nbsp;&nbsp; 50500 | 427930 |
| Mani Inc. | &nbsp;&nbsp; 124800 | 1755367 |
| Marubeni Corp. | &nbsp;&nbsp; 1735300 | 32657934 |
| Maruha Nichiro Corp. | &nbsp;&nbsp; 85300 | 1907502 |
| Marui Group Co. Ltd. | &nbsp;&nbsp; 166800 | 2702465 |
| Maruichi Steel Tube Ltd. | &nbsp;&nbsp; 106600 | 2597753 |
| Maruwa Co. Ltd./Aichi | &nbsp;&nbsp; 15400 | 4125891 |
| Matsui Securities Co. Ltd. | &nbsp;&nbsp; 346200 | 1940584 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 436490 | 7118232 |
| Maxell Ltd. | &nbsp;&nbsp; 110600 | 1269112 |
| Mazda Motor Corp. | &nbsp;&nbsp; 705700 | 6086956 |
| McDonald's Holdings Co. Japan Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 116700 | 4834781 |
| MCJ Co. Ltd. | &nbsp;&nbsp; 189700 | 1725854 |
| Mebuki Financial Group Inc. | &nbsp;&nbsp; 1145350 | 4767464 |
| Medipal Holdings Corp. | &nbsp;&nbsp; 152800 | 2758080 |
| Medley Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 42600 | 1163284 |
| Megachips Corp. | &nbsp;&nbsp; 43900 | 1230361 |
| Megmilk Snow Brand Co. Ltd. | &nbsp;&nbsp; 61200 | 1164050 |
| Meidensha Corp. | &nbsp;&nbsp; 68900 | 1573327 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 271300 | 6851510 |
| Meiko Electronics Co. Ltd. | &nbsp;&nbsp; 42600 | 1707708 |
| MEITEC Group Holdings Inc. | &nbsp;&nbsp; 163200 | 3685068 |
| Menicon Co. Ltd. | &nbsp;&nbsp; 109600 | 1024968 |
| Mercari Inc.<sup>(b)</sup> | &nbsp;&nbsp; 188300 | 2823029 |
| Micronics Japan Co. Ltd. | &nbsp;&nbsp; 35200 | 1398713 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Milbon Co. Ltd. | &nbsp;&nbsp; 62400 | $1387889 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 379272 | 9123128 |
| Mirai Corp. | &nbsp;&nbsp; 5610 | 1672741 |
| Mirait One Corp. | &nbsp;&nbsp; 166700 | 2369047 |
| MISUMI Group Inc. | &nbsp;&nbsp; 333100 | 6129917 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 1516200 | 8955048 |
| Mitsubishi Corp. | &nbsp;&nbsp; 4097200 | 84615594 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 2346800 | 39101832 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 1363500 | 23239395 |
| Mitsubishi Estate Logistics REIT Investment Corp. | &nbsp;&nbsp; 1063 | 2679679 |
| Mitsubishi Gas Chemical Co. Inc. | &nbsp;&nbsp; 138600 | 2620236 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 941990 | 6777069 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 3908600 | 46848775 |
| Mitsubishi Logistics Corp. | &nbsp;&nbsp; 86600 | 3029165 |
| Mitsubishi Materials Corp. | &nbsp;&nbsp; 99800 | 1869892 |
| Mitsubishi Motors Corp. | &nbsp;&nbsp; 795400 | 2267436 |
| Mitsubishi Pencil Co. Ltd. | &nbsp;&nbsp; 64500 | 1000833 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 13460700 | 155475802 |
| Mitsuboshi Belting Ltd. | &nbsp;&nbsp; 61100 | 1792432 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 3137800 | 72809152 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 203900 | 5895159 |
| Mitsui E&S Co. Ltd. | &nbsp;&nbsp; 116600 | 1015091 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 3198600 | 33137047 |
| Mitsui Fudosan Logistics Park Inc. | &nbsp;&nbsp; 1225 | 3451678 |
| Mitsui High-Tec Inc. | &nbsp;&nbsp; 174500 | 1361270 |
| Mitsui Mining & Smelting Co. Ltd. | &nbsp;&nbsp; 104600 | 3487208 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 419600 | 13327818 |
| Miura Co. Ltd. | &nbsp;&nbsp; 94100 | 2185631 |
| Mixi Inc. | &nbsp;&nbsp; 60000 | 1190797 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 2902050 | 66341282 |
| Mizuho Leasing Co. Ltd. | &nbsp;&nbsp; 315000 | 2376928 |
| Mochida Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 62800 | 1475062 |
| Monex Group Inc. | &nbsp;&nbsp; 335400 | 1630550 |
| Money Forward Inc.<sup>(b)</sup> | &nbsp;&nbsp; 68400 | 2285649 |
| MonotaRO Co. Ltd. | &nbsp;&nbsp; 270400 | 3822455 |
| Mori Hills REIT Investment Corp. | &nbsp;&nbsp; 2155 | 1852017 |
| Mori Trust REIT Inc. | &nbsp;&nbsp; 3376 | 1568933 |
| Morinaga & Co. Ltd./Japan | &nbsp;&nbsp; 174100 | 3341351 |
| Morinaga Milk Industry Co. Ltd. | &nbsp;&nbsp; 87000 | 2087855 |
| MOS Food Services Inc. | &nbsp;&nbsp; 70500 | 1662322 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 1545600 | 36436803 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 2051900 | 45650617 |
| Musashi Seimitsu Industry Co. Ltd. | &nbsp;&nbsp; 114200 | 1595571 |
| Musashino Bank Ltd. (The) | &nbsp;&nbsp; 58000 | 1248655 |
| Nabtesco Corp. | &nbsp;&nbsp; 147400 | 2918060 |
| Nachi-Fujikoshi Corp. | &nbsp;&nbsp; 21300 | 470692 |
| Nagase & Co. Ltd. | &nbsp;&nbsp; 151000 | 3317291 |
| Nagoya Railroad Co. Ltd. | &nbsp;&nbsp; 283200 | 3446508 |
| Nakanishi Inc. | &nbsp;&nbsp; 125300 | 2164529 |
| Namura Shipbuilding Co. Ltd. | &nbsp;&nbsp; 59100 | 766447 |
| Nankai Electric Railway Co. Ltd. | &nbsp;&nbsp; 99600 | 1762681 |
| Nanto Bank Ltd. (The) | &nbsp;&nbsp; 47600 | 1110749 |
| NEC Corp. | &nbsp;&nbsp; 301800 | 26122189 |
| NEC Networks & System Integration Corp. | &nbsp;&nbsp; 135100 | 2488206 |
| NET One Systems Co. Ltd. | &nbsp;&nbsp; 95200 | 1923637 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 391600 | 8434556 |
| Nextage Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 82000 | 1116426 |
| NGK Insulators Ltd. | &nbsp;&nbsp; 220500 | 2980061 |
| NH Foods Ltd. | &nbsp;&nbsp; 65800 | 2173449 |
| NHK Spring Co. Ltd. | &nbsp;&nbsp; 225300 | 2477776 |
| Nichias Corp. | &nbsp;&nbsp; 118200 | 3681797 |
| Nichiha Corp. | &nbsp;&nbsp; 60600 | 1515251 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Nichirei Corp. | &nbsp;&nbsp; 103500 | $2729064 |
| Nidec Corp. | &nbsp;&nbsp; 509200 | 22400047 |
| Nifco Inc./Japan | &nbsp;&nbsp; 107200 | 2718076 |
| Nihon Kohden Corp. | &nbsp;&nbsp; 171600 | 2644254 |
| Nihon M&A Center Holdings Inc. | &nbsp;&nbsp; 463300 | 2186629 |
| Nihon Parkerizing Co. Ltd. | &nbsp;&nbsp; 159200 | 1314517 |
| Nikkon Holdings Co. Ltd. | &nbsp;&nbsp; 95100 | 2398611 |
| Nikon Corp. | &nbsp;&nbsp; 320800 | 3684593 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 1258100 | 69520579 |
| Nippn Corp., New | &nbsp;&nbsp; 146400 | 2301372 |
| Nippon Accommodations Fund Inc. | &nbsp;&nbsp; 396 | 1694481 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 1701 | 6564585 |
| Nippon Carbon Co. Ltd. | &nbsp;&nbsp; 24900 | 823054 |
| Nippon Electric Glass Co. Ltd. | &nbsp;&nbsp; 93100 | 2221542 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 74900 | 3706116 |
| Nippon Gas Co. Ltd. | &nbsp;&nbsp; 165800 | 2584481 |
| Nippon Kayaku Co. Ltd. | &nbsp;&nbsp; 229500 | 1919220 |
| Nippon Light Metal Holdings Co. Ltd. | &nbsp;&nbsp; 93090 | 1094091 |
| Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp; 1134500 | 7242050 |
| Nippon Paper Industries Co. Ltd. | &nbsp;&nbsp; 139700 | 904644 |
| Nippon Prologis REIT Inc. | &nbsp;&nbsp; 2081 | 3438223 |
| Nippon REIT Investment Corp. | &nbsp;&nbsp; 970 | 2131682 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 202600 | 6621320 |
| Nippon Shinyaku Co. Ltd. | &nbsp;&nbsp; 60600 | 1385650 |
| Nippon Shokubai Co. Ltd. | &nbsp;&nbsp; 183100 | 1985382 |
| Nippon Soda Co. Ltd. | &nbsp;&nbsp; 63300 | 2275968 |
| Nippon Steel Corp. | &nbsp;&nbsp; 1027017 | 22298997 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 35582900 | 37921166 |
| Nippon Yusen KK | &nbsp;&nbsp; 570600 | 18386946 |
| Nipro Corp. | &nbsp;&nbsp; 212400 | 1854749 |
| Nishimatsu Construction Co. Ltd. | &nbsp;&nbsp; 68500 | 2232653 |
| Nishimatsuya Chain Co. Ltd. | &nbsp;&nbsp; 113600 | 1730334 |
| Nishi-Nippon Financial Holdings Inc. | &nbsp;&nbsp; 200400 | 2728586 |
| Nishi-Nippon Railroad Co. Ltd. | &nbsp;&nbsp; 85800 | 1424669 |
| Nishio Holdings Co. Ltd. | &nbsp;&nbsp; 53800 | 1461733 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 138600 | 4472060 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 2727700 | 8658059 |
| Nissan Shatai Co. Ltd. | &nbsp;&nbsp; 68900 | 430054 |
| Nissha Co. Ltd. | &nbsp;&nbsp; 71700 | 874845 |
| Nisshin Oillio Group Ltd. (The) | &nbsp;&nbsp; 59000 | 2036009 |
| Nisshin Seifun Group Inc. | &nbsp;&nbsp; 218600 | 2705051 |
| Nisshinbo Holdings Inc. | &nbsp;&nbsp; 229800 | 1683964 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 224800 | 6683929 |
| Nissui Corp. | &nbsp;&nbsp; 542300 | 3255105 |
| Niterra Co. Ltd. | &nbsp;&nbsp; 173700 | 5144681 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 96600 | 11813739 |
| Nitto Boseki Co. Ltd. | &nbsp;&nbsp; 41200 | 1559236 |
| Nitto Denko Corp. | &nbsp;&nbsp; 177100 | 15378207 |
| Nitto Kogyo Corp. | &nbsp;&nbsp; 75000 | 1705225 |
| Noevir Holdings Co. Ltd. | &nbsp;&nbsp; 45600 | 1763088 |
| NOF Corp. | &nbsp;&nbsp; 205200 | 2940614 |
| Nojima Corp. | &nbsp;&nbsp; 115800 | 1273429 |
| NOK Corp. | &nbsp;&nbsp; 117800 | 1721870 |
| Nomura Co. Ltd. | &nbsp;&nbsp; 132200 | 767750 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 3611700 | 22268325 |
| Nomura Micro Science Co. Ltd. | &nbsp;&nbsp; 32600 | 776261 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 105900 | 2960403 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 4575 | 4488300 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 421520 | 13013035 |
| Noritz Corp. | &nbsp;&nbsp; 72800 | 911351 |
| North Pacific Bank Ltd. | &nbsp;&nbsp; 524500 | 1778502 |
| NS Solutions Corp. | &nbsp;&nbsp; 141000 | 3233488 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| NSD Co. Ltd. | &nbsp;&nbsp; 147000 | $3026069 |
| NSK Ltd. | &nbsp;&nbsp; 409400 | 2146445 |
| NTN Corp. | &nbsp;&nbsp; 733000 | 1482817 |
| NTT Data Group Corp. | &nbsp;&nbsp; 742600 | 11565562 |
| NTT UD REIT Investment Corp. | &nbsp;&nbsp; 2863 | 2217884 |
| Nxera Pharma Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 129600 | 1450149 |
| Obayashi Corp. | &nbsp;&nbsp; 739700 | 9711760 |
| OBIC Business Consultants Co. Ltd. | &nbsp;&nbsp; 36900 | 1561712 |
| Obic Co. Ltd. | &nbsp;&nbsp; 78800 | 12015666 |
| Odakyu Electric Railway Co. Ltd. | &nbsp;&nbsp; 345800 | 3498517 |
| Ogaki Kyoritsu Bank Ltd. (The) | &nbsp;&nbsp; 78300 | 1211350 |
| Ohsho Food Service Corp. | &nbsp;&nbsp; 34500 | 2110259 |
| Oiles Corp. | &nbsp;&nbsp; 61700 | 965963 |
| Oji Holdings Corp. | &nbsp;&nbsp; 783500 | 3336894 |
| Okamoto Industries Inc. | &nbsp;&nbsp; 26300 | 903272 |
| Okamura Corp. | &nbsp;&nbsp; 148400 | 2183312 |
| Okasan Securities Group Inc. | &nbsp;&nbsp; 341300 | 1652496 |
| Oki Electric Industry Co. Ltd. | &nbsp;&nbsp; 157400 | 1068187 |
| Okinawa Electric Power Co. Inc. (The) | &nbsp;&nbsp; 84532 | 624172 |
| OKUMA Corp. | &nbsp;&nbsp; 33600 | 1678318 |
| Okumura Corp. | &nbsp;&nbsp; 85200 | 2909107 |
| Olympus Corp. | &nbsp;&nbsp; 1433700 | 24751516 |
| Omron Corp. | &nbsp;&nbsp; 217500 | 8067912 |
| One REIT Inc. | &nbsp;&nbsp; 659 | 1137083 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 437600 | 6455617 |
| Open House Group Co. Ltd. | &nbsp;&nbsp; 82800 | 2932676 |
| Optex Group Co. Ltd. | &nbsp;&nbsp; 89200 | 1016930 |
| Optorun Co. Ltd. | &nbsp;&nbsp; 70300 | 918089 |
| Oracle Corp./Japan | &nbsp;&nbsp; 35500 | 2897836 |
| Organo Corp. | &nbsp;&nbsp; 51200 | 2322181 |
| Orient Corp. | &nbsp;&nbsp; 119780 | 839923 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 1307600 | 37435938 |
| ORIX Corp. | &nbsp;&nbsp; 1371500 | 33176091 |
| Orix JREIT Inc. | &nbsp;&nbsp; 2556 | 2661079 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 400900 | 9074028 |
| Osaka Soda Co. Ltd. | &nbsp;&nbsp; 17200 | 1128492 |
| OSAKA Titanium Technologies Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 45300 | 742046 |
| OSG Corp. | &nbsp;&nbsp; 118900 | 1640403 |
| Otsuka Corp. | &nbsp;&nbsp; 239200 | 5302532 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 492000 | 25076404 |
| PALTAC Corp. | &nbsp;&nbsp; 28800 | 883479 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 443100 | 11560128 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 2854000 | 23377623 |
| Paramount Bed Holdings Co. Ltd. | &nbsp;&nbsp; 90300 | 1520464 |
| Park24 Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 200300 | 2142926 |
| Penta-Ocean Construction Co. Ltd. | &nbsp;&nbsp; 361100 | 1603088 |
| PeptiDream Inc.<sup>(b)</sup> | &nbsp;&nbsp; 142200 | 2620447 |
| Persol Holdings Co. Ltd. | &nbsp;&nbsp; 1820400 | 3122175 |
| Pigeon Corp. | &nbsp;&nbsp; 199100 | 2025837 |
| Pilot Corp. | &nbsp;&nbsp; 49700 | 1492882 |
| PKSHA Technology Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 37100 | 811904 |
| Pola Orbis Holdings Inc. | &nbsp;&nbsp; 106500 | 1004393 |
| Prestige International Inc. | &nbsp;&nbsp; 214200 | 1016953 |
| Raito Kogyo Co. Ltd. | &nbsp;&nbsp; 95200 | 1381252 |
| Rakus Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 182100 | 2551301 |
| Rakuten Bank Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 131800 | 2937138 |
| Rakuten Group Inc.<sup>(b)</sup> | &nbsp;&nbsp; 1738100 | 10196867 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 1801200 | 103286736 |
| Relo Group Inc. | &nbsp;&nbsp; 149400 | 1785416 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 1817000 | 31295777 |
| Rengo Co. Ltd. | &nbsp;&nbsp; 213700 | 1490466 |
| RENOVA Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 117500 | 720213 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Resona Holdings Inc. | &nbsp;&nbsp; 2560300 | $18359744 |
| Resonac Holdings Corp. | &nbsp;&nbsp; 193600 | 4806256 |
| Resorttrust Inc. | &nbsp;&nbsp; 114500 | 1932735 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 664000 | 6181378 |
| Ricoh Leasing Co. Ltd. | &nbsp;&nbsp; 31000 | 1128488 |
| Rinnai Corp. | &nbsp;&nbsp; 110400 | 2714521 |
| Rohm Co. Ltd. | &nbsp;&nbsp; 361200 | 4924684 |
| Rohto Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 219600 | 5158165 |
| Rorze Corp. | &nbsp;&nbsp; 14200 | 2309441 |
| Round One Corp. | &nbsp;&nbsp; 376600 | 2242289 |
| Royal Holdings Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 64300 | 1087383 |
| Ryohin Keikaku Co. Ltd. | &nbsp;&nbsp; 282800 | 5332977 |
| Ryoyo Ryosan Holdings Inc. | &nbsp;&nbsp; 41316 | 791755 |
| Saizeriya Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 52300 | 2015295 |
| Sakai Moving Service Co. Ltd. | &nbsp;&nbsp; 50000 | 886249 |
| Sakata Seed Corp. | &nbsp;&nbsp; 84400 | 1946067 |
| Sakura Internet Inc.<sup>(a)</sup> | &nbsp;&nbsp; 26200 | 531490 |
| SAMTY HOLDINGS Co. Ltd. /Japan | &nbsp;&nbsp; 90000 | 1644626 |
| San-A Co. Ltd. | &nbsp;&nbsp; 51100 | 1743698 |
| Sangetsu Corp. | &nbsp;&nbsp; 130600 | 2598358 |
| San-In Godo Bank Ltd. (The) | &nbsp;&nbsp; 195500 | 1859075 |
| Sanken Electric Co. Ltd. | &nbsp;&nbsp; 40800 | 1990997 |
| Sankyo Co. Ltd. | &nbsp;&nbsp; 259000 | 2875929 |
| Sankyu Inc. | &nbsp;&nbsp; 56700 | 1936748 |
| Sanrio Co. Ltd. | &nbsp;&nbsp; 231300 | 4910802 |
| Sansan Inc.<sup>(b)</sup> | &nbsp;&nbsp; 105000 | 1581219 |
| Santen Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 312300 | 3747969 |
| Sanwa Holdings Corp. | &nbsp;&nbsp; 200300 | 4290473 |
| Sapporo Holdings Ltd. | &nbsp;&nbsp; 92700 | 3982861 |
| Sato Holdings Corp. | &nbsp;&nbsp; 52700 | 759396 |
| Sawai Group Holdings Co. Ltd. | &nbsp;&nbsp; 48200 | 2115959 |
| SBI Holdings Inc. | &nbsp;&nbsp; 300100 | 7800690 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 104600 | 8863773 |
| SCSK Corp. | &nbsp;&nbsp; 147700 | 2907904 |
| Secom Co. Ltd. | &nbsp;&nbsp; 245600 | 15682235 |
| Sega Sammy Holdings Inc. | &nbsp;&nbsp; 244200 | 3954543 |
| Seibu Holdings Inc. | &nbsp;&nbsp; 231600 | 4347571 |
| Seiko Epson Corp. | &nbsp;&nbsp; 344900 | 5970361 |
| Seiko Group Corp. | &nbsp;&nbsp; 54000 | 1614025 |
| Seino Holdings Co. Ltd. | &nbsp;&nbsp; 160500 | 2511952 |
| Seiren Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 89200 | 1403696 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 460200 | 6943495 |
| Sekisui House Ltd. | &nbsp;&nbsp; 699800 | 17534416 |
| Sekisui House REIT Inc. | &nbsp;&nbsp; 6309 | 3333765 |
| Seria Co. Ltd. | &nbsp;&nbsp; 95900 | 2242829 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 2731200 | 32705444 |
| Seven Bank Ltd. | &nbsp;&nbsp; 1125000 | 2110551 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 325200 | 3306844 |
| Sharp Corp./Japan<sup>(b)</sup> | &nbsp;&nbsp; 346400 | 2017355 |
| Shibaura Machine Co. Ltd. | &nbsp;&nbsp; 52700 | 1295181 |
| SHIFT Inc.<sup>(b)</sup> | &nbsp;&nbsp; 16300 | 1252119 |
| Shiga Bank Ltd. (The) | &nbsp;&nbsp; 66400 | 1783343 |
| Shikoku Electric Power Co. Inc. | &nbsp;&nbsp; 258300 | 2252743 |
| Shimadzu Corp. | &nbsp;&nbsp; 256600 | 7568232 |
| Shimamura Co. Ltd. | &nbsp;&nbsp; 43400 | 2127075 |
| Shimano Inc. | &nbsp;&nbsp; 93700 | 16622756 |
| Shimizu Corp. | &nbsp;&nbsp; 450900 | 2833882 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 2182200 | 96956616 |
| Shinko Electric Industries Co. Ltd. | &nbsp;&nbsp; 79600 | 3027547 |
| Shinmaywa Industries Ltd. | &nbsp;&nbsp; 117900 | 1159788 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 296000 | 13020765 |
| Ship Healthcare Holdings Inc. | &nbsp;&nbsp; 121500 | 1854650 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Shiseido Co. Ltd. | &nbsp;&nbsp; 478500 | $14953813 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 473100 | 4725461 |
| SHO-BOND Holdings Co. Ltd. | &nbsp;&nbsp; 84800 | 3265865 |
| Shochiku Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 14700 | 941789 |
| Shoei Foods Corp.<sup>(a)</sup> | &nbsp;&nbsp; 33000 | 1118129 |
| SKY Perfect JSAT Holdings Inc. | &nbsp;&nbsp; 311400 | 1832172 |
| Skylark Holdings Co. Ltd. | &nbsp;&nbsp; 231600 | 3173666 |
| SMC Corp. | &nbsp;&nbsp; 69000 | 33572997 |
| SMS Co. Ltd. | &nbsp;&nbsp; 119700 | 1744711 |
| Socionext Inc. | &nbsp;&nbsp; 224500 | 4533471 |
| SoftBank Corp. | &nbsp;&nbsp; 3417700 | 44583045 |
| SoftBank Group Corp. | &nbsp;&nbsp; 1251000 | 76451631 |
| Sohgo Security Services Co. Ltd. | &nbsp;&nbsp; 327600 | 2095432 |
| Sojitz Corp. | &nbsp;&nbsp; 260120 | 6152636 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 1056600 | 24092504 |
| Sony Group Corp. | &nbsp;&nbsp; 1517600 | 134791100 |
| Sotetsu Holdings Inc. | &nbsp;&nbsp; 141700 | 2324205 |
| Square Enix Holdings Co. Ltd. | &nbsp;&nbsp; 83000 | 2803069 |
| Stanley Electric Co. Ltd. | &nbsp;&nbsp; 108300 | 2126353 |
| Star Micronics Co. Ltd. | &nbsp;&nbsp; 105700 | 1483338 |
| Subaru Corp. | &nbsp;&nbsp; 730800 | 14050724 |
| Sugi Holdings Co. Ltd. | &nbsp;&nbsp; 121500 | 2099396 |
| SUMCO Corp. | &nbsp;&nbsp; 364200 | 5987589 |
| Sumitomo Bakelite Co. Ltd. | &nbsp;&nbsp; 147400 | 4149592 |
| Sumitomo Chemical Co. Ltd. | &nbsp;&nbsp; 1649000 | 4227135 |
| Sumitomo Corp. | &nbsp;&nbsp; 1261400 | 31342688 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 872900 | 13204415 |
| Sumitomo Forestry Co. Ltd. | &nbsp;&nbsp; 196700 | 8387868 |
| Sumitomo Heavy Industries Ltd. | &nbsp;&nbsp; 123300 | 3311257 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 279600 | 8526142 |
| Sumitomo Mitsui Construction Co. Ltd. | &nbsp;&nbsp; 402580 | 1065334 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 1514300 | 109352025 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 815400 | 20610730 |
| Sumitomo Osaka Cement Co. Ltd. | &nbsp;&nbsp; 53700 | 1512048 |
| Sumitomo Pharma Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 200600 | 556140 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 341200 | 11277591 |
| Sumitomo Rubber Industries Ltd. | &nbsp;&nbsp; 200000 | 2083907 |
| Sumitomo Warehouse Co. Ltd. (The) | &nbsp;&nbsp; 135700 | 2551850 |
| Sundrug Co. Ltd. | &nbsp;&nbsp; 68300 | 1896715 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 147200 | 5286857 |
| Suruga Bank Ltd. | &nbsp;&nbsp; 267900 | 2125980 |
| Suzuken Co. Ltd. | &nbsp;&nbsp; 80100 | 2919149 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 1906800 | 21913292 |
| Sysmex Corp. | &nbsp;&nbsp; 605400 | 9911164 |
| Systena Corp. | &nbsp;&nbsp; 459500 | 1034238 |
| T Hasegawa Co. Ltd. | &nbsp;&nbsp; 89700 | 1925992 |
| T&D Holdings Inc. | &nbsp;&nbsp; 610400 | 11442398 |
| Tadano Ltd. | &nbsp;&nbsp; 145800 | 1084112 |
| Taiheiyo Cement Corp. | &nbsp;&nbsp; 138400 | 3780126 |
| Taikisha Ltd. | &nbsp;&nbsp; 41800 | 1440897 |
| Taisei Corp. | &nbsp;&nbsp; 194500 | 8260677 |
| Taiyo Holdings Co. Ltd. | &nbsp;&nbsp; 114300 | 2731650 |
| Taiyo Yuden Co. Ltd. | &nbsp;&nbsp; 135300 | 4065781 |
| Takara Bio Inc. | &nbsp;&nbsp; 142900 | 1096854 |
| Takara Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 407800 | 3093919 |
| Takasago Thermal Engineering Co. Ltd. | &nbsp;&nbsp; 95800 | 3772882 |
| Takashimaya Co. Ltd. | &nbsp;&nbsp; 206300 | 3820269 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 1874583 | 52627540 |
| Takeuchi Manufacturing Co. Ltd. | &nbsp;&nbsp; 79200 | 2533404 |
| Takuma Co. Ltd. | &nbsp;&nbsp; 130200 | 1511623 |
| Tamron Co. Ltd. | &nbsp;&nbsp; 91400 | 2585176 |
| TDK Corp. | &nbsp;&nbsp; 472200 | 32941757 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| TechnoPro Holdings Inc. | &nbsp;&nbsp; 109900 | $2113266 |
| Teijin Ltd. | &nbsp;&nbsp; 204300 | 1965984 |
| Terumo Corp. | &nbsp;&nbsp; 1595400 | 28602889 |
| THK Co. Ltd. | &nbsp;&nbsp; 101200 | 1910650 |
| TIS Inc. | &nbsp;&nbsp; 237800 | 5094016 |
| Toagosei Co. Ltd. | &nbsp;&nbsp; 183700 | 1967952 |
| Tobu Railway Co. Ltd. | &nbsp;&nbsp; 204200 | 3586969 |
| Toda Corp. | &nbsp;&nbsp; 293400 | 2120470 |
| Toei Animation Co. Ltd. | &nbsp;&nbsp; 60000 | 930495 |
| Toei Co. Ltd. | &nbsp;&nbsp; 62000 | 1597334 |
| Toho Bank Ltd. (The) | &nbsp;&nbsp; 515300 | 1081395 |
| Toho Co. Ltd./Tokyo | &nbsp;&nbsp; 100800 | 3619952 |
| Toho Gas Co. Ltd. | &nbsp;&nbsp; 107500 | 3320277 |
| Toho Holdings Co. Ltd. | &nbsp;&nbsp; 93800 | 2727558 |
| Toho Titanium Co. Ltd. | &nbsp;&nbsp; 106500 | 973761 |
| Tohoku Electric Power Co. Inc. | &nbsp;&nbsp; 475700 | 4044718 |
| Tokai Carbon Co. Ltd. | &nbsp;&nbsp; 247900 | 1588669 |
| Tokai Rika Co. Ltd. | &nbsp;&nbsp; 87200 | 1183343 |
| Tokai Tokyo Financial Holdings Inc. | &nbsp;&nbsp; 476900 | 1863758 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 2267900 | 88976761 |
| Tokuyama Corp. | &nbsp;&nbsp; 99500 | 1950542 |
| Tokyo Century Corp. | &nbsp;&nbsp; 171700 | 1828978 |
| Tokyo Electric Power Co. Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 1849200 | 9262199 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 576500 | 120631098 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 425900 | 9331310 |
| Tokyo Kiraboshi Financial Group Inc. | &nbsp;&nbsp; 36700 | 1106083 |
| Tokyo Ohka Kogyo Co. Ltd. | &nbsp;&nbsp; 146500 | 3770883 |
| Tokyo Seimitsu Co. Ltd. | &nbsp;&nbsp; 55500 | 3825694 |
| Tokyo Steel Manufacturing Co. Ltd. | &nbsp;&nbsp; 150300 | 1912130 |
| Tokyo Tatemono Co. Ltd. | &nbsp;&nbsp; 168600 | 2941161 |
| Tokyotokeiba Co. Ltd. | &nbsp;&nbsp; 31900 | 894136 |
| Tokyu Construction Co. Ltd. | &nbsp;&nbsp; 207100 | 1089004 |
| Tokyu Corp. | &nbsp;&nbsp; 555600 | 6731305 |
| Tokyu Fudosan Holdings Corp. | &nbsp;&nbsp; 733400 | 5295355 |
| Tokyu REIT Inc. | &nbsp;&nbsp; 1919 | 1940393 |
| TOMONY Holdings Inc. | &nbsp;&nbsp; 271900 | 777201 |
| Tomy Co. Ltd. | &nbsp;&nbsp; 195300 | 4431444 |
| Topcon Corp. | &nbsp;&nbsp; 191100 | 1976563 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 274700 | 7770203 |
| Toray Industries Inc. | &nbsp;&nbsp; 1461300 | 7597375 |
| Toridoll Holdings Corp.<sup>(a)</sup> | &nbsp;&nbsp; 93400 | 2442663 |
| Toshiba TEC Corp. | &nbsp;&nbsp; 49200 | 1102824 |
| Tosoh Corp. | &nbsp;&nbsp; 264500 | 3598077 |
| Totetsu Kogyo Co. Ltd. | &nbsp;&nbsp; 53600 | 1161490 |
| TOTO Ltd. | &nbsp;&nbsp; 155600 | 4284475 |
| Towa Corp. | &nbsp;&nbsp; 28800 | 1658916 |
| Towa Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 74400 | 1522219 |
| Toyo Seikan Group Holdings Ltd. | &nbsp;&nbsp; 168400 | 2891478 |
| Toyo Suisan Kaisha Ltd. | &nbsp;&nbsp; 105300 | 7070467 |
| Toyo Tire Corp. | &nbsp;&nbsp; 147000 | 2398429 |
| Toyobo Co. Ltd. | &nbsp;&nbsp; 135700 | 931694 |
| Toyoda Gosei Co. Ltd. | &nbsp;&nbsp; 102500 | 1871515 |
| Toyota Boshoku Corp. | &nbsp;&nbsp; 125200 | 1687154 |
| Toyota Industries Corp. | &nbsp;&nbsp; 176800 | 14863593 |
| Toyota Motor Corp. | &nbsp;&nbsp; 12893400 | 247691950 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 762100 | 15236679 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 161600 | 7745890 |
| Tri Chemical Laboratories Inc. | &nbsp;&nbsp; 75800 | 1870353 |
| Trusco Nakayama Corp. | &nbsp;&nbsp; 76300 | 1235130 |
| TS Tech Co. Ltd. | &nbsp;&nbsp; 131700 | 1746462 |
| Tsubakimoto Chain Co. | &nbsp;&nbsp; 50900 | 2201186 |
| Tsuburaya Fields Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 82200 | 864895 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Tsumura & Co. | &nbsp;&nbsp; 95600 | $2534673 |
| Tsuruha Holdings Inc. | &nbsp;&nbsp; 41500 | 2571086 |
| UACJ Corp. | &nbsp;&nbsp; 56000 | 1594452 |
| UBE Corp. | &nbsp;&nbsp; 127100 | 2270959 |
| Ulvac Inc. | &nbsp;&nbsp; 66700 | 4087169 |
| Unicharm Corp. | &nbsp;&nbsp; 477300 | 15989835 |
| United Urban Investment Corp. | &nbsp;&nbsp; 2853 | 2730890 |
| Universal Entertainment Corp. | &nbsp;&nbsp; 39100 | 398845 |
| Ushio Inc. | &nbsp;&nbsp; 172000 | 2466406 |
| USS Co. Ltd. | &nbsp;&nbsp; 496100 | 4474577 |
| UT Group Co. Ltd. | &nbsp;&nbsp; 51200 | 1109068 |
| Valor Holdings Co. Ltd. | &nbsp;&nbsp; 53200 | 904846 |
| Vector Inc. | &nbsp;&nbsp; 87500 | 576458 |
| Visional Inc.<sup>(b)</sup> | &nbsp;&nbsp; 38800 | 2048549 |
| Wacom Co. Ltd. | &nbsp;&nbsp; 348300 | 1679651 |
| Welcia Holdings Co. Ltd. | &nbsp;&nbsp; 139200 | 1868637 |
| West Holdings Corp. | &nbsp;&nbsp; 48800 | 752027 |
| West Japan Railway Co. | &nbsp;&nbsp; 513600 | 10111260 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 295200 | 6053198 |
| Yamada Holdings Co. Ltd. | &nbsp;&nbsp; 827500 | 2510667 |
| Yamaguchi Financial Group Inc. | &nbsp;&nbsp; 286000 | 3555246 |
| Yamaha Corp. | &nbsp;&nbsp; 144800 | 3441765 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 1079200 | 10049485 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 284900 | 3460134 |
| Yamato Kogyo Co. Ltd. | &nbsp;&nbsp; 68400 | 3614711 |
| Yamazaki Baking Co. Ltd. | &nbsp;&nbsp; 161500 | 3993178 |
| Yaoko Co. Ltd. | &nbsp;&nbsp; 38400 | 2348564 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 284300 | 9894725 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 252400 | 6388808 |
| Yokohama Rubber Co. Ltd. (The) | &nbsp;&nbsp; 145400 | 3304846 |
| Yoshinoya Holdings Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 130300 | 2507324 |
| Zenkoku Hosho Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 62800 | 2597685 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 125500 | 5108326 |
| Zeon Corp. | &nbsp;&nbsp; 195600 | 1727553 |
| Zojirushi Corp. | &nbsp;&nbsp; 105100 | 1052500 |
| ZOZO Inc. | &nbsp;&nbsp; 134700 | 3943333 |
|  |  | 6015605952 |
| **Kuwait — 0.2%** | **Kuwait — 0.2%** | **Kuwait — 0.2%** |
| Agility Public Warehousing Co. KSC | &nbsp;&nbsp; 1886078 | 1693654 |
| Boubyan Bank KSCP | &nbsp;&nbsp; 2503237 | 4848445 |
| Boubyan Petrochemicals Co. KSCP | &nbsp;&nbsp; 885126 | 1686932 |
| Gulf Bank KSCP | &nbsp;&nbsp; 3882599 | 3950565 |
| Humansoft Holding Co. KSC | &nbsp;&nbsp; 154418 | 1332105 |
| Kuwait Finance House KSCP | &nbsp;&nbsp; 12517465 | 30187478 |
| Mabanee Co. KPSC | &nbsp;&nbsp; 1218640 | 3347320 |
| Mobile Telecommunications Co. KSCP | &nbsp;&nbsp; 2861488 | 4271510 |
| National Bank of Kuwait SAKP | &nbsp;&nbsp; 10050913 | 29801673 |
| National Industries Group Holding SAK | &nbsp;&nbsp; 4441193 | 3271667 |
|  |  | 84391349 |
| **Malaysia — 0.5%** | **Malaysia — 0.5%** | **Malaysia — 0.5%** |
| AFFIN Bank Bhd | &nbsp;&nbsp; 373000 | 247739 |
| Alliance Bank Malaysia Bhd | &nbsp;&nbsp; 1827400 | 1639611 |
| AMMB Holdings Bhd | &nbsp;&nbsp; 2566600 | 2521910 |
| Axiata Group Bhd | &nbsp;&nbsp; 3427700 | 1792491 |
| British American Tobacco Malaysia Bhd<sup>(a)</sup> | &nbsp;&nbsp; 181000 | 328718 |
| Bursa Malaysia Bhd | &nbsp;&nbsp; 1191100 | 2479901 |
| Carlsberg Brewery Malaysia Bhd | &nbsp;&nbsp; 222900 | 909162 |
| CELCOMDIGI Bhd | &nbsp;&nbsp; 4004400 | 3314274 |
| CIMB Group Holdings Bhd | &nbsp;&nbsp; 8515100 | 13768301 |
| Dialog Group Bhd | &nbsp;&nbsp; 5275578 | 2918859 |
| Fraser & Neave Holdings Bhd | &nbsp;&nbsp; 174600 | 1171980 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Malaysia (continued)** | **Malaysia (continued)** | **Malaysia (continued)** |
| Gamuda Bhd | &nbsp;&nbsp; 2764000 | $4726738 |
| Gas Malaysia Bhd | &nbsp;&nbsp; 141200 | 109715 |
| Genting Bhd | &nbsp;&nbsp; 2360300 | 2432194 |
| Genting Malaysia Bhd | &nbsp;&nbsp; 3585500 | 2031590 |
| Hartalega Holdings Bhd<sup>(b)</sup> | &nbsp;&nbsp; 2161800 | 1435083 |
| Hibiscus Petroleum Bhd | &nbsp;&nbsp; 1331480 | 697791 |
| Hong Leong Bank Bhd | &nbsp;&nbsp; 637800 | 2677926 |
| IHH Healthcare Bhd | &nbsp;&nbsp; 2921700 | 4006249 |
| IJM Corp. Bhd | &nbsp;&nbsp; 4022700 | 3068333 |
| Inari Amertron Bhd | &nbsp;&nbsp; 4649700 | 3833566 |
| IOI Corp. Bhd | &nbsp;&nbsp; 2396400 | 1993819 |
| Kossan Rubber Industries Bhd<sup>(a)</sup> | &nbsp;&nbsp; 2137300 | 986196 |
| KPJ Healthcare Bhd | &nbsp;&nbsp; 4080300 | 1653517 |
| Kuala Lumpur Kepong Bhd<sup>(a)</sup> | &nbsp;&nbsp; 450900 | 2070317 |
| Malayan Banking Bhd | &nbsp;&nbsp; 7009300 | 15591478 |
| Malaysia Airports Holdings Bhd | &nbsp;&nbsp; 1262700 | 2815562 |
| Malaysian Resources Corp. Bhd | &nbsp;&nbsp; 4570200 | 618079 |
| Maxis Bhd<sup>(a)</sup> | &nbsp;&nbsp; 2766000 | 2125145 |
| MISC Bhd | &nbsp;&nbsp; 1293300 | 2474286 |
| MR DIY Group M Bhd<sup>(c)</sup> | &nbsp;&nbsp; 7156450 | 3272251 |
| My EG Services Bhd | &nbsp;&nbsp; 13445100 | 2900955 |
| Nationgate Holdings Bhd, NVS | &nbsp;&nbsp; 1216800 | 560083 |
| Nestle Malaysia Bhd | &nbsp;&nbsp; 95100 | 2249482 |
| Pentamaster Corp. Bhd | &nbsp;&nbsp; 1519100 | 1619646 |
| Petronas Chemicals Group Bhd<sup>(a)</sup> | &nbsp;&nbsp; 3074300 | 3882232 |
| Petronas Dagangan Bhd | &nbsp;&nbsp; 343000 | 1324370 |
| Petronas Gas Bhd | &nbsp;&nbsp; 847100 | 3357766 |
| PPB Group Bhd | &nbsp;&nbsp; 958780 | 3096407 |
| Press Metal Aluminium Holdings Bhd | &nbsp;&nbsp; 4490800 | 5243345 |
| Public Bank Bhd | &nbsp;&nbsp; 17295000 | 15855380 |
| QL Resources Bhd | &nbsp;&nbsp; 2419600 | 3521045 |
| RHB Bank Bhd | &nbsp;&nbsp; 2628698 | 3267518 |
| Sam Engineering & Equipment M Bhd | &nbsp;&nbsp; 236500 | 293405 |
| Sime Darby Bhd | &nbsp;&nbsp; 3550600 | 2011029 |
| Sime Darby Plantation Bhd | &nbsp;&nbsp; 2946000 | 2868632 |
| Sime Darby Property Bhd | &nbsp;&nbsp; 6690400 | 2306125 |
| SP Setia Bhd Group | &nbsp;&nbsp; 1678900 | 585890 |
| Sunway REIT<sup>(a)</sup> | &nbsp;&nbsp; 4272000 | 1506644 |
| Supermax Corp. Bhd<sup>(a)</sup> | &nbsp;&nbsp; 2489177 | 487596 |
| Telekom Malaysia Bhd | &nbsp;&nbsp; 1539800 | 2338431 |
| Tenaga Nasional Bhd | &nbsp;&nbsp; 2913100 | 8927293 |
| TIME dotCom Bhd | &nbsp;&nbsp; 1888600 | 2112831 |
| Top Glove Corp. Bhd<sup>(b)</sup> | &nbsp;&nbsp; 6651800 | 1492628 |
| VS Industry Bhd | &nbsp;&nbsp; 5546700 | 1462574 |
| Yinson Holdings Bhd | &nbsp;&nbsp; 3553340 | 1848402 |
| YTL Corp. Bhd | &nbsp;&nbsp; 5558200 | 4133958 |
| YTL Power International Bhd | &nbsp;&nbsp; 3823900 | 3888094 |
|  |  | 172854542 |
| **Mexico — 0.6%** | **Mexico — 0.6%** | **Mexico — 0.6%** |
| Alfa SAB de CV, Class A | &nbsp;&nbsp; 2430300 | 1397054 |
| Alsea SAB de CV | &nbsp;&nbsp; 717800 | 2167154 |
| America Movil SAB de CV | &nbsp;&nbsp; 23346100 | 19497897 |
| Arca Continental SAB de CV | &nbsp;&nbsp; 505000 | 4969497 |
| Banco del Bajio SA<sup>(c)</sup> | &nbsp;&nbsp; 808200 | 2408420 |
| Bolsa Mexicana de Valores SAB de CV | &nbsp;&nbsp; 683500 | 1063899 |
| Cemex SAB de CV, NVS | &nbsp;&nbsp; 20046212 | 12954559 |
| Coca-Cola Femsa SAB de CV | &nbsp;&nbsp; 521600 | 4733063 |
| Controladora Vuela Cia. de Aviacion SAB de CV, <br> Class A<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 1301000 | 800948 |
| Corp Inmobiliaria Vesta SAB de CV | &nbsp;&nbsp; 1116700 | 3270203 |
| FIBRA Macquarie Mexico<sup>(c)</sup> | &nbsp;&nbsp; 1266063 | 2114069 |
| Fibra Uno Administracion SA de CV | &nbsp;&nbsp; 4196400 | 5333624 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Mexico (continued)** | **Mexico (continued)** | **Mexico (continued)** |
| Fomento Economico Mexicano SAB de CV | &nbsp;&nbsp; 2355300 | $26009308 |
| GCC SAB de CV | &nbsp;&nbsp; 202900 | 1722761 |
| Genomma Lab Internacional SAB de CV, Class B | &nbsp;&nbsp; 916500 | 946458 |
| Gentera SAB de CV | &nbsp;&nbsp; 1447100 | 1715766 |
| Gruma SAB de CV, Class B | &nbsp;&nbsp; 216480 | 4047250 |
| Grupo Aeroportuario del Centro Norte SAB de CV, <br> Class B<br>| &nbsp;&nbsp; 327812 | 2814140 |
| Grupo Aeroportuario del Pacifico SAB de CV, <br> Class B<br>| &nbsp;&nbsp; 493180 | 7868486 |
| Grupo Aeroportuario del Sureste SAB de CV, <br> Class B<br>| &nbsp;&nbsp; 246055 | 7419553 |
| Grupo Bimbo SAB de CV, Series A | &nbsp;&nbsp; 1855900 | 6491815 |
| Grupo Carso SAB de CV, Series A1 | &nbsp;&nbsp; 628500 | 4041345 |
| Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp; 3138300 | 23516616 |
| Grupo Financiero Inbursa SAB de CV, Class O<sup>(b)</sup> | &nbsp;&nbsp; 2683800 | 6535559 |
| Grupo Mexico SAB de CV, Series B | &nbsp;&nbsp; 3836500 | 21621625 |
| Grupo Televisa SAB, CPO<sup>(a)</sup> | &nbsp;&nbsp; 2818500 | 1245035 |
| Industrias Penoles SAB de CV<sup>(b)</sup> | &nbsp;&nbsp; 218320 | 3189434 |
| Kimberly-Clark de Mexico SAB de CV, Class A | &nbsp;&nbsp; 1825200 | 3246585 |
| Megacable Holdings SAB de CV, CPO | &nbsp;&nbsp; 173300 | 407322 |
| Nemak SAB de CV<sup>(b)(c)</sup> | &nbsp;&nbsp; 2071977 | 282477 |
| Operadora De Sites Mexicanos SAB de CV | &nbsp;&nbsp; 2324855 | 2016513 |
| Orbia Advance Corp. SAB de CV | &nbsp;&nbsp; 1210178 | 1553076 |
| Prologis Property Mexico SA de CV | &nbsp;&nbsp; 924618 | 3086857 |
| Promotora y Operadora de Infraestructura SAB <br> de CV<br>| &nbsp;&nbsp; 320895 | 3013805 |
| Qualitas Controladora SAB de CV | &nbsp;&nbsp; 323800 | 2984779 |
| Regional SAB de CV | &nbsp;&nbsp; 289900 | 2104035 |
| TF Administradora Industrial S de Real de CV | &nbsp;&nbsp; 211800 | 455522 |
| Wal-Mart de Mexico SAB de CV | &nbsp;&nbsp; 6398900 | 21280438 |
|  |  | 220326947 |
| **Netherlands — 2.9%** | **Netherlands — 2.9%** | **Netherlands — 2.9%** |
| Aalberts NV | &nbsp;&nbsp; 131531 | 5029431 |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 537869 | 9389499 |
| Adyen NV<sup>(b)(c)</sup> | &nbsp;&nbsp; 26498 | 32413364 |
| Aegon Ltd. | &nbsp;&nbsp; 1812576 | 11729637 |
| AerCap Holdings NV | &nbsp;&nbsp; 257041 | 24149002 |
| Akzo Nobel NV | &nbsp;&nbsp; 208939 | 12919160 |
| Alfen NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 33287 | 615432 |
| Allfunds Group PLC | &nbsp;&nbsp; 446544 | 2683930 |
| AMG Critical Materials NV | &nbsp;&nbsp; 45196 | 768862 |
| Arcadis NV | &nbsp;&nbsp; 99574 | 7111688 |
| ASM International NV | &nbsp;&nbsp; 54586 | 37556313 |
| ASML Holding NV | &nbsp;&nbsp; 487706 | 454137835 |
| ASR Nederland NV | &nbsp;&nbsp; 187384 | 9414592 |
| Basic-Fit NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 61933 | 1498260 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 95753 | 12335343 |
| Brunel International NV<sup>(a)</sup> | &nbsp;&nbsp; 38650 | 440627 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 267389 | 19725286 |
| Corbion NV | &nbsp;&nbsp; 83179 | 1861988 |
| DSM-Firmenich AG | &nbsp;&nbsp; 227639 | 29062419 |
| Eurocommercial Properties NV | &nbsp;&nbsp; 83156 | 2071194 |
| EXOR NV, NVS | &nbsp;&nbsp; 122864 | 12595084 |
| Flow Traders Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 38689 | 644966 |
| Fugro NV | &nbsp;&nbsp; 143671 | 3837162 |
| Heineken Holding NV | &nbsp;&nbsp; 168762 | 12436149 |
| Heineken NV | &nbsp;&nbsp; 348099 | 30890566 |
| IMCD NV | &nbsp;&nbsp; 72620 | 10442279 |
| ING Groep NV | &nbsp;&nbsp; 4029368 | 73136831 |
| InPost SA<sup>(b)</sup> | &nbsp;&nbsp; 296878 | 5143570 |
| JDE Peet's NV | &nbsp;&nbsp; 113282 | 2491150 |
| Just Eat Takeaway.com NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 248018 | 3160835 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 1141734 | $36781177 |
| Koninklijke KPN NV | &nbsp;&nbsp; 4818665 | 18986427 |
| Koninklijke Philips NV<sup>(b)</sup> | &nbsp;&nbsp; 979013 | 27500164 |
| Koninklijke Vopak NV | &nbsp;&nbsp; 89739 | 4008917 |
| NN Group NV | &nbsp;&nbsp; 321007 | 16109466 |
| OCI NV | &nbsp;&nbsp; 123601 | 2978832 |
| Pharming Group NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 1422196 | 1231094 |
| PostNL NV | &nbsp;&nbsp; 674733 | 996245 |
| Prosus NV | &nbsp;&nbsp; 1738833 | 60656201 |
| Randstad NV | &nbsp;&nbsp; 122515 | 5967088 |
| Royal BAM Group NV | &nbsp;&nbsp; 513246 | 2127083 |
| SBM Offshore NV | &nbsp;&nbsp; 125963 | 2041388 |
| Signify NV<sup>(c)</sup> | &nbsp;&nbsp; 142020 | 3515617 |
| TKH Group NV | &nbsp;&nbsp; 51708 | 2265933 |
| TomTom NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 149026 | 817651 |
| Universal Music Group NV | &nbsp;&nbsp; 1001198 | 23853015 |
| Van Lanschot Kempen NV | &nbsp;&nbsp; 56412 | 2441471 |
| Vastned Retail NV | &nbsp;&nbsp; 37764 | 956360 |
| Wereldhave NV | &nbsp;&nbsp; 65887 | 988302 |
| Wolters Kluwer NV | &nbsp;&nbsp; 301295 | 50439581 |
|  |  | 1094354466 |
| **New Zealand — 0.2%** | **New Zealand — 0.2%** | **New Zealand — 0.2%** |
| Air New Zealand Ltd. | &nbsp;&nbsp; 1604013 | 553684 |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 1362911 | 6067300 |
| Contact Energy Ltd. | &nbsp;&nbsp; 939436 | 4752394 |
| EBOS Group Ltd. | &nbsp;&nbsp; 189471 | 4059491 |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 724159 | 13979768 |
| Fletcher Building Ltd. | &nbsp;&nbsp; 1023077 | 1899719 |
| Goodman Property Trust | &nbsp;&nbsp; 1521433 | 1869818 |
| Infratil Ltd. | &nbsp;&nbsp; 1087659 | 6987412 |
| Kiwi Property Group Ltd. | &nbsp;&nbsp; 1735560 | 932110 |
| Mercury NZ Ltd. | &nbsp;&nbsp; 977392 | 4002060 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 1744111 | 6747048 |
| Ryman Healthcare Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 812962 | 2197505 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 2382136 | 6122048 |
|  |  | 60170357 |
| **Norway — 0.5%** | **Norway — 0.5%** | **Norway — 0.5%** |
| Aker ASA, Class A | &nbsp;&nbsp; 39016 | 2288743 |
| Aker BP ASA | &nbsp;&nbsp; 399656 | 9677348 |
| Atea ASA | &nbsp;&nbsp; 174343 | 2320184 |
| Austevoll Seafood ASA | &nbsp;&nbsp; 172134 | 1421595 |
| Bakkafrost P/F | &nbsp;&nbsp; 58720 | 3067220 |
| Borr Drilling Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 319923 | 2173668 |
| Borregaard ASA | &nbsp;&nbsp; 183916 | 3152191 |
| BW Offshore Ltd. | &nbsp;&nbsp; 250263 | 697303 |
| Cavendish Hydrogen ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 61384 | 104668 |
| Crayon Group Holding ASA<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 106217 | 1267218 |
| DNB Bank ASA | &nbsp;&nbsp; 1068306 | 22071242 |
| DNO ASA | &nbsp;&nbsp; 1499269 | 1526788 |
| Elkem ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 385640 | 804807 |
| Entra ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 133265 | 1498024 |
| Equinor ASA | &nbsp;&nbsp; 1066904 | 28251826 |
| Europris ASA<sup>(c)</sup> | &nbsp;&nbsp; 377516 | 2252507 |
| Flex LNG Ltd. | &nbsp;&nbsp; 90449 | 2438921 |
| Frontline PLC, NVS | &nbsp;&nbsp; 183689 | 4527155 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 186356 | 3152728 |
| Golden Ocean Group Ltd. | &nbsp;&nbsp; 206327 | 2564290 |
| Grieg Seafood ASA<sup>(a)</sup> | &nbsp;&nbsp; 151472 | 883654 |
| Hafnia Ltd. | &nbsp;&nbsp; 428312 | 3393705 |
| Hoegh Autoliners ASA | &nbsp;&nbsp; 167776 | 1833893 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 115368 | 11600787 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| Leroy Seafood Group ASA | &nbsp;&nbsp; 326320 | $1417664 |
| Mowi ASA | &nbsp;&nbsp; 544343 | 9187699 |
| MPC Container Ships ASA | &nbsp;&nbsp; 791088 | 1659724 |
| NEL ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 3067460 | 1652693 |
| Nordic Semiconductor ASA<sup>(b)</sup> | &nbsp;&nbsp; 241529 | 2987316 |
| Norsk Hydro ASA | &nbsp;&nbsp; 1518577 | 8423328 |
| Norwegian Air Shuttle ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 1143413 | 1193274 |
| Orkla ASA | &nbsp;&nbsp; 869569 | 7338721 |
| Protector Forsikring ASA | &nbsp;&nbsp; 106469 | 2200287 |
| Salmar ASA | &nbsp;&nbsp; 84301 | 4850243 |
| Scatec ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 171886 | 1387402 |
| Schibsted ASA, Class A | &nbsp;&nbsp; 95921 | 2757028 |
| Schibsted ASA, Class B | &nbsp;&nbsp; 116579 | 3169150 |
| Seadrill Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 52349 | 2882703 |
| SpareBank 1 SMN | &nbsp;&nbsp; 172631 | 2576823 |
| SpareBank 1 SR-Bank ASA | &nbsp;&nbsp; 265654 | 3410361 |
| Storebrand ASA | &nbsp;&nbsp; 522459 | 5243900 |
| Subsea 7 SA | &nbsp;&nbsp; 292027 | 5617144 |
| Telenor ASA | &nbsp;&nbsp; 771959 | 9197906 |
| TGS ASA | &nbsp;&nbsp; 293066 | 3583651 |
| TOMRA Systems ASA | &nbsp;&nbsp; 303905 | 5009355 |
| Wallenius Wilhelmsen ASA | &nbsp;&nbsp; 165765 | 1541324 |
| Yara International ASA | &nbsp;&nbsp; 190868 | 5437132 |
|  |  | 205695293 |
| **Peru — 0.1%** | **Peru — 0.1%** | **Peru — 0.1%** |
| Cia. de Minas Buenaventura SAA, ADR | &nbsp;&nbsp; 237400 | 3679700 |
| Credicorp Ltd. | &nbsp;&nbsp; 78910 | 13465203 |
| Southern Copper Corp. | &nbsp;&nbsp; 103817 | 11067930 |
|  |  | 28212833 |
| **Philippines — 0.2%** | **Philippines — 0.2%** | **Philippines — 0.2%** |
| Alliance Global Group Inc. | &nbsp;&nbsp; 3269600 | 502968 |
| Ayala Corp. | &nbsp;&nbsp; 332695 | 3346529 |
| Ayala Land Inc. | &nbsp;&nbsp; 9849230 | 4986576 |
| Bank of the Philippine Islands | &nbsp;&nbsp; 2214931 | 4602464 |
| BDO Unibank Inc. | &nbsp;&nbsp; 3433602 | 8076841 |
| Bloomberry Resorts Corp.<sup>(b)</sup> | &nbsp;&nbsp; 7645800 | 1083173 |
| Converge Information and Communications <br> Technology Solutions Inc.<sup>(b)</sup><br>| &nbsp;&nbsp; 3297100 | 653022 |
| GT Capital Holdings Inc. | &nbsp;&nbsp; 114748 | 1159756 |
| International Container Terminal Services Inc. | &nbsp;&nbsp; 1488530 | 9077724 |
| JG Summit Holdings Inc. | &nbsp;&nbsp; 4145517 | 1974208 |
| Jollibee Foods Corp. | &nbsp;&nbsp; 662660 | 2615103 |
| Manila Electric Co. | &nbsp;&nbsp; 378470 | 2528515 |
| Manila Water Co. Inc. | &nbsp;&nbsp; 2766700 | 1285507 |
| Megaworld Corp. | &nbsp;&nbsp; 8590500 | 266358 |
| Metropolitan Bank & Trust Co. | &nbsp;&nbsp; 2317347 | 2726849 |
| PLDT Inc. | &nbsp;&nbsp; 98860 | 2566966 |
| Semirara Mining & Power Corp., Class A | &nbsp;&nbsp; 462200 | 264847 |
| SM Investments Corp. | &nbsp;&nbsp; 343285 | 5350253 |
| SM Prime Holdings Inc. | &nbsp;&nbsp; 13691300 | 6764799 |
| Universal Robina Corp. | &nbsp;&nbsp; 1196750 | 2439607 |
|  |  | 62272065 |
| **Poland — 0.3%** | **Poland — 0.3%** | **Poland — 0.3%** |
| Alior Bank SA | &nbsp;&nbsp; 152751 | 3661361 |
| Allegro.eu SA <sup>(b)(c)</sup> | &nbsp;&nbsp; 648843 | 5960285 |
| Asseco Poland SA<sup>(a)</sup> | &nbsp;&nbsp; 127391 | 2700078 |
| Bank Millennium SA<sup>(b)</sup> | &nbsp;&nbsp; 991758 | 2273686 |
| Bank Polska Kasa Opieki SA | &nbsp;&nbsp; 216739 | 8780337 |
| Budimex SA | &nbsp;&nbsp; 15124 | 2433922 |
| CCC SA<sup>(b)</sup> | &nbsp;&nbsp; 65606 | 2085934 |
| CD Projekt SA | &nbsp;&nbsp; 84921 | 3408853 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Poland (continued)** | **Poland (continued)** | **Poland (continued)** |
| Cyfrowy Polsat SA<sup>(b)</sup> | &nbsp;&nbsp; 383497 | $1254588 |
| Dino Polska SA<sup>(b)(c)</sup> | &nbsp;&nbsp; 67668 | 6009318 |
| Enea SA<sup>(b)</sup> | &nbsp;&nbsp; 278887 | 775370 |
| Eurocash SA | &nbsp;&nbsp; 80374 | 237381 |
| Grupa Azoty SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 73664 | 335452 |
| Grupa Kety SA | &nbsp;&nbsp; 11521 | 2389900 |
| KGHM Polska Miedz SA | &nbsp;&nbsp; 159746 | 5491597 |
| KRUK SA | &nbsp;&nbsp; 21311 | 2385146 |
| LPP SA | &nbsp;&nbsp; 1268 | 4861442 |
| mBank SA<sup>(b)</sup> | &nbsp;&nbsp; 19847 | 3120053 |
| Orange Polska SA | &nbsp;&nbsp; 874770 | 1752685 |
| ORLEN SA | &nbsp;&nbsp; 743604 | 12125245 |
| PGE Polska Grupa Energetyczna SA<sup>(b)</sup> | &nbsp;&nbsp; 1193441 | 2197339 |
| Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp; 1081689 | 16075439 |
| Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp; 733161 | 8978377 |
| Santander Bank Polska SA | &nbsp;&nbsp; 39830 | 5248732 |
| Tauron Polska Energia SA<sup>(b)</sup> | &nbsp;&nbsp; 1311404 | 1256582 |
|  |  | 105799102 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| Altri SGPS SA | &nbsp;&nbsp; 213023 | 1158484 |
| Banco Comercial Portugues SA, Class R | &nbsp;&nbsp; 10094087 | 4255188 |
| CTT-Correios de Portugal SA | &nbsp;&nbsp; 184438 | 833500 |
| EDP Renovaveis SA | &nbsp;&nbsp; 334670 | 5202791 |
| EDP SA | &nbsp;&nbsp; 3539980 | 14589905 |
| Galp Energia SGPS SA | &nbsp;&nbsp; 577858 | 12150279 |
| Greenvolt Energias Renovaveis SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 163071 | 1468343 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 321779 | 5624162 |
| Navigator Co. SA (The) | &nbsp;&nbsp; 438105 | 1777581 |
| NOS SGPS SA | &nbsp;&nbsp; 514589 | 1979829 |
| REN - Redes Energeticas Nacionais SGPS SA | &nbsp;&nbsp; 788250 | 1998998 |
| Sonae SGPS SA | &nbsp;&nbsp; 2454970 | 2504107 |
|  |  | 53543167 |
| **Qatar — 0.2%** | **Qatar — 0.2%** | **Qatar — 0.2%** |
| Barwa Real Estate Co. | &nbsp;&nbsp; 3532816 | 2691227 |
| Commercial Bank PSQC (The) | &nbsp;&nbsp; 3606397 | 4131908 |
| Doha Bank QPSC | &nbsp;&nbsp; 2266514 | 920645 |
| Dukhan Bank | &nbsp;&nbsp; 3329782 | 3417517 |
| Industries Qatar QSC | &nbsp;&nbsp; 2126808 | 7640189 |
| Masraf Al Rayan QSC | &nbsp;&nbsp; 7568630 | 4833255 |
| Mesaieed Petrochemical Holding Co. | &nbsp;&nbsp; 5605228 | 2569689 |
| Ooredoo QPSC | &nbsp;&nbsp; 1128485 | 3233082 |
| Qatar Aluminum Manufacturing Co. | &nbsp;&nbsp; 5431205 | 1935893 |
| Qatar Electricity & Water Co. QSC | &nbsp;&nbsp; 838397 | 3535202 |
| Qatar Fuel QSC | &nbsp;&nbsp; 159780 | 645691 |
| Qatar Gas Transport Co. Ltd. | &nbsp;&nbsp; 3027796 | 3740519 |
| Qatar International Islamic Bank QSC | &nbsp;&nbsp; 925671 | 2646950 |
| Qatar Islamic Bank QPSC | &nbsp;&nbsp; 2074510 | 11196378 |
| Qatar National Bank QPSC | &nbsp;&nbsp; 5465164 | 22880964 |
| Qatar Navigation QSC | &nbsp;&nbsp; 621744 | 2019922 |
| United Development Co. QSC | &nbsp;&nbsp; 2244467 | 677250 |
| Vodafone Qatar QSC | &nbsp;&nbsp; 5718268 | 2649451 |
|  |  | 81365732 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Aeroflot PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 2248580 | 265 |
| Alrosa PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 2008230 | 236 |
| Detsky Mir PJSC<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 1459210 | 172 |
| Gazprom PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 12460440 | 1466 |
| GMK Norilskiy Nickel PAO<sup>(b)(d)</sup> | &nbsp;&nbsp; 6701000 | 8 |
| Inter RAO UES PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 41474100 | 4879 |
| LUKOIL PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 449912 | 53 |
| Mobile TeleSystems PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 1079812 | 127 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Russia (continued)** | **Russia (continued)** | **Russia (continued)** |
| Moscow Exchange MICEX-RTS PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 1165970 | $137 |
| Novatek PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 970220 | 114 |
| Novolipetsk Steel PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 1277300 | 150 |
| Ozon Holdings PLC, ADR<sup>(b)(d)</sup> | &nbsp;&nbsp; 48614 | 6 |
| PhosAgro PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 54047 | 6 |
| PhosAgro PJSC, GDR<sup>(b)(d)(e)</sup> | &nbsp;&nbsp; 2 |  |
| PhosAgro PJSC, New<sup>(b)(d)</sup> | &nbsp;&nbsp; 1044 | 10 |
| Polyus PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 29956 | 4 |
| Rosneft Oil Co. PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 1203679 | 142 |
| Rostelecom PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 1886690 | 222 |
| Sberbank of Russia PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 10330470 | 1215 |
| Severstal PAO<sup>(b)(d)</sup> | &nbsp;&nbsp; 165788 | 20 |
| Sistema AFK PAO<sup>(d)</sup> | &nbsp;&nbsp; 5373780 | 632 |
| Surgutneftegas PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 7375600 | 868 |
| Tatneft PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 1491585 | 175 |
| TCS Group Holding PLC, GDR<sup>(b)(d)(e)</sup> | &nbsp;&nbsp; 134948 | 16 |
| Unipro PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 16577000 | 1950 |
| United Co. RUSAL International PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 2395510 | 282 |
| VK Co. Ltd.<sup>(b)(d)</sup> | &nbsp;&nbsp; 113735 | 13 |
| VTB Bank PJSC<sup>(b)(d)</sup> | &nbsp;&nbsp; 687174 |  |
| X5 Retail Group NV, GDR<sup>(b)(d)</sup> | &nbsp;&nbsp; 128602 | 15 |
| Yandex NV<sup>(b)(d)</sup> | &nbsp;&nbsp; 338783 | 40 |
|  |  | 13223 |
| **Saudi Arabia — 1.1%** | **Saudi Arabia — 1.1%** | **Saudi Arabia — 1.1%** |
| Abdullah Al Othaim Markets Co. | &nbsp;&nbsp; 785404 | 2450682 |
| ACWA Power Co. | &nbsp;&nbsp; 178421 | 18784161 |
| Ades Holding Co.<sup>(b)</sup> | &nbsp;&nbsp; 457849 | 2489437 |
| Advanced Petrochemical Co.<sup>(b)</sup> | &nbsp;&nbsp; 205608 | 2192041 |
| Al Hammadi Holding | &nbsp;&nbsp; 104610 | 1308461 |
| Al Rajhi Bank | &nbsp;&nbsp; 2392311 | 54546555 |
| Al Rajhi Co. for Co-operative Insurance<sup>(b)</sup> | &nbsp;&nbsp; 57722 | 3359072 |
| Aldrees Petroleum and Transport Services Co. | &nbsp;&nbsp; 101977 | 3065915 |
| Alinma Bank | &nbsp;&nbsp; 1641790 | 14180235 |
| Almarai Co. JSC | &nbsp;&nbsp; 239153 | 3851743 |
| Alujain Corp.<sup>(b)</sup> | &nbsp;&nbsp; 101993 | 1137665 |
| Arab National Bank | &nbsp;&nbsp; 1007015 | 5759859 |
| Arabian Contracting Services Co. | &nbsp;&nbsp; 15507 | 934878 |
| Arabian Internet & Communications Services Co. | &nbsp;&nbsp; 27926 | 2189086 |
| Arriyadh Development Co. | &nbsp;&nbsp; 261587 | 1664648 |
| Astra Industrial Group | &nbsp;&nbsp; 63077 | 2685432 |
| Bank AlBilad | &nbsp;&nbsp; 903165 | 8852201 |
| Bank Al-Jazira<sup>(b)</sup> | &nbsp;&nbsp; 727032 | 3332538 |
| Banque Saudi Fransi | &nbsp;&nbsp; 723809 | 7137880 |
| Bupa Arabia for Cooperative Insurance Co. | &nbsp;&nbsp; 92198 | 5661776 |
| Catrion Catering Holding Co. | &nbsp;&nbsp; 93686 | 2897306 |
| City Cement Co. | &nbsp;&nbsp; 209134 | 1005118 |
| Co. for Cooperative Insurance (The) | &nbsp;&nbsp; 129403 | 4965312 |
| Dallah Healthcare Co. | &nbsp;&nbsp; 56746 | 2504634 |
| Dar Al Arkan Real Estate Development Co.<sup>(b)</sup> | &nbsp;&nbsp; 870360 | 3140988 |
| Dr Sulaiman Al Habib Medical Services Group Co. | &nbsp;&nbsp; 105641 | 8109120 |
| Electrical Industries Co. | &nbsp;&nbsp; 603336 | 1095357 |
| Elm Co. | &nbsp;&nbsp; 30657 | 7476474 |
| Emaar Economic City<sup>(b)</sup> | &nbsp;&nbsp; 858144 | 1647018 |
| Etihad Atheeb Telecommunication Co.<sup>(b)</sup> | &nbsp;&nbsp; 28768 | 720753 |
| Etihad Etisalat Co. | &nbsp;&nbsp; 503287 | 6990836 |
| Jarir Marketing Co. | &nbsp;&nbsp; 719060 | 2489250 |
| Leejam Sports Co. JSC | &nbsp;&nbsp; 54672 | 2912775 |
| Middle East Healthcare Co.<sup>(b)</sup> | &nbsp;&nbsp; 77886 | 1641125 |
| Mobile Telecommunications Co. Saudi Arabia | &nbsp;&nbsp; 750446 | 2177484 |
| Mouwasat Medical Services Co. | &nbsp;&nbsp; 173328 | 5577083 |
| Nahdi Medical Co. | &nbsp;&nbsp; 53008 | 1876825 |
| National Agriculture Development Co. (The)<sup>(b)</sup> | &nbsp;&nbsp; 294031 | 2257015 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Saudi Arabia (continued)** | **Saudi Arabia (continued)** | **Saudi Arabia (continued)** |
| National Gas & Industrialization Co. | &nbsp;&nbsp; 113320 | $3216495 |
| National Industrialization Co.<sup>(b)</sup> | &nbsp;&nbsp; 580541 | 1722253 |
| Power & Water Utility Co. for Jubail & Yanbu | &nbsp;&nbsp; 135531 | 2224629 |
| Riyad Bank | &nbsp;&nbsp; 1737592 | 12711156 |
| SABIC Agri-Nutrients Co. | &nbsp;&nbsp; 300169 | 9418835 |
| Sahara International Petrochemical Co. | &nbsp;&nbsp; 524419 | 3990639 |
| SAL Saudi Logistics Services | &nbsp;&nbsp; 28435 | 2382862 |
| Saudi Arabian Mining Co.<sup>(b)</sup> | &nbsp;&nbsp; 1596897 | 18335975 |
| Saudi Arabian Oil Co.<sup>(c)</sup> | &nbsp;&nbsp; 4406556 | 32418259 |
| Saudi Aramco Base Oil Co. | &nbsp;&nbsp; 62227 | 2157794 |
| Saudi Awwal Bank | &nbsp;&nbsp; 1175716 | 12301880 |
| Saudi Basic Industries Corp. | &nbsp;&nbsp; 1068070 | 22432345 |
| Saudi Cement Co. | &nbsp;&nbsp; 114311 | 1299439 |
| Saudi Chemical Co. Holding | &nbsp;&nbsp; 1028350 | 3096758 |
| Saudi Electricity Co. | &nbsp;&nbsp; 1110688 | 5060651 |
| Saudi Ground Services Co.<sup>(b)</sup> | &nbsp;&nbsp; 213198 | 2909497 |
| Saudi Industrial Investment Group | &nbsp;&nbsp; 389368 | 2119918 |
| Saudi Investment Bank (The) | &nbsp;&nbsp; 493845 | 1682185 |
| Saudi Kayan Petrochemical Co.<sup>(b)</sup> | &nbsp;&nbsp; 996283 | 2166338 |
| Saudi National Bank (The) | &nbsp;&nbsp; 3648927 | 36870072 |
| Saudi Public Transport Co.<sup>(b)</sup> | &nbsp;&nbsp; 183000 | 901173 |
| Saudi Real Estate Co.<sup>(b)</sup> | &nbsp;&nbsp; 187135 | 1119540 |
| Saudi Research & Media Group<sup>(b)</sup> | &nbsp;&nbsp; 50431 | 3508929 |
| Saudi Tadawul Group Holding Co. | &nbsp;&nbsp; 50721 | 3129928 |
| Saudi Telecom Co. | &nbsp;&nbsp; 2308414 | 23711853 |
| Saudia Dairy & Foodstuff Co. | &nbsp;&nbsp; 34334 | 3142914 |
| Savola Group (The)<sup>(b)</sup> | &nbsp;&nbsp; 293732 | 3573011 |
| Seera Group Holding<sup>(b)</sup> | &nbsp;&nbsp; 355346 | 2349520 |
| Southern Province Cement Co. | &nbsp;&nbsp; 97807 | 935108 |
| United Electronics Co. | &nbsp;&nbsp; 105323 | 2579504 |
| United International Transportation Co. | &nbsp;&nbsp; 107097 | 2553175 |
| Yamama Cement Co. | &nbsp;&nbsp; 227798 | 2017581 |
| Yanbu Cement Co. | &nbsp;&nbsp; 168518 | 1165554 |
| Yanbu National Petrochemical Co. | &nbsp;&nbsp; 293298 | 3162106 |
|  |  | 437436614 |
| **Singapore — 1.0%** | **Singapore — 1.0%** | **Singapore — 1.0%** |
| AEM Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 763325 | 963033 |
| BW LPG Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 131416 | 2135543 |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 4281348 | 8740622 |
| CapitaLand Ascott Trust | &nbsp;&nbsp; 3449765 | 2329212 |
| CapitaLand China Trust<sup>(a)</sup> | &nbsp;&nbsp; 2856441 | 1475440 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 6316628 | 9866803 |
| CapitaLand Investment Ltd./Singapore<sup>(a)</sup> | &nbsp;&nbsp; 2917500 | 5915327 |
| CDL Hospitality Trusts<sup>(a)</sup> | &nbsp;&nbsp; 2441181 | 1766241 |
| City Developments Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 757500 | 3019891 |
| ComfortDelGro Corp. Ltd. | &nbsp;&nbsp; 2286500 | 2398803 |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 2409800 | 66036739 |
| ESR-LOGOS REIT | &nbsp;&nbsp; 14685247 | 3021204 |
| First Resources Ltd. | &nbsp;&nbsp; 1155500 | 1281745 |
| Frasers Centrepoint Trust | &nbsp;&nbsp; 2069762 | 3429018 |
| Frasers Hospitality Trust | &nbsp;&nbsp; 1831900 | 575595 |
| Frasers Logistics & Commercial Trust<sup>(a)</sup> | &nbsp;&nbsp; 3127713 | 2324920 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 6042800 | 3839915 |
| Golden Agri-Resources Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 9728900 | 2001532 |
| Grab Holdings Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 2521854 | 8322118 |
| Hutchison Port Holdings Trust, Class U | &nbsp;&nbsp; 8410500 | 1026081 |
| iFAST Corp. Ltd. | &nbsp;&nbsp; 296000 | 1661001 |
| Keppel DC REIT<sup>(a)</sup> | &nbsp;&nbsp; 2024163 | 3073287 |
| Keppel Infrastructure Trust<sup>(a)</sup> | &nbsp;&nbsp; 9579736 | 3447960 |
| Keppel Ltd. | &nbsp;&nbsp; 1682500 | 8373576 |
| Keppel REIT<sup>(a)</sup> | &nbsp;&nbsp; 3358680 | 2201595 |
| Mapletree Industrial Trust | &nbsp;&nbsp; 2469460 | 4284787 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Singapore (continued)** | **Singapore (continued)** | **Singapore (continued)** |
| Mapletree Logistics Trust<sup>(a)</sup> | &nbsp;&nbsp; 4083956 | $3959454 |
| Mapletree Pan Asia Commercial Trust | &nbsp;&nbsp; 2416993 | 2324666 |
| NetLink NBN Trust | &nbsp;&nbsp; 6020400 | 3828338 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 3972650 | 44218156 |
| Parkway Life REIT | &nbsp;&nbsp; 1057800 | 2877749 |
| Raffles Medical Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1560000 | 1097030 |
| SATS Ltd. | &nbsp;&nbsp; 1597497 | 3927161 |
| Sea Ltd., ADR<sup>(b)</sup> | &nbsp;&nbsp; 448706 | 29479984 |
| Seatrium Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2745789 | 3457605 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 1235900 | 4419046 |
| Sheng Siong Group Ltd. | &nbsp;&nbsp; 2082100 | 2398037 |
| SIA Engineering Co. Ltd. | &nbsp;&nbsp; 600600 | 1029437 |
| Singapore Airlines Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1762900 | 9212756 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 1024600 | 7554275 |
| Singapore Post Ltd. | &nbsp;&nbsp; 2653000 | 873285 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 1946700 | 6445090 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 9973500 | 23105280 |
| Starhill Global REIT | &nbsp;&nbsp; 4525700 | 1675934 |
| StarHub Ltd. | &nbsp;&nbsp; 836100 | 794379 |
| Suntec REIT<sup>(a)</sup> | &nbsp;&nbsp; 2633800 | 2330687 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 1521900 | 36904067 |
| UOL Group Ltd. | &nbsp;&nbsp; 501800 | 2027431 |
| Venture Corp. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 229700 | 2600289 |
| Wilmar International Ltd. | &nbsp;&nbsp; 2033000 | 4847757 |
| Yangzijiang Financial Holding Ltd. | &nbsp;&nbsp; 2719000 | 693446 |
| Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp; 3215400 | 6483083 |
| Yanlord Land Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 925900 | 311704 |
|  |  | 362388114 |
| **South Africa — 0.9%** | **South Africa — 0.9%** | **South Africa — 0.9%** |
| Absa Group Ltd. | &nbsp;&nbsp; 993069 | 8713380 |
| Adcock Ingram Holdings Ltd. | &nbsp;&nbsp; 117088 | 371081 |
| AECI Ltd. | &nbsp;&nbsp; 241092 | 1401843 |
| African Rainbow Minerals Ltd. | &nbsp;&nbsp; 221941 | 2632217 |
| Anglo American Platinum Ltd. | &nbsp;&nbsp; 73853 | 2866633 |
| Anglogold Ashanti PLC, NVS | &nbsp;&nbsp; 502094 | 14458061 |
| Aspen Pharmacare Holdings Ltd. | &nbsp;&nbsp; 459305 | 6351712 |
| AVI Ltd. | &nbsp;&nbsp; 479631 | 2575676 |
| Barloworld Ltd. | &nbsp;&nbsp; 309308 | 1578596 |
| Bid Corp. Ltd. | &nbsp;&nbsp; 437609 | 10892109 |
| Bidvest Group Ltd. (The) | &nbsp;&nbsp; 365159 | 5488036 |
| Capitec Bank Holdings Ltd. | &nbsp;&nbsp; 107926 | 16831701 |
| Clicks Group Ltd. | &nbsp;&nbsp; 316681 | 6155392 |
| Coronation Fund Managers Ltd. | &nbsp;&nbsp; 234318 | 481051 |
| Dis-Chem Pharmacies Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 485815 | 954691 |
| Discovery Ltd. | &nbsp;&nbsp; 624894 | 4899649 |
| Exxaro Resources Ltd. | &nbsp;&nbsp; 317803 | 3404973 |
| FirstRand Ltd. | &nbsp;&nbsp; 5944384 | 26710569 |
| Foschini Group Ltd. (The) | &nbsp;&nbsp; 423282 | 3124094 |
| Gold Fields Ltd. | &nbsp;&nbsp; 1109635 | 19318333 |
| Grindrod Ltd. | &nbsp;&nbsp; 340000 | 290482 |
| Growthpoint Properties Ltd. | &nbsp;&nbsp; 3402555 | 2305424 |
| Harmony Gold Mining Co. Ltd. | &nbsp;&nbsp; 684746 | 6714346 |
| Impala Platinum Holdings Ltd. | &nbsp;&nbsp; 1084591 | 5571771 |
| Investec Ltd. | &nbsp;&nbsp; 444818 | 3473061 |
| JSE Ltd. | &nbsp;&nbsp; 192033 | 1122938 |
| Kumba Iron Ore Ltd. | &nbsp;&nbsp; 83156 | 1813977 |
| Life Healthcare Group Holdings Ltd. | &nbsp;&nbsp; 1824478 | 1337366 |
| Momentum Metropolitan Holdings | &nbsp;&nbsp; 1680374 | 2474544 |
| Motus Holdings Ltd. | &nbsp;&nbsp; 301554 | 1709399 |
| Mr. Price Group Ltd. | &nbsp;&nbsp; 300775 | 3572142 |
| MTN Group Ltd. | &nbsp;&nbsp; 2050104 | 8895692 |
| MultiChoice Group<sup>(b)</sup> | &nbsp;&nbsp; 447382 | 2684906 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Africa (continued)** | **South Africa (continued)** | **South Africa (continued)** |
| Naspers Ltd., Class N | &nbsp;&nbsp; 219588 | $42467264 |
| Nedbank Group Ltd. | &nbsp;&nbsp; 498120 | 7628534 |
| NEPI Rockcastle NV | &nbsp;&nbsp; 608587 | 4602037 |
| Netcare Ltd. | &nbsp;&nbsp; 1667277 | 1192667 |
| Ninety One Ltd. | &nbsp;&nbsp; 267376 | 583860 |
| Northam Platinum Holdings Ltd. | &nbsp;&nbsp; 448595 | 3513881 |
| Oceana Group Ltd. | &nbsp;&nbsp; 82548 | 316074 |
| Old Mutual Ltd. | &nbsp;&nbsp; 5682688 | 3844102 |
| OUTsurance Group Ltd., NVS | &nbsp;&nbsp; 1214196 | 3220078 |
| Pepkor Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1725214 | 1936135 |
| Pick n Pay Stores Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 782022 | 998326 |
| Redefine Properties Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 7815985 | 1828200 |
| Reinet Investments SCA | &nbsp;&nbsp; 199409 | 5369399 |
| Remgro Ltd. | &nbsp;&nbsp; 553457 | 4254136 |
| Resilient REIT Ltd. | &nbsp;&nbsp; 525300 | 1449352 |
| Reunert Ltd. | &nbsp;&nbsp; 350150 | 1380413 |
| Sanlam Ltd. | &nbsp;&nbsp; 2228948 | 9980547 |
| Sappi Ltd. | &nbsp;&nbsp; 818170 | 2383714 |
| Sasol Ltd. | &nbsp;&nbsp; 666731 | 5406357 |
| Shoprite Holdings Ltd. | &nbsp;&nbsp; 622647 | 10434133 |
| Sibanye Stillwater Ltd. | &nbsp;&nbsp; 3307703 | 3777032 |
| SPAR Group Ltd. (The)<sup>(b)</sup> | &nbsp;&nbsp; 284276 | 1958441 |
| Standard Bank Group Ltd. | &nbsp;&nbsp; 1583798 | 19303494 |
| Super Group Ltd./South Africa | &nbsp;&nbsp; 712031 | 1190093 |
| Telkom SA SOC Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 596370 | 773949 |
| Thungela Resources Ltd. | &nbsp;&nbsp; 176944 | 1173927 |
| Tiger Brands Ltd. | &nbsp;&nbsp; 185654 | 2271579 |
| Truworths International Ltd. | &nbsp;&nbsp; 626114 | 3114486 |
| Vodacom Group Ltd. | &nbsp;&nbsp; 744855 | 4180595 |
| Vukile Property Fund Ltd. | &nbsp;&nbsp; 962949 | 870818 |
| Wilson Bayly Holmes-Ovcon Ltd. | &nbsp;&nbsp; 62512 | 616555 |
| Woolworths Holdings Ltd./South Africa | &nbsp;&nbsp; 1071948 | 3543241 |
|  |  | 336739264 |
| **South Korea — 3.3%** | **South Korea — 3.3%** | **South Korea — 3.3%** |
| ABLBio Inc.<sup>(b)</sup> | &nbsp;&nbsp; 79150 | 1659668 |
| Advanced Nano Products Co. Ltd. | &nbsp;&nbsp; 22677 | 1556744 |
| Ahnlab Inc. | &nbsp;&nbsp; 12231 | 515745 |
| Alteogen Inc.<sup>(b)</sup> | &nbsp;&nbsp; 49073 | 11315320 |
| Amorepacific Corp. | &nbsp;&nbsp; 35218 | 4680942 |
| Amorepacific Group | &nbsp;&nbsp; 38545 | 877075 |
| Asiana Airlines Inc.<sup>(b)</sup> | &nbsp;&nbsp; 56186 | 409094 |
| BGF retail Co. Ltd. | &nbsp;&nbsp; 10488 | 792172 |
| BH Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 46296 | 735312 |
| Bioneer Corp.<sup>(b)</sup> | &nbsp;&nbsp; 32903 | 759387 |
| BNK Financial Group Inc. | &nbsp;&nbsp; 281952 | 1960355 |
| Celltrion Inc. | &nbsp;&nbsp; 188068 | 28153126 |
| Celltrion Pharm Inc.<sup>(b)</sup> | &nbsp;&nbsp; 26033 | 1912896 |
| Chabiotech Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 119229 | 1414975 |
| Cheil Worldwide Inc. | &nbsp;&nbsp; 95686 | 1238951 |
| Cheryong Electric Co. Ltd. | &nbsp;&nbsp; 15132 | 812593 |
| Chunbo Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 13566 | 616413 |
| CJ CGV Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 145150 | 605626 |
| CJ CheilJedang Corp. | &nbsp;&nbsp; 9005 | 2542643 |
| CJ Corp. | &nbsp;&nbsp; 17643 | 1712242 |
| CJ ENM Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 12240 | 682982 |
| CJ Logistics Corp. | &nbsp;&nbsp; 12220 | 881325 |
| Classys Inc. | &nbsp;&nbsp; 20734 | 707830 |
| Cosmax Inc. | &nbsp;&nbsp; 14977 | 1694448 |
| CosmoAM&T Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 33604 | 3199186 |
| Cosmochemical Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 52443 | 824913 |
| Coway Co. Ltd. | &nbsp;&nbsp; 65408 | 2992406 |
| CS Wind Corp.<sup>(a)</sup> | &nbsp;&nbsp; 39297 | 1375331 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| Daejoo Electronic Materials Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 29016 | $2505416 |
| Daesang Corp.<sup>(a)</sup> | &nbsp;&nbsp; 39383 | 700229 |
| Daewoo Engineering & Construction Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 241803 | 736274 |
| Daewoong Pharmaceutical Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 8311 | 756274 |
| DB HiTek Co. Ltd. | &nbsp;&nbsp; 54351 | 2164521 |
| DB Insurance Co. Ltd. | &nbsp;&nbsp; 56724 | 4583138 |
| Dentium Co. Ltd. | &nbsp;&nbsp; 15874 | 1086492 |
| DGB Financial Group Inc. | &nbsp;&nbsp; 251004 | 1492414 |
| DL E&C Co. Ltd. | &nbsp;&nbsp; 39366 | 1012545 |
| DL Holdings Co. Ltd. | &nbsp;&nbsp; 15408 | 633762 |
| Dong-A Socio Holdings Co. Ltd. | &nbsp;&nbsp; 9555 | 773839 |
| Dong-A ST Co. Ltd. | &nbsp;&nbsp; 14612 | 759810 |
| Dongjin Semichem Co. Ltd. | &nbsp;&nbsp; 87912 | 2337168 |
| Dongkuk Steel Mill Co. Ltd/New | &nbsp;&nbsp; 71482 | 470147 |
| Doosan Bobcat Inc. | &nbsp;&nbsp; 74252 | 2247176 |
| Doosan Co. Ltd. | &nbsp;&nbsp; 8967 | 1150010 |
| Doosan Enerbility Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 519366 | 7153079 |
| Doosan Fuel Cell Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 77000 | 1133456 |
| DoubleUGames Co. Ltd. | &nbsp;&nbsp; 19485 | 660377 |
| Douzone Bizon Co. Ltd. | &nbsp;&nbsp; 31275 | 1400775 |
| Ecopro BM Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 60686 | 8057252 |
| Ecopro Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 121043 | 8228689 |
| Ecopro HN Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 23533 | 896692 |
| Ecopro Materials Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 16653 | 995706 |
| E-MART Inc. | &nbsp;&nbsp; 22933 | 1011039 |
| Enchem Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 13136 | 1680651 |
| Eo Technics Co. Ltd. | &nbsp;&nbsp; 14760 | 1909969 |
| F&F Co. Ltd./New | &nbsp;&nbsp; 23805 | 1004186 |
| Fila Holdings Corp. | &nbsp;&nbsp; 67046 | 2104841 |
| Foosung Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 131656 | 608253 |
| GC Cell Corp.<sup>(a)</sup> | &nbsp;&nbsp; 26407 | 607179 |
| Grand Korea Leisure Co. Ltd. | &nbsp;&nbsp; 77184 | 678273 |
| Green Cross Corp. | &nbsp;&nbsp; 11584 | 1131683 |
| Green Cross Holdings Corp.<sup>(a)</sup> | &nbsp;&nbsp; 37262 | 414383 |
| GS Engineering & Construction Corp.<sup>(b)</sup> | &nbsp;&nbsp; 121479 | 1760515 |
| GS Holdings Corp. | &nbsp;&nbsp; 63387 | 2269206 |
| GS Retail Co. Ltd. | &nbsp;&nbsp; 39897 | 618181 |
| Hana Financial Group Inc. | &nbsp;&nbsp; 356758 | 16902489 |
| Hana Micron Inc. | &nbsp;&nbsp; 81356 | 1158474 |
| Hana Tour Service Inc. | &nbsp;&nbsp; 34505 | 1279133 |
| Hanall Biopharma Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 61115 | 1584373 |
| Hanjin Kal Corp.<sup>(a)</sup> | &nbsp;&nbsp; 44996 | 2277318 |
| Hankook Tire & Technology Co. Ltd. | &nbsp;&nbsp; 101467 | 3313477 |
| Hanmi Pharm Co. Ltd. | &nbsp;&nbsp; 9385 | 1983296 |
| Hanmi Semiconductor Co. Ltd. | &nbsp;&nbsp; 53640 | 5166912 |
| Hanon Systems | &nbsp;&nbsp; 265899 | 864881 |
| Hansol Chemical Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 12911 | 1542829 |
| Hanssem Co. Ltd. | &nbsp;&nbsp; 12601 | 585629 |
| Hanwha Aerospace Co. Ltd. | &nbsp;&nbsp; 47407 | 9947197 |
| Hanwha Corp. | &nbsp;&nbsp; 68104 | 1550849 |
| Hanwha Engine<sup>(b)</sup> | &nbsp;&nbsp; 94270 | 987897 |
| Hanwha Life Insurance Co. Ltd. | &nbsp;&nbsp; 620452 | 1411476 |
| Hanwha Ocean Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 100113 | 2241331 |
| Hanwha Solutions Corp. | &nbsp;&nbsp; 123086 | 2236753 |
| HD Hyundai Co. Ltd. | &nbsp;&nbsp; 56070 | 3436048 |
| HD Hyundai Electric Co. Ltd. | &nbsp;&nbsp; 27771 | 6284343 |
| HD Hyundai Heavy Industries Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 29699 | 4589578 |
| HD Hyundai Infracore Co. Ltd. | &nbsp;&nbsp; 159817 | 931010 |
| HD Hyundai Mipo<sup>(b)</sup> | &nbsp;&nbsp; 35310 | 3037658 |
| HD Korea Shipbuilding & Offshore Engineering <br> Co. Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp; 46308 | 7024718 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| HDC Hyundai Development Co-Engineering & <br> Construction, Class E<br>| &nbsp;&nbsp; 74069 | $1242515 |
| HL Mando Co. Ltd. | &nbsp;&nbsp; 53225 | 1518312 |
| HLB Inc.<sup>(b)</sup> | &nbsp;&nbsp; 144415 | 8577558 |
| HLB Life Science Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 125768 | 974189 |
| HMM Co. Ltd. | &nbsp;&nbsp; 333130 | 4430829 |
| Hotel Shilla Co. Ltd. | &nbsp;&nbsp; 40114 | 1464203 |
| HPSP Co. Ltd. | &nbsp;&nbsp; 71112 | 1699829 |
| HS Hyosung Corp., NVS<sup>(b)</sup> | &nbsp;&nbsp; 2155 | 99865 |
| Hugel Inc.<sup>(b)</sup> | &nbsp;&nbsp; 14494 | 2595385 |
| HYBE Co. Ltd. | &nbsp;&nbsp; 24983 | 3213675 |
| Hyosung Advanced Materials Corp. | &nbsp;&nbsp; 5673 | 1296899 |
| Hyosung Corp. | &nbsp;&nbsp; 9684 | 324310 |
| Hyosung Heavy Industries Corp. | &nbsp;&nbsp; 5204 | 1181251 |
| Hyosung TNC Corp. | &nbsp;&nbsp; 3715 | 818979 |
| Hyundai Bioscience Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 69521 | 961453 |
| Hyundai Department Store Co. Ltd. | &nbsp;&nbsp; 21210 | 728713 |
| Hyundai Elevator Co. Ltd. | &nbsp;&nbsp; 62127 | 1938732 |
| Hyundai Engineering & Construction Co. Ltd. | &nbsp;&nbsp; 85230 | 2082420 |
| Hyundai Glovis Co. Ltd. | &nbsp;&nbsp; 44588 | 3968680 |
| Hyundai Home Shopping Network Corp. | &nbsp;&nbsp; 7711 | 273995 |
| Hyundai Marine & Fire Insurance Co. Ltd. | &nbsp;&nbsp; 97382 | 2562607 |
| Hyundai Mobis Co. Ltd. | &nbsp;&nbsp; 76181 | 12325341 |
| Hyundai Motor Co. | &nbsp;&nbsp; 169445 | 30881337 |
| Hyundai Rotem Co. Ltd. | &nbsp;&nbsp; 104733 | 3733548 |
| Hyundai Steel Co. | &nbsp;&nbsp; 101940 | 2062686 |
| Hyundai Wia Corp. | &nbsp;&nbsp; 17876 | 687210 |
| Industrial Bank of Korea | &nbsp;&nbsp; 336520 | 3433792 |
| ISC Co. Ltd. | &nbsp;&nbsp; 13869 | 504420 |
| ISU Specialty Chemical, NVS<sup>(b)</sup> | &nbsp;&nbsp; 25403 | 648530 |
| IsuPetasys Co. Ltd. | &nbsp;&nbsp; 68792 | 2299716 |
| JB Financial Group Co. Ltd. | &nbsp;&nbsp; 290904 | 3071034 |
| Jusung Engineering Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 68080 | 1431619 |
| JW Pharmaceutical Corp. | &nbsp;&nbsp; 42544 | 989872 |
| JYP Entertainment Corp. | &nbsp;&nbsp; 45437 | 1914750 |
| Kakao Corp. | &nbsp;&nbsp; 386918 | 11118883 |
| Kakao Games Corp.<sup>(b)</sup> | &nbsp;&nbsp; 57672 | 786160 |
| KakaoBank Corp. | &nbsp;&nbsp; 193518 | 3039539 |
| Kangwon Land Inc. | &nbsp;&nbsp; 111586 | 1176529 |
| KB Financial Group Inc. | &nbsp;&nbsp; 470123 | 30391604 |
| KCC Corp. | &nbsp;&nbsp; 8199 | 1978943 |
| KEPCO Engineering & Construction Co. Inc. | &nbsp;&nbsp; 28957 | 1610658 |
| KEPCO Plant Service & Engineering Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 26600 | 763376 |
| KG Mobility Co.<sup>(b)</sup> | &nbsp;&nbsp; 88242 | 386452 |
| Kia Corp. | &nbsp;&nbsp; 320635 | 26310228 |
| KIWOOM Securities Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 22459 | 2182964 |
| KMW Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 78394 | 707782 |
| Koh Young Technology Inc. | &nbsp;&nbsp; 90946 | 771201 |
| Kolmar Korea Co. Ltd. | &nbsp;&nbsp; 45708 | 2160060 |
| Kolon Industries Inc. | &nbsp;&nbsp; 24923 | 675627 |
| Korea Aerospace Industries Ltd. | &nbsp;&nbsp; 87951 | 3655379 |
| Korea Electric Power Corp.<sup>(b)</sup> | &nbsp;&nbsp; 298271 | 4304518 |
| Korea Gas Corp.<sup>(b)</sup> | &nbsp;&nbsp; 49309 | 1601767 |
| Korea Investment Holdings Co. Ltd. | &nbsp;&nbsp; 49151 | 2640703 |
| Korea Zinc Co. Ltd. | &nbsp;&nbsp; 9268 | 3285939 |
| Korean Air Lines Co. Ltd. | &nbsp;&nbsp; 198374 | 3083028 |
| Korean Reinsurance Co. | &nbsp;&nbsp; 313010 | 1887865 |
| Krafton Inc.<sup>(b)</sup> | &nbsp;&nbsp; 34996 | 7545783 |
| KT Corp. | &nbsp;&nbsp; 75544 | 2199947 |
| KT&G Corp. | &nbsp;&nbsp; 128145 | 8735882 |
| Kum Yang Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 47845 | 2373677 |
| Kumho Petrochemical Co. Ltd. | &nbsp;&nbsp; 23277 | 2361032 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| Kumho Tire Co. Inc.<sup>(b)</sup> | &nbsp;&nbsp; 246156 | $920039 |
| L&F Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 29933 | 2503537 |
| Lake Materials Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 94427 | 1101840 |
| LEENO Industrial Inc. | &nbsp;&nbsp; 13828 | 2035618 |
| LG Chem Ltd. | &nbsp;&nbsp; 59607 | 13404671 |
| LG Corp. | &nbsp;&nbsp; 109844 | 7004989 |
| LG Display Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 328697 | 2698226 |
| LG Electronics Inc. | &nbsp;&nbsp; 132972 | 10125906 |
| LG Energy Solution Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 58956 | 14034464 |
| LG H&H Co. Ltd. | &nbsp;&nbsp; 10400 | 2675433 |
| LG Innotek Co. Ltd. | &nbsp;&nbsp; 17957 | 3372594 |
| LG Uplus Corp. | &nbsp;&nbsp; 258909 | 1893677 |
| LIG Nex1 Co. Ltd. | &nbsp;&nbsp; 21031 | 3057644 |
| LigaChem Biosciences Inc.<sup>(b)</sup> | &nbsp;&nbsp; 42676 | 2639697 |
| Lotte Chemical Corp. | &nbsp;&nbsp; 22345 | 1655917 |
| Lotte Chilsung Beverage Co. Ltd. | &nbsp;&nbsp; 4748 | 492700 |
| Lotte Energy Materials Corp. | &nbsp;&nbsp; 34126 | 962842 |
| Lotte Fine Chemical Co. Ltd. | &nbsp;&nbsp; 41563 | 1411534 |
| Lotte Shopping Co. Ltd. | &nbsp;&nbsp; 12216 | 551889 |
| Lotte Wellfood Co. Ltd. | &nbsp;&nbsp; 6530 | 855698 |
| LS Corp. | &nbsp;&nbsp; 24106 | 2044541 |
| LS Electric Co. Ltd. | &nbsp;&nbsp; 20089 | 2704271 |
| Lunit Inc.<sup>(b)</sup> | &nbsp;&nbsp; 37214 | 1070698 |
| LX Holdings Corp. | &nbsp;&nbsp; 137385 | 712496 |
| LX International Corp. | &nbsp;&nbsp; 40808 | 915282 |
| LX Semicon Co. Ltd. | &nbsp;&nbsp; 16941 | 928639 |
| Medytox Inc. | &nbsp;&nbsp; 8402 | 1060390 |
| Meritz Financial Group Inc. | &nbsp;&nbsp; 124061 | 7646601 |
| Mirae Asset Securities Co. Ltd. | &nbsp;&nbsp; 325094 | 1845940 |
| Naturecell Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 78308 | 624663 |
| NAVER Corp. | &nbsp;&nbsp; 159511 | 20344417 |
| NCSoft Corp. | &nbsp;&nbsp; 19352 | 2483206 |
| Netmarble Corp.<sup>(b)(c)</sup> | &nbsp;&nbsp; 31468 | 1462834 |
| Nexen Tire Corp. | &nbsp;&nbsp; 48963 | 276578 |
| Nexon Games Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 73258 | 1272398 |
| NH Investment & Securities Co. Ltd. | &nbsp;&nbsp; 233072 | 2367559 |
| NHN Corp. | &nbsp;&nbsp; 36496 | 511934 |
| NongShim Co. Ltd. | &nbsp;&nbsp; 5696 | 2004131 |
| OCI Co. Ltd. | &nbsp;&nbsp; 9539 | 580399 |
| OCI Holdings Co. Ltd. | &nbsp;&nbsp; 21137 | 1136660 |
| Orion Corp./Republic of Korea | &nbsp;&nbsp; 29467 | 1888292 |
| Oscotec Inc.<sup>(b)</sup> | &nbsp;&nbsp; 56282 | 1704994 |
| Pan Ocean Co. Ltd. | &nbsp;&nbsp; 354924 | 1002950 |
| Paradise Co. Ltd. | &nbsp;&nbsp; 57062 | 491544 |
| Pearl Abyss Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 45056 | 1398645 |
| PI Advanced Materials Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 26582 | 542098 |
| Poongsan Corp. | &nbsp;&nbsp; 31668 | 1350861 |
| Posco DX Co. Ltd. | &nbsp;&nbsp; 72340 | 1533665 |
| POSCO Future M Co. Ltd. | &nbsp;&nbsp; 37360 | 5829749 |
| POSCO Holdings Inc. | &nbsp;&nbsp; 87095 | 22522797 |
| Posco International Corp. | &nbsp;&nbsp; 65133 | 2534595 |
| Rainbow Robotics<sup>(b)</sup> | &nbsp;&nbsp; 14777 | 1512172 |
| S-1 Corp. | &nbsp;&nbsp; 20485 | 844691 |
| Sam Chun Dang Pharm Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 22962 | 3070154 |
| Samsung Biologics Co. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 21957 | 15064479 |
| Samsung C&T Corp. | &nbsp;&nbsp; 106112 | 12086362 |
| Samsung E&A Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 188255 | 3932232 |
| Samsung Electro-Mechanics Co. Ltd. | &nbsp;&nbsp; 70366 | 8225957 |
| Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 5805692 | 357991851 |
| Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp; 38359 | 10430932 |
| Samsung Heavy Industries Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 724430 | 6210696 |
| Samsung Life Insurance Co. Ltd. | &nbsp;&nbsp; 91001 | 6422445 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| Samsung SDI Co. Ltd. | &nbsp;&nbsp; 66409 | $15614699 |
| Samsung SDS Co. Ltd. | &nbsp;&nbsp; 43333 | 4689102 |
| Samsung Securities Co. Ltd. | &nbsp;&nbsp; 82666 | 2704582 |
| Samyang Foods Co. Ltd. | &nbsp;&nbsp; 5354 | 2404807 |
| SD Biosensor Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 56710 | 398279 |
| Seah Besteel Holdings Corp. | &nbsp;&nbsp; 26113 | 360926 |
| Seegene Inc. | &nbsp;&nbsp; 56570 | 888999 |
| Seojin System Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 73713 | 1458197 |
| Seoul Semiconductor Co. Ltd. | &nbsp;&nbsp; 120651 | 805599 |
| SFA Engineering Corp. | &nbsp;&nbsp; 40481 | 749176 |
| Shin Poong Pharmaceutical Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 56311 | 487267 |
| Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp; 531087 | 23357694 |
| Shinsegae Inc.<sup>(a)</sup> | &nbsp;&nbsp; 8694 | 964050 |
| Shinsegae International Inc. | &nbsp;&nbsp; 18754 | 193972 |
| Shinsung Delta Tech Co. Ltd. | &nbsp;&nbsp; 27147 | 1048424 |
| Silicon2 Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 37179 | 1208112 |
| SK Biopharmaceuticals Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 39838 | 2502374 |
| SK Bioscience Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 38810 | 1575217 |
| SK Chemicals Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 20766 | 754334 |
| SK Hynix Inc. | &nbsp;&nbsp; 663740 | 95195905 |
| SK IE Technology Co. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 38456 | 1054188 |
| SK Inc. | &nbsp;&nbsp; 46328 | 5081209 |
| SK Innovation Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 70064 | 5342806 |
| SK Networks Co. Ltd. | &nbsp;&nbsp; 167542 | 568674 |
| SK Square Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 115123 | 7302164 |
| SK Telecom Co. Ltd. | &nbsp;&nbsp; 26733 | 1057797 |
| SKC Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 29333 | 2924672 |
| SM Entertainment Co. Ltd. | &nbsp;&nbsp; 22425 | 1155905 |
| S-Oil Corp. | &nbsp;&nbsp; 54967 | 2711620 |
| SOLUM Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 104918 | 1383812 |
| Solus Advanced Materials Co. Ltd. | &nbsp;&nbsp; 57717 | 639979 |
| Soop Co. Ltd. | &nbsp;&nbsp; 15867 | 1198425 |
| Soulbrain Co. Ltd. | &nbsp;&nbsp; 9556 | 1846076 |
| Synopex Inc.<sup>(b)</sup> | &nbsp;&nbsp; 96528 | 806772 |
| Taihan Electric Wire Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 125982 | 1268038 |
| TCC Steel | &nbsp;&nbsp; 22146 | 597163 |
| TechWing Inc. | &nbsp;&nbsp; 38079 | 1525488 |
| TKG Huchems Co. Ltd. | &nbsp;&nbsp; 39610 | 550492 |
| Tongyang Life Insurance Co. Ltd. | &nbsp;&nbsp; 107258 | 620916 |
| Webzen Inc. | &nbsp;&nbsp; 34492 | 433310 |
| Wemade Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 35162 | 967274 |
| Woori Financial Group Inc. | &nbsp;&nbsp; 735817 | 8469410 |
| YG Entertainment Inc. | &nbsp;&nbsp; 18444 | 517089 |
| Youngone Corp. | &nbsp;&nbsp; 21168 | 601640 |
| Youngone Holdings Co. Ltd. | &nbsp;&nbsp; 15947 | 944160 |
| Yuhan Corp. | &nbsp;&nbsp; 77029 | 5307290 |
|  |  | 1262597546 |
| **Spain — 1.6%** | **Spain — 1.6%** | **Spain — 1.6%** |
| Acciona SA | &nbsp;&nbsp; 33795 | 4381303 |
| Acerinox SA | &nbsp;&nbsp; 232910 | 2447300 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 242126 | 10817384 |
| Aena SME SA<sup>(c)</sup> | &nbsp;&nbsp; 89408 | 16987399 |
| Almirall SA | &nbsp;&nbsp; 136557 | 1361316 |
| Amadeus IT Group SA | &nbsp;&nbsp; 536770 | 35352114 |
| Atresmedia Corp. de Medios de Comunicacion SA | &nbsp;&nbsp; 138677 | 701142 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 7089477 | 74306309 |
| Banco de Sabadell SA | &nbsp;&nbsp; 6774243 | 14295309 |
| Banco Santander SA | &nbsp;&nbsp; 19135542 | 92312675 |
| Bankinter SA | &nbsp;&nbsp; 820891 | 7011597 |
| CaixaBank SA | &nbsp;&nbsp; 4633551 | 27023973 |
| Cellnex Telecom SA<sup>(c)</sup> | &nbsp;&nbsp; 600013 | 20926478 |
| Cia. de Distribucion Integral Logista Holdings SA | &nbsp;&nbsp; 67449 | 1997446 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Cie. Automotive SA | &nbsp;&nbsp; 112276 | $3279516 |
| Construcciones y Auxiliar de Ferrocarriles SA | &nbsp;&nbsp; 44743 | 1693945 |
| Enagas SA | &nbsp;&nbsp; 287409 | 4308822 |
| Ence Energia y Celulosa SA<sup>(b)</sup> | &nbsp;&nbsp; 277571 | 975191 |
| Endesa SA | &nbsp;&nbsp; 320975 | 6228263 |
| Faes Farma SA | &nbsp;&nbsp; 796805 | 3050454 |
| Ferrovial SE | &nbsp;&nbsp; 620624 | 24679584 |
| Fluidra SA | &nbsp;&nbsp; 138303 | 3081213 |
| Gestamp Automocion SA<sup>(c)</sup> | &nbsp;&nbsp; 202590 | 587571 |
| Global Dominion Access SA<sup>(c)</sup> | &nbsp;&nbsp; 253546 | 828143 |
| Grifols SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 328489 | 3317918 |
| Iberdrola SA | &nbsp;&nbsp; 7348212 | 97056606 |
| Indra Sistemas SA | &nbsp;&nbsp; 182219 | 3654198 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 1315658 | 63926325 |
| Inmobiliaria Colonial SOCIMI SA | &nbsp;&nbsp; 371948 | 2163721 |
| Laboratorios Farmaceuticos Rovi SA | &nbsp;&nbsp; 17523 | 1685961 |
| Lar Espana Real Estate SOCIMI SA | &nbsp;&nbsp; 82120 | 723437 |
| Linea Directa Aseguradora SA Cia de Seguros <br> y Reaseguros<br>| &nbsp;&nbsp; 866779 | 1037507 |
| Mapfre SA | &nbsp;&nbsp; 810763 | 1964828 |
| Melia Hotels International SA | &nbsp;&nbsp; 186435 | 1427500 |
| Merlin Properties SOCIMI SA | &nbsp;&nbsp; 435146 | 4969311 |
| Neinor Homes SA<sup>(c)</sup> | &nbsp;&nbsp; 57545 | 809615 |
| Pharma Mar SA<sup>(a)</sup> | &nbsp;&nbsp; 27623 | 1161640 |
| Prosegur Cia. de Seguridad SA | &nbsp;&nbsp; 370157 | 687434 |
| Redeia Corp. SA | &nbsp;&nbsp; 286554 | 5087730 |
| Repsol SA | &nbsp;&nbsp; 1473841 | 21021276 |
| Sacyr SA | &nbsp;&nbsp; 727216 | 2569241 |
| Solaria Energia y Medio Ambiente SA<sup>(b)</sup> | &nbsp;&nbsp; 122713 | 1465415 |
| Talgo SA<sup>(c)</sup> | &nbsp;&nbsp; 192819 | 874362 |
| Tecnicas Reunidas SA<sup>(b)</sup> | &nbsp;&nbsp; 102250 | 1275665 |
| Telefonica SA | &nbsp;&nbsp; 5751004 | 26047669 |
| Unicaja Banco SA<sup>(c)</sup> | &nbsp;&nbsp; 1807023 | 2432284 |
| Vidrala SA | &nbsp;&nbsp; 10326 | 1074652 |
| Viscofan SA | &nbsp;&nbsp; 49976 | 3332293 |
|  |  | 608401035 |
| **Sweden — 2.3%** | **Sweden — 2.3%** | **Sweden — 2.3%** |
| AAK AB | &nbsp;&nbsp; 212883 | 6126146 |
| AddLife AB, Class B | &nbsp;&nbsp; 173366 | 2541864 |
| AddTech AB, Class B | &nbsp;&nbsp; 332582 | 10732044 |
| AFRY AB | &nbsp;&nbsp; 145300 | 2633692 |
| Alfa Laval AB | &nbsp;&nbsp; 360420 | 15936345 |
| Alimak Group AB<sup>(c)</sup> | &nbsp;&nbsp; 85139 | 902585 |
| Alleima AB, NVS | &nbsp;&nbsp; 289888 | 2106602 |
| Arjo AB, Class B | &nbsp;&nbsp; 372968 | 1445493 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 1260304 | 38381673 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 3308120 | 58876784 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 1831398 | 28653891 |
| Attendo AB<sup>(c)</sup> | &nbsp;&nbsp; 121070 | 529085 |
| Avanza Bank Holding AB | &nbsp;&nbsp; 162504 | 3650462 |
| Axfood AB | &nbsp;&nbsp; 125462 | 3111596 |
| Beijer Ref AB, Class B | &nbsp;&nbsp; 490360 | 7786736 |
| Betsson AB | &nbsp;&nbsp; 206815 | 2461697 |
| Bilia AB, Class A | &nbsp;&nbsp; 114053 | 1419575 |
| Billerud Aktiebolag | &nbsp;&nbsp; 295321 | 2973763 |
| BioArctic AB, Class B<sup>(b)(c)</sup> | &nbsp;&nbsp; 52857 | 792065 |
| BioGaia AB, Class B | &nbsp;&nbsp; 181532 | 2161257 |
| Biotage AB | &nbsp;&nbsp; 112653 | 2112270 |
| Boliden AB | &nbsp;&nbsp; 327623 | 10019562 |
| BoneSupport Holding AB<sup>(b)(c)</sup> | &nbsp;&nbsp; 61659 | 1737609 |
| Bravida Holding AB<sup>(c)</sup> | &nbsp;&nbsp; 283288 | 2292981 |
| Bufab AB | &nbsp;&nbsp; 50211 | 2093615 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Bure Equity AB | &nbsp;&nbsp; 61025 | $2286264 |
| Camurus AB<sup>(b)</sup> | &nbsp;&nbsp; 58789 | 3720506 |
| Castellum AB<sup>(b)</sup> | &nbsp;&nbsp; 508831 | 6373977 |
| Catena AB | &nbsp;&nbsp; 32359 | 1647338 |
| Clas Ohlson AB, Class B | &nbsp;&nbsp; 86721 | 1377632 |
| Cloetta AB, Class B | &nbsp;&nbsp; 539566 | 1157811 |
| Corem Property Group AB, Class B | &nbsp;&nbsp; 996809 | 890160 |
| Dios Fastigheter AB | &nbsp;&nbsp; 134762 | 1081693 |
| Dometic Group AB<sup>(c)</sup> | &nbsp;&nbsp; 415449 | 2850404 |
| Electrolux AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 314298 | 2799580 |
| Electrolux Professional AB, Class B | &nbsp;&nbsp; 451186 | 2840071 |
| Elekta AB, Class B | &nbsp;&nbsp; 416672 | 2615912 |
| Embracer Group AB, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 979709 | 2506782 |
| Epiroc AB | &nbsp;&nbsp; 779120 | 14542565 |
| Epiroc AB, Class B | &nbsp;&nbsp; 499621 | 8400835 |
| EQT AB | &nbsp;&nbsp; 468153 | 15158739 |
| Essity AB, Class B | &nbsp;&nbsp; 748761 | 21052401 |
| Evolution AB<sup>(c)</sup> | &nbsp;&nbsp; 224434 | 21740752 |
| Fabege AB | &nbsp;&nbsp; 292753 | 2454918 |
| Fastighets AB Balder, Class B<sup>(b)</sup> | &nbsp;&nbsp; 809480 | 5969377 |
| Fortnox AB | &nbsp;&nbsp; 706303 | 4366751 |
| Getinge AB, Class B | &nbsp;&nbsp; 298608 | 5831174 |
| Granges AB | &nbsp;&nbsp; 132604 | 1618815 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 716028 | 11139565 |
| Hemnet Group AB | &nbsp;&nbsp; 104830 | 3874399 |
| Hexagon AB, Class B | &nbsp;&nbsp; 2517425 | 25638575 |
| Hexatronic Group AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 287313 | 1698381 |
| Hexpol AB | &nbsp;&nbsp; 362165 | 4050437 |
| HMS Networks AB | &nbsp;&nbsp; 64625 | 2514161 |
| Holmen AB, Class B | &nbsp;&nbsp; 120807 | 4749167 |
| Hufvudstaden AB, Class A | &nbsp;&nbsp; 156928 | 1901912 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 336522 | 2272582 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 161590 | 5543212 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 209484 | 7100904 |
| Indutrade AB | &nbsp;&nbsp; 350721 | 10312970 |
| Instalco AB | &nbsp;&nbsp; 376512 | 1793392 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 163362 | 4797361 |
| Investor AB, Class B | &nbsp;&nbsp; 2102533 | 59691159 |
| INVISIO AB | &nbsp;&nbsp; 82698 | 1932990 |
| JM AB | &nbsp;&nbsp; 138966 | 2709232 |
| Kindred Group PLC | &nbsp;&nbsp; 288296 | 3405431 |
| Kinnevik AB | &nbsp;&nbsp; 286213 | 2399759 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 74423 | 3762346 |
| Lifco AB, Class B | &nbsp;&nbsp; 321849 | 9548134 |
| Lindab International AB | &nbsp;&nbsp; 154663 | 3826478 |
| Loomis AB, Class B | &nbsp;&nbsp; 89662 | 2857099 |
| Medicover AB, Class B | &nbsp;&nbsp; 47149 | 850707 |
| MEKO AB | &nbsp;&nbsp; 85725 | 899739 |
| Millicom International Cellular SA, SDR<sup>(b)</sup> | &nbsp;&nbsp; 182577 | 4545192 |
| MIPS AB | &nbsp;&nbsp; 47020 | 2341253 |
| Modern Times Group MTG AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 136345 | 1046988 |
| Munters Group AB<sup>(c)</sup> | &nbsp;&nbsp; 186576 | 4039368 |
| Mycronic AB | &nbsp;&nbsp; 113320 | 3973698 |
| NCC AB, Class B | &nbsp;&nbsp; 151528 | 2339553 |
| New Wave Group AB, Class B | &nbsp;&nbsp; 83612 | 885439 |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 1944114 | 8542912 |
| Nolato AB, Class B | &nbsp;&nbsp; 361014 | 1938675 |
| Nordnet AB publ | &nbsp;&nbsp; 192090 | 3924389 |
| Nyfosa AB | &nbsp;&nbsp; 327690 | 3353718 |
| OX2 AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 198477 | 1099368 |
| Pandox AB, Class B | &nbsp;&nbsp; 110512 | 2050138 |
| Paradox Interactive AB | &nbsp;&nbsp; 52148 | 747462 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Peab AB, Class B | &nbsp;&nbsp; 229388 | $1710852 |
| Platzer Fastigheter Holding AB, Class B | &nbsp;&nbsp; 97402 | 890959 |
| Ratos AB, Class B | &nbsp;&nbsp; 376373 | 1211007 |
| Saab AB | &nbsp;&nbsp; 381430 | 8807606 |
| Sagax AB, Class B | &nbsp;&nbsp; 259941 | 6421682 |
| Samhallsbyggnadsbolaget i Norden AB | &nbsp;&nbsp; 1677102 | 1063162 |
| Sandvik AB | &nbsp;&nbsp; 1252150 | 25633791 |
| Scandic Hotels Group AB<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 411652 | 2505382 |
| Sectra AB, Class B | &nbsp;&nbsp; 155812 | 3547713 |
| Securitas AB, Class B | &nbsp;&nbsp; 553303 | 5952214 |
| Sinch AB<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 866197 | 2347765 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 1902673 | 29262136 |
| Skanska AB, Class B | &nbsp;&nbsp; 388556 | 7596955 |
| SKF AB, Class B | &nbsp;&nbsp; 378660 | 7039615 |
| SSAB AB, Class A | &nbsp;&nbsp; 233980 | 1207148 |
| SSAB AB, Class B | &nbsp;&nbsp; 829848 | 4206256 |
| Stillfront Group AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 681624 | 569915 |
| Storskogen Group AB | &nbsp;&nbsp; 1902116 | 1544495 |
| Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 771510 | 10487660 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 1777912 | 17946002 |
| Sweco AB, Class B | &nbsp;&nbsp; 243163 | 3929878 |
| Swedbank AB, Class A | &nbsp;&nbsp; 1015675 | 21597252 |
| Swedish Orphan Biovitrum AB<sup>(b)</sup> | &nbsp;&nbsp; 223817 | 5847682 |
| Tele2 AB, Class B | &nbsp;&nbsp; 655648 | 6750330 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 3221596 | 22151238 |
| Telia Co. AB | &nbsp;&nbsp; 2641518 | 7677235 |
| Thule Group AB<sup>(c)</sup> | &nbsp;&nbsp; 165484 | 4575193 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 273164 | 10151476 |
| Truecaller AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 404909 | 1282439 |
| Vitec Software Group AB, Class B | &nbsp;&nbsp; 43624 | 2282090 |
| Vitrolife AB | &nbsp;&nbsp; 99537 | 2140668 |
| Volvo AB, Class A | &nbsp;&nbsp; 247250 | 6427634 |
| Volvo AB, Class B | &nbsp;&nbsp; 1889426 | 48219571 |
| Volvo Car AB<sup>(b)</sup> | &nbsp;&nbsp; 825204 | 2341383 |
| Wallenstam AB, Class B | &nbsp;&nbsp; 489955 | 2471420 |
| Wihlborgs Fastigheter AB | &nbsp;&nbsp; 382516 | 3874518 |
| Yubico AB<sup>(b)</sup> | &nbsp;&nbsp; 57837 | 1461979 |
|  |  | 857996395 |
| **Switzerland — 5.8%** | **Switzerland — 5.8%** | **Switzerland — 5.8%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 1959021 | 108738615 |
| Accelleron Industries AG, NVS | &nbsp;&nbsp; 130114 | 6438644 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 188116 | 6403151 |
| Alcon Inc. | &nbsp;&nbsp; 606250 | 57402498 |
| Allreal Holding AG, Registered | &nbsp;&nbsp; 17598 | 3137308 |
| ALSO Holding AG, Registered | &nbsp;&nbsp; 9279 | 2813309 |
| ams-OSRAM AG<sup>(b)</sup> | &nbsp;&nbsp; 1349989 | 1812575 |
| Aryzta AG<sup>(b)</sup> | &nbsp;&nbsp; 2013586 | 3854840 |
| Autoneum Holding AG<sup>(a)</sup> | &nbsp;&nbsp; 5669 | 890482 |
| Avolta AG, Registered | &nbsp;&nbsp; 106759 | 4028169 |
| Bachem Holding AG | &nbsp;&nbsp; 38260 | 3433518 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 56074 | 10035074 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 39877 | 4232840 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 4455 | 7168147 |
| Basilea Pharmaceutica AG, Registered<sup>(b)</sup> | &nbsp;&nbsp; 29738 | 1346722 |
| Belimo Holding AG, Registered | &nbsp;&nbsp; 13342 | 8088188 |
| Bell Food Group AG, Registered | &nbsp;&nbsp; 2275 | 644076 |
| BKW AG | &nbsp;&nbsp; 30265 | 5474679 |
| Bossard Holding AG, Class A, Registered | &nbsp;&nbsp; 8314 | 2119073 |
| Bucher Industries AG, Registered | &nbsp;&nbsp; 7063 | 2861426 |
| Burckhardt Compression Holding AG | &nbsp;&nbsp; 5753 | 4008407 |
| Bystronic AG, Registered | &nbsp;&nbsp; 1498 | 538863 |
| Cembra Money Bank AG | &nbsp;&nbsp; 39756 | 3471575 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Chocoladefabriken Lindt & Spruengli AG, <br> Participation Certificates, NVS<br>| &nbsp;&nbsp; 1220 | $15290993 |
| Chocoladefabriken Lindt & Spruengli <br> AG, Registered<br>| &nbsp;&nbsp; 124 | 15354718 |
| Cie. Financiere Richemont SA, <br> Class A, Registered<br>| &nbsp;&nbsp; 656994 | 100212156 |
| Clariant AG, Registered | &nbsp;&nbsp; 242392 | 3595535 |
| Comet Holding AG, Registered | &nbsp;&nbsp; 11438 | 4582984 |
| COSMO Pharmaceuticals NV | &nbsp;&nbsp; 19032 | 1617530 |
| Daetwyler Holding AG, Bearer | &nbsp;&nbsp; 10471 | 2178302 |
| DKSH Holding AG | &nbsp;&nbsp; 43781 | 3431652 |
| DocMorris AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 17772 | 900299 |
| dormakaba Holding AG | &nbsp;&nbsp; 5775 | 3497686 |
| EFG International AG | &nbsp;&nbsp; 229368 | 3278459 |
| Emmi AG, Registered | &nbsp;&nbsp; 1546 | 1625700 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 8606 | 7196647 |
| Flughafen Zurich AG, Registered | &nbsp;&nbsp; 22408 | 5185965 |
| Forbo Holding AG, Registered | &nbsp;&nbsp; 1513 | 1629745 |
| Galenica AG<sup>(c)</sup> | &nbsp;&nbsp; 61388 | 5339417 |
| Geberit AG, Registered | &nbsp;&nbsp; 43122 | 27454316 |
| Georg Fischer AG | &nbsp;&nbsp; 99728 | 7327613 |
| Givaudan SA, Registered | &nbsp;&nbsp; 11288 | 55379543 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 44695 | 6667559 |
| Holcim AG | &nbsp;&nbsp; 633973 | 59245034 |
| Huber + Suhner AG, Registered | &nbsp;&nbsp; 32205 | 2820016 |
| Implenia AG, Registered | &nbsp;&nbsp; 18572 | 673047 |
| Inficon Holding AG, Registered | &nbsp;&nbsp; 2350 | 3504015 |
| Interroll Holding AG, Registered | &nbsp;&nbsp; 775 | 2504185 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 246236 | 13475911 |
| Kardex Holding AG, Registered | &nbsp;&nbsp; 10394 | 3165390 |
| Komax Holding AG, Registered<sup>(a)</sup> | &nbsp;&nbsp; 6287 | 955518 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 60491 | 18751641 |
| Landis+Gyr Group AG | &nbsp;&nbsp; 34734 | 3146244 |
| LEM Holding SA, Registered | &nbsp;&nbsp; 842 | 1229737 |
| Leonteq AG | &nbsp;&nbsp; 15913 | 481333 |
| Logitech International SA, Registered | &nbsp;&nbsp; 193091 | 17392889 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 90370 | 60178211 |
| Medmix AG<sup>(c)</sup> | &nbsp;&nbsp; 36563 | 504863 |
| Mobilezone Holding AG, Registered | &nbsp;&nbsp; 51469 | 839313 |
| Mobimo Holding AG, Registered | &nbsp;&nbsp; 11989 | 3590799 |
| Nestle SA, Registered | &nbsp;&nbsp; 3242164 | 328407197 |
| Novartis AG, Registered | &nbsp;&nbsp; 2396424 | 267507598 |
| OC Oerlikon Corp. AG, Registered | &nbsp;&nbsp; 299011 | 1681981 |
| Partners Group Holding AG | &nbsp;&nbsp; 27234 | 36658128 |
| PSP Swiss Property AG, Registered | &nbsp;&nbsp; 56884 | 7601463 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 36558 | 12857882 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 855751 | 277057416 |
| Sandoz Group AG | &nbsp;&nbsp; 507054 | 21992581 |
| Schindler Holding AG, Participation <br> Certificates, NVS<br>| &nbsp;&nbsp; 51411 | 13760358 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 27809 | 7300959 |
| Schweiter Technologies AG, NVS | &nbsp;&nbsp; 1583 | 743032 |
| Sensirion Holding AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 15377 | 1442547 |
| SFS Group AG | &nbsp;&nbsp; 22006 | 3213693 |
| SGS SA | &nbsp;&nbsp; 179149 | 19586947 |
| Siegfried Holding AG, Registered | &nbsp;&nbsp; 5195 | 6055047 |
| SIG Group AG | &nbsp;&nbsp; 383133 | 8045825 |
| Sika AG, Registered | &nbsp;&nbsp; 187280 | 56861227 |
| Softwareone Holding AG | &nbsp;&nbsp; 137704 | 2749323 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 63344 | 19417214 |
| Stadler Rail AG | &nbsp;&nbsp; 66160 | 2024845 |
| Straumann Holding AG | &nbsp;&nbsp; 138744 | 17891276 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Sulzer AG, Registered | &nbsp;&nbsp; 29738 | $4421082 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 35204 | 7250437 |
| Swatch Group AG (The), Registered | &nbsp;&nbsp; 66422 | 2693249 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 37331 | 28584866 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 90369 | 9056809 |
| Swiss Re AG | &nbsp;&nbsp; 362972 | 44748401 |
| Swisscom AG, Registered | &nbsp;&nbsp; 31675 | 19386432 |
| Swissquote Group Holding SA, Registered | &nbsp;&nbsp; 14300 | 4560947 |
| Tecan Group AG, Registered | &nbsp;&nbsp; 14958 | 5585559 |
| Temenos AG, Registered | &nbsp;&nbsp; 80185 | 5567925 |
| UBS Group AG, Registered | &nbsp;&nbsp; 4002943 | 121291864 |
| Valiant Holding AG, Registered | &nbsp;&nbsp; 24670 | 2802164 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 34331 | 17204496 |
| Vontobel Holding AG, Registered | &nbsp;&nbsp; 40341 | 2643239 |
| Ypsomed Holding AG, Registered | &nbsp;&nbsp; 8401 | 3860773 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 176116 | 96823315 |
|  |  | 2202485241 |
| **Taiwan — 5.5%** | **Taiwan — 5.5%** | **Taiwan — 5.5%** |
| AcBel Polytech Inc. | &nbsp;&nbsp; 1553000 | 1707267 |
| Accton Technology Corp. | &nbsp;&nbsp; 595000 | 9326790 |
| Acer Inc. | &nbsp;&nbsp; 3433148 | 4633947 |
| Acter Group Corp. Ltd. | &nbsp;&nbsp; 255000 | 1880287 |
| ADATA Technology Co. Ltd. | &nbsp;&nbsp; 521000 | 1495117 |
| Advanced Ceramic X Corp. | &nbsp;&nbsp; 114000 | 625595 |
| Advanced Energy Solution Holding Co. Ltd. | &nbsp;&nbsp; 68000 | 1089839 |
| Advanced Wireless Semiconductor Co.<sup>(b)</sup> | &nbsp;&nbsp; 416631 | 1369515 |
| Advantech Co. Ltd. | &nbsp;&nbsp; 495756 | 5273138 |
| Airoha Technology Corp., NVS | &nbsp;&nbsp; 56000 | 1064667 |
| Airtac International Group | &nbsp;&nbsp; 155185 | 3977960 |
| Alchip Technologies Ltd. | &nbsp;&nbsp; 97000 | 7900569 |
| Allis Electric Co. Ltd. | &nbsp;&nbsp; 289000 | 1224423 |
| Ambassador Hotel (The) | &nbsp;&nbsp; 94000 | 204758 |
| Andes Technology Corp. | &nbsp;&nbsp; 128000 | 1466961 |
| AP Memory Technology Corp. | &nbsp;&nbsp; 206000 | 2026516 |
| Ardentec Corp. | &nbsp;&nbsp; 671000 | 1313367 |
| ASE Technology Holding Co. Ltd. | &nbsp;&nbsp; 3801958 | 17744150 |
| Asia Cement Corp. | &nbsp;&nbsp; 2001329 | 2528386 |
| Asia Optical Co. Inc. | &nbsp;&nbsp; 570000 | 1572521 |
| Asia Vital Components Co. Ltd. | &nbsp;&nbsp; 412709 | 8217880 |
| ASMedia Technology Inc. | &nbsp;&nbsp; 51000 | 2634344 |
| ASPEED Technology Inc. | &nbsp;&nbsp; 35600 | 4485587 |
| Asustek Computer Inc. | &nbsp;&nbsp; 853000 | 11962192 |
| AUO Corp. | &nbsp;&nbsp; 7105400 | 3879555 |
| AURAS Technology Co. Ltd. | &nbsp;&nbsp; 101000 | 2098779 |
| BES Engineering Corp. | &nbsp;&nbsp; 3890000 | 1863364 |
| Bizlink Holding Inc. | &nbsp;&nbsp; 246443 | 2876929 |
| Bora Pharmaceuticals Co. Ltd. | &nbsp;&nbsp; 98336 | 2463613 |
| Brighton-Best International Taiwan Inc. | &nbsp;&nbsp; 950000 | 1020231 |
| Capital Securities Corp. | &nbsp;&nbsp; 4055450 | 2908801 |
| Career Technology MFG. Co. Ltd. | &nbsp;&nbsp; 1144215 | 799846 |
| Catcher Technology Co. Ltd. | &nbsp;&nbsp; 548000 | 3569549 |
| Cathay Financial Holding Co. Ltd. | &nbsp;&nbsp; 11398254 | 21825626 |
| Center Laboratories Inc. | &nbsp;&nbsp; 926518 | 1414397 |
| Century Iron & Steel Industrial Co. Ltd. | &nbsp;&nbsp; 298000 | 2011610 |
| Chailease Holding Co. Ltd. | &nbsp;&nbsp; 1704675 | 7952567 |
| Chang Hwa Commercial Bank Ltd. | &nbsp;&nbsp; 5699840 | 3259924 |
| Chenbro Micom Co. Ltd. | &nbsp;&nbsp; 83000 | 713597 |
| Cheng Loong Corp. | &nbsp;&nbsp; 1613000 | 1293303 |
| Cheng Shin Rubber Industry Co. Ltd. | &nbsp;&nbsp; 1868500 | 2753149 |
| Cheng Uei Precision Industry Co. Ltd. | &nbsp;&nbsp; 709000 | 1533746 |
| Chicony Electronics Co. Ltd. | &nbsp;&nbsp; 674137 | 3212565 |
| China Airlines Ltd. | &nbsp;&nbsp; 3795000 | 2669603 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Taiwan (continued)** | **Taiwan (continued)** | **Taiwan (continued)** |
| China Bills Finance Corp. | &nbsp;&nbsp; 1992000 | $906902 |
| China Development Financial Holding Corp. | &nbsp;&nbsp; 20228340 | 9983509 |
| China Man-Made Fiber Corp.<sup>(b)</sup> | &nbsp;&nbsp; 3530135 | 917338 |
| China Motor Corp. | &nbsp;&nbsp; 355000 | 1065812 |
| China Petrochemical Development Corp.<sup>(b)</sup> | &nbsp;&nbsp; 7526587 | 2412188 |
| China Steel Chemical Corp. | &nbsp;&nbsp; 457000 | 1400768 |
| China Steel Corp. | &nbsp;&nbsp; 13657575 | 9666452 |
| Chin-Poon Industrial Co. Ltd. | &nbsp;&nbsp; 918000 | 1262072 |
| Chipbond Technology Corp. | &nbsp;&nbsp; 1061000 | 2063837 |
| ChipMOS Technologies Inc. | &nbsp;&nbsp; 1633000 | 1972042 |
| Chlitina Holding Ltd. | &nbsp;&nbsp; 133924 | 603004 |
| Chroma ATE Inc. | &nbsp;&nbsp; 460000 | 4283031 |
| Chung-Hsin Electric & Machinery <br> Manufacturing Corp.<br>| &nbsp;&nbsp; 674000 | 3908212 |
| Chunghwa Precision Test Tech Co. Ltd. | &nbsp;&nbsp; 41000 | 541170 |
| Chunghwa Telecom Co. Ltd. | &nbsp;&nbsp; 4289000 | 15892820 |
| Compal Electronics Inc. | &nbsp;&nbsp; 4448000 | 4309740 |
| Compeq Manufacturing Co. Ltd. | &nbsp;&nbsp; 1407000 | 3376685 |
| Coretronic Corp. | &nbsp;&nbsp; 597000 | 1369860 |
| CTBC Financial Holding Co. Ltd. | &nbsp;&nbsp; 21907980 | 23779307 |
| CTCI Corp. | &nbsp;&nbsp; 1060000 | 1735197 |
| Cub Elecparts Inc. | &nbsp;&nbsp; 186016 | 645181 |
| Darfon Electronics Corp. | &nbsp;&nbsp; 471000 | 798511 |
| Delta Electronics Inc. | &nbsp;&nbsp; 2329000 | 29913269 |
| E Ink Holdings Inc. | &nbsp;&nbsp; 1094000 | 9026742 |
| E.Sun Financial Holding Co. Ltd. | &nbsp;&nbsp; 19025780 | 15414392 |
| Eclat Textile Co. Ltd. | &nbsp;&nbsp; 188365 | 3059309 |
| EirGenix Inc.<sup>(b)</sup> | &nbsp;&nbsp; 321000 | 856397 |
| Elan Microelectronics Corp. | &nbsp;&nbsp; 581000 | 2458725 |
| Elite Material Co. Ltd. | &nbsp;&nbsp; 361000 | 4905396 |
| Elite Semiconductor Microelectronics <br> Technology Inc.<br>| &nbsp;&nbsp; 670000 | 1749646 |
| eMemory Technology Inc. | &nbsp;&nbsp; 74000 | 5256607 |
| Ennoconn Corp. | &nbsp;&nbsp; 165273 | 1543410 |
| Ennostar Inc. | &nbsp;&nbsp; 1181500 | 1486609 |
| Episil Technologies Inc.<sup>(b)</sup> | &nbsp;&nbsp; 529350 | 999857 |
| Eternal Materials Co. Ltd. | &nbsp;&nbsp; 1755253 | 1648056 |
| Eva Airways Corp. | &nbsp;&nbsp; 2694332 | 2839612 |
| Evergreen Marine Corp. Taiwan Ltd. | &nbsp;&nbsp; 1268590 | 6588970 |
| Everlight Electronics Co. Ltd. | &nbsp;&nbsp; 1052000 | 2512574 |
| Far Eastern Department Stores Ltd. | &nbsp;&nbsp; 1094702 | 1020927 |
| Far Eastern International Bank | &nbsp;&nbsp; 6353436 | 2988466 |
| Far Eastern New Century Corp. | &nbsp;&nbsp; 2426071 | 2523791 |
| Far EasTone Telecommunications Co. Ltd. | &nbsp;&nbsp; 2113000 | 5566293 |
| Faraday Technology Corp. | &nbsp;&nbsp; 337968 | 3121091 |
| Feng Hsin Steel Co. Ltd. | &nbsp;&nbsp; 725000 | 1754669 |
| Feng TAY Enterprise Co. Ltd. | &nbsp;&nbsp; 467564 | 2002660 |
| First Financial Holding Co. Ltd. | &nbsp;&nbsp; 12199960 | 10926927 |
| Fitipower Integrated Technology Inc. | &nbsp;&nbsp; 176250 | 1417478 |
| FLEXium Interconnect Inc. | &nbsp;&nbsp; 476987 | 1290687 |
| Formosa Chemicals & Fibre Corp. | &nbsp;&nbsp; 4548660 | 6925616 |
| Formosa Petrochemical Corp. | &nbsp;&nbsp; 953000 | 1869857 |
| Formosa Plastics Corp. | &nbsp;&nbsp; 4348040 | 7677862 |
| Fortune Electric Co. Ltd. | &nbsp;&nbsp; 183700 | 3920337 |
| Fositek Corp. | &nbsp;&nbsp; 59000 | 1296834 |
| Foxconn Technology Co. Ltd. | &nbsp;&nbsp; 1274287 | 2563484 |
| Fubon Financial Holding Co. Ltd. | &nbsp;&nbsp; 8859469 | 23991112 |
| Fulgent Sun International Holding Co. Ltd. | &nbsp;&nbsp; 250824 | 907726 |
| General Interface Solution Holding Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 347000 | 666933 |
| Genius Electronic Optical Co. Ltd. | &nbsp;&nbsp; 141281 | 2280716 |
| Getac Holdings Corp. | &nbsp;&nbsp; 707000 | 2226966 |
| Giant Manufacturing Co. Ltd. | &nbsp;&nbsp; 409189 | 2965809 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Taiwan (continued)** | **Taiwan (continued)** | **Taiwan (continued)** |
| Gigabyte Technology Co. Ltd. | &nbsp;&nbsp; 649000 | $5248633 |
| Global Unichip Corp. | &nbsp;&nbsp; 111000 | 3995453 |
| Globalwafers Co. Ltd. | &nbsp;&nbsp; 292000 | 4441817 |
| Gloria Material Technology Corp. | &nbsp;&nbsp; 1163000 | 1668480 |
| Gold Circuit Electronics Ltd. | &nbsp;&nbsp; 444000 | 3024658 |
| Goldsun Building Materials Co. Ltd. | &nbsp;&nbsp; 1912056 | 3078276 |
| Gourmet Master Co. Ltd. | &nbsp;&nbsp; 129000 | 326188 |
| Grand Pacific Petrochemical<sup>(b)</sup> | &nbsp;&nbsp; 2283189 | 1011594 |
| Grand Process Technology Corp. | &nbsp;&nbsp; 29000 | 1392251 |
| Grape King Bio Ltd. | &nbsp;&nbsp; 210000 | 912173 |
| Great Wall Enterprise Co. Ltd. | &nbsp;&nbsp; 1626195 | 2850289 |
| Gudeng Precision Industrial Co. Ltd. | &nbsp;&nbsp; 132000 | 1853759 |
| HannStar Display Corp.<sup>(b)</sup> | &nbsp;&nbsp; 3910000 | 1092685 |
| Highwealth Construction Corp. | &nbsp;&nbsp; 2269928 | 4444658 |
| Hiwin Technologies Corp. | &nbsp;&nbsp; 539879 | 3320266 |
| Holy Stone Enterprise Co. Ltd. | &nbsp;&nbsp; 381550 | 1036697 |
| Hon Hai Precision Industry Co. Ltd. | &nbsp;&nbsp; 15142769 | 92899614 |
| Hota Industrial Manufacturing Co. Ltd. | &nbsp;&nbsp; 367194 | 755146 |
| Hotai Motor Co. Ltd. | &nbsp;&nbsp; 364600 | 7230710 |
| HTC Corp.<sup>(b)</sup> | &nbsp;&nbsp; 1022000 | 1380272 |
| Hua Nan Financial Holdings Co. Ltd. | &nbsp;&nbsp; 11726128 | 9930671 |
| Huaku Development Co. Ltd. | &nbsp;&nbsp; 624800 | 3180293 |
| IBF Financial Holdings Co. Ltd. | &nbsp;&nbsp; 6312418 | 2930004 |
| Innolux Corp. | &nbsp;&nbsp; 9794847 | 4606707 |
| International CSRC Investment Holdings Co.<sup>(b)</sup> | &nbsp;&nbsp; 1872921 | 976262 |
| International Games System Co. Ltd. | &nbsp;&nbsp; 374000 | 8556718 |
| Inventec Corp. | &nbsp;&nbsp; 3083000 | 4559024 |
| ITEQ Corp. | &nbsp;&nbsp; 460101 | 1292577 |
| Jentech Precision Industrial Co. Ltd. | &nbsp;&nbsp; 147993 | 5317373 |
| Jinan Acetate Chemical Co. Ltd. | &nbsp;&nbsp; 81827 | 2172523 |
| Kaori Heat Treatment Co. Ltd. | &nbsp;&nbsp; 127000 | 1380876 |
| Kenda Rubber Industrial Co. Ltd. | &nbsp;&nbsp; 1094968 | 1066455 |
| Kenmec Mechanical Engineering Co. Ltd. | &nbsp;&nbsp; 261128 | 797049 |
| King Slide Works Co. Ltd. | &nbsp;&nbsp; 73000 | 2524179 |
| King Yuan Electronics Co. Ltd. | &nbsp;&nbsp; 1648000 | 5372742 |
| King's Town Bank Co. Ltd. | &nbsp;&nbsp; 1352000 | 2425494 |
| Kinik Co. | &nbsp;&nbsp; 127000 | 1227093 |
| Kinsus Interconnect Technology Corp. | &nbsp;&nbsp; 389000 | 1272202 |
| L&K Engineering Co. Ltd. | &nbsp;&nbsp; 227000 | 1628396 |
| LandMark Optoelectronics Corp. | &nbsp;&nbsp; 150000 | 564294 |
| Largan Precision Co. Ltd. | &nbsp;&nbsp; 113000 | 9803907 |
| Lien Hwa Industrial Holdings Corp. | &nbsp;&nbsp; 1554120 | 2966447 |
| Lite-On Technology Corp. | &nbsp;&nbsp; 2314074 | 7077155 |
| Lotes Co. Ltd. | &nbsp;&nbsp; 108841 | 4688477 |
| Lotus Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 196000 | 1584102 |
| M31 Technology Corp. | &nbsp;&nbsp; 52801 | 1822407 |
| Macronix International Co. Ltd. | &nbsp;&nbsp; 2169525 | 1954205 |
| Makalot Industrial Co. Ltd. | &nbsp;&nbsp; 299866 | 4110064 |
| MediaTek Inc. | &nbsp;&nbsp; 1847970 | 70380157 |
| Medigen Vaccine Biologics Corp.<sup>(b)</sup> | &nbsp;&nbsp; 450595 | 640868 |
| Mega Financial Holding Co. Ltd. | &nbsp;&nbsp; 12904939 | 17016658 |
| Merida Industry Co. Ltd. | &nbsp;&nbsp; 326350 | 2499271 |
| Merry Electronics Co. Ltd. | &nbsp;&nbsp; 406697 | 1537281 |
| Microbio Co. Ltd. | &nbsp;&nbsp; 676803 | 834574 |
| Micro-Star International Co. Ltd. | &nbsp;&nbsp; 804000 | 4194854 |
| Mitac Holdings Corp. | &nbsp;&nbsp; 1670198 | 2172941 |
| MPI Corp. | &nbsp;&nbsp; 176000 | 2922453 |
| Nan Kang Rubber Tire Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 907000 | 1461992 |
| Nan Ya Plastics Corp. | &nbsp;&nbsp; 5645300 | 8638254 |
| Nan Ya Printed Circuit Board Corp. | &nbsp;&nbsp; 282000 | 1443923 |
| Nanya Technology Corp.<sup>(b)</sup> | &nbsp;&nbsp; 1140000 | 2006846 |
| Nien Made Enterprise Co. Ltd. | &nbsp;&nbsp; 252000 | 3060542 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Taiwan (continued)** | **Taiwan (continued)** | **Taiwan (continued)** |
| Novatek Microelectronics Corp. | &nbsp;&nbsp; 694000 | $11192525 |
| Nuvoton Technology Corp. | &nbsp;&nbsp; 549000 | 1764616 |
| OBI Pharma Inc.<sup>(b)</sup> | &nbsp;&nbsp; 414864 | 752757 |
| Oneness Biotech Co. Ltd. | &nbsp;&nbsp; 516271 | 2497618 |
| Orient Semiconductor Electronics Ltd. | &nbsp;&nbsp; 557000 | 829679 |
| Oriental Union Chemical Corp. | &nbsp;&nbsp; 1445000 | 788883 |
| Pan Jit International Inc. | &nbsp;&nbsp; 677000 | 1133586 |
| Parade Technologies Ltd. | &nbsp;&nbsp; 106000 | 2405681 |
| Pegatron Corp. | &nbsp;&nbsp; 2059000 | 6360504 |
| PharmaEssentia Corp.<sup>(b)</sup> | &nbsp;&nbsp; 290000 | 5822305 |
| Phihong Technology Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 839073 | 1089860 |
| Phison Electronics Corp. | &nbsp;&nbsp; 183000 | 2883222 |
| Pixart Imaging Inc. | &nbsp;&nbsp; 302000 | 1509597 |
| Polaris Group/Tw<sup>(b)</sup> | &nbsp;&nbsp; 498000 | 969505 |
| Pou Chen Corp. | &nbsp;&nbsp; 2233000 | 2464842 |
| Powerchip Semiconductor Manufacturing Corp.<sup>(b)</sup> | &nbsp;&nbsp; 3322000 | 2353640 |
| Powertech Technology Inc. | &nbsp;&nbsp; 723000 | 3635546 |
| President Chain Store Corp. | &nbsp;&nbsp; 572000 | 4844974 |
| Primax Electronics Ltd. | &nbsp;&nbsp; 819000 | 2294331 |
| Prince Housing & Development Corp. | &nbsp;&nbsp; 2790521 | 1059472 |
| Qisda Corp. | &nbsp;&nbsp; 2579000 | 2753984 |
| Quanta Computer Inc. | &nbsp;&nbsp; 3298000 | 28098133 |
| Quanta Storage Inc. | &nbsp;&nbsp; 222000 | 683656 |
| Radiant Opto-Electronics Corp. | &nbsp;&nbsp; 522060 | 2851102 |
| Raydium Semiconductor Corp. | &nbsp;&nbsp; 111000 | 1272216 |
| Realtek Semiconductor Corp. | &nbsp;&nbsp; 556020 | 8771192 |
| RichWave Technology Corp.<sup>(b)</sup> | &nbsp;&nbsp; 206668 | 1385015 |
| Ruentex Development Co. Ltd. | &nbsp;&nbsp; 2288469 | 3592591 |
| Ruentex Industries Ltd. | &nbsp;&nbsp; 1128044 | 2773890 |
| Sanyang Motor Co. Ltd. | &nbsp;&nbsp; 873000 | 2044813 |
| Sercomm Corp. | &nbsp;&nbsp; 521000 | 1819921 |
| Shanghai Commercial & Savings Bank Ltd. (The) | &nbsp;&nbsp; 4243007 | 5405495 |
| Shihlin Electric & Engineering Corp. | &nbsp;&nbsp; 364000 | 2681108 |
| Shin Kong Financial Holding Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 13312928 | 4421796 |
| Shin Zu Shing Co. Ltd. | &nbsp;&nbsp; 275190 | 1793632 |
| Shinkong Synthetic Fibers Corp. | &nbsp;&nbsp; 3361000 | 1761343 |
| Silergy Corp. | &nbsp;&nbsp; 406000 | 5613149 |
| Silicon Integrated Systems Corp. | &nbsp;&nbsp; 707200 | 1707003 |
| Simplo Technology Co. Ltd. | &nbsp;&nbsp; 197200 | 2167262 |
| Sinbon Electronics Co. Ltd. | &nbsp;&nbsp; 280000 | 2814214 |
| Sino-American Silicon Products Inc. | &nbsp;&nbsp; 562000 | 3310843 |
| SinoPac Financial Holdings Co. Ltd. | &nbsp;&nbsp; 12850395 | 10460321 |
| Sitronix Technology Corp. | &nbsp;&nbsp; 258000 | 1964743 |
| Standard Foods Corp. | &nbsp;&nbsp; 829422 | 1003987 |
| Sunonwealth Electric Machine Industry Co. Ltd. | &nbsp;&nbsp; 263000 | 773548 |
| Supreme Electronics Co. Ltd. | &nbsp;&nbsp; 864000 | 2064208 |
| Synnex Technology International Corp. | &nbsp;&nbsp; 1338600 | 2907874 |
| TA Chen Stainless Pipe | &nbsp;&nbsp; 2676561 | 3196301 |
| Ta Ya Electric Wire & Cable | &nbsp;&nbsp; 1514000 | 2510328 |
| Taichung Commercial Bank Co. Ltd. | &nbsp;&nbsp; 4685194 | 2546822 |
| TaiDoc Technology Corp. | &nbsp;&nbsp; 155000 | 766651 |
| TaiMed Biologics Inc.<sup>(b)</sup> | &nbsp;&nbsp; 493338 | 1241951 |
| Tainan Spinning Co. Ltd. | &nbsp;&nbsp; 3200816 | 1724348 |
| Taishin Financial Holding Co. Ltd. | &nbsp;&nbsp; 12544570 | 7774679 |
| Taiwan Business Bank | &nbsp;&nbsp; 8132031 | 4659472 |
| Taiwan Cement Corp. | &nbsp;&nbsp; 7914081 | 8373334 |
| Taiwan Cooperative Financial Holding Co. Ltd. | &nbsp;&nbsp; 12161833 | 9972514 |
| Taiwan Fertilizer Co. Ltd. | &nbsp;&nbsp; 1368000 | 2692076 |
| Taiwan High Speed Rail Corp. | &nbsp;&nbsp; 2303000 | 2091300 |
| Taiwan Hon Chuan Enterprise Co. Ltd. | &nbsp;&nbsp; 645696 | 3074275 |
| Taiwan Mask Corp. | &nbsp;&nbsp; 454000 | 995108 |
| Taiwan Mobile Co. Ltd. | &nbsp;&nbsp; 2182000 | 7019499 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Taiwan (continued)** | **Taiwan (continued)** | **Taiwan (continued)** |
| Taiwan Secom Co. Ltd. | &nbsp;&nbsp; 600105 | $2427966 |
| Taiwan Semiconductor Co. Ltd. | &nbsp;&nbsp; 484000 | 934236 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 29996000 | 875021993 |
| Taiwan Surface Mounting Technology Corp. | &nbsp;&nbsp; 417000 | 1573847 |
| Taiwan Union Technology Corp. | &nbsp;&nbsp; 450000 | 2221433 |
| Tatung Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1738000 | 2663158 |
| TCI Co. Ltd. | &nbsp;&nbsp; 156896 | 684958 |
| Teco Electric and Machinery Co. Ltd. | &nbsp;&nbsp; 2016000 | 2997942 |
| Test Research Inc. | &nbsp;&nbsp; 199000 | 894262 |
| Tong Hsing Electronic Industries Ltd. | &nbsp;&nbsp; 557931 | 2359860 |
| Tong Yang Industry Co. Ltd. | &nbsp;&nbsp; 474000 | 1348499 |
| Topco Scientific Co. Ltd. | &nbsp;&nbsp; 212000 | 1743734 |
| Transcend Information Inc. | &nbsp;&nbsp; 610000 | 1851684 |
| Tripod Technology Corp. | &nbsp;&nbsp; 507000 | 3111481 |
| TSRC Corp. | &nbsp;&nbsp; 1592100 | 1105496 |
| TTY Biopharm Co. Ltd. | &nbsp;&nbsp; 518965 | 1171926 |
| Tung Ho Steel Enterprise Corp. | &nbsp;&nbsp; 1023540 | 2294947 |
| TXC Corp. | &nbsp;&nbsp; 753000 | 2378053 |
| Unimicron Technology Corp. | &nbsp;&nbsp; 1660000 | 9250205 |
| Uni-President Enterprises Corp. | &nbsp;&nbsp; 6404292 | 16458423 |
| Unitech Printed Circuit Board Corp. | &nbsp;&nbsp; 716000 | 781874 |
| United Integrated Services Co. Ltd. | &nbsp;&nbsp; 343000 | 3593355 |
| United Microelectronics Corp. | &nbsp;&nbsp; 13608000 | 21678800 |
| United Renewable Energy Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2851000 | 1105681 |
| UPI Semiconductor Corp.<sup>(b)</sup> | &nbsp;&nbsp; 156000 | 1239559 |
| USI Corp. | &nbsp;&nbsp; 2079258 | 1003830 |
| Vanguard International Semiconductor Corp. | &nbsp;&nbsp; 983000 | 3503875 |
| Via Technologies Inc. | &nbsp;&nbsp; 347000 | 1300551 |
| VisEra Technologies Co. Ltd. | &nbsp;&nbsp; 255000 | 2582254 |
| Visual Photonics Epitaxy Co. Ltd. | &nbsp;&nbsp; 452000 | 2095445 |
| Voltronic Power Technology Corp. | &nbsp;&nbsp; 67788 | 3858164 |
| Wafer Works Corp. | &nbsp;&nbsp; 1260580 | 1414732 |
| Waffer Technology Corp. | &nbsp;&nbsp; 379000 | 871371 |
| Walsin Lihwa Corp. | &nbsp;&nbsp; 3241256 | 3420086 |
| Walsin Technology Corp. | &nbsp;&nbsp; 607000 | 2132427 |
| Wan Hai Lines Ltd. | &nbsp;&nbsp; 1076200 | 2567187 |
| Win Semiconductors Corp.<sup>(b)</sup> | &nbsp;&nbsp; 483953 | 2007995 |
| Winbond Electronics Corp. | &nbsp;&nbsp; 3290677 | 2346003 |
| Wisdom Marine Lines Co. Ltd. | &nbsp;&nbsp; 706000 | 1531056 |
| Wistron Corp. | &nbsp;&nbsp; 3126227 | 9406334 |
| Wistron NeWeb Corp. | &nbsp;&nbsp; 578973 | 2500147 |
| Wiwynn Corp. | &nbsp;&nbsp; 119000 | 7542694 |
| WPG Holdings Ltd. | &nbsp;&nbsp; 1783360 | 4699415 |
| WT Microelectronics Co. Ltd. | &nbsp;&nbsp; 740000 | 2355507 |
| XinTec Inc. | &nbsp;&nbsp; 468000 | 3377930 |
| Yageo Corp. | &nbsp;&nbsp; 394766 | 9626653 |
| Yang Ming Marine Transport Corp. | &nbsp;&nbsp; 2117000 | 4102442 |
| YFY Inc. | &nbsp;&nbsp; 2046000 | 1861349 |
| Yuanta Financial Holding Co. Ltd. | &nbsp;&nbsp; 11871875 | 11910801 |
| Yulon Finance Corp. | &nbsp;&nbsp; 389000 | 1838554 |
| Yulon Motor Co. Ltd. | &nbsp;&nbsp; 976274 | 1823797 |
| Zhen Ding Technology Holding Ltd. | &nbsp;&nbsp; 638050 | 2690934 |
|  |  | 2072921654 |
| **Thailand — 0.5%** | **Thailand — 0.5%** | **Thailand — 0.5%** |
| Advanced Info Service PCL, NVDR | &nbsp;&nbsp; 1519900 | 9989446 |
| Airports of Thailand PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 6072300 | 9635658 |
| Amata Corp. PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 4117300 | 2730392 |
| B Grimm Power PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 2386400 | 1449811 |
| Bangchak Corp. PCL, NVDR | &nbsp;&nbsp; 2896700 | 2561975 |
| Bangkok Chain Hospital PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 3646800 | 1759713 |
| Bangkok Dusit Medical Services PCL, NVDR | &nbsp;&nbsp; 13210400 | 9738411 |
| Bangkok Expressway & Metro PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 12257900 | 2686063 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Thailand (continued)** | **Thailand (continued)** | **Thailand (continued)** |
| Banpu PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 14648900 | $2043338 |
| Betagro PCL, NVS | &nbsp;&nbsp; 538300 | 356977 |
| BTS Group Holdings PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 14436500 | 1745335 |
| Bumrungrad Hospital PCL, NVDR | &nbsp;&nbsp; 725500 | 5009181 |
| Central Pattana PCL, NVDR | &nbsp;&nbsp; 2815900 | 4371618 |
| Central Retail Corp. PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 2414674 | 2154790 |
| CH Karnchang PCL, NVDR | &nbsp;&nbsp; 2273100 | 1236957 |
| Charoen Pokphand Foods PCL, NVDR<sup>(b)</sup> | &nbsp;&nbsp; 4525600 | 3049683 |
| CK Power PCL, NVDR | &nbsp;&nbsp; 6916300 | 753815 |
| CP ALL PCL, NVDR | &nbsp;&nbsp; 7390000 | 12091204 |
| CP Axtra PCL, NVDR | &nbsp;&nbsp; 2537600 | 2174510 |
| Delta Electronics Thailand PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 3797700 | 10936604 |
| Electricity Generating PCL, NVDR | &nbsp;&nbsp; 657400 | 1810317 |
| Energy Absolute PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 2322600 | 235571 |
| Global Power Synergy PCL, NVDR | &nbsp;&nbsp; 1791700 | 2005984 |
| Gulf Energy Development PCL, NVDR | &nbsp;&nbsp; 4165500 | 5591878 |
| Hana Microelectronics PCL, NVDR | &nbsp;&nbsp; 1046300 | 1372111 |
| Home Product Center PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 8079700 | 2066391 |
| Indorama Ventures PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 2845400 | 1544365 |
| Intouch Holdings PCL, NVDR | &nbsp;&nbsp; 2002700 | 4627496 |
| IRPC PCL, NVDR | &nbsp;&nbsp; 22107700 | 912321 |
| Jasmine International PCL, NVDR | &nbsp;&nbsp; 15357500 | 1198421 |
| KCE Electronics PCL, NVDR | &nbsp;&nbsp; 1403500 | 1762910 |
| Kiatnakin Phatra Bank PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 1250200 | 1350193 |
| Krung Thai Bank PCL, NVDR | &nbsp;&nbsp; 5418700 | 2751560 |
| Land & Houses PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 15583700 | 2515280 |
| MBK PCL, NVDR | &nbsp;&nbsp; 2250700 | 1031101 |
| Minor International PCL, NVDR | &nbsp;&nbsp; 4025500 | 3280188 |
| Muangthai Capital PCL, NVDR | &nbsp;&nbsp; 1761400 | 1997646 |
| Osotspa PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 2133400 | 1445897 |
| PTT Exploration & Production PCL, NVDR | &nbsp;&nbsp; 1850861 | 7610106 |
| PTT Global Chemical PCL, NVDR | &nbsp;&nbsp; 2912300 | 2230859 |
| PTT PCL, NVDR | &nbsp;&nbsp; 12452200 | 11176209 |
| SCB X PCL, NVDR | &nbsp;&nbsp; 859100 | 2483381 |
| Siam Cement PCL (The), NVDR | &nbsp;&nbsp; 942400 | 5849719 |
| Sino-Thai Engineering & Construction <br> PCL, NVDR<sup>(a)</sup><br>| &nbsp;&nbsp; 2229600 | 595161 |
| Sri Trang Agro-Industry PCL, NVDR | &nbsp;&nbsp; 4143900 | 2305605 |
| Srisawad Corp. PCL, NVDR | &nbsp;&nbsp; 2332781 | 2134999 |
| Thai Oil PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 2317500 | 3281663 |
| Thai Union Group PCL, NVDR | &nbsp;&nbsp; 4205800 | 1713156 |
| Thanachart Capital PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 1090200 | 1437462 |
| TPI Polene PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 20301500 | 649284 |
| True Corp. PCL, NVDR<sup>(a)(b)</sup> | &nbsp;&nbsp; 12529785 | 3262909 |
| TTW PCL, NVDR | &nbsp;&nbsp; 9036100 | 2243498 |
| WHA Corp. PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 19835600 | 2924378 |
|  |  | 173873500 |
| **Turkey — 0.3%** | **Turkey — 0.3%** | **Turkey — 0.3%** |
| Akbank TAS | &nbsp;&nbsp; 3825418 | 7150044 |
| Alarko Holding A/S | &nbsp;&nbsp; 498076 | 1576145 |
| Anadolu Efes Biracilik Ve Malt Sanayii A/S | &nbsp;&nbsp; 354132 | 2856547 |
| Aselsan Elektronik Sanayi Ve Ticaret A/S | &nbsp;&nbsp; 2303621 | 4350541 |
| BIM Birlesik Magazalar A/S | &nbsp;&nbsp; 587072 | 11088119 |
| Coca-Cola Icecek A/S | &nbsp;&nbsp; 105182 | 2686897 |
| Dogan Sirketler Grubu Holding AS | &nbsp;&nbsp; 3223140 | 1633091 |
| Emlak Konut Gayrimenkul Yatirim Ortakligi AS<sup>(b)</sup> | &nbsp;&nbsp; 5596773 | 1957982 |
| Eregli Demir ve Celik Fabrikalari TAS | &nbsp;&nbsp; 2332257 | 3947219 |
| Ford Otomotiv Sanayi AS | &nbsp;&nbsp; 125243 | 3759058 |
| Haci Omer Sabanci Holding AS | &nbsp;&nbsp; 1790876 | 5372452 |
| Hektas Ticaret TAS<sup>(b)</sup> | &nbsp;&nbsp; 2549082 | 931802 |
| Kardemir Karabuk Demir Celik Sanayi ve Ticaret <br> A/S, Class D<sup>(b)</sup><br>| &nbsp;&nbsp; 2088721 | 1907223 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Turkey (continued)** | **Turkey (continued)** | **Turkey (continued)** |
| KOC Holding AS | &nbsp;&nbsp; 998148 | $6482978 |
| Kontrolmatik Enerji Ve Muhendislik AS, NVS<sup>(a)</sup> | &nbsp;&nbsp; 367942 | 716047 |
| Koza Altin Isletmeleri AS | &nbsp;&nbsp; 1504886 | 1053310 |
| Koza Anadolu Metal Madencilik Isletmeleri AS<sup>(b)</sup> | &nbsp;&nbsp; 498585 | 917597 |
| Migros Ticaret AS | &nbsp;&nbsp; 224582 | 3578426 |
| ODAS Elektrik Uretim ve Sanayi Ticaret AS<sup>(b)</sup> | &nbsp;&nbsp; 3141072 | 766910 |
| Oyak Cimento Fabrikalari AS<sup>(a)(b)</sup> | &nbsp;&nbsp; 364188 | 871493 |
| Pegasus Hava Tasimaciligi AS<sup>(b)</sup> | &nbsp;&nbsp; 497231 | 3363143 |
| Petkim Petrokimya Holding AS<sup>(b)</sup> | &nbsp;&nbsp; 2457682 | 1791439 |
| Sasa Polyester Sanayi AS<sup>(b)</sup> | &nbsp;&nbsp; 1941768 | 2726399 |
| Sok Marketler Ticaret AS | &nbsp;&nbsp; 814057 | 1470348 |
| TAV Havalimanlari Holding AS<sup>(b)</sup> | &nbsp;&nbsp; 469442 | 3667765 |
| Tekfen Holding AS<sup>(b)</sup> | &nbsp;&nbsp; 353909 | 617139 |
| Tofas Turk Otomobil Fabrikasi AS | &nbsp;&nbsp; 243822 | 2061437 |
| Turk Hava Yollari AO<sup>(b)</sup> | &nbsp;&nbsp; 687322 | 6003061 |
| Turkcell Iletisim Hizmetleri AS | &nbsp;&nbsp; 1404531 | 4478519 |
| Turkiye Is Bankasi AS, Class C | &nbsp;&nbsp; 11447888 | 5185084 |
| Turkiye Petrol Rafinerileri AS | &nbsp;&nbsp; 1142985 | 5635934 |
| Turkiye Sise ve Cam Fabrikalari AS | &nbsp;&nbsp; 2177577 | 3093001 |
| Ulker Biskuvi Sanayi AS<sup>(b)</sup> | &nbsp;&nbsp; 466617 | 2362832 |
| Yapi ve Kredi Bankasi A/S | &nbsp;&nbsp; 3902980 | 3559118 |
|  |  | 109619100 |
| **United Arab Emirates — 0.3%** | **United Arab Emirates — 0.3%** | **United Arab Emirates — 0.3%** |
| Abu Dhabi Commercial Bank PJSC | &nbsp;&nbsp; 3885776 | 9414858 |
| Abu Dhabi Islamic Bank PJSC | &nbsp;&nbsp; 2183365 | 7287890 |
| Abu Dhabi National Oil Co. for Distribution PJSC | &nbsp;&nbsp; 4127754 | 4010423 |
| Agility Global PLC | &nbsp;&nbsp; 3769789 | 1190584 |
| Air Arabia PJSC | &nbsp;&nbsp; 2643205 | 1893713 |
| Ajman Bank PJSC<sup>(b)</sup> | &nbsp;&nbsp; 1994266 | 1015336 |
| Aldar Properties PJSC | &nbsp;&nbsp; 5629136 | 11325859 |
| Americana Restaurants International PLC | &nbsp;&nbsp; 2802666 | 2359570 |
| Aramex PJSC<sup>(b)</sup> | &nbsp;&nbsp; 1013810 | 687291 |
| Dubai Financial Market PJSC | &nbsp;&nbsp; 1931895 | 673253 |
| Dubai Investments PJSC | &nbsp;&nbsp; 3308123 | 1837371 |
| Dubai Islamic Bank PJSC | &nbsp;&nbsp; 3707919 | 5905696 |
| Emaar Properties PJSC | &nbsp;&nbsp; 8396840 | 19729299 |
| Emirates Central Cooling Systems Corp. | &nbsp;&nbsp; 3562578 | 1600418 |
| Emirates NBD Bank PJSC | &nbsp;&nbsp; 2410430 | 12534669 |
| Emirates Telecommunications Group Co. PJSC | &nbsp;&nbsp; 4319797 | 19264699 |
| First Abu Dhabi Bank PJSC | &nbsp;&nbsp; 5511763 | 19568300 |
| Gulf Navigation Holding PJSC<sup>(b)</sup> | &nbsp;&nbsp; 638288 | 1040947 |
| Multiply Group PJSC<sup>(b)</sup> | &nbsp;&nbsp; 5402513 | 3383052 |
| National Central Cooling Co. PJSC | &nbsp;&nbsp; 337064 | 280814 |
| Phoenix Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 1649005 | 772210 |
| Taaleem Holdings PJSC, NVS | &nbsp;&nbsp; 542910 | 552821 |
|  |  | 126329073 |
| **United Kingdom — 9.6%** | **United Kingdom — 9.6%** | **United Kingdom — 9.6%** |
| 3i Group PLC | &nbsp;&nbsp; 1194432 | 48052849 |
| 4imprint Group PLC | &nbsp;&nbsp; 35095 | 2740378 |
| abrdn PLC | &nbsp;&nbsp; 1927394 | 4215186 |
| Admiral Group PLC | &nbsp;&nbsp; 313179 | 11098939 |
| AG Barr PLC | &nbsp;&nbsp; 190437 | 1577699 |
| Airtel Africa PLC<sup>(c)</sup> | &nbsp;&nbsp; 1553859 | 2278162 |
| AJ Bell PLC | &nbsp;&nbsp; 474378 | 2799151 |
| Anglo American PLC | &nbsp;&nbsp; 1548318 | 46939302 |
| Antofagasta PLC | &nbsp;&nbsp; 498382 | 12977464 |
| Ascential PLC | &nbsp;&nbsp; 443222 | 3253468 |
| Ashmore Group PLC | &nbsp;&nbsp; 588588 | 1306146 |
| Ashtead Group PLC | &nbsp;&nbsp; 535499 | 38645571 |
| ASOS PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 87751 | 408366 |
| Associated British Foods PLC | &nbsp;&nbsp; 416900 | 13309640 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Assura PLC | &nbsp;&nbsp; 3540952 | $1858242 |
| Aston Martin Lagonda Global Holdings PLC<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 569573 | 1141871 |
| AstraZeneca PLC | &nbsp;&nbsp; 1883158 | 299178769 |
| Auto Trader Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 1121167 | 11744068 |
| Aviva PLC | &nbsp;&nbsp; 3038834 | 19575795 |
| B&M European Value Retail SA | &nbsp;&nbsp; 1159547 | 6982763 |
| Babcock International Group PLC | &nbsp;&nbsp; 368836 | 2522976 |
| BAE Systems PLC | &nbsp;&nbsp; 3674132 | 61277558 |
| Balfour Beatty PLC | &nbsp;&nbsp; 818026 | 4429396 |
| Bank of Georgia Group PLC | &nbsp;&nbsp; 50823 | 2987844 |
| Barclays PLC | &nbsp;&nbsp; 18245238 | 54558839 |
| Barratt Developments PLC | &nbsp;&nbsp; 1231214 | 8331491 |
| Beazley PLC | &nbsp;&nbsp; 792138 | 6962500 |
| Bellway PLC | &nbsp;&nbsp; 149398 | 5485581 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 137420 | 8971105 |
| Big Yellow Group PLC | &nbsp;&nbsp; 232402 | 3614178 |
| Bodycote PLC | &nbsp;&nbsp; 271483 | 2428325 |
| boohoo Group PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 1381163 | 573504 |
| BP PLC | &nbsp;&nbsp; 20359519 | 120347369 |
| Breedon Group PLC | &nbsp;&nbsp; 415400 | 2310768 |
| British American Tobacco PLC | &nbsp;&nbsp; 2445996 | 86786457 |
| British Land Co. PLC (The) | &nbsp;&nbsp; 1039115 | 5507619 |
| Britvic PLC | &nbsp;&nbsp; 304809 | 4977634 |
| BT Group PLC | &nbsp;&nbsp; 7908652 | 14342351 |
| Bunzl PLC | &nbsp;&nbsp; 399796 | 16751194 |
| Burberry Group PLC | &nbsp;&nbsp; 469433 | 4698000 |
| Burford Capital Ltd. | &nbsp;&nbsp; 252854 | 3565870 |
| Bytes Technology Group PLC | &nbsp;&nbsp; 265241 | 1728092 |
| C&C Group PLC | &nbsp;&nbsp; 710987 | 1462415 |
| Carnival PLC<sup>(b)</sup> | &nbsp;&nbsp; 169799 | 2608892 |
| Centamin PLC | &nbsp;&nbsp; 1938733 | 3166501 |
| Centrica PLC | &nbsp;&nbsp; 6648525 | 11335562 |
| Close Brothers Group PLC | &nbsp;&nbsp; 174477 | 1147915 |
| Coats Group PLC | &nbsp;&nbsp; 2163081 | 2488771 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 253425 | 9247456 |
| Compass Group PLC | &nbsp;&nbsp; 2097294 | 64586184 |
| Computacenter PLC | &nbsp;&nbsp; 100118 | 3466691 |
| ConvaTec Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 1775306 | 5348957 |
| Craneware PLC | &nbsp;&nbsp; 48320 | 1428709 |
| Cranswick PLC | &nbsp;&nbsp; 57835 | 3542768 |
| Crest Nicholson Holdings PLC | &nbsp;&nbsp; 507959 | 1731589 |
| Croda International PLC | &nbsp;&nbsp; 170505 | 8865264 |
| Currys PLC<sup>(b)</sup> | &nbsp;&nbsp; 1408222 | 1472712 |
| CVS Group PLC | &nbsp;&nbsp; 130910 | 1918522 |
| Darktrace PLC<sup>(b)</sup> | &nbsp;&nbsp; 503740 | 3831013 |
| DCC PLC | &nbsp;&nbsp; 118880 | 8190232 |
| Deliveroo PLC, Class A<sup>(b)(c)</sup> | &nbsp;&nbsp; 1277949 | 2166943 |
| Derwent London PLC | &nbsp;&nbsp; 121965 | 3603083 |
| Diageo PLC | &nbsp;&nbsp; 2678158 | 83330801 |
| Diploma PLC | &nbsp;&nbsp; 166287 | 9507495 |
| Direct Line Insurance Group PLC | &nbsp;&nbsp; 1540298 | 3736829 |
| Diversified Energy Co. PLC | &nbsp;&nbsp; 78898 | 1303450 |
| Domino's Pizza Group PLC | &nbsp;&nbsp; 592527 | 2463805 |
| Dowlais Group PLC | &nbsp;&nbsp; 1691781 | 1393706 |
| Dr. Martens PLC | &nbsp;&nbsp; 802284 | 733505 |
| Drax Group PLC | &nbsp;&nbsp; 505263 | 4226333 |
| DS Smith PLC | &nbsp;&nbsp; 1646701 | 9626697 |
| Dunelm Group PLC | &nbsp;&nbsp; 180830 | 2868144 |
| easyJet PLC | &nbsp;&nbsp; 450221 | 2608243 |
| Elementis PLC | &nbsp;&nbsp; 1104788 | 2269576 |
| Endeavour Mining PLC | &nbsp;&nbsp; 186937 | 4175709 |
| Energean PLC | &nbsp;&nbsp; 237410 | 3048973 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Entain PLC | &nbsp;&nbsp; 751902 | $5525440 |
| Essentra PLC | &nbsp;&nbsp; 421146 | 925801 |
| Evoke PLC<sup>(b)</sup> | &nbsp;&nbsp; 797884 | 605688 |
| Experian PLC | &nbsp;&nbsp; 1109915 | 52365800 |
| FD Technologies PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 33929 | 665602 |
| Fevertree Drinks PLC | &nbsp;&nbsp; 168069 | 1993164 |
| Firstgroup PLC | &nbsp;&nbsp; 1469549 | 3313620 |
| Flutter Entertainment PLC<sup>(b)</sup> | &nbsp;&nbsp; 215958 | 42717734 |
| Frasers Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 297357 | 3432036 |
| Future PLC | &nbsp;&nbsp; 161624 | 2326155 |
| Games Workshop Group PLC | &nbsp;&nbsp; 43709 | 5797299 |
| Gamma Communications PLC | &nbsp;&nbsp; 132810 | 2537106 |
| GB Group PLC | &nbsp;&nbsp; 333907 | 1494663 |
| Genuit Group PLC | &nbsp;&nbsp; 416484 | 2736880 |
| Genus PLC | &nbsp;&nbsp; 86982 | 2038390 |
| Glencore PLC | &nbsp;&nbsp; 12514388 | 69440304 |
| Grafton Group PLC | &nbsp;&nbsp; 298032 | 4151969 |
| Grainger PLC | &nbsp;&nbsp; 907770 | 2819611 |
| Great Portland Estates PLC | &nbsp;&nbsp; 528489 | 2384748 |
| Greatland Gold PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 7563798 | 689406 |
| Greencore Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 821600 | 1903287 |
| Greggs PLC | &nbsp;&nbsp; 120440 | 4850309 |
| GSK PLC | &nbsp;&nbsp; 5027970 | 97637054 |
| Haleon PLC | &nbsp;&nbsp; 8316115 | 37301118 |
| Halfords Group PLC | &nbsp;&nbsp; 456100 | 906481 |
| Halma PLC | &nbsp;&nbsp; 467700 | 16008701 |
| Hammerson PLC | &nbsp;&nbsp; 5761932 | 2134770 |
| Harbour Energy PLC | &nbsp;&nbsp; 668575 | 2689067 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 408220 | 5799207 |
| Hays PLC | &nbsp;&nbsp; 2110459 | 2557725 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 189403 | 4630876 |
| Hill & Smith PLC | &nbsp;&nbsp; 118351 | 3498455 |
| Hiscox Ltd. | &nbsp;&nbsp; 384794 | 6283974 |
| Hochschild Mining PLC<sup>(b)</sup> | &nbsp;&nbsp; 575737 | 1343638 |
| Howden Joinery Group PLC | &nbsp;&nbsp; 738682 | 8930805 |
| HSBC Holdings PLC | &nbsp;&nbsp; 22976650 | 208952035 |
| Hunting PLC | &nbsp;&nbsp; 280382 | 1646538 |
| Ibstock PLC<sup>(c)</sup> | &nbsp;&nbsp; 688798 | 1625750 |
| IG Group Holdings PLC | &nbsp;&nbsp; 450322 | 5438405 |
| IMI PLC | &nbsp;&nbsp; 310065 | 7552227 |
| Imperial Brands PLC | &nbsp;&nbsp; 1069909 | 29488660 |
| Inchcape PLC | &nbsp;&nbsp; 473139 | 5145596 |
| Indivior PLC, NVS<sup>(b)</sup> | &nbsp;&nbsp; 176540 | 2424984 |
| Informa PLC | &nbsp;&nbsp; 1790122 | 20004928 |
| IntegraFin Holdings PLC | &nbsp;&nbsp; 414892 | 2053453 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 205701 | 20723474 |
| Intermediate Capital Group PLC | &nbsp;&nbsp; 361391 | 10200887 |
| International Distributions Services PLC<sup>(b)</sup> | &nbsp;&nbsp; 806499 | 3578359 |
| International Workplace Group PLC | &nbsp;&nbsp; 970262 | 2154272 |
| Intertek Group PLC | &nbsp;&nbsp; 193519 | 12566727 |
| Investec PLC | &nbsp;&nbsp; 793701 | 6284548 |
| IP Group PLC | &nbsp;&nbsp; 1932758 | 1036102 |
| ITM Power PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 839118 | 564091 |
| ITV PLC | &nbsp;&nbsp; 4282840 | 4406170 |
| J D Wetherspoon PLC<sup>(b)</sup> | &nbsp;&nbsp; 134447 | 1290239 |
| J Sainsbury PLC | &nbsp;&nbsp; 1843546 | 6537577 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 3387071 | 5730398 |
| JET2 PLC | &nbsp;&nbsp; 205709 | 3776359 |
| John Wood Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 855664 | 2243998 |
| Johnson Matthey PLC | &nbsp;&nbsp; 219437 | 4623575 |
| JTC PLC<sup>(c)</sup> | &nbsp;&nbsp; 221777 | 2997813 |
| Jupiter Fund Management PLC | &nbsp;&nbsp; 648652 | 733464 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Just Group PLC | &nbsp;&nbsp; 1673046 | $2596470 |
| Kainos Group PLC | &nbsp;&nbsp; 160958 | 2271977 |
| Keller Group PLC | &nbsp;&nbsp; 127405 | 2440404 |
| Keywords Studios PLC | &nbsp;&nbsp; 92616 | 2843213 |
| Kingfisher PLC | &nbsp;&nbsp; 2474710 | 8797913 |
| Lancashire Holdings Ltd. | &nbsp;&nbsp; 338005 | 2754872 |
| Land Securities Group PLC | &nbsp;&nbsp; 803841 | 6573336 |
| Learning Technologies Group PLC | &nbsp;&nbsp; 1006143 | 931282 |
| Legal & General Group PLC | &nbsp;&nbsp; 7002602 | 20886141 |
| Liontrust Asset Management PLC | &nbsp;&nbsp; 142919 | 1225719 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 76059698 | 58105793 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 545944 | 66455396 |
| LondonMetric Property PLC | &nbsp;&nbsp; 2439626 | 6307594 |
| M&G PLC | &nbsp;&nbsp; 2982012 | 8142816 |
| Man Group PLC/Jersey | &nbsp;&nbsp; 1643060 | 5172820 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 2317985 | 9790127 |
| Marshalls PLC | &nbsp;&nbsp; 360683 | 1613593 |
| Melrose Industries PLC | &nbsp;&nbsp; 1691781 | 12810689 |
| Mitchells & Butlers PLC<sup>(b)</sup> | &nbsp;&nbsp; 478134 | 1915371 |
| Mitie Group PLC | &nbsp;&nbsp; 2265359 | 3529626 |
| Mobico Group PLC | &nbsp;&nbsp; 674635 | 488734 |
| Mondi PLC, NVS | &nbsp;&nbsp; 500545 | 9786485 |
| MONY Group PLC | &nbsp;&nbsp; 734775 | 2243008 |
| Morgan Advanced Materials PLC | &nbsp;&nbsp; 494197 | 2165353 |
| National Grid PLC | &nbsp;&nbsp; 5806425 | 73672940 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 7974909 | 37836828 |
| NCC Group PLC | &nbsp;&nbsp; 520138 | 986799 |
| Network International Holdings PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 621371 | 3131310 |
| Next PLC | &nbsp;&nbsp; 154408 | 18047161 |
| Ninety One PLC | &nbsp;&nbsp; 600343 | 1336991 |
| NMC Health PLC, NVS<sup>(d)</sup> | &nbsp;&nbsp; 74553 | 1 |
| Ocado Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 672076 | 3514408 |
| OSB Group PLC | &nbsp;&nbsp; 591468 | 3913443 |
| Oxford Instruments PLC | &nbsp;&nbsp; 66359 | 2141227 |
| Oxford Nanopore Technologies PLC<sup>(b)</sup> | &nbsp;&nbsp; 682933 | 1060557 |
| Pagegroup PLC | &nbsp;&nbsp; 432925 | 2385079 |
| Paragon Banking Group PLC | &nbsp;&nbsp; 406095 | 4196298 |
| Pearson PLC | &nbsp;&nbsp; 842573 | 11432007 |
| Penno Group PLC | &nbsp;&nbsp; 314890 | 2517503 |
| Persimmon PLC | &nbsp;&nbsp; 389669 | 7946237 |
| Pets at Home Group PLC | &nbsp;&nbsp; 636745 | 2511366 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 784198 | 5523178 |
| Playtech PLC<sup>(b)</sup> | &nbsp;&nbsp; 360021 | 2614962 |
| Plus500 Ltd. | &nbsp;&nbsp; 152344 | 4594544 |
| Premier Foods PLC | &nbsp;&nbsp; 1226645 | 2838445 |
| Primary Health Properties PLC | &nbsp;&nbsp; 1689755 | 2012784 |
| Prudential PLC | &nbsp;&nbsp; 3321465 | 29974185 |
| QinetiQ Group PLC | &nbsp;&nbsp; 742673 | 4613754 |
| Quilter PLC<sup>(c)</sup> | &nbsp;&nbsp; 1760550 | 3025999 |
| Rathbones Group PLC | &nbsp;&nbsp; 79733 | 1973888 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 859645 | 46243441 |
| Redrow PLC | &nbsp;&nbsp; 375152 | 3599026 |
| RELX PLC | &nbsp;&nbsp; 2281613 | 107686395 |
| Renishaw PLC | &nbsp;&nbsp; 49233 | 2396842 |
| Rentokil Initial PLC | &nbsp;&nbsp; 3063956 | 18708992 |
| RHI Magnesita NV | &nbsp;&nbsp; 57515 | 2714400 |
| Rightmove PLC | &nbsp;&nbsp; 1039120 | 7720507 |
| Rio Tinto PLC | &nbsp;&nbsp; 1354695 | 88099739 |
| Rolls-Royce Holdings PLC<sup>(b)</sup> | &nbsp;&nbsp; 10264753 | 59434994 |
| Rotork PLC | &nbsp;&nbsp; 975175 | 4538536 |
| RS Group PLC | &nbsp;&nbsp; 577740 | 6069627 |
| RWS Holdings PLC | &nbsp;&nbsp; 493890 | 1210913 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Safestore Holdings PLC | &nbsp;&nbsp; 281234 | $2922413 |
| Sage Group PLC (The) | &nbsp;&nbsp; 1212478 | 16948690 |
| Savills PLC | &nbsp;&nbsp; 214535 | 3519151 |
| Schroders PLC | &nbsp;&nbsp; 799554 | 4040525 |
| Segro PLC | &nbsp;&nbsp; 1510220 | 17776207 |
| Serco Group PLC | &nbsp;&nbsp; 1428318 | 3509727 |
| Severn Trent PLC | &nbsp;&nbsp; 309780 | 10241222 |
| Shaftesbury Capital PLC | &nbsp;&nbsp; 1935629 | 3789755 |
| Shell PLC | &nbsp;&nbsp; 7816927 | 285035492 |
| Sirius Real Estate Ltd. | &nbsp;&nbsp; 2189329 | 2669009 |
| Smith & Nephew PLC | &nbsp;&nbsp; 1034463 | 14909531 |
| Smiths Group PLC | &nbsp;&nbsp; 468789 | 10767688 |
| Softcat PLC | &nbsp;&nbsp; 152649 | 3193557 |
| Spectris PLC | &nbsp;&nbsp; 134297 | 5268102 |
| Spirax Group PLC | &nbsp;&nbsp; 93711 | 10940479 |
| Spire Healthcare Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 705110 | 2321660 |
| Spirent Communications PLC | &nbsp;&nbsp; 843196 | 1883385 |
| SSE PLC | &nbsp;&nbsp; 1282413 | 31036702 |
| SSP Group PLC | &nbsp;&nbsp; 904343 | 2126756 |
| St. James's Place PLC | &nbsp;&nbsp; 622372 | 5482330 |
| Standard Chartered PLC | &nbsp;&nbsp; 2760501 | 27269017 |
| Supermarket Income REIT PLC | &nbsp;&nbsp; 1049290 | 1010614 |
| Tate & Lyle PLC | &nbsp;&nbsp; 480429 | 4060823 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 4422367 | 9066626 |
| TBC Bank Group PLC | &nbsp;&nbsp; 51932 | 2069597 |
| Team17 Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 158000 | 589039 |
| Telecom Plus PLC | &nbsp;&nbsp; 103434 | 2527678 |
| Tesco PLC | &nbsp;&nbsp; 8414988 | 35885462 |
| THG PLC, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 1132131 | 968918 |
| TP ICAP Group PLC | &nbsp;&nbsp; 927803 | 2641913 |
| Trainline PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 603376 | 2641933 |
| Travis Perkins PLC | &nbsp;&nbsp; 199490 | 2451320 |
| Tritax Big Box REIT PLC | &nbsp;&nbsp; 1958184 | 4162262 |
| Trustpilot Group PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 545109 | 1461095 |
| Unilever PLC | &nbsp;&nbsp; 3026262 | 185977947 |
| UNITE Group PLC (The) | &nbsp;&nbsp; 404954 | 4963617 |
| United Utilities Group PLC | &nbsp;&nbsp; 783379 | 10410815 |
| Vesuvius PLC | &nbsp;&nbsp; 346909 | 2152199 |
| Victrex PLC | &nbsp;&nbsp; 107591 | 1521450 |
| Virgin Money U.K. PLC | &nbsp;&nbsp; 1555086 | 4300479 |
| Vistry Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 476151 | 8480886 |
| Vodafone Group PLC | &nbsp;&nbsp; 27317849 | 25562663 |
| Watches of Switzerland Group PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 406137 | 2129855 |
| Weir Group PLC (The) | &nbsp;&nbsp; 313394 | 8181088 |
| WH Smith PLC | &nbsp;&nbsp; 150990 | 2569087 |
| Whitbread PLC | &nbsp;&nbsp; 235919 | 8839877 |
| Wickes Group PLC | &nbsp;&nbsp; 327524 | 635783 |
| Wise PLC, Class A<sup>(b)</sup> | &nbsp;&nbsp; 748199 | 6889107 |
| Workspace Group PLC | &nbsp;&nbsp; 264779 | 2087456 |
| WPP PLC | &nbsp;&nbsp; 1341626 | 12941429 |
| Yellow Cake PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 336100 | 2405316 |
| YouGov PLC | &nbsp;&nbsp; 120371 | 714913 |
| Zigup PLC | &nbsp;&nbsp; 539799 | 2946619 |
|  |  | 3655336739 |
| **Total Common Stocks — 99.0%** <br>**(Cost: $30,673,789,029)** | **Total Common Stocks — 99.0%** <br>**(Cost: $30,673,789,029)** | 37499093343 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Brazil — 0.3%** | **Brazil — 0.3%** | **Brazil — 0.3%** |
| Alpargatas SA, Preference Shares, NVS | &nbsp;&nbsp; 313910 | 477290 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Brazil (continued)** | **Brazil (continued)** | **Brazil (continued)** |
| Azul SA, Preference Shares, NVS | &nbsp;&nbsp; 450851 | $637679 |
| Banco Bradesco SA, Preference Shares, NVS | &nbsp;&nbsp; 6621988 | 14552533 |
| Banco do Estado do Rio Grande do Sul SA, <br> Class B, Preference Shares, NVS<br>| &nbsp;&nbsp; 208297 | 421297 |
| Bradespar SA, Preference Shares, NVS | &nbsp;&nbsp; 478232 | 1565881 |
| Centrais Eletricas Brasileiras SA, Class B, <br> Preference Shares, NVS<br>| &nbsp;&nbsp; 346173 | 2669060 |
| Cia. Energetica de Minas Gerais, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 1960293 | 3763829 |
| Cia. Paranaense de Energia - Copel, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 831135 | 1482661 |
| Gerdau SA, Preference Shares, NVS | &nbsp;&nbsp; 1697431 | 5479892 |
| Itau Unibanco Holding SA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 5813961 | 34825279 |
| Itausa SA, Preference Shares, NVS | &nbsp;&nbsp; 6646240 | 11950224 |
| Marcopolo SA, Preference Shares, NVS | &nbsp;&nbsp; 1955637 | 2098727 |
| Metalurgica Gerdau SA, Preference Shares, NVS | &nbsp;&nbsp; 1426655 | 2681213 |
| Petroleo Brasileiro SA, Preference Shares, NVS | &nbsp;&nbsp; 5717834 | 37817981 |
| Randon SA Implementos e Participacoes, <br> Preference Shares, NVS<br>| &nbsp;&nbsp; 481405 | 908994 |
| Unipar Carbocloro SA, Class B, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 88846 | 818221 |
|  |  | 122150761 |
| **Chile — 0.0%** | **Chile — 0.0%** | **Chile — 0.0%** |
| Embotelladora Andina SA, Class B, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 658656 | 2104902 |
| Sociedad Quimica y Minera de Chile SA, Class B, <br> Preference Shares<br>| &nbsp;&nbsp; 190556 | 7224690 |
|  |  | 9329592 |
| **Colombia — 0.0%** | **Colombia — 0.0%** | **Colombia — 0.0%** |
| Bancolombia SA, Preference Shares, NVS | &nbsp;&nbsp; 582094 | 4871134 |
| **Germany — 0.3%** | **Germany — 0.3%** | **Germany — 0.3%** |
| Bayerische Motoren Werke AG, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 71203 | 6104345 |
| Dr Ing hc F Porsche AG, Preference <br> Shares, NVS<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 136185 | 10254826 |
| Draegerwerk AG & Co. KGaA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 12147 | 638803 |
| Fuchs Petrolub SE, Preference Shares, NVS | &nbsp;&nbsp; 90076 | 3913904 |
| Henkel AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 209730 | 17940674 |
| Jungheinrich AG, Preference Shares, NVS | &nbsp;&nbsp; 70226 | 2222995 |
| Porsche Automobil Holding SE, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 187647 | 8387721 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 31766 | 9009532 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 246827 | 27546627 |
|  |  | 86019427 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Surgutneftegas PJSC, Preference <br> Shares, NVS<sup>(b)(d)</sup><br>| &nbsp;&nbsp; 7082700 | 833 |
| **South Korea — 0.2%** | **South Korea — 0.2%** | **South Korea — 0.2%** |
| Hyundai Motor Co. |  |  |
| Preference Shares, NVS | &nbsp;&nbsp; 26493 | 3206756 |
| Series 2, Preference Shares, NVS | &nbsp;&nbsp; 41134 | 4999342 |
| LG Chem Ltd., Preference Shares, NVS | &nbsp;&nbsp; 8461 | 1318652 |
| Samsung Electronics Co. Ltd., Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 991645 | 47209076 |
|  |  | 56733826 |
| **Total Preferred Stocks — 0.8%** <br>**(Cost: $300,091,260)** | **Total Preferred Stocks — 0.8%** <br>**(Cost: $300,091,260)** | 279105573 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Rights** | **Rights** | **Rights** |
| **Brazil — 0.0%** | **Brazil — 0.0%** | **Brazil — 0.0%** |
| Localiza Rent a Car SA, (Expires 08/20/24)<sup>(b)</sup> | &nbsp;&nbsp; 11969 | $24525 |
| **India — 0.0%** | **India — 0.0%** | **India — 0.0%** |
| Tata Consumer Products Ltd.) | &nbsp;&nbsp; 30734 | 136163 |
| **South Africa — 0.0%** | **South Africa — 0.0%** | **South Africa — 0.0%** |
| Pick n Pay Stores Ltd.)<sup>(a)</sup> | &nbsp;&nbsp; 399691 | 162181 |
| **Turkey — 0.0%** | **Turkey — 0.0%** | **Turkey — 0.0%** |
| Kontrolmatik Enerji Ve Muhendislik A/S) | &nbsp;&nbsp; 163530 | 313306 |
| **Total Rights — 0.0%** <br>**(Cost: $1,075,358)** | **Total Rights — 0.0%** <br>**(Cost: $1,075,358)** | 636175 |
| **Warrants** | **Warrants** | **Warrants** |
| **Australia — 0.0%** | **Australia — 0.0%** | **Australia — 0.0%** |
| Magellan Financial Group Ltd. (Issued/Exercisable <br> 04/14/22, 1 Share for 1 Warrant, Expires <br> 04/16/27, Strike Price AUD 35.00)<sup>(b)</sup><br>| &nbsp;&nbsp; 16323 | 1228 |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| Constellation Software Inc., (Issued 08/29/23, <br> 1 Share for 1 Warrant, Expires 03/31/40, Strike <br> Price CAD 11.50)<sup>(d)</sup><br>| &nbsp;&nbsp; 23204 |  |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** | 1228 |
| **Total Long-Term Investments — 99.8%** <br>**(Cost: $30,974,955,647)** | **Total Long-Term Investments — 99.8%** <br>**(Cost: $30,974,955,647)** | 37778836319 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.0%** | **Money Market Funds — 1.0%** | **Money Market Funds — 1.0%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(g)(h)(i)</sup><br>| &nbsp;&nbsp; 332921627 | 333054795 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(g)(h)</sup><br>| &nbsp;&nbsp; 58680000 | 58680000 |
| **Total Short-Term Securities — 1.0%** <br>**(Cost: $391,547,639)** | **Total Short-Term Securities — 1.0%** <br>**(Cost: $391,547,639)** | 391734795 |
| **Total Investments — 100.8%** <br>**(Cost: $31,366,503,286)** | **Total Investments — 100.8%** <br>**(Cost: $31,366,503,286)** | 38170571114 |
| **Liabilities in Excess of Other Assets — (0.8)%** | **Liabilities in Excess of Other Assets — (0.8)%** | (298070903)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $37872500211 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(f)</sup> Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $1,645,764, representing less than 0.05% of its net assets as of period end, and an original cost of $1,601,282. 

<sup>(g)</sup> Affiliate of the Fund.

<sup>(h)</sup> Annualized 7-day yield as of period end.

<sup>(i)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $424504480 | $—<br> $(91510445 )<sup>(a)</sup><br>| &nbsp;&nbsp; $49593 | $11167 | $333054795 | 332921627 | $6709908 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 71870000 | —<br> (13190000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 58680000 | 58680000 | 2937679 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $49593 | $11167 | $391734795 |  | $9647587 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| MSCI EAFE Index | &nbsp;&nbsp; 505 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $60340 | &nbsp;&nbsp; $704961 |
| MSCI Emerging Markets Index | &nbsp;&nbsp; 483 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 26480 | &nbsp;&nbsp; (97)<br>|
|  |  |  |  | &nbsp;&nbsp; $704864 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $704961 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $704961 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $97 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $97 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2789302 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2789302 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(3703493)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(3703493)<br>|

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Core MSCI Total International Stock ETF**

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $119627363 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $4955378080 | &nbsp;&nbsp; $32541779461 | &nbsp;&nbsp; $1935802 | &nbsp;&nbsp; $37499093343 |
| Preferred Stocks | &nbsp;&nbsp; 136351487 | &nbsp;&nbsp; 142753253 | &nbsp;&nbsp; 833 | &nbsp;&nbsp; 279105573 |
| Rights | &nbsp;&nbsp; 24525 | &nbsp;&nbsp; 611650 | &nbsp;&nbsp; — | &nbsp;&nbsp; 636175 |
| Warrants | &nbsp;&nbsp; 1228 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1228 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 391734795 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 391734795 |
|  | &nbsp;&nbsp; $5483490115 | &nbsp;&nbsp; $32685144364 | &nbsp;&nbsp; $1936635 | &nbsp;&nbsp; $38170571114 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $704961 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $704961 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; (97)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (97)<br>|
|  | &nbsp;&nbsp; $704864 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $704864 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Statements of Assets and Liabilities

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>Core MSCI EAFE <br> ETF <br>| &nbsp;&nbsp; iShares <br>Core MSCI Europe <br> ETF <br>| &nbsp;&nbsp; iShares <br>Core MSCI <br> International <br> Developed Markets <br> ETF <br>| &nbsp;&nbsp; iShares <br>Core MSCI Pacific <br> ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $119593495357 | $4604390327 | $14022806312 | $2025050949 |
| Investments, at value—affiliated<sup>(c)</sup> | 763712157 | 31406580 | 83696525 | 21623847 |
| Cash | 5745 | 8448 | 4143 | 8786 |
| Foreign currency collateral pledged for futures contracts<sup>(d)</sup> | 32206237 | 1478212 | 4006053 | 472528 |
| Foreign currency, at value<sup>(e)</sup> | 154697941 | 5805671 | 48367451 | 2683838 |
| Receivables: |  |  |  |  |
| Investments sold | 48253982 | 271292 | 4416936 | 1779133 |
| Securities lending income—affiliated | 912149 | 26967 | 78567 | 16621 |
| Dividends—unaffiliated | 90287364 | 2574196 | 11012945 | 2205469 |
| Dividends—affiliated | 41428 | 1542 | 6611 | 676 |
| Tax reclaims | 224682220 | 15567214 | 18750738 | 851348 |
| Variation margin on futures contracts | 4108579 | 172029 | 519340 | 69106 |
| Total assets | 120912403159 | 4661702478 | 14193665621 | 2054762301 |
| **LIABILITIES** |  |  |  |  |
| Collateral on securities loaned, at value | 738638568 | 30963329 | 82437101 | 21478651 |
| Payables: |  |  |  |  |
| Investments purchased | 6802692 |  |  | 561601 |
| Deferred foreign capital gain tax | 5960 |  |  |  |
| Investment advisory fees | 7054696 | 368523 | 472853 | 151690 |
| Professional fees | 351794 | 17242 | 78310 |  |
| Total liabilities | 752853710 | 31349094 | 82988264 | 22191942 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $120159549449 | $4630353384 | $14110677357 | $2032570359 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $104824168110 | $4788298795 | $12215087403 | $1928814665 |
| Accumulated earnings (loss) | 15335381339 | (157945411) | 1895589954 | 103755694 |
| NET ASSETS | $120159549449 | $4630353384 | $14110677357 | $2032570359 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 1606600000 | 79300000 | 208350000 | 31900000 |
| Net asset value | $74.79 | $58.39 | $67.73 | $63.72 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $99836984545 | $4475542521 | $11858885974 | $1824476330 |
| <sup>(b)</sup> Securities loaned, at value | $685936907 | $28593100 | $77779504 | $19282317 |
| <sup>(c)</sup> Investments, at cost—affiliated | $763353333 | $31393005 | $83657718 | $21623371 |
| <sup>(d)</sup> Foreign currency collateral pledged, at cost | $31845734 | $1536703 | $3965087 | $465143 |
| <sup>(e)</sup> Foreign currency, at cost | $152312455 | $5756884 | $47741303 | $2596379 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Assets and Liabilities (continued)

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; iShares <br>Core MSCI Total <br> International Stock <br> ETF <br>|
| **ASSETS** |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $37778836319 |
| Investments, at value—affiliated<sup>(c)</sup> | 391734795 |
| Cash | 2707040 |
| Cash pledged for futures contracts | 2870000 |
| Foreign currency, at value<sup>(d)</sup> | 67973085 |
| Receivables: |  |
| Investments sold | 10523278 |
| Securities lending income—affiliated | 403809 |
| Capital shares sold | 584 |
| Dividends—unaffiliated | 61353573 |
| Dividends—affiliated | 192353 |
| Tax reclaims | 52858251 |
| Variation margin on futures contracts | 1420184 |
| Total assets | 38370873271 |
| **LIABILITIES** |  |
| Collateral on securities loaned, at value | 332966908 |
| Payables: |  |
| Investments purchased | 38803017 |
| Deferred foreign capital gain tax | 123440127 |
| Investment advisory fees | 2226995 |
| Professional fees | 936013 |
| Total liabilities | 498373060 |
| **Commitments and contingent liabilities** |  |
| NET ASSETS | $37872500211 |
| **NET ASSETS CONSIST OF** |  |
| Paid-in capital | $32850838568 |
| Accumulated earnings | 5021661643 |
| NET ASSETS | $37872500211 |
| **NET ASSET VALUE** |  |
| Shares outstanding | 547900000 |
| Net asset value | $69.12 |
| Shares authorized | Unlimited |
| Par value |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $30974955647 |
| <sup>(b)</sup> Securities loaned, at value | $306636601 |
| <sup>(c)</sup> Investments, at cost—affiliated | $391547639 |
| <sup>(d)</sup> Foreign currency, at cost | $68179055 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Core MSCI EAFE <br> ETF <br>| &nbsp;&nbsp; iShares <br>Core MSCI <br> Europe ETF <br>| &nbsp;&nbsp; iShares <br>Core MSCI <br> International <br> Developed <br> Markets ETF <br>| &nbsp;&nbsp; iShares <br>Core MSCI <br> Pacific ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $3498448224 | &nbsp;&nbsp;&nbsp; $152508435 | &nbsp;&nbsp;&nbsp; $398054809 | &nbsp;&nbsp;&nbsp; $53653747 |
| Dividends—affiliated | &nbsp;&nbsp; 3235047 | &nbsp;&nbsp;&nbsp; 125475 | &nbsp;&nbsp;&nbsp; 398462 | &nbsp;&nbsp;&nbsp; 49439 |
| Interest—unaffiliated | &nbsp;&nbsp; 1636081 | &nbsp;&nbsp;&nbsp; 112658 | &nbsp;&nbsp;&nbsp; 217003 | &nbsp;&nbsp;&nbsp; 3793 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 13677062 | &nbsp;&nbsp;&nbsp; 413480 | &nbsp;&nbsp;&nbsp; 1246001 | &nbsp;&nbsp;&nbsp; 236843 |
| Other income—unaffiliated | &nbsp;&nbsp; 14877 | &nbsp;&nbsp;&nbsp; 50405 | &nbsp;&nbsp;&nbsp; 112921 | &nbsp;&nbsp;&nbsp; — |
| Foreign taxes withheld | &nbsp;&nbsp; (259614396)<br>| &nbsp;&nbsp;&nbsp; (12176356)<br>| &nbsp;&nbsp;&nbsp; (33226760)<br>| &nbsp;&nbsp;&nbsp; (3249316)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; 1791269 | &nbsp;&nbsp;&nbsp; 922805 | &nbsp;&nbsp;&nbsp; 1157227 | &nbsp;&nbsp;&nbsp; — |
| Total investment income | &nbsp;&nbsp; 3259188164 | &nbsp;&nbsp;&nbsp; 141956902 | &nbsp;&nbsp;&nbsp; 367959663 | &nbsp;&nbsp;&nbsp; 50694506 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 74958004 | &nbsp;&nbsp;&nbsp; 3911942 | &nbsp;&nbsp;&nbsp; 4880880 | &nbsp;&nbsp;&nbsp; 1657847 |
| Professional | &nbsp;&nbsp; 361258 | &nbsp;&nbsp;&nbsp; 115481 | &nbsp;&nbsp;&nbsp; 140963 | &nbsp;&nbsp;&nbsp; — |
| Interest expense | &nbsp;&nbsp; 422 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total expenses | &nbsp;&nbsp; 75319684 | &nbsp;&nbsp;&nbsp; 4027423 | &nbsp;&nbsp;&nbsp; 5021843 | &nbsp;&nbsp;&nbsp; 1657847 |
| Net investment income | &nbsp;&nbsp; 3183868480 | &nbsp;&nbsp;&nbsp; 137929479 | &nbsp;&nbsp;&nbsp; 362937820 | &nbsp;&nbsp;&nbsp; 49036659 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (594219344)<br>| &nbsp;&nbsp;&nbsp; (68311683)<br>| &nbsp;&nbsp;&nbsp; (12155155)<br>| &nbsp;&nbsp;&nbsp; (18071053)<br>|
| Investments—affiliated | &nbsp;&nbsp; 54450 | &nbsp;&nbsp;&nbsp; 8875 | &nbsp;&nbsp;&nbsp; 3873 | &nbsp;&nbsp;&nbsp; 880 |
| Foreign currency transactions | &nbsp;&nbsp; (24537478)<br>| &nbsp;&nbsp;&nbsp; (181227)<br>| &nbsp;&nbsp;&nbsp; (2315575)<br>| &nbsp;&nbsp;&nbsp; (763263)<br>|
| Futures contracts | &nbsp;&nbsp; 76977190 | &nbsp;&nbsp;&nbsp; 2081700 | &nbsp;&nbsp;&nbsp; 7071438 | &nbsp;&nbsp;&nbsp; 1540138 |
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 205769710 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 40347542 |
|  | &nbsp;&nbsp; (541725182)<br>| &nbsp;&nbsp;&nbsp; 139367375 | &nbsp;&nbsp;&nbsp; (7395419)<br>| &nbsp;&nbsp;&nbsp; 23054244 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; 9410140491 | &nbsp;&nbsp;&nbsp; 206660928 | &nbsp;&nbsp;&nbsp; 1021451868 | &nbsp;&nbsp;&nbsp; 134383690 |
| Investments—affiliated | &nbsp;&nbsp; (1731)<br>| &nbsp;&nbsp;&nbsp; (5704)<br>| &nbsp;&nbsp;&nbsp; 6112 | &nbsp;&nbsp;&nbsp; (410)<br>|
| Foreign currency translations | &nbsp;&nbsp; 5768210 | &nbsp;&nbsp;&nbsp; 104526 | &nbsp;&nbsp;&nbsp; 836126 | &nbsp;&nbsp;&nbsp; 113539 |
| Futures contracts | &nbsp;&nbsp; (10408434)<br>| &nbsp;&nbsp;&nbsp; (536114)<br>| &nbsp;&nbsp;&nbsp; (593782)<br>| &nbsp;&nbsp;&nbsp; (254214)<br>|
|  | &nbsp;&nbsp; 9405498536 | &nbsp;&nbsp;&nbsp; 206223636 | &nbsp;&nbsp;&nbsp; 1021700324 | &nbsp;&nbsp;&nbsp; 134242605 |
| Net realized and unrealized gain | &nbsp;&nbsp; 8863773354 | &nbsp;&nbsp;&nbsp; 345591011 | &nbsp;&nbsp;&nbsp; 1014304905 | &nbsp;&nbsp;&nbsp; 157296849 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $12047641834 | &nbsp;&nbsp;&nbsp; $483520490 | &nbsp;&nbsp;&nbsp; $1377242725 | &nbsp;&nbsp;&nbsp; $206333508 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |
| <sup>(b)</sup> Net of reduction in deferred foreign capital gain tax of | &nbsp;&nbsp; $50143 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1757 | &nbsp;&nbsp;&nbsp; $— |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Operations(continued)

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br>Core MSCI Total <br> International Stock <br> ETF <br>|
| **INVESTMENT INCOME** |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $1082050013 |
| Dividends—affiliated | &nbsp;&nbsp; 2937679 |
| Interest—unaffiliated | &nbsp;&nbsp; 527891 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 6709908 |
| Other income—unaffiliated | &nbsp;&nbsp; 660548 |
| Foreign taxes withheld | &nbsp;&nbsp; (97388404)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; 8441823 |
| Other foreign taxes | &nbsp;&nbsp; (222751)<br>|
| Total investment income | &nbsp;&nbsp; 1003716707 |
| EXPENSES |  |
| Investment advisory | &nbsp;&nbsp; 23755273 |
| Professional | &nbsp;&nbsp; 949219 |
| Interest expense | &nbsp;&nbsp; 212634 |
| Commitment costs | &nbsp;&nbsp; 38715 |
| Total expenses | &nbsp;&nbsp; 24955841 |
| Net investment income | &nbsp;&nbsp; 978760866 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| Net realized gain (loss) from: |  |
| Investments—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; (239237996)<br>|
| Investments—affiliated | &nbsp;&nbsp; 49593 |
| Foreign currency transactions | &nbsp;&nbsp; (6831896)<br>|
| Futures contracts | &nbsp;&nbsp; 2789302 |
|  | &nbsp;&nbsp; (243230997)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |
| Investments—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; 2627348831 |
| Investments—affiliated | &nbsp;&nbsp; 11167 |
| Foreign currency translations | &nbsp;&nbsp; (36420)<br>|
| Futures contracts | &nbsp;&nbsp; (3703493)<br>|
|  | &nbsp;&nbsp; 2623620085 |
| Net realized and unrealized gain | &nbsp;&nbsp; 2380389088 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $3359149954 |
| <sup>(a)</sup> Net of foreign capital gain tax and capital gain tax refund, if applicable of | &nbsp;&nbsp; $(1868044)<br>|
| <sup>(b)</sup> Net of increase in deferred foreign capital gain tax of | &nbsp;&nbsp; $(102966240)<br>|

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Core MSCI EAFE ETF  | iShares <br>Core MSCI EAFE ETF  | iShares <br>Core MSCI Europe ETF  | iShares <br>Core MSCI Europe ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $3183868480 | &nbsp;&nbsp;&nbsp; $2934336151 | &nbsp;&nbsp;&nbsp; $137929479 | &nbsp;&nbsp;&nbsp; $132228856 |
| Net realized gain (loss) | &nbsp;&nbsp; (541725182)<br>| &nbsp;&nbsp;&nbsp; (535403304)<br>| &nbsp;&nbsp;&nbsp; 139367375 | &nbsp;&nbsp;&nbsp; (44881380)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 9405498536 | &nbsp;&nbsp;&nbsp; 10854004778 | &nbsp;&nbsp;&nbsp; 206223636 | &nbsp;&nbsp;&nbsp; 544173475 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 12047641834 | &nbsp;&nbsp;&nbsp; 13252937625 | &nbsp;&nbsp;&nbsp; 483520490 | &nbsp;&nbsp;&nbsp; 631520951 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (3522125819)<br>| &nbsp;&nbsp;&nbsp; (2335829412)<br>| &nbsp;&nbsp;&nbsp; (144029877)<br>| &nbsp;&nbsp;&nbsp; (123397635)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 9630327254 | &nbsp;&nbsp;&nbsp; 2263134016 | &nbsp;&nbsp;&nbsp; (98970748)<br>| &nbsp;&nbsp;&nbsp; (45011400)<br>|
| *NET ASSETS* |  |  |  |  |
| Total increase in net assets | &nbsp;&nbsp; 18155843269 | &nbsp;&nbsp;&nbsp; 13180242229 | &nbsp;&nbsp;&nbsp; 240519865 | &nbsp;&nbsp;&nbsp; 463111916 |
| Beginning of year | &nbsp;&nbsp; 102003706180 | &nbsp;&nbsp;&nbsp; 88823463951 | &nbsp;&nbsp;&nbsp; 4389833519 | &nbsp;&nbsp;&nbsp; 3926721603 |
| End of year | &nbsp;&nbsp; $120159549449 | &nbsp;&nbsp;&nbsp; $102003706180 | &nbsp;&nbsp;&nbsp; $4630353384 | &nbsp;&nbsp;&nbsp; $4389833519 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Core MSCI International Developed Markets <br> ETF  | iShares <br>Core MSCI International Developed Markets <br> ETF  | iShares <br>Core MSCI Pacific ETF  | iShares <br>Core MSCI Pacific ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $362937820 | &nbsp;&nbsp;&nbsp; $293536299 | &nbsp;&nbsp;&nbsp; $49036659 | &nbsp;&nbsp;&nbsp; $48752006 |
| Net realized gain (loss) | &nbsp;&nbsp; (7395419)<br>| &nbsp;&nbsp;&nbsp; (21298349)<br>| &nbsp;&nbsp;&nbsp; 23054244 | &nbsp;&nbsp;&nbsp; 90745322 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 1021700324 | &nbsp;&nbsp;&nbsp; 1136036244 | &nbsp;&nbsp;&nbsp; 134242605 | &nbsp;&nbsp;&nbsp; 30947793 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 1377242725 | &nbsp;&nbsp;&nbsp; 1408274194 | &nbsp;&nbsp;&nbsp; 206333508 | &nbsp;&nbsp;&nbsp; 170445121 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (393369827)<br>| &nbsp;&nbsp;&nbsp; (243534870)<br>| &nbsp;&nbsp;&nbsp; (58321914)<br>| &nbsp;&nbsp;&nbsp; (38736051)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 1746017299 | &nbsp;&nbsp;&nbsp; 2838953351 | &nbsp;&nbsp;&nbsp; 147622497 | &nbsp;&nbsp;&nbsp; 104176179 |
| *NET ASSETS* |  |  |  |  |
| Total increase in net assets | &nbsp;&nbsp; 2729890197 | &nbsp;&nbsp;&nbsp; 4003692675 | &nbsp;&nbsp;&nbsp; 295634091 | &nbsp;&nbsp;&nbsp; 235885249 |
| Beginning of year | &nbsp;&nbsp; 11380787160 | &nbsp;&nbsp;&nbsp; 7377094485 | &nbsp;&nbsp;&nbsp; 1736936268 | &nbsp;&nbsp;&nbsp; 1501051019 |
| End of year | &nbsp;&nbsp; $14110677357 | &nbsp;&nbsp;&nbsp; $11380787160 | &nbsp;&nbsp;&nbsp; $2032570359 | &nbsp;&nbsp;&nbsp; $1736936268 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>Core MSCI Total International Stock ETF  | iShares <br>Core MSCI Total International Stock ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended<sup>(a)</sup> <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |
| **OPERATIONS** |  |  |
| Net investment income | &nbsp;&nbsp; $978760866 | &nbsp;&nbsp;&nbsp; $929365736 |
| Net realized loss | &nbsp;&nbsp; (243230997)<br>| &nbsp;&nbsp;&nbsp; (225978064)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 2623620085 | &nbsp;&nbsp;&nbsp; 3126687616 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 3359149954 | &nbsp;&nbsp;&nbsp; 3830075288 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (1087342961)<br>| &nbsp;&nbsp;&nbsp; (735951498)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 2509054152 | &nbsp;&nbsp;&nbsp; 1884043701 |
| *NET ASSETS* |  |  |
| Total increase in net assets | &nbsp;&nbsp; 4780861145 | &nbsp;&nbsp;&nbsp; 4978167491 |
| Beginning of year | &nbsp;&nbsp; 33091639066 | &nbsp;&nbsp;&nbsp; 28113471575 |
| End of year | &nbsp;&nbsp; $37872500211 | &nbsp;&nbsp;&nbsp; $33091639066 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Consolidated Statement of Changes in Net Assets. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Core MSCI EAFE ETF  | iShares Core MSCI EAFE ETF  | iShares Core MSCI EAFE ETF  | iShares Core MSCI EAFE ETF  | iShares Core MSCI EAFE ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $69.41 | &nbsp;&nbsp;&nbsp; $61.88 | &nbsp;&nbsp;&nbsp; $75.40 | &nbsp;&nbsp;&nbsp; $58.48 | &nbsp;&nbsp;&nbsp; $60.80 |
| Net investment income<sup>(a)</sup> | 2.08 | &nbsp;&nbsp;&nbsp;&nbsp; 2.03 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.10 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.76 | &nbsp;&nbsp;&nbsp;&nbsp;1.52 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 5.58 | &nbsp;&nbsp;&nbsp;&nbsp;7.12 | &nbsp;&nbsp;&nbsp; (12.90)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.86 | &nbsp;&nbsp;&nbsp; (2.26)<br>|
| Net increase (decrease) from investment operations | 7.66 | &nbsp;&nbsp;&nbsp;&nbsp;9.15 | &nbsp;&nbsp;&nbsp; (10.80)<br>| &nbsp;&nbsp;&nbsp;&nbsp;18.62 | &nbsp;&nbsp;&nbsp; (0.74)<br>|
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (2.28)<br>| &nbsp;&nbsp;&nbsp; (1.62)<br>| &nbsp;&nbsp;&nbsp; (2.72)<br>| &nbsp;&nbsp;&nbsp; (1.70)<br>| &nbsp;&nbsp;&nbsp; (1.58)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $74.79 | &nbsp;&nbsp;&nbsp; $69.41 | &nbsp;&nbsp;&nbsp; $61.88 | &nbsp;&nbsp;&nbsp; $75.40 | &nbsp;&nbsp;&nbsp; $58.48 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 11.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 14.94 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (14.58 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 31.95<br> %<br>| &nbsp;&nbsp;&nbsp; (1.30)%<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 2.97<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.21 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.00 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.55 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.57<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $120159549 | &nbsp;&nbsp;&nbsp; $102003706 | &nbsp;&nbsp;&nbsp; $88823464 | &nbsp;&nbsp;&nbsp; $99092545 | &nbsp;&nbsp;&nbsp; $66212280 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 2<br> %<br>| &nbsp;&nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 2<br> %<br>| &nbsp;&nbsp;&nbsp; 2<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 and <br> July 31, 2022, respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.03% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 and <br> July 31, 2022, respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.03% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 and <br> July 31, 2022, respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.03% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 and <br> July 31, 2022, respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.03% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 and <br> July 31, 2022, respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.03% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 and <br> July 31, 2022, respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.03% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.02%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Core MSCI Europe ETF  | iShares Core MSCI Europe ETF  | iShares Core MSCI Europe ETF  | iShares Core MSCI Europe ETF  | iShares Core MSCI Europe ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $54.06 | &nbsp;&nbsp;&nbsp; $47.25 | &nbsp;&nbsp;&nbsp; $58.23 | &nbsp;&nbsp;&nbsp; $44.41 | &nbsp;&nbsp;&nbsp; $45.70 |
| Net investment income<sup>(a)</sup> | 1.73 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.65 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.61 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.28 | &nbsp;&nbsp;&nbsp;&nbsp;1.09 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 4.36 | &nbsp;&nbsp;&nbsp;&nbsp;6.67 | &nbsp;&nbsp;&nbsp; (10.68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.91 | &nbsp;&nbsp;&nbsp; (1.39)<br>|
| Net increase (decrease) from investment operations | 6.09 | &nbsp;&nbsp;&nbsp;&nbsp;8.32 | &nbsp;&nbsp;&nbsp; (9.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.19 | &nbsp;&nbsp;&nbsp; (0.30)<br>|
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.76)<br>| &nbsp;&nbsp;&nbsp; (1.51)<br>| &nbsp;&nbsp;&nbsp; (1.91)<br>| &nbsp;&nbsp;&nbsp; (1.37)<br>| &nbsp;&nbsp;&nbsp; (0.99)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $58.39 | &nbsp;&nbsp;&nbsp; $54.06 | &nbsp;&nbsp;&nbsp; $47.25 | &nbsp;&nbsp;&nbsp; $58.23 | &nbsp;&nbsp;&nbsp; $44.41 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 11.40 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 17.84 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (15.80 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 34.39<br> %<br>| &nbsp;&nbsp;&nbsp; (0.66)%<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.11<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 3.17 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.36 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.98 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.46<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.45<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $4630353 | &nbsp;&nbsp;&nbsp; $4389834 | &nbsp;&nbsp;&nbsp; $3926722 | &nbsp;&nbsp;&nbsp; $5287174 | &nbsp;&nbsp;&nbsp; $3463613 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 3<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022, respectively::<br> • Net investment income per share by $0.01, $0.09 and $0.01.<br> • Total return by 0.02%, 0.18% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.02%, 0.18% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022, respectively::<br> • Net investment income per share by $0.01, $0.09 and $0.01.<br> • Total return by 0.02%, 0.18% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.02%, 0.18% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022, respectively::<br> • Net investment income per share by $0.01, $0.09 and $0.01.<br> • Total return by 0.02%, 0.18% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.02%, 0.18% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022, respectively::<br> • Net investment income per share by $0.01, $0.09 and $0.01.<br> • Total return by 0.02%, 0.18% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.02%, 0.18% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022, respectively::<br> • Net investment income per share by $0.01, $0.09 and $0.01.<br> • Total return by 0.02%, 0.18% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.02%, 0.18% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022, respectively::<br> • Net investment income per share by $0.01, $0.09 and $0.01.<br> • Total return by 0.02%, 0.18% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.02%, 0.18% and 0.01%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Core MSCI International Developed Markets ETF  | iShares Core MSCI International Developed Markets ETF  | iShares Core MSCI International Developed Markets ETF  | iShares Core MSCI International Developed Markets ETF  | iShares Core MSCI International Developed Markets ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $62.81 | &nbsp;&nbsp;&nbsp; $56.46 | &nbsp;&nbsp;&nbsp; $67.86 | &nbsp;&nbsp;&nbsp; $52.39 | &nbsp;&nbsp;&nbsp; $54.31 |
| Net investment income<sup>(a)</sup> | 1.88 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.83 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.85 | &nbsp;&nbsp;&nbsp;&nbsp;1.60 | &nbsp;&nbsp;&nbsp;&nbsp;1.46 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 5.04 | &nbsp;&nbsp;&nbsp;&nbsp;5.94 | &nbsp;&nbsp;&nbsp; (10.90)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.42 | &nbsp;&nbsp;&nbsp; (2.04)<br>|
| Net increase (decrease) from investment operations | 6.92 | &nbsp;&nbsp;&nbsp;&nbsp;7.77 | &nbsp;&nbsp;&nbsp; (9.05)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.02 | &nbsp;&nbsp;&nbsp; (0.58)<br>|
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (2.00)<br>| &nbsp;&nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp;&nbsp; (2.35)<br>| &nbsp;&nbsp;&nbsp; (1.55)<br>| &nbsp;&nbsp;&nbsp; (1.34)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $67.73 | &nbsp;&nbsp;&nbsp; $62.81 | &nbsp;&nbsp;&nbsp; $56.46 | &nbsp;&nbsp;&nbsp; $67.86 | &nbsp;&nbsp;&nbsp; $52.39 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 11.22 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.91 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (13.57)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 32.63<br> %<br>| &nbsp;&nbsp;&nbsp; (1.14)%<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>|
| Total expenses after fees waived | 0.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.05<br> %<br>|
| Net investment income | 2.97 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.15 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.93<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.56<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.81<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $14110677 | &nbsp;&nbsp;&nbsp; $11380787 | &nbsp;&nbsp;&nbsp; $7377094 | &nbsp;&nbsp;&nbsp; $6158362 | &nbsp;&nbsp;&nbsp; $2844598 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 2<br> %<br>| &nbsp;&nbsp;&nbsp; 6<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp;&nbsp; 17<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 <br> and July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.01% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 <br> and July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.01% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 <br> and July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.01% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 <br> and July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.01% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 <br> and July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.01% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 <br> and July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.01% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.02%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Core MSCI Pacific ETF  | iShares Core MSCI Pacific ETF  | iShares Core MSCI Pacific ETF  | iShares Core MSCI Pacific ETF  | iShares Core MSCI Pacific ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $59.28 | &nbsp;&nbsp;&nbsp; $54.78 | &nbsp;&nbsp;&nbsp; $65.86 | &nbsp;&nbsp;&nbsp; $52.60 | &nbsp;&nbsp;&nbsp; $55.60 |
| Net investment income<sup>(a)</sup> | 1.58 | &nbsp;&nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;&nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;&nbsp;1.45 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 4.77 | &nbsp;&nbsp;&nbsp;&nbsp;4.14 | &nbsp;&nbsp;&nbsp; (10.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.15 | &nbsp;&nbsp;&nbsp; (2.72)<br>|
| Net increase (decrease) from investment operations | 6.35 | &nbsp;&nbsp;&nbsp;&nbsp;5.80 | &nbsp;&nbsp;&nbsp; (8.36)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14.57 | &nbsp;&nbsp;&nbsp; (1.27)<br>|
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (1.91)<br>| &nbsp;&nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp;&nbsp; (2.72)<br>| &nbsp;&nbsp;&nbsp; (1.31)<br>| &nbsp;&nbsp;&nbsp; (1.73)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $63.72 | &nbsp;&nbsp;&nbsp; $59.28 | &nbsp;&nbsp;&nbsp; $54.78 | &nbsp;&nbsp;&nbsp; $65.86 | &nbsp;&nbsp;&nbsp; $52.60 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 11.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.73<br> %<br>| &nbsp;&nbsp;&nbsp; (13.01)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 27.70<br> %<br>| &nbsp;&nbsp;&nbsp; (2.45)%<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>|
| Net investment income | 2.66<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.72<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.67<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $2032570 | &nbsp;&nbsp;&nbsp; $1736936 | &nbsp;&nbsp;&nbsp; $1501051 | &nbsp;&nbsp;&nbsp; $1119667 | &nbsp;&nbsp;&nbsp; $904692 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 6<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Core MSCI Total International Stock ETF  | iShares Core MSCI Total International Stock ETF  | iShares Core MSCI Total International Stock ETF  | iShares Core MSCI Total International Stock ETF  | iShares Core MSCI Total International Stock ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<sup>(a)</sup> <br>| &nbsp;&nbsp; Year Ended <br>07/31/22<sup>(a)</sup> <br>| &nbsp;&nbsp; Year Ended <br>07/31/21<sup>(a)</sup> <br>| &nbsp;&nbsp; Year Ended <br>07/31/20<sup>(a)</sup> <br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $64.95 | &nbsp;&nbsp;&nbsp; $59.02 | &nbsp;&nbsp;&nbsp; $72.22 | &nbsp;&nbsp;&nbsp; $56.92 | &nbsp;&nbsp;&nbsp; $57.96 |
| Net investment income<sup>(b)</sup> | 1.86 <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.87 <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.93 <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;&nbsp;&nbsp;1.53 |
| Net realized and unrealized gain (loss)<sup>(d)</sup> | 4.38 | &nbsp;&nbsp;&nbsp;&nbsp;5.53 | &nbsp;&nbsp;&nbsp; (12.82)<br>| &nbsp;&nbsp;&nbsp;&nbsp;15.28 | &nbsp;&nbsp;&nbsp; (1.06)<br>|
| Net increase (decrease) from investment operations | 6.24 | &nbsp;&nbsp;&nbsp;&nbsp;7.40 | &nbsp;&nbsp;&nbsp; (10.89)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.86 | &nbsp;&nbsp;&nbsp;&nbsp;0.47 |
| Distributions from net investment income<sup>(e)</sup> | &nbsp;&nbsp; (2.07)<br>| &nbsp;&nbsp;&nbsp; (1.47)<br>| &nbsp;&nbsp;&nbsp; (2.31)<br>| &nbsp;&nbsp;&nbsp; (1.56)<br>| &nbsp;&nbsp;&nbsp; (1.51)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $69.12 | &nbsp;&nbsp;&nbsp; $64.95 | &nbsp;&nbsp;&nbsp; $59.02 | &nbsp;&nbsp;&nbsp; $72.22 | &nbsp;&nbsp;&nbsp; $56.92 |
| **Total Return**<sup>(f)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 9.84 %<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.72 %<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; (15.36 )%<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 29.71<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.77 %<sup>(g)</sup><br>|
| **Ratios to Average Net Assets**<sup>(h)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>|
| Total expenses after fees waived | 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.07<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.09<br> %<br>|
| Net investment income | 2.88 %<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.14 %<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.87 %<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.72<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $37872500 | &nbsp;&nbsp;&nbsp; $33091639 | &nbsp;&nbsp;&nbsp; $28113472 | &nbsp;&nbsp;&nbsp; $30065795 | &nbsp;&nbsp;&nbsp; $19546312 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 10<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>|
| <sup>(a)</sup> Consolidated Financial Highlights. | <sup>(a)</sup> Consolidated Financial Highlights. | <sup>(a)</sup> Consolidated Financial Highlights. | <sup>(a)</sup> Consolidated Financial Highlights. | <sup>(a)</sup> Consolidated Financial Highlights. | <sup>(a)</sup> Consolidated Financial Highlights. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024:<br> • Net investment income per share by $0.01.<br> • Total return by 0.02%..<br> • Ratio of net investment income to average net assets by 0.02%. | <sup>(c)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024:<br> • Net investment income per share by $0.01.<br> • Total return by 0.02%..<br> • Ratio of net investment income to average net assets by 0.02%. | <sup>(c)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024:<br> • Net investment income per share by $0.01.<br> • Total return by 0.02%..<br> • Ratio of net investment income to average net assets by 0.02%. | <sup>(c)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024:<br> • Net investment income per share by $0.01.<br> • Total return by 0.02%..<br> • Ratio of net investment income to average net assets by 0.02%. | <sup>(c)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024:<br> • Net investment income per share by $0.01.<br> • Total return by 0.02%..<br> • Ratio of net investment income to average net assets by 0.02%. | <sup>(c)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024:<br> • Net investment income per share by $0.01.<br> • Total return by 0.02%..<br> • Ratio of net investment income to average net assets by 0.02%. |
| <sup>(d)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(d)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(d)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(d)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(d)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(d)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(e)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(e)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(e)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(e)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(e)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(e)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(f)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(f)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(f)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(f)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(f)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(f)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(g)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(g)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(g)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(g)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(g)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(g)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. |
| <sup>(h)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(h)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(h)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(h)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(h)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(h)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| Core MSCI EAFE | &nbsp;&nbsp; Diversified |
| Core MSCI Europe | &nbsp;&nbsp; Diversified |
| Core MSCI International Developed Markets | &nbsp;&nbsp; Diversified |
| Core MSCI Pacific | &nbsp;&nbsp; Diversified |
| Core MSCI Total International Stock | &nbsp;&nbsp; Diversified |

---

**Basis of Consolidation:** The accompanying consolidated financial statements for the iShares Core MSCI Total International Stock ETF included the accounts of its subsidiary in the Republic of Mauritius, which was a wholly-owned subsidiary (the "Subsidiary") of the Fund that invested in Indian securities. On April 26, 2023, the Fund filed to liquidate its Subsidiary with the Mauritius Financial Services Commission.

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Foreign Taxes:** The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2024, if any, are disclosed in the Statements of Assets and Liabilities.

The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Collateralization:** If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's published NAV.

&nbsp;&nbsp;&nbsp;&nbsp;• Futures contracts are valued based on that day's last reported settlement or trade price on the exchange where the contract is traded.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange ("NYSE"). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments ("Systematic Fair Value Price"). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** 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:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

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 that may not have a secondary market and/or may have 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.

***4. SECURITIES AND OTHER INVESTMENTS***

**Warrants:** Warrants entitle a fund to purchase a specified number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date of the warrants, if any. If the price of the underlying stock does not rise above the strike price before the warrant expires, the warrant generally expires without any value and a fund will lose any amount it paid for the warrant. Thus, investments in warrants may involve more risk than investments in common stock. Warrants may trade in the same markets as their underlying stock; however, the price of the warrant does not necessarily move with the price of the underlying stock.

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| Core MSCI EAFE |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $5185864 | &nbsp;&nbsp;&nbsp; $(5166567) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $19297<sup>(b)</sup> <br>|
| Barclays Capital, Inc. | &nbsp;&nbsp; 14112981 | &nbsp;&nbsp;&nbsp; (14112981) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 19648415 | &nbsp;&nbsp;&nbsp; (19648415) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 90262271 | &nbsp;&nbsp;&nbsp; (90262271) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 19726030 | &nbsp;&nbsp;&nbsp; (19726030) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Deutsche Bank Securities, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;(3) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 204860480 | &nbsp;&nbsp;&nbsp; (204860480) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 363536 | &nbsp;&nbsp;&nbsp; (363536) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 124966513 | &nbsp;&nbsp;&nbsp; (124966513) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 10362093 | &nbsp;&nbsp;&nbsp; (10362093) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Macquarie Bank Ltd. | &nbsp;&nbsp; 4076000 | &nbsp;&nbsp;&nbsp; (4076000) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 163032760 | &nbsp;&nbsp;&nbsp; (163032760) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| National Financial Services LLC | &nbsp;&nbsp; 1322552 | &nbsp;&nbsp;&nbsp; (1322552) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 974563 | &nbsp;&nbsp;&nbsp; (974563) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 111003 | &nbsp;&nbsp;&nbsp; (111003) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 4783582 | &nbsp;&nbsp;&nbsp; (4783582) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 18325396 | &nbsp;&nbsp;&nbsp; (18325396) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 224364 | &nbsp;&nbsp;&nbsp; (201118) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 23246<sup>(b)</sup> <br>|
| UBS AG | &nbsp;&nbsp; 3598497 | &nbsp;&nbsp;&nbsp; (3598497) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;(4) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $685936907 | &nbsp;&nbsp;&nbsp; $(685894364) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $42543 |
| Core MSCI Europe |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $739792 | &nbsp;&nbsp;&nbsp; $(739792) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 1310410 | &nbsp;&nbsp;&nbsp; (1310410) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 1550798 | &nbsp;&nbsp;&nbsp; (1550798) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 134531 | &nbsp;&nbsp;&nbsp; (134531) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 8053394 | &nbsp;&nbsp;&nbsp; (8053394) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 7392797 | &nbsp;&nbsp;&nbsp; (7392797) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 5653868 | &nbsp;&nbsp;&nbsp; (5653868) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 3235913 | &nbsp;&nbsp;&nbsp; (3235913) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 408545 | &nbsp;&nbsp;&nbsp; (408545) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 113052 | &nbsp;&nbsp;&nbsp; (113052) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $28593100 | &nbsp;&nbsp;&nbsp; $(28593100) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Core MSCI International Developed Markets |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $1773110 | &nbsp;&nbsp;&nbsp; $(1708391) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $64719<sup>(b)</sup> <br>|
| BNP Paribas SA | &nbsp;&nbsp; 2694560 | &nbsp;&nbsp;&nbsp; (2694560) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 4703649 | &nbsp;&nbsp;&nbsp; (4703649) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 6289099 | &nbsp;&nbsp;&nbsp; (6289099) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 19886056 | &nbsp;&nbsp;&nbsp; (19886056) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 9677283 | &nbsp;&nbsp;&nbsp; (9677283) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 15175871 | &nbsp;&nbsp;&nbsp; (15175871) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 809291 | &nbsp;&nbsp;&nbsp; (809291) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Macquarie Bank Ltd. | &nbsp;&nbsp; 183705 | &nbsp;&nbsp;&nbsp; (183705) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 11297039 | &nbsp;&nbsp;&nbsp; (11297039) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 1258723 | &nbsp;&nbsp;&nbsp; (1258723) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 133016 | &nbsp;&nbsp;&nbsp; (133016) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 3567806 | &nbsp;&nbsp;&nbsp; (3567806) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 112001 | &nbsp;&nbsp;&nbsp; (112001) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Virtu Americas LLC | &nbsp;&nbsp; 218295 | &nbsp;&nbsp;&nbsp; (218295) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $77779504 | &nbsp;&nbsp;&nbsp; $(77714785) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $64719 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| Core MSCI Pacific |  |  |  |  |
| BNP Paribas SA | &nbsp;&nbsp; $134734 | &nbsp;&nbsp;&nbsp; $(134734) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BofA Securities, Inc. | &nbsp;&nbsp; 1672732 | &nbsp;&nbsp;&nbsp; (1672732) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 605571 | &nbsp;&nbsp;&nbsp; (605571) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 6341553 | &nbsp;&nbsp;&nbsp; (6341553) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 3672678 | &nbsp;&nbsp;&nbsp; (3672678) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 2751198 | &nbsp;&nbsp;&nbsp; (2751198) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 348868 | &nbsp;&nbsp;&nbsp; (348868) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Macquarie Bank Ltd. | &nbsp;&nbsp; 982639 | &nbsp;&nbsp;&nbsp; (982639) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 2341019 | &nbsp;&nbsp;&nbsp; (2341019) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 49543 | &nbsp;&nbsp;&nbsp; (49013) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 530<sup>(b)</sup> <br>|
| SG Americas Securities LLC | &nbsp;&nbsp; 28226 | &nbsp;&nbsp;&nbsp; (28226) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 330902 | &nbsp;&nbsp;&nbsp; (330902) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 22654 | &nbsp;&nbsp;&nbsp; (22654) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $19282317 | &nbsp;&nbsp;&nbsp; $(19281787) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $530 |
| Core MSCI Total International Stock |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $1287824 | &nbsp;&nbsp;&nbsp; $(1160936) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $126888<sup>(b)</sup> <br>|
| Barclays Capital, Inc. | &nbsp;&nbsp; 8510546 | &nbsp;&nbsp;&nbsp; (8510546) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 9759763 | &nbsp;&nbsp;&nbsp; (9759763) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 44665802 | &nbsp;&nbsp;&nbsp; (44665802) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 13689300 | &nbsp;&nbsp;&nbsp; (13689300) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 59424328 | &nbsp;&nbsp;&nbsp; (59424328) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 29730124 | &nbsp;&nbsp;&nbsp; (29730124) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 28464625 | &nbsp;&nbsp;&nbsp; (28464625) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities PLC | &nbsp;&nbsp; 441333 | &nbsp;&nbsp;&nbsp; (441333) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 1823728 | &nbsp;&nbsp;&nbsp; (1823728) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Macquarie Bank Ltd. | &nbsp;&nbsp; 372664 | &nbsp;&nbsp;&nbsp; (372664) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Mizuho Securities USA LLC | &nbsp;&nbsp; 314982 | &nbsp;&nbsp;&nbsp; (314982) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 90426395 | &nbsp;&nbsp;&nbsp; (90426395) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| National Financial Services LLC | &nbsp;&nbsp; 230537 | &nbsp;&nbsp;&nbsp; (230537) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 3756060 | &nbsp;&nbsp;&nbsp; (3756060) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 2066347 | &nbsp;&nbsp;&nbsp; (2066347) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 1305297 | &nbsp;&nbsp;&nbsp; (1305297) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 6064600 | &nbsp;&nbsp;&nbsp; (6064600) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 114905 | &nbsp;&nbsp;&nbsp; (114905) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 3440214 | &nbsp;&nbsp;&nbsp; (3440214) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 747227 | &nbsp;&nbsp;&nbsp; (747227) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $306636601 | &nbsp;&nbsp;&nbsp; $(306509713) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $126888 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

<sup>(b)</sup> The market value of the loaned securities is determined as of July 31, 2024. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by a counterparty. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. ("BlackRock"). BlackRock's indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. DERIVATIVE FINANCIAL INSTRUMENTS***

**Futures Contracts:** Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract's size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.

***6. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| Core MSCI EAFE | 0.07% |
| Core MSCI Europe | 0.09 |
| Core MSCI International Developed Markets | 0.04 |
| Core MSCI Pacific | 0.09 |
| Core MSCI Total International Stock | 0.07 |

---

**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statement of Operations does not include acquired fund fees and expenses.

For the iShares Core MSCI Total International Stock ETF, BFA contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2026 in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund's investments in other iShares funds.

For year ended July 31, 2024, there were no fees waived by BFA pursuant to this arrangement.

**Distributor:** BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, redemption fee, distribution fee or service fee. The money market fund in which the cash collateral has been invested may impose a discretionary liquidity fee of up to 2% of the value redeemed, if such fee is determined to be in the best interests of such money market fund.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended July 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| Core MSCI EAFE | &nbsp;&nbsp; $3099434 |
| Core MSCI Europe | &nbsp;&nbsp; 97443 |
| Core MSCI International Developed Markets | &nbsp;&nbsp; 294916 |
| Core MSCI Pacific | &nbsp;&nbsp; 54426 |
| Core MSCI Total International Stock | &nbsp;&nbsp; 1492702 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the year ended July 31, 2024, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* | &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>|
| Core MSCI EAFE | &nbsp;&nbsp; $531704717 | &nbsp;&nbsp;&nbsp; $93686306 | &nbsp;&nbsp;&nbsp; $(9073786) |
| Core MSCI Europe | &nbsp;&nbsp; 54478966 | &nbsp;&nbsp;&nbsp; 24179234 | &nbsp;&nbsp;&nbsp; (5493867) |
| Core MSCI International Developed Markets | &nbsp;&nbsp; 99365810 | &nbsp;&nbsp;&nbsp; 27000122 | &nbsp;&nbsp;&nbsp; 404048 |
| Core MSCI Pacific | &nbsp;&nbsp; 5481571 | &nbsp;&nbsp;&nbsp; 4991433 | &nbsp;&nbsp;&nbsp; (323749) |
| Core MSCI Total International Stock | &nbsp;&nbsp; 43224072 | &nbsp;&nbsp;&nbsp; 59366013 | &nbsp;&nbsp;&nbsp; (7332622) |

---

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***7. PURCHASES AND SALES***

For the year ended July 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| Core MSCI EAFE | &nbsp;&nbsp; $5467946558 | &nbsp;&nbsp;&nbsp; $2566303620 |
| Core MSCI Europe | &nbsp;&nbsp; 289059492 | &nbsp;&nbsp;&nbsp; 215808752 |
| Core MSCI International Developed Markets | &nbsp;&nbsp; 668590746 | &nbsp;&nbsp;&nbsp; 350314144 |
| Core MSCI Pacific | &nbsp;&nbsp; 97687710 | &nbsp;&nbsp;&nbsp; 95277096 |
| Core MSCI Total International Stock | &nbsp;&nbsp; 2224652507 | &nbsp;&nbsp;&nbsp; 1072362782 |

---

For the year ended July 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| Core MSCI EAFE | &nbsp;&nbsp; $6395643595 | &nbsp;&nbsp;&nbsp; $— |
| Core MSCI Europe | &nbsp;&nbsp; 570119334 | &nbsp;&nbsp;&nbsp; 745308028 |
| Core MSCI International Developed Markets | &nbsp;&nbsp; 1368727517 | &nbsp;&nbsp;&nbsp; — |
| Core MSCI Pacific | &nbsp;&nbsp; 260965717 | &nbsp;&nbsp;&nbsp; 124226810 |
| Core MSCI Total International Stock | &nbsp;&nbsp; 1204294728 | &nbsp;&nbsp;&nbsp; — |

---

***8. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of July 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2024, permanent differences attributable to nondeductible expenses and realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| Core MSCI EAFE | &nbsp;&nbsp; $1553 | &nbsp;&nbsp;&nbsp; $(1553) |
| Core MSCI Europe | &nbsp;&nbsp; 203448376 | &nbsp;&nbsp;&nbsp; (203448376) |
| Core MSCI Pacific | &nbsp;&nbsp; 38557479 | &nbsp;&nbsp;&nbsp; (38557479) |
| Core MSCI Total International Stock | (96) | &nbsp;&nbsp;&nbsp; 96 |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*07/31/23*<br>|
| Core MSCI EAFE |  |  |
| Ordinary income | &nbsp;&nbsp; $3522125819 | &nbsp;&nbsp;&nbsp; $2335829412 |
| Core MSCI Europe |  |  |
| Ordinary income | &nbsp;&nbsp; $144029877 | &nbsp;&nbsp;&nbsp; $123397635 |
| Core MSCI International Developed Markets |  |  |
| Ordinary income | &nbsp;&nbsp; $393369827 | &nbsp;&nbsp;&nbsp; $243534870 |
| Core MSCI Pacific |  |  |
| Ordinary income | &nbsp;&nbsp; $58321914 | &nbsp;&nbsp;&nbsp; $38736051 |
| Core MSCI Total International Stock |  |  |
| Ordinary income | &nbsp;&nbsp; $1087342961 | &nbsp;&nbsp;&nbsp; $735951498 |

---

As of July 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| Core MSCI EAFE | &nbsp;&nbsp; $818242391 | &nbsp;&nbsp;&nbsp; $(3423128652) | &nbsp;&nbsp;&nbsp; $17940267600 | &nbsp;&nbsp;&nbsp; $15335381339 |
| Core MSCI Europe | &nbsp;&nbsp; 22643483 | &nbsp;&nbsp;&nbsp; (270321902) | &nbsp;&nbsp;&nbsp; 89733008 | &nbsp;&nbsp;&nbsp; (157945411) |
| Core MSCI International Developed Markets | &nbsp;&nbsp; 92124202 | &nbsp;&nbsp;&nbsp; (219201204) | &nbsp;&nbsp;&nbsp; 2022666956 | &nbsp;&nbsp;&nbsp; 1895589954 |
| Core MSCI Pacific | &nbsp;&nbsp; 19184868 | &nbsp;&nbsp;&nbsp; (81225092) | &nbsp;&nbsp;&nbsp; 165795918 | &nbsp;&nbsp;&nbsp; 103755694 |
| Core MSCI Total International Stock | &nbsp;&nbsp; 334884149 | &nbsp;&nbsp;&nbsp; (1633726306) | &nbsp;&nbsp;&nbsp; 6320503800 | &nbsp;&nbsp;&nbsp; 5021661643 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain futures contracts, the timing and recognition of partnership income, the characterization of corporate actions, the realization for tax purposes of unrealized gains on investments in passive foreign investment companies and the timing and recognition of realized gains/losses for tax purposes. 

A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as "passive foreign investment companies." Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.

As of July 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Core MSCI EAFE | &nbsp;&nbsp; $102428469727 | &nbsp;&nbsp;&nbsp; $28570554613 | &nbsp;&nbsp;&nbsp; $(10639245323) | &nbsp;&nbsp;&nbsp; $17931309290 |
| Core MSCI Europe | &nbsp;&nbsp; 4546336937 | &nbsp;&nbsp;&nbsp; 664951166 | &nbsp;&nbsp;&nbsp; (575491196) | &nbsp;&nbsp;&nbsp; 89459970 |
| Core MSCI International Developed Markets | &nbsp;&nbsp; 12085436287 | &nbsp;&nbsp;&nbsp; 2825192997 | &nbsp;&nbsp;&nbsp; (803711275) | &nbsp;&nbsp;&nbsp; 2021481722 |
| Core MSCI Pacific | &nbsp;&nbsp; 1881062438 | &nbsp;&nbsp;&nbsp; 334987871 | &nbsp;&nbsp;&nbsp; (169355444) | &nbsp;&nbsp;&nbsp; 165632427 |
| Core MSCI Total International Stock | &nbsp;&nbsp; 31727711093 | &nbsp;&nbsp;&nbsp; 10075280268 | &nbsp;&nbsp;&nbsp; (3632420248) | &nbsp;&nbsp;&nbsp; 6442860020 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***9. LINE OF CREDIT***

The iShares Core MSCI Total International Stock ETF, along with certain other iShares funds ("Participating Funds"), is a party to a $800 million credit agreement ("Syndicated Credit Agreement") with a group of lenders, which expires on October 16, 2024. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) Daily Simple Secured Overnight Financing Rate ("SOFR") plus 0.10% and 1.00% per annum or (b) the U.S. Federal Funds rate plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund's relative exposure to certain target markets or a Participating Fund's maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

For the year ended July 31, 2024, the maximum amount borrowed, the average daily borrowing and the weighted average interest rate, if any, under the Syndicated Credit Agreement were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Maximum* <br>*Amount* <br>*Borrowed*<br>| &nbsp;&nbsp; *Average* <br>*Borrowing*<br>| &nbsp;&nbsp; *Weighted* <br>*Average* <br>*Interest Rates* <br>|
| Core MSCI Total International Stock | &nbsp;&nbsp; $79700000 | &nbsp;&nbsp;&nbsp; $3245492 | &nbsp;&nbsp;&nbsp;&nbsp;4.90% |

---

***10. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to discretionary liquidity fees under certain circumstances.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore each Fund's results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by each Fund, and each Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker's customers, potentially resulting in losses to the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

Certain Funds invest a significant portion of their assets in issuers located in a single country or a limited number of countries. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions in that country or those countries may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the Fund's portfolio. Unanticipated or sudden political or social developments may cause uncertainty in the markets and as a result adversely affect the Fund's investments. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be more volatile and less liquid than U.S. securities and may be less subject to governmental supervision not typically associated with investing in U.S. securities. Investment percentages in specific countries are presented in the Schedule of Investments.

Certain Funds invest a significant portion of their assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds' investments.

Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. These events and actions have adversely affected, and may in the future adversely affect**,** the value and exchange rate of the Euro and may continue to significantly affect the economies of every country in Europe, including countries that do not use the Euro and non-European Union member states. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but have been, and may continue to be, significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds' investments.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***11. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Year Ended <br>07/31/23 | Year Ended <br>07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Core MSCI EAFE |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 137000000 | &nbsp;&nbsp;&nbsp; $9630327254 | &nbsp;&nbsp;&nbsp; 34200000 | &nbsp;&nbsp;&nbsp; $2263134016 |
| Core MSCI Europe |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 11800000 | &nbsp;&nbsp;&nbsp; $669881776 | &nbsp;&nbsp;&nbsp; 5900000 | &nbsp;&nbsp;&nbsp; $308442219 |
| Shares redeemed | &nbsp;&nbsp; (13700000)<br>| &nbsp;&nbsp;&nbsp; (768852524)<br>| &nbsp;&nbsp;&nbsp; (7800000)<br>| &nbsp;&nbsp;&nbsp; (353453619)<br>|
|  | &nbsp;&nbsp; (1900000)<br>| &nbsp;&nbsp;&nbsp; $(98970748)<br>| &nbsp;&nbsp;&nbsp; (1900000)<br>| &nbsp;&nbsp;&nbsp; $(45011400)<br>|
| Core MSCI International Developed Markets |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 27150000 | &nbsp;&nbsp;&nbsp; $1746017299 | &nbsp;&nbsp;&nbsp; 50550000 | &nbsp;&nbsp;&nbsp; $2838953351 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended<br> 07/31/24 | Year Ended<br> 07/31/24 | Year Ended<br> 07/31/23 | Year Ended<br> 07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Core MSCI Pacific |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp;&nbsp; $271941795 | &nbsp;&nbsp;&nbsp; 9900000 | &nbsp;&nbsp;&nbsp; $555909181 |
| Shares redeemed | &nbsp;&nbsp; (2000000)<br>| &nbsp;&nbsp;&nbsp; (124319298)<br>| &nbsp;&nbsp;&nbsp; (8000000)<br>| &nbsp;&nbsp;&nbsp; (451733002)<br>|
|  | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp; $147622497 | &nbsp;&nbsp;&nbsp; 1900000 | &nbsp;&nbsp;&nbsp; $104176179 |
| Core MSCI Total International Stock |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 38400000 | &nbsp;&nbsp;&nbsp; $2509054152 | &nbsp;&nbsp;&nbsp; 33200000 | &nbsp;&nbsp;&nbsp; $1884043701 |

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust's administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for Funds using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Fund's custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***12. FOREIGN WITHHOLDING TAX CLAIMS***

The Internal Revenue Service ("IRS") has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which each of the iShares Core MSCI EAFE ETF, iShares Core MSCI Europe ETF, iShares Core MSCI International Developed Markets ETF and iShares Core MSCI Total International Stock ETF is able to pass through to its shareholders as a foreign tax credit in the current year, each of the Funds will be able to offset the prior years' withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Funds.

***13. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

2024 iShares Annual Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the five funds listed in the table below

***Opinions on the Financial Statements*** 

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (five of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of July 31, 2024, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of July 31, 2024, the results of each of their operations, the changes in each of their net assets, and each of the financial highlights for each of the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| iShares Core MSCI EAFE ETF<sup>(1)</sup> <br>|
| iShares Core MSCI Europe ETF<sup>(1)</sup> <br>|
| iShares Core MSCI International Developed Markets ETF<sup>(1)</sup> <br>|
| iShares Core MSCI Pacific ETF<sup>(1)</sup> <br>|
| iShares Core MSCI Total International Stock ETF<sup>(2)</sup> <br>|

---

<sup>(1)</sup> Statement of operations for the year ended July 31, 2024 statement of changes in net assets for each of the two years in the period ended July 31, 2024 and the financial highlights for each of the five years in the period ended July 31, 2024

<sup>(2)</sup> Statement of operations for the year ended July 31, 2024 statement of changes in net assets for the year ended July 31, 2024 consolidated statement of changes in net assets for the year ended July 31, 2023 the financial highlights for the year ended July 31, 2024 and the consolidated financial highlights for each of the four years in the period ended July 31, 2023

***Basis for Opinions*** 

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

September 23, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

Report of Independent Registered Public Accounting Firm

------

Important Tax Information (unaudited)

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2024:

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| | |
|:---|:---|
| *iShares ETF* | *Qualified Dividend* <br>*Income*<br>|
| Core MSCI EAFE | &nbsp;&nbsp; $3210185834 |
| Core MSCI Europe | &nbsp;&nbsp; 149717359 |
| Core MSCI International Developed Markets | &nbsp;&nbsp; 368016515 |
| Core MSCI Pacific | &nbsp;&nbsp; 41852863 |
| Core MSCI Total International Stock | &nbsp;&nbsp; 865337115 |

---

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended July 31, 2024:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Foreign* <br>*Taxes Paid*<br>|
| Core MSCI EAFE | &nbsp;&nbsp; $3497922952 | &nbsp;&nbsp;&nbsp;&nbsp; $219175804 |
| Core MSCI Europe | &nbsp;&nbsp; 152460150 | &nbsp;&nbsp;&nbsp;&nbsp; 11190461 |
| Core MSCI International Developed Markets | &nbsp;&nbsp; 398054816 | &nbsp;&nbsp;&nbsp;&nbsp; 29782972 |
| Core MSCI Pacific | &nbsp;&nbsp; 53651599 | &nbsp;&nbsp;&nbsp;&nbsp; 3212997 |
| Core MSCI Total International Stock | &nbsp;&nbsp; 1081353892 | &nbsp;&nbsp;&nbsp;&nbsp; 83897543 |

---

2024 iShares Annual Financial Statements

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Regulation under the Alternative Investment Fund Managers Directive**

The Alternative Investment Fund Managers Directive, and its United Kingdom ("UK") equivalent, (the "AIFMD") impose detailed and prescriptive obligations on fund managers established in the European Union (the "EU") and the UK. These do not currently apply to managers established outside of the EU or UK, such as BFA (the "Company"). However, the Company is required to comply with certain disclosure, reporting and transparency obligations of the AIFMD because it has registered the iShares Core MSCI EAFE ETF (the "Fund") to be marketed to investors in the EU and/or UK.

**Report on Remuneration**

BlackRock has a clear and well-defined pay-for-performance philosophy, and compensation programs which support that philosophy.

BlackRock operates a total compensation model for remuneration which includes a base salary, which is contractual, and a discretionary bonus scheme. Although all employees are eligible to receive a discretionary bonus, there is no contractual obligation to make a discretionary bonus award to any employees. For senior management and staff who have the ability to materially affect the risk profile of the Fund, a significant percentage of variable remuneration is deferred over time. All employees are subject to a clawback policy.

Remuneration decisions for employees are made once annually in January following the end of the performance year, based on BlackRock's full-year financial results and other non-financial goals and objectives. Alongside financial performance, individual total compensation is also based on strategic and operating results and other considerations such as management and leadership capabilities. No set formulas are established and no fixed benchmarks are used in determining annual incentive awards.

Annual incentive awards are paid from a bonus pool which is reviewed throughout the year by BlackRock's independent compensation committee, taking into account both actual and projected financial information together with information provided by the Enterprise Risk and Regulatory Compliance departments in relation to any activities, incidents or events that warrant consideration in making compensation decisions. Individuals are not involved in setting their own remuneration.

Each of the control functions (Enterprise Risk, Legal & Compliance, Finance, Human Resources and Internal Audit) each have their own organizational structures which are independent of the business units and therefore staff members in control functions are remunerated independently of the businesses they oversee. Functional bonus pools for those control functions are determined with reference to the performance of each individual function and the remuneration of the senior members of control functions is directly overseen by BlackRock's independent remuneration committee.

The Company is required under the AIFMD to make quantitative disclosures of remuneration. These disclosures are made in line with BlackRock's interpretation of currently available regulatory guidance on quantitative remuneration disclosures. As market or regulatory practice develops BlackRock may consider it appropriate to make changes to the way in which quantitative remuneration disclosures are calculated. Where such changes are made, this may result in disclosures in relation to a fund not being comparable to the disclosures made in the prior year, or in relation to other BlackRock fund disclosures in that same year. BlackRock bases its proportionality approach on a combination of factors that it is entitled to take into account based on relevant guidelines.

Remuneration information at an individual AIF level is not readily available. Disclosures are provided in relation to (a) the staff of the Company; (b) staff who are senior management; (c) staff who have the ability to materially affect the risk profile of the Fund; and (d) staff of companies to which portfolio management and risk management has been formally delegated.

All individuals included in the aggregated figures disclosed are rewarded in line with BlackRock's remuneration policy for their responsibilities across the relevant BlackRock business area. As all individuals have a number of areas of responsibilities, only the portion of remuneration for those individuals' services attributable to the Fund is included in the aggregate figures disclosed.

Members of staff and senior management of the Company typically provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the Company and across the broader BlackRock group. Conversely, members of staff and senior management of the broader BlackRock group may provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the broader BlackRock group and of the Company. Therefore, the figures disclosed are a sum of individuals' portion of remuneration attributable to the Company according to an objective apportionment methodology which acknowledges the multiple-service nature of the Company and the broader BlackRock group. Accordingly, the figures are not representative of any individual's actual remuneration or their remuneration structure.

The amount of the total remuneration awarded to the Company's staff in respect of the Company's financial year ending December 31, 2023 was USD 5.43m. This figure is comprised of fixed remuneration of USD 0.74m and variable remuneration of USD 4.68m. There was a total of 8 beneficiaries of the remuneration described above.

The amount of the aggregate remuneration awarded by the Company in respect of the Company's financial year ending December 31, 2023, to its senior management was USD 3.66m, and to other members of its staff whose actions potentially have a material impact on the risk profile of the Company or its funds was USD 1.77m.

Additional Information

------

Additional Information (continued)

**Disclosures Under the EU Sustainable Finance Disclosure Regulation** 

The iShares Core MSCI EAFE ETF (the "Fund") is registered under the Alternative Investment Fund Managers Directive to be marketed to European Union ("EU") investors, as noted above. As a result, certain disclosures are required under the EU Sustainable Finance Disclosure Regulation ("SFDR").

The Fund has not been categorized under the SFDR as an "Article 8" or "Article 9" product. In addition, the Fund's investment strategy does not take into account the criteria for environmentally sustainable economic activities under the EU sustainable investment taxonomy regulation or principal adverse impacts ("PAIs") on sustainability factors under the SFDR. PAIs are identified under the SFDR as the material impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, and anti-corruption and anti-bribery matters.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of each Fund's portfolio securities is available in each Fund Prospectus. Each Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at **iShares.com**.

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract

**iShares Core MSCI EAFE ETF, iShares Core MSCI Europe ETF, iShares Core MSCI International Developed Markets ETF, iShares Core MSCI Total International Stock ETF (each the "Fund")** 

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares Core MSCI Pacific ETF (the "Fund")** 

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

Board Review and Approval of Investment Advisory Contract

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | American Depositary Receipt |
| CPO | Certificates of Participation (Ordinary) |
| GDR | Global Depositary Receipt |
| NVDR | Non-Voting Depositary Receipt |
| NVS | Non-Voting Shares |
| PJSC | Public Joint Stock Company |
| REIT | Real Estate Investment Trust |
| SDR | Swedish Depositary Receipt |

---

2024 iShares Annual Financial Statements

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc., nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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July 31, 2024

![](g40991img8a403cad1.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2024 Annual Financial Statements <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares Currency Hedged MSCI ACWI ex U.S. ETF \| HAWX \| NYSE Arca |
| • iShares Currency Hedged MSCI EAFE ETF \| HEFA \| Cboe BZX |
| • iShares Currency Hedged MSCI EAFE Small-Cap ETF \| HSCZ \| NYSE Arca |
| • iShares MSCI ACWI ex U.S. ETF \| ACWX \| NASDAQ |
| • iShares MSCI EAFE ETF \| EFA \| NYSE Arca |
| • iShares MSCI EAFE Small-Cap ETF \| SCZ \| NASDAQ |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 73 |
| [Statements of Operations](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 75 |
| [Statements of Changes in Net Assets](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 77 |
| [Financial Highlights](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_FS-Footer-iSharesReport_8)  | &nbsp;&nbsp; 80 |
| [Notes to Financial Statements](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 86 |
| [Report of Independent Registered Public Accounting Firm](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 98 |
| [Important Tax Information](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 99 |
| [Additional Information](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_SAI-Footer-iSharesReport-340_1)  | &nbsp;&nbsp; 100 |
| [Board Review and Approval of Investment Advisory Contract](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_15Cheader-Footer-iSharesReport-293_1)  | &nbsp;&nbsp; 102 |
| [Glossary of Terms Used in this Report](#xx_93cbbbc7-522a-411d-9509-412f7bd9faed_Abbreviations-Footer-iSharesReport-293_1)  | &nbsp;&nbsp; 113 |

---

------

Schedule of Investments

July 31, 2024

**iShares® Currency Hedged MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange-Traded Funds — 100.0%** | **Exchange-Traded Funds — 100.0%** | **Exchange-Traded Funds — 100.0%** |
| iShares MSCI ACWI ex U.S. ETF<sup>(a)(b)</sup> | &nbsp;&nbsp; 4230596 | $229636751 |
| **Total Investment Companies** <br>**(Cost: $199,868,402)** | **Total Investment Companies** <br>**(Cost: $199,868,402)** | 229636751 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 44.9%** | **Money Market Funds — 44.9%** | **Money Market Funds — 44.9%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, <br>5.45%<sup>(a)(c)(d)</sup><br>| &nbsp;&nbsp; 102803291 | 102844413 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, <br>5.29%<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 90000 | 90000 |
| **Total Short-Term Securities — 44.9%** <br>**(Cost: $102,934,222)** | **Total Short-Term Securities — 44.9%** <br>**(Cost: $102,934,222)** | 102934413 |
| **Total Investments in Securities — 144.9%** <br>**(Cost: $302,802,624)** | **Total Investments in Securities — 144.9%** <br>**(Cost: $302,802,624)** | 332571164 |
| **Liabilities in Excess of Other Assets — (44.9)%** | **Liabilities in Excess of Other Assets — (44.9)%** | (103013269)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $229557895 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Affiliate of the Fund.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Annualized 7-day yield as of period end.

<sup>(d)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, <br> SL Agency Shares<br>| $12677885 | $90159747 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $7857 | $(1076)<br>| $102844413 | 102803291 | $282029 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 70000 | 20000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 90000 | 90000 | 15874 | &nbsp;&nbsp; — |
| iShares MSCI ACWI ex U.S. ETF | 179887849 | 55968773 | &nbsp;&nbsp; (20146084)<br>| (218622)<br>| 14144835 | 229636751 | 4230596 | 5869832 | &nbsp;&nbsp; — |
|  |  |  |  | $(210765)<br>| $14143759 | $332571164 |  | $6167735 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| AUD | 16193000 | USD | 10574029 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $15383 |
| CAD | 23215000 | USD | 16805257 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9755 |
| CHF | 191000 | USD | 211837 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5764 |
| CHF | 52000 | USD | 58085 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1158 |
| CHF | 12549000 | USD | 14251142 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45639 |
| CNH | 18801000 | USD | 2601160 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1306 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI ACWI ex U.S. ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| CNH | 966000 | USD | 132621 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1094 |
| CNH | 286000 | USD | 39204 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385 |
| DKK | 608000 | USD | 87620 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 555 |
| DKK | 39963000 | USD | 5795183 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420 |
| DKK | 171000 | USD | 24598 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 |
| EUR | 9000 | USD | 9652 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88 |
| EUR | 1130000 | USD | 1212861 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10082 |
| EUR | 697000 | USD | 748966 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5363 |
| EUR | 45808000 | USD | 49568837 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6867 |
| GBP | 530000 | USD | 670105 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11236 |
| GBP | 17043000 | USD | 21890881 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18752 |
| GBP | 258000 | USD | 326830 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4842 |
| GBP | 57000 | USD | 72031 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1245 |
| JPY | 85973000 | USD | 534496 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39403 |
| JPY | 5220609000 | USD | 34697654 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151710 |
| NOK | 9105000 | USD | 832686 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1824 |
| NZD | 419000 | USD | 248865 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 503 |
| SEK | 49200000 | USD | 4590580 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3601 |
| SGD | 2272000 | USD | 1698565 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1144 |
| SGD | 170000 | USD | 125585 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1594 |
| THB | 486000 | USD | 13211 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 424 |
| THB | 1607000 | USD | 43828 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1256 |
| THB | 238000 | USD | 6490 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| TRY | 17768000 | USD | 536078 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 431 |
| TRY | 261000 | USD | 7768 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113 |
| TRY | 25000 | USD | 737 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
| USD | 10867428 | AUD | 16270000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227662 |
| USD | 77131 | AUD | 115000 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1926 |
| USD | 45942 | AUD | 68000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1473 |
| USD | 162283 | CAD | 222000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1484 |
| USD | 121088 | CAD | 166000 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 851 |
| USD | 17075181 | CAD | 23339000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170354 |
| USD | 96862 | CAD | 132000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1252 |
| USD | 71915 | CAD | 98000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932 |
| USD | 23866 | DKK | 164000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82 |
| USD | 31747 | DKK | 217000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277 |
| USD | 37706 | DKK | 258000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290 |
| USD | 210530 | EUR | 194000 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 574 |
| USD | 626139 | EUR | 574000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4927 |
| USD | 123372 | GBP | 95000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1245 |
| USD | 151475 | GBP | 117000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1065 |
| USD | 15813047 | HKD | 123372000 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22138 |
| USD | 167514 | HKD | 1308000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
| USD | 84186 | HKD | 657000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94 |
| USD | 509682 | ILS | 1924000 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742 |
| USD | 9073 | ILS | 33000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 |
| USD | 8429 | MXN | 149000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 432 |
| USD | 1479057 | MXN | 27209000 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18641 |
| USD | 6003 | MXN | 109000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153 |
| USD | 10158 | MXN | 183000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 |
| USD | 885670 | NOK | 9446000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19906 |
| USD | 5824 | NOK | 63000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| USD | 278069 | NZD | 456000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6681 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI ACWI ex U.S. ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 1223 | NZD | 2000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $33 |
| USD | 19778 | SEK | 207000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 448 |
| USD | 4643728 | SEK | 49113000 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57671 |
| USD | 37648 | SEK | 399000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390 |
| USD | 26237 | SEK | 276000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 464 |
| USD | 11181 | ZAR | 201000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 145 |
| ZAR | 102000 | USD | 5591 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| ZAR | 540000 | USD | 28955 | Deutsche Bank Securities Inc. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 695 |
| BRL | 238000 | USD | 41651 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 408 |
| CHF | 12548000 | USD | 14029948 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267383 |
| CLP | 343193000 | USD | 363552 | Citibank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 805 |
| CLP | 5123000 | USD | 5403 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| CLP | 8268000 | USD | 8762 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |
| CNH | 19741000 | USD | 2711966 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21828 |
| DKK | 38013000 | USD | 5473472 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40594 |
| EUR | 46876000 | USD | 50312264 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 428550 |
| GBP | 17604000 | USD | 22261552 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370130 |
| IDR | 16720490000 | USD | 1027815 | JPMorgan Chase Bank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 976 |
| IDR | 260562000 | USD | 15898 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
| JPY | 5151941000 | USD | 32227974 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2183347 |
| KRW | 175120000 | USD | 126491 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1104 |
| MYR | 74000 | USD | 15703 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 417 |
| SGD | 2381000 | USD | 1759499 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22108 |
| THB | 33987000 | USD | 926457 | Barclays Bank PLC | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27334 |
| TRY | 17343000 | USD | 510297 | Deutsche Bank Securities Inc. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11220 |
| USD | 10586128 | AUD | 15836000 | BNP Paribas SA | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229118 |
| USD | 12216 | BRL | 67000 | Citibank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376 |
| USD | 1476793 | BRL | 8236500 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21259 |
| USD | 1396803 | BRL | 7785500 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20969 |
| USD | 17069469 | CAD | 23339000 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162760 |
| USD | 1535 | CLP | 1439000 | Citibank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| USD | 5526 | CLP | 5127000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83 |
| USD | 15817341 | HKD | 123372000 | Citibank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24740 |
| USD | 13398 | IDR | 216543000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
| USD | 511457 | ILS | 1924000 | Barclays Bank PLC | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2309 |
| USD | 7045433 | INR | 587973500 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23420 |
| USD | 5787982 | INR | 482963500 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20076 |
| USD | 1480044 | MXN | 27209000 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20546 |
| USD | 875259 | NOK | 9311000 | Barclays Bank PLC | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21784 |
| USD | 274813 | NZD | 451000 | Citibank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6401 |
| USD | 4645529 | SEK | 49113000 | Barclays Bank PLC | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58603 |
| USD | 7084278 | TWD | 229913000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62135 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI ACWI ex U.S. ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 5820197 | TWD | 188760000 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $54974 |
| ZAR | 33992000 | USD | 1865680 | UBS AG | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 |
| CLP | 8004000 | USD | 8469 | State Street Bank & Trust Company | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 |
| CNH | 619000 | USD | 85883 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 |
| CNH | 181000 | USD | 25112 | UBS AG | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| DKK | 3267000 | USD | 474678 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| EUR | 903000 | USD | 978688 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132 |
| IDR | 230499000 | USD | 14174 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| JPY | 126019000 | USD | 841799 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3671 |
| JPY | 21433000 | USD | 143199 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 596 |
| USD | 2755169 | BRL | 15632000 | Citibank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799 |
| USD | 52178 | BRL | 296000 | State Street Bank & Trust Company | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
| USD | 47405 | DKK | 326000 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| USD | 50979 | EUR | 47000 | UBS AG | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| USD | 15082360 | HKD | 117705000 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1465 |
| USD | 489442 | ILS | 1837000 | Barclays Bank PLC | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2374 |
| USD | 21054 | ILS | 79000 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 |
| USD | 13016821 | INR | 1090535000 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5006 |
| USD | 8369710 | KRW | 11452693000 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1018 |
| USD | 10038 | MXN | 188000 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | 14990 | SEK | 160000 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 |
| USD | 113 | THB | 4000 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| USD | 907377 | THB | 32196000 | Citibank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1677 |
| USD | 516596 | TRY | 17768000 | Barclays Bank PLC | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386 |
| USD | 12638032 | TWD | 411785000 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1484 |
| USD | 1922945 | ZAR | 35075000 | Barclays Bank PLC | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2159 |
| USD | 46107 | ZAR | 841000 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
| USD | 6849 | ZAR | 125000 | State Street Bank & Trust Company | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5013504 |
| AUD | 15000 | USD | 10008 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (199)<br>|
| AUD | 245000 | USD | 163241 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3023)<br>|
| CAD | 742000 | USD | 542421 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4978)<br>|
| HKD | 3590000 | USD | 460241 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (742)<br>|
| HKD | 2261000 | USD | 289781 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (386)<br>|
| HKD | 117705000 | USD | 15067204 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1639)<br>|
| HKD | 1781000 | USD | 228112 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (154)<br>|
| ILS | 1837000 | USD | 488401 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2474)<br>|
| ILS | 78000 | USD | 20732 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (99)<br>|
| ILS | 14000 | USD | 3713 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| ILS | 28000 | USD | 7431 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24)<br>|
| MXN | 66000 | USD | 3587 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (45)<br>|
| MXN | 1528000 | USD | 83172 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1158)<br>|
| MXN | 394000 | USD | 21509 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (362)<br>|
| MXN | 25662000 | USD | 1377419 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (37)<br>|
| NOK | 140000 | USD | 13104 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (272)<br>|
| NOK | 264000 | USD | 24815 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (618)<br>|
| NZD | 5000 | USD | 3045 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (69)<br>|
| NZD | 6000 | USD | 3642 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71)<br>|
| NZD | 28000 | USD | 17062 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (398)<br>|
| SEK | 41000 | USD | 3877 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49)<br>|

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI ACWI ex U.S. ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| SEK | 754000 | USD | 71188 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(781)<br>|
| THB | 32196000 | USD | 904446 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1205)<br>|
| USD | 14023302 | CHF | 12548000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (272340)<br>|
| USD | 34628 | CHF | 31000 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (690)<br>|
| USD | 100432 | CHF | 89000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (963)<br>|
| USD | 138897 | CHF | 124000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2373)<br>|
| USD | 2711252 | CNH | 19741000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21331)<br>|
| USD | 28592 | CNH | 208000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (200)<br>|
| USD | 14316 | CNH | 104000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (80)<br>|
| USD | 5472214 | DKK | 38013000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40592)<br>|
| USD | 300872 | DKK | 2090000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2229)<br>|
| USD | 50302772 | EUR | 46876000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (428775)<br>|
| USD | 22260793 | GBP | 17604000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (370034)<br>|
| USD | 92285 | GBP | 72000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (274)<br>|
| USD | 142048 | JPY | 22755000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9850)<br>|
| USD | 239866 | JPY | 37684000 | Deutsche Bank Securities Inc. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11687)<br>|
| USD | 194062 | JPY | 30559000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9929)<br>|
| USD | 397501 | JPY | 63643000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27338)<br>|
| USD | 32208640 | JPY | 5151941000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2182342)<br>|
| USD | 1759173 | SGD | 2381000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22079)<br>|
| USD | 7424 | SGD | 10000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (57)<br>|
| USD | 21618 | SGD | 29000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (78)<br>|
| USD | 16248 | SGD | 22000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (210)<br>|
| USD | 934874 | THB | 34302000 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27449)<br>|
| USD | 6231 | THB | 225000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (81)<br>|
| USD | 15127 | TRY | 512000 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (333)<br>|
| USD | 2238 | TRY | 75000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27)<br>|
| USD | 512277 | TRY | 17343000 | Deutsche Bank Securities Inc. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11400)<br>|
| USD | 3695 | TRY | 124000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49)<br>|
| USD | 8343 | ZAR | 152000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| USD | 74968 | ZAR | 1372000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (365)<br>|
| USD | 1866235 | ZAR | 33992000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (176)<br>|
| ZAR | 35075000 | USD | 1928125 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2250)<br>|
| AUD | 15836000 | USD | 10577563 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (220553)<br>|
| BRL | 15632000 | USD | 2764768 | Citibank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2321)<br>|
| BRL | 219000 | USD | 39282 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (581)<br>|
| CAD | 23339000 | USD | 17076759 | JPMorgan Chase Bank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (170050)<br>|
| HKD | 123372000 | USD | 15814877 | Barclays Bank PLC | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22277)<br>|
| ILS | 1924000 | USD | 509785 | Barclays Bank PLC | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (636)<br>|
| INR | 1054834000 | USD | 12602858 | JPMorgan Chase Bank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5252)<br>|
| INR | 16103000 | USD | 192712 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (398)<br>|
| KRW | 11452693000 | USD | 8355666 | JPMorgan Chase Bank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11046)<br>|
| MXN | 27209000 | USD | 1478123 | Barclays Bank PLC | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18625)<br>|
| MYR | 4229000 | USD | 924372 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3121)<br>|
| NOK | 9311000 | USD | 873082 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19607)<br>|
| NZD | 451000 | USD | 275024 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6612)<br>|
| SEK | 49113000 | USD | 4644624 | Barclays Bank PLC | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (57698)<br>|
| TWD | 411785000 | USD | 12595124 | JPMorgan Chase Bank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18135)<br>|
| TWD | 6300000 | USD | 193220 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (801)<br>|
| TWD | 588000 | USD | 18097 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (138)<br>|

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI ACWI ex U.S. ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 14022556 | CHF | 12548000 | UBS AG | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(274776)<br>|
| USD | 185483 | CLP | 175009000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (318)<br>|
| USD | 185462 | CLP | 175009000 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (340)<br>|
| USD | 2710751 | CNH | 19741000 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23044)<br>|
| USD | 5473986 | DKK | 38013000 | Barclays Bank PLC | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40080)<br>|
| USD | 50319839 | EUR | 46876000 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (420975)<br>|
| USD | 22257899 | GBP | 17604000 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (373783)<br>|
| USD | 531039 | IDR | 8690986500 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3706)<br>|
| USD | 493487 | IDR | 8073522500 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3266)<br>|
| USD | 32197895 | JPY | 5151941000 | BNP Paribas SA | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2213426)<br>|
| USD | 4568218 | KRW | 6287342000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12842)<br>|
| USD | 3881778 | KRW | 5340471000 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9377)<br>|
| USD | 460045 | MYR | 2169500 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12561)<br>|
| USD | 452148 | MYR | 2133500 | State Street Bank & Trust Company | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12616)<br>|
| USD | 1759794 | SGD | 2381000 | Citibank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21813)<br>|
| USD | 926586 | THB | 33987000 | Bank of America N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27205)<br>|
| USD | 510186 | TRY | 17343000 | Citibank N.A. | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11332)<br>|
| USD | 1856688 | ZAR | 33992000 | Barclays Bank PLC | 08/06/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9124)<br>|
| AUD | 137000 | USD | 89799 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (128)<br>|
| BRL | 177000 | USD | 31297 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (109)<br>|
| CAD | 39000 | USD | 28304 | HSBC Bank PLC | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29)<br>|
| CLP | 2183000 | USD | 2320 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| GBP | 104000 | USD | 133781 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40)<br>|
| HKD | 4553000 | USD | 583430 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (79)<br>|
| HKD | 1875000 | USD | 240244 | UBS AG | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| ILS | 10000 | USD | 2663 | Barclays Bank PLC | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11)<br>|
| INR | 3809000 | USD | 45472 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25)<br>|
| KRW | 167551000 | USD | 122482 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (50)<br>|
| KRW | 134231000 | USD | 98232 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (147)<br>|
| MXN | 159000 | USD | 8527 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38)<br>|
| MYR | 45000 | USD | 9879 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (39)<br>|
| NOK | 46000 | USD | 4226 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| SGD | 7000 | USD | 5247 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| THB | 150000 | USD | 4231 | Barclays Bank PLC | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11)<br>|
| TRY | 285000 | USD | 8292 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|
| TRY | 116000 | USD | 3374 | Deutsche Bank Securities Inc. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| TWD | 15455000 | USD | 474502 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (230)<br>|
| TWD | 1423000 | USD | 43738 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71)<br>|
| USD | 220256 | AUD | 337000 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (321)<br>|
| USD | 10583680 | AUD | 16193000 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15179)<br>|
| USD | 485465 | CAD | 670000 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (292)<br>|

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI ACWI ex U.S. ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 16821172 | CAD | 23215000 | State Street Bank & Trust Company | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(9937)<br>|
| USD | 116304 | CHF | 102000 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (333)<br>|
| USD | 14338626 | CHF | 12575000 | State Street Bank & Trust Company | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40904)<br>|
| USD | 363471 | CLP | 343193000 | Citibank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (822)<br>|
| USD | 2592468 | CNH | 18687000 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1015)<br>|
| USD | 5806294 | DKK | 39963000 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (510)<br>|
| USD | 49647169 | EUR | 45808000 | State Street Bank & Trust Company | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7041)<br>|
| USD | 141335 | GBP | 110000 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (122)<br>|
| USD | 21898120 | GBP | 17043000 | Citibank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18668)<br>|
| USD | 1077144 | IDR | 17539131000 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1597)<br>|
| USD | 34872969 | JPY | 5220609000 | JPMorgan Chase Bank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (152443)<br>|
| USD | 1370138 | MXN | 25662000 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| USD | 941847 | MYR | 4310000 | State Street Bank & Trust Company | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (623)<br>|
| USD | 8146 | NOK | 89000 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18)<br>|
| USD | 833390 | NOK | 9105000 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1820)<br>|
| USD | 6534 | NZD | 11000 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| USD | 248874 | NZD | 419000 | UBS AG | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (510)<br>|
| USD | 13085 | SEK | 140000 | Bank of America N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| USD | 4598541 | SEK | 49200000 | BNP Paribas SA | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3580)<br>|
| USD | 1701452 | SGD | 2272000 | Citibank N.A. | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1155)<br>|
| USD | 32202 | SGD | 43000 | State Street Bank & Trust Company | 09/05/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7750803)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2737299)<br>|

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5013504 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5013504 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7750803 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7750803 |

---

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $9408527 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $9408527 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1077310)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1077310)<br>|

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI ACWI ex U.S. ETF**

**Derivative Financial Instruments Categorized by Risk Exposure (continued)**

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Forward foreign currency exchange contracts: |  |
| Average amounts purchased — in USD | &nbsp;&nbsp; $248208564 |
| Average amounts sold — in USD | &nbsp;&nbsp; $445473764 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Derivative Financial Instruments - Offsetting as of Period End**

The Fund's derivative assets and liabilities (by type) were as follows:

---

| | | |
|:---|:---|:---|
|  | *Assets* | *Liabilities* |
| **Derivative Financial Instruments:** |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $5013504 | &nbsp;&nbsp;&nbsp; $7750803 |
| Total derivative assets and liabilities in the Statement of Assets and Liabilities | &nbsp;&nbsp; 5013504 | &nbsp;&nbsp;&nbsp; 7750803 |
| Derivatives not subject to a Master Netting Agreement or similar agreement ("MNA") | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total derivative assets and liabilities subject to an MNA | &nbsp;&nbsp; $5013504 | &nbsp;&nbsp;&nbsp; $7750803 |

---

The following tables present the Fund's derivative assets and liabilities by counterparty net of amounts available for offset under an MNA and net of the related collateral received and pledged by the Fund:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Derivative* <br>*Assets* <br>*Subject to* <br>*an MNA by* <br>*Counterparty*<br>| *Derivatives* <br>*Available* <br>*for Offset*<sup>(a)</sup> <br>| *Non-Cash* <br>*Collateral* <br>*Received*<br>| *Cash* <br>*Collateral* <br>*Received*<br>| *Net Amount* <br>*of Derivative* <br>*Assets*<sup>(b)(c)</sup> <br>|
| Bank of America N.A. | &nbsp;&nbsp; $1432241 | &nbsp;&nbsp; $(1432241)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Barclays Bank PLC | &nbsp;&nbsp; 215668 | &nbsp;&nbsp; (182044)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 33624 |
| BNP Paribas SA | &nbsp;&nbsp; 278592 | &nbsp;&nbsp; (278592)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Citibank N.A. | &nbsp;&nbsp; 59828 | &nbsp;&nbsp; (58483)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1345 |
| Deutsche Bank Securities Inc. | &nbsp;&nbsp; 11915 | &nbsp;&nbsp; (11915)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 59036 | &nbsp;&nbsp; (13119)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 45917 |
| JPMorgan Chase Bank N.A. | &nbsp;&nbsp; 337151 | &nbsp;&nbsp; (337151)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 109074 | &nbsp;&nbsp; (31109)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 77965 |
| State Street Bank & Trust Company | &nbsp;&nbsp; 2507870 | &nbsp;&nbsp; (2507870)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 2129 | &nbsp;&nbsp; (2129)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $5013504 | &nbsp;&nbsp; $(4854653)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $158851 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Derivative* <br>*Liabilities* <br>*Subject to* <br>*an MNA by* <br>*Counterparty*<br>| *Derivatives* <br>*Available* <br>*for Offset*<sup>(a)</sup> <br>| *Non-Cash* <br>*Collateral* <br>*Pledged*<br>| *Cash* <br>*Collateral* <br>*Pledged*<br>| *Net Amount* <br>*of Derivative* <br>*Liabilities*<sup>(c)(d)</sup> <br>|
| Bank of America N.A. | &nbsp;&nbsp; $1464172 | &nbsp;&nbsp; $(1432241)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $31931 |
| Barclays Bank PLC | &nbsp;&nbsp; 182044 | &nbsp;&nbsp; (182044)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 2237969 | &nbsp;&nbsp; (278592)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1959377 |
| Citibank N.A. | &nbsp;&nbsp; 58483 | &nbsp;&nbsp; (58483)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Deutsche Bank Securities Inc. | &nbsp;&nbsp; 23091 | &nbsp;&nbsp; (11915)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 11176 |
| HSBC Bank PLC | &nbsp;&nbsp; 13119 | &nbsp;&nbsp; (13119)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| JPMorgan Chase Bank N.A. | &nbsp;&nbsp; 390661 | &nbsp;&nbsp; (337151)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 53510 |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 31109 | &nbsp;&nbsp; (31109)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| State Street Bank & Trust Company | &nbsp;&nbsp; 3071433 | &nbsp;&nbsp; (2507870)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 563563 |
| UBS AG | &nbsp;&nbsp; 278722 | &nbsp;&nbsp; (2129)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 276593 |
|  | &nbsp;&nbsp; $7750803 | &nbsp;&nbsp; $(4854653)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2896150 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The amount of derivatives available for offset is limited to the amount of derivative assets and/or liabilities that are subject to an MNA.

<sup>(b)</sup> Net amount represents the net amount receivable from the counterparty in the event of default.

<sup>(c)</sup> Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized.

<sup>(d)</sup> Net amount represents the net amount payable due to the counterparty in the event of default.

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI ACWI ex U.S. ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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  |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $229636751 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $229636751 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 102934413 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 102934413 |
|  | &nbsp;&nbsp; $332571164 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $332571164 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Foreign Currency Exchange Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5013504 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5013504 |
| Liabilities  |  |  |  |  |
| Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (7750803)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (7750803)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2737299)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2737299)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are forward foreign currency exchange contracts. Forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® Currency Hedged MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange-Traded Funds — 100.1%** | **Exchange-Traded Funds — 100.1%** | **Exchange-Traded Funds — 100.1%** |
| iShares MSCI EAFE ETF<sup>(a)(b)</sup> | &nbsp;&nbsp; 82947308 | $6665645671 |
| **Total Investment Companies** <br>**(Cost: $6,075,602,611)** | **Total Investment Companies** <br>**(Cost: $6,075,602,611)** | 6665645671 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 21.8%** | **Money Market Funds — 21.8%** | **Money Market Funds — 21.8%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, <br>5.45%<sup>(a)(c)(d)</sup><br>| &nbsp;&nbsp; 1446800407 | 1447379127 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, <br>5.29%<sup>(a)(c)</sup><br>| &nbsp;&nbsp; 2580000 | 2580000 |
| **Total Short-Term Securities — 21.8%** <br>**(Cost: $1,449,836,144)** | **Total Short-Term Securities — 21.8%** <br>**(Cost: $1,449,836,144)** | 1449959127 |
| **Total Investments in Securities — 121.9%** <br>**(Cost: $7,525,438,755)** | **Total Investments in Securities — 121.9%** <br>**(Cost: $7,525,438,755)** | 8115604798 |
| **Liabilities in Excess of Other Assets — (21.9)%** | **Liabilities in Excess of Other Assets — (21.9)%** | (1455436584)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $6660168214 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Affiliate of the Fund.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Annualized 7-day yield as of period end.

<sup>(d)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash <br> Funds: Institutional, <br> SL Agency Shares<br>| $813520005 | $633986626 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(170599)<br>| $43095 | $1447379127 | 1446800407 | $4232466 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash <br> Funds: Treasury, SL <br> Agency Shares<br>| 1130000 | 1450000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 2580000 | 2580000 | 253059 | &nbsp;&nbsp; — |
| iShares MSCI EAFE <br> ETF<br>| 3545298008 | 4102825278 | &nbsp;&nbsp; (1387701398)<br>| 152421489 | 252802294 | 6665645671 | 82947308 | 156673709 | &nbsp;&nbsp; — |
|  |  |  |  | $152250890 | $252845389 | $8115604798 |  | $161159234 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| AUD | 741492000 | USD | 484194276 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $704385 |
| CHF | 9740000 | USD | 10803952 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292602 |
| CHF | 757000 | USD | 854170 | Nomura Securities International Inc. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8262 |
| CHF | 574617000 | USD | 652788412 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1859266 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| DKK | 1862680000 | USD | 270086112 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $47601 |
| DKK | 8454000 | USD | 1216083 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9952 |
| EUR | 39441000 | USD | 42333130 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 351889 |
| EUR | 1659000 | USD | 1779198 | Commonwealth Bank of Australia | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16255 |
| EUR | 34704000 | USD | 37299727 | Imperial Bank of Canada | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258674 |
| EUR | 2047193000 | USD | 2215267545 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 306897 |
| GBP | 800101000 | USD | 1027297578 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1272491 |
| GBP | 3104000 | USD | 3922556 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67792 |
| GBP | 13169000 | USD | 16683069 | Societe Generale | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 246343 |
| JPY | 243711672000 | USD | 1617774254 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9085143 |
| NOK | 417029000 | USD | 38138827 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83544 |
| NZD | 19195000 | USD | 11400870 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23032 |
| SEK | 2252999000 | USD | 210214880 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164887 |
| SGD | 104000000 | USD | 77751196 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52350 |
| SGD | 5616000 | USD | 4150075 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51317 |
| SGD | 1755000 | USD | 1294841 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18094 |
| SGD | 137000 | USD | 102012 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 479 |
| USD | 13097333 | AUD | 19596000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282530 |
| USD | 480956777 | AUD | 719555000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10403817 |
| USD | 6614235 | AUD | 9969000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95008 |
| USD | 131428 | AUD | 195000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3908 |
| USD | 149386 | AUD | 220000 | Natwest Markets PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5517 |
| USD | 3820854 | AUD | 5667000 | Nomura Securities International Inc. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114920 |
| USD | 526216 | AUD | 782000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14827 |
| USD | 983543 | DKK | 6759000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3324 |
| USD | 3995869 | DKK | 27522000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4512 |
| USD | 70184 | DKK | 483000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137 |
| USD | 632333 | DKK | 4345000 | Natwest Markets PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2202 |
| USD | 640559 | DKK | 4388000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4192 |
| USD | 2362745 | EUR | 2159000 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26167 |
| USD | 2928114 | EUR | 2698000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8204 |
| USD | 17526969 | EUR | 16192000 | Commonwealth Bank of Australia | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3178 |
| USD | 15791218 | EUR | 14569000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23919 |
| USD | 585157 | EUR | 540000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742 |
| USD | 10539660 | EUR | 9712000 | Natwest Markets PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28849 |
| USD | 2336148 | EUR | 2158000 | Nomura Securities International Inc. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 |
| USD | 662547 | EUR | 607000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5622 |
| USD | 531682 | GBP | 412000 | Commonwealth Bank of Australia | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 |
| USD | 7942938 | GBP | 6174000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5951 |
| USD | 297470 | GBP | 229000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3079 |
| USD | 1070625 | GBP | 823000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12617 |
| USD | 122213419 | HKD | 953338000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 191622 |
| USD | 891450 | HKD | 6960000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 610 |
| USD | 984226 | HKD | 7686000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 462 |
| USD | 802361 | HKD | 6264000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 605 |
| USD | 12118 | ILS | 44000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 479 |
| USD | 23202984 | ILS | 87299000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110454 |
| USD | 7234 | ILS | 26000 | Commonwealth Bank of Australia | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 357 |
| USD | 139511 | ILS | 510000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4605 |
| USD | 72801 | ILS | 266000 | Imperial Bank of Canada | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2438 |
| USD | 126373 | ILS | 465000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3370 |
| USD | 184400 | ILS | 687000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2673 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 156446 | NOK | 1649000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5309 |
| USD | 234006 | NOK | 2489000 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5879 |
| USD | 39723237 | NOK | 422616000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 988796 |
| USD | 82526 | NOK | 880000 | Natwest Markets PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1871 |
| USD | 11386 | NOK | 122000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204 |
| USD | 287500 | NOK | 3078000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5389 |
| USD | 18441 | NZD | 30000 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586 |
| USD | 83319 | NZD | 137000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1783 |
| USD | 12453163 | NZD | 20437000 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290085 |
| USD | 52673 | NZD | 86000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1490 |
| USD | 31143 | NZD | 51000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 790 |
| USD | 174801 | SEK | 1849000 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2146 |
| USD | 989486 | SEK | 10463000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12476 |
| USD | 210820081 | SEK | 2229201000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2662516 |
| USD | 3227250 | SEK | 33921000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59787 |
| DKK | 158984000 | USD | 23096910 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1426 |
| EUR | 50372000 | USD | 54589245 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7048 |
| JPY | 1260420000 | USD | 8418790 | Commonwealth Bank of Australia | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34975 |
| JPY | 6662183000 | USD | 44489901 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194036 |
| SEK | 3989000 | USD | 372801 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 |
| USD | 1864260 | DKK | 12822000 | HSBC Bank PLC | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1387 |
| USD | 458765 | EUR | 423000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 292 |
| USD | 112796848 | HKD | 880323000 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12009 |
| USD | 885226 | ILS | 3322000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4525 |
| USD | 22389257 | ILS | 84028000 | Citibank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112469 |
| USD | 2979 | NZD | 5000 | Toronto Dominion Bank | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | 426047 | SEK | 4548000 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 676 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30703082 |
| AUD | 12515000 | USD | 8338757 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (154573)<br>|
| AUD | 1977000 | USD | 1322462 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29603)<br>|
| DKK | 2415000 | USD | 352939 | Natwest Markets PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2705)<br>|
| EUR | 2699000 | USD | 2942762 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21769)<br>|
| GBP | 1029000 | USD | 1332172 | Nomura Securities International Inc. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9341)<br>|
| HKD | 65384000 | USD | 8382288 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13511)<br>|
| HKD | 13695000 | USD | 1755131 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2250)<br>|
| HKD | 880323000 | USD | 112688556 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12260)<br>|
| HKD | 14846000 | USD | 1901482 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1279)<br>|
| ILS | 3065000 | USD | 814660 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3899)<br>|
| ILS | 84685000 | USD | 22514670 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (113601)<br>|
| ILS | 111000 | USD | 30430 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1068)<br>|
| ILS | 1436000 | USD | 381106 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1252)<br>|
| NOK | 550000 | USD | 50841 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (431)<br>|
| NOK | 9644000 | USD | 906494 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22583)<br>|
| NOK | 7129000 | USD | 667298 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13897)<br>|
| NZD | 220000 | USD | 133980 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3047)<br>|
| NZD | 25000 | USD | 15119 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (241)<br>|
| NZD | 1453000 | USD | 884624 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19872)<br>|
| SEK | 2970000 | USD | 280159 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2827)<br>|
| SEK | 38473000 | USD | 3632559 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40041)<br>|
| USD | 5994443 | CHF | 5319000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (65369)<br>|
| USD | 4069254 | CHF | 3635000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (72016)<br>|
| USD | 4725553 | CHF | 4240000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (104980)<br>|

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 636186540 | CHF | 569546000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(12683867)<br>|
| USD | 701004 | CHF | 626000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12183)<br>|
| USD | 1962703 | CHF | 1748000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28752)<br>|
| USD | 248439472 | DKK | 1725632000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1818961)<br>|
| USD | 15032067 | DKK | 104420000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (111362)<br>|
| USD | 2229336573 | EUR | 2077061000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18562509)<br>|
| USD | 5010272 | GBP | 3909000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14944)<br>|
| USD | 7136628 | GBP | 5555000 | Nomura Securities International Inc. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4604)<br>|
| USD | 1010023928 | GBP | 798861000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16952059)<br>|
| USD | 1843532 | GBP | 1440000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7661)<br>|
| USD | 393000 | JPY | 62972000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27360)<br>|
| USD | 1461877705 | JPY | 234052054000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (100500413)<br>|
| USD | 4687077 | JPY | 755669000 | Commonwealth Bank of Australia | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (357274)<br>|
| USD | 12276249 | JPY | 1889762000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (338564)<br>|
| USD | 35069019 | JPY | 5617793000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2431685)<br>|
| USD | 6753923 | JPY | 1081454000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (465155)<br>|
| USD | 1616395 | JPY | 251968000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (65578)<br>|
| USD | 19970 | NOK | 220000 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (194)<br>|
| USD | 299851 | NOK | 3298000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2423)<br>|
| USD | 89321 | NZD | 152000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1142)<br>|
| USD | 1645219 | SEK | 17820000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18771)<br>|
| USD | 110363 | SEK | 1188000 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (569)<br>|
| USD | 80493970 | SGD | 108923000 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (992527)<br>|
| USD | 20022 | SGD | 27000 | HSBC Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (177)<br>|
| USD | 40885 | SGD | 55000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (261)<br>|
| USD | 1224187 | SGD | 1653000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12441)<br>|
| USD | 81535 | SGD | 110000 | Toronto Dominion Bank | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (758)<br>|
| USD | 549113 | SGD | 740000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4490)<br>|
| AUD | 7143000 | USD | 4681887 | Natwest Markets PLC | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6772)<br>|
| GBP | 5684000 | USD | 7311648 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2301)<br>|
| HKD | 3617000 | USD | 463471 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (70)<br>|
| HKD | 14612000 | USD | 1872111 | UBS AG | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (57)<br>|
| ILS | 567000 | USD | 150990 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (671)<br>|
| NOK | 2583000 | USD | 237277 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (347)<br>|
| SGD | 449000 | USD | 336525 | &nbsp;&nbsp; Morgan Stanley & Co. International <br> PLC<br>| 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (82)<br>|
| USD | 484603580 | AUD | 741492000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (705126)<br>|
| USD | 7788230 | AUD | 11917000 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11482)<br>|
| USD | 2387095 | CHF | 2094000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6823)<br>|
| USD | 544449 | CHF | 477000 | State Street Bank & Trust Company | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (871)<br>|
| USD | 655278508 | CHF | 574617000 | UBS AG | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1639289)<br>|
| USD | 266096315 | DKK | 1831666000 | HSBC Bank PLC | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21263)<br>|
| USD | 2218573762 | EUR | 2047193000 | State Street Bank & Trust Company | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (300755)<br>|
| USD | 1004501084 | GBP | 781806000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (863347)<br>|
| USD | 1595544336 | JPY | 238928935000 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6976293)<br>|
| USD | 38352906 | NOK | 419036000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (83994)<br>|
| USD | 232835 | NZD | 392000 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (479)<br>|
| USD | 11401542 | NZD | 19195000 | UBS AG | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23109)<br>|
| USD | 210555439 | SEK | 2252999000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (166052)<br>|
| USD | 1139669 | SGD | 1522000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (791)<br>|

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 77876080 | SGD | 104000000 | Citibank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(52810)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (166991883)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(136288801)<br>|

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on forward foreign currency exchange con-<br> tracts<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $30703082 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $30703082 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on forward foreign currency exchange con-<br> tracts<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $166991883 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $166991883 |

---

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $291017905 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $291017905 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(100503115)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(100503115)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Forward foreign currency exchange contracts: |  |
| Average amounts purchased — in USD | &nbsp;&nbsp; $5305272681 |
| Average amounts sold — in USD | &nbsp;&nbsp; $10476020299 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Derivative Financial Instruments - Offsetting as of Period End**

The Fund's derivative assets and liabilities (by type) were as follows:

---

| | | |
|:---|:---|:---|
|  | *Assets* | *Liabilities* |
| **Derivative Financial Instruments:** |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $30703082 | &nbsp;&nbsp;&nbsp; $166991883 |
| Total derivative assets and liabilities in the Statement of Assets and Liabilities | &nbsp;&nbsp; 30703082 | &nbsp;&nbsp;&nbsp; 166991883 |
| Derivatives not subject to a Master Netting Agreement or similar agreement ("MNA") | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total derivative assets and liabilities subject to an MNA | &nbsp;&nbsp; $30703082 | &nbsp;&nbsp;&nbsp; $166991883 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE ETF**

**Derivative Financial Instruments - Offsetting as of Period End (continued)**

The following tables present the Fund's derivative assets and liabilities by counterparty net of amounts available for offset under an MNA and net of the related collateral received and pledged by the Fund:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Derivative* <br>*Assets* <br>*Subject to* <br>*an MNA by* <br>*Counterparty*<br>| *Derivatives* <br>*Available* <br>*for Offset*<sup>(a)</sup> <br>| *Non-Cash* <br>*Collateral* <br>*Received*<br>| *Cash* <br>*Collateral* <br>*Received*<br>| *Net Amount* <br>*of Derivative* <br>*Assets*<sup>(b)(c)</sup> <br>|
| Bank of America N.A. | &nbsp;&nbsp; $292318 | &nbsp;&nbsp; $(44265)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $248053 |
| Bank of New York | &nbsp;&nbsp; 327380 | &nbsp;&nbsp; (25221)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 302159 |
| BNP Paribas SA | &nbsp;&nbsp; 14295451 | &nbsp;&nbsp; (14295451)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Citibank N.A. | &nbsp;&nbsp; 454904 | &nbsp;&nbsp; (454904)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 56801 | &nbsp;&nbsp; (56801)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 185083 | &nbsp;&nbsp; (185083)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Imperial Bank of Canada | &nbsp;&nbsp; 261112 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 261112 |
| JPMorgan Chase Bank N.A. | &nbsp;&nbsp; 9437512 | &nbsp;&nbsp; (9437512)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 18094 | &nbsp;&nbsp; (82)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 18012 |
| Natwest Markets PLC | &nbsp;&nbsp; 38439 | &nbsp;&nbsp; (9477)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 28962 |
| Nomura Securities International Inc. | &nbsp;&nbsp; 123835 | &nbsp;&nbsp; (13945)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 109890 |
| Societe Generale | &nbsp;&nbsp; 246343 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 246343 |
| State Street Bank & Trust Company | &nbsp;&nbsp; 2973449 | &nbsp;&nbsp; (2973449)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Toronto Dominion Bank | &nbsp;&nbsp; 93689 | &nbsp;&nbsp; (93689)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 1898672 | &nbsp;&nbsp; (1762527)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 136145 |
|  | &nbsp;&nbsp; $30703082 | &nbsp;&nbsp; $(29352406)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1350676 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Derivative* <br>*Liabilities* <br>*Subject to* <br>*an MNA by* <br>*Counterparty*<br>| *Derivatives* <br>*Available* <br>*for Offset*<sup>(a)</sup> <br>| *Non-Cash* <br>*Collateral* <br>*Pledged*<br>| *Cash* <br>*Collateral* <br>*Pledged*<br>| *Net Amount* <br>*of Derivative* <br>*Liabilities*<sup>(c)(d)</sup> <br>|
| Bank of America N.A. | &nbsp;&nbsp; $44265 | &nbsp;&nbsp; $(44265)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Bank of New York | &nbsp;&nbsp; 25221 | &nbsp;&nbsp; (25221)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 102440140 | &nbsp;&nbsp; (14295451)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 88144689 |
| Citibank N.A. | &nbsp;&nbsp; 1159507 | &nbsp;&nbsp; (454904)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 704603 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 357274 | &nbsp;&nbsp; (56801)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 300473 |
| HSBC Bank PLC | &nbsp;&nbsp; 2270626 | &nbsp;&nbsp; (185083)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2085543 |
| JPMorgan Chase Bank N.A. | &nbsp;&nbsp; 9803445 | &nbsp;&nbsp; (9437512)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 365933 |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 82 | &nbsp;&nbsp; (82)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Natwest Markets PLC | &nbsp;&nbsp; 9477 | &nbsp;&nbsp; (9477)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Nomura Securities International Inc. | &nbsp;&nbsp; 13945 | &nbsp;&nbsp; (13945)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| State Street Bank & Trust Company | &nbsp;&nbsp; 48566440 | &nbsp;&nbsp; (2973449)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 45592991 |
| Toronto Dominion Bank | &nbsp;&nbsp; 538934 | &nbsp;&nbsp; (93689)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 445245 |
| UBS AG | &nbsp;&nbsp; 1762527 | &nbsp;&nbsp; (1762527)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $166991883 | &nbsp;&nbsp; $(29352406)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $137639477 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The amount of derivatives available for offset is limited to the amount of derivative assets and/or liabilities that are subject to an MNA.

<sup>(b)</sup> Net amount represents the net amount receivable from the counterparty in the event of default.

<sup>(c)</sup> Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized.

<sup>(d)</sup> Net amount represents the net amount payable due to the counterparty in the event of default.

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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  |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $6665645671 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6665645671 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1449959127 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1449959127 |
|  | &nbsp;&nbsp; $8115604798 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $8115604798 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Foreign Currency Exchange Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $30703082 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $30703082 |
| Liabilities  |  |  |  |  |
| Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (166991883)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (166991883)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(136288801)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(136288801)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are forward foreign currency exchange contracts. Forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® Currency Hedged MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange-Traded Funds — 100.1%** | **Exchange-Traded Funds — 100.1%** | **Exchange-Traded Funds — 100.1%** |
| iShares MSCI EAFE Small-Cap ETF<sup>(a)</sup> | &nbsp;&nbsp; 2331611 | $151065077 |
| **Total Investment Companies** <br>**(Cost: $140,213,492)** | **Total Investment Companies** <br>**(Cost: $140,213,492)** | 151065077 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br>5.29%<sup>(a)(b)</sup><br>| &nbsp;&nbsp; 70000 | 70000 |
| **Total Short-Term Securities — 0.1%** <br>**(Cost: $70,000)** | **Total Short-Term Securities — 0.1%** <br>**(Cost: $70,000)** | 70000 |
| **Total Investments in Securities — 100.2%** <br>**(Cost: $140,283,492)** | **Total Investments in Securities — 100.2%** <br>**(Cost: $140,283,492)** | 151135077 |
| **Liabilities in Excess of Other Assets — (0.2)%** | **Liabilities in Excess of Other Assets — (0.2)%** | (229754)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $150905323 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Affiliate of the Fund. <br> <sup>(b)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<sup>(a)</sup><br>| $— | $0 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $— |  | $119 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 40000 | 30000 <br><sup>(b)</sup><br>| &nbsp;&nbsp; — |  |  | 70000 | 70000 | 5602 | &nbsp;&nbsp; — |
| iShares MSCI EAFE Small-Cap ETF | 97000997 | 61767747 | &nbsp;&nbsp; (16649138)<br>| (1046031)<br>| 9991502 | 151065077 | 2331611 | 3391354 | &nbsp;&nbsp; — |
|  |  |  |  | $(1046031)<br>| $9991502 | $151135077 |  | $3397075 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> As of period end, the entity is no longer held.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| AUD | 20713000 | USD | 13525589 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $19676 |
| CHF | 74000 | USD | 82080 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2226 |
| CHF | 316000 | USD | 352976 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7036 |
| CHF | 5700000 | USD | 6475424 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18452 |
| DKK | 327000 | USD | 47124 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299 |
| DKK | 24334000 | USD | 3528763 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256 |
| EUR | 2804000 | USD | 3009612 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25017 |
| EUR | 327000 | USD | 351462 | Morgan Stanley & Co. International PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2433 |
| EUR | 25003000 | USD | 27055746 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3748 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE Small-Cap ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| GBP | 18371000 | USD | 23585154 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $31690 |
| GBP | 230000 | USD | 291365 | Morgan Stanley & Co. International PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4311 |
| JPY | 105797000 | USD | 657523 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48708 |
| JPY | 8117411000 | USD | 53950105 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 236411 |
| NOK | 41481000 | USD | 3793589 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8310 |
| NZD | 1754000 | USD | 1041788 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2105 |
| SEK | 90045000 | USD | 8401601 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6590 |
| SGD | 4312000 | USD | 3223684 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2171 |
| SGD | 79000 | USD | 58303 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 798 |
| SGD | 1000 | USD | 744 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | 14060504 | AUD | 21036000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304013 |
| USD | 148909 | AUD | 222000 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3732 |
| USD | 148975 | AUD | 222000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3799 |
| USD | 27355 | AUD | 41000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 543 |
| USD | 60945 | DKK | 417000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 470 |
| USD | 467758 | EUR | 429000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3473 |
| USD | 394866 | GBP | 305000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2773 |
| USD | 2271843 | HKD | 17722000 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3528 |
| USD | 48414 | HKD | 378000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| USD | 3630670 | ILS | 13660000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17295 |
| USD | 63060 | ILS | 230000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2220 |
| USD | 112291 | NOK | 1208000 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1574 |
| USD | 3948111 | NOK | 42004000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98277 |
| USD | 16879 | NOK | 178000 | Morgan Stanley & Co. International PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 565 |
| USD | 18144 | NZD | 30000 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289 |
| USD | 841512 | NZD | 1381000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19610 |
| USD | 223639 | NZD | 367000 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5219 |
| USD | 119434 | SEK | 1265000 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1312 |
| USD | 9178102 | SEK | 97050000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115800 |
| USD | 90931 | SEK | 964000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 915 |
| USD | 36836 | SEK | 386000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 792 |
| AUD | 374000 | USD | 244432 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 |
| EUR | 124000 | USD | 134381 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
| JPY | 116019000 | USD | 774770 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3381 |
| JPY | 80614000 | USD | 538442 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2245 |
| USD | 42456 | DKK | 292000 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| USD | 22776 | EUR | 21000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| USD | 56598 | GBP | 44000 | Barclays Bank PLC | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| USD | 2259722 | HKD | 17636000 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 |
| USD | 3579430 | ILS | 13437000 | Barclays Bank PLC | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17127 |
| USD | 29312 | ILS | 110000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1030050 |
| AUD | 808000 | USD | 539511 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11119)<br>|
| DKK | 5000 | USD | 730 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| EUR | 6000 | USD | 6536 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (42)<br>|
| GBP | 4000 | USD | 5169 | Morgan Stanley & Co. International PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27)<br>|
| HKD | 136000 | USD | 17435 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28)<br>|
| HKD | 94000 | USD | 12048 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16)<br>|
| HKD | 4000 | USD | 512 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| HKD | 17636000 | USD | 2257553 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (246)<br>|
| HKD | 230000 | USD | 29459 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| ILS | 13437000 | USD | 3572483 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18097)<br>|

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE Small-Cap ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| ILS | 237000 | USD | 62993 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(301)<br>|
| ILS | 39000 | USD | 10342 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26)<br>|
| ILS | 3000 | USD | 822 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29)<br>|
| ILS | 174000 | USD | 46179 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (152)<br>|
| NOK | 550000 | USD | 51464 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1055)<br>|
| NOK | 1359000 | USD | 127740 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3182)<br>|
| NZD | 24000 | USD | 14570 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (286)<br>|
| SEK | 8419000 | USD | 796190 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10043)<br>|
| SEK | 1180000 | USD | 111413 | Morgan Stanley & Co. International PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1228)<br>|
| SEK | 21000 | USD | 1967 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| USD | 54734 | CHF | 49000 | Barclays Bank PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1091)<br>|
| USD | 137309 | CHF | 122000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1683)<br>|
| USD | 6611435 | CHF | 5919000 | UBS AG | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (131942)<br>|
| USD | 3414810 | DKK | 23719000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25019)<br>|
| USD | 22977 | DKK | 159000 | Deutsche Bank Securities Inc. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (82)<br>|
| USD | 53408 | DKK | 371000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (396)<br>|
| USD | 104028 | EUR | 97000 | Bank of America N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (950)<br>|
| USD | 115585 | EUR | 107000 | Morgan Stanley & Co. International PLC | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (216)<br>|
| USD | 29523621 | EUR | 27507000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (245828)<br>|
| USD | 193346 | GBP | 153000 | Bank of New York | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3343)<br>|
| USD | 96882 | GBP | 76000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (820)<br>|
| USD | 22847707 | GBP | 18071000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (383472)<br>|
| USD | 47725264 | JPY | 7640990000 | BNP Paribas SA | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3280977)<br>|
| USD | 2766938 | JPY | 443162000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (191321)<br>|
| USD | 885124 | JPY | 139056000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (43123)<br>|
| USD | 2661721 | SGD | 3602000 | Citibank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32975)<br>|
| USD | 563361 | SGD | 762000 | JPMorgan Chase Bank N.A. | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6699)<br>|
| USD | 20849 | SGD | 28000 | State Street Bank & Trust Company | 08/02/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (98)<br>|
| AUD | 241000 | USD | 157959 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (224)<br>|
| HKD | 1415000 | USD | 181311 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25)<br>|
| HKD | 439000 | USD | 56245 | UBS AG | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| ILS | 215000 | USD | 57247 | Barclays Bank PLC | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (248)<br>|
| NOK | 367000 | USD | 33713 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49)<br>|
| NZD | 8000 | USD | 4766 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| SEK | 342000 | USD | 32040 | Morgan Stanley & Co. International PLC | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (53)<br>|
| SGD | 31000 | USD | 23234 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| USD | 13537023 | AUD | 20713000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19697)<br>|
| USD | 83218 | CHF | 73000 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (238)<br>|
| USD | 12555 | CHF | 11000 | State Street Bank & Trust Company | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| USD | 6498994 | CHF | 5699000 | UBS AG | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16258)<br>|
| USD | 31380 | DKK | 216000 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 3535142 | DKK | 24334000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (276)<br>|
| USD | 27096126 | EUR | 25003000 | State Street Bank & Trust Company | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3673)<br>|
| USD | 23612914 | GBP | 18378000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20299)<br>|
| USD | 54195005 | JPY | 8115572000 | JPMorgan Chase Bank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (236960)<br>|
| USD | 29014 | NOK | 317000 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (64)<br>|
| USD | 3796612 | NOK | 41481000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8314)<br>|
| USD | 14849 | NZD | 25000 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30)<br>|
| USD | 1041850 | NZD | 1754000 | UBS AG | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2112)<br>|
| USD | 392044 | SEK | 4195000 | Bank of America N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (311)<br>|
| USD | 8415212 | SEK | 90045000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6637)<br>|
| USD | 107827 | SGD | 144000 | BNP Paribas SA | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (75)<br>|

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE Small-Cap ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 3228850 | SGD | 4312000 | Citibank N.A. | 09/03/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2202)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4713722)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(3683672)<br>|

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1030050 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1030050 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4713722 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4713722 |

---

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7976633 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7976633 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2599968)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2599968)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Forward foreign currency exchange contracts: |  |
| Average amounts purchased — in USD | &nbsp;&nbsp; $124751748 |
| Average amounts sold — in USD | &nbsp;&nbsp; $245995265 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Derivative Financial Instruments - Offsetting as of Period End**

The Fund's derivative assets and liabilities (by type) were as follows:

---

| | | |
|:---|:---|:---|
|  | *Assets* | *Liabilities* |
| **Derivative Financial Instruments:** |  |  |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; $1030050 | &nbsp;&nbsp;&nbsp; $4713722 |
| Total derivative assets and liabilities in the Statement of Assets and Liabilities | &nbsp;&nbsp; 1030050 | &nbsp;&nbsp;&nbsp; 4713722 |
| Derivatives not subject to a Master Netting Agreement or similar agreement ("MNA") | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total derivative assets and liabilities subject to an MNA | &nbsp;&nbsp; $1030050 | &nbsp;&nbsp;&nbsp; $4713722 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE Small-Cap ETF**

**Derivative Financial Instruments - Offsetting as of Period End (continued)**

The following tables present the Fund's derivative assets and liabilities by counterparty net of amounts available for offset under an MNA and net of the related collateral received and pledged by the Fund:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Derivative* <br>*Assets* <br>*Subject to* <br>*an MNA by* <br>*Counterparty*<br>| *Derivatives* <br>*Available* <br>*for Offset*<sup>(a)</sup> <br>| *Non-Cash* <br>*Collateral* <br>*Received*<br>| *Cash* <br>*Collateral* <br>*Received*<br>| *Net Amount* <br>*of Derivative* <br>*Assets*<sup>(b)(c)</sup> <br>|
| Bank of America N.A. | &nbsp;&nbsp; $52406 | &nbsp;&nbsp; $(14157)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $38249 |
| Bank of New York | &nbsp;&nbsp; 3175 | &nbsp;&nbsp; (3175)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Barclays Bank PLC | &nbsp;&nbsp; 19370 | &nbsp;&nbsp; (19370)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 647051 | &nbsp;&nbsp; (647051)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Citibank N.A. | &nbsp;&nbsp; 14650 | &nbsp;&nbsp; (14650)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| JPMorgan Chase Bank N.A. | &nbsp;&nbsp; 257278 | &nbsp;&nbsp; (257278)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 7309 | &nbsp;&nbsp; (1524)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 5785 |
| State Street Bank & Trust Company | &nbsp;&nbsp; 7458 | &nbsp;&nbsp; (7458)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 21353 | &nbsp;&nbsp; (21353)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $1030050 | &nbsp;&nbsp; $(986016)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $44034 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Counterparty* | *Derivative* <br>*Liabilities* <br>*Subject to* <br>*an MNA by* <br>*Counterparty*<br>| *Derivatives* <br>*Available* <br>*for Offset*<sup>(a)</sup> <br>| *Non-Cash* <br>*Collateral* <br>*Pledged*<br>| *Cash* <br>*Collateral* <br>*Pledged*<br>| *Net Amount* <br>*of Derivative* <br>*Liabilities*<sup>(c)(d)</sup> <br>|
| Bank of America N.A. | &nbsp;&nbsp; $14157 | &nbsp;&nbsp; $(14157)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Bank of New York | &nbsp;&nbsp; 3343 | &nbsp;&nbsp; (3175)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 168 |
| Barclays Bank PLC | &nbsp;&nbsp; 19452 | &nbsp;&nbsp; (19370)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 82 |
| BNP Paribas SA | &nbsp;&nbsp; 3374820 | &nbsp;&nbsp; (647051)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2727769 |
| Citibank N.A. | &nbsp;&nbsp; 35203 | &nbsp;&nbsp; (14650)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 20553 |
| Deutsche Bank Securities Inc. | &nbsp;&nbsp; 82 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 82 |
| JPMorgan Chase Bank N.A. | &nbsp;&nbsp; 438359 | &nbsp;&nbsp; (257278)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 181081 |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 1524 | &nbsp;&nbsp; (1524)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| State Street Bank & Trust Company | &nbsp;&nbsp; 676249 | &nbsp;&nbsp; (7458)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 668791 |
| UBS AG | &nbsp;&nbsp; 150533 | &nbsp;&nbsp; (21353)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 129180 |
|  | &nbsp;&nbsp; $4713722 | &nbsp;&nbsp; $(986016)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3727706 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The amount of derivatives available for offset is limited to the amount of derivative assets and/or liabilities that are subject to an MNA.

<sup>(b)</sup> Net amount represents the net amount receivable from the counterparty in the event of default.

<sup>(c)</sup> Net amount may also include forward foreign currency exchange contracts that are not required to be collateralized.

<sup>(d)</sup> Net amount represents the net amount payable due to the counterparty in the event of default.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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  |  |  |  |  |
| Investment Companies | &nbsp;&nbsp; $151065077 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $151065077 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 70000 |
|  | &nbsp;&nbsp; $151135077 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $151135077 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Foreign Currency Exchange Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1030050 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1030050 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Currency Hedged MSCI EAFE Small-Cap ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Liabilities  |  |  |  |  |
| Foreign Currency Exchange Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(4713722)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(4713722)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(3683672)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(3683672)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are forward foreign currency exchange contracts. Forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 4.8%** | **Australia — 4.8%** | **Australia — 4.8%** |
| Ampol Ltd. | &nbsp;&nbsp; 41488 | $908793 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 515089 | 9799588 |
| APA Group | &nbsp;&nbsp; 231304 | 1198885 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 97350 | 3467033 |
| ASX Ltd. | &nbsp;&nbsp; 33419 | 1423856 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 304350 | 742088 |
| BHP Group Ltd. | &nbsp;&nbsp; 867861 | 24104791 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 79664 | 1156813 |
| Brambles Ltd. | &nbsp;&nbsp; 234279 | 2388398 |
| CAR Group Ltd. | &nbsp;&nbsp; 58617 | 1340601 |
| Cochlear Ltd. | &nbsp;&nbsp; 11410 | 2578154 |
| Coles Group Ltd. | &nbsp;&nbsp; 233343 | 2765504 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 286137 | 25783835 |
| Computershare Ltd. | &nbsp;&nbsp; 91543 | 1651070 |
| CSL Ltd. | &nbsp;&nbsp; 82588 | 16762314 |
| Dexus | &nbsp;&nbsp; 179272 | 826544 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 242501 | 872197 |
| Fortescue Ltd. | &nbsp;&nbsp; 285913 | 3557566 |
| Goodman Group | &nbsp;&nbsp; 293436 | 6774289 |
| GPT Group (The) | &nbsp;&nbsp; 326305 | 993931 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 412585 | 1996046 |
| James Hardie Industries PLC<sup>(a)</sup> | &nbsp;&nbsp; 74375 | 2671819 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 358891 | 1169469 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 62755 | 8636698 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 435149 | 1132842 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 31298 | 1119303 |
| Mirvac Group | &nbsp;&nbsp; 683594 | 962505 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 530153 | 13389895 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 192289 | 1784659 |
| Orica Ltd. | &nbsp;&nbsp; 98679 | 1161144 |
| Origin Energy Ltd. | &nbsp;&nbsp; 290138 | 1990773 |
| Pilbara Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 495268 | 957285 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 9888 | 932924 |
| Qantas Airways Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 135160 | 572600 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 261048 | 3080902 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 31370 | 955330 |
| REA Group Ltd. | &nbsp;&nbsp; 9133 | 1227929 |
| Reece Ltd. | &nbsp;&nbsp; 37894 | 686693 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 64834 | 4981981 |
| Santos Ltd. | &nbsp;&nbsp; 560321 | 2920901 |
| Scentre Group | &nbsp;&nbsp; 883219 | 2014117 |
| SEEK Ltd. | &nbsp;&nbsp; 64175 | 929356 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 34003 | 872413 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 76330 | 1383341 |
| South32 Ltd. | &nbsp;&nbsp; 789710 | 1583917 |
| Stockland | &nbsp;&nbsp; 403877 | 1219874 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 210859 | 2453370 |
| Telstra Group Ltd. | &nbsp;&nbsp; 667956 | 1726174 |
| Transurban Group | &nbsp;&nbsp; 530831 | 4530003 |
| Treasury Wine Estates Ltd. | &nbsp;&nbsp; 138490 | 1119625 |
| Vicinity Ltd. | &nbsp;&nbsp; 713916 | 989916 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 41413 | 963904 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 196086 | 9463541 |
| Westpac Banking Corp. | &nbsp;&nbsp; 595431 | 11636389 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 28961 | 1814729 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 327410 | 5937517 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 207745 | 4687385 |
| Xero Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 25109 | 2287861 |
|  |  | 217041380 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Austria — 0.1%** | **Austria — 0.1%** | **Austria — 0.1%** |
| Erste Group Bank AG | &nbsp;&nbsp; 57752 | $3004043 |
| OMV AG | &nbsp;&nbsp; 24874 | 1040731 |
| Verbund AG | &nbsp;&nbsp; 11730 | 941867 |
| voestalpine AG | &nbsp;&nbsp; 19110 | 490111 |
|  |  | 5476752 |
| **Belgium — 0.6%** | **Belgium — 0.6%** | **Belgium — 0.6%** |
| Ageas SA/NV | &nbsp;&nbsp; 27523 | 1313982 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 152248 | 9039598 |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 10130 | 5179329 |
| D'ieteren Group | &nbsp;&nbsp; 3708 | 852166 |
| Elia Group SA/NV | &nbsp;&nbsp; 5526 | 573931 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 13278 | 990925 |
| KBC Group NV | &nbsp;&nbsp; 42664 | 3299886 |
| Lotus Bakeries NV | &nbsp;&nbsp; 81 | 880129 |
| Sofina SA | &nbsp;&nbsp; 2857 | 675044 |
| Syensqo SA | &nbsp;&nbsp; 12463 | 1102075 |
| UCB SA | &nbsp;&nbsp; 21768 | 3637308 |
| Umicore SA | &nbsp;&nbsp; 33914 | 465778 |
| Warehouses De Pauw CVA | &nbsp;&nbsp; 28687 | 777107 |
|  |  | 28787258 |
| **Brazil — 0.9%** | **Brazil — 0.9%** | **Brazil — 0.9%** |
| Ambev SA | &nbsp;&nbsp; 770651 | 1577776 |
| Atacadao SA<sup>(a)</sup> | &nbsp;&nbsp; 95727 | 156720 |
| B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp; 992866 | 1904581 |
| Banco Bradesco SA | &nbsp;&nbsp; 250417 | 497190 |
| Banco BTG Pactual SA | &nbsp;&nbsp; 205849 | 1186803 |
| Banco do Brasil SA | &nbsp;&nbsp; 276618 | 1298446 |
| BB Seguridade Participacoes SA | &nbsp;&nbsp; 116356 | 723503 |
| Caixa Seguridade Participacoes S/A | &nbsp;&nbsp; 111203 | 283505 |
| CCR SA | &nbsp;&nbsp; 166074 | 363497 |
| Centrais Eletricas Brasileiras SA | &nbsp;&nbsp; 187038 | 1308504 |
| Cia. de Saneamento Basico do Estado de Sao <br> Paulo SABESP<br>| &nbsp;&nbsp; 67532 | 1053548 |
| Cia. Siderurgica Nacional SA | &nbsp;&nbsp; 111394 | 233575 |
| Cosan SA | &nbsp;&nbsp; 226749 | 535989 |
| CPFL Energia SA | &nbsp;&nbsp; 52871 | 303608 |
| Energisa SA | &nbsp;&nbsp; 49480 | 384300 |
| Eneva SA<sup>(a)</sup> | &nbsp;&nbsp; 117339 | 262014 |
| Engie Brasil Energia SA | &nbsp;&nbsp; 28684 | 224303 |
| Equatorial Energia SA | &nbsp;&nbsp; 170694 | 985026 |
| Hapvida Participacoes e Investimentos SA<sup>(a)(c)</sup> | &nbsp;&nbsp; 837119 | 602366 |
| Hypera SA | &nbsp;&nbsp; 79749 | 406066 |
| JBS SA | &nbsp;&nbsp; 134557 | 802182 |
| Klabin SA | &nbsp;&nbsp; 137479 | 536922 |
| Localiza Rent a Car SA | &nbsp;&nbsp; 151250 | 1172049 |
| Lojas Renner SA | &nbsp;&nbsp; 164061 | 384617 |
| Natura & Co. Holding SA | &nbsp;&nbsp; 157072 | 414608 |
| Petroleo Brasileiro SA | &nbsp;&nbsp; 631251 | 4531137 |
| PRIO SA | &nbsp;&nbsp; 137764 | 1170330 |
| Raia Drogasil SA | &nbsp;&nbsp; 234906 | 1146258 |
| Rede D'Or Sao Luiz SA<sup>(c)</sup> | &nbsp;&nbsp; 100220 | 488861 |
| Rumo SA | &nbsp;&nbsp; 217940 | 853473 |
| Sendas Distribuidora SA<sup>(a)</sup> | &nbsp;&nbsp; 232424 | 403526 |
| Suzano SA | &nbsp;&nbsp; 133998 | 1275980 |
| Telefonica Brasil SA | &nbsp;&nbsp; 70220 | 602242 |
| TIM SA/Brazil | &nbsp;&nbsp; 167906 | 519201 |
| TOTVS SA | &nbsp;&nbsp; 96248 | 472208 |
| Ultrapar Participacoes SA | &nbsp;&nbsp; 125357 | 492239 |
| Vale SA | &nbsp;&nbsp; 579192 | 6310936 |
| Vibra Energia SA | &nbsp;&nbsp; 194146 | 794962 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Brazil (continued)** | **Brazil (continued)** | **Brazil (continued)** |
| WEG SA | &nbsp;&nbsp; 285326 | $2555557 |
|  |  | 39218608 |
| **Canada — 7.6%** | **Canada — 7.6%** | **Canada — 7.6%** |
| Agnico Eagle Mines Ltd. | &nbsp;&nbsp; 86545 | 6677752 |
| Air Canada<sup>(a)(b)</sup> | &nbsp;&nbsp; 30176 | 347735 |
| Alimentation Couche-Tard Inc. | &nbsp;&nbsp; 132159 | 8146925 |
| AltaGas Ltd. | &nbsp;&nbsp; 51759 | 1234133 |
| ARC Resources Ltd. | &nbsp;&nbsp; 101706 | 1759864 |
| Bank of Montreal | &nbsp;&nbsp; 124615 | 10510569 |
| Bank of Nova Scotia (The) | &nbsp;&nbsp; 207339 | 9681777 |
| Barrick Gold Corp. | &nbsp;&nbsp; 298331 | 5527329 |
| BCE Inc. | &nbsp;&nbsp; 15116 | 509870 |
| Brookfield Asset Management Ltd. | &nbsp;&nbsp; 60990 | 2661976 |
| Brookfield Corp., Class A | &nbsp;&nbsp; 233452 | 11384727 |
| Brookfield Renewable Corp., Class A | &nbsp;&nbsp; 22609 | 635538 |
| BRP Inc. | &nbsp;&nbsp; 6147 | 445359 |
| CAE Inc.<sup>(a)</sup> | &nbsp;&nbsp; 56132 | 1021284 |
| Cameco Corp. | &nbsp;&nbsp; 74969 | 3412199 |
| Canadian Apartment Properties REIT | &nbsp;&nbsp; 16209 | 563526 |
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp; 159219 | 8233974 |
| Canadian National Railway Co. | &nbsp;&nbsp; 92218 | 10675553 |
| Canadian Natural Resources Ltd. | &nbsp;&nbsp; 367014 | 13030838 |
| Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp; 159357 | 13363527 |
| Canadian Tire Corp. Ltd., Class A, NVS | &nbsp;&nbsp; 9207 | 945474 |
| Canadian Utilities Ltd., Class A, NVS | &nbsp;&nbsp; 25340 | 593374 |
| CCL Industries Inc., Class B, NVS | &nbsp;&nbsp; 26351 | 1433545 |
| Cenovus Energy Inc. | &nbsp;&nbsp; 237276 | 4781095 |
| CGI Inc.<sup>(a)</sup> | &nbsp;&nbsp; 34921 | 3981902 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 3505 | 11059136 |
| Descartes Systems Group Inc. (The)<sup>(a)</sup> | &nbsp;&nbsp; 15235 | 1549487 |
| Dollarama Inc. | &nbsp;&nbsp; 47280 | 4432297 |
| Element Fleet Management Corp. | &nbsp;&nbsp; 64137 | 1226856 |
| Emera Inc. | &nbsp;&nbsp; 51181 | 1847580 |
| Empire Co. Ltd., NVS | &nbsp;&nbsp; 23264 | 615026 |
| Enbridge Inc. | &nbsp;&nbsp; 362002 | 13547708 |
| Fairfax Financial Holdings Ltd. | &nbsp;&nbsp; 3600 | 4245557 |
| First Quantum Minerals Ltd. | &nbsp;&nbsp; 122855 | 1503820 |
| FirstService Corp. | &nbsp;&nbsp; 7691 | 1341002 |
| Fortis Inc./Canada | &nbsp;&nbsp; 83337 | 3484020 |
| Franco-Nevada Corp. | &nbsp;&nbsp; 32566 | 4196677 |
| George Weston Ltd. | &nbsp;&nbsp; 10817 | 1675219 |
| GFL Environmental Inc. | &nbsp;&nbsp; 36043 | 1398489 |
| Gildan Activewear Inc. | &nbsp;&nbsp; 25132 | 1023374 |
| Great-West Lifeco Inc. | &nbsp;&nbsp; 47420 | 1424334 |
| Hydro One Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 59119 | 1852808 |
| iA Financial Corp. Inc. | &nbsp;&nbsp; 16816 | 1137103 |
| IGM Financial Inc. | &nbsp;&nbsp; 12126 | 343584 |
| Imperial Oil Ltd. | &nbsp;&nbsp; 31778 | 2276581 |
| Intact Financial Corp. | &nbsp;&nbsp; 30246 | 5496484 |
| Ivanhoe Mines Ltd., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 110547 | 1445242 |
| Keyera Corp. | &nbsp;&nbsp; 39957 | 1127241 |
| Kinross Gold Corp. | &nbsp;&nbsp; 212756 | 1933935 |
| Loblaw Companies Ltd. | &nbsp;&nbsp; 28050 | 3458887 |
| Lundin Mining Corp. | &nbsp;&nbsp; 114971 | 1160827 |
| Magna International Inc. | &nbsp;&nbsp; 45766 | 2030987 |
| Manulife Financial Corp. | &nbsp;&nbsp; 307048 | 8179644 |
| MEG Energy Corp.<sup>(a)</sup> | &nbsp;&nbsp; 46684 | 967392 |
| Metro Inc./CN | &nbsp;&nbsp; 39209 | 2334961 |
| National Bank of Canada | &nbsp;&nbsp; 57980 | 4849549 |
| Northland Power Inc. | &nbsp;&nbsp; 43629 | 729652 |
| Nutrien Ltd. | &nbsp;&nbsp; 83625 | 4288912 |
| Onex Corp. | &nbsp;&nbsp; 12527 | 858421 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Open Text Corp. | &nbsp;&nbsp; 47724 | $1504327 |
| Pan American Silver Corp. | &nbsp;&nbsp; 60152 | 1382845 |
| Parkland Corp. | &nbsp;&nbsp; 25866 | 725593 |
| Pembina Pipeline Corp. | &nbsp;&nbsp; 98634 | 3822768 |
| Power Corp. of Canada | &nbsp;&nbsp; 99991 | 2894028 |
| Quebecor Inc., Class B | &nbsp;&nbsp; 23435 | 517704 |
| RB Global Inc. | &nbsp;&nbsp; 32012 | 2550248 |
| Restaurant Brands International Inc. | &nbsp;&nbsp; 50380 | 3527494 |
| RioCan REIT | &nbsp;&nbsp; 28827 | 373322 |
| Rogers Communications Inc., Class B, NVS | &nbsp;&nbsp; 61249 | 2368511 |
| Royal Bank of Canada | &nbsp;&nbsp; 239287 | 26738999 |
| Saputo Inc. | &nbsp;&nbsp; 42050 | 966390 |
| Shopify Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 206702 | 12659777 |
| Stantec Inc. | &nbsp;&nbsp; 20083 | 1767054 |
| Sun Life Financial Inc. | &nbsp;&nbsp; 98499 | 4889814 |
| Suncor Energy Inc. | &nbsp;&nbsp; 218884 | 8741726 |
| TC Energy Corp. | &nbsp;&nbsp; 178148 | 7563854 |
| Teck Resources Ltd., Class B | &nbsp;&nbsp; 78800 | 3862807 |
| TELUS Corp. | &nbsp;&nbsp; 77601 | 1252835 |
| TFI International Inc. | &nbsp;&nbsp; 13952 | 2171748 |
| Thomson Reuters Corp. | &nbsp;&nbsp; 27018 | 4378573 |
| TMX Group Ltd. | &nbsp;&nbsp; 46810 | 1422625 |
| Toromont Industries Ltd. | &nbsp;&nbsp; 12998 | 1208810 |
| Toronto-Dominion Bank (The) | &nbsp;&nbsp; 301403 | 17798419 |
| Tourmaline Oil Corp. | &nbsp;&nbsp; 57157 | 2514966 |
| West Fraser Timber Co. Ltd. | &nbsp;&nbsp; 9089 | 805973 |
| Wheaton Precious Metals Corp. | &nbsp;&nbsp; 76870 | 4596109 |
| WSP Global Inc. | &nbsp;&nbsp; 21528 | 3576020 |
|  |  | 347185976 |
| **Chile — 0.1%** | **Chile — 0.1%** | **Chile — 0.1%** |
| Banco de Chile | &nbsp;&nbsp; 6622029 | 788913 |
| Banco de Credito e Inversiones SA | &nbsp;&nbsp; 16050 | 469329 |
| Banco Santander Chile | &nbsp;&nbsp; 11068329 | 551140 |
| Cencosud SA | &nbsp;&nbsp; 244855 | 452600 |
| Cia. Sud Americana de Vapores SA | &nbsp;&nbsp; 2316119 | 159174 |
| Empresas CMPC SA | &nbsp;&nbsp; 192205 | 333852 |
| Empresas Copec SA | &nbsp;&nbsp; 70069 | 488019 |
| Enel Americas SA | &nbsp;&nbsp; 3541531 | 331452 |
| Enel Chile SA | &nbsp;&nbsp; 6188912 | 353511 |
| Falabella SA<sup>(a)</sup> | &nbsp;&nbsp; 139693 | 462739 |
| Latam Airlines Group SA | &nbsp;&nbsp; 34670502 | 429206 |
|  |  | 4819935 |
| **China — 6.9%** | **China — 6.9%** | **China — 6.9%** |
| AAC Technologies Holdings Inc. | &nbsp;&nbsp; 125000 | 457562 |
| AECC Aviation Power Co. Ltd., Class A | &nbsp;&nbsp; 29400 | 161797 |
| Agricultural Bank of China Ltd., Class A | &nbsp;&nbsp; 1468600 | 932628 |
| Agricultural Bank of China Ltd., Class H | &nbsp;&nbsp; 3958000 | 1771175 |
| Aier Eye Hospital Group Co. Ltd., Class A | &nbsp;&nbsp; 173942 | 266537 |
| Akeso Inc.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 99000 | 536153 |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp; 2664164 | 26215967 |
| Alibaba Health Information Technology Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 908000 | 384067 |
| Aluminum Corp. of China Ltd., Class H | &nbsp;&nbsp; 854000 | 478056 |
| Anhui Conch Cement Co. Ltd., Class A | &nbsp;&nbsp; 88498 | 296106 |
| Anhui Conch Cement Co. Ltd., Class H | &nbsp;&nbsp; 168000 | 409623 |
| Anhui Gujing Distillery Co. Ltd., Class A | &nbsp;&nbsp; 10300 | 268197 |
| Anhui Gujing Distillery Co. Ltd., Class B | &nbsp;&nbsp; 19800 | 264001 |
| Anjoy Foods Group Co. Ltd., Class A | &nbsp;&nbsp; 13700 | 150715 |
| ANTA Sports Products Ltd. | &nbsp;&nbsp; 219800 | 1967394 |
| Asymchem Laboratories Tianjin Co. Ltd., Class A | &nbsp;&nbsp; 11000 | 112877 |
| Autohome Inc., ADR | &nbsp;&nbsp; 13432 | 334994 |
| AviChina Industry & Technology Co. Ltd., Class H | &nbsp;&nbsp; 565000 | 276382 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Baidu Inc.<sup>(a)</sup> | &nbsp;&nbsp; 390588 | $4330684 |
| Bank of Beijing Co. Ltd., Class A | &nbsp;&nbsp; 355698 | 262408 |
| Bank of China Ltd., Class A | &nbsp;&nbsp; 725000 | 467688 |
| Bank of China Ltd., Class H | &nbsp;&nbsp; 13022000 | 5798541 |
| Bank of Communications Co. Ltd., Class A | &nbsp;&nbsp; 612300 | 623708 |
| Bank of Communications Co. Ltd., Class H | &nbsp;&nbsp; 1500800 | 1090464 |
| Bank of Jiangsu Co. Ltd., Class A | &nbsp;&nbsp; 354600 | 377514 |
| Bank of Ningbo Co. Ltd., Class A | &nbsp;&nbsp; 89377 | 266139 |
| Bank of Shanghai Co. Ltd., Class A | &nbsp;&nbsp; 476699 | 480978 |
| Baoshan Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp; 401396 | 377734 |
| BeiGene Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 118176 | 1503523 |
| Beijing Enterprises Holdings Ltd. | &nbsp;&nbsp; 90000 | 298625 |
| Beijing Enterprises Water Group Ltd. | &nbsp;&nbsp; 810000 | 249926 |
| Beijing Kingsoft Office Software Inc., Class A | &nbsp;&nbsp; 7000 | 204338 |
| Beijing-Shanghai High Speed Railway Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 702500 | 556452 |
| Bilibili Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 40574 | 617379 |
| BOC Aviation Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 43800 | 384301 |
| BOE Technology Group Co. Ltd., Class A | &nbsp;&nbsp; 896700 | 489791 |
| Bosideng International Holdings Ltd. | &nbsp;&nbsp; 632000 | 316289 |
| BYD Co. Ltd., Class A | &nbsp;&nbsp; 27700 | 947404 |
| BYD Co. Ltd., Class H | &nbsp;&nbsp; 175000 | 5180833 |
| BYD Electronic International Co. Ltd. | &nbsp;&nbsp; 161000 | 626592 |
| C&D International Investment Group Ltd. | &nbsp;&nbsp; 115000 | 192754 |
| CGN Power Co. Ltd. | &nbsp;&nbsp; 165600 | 107278 |
| CGN Power Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 2329000 | 951091 |
| Changchun High-Tech Industry Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 14300 | 187792 |
| China CITIC Bank Corp. Ltd., Class H | &nbsp;&nbsp; 1581000 | 946118 |
| China Coal Energy Co. Ltd., Class H | &nbsp;&nbsp; 390000 | 395113 |
| China Communications Services Corp. Ltd., <br> Class H<br>| &nbsp;&nbsp; 534000 | 274344 |
| China Construction Bank Corp., Class H | &nbsp;&nbsp; 16490050 | 11514767 |
| China CSSC Holdings Ltd., Class A | &nbsp;&nbsp; 84900 | 482087 |
| China Energy Engineering Corp. Ltd. | &nbsp;&nbsp; 330900 | 101233 |
| China Everbright Bank Co. Ltd., Class A | &nbsp;&nbsp; 864200 | 377962 |
| China Everbright Bank Co. Ltd., Class H | &nbsp;&nbsp; 566000 | 170892 |
| China Feihe Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 690000 | 312495 |
| China Galaxy Securities Co. Ltd., Class H | &nbsp;&nbsp; 743000 | 380281 |
| China Gas Holdings Ltd. | &nbsp;&nbsp; 525000 | 477446 |
| China Hongqiao Group Ltd. | &nbsp;&nbsp; 577000 | 718714 |
| China International Capital Corp. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 318400 | 354886 |
| China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp; 43000 | 191646 |
| China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 1213000 | 1682863 |
| China Literature Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 71800 | 232661 |
| China Longyuan Power Group Corp. Ltd., Class H | &nbsp;&nbsp; 602000 | 539788 |
| China Mengniu Dairy Co. Ltd. | &nbsp;&nbsp; 570000 | 953777 |
| China Merchants Bank Co. Ltd., Class A | &nbsp;&nbsp; 270600 | 1225357 |
| China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp; 609593 | 2526657 |
| China Merchants Port Holdings Co. Ltd. | &nbsp;&nbsp; 240000 | 352904 |
| China Merchants Securities Co. Ltd., Class A | &nbsp;&nbsp; 266060 | 548136 |
| China Merchants Shekou Industrial Zone Holdings <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 123777 | 150693 |
| China Minsheng Banking Corp. Ltd., Class A | &nbsp;&nbsp; 880295 | 432839 |
| China Minsheng Banking Corp. Ltd., Class H | &nbsp;&nbsp; 681240 | 241439 |
| China National Building Material Co. Ltd., Class H | &nbsp;&nbsp; 712000 | 235979 |
| China National Nuclear Power Co. Ltd., Class A | &nbsp;&nbsp; 324900 | 496325 |
| China Northern Rare Earth Group High-Tech Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 127300 | 308544 |
| China Oilfield Services Ltd., Class H | &nbsp;&nbsp; 356000 | 313598 |
| China Overseas Land & Investment Ltd. | &nbsp;&nbsp; 633000 | 1023330 |
| China Pacific Insurance Group Co. Ltd., Class A | &nbsp;&nbsp; 130097 | 532383 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| China Pacific Insurance Group Co. Ltd., Class H | &nbsp;&nbsp; 373800 | $993566 |
| China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp; 534398 | 479844 |
| China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp; 3905000 | 2502651 |
| China Power International Development Ltd. | &nbsp;&nbsp; 968000 | 455644 |
| China Railway Group Ltd., Class A | &nbsp;&nbsp; 401396 | 345735 |
| China Railway Group Ltd., Class H | &nbsp;&nbsp; 562000 | 274066 |
| China Renewable Energy Investment Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 7401 |  |
| China Resources Beer Holdings Co. Ltd. | &nbsp;&nbsp; 285000 | 886613 |
| China Resources Gas Group Ltd. | &nbsp;&nbsp; 168100 | 570494 |
| China Resources Land Ltd. | &nbsp;&nbsp; 570000 | 1703782 |
| China Resources Mixc Lifestyle Services Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 118800 | 333021 |
| China Resources Pharmaceutical Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 341500 | 233510 |
| China Resources Power Holdings Co. Ltd. | &nbsp;&nbsp; 356000 | 979297 |
| China Ruyi Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 960000 | 256624 |
| China Shenhua Energy Co. Ltd., Class A | &nbsp;&nbsp; 97600 | 537077 |
| China Shenhua Energy Co. Ltd., Class H | &nbsp;&nbsp; 553500 | 2301514 |
| China State Construction Engineering Corp. Ltd., <br> Class A<br>| &nbsp;&nbsp; 556798 | 430289 |
| China State Construction International Holdings Ltd. | &nbsp;&nbsp; 356000 | 497580 |
| China Taiping Insurance Holdings Co. Ltd. | &nbsp;&nbsp; 294400 | 313430 |
| China Three Gorges Renewables Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 629300 | 423423 |
| China Tourism Group Duty Free Corp. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 8900 | 62883 |
| China Tourism Group Duty Free Corp. Ltd., Class A | &nbsp;&nbsp; 39298 | 373539 |
| China Tower Corp. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 7762000 | 952386 |
| China United Network Communications Ltd., <br> Class A<br>| &nbsp;&nbsp; 461900 | 300679 |
| China Vanke Co. Ltd., Class A | &nbsp;&nbsp; 203800 | 200113 |
| China Vanke Co. Ltd., Class H<sup>(a)(b)</sup> | &nbsp;&nbsp; 254400 | 139501 |
| China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp; 297849 | 1231091 |
| Chongqing Changan Automobile Co. Ltd., Class A | &nbsp;&nbsp; 111900 | 226186 |
| Chongqing Zhifei Biological Products Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 33500 | 131461 |
| Chow Tai Fook Jewellery Group Ltd. | &nbsp;&nbsp; 368200 | 334392 |
| CITIC Ltd. | &nbsp;&nbsp; 981000 | 904450 |
| CITIC Securities Co. Ltd., Class A | &nbsp;&nbsp; 171400 | 469674 |
| CITIC Securities Co. Ltd., Class H | &nbsp;&nbsp; 293825 | 441885 |
| CMOC Group Ltd., Class A | &nbsp;&nbsp; 419200 | 435057 |
| CMOC Group Ltd., Class H | &nbsp;&nbsp; 393000 | 313441 |
| Contemporary Amperex Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 49560 | 1277380 |
| COSCO Shipping Energy Transportation Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 270000 | 324158 |
| COSCO Shipping Holdings Co. Ltd., Class A | &nbsp;&nbsp; 211030 | 384569 |
| COSCO Shipping Holdings Co. Ltd., Class H | &nbsp;&nbsp; 437749 | 625154 |
| Country Garden Holdings Co. Ltd.<sup>(a)(b)(d)</sup> | &nbsp;&nbsp; 119000 | 3656 |
| CRRC Corp. Ltd., Class A | &nbsp;&nbsp; 535200 | 565627 |
| CRRC Corp. Ltd., Class H | &nbsp;&nbsp; 479000 | 296809 |
| CSC Financial Co. Ltd., Class A | &nbsp;&nbsp; 126100 | 347158 |
| CSPC Pharmaceutical Group Ltd. | &nbsp;&nbsp; 1610960 | 1198306 |
| Daqin Railway Co. Ltd., Class A | &nbsp;&nbsp; 357100 | 344530 |
| East Money Information Co. Ltd., Class A | &nbsp;&nbsp; 254042 | 391754 |
| ENN Energy Holdings Ltd. | &nbsp;&nbsp; 135800 | 950228 |
| Eve Energy Co. Ltd., Class A | &nbsp;&nbsp; 35600 | 189404 |
| Far East Horizon Ltd. | &nbsp;&nbsp; 274000 | 186925 |
| Flat Glass Group Co. Ltd., Class H | &nbsp;&nbsp; 130000 | 188658 |
| Focus Media Information Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 243150 | 195070 |
| Foshan Haitian Flavouring & Food Co. Ltd., Class A | &nbsp;&nbsp; 75396 | 366846 |
| Fosun International Ltd. | &nbsp;&nbsp; 452500 | 235730 |
| Foxconn Industrial Internet Co. Ltd., Class A | &nbsp;&nbsp; 143900 | 483611 |
| Fuyao Glass Industry Group Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 146400 | 764525 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Ganfeng Lithium Group Co. Ltd., Class A | &nbsp;&nbsp; 66700 | $260018 |
| Ganfeng Lithium Group Co. Ltd., Class H<sup>(b)(c)</sup> | &nbsp;&nbsp; 28560 | 59972 |
| GCL Technology Holdings Ltd. | &nbsp;&nbsp; 3649000 | 513407 |
| Geely Automobile Holdings Ltd. | &nbsp;&nbsp; 1032000 | 1048571 |
| Genscript Biotech Corp.<sup>(a)</sup> | &nbsp;&nbsp; 220000 | 350506 |
| GF Securities Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 304400 | 261685 |
| Giant Biogene Holding Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 54400 | 281994 |
| GoerTek Inc., Class A | &nbsp;&nbsp; 113000 | 337469 |
| Great Wall Motor Co. Ltd., Class H | &nbsp;&nbsp; 462500 | 631487 |
| Guangdong Investment Ltd. | &nbsp;&nbsp; 612000 | 320938 |
| Guangzhou Automobile Group Co. Ltd., Class H | &nbsp;&nbsp; 686028 | 253025 |
| Guotai Junan Securities Co. Ltd., Class A | &nbsp;&nbsp; 255900 | 509248 |
| H World Group Ltd., ADR | &nbsp;&nbsp; 35698 | 1070940 |
| Haidilao International Holding Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 295000 | 478472 |
| Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp; 132700 | 501386 |
| Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp; 367800 | 1202491 |
| Haitian International Holdings Ltd. | &nbsp;&nbsp; 123000 | 356857 |
| Haitong Securities Co. Ltd., Class A | &nbsp;&nbsp; 326892 | 410752 |
| Haitong Securities Co. Ltd., Class H | &nbsp;&nbsp; 233200 | 107822 |
| Hangzhou Tigermed Consulting Co. Ltd., Class A | &nbsp;&nbsp; 18100 | 134272 |
| Hansoh Pharmaceutical Group Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 234000 | 511846 |
| Henan Shuanghui Investment & Development Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 79400 | 253555 |
| Hengan International Group Co. Ltd. | &nbsp;&nbsp; 111500 | 348310 |
| Hengli Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 217400 | 420650 |
| Hisense Home Appliances Group Co. Ltd., <br> Class H<sup>(b)</sup><br>| &nbsp;&nbsp; 72466 | 234276 |
| Hua Hong Semiconductor Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 110000 | 291675 |
| Huaneng Power International Inc., Class H | &nbsp;&nbsp; 840000 | 499180 |
| Huatai Securities Co. Ltd., Class A | &nbsp;&nbsp; 179500 | 330378 |
| Huatai Securities Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 149600 | 165515 |
| Huaxia Bank Co. Ltd., Class A | &nbsp;&nbsp; 361100 | 313855 |
| Hygeia Healthcare Holdings Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 76400 | 205843 |
| Iflytek Co. Ltd., Class A | &nbsp;&nbsp; 43700 | 241086 |
| Industrial & Commercial Bank of China Ltd., <br> Class A<br>| &nbsp;&nbsp; 952610 | 771472 |
| Industrial & Commercial Bank of China Ltd., <br> Class H<br>| &nbsp;&nbsp; 10768285 | 5965434 |
| Industrial Bank Co. Ltd., Class A | &nbsp;&nbsp; 251942 | 584194 |
| Inner Mongolia Yili Industrial Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 116999 | 406590 |
| Inner Mongolia Yitai Coal Co. Ltd., Class B | &nbsp;&nbsp; 185800 | 336855 |
| Innovent Biologics Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 211000 | 1044518 |
| iQIYI Inc., ADR<sup>(a)</sup> | &nbsp;&nbsp; 98317 | 327396 |
| JA Solar Technology Co. Ltd., Class A | &nbsp;&nbsp; 93724 | 140157 |
| JD Health International Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 187450 | 520276 |
| JD Logistics Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 345400 | 355248 |
| JD.com Inc. | &nbsp;&nbsp; 396858 | 5232810 |
| Jiangsu Expressway Co. Ltd., Class H | &nbsp;&nbsp; 218000 | 207317 |
| Jiangsu Hengli Hydraulic Co. Ltd., Class A | &nbsp;&nbsp; 38600 | 244715 |
| Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp; 102956 | 601361 |
| Jiangsu Yanghe Distillery Co. Ltd., Class A | &nbsp;&nbsp; 35400 | 400897 |
| Jiangxi Copper Co. Ltd., Class H | &nbsp;&nbsp; 325000 | 571330 |
| Kanzhun Ltd., ADR | &nbsp;&nbsp; 44006 | 597601 |
| KE Holdings Inc., ADR | &nbsp;&nbsp; 110845 | 1535203 |
| Kingdee International Software Group Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 518000 | 415110 |
| Kingsoft Corp. Ltd. | &nbsp;&nbsp; 173400 | 491180 |
| Kuaishou Technology<sup>(a)(c)</sup> | &nbsp;&nbsp; 401000 | 2245878 |
| Kunlun Energy Co. Ltd. | &nbsp;&nbsp; 702000 | 680513 |
| Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp; 13700 | 2694416 |
| Legend Biotech Corp., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 12159 | 685646 |
| Lenovo Group Ltd. | &nbsp;&nbsp; 1456000 | 1885826 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Lens Technology Co. Ltd., Class A | &nbsp;&nbsp; 208225 | $515750 |
| Li Auto Inc.<sup>(a)</sup> | &nbsp;&nbsp; 211106 | 2065083 |
| Li Ning Co. Ltd. | &nbsp;&nbsp; 396500 | 738526 |
| Longfor Group Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 336500 | 437150 |
| LONGi Green Energy Technology Co. Ltd., Class A | &nbsp;&nbsp; 123696 | 248666 |
| Luxshare Precision Industry Co. Ltd., Class A | &nbsp;&nbsp; 108988 | 579078 |
| Luzhou Laojiao Co. Ltd., Class A | &nbsp;&nbsp; 18800 | 340229 |
| Mango Excellent Media Co. Ltd., Class A | &nbsp;&nbsp; 61400 | 175076 |
| Meituan, Class B<sup>(a)(c)</sup> | &nbsp;&nbsp; 864960 | 11976805 |
| Midea Group Co. Ltd., Class A | &nbsp;&nbsp; 48500 | 427908 |
| MINISO Group Holding Ltd. | &nbsp;&nbsp; 71432 | 298613 |
| Muyuan Foods Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 87458 | 529419 |
| NARI Technology Co. Ltd., Class A | &nbsp;&nbsp; 152744 | 507685 |
| NAURA Technology Group Co. Ltd., Class A | &nbsp;&nbsp; 10200 | 484413 |
| NetEase Inc. | &nbsp;&nbsp; 334285 | 6165412 |
| New China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp; 68100 | 301365 |
| New China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 115100 | 224490 |
| New Hope Liuhe Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 218507 | 286595 |
| New Oriental Education & Technology Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 251610 | 1628581 |
| Ningbo Deye Technology Co. Ltd., NVS | &nbsp;&nbsp; 9438 | 126845 |
| Ningxia Baofeng Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 223000 | 463694 |
| NIO Inc., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 239308 | 1062528 |
| Nongfu Spring Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 346000 | 1344091 |
| Orient Overseas International Ltd. | &nbsp;&nbsp; 24000 | 337992 |
| PDD Holdings Inc., ADR<sup>(a)</sup> | &nbsp;&nbsp; 102427 | 13201816 |
| People's Insurance Co. Group of China Ltd. (The), <br> Class H<br>| &nbsp;&nbsp; 1627000 | 547424 |
| PetroChina Co. Ltd., Class A | &nbsp;&nbsp; 207100 | 256762 |
| PetroChina Co. Ltd., Class H | &nbsp;&nbsp; 3656000 | 3174775 |
| PICC Property & Casualty Co. Ltd., Class H | &nbsp;&nbsp; 1188285 | 1558221 |
| Ping An Bank Co. Ltd., Class A | &nbsp;&nbsp; 328500 | 467433 |
| Ping An Insurance Group Co. of China Ltd., Class A | &nbsp;&nbsp; 154306 | 909521 |
| Ping An Insurance Group Co. of China Ltd., Class H | &nbsp;&nbsp; 1116000 | 4846363 |
| Poly Developments and Holdings Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 175300 | 213950 |
| Pop Mart International Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 84400 | 447787 |
| Postal Savings Bank of China Co. Ltd., Class A | &nbsp;&nbsp; 507000 | 338928 |
| Postal Savings Bank of China Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 1226000 | 655586 |
| Qifu Technology Inc. | &nbsp;&nbsp; 23843 | 484251 |
| Rongsheng Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 187150 | 235084 |
| SAIC Motor Corp. Ltd., Class A | &nbsp;&nbsp; 209000 | 424671 |
| Sany Heavy Industry Co. Ltd., Class A | &nbsp;&nbsp; 161027 | 359935 |
| Seres Group Co. Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 21700 | 239698 |
| SF Holding Co. Ltd., Class A | &nbsp;&nbsp; 74800 | 363043 |
| Shaanxi Coal Industry Co. Ltd., Class A | &nbsp;&nbsp; 127800 | 413524 |
| Shandong Gold Mining Co. Ltd., Class A | &nbsp;&nbsp; 132000 | 540269 |
| Shandong Weigao Group Medical Polymer Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 450000 | 228344 |
| Shanghai Baosight Software Co. Ltd., Class B | &nbsp;&nbsp; 202641 | 331596 |
| Shanghai Pharmaceuticals Holding Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 214700 | 321946 |
| Shanghai Pudong Development Bank Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 425600 | 495144 |
| Shanghai United Imaging Healthcare Co. Ltd., NVS | &nbsp;&nbsp; 14138 | 227481 |
| Shanxi Xinghuacun Fen Wine Factory Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 17880 | 456202 |
| Shenwan Hongyuan Group Co. Ltd., Class A | &nbsp;&nbsp; 777006 | 492846 |
| Shenzhen Inovance Technology Co. Ltd., Class A | &nbsp;&nbsp; 41200 | 265835 |
| Shenzhen Kangtai Biological Products Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 57780 | 127601 |
| Shenzhen Mindray Bio-Medical Electronics Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 17600 | 626956 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Shenzhou International Group Holdings Ltd. | &nbsp;&nbsp; 139000 | $1176702 |
| Sino Biopharmaceutical Ltd. | &nbsp;&nbsp; 1799000 | 645120 |
| Sinomine Resource Group Co. Ltd., Class A | &nbsp;&nbsp; 31120 | 116086 |
| Sinopharm Group Co. Ltd., Class H | &nbsp;&nbsp; 242400 | 568560 |
| Sinotruk Hong Kong Ltd. | &nbsp;&nbsp; 132500 | 348512 |
| Smoore International Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 373000 | 435506 |
| Sungrow Power Supply Co. Ltd., Class A | &nbsp;&nbsp; 36120 | 344897 |
| Sunny Optical Technology Group Co. Ltd. | &nbsp;&nbsp; 124100 | 695966 |
| Suzhou Maxwell Technologies Co. Ltd., Class A | &nbsp;&nbsp; 7200 | 103732 |
| TAL Education Group, ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 76441 | 765939 |
| TCL Zhonghuan Renewable Energy Technology Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 88000 | 106536 |
| Tencent Holdings Ltd. | &nbsp;&nbsp; 1129000 | 52099347 |
| Tencent Music Entertainment Group, ADR | &nbsp;&nbsp; 134716 | 1910273 |
| Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp; 358000 | 436508 |
| Tongcheng Travel Holdings Ltd. | &nbsp;&nbsp; 240000 | 417853 |
| Tongwei Co. Ltd., Class A | &nbsp;&nbsp; 86900 | 218205 |
| Topsports International Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 318000 | 141643 |
| TravelSky Technology Ltd., Class H | &nbsp;&nbsp; 142000 | 160081 |
| Trina Solar Co. Ltd. | &nbsp;&nbsp; 39617 | 95705 |
| Trip.com Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 94710 | 4043329 |
| Tsingtao Brewery Co. Ltd., Class H | &nbsp;&nbsp; 112000 | 715523 |
| Vipshop Holdings Ltd., ADR | &nbsp;&nbsp; 62257 | 849185 |
| Wanhua Chemical Group Co. Ltd., Class A | &nbsp;&nbsp; 52431 | 562982 |
| Want Want China Holdings Ltd. | &nbsp;&nbsp; 889000 | 533661 |
| Weichai Power Co. Ltd., Class H | &nbsp;&nbsp; 369000 | 590565 |
| Wens Foodstuffs Group Co. Ltd., Class A | &nbsp;&nbsp; 109360 | 301848 |
| Will Semiconductor Co. Ltd. Shanghai, Class A | &nbsp;&nbsp; 25785 | 367989 |
| Wingtech Technology Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 35500 | 147231 |
| Wuliangye Yibin Co. Ltd., Class A | &nbsp;&nbsp; 50000 | 878796 |
| WuXi AppTec Co. Ltd., Class A | &nbsp;&nbsp; 45614 | 268307 |
| WuXi AppTec Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 58236 | 238227 |
| Wuxi Biologics Cayman Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 642500 | 939756 |
| Xiaomi Corp., Class B<sup>(a)(c)</sup> | &nbsp;&nbsp; 2656800 | 5706354 |
| Xinyi Solar Holdings Ltd. | &nbsp;&nbsp; 874000 | 414694 |
| XPeng Inc.<sup>(a)</sup> | &nbsp;&nbsp; 226032 | 913629 |
| Yadea Group Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 200000 | 269538 |
| Yankuang Energy Group Co. Ltd., Class H | &nbsp;&nbsp; 640700 | 836312 |
| Yonyou Network Technology Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 105300 | 139724 |
| Yum China Holdings Inc. | &nbsp;&nbsp; 67160 | 2030918 |
| Yunnan Baiyao Group Co. Ltd., Class A | &nbsp;&nbsp; 55698 | 389540 |
| Yunnan Energy New Material Co. Ltd., Class A | &nbsp;&nbsp; 25100 | 107163 |
| Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 13600 | 400402 |
| Zhaojin Mining Industry Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 278000 | 498404 |
| Zhejiang Expressway Co. Ltd., Class H | &nbsp;&nbsp; 231840 | 152137 |
| Zhejiang Huayou Cobalt Co. Ltd., Class A | &nbsp;&nbsp; 45900 | 149323 |
| Zhejiang Leapmotor Technology Co. Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 87872 | 280649 |
| Zhongsheng Group Holdings Ltd. | &nbsp;&nbsp; 156500 | 244180 |
| Zhuzhou CRRC Times Electric Co. Ltd. | &nbsp;&nbsp; 114200 | 421458 |
| Zijin Mining Group Co. Ltd., Class A | &nbsp;&nbsp; 357600 | 825115 |
| Zijin Mining Group Co. Ltd., Class H | &nbsp;&nbsp; 860000 | 1744394 |
| ZTE Corp., Class A | &nbsp;&nbsp; 42800 | 163041 |
| ZTE Corp., Class H | &nbsp;&nbsp; 130800 | 293002 |
| ZTO Express Cayman Inc., ADR | &nbsp;&nbsp; 73129 | 1385795 |
|  |  | 315983462 |
| **Colombia — 0.0%** | **Colombia — 0.0%** | **Colombia — 0.0%** |
| Bancolombia SA | &nbsp;&nbsp; 35968 | 324253 |
| Interconexion Electrica SA ESP | &nbsp;&nbsp; 73165 | 316067 |
|  |  | 640320 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Czech Republic — 0.0%** | **Czech Republic — 0.0%** | **Czech Republic — 0.0%** |
| CEZ AS<sup>(b)</sup> | &nbsp;&nbsp; 25687 | $989177 |
| Komercni Banka AS | &nbsp;&nbsp; 13163 | 454756 |
| Moneta Money Bank AS<sup>(c)</sup> | &nbsp;&nbsp; 63542 | 291089 |
|  |  | 1735022 |
| **Denmark — 2.4%** | **Denmark — 2.4%** | **Denmark — 2.4%** |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 630 | 1023394 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 679 | 1123296 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 16596 | 2004082 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 21659 | 2815681 |
| Danske Bank A/S | &nbsp;&nbsp; 119037 | 3640447 |
| Demant A/S<sup>(a)</sup> | &nbsp;&nbsp; 17173 | 658403 |
| DSV A/S | &nbsp;&nbsp; 29260 | 5367589 |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 11280 | 3186280 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 559042 | 74069087 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 64871 | 4129508 |
| Orsted A/S<sup>(a)(c)</sup> | &nbsp;&nbsp; 32778 | 1953700 |
| Pandora A/S | &nbsp;&nbsp; 14096 | 2209595 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 1675 | 740371 |
| Tryg A/S | &nbsp;&nbsp; 59255 | 1297335 |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 174335 | 4314275 |
|  |  | 108533043 |
| **Egypt — 0.0%** | **Egypt — 0.0%** | **Egypt — 0.0%** |
| Commercial International Bank - Egypt (CIB) | &nbsp;&nbsp; 462852 | 793883 |
| Eastern Co. SAE | &nbsp;&nbsp; 263319 | 121189 |
|  |  | 915072 |
| **Finland — 0.6%** | **Finland — 0.6%** | **Finland — 0.6%** |
| Elisa OYJ | &nbsp;&nbsp; 24402 | 1136192 |
| Fortum OYJ | &nbsp;&nbsp; 74351 | 1143294 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 48930 | 885080 |
| Kone OYJ, Class B | &nbsp;&nbsp; 58309 | 2977524 |
| Metso OYJ | &nbsp;&nbsp; 110908 | 1126884 |
| Neste OYJ | &nbsp;&nbsp; 72357 | 1460369 |
| Nokia OYJ | &nbsp;&nbsp; 914222 | 3592801 |
| Nordea Bank Abp | &nbsp;&nbsp; 545395 | 6382068 |
| Orion OYJ, Class B | &nbsp;&nbsp; 18709 | 859925 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 77617 | 3402349 |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 97186 | 1214933 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 92744 | 3067602 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 87463 | 1807409 |
|  |  | 29056430 |
| **France — 7.1%** | **France — 7.1%** | **France — 7.1%** |
| Accor SA | &nbsp;&nbsp; 29873 | 1149606 |
| Aeroports de Paris SA | &nbsp;&nbsp; 5121 | 672829 |
| Air Liquide SA | &nbsp;&nbsp; 98474 | 17967415 |
| Airbus SE | &nbsp;&nbsp; 101785 | 15402777 |
| Alstom SA<sup>(a)</sup> | &nbsp;&nbsp; 57401 | 1124635 |
| Amundi SA<sup>(c)</sup> | &nbsp;&nbsp; 10329 | 753817 |
| ArcelorMittal SA | &nbsp;&nbsp; 81367 | 1852782 |
| Arkema SA | &nbsp;&nbsp; 10057 | 907572 |
| AXA SA | &nbsp;&nbsp; 310378 | 10897310 |
| BioMerieux | &nbsp;&nbsp; 8285 | 874287 |
| BNP Paribas SA | &nbsp;&nbsp; 174985 | 11988873 |
| Bollore SE | &nbsp;&nbsp; 137374 | 855131 |
| Bouygues SA | &nbsp;&nbsp; 33611 | 1160453 |
| Bureau Veritas SA | &nbsp;&nbsp; 55628 | 1740556 |
| Capgemini SE | &nbsp;&nbsp; 26829 | 5326185 |
| Carrefour SA | &nbsp;&nbsp; 95767 | 1428578 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 78085 | 6698579 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 115393 | 4568275 |
| Covivio SA/France | &nbsp;&nbsp; 8653 | 445432 |
| Credit Agricole SA | &nbsp;&nbsp; 183468 | 2784212 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Danone SA | &nbsp;&nbsp; 108443 | $7045005 |
| Dassault Aviation SA | &nbsp;&nbsp; 3843 | 773727 |
| Dassault Systemes SE | &nbsp;&nbsp; 113917 | 4318453 |
| Edenred SE | &nbsp;&nbsp; 42832 | 1783472 |
| Eiffage SA | &nbsp;&nbsp; 11361 | 1130666 |
| Engie SA | &nbsp;&nbsp; 306716 | 4821625 |
| EssilorLuxottica SA | &nbsp;&nbsp; 50070 | 11458002 |
| Eurazeo SE | &nbsp;&nbsp; 7284 | 573070 |
| Eurofins Scientific SE | &nbsp;&nbsp; 22764 | 1347717 |
| Euronext NV<sup>(c)</sup> | &nbsp;&nbsp; 14089 | 1424439 |
| Gecina SA | &nbsp;&nbsp; 7501 | 743632 |
| Getlink SE | &nbsp;&nbsp; 59352 | 1057644 |
| Hermes International SCA | &nbsp;&nbsp; 5444 | 11896962 |
| Ipsen SA | &nbsp;&nbsp; 6646 | 746214 |
| Kering SA | &nbsp;&nbsp; 12591 | 3867171 |
| Klepierre SA | &nbsp;&nbsp; 40092 | 1148017 |
| La Francaise des Jeux SAEM<sup>(c)</sup> | &nbsp;&nbsp; 15913 | 617404 |
| Legrand SA | &nbsp;&nbsp; 44802 | 4840718 |
| L'Oreal SA | &nbsp;&nbsp; 41165 | 17801699 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 47044 | 33183060 |
| Orange SA | &nbsp;&nbsp; 309276 | 3432118 |
| Pernod Ricard SA | &nbsp;&nbsp; 34588 | 4628121 |
| Publicis Groupe SA | &nbsp;&nbsp; 38448 | 4013834 |
| Remy Cointreau SA | &nbsp;&nbsp; 3877 | 305917 |
| Renault SA | &nbsp;&nbsp; 31436 | 1523456 |
| Rexel SA | &nbsp;&nbsp; 38286 | 972728 |
| Safran SA | &nbsp;&nbsp; 57965 | 12734484 |
| Sanofi SA | &nbsp;&nbsp; 194080 | 20008187 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 4764 | 950659 |
| Schneider Electric SE | &nbsp;&nbsp; 93400 | 22512685 |
| SEB SA | &nbsp;&nbsp; 4562 | 456510 |
| Societe Generale SA | &nbsp;&nbsp; 120725 | 3131240 |
| Sodexo SA | &nbsp;&nbsp; 14543 | 1377328 |
| STMicroelectronics NV | &nbsp;&nbsp; 116610 | 3855457 |
| Teleperformance SE | &nbsp;&nbsp; 9252 | 1191059 |
| Thales SA | &nbsp;&nbsp; 17741 | 2819993 |
| TotalEnergies SE | &nbsp;&nbsp; 368389 | 24853839 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 19454 | 1454794 |
| Veolia Environnement SA | &nbsp;&nbsp; 118956 | 3736848 |
| Vinci SA | &nbsp;&nbsp; 85868 | 9799079 |
| Vivendi SE | &nbsp;&nbsp; 109892 | 1172631 |
|  |  | 324108968 |
| **Germany — 5.2%** | **Germany — 5.2%** | **Germany — 5.2%** |
| adidas AG | &nbsp;&nbsp; 27658 | 6931019 |
| Allianz SE, Registered | &nbsp;&nbsp; 67200 | 18927914 |
| BASF SE | &nbsp;&nbsp; 153087 | 7127293 |
| Bayer AG, Registered | &nbsp;&nbsp; 169275 | 5036048 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 54678 | 5071336 |
| Bechtle AG | &nbsp;&nbsp; 14976 | 661843 |
| Beiersdorf AG | &nbsp;&nbsp; 17524 | 2543556 |
| Brenntag SE | &nbsp;&nbsp; 21916 | 1559023 |
| Carl Zeiss Meditec AG, Bearer | &nbsp;&nbsp; 7025 | 480612 |
| Commerzbank AG | &nbsp;&nbsp; 182970 | 2982863 |
| Continental AG | &nbsp;&nbsp; 18506 | 1134488 |
| Covestro AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 32791 | 1930368 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 10721 | 944346 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 90398 | 3490171 |
| Delivery Hero SE, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 34882 | 776061 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 326151 | 5076695 |
| Deutsche Boerse AG | &nbsp;&nbsp; 32040 | 6560781 |
| Deutsche Lufthansa AG, Registered | &nbsp;&nbsp; 108491 | 679890 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 170268 | 7594895 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 551139 | $14416409 |
| E.ON SE | &nbsp;&nbsp; 378295 | 5304876 |
| Evonik Industries AG | &nbsp;&nbsp; 43062 | 872079 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 35961 | 1387658 |
| Fresenius SE & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 72946 | 2613710 |
| GEA Group AG | &nbsp;&nbsp; 26078 | 1151486 |
| Hannover Rueck SE | &nbsp;&nbsp; 10344 | 2568317 |
| Heidelberg Materials AG | &nbsp;&nbsp; 23231 | 2420187 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 18276 | 1416077 |
| Infineon Technologies AG | &nbsp;&nbsp; 224359 | 7793814 |
| Knorr-Bremse AG | &nbsp;&nbsp; 12383 | 995789 |
| LEG Immobilien SE | &nbsp;&nbsp; 12307 | 1073558 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 135960 | 8987557 |
| Merck KGaA | &nbsp;&nbsp; 22335 | 3990645 |
| MTU Aero Engines AG | &nbsp;&nbsp; 9413 | 2665419 |
| Muenchener Rueckversicherungs-Gesellschaft AG <br> in Muenchen, Registered<br>| &nbsp;&nbsp; 23411 | 11530497 |
| Nemetschek SE | &nbsp;&nbsp; 9883 | 943986 |
| Puma SE | &nbsp;&nbsp; 18325 | 909344 |
| Qiagen NV, NVS | &nbsp;&nbsp; 38508 | 1713373 |
| Rational AG | &nbsp;&nbsp; 915 | 800970 |
| Rheinmetall AG | &nbsp;&nbsp; 7531 | 4101806 |
| RWE AG | &nbsp;&nbsp; 108878 | 4063425 |
| SAP SE | &nbsp;&nbsp; 180008 | 38057334 |
| Scout24 SE<sup>(c)</sup> | &nbsp;&nbsp; 12800 | 1011935 |
| Siemens AG, Registered | &nbsp;&nbsp; 129944 | 23792354 |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 103827 | 3014984 |
| Siemens Healthineers AG<sup>(c)</sup> | &nbsp;&nbsp; 46863 | 2511815 |
| Symrise AG, Class A | &nbsp;&nbsp; 22929 | 2889773 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 11765 | 893804 |
| Volkswagen AG | &nbsp;&nbsp; 5594 | 660031 |
| Vonovia SE | &nbsp;&nbsp; 125255 | 3840343 |
| Zalando SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 40485 | 1037399 |
|  |  | 238939956 |
| **Greece — 0.2%** | **Greece — 0.2%** | **Greece — 0.2%** |
| Alpha Services and Holdings SA | &nbsp;&nbsp; 416946 | 769302 |
| Eurobank Ergasias Services and Holdings SA, <br> Class A<br>| &nbsp;&nbsp; 492869 | 1129296 |
| Hellenic Telecommunications Organization SA | &nbsp;&nbsp; 34927 | 573842 |
| Jumbo SA | &nbsp;&nbsp; 23107 | 619187 |
| Metlen Energy & Metals SA | &nbsp;&nbsp; 17297 | 683568 |
| Motor Oil Hellas Corinth Refineries SA | &nbsp;&nbsp; 7601 | 193748 |
| National Bank of Greece SA | &nbsp;&nbsp; 142027 | 1246578 |
| OPAP SA | &nbsp;&nbsp; 33217 | 579140 |
| Piraeus Financial Holdings SA | &nbsp;&nbsp; 154090 | 651024 |
| Public Power Corp. SA | &nbsp;&nbsp; 37061 | 472132 |
|  |  | 6917817 |
| **Hong Kong — 1.1%** | **Hong Kong — 1.1%** | **Hong Kong — 1.1%** |
| AIA Group Ltd. | &nbsp;&nbsp; 1923600 | 12866683 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 633500 | 1843055 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 330060 | 1261182 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 436560 | 2280637 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 113000 | 753682 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 281500 | 2416007 |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 9656 | 611032 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 380000 | 1597490 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 133800 | 1638491 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 234617 | 658997 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 644000 | 779989 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 2017748 | 1644207 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 211400 | 6235670 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| Hongkong Land Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 192400 | $621377 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 28100 | 989933 |
| Link REIT | &nbsp;&nbsp; 426920 | 1801184 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 245000 | 792598 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 234500 | 1494579 |
| Sands China Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 420800 | 788846 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 684000 | 707501 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 244000 | 544554 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 247000 | 2138655 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 80000 | 690142 |
| Swire Properties Ltd. | &nbsp;&nbsp; 203200 | 320920 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 234500 | 3003169 |
| WH Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1379500 | 896735 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 177000 | 485307 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 299000 | 735067 |
|  |  | 50597689 |
| **Hungary — 0.1%** | **Hungary — 0.1%** | **Hungary — 0.1%** |
| MOL Hungarian Oil & Gas PLC | &nbsp;&nbsp; 78523 | 612048 |
| OTP Bank Nyrt | &nbsp;&nbsp; 38680 | 1982797 |
| Richter Gedeon Nyrt | &nbsp;&nbsp; 23410 | 667383 |
|  |  | 3262228 |
| **India — 5.7%** | **India — 5.7%** | **India — 5.7%** |
| ABB India Ltd. | &nbsp;&nbsp; 9358 | 884384 |
| Adani Enterprises Ltd. | &nbsp;&nbsp; 28505 | 1081786 |
| Adani Green Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 53431 | 1182073 |
| Adani Ports & Special Economic Zone Ltd. | &nbsp;&nbsp; 89345 | 1680176 |
| Adani Power Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 131280 | 1155110 |
| Ambuja Cements Ltd. | &nbsp;&nbsp; 105788 | 860517 |
| APL Apollo Tubes Ltd. | &nbsp;&nbsp; 28443 | 505667 |
| Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp; 17835 | 1412092 |
| Ashok Leyland Ltd. | &nbsp;&nbsp; 284139 | 874472 |
| Asian Paints Ltd. | &nbsp;&nbsp; 65723 | 2425693 |
| Astral Ltd. | &nbsp;&nbsp; 22040 | 576985 |
| AU Small Finance Bank Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 70126 | 542057 |
| Aurobindo Pharma Ltd. | &nbsp;&nbsp; 51350 | 881176 |
| Avenue Supermarts Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 27213 | 1605622 |
| Axis Bank Ltd. | &nbsp;&nbsp; 401014 | 5601885 |
| Bajaj Auto Ltd. | &nbsp;&nbsp; 11799 | 1363201 |
| Bajaj Finance Ltd. | &nbsp;&nbsp; 47852 | 3899307 |
| Bajaj Finserv Ltd. | &nbsp;&nbsp; 67463 | 1333800 |
| Bajaj Holdings & Investment Ltd. | &nbsp;&nbsp; 3993 | 459459 |
| Balkrishna Industries Ltd. | &nbsp;&nbsp; 13786 | 548186 |
| Bandhan Bank Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 124540 | 325210 |
| Bank of Baroda | &nbsp;&nbsp; 175948 | 534110 |
| Bharat Electronics Ltd. | &nbsp;&nbsp; 612077 | 2316031 |
| Bharat Forge Ltd. | &nbsp;&nbsp; 42773 | 887695 |
| Bharat Heavy Electricals Ltd. | &nbsp;&nbsp; 184199 | 696842 |
| Bharat Petroleum Corp. Ltd. | &nbsp;&nbsp; 263458 | 1105068 |
| Bharti Airtel Ltd. | &nbsp;&nbsp; 390755 | 6980415 |
| Bosch Ltd. | &nbsp;&nbsp; 1552 | 649094 |
| Britannia Industries Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 18310 | 1266085 |
| CG Power and Industrial Solutions Ltd. | &nbsp;&nbsp; 112064 | 987616 |
| Cholamandalam Investment and Finance Co. Ltd. | &nbsp;&nbsp; 68654 | 1163243 |
| Cipla Ltd. | &nbsp;&nbsp; 91618 | 1692916 |
| Coal India Ltd. | &nbsp;&nbsp; 254303 | 1590638 |
| Colgate-Palmolive India Ltd. | &nbsp;&nbsp; 22799 | 930434 |
| Container Corp. of India Ltd. | &nbsp;&nbsp; 41941 | 522772 |
| Cummins India Ltd. | &nbsp;&nbsp; 24006 | 1106855 |
| Dabur India Ltd. | &nbsp;&nbsp; 89036 | 676925 |
| Divi's Laboratories Ltd. | &nbsp;&nbsp; 20748 | 1221368 |
| DLF Ltd. | &nbsp;&nbsp; 135293 | 1440384 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Dr. Reddy's Laboratories Ltd. | &nbsp;&nbsp; 18106 | $1462048 |
| Eicher Motors Ltd. | &nbsp;&nbsp; 23826 | 1414886 |
| GAIL India Ltd. | &nbsp;&nbsp; 407082 | 1174126 |
| GMR Airports Infrastructure Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 429577 | 523516 |
| Godrej Consumer Products Ltd. | &nbsp;&nbsp; 71564 | 1234094 |
| Godrej Properties Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 21143 | 815060 |
| Grasim Industries Ltd. | &nbsp;&nbsp; 50719 | 1684577 |
| Havells India Ltd. | &nbsp;&nbsp; 40788 | 902084 |
| HCL Technologies Ltd. | &nbsp;&nbsp; 159190 | 3132370 |
| HDFC Asset Management Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 14725 | 724618 |
| HDFC Bank Ltd. | &nbsp;&nbsp; 477844 | 9233980 |
| HDFC Life Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 155145 | 1328316 |
| Hero MotoCorp Ltd. | &nbsp;&nbsp; 20544 | 1349693 |
| Hindalco Industries Ltd. | &nbsp;&nbsp; 236084 | 1893752 |
| Hindustan Aeronautics Ltd., NVS | &nbsp;&nbsp; 35174 | 2072879 |
| Hindustan Petroleum Corp. Ltd. | &nbsp;&nbsp; 157066 | 738389 |
| Hindustan Unilever Ltd. | &nbsp;&nbsp; 136328 | 4410548 |
| ICICI Bank Ltd. | &nbsp;&nbsp; 896630 | 13069695 |
| ICICI Lombard General Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 35869 | 861917 |
| ICICI Prudential Life Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 68815 | 606285 |
| IDFC First Bank Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 548156 | 498800 |
| Indian Hotels Co. Ltd., Class A | &nbsp;&nbsp; 150809 | 1158919 |
| Indian Oil Corp. Ltd. | &nbsp;&nbsp; 490035 | 1067865 |
| Indian Railway Catering & Tourism Corp. Ltd. | &nbsp;&nbsp; 40589 | 480002 |
| Indus Towers Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 207637 | 1076352 |
| IndusInd Bank Ltd. | &nbsp;&nbsp; 47539 | 812551 |
| Info Edge India Ltd. | &nbsp;&nbsp; 13661 | 1148801 |
| Infosys Ltd. | &nbsp;&nbsp; 565675 | 12543733 |
| InterGlobe Aviation Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 29551 | 1580270 |
| ITC Ltd. | &nbsp;&nbsp; 509921 | 3023153 |
| Jindal Stainless Ltd. | &nbsp;&nbsp; 64033 | 567751 |
| Jindal Steel & Power Ltd. | &nbsp;&nbsp; 57877 | 685376 |
| Jio Financial Services Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 492822 | 1940630 |
| JSW Energy Ltd. | &nbsp;&nbsp; 61677 | 537902 |
| JSW Steel Ltd. | &nbsp;&nbsp; 111745 | 1241991 |
| Jubilant Foodworks Ltd. | &nbsp;&nbsp; 72685 | 520980 |
| Kotak Mahindra Bank Ltd. | &nbsp;&nbsp; 184918 | 4006053 |
| Larsen & Toubro Ltd. | &nbsp;&nbsp; 113898 | 5201422 |
| LTIMindtree Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 15119 | 1024334 |
| Lupin Ltd. | &nbsp;&nbsp; 40360 | 923573 |
| Macrotech Developers Ltd. | &nbsp;&nbsp; 55097 | 862794 |
| Mahindra & Mahindra Ltd. | &nbsp;&nbsp; 162671 | 5662652 |
| Mankind Pharma Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 19178 | 465436 |
| Marico Ltd. | &nbsp;&nbsp; 88718 | 715373 |
| Maruti Suzuki India Ltd. | &nbsp;&nbsp; 24188 | 3795183 |
| Max Healthcare Institute Ltd. | &nbsp;&nbsp; 135863 | 1500339 |
| Mphasis Ltd. | &nbsp;&nbsp; 14430 | 500189 |
| MRF Ltd. | &nbsp;&nbsp; 427 | 726109 |
| Muthoot Finance Ltd. | &nbsp;&nbsp; 17075 | 375410 |
| Nestle India Ltd., NVS | &nbsp;&nbsp; 56718 | 1666716 |
| NHPC Ltd., NVS | &nbsp;&nbsp; 531836 | 669512 |
| NMDC Ltd. | &nbsp;&nbsp; 180009 | 521198 |
| NTPC Ltd. | &nbsp;&nbsp; 737227 | 3671190 |
| Oil & Natural Gas Corp. Ltd. | &nbsp;&nbsp; 536196 | 2142091 |
| Page Industries Ltd. | &nbsp;&nbsp; 1162 | 589285 |
| PB Fintech Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 51775 | 900713 |
| Persistent Systems Ltd., NVS | &nbsp;&nbsp; 17112 | 990148 |
| Petronet LNG Ltd. | &nbsp;&nbsp; 133271 | 587711 |
| Phoenix Mills Ltd. (The) | &nbsp;&nbsp; 17395 | 748594 |
| PI Industries Ltd. | &nbsp;&nbsp; 15290 | 810304 |
| Pidilite Industries Ltd. | &nbsp;&nbsp; 27692 | 1054509 |
| Polycab India Ltd. | &nbsp;&nbsp; 9644 | 792328 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Power Finance Corp. Ltd. | &nbsp;&nbsp; 258775 | $1727357 |
| Power Grid Corp. of India Ltd. | &nbsp;&nbsp; 784650 | 3268215 |
| Punjab National Bank | &nbsp;&nbsp; 376409 | 559231 |
| REC Ltd. | &nbsp;&nbsp; 219690 | 1697037 |
| Reliance Industries Ltd. | &nbsp;&nbsp; 518908 | 18707889 |
| Samvardhana Motherson International Ltd. | &nbsp;&nbsp; 475237 | 1118673 |
| SBI Cards & Payment Services Ltd. | &nbsp;&nbsp; 40386 | 351119 |
| SBI Life Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 77395 | 1624248 |
| Shree Cement Ltd. | &nbsp;&nbsp; 1351 | 448271 |
| Shriram Finance Ltd. | &nbsp;&nbsp; 46308 | 1624658 |
| Siemens Ltd. | &nbsp;&nbsp; 15164 | 1294815 |
| Solar Industries India Ltd. | &nbsp;&nbsp; 5163 | 667575 |
| Sona Blw Precision Forgings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 67407 | 547597 |
| SRF Ltd. | &nbsp;&nbsp; 23452 | 742347 |
| State Bank of India | &nbsp;&nbsp; 307484 | 3214660 |
| Sun Pharmaceutical Industries Ltd. | &nbsp;&nbsp; 165855 | 3411297 |
| Sundaram Finance Ltd. | &nbsp;&nbsp; 11797 | 610414 |
| Supreme Industries Ltd. | &nbsp;&nbsp; 10653 | 682698 |
| Suzlon Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1624714 | 1351089 |
| Tata Communications Ltd. | &nbsp;&nbsp; 19371 | 461393 |
| Tata Consultancy Services Ltd. | &nbsp;&nbsp; 152273 | 7995962 |
| Tata Consumer Products Ltd. | &nbsp;&nbsp; 104232 | 1483095 |
| Tata Elxsi Ltd. | &nbsp;&nbsp; 5907 | 493768 |
| Tata Motors Ltd. | &nbsp;&nbsp; 279550 | 3871637 |
| Tata Motors Ltd. | &nbsp;&nbsp; 80532 | 765374 |
| Tata Power Co. Ltd. (The) | &nbsp;&nbsp; 242683 | 1317898 |
| Tata Steel Ltd. | &nbsp;&nbsp; 1281313 | 2536857 |
| Tech Mahindra Ltd. | &nbsp;&nbsp; 88304 | 1644861 |
| Thermax Ltd. | &nbsp;&nbsp; 7298 | 443012 |
| Titan Co. Ltd. | &nbsp;&nbsp; 59361 | 2458219 |
| Torrent Pharmaceuticals Ltd. | &nbsp;&nbsp; 13540 | 513883 |
| Torrent Power Ltd. | &nbsp;&nbsp; 30140 | 672987 |
| Trent Ltd. | &nbsp;&nbsp; 30946 | 2162769 |
| Tube Investments of India Ltd. | &nbsp;&nbsp; 19800 | 980275 |
| TVS Motor Co. Ltd. | &nbsp;&nbsp; 37965 | 1149809 |
| UltraTech Cement Ltd. | &nbsp;&nbsp; 19770 | 2810952 |
| Union Bank of India Ltd. | &nbsp;&nbsp; 261185 | 422186 |
| United Spirits Ltd. | &nbsp;&nbsp; 51512 | 871345 |
| UPL Ltd. | &nbsp;&nbsp; 87339 | 597943 |
| Varun Beverages Ltd. | &nbsp;&nbsp; 80457 | 1517957 |
| Vedanta Ltd. | &nbsp;&nbsp; 241402 | 1302237 |
| Wipro Ltd. | &nbsp;&nbsp; 220050 | 1373202 |
| Yes Bank Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2469149 | 784123 |
| Zomato Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1131748 | 3112315 |
|  |  | 258781673 |
| **Indonesia — 0.5%** | **Indonesia — 0.5%** | **Indonesia — 0.5%** |
| Adaro Energy Indonesia Tbk PT | &nbsp;&nbsp; 2433100 | 481832 |
| Amman Mineral Internasional PT<sup>(a)</sup> | &nbsp;&nbsp; 1092300 | 795265 |
| Aneka Tambang Tbk | &nbsp;&nbsp; 1552700 | 125760 |
| Astra International Tbk PT | &nbsp;&nbsp; 3259900 | 947627 |
| Bank Central Asia Tbk PT | &nbsp;&nbsp; 9552900 | 6036657 |
| Bank Mandiri Persero Tbk PT | &nbsp;&nbsp; 6244968 | 2462948 |
| Bank Negara Indonesia Persero Tbk PT | &nbsp;&nbsp; 2608900 | 799036 |
| Bank Rakyat Indonesia Persero Tbk PT | &nbsp;&nbsp; 11817716 | 3400430 |
| Barito Pacific Tbk PT | &nbsp;&nbsp; 5676088 | 381587 |
| Chandra Asri Pacific Tbk PT | &nbsp;&nbsp; 1348148 | 800100 |
| Charoen Pokphand Indonesia Tbk PT | &nbsp;&nbsp; 1406400 | 451934 |
| GoTo Gojek Tokopedia Tbk PT<sup>(a)</sup> | &nbsp;&nbsp; 147487900 | 482643 |
| Indah Kiat Pulp & Paper Tbk PT | &nbsp;&nbsp; 527200 | 271154 |
| Indofood CBP Sukses Makmur Tbk PT | &nbsp;&nbsp; 324000 | 217694 |
| Indofood Sukses Makmur Tbk PT | &nbsp;&nbsp; 591300 | 222738 |
| Kalbe Farma Tbk PT | &nbsp;&nbsp; 4383700 | 428664 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Indonesia (continued)** | **Indonesia (continued)** | **Indonesia (continued)** |
| Merdeka Copper Gold Tbk PT<sup>(a)</sup> | &nbsp;&nbsp; 1877107 | $284634 |
| Sumber Alfaria Trijaya Tbk PT | &nbsp;&nbsp; 2856700 | 498956 |
| Telkom Indonesia Persero Tbk PT | &nbsp;&nbsp; 8332300 | 1479853 |
| Unilever Indonesia Tbk PT | &nbsp;&nbsp; 1379500 | 207147 |
| United Tractors Tbk PT | &nbsp;&nbsp; 246945 | 391832 |
|  |  | 21168491 |
| **Ireland — 0.2%** | **Ireland — 0.2%** | **Ireland — 0.2%** |
| AIB Group PLC | &nbsp;&nbsp; 260049 | 1491663 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 167462 | 1896496 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 26129 | 2442950 |
| Kingspan Group PLC | &nbsp;&nbsp; 27634 | 2585553 |
|  |  | 8416662 |
| **Israel — 0.5%** | **Israel — 0.5%** | **Israel — 0.5%** |
| Azrieli Group Ltd. | &nbsp;&nbsp; 8709 | 534536 |
| Bank Hapoalim BM | &nbsp;&nbsp; 213421 | 1958423 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 257689 | 2220632 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 16036 | 2941804 |
| CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 7519 | 1927721 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 4764 | 852685 |
| Global-e Online Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 17003 | 583543 |
| ICL Group Ltd. | &nbsp;&nbsp; 121488 | 508558 |
| Isracard Ltd. | &nbsp;&nbsp; 1 | 2 |
| Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 225396 | 1150650 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 28409 | 1025175 |
| Monday.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6461 | 1484802 |
| Nice Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 10829 | 1954516 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 192660 | 3358064 |
| Wix.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 9434 | 1470996 |
|  |  | 21972107 |
| **Italy — 1.7%** | **Italy — 1.7%** | **Italy — 1.7%** |
| Amplifon SpA | &nbsp;&nbsp; 21136 | 671288 |
| Banco BPM SpA | &nbsp;&nbsp; 223697 | 1548804 |
| Davide Campari-Milano NV | &nbsp;&nbsp; 96540 | 870643 |
| DiaSorin SpA | &nbsp;&nbsp; 4233 | 461697 |
| Enel SpA | &nbsp;&nbsp; 1383159 | 9874613 |
| Eni SpA | &nbsp;&nbsp; 371129 | 5937987 |
| Ferrari NV | &nbsp;&nbsp; 21692 | 8927833 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 99706 | 1692631 |
| Generali | &nbsp;&nbsp; 168649 | 4365144 |
| Infrastrutture Wireless Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 67213 | 747894 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 2538725 | 10309336 |
| Leonardo SpA | &nbsp;&nbsp; 50329 | 1199107 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 95149 | 1544576 |
| Moncler SpA | &nbsp;&nbsp; 37942 | 2262332 |
| Nexi SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 104646 | 642283 |
| Poste Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 79313 | 1073703 |
| Prysmian SpA | &nbsp;&nbsp; 45420 | 3122375 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 17801 | 969143 |
| Snam SpA | &nbsp;&nbsp; 350145 | 1673212 |
| Stellantis NV | &nbsp;&nbsp; 378165 | 6301764 |
| Telecom Italia SpA/Milano<sup>(a)</sup> | &nbsp;&nbsp; 1618345 | 396676 |
| Tenaris SA, NVS | &nbsp;&nbsp; 82350 | 1306633 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 239804 | 1996909 |
| UniCredit SpA | &nbsp;&nbsp; 261069 | 10723331 |
|  |  | 78619914 |
| **Japan — 14.9%** | **Japan — 14.9%** | **Japan — 14.9%** |
| Advantest Corp. | &nbsp;&nbsp; 133800 | 5922170 |
| Aeon Co. Ltd. | &nbsp;&nbsp; 112300 | 2562302 |
| AGC Inc. | &nbsp;&nbsp; 35600 | 1274115 |
| Aisin Corp. | &nbsp;&nbsp; 28800 | 971596 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 81100 | 3340123 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| ANA Holdings Inc. | &nbsp;&nbsp; 22600 | $432287 |
| Asahi Group Holdings Ltd. | &nbsp;&nbsp; 83700 | 3081263 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 209400 | 1510039 |
| Asics Corp. | &nbsp;&nbsp; 114600 | 1870310 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 309400 | 3588406 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 104400 | 2218578 |
| Bridgestone Corp. | &nbsp;&nbsp; 98600 | 4020281 |
| Brother Industries Ltd. | &nbsp;&nbsp; 42700 | 876048 |
| Canon Inc. | &nbsp;&nbsp; 167400 | 5239904 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 59800 | 1277562 |
| Central Japan Railway Co. | &nbsp;&nbsp; 130800 | 3083864 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 93600 | 876795 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 106400 | 1341546 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 113800 | 4966513 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 173500 | 1093486 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 36300 | 1194205 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 55500 | 1004455 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 155000 | 4725996 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 316000 | 12869942 |
| Daikin Industries Ltd. | &nbsp;&nbsp; 45200 | 6554296 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 9600 | 1154497 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 93700 | 2653432 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 232700 | 1921193 |
| Denso Corp. | &nbsp;&nbsp; 323200 | 5300159 |
| Dentsu Group Inc. | &nbsp;&nbsp; 37600 | 994265 |
| Disco Corp. | &nbsp;&nbsp; 16100 | 5383784 |
| East Japan Railway Co. | &nbsp;&nbsp; 152700 | 2909455 |
| Eisai Co. Ltd. | &nbsp;&nbsp; 44000 | 1677981 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 501000 | 2625010 |
| FANUC Corp. | &nbsp;&nbsp; 163500 | 4847244 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 30200 | 8324592 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 22900 | 1288054 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 189000 | 4493650 |
| Fujitsu Ltd. | &nbsp;&nbsp; 300600 | 5458943 |
| Hamamatsu Photonics KK | &nbsp;&nbsp; 24900 | 717094 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 41200 | 1175598 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 3100 | 580488 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 19000 | 473235 |
| Hitachi Ltd. | &nbsp;&nbsp; 790200 | 17073585 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 766300 | 8187588 |
| Hoshizaki Corp. | &nbsp;&nbsp; 19300 | 607830 |
| Hoya Corp. | &nbsp;&nbsp; 59900 | 7505514 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 65500 | 639352 |
| Ibiden Co. Ltd. | &nbsp;&nbsp; 19900 | 771367 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 167460 | 1102944 |
| Inpex Corp. | &nbsp;&nbsp; 160900 | 2484535 |
| Isuzu Motors Ltd. | &nbsp;&nbsp; 98100 | 1327011 |
| ITOCHU Corp. | &nbsp;&nbsp; 202400 | 10379765 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 26200 | 424515 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 87100 | 2044970 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 247400 | 2574486 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 359600 | 3808329 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 34400 | 708211 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 222 | 770008 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 203500 | 5988024 |
| JFE Holdings Inc. | &nbsp;&nbsp; 94600 | 1385735 |
| Kajima Corp. | &nbsp;&nbsp; 71000 | 1371970 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 121000 | 2071011 |
| Kao Corp. | &nbsp;&nbsp; 79500 | 3481279 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 71800 | 1103218 |
| KDDI Corp. | &nbsp;&nbsp; 255600 | 7691005 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 23200 | 693890 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Keyence Corp. | &nbsp;&nbsp; 33500 | $14648214 |
| Kikkoman Corp. | &nbsp;&nbsp; 117700 | 1472891 |
| Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp; 33300 | 771234 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 130400 | 1843539 |
| Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 27400 | 735658 |
| Koito Manufacturing Co. Ltd. | &nbsp;&nbsp; 39000 | 576666 |
| Komatsu Ltd. | &nbsp;&nbsp; 158800 | 4514299 |
| Konami Group Corp. | &nbsp;&nbsp; 17200 | 1294121 |
| Kubota Corp. | &nbsp;&nbsp; 167700 | 2411008 |
| Kyocera Corp. | &nbsp;&nbsp; 224100 | 2822531 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 46500 | 980806 |
| Lasertec Corp. | &nbsp;&nbsp; 14000 | 2484064 |
| LY Corp. | &nbsp;&nbsp; 434500 | 1087082 |
| M3 Inc. | &nbsp;&nbsp; 79000 | 737643 |
| Makita Corp. | &nbsp;&nbsp; 42300 | 1394311 |
| Marubeni Corp. | &nbsp;&nbsp; 243500 | 4582612 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 60000 | 978474 |
| Mazda Motor Corp. | &nbsp;&nbsp; 97200 | 838390 |
| McDonald's Holdings Co. Japan Ltd. | &nbsp;&nbsp; 15200 | 629723 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 41180 | 1039975 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 65600 | 1577963 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 223900 | 1322408 |
| Mitsubishi Corp. | &nbsp;&nbsp; 570800 | 11788192 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 326300 | 5436734 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 192100 | 3274138 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 139400 | 1002902 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 550700 | 6600732 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 1891200 | 21844023 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 439400 | 10195787 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 30900 | 893381 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 455400 | 4717880 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 60300 | 1915318 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 413060 | 9442611 |
| MonotaRO Co. Ltd. | &nbsp;&nbsp; 45600 | 644615 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 217600 | 5129819 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 293600 | 6532005 |
| NEC Corp. | &nbsp;&nbsp; 43500 | 3765127 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 54800 | 1180321 |
| Nidec Corp. | &nbsp;&nbsp; 72200 | 3176126 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 177600 | 9813890 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 263 | 1014983 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 13400 | 663043 |
| Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp; 167600 | 1069870 |
| Nippon Prologis REIT Inc. | &nbsp;&nbsp; 437 | 722010 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 30700 | 1003329 |
| Nippon Steel Corp. | &nbsp;&nbsp; 148286 | 3219644 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 5103900 | 5439294 |
| Nippon Yusen KK | &nbsp;&nbsp; 79700 | 2568243 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 21200 | 684038 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 406200 | 1289329 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 35600 | 1058487 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 14300 | 1748825 |
| Nitto Denko Corp. | &nbsp;&nbsp; 24000 | 2084003 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 517000 | 3187619 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 19200 | 536730 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 697 | 683791 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 67100 | 2071490 |
| NTT Data Group Corp. | &nbsp;&nbsp; 106600 | 1660233 |
| Obayashi Corp. | &nbsp;&nbsp; 114100 | 1498056 |
| Obic Co. Ltd. | &nbsp;&nbsp; 11000 | 1677314 |
| Olympus Corp. | &nbsp;&nbsp; 196800 | 3397572 |
| Omron Corp. | &nbsp;&nbsp; 28100 | 1042337 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 61700 | $910218 |
| Oracle Corp./Japan | &nbsp;&nbsp; 6500 | 530590 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 184600 | 5285006 |
| ORIX Corp. | &nbsp;&nbsp; 195300 | 4724237 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 64700 | 1464429 |
| Otsuka Corp. | &nbsp;&nbsp; 38400 | 851243 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 71500 | 3644234 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 66200 | 1727106 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 394300 | 3229782 |
| Rakuten Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 250200 | 1467842 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 252900 | 14502118 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 256500 | 4417923 |
| Resona Holdings Inc. | &nbsp;&nbsp; 375100 | 2689818 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 100700 | 937447 |
| Rohm Co. Ltd. | &nbsp;&nbsp; 62200 | 848049 |
| SBI Holdings Inc. | &nbsp;&nbsp; 44600 | 1159316 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 14300 | 1211778 |
| SCSK Corp. | &nbsp;&nbsp; 26900 | 529605 |
| Secom Co. Ltd. | &nbsp;&nbsp; 35400 | 2260387 |
| Seiko Epson Corp. | &nbsp;&nbsp; 49100 | 849941 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 66000 | 995808 |
| Sekisui House Ltd. | &nbsp;&nbsp; 98700 | 2473059 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 382500 | 4580343 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 56700 | 576562 |
| Shimadzu Corp. | &nbsp;&nbsp; 42200 | 1244659 |
| Shimano Inc. | &nbsp;&nbsp; 13400 | 2377214 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 307100 | 13644660 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 43100 | 1895929 |
| Shiseido Co. Ltd. | &nbsp;&nbsp; 70300 | 2196976 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 79100 | 790074 |
| SMC Corp. | &nbsp;&nbsp; 10000 | 4865652 |
| SoftBank Corp. | &nbsp;&nbsp; 487800 | 6363230 |
| SoftBank Group Corp. | &nbsp;&nbsp; 175700 | 10737451 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 151800 | 3461331 |
| Sony Group Corp. | &nbsp;&nbsp; 212500 | 18873951 |
| Subaru Corp. | &nbsp;&nbsp; 102600 | 1972639 |
| SUMCO Corp. | &nbsp;&nbsp; 64200 | 1055473 |
| Sumitomo Corp. | &nbsp;&nbsp; 176100 | 4375652 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 123100 | 1862142 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 42400 | 1292949 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 213100 | 15388573 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 115400 | 2916947 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 47700 | 1576615 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 23300 | 836846 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 265400 | 3050025 |
| Sysmex Corp. | &nbsp;&nbsp; 89600 | 1466865 |
| T&D Holdings Inc. | &nbsp;&nbsp; 84300 | 1580266 |
| Taisei Corp. | &nbsp;&nbsp; 31600 | 1342095 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 264713 | 7431623 |
| TDK Corp. | &nbsp;&nbsp; 67100 | 4681050 |
| Terumo Corp. | &nbsp;&nbsp; 228000 | 4087664 |
| TIS Inc. | &nbsp;&nbsp; 35200 | 754034 |
| Toho Co. Ltd./Tokyo | &nbsp;&nbsp; 19500 | 700288 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 320300 | 12566364 |
| Tokyo Electric Power Co. Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 266700 | 1335836 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 81300 | 17011810 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 63800 | 1397834 |
| Tokyu Corp. | &nbsp;&nbsp; 88400 | 1071000 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 38700 | 1094674 |
| Toray Industries Inc. | &nbsp;&nbsp; 230400 | 1197862 |
| TOTO Ltd. | &nbsp;&nbsp; 23800 | 655337 |
| Toyota Industries Corp. | &nbsp;&nbsp; 25900 | 2177415 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Toyota Motor Corp. | &nbsp;&nbsp; 1809400 | $34759940 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 111700 | 2233220 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 23200 | 1112034 |
| Unicharm Corp. | &nbsp;&nbsp; 69700 | 2334992 |
| West Japan Railway Co. | &nbsp;&nbsp; 76400 | 1504089 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 43500 | 891986 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 147600 | 1374448 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 45100 | 547743 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 42500 | 1479162 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 42500 | 1075770 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 17200 | 700105 |
| ZOZO Inc. | &nbsp;&nbsp; 23500 | 687961 |
|  |  | 678387647 |
| **Kuwait — 0.2%** | **Kuwait — 0.2%** | **Kuwait — 0.2%** |
| Boubyan Bank KSCP | &nbsp;&nbsp; 314605 | 609349 |
| Gulf Bank KSCP | &nbsp;&nbsp; 310844 | 316286 |
| Kuwait Finance House KSCP | &nbsp;&nbsp; 1753598 | 4229027 |
| Mabanee Co. KPSC | &nbsp;&nbsp; 127331 | 349749 |
| Mobile Telecommunications Co. KSCP | &nbsp;&nbsp; 377037 | 562825 |
| National Bank of Kuwait SAKP | &nbsp;&nbsp; 1305849 | 3871935 |
|  |  | 9939171 |
| **Malaysia — 0.4%** | **Malaysia — 0.4%** | **Malaysia — 0.4%** |
| AMMB Holdings Bhd | &nbsp;&nbsp; 162000 | 159179 |
| Axiata Group Bhd | &nbsp;&nbsp; 561100 | 293423 |
| CELCOMDIGI Bhd | &nbsp;&nbsp; 666100 | 551303 |
| CIMB Group Holdings Bhd | &nbsp;&nbsp; 1030300 | 1665921 |
| Gamuda Bhd | &nbsp;&nbsp; 304700 | 521070 |
| Genting Bhd | &nbsp;&nbsp; 386400 | 398170 |
| Genting Malaysia Bhd | &nbsp;&nbsp; 529800 | 300191 |
| Hong Leong Bank Bhd | &nbsp;&nbsp; 138300 | 580679 |
| IHH Healthcare Bhd | &nbsp;&nbsp; 460400 | 631303 |
| Inari Amertron Bhd | &nbsp;&nbsp; 551900 | 455028 |
| IOI Corp. Bhd | &nbsp;&nbsp; 576800 | 479901 |
| Kuala Lumpur Kepong Bhd | &nbsp;&nbsp; 81700 | 375127 |
| Malayan Banking Bhd | &nbsp;&nbsp; 909600 | 2023313 |
| Malaysia Airports Holdings Bhd | &nbsp;&nbsp; 204200 | 455324 |
| Maxis Bhd | &nbsp;&nbsp; 554900 | 426335 |
| MISC Bhd | &nbsp;&nbsp; 168200 | 321793 |
| MR DIY Group M Bhd<sup>(c)</sup> | &nbsp;&nbsp; 574000 | 262459 |
| Petronas Chemicals Group Bhd | &nbsp;&nbsp; 445300 | 562326 |
| Petronas Dagangan Bhd | &nbsp;&nbsp; 61800 | 238618 |
| Petronas Gas Bhd | &nbsp;&nbsp; 167800 | 665132 |
| PPB Group Bhd | &nbsp;&nbsp; 179200 | 578731 |
| Press Metal Aluminium Holdings Bhd | &nbsp;&nbsp; 718200 | 838552 |
| Public Bank Bhd | &nbsp;&nbsp; 2536300 | 2325181 |
| RHB Bank Bhd | &nbsp;&nbsp; 357995 | 444994 |
| Sime Darby Bhd | &nbsp;&nbsp; 511200 | 289539 |
| Sime Darby Plantation Bhd | &nbsp;&nbsp; 398500 | 388035 |
| Telekom Malaysia Bhd | &nbsp;&nbsp; 131500 | 199704 |
| Tenaga Nasional Bhd | &nbsp;&nbsp; 381800 | 1170039 |
| YTL Corp. Bhd | &nbsp;&nbsp; 591500 | 439933 |
| YTL Power International Bhd | &nbsp;&nbsp; 498700 | 507072 |
|  |  | 18548375 |
| **Mexico — 0.6%** | **Mexico — 0.6%** | **Mexico — 0.6%** |
| Alfa SAB de CV, Class A | &nbsp;&nbsp; 398100 | 228847 |
| America Movil SAB de CV | &nbsp;&nbsp; 3101274 | 2590082 |
| Arca Continental SAB de CV | &nbsp;&nbsp; 79000 | 777407 |
| Banco del Bajio SA<sup>(c)</sup> | &nbsp;&nbsp; 126200 | 376074 |
| Cemex SAB de CV, NVS | &nbsp;&nbsp; 2581508 | 1668260 |
| Coca-Cola Femsa SAB de CV | &nbsp;&nbsp; 87400 | 793078 |
| Fibra Uno Administracion SA de CV | &nbsp;&nbsp; 526200 | 668800 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Mexico (continued)** | **Mexico (continued)** | **Mexico (continued)** |
| Fomento Economico Mexicano SAB de CV | &nbsp;&nbsp; 328900 | $3632005 |
| Gruma SAB de CV, Class B | &nbsp;&nbsp; 28215 | 527500 |
| Grupo Aeroportuario del Centro Norte SAB de CV, <br> Class B<br>| &nbsp;&nbsp; 51342 | 440751 |
| Grupo Aeroportuario del Pacifico SAB de CV, <br> Class B<br>| &nbsp;&nbsp; 65050 | 1037846 |
| Grupo Aeroportuario del Sureste SAB de CV, <br> Class B<br>| &nbsp;&nbsp; 31090 | 937489 |
| Grupo Bimbo SAB de CV, Series A | &nbsp;&nbsp; 234600 | 820615 |
| Grupo Carso SAB de CV, Series A1 | &nbsp;&nbsp; 99800 | 641728 |
| Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp; 442200 | 3313593 |
| Grupo Financiero Inbursa SAB de CV, Class O<sup>(a)</sup> | &nbsp;&nbsp; 335300 | 816519 |
| Grupo Mexico SAB de CV, Series B | &nbsp;&nbsp; 539729 | 3041788 |
| Industrias Penoles SAB de CV<sup>(a)</sup> | &nbsp;&nbsp; 33955 | 496048 |
| Kimberly-Clark de Mexico SAB de CV, Class A | &nbsp;&nbsp; 329400 | 585922 |
| Operadora De Sites Mexicanos SAB de CV | &nbsp;&nbsp; 281800 | 244425 |
| Orbia Advance Corp. SAB de CV | &nbsp;&nbsp; 185900 | 238574 |
| Prologis Property Mexico SA de CV | &nbsp;&nbsp; 126661 | 422861 |
| Promotora y Operadora de Infraestructura SAB <br> de CV<br>| &nbsp;&nbsp; 31720 | 297910 |
| Wal-Mart de Mexico SAB de CV | &nbsp;&nbsp; 871200 | 2897298 |
|  |  | 27495420 |
| **Netherlands — 3.2%** | **Netherlands — 3.2%** | **Netherlands — 3.2%** |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 73786 | 1288071 |
| Adyen NV<sup>(a)(c)</sup> | &nbsp;&nbsp; 3731 | 4563902 |
| Aegon Ltd. | &nbsp;&nbsp; 248415 | 1607556 |
| AerCap Holdings NV | &nbsp;&nbsp; 35429 | 3328555 |
| Akzo Nobel NV | &nbsp;&nbsp; 29997 | 1854781 |
| ASM International NV | &nbsp;&nbsp; 8111 | 5580538 |
| ASML Holding NV | &nbsp;&nbsp; 68538 | 63820619 |
| ASR Nederland NV | &nbsp;&nbsp; 27106 | 1361866 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 13528 | 1742739 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 34744 | 2563065 |
| DSM-Firmenich AG | &nbsp;&nbsp; 31274 | 3992717 |
| EXOR NV, NVS | &nbsp;&nbsp; 16637 | 1705499 |
| Heineken Holding NV | &nbsp;&nbsp; 22981 | 1693481 |
| Heineken NV | &nbsp;&nbsp; 49471 | 4390094 |
| IMCD NV | &nbsp;&nbsp; 9768 | 1404574 |
| ING Groep NV | &nbsp;&nbsp; 566188 | 10276847 |
| InPost SA<sup>(a)</sup> | &nbsp;&nbsp; 34499 | 597714 |
| JDE Peet's NV | &nbsp;&nbsp; 19671 | 432579 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 159617 | 5142092 |
| Koninklijke KPN NV | &nbsp;&nbsp; 648623 | 2555694 |
| Koninklijke Philips NV<sup>(a)</sup> | &nbsp;&nbsp; 137610 | 3865421 |
| NN Group NV | &nbsp;&nbsp; 46478 | 2332459 |
| OCI NV | &nbsp;&nbsp; 18463 | 444965 |
| Prosus NV | &nbsp;&nbsp; 242650 | 8464428 |
| Randstad NV | &nbsp;&nbsp; 17421 | 848489 |
| Universal Music Group NV | &nbsp;&nbsp; 140968 | 3358488 |
| Wolters Kluwer NV | &nbsp;&nbsp; 42853 | 7173990 |
|  |  | 146391223 |
| **New Zealand — 0.1%** | **New Zealand — 0.1%** | **New Zealand — 0.1%** |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 209257 | 931554 |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 97644 | 1885001 |
| Mercury NZ Ltd. | &nbsp;&nbsp; 108642 | 444849 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 251905 | 974488 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 359917 | 924980 |
|  |  | 5160872 |
| **Norway — 0.4%** | **Norway — 0.4%** | **Norway — 0.4%** |
| Aker BP ASA | &nbsp;&nbsp; 51410 | 1244852 |
| DNB Bank ASA | &nbsp;&nbsp; 148796 | 3074131 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| Equinor ASA | &nbsp;&nbsp; 153869 | $4074481 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 34732 | 587588 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 15435 | 1552061 |
| Mowi ASA | &nbsp;&nbsp; 80243 | 1354382 |
| Norsk Hydro ASA | &nbsp;&nbsp; 228177 | 1265665 |
| Orkla ASA | &nbsp;&nbsp; 114996 | 970508 |
| Salmar ASA | &nbsp;&nbsp; 12641 | 727298 |
| Telenor ASA | &nbsp;&nbsp; 112847 | 1344574 |
| Yara International ASA | &nbsp;&nbsp; 28228 | 804112 |
|  |  | 16999652 |
| **Peru — 0.1%** | **Peru — 0.1%** | **Peru — 0.1%** |
| Cia. de Minas Buenaventura SAA, ADR | &nbsp;&nbsp; 30531 | 473231 |
| Credicorp Ltd. | &nbsp;&nbsp; 11688 | 1994440 |
| Southern Copper Corp. | &nbsp;&nbsp; 14309 | 1525482 |
|  |  | 3993153 |
| **Philippines — 0.2%** | **Philippines — 0.2%** | **Philippines — 0.2%** |
| Ayala Corp. | &nbsp;&nbsp; 34730 | 349344 |
| Ayala Land Inc. | &nbsp;&nbsp; 1259620 | 637734 |
| Bank of the Philippine Islands | &nbsp;&nbsp; 293953 | 610813 |
| BDO Unibank Inc. | &nbsp;&nbsp; 406814 | 956946 |
| International Container Terminal Services Inc. | &nbsp;&nbsp; 203640 | 1241888 |
| JG Summit Holdings Inc. | &nbsp;&nbsp; 678230 | 322991 |
| Jollibee Foods Corp. | &nbsp;&nbsp; 105050 | 414566 |
| Manila Electric Co. | &nbsp;&nbsp; 13030 | 87052 |
| Metropolitan Bank & Trust Co. | &nbsp;&nbsp; 492208 | 579187 |
| PLDT Inc. | &nbsp;&nbsp; 15770 | 409479 |
| SM Investments Corp. | &nbsp;&nbsp; 34795 | 542296 |
| SM Prime Holdings Inc. | &nbsp;&nbsp; 1848200 | 913186 |
| Universal Robina Corp. | &nbsp;&nbsp; 111110 | 226501 |
|  |  | 7291983 |
| **Poland — 0.3%** | **Poland — 0.3%** | **Poland — 0.3%** |
| Allegro.eu SA <sup>(a)(c)</sup> | &nbsp;&nbsp; 99892 | 917610 |
| Bank Polska Kasa Opieki SA | &nbsp;&nbsp; 30105 | 1219587 |
| Budimex SA | &nbsp;&nbsp; 2103 | 338438 |
| CD Projekt SA | &nbsp;&nbsp; 11722 | 470538 |
| Dino Polska SA<sup>(a)(c)</sup> | &nbsp;&nbsp; 8448 | 750232 |
| KGHM Polska Miedz SA | &nbsp;&nbsp; 25446 | 874759 |
| LPP SA | &nbsp;&nbsp; 192 | 736117 |
| mBank SA<sup>(a)</sup> | &nbsp;&nbsp; 2371 | 372734 |
| ORLEN SA | &nbsp;&nbsp; 97216 | 1585209 |
| PGE Polska Grupa Energetyczna SA<sup>(a)</sup> | &nbsp;&nbsp; 166457 | 306477 |
| Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp; 150444 | 2235812 |
| Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp; 101171 | 1238952 |
| Santander Bank Polska SA | &nbsp;&nbsp; 6539 | 861699 |
|  |  | 11908164 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| Banco Espirito Santo SA, Registered,NVS<sup>(d)(e)</sup> | &nbsp;&nbsp; 4 |  |
| EDP Renovaveis SA | &nbsp;&nbsp; 58959 | 916579 |
| EDP SA | &nbsp;&nbsp; 544704 | 2244979 |
| Galp Energia SGPS SA | &nbsp;&nbsp; 83321 | 1751941 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 47492 | 830081 |
|  |  | 5743580 |
| **Qatar — 0.2%** | **Qatar — 0.2%** | **Qatar — 0.2%** |
| Barwa Real Estate Co. | &nbsp;&nbsp; 298500 | 227391 |
| Commercial Bank PSQC (The) | &nbsp;&nbsp; 551351 | 631692 |
| Dukhan Bank | &nbsp;&nbsp; 216422 | 222125 |
| Industries Qatar QSC | &nbsp;&nbsp; 266031 | 955670 |
| Masraf Al Rayan QSC | &nbsp;&nbsp; 957559 | 611488 |
| Mesaieed Petrochemical Holding Co. | &nbsp;&nbsp; 799696 | 366617 |
| Ooredoo QPSC | &nbsp;&nbsp; 204255 | 585186 |
| Qatar Electricity & Water Co. QSC | &nbsp;&nbsp; 116982 | 493269 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Qatar (continued)** | **Qatar (continued)** | **Qatar (continued)** |
| Qatar Fuel QSC | &nbsp;&nbsp; 91366 | $369221 |
| Qatar Gas Transport Co. Ltd. | &nbsp;&nbsp; 461930 | 570665 |
| Qatar International Islamic Bank QSC | &nbsp;&nbsp; 137957 | 394487 |
| Qatar Islamic Bank QPSC | &nbsp;&nbsp; 287901 | 1553836 |
| Qatar National Bank QPSC | &nbsp;&nbsp; 770014 | 3223812 |
|  |  | 10205459 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Alrosa PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 504040 | 59 |
| Gazprom PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 2086234 | 245 |
| GMK Norilskiy Nickel PAO<sup>(a)(d)</sup> | &nbsp;&nbsp; 1140000 | 1 |
| Inter RAO UES PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 5597000 | 659 |
| LUKOIL PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 71534 | 8 |
| Mobile TeleSystems PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 193438 | 23 |
| Moscow Exchange MICEX-RTS PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 287200 | 34 |
| Novatek PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 162260 | 19 |
| Novolipetsk Steel PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 223890 | 26 |
| Ozon Holdings PLC, ADR<sup>(a)(d)</sup> | &nbsp;&nbsp; 8288 | 1 |
| PhosAgro PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 9664 | 1 |
| PhosAgro PJSC, GDR<sup>(a)(d)(e)</sup> | &nbsp;&nbsp; 1 |  |
| PhosAgro PJSC, New<sup>(a)(d)</sup> | &nbsp;&nbsp; 187 | 2 |
| Polyus PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 5198 | 1 |
| Rosneft Oil Co. PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 165180 | 19 |
| Sberbank of Russia PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 1882550 | 222 |
| Severstal PAO<sup>(a)(d)</sup> | &nbsp;&nbsp; 30098 | 4 |
| Surgutneftegas PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 1575550 | 185 |
| Tatneft PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 206881 | 24 |
| TCS Group Holding PLC, GDR<sup>(a)(d)(e)</sup> | &nbsp;&nbsp; 20990 | 3 |
| United Co. RUSAL International PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 563790 | 66 |
| VK Co. Ltd.<sup>(a)(d)</sup> | &nbsp;&nbsp; 21979 | 3 |
| VTB Bank PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 98760 |  |
| X5 Retail Group NV, GDR<sup>(a)(d)</sup> | &nbsp;&nbsp; 16185 | 2 |
| Yandex NV<sup>(a)(d)</sup> | &nbsp;&nbsp; 54504 | 6 |
|  |  | 1613 |
| **Saudi Arabia — 1.1%** | **Saudi Arabia — 1.1%** | **Saudi Arabia — 1.1%** |
| ACWA Power Co. | &nbsp;&nbsp; 25309 | 2664531 |
| Ades Holding Co.<sup>(a)</sup> | &nbsp;&nbsp; 56220 | 305682 |
| Advanced Petrochemical Co.<sup>(a)</sup> | &nbsp;&nbsp; 30172 | 321672 |
| Al Rajhi Bank | &nbsp;&nbsp; 336863 | 7680739 |
| Alinma Bank | &nbsp;&nbsp; 209534 | 1809757 |
| Almarai Co. JSC | &nbsp;&nbsp; 34320 | 552750 |
| Arab National Bank | &nbsp;&nbsp; 139503 | 797920 |
| Arabian Internet & Communications Services Co. | &nbsp;&nbsp; 3379 | 264876 |
| Bank AlBilad | &nbsp;&nbsp; 118059 | 1157133 |
| Bank Al-Jazira<sup>(a)</sup> | &nbsp;&nbsp; 104204 | 477646 |
| Banque Saudi Fransi | &nbsp;&nbsp; 106654 | 1051774 |
| Bupa Arabia for Cooperative Insurance Co. | &nbsp;&nbsp; 14855 | 912229 |
| Co. for Cooperative Insurance (The) | &nbsp;&nbsp; 11647 | 446906 |
| Dallah Healthcare Co. | &nbsp;&nbsp; 7637 | 337079 |
| Dar Al Arkan Real Estate Development Co.<sup>(a)</sup> | &nbsp;&nbsp; 111415 | 402079 |
| Dr Sulaiman Al Habib Medical Services Group Co. | &nbsp;&nbsp; 14677 | 1126623 |
| Elm Co. | &nbsp;&nbsp; 4093 | 998180 |
| Etihad Etisalat Co. | &nbsp;&nbsp; 64320 | 893428 |
| Jarir Marketing Co. | &nbsp;&nbsp; 132577 | 458957 |
| Mobile Telecommunications Co. Saudi Arabia | &nbsp;&nbsp; 78884 | 228889 |
| Mouwasat Medical Services Co. | &nbsp;&nbsp; 15622 | 502661 |
| Nahdi Medical Co. | &nbsp;&nbsp; 4625 | 163755 |
| Power & Water Utility Co. for Jubail & Yanbu | &nbsp;&nbsp; 10998 | 180523 |
| Riyad Bank | &nbsp;&nbsp; 249275 | 1823543 |
| SABIC Agri-Nutrients Co. | &nbsp;&nbsp; 37313 | 1170824 |
| Sahara International Petrochemical Co. | &nbsp;&nbsp; 59427 | 452218 |
| SAL Saudi Logistics Services | &nbsp;&nbsp; 3907 | 327408 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Saudi Arabia (continued)** | **Saudi Arabia (continued)** | **Saudi Arabia (continued)** |
| Saudi Arabian Mining Co.<sup>(a)</sup> | &nbsp;&nbsp; 227539 | $2612660 |
| Saudi Arabian Oil Co.<sup>(c)</sup> | &nbsp;&nbsp; 619451 | 4557192 |
| Saudi Aramco Base Oil Co. | &nbsp;&nbsp; 8355 | 289719 |
| Saudi Awwal Bank | &nbsp;&nbsp; 165669 | 1733446 |
| Saudi Basic Industries Corp. | &nbsp;&nbsp; 157271 | 3303114 |
| Saudi Electricity Co. | &nbsp;&nbsp; 177530 | 808884 |
| Saudi Industrial Investment Group | &nbsp;&nbsp; 49108 | 267369 |
| Saudi Investment Bank (The) | &nbsp;&nbsp; 96363 | 328241 |
| Saudi Kayan Petrochemical Co.<sup>(a)</sup> | &nbsp;&nbsp; 145384 | 316126 |
| Saudi National Bank (The) | &nbsp;&nbsp; 500708 | 5059334 |
| Saudi Research & Media Group<sup>(a)</sup> | &nbsp;&nbsp; 5783 | 402374 |
| Saudi Tadawul Group Holding Co. | &nbsp;&nbsp; 8179 | 504716 |
| Saudi Telecom Co. | &nbsp;&nbsp; 335423 | 3445439 |
| Savola Group (The)<sup>(a)</sup> | &nbsp;&nbsp; 44026 | 535540 |
| Yanbu National Petrochemical Co. | &nbsp;&nbsp; 38998 | 420445 |
|  |  | 52094381 |
| **Singapore — 0.9%** | **Singapore — 0.9%** | **Singapore — 0.9%** |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 669077 | 1365960 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 887221 | 1385871 |
| CapitaLand Investment Ltd./Singapore | &nbsp;&nbsp; 430800 | 873461 |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 338290 | 9270300 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 1044800 | 663921 |
| Grab Holdings Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 373916 | 1233923 |
| Keppel Ltd. | &nbsp;&nbsp; 254400 | 1266115 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 572375 | 6370903 |
| Sea Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 62653 | 4116302 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 151000 | 539911 |
| Singapore Airlines Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 237350 | 1240370 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 122700 | 904655 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 292200 | 967409 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 1406500 | 3258392 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 214000 | 5189218 |
| Wilmar International Ltd. | &nbsp;&nbsp; 320800 | 764958 |
|  |  | 39411669 |
| **South Africa — 0.9%** | **South Africa — 0.9%** | **South Africa — 0.9%** |
| Absa Group Ltd. | &nbsp;&nbsp; 143424 | 1258430 |
| Anglo American Platinum Ltd. | &nbsp;&nbsp; 10819 | 419944 |
| Anglogold Ashanti PLC, NVS | &nbsp;&nbsp; 71975 | 2072558 |
| Aspen Pharmacare Holdings Ltd. | &nbsp;&nbsp; 69725 | 964224 |
| Bid Corp. Ltd. | &nbsp;&nbsp; 61762 | 1537259 |
| Bidvest Group Ltd. (The) | &nbsp;&nbsp; 58158 | 874066 |
| Capitec Bank Holdings Ltd. | &nbsp;&nbsp; 15957 | 2488589 |
| Clicks Group Ltd. | &nbsp;&nbsp; 48001 | 933005 |
| Discovery Ltd. | &nbsp;&nbsp; 86666 | 679528 |
| Exxaro Resources Ltd. | &nbsp;&nbsp; 49463 | 529952 |
| FirstRand Ltd. | &nbsp;&nbsp; 847407 | 3807749 |
| Gold Fields Ltd. | &nbsp;&nbsp; 151792 | 2642642 |
| Harmony Gold Mining Co. Ltd. | &nbsp;&nbsp; 99955 | 980119 |
| Impala Platinum Holdings Ltd. | &nbsp;&nbsp; 157206 | 807600 |
| Kumba Iron Ore Ltd. | &nbsp;&nbsp; 10822 | 236073 |
| MTN Group Ltd. | &nbsp;&nbsp; 288359 | 1251231 |
| Naspers Ltd., Class N | &nbsp;&nbsp; 30737 | 5944388 |
| Nedbank Group Ltd. | &nbsp;&nbsp; 67187 | 1028946 |
| NEPI Rockcastle NV | &nbsp;&nbsp; 87634 | 662674 |
| Northam Platinum Holdings Ltd. | &nbsp;&nbsp; 61093 | 478546 |
| Old Mutual Ltd. | &nbsp;&nbsp; 831317 | 562351 |
| OUTsurance Group Ltd., NVS | &nbsp;&nbsp; 123339 | 327098 |
| Pepkor Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 352090 | 395136 |
| Reinet Investments SCA | &nbsp;&nbsp; 22460 | 604771 |
| Remgro Ltd. | &nbsp;&nbsp; 86921 | 668116 |
| Sanlam Ltd. | &nbsp;&nbsp; 265799 | 1190167 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Africa (continued)** | **South Africa (continued)** | **South Africa (continued)** |
| Sasol Ltd. | &nbsp;&nbsp; 95800 | $776818 |
| Shoprite Holdings Ltd. | &nbsp;&nbsp; 82164 | 1376880 |
| Sibanye Stillwater Ltd. | &nbsp;&nbsp; 514853 | 587905 |
| Standard Bank Group Ltd. | &nbsp;&nbsp; 227278 | 2770088 |
| Vodacom Group Ltd. | &nbsp;&nbsp; 94484 | 530304 |
| Woolworths Holdings Ltd./South Africa | &nbsp;&nbsp; 187689 | 620391 |
|  |  | 40007548 |
| **South Korea — 3.3%** | **South Korea — 3.3%** | **South Korea — 3.3%** |
| Alteogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7028 | 1620526 |
| Amorepacific Corp. | &nbsp;&nbsp; 5055 | 671877 |
| Celltrion Inc. | &nbsp;&nbsp; 26204 | 3922648 |
| Celltrion Pharm Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4110 | 302001 |
| CJ CheilJedang Corp. | &nbsp;&nbsp; 1679 | 474081 |
| CosmoAM&T Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4283 | 407752 |
| Coway Co. Ltd. | &nbsp;&nbsp; 9795 | 448120 |
| DB Insurance Co. Ltd. | &nbsp;&nbsp; 8216 | 663829 |
| Doosan Bobcat Inc. | &nbsp;&nbsp; 10105 | 305820 |
| Doosan Enerbility Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 74390 | 1024552 |
| Ecopro BM Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 8350 | 1108626 |
| Ecopro Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 16996 | 1155414 |
| Ecopro Materials Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2174 | 129986 |
| GS Holdings Corp. | &nbsp;&nbsp; 8060 | 288542 |
| Hana Financial Group Inc. | &nbsp;&nbsp; 49555 | 2347818 |
| Hanjin Kal Corp. | &nbsp;&nbsp; 5042 | 255183 |
| Hankook Tire & Technology Co. Ltd. | &nbsp;&nbsp; 13242 | 432427 |
| Hanmi Pharm Co. Ltd. | &nbsp;&nbsp; 1490 | 314876 |
| Hanmi Semiconductor Co. Ltd. | &nbsp;&nbsp; 7492 | 721672 |
| Hanwha Aerospace Co. Ltd. | &nbsp;&nbsp; 6491 | 1361977 |
| Hanwha Ocean Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 15950 | 357089 |
| Hanwha Solutions Corp. | &nbsp;&nbsp; 21072 | 382926 |
| HD Hyundai Co. Ltd. | &nbsp;&nbsp; 7277 | 445945 |
| HD Hyundai Electric Co. Ltd. | &nbsp;&nbsp; 3823 | 865113 |
| HD Hyundai Heavy Industries Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3529 | 545359 |
| HD Korea Shipbuilding & Offshore Engineering <br> Co. Ltd.<sup>(a)</sup><br>| &nbsp;&nbsp; 7204 | 1092815 |
| HLB Inc.<sup>(a)</sup> | &nbsp;&nbsp; 19969 | 1186063 |
| HMM Co. Ltd. | &nbsp;&nbsp; 40563 | 539512 |
| HYBE Co. Ltd. | &nbsp;&nbsp; 3510 | 451507 |
| Hyundai Engineering & Construction Co. Ltd. | &nbsp;&nbsp; 13963 | 341157 |
| Hyundai Glovis Co. Ltd. | &nbsp;&nbsp; 6880 | 612374 |
| Hyundai Mobis Co. Ltd. | &nbsp;&nbsp; 10563 | 1708990 |
| Hyundai Motor Co. | &nbsp;&nbsp; 22700 | 4137073 |
| Hyundai Steel Co. | &nbsp;&nbsp; 16351 | 330851 |
| Industrial Bank of Korea | &nbsp;&nbsp; 49877 | 508936 |
| Kakao Corp. | &nbsp;&nbsp; 51912 | 1491798 |
| KakaoBank Corp. | &nbsp;&nbsp; 28434 | 446606 |
| KB Financial Group Inc. | &nbsp;&nbsp; 65144 | 4211304 |
| Kia Corp. | &nbsp;&nbsp; 44482 | 3650043 |
| Korea Aerospace Industries Ltd. | &nbsp;&nbsp; 13294 | 552519 |
| Korea Electric Power Corp.<sup>(a)</sup> | &nbsp;&nbsp; 41627 | 600743 |
| Korea Investment Holdings Co. Ltd. | &nbsp;&nbsp; 7140 | 383606 |
| Korea Zinc Co. Ltd. | &nbsp;&nbsp; 1500 | 531820 |
| Korean Air Lines Co. Ltd. | &nbsp;&nbsp; 26585 | 413171 |
| Krafton Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5064 | 1091892 |
| KT Corp. | &nbsp;&nbsp; 5053 | 147150 |
| KT&G Corp. | &nbsp;&nbsp; 16600 | 1131653 |
| Kum Yang Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6708 | 332796 |
| Kumho Petrochemical Co. Ltd. | &nbsp;&nbsp; 2949 | 299123 |
| L&F Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4515 | 377626 |
| LG Chem Ltd. | &nbsp;&nbsp; 8591 | 1931980 |
| LG Corp. | &nbsp;&nbsp; 15920 | 1015253 |
| LG Display Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 54745 | 449394 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| LG Electronics Inc. | &nbsp;&nbsp; 18274 | $1391577 |
| LG Energy Solution Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 8410 | 2001999 |
| LG H&H Co. Ltd. | &nbsp;&nbsp; 1626 | 418294 |
| LG Innotek Co. Ltd. | &nbsp;&nbsp; 2973 | 558374 |
| LG Uplus Corp. | &nbsp;&nbsp; 39381 | 288035 |
| Lotte Chemical Corp. | &nbsp;&nbsp; 3332 | 246924 |
| Meritz Financial Group Inc. | &nbsp;&nbsp; 17499 | 1078565 |
| Mirae Asset Securities Co. Ltd. | &nbsp;&nbsp; 48724 | 276663 |
| NAVER Corp. | &nbsp;&nbsp; 21737 | 2772389 |
| NCSoft Corp. | &nbsp;&nbsp; 2511 | 322206 |
| Netmarble Corp.<sup>(a)(c)</sup> | &nbsp;&nbsp; 4353 | 202355 |
| NH Investment & Securities Co. Ltd. | &nbsp;&nbsp; 27473 | 279072 |
| Orion Corp./Republic of Korea | &nbsp;&nbsp; 4954 | 317460 |
| Posco DX Co. Ltd. | &nbsp;&nbsp; 8565 | 181585 |
| POSCO Future M Co. Ltd. | &nbsp;&nbsp; 5445 | 849652 |
| POSCO Holdings Inc. | &nbsp;&nbsp; 12269 | 3172768 |
| Posco International Corp.<sup>(b)</sup> | &nbsp;&nbsp; 9347 | 363731 |
| Samsung Biologics Co. Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 2936 | 2014360 |
| Samsung C&T Corp. | &nbsp;&nbsp; 14272 | 1625608 |
| Samsung E&A Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 28377 | 592733 |
| Samsung Electro-Mechanics Co. Ltd. | &nbsp;&nbsp; 9291 | 1086141 |
| Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 815396 | 50279127 |
| Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp; 5205 | 1415391 |
| Samsung Heavy Industries Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 108978 | 934292 |
| Samsung Life Insurance Co. Ltd. | &nbsp;&nbsp; 13588 | 958981 |
| Samsung SDI Co. Ltd. | &nbsp;&nbsp; 9415 | 2213742 |
| Samsung SDS Co. Ltd. | &nbsp;&nbsp; 7147 | 773383 |
| Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp; 72578 | 3192047 |
| SK Biopharmaceuticals Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6072 | 381405 |
| SK Bioscience Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4238 | 172012 |
| SK Hynix Inc. | &nbsp;&nbsp; 93384 | 13393459 |
| SK IE Technology Co. Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 5931 | 162586 |
| SK Inc. | &nbsp;&nbsp; 6201 | 680120 |
| SK Innovation Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 9940 | 757985 |
| SK Square Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 16381 | 1039034 |
| SK Telecom Co. Ltd. | &nbsp;&nbsp; 9166 | 362689 |
| SKC Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3454 | 344384 |
| S-Oil Corp. | &nbsp;&nbsp; 8054 | 397318 |
| Woori Financial Group Inc. | &nbsp;&nbsp; 95539 | 1099674 |
| Yuhan Corp. | &nbsp;&nbsp; 10176 | 701125 |
|  |  | 149821159 |
| **Spain — 1.7%** | **Spain — 1.7%** | **Spain — 1.7%** |
| Acciona SA | &nbsp;&nbsp; 4208 | 545540 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 37265 | 1664876 |
| Aena SME SA<sup>(c)</sup> | &nbsp;&nbsp; 12406 | 2357123 |
| Amadeus IT Group SA | &nbsp;&nbsp; 77010 | 5071942 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 1009471 | 10580479 |
| Banco de Sabadell SA | &nbsp;&nbsp; 939901 | 1983421 |
| Banco Santander SA | &nbsp;&nbsp; 2702497 | 13037244 |
| CaixaBank SA | &nbsp;&nbsp; 665110 | 3879080 |
| Cellnex Telecom SA<sup>(c)</sup> | &nbsp;&nbsp; 83973 | 2928702 |
| Endesa SA | &nbsp;&nbsp; 49346 | 957520 |
| Ferrovial SE | &nbsp;&nbsp; 90581 | 3602022 |
| Grifols SA<sup>(a)</sup> | &nbsp;&nbsp; 48765 | 492553 |
| Iberdrola SA | &nbsp;&nbsp; 1010895 | 13352097 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 186465 | 9060122 |
| Redeia Corp. SA | &nbsp;&nbsp; 64486 | 1144941 |
| Repsol SA | &nbsp;&nbsp; 209547 | 2988752 |
| Telefonica SA | &nbsp;&nbsp; 802975 | 3636865 |
|  |  | 77283279 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden — 2.0%** | **Sweden — 2.0%** | **Sweden — 2.0%** |
| Alfa Laval AB | &nbsp;&nbsp; 49217 | $2176181 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 173576 | 5286135 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 464149 | 8260765 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 261524 | 4091781 |
| Beijer Ref AB, Class B | &nbsp;&nbsp; 65443 | 1039211 |
| Boliden AB | &nbsp;&nbsp; 45238 | 1383495 |
| Epiroc AB | &nbsp;&nbsp; 111119 | 2074077 |
| Epiroc AB, Class B | &nbsp;&nbsp; 66025 | 1110172 |
| EQT AB | &nbsp;&nbsp; 64506 | 2088697 |
| Essity AB, Class B | &nbsp;&nbsp; 105055 | 2953760 |
| Evolution AB<sup>(c)</sup> | &nbsp;&nbsp; 31254 | 3027551 |
| Fastighets AB Balder, Class B<sup>(a)</sup> | &nbsp;&nbsp; 116937 | 862333 |
| Getinge AB, Class B | &nbsp;&nbsp; 38501 | 751842 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 112068 | 1743492 |
| Hexagon AB, Class B | &nbsp;&nbsp; 358862 | 3654810 |
| Holmen AB, Class B | &nbsp;&nbsp; 12714 | 499813 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 59919 | 404642 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 22280 | 764297 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 25228 | 855157 |
| Indutrade AB | &nbsp;&nbsp; 48104 | 1414501 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 27707 | 813656 |
| Investor AB, Class B | &nbsp;&nbsp; 297305 | 8440524 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 12315 | 622567 |
| Lifco AB, Class B | &nbsp;&nbsp; 40201 | 1192623 |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 265501 | 1166676 |
| Saab AB | &nbsp;&nbsp; 57223 | 1321337 |
| Sagax AB, Class B | &nbsp;&nbsp; 36153 | 893138 |
| Sandvik AB | &nbsp;&nbsp; 179856 | 3681980 |
| Securitas AB, Class B | &nbsp;&nbsp; 77962 | 838684 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 272084 | 4184512 |
| Skanska AB, Class B | &nbsp;&nbsp; 56065 | 1096170 |
| SKF AB, Class B | &nbsp;&nbsp; 56831 | 1056537 |
| Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 103570 | 1407897 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 250811 | 2531652 |
| Swedbank AB, Class A | &nbsp;&nbsp; 146240 | 3109639 |
| Swedish Orphan Biovitrum AB<sup>(a)</sup> | &nbsp;&nbsp; 34401 | 898797 |
| Tele2 AB, Class B | &nbsp;&nbsp; 90144 | 928092 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 477000 | 3279784 |
| Telia Co. AB | &nbsp;&nbsp; 389817 | 1132953 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 37121 | 1379512 |
| Volvo AB, Class A | &nbsp;&nbsp; 33357 | 867165 |
| Volvo AB, Class B | &nbsp;&nbsp; 270221 | 6896243 |
| Volvo Car AB<sup>(a)</sup> | &nbsp;&nbsp; 122276 | 346938 |
|  |  | 92529788 |
| **Switzerland — 6.3%** | **Switzerland — 6.3%** | **Switzerland — 6.3%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 272593 | 15130713 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 29041 | 988507 |
| Alcon Inc. | &nbsp;&nbsp; 84918 | 8040421 |
| Avolta AG, Registered | &nbsp;&nbsp; 16232 | 612456 |
| Bachem Holding AG | &nbsp;&nbsp; 5499 | 493490 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 8343 | 1493074 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 5860 | 622024 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 658 | 1058730 |
| BKW AG | &nbsp;&nbsp; 3669 | 663691 |
| Chocoladefabriken Lindt & Spruengli AG, <br> Participation Certificates, NVS<br>| &nbsp;&nbsp; 175 | 2193380 |
| Chocoladefabriken Lindt & Spruengli <br> AG, Registered<br>| &nbsp;&nbsp; 19 | 2352739 |
| Cie. Financiere Richemont SA, Class A, Registered | &nbsp;&nbsp; 91835 | 14007713 |
| Clariant AG, Registered | &nbsp;&nbsp; 37017 | 549094 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 1311 | 1096305 |
| Geberit AG, Registered | &nbsp;&nbsp; 5820 | 3705397 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Givaudan SA, Registered | &nbsp;&nbsp; 1600 | $7849687 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 6254 | 932966 |
| Holcim AG | &nbsp;&nbsp; 88237 | 8245783 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 34503 | 1888267 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 8230 | 2551223 |
| Logitech International SA, Registered | &nbsp;&nbsp; 26893 | 2422417 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 12706 | 8461042 |
| Nestle SA, Registered | &nbsp;&nbsp; 455225 | 46110920 |
| Novartis AG, Registered | &nbsp;&nbsp; 336173 | 37526261 |
| Partners Group Holding AG | &nbsp;&nbsp; 3876 | 5217262 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 5236 | 1841563 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 120162 | 38903575 |
| Sandoz Group AG | &nbsp;&nbsp; 71014 | 3080108 |
| Schindler Holding AG, Participation <br> Certificates, NVS<br>| &nbsp;&nbsp; 7295 | 1952536 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 3509 | 921251 |
| SGS SA | &nbsp;&nbsp; 25799 | 2820689 |
| SIG Group AG | &nbsp;&nbsp; 49943 | 1048807 |
| Sika AG, Registered | &nbsp;&nbsp; 26107 | 7926506 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 8647 | 2650616 |
| Straumann Holding AG | &nbsp;&nbsp; 19059 | 2457691 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 5245 | 1080233 |
| Swatch Group AG (The), Registered | &nbsp;&nbsp; 8227 | 333585 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 5139 | 3935004 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 13324 | 1335335 |
| Swiss Re AG | &nbsp;&nbsp; 52073 | 6419733 |
| Swisscom AG, Registered | &nbsp;&nbsp; 4443 | 2719303 |
| Temenos AG, Registered | &nbsp;&nbsp; 10527 | 730979 |
| UBS Group AG, Registered | &nbsp;&nbsp; 561984 | 17028493 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 4645 | 2327776 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 24983 | 13734907 |
|  |  | 287462252 |
| **Taiwan — 5.3%** | **Taiwan — 5.3%** | **Taiwan — 5.3%** |
| Accton Technology Corp. | &nbsp;&nbsp; 89000 | 1395100 |
| Acer Inc. | &nbsp;&nbsp; 562792 | 759638 |
| Advantech Co. Ltd. | &nbsp;&nbsp; 83360 | 886664 |
| Airtac International Group | &nbsp;&nbsp; 24928 | 638996 |
| Alchip Technologies Ltd. | &nbsp;&nbsp; 14000 | 1140288 |
| ASE Technology Holding Co. Ltd. | &nbsp;&nbsp; 549762 | 2565799 |
| Asia Cement Corp. | &nbsp;&nbsp; 362440 | 457890 |
| Asia Vital Components Co. Ltd. | &nbsp;&nbsp; 58000 | 1154899 |
| Asustek Computer Inc. | &nbsp;&nbsp; 127000 | 1781006 |
| AUO Corp. | &nbsp;&nbsp; 1144800 | 625062 |
| Catcher Technology Co. Ltd. | &nbsp;&nbsp; 120000 | 781653 |
| Cathay Financial Holding Co. Ltd. | &nbsp;&nbsp; 1589019 | 3042688 |
| Chailease Holding Co. Ltd. | &nbsp;&nbsp; 256186 | 1195147 |
| Chang Hwa Commercial Bank Ltd. | &nbsp;&nbsp; 821063 | 469593 |
| Cheng Shin Rubber Industry Co. Ltd. | &nbsp;&nbsp; 371000 | 546651 |
| China Airlines Ltd. | &nbsp;&nbsp; 541000 | 380568 |
| China Development Financial Holding Corp. | &nbsp;&nbsp; 2695358 | 1330269 |
| China Steel Corp. | &nbsp;&nbsp; 1948288 | 1378944 |
| Chunghwa Telecom Co. Ltd. | &nbsp;&nbsp; 623000 | 2308516 |
| Compal Electronics Inc. | &nbsp;&nbsp; 698000 | 676304 |
| CTBC Financial Holding Co. Ltd. | &nbsp;&nbsp; 2963036 | 3216131 |
| Delta Electronics Inc. | &nbsp;&nbsp; 335000 | 4302682 |
| E Ink Holdings Inc. | &nbsp;&nbsp; 148000 | 1221168 |
| E.Sun Financial Holding Co. Ltd. | &nbsp;&nbsp; 2314162 | 1874898 |
| Eclat Textile Co. Ltd. | &nbsp;&nbsp; 35000 | 568449 |
| eMemory Technology Inc. | &nbsp;&nbsp; 11000 | 781388 |
| Eva Airways Corp. | &nbsp;&nbsp; 464000 | 489019 |
| Evergreen Marine Corp. Taiwan Ltd. | &nbsp;&nbsp; 178200 | 925559 |
| Far Eastern New Century Corp. | &nbsp;&nbsp; 521000 | 541985 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Taiwan (continued)** | **Taiwan (continued)** | **Taiwan (continued)** |
| Far EasTone Telecommunications Co. Ltd. | &nbsp;&nbsp; 283000 | $745509 |
| Feng TAY Enterprise Co. Ltd. | &nbsp;&nbsp; 92512 | 396245 |
| First Financial Holding Co. Ltd. | &nbsp;&nbsp; 1822700 | 1632506 |
| Formosa Chemicals & Fibre Corp. | &nbsp;&nbsp; 597340 | 909487 |
| Formosa Petrochemical Corp. | &nbsp;&nbsp; 179000 | 351211 |
| Formosa Plastics Corp. | &nbsp;&nbsp; 653960 | 1154777 |
| Fubon Financial Holding Co. Ltd. | &nbsp;&nbsp; 1308895 | 3544439 |
| Gigabyte Technology Co. Ltd. | &nbsp;&nbsp; 90000 | 727854 |
| Global Unichip Corp. | &nbsp;&nbsp; 17000 | 611916 |
| Globalwafers Co. Ltd. | &nbsp;&nbsp; 41000 | 623680 |
| Hon Hai Precision Industry Co. Ltd. | &nbsp;&nbsp; 2125377 | 13039009 |
| Hotai Motor Co. Ltd. | &nbsp;&nbsp; 55080 | 1092341 |
| Hua Nan Financial Holdings Co. Ltd. | &nbsp;&nbsp; 1512529 | 1280937 |
| Innolux Corp. | &nbsp;&nbsp; 1452150 | 682974 |
| Inventec Corp. | &nbsp;&nbsp; 437000 | 646219 |
| Largan Precision Co. Ltd. | &nbsp;&nbsp; 19000 | 1648444 |
| Lite-On Technology Corp. | &nbsp;&nbsp; 354000 | 1082642 |
| MediaTek Inc. | &nbsp;&nbsp; 262000 | 9978301 |
| Mega Financial Holding Co. Ltd. | &nbsp;&nbsp; 1898968 | 2504009 |
| Micro-Star International Co. Ltd. | &nbsp;&nbsp; 136000 | 709577 |
| Nan Ya Plastics Corp. | &nbsp;&nbsp; 846840 | 1295807 |
| Nanya Technology Corp.<sup>(a)</sup> | &nbsp;&nbsp; 231000 | 406650 |
| Nien Made Enterprise Co. Ltd. | &nbsp;&nbsp; 42000 | 510090 |
| Novatek Microelectronics Corp. | &nbsp;&nbsp; 109000 | 1757904 |
| Pegatron Corp. | &nbsp;&nbsp; 348000 | 1075015 |
| PharmaEssentia Corp.<sup>(a)</sup> | &nbsp;&nbsp; 43000 | 863307 |
| Pou Chen Corp. | &nbsp;&nbsp; 391000 | 431596 |
| President Chain Store Corp. | &nbsp;&nbsp; 85000 | 719970 |
| Quanta Computer Inc. | &nbsp;&nbsp; 470000 | 4004282 |
| Realtek Semiconductor Corp. | &nbsp;&nbsp; 91000 | 1435521 |
| Ruentex Development Co. Ltd. | &nbsp;&nbsp; 236700 | 371587 |
| Shanghai Commercial & Savings Bank Ltd. (The) | &nbsp;&nbsp; 664784 | 846920 |
| Shin Kong Financial Holding Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2325725 | 772473 |
| Silergy Corp. | &nbsp;&nbsp; 59000 | 815704 |
| SinoPac Financial Holdings Co. Ltd. | &nbsp;&nbsp; 1773690 | 1443797 |
| Synnex Technology International Corp. | &nbsp;&nbsp; 221750 | 481713 |
| Taishin Financial Holding Co. Ltd. | &nbsp;&nbsp; 1929840 | 1196046 |
| Taiwan Business Bank | &nbsp;&nbsp; 1400648 | 802540 |
| Taiwan Cement Corp. | &nbsp;&nbsp; 1142553 | 1208855 |
| Taiwan Cooperative Financial Holding Co. Ltd. | &nbsp;&nbsp; 1850906 | 1517714 |
| Taiwan High Speed Rail Corp. | &nbsp;&nbsp; 378000 | 343253 |
| Taiwan Mobile Co. Ltd. | &nbsp;&nbsp; 250000 | 804251 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 4212000 | 122869470 |
| Unimicron Technology Corp. | &nbsp;&nbsp; 246000 | 1370814 |
| Uni-President Enterprises Corp. | &nbsp;&nbsp; 812972 | 2089261 |
| United Microelectronics Corp. | &nbsp;&nbsp; 1905000 | 3034841 |
| Vanguard International Semiconductor Corp. | &nbsp;&nbsp; 169000 | 602396 |
| Voltronic Power Technology Corp. | &nbsp;&nbsp; 13000 | 739897 |
| Walsin Lihwa Corp. | &nbsp;&nbsp; 468754 | 494617 |
| Wan Hai Lines Ltd. | &nbsp;&nbsp; 123435 | 294444 |
| Winbond Electronics Corp. | &nbsp;&nbsp; 601562 | 428868 |
| Wistron Corp. | &nbsp;&nbsp; 444000 | 1335927 |
| Wiwynn Corp. | &nbsp;&nbsp; 17000 | 1077528 |
| WPG Holdings Ltd. | &nbsp;&nbsp; 283000 | 745746 |
| Yageo Corp. | &nbsp;&nbsp; 60898 | 1485042 |
| Yang Ming Marine Transport Corp. | &nbsp;&nbsp; 306000 | 592984 |
| Yuanta Financial Holding Co. Ltd. | &nbsp;&nbsp; 1677721 | 1683222 |
| Zhen Ding Technology Holding Ltd. | &nbsp;&nbsp; 133000 | 560919 |
|  |  | 243310002 |
| **Thailand — 0.4%** | **Thailand — 0.4%** | **Thailand — 0.4%** |
| Advanced Info Service PCL, NVDR | &nbsp;&nbsp; 229800 | 1510346 |
| Airports of Thailand PCL, NVDR | &nbsp;&nbsp; 810400 | 1285960 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Thailand (continued)** | **Thailand (continued)** | **Thailand (continued)** |
| Asset World Corp. PCL, NVDR | &nbsp;&nbsp; 1806300 | $184794 |
| Bangkok Dusit Medical Services PCL, NVDR | &nbsp;&nbsp; 1872900 | 1380660 |
| Bangkok Expressway & Metro PCL, NVDR | &nbsp;&nbsp; 1503700 | 329505 |
| Bumrungrad Hospital PCL, NVDR | &nbsp;&nbsp; 84500 | 583426 |
| Central Pattana PCL, NVDR | &nbsp;&nbsp; 409900 | 636360 |
| Charoen Pokphand Foods PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 809900 | 545770 |
| CP ALL PCL, NVDR | &nbsp;&nbsp; 1038500 | 1699150 |
| CP Axtra PCL, NVDR | &nbsp;&nbsp; 414100 | 354849 |
| Delta Electronics Thailand PCL, NVDR | &nbsp;&nbsp; 561600 | 1617294 |
| Global Power Synergy PCL, NVDR | &nbsp;&nbsp; 172200 | 192795 |
| Gulf Energy Development PCL, NVDR | &nbsp;&nbsp; 399700 | 536568 |
| Indorama Ventures PCL, NVDR | &nbsp;&nbsp; 476988 | 258889 |
| Intouch Holdings PCL, NVDR | &nbsp;&nbsp; 282000 | 651597 |
| Kasikornbank PCL, NVDR | &nbsp;&nbsp; 109900 | 405957 |
| Krungthai Card PCL, NVDR<sup>(b)</sup> | &nbsp;&nbsp; 214700 | 235274 |
| Minor International PCL, NVDR | &nbsp;&nbsp; 696720 | 567724 |
| PTT Exploration & Production PCL, NVDR | &nbsp;&nbsp; 262199 | 1078073 |
| PTT Global Chemical PCL, NVDR | &nbsp;&nbsp; 422301 | 323488 |
| PTT Oil & Retail Business PCL, NVDR | &nbsp;&nbsp; 279368 | 123993 |
| PTT PCL, NVDR | &nbsp;&nbsp; 1767700 | 1586562 |
| SCB X PCL, NVDR | &nbsp;&nbsp; 161300 | 466266 |
| Siam Cement PCL (The), NVDR | &nbsp;&nbsp; 138400 | 859084 |
| Thai Oil PCL, NVDR<sup>(b)</sup> | &nbsp;&nbsp; 202500 | 286747 |
| True Corp. PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 2109796 | 549417 |
|  |  | 18250548 |
| **Turkey — 0.2%** | **Turkey — 0.2%** | **Turkey — 0.2%** |
| Akbank TAS | &nbsp;&nbsp; 528366 | 987563 |
| Aselsan Elektronik Sanayi Ve Ticaret A/S | &nbsp;&nbsp; 243820 | 460470 |
| BIM Birlesik Magazalar A/S | &nbsp;&nbsp; 76111 | 1437520 |
| Coca-Cola Icecek A/S | &nbsp;&nbsp; 13381 | 341821 |
| Eregli Demir ve Celik Fabrikalari TAS | &nbsp;&nbsp; 218192 | 369278 |
| Ford Otomotiv Sanayi AS | &nbsp;&nbsp; 13101 | 393215 |
| Haci Omer Sabanci Holding AS | &nbsp;&nbsp; 171310 | 513913 |
| KOC Holding AS | &nbsp;&nbsp; 120443 | 782278 |
| Pegasus Hava Tasimaciligi AS<sup>(a)</sup> | &nbsp;&nbsp; 46148 | 312133 |
| Sasa Polyester Sanayi AS<sup>(a)</sup> | &nbsp;&nbsp; 241016 | 338406 |
| Tofas Turk Otomobil Fabrikasi AS | &nbsp;&nbsp; 22605 | 191118 |
| Turk Hava Yollari AO<sup>(a)</sup> | &nbsp;&nbsp; 96317 | 841231 |
| Turkcell Iletisim Hizmetleri AS | &nbsp;&nbsp; 209048 | 666575 |
| Turkiye Is Bankasi AS, Class C | &nbsp;&nbsp; 1553851 | 703785 |
| Turkiye Petrol Rafinerileri AS | &nbsp;&nbsp; 165946 | 818262 |
| Turkiye Sise ve Cam Fabrikalari AS | &nbsp;&nbsp; 270588 | 384340 |
| Yapi ve Kredi Bankasi A/S | &nbsp;&nbsp; 592536 | 540332 |
|  |  | 10082240 |
| **United Arab Emirates — 0.3%** | **United Arab Emirates — 0.3%** | **United Arab Emirates — 0.3%** |
| Abu Dhabi Commercial Bank PJSC | &nbsp;&nbsp; 538297 | 1304241 |
| Abu Dhabi Islamic Bank PJSC | &nbsp;&nbsp; 293572 | 979919 |
| Abu Dhabi National Oil Co. for Distribution PJSC | &nbsp;&nbsp; 565871 | 549786 |
| Aldar Properties PJSC | &nbsp;&nbsp; 696307 | 1400974 |
| Americana Restaurants International PLC | &nbsp;&nbsp; 463955 | 390605 |
| Dubai Islamic Bank PJSC | &nbsp;&nbsp; 488314 | 777750 |
| Emaar Properties PJSC | &nbsp;&nbsp; 1114380 | 2618359 |
| Emirates NBD Bank PJSC | &nbsp;&nbsp; 337842 | 1756839 |
| Emirates Telecommunications Group Co. PJSC | &nbsp;&nbsp; 582266 | 2596691 |
| First Abu Dhabi Bank PJSC | &nbsp;&nbsp; 763183 | 2709513 |
| Multiply Group PJSC<sup>(a)</sup> | &nbsp;&nbsp; 647470 | 405446 |
|  |  | 15490123 |
| **United Kingdom — 9.6%** | **United Kingdom — 9.6%** | **United Kingdom — 9.6%** |
| 3i Group PLC | &nbsp;&nbsp; 167322 | 6731483 |
| Admiral Group PLC | &nbsp;&nbsp; 43112 | 1527872 |
| Anglo American PLC | &nbsp;&nbsp; 216992 | 6578399 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Antofagasta PLC | &nbsp;&nbsp; 66585 | $1733819 |
| Ashtead Group PLC | &nbsp;&nbsp; 75122 | 5421360 |
| Associated British Foods PLC | &nbsp;&nbsp; 57322 | 1830020 |
| AstraZeneca PLC | &nbsp;&nbsp; 264681 | 42050075 |
| Auto Trader Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 156269 | 1636896 |
| Aviva PLC | &nbsp;&nbsp; 486096 | 3131371 |
| BAE Systems PLC | &nbsp;&nbsp; 517451 | 8630102 |
| Barclays PLC | &nbsp;&nbsp; 2572060 | 7691246 |
| Barratt Developments PLC | &nbsp;&nbsp; 176950 | 1197401 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 18936 | 1236187 |
| BP PLC | &nbsp;&nbsp; 2910751 | 17205771 |
| British American Tobacco PLC | &nbsp;&nbsp; 344903 | 12237514 |
| BT Group PLC | &nbsp;&nbsp; 1113672 | 2019646 |
| Bunzl PLC | &nbsp;&nbsp; 58002 | 2430246 |
| Burberry Group PLC | &nbsp;&nbsp; 65023 | 650738 |
| Centrica PLC | &nbsp;&nbsp; 907680 | 1547571 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 37017 | 1350747 |
| Compass Group PLC | &nbsp;&nbsp; 291477 | 8976036 |
| Croda International PLC | &nbsp;&nbsp; 24763 | 1287531 |
| DCC PLC | &nbsp;&nbsp; 17157 | 1182031 |
| Diageo PLC | &nbsp;&nbsp; 379877 | 11819861 |
| Endeavour Mining PLC | &nbsp;&nbsp; 23909 | 534068 |
| Entain PLC | &nbsp;&nbsp; 105042 | 771913 |
| Experian PLC | &nbsp;&nbsp; 156851 | 7400232 |
| Flutter Entertainment PLC<sup>(a)</sup> | &nbsp;&nbsp; 30378 | 6008943 |
| Glencore PLC | &nbsp;&nbsp; 1767778 | 9809113 |
| GSK PLC | &nbsp;&nbsp; 705474 | 13699446 |
| Haleon PLC | &nbsp;&nbsp; 1159221 | 5199572 |
| Halma PLC | &nbsp;&nbsp; 63446 | 2171666 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 58139 | 825927 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 27681 | 676796 |
| HSBC Holdings PLC | &nbsp;&nbsp; 3221607 | 29297628 |
| Imperial Brands PLC | &nbsp;&nbsp; 142025 | 3914470 |
| Informa PLC | &nbsp;&nbsp; 244047 | 2727268 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 28513 | 2872560 |
| Intertek Group PLC | &nbsp;&nbsp; 27058 | 1757091 |
| J Sainsbury PLC | &nbsp;&nbsp; 276817 | 981648 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 429571 | 726767 |
| Kingfisher PLC | &nbsp;&nbsp; 330647 | 1175493 |
| Land Securities Group PLC | &nbsp;&nbsp; 126189 | 1031899 |
| Legal & General Group PLC | &nbsp;&nbsp; 997126 | 2974054 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 10812455 | 8260173 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 77948 | 9488272 |
| M&G PLC | &nbsp;&nbsp; 403018 | 1100499 |
| Melrose Industries PLC | &nbsp;&nbsp; 230143 | 1742714 |
| Mondi PLC, NVS | &nbsp;&nbsp; 74557 | 1457713 |
| National Grid PLC | &nbsp;&nbsp; 820057 | 10405027 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 1132039 | 5370941 |
| Next PLC | &nbsp;&nbsp; 21444 | 2506368 |
| NMC Health PLC, NVS<sup>(d)</sup> | &nbsp;&nbsp; 14180 |  |
| Pearson PLC | &nbsp;&nbsp; 109287 | 1482803 |
| Persimmon PLC | &nbsp;&nbsp; 55475 | 1131261 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 94928 | 668587 |
| Prudential PLC | &nbsp;&nbsp; 467871 | 4222249 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 121012 | 6509677 |
| RELX PLC | &nbsp;&nbsp; 323980 | 15291041 |
| Rentokil Initial PLC | &nbsp;&nbsp; 428784 | 2618222 |
| Rio Tinto PLC | &nbsp;&nbsp; 191586 | 12459392 |
| Rolls-Royce Holdings PLC<sup>(a)</sup> | &nbsp;&nbsp; 1451159 | 8402504 |
| Sage Group PLC (The) | &nbsp;&nbsp; 173847 | 2430130 |
| Schroders PLC | &nbsp;&nbsp; 121806 | 615543 |
| Segro PLC | &nbsp;&nbsp; 205168 | 2414952 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Severn Trent PLC | &nbsp;&nbsp; 49853 | $1648123 |
| Shell PLC | &nbsp;&nbsp; 1095354 | 39940857 |
| Smith & Nephew PLC | &nbsp;&nbsp; 147382 | 2124191 |
| Smiths Group PLC | &nbsp;&nbsp; 58256 | 1338091 |
| Spirax Group PLC | &nbsp;&nbsp; 12399 | 1447546 |
| SSE PLC | &nbsp;&nbsp; 187769 | 4544348 |
| Standard Chartered PLC | &nbsp;&nbsp; 378849 | 3742379 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 592347 | 1214415 |
| Tesco PLC | &nbsp;&nbsp; 1206799 | 5146358 |
| Unilever PLC | &nbsp;&nbsp; 427299 | 26259521 |
| United Utilities Group PLC | &nbsp;&nbsp; 121064 | 1608895 |
| Vodafone Group PLC | &nbsp;&nbsp; 3816121 | 3570933 |
| Whitbread PLC | &nbsp;&nbsp; 33689 | 1262326 |
| Wise PLC, Class A<sup>(a)</sup> | &nbsp;&nbsp; 109324 | 1006610 |
| WPP PLC | &nbsp;&nbsp; 183685 | 1771840 |
|  |  | 439864978 |
| **Total Common Stocks — 99.0%** <br>**(Cost: $3,930,161,715)** | **Total Common Stocks — 99.0%** <br>**(Cost: $3,930,161,715)** | 4519853042 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Brazil — 0.4%** | **Brazil — 0.4%** | **Brazil — 0.4%** |
| Banco Bradesco SA, Preference Shares, NVS | &nbsp;&nbsp; 939409 | 2064453 |
| Centrais Eletricas Brasileiras SA, Class B, <br> Preference Shares, NVS<br>| &nbsp;&nbsp; 62479 | 481725 |
| Cia. Energetica de Minas Gerais, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 314630 | 604099 |
| Cia. Paranaense de Energia - Copel, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 168374 | 300362 |
| Gerdau SA, Preference Shares, NVS | &nbsp;&nbsp; 247558 | 799202 |
| Itau Unibanco Holding SA, Preference Shares, NVS | &nbsp;&nbsp; 841405 | 5039966 |
| Itausa SA, Preference Shares, NVS | &nbsp;&nbsp; 989056 | 1778365 |
| Petroleo Brasileiro SA, Preference Shares, NVS | &nbsp;&nbsp; 820549 | 5427144 |
|  |  | 16495316 |
| **Chile — 0.0%** | **Chile — 0.0%** | **Chile — 0.0%** |
| Sociedad Quimica y Minera de Chile SA, Class B, <br> Preference Shares<br>| &nbsp;&nbsp; 26033 | 987008 |
| **Colombia — 0.0%** | **Colombia — 0.0%** | **Colombia — 0.0%** |
| Bancolombia SA, Preference Shares, NVS | &nbsp;&nbsp; 86039 | 720000 |
| **Germany — 0.2%** | **Germany — 0.2%** | **Germany — 0.2%** |
| Bayerische Motoren Werke AG, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 9682 | 830053 |
| Dr Ing hc F Porsche AG, Preference <br> Shares, NVS<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 20557 | 1547956 |
| Henkel AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 29250 | 2502097 |
| Porsche Automobil Holding SE, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 25864 | 1156107 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 4693 | 1331037 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 34724 | 3875302 |
|  |  | 11242552 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Surgutneftegas PJSC, Preference Shares, NVS<sup>(a)(d)</sup> | &nbsp;&nbsp; 1151800 | 136 |
| **South Korea — 0.2%** | **South Korea — 0.2%** | **South Korea — 0.2%** |
| Hyundai Motor Co. |  |  |
| Preference Shares, NVS | &nbsp;&nbsp; 4141 | 501233 |
| Series 2, Preference Shares, NVS | &nbsp;&nbsp; 6679 | 811752 |
| LG Chem Ltd., Preference Shares, NVS | &nbsp;&nbsp; 1350 | 210398 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| Samsung Electronics Co. Ltd., Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 138552 | $6596022 |
|  |  | 8119405 |
| **Total Preferred Stocks — 0.8%** <br>**(Cost: $33,887,855)** | **Total Preferred Stocks — 0.8%** <br>**(Cost: $33,887,855)** | 37564417 |
| **Rights** | **Rights** | **Rights** |
| **Brazil — 0.0%** | **Brazil — 0.0%** | **Brazil — 0.0%** |
| Localiza Rent a Car SA, (Expires 08/20/24)<sup>(a)</sup> | &nbsp;&nbsp; 1543 | 3161 |
| **India — 0.0%** | **India — 0.0%** | **India — 0.0%** |
| Tata Consumer Products Ltd. | &nbsp;&nbsp; 4008 | 17757 |
| **Total Rights — 0.0%** <br>**(Cost: $—)** | **Total Rights — 0.0%** <br>**(Cost: $—)** | 20918 |
| **Warrants** | **Warrants** | **Warrants** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| Constellation Software Inc., (Issued 08/29/23, <br> 1 Share for 1 Warrant, Expires 03/31/40, Strike <br> Price CAD 11.50)<sup>(d)</sup><br>| &nbsp;&nbsp; 3748 |  |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** |  |
| **Total Long-Term Investments — 99.8%** <br>**(Cost: $3,964,049,570)** | **Total Long-Term Investments — 99.8%** <br>**(Cost: $3,964,049,570)** | 4557438377 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.3%** | **Money Market Funds — 0.3%** | **Money Market Funds — 0.3%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 10813316 | $10817642 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 4130000 | 4130000 |
| **Total Short-Term Securities — 0.3%** <br>**(Cost: $14,937,709)** | **Total Short-Term Securities — 0.3%** <br>**(Cost: $14,937,709)** | 14947642 |
| **Total Investments — 100.1%** <br>**(Cost: $3,978,987,279)** | **Total Investments — 100.1%** <br>**(Cost: $3,978,987,279)** | 4572386019 |
| **Liabilities in Excess of Other Assets — (0.1)%** | **Liabilities in Excess of Other Assets — (0.1)%** | (5993734)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $4566392285 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $30996743 | $—<br> $(20184603 )<sup>(a)</sup><br>| &nbsp;&nbsp; $9317 | $(3815)<br>| $10817642 | 10813316 | $236072 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 7320000 | —<br> (3190000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 4130000 | 4130000 | 382751 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $9317 | $(3815)<br>| $14947642 |  | $618823 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| MSCI EAFE Index | &nbsp;&nbsp; 43 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $5138 | &nbsp;&nbsp; $11778 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**Futures Contracts (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of*<br> *Contracts*<br>| *Expiration*<br> *Date*<br>| *Notional*<br> *Amount*<br> *(000)*<br>| *Value/*<br> *Unrealized*<br> *Appreciation*<br> *(Depreciation)*<br>|
| MSCI Emerging Markets Index | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $2248 | &nbsp;&nbsp; $(32997)<br>|
|  |  |  |  | &nbsp;&nbsp; $(21219)<br>|

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11778 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11778 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $32997 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $32997 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1116580 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1116580 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(756727)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(756727)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $13622240 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $562292514 | &nbsp;&nbsp; $3957555259 | &nbsp;&nbsp; $5269 | &nbsp;&nbsp; $4519853042 |
| Preferred Stocks | &nbsp;&nbsp; 18202324 | &nbsp;&nbsp; 19361957 | &nbsp;&nbsp; 136 | &nbsp;&nbsp; 37564417 |
| Rights | &nbsp;&nbsp; 3161 | &nbsp;&nbsp; 17757 | &nbsp;&nbsp; — | &nbsp;&nbsp; 20918 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ex U.S. ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; $14947642 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14947642 |
|  | &nbsp;&nbsp; $595445641 | &nbsp;&nbsp; $3976934973 | &nbsp;&nbsp; $5405 | &nbsp;&nbsp; $4572386019 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $11778 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11778 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; (32997)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (32997)<br>|
|  | &nbsp;&nbsp; $(21219)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(21219)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 7.4%** | **Australia — 7.4%** | **Australia — 7.4%** |
| Ampol Ltd. | &nbsp;&nbsp; 765595 | $16770322 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 9828404 | 186985770 |
| APA Group | &nbsp;&nbsp; 4136933 | 21442370 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 1868402 | 66541455 |
| ASX Ltd. | &nbsp;&nbsp; 634481 | 27032810 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 6014403 | 14664747 |
| BHP Group Ltd. | &nbsp;&nbsp; 16572203 | 460292017 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 1458157 | 21174119 |
| Brambles Ltd. | &nbsp;&nbsp; 4553404 | 46420462 |
| CAR Group Ltd. | &nbsp;&nbsp; 1173843 | 26846393 |
| Cochlear Ltd. | &nbsp;&nbsp; 213856 | 48321976 |
| Coles Group Ltd. | &nbsp;&nbsp; 4381158 | 51924032 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 5469565 | 492863069 |
| Computershare Ltd. | &nbsp;&nbsp; 1807851 | 32606410 |
| CSL Ltd. | &nbsp;&nbsp; 1579163 | 320511773 |
| Dexus | &nbsp;&nbsp; 3521416 | 16235685 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 4965267 | 17858439 |
| Fortescue Ltd. | &nbsp;&nbsp; 5537207 | 68898515 |
| Goodman Group | &nbsp;&nbsp; 5586294 | 128965664 |
| GPT Group (The) | &nbsp;&nbsp; 6247338 | 19029507 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 7809059 | 37779474 |
| James Hardie Industries PLC<sup>(a)</sup> | &nbsp;&nbsp; 1423085 | 51122368 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 7273337 | 23700620 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 1188970 | 163632784 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 8978243 | 23373444 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 574242 | 20536484 |
| Mirvac Group | &nbsp;&nbsp; 12887851 | 18146187 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 10139380 | 256086890 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 3757323 | 34872198 |
| Orica Ltd. | &nbsp;&nbsp; 1585255 | 18653506 |
| Origin Energy Ltd. | &nbsp;&nbsp; 5641255 | 38707308 |
| Pilbara Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 9325284 | 18024501 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 187328 | 17674239 |
| Qantas Airways Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2855364 | 12096644 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 4911947 | 57971044 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 599400 | 18253906 |
| REA Group Ltd. | &nbsp;&nbsp; 172297 | 23165272 |
| Reece Ltd. | &nbsp;&nbsp; 728052 | 13193344 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 1213328 | 93234668 |
| Santos Ltd. | &nbsp;&nbsp; 10604876 | 55282227 |
| Scentre Group | &nbsp;&nbsp; 16975373 | 38711107 |
| SEEK Ltd. | &nbsp;&nbsp; 1163702 | 16852251 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 649937 | 16675393 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 1487612 | 26960239 |
| South32 Ltd. | &nbsp;&nbsp; 14802591 | 29689477 |
| Stockland | &nbsp;&nbsp; 7782529 | 23506427 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 4144853 | 48225862 |
| Telstra Group Ltd. | &nbsp;&nbsp; 13177883 | 34055125 |
| Transurban Group | &nbsp;&nbsp; 10109089 | 86268895 |
| Treasury Wine Estates Ltd. | &nbsp;&nbsp; 2649300 | 21418318 |
| Vicinity Ltd. | &nbsp;&nbsp; 12667500 | 17564749 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 766322 | 17836449 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 3708513 | 178980986 |
| Westpac Banking Corp. | &nbsp;&nbsp; 11350406 | 221818715 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 544848 | 34140783 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 6205676 | 112538726 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 3992822 | 90090716 |
| Xero Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 473748 | 43166569 |
|  |  | 4139393430 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Austria — 0.2%** | **Austria — 0.2%** | **Austria — 0.2%** |
| Erste Group Bank AG | &nbsp;&nbsp; 1105016 | $57478798 |
| OMV AG | &nbsp;&nbsp; 473801 | 19823881 |
| Verbund AG | &nbsp;&nbsp; 218733 | 17563297 |
| voestalpine AG | &nbsp;&nbsp; 375390 | 9627571 |
|  |  | 104493547 |
| **Belgium — 1.0%** | **Belgium — 1.0%** | **Belgium — 1.0%** |
| Ageas SA/NV | &nbsp;&nbsp; 522094 | 24925408 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 2936586 | 174357336 |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 194243 | 99313768 |
| D'ieteren Group | &nbsp;&nbsp; 69139 | 15889398 |
| Elia Group SA/NV | &nbsp;&nbsp; 95316 | 9899540 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 288028 | 21495269 |
| KBC Group NV | &nbsp;&nbsp; 816699 | 63168333 |
| Lotus Bakeries NV | &nbsp;&nbsp; 1325 | 14397171 |
| Sofina SA | &nbsp;&nbsp; 49402 | 11672562 |
| Syensqo SA | &nbsp;&nbsp; 242717 | 21462926 |
| UCB SA | &nbsp;&nbsp; 413865 | 69154478 |
| Umicore SA | &nbsp;&nbsp; 691604 | 9498545 |
| Warehouses De Pauw CVA | &nbsp;&nbsp; 573444 | 15534119 |
|  |  | 550768853 |
| **Denmark — 3.7%** | **Denmark — 3.7%** | **Denmark — 3.7%** |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 9658 | 15688796 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 14586 | 24130175 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 317741 | 38369433 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 412310 | 53600505 |
| Danske Bank A/S | &nbsp;&nbsp; 2254761 | 68956193 |
| Demant A/S<sup>(a)</sup> | &nbsp;&nbsp; 324533 | 12442407 |
| DSV A/S | &nbsp;&nbsp; 565005 | 103647124 |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 215375 | 60837324 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 10663158 | 1412792568 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 1215127 | 77351617 |
| Orsted A/S<sup>(a)(c)</sup> | &nbsp;&nbsp; 617238 | 36789855 |
| Pandora A/S | &nbsp;&nbsp; 283357 | 44417147 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 29493 | 13036278 |
| Tryg A/S | &nbsp;&nbsp; 1124159 | 24612452 |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 3288988 | 81392710 |
|  |  | 2068064584 |
| **Finland — 1.0%** | **Finland — 1.0%** | **Finland — 1.0%** |
| Elisa OYJ | &nbsp;&nbsp; 463715 | 21591228 |
| Fortum OYJ | &nbsp;&nbsp; 1462678 | 22491574 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 879046 | 15900799 |
| Kone OYJ, Class B | &nbsp;&nbsp; 1111159 | 56740865 |
| Metso OYJ | &nbsp;&nbsp; 2145906 | 21803550 |
| Neste OYJ | &nbsp;&nbsp; 1367439 | 27598786 |
| Nokia OYJ | &nbsp;&nbsp; 17411325 | 68424775 |
| Nordea Bank Abp | &nbsp;&nbsp; 10311450 | 120661857 |
| Orion OYJ, Class B | &nbsp;&nbsp; 352843 | 16217777 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 1472474 | 64546037 |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 1882536 | 23533799 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 1744827 | 57711922 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 1644190 | 33976916 |
|  |  | 551199885 |
| **France — 11.1%** | **France — 11.1%** | **France — 11.1%** |
| Accor SA | &nbsp;&nbsp; 629562 | 24227508 |
| Aeroports de Paris SA | &nbsp;&nbsp; 112994 | 14845867 |
| Air Liquide SA | &nbsp;&nbsp; 1886269 | 344165758 |
| Airbus SE | &nbsp;&nbsp; 1941786 | 293843849 |
| Alstom SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 1129233 | 22124612 |
| Amundi SA<sup>(c)</sup> | &nbsp;&nbsp; 200800 | 14654520 |
| ArcelorMittal SA | &nbsp;&nbsp; 1532803 | 34902973 |
| Arkema SA | &nbsp;&nbsp; 195789 | 17668556 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| AXA SA | &nbsp;&nbsp; 5935076 | $208379342 |
| BioMerieux | &nbsp;&nbsp; 133677 | 14106461 |
| BNP Paribas SA | &nbsp;&nbsp; 3374816 | 231221192 |
| Bollore SE | &nbsp;&nbsp; 2315463 | 14413383 |
| Bouygues SA | &nbsp;&nbsp; 640146 | 22101678 |
| Bureau Veritas SA | &nbsp;&nbsp; 1035106 | 32387647 |
| Capgemini SE | &nbsp;&nbsp; 507081 | 100667467 |
| Carrefour SA | &nbsp;&nbsp; 1877414 | 28005818 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 1489661 | 127791664 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 2220372 | 87901948 |
| Covivio SA/France | &nbsp;&nbsp; 165204 | 8504239 |
| Credit Agricole SA | &nbsp;&nbsp; 3442127 | 52235871 |
| Danone SA | &nbsp;&nbsp; 2104371 | 136710560 |
| Dassault Aviation SA | &nbsp;&nbsp; 65661 | 13219792 |
| Dassault Systemes SE | &nbsp;&nbsp; 2187976 | 82943466 |
| Edenred SE | &nbsp;&nbsp; 818037 | 34062052 |
| Eiffage SA | &nbsp;&nbsp; 236960 | 23582666 |
| Engie SA | &nbsp;&nbsp; 5970689 | 93860196 |
| EssilorLuxottica SA | &nbsp;&nbsp; 964049 | 220612648 |
| Eurazeo SE | &nbsp;&nbsp; 149009 | 11723314 |
| Eurofins Scientific SE | &nbsp;&nbsp; 441416 | 26133535 |
| Euronext NV<sup>(c)</sup> | &nbsp;&nbsp; 276567 | 27961736 |
| Gecina SA | &nbsp;&nbsp; 150447 | 14914972 |
| Getlink SE | &nbsp;&nbsp; 986564 | 17580422 |
| Hermes International SCA | &nbsp;&nbsp; 103359 | 225874002 |
| Ipsen SA | &nbsp;&nbsp; 123066 | 13817869 |
| Kering SA | &nbsp;&nbsp; 242450 | 74465545 |
| Klepierre SA | &nbsp;&nbsp; 702580 | 20118071 |
| La Francaise des Jeux SAEM<sup>(c)</sup> | &nbsp;&nbsp; 343370 | 13322319 |
| Legrand SA | &nbsp;&nbsp; 863016 | 93246212 |
| L'Oreal SA | &nbsp;&nbsp; 786299 | 340032990 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 901110 | 635608936 |
| Orange SA | &nbsp;&nbsp; 6073308 | 67397109 |
| Pernod Ricard SA | &nbsp;&nbsp; 668446 | 89442839 |
| Publicis Groupe SA | &nbsp;&nbsp; 748195 | 78108892 |
| Remy Cointreau SA | &nbsp;&nbsp; 75368 | 5946962 |
| Renault SA | &nbsp;&nbsp; 628670 | 30466691 |
| Rexel SA | &nbsp;&nbsp; 735427 | 18684915 |
| Safran SA | &nbsp;&nbsp; 1116987 | 245393818 |
| Sanofi SA | &nbsp;&nbsp; 3719683 | 383471323 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 95212 | 18999614 |
| Schneider Electric SE | &nbsp;&nbsp; 1778247 | 428620062 |
| SEB SA | &nbsp;&nbsp; 82525 | 8258101 |
| Societe Generale SA | &nbsp;&nbsp; 2359548 | 61199507 |
| Sodexo SA | &nbsp;&nbsp; 288792 | 27350710 |
| STMicroelectronics NV | &nbsp;&nbsp; 2213408 | 73181540 |
| Teleperformance SE | &nbsp;&nbsp; 188973 | 24327504 |
| Thales SA | &nbsp;&nbsp; 309388 | 49178289 |
| TotalEnergies SE | &nbsp;&nbsp; 7019472 | 473577738 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 386455 | 28899576 |
| Veolia Environnement SA | &nbsp;&nbsp; 2252759 | 70767502 |
| Vinci SA | &nbsp;&nbsp; 1635664 | 186658594 |
| Vivendi SE | &nbsp;&nbsp; 2349851 | 25074684 |
|  |  | 6208947626 |
| **Germany — 8.2%** | **Germany — 8.2%** | **Germany — 8.2%** |
| adidas AG | &nbsp;&nbsp; 529451 | 132678969 |
| Allianz SE, Registered | &nbsp;&nbsp; 1278413 | 360084693 |
| BASF SE | &nbsp;&nbsp; 2916883 | 135801724 |
| Bayer AG, Registered | &nbsp;&nbsp; 3211137 | 95533533 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 1042282 | 96670740 |
| Bechtle AG | &nbsp;&nbsp; 263798 | 11658177 |
| Beiersdorf AG | &nbsp;&nbsp; 329562 | 47834942 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Brenntag SE | &nbsp;&nbsp; 440580 | $31341237 |
| Carl Zeiss Meditec AG, Bearer | &nbsp;&nbsp; 129495 | 8859344 |
| Commerzbank AG | &nbsp;&nbsp; 3438588 | 56057487 |
| Continental AG | &nbsp;&nbsp; 359471 | 22036939 |
| Covestro AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 618416 | 36405431 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 203511 | 17926015 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 1748573 | 67510557 |
| Delivery Hero SE, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 626301 | 13934058 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 6250930 | 97298692 |
| Deutsche Boerse AG | &nbsp;&nbsp; 620961 | 127153215 |
| Deutsche Lufthansa AG, Registered<sup>(b)</sup> | &nbsp;&nbsp; 1934062 | 12120347 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 3239537 | 144501271 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 10591674 | 277051527 |
| E.ON SE | &nbsp;&nbsp; 7328698 | 102771204 |
| Evonik Industries AG | &nbsp;&nbsp; 835942 | 16929245 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 671053 | 25894492 |
| Fresenius SE & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 1381122 | 49486646 |
| GEA Group AG | &nbsp;&nbsp; 526769 | 23259728 |
| Hannover Rueck SE | &nbsp;&nbsp; 196695 | 48837503 |
| Heidelberg Materials AG | &nbsp;&nbsp; 446452 | 46511003 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 339503 | 26305669 |
| Infineon Technologies AG | &nbsp;&nbsp; 4267932 | 148260014 |
| Knorr-Bremse AG | &nbsp;&nbsp; 237125 | 19068602 |
| LEG Immobilien SE | &nbsp;&nbsp; 241632 | 21077917 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 2622183 | 173337894 |
| Merck KGaA | &nbsp;&nbsp; 421906 | 75382905 |
| MTU Aero Engines AG | &nbsp;&nbsp; 176162 | 49882670 |
| Muenchener Rueckversicherungs-Gesellschaft AG <br> in Muenchen, Registered<br>| &nbsp;&nbsp; 445381 | 219361171 |
| Nemetschek SE | &nbsp;&nbsp; 188612 | 18015482 |
| Puma SE | &nbsp;&nbsp; 344378 | 17089108 |
| Qiagen NV, NVS | &nbsp;&nbsp; 721358 | 32096059 |
| Rational AG | &nbsp;&nbsp; 16724 | 14639804 |
| Rheinmetall AG | &nbsp;&nbsp; 142445 | 77583564 |
| RWE AG | &nbsp;&nbsp; 2066785 | 77134279 |
| SAP SE | &nbsp;&nbsp; 3412123 | 721391848 |
| Scout24 SE<sup>(c)</sup> | &nbsp;&nbsp; 248953 | 19681582 |
| Siemens AG, Registered | &nbsp;&nbsp; 2483420 | 454706708 |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 1959973 | 56914750 |
| Siemens Healthineers AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 921965 | 49416500 |
| Symrise AG, Class A | &nbsp;&nbsp; 434414 | 54749788 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 210592 | 15998972 |
| Volkswagen AG | &nbsp;&nbsp; 96633 | 11401635 |
| Vonovia SE | &nbsp;&nbsp; 2387914 | 73213917 |
| Zalando SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 732221 | 18762630 |
|  |  | 4551622187 |
| **Hong Kong — 1.7%** | **Hong Kong — 1.7%** | **Hong Kong — 1.7%** |
| AIA Group Ltd. | &nbsp;&nbsp; 36725800 | 245653571 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 12104000 | 35214428 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 6271184 | 23962632 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 8769684 | 45813776 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 2074292 | 13835005 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 5368500 | 46075775 |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 187286 | 11851458 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 7116000 | 29915109 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 2494200 | 30543534 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 4726764 | 13276640 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 12368440 | 14980188 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 36533513 | 29770157 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 3791200 | 111829101 |
| Hongkong Land Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3600600 | 11628541 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 516900 | 18209836 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| Link REIT | &nbsp;&nbsp; 8371329 | $35318813 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 5016000 | 16227233 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 4531000 | 28878195 |
| Sands China Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 7918400 | 14844102 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 12696000 | 13132209 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 4372000 | 9757330 |
| Sun Hung Kai Properties Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 4732000 | 40972129 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 1516500 | 13082505 |
| Swire Properties Ltd. | &nbsp;&nbsp; 3654655 | 5771903 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 4498033 | 57604919 |
| WH Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 27398000 | 17809898 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 3494168 | 9580476 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 5443912 | 13383415 |
|  |  | 958922878 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| AIB Group PLC | &nbsp;&nbsp; 5546906 | 31817523 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 3409474 | 38612074 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 510939 | 47770616 |
| Kingspan Group PLC | &nbsp;&nbsp; 509793 | 47698363 |
|  |  | 165898576 |
| **Israel — 0.7%** | **Israel — 0.7%** | **Israel — 0.7%** |
| Azrieli Group Ltd. | &nbsp;&nbsp; 131046 | 8043261 |
| Bank Hapoalim BM | &nbsp;&nbsp; 4154156 | 38119927 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 4961049 | 42751790 |
| Check Point Software Technologies Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 302305 | 55457852 |
| CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 137858 | 35344034 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 87611 | 15681061 |
| Global-e Online Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 322051 | 11052790 |
| ICL Group Ltd. | &nbsp;&nbsp; 2526234 | 10575007 |
| Isracard Ltd. | &nbsp;&nbsp; 1 | 2 |
| Israel Discount Bank Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 4032974 | 20588388 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 498806 | 18000044 |
| Monday.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 119583 | 27481369 |
| Nice Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 205318 | 37057661 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 3657932 | 63757755 |
| Wix.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 177453 | 27669359 |
|  |  | 411580300 |
| **Italy — 2.7%** | **Italy — 2.7%** | **Italy — 2.7%** |
| Amplifon SpA | &nbsp;&nbsp; 409766 | 13014331 |
| Banco BPM SpA | &nbsp;&nbsp; 4213206 | 29170848 |
| Davide Campari-Milano NV | &nbsp;&nbsp; 2023240 | 18246533 |
| DiaSorin SpA | &nbsp;&nbsp; 78339 | 8544507 |
| Enel SpA | &nbsp;&nbsp; 26579579 | 189756242 |
| Eni SpA | &nbsp;&nbsp; 7076748 | 113226490 |
| Ferrari NV | &nbsp;&nbsp; 411939 | 169542802 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 2004585 | 34030271 |
| Generali | &nbsp;&nbsp; 3334537 | 86307861 |
| Infrastrutture Wireless Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 1102103 | 12263342 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 47797813 | 194098897 |
| Leonardo SpA | &nbsp;&nbsp; 887232 | 21138631 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 1757593 | 28531425 |
| Moncler SpA | &nbsp;&nbsp; 719578 | 42905602 |
| Nexi SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 1936114 | 11883243 |
| Poste Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 1664891 | 22538535 |
| Prysmian SpA | &nbsp;&nbsp; 858992 | 59050973 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 343415 | 18696600 |
| Snam SpA | &nbsp;&nbsp; 6617496 | 31622530 |
| Stellantis NV | &nbsp;&nbsp; 7241066 | 120665550 |
| Telecom Italia SpA/Milano<sup>(a)(b)</sup> | &nbsp;&nbsp; 32929152 | 8071340 |
| Tenaris SA, NVS | &nbsp;&nbsp; 1518806 | 24098632 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 4610351 | 38391559 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| UniCredit SpA | &nbsp;&nbsp; 4969652 | $204126966 |
|  |  | 1499923710 |
| **Japan — 23.2%** | **Japan — 23.2%** | **Japan — 23.2%** |
| Advantest Corp. | &nbsp;&nbsp; 2504200 | 110839307 |
| Aeon Co. Ltd. | &nbsp;&nbsp; 2130300 | 48606163 |
| AGC Inc. | &nbsp;&nbsp; 636300 | 22773013 |
| Aisin Corp. | &nbsp;&nbsp; 471500 | 15906515 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 1529400 | 62988712 |
| ANA Holdings Inc. | &nbsp;&nbsp; 511500 | 9783830 |
| Asahi Group Holdings Ltd. | &nbsp;&nbsp; 1571200 | 57840869 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 4094700 | 29527963 |
| Asics Corp. | &nbsp;&nbsp; 2103700 | 34333076 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 5915950 | 68612892 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 1952600 | 41494210 |
| Bridgestone Corp. | &nbsp;&nbsp; 1865300 | 76055078 |
| Brother Industries Ltd. | &nbsp;&nbsp; 742000 | 15223135 |
| Canon Inc. | &nbsp;&nbsp; 3257100 | 101952751 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 1130000 | 24141225 |
| Central Japan Railway Co. | &nbsp;&nbsp; 2515500 | 59307797 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 1703700 | 15959362 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 2100400 | 26482934 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 2194600 | 95777772 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 3419000 | 21548282 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 687000 | 22601071 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 991600 | 17946259 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 3023352 | 92182899 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 6043185 | 246124803 |
| Daikin Industries Ltd. | &nbsp;&nbsp; 860900 | 124836141 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 194900 | 23438692 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 1911700 | 54136252 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 4347100 | 35890063 |
| Denso Corp. | &nbsp;&nbsp; 6172700 | 101226146 |
| Dentsu Group Inc. | &nbsp;&nbsp; 661600 | 17494826 |
| Disco Corp. | &nbsp;&nbsp; 301900 | 100954318 |
| East Japan Railway Co. | &nbsp;&nbsp; 2963400 | 56462859 |
| Eisai Co. Ltd. | &nbsp;&nbsp; 820400 | 31286713 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 9387450 | 49185926 |
| FANUC Corp. | &nbsp;&nbsp; 3113800 | 92314053 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 572000 | 157671079 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 414100 | 23291841 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 3650700 | 86798777 |
| Fujitsu Ltd. | &nbsp;&nbsp; 5741100 | 104259283 |
| Hamamatsu Photonics KK | &nbsp;&nbsp; 456900 | 13158236 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 738300 | 21066598 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 65600 | 12283881 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 340700 | 8485854 |
| Hitachi Ltd. | &nbsp;&nbsp; 15128900 | 326885040 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 14668100 | 156722376 |
| Hoshizaki Corp. | &nbsp;&nbsp; 350300 | 11032280 |
| Hoya Corp. | &nbsp;&nbsp; 1146900 | 143707411 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 1216500 | 11874381 |
| Ibiden Co. Ltd. | &nbsp;&nbsp; 367000 | 14225718 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 3232915 | 21292997 |
| Inpex Corp. | &nbsp;&nbsp; 3127443 | 48292364 |
| Isuzu Motors Ltd. | &nbsp;&nbsp; 1900500 | 25708304 |
| ITOCHU Corp. | &nbsp;&nbsp; 3880100 | 198984823 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 446800 | 7239445 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 1614700 | 37910589 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 4721300 | 49130635 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 6788700 | 71895443 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 623800 | 12842505 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 4184 | 14512231 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Japan Tobacco Inc. | &nbsp;&nbsp; 3907200 | $114970059 |
| JFE Holdings Inc. | &nbsp;&nbsp; 1877975 | 27509252 |
| Kajima Corp. | &nbsp;&nbsp; 1381200 | 26689642 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 2293400 | 39253359 |
| Kao Corp. | &nbsp;&nbsp; 1516500 | 66407036 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 1310400 | 20134491 |
| KDDI Corp. | &nbsp;&nbsp; 4890900 | 147167208 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 440900 | 13186906 |
| Keyence Corp. | &nbsp;&nbsp; 634592 | 277481776 |
| Kikkoman Corp. | &nbsp;&nbsp; 2251900 | 28180149 |
| Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp; 592500 | 13722408 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 2531800 | 35793504 |
| Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 491100 | 13185470 |
| Koito Manufacturing Co. Ltd. | &nbsp;&nbsp; 657400 | 9720516 |
| Komatsu Ltd. | &nbsp;&nbsp; 3022500 | 85922344 |
| Konami Group Corp. | &nbsp;&nbsp; 327400 | 24633440 |
| Kubota Corp. | &nbsp;&nbsp; 3258000 | 46839977 |
| Kyocera Corp. | &nbsp;&nbsp; 4188500 | 52753994 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 869300 | 18335795 |
| Lasertec Corp. | &nbsp;&nbsp; 261300 | 46363283 |
| LY Corp. | &nbsp;&nbsp; 8634622 | 21603089 |
| M3 Inc. | &nbsp;&nbsp; 1442600 | 13469926 |
| Makita Corp. | &nbsp;&nbsp; 731200 | 24102124 |
| Marubeni Corp. | &nbsp;&nbsp; 4647200 | 87459200 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 1118700 | 18243640 |
| Mazda Motor Corp. | &nbsp;&nbsp; 1858300 | 16028610 |
| McDonald's Holdings Co. Japan Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 272300 | 11281155 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 755908 | 19089978 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 1182200 | 28437011 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 4420900 | 26110917 |
| Mitsubishi Corp. | &nbsp;&nbsp; 10911700 | 225349013 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 6307500 | 105094088 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 3666200 | 62486446 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 2732500 | 19658745 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 10461200 | 125388733 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 36284980 | 419104235 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 8408300 | 195105231 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 573000 | 16566583 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 8709000 | 90224018 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 1121300 | 35616021 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 7882616 | 180197741 |
| MonotaRO Co. Ltd. | &nbsp;&nbsp; 804000 | 11365584 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 4188864 | 98750525 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 5631700 | 125293913 |
| NEC Corp. | &nbsp;&nbsp; 786400 | 68066564 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 1105000 | 23800266 |
| Nidec Corp. | &nbsp;&nbsp; 1364300 | 60016464 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 3389800 | 187314888 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 4903 | 18921904 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 238700 | 11811081 |
| Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp; 3059800 | 19532150 |
| Nippon Prologis REIT Inc. | &nbsp;&nbsp; 7299 | 12059391 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 556000 | 18171045 |
| Nippon Steel Corp. | &nbsp;&nbsp; 2785835 | 60487146 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 97681200 | 104100145 |
| Nippon Yusen KK | &nbsp;&nbsp; 1538200 | 49566771 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 409300 | 13206450 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 7758000 | 24624857 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 653800 | 19439293 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 261200 | 31943569 |
| Nitto Denko Corp. | &nbsp;&nbsp; 468900 | 40716213 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 9824400 | 60573395 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 368700 | $10306899 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 13490 | 13234354 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 1242371 | 38354094 |
| NTT Data Group Corp. | &nbsp;&nbsp; 2063455 | 32137108 |
| Obayashi Corp. | &nbsp;&nbsp; 2124200 | 27889309 |
| Obic Co. Ltd. | &nbsp;&nbsp; 224600 | 34247699 |
| Olympus Corp. | &nbsp;&nbsp; 3874000 | 66881057 |
| Omron Corp. | &nbsp;&nbsp; 564700 | 20946897 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 1231000 | 18160112 |
| Oracle Corp./Japan | &nbsp;&nbsp; 122000 | 9958760 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 3565500 | 102078491 |
| ORIX Corp. | &nbsp;&nbsp; 3777800 | 91383621 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 1207100 | 27321673 |
| Otsuka Corp. | &nbsp;&nbsp; 726300 | 16100456 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 1362600 | 69449408 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 1242500 | 32415840 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 7621768 | 62431262 |
| Rakuten Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4891400 | 28696251 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 4845900 | 277879855 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 4891500 | 84250573 |
| Resona Holdings Inc. | &nbsp;&nbsp; 6896600 | 49455069 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 1747700 | 16269871 |
| Rohm Co. Ltd. | &nbsp;&nbsp; 1097600 | 14964932 |
| SBI Holdings Inc. | &nbsp;&nbsp; 885380 | 23014246 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 264500 | 22413651 |
| SCSK Corp. | &nbsp;&nbsp; 503400 | 9910894 |
| Secom Co. Ltd. | &nbsp;&nbsp; 683800 | 43662510 |
| Seiko Epson Corp. | &nbsp;&nbsp; 945500 | 16366995 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 1245600 | 18793605 |
| Sekisui House Ltd. | &nbsp;&nbsp; 1942700 | 48676921 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 7307040 | 87499996 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 1026500 | 10438116 |
| Shimadzu Corp. | &nbsp;&nbsp; 762500 | 22489389 |
| Shimano Inc. | &nbsp;&nbsp; 248800 | 44138119 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 5886700 | 261550045 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 828500 | 36444946 |
| Shiseido Co. Ltd. | &nbsp;&nbsp; 1302500 | 40704998 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 1504300 | 15025387 |
| SMC Corp. | &nbsp;&nbsp; 187800 | 91376938 |
| SoftBank Corp. | &nbsp;&nbsp; 9326300 | 121659261 |
| SoftBank Group Corp. | &nbsp;&nbsp; 3362100 | 205466049 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 2929750 | 66803912 |
| Sony Group Corp. | &nbsp;&nbsp; 4079200 | 362308813 |
| Subaru Corp. | &nbsp;&nbsp; 1967200 | 37822365 |
| SUMCO Corp. | &nbsp;&nbsp; 1144200 | 18811092 |
| Sumitomo Corp. | &nbsp;&nbsp; 3398400 | 84441882 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 2328300 | 35220346 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 804800 | 24541628 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 4095800 | 295769678 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 2137420 | 54027210 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 933200 | 30844807 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 445500 | 16000644 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 5119300 | 58831926 |
| Sysmex Corp. | &nbsp;&nbsp; 1647000 | 26963475 |
| T&D Holdings Inc. | &nbsp;&nbsp; 1587200 | 29753234 |
| Taisei Corp. | &nbsp;&nbsp; 559400 | 23758473 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 5171210 | 145177921 |
| TDK Corp. | &nbsp;&nbsp; 1270300 | 88619047 |
| Terumo Corp. | &nbsp;&nbsp; 4369200 | 78332545 |
| TIS Inc. | &nbsp;&nbsp; 695500 | 14898604 |
| Toho Co. Ltd./Tokyo | &nbsp;&nbsp; 365200 | 13115143 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 6132100 | 240581329 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Tokyo Electric Power Co. Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4989700 | $24992210 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 1540300 | 322303694 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 1233200 | 27018950 |
| Tokyu Corp. | &nbsp;&nbsp; 1656400 | 20067915 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 773200 | 21870846 |
| Toray Industries Inc. | &nbsp;&nbsp; 4533000 | 23567305 |
| TOTO Ltd. | &nbsp;&nbsp; 452900 | 12470685 |
| Toyota Industries Corp. | &nbsp;&nbsp; 477100 | 40109842 |
| Toyota Motor Corp. | &nbsp;&nbsp; 34651720 | 665685707 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 2075700 | 41499508 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 431500 | 20682867 |
| Unicharm Corp. | &nbsp;&nbsp; 1313800 | 44013085 |
| West Japan Railway Co. | &nbsp;&nbsp; 1431300 | 28178050 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 829200 | 17003090 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 2918500 | 27177002 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 889300 | 10800623 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 782000 | 27216583 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 746400 | 18893052 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 308600 | 12561191 |
| ZOZO Inc. | &nbsp;&nbsp; 439800 | 12875114 |
|  |  | 12923193775 |
| **Netherlands — 5.0%** | **Netherlands — 5.0%** | **Netherlands — 5.0%** |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 1530954 | 26725636 |
| Adyen NV<sup>(a)(c)</sup> | &nbsp;&nbsp; 70937 | 86772843 |
| Aegon Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 4672823 | 30239019 |
| AerCap Holdings NV | &nbsp;&nbsp; 669393 | 62889472 |
| Akzo Nobel NV | &nbsp;&nbsp; 557561 | 34475228 |
| ASM International NV | &nbsp;&nbsp; 147506 | 101487221 |
| ASML Holding NV | &nbsp;&nbsp; 1305653 | 1215786615 |
| ASR Nederland NV | &nbsp;&nbsp; 509710 | 25608973 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 252428 | 32518938 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 674210 | 49736472 |
| DSM-Firmenich AG | &nbsp;&nbsp; 608447 | 77679755 |
| EXOR NV, NVS | &nbsp;&nbsp; 324040 | 33218118 |
| Heineken Holding NV | &nbsp;&nbsp; 423908 | 31237975 |
| Heineken NV | &nbsp;&nbsp; 940153 | 83429883 |
| IMCD NV | &nbsp;&nbsp; 186429 | 26807265 |
| ING Groep NV | &nbsp;&nbsp; 10795273 | 195944391 |
| InPost SA<sup>(a)</sup> | &nbsp;&nbsp; 653026 | 11314024 |
| JDE Peet's NV | &nbsp;&nbsp; 390803 | 8594030 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 3085773 | 99408761 |
| Koninklijke KPN NV | &nbsp;&nbsp; 12858660 | 50665487 |
| Koninklijke Philips NV<sup>(a)</sup> | &nbsp;&nbsp; 2622334 | 73660527 |
| NN Group NV | &nbsp;&nbsp; 865136 | 43416123 |
| OCI NV | &nbsp;&nbsp; 341293 | 8225292 |
| Prosus NV | &nbsp;&nbsp; 4632779 | 161606534 |
| Randstad NV | &nbsp;&nbsp; 346962 | 16898770 |
| Universal Music Group NV | &nbsp;&nbsp; 2690007 | 64088000 |
| Wolters Kluwer NV | &nbsp;&nbsp; 812197 | 135969320 |
|  |  | 2788404672 |
| **New Zealand — 0.2%** | **New Zealand — 0.2%** | **New Zealand — 0.2%** |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 4350119 | 19365517 |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 1902791 | 36733060 |
| Mercury NZ Ltd. | &nbsp;&nbsp; 2279868 | 9335219 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 4231661 | 16370071 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 5791558 | 14884204 |
|  |  | 96688071 |
| **Norway — 0.6%** | **Norway — 0.6%** | **Norway — 0.6%** |
| Aker BP ASA | &nbsp;&nbsp; 1013090 | 24531158 |
| DNB Bank ASA | &nbsp;&nbsp; 2763587 | 57095812 |
| Equinor ASA | &nbsp;&nbsp; 2941246 | 77884769 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 626735 | $10602958 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 287937 | 28953398 |
| Mowi ASA | &nbsp;&nbsp; 1517049 | 25605529 |
| Norsk Hydro ASA | &nbsp;&nbsp; 4324949 | 23989871 |
| Orkla ASA | &nbsp;&nbsp; 2333137 | 19690491 |
| Salmar ASA | &nbsp;&nbsp; 226273 | 13018576 |
| Telenor ASA | &nbsp;&nbsp; 2202651 | 26244627 |
| Yara International ASA | &nbsp;&nbsp; 540130 | 15386331 |
|  |  | 323003520 |
| **Portugal — 0.2%** | **Portugal — 0.2%** | **Portugal — 0.2%** |
| EDP Renovaveis SA | &nbsp;&nbsp; 1009132 | 15688000 |
| EDP SA | &nbsp;&nbsp; 10223404 | 42135404 |
| Galp Energia SGPS SA | &nbsp;&nbsp; 1549947 | 32589821 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 923652 | 16143900 |
|  |  | 106557125 |
| **Singapore — 1.4%** | **Singapore — 1.4%** | **Singapore — 1.4%** |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 12244800 | 24998473 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 17622225 | 27526556 |
| CapitaLand Investment Ltd./Singapore | &nbsp;&nbsp; 8370600 | 16971666 |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 6509660 | 178386886 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 19441600 | 12354223 |
| Grab Holdings Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 6882583 | 22712524 |
| Keppel Ltd. | &nbsp;&nbsp; 4768500 | 23732183 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 11066398 | 123176146 |
| Sea Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 1197312 | 78663398 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 2923600 | 10453533 |
| Singapore Airlines Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 4858900 | 25392171 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 2654800 | 19573580 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 5126200 | 16971707 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 26597285 | 61617057 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 336000 | 777617 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 4127000 | 100074304 |
| Wilmar International Ltd. | &nbsp;&nbsp; 6265800 | 14941010 |
|  |  | 758323034 |
| **Spain — 2.6%** | **Spain — 2.6%** | **Spain — 2.6%** |
| Acciona SA | &nbsp;&nbsp; 79050 | 10248320 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 719176 | 32130391 |
| Aena SME SA<sup>(c)</sup> | &nbsp;&nbsp; 245212 | 46589947 |
| Amadeus IT Group SA | &nbsp;&nbsp; 1472412 | 96974266 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 19053865 | 199707591 |
| Banco de Sabadell SA | &nbsp;&nbsp; 17725183 | 37404469 |
| Banco Santander SA | &nbsp;&nbsp; 51715679 | 249484057 |
| CaixaBank SA | &nbsp;&nbsp; 12216939 | 71252099 |
| Cellnex Telecom SA<sup>(c)</sup> | &nbsp;&nbsp; 1610866 | 56181703 |
| Endesa SA | &nbsp;&nbsp; 1024298 | 19875682 |
| Ferrovial SE | &nbsp;&nbsp; 1688676 | 67151481 |
| Grifols SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 946361 | 9558761 |
| Iberdrola SA | &nbsp;&nbsp; 19435742 | 256711041 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 3564837 | 173211373 |
| Redeia Corp. SA | &nbsp;&nbsp; 1347914 | 23932044 |
| Repsol SA | &nbsp;&nbsp; 3974848 | 56692938 |
| Telefonica SA | &nbsp;&nbsp; 14678914 | 66484304 |
|  |  | 1473590467 |
| **Sweden — 3.2%** | **Sweden — 3.2%** | **Sweden — 3.2%** |
| Alfa Laval AB | &nbsp;&nbsp; 946093 | 41832485 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 3276014 | 99768706 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 8778371 | 156234433 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 5103391 | 79847203 |
| Beijer Ref AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 1239678 | 19685629 |
| Boliden AB | &nbsp;&nbsp; 892719 | 27301664 |
| Epiroc AB | &nbsp;&nbsp; 2155245 | 40228449 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Epiroc AB, Class B | &nbsp;&nbsp; 1274466 | $21429400 |
| EQT AB | &nbsp;&nbsp; 1223898 | 39629672 |
| Essity AB, Class B | &nbsp;&nbsp; 1991972 | 56006914 |
| Evolution AB<sup>(c)</sup> | &nbsp;&nbsp; 601312 | 58248639 |
| Fastighets AB Balder, Class B<sup>(a)</sup> | &nbsp;&nbsp; 2162026 | 15943504 |
| Getinge AB, Class B | &nbsp;&nbsp; 733054 | 14314972 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 1871026 | 29108381 |
| Hexagon AB, Class B | &nbsp;&nbsp; 6787103 | 69122874 |
| Holmen AB, Class B | &nbsp;&nbsp; 246967 | 9708772 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 1134537 | 7661693 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 412667 | 14156202 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 513415 | 17403290 |
| Indutrade AB | &nbsp;&nbsp; 885654 | 26042704 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 475145 | 13953318 |
| Investor AB, Class B | &nbsp;&nbsp; 5656537 | 160589750 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 244347 | 12352604 |
| Lifco AB, Class B | &nbsp;&nbsp; 750592 | 22267438 |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 4948240 | 21743776 |
| Saab AB | &nbsp;&nbsp; 1048626 | 24213840 |
| Sagax AB, Class B | &nbsp;&nbsp; 716427 | 17698888 |
| Sandvik AB | &nbsp;&nbsp; 3486039 | 71365566 |
| Securitas AB, Class B | &nbsp;&nbsp; 1604278 | 17258185 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 5168051 | 79481977 |
| Skanska AB, Class B | &nbsp;&nbsp; 1109368 | 21690101 |
| SKF AB, Class B | &nbsp;&nbsp; 1104625 | 20535929 |
| Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 1977918 | 26887183 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 4751618 | 47962187 |
| Swedbank AB, Class A | &nbsp;&nbsp; 2772079 | 58945322 |
| Swedish Orphan Biovitrum AB<sup>(a)</sup> | &nbsp;&nbsp; 628672 | 16425356 |
| Tele2 AB, Class B | &nbsp;&nbsp; 1756302 | 18082291 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 9456821 | 65023763 |
| Telia Co. AB | &nbsp;&nbsp; 7606912 | 22108520 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 701768 | 26079503 |
| Volvo AB, Class A | &nbsp;&nbsp; 658148 | 17109543 |
| Volvo AB, Class B | &nbsp;&nbsp; 5191439 | 132489425 |
| Volvo Car AB<sup>(a)</sup> | &nbsp;&nbsp; 2419826 | 6865865 |
|  |  | 1764805916 |
| **Switzerland — 9.8%** | **Switzerland — 9.8%** | **Switzerland — 9.8%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 5228397 | 290210594 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 550496 | 18737956 |
| Alcon Inc. | &nbsp;&nbsp; 1633559 | 154672769 |
| Avolta AG, Registered | &nbsp;&nbsp; 317830 | 11992179 |
| Bachem Holding AG | &nbsp;&nbsp; 110707 | 9935037 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 147901 | 26468551 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 95733 | 10161810 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 11660 | 18761077 |
| BKW AG | &nbsp;&nbsp; 68169 | 12331188 |
| Chocoladefabriken Lindt & Spruengli AG, <br> Participation Certificates, NVS<br>| &nbsp;&nbsp; 3177 | 39819250 |
| Chocoladefabriken Lindt & Spruengli <br> AG, Registered<br>| &nbsp;&nbsp; 345 | 42720789 |
| Cie. Financiere Richemont SA, <br> Class A, Registered<br>| &nbsp;&nbsp; 1757030 | 268002089 |
| Clariant AG, Registered | &nbsp;&nbsp; 696531 | 10332029 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 22964 | 19203323 |
| Geberit AG, Registered | &nbsp;&nbsp; 109385 | 69641723 |
| Givaudan SA, Registered | &nbsp;&nbsp; 30169 | 148010758 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 119303 | 17797511 |
| Holcim AG | &nbsp;&nbsp; 1703869 | 159227248 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 674821 | 36931348 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 157502 | 48824139 |
| Logitech International SA, Registered | &nbsp;&nbsp; 531890 | 47910590 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Lonza Group AG, Registered | &nbsp;&nbsp; 243432 | $162103599 |
| Nestle SA, Registered | &nbsp;&nbsp; 8724889 | 883766625 |
| Novartis AG, Registered | &nbsp;&nbsp; 6440693 | 718960548 |
| Partners Group Holding AG | &nbsp;&nbsp; 74199 | 99875024 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 104886 | 36889650 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 2295846 | 743301686 |
| Sandoz Group AG | &nbsp;&nbsp; 1340977 | 58162533 |
| Schindler Holding AG, Participation <br> Certificates, NVS<br>| &nbsp;&nbsp; 133574 | 35751610 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 76908 | 20191383 |
| SGS SA | &nbsp;&nbsp; 488783 | 53440248 |
| SIG Group AG | &nbsp;&nbsp; 999568 | 20991011 |
| Sika AG, Registered | &nbsp;&nbsp; 498405 | 151323792 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 165490 | 50728636 |
| Straumann Holding AG | &nbsp;&nbsp; 363974 | 46935070 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 94714 | 19506815 |
| Swatch Group AG (The), Registered | &nbsp;&nbsp; 169638 | 6878403 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 96259 | 73706856 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 253076 | 25363355 |
| Swiss Re AG | &nbsp;&nbsp; 986170 | 121578332 |
| Swisscom AG, Registered | &nbsp;&nbsp; 84439 | 51680218 |
| Temenos AG, Registered | &nbsp;&nbsp; 205689 | 14282733 |
| UBS Group AG, Registered | &nbsp;&nbsp; 10749203 | 325708076 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 88431 | 44315948 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 478342 | 262978140 |
|  |  | 5490112249 |
| **United Kingdom — 15.0%** | **United Kingdom — 15.0%** | **United Kingdom — 15.0%** |
| 3i Group PLC | &nbsp;&nbsp; 3180439 | 127951323 |
| Admiral Group PLC | &nbsp;&nbsp; 850706 | 30148681 |
| Anglo American PLC | &nbsp;&nbsp; 4151968 | 125872385 |
| Antofagasta PLC | &nbsp;&nbsp; 1285609 | 33476217 |
| Ashtead Group PLC | &nbsp;&nbsp; 1423703 | 102744945 |
| Associated British Foods PLC | &nbsp;&nbsp; 1101112 | 35153285 |
| AstraZeneca PLC | &nbsp;&nbsp; 5065319 | 804731150 |
| Auto Trader Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 2921462 | 30601907 |
| Aviva PLC | &nbsp;&nbsp; 8644867 | 55689170 |
| BAE Systems PLC | &nbsp;&nbsp; 9886923 | 164895136 |
| Barclays PLC | &nbsp;&nbsp; 49104047 | 146836110 |
| Barratt Developments PLC | &nbsp;&nbsp; 3118052 | 21099519 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 339330 | 22152270 |
| BP PLC | &nbsp;&nbsp; 54966725 | 324914392 |
| British American Tobacco PLC | &nbsp;&nbsp; 6561004 | 232791178 |
| BT Group PLC | &nbsp;&nbsp; 21689400 | 39333756 |
| Bunzl PLC | &nbsp;&nbsp; 1100472 | 46109065 |
| Burberry Group PLC | &nbsp;&nbsp; 1208379 | 12093236 |
| Centrica PLC | &nbsp;&nbsp; 17696340 | 30171798 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 718012 | 26200195 |
| Compass Group PLC | &nbsp;&nbsp; 5564508 | 171359065 |
| Croda International PLC | &nbsp;&nbsp; 439798 | 22866927 |
| DCC PLC | &nbsp;&nbsp; 318680 | 21955443 |
| Diageo PLC | &nbsp;&nbsp; 7260726 | 225917258 |
| Endeavour Mining PLC | &nbsp;&nbsp; 600400 | 13411447 |
| Entain PLC | &nbsp;&nbsp; 2080151 | 15286233 |
| Experian PLC | &nbsp;&nbsp; 3001218 | 141597493 |
| Flutter Entertainment PLC<sup>(a)</sup> | &nbsp;&nbsp; 579053 | 114540011 |
| Glencore PLC | &nbsp;&nbsp; 33885528 | 188025286 |
| GSK PLC | &nbsp;&nbsp; 13543218 | 262992800 |
| Haleon PLC | &nbsp;&nbsp; 22329435 | 100156491 |
| Halma PLC | &nbsp;&nbsp; 1235942 | 42304525 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 1146931 | 16293397 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 541760 | 13245953 |
| HSBC Holdings PLC | &nbsp;&nbsp; 61765738 | 561704018 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Imperial Brands PLC | &nbsp;&nbsp; 2738806 | $75486531 |
| Informa PLC | &nbsp;&nbsp; 4425145 | 49451772 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 544447 | 54850649 |
| Intertek Group PLC | &nbsp;&nbsp; 525417 | 34119502 |
| J Sainsbury PLC | &nbsp;&nbsp; 5330732 | 18903825 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 8355474 | 14136164 |
| Kingfisher PLC | &nbsp;&nbsp; 6141020 | 21832118 |
| Land Securities Group PLC | &nbsp;&nbsp; 2303750 | 18838705 |
| Legal & General Group PLC | &nbsp;&nbsp; 19538473 | 58275953 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 206935670 | 158088469 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 1487556 | 181073741 |
| M&G PLC | &nbsp;&nbsp; 7360069 | 20097736 |
| Melrose Industries PLC | &nbsp;&nbsp; 4303676 | 32588764 |
| Mondi PLC, NVS | &nbsp;&nbsp; 1440479 | 28163754 |
| National Grid PLC | &nbsp;&nbsp; 15699083 | 199192722 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 21301881 | 101066434 |
| Next PLC | &nbsp;&nbsp; 393718 | 46017642 |
| NMC Health PLC, NVS<sup>(d)</sup> | &nbsp;&nbsp; 473933 | 6 |
| Pearson PLC | &nbsp;&nbsp; 2044722 | 27742730 |
| Persimmon PLC | &nbsp;&nbsp; 1040763 | 21223524 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 2421789 | 17056882 |
| Prudential PLC | &nbsp;&nbsp; 8951635 | 80783018 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 2308563 | 124186027 |
| RELX PLC | &nbsp;&nbsp; 6133777 | 289498848 |
| Rentokil Initial PLC | &nbsp;&nbsp; 8218707 | 50184704 |
| Rio Tinto PLC | &nbsp;&nbsp; 3683242 | 239531894 |
| Rolls-Royce Holdings PLC<sup>(a)</sup> | &nbsp;&nbsp; 27501211 | 159237568 |
| Sage Group PLC (The) | &nbsp;&nbsp; 3270475 | 45716513 |
| Schroders PLC | &nbsp;&nbsp; 2624074 | 13260689 |
| Segro PLC | &nbsp;&nbsp; 4138692 | 48714920 |
| Severn Trent PLC | &nbsp;&nbsp; 879554 | 29077757 |
| Shell PLC | &nbsp;&nbsp; 20896277 | 761959348 |
| Smith & Nephew PLC | &nbsp;&nbsp; 2846420 | 41024946 |
| Smiths Group PLC | &nbsp;&nbsp; 1140665 | 26200114 |
| Spirax Group PLC | &nbsp;&nbsp; 237527 | 27730566 |
| SSE PLC | &nbsp;&nbsp; 3572787 | 86467874 |
| Standard Chartered PLC | &nbsp;&nbsp; 7186587 | 70991157 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 11564094 | 23708417 |
| Tesco PLC | &nbsp;&nbsp; 22947910 | 97860670 |
| Unilever PLC | &nbsp;&nbsp; 8186014 | 503068828 |
| United Utilities Group PLC | &nbsp;&nbsp; 2228050 | 29609953 |
| Vodafone Group PLC | &nbsp;&nbsp; 74936154 | 70121467 |
| Whitbread PLC | &nbsp;&nbsp; 629629 | 23592177 |
| Wise PLC, Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 1977025 | 18203629 |
| WPP PLC | &nbsp;&nbsp; 3511269 | 33869974 |
|  |  | 8397430746 |
| **Total Common Stocks — 99.2%** <br>**(Cost: $44,181,252,413)** | **Total Common Stocks — 99.2%** <br>**(Cost: $44,181,252,413)** | 55332925151 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.4%** | **Germany — 0.4%** | **Germany — 0.4%** |
| Bayerische Motoren Werke AG, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 193603 | $16597889 |
| Dr Ing hc F Porsche AG, Preference <br> Shares, NVS<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 371130 | 27946351 |
| Henkel AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 552129 | 47230088 |
| Porsche Automobil Holding SE, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 499910 | 22345709 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 84593 | 23992425 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 674082 | 75229555 |
|  |  | 213342017 |
| **Total Preferred Stocks — 0.4%** <br>**(Cost: $290,227,001)** | **Total Preferred Stocks — 0.4%** <br>**(Cost: $290,227,001)** | 213342017 |
| **Total Long-Term Investments — 99.6%** <br>**(Cost: $44,471,479,414)** | **Total Long-Term Investments — 99.6%** <br>**(Cost: $44,471,479,414)** | 55546267168 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.4%** | **Money Market Funds — 0.4%** | **Money Market Funds — 0.4%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp; 145613000 | 145671245 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(e)(f)</sup><br>| &nbsp;&nbsp; 68020000 | 68020000 |
| **Total Short-Term Securities — 0.4%** <br>**(Cost: $213,620,432)** | **Total Short-Term Securities — 0.4%** <br>**(Cost: $213,620,432)** | 213691245 |
| **Total Investments — 100.0%** <br>**(Cost: $44,685,099,846)** | **Total Investments — 100.0%** <br>**(Cost: $44,685,099,846)** | 55759958413 |
| **Other Assets Less Liabilities — 0.0%** | **Other Assets Less Liabilities — 0.0%** | 4396581 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $55764354994 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Annualized 7-day yield as of period end.

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

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $125894889<br> $19782491 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(229)<br>| $(5906)<br>| $145671245 | 145613000 | $713042 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 60760000<br> 7260000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 68020000 | 68020000 | 2881326 | &nbsp;&nbsp; — |
|  |  |  | $(229)<br>| $(5906)<br>| $213691245 |  | $3594368 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 285 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $52676 | &nbsp;&nbsp; $(213435)<br>|
| SPI 200 Index | &nbsp;&nbsp; 138 | &nbsp;&nbsp; 09/19/24 | &nbsp;&nbsp; 18236 | &nbsp;&nbsp; 848576 |
| STOXX Europe 600 Index | &nbsp;&nbsp; 5219 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 146801 | &nbsp;&nbsp; 1070921 |
|  |  |  |  | &nbsp;&nbsp; $1706062 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1919497 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1919497 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $213435 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $213435 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE ETF**

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $29850048 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $29850048 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(4329457)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(4329457)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $241337042 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $581116121 | &nbsp;&nbsp; $54751809024 | &nbsp;&nbsp; $6 | &nbsp;&nbsp; $55332925151 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 213342017 | &nbsp;&nbsp; — | &nbsp;&nbsp; 213342017 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 213691245 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 213691245 |
|  | &nbsp;&nbsp; $794807366 | &nbsp;&nbsp; $54965151041 | &nbsp;&nbsp; $6 | &nbsp;&nbsp; $55759958413 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1919497 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1919497 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (213435)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (213435)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1706062 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1706062 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 8.9%** | **Australia — 8.9%** | **Australia — 8.9%** |
| Abacus Group | &nbsp;&nbsp; 1543317 | $1115173 |
| Abacus Storage King | &nbsp;&nbsp; 1899904 | 1588723 |
| Accent Group Ltd. | &nbsp;&nbsp; 1392208 | 1998774 |
| AET&D Holdings No. 1 Pty Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 169200 | 1 |
| AGL Energy Ltd. | &nbsp;&nbsp; 2123365 | 14434230 |
| Alpha HPA Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 3154466 | 1764492 |
| ALS Ltd. | &nbsp;&nbsp; 1695359 | 17164203 |
| Amotiv Ltd. | &nbsp;&nbsp; 503573 | 3576236 |
| AMP Ltd. | &nbsp;&nbsp; 9521431 | 7396656 |
| Ansell Ltd. | &nbsp;&nbsp; 488978 | 8754608 |
| APM Human Services International Ltd. | &nbsp;&nbsp; 1062538 | 992372 |
| ARB Corp. Ltd. | &nbsp;&nbsp; 275261 | 7605858 |
| Arena REIT | &nbsp;&nbsp; 1243203 | 3155646 |
| Atlas Arteria Ltd. | &nbsp;&nbsp; 4041445 | 13880702 |
| AUB Group Ltd. | &nbsp;&nbsp; 359934 | 7605649 |
| Audinate Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 268156 | 2619784 |
| Aussie Broadband Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 829067 | 1734579 |
| Austal Ltd. | &nbsp;&nbsp; 1152372 | 1978455 |
| Australian Agricultural Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 711676 | 651561 |
| Bank of Queensland Ltd. | &nbsp;&nbsp; 2335445 | 9650961 |
| Bapcor Ltd. | &nbsp;&nbsp; 1209390 | 4066508 |
| Beach Energy Ltd. | &nbsp;&nbsp; 5636687 | 5477064 |
| Bega Cheese Ltd. | &nbsp;&nbsp; 963609 | 2816236 |
| Bellevue Gold Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 4134012 | 3732314 |
| Bendigo & Adelaide Bank Ltd. | &nbsp;&nbsp; 1984393 | 16245311 |
| Boss Energy Ltd. <sup>(b)(c)</sup> | &nbsp;&nbsp; 1454178 | 3491440 |
| Breville Group Ltd. | &nbsp;&nbsp; 354730 | 6816238 |
| Brickworks Ltd. | &nbsp;&nbsp; 269829 | 5094811 |
| BWP Trust | &nbsp;&nbsp; 2019231 | 4736578 |
| Capricorn Metals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1116591 | 3951802 |
| Centuria Capital Group | &nbsp;&nbsp; 2305087 | 2572203 |
| Centuria Industrial REIT | &nbsp;&nbsp; 1875292 | 3908694 |
| Centuria Office REIT | &nbsp;&nbsp; 1250456 | 1020292 |
| Cettire Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 928235 | 808704 |
| Challenger Ltd. | &nbsp;&nbsp; 1449218 | 6679360 |
| Champion Iron Ltd. | &nbsp;&nbsp; 1362920 | 5600606 |
| Charter Hall Group | &nbsp;&nbsp; 1646692 | 13751416 |
| Charter Hall Long Wale REIT | &nbsp;&nbsp; 2294751 | 5367607 |
| Charter Hall Retail REIT | &nbsp;&nbsp; 1858522 | 4252336 |
| Charter Hall Social Infrastructure REIT | &nbsp;&nbsp; 1142066 | 1920605 |
| Cleanaway Waste Management Ltd. | &nbsp;&nbsp; 7362618 | 13610204 |
| Clinuvel Pharmaceuticals Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 140426 | 1374956 |
| Codan Ltd./Australia | &nbsp;&nbsp; 357231 | 3069690 |
| Collins Foods Ltd. | &nbsp;&nbsp; 394078 | 2368216 |
| Coronado Global Resources Inc.<sup>(d)</sup> | &nbsp;&nbsp; 3087146 | 2914505 |
| Corporate Travel Management Ltd. | &nbsp;&nbsp; 437059 | 3862827 |
| Credit Corp. Group Ltd. | &nbsp;&nbsp; 237703 | 2726781 |
| Cromwell Property Group | &nbsp;&nbsp; 5122856 | 1394914 |
| Data#3 Ltd. | &nbsp;&nbsp; 488840 | 2828959 |
| De Grey Mining Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 6631646 | 5317442 |
| Deep Yellow Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3040905 | 2577696 |
| Deterra Royalties Ltd. | &nbsp;&nbsp; 1486313 | 3885934 |
| Dexus Industria REIT | &nbsp;&nbsp; 689648 | 1309462 |
| Dicker Data Ltd. | &nbsp;&nbsp; 314793 | 2108744 |
| Domain Holdings Australia Ltd. | &nbsp;&nbsp; 884577 | 1867377 |
| Domino's Pizza Enterprises Ltd. | &nbsp;&nbsp; 238896 | 5138213 |
| Downer EDI Ltd. | &nbsp;&nbsp; 2336805 | 7627384 |
| Eagers Automotive Ltd. | &nbsp;&nbsp; 545144 | 3800535 |
| Elders Ltd. | &nbsp;&nbsp; 558356 | 3480125 |
| Emerald Resources NL<sup>(b)</sup> | &nbsp;&nbsp; 1867774 | 4548000 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Evolution Mining Ltd. | &nbsp;&nbsp; 6963418 | $18042034 |
| EVT Ltd. | &nbsp;&nbsp; 325375 | 2468352 |
| Firefinch Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 4681624 | 336770 |
| FleetPartners Group Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 936903 | 2096919 |
| Flight Centre Travel Group Ltd. | &nbsp;&nbsp; 640994 | 9332799 |
| G8 Education Ltd. | &nbsp;&nbsp; 2587723 | 2208375 |
| Genesis Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3480611 | 4800548 |
| Gold Road Resources Ltd. | &nbsp;&nbsp; 3798492 | 4247231 |
| GrainCorp Ltd., Class A | &nbsp;&nbsp; 773292 | 4568931 |
| Growthpoint Properties Australia Ltd. | &nbsp;&nbsp; 1044601 | 1596055 |
| Hansen Technologies Ltd. | &nbsp;&nbsp; 596693 | 1756637 |
| Harvey Norman Holdings Ltd. | &nbsp;&nbsp; 1940276 | 6093665 |
| Healius Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 2239675 | 2215791 |
| HealthCo REIT<sup>(c)</sup> | &nbsp;&nbsp; 1595458 | 1245633 |
| Helia Group Ltd. | &nbsp;&nbsp; 1020240 | 2666259 |
| HMC Capital Ltd. | &nbsp;&nbsp; 754247 | 3848457 |
| HomeCo Daily Needs REIT | &nbsp;&nbsp; 5886424 | 4905652 |
| HUB24 Ltd. | &nbsp;&nbsp; 265174 | 8636449 |
| IDP Education Ltd. | &nbsp;&nbsp; 920970 | 9044542 |
| IGO Ltd. | &nbsp;&nbsp; 2395238 | 8771622 |
| Iluka Resources Ltd. | &nbsp;&nbsp; 1484554 | 5906096 |
| Imdex Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1802909 | 2708771 |
| Incitec Pivot Ltd. | &nbsp;&nbsp; 6788058 | 13104937 |
| Ingenia Communities Group | &nbsp;&nbsp; 1356795 | 4678695 |
| Inghams Group Ltd. | &nbsp;&nbsp; 1296674 | 3196681 |
| Insignia Financial Ltd. | &nbsp;&nbsp; 1877570 | 3401746 |
| IPH Ltd. | &nbsp;&nbsp; 785522 | 3152812 |
| IRESS Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 662342 | 4625423 |
| JB Hi-Fi Ltd. | &nbsp;&nbsp; 380559 | 17375814 |
| Johns Lyng Group Ltd. | &nbsp;&nbsp; 745442 | 2912292 |
| Judo Capital Holdings Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 2468807 | 2241134 |
| Jumbo Interactive Ltd. | &nbsp;&nbsp; 183735 | 1966019 |
| Karoon Energy Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2639166 | 3200411 |
| Kelsian Group Ltd. | &nbsp;&nbsp; 625920 | 2152856 |
| Latin Resources Ltd., NVS<sup>(b)(c)</sup> | &nbsp;&nbsp; 8204597 | 812825 |
| Lendlease Corp. Ltd. | &nbsp;&nbsp; 2309344 | 9532633 |
| Leo Lithium Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 4370759 | 1154736 |
| Lifestyle Communities Ltd. | &nbsp;&nbsp; 379395 | 2242628 |
| Liontown Resources Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 5099485 | 3195316 |
| Lovisa Holdings Ltd. | &nbsp;&nbsp; 234545 | 5378886 |
| Lynas Rare Earths Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 3104701 | 12693346 |
| MA Financial Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 369656 | 1091525 |
| Maas Group Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 374298 | 1076998 |
| Mader Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 173264 | 708162 |
| Magellan Financial Group Ltd. | &nbsp;&nbsp; 628412 | 4219044 |
| McMillan Shakespeare Ltd. | &nbsp;&nbsp; 192010 | 2253190 |
| Megaport Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 533727 | 3863878 |
| Metcash Ltd. | &nbsp;&nbsp; 3593862 | 8609004 |
| Monadelphous Group Ltd. | &nbsp;&nbsp; 325336 | 2766454 |
| Mount Gibson Iron Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2610143 | 607603 |
| Nanosonics Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 886238 | 1833267 |
| National Storage REIT | &nbsp;&nbsp; 4501738 | 7305513 |
| Netwealth Group Ltd. | &nbsp;&nbsp; 427224 | 6640237 |
| Neuren Pharmaceuticals Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 412025 | 5222380 |
| New Hope Corp. Ltd. | &nbsp;&nbsp; 1826582 | 5825314 |
| NEXTDC Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2090967 | 23026211 |
| nib holdings Ltd. | &nbsp;&nbsp; 1711599 | 8427478 |
| Nick Scali Ltd. | &nbsp;&nbsp; 250100 | 2577264 |
| Nickel Industries Ltd. | &nbsp;&nbsp; 6029980 | 3379779 |
| Nine Entertainment Co. Holdings Ltd. | &nbsp;&nbsp; 4679860 | 4456840 |
| NRW Holdings Ltd. | &nbsp;&nbsp; 1472633 | 3225260 |
| Nufarm Ltd./Australia | &nbsp;&nbsp; 1281652 | 3907410 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Objective Corp. Ltd. | &nbsp;&nbsp; 113890 | $923949 |
| oOh!media Ltd. | &nbsp;&nbsp; 1894289 | 1799308 |
| Orora Ltd. | &nbsp;&nbsp; 4723621 | 6320418 |
| Paladin Energy Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 989829 | 7425397 |
| Pepper Money Ltd./Australia | &nbsp;&nbsp; 601125 | 568038 |
| Perenti Ltd. | &nbsp;&nbsp; 2810880 | 1935151 |
| Perpetual Ltd. | &nbsp;&nbsp; 367364 | 5336300 |
| Perseus Mining Ltd. | &nbsp;&nbsp; 4819066 | 8029457 |
| PEXA Group Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 468897 | 4254949 |
| Pinnacle Investment Management Group Ltd. | &nbsp;&nbsp; 506310 | 5466081 |
| Platinum Asset Management Ltd. | &nbsp;&nbsp; 1535728 | 1075048 |
| PolyNovo Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2310235 | 4073020 |
| Premier Investments Ltd. | &nbsp;&nbsp; 308991 | 6718320 |
| PWR Holdings Ltd. | &nbsp;&nbsp; 293837 | 2286641 |
| Qube Holdings Ltd. | &nbsp;&nbsp; 5867270 | 14692841 |
| Ramelius Resources Ltd. | &nbsp;&nbsp; 3798201 | 4847156 |
| Red 5 Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 21668555 | 5557675 |
| Redox Ltd./Australia, NVS<sup>(c)</sup> | &nbsp;&nbsp; 692883 | 1420076 |
| Region RE Ltd. | &nbsp;&nbsp; 4095179 | 6097776 |
| Regis Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2651276 | 2925314 |
| Reliance Worldwide Corp. Ltd. | &nbsp;&nbsp; 2772675 | 9346186 |
| Resolute Mining Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 7346435 | 3155812 |
| Rural Funds Group | &nbsp;&nbsp; 1321577 | 1844788 |
| Sandfire Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1606750 | 9177157 |
| SG Fleet Group Ltd. | &nbsp;&nbsp; 384553 | 799977 |
| Sigma Healthcare Ltd. | &nbsp;&nbsp; 4742596 | 4040791 |
| Silex Systems Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 634476 | 1952912 |
| Sims Ltd. | &nbsp;&nbsp; 583147 | 3893352 |
| SiteMinder Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 762499 | 2801510 |
| SmartGroup Corp. Ltd. | &nbsp;&nbsp; 446588 | 2527351 |
| Stanmore Resources Ltd. | &nbsp;&nbsp; 1147005 | 2792921 |
| Star Entertainment Group Ltd. (The)<sup>(b)</sup> | &nbsp;&nbsp; 8456854 | 3232213 |
| Steadfast Group Ltd. | &nbsp;&nbsp; 3698951 | 15701625 |
| Strike Energy Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 8761008 | 1145400 |
| Super Retail Group Ltd. | &nbsp;&nbsp; 537140 | 5626920 |
| Tabcorp Holdings Ltd. | &nbsp;&nbsp; 8005528 | 3387289 |
| Technology One Ltd. | &nbsp;&nbsp; 1016053 | 13725314 |
| Telix Pharmaceuticals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 865949 | 10871103 |
| Temple & Webster Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 298407 | 1910481 |
| Ventia Services Group Pty Ltd. | &nbsp;&nbsp; 2834731 | 8161327 |
| Viva Energy Group Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 4311023 | 9196065 |
| Vulcan Steel Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 236970 | 969604 |
| WA1 Resources Ltd., NVS<sup>(b)(c)</sup> | &nbsp;&nbsp; 136506 | 1423648 |
| Waypoint REIT Ltd. | &nbsp;&nbsp; 2309190 | 3835163 |
| Webjet Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 1334599 | 7807343 |
| Weebit Nano Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 614180 | 949417 |
| West African Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3796017 | 3731472 |
| Westgold Resources Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 3264847 | 5609177 |
| Whitehaven Coal Ltd. | &nbsp;&nbsp; 2795907 | 14115018 |
| Worley Ltd. | &nbsp;&nbsp; 1664775 | 16512785 |
| Yancoal Australia Ltd., NVS | &nbsp;&nbsp; 1396542 | 6472263 |
| Zip Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3423972 | 4326336 |
|  |  | 864125976 |
| **Austria — 1.0%** | **Austria — 1.0%** | **Austria — 1.0%** |
| Andritz AG | &nbsp;&nbsp; 237396 | 15207653 |
| AT&S Austria Technologie & <br> Systemtechnik AG<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 87981 | 1877788 |
| BAWAG Group AG<sup>(d)</sup> | &nbsp;&nbsp; 258812 | 18901027 |
| CA Immobilien Anlagen AG | &nbsp;&nbsp; 148890 | 4866313 |
| DO & CO AG | &nbsp;&nbsp; 27046 | 4557398 |
| EVN AG | &nbsp;&nbsp; 126959 | 4149733 |
| Immofinanz AG<sup>(b)</sup> | &nbsp;&nbsp; 122079 | 3621995 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Austria (continued)** | **Austria (continued)** | **Austria (continued)** |
| Lenzing AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 66458 | $2314508 |
| Oesterreichische Post AG | &nbsp;&nbsp; 121271 | 4002989 |
| Palfinger AG | &nbsp;&nbsp; 53888 | 1318039 |
| Porr AG | &nbsp;&nbsp; 77666 | 1181985 |
| Raiffeisen Bank International AG | &nbsp;&nbsp; 458669 | 8941897 |
| Schoeller-Bleckmann Oilfield Equipment AG<sup>(c)</sup> | &nbsp;&nbsp; 36085 | 1434181 |
| UNIQA Insurance Group AG | &nbsp;&nbsp; 437608 | 3746552 |
| Vienna Insurance Group AG Wiener <br> Versicherung Gruppe<br>| &nbsp;&nbsp; 133179 | 4289546 |
| Wienerberger AG | &nbsp;&nbsp; 394074 | 13971700 |
|  |  | 94383304 |
| **Belgium — 1.2%** | **Belgium — 1.2%** | **Belgium — 1.2%** |
| Ackermans & van Haaren NV | &nbsp;&nbsp; 77656 | 14899036 |
| Aedifica SA | &nbsp;&nbsp; 166558 | 10586860 |
| Barco NV | &nbsp;&nbsp; 246004 | 3177664 |
| Bekaert SA | &nbsp;&nbsp; 127205 | 5208619 |
| bpost SA | &nbsp;&nbsp; 346203 | 989150 |
| Cofinimmo SA | &nbsp;&nbsp; 132776 | 8536497 |
| Colruyt Group NV | &nbsp;&nbsp; 155611 | 7464207 |
| Deme Group NV | &nbsp;&nbsp; 26887 | 4842635 |
| Fagron | &nbsp;&nbsp; 235258 | 4840866 |
| Galapagos NV<sup>(b)</sup> | &nbsp;&nbsp; 158072 | 4225873 |
| KBC Ancora | &nbsp;&nbsp; 126992 | 6175466 |
| Kinepolis Group NV<sup>(c)</sup> | &nbsp;&nbsp; 47580 | 1927010 |
| Melexis NV | &nbsp;&nbsp; 72169 | 6291494 |
| Montea NV | &nbsp;&nbsp; 57779 | 5011498 |
| Ontex Group NV<sup>(b)</sup> | &nbsp;&nbsp; 223624 | 2101599 |
| Proximus SADP | &nbsp;&nbsp; 466070 | 3370677 |
| Recticel SA | &nbsp;&nbsp; 142280 | 1903246 |
| Retail Estates NV | &nbsp;&nbsp; 37692 | 2571468 |
| Shurgard Self Storage Ltd. | &nbsp;&nbsp; 120293 | 4703044 |
| Solvay SA | &nbsp;&nbsp; 259319 | 9129200 |
| Tessenderlo Group SA | &nbsp;&nbsp; 89701 | 2393837 |
| VGP NV | &nbsp;&nbsp; 48297 | 5232813 |
| Xior Student Housing NV | &nbsp;&nbsp; 116280 | 3910191 |
|  |  | 119492950 |
| **China — 0.0%** | **China — 0.0%** | **China — 0.0%** |
| OSL Group Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 1116131 | 825811 |
| **Denmark — 2.4%** | **Denmark — 2.4%** | **Denmark — 2.4%** |
| ALK-Abello A/S<sup>(b)</sup> | &nbsp;&nbsp; 463683 | 10451362 |
| Alm Brand A/S | &nbsp;&nbsp; 2950886 | 5629584 |
| Amagerbanken A/S<sup>(a)</sup> | &nbsp;&nbsp; 130550 |  |
| Ambu A/S, Class B<sup>(b)</sup> | &nbsp;&nbsp; 653139 | 13262868 |
| Bavarian Nordic A/S<sup>(b)</sup> | &nbsp;&nbsp; 273509 | 7372063 |
| cBrain A/S | &nbsp;&nbsp; 39932 | 1480849 |
| Chemometec A/S | &nbsp;&nbsp; 54998 | 3048999 |
| D/S Norden A/S | &nbsp;&nbsp; 76778 | 3321218 |
| DFDS A/S | &nbsp;&nbsp; 110468 | 3030022 |
| FLSmidth & Co. A/S | &nbsp;&nbsp; 150416 | 7673208 |
| GN Store Nord A/S<sup>(b)</sup> | &nbsp;&nbsp; 474582 | 12470696 |
| H Lundbeck A/S | &nbsp;&nbsp; 946042 | 5918765 |
| H Lundbeck A/S, Class A | &nbsp;&nbsp; 182104 | 979539 |
| ISS A/S<sup>(c)</sup> | &nbsp;&nbsp; 556318 | 10168690 |
| Jyske Bank A/S, Registered | &nbsp;&nbsp; 168079 | 13702287 |
| Matas A/S | &nbsp;&nbsp; 125333 | 2141535 |
| Netcompany Group A/S<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 156602 | 6665264 |
| Nilfisk Holding A/S<sup>(b)</sup> | &nbsp;&nbsp; 44300 | 825435 |
| NKT A/S<sup>(b)</sup> | &nbsp;&nbsp; 188137 | 16935689 |
| NTG Nordic Transport Group A/S, Class A<sup>(b)(c)</sup> | &nbsp;&nbsp; 22894 | 971031 |
| Per Aarsleff Holding A/S | &nbsp;&nbsp; 60660 | 3470483 |
| Ringkjoebing Landbobank A/S | &nbsp;&nbsp; 96149 | 17017796 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| Royal Unibrew A/S<sup>(b)</sup> | &nbsp;&nbsp; 175554 | $13783303 |
| Scandinavian Tobacco Group A/S, Class A<sup>(d)</sup> | &nbsp;&nbsp; 199703 | 2925139 |
| Schouw & Co. A/S | &nbsp;&nbsp; 44504 | 3672416 |
| Spar Nord Bank A/S | &nbsp;&nbsp; 245080 | 4998185 |
| Svitzer A/S, NVS<sup>(b)</sup> | &nbsp;&nbsp; 50199 | 1923759 |
| Sydbank A/S | &nbsp;&nbsp; 196449 | 10591012 |
| Topdanmark A/S | &nbsp;&nbsp; 157712 | 8590746 |
| TORM PLC, Class A | &nbsp;&nbsp; 165001 | 6389483 |
| Zealand Pharma A/S<sup>(b)</sup> | &nbsp;&nbsp; 236205 | 31821820 |
|  |  | 231233246 |
| **Finland — 1.2%** | **Finland — 1.2%** | **Finland — 1.2%** |
| Cargotec OYJ, Class B | &nbsp;&nbsp; 134400 | 6850719 |
| Citycon OYJ | &nbsp;&nbsp; 323381 | 1424123 |
| Finnair OYJ<sup>(b)(c)</sup> | &nbsp;&nbsp; 323060 | 822645 |
| Harvia OYJ | &nbsp;&nbsp; 48763 | 2098444 |
| Huhtamaki OYJ | &nbsp;&nbsp; 343694 | 13926286 |
| Kalmar OYJ<sup>(b)</sup> | &nbsp;&nbsp; 134397 | 3973725 |
| Kemira OYJ | &nbsp;&nbsp; 379321 | 8579870 |
| Kempower OYJ<sup>(b)(c)</sup> | &nbsp;&nbsp; 69554 | 1126111 |
| Kojamo OYJ<sup>(b)</sup> | &nbsp;&nbsp; 470627 | 4654380 |
| Konecranes OYJ | &nbsp;&nbsp; 235719 | 16465748 |
| Mandatum OYJ | &nbsp;&nbsp; 1514825 | 7015952 |
| Marimekko OYJ | &nbsp;&nbsp; 100434 | 1486943 |
| Metsa Board OYJ, Class B | &nbsp;&nbsp; 574184 | 4387343 |
| Musti Group OYJ<sup>(b)</sup> | &nbsp;&nbsp; 21837 | 602644 |
| Nokian Renkaat OYJ | &nbsp;&nbsp; 417527 | 3809626 |
| Outokumpu OYJ | &nbsp;&nbsp; 1285348 | 4634330 |
| Puuilo OYJ | &nbsp;&nbsp; 265606 | 2917189 |
| QT Group OYJ<sup>(b)(c)</sup> | &nbsp;&nbsp; 67075 | 5968980 |
| Revenio Group OYJ | &nbsp;&nbsp; 75576 | 2349697 |
| TietoEVRY OYJ | &nbsp;&nbsp; 371341 | 7530196 |
| TietoEVRY OYJ, New | &nbsp;&nbsp; 7131 | 145563 |
| Tokmanni Group Corp. | &nbsp;&nbsp; 167636 | 2051906 |
| Valmet OYJ | &nbsp;&nbsp; 516320 | 14622512 |
| YIT OYJ<sup>(c)</sup> | &nbsp;&nbsp; 469677 | 1179218 |
|  |  | 118624150 |
| **France — 3.5%** | **France — 3.5%** | **France — 3.5%** |
| Abivax SA, NVS<sup>(b)</sup> | &nbsp;&nbsp; 66034 | 785703 |
| Air France-KLM, NVS<sup>(b)(c)</sup> | &nbsp;&nbsp; 419117 | 3726763 |
| Altarea SCA<sup>(c)</sup> | &nbsp;&nbsp; 17554 | 1897882 |
| Alten SA | &nbsp;&nbsp; 105293 | 11580323 |
| Antin Infrastructure Partners SA | &nbsp;&nbsp; 118197 | 1599928 |
| Aperam SA | &nbsp;&nbsp; 149237 | 4055292 |
| Aubay | &nbsp;&nbsp; 25852 | 1023399 |
| Beneteau SACA<sup>(c)</sup> | &nbsp;&nbsp; 137175 | 1337348 |
| Carmila SA | &nbsp;&nbsp; 213215 | 3851044 |
| Casino Guichard Perrachon SA, NVS<sup>(b)</sup> | &nbsp;&nbsp; 354126 | 1341385 |
| Cie. des Alpes | &nbsp;&nbsp; 77068 | 1103511 |
| Coface SA | &nbsp;&nbsp; 371251 | 5620572 |
| Derichebourg SA<sup>(c)</sup> | &nbsp;&nbsp; 336888 | 1734833 |
| Elior Group SA<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 401063 | 1391912 |
| Elis SA | &nbsp;&nbsp; 617621 | 14282693 |
| Equasens | &nbsp;&nbsp; 18239 | 949604 |
| Eramet SA | &nbsp;&nbsp; 29534 | 2508590 |
| Esker SA | &nbsp;&nbsp; 19022 | 4177040 |
| Esso SA Francaise | &nbsp;&nbsp; 8909 | 1401603 |
| Etablissements Maurel et Prom SA | &nbsp;&nbsp; 201063 | 1227782 |
| Eutelsat Communications SACA<sup>(b)(c)</sup> | &nbsp;&nbsp; 450819 | 2329940 |
| Exclusive Networks SA<sup>(b)</sup> | &nbsp;&nbsp; 48051 | 1209074 |
| Fnac Darty SA | &nbsp;&nbsp; 39076 | 1159796 |
| Forvia SE | &nbsp;&nbsp; 545595 | 6390521 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Gaztransport Et Technigaz SA | &nbsp;&nbsp; 124348 | $18322063 |
| GL Events SACA | &nbsp;&nbsp; 15864 | 325240 |
| ICADE | &nbsp;&nbsp; 124340 | 2763572 |
| ID Logistics Group SACA<sup>(b)</sup> | &nbsp;&nbsp; 9941 | 4807119 |
| Imerys SA | &nbsp;&nbsp; 118609 | 4029963 |
| Interparfums SA | &nbsp;&nbsp; 79692 | 4049765 |
| IPSOS SA | &nbsp;&nbsp; 135340 | 8352802 |
| JCDecaux SE<sup>(b)</sup> | &nbsp;&nbsp; 223342 | 4656125 |
| Kaufman & Broad SA | &nbsp;&nbsp; 44313 | 1515444 |
| LISI SA | &nbsp;&nbsp; 64076 | 1764151 |
| Manitou BF SA | &nbsp;&nbsp; 41425 | 958165 |
| Mercialys SA | &nbsp;&nbsp; 331744 | 4203516 |
| Mersen SA | &nbsp;&nbsp; 78242 | 2712064 |
| Metropole Television SA<sup>(c)</sup> | &nbsp;&nbsp; 84490 | 1102851 |
| Neoen SA<sup>(d)</sup> | &nbsp;&nbsp; 240130 | 10012936 |
| Nexans SA | &nbsp;&nbsp; 107982 | 13956260 |
| Nexity SA<sup>(b)(c)</sup> | &nbsp;&nbsp; 131470 | 1481769 |
| Opmobility | &nbsp;&nbsp; 211273 | 2214973 |
| Orpea SA, NVS<sup>(b)</sup> | &nbsp;&nbsp; 249100 | 2790780 |
| OVH Groupe SAS, NVS<sup>(b)(c)</sup> | &nbsp;&nbsp; 133279 | 859798 |
| Peugeot Invest SA | &nbsp;&nbsp; 17662 | 1599147 |
| Pierre & Vacances SA, NVS<sup>(b)(c)</sup> | &nbsp;&nbsp; 496664 | 737193 |
| Pluxee NV, NVS<sup>(b)</sup> | &nbsp;&nbsp; 312564 | 7326453 |
| Quadient SA | &nbsp;&nbsp; 113565 | 2252776 |
| Rubis SCA | &nbsp;&nbsp; 275506 | 8628689 |
| SCOR SE | &nbsp;&nbsp; 532084 | 11387811 |
| Seche Environnement SACA, NVS | &nbsp;&nbsp; 7927 | 865103 |
| SES SA, Class A | &nbsp;&nbsp; 1302214 | 7041378 |
| Societe BIC SA | &nbsp;&nbsp; 83147 | 5216778 |
| SOITEC<sup>(b)(c)</sup> | &nbsp;&nbsp; 87074 | 11226573 |
| Sopra Steria Group SACA | &nbsp;&nbsp; 54070 | 10022150 |
| SPIE SA | &nbsp;&nbsp; 497449 | 19228837 |
| Technip Energies NV | &nbsp;&nbsp; 544225 | 13864937 |
| Television Francaise 1 SA | &nbsp;&nbsp; 141411 | 1244303 |
| Trigano SA | &nbsp;&nbsp; 30742 | 3604600 |
| Ubisoft Entertainment SA<sup>(b)(c)</sup> | &nbsp;&nbsp; 332578 | 6832289 |
| Valeo SE | &nbsp;&nbsp; 757091 | 8651399 |
| Vallourec SACA<sup>(b)(c)</sup> | &nbsp;&nbsp; 566671 | 9162289 |
| Valneva SE<sup>(b)(c)</sup> | &nbsp;&nbsp; 365353 | 1302032 |
| Verallia SA<sup>(d)</sup> | &nbsp;&nbsp; 252832 | 7437150 |
| Vicat SACA | &nbsp;&nbsp; 59624 | 2073472 |
| Virbac SACA | &nbsp;&nbsp; 14954 | 5692591 |
| Voltalia SA<sup>(b)(c)</sup> | &nbsp;&nbsp; 140845 | 1565621 |
| VusionGroup<sup>(c)</sup> | &nbsp;&nbsp; 25755 | 3753621 |
| Wavestone | &nbsp;&nbsp; 26388 | 1532970 |
| Wendel SE | &nbsp;&nbsp; 93810 | 8988081 |
| Worldline SA/France<sup>(b)(d)</sup> | &nbsp;&nbsp; 737329 | 8366379 |
| X-Fab Silicon Foundries SE<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 208599 | 1334500 |
|  |  | 338505016 |
| **Germany — 3.6%** | **Germany — 3.6%** | **Germany — 3.6%** |
| 1&1 AG | &nbsp;&nbsp; 125832 | 2025585 |
| About You Holding SE<sup>(b)</sup> | &nbsp;&nbsp; 156871 | 592700 |
| Adesso SE<sup>(c)</sup> | &nbsp;&nbsp; 11386 | 1125742 |
| Adtran Networks SE | &nbsp;&nbsp; 65819 | 1369091 |
| AIXTRON SE<sup>(c)</sup> | &nbsp;&nbsp; 397455 | 9280396 |
| Amadeus Fire AG | &nbsp;&nbsp; 19147 | 1967468 |
| Aroundtown SA<sup>(b)</sup> | &nbsp;&nbsp; 2673721 | 5704062 |
| Atoss Software SE | &nbsp;&nbsp; 27732 | 4088130 |
| Aurubis AG | &nbsp;&nbsp; 109659 | 8551782 |
| Auto1 Group SE<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 369389 | 3110148 |
| BayWa AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 53065 | 745221 |
| Befesa SA<sup>(d)</sup> | &nbsp;&nbsp; 124313 | 3859487 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Bilfinger SE | &nbsp;&nbsp; 96672 | $5419940 |
| Borussia Dortmund GmbH & Co. KGaA<sup>(b)</sup> | &nbsp;&nbsp; 260622 | 1028137 |
| CANCOM SE | &nbsp;&nbsp; 115026 | 4080805 |
| Ceconomy AG<sup>(b)</sup> | &nbsp;&nbsp; 496699 | 1498139 |
| Cewe Stiftung & Co. KGaA | &nbsp;&nbsp; 17506 | 1874356 |
| CompuGroup Medical SE & Co. KgaA | &nbsp;&nbsp; 96102 | 1666709 |
| CureVac NV<sup>(b)</sup> | &nbsp;&nbsp; 347054 | 1247032 |
| Datagroup SE | &nbsp;&nbsp; 17274 | 783958 |
| Dermapharm Holding SE | &nbsp;&nbsp; 65929 | 2525526 |
| Deutsche Pfandbriefbank AG<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 462638 | 2610854 |
| Deutz AG | &nbsp;&nbsp; 422863 | 2435563 |
| Duerr AG | &nbsp;&nbsp; 182434 | 4012562 |
| Eckert & Ziegler SE | &nbsp;&nbsp; 50981 | 2385976 |
| Elmos Semiconductor SE<sup>(c)</sup> | &nbsp;&nbsp; 22706 | 1856004 |
| ElringKlinger AG | &nbsp;&nbsp; 103335 | 541278 |
| Encavis AG, NVS<sup>(b)(c)</sup> | &nbsp;&nbsp; 419498 | 7862436 |
| Energiekontor AG | &nbsp;&nbsp; 24506 | 1723857 |
| Evotec SE<sup>(b)</sup> | &nbsp;&nbsp; 502155 | 4731597 |
| Fielmann Group AG | &nbsp;&nbsp; 86794 | 3929590 |
| flatexDEGIRO AG | &nbsp;&nbsp; 270742 | 3823321 |
| Formycon AG<sup>(b)</sup> | &nbsp;&nbsp; 31071 | 1779113 |
| Fraport AG Frankfurt Airport Services Worldwide<sup>(b)</sup> | &nbsp;&nbsp; 129824 | 6592890 |
| Freenet AG | &nbsp;&nbsp; 418184 | 11572019 |
| Gerresheimer AG | &nbsp;&nbsp; 120895 | 12499007 |
| GFT Technologies SE | &nbsp;&nbsp; 60898 | 1563834 |
| Grand City Properties SA<sup>(b)</sup> | &nbsp;&nbsp; 247796 | 2921015 |
| Grenke AG | &nbsp;&nbsp; 99145 | 3061574 |
| Hamborner REIT AG | &nbsp;&nbsp; 264883 | 1863567 |
| Hamburger Hafen und Logistik AG, NVS | &nbsp;&nbsp; 99573 | 1670325 |
| HelloFresh SE<sup>(b)(c)</sup> | &nbsp;&nbsp; 576861 | 3603506 |
| Hensoldt AG | &nbsp;&nbsp; 223572 | 8272426 |
| Hornbach Holding AG & Co. KGaA | &nbsp;&nbsp; 30216 | 2476639 |
| Hugo Boss AG<sup>(c)</sup> | &nbsp;&nbsp; 196147 | 7794974 |
| Hypoport SE<sup>(b)(c)</sup> | &nbsp;&nbsp; 14346 | 4263677 |
| Ionos SE<sup>(b)</sup> | &nbsp;&nbsp; 73710 | 1947209 |
| Jenoptik AG | &nbsp;&nbsp; 177438 | 5059061 |
| JOST Werke SE<sup>(d)</sup> | &nbsp;&nbsp; 44891 | 2029142 |
| K+S AG, Registered<sup>(c)</sup> | &nbsp;&nbsp; 630188 | 8118495 |
| KION Group AG | &nbsp;&nbsp; 252296 | 9978265 |
| Kloeckner & Co. SE | &nbsp;&nbsp; 191441 | 1056176 |
| Knaus Tabbert AG | &nbsp;&nbsp; 15640 | 524600 |
| Kontron AG | &nbsp;&nbsp; 134885 | 2857835 |
| Krones AG | &nbsp;&nbsp; 49364 | 6678655 |
| Lanxess AG | &nbsp;&nbsp; 304421 | 7947397 |
| MBB SE | &nbsp;&nbsp; 8158 | 912154 |
| METRO AG<sup>(c)</sup> | &nbsp;&nbsp; 380917 | 1734577 |
| Mutares SE & Co. KGaA | &nbsp;&nbsp; 49266 | 1705208 |
| Nagarro SE<sup>(b)</sup> | &nbsp;&nbsp; 28843 | 2508225 |
| Nordex SE<sup>(b)</sup> | &nbsp;&nbsp; 418879 | 6350680 |
| Norma Group SE | &nbsp;&nbsp; 110652 | 2057359 |
| Northern Data AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 46094 | 1047543 |
| Patrizia SE | &nbsp;&nbsp; 146589 | 1154750 |
| Pfeiffer Vacuum Technology AG | &nbsp;&nbsp; 12651 | 2157416 |
| PNE AG<sup>(c)</sup> | &nbsp;&nbsp; 108149 | 1720550 |
| ProSiebenSat.1 Media SE<sup>(c)</sup> | &nbsp;&nbsp; 493859 | 3388040 |
| PVA TePla AG<sup>(b)</sup> | &nbsp;&nbsp; 74814 | 1168850 |
| Redcare Pharmacy NV<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 53033 | 7939222 |
| RENK Group AG<sup>(b)</sup> | &nbsp;&nbsp; 102076 | 2895464 |
| SAF-Holland SE | &nbsp;&nbsp; 159855 | 3270154 |
| Salzgitter AG | &nbsp;&nbsp; 81996 | 1470204 |
| Schott Pharma AG & Co. KGaA<sup>(c)</sup> | &nbsp;&nbsp; 131772 | 4541390 |
| Secunet Security Networks AG | &nbsp;&nbsp; 5607 | 741600 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| SGL Carbon SE<sup>(b)(c)</sup> | &nbsp;&nbsp; 214933 | $1443521 |
| Siltronic AG | &nbsp;&nbsp; 58143 | 4741814 |
| Sixt SE<sup>(c)</sup> | &nbsp;&nbsp; 47834 | 3337657 |
| SMA Solar Technology AG | &nbsp;&nbsp; 54630 | 1469283 |
| Stabilus SE | &nbsp;&nbsp; 85724 | 4194953 |
| Steico SE<sup>(c)</sup> | &nbsp;&nbsp; 19898 | 588347 |
| Stratec SE | &nbsp;&nbsp; 26405 | 1161647 |
| Stroeer SE & Co. KGaA | &nbsp;&nbsp; 115133 | 7784194 |
| Suedzucker AG | &nbsp;&nbsp; 210656 | 2776826 |
| SUESS MicroTec SE | &nbsp;&nbsp; 66518 | 4516993 |
| TAG Immobilien AG<sup>(b)</sup> | &nbsp;&nbsp; 616771 | 9292103 |
| Takkt AG<sup>(c)</sup> | &nbsp;&nbsp; 86783 | 1004954 |
| TeamViewer SE<sup>(b)(d)</sup> | &nbsp;&nbsp; 516611 | 6967497 |
| thyssenkrupp AG | &nbsp;&nbsp; 1723625 | 6599757 |
| Thyssenkrupp Nucera AG & Co. KGaa<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 88350 | 833897 |
| TUI AG<sup>(b)</sup> | &nbsp;&nbsp; 1614996 | 10414855 |
| United Internet AG, Registered<sup>(e)</sup> | &nbsp;&nbsp; 304067 | 6743963 |
| Verbio SE<sup>(c)</sup> | &nbsp;&nbsp; 70880 | 1332596 |
| Vib Vermoegen AG<sup>(b)</sup> | &nbsp;&nbsp; 29899 | 264043 |
| Vossloh AG | &nbsp;&nbsp; 38714 | 2058074 |
| Wacker Chemie AG | &nbsp;&nbsp; 63364 | 6333162 |
| Wacker Neuson SE | &nbsp;&nbsp; 80101 | 1246838 |
| Wuestenrot & Wuerttembergische AG | &nbsp;&nbsp; 94772 | 1280036 |
|  |  | 347739249 |
| **Hong Kong — 1.4%** | **Hong Kong — 1.4%** | **Hong Kong — 1.4%** |
| ASMPT Ltd. | &nbsp;&nbsp; 1079400 | 11285728 |
| Bank of East Asia Ltd. (The) | &nbsp;&nbsp; 3731600 | 4706614 |
| Brightoil Petroleum Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 12938512 | 17 |
| Cafe de Coral Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1140000 | 1174350 |
| CITIC Telecom International Holdings Ltd. | &nbsp;&nbsp; 5914000 | 1575908 |
| Citychamp Watch & Jewellery Group Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 5546000 | 695659 |
| C-Mer Eye Care Holdings Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 2424000 | 812267 |
| Cowell e Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 925000 | 2537173 |
| Dah Sing Banking Group Ltd. | &nbsp;&nbsp; 1693200 | 1340839 |
| Dah Sing Financial Holdings Ltd. | &nbsp;&nbsp; 664400 | 1738139 |
| E-Commodities Holdings Ltd. | &nbsp;&nbsp; 5090000 | 1029355 |
| ESR Group Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 5073400 | 7670135 |
| First Pacific Co. Ltd. | &nbsp;&nbsp; 7984000 | 3553524 |
| Fortune REIT | &nbsp;&nbsp; 5545000 | 2654922 |
| Guotai Junan International Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 10075000 | 862040 |
| Hang Lung Properties Ltd. | &nbsp;&nbsp; 6061000 | 4444490 |
| Health and Happiness H&H International <br> Holdings Ltd.<sup>(c)</sup><br>| &nbsp;&nbsp; 795500 | 874629 |
| HKBN Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 3305500 | 1047011 |
| Hutchison Telecommunications Hong Kong <br> Holdings Ltd.<sup>(c)</sup><br>| &nbsp;&nbsp; 7506000 | 970332 |
| Hysan Development Co. Ltd. | &nbsp;&nbsp; 2250000 | 3081354 |
| IGG Inc.<sup>(b)</sup> | &nbsp;&nbsp; 2722000 | 985424 |
| Johnson Electric Holdings Ltd. | &nbsp;&nbsp; 1310750 | 1812236 |
| JS Global Lifestyle Co. Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 5096500 | 1018687 |
| Kerry Logistics Network Ltd. | &nbsp;&nbsp; 1245888 | 1090751 |
| Kerry Properties Ltd. | &nbsp;&nbsp; 2060500 | 3510334 |
| Luk Fook Holdings International Ltd. | &nbsp;&nbsp; 1220000 | 2399486 |
| Man Wah Holdings Ltd. | &nbsp;&nbsp; 5510800 | 3250277 |
| Melco International Development Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 2268000 | 1331336 |
| Melco Resorts & Entertainment Ltd., ADR<sup>(b)(c)</sup> | &nbsp;&nbsp; 772075 | 4408548 |
| New World Development Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 4751000 | 4429096 |
| NWS Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 3417000 | 3060316 |
| Pacific Basin Shipping Ltd. | &nbsp;&nbsp; 18218000 | 5470085 |
| PAX Global Technology Ltd. | &nbsp;&nbsp; 2503000 | 1404414 |
| PCCW Ltd. | &nbsp;&nbsp; 14619000 | 7579589 |
| Realord Group Holdings Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 1534000 | 1050436 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| Shangri-La Asia Ltd. | &nbsp;&nbsp; 4398000 | $3083428 |
| SJM Holdings Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 8954000 | 2886135 |
| SmarTone Telecommunications Holdings Ltd. | &nbsp;&nbsp; 1278000 | 613206 |
| Stella International Holdings Ltd. | &nbsp;&nbsp; 1917500 | 3195486 |
| SUNeVision Holdings Ltd. | &nbsp;&nbsp; 2361000 | 830021 |
| Texhong International Group Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 995000 | 509417 |
| Theme International Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 18190000 | 1049054 |
| United Energy Group Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 27644000 | 1185322 |
| United Laboratories International Holdings Ltd. <br> (The)<sup>(c)</sup><br>| &nbsp;&nbsp; 3534000 | 4059762 |
| Vitasoy International Holdings Ltd. | &nbsp;&nbsp; 2922000 | 2096289 |
| Viva Goods Co. Ltd. | &nbsp;&nbsp; 13928000 | 1033460 |
| VSTECS Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 2514000 | 1382820 |
| VTech Holdings Ltd. | &nbsp;&nbsp; 569900 | 3749411 |
| Wynn Macau Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 5550000 | 4099758 |
| Xinyi Electric Storage Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1 |  |
| Xinyi Glass Holdings Ltd. | &nbsp;&nbsp; 5940000 | 6274769 |
| Yue Yuen Industrial Holdings Ltd. | &nbsp;&nbsp; 2838500 | 4633637 |
|  |  | 135537476 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| Cairn Homes PLC | &nbsp;&nbsp; 2244926 | 4591889 |
| Dalata Hotel Group PLC | &nbsp;&nbsp; 740469 | 3296539 |
| Glanbia PLC | &nbsp;&nbsp; 702669 | 14060969 |
| Glenveagh Properties PLC<sup>(b)(d)</sup> | &nbsp;&nbsp; 1977317 | 2944573 |
| Irish Residential Properties REIT PLC | &nbsp;&nbsp; 1515835 | 1509271 |
| Uniphar PLC<sup>(b)</sup> | &nbsp;&nbsp; 815642 | 2301809 |
|  |  | 28705050 |
| **Israel — 2.7%** | **Israel — 2.7%** | **Israel — 2.7%** |
| Africa Israel Residences Ltd. | &nbsp;&nbsp; 20593 | 1209642 |
| Airport City Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 244194 | 3374524 |
| Alony Hetz Properties & Investments Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 550677 | 3675680 |
| Amot Investments Ltd. | &nbsp;&nbsp; 847394 | 3434672 |
| Ashtrom Group Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 155804 | 1956171 |
| Aura Investments Ltd. | &nbsp;&nbsp; 520815 | 2058532 |
| Azorim-Investment Development & Construction <br> Co. Ltd.<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 303682 | 1374690 |
| Bezeq The Israeli Telecommunication Corp. Ltd. | &nbsp;&nbsp; 7287298 | 8260269 |
| Big Shopping Centers Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 51807 | 5059653 |
| Blue Square Real Estate Ltd. | &nbsp;&nbsp; 21963 | 1506992 |
| Camtek Ltd./Israel | &nbsp;&nbsp; 101897 | 10228672 |
| Cellcom Israel Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 428261 | 1617807 |
| Cellebrite DI Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 201361 | 2758646 |
| Clal Insurance Enterprises Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 219087 | 3337579 |
| Danel Adir Yeoshua Ltd. | &nbsp;&nbsp; 19972 | 1637154 |
| Danya Cebus Ltd. | &nbsp;&nbsp; 27096 | 594171 |
| Delek Automotive Systems Ltd. | &nbsp;&nbsp; 199771 | 1093945 |
| Delek Group Ltd. | &nbsp;&nbsp; 32945 | 3409748 |
| Delta Galil Ltd. | &nbsp;&nbsp; 41272 | 1833028 |
| Elco Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 31117 | 887186 |
| Electra Consumer Products 1970 Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 39192 | 756541 |
| Electra Ltd./Israel<sup>(c)</sup> | &nbsp;&nbsp; 7695 | 2820229 |
| Electra Real Estate Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 91300 | 885066 |
| Energix-Renewable Energies Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 986128 | 3375246 |
| Enlight Renewable Energy Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 417470 | 6396228 |
| Equital Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 89786 | 2589462 |
| Fattal Holdings 1998 Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 26261 | 2778169 |
| FIBI Holdings Ltd. | &nbsp;&nbsp; 60563 | 2481351 |
| First International Bank Of Israel Ltd. (The) | &nbsp;&nbsp; 192016 | 7741854 |
| Fiverr International Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 117222 | 3060666 |
| Formula Systems 1985 Ltd. | &nbsp;&nbsp; 34592 | 2695095 |
| Fox Wizel Ltd. | &nbsp;&nbsp; 30309 | 1988438 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Israel (continued)** | **Israel (continued)** | **Israel (continued)** |
| G City Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 305406 | $845837 |
| Gav-Yam Lands Corp. Ltd. | &nbsp;&nbsp; 0 | 2 |
| Harel Insurance Investments & Financial <br> Services Ltd.<br>| &nbsp;&nbsp; 370180 | 3325136 |
| Hilan Ltd. | &nbsp;&nbsp; 56386 | 3030978 |
| Inmode Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 276929 | 5017954 |
| Isracard Ltd. | &nbsp;&nbsp; 650728 | 2263061 |
| Israel Canada T.R Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 565744 | 1997707 |
| Israel Corp Ltd. | &nbsp;&nbsp; 12923 | 2713039 |
| Isras Holdings Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 11633 | 903004 |
| Isras Investment Co. Ltd. | &nbsp;&nbsp; 6046 | 1098774 |
| Ituran Location and Control Ltd. | &nbsp;&nbsp; 51272 | 1357170 |
| Kenon Holdings Ltd./Singapore | &nbsp;&nbsp; 74879 | 1900391 |
| Kornit Digital Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 166107 | 2599575 |
| Kvutzat Acro Ltd., NVS<sup>(c)</sup> | &nbsp;&nbsp; 68794 | 727719 |
| M Yochananof & Sons Ltd. | &nbsp;&nbsp; 17842 | 885138 |
| Magic Software Enterprises Ltd. | &nbsp;&nbsp; 94890 | 1006081 |
| Matrix IT Ltd. | &nbsp;&nbsp; 124980 | 2438678 |
| Maytronics Ltd. | &nbsp;&nbsp; 168070 | 691215 |
| Mega Or Holdings Ltd. | &nbsp;&nbsp; 83321 | 2087783 |
| Melisron Ltd. | &nbsp;&nbsp; 91781 | 6433455 |
| Menora Mivtachim Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 81461 | 2090180 |
| Migdal Insurance & Financial Holdings Ltd. | &nbsp;&nbsp; 1430528 | 1697648 |
| Mivne Real Estate KD Ltd. | &nbsp;&nbsp; 2168166 | 5000653 |
| Nano Dimension Ltd., ADR<sup>(b)(c)</sup> | &nbsp;&nbsp; 708187 | 1720894 |
| Naphtha Israel Petroleum Corp. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 24100 | 134193 |
| Nayax Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 28056 | 615221 |
| Next Vision Stabilized Systems Ltd., NVS<sup>(c)</sup> | &nbsp;&nbsp; 196871 | 2372097 |
| Nova Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 101646 | 20423911 |
| Oddity Tech Ltd., Class A, NVS<sup>(b)(c)</sup> | &nbsp;&nbsp; 110732 | 4478556 |
| Oil Refineries Ltd. | &nbsp;&nbsp; 9024226 | 2169970 |
| One Software Technologies Ltd. | &nbsp;&nbsp; 148446 | 1857687 |
| OPC Energy Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 390348 | 2784011 |
| OY Nofar Energy Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 53137 | 1177183 |
| Pagaya Technologies Ltd., Class A<sup>(b)</sup> | &nbsp;&nbsp; 129046 | 1920205 |
| Partner Communications Co. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 460444 | 1900044 |
| Paz Oil Co. Ltd. | &nbsp;&nbsp; 36146 | 3415426 |
| Perion Network Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 165027 | 1347113 |
| Phoenix Holdings Ltd. (The) | &nbsp;&nbsp; 620934 | 5999857 |
| Prashkovsky Investments and Construction Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 32077 | 680000 |
| Radware Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 126959 | 2876891 |
| Rami Levy Chain Stores Hashikma Marketing 2006 <br> Ltd.<br>| &nbsp;&nbsp; 30444 | 1685928 |
| Reit 1 Ltd. | &nbsp;&nbsp; 682502 | 2551849 |
| Retailors Ltd. | &nbsp;&nbsp; 65621 | 1014871 |
| Riskified Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 331862 | 2084093 |
| Sapiens International Corp. NV | &nbsp;&nbsp; 115951 | 4484888 |
| Sella Capital Real Estate Ltd. | &nbsp;&nbsp; 780644 | 1433638 |
| Shapir Engineering and Industry Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 509553 | 2833143 |
| Shikun & Binui Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 1180525 | 2679945 |
| Shufersal Ltd. | &nbsp;&nbsp; 792787 | 5368875 |
| SimilarWeb Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 98178 | 601831 |
| Strauss Group Ltd. | &nbsp;&nbsp; 200611 | 2924059 |
| Summit Real Estate Holdings Ltd. | &nbsp;&nbsp; 126202 | 1494440 |
| Tadiran Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 11466 | 573176 |
| Tel Aviv Stock Exchange Ltd. | &nbsp;&nbsp; 339790 | 2699369 |
| Tower Semiconductor Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 387165 | 15600841 |
| WalkMe Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 90311 | 1253517 |
| YH Dimri Construction & Development Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 25586 | 2029115 |
| ZIM Integrated Shipping Services Ltd. | &nbsp;&nbsp; 337237 | 6640197 |
|  |  | 260815318 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy — 3.2%** | **Italy — 3.2%** | **Italy — 3.2%** |
| A2A SpA | &nbsp;&nbsp; 5480349 | $11607764 |
| ACEA SpA | &nbsp;&nbsp; 144926 | 2514392 |
| Anima Holding SpA<sup>(d)</sup> | &nbsp;&nbsp; 638385 | 3356960 |
| Ariston Holding NV | &nbsp;&nbsp; 247534 | 1005328 |
| Arnoldo Mondadori Editore SpA | &nbsp;&nbsp; 453046 | 1282158 |
| Ascopiave SpA | &nbsp;&nbsp; 272720 | 733451 |
| Azimut Holding SpA | &nbsp;&nbsp; 375149 | 9399671 |
| Banca Generali SpA | &nbsp;&nbsp; 203255 | 8844945 |
| Banca IFIS SpA | &nbsp;&nbsp; 87513 | 2054409 |
| Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp; 3357517 | 18321493 |
| Banca Popolare di Sondrio SpA | &nbsp;&nbsp; 1314389 | 10017136 |
| BFF Bank SpA<sup>(d)</sup> | &nbsp;&nbsp; 630792 | 7130253 |
| Bio On SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 19879 |  |
| BPER Banca SpA | &nbsp;&nbsp; 3459601 | 20242235 |
| Brembo NV | &nbsp;&nbsp; 530744 | 5954039 |
| Brunello Cucinelli SpA | &nbsp;&nbsp; 118076 | 11029153 |
| Buzzi SpA | &nbsp;&nbsp; 334066 | 13096737 |
| Carel Industries SpA<sup>(d)</sup> | &nbsp;&nbsp; 172452 | 3185185 |
| Cembre SpA<sup>(c)</sup> | &nbsp;&nbsp; 7184 | 280285 |
| Cementir Holding NV | &nbsp;&nbsp; 172438 | 1944659 |
| CIR SpA-Compagnie Industriali<sup>(b)</sup> | &nbsp;&nbsp; 4100851 | 2612319 |
| Credito Emiliano SpA | &nbsp;&nbsp; 299286 | 3276183 |
| d'Amico International Shipping SA, NVS | &nbsp;&nbsp; 146648 | 1109401 |
| Danieli & C Officine Meccaniche SpA<sup>(c)</sup> | &nbsp;&nbsp; 32178 | 1253687 |
| De' Longhi SpA | &nbsp;&nbsp; 265733 | 8375984 |
| Digital Value SpA | &nbsp;&nbsp; 12805 | 762202 |
| El.En. SpA<sup>(c)</sup> | &nbsp;&nbsp; 159627 | 1677464 |
| Enav SpA<sup>(d)</sup> | &nbsp;&nbsp; 955706 | 4087758 |
| ERG SpA | &nbsp;&nbsp; 184169 | 4883356 |
| Ferretti SpA, NVS | &nbsp;&nbsp; 534277 | 1616128 |
| Fila SpA | &nbsp;&nbsp; 109891 | 1060851 |
| Fincantieri SpA<sup>(b)(c)</sup> | &nbsp;&nbsp; 338520 | 1885943 |
| GVS SpA<sup>(b)(d)</sup> | &nbsp;&nbsp; 239951 | 1658213 |
| Hera SpA | &nbsp;&nbsp; 2832458 | 10363950 |
| Industrie De Nora SpA<sup>(c)</sup> | &nbsp;&nbsp; 112133 | 1298903 |
| Intercos SpA, NVS | &nbsp;&nbsp; 154841 | 2765015 |
| Interpump Group SpA | &nbsp;&nbsp; 264464 | 11469348 |
| Iren SpA | &nbsp;&nbsp; 2085463 | 4243594 |
| Italgas SpA | &nbsp;&nbsp; 1750786 | 9361740 |
| Iveco Group NV | &nbsp;&nbsp; 612422 | 6289040 |
| Juventus Football Club SpA, NVS<sup>(b)(c)</sup> | &nbsp;&nbsp; 508071 | 1308666 |
| Lottomatica Group SpA<sup>(c)</sup> | &nbsp;&nbsp; 374439 | 4575121 |
| LU-VE SpA, NVS | &nbsp;&nbsp; 32607 | 905161 |
| Maire Tecnimont SpA | &nbsp;&nbsp; 518212 | 4111897 |
| MARR SpA | &nbsp;&nbsp; 115807 | 1442867 |
| MFE-MediaForEurope NV, NVS | &nbsp;&nbsp; 262637 | 1218816 |
| MFE-MediaForEurope NV, Class A<sup>(c)</sup> | &nbsp;&nbsp; 516691 | 1760239 |
| OVS SpA<sup>(d)</sup> | &nbsp;&nbsp; 654675 | 1851998 |
| Pharmanutra SpA<sup>(c)</sup> | &nbsp;&nbsp; 13940 | 714661 |
| Piaggio & C SpA | &nbsp;&nbsp; 564241 | 1554259 |
| Pirelli & C SpA<sup>(d)</sup> | &nbsp;&nbsp; 1026334 | 6425140 |
| RAI Way SpA<sup>(d)</sup> | &nbsp;&nbsp; 325134 | 1752344 |
| Reply SpA | &nbsp;&nbsp; 78471 | 11138625 |
| Safilo Group SpA<sup>(b)</sup> | &nbsp;&nbsp; 768847 | 868696 |
| Saipem SpA<sup>(b)</sup> | &nbsp;&nbsp; 4518484 | 10734263 |
| Salcef Group SpA | &nbsp;&nbsp; 74360 | 2056164 |
| Salvatore Ferragamo SpA<sup>(c)</sup> | &nbsp;&nbsp; 228113 | 1989106 |
| Sanlorenzo SpA/Ameglia | &nbsp;&nbsp; 46383 | 1888494 |
| Saras SpA | &nbsp;&nbsp; 1531497 | 2650322 |
| Seco SpA<sup>(b)(c)</sup> | &nbsp;&nbsp; 144107 | 403156 |
| Sesa SpA<sup>(c)</sup> | &nbsp;&nbsp; 27356 | 3006037 |
| SOL SpA | &nbsp;&nbsp; 123703 | 4625636 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| Spaxs SpA<sup>(c)</sup> | &nbsp;&nbsp; 199502 | $1022645 |
| Tamburi Investment Partners SpA | &nbsp;&nbsp; 325830 | 3285406 |
| Technogym SpA<sup>(d)</sup> | &nbsp;&nbsp; 473008 | 4638996 |
| Technoprobe SpA<sup>(b)</sup> | &nbsp;&nbsp; 530406 | 4826020 |
| Tinexta SpA | &nbsp;&nbsp; 71418 | 1170220 |
| Unipol Gruppo SpA | &nbsp;&nbsp; 1371712 | 14779317 |
| Webuild SpA | &nbsp;&nbsp; 1512175 | 3958655 |
| Wiit SpA | &nbsp;&nbsp; 35771 | 871046 |
| Zignago Vetro SpA<sup>(c)</sup> | &nbsp;&nbsp; 125216 | 1536845 |
|  |  | 315122150 |
| **Japan — 35.1%** | **Japan — 35.1%** | **Japan — 35.1%** |
| 77 Bank Ltd. (The) | &nbsp;&nbsp; 207100 | 6465490 |
| ABC-Mart Inc. | &nbsp;&nbsp; 340700 | 6715784 |
| Acom Co. Ltd. | &nbsp;&nbsp; 1640300 | 4723242 |
| Activia Properties Inc. | &nbsp;&nbsp; 2196 | 5195045 |
| Adastria Co. Ltd. | &nbsp;&nbsp; 98380 | 2189879 |
| ADEKA Corp. | &nbsp;&nbsp; 269200 | 5715073 |
| Advance Logistics Investment Corp. | &nbsp;&nbsp; 2039 | 1622725 |
| Advance Residence Investment Corp. | &nbsp;&nbsp; 4712 | 9885639 |
| Aeon Delight Co. Ltd. | &nbsp;&nbsp; 68500 | 1785208 |
| AEON Financial Service Co. Ltd. | &nbsp;&nbsp; 381200 | 3499491 |
| Aeon Hokkaido Corp. | &nbsp;&nbsp; 182600 | 1116151 |
| Aeon Mall Co. Ltd. | &nbsp;&nbsp; 309200 | 4239200 |
| AEON REIT Investment Corp. | &nbsp;&nbsp; 6027 | 5208037 |
| Ai Holdings Corp. | &nbsp;&nbsp; 119600 | 1999342 |
| Aica Kogyo Co. Ltd. | &nbsp;&nbsp; 185600 | 4295425 |
| Aichi Corp. | &nbsp;&nbsp; 124700 | 1051079 |
| Aichi Financial Group Inc., NVS | &nbsp;&nbsp; 133900 | 2416917 |
| Aida Engineering Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 158800 | 902568 |
| Aiful Corp. | &nbsp;&nbsp; 1117800 | 2897053 |
| Ain Holdings Inc. | &nbsp;&nbsp; 94800 | 3644707 |
| Air Water Inc. | &nbsp;&nbsp; 648800 | 9531563 |
| Aisan Industry Co. Ltd. | &nbsp;&nbsp; 70000 | 706798 |
| Alfresa Holdings Corp. | &nbsp;&nbsp; 608100 | 9499968 |
| Alpen Co. Ltd. | &nbsp;&nbsp; 62300 | 916371 |
| Alps Alpine Co. Ltd. | &nbsp;&nbsp; 648000 | 6867789 |
| Alps Logistics Co. Ltd. | &nbsp;&nbsp; 55900 | 2127653 |
| Amada Co. Ltd. | &nbsp;&nbsp; 1114500 | 13088604 |
| Amano Corp. | &nbsp;&nbsp; 188800 | 4786461 |
| Amvis Holdings Inc.<sup>(c)</sup> | &nbsp;&nbsp; 142000 | 2472263 |
| Anritsu Corp. | &nbsp;&nbsp; 476200 | 4087061 |
| Anycolor Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 86700 | 1471433 |
| AOKI Holdings Inc. | &nbsp;&nbsp; 136100 | 1243964 |
| Aoyama Trading Co. Ltd. | &nbsp;&nbsp; 150200 | 1537237 |
| Aozora Bank Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 377300 | 6272432 |
| Appier Group Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 237800 | 1971422 |
| Arata Corp. | &nbsp;&nbsp; 104500 | 2489234 |
| Arclands Corp. | &nbsp;&nbsp; 175662 | 2133700 |
| Arcs Co. Ltd. | &nbsp;&nbsp; 134800 | 2449168 |
| ARE Holdings Inc. | &nbsp;&nbsp; 252200 | 3450576 |
| Argo Graphics Inc. | &nbsp;&nbsp; 56600 | 1928817 |
| Ariake Japan Co. Ltd. | &nbsp;&nbsp; 62700 | 2237361 |
| Artience Co. Ltd. | &nbsp;&nbsp; 126600 | 2677098 |
| As One Corp. | &nbsp;&nbsp; 205200 | 4421171 |
| Asahi Intecc Co. Ltd. | &nbsp;&nbsp; 745100 | 11811861 |
| Asahi Yukizai Corp. | &nbsp;&nbsp; 44400 | 1421126 |
| ASKUL Corp. | &nbsp;&nbsp; 137100 | 1937600 |
| Atom Corp.<sup>(b)(c)</sup> | &nbsp;&nbsp; 397000 | 1974783 |
| Autobacs Seven Co. Ltd. | &nbsp;&nbsp; 217600 | 2405383 |
| Avex Inc. | &nbsp;&nbsp; 112800 | 1128953 |
| Awa Bank Ltd. (The) | &nbsp;&nbsp; 112200 | 2081301 |
| Axial Retailing Inc. | &nbsp;&nbsp; 179300 | 1228011 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Azbil Corp. | &nbsp;&nbsp; 398000 | $11565558 |
| AZ-COM MARUWA Holdings Inc. | &nbsp;&nbsp; 197800 | 1703377 |
| Bank of Nagoya Ltd. (The) | &nbsp;&nbsp; 37200 | 2013159 |
| Base Co. Ltd. | &nbsp;&nbsp; 27900 | 523670 |
| BayCurrent Consulting Inc. | &nbsp;&nbsp; 464600 | 14302531 |
| Belc Co. Ltd. | &nbsp;&nbsp; 37700 | 1580428 |
| Bell System24 Holdings Inc. | &nbsp;&nbsp; 112300 | 1160992 |
| Belluna Co. Ltd. | &nbsp;&nbsp; 204200 | 1061977 |
| Bengo4.com Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 32900 | 800058 |
| Bic Camera Inc. | &nbsp;&nbsp; 336700 | 3799716 |
| BIPROGY Inc. | &nbsp;&nbsp; 246100 | 8064338 |
| BML Inc. | &nbsp;&nbsp; 71200 | 1420415 |
| Bunka Shutter Co. Ltd. | &nbsp;&nbsp; 187400 | 2163688 |
| C Uyemura & Co. Ltd. | &nbsp;&nbsp; 37300 | 2676448 |
| C.I. Takiron Corp. | &nbsp;&nbsp; 177700 | 1011779 |
| Calbee Inc. | &nbsp;&nbsp; 280100 | 6429608 |
| Canon Electronics Inc. | &nbsp;&nbsp; 54500 | 832392 |
| Canon Marketing Japan Inc. | &nbsp;&nbsp; 159300 | 4932951 |
| Casio Computer Co. Ltd. | &nbsp;&nbsp; 674300 | 5427169 |
| Cawachi Ltd. | &nbsp;&nbsp; 53300 | 988430 |
| Central Automotive Products Ltd. | &nbsp;&nbsp; 28200 | 932239 |
| Central Glass Co. Ltd. | &nbsp;&nbsp; 69800 | 1750190 |
| Change Holdings Inc.<sup>(c)</sup> | &nbsp;&nbsp; 156500 | 1167951 |
| Chiyoda Corp.<sup>(b)(c)</sup> | &nbsp;&nbsp; 536800 | 1099652 |
| Chofu Seisakusho Co. Ltd. | &nbsp;&nbsp; 64600 | 924470 |
| Chudenko Corp. | &nbsp;&nbsp; 96000 | 2241012 |
| Chugin Financial Group Inc., NVS | &nbsp;&nbsp; 518500 | 5776270 |
| Chugoku Electric Power Co. Inc. (The) | &nbsp;&nbsp; 1021000 | 7425434 |
| Chugoku Marine Paints Ltd. | &nbsp;&nbsp; 139900 | 1935444 |
| Citizen Watch Co. Ltd. | &nbsp;&nbsp; 637800 | 4300661 |
| CKD Corp. | &nbsp;&nbsp; 183100 | 3656804 |
| Coca-Cola Bottlers Japan Holdings Inc. | &nbsp;&nbsp; 470700 | 7019417 |
| COLOPL Inc. | &nbsp;&nbsp; 212400 | 863261 |
| Colowide Co. Ltd. | &nbsp;&nbsp; 254900 | 3508862 |
| Comforia Residential REIT Inc. | &nbsp;&nbsp; 2421 | 5022541 |
| COMSYS Holdings Corp. | &nbsp;&nbsp; 400000 | 8611273 |
| Comture Corp. | &nbsp;&nbsp; 84400 | 1061006 |
| Cosmo Energy Holdings Co. Ltd. | &nbsp;&nbsp; 218900 | 11747617 |
| Cosmos Pharmaceutical Corp. | &nbsp;&nbsp; 69900 | 6284622 |
| Cover Corp.<sup>(b)(c)</sup> | &nbsp;&nbsp; 106500 | 1393524 |
| CRE Logistics REIT Inc. | &nbsp;&nbsp; 2208 | 2128599 |
| Create Restaurants Holdings Inc. | &nbsp;&nbsp; 410500 | 2930402 |
| Create SD Holdings Co. Ltd. | &nbsp;&nbsp; 85800 | 1925069 |
| Credit Saison Co. Ltd. | &nbsp;&nbsp; 519300 | 12036958 |
| Curves Holdings Co. Ltd. | &nbsp;&nbsp; 195000 | 1071037 |
| CyberAgent Inc. | &nbsp;&nbsp; 1471600 | 9514521 |
| Cybozu Inc. | &nbsp;&nbsp; 90400 | 1093388 |
| Daicel Corp. | &nbsp;&nbsp; 806900 | 7843708 |
| Dai-Dan Co. Ltd. | &nbsp;&nbsp; 115900 | 2375427 |
| Daido Steel Co. Ltd. | &nbsp;&nbsp; 432400 | 4326382 |
| Daiei Kankyo Co. Ltd. | &nbsp;&nbsp; 140500 | 2687307 |
| Daihen Corp. | &nbsp;&nbsp; 63400 | 3111263 |
| Daiichikosho Co. Ltd. | &nbsp;&nbsp; 260800 | 3147827 |
| Daiki Aluminium Industry Co. Ltd. | &nbsp;&nbsp; 97000 | 804454 |
| Daikokutenbussan Co. Ltd. | &nbsp;&nbsp; 17900 | 1272902 |
| Daio Paper Corp. | &nbsp;&nbsp; 296400 | 1769039 |
| Daiseki Co. Ltd. | &nbsp;&nbsp; 150360 | 3599359 |
| Daishi Hokuetsu Financial Group Inc. | &nbsp;&nbsp; 122100 | 4865150 |
| Daiwa House REIT Investment Corp. | &nbsp;&nbsp; 8150 | 13115917 |
| Daiwa Industries Ltd. | &nbsp;&nbsp; 112900 | 1188761 |
| Daiwa Office Investment Corp.<sup>(c)</sup> | &nbsp;&nbsp; 1963 | 3845453 |
| Daiwa Securities Living Investments Corp. | &nbsp;&nbsp; 7113 | 4838388 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Daiwabo Holdings Co. Ltd. | &nbsp;&nbsp; 286700 | $5402483 |
| DCM Holdings Co. Ltd. | &nbsp;&nbsp; 383500 | 3701757 |
| DeNA Co. Ltd. | &nbsp;&nbsp; 259100 | 2678471 |
| Denka Co. Ltd. | &nbsp;&nbsp; 279000 | 4065866 |
| Dentsu Soken Inc. | &nbsp;&nbsp; 91100 | 3463197 |
| Descente Ltd. | &nbsp;&nbsp; 120200 | 3174055 |
| Dexerials Corp. | &nbsp;&nbsp; 190600 | 9150454 |
| DIC Corp. | &nbsp;&nbsp; 266500 | 5482267 |
| Digital Arts Inc. | &nbsp;&nbsp; 37300 | 1184174 |
| Digital Garage Inc. | &nbsp;&nbsp; 100900 | 1876661 |
| Dip Corp. | &nbsp;&nbsp; 127100 | 2613079 |
| DMG Mori Co. Ltd. | &nbsp;&nbsp; 421300 | 10719774 |
| Doshisha Co. Ltd. | &nbsp;&nbsp; 93000 | 1420053 |
| Doutor Nichires Holdings Co. Ltd. | &nbsp;&nbsp; 98000 | 1520903 |
| Dowa Holdings Co. Ltd. | &nbsp;&nbsp; 182500 | 6697781 |
| DTS Corp. | &nbsp;&nbsp; 142300 | 4113728 |
| Duskin Co. Ltd. | &nbsp;&nbsp; 136400 | 3586234 |
| DyDo Group Holdings Inc. | &nbsp;&nbsp; 68300 | 1235843 |
| Eagle Industry Co. Ltd. | &nbsp;&nbsp; 60000 | 844629 |
| Earth Corp. | &nbsp;&nbsp; 48700 | 1632286 |
| Ebara Corp. | &nbsp;&nbsp; 1611400 | 23076074 |
| EDION Corp. | &nbsp;&nbsp; 231700 | 2699593 |
| eGuarantee Inc. | &nbsp;&nbsp; 122000 | 1194353 |
| Eiken Chemical Co. Ltd. | &nbsp;&nbsp; 118900 | 1925549 |
| Eizo Corp. | &nbsp;&nbsp; 45000 | 1456238 |
| Elecom Co. Ltd. | &nbsp;&nbsp; 160700 | 1762068 |
| Electric Power Development Co. Ltd. | &nbsp;&nbsp; 506300 | 8369554 |
| en Japan Inc. | &nbsp;&nbsp; 112800 | 2111712 |
| Enplas Corp.<sup>(c)</sup> | &nbsp;&nbsp; 20100 | 1018762 |
| ES-Con Japan Ltd. | &nbsp;&nbsp; 131000 | 904438 |
| Euglena Co. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 356800 | 1313320 |
| Exedy Corp. | &nbsp;&nbsp; 131800 | 2798462 |
| EXEO Group Inc. | &nbsp;&nbsp; 639400 | 6974253 |
| Ezaki Glico Co. Ltd. | &nbsp;&nbsp; 167100 | 5132281 |
| Fancl Corp. | &nbsp;&nbsp; 298800 | 5787009 |
| FCC Co. Ltd. | &nbsp;&nbsp; 125300 | 1954736 |
| Ferrotec Holdings Corp. | &nbsp;&nbsp; 157800 | 2616625 |
| Financial Products Group Co. Ltd. | &nbsp;&nbsp; 221900 | 3853913 |
| Food & Life Companies Ltd. | &nbsp;&nbsp; 382100 | 6695949 |
| FP Corp. | &nbsp;&nbsp; 167400 | 2887440 |
| FP Partner Inc.<sup>(c)</sup> | &nbsp;&nbsp; 31300 | 646836 |
| Freee KK<sup>(b)</sup> | &nbsp;&nbsp; 155700 | 2551007 |
| Frontier Real Estate Investment Corp. | &nbsp;&nbsp; 1726 | 5003516 |
| Fuji Co. Ltd./Ehime | &nbsp;&nbsp; 112500 | 1479801 |
| Fuji Corp./Aichi | &nbsp;&nbsp; 266700 | 4459987 |
| Fuji Kyuko Co. Ltd. | &nbsp;&nbsp; 78500 | 1601984 |
| Fuji Media Holdings Inc. | &nbsp;&nbsp; 164600 | 2063191 |
| Fuji Oil Holdings Inc. | &nbsp;&nbsp; 154600 | 3227970 |
| Fuji Seal International Inc. | &nbsp;&nbsp; 136800 | 2186974 |
| Fuji Soft Inc. | &nbsp;&nbsp; 189800 | 9093371 |
| Fujicco Co. Ltd. | &nbsp;&nbsp; 37700 | 466548 |
| Fujikura Ltd. | &nbsp;&nbsp; 879700 | 17623573 |
| Fujimi Inc. | &nbsp;&nbsp; 187500 | 3937915 |
| Fujimori Kogyo Co. Ltd. | &nbsp;&nbsp; 37300 | 1121804 |
| Fujio Food Group Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 79600 | 744765 |
| Fujitec Co. Ltd. | &nbsp;&nbsp; 204900 | 5926780 |
| Fujitsu General Ltd. | &nbsp;&nbsp; 214800 | 2818182 |
| Fujiya Co. Ltd. | &nbsp;&nbsp; 37900 | 686353 |
| Fukuda Denshi Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 55900 | 2518244 |
| Fukuoka Financial Group Inc. | &nbsp;&nbsp; 601300 | 16865777 |
| Fukuoka REIT Corp. | &nbsp;&nbsp; 2215 | 2318961 |
| Fukushima Galilei Co. Ltd. | &nbsp;&nbsp; 40200 | 1807516 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Fukuyama Transporting Co. Ltd. | &nbsp;&nbsp; 73400 | $1979901 |
| Funai Soken Holdings Inc. | &nbsp;&nbsp; 129560 | 1890534 |
| Furukawa Co. Ltd. | &nbsp;&nbsp; 86600 | 1057760 |
| Furukawa Electric Co. Ltd. | &nbsp;&nbsp; 232800 | 6368652 |
| Furuya Metal Co. Ltd. | &nbsp;&nbsp; 50100 | 1524067 |
| Fuso Chemical Co. Ltd. | &nbsp;&nbsp; 66500 | 1721202 |
| Future Corp. | &nbsp;&nbsp; 151300 | 1732270 |
| Fuyo General Lease Co. Ltd. | &nbsp;&nbsp; 57400 | 4691486 |
| G-7 Holdings Inc. | &nbsp;&nbsp; 77400 | 872031 |
| Genky DrugStores Co. Ltd. | &nbsp;&nbsp; 59400 | 1370922 |
| Geo Holdings Corp. | &nbsp;&nbsp; 86900 | 954202 |
| Global One Real Estate Investment Corp. | &nbsp;&nbsp; 3374 | 2280150 |
| Glory Ltd. | &nbsp;&nbsp; 146100 | 2655979 |
| GLP J-REIT | &nbsp;&nbsp; 16441 | 14403686 |
| GMO Financial Gate Inc. | &nbsp;&nbsp; 17500 | 774429 |
| GMO Financial Holdings Inc. | &nbsp;&nbsp; 181500 | 776239 |
| GMO internet group Inc. | &nbsp;&nbsp; 233000 | 3860449 |
| GMO Payment Gateway Inc. | &nbsp;&nbsp; 145900 | 8363613 |
| GNI Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 177797 | 2721445 |
| Godo Steel Ltd. | &nbsp;&nbsp; 27200 | 884233 |
| Goldcrest Co. Ltd. | &nbsp;&nbsp; 60600 | 1158247 |
| Goldwin Inc. | &nbsp;&nbsp; 75700 | 4662204 |
| Gree Inc. | &nbsp;&nbsp; 238700 | 843955 |
| GS Yuasa Corp. | &nbsp;&nbsp; 283900 | 5051509 |
| G-Tekt Corp. | &nbsp;&nbsp; 73600 | 892662 |
| GungHo Online Entertainment Inc. | &nbsp;&nbsp; 145330 | 2841350 |
| Gunma Bank Ltd. (The) | &nbsp;&nbsp; 1183400 | 8028272 |
| Gunze Ltd. | &nbsp;&nbsp; 48200 | 1789748 |
| H.U. Group Holdings Inc. | &nbsp;&nbsp; 194000 | 3414109 |
| H2O Retailing Corp. | &nbsp;&nbsp; 324500 | 5644555 |
| Hachijuni Bank Ltd. (The) | &nbsp;&nbsp; 1261600 | 8992171 |
| Hakuhodo DY Holdings Inc. | &nbsp;&nbsp; 759000 | 6198247 |
| Hakuto Co. Ltd. | &nbsp;&nbsp; 37700 | 1262574 |
| Halows Co. Ltd. | &nbsp;&nbsp; 28500 | 868588 |
| Hamakyorex Co. Ltd. | &nbsp;&nbsp; 49300 | 1563157 |
| Hankyu Hanshin REIT Inc. | &nbsp;&nbsp; 2089 | 1855343 |
| Hanwa Co. Ltd. | &nbsp;&nbsp; 111400 | 4305889 |
| Harmonic Drive Systems Inc. | &nbsp;&nbsp; 187100 | 5141869 |
| Haseko Corp. | &nbsp;&nbsp; 813500 | 10152042 |
| Hazama Ando Corp. | &nbsp;&nbsp; 489400 | 3954889 |
| Heiwa Corp. | &nbsp;&nbsp; 187300 | 2687093 |
| Heiwa Real Estate Co. Ltd. | &nbsp;&nbsp; 103300 | 2969187 |
| Heiwa Real Estate REIT Inc. | &nbsp;&nbsp; 3408 | 2984783 |
| Heiwado Co. Ltd. | &nbsp;&nbsp; 101900 | 1668447 |
| Hiday Hidaka Corp. | &nbsp;&nbsp; 90800 | 1680774 |
| Hino Motors Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1004400 | 3244839 |
| Hioki EE Corp | &nbsp;&nbsp; 33600 | 1801653 |
| Hirata Corp. | &nbsp;&nbsp; 31100 | 1287307 |
| Hirogin Holdings Inc. | &nbsp;&nbsp; 887600 | 7204796 |
| Hirose Electric Co. Ltd. | &nbsp;&nbsp; 101700 | 12733224 |
| HIS Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 195100 | 2250512 |
| Hisamitsu Pharmaceutical Co. Inc. | &nbsp;&nbsp; 180100 | 4960640 |
| Hitachi Zosen Corp. | &nbsp;&nbsp; 562500 | 4083709 |
| Hogy Medical Co. Ltd. | &nbsp;&nbsp; 78700 | 2164977 |
| Hokkaido Electric Power Co. Inc. | &nbsp;&nbsp; 613000 | 4168322 |
| Hokkoku Financial Holdings Inc. | &nbsp;&nbsp; 67700 | 2549094 |
| Hokuetsu Corp.<sup>(c)</sup> | &nbsp;&nbsp; 335500 | 2597162 |
| Hokuhoku Financial Group Inc. | &nbsp;&nbsp; 380200 | 5316928 |
| Hokuriku Electric Power Co. | &nbsp;&nbsp; 578600 | 3708521 |
| Hokuto Corp. | &nbsp;&nbsp; 91100 | 1163273 |
| Horiba Ltd. | &nbsp;&nbsp; 119500 | 9457854 |
| Hoshino Resorts REIT Inc. | &nbsp;&nbsp; 995 | 3442210 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Hosiden Corp. | &nbsp;&nbsp; 134200 | $1830842 |
| House Foods Group Inc. | &nbsp;&nbsp; 200400 | 3953379 |
| Hulic REIT Inc. | &nbsp;&nbsp; 4508 | 4290947 |
| Hyakugo Bank Ltd. (The) | &nbsp;&nbsp; 723600 | 3239825 |
| Ichibanya Co. Ltd. | &nbsp;&nbsp; 246400 | 1753271 |
| Ichigo Inc. | &nbsp;&nbsp; 871400 | 2456681 |
| Ichigo Office REIT Investment Corp. | &nbsp;&nbsp; 3522 | 1966783 |
| Idec Corp./Japan | &nbsp;&nbsp; 104000 | 2142690 |
| IDOM Inc. | &nbsp;&nbsp; 231000 | 1754105 |
| IHI Corp. | &nbsp;&nbsp; 484300 | 17667565 |
| Iida Group Holdings Co. Ltd. | &nbsp;&nbsp; 522000 | 7846522 |
| Iino Kaiun Kaisha Ltd. | &nbsp;&nbsp; 251900 | 2128738 |
| I'll Inc. | &nbsp;&nbsp; 33800 | 604672 |
| Inaba Denki Sangyo Co. Ltd. | &nbsp;&nbsp; 179100 | 4695757 |
| Inabata & Co. Ltd. | &nbsp;&nbsp; 159100 | 3563079 |
| Industrial & Infrastructure Fund Investment Corp. | &nbsp;&nbsp; 8458 | 6980104 |
| Infomart Corp. | &nbsp;&nbsp; 696400 | 1491317 |
| Infroneer Holdings Inc. | &nbsp;&nbsp; 683828 | 5929859 |
| Insource Co. Ltd. | &nbsp;&nbsp; 159900 | 937653 |
| Institute for Q-Shu Pioneers of Space Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 32000 | 338422 |
| Internet Initiative Japan Inc. | &nbsp;&nbsp; 389700 | 6590429 |
| Invincible Investment Corp. | &nbsp;&nbsp; 26449 | 11980072 |
| Iriso Electronics Co. Ltd. | &nbsp;&nbsp; 68700 | 1380812 |
| Ise Chemicals Corp.<sup>(c)</sup> | &nbsp;&nbsp; 6100 | 836530 |
| Isetan Mitsukoshi Holdings Ltd. | &nbsp;&nbsp; 1180000 | 23476456 |
| Ispace Inc./Japan, NVS<sup>(b)</sup> | &nbsp;&nbsp; 174400 | 705646 |
| Ito En Ltd. | &nbsp;&nbsp; 185900 | 4407279 |
| Itochu Enex Co. Ltd. | &nbsp;&nbsp; 210800 | 2406264 |
| Itochu-Shokuhin Co. Ltd. | &nbsp;&nbsp; 23200 | 1073037 |
| Itoham Yonekyu Holdings Inc. | &nbsp;&nbsp; 93640 | 2764032 |
| Itoki Corp. | &nbsp;&nbsp; 120500 | 1218740 |
| Iwatani Corp. | &nbsp;&nbsp; 152900 | 9703203 |
| Iyogin Holdings Inc., NVS | &nbsp;&nbsp; 809900 | 8137223 |
| Izumi Co. Ltd. | &nbsp;&nbsp; 112300 | 2675707 |
| J Front Retailing Co. Ltd. | &nbsp;&nbsp; 841100 | 10188480 |
| J Trust Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 265000 | 727691 |
| JAC Recruitment Co. Ltd. | &nbsp;&nbsp; 260600 | 1256753 |
| Jaccs Co. Ltd. | &nbsp;&nbsp; 73200 | 2376525 |
| JAFCO Group Co. Ltd. | &nbsp;&nbsp; 185200 | 2344175 |
| Japan Airport Terminal Co. Ltd. | &nbsp;&nbsp; 228700 | 8348526 |
| Japan Aviation Electronics Industry Ltd. | &nbsp;&nbsp; 156200 | 2617660 |
| Japan Elevator Service Holdings Co. Ltd. | &nbsp;&nbsp; 242300 | 4471243 |
| Japan Excellent Inc. | &nbsp;&nbsp; 4138 | 3291721 |
| Japan Hotel REIT Investment Corp. | &nbsp;&nbsp; 16419 | 8387159 |
| Japan Lifeline Co. Ltd. | &nbsp;&nbsp; 194400 | 1505549 |
| Japan Logistics Fund Inc. | &nbsp;&nbsp; 3156 | 5399251 |
| Japan Material Co. Ltd. | &nbsp;&nbsp; 222300 | 2949345 |
| Japan Metropolitan Fund Invest | &nbsp;&nbsp; 24487 | 15289634 |
| Japan Petroleum Exploration Co. Ltd. | &nbsp;&nbsp; 116000 | 4782990 |
| Japan Prime Realty Investment Corp. | &nbsp;&nbsp; 2999 | 6525058 |
| Japan Pulp & Paper Co. Ltd. | &nbsp;&nbsp; 37700 | 1663968 |
| Japan Securities Finance Co. Ltd. | &nbsp;&nbsp; 287900 | 3280769 |
| Japan Steel Works Ltd. (The) | &nbsp;&nbsp; 223000 | 6341068 |
| Japan Wool Textile Co. Ltd. (The) | &nbsp;&nbsp; 166100 | 1474699 |
| JCR Pharmaceuticals Co. Ltd. | &nbsp;&nbsp; 262400 | 1023842 |
| JCU Corp. | &nbsp;&nbsp; 64000 | 1596082 |
| Jeol Ltd. | &nbsp;&nbsp; 153300 | 6172214 |
| JGC Holdings Corp. | &nbsp;&nbsp; 783700 | 6655728 |
| JINS Holdings Inc. | &nbsp;&nbsp; 42100 | 1292293 |
| JMDC Inc.<sup>(c)</sup> | &nbsp;&nbsp; 78400 | 1740046 |
| J-Oil Mills Inc. | &nbsp;&nbsp; 51000 | 711410 |
| Joshin Denki Co. Ltd. | &nbsp;&nbsp; 67100 | 1261995 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Joyful Honda Co. Ltd. | &nbsp;&nbsp; 180000 | $2620248 |
| JTEKT Corp. | &nbsp;&nbsp; 730000 | 5247376 |
| JTOWER Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 46500 | 506856 |
| Juroku Financial Group Inc. | &nbsp;&nbsp; 105800 | 3395098 |
| Justsystems Corp. | &nbsp;&nbsp; 112400 | 2377969 |
| JVCKenwood Corp. | &nbsp;&nbsp; 515400 | 3157758 |
| K&O Energy Group Inc.<sup>(c)</sup> | &nbsp;&nbsp; 44800 | 1019181 |
| Kadokawa Corp. | &nbsp;&nbsp; 293234 | 5422707 |
| Kaga Electronics Co. Ltd. | &nbsp;&nbsp; 69100 | 2507049 |
| Kagome Co. Ltd. | &nbsp;&nbsp; 264200 | 6171075 |
| Kakaku.com Inc. | &nbsp;&nbsp; 448200 | 6265606 |
| Kaken Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 109600 | 2982896 |
| Kameda Seika Co. Ltd. | &nbsp;&nbsp; 41600 | 1213750 |
| Kamigumi Co. Ltd. | &nbsp;&nbsp; 298600 | 6809817 |
| Kanamoto Co. Ltd. | &nbsp;&nbsp; 104100 | 1945218 |
| Kandenko Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 393600 | 5316070 |
| Kaneka Corp. | &nbsp;&nbsp; 146200 | 4133643 |
| Kanematsu Corp. | &nbsp;&nbsp; 265300 | 4493417 |
| Kansai Paint Co. Ltd. | &nbsp;&nbsp; 583600 | 9584692 |
| Kappa Create Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 107100 | 1348123 |
| Kasumigaseki Capital Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 22300 | 1926426 |
| Katakura Industries Co. Ltd. | &nbsp;&nbsp; 54400 | 758626 |
| Katitas Co. Ltd. | &nbsp;&nbsp; 187100 | 2345391 |
| Kato Sangyo Co. Ltd. | &nbsp;&nbsp; 82700 | 2354556 |
| Kawasaki Heavy Industries Ltd. | &nbsp;&nbsp; 527400 | 19351159 |
| KDX Realty Investment Corp. | &nbsp;&nbsp; 14350 | 14794495 |
| KeePer Technical Laboratory Co. Ltd. | &nbsp;&nbsp; 46200 | 1118330 |
| Keihan Holdings Co. Ltd. | &nbsp;&nbsp; 326200 | 6649249 |
| Keihanshin Building Co. Ltd. | &nbsp;&nbsp; 101600 | 1107889 |
| Keikyu Corp. | &nbsp;&nbsp; 744700 | 5888126 |
| Keio Corp. | &nbsp;&nbsp; 359200 | 8993978 |
| Keiyo Bank Ltd. (The) | &nbsp;&nbsp; 334300 | 1881295 |
| Kewpie Corp. | &nbsp;&nbsp; 349800 | 8985217 |
| KH Neochem Co. Ltd. | &nbsp;&nbsp; 112900 | 1683961 |
| Kinden Corp. | &nbsp;&nbsp; 429000 | 9051071 |
| Kisoji Co. Ltd. | &nbsp;&nbsp; 103900 | 1833010 |
| Kissei Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 104200 | 2422876 |
| Ki-Star Real Estate Co. Ltd. | &nbsp;&nbsp; 37400 | 864465 |
| Kitz Corp. | &nbsp;&nbsp; 199100 | 1467287 |
| Kiyo Bank Ltd. (The) | &nbsp;&nbsp; 200400 | 2621141 |
| Koa Corp. | &nbsp;&nbsp; 112800 | 997532 |
| Kobayashi Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 162800 | 6548732 |
| Kobe Steel Ltd. | &nbsp;&nbsp; 1313200 | 16391802 |
| Koei Tecmo Holdings Co. Ltd. | &nbsp;&nbsp; 419300 | 4097793 |
| Kohnan Shoji Co. Ltd. | &nbsp;&nbsp; 74200 | 2000764 |
| Kokuyo Co. Ltd. | &nbsp;&nbsp; 287300 | 4820871 |
| KOMEDA Holdings Co. Ltd. | &nbsp;&nbsp; 167000 | 2993909 |
| Komeri Co. Ltd. | &nbsp;&nbsp; 112500 | 2754352 |
| Konica Minolta Inc. | &nbsp;&nbsp; 1586300 | 4650798 |
| Konishi Co. Ltd. | &nbsp;&nbsp; 187700 | 1495383 |
| Konoike Transport Co. Ltd. | &nbsp;&nbsp; 87300 | 1396487 |
| Kosaido Holdings Co. Ltd. | &nbsp;&nbsp; 237700 | 853770 |
| Kose Corp. | &nbsp;&nbsp; 116500 | 7785254 |
| Koshidaka Holdings Co. Ltd. | &nbsp;&nbsp; 183100 | 1232492 |
| Kotobuki Spirits Co. Ltd. | &nbsp;&nbsp; 356200 | 4574351 |
| Krosaki Harima Corp. | &nbsp;&nbsp; 66600 | 1172697 |
| K's Holdings Corp. | &nbsp;&nbsp; 500340 | 5400297 |
| Kumagai Gumi Co. Ltd. | &nbsp;&nbsp; 112800 | 2703528 |
| Kumiai Chemical Industry Co. Ltd. | &nbsp;&nbsp; 256100 | 1347244 |
| Kura Sushi Inc. | &nbsp;&nbsp; 72200 | 1869809 |
| Kuraray Co. Ltd. | &nbsp;&nbsp; 1058300 | 12941985 |
| Kureha Corp. | &nbsp;&nbsp; 113100 | 2246543 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Kurita Water Industries Ltd. | &nbsp;&nbsp; 366600 | $15646045 |
| Kusuri no Aoki Holdings Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 166500 | 3468778 |
| KYB Corp. | &nbsp;&nbsp; 57700 | 2004476 |
| Kyoei Steel Ltd. | &nbsp;&nbsp; 79700 | 1060757 |
| Kyokuto Kaihatsu Kogyo Co. Ltd. | &nbsp;&nbsp; 113900 | 2031944 |
| Kyorin Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 127800 | 1460613 |
| Kyoritsu Maintenance Co. Ltd. | &nbsp;&nbsp; 224600 | 4360384 |
| Kyoto Financial Group Inc. | &nbsp;&nbsp; 794800 | 14844798 |
| Kyudenko Corp. | &nbsp;&nbsp; 150400 | 6927577 |
| Kyushu Electric Power Co. Inc. | &nbsp;&nbsp; 1411000 | 14893904 |
| Kyushu Financial Group Inc. | &nbsp;&nbsp; 1147200 | 7066287 |
| Kyushu Railway Co. | &nbsp;&nbsp; 470500 | 12558669 |
| LaSalle Logiport REIT | &nbsp;&nbsp; 6581 | 6493030 |
| Leopalace21 Corp.<sup>(c)</sup> | &nbsp;&nbsp; 585400 | 2150508 |
| Life Corp. | &nbsp;&nbsp; 80700 | 1965113 |
| Lifenet Insurance Co.<sup>(b)(c)</sup> | &nbsp;&nbsp; 207600 | 2356711 |
| Lintec Corp. | &nbsp;&nbsp; 134200 | 3017360 |
| Lion Corp. | &nbsp;&nbsp; 877200 | 7591066 |
| LITALICO Inc. | &nbsp;&nbsp; 76600 | 628928 |
| Lixil Corp. | &nbsp;&nbsp; 997900 | 11551856 |
| M&A Capital Partners Co. Ltd. | &nbsp;&nbsp; 52900 | 749260 |
| M&A Research Institute Holdings Inc., NVS<sup>(b)</sup> | &nbsp;&nbsp; 99400 | 2002227 |
| Mabuchi Motor Co. Ltd. | &nbsp;&nbsp; 322700 | 4960660 |
| Macnica Holdings Inc. | &nbsp;&nbsp; 160050 | 6459311 |
| Maeda Kosen Co. Ltd. | &nbsp;&nbsp; 118400 | 1296270 |
| Makino Milling Machine Co. Ltd. | &nbsp;&nbsp; 79900 | 3584803 |
| Mandom Corp. | &nbsp;&nbsp; 127900 | 1083806 |
| Mani Inc. | &nbsp;&nbsp; 264300 | 3717496 |
| Maruha Nichiro Corp. | &nbsp;&nbsp; 132300 | 2958529 |
| Marui Group Co. Ltd. | &nbsp;&nbsp; 548400 | 8885082 |
| Maruichi Steel Tube Ltd. | &nbsp;&nbsp; 206000 | 5020047 |
| Maruwa Co. Ltd./Aichi | &nbsp;&nbsp; 30200 | 8091033 |
| Maruzen Showa Unyu Co. Ltd. | &nbsp;&nbsp; 37300 | 1341718 |
| Matsuda Sangyo Co. Ltd. | &nbsp;&nbsp; 58100 | 1148586 |
| Matsui Securities Co. Ltd. | &nbsp;&nbsp; 421700 | 2363790 |
| Matsuyafoods Holdings Co. Ltd. | &nbsp;&nbsp; 37700 | 1479736 |
| Max Co. Ltd. | &nbsp;&nbsp; 87600 | 2191722 |
| Maxell Ltd. | &nbsp;&nbsp; 135900 | 1559425 |
| Maxvalu Tokai Co. Ltd. | &nbsp;&nbsp; 37700 | 796927 |
| MCJ Co. Ltd. | &nbsp;&nbsp; 217300 | 1976953 |
| Mebuki Financial Group Inc. | &nbsp;&nbsp; 3205400 | 13342322 |
| Medipal Holdings Corp. | &nbsp;&nbsp; 654200 | 11808482 |
| Medley Inc.<sup>(b)</sup> | &nbsp;&nbsp; 75400 | 2058958 |
| Megachips Corp. | &nbsp;&nbsp; 47600 | 1334059 |
| Megmilk Snow Brand Co. Ltd. | &nbsp;&nbsp; 159400 | 3031857 |
| Meidensha Corp. | &nbsp;&nbsp; 122000 | 2785862 |
| Meiko Electronics Co. Ltd. | &nbsp;&nbsp; 70400 | 2822127 |
| MEITEC Group Holdings Inc. | &nbsp;&nbsp; 246600 | 5568245 |
| Menicon Co. Ltd. | &nbsp;&nbsp; 213200 | 1993824 |
| Mercari Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 398500 | 5974386 |
| METAWATER Co. Ltd. | &nbsp;&nbsp; 92900 | 1153711 |
| Micronics Japan Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 98000 | 3894145 |
| Mie Kotsu Group Holdings Inc. | &nbsp;&nbsp; 211600 | 778679 |
| Milbon Co. Ltd. | &nbsp;&nbsp; 97900 | 2177473 |
| Mimasu Semiconductor Industry Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 53500 | 1317718 |
| Mirai Corp. | &nbsp;&nbsp; 6606 | 1969719 |
| Mirai Industry Co. Ltd. | &nbsp;&nbsp; 34500 | 831281 |
| Mirait One Corp. | &nbsp;&nbsp; 277000 | 3936569 |
| MISUMI Group Inc. | &nbsp;&nbsp; 992000 | 18255412 |
| Mitani Sekisan Co. Ltd. | &nbsp;&nbsp; 37200 | 1393065 |
| Mitsubishi Estate Logistics REIT Investment Corp. | &nbsp;&nbsp; 1716 | 4325804 |
| Mitsubishi Gas Chemical Co. Inc. | &nbsp;&nbsp; 536500 | 10142543 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Mitsubishi Logisnext Co. Ltd. | &nbsp;&nbsp; 118200 | $1037896 |
| Mitsubishi Logistics Corp. | &nbsp;&nbsp; 180500 | 6313676 |
| Mitsubishi Materials Corp. | &nbsp;&nbsp; 427200 | 8004187 |
| Mitsubishi Motors Corp. | &nbsp;&nbsp; 2291800 | 6533204 |
| Mitsubishi Pencil Co. Ltd. | &nbsp;&nbsp; 117900 | 1829429 |
| Mitsubishi Research Institute Inc. | &nbsp;&nbsp; 37700 | 1188566 |
| Mitsubishi Shokuhin Co. Ltd. | &nbsp;&nbsp; 59600 | 2102993 |
| Mitsuboshi Belting Ltd. | &nbsp;&nbsp; 79300 | 2326347 |
| Mitsui DM Sugar Holdings Co. Ltd. | &nbsp;&nbsp; 44400 | 975571 |
| Mitsui E&S Co. Ltd. | &nbsp;&nbsp; 317700 | 2765819 |
| Mitsui Fudosan Logistics Park Inc. | &nbsp;&nbsp; 2047 | 5767824 |
| Mitsui High-Tec Inc. | &nbsp;&nbsp; 346000 | 2699137 |
| Mitsui Mining & Smelting Co. Ltd. | &nbsp;&nbsp; 188800 | 6294310 |
| Mitsui-Soko Holdings Co. Ltd. | &nbsp;&nbsp; 68900 | 2196176 |
| Mitsuuroko Group Holdings Co. Ltd. | &nbsp;&nbsp; 120600 | 1353335 |
| Miura Co. Ltd. | &nbsp;&nbsp; 303800 | 7056265 |
| Mixi Inc. | &nbsp;&nbsp; 122700 | 2435180 |
| Mizuho Leasing Co. Ltd. | &nbsp;&nbsp; 493500 | 3723853 |
| Mizuno Corp. | &nbsp;&nbsp; 61100 | 3086952 |
| Mochida Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 72800 | 1709945 |
| Modec Inc. | &nbsp;&nbsp; 153700 | 2867119 |
| Monex Group Inc. | &nbsp;&nbsp; 640470 | 3113651 |
| Money Forward Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 154900 | 5176126 |
| Monogatari Corp. (The) | &nbsp;&nbsp; 112800 | 2560035 |
| Mori Hills REIT Investment Corp. | &nbsp;&nbsp; 5235 | 4498984 |
| Mori Trust REIT Inc. | &nbsp;&nbsp; 8693 | 4039910 |
| Morinaga & Co. Ltd./Japan | &nbsp;&nbsp; 249400 | 4786519 |
| Morinaga Milk Industry Co. Ltd. | &nbsp;&nbsp; 252700 | 6064379 |
| Morita Holdings Corp. | &nbsp;&nbsp; 99700 | 1284796 |
| MOS Food Services Inc. | &nbsp;&nbsp; 95300 | 2247082 |
| Musashi Seimitsu Industry Co. Ltd. | &nbsp;&nbsp; 152900 | 2136277 |
| Musashino Bank Ltd. (The) | &nbsp;&nbsp; 89700 | 1931110 |
| Nabtesco Corp. | &nbsp;&nbsp; 382100 | 7564389 |
| Nachi-Fujikoshi Corp. | &nbsp;&nbsp; 46000 | 1016518 |
| Nafco Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 63700 | 1271998 |
| Nagaileben Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 82800 | 1486002 |
| Nagase & Co. Ltd. | &nbsp;&nbsp; 303900 | 6676322 |
| Nagawa Co. Ltd. | &nbsp;&nbsp; 36700 | 1879265 |
| Nagoya Railroad Co. Ltd. | &nbsp;&nbsp; 655000 | 7971266 |
| Nakanishi Inc. | &nbsp;&nbsp; 233200 | 4028477 |
| Namura Shipbuilding Co. Ltd. | &nbsp;&nbsp; 158100 | 2050342 |
| Nankai Electric Railway Co. Ltd. | &nbsp;&nbsp; 348100 | 6160536 |
| Nanto Bank Ltd. (The) | &nbsp;&nbsp; 89200 | 2081487 |
| NEC Networks & System Integration Corp. | &nbsp;&nbsp; 235100 | 4329957 |
| NET One Systems Co. Ltd. | &nbsp;&nbsp; 263500 | 5324352 |
| Nextage Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 157200 | 2140270 |
| NGK Insulators Ltd. | &nbsp;&nbsp; 823000 | 11122857 |
| NH Foods Ltd. | &nbsp;&nbsp; 306300 | 10117436 |
| NHK Spring Co. Ltd. | &nbsp;&nbsp; 684900 | 7532306 |
| Nichias Corp. | &nbsp;&nbsp; 187500 | 5840414 |
| Nichicon Corp. | &nbsp;&nbsp; 152500 | 1116738 |
| Nichiden Corp. | &nbsp;&nbsp; 40500 | 934213 |
| Nichiha Corp. | &nbsp;&nbsp; 88300 | 2207866 |
| Nichirei Corp. | &nbsp;&nbsp; 370900 | 9779807 |
| Nifco Inc./Japan | &nbsp;&nbsp; 272000 | 6896609 |
| Nihon Kohden Corp. | &nbsp;&nbsp; 557600 | 8592286 |
| Nihon M&A Center Holdings Inc. | &nbsp;&nbsp; 1073800 | 5067996 |
| Nihon Parkerizing Co. Ltd. | &nbsp;&nbsp; 315700 | 2606741 |
| Nikkiso Co. Ltd. | &nbsp;&nbsp; 177100 | 1401059 |
| Nikkon Holdings Co. Ltd. | &nbsp;&nbsp; 187100 | 4719034 |
| Nikon Corp. | &nbsp;&nbsp; 1051300 | 12074851 |
| Nippn Corp., New | &nbsp;&nbsp; 163400 | 2568608 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Nippon Accommodations Fund Inc. | &nbsp;&nbsp; 1746 | $7471122 |
| Nippon Carbon Co. Ltd. | &nbsp;&nbsp; 37300 | 1232928 |
| Nippon Ceramic Co. Ltd. | &nbsp;&nbsp; 64800 | 1072274 |
| Nippon Densetsu Kogyo Co. Ltd. | &nbsp;&nbsp; 133300 | 1792928 |
| Nippon Electric Glass Co. Ltd. | &nbsp;&nbsp; 274700 | 6554862 |
| Nippon Gas Co. Ltd. | &nbsp;&nbsp; 364600 | 5683364 |
| Nippon Kanzai Holdings Co. Ltd. | &nbsp;&nbsp; 57900 | 1062465 |
| Nippon Kayaku Co. Ltd. | &nbsp;&nbsp; 445200 | 3723035 |
| Nippon Light Metal Holdings Co. Ltd. | &nbsp;&nbsp; 187090 | 2198877 |
| Nippon Paper Industries Co. Ltd. | &nbsp;&nbsp; 348100 | 2254164 |
| Nippon Parking Development Co. Ltd. | &nbsp;&nbsp; 746000 | 1025903 |
| Nippon REIT Investment Corp. | &nbsp;&nbsp; 1573 | 3456840 |
| Nippon Road Co. Ltd. (The) | &nbsp;&nbsp; 72000 | 806658 |
| Nippon Seiki Co. Ltd. | &nbsp;&nbsp; 154500 | 1411398 |
| Nippon Shinyaku Co. Ltd. | &nbsp;&nbsp; 187100 | 4278137 |
| Nippon Shokubai Co. Ltd. | &nbsp;&nbsp; 381900 | 4141001 |
| Nippon Signal Company Ltd. | &nbsp;&nbsp; 160400 | 1115791 |
| Nippon Soda Co. Ltd. | &nbsp;&nbsp; 76500 | 2750577 |
| Nippon Television Holdings Inc. | &nbsp;&nbsp; 184200 | 2950164 |
| Nipro Corp. | &nbsp;&nbsp; 506700 | 4424678 |
| Nishimatsu Construction Co. Ltd. | &nbsp;&nbsp; 118200 | 3852548 |
| Nishimatsuya Chain Co. Ltd. | &nbsp;&nbsp; 134700 | 2051725 |
| Nishi-Nippon Financial Holdings Inc. | &nbsp;&nbsp; 418400 | 5696808 |
| Nishi-Nippon Railroad Co. Ltd. | &nbsp;&nbsp; 208300 | 3458724 |
| Nishio Holdings Co. Ltd. | &nbsp;&nbsp; 68800 | 1869279 |
| Nissan Shatai Co. Ltd. | &nbsp;&nbsp; 250400 | 1562924 |
| Nissha Co. Ltd. | &nbsp;&nbsp; 128900 | 1572769 |
| Nisshin Oillio Group Ltd. (The) | &nbsp;&nbsp; 91100 | 3143736 |
| Nisshin Seifun Group Inc. | &nbsp;&nbsp; 735200 | 9097681 |
| Nisshinbo Holdings Inc. | &nbsp;&nbsp; 472100 | 3459527 |
| Nissui Corp. | &nbsp;&nbsp; 992900 | 5959790 |
| Niterra Co. Ltd. | &nbsp;&nbsp; 537400 | 15916819 |
| Nitta Corp. | &nbsp;&nbsp; 59100 | 1606659 |
| Nittetsu Mining Co. Ltd. | &nbsp;&nbsp; 37800 | 1198743 |
| Nitto Boseki Co. Ltd. | &nbsp;&nbsp; 79400 | 3004936 |
| Nitto Kogyo Corp. | &nbsp;&nbsp; 90200 | 2050817 |
| Noevir Holdings Co. Ltd. | &nbsp;&nbsp; 49000 | 1894547 |
| NOF Corp. | &nbsp;&nbsp; 711100 | 10190403 |
| Nohmi Bosai Ltd. | &nbsp;&nbsp; 81100 | 1339557 |
| Nojima Corp. | &nbsp;&nbsp; 220100 | 2420395 |
| NOK Corp. | &nbsp;&nbsp; 305100 | 4459615 |
| Nomura Co. Ltd. | &nbsp;&nbsp; 263500 | 1530273 |
| Nomura Micro Science Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 85300 | 2031137 |
| Noritake Co. Ltd./Nagoya Japan | &nbsp;&nbsp; 74800 | 1986420 |
| Noritsu Koki Co. Ltd. | &nbsp;&nbsp; 64300 | 1738898 |
| Noritz Corp. | &nbsp;&nbsp; 89200 | 1116656 |
| North Pacific Bank Ltd. | &nbsp;&nbsp; 882800 | 2993444 |
| NS Solutions Corp. | &nbsp;&nbsp; 225600 | 5173581 |
| NS United Kaiun Kaisha Ltd. | &nbsp;&nbsp; 32800 | 1060171 |
| NSD Co. Ltd. | &nbsp;&nbsp; 213780 | 4400770 |
| NSK Ltd. | &nbsp;&nbsp; 1316800 | 6903856 |
| NTN Corp. | &nbsp;&nbsp; 1486800 | 3007712 |
| NTT UD REIT Investment Corp. | &nbsp;&nbsp; 5013 | 3883427 |
| Nxera Pharma Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 267700 | 2995409 |
| Obara Group Inc. | &nbsp;&nbsp; 37700 | 1003027 |
| OBIC Business Consultants Co. Ltd. | &nbsp;&nbsp; 108000 | 4570865 |
| Odakyu Electric Railway Co. Ltd. | &nbsp;&nbsp; 1097600 | 11104606 |
| Ogaki Kyoritsu Bank Ltd. (The) | &nbsp;&nbsp; 121000 | 1871946 |
| Ohsho Food Service Corp. | &nbsp;&nbsp; 42500 | 2599595 |
| Oiles Corp. | &nbsp;&nbsp; 71600 | 1120955 |
| Oji Holdings Corp. | &nbsp;&nbsp; 2996800 | 12763246 |
| Okamoto Industries Inc. | &nbsp;&nbsp; 36100 | 1239852 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Okamura Corp. | &nbsp;&nbsp; 187300 | $2755622 |
| Okasan Securities Group Inc. | &nbsp;&nbsp; 487800 | 2361815 |
| Oki Electric Industry Co. Ltd. | &nbsp;&nbsp; 275000 | 1866273 |
| Okinawa Cellular Telephone Co. | &nbsp;&nbsp; 82400 | 2215698 |
| Okinawa Electric Power Co. Inc. (The) | &nbsp;&nbsp; 144077 | 1063844 |
| Okinawa Financial Group Inc. | &nbsp;&nbsp; 72800 | 1401174 |
| OKUMA Corp. | &nbsp;&nbsp; 78100 | 3901091 |
| Okumura Corp. | &nbsp;&nbsp; 105500 | 3602239 |
| One REIT Inc. | &nbsp;&nbsp; 789 | 1361393 |
| Onward Holdings Co. Ltd. | &nbsp;&nbsp; 366200 | 1359303 |
| Open House Group Co. Ltd. | &nbsp;&nbsp; 273800 | 9697665 |
| Open Up Group Inc. | &nbsp;&nbsp; 188931 | 2732521 |
| Optex Group Co. Ltd. | &nbsp;&nbsp; 112400 | 1281423 |
| Optorun Co. Ltd. | &nbsp;&nbsp; 112800 | 1473121 |
| Organo Corp. | &nbsp;&nbsp; 89500 | 4059281 |
| Orient Corp. | &nbsp;&nbsp; 146060 | 1024204 |
| Orix JREIT Inc. | &nbsp;&nbsp; 9147 | 9523038 |
| Osaka Organic Chemical Industry Ltd. | &nbsp;&nbsp; 48200 | 1115373 |
| Osaka Soda Co. Ltd. | &nbsp;&nbsp; 52900 | 3470770 |
| Osaka Steel Co. Ltd. | &nbsp;&nbsp; 49200 | 834949 |
| OSAKA Titanium Technologies Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 104600 | 1713421 |
| OSG Corp. | &nbsp;&nbsp; 273500 | 3773341 |
| Pacific Industrial Co. Ltd. | &nbsp;&nbsp; 152200 | 1581197 |
| PAL GROUP Holdings Co. Ltd. | &nbsp;&nbsp; 145400 | 1995587 |
| PALTAC Corp. | &nbsp;&nbsp; 105100 | 3224086 |
| Paramount Bed Holdings Co. Ltd. | &nbsp;&nbsp; 129000 | 2172091 |
| Park24 Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 452900 | 4845387 |
| Pasona Group Inc.<sup>(c)</sup> | &nbsp;&nbsp; 74300 | 1170411 |
| Penta-Ocean Construction Co. Ltd. | &nbsp;&nbsp; 968100 | 4297839 |
| PeptiDream Inc.<sup>(b)</sup> | &nbsp;&nbsp; 346000 | 6376052 |
| Persol Holdings Co. Ltd. | &nbsp;&nbsp; 6415400 | 11003079 |
| PHC Holdings Corp.<sup>(c)</sup> | &nbsp;&nbsp; 101800 | 763705 |
| Pigeon Corp. | &nbsp;&nbsp; 390600 | 3974343 |
| PILLAR Corp./Japan | &nbsp;&nbsp; 59700 | 2024301 |
| Pilot Corp. | &nbsp;&nbsp; 107200 | 3220059 |
| Piolax Inc. | &nbsp;&nbsp; 103100 | 1689135 |
| PKSHA Technology Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 56300 | 1232081 |
| Plus Alpha Consulting Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 88900 | 1139336 |
| Pola Orbis Holdings Inc. | &nbsp;&nbsp; 317100 | 2990544 |
| Pressance Corp. | &nbsp;&nbsp; 87200 | 1179024 |
| Prestige International Inc. | &nbsp;&nbsp; 322000 | 1528753 |
| Prima Meat Packers Ltd. | &nbsp;&nbsp; 80300 | 1342476 |
| Raito Kogyo Co. Ltd. | &nbsp;&nbsp; 139400 | 2022547 |
| Raiznext Corp. | &nbsp;&nbsp; 94500 | 1161124 |
| Rakus Co. Ltd. | &nbsp;&nbsp; 310800 | 4354445 |
| Rakuten Bank Ltd., NVS<sup>(b)(c)</sup> | &nbsp;&nbsp; 331700 | 7391871 |
| Raysum Co. Ltd. | &nbsp;&nbsp; 37400 | 844485 |
| Relo Group Inc. | &nbsp;&nbsp; 354400 | 4235284 |
| Rengo Co. Ltd. | &nbsp;&nbsp; 663100 | 4624838 |
| RENOVA Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 147800 | 905936 |
| Resonac Holdings Corp. | &nbsp;&nbsp; 613800 | 15238015 |
| Resorttrust Inc. | &nbsp;&nbsp; 271700 | 4586238 |
| Restar Corp. | &nbsp;&nbsp; 72000 | 1419506 |
| Retail Partners Co. Ltd. | &nbsp;&nbsp; 86300 | 967640 |
| Ricoh Leasing Co. Ltd. | &nbsp;&nbsp; 47200 | 1718214 |
| Riken Keiki Co. Ltd. | &nbsp;&nbsp; 89200 | 2618866 |
| Riken Vitamin Co. Ltd. | &nbsp;&nbsp; 82100 | 1547369 |
| Ringer Hut Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 89300 | 1351115 |
| Rinnai Corp. | &nbsp;&nbsp; 331200 | 8143562 |
| Riso Kagaku Corp. | &nbsp;&nbsp; 68900 | 1547591 |
| Rohto Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 655100 | 15387587 |
| Roland Corp. | &nbsp;&nbsp; 47400 | 1228487 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Rorze Corp. | &nbsp;&nbsp; 37000 | $6017556 |
| Round One Corp. | &nbsp;&nbsp; 657100 | 3912396 |
| Royal Holdings Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 112500 | 1902497 |
| RS Technologies Co. Ltd. | &nbsp;&nbsp; 48200 | 1040152 |
| Ryobi Ltd. | &nbsp;&nbsp; 75900 | 1040786 |
| Ryohin Keikaku Co. Ltd. | &nbsp;&nbsp; 885300 | 16694783 |
| Ryoyo Ryosan Holdings Inc. | &nbsp;&nbsp; 85892 | 1645984 |
| S Foods Inc. | &nbsp;&nbsp; 61000 | 1210458 |
| Saibu Gas Holdings Co. Ltd. | &nbsp;&nbsp; 81500 | 1043609 |
| Saizeriya Co. Ltd. | &nbsp;&nbsp; 105700 | 4072977 |
| Sakai Moving Service Co. Ltd. | &nbsp;&nbsp; 74000 | 1311649 |
| Sakata INX Corp. | &nbsp;&nbsp; 162100 | 1904702 |
| Sakata Seed Corp. | &nbsp;&nbsp; 103600 | 2388775 |
| Sakura Internet Inc.<sup>(c)</sup> | &nbsp;&nbsp; 71600 | 1452469 |
| SAMTY HOLDINGS Co. Ltd. /Japan<sup>(c)</sup> | &nbsp;&nbsp; 94300 | 1723203 |
| Samty Residential Investment Corp. | &nbsp;&nbsp; 1462 | 998514 |
| San-A Co. Ltd. | &nbsp;&nbsp; 71100 | 2426164 |
| San-Ai Obbli Co. Ltd. | &nbsp;&nbsp; 178200 | 2442842 |
| Sangetsu Corp. | &nbsp;&nbsp; 156400 | 3111663 |
| San-In Godo Bank Ltd. (The) | &nbsp;&nbsp; 472800 | 4496014 |
| Sanken Electric Co. Ltd. | &nbsp;&nbsp; 80900 | 3947834 |
| Sanki Engineering Co. Ltd. | &nbsp;&nbsp; 131700 | 2059179 |
| Sankyo Co. Ltd. | &nbsp;&nbsp; 636800 | 7071009 |
| Sankyu Inc. | &nbsp;&nbsp; 164900 | 5632624 |
| Sanrio Co. Ltd. | &nbsp;&nbsp; 530900 | 11271703 |
| Sansan Inc.<sup>(b)</sup> | &nbsp;&nbsp; 242100 | 3645840 |
| Santen Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 1143300 | 13720953 |
| Sanwa Holdings Corp. | &nbsp;&nbsp; 649200 | 13906016 |
| Sanyo Chemical Industries Ltd. | &nbsp;&nbsp; 37700 | 1033335 |
| Sanyo Denki Co. Ltd. | &nbsp;&nbsp; 32200 | 1559970 |
| Sanyo Special Steel Co. Ltd. | &nbsp;&nbsp; 68000 | 963715 |
| Sapporo Holdings Ltd. | &nbsp;&nbsp; 222700 | 9568320 |
| Sato Holdings Corp. | &nbsp;&nbsp; 88400 | 1273825 |
| Sawai Group Holdings Co. Ltd. | &nbsp;&nbsp; 138200 | 6066920 |
| SBI Sumishin Net Bank Ltd., NVS<sup>(c)</sup> | &nbsp;&nbsp; 182200 | 3481769 |
| SBS Holdings Inc. | &nbsp;&nbsp; 59300 | 1090104 |
| Sega Sammy Holdings Inc. | &nbsp;&nbsp; 544300 | 8814324 |
| Seibu Holdings Inc. | &nbsp;&nbsp; 794000 | 14904885 |
| Seiko Group Corp. | &nbsp;&nbsp; 96200 | 2875356 |
| Seino Holdings Co. Ltd. | &nbsp;&nbsp; 355900 | 5570117 |
| Seiren Co. Ltd. | &nbsp;&nbsp; 148100 | 2330576 |
| Sekisui House REIT Inc. | &nbsp;&nbsp; 14631 | 7731228 |
| Sekisui Jushi Corp. | &nbsp;&nbsp; 99300 | 1673075 |
| Senko Group Holdings Co. Ltd. | &nbsp;&nbsp; 372900 | 2849712 |
| Senshu Electric Co. Ltd. | &nbsp;&nbsp; 34600 | 1171223 |
| Senshu Ikeda Holdings Inc. | &nbsp;&nbsp; 785400 | 2015244 |
| Septeni Holdings Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 303800 | 769421 |
| Seria Co. Ltd. | &nbsp;&nbsp; 165300 | 3865897 |
| Seven Bank Ltd. | &nbsp;&nbsp; 1916700 | 3595815 |
| Sharp Corp./Japan<sup>(b)</sup> | &nbsp;&nbsp; 889700 | 5181410 |
| Shibaura Machine Co. Ltd. | &nbsp;&nbsp; 81700 | 2007899 |
| Shibaura Mechatronics Corp. | &nbsp;&nbsp; 44000 | 2318325 |
| Shibuya Corp. | &nbsp;&nbsp; 58600 | 1427469 |
| SHIFT Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 43400 | 3333864 |
| Shiga Bank Ltd. (The) | &nbsp;&nbsp; 120900 | 3247080 |
| Shikoku Electric Power Co. Inc. | &nbsp;&nbsp; 569500 | 4966849 |
| Shikoku Kasei Holdings Corp. | &nbsp;&nbsp; 93600 | 1430911 |
| Shimamura Co. Ltd. | &nbsp;&nbsp; 154200 | 7557486 |
| Shimizu Corp. | &nbsp;&nbsp; 1802900 | 11331128 |
| Shin Nippon Air Technologies Co. Ltd. | &nbsp;&nbsp; 33700 | 1007228 |
| Shin Nippon Biomedical Laboratories Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 82200 | 687136 |
| Shinagawa Refractories Co. Ltd. | &nbsp;&nbsp; 89900 | 1099704 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Shin-Etsu Polymer Co. Ltd. | &nbsp;&nbsp; 136900 | $1469476 |
| Shinko Electric Industries Co. Ltd. | &nbsp;&nbsp; 237100 | 9017982 |
| Shinmaywa Industries Ltd. | &nbsp;&nbsp; 187400 | 1843463 |
| Shinnihon Corp. | &nbsp;&nbsp; 57900 | 644849 |
| Ship Healthcare Holdings Inc. | &nbsp;&nbsp; 277800 | 4240509 |
| Shizuoka Gas Co. Ltd. | &nbsp;&nbsp; 135600 | 862063 |
| SHO-BOND Holdings Co. Ltd. | &nbsp;&nbsp; 140200 | 5399461 |
| Shochiku Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 31400 | 2011714 |
| Shoei Co. Ltd. | &nbsp;&nbsp; 179800 | 2382980 |
| Shoei Foods Corp. | &nbsp;&nbsp; 37700 | 1277378 |
| Showa Sangyo Co. Ltd. | &nbsp;&nbsp; 63300 | 1381713 |
| Siix Corp. | &nbsp;&nbsp; 112800 | 939895 |
| Simplex Holdings Inc. | &nbsp;&nbsp; 125600 | 1810795 |
| Sinfonia Technology Co. Ltd. | &nbsp;&nbsp; 58000 | 1233030 |
| Sinko Industries Ltd. | &nbsp;&nbsp; 48500 | 1310436 |
| SKY Perfect JSAT Holdings Inc. | &nbsp;&nbsp; 514100 | 3024790 |
| Skylark Holdings Co. Ltd. | &nbsp;&nbsp; 789300 | 10815952 |
| SMS Co. Ltd. | &nbsp;&nbsp; 246900 | 3598739 |
| Socionext Inc. | &nbsp;&nbsp; 625100 | 12623042 |
| Sohgo Security Services Co. Ltd. | &nbsp;&nbsp; 1350100 | 8635660 |
| Sojitz Corp. | &nbsp;&nbsp; 786220 | 18596516 |
| SOSiLA Logistics REIT Inc. | &nbsp;&nbsp; 2570 | 1988131 |
| Sotetsu Holdings Inc. | &nbsp;&nbsp; 279800 | 4589362 |
| Sparx Group Co. Ltd. | &nbsp;&nbsp; 85320 | 933558 |
| Square Enix Holdings Co. Ltd. | &nbsp;&nbsp; 277600 | 9375085 |
| SRE Holdings Corp.<sup>(b)</sup> | &nbsp;&nbsp; 37300 | 1201738 |
| Stanley Electric Co. Ltd. | &nbsp;&nbsp; 441400 | 8666408 |
| Star Asia Investment Corp. | &nbsp;&nbsp; 7801 | 2945046 |
| Star Micronics Co. Ltd. | &nbsp;&nbsp; 126200 | 1771024 |
| Starts Corp. Inc. | &nbsp;&nbsp; 112100 | 2585761 |
| Starts Proceed Investment Corp. | &nbsp;&nbsp; 909 | 1180204 |
| Strike Co. Ltd. | &nbsp;&nbsp; 31900 | 861567 |
| Sugi Holdings Co. Ltd. | &nbsp;&nbsp; 366600 | 6334473 |
| Sumiseki Holdings Inc.<sup>(c)</sup> | &nbsp;&nbsp; 56800 | 394763 |
| Sumitomo Bakelite Co. Ltd. | &nbsp;&nbsp; 231900 | 6528428 |
| Sumitomo Chemical Co. Ltd. | &nbsp;&nbsp; 5282100 | 13540418 |
| Sumitomo Densetsu Co. Ltd. | &nbsp;&nbsp; 65100 | 1788997 |
| Sumitomo Forestry Co. Ltd. | &nbsp;&nbsp; 539800 | 23018664 |
| Sumitomo Heavy Industries Ltd. | &nbsp;&nbsp; 388200 | 10425223 |
| Sumitomo Mitsui Construction Co. Ltd. | &nbsp;&nbsp; 408580 | 1081211 |
| Sumitomo Osaka Cement Co. Ltd. | &nbsp;&nbsp; 104400 | 2939624 |
| Sumitomo Pharma Co. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 552700 | 1532296 |
| Sumitomo Riko Co. Ltd. | &nbsp;&nbsp; 117900 | 1189984 |
| Sumitomo Rubber Industries Ltd. | &nbsp;&nbsp; 602100 | 6273603 |
| Sumitomo Warehouse Co. Ltd. (The) | &nbsp;&nbsp; 167400 | 3147971 |
| Sun Frontier Fudousan Co. Ltd. | &nbsp;&nbsp; 112800 | 1534777 |
| Sundrug Co. Ltd. | &nbsp;&nbsp; 251900 | 6995352 |
| SUNWELS Co. Ltd. | &nbsp;&nbsp; 40600 | 688553 |
| Suruga Bank Ltd. | &nbsp;&nbsp; 534800 | 4244024 |
| Suzuken Co. Ltd. | &nbsp;&nbsp; 219600 | 8003061 |
| SWCC Corp. | &nbsp;&nbsp; 97900 | 2905151 |
| Systena Corp. | &nbsp;&nbsp; 965100 | 2172238 |
| T Hasegawa Co. Ltd. | &nbsp;&nbsp; 112800 | 2421983 |
| Tadano Ltd. | &nbsp;&nbsp; 327500 | 2435162 |
| Taihei Dengyo Kaisha Ltd. | &nbsp;&nbsp; 40800 | 1439842 |
| Taiheiyo Cement Corp. | &nbsp;&nbsp; 384300 | 10496405 |
| Taikisha Ltd. | &nbsp;&nbsp; 78600 | 2709438 |
| Taiyo Holdings Co. Ltd. | &nbsp;&nbsp; 141800 | 3388871 |
| Taiyo Yuden Co. Ltd. | &nbsp;&nbsp; 429800 | 12915542 |
| Takamatsu Construction Group Co. Ltd. | &nbsp;&nbsp; 52600 | 1098183 |
| Takara Bio Inc. | &nbsp;&nbsp; 170100 | 1305633 |
| Takara Holdings Inc. | &nbsp;&nbsp; 478300 | 3628793 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Takara Leben Real Estate Investment Corp. | &nbsp;&nbsp; 2418 | $1611778 |
| Takara Standard Co. Ltd. | &nbsp;&nbsp; 147000 | 1696261 |
| Takasago International Corp. | &nbsp;&nbsp; 28900 | 748021 |
| Takasago Thermal Engineering Co. Ltd. | &nbsp;&nbsp; 149400 | 5883806 |
| Takashimaya Co. Ltd. | &nbsp;&nbsp; 490000 | 9073834 |
| Takeuchi Manufacturing Co. Ltd. | &nbsp;&nbsp; 120000 | 3838492 |
| Takuma Co. Ltd. | &nbsp;&nbsp; 231300 | 2685394 |
| Tama Home Co. Ltd. | &nbsp;&nbsp; 48200 | 1441924 |
| Tamron Co. Ltd. | &nbsp;&nbsp; 124200 | 3512897 |
| TBS Holdings Inc. | &nbsp;&nbsp; 118500 | 3346698 |
| TechMatrix Corp. | &nbsp;&nbsp; 135200 | 1889895 |
| TechnoPro Holdings Inc. | &nbsp;&nbsp; 368500 | 7085882 |
| Teijin Ltd. | &nbsp;&nbsp; 624700 | 6011502 |
| T-Gaia Corp. | &nbsp;&nbsp; 63500 | 1644557 |
| THK Co. Ltd. | &nbsp;&nbsp; 411700 | 7772871 |
| TKC Corp. | &nbsp;&nbsp; 94100 | 2228726 |
| TKP Corp.<sup>(b)(c)</sup> | &nbsp;&nbsp; 77400 | 931829 |
| Toa Corp./Tokyo | &nbsp;&nbsp; 205700 | 1386785 |
| Toagosei Co. Ltd. | &nbsp;&nbsp; 304500 | 3262066 |
| Tobu Railway Co. Ltd. | &nbsp;&nbsp; 662100 | 11630422 |
| Tocalo Co. Ltd. | &nbsp;&nbsp; 187400 | 2448962 |
| Toda Corp. | &nbsp;&nbsp; 825600 | 5966804 |
| Toei Animation Co. Ltd. | &nbsp;&nbsp; 215900 | 3348232 |
| Toei Co. Ltd. | &nbsp;&nbsp; 119300 | 3073580 |
| Toenec Corp. | &nbsp;&nbsp; 16800 | 558278 |
| Toho Bank Ltd. (The) | &nbsp;&nbsp; 604900 | 1269427 |
| Toho Gas Co. Ltd. | &nbsp;&nbsp; 262900 | 8120007 |
| Toho Holdings Co. Ltd. | &nbsp;&nbsp; 175800 | 5111990 |
| Toho Titanium Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 112900 | 1032278 |
| Tohoku Electric Power Co. Inc. | &nbsp;&nbsp; 1581500 | 13446964 |
| Tokai Carbon Co. Ltd. | &nbsp;&nbsp; 710400 | 4552604 |
| Tokai Corp./Gifu | &nbsp;&nbsp; 40500 | 604392 |
| TOKAI Holdings Corp. | &nbsp;&nbsp; 353800 | 2376872 |
| Tokai Rika Co. Ltd. | &nbsp;&nbsp; 187400 | 2543102 |
| Tokai Tokyo Financial Holdings Inc. | &nbsp;&nbsp; 628200 | 2455048 |
| Token Corp. | &nbsp;&nbsp; 21000 | 1659205 |
| Tokuyama Corp. | &nbsp;&nbsp; 218100 | 4275511 |
| Tokyo Century Corp. | &nbsp;&nbsp; 521500 | 5555109 |
| Tokyo Electron Device Ltd. | &nbsp;&nbsp; 61900 | 1608711 |
| Tokyo Kiraboshi Financial Group Inc. | &nbsp;&nbsp; 84900 | 2558760 |
| Tokyo Ohka Kogyo Co. Ltd. | &nbsp;&nbsp; 333000 | 8571359 |
| Tokyo Seimitsu Co. Ltd. | &nbsp;&nbsp; 138800 | 9567681 |
| Tokyo Steel Manufacturing Co. Ltd. | &nbsp;&nbsp; 195000 | 2480808 |
| Tokyo Tatemono Co. Ltd. | &nbsp;&nbsp; 668700 | 11665209 |
| Tokyotokeiba Co. Ltd. | &nbsp;&nbsp; 50400 | 1412679 |
| Tokyu Construction Co. Ltd. | &nbsp;&nbsp; 255540 | 1343718 |
| Tokyu Fudosan Holdings Corp. | &nbsp;&nbsp; 1998700 | 14431179 |
| Tokyu REIT Inc. | &nbsp;&nbsp; 3014 | 3047600 |
| TOMONY Holdings Inc. | &nbsp;&nbsp; 587700 | 1679885 |
| Tomy Co. Ltd. | &nbsp;&nbsp; 289200 | 6562077 |
| Topcon Corp. | &nbsp;&nbsp; 342700 | 3544575 |
| Topre Corp. | &nbsp;&nbsp; 118900 | 1631516 |
| Toridoll Holdings Corp.<sup>(c)</sup> | &nbsp;&nbsp; 156900 | 4103361 |
| Torii Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 39600 | 987469 |
| Tosei Corp. | &nbsp;&nbsp; 107800 | 1799132 |
| Toshiba TEC Corp. | &nbsp;&nbsp; 111400 | 2497044 |
| Tosoh Corp. | &nbsp;&nbsp; 900700 | 12252507 |
| Totech Corp. | &nbsp;&nbsp; 75300 | 1283130 |
| Totetsu Kogyo Co. Ltd. | &nbsp;&nbsp; 82000 | 1776907 |
| Towa Corp.<sup>(c)</sup> | &nbsp;&nbsp; 69900 | 4026327 |
| Towa Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 94600 | 1935509 |
| Toyo Construction Co. Ltd. | &nbsp;&nbsp; 178800 | 1823644 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Toyo Gosei Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 17800 | $1105899 |
| Toyo Seikan Group Holdings Ltd. | &nbsp;&nbsp; 422300 | 7251016 |
| Toyo Suisan Kaisha Ltd. | &nbsp;&nbsp; 310300 | 20835384 |
| Toyo Tanso Co. Ltd. | &nbsp;&nbsp; 49000 | 1990817 |
| Toyo Tire Corp. | &nbsp;&nbsp; 408500 | 6665023 |
| Toyobo Co. Ltd. | &nbsp;&nbsp; 275100 | 1888791 |
| Toyoda Gosei Co. Ltd. | &nbsp;&nbsp; 215800 | 3940225 |
| Toyota Boshoku Corp. | &nbsp;&nbsp; 294700 | 3971281 |
| Trancom Co. Ltd. | &nbsp;&nbsp; 29700 | 1319375 |
| Transcosmos Inc. | &nbsp;&nbsp; 85100 | 1959346 |
| TRE Holdings Corp. | &nbsp;&nbsp; 154200 | 1346153 |
| Tri Chemical Laboratories Inc. | &nbsp;&nbsp; 96300 | 2376187 |
| Trusco Nakayama Corp. | &nbsp;&nbsp; 171500 | 2776209 |
| TS Tech Co. Ltd. | &nbsp;&nbsp; 271200 | 3596359 |
| Tsubakimoto Chain Co. | &nbsp;&nbsp; 92200 | 3987217 |
| Tsuburaya Fields Holdings Inc.<sup>(c)</sup> | &nbsp;&nbsp; 129500 | 1362578 |
| Tsugami Corp. | &nbsp;&nbsp; 129700 | 1425219 |
| Tsumura & Co. | &nbsp;&nbsp; 198800 | 5270846 |
| Tsuruha Holdings Inc. | &nbsp;&nbsp; 130500 | 8084980 |
| Tsurumi Manufacturing Co. Ltd. | &nbsp;&nbsp; 51300 | 1358255 |
| TV Asahi Holdings Corp. | &nbsp;&nbsp; 76000 | 1059175 |
| UACJ Corp. | &nbsp;&nbsp; 116094 | 3305471 |
| UBE Corp. | &nbsp;&nbsp; 327400 | 5849820 |
| Ulvac Inc. | &nbsp;&nbsp; 155400 | 9522429 |
| U-Next Holdings Co. Ltd. | &nbsp;&nbsp; 72300 | 2489917 |
| Union Tool Co. | &nbsp;&nbsp; 34800 | 1346598 |
| United Super Markets Holdings Inc.<sup>(c)</sup> | &nbsp;&nbsp; 187400 | 1123362 |
| United Urban Investment Corp. | &nbsp;&nbsp; 10252 | 9813209 |
| Universal Entertainment Corp.<sup>(c)</sup> | &nbsp;&nbsp; 85000 | 867054 |
| Ushio Inc. | &nbsp;&nbsp; 256000 | 3670929 |
| USS Co. Ltd. | &nbsp;&nbsp; 1421400 | 12820327 |
| UT Group Co. Ltd. | &nbsp;&nbsp; 108200 | 2343773 |
| Valor Holdings Co. Ltd. | &nbsp;&nbsp; 121500 | 2066520 |
| Vector Inc. | &nbsp;&nbsp; 112900 | 743795 |
| Visional Inc.<sup>(b)</sup> | &nbsp;&nbsp; 81300 | 4292449 |
| VT Holdings Co. Ltd. | &nbsp;&nbsp; 258000 | 896933 |
| Wacoal Holdings Corp. | &nbsp;&nbsp; 139400 | 4062401 |
| Wacom Co. Ltd. | &nbsp;&nbsp; 471700 | 2274738 |
| Wakita & Co. Ltd. | &nbsp;&nbsp; 107300 | 1198393 |
| WealthNavi Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 138000 | 1259893 |
| Welcia Holdings Co. Ltd. | &nbsp;&nbsp; 328400 | 4408480 |
| West Holdings Corp. | &nbsp;&nbsp; 84630 | 1304182 |
| WingArc1st Inc. | &nbsp;&nbsp; 67900 | 1265192 |
| Workman Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 71200 | 2035249 |
| Yamabiko Corp. | &nbsp;&nbsp; 112800 | 1598130 |
| Yamada Holdings Co. Ltd. | &nbsp;&nbsp; 1781000 | 5403624 |
| Yamaguchi Financial Group Inc. | &nbsp;&nbsp; 607800 | 7555520 |
| Yamaha Corp. | &nbsp;&nbsp; 452000 | 10743630 |
| YA-MAN Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 125700 | 703162 |
| Yamato Kogyo Co. Ltd. | &nbsp;&nbsp; 133000 | 7028605 |
| Yamazaki Baking Co. Ltd. | &nbsp;&nbsp; 426500 | 10545451 |
| Yamazen Corp. | &nbsp;&nbsp; 188200 | 1946738 |
| Yaoko Co. Ltd. | &nbsp;&nbsp; 61100 | 3736907 |
| Yellow Hat Ltd. | &nbsp;&nbsp; 112900 | 1976445 |
| Yodogawa Steel Works Ltd. | &nbsp;&nbsp; 69300 | 2605896 |
| Yokogawa Bridge Holdings Corp. | &nbsp;&nbsp; 118300 | 2140832 |
| Yokohama Rubber Co. Ltd. (The) | &nbsp;&nbsp; 420600 | 9559960 |
| Yokorei Co. Ltd. | &nbsp;&nbsp; 158400 | 1145468 |
| Yonex Co. Ltd. | &nbsp;&nbsp; 213700 | 3121302 |
| Yoshinoya Holdings Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 223700 | 4304592 |
| Yuasa Trading Co. Ltd. | &nbsp;&nbsp; 54900 | 2048200 |
| Yurtec Corp. | &nbsp;&nbsp; 114700 | 1154331 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Zenkoku Hosho Co. Ltd. | &nbsp;&nbsp; 180200 | $7453868 |
| Zeon Corp. | &nbsp;&nbsp; 529600 | 4677464 |
| ZERIA Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 93200 | 1361311 |
| ZIGExN Co. Ltd. | &nbsp;&nbsp; 206300 | 797922 |
| Zojirushi Corp. | &nbsp;&nbsp; 130700 | 1308865 |
| Zuken Inc. | &nbsp;&nbsp; 55500 | 1360060 |
|  |  | 3423396526 |
| **Netherlands — 1.3%** | **Netherlands — 1.3%** | **Netherlands — 1.3%** |
| Aalberts NV | &nbsp;&nbsp; 348811 | 13337700 |
| Alfen NV<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 77334 | 1429802 |
| Allfunds Group PLC | &nbsp;&nbsp; 1189647 | 7150313 |
| AMG Critical Materials NV | &nbsp;&nbsp; 105237 | 1790264 |
| Arcadis NV | &nbsp;&nbsp; 254333 | 18164751 |
| Basic-Fit NV<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 186178 | 4503949 |
| Brunel International NV<sup>(c)</sup> | &nbsp;&nbsp; 78695 | 897157 |
| Corbion NV | &nbsp;&nbsp; 187309 | 4192970 |
| Eurocommercial Properties NV | &nbsp;&nbsp; 153048 | 3812017 |
| Fastned BV<sup>(b)(c)</sup> | &nbsp;&nbsp; 29718 | 556408 |
| Flow Traders Ltd., NVS | &nbsp;&nbsp; 114067 | 1901556 |
| Fugro NV | &nbsp;&nbsp; 399746 | 10676408 |
| Just Eat Takeaway.com NV<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 653146 | 8323938 |
| Koninklijke Vopak NV | &nbsp;&nbsp; 245650 | 10973941 |
| Pharming Group NV<sup>(b)(c)</sup> | &nbsp;&nbsp; 2313613 | 2002730 |
| PostNL NV | &nbsp;&nbsp; 1112445 | 1642528 |
| Royal BAM Group NV | &nbsp;&nbsp; 943234 | 3909115 |
| SBM Offshore NV | &nbsp;&nbsp; 510974 | 8280973 |
| Signify NV<sup>(d)</sup> | &nbsp;&nbsp; 449172 | 11118973 |
| Sligro Food Group NV<sup>(c)</sup> | &nbsp;&nbsp; 72515 | 963669 |
| TKH Group NV | &nbsp;&nbsp; 137810 | 6039070 |
| TomTom NV<sup>(b)(c)</sup> | &nbsp;&nbsp; 254927 | 1398691 |
| Van Lanschot Kempen NV | &nbsp;&nbsp; 104416 | 4519050 |
| Vastned Retail NV | &nbsp;&nbsp; 40138 | 1016481 |
| Wereldhave NV | &nbsp;&nbsp; 120098 | 1801464 |
|  |  | 130403918 |
| **New Zealand — 0.7%** | **New Zealand — 0.7%** | **New Zealand — 0.7%** |
| Air New Zealand Ltd. | &nbsp;&nbsp; 5762306 | 1989073 |
| Contact Energy Ltd. | &nbsp;&nbsp; 2753634 | 13930012 |
| EBOS Group Ltd. | &nbsp;&nbsp; 537898 | 11524678 |
| Fletcher Building Ltd. | &nbsp;&nbsp; 2760609 | 5126085 |
| Goodman Property Trust | &nbsp;&nbsp; 3776882 | 4641729 |
| Infratil Ltd. | &nbsp;&nbsp; 3249578 | 20876158 |
| Kiwi Property Group Ltd. | &nbsp;&nbsp; 5846400 | 3139901 |
| Ryman Healthcare Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2122115 | 5736256 |
|  |  | 66963892 |
| **Norway — 2.4%** | **Norway — 2.4%** | **Norway — 2.4%** |
| Aker ASA, Class A | &nbsp;&nbsp; 80961 | 4749307 |
| Aker Carbon Capture ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 1258425 | 734559 |
| Aker Solutions ASA | &nbsp;&nbsp; 941730 | 4493132 |
| Atea ASA | &nbsp;&nbsp; 280698 | 3735574 |
| Austevoll Seafood ASA | &nbsp;&nbsp; 327063 | 2701099 |
| Avance Gas Holding Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 70020 | 1076875 |
| Bakkafrost P/F | &nbsp;&nbsp; 175132 | 9147963 |
| Belships ASA | &nbsp;&nbsp; 88976 | 187565 |
| BlueNord ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 83541 | 3905001 |
| Borr Drilling Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 742421 | 5044266 |
| Borregaard ASA | &nbsp;&nbsp; 343085 | 5880235 |
| BW Offshore Ltd. | &nbsp;&nbsp; 381707 | 1063543 |
| Cadeler AS<sup>(b)</sup> | &nbsp;&nbsp; 668985 | 4322718 |
| Cavendish Hydrogen ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 121007 | 206333 |
| Cool Co. Ltd. | &nbsp;&nbsp; 84169 | 1026018 |
| Crayon Group Holding ASA<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 267740 | 3194263 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| DNO ASA | &nbsp;&nbsp; 1818582 | $1851963 |
| DOF Group ASA<sup>(b)</sup> | &nbsp;&nbsp; 505337 | 5226238 |
| Elkem ASA<sup>(b)(d)</sup> | &nbsp;&nbsp; 1048311 | 2187760 |
| Entra ASA<sup>(b)(d)</sup> | &nbsp;&nbsp; 258593 | 2906828 |
| Europris ASA<sup>(d)</sup> | &nbsp;&nbsp; 560540 | 3344548 |
| Flex LNG Ltd. | &nbsp;&nbsp; 107819 | 2907296 |
| Frontline PLC, NVS | &nbsp;&nbsp; 512067 | 12620279 |
| Golden Ocean Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 452217 | 5620280 |
| Grieg Seafood ASA<sup>(c)</sup> | &nbsp;&nbsp; 177304 | 1034352 |
| Hafnia Ltd. | &nbsp;&nbsp; 1017991 | 8065993 |
| Hoegh Autoliners ASA | &nbsp;&nbsp; 433527 | 4738713 |
| Kitron ASA | &nbsp;&nbsp; 618298 | 2061407 |
| Leroy Seafood Group ASA | &nbsp;&nbsp; 970213 | 4214992 |
| MPC Container Ships ASA | &nbsp;&nbsp; 1337833 | 2806810 |
| NEL ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 6050527 | 3259916 |
| Norconsult Norge A/S, NVS | &nbsp;&nbsp; 343098 | 1034583 |
| Nordic Semiconductor ASA<sup>(b)</sup> | &nbsp;&nbsp; 637748 | 7887891 |
| Norwegian Air Shuttle ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 2544324 | 2655274 |
| Nykode Therapeutics ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 553221 | 761531 |
| Odfjell Drilling Ltd. | &nbsp;&nbsp; 325106 | 1699016 |
| Odfjell SE, Class A | &nbsp;&nbsp; 30208 | 460104 |
| Protector Forsikring ASA | &nbsp;&nbsp; 192995 | 3988433 |
| REC Silicon ASA<sup>(b)(c)</sup> | &nbsp;&nbsp; 1022625 | 839305 |
| Scatec ASA<sup>(b)(d)</sup> | &nbsp;&nbsp; 431249 | 3480887 |
| Schibsted ASA, Class A | &nbsp;&nbsp; 252749 | 7264686 |
| Schibsted ASA, Class B | &nbsp;&nbsp; 343938 | 9349808 |
| Seadrill Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 104236 | 5739965 |
| SpareBank 1 Nord Norge | &nbsp;&nbsp; 298530 | 2952302 |
| SpareBank 1 Oestlandet | &nbsp;&nbsp; 92227 | 1270599 |
| SpareBank 1 SMN | &nbsp;&nbsp; 469198 | 7003610 |
| SpareBank 1 SR-Bank ASA | &nbsp;&nbsp; 655677 | 8417322 |
| Stolt-Nielsen Ltd. | &nbsp;&nbsp; 82290 | 3228064 |
| Storebrand ASA | &nbsp;&nbsp; 1554504 | 15602494 |
| Subsea 7 SA | &nbsp;&nbsp; 803071 | 15447084 |
| TGS ASA | &nbsp;&nbsp; 691643 | 8457504 |
| TOMRA Systems ASA | &nbsp;&nbsp; 825899 | 13613535 |
| Wallenius Wilhelmsen ASA | &nbsp;&nbsp; 373213 | 3470228 |
|  |  | 238940051 |
| **Portugal — 0.3%** | **Portugal — 0.3%** | **Portugal — 0.3%** |
| Altri SGPS SA | &nbsp;&nbsp; 265978 | 1446470 |
| Banco Comercial Portugues SA, Class R | &nbsp;&nbsp; 28881080 | 12174894 |
| Corticeira Amorim SGPS SA | &nbsp;&nbsp; 102043 | 1004968 |
| CTT-Correios de Portugal SA | &nbsp;&nbsp; 322754 | 1458569 |
| Greenvolt Energias Renovaveis SA<sup>(b)(c)</sup> | &nbsp;&nbsp; 189559 | 1706850 |
| Mota-Engil SGPS SA | &nbsp;&nbsp; 321837 | 1262789 |
| Navigator Co. SA (The) | &nbsp;&nbsp; 756113 | 3067876 |
| NOS SGPS SA | &nbsp;&nbsp; 611696 | 2353438 |
| REN - Redes Energeticas Nacionais SGPS SA | &nbsp;&nbsp; 1462895 | 3709894 |
| Semapa-Sociedade de Investimento e Gestao | &nbsp;&nbsp; 71944 | 1164154 |
| Sonae SGPS SA | &nbsp;&nbsp; 2779096 | 2834720 |
|  |  | 32184622 |
| **Singapore — 2.3%** | **Singapore — 2.3%** | **Singapore — 2.3%** |
| AEM Holdings Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 920918 | 1161857 |
| AIMS APAC REIT<sup>(c)</sup> | &nbsp;&nbsp; 2043275 | 2003981 |
| Best World International Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 494700 | 928927 |
| BW LPG Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 294650 | 4788137 |
| CapitaLand Ascott Trust | &nbsp;&nbsp; 9276396 | 6263236 |
| CapitaLand China Trust<sup>(c)</sup> | &nbsp;&nbsp; 4182834 | 2160564 |
| Capitaland India Trust | &nbsp;&nbsp; 3756042 | 3067827 |
| CDL Hospitality Trusts<sup>(c)</sup> | &nbsp;&nbsp; 3135300 | 2268450 |
| City Developments Ltd. | &nbsp;&nbsp; 1725700 | 6879771 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Singapore (continued)** | **Singapore (continued)** | **Singapore (continued)** |
| ComfortDelGro Corp. Ltd. | &nbsp;&nbsp; 7631400 | $8006222 |
| Cromwell European Real Estate Investment Trust | &nbsp;&nbsp; 1084660 | 1643422 |
| Digital Core REIT Management Pte Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 3386400 | 1931870 |
| Eagle Hospitality Trust<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 1640200 | 16 |
| ESR-LOGOS REIT<sup>(c)</sup> | &nbsp;&nbsp; 24332873 | 5006015 |
| Far East Hospitality Trust | &nbsp;&nbsp; 3393800 | 1587688 |
| First Resources Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1961700 | 2176027 |
| Frasers Centrepoint Trust | &nbsp;&nbsp; 4152441 | 6879436 |
| Frasers Hospitality Trust<sup>(c)</sup> | &nbsp;&nbsp; 2908600 | 913901 |
| Frasers Logistics & Commercial Trust | &nbsp;&nbsp; 10445336 | 7764322 |
| Golden Agri-Resources Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 22726100 | 4675453 |
| Hong Fok Corp. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1141600 | 691775 |
| Hutchison Port Holdings Trust, Class U<sup>(c)</sup> | &nbsp;&nbsp; 16768100 | 2045708 |
| iFAST Corp. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 483000 | 2710349 |
| Keppel DC REIT<sup>(c)</sup> | &nbsp;&nbsp; 4889400 | 7423577 |
| Keppel Infrastructure Trust<sup>(c)</sup> | &nbsp;&nbsp; 14182690 | 5104665 |
| Keppel REIT | &nbsp;&nbsp; 8259800 | 5414250 |
| Lendlease Global Commercial REIT<sup>(c)</sup> | &nbsp;&nbsp; 6426429 | 2867960 |
| Mapletree Industrial Trust | &nbsp;&nbsp; 7560893 | 13118989 |
| Mapletree Logistics Trust<sup>(c)</sup> | &nbsp;&nbsp; 11926400 | 11562817 |
| Mapletree Pan Asia Commercial Trust | &nbsp;&nbsp; 7789200 | 7491658 |
| NetLink NBN Trust | &nbsp;&nbsp; 10319200 | 6561921 |
| Olam Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 3393600 | 2942782 |
| Paragon REIT | &nbsp;&nbsp; 4109136 | 2705199 |
| Parkway Life REIT | &nbsp;&nbsp; 1400100 | 3808977 |
| Raffles Medical Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 2946500 | 2072051 |
| Riverstone Holdings Ltd./Singapore<sup>(c)</sup> | &nbsp;&nbsp; 1899100 | 1356633 |
| Sasseur Real Estate Investment Trust | &nbsp;&nbsp; 2283400 | 1146789 |
| SATS Ltd. | &nbsp;&nbsp; 3137679 | 7713423 |
| Seatrium Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 7737100 | 9742859 |
| Sheng Siong Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 2341500 | 2696798 |
| SIA Engineering Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1056600 | 1811028 |
| Singapore Post Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 4780300 | 1573526 |
| Starhill Global REIT | &nbsp;&nbsp; 5002600 | 1852538 |
| StarHub Ltd. | &nbsp;&nbsp; 2054200 | 1951698 |
| Suntec REIT<sup>(c)</sup> | &nbsp;&nbsp; 7178500 | 6352358 |
| Super Hi International Holding Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 654000 | 1039282 |
| UMS Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 2016300 | 1694682 |
| UOL Group Ltd. | &nbsp;&nbsp; 1652300 | 6675815 |
| Venture Corp. Ltd. | &nbsp;&nbsp; 979400 | 11087171 |
| Yangzijiang Financial Holding Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 8180100 | 2086228 |
| Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp; 9025100 | 18196950 |
| Yanlord Land Group Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 2194400 | 738743 |
|  |  | 224346321 |
| **Spain — 1.8%** | **Spain — 1.8%** | **Spain — 1.8%** |
| Acerinox SA | &nbsp;&nbsp; 655552 | 6888208 |
| Aedas Homes SA<sup>(d)</sup> | &nbsp;&nbsp; 27625 | 692119 |
| Almirall SA<sup>(c)</sup> | &nbsp;&nbsp; 301082 | 3001442 |
| Atresmedia Corp. de Medios de Comunicacion SA | &nbsp;&nbsp; 296706 | 1500126 |
| Audax Renovables SA<sup>(b)</sup> | &nbsp;&nbsp; 542448 | 1072237 |
| Bankinter SA | &nbsp;&nbsp; 2348870 | 20062750 |
| Cia. de Distribucion Integral Logista Holdings SA | &nbsp;&nbsp; 217421 | 6438742 |
| Cie. Automotive SA | &nbsp;&nbsp; 152530 | 4455311 |
| Construcciones y Auxiliar de Ferrocarriles SA | &nbsp;&nbsp; 60242 | 2280728 |
| Distribuidora Internacional de Alimentacion SA<sup>(b)</sup> | &nbsp;&nbsp; 65957017 | 906551 |
| eDreams ODIGEO SA<sup>(b)</sup> | &nbsp;&nbsp; 327115 | 2393176 |
| Enagas SA | &nbsp;&nbsp; 824242 | 12356998 |
| Ence Energia y Celulosa SA<sup>(b)</sup> | &nbsp;&nbsp; 492869 | 1731598 |
| Faes Farma SA | &nbsp;&nbsp; 1089147 | 4169644 |
| Fluidra SA | &nbsp;&nbsp; 336210 | 7490327 |
| Gestamp Automocion SA<sup>(d)</sup> | &nbsp;&nbsp; 647439 | 1877764 |
| Global Dominion Access SA<sup>(d)</sup> | &nbsp;&nbsp; 322073 | 1051969 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Grenergy Renovables SA<sup>(b)</sup> | &nbsp;&nbsp; 52408 | $1985149 |
| Indra Sistemas SA | &nbsp;&nbsp; 342281 | 6864061 |
| Inmobiliaria Colonial SOCIMI SA | &nbsp;&nbsp; 980957 | 5706488 |
| Laboratorios Farmaceuticos Rovi SA | &nbsp;&nbsp; 77317 | 7438993 |
| Lar Espana Real Estate SOCIMI SA | &nbsp;&nbsp; 191811 | 1689762 |
| Let's Gowex SA.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 51450 | 1 |
| Linea Directa Aseguradora SA Cia de Seguros <br> y Reaseguros<br>| &nbsp;&nbsp; 2148044 | 2571141 |
| Mapfre SA | &nbsp;&nbsp; 3269270 | 7922851 |
| Melia Hotels International SA | &nbsp;&nbsp; 394109 | 3017624 |
| Merlin Properties SOCIMI SA | &nbsp;&nbsp; 1400026 | 15988116 |
| Neinor Homes SA<sup>(d)</sup> | &nbsp;&nbsp; 89807 | 1263517 |
| Pharma Mar SA<sup>(c)</sup> | &nbsp;&nbsp; 54499 | 2291867 |
| Prosegur Cash SA<sup>(d)</sup> | &nbsp;&nbsp; 1260096 | 728236 |
| Prosegur Cia. de Seguridad SA | &nbsp;&nbsp; 417694 | 775717 |
| Sacyr SA | &nbsp;&nbsp; 1512688 | 5344300 |
| Solaria Energia y Medio Ambiente SA<sup>(b)(c)</sup> | &nbsp;&nbsp; 287157 | 3429174 |
| Talgo SA<sup>(d)</sup> | &nbsp;&nbsp; 253734 | 1150589 |
| Tecnicas Reunidas SA<sup>(b)</sup> | &nbsp;&nbsp; 173423 | 2163616 |
| Unicaja Banco SA<sup>(d)</sup> | &nbsp;&nbsp; 3685954 | 4961357 |
| Vidrala SA | &nbsp;&nbsp; 74619 | 7765779 |
| Viscofan SA | &nbsp;&nbsp; 145268 | 9686159 |
|  |  | 171114187 |
| **Sweden — 5.8%** | **Sweden — 5.8%** | **Sweden — 5.8%** |
| AAK AB | &nbsp;&nbsp; 636646 | 18320798 |
| AcadeMedia AB<sup>(d)</sup> | &nbsp;&nbsp; 293716 | 1511201 |
| AddLife AB, Class B | &nbsp;&nbsp; 408764 | 5993231 |
| Addnode Group AB, Class B | &nbsp;&nbsp; 438105 | 4353903 |
| AddTech AB, Class B | &nbsp;&nbsp; 908911 | 29329527 |
| AFRY AB | &nbsp;&nbsp; 322504 | 5845671 |
| Alimak Group AB<sup>(d)</sup> | &nbsp;&nbsp; 234656 | 2487662 |
| Alleima AB, NVS | &nbsp;&nbsp; 654121 | 4753465 |
| Alligo AB | &nbsp;&nbsp; 57836 | 760955 |
| AQ Group AB | &nbsp;&nbsp; 175209 | 2333716 |
| Arjo AB, Class B | &nbsp;&nbsp; 769140 | 2980916 |
| Atrium Ljungberg AB, Class B | &nbsp;&nbsp; 189858 | 4060950 |
| Attendo AB<sup>(d)</sup> | &nbsp;&nbsp; 384695 | 1681146 |
| Avanza Bank Holding AB<sup>(c)</sup> | &nbsp;&nbsp; 440280 | 9890374 |
| Axfood AB | &nbsp;&nbsp; 383230 | 9504528 |
| Betsson AB | &nbsp;&nbsp; 406413 | 4837490 |
| Better Collective A/S<sup>(b)(c)</sup> | &nbsp;&nbsp; 133329 | 3056463 |
| Bilia AB, Class A | &nbsp;&nbsp; 222136 | 2764844 |
| Billerud Aktiebolag | &nbsp;&nbsp; 782895 | 7883435 |
| BioArctic AB, Class B<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 129291 | 1937433 |
| BioGaia AB, Class B | &nbsp;&nbsp; 300094 | 3572815 |
| Biotage AB | &nbsp;&nbsp; 245621 | 4605451 |
| BoneSupport Holding AB<sup>(b)(d)</sup> | &nbsp;&nbsp; 194509 | 5481449 |
| Boozt AB<sup>(b)(d)</sup> | &nbsp;&nbsp; 203440 | 2082044 |
| Bravida Holding AB<sup>(d)</sup> | &nbsp;&nbsp; 708237 | 5732590 |
| Bufab AB | &nbsp;&nbsp; 95530 | 3983251 |
| Bure Equity AB | &nbsp;&nbsp; 191473 | 7173419 |
| Calliditas Therapeutics AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 124139 | 2390231 |
| Camurus AB<sup>(b)</sup> | &nbsp;&nbsp; 109875 | 6953523 |
| Castellum AB<sup>(b)</sup> | &nbsp;&nbsp; 1374204 | 17214252 |
| Catena AB | &nbsp;&nbsp; 129522 | 6593729 |
| Cibus Nordic Real Estate AB publ | &nbsp;&nbsp; 183468 | 2865679 |
| Clas Ohlson AB, Class B | &nbsp;&nbsp; 138240 | 2196052 |
| Cloetta AB, Class B | &nbsp;&nbsp; 601922 | 1291615 |
| Coor Service Management Holding AB<sup>(d)</sup> | &nbsp;&nbsp; 336046 | 1355266 |
| Corem Property Group AB, Class B | &nbsp;&nbsp; 2161119 | 1929901 |
| Creades AB, Class A | &nbsp;&nbsp; 181181 | 1314789 |
| Dios Fastigheter AB | &nbsp;&nbsp; 349950 | 2808941 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Dometic Group AB<sup>(d)</sup> | &nbsp;&nbsp; 1069603 | $7338568 |
| Electrolux AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 776004 | 6912183 |
| Electrolux Professional AB, Class B | &nbsp;&nbsp; 834757 | 5254528 |
| Elekta AB, Class B | &nbsp;&nbsp; 1302387 | 8176525 |
| Embracer Group AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 2652100 | 6785931 |
| Engcon AB<sup>(c)</sup> | &nbsp;&nbsp; 136019 | 1328539 |
| Fabege AB | &nbsp;&nbsp; 801907 | 6724494 |
| Fortnox AB | &nbsp;&nbsp; 1696912 | 10491236 |
| Granges AB | &nbsp;&nbsp; 351409 | 4289962 |
| Hemnet Group AB | &nbsp;&nbsp; 311908 | 11527769 |
| Hexatronic Group AB<sup>(b)(c)</sup> | &nbsp;&nbsp; 575363 | 3401118 |
| Hexpol AB | &nbsp;&nbsp; 922324 | 10315231 |
| HMS Networks AB | &nbsp;&nbsp; 106532 | 4144504 |
| Hufvudstaden AB, Class A | &nbsp;&nbsp; 391260 | 4741932 |
| Instalco AB | &nbsp;&nbsp; 744745 | 3547349 |
| Investment AB Oresund | &nbsp;&nbsp; 137171 | 1593577 |
| INVISIO AB | &nbsp;&nbsp; 132152 | 3088932 |
| Inwido AB | &nbsp;&nbsp; 184792 | 3049771 |
| JM AB | &nbsp;&nbsp; 213674 | 4165712 |
| Kindred Group PLC | &nbsp;&nbsp; 768945 | 9082989 |
| Kinnevik AB | &nbsp;&nbsp; 865480 | 7256637 |
| Lindab International AB | &nbsp;&nbsp; 259296 | 6415177 |
| Loomis AB, Class B | &nbsp;&nbsp; 249877 | 7962385 |
| Medicover AB, Class B | &nbsp;&nbsp; 228717 | 4126730 |
| MEKO AB | &nbsp;&nbsp; 126127 | 1323785 |
| Millicom International Cellular SA, SDR<sup>(b)</sup> | &nbsp;&nbsp; 449405 | 11187784 |
| MIPS AB | &nbsp;&nbsp; 93469 | 4654075 |
| Modern Times Group MTG AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 309404 | 2375901 |
| Munters Group AB<sup>(d)</sup> | &nbsp;&nbsp; 452468 | 9795927 |
| Mycronic AB | &nbsp;&nbsp; 275450 | 9658976 |
| NCAB Group AB | &nbsp;&nbsp; 632032 | 4623642 |
| NCC AB, Class B | &nbsp;&nbsp; 303668 | 4688555 |
| New Wave Group AB, Class B | &nbsp;&nbsp; 303713 | 3216276 |
| Nolato AB, Class B | &nbsp;&nbsp; 685731 | 3682432 |
| Nordnet AB publ | &nbsp;&nbsp; 484716 | 9902724 |
| Norion Bank AB<sup>(b)</sup> | &nbsp;&nbsp; 213402 | 808677 |
| NP3 Fastigheter AB | &nbsp;&nbsp; 96679 | 2311081 |
| Nyfosa AB | &nbsp;&nbsp; 505987 | 5178485 |
| OX2 AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 519365 | 2876774 |
| Pandox AB, Class B | &nbsp;&nbsp; 324598 | 6021705 |
| Paradox Interactive AB | &nbsp;&nbsp; 127494 | 1827431 |
| Peab AB, Class B | &nbsp;&nbsp; 600730 | 4480444 |
| Platzer Fastigheter Holding AB, Class B | &nbsp;&nbsp; 202895 | 1855929 |
| Ratos AB, Class B | &nbsp;&nbsp; 721462 | 2321356 |
| Rusta AB<sup>(b)</sup> | &nbsp;&nbsp; 195056 | 1352380 |
| Rvrc Holding AB<sup>(c)</sup> | &nbsp;&nbsp; 187690 | 774930 |
| Samhallsbyggnadsbolaget i Norden AB | &nbsp;&nbsp; 3566192 | 2260709 |
| Scandic Hotels Group AB<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 498286 | 3032650 |
| Sdiptech AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 101255 | 3100651 |
| Sectra AB, Class B | &nbsp;&nbsp; 479533 | 10918579 |
| Sinch AB<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 2380258 | 6451519 |
| SkiStar AB | &nbsp;&nbsp; 144519 | 2128205 |
| SSAB AB, Class A | &nbsp;&nbsp; 816801 | 4214035 |
| SSAB AB, Class B | &nbsp;&nbsp; 2271301 | 11512557 |
| Stillfront Group AB<sup>(b)(c)</sup> | &nbsp;&nbsp; 1629309 | 1362287 |
| Storskogen Group AB | &nbsp;&nbsp; 4808949 | 3904807 |
| Surgical Science Sweden AB<sup>(b)(c)</sup> | &nbsp;&nbsp; 127828 | 1552353 |
| Svolder AB | &nbsp;&nbsp; 307131 | 1825566 |
| Sweco AB, Class B | &nbsp;&nbsp; 694958 | 11231562 |
| SwedenCare AB | &nbsp;&nbsp; 212591 | 919678 |
| Synsam AB | &nbsp;&nbsp; 231510 | 1088509 |
| Thule Group AB<sup>(d)</sup> | &nbsp;&nbsp; 372522 | 10299244 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Troax Group AB | &nbsp;&nbsp; 135872 | $3086312 |
| Truecaller AB, Class B<sup>(c)</sup> | &nbsp;&nbsp; 767254 | 2430068 |
| VBG Group AB, Class B<sup>(c)</sup> | &nbsp;&nbsp; 58392 | 2326481 |
| Vimian Group AB<sup>(b)(c)</sup> | &nbsp;&nbsp; 616918 | 1947095 |
| Vitec Software Group AB, Class B | &nbsp;&nbsp; 110745 | 5793372 |
| Vitrolife AB | &nbsp;&nbsp; 262030 | 5635283 |
| Wallenstam AB, Class B | &nbsp;&nbsp; 1249948 | 6304961 |
| Wihlborgs Fastigheter AB | &nbsp;&nbsp; 963837 | 9762738 |
| Xvivo Perfusion AB<sup>(b)</sup> | &nbsp;&nbsp; 88041 | 4173180 |
| Yubico AB<sup>(b)</sup> | &nbsp;&nbsp; 147699 | 3733473 |
|  |  | 561469627 |
| **Switzerland — 4.3%** | **Switzerland — 4.3%** | **Switzerland — 4.3%** |
| Accelleron Industries AG, NVS | &nbsp;&nbsp; 329848 | 16322409 |
| Allreal Holding AG, Registered | &nbsp;&nbsp; 52348 | 9332411 |
| ALSO Holding AG, Registered | &nbsp;&nbsp; 22455 | 6808152 |
| ams-OSRAM AG<sup>(b)</sup> | &nbsp;&nbsp; 3517316 | 4722556 |
| Arbonia AG<sup>(b)</sup> | &nbsp;&nbsp; 184001 | 2662276 |
| Aryzta AG<sup>(b)</sup> | &nbsp;&nbsp; 3453244 | 6610943 |
| Autoneum Holding AG | &nbsp;&nbsp; 12137 | 1906470 |
| Basilea Pharmaceutica AG, Registered<sup>(b)</sup> | &nbsp;&nbsp; 44539 | 2017004 |
| Belimo Holding AG, Registered | &nbsp;&nbsp; 34437 | 20876401 |
| Bell Food Group AG, Registered | &nbsp;&nbsp; 7778 | 2202031 |
| Bossard Holding AG, Class A, Registered | &nbsp;&nbsp; 19938 | 5081800 |
| Bucher Industries AG, Registered | &nbsp;&nbsp; 23425 | 9490147 |
| Burckhardt Compression Holding AG | &nbsp;&nbsp; 10659 | 7426666 |
| Burkhalter Holding AG | &nbsp;&nbsp; 26521 | 2677027 |
| Bystronic AG, Registered<sup>(c)</sup> | &nbsp;&nbsp; 4665 | 1678103 |
| Cembra Money Bank AG | &nbsp;&nbsp; 104377 | 9114413 |
| Comet Holding AG, Registered | &nbsp;&nbsp; 25729 | 10309110 |
| COSMO Pharmaceuticals NV | &nbsp;&nbsp; 31930 | 2713732 |
| Daetwyler Holding AG, Bearer | &nbsp;&nbsp; 26998 | 5616445 |
| DKSH Holding AG | &nbsp;&nbsp; 124927 | 9792057 |
| DocMorris AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 41074 | 2080738 |
| dormakaba Holding AG | &nbsp;&nbsp; 11165 | 6762193 |
| Dottikon Es Holding AG<sup>(b)</sup> | &nbsp;&nbsp; 11379 | 3274137 |
| EFG International AG | &nbsp;&nbsp; 326381 | 4665109 |
| Emmi AG, Registered | &nbsp;&nbsp; 7522 | 7909776 |
| Flughafen Zurich AG, Registered | &nbsp;&nbsp; 69906 | 16178599 |
| Forbo Holding AG, Registered | &nbsp;&nbsp; 3383 | 3644036 |
| Galenica AG<sup>(d)</sup> | &nbsp;&nbsp; 177059 | 15400272 |
| Georg Fischer AG | &nbsp;&nbsp; 273007 | 20059457 |
| Huber + Suhner AG, Registered | &nbsp;&nbsp; 50922 | 4458962 |
| Implenia AG, Registered | &nbsp;&nbsp; 45747 | 1657866 |
| Inficon Holding AG, Registered | &nbsp;&nbsp; 6014 | 8967297 |
| Interroll Holding AG, Registered | &nbsp;&nbsp; 2399 | 7751665 |
| Intershop Holding AG | &nbsp;&nbsp; 19961 | 2663628 |
| Kardex Holding AG, Registered | &nbsp;&nbsp; 21900 | 6669428 |
| Komax Holding AG, Registered<sup>(c)</sup> | &nbsp;&nbsp; 13677 | 2078673 |
| Landis+Gyr Group AG | &nbsp;&nbsp; 85753 | 7767600 |
| LEM Holding SA, Registered | &nbsp;&nbsp; 1627 | 2376225 |
| Leonteq AG | &nbsp;&nbsp; 31680 | 958250 |
| Medacta Group SA<sup>(d)</sup> | &nbsp;&nbsp; 24854 | 3567763 |
| Medmix AG<sup>(d)</sup> | &nbsp;&nbsp; 84091 | 1161131 |
| Meier Tobler Group AG | &nbsp;&nbsp; 17055 | 547672 |
| Metall Zug AG, Class B, Registered | &nbsp;&nbsp; 659 | 957249 |
| Mobilezone Holding AG, Registered | &nbsp;&nbsp; 146626 | 2391054 |
| Mobimo Holding AG, Registered | &nbsp;&nbsp; 25301 | 7577847 |
| Montana Aerospace AG<sup>(b)(d)</sup> | &nbsp;&nbsp; 94555 | 2011870 |
| OC Oerlikon Corp. AG, Registered | &nbsp;&nbsp; 667757 | 3756232 |
| Orior AG | &nbsp;&nbsp; 20206 | 1278353 |
| PolyPeptide Group AG<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 53151 | 1775808 |
| PSP Swiss Property AG, Registered | &nbsp;&nbsp; 162468 | 21710755 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Rieter Holding AG, Registered | &nbsp;&nbsp; 8621 | $1020686 |
| Schweiter Technologies AG, NVS | &nbsp;&nbsp; 3368 | 1580878 |
| Sensirion Holding AG<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 32899 | 3086321 |
| SFS Group AG | &nbsp;&nbsp; 61376 | 8963176 |
| Siegfried Holding AG, Registered | &nbsp;&nbsp; 14136 | 16476256 |
| SKAN Group AG | &nbsp;&nbsp; 38077 | 3440053 |
| Softwareone Holding AG | &nbsp;&nbsp; 416599 | 8317587 |
| Stadler Rail AG | &nbsp;&nbsp; 194069 | 5939536 |
| Sulzer AG, Registered | &nbsp;&nbsp; 65921 | 9800329 |
| Swissquote Group Holding SA, Registered | &nbsp;&nbsp; 37207 | 11867074 |
| Tecan Group AG, Registered | &nbsp;&nbsp; 45011 | 16807836 |
| TX Group AG | &nbsp;&nbsp; 10768 | 1982465 |
| u-blox Holding AG | &nbsp;&nbsp; 23834 | 2180463 |
| Valiant Holding AG, Registered | &nbsp;&nbsp; 55265 | 6277323 |
| Vetropack Holding AG, Class A, Registered | &nbsp;&nbsp; 44518 | 1691456 |
| Vontobel Holding AG, Registered | &nbsp;&nbsp; 98503 | 6454152 |
| Ypsomed Holding AG, Registered | &nbsp;&nbsp; 14479 | 6653985 |
| Zehnder Group AG, Registered | &nbsp;&nbsp; 31730 | 1998489 |
|  |  | 423957863 |
| **United Kingdom — 15.6%** | **United Kingdom — 15.6%** | **United Kingdom — 15.6%** |
| 4imprint Group PLC | &nbsp;&nbsp; 98197 | 7667669 |
| AB Dynamics PLC | &nbsp;&nbsp; 61067 | 1546543 |
| abrdn PLC | &nbsp;&nbsp; 6421968 | 14044761 |
| Advanced Medical Solutions Group PLC | &nbsp;&nbsp; 783439 | 2477590 |
| AG Barr PLC | &nbsp;&nbsp; 330633 | 2739169 |
| Airtel Africa PLC<sup>(d)</sup> | &nbsp;&nbsp; 3267004 | 4789858 |
| AJ Bell PLC | &nbsp;&nbsp; 1095554 | 6464509 |
| Alfa Financial Software Holdings PLC<sup>(d)</sup> | &nbsp;&nbsp; 337545 | 811451 |
| Alpha Financial Markets Consulting PLC | &nbsp;&nbsp; 397209 | 2542948 |
| Alpha Group International PLC | &nbsp;&nbsp; 122229 | 4069707 |
| Alphawave IP Group PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 1144923 | 2289705 |
| AO World PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 1504877 | 2267345 |
| Ascential PLC | &nbsp;&nbsp; 723847 | 5313393 |
| Ashmore Group PLC | &nbsp;&nbsp; 1640301 | 3640022 |
| Ashtead Technology Holdings PLC | &nbsp;&nbsp; 279461 | 3121980 |
| ASOS PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 173553 | 807662 |
| Assura PLC | &nbsp;&nbsp; 10659533 | 5593974 |
| Aston Martin Lagonda Global Holdings PLC<sup>(b)(c)(d)</sup> | &nbsp;&nbsp; 711092 | 1425586 |
| Atalaya Mining PLC | &nbsp;&nbsp; 371092 | 1812818 |
| Auction Technology Group PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 338937 | 2213413 |
| B&M European Value Retail SA | &nbsp;&nbsp; 3504947 | 21106704 |
| Babcock International Group PLC | &nbsp;&nbsp; 890628 | 6092229 |
| Balanced Commercial Property Trust Ltd. | &nbsp;&nbsp; 2503003 | 2786560 |
| Balfour Beatty PLC | &nbsp;&nbsp; 1843711 | 9983212 |
| Bank of Georgia Group PLC | &nbsp;&nbsp; 119743 | 7039597 |
| Beazley PLC | &nbsp;&nbsp; 2347700 | 20635119 |
| Bellway PLC | &nbsp;&nbsp; 408863 | 15012591 |
| Big Yellow Group PLC | &nbsp;&nbsp; 655419 | 10192689 |
| Bodycote PLC | &nbsp;&nbsp; 663370 | 5933625 |
| boohoo Group PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 2414600 | 1002621 |
| Breedon Group PLC | &nbsp;&nbsp; 993093 | 5524332 |
| Bridgepoint Group PLC<sup>(d)</sup> | &nbsp;&nbsp; 857901 | 3233940 |
| British Land Co. PLC (The) | &nbsp;&nbsp; 3082602 | 16338710 |
| Britvic PLC | &nbsp;&nbsp; 833953 | 13618734 |
| Burford Capital Ltd. | &nbsp;&nbsp; 689100 | 9718024 |
| Bytes Technology Group PLC | &nbsp;&nbsp; 804329 | 5240345 |
| C&C Group PLC | &nbsp;&nbsp; 1347886 | 2772440 |
| Carnival PLC<sup>(b)</sup> | &nbsp;&nbsp; 477952 | 7343536 |
| Centamin PLC | &nbsp;&nbsp; 4077040 | 6658964 |
| Central Asia Metals PLC | &nbsp;&nbsp; 631983 | 1607018 |
| Chemring Group PLC | &nbsp;&nbsp; 967861 | 5151129 |
| Clarkson PLC | &nbsp;&nbsp; 102205 | 5958521 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Close Brothers Group PLC | &nbsp;&nbsp; 532167 | $3501222 |
| CLS Holdings PLC | &nbsp;&nbsp; 613878 | 723457 |
| CMC Markets PLC<sup>(d)</sup> | &nbsp;&nbsp; 371892 | 1594416 |
| Coats Group PLC | &nbsp;&nbsp; 5593468 | 6435663 |
| Computacenter PLC | &nbsp;&nbsp; 298623 | 10340134 |
| ConvaTec Group PLC<sup>(d)</sup> | &nbsp;&nbsp; 5705152 | 17189495 |
| Craneware PLC | &nbsp;&nbsp; 102249 | 3023263 |
| Cranswick PLC | &nbsp;&nbsp; 188862 | 11569020 |
| Crest Nicholson Holdings PLC | &nbsp;&nbsp; 861191 | 2935726 |
| Currys PLC<sup>(b)</sup> | &nbsp;&nbsp; 3210578 | 3357607 |
| Custodian Property Income REIT PLC | &nbsp;&nbsp; 1394353 | 1380233 |
| CVS Group PLC | &nbsp;&nbsp; 249743 | 3660052 |
| Darktrace PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 1473790 | 11208378 |
| Deliveroo PLC, Class A<sup>(b)(d)</sup> | &nbsp;&nbsp; 3607062 | 6116282 |
| Derwent London PLC | &nbsp;&nbsp; 335357 | 9907098 |
| Diploma PLC | &nbsp;&nbsp; 466769 | 26687618 |
| Direct Line Insurance Group PLC | &nbsp;&nbsp; 4609104 | 11181884 |
| DiscoverIE Group PLC | &nbsp;&nbsp; 335303 | 2918393 |
| Diversified Energy Co. PLC | &nbsp;&nbsp; 166900 | 2757303 |
| Domino's Pizza Group PLC | &nbsp;&nbsp; 1267738 | 5271420 |
| Dowlais Group PLC | &nbsp;&nbsp; 4915887 | 4049758 |
| Dr. Martens PLC | &nbsp;&nbsp; 2008197 | 1836035 |
| Drax Group PLC | &nbsp;&nbsp; 1343411 | 11237123 |
| DS Smith PLC | &nbsp;&nbsp; 4804390 | 28086705 |
| Dunelm Group PLC | &nbsp;&nbsp; 427877 | 6786555 |
| easyJet PLC | &nbsp;&nbsp; 1040066 | 6025364 |
| Elementis PLC | &nbsp;&nbsp; 2066918 | 4246089 |
| Empiric Student Property PLC | &nbsp;&nbsp; 2110697 | 2615445 |
| Energean PLC | &nbsp;&nbsp; 550728 | 7072805 |
| Essentra PLC | &nbsp;&nbsp; 1027240 | 2258172 |
| Evoke PLC<sup>(b)</sup> | &nbsp;&nbsp; 1269607 | 963781 |
| FD Technologies PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 82881 | 1625918 |
| FDM Group Holdings PLC | &nbsp;&nbsp; 310588 | 1698921 |
| Fevertree Drinks PLC | &nbsp;&nbsp; 374511 | 4441401 |
| Finablr PLC<sup>(a)(b)(d)</sup> | &nbsp;&nbsp; 1080679 | 14 |
| Firstgroup PLC | &nbsp;&nbsp; 2212601 | 4989095 |
| Forterra PLC<sup>(d)</sup> | &nbsp;&nbsp; 743746 | 1674228 |
| Frasers Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 381747 | 4406049 |
| Future PLC | &nbsp;&nbsp; 364520 | 5246313 |
| Games Workshop Group PLC | &nbsp;&nbsp; 114261 | 15154893 |
| Gamma Communications PLC | &nbsp;&nbsp; 322230 | 6155649 |
| GB Group PLC | &nbsp;&nbsp; 892116 | 3993366 |
| Genuit Group PLC | &nbsp;&nbsp; 881309 | 5791428 |
| Genus PLC | &nbsp;&nbsp; 235454 | 5517774 |
| Grafton Group PLC | &nbsp;&nbsp; 630653 | 8785808 |
| Grainger PLC | &nbsp;&nbsp; 2494012 | 7746613 |
| Great Portland Estates PLC | &nbsp;&nbsp; 1169403 | 5276800 |
| Greatland Gold PLC<sup>(b)</sup> | &nbsp;&nbsp; 16432095 | 1497712 |
| Greencore Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 1664073 | 3854928 |
| Greggs PLC | &nbsp;&nbsp; 358085 | 14420648 |
| Halfords Group PLC | &nbsp;&nbsp; 772643 | 1535598 |
| Hammerson PLC | &nbsp;&nbsp; 14345296 | 5314869 |
| Harbour Energy PLC | &nbsp;&nbsp; 2014044 | 8100660 |
| Hays PLC | &nbsp;&nbsp; 5472026 | 6631702 |
| Helios Towers PLC<sup>(b)</sup> | &nbsp;&nbsp; 2600900 | 4216826 |
| Hill & Smith PLC | &nbsp;&nbsp; 284443 | 8408135 |
| Hilton Food Group PLC | &nbsp;&nbsp; 268257 | 3220972 |
| Hiscox Ltd. | &nbsp;&nbsp; 1219598 | 19916949 |
| Hochschild Mining PLC<sup>(b)</sup> | &nbsp;&nbsp; 1184237 | 2763737 |
| Hollywood Bowl Group PLC | &nbsp;&nbsp; 584264 | 2497410 |
| Home REIT PLC<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 3524118 | 1120511 |
| Howden Joinery Group PLC | &nbsp;&nbsp; 1931627 | 23353736 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Hunting PLC | &nbsp;&nbsp; 526997 | $3094780 |
| Ibstock PLC<sup>(d)</sup> | &nbsp;&nbsp; 1414283 | 3338090 |
| IG Group Holdings PLC | &nbsp;&nbsp; 1296830 | 15661432 |
| IMI PLC | &nbsp;&nbsp; 920008 | 22408558 |
| Impact Healthcare REIT PLC, Class B | &nbsp;&nbsp; 1130327 | 1271511 |
| Impax Asset Management Group PLC | &nbsp;&nbsp; 351893 | 1838909 |
| Inchcape PLC | &nbsp;&nbsp; 1291331 | 14043797 |
| Indivior PLC, NVS<sup>(b)</sup> | &nbsp;&nbsp; 405694 | 5572682 |
| IntegraFin Holdings PLC | &nbsp;&nbsp; 1005625 | 4977209 |
| Intermediate Capital Group PLC | &nbsp;&nbsp; 1012341 | 28575077 |
| International Distributions Services PLC<sup>(b)</sup> | &nbsp;&nbsp; 2331127 | 10342988 |
| International Workplace Group PLC | &nbsp;&nbsp; 2675431 | 5940258 |
| Investec PLC | &nbsp;&nbsp; 2271232 | 17983682 |
| IP Group PLC | &nbsp;&nbsp; 3599970 | 1929852 |
| ITM Power PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 1643622 | 1104913 |
| ITV PLC | &nbsp;&nbsp; 12573908 | 12935990 |
| J D Wetherspoon PLC<sup>(b)</sup> | &nbsp;&nbsp; 308846 | 2963882 |
| JET2 PLC | &nbsp;&nbsp; 595585 | 10933613 |
| John Wood Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 2291595 | 6009760 |
| Johnson Matthey PLC | &nbsp;&nbsp; 635855 | 13397572 |
| Johnson Service Group PLC | &nbsp;&nbsp; 1477300 | 3091806 |
| JTC PLC<sup>(d)</sup> | &nbsp;&nbsp; 554796 | 7499311 |
| Judges Scientific PLC | &nbsp;&nbsp; 21064 | 2680804 |
| Jupiter Fund Management PLC | &nbsp;&nbsp; 1608196 | 1818469 |
| Just Group PLC | &nbsp;&nbsp; 3696148 | 5736207 |
| Kainos Group PLC | &nbsp;&nbsp; 309781 | 4372665 |
| Keller Group PLC | &nbsp;&nbsp; 257424 | 4930879 |
| Keywords Studios PLC | &nbsp;&nbsp; 275985 | 8472447 |
| Kier Group PLC | &nbsp;&nbsp; 1552875 | 3231942 |
| Lancashire Holdings Ltd. | &nbsp;&nbsp; 846092 | 6895979 |
| Learning Technologies Group PLC | &nbsp;&nbsp; 2059014 | 1905816 |
| Liontrust Asset Management PLC | &nbsp;&nbsp; 218937 | 1877674 |
| LondonMetric Property PLC | &nbsp;&nbsp; 7169087 | 18535499 |
| Man Group PLC/Jersey | &nbsp;&nbsp; 4228368 | 13312105 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 7105458 | 30010263 |
| Marlowe PLC | &nbsp;&nbsp; 299577 | 1694534 |
| Marshalls PLC | &nbsp;&nbsp; 810376 | 3625391 |
| Me Group International PLC | &nbsp;&nbsp; 643088 | 1597227 |
| Mitchells & Butlers PLC<sup>(b)</sup> | &nbsp;&nbsp; 963310 | 3858951 |
| Mitie Group PLC | &nbsp;&nbsp; 4525122 | 7050534 |
| Mobico Group PLC | &nbsp;&nbsp; 1767180 | 1280220 |
| Molten Ventures PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 568302 | 2731369 |
| MONY Group PLC | &nbsp;&nbsp; 1683300 | 5138519 |
| Moonpig Group PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 1143622 | 3212926 |
| Morgan Advanced Materials PLC | &nbsp;&nbsp; 1016766 | 4455019 |
| Morgan Sindall Group PLC | &nbsp;&nbsp; 147987 | 5466131 |
| NCC Group PLC | &nbsp;&nbsp; 1083718 | 2056016 |
| Network International Holdings PLC<sup>(b)(d)</sup> | &nbsp;&nbsp; 1665847 | 8394798 |
| Next 15 Group PLC | &nbsp;&nbsp; 301703 | 3308398 |
| Ninety One PLC | &nbsp;&nbsp; 1055006 | 2349546 |
| Ocado Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 1884996 | 9856989 |
| OSB Group PLC | &nbsp;&nbsp; 1381606 | 9141383 |
| Oxford Instruments PLC | &nbsp;&nbsp; 187161 | 6039182 |
| Oxford Nanopore Technologies PLC<sup>(b)</sup> | &nbsp;&nbsp; 1989145 | 3089032 |
| Pagegroup PLC | &nbsp;&nbsp; 1096272 | 6039603 |
| Pan African Resources PLC | &nbsp;&nbsp; 6722063 | 2549257 |
| Paragon Banking Group PLC | &nbsp;&nbsp; 732377 | 7567865 |
| Penno Group PLC | &nbsp;&nbsp; 1017529 | 8135006 |
| Pets at Home Group PLC | &nbsp;&nbsp; 1542803 | 6084920 |
| Picton Property Income Ltd. | &nbsp;&nbsp; 1855844 | 1750941 |
| Playtech PLC<sup>(b)</sup> | &nbsp;&nbsp; 864482 | 6279043 |
| Plus500 Ltd. | &nbsp;&nbsp; 276936 | 8352116 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Polar Capital Holdings PLC | &nbsp;&nbsp; 305880 | $2371427 |
| Premier Foods PLC | &nbsp;&nbsp; 2308129 | 5340989 |
| Primary Health Properties PLC | &nbsp;&nbsp; 4802750 | 5720887 |
| PRS REIT PLC (The) | &nbsp;&nbsp; 1906430 | 2009666 |
| PZ Cussons PLC | &nbsp;&nbsp; 854815 | 1162051 |
| QinetiQ Group PLC | &nbsp;&nbsp; 1794856 | 11150296 |
| Quilter PLC<sup>(d)</sup> | &nbsp;&nbsp; 4838264 | 8315915 |
| Rank Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 733992 | 669944 |
| Rathbones Group PLC | &nbsp;&nbsp; 219820 | 5441913 |
| Redrow PLC | &nbsp;&nbsp; 915075 | 8778784 |
| Renew Holdings PLC | &nbsp;&nbsp; 287512 | 4026641 |
| Renewi PLC | &nbsp;&nbsp; 252994 | 2195294 |
| Renishaw PLC | &nbsp;&nbsp; 127280 | 6196454 |
| RHI Magnesita NV | &nbsp;&nbsp; 66652 | 3145618 |
| Rightmove PLC | &nbsp;&nbsp; 2789522 | 20725732 |
| Rotork PLC | &nbsp;&nbsp; 2975198 | 13846791 |
| RS Group PLC | &nbsp;&nbsp; 1647862 | 17312127 |
| RWS Holdings PLC | &nbsp;&nbsp; 1072170 | 2628731 |
| Safestore Holdings PLC | &nbsp;&nbsp; 762960 | 7928218 |
| Savills PLC | &nbsp;&nbsp; 491799 | 8067285 |
| Serco Group PLC | &nbsp;&nbsp; 3773318 | 9271965 |
| Serica Energy PLC | &nbsp;&nbsp; 965598 | 1640012 |
| Shaftesbury Capital PLC | &nbsp;&nbsp; 5402590 | 10577694 |
| SIG PLC<sup>(b)</sup> | &nbsp;&nbsp; 2374101 | 747746 |
| Sirius Real Estate Ltd. | &nbsp;&nbsp; 5319105 | 6484515 |
| Softcat PLC | &nbsp;&nbsp; 450692 | 9428891 |
| Spectris PLC | &nbsp;&nbsp; 352385 | 13823094 |
| Spire Healthcare Group PLC<sup>(d)</sup> | &nbsp;&nbsp; 976878 | 3216489 |
| Spirent Communications PLC | &nbsp;&nbsp; 2039064 | 4554508 |
| SSP Group PLC | &nbsp;&nbsp; 2839819 | 6678441 |
| St. James's Place PLC | &nbsp;&nbsp; 1918200 | 16896976 |
| SThree PLC | &nbsp;&nbsp; 461703 | 2436907 |
| Supermarket Income REIT PLC | &nbsp;&nbsp; 4414256 | 4251550 |
| Target Healthcare REIT PLC | &nbsp;&nbsp; 2193760 | 2299856 |
| Tate & Lyle PLC | &nbsp;&nbsp; 1401028 | 11842180 |
| TBC Bank Group PLC | &nbsp;&nbsp; 146296 | 5830197 |
| Team17 Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 410647 | 1530931 |
| Telecom Plus PLC | &nbsp;&nbsp; 253336 | 6190923 |
| THG PLC, Class B<sup>(b)(c)</sup> | &nbsp;&nbsp; 2547505 | 2180246 |
| TI Fluid Systems PLC<sup>(d)</sup> | &nbsp;&nbsp; 1262983 | 2138890 |
| TP ICAP Group PLC | &nbsp;&nbsp; 2709733 | 7715948 |
| Trainline PLC<sup>(b)(d)</sup> | &nbsp;&nbsp; 1573990 | 6891848 |
| Travis Perkins PLC | &nbsp;&nbsp; 733015 | 9007241 |
| Tritax Big Box REIT PLC | &nbsp;&nbsp; 7816277 | 16614064 |
| Trustpilot Group PLC<sup>(b)(d)</sup> | &nbsp;&nbsp; 1159577 | 3108098 |
| Tullow Oil PLC<sup>(b)</sup> | &nbsp;&nbsp; 4188443 | 1648720 |
| UNITE Group PLC (The) | &nbsp;&nbsp; 1359456 | 16663173 |
| Urban Logistics REIT PLC | &nbsp;&nbsp; 1679231 | 2684356 |
| Vesuvius PLC | &nbsp;&nbsp; 742394 | 4605761 |
| Victrex PLC | &nbsp;&nbsp; 297470 | 4206539 |
| Virgin Money U.K. PLC | &nbsp;&nbsp; 3838012 | 10613747 |
| Vistry Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 1123046 | 20002952 |
| Volex PLC | &nbsp;&nbsp; 467041 | 2130011 |
| Volution Group PLC | &nbsp;&nbsp; 704239 | 4959613 |
| Warehouse REIT PLC | &nbsp;&nbsp; 1466830 | 1618100 |
| Watches of Switzerland Group PLC<sup>(b)(d)</sup> | &nbsp;&nbsp; 829358 | 4349300 |
| Weir Group PLC (The) | &nbsp;&nbsp; 899870 | 23490927 |
| WH Smith PLC | &nbsp;&nbsp; 449974 | 7656283 |
| Wickes Group PLC | &nbsp;&nbsp; 864557 | 1678262 |
| Workspace Group PLC | &nbsp;&nbsp; 510982 | 4028463 |
| Yellow Cake PLC<sup>(b)(d)</sup> | &nbsp;&nbsp; 763937 | 5467152 |
| YouGov PLC | &nbsp;&nbsp; 372686 | 2213472 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Young & Co's Brewery PLC, Series A, Class A | &nbsp;&nbsp; 103386 | $1326421 |
| Zigup PLC | &nbsp;&nbsp; 782200 | 4269822 |
|  |  | 1520694286 |
| **Total Common Stocks — 99.0%** <br>**(Cost: $10,066,594,904)** | **Total Common Stocks — 99.0%** <br>**(Cost: $10,066,594,904)** | 9648580989 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.3%** | **Germany — 0.3%** | **Germany — 0.3%** |
| Draegerwerk AG & Co. KGaA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 30473 | 1602555 |
| Einhell Germany AG, Preference Shares, NVS | &nbsp;&nbsp; 5500 | 1059523 |
| Fuchs Petrolub SE, Preference Shares, NVS | &nbsp;&nbsp; 244717 | 10633231 |
| Jungheinrich AG, Preference Shares, NVS | &nbsp;&nbsp; 169450 | 5363918 |
| Schaeffler AG, Preference Shares, NVS | &nbsp;&nbsp; 438201 | 2400024 |
| Sixt SE, Preference Shares, NVS | &nbsp;&nbsp; 58499 | 3243878 |
| STO SE & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 9795 | 1311082 |
|  |  | 25614211 |
| **Italy — 0.0%** | **Italy — 0.0%** | **Italy — 0.0%** |
| Danieli & C Officine Meccaniche SpA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 142843 | 4117956 |
| **Total Preferred Stocks — 0.3%** <br>**(Cost: $30,238,664)** | **Total Preferred Stocks — 0.3%** <br>**(Cost: $30,238,664)** | 29732167 |
| **Warrants** | **Warrants** | **Warrants** |
| **Italy — 0.0%** | **Italy — 0.0%** | **Italy — 0.0%** |
| Webuild SpA (Issued/Exercisable 08/02/21, <br> 1 Share for 1 Warrant, Expires 08/31/30, Strike <br> Price EUR 0.001)<sup>(c)</sup><br>| &nbsp;&nbsp; 96743 | 1 |
| **Spain — 0.0%** | **Spain — 0.0%** | **Spain — 0.0%** |
| Abengoa SA (Issued 03/31/17, Exercisable <br> 06/30/17, 1 Share for 1 Warrant, Expires <br> 03/31/25, Strike Price EUR 0.001)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp; 3096556 | 33 |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** | 34 |
| **Total Long-Term Investments — 99.3%** <br>**(Cost: $10,096,833,568)** | **Total Long-Term Investments — 99.3%** <br>**(Cost: $10,096,833,568)** | 9678313190 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 3.4%** | **Money Market Funds — 3.4%** | **Money Market Funds — 3.4%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 330313778 | 330445904 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 4530000 | 4530000 |
| **Total Short-Term Securities — 3.4%** <br>**(Cost: $334,850,224)** | **Total Short-Term Securities — 3.4%** <br>**(Cost: $334,850,224)** | 334975904 |
| **Total Investments — 102.7%** <br>**(Cost: $10,431,683,792)** | **Total Investments — 102.7%** <br>**(Cost: $10,431,683,792)** | 10013289094 |
| **Liabilities in Excess of Other Assets — (2.7)%** | **Liabilities in Excess of Other Assets — (2.7)%** | (261947516)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $9751341578 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. <br> <sup>(b)</sup> Non-income producing security. <br> <sup>(c)</sup> All or a portion of this security is on loan.

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(d)</sup> 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. 

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, <br> SL Agency Shares<br>| $422283531 | $— | &nbsp;&nbsp; $(91882248 )<sup>(a)</sup><br>| &nbsp;&nbsp; $38085 | $6536 | $330445904 | 330313778 | $8823241 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 3300000 | 1230000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 4530000 | 4530000 | 299989 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $38085 | $6536 | $334975904 |  | $9123230 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 147 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $27170 | &nbsp;&nbsp; $(290986)<br>|
| Euro STOXX 50 Index | &nbsp;&nbsp; 393 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 20841 | &nbsp;&nbsp; (48347)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 21507 | &nbsp;&nbsp; 439255 |
|  |  |  |  | &nbsp;&nbsp; $99922 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $439255 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $439255 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $339333 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $339333 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Small-Cap ETF**

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $8257366 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $8257366 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1580609)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1580609)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $77212560 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $939055493 | &nbsp;&nbsp; $8706913430 | &nbsp;&nbsp; $2612066 | &nbsp;&nbsp; $9648580989 |
| Preferred Stocks | &nbsp;&nbsp; 1059523 | &nbsp;&nbsp; 28672644 | &nbsp;&nbsp; — | &nbsp;&nbsp; 29732167 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 34 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 334975904 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 334975904 |
|  | &nbsp;&nbsp; $1275090920 | &nbsp;&nbsp; $8735586075 | &nbsp;&nbsp; $2612099 | &nbsp;&nbsp; $10013289094 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $439255 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $439255 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (339333)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (339333)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $99922 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $99922 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Statements of Assets and Liabilities

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>Currency <br> Hedged <br> MSCI ACWI <br> ex U.S. ETF <br>| &nbsp;&nbsp; iShares <br>Currency Hedged <br> MSCI EAFE ETF <br>| &nbsp;&nbsp; iShares <br>Currency <br> Hedged <br> MSCI EAFE <br> Small-Cap <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI ACWI ex <br> U.S. ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $— | $— | $— | $4557438377 |
| Investments, at value—affiliated<sup>(c)</sup> | 332571164 | 8115604798 | 151135077 | 14947642 |
| Cash | 2004 | 7887 | 6404 |  |
| Cash pledged for futures contracts |  |  |  | 222000 |
| Foreign currency, at value<sup>(d)</sup> |  |  |  | 6064290 |
| Receivables: |  |  |  |  |
| Investments sold | 2544852 | 128221916 | 3448703 | 72178 |
| Securities lending income—affiliated | 25866 | 346301 | 51 | 8824 |
| Capital shares sold |  | 16 |  |  |
| Dividends—unaffiliated |  |  |  | 7349320 |
| Dividends—affiliated | 2653 | 94622 | 1679 | 26869 |
| Tax reclaims |  |  |  | 7146586 |
| Variation margin on futures contracts |  |  |  | 120770 |
| Unrealized appreciation on forward foreign currency exchange contracts | 5013504 | 30703082 | 1030050 |  |
| Total assets | 340160043 | 8274978622 | 155621964 | 4593396856 |
| **LIABILITIES** |  |  |  |  |
| Bank overdraft |  |  |  | 78321 |
| Collateral on securities loaned, at value | 102846950 | 1447704900 |  | 10822398 |
| Payables: |  |  |  |  |
| Deferred foreign capital gain tax |  |  |  | 14855379 |
| Investment advisory fees | 4395 | 113625 | 2919 | 1230718 |
| Professional fees |  |  |  | 17755 |
| Unrealized depreciation on forward foreign currency exchange contracts | 7750803 | 166991883 | 4713722 |  |
| Total liabilities | 110602148 | 1614810408 | 4716641 | 27004571 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $229557895 | $6660168214 | $150905323 | $4566392285 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $207277820 | $6283635520 | $152610832 | $4693629917 |
| Accumulated earnings (loss) | 22280075 | 376532694 | (1705509) | (127237632) |
| NET ASSETS | $229557895 | $6660168214 | $150905323 | $4566392285 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 7150000 | 189650000 | 4670000 | 84000000 |
| Net asset value | $32.11 | $35.12 | $32.31 | $54.36 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $— | $— | $— | $3964049570 |
| <sup>(b)</sup> Securities loaned, at value | $102431788 | $1436266244 | $— | $9858643 |
| <sup>(c)</sup> Investments, at cost—affiliated | $302802624 | $7525438755 | $140283492 | $14937709 |
| <sup>(d)</sup> Foreign currency, at cost | $— | $— | $— | $6072997 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Assets and Liabilities (continued)

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>MSCI EAFE ETF <br>| &nbsp;&nbsp; iShares <br>MSCI EAFE <br> Small-Cap ETF <br>|
| **ASSETS** |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $55546267168 | $9678313190 |
| Investments, at value—affiliated<sup>(c)</sup> | 213691245 | 334975904 |
| Cash | 3008 | 8406 |
| Foreign currency collateral pledged for futures contracts<sup>(d)</sup> | 14191860 | 3967370 |
| Foreign currency, at value<sup>(e)</sup> | 58220286 | 15804107 |
| Receivables: |  |  |
| Investments sold |  | 27891894 |
| Securities lending income—affiliated | 35601 | 499259 |
| Capital shares sold | 1865435 | 10662 |
| Dividends—unaffiliated | 35778459 | 13508933 |
| Dividends—affiliated | 134042 | 9772 |
| Tax reclaims | 114530565 | 14454592 |
| Variation margin on futures contracts | 1632195 | 481193 |
| Foreign withholding tax claims | 46416060 |  |
| Total assets | 56032765924 | 10089925282 |
| **LIABILITIES** |  |  |
| Collateral on securities loaned, at value | 145304497 | 330286021 |
| Payables: |  |  |
| Investments purchased | 1865435 | 4737938 |
| Capital shares redeemed |  | 204973 |
| Deferred foreign capital gain tax |  | 5087 |
| Investment advisory fees | 14620007 | 3192043 |
| IRS compliance fee for foreign withholding tax claims | 101635502 |  |
| Professional fees | 4985489 | 157642 |
| Total liabilities | 268410930 | 338583704 |
| **Commitments and contingent liabilities** |  |  |
| NET ASSETS | $55764354994 | $9751341578 |
| **NET ASSETS CONSIST OF** |  |  |
| Paid-in capital | $54392636490 | $11116858362 |
| Accumulated earnings (loss) | 1371718504 | (1365516784) |
| NET ASSETS | $55764354994 | $9751341578 |
| **NET ASSET VALUE** |  |  |
| Shares outstanding | 694200000 | 150200000 |
| Net asset value | $80.33 | $64.92 |
| Shares authorized | Unlimited | Unlimited |
| Par value |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $44471479414 | $10096833568 |
| <sup>(b)</sup> Securities loaned, at value | $135611956 | $310835961 |
| <sup>(c)</sup> Investments, at cost—affiliated | $213620432 | $334850224 |
| <sup>(d)</sup> Foreign currency collateral pledged, at cost | $14735215 | $3957157 |
| <sup>(e)</sup> Foreign currency, at cost | $57638515 | $15359286 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Currency <br> Hedged <br> MSCI ACWI <br> ex U.S. ETF <br>| &nbsp;&nbsp; iShares <br>Currency <br> Hedged <br> MSCI EAFE <br> ETF <br>| &nbsp;&nbsp; iShares <br>Currency <br> Hedged <br> MSCI EAFE <br> Small-Cap <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI ACWI <br> ex U.S. ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $142416348 |
| Dividends—affiliated | &nbsp;&nbsp; 5885706 | &nbsp;&nbsp;&nbsp; 156926768 | &nbsp;&nbsp;&nbsp; 3396956 | &nbsp;&nbsp;&nbsp; 382751 |
| Interest—unaffiliated | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 62539 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 282029 | &nbsp;&nbsp;&nbsp; 4232466 | &nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp; 236072 |
| Other income—unaffiliated | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 97501 |
| Foreign taxes withheld | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (12659947)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 486300 |
| Other foreign taxes | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (25243)<br>|
| Total investment income | &nbsp;&nbsp; 6167735 | &nbsp;&nbsp;&nbsp; 161159234 | &nbsp;&nbsp;&nbsp; 3397075 | &nbsp;&nbsp;&nbsp; 130996321 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 752578 | &nbsp;&nbsp;&nbsp; 18260278 | &nbsp;&nbsp;&nbsp; 496275 | &nbsp;&nbsp;&nbsp; 14293669 |
| Interest expense | &nbsp;&nbsp; 1623 | &nbsp;&nbsp;&nbsp; 44763 | &nbsp;&nbsp;&nbsp; 847 | &nbsp;&nbsp;&nbsp; 20000 |
| Commitment costs | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37154 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 38715 |
| Professional | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 66833 |
| Total expenses | &nbsp;&nbsp; 754201 | &nbsp;&nbsp;&nbsp; 18342195 | &nbsp;&nbsp;&nbsp; 497122 | &nbsp;&nbsp;&nbsp; 14419217 |
| Less: |  |  |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; (694787)<br>| &nbsp;&nbsp;&nbsp; (16900594)<br>| &nbsp;&nbsp;&nbsp; (462498)<br>| &nbsp;&nbsp;&nbsp; — |
| Total expenses after fees waived | &nbsp;&nbsp; 59414 | &nbsp;&nbsp;&nbsp; 1441601 | &nbsp;&nbsp;&nbsp; 34624 | &nbsp;&nbsp;&nbsp; 14419217 |
| Net investment income | &nbsp;&nbsp; 6108321 | &nbsp;&nbsp;&nbsp; 159717633 | &nbsp;&nbsp;&nbsp; 3362451 | &nbsp;&nbsp;&nbsp; 116577104 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (92796793)<br>|
| Investments—affiliated | &nbsp;&nbsp; (609253)<br>| &nbsp;&nbsp;&nbsp; (800117)<br>| &nbsp;&nbsp;&nbsp; (1101105)<br>| &nbsp;&nbsp;&nbsp; 9317 |
| Forward foreign currency exchange contracts | &nbsp;&nbsp; 9408527 | &nbsp;&nbsp;&nbsp; 291017905 | &nbsp;&nbsp;&nbsp; 7976633 | &nbsp;&nbsp;&nbsp; — |
| Foreign currency transactions | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (985803)<br>|
| Futures contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1116580 |
| In-kind redemptions—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 105563617 |
| In-kind redemptions—affiliated<sup>(b)</sup> | &nbsp;&nbsp; 398488 | &nbsp;&nbsp;&nbsp; 153051007 | &nbsp;&nbsp;&nbsp; 55074 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; 9197762 | &nbsp;&nbsp;&nbsp; 443268795 | &nbsp;&nbsp;&nbsp; 6930602 | &nbsp;&nbsp;&nbsp; 12906918 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated<sup>(c)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 281285052 |
| Investments—affiliated | &nbsp;&nbsp; 14143759 | &nbsp;&nbsp;&nbsp; 252845389 | &nbsp;&nbsp;&nbsp; 9991502 | &nbsp;&nbsp;&nbsp; (3815)<br>|
| Forward foreign currency exchange contracts | &nbsp;&nbsp; (1077310)<br>| &nbsp;&nbsp;&nbsp; (100503115)<br>| &nbsp;&nbsp;&nbsp; (2599968)<br>| &nbsp;&nbsp;&nbsp; — |
| Foreign currency translations | &nbsp;&nbsp; (207)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (25691)<br>|
| Futures contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (756727)<br>|
|  | &nbsp;&nbsp; 13066242 | &nbsp;&nbsp;&nbsp; 152342274 | &nbsp;&nbsp;&nbsp; 7391534 | &nbsp;&nbsp;&nbsp; 280498819 |
| Net realized and unrealized gain | &nbsp;&nbsp; 22264004 | &nbsp;&nbsp;&nbsp; 595611069 | &nbsp;&nbsp;&nbsp; 14322136 | &nbsp;&nbsp;&nbsp; 293405737 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $28372325 | &nbsp;&nbsp;&nbsp; $755328702 | &nbsp;&nbsp;&nbsp; $17684587 | &nbsp;&nbsp;&nbsp; $409982841 |
| <sup>(a)</sup> Net of foreign capital gain tax and capital gain tax refund, if applicable of | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(947448)<br>|
| <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. |
| <sup>(c)</sup> Net of increase in deferred foreign capital gain tax of | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(10620380)<br>|

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Operations(continued)

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>MSCI EAFE ETF <br>| &nbsp;&nbsp; iShares <br>MSCI EAFE <br> Small-Cap <br> ETF <br>|
| **INVESTMENT INCOME** |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $1646158590 | &nbsp;&nbsp;&nbsp; $310416149 |
| Dividends—affiliated | &nbsp;&nbsp; 2881326 | &nbsp;&nbsp;&nbsp; 299989 |
| Interest—unaffiliated | &nbsp;&nbsp; 687409 | &nbsp;&nbsp;&nbsp; 142349 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 713042 | &nbsp;&nbsp;&nbsp; 8823241 |
| Other income—unaffiliated | &nbsp;&nbsp; 1321577 | &nbsp;&nbsp;&nbsp; 5452 |
| Foreign taxes withheld | &nbsp;&nbsp; (119756580)<br>| &nbsp;&nbsp;&nbsp; (25996732)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; 8184907 | &nbsp;&nbsp;&nbsp; 1314041 |
| Total investment income | &nbsp;&nbsp; 1540190271 | &nbsp;&nbsp;&nbsp; 295004489 |
| EXPENSES |  |  |
| Investment advisory | &nbsp;&nbsp; 161558287 | &nbsp;&nbsp;&nbsp; 38690777 |
| Professional | &nbsp;&nbsp; 1063725 | &nbsp;&nbsp;&nbsp; 161206 |
| Interest expense | &nbsp;&nbsp; 10603 | &nbsp;&nbsp;&nbsp; 518 |
| Total expenses | &nbsp;&nbsp; 162632615 | &nbsp;&nbsp;&nbsp; 38852501 |
| Net investment income | &nbsp;&nbsp; 1377557656 | &nbsp;&nbsp;&nbsp; 256151988 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| Net realized gain (loss) from: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (606406498)<br>| &nbsp;&nbsp;&nbsp; (312618264)<br>|
| Investments—affiliated | &nbsp;&nbsp; (229)<br>| &nbsp;&nbsp;&nbsp; 38085 |
| Foreign currency transactions | &nbsp;&nbsp; (7205264)<br>| &nbsp;&nbsp;&nbsp; (2853537)<br>|
| Futures contracts | &nbsp;&nbsp; 29850048 | &nbsp;&nbsp;&nbsp; 8257366 |
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 633550535 | &nbsp;&nbsp;&nbsp; 172618334 |
|  | &nbsp;&nbsp; 49788592 | &nbsp;&nbsp;&nbsp; (134558016)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |
| Investments—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; 4088689812 | &nbsp;&nbsp;&nbsp; 580969601 |
| Investments—affiliated | &nbsp;&nbsp; (5906)<br>| &nbsp;&nbsp;&nbsp; 6536 |
| Foreign currency translations | &nbsp;&nbsp; (519193)<br>| &nbsp;&nbsp;&nbsp; 425843 |
| Futures contracts | &nbsp;&nbsp; (4329457)<br>| &nbsp;&nbsp;&nbsp; (1580609)<br>|
|  | &nbsp;&nbsp; 4083835256 | &nbsp;&nbsp;&nbsp; 579821371 |
| Net realized and unrealized gain | &nbsp;&nbsp; 4133623848 | &nbsp;&nbsp;&nbsp; 445263355 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $5511181504 | &nbsp;&nbsp;&nbsp; $701415343 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |
| <sup>(b)</sup> Net of reduction in deferred foreign capital gain tax of | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $32709 |

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Currency Hedged MSCI ACWI ex U.S. <br> ETF  | iShares <br>Currency Hedged MSCI ACWI ex U.S. <br> ETF  | iShares <br>Currency Hedged MSCI EAFE ETF  | iShares <br>Currency Hedged MSCI EAFE ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $6108321 | &nbsp;&nbsp;&nbsp; $3847827 | &nbsp;&nbsp;&nbsp; $159717633 | &nbsp;&nbsp;&nbsp; $74633925 |
| Net realized gain (loss) | &nbsp;&nbsp; 9197762 | &nbsp;&nbsp;&nbsp; (4357692)<br>| &nbsp;&nbsp;&nbsp; 443268795 | &nbsp;&nbsp;&nbsp; (47137260)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 13066242 | &nbsp;&nbsp;&nbsp; 23263272 | &nbsp;&nbsp;&nbsp; 152342274 | &nbsp;&nbsp;&nbsp; 490789318 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 28372325 | &nbsp;&nbsp;&nbsp; 22753407 | &nbsp;&nbsp;&nbsp; 755328702 | &nbsp;&nbsp;&nbsp; 518285983 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (6088385)<br>| &nbsp;&nbsp;&nbsp; (21121660)<br>| &nbsp;&nbsp;&nbsp; (159638899)<br>| &nbsp;&nbsp;&nbsp; (667586056)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 26978736 | &nbsp;&nbsp;&nbsp; 58363034 | &nbsp;&nbsp;&nbsp; 2507919371 | &nbsp;&nbsp;&nbsp; 42219759 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 49262676 | &nbsp;&nbsp;&nbsp; 59994781 | &nbsp;&nbsp;&nbsp; 3103609174 | &nbsp;&nbsp;&nbsp; (107080314)<br>|
| Beginning of year | &nbsp;&nbsp; 180295219 | &nbsp;&nbsp;&nbsp; 120300438 | &nbsp;&nbsp;&nbsp; 3556559040 | &nbsp;&nbsp;&nbsp; 3663639354 |
| End of year | &nbsp;&nbsp; $229557895 | &nbsp;&nbsp;&nbsp; $180295219 | &nbsp;&nbsp;&nbsp; $6660168214 | &nbsp;&nbsp;&nbsp; $3556559040 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Currency Hedged MSCI EAFE Small-Cap <br> ETF  | iShares <br>Currency Hedged MSCI EAFE Small-Cap <br> ETF  | iShares <br>MSCI ACWI ex U.S. ETF  | iShares <br>MSCI ACWI ex U.S. ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $3362451 | &nbsp;&nbsp;&nbsp; $1576592 | &nbsp;&nbsp;&nbsp; $116577104 | &nbsp;&nbsp;&nbsp; $127198735 |
| Net realized gain (loss) | &nbsp;&nbsp; 6930602 | &nbsp;&nbsp;&nbsp; (4643212)<br>| &nbsp;&nbsp;&nbsp; 12906918 | &nbsp;&nbsp;&nbsp; (58790597)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 7391534 | &nbsp;&nbsp;&nbsp; 12327854 | &nbsp;&nbsp;&nbsp; 280498819 | &nbsp;&nbsp;&nbsp; 459856412 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 17684587 | &nbsp;&nbsp;&nbsp; 9261234 | &nbsp;&nbsp;&nbsp; 409982841 | &nbsp;&nbsp;&nbsp; 528264550 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (3365192)<br>| &nbsp;&nbsp;&nbsp; (23380016)<br>| &nbsp;&nbsp;&nbsp; (130886807)<br>| &nbsp;&nbsp;&nbsp; (105154738)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 39311979 | &nbsp;&nbsp;&nbsp; 3625183 | &nbsp;&nbsp;&nbsp; (332138545)<br>| &nbsp;&nbsp;&nbsp; 70469185 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 53631374 | &nbsp;&nbsp;&nbsp; (10493599)<br>| &nbsp;&nbsp;&nbsp; (53042511)<br>| &nbsp;&nbsp;&nbsp; 493578997 |
| Beginning of year | &nbsp;&nbsp; 97273949 | &nbsp;&nbsp;&nbsp; 107767548 | &nbsp;&nbsp;&nbsp; 4619434796 | &nbsp;&nbsp;&nbsp; 4125855799 |
| End of year | &nbsp;&nbsp; $150905323 | &nbsp;&nbsp;&nbsp; $97273949 | &nbsp;&nbsp;&nbsp; $4566392285 | &nbsp;&nbsp;&nbsp; $4619434796 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>MSCI EAFE ETF  | iShares <br>MSCI EAFE ETF  | iShares <br>MSCI EAFE Small-Cap ETF  | iShares <br>MSCI EAFE Small-Cap ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $1377557656 | &nbsp;&nbsp;&nbsp; $1388414350 | &nbsp;&nbsp;&nbsp; $256151988 | &nbsp;&nbsp;&nbsp; $308860288 |
| Net realized gain (loss) | &nbsp;&nbsp; 49788592 | &nbsp;&nbsp;&nbsp; 334166170 | &nbsp;&nbsp;&nbsp; (134558016)<br>| &nbsp;&nbsp;&nbsp; (42615482)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 4083835256 | &nbsp;&nbsp;&nbsp; 5367130331 | &nbsp;&nbsp;&nbsp; 579821371 | &nbsp;&nbsp;&nbsp; 519104892 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 5511181504 | &nbsp;&nbsp;&nbsp; 7089710851 | &nbsp;&nbsp;&nbsp; 701415343 | &nbsp;&nbsp;&nbsp; 785349698 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (1557518348)<br>| &nbsp;&nbsp;&nbsp; (1079699701)<br>| &nbsp;&nbsp;&nbsp; (269724422)<br>| &nbsp;&nbsp;&nbsp; (180867327)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 656390035 | &nbsp;&nbsp;&nbsp; (2449920920)<br>| &nbsp;&nbsp;&nbsp; (1720856783)<br>| &nbsp;&nbsp;&nbsp; (530465081)<br>|
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 4610053191 | &nbsp;&nbsp;&nbsp; 3560090230 | &nbsp;&nbsp;&nbsp; (1289165862)<br>| &nbsp;&nbsp;&nbsp; 74017290 |
| Beginning of year | &nbsp;&nbsp; 51154301803 | &nbsp;&nbsp;&nbsp; 47594211573 | &nbsp;&nbsp;&nbsp; 11040507440 | &nbsp;&nbsp;&nbsp; 10966490150 |
| End of year | &nbsp;&nbsp; $55764354994 | &nbsp;&nbsp;&nbsp; $51154301803 | &nbsp;&nbsp;&nbsp; $9751341578 | &nbsp;&nbsp;&nbsp; $11040507440 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Currency Hedged MSCI ACWI ex U.S. ETF  | iShares Currency Hedged MSCI ACWI ex U.S. ETF  | iShares Currency Hedged MSCI ACWI ex U.S. ETF  | iShares Currency Hedged MSCI ACWI ex U.S. ETF  | iShares Currency Hedged MSCI ACWI ex U.S. ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $28.85 | &nbsp;&nbsp;&nbsp; $29.49 | &nbsp;&nbsp;&nbsp; $32.11 | &nbsp;&nbsp;&nbsp; $25.83 | &nbsp;&nbsp;&nbsp; $26.66 |
| Net investment income<sup>(a)</sup> | 0.92 | &nbsp;&nbsp;&nbsp;&nbsp;0.71 | &nbsp;&nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | &nbsp;&nbsp;&nbsp;&nbsp;0.76 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 3.24 | &nbsp;&nbsp;&nbsp;&nbsp;2.92 | &nbsp;&nbsp;&nbsp; (2.63)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.25 | &nbsp;&nbsp;&nbsp; (0.82)<br>|
| Net increase (decrease) from investment operations | 4.16 | &nbsp;&nbsp;&nbsp;&nbsp;3.63 | &nbsp;&nbsp;&nbsp; (1.59)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.89 | &nbsp;&nbsp;&nbsp; (0.06)<br>|
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.90)<br>| &nbsp;&nbsp;&nbsp; (0.65)<br>| &nbsp;&nbsp;&nbsp; (1.03)<br>| &nbsp;&nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp;&nbsp; (0.77)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (3.62)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (0.90)<br>| &nbsp;&nbsp;&nbsp; (4.27)<br>| &nbsp;&nbsp;&nbsp; (1.03)<br>| &nbsp;&nbsp;&nbsp; (0.61)<br>| &nbsp;&nbsp;&nbsp; (0.77)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $32.11 | &nbsp;&nbsp;&nbsp; $28.85 | &nbsp;&nbsp;&nbsp; $29.49 | &nbsp;&nbsp;&nbsp; $32.11 | &nbsp;&nbsp;&nbsp; $25.83 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 14.62<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.81<br> %<br>| &nbsp;&nbsp;&nbsp; (5.03)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 26.76<br> %<br>| &nbsp;&nbsp;&nbsp; (0.36)%<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>|
| Total expenses after fees waived | 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>|
| Net investment income | 3.08<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.55<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.12<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.90<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $229558 | &nbsp;&nbsp;&nbsp; $180295 | &nbsp;&nbsp;&nbsp; $120300 | &nbsp;&nbsp;&nbsp; $120406 | &nbsp;&nbsp;&nbsp; $71027 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 9<br> %<br>| &nbsp;&nbsp;&nbsp; 12<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 10<br> %<br>| &nbsp;&nbsp;&nbsp; 9<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Currency Hedged MSCI EAFE ETF  | iShares Currency Hedged MSCI EAFE ETF  | iShares Currency Hedged MSCI EAFE ETF  | iShares Currency Hedged MSCI EAFE ETF  | iShares Currency Hedged MSCI EAFE ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $30.97 | &nbsp;&nbsp;&nbsp; $32.77 | &nbsp;&nbsp;&nbsp; $34.28 | &nbsp;&nbsp;&nbsp; $26.72 | &nbsp;&nbsp;&nbsp; $29.40 |
| Net investment income<sup>(a)</sup> | 1.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.47 | &nbsp;&nbsp;&nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 4.05 | &nbsp;&nbsp;&nbsp;&nbsp;4.08 | &nbsp;&nbsp;&nbsp; (1.59)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.55 | &nbsp;&nbsp;&nbsp; (1.98)<br>|
| Net increase (decrease) from investment operations | 5.15 | &nbsp;&nbsp;&nbsp;&nbsp;4.76 | &nbsp;&nbsp;&nbsp; (0.12)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.30 | &nbsp;&nbsp;&nbsp; (1.28)<br>|
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp;&nbsp; (1.39)<br>| &nbsp;&nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp;&nbsp; (0.73)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (5.89)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.67)<br>|
| Total distributions | &nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp;&nbsp; (6.56)<br>| &nbsp;&nbsp;&nbsp; (1.39)<br>| &nbsp;&nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp;&nbsp; (1.40)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $35.12 | &nbsp;&nbsp;&nbsp; $30.97 | &nbsp;&nbsp;&nbsp; $32.77 | &nbsp;&nbsp;&nbsp; $34.28 | &nbsp;&nbsp;&nbsp; $26.72 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 16.81<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 16.89<br> %<br>| &nbsp;&nbsp;&nbsp; (0.29)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 31.22<br> %<br>| &nbsp;&nbsp;&nbsp; (4.74)%<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.38<br> %<br>|
| Total expenses after fees waived | 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>|
| Net investment income | 3.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.47<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $6660168 | &nbsp;&nbsp;&nbsp; $3556559 | &nbsp;&nbsp;&nbsp; $3663639 | &nbsp;&nbsp;&nbsp; $2838619 | &nbsp;&nbsp;&nbsp; $2260359 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 12<br> %<br>| &nbsp;&nbsp;&nbsp; 15<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp;&nbsp; 12<br> %<br>| &nbsp;&nbsp;&nbsp; 8<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Currency Hedged MSCI EAFE Small-Cap ETF  | iShares Currency Hedged MSCI EAFE Small-Cap ETF  | iShares Currency Hedged MSCI EAFE Small-Cap ETF  | iShares Currency Hedged MSCI EAFE Small-Cap ETF  | iShares Currency Hedged MSCI EAFE Small-Cap ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $28.78 | &nbsp;&nbsp;&nbsp; $32.76 | &nbsp;&nbsp;&nbsp; $36.63 | &nbsp;&nbsp;&nbsp; $26.78 | &nbsp;&nbsp;&nbsp; $28.62 |
| Net investment income<sup>(a)</sup> | 0.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;1.37 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.87 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 3.48 | &nbsp;&nbsp;&nbsp;&nbsp;2.35 | &nbsp;&nbsp;&nbsp; (3.91)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.78 | &nbsp;&nbsp;&nbsp; (1.51)<br>|
| Net increase (decrease) from investment operations | 4.35 | &nbsp;&nbsp;&nbsp;&nbsp;2.83 | &nbsp;&nbsp;&nbsp; (2.54)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10.40 | &nbsp;&nbsp;&nbsp; (0.64)<br>|
| **Distributions**<sup>(c)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.82)<br>| &nbsp;&nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp;&nbsp; (1.33)<br>| &nbsp;&nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp;&nbsp; (0.88)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (6.34)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.32)<br>|
| Total distributions | &nbsp;&nbsp; (0.82)<br>| &nbsp;&nbsp;&nbsp; (6.81)<br>| &nbsp;&nbsp;&nbsp; (1.33)<br>| &nbsp;&nbsp;&nbsp; (0.55)<br>| &nbsp;&nbsp;&nbsp; (1.20)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $32.31 | &nbsp;&nbsp;&nbsp; $28.78 | &nbsp;&nbsp;&nbsp; $32.76 | &nbsp;&nbsp;&nbsp; $36.63 | &nbsp;&nbsp;&nbsp; $26.78 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 15.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10.67<br> %<br>| &nbsp;&nbsp;&nbsp; (6.97)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 38.96<br> %<br>| &nbsp;&nbsp;&nbsp; (2.62)%<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.43<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.43<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.43<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.43<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.43<br> %<br>|
| Total expenses after fees waived | 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.03<br> %<br>|
| Net investment income | 2.91<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.64<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.92<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.85<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.16<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $150905 | &nbsp;&nbsp;&nbsp; $97274 | &nbsp;&nbsp;&nbsp; $107768 | &nbsp;&nbsp;&nbsp; $98178 | &nbsp;&nbsp;&nbsp; $44187 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 12<br> %<br>| &nbsp;&nbsp;&nbsp; 17<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp; 9<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI ACWI ex U.S. ETF  | iShares MSCI ACWI ex U.S. ETF  | iShares MSCI ACWI ex U.S. ETF  | iShares MSCI ACWI ex U.S. ETF  | iShares MSCI ACWI ex U.S. ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $51.10 | &nbsp;&nbsp;&nbsp; $46.36 | &nbsp;&nbsp;&nbsp; $56.45 | &nbsp;&nbsp;&nbsp; $45.11 | &nbsp;&nbsp;&nbsp; $46.26 |
| Net investment income<sup>(a)</sup> | 1.32 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.43 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.38 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 3.44 | &nbsp;&nbsp;&nbsp;&nbsp;4.49 | &nbsp;&nbsp;&nbsp; (9.73)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.31 | &nbsp;&nbsp;&nbsp; (0.97)<br>|
| Net increase (decrease) from investment operations | 4.76 | &nbsp;&nbsp;&nbsp;&nbsp;5.92 | &nbsp;&nbsp;&nbsp; (8.35)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.45 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.50)<br>| &nbsp;&nbsp;&nbsp; (1.18)<br>| &nbsp;&nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp;&nbsp; (1.30)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $54.36 | &nbsp;&nbsp;&nbsp; $51.10 | &nbsp;&nbsp;&nbsp; $46.36 | &nbsp;&nbsp;&nbsp; $56.45 | &nbsp;&nbsp;&nbsp; $45.11 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 9.50 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.96 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (15.04 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 27.66<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.29<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>|
| Total expenses after fees waived | 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.31<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 2.60 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.04 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.62 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.14<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.50<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $4566392 | &nbsp;&nbsp;&nbsp; $4619435 | &nbsp;&nbsp;&nbsp; $4125856 | &nbsp;&nbsp;&nbsp; $4290381 | &nbsp;&nbsp;&nbsp; $2995541 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 6<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 8<br> %<br>| &nbsp;&nbsp;&nbsp; 10<br> %<br>| &nbsp;&nbsp;&nbsp; 17<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022:<br> • Net investment income per share by $0.00, $0.06 and $0.01.<br> • Total return by 0.01%, 0.12% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.01%, 0.12% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022:<br> • Net investment income per share by $0.00, $0.06 and $0.01.<br> • Total return by 0.01%, 0.12% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.01%, 0.12% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022:<br> • Net investment income per share by $0.00, $0.06 and $0.01.<br> • Total return by 0.01%, 0.12% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.01%, 0.12% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022:<br> • Net investment income per share by $0.00, $0.06 and $0.01.<br> • Total return by 0.01%, 0.12% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.01%, 0.12% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022:<br> • Net investment income per share by $0.00, $0.06 and $0.01.<br> • Total return by 0.01%, 0.12% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.01%, 0.12% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022:<br> • Net investment income per share by $0.00, $0.06 and $0.01.<br> • Total return by 0.01%, 0.12% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.01%, 0.12% and 0.02%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI EAFE ETF  | iShares MSCI EAFE ETF  | iShares MSCI EAFE ETF  | iShares MSCI EAFE ETF  | iShares MSCI EAFE ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $74.40 | &nbsp;&nbsp;&nbsp; $65.61 | &nbsp;&nbsp;&nbsp; $79.41 | &nbsp;&nbsp;&nbsp; $62.17 | &nbsp;&nbsp;&nbsp; $64.94 |
| Net investment income<sup>(a)</sup> | 2.04 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.09 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.90 | &nbsp;&nbsp;&nbsp;&nbsp;1.48 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 6.21 | &nbsp;&nbsp;&nbsp;&nbsp;8.37 | &nbsp;&nbsp;&nbsp; (12.88)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.14 | &nbsp;&nbsp;&nbsp; (2.62)<br>|
| Net increase (decrease) from investment operations | 8.25 | &nbsp;&nbsp;&nbsp;&nbsp;10.37 | &nbsp;&nbsp;&nbsp; (10.79)<br>| &nbsp;&nbsp;&nbsp;&nbsp;19.04 | &nbsp;&nbsp;&nbsp; (1.14)<br>|
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (2.32)<br>| &nbsp;&nbsp;&nbsp; (1.58)<br>| &nbsp;&nbsp;&nbsp; (3.01)<br>| &nbsp;&nbsp;&nbsp; (1.80)<br>| &nbsp;&nbsp;&nbsp; (1.63)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $80.33 | &nbsp;&nbsp;&nbsp; $74.40 | &nbsp;&nbsp;&nbsp; $65.61 | &nbsp;&nbsp;&nbsp; $79.41 | &nbsp;&nbsp;&nbsp; $62.17 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 11.27 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 15.94 %<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; (13.84 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 30.73<br> %<br>| &nbsp;&nbsp;&nbsp; (1.80)%<br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.37<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>|
| Net investment income | 2.72 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.96 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.82 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.60<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.34<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $55764355 | &nbsp;&nbsp;&nbsp; $51154302 | &nbsp;&nbsp;&nbsp; $47594212 | &nbsp;&nbsp;&nbsp; $57269991 | &nbsp;&nbsp;&nbsp; $46405254 |
| Portfolio turnover rate<sup>(h)</sup> | &nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 2<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 4<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.03 and $0.07. <br> • Total return by 0.01%, 0.04% and 0.10%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.04% and 0.09%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.03 and $0.07. <br> • Total return by 0.01%, 0.04% and 0.10%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.04% and 0.09%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.03 and $0.07. <br> • Total return by 0.01%, 0.04% and 0.10%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.04% and 0.09%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.03 and $0.07. <br> • Total return by 0.01%, 0.04% and 0.10%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.04% and 0.09%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.03 and $0.07. <br> • Total return by 0.01%, 0.04% and 0.10%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.04% and 0.09%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.03 and $0.07. <br> • Total return by 0.01%, 0.04% and 0.10%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.04% and 0.09%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI EAFE Small-Cap ETF  | iShares MSCI EAFE Small-Cap ETF  | iShares MSCI EAFE Small-Cap ETF  | iShares MSCI EAFE Small-Cap ETF  | iShares MSCI EAFE Small-Cap ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $61.27 | &nbsp;&nbsp;&nbsp; $58.15 | &nbsp;&nbsp;&nbsp; $75.41 | &nbsp;&nbsp;&nbsp; $55.23 | &nbsp;&nbsp;&nbsp; $57.03 |
| Net investment income<sup>(a)</sup> | 1.57 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.65 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.70 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.39 | &nbsp;&nbsp;&nbsp;&nbsp;1.12 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 3.81 | &nbsp;&nbsp;&nbsp;&nbsp;2.47 | &nbsp;&nbsp;&nbsp; (16.38)<br>| &nbsp;&nbsp;&nbsp;&nbsp;20.00 | &nbsp;&nbsp;&nbsp; (1.12)<br>|
| Net increase (decrease) from investment operations | 5.38 | &nbsp;&nbsp;&nbsp;&nbsp;4.12 | &nbsp;&nbsp;&nbsp; (14.68)<br>| &nbsp;&nbsp;&nbsp;&nbsp;21.39 | &nbsp;&nbsp;&nbsp; — |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.73)<br>| &nbsp;&nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp;&nbsp; (2.58)<br>| &nbsp;&nbsp;&nbsp; (1.21)<br>| &nbsp;&nbsp;&nbsp; (1.80)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $64.92 | &nbsp;&nbsp;&nbsp; $61.27 | &nbsp;&nbsp;&nbsp; $58.15 | &nbsp;&nbsp;&nbsp; $75.41 | &nbsp;&nbsp;&nbsp; $55.23 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 8.98 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.12 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (19.80 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 38.84<br> %<br>| &nbsp;&nbsp;&nbsp; (0.16)%<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>| &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 2.62 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.88 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.50 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.01<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $9751342 | &nbsp;&nbsp;&nbsp; $11040507 | &nbsp;&nbsp;&nbsp; $10966490 | &nbsp;&nbsp;&nbsp; $13135610 | &nbsp;&nbsp;&nbsp; $8527860 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 14<br> %<br>| &nbsp;&nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp; 15<br> %<br>| &nbsp;&nbsp;&nbsp; 17<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.01 and $0.03. <br> • Total return by 0.02%, 0.03% and 0.04%. <br> • Ratio of net investment income to average net assets by 0.01%, 0.02% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.01 and $0.03. <br> • Total return by 0.02%, 0.03% and 0.04%. <br> • Ratio of net investment income to average net assets by 0.01%, 0.02% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.01 and $0.03. <br> • Total return by 0.02%, 0.03% and 0.04%. <br> • Ratio of net investment income to average net assets by 0.01%, 0.02% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.01 and $0.03. <br> • Total return by 0.02%, 0.03% and 0.04%. <br> • Ratio of net investment income to average net assets by 0.01%, 0.02% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.01 and $0.03. <br> • Total return by 0.02%, 0.03% and 0.04%. <br> • Ratio of net investment income to average net assets by 0.01%, 0.02% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.01 and $0.03. <br> • Total return by 0.02%, 0.03% and 0.04%. <br> • Ratio of net investment income to average net assets by 0.01%, 0.02% and 0.04%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| Currency Hedged MSCI ACWI ex U.S. | &nbsp;&nbsp; Diversified |
| Currency Hedged MSCI EAFE | &nbsp;&nbsp; Diversified |
| Currency Hedged MSCI EAFE Small-Cap | &nbsp;&nbsp; Diversified |
| MSCI ACWI ex U.S. | &nbsp;&nbsp; Diversified |
| MSCI EAFE | &nbsp;&nbsp; Diversified |
| MSCI EAFE Small-Cap | &nbsp;&nbsp; Diversified |

---

Currently each Fund seeks to achieve its investment objective by investing a substantial portion of its assets in an iShares fund (an "underlying fund"). The financial statements, including the accounting policies, and Schedules of Investments for the underlying funds are included in this report and should be read in conjunction with the financial statements of the Funds.

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes. However, each of the currency hedged funds has elected to treat realized gains (losses) from certain foreign currency contracts as capital gain (loss) for U.S. federal income tax purposes.

**Foreign Taxes:** The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2024, if any, are disclosed in the Statements of Assets and Liabilities.

The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**Collateralization:** If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exchange-traded funds and closed-end funds traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the fund is primarily traded. Funds traded on a recognized exchange for which there were no sales on that day may be valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's published NAV.

&nbsp;&nbsp;&nbsp;&nbsp;• Futures contracts are valued based on that day's last reported settlement or trade price on the exchange where the contract is traded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Forward foreign currency exchange contracts are valued at the mean between the bid and ask prices and are determined as of the close of trading on the New York Stock Exchange ("NYSE") based on that day's prevailing forward exchange rate for the underlying currencies.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange ("NYSE"). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments ("Systematic Fair Value Price"). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** 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:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 that may not have a secondary market and/or may have 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.

***4. SECURITIES AND OTHER INVESTMENTS***

**Warrants:** Warrants entitle a fund to purchase a specified number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date of the warrants, if any. If the price of the underlying stock does not rise above the strike price before the warrant expires, the warrant generally expires without any value and a fund will lose any amount it paid for the warrant. Thus, investments in warrants may involve more risk than investments in common stock. Warrants may trade in the same markets as their underlying stock; however, the price of the warrant does not necessarily move with the price of the underlying stock.

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| Currency Hedged MSCI ACWI ex U.S. |  |  |  |  |
| SG Americas Securities LLC | &nbsp;&nbsp; $102431788 | &nbsp;&nbsp;&nbsp; $(102431788) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Currency Hedged MSCI EAFE |  |  |  |  |
| BofA Securities, Inc. | &nbsp;&nbsp; $209048504 | &nbsp;&nbsp;&nbsp; $(209048504) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| ING Financial Markets LLC | &nbsp;&nbsp; 19672128 | &nbsp;&nbsp;&nbsp; (19672128) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 1114625344 | &nbsp;&nbsp;&nbsp; (1114625344) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Mizuho Securities USA LLC | &nbsp;&nbsp; 9924460 | &nbsp;&nbsp;&nbsp; (9924460) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 43948884 | &nbsp;&nbsp;&nbsp; (43948884) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 4018000 | &nbsp;&nbsp;&nbsp; (4018000) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 35028924 | &nbsp;&nbsp;&nbsp; (35028924) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $1436266244 | &nbsp;&nbsp;&nbsp; $(1436266244) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| MSCI ACWI ex U.S. |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $306536 | &nbsp;&nbsp;&nbsp; $(306536) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 743509 | &nbsp;&nbsp;&nbsp; (743509) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 4775 | &nbsp;&nbsp;&nbsp; (4775) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 1416336 | &nbsp;&nbsp;&nbsp; (1416336) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 1228876 | &nbsp;&nbsp;&nbsp; (1228876) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 29524 | &nbsp;&nbsp;&nbsp; (29524) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 916202 | &nbsp;&nbsp;&nbsp; (916202) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Macquarie Bank Ltd. | &nbsp;&nbsp; 388789 | &nbsp;&nbsp;&nbsp; (388789) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 4688270 | &nbsp;&nbsp;&nbsp; (4688270) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 41638 | &nbsp;&nbsp;&nbsp; (41638) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Virtu Americas LLC | &nbsp;&nbsp; 94188 | &nbsp;&nbsp;&nbsp; (94188) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $9858643 | &nbsp;&nbsp;&nbsp; $(9858643) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| MSCI EAFE |  |  |  |  |
| BofA Securities, Inc. | &nbsp;&nbsp; $8475436 | &nbsp;&nbsp;&nbsp; $(8475436) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 13145110 | &nbsp;&nbsp;&nbsp; (13145110) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 8102489 | &nbsp;&nbsp;&nbsp; (8102489) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 59580243 | &nbsp;&nbsp;&nbsp; (59580243) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 20121624 | &nbsp;&nbsp;&nbsp; (20121624) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Macquarie Bank Ltd. | &nbsp;&nbsp; 906229 | &nbsp;&nbsp;&nbsp; (906229) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 15018827 | &nbsp;&nbsp;&nbsp; (15018827) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 10261998 | &nbsp;&nbsp;&nbsp; (10261998) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $135611956 | &nbsp;&nbsp;&nbsp; $(135611956) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| MSCI EAFE Small-Cap |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $1125851 | &nbsp;&nbsp;&nbsp; $(1051006) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $74845<sup>(b)</sup> <br>|
| Barclays Capital, Inc. | &nbsp;&nbsp; 3368366 | &nbsp;&nbsp;&nbsp; (3368366) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 2717007 | &nbsp;&nbsp;&nbsp; (2717007) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 23240557 | &nbsp;&nbsp;&nbsp; (23240557) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 11289480 | &nbsp;&nbsp;&nbsp; (11289480) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Deutsche Bank Securities, Inc. | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;(3) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 91567322 | &nbsp;&nbsp;&nbsp; (91567322) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 29532332 | &nbsp;&nbsp;&nbsp; (29532332) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 65077430 | &nbsp;&nbsp;&nbsp; (65077430) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 3730029 | &nbsp;&nbsp;&nbsp; (3730029) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Macquarie Bank Ltd. | &nbsp;&nbsp; 4829273 | &nbsp;&nbsp;&nbsp; (4829273) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 59158535 | &nbsp;&nbsp;&nbsp; (59158535) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| National Financial Services LLC | &nbsp;&nbsp; 343783 | &nbsp;&nbsp;&nbsp; (343783) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 538100 | &nbsp;&nbsp;&nbsp; (538100) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 2086733 | &nbsp;&nbsp;&nbsp; (2086733) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 421142 | &nbsp;&nbsp;&nbsp; (421142) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 6857099 | &nbsp;&nbsp;&nbsp; (6857099) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 129162 | &nbsp;&nbsp;&nbsp; (108352) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20810<sup>(b)</sup> <br>|
| UBS AG | &nbsp;&nbsp; 4821127 | &nbsp;&nbsp;&nbsp; (4821127) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;(19) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 2611 | &nbsp;&nbsp;&nbsp; (2251) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 360<sup>(b)</sup> <br>|
|  | &nbsp;&nbsp; $310835961 | &nbsp;&nbsp;&nbsp; $(310739946) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $96015 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

<sup>(b)</sup> The market value of the loaned securities is determined as of July 31, 2024. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by a counterparty. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. ("BlackRock"). BlackRock's indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***5. DERIVATIVE FINANCIAL INSTRUMENTS***

**Futures Contracts:** Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract's size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.

Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.

**Forward Foreign Currency Exchange Contracts:** Forward foreign currency exchange contracts are entered into to gain or reduce exposure to foreign currencies (foreign currency exchange rate risk).

A forward foreign currency exchange contract is an agreement between two parties to buy and sell a currency at a set exchange rate on a specified date. These contracts help to manage the overall exposure to the currencies in which some of the investments held by the Funds are denominated and in some cases, may be used to obtain exposure to a particular market.The contracts are traded over-the-counter ("OTC") and not on an organized exchange.

The contract is marked-to-market daily and the change in market value is recorded as unrealized appreciation or depreciation in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the value at the time it was opened and the value at the time it was closed. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in cash without the delivery of foreign currency. The use of forward foreign currency exchange contracts involves the risk that the value of a contract changes unfavorably due to movements in the value of the referenced foreign currencies, and such value may exceed the amount(s) reflected in the Statements of Assets and Liabilities. Cash amounts pledged for forward foreign currency exchange contracts are considered restricted and are included in cash pledged as collateral for OTC derivatives in the Statements of Assets and Liabilities. A fund's risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate unrealized gain netted against any collateral held by the Fund.

**Master Netting Arrangements:** In order to define its contractual rights and to secure rights that will help mitigate its counterparty risk, a Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement ("ISDA Master Agreement") or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs certain OTC derivatives and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments' payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency, or other events.

For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the mark-to-market amount for each transaction under such agreement, and comparing that amount to the value of any collateral currently pledged by a fund and the counterparty.

Cash collateral that has been pledged to cover obligations of the Funds and cash collateral received from the counterparty, if any, is reported separately in the Statements of Assets and Liabilities as cash pledged as collateral and cash received as collateral, respectively. Non-cash collateral pledged by the Funds, if any, is noted in the Schedules of Investments. Generally, the amount of collateral due from or to a counterparty is subject to a certain minimum transfer amount threshold before a transfer is required, which is determined at the close of business of the Funds. Any additional required collateral is delivered to/pledged by the Funds on the next business day. Typically, the counterparty is not permitted to sell, re-pledge or use cash and non-cash collateral it receives. A fund generally agrees not to use non-cash collateral that it receives but may, absent default or certain other circumstances defined in the underlying ISDA Master Agreement, be permitted to use cash collateral received. In such cases, interest may be paid pursuant to the collateral arrangement with the counterparty. To the extent amounts due to the Funds from the counterparty are not fully collateralized, each Fund bears the risk of loss from counterparty non-performance. Likewise, to the extent the Funds have delivered collateral to a counterparty and stand ready to perform under the terms of their agreement with such counterparty, each Fund bears the risk of loss from a counterparty in the amount of the value of the collateral in the event the counterparty fails to return such collateral. Based on the terms of agreements, collateral may not be required for all derivative contracts.

For financial reporting purposes, each Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements, if any, in the Statements of Assets and Liabilities.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***6. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| Currency Hedged MSCI ACWI ex U.S. | 0.38% |
| Currency Hedged MSCI EAFE | 0.38 |
| Currency Hedged MSCI EAFE Small-Cap | 0.43 |

---

For its investment advisory services to each of the iShares MSCI ACWI ex U.S. and iShares MSCI EAFE ETFs, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on each Fund's allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

---

| | |
|:---|:---|
| *Aggregate Average Daily Net Assets* | *Investment Advisory Fees* |
| First $30 billion | 0.350% |
| Over $30 billion, up to and including $60 billion | 0.320 |
| Over $60 billion, up to and including $90 billion | 0.280 |
| Over $90 billion, up to and including $120 billion | 0.252 |
| Over $120 billion, up to and including $150 billion | 0.227 |
| Over $150 billion | 0.204 |

---

For its investment advisory services to the iShares MSCI EAFE Small-Cap ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund's allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

---

| | |
|:---|:---|
| *Aggregate Average Daily Net Assets* | *Investment Advisory Fees* |
| First $12 billion | 0.4000% |
| Over $12 billion, up to and including $18 billion | 0.3800 |
| Over $18 billion, up to and including $24 billion | 0.3610 |
| Over $24 billion, up to and including $30 billion | 0.3430 |
| Over $30 billion | 0.3259 |

---

**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statements of Operations does not include acquired fund fees and expenses.

For the iShares Currency Hedged MSCI ACWI ex U.S. ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2025 so that the Fund's total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund's investments in the iShares MSCI ACWI ex U.S. ETF ("ACWX"), after taking into account any fee waivers by ACWX, plus 0.03%.

For the iShares Currency Hedged MSCI EAFE ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2025 so that the Fund's total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund's investments in the iShares MSCI EAFE ETF ("EFA"), after taking into account any fee waivers by EFA, plus 0.03%.

For the iShares Currency Hedged MSCI EAFE Small-Cap ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2025 so that the Fund's total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund's investments in the iShares MSCI EAFE Small-Cap ETF ("SCZ"), taking into account any fee waivers by SCZ, plus 0.03%.

For ACWX, BFA has contractually agreed to waive a portion of its investment advisory fees for the Fund through November 30, 2026 in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund's investments in other iShares funds.

These amounts are included in investment advisory fees waived in the Statements of Operations. For the year ended July 31, 2024, the amounts waived in investment advisory fees pursuant to these arrangements were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| Currency Hedged MSCI ACWI ex U.S. | &nbsp;&nbsp; $694787 |
| Currency Hedged MSCI EAFE | &nbsp;&nbsp; 16900594 |
| Currency Hedged MSCI EAFE Small-Cap | &nbsp;&nbsp; 462498 |

---

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

**Distributor:** BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, redemption fee, distribution fee or service fee. The money market fund in which the cash collateral has been invested may impose a discretionary liquidity fee of up to 2% of the value redeemed, if such fee is determined to be in the best interests of such money market fund.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended July 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| Currency Hedged MSCI ACWI ex U.S. | &nbsp;&nbsp; $68738 |
| Currency Hedged MSCI EAFE | &nbsp;&nbsp; 1259969 |
| Currency Hedged MSCI EAFE Small-Cap | &nbsp;&nbsp; 51 |
| MSCI ACWI ex U.S. | &nbsp;&nbsp; 56529 |
| MSCI EAFE | &nbsp;&nbsp; 206538 |
| MSCI EAFE Small-Cap | &nbsp;&nbsp; 1940447 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the year ended July 31, 2024, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* | &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>|
| MSCI ACWI ex U.S. | &nbsp;&nbsp; $25481174 | &nbsp;&nbsp;&nbsp; $21524596 | &nbsp;&nbsp;&nbsp; $(18968638) |
| MSCI EAFE | &nbsp;&nbsp; 591676443 | &nbsp;&nbsp;&nbsp; 232267530 | &nbsp;&nbsp;&nbsp; (215182970) |
| MSCI EAFE Small-Cap | &nbsp;&nbsp; 595055265 | &nbsp;&nbsp;&nbsp; 530112534 | &nbsp;&nbsp;&nbsp; 201469363 |

---

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***7. PURCHASES AND SALES***

For the year ended July 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| Currency Hedged MSCI ACWI ex U.S. | &nbsp;&nbsp; $27575442 | &nbsp;&nbsp;&nbsp; $18542662 |
| Currency Hedged MSCI EAFE | &nbsp;&nbsp; 782172965 | &nbsp;&nbsp;&nbsp; 571889902 |
| Currency Hedged MSCI EAFE Small-Cap | &nbsp;&nbsp; 20519471 | &nbsp;&nbsp;&nbsp; 14408855 |
| MSCI ACWI ex U.S. | &nbsp;&nbsp; 262212821 | &nbsp;&nbsp;&nbsp; 275149625 |
| MSCI EAFE | &nbsp;&nbsp; 2810222304 | &nbsp;&nbsp;&nbsp; 1539504499 |
| MSCI EAFE Small-Cap | &nbsp;&nbsp; 1476026917 | &nbsp;&nbsp;&nbsp; 1323129183 |

---

For the year ended July 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| Currency Hedged MSCI ACWI ex U.S. | &nbsp;&nbsp; $28393330 | &nbsp;&nbsp;&nbsp; $1603422 |
| Currency Hedged MSCI EAFE | &nbsp;&nbsp; 3320652312 | &nbsp;&nbsp;&nbsp; 815811496 |
| Currency Hedged MSCI EAFE Small-Cap | &nbsp;&nbsp; 41248275 | &nbsp;&nbsp;&nbsp; 2240283 |
| MSCI ACWI ex U.S. | &nbsp;&nbsp; 30411607 | &nbsp;&nbsp;&nbsp; 362157680 |
| MSCI EAFE | &nbsp;&nbsp; 1079278859 | &nbsp;&nbsp;&nbsp; 1896851738 |
| MSCI EAFE Small-Cap | &nbsp;&nbsp; 72656858 | &nbsp;&nbsp;&nbsp; 1923923842 |

---

***8. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of July 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2024, permanent differences attributable to distributions paid in excess of taxable income and realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| Currency Hedged MSCI ACWI ex U.S. | &nbsp;&nbsp; $398488 | &nbsp;&nbsp;&nbsp; $(398488) |
| Currency Hedged MSCI EAFE | &nbsp;&nbsp; 151855942 | &nbsp;&nbsp;&nbsp; (151855942) |
| Currency Hedged MSCI EAFE Small-Cap | &nbsp;&nbsp; 37467 | &nbsp;&nbsp;&nbsp; (37467) |
| MSCI ACWI ex U.S. | &nbsp;&nbsp; 98511060 | &nbsp;&nbsp;&nbsp; (98511060) |
| MSCI EAFE | &nbsp;&nbsp; 613074619 | &nbsp;&nbsp;&nbsp; (613074619) |
| MSCI EAFE Small-Cap | &nbsp;&nbsp; 144745136 | &nbsp;&nbsp;&nbsp; (144745136) |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*07/31/23*<br>|
| Currency Hedged MSCI ACWI ex U.S. |  |  |
| Ordinary income | &nbsp;&nbsp; $6088385 | &nbsp;&nbsp;&nbsp; $11294544 |
| Long-term capital gains | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9827116 |
|  | &nbsp;&nbsp; $6088385 | &nbsp;&nbsp;&nbsp; $21121660 |
| Currency Hedged MSCI EAFE |  |  |
| Ordinary income | &nbsp;&nbsp; $159638899 | &nbsp;&nbsp;&nbsp; $311183380 |
| Long-term capital gains | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 356402676 |
|  | &nbsp;&nbsp; $159638899 | &nbsp;&nbsp;&nbsp; $667586056 |
| Currency Hedged MSCI EAFE Small-Cap |  |  |
| Ordinary income | &nbsp;&nbsp; $3365192 | &nbsp;&nbsp;&nbsp; $10548386 |
| Long-term capital gains | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12831630 |
|  | &nbsp;&nbsp; $3365192 | &nbsp;&nbsp;&nbsp; $23380016 |

---

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended*<br> *07/31/24*<br>| &nbsp;&nbsp; *Year Ended*<br> *07/31/23*<br>|
| MSCI ACWI ex U.S. |  |  |
| Ordinary income | &nbsp;&nbsp; $130886807 | &nbsp;&nbsp;&nbsp; $105154738 |
| MSCI EAFE |  |  |
| Ordinary income | &nbsp;&nbsp; $1557518348 | &nbsp;&nbsp;&nbsp; $1079699701 |
| MSCI EAFE Small-Cap |  |  |
| Ordinary income | &nbsp;&nbsp; $269724422 | &nbsp;&nbsp;&nbsp; $180867327 |

---

As of July 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| Currency Hedged MSCI ACWI ex U.S. | &nbsp;&nbsp; $25253 | &nbsp;&nbsp;&nbsp; $(4948201) | &nbsp;&nbsp;&nbsp; $27203023 | &nbsp;&nbsp;&nbsp; $22280075 |
| Currency Hedged MSCI EAFE | &nbsp;&nbsp; 293911 | &nbsp;&nbsp;&nbsp; (174347742) | &nbsp;&nbsp;&nbsp; 550586525 | &nbsp;&nbsp;&nbsp; 376532694 |
| Currency Hedged MSCI EAFE Small-Cap | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (10267956) | &nbsp;&nbsp;&nbsp; 8562447 | &nbsp;&nbsp;&nbsp; (1705509) |
| MSCI ACWI ex U.S. | &nbsp;&nbsp; 35735495 | &nbsp;&nbsp;&nbsp; (655146905) | &nbsp;&nbsp;&nbsp; 492173778 | &nbsp;&nbsp;&nbsp; (127237632) |
| MSCI EAFE | &nbsp;&nbsp; 352236972 | &nbsp;&nbsp;&nbsp; (8819287179) | &nbsp;&nbsp;&nbsp; 9838768711 | &nbsp;&nbsp;&nbsp; 1371718504 |
| MSCI EAFE Small-Cap | &nbsp;&nbsp; 75694648 | &nbsp;&nbsp;&nbsp; (884211082) | &nbsp;&nbsp;&nbsp; (557000350) | &nbsp;&nbsp;&nbsp; (1365516784) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain foreign currency contracts and futures contracts, the timing and recognition of partnership income, the characterization of corporate actions and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies. 

A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as "passive foreign investment companies." Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.

As of July 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Currency Hedged MSCI ACWI ex U.S. | &nbsp;&nbsp; $305408830 | &nbsp;&nbsp;&nbsp; $37560239 | &nbsp;&nbsp;&nbsp; $(10357009) | &nbsp;&nbsp;&nbsp; $27203230 |
| Currency Hedged MSCI EAFE | &nbsp;&nbsp; 7564252059 | &nbsp;&nbsp;&nbsp; 756391712 | &nbsp;&nbsp;&nbsp; (205805187) | &nbsp;&nbsp;&nbsp; 550586525 |
| Currency Hedged MSCI EAFE Small-Cap | &nbsp;&nbsp; 142537013 | &nbsp;&nbsp;&nbsp; 15529690 | &nbsp;&nbsp;&nbsp; (6967243) | &nbsp;&nbsp;&nbsp; 8562447 |
| MSCI ACWI ex U.S. | &nbsp;&nbsp; 4065499447 | &nbsp;&nbsp;&nbsp; 1061142772 | &nbsp;&nbsp;&nbsp; (554256200) | &nbsp;&nbsp;&nbsp; 506886572 |
| MSCI EAFE | &nbsp;&nbsp; 45919557022 | &nbsp;&nbsp;&nbsp; 16514809095 | &nbsp;&nbsp;&nbsp; (6673772563) | &nbsp;&nbsp;&nbsp; 9841036532 |
| MSCI EAFE Small-Cap | &nbsp;&nbsp; 10570500565 | &nbsp;&nbsp;&nbsp; 1387271245 | &nbsp;&nbsp;&nbsp; (1944773702) | &nbsp;&nbsp;&nbsp; (557502457) |

---

***9. LINE OF CREDIT***

The iShares Currency Hedged MSCI EAFE ETF and iShares MSCI ACWI ex U.S. ETF, along with certain other iShares funds ("Participating Funds"), are parties to a $800 million credit agreement ("Syndicated Credit Agreement") with a group of lenders, which expires on October 16, 2024. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) Daily Simple Secured Overnight Financing Rate ("SOFR") plus 0.10% and 1.00% per annum or (b) the U.S. Federal Funds rate plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund's relative exposure to certain target markets or a Participating Fund's maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

During the year ended July 31, 2024, the iShares Currency Hedged MSCI EAFE ETF did not borrow under the Syndicated Credit Agreement.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

For the year ended July 31, 2024, the maximum amount borrowed, the average daily borrowing and the weighted average interest rate, if any, under the Syndicated Credit Agreement were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Maximum* <br>*Amount* <br>*Borrowed*<br>| &nbsp;&nbsp; *Average* <br>*Borrowing*<br>| &nbsp;&nbsp; *Weighted* <br>*Average* <br>*Interest Rates* <br>|
| MSCI ACWI ex U.S. | &nbsp;&nbsp; $10000000 | &nbsp;&nbsp;&nbsp; $291948 | &nbsp;&nbsp;&nbsp;&nbsp;6.44% |

---

***10. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to discretionary liquidity fees under certain circumstances.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore each Fund's results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by each Fund, and each Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker's customers, potentially resulting in losses to the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

Certain Funds invest a significant portion of their assets in issuers located in a single country or a limited number of countries. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions in that country or those countries may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the Fund's portfolio. Unanticipated or sudden political or social developments may cause uncertainty in the markets and as a result adversely affect the Fund's investments. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be more volatile and less liquid than U.S. securities and may be less subject to governmental supervision not typically associated with investing in U.S. securities. Investment percentages in specific countries are presented in the Schedule of Investments.

Certain Funds invest a significant portion of their assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds' investments.

Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. These events and actions have adversely affected, and may in the future adversely affect**,** the value and exchange rate of the Euro and may continue to significantly affect the economies of every country in Europe, including countries that do not use the Euro and non-European Union member states. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but have been, and may continue to be, significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds' investments.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***11. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Year Ended <br>07/31/23 | Year Ended <br>07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Currency Hedged MSCI ACWI ex U.S. |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp; $28571881 | &nbsp;&nbsp;&nbsp; 2370000 | &nbsp;&nbsp;&nbsp; $64248699 |
| Shares redeemed | &nbsp;&nbsp; (50000)<br>| &nbsp;&nbsp;&nbsp; (1593145)<br>| &nbsp;&nbsp;&nbsp; (200000)<br>| &nbsp;&nbsp;&nbsp; (5885665)<br>|
|  | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp; $26978736 | &nbsp;&nbsp;&nbsp; 2170000 | &nbsp;&nbsp;&nbsp; $58363034 |
| Currency Hedged MSCI EAFE |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 97950000 | &nbsp;&nbsp;&nbsp; $3322608956 | &nbsp;&nbsp;&nbsp; 26450000 | &nbsp;&nbsp;&nbsp; $792872009 |
| Shares redeemed | &nbsp;&nbsp; (23150000)<br>| &nbsp;&nbsp;&nbsp; (814689585)<br>| &nbsp;&nbsp;&nbsp; (23400000)<br>| &nbsp;&nbsp;&nbsp; (750652250)<br>|
|  | &nbsp;&nbsp; 74800000 | &nbsp;&nbsp;&nbsp; $2507919371 | &nbsp;&nbsp;&nbsp; 3050000 | &nbsp;&nbsp;&nbsp; $42219759 |
| Currency Hedged MSCI EAFE Small-Cap |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 1370000 | &nbsp;&nbsp;&nbsp; $41592001 | &nbsp;&nbsp;&nbsp; 1270000 | &nbsp;&nbsp;&nbsp; $36532479 |
| Shares redeemed | &nbsp;&nbsp; (80000)<br>| &nbsp;&nbsp;&nbsp; (2280022)<br>| &nbsp;&nbsp;&nbsp; (1180000)<br>| &nbsp;&nbsp;&nbsp; (32907296)<br>|
|  | &nbsp;&nbsp; 1290000 | &nbsp;&nbsp;&nbsp; $39311979 | &nbsp;&nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp; $3625183 |
| MSCI ACWI ex U.S. |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp; $109424934 | &nbsp;&nbsp;&nbsp; 6200000 | &nbsp;&nbsp;&nbsp; $283860289 |
| Shares redeemed | &nbsp;&nbsp; (8600000)<br>| &nbsp;&nbsp;&nbsp; (441563479)<br>| &nbsp;&nbsp;&nbsp; (4800000)<br>| &nbsp;&nbsp;&nbsp; (213391104)<br>|
|  | &nbsp;&nbsp; (6400000)<br>| &nbsp;&nbsp;&nbsp; $(332138545)<br>| &nbsp;&nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp; $70469185 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended<br> 07/31/24 | Year Ended<br> 07/31/24 | Year Ended<br> 07/31/23 | Year Ended<br> 07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| MSCI EAFE |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 33000000 | &nbsp;&nbsp;&nbsp; $2563390724 | &nbsp;&nbsp;&nbsp; 11400000 | &nbsp;&nbsp;&nbsp; $803713926 |
| Shares redeemed | &nbsp;&nbsp; (26400000)<br>| &nbsp;&nbsp;&nbsp; (1907000689)<br>| &nbsp;&nbsp;&nbsp; (49200000)<br>| &nbsp;&nbsp;&nbsp; (3253634846)<br>|
|  | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp;&nbsp; $656390035 | &nbsp;&nbsp;&nbsp; (37800000)<br>| &nbsp;&nbsp;&nbsp; $(2449920920)<br>|
| MSCI EAFE Small-Cap |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp;&nbsp; $218376996 | &nbsp;&nbsp;&nbsp; 5200000 | &nbsp;&nbsp;&nbsp; $266170873 |
| Shares redeemed | &nbsp;&nbsp; (33600000)<br>| &nbsp;&nbsp;&nbsp; (1939233779)<br>| &nbsp;&nbsp;&nbsp; (13600000)<br>| &nbsp;&nbsp;&nbsp; (796635954)<br>|
|  | &nbsp;&nbsp; (30000000)<br>| &nbsp;&nbsp;&nbsp; $(1720856783)<br>| &nbsp;&nbsp;&nbsp; (8400000)<br>| &nbsp;&nbsp;&nbsp; $(530465081)<br>|

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust's administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for Funds using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Fund's custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***12. FOREIGN WITHHOLDING TAX CLAIMS***

The iShares MSCI EAFE ETF has filed claims to recover taxes withheld by Sweden on dividend income based upon certain provisions in the Treaty on the Functioning of the European Union. The Fund has recorded receivables for all recoverable taxes withheld by Sweden based upon previous determinations made by the Swedish tax authorities. Professional and other fees associated with the filing of these claims for foreign withholding taxes have been approved by the Board as appropriate expenses of the Fund. Swedish tax claim receivables and related liabilities are disclosed in the statements of assets and liabilities. Collection of these receivables, and any payment of associated liabilities, depends upon future determinations made by the Swedish tax authorities, the outcome of which is uncertain. If such future determinations are unfavorable, the potential negative impact to the Fund, as of July 31, 2024, is $41,430,571 or $0.06 per share.

The Internal Revenue Service ("IRS") has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which each of the iShares MSCI ACWI ex U.S., iShares MSCI EAFE ETF and iShares MSCI EAFE Small-Cap ETF are able to pass through to shareholders as a foreign tax credit in the current year, each of the Funds will be able to offset the prior years' withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Funds.

The iShares MSCI EAFE ETF is seeking a closing agreement with the Internal Revenue Service to address any prior years' U.S. income tax liabilities attributable to Fund shareholders resulting from the recovery of foreign taxes. The closing agreement would result in the Fund paying a compliance fee to the IRS, on behalf of its shareholders, representing the estimated tax savings generated from foreign tax credits claimed by Fund shareholders on their tax returns in prior years. The Fund has accrued a liability for the estimated IRS compliance fee related to foreign withholding tax claims, which is disclosed in the Statements of Assets and Liabilities. The actual IRS compliance fee may differ from the estimate and that difference may be material.

***13. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

2024 iShares Annual Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the six funds listed in the table below

***Opinions on the Financial Statements*** 

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (six of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of July 31, 2024, the related statements of operations for the year ended July 31, 2024, the statements of changes in net assets for each of the two years in the period ended July 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended July 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of July 31, 2024, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended July 31, 2024 and each of the financial highlights for each of the five years in the period ended July 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| iShares Currency Hedged MSCI ACWI ex U.S. ETF |
| iShares Currency Hedged MSCI EAFE ETF |
| iShares Currency Hedged MSCI EAFE Small-Cap ETF |
| iShares MSCI ACWI ex U.S. ETF |
| iShares MSCI EAFE ETF |
| iShares MSCI EAFE Small-Cap ETF |

---

***Basis for Opinions*** 

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

September 23, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

Report of Independent Registered Public Accounting Firm

------

Important Tax Information (unaudited)

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Dividend* <br>*Income*<br>|
| Currency Hedged MSCI ACWI ex U.S. | &nbsp;&nbsp; $4870695 |
| Currency Hedged MSCI EAFE | &nbsp;&nbsp; 146568115 |
| Currency Hedged MSCI EAFE Small-Cap | &nbsp;&nbsp; 2939713 |
| MSCI ACWI ex U.S. | &nbsp;&nbsp; 115929090 |
| MSCI EAFE | &nbsp;&nbsp; 1538355680 |
| MSCI EAFE Small-Cap | &nbsp;&nbsp; 249287037 |

---

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended July 31, 2024:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Foreign* <br>*Taxes Paid*<br>|
| Currency Hedged MSCI ACWI ex U.S. | &nbsp;&nbsp; $6511038 | &nbsp;&nbsp;&nbsp;&nbsp; $640117 |
| Currency Hedged MSCI EAFE | &nbsp;&nbsp; 168456596 | &nbsp;&nbsp;&nbsp;&nbsp; 11780336 |
| Currency Hedged MSCI EAFE Small-Cap | &nbsp;&nbsp; 3733881 | &nbsp;&nbsp;&nbsp;&nbsp; 347013 |
| MSCI ACWI ex U.S. | &nbsp;&nbsp; 142331635 | &nbsp;&nbsp;&nbsp;&nbsp; 12246963 |
| MSCI EAFE | &nbsp;&nbsp; 1646158591 | &nbsp;&nbsp;&nbsp;&nbsp; 96014363 |
| MSCI EAFE Small-Cap | &nbsp;&nbsp; 310048500 | &nbsp;&nbsp;&nbsp;&nbsp; 23243498 |

---

2024 iShares Annual Financial Statements

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Regulation under the Alternative Investment Fund Managers Directive**

The Alternative Investment Fund Managers Directive, and its United Kingdom ("UK") equivalent, (the "AIFMD") impose detailed and prescriptive obligations on fund managers established in the European Union (the "EU") and the UK. These do not currently apply to managers established outside of the EU or UK, such as BFA (the "Company"). However, the Company is required to comply with certain disclosure, reporting and transparency obligations of the AIFMD because it has registered the iShares MSCI EAFE ETF and iShares MSCI EAFE Small-Cap ETF (the "Funds") to be marketed to investors in the EU and/or UK.

**Report on Remuneration**

BlackRock has a clear and well-defined pay-for-performance philosophy, and compensation programs which support that philosophy.

BlackRock operates a total compensation model for remuneration which includes a base salary, which is contractual, and a discretionary bonus scheme. Although all employees are eligible to receive a discretionary bonus, there is no contractual obligation to make a discretionary bonus award to any employees. For senior management and staff who have the ability to materially affect the risk profile of the Funds, a significant percentage of variable remuneration is deferred over time. All employees are subject to a clawback policy.

Remuneration decisions for employees are made once annually in January following the end of the performance year, based on BlackRock's full-year financial results and other non-financial goals and objectives. Alongside financial performance, individual total compensation is also based on strategic and operating results and other considerations such as management and leadership capabilities. No set formulas are established and no fixed benchmarks are used in determining annual incentive awards.

Annual incentive awards are paid from a bonus pool which is reviewed throughout the year by BlackRock's independent compensation committee, taking into account both actual and projected financial information together with information provided by the Enterprise Risk and Regulatory Compliance departments in relation to any activities, incidents or events that warrant consideration in making compensation decisions. Individuals are not involved in setting their own remuneration.

Each of the control functions (Enterprise Risk, Legal & Compliance, Finance, Human Resources and Internal Audit) each have their own organizational structures which are independent of the business units and therefore staff members in control functions are remunerated independently of the businesses they oversee. Functional bonus pools for those control functions are determined with reference to the performance of each individual function and the remuneration of the senior members of control functions is directly overseen by BlackRock's independent remuneration committee.

The Company is required under the AIFMD to make quantitative disclosures of remuneration. These disclosures are made in line with BlackRock's interpretation of currently available regulatory guidance on quantitative remuneration disclosures. As market or regulatory practice develops BlackRock may consider it appropriate to make changes to the way in which quantitative remuneration disclosures are calculated. Where such changes are made, this may result in disclosures in relation to a fund not being comparable to the disclosures made in the prior year, or in relation to other BlackRock fund disclosures in that same year. BlackRock bases its proportionality approach on a combination of factors that it is entitled to take into account based on relevant guidelines.

Remuneration information at an individual AIF level is not readily available. Disclosures are provided in relation to (a) the staff of the Company; (b) staff who are senior management; (c) staff who have the ability to materially affect the risk profile of the Funds; and (d) staff of companies to which portfolio management and risk management has been formally delegated.

All individuals included in the aggregated figures disclosed are rewarded in line with BlackRock's remuneration policy for their responsibilities across the relevant BlackRock business area. As all individuals have a number of areas of responsibilities, only the portion of remuneration for those individuals' services attributable to the Funds is included in the aggregate figures disclosed.

Members of staff and senior management of the Company typically provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the Company and across the broader BlackRock group. Conversely, members of staff and senior management of the broader BlackRock group may provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the broader BlackRock group and of the Company. Therefore, the figures disclosed are a sum of individuals' portion of remuneration attributable to the Company according to an objective apportionment methodology which acknowledges the multiple-service nature of the Company and the broader BlackRock group. Accordingly, the figures are not representative of any individual's actual remuneration or their remuneration structure.

The amount of the total remuneration awarded to the Company's staff in respect of the Company's financial year ending December 31, 2023 was USD 5.43m. This figure is comprised of fixed remuneration of USD 0.74m and variable remuneration of USD 4.68m. There was a total of 8 beneficiaries of the remuneration described above.

The amount of the aggregate remuneration awarded by the Company in respect of the Company's financial year ending December 31, 2023, to its senior management was USD 3.66m, and to other members of its staff whose actions potentially have a material impact on the risk profile of the Company or its funds was USD 1.77m.

Additional Information

------

Additional Information (continued)

**Disclosures Under the EU Sustainable Finance Disclosure Regulation** 

The iShares MSCI EAFE ETF and iShares MSCI EAFE Small-Cap ETF (the "Funds") are registered under the Alternative Investment Fund Managers Directive to be marketed to European Union ("EU") investors, as noted above. As a result, certain disclosures are required under the EU Sustainable Finance Disclosure Regulation ("SFDR").

Each Fund has not been categorized under the SFDR as an "Article 8" or "Article 9" product. In addition, each Fund's investment strategy does not take into account the criteria for environmentally sustainable economic activities under the EU sustainable investment taxonomy regulation or principal adverse impacts ("PAIs") on sustainability factors under the SFDR. PAIs are identified under the SFDR as the material impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, and anti-corruption and anti-bribery matters.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of each Fund's portfolio securities is available in each Fund Prospectus. Each Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at **iShares.com**.

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract

**iShares Currency Hedged MSCI ACWI ex U.S. ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares Currency Hedged MSCI EAFE ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio

2024 iShares Annual Financial Statements

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Board Review and Approval of Investment Advisory Contract (continued)

securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares Currency Hedged MSCI EAFE Small-Cap ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Board Review and Approval of Investment Advisory Contract

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Board Review and Approval of Investment Advisory Contract (continued)

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund.

2024 iShares Annual Financial Statements

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Board Review and Approval of Investment Advisory Contract (continued)

The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares MSCI ACWI ex U.S. ETF, iShares MSCI EAFE ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund

Board Review and Approval of Investment Advisory Contract

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Board Review and Approval of Investment Advisory Contract (continued)

in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

2024 iShares Annual Financial Statements

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Board Review and Approval of Investment Advisory Contract (continued)

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. Further, with respect to comparisons with one or more open-end index mutual funds registered under the 1940 Act managed by BFA (or an affiliate) that track the same index as the Fund or have a similar investment strategy or mandate, and have investment advisory fee rates and overall expenses (net of any waivers and reimbursements) that are lower than the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) of the Fund, the Board considered management's explanations of the relevant circumstances applicable to such mutual funds. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares MSCI EAFE Small-Cap ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

Board Review and Approval of Investment Advisory Contract

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Abbreviation** | **Currency Abbreviation** |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| CNH | Chinese Yuan |
| DKK | Danish Krone |
| EUR | Euro |
| GBP | British Pound |
| HKD | Hong Kong Dollar |
| IDR | Indonesian Rupiah |
| ILS | Israeli Shekel |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| TRY | Turkish Lira |
| TWD | New Taiwan Dollar |
| USD | United States Dollar |
| ZAR | South African Rand |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| JSC | Joint Stock Company |
| NVDR | Non-Voting Depositary Receipt |
| NVS | Non-Voting Shares |
| PJSC | Public Joint Stock Company |
| REIT | Real Estate Investment Trust |
| SDR | Swedish Depositary Receipt |

---

2024 iShares Annual Financial Statements

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc., nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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July 31, 2024

![](g40991img337741181.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2024 Annual Financial Statements <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares Breakthrough Environmental Solutions ETF \| ETEC \| NASDAQ |
| • iShares Cybersecurity and Tech ETF \| IHAK \| NYSE Arca |
| • iShares Energy Storage & Materials ETF \| IBAT \| NASDAQ |
| • iShares Exponential Technologies ETF \| XT \| NASDAQ |
| • iShares Future Cloud 5G and Tech ETF \| IDAT \| NYSE Arca |
| • iShares Genomics Immunology and Healthcare ETF \| IDNA \| NYSE Arca |
| • iShares Neuroscience and Healthcare ETF \| IBRN \| NYSE Arca |
| • iShares Robotics and Artificial Intelligence Multisector ETF \| IRBO \| NYSE Arca |
| • iShares Self-Driving EV and Tech ETF \| IDRV \| NYSE Arca |
| • iShares Virtual Work and Life Multisector ETF \| IWFH \| NYSE Arca |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 33 |
| [Statements of Operations](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_FS-Footer-iSharesReport_4)  | &nbsp;&nbsp; 36 |
| [Statements of Changes in Net Assets](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_FS-Footer-iSharesReport_7)  | &nbsp;&nbsp; 39 |
| [Financial Highlights](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_FS-Footer-iSharesReport_12)  | &nbsp;&nbsp; 44 |
| [Notes to Financial Statements](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 54 |
| [Report of Independent Registered Public Accounting Firm](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 65 |
| [Important Tax Information](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 66 |
| [Additional Information](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_SAI-Footer-iSharesReport-1261_1)  | &nbsp;&nbsp; 67 |
| [Board Review and Approval of Investment Advisory Contract](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_15Cheader-Footer-iSharesReport-329_1)  | &nbsp;&nbsp; 68 |
| [Glossary of Terms Used in this Report](#xx_44b4bec8-b518-4c5f-a859-8e418ae8b43f_Abbreviations-Footer-iSharesReport-574_1)  | &nbsp;&nbsp; 76 |

---

------

Schedule of Investments

July 31, 2024

**iShares® Breakthrough Environmental Solutions ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Automobile Components — 6.2%** | **Automobile Components — 6.2%** | **Automobile Components — 6.2%** |
| BorgWarner Inc. | &nbsp;&nbsp; 5920 | $209035 |
| **Automobiles — 17.5%** | **Automobiles — 17.5%** | **Automobiles — 17.5%** |
| Li Auto Inc.<sup>(a)</sup> | &nbsp;&nbsp; 10700 | 104670 |
| Lucid Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 17928 | 63106 |
| NIO Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 22440 | 100010 |
| Tesla Inc.<sup>(a)</sup> | &nbsp;&nbsp; 814 | 188905 |
| XPeng Inc.<sup>(a)</sup> | &nbsp;&nbsp; 26000 | 105093 |
| Yadea Group Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 18000 | 24258 |
|  |  | 586042 |
| **Chemicals — 8.4%** | **Chemicals — 8.4%** | **Chemicals — 8.4%** |
| Johnson Matthey PLC | &nbsp;&nbsp; 7812 | 164600 |
| Umicore SA | &nbsp;&nbsp; 8460 | 116191 |
|  |  | 280791 |
| **Commercial Services & Supplies — 0.4%** | **Commercial Services & Supplies — 0.4%** | **Commercial Services & Supplies — 0.4%** |
| Ecopro HN Co. Ltd. | &nbsp;&nbsp; 388 | 14784 |
| **Electrical Equipment — 17.6%** | **Electrical Equipment — 17.6%** | **Electrical Equipment — 17.6%** |
| Advanced Energy Solution Holding Co. Ltd. | &nbsp;&nbsp; 1000 | 16027 |
| Doosan Fuel Cell Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1808 | 26614 |
| Goldwind Science & Technology Co Ltd., Class A | &nbsp;&nbsp; 4400 | 4880 |
| Kempower OYJ<sup>(a)</sup> | &nbsp;&nbsp; 694 | 11236 |
| Ming Yang Smart Energy Group Ltd., Class A | &nbsp;&nbsp; 3600 | 4966 |
| Nordex SE<sup>(a)</sup> | &nbsp;&nbsp; 2700 | 40935 |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 3763 | 109272 |
| Tatung Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 72000 | 110328 |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 3748 | 92752 |
| Voltronic Power Technology Corp. | &nbsp;&nbsp; 3000 | 170745 |
|  |  | 587755 |
| **Electronic Equipment, Instruments & Components — 5.3%** | **Electronic Equipment, Instruments & Components — 5.3%** | **Electronic Equipment, Instruments & Components — 5.3%** |
| Everdisplay Optronics Shanghai Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 35200 | 9892 |
| Samsung SDI Co. Ltd. | &nbsp;&nbsp; 708 | 166471 |
|  |  | 176363 |
| **Leisure Products — 1.8%** | **Leisure Products — 1.8%** | **Leisure Products — 1.8%** |
| Merida Industry Co. Ltd. | &nbsp;&nbsp; 8000 | 61266 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Machinery — 18.7%** | **Machinery — 18.7%** | **Machinery — 18.7%** |
| Kurita Water Industries Ltd. | &nbsp;&nbsp; 4300 | $183519 |
| NGK Insulators Ltd. | &nbsp;&nbsp; 5600 | 75684 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 4628 | 95637 |
| Xylem Inc./New York | &nbsp;&nbsp; 704 | 93984 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 5100 | 177499 |
|  |  | 626323 |
| **Semiconductors & Semiconductor Equipment — 23.5%** | **Semiconductors & Semiconductor Equipment — 23.5%** | **Semiconductors & Semiconductor Equipment — 23.5%** |
| Daqo New Energy Corp., ADR<sup>(a)</sup> | &nbsp;&nbsp; 2204 | 38636 |
| Duk San Neolux Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 463 | 11654 |
| Enphase Energy Inc.<sup>(a)</sup> | &nbsp;&nbsp; 879 | 101182 |
| First Solar Inc.<sup>(a)</sup> | &nbsp;&nbsp; 390 | 84236 |
| GCL Technology Holdings Ltd. | &nbsp;&nbsp; 512000 | 72037 |
| Hangzhou First Applied Material Co. Ltd., Class A | &nbsp;&nbsp; 7868 | 16934 |
| JA Solar Technology Co. Ltd., Class A | &nbsp;&nbsp; 6880 | 10289 |
| Jinko Solar Co. Ltd. | &nbsp;&nbsp; 15924 | 16139 |
| LONGi Green Energy Technology Co. Ltd., Class A | &nbsp;&nbsp; 25000 | 50258 |
| Shanghai Aiko Solar Energy Co. Ltd. | &nbsp;&nbsp; 3600 | 4704 |
| SMA Solar Technology AG | &nbsp;&nbsp; 162 | 4357 |
| SolarEdge Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1248 | 36017 |
| TCL Zhonghuan Renewable Energy Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 14800 | 17917 |
| TSEC Corp. | &nbsp;&nbsp; 10465 | 8852 |
| Universal Display Corp. | &nbsp;&nbsp; 984 | 219058 |
| WONIK IPS Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1108 | 30736 |
| Xinyi Solar Holdings Ltd. | &nbsp;&nbsp; 134000 | 63580 |
|  |  | 786586 |
| **Total Investments — 99.4%** <br>**(Cost: $3,848,435)** | **Total Investments — 99.4%** <br>**(Cost: $3,848,435)** | 3328945 |
| **Other Assets Less Liabilities — 0.6%** | **Other Assets Less Liabilities — 0.6%** | 18469 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $3347414 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> 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.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<sup>(a)</sup><br>| $130372 | $— | &nbsp;&nbsp; $(130292 )<sup>(b)</sup><br>| &nbsp;&nbsp; $(78)<br>| $(2)<br>| $— |  | $6818 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares<sup>(a)</sup> |  | 0 <br><sup>(b)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  |  |  | 129 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(78)<br>| $(2)<br>| $— |  | $6947 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> As of period end, the entity is no longer held.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> 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. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Breakthrough Environmental Solutions ETF**

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Micro E-Mini Russell 2000 Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $11 | &nbsp;&nbsp; $1149 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1149 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1149 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $626 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $626 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $592 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $592 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $9854 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $1209995 | &nbsp;&nbsp; $2118950 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3328945 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Breakthrough Environmental Solutions ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $1149 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1149 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® Cybersecurity and Tech ETF** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Communications Equipment — 10.5%** | **Communications Equipment — 10.5%** | **Communications Equipment — 10.5%** |
| Accton Technology Corp. | &nbsp;&nbsp; 1997000 | $31303528 |
| Calix Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 595121 | 24477327 |
| Juniper Networks Inc. | &nbsp;&nbsp; 929544 | 35034513 |
|  |  | 90815368 |
| **IT Services — 10.9%** | **IT Services — 10.9%** | **IT Services — 10.9%** |
| Akamai Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 370544 | 36417064 |
| Change Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 378300 | 2823232 |
| Netcompany Group A/S<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 446329 | 18996569 |
| Okta Inc.<sup>(a)</sup> | &nbsp;&nbsp; 378001 | 35509414 |
|  |  | 93746279 |
| **Professional Services — 13.2%** | **Professional Services — 13.2%** | **Professional Services — 13.2%** |
| Booz Allen Hamilton Holding Corp., Class A | &nbsp;&nbsp; 217773 | 31209048 |
| CACI International Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 79139 | 36521066 |
| My EG Services Bhd | &nbsp;&nbsp; 47680700 | 10287730 |
| Science Applications International Corp. | &nbsp;&nbsp; 285612 | 35530133 |
|  |  | 113547977 |
| **Software — 65.2%** | **Software — 65.2%** | **Software — 65.2%** |
| A10 Networks Inc. | &nbsp;&nbsp; 733866 | 9606306 |
| Ahnlab Inc. | &nbsp;&nbsp; 59421 | 2505606 |
| Alarm.com Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 484991 | 34216115 |
| BlackBerry Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 5914995 | 14266421 |
| Check Point Software Technologies Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 211265 | 38756564 |
| Clear Secure Inc., Class A | &nbsp;&nbsp; 789540 | 16856679 |
| Crowdstrike Holdings Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 94646 | 21954086 |
| CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 137703 | 35304295 |
| Darktrace PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 3871860 | 29446035 |
| Digital Arts Inc. | &nbsp;&nbsp; 108300 | 3438232 |
| Fortinet Inc.<sup>(a)</sup> | &nbsp;&nbsp; 553329 | 32115215 |
| MIA Teknoloji A/S, NVS<sup>(a)</sup> | &nbsp;&nbsp; 2707824 | 4860842 |
| OneSpan Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 361345 | 5347906 |
| Palo Alto Networks Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 109448 | 35541049 |
| Qualys Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 242939 | 36231922 |
| Radware Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 323065 | 7320653 |
| Rapid7 Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 618311 | 24324355 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| SentinelOne Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 1923467 | $44047394 |
| TeamViewer SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 1401657 | 18904052 |
| Tenable Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 816929 | 37513380 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 729000 | 34942782 |
| Varonis Systems Inc., Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 780105 | 43007189 |
| Zscaler Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 182569 | 32743750 |
|  |  | 563250828 |
| **Total Long-Term Investments — 99.8%** <br>**(Cost: $756,905,368)** | **Total Long-Term Investments — 99.8%** <br>**(Cost: $756,905,368)** | 861360452 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 11.5%** | **Money Market Funds — 11.5%** | **Money Market Funds — 11.5%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 97819744 | 97858871 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 1640000 | 1640000 |
| **Total Short-Term Securities — 11.5%** <br>**(Cost: $99,496,899)** | **Total Short-Term Securities — 11.5%** <br>**(Cost: $99,496,899)** | 99498871 |
| **Total Investments — 111.3%** <br>**(Cost: $856,402,267)** | **Total Investments — 111.3%** <br>**(Cost: $856,402,267)** | 960859323 |
| **Liabilities in Excess of Other Assets — (11.3)%** | **Liabilities in Excess of Other Assets — (11.3)%** | (97228000)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $863631323 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $27934894<br> $69924187 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(3622)<br>| $3412 | $97858871 | 97819744 | $110232 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 1260000<br> 380000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 1640000 | 1640000 | 64354 | &nbsp;&nbsp; — |
|  |  |  | $(3622)<br>| $3412 | $99498871 |  | $174586 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Cybersecurity and Tech ETF** 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| E-Mini Technology Select Sector Index | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $1777 | &nbsp;&nbsp; $(72909)<br>|

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $72909 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $72909 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $461236 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $461236 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(99835)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(99835)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $1577715 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $708712686 | &nbsp;&nbsp; $152647766 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $861360452 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 99498871 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 99498871 |
|  | &nbsp;&nbsp; $808211557 | &nbsp;&nbsp; $152647766 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $960859323 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Cybersecurity and Tech ETF** 

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $(72909)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(72909)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® Energy Storage & Materials ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Automobile Components — 1.8%** | **Automobile Components — 1.8%** | **Automobile Components — 1.8%** |
| QuantumScape Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp; 13319 | $86041 |
| Sebang Global Battery Co. Ltd. | &nbsp;&nbsp; 252 | 16991 |
| Tianneng Power International Ltd. | &nbsp;&nbsp; 28000 | 18918 |
|  |  | 121950 |
| **Automobiles — 0.8%** | **Automobiles — 0.8%** | **Automobiles — 0.8%** |
| Yadea Group Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 42000 | 56603 |
| **Chemicals — 43.6%** | **Chemicals — 43.6%** | **Chemicals — 43.6%** |
| Air Liquide SA | &nbsp;&nbsp; 2375 | 433339 |
| Air Products and Chemicals Inc. | &nbsp;&nbsp; 1456 | 384165 |
| Arkema SA | &nbsp;&nbsp; 144 | 12995 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 48500 | 349746 |
| BASF SE | &nbsp;&nbsp; 8469 | 394292 |
| Dow Inc. | &nbsp;&nbsp; 1820 | 99135 |
| Evonik Industries AG | &nbsp;&nbsp; 651 | 13184 |
| Hanwha Solutions Corp. | &nbsp;&nbsp; 287 | 5216 |
| Kolon Industries Inc. | &nbsp;&nbsp; 49 | 1328 |
| LG Chem Ltd. | &nbsp;&nbsp; 1706 | 383652 |
| Linde PLC | &nbsp;&nbsp; 474 | 214959 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 54600 | 322481 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 700 | 20238 |
| Nippon Shokubai Co. Ltd. | &nbsp;&nbsp; 700 | 7590 |
| Resonac Holdings Corp. | &nbsp;&nbsp; 700 | 17378 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 5100 | 226597 |
| Solvay SA | &nbsp;&nbsp; 196 | 6900 |
| Toray Industries Inc. | &nbsp;&nbsp; 4200 | 21836 |
| Umicore SA | &nbsp;&nbsp; 455 | 6249 |
| Zeon Corp. | &nbsp;&nbsp; 700 | 6183 |
|  |  | 2927463 |
| **Electrical Equipment — 28.4%** | **Electrical Equipment — 28.4%** | **Electrical Equipment — 28.4%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 3626 | 201267 |
| Advanced Energy Solution Holding Co. Ltd. | &nbsp;&nbsp; 2000 | 32054 |
| Alfen NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 831 | 15364 |
| Ballard Power Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 9346 | 21309 |
| Bloom Energy Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp; 7791 | 105490 |
| Ceres Power Holdings PLC<sup>(a)</sup> | &nbsp;&nbsp; 4620 | 12729 |
| ChargePoint Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 15205 | 32995 |
| Contemporary Amperex Technology Co. Ltd., Class A | &nbsp;&nbsp; 10300 | 265476 |
| Doosan Fuel Cell Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1638 | 24112 |
| Eaton Corp. PLC | &nbsp;&nbsp; 623 | 189884 |
| EnerSys | &nbsp;&nbsp; 1554 | 170831 |
| Eve Energy Co. Ltd., Class A | &nbsp;&nbsp; 4900 | 26070 |
| Fluence Energy Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2478 | 40590 |
| FuelCell Energy Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 16911 | 8564 |
| Furukawa Electric Co. Ltd. | &nbsp;&nbsp; 2800 | 76599 |
| Gotion High-tech Co. Ltd., Class A | &nbsp;&nbsp; 3500 | 9482 |
| GS Yuasa Corp. | &nbsp;&nbsp; 4000 | 71173 |
| LG Energy Solution Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1176 | 279947 |
| NEL ASA<sup>(a)</sup> | &nbsp;&nbsp; 64414 | 34705 |
| Phihong Technology Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 14000 | 18184 |
| Plug Power Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 25805 | 63738 |
| Schneider Electric SE | &nbsp;&nbsp; 833 | 200782 |
| Stem Inc.<sup>(a)</sup> | &nbsp;&nbsp; 6223 | 7592 |
|  |  | 1908937 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Electronic Equipment, Instruments & Components — 16.0%** | **Electronic Equipment, Instruments & Components — 16.0%** | **Electronic Equipment, Instruments & Components — 16.0%** |
| Delta Electronics Inc. | &nbsp;&nbsp; 5000 | $64219 |
| Kyocera Corp. | &nbsp;&nbsp; 3500 | 44082 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 20300 | 451634 |
| Samsung SDI Co. Ltd. | &nbsp;&nbsp; 1946 | 457562 |
| Sang-A Frontec Co. Ltd., NVS | &nbsp;&nbsp; 427 | 6719 |
| TDK Corp. | &nbsp;&nbsp; 700 | 48834 |
|  |  | 1073050 |
| **Machinery — 3.1%** | **Machinery — 3.1%** | **Machinery — 3.1%** |
| Kaori Heat Treatment Co. Ltd. | &nbsp;&nbsp; 4000 | 43492 |
| NGK Insulators Ltd. | &nbsp;&nbsp; 12100 | 163532 |
|  |  | 207024 |
| **Semiconductors & Semiconductor Equipment — 5.1%** | **Semiconductors & Semiconductor Equipment — 5.1%** | **Semiconductors & Semiconductor Equipment — 5.1%** |
| Enphase Energy Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2457 | 282825 |
| SolarEdge Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2209 | 63752 |
|  |  | 346577 |
| **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** |
| Darfon Electronics Corp. | &nbsp;&nbsp; 7000 | 11867 |
| **Total Common Stocks — 99.0%** <br>**(Cost: $6,978,447)** | **Total Common Stocks — 99.0%** <br>**(Cost: $6,978,447)** | 6653471 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Chemicals — 0.4%** | **Chemicals — 0.4%** | **Chemicals — 0.4%** |
| LG Chem Ltd., Preference Shares, NVS | &nbsp;&nbsp; 189 | 29456 |
| **Total Preferred Stocks — 0.4%** <br>**(Cost: $41,794)** | **Total Preferred Stocks — 0.4%** <br>**(Cost: $41,794)** | 29456 |
| **Total Long-Term Investments — 99.4%** <br>**(Cost: $7,020,241)** | **Total Long-Term Investments — 99.4%** <br>**(Cost: $7,020,241)** | 6682927 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.3%** | **Money Market Funds — 0.3%** | **Money Market Funds — 0.3%** |
| BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 17882 | 17890 |
| **Total Short-Term Securities — 0.3%** <br>**(Cost: $17,888)** | **Total Short-Term Securities — 0.3%** <br>**(Cost: $17,888)** | 17890 |
| **Total Investments — 99.7%** <br>**(Cost: $7,038,129)** | **Total Investments — 99.7%** <br>**(Cost: $7,038,129)** | 6700817 |
| **Other Assets Less Liabilities — 0.3%** | **Other Assets Less Liabilities — 0.3%** | 18015 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $6718832 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> 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. 

<sup>(c)</sup> All or a portion of this security is on loan.

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Energy Storage & Materials ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*03/19/24*<sup>(a)</sup> <br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency Shares | $—<br> &nbsp;&nbsp; $17880 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— | $8 | $2 | $17890 | 17882 | $49 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares<sup>(d)</sup> | —<br> &nbsp;&nbsp; 0 <br><sup>(b)</sup><br>| &nbsp;&nbsp; — |  |  |  |  | 62 | &nbsp;&nbsp; — |
|  |  |  | $8 | $2 | $17890 |  | $111 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> 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. 

<sup>(d)</sup> As of period end, the entity is no longer held.

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Mini TOPIX Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $19 | &nbsp;&nbsp; $281 |
| Micro E-Mini Russell 2000 Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 1149 |
|  |  |  |  | &nbsp;&nbsp; $1430 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1430 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1430 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $502 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $502 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1430 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1430 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Energy Storage & Materials ETF**

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $52096 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $1771870 | &nbsp;&nbsp; $4881601 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6653471 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 29456 | &nbsp;&nbsp; — | &nbsp;&nbsp; 29456 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 17890 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 17890 |
|  | &nbsp;&nbsp; $1789760 | &nbsp;&nbsp; $4911057 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6700817 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $1149 | &nbsp;&nbsp; $281 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1430 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® Exponential Technologies ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 1.3%** | **Australia — 1.3%** | **Australia — 1.3%** |
| Technology One Ltd. | &nbsp;&nbsp; 1619841 | $21881561 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 371681 | 23289946 |
|  |  | 45171507 |
| **Austria — 0.4%** | **Austria — 0.4%** | **Austria — 0.4%** |
| Verbund AG | &nbsp;&nbsp; 175945 | 14127609 |
| **Belgium — 1.0%** | **Belgium — 1.0%** | **Belgium — 1.0%** |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 36390 | 18605705 |
| Melexis NV | &nbsp;&nbsp; 178301 | 15543788 |
|  |  | 34149493 |
| **Canada — 2.3%** | **Canada — 2.3%** | **Canada — 2.3%** |
| BlackBerry Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 4056443 | 9783765 |
| Boralex Inc., Class A | &nbsp;&nbsp; 700510 | 17382735 |
| Brookfield Renewable Corp., Class A | &nbsp;&nbsp; 602131 | 16925871 |
| CGI Inc.<sup>(a)</sup> | &nbsp;&nbsp; 155887 | 17775171 |
| Northland Power Inc. | &nbsp;&nbsp; 987597 | 16516579 |
|  |  | 78384121 |
| **China — 5.0%** | **China — 5.0%** | **China — 5.0%** |
| Baidu Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1225250 | 13585083 |
| BYD Co. Ltd., Class A | &nbsp;&nbsp; 621800 | 21267001 |
| China Longyuan Power Group Corp. Ltd., Class H | &nbsp;&nbsp; 24048000 | 21562809 |
| China Resources Power Holdings Co. Ltd. | &nbsp;&nbsp; 8528000 | 23459110 |
| Ganfeng Lithium Group Co. Ltd., Class A | &nbsp;&nbsp; 4123942 | 16076476 |
| Genscript Biotech Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 3992000 | 6360089 |
| Innovent Biologics Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 3277000 | 16222205 |
| Li Auto Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1015700 | 9935792 |
| LONGi Green Energy Technology Co. Ltd., Class A | &nbsp;&nbsp; 5944300 | 11949827 |
| NIO Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 2115000 | 9426053 |
| Tongwei Co. Ltd., Class A | &nbsp;&nbsp; 5241600 | 13161623 |
| XPeng Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2157200 | 8719477 |
|  |  | 171725545 |
| **Denmark — 1.0%** | **Denmark — 1.0%** | **Denmark — 1.0%** |
| Orsted A/S<sup>(a)(c)</sup> | &nbsp;&nbsp; 331606 | 19765045 |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 612933 | 15168276 |
|  |  | 34933321 |
| **Finland — 0.6%** | **Finland — 0.6%** | **Finland — 0.6%** |
| Nokia OYJ | &nbsp;&nbsp; 5521771 | 21700011 |
| **France — 2.4%** | **France — 2.4%** | **France — 2.4%** |
| Capgemini SE | &nbsp;&nbsp; 81098 | 16099854 |
| Dassault Systemes SE | &nbsp;&nbsp; 348102 | 13196117 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 76463 | 15258239 |
| SOITEC<sup>(a)(b)</sup> | &nbsp;&nbsp; 98164 | 12656422 |
| STMicroelectronics NV | &nbsp;&nbsp; 373820 | 12359548 |
| Worldline SA/France<sup>(a)(c)</sup> | &nbsp;&nbsp; 935168 | 10611234 |
|  |  | 80181414 |
| **Germany — 2.7%** | **Germany — 2.7%** | **Germany — 2.7%** |
| Infineon Technologies AG | &nbsp;&nbsp; 444054 | 15425609 |
| Merck KGaA | &nbsp;&nbsp; 108919 | 19460805 |
| Qiagen NV, NVS | &nbsp;&nbsp; 389426 | 17327097 |
| SAP SE | &nbsp;&nbsp; 101660 | 21492981 |
| Siemens AG, Registered | &nbsp;&nbsp; 97023 | 17764619 |
|  |  | 91471111 |
| **Hong Kong — 0.5%** | **Hong Kong — 0.5%** | **Hong Kong — 0.5%** |
| ASMPT Ltd. | &nbsp;&nbsp; 1664400 | 17402228 |
| **India — 1.2%** | **India — 1.2%** | **India — 1.2%** |
| Infosys Ltd. | &nbsp;&nbsp; 926086 | 20535776 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Tata Consultancy Services Ltd. | &nbsp;&nbsp; 376863 | $19789341 |
|  |  | 40325117 |
| **Israel — 0.5%** | **Israel — 0.5%** | **Israel — 0.5%** |
| Nice Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 83801 | 15125167 |
| **Italy — 0.8%** | **Italy — 0.8%** | **Italy — 0.8%** |
| Infrastrutture Wireless Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 1286710 | 14317505 |
| Nexi SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 2163362 | 13278018 |
|  |  | 27595523 |
| **Japan — 6.2%** | **Japan — 6.2%** | **Japan — 6.2%** |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 912700 | 16518305 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 576800 | 23491716 |
| Denso Corp. | &nbsp;&nbsp; 1077900 | 17676489 |
| FANUC Corp. | &nbsp;&nbsp; 601500 | 17832521 |
| Harmonic Drive Systems Inc. | &nbsp;&nbsp; 592100 | 16272049 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 817100 | 18178819 |
| Nabtesco Corp. | &nbsp;&nbsp; 911200 | 18038919 |
| Taiyo Yuden Co. Ltd. | &nbsp;&nbsp; 676800 | 20337922 |
| TDK Corp. | &nbsp;&nbsp; 360500 | 25149308 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 104100 | 21782649 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 456400 | 15884461 |
|  |  | 211163158 |
| **Netherlands — 2.2%** | **Netherlands — 2.2%** | **Netherlands — 2.2%** |
| Adyen NV<sup>(a)(c)</sup> | &nbsp;&nbsp; 13470 | 16477018 |
| ASM International NV | &nbsp;&nbsp; 33147 | 22805831 |
| ASML Holding NV | &nbsp;&nbsp; 23732 | 22098557 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 118278 | 15237117 |
|  |  | 76618523 |
| **Norway — 0.6%** | **Norway — 0.6%** | **Norway — 0.6%** |
| Nordic Semiconductor ASA<sup>(a)</sup> | &nbsp;&nbsp; 1706362 | 21104885 |
| **Portugal — 0.4%** | **Portugal — 0.4%** | **Portugal — 0.4%** |
| EDP Renovaveis SA | &nbsp;&nbsp; 926033 | 14396140 |
| **South Korea — 1.6%** | **South Korea — 1.6%** | **South Korea — 1.6%** |
| Samsung Electro-Mechanics Co. Ltd. | &nbsp;&nbsp; 147533 | 17246967 |
| Samsung SDI Co. Ltd. | &nbsp;&nbsp; 52091 | 12248118 |
| SK Hynix Inc. | &nbsp;&nbsp; 171245 | 24560555 |
|  |  | 54055640 |
| **Spain — 1.2%** | **Spain — 1.2%** | **Spain — 1.2%** |
| Amadeus IT Group SA | &nbsp;&nbsp; 238957 | 15737905 |
| Cellnex Telecom SA<sup>(c)</sup> | &nbsp;&nbsp; 432301 | 15077236 |
| Corp. ACCIONA Energias Renovables SA | &nbsp;&nbsp; 533755 | 11272851 |
|  |  | 42087992 |
| **Sweden — 1.1%** | **Sweden — 1.1%** | **Sweden — 1.1%** |
| Swedish Orphan Biovitrum AB<sup>(a)</sup> | &nbsp;&nbsp; 697504 | 18223735 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 2868684 | 19724665 |
|  |  | 37948400 |
| **Switzerland — 0.5%** | **Switzerland — 0.5%** | **Switzerland — 0.5%** |
| Novartis AG, Registered | &nbsp;&nbsp; 165100 | 18429754 |
| **Taiwan — 3.4%** | **Taiwan — 3.4%** | **Taiwan — 3.4%** |
| Advantech Co. Ltd. | &nbsp;&nbsp; 1485000 | 15795290 |
| MediaTek Inc. | &nbsp;&nbsp; 560000 | 21327667 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 894000 | 26079133 |
| United Microelectronics Corp. | &nbsp;&nbsp; 10502000 | 16730655 |
| Win Semiconductors Corp.<sup>(a)</sup> | &nbsp;&nbsp; 3127000 | 12974402 |
| Yageo Corp. | &nbsp;&nbsp; 881000 | 21483820 |
|  |  | 114390967 |
| **United Kingdom — 2.4%** | **United Kingdom — 2.4%** | **United Kingdom — 2.4%** |
| AstraZeneca PLC | &nbsp;&nbsp; 131427 | 20879909 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Exponential Technologies ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| GSK PLC | &nbsp;&nbsp; 922189 | $17907787 |
| Ocado Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 2140419 | 11192642 |
| Sage Group PLC (The) | &nbsp;&nbsp; 1161899 | 16241669 |
| Wise PLC, Class A<sup>(a)</sup> | &nbsp;&nbsp; 1661102 | 15294741 |
|  |  | 81516748 |
| **United States — 59.6%** | **United States — 59.6%** | **United States — 59.6%** |
| AbbVie Inc. | &nbsp;&nbsp; 109595 | 20310145 |
| Accenture PLC, Class A | &nbsp;&nbsp; 49932 | 16508518 |
| Advanced Micro Devices Inc.<sup>(a)</sup> | &nbsp;&nbsp; 143097 | 20674655 |
| Akamai Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 146588 | 14406669 |
| Albemarle Corp. | &nbsp;&nbsp; 149803 | 14032047 |
| Alnylam Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 96763 | 22977342 |
| Alphabet Inc., Class A | &nbsp;&nbsp; 126459 | 21692777 |
| Amazon.com Inc.<sup>(a)</sup> | &nbsp;&nbsp; 120522 | 22535204 |
| Analog Devices Inc. | &nbsp;&nbsp; 90593 | 20961408 |
| Ansys Inc.<sup>(a)</sup> | &nbsp;&nbsp; 59226 | 18575050 |
| Applied Materials Inc. | &nbsp;&nbsp; 113002 | 23979024 |
| Aptiv PLC<sup>(a)</sup> | &nbsp;&nbsp; 198362 | 13764339 |
| Arista Networks Inc.<sup>(a)</sup> | &nbsp;&nbsp; 77611 | 26896092 |
| Atlassian Corp., NVS<sup>(a)</sup> | &nbsp;&nbsp; 89536 | 15809372 |
| Autodesk Inc.<sup>(a)</sup> | &nbsp;&nbsp; 77008 | 19061020 |
| Biogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 71926 | 15334623 |
| BioMarin Pharmaceutical Inc.<sup>(a)</sup> | &nbsp;&nbsp; 177245 | 14947071 |
| Blackbaud Inc.<sup>(a)</sup> | &nbsp;&nbsp; 201843 | 16022297 |
| Box Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 693383 | 19497930 |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp; 340829 | 16209827 |
| Broadcom Inc. | &nbsp;&nbsp; 181930 | 29232512 |
| Cadence Design Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 63108 | 16891487 |
| Chart Industries Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 138189 | 22259484 |
| Cisco Systems Inc. | &nbsp;&nbsp; 342189 | 16579057 |
| Cloudflare Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 219642 | 17022255 |
| Cogent Communications Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 249239 | 17593781 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp; 235862 | 17850036 |
| Coinbase Global Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 123315 | 27666953 |
| CRISPR Therapeutics AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 238171 | 13644817 |
| Crowdstrike Holdings Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 69567 | 16136761 |
| Crown Castle Inc. | &nbsp;&nbsp; 152339 | 16769477 |
| Datadog Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 147774 | 17206805 |
| DocuSign Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 355084 | 19700060 |
| Dropbox Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 609314 | 14574791 |
| DuPont de Nemours Inc. | &nbsp;&nbsp; 235704 | 19728425 |
| Dynatrace Inc.<sup>(a)</sup> | &nbsp;&nbsp; 316647 | 13907136 |
| Elastic NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 148332 | 16267570 |
| Eli Lilly & Co. | &nbsp;&nbsp; 27412 | 22046649 |
| Enphase Energy Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 160517 | 18477112 |
| FactSet Research Systems Inc. | &nbsp;&nbsp; 37905 | 15658176 |
| First Solar Inc.<sup>(a)</sup> | &nbsp;&nbsp; 113962 | 24614652 |
| Five9 Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 202264 | 9010861 |
| Fortinet Inc.<sup>(a)</sup> | &nbsp;&nbsp; 324109 | 18811286 |
| Gen Digital Inc. | &nbsp;&nbsp; 749378 | 19476334 |
| Guidewire Software Inc.<sup>(a)</sup> | &nbsp;&nbsp; 167738 | 25172442 |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp; 1041396 | 20734194 |
| Hubbell Inc., Class B | &nbsp;&nbsp; 53973 | 21354418 |
| HubSpot Inc.<sup>(a)</sup> | &nbsp;&nbsp; 34120 | 16958664 |
| Illumina Inc.<sup>(a)</sup> | &nbsp;&nbsp; 149285 | 18302341 |
| Incyte Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 298854 | 19446430 |
| Intel Corp. | &nbsp;&nbsp; 584321 | 17962028 |
| International Business Machines Corp. | &nbsp;&nbsp; 101418 | 19486455 |
| Intuitive Surgical Inc.<sup>(a)</sup> | &nbsp;&nbsp; 52707 | 23434059 |
| Ionis Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 333867 | 16513062 |
| Jazz Pharmaceuticals PLC<sup>(a)</sup> | &nbsp;&nbsp; 139035 | 15328609 |
| Keysight Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 120442 | 16810090 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| KLA Corp. | &nbsp;&nbsp; 30934 | $25460847 |
| Lam Research Corp. | &nbsp;&nbsp; 23585 | 21727445 |
| Manhattan Associates Inc.<sup>(a)</sup> | &nbsp;&nbsp; 73572 | 18788817 |
| MarketAxess Holdings Inc. | &nbsp;&nbsp; 65995 | 14751862 |
| Marvell Technology Inc.<sup>(b)</sup> | &nbsp;&nbsp; 331768 | 22221821 |
| Merck & Co. Inc. | &nbsp;&nbsp; 152606 | 17264317 |
| Mettler-Toledo International Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 15274 | 23232212 |
| Microchip Technology Inc. | &nbsp;&nbsp; 200255 | 17778639 |
| Micron Technology Inc. | &nbsp;&nbsp; 226391 | 24862260 |
| Microsoft Corp. | &nbsp;&nbsp; 43709 | 18285660 |
| Moderna Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 206570 | 24627275 |
| MongoDB Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 43773 | 11046554 |
| Monolithic Power Systems Inc. | &nbsp;&nbsp; 30038 | 25925497 |
| NextEra Energy Inc. | &nbsp;&nbsp; 274623 | 20978451 |
| Nvidia Corp. | &nbsp;&nbsp; 363127 | 42493122 |
| NXP Semiconductors NV | &nbsp;&nbsp; 80955 | 21304118 |
| Okta Inc.<sup>(a)</sup> | &nbsp;&nbsp; 226006 | 21231004 |
| ON Semiconductor Corp.<sup>(a)</sup> | &nbsp;&nbsp; 243391 | 19045346 |
| Palantir Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 971703 | 26129094 |
| Palo Alto Networks Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 57857 | 18787904 |
| PTC Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 103034 | 18324597 |
| Qorvo Inc.<sup>(a)</sup> | &nbsp;&nbsp; 171266 | 20517667 |
| Qualcomm Inc. | &nbsp;&nbsp; 126457 | 22882394 |
| Qualys Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 89858 | 13401422 |
| Regeneron Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 19287 | 20814338 |
| Revvity Inc. | &nbsp;&nbsp; 184397 | 23162107 |
| Roper Technologies Inc. | &nbsp;&nbsp; 29996 | 16340321 |
| Salesforce Inc. | &nbsp;&nbsp; 67819 | 17551557 |
| SBA Communications Corp., Class A | &nbsp;&nbsp; 63636 | 13970647 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp; 212703 | 21731866 |
| SEI Investments Co. | &nbsp;&nbsp; 277914 | 18853686 |
| SentinelOne Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 724309 | 16586676 |
| ServiceNow Inc.<sup>(a)</sup> | &nbsp;&nbsp; 24741 | 20148823 |
| Skyworks Solutions Inc. | &nbsp;&nbsp; 166038 | 18865238 |
| Snowflake Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 92835 | 12103827 |
| SoFi Technologies Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 2167246 | 16341035 |
| Synopsys Inc.<sup>(a)</sup> | &nbsp;&nbsp; 31026 | 17322436 |
| Teradyne Inc. | &nbsp;&nbsp; 181314 | 23781144 |
| Tesla Inc.<sup>(a)</sup> | &nbsp;&nbsp; 71683 | 16635474 |
| Texas Instruments Inc. | &nbsp;&nbsp; 104522 | 21302629 |
| Toast Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1108895 | 29008693 |
| Tradeweb Markets Inc., Class A | &nbsp;&nbsp; 180449 | 20152544 |
| Twilio Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 250058 | 14785930 |
| Tyler Technologies Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 41081 | 23338527 |
| Varonis Systems Inc., Class B<sup>(a)</sup> | &nbsp;&nbsp; 386535 | 21309675 |
| Veeva Systems Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 94068 | 18054471 |
| Waters Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 57909 | 19473639 |
| Western Digital Corp.<sup>(a)</sup> | &nbsp;&nbsp; 355658 | 23846869 |
| Zscaler Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 85612 | 15354512 |
|  |  | 2038729668 |
| **Total Common Stocks — 98.9%** <br>**(Cost: $2,668,355,599)** | **Total Common Stocks — 98.9%** <br>**(Cost: $2,668,355,599)** | 3382734042 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Chile — 0.4%** | **Chile — 0.4%** | **Chile — 0.4%** |
| Sociedad Quimica y Minera de Chile SA, Class B, <br> Preference Shares<br>| &nbsp;&nbsp; 341124 | 12933285 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Exponential Technologies ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany — 0.4%** | **Germany — 0.4%** | **Germany — 0.4%** |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 53997 | $15314730 |
| **Total Preferred Stocks — 0.8%** <br>**(Cost: $39,150,208)** | **Total Preferred Stocks — 0.8%** <br>**(Cost: $39,150,208)** | 28248015 |
| **Total Long-Term Investments — 99.7%** <br>**(Cost: $2,707,505,807)** | **Total Long-Term Investments — 99.7%** <br>**(Cost: $2,707,505,807)** | 3410982057 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 3.5%** | **Money Market Funds — 3.5%** | **Money Market Funds — 3.5%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 112599025 | 112644064 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 4840000 | 4840000 |
| **Total Short-Term Securities — 3.5%** <br>**(Cost: $117,415,558)** | **Total Short-Term Securities — 3.5%** <br>**(Cost: $117,415,558)** | 117484064 |
| **Total Investments — 103.2%** <br>**(Cost: $2,824,921,365)** | **Total Investments — 103.2%** <br>**(Cost: $2,824,921,365)** | 3528466121 |
| **Liabilities in Excess of Other Assets — (3.2)%** | **Liabilities in Excess of Other Assets — (3.2)%** | (107779186)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $3420686935 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, <br> SL Agency Shares<br>| $224403109 | $—<br> $(111767865 )<sup>(a)</sup><br>| &nbsp;&nbsp; $9829 | $(1009)<br>| $112644064 | 112599025 | $1652790 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 5560000 | —<br> (720000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 4840000 | 4840000 | 198732 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $9829 | $(1009)<br>| $117484064 |  | $1851522 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Euro STOXX 50 Index | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $1432 | &nbsp;&nbsp; $(35122)<br>|
| MSCI Emerging Markets Index | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 1151 | &nbsp;&nbsp; (18756)<br>|
| S&P 500 E-Mini Index | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 6114 | &nbsp;&nbsp; (133335)<br>|
|  |  |  |  | &nbsp;&nbsp; $(187213)<br>|

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Exponential Technologies ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $187213 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $187213 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1534240 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1534240 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(797822)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(797822)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $8442982 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $2135337524 | &nbsp;&nbsp; $1247396518 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3382734042 |
| Preferred Stocks | &nbsp;&nbsp; 12933285 | &nbsp;&nbsp; 15314730 | &nbsp;&nbsp; — | &nbsp;&nbsp; 28248015 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 117484064 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 117484064 |
|  | &nbsp;&nbsp; $2265754873 | &nbsp;&nbsp; $1262711248 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3528466121 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $(152091)<br>| &nbsp;&nbsp; $(35122)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(187213)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® Future Cloud 5G and Tech ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Chemicals — 2.5%** | **Chemicals — 2.5%** | **Chemicals — 2.5%** |
| DuPont de Nemours Inc. | &nbsp;&nbsp; 2230 | $186651 |
| **Communications Equipment — 15.3%** | **Communications Equipment — 15.3%** | **Communications Equipment — 15.3%** |
| Arista Networks Inc.<sup>(a)</sup> | &nbsp;&nbsp; 738 | 255754 |
| Ciena Corp.<sup>(a)</sup> | &nbsp;&nbsp; 3440 | 181426 |
| Juniper Networks Inc. | &nbsp;&nbsp; 5455 | 205599 |
| Lumentum Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1657 | 85799 |
| Nokia OYJ | &nbsp;&nbsp; 51710 | 203215 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 28200 | 193899 |
|  |  | 1125692 |
| **Diversified Telecommunication Services — 5.5%** | **Diversified Telecommunication Services — 5.5%** | **Diversified Telecommunication Services — 5.5%** |
| Cellnex Telecom SA<sup>(b)</sup> | &nbsp;&nbsp; 4031 | 140588 |
| China Tower Corp. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 1044000 | 128097 |
| Infrastrutture Wireless Italiane SpA<sup>(b)</sup> | &nbsp;&nbsp; 8346 | 92868 |
| NetLink NBN Trust | &nbsp;&nbsp; 74400 | 47311 |
|  |  | 408864 |
| **Electronic Equipment, Instruments & Components — 4.9%** | **Electronic Equipment, Instruments & Components — 4.9%** | **Electronic Equipment, Instruments & Components — 4.9%** |
| Belden Inc. | &nbsp;&nbsp; 943 | 87407 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 8000 | 177984 |
| Taiyo Yuden Co. Ltd. | &nbsp;&nbsp; 3200 | 96160 |
|  |  | 361551 |
| **IT Services — 9.0%** | **IT Services — 9.0%** | **IT Services — 9.0%** |
| Akamai Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1365 | 134152 |
| Cloudflare Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2055 | 159263 |
| GDS Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 19500 | 27172 |
| Kyndryl Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4030 | 108286 |
| NEXTDC Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 8857 | 97535 |
| Twilio Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2297 | 135822 |
|  |  | 662230 |
| **Semiconductors & Semiconductor Equipment — 34.8%**  | **Semiconductors & Semiconductor Equipment — 34.8%**  | **Semiconductors & Semiconductor Equipment — 34.8%**  |
| Broadcom Inc. | &nbsp;&nbsp; 1740 | 279583 |
| Diodes Inc.<sup>(a)</sup> | &nbsp;&nbsp; 815 | 63733 |
| Infineon Technologies AG | &nbsp;&nbsp; 3996 | 138814 |
| Intel Corp. | &nbsp;&nbsp; 3828 | 117673 |
| MACOM Technology Solutions Holdings Inc., Class H<sup>(a)(c)</sup> | &nbsp;&nbsp; 1308 | 132003 |
| Marvell Technology Inc. | &nbsp;&nbsp; 3129 | 209581 |
| MediaTek Inc. | &nbsp;&nbsp; 5000 | 190426 |
| Micron Technology Inc. | &nbsp;&nbsp; 2154 | 236552 |
| Nvidia Corp. | &nbsp;&nbsp; 3465 | 405474 |
| NXP Semiconductors NV | &nbsp;&nbsp; 771 | 202896 |
| Qorvo Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1620 | 194076 |
| Qualcomm Inc. | &nbsp;&nbsp; 1219 | 220578 |
| Skyworks Solutions Inc. | &nbsp;&nbsp; 1582 | 179747 |
|  |  | 2571136 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Software — 9.8%** | **Software — 9.8%** | **Software — 9.8%** |
| Confluent Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3421 | $85593 |
| Datadog Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1376 | 160222 |
| Dynatrace Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2894 | 127105 |
| Elastic NV<sup>(a)</sup> | &nbsp;&nbsp; 1054 | 115592 |
| Nutanix Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 3512 | 177391 |
| Teradata Corp.<sup>(a)</sup> | &nbsp;&nbsp; 1793 | 58129 |
|  |  | 724032 |
| **Specialized REITs — 6.1%** | **Specialized REITs — 6.1%** | **Specialized REITs — 6.1%** |
| American Tower Corp. | &nbsp;&nbsp; 750 | 165300 |
| Crown Castle Inc. | &nbsp;&nbsp; 1338 | 147287 |
| SBA Communications Corp., Class A | &nbsp;&nbsp; 622 | 136554 |
|  |  | 449141 |
| **Technology Hardware, Storage & Peripherals — 11.8%** | **Technology Hardware, Storage & Peripherals — 11.8%** | **Technology Hardware, Storage & Peripherals — 11.8%** |
| IEIT Systems Co. Ltd., Class A | &nbsp;&nbsp; 2400 | 12493 |
| Pure Storage Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 4946 | 296413 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp; 2023 | 206690 |
| Western Digital Corp.<sup>(a)</sup> | &nbsp;&nbsp; 3356 | 225020 |
| Wiwynn Corp. | &nbsp;&nbsp; 2000 | 126768 |
|  |  | 867384 |
| **Total Long-Term Investments — 99.7%** <br>**(Cost: $6,427,474)** | **Total Long-Term Investments — 99.7%** <br>**(Cost: $6,427,474)** | 7356681 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.7%** | **Money Market Funds — 1.7%** | **Money Market Funds — 1.7%** |
| BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 125489 | 125539 |
| **Total Short-Term Securities — 1.7%** <br>**(Cost: $125,530)** | **Total Short-Term Securities — 1.7%** <br>**(Cost: $125,530)** | 125539 |
| **Total Investments — 101.4%** <br>**(Cost: $6,553,004)** | **Total Investments — 101.4%** <br>**(Cost: $6,553,004)** | 7482220 |
| **Liabilities in Excess of Other Assets — (1.4)%** | **Liabilities in Excess of Other Assets — (1.4)%** | (105520)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $7376700 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> 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. 

<sup>(c)</sup> All or a portion of this security is on loan.

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Future Cloud 5G and Tech ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency Shares | $697644 | $— | &nbsp;&nbsp; $(573186 )<sup>(a)</sup><br>| &nbsp;&nbsp; $1074 | $7 | $125539 | 125489 | $450 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares<sup>(c)</sup> |  | 0 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  |  |  | 109 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $1074 | $7 | $125539 |  | $559 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

<sup>(c)</sup> As of period end, the entity is no longer held.

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Micro E-Mini Russell 2000 Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $11 | &nbsp;&nbsp; $1216 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1216 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1216 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1604 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1604 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1216 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1216 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $9854 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Future Cloud 5G and Tech ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $5730662 | &nbsp;&nbsp; $1626019 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7356681 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 125539 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 125539 |
|  | &nbsp;&nbsp; $5856201 | &nbsp;&nbsp; $1626019 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7482220 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $1216 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1216 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® Genomics Immunology and Healthcare ETF** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Canada — 0.7%** | **Canada — 0.7%** | **Canada — 0.7%** |
| AbCellera Biologics Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 318202 | $1037339 |
| **China — 4.1%** | **China — 4.1%** | **China — 4.1%** |
| BeiGene Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 452100 | 5751952 |
| **Denmark — 4.0%** | **Denmark — 4.0%** | **Denmark — 4.0%** |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 19732 | 5573730 |
| **France — 4.5%** | **France — 4.5%** | **France — 4.5%** |
| Sanofi SA | &nbsp;&nbsp; 56013 | 5774519 |
| Valneva SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 165095 | 588359 |
|  |  | 6362878 |
| **Germany — 3.4%** | **Germany — 3.4%** | **Germany — 3.4%** |
| BioNTech SE, ADR<sup>(a)</sup> | &nbsp;&nbsp; 55003 | 4741259 |
| **Japan — 5.5%** | **Japan — 5.5%** | **Japan — 5.5%** |
| Nxera Pharma Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 25600 | 286449 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 115900 | 1709795 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 204300 | 5735572 |
|  |  | 7731816 |
| **Netherlands — 0.8%** | **Netherlands — 0.8%** | **Netherlands — 0.8%** |
| CureVac NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 144473 | 544663 |
| uniQure NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 73506 | 563056 |
|  |  | 1107719 |
| **South Korea — 1.1%** | **South Korea — 1.1%** | **South Korea — 1.1%** |
| ABLBio Inc.<sup>(a)</sup> | &nbsp;&nbsp; 47591 | 997919 |
| ToolGen Inc., NVS<sup>(a)</sup> | &nbsp;&nbsp; 8872 | 493922 |
|  |  | 1491841 |
| **Switzerland — 4.7%** | **Switzerland — 4.7%** | **Switzerland — 4.7%** |
| Roche Holding AG, NVS | &nbsp;&nbsp; 20398 | 6604044 |
| **United Kingdom — 3.7%** | **United Kingdom — 3.7%** | **United Kingdom — 3.7%** |
| GSK PLC | &nbsp;&nbsp; 266306 | 5171338 |
| **United States — 67.2%** | **United States — 67.2%** | **United States — 67.2%** |
| 4D Molecular Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 67017 | 1188211 |
| Arcellx Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 61812 | 3820600 |
| Arcturus Therapeutics Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 37888 | 888852 |
| Arcus Biosciences Inc.<sup>(a)</sup> | &nbsp;&nbsp; 74012 | 1214537 |
| Beam Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 118488 | 3748960 |
| BioCryst Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 305743 | 2225809 |
| Blueprint Medicines Corp.<sup>(a)</sup> | &nbsp;&nbsp; 21179 | 2293686 |
| CRISPR Therapeutics AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 27945 | 1600969 |
| Dynavax Technologies Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 200502 | 2243617 |
| Editas Medicine Inc.<sup>(a)</sup> | &nbsp;&nbsp; 126515 | 684446 |
| Exelixis Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 252226 | 5914700 |
| Geron Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 772252 | 3660475 |
| Gilead Sciences Inc. | &nbsp;&nbsp; 85300 | 6487918 |
| Ginkgo Bioworks Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2163302 | 822055 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| ImmunityBio Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 237900 | $1225185 |
| Incyte Corp.<sup>(a)</sup> | &nbsp;&nbsp; 93286 | 6070120 |
| Intellia Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 32689 | 856779 |
| Iovance Biotherapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 345034 | 3012147 |
| Ligand Pharmaceuticals Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 27090 | 2952539 |
| MacroGenics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 89660 | 337122 |
| Merck & Co. Inc. | &nbsp;&nbsp; 42237 | 4778272 |
| Moderna Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 36547 | 4357133 |
| Novavax Inc.<sup>(a)</sup> | &nbsp;&nbsp; 205672 | 2634658 |
| Nurix Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 87643 | 1917629 |
| OmniAb Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 146516 | 701812 |
| OmniAb, Inc., 12.50 Earnout Shares<sup>(c)</sup> | &nbsp;&nbsp; 19498 |  |
| OmniAb, Inc., 15.00 Earnout Shares<sup>(c)</sup> | &nbsp;&nbsp; 19498 |  |
| Regeneron Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5505 | 5940941 |
| Revolution Medicines Inc.<sup>(a)</sup> | &nbsp;&nbsp; 136807 | 6243872 |
| Sarepta Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 44751 | 6365382 |
| SpringWorks Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 101530 | 3645942 |
| Twist Bioscience Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 85884 | 4793186 |
| Vir Biotechnology Inc.<sup>(a)</sup> | &nbsp;&nbsp; 136764 | 1389522 |
| Xencor Inc.<sup>(a)</sup> | &nbsp;&nbsp; 20598 | 420611 |
|  |  | 94437687 |
| **Total Long-Term Investments — 99.7%** <br>**(Cost: $136,791,840)** | **Total Long-Term Investments — 99.7%** <br>**(Cost: $136,791,840)** | 140011603 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 9.4%** | **Money Market Funds — 9.4%** | **Money Market Funds — 9.4%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 12994154 | 12999352 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 120000 | 120000 |
| **Total Short-Term Securities — 9.4%** <br>**(Cost: $13,118,290)** | **Total Short-Term Securities — 9.4%** <br>**(Cost: $13,118,290)** | 13119352 |
| **Total Investments — 109.1%** <br>**(Cost: $149,910,130)** | **Total Investments — 109.1%** <br>**(Cost: $149,910,130)** | 153130955 |
| **Liabilities in Excess of Other Assets — (9.1)%** | **Liabilities in Excess of Other Assets — (9.1)%** | (12726034)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $140404921 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

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

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Genomics Immunology and Healthcare ETF** 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $24056998 | $— | &nbsp;&nbsp; $(11059779 )<sup>(a)</sup><br>| &nbsp;&nbsp; $(772)<br>| $2905 | $12999352 | 12994154 | $493606 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 70000 | 50000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 120000 | 120000 | 9594 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(772)<br>| $2905 | $13119352 |  | $503200 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| E-Mini Health Care Sector Index | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $304 | &nbsp;&nbsp; $7855 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7855 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7855 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5236 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5236 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $405 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $405 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $281805 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Genomics Immunology and Healthcare ETF** 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $101324004 | &nbsp;&nbsp; $38687599 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $140011603 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 13119352 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 13119352 |
|  | &nbsp;&nbsp; $114443356 | &nbsp;&nbsp; $38687599 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $153130955 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $7855 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7855 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® Neuroscience and Healthcare ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Biotechnology — 62.1%** | **Biotechnology — 62.1%** | **Biotechnology — 62.1%** |
| Abeona Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2826 | $13847 |
| ACADIA Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 9336 | 177571 |
| Acumen Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3220 | 10626 |
| Alector Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5472 | 32832 |
| Alkermes PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 5814 | 158838 |
| Anavex Life Sciences Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 5948 | 40417 |
| Annexon Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5238 | 33576 |
| Argenx SE, ADR<sup>(a)</sup> | &nbsp;&nbsp; 370 | 190872 |
| BioArctic AB, Class B<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 2833 | 42453 |
| Biogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 617 | 131544 |
| Biohaven Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 4132 | 162512 |
| Capricor Therapeutics Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 2116 | 8591 |
| Catalyst Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7372 | 127093 |
| Cerevel Therapeutics Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3473 | 156146 |
| Dianthus Therapeutics Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1484 | 44194 |
| Dyne Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4493 | 192795 |
| Entrada Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1326 | 21839 |
| Kyverna Therapeutics Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1394 | 12072 |
| Larimar Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2691 | 22577 |
| Neurocrine Biosciences Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1030 | 145817 |
| PepGen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1861 | 21271 |
| Prothena Corp. PLC<sup>(a)</sup> | &nbsp;&nbsp; 3368 | 78407 |
| PTC Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3806 | 128833 |
| Sarepta Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1127 | 160304 |
| Scholar Rock Holding Corp.<sup>(a)</sup> | &nbsp;&nbsp; 4639 | 42122 |
| Solid Biosciences Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2230 | 19892 |
| Vanda Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3995 | 23331 |
| Vistagen Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1755 | 6020 |
| Voyager Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3264 | 29996 |
| Xenon Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3689 | 159107 |
|  |  | 2395495 |
| **Health Care Equipment & Supplies — 8.6%** | **Health Care Equipment & Supplies — 8.6%** | **Health Care Equipment & Supplies — 8.6%** |
| Axogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2974 | 26112 |
| Axonics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2072 | 141891 |
| CVRx Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 794 | 6789 |
| Integra LifeSciences Holdings Corp.<sup>(a)</sup> | &nbsp;&nbsp; 4513 | 111967 |
| MicroPort NeuroTech Ltd., NVS | &nbsp;&nbsp; 13000 | 13146 |
| NeuroPace Inc.<sup>(a)</sup> | &nbsp;&nbsp; 999 | 7722 |
| Nevro Corp.<sup>(a)</sup> | &nbsp;&nbsp; 2513 | 24954 |
|  |  | 332581 |
| **Life Sciences Tools & Services — 0.3%** | **Life Sciences Tools & Services — 0.3%** | **Life Sciences Tools & Services — 0.3%** |
| Cellivery Therapeutics Inc.<sup>(a)(d)</sup> | &nbsp;&nbsp; 3565 | 12108 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Pharmaceuticals — 28.8%** | **Pharmaceuticals — 28.8%** | **Pharmaceuticals — 28.8%** |
| Alto Neuroscience Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1605 | $17302 |
| Amylyx Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3330 | 6860 |
| Athira Pharma Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2551 | 8138 |
| Avadel Pharmaceuticals PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 6631 | 108350 |
| Cassava Sciences Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 3234 | 71859 |
| Edgewise Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4763 | 81114 |
| H Lundbeck A/S | &nbsp;&nbsp; 19445 | 121655 |
| Intra-Cellular Therapies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2032 | 159959 |
| Longboard Pharmaceuticals Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 2384 | 79244 |
| Neumora Therapeutics Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3936 | 50617 |
| Neuren Pharmaceuticals Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 8151 | 103313 |
| Newron Pharmaceuticals SpA<sup>(a)</sup> | &nbsp;&nbsp; 1224 | 11825 |
| SK Biopharmaceuticals Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2031 | 127575 |
| Supernus Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3818 | 113853 |
| WaVe Life Sciences Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 7002 | 46283 |
|  |  | 1107947 |
| **Total Long-Term Investments — 99.8%** <br>**(Cost: $3,644,155)** | **Total Long-Term Investments — 99.8%** <br>**(Cost: $3,644,155)** | 3848131 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 12.1%** | **Money Market Funds — 12.1%** | **Money Market Funds — 12.1%** |
| BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 5.45%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp; 466003 | 466189 |
| **Total Short-Term Securities — 12.1%** <br>**(Cost: $466,142)** | **Total Short-Term Securities — 12.1%** <br>**(Cost: $466,142)** | 466189 |
| **Total Investments — 111.9%** <br>**(Cost: $4,110,297)** | **Total Investments — 111.9%** <br>**(Cost: $4,110,297)** | 4314320 |
| **Liabilities in Excess of Other Assets — (11.9)%** | **Liabilities in Excess of Other Assets — (11.9)%** | (457716)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $3856604 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Annualized 7-day yield as of period end.

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

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Neuroscience and Healthcare ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency Shares | $656581 | $— | &nbsp;&nbsp; $(190452 )<sup>(a)</sup><br>| &nbsp;&nbsp; $67 | $(7)<br>| $466189 | 466003 | $18531 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares<sup>(c)</sup> |  | 0 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  |  |  | 54 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $67 | $(7)<br>| $466189 |  | $18585 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

<sup>(c)</sup> As of period end, the entity is no longer held.

**Derivative Financial Instruments Categorized by Risk Exposure**

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $131 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $131 |

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $2445 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $3549536 | &nbsp;&nbsp; $286487 | &nbsp;&nbsp; $12108 | &nbsp;&nbsp; $3848131 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 466189 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 466189 |
|  | &nbsp;&nbsp; $4015725 | &nbsp;&nbsp; $286487 | &nbsp;&nbsp; $12108 | &nbsp;&nbsp; $4314320 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® Robotics and Artificial Intelligence Multisector ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 0.9%** | **Australia — 0.9%** | **Australia — 0.9%** |
| Megaport Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 748884 | $5421492 |
| **Canada — 0.9%** | **Canada — 0.9%** | **Canada — 0.9%** |
| ATS Corp.<sup>(a)</sup> | &nbsp;&nbsp; 189688 | 5700326 |
| **China — 12.6%** | **China — 12.6%** | **China — 12.6%** |
| AAC Technologies Holdings Inc. | &nbsp;&nbsp; 1810000 | 6625491 |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp; 631400 | 6213117 |
| Baidu Inc.<sup>(a)</sup> | &nbsp;&nbsp; 516350 | 5725083 |
| China Ruyi Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 25296000 | 6762036 |
| Hello Group Inc., ADR | &nbsp;&nbsp; 1143511 | 7718699 |
| iQIYI Inc., ADR<sup>(a)</sup> | &nbsp;&nbsp; 1477353 | 4919585 |
| JOYY Inc., ADR | &nbsp;&nbsp; 217315 | 7234416 |
| Kuaishou Technology<sup>(a)(c)</sup> | &nbsp;&nbsp; 933500 | 5228248 |
| Meitu Inc.<sup>(b)(c)</sup> | &nbsp;&nbsp; 16203000 | 5253944 |
| NetEase Inc. | &nbsp;&nbsp; 332500 | 6132490 |
| Tencent Holdings Ltd. | &nbsp;&nbsp; 130200 | 6008268 |
| Xiaomi Corp., Class B<sup>(a)(c)</sup> | &nbsp;&nbsp; 2763800 | 5936172 |
| ZTE Corp., Class H | &nbsp;&nbsp; 2908600 | 6515485 |
|  |  | 80273034 |
| **France — 1.6%** | **France — 1.6%** | **France — 1.6%** |
| Dassault Systemes SE | &nbsp;&nbsp; 155320 | 5887989 |
| STMicroelectronics NV | &nbsp;&nbsp; 139519 | 4612894 |
|  |  | 10500883 |
| **Germany — 1.7%** | **Germany — 1.7%** | **Germany — 1.7%** |
| Duerr AG | &nbsp;&nbsp; 250124 | 5501375 |
| Infineon Technologies AG | &nbsp;&nbsp; 151443 | 5260848 |
|  |  | 10762223 |
| **Guernsey — 1.2%** | **Guernsey — 1.2%** | **Guernsey — 1.2%** |
| Genius Sports Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1150026 | 7854678 |
| **India — 1.1%** | **India — 1.1%** | **India — 1.1%** |
| PB Fintech Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 404056 | 7029232 |
| **Israel — 1.8%** | **Israel — 1.8%** | **Israel — 1.8%** |
| Nano Dimension Ltd., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 2406664 | 5848193 |
| Stratasys Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 688525 | 5893774 |
|  |  | 11741967 |
| **Italy — 0.8%** | **Italy — 0.8%** | **Italy — 0.8%** |
| Stellantis NV | &nbsp;&nbsp; 286062 | 4766954 |
| **Japan — 10.2%** | **Japan — 10.2%** | **Japan — 10.2%** |
| FANUC Corp. | &nbsp;&nbsp; 226900 | 6726848 |
| Harmonic Drive Systems Inc. | &nbsp;&nbsp; 230600 | 6337332 |
| Kawasaki Heavy Industries Ltd. | &nbsp;&nbsp; 176200 | 6465063 |
| Kyocera Corp. | &nbsp;&nbsp; 541100 | 6815133 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 302800 | 7283646 |
| Nidec Corp. | &nbsp;&nbsp; 139900 | 6154294 |
| Oracle Corp./Japan | &nbsp;&nbsp; 85500 | 6979295 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 673400 | 6268886 |
| Sony Group Corp. | &nbsp;&nbsp; 73300 | 6510403 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 163800 | 5700865 |
|  |  | 65241765 |
| **Norway — 0.9%** | **Norway — 0.9%** | **Norway — 0.9%** |
| AutoStore Holdings Ltd.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 4374011 | 5513119 |
| **South Korea — 2.8%** | **South Korea — 2.8%** | **South Korea — 2.8%** |
| Rainbow Robotics<sup>(a)</sup> | &nbsp;&nbsp; 52461 | 5368480 |
| Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 110470 | 6811825 |
| Samsung SDS Co. Ltd. | &nbsp;&nbsp; 52541 | 5685508 |
|  |  | 17865813 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden — 1.1%** | **Sweden — 1.1%** | **Sweden — 1.1%** |
| Spotify Technology SA<sup>(a)</sup> | &nbsp;&nbsp; 20204 | $6948964 |
| **Switzerland — 1.0%** | **Switzerland — 1.0%** | **Switzerland — 1.0%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 110783 | 6149189 |
| **Taiwan — 7.9%** | **Taiwan — 7.9%** | **Taiwan — 7.9%** |
| Airoha Technology Corp., NVS | &nbsp;&nbsp; 278000 | 5285311 |
| Alchip Technologies Ltd. | &nbsp;&nbsp; 71000 | 5782890 |
| Faraday Technology Corp. | &nbsp;&nbsp; 669917 | 6186596 |
| Global Unichip Corp. | &nbsp;&nbsp; 127000 | 4571374 |
| Hiwin Technologies Corp. | &nbsp;&nbsp; 945392 | 5814179 |
| HTC Corp.<sup>(a)</sup> | &nbsp;&nbsp; 4349000 | 5873583 |
| Nuvoton Technology Corp. | &nbsp;&nbsp; 1626000 | 5226348 |
| Via Technologies Inc. | &nbsp;&nbsp; 1703000 | 6382819 |
| Winbond Electronics Corp. | &nbsp;&nbsp; 7784150 | 5549509 |
|  |  | 50672609 |
| **United Kingdom — 1.0%** | **United Kingdom — 1.0%** | **United Kingdom — 1.0%** |
| ARM Holdings PLC, ADR<sup>(a)</sup> | &nbsp;&nbsp; 45773 | 6599093 |
| **United States — 52.3%** | **United States — 52.3%** | **United States — 52.3%** |
| 3D Systems Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1512649 | 5521169 |
| Adobe Inc.<sup>(a)</sup> | &nbsp;&nbsp; 13436 | 7411969 |
| Advanced Micro Devices Inc.<sup>(a)</sup> | &nbsp;&nbsp; 37246 | 5381302 |
| Alphabet Inc., Class A | &nbsp;&nbsp; 35815 | 6143705 |
| Altair Engineering Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 72950 | 6445862 |
| Amazon.com Inc.<sup>(a)</sup> | &nbsp;&nbsp; 33783 | 6316745 |
| Ambarella Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 109850 | 5782504 |
| AMETEK Inc. | &nbsp;&nbsp; 36772 | 6379207 |
| Analog Devices Inc. | &nbsp;&nbsp; 26538 | 6140362 |
| Ansys Inc.<sup>(a)</sup> | &nbsp;&nbsp; 19202 | 6022323 |
| Apple Inc. | &nbsp;&nbsp; 31747 | 7050374 |
| Autodesk Inc.<sup>(a)</sup> | &nbsp;&nbsp; 28842 | 7138972 |
| Bentley Systems Inc., Class B | &nbsp;&nbsp; 122937 | 5991949 |
| Bumble Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 556863 | 5201100 |
| CEVA Inc.<sup>(a)</sup> | &nbsp;&nbsp; 310910 | 6233746 |
| Clarivate PLC<sup>(a)</sup> | &nbsp;&nbsp; 1097662 | 7398242 |
| Cognex Corp. | &nbsp;&nbsp; 143969 | 7143742 |
| DigitalOcean Holdings Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 166826 | 5526945 |
| Dropbox Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 291726 | 6978086 |
| Elastic NV<sup>(a)</sup> | &nbsp;&nbsp; 55825 | 6122328 |
| Freshworks Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 490491 | 6131138 |
| GoDaddy Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 44865 | 6525614 |
| HubSpot Inc.<sup>(a)</sup> | &nbsp;&nbsp; 10448 | 5192969 |
| Informatica Inc. , Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 217776 | 5213557 |
| Intel Corp. | &nbsp;&nbsp; 202673 | 6230168 |
| Intuitive Surgical Inc.<sup>(a)</sup> | &nbsp;&nbsp; 14903 | 6626023 |
| Lattice Semiconductor Corp.<sup>(a)</sup> | &nbsp;&nbsp; 102896 | 5453488 |
| Lumen Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4915580 | 15484077 |
| Matterport Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1490713 | 6618766 |
| Meta Platforms Inc., Class A | &nbsp;&nbsp; 12674 | 6017995 |
| Microchip Technology Inc. | &nbsp;&nbsp; 67179 | 5964152 |
| Microsoft Corp. | &nbsp;&nbsp; 14726 | 6160622 |
| MicroStrategy Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 3917 | 6323762 |
| Netflix Inc.<sup>(a)</sup> | &nbsp;&nbsp; 9747 | 6124527 |
| Nvidia Corp. | &nbsp;&nbsp; 51654 | 6044551 |
| Oracle Corp. | &nbsp;&nbsp; 49617 | 6919091 |
| Paramount Global, Class B, NVS | &nbsp;&nbsp; 518407 | 5920208 |
| Pegasystems Inc. | &nbsp;&nbsp; 108365 | 7555208 |
| Peloton Interactive Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1707077 | 6077194 |
| Pinterest Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 141740 | 4528593 |
| Proto Labs Inc.<sup>(a)</sup> | &nbsp;&nbsp; 193728 | 6745609 |
| Qualcomm Inc. | &nbsp;&nbsp; 30144 | 5454557 |
| Salesforce Inc. | &nbsp;&nbsp; 25747 | 6663324 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Robotics and Artificial Intelligence Multisector ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Silicon Laboratories Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 52308 | $6283760 |
| Sirius XM Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 2440362 | 8419249 |
| Snap Inc., Class A, NVS<sup>(a)</sup> | &nbsp;&nbsp; 400964 | 5340840 |
| Snowflake Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 47462 | 6188096 |
| Sprinklr Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 699988 | 6880882 |
| Symbotic Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 169833 | 4553223 |
| Teradata Corp.<sup>(a)</sup> | &nbsp;&nbsp; 193370 | 6269055 |
| Texas Instruments Inc. | &nbsp;&nbsp; 31853 | 6491960 |
| Vimeo Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1677508 | 6743582 |
|  |  | 333476472 |
| **Total Long-Term Investments — 99.8%** <br>**(Cost: $601,978,277)** | **Total Long-Term Investments — 99.8%** <br>**(Cost: $601,978,277)** | 636517813 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 8.7%** | **Money Market Funds — 8.7%** | **Money Market Funds — 8.7%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 54985995 | 55007989 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 730000 | 730000 |
| **Total Short-Term Securities — 8.7%** <br>**(Cost: $55,739,339)** | **Total Short-Term Securities — 8.7%** <br>**(Cost: $55,739,339)** | 55737989 |
| **Total Investments — 108.5%** <br>**(Cost: $657,717,616)** | **Total Investments — 108.5%** <br>**(Cost: $657,717,616)** | 692255802 |
| **Liabilities in Excess of Other Assets — (8.5)%** | **Liabilities in Excess of Other Assets — (8.5)%** | (54055084)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $638200718 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $49090383<br> $5921073 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(4843)<br>| $1376 | $55007989 | 54985995 | $2277067 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 60000<br> 670000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 730000 | 730000 | 43064 | &nbsp;&nbsp; — |
|  |  |  | $(4843)<br>| $1376 | $55737989 |  | $2320131 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Robotics and Artificial Intelligence Multisector ETF**

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| E-Mini Technology Select Sector Index | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $1111 | &nbsp;&nbsp; $(30517)<br>|

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $30517 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $30517 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $133174 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $133174 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(41077)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(41077)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $909313 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $392194200 | &nbsp;&nbsp; $244323613 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $636517813 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 55737989 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 55737989 |
|  | &nbsp;&nbsp; $447932189 | &nbsp;&nbsp; $244323613 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $692255802 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Robotics and Artificial Intelligence Multisector ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $(30517)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(30517)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® Self-Driving EV and Tech ETF** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 3.3%** | **Australia — 3.3%** | **Australia — 3.3%** |
| Pilbara Minerals Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3387967 | $6548478 |
| **China — 20.4%** | **China — 20.4%** | **China — 20.4%** |
| BYD Co. Ltd., Class H | &nbsp;&nbsp; 280000 | 8289333 |
| Ganfeng Lithium Group Co. Ltd., Class H<sup>(a)(b)</sup> | &nbsp;&nbsp; 1130280 | 2373449 |
| Li Auto Inc.<sup>(c)</sup> | &nbsp;&nbsp; 815500 | 7977393 |
| NIO Inc., Class A<sup>(c)</sup> | &nbsp;&nbsp; 1664770 | 7419485 |
| XPeng Inc.<sup>(c)</sup> | &nbsp;&nbsp; 1965400 | 7944215 |
| Zhejiang Leapmotor Technology Co. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 1918200 | 6126420 |
|  |  | 40130295 |
| **Finland — 0.4%** | **Finland — 0.4%** | **Finland — 0.4%** |
| Kempower OYJ<sup>(a)(c)</sup> | &nbsp;&nbsp; 53122 | 860070 |
| **France — 7.9%** | **France — 7.9%** | **France — 7.9%** |
| Forvia SE | &nbsp;&nbsp; 39145 | 458503 |
| Renault SA | &nbsp;&nbsp; 147192 | 7133238 |
| Schneider Electric SE | &nbsp;&nbsp; 33234 | 8010563 |
|  |  | 15602304 |
| **Germany — 0.9%** | **Germany — 0.9%** | **Germany — 0.9%** |
| Continental AG | &nbsp;&nbsp; 27368 | 1677763 |
| **Japan — 6.8%** | **Japan — 6.8%** | **Japan — 6.8%** |
| Denso Corp. | &nbsp;&nbsp; 509400 | 8353654 |
| GS Yuasa Corp. | &nbsp;&nbsp; 264500 | 4706319 |
| TS Tech Co. Ltd. | &nbsp;&nbsp; 22800 | 302349 |
|  |  | 13362322 |
| **Netherlands — 0.5%** | **Netherlands — 0.5%** | **Netherlands — 0.5%** |
| Alfen NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 58371 | 1079201 |
| **South Korea — 10.0%** | **South Korea — 10.0%** | **South Korea — 10.0%** |
| Hyundai Mobis Co. Ltd. | &nbsp;&nbsp; 15863 | 2566478 |
| LG Energy Solution Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 31004 | 7380496 |
| Samsung SDI Co. Ltd. | &nbsp;&nbsp; 27895 | 6558931 |
| Sebang Global Battery Co. Ltd. | &nbsp;&nbsp; 15919 | 1073349 |
| SK IE Technology Co. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 75310 | 2064461 |
|  |  | 19643715 |
| **Sweden — 2.7%** | **Sweden — 2.7%** | **Sweden — 2.7%** |
| Hexagon AB, Class B | &nbsp;&nbsp; 525083 | 5347679 |
| **Switzerland — 4.1%** | **Switzerland — 4.1%** | **Switzerland — 4.1%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 144895 | 8042630 |
| **Taiwan — 1.1%** | **Taiwan — 1.1%** | **Taiwan — 1.1%** |
| Advanced Energy Solution Holding Co. Ltd. | &nbsp;&nbsp; 86000 | 1378326 |
| Darfon Electronics Corp. | &nbsp;&nbsp; 522000 | 884974 |
|  |  | 2263300 |
| **United Kingdom — 0.5%** | **United Kingdom — 0.5%** | **United Kingdom — 0.5%** |
| Polestar Automotive Holding U.K. PLC, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 1313063 | 965495 |
| **United States — 33.4%** | **United States — 33.4%** | **United States — 33.4%** |
| Adient PLC<sup>(c)</sup> | &nbsp;&nbsp; 22261 | 573443 |
| Aptiv PLC<sup>(c)</sup> | &nbsp;&nbsp; 68601 | 4760223 |
| Arcadium Lithium PLC, NVS<sup>(a)(c)</sup> | &nbsp;&nbsp; 1969119 | 6261798 |
| Aurora Innovation Inc., Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 200100 | 800400 |
| Autoliv Inc. | &nbsp;&nbsp; 20549 | 2078326 |
| Blue Bird Corp.<sup>(a)(c)</sup> | &nbsp;&nbsp; 88823 | 4629455 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| ChargePoint Holdings Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 1094915 | $2375965 |
| CTS Corp. | &nbsp;&nbsp; 7576 | 370315 |
| Gentex Corp. | &nbsp;&nbsp; 58398 | 1813842 |
| Gentherm Inc.<sup>(c)</sup> | &nbsp;&nbsp; 7881 | 434874 |
| Lear Corp. | &nbsp;&nbsp; 14352 | 1751518 |
| Lucid Group Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 2417204 | 8508558 |
| Lumentum Holdings Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 16248 | 841321 |
| Luminar Technologies Inc., Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 76815 | 127513 |
| Methode Electronics Inc. | &nbsp;&nbsp; 8344 | 105635 |
| Nikola Corp.<sup>(a)(c)</sup> | &nbsp;&nbsp; 116044 | 1042075 |
| QuantumScape Corp., Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 961274 | 6209830 |
| Rivian Automotive Inc., Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 707575 | 11611306 |
| Stoneridge Inc.<sup>(c)</sup> | &nbsp;&nbsp; 6626 | 111383 |
| Tesla Inc.<sup>(c)</sup> | &nbsp;&nbsp; 45929 | 10658743 |
| Visteon Corp.<sup>(c)</sup> | &nbsp;&nbsp; 6865 | 793182 |
|  |  | 65859705 |
| **Total Common Stocks — 92.0%** <br>**(Cost: $237,185,379)** | **Total Common Stocks — 92.0%** <br>**(Cost: $237,185,379)** | 181382957 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 7.2%** | **Germany — 7.2%** | **Germany — 7.2%** |
| Porsche Automobil Holding SE, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 152506 | 6816937 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 66955 | 7472377 |
|  |  | 14289314 |
| **Total Preferred Stocks — 7.2%** <br>**(Cost: $18,714,703)** | **Total Preferred Stocks — 7.2%** <br>**(Cost: $18,714,703)** | 14289314 |
| **Total Long-Term Investments — 99.2%** <br>**(Cost: $255,900,082)** | **Total Long-Term Investments — 99.2%** <br>**(Cost: $255,900,082)** | 195672271 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 22.2%** | **Money Market Funds — 22.2%** | **Money Market Funds — 22.2%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 43582060 | 43599493 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 90000 | 90000 |
| **Total Short-Term Securities — 22.2%** <br>**(Cost: $43,690,300)** | **Total Short-Term Securities — 22.2%** <br>**(Cost: $43,690,300)** | 43689493 |
| **Total Investments — 121.4%** <br>**(Cost: $299,590,382)** | **Total Investments — 121.4%** <br>**(Cost: $299,590,382)** | 239361764 |
| **Liabilities in Excess of Other Assets — (21.4)%** | **Liabilities in Excess of Other Assets — (21.4)%** | (42187180)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $197174584 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> 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. 

<sup>(c)</sup> Non-income producing security.

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Self-Driving EV and Tech ETF** 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $93121617 | $—<br> $(49530017 )<sup>(a)</sup><br>| &nbsp;&nbsp; $11198 | $(3305)<br>| $43599493 | 43582060 | $3307968 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 180000 | —<br> (90000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 90000 | 90000 | 13740 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $11198 | $(3305)<br>| $43689493 |  | $3321708 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Euro STOXX 50 Index | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $583 | &nbsp;&nbsp; $(4968)<br>|
| S&P 500 E-Mini Index | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 834 | &nbsp;&nbsp; 7184 |
|  |  |  |  | &nbsp;&nbsp; $2216 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7184 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7184 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4968 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4968 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $94715 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $94715 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(51681)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(51681)<br>|

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Self-Driving EV and Tech ETF** 

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $1387702 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $67685270 | &nbsp;&nbsp; $113697687 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $181382957 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 14289314 | &nbsp;&nbsp; — | &nbsp;&nbsp; 14289314 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 43689493 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 43689493 |
|  | &nbsp;&nbsp; $111374763 | &nbsp;&nbsp; $127987001 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $239361764 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $7184 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7184 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (4968)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (4968)<br>|
|  | &nbsp;&nbsp; $7184 | &nbsp;&nbsp; $(4968)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $2216 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® Virtual Work and Life Multisector ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Communication Services — 30.4%** | **Communication Services — 30.4%** | **Communication Services — 30.4%** |
| Bandwidth Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 710 | $16202 |
| Bumble Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2085 | 19474 |
| China Ruyi Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 136000 | 36355 |
| Cover Corp.<sup>(a)</sup> | &nbsp;&nbsp; 700 | 9159 |
| DeNA Co. Ltd. | &nbsp;&nbsp; 2200 | 22743 |
| Electronic Arts Inc. | &nbsp;&nbsp; 448 | 67621 |
| fuboTV Inc.<sup>(a)</sup> | &nbsp;&nbsp; 6232 | 9099 |
| Hello Group Inc., ADR | &nbsp;&nbsp; 3429 | 23146 |
| HUYA Inc., ADR | &nbsp;&nbsp; 1746 | 7438 |
| iQIYI Inc., ADR<sup>(a)</sup> | &nbsp;&nbsp; 10970 | 36530 |
| JOYY Inc., ADR | &nbsp;&nbsp; 842 | 28030 |
| Match Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1886 | 71932 |
| Meitu Inc.<sup>(b)</sup> | &nbsp;&nbsp; 65500 | 21239 |
| Netflix Inc.<sup>(a)</sup> | &nbsp;&nbsp; 96 | 60322 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 3500 | 75385 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 1100 | 60784 |
| Roku Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1074 | 62518 |
| Rumble Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1550 | 9796 |
| Snap Inc., Class A, NVS<sup>(a)</sup> | &nbsp;&nbsp; 3944 | 52534 |
| Spotify Technology SA<sup>(a)</sup> | &nbsp;&nbsp; 200 | 68788 |
| Take-Two Interactive Software Inc.<sup>(a)</sup> | &nbsp;&nbsp; 372 | 55997 |
| Tencent Holdings Ltd. | &nbsp;&nbsp; 1300 | 59990 |
| Ubisoft Entertainment SA<sup>(a)</sup> | &nbsp;&nbsp; 2064 | 42402 |
| XD Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5800 | 17031 |
|  |  | 934515 |
| **Consumer Discretionary — 19.2%** | **Consumer Discretionary — 19.2%** | **Consumer Discretionary — 19.2%** |
| Chegg Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2380 | 8116 |
| Deliveroo PLC, Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 19988 | 33892 |
| Delivery Hero SE, Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 2014 | 44808 |
| DoorDash Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 544 | 60232 |
| Duolingo Inc, Class A<sup>(a)</sup> | &nbsp;&nbsp; 326 | 56052 |
| GN Store Nord A/S<sup>(a)</sup> | &nbsp;&nbsp; 1922 | 50505 |
| Just Eat Takeaway.com NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 4134 | 52685 |
| Meituan, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 4350 | 60233 |
| New Oriental Education & Technology Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7900 | 51134 |
| Peloton Interactive Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 7552 | 26885 |
| Stride Inc.<sup>(a)</sup> | &nbsp;&nbsp; 886 | 67318 |
| Zomato Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 27810 | 76478 |
|  |  | 588338 |
| **Consumer Staples — 6.1%** | **Consumer Staples — 6.1%** | **Consumer Staples — 6.1%** |
| Alibaba Health Information Technology Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 116000 | 49066 |
| Dada Nexus Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 6188 | 8168 |
| DocMorris AG<sup>(a)</sup> | &nbsp;&nbsp; 282 | 14286 |
| JD Health International Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 19000 | 52736 |
| Ping An Healthcare and Technology Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 11400 | 16617 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Consumer Staples (continued)** | **Consumer Staples (continued)** | **Consumer Staples (continued)** |
| Redcare Pharmacy NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 316 | $47306 |
|  |  | 188179 |
| **Health Care — 3.2%** | **Health Care — 3.2%** | **Health Care — 3.2%** |
| Hims & Hers Health Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2962 | 62913 |
| Teladoc Health Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3794 | 35777 |
|  |  | 98690 |
| **Information Technology — 41.1%** | **Information Technology — 41.1%** | **Information Technology — 41.1%** |
| 8x8 Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3652 | 11248 |
| Asana Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2396 | 34862 |
| Box Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2308 | 64901 |
| Braze Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1678 | 73933 |
| Cellebrite DI Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1392 | 19070 |
| Cloudflare Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 870 | 67425 |
| Consensus Cloud Solutions Inc.<sup>(a)</sup> | &nbsp;&nbsp; 552 | 11758 |
| DocuSign Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1186 | 65799 |
| Dropbox Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2878 | 68842 |
| Five9 Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1434 | 63885 |
| GMO internet group Inc. | &nbsp;&nbsp; 1900 | 31480 |
| Instructure Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 404 | 9437 |
| Justsystems Corp. | &nbsp;&nbsp; 900 | 19041 |
| Life360 Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 4582 | 50017 |
| Megaport Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4558 | 32997 |
| Microsoft Corp. | &nbsp;&nbsp; 145 | 60661 |
| Mitek Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1382 | 18394 |
| Monday.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 276 | 63428 |
| Nice Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 368 | 66420 |
| PagerDuty Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2692 | 56344 |
| PowerSchool Holdings Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1347 | 30388 |
| RingCentral Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1802 | 63160 |
| Smartsheet Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1396 | 66952 |
| Tyler Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 126 | 71582 |
| Verint Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1674 | 60498 |
| Weave Communications Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1286 | 12860 |
| WingArc1st Inc. | &nbsp;&nbsp; 500 | 9317 |
| Zoom Video Communications Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 980 | 59192 |
|  |  | 1263891 |
| **Total Investments — 100.0%** <br>**(Cost: $3,746,592)** | **Total Investments — 100.0%** <br>**(Cost: $3,746,592)** | 3073613 |
| **Liabilities in Excess of Other Assets — (.00)%** | **Liabilities in Excess of Other Assets — (.00)%** | (1510)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $3072103 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> 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.

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Virtual Work and Life Multisector ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<sup>(a)</sup><br>| $437802 | $— | &nbsp;&nbsp; $(437775 )<sup>(b)</sup><br>| &nbsp;&nbsp; $(13)<br>| $(14)<br>| $— |  | $2371 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares<sup>(a)</sup> |  | 0 <br><sup>(b)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  |  |  | 120 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(13)<br>| $(14)<br>| $— |  | $2491 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> As of period end, the entity is no longer held.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> 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. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $2003399 | &nbsp;&nbsp; $1070214 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3073613 |

---

*See notes to financial statements.*

Schedule of Investments

------

Statements of Assets and Liabilities

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>Breakthrough <br> Environmental <br> Solutions <br> ETF <br>| &nbsp;&nbsp; iShares <br>Cybersecurity <br> and Tech <br> ETF <br>| &nbsp;&nbsp; iShares <br>Energy <br> Storage & <br> Materials <br> ETF <br>| &nbsp;&nbsp; iShares <br>Exponential <br> Technologies ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $3328945 | $861360452 | $6682927 | $3410982057 |
| Investments, at value—affiliated<sup>(c)</sup> |  | 99498871 | 17890 | 117484064 |
| Cash | 1811 | 4147 | 10353 | 191 |
| Cash pledged for futures contracts | 1000 | 59000 | 2015 | 324000 |
| Foreign currency collateral pledged for futures contracts<sup>(d)</sup> |  |  |  | 100649 |
| Foreign currency, at value<sup>(e)</sup> | 3959 | 354396 | 45765 | 3084083 |
| Receivables: |  |  |  |  |
| Investments sold |  |  | 486595 |  |
| Securities lending income—affiliated | 883 | 16150 | 35 | 46901 |
| Dividends—unaffiliated | 10326 | 480930 | 8203 | 2455321 |
| Dividends—affiliated |  | 13307 | 12 | 15184 |
| Tax reclaims | 1746 | 2791 | 7362 | 1337329 |
| Variation margin on futures contracts | 79 | 45323 | 272 | 127621 |
| Total assets | 3348749 | 961835367 | 7261429 | 3535957400 |
| **LIABILITIES** |  |  |  |  |
| Collateral on securities loaned, at value |  | 97876052 | 17880 | 112607340 |
| Payables: |  |  |  |  |
| Investments purchased |  |  | 138055 | 230 |
| Capital shares redeemed |  | 1 | 383212 |  |
| Deferred foreign capital gain tax |  |  |  | 1315617 |
| Investment advisory fees | 1335 | 327991 | 3450 | 1331150 |
| Professional fees |  |  |  | 16128 |
| Total liabilities | 1335 | 98204044 | 542597 | 115270465 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $3347414 | $863631323 | $6718832 | $3420686935 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $4025360 | $788604479 | $7188598 | $2846588304 |
| Accumulated earnings (loss) | (677946) | 75026844 | (469766) | 574098631 |
| NET ASSETS | $3347414 | $863631323 | $6718832 | $3420686935 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 160000 | 18450000 | 280000 | 57700000 |
| Net asset value | $20.92 | $46.81 | $24.00 | $59.28 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $3848435 | $756905368 | $7020241 | $2707505807 |
| <sup>(b)</sup> Securities loaned, at value | $— | $96465653 | $14294 | $110268206 |
| <sup>(c)</sup> Investments, at cost—affiliated | $— | $99496899 | $17888 | $117415558 |
| <sup>(d)</sup> Foreign currency collateral pledged, at cost | $— | $— | $— | $101354 |
| <sup>(e)</sup> Foreign currency, at cost | $3832 | $348343 | $45655 | $3082812 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Assets and Liabilities (continued)

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>Future Cloud <br> 5G and Tech <br> ETF <br>| &nbsp;&nbsp; iShares <br>Genomics <br> Immunology <br> and <br> Healthcare <br> ETF <br>| &nbsp;&nbsp; iShares <br>Neuroscience <br> and <br> Healthcare <br> ETF <br>| &nbsp;&nbsp; iShares <br>Robotics and <br> Artificial <br> Intelligence <br> Multisector <br> ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $7356681 | $140011603 | $3848131 | $636517813 |
| Investments, at value—affiliated<sup>(c)</sup> | 125539 | 13119352 | 466189 | 55737989 |
| Cash | 6534 | 8927 | 3939 |  |
| Cash pledged for futures contracts | 1000 | 11000 |  | 59000 |
| Foreign currency, at value<sup>(d)</sup> | 13382 | 133643 | 4897 | 799702 |
| Receivables: |  |  |  |  |
| Investments sold |  |  |  | 713607 |
| Securities lending income—affiliated | 40 | 44964 | 780 | 641164 |
| Dividends—unaffiliated | 1447 |  | 182 | 589933 |
| Dividends—affiliated |  | 736 |  | 3249 |
| Tax reclaims | 541 | 144445 |  | 61728 |
| Variation margin on futures contracts | 73 |  | 3 | 45451 |
| Total assets | 7505237 | 153474670 | 4324121 | 695169636 |
| **LIABILITIES** |  |  |  |  |
| Bank overdraft |  |  |  | 129938 |
| Collateral on securities loaned, at value | 125538 | 13006317 | 466024 | 55025614 |
| Payables: |  |  |  |  |
| Investments purchased |  |  |  | 266 |
| Capital shares redeemed |  |  |  | 934854 |
| Deferred foreign capital gain tax |  |  |  | 606718 |
| Foreign taxes |  |  |  | 5661 |
| Investment advisory fees | 2999 | 55667 | 1493 | 264101 |
| Professional fees |  | 6501 |  | 1766 |
| Variation margin on futures contracts |  | 1264 |  |  |
| Total liabilities | 128537 | 13069749 | 467517 | 56968918 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $7376700 | $140404921 | $3856604 | $638200718 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $7007172 | $285293266 | $3932441 | $688865221 |
| Accumulated earnings (loss) | 369528 | (144888345) | (75837) | (50664503) |
| NET ASSETS | $7376700 | $140404921 | $3856604 | $638200718 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 240000 | 5650000 | 150000 | 19000000 |
| Net asset value | $30.74 | $24.85 | $25.71 | $33.59 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $6427474 | $136791840 | $3644155 | $601978277 |
| <sup>(b)</sup> Securities loaned, at value | $129279 | $12542769 | $470462 | $52222807 |
| <sup>(c)</sup> Investments, at cost—affiliated | $125530 | $13118290 | $466142 | $55739339 |
| <sup>(d)</sup> Foreign currency, at cost | $13426 | $131651 | $4897 | $801021 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Assets and Liabilities (continued)

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>Self-Driving <br> EV and Tech <br> ETF <br>| &nbsp;&nbsp; iShares <br>Virtual Work <br> and Life <br> Multisector <br> ETF <br>|
| **ASSETS** |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $195672271 | $3073613 |
| Investments, at value—affiliated<sup>(c)</sup> | 43689493 |  |
| Cash | 8362 | 5919 |
| Cash pledged for futures contracts | 40000 |  |
| Foreign currency collateral pledged for futures contracts<sup>(d)</sup> | 48702 |  |
| Foreign currency, at value<sup>(e)</sup> | 267467 | 1551 |
| Receivables: |  |  |
| Investments sold | 961903 |  |
| Securities lending income—affiliated | 197038 | 129 |
| Capital shares sold | 1 |  |
| Dividends—unaffiliated | 220003 | 301 |
| Dividends—affiliated | 266 | 23 |
| Tax reclaims | 798801 | 150 |
| Variation margin on futures contracts | 16721 |  |
| Total assets | 241921028 | 3081686 |
| **LIABILITIES** |  |  |
| Bank borrowings |  | 6 |
| Collateral on securities loaned, at value | 43589052 |  |
| Payables: |  |  |
| Capital shares redeemed | 1073377 |  |
| Deferred foreign capital gain tax |  | 7215 |
| Investment advisory fees | 84015 | 2360 |
| Variation margin on futures contracts |  | 2 |
| Total liabilities | 44746444 | 9583 |
| **Commitments and contingent liabilities** |  |  |
| NET ASSETS | $197174584 | $3072103 |
| **NET ASSETS CONSIST OF** |  |  |
| Paid-in capital | $386752204 | $6697145 |
| Accumulated loss | (189577620) | (3625042) |
| NET ASSETS | $197174584 | $3072103 |
| **NET ASSET VALUE** |  |  |
| Shares outstanding | 6700000 | 200000 |
| Net asset value | $29.43 | $15.36 |
| Shares authorized | Unlimited | Unlimited |
| Par value |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $255900082 | $3746592 |
| <sup>(b)</sup> Securities loaned, at value | $41628103 | $— |
| <sup>(c)</sup> Investments, at cost—affiliated | $43690300 | $— |
| <sup>(d)</sup> Foreign currency collateral pledged, at cost | $48231 | $— |
| <sup>(e)</sup> Foreign currency, at cost | $263196 | $1549 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Operations

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Breakthrough <br> Environmental <br> Solutions <br> ETF <br>| &nbsp;&nbsp; iShares <br>Cybersecurity <br> and Tech <br> ETF <br>| &nbsp;&nbsp; iShares <br>Energy <br> Storage & <br> Materials <br> ETF <br>| &nbsp;&nbsp; iShares <br>Exponential <br> Technologies <br> ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $35359 | &nbsp;&nbsp;&nbsp; $6591665 | &nbsp;&nbsp;&nbsp; $110586 | &nbsp;&nbsp;&nbsp; $35824301 |
| Dividends—affiliated | &nbsp;&nbsp; 129 | &nbsp;&nbsp;&nbsp; 64354 | &nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp; 198732 |
| Interest—unaffiliated | &nbsp;&nbsp; 102 | &nbsp;&nbsp;&nbsp; 11541 | &nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp;&nbsp; 59141 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 6818 | &nbsp;&nbsp;&nbsp; 110232 | &nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp; 1652790 |
| Foreign taxes withheld | &nbsp;&nbsp; (3057)<br>| &nbsp;&nbsp;&nbsp; (514849)<br>| &nbsp;&nbsp;&nbsp; (13809)<br>| &nbsp;&nbsp;&nbsp; (2737170)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 160903 |
| Total investment income | &nbsp;&nbsp; 39351 | &nbsp;&nbsp;&nbsp; 6262943 | &nbsp;&nbsp;&nbsp; 96973 | &nbsp;&nbsp;&nbsp; 35158697 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 16437 | &nbsp;&nbsp;&nbsp; 3445852 | &nbsp;&nbsp;&nbsp; 14880 | &nbsp;&nbsp;&nbsp; 15200280 |
| Commitment costs | &nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp; 1835 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11601 |
| Professional | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19878 |
| Interest expense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp; 42299 |
| Total expenses | &nbsp;&nbsp; 16464 | &nbsp;&nbsp;&nbsp; 3447698 | &nbsp;&nbsp;&nbsp; 14898 | &nbsp;&nbsp;&nbsp; 15274058 |
| Net investment income | &nbsp;&nbsp; 22887 | &nbsp;&nbsp;&nbsp; 2815245 | &nbsp;&nbsp;&nbsp; 82075 | &nbsp;&nbsp;&nbsp; 19884639 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; (86291)<br>| &nbsp;&nbsp;&nbsp; 17233739 | &nbsp;&nbsp;&nbsp; (147425)<br>| &nbsp;&nbsp;&nbsp; (92770516)<br>|
| Investments—affiliated | &nbsp;&nbsp; (78)<br>| &nbsp;&nbsp;&nbsp; (3622)<br>| &nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 9829 |
| Foreign currency transactions | &nbsp;&nbsp; 1733 | &nbsp;&nbsp;&nbsp; (215349)<br>| &nbsp;&nbsp;&nbsp; (4018)<br>| &nbsp;&nbsp;&nbsp; (458694)<br>|
| Futures contracts | &nbsp;&nbsp; 626 | &nbsp;&nbsp;&nbsp; 461236 | &nbsp;&nbsp;&nbsp; 502 | &nbsp;&nbsp;&nbsp; 1534240 |
| In-kind redemptions—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10896543 | &nbsp;&nbsp;&nbsp; 68588 | &nbsp;&nbsp;&nbsp; 29006254 |
|  | &nbsp;&nbsp; (84010)<br>| &nbsp;&nbsp;&nbsp; 28372547 | &nbsp;&nbsp;&nbsp; (82345)<br>| &nbsp;&nbsp;&nbsp; (62678887)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated<sup>(c)</sup> | &nbsp;&nbsp; (788876)<br>| &nbsp;&nbsp;&nbsp; 89430437 | &nbsp;&nbsp;&nbsp; (337314)<br>| &nbsp;&nbsp;&nbsp; 101018314 |
| Investments—affiliated | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp;&nbsp; 3412 | &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; (1009)<br>|
| Foreign currency translations | &nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp; 6172 | &nbsp;&nbsp;&nbsp; (187)<br>| &nbsp;&nbsp;&nbsp; 51924 |
| Futures contracts | &nbsp;&nbsp; 592 | &nbsp;&nbsp;&nbsp; (99835)<br>| &nbsp;&nbsp;&nbsp; 1430 | &nbsp;&nbsp;&nbsp; (797822)<br>|
|  | &nbsp;&nbsp; (788267)<br>| &nbsp;&nbsp;&nbsp; 89340186 | &nbsp;&nbsp;&nbsp; (336069)<br>| &nbsp;&nbsp;&nbsp; 100271407 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; (872277)<br>| &nbsp;&nbsp;&nbsp; 117712733 | &nbsp;&nbsp;&nbsp; (418414)<br>| &nbsp;&nbsp;&nbsp; 37592520 |
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $(849390)<br>| &nbsp;&nbsp;&nbsp; $120527978 | &nbsp;&nbsp;&nbsp; $(336339)<br>| &nbsp;&nbsp;&nbsp; $57477159 |
| <sup>(a)</sup> Net of foreign capital gain tax and capital gain tax refund, if applicable of | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(711)<br>|
| <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. |
| <sup>(c)</sup> Net of increase in deferred foreign capital gain tax of | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(1315617)<br>|

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Operations(continued)

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Future Cloud <br> 5G and Tech <br> ETF <br>| &nbsp;&nbsp; iShares <br>Genomics <br> Immunology <br> and <br> Healthcare <br> ETF <br>| &nbsp;&nbsp; iShares <br>Neuroscience <br> and <br> Healthcare <br> ETF <br>| &nbsp;&nbsp; iShares <br>Robotics and <br> Artificial <br> Intelligence <br> Multisector <br> ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $89815 | &nbsp;&nbsp;&nbsp; $948047 | &nbsp;&nbsp;&nbsp; $2162 | &nbsp;&nbsp;&nbsp; $5317794 |
| Dividends—affiliated | &nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp; 9594 | &nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp; 43064 |
| Interest—unaffiliated | &nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp; 1411 | &nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp; 9584 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp; 493606 | &nbsp;&nbsp;&nbsp; 18531 | &nbsp;&nbsp;&nbsp; 2277067 |
| Foreign taxes withheld | &nbsp;&nbsp; (6761)<br>| &nbsp;&nbsp;&nbsp; (62301)<br>| &nbsp;&nbsp;&nbsp; (534)<br>| &nbsp;&nbsp;&nbsp; (479816)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 64454 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17754 |
| Total investment income | &nbsp;&nbsp; 83823 | &nbsp;&nbsp;&nbsp; 1454811 | &nbsp;&nbsp;&nbsp; 20374 | &nbsp;&nbsp;&nbsp; 7185447 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 30826 | &nbsp;&nbsp;&nbsp; 616871 | &nbsp;&nbsp;&nbsp; 18472 | &nbsp;&nbsp;&nbsp; 2734104 |
| Commitment costs | &nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3234 |
| Professional | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6451 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1775 |
| Interest expense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 417 |
| Total expenses | &nbsp;&nbsp; 30850 | &nbsp;&nbsp;&nbsp; 623483 | &nbsp;&nbsp;&nbsp; 18472 | &nbsp;&nbsp;&nbsp; 2739530 |
| Net investment income | &nbsp;&nbsp; 52973 | &nbsp;&nbsp;&nbsp; 831328 | &nbsp;&nbsp;&nbsp; 1902 | &nbsp;&nbsp;&nbsp; 4445917 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 57022 | &nbsp;&nbsp;&nbsp; (68109988)<br>| &nbsp;&nbsp;&nbsp; (222244)<br>| &nbsp;&nbsp;&nbsp; (15141868)<br>|
| Investments—affiliated | &nbsp;&nbsp; 1074 | &nbsp;&nbsp;&nbsp; (772)<br>| &nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp; (4843)<br>|
| Foreign currency transactions | &nbsp;&nbsp; (651)<br>| &nbsp;&nbsp;&nbsp; (4972)<br>| &nbsp;&nbsp;&nbsp; (102)<br>| &nbsp;&nbsp;&nbsp; (77172)<br>|
| Futures contracts | &nbsp;&nbsp; 1604 | &nbsp;&nbsp;&nbsp; 5236 | &nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp; 133174 |
| In-kind redemptions—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1909939 | &nbsp;&nbsp;&nbsp; 36418 | &nbsp;&nbsp;&nbsp; 7464772 |
|  | &nbsp;&nbsp; 59049 | &nbsp;&nbsp;&nbsp; (66200557)<br>| &nbsp;&nbsp;&nbsp; (185730)<br>| &nbsp;&nbsp;&nbsp; (7625937)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated<sup>(c)</sup> | &nbsp;&nbsp; 1175234 | &nbsp;&nbsp;&nbsp; 70929620 | &nbsp;&nbsp;&nbsp; 259391 | &nbsp;&nbsp;&nbsp; (3632618)<br>|
| Investments—affiliated | &nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp; 2905 | &nbsp;&nbsp;&nbsp; (7)<br>| &nbsp;&nbsp;&nbsp; 1376 |
| Foreign currency translations | &nbsp;&nbsp; (11)<br>| &nbsp;&nbsp;&nbsp; (792)<br>| &nbsp;&nbsp;&nbsp; (97)<br>| &nbsp;&nbsp;&nbsp; 10682 |
| Futures contracts | &nbsp;&nbsp; 1216 | &nbsp;&nbsp;&nbsp; 405 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (41077)<br>|
|  | &nbsp;&nbsp; 1176446 | &nbsp;&nbsp;&nbsp; 70932138 | &nbsp;&nbsp;&nbsp; 259287 | &nbsp;&nbsp;&nbsp; (3661637)<br>|
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; 1235495 | &nbsp;&nbsp;&nbsp; 4731581 | &nbsp;&nbsp;&nbsp; 73557 | &nbsp;&nbsp;&nbsp; (11287574)<br>|
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $1288468 | &nbsp;&nbsp;&nbsp; $5562909 | &nbsp;&nbsp;&nbsp; $75459 | &nbsp;&nbsp;&nbsp; $(6841657)<br>|
| <sup>(a)</sup> Net of foreign capital gain tax and capital gain tax refund, if applicable of | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(340779)<br>|
| <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. |
| <sup>(c)</sup> Net of increase in deferred foreign capital gain tax of | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(364795)<br>|

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Operations(continued)

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>Self-Driving <br> EV and Tech <br> ETF <br>| &nbsp;&nbsp; iShares <br>Virtual Work <br> and Life <br> Multisector <br> ETF <br>|
| **INVESTMENT INCOME** |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $4203168 | &nbsp;&nbsp;&nbsp; $9776 |
| Dividends—affiliated | &nbsp;&nbsp; 13740 | &nbsp;&nbsp;&nbsp; 120 |
| Interest—unaffiliated | &nbsp;&nbsp; 5739 | &nbsp;&nbsp;&nbsp; 181 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 3307968 | &nbsp;&nbsp;&nbsp; 2371 |
| Foreign taxes withheld | &nbsp;&nbsp; (489481)<br>| &nbsp;&nbsp;&nbsp; (267)<br>|
| Total investment income | &nbsp;&nbsp; 7041134 | &nbsp;&nbsp;&nbsp; 12181 |
| EXPENSES |  |  |
| Investment advisory | &nbsp;&nbsp; 1440717 | &nbsp;&nbsp;&nbsp; 14006 |
| Commitment costs | &nbsp;&nbsp; 2968 | &nbsp;&nbsp;&nbsp; 31 |
| Interest expense | &nbsp;&nbsp; 958 | &nbsp;&nbsp;&nbsp; 89 |
| Total expenses | &nbsp;&nbsp; 1444643 | &nbsp;&nbsp;&nbsp; 14126 |
| Net investment income (loss) | &nbsp;&nbsp; 5596491 | &nbsp;&nbsp;&nbsp; (1945)<br>|
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| Net realized gain (loss) from: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (39571181)<br>| &nbsp;&nbsp;&nbsp; (1155441)<br>|
| Investments—affiliated | &nbsp;&nbsp; 11198 | &nbsp;&nbsp;&nbsp; (13)<br>|
| Foreign currency transactions | &nbsp;&nbsp; (66399)<br>| &nbsp;&nbsp;&nbsp; (119)<br>|
| Futures contracts | &nbsp;&nbsp; 94715 | &nbsp;&nbsp;&nbsp; — |
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; (5975106)<br>| &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; (45506773)<br>| &nbsp;&nbsp;&nbsp; (1155573)<br>|
| Net change in unrealized appreciation (depreciation) on: |  |  |
| Investments—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; (120463530)<br>| &nbsp;&nbsp;&nbsp; 987104 |
| Investments—affiliated | &nbsp;&nbsp; (3305)<br>| &nbsp;&nbsp;&nbsp; (14)<br>|
| Foreign currency translations | &nbsp;&nbsp; (5771)<br>| &nbsp;&nbsp;&nbsp; (54)<br>|
| Futures contracts | &nbsp;&nbsp; (51681)<br>| &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; (120524287)<br>| &nbsp;&nbsp;&nbsp; 987036 |
| Net realized and unrealized loss | &nbsp;&nbsp; (166031060)<br>| &nbsp;&nbsp;&nbsp; (168537)<br>|
| NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $(160434569)<br>| &nbsp;&nbsp;&nbsp; $(170482)<br>|
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |
| <sup>(b)</sup> Net of increase in deferred foreign capital gain tax of | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(7215)<br>|

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Breakthrough Environmental <br> Solutions ETF  | iShares <br>Breakthrough Environmental <br> Solutions ETF  | iShares <br>Cybersecurity and Tech ETF  | iShares <br>Cybersecurity and Tech ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Period From <br>03/28/23<sup>(a)</sup> <br>to 07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $22887 | &nbsp;&nbsp;&nbsp; $23946 | &nbsp;&nbsp;&nbsp; $2815245 | &nbsp;&nbsp;&nbsp; $95018 |
| Net realized gain (loss) | &nbsp;&nbsp; (84010)<br>| &nbsp;&nbsp;&nbsp; 48582 | &nbsp;&nbsp;&nbsp; 28372547 | &nbsp;&nbsp;&nbsp; (7716347)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; (788267)<br>| &nbsp;&nbsp;&nbsp; 270071 | &nbsp;&nbsp;&nbsp; 89340186 | &nbsp;&nbsp;&nbsp; 50854326 |
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; (849390)<br>| &nbsp;&nbsp;&nbsp; 342599 | &nbsp;&nbsp;&nbsp; 120527978 | &nbsp;&nbsp;&nbsp; 43232997 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (154605)<br>| &nbsp;&nbsp;&nbsp; (16550)<br>| &nbsp;&nbsp;&nbsp; (763133)<br>| &nbsp;&nbsp;&nbsp; (566608)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4025360 | &nbsp;&nbsp;&nbsp; 126237823 | &nbsp;&nbsp;&nbsp; 35073669 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (1003995)<br>| &nbsp;&nbsp;&nbsp; 4351409 | &nbsp;&nbsp;&nbsp; 246002668 | &nbsp;&nbsp;&nbsp; 77740058 |
| Beginning of period | &nbsp;&nbsp; 4351409 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 617628655 | &nbsp;&nbsp;&nbsp; 539888597 |
| End of period | &nbsp;&nbsp; $3347414 | &nbsp;&nbsp;&nbsp; $4351409 | &nbsp;&nbsp;&nbsp; $863631323 | &nbsp;&nbsp;&nbsp; $617628655 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | iShares <br>Energy Storage & <br> Materials ETF <br>| iShares <br>Exponential Technologies ETF  | iShares <br>Exponential Technologies ETF  |
|  | Period From <br>03/19/24<sup>(a)</sup> <br>to 07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |
| **OPERATIONS** |  |  |  |
| Net investment income | &nbsp;&nbsp; $82075 | &nbsp;&nbsp;&nbsp; $19884639 | &nbsp;&nbsp;&nbsp; $18995296 |
| Net realized gain (loss) | &nbsp;&nbsp; (82345)<br>| &nbsp;&nbsp;&nbsp; (62678887)<br>| &nbsp;&nbsp;&nbsp; 36354440 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; (336069)<br>| &nbsp;&nbsp;&nbsp; 100271407 | &nbsp;&nbsp;&nbsp; 350427607 |
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; (336339)<br>| &nbsp;&nbsp;&nbsp; 57477159 | &nbsp;&nbsp;&nbsp; 405777343 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (65577)<br>| &nbsp;&nbsp;&nbsp; (15365276)<br>| &nbsp;&nbsp;&nbsp; (17634859)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 7120748 | &nbsp;&nbsp;&nbsp; (89025193)<br>| &nbsp;&nbsp;&nbsp; (80184166)<br>|
| *NET ASSETS* |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 6718832 | &nbsp;&nbsp;&nbsp; (46913310)<br>| &nbsp;&nbsp;&nbsp; 307958318 |
| Beginning of period | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3467600245 | &nbsp;&nbsp;&nbsp; 3159641927 |
| End of period | &nbsp;&nbsp; $6718832 | &nbsp;&nbsp;&nbsp; $3420686935 | &nbsp;&nbsp;&nbsp; $3467600245 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Future Cloud 5G and Tech ETF  | iShares <br>Future Cloud 5G and Tech ETF  | iShares <br>Genomics Immunology and Healthcare <br> ETF  | iShares <br>Genomics Immunology and Healthcare <br> ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $52973 | &nbsp;&nbsp;&nbsp; $54715 | &nbsp;&nbsp;&nbsp; $831328 | &nbsp;&nbsp;&nbsp; $640524 |
| Net realized gain (loss) | &nbsp;&nbsp; 59049 | &nbsp;&nbsp;&nbsp; (321517)<br>| &nbsp;&nbsp;&nbsp; (66200557)<br>| &nbsp;&nbsp;&nbsp; (52043410)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 1176446 | &nbsp;&nbsp;&nbsp; 1209602 | &nbsp;&nbsp;&nbsp; 70932138 | &nbsp;&nbsp;&nbsp; 2523191 |
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; 1288468 | &nbsp;&nbsp;&nbsp; 942800 | &nbsp;&nbsp;&nbsp; 5562909 | &nbsp;&nbsp;&nbsp; (48879695)<br>|
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (59322)<br>| &nbsp;&nbsp;&nbsp; (50307)<br>| &nbsp;&nbsp;&nbsp; (1625094)<br>| &nbsp;&nbsp;&nbsp; (435229)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net decrease in net assets derived from capital share transactions | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1935326)<br>| &nbsp;&nbsp;&nbsp; (8527225)<br>| &nbsp;&nbsp;&nbsp; (5024984)<br>|
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 1229146 | &nbsp;&nbsp;&nbsp; (1042833)<br>| &nbsp;&nbsp;&nbsp; (4589410)<br>| &nbsp;&nbsp;&nbsp; (54339908)<br>|
| Beginning of year | &nbsp;&nbsp; 6147554 | &nbsp;&nbsp;&nbsp; 7190387 | &nbsp;&nbsp;&nbsp; 144994331 | &nbsp;&nbsp;&nbsp; 199334239 |
| End of year | &nbsp;&nbsp; $7376700 | &nbsp;&nbsp;&nbsp; $6147554 | &nbsp;&nbsp;&nbsp; $140404921 | &nbsp;&nbsp;&nbsp; $144994331 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Neuroscience and Healthcare ETF  | iShares <br>Neuroscience and Healthcare ETF  | iShares <br>Robotics and Artificial Intelligence <br> Multisector ETF  | iShares <br>Robotics and Artificial Intelligence <br> Multisector ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Period From <br>08/24/22<sup>(a)</sup> <br>to 07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp; $1902 | &nbsp;&nbsp;&nbsp; $(3665)<br>| &nbsp;&nbsp;&nbsp; $4445917 | &nbsp;&nbsp;&nbsp; $2947690 |
| Net realized loss | &nbsp;&nbsp; (185730)<br>| &nbsp;&nbsp;&nbsp; (64142)<br>| &nbsp;&nbsp;&nbsp; (7625937)<br>| &nbsp;&nbsp;&nbsp; (23400784)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 259287 | &nbsp;&nbsp;&nbsp; (55264)<br>| &nbsp;&nbsp;&nbsp; (3661637)<br>| &nbsp;&nbsp;&nbsp; 90466793 |
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; 75459 | &nbsp;&nbsp;&nbsp; (123071)<br>| &nbsp;&nbsp;&nbsp; (6841657)<br>| &nbsp;&nbsp;&nbsp; 70013699 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(b)</sup> <br>|  |  |  |  |
| From net investment income | &nbsp;&nbsp; (945)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (4879653)<br>| &nbsp;&nbsp;&nbsp; (2261595)<br>|
| Return of capital | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1648)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (945)<br>| &nbsp;&nbsp;&nbsp; (1648)<br>| &nbsp;&nbsp;&nbsp; (4879653)<br>| &nbsp;&nbsp;&nbsp; (2261595)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (1143238)<br>| &nbsp;&nbsp;&nbsp; 5050047 | &nbsp;&nbsp;&nbsp; 138902356 | &nbsp;&nbsp;&nbsp; 182260510 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (1068724)<br>| &nbsp;&nbsp;&nbsp; 4925328 | &nbsp;&nbsp;&nbsp; 127181046 | &nbsp;&nbsp;&nbsp; 250012614 |
| Beginning of period | &nbsp;&nbsp; 4925328 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 511019672 | &nbsp;&nbsp;&nbsp; 261007058 |
| End of period | &nbsp;&nbsp; $3856604 | &nbsp;&nbsp;&nbsp; $4925328 | &nbsp;&nbsp;&nbsp; $638200718 | &nbsp;&nbsp;&nbsp; $511019672 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Commencement of operations. <br> <sup>(b)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Self-Driving EV and Tech ETF  | iShares <br>Self-Driving EV and Tech ETF  | iShares <br>Virtual Work and Life Multisector ETF  | iShares <br>Virtual Work and Life Multisector ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income (loss) | &nbsp;&nbsp; $5596491 | &nbsp;&nbsp;&nbsp; $10660434 | &nbsp;&nbsp;&nbsp; $(1945)<br>| &nbsp;&nbsp;&nbsp; $(931)<br>|
| Net realized loss | &nbsp;&nbsp; (45506773)<br>| &nbsp;&nbsp;&nbsp; (75864123)<br>| &nbsp;&nbsp;&nbsp; (1155573)<br>| &nbsp;&nbsp;&nbsp; (1372328)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; (120524287)<br>| &nbsp;&nbsp;&nbsp; 122532280 | &nbsp;&nbsp;&nbsp; 987036 | &nbsp;&nbsp;&nbsp; 1513040 |
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; (160434569)<br>| &nbsp;&nbsp;&nbsp; 57328591 | &nbsp;&nbsp;&nbsp; (170482)<br>| &nbsp;&nbsp;&nbsp; 139781 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (6348356)<br>| &nbsp;&nbsp;&nbsp; (8577251)<br>| &nbsp;&nbsp;&nbsp; (52633)<br>| &nbsp;&nbsp;&nbsp; (9849)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net decrease in net assets derived from capital share transactions | &nbsp;&nbsp; (130249809)<br>| &nbsp;&nbsp;&nbsp; (20839481)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1240169)<br>|
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (297032734)<br>| &nbsp;&nbsp;&nbsp; 27911859 | &nbsp;&nbsp;&nbsp; (223115)<br>| &nbsp;&nbsp;&nbsp; (1110237)<br>|
| Beginning of year | &nbsp;&nbsp; 494207318 | &nbsp;&nbsp;&nbsp; 466295459 | &nbsp;&nbsp;&nbsp; 3295218 | &nbsp;&nbsp;&nbsp; 4405455 |
| End of year | &nbsp;&nbsp; $197174584 | &nbsp;&nbsp;&nbsp; $494207318 | &nbsp;&nbsp;&nbsp; $3072103 | &nbsp;&nbsp;&nbsp; $3295218 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares Breakthrough Environmental Solutions ETF  | iShares Breakthrough Environmental Solutions ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Period From <br>03/28/23<sup>(a)</sup> <br>to 07/31/23<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $27.20 | &nbsp;&nbsp;&nbsp; $25.16 |
| Net investment income<sup>(b)</sup> | 0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.15 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | &nbsp;&nbsp; (5.45)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.99 |
| Net increase (decrease) from investment operations | &nbsp;&nbsp; (5.31)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2.14 |
| **Distributions**<sup>(d)</sup> <br>|  |  |
| From net investment income | &nbsp;&nbsp; (0.15)<br>| &nbsp;&nbsp;&nbsp; (0.10)<br>|
| From net realized gain | &nbsp;&nbsp; (0.82)<br>| &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (0.97)<br>| &nbsp;&nbsp;&nbsp; (0.10)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $20.92 | &nbsp;&nbsp;&nbsp; $27.20 |
| **Total Return**<sup>(e)</sup> <br>|  |  |
| Based on net asset value | &nbsp;&nbsp; (19.71)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.54 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |
| Total expenses | 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47 %<sup>(h)</sup><br>|
| Net investment income | 0.65<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.72 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $3347 | &nbsp;&nbsp;&nbsp; $4351 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 68<br> %<br>| &nbsp;&nbsp;&nbsp; 9<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Cybersecurity and Tech ETF  | iShares Cybersecurity and Tech ETF  | iShares Cybersecurity and Tech ETF  | iShares Cybersecurity and Tech ETF  | iShares Cybersecurity and Tech ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $39.47 | &nbsp;&nbsp;&nbsp; $36.73 | &nbsp;&nbsp;&nbsp; $43.87 | &nbsp;&nbsp;&nbsp; $33.69 | &nbsp;&nbsp;&nbsp; $26.58 |
| Net investment income<sup>(a)</sup> | 0.17 | &nbsp;&nbsp;&nbsp;&nbsp;0.01 | &nbsp;&nbsp;&nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp; 0.33 <br><sup>(b)</sup><br>|
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 7.22 | &nbsp;&nbsp;&nbsp;&nbsp;2.77 | &nbsp;&nbsp;&nbsp; (7.13)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10.22 | &nbsp;&nbsp;&nbsp;&nbsp;7.02 |
| Net increase (decrease) from investment operations | 7.39 | &nbsp;&nbsp;&nbsp;&nbsp;2.78 | &nbsp;&nbsp;&nbsp; (6.87)<br>| &nbsp;&nbsp;&nbsp;&nbsp;10.24 | &nbsp;&nbsp;&nbsp;&nbsp;7.35 |
| **Distributions**<sup>(d)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp;&nbsp; (0.15)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.09)<br>|
| Total distributions | &nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp;&nbsp; (0.04)<br>| &nbsp;&nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp;&nbsp; (0.06)<br>| &nbsp;&nbsp;&nbsp; (0.24)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $46.81 | &nbsp;&nbsp;&nbsp; $39.47 | &nbsp;&nbsp;&nbsp; $36.73 | &nbsp;&nbsp;&nbsp; $43.87 | &nbsp;&nbsp;&nbsp; $33.69 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 18.73<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.57<br> %<br>| &nbsp;&nbsp;&nbsp; (15.73)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 30.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 27.85<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>|
| Net investment income | 0.38<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.02<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.62<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.12 %<sup>(b)</sup><br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $863631 | &nbsp;&nbsp;&nbsp; $617629 | &nbsp;&nbsp;&nbsp; $539889 | &nbsp;&nbsp;&nbsp; $616394 | &nbsp;&nbsp;&nbsp; $109489 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 27<br> %<br>| &nbsp;&nbsp;&nbsp; 39<br> %<br>| &nbsp;&nbsp;&nbsp; 44<br> %<br>| &nbsp;&nbsp;&nbsp; 38<br> %<br>| &nbsp;&nbsp;&nbsp; 29<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Includes a one-time special distribution from NortonLifeLock Inc. Excluding such special distribution, the net investment income would have been $0.08 per share and 0.26% of average <br> net assets. | <sup>(b)</sup> Includes a one-time special distribution from NortonLifeLock Inc. Excluding such special distribution, the net investment income would have been $0.08 per share and 0.26% of average <br> net assets. | <sup>(b)</sup> Includes a one-time special distribution from NortonLifeLock Inc. Excluding such special distribution, the net investment income would have been $0.08 per share and 0.26% of average <br> net assets. | <sup>(b)</sup> Includes a one-time special distribution from NortonLifeLock Inc. Excluding such special distribution, the net investment income would have been $0.08 per share and 0.26% of average <br> net assets. | <sup>(b)</sup> Includes a one-time special distribution from NortonLifeLock Inc. Excluding such special distribution, the net investment income would have been $0.08 per share and 0.26% of average <br> net assets. | <sup>(b)</sup> Includes a one-time special distribution from NortonLifeLock Inc. Excluding such special distribution, the net investment income would have been $0.08 per share and 0.26% of average <br> net assets. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout the period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | iShares <br> Energy <br> Storage & <br> Materials <br> ETF <br>|
|  | Period From <br>03/19/24<sup>(a)</sup> <br>to 07/31/24<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $25.06 |
| Net investment income<sup>(b)</sup> | 0.23 |
| Net realized and unrealized loss<sup>(c)</sup> | &nbsp;&nbsp; (1.11)<br>|
| Net decrease from investment operations | &nbsp;&nbsp; (0.88)<br>|
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.18)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $24.00 |
| **Total Return**<sup>(e)</sup> <br>|  |
| Based on net asset value | &nbsp;&nbsp; (3.52 )%<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |
| Total expenses | 0.47 %<sup>(h)</sup><br>|
| Net investment income | 2.59 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $6719 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 40<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Exponential Technologies ETF  | iShares Exponential Technologies ETF  | iShares Exponential Technologies ETF  | iShares Exponential Technologies ETF  | iShares Exponential Technologies ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $58.48 | &nbsp;&nbsp;&nbsp; $52.01 | &nbsp;&nbsp;&nbsp; $63.91 | &nbsp;&nbsp;&nbsp; $47.25 | &nbsp;&nbsp;&nbsp; $38.89 |
| Net investment income<sup>(a)</sup> | 0.34 | &nbsp;&nbsp;&nbsp;&nbsp; 0.32 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;0.44 | &nbsp;&nbsp;&nbsp;&nbsp;0.52 | &nbsp;&nbsp;&nbsp;&nbsp;0.44 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 0.72 | &nbsp;&nbsp;&nbsp;&nbsp;6.44 | &nbsp;&nbsp;&nbsp; (11.84)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16.61 | &nbsp;&nbsp;&nbsp;&nbsp;8.47 |
| Net increase (decrease) from investment operations | 1.06 | &nbsp;&nbsp;&nbsp;&nbsp;6.76 | &nbsp;&nbsp;&nbsp; (11.40)<br>| &nbsp;&nbsp;&nbsp;&nbsp;17.13 | &nbsp;&nbsp;&nbsp;&nbsp;8.91 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp;&nbsp; (0.29)<br>| &nbsp;&nbsp;&nbsp; (0.50)<br>| &nbsp;&nbsp;&nbsp; (0.47)<br>| &nbsp;&nbsp;&nbsp; (0.55)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $59.28 | &nbsp;&nbsp;&nbsp; $58.48 | &nbsp;&nbsp;&nbsp; $52.01 | &nbsp;&nbsp;&nbsp; $63.91 | &nbsp;&nbsp;&nbsp; $47.25 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 1.84<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.05 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (17.91)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 36.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23.05<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.46<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.46<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.46<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.46<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>|
| Net investment income | 0.60<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.62 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.91<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.07<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $3420687 | &nbsp;&nbsp;&nbsp; $3467600 | &nbsp;&nbsp;&nbsp; $3159642 | &nbsp;&nbsp;&nbsp; $3914578 | &nbsp;&nbsp;&nbsp; $2657627 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 45<br> %<br>| &nbsp;&nbsp;&nbsp; 45<br> %<br>| &nbsp;&nbsp;&nbsp; 69<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023: <br> • Net investment income per share by $0.01. <br> • Total return by 0.01%. <br> • Ratio of net investment income to average net assets by 0.01%. | <sup>(b)</sup> Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023: <br> • Net investment income per share by $0.01. <br> • Total return by 0.01%. <br> • Ratio of net investment income to average net assets by 0.01%. | <sup>(b)</sup> Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023: <br> • Net investment income per share by $0.01. <br> • Total return by 0.01%. <br> • Ratio of net investment income to average net assets by 0.01%. | <sup>(b)</sup> Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023: <br> • Net investment income per share by $0.01. <br> • Total return by 0.01%. <br> • Ratio of net investment income to average net assets by 0.01%. | <sup>(b)</sup> Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023: <br> • Net investment income per share by $0.01. <br> • Total return by 0.01%. <br> • Ratio of net investment income to average net assets by 0.01%. | <sup>(b)</sup> Reflects the one-time, positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023: <br> • Net investment income per share by $0.01. <br> • Total return by 0.01%. <br> • Ratio of net investment income to average net assets by 0.01%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares Future Cloud 5G and Tech ETF  | iShares Future Cloud 5G and Tech ETF  | iShares Future Cloud 5G and Tech ETF  | iShares Future Cloud 5G and Tech ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Period From <br>06/08/21<sup>(a)</sup> <br>to 07/31/21<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $25.61 | &nbsp;&nbsp;&nbsp; $22.47 | &nbsp;&nbsp;&nbsp; $26.16 | &nbsp;&nbsp;&nbsp; $25.07 |
| Net investment income<sup>(b)</sup> | 0.22 | &nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;0.04 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 5.16 | &nbsp;&nbsp;&nbsp;&nbsp;3.12 | &nbsp;&nbsp;&nbsp; (3.70)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.05 |
| Net increase (decrease) from investment operations | 5.38 | &nbsp;&nbsp;&nbsp;&nbsp;3.31 | &nbsp;&nbsp;&nbsp; (3.49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.09 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.25)<br>| &nbsp;&nbsp;&nbsp; (0.17)<br>| &nbsp;&nbsp;&nbsp; (0.20)<br>| &nbsp;&nbsp;&nbsp; — |
| **Net asset value, end of period** | &nbsp;&nbsp; $30.74 | &nbsp;&nbsp;&nbsp; $25.61 | &nbsp;&nbsp;&nbsp; $22.47 | &nbsp;&nbsp;&nbsp; $26.16 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |
| Based on net asset value | 21.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 14.84<br> %<br>| &nbsp;&nbsp;&nbsp; (13.46)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.35 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |  |
| Total expenses | 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47 %<sup>(h)</sup><br>|
| Net investment income | 0.81<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.87<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.80<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.09 %<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $7377 | &nbsp;&nbsp;&nbsp; $6148 | &nbsp;&nbsp;&nbsp; $7190 | &nbsp;&nbsp;&nbsp; $8370 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 37<br> %<br>| &nbsp;&nbsp;&nbsp; 45<br> %<br>| &nbsp;&nbsp;&nbsp; 51<br> %<br>| &nbsp;&nbsp;&nbsp; 0<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Genomics Immunology and Healthcare ETF  | iShares Genomics Immunology and Healthcare ETF  | iShares Genomics Immunology and Healthcare ETF  | iShares Genomics Immunology and Healthcare ETF  | iShares Genomics Immunology and Healthcare ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $23.97 | &nbsp;&nbsp;&nbsp; $31.64 | &nbsp;&nbsp;&nbsp; $50.05 | &nbsp;&nbsp;&nbsp; $37.28 | &nbsp;&nbsp;&nbsp; $27.61 |
| Net investment income<sup>(a)</sup> | 0.14 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.10 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;&nbsp;0.17 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 1.02 | &nbsp;&nbsp;&nbsp; (7.70)<br>| &nbsp;&nbsp;&nbsp; (18.16)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.78 | &nbsp;&nbsp;&nbsp;&nbsp;9.82 |
| Net increase (decrease) from investment operations | 1.16 | &nbsp;&nbsp;&nbsp; (7.60)<br>| &nbsp;&nbsp;&nbsp; (18.02)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.86 | &nbsp;&nbsp;&nbsp;&nbsp;9.99 |
| **Distributions**<sup>(d)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp;&nbsp; (0.08)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.24)<br>|
| Total distributions | &nbsp;&nbsp; (0.28)<br>| &nbsp;&nbsp;&nbsp; (0.07)<br>| &nbsp;&nbsp;&nbsp; (0.39)<br>| &nbsp;&nbsp;&nbsp; (0.09)<br>| &nbsp;&nbsp;&nbsp; (0.32)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $24.85 | &nbsp;&nbsp;&nbsp; $23.97 | &nbsp;&nbsp;&nbsp; $31.64 | &nbsp;&nbsp;&nbsp; $50.05 | &nbsp;&nbsp;&nbsp; $37.28 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 4.98 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (24.04 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (36.11)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 34.49<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 36.42<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.48<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 0.63 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.54<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $140405 | &nbsp;&nbsp;&nbsp; $144994 | &nbsp;&nbsp;&nbsp; $199334 | &nbsp;&nbsp;&nbsp; $327818 | &nbsp;&nbsp;&nbsp; $141675 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 51<br> %<br>| &nbsp;&nbsp;&nbsp; 45<br> %<br>| &nbsp;&nbsp;&nbsp; 59<br> %<br>| &nbsp;&nbsp;&nbsp; 52<br> %<br>| &nbsp;&nbsp;&nbsp; 38<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.05% and 0.03%. <br> • Ratio of net investment income to average net assets by 0.04% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.05% and 0.03%. <br> • Ratio of net investment income to average net assets by 0.04% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.05% and 0.03%. <br> • Ratio of net investment income to average net assets by 0.04% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.05% and 0.03%. <br> • Ratio of net investment income to average net assets by 0.04% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.05% and 0.03%. <br> • Ratio of net investment income to average net assets by 0.04% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Net investment income per share by $0.01 and $0.01. <br> • Total return by 0.05% and 0.03%. <br> • Ratio of net investment income to average net assets by 0.04% and 0.04%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares Neuroscience and Healthcare ETF  | iShares Neuroscience and Healthcare ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Period From <br>08/24/22<sup>(a)</sup> <br>to 07/31/23<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $24.63 | &nbsp;&nbsp;&nbsp; $25.25 |
| Net investment income (loss)<sup>(b)</sup> | 0.01 | &nbsp;&nbsp;&nbsp; (0.02)<br>|
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 1.08 | &nbsp;&nbsp;&nbsp; (0.59)<br>|
| Net increase (decrease) from investment operations | 1.09 | &nbsp;&nbsp;&nbsp; (0.61)<br>|
| **Distributions**<sup>(d)</sup> <br>|  |  |
| From net investment income | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp;&nbsp; — |
| Return of capital | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.01)<br>|
| Total distributions | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp;&nbsp; (0.01)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $25.71 | &nbsp;&nbsp;&nbsp; $24.63 |
| **Total Return**<sup>(e)</sup> <br>|  |  |
| Based on net asset value | 4.43<br> %<br>| &nbsp;&nbsp;&nbsp; (2.45 )%<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |
| Total expenses | 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47 %<sup>(h)</sup><br>|
| Net investment income (loss) | 0.05<br> %<br>| &nbsp;&nbsp;&nbsp; (0.08 )%<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $3857 | &nbsp;&nbsp;&nbsp; $4925 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 47<br> %<br>| &nbsp;&nbsp;&nbsp; 61<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Robotics and Artificial Intelligence Multisector ETF  | iShares Robotics and Artificial Intelligence Multisector ETF  | iShares Robotics and Artificial Intelligence Multisector ETF  | iShares Robotics and Artificial Intelligence Multisector ETF  | iShares Robotics and Artificial Intelligence Multisector ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $34.53 | &nbsp;&nbsp;&nbsp; $28.37 | &nbsp;&nbsp;&nbsp; $43.34 | &nbsp;&nbsp;&nbsp; $31.43 | &nbsp;&nbsp;&nbsp; $24.99 |
| Net investment income<sup>(a)</sup> | 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | &nbsp;&nbsp; (0.92)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.07 | &nbsp;&nbsp;&nbsp; (14.03)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.00 | &nbsp;&nbsp;&nbsp;&nbsp;6.44 |
| Net increase (decrease) from investment operations | &nbsp;&nbsp; (0.67)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.37 | &nbsp;&nbsp;&nbsp; (13.92)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.17 | &nbsp;&nbsp;&nbsp;&nbsp;6.55 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (0.27)<br>| &nbsp;&nbsp;&nbsp; (0.21)<br>| &nbsp;&nbsp;&nbsp; (1.05)<br>| &nbsp;&nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp;&nbsp; (0.11)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $33.59 | &nbsp;&nbsp;&nbsp; $34.53 | &nbsp;&nbsp;&nbsp; $28.37 | &nbsp;&nbsp;&nbsp; $43.34 | &nbsp;&nbsp;&nbsp; $31.43 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | &nbsp;&nbsp; (1.95 )%<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 22.55 %<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; (32.79)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 38.79<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 26.27<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>|
| Net investment income | 0.76 %<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.02 %<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $638201 | &nbsp;&nbsp;&nbsp; $511020 | &nbsp;&nbsp;&nbsp; $261007 | &nbsp;&nbsp;&nbsp; $433445 | &nbsp;&nbsp;&nbsp; $157172 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 40<br> %<br>| &nbsp;&nbsp;&nbsp; 35<br> %<br>| &nbsp;&nbsp;&nbsp; 58<br> %<br>| &nbsp;&nbsp;&nbsp; 42<br> %<br>| &nbsp;&nbsp;&nbsp; 34<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Total return by 0.00% and 0.01%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.01%. | <sup>(e)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Total return by 0.00% and 0.01%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.01%. | <sup>(e)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Total return by 0.00% and 0.01%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.01%. | <sup>(e)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Total return by 0.00% and 0.01%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.01%. | <sup>(e)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Total return by 0.00% and 0.01%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.01%. | <sup>(e)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively: <br> • Total return by 0.00% and 0.01%. <br> • Ratio of net investment income to average net assets by 0.01% and 0.01%. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Self-Driving EV and Tech ETF  | iShares Self-Driving EV and Tech ETF  | iShares Self-Driving EV and Tech ETF  | iShares Self-Driving EV and Tech ETF  | iShares Self-Driving EV and Tech ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $45.76 | &nbsp;&nbsp;&nbsp; $40.90 | &nbsp;&nbsp;&nbsp; $49.91 | &nbsp;&nbsp;&nbsp; $29.69 | &nbsp;&nbsp;&nbsp; $24.08 |
| Net investment income<sup>(a)</sup> | 0.61 | &nbsp;&nbsp;&nbsp;&nbsp; 0.95 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | &nbsp;&nbsp; (16.20)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4.68 | &nbsp;&nbsp;&nbsp; (8.71)<br>| &nbsp;&nbsp;&nbsp;&nbsp;20.04 | &nbsp;&nbsp;&nbsp;&nbsp;5.59 |
| Net increase (decrease) from investment operations | &nbsp;&nbsp; (15.59)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.63 | &nbsp;&nbsp;&nbsp; (8.17)<br>| &nbsp;&nbsp;&nbsp;&nbsp;20.54 | &nbsp;&nbsp;&nbsp;&nbsp;5.96 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.74)<br>| &nbsp;&nbsp;&nbsp; (0.77)<br>| &nbsp;&nbsp;&nbsp; (0.84)<br>| &nbsp;&nbsp;&nbsp; (0.32)<br>| &nbsp;&nbsp;&nbsp; (0.35)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $29.43 | &nbsp;&nbsp;&nbsp; $45.76 | &nbsp;&nbsp;&nbsp; $40.90 | &nbsp;&nbsp;&nbsp; $49.91 | &nbsp;&nbsp;&nbsp; $29.69 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | &nbsp;&nbsp; (34.17)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 14.17<br> %<br>| &nbsp;&nbsp;&nbsp; (16.54)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 69.28<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 24.91 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>|
| Net investment income | 1.83<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.48 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.10<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.44<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $197175 | &nbsp;&nbsp;&nbsp; $494207 | &nbsp;&nbsp;&nbsp; $466295 | &nbsp;&nbsp;&nbsp; $429185 | &nbsp;&nbsp;&nbsp; $32660 |
| Portfolio turnover rate<sup>(h)</sup> | &nbsp;&nbsp; 38<br> %<br>| &nbsp;&nbsp;&nbsp; 85<br> %<br>| &nbsp;&nbsp;&nbsp; 41<br> %<br>| &nbsp;&nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 19<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Includes a special distribution from Volkswagen AG. Excluding such special distribution, the net investment income would have been $0.72 per share and 1.89% of average net assets. | <sup>(b)</sup> Includes a special distribution from Volkswagen AG. Excluding such special distribution, the net investment income would have been $0.72 per share and 1.89% of average net assets. | <sup>(b)</sup> Includes a special distribution from Volkswagen AG. Excluding such special distribution, the net investment income would have been $0.72 per share and 1.89% of average net assets. | <sup>(b)</sup> Includes a special distribution from Volkswagen AG. Excluding such special distribution, the net investment income would have been $0.72 per share and 1.89% of average net assets. | <sup>(b)</sup> Includes a special distribution from Volkswagen AG. Excluding such special distribution, the net investment income would have been $0.72 per share and 1.89% of average net assets. | <sup>(b)</sup> Includes a special distribution from Volkswagen AG. Excluding such special distribution, the net investment income would have been $0.72 per share and 1.89% of average net assets. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(f)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(h)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares Virtual Work and Life Multisector ETF  | iShares Virtual Work and Life Multisector ETF  | iShares Virtual Work and Life Multisector ETF  | iShares Virtual Work and Life Multisector ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Period From <br>09/29/20<sup>(a)</sup> <br>to 07/31/21<br>|
| **Net asset value, beginning of period** | &nbsp;&nbsp; $16.48 | &nbsp;&nbsp;&nbsp; $14.68 | &nbsp;&nbsp;&nbsp; $28.22 | &nbsp;&nbsp;&nbsp; $25.22 |
| Net investment loss<sup>(b)</sup> | &nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp;&nbsp; (0.00)<br>| &nbsp;&nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp;&nbsp; (0.04)<br>|
| Net realized and unrealized gain (loss)<sup>(c)</sup> | &nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.85 | &nbsp;&nbsp;&nbsp; (13.50)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.09 |
| Net increase (decrease) from investment operations | &nbsp;&nbsp; (0.86)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1.85 | &nbsp;&nbsp;&nbsp; (13.52)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3.05 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (0.26)<br>| &nbsp;&nbsp;&nbsp; (0.05)<br>| &nbsp;&nbsp;&nbsp; (0.02)<br>| &nbsp;&nbsp;&nbsp; (0.05)<br>|
| **Net asset value, end of period** | &nbsp;&nbsp; $15.36 | &nbsp;&nbsp;&nbsp; $16.48 | &nbsp;&nbsp;&nbsp; $14.68 | &nbsp;&nbsp;&nbsp; $28.22 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |
| Based on net asset value | &nbsp;&nbsp; (5.16)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.58<br> %<br>| &nbsp;&nbsp;&nbsp; (47.89)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.11 %<sup>(f)</sup><br>|
| **Ratios to Average Net Assets**<sup>(g)</sup> <br>|  |  |  |  |
| Total expenses | 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.47 %<sup>(h)</sup><br>|
| Net investment loss | &nbsp;&nbsp; (0.07)%<br>| &nbsp;&nbsp;&nbsp; (0.03)%<br>| &nbsp;&nbsp;&nbsp; (0.08)%<br>| &nbsp;&nbsp;&nbsp; (0.16 )%<sup>(h)</sup><br>|
| **Supplemental Data** |  |  |  |  |
| Net assets, end of period (000) | &nbsp;&nbsp; $3072 | &nbsp;&nbsp;&nbsp; $3295 | &nbsp;&nbsp;&nbsp; $4405 | &nbsp;&nbsp;&nbsp; $8466 |
| Portfolio turnover rate<sup>(i)</sup> | &nbsp;&nbsp; 43<br> %<br>| &nbsp;&nbsp;&nbsp; 47<br> %<br>| &nbsp;&nbsp;&nbsp; 46<br> %<br>| &nbsp;&nbsp;&nbsp; 27<br> %<br>|
| <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. | <sup>(a)</sup> Commencement of operations. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. | <sup>(f)</sup> Not annualized. |
| <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(g)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. | <sup>(h)</sup> Annualized. |
| <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(i)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| Breakthrough Environmental Solutions | &nbsp;&nbsp; Non-diversified |
| Cybersecurity and Tech | &nbsp;&nbsp; Non-diversified |
| Energy Storage & Materials<sup>(a)</sup> | &nbsp;&nbsp; Non-diversified |
| Exponential Technologies | &nbsp;&nbsp; Diversified |
| Future Cloud 5G and Tech | &nbsp;&nbsp; Diversified<sup>(b)</sup> <br>|
| Genomics Immunology and Healthcare | &nbsp;&nbsp; Non-diversified |
| Neuroscience and Healthcare | &nbsp;&nbsp; Non-diversified |
| Robotics and Artificial Intelligence Multisector | &nbsp;&nbsp; Diversified |
| Self-Driving EV and Tech | &nbsp;&nbsp; Non-diversified |
| Virtual Work and Life Multisector | &nbsp;&nbsp; Diversified |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund commenced operations on March 19, 2024. <br> <sup>(b)</sup> The Fund's classification changed from non-diversified to diversified during the reporting period.

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Foreign Taxes:** The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2024, if any, are disclosed in the Statements of Assets and Liabilities.

The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**Collateralization:** If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income, net realized capital gains and/or return of capital for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

The portion of distributions that exceeds each Fund's current and accumulated earnings and profits will constitute a non-taxable return of capital. Distributions in excess of each Fund's minimum distribution requirements, but not in excess of the Fund's earnings and profits, will be taxable to the Fund's shareholders and will not constitute non-taxable returns of capital. Return of capital distributions will reduce a shareholder's cost basis and will result in higher capital gains or lower capital losses when each Fund's shares on which distributions were received are sold. Once a shareholder's cost basis is reduced to zero, further distributions will be treated as capital gains.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's published NAV.

&nbsp;&nbsp;&nbsp;&nbsp;• Futures contracts are valued based on that day's last reported settlement or trade price on the exchange where the contract is traded.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange ("NYSE"). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments ("Systematic Fair Value Price"). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** 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:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 that may not have a secondary market and/or may have 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.

***4. SECURITIES AND OTHER INVESTMENTS***

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| Cybersecurity and Tech |  |  |  |  |
| BNP Paribas SA | &nbsp;&nbsp; $70152 | &nbsp;&nbsp;&nbsp; $(70152) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BofA Securities, Inc. | &nbsp;&nbsp; 822930 | &nbsp;&nbsp;&nbsp; (822930) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 20236031 | &nbsp;&nbsp;&nbsp; (20236031) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 14151110 | &nbsp;&nbsp;&nbsp; (14151110) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 711124 | &nbsp;&nbsp;&nbsp; (711124) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 34668030 | &nbsp;&nbsp;&nbsp; (34668030) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 18345 | &nbsp;&nbsp;&nbsp; (18345) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 121897 | &nbsp;&nbsp;&nbsp; (121897) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Virtu Americas LLC | &nbsp;&nbsp; 53280 | &nbsp;&nbsp;&nbsp; (53280) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 25612754 | &nbsp;&nbsp;&nbsp; (25550726) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 62028<sup>(b)</sup> <br>|
|  | &nbsp;&nbsp; $96465653 | &nbsp;&nbsp;&nbsp; $(96403625) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $62028 |
| Energy Storage & Materials |  |  |  |  |
| Jefferies LLC | &nbsp;&nbsp; $14294 | &nbsp;&nbsp;&nbsp; $(14294) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Exponential Technologies |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $6557581 | &nbsp;&nbsp;&nbsp; $(6557581) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 336013 | &nbsp;&nbsp;&nbsp; (336013) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 3362026 | &nbsp;&nbsp;&nbsp; (3362026) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citadel Clearing LLC | &nbsp;&nbsp; 5695421 | &nbsp;&nbsp;&nbsp; (5695421) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 2009046 | &nbsp;&nbsp;&nbsp; (2009046) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 14795939 | &nbsp;&nbsp;&nbsp; (14795939) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 18181499 | &nbsp;&nbsp;&nbsp; (18181499) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 16627448 | &nbsp;&nbsp;&nbsp; (16627448) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 6020927 | &nbsp;&nbsp;&nbsp; (6020927) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 15952046 | &nbsp;&nbsp;&nbsp; (15952046) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 16864562 | &nbsp;&nbsp;&nbsp; (16864562) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 442476 | &nbsp;&nbsp;&nbsp; (442476) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 2449203 | &nbsp;&nbsp;&nbsp; (2449203) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 962561 | &nbsp;&nbsp;&nbsp; (931711) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 30850<sup>(b)</sup> <br>|
| Wells Fargo Securities LLC | &nbsp;&nbsp; 11458 | &nbsp;&nbsp;&nbsp; (11458) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $110268206 | &nbsp;&nbsp;&nbsp; $(110237356) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $30850 |
| Future Cloud 5G and Tech |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $129279 | &nbsp;&nbsp;&nbsp; $(125539) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3740<sup>(b)</sup> <br>|
| Genomics Immunology and Healthcare |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $249321 | &nbsp;&nbsp;&nbsp; $(249321) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 2473106 | &nbsp;&nbsp;&nbsp; (2473106) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 1313250 | &nbsp;&nbsp;&nbsp; (1313250) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 3857739 | &nbsp;&nbsp;&nbsp; (3857739) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 4147 | &nbsp;&nbsp;&nbsp; (4123) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 24<sup>(b)</sup> <br>|
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 3800726 | &nbsp;&nbsp;&nbsp; (3800726) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 556760 | &nbsp;&nbsp;&nbsp; (556760) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 15443 | &nbsp;&nbsp;&nbsp; (15443) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 272277 | &nbsp;&nbsp;&nbsp; (270685) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1592<sup>(b)</sup> <br>|
|  | &nbsp;&nbsp; $12542769 | &nbsp;&nbsp;&nbsp; $(12541153) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1616 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| Neuroscience and Healthcare |  |  |  |  |
| BofA Securities, Inc. | &nbsp;&nbsp; $50944 | &nbsp;&nbsp;&nbsp; $(49570) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1374<sup>(b)</sup> <br>|
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 43747 | &nbsp;&nbsp;&nbsp; (43676) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 71<sup>(b)</sup> <br>|
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 110896 | &nbsp;&nbsp;&nbsp; (97108) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 13788<sup>(b)</sup> <br>|
| Jefferies LLC | &nbsp;&nbsp; 11951 | &nbsp;&nbsp;&nbsp; (11951) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 128654 | &nbsp;&nbsp;&nbsp; (128654) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 124270 | &nbsp;&nbsp;&nbsp; (124270) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $470462 | &nbsp;&nbsp;&nbsp; $(455229) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $15233 |
| Robotics and Artificial Intelligence Multisector |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $2117472 | &nbsp;&nbsp;&nbsp; $(2117472) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 345908 | &nbsp;&nbsp;&nbsp; (345908) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 8496009 | &nbsp;&nbsp;&nbsp; (8496009) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 13256466 | &nbsp;&nbsp;&nbsp; (13256466) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 217802 | &nbsp;&nbsp;&nbsp; (217802) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 17894755 | &nbsp;&nbsp;&nbsp; (17894755) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 1175788 | &nbsp;&nbsp;&nbsp; (1175788) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 4398644 | &nbsp;&nbsp;&nbsp; (4398644) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 2143455 | &nbsp;&nbsp;&nbsp; (2143455) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| National Financial Services LLC | &nbsp;&nbsp; 189784 | &nbsp;&nbsp;&nbsp; (189784) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 92951 | &nbsp;&nbsp;&nbsp; (92951) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 1514765 | &nbsp;&nbsp;&nbsp; (1514765) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 379008 | &nbsp;&nbsp;&nbsp; (374280) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4728<sup>(b)</sup> <br>|
|  | &nbsp;&nbsp; $52222807 | &nbsp;&nbsp;&nbsp; $(52218079) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $4728 |
| Self-Driving EV and Tech |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $4985853 | &nbsp;&nbsp;&nbsp; $(4985853) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 2066590 | &nbsp;&nbsp;&nbsp; (2066590) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 4486530 | &nbsp;&nbsp;&nbsp; (4486530) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 19075460 | &nbsp;&nbsp;&nbsp; (19075460) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| ING Financial Markets LLC | &nbsp;&nbsp; 302438 | &nbsp;&nbsp;&nbsp; (302438) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 9989962 | &nbsp;&nbsp;&nbsp; (9989962) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 377418 | &nbsp;&nbsp;&nbsp; (377418) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 226987 | &nbsp;&nbsp;&nbsp; (226987) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS Securities LLC | &nbsp;&nbsp; 43897 | &nbsp;&nbsp;&nbsp; (43897) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Virtu Americas LLC | &nbsp;&nbsp; 72968 | &nbsp;&nbsp;&nbsp; (72968) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $41628103 | &nbsp;&nbsp;&nbsp; $(41628103) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

<sup>(b)</sup> The market value of the loaned securities is determined as of July 31, 2024. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by a counterparty. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. ("BlackRock"). BlackRock's indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. DERIVATIVE FINANCIAL INSTRUMENTS***

**Futures Contracts:** Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract's size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.

Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.

***6. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| Breakthrough Environmental Solutions | 0.47% |
| Cybersecurity and Tech | 0.47 |
| Energy Storage & Materials | 0.47 |
| Future Cloud 5G and Tech | 0.47 |
| Genomics Immunology and Healthcare | 0.47 |
| Neuroscience and Healthcare | 0.47 |
| Robotics and Artificial Intelligence Multisector | 0.47 |
| Self-Driving EV and Tech | 0.47 |
| Virtual Work and Life Multisector | 0.47 |

---

For its investment advisory services to the iShares Exponential Technologies ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund's allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

---

| | |
|:---|:---|
| *Aggregate Average Net Assets* | *Investment Advisory Fees* |
| First $2 billion | 0.4700% |
| Over $2 billion, up to and including $3 billion | 0.4465 |
| Over $3 billion, up to and including $4 billion | 0.4242 |
| Over $4 billion | 0.4030 |

---

**Distributor:** BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, redemption fee, distribution fee or service fee. The money market fund in which the cash collateral has been invested may impose a discretionary liquidity fee of up to 2% of the value redeemed, if such fee is determined to be in the best interests of such money market fund.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each of iShares Cybersecurity and Tech ETF, iShares Future Cloud 5G and Tech ETF, iShares Genomics Immunology and Healthcare ETF, iShares Neuroscience and Healthcare ETF and iShares Virtual Work and Life Multisector ETF (the "Group 1 Funds"), retains 81% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

Pursuant to the current securities lending agreement, each of iShares Breakthrough Environmental Solutions ETF, iShares Energy Storage & Materials ETF, iShares Exponential Technologies ETF, iShares Robotics and Artificial Intelligence Multisector ETF and iShares Self-Driving EV and Tech ETF (the "Group 2 Funds"), retains 82% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in a given calendar year exceeds a specified threshold: (1) each Group 1 Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 81% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees, and (2) each Group 2 Fund will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended July 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| Breakthrough Environmental Solutions | &nbsp;&nbsp; $1546 |
| Cybersecurity and Tech | &nbsp;&nbsp; 43247 |
| Energy Storage & Materials | &nbsp;&nbsp; 12 |
| Exponential Technologies | &nbsp;&nbsp; 418418 |
| Future Cloud 5G and Tech | &nbsp;&nbsp; 164 |
| Genomics Immunology and Healthcare | &nbsp;&nbsp; 114941 |
| Neuroscience and Healthcare | &nbsp;&nbsp; 4527 |
| Robotics and Artificial Intelligence Multisector | &nbsp;&nbsp; 512531 |
| Self-Driving EV and Tech | &nbsp;&nbsp; 700852 |
| Virtual Work and Life Multisector | &nbsp;&nbsp; 628 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**Other Transactions:** Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the year ended July 31, 2024, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* | &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>|
| Cybersecurity and Tech | &nbsp;&nbsp; $15361857 | &nbsp;&nbsp;&nbsp; $53026638 | &nbsp;&nbsp;&nbsp; $188272 |
| Exponential Technologies | &nbsp;&nbsp; 140350849 | &nbsp;&nbsp;&nbsp; 318905448 | &nbsp;&nbsp;&nbsp; 44096061 |
| Future Cloud 5G and Tech | &nbsp;&nbsp; 866091 | &nbsp;&nbsp;&nbsp; 555141 | &nbsp;&nbsp;&nbsp; 44241 |
| Genomics Immunology and Healthcare | &nbsp;&nbsp; 7092225 | &nbsp;&nbsp;&nbsp; 15992888 | &nbsp;&nbsp;&nbsp; (3541469) |
| Robotics and Artificial Intelligence Multisector | &nbsp;&nbsp; 35608928 | &nbsp;&nbsp;&nbsp; 44345314 | &nbsp;&nbsp;&nbsp; 9820579 |
| Self-Driving EV and Tech | &nbsp;&nbsp; 15364108 | &nbsp;&nbsp;&nbsp; 21178688 | &nbsp;&nbsp;&nbsp; (5933249) |
| Virtual Work and Life Multisector | &nbsp;&nbsp; 249083 | &nbsp;&nbsp;&nbsp; 298168 | &nbsp;&nbsp;&nbsp; (270921) |

---

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***7. PURCHASES AND SALES***

For the year ended July 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| Breakthrough Environmental Solutions | &nbsp;&nbsp; $2383610 | &nbsp;&nbsp;&nbsp; $2521938 |
| Cybersecurity and Tech | &nbsp;&nbsp; 212747529 | &nbsp;&nbsp;&nbsp; 201579815 |
| Energy Storage & Materials | &nbsp;&nbsp; 5041224 | &nbsp;&nbsp;&nbsp; 3268362 |
| Exponential Technologies | &nbsp;&nbsp; 1494620515 | &nbsp;&nbsp;&nbsp; 1491213766 |
| Future Cloud 5G and Tech | &nbsp;&nbsp; 2445200 | &nbsp;&nbsp;&nbsp; 2460708 |
| Genomics Immunology and Healthcare | &nbsp;&nbsp; 67427294 | &nbsp;&nbsp;&nbsp; 68506846 |
| Neuroscience and Healthcare | &nbsp;&nbsp; 1871933 | &nbsp;&nbsp;&nbsp; 1930503 |
| Robotics and Artificial Intelligence Multisector | &nbsp;&nbsp; 265058981 | &nbsp;&nbsp;&nbsp; 234382685 |
| Self-Driving EV and Tech | &nbsp;&nbsp; 115764569 | &nbsp;&nbsp;&nbsp; 131997973 |
| Virtual Work and Life Multisector | &nbsp;&nbsp; 1295433 | &nbsp;&nbsp;&nbsp; 1351499 |

---

For the year ended July 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| Cybersecurity and Tech | &nbsp;&nbsp; $155067909 | &nbsp;&nbsp;&nbsp; $38773999 |
| Energy Storage & Materials | &nbsp;&nbsp; 6245551 | &nbsp;&nbsp;&nbsp; 919335 |
| Exponential Technologies | &nbsp;&nbsp; 19560889 | &nbsp;&nbsp;&nbsp; 104803451 |
| Genomics Immunology and Healthcare | &nbsp;&nbsp; 12209632 | &nbsp;&nbsp;&nbsp; 20457237 |
| Neuroscience and Healthcare | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1085774 |
| Robotics and Artificial Intelligence Multisector | &nbsp;&nbsp; 129685341 | &nbsp;&nbsp;&nbsp; 23121571 |
| Self-Driving EV and Tech | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 113028175 |

---

***8. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of July 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2024, permanent differences attributable to nondeductible expenses, net investment loss, distributions paid in excess of taxable income and realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| Cybersecurity and Tech | &nbsp;&nbsp; $10896258 | &nbsp;&nbsp;&nbsp; $(10896258) |
| Energy Storage & Materials | &nbsp;&nbsp; 67850 | &nbsp;&nbsp;&nbsp; (67850) |
| Exponential Technologies | &nbsp;&nbsp; 25659691 | &nbsp;&nbsp;&nbsp; (25659691) |
| Future Cloud 5G and Tech | (20) | &nbsp;&nbsp;&nbsp; 20 |
| Genomics Immunology and Healthcare | &nbsp;&nbsp; 1143383 | &nbsp;&nbsp;&nbsp; (1143383) |
| Neuroscience and Healthcare | &nbsp;&nbsp; 30747 | &nbsp;&nbsp;&nbsp; (30747) |
| Robotics and Artificial Intelligence Multisector | &nbsp;&nbsp; 7176638 | &nbsp;&nbsp;&nbsp; (7176638) |
| Self-Driving EV and Tech | &nbsp;&nbsp; (9353049) | &nbsp;&nbsp;&nbsp; 9353049 |
| Virtual Work and Life Multisector | &nbsp;&nbsp; (2134) | &nbsp;&nbsp;&nbsp; 2134 |

---

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Period Ended* <br>*07/31/23*<br>|
| Breakthrough Environmental Solutions |  |  |
| Ordinary income | &nbsp;&nbsp; $154028 | &nbsp;&nbsp;&nbsp; $16550 |
| Long-term capital gains | &nbsp;&nbsp; 577 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $154605 | &nbsp;&nbsp;&nbsp; $16550 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*07/31/23*<br>|
| Cybersecurity and Tech |  |  |
| Ordinary income | &nbsp;&nbsp; $763133 | &nbsp;&nbsp;&nbsp; $566608 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| *iShares ETF* | *Period Ended* <br>*07/31/24*<br>|
| Energy Storage & Materials |  |
| Ordinary income | &nbsp;&nbsp; $65577 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*07/31/23*<br>|
| Exponential Technologies |  |  |
| Ordinary income | &nbsp;&nbsp; $15365276 | &nbsp;&nbsp;&nbsp; $17634859 |
| Future Cloud 5G and Tech |  |  |
| Ordinary income | &nbsp;&nbsp; $59322 | &nbsp;&nbsp;&nbsp; $50307 |
| Genomics Immunology and Healthcare |  |  |
| Ordinary income | &nbsp;&nbsp; $1625094 | &nbsp;&nbsp;&nbsp; $435229 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Period Ended* <br>*07/31/23*<br>|
| Neuroscience and Healthcare |  |  |
| Ordinary income | &nbsp;&nbsp; $945 | &nbsp;&nbsp;&nbsp; $— |
| Return of capital | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1648 |
|  | &nbsp;&nbsp; $945 | &nbsp;&nbsp;&nbsp; $1648 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*07/31/23*<br>|
| Robotics and Artificial Intelligence Multisector |  |  |
| Ordinary income | &nbsp;&nbsp; $4879653 | &nbsp;&nbsp;&nbsp; $2261595 |
| Self-Driving EV and Tech |  |  |
| Ordinary income | &nbsp;&nbsp; $6348356 | &nbsp;&nbsp;&nbsp; $8577251 |
| Virtual Work and Life Multisector |  |  |
| Ordinary income | &nbsp;&nbsp; $52633 | &nbsp;&nbsp;&nbsp; $9849 |

---

As of July 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| &nbsp;&nbsp; *Qualified* <br>*Late-Year* <br>*Capital Losses*<sup>(c)</sup> <br>| *Total* |
| Breakthrough Environmental Solutions | &nbsp;&nbsp; $7676 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $(566445) | &nbsp;&nbsp;&nbsp; $(119177) | &nbsp;&nbsp;&nbsp; $(677946) |
| Cybersecurity and Tech | &nbsp;&nbsp; 1819396 | &nbsp;&nbsp;&nbsp; (25550192) | &nbsp;&nbsp;&nbsp; 98757640 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 75026844 |
| Energy Storage & Materials | &nbsp;&nbsp; 16824 | &nbsp;&nbsp;&nbsp; (134257) | &nbsp;&nbsp;&nbsp; (352333) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (469766) |
| Exponential Technologies | &nbsp;&nbsp; 5983345 | &nbsp;&nbsp;&nbsp; (126478542) | &nbsp;&nbsp;&nbsp; 694593828 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 574098631 |
| Future Cloud 5G and Tech | &nbsp;&nbsp; 10525 | &nbsp;&nbsp;&nbsp; (558485) | &nbsp;&nbsp;&nbsp; 917488 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 369528 |
| Genomics Immunology and Healthcare | &nbsp;&nbsp; 462536 | &nbsp;&nbsp;&nbsp; (147034604) | &nbsp;&nbsp;&nbsp; 1683723 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (144888345) |
| Neuroscience and Healthcare | &nbsp;&nbsp; 15171 | &nbsp;&nbsp;&nbsp; (255560) | &nbsp;&nbsp;&nbsp; 164552 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (75837) |
| Robotics and Artificial Intelligence Multisector | &nbsp;&nbsp; 1206939 | &nbsp;&nbsp;&nbsp; (77661199) | &nbsp;&nbsp;&nbsp; 25789757 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (50664503) |
| Self-Driving EV and Tech | &nbsp;&nbsp; 1883020 | &nbsp;&nbsp;&nbsp; (127964931) | &nbsp;&nbsp;&nbsp; (63495709) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (189577620) |
| Virtual Work and Life Multisector | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (2894232) | &nbsp;&nbsp;&nbsp; (730810) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (3625042) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain futures contracts and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies. 

<sup>(c)</sup> The Funds have elected to defer these qualified late-year losses and recognize such losses in the next taxable year.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

For the year ended July 31, 2024, the Funds listed below utilized the following amounts of their respective capital loss carryforwards:

---

| | |
|:---|:---|
| *iShares ETF* | *Utilized*  |
| Cybersecurity and Tech | &nbsp;&nbsp; $20727140 |
| Future Cloud 5G and Tech | &nbsp;&nbsp; 54763 |

---

A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as "passive foreign investment companies." Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.

As of July 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Breakthrough Environmental Solutions | &nbsp;&nbsp; $3895535 | &nbsp;&nbsp;&nbsp; $301725 | &nbsp;&nbsp;&nbsp; $(868315) | &nbsp;&nbsp;&nbsp; $(566590) |
| Cybersecurity and Tech | &nbsp;&nbsp; 862107775 | &nbsp;&nbsp;&nbsp; 152530189 | &nbsp;&nbsp;&nbsp; (53778641) | &nbsp;&nbsp;&nbsp; 98751548 |
| Energy Storage & Materials | &nbsp;&nbsp; 7053244 | &nbsp;&nbsp;&nbsp; 317497 | &nbsp;&nbsp;&nbsp; (669643) | &nbsp;&nbsp;&nbsp; (352146) |
| Exponential Technologies | &nbsp;&nbsp; 2832577808 | &nbsp;&nbsp;&nbsp; 885712966 | &nbsp;&nbsp;&nbsp; (189824653) | &nbsp;&nbsp;&nbsp; 695888313 |
| Future Cloud 5G and Tech | &nbsp;&nbsp; 6564680 | &nbsp;&nbsp;&nbsp; 1573362 | &nbsp;&nbsp;&nbsp; (655822) | &nbsp;&nbsp;&nbsp; 917540 |
| Genomics Immunology and Healthcare | &nbsp;&nbsp; 151453087 | &nbsp;&nbsp;&nbsp; 21966920 | &nbsp;&nbsp;&nbsp; (20289052) | &nbsp;&nbsp;&nbsp; 1677868 |
| Neuroscience and Healthcare | &nbsp;&nbsp; 4149768 | &nbsp;&nbsp;&nbsp; 665049 | &nbsp;&nbsp;&nbsp; (500497) | &nbsp;&nbsp;&nbsp; 164552 |
| Robotics and Artificial Intelligence Multisector | &nbsp;&nbsp; 665871528 | &nbsp;&nbsp;&nbsp; 99487335 | &nbsp;&nbsp;&nbsp; (73103061) | &nbsp;&nbsp;&nbsp; 26384274 |
| Self-Driving EV and Tech | &nbsp;&nbsp; 302874380 | &nbsp;&nbsp;&nbsp; 12859307 | &nbsp;&nbsp;&nbsp; (76371923) | &nbsp;&nbsp;&nbsp; (63512616) |
| Virtual Work and Life Multisector | &nbsp;&nbsp; 3797177 | &nbsp;&nbsp;&nbsp; 439293 | &nbsp;&nbsp;&nbsp; (1162857) | &nbsp;&nbsp;&nbsp; (723564) |

---

***9. LINE OF CREDIT***

The iShares Breakthrough Environmental Solutions ETF, iShares Cybersecurity and Tech ETF, iShares Exponential Technologies ETF, iShares Future Cloud 5G and Tech ETF, iShares Genomics Immunology and Healthcare ETF, iShares Robotics and Artificial Intelligence Multisector ETF, iShares Self-Driving EV and Tech ETF and iShares Virtual Work and Life Multisector ETF, along with certain other iShares funds ("Participating Funds"), are parties to a $800 million credit agreement ("Syndicated Credit Agreement") with a group of lenders, which expires on October 16, 2024. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) Daily Simple Secured Overnight Financing Rate ("SOFR") plus 0.10% and 1.00% per annum or (b) the U.S. Federal Funds rate plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund's relative exposure to certain target markets or a Participating Fund's maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

During the year ended July 31, 2024, the iShares Breakthrough Environmental Solutions ETF, iShares Cybersecurity and Tech ETF, iShares Future Cloud 5G and Tech ETF, iShares Genomics Immunology and Healthcare ETF, iShares Robotics and Artificial Intelligence Multisector ETF and iShares Self-Driving EV and Tech ETF did not borrow under the Syndicated Credit Agreement.

For the year ended July 31, 2024, the maximum amount borrowed, the average daily borrowing and the weighted average interest rate, if any, under the Syndicated Credit Agreement were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Maximum* <br>*Amount* <br>*Borrowed*<br>| &nbsp;&nbsp; *Average* <br>*Borrowing*<br>| &nbsp;&nbsp; *Weighted* <br>*Average* <br>*Interest Rates* <br>|
| Exponential Technologies | &nbsp;&nbsp; $35500000 | &nbsp;&nbsp;&nbsp; $484973 | &nbsp;&nbsp;&nbsp;&nbsp;6.42% |
| Virtual Work and Life Multisector | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 1366 | &nbsp;&nbsp;&nbsp;&nbsp;6.42 |

---

***10. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to discretionary liquidity fees under certain circumstances.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore each Fund's results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by each Fund, and each Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker's customers, potentially resulting in losses to the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the the Funds invest.

Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds' investments.

Certain Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the fund's portfolio. Investment percentages in specific sectors are presented in the Schedule of Investments.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***11. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Period Ended <br>07/31/23<sup>(a)</sup>  | Period Ended <br>07/31/23<sup>(a)</sup>  |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Breakthrough Environmental Solutions |  |  |  |  |
| Shares sold | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp; $4025360 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Year Ended <br>07/31/23 | Year Ended <br>07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Cybersecurity and Tech |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp;&nbsp; $167792535 | &nbsp;&nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; $89024383 |
| Shares redeemed | &nbsp;&nbsp; (1000000)<br>| &nbsp;&nbsp;&nbsp; (41554712)<br>| &nbsp;&nbsp;&nbsp; (1550000)<br>| &nbsp;&nbsp;&nbsp; (53950714)<br>|
|  | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp; $126237823 | &nbsp;&nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp; $35073669 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | Period Ended <br>07/31/24<sup>(b)</sup>  | Period Ended <br>07/31/24<sup>(b)</sup>  |
| *iShares ETF* | *Shares* | *Amount* |
| Energy Storage & Materials |  |  |
| Shares sold | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp; $9003006 |
| Shares redeemed | &nbsp;&nbsp; (80000)<br>| &nbsp;&nbsp;&nbsp; (1882258)<br>|
|  | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp; $7120748 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Year Ended <br>07/31/23 | Year Ended <br>07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Exponential Technologies |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; $27918395 | &nbsp;&nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp; $85761417 |
| Shares redeemed | &nbsp;&nbsp; (2100000)<br>| &nbsp;&nbsp;&nbsp; (116943588)<br>| &nbsp;&nbsp;&nbsp; (3200000)<br>| &nbsp;&nbsp;&nbsp; (165945583)<br>|
|  | &nbsp;&nbsp; (1600000)<br>| &nbsp;&nbsp;&nbsp; $(89025193)<br>| &nbsp;&nbsp;&nbsp; (1450000)<br>| &nbsp;&nbsp;&nbsp; $(80184166)<br>|
| Future Cloud 5G and Tech |  |  |  |  |
| Shares redeemed | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; (80000)<br>| &nbsp;&nbsp;&nbsp; $(1935326)<br>|
| Genomics Immunology and Healthcare |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; $12613591 | &nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp; $13403128 |
| Shares redeemed | &nbsp;&nbsp; (950000)<br>| &nbsp;&nbsp;&nbsp; (21140816)<br>| &nbsp;&nbsp;&nbsp; (700000)<br>| &nbsp;&nbsp;&nbsp; (18428112)<br>|
|  | &nbsp;&nbsp; (400000)<br>| &nbsp;&nbsp;&nbsp; $(8527225)<br>| &nbsp;&nbsp;&nbsp; (250000)<br>| &nbsp;&nbsp;&nbsp; $(5024984)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Period Ended <br>07/31/23<sup>(c)</sup>  | Period Ended <br>07/31/23<sup>(c)</sup>  |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Neuroscience and Healthcare |  |  |  |  |
| Shares sold | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; $5050047 |
| Shares redeemed | &nbsp;&nbsp; (50000)<br>| &nbsp;&nbsp;&nbsp; (1143238)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; (50000)<br>| &nbsp;&nbsp;&nbsp; $(1143238)<br>| &nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; $5050047 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Year Ended <br>07/31/23 | Year Ended <br>07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Robotics and Artificial Intelligence Multisector |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; $165766335 | &nbsp;&nbsp;&nbsp; 6200000 | &nbsp;&nbsp;&nbsp; $197528251 |
| Shares redeemed | &nbsp;&nbsp; (800000)<br>| &nbsp;&nbsp;&nbsp; (26863979)<br>| &nbsp;&nbsp;&nbsp; (600000)<br>| &nbsp;&nbsp;&nbsp; (15267741)<br>|
|  | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp;&nbsp; $138902356 | &nbsp;&nbsp;&nbsp; 5600000 | &nbsp;&nbsp;&nbsp; $182260510 |
| Self-Driving EV and Tech |  |  |  |  |
| Shares sold | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; $15998969 |
| Shares redeemed | &nbsp;&nbsp; (4100000)<br>| &nbsp;&nbsp;&nbsp; (130249809)<br>| &nbsp;&nbsp;&nbsp; (1000000)<br>| &nbsp;&nbsp;&nbsp; (36838450)<br>|
|  | &nbsp;&nbsp; (4100000)<br>| &nbsp;&nbsp;&nbsp; $(130249809)<br>| &nbsp;&nbsp;&nbsp; (600000)<br>| &nbsp;&nbsp;&nbsp; $(20839481)<br>|
| Virtual Work and Life Multisector |  |  |  |  |
| Shares redeemed | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; (100000)<br>| &nbsp;&nbsp;&nbsp; $(1240169)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund commenced operations on March 28, 2023. <br> <sup>(b)</sup> The Fund commenced operations on March 19, 2024. <br> <sup>(c)</sup> The Fund commenced operations on August 24, 2022.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust's administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for Funds using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Fund's custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***12. SUBSEQUENT EVENTS***

Management's evaluation of the impact of all subsequent events on the Funds' financial statements was completed through the date the financial statements were available to be issued and the following items were noted:

On June 5, 2024, the Board of Trustees approved a proposal to change the fund name of iShares Robotics and Artificial Intelligence Multisector ETF to iShares Future AI & Tech ETF, the ticker from IRBO to ARTY, the fiscal year end from July 31 to March 31, and the underlying index from NYSE FactSet Global Robotics and Artificial Intelligence Index to Morningstar Global Artificial Intelligence Select Index and to make related changes to the Fund's investment objective, investment strategy, and investment risks. The Fund's revised investment objective is to seek to track the investment results of an index composed of U.S. and non U.S. companies that provide products and services that are expected to contribute to artificial intelligence ("AI") technologies in areas including generative AI, AI data and infrastructure, AI software, and AI services. These changes became effective on August 12, 2024.

On June 5, 2024, the Board approved the liquidation of iShares Virtual Work and Life Multisector ETF. After the close of business on August 12, 2024, the Fund no longer accepts creation orders. Trading in the Fund halted prior to market open on August 13, 2024. Proceeds of the liquidation were sent to shareholders on August 15, 2024.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the ten funds listed in the table below

***Opinions on the Financial Statements*** 

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (ten of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of July 31, 2024, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of July 31, 2024, the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| iShares Breakthrough Environmental Solutions ETF<sup>(1)</sup> <br>|
| iShares Cybersecurity and Tech ETF<sup>(2)</sup> <br>|
| iShares Energy Storage & Materials ETF<sup>(3)</sup> <br>|
| iShares Exponential Technologies ETF<sup>(2)</sup> <br>|
| iShares Future Cloud 5G and Tech ETF<sup>(2)</sup> <br>|
| iShares Genomics Immunology and Healthcare ETF<sup>(2)</sup> <br>|
| iShares Neuroscience and Healthcare ETF<sup>(4)</sup> <br>|
| iShares Future AI & Tech ETF (formerly known as iShares Robotics and Artificial Intelligence Multisector ETF)<sup>(2)</sup> <br>|
| iShares Self-Driving EV and Tech ETF<sup>(2)</sup> <br>|
| iShares Virtual Work and Life Multisector ETF<sup>(2)</sup> <br>|

---

<sup>(1)</sup> Statement of operations for the year ended July 31, 2024 and statement of changes in net assets for the year ended July 31, 2024 and the period March 28, 2023 (commencement of operations) through July 31, 2023

<sup>(2)</sup> Statement of operations for the year ended July 31, 2024 and statement of changes in net assets for the years ended July 31, 2024 and 2023

<sup>(3)</sup> Statement of operations and statement of changes in net assets for the period March 19, 2024 (commencement of operations) through July 31, 2024

<sup>(4)</sup> Statement of operations for the year ended July 31, 2024 and statement of changes in net assets for the year ended July 31, 2024 and the period August 24, 2022 (commencement of operations) through July 31, 2023

***Basis for Opinions*** 

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2024, by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

September 23, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements

------

Important Tax Information (unaudited)

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Dividend* <br>*Income*<br>|
| Breakthrough Environmental Solutions | &nbsp;&nbsp; $27814 |
| Cybersecurity and Tech | &nbsp;&nbsp; 5130371 |
| Energy Storage & Materials | &nbsp;&nbsp; 87722 |
| Exponential Technologies | &nbsp;&nbsp; 29765065 |
| Future Cloud 5G and Tech | &nbsp;&nbsp; 59494 |
| Genomics Immunology and Healthcare | &nbsp;&nbsp; 943435 |
| Neuroscience and Healthcare | &nbsp;&nbsp; 1979 |
| Robotics and Artificial Intelligence Multisector | &nbsp;&nbsp; 3336343 |
| Self-Driving EV and Tech | &nbsp;&nbsp; 4010736 |

---

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified business income for individuals for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Business* <br>*Income*<br>|
| Exponential Technologies | &nbsp;&nbsp; $356601 |
| Future Cloud 5G and Tech | &nbsp;&nbsp; 6549 |

---

The Fund hereby designates the following amount, or maximum amount allowable by law, as capital gain dividends, subject to a long-term capital gains tax rate as noted below, for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *20% Rate Long-Term* <br>*Capital Gain Dividends*<br>|
| Breakthrough Environmental Solutions | &nbsp;&nbsp; $577 |

---

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended July 31, 2024:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Foreign* <br>*Taxes Paid*<br>|
| Breakthrough Environmental Solutions | &nbsp;&nbsp; $30374 | &nbsp;&nbsp;&nbsp;&nbsp; $2215 |
| Energy Storage & Materials | &nbsp;&nbsp; 102209 | &nbsp;&nbsp;&nbsp;&nbsp; 13577 |
| Self-Driving EV and Tech | &nbsp;&nbsp; 3930610 | &nbsp;&nbsp;&nbsp;&nbsp; 477278 |

---

The following percentages, or maximum percentages allowable by law, of ordinary income distributions paid during the fiscal year ended July 31, 2024 qualified for the dividends-received deduction for corporate shareholders:

---

| | |
|:---|:---|
| *iShares ETF* | *Dividends-Received* <br>*Deduction*<br>|
| Breakthrough Environmental Solutions | 4.66<br> %<br>|
| Cybersecurity and Tech | 89.56<br> %<br>|
| Energy Storage & Materials | 8.73<br> %<br>|
| Exponential Technologies | 54.01<br> %<br>|
| Future Cloud 5G and Tech | 44.16<br> %<br>|
| Genomics Immunology and Healthcare | 15.48<br> %<br>|
| Robotics and Artificial Intelligence Multisector | 23.37<br> %<br>|
| Self-Driving EV and Tech | 4.51<br> %<br>|

---

The Fund hereby designates the following amount, or maximum amount allowable by law, as qualified short-term capital gains eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Short-Term* <br>*Capital Gains*<br>|
| Breakthrough Environmental Solutions | &nbsp;&nbsp; $130017 |

---

Important Tax Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of each Fund's portfolio securities is available in each Fund Prospectus. Each Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at **iShares.com**.

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract

**iShares Breakthrough Environmental Solutions ETF, iShares Neuroscience and Healthcare ETF, iShares Genomics Immunology and Healthcare ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares Future Cloud 5G and Tech ETF, iShares Cybersecurity and Tech ETF, iShares Robotics and Artificial Intelligence Multisector ETF, iShares Self-Driving EV and Tech ETF, iShares Virtual Work and Life Multisector ETF**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares Energy Storage & Materials ETF(the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required to consider the approval of the proposed Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the terms of the proposed Advisory Agreement. At a meeting held on December 12-14, 2023, the Board, including the Independent Board Members, approved the selection of BFA as investment adviser and approved the proposed Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA. The Board also considered information previously provided by BFA, BlackRock Institutional Trust Company, N.A. ("BTC"), and BlackRock, Inc. ("BlackRock"), as applicable, at prior Board meetings. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses of the Fund; (ii) the nature, extent and quality of the services to be provided by BFA; (iii) the costs of services to be provided to the Fund and the availability of information related to profits to be realized by BFA and its affiliates; (iv) potential economies of scale; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, no one of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the Advisory Agreement are discussed below.

**Expenses of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances.

The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level of the Fund supported the Board's approval of the Advisory Agreement.

**Nature, Extent and Quality of Services to be Provided by BFA:** The Board reviewed the scope of services to be provided by BFA under the Advisory Agreement. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time and have made significant investments into the iShares business to support the iShares funds and their shareholders. The Board considered representations by BFA, BTC, and BlackRock that the scope and quality of services to be provided to the Fund would be similar to the scope and quality of services provided to other iShares funds. The Board also considered BFA's compliance program and its compliance record with respect to other iShares funds including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons who will be responsible for the day-to-day management of the Fund, as well as the resources that will be available to them in managing the Fund. The Board also considered detailed presentations regarding BFA's investment performance, investment and risk management processes and

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

strategies, which were provided throughout the year with respect to other iShares funds, and other matters related to BFA's portfolio compliance program and other compliance programs and services.

Based on review of this information, the Board concluded that the nature, extent and quality of services to be provided to the Fund under the Advisory Agreement supported the Board's approval of the Advisory Agreement.

**Costs of Services to be Provided to the Fund and Profits to be Realized by BFA and Affiliates:** The Board did not consider the profitability of the Fund to BFA based on the fees payable under the Advisory Agreement or revenue to be received by BFA or its affiliates in connection with services to be provided to the Fund since the proposed relationship had not yet commenced. The Board noted that it expects to receive profitability information from BFA periodically following the Fund's launch and will thus be in a position to evaluate whether any new or additional breakpoints or other adjustments in Fund fees would be appropriate.

**Economies of Scale:** The Board considered information that it had previously received regarding potential economies of scale, efficiencies and scale benefits shared with the iShares funds through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for any breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

This consideration of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the Advisory Agreement.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the "Other Accounts"). The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board further noted that BFA previously provided the Board with detailed information regarding how the Other Accounts (particularly institutional clients) generally differ from the iShares funds, including in terms of the different and generally more extensive services provided to the iShares funds, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement.

**Other Benefits to BFA and/or its Affiliates:** Except as noted below, the Board did not consider the "fallout" benefits or ancillary revenue to be received by BFA and/or its affiliates in connection with the services to be provided to the Fund by BFA since the proposed relationship had not yet commenced. However, the Board considered the potential payment of advisory fees and/or administration fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services and/or administration services. The Board further considered other direct benefits that might accrue to BFA, including the potential for reduction in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also noted the potential revenue to be received by BFA and/or its affiliates pursuant to an agreement that would permit a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board also considered the potential for revenue to BTC, the Fund's securities lending agent, and its affiliates in the event of any loaning of portfolio securities of the Fund. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that will be provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the Advisory Agreement.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services to be rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the Advisory Agreement.

**iShares Exponential Technologies ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue,

Board Review and Approval of Investment Advisory Contract

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Board Review and Approval of Investment Advisory Contract (continued)

including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund's investment advisory fee rate, and that the Board would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

2024 iShares Annual Financial Statements

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Glossary of Terms Used in this Report

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| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | American Depositary Receipt |
| NVS | Non-Voting Shares |
| S&P | Standard & Poor's |

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Glossary of Terms Used in this Report

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by ICE Data Indices, LLC, Morningstar Inc. or STOXX Ltd., nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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July 31, 2024

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2024 Annual Financial Statements <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| |
|:---|
| **iShares Trust** |
| • iShares Global Equity Factor ETF \| GLOF \| NYSE Arca |
| • iShares International Equity Factor ETF \| INTF \| NYSE Arca |
| • iShares International Small-Cap Equity Factor ETF \| ISCF \| NYSE Arca |
| • iShares MSCI EAFE Min Vol Factor ETF \| EFAV \| Cboe BZX |

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**Table of Contents**

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| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 34 |
| [Statements of Operations](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 35 |
| [Statements of Changes in Net Assets](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 36 |
| [Financial Highlights](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 38 |
| [Notes to Financial Statements](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 42 |
| [Report of Independent Registered Public Accounting Firm](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 52 |
| [Important Tax Information](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 53 |
| [Additional Information](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_SAI-Footer-iSharesReport-330_1)  | &nbsp;&nbsp; 54 |
| [Board Review and Approval of Investment Advisory Contract](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_15Cheader-Footer-iSharesReport_1)  | &nbsp;&nbsp; 55 |
| [Glossary of Terms Used in this Report](#xx_52de88bd-2142-45b2-a5a3-3df2f87fdcc1_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 59 |

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Schedule of Investments

July 31, 2024

**iShares® Global Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 1.9%** | **Australia — 1.9%** | **Australia — 1.9%** |
| AGL Energy Ltd. | &nbsp;&nbsp; 7752 | $52696 |
| ALS Ltd. | &nbsp;&nbsp; 5916 | 59895 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 49677 | 121126 |
| Bendigo & Adelaide Bank Ltd. | &nbsp;&nbsp; 5671 | 46426 |
| BHP Group Ltd. | &nbsp;&nbsp; 9079 | 252169 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 1567 | 22755 |
| Brambles Ltd. | &nbsp;&nbsp; 16524 | 168457 |
| Fortescue Ltd. | &nbsp;&nbsp; 18244 | 227007 |
| Goodman Group | &nbsp;&nbsp; 507 | 11705 |
| JB Hi-Fi Ltd. | &nbsp;&nbsp; 3130 | 142911 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 6273 | 20441 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 899 | 123725 |
| Mirvac Group | &nbsp;&nbsp; 8041 | 11322 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 3263 | 250736 |
| South32 Ltd. | &nbsp;&nbsp; 52996 | 106294 |
| Stockland | &nbsp;&nbsp; 47884 | 144629 |
| Telstra Group Ltd. | &nbsp;&nbsp; 10149 | 26228 |
| Whitehaven Coal Ltd. | &nbsp;&nbsp; 24174 | 122041 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 3981 | 89824 |
| Yancoal Australia Ltd., NVS | &nbsp;&nbsp; 14026 | 65003 |
|  |  | 2065390 |
| **Austria — 0.3%** | **Austria — 0.3%** | **Austria — 0.3%** |
| OMV AG | &nbsp;&nbsp; 3971 | 166147 |
| Raiffeisen Bank International AG | &nbsp;&nbsp; 3978 | 77552 |
| Verbund AG | &nbsp;&nbsp; 351 | 28184 |
| Wienerberger AG | &nbsp;&nbsp; 2648 | 93884 |
|  |  | 365767 |
| **Belgium — 0.3%** | **Belgium — 0.3%** | **Belgium — 0.3%** |
| Ageas SA/NV | &nbsp;&nbsp; 4284 | 204524 |
| Shurgard Self Storage Ltd. | &nbsp;&nbsp; 561 | 21933 |
| Syensqo SA | &nbsp;&nbsp; 1377 | 121765 |
|  |  | 348222 |
| **Brazil — 0.5%** | **Brazil — 0.5%** | **Brazil — 0.5%** |
| CPFL Energia SA | &nbsp;&nbsp; 6325 | 36321 |
| CSN Mineracao SA | &nbsp;&nbsp; 19789 | 17913 |
| JBS SA | &nbsp;&nbsp; 19074 | 113712 |
| NU Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 5814 | 70524 |
| Petroleo Brasileiro SA | &nbsp;&nbsp; 16951 | 121675 |
| Suzano SA | &nbsp;&nbsp; 9537 | 90815 |
| TIM SA/Brazil | &nbsp;&nbsp; 22697 | 70184 |
|  |  | 521144 |
| **Canada — 2.4%** | **Canada — 2.4%** | **Canada — 2.4%** |
| ARC Resources Ltd. | &nbsp;&nbsp; 8976 | 155316 |
| Canadian Tire Corp. Ltd., Class A, NVS | &nbsp;&nbsp; 1355 | 139146 |
| Canadian Utilities Ltd., Class A, NVS | &nbsp;&nbsp; 1173 | 27468 |
| CGI Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1785 | 203536 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 24 | 75726 |
| Dollarama Inc. | &nbsp;&nbsp; 765 | 71715 |
| Element Fleet Management Corp. | &nbsp;&nbsp; 3519 | 67314 |
| George Weston Ltd. | &nbsp;&nbsp; 668 | 103453 |
| Hydro One Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 8262 | 258934 |
| Imperial Oil Ltd. | &nbsp;&nbsp; 816 | 58458 |
| Loblaw Companies Ltd. | &nbsp;&nbsp; 4131 | 509400 |
| Manulife Financial Corp. | &nbsp;&nbsp; 9976 | 265757 |
| Nutrien Ltd. | &nbsp;&nbsp; 2961 | 151862 |
| Royal Bank of Canada | &nbsp;&nbsp; 1581 | 176668 |
| Thomson Reuters Corp. | &nbsp;&nbsp; 2372 | 384409 |
|  |  | 2649162 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Chile — 0.1%** | **Chile — 0.1%** | **Chile — 0.1%** |
| Cencosud SA | &nbsp;&nbsp; 8823 | $16309 |
| Colbun SA | &nbsp;&nbsp; 168045 | 21856 |
| Empresas CMPC SA | &nbsp;&nbsp; 28764 | 49962 |
| Enel Chile SA | &nbsp;&nbsp; 218201 | 12463 |
| Quinenco SA | &nbsp;&nbsp; 4998 | 17416 |
|  |  | 118006 |
| **China — 2.5%** | **China — 2.5%** | **China — 2.5%** |
| Agricultural Bank of China Ltd., Class A | &nbsp;&nbsp; 188700 | 119833 |
| Akeso Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 14000 | 75820 |
| Bank of Beijing Co. Ltd., Class A | &nbsp;&nbsp; 20400 | 15050 |
| Bank of China Ltd., Class A | &nbsp;&nbsp; 127500 | 82249 |
| Bank of China Ltd., Class H | &nbsp;&nbsp; 51000 | 22710 |
| Bank of Communications Co. Ltd., Class H | &nbsp;&nbsp; 51000 | 37056 |
| Bank of Shanghai Co. Ltd., Class A | &nbsp;&nbsp; 15900 | 16043 |
| China CITIC Bank Corp. Ltd., Class A | &nbsp;&nbsp; 16100 | 13970 |
| China Coal Energy Co. Ltd., Class H | &nbsp;&nbsp; 51000 | 51669 |
| China Construction Bank Corp., Class A | &nbsp;&nbsp; 10600 | 10921 |
| China Construction Bank Corp., Class H | &nbsp;&nbsp; 357000 | 249288 |
| China Nonferrous Mining Corp Ltd. | &nbsp;&nbsp; 51000 | 36322 |
| China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp; 306000 | 196110 |
| China Renewable Energy Investment Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 659 |  |
| China Shenhua Energy Co. Ltd., Class A | &nbsp;&nbsp; 10200 | 56129 |
| China Zheshang Bank Co. Ltd., Class A | &nbsp;&nbsp; 30600 | 11949 |
| CNPC Capital Co. Ltd., NVS | &nbsp;&nbsp; 10200 | 7882 |
| COSCO Shipping Holdings Co. Ltd., Class A | &nbsp;&nbsp; 10200 | 18588 |
| Giant Biogene Holding Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 10200 | 52874 |
| Greentown China Holdings Ltd. | &nbsp;&nbsp; 25500 | 19298 |
| Guosen Securities Co. Ltd., Class A | &nbsp;&nbsp; 15300 | 18737 |
| Industrial & Commercial Bank of China Ltd., Class A | &nbsp;&nbsp; 198900 | 161079 |
| Kingboard Holdings Ltd. | &nbsp;&nbsp; 21000 | 42832 |
| Kingboard Laminates Holdings Ltd. | &nbsp;&nbsp; 25500 | 22930 |
| Kunlun Energy Co. Ltd. | &nbsp;&nbsp; 102000 | 98878 |
| Lenovo Group Ltd. | &nbsp;&nbsp; 36000 | 46628 |
| Li Auto Inc.<sup>(a)</sup> | &nbsp;&nbsp; 15300 | 149668 |
| Meituan, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 5100 | 70618 |
| Midea Group Co. Ltd., Class A | &nbsp;&nbsp; 10600 | 93522 |
| Nongfu Spring Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 51000 | 198117 |
| Orient Overseas International Ltd. | &nbsp;&nbsp; 2000 | 28166 |
| PetroChina Co. Ltd., Class A | &nbsp;&nbsp; 56100 | 69552 |
| PetroChina Co. Ltd., Class H | &nbsp;&nbsp; 204000 | 177148 |
| Postal Savings Bank of China Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 153000 | 81814 |
| Shaanxi Coal Industry Co. Ltd., Class A | &nbsp;&nbsp; 15300 | 49506 |
| Shanxi Lu'an Environmental Energy Development Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 5100 | 10988 |
| Sinotrans Ltd., Class H | &nbsp;&nbsp; 51000 | 23676 |
| Sinotruk Hong Kong Ltd. | &nbsp;&nbsp; 25500 | 67072 |
| Want Want China Holdings Ltd. | &nbsp;&nbsp; 102000 | 61230 |
| Yadea Group Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 44000 | 59298 |
| Yankuang Energy Group Co. Ltd., Class H | &nbsp;&nbsp; 85800 | 111996 |
| Yutong Bus Co. Ltd., Class A | &nbsp;&nbsp; 5300 | 16440 |
| Zx Inc.<sup>(a)(d)</sup> | &nbsp;&nbsp; 10200 | 14700 |
|  |  | 2768356 |
| **Colombia — 0.0%** | **Colombia — 0.0%** | **Colombia — 0.0%** |
| Bancolombia SA | &nbsp;&nbsp; 2448 | 22069 |
| Interconexion Electrica SA ESP | &nbsp;&nbsp; 5406 | 23353 |
|  |  | 45422 |
| **Czech Republic — 0.1%** | **Czech Republic — 0.1%** | **Czech Republic — 0.1%** |
| CEZ AS | &nbsp;&nbsp; 1696 | 65311 |
| **Denmark — 1.2%** | **Denmark — 1.2%** | **Denmark — 1.2%** |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 561 | 67744 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Global Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 7344 | $973028 |
| Pandora A/S | &nbsp;&nbsp; 1785 | 279805 |
|  |  | 1320577 |
| **Egypt — 0.0%** | **Egypt — 0.0%** | **Egypt — 0.0%** |
| Talaat Moustafa Group | &nbsp;&nbsp; 33360 | 38643 |
| **Finland — 0.3%** | **Finland — 0.3%** | **Finland — 0.3%** |
| Kesko OYJ, Class B | &nbsp;&nbsp; 3060 | 55351 |
| Nordea Bank Abp | &nbsp;&nbsp; 20728 | 242554 |
| Orion OYJ, Class B | &nbsp;&nbsp; 714 | 32818 |
|  |  | 330723 |
| **France — 2.2%** | **France — 2.2%** | **France — 2.2%** |
| BNP Paribas SA | &nbsp;&nbsp; 816 | 55907 |
| Bouygues SA | &nbsp;&nbsp; 2142 | 73955 |
| Carrefour SA | &nbsp;&nbsp; 7497 | 111834 |
| Christian Dior SE, NVS | &nbsp;&nbsp; 51 | 33533 |
| Credit Agricole SA | &nbsp;&nbsp; 33201 | 503841 |
| Eiffage SA | &nbsp;&nbsp; 1581 | 157344 |
| Engie SA | &nbsp;&nbsp; 4998 | 78569 |
| L'Oreal SA | &nbsp;&nbsp; 102 | 44110 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 306 | 215841 |
| Orange SA | &nbsp;&nbsp; 3774 | 41881 |
| Publicis Groupe SA | &nbsp;&nbsp; 4488 | 468531 |
| Sanofi SA | &nbsp;&nbsp; 153 | 15773 |
| Schneider Electric SE | &nbsp;&nbsp; 51 | 12293 |
| Societe Generale SA | &nbsp;&nbsp; 3111 | 80690 |
| TotalEnergies SE | &nbsp;&nbsp; 3707 | 250097 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 2907 | 217389 |
|  |  | 2361588 |
| **Germany — 1.3%** | **Germany — 1.3%** | **Germany — 1.3%** |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 3723 | 345305 |
| BioNTech SE, ADR<sup>(a)(d)</sup> | &nbsp;&nbsp; 1419 | 122318 |
| Commerzbank AG | &nbsp;&nbsp; 12087 | 197048 |
| Deutsche Boerse AG | &nbsp;&nbsp; 204 | 41773 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 1377 | 61422 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 2806 | 73398 |
| E.ON SE | &nbsp;&nbsp; 17697 | 248167 |
| Heidelberg Materials AG | &nbsp;&nbsp; 459 | 47818 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 3570 | 235993 |
| Volkswagen AG | &nbsp;&nbsp; 510 | 60174 |
|  |  | 1433416 |
| **Greece — 0.3%** | **Greece — 0.3%** | **Greece — 0.3%** |
| FF Group<sup>(c)</sup> | &nbsp;&nbsp; 165 |  |
| Hellenic Telecommunications Organization SA | &nbsp;&nbsp; 5540 | 91021 |
| Motor Oil Hellas Corinth Refineries SA | &nbsp;&nbsp; 1431 | 36476 |
| National Bank of Greece SA | &nbsp;&nbsp; 3501 | 30728 |
| OPAP SA | &nbsp;&nbsp; 4463 | 77813 |
| Piraeus Financial Holdings SA | &nbsp;&nbsp; 9612 | 40610 |
|  |  | 276648 |
| **Hong Kong — 0.1%** | **Hong Kong — 0.1%** | **Hong Kong — 0.1%** |
| HK Electric Investments & HK Electric Investments Ltd., <br> Class SS<br>| &nbsp;&nbsp; 51000 | 34535 |
| Swire Properties Ltd. | &nbsp;&nbsp; 30600 | 48327 |
| WH Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 25500 | 16576 |
|  |  | 99438 |
| **Hungary — 0.1%** | **Hungary — 0.1%** | **Hungary — 0.1%** |
| MOL Hungarian Oil & Gas PLC | &nbsp;&nbsp; 8276 | 64507 |
| **India — 1.7%** | **India — 1.7%** | **India — 1.7%** |
| ABB India Ltd. | &nbsp;&nbsp; 1071 | 101216 |
| AIA Engineering Ltd. | &nbsp;&nbsp; 785 | 43367 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Bharat Electronics Ltd. | &nbsp;&nbsp; 7599 | $28754 |
| Coal India Ltd. | &nbsp;&nbsp; 24480 | 153120 |
| CRISIL Ltd. | &nbsp;&nbsp; 561 | 29400 |
| Hindustan Aeronautics Ltd., NVS | &nbsp;&nbsp; 4080 | 240443 |
| Indian Oil Corp. Ltd. | &nbsp;&nbsp; 11934 | 26006 |
| Mangalore Refinery & Petrochemicals Ltd. | &nbsp;&nbsp; 5671 | 14977 |
| Mazagon Dock Shipbuilders Ltd. | &nbsp;&nbsp; 265 | 16627 |
| NLC India Ltd. | &nbsp;&nbsp; 11024 | 38058 |
| Oil & Natural Gas Corp. Ltd. | &nbsp;&nbsp; 13209 | 52770 |
| Oil India Ltd. | &nbsp;&nbsp; 15762 | 108874 |
| Power Finance Corp. Ltd. | &nbsp;&nbsp; 40902 | 273026 |
| Power Grid Corp. of India Ltd. | &nbsp;&nbsp; 41883 | 174451 |
| REC Ltd. | &nbsp;&nbsp; 35241 | 272226 |
| Tata Consultancy Services Ltd. | &nbsp;&nbsp; 3366 | 176751 |
| Tata Investment Corp. Ltd. | &nbsp;&nbsp; 371 | 28121 |
| Wipro Ltd. | &nbsp;&nbsp; 5763 | 35963 |
|  |  | 1814150 |
| **Indonesia — 0.1%** | **Indonesia — 0.1%** | **Indonesia — 0.1%** |
| Adaro Energy Indonesia Tbk PT | &nbsp;&nbsp; 428400 | 84837 |
| Sumber Alfaria Trijaya Tbk PT | &nbsp;&nbsp; 387600 | 67699 |
|  |  | 152536 |
| **Ireland — 0.2%** | **Ireland — 0.2%** | **Ireland — 0.2%** |
| AIB Group PLC | &nbsp;&nbsp; 46308 | 265627 |
| **Israel — 0.4%** | **Israel — 0.4%** | **Israel — 0.4%** |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 19448 | 167593 |
| Bezeq The Israeli Telecommunication Corp. Ltd. | &nbsp;&nbsp; 52836 | 59890 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 459 | 84204 |
| Israel Corp Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 102 | 21414 |
| Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 8262 | 42178 |
| Phoenix Holdings Ltd. (The)<sup>(d)</sup> | &nbsp;&nbsp; 5400 | 52178 |
|  |  | 427457 |
| **Italy — 0.8%** | **Italy — 0.8%** | **Italy — 0.8%** |
| Banco BPM SpA | &nbsp;&nbsp; 2142 | 14831 |
| Brunello Cucinelli SpA | &nbsp;&nbsp; 357 | 33346 |
| Enel SpA | &nbsp;&nbsp; 14342 | 102390 |
| Poste Italiane SpA<sup>(b)</sup> | &nbsp;&nbsp; 5916 | 80088 |
| Prysmian SpA | &nbsp;&nbsp; 918 | 63107 |
| Snam SpA | &nbsp;&nbsp; 33303 | 159143 |
| Stellantis NV | &nbsp;&nbsp; 13005 | 216716 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 10558 | 87919 |
| UniCredit SpA | &nbsp;&nbsp; 3774 | 155016 |
|  |  | 912556 |
| **Japan — 6.7%** | **Japan — 6.7%** | **Japan — 6.7%** |
| Asics Corp. | &nbsp;&nbsp; 20400 | 332935 |
| BayCurrent Consulting Inc. | &nbsp;&nbsp; 3100 | 95432 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 5100 | 108956 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 5100 | 64303 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 5100 | 207711 |
| Disco Corp. | &nbsp;&nbsp; 300 | 100319 |
| Ebara Corp. | &nbsp;&nbsp; 9800 | 140341 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 1500 | 84370 |
| Hitachi Ltd. | &nbsp;&nbsp; 5000 | 108033 |
| Horiba Ltd. | &nbsp;&nbsp; 1500 | 118718 |
| Hoya Corp. | &nbsp;&nbsp; 1700 | 213011 |
| Internet Initiative Japan Inc. | &nbsp;&nbsp; 5100 | 86249 |
| Isetan Mitsukoshi Holdings Ltd. | &nbsp;&nbsp; 5100 | 101466 |
| ITOCHU Corp. | &nbsp;&nbsp; 3700 | 189749 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 5100 | 53071 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 5100 | 104996 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 41 | 142209 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Global Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Kamigumi Co. Ltd. | &nbsp;&nbsp; 5100 | $116310 |
| KDX Realty Investment Corp. | &nbsp;&nbsp; 51 | 52580 |
| Mazda Motor Corp. | &nbsp;&nbsp; 5100 | 43990 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 15300 | 183387 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 20400 | 235627 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 15300 | 349760 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 5100 | 120230 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 3200 | 176827 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 44 | 169807 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 3600 | 178131 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 209100 | 222841 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 56100 | 178068 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 5100 | 142569 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 102 | 100067 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 5100 | 157446 |
| ORIX Corp. | &nbsp;&nbsp; 5100 | 123367 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 5100 | 115434 |
| Persol Holdings Co. Ltd. | &nbsp;&nbsp; 40800 | 69976 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 3000 | 172030 |
| Sankyo Co. Ltd. | &nbsp;&nbsp; 5100 | 56630 |
| Sanrio Co. Ltd. | &nbsp;&nbsp; 6600 | 140127 |
| Sanwa Holdings Corp. | &nbsp;&nbsp; 5100 | 109243 |
| SBI Holdings Inc. | &nbsp;&nbsp; 5100 | 132568 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 1800 | 152531 |
| Socionext Inc. | &nbsp;&nbsp; 5100 | 102988 |
| Sohgo Security Services Co. Ltd. | &nbsp;&nbsp; 5100 | 32621 |
| Sony Group Corp. | &nbsp;&nbsp; 800 | 71055 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 1500 | 108319 |
| TIS Inc. | &nbsp;&nbsp; 5100 | 109249 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 500 | 104624 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 10200 | 223478 |
| Tokyo Tatemono Co. Ltd. | &nbsp;&nbsp; 5100 | 88968 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 10200 | 288519 |
| Toyota Motor Corp. | &nbsp;&nbsp; 5100 | 97975 |
| USS Co. Ltd. | &nbsp;&nbsp; 10200 | 91999 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 3600 | 73820 |
| Yamato Kogyo Co. Ltd. | &nbsp;&nbsp; 1700 | 89839 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 3600 | 146534 |
|  |  | 7381403 |
| **Malaysia — 0.2%** | **Malaysia — 0.2%** | **Malaysia — 0.2%** |
| Petronas Gas Bhd | &nbsp;&nbsp; 5100 | 20216 |
| YTL Corp. Bhd | &nbsp;&nbsp; 148200 | 110225 |
| YTL Power International Bhd | &nbsp;&nbsp; 63400 | 64464 |
|  |  | 194905 |
| **Mexico — 0.3%** | **Mexico — 0.3%** | **Mexico — 0.3%** |
| Banco del Bajio SA<sup>(b)</sup> | &nbsp;&nbsp; 25500 | 75990 |
| Coca-Cola Femsa SAB de CV | &nbsp;&nbsp; 10200 | 92556 |
| Fomento Economico Mexicano SAB de CV | &nbsp;&nbsp; 5100 | 56319 |
| Grupo Aeroportuario del Pacifico SAB de CV, Class B | &nbsp;&nbsp; 5100 | 81368 |
|  |  | 306233 |
| **Netherlands — 1.2%** | **Netherlands — 1.2%** | **Netherlands — 1.2%** |
| Adyen NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 102 | 124770 |
| Akzo Nobel NV | &nbsp;&nbsp; 204 | 12614 |
| ASM International NV | &nbsp;&nbsp; 19 | 13072 |
| ASML Holding NV | &nbsp;&nbsp; 612 | 569877 |
| ING Groep NV | &nbsp;&nbsp; 1428 | 25920 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 14127 | 455104 |
| Randstad NV | &nbsp;&nbsp; 1326 | 64583 |
|  |  | 1265940 |
| **New Zealand — 0.1%** | **New Zealand — 0.1%** | **New Zealand — 0.1%** |
| Contact Energy Ltd. | &nbsp;&nbsp; 5610 | 28380 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **New Zealand (continued)** | **New Zealand (continued)** | **New Zealand (continued)** |
| Fletcher Building Ltd. | &nbsp;&nbsp; 13413 | $24906 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 13158 | 50901 |
|  |  | 104187 |
| **Norway — 0.4%** | **Norway — 0.4%** | **Norway — 0.4%** |
| DNB Bank ASA | &nbsp;&nbsp; 5304 | 109581 |
| Orkla ASA | &nbsp;&nbsp; 13821 | 116642 |
| Var Energi ASA | &nbsp;&nbsp; 16677 | 53127 |
| Yara International ASA | &nbsp;&nbsp; 4029 | 114771 |
|  |  | 394121 |
| **Philippines — 0.1%** | **Philippines — 0.1%** | **Philippines — 0.1%** |
| Bank of the Philippine Islands | &nbsp;&nbsp; 10200 | 21195 |
| Manila Electric Co. | &nbsp;&nbsp; 3570 | 23851 |
| Semirara Mining & Power Corp., Class A | &nbsp;&nbsp; 30600 | 17534 |
|  |  | 62580 |
| **Poland — 0.2%** | **Poland — 0.2%** | **Poland — 0.2%** |
| Bank Handlowy w Warszawie SA | &nbsp;&nbsp; 212 | 5200 |
| Budimex SA | &nbsp;&nbsp; 318 | 51176 |
| LPP SA | &nbsp;&nbsp; 31 | 118852 |
| Orange Polska SA | &nbsp;&nbsp; 15555 | 31166 |
| PGE Polska Grupa Energetyczna SA<sup>(a)</sup> | &nbsp;&nbsp; 24429 | 44978 |
|  |  | 251372 |
| **Portugal — 0.0%** | **Portugal — 0.0%** | **Portugal — 0.0%** |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 1428 | 24959 |
| Navigator Co. SA (The) | &nbsp;&nbsp; 6681 | 27108 |
|  |  | 52067 |
| **Qatar — 0.1%** | **Qatar — 0.1%** | **Qatar — 0.1%** |
| Mesaieed Petrochemical Holding Co. | &nbsp;&nbsp; 126684 | 58077 |
| Ooredoo QPSC | &nbsp;&nbsp; 21338 | 61133 |
|  |  | 119210 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Alrosa PJSC<sup>(a)(c)</sup> | &nbsp;&nbsp; 59760 | 7 |
| PhosAgro PJSC<sup>(a)(c)</sup> | &nbsp;&nbsp; 1025 |  |
| PhosAgro PJSC, GDR<sup>(a)(c)(e)</sup> | &nbsp;&nbsp; 1 |  |
| PhosAgro PJSC, New<sup>(a)(c)</sup> | &nbsp;&nbsp; 20 |  |
| United Co. RUSAL International PJSC<sup>(a)(c)</sup> | &nbsp;&nbsp; 70560 | 9 |
|  |  | 16 |
| **Saudi Arabia — 0.4%** | **Saudi Arabia — 0.4%** | **Saudi Arabia — 0.4%** |
| Elm Co. | &nbsp;&nbsp; 714 | 174127 |
| Nahdi Medical Co. | &nbsp;&nbsp; 1122 | 39726 |
| Riyadh Cables Group Co. | &nbsp;&nbsp; 1211 | 31567 |
| SABIC Agri-Nutrients Co. | &nbsp;&nbsp; 2193 | 68813 |
| SAL Saudi Logistics Services | &nbsp;&nbsp; 663 | 55559 |
| Saudi Electricity Co. | &nbsp;&nbsp; 13555 | 61761 |
|  |  | 431553 |
| **Singapore — 0.4%** | **Singapore — 0.4%** | **Singapore — 0.4%** |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 5100 | 10412 |
| Jardine Cycle & Carriage Ltd. | &nbsp;&nbsp; 2200 | 42838 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 25500 | 91177 |
| STMicroelectronics NV , New | &nbsp;&nbsp; 1632 | 53963 |
| Wilmar International Ltd. | &nbsp;&nbsp; 20400 | 48644 |
| Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp; 76500 | 154244 |
|  |  | 401278 |
| **South Africa — 0.4%** | **South Africa — 0.4%** | **South Africa — 0.4%** |
| African Rainbow Minerals Ltd. | &nbsp;&nbsp; 2958 | 35082 |
| Anglo American Platinum Ltd. | &nbsp;&nbsp; 1632 | 63347 |
| Exxaro Resources Ltd. | &nbsp;&nbsp; 5406 | 57920 |
| Impala Platinum Holdings Ltd. | &nbsp;&nbsp; 5712 | 29344 |
| MTN Group Ltd. | &nbsp;&nbsp; 9639 | 41825 |
| NEPI Rockcastle NV | &nbsp;&nbsp; 11424 | 86386 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Global Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Africa (continued)** | **South Africa (continued)** | **South Africa (continued)** |
| Sasol Ltd. | &nbsp;&nbsp; 13005 | $105454 |
|  |  | 419358 |
| **South Korea — 2.8%** | **South Korea — 2.8%** | **South Korea — 2.8%** |
| CJ Corp. | &nbsp;&nbsp; 159 | 15431 |
| Coway Co. Ltd. | &nbsp;&nbsp; 255 | 11666 |
| DB HiTek Co. Ltd. | &nbsp;&nbsp; 264 | 10514 |
| DB Insurance Co. Ltd. | &nbsp;&nbsp; 1377 | 111258 |
| Doosan Bobcat Inc. | &nbsp;&nbsp; 1377 | 41674 |
| F&F Co. Ltd./New | &nbsp;&nbsp; 265 | 11179 |
| GS Holdings Corp. | &nbsp;&nbsp; 2438 | 87278 |
| Hana Financial Group Inc. | &nbsp;&nbsp; 6630 | 314116 |
| Hankook Tire & Technology Co. Ltd. | &nbsp;&nbsp; 2067 | 67499 |
| Hanmi Science Co. Ltd. | &nbsp;&nbsp; 816 | 18511 |
| Hanwha Aerospace Co. Ltd. | &nbsp;&nbsp; 969 | 203321 |
| Hyundai Marine & Fire Insurance Co. Ltd. | &nbsp;&nbsp; 2091 | 55025 |
| Hyundai Motor Co. | &nbsp;&nbsp; 663 | 120832 |
| Hyundai Rotem Co. Ltd. | &nbsp;&nbsp; 2091 | 74540 |
| KB Financial Group Inc. | &nbsp;&nbsp; 4182 | 270350 |
| KCC Corp. | &nbsp;&nbsp; 153 | 36929 |
| Kia Corp. | &nbsp;&nbsp; 3264 | 267833 |
| Korea Investment Holdings Co. Ltd. | &nbsp;&nbsp; 408 | 21920 |
| Kumho Petrochemical Co. Ltd. | &nbsp;&nbsp; 612 | 62076 |
| LG Innotek Co. Ltd. | &nbsp;&nbsp; 357 | 67050 |
| LG Uplus Corp. | &nbsp;&nbsp; 2385 | 17444 |
| LS Corp. | &nbsp;&nbsp; 220 | 18659 |
| Samsung Biologics Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 102 | 69981 |
| Samsung C&T Corp. | &nbsp;&nbsp; 159 | 18110 |
| Samsung Card Co. Ltd. | &nbsp;&nbsp; 969 | 29747 |
| Samsung E&A Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1428 | 29828 |
| Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 2091 | 128936 |
| Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp; 1173 | 318973 |
| Samsung Life Insurance Co. Ltd. | &nbsp;&nbsp; 714 | 50391 |
| Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp; 8276 | 363986 |
| Woori Financial Group Inc. | &nbsp;&nbsp; 12750 | 146755 |
|  |  | 3061812 |
| **Spain — 0.8%** | **Spain — 0.8%** | **Spain — 0.8%** |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 30396 | 318587 |
| Endesa SA | &nbsp;&nbsp; 4642 | 90074 |
| Iberdrola SA | &nbsp;&nbsp; 2677 | 35358 |
| Naturgy Energy Group SA | &nbsp;&nbsp; 4182 | 100718 |
| Repsol SA | &nbsp;&nbsp; 22695 | 323697 |
| Telefonica SA | &nbsp;&nbsp; 7440 | 33698 |
|  |  | 902132 |
| **Sweden — 0.7%** | **Sweden — 0.7%** | **Sweden — 0.7%** |
| Alfa Laval AB | &nbsp;&nbsp; 3060 | 135301 |
| Axfood AB | &nbsp;&nbsp; 3009 | 74626 |
| Epiroc AB, Class B | &nbsp;&nbsp; 4590 | 77178 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 2805 | 43639 |
| Investor AB, Class B | &nbsp;&nbsp; 5967 | 169404 |
| Kinnevik AB | &nbsp;&nbsp; 6936 | 58155 |
| Securitas AB, Class B | &nbsp;&nbsp; 1122 | 12070 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 6101 | 93830 |
| Spotify Technology SA<sup>(a)</sup> | &nbsp;&nbsp; 51 | 17541 |
| SSAB AB, Class A | &nbsp;&nbsp; 5866 | 30264 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 5763 | 58171 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 2550 | 17533 |
| Volvo AB, Class A | &nbsp;&nbsp; 408 | 10607 |
|  |  | 798319 |
| **Switzerland — 1.6%** | **Switzerland — 1.6%** | **Switzerland — 1.6%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 510 | 28308 |
| Alcon Inc. | &nbsp;&nbsp; 510 | 48289 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Cie. Financiere Richemont SA, Class A, Registered | &nbsp;&nbsp; 816 | $124466 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 918 | 50240 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 255 | 79048 |
| Nestle SA, Registered | &nbsp;&nbsp; 1938 | 196305 |
| Novartis AG, Registered | &nbsp;&nbsp; 3315 | 370046 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 918 | 297211 |
| SGS SA | &nbsp;&nbsp; 714 | 78064 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 31 | 23737 |
| UBS Group AG, Registered | &nbsp;&nbsp; 12750 | 386334 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 204 | 112153 |
|  |  | 1794201 |
| **Taiwan — 1.9%** | **Taiwan — 1.9%** | **Taiwan — 1.9%** |
| AUO Corp. | &nbsp;&nbsp; 51000 | 27846 |
| Chicony Electronics Co. Ltd. | &nbsp;&nbsp; 22000 | 104840 |
| Fortune Electric Co. Ltd. | &nbsp;&nbsp; 6600 | 140850 |
| Gigabyte Technology Co. Ltd. | &nbsp;&nbsp; 3000 | 24262 |
| Global Unichip Corp. | &nbsp;&nbsp; 3000 | 107985 |
| King Slide Works Co. Ltd. | &nbsp;&nbsp; 2000 | 69156 |
| Lite-On Technology Corp. | &nbsp;&nbsp; 17000 | 51991 |
| MediaTek Inc. | &nbsp;&nbsp; 1000 | 38085 |
| Novatek Microelectronics Corp. | &nbsp;&nbsp; 18000 | 290296 |
| President Chain Store Corp. | &nbsp;&nbsp; 12000 | 101643 |
| Realtek Semiconductor Corp. | &nbsp;&nbsp; 11000 | 173525 |
| Ruentex Industries Ltd. | &nbsp;&nbsp; 53000 | 130328 |
| Taiwan Cooperative Financial Holding Co. Ltd. | &nbsp;&nbsp; 102000 | 83638 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 22000 | 641768 |
| Uni-President Enterprises Corp. | &nbsp;&nbsp; 3000 | 7710 |
| Wiwynn Corp. | &nbsp;&nbsp; 1000 | 63384 |
| Yuanta Financial Holding Co. Ltd. | &nbsp;&nbsp; 2040 | 2047 |
|  |  | 2059354 |
| **Thailand — 0.0%** | **Thailand — 0.0%** | **Thailand — 0.0%** |
| PTT Exploration & Production PCL, NVDR | &nbsp;&nbsp; 10200 | 41939 |
| **Turkey — 0.6%** | **Turkey — 0.6%** | **Turkey — 0.6%** |
| Akbank TAS | &nbsp;&nbsp; 48501 | 90653 |
| Anadolu Efes Biracilik Ve Malt Sanayii A/S | &nbsp;&nbsp; 5916 | 47721 |
| Ford Otomotiv Sanayi AS | &nbsp;&nbsp; 867 | 26022 |
| KOC Holding AS | &nbsp;&nbsp; 31059 | 201728 |
| Tofas Turk Otomobil Fabrikasi AS | &nbsp;&nbsp; 3570 | 30183 |
| Turk Traktor ve Ziraat Makineleri AS | &nbsp;&nbsp; 714 | 16698 |
| Turkcell Iletisim Hizmetleri AS | &nbsp;&nbsp; 32895 | 104890 |
| Turkiye Garanti Bankasi AS | &nbsp;&nbsp; 17340 | 64820 |
| Yapi ve Kredi Bankasi A/S | &nbsp;&nbsp; 85374 | 77852 |
|  |  | 660567 |
| **United Arab Emirates — 0.2%** | **United Arab Emirates — 0.2%** | **United Arab Emirates — 0.2%** |
| Abu Dhabi Islamic Bank PJSC | &nbsp;&nbsp; 24786 | 82733 |
| Abu Dhabi National Oil Co. for Distribution PJSC | &nbsp;&nbsp; 13872 | 13478 |
| Dubai Electricity & Water Authority PJSC | &nbsp;&nbsp; 76203 | 49378 |
| Emaar Properties PJSC | &nbsp;&nbsp; 8160 | 19173 |
| Emirates NBD Bank PJSC | &nbsp;&nbsp; 7791 | 40515 |
|  |  | 205277 |
| **United Kingdom — 3.1%** | **United Kingdom — 3.1%** | **United Kingdom — 3.1%** |
| 3i Group PLC | &nbsp;&nbsp; 3937 | 158388 |
| Anglo American PLC | &nbsp;&nbsp; 3573 | 108320 |
| AstraZeneca PLC | &nbsp;&nbsp; 1464 | 232587 |
| Aviva PLC | &nbsp;&nbsp; 3240 | 20872 |
| BAE Systems PLC | &nbsp;&nbsp; 8467 | 141213 |
| BP PLC | &nbsp;&nbsp; 50895 | 300846 |
| British American Tobacco PLC | &nbsp;&nbsp; 1138 | 40377 |
| Burberry Group PLC | &nbsp;&nbsp; 10200 | 102080 |
| Centrica PLC | &nbsp;&nbsp; 153918 | 262426 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Global Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 5850 | $213466 |
| Glencore PLC | &nbsp;&nbsp; 15351 | 85180 |
| GSK PLC | &nbsp;&nbsp; 5509 | 106978 |
| HSBC Holdings PLC | &nbsp;&nbsp; 16600 | 150962 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 67247 | 113771 |
| Legal & General Group PLC | &nbsp;&nbsp; 28730 | 85691 |
| National Grid PLC | &nbsp;&nbsp; 11883 | 150774 |
| Next PLC | &nbsp;&nbsp; 153 | 17883 |
| Pearson PLC | &nbsp;&nbsp; 8364 | 113482 |
| Rio Tinto PLC | &nbsp;&nbsp; 3519 | 228851 |
| Shell PLC | &nbsp;&nbsp; 6386 | 233499 |
| Tesco PLC | &nbsp;&nbsp; 68391 | 291651 |
| Vodafone Group PLC | &nbsp;&nbsp; 134742 | 126085 |
| Wise PLC, Class A<sup>(a)</sup> | &nbsp;&nbsp; 10047 | 92509 |
| WPP PLC | &nbsp;&nbsp; 3896 | 37581 |
|  |  | 3415472 |
| **United States — 60.2%** | **United States — 60.2%** | **United States — 60.2%** |
| Abbott Laboratories | &nbsp;&nbsp; 2413 | 255633 |
| AbbVie Inc. | &nbsp;&nbsp; 4233 | 784460 |
| Accenture PLC, Class A | &nbsp;&nbsp; 1192 | 394099 |
| Adobe Inc.<sup>(a)</sup> | &nbsp;&nbsp; 424 | 233900 |
| Advanced Micro Devices Inc.<sup>(a)</sup> | &nbsp;&nbsp; 306 | 44211 |
| Aflac Inc. | &nbsp;&nbsp; 1941 | 185133 |
| Agilent Technologies Inc. | &nbsp;&nbsp; 794 | 112272 |
| Airbnb Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1989 | 277585 |
| Ally Financial Inc. | &nbsp;&nbsp; 7717 | 347342 |
| Alphabet Inc., Class C, NVS | &nbsp;&nbsp; 16373 | 2834985 |
| Amazon.com Inc.<sup>(a)</sup> | &nbsp;&nbsp; 11220 | 2097916 |
| Amdocs Ltd. | &nbsp;&nbsp; 561 | 49071 |
| American Express Co. | &nbsp;&nbsp; 896 | 226724 |
| Ameriprise Financial Inc. | &nbsp;&nbsp; 1071 | 460605 |
| Amgen Inc. | &nbsp;&nbsp; 816 | 271296 |
| Apple Inc. | &nbsp;&nbsp; 20757 | 4609715 |
| Applied Materials Inc. | &nbsp;&nbsp; 2091 | 443710 |
| Arista Networks Inc.<sup>(a)</sup> | &nbsp;&nbsp; 693 | 240159 |
| AT&T Inc. | &nbsp;&nbsp; 9843 | 189478 |
| Atlassian Corp., NVS<sup>(a)</sup> | &nbsp;&nbsp; 2605 | 459965 |
| AutoZone Inc.<sup>(a)</sup> | &nbsp;&nbsp; 153 | 479455 |
| Bank of America Corp. | &nbsp;&nbsp; 5304 | 213804 |
| Bank of New York Mellon Corp. (The) | &nbsp;&nbsp; 1530 | 99557 |
| Berkshire Hathaway Inc., Class B<sup>(a)</sup> | &nbsp;&nbsp; 459 | 201272 |
| Best Buy Co. Inc. | &nbsp;&nbsp; 5073 | 438916 |
| Biogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 158 | 33686 |
| BlackRock Inc.<sup>(f)</sup> | &nbsp;&nbsp; 128 | 112192 |
| Booking Holdings Inc. | &nbsp;&nbsp; 176 | 653842 |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp; 6938 | 329971 |
| Broadcom Inc. | &nbsp;&nbsp; 8580 | 1378634 |
| Builders FirstSource Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3009 | 503616 |
| Cadence Design Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2296 | 614547 |
| Capital One Financial Corp. | &nbsp;&nbsp; 2169 | 328387 |
| Caterpillar Inc. | &nbsp;&nbsp; 133 | 46045 |
| CDW Corp./DE | &nbsp;&nbsp; 612 | 133483 |
| CF Industries Holdings Inc. | &nbsp;&nbsp; 828 | 63251 |
| Charter Communications Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 153 | 58097 |
| Chevron Corp. | &nbsp;&nbsp; 425 | 68200 |
| Cintas Corp. | &nbsp;&nbsp; 647 | 494269 |
| Cisco Systems Inc. | &nbsp;&nbsp; 4776 | 231397 |
| Coca-Cola Co. (The) | &nbsp;&nbsp; 3009 | 200821 |
| ConocoPhillips | &nbsp;&nbsp; 1657 | 184258 |
| Costco Wholesale Corp. | &nbsp;&nbsp; 622 | 511284 |
| Coupang Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2499 | 51854 |
| Crowdstrike Holdings Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 816 | 189279 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| CSX Corp. | &nbsp;&nbsp; 372 | $13057 |
| CVS Health Corp. | &nbsp;&nbsp; 2063 | 124461 |
| Danaher Corp. | &nbsp;&nbsp; 70 | 19396 |
| DaVita Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1430 | 195367 |
| Deere & Co. | &nbsp;&nbsp; 204 | 75884 |
| Dell Technologies Inc., Class C | &nbsp;&nbsp; 2550 | 289884 |
| Discover Financial Services | &nbsp;&nbsp; 1576 | 226928 |
| DocuSign Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 5457 | 302754 |
| Dow Inc. | &nbsp;&nbsp; 2148 | 117002 |
| DTE Energy Co. | &nbsp;&nbsp; 714 | 86058 |
| Dynatrace Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2295 | 100796 |
| Eaton Corp. PLC | &nbsp;&nbsp; 51 | 15544 |
| eBay Inc. | &nbsp;&nbsp; 5712 | 317644 |
| Electronic Arts Inc. | &nbsp;&nbsp; 255 | 38490 |
| Elevance Health Inc. | &nbsp;&nbsp; 867 | 461270 |
| Eli Lilly & Co. | &nbsp;&nbsp; 1071 | 861373 |
| Emerson Electric Co. | &nbsp;&nbsp; 1581 | 185151 |
| Estee Lauder Companies Inc. (The), Class A | &nbsp;&nbsp; 938 | 93434 |
| Etsy Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3359 | 218805 |
| Everest Group Ltd. | &nbsp;&nbsp; 306 | 120218 |
| Exxon Mobil Corp. | &nbsp;&nbsp; 2245 | 266235 |
| Fair Isaac Corp.<sup>(a)</sup> | &nbsp;&nbsp; 459 | 734400 |
| Ferguson PLC | &nbsp;&nbsp; 2036 | 453315 |
| Fidelity National Financial Inc. | &nbsp;&nbsp; 3880 | 214991 |
| Ford Motor Co. | &nbsp;&nbsp; 2079 | 22495 |
| Fortinet Inc.<sup>(a)</sup> | &nbsp;&nbsp; 8232 | 477785 |
| Fox Corp., Class A, NVS | &nbsp;&nbsp; 5305 | 201802 |
| Gartner Inc.<sup>(a)</sup> | &nbsp;&nbsp; 784 | 392933 |
| GE HealthCare Technologies Inc., NVS<sup>(a)</sup> | &nbsp;&nbsp; 1611 | 136339 |
| General Motors Co. | &nbsp;&nbsp; 1632 | 72330 |
| Gilead Sciences Inc. | &nbsp;&nbsp; 3530 | 268492 |
| Globe Life Inc. | &nbsp;&nbsp; 204 | 18919 |
| Goldman Sachs Group Inc. (The) | &nbsp;&nbsp; 248 | 126239 |
| Hershey Co. (The) | &nbsp;&nbsp; 887 | 175165 |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp; 16897 | 336419 |
| Hologic Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3570 | 291348 |
| Home Depot Inc. (The) | &nbsp;&nbsp; 1942 | 714967 |
| HP Inc. | &nbsp;&nbsp; 8581 | 309688 |
| HubSpot Inc.<sup>(a)</sup> | &nbsp;&nbsp; 286 | 142151 |
| Humana Inc. | &nbsp;&nbsp; 563 | 203586 |
| IDEXX Laboratories Inc.<sup>(a)</sup> | &nbsp;&nbsp; 179 | 85225 |
| International Business Machines Corp. | &nbsp;&nbsp; 436 | 83773 |
| Interpublic Group of Companies Inc. (The) | &nbsp;&nbsp; 4036 | 129838 |
| Intuit Inc. | &nbsp;&nbsp; 884 | 572257 |
| Johnson & Johnson | &nbsp;&nbsp; 4379 | 691225 |
| JPMorgan Chase & Co. | &nbsp;&nbsp; 4389 | 933979 |
| Keysight Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 262 | 36567 |
| KLA Corp. | &nbsp;&nbsp; 511 | 420589 |
| Kroger Co. (The) | &nbsp;&nbsp; 8161 | 444775 |
| Lam Research Corp. | &nbsp;&nbsp; 326 | 300324 |
| Lennox International Inc. | &nbsp;&nbsp; 756 | 441126 |
| Liberty Media Corp.-Liberty Formula One, NVS<sup>(a)</sup> | &nbsp;&nbsp; 716 | 52963 |
| Linde PLC | &nbsp;&nbsp; 459 | 208157 |
| Lowe's Companies Inc. | &nbsp;&nbsp; 2755 | 676380 |
| Lululemon Athletica Inc.<sup>(a)</sup> | &nbsp;&nbsp; 255 | 65958 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp; 2450 | 243677 |
| Marathon Oil Corp. | &nbsp;&nbsp; 5672 | 159100 |
| Marathon Petroleum Corp. | &nbsp;&nbsp; 969 | 171532 |
| Masco Corp. | &nbsp;&nbsp; 2554 | 198829 |
| Mastercard Inc., Class A | &nbsp;&nbsp; 1145 | 530948 |
| Match Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1377 | 52519 |
| McDonald's Corp. | &nbsp;&nbsp; 2071 | 549643 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Global Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| McKesson Corp. | &nbsp;&nbsp; 1122 | $692296 |
| Medtronic PLC | &nbsp;&nbsp; 89 | 7148 |
| MercadoLibre Inc.<sup>(a)(d)</sup> | &nbsp;&nbsp; 154 | 257011 |
| Merck & Co. Inc. | &nbsp;&nbsp; 4896 | 553884 |
| Meta Platforms Inc., Class A | &nbsp;&nbsp; 2676 | 1270645 |
| Mettler-Toledo International Inc.<sup>(a)</sup> | &nbsp;&nbsp; 357 | 543008 |
| Microsoft Corp. | &nbsp;&nbsp; 10914 | 4565872 |
| Moderna Inc.<sup>(a)(d)</sup> | &nbsp;&nbsp; 857 | 102172 |
| Molina Healthcare Inc.<sup>(a)</sup> | &nbsp;&nbsp; 795 | 271310 |
| Mondelez International Inc., Class A | &nbsp;&nbsp; 869 | 59396 |
| Moody's Corp. | &nbsp;&nbsp; 71 | 32410 |
| Mosaic Co. (The) | &nbsp;&nbsp; 1063 | 31646 |
| Motorola Solutions Inc. | &nbsp;&nbsp; 1252 | 499448 |
| MSCI Inc., Class A | &nbsp;&nbsp; 599 | 323915 |
| Nasdaq Inc. | &nbsp;&nbsp; 918 | 62130 |
| NetApp Inc. | &nbsp;&nbsp; 1021 | 129647 |
| News Corp., Class B | &nbsp;&nbsp; 2839 | 80883 |
| Nike Inc., Class B | &nbsp;&nbsp; 1633 | 122246 |
| NiSource Inc. | &nbsp;&nbsp; 1224 | 38250 |
| Nucor Corp. | &nbsp;&nbsp; 1173 | 191129 |
| Nvidia Corp. | &nbsp;&nbsp; 34425 | 4028413 |
| NVR Inc.<sup>(a)</sup> | &nbsp;&nbsp; 25 | 215187 |
| Okta Inc.<sup>(a)</sup> | &nbsp;&nbsp; 102 | 9582 |
| Omnicom Group Inc. | &nbsp;&nbsp; 205 | 20098 |
| Oracle Corp. | &nbsp;&nbsp; 2758 | 384603 |
| O'Reilly Automotive Inc.<sup>(a)</sup> | &nbsp;&nbsp; 312 | 351418 |
| PACCAR Inc. | &nbsp;&nbsp; 100 | 9866 |
| Palo Alto Networks Inc.<sup>(a)</sup> | &nbsp;&nbsp; 975 | 316612 |
| Parker-Hannifin Corp. | &nbsp;&nbsp; 84 | 47137 |
| Paychex Inc. | &nbsp;&nbsp; 306 | 39174 |
| PepsiCo Inc. | &nbsp;&nbsp; 4369 | 754395 |
| Pfizer Inc. | &nbsp;&nbsp; 9386 | 286648 |
| Philip Morris International Inc. | &nbsp;&nbsp; 2348 | 270396 |
| Principal Financial Group Inc. | &nbsp;&nbsp; 1302 | 106126 |
| Procore Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1173 | 83318 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp; 4794 | 770683 |
| Prologis Inc. | &nbsp;&nbsp; 102 | 12857 |
| Public Storage | &nbsp;&nbsp; 663 | 196195 |
| PulteGroup Inc. | &nbsp;&nbsp; 1887 | 249084 |
| Qorvo Inc.<sup>(a)</sup> | &nbsp;&nbsp; 459 | 54988 |
| Qualcomm Inc. | &nbsp;&nbsp; 2390 | 432471 |
| Regency Centers Corp. | &nbsp;&nbsp; 526 | 35421 |
| Regions Financial Corp. | &nbsp;&nbsp; 3395 | 75946 |
| S&P Global Inc. | &nbsp;&nbsp; 563 | 272903 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp; 204 | 20843 |
| ServiceNow Inc.<sup>(a)</sup> | &nbsp;&nbsp; 405 | 329828 |
| Simon Property Group Inc. | &nbsp;&nbsp; 510 | 78254 |
| Sirius XM Holdings Inc.<sup>(d)</sup> | &nbsp;&nbsp; 28015 | 96652 |
| Starbucks Corp. | &nbsp;&nbsp; 2195 | 171100 |
| State Street Corp. | &nbsp;&nbsp; 2204 | 187274 |
| Steel Dynamics Inc. | &nbsp;&nbsp; 2346 | 312534 |
| Synchrony Financial | &nbsp;&nbsp; 10260 | 521105 |
| Synopsys Inc.<sup>(a)</sup> | &nbsp;&nbsp; 472 | 263527 |
| Target Corp. | &nbsp;&nbsp; 2244 | 337520 |
| Tesla Inc.<sup>(a)</sup> | &nbsp;&nbsp; 969 | 224876 |
| Texas Instruments Inc. | &nbsp;&nbsp; 2373 | 483641 |
| Thermo Fisher Scientific Inc. | &nbsp;&nbsp; 714 | 437925 |
| TJX Companies Inc. (The) | &nbsp;&nbsp; 563 | 63630 |
| Tractor Supply Co. | &nbsp;&nbsp; 171 | 45028 |
| Trane Technologies PLC | &nbsp;&nbsp; 1155 | 386093 |
| Travelers Companies Inc. (The) | &nbsp;&nbsp; 706 | 152807 |
| Uber Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 153 | 9864 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| UiPath Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7395 | $89997 |
| Ulta Beauty Inc.<sup>(a)</sup> | &nbsp;&nbsp; 102 | 37219 |
| Union Pacific Corp. | &nbsp;&nbsp; 460 | 113496 |
| United Rentals Inc. | &nbsp;&nbsp; 153 | 115836 |
| UnitedHealth Group Inc. | &nbsp;&nbsp; 1531 | 882101 |
| Valero Energy Corp. | &nbsp;&nbsp; 612 | 98973 |
| Veeva Systems Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 51 | 9788 |
| Veralto Corp. | &nbsp;&nbsp; 3621 | 385854 |
| VeriSign Inc.<sup>(a)</sup> | &nbsp;&nbsp; 102 | 19075 |
| Verizon Communications Inc. | &nbsp;&nbsp; 2754 | 111592 |
| Vertex Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 373 | 184904 |
| VICI Properties Inc., Class A | &nbsp;&nbsp; 714 | 22320 |
| Visa Inc., Class A<sup>(d)</sup> | &nbsp;&nbsp; 2725 | 723951 |
| Vistra Corp. | &nbsp;&nbsp; 1887 | 149488 |
| Walmart Inc. | &nbsp;&nbsp; 8508 | 583989 |
| Wells Fargo & Co. | &nbsp;&nbsp; 2689 | 159565 |
| Weyerhaeuser Co. | &nbsp;&nbsp; 513 | 16293 |
| WW Grainger Inc. | &nbsp;&nbsp; 236 | 230527 |
| Yum! Brands Inc. | &nbsp;&nbsp; 1785 | 237102 |
| Zscaler Inc.<sup>(a)</sup> | &nbsp;&nbsp; 603 | 108148 |
|  |  | 65871561 |
| **Total Common Stocks — 99.2%** <br>**(Cost: $83,940,439)** | **Total Common Stocks — 99.2%** <br>**(Cost: $83,940,439)** | 108639503 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Brazil — 0.2%** | **Brazil — 0.2%** | **Brazil — 0.2%** |
| Cia. Energetica de Minas Gerais, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 43074 | 82704 |
| Gerdau SA, Preference Shares, NVS | &nbsp;&nbsp; 40404 | 130438 |
|  |  | 213142 |
| **Chile — 0.1%** | **Chile — 0.1%** | **Chile — 0.1%** |
| Sociedad Quimica y Minera de Chile SA, Class B, <br> Preference Shares<br>| &nbsp;&nbsp; 1734 | 65742 |
| **Germany — 0.2%** | **Germany — 0.2%** | **Germany — 0.2%** |
| Dr Ing hc F Porsche AG, Preference Shares, NVS<sup>(b)</sup> | &nbsp;&nbsp; 3162 | 238101 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Surgutneftegas PJSC, Preference Shares, NVS<sup>(a)(c)</sup> | &nbsp;&nbsp; 145100 | 17 |
| **Total Preferred Stocks — 0.5%** <br>**(Cost: $814,256)** | **Total Preferred Stocks — 0.5%** <br>**(Cost: $814,256)** | 517002 |
| **Total Long-Term Investments — 99.7%** <br>**(Cost: $84,754,695)** | **Total Long-Term Investments — 99.7%** <br>**(Cost: $84,754,695)** | 109156505 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.3%** | **Money Market Funds — 1.3%** | **Money Market Funds — 1.3%** |
| BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 5.45%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 1240931 | 1241428 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 180000 | 180000 |
| **Total Short-Term Securities — 1.3%** <br>**(Cost: $1,421,528)** | **Total Short-Term Securities — 1.3%** <br>**(Cost: $1,421,528)** | 1421428 |
| **Total Investments — 101.0%** <br>**(Cost: $86,176,223)** | **Total Investments — 101.0%** <br>**(Cost: $86,176,223)** | 110577933 |
| **Liabilities in Excess of Other Assets — (1.0)%** | **Liabilities in Excess of Other Assets — (1.0)%** | (1098395)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $109479538 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Global Equity Factor ETF**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> 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. 

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

<sup>(d)</sup> All or a portion of this security is on loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $1228857 | $12578 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(40)<br>| $33 | $1241428 | 1240931 | $48120 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 100000 | 80000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 180000 | 180000 | 7114 | &nbsp;&nbsp; — |
| BlackRock Inc. | 119694 | 3199 | &nbsp;&nbsp; (28655)<br>| 2456 | 15498 | 112192 | 128 | 3110 | &nbsp;&nbsp; — |
|  |  |  |  | $2416 | $15531 | $1533620 |  | $58344 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| MSCI EAFE Index | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $239 | &nbsp;&nbsp; $5055 |
| MSCI Emerging Markets Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 55 | &nbsp;&nbsp; (892)<br>|
|  |  |  |  | &nbsp;&nbsp; $4163 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5055 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5055 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $892 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $892 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® Global Equity Factor ETF**

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $10830 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $10830 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(12680)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(12680)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $295496 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $71716552 | &nbsp;&nbsp; $36922935 | &nbsp;&nbsp; $16 | &nbsp;&nbsp; $108639503 |
| Preferred Stocks | &nbsp;&nbsp; 278884 | &nbsp;&nbsp; 238101 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 517002 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1421428 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1421428 |
|  | &nbsp;&nbsp; $73416864 | &nbsp;&nbsp; $37161036 | &nbsp;&nbsp; $33 | &nbsp;&nbsp; $110577933 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $5055 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5055 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; (892)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (892)<br>|
|  | &nbsp;&nbsp; $4163 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4163 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® International Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 7.2%** | **Australia — 7.2%** | **Australia — 7.2%** |
| ALS Ltd. | &nbsp;&nbsp; 98684 | $999099 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 69918 | 1330193 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 41426 | 1475350 |
| ASX Ltd. | &nbsp;&nbsp; 26356 | 1122928 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 1590853 | 3878931 |
| BHP Group Ltd. | &nbsp;&nbsp; 315184 | 8754218 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 155092 | 2252114 |
| Brambles Ltd. | &nbsp;&nbsp; 385981 | 3934950 |
| Coles Group Ltd. | &nbsp;&nbsp; 73790 | 874535 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 34352 | 3095462 |
| CSL Ltd. | &nbsp;&nbsp; 3605 | 731682 |
| Fortescue Ltd. | &nbsp;&nbsp; 236631 | 2944359 |
| JB Hi-Fi Ltd. | &nbsp;&nbsp; 117463 | 5363203 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 907524 | 2957223 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 34443 | 4740241 |
| Metcash Ltd. | &nbsp;&nbsp; 819337 | 1962701 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 17428 | 623274 |
| New Hope Corp. Ltd. | &nbsp;&nbsp; 553868 | 1766389 |
| Orora Ltd. | &nbsp;&nbsp; 639786 | 856063 |
| Pro Medicus Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 16640 | 1569970 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 77723 | 5972398 |
| South32 Ltd. | &nbsp;&nbsp; 1199640 | 2406111 |
| Stockland | &nbsp;&nbsp; 826509 | 2496396 |
| Telix Pharmaceuticals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 154212 | 1935974 |
| Telstra Group Ltd. | &nbsp;&nbsp; 1232406 | 3184862 |
| Ventia Services Group Pty Ltd. | &nbsp;&nbsp; 424532 | 1222248 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 52085 | 2513737 |
| Whitehaven Coal Ltd. | &nbsp;&nbsp; 893523 | 4510913 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 5550 | 100648 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 118841 | 2681430 |
| Yancoal Australia Ltd., NVS | &nbsp;&nbsp; 534672 | 2477933 |
|  |  | 80735535 |
| **Austria — 0.8%** | **Austria — 0.8%** | **Austria — 0.8%** |
| Andritz AG | &nbsp;&nbsp; 27166 | 1740261 |
| BAWAG Group AG<sup>(c)</sup> | &nbsp;&nbsp; 16504 | 1205286 |
| OMV AG | &nbsp;&nbsp; 59517 | 2490197 |
| Raiffeisen Bank International AG | &nbsp;&nbsp; 78585 | 1532040 |
| Verbund AG | &nbsp;&nbsp; 12760 | 1024572 |
| Wienerberger AG | &nbsp;&nbsp; 41931 | 1486643 |
|  |  | 9478999 |
| **Belgium — 0.6%** | **Belgium — 0.6%** | **Belgium — 0.6%** |
| Ageas SA/NV | &nbsp;&nbsp; 76095 | 3632868 |
| KBC Group NV | &nbsp;&nbsp; 2653 | 205199 |
| Syensqo SA | &nbsp;&nbsp; 28559 | 2525409 |
|  |  | 6363476 |
| **Canada — 5.9%** | **Canada — 5.9%** | **Canada — 5.9%** |
| Bank of Montreal | &nbsp;&nbsp; 18197 | 1534814 |
| BCE Inc. | &nbsp;&nbsp; 16194 | 546232 |
| Brookfield Asset Management Ltd. | &nbsp;&nbsp; 15084 | 658358 |
| Canadian National Railway Co. | &nbsp;&nbsp; 3268 | 378318 |
| Canadian Natural Resources Ltd. | &nbsp;&nbsp; 101264 | 3595380 |
| CGI Inc.<sup>(b)</sup> | &nbsp;&nbsp; 75877 | 8651951 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 1903 | 6004433 |
| Dollarama Inc. | &nbsp;&nbsp; 31698 | 2971551 |
| Fairfax Financial Holdings Ltd. | &nbsp;&nbsp; 851 | 1003603 |
| Loblaw Companies Ltd. | &nbsp;&nbsp; 69773 | 8603812 |
| Magna International Inc. | &nbsp;&nbsp; 14649 | 650088 |
| Manulife Financial Corp. | &nbsp;&nbsp; 122195 | 3255229 |
| Nutrien Ltd. | &nbsp;&nbsp; 58876 | 3019599 |
| Royal Bank of Canada | &nbsp;&nbsp; 95756 | 10700203 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Sun Life Financial Inc. | &nbsp;&nbsp; 4857 | $241117 |
| Suncor Energy Inc. | &nbsp;&nbsp; 67374 | 2690763 |
| Thomson Reuters Corp. | &nbsp;&nbsp; 52206 | 8460575 |
| Toronto-Dominion Bank (The) | &nbsp;&nbsp; 51147 | 3020327 |
|  |  | 65986353 |
| **China — 0.1%** | **China — 0.1%** | **China — 0.1%** |
| HUTCHMED China Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 342500 | 1324491 |
| **Denmark — 3.8%** | **Denmark — 3.8%** | **Denmark — 3.8%** |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 362 | 598870 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 12088 | 1459710 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 7340 | 954204 |
| ISS A/S | &nbsp;&nbsp; 152690 | 2790953 |
| Jyske Bank A/S, Registered | &nbsp;&nbsp; 4450 | 362777 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 220016 | 29150554 |
| Pandora A/S | &nbsp;&nbsp; 29589 | 4638174 |
| Sydbank A/S | &nbsp;&nbsp; 55942 | 3015960 |
|  |  | 42971202 |
| **Finland — 1.7%** | **Finland — 1.7%** | **Finland — 1.7%** |
| Cargotec OYJ, Class B | &nbsp;&nbsp; 39424 | 2009544 |
| Kemira OYJ | &nbsp;&nbsp; 92004 | 2081041 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 75034 | 1357267 |
| Kone OYJ, Class B | &nbsp;&nbsp; 16724 | 854004 |
| Konecranes OYJ | &nbsp;&nbsp; 54285 | 3791986 |
| Nokia OYJ | &nbsp;&nbsp; 95542 | 375471 |
| Nordea Bank Abp | &nbsp;&nbsp; 520571 | 6091584 |
| Orion OYJ, Class B | &nbsp;&nbsp; 47383 | 2177872 |
|  |  | 18738769 |
| **France — 8.6%** | **France — 8.6%** | **France — 8.6%** |
| Air Liquide SA | &nbsp;&nbsp; 9043 | 1649972 |
| AXA SA | &nbsp;&nbsp; 4170 | 146408 |
| BNP Paribas SA | &nbsp;&nbsp; 31076 | 2129132 |
| Bouygues SA | &nbsp;&nbsp; 84413 | 2914443 |
| Capgemini SE | &nbsp;&nbsp; 7557 | 1500242 |
| Carrefour SA | &nbsp;&nbsp; 132344 | 1974206 |
| Christian Dior SE, NVS | &nbsp;&nbsp; 4886 | 3212583 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 53190 | 4562943 |
| Credit Agricole SA | &nbsp;&nbsp; 344925 | 5234397 |
| Danone SA | &nbsp;&nbsp; 1900 | 123434 |
| Dassault Systemes SE | &nbsp;&nbsp; 46597 | 1766435 |
| Edenred SE | &nbsp;&nbsp; 5376 | 223850 |
| Eiffage SA | &nbsp;&nbsp; 24932 | 2481275 |
| Engie SA | &nbsp;&nbsp; 146119 | 2297014 |
| EssilorLuxottica SA | &nbsp;&nbsp; 3273 | 748992 |
| Hermes International SCA | &nbsp;&nbsp; 1350 | 2950202 |
| Kering SA | &nbsp;&nbsp; 5117 | 1571624 |
| Klepierre SA | &nbsp;&nbsp; 11937 | 341811 |
| La Francaise des Jeux SAEM<sup>(c)</sup> | &nbsp;&nbsp; 98520 | 3822451 |
| Legrand SA | &nbsp;&nbsp; 10599 | 1145189 |
| L'Oreal SA | &nbsp;&nbsp; 17868 | 7726971 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 14610 | 10305342 |
| Pernod Ricard SA | &nbsp;&nbsp; 5568 | 745038 |
| Publicis Groupe SA | &nbsp;&nbsp; 52110 | 5440098 |
| Renault SA | &nbsp;&nbsp; 11623 | 563275 |
| Rexel SA | &nbsp;&nbsp; 67864 | 1724213 |
| Sanofi SA | &nbsp;&nbsp; 50106 | 5165552 |
| Schneider Electric SE | &nbsp;&nbsp; 22806 | 5497048 |
| SES SA, Class A | &nbsp;&nbsp; 157739 | 852932 |
| Societe Generale SA | &nbsp;&nbsp; 99131 | 2571157 |
| Sodexo SA | &nbsp;&nbsp; 1632 | 154562 |
| TotalEnergies SE | &nbsp;&nbsp; 140557 | 9482859 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 50890 | $3805616 |
| Vinci SA | &nbsp;&nbsp; 17072 | 1948221 |
|  |  | 96779487 |
| **Germany — 5.3%** | **Germany — 5.3%** | **Germany — 5.3%** |
| Allianz SE, Registered | &nbsp;&nbsp; 14823 | 4175126 |
| BASF SE | &nbsp;&nbsp; 19994 | 930863 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 55160 | 5116042 |
| Commerzbank AG | &nbsp;&nbsp; 186901 | 3046948 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 29334 | 456598 |
| Deutsche Boerse AG | &nbsp;&nbsp; 15843 | 3244146 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 55895 | 2493226 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 156682 | 4098407 |
| E.ON SE | &nbsp;&nbsp; 201768 | 2829417 |
| GEA Group AG | &nbsp;&nbsp; 46512 | 2053759 |
| Hannover Rueck SE | &nbsp;&nbsp; 607 | 150712 |
| Heidelberg Materials AG | &nbsp;&nbsp; 19424 | 2023576 |
| HOCHTIEF AG | &nbsp;&nbsp; 14418 | 1714170 |
| Hugo Boss AG<sup>(a)</sup> | &nbsp;&nbsp; 36128 | 1435744 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 83827 | 5541335 |
| Muenchener Rueckversicherungs-Gesellschaft AG in <br> Muenchen, Registered<br>| &nbsp;&nbsp; 7567 | 3726935 |
| Qiagen NV, NVS | &nbsp;&nbsp; 23869 | 1062026 |
| SAP SE | &nbsp;&nbsp; 46444 | 9819201 |
| Siemens AG, Registered | &nbsp;&nbsp; 28498 | 5217898 |
| Wacker Chemie AG | &nbsp;&nbsp; 8440 | 843569 |
|  |  | 59979698 |
| **Hong Kong — 1.4%** | **Hong Kong — 1.4%** | **Hong Kong — 1.4%** |
| AIA Group Ltd. | &nbsp;&nbsp; 538400 | 3601280 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 354000 | 1352659 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 234500 | 1225053 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 165000 | 199842 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 49000 | 1445354 |
| Hongkong Land Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 146500 | 473138 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 80100 | 2821838 |
| PCCW Ltd. | &nbsp;&nbsp; 819000 | 424631 |
| Swire Properties Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 825000 | 1302947 |
| WH Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 3028500 | 1968657 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 220000 | 540852 |
|  |  | 15356251 |
| **Ireland — 0.8%** | **Ireland — 0.8%** | **Ireland — 0.8%** |
| AIB Group PLC | &nbsp;&nbsp; 1171740 | 6721200 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 173600 | 1966009 |
|  |  | 8687209 |
| **Italy — 3.7%** | **Italy — 3.7%** | **Italy — 3.7%** |
| A2A SpA | &nbsp;&nbsp; 1687288 | 3573794 |
| Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp; 778393 | 4247580 |
| Banco BPM SpA | &nbsp;&nbsp; 71568 | 495513 |
| BPER Banca SpA | &nbsp;&nbsp; 731328 | 4279023 |
| Brunello Cucinelli SpA | &nbsp;&nbsp; 11817 | 1103793 |
| Enel SpA | &nbsp;&nbsp; 343770 | 2454234 |
| Eni SpA | &nbsp;&nbsp; 254925 | 4078747 |
| Generali | &nbsp;&nbsp; 15175 | 392775 |
| Hera SpA | &nbsp;&nbsp; 81650 | 298757 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 471194 | 1913440 |
| Italgas SpA | &nbsp;&nbsp; 277528 | 1483988 |
| Iveco Group NV | &nbsp;&nbsp; 189690 | 1947951 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 53201 | 863625 |
| Poste Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 85911 | 1163024 |
| Prysmian SpA | &nbsp;&nbsp; 45818 | 3149735 |
| Snam SpA | &nbsp;&nbsp; 402301 | 1922446 |
| Stellantis NV | &nbsp;&nbsp; 131347 | 2188774 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 144208 | $1200856 |
| UniCredit SpA | &nbsp;&nbsp; 133504 | 5483637 |
|  |  | 42241692 |
| **Japan — 24.8%** | **Japan — 24.8%** | **Japan — 24.8%** |
| 77 Bank Ltd. (The) | &nbsp;&nbsp; 25700 | 802333 |
| Advance Residence Investment Corp. | &nbsp;&nbsp; 215 | 451064 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 34200 | 1408535 |
| Amada Co. Ltd. | &nbsp;&nbsp; 75400 | 885492 |
| Asics Corp. | &nbsp;&nbsp; 258800 | 4223701 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 186100 | 2158378 |
| BayCurrent Consulting Inc. | &nbsp;&nbsp; 9000 | 277061 |
| BIPROGY Inc. | &nbsp;&nbsp; 64400 | 2110294 |
| Canon Inc. | &nbsp;&nbsp; 28400 | 888968 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 128600 | 2747400 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 27700 | 349256 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 53600 | 2339237 |
| Coca-Cola Bottlers Japan Holdings Inc. | &nbsp;&nbsp; 166700 | 2485950 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 42500 | 1398174 |
| Daicel Corp. | &nbsp;&nbsp; 146000 | 1419236 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 78800 | 2402635 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 135700 | 5526744 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 240000 | 1981462 |
| Dentsu Group Inc. | &nbsp;&nbsp; 24200 | 639926 |
| Dexerials Corp. | &nbsp;&nbsp; 35900 | 1723512 |
| Disco Corp. | &nbsp;&nbsp; 9500 | 3176767 |
| DMG Mori Co. Ltd. | &nbsp;&nbsp; 36900 | 938903 |
| Ebara Corp. | &nbsp;&nbsp; 134800 | 1930405 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 11400 | 3142396 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 12600 | 708711 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 90600 | 2154099 |
| Fujikura Ltd. | &nbsp;&nbsp; 150200 | 3009049 |
| Fujitsu Ltd. | &nbsp;&nbsp; 113700 | 2064810 |
| GMO Payment Gateway Inc. | &nbsp;&nbsp; 7400 | 424200 |
| Goldwin Inc.<sup>(a)</sup> | &nbsp;&nbsp; 9000 | 554291 |
| Gunma Bank Ltd. (The) | &nbsp;&nbsp; 18200 | 123470 |
| Hachijuni Bank Ltd. (The) | &nbsp;&nbsp; 367800 | 2621529 |
| Hirose Electric Co. Ltd. | &nbsp;&nbsp; 6100 | 763743 |
| Hitachi Ltd. | &nbsp;&nbsp; 267400 | 5777622 |
| Hokkaido Electric Power Co. Inc. | &nbsp;&nbsp; 237000 | 1611570 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 306300 | 3272684 |
| Horiba Ltd. | &nbsp;&nbsp; 1700 | 134547 |
| Hoya Corp. | &nbsp;&nbsp; 27300 | 3420710 |
| Internet Initiative Japan Inc. | &nbsp;&nbsp; 150500 | 2545188 |
| Isetan Mitsukoshi Holdings Ltd. | &nbsp;&nbsp; 44100 | 877383 |
| ITOCHU Corp. | &nbsp;&nbsp; 114000 | 5846311 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 225500 | 2346591 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 130000 | 1376759 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 197500 | 4066038 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 1105 | 3832700 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 5700 | 167723 |
| Kamigumi Co. Ltd. | &nbsp;&nbsp; 107900 | 2460748 |
| KDDI Corp. | &nbsp;&nbsp; 8300 | 249747 |
| Keyence Corp. | &nbsp;&nbsp; 7100 | 3104547 |
| Kikkoman Corp. | &nbsp;&nbsp; 30000 | 375418 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 12700 | 179547 |
| Konami Group Corp. | &nbsp;&nbsp; 9000 | 677156 |
| Kyudenko Corp. | &nbsp;&nbsp; 59100 | 2722206 |
| LaSalle Logiport REIT | &nbsp;&nbsp; 1391 | 1372406 |
| Macnica Holdings Inc. | &nbsp;&nbsp; 32900 | 1327781 |
| Marubeni Corp. | &nbsp;&nbsp; 69400 | 1306091 |
| Maruichi Steel Tube Ltd. | &nbsp;&nbsp; 80900 | 1971465 |
| Mazda Motor Corp. | &nbsp;&nbsp; 110800 | 955696 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Mitsubishi Corp. | &nbsp;&nbsp; 95400 | $1970206 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 85800 | 1462369 |
| Mitsubishi Gas Chemical Co. Inc. | &nbsp;&nbsp; 16900 | 319495 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 392400 | 4703336 |
| Mitsubishi Logistics Corp. | &nbsp;&nbsp; 23000 | 804513 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 595400 | 6877079 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 126200 | 2928330 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 9000 | 93239 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 262500 | 6000788 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 209800 | 4945938 |
| Nihon Kohden Corp. | &nbsp;&nbsp; 20200 | 311270 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 111800 | 6177888 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 75600 | 3740753 |
| Nippon Gas Co. Ltd. | &nbsp;&nbsp; 125700 | 1959404 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 6515000 | 6943121 |
| Nishi-Nippon Financial Holdings Inc. | &nbsp;&nbsp; 160000 | 2178512 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 44200 | 1426155 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 672300 | 2133964 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 30300 | 900903 |
| Nitto Denko Corp. | &nbsp;&nbsp; 19300 | 1675886 |
| NOF Corp. | &nbsp;&nbsp; 29900 | 428481 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 163600 | 1008693 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 116100 | 3245541 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 76 | 74560 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 112800 | 3482327 |
| Olympus Corp. | &nbsp;&nbsp; 34100 | 588705 |
| ORIX Corp. | &nbsp;&nbsp; 94200 | 2278664 |
| Otsuka Corp. | &nbsp;&nbsp; 45800 | 1015284 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 66800 | 547171 |
| Persol Holdings Co. Ltd. | &nbsp;&nbsp; 671200 | 1151178 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 81700 | 4684947 |
| Sankyo Co. Ltd. | &nbsp;&nbsp; 212900 | 2364036 |
| Sanrio Co. Ltd. | &nbsp;&nbsp; 99600 | 2114638 |
| Sanwa Holdings Corp. | &nbsp;&nbsp; 132800 | 2844607 |
| SBI Holdings Inc. | &nbsp;&nbsp; 119900 | 3116637 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 27300 | 2313394 |
| SCSK Corp. | &nbsp;&nbsp; 77500 | 1525813 |
| Sega Sammy Holdings Inc. | &nbsp;&nbsp; 62800 | 1016975 |
| Seiko Epson Corp. | &nbsp;&nbsp; 27200 | 470843 |
| Sekisui House Ltd. | &nbsp;&nbsp; 88400 | 2214979 |
| Sekisui House REIT Inc. | &nbsp;&nbsp; 900 | 475573 |
| Shimadzu Corp. | &nbsp;&nbsp; 20600 | 607582 |
| Shimamura Co. Ltd. | &nbsp;&nbsp; 23500 | 1151757 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 33200 | 1475098 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 9000 | 395902 |
| SHO-BOND Holdings Co. Ltd. | &nbsp;&nbsp; 50500 | 1944884 |
| SMC Corp. | &nbsp;&nbsp; 300 | 145970 |
| Socionext Inc. | &nbsp;&nbsp; 40700 | 821881 |
| SoftBank Corp. | &nbsp;&nbsp; 15500 | 202194 |
| Sohgo Security Services Co. Ltd. | &nbsp;&nbsp; 422800 | 2704360 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 108900 | 2483129 |
| Sony Group Corp. | &nbsp;&nbsp; 51700 | 4591921 |
| Sumitomo Heavy Industries Ltd. | &nbsp;&nbsp; 8500 | 228270 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 70200 | 5069347 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 14100 | 356403 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 10600 | 350359 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 2900 | 104157 |
| Takashimaya Co. Ltd. | &nbsp;&nbsp; 39800 | 737018 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 67800 | 1903435 |
| TIS Inc. | &nbsp;&nbsp; 90100 | 1930071 |
| Toho Gas Co. Ltd. | &nbsp;&nbsp; 51700 | 1596821 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 139600 | 5476942 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 19700 | $4122173 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 160000 | 3505540 |
| Tokyo Ohka Kogyo Co. Ltd. | &nbsp;&nbsp; 28600 | 736159 |
| Tokyo Tatemono Co. Ltd. | &nbsp;&nbsp; 181700 | 3169685 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 118300 | 3346251 |
| Toyota Motor Corp. | &nbsp;&nbsp; 559500 | 10748417 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 19700 | 944270 |
| USS Co. Ltd. | &nbsp;&nbsp; 451800 | 4075013 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 45600 | 935047 |
| Yamaguchi Financial Group Inc. | &nbsp;&nbsp; 145300 | 1806214 |
| Yamato Kogyo Co. Ltd. | &nbsp;&nbsp; 50800 | 2684610 |
| Yamazaki Baking Co. Ltd. | &nbsp;&nbsp; 44700 | 1105232 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 67300 | 2739365 |
|  |  | 278522037 |
| **Netherlands — 4.7%** | **Netherlands — 4.7%** | **Netherlands — 4.7%** |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 180946 | 3158747 |
| Adyen NV<sup>(b)(c)</sup> | &nbsp;&nbsp; 2040 | 2495406 |
| Akzo Nobel NV | &nbsp;&nbsp; 24644 | 1523793 |
| ASM International NV | &nbsp;&nbsp; 3869 | 2661953 |
| ASML Holding NV | &nbsp;&nbsp; 23581 | 21957951 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 13456 | 1733464 |
| Fugro NV | &nbsp;&nbsp; 60427 | 1613883 |
| ING Groep NV | &nbsp;&nbsp; 190507 | 3457882 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 211703 | 6820052 |
| Koninklijke KPN NV | &nbsp;&nbsp; 251336 | 990310 |
| NN Group NV | &nbsp;&nbsp; 4331 | 217348 |
| OCI NV | &nbsp;&nbsp; 117092 | 2821962 |
| Randstad NV | &nbsp;&nbsp; 34605 | 1685435 |
| Signify NV<sup>(c)</sup> | &nbsp;&nbsp; 55598 | 1376294 |
|  |  | 52514480 |
| **New Zealand — 0.5%** | **New Zealand — 0.5%** | **New Zealand — 0.5%** |
| Contact Energy Ltd. | &nbsp;&nbsp; 76613 | 387568 |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 15773 | 304495 |
| Fletcher Building Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 829060 | 1539455 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 700105 | 2708338 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 198734 | 510743 |
|  |  | 5450599 |
| **Norway — 0.9%** | **Norway — 0.9%** | **Norway — 0.9%** |
| DNB Bank ASA | &nbsp;&nbsp; 100534 | 2077036 |
| Equinor ASA | &nbsp;&nbsp; 34391 | 910680 |
| Norsk Hydro ASA | &nbsp;&nbsp; 326112 | 1808897 |
| Orkla ASA | &nbsp;&nbsp; 287612 | 2427299 |
| Yara International ASA | &nbsp;&nbsp; 91266 | 2599835 |
|  |  | 9823747 |
| **Poland — 0.1%** | **Poland — 0.1%** | **Poland — 0.1%** |
| LPP SA | &nbsp;&nbsp; 412 | 1579585 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| Galp Energia SGPS SA | &nbsp;&nbsp; 6948 | 146092 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 49754 | 869617 |
|  |  | 1015709 |
| **Singapore — 1.9%** | **Singapore — 1.9%** | **Singapore — 1.9%** |
| ComfortDelGro Corp. Ltd. | &nbsp;&nbsp; 2094400 | 2197268 |
| Jardine Cycle & Carriage Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 48500 | 944386 |
| NetLink NBN Trust | &nbsp;&nbsp; 3035100 | 1930003 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 200700 | 2233920 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 960700 | 3435049 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 213100 | 705527 |
| STMicroelectronics NV , New | &nbsp;&nbsp; 37541 | 1241303 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 118700 | 2878318 |
| Wilmar International Ltd. | &nbsp;&nbsp; 1048300 | 2499707 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Singapore (continued)** | **Singapore (continued)** | **Singapore (continued)** |
| Yangzijiang Shipbuilding Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1436600 | $2896559 |
|  |  | 20962040 |
| **Spain — 2.6%** | **Spain — 2.6%** | **Spain — 2.6%** |
| Acciona SA<sup>(a)</sup> | &nbsp;&nbsp; 21160 | 2743257 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 4067 | 181700 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 601236 | 6301682 |
| Banco de Sabadell SA | &nbsp;&nbsp; 2138453 | 4512659 |
| Banco Santander SA | &nbsp;&nbsp; 174212 | 840424 |
| Bankinter SA | &nbsp;&nbsp; 25778 | 220181 |
| CaixaBank SA | &nbsp;&nbsp; 61155 | 356671 |
| Endesa SA | &nbsp;&nbsp; 97606 | 1893966 |
| Iberdrola SA | &nbsp;&nbsp; 228326 | 3015774 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 54991 | 2671950 |
| Naturgy Energy Group SA | &nbsp;&nbsp; 15312 | 368771 |
| Redeia Corp. SA | &nbsp;&nbsp; 6608 | 117324 |
| Repsol SA | &nbsp;&nbsp; 318705 | 4545664 |
| Telefonica SA | &nbsp;&nbsp; 416194 | 1885042 |
|  |  | 29655065 |
| **Sweden — 2.4%** | **Sweden — 2.4%** | **Sweden — 2.4%** |
| Alfa Laval AB | &nbsp;&nbsp; 51199 | 2263817 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 16323 | 497106 |
| Axfood AB | &nbsp;&nbsp; 74093 | 1837588 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 164493 | 2559090 |
| Hemnet Group AB | &nbsp;&nbsp; 78438 | 2898980 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 84739 | 572255 |
| Investor AB, Class B | &nbsp;&nbsp; 223731 | 6351749 |
| Kinnevik AB | &nbsp;&nbsp; 186997 | 1567881 |
| Sandvik AB | &nbsp;&nbsp; 26308 | 538573 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 148591 | 2285253 |
| SSAB AB, Class B | &nbsp;&nbsp; 337047 | 1708392 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 49610 | 500757 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 109700 | 754282 |
| Telia Co. AB | &nbsp;&nbsp; 80412 | 233707 |
| Thule Group AB<sup>(c)</sup> | &nbsp;&nbsp; 6586 | 182085 |
| Volvo AB, Class B | &nbsp;&nbsp; 95544 | 2438355 |
|  |  | 27189870 |
| **Switzerland — 8.0%** | **Switzerland — 8.0%** | **Switzerland — 8.0%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 70633 | 3920598 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 22920 | 780158 |
| Alcon Inc. | &nbsp;&nbsp; 34077 | 3226565 |
| Bucher Industries AG, Registered | &nbsp;&nbsp; 6923 | 2804708 |
| Cie. Financiere Richemont SA, Class A, Registered | &nbsp;&nbsp; 39140 | 5970076 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 18255 | 999053 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 12382 | 3838304 |
| Logitech International SA, Registered | &nbsp;&nbsp; 5651 | 509020 |
| Nestle SA, Registered | &nbsp;&nbsp; 154439 | 15643527 |
| Novartis AG, Registered | &nbsp;&nbsp; 140676 | 15703356 |
| PSP Swiss Property AG, Registered | &nbsp;&nbsp; 15375 | 2054576 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 36560 | 11836643 |
| SGS SA | &nbsp;&nbsp; 54021 | 5906293 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 801 | 245535 |
| Straumann Holding AG | &nbsp;&nbsp; 5418 | 698660 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 200 | 153143 |
| Swiss Re AG | &nbsp;&nbsp; 12639 | 1558178 |
| Swisscom AG, Registered | &nbsp;&nbsp; 253 | 154847 |
| Swissquote Group Holding SA, Registered | &nbsp;&nbsp; 3429 | 1093670 |
| UBS Group AG, Registered | &nbsp;&nbsp; 281393 | 8526397 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 8952 | 4921542 |
|  |  | 90544849 |
| **United Kingdom — 13.0%** | **United Kingdom — 13.0%** | **United Kingdom — 13.0%** |
| 3i Group PLC | &nbsp;&nbsp; 98618 | 3967472 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| abrdn PLC | &nbsp;&nbsp; 63630 | $139158 |
| Anglo American PLC | &nbsp;&nbsp; 74842 | 2268934 |
| AstraZeneca PLC | &nbsp;&nbsp; 72407 | 11503356 |
| B&M European Value Retail SA | &nbsp;&nbsp; 345538 | 2080821 |
| BAE Systems PLC | &nbsp;&nbsp; 192260 | 3206532 |
| Balfour Beatty PLC | &nbsp;&nbsp; 587564 | 3181505 |
| Barclays PLC | &nbsp;&nbsp; 548085 | 1638942 |
| Barratt Developments PLC | &nbsp;&nbsp; 42423 | 287072 |
| BP PLC | &nbsp;&nbsp; 1064798 | 6294139 |
| British American Tobacco PLC | &nbsp;&nbsp; 40869 | 1450074 |
| Bunzl PLC | &nbsp;&nbsp; 9986 | 418407 |
| Burberry Group PLC | &nbsp;&nbsp; 259437 | 2596398 |
| Centrica PLC | &nbsp;&nbsp; 2176706 | 3711227 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 149134 | 5441887 |
| Compass Group PLC | &nbsp;&nbsp; 3094 | 95280 |
| Computacenter PLC | &nbsp;&nbsp; 20202 | 699515 |
| Darktrace PLC<sup>(b)</sup> | &nbsp;&nbsp; 258546 | 1966278 |
| Diageo PLC | &nbsp;&nbsp; 116922 | 3638024 |
| Drax Group PLC | &nbsp;&nbsp; 65764 | 550091 |
| Glencore PLC | &nbsp;&nbsp; 749019 | 4156185 |
| Grafton Group PLC | &nbsp;&nbsp; 154241 | 2148776 |
| Greggs PLC | &nbsp;&nbsp; 64103 | 2581529 |
| GSK PLC | &nbsp;&nbsp; 268730 | 5218409 |
| Howden Joinery Group PLC | &nbsp;&nbsp; 146354 | 1769448 |
| HSBC Holdings PLC | &nbsp;&nbsp; 730145 | 6640014 |
| IG Group Holdings PLC | &nbsp;&nbsp; 33626 | 406091 |
| IMI PLC | &nbsp;&nbsp; 95876 | 2335244 |
| Imperial Brands PLC | &nbsp;&nbsp; 23340 | 643293 |
| Inchcape PLC | &nbsp;&nbsp; 323957 | 3523176 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 13840 | 1394319 |
| Intermediate Capital Group PLC | &nbsp;&nbsp; 84548 | 2386514 |
| International Distributions Services PLC<sup>(b)</sup> | &nbsp;&nbsp; 532083 | 2360802 |
| Investec PLC | &nbsp;&nbsp; 448708 | 3552883 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 685655 | 1160022 |
| Kingfisher PLC | &nbsp;&nbsp; 683214 | 2428914 |
| Land Securities Group PLC | &nbsp;&nbsp; 53397 | 436649 |
| Legal & General Group PLC | &nbsp;&nbsp; 452816 | 1350581 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 1137656 | 869112 |
| M&G PLC | &nbsp;&nbsp; 151196 | 412863 |
| Man Group PLC/Jersey | &nbsp;&nbsp; 1189841 | 3745958 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 241261 | 1018978 |
| National Grid PLC | &nbsp;&nbsp; 196935 | 2498746 |
| Next PLC | &nbsp;&nbsp; 22374 | 2615066 |
| Pearson PLC | &nbsp;&nbsp; 85651 | 1162110 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 22282 | 1198630 |
| Rightmove PLC | &nbsp;&nbsp; 206687 | 1535654 |
| Rio Tinto PLC | &nbsp;&nbsp; 65734 | 4274872 |
| Sage Group PLC (The) | &nbsp;&nbsp; 176476 | 2466879 |
| Serco Group PLC | &nbsp;&nbsp; 129835 | 319036 |
| Shell PLC | &nbsp;&nbsp; 290707 | 10629451 |
| Softcat PLC | &nbsp;&nbsp; 44116 | 922947 |
| Spectris PLC | &nbsp;&nbsp; 4708 | 184682 |
| Tesco PLC | &nbsp;&nbsp; 895156 | 3817366 |
| Unilever PLC | &nbsp;&nbsp; 58289 | 3582132 |
| Vodafone Group PLC | &nbsp;&nbsp; 1827850 | 1710410 |
| Wise PLC, Class A<sup>(b)</sup> | &nbsp;&nbsp; 142866 | 1315451 |
| WPP PLC | &nbsp;&nbsp; 211466 | 2039817 |
|  |  | 145948121 |
| **Total Common Stocks — 98.9%** <br>**(Cost: $961,451,260)** | **Total Common Stocks — 98.9%** <br>**(Cost: $961,451,260)** | 1111849264 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.6%** | **Germany — 0.6%** | **Germany — 0.6%** |
| Dr Ing hc F Porsche AG, Preference Shares, NVS<sup>(c)</sup> | &nbsp;&nbsp; 72168 | $5434301 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 11301 | 1261225 |
|  |  | 6695526 |
| **Total Preferred Stocks — 0.6%** <br>**(Cost: $8,901,347)** | **Total Preferred Stocks — 0.6%** <br>**(Cost: $8,901,347)** | 6695526 |
| **Warrants** | **Warrants** | **Warrants** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| Constellation Software Inc., (Issued 08/29/23, 1 Share <br> for 1 Warrant, Expires 03/31/40, Strike Price <br> CAD 11.50)<sup>(d)</sup><br>| &nbsp;&nbsp; 1793 |  |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** |  |
| **Total Long-Term Investments — 99.5%** <br>**(Cost: $970,352,607)** | **Total Long-Term Investments — 99.5%** <br>**(Cost: $970,352,607)** | 1118544790 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.6%** | **Money Market Funds — 0.6%** | **Money Market Funds — 0.6%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp; 6314500 | 6317026 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(e)(f)</sup><br>| &nbsp;&nbsp; 150000 | $150000 |
| **Total Short-Term Securities — 0.6%** <br>**(Cost: $6,466,449)** | **Total Short-Term Securities — 0.6%** <br>**(Cost: $6,466,449)** | 6467026 |
| **Total Investments — 100.1%** <br>**(Cost: $976,819,056)** | **Total Investments — 100.1%** <br>**(Cost: $976,819,056)** | 1125011816 |
| **Liabilities in Excess of Other Assets — (0.1)%** | **Liabilities in Excess of Other Assets — (0.1)%** | (673926)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1124337890 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Annualized 7-day yield as of period end.

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $847379<br> $5468503 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $956 | $188 | $6317026 | 6314500 | $33650 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 120000<br> 30000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 150000 | 150000 | 33000 | &nbsp;&nbsp; — |
|  |  |  | $956 | $188 | $6467026 |  | $66650 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $1294 | &nbsp;&nbsp; $8235 |
| SPI 200 Index | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 09/19/24 | &nbsp;&nbsp; 793 | &nbsp;&nbsp; 34855 |
| Euro STOXX 50 Index | &nbsp;&nbsp; 37 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 1962 | &nbsp;&nbsp; (10063)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 1290 | &nbsp;&nbsp; 22670 |
|  |  |  |  | &nbsp;&nbsp; $55697 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Equity Factor ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $65760 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $65760 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $10063 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $10063 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $775538 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $775538 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(107663)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(107663)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $6808273 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $89570913 | &nbsp;&nbsp; $1022278351 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1111849264 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 6695526 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6695526 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 6467026 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6467026 |
|  | &nbsp;&nbsp; $96037939 | &nbsp;&nbsp; $1028973877 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1125011816 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $65760 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $65760 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Equity Factor ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(10063)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(10063)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $55697 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $55697 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 7.0%** | **Australia — 7.0%** | **Australia — 7.0%** |
| Accent Group Ltd. | &nbsp;&nbsp; 134145 | $192590 |
| Adairs Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 349140 | 501596 |
| Alkane Resources Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 136620 | 39037 |
| Amotiv Ltd. | &nbsp;&nbsp; 31358 | 222696 |
| AMP Ltd. | &nbsp;&nbsp; 126885 | 98570 |
| Ansell Ltd. | &nbsp;&nbsp; 3135 | 56129 |
| APM Human Services International Ltd. | &nbsp;&nbsp; 527003 | 492202 |
| ARN Media Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 195360 | 87254 |
| BWP Trust | &nbsp;&nbsp; 109065 | 255837 |
| Cettire Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 757680 | 660112 |
| Champion Iron Ltd. | &nbsp;&nbsp; 56595 | 232564 |
| Clinuvel Pharmaceuticals Ltd. | &nbsp;&nbsp; 21450 | 210024 |
| Coast Entertainment Holdings Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 1328580 | 438757 |
| Collins Foods Ltd. | &nbsp;&nbsp; 54285 | 326226 |
| Data#3 Ltd. | &nbsp;&nbsp; 65835 | 380993 |
| Deterra Royalties Ltd. | &nbsp;&nbsp; 402435 | 1052158 |
| Domain Holdings Australia Ltd. | &nbsp;&nbsp; 263505 | 556269 |
| Domino's Pizza Enterprises Ltd. | &nbsp;&nbsp; 3465 | 74526 |
| Downer EDI Ltd. | &nbsp;&nbsp; 135630 | 442699 |
| Eagers Automotive Ltd. | &nbsp;&nbsp; 12540 | 87424 |
| Elanor Commercial Property Fund<sup>(a)</sup> | &nbsp;&nbsp; 718905 | 314986 |
| Elders Ltd. | &nbsp;&nbsp; 46035 | 286927 |
| FleetPartners Group Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 404415 | 905137 |
| GR Engineering Services Ltd. | &nbsp;&nbsp; 373560 | 482507 |
| GrainCorp Ltd., Class A | &nbsp;&nbsp; 308715 | 1824017 |
| Growthpoint Properties Australia Ltd. | &nbsp;&nbsp; 81675 | 124792 |
| GWA Group Ltd. | &nbsp;&nbsp; 503085 | 875351 |
| Healius Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1238985 | 1225773 |
| Helia Group Ltd. | &nbsp;&nbsp; 525360 | 1372957 |
| HomeCo Daily Needs REIT | &nbsp;&nbsp; 632704 | 527285 |
| Iluka Resources Ltd. | &nbsp;&nbsp; 170775 | 679405 |
| Inghams Group Ltd. | &nbsp;&nbsp; 308055 | 759446 |
| Jumbo Interactive Ltd. | &nbsp;&nbsp; 10725 | 114761 |
| Karoon Energy Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 299970 | 363762 |
| Kogan.com Ltd. | &nbsp;&nbsp; 56925 | 168427 |
| Lovisa Holdings Ltd. | &nbsp;&nbsp; 9900 | 227039 |
| Macmahon Holdings Ltd. | &nbsp;&nbsp; 4309470 | 789090 |
| McMillan Shakespeare Ltd. | &nbsp;&nbsp; 88110 | 1033949 |
| Metcash Ltd. | &nbsp;&nbsp; 220441 | 528061 |
| Meteoric Resources NL<sup>(a)(b)</sup> | &nbsp;&nbsp; 464145 | 30600 |
| Mount Gibson Iron Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2134110 | 496789 |
| Myer Holdings Ltd. | &nbsp;&nbsp; 2003595 | 1093437 |
| Neuren Pharmaceuticals Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 41250 | 522840 |
| New Hope Corp. Ltd. | &nbsp;&nbsp; 298650 | 952451 |
| nib holdings Ltd. | &nbsp;&nbsp; 24585 | 121050 |
| Nick Scali Ltd. | &nbsp;&nbsp; 80850 | 833154 |
| Nine Entertainment Co. Holdings Ltd. | &nbsp;&nbsp; 352110 | 335330 |
| NRW Holdings Ltd. | &nbsp;&nbsp; 464805 | 1017984 |
| OFX Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 116160 | 175474 |
| Orora Ltd. | &nbsp;&nbsp; 231825 | 310192 |
| Perenti Ltd. | &nbsp;&nbsp; 286110 | 196973 |
| Perseus Mining Ltd. | &nbsp;&nbsp; 98010 | 163303 |
| PEXA Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 75900 | 688745 |
| Playside Studios Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 241725 | 118878 |
| PolyNovo Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 122265 | 215557 |
| Region RE Ltd. | &nbsp;&nbsp; 250965 | 373690 |
| Regis Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 87945 | 97035 |
| Reliance Worldwide Corp. Ltd. | &nbsp;&nbsp; 55110 | 185766 |
| RPMGlobal Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 228030 | 411036 |
| Sandfire Resources Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 282150 | 1611536 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
| Sigma Healthcare Ltd. | &nbsp;&nbsp; 379500 | $323342 |
| Sims Ltd. | &nbsp;&nbsp; 149490 | 998063 |
| Southern Cross Media Group Ltd. | &nbsp;&nbsp; 757020 | 329210 |
| Stanmore Resources Ltd. | &nbsp;&nbsp; 413655 | 1007237 |
| Steadfast Group Ltd. | &nbsp;&nbsp; 114345 | 485382 |
| Super Retail Group Ltd. | &nbsp;&nbsp; 139920 | 1465761 |
| Tabcorp Holdings Ltd. | &nbsp;&nbsp; 2818860 | 1192712 |
| Telix Pharmaceuticals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 91575 | 1149630 |
| Temple & Webster Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 9405 | 60213 |
| Terracom Ltd. | &nbsp;&nbsp; 2527635 | 323779 |
| Tuas Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 198000 | 582926 |
| Ventia Services Group Pty Ltd. | &nbsp;&nbsp; 328350 | 945335 |
| Waypoint REIT Ltd. | &nbsp;&nbsp; 569745 | 946247 |
|  |  | 38772992 |
| **Austria — 0.4%** | **Austria — 0.4%** | **Austria — 0.4%** |
| Immofinanz AG<sup>(b)</sup> | &nbsp;&nbsp; 11880 | 352471 |
| Oesterreichische Post AG | &nbsp;&nbsp; 9405 | 310446 |
| Porr AG | &nbsp;&nbsp; 58410 | 888932 |
| Semperit AG Holding | &nbsp;&nbsp; 12870 | 149314 |
| Zumtobel Group AG | &nbsp;&nbsp; 43725 | 268785 |
|  |  | 1969948 |
| **Belgium — 0.7%** | **Belgium — 0.7%** | **Belgium — 0.7%** |
| Bekaert SA | &nbsp;&nbsp; 10395 | 425641 |
| bpost SA | &nbsp;&nbsp; 150315 | 429471 |
| Deceuninck NV | &nbsp;&nbsp; 22440 | 59913 |
| Deme Group NV | &nbsp;&nbsp; 1485 | 267464 |
| Fluxys Belgium SA | &nbsp;&nbsp; 9405 | 158615 |
| Ion Beam Applications<sup>(a)</sup> | &nbsp;&nbsp; 61215 | 849324 |
| Proximus SADP | &nbsp;&nbsp; 70950 | 513119 |
| Solvay SA | &nbsp;&nbsp; 33495 | 1179175 |
|  |  | 3882722 |
| **Canada — 9.8%** | **Canada — 9.8%** | **Canada — 9.8%** |
| ADENTRA Inc. | &nbsp;&nbsp; 4290 | 135693 |
| Advantage Energy Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 36795 | 256644 |
| AGF Management Ltd., Class B, NVS | &nbsp;&nbsp; 41085 | 244608 |
| Alamos Gold Inc., Class A | &nbsp;&nbsp; 12375 | 210903 |
| Andlauer Healthcare Group Inc. | &nbsp;&nbsp; 12540 | 371845 |
| Artis REIT | &nbsp;&nbsp; 119790 | 584786 |
| Atco Ltd., Class I, NVS | &nbsp;&nbsp; 18645 | 578398 |
| AtkinsRealis Group Inc. | &nbsp;&nbsp; 14025 | 604213 |
| ATS Corp.<sup>(b)</sup> | &nbsp;&nbsp; 15840 | 476009 |
| AutoCanada Inc.<sup>(b)</sup> | &nbsp;&nbsp; 6270 | 87285 |
| Baytex Energy Corp. | &nbsp;&nbsp; 185625 | 689716 |
| Bird Construction Inc. | &nbsp;&nbsp; 18480 | 346538 |
| BlackBerry Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 92565 | 223258 |
| Boardwalk REIT | &nbsp;&nbsp; 9405 | 531337 |
| Bombardier Inc., Class B<sup>(b)</sup> | &nbsp;&nbsp; 7755 | 523385 |
| BRP Inc. | &nbsp;&nbsp; 17490 | 1267175 |
| Canacol Energy Ltd. | &nbsp;&nbsp; 25355 | 80988 |
| Canfor Corp.<sup>(b)</sup> | &nbsp;&nbsp; 62700 | 719348 |
| Capital Power Corp. | &nbsp;&nbsp; 12375 | 382458 |
| Cascades Inc. | &nbsp;&nbsp; 74910 | 527921 |
| Celestica Inc., NVS<sup>(b)</sup> | &nbsp;&nbsp; 49170 | 2578785 |
| Centerra Gold Inc. | &nbsp;&nbsp; 95700 | 641859 |
| Chemtrade Logistics Income Fund | &nbsp;&nbsp; 78375 | 536446 |
| Choice Properties REIT | &nbsp;&nbsp; 19140 | 192142 |
| CI Financial Corp. | &nbsp;&nbsp; 158400 | 1914820 |
| Cogeco Communications Inc. | &nbsp;&nbsp; 8910 | 408505 |
| Cogeco Inc. | &nbsp;&nbsp; 13200 | 523067 |
| Colliers International Group Inc. | &nbsp;&nbsp; 7784 | 1049049 |
| Computer Modelling Group Ltd. | &nbsp;&nbsp; 21120 | 212018 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Corus Entertainment Inc., Class B, NVS | &nbsp;&nbsp; 494435 | $37602 |
| CT REIT | &nbsp;&nbsp; 185460 | 1934324 |
| Definity Financial Corp. | &nbsp;&nbsp; 34155 | 1187935 |
| Docebo Inc.<sup>(b)</sup> | &nbsp;&nbsp; 26235 | 1047386 |
| Dream Office REIT, NVS<sup>(a)</sup> | &nbsp;&nbsp; 28631 | 388410 |
| Dundee Precious Metals Inc. | &nbsp;&nbsp; 79695 | 673625 |
| Eldorado Gold Corp.<sup>(b)</sup> | &nbsp;&nbsp; 32670 | 553945 |
| Ensign Energy Services Inc.<sup>(b)</sup> | &nbsp;&nbsp; 193380 | 359966 |
| EQB Inc. | &nbsp;&nbsp; 5280 | 368546 |
| Filo Corp., NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 29700 | 687296 |
| Finning International Inc. | &nbsp;&nbsp; 67485 | 1934148 |
| First Capital Real Estate Investment Trust | &nbsp;&nbsp; 49500 | 586908 |
| Frontera Energy Corp. | &nbsp;&nbsp; 94380 | 531150 |
| Gibson Energy Inc. | &nbsp;&nbsp; 38445 | 628196 |
| H&R Real Estate Investment Trust | &nbsp;&nbsp; 49170 | 342247 |
| Hammond Power Solutions Inc.<sup>(a)</sup> | &nbsp;&nbsp; 8415 | 727372 |
| Hudbay Minerals Inc. | &nbsp;&nbsp; 17490 | 145935 |
| IAMGOLD Corp.<sup>(b)</sup> | &nbsp;&nbsp; 44880 | 184962 |
| Interfor Corp.<sup>(b)</sup> | &nbsp;&nbsp; 72105 | 946846 |
| Kinaxis Inc.<sup>(b)</sup> | &nbsp;&nbsp; 4785 | 588694 |
| Labrador Iron Ore Royalty Corp. | &nbsp;&nbsp; 32010 | 711308 |
| Lassonde Industries Inc. | &nbsp;&nbsp; 1485 | 161337 |
| Leon's Furniture Ltd. | &nbsp;&nbsp; 29205 | 579594 |
| Linamar Corp. | &nbsp;&nbsp; 8415 | 419760 |
| Major Drilling Group International Inc.<sup>(b)</sup> | &nbsp;&nbsp; 143220 | 978209 |
| Martinrea International Inc. | &nbsp;&nbsp; 54450 | 448804 |
| Mattr Corp., NVS<sup>(b)</sup> | &nbsp;&nbsp; 35475 | 450937 |
| MEG Energy Corp.<sup>(b)</sup> | &nbsp;&nbsp; 62370 | 1292439 |
| Methanex Corp. | &nbsp;&nbsp; 13860 | 673801 |
| Morguard Corp. | &nbsp;&nbsp; 660 | 53368 |
| Morguard North American Residential REIT | &nbsp;&nbsp; 4785 | 57705 |
| Mullen Group Ltd. | &nbsp;&nbsp; 25080 | 271572 |
| New Gold Inc.<sup>(b)</sup> | &nbsp;&nbsp; 180675 | 417451 |
| North West Co. Inc. (The) | &nbsp;&nbsp; 9570 | 309908 |
| Nuvei Corp.<sup>(c)</sup> | &nbsp;&nbsp; 3795 | 125396 |
| Parex Resources Inc. | &nbsp;&nbsp; 10725 | 160877 |
| Parkland Corp. | &nbsp;&nbsp; 16995 | 476744 |
| Pason Systems Inc. | &nbsp;&nbsp; 100485 | 1190696 |
| Peyto Exploration & Development Corp. | &nbsp;&nbsp; 10395 | 111129 |
| PHX Energy Services Corp. | &nbsp;&nbsp; 26565 | 203377 |
| PrairieSky Royalty Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 38115 | 766082 |
| Precision Drilling Corp.<sup>(b)</sup> | &nbsp;&nbsp; 12705 | 977456 |
| Primo Water Corp. | &nbsp;&nbsp; 14190 | 311187 |
| Prinmaris REIT | &nbsp;&nbsp; 46695 | 460642 |
| Quebecor Inc., Class B | &nbsp;&nbsp; 2145 | 47385 |
| Real Matters Inc.<sup>(b)</sup> | &nbsp;&nbsp; 106920 | 590106 |
| Russel Metals Inc. | &nbsp;&nbsp; 38610 | 1122519 |
| Silvercorp Metals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 20295 | 75262 |
| Spin Master Corp.<sup>(c)</sup> | &nbsp;&nbsp; 29865 | 683760 |
| Sprott Inc. | &nbsp;&nbsp; 1980 | 88241 |
| Stelco Holdings Inc. | &nbsp;&nbsp; 35970 | 1731218 |
| Stella-Jones Inc. | &nbsp;&nbsp; 825 | 55506 |
| Superior Plus Corp. | &nbsp;&nbsp; 30525 | 176431 |
| Torex Gold Resources Inc.<sup>(b)</sup> | &nbsp;&nbsp; 40755 | 646164 |
| TransAlta Corp. | &nbsp;&nbsp; 155265 | 1169562 |
| Transcontinental Inc., Class A | &nbsp;&nbsp; 53295 | 629203 |
| Trican Well Service Ltd. | &nbsp;&nbsp; 405240 | 1479310 |
| Valeura Energy Inc.<sup>(b)</sup> | &nbsp;&nbsp; 52140 | 167298 |
| Veren Inc. | &nbsp;&nbsp; 223410 | 1744367 |
| Vermilion Energy Inc. | &nbsp;&nbsp; 43230 | 464973 |
| Westshore Terminals Investment Corp.<sup>(a)</sup> | &nbsp;&nbsp; 38280 | 641859 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Whitecap Resources Inc. | &nbsp;&nbsp; 125235 | $965125 |
|  |  | 54842760 |
| **China — 0.5%** | **China — 0.5%** | **China — 0.5%** |
| China Minsheng Financial Holding Corp. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 13200000 | 96303 |
| China Renaissance Holdings Ltd.<sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp; 203500 | 107889 |
| Mobvista Inc.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 660000 | 162000 |
| NetDragon Websoft Holdings Ltd. | &nbsp;&nbsp; 412500 | 578926 |
| Skyworth Group Ltd. | &nbsp;&nbsp; 1650000 | 598567 |
| Sprocomm Intelligence Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 330000 | 118267 |
| Wasion Holdings Ltd. | &nbsp;&nbsp; 1650000 | 1341309 |
|  |  | 3003261 |
| **Denmark — 2.0%** | **Denmark — 2.0%** | **Denmark — 2.0%** |
| Ascendis Pharma A/S, ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 990 | 132165 |
| Bavarian Nordic A/S<sup>(b)</sup> | &nbsp;&nbsp; 2475 | 66710 |
| Chemometec A/S | &nbsp;&nbsp; 10065 | 557987 |
| D/S Norden A/S | &nbsp;&nbsp; 9900 | 428249 |
| GN Store Nord A/S<sup>(b)</sup> | &nbsp;&nbsp; 33000 | 867148 |
| ISS A/S | &nbsp;&nbsp; 82830 | 1514013 |
| Jyske Bank A/S, Registered | &nbsp;&nbsp; 4950 | 403538 |
| Nilfisk Holding A/S<sup>(b)</sup> | &nbsp;&nbsp; 8085 | 150647 |
| NKT A/S<sup>(b)</sup> | &nbsp;&nbsp; 3795 | 341618 |
| Per Aarsleff Holding A/S | &nbsp;&nbsp; 25080 | 1434878 |
| Ringkjoebing Landbobank A/S | &nbsp;&nbsp; 3300 | 584080 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 1155 | 510525 |
| Royal Unibrew A/S<sup>(b)</sup> | &nbsp;&nbsp; 7920 | 621824 |
| Scandinavian Tobacco Group A/S, Class A<sup>(c)</sup> | &nbsp;&nbsp; 54120 | 792720 |
| Solar A/S, Class B | &nbsp;&nbsp; 18810 | 890871 |
| Sydbank A/S | &nbsp;&nbsp; 28050 | 1512239 |
| Topdanmark A/S | &nbsp;&nbsp; 6600 | 359509 |
| Zealand Pharma A/S<sup>(b)</sup> | &nbsp;&nbsp; 660 | 88916 |
|  |  | 11257637 |
| **Finland — 1.3%** | **Finland — 1.3%** | **Finland — 1.3%** |
| Cargotec OYJ, Class B | &nbsp;&nbsp; 7095 | 361651 |
| Harvia OYJ | &nbsp;&nbsp; 6435 | 276921 |
| Kemira OYJ | &nbsp;&nbsp; 49335 | 1115909 |
| Konecranes OYJ | &nbsp;&nbsp; 20130 | 1406147 |
| Lindex Group OYJ<sup>(b)</sup> | &nbsp;&nbsp; 25245 | 78524 |
| Marimekko OYJ | &nbsp;&nbsp; 69300 | 1025999 |
| Nokian Renkaat OYJ | &nbsp;&nbsp; 51975 | 474233 |
| Oma Saastopankki OYJ | &nbsp;&nbsp; 24420 | 366828 |
| Outokumpu OYJ | &nbsp;&nbsp; 137445 | 495559 |
| Puuilo OYJ | &nbsp;&nbsp; 8580 | 94235 |
| QT Group OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 5115 | 455182 |
| Sanoma OYJ | &nbsp;&nbsp; 79035 | 584208 |
| TietoEVRY OYJ | &nbsp;&nbsp; 9405 | 190718 |
| YIT OYJ | &nbsp;&nbsp; 80025 | 200919 |
|  |  | 7127033 |
| **France — 5.0%** | **France — 5.0%** | **France — 5.0%** |
| Abivax SA, NVS<sup>(b)</sup> | &nbsp;&nbsp; 7095 | 84420 |
| Alten SA | &nbsp;&nbsp; 1815 | 199617 |
| Ayvens SA<sup>(c)</sup> | &nbsp;&nbsp; 36135 | 239207 |
| Beneteau SACA<sup>(a)</sup> | &nbsp;&nbsp; 41250 | 402155 |
| Carmila SA | &nbsp;&nbsp; 11055 | 199673 |
| Cie. des Alpes | &nbsp;&nbsp; 24420 | 349662 |
| Coface SA | &nbsp;&nbsp; 84645 | 1281487 |
| Derichebourg SA | &nbsp;&nbsp; 231660 | 1192953 |
| Elis SA | &nbsp;&nbsp; 3960 | 91576 |
| Eramet SA | &nbsp;&nbsp; 6270 | 532568 |
| Eurazeo SE | &nbsp;&nbsp; 12045 | 947643 |
| Euronext NV<sup>(c)</sup> | &nbsp;&nbsp; 12045 | 1217785 |
| Eutelsat Communications SACA<sup>(a)(b)</sup> | &nbsp;&nbsp; 114510 | 591815 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Gaztransport Et Technigaz SA | &nbsp;&nbsp; 8745 | $1288533 |
| Gecina SA | &nbsp;&nbsp; 13365 | 1324976 |
| ICADE | &nbsp;&nbsp; 20460 | 454742 |
| Interparfums SA | &nbsp;&nbsp; 13649 | 693611 |
| IPSOS SA | &nbsp;&nbsp; 18480 | 1140533 |
| Kaufman & Broad SA | &nbsp;&nbsp; 14520 | 496564 |
| Klepierre SA | &nbsp;&nbsp; 62865 | 1800112 |
| La Francaise des Jeux SAEM<sup>(c)</sup> | &nbsp;&nbsp; 49335 | 1914135 |
| Lagardere SA | &nbsp;&nbsp; 3960 | 96428 |
| Maisons du Monde SA<sup>(c)</sup> | &nbsp;&nbsp; 61215 | 242840 |
| Mercialys SA | &nbsp;&nbsp; 72270 | 915730 |
| Mersen SA | &nbsp;&nbsp; 3465 | 120106 |
| Nexans SA | &nbsp;&nbsp; 5775 | 746397 |
| Quadient SA | &nbsp;&nbsp; 33495 | 664436 |
| Renault SA | &nbsp;&nbsp; 46365 | 2246947 |
| Rexel SA | &nbsp;&nbsp; 55110 | 1400174 |
| SCOR SE | &nbsp;&nbsp; 25905 | 554426 |
| SOITEC<sup>(a)(b)</sup> | &nbsp;&nbsp; 3300 | 425474 |
| Sopra Steria Group SACA | &nbsp;&nbsp; 495 | 91751 |
| SPIE SA | &nbsp;&nbsp; 13200 | 510245 |
| Technip Energies NV | &nbsp;&nbsp; 14190 | 361511 |
| Television Francaise 1 SA | &nbsp;&nbsp; 149325 | 1313940 |
| Trigano SA | &nbsp;&nbsp; 5445 | 638444 |
| Ubisoft Entertainment SA<sup>(b)</sup> | &nbsp;&nbsp; 2310 | 47455 |
| Verallia SA<sup>(c)</sup> | &nbsp;&nbsp; 10395 | 305773 |
| Virbac SACA | &nbsp;&nbsp; 825 | 314056 |
| Wavestone | &nbsp;&nbsp; 6435 | 373831 |
| Wendel SE | &nbsp;&nbsp; 1650 | 158089 |
|  |  | 27971820 |
| **Germany — 4.1%** | **Germany — 4.1%** | **Germany — 4.1%** |
| AIXTRON SE<sup>(a)</sup> | &nbsp;&nbsp; 21450 | 500848 |
| Amadeus Fire AG | &nbsp;&nbsp; 4455 | 457778 |
| Atoss Software SE | &nbsp;&nbsp; 7920 | 1167532 |
| Aurubis AG | &nbsp;&nbsp; 16500 | 1286756 |
| Bechtle AG | &nbsp;&nbsp; 8580 | 379181 |
| BRANICKS Group AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 88770 | 205762 |
| Ceconomy AG<sup>(b)</sup> | &nbsp;&nbsp; 218955 | 660410 |
| Covestro AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 8745 | 514808 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 2640 | 232541 |
| Delivery Hero SE, Class A<sup>(b)(c)</sup> | &nbsp;&nbsp; 19140 | 425830 |
| Dermapharm Holding SE | &nbsp;&nbsp; 5775 | 221221 |
| Deutsche Pfandbriefbank AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 154275 | 870636 |
| Deutz AG | &nbsp;&nbsp; 56430 | 325020 |
| Duerr AG | &nbsp;&nbsp; 12375 | 272183 |
| DWS Group GmbH & Co. KGaA<sup>(c)</sup> | &nbsp;&nbsp; 1815 | 68637 |
| Elmos Semiconductor SE | &nbsp;&nbsp; 2475 | 202308 |
| flatexDEGIRO AG | &nbsp;&nbsp; 40260 | 568537 |
| Freenet AG | &nbsp;&nbsp; 40425 | 1118644 |
| GEA Group AG | &nbsp;&nbsp; 24585 | 1085562 |
| Gerresheimer AG | &nbsp;&nbsp; 1320 | 136471 |
| GFT Technologies SE | &nbsp;&nbsp; 1650 | 42371 |
| Heidelberger Druckmaschinen AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 127710 | 155898 |
| Hugo Boss AG<sup>(a)</sup> | &nbsp;&nbsp; 21120 | 839319 |
| K+S AG, Registered<sup>(a)</sup> | &nbsp;&nbsp; 20295 | 261453 |
| Kloeckner & Co. SE | &nbsp;&nbsp; 165495 | 913033 |
| Krones AG | &nbsp;&nbsp; 6105 | 825970 |
| MLP SE | &nbsp;&nbsp; 16500 | 104713 |
| Mutares SE & Co. KGaA | &nbsp;&nbsp; 7590 | 262707 |
| Nemetschek SE | &nbsp;&nbsp; 10560 | 1008650 |
| New Work SE | &nbsp;&nbsp; 1320 | 94286 |
| Patrizia SE | &nbsp;&nbsp; 37950 | 298950 |
| ProSiebenSat.1 Media SE<sup>(a)</sup> | &nbsp;&nbsp; 34815 | 238843 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Puma SE | &nbsp;&nbsp; 6765 | $335700 |
| PVA TePla AG<sup>(b)</sup> | &nbsp;&nbsp; 19470 | 304188 |
| Rational AG | &nbsp;&nbsp; 214 | 187331 |
| SAF-Holland SE | &nbsp;&nbsp; 30525 | 624450 |
| Salzgitter AG | &nbsp;&nbsp; 69960 | 1254396 |
| Scout24 SE<sup>(c)</sup> | &nbsp;&nbsp; 15015 | 1187047 |
| SGL Carbon SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 33165 | 222741 |
| TAG Immobilien AG<sup>(b)</sup> | &nbsp;&nbsp; 13860 | 208811 |
| Takkt AG | &nbsp;&nbsp; 22935 | 265589 |
| TeamViewer SE<sup>(b)(c)</sup> | &nbsp;&nbsp; 28875 | 389435 |
| United Internet AG, Registered<sup>(e)</sup> | &nbsp;&nbsp; 12375 | 274468 |
| Wacker Chemie AG | &nbsp;&nbsp; 5445 | 544222 |
| Zalando SE<sup>(b)(c)</sup> | &nbsp;&nbsp; 50820 | 1302226 |
|  |  | 22847462 |
| **Hong Kong — 1.6%** | **Hong Kong — 1.6%** | **Hong Kong — 1.6%** |
| Champion REIT | &nbsp;&nbsp; 990000 | 201121 |
| Chinese Estates Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 990000 | 160927 |
| CK Life Sciences International Holdings Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 4290000 | 186631 |
| DL Holdings Group Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 165000 | 93385 |
| EVA Precision Industrial Holdings Ltd. | &nbsp;&nbsp; 3630000 | 315493 |
| First Pacific Co. Ltd. | &nbsp;&nbsp; 4290000 | 1909396 |
| Giordano International Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3960000 | 800754 |
| Golden Resources Development International Ltd. | &nbsp;&nbsp; 1980000 | 104916 |
| HKBN Ltd. | &nbsp;&nbsp; 825000 | 261317 |
| Hong Kong Technology Venture Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1980000 | 451459 |
| IGG Inc.<sup>(b)</sup> | &nbsp;&nbsp; 990000 | 358402 |
| Johnson Electric Holdings Ltd. | &nbsp;&nbsp; 165000 | 228128 |
| JS Global Lifestyle Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 495000 | 98940 |
| Modern Dental Group Ltd. | &nbsp;&nbsp; 330000 | 180893 |
| PAX Global Technology Ltd. | &nbsp;&nbsp; 330000 | 185161 |
| PC Partner Group Ltd. | &nbsp;&nbsp; 660000 | 355809 |
| Singamas Container Holdings Ltd. | &nbsp;&nbsp; 1320000 | 126714 |
| Solomon Systech International Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 2640000 | 96416 |
| Sun Hung Kai & Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 495000 | 170403 |
| Tam Jai International Co. Ltd. | &nbsp;&nbsp; 825000 | 106728 |
| Texwinca Holdings Ltd. | &nbsp;&nbsp; 2310000 | 277836 |
| United Laboratories International Holdings Ltd. (The) | &nbsp;&nbsp; 660000 | 758190 |
| Valuetronics Holdings Ltd. | &nbsp;&nbsp; 1056000 | 509612 |
| VTech Holdings Ltd. | &nbsp;&nbsp; 132000 | 868437 |
|  |  | 8807068 |
| **Ireland — 0.7%** | **Ireland — 0.7%** | **Ireland — 0.7%** |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 273900 | 3101900 |
| Glanbia PLC | &nbsp;&nbsp; 22322 | 446681 |
| Glenveagh Properties PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 196515 | 292645 |
|  |  | 3841226 |
| **Israel — 0.9%** | **Israel — 0.9%** | **Israel — 0.9%** |
| Africa Israel Residences Ltd. | &nbsp;&nbsp; 3465 | 203536 |
| Altshuler Shaham Finance Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 58245 | 70626 |
| Delek Automotive Systems Ltd. | &nbsp;&nbsp; 82170 | 449962 |
| Elco Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2310 | 65861 |
| Electra Consumer Products 1970 Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 4950 | 95552 |
| Equital Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2 | 47 |
| G City Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 175395 | 485765 |
| Ilex Medical Ltd. | &nbsp;&nbsp; 6435 | 119059 |
| Migdal Insurance & Financial Holdings Ltd. | &nbsp;&nbsp; 225720 | 267868 |
| Naphtha Israel Petroleum Corp. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 81778 | 455356 |
| Oil Refineries Ltd. | &nbsp;&nbsp; 819885 | 197150 |
| Partner Communications Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 38280 | 157964 |
| Paz Oil Co. Ltd. | &nbsp;&nbsp; 4620 | 436543 |
| Property & Building Corp. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 8415 | 409261 |
| Retailors Ltd. | &nbsp;&nbsp; 46892 | 725215 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Israel (continued)** | **Israel (continued)** | **Israel (continued)** |
| Scope Metals Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 8910 | $258197 |
| Tamar Petroleum Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 22275 | 112502 |
| Tel Aviv Stock Exchange Ltd. | &nbsp;&nbsp; 53460 | 424698 |
| Telsys Ltd. | &nbsp;&nbsp; 3465 | 172298 |
|  |  | 5107460 |
| **Italy — 3.3%** | **Italy — 3.3%** | **Italy — 3.3%** |
| A2A SpA | &nbsp;&nbsp; 796290 | 1686598 |
| ACEA SpA | &nbsp;&nbsp; 76725 | 1331139 |
| Banca Generali SpA | &nbsp;&nbsp; 11055 | 481075 |
| Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp; 184470 | 1006627 |
| Banca Popolare di Sondrio SpA | &nbsp;&nbsp; 14355 | 109401 |
| BPER Banca SpA | &nbsp;&nbsp; 312015 | 1825610 |
| Cembre SpA | &nbsp;&nbsp; 9240 | 360500 |
| Credito Emiliano SpA | &nbsp;&nbsp; 11880 | 130046 |
| d'Amico International Shipping SA, NVS | &nbsp;&nbsp; 113355 | 857538 |
| Danieli & C Officine Meccaniche SpA | &nbsp;&nbsp; 6930 | 270000 |
| De' Longhi SpA | &nbsp;&nbsp; 11055 | 348457 |
| Enav SpA<sup>(c)</sup> | &nbsp;&nbsp; 183975 | 786900 |
| ERG SpA | &nbsp;&nbsp; 12210 | 323756 |
| Hera SpA | &nbsp;&nbsp; 50985 | 186554 |
| Immobiliare Grande Distribuzione SIIQ SpA<sup>(b)</sup> | &nbsp;&nbsp; 72600 | 158839 |
| Iren SpA | &nbsp;&nbsp; 199815 | 406593 |
| Italgas SpA | &nbsp;&nbsp; 95535 | 510841 |
| Iveco Group NV | &nbsp;&nbsp; 43230 | 443934 |
| MFE-MediaForEurope NV, NVS | &nbsp;&nbsp; 140580 | 652388 |
| Moltiply Group SpA<sup>(a)</sup> | &nbsp;&nbsp; 10560 | 417841 |
| OVS SpA<sup>(c)</sup> | &nbsp;&nbsp; 214005 | 605395 |
| Piaggio & C SpA | &nbsp;&nbsp; 377520 | 1039917 |
| Pirelli & C SpA<sup>(c)</sup> | &nbsp;&nbsp; 8250 | 51647 |
| RAI Way SpA<sup>(c)</sup> | &nbsp;&nbsp; 45540 | 245443 |
| Reply SpA | &nbsp;&nbsp; 4125 | 585526 |
| Safilo Group SpA<sup>(b)</sup> | &nbsp;&nbsp; 137775 | 155668 |
| Saipem SpA<sup>(b)</sup> | &nbsp;&nbsp; 32175 | 76436 |
| Sanlorenzo SpA/Ameglia | &nbsp;&nbsp; 11055 | 450107 |
| Sesa SpA<sup>(a)</sup> | &nbsp;&nbsp; 1485 | 163180 |
| SOL SpA | &nbsp;&nbsp; 20460 | 765062 |
| Technogym SpA<sup>(c)</sup> | &nbsp;&nbsp; 26565 | 260535 |
| TXT e-Solutions SpA | &nbsp;&nbsp; 6930 | 197488 |
| Unieuro SpA<sup>(c)</sup> | &nbsp;&nbsp; 18810 | 233519 |
| Unipol Gruppo SpA | &nbsp;&nbsp; 122100 | 1315549 |
|  |  | 18440109 |
| **Japan — 26.1%** | **Japan — 26.1%** | **Japan — 26.1%** |
| 77 Bank Ltd. (The) | &nbsp;&nbsp; 49500 | 1545349 |
| A&D HOLON Holdings Co. Ltd. | &nbsp;&nbsp; 33000 | 611366 |
| Adastria Co. Ltd. | &nbsp;&nbsp; 16500 | 367280 |
| ADEKA Corp. | &nbsp;&nbsp; 33000 | 700585 |
| Aichi Corp. | &nbsp;&nbsp; 115500 | 973534 |
| Aizawa Securities Group Co. Ltd. | &nbsp;&nbsp; 33000 | 524047 |
| Alpen Co. Ltd. | &nbsp;&nbsp; 16500 | 242699 |
| Amano Corp. | &nbsp;&nbsp; 33000 | 836617 |
| Amiyaki Tei Co. Ltd. | &nbsp;&nbsp; 16500 | 608509 |
| Aoyama Trading Co. Ltd. | &nbsp;&nbsp; 33000 | 337742 |
| Aozora Bank Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 16500 | 274305 |
| Arata Corp. | &nbsp;&nbsp; 15600 | 371599 |
| ARE Holdings Inc. | &nbsp;&nbsp; 16500 | 225751 |
| Artience Co. Ltd. | &nbsp;&nbsp; 16500 | 348911 |
| Artner Co. Ltd. | &nbsp;&nbsp; 33000 | 411790 |
| Asahi Yukizai Corp. | &nbsp;&nbsp; 39300 | 1257888 |
| Aska Pharmaceutical Holdings Co. Ltd. | &nbsp;&nbsp; 16500 | 259165 |
| ASKUL Corp. | &nbsp;&nbsp; 33000 | 466381 |
| BML Inc. | &nbsp;&nbsp; 10300 | 205481 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Careerlink Co. Ltd. | &nbsp;&nbsp; 16500 | $270211 |
| Central Automotive Products Ltd. | &nbsp;&nbsp; 16500 | 545459 |
| Chikaranomoto Holdings Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 33000 | 311947 |
| Chugoku Marine Paints Ltd. | &nbsp;&nbsp; 66000 | 913076 |
| Citizen Watch Co. Ltd. | &nbsp;&nbsp; 33000 | 222518 |
| CKD Corp. | &nbsp;&nbsp; 16500 | 329532 |
| Colowide Co. Ltd. | &nbsp;&nbsp; 16500 | 227133 |
| Cosel Co. Ltd. | &nbsp;&nbsp; 49500 | 404885 |
| Cybozu Inc. | &nbsp;&nbsp; 33000 | 399135 |
| Daicel Corp. | &nbsp;&nbsp; 49500 | 481179 |
| Daido Steel Co. Ltd. | &nbsp;&nbsp; 20400 | 204112 |
| Daidoh Ltd. | &nbsp;&nbsp; 66000 | 383739 |
| Daihen Corp. | &nbsp;&nbsp; 4700 | 230646 |
| Daiwa Industries Ltd. | &nbsp;&nbsp; 49500 | 521202 |
| Daiwa Securities Living Investments Corp. | &nbsp;&nbsp; 495 | 336708 |
| Daiwabo Holdings Co. Ltd. | &nbsp;&nbsp; 33000 | 621841 |
| DD GROUP Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 16500 | 156978 |
| Dentsu Soken Inc. | &nbsp;&nbsp; 38400 | 1459789 |
| Dexerials Corp. | &nbsp;&nbsp; 16500 | 792143 |
| Digital Arts Inc. | &nbsp;&nbsp; 7300 | 231755 |
| DMG Mori Co. Ltd. | &nbsp;&nbsp; 33000 | 839669 |
| DTS Corp. | &nbsp;&nbsp; 49500 | 1430987 |
| en Japan Inc. | &nbsp;&nbsp; 7000 | 131046 |
| Enplas Corp.<sup>(a)</sup> | &nbsp;&nbsp; 6000 | 304108 |
| Fancl Corp. | &nbsp;&nbsp; 16500 | 319564 |
| Financial Products Group Co. Ltd. | &nbsp;&nbsp; 82500 | 1432843 |
| Food & Life Companies Ltd. | &nbsp;&nbsp; 16500 | 289147 |
| FP Partner Inc.<sup>(a)</sup> | &nbsp;&nbsp; 33000 | 681968 |
| Frontier Real Estate Investment Corp. | &nbsp;&nbsp; 105 | 304385 |
| Fuji Soft Inc. | &nbsp;&nbsp; 11400 | 546177 |
| Fujimi Inc. | &nbsp;&nbsp; 66000 | 1386146 |
| Fujimori Kogyo Co. Ltd. | &nbsp;&nbsp; 7000 | 210526 |
| Fukuda Denshi Co. Ltd. | &nbsp;&nbsp; 6000 | 270295 |
| Fukui Computer Holdings Inc. | &nbsp;&nbsp; 16500 | 283343 |
| Furuno Electric Co. Ltd. | &nbsp;&nbsp; 16500 | 215483 |
| Future Corp. | &nbsp;&nbsp; 16500 | 188912 |
| Fuyo General Lease Co. Ltd. | &nbsp;&nbsp; 14200 | 1160612 |
| G-7 Holdings Inc. | &nbsp;&nbsp; 16500 | 185898 |
| Geo Holdings Corp. | &nbsp;&nbsp; 49500 | 543533 |
| Gift Holdings Inc. | &nbsp;&nbsp; 33000 | 555521 |
| Global One Real Estate Investment Corp. | &nbsp;&nbsp; 165 | 111507 |
| GMO Financial Holdings Inc. | &nbsp;&nbsp; 115500 | 493970 |
| GMO GlobalSign Holdings KK<sup>(a)</sup> | &nbsp;&nbsp; 16500 | 342535 |
| GMO internet group Inc. | &nbsp;&nbsp; 33000 | 546759 |
| Gree Inc. | &nbsp;&nbsp; 16500 | 58338 |
| GungHo Online Entertainment Inc. | &nbsp;&nbsp; 9000 | 175959 |
| Gunma Bank Ltd. (The) | &nbsp;&nbsp; 99000 | 671623 |
| Gurunavi Inc.<sup>(b)</sup> | &nbsp;&nbsp; 49500 | 105753 |
| H.U. Group Holdings Inc. | &nbsp;&nbsp; 16500 | 290375 |
| Hachijuni Bank Ltd. (The) | &nbsp;&nbsp; 181500 | 1293658 |
| Hanwa Co. Ltd. | &nbsp;&nbsp; 7200 | 278298 |
| Hazama Ando Corp. | &nbsp;&nbsp; 49500 | 400014 |
| Heiwa Real Estate Co. Ltd. | &nbsp;&nbsp; 33000 | 948530 |
| Hibiya Engineering Ltd. | &nbsp;&nbsp; 7900 | 172101 |
| Hioki EE Corp | &nbsp;&nbsp; 16500 | 884740 |
| Hitachi Zosen Corp. | &nbsp;&nbsp; 49500 | 359366 |
| Hokkaido Electric Power Co. Inc. | &nbsp;&nbsp; 16500 | 112198 |
| Hokko Chemical Industry Co. Ltd. | &nbsp;&nbsp; 16500 | 184382 |
| Hokuetsu Corp.<sup>(a)</sup> | &nbsp;&nbsp; 33000 | 255459 |
| Hosiden Corp. | &nbsp;&nbsp; 16500 | 225104 |
| Ichibanya Co. Ltd. | &nbsp;&nbsp; 16500 | 117407 |
| Idec Corp./Japan | &nbsp;&nbsp; 10500 | 216329 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| I'll Inc. | &nbsp;&nbsp; 49500 | $885540 |
| Inabata & Co. Ltd. | &nbsp;&nbsp; 33000 | 739042 |
| Inageya Co. Ltd. | &nbsp;&nbsp; 16500 | 139847 |
| Integrated Design & Engineering Holdings Co. <br> Ltd., NVS<br>| &nbsp;&nbsp; 16900 | 454646 |
| Inui Global Logistics Co. Ltd. | &nbsp;&nbsp; 49500 | 372279 |
| Ishihara Sangyo Kaisha Ltd. | &nbsp;&nbsp; 16500 | 170192 |
| Itochu-Shokuhin Co. Ltd. | &nbsp;&nbsp; 16500 | 763151 |
| Itoki Corp. | &nbsp;&nbsp; 99000 | 1001289 |
| Iyogin Holdings Inc., NVS | &nbsp;&nbsp; 82500 | 828894 |
| Jaccs Co. Ltd. | &nbsp;&nbsp; 9600 | 311675 |
| JAFCO Group Co. Ltd. | &nbsp;&nbsp; 33000 | 417699 |
| Japan Communications Inc.<sup>(b)</sup> | &nbsp;&nbsp; 214500 | 269670 |
| Japan Logistics Fund Inc. | &nbsp;&nbsp; 165 | 282280 |
| Japan Petroleum Exploration Co. Ltd. | &nbsp;&nbsp; 26700 | 1100912 |
| Japan Pulp & Paper Co. Ltd. | &nbsp;&nbsp; 23600 | 1041635 |
| Japan Securities Finance Co. Ltd. | &nbsp;&nbsp; 66000 | 752104 |
| Japan Wool Textile Co. Ltd. (The) | &nbsp;&nbsp; 49500 | 439480 |
| JCU Corp. | &nbsp;&nbsp; 16500 | 411490 |
| Justsystems Corp. | &nbsp;&nbsp; 6700 | 141747 |
| JVCKenwood Corp. | &nbsp;&nbsp; 132000 | 808739 |
| Kagome Co. Ltd. | &nbsp;&nbsp; 16500 | 385400 |
| Kamei Corp. | &nbsp;&nbsp; 82500 | 1237779 |
| Kandenko Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 49500 | 668561 |
| Kappa Create Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 33000 | 415388 |
| KeePer Technical Laboratory Co. Ltd. | &nbsp;&nbsp; 5000 | 121031 |
| Keihanshin Building Co. Ltd. | &nbsp;&nbsp; 82500 | 899615 |
| Kissei Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 1200 | 27903 |
| Ki-Star Real Estate Co. Ltd. | &nbsp;&nbsp; 7100 | 164110 |
| Kitz Corp. | &nbsp;&nbsp; 132000 | 972787 |
| Kokuyo Co. Ltd. | &nbsp;&nbsp; 33000 | 553737 |
| Komori Corp. | &nbsp;&nbsp; 33000 | 268406 |
| Konishi Co. Ltd. | &nbsp;&nbsp; 49500 | 394360 |
| Kosaido Holdings Co. Ltd. | &nbsp;&nbsp; 148500 | 533382 |
| Koshidaka Holdings Co. Ltd. | &nbsp;&nbsp; 16500 | 111066 |
| Kotobuki Spirits Co. Ltd. | &nbsp;&nbsp; 70000 | 898946 |
| KPP Group Holdings Co. Ltd. | &nbsp;&nbsp; 165000 | 818947 |
| K's Holdings Corp. | &nbsp;&nbsp; 16500 | 178089 |
| Kurabo Industries Ltd. | &nbsp;&nbsp; 33000 | 998494 |
| Kyorin Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 16500 | 188577 |
| Kyudenko Corp. | &nbsp;&nbsp; 7500 | 345458 |
| Kyushu Financial Group Inc. | &nbsp;&nbsp; 82500 | 508167 |
| LaSalle Logiport REIT | &nbsp;&nbsp; 1320 | 1302355 |
| Life Corp. | &nbsp;&nbsp; 49500 | 1205366 |
| Macnica Holdings Inc. | &nbsp;&nbsp; 6500 | 262328 |
| Mani Inc. | &nbsp;&nbsp; 16500 | 232080 |
| Maruchiyo Yamaokaya Corp.<sup>(a)</sup> | &nbsp;&nbsp; 16500 | 345454 |
| Maruichi Steel Tube Ltd. | &nbsp;&nbsp; 16500 | 402091 |
| Maruwa Co. Ltd./Aichi | &nbsp;&nbsp; 3000 | 803745 |
| Maruzen Showa Unyu Co. Ltd. | &nbsp;&nbsp; 49500 | 1780565 |
| Max Co. Ltd. | &nbsp;&nbsp; 16500 | 412824 |
| Medley Inc.<sup>(b)</sup> | &nbsp;&nbsp; 5000 | 136536 |
| MEITEC Group Holdings Inc. | &nbsp;&nbsp; 40400 | 912235 |
| Micronics Japan Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 16500 | 655647 |
| MIMAKI ENGINEERING Co. Ltd. | &nbsp;&nbsp; 16500 | 184995 |
| Miroku Jyoho Service Co. Ltd. | &nbsp;&nbsp; 16500 | 213163 |
| Mitsubishi Logistics Corp. | &nbsp;&nbsp; 10000 | 349788 |
| Mitsubishi Paper Mills Ltd. | &nbsp;&nbsp; 16500 | 76792 |
| Mitsui DM Sugar Holdings Co. Ltd. | &nbsp;&nbsp; 7000 | 153806 |
| Mitsui High-Tec Inc. | &nbsp;&nbsp; 26500 | 206726 |
| Mitsui Matsushima Holdings Co. Ltd. | &nbsp;&nbsp; 24100 | 832615 |
| Mitsui Mining & Smelting Co. Ltd. | &nbsp;&nbsp; 16500 | 550085 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Mizuho Leasing Co. Ltd. | &nbsp;&nbsp; 16500 | $124506 |
| Mizuho Medy Co. Ltd. | &nbsp;&nbsp; 49500 | 568465 |
| Mizuno Corp. | &nbsp;&nbsp; 5800 | 293033 |
| Mochida Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 16500 | 387556 |
| Monex Group Inc. | &nbsp;&nbsp; 132000 | 641719 |
| Monogatari Corp. (The) | &nbsp;&nbsp; 16500 | 374473 |
| Mori Hills REIT Investment Corp. | &nbsp;&nbsp; 165 | 141802 |
| Mori Trust REIT Inc. | &nbsp;&nbsp; 2970 | 1380252 |
| Morinaga & Co. Ltd./Japan | &nbsp;&nbsp; 33000 | 633340 |
| MOS Food Services Inc. | &nbsp;&nbsp; 16500 | 389054 |
| Mugen Estate Co. Ltd. | &nbsp;&nbsp; 49500 | 435243 |
| m-up Holdings Inc. | &nbsp;&nbsp; 115500 | 1023854 |
| Nagase & Co. Ltd. | &nbsp;&nbsp; 66000 | 1449942 |
| Nakanishi Inc. | &nbsp;&nbsp; 16500 | 285034 |
| NEC Networks & System Integration Corp. | &nbsp;&nbsp; 16500 | 303889 |
| NET One Systems Co. Ltd. | &nbsp;&nbsp; 16500 | 333403 |
| Nichias Corp. | &nbsp;&nbsp; 16500 | 513956 |
| Nichiha Corp. | &nbsp;&nbsp; 9100 | 227538 |
| Nihon Kohden Corp. | &nbsp;&nbsp; 16500 | 254255 |
| Nihon Parkerizing Co. Ltd. | &nbsp;&nbsp; 37300 | 307987 |
| Nippon Gas Co. Ltd. | &nbsp;&nbsp; 66000 | 1028804 |
| Nippon REIT Investment Corp. | &nbsp;&nbsp; 825 | 1813028 |
| Nishi-Nippon Financial Holdings Inc. | &nbsp;&nbsp; 115500 | 1572613 |
| Nisshin Oillio Group Ltd. (The) | &nbsp;&nbsp; 7000 | 241560 |
| Nisshinbo Holdings Inc. | &nbsp;&nbsp; 16500 | 120911 |
| Nissui Corp. | &nbsp;&nbsp; 148500 | 891357 |
| Nittetsu Mining Co. Ltd. | &nbsp;&nbsp; 16500 | 523261 |
| Nitto Kogyo Corp. | &nbsp;&nbsp; 16500 | 375149 |
| Nomura Co. Ltd. | &nbsp;&nbsp; 66000 | 383294 |
| Nomura Micro Science Co. Ltd. | &nbsp;&nbsp; 33000 | 785786 |
| North Pacific Bank Ltd. | &nbsp;&nbsp; 99000 | 335694 |
| NSD Co. Ltd. | &nbsp;&nbsp; 99000 | 2037965 |
| Obara Group Inc. | &nbsp;&nbsp; 9200 | 244770 |
| Ohsho Food Service Corp. | &nbsp;&nbsp; 3900 | 238551 |
| Okamoto Machine Tool Works Ltd. | &nbsp;&nbsp; 16500 | 464996 |
| Okasan Securities Group Inc. | &nbsp;&nbsp; 115500 | 559224 |
| Okinawa Electric Power Co. Inc. (The) | &nbsp;&nbsp; 33036 | 243933 |
| Okumura Corp. | &nbsp;&nbsp; 16500 | 563383 |
| Okuwa Co. Ltd. | &nbsp;&nbsp; 16500 | 97448 |
| Onward Holdings Co. Ltd. | &nbsp;&nbsp; 132000 | 489973 |
| Organo Corp. | &nbsp;&nbsp; 16500 | 748359 |
| Osaka Soda Co. Ltd. | &nbsp;&nbsp; 2000 | 131220 |
| Oyo Corp. | &nbsp;&nbsp; 16500 | 274075 |
| PAL GROUP Holdings Co. Ltd. | &nbsp;&nbsp; 82500 | 1132297 |
| Pasona Group Inc. | &nbsp;&nbsp; 16500 | 259916 |
| Pharma Foods International Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 82500 | 603179 |
| PHC Holdings Corp.<sup>(a)</sup> | &nbsp;&nbsp; 16500 | 123783 |
| PILLAR Corp./Japan | &nbsp;&nbsp; 16500 | 559480 |
| Press Kogyo Co. Ltd. | &nbsp;&nbsp; 148500 | 619488 |
| Quick Co. Ltd. | &nbsp;&nbsp; 33000 | 475920 |
| Raksul Inc. | &nbsp;&nbsp; 16500 | 125300 |
| Rakuten Bank Ltd., NVS<sup>(b)</sup> | &nbsp;&nbsp; 33000 | 735399 |
| Raysum Co. Ltd. | &nbsp;&nbsp; 16500 | 372567 |
| Relo Group Inc. | &nbsp;&nbsp; 99000 | 1183107 |
| Rengo Co. Ltd. | &nbsp;&nbsp; 33000 | 230161 |
| Riken Keiki Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 16500 | 484431 |
| Riken Technos Corp. | &nbsp;&nbsp; 132000 | 869772 |
| Riken Vitamin Co. Ltd. | &nbsp;&nbsp; 33000 | 621963 |
| Riso Kagaku Corp. | &nbsp;&nbsp; 6000 | 134768 |
| Round One Corp. | &nbsp;&nbsp; 49500 | 294725 |
| Royal Holdings Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 16500 | 279033 |
| Ryobi Ltd. | &nbsp;&nbsp; 16500 | 226258 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Saibu Gas Holdings Co. Ltd. | &nbsp;&nbsp; 49500 | $633848 |
| Saizeriya Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 27600 | 1063521 |
| Sanki Engineering Co. Ltd. | &nbsp;&nbsp; 115500 | 1805886 |
| Sansan Inc.<sup>(b)</sup> | &nbsp;&nbsp; 49500 | 745432 |
| Sansha Electric Manufacturing Co. Ltd. | &nbsp;&nbsp; 33000 | 235190 |
| Santec Holdings Corp. | &nbsp;&nbsp; 10000 | 542453 |
| Sanyo Denki Co. Ltd. | &nbsp;&nbsp; 4300 | 208319 |
| Sanyo Special Steel Co. Ltd. | &nbsp;&nbsp; 16500 | 233843 |
| Sapporo Holdings Ltd. | &nbsp;&nbsp; 5000 | 214825 |
| Senshu Electric Co. Ltd. | &nbsp;&nbsp; 49500 | 1675593 |
| Shibaura Machine Co. Ltd. | &nbsp;&nbsp; 8000 | 196612 |
| Shibaura Mechatronics Corp. | &nbsp;&nbsp; 21000 | 1106473 |
| Shiga Bank Ltd. (The) | &nbsp;&nbsp; 6100 | 163831 |
| Shin Nippon Biomedical Laboratories Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 66000 | 551715 |
| Shinmaywa Industries Ltd. | &nbsp;&nbsp; 16500 | 162311 |
| Shizuoka Gas Co. Ltd. | &nbsp;&nbsp; 33000 | 209794 |
| SHO-BOND Holdings Co. Ltd. | &nbsp;&nbsp; 10800 | 415936 |
| Shoei Co. Ltd. | &nbsp;&nbsp; 16500 | 218683 |
| SIGMAXYZ Holdings Inc. | &nbsp;&nbsp; 16500 | 163057 |
| Simplex Holdings Inc. | &nbsp;&nbsp; 4900 | 70644 |
| Software Service Inc. | &nbsp;&nbsp; 2100 | 196209 |
| Soliton Systems KK | &nbsp;&nbsp; 33000 | 265426 |
| Star Micronics Co. Ltd. | &nbsp;&nbsp; 33000 | 463105 |
| Sumiseki Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 16500 | 114676 |
| Sumitomo Bakelite Co. Ltd. | &nbsp;&nbsp; 10000 | 281519 |
| Sun Corp.<sup>(a)</sup> | &nbsp;&nbsp; 16500 | 532674 |
| Sun\* Inc.<sup>(b)</sup> | &nbsp;&nbsp; 49500 | 302957 |
| Systena Corp. | &nbsp;&nbsp; 115500 | 259966 |
| Syuppin Co. Ltd. | &nbsp;&nbsp; 33000 | 319375 |
| Taihei Dengyo Kaisha Ltd. | &nbsp;&nbsp; 16500 | 582289 |
| Takara Holdings Inc. | &nbsp;&nbsp; 33000 | 250366 |
| Takara Standard Co. Ltd. | &nbsp;&nbsp; 33000 | 380793 |
| Tama Home Co. Ltd. | &nbsp;&nbsp; 55500 | 1660307 |
| Tamron Co. Ltd. | &nbsp;&nbsp; 5800 | 164048 |
| TDC Soft Inc. | &nbsp;&nbsp; 33000 | 282477 |
| Teikoku Electric Manufacturing Co. Ltd. | &nbsp;&nbsp; 49500 | 889322 |
| Tekken Corp. | &nbsp;&nbsp; 16500 | 285194 |
| Tera Probe Inc. | &nbsp;&nbsp; 2000 | 55436 |
| Toagosei Co. Ltd. | &nbsp;&nbsp; 16500 | 176762 |
| TOC Co. Ltd. | &nbsp;&nbsp; 132000 | 623438 |
| Tocalo Co. Ltd. | &nbsp;&nbsp; 33000 | 431247 |
| Toho Gas Co. Ltd. | &nbsp;&nbsp; 82500 | 2548119 |
| Toho Titanium Co. Ltd. | &nbsp;&nbsp; 33000 | 301729 |
| Toho Zinc Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 49500 | 258884 |
| Tokai Carbon Co. Ltd. | &nbsp;&nbsp; 16500 | 105740 |
| Tokyo Kiraboshi Financial Group Inc. | &nbsp;&nbsp; 7800 | 235080 |
| Tokyo Seimitsu Co. Ltd. | &nbsp;&nbsp; 6700 | 461841 |
| Tokyu REIT Inc. | &nbsp;&nbsp; 2145 | 2168912 |
| Tomoku Co. Ltd. | &nbsp;&nbsp; 66000 | 1168481 |
| Tomy Co. Ltd. | &nbsp;&nbsp; 33000 | 748785 |
| Topcon Corp. | &nbsp;&nbsp; 33000 | 341322 |
| Torii Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 33000 | 822891 |
| Toyo Tanso Co. Ltd. | &nbsp;&nbsp; 6000 | 243774 |
| Transaction Co. Ltd. | &nbsp;&nbsp; 16500 | 197239 |
| TSI Holdings Co. Ltd. | &nbsp;&nbsp; 165000 | 989930 |
| Tsuburaya Fields Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 82500 | 868052 |
| Tsugami Corp. | &nbsp;&nbsp; 33000 | 362623 |
| Uchida Yoko Co. Ltd. | &nbsp;&nbsp; 16500 | 859488 |
| Ulvac Inc. | &nbsp;&nbsp; 13300 | 814983 |
| U-Next Holdings Co. Ltd. | &nbsp;&nbsp; 16500 | 568238 |
| United Super Markets Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 49500 | 296726 |
| Ushio Inc. | &nbsp;&nbsp; 16500 | 236603 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Visional Inc.<sup>(b)</sup> | &nbsp;&nbsp; 21900 | $1156269 |
| Vital KSK Holdings Inc. | &nbsp;&nbsp; 16500 | 144821 |
| Wacom Co. Ltd. | &nbsp;&nbsp; 66000 | 318280 |
| Wakita & Co. Ltd. | &nbsp;&nbsp; 16500 | 184282 |
| West Holdings Corp. | &nbsp;&nbsp; 6000 | 92462 |
| Yamae Group Holdings Co. Ltd. | &nbsp;&nbsp; 8000 | 125156 |
| Yamazen Corp. | &nbsp;&nbsp; 16500 | 170676 |
| Yodogawa Steel Works Ltd. | &nbsp;&nbsp; 16500 | 620451 |
| Yonex Co. Ltd. | &nbsp;&nbsp; 49500 | 722997 |
| Yoshinoya Holdings Co. Ltd. | &nbsp;&nbsp; 16500 | 317505 |
| Yurtec Corp. | &nbsp;&nbsp; 115500 | 1162382 |
| Yushiro Chemical Industry Co. Ltd. | &nbsp;&nbsp; 33000 | 395072 |
| ZERIA Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 16500 | 241005 |
|  |  | 145131817 |
| **Netherlands — 2.6%** | **Netherlands — 2.6%** | **Netherlands — 2.6%** |
| Aalberts NV | &nbsp;&nbsp; 11550 | 441644 |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 126555 | 2209252 |
| Allfunds Group PLC | &nbsp;&nbsp; 32670 | 196361 |
| Arcadis NV | &nbsp;&nbsp; 4950 | 353535 |
| ASR Nederland NV | &nbsp;&nbsp; 39435 | 1981303 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 18810 | 2423191 |
| Eurocommercial Properties NV | &nbsp;&nbsp; 10890 | 271241 |
| Flow Traders Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 10725 | 178791 |
| IMCD NV | &nbsp;&nbsp; 4950 | 711777 |
| InPost SA<sup>(b)</sup> | &nbsp;&nbsp; 46035 | 797581 |
| NSI NV | &nbsp;&nbsp; 18810 | 398837 |
| OCI NV | &nbsp;&nbsp; 39930 | 962328 |
| Royal BAM Group NV | &nbsp;&nbsp; 156915 | 650315 |
| Signify NV<sup>(c)</sup> | &nbsp;&nbsp; 68640 | 1699140 |
| TKH Group NV | &nbsp;&nbsp; 6105 | 267532 |
| TomTom NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 96360 | 528692 |
| Van Lanschot Kempen NV | &nbsp;&nbsp; 7425 | 321349 |
|  |  | 14392869 |
| **New Zealand — 0.7%** | **New Zealand — 0.7%** | **New Zealand — 0.7%** |
| Argosy Property Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 392040 | 246155 |
| Genesis Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 177045 | 233918 |
| Goodman Property Trust | &nbsp;&nbsp; 722865 | 888390 |
| Investore Property Ltd. | &nbsp;&nbsp; 80685 | 55703 |
| Kiwi Property Group Ltd. | &nbsp;&nbsp; 2437380 | 1309033 |
| Manawa Energy Ltd. | &nbsp;&nbsp; 22250 | 56941 |
| Precinct Properties Group | &nbsp;&nbsp; 140580 | 101323 |
| Skellerup Holdings Ltd. | &nbsp;&nbsp; 209880 | 555850 |
| SKY Network Television Ltd. | &nbsp;&nbsp; 244035 | 368838 |
|  |  | 3816151 |
| **Norway — 1.2%** | **Norway — 1.2%** | **Norway — 1.2%** |
| Aker Solutions ASA | &nbsp;&nbsp; 110880 | 529025 |
| Atea ASA | &nbsp;&nbsp; 52305 | 696083 |
| BW Offshore Ltd. | &nbsp;&nbsp; 69300 | 193089 |
| Crayon Group Holding ASA<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 7920 | 94489 |
| DNO ASA | &nbsp;&nbsp; 532620 | 542396 |
| Elmera Group ASA<sup>(c)</sup> | &nbsp;&nbsp; 79200 | 246494 |
| Europris ASA<sup>(c)</sup> | &nbsp;&nbsp; 8085 | 48240 |
| Hoegh Autoliners ASA | &nbsp;&nbsp; 33990 | 371531 |
| Kid ASA<sup>(c)</sup> | &nbsp;&nbsp; 40425 | 487576 |
| LINK Mobility Group Holding ASA<sup>(b)</sup> | &nbsp;&nbsp; 113190 | 216305 |
| Norconsult Norge A/S, NVS | &nbsp;&nbsp; 138105 | 416444 |
| Norske Skog ASA<sup>(a)(c)</sup> | &nbsp;&nbsp; 47520 | 176447 |
| OKEA ASA<sup>(a)</sup> | &nbsp;&nbsp; 198165 | 435837 |
| Opera Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 28215 | 354945 |
| Rana Gruber ASA, Class A | &nbsp;&nbsp; 110550 | 739661 |
| Selvaag Bolig ASA | &nbsp;&nbsp; 122430 | 423039 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| SpareBank 1 SMN | &nbsp;&nbsp; 39600 | $591100 |
| Veidekke ASA | &nbsp;&nbsp; 10560 | 118080 |
|  |  | 6680781 |
| **Portugal — 0.3%** | **Portugal — 0.3%** | **Portugal — 0.3%** |
| CTT-Correios de Portugal SA | &nbsp;&nbsp; 140910 | 636791 |
| REN - Redes Energeticas Nacionais SGPS SA | &nbsp;&nbsp; 276045 | 700049 |
| Semapa-Sociedade de Investimento e Gestao | &nbsp;&nbsp; 32505 | 525976 |
|  |  | 1862816 |
| **Singapore — 2.0%** | **Singapore — 2.0%** | **Singapore — 2.0%** |
| Best World International Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 462000 | 867524 |
| BW LPG Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 41415 | 673004 |
| CDL Hospitality Trusts | &nbsp;&nbsp; 478500 | 346204 |
| ComfortDelGro Corp. Ltd. | &nbsp;&nbsp; 132000 | 138483 |
| Delfi Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 891000 | 559990 |
| Digital Core REIT Management Pte Ltd. | &nbsp;&nbsp; 718100 | 409661 |
| Food Empire Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 825000 | 623364 |
| Golden Agri-Resources Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6616500 | 1361216 |
| Hour Glass Ltd. (The)<sup>(a)</sup> | &nbsp;&nbsp; 148500 | 175529 |
| Keppel Infrastructure Trust<sup>(a)</sup> | &nbsp;&nbsp; 1254000 | 451342 |
| NetLink NBN Trust | &nbsp;&nbsp; 1600500 | 1017749 |
| Paragon REIT | &nbsp;&nbsp; 528000 | 347602 |
| Parkway Life REIT | &nbsp;&nbsp; 577500 | 1571091 |
| Riverstone Holdings Ltd./Singapore | &nbsp;&nbsp; 544500 | 388967 |
| Samudera Shipping Line Ltd. | &nbsp;&nbsp; 660000 | 408252 |
| Sasseur Real Estate Investment Trust<sup>(a)</sup> | &nbsp;&nbsp; 643500 | 323184 |
| Sheng Siong Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 181500 | 209041 |
| Silverlake Axis Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 297000 | 64435 |
| Wing Tai Holdings Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 511500 | 520585 |
| Yanlord Land Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1518000 | 511033 |
|  |  | 10968256 |
| **Spain — 2.7%** | **Spain — 2.7%** | **Spain — 2.7%** |
| Acciona SA | &nbsp;&nbsp; 10560 | 1369036 |
| Acerinox SA | &nbsp;&nbsp; 184140 | 1934850 |
| Applus Services SA<sup>(b)</sup> | &nbsp;&nbsp; 41250 | 570535 |
| Atresmedia Corp. de Medios de Comunicacion SA | &nbsp;&nbsp; 88275 | 446313 |
| Banco de Sabadell SA | &nbsp;&nbsp; 1778040 | 3752099 |
| Bankinter SA | &nbsp;&nbsp; 127380 | 1088010 |
| Cia. de Distribucion Integral Logista Holdings SA | &nbsp;&nbsp; 9405 | 278521 |
| eDreams ODIGEO SA<sup>(b)</sup> | &nbsp;&nbsp; 23265 | 170207 |
| Fluidra SA | &nbsp;&nbsp; 9735 | 216883 |
| Gestamp Automocion SA<sup>(c)</sup> | &nbsp;&nbsp; 90255 | 261766 |
| Indra Sistemas SA | &nbsp;&nbsp; 25575 | 512878 |
| Inmobiliaria Colonial SOCIMI SA | &nbsp;&nbsp; 21120 | 122861 |
| Lar Espana Real Estate SOCIMI SA | &nbsp;&nbsp; 116490 | 1026220 |
| Merlin Properties SOCIMI SA | &nbsp;&nbsp; 81345 | 928950 |
| Metrovacesa SA<sup>(c)</sup> | &nbsp;&nbsp; 45540 | 411535 |
| Neinor Homes SA<sup>(c)</sup> | &nbsp;&nbsp; 17160 | 241428 |
| Pharma Mar SA | &nbsp;&nbsp; 8250 | 346940 |
| Prosegur Cia. de Seguridad SA | &nbsp;&nbsp; 78705 | 146166 |
| Sacyr SA | &nbsp;&nbsp; 138765 | 490254 |
| Tubacex SA<sup>(a)</sup> | &nbsp;&nbsp; 89925 | 279925 |
| Unicaja Banco SA<sup>(c)</sup> | &nbsp;&nbsp; 394185 | 530580 |
|  |  | 15125957 |
| **Sweden — 4.0%** | **Sweden — 4.0%** | **Sweden — 4.0%** |
| AcadeMedia AB<sup>(c)</sup> | &nbsp;&nbsp; 11880 | 61124 |
| Alleima AB, NVS | &nbsp;&nbsp; 50655 | 368107 |
| Arise AB<sup>(a)</sup> | &nbsp;&nbsp; 88605 | 433543 |
| Arjo AB, Class B | &nbsp;&nbsp; 123750 | 479611 |
| Atrium Ljungberg AB, Class B | &nbsp;&nbsp; 11220 | 239989 |
| Betsson AB | &nbsp;&nbsp; 124740 | 1484767 |
| Bilia AB, Class A | &nbsp;&nbsp; 94215 | 1172659 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| BioArctic AB, Class B<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 3960 | $59341 |
| BioGaia AB, Class B | &nbsp;&nbsp; 36795 | 438068 |
| Biotage AB | &nbsp;&nbsp; 12045 | 225847 |
| Bonava AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 690855 | 565257 |
| BoneSupport Holding AB<sup>(b)(c)</sup> | &nbsp;&nbsp; 32340 | 911372 |
| Bravida Holding AB<sup>(c)</sup> | &nbsp;&nbsp; 18975 | 153587 |
| Bulten AB<sup>(a)</sup> | &nbsp;&nbsp; 36795 | 267248 |
| Byggmax Group AB | &nbsp;&nbsp; 18645 | 65010 |
| Clas Ohlson AB, Class B | &nbsp;&nbsp; 80355 | 1276503 |
| Concentric AB | &nbsp;&nbsp; 38280 | 589077 |
| Corem Property Group AB | &nbsp;&nbsp; 14850 | 350825 |
| Electrolux Professional AB, Class B | &nbsp;&nbsp; 44055 | 277312 |
| Ferronordic AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 33000 | 245901 |
| Hemnet Group AB | &nbsp;&nbsp; 26070 | 963518 |
| HMS Networks AB | &nbsp;&nbsp; 2640 | 102706 |
| Intrum AB<sup>(a)</sup> | &nbsp;&nbsp; 37785 | 147734 |
| Investment AB Oresund | &nbsp;&nbsp; 57585 | 668991 |
| Inwido AB | &nbsp;&nbsp; 43560 | 718906 |
| JM AB | &nbsp;&nbsp; 13530 | 263776 |
| Lindab International AB | &nbsp;&nbsp; 21285 | 526607 |
| Loomis AB, Class B | &nbsp;&nbsp; 22605 | 720313 |
| MIPS AB | &nbsp;&nbsp; 9240 | 460085 |
| Munters Group AB<sup>(c)</sup> | &nbsp;&nbsp; 6270 | 135745 |
| Mycronic AB | &nbsp;&nbsp; 29700 | 1041465 |
| Net Insight AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 874335 | 546194 |
| New Wave Group AB, Class B | &nbsp;&nbsp; 82995 | 878905 |
| Nobia AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 1221495 | 599579 |
| Nyfosa AB | &nbsp;&nbsp; 80025 | 819010 |
| Orron Energy AB<sup>(b)</sup> | &nbsp;&nbsp; 353760 | 252626 |
| OX2 AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 25740 | 142574 |
| Peab AB, Class B | &nbsp;&nbsp; 16500 | 123062 |
| Ratos AB, Class B | &nbsp;&nbsp; 16500 | 53090 |
| RaySearch Laboratories AB | &nbsp;&nbsp; 39270 | 498948 |
| Samhallsbyggnadsbolaget i Norden AB | &nbsp;&nbsp; 591855 | 375194 |
| Scandic Hotels Group AB<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 142230 | 865635 |
| SkiStar AB | &nbsp;&nbsp; 8085 | 119061 |
| Truecaller AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 86295 | 273316 |
| Vitrolife AB | &nbsp;&nbsp; 4125 | 88713 |
| Volati AB | &nbsp;&nbsp; 21285 | 237710 |
| Wallenstam AB, Class B | &nbsp;&nbsp; 10890 | 54931 |
| Wihlborgs Fastigheter AB | &nbsp;&nbsp; 80520 | 815590 |
|  |  | 22159132 |
| **Switzerland — 6.2%** | **Switzerland — 6.2%** | **Switzerland — 6.2%** |
| Accelleron Industries AG, NVS | &nbsp;&nbsp; 41910 | 2073901 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 24750 | 842448 |
| Aryzta AG<sup>(b)</sup> | &nbsp;&nbsp; 27720 | 53068 |
| Ascom Holding AG, Registered | &nbsp;&nbsp; 19965 | 144069 |
| Avolta AG, Registered | &nbsp;&nbsp; 3135 | 118288 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 14850 | 1576289 |
| Belimo Holding AG, Registered | &nbsp;&nbsp; 825 | 500132 |
| BKW AG | &nbsp;&nbsp; 6435 | 1164036 |
| Bucher Industries AG, Registered | &nbsp;&nbsp; 2371 | 960561 |
| Burckhardt Compression Holding AG | &nbsp;&nbsp; 370 | 257798 |
| Cembra Money Bank AG | &nbsp;&nbsp; 2970 | 259346 |
| Clariant AG, Registered | &nbsp;&nbsp; 54285 | 805239 |
| Comet Holding AG, Registered | &nbsp;&nbsp; 660 | 264449 |
| dormakaba Holding AG | &nbsp;&nbsp; 660 | 399736 |
| Dottikon Es Holding AG<sup>(b)</sup> | &nbsp;&nbsp; 1233 | 354777 |
| Emmi AG, Registered | &nbsp;&nbsp; 165 | 173506 |
| Flughafen Zurich AG, Registered | &nbsp;&nbsp; 990 | 229119 |
| Forbo Holding AG, Registered | &nbsp;&nbsp; 349 | 375929 |
| Galenica AG<sup>(c)</sup> | &nbsp;&nbsp; 22605 | 1966142 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Georg Fischer AG | &nbsp;&nbsp; 7590 | $557683 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 10890 | 1624560 |
| Implenia AG, Registered | &nbsp;&nbsp; 14685 | 532183 |
| Inficon Holding AG, Registered | &nbsp;&nbsp; 872 | 1300213 |
| Interroll Holding AG, Registered | &nbsp;&nbsp; 202 | 652704 |
| Landis+Gyr Group AG | &nbsp;&nbsp; 6105 | 552998 |
| LEM Holding SA, Registered | &nbsp;&nbsp; 165 | 240982 |
| Logitech International SA, Registered | &nbsp;&nbsp; 34485 | 3106275 |
| Medmix AG<sup>(c)</sup> | &nbsp;&nbsp; 7425 | 102525 |
| Mobilezone Holding AG, Registered | &nbsp;&nbsp; 3465 | 56504 |
| Mobimo Holding AG, Registered | &nbsp;&nbsp; 548 | 164130 |
| PSP Swiss Property AG, Registered | &nbsp;&nbsp; 10230 | 1367045 |
| SFS Group AG | &nbsp;&nbsp; 1980 | 289153 |
| Siegfried Holding AG, Registered | &nbsp;&nbsp; 351 | 409109 |
| SIG Group AG | &nbsp;&nbsp; 45540 | 956344 |
| SKAN Group AG | &nbsp;&nbsp; 2145 | 193789 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 7920 | 793745 |
| Swissquote Group Holding SA, Registered | &nbsp;&nbsp; 9900 | 3157579 |
| Tecan Group AG, Registered | &nbsp;&nbsp; 3465 | 1293887 |
| Temenos AG, Registered | &nbsp;&nbsp; 11880 | 824929 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 6105 | 3059435 |
| Vontobel Holding AG, Registered | &nbsp;&nbsp; 9405 | 616238 |
| Zehnder Group AG, Registered | &nbsp;&nbsp; 7095 | 446873 |
|  |  | 34817716 |
| **United Kingdom — 15.6%** | **United Kingdom — 15.6%** | **United Kingdom — 15.6%** |
| 4imprint Group PLC | &nbsp;&nbsp; 10395 | 811689 |
| abrdn PLC | &nbsp;&nbsp; 717420 | 1568988 |
| AG Barr PLC | &nbsp;&nbsp; 9735 | 80651 |
| Airtel Africa PLC<sup>(c)</sup> | &nbsp;&nbsp; 265650 | 389478 |
| AJ Bell PLC | &nbsp;&nbsp; 171600 | 1012556 |
| Ashmore Group PLC | &nbsp;&nbsp; 109890 | 243859 |
| B&M European Value Retail SA | &nbsp;&nbsp; 153615 | 925066 |
| Baltic Classifieds Group PLC | &nbsp;&nbsp; 282315 | 983649 |
| Bank of Georgia Group PLC | &nbsp;&nbsp; 14025 | 824519 |
| Beazley PLC | &nbsp;&nbsp; 82500 | 725134 |
| Bellway PLC | &nbsp;&nbsp; 30855 | 1132931 |
| Big Yellow Group PLC | &nbsp;&nbsp; 4290 | 66716 |
| Bodycote PLC | &nbsp;&nbsp; 7920 | 70842 |
| Bridgepoint Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 160710 | 605812 |
| British Land Co. PLC (The) | &nbsp;&nbsp; 472065 | 2502085 |
| Britvic PLC | &nbsp;&nbsp; 108900 | 1778374 |
| Bytes Technology Group PLC | &nbsp;&nbsp; 116160 | 756803 |
| Capricorn Energy PLC | &nbsp;&nbsp; 223117 | 547268 |
| Centamin PLC | &nbsp;&nbsp; 158070 | 258173 |
| Chemring Group PLC | &nbsp;&nbsp; 155760 | 828982 |
| Computacenter PLC | &nbsp;&nbsp; 51645 | 1788262 |
| ConvaTec Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 382140 | 1151379 |
| Currys PLC<sup>(b)</sup> | &nbsp;&nbsp; 718905 | 751827 |
| Darktrace PLC<sup>(b)</sup> | &nbsp;&nbsp; 222255 | 1690280 |
| Deliveroo PLC, Class A<sup>(b)(c)</sup> | &nbsp;&nbsp; 383955 | 651050 |
| Derwent London PLC | &nbsp;&nbsp; 8085 | 238847 |
| DFS Furniture PLC | &nbsp;&nbsp; 226380 | 347481 |
| Diploma PLC | &nbsp;&nbsp; 24255 | 1386785 |
| Diversified Energy Co. PLC | &nbsp;&nbsp; 5115 | 84503 |
| Domino's Pizza Group PLC | &nbsp;&nbsp; 342375 | 1423640 |
| Dowlais Group PLC | &nbsp;&nbsp; 801900 | 660613 |
| Drax Group PLC | &nbsp;&nbsp; 126720 | 1059965 |
| DS Smith PLC | &nbsp;&nbsp; 81345 | 475547 |
| Dunelm Group PLC | &nbsp;&nbsp; 49500 | 785119 |
| Evoke PLC<sup>(b)</sup> | &nbsp;&nbsp; 162195 | 123125 |
| FDM Group Holdings PLC | &nbsp;&nbsp; 133650 | 731068 |
| Ferrexpo PLC<sup>(b)</sup> | &nbsp;&nbsp; 1107480 | 824335 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Firstgroup PLC | &nbsp;&nbsp; 732930 | $1652651 |
| Frasers Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 65175 | 752237 |
| Games Workshop Group PLC | &nbsp;&nbsp; 5940 | 787846 |
| Genuit Group PLC | &nbsp;&nbsp; 19635 | 129029 |
| Genus PLC | &nbsp;&nbsp; 8910 | 208802 |
| Grafton Group PLC | &nbsp;&nbsp; 48345 | 673508 |
| Grainger PLC | &nbsp;&nbsp; 44715 | 138889 |
| Great Portland Estates PLC | &nbsp;&nbsp; 72600 | 327599 |
| Greencore Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 91575 | 212139 |
| Greggs PLC | &nbsp;&nbsp; 47850 | 1926995 |
| Halfords Group PLC | &nbsp;&nbsp; 380160 | 755553 |
| Hammerson PLC | &nbsp;&nbsp; 1519815 | 563085 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 27225 | 386761 |
| Helical PLC | &nbsp;&nbsp; 108405 | 312167 |
| Hill & Smith PLC | &nbsp;&nbsp; 29040 | 858422 |
| Hiscox Ltd. | &nbsp;&nbsp; 16830 | 274846 |
| Hochschild Mining PLC<sup>(b)</sup> | &nbsp;&nbsp; 137775 | 321535 |
| Howden Joinery Group PLC | &nbsp;&nbsp; 83655 | 1011405 |
| IG Group Holdings PLC | &nbsp;&nbsp; 72507 | 875646 |
| IMI PLC | &nbsp;&nbsp; 6600 | 160756 |
| Immunocore Holdings PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 6105 | 242369 |
| Inchcape PLC | &nbsp;&nbsp; 204600 | 2225116 |
| Indivior PLC, NVS<sup>(b)</sup> | &nbsp;&nbsp; 71115 | 976848 |
| Intermediate Capital Group PLC | &nbsp;&nbsp; 82995 | 2342678 |
| International Distributions Services PLC<sup>(b)</sup> | &nbsp;&nbsp; 353430 | 1568135 |
| International Workplace Group PLC | &nbsp;&nbsp; 50985 | 113202 |
| Investec PLC | &nbsp;&nbsp; 240835 | 1906939 |
| Johnson Matthey PLC | &nbsp;&nbsp; 17490 | 368517 |
| Just Group PLC | &nbsp;&nbsp; 62205 | 96539 |
| Kainos Group PLC | &nbsp;&nbsp; 68145 | 961890 |
| Keller Group PLC | &nbsp;&nbsp; 44055 | 843860 |
| Kingfisher PLC | &nbsp;&nbsp; 94545 | 336120 |
| Land Securities Group PLC | &nbsp;&nbsp; 98010 | 801468 |
| Man Group PLC/Jersey | &nbsp;&nbsp; 707407 | 2227118 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 336600 | 1421647 |
| Marshalls PLC | &nbsp;&nbsp; 97350 | 435516 |
| Marston's PLC<sup>(b)</sup> | &nbsp;&nbsp; 127545 | 68374 |
| MONY Group PLC | &nbsp;&nbsp; 367455 | 1121710 |
| Moonpig Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 25575 | 71851 |
| Morgan Sindall Group PLC | &nbsp;&nbsp; 20460 | 755722 |
| Odfjell Technology Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 55110 | 313165 |
| OSB Group PLC | &nbsp;&nbsp; 135795 | 898486 |
| Oxford Instruments PLC | &nbsp;&nbsp; 18810 | 606948 |
| Pagegroup PLC | &nbsp;&nbsp; 65175 | 359063 |
| Paragon Banking Group PLC | &nbsp;&nbsp; 174900 | 1807293 |
| Pets at Home Group PLC | &nbsp;&nbsp; 224235 | 884398 |
| Picton Property Income Ltd. | &nbsp;&nbsp; 263835 | 248922 |
| Playtech PLC<sup>(b)</sup> | &nbsp;&nbsp; 83655 | 607616 |
| Plus500 Ltd. | &nbsp;&nbsp; 26400 | 796198 |
| PureTech Health PLC<sup>(b)</sup> | &nbsp;&nbsp; 78210 | 174542 |
| QinetiQ Group PLC | &nbsp;&nbsp; 108735 | 675501 |
| Quilter PLC<sup>(c)</sup> | &nbsp;&nbsp; 286110 | 491760 |
| Redrow PLC | &nbsp;&nbsp; 24750 | 237439 |
| Renewi PLC | &nbsp;&nbsp; 8745 | 75883 |
| Renishaw PLC | &nbsp;&nbsp; 2145 | 104426 |
| Rightmove PLC | &nbsp;&nbsp; 77055 | 572507 |
| RS Group PLC | &nbsp;&nbsp; 135630 | 1424903 |
| Safestore Holdings PLC | &nbsp;&nbsp; 108405 | 1126479 |
| Savills PLC | &nbsp;&nbsp; 50655 | 830925 |
| Serco Group PLC | &nbsp;&nbsp; 38280 | 94063 |
| Shaftesbury Capital PLC | &nbsp;&nbsp; 688545 | 1348097 |
| Softcat PLC | &nbsp;&nbsp; 86295 | 1805371 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Spectris PLC | &nbsp;&nbsp; 18810 | $737865 |
| Spire Healthcare Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 97515 | 321080 |
| Spirent Communications PLC | &nbsp;&nbsp; 294525 | 657859 |
| SSP Group PLC | &nbsp;&nbsp; 158235 | 372123 |
| SThree PLC | &nbsp;&nbsp; 82500 | 435442 |
| Synthomer PLC<sup>(b)</sup> | &nbsp;&nbsp; 49005 | 166815 |
| TBC Bank Group PLC | &nbsp;&nbsp; 16500 | 657559 |
| Telecom Plus PLC | &nbsp;&nbsp; 42735 | 1044341 |
| TI Fluid Systems PLC<sup>(c)</sup> | &nbsp;&nbsp; 189750 | 321346 |
| Trainline PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 35640 | 156053 |
| Trustpilot Group PLC<sup>(b)(c)</sup> | &nbsp;&nbsp; 192060 | 514792 |
| Tullow Oil PLC<sup>(b)</sup> | &nbsp;&nbsp; 333630 | 131329 |
| UNITE Group PLC (The) | &nbsp;&nbsp; 7590 | 93032 |
| Vesuvius PLC | &nbsp;&nbsp; 30690 | 190399 |
| Virgin Money U.K. PLC | &nbsp;&nbsp; 95056 | 262871 |
| Vistry Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 51480 | 916928 |
| Weir Group PLC (The) | &nbsp;&nbsp; 36960 | 964833 |
| WH Smith PLC | &nbsp;&nbsp; 13530 | 230212 |
| Wickes Group PLC | &nbsp;&nbsp; 478335 | 928535 |
| Workspace Group PLC | &nbsp;&nbsp; 67815 | 534638 |
|  |  | 86624928 |
| **United States — 0.0%** | **United States — 0.0%** | **United States — 0.0%** |
| Gran Tierra Energy Inc., NVS<sup>(b)</sup> | &nbsp;&nbsp; 23100 | 214160 |
| **Total Common Stocks — 98.7%** <br>**(Cost: $490,938,906)** | **Total Common Stocks — 98.7%** <br>**(Cost: $490,938,906)** | 549666081 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.7%** | **Germany — 0.7%** | **Germany — 0.7%** |
| Draegerwerk AG & Co. KGaA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 8580 | 451217 |
| Fuchs Petrolub SE, Preference Shares, NVS | &nbsp;&nbsp; 17820 | 774299 |
| Jungheinrich AG, Preference Shares, NVS | &nbsp;&nbsp; 16005 | 506636 |
| KSB SE & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 361 | 246918 |
| Schaeffler AG, Preference Shares, NVS | &nbsp;&nbsp; 160215 | 877496 |
| STO SE & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 8375 | 1121012 |
|  |  | 3977578 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Spain — 0.1%** | **Spain — 0.1%** | **Spain — 0.1%** |
| Grifols SA, Class B, Preference Shares, NVS | &nbsp;&nbsp; 61545 | $472547 |
| **Total Preferred Stocks — 0.8%** <br>**(Cost: $4,845,076)** | **Total Preferred Stocks — 0.8%** <br>**(Cost: $4,845,076)** | 4450125 |
| **Total Long-Term Investments — 99.5%** <br>**(Cost: $495,783,982)** | **Total Long-Term Investments — 99.5%** <br>**(Cost: $495,783,982)** | 554116206 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 4.2%** | **Money Market Funds — 4.2%** | **Money Market Funds — 4.2%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 23180249 | 23189522 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 110000 | 110000 |
| **Total Short-Term Securities — 4.2%** <br>**(Cost: $23,295,584)** | **Total Short-Term Securities — 4.2%** <br>**(Cost: $23,295,584)** | 23299522 |
| **Total Investments — 103.7%** <br>**(Cost: $519,079,566)** | **Total Investments — 103.7%** <br>**(Cost: $519,079,566)** | 577415728 |
| **Liabilities in Excess of Other Assets — (3.7)%** | **Liabilities in Excess of Other Assets — (3.7)%** | (20548242)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $556867486 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> All or a portion of this security is on loan.

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $18080388<br> $5108688 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(1489)<br>| $1935 | $23189522 | 23180249 | $472950 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 110000<br> 0 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 110000 | 110000 | 22471 | &nbsp;&nbsp; — |
|  |  |  | $(1489)<br>| $1935 | $23299522 |  | $495421 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Mini TOPIX Index | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $554 | &nbsp;&nbsp; $(17750)<br>|
| Mini S&P/TSE 60 Index | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 09/19/24 | &nbsp;&nbsp; 552 | &nbsp;&nbsp; 9172 |
| STOXX Europe 600 Index | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 1294 | &nbsp;&nbsp; 18386 |
|  |  |  |  | &nbsp;&nbsp; $9808 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $27558 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $27558 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $17750 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $17750 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $311965 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $311965 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(107970)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(107970)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $2844122 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® International Small-Cap Equity Factor ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $109849550 | &nbsp;&nbsp; $439708642 | &nbsp;&nbsp; $107889 | &nbsp;&nbsp; $549666081 |
| Preferred Stocks | &nbsp;&nbsp; 246918 | &nbsp;&nbsp; 4203207 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4450125 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 23299522 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 23299522 |
|  | &nbsp;&nbsp; $133395990 | &nbsp;&nbsp; $443911849 | &nbsp;&nbsp; $107889 | &nbsp;&nbsp; $577415728 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $9172 | &nbsp;&nbsp; $18386 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $27558 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (17750)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (17750)<br>|
|  | &nbsp;&nbsp; $9172 | &nbsp;&nbsp; $636 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $9808 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® MSCI EAFE Min Vol Factor ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 3.4%** | **Australia — 3.4%** | **Australia — 3.4%** |
| Brambles Ltd. | &nbsp;&nbsp; 2015771 | $20550125 |
| Cochlear Ltd. | &nbsp;&nbsp; 28814 | 6510687 |
| Coles Group Ltd. | &nbsp;&nbsp; 1048165 | 12422504 |
| Computershare Ltd. | &nbsp;&nbsp; 794058 | 14321634 |
| CSL Ltd. | &nbsp;&nbsp; 163262 | 33136157 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 3359907 | 16254906 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 12963590 | 33748668 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 675668 | 7974267 |
| Santos Ltd. | &nbsp;&nbsp; 1106706 | 5769155 |
| Telstra Group Ltd. | &nbsp;&nbsp; 6895925 | 17820889 |
| Transurban Group | &nbsp;&nbsp; 1983054 | 16922977 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 145893 | 3395717 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 670055 | 32338327 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 156769 | 3537205 |
|  |  | 224703218 |
| **Belgium — 2.6%** | **Belgium — 2.6%** | **Belgium — 2.6%** |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 206349 | 12251799 |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 71436 | 36524242 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 607261 | 45319339 |
| Lotus Bakeries NV | &nbsp;&nbsp; 1495 | 16244355 |
| UCB SA | &nbsp;&nbsp; 369883 | 61805337 |
|  |  | 172145072 |
| **Denmark — 1.9%** | **Denmark — 1.9%** | **Denmark — 1.9%** |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 124944 | 15087856 |
| Danske Bank A/S | &nbsp;&nbsp; 189810 | 5804861 |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 37996 | 10732792 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 494282 | 65488848 |
| Tryg A/S | &nbsp;&nbsp; 1402197 | 30699844 |
|  |  | 127814201 |
| **Finland — 3.0%** | **Finland — 3.0%** | **Finland — 3.0%** |
| Elisa OYJ | &nbsp;&nbsp; 903301 | 42058975 |
| Kone OYJ, Class B | &nbsp;&nbsp; 419666 | 21430067 |
| Nokia OYJ | &nbsp;&nbsp; 1688154 | 6634277 |
| Nordea Bank Abp | &nbsp;&nbsp; 1845538 | 21595997 |
| Orion OYJ, Class B | &nbsp;&nbsp; 661136 | 30387896 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 1762073 | 77240636 |
|  |  | 199347848 |
| **France — 7.1%** | **France — 7.1%** | **France — 7.1%** |
| Air Liquide SA | &nbsp;&nbsp; 282156 | 51481752 |
| Carrefour SA | &nbsp;&nbsp; 1161823 | 17331182 |
| Danone SA | &nbsp;&nbsp; 643639 | 41814038 |
| Dassault Aviation SA | &nbsp;&nbsp; 102811 | 20699350 |
| Edenred SE | &nbsp;&nbsp; 62476 | 2601423 |
| Getlink SE | &nbsp;&nbsp; 551203 | 9822355 |
| Ipsen SA | &nbsp;&nbsp; 152285 | 17098582 |
| La Francaise des Jeux SAEM<sup>(b)</sup> | &nbsp;&nbsp; 350468 | 13597712 |
| L'Oreal SA | &nbsp;&nbsp; 9140 | 3952570 |
| Orange SA | &nbsp;&nbsp; 7734347 | 85830099 |
| Sanofi SA | &nbsp;&nbsp; 851025 | 87734273 |
| Sodexo SA | &nbsp;&nbsp; 55222 | 5229926 |
| Thales SA | &nbsp;&nbsp; 225366 | 35822703 |
| TotalEnergies SE | &nbsp;&nbsp; 1142297 | 77066541 |
|  |  | 470082506 |
| **Germany — 5.4%** | **Germany — 5.4%** | **Germany — 5.4%** |
| Beiersdorf AG | &nbsp;&nbsp; 545867 | 79230967 |
| Deutsche Boerse AG | &nbsp;&nbsp; 128246 | 26260733 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 2118095 | 55404033 |
| E.ON SE | &nbsp;&nbsp; 260940 | 3659193 |
| Hannover Rueck SE | &nbsp;&nbsp; 111653 | 27722381 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 498926 | $38658222 |
| Merck KGaA | &nbsp;&nbsp; 68020 | 12153288 |
| Muenchener Rueckversicherungs-Gesellschaft AG in <br> Muenchen, Registered<br>| &nbsp;&nbsp; 54699 | 26940612 |
| Qiagen NV, NVS | &nbsp;&nbsp; 925060 | 41159563 |
| SAP SE | &nbsp;&nbsp; 149966 | 31705847 |
| Symrise AG, Class A | &nbsp;&nbsp; 72591 | 9148743 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 75737 | 5753847 |
|  |  | 357797429 |
| **Hong Kong — 5.6%** | **Hong Kong — 5.6%** | **Hong Kong — 5.6%** |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 14006500 | 40749413 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 4724500 | 24681298 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 4719000 | 31474540 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 7794500 | 66897202 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 3089500 | 37833473 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 27611349 | 33441824 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 35239799 | 28715945 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 941700 | 3041326 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 558200 | 19664791 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 3905248 | 12633846 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 10355500 | 66000475 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 969000 | 2656850 |
|  |  | 367790983 |
| **Ireland — 0.6%** | **Ireland — 0.6%** | **Ireland — 0.6%** |
| AIB Group PLC | &nbsp;&nbsp; 3539386 | 20302218 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 223700 | 20914995 |
|  |  | 41217213 |
| **Israel — 2.2%** | **Israel — 2.2%** | **Israel — 2.2%** |
| Bank Hapoalim BM | &nbsp;&nbsp; 3169674 | 29085991 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 1819125 | 15676291 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 278833 | 51151914 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 141563 | 25337664 |
| ICL Group Ltd. | &nbsp;&nbsp; 1705785 | 7140545 |
| Isracard Ltd. | &nbsp;&nbsp; 1 | 3 |
| Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 1177117 | 6009198 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 275254 | 9932888 |
|  |  | 144334494 |
| **Italy — 2.9%** | **Italy — 2.9%** | **Italy — 2.9%** |
| Davide Campari-Milano NV | &nbsp;&nbsp; 395902 | 3570431 |
| Eni SpA | &nbsp;&nbsp; 2585745 | 41371380 |
| Ferrari NV | &nbsp;&nbsp; 147590 | 60743999 |
| Generali | &nbsp;&nbsp; 157544 | 4077713 |
| Leonardo SpA | &nbsp;&nbsp; 475954 | 11339780 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 553544 | 30136688 |
| Snam SpA | &nbsp;&nbsp; 4148523 | 19824235 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 1935203 | 16114925 |
| UniCredit SpA | &nbsp;&nbsp; 186160 | 7646466 |
|  |  | 194825617 |
| **Japan — 28.1%** | **Japan — 28.1%** | **Japan — 28.1%** |
| Aisin Corp. | &nbsp;&nbsp; 86000 | 2901294 |
| ANA Holdings Inc. | &nbsp;&nbsp; 673400 | 12880608 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 1444100 | 16748600 |
| Bandai Namco Holdings Inc.<sup>(c)</sup> | &nbsp;&nbsp; 320100 | 6802364 |
| Bridgestone Corp. | &nbsp;&nbsp; 878900 | 35835956 |
| Brother Industries Ltd. | &nbsp;&nbsp; 312300 | 6407257 |
| Canon Inc. | &nbsp;&nbsp; 1966400 | 61551653 |
| Central Japan Railway Co. | &nbsp;&nbsp; 2393700 | 56436126 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 2724800 | 25524487 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 1726900 | 21773652 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 708400 | 30916328 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 3045600 | 19194925 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Min Vol Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 320200 | $10534007 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 31000 | 3728063 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 565800 | 16022541 |
| East Japan Railway Co. | &nbsp;&nbsp; 3324200 | 63337327 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 4722400 | 24743207 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 18600 | 5127067 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 305000 | 7251658 |
| Fujitsu Ltd. | &nbsp;&nbsp; 409200 | 7431137 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 269500 | 7689893 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 1498900 | 9872228 |
| Inpex Corp. | &nbsp;&nbsp; 300800 | 4644799 |
| ITOCHU Corp. | &nbsp;&nbsp; 645100 | 33082938 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 828000 | 13415981 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 4511600 | 46948462 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 4008600 | 42452910 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 280700 | 5778921 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 1866100 | 54910326 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 565700 | 9682404 |
| Kao Corp. | &nbsp;&nbsp; 330100 | 14454971 |
| KDDI Corp. | &nbsp;&nbsp; 1575500 | 47406804 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 198400 | 5933958 |
| Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp; 820100 | 18993666 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 1376200 | 19456126 |
| Kyocera Corp. | &nbsp;&nbsp; 737500 | 9288784 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 998200 | 21054631 |
| McDonald's Holdings Co. Japan Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 645000 | 26721797 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 1190300 | 30060272 |
| Mitsubishi Corp. | &nbsp;&nbsp; 214600 | 4431931 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 1929000 | 22280626 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 2288120 | 52306754 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 598800 | 14116432 |
| NEC Corp. | &nbsp;&nbsp; 455800 | 39451602 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 64600 | 3196463 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 51801800 | 55205862 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 1264300 | 37591157 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 78600 | 9612421 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 190400 | 5877970 |
| Obayashi Corp. | &nbsp;&nbsp; 1490800 | 19573195 |
| Obic Co. Ltd. | &nbsp;&nbsp; 164000 | 25007224 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 1627100 | 24003508 |
| Oracle Corp./Japan | &nbsp;&nbsp; 206100 | 16823774 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 272600 | 7804402 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 1106200 | 25037889 |
| Otsuka Corp. | &nbsp;&nbsp; 1009300 | 22373937 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 1643200 | 83751113 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 955200 | 24920410 |
| Resona Holdings Inc. | &nbsp;&nbsp; 1029500 | 7382477 |
| SCSK Corp. | &nbsp;&nbsp; 1188500 | 23399081 |
| Secom Co. Ltd. | &nbsp;&nbsp; 824900 | 52672133 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 1036000 | 15631161 |
| Sekisui House Ltd. | &nbsp;&nbsp; 1405400 | 35214158 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 763900 | 7767829 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 801000 | 35235246 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 3302300 | 32984334 |
| SoftBank Corp. | &nbsp;&nbsp; 6088400 | 79421662 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 859600 | 19600527 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 261900 | 18912564 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 685200 | 24609745 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 2025000 | 56850387 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 631100 | 24760013 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 654900 | 14348614 |
| Tokyu Corp. | &nbsp;&nbsp; 1356100 | 16429666 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| West Japan Railway Co. | &nbsp;&nbsp; 1382200 | $27211417 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 669000 | 13718123 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 498400 | 6053110 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 76100 | 3097559 |
|  |  | 1865664604 |
| **Netherlands — 4.1%** | **Netherlands — 4.1%** | **Netherlands — 4.1%** |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 133250 | 9829852 |
| Heineken Holding NV | &nbsp;&nbsp; 175319 | 12919337 |
| Heineken NV | &nbsp;&nbsp; 212628 | 18868768 |
| JDE Peet's NV | &nbsp;&nbsp; 762180 | 16760868 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 2819150 | 90819451 |
| Koninklijke KPN NV | &nbsp;&nbsp; 16727282 | 65908570 |
| Wolters Kluwer NV | &nbsp;&nbsp; 316131 | 52923265 |
|  |  | 268030111 |
| **New Zealand — 0.5%** | **New Zealand — 0.5%** | **New Zealand — 0.5%** |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 3126495 | 13918284 |
| Mercury NZ Ltd. | &nbsp;&nbsp; 1460773 | 5981326 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 1391942 | 5384692 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 2649013 | 6807918 |
|  |  | 32092220 |
| **Norway — 0.1%** | **Norway — 0.1%** | **Norway — 0.1%** |
| Equinor ASA | &nbsp;&nbsp; 190148 | 5035156 |
| Telenor ASA | &nbsp;&nbsp; 321977 | 3836362 |
|  |  | 8871518 |
| **Portugal — 0.5%** | **Portugal — 0.5%** | **Portugal — 0.5%** |
| Galp Energia SGPS SA | &nbsp;&nbsp; 1305252 | 27444764 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 444656 | 7771847 |
|  |  | 35216611 |
| **Singapore — 4.0%** | **Singapore — 4.0%** | **Singapore — 4.0%** |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 2654940 | 72754411 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 10974000 | 6973461 |
| Oversea-Chinese Banking Corp. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 4829599 | 53756551 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 6386500 | 47087038 |
| Singapore Technologies Engineering Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 10261900 | 33974866 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 2138600 | 51858228 |
|  |  | 266404555 |
| **Spain — 3.9%** | **Spain — 3.9%** | **Spain — 3.9%** |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 121531 | 5429601 |
| Aena SME SA<sup>(b)</sup> | &nbsp;&nbsp; 120678 | 22928656 |
| CaixaBank SA | &nbsp;&nbsp; 4254111 | 24810989 |
| Endesa SA | &nbsp;&nbsp; 698830 | 13560236 |
| Iberdrola SA | &nbsp;&nbsp; 2126003 | 28080659 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 1946686 | 94587257 |
| Redeia Corp. SA | &nbsp;&nbsp; 2654438 | 47129214 |
| Repsol SA | &nbsp;&nbsp; 1241019 | 17700554 |
| Telefonica SA | &nbsp;&nbsp; 707748 | 3205560 |
|  |  | 257432726 |
| **Sweden — 0.1%** | **Sweden — 0.1%** | **Sweden — 0.1%** |
| Swedish Orphan Biovitrum AB<sup>(a)</sup> | &nbsp;&nbsp; 247260 | 6460179 |
| **Switzerland — 13.6%** | **Switzerland — 13.6%** | **Switzerland — 13.6%** |
| Alcon Inc. | &nbsp;&nbsp; 57853 | 5477784 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 119572 | 21398757 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 225239 | 23908536 |
| BKW AG | &nbsp;&nbsp; 158482 | 28668035 |
| Chocoladefabriken Lindt & Spruengli AG, <br> Participation Certificates, NVS<br>| &nbsp;&nbsp; 740 | 9274865 |
| Chocoladefabriken Lindt & Spruengli AG, Registered | &nbsp;&nbsp; 26 | 3219538 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 24133 | 20180882 |
| Givaudan SA, Registered | &nbsp;&nbsp; 6250 | 30662841 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Min Vol Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 98289 | $14662662 |
| Holcim AG | &nbsp;&nbsp; 153143 | 14311275 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 100837 | 31258522 |
| Nestle SA, Registered | &nbsp;&nbsp; 835301 | 84609804 |
| Novartis AG, Registered | &nbsp;&nbsp; 921942 | 102914380 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 176901 | 62218179 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 261155 | 84551382 |
| Sandoz Group AG | &nbsp;&nbsp; 124815 | 5413632 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 162640 | 42699413 |
| SGS SA | &nbsp;&nbsp; 449297 | 49123114 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 492364 | 49344873 |
| Swiss Re AG | &nbsp;&nbsp; 101539 | 12518067 |
| Swisscom AG, Registered | &nbsp;&nbsp; 173581 | 106238869 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 182306 | 100226392 |
|  |  | 902881802 |
| **United Kingdom — 9.7%** | **United Kingdom — 9.7%** | **United Kingdom — 9.7%** |
| AstraZeneca PLC | &nbsp;&nbsp; 321550 | 51084897 |
| BAE Systems PLC | &nbsp;&nbsp; 5411243 | 90249277 |
| BP PLC | &nbsp;&nbsp; 3878060 | 22923642 |
| British American Tobacco PLC | &nbsp;&nbsp; 236757 | 8400382 |
| Bunzl PLC | &nbsp;&nbsp; 545566 | 22858862 |
| Compass Group PLC | &nbsp;&nbsp; 1237072 | 38095642 |
| Diageo PLC | &nbsp;&nbsp; 132439 | 4120835 |
| GSK PLC | &nbsp;&nbsp; 3927564 | 76268510 |
| Haleon PLC | &nbsp;&nbsp; 3539141 | 15874470 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 205512 | 5024738 |
| HSBC Holdings PLC | &nbsp;&nbsp; 368147 | 3347967 |
| National Grid PLC | &nbsp;&nbsp; 2402515 | 30483532 |
| Pearson PLC | &nbsp;&nbsp; 1114536 | 15121993 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 54815 | 2948699 |
| RELX PLC | &nbsp;&nbsp; 1296186 | 61176719 |
| Sage Group PLC (The) | &nbsp;&nbsp; 645521 | 9023451 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Shell PLC | &nbsp;&nbsp; 1671642 | $60954554 |
| Tesco PLC | &nbsp;&nbsp; 5150674 | 21964894 |
| Unilever PLC | &nbsp;&nbsp; 1627329 | 100006974 |
|  |  | 639930038 |
| **Total Long-Term Investments — 99.3%** <br>**(Cost: $5,987,961,690)** | **Total Long-Term Investments — 99.3%** <br>**(Cost: $5,987,961,690)** | 6583042945 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.3%** | **Money Market Funds — 0.3%** | **Money Market Funds — 0.3%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 17846637 | 17853775 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(d)</sup><br>| &nbsp;&nbsp; 1450000 | 1450000 |
| **Total Short-Term Securities — 0.3%** <br>**(Cost: $19,301,620)** | **Total Short-Term Securities — 0.3%** <br>**(Cost: $19,301,620)** | 19303775 |
| **Total Investments — 99.6%** <br>**(Cost: $6,007,263,310)** | **Total Investments — 99.6%** <br>**(Cost: $6,007,263,310)** | 6602346720 |
| **Other Assets Less Liabilities — 0.4%** | **Other Assets Less Liabilities — 0.4%** | 29463032 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $6631809752 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> 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. 

<sup>(c)</sup> All or a portion of this security is on loan.

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $11820223<br> $6029672 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $2945 | $935 | $17853775 | 17846637 | $135120 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 1290000<br> 160000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 1450000 | 1450000 | 195851 | &nbsp;&nbsp; — |
|  |  |  | $2945 | $935 | $19303775 |  | $330971 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Min Vol Factor ETF**

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $13308 | &nbsp;&nbsp; $(82824)<br>|
| SPI 200 Index | &nbsp;&nbsp; 69 | &nbsp;&nbsp; 09/19/24 | &nbsp;&nbsp; 9118 | &nbsp;&nbsp; 426641 |
| Euro STOXX 50 Index | &nbsp;&nbsp; 153 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 8113 | &nbsp;&nbsp; (20260)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 7097 | &nbsp;&nbsp; 144055 |
| 2-Year U.S. Treasury Note | &nbsp;&nbsp; 45 | &nbsp;&nbsp; 09/30/24 | &nbsp;&nbsp; 9254 | &nbsp;&nbsp; 77699 |
|  |  |  |  | &nbsp;&nbsp; $545311 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $570696 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $77699 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $648395 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $103084 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $103084 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4892379 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(194507)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $4697872 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(717179)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $164393 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(552786)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $51777646 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Min Vol Factor ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $150966707 | &nbsp;&nbsp; $6432076238 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6583042945 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 19303775 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 19303775 |
|  | &nbsp;&nbsp; $170270482 | &nbsp;&nbsp; $6432076238 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6602346720 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $570696 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $570696 |
| Interest Rate Contracts | &nbsp;&nbsp; 77699 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 77699 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (103084)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (103084)<br>|
|  | &nbsp;&nbsp; $77699 | &nbsp;&nbsp; $467612 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $545311 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Assets and Liabilities

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>Global Equity <br> Factor ETF <br>| &nbsp;&nbsp; iShares <br>International Equity <br> Factor ETF <br>| &nbsp;&nbsp; iShares <br>International <br> Small-Cap <br> Equity Factor <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI EAFE Min <br> Vol Factor ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $109044313 | $1118544790 | $554116206 | $6583042945 |
| Investments, at value—affiliated<sup>(c)</sup> | 1533620 | 6467026 | 23299522 | 19303775 |
| Cash | 5879 | 1929 | 9032 | 5351 |
| Cash pledged for futures contracts | 10000 |  |  | 48000 |
| Foreign currency collateral pledged for futures contracts<sup>(d)</sup> |  | 333130 | 135727 | 2356219 |
| Foreign currency, at value<sup>(e)</sup> | 100918 | 1705081 | 850292 | 9636017 |
| Receivables: |  |  |  |  |
| Investments sold |  |  | 222640 |  |
| Securities lending income—affiliated | 7402 | 1734 | 46768 | 3544 |
| Capital shares sold |  | 41910 |  |  |
| Dividends—unaffiliated | 162903 | 973970 | 804123 | 7149434 |
| Dividends—affiliated | 607 | 575 | 496 | 3848 |
| Tax reclaims | 51109 | 2748379 | 665375 | 29028399 |
| Variation margin on futures contracts | 4522 | 43566 | 16874 | 351084 |
| Total assets | 110921273 | 1130862090 | 580167055 | 6650928616 |
| **LIABILITIES** |  |  |  |  |
| Collateral on securities loaned, at value | 1241898 | 6317475 | 23188592 | 17812657 |
| Payables: |  |  |  |  |
| Investments purchased |  | 33270 | 198 |  |
| Deferred foreign capital gain tax | 181286 |  |  |  |
| Investment advisory fees | 18551 | 140837 | 106381 | 1112314 |
| Professional fees |  | 32618 | 4398 | 193893 |
| Total liabilities | 1441735 | 6524200 | 23299569 | 19118864 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $109479538 | $1124337890 | $556867486 | $6631809752 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $91687110 | $1140858137 | $514132972 | $7034457769 |
| Accumulated earnings (loss) | 17792428 | (16520247) | 42734514 | (402648017) |
| NET ASSETS | $109479538 | $1124337890 | $556867486 | $6631809752 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 2550000 | 37300000 | 16500000 | 90400000 |
| Net asset value | $42.93 | $30.14 | $33.75 | $73.36 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $84666006 | $970352607 | $495783982 | $5987961690 |
| <sup>(b)</sup> Securities loaned, at value | $1220406 | $6062195 | $21404077 | $17007222 |
| <sup>(c)</sup> Investments, at cost—affiliated | $1510217 | $6466449 | $23295584 | $19301620 |
| <sup>(d)</sup> Foreign currency collateral pledged, at cost | $— | $339704 | $135219 | $2458743 |
| <sup>(e)</sup> Foreign currency, at cost | $101194 | $1687696 | $850007 | $9331452 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Global Equity <br> Factor ETF <br>| &nbsp;&nbsp; iShares <br>International <br> Equity Factor <br> ETF <br>| &nbsp;&nbsp; iShares <br>International <br> Small-Cap <br> Equity Factor <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI EAFE <br> Min Vol <br> Factor ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $2920010 | &nbsp;&nbsp;&nbsp; $37057816 | &nbsp;&nbsp;&nbsp; $20351092 | &nbsp;&nbsp;&nbsp; $244601817 |
| Dividends—affiliated | &nbsp;&nbsp; 10224 | &nbsp;&nbsp;&nbsp; 33000 | &nbsp;&nbsp;&nbsp; 22471 | &nbsp;&nbsp;&nbsp; 195851 |
| Interest—unaffiliated | &nbsp;&nbsp; 1368 | &nbsp;&nbsp;&nbsp; 19453 | &nbsp;&nbsp;&nbsp; 9370 | &nbsp;&nbsp;&nbsp; 106079 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 48120 | &nbsp;&nbsp;&nbsp; 33650 | &nbsp;&nbsp;&nbsp; 472950 | &nbsp;&nbsp;&nbsp; 135120 |
| Other income—unaffiliated | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 58767 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Foreign taxes withheld | &nbsp;&nbsp; (222262)<br>| &nbsp;&nbsp;&nbsp; (2972361)<br>| &nbsp;&nbsp;&nbsp; (1874544)<br>| &nbsp;&nbsp;&nbsp; (17332835)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 901835 | &nbsp;&nbsp;&nbsp; 44117 | &nbsp;&nbsp;&nbsp; 1714585 |
| Other foreign taxes | &nbsp;&nbsp; (399)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total investment income | &nbsp;&nbsp; 2757061 | &nbsp;&nbsp;&nbsp; 35132160 | &nbsp;&nbsp;&nbsp; 19025456 | &nbsp;&nbsp;&nbsp; 229420617 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 238754 | &nbsp;&nbsp;&nbsp; 1499809 | &nbsp;&nbsp;&nbsp; 1265111 | &nbsp;&nbsp;&nbsp; 14192984 |
| Commitment costs | &nbsp;&nbsp; 555 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Interest expense | &nbsp;&nbsp; 431 | &nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp; 558 | &nbsp;&nbsp;&nbsp; 2642 |
| Professional | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 100714 | &nbsp;&nbsp;&nbsp; 6027 | &nbsp;&nbsp;&nbsp; 195984 |
| Total expenses | &nbsp;&nbsp; 239740 | &nbsp;&nbsp;&nbsp; 1600598 | &nbsp;&nbsp;&nbsp; 1271696 | &nbsp;&nbsp;&nbsp; 14391610 |
| Net investment income | &nbsp;&nbsp; 2517321 | &nbsp;&nbsp;&nbsp; 33531562 | &nbsp;&nbsp;&nbsp; 17753760 | &nbsp;&nbsp;&nbsp; 215029007 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 2915111 | &nbsp;&nbsp;&nbsp; (337640)<br>| &nbsp;&nbsp;&nbsp; (2965919)<br>| &nbsp;&nbsp;&nbsp; (83434578)<br>|
| Investments—affiliated | &nbsp;&nbsp; (40)<br>| &nbsp;&nbsp;&nbsp; 956 | &nbsp;&nbsp;&nbsp; (1489)<br>| &nbsp;&nbsp;&nbsp; 2945 |
| Foreign currency transactions | &nbsp;&nbsp; (35424)<br>| &nbsp;&nbsp;&nbsp; (184867)<br>| &nbsp;&nbsp;&nbsp; (142402)<br>| &nbsp;&nbsp;&nbsp; (1806220)<br>|
| Futures contracts | &nbsp;&nbsp; 10830 | &nbsp;&nbsp;&nbsp; 775538 | &nbsp;&nbsp;&nbsp; 311965 | &nbsp;&nbsp;&nbsp; 4697872 |
| In-kind redemptions—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; 7730033 | &nbsp;&nbsp;&nbsp; 13943817 | &nbsp;&nbsp;&nbsp; 7081557 | &nbsp;&nbsp;&nbsp; 276736020 |
| In-kind redemptions—affiliated<sup>(b)</sup> | &nbsp;&nbsp; 2456 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Payments by affiliate | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 4459 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; 10622966 | &nbsp;&nbsp;&nbsp; 14197804 | &nbsp;&nbsp;&nbsp; 4288171 | &nbsp;&nbsp;&nbsp; 196196039 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated<sup>(c)</sup> | &nbsp;&nbsp; 8621993 | &nbsp;&nbsp;&nbsp; 76040977 | &nbsp;&nbsp;&nbsp; 22081896 | &nbsp;&nbsp;&nbsp; 219513534 |
| Investments—affiliated | &nbsp;&nbsp; 15531 | &nbsp;&nbsp;&nbsp; 188 | &nbsp;&nbsp;&nbsp; 1935 | &nbsp;&nbsp;&nbsp; 935 |
| Foreign currency translations | &nbsp;&nbsp; 4899 | &nbsp;&nbsp;&nbsp; 23890 | &nbsp;&nbsp;&nbsp; 13328 | &nbsp;&nbsp;&nbsp; 374101 |
| Futures contracts | &nbsp;&nbsp; (12680)<br>| &nbsp;&nbsp;&nbsp; (107663)<br>| &nbsp;&nbsp;&nbsp; (107970)<br>| &nbsp;&nbsp;&nbsp; (552786)<br>|
|  | &nbsp;&nbsp; 8629743 | &nbsp;&nbsp;&nbsp; 75957392 | &nbsp;&nbsp;&nbsp; 21989189 | &nbsp;&nbsp;&nbsp; 219335784 |
| Net realized and unrealized gain | &nbsp;&nbsp; 19252709 | &nbsp;&nbsp;&nbsp; 90155196 | &nbsp;&nbsp;&nbsp; 26277360 | &nbsp;&nbsp;&nbsp; 415531823 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $21770030 | &nbsp;&nbsp;&nbsp; $123686758 | &nbsp;&nbsp;&nbsp; $44031120 | &nbsp;&nbsp;&nbsp; $630560830 |
| <sup>(a)</sup> Net of foreign capital gain tax and capital gain tax refund, if applicable of | &nbsp;&nbsp; $(92726)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. |
| <sup>(c)</sup> Net of increase in deferred foreign capital gain tax of | &nbsp;&nbsp; $(123682)<br>| &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>Global Equity Factor ETF  | iShares <br>Global Equity Factor ETF  | iShares <br>International Equity Factor ETF  | iShares <br>International Equity Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $2517321 | &nbsp;&nbsp;&nbsp; $2924803 | &nbsp;&nbsp;&nbsp; $33531562 | &nbsp;&nbsp;&nbsp; $31708432 |
| Net realized gain (loss) | &nbsp;&nbsp; 10622966 | &nbsp;&nbsp;&nbsp; (2195725)<br>| &nbsp;&nbsp;&nbsp; 14197804 | &nbsp;&nbsp;&nbsp; (8918633)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 8629743 | &nbsp;&nbsp;&nbsp; 14255701 | &nbsp;&nbsp;&nbsp; 75957392 | &nbsp;&nbsp;&nbsp; 105030879 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 21770030 | &nbsp;&nbsp;&nbsp; 14984779 | &nbsp;&nbsp;&nbsp; 123686758 | &nbsp;&nbsp;&nbsp; 127820678 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (3117451)<br>| &nbsp;&nbsp;&nbsp; (2972728)<br>| &nbsp;&nbsp;&nbsp; (37376442)<br>| &nbsp;&nbsp;&nbsp; (24688142)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (34021333)<br>| &nbsp;&nbsp;&nbsp; (6755470)<br>| &nbsp;&nbsp;&nbsp; 73266376 | &nbsp;&nbsp;&nbsp; 36882133 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (15368754)<br>| &nbsp;&nbsp;&nbsp; 5256581 | &nbsp;&nbsp;&nbsp; 159576692 | &nbsp;&nbsp;&nbsp; 140014669 |
| Beginning of year | &nbsp;&nbsp; 124848292 | &nbsp;&nbsp;&nbsp; 119591711 | &nbsp;&nbsp;&nbsp; 964761198 | &nbsp;&nbsp;&nbsp; 824746529 |
| End of year | &nbsp;&nbsp; $109479538 | &nbsp;&nbsp;&nbsp; $124848292 | &nbsp;&nbsp;&nbsp; $1124337890 | &nbsp;&nbsp;&nbsp; $964761198 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>International Small-Cap Equity Factor ETF  | iShares <br>International Small-Cap Equity Factor ETF  | iShares <br>MSCI EAFE Min Vol Factor ETF  | iShares <br>MSCI EAFE Min Vol Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $17753760 | &nbsp;&nbsp;&nbsp; $19239896 | &nbsp;&nbsp;&nbsp; $215029007 | &nbsp;&nbsp;&nbsp; $219707487 |
| Net realized gain (loss) | &nbsp;&nbsp; 4288171 | &nbsp;&nbsp;&nbsp; (8739532)<br>| &nbsp;&nbsp;&nbsp; 196196039 | &nbsp;&nbsp;&nbsp; (16191748)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 21989189 | &nbsp;&nbsp;&nbsp; 39346440 | &nbsp;&nbsp;&nbsp; 219335784 | &nbsp;&nbsp;&nbsp; 615833330 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 44031120 | &nbsp;&nbsp;&nbsp; 49846804 | &nbsp;&nbsp;&nbsp; 630560830 | &nbsp;&nbsp;&nbsp; 819349069 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (21886713)<br>| &nbsp;&nbsp;&nbsp; (15328281)<br>| &nbsp;&nbsp;&nbsp; (221241346)<br>| &nbsp;&nbsp;&nbsp; (204048443)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (84262141)<br>| &nbsp;&nbsp;&nbsp; 358878061 | &nbsp;&nbsp;&nbsp; (1500405548)<br>| &nbsp;&nbsp;&nbsp; 1173620233 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (62117734)<br>| &nbsp;&nbsp;&nbsp; 393396584 | &nbsp;&nbsp;&nbsp; (1091086064)<br>| &nbsp;&nbsp;&nbsp; 1788920859 |
| Beginning of year | &nbsp;&nbsp; 618985220 | &nbsp;&nbsp;&nbsp; 225588636 | &nbsp;&nbsp;&nbsp; 7722895816 | &nbsp;&nbsp;&nbsp; 5933974957 |
| End of year | &nbsp;&nbsp; $556867486 | &nbsp;&nbsp;&nbsp; $618985220 | &nbsp;&nbsp;&nbsp; $6631809752 | &nbsp;&nbsp;&nbsp; $7722895816 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares Global Equity Factor ETF  | iShares Global Equity Factor ETF  | iShares Global Equity Factor ETF  | iShares Global Equity Factor ETF  | iShares Global Equity Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $36.72 | &nbsp;&nbsp;&nbsp; $33.22 | &nbsp;&nbsp;&nbsp; $38.13 | &nbsp;&nbsp;&nbsp; $29.39 | &nbsp;&nbsp;&nbsp; $29.23 |
| Net investment income<sup>(a)</sup> | 0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.83 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.57 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 6.41 | &nbsp;&nbsp;&nbsp;&nbsp;3.52 | &nbsp;&nbsp;&nbsp; (4.99)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.73 | &nbsp;&nbsp;&nbsp;&nbsp;0.28 |
| Net increase (decrease) from investment operations | 7.22 | &nbsp;&nbsp;&nbsp;&nbsp;4.35 | &nbsp;&nbsp;&nbsp; (4.18)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.39 | &nbsp;&nbsp;&nbsp;&nbsp;0.85 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (1.01)<br>| &nbsp;&nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp;&nbsp; (0.73)<br>| &nbsp;&nbsp;&nbsp; (0.65)<br>| &nbsp;&nbsp;&nbsp; (0.69)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $42.93 | &nbsp;&nbsp;&nbsp; $36.72 | &nbsp;&nbsp;&nbsp; $33.22 | &nbsp;&nbsp;&nbsp; $38.13 | &nbsp;&nbsp;&nbsp; $29.39 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 19.96<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.34<br> %<br>| &nbsp;&nbsp;&nbsp; (11.08)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 32.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.90<br> %<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.26<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>|
| Net investment income | 2.11<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.50<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.92<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.00<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $109480 | &nbsp;&nbsp;&nbsp; $124848 | &nbsp;&nbsp;&nbsp; $119592 | &nbsp;&nbsp;&nbsp; $133463 | &nbsp;&nbsp;&nbsp; $114623 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 112<br> %<br>| &nbsp;&nbsp;&nbsp; 51<br> %<br>| &nbsp;&nbsp;&nbsp; 48<br> %<br>| &nbsp;&nbsp;&nbsp; 43<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares International Equity Factor ETF  | iShares International Equity Factor ETF  | iShares International Equity Factor ETF  | iShares International Equity Factor ETF  | iShares International Equity Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $27.64 | &nbsp;&nbsp;&nbsp; $24.62 | &nbsp;&nbsp;&nbsp; $30.13 | &nbsp;&nbsp;&nbsp; $23.89 | &nbsp;&nbsp;&nbsp; $25.68 |
| Net investment income<sup>(a)</sup> | 0.94 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.90 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;0.60 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 2.60 | &nbsp;&nbsp;&nbsp;&nbsp;2.83 | &nbsp;&nbsp;&nbsp; (5.09)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.35 | &nbsp;&nbsp;&nbsp; (1.61)<br>|
| Net increase (decrease) from investment operations | 3.54 | &nbsp;&nbsp;&nbsp;&nbsp;3.73 | &nbsp;&nbsp;&nbsp; (4.11)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.14 | &nbsp;&nbsp;&nbsp; (1.01)<br>|
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp;&nbsp; (0.71)<br>| &nbsp;&nbsp;&nbsp; (1.40)<br>| &nbsp;&nbsp;&nbsp; (0.90)<br>| &nbsp;&nbsp;&nbsp; (0.78)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $30.14 | &nbsp;&nbsp;&nbsp; $27.64 | &nbsp;&nbsp;&nbsp; $24.62 | &nbsp;&nbsp;&nbsp; $30.13 | &nbsp;&nbsp;&nbsp; $23.89 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 13.08 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 15.37 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (13.97)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 29.97<br> %<br>| &nbsp;&nbsp;&nbsp; (4.03)%<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 3.35 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.57 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.54<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.89<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.44<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $1124338 | &nbsp;&nbsp;&nbsp; $964761 | &nbsp;&nbsp;&nbsp; $824747 | &nbsp;&nbsp;&nbsp; $897810 | &nbsp;&nbsp;&nbsp; $910213 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 22<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>| &nbsp;&nbsp;&nbsp; 113<br> %<br>| &nbsp;&nbsp;&nbsp; 45<br> %<br>| &nbsp;&nbsp;&nbsp; 40<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.08% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.08% and 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.08% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.08% and 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.08% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.08% and 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.08% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.08% and 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.08% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.08% and 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.02 and $0.01.<br> • Total return by 0.08% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.08% and 0.03%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares International Small-Cap Equity Factor ETF  | iShares International Small-Cap Equity Factor ETF  | iShares International Small-Cap Equity Factor ETF  | iShares International Small-Cap Equity Factor ETF  | iShares International Small-Cap Equity Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $32.07 | &nbsp;&nbsp;&nbsp; $30.90 | &nbsp;&nbsp;&nbsp; $37.47 | &nbsp;&nbsp;&nbsp; $28.44 | &nbsp;&nbsp;&nbsp; $28.88 |
| Net investment income<sup>(a)</sup> | 1.02 | &nbsp;&nbsp;&nbsp;&nbsp;1.15 | &nbsp;&nbsp;&nbsp;&nbsp;1.08 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.68 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 1.96 | &nbsp;&nbsp;&nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp; (6.15)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.15 | &nbsp;&nbsp;&nbsp; (0.32)<br>|
| Net increase (decrease) from investment operations | 2.98 | &nbsp;&nbsp;&nbsp;&nbsp;2.02 | &nbsp;&nbsp;&nbsp; (5.07)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.93 | &nbsp;&nbsp;&nbsp;&nbsp;0.36 |
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (1.30)<br>| &nbsp;&nbsp;&nbsp; (0.85)<br>| &nbsp;&nbsp;&nbsp; (1.50)<br>| &nbsp;&nbsp;&nbsp; (0.90)<br>| &nbsp;&nbsp;&nbsp; (0.80)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $33.75 | &nbsp;&nbsp;&nbsp; $32.07 | &nbsp;&nbsp;&nbsp; $30.90 | &nbsp;&nbsp;&nbsp; $37.47 | &nbsp;&nbsp;&nbsp; $28.44 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 9.57 %<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 6.73<br> %<br>| &nbsp;&nbsp;&nbsp; (13.81)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 35.22<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.16<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.23<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.28<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>|
| Net investment income | 3.23<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.79<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.31<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.44<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $556867 | &nbsp;&nbsp;&nbsp; $618985 | &nbsp;&nbsp;&nbsp; $225589 | &nbsp;&nbsp;&nbsp; $194819 | &nbsp;&nbsp;&nbsp; $122273 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 26<br> %<br>| &nbsp;&nbsp;&nbsp; 120<br> %<br>| &nbsp;&nbsp;&nbsp; 52<br> %<br>| &nbsp;&nbsp;&nbsp; 47<br> %<br>| &nbsp;&nbsp;&nbsp; 47<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. | <sup>(e)</sup> Includes payment received from an affiliate, which had no impact on the Fund's total return. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI EAFE Min Vol Factor ETF  | iShares MSCI EAFE Min Vol Factor ETF  | iShares MSCI EAFE Min Vol Factor ETF  | iShares MSCI EAFE Min Vol Factor ETF  | iShares MSCI EAFE Min Vol Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $68.83 | &nbsp;&nbsp;&nbsp; $65.71 | &nbsp;&nbsp;&nbsp; $77.27 | &nbsp;&nbsp;&nbsp; $66.79 | &nbsp;&nbsp;&nbsp; $71.90 |
| Net investment income<sup>(a)</sup> | 2.08 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.72 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.79 | &nbsp;&nbsp;&nbsp;&nbsp;1.86 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 4.70 | &nbsp;&nbsp;&nbsp;&nbsp;2.93 | &nbsp;&nbsp;&nbsp; (11.54)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.96 | &nbsp;&nbsp;&nbsp; (4.26)<br>|
| Net increase (decrease) from investment operations | 6.78 | &nbsp;&nbsp;&nbsp;&nbsp;4.93 | &nbsp;&nbsp;&nbsp; (9.82)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.75 | &nbsp;&nbsp;&nbsp; (2.40)<br>|
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (2.25)<br>| &nbsp;&nbsp;&nbsp; (1.81)<br>| &nbsp;&nbsp;&nbsp; (1.74)<br>| &nbsp;&nbsp;&nbsp; (1.27)<br>| &nbsp;&nbsp;&nbsp; (2.71)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $73.36 | &nbsp;&nbsp;&nbsp; $68.83 | &nbsp;&nbsp;&nbsp; $65.71 | &nbsp;&nbsp;&nbsp; $77.27 | &nbsp;&nbsp;&nbsp; $66.79 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 10.09 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.62 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (12.76 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 17.61<br> %<br>| &nbsp;&nbsp;&nbsp; (3.51)%<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>|
| Total expenses after fees waived | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.31<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 3.03 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.08 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.36 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.48<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.65<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $6631810 | &nbsp;&nbsp;&nbsp; $7722896 | &nbsp;&nbsp;&nbsp; $5933975 | &nbsp;&nbsp;&nbsp; $8631346 | &nbsp;&nbsp;&nbsp; $10559196 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 23<br> %<br>| &nbsp;&nbsp;&nbsp; 25<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>| &nbsp;&nbsp;&nbsp; 25<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.09 and $0.01. <br> • Total return by 0.03%, 0.13% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.13% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.09 and $0.01. <br> • Total return by 0.03%, 0.13% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.13% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.09 and $0.01. <br> • Total return by 0.03%, 0.13% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.13% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.09 and $0.01. <br> • Total return by 0.03%, 0.13% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.13% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.09 and $0.01. <br> • Total return by 0.03%, 0.13% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.13% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively: <br> • Net investment income per share by $0.01, $0.09 and $0.01. <br> • Total return by 0.03%, 0.13% and 0.02%. <br> • Ratio of net investment income to average net assets by 0.02%, 0.13% and 0.01%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| Global Equity Factor | &nbsp;&nbsp; Diversified |
| International Equity Factor | &nbsp;&nbsp; Diversified |
| International Small-Cap Equity Factor | &nbsp;&nbsp; Diversified |
| MSCI EAFE Min Vol Factor | &nbsp;&nbsp; Diversified |

---

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Foreign Taxes:** Certain Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2024, if any, are disclosed in the Statements of Assets and Liabilities.

Certain Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**Collateralization:** If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's published NAV.

&nbsp;&nbsp;&nbsp;&nbsp;• Futures contracts are valued based on that day's last reported settlement or trade price on the exchange where the contract is traded.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange ("NYSE"). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments ("Systematic Fair Value Price"). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** 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:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 that may not have a secondary market and/or may have 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.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***4. SECURITIES AND OTHER INVESTMENTS***

**Warrants:** Warrants entitle a fund to purchase a specified number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date of the warrants, if any. If the price of the underlying stock does not rise above the strike price before the warrant expires, the warrant generally expires without any value and a fund will lose any amount it paid for the warrant. Thus, investments in warrants may involve more risk than investments in common stock. Warrants may trade in the same markets as their underlying stock; however, the price of the warrant does not necessarily move with the price of the underlying stock.

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| Global Equity Factor |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $196781 | &nbsp;&nbsp;&nbsp; $(196781) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BofA Securities, Inc. | &nbsp;&nbsp; 5707 | &nbsp;&nbsp;&nbsp; (5707) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 134516 | &nbsp;&nbsp;&nbsp; (134516) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 716512 | &nbsp;&nbsp;&nbsp; (716512) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 166890 | &nbsp;&nbsp;&nbsp; (165836) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1054<sup>(b)</sup> <br>|
|  | &nbsp;&nbsp; $1220406 | &nbsp;&nbsp;&nbsp; $(1219352) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $1054 |
| International Equity Factor |  |  |  |  |
| BofA Securities, Inc. | &nbsp;&nbsp; $1198061 | &nbsp;&nbsp;&nbsp; $(1198061) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 3711128 | &nbsp;&nbsp;&nbsp; (3711128) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 389438 | &nbsp;&nbsp;&nbsp; (389438) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 446978 | &nbsp;&nbsp;&nbsp; (446978) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 316590 | &nbsp;&nbsp;&nbsp; (316590) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $6062195 | &nbsp;&nbsp;&nbsp; $(6062195) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| International Small-Cap Equity Factor |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $271357 | &nbsp;&nbsp;&nbsp; $(271357) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 243212 | &nbsp;&nbsp;&nbsp; (243212) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 3020615 | &nbsp;&nbsp;&nbsp; (3020615) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 463875 | &nbsp;&nbsp;&nbsp; (463875) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 9669474 | &nbsp;&nbsp;&nbsp; (9669474) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 2745152 | &nbsp;&nbsp;&nbsp; (2745152) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 3084720 | &nbsp;&nbsp;&nbsp; (3084720) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 190641 | &nbsp;&nbsp;&nbsp; (190641) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Macquarie Bank Ltd. | &nbsp;&nbsp; 36222 | &nbsp;&nbsp;&nbsp; (36222) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Scotia Capital (USA), Inc. | &nbsp;&nbsp; 192534 | &nbsp;&nbsp;&nbsp; (192534) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 136227 | &nbsp;&nbsp;&nbsp; (136227) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 540969 | &nbsp;&nbsp;&nbsp; (540969) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 793983 | &nbsp;&nbsp;&nbsp; (793983) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 15096 | &nbsp;&nbsp;&nbsp; (15096) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $21404077 | &nbsp;&nbsp;&nbsp; $(21404077) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| MSCI EAFE Min Vol Factor |  |  |  |  |
| BofA Securities, Inc. | &nbsp;&nbsp; $5217236 | &nbsp;&nbsp;&nbsp; $(5217236) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 1487552 | &nbsp;&nbsp;&nbsp; (1487552) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 10302434 | &nbsp;&nbsp;&nbsp; (10302434) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $17007222 | &nbsp;&nbsp;&nbsp; $(17007222) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

<sup>(b)</sup> The market value of the loaned securities is determined as of July 31, 2024. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by a counterparty. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. ("BlackRock"). BlackRock's indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. DERIVATIVE FINANCIAL INSTRUMENTS***

**Futures Contracts:** Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract's size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.

Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.

***6. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| Global Equity Factor | 0.20% |
| International Equity Factor | 0.15 |
| International Small-Cap Equity Factor | 0.23 |
| MSCI EAFE Min Vol Factor | 0.20 |

---

**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statement of Operations does not include acquired fund fees and expenses. For the iShares Global Equity Factor ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through November 30, 2025 in an amount equal to the acquired fund fees and expenses, if any, attributable to the Fund's investments in other iShares funds.

For year ended July 31, 2024, there were no fees waived by BFA pursuant to this arrangement.

**Distributor:** BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, redemption fee, distribution fee or service fee. The money market fund in which the cash collateral has been invested may impose a discretionary liquidity fee of up to 2% of the value redeemed, if such fee is determined to be in the best interests of such money market fund.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended July 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| Global Equity Factor | &nbsp;&nbsp; $10521 |
| International Equity Factor | &nbsp;&nbsp; 7062 |
| International Small-Cap Equity Factor | &nbsp;&nbsp; 106342 |
| MSCI EAFE Min Vol Factor | &nbsp;&nbsp; 33166 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**Other Transactions:** Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the year ended July 31, 2024, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* | &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>|
| Global Equity Factor | &nbsp;&nbsp; $6902471 | &nbsp;&nbsp;&nbsp; $8506503 | &nbsp;&nbsp;&nbsp; $670736 |
| International Equity Factor | &nbsp;&nbsp; 37351679 | &nbsp;&nbsp;&nbsp; 46042060 | &nbsp;&nbsp;&nbsp; (1445123) |
| International Small-Cap Equity Factor | &nbsp;&nbsp; 9092679 | &nbsp;&nbsp;&nbsp; 7861418 | &nbsp;&nbsp;&nbsp; 1155263 |
| MSCI EAFE Min Vol Factor | &nbsp;&nbsp; 510403217 | &nbsp;&nbsp;&nbsp; 442077057 | &nbsp;&nbsp;&nbsp; (7423974) |

---

During the year ended July 31, 2024, the iShares International Small-Cap Equity Factor ETF received a reimbursement of $4,459 from an affiliate, which is included in payment by affiliate in the Statement of Operations, related to an operating event.

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***7. PURCHASES AND SALES***

For the year ended July 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| Global Equity Factor | &nbsp;&nbsp; $28101270 | &nbsp;&nbsp;&nbsp; $33484940 |
| International Equity Factor | &nbsp;&nbsp; 236345907 | &nbsp;&nbsp;&nbsp; 220804073 |
| International Small-Cap Equity Factor | &nbsp;&nbsp; 146116771 | &nbsp;&nbsp;&nbsp; 152447340 |
| MSCI EAFE Min Vol Factor | &nbsp;&nbsp; 1607950200 | &nbsp;&nbsp;&nbsp; 1629916940 |

---

For the year ended July 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| Global Equity Factor | &nbsp;&nbsp; $3240661 | &nbsp;&nbsp;&nbsp; $32526281 |
| International Equity Factor | &nbsp;&nbsp; 148108034 | &nbsp;&nbsp;&nbsp; 94219628 |
| International Small-Cap Equity Factor | &nbsp;&nbsp; 6020242 | &nbsp;&nbsp;&nbsp; 86654649 |
| MSCI EAFE Min Vol Factor | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1484697712 |

---

***8. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of July 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| Global Equity Factor | &nbsp;&nbsp; $7651750 | &nbsp;&nbsp;&nbsp; $(7651750) |
| International Equity Factor | &nbsp;&nbsp; 12747952 | &nbsp;&nbsp;&nbsp; (12747952) |
| International Small-Cap Equity Factor | &nbsp;&nbsp; 5544818 | &nbsp;&nbsp;&nbsp; (5544818) |
| MSCI EAFE Min Vol Factor | &nbsp;&nbsp; 260704346 | &nbsp;&nbsp;&nbsp; (260704346) |

---

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*07/31/23*<br>|
| Global Equity Factor |  |  |
| Ordinary income | &nbsp;&nbsp; $3117451 | &nbsp;&nbsp;&nbsp; $2972728 |
| International Equity Factor |  |  |
| Ordinary income | &nbsp;&nbsp; $37376442 | &nbsp;&nbsp;&nbsp; $24688142 |
| International Small-Cap Equity Factor |  |  |
| Ordinary income | &nbsp;&nbsp; $21886713 | &nbsp;&nbsp;&nbsp; $15328281 |
| MSCI EAFE Min Vol Factor |  |  |
| Ordinary income | &nbsp;&nbsp; $221241346 | &nbsp;&nbsp;&nbsp; $204048443 |

---

As of July 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| Global Equity Factor | &nbsp;&nbsp; $1097197 | &nbsp;&nbsp;&nbsp; $(6528018) | &nbsp;&nbsp;&nbsp; $23223249 | &nbsp;&nbsp;&nbsp; $17792428 |
| International Equity Factor | &nbsp;&nbsp; 8881169 | &nbsp;&nbsp;&nbsp; (162940407) | &nbsp;&nbsp;&nbsp; 137538991 | &nbsp;&nbsp;&nbsp; (16520247) |
| International Small-Cap Equity Factor | &nbsp;&nbsp; 6663080 | &nbsp;&nbsp;&nbsp; (13329180) | &nbsp;&nbsp;&nbsp; 49400614 | &nbsp;&nbsp;&nbsp; 42734514 |
| MSCI EAFE Min Vol Factor | &nbsp;&nbsp; 16537399 | &nbsp;&nbsp;&nbsp; (984937639) | &nbsp;&nbsp;&nbsp; 565752223 | &nbsp;&nbsp;&nbsp; (402648017) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain futures contracts, the timing and recognition of partnership income, the characterization of corporate actions and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies. 

For the year ended July 31, 2024, the iShares Global Equity Factor ETF utilized $2,749,120 of its capital loss carryforwards.

A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as "passive foreign investment companies." Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.

As of July 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Global Equity Factor | &nbsp;&nbsp; $87173581 | &nbsp;&nbsp;&nbsp; $27361574 | &nbsp;&nbsp;&nbsp; $(3957222) | &nbsp;&nbsp;&nbsp; $23404352 |
| International Equity Factor | &nbsp;&nbsp; 987580653 | &nbsp;&nbsp;&nbsp; 193711149 | &nbsp;&nbsp;&nbsp; (56236897) | &nbsp;&nbsp;&nbsp; 137474252 |
| International Small-Cap Equity Factor | &nbsp;&nbsp; 528042113 | &nbsp;&nbsp;&nbsp; 88648503 | &nbsp;&nbsp;&nbsp; (39283466) | &nbsp;&nbsp;&nbsp; 49365037 |
| MSCI EAFE Min Vol Factor | &nbsp;&nbsp; 6038069832 | &nbsp;&nbsp;&nbsp; 966891990 | &nbsp;&nbsp;&nbsp; (402271285) | &nbsp;&nbsp;&nbsp; 564620705 |

---

***9. LINE OF CREDIT***

The iShares Global Equity Factor ETF, along with certain other iShares funds ("Participating Funds"), is a party to a $800 million credit agreement ("Syndicated Credit Agreement") with a group of lenders, which expires on October 16, 2024. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) Daily Simple Secured Overnight Financing Rate ("SOFR") plus 0.10% and 1.00% per annum or (b) the U.S. Federal Funds rate plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund's relative exposure to certain target markets or a Participating Fund's maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

For the year ended July 31, 2024, the maximum amount borrowed, the average daily borrowing and the weighted average interest rate, if any, under the Syndicated Credit Agreement were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Maximum* <br>*Amount* <br>*Borrowed*<br>| &nbsp;&nbsp; *Average* <br>*Borrowing*<br>| &nbsp;&nbsp; *Weighted* <br>*Average* <br>*Interest Rates* <br>|
| Global Equity Factor | &nbsp;&nbsp; $185000 | &nbsp;&nbsp;&nbsp; $5137 | &nbsp;&nbsp;&nbsp;&nbsp;6.41% |

---

***10. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to discretionary liquidity fees under certain circumstances.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore each Fund's results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by each Fund, and each Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker's customers, potentially resulting in losses to the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

Certain Funds invest a significant portion of their assets in issuers located in a single country or a limited number of countries. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions in that country or those countries may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the Fund's portfolio. Unanticipated or sudden political or social developments may cause uncertainty in the markets and as a result adversely affect the Fund's investments. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be more volatile and less liquid than U.S. securities and may be less subject to governmental supervision not typically associated with investing in U.S. securities. Investment percentages in specific countries are presented in the Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the the Funds invest.

Certain Funds invest a significant portion of their assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds' investments.

Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. These events and actions have adversely affected, and may in the future adversely affect**,** the value and exchange rate of the Euro and may continue to significantly affect the economies of every country in Europe, including countries that do not use the Euro and non-European Union member states. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but have been, and may continue to be, significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds' investments.

Certain Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the fund's portfolio. Investment percentages in specific sectors are presented in the Schedule of Investments.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***11. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Year Ended <br>07/31/23 | Year Ended <br>07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| Global Equity Factor |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; $3800080 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— |
| Shares redeemed | &nbsp;&nbsp; (950000)<br>| &nbsp;&nbsp;&nbsp; (37821413)<br>| &nbsp;&nbsp;&nbsp; (200000)<br>| &nbsp;&nbsp;&nbsp; (6755470)<br>|
|  | &nbsp;&nbsp; (850000)<br>| &nbsp;&nbsp;&nbsp; $(34021333)<br>| &nbsp;&nbsp;&nbsp; (200000)<br>| &nbsp;&nbsp;&nbsp; $(6755470)<br>|

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended<br> 07/31/24 | Year Ended<br> 07/31/24 | Year Ended<br> 07/31/23 | Year Ended<br> 07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| International Equity Factor |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp;&nbsp; $168042398 | &nbsp;&nbsp;&nbsp; 5900000 | &nbsp;&nbsp;&nbsp; $144097934 |
| Shares redeemed | &nbsp;&nbsp; (3500000)<br>| &nbsp;&nbsp;&nbsp; (94776022)<br>| &nbsp;&nbsp;&nbsp; (4500000)<br>| &nbsp;&nbsp;&nbsp; (107215801)<br>|
|  | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp;&nbsp; $73266376 | &nbsp;&nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp; $36882133 |
| International Small-Cap Equity Factor |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; $6277815 | &nbsp;&nbsp;&nbsp; 12000000 | &nbsp;&nbsp;&nbsp; $358878061 |
| Shares redeemed | &nbsp;&nbsp; (3000000)<br>| &nbsp;&nbsp;&nbsp; (90539956)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; (2800000)<br>| &nbsp;&nbsp;&nbsp; $(84262141)<br>| &nbsp;&nbsp;&nbsp; 12000000 | &nbsp;&nbsp;&nbsp; $358878061 |
| MSCI EAFE Min Vol Factor |  |  |  |  |
| Shares sold | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; 33000000 | &nbsp;&nbsp;&nbsp; $1899904596 |
| Shares redeemed | &nbsp;&nbsp; (21800000)<br>| &nbsp;&nbsp;&nbsp; (1500405548)<br>| &nbsp;&nbsp;&nbsp; (11100000)<br>| &nbsp;&nbsp;&nbsp; (726284363)<br>|
|  | &nbsp;&nbsp; (21800000)<br>| &nbsp;&nbsp;&nbsp; $(1500405548)<br>| &nbsp;&nbsp;&nbsp; 21900000 | &nbsp;&nbsp;&nbsp; $1173620233 |

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust's administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for Funds using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Fund's custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***12. FOREIGN WITHHOLDING TAX CLAIMS***

The Internal Revenue Service ("IRS") has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which each of the iShares International Equity Factor ETF, iShares International Small-Cap Equity Factor ETF and iShares MSCI EAFE Min Vol Factor ETF are able to pass through to shareholders as a foreign tax credit in the current year, each of the Funds will be able to offset the prior years' withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Funds.

***13. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

2024 iShares Annual Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the four funds listed in the table below

***Opinions on the Financial Statements*** 

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (four of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of July 31, 2024, the related statements of operations for the year ended July 31, 2024, the statements of changes in net assets for each of the two years in the period ended July 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended July 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of July 31, 2024, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended July 31, 2024 and each of the financial highlights for each of the five years in the period ended July 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| iShares Global Equity Factor ETF |
| iShares International Equity Factor ETF |
| iShares International Small-Cap Equity Factor ETF |
| iShares MSCI EAFE Min Vol Factor ETF |

---

***Basis for Opinions*** 

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

September 23, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

Report of Independent Registered Public Accounting Firm

------

Important Tax Information (unaudited)

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Dividend* <br>*Income*<br>|
| Global Equity Factor | &nbsp;&nbsp; $2527399 |
| International Equity Factor | &nbsp;&nbsp; 33694548 |
| International Small-Cap Equity Factor | &nbsp;&nbsp; 15955598 |
| MSCI EAFE Min Vol Factor | &nbsp;&nbsp; 197929173 |

---

The following amount, or maximum amount allowable by law, is hereby designated as qualified business income for individuals for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Business* <br>*Income*<br>|
| Global Equity Factor | &nbsp;&nbsp; $15568 |

---

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended July 31, 2024:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Foreign* <br>*Taxes Paid*<br>|
| International Equity Factor | &nbsp;&nbsp; $37057817 | &nbsp;&nbsp;&nbsp;&nbsp; $1933137 |
| International Small-Cap Equity Factor | &nbsp;&nbsp; 20351097 | &nbsp;&nbsp;&nbsp;&nbsp; 1768733 |
| MSCI EAFE Min Vol Factor | &nbsp;&nbsp; 244601818 | &nbsp;&nbsp;&nbsp;&nbsp; 15695933 |

---

The following percentage, or maximum percentage allowable by law, of ordinary income distributions paid during the fiscal year ended July 31, 2024 qualified for the dividends-received deduction for corporate shareholders:

---

| | |
|:---|:---|
| *iShares ETF* | *Dividends-Received* <br>*Deduction*<br>|
| Global Equity Factor | 27.85<br> %<br>|

---

2024 iShares Annual Financial Statements

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of each Fund's portfolio securities is available in each Fund Prospectus. Each Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at **iShares.com**.

Additional Information

------

Board Review and Approval of Investment Advisory Contract

**iShares Global Equity Factor ETF, iShares International Equity Factor ETF, iShares International Small-Cap Equity Factor ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue,

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares MSCI EAFE Min Vol Factor ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c)

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

Board Review and Approval of Investment Advisory Contract

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| NVDR | Non-Voting Depositary Receipt |
| NVS | Non-Voting Shares |
| PJSC | Public Joint Stock Company |
| REIT | Real Estate Investment Trust |

---

2024 iShares Annual Financial Statements

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc. or STOXX Ltd., nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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July 31, 2024

![](g40991img36034df41.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2024 Annual Financial Statements <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **iShares Trust** |
| • iShares MSCI EAFE Growth ETF \| EFG \| Cboe BZX |
| • iShares MSCI EAFE Value ETF \| EFV \| Cboe BZX |

---

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 16 |
| [Statements of Operations](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 17 |
| [Statements of Changes in Net Assets](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 18 |
| [Financial Highlights](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_FS-Footer-iSharesReport_4)  | &nbsp;&nbsp; 19 |
| [Notes to Financial Statements](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 21 |
| [Report of Independent Registered Public Accounting Firm](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 29 |
| [Important Tax Information](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 30 |
| [Additional Information](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_SAI-Footer-iSharesReport-126_1)  | &nbsp;&nbsp; 31 |
| [Board Review and Approval of Investment Advisory Contract](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_15Cheader-Footer-iSharesReport-126_1)  | &nbsp;&nbsp; 32 |
| [Glossary of Terms Used in this Report](#xx_81bace7b-6fc4-4d52-8d16-eaf493c7e4fe_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 37 |

---

------

Schedule of Investments

July 31, 2024

**iShares® MSCI EAFE Growth ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 7.8%** | **Australia — 7.8%** | **Australia — 7.8%** |
| APA Group | &nbsp;&nbsp; 2292561 | $11882702 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 1019208 | 36298175 |
| ASX Ltd. | &nbsp;&nbsp; 225057 | 9588818 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 1163435 | 2836770 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 279021 | 4051706 |
| Brambles Ltd. | &nbsp;&nbsp; 2484424 | 25327889 |
| CAR Group Ltd. | &nbsp;&nbsp; 639585 | 14627638 |
| Cochlear Ltd. | &nbsp;&nbsp; 116734 | 26376709 |
| Coles Group Ltd. | &nbsp;&nbsp; 1554017 | 18417694 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 2990662 | 269488863 |
| Computershare Ltd. | &nbsp;&nbsp; 955491 | 17233241 |
| CSL Ltd. | &nbsp;&nbsp; 863433 | 175245014 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 2722974 | 9793646 |
| Goodman Group | &nbsp;&nbsp; 3056776 | 70568994 |
| James Hardie Industries PLC<sup>(a)</sup> | &nbsp;&nbsp; 777343 | 27924977 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 3976085 | 12956319 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 649566 | 89396951 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 313758 | 11220855 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 2049432 | 19021042 |
| Orica Ltd. | &nbsp;&nbsp; 868940 | 10224713 |
| Origin Energy Ltd. | &nbsp;&nbsp; 1079955 | 7410080 |
| Pilbara Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5108325 | 9873695 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 102726 | 9692112 |
| Qantas Airways Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1425397 | 6038642 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 1742356 | 20563373 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 328592 | 10006819 |
| REA Group Ltd. | &nbsp;&nbsp; 94378 | 12689089 |
| Reece Ltd. | &nbsp;&nbsp; 404882 | 7337041 |
| SEEK Ltd. | &nbsp;&nbsp; 637164 | 9227145 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 356420 | 9144646 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 815228 | 14774512 |
| South32 Ltd. | &nbsp;&nbsp; 4048559 | 8120173 |
| Transurban Group | &nbsp;&nbsp; 1931854 | 16486046 |
| Treasury Wine Estates Ltd. | &nbsp;&nbsp; 1450232 | 11724429 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 2026005 | 97779453 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 297523 | 18643123 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 1088899 | 24569012 |
| Xero Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 258193 | 23525811 |
|  |  | 1180087917 |
| **Austria — 0.1%** | **Austria — 0.1%** | **Austria — 0.1%** |
| Verbund AG | &nbsp;&nbsp; 121715 | 9773179 |
| **Belgium — 1.4%** | **Belgium — 1.4%** | **Belgium — 1.4%** |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 1605564 | 95329019 |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 106303 | 54351258 |
| D'ieteren Group | &nbsp;&nbsp; 38411 | 8827545 |
| Elia Group SA/NV | &nbsp;&nbsp; 26782 | 2781584 |
| Lotus Bakeries NV | &nbsp;&nbsp; 728 | 7910295 |
| UCB SA | &nbsp;&nbsp; 226357 | 37822962 |
|  |  | 207022663 |
| **Denmark — 6.8%** | **Denmark — 6.8%** | **Denmark — 6.8%** |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 110859 | 13386994 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 225656 | 29335392 |
| Danske Bank A/S | &nbsp;&nbsp; 431308 | 13190470 |
| Demant A/S<sup>(a)</sup> | &nbsp;&nbsp; 178021 | 6825222 |
| DSV A/S | &nbsp;&nbsp; 306045 | 56142307 |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 117923 | 33309900 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 5826437 | 771961448 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 665071 | 42336577 |
| Pandora A/S | &nbsp;&nbsp; 146965 | 23037250 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 1804870 | $44665186 |
|  |  | 1034190746 |
| **Finland — 0.3%** | **Finland — 0.3%** | **Finland — 0.3%** |
| Metso OYJ | &nbsp;&nbsp; 1108812 | 11266121 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 333787 | 11040343 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 897821 | 18553324 |
|  |  | 40859788 |
| **France — 12.2%** | **France — 12.2%** | **France — 12.2%** |
| Accor SA | &nbsp;&nbsp; 346218 | 13323548 |
| Aeroports de Paris SA | &nbsp;&nbsp; 21062 | 2767259 |
| Air Liquide SA | &nbsp;&nbsp; 1031364 | 188181099 |
| Airbus SE | &nbsp;&nbsp; 1061689 | 160661773 |
| BioMerieux | &nbsp;&nbsp; 74168 | 7826687 |
| Bureau Veritas SA | &nbsp;&nbsp; 369057 | 11547502 |
| Capgemini SE | &nbsp;&nbsp; 278022 | 55193885 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 424392 | 16801186 |
| Dassault Aviation SA | &nbsp;&nbsp; 23013 | 4633299 |
| Dassault Systemes SE | &nbsp;&nbsp; 1192883 | 45220720 |
| Edenred SE | &nbsp;&nbsp; 445333 | 18543117 |
| EssilorLuxottica SA | &nbsp;&nbsp; 527084 | 120617725 |
| Eurofins Scientific SE | &nbsp;&nbsp; 241216 | 14280921 |
| Getlink SE | &nbsp;&nbsp; 189251 | 3372424 |
| Hermes International SCA | &nbsp;&nbsp; 56588 | 123663716 |
| Ipsen SA | &nbsp;&nbsp; 23788 | 2670920 |
| Kering SA | &nbsp;&nbsp; 132712 | 40760864 |
| Legrand SA | &nbsp;&nbsp; 306013 | 33063759 |
| L'Oreal SA | &nbsp;&nbsp; 429929 | 185921695 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 492361 | 347292840 |
| Remy Cointreau SA | &nbsp;&nbsp; 41551 | 3278609 |
| Safran SA | &nbsp;&nbsp; 610709 | 134168270 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 52194 | 10415345 |
| Schneider Electric SE | &nbsp;&nbsp; 971611 | 234192419 |
| STMicroelectronics NV | &nbsp;&nbsp; 1226280 | 40544291 |
| Thales SA | &nbsp;&nbsp; 168679 | 26812109 |
| Vivendi SE | &nbsp;&nbsp; 452924 | 4833041 |
|  |  | 1850589023 |
| **Germany — 7.0%** | **Germany — 7.0%** | **Germany — 7.0%** |
| adidas AG | &nbsp;&nbsp; 289666 | 72589505 |
| Bechtle AG<sup>(b)</sup> | &nbsp;&nbsp; 146648 | 6480900 |
| Beiersdorf AG | &nbsp;&nbsp; 179696 | 26082339 |
| Brenntag SE | &nbsp;&nbsp; 232011 | 16504407 |
| Carl Zeiss Meditec AG, Bearer | &nbsp;&nbsp; 72134 | 4935016 |
| Covestro AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 337358 | 19859873 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 72703 | 6403954 |
| Delivery Hero SE, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 343110 | 7633573 |
| Deutsche Boerse AG | &nbsp;&nbsp; 342634 | 70160630 |
| Hannover Rueck SE | &nbsp;&nbsp; 107494 | 26689741 |
| Infineon Technologies AG | &nbsp;&nbsp; 2349847 | 81629311 |
| Knorr-Bremse AG | &nbsp;&nbsp; 65064 | 5232175 |
| Merck KGaA | &nbsp;&nbsp; 230357 | 41158409 |
| MTU Aero Engines AG | &nbsp;&nbsp; 48054 | 13607145 |
| Nemetschek SE | &nbsp;&nbsp; 103211 | 9858312 |
| Puma SE | &nbsp;&nbsp; 188798 | 9368744 |
| Qiagen NV, NVS | &nbsp;&nbsp; 394665 | 17560200 |
| Rational AG | &nbsp;&nbsp; 9126 | 7988690 |
| Rheinmetall AG | &nbsp;&nbsp; 77634 | 42283846 |
| SAP SE | &nbsp;&nbsp; 1864373 | 394166179 |
| Scout24 SE<sup>(c)</sup> | &nbsp;&nbsp; 134036 | 10596540 |
| Siemens AG, Registered | &nbsp;&nbsp; 474877 | 86948546 |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 535457 | 15548888 |
| Siemens Healthineers AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 502994 | 26960029 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Growth ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Symrise AG, Class A | &nbsp;&nbsp; 236678 | $29828851 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 40710 | 3092796 |
| Zalando SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 400709 | 10267876 |
|  |  | 1063436475 |
| **Hong Kong — 1.7%** | **Hong Kong — 1.7%** | **Hong Kong — 1.7%** |
| AIA Group Ltd. | &nbsp;&nbsp; 13041600 | 87233379 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 1135500 | 7573499 |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 100033 | 6330088 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 3906000 | 16420519 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 19990000 | 16289302 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 2126000 | 62710664 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 2775000 | 8977387 |
| Sands China Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4336000 | 8128413 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 2397000 | 5349570 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 2456500 | 31459637 |
| WH Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 5426000 | 3527137 |
| Wharf Holdings Ltd. (The)<sup>(b)</sup> | &nbsp;&nbsp; 1211000 | 3320377 |
|  |  | 257319972 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 181340 | 16954516 |
| Kingspan Group PLC | &nbsp;&nbsp; 277853 | 25997088 |
|  |  | 42951604 |
| **Israel — 0.7%** | **Israel — 0.7%** | **Israel — 0.7%** |
| Check Point Software Technologies Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 161022 | 29539486 |
| CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 75501 | 19356946 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 31064 | 5559992 |
| Global-e Online Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 178967 | 6142148 |
| Monday.com Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 65511 | 15055083 |
| Nice Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 112191 | 20249252 |
| Wix.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 94012 | 14658821 |
|  |  | 110561728 |
| **Italy — 1.7%** | **Italy — 1.7%** | **Italy — 1.7%** |
| Amplifon SpA | &nbsp;&nbsp; 222878 | 7078694 |
| Davide Campari-Milano NV | &nbsp;&nbsp; 1100295 | 9922979 |
| DiaSorin SpA | &nbsp;&nbsp; 40216 | 4386396 |
| Ferrari NV | &nbsp;&nbsp; 225270 | 92714958 |
| Infrastrutture Wireless Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 602139 | 6700133 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 9129058 | 37071573 |
| Moncler SpA | &nbsp;&nbsp; 393580 | 23467626 |
| Prysmian SpA | &nbsp;&nbsp; 470470 | 32342223 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 186961 | 10178749 |
| Tenaris SA, NVS | &nbsp;&nbsp; 296861 | 4710242 |
| UniCredit SpA | &nbsp;&nbsp; 944364 | 38789468 |
|  |  | 267363041 |
| **Japan — 23.3%** | **Japan — 23.3%** | **Japan — 23.3%** |
| Advantest Corp. | &nbsp;&nbsp; 1390500 | 61545427 |
| Aeon Co. Ltd. | &nbsp;&nbsp; 1166800 | 26622387 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 837600 | 34496761 |
| Asics Corp. | &nbsp;&nbsp; 1153800 | 18830396 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 537100 | 11413777 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 618500 | 13213582 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 1199300 | 52340418 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 543100 | 9829178 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 806400 | 24587375 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 3305000 | 134604927 |
| Daikin Industries Ltd. | &nbsp;&nbsp; 472000 | 68443093 |
| Denso Corp. | &nbsp;&nbsp; 3383000 | 55477838 |
| Dentsu Group Inc. | &nbsp;&nbsp; 231800 | 6129536 |
| Disco Corp. | &nbsp;&nbsp; 164100 | 54874474 |
| FANUC Corp. | &nbsp;&nbsp; 847800 | 25134515 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 312300 | 86085101 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 224900 | $12649928 |
| Fujitsu Ltd. | &nbsp;&nbsp; 2039000 | 37028562 |
| Hamamatsu Photonics KK | &nbsp;&nbsp; 251300 | 7237174 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 22000 | 4119594 |
| Hitachi Ltd. | &nbsp;&nbsp; 8269000 | 178665494 |
| Hoshizaki Corp. | &nbsp;&nbsp; 191600 | 6034213 |
| Hoya Corp. | &nbsp;&nbsp; 625800 | 78413199 |
| Ibiden Co. Ltd. | &nbsp;&nbsp; 197400 | 7651653 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 576000 | 13523564 |
| Kao Corp. | &nbsp;&nbsp; 412800 | 18076376 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 79200 | 2368798 |
| Keyence Corp. | &nbsp;&nbsp; 347148 | 151793977 |
| Kikkoman Corp. | &nbsp;&nbsp; 1209300 | 15133112 |
| Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp; 324200 | 7508531 |
| Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 265900 | 7139109 |
| Konami Group Corp. | &nbsp;&nbsp; 179800 | 13528077 |
| Kubota Corp. | &nbsp;&nbsp; 1781300 | 25609592 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 480200 | 10128665 |
| Lasertec Corp. | &nbsp;&nbsp; 143700 | 25497144 |
| M3 Inc. | &nbsp;&nbsp; 787900 | 7356824 |
| Makita Corp. | &nbsp;&nbsp; 258900 | 8533971 |
| Marubeni Corp. | &nbsp;&nbsp; 886900 | 16691247 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 303300 | 4946184 |
| McDonald's Holdings Co. Japan Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 152500 | 6317944 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 649400 | 15620872 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 700900 | 11946089 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 2856200 | 34234629 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 2988600 | 69347132 |
| MonotaRO Co. Ltd. | &nbsp;&nbsp; 445900 | 6303375 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 1536200 | 34177337 |
| NEC Corp. | &nbsp;&nbsp; 426800 | 36941518 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 596500 | 12847836 |
| Nidec Corp. | &nbsp;&nbsp; 741700 | 32627876 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 1208400 | 66774238 |
| Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp; 1692300 | 10802751 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 305700 | 9990807 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 359200 | 10680015 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 143500 | 17549395 |
| Nitto Denko Corp. | &nbsp;&nbsp; 255900 | 22220684 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 671070 | 20717066 |
| NTT Data Group Corp. | &nbsp;&nbsp; 1126900 | 17550810 |
| Obic Co. Ltd. | &nbsp;&nbsp; 115000 | 17535554 |
| Olympus Corp. | &nbsp;&nbsp; 2057400 | 35519124 |
| Oracle Corp./Japan | &nbsp;&nbsp; 69600 | 5681391 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 1264800 | 36210595 |
| Otsuka Corp. | &nbsp;&nbsp; 206400 | 4575429 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 743100 | 37874545 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 682200 | 17798057 |
| Rakuten Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1740000 | 10208014 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 2648100 | 151850770 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 2712300 | 46716310 |
| SBI Holdings Inc. | &nbsp;&nbsp; 169900 | 4416319 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 146100 | 12380471 |
| SCSK Corp. | &nbsp;&nbsp; 181600 | 3575324 |
| Secom Co. Ltd. | &nbsp;&nbsp; 132200 | 8441333 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 4005800 | 47968464 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 574500 | 5841888 |
| Shimadzu Corp. | &nbsp;&nbsp; 425500 | 12549816 |
| Shimano Inc. | &nbsp;&nbsp; 136900 | 24286610 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 3218300 | 142991236 |
| Shiseido Co. Ltd. | &nbsp;&nbsp; 250900 | 7840986 |
| SMC Corp. | &nbsp;&nbsp; 103800 | 50505464 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Growth ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| SoftBank Group Corp. | &nbsp;&nbsp; 920200 | $56235644 |
| Sony Group Corp. | &nbsp;&nbsp; 2231300 | 198180931 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 220200 | 6714794 |
| Sysmex Corp. | &nbsp;&nbsp; 898200 | 14704671 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 1836600 | 51561196 |
| TDK Corp. | &nbsp;&nbsp; 693500 | 48380154 |
| Terumo Corp. | &nbsp;&nbsp; 2389000 | 42830827 |
| TIS Inc. | &nbsp;&nbsp; 188200 | 4031513 |
| Toho Co. Ltd./Tokyo | &nbsp;&nbsp; 70500 | 2531812 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 3348900 | 131387748 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 842800 | 176353667 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 414600 | 9083731 |
| Toyota Industries Corp. | &nbsp;&nbsp; 260400 | 21891853 |
| Toyota Motor Corp. | &nbsp;&nbsp; 12306700 | 236421000 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 237000 | 11359999 |
| Unicharm Corp. | &nbsp;&nbsp; 721800 | 24180731 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 555600 | 5173734 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 451600 | 5484720 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 430100 | 14969121 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 406100 | 10279298 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 171500 | 6980701 |
| ZOZO Inc. | &nbsp;&nbsp; 241100 | 7058185 |
|  |  | 3550477877 |
| **Netherlands — 6.8%** | **Netherlands — 6.8%** | **Netherlands — 6.8%** |
| Adyen NV<sup>(a)(c)</sup> | &nbsp;&nbsp; 39318 | 48095277 |
| Akzo Nobel NV | &nbsp;&nbsp; 306247 | 18935928 |
| ASM International NV | &nbsp;&nbsp; 71657 | 49301519 |
| ASML Holding NV | &nbsp;&nbsp; 713997 | 664853522 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 142665 | 18378763 |
| Heineken NV | &nbsp;&nbsp; 521193 | 46251058 |
| IMCD NV | &nbsp;&nbsp; 102575 | 14749611 |
| InPost SA<sup>(a)</sup> | &nbsp;&nbsp; 362805 | 6285790 |
| Koninklijke Philips NV<sup>(a)</sup> | &nbsp;&nbsp; 507390 | 14252423 |
| OCI NV | &nbsp;&nbsp; 194270 | 4681982 |
| Prosus NV | &nbsp;&nbsp; 1284949 | 44823238 |
| Universal Music Group NV | &nbsp;&nbsp; 1492524 | 35558598 |
| Wolters Kluwer NV | &nbsp;&nbsp; 447906 | 74983624 |
|  |  | 1041151333 |
| **New Zealand — 0.2%** | **New Zealand — 0.2%** | **New Zealand — 0.2%** |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 1047585 | 20223452 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 2315327 | 8956783 |
|  |  | 29180235 |
| **Norway — 0.2%** | **Norway — 0.2%** | **Norway — 0.2%** |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 157097 | 15796831 |
| Salmar ASA | &nbsp;&nbsp; 41343 | 2378662 |
| Yara International ASA | &nbsp;&nbsp; 296098 | 8434750 |
|  |  | 26610243 |
| **Portugal — 0.2%** | **Portugal — 0.2%** | **Portugal — 0.2%** |
| Galp Energia SGPS SA | &nbsp;&nbsp; 829663 | 17444834 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 506221 | 8847901 |
|  |  | 26292735 |
| **Singapore — 1.3%** | **Singapore — 1.3%** | **Singapore — 1.3%** |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 3560140 | 97559978 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 10789400 | 6856156 |
| Grab Holdings Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 3749212 | 12372400 |
| Keppel Ltd. | &nbsp;&nbsp; 2600000 | 12939850 |
| Sea Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 654911 | 43027653 |
| Sembcorp Industries Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1595000 | 5703033 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 1522472 | 11225037 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 2817900 | 9329439 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Singapore (continued)** | **Singapore (continued)** | **Singapore (continued)** |
| Wilmar International Ltd. | &nbsp;&nbsp; 1211200 | $2888147 |
|  |  | 201901693 |
| **Spain — 1.6%** | **Spain — 1.6%** | **Spain — 1.6%** |
| Aena SME SA<sup>(c)</sup> | &nbsp;&nbsp; 133755 | 25413269 |
| Amadeus IT Group SA | &nbsp;&nbsp; 806372 | 53108323 |
| Cellnex Telecom SA<sup>(c)</sup> | &nbsp;&nbsp; 885384 | 30879279 |
| Ferrovial SE | &nbsp;&nbsp; 927778 | 36893795 |
| Grifols SA<sup>(a)</sup> | &nbsp;&nbsp; 535087 | 5404670 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 1949021 | 94700712 |
|  |  | 246400048 |
| **Sweden — 4.0%** | **Sweden — 4.0%** | **Sweden — 4.0%** |
| Alfa Laval AB | &nbsp;&nbsp; 516205 | 22824541 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 1791174 | 54548946 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 4799316 | 85416579 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 2789006 | 43636541 |
| Beijer Ref AB, Class B | &nbsp;&nbsp; 643641 | 10220781 |
| Epiroc AB | &nbsp;&nbsp; 1175754 | 21945886 |
| Epiroc AB, Class B | &nbsp;&nbsp; 696706 | 11714703 |
| EQT AB | &nbsp;&nbsp; 666936 | 21595309 |
| Essity AB, Class B | &nbsp;&nbsp; 1086826 | 30557543 |
| Evolution AB<sup>(c)</sup> | &nbsp;&nbsp; 327967 | 31769915 |
| Getinge AB, Class B | &nbsp;&nbsp; 144789 | 2827419 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 1024897 | 15944777 |
| Hexagon AB, Class B | &nbsp;&nbsp; 3700845 | 37691050 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 629231 | 4249288 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 76222 | 2614733 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 99189 | 3362222 |
| Indutrade AB | &nbsp;&nbsp; 488250 | 14357018 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 265069 | 7784133 |
| Investor AB, Class B | &nbsp;&nbsp; 3090311 | 87734292 |
| Lifco AB, Class B | &nbsp;&nbsp; 416517 | 12356602 |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 2707420 | 11897065 |
| Saab AB | &nbsp;&nbsp; 571880 | 13205290 |
| Sagax AB, Class B | &nbsp;&nbsp; 392618 | 9699386 |
| Sandvik AB | &nbsp;&nbsp; 1235511 | 25293160 |
| Swedish Orphan Biovitrum AB<sup>(a)</sup> | &nbsp;&nbsp; 348508 | 9105492 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 384425 | 14286221 |
|  |  | 606638892 |
| **Switzerland — 9.5%** | **Switzerland — 9.5%** | **Switzerland — 9.5%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 2858094 | 158643109 |
| Alcon Inc. | &nbsp;&nbsp; 892025 | 84460970 |
| Avolta AG, Registered | &nbsp;&nbsp; 163598 | 6172786 |
| Bachem Holding AG | &nbsp;&nbsp; 60451 | 5424977 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 4113 | 6617865 |
| BKW AG | &nbsp;&nbsp; 37744 | 6827566 |
| Chocoladefabriken Lindt & Spruengli AG, <br> Participation Certificates, NVS<br>| &nbsp;&nbsp; 1738 | 21783398 |
| Chocoladefabriken Lindt & Spruengli <br> AG, Registered<br>| &nbsp;&nbsp; 194 | 24022705 |
| Cie. Financiere Richemont SA, Class A, Registered | &nbsp;&nbsp; 958004 | 146125606 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 4380 | 3662713 |
| Geberit AG, Registered | &nbsp;&nbsp; 29804 | 18975197 |
| Givaudan SA, Registered | &nbsp;&nbsp; 16484 | 80871402 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 141083 | 7721137 |
| Logitech International SA, Registered | &nbsp;&nbsp; 277615 | 25006483 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 133126 | 88649823 |
| Nestle SA, Registered | &nbsp;&nbsp; 3092929 | 313290797 |
| Partners Group Holding AG | &nbsp;&nbsp; 41055 | 55261784 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 57087 | 20078175 |
| Schindler Holding AG, Participation <br> Certificates, NVS<br>| &nbsp;&nbsp; 36332 | 9724404 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Growth ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 20960 | $5502827 |
| SGS SA | &nbsp;&nbsp; 93677 | 10242013 |
| SIG Group AG | &nbsp;&nbsp; 355089 | 7456899 |
| Sika AG, Registered | &nbsp;&nbsp; 272155 | 82630645 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 90358 | 27697976 |
| Straumann Holding AG | &nbsp;&nbsp; 199019 | 25663840 |
| Temenos AG, Registered | &nbsp;&nbsp; 74281 | 5157960 |
| UBS Group AG, Registered | &nbsp;&nbsp; 5872099 | 177928547 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 48136 | 24122677 |
|  |  | 1449724281 |
| **United Kingdom — 12.4%** | **United Kingdom — 12.4%** | **United Kingdom — 12.4%** |
| Admiral Group PLC | &nbsp;&nbsp; 231941 | 8219896 |
| Antofagasta PLC | &nbsp;&nbsp; 351310 | 9147829 |
| Ashtead Group PLC | &nbsp;&nbsp; 782405 | 56464135 |
| AstraZeneca PLC | &nbsp;&nbsp; 2768535 | 439839298 |
| Auto Trader Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 1615731 | 16924557 |
| BAE Systems PLC | &nbsp;&nbsp; 5400496 | 90070037 |
| Bunzl PLC | &nbsp;&nbsp; 210798 | 8832300 |
| Burberry Group PLC | &nbsp;&nbsp; 638888 | 6393874 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 195391 | 7129801 |
| Compass Group PLC | &nbsp;&nbsp; 3039461 | 93600224 |
| Diageo PLC | &nbsp;&nbsp; 3975241 | 123689497 |
| Endeavour Mining PLC | &nbsp;&nbsp; 327413 | 7313594 |
| Experian PLC | &nbsp;&nbsp; 1639348 | 77344454 |
| Flutter Entertainment PLC<sup>(a)</sup> | &nbsp;&nbsp; 317374 | 62778401 |
| GSK PLC | &nbsp;&nbsp; 7405554 | 143806840 |
| Haleon PLC | &nbsp;&nbsp; 6126096 | 27478003 |
| Halma PLC | &nbsp;&nbsp; 679610 | 23262077 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 290748 | 29291587 |
| Intertek Group PLC | &nbsp;&nbsp; 186923 | 12138396 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 4617586 | 7812238 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 813401 | 99011776 |
| Melrose Industries PLC | &nbsp;&nbsp; 2350300 | 17797198 |
| Mondi PLC, NVS | &nbsp;&nbsp; 511199 | 9994789 |
| Next PLC | &nbsp;&nbsp; 215237 | 25156836 |
| NMC Health PLC, NVS<sup>(d)</sup> | &nbsp;&nbsp; 50450 | 1 |
| Prudential PLC | &nbsp;&nbsp; 4912765 | 44334692 |
| RELX PLC | &nbsp;&nbsp; 3354005 | 158300601 |
| Rentokil Initial PLC | &nbsp;&nbsp; 4515818 | 27574287 |
| Rolls-Royce Holdings PLC<sup>(a)</sup> | &nbsp;&nbsp; 15021859 | 86979599 |
| Sage Group PLC (The) | &nbsp;&nbsp; 1797961 | 25132896 |
| Severn Trent PLC | &nbsp;&nbsp; 239845 | 7929194 |
| Smith & Nephew PLC | &nbsp;&nbsp; 778933 | 11226623 |
| Spirax Group PLC | &nbsp;&nbsp; 131170 | 15313705 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Unilever PLC | &nbsp;&nbsp; 1565012 | $96177303 |
| Wise PLC, Class A<sup>(a)</sup> | &nbsp;&nbsp; 1095566 | 10087519 |
|  |  | 1886554057 |
| **Total Common Stocks — 99.5%** <br>**(Cost: $13,310,003,875)** | **Total Common Stocks — 99.5%** <br>**(Cost: $13,310,003,875)** | 15129087530 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.2%** | **Germany — 0.2%** | **Germany — 0.2%** |
| Dr Ing hc F Porsche AG, Preference Shares, NVS<sup>(c)</sup> | &nbsp;&nbsp; 203263 | 15305847 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 46826 | 13280878 |
|  |  | 28586725 |
| **Total Preferred Stocks — 0.2%** <br>**(Cost: $34,979,010)** | **Total Preferred Stocks — 0.2%** <br>**(Cost: $34,979,010)** | 28586725 |
| **Total Long-Term Investments — 99.7%** <br>**(Cost: $13,344,982,885)** | **Total Long-Term Investments — 99.7%** <br>**(Cost: $13,344,982,885)** | 15157674255 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.3%** | **Money Market Funds — 0.3%** | **Money Market Funds — 0.3%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp; 36003048 | 36017449 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(e)(f)</sup><br>| &nbsp;&nbsp; 4690000 | 4690000 |
| **Total Short-Term Securities — 0.3%** <br>**(Cost: $40,693,915)** | **Total Short-Term Securities — 0.3%** <br>**(Cost: $40,693,915)** | 40707449 |
| **Total Investments — 100.0%** <br>**(Cost: $13,385,676,800)** | **Total Investments — 100.0%** <br>**(Cost: $13,385,676,800)** | 15198381704 |
| **Other Assets Less Liabilities — 0.0%** | **Other Assets Less Liabilities — 0.0%** | 6456427 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $15204838131 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Annualized 7-day yield as of period end.

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

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Growth ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $66747566 | $— | &nbsp;&nbsp; $(30736827 )<sup>(a)</sup><br>| &nbsp;&nbsp; $10888 | $(4178)<br>| $36017449 | 36003048 | $116113 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 3720000 | 970000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 4690000 | 4690000 | 288367 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $10888 | $(4178)<br>| $40707449 |  | $404480 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 83 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $15341 | &nbsp;&nbsp; $(96425)<br>|
| Euro STOXX 50 Index | &nbsp;&nbsp; 430 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 22803 | &nbsp;&nbsp; (42212)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 4409 | &nbsp;&nbsp; 94602 |
|  |  |  |  | &nbsp;&nbsp; $(44035)<br>|

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $94602 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $94602 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $138637 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $138637 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Growth ETF**

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5724443 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5724443 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1418063)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1418063)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $52741037 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $181303096 | &nbsp;&nbsp; $14947784433 | &nbsp;&nbsp; $1 | &nbsp;&nbsp; $15129087530 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 28586725 | &nbsp;&nbsp; — | &nbsp;&nbsp; 28586725 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 40707449 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 40707449 |
|  | &nbsp;&nbsp; $222010545 | &nbsp;&nbsp; $14976371158 | &nbsp;&nbsp; $1 | &nbsp;&nbsp; $15198381704 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $94602 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $94602 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (138637)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (138637)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(44035)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(44035)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® MSCI EAFE Value ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 7.1%** | **Australia — 7.1%** | **Australia — 7.1%** |
| Ampol Ltd. | &nbsp;&nbsp; 416273 | $9118440 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 5265195 | 100170541 |
| ASX Ltd. | &nbsp;&nbsp; 120767 | 5145420 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 2085523 | 5085071 |
| BHP Group Ltd. | &nbsp;&nbsp; 8878638 | 246603677 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 503258 | 7307886 |
| Coles Group Ltd. | &nbsp;&nbsp; 826377 | 9793946 |
| Dexus | &nbsp;&nbsp; 1877907 | 8658195 |
| Fortescue Ltd. | &nbsp;&nbsp; 2967562 | 36924864 |
| GPT Group (The) | &nbsp;&nbsp; 3375988 | 10283322 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 4180483 | 20224773 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 4811305 | 12525476 |
| Mirvac Group | &nbsp;&nbsp; 6957198 | 9795785 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 5431946 | 137192822 |
| Origin Energy Ltd. | &nbsp;&nbsp; 1976928 | 13564634 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 920579 | 10864719 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 650873 | 50014446 |
| Santos Ltd. | &nbsp;&nbsp; 5675819 | 29587514 |
| Scentre Group | &nbsp;&nbsp; 9095163 | 20740860 |
| South32 Ltd. | &nbsp;&nbsp; 3949880 | 7922253 |
| Stockland | &nbsp;&nbsp; 4211585 | 12720713 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 2206289 | 25670438 |
| Telstra Group Ltd. | &nbsp;&nbsp; 7084097 | 18307175 |
| Transurban Group | &nbsp;&nbsp; 3505853 | 29918231 |
| Vicinity Ltd. | &nbsp;&nbsp; 6752767 | 9363383 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 413692 | 9628846 |
| Westpac Banking Corp. | &nbsp;&nbsp; 6080601 | 118831969 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 3324244 | 60284518 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 1065312 | 24036814 |
|  |  | 1060286731 |
| **Austria — 0.3%** | **Austria — 0.3%** | **Austria — 0.3%** |
| Erste Group Bank AG | &nbsp;&nbsp; 589508 | 30664001 |
| OMV AG | &nbsp;&nbsp; 257290 | 10765039 |
| voestalpine AG | &nbsp;&nbsp; 186613 | 4786035 |
|  |  | 46215075 |
| **Belgium — 0.6%** | **Belgium — 0.6%** | **Belgium — 0.6%** |
| Ageas SA/NV | &nbsp;&nbsp; 281819 | 13454385 |
| Elia Group SA/NV | &nbsp;&nbsp; 26395 | 2741390 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 154702 | 11545270 |
| KBC Group NV | &nbsp;&nbsp; 438739 | 33934671 |
| Sofina SA | &nbsp;&nbsp; 26896 | 6354909 |
| Syensqo SA | &nbsp;&nbsp; 130139 | 11507903 |
| Umicore SA | &nbsp;&nbsp; 366663 | 5035779 |
| Warehouses De Pauw CVA | &nbsp;&nbsp; 306117 | 8292454 |
|  |  | 92866761 |
| **Denmark — 0.6%** | **Denmark — 0.6%** | **Denmark — 0.6%** |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 5321 | 8643620 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 7845 | 12978282 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 58363 | 7047738 |
| Danske Bank A/S | &nbsp;&nbsp; 783117 | 23949664 |
| Orsted A/S<sup>(a)(b)</sup> | &nbsp;&nbsp; 332572 | 19822622 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 16263 | 7188451 |
| Tryg A/S | &nbsp;&nbsp; 615640 | 13478885 |
|  |  | 93109262 |
| **Finland — 1.7%** | **Finland — 1.7%** | **Finland — 1.7%** |
| Elisa OYJ | &nbsp;&nbsp; 248025 | 11548395 |
| Fortum OYJ | &nbsp;&nbsp; 791018 | 12163470 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 482194 | 8722263 |
| Kone OYJ, Class B | &nbsp;&nbsp; 593997 | 30332206 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Finland (continued)** | **Finland (continued)** | **Finland (continued)** |
| Neste OYJ | &nbsp;&nbsp; 743146 | $14998788 |
| Nokia OYJ | &nbsp;&nbsp; 9336076 | 36689850 |
| Nordea Bank Abp | &nbsp;&nbsp; 5523452 | 64633972 |
| Orion OYJ, Class B | &nbsp;&nbsp; 188350 | 8657160 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 787483 | 34519392 |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 1020588 | 12758488 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 608123 | 20114285 |
|  |  | 255138269 |
| **France — 10.1%** | **France — 10.1%** | **France — 10.1%** |
| Aeroports de Paris SA | &nbsp;&nbsp; 39332 | 5167687 |
| Alstom SA<sup>(b)</sup> | &nbsp;&nbsp; 604032 | 11834558 |
| Amundi SA<sup>(a)</sup> | &nbsp;&nbsp; 107165 | 7820974 |
| ArcelorMittal SA | &nbsp;&nbsp; 825564 | 18798657 |
| Arkema SA | &nbsp;&nbsp; 104710 | 9449328 |
| AXA SA | &nbsp;&nbsp; 3179503 | 111631720 |
| BNP Paribas SA | &nbsp;&nbsp; 1807981 | 123871501 |
| Bollore SE | &nbsp;&nbsp; 1242206 | 7732532 |
| Bouygues SA | &nbsp;&nbsp; 333933 | 11529370 |
| Bureau Veritas SA | &nbsp;&nbsp; 193997 | 6070013 |
| Carrefour SA | &nbsp;&nbsp; 994481 | 14834902 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 797974 | 68454786 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 772903 | 30598332 |
| Covivio SA/France | &nbsp;&nbsp; 87966 | 4528243 |
| Credit Agricole SA | &nbsp;&nbsp; 1854088 | 28136644 |
| Danone SA | &nbsp;&nbsp; 1127237 | 73231004 |
| Dassault Aviation SA | &nbsp;&nbsp; 12028 | 2421645 |
| Eiffage SA | &nbsp;&nbsp; 129002 | 12838501 |
| Engie SA | &nbsp;&nbsp; 3197557 | 50266113 |
| Eurazeo SE | &nbsp;&nbsp; 80337 | 6320530 |
| Euronext NV<sup>(a)</sup> | &nbsp;&nbsp; 141051 | 14260671 |
| Gecina SA | &nbsp;&nbsp; 80244 | 7955207 |
| Getlink SE | &nbsp;&nbsp; 342986 | 6111959 |
| Ipsen SA | &nbsp;&nbsp; 42759 | 4800987 |
| Klepierre SA | &nbsp;&nbsp; 378632 | 10841962 |
| La Francaise des Jeux SAEM<sup>(a)</sup> | &nbsp;&nbsp; 183386 | 7115143 |
| Legrand SA | &nbsp;&nbsp; 161897 | 17492471 |
| Orange SA | &nbsp;&nbsp; 3259839 | 36175297 |
| Pernod Ricard SA | &nbsp;&nbsp; 358619 | 47985778 |
| Publicis Groupe SA | &nbsp;&nbsp; 401056 | 41868817 |
| Renault SA | &nbsp;&nbsp; 336552 | 16310029 |
| Rexel SA | &nbsp;&nbsp; 396820 | 10081963 |
| Sanofi SA | &nbsp;&nbsp; 1992833 | 205446084 |
| SEB SA | &nbsp;&nbsp; 44289 | 4431906 |
| Societe Generale SA | &nbsp;&nbsp; 1265754 | 32829814 |
| Sodexo SA | &nbsp;&nbsp; 156201 | 14793375 |
| Teleperformance SE | &nbsp;&nbsp; 94902 | 12217242 |
| TotalEnergies SE | &nbsp;&nbsp; 3754698 | 253315546 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 207122 | 15488836 |
| Veolia Environnement SA | &nbsp;&nbsp; 1206467 | 37899596 |
| Vinci SA | &nbsp;&nbsp; 877338 | 100119999 |
| Vivendi SE | &nbsp;&nbsp; 825371 | 8807331 |
|  |  | 1511887053 |
| **Germany — 9.3%** | **Germany — 9.3%** | **Germany — 9.3%** |
| Allianz SE, Registered | &nbsp;&nbsp; 684659 | 192844743 |
| BASF SE | &nbsp;&nbsp; 1562523 | 72746599 |
| Bayer AG, Registered | &nbsp;&nbsp; 1719912 | 51168564 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 558824 | 51830435 |
| Commerzbank AG | &nbsp;&nbsp; 1841898 | 30027492 |
| Continental AG | &nbsp;&nbsp; 193236 | 11846101 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 37912 | 3339432 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 934632 | 36085155 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Value ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 3317484 | $51638213 |
| Deutsche Lufthansa AG, Registered | &nbsp;&nbsp; 1044256 | 6544126 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 1735359 | 77406611 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 5674308 | 148425612 |
| E.ON SE | &nbsp;&nbsp; 3934757 | 55177566 |
| Evonik Industries AG | &nbsp;&nbsp; 449499 | 9103118 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 360041 | 13893208 |
| Fresenius SE & Co. KGaA<sup>(b)</sup> | &nbsp;&nbsp; 737897 | 26439408 |
| GEA Group AG | &nbsp;&nbsp; 272448 | 12030067 |
| Heidelberg Materials AG | &nbsp;&nbsp; 239058 | 24904866 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 182289 | 14124276 |
| Knorr-Bremse AG | &nbsp;&nbsp; 63139 | 5077375 |
| LEG Immobilien SE | &nbsp;&nbsp; 130298 | 11366087 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 1404709 | 92857478 |
| MTU Aero Engines AG | &nbsp;&nbsp; 47257 | 13381463 |
| Muenchener Rueckversicherungs-Gesellschaft AG <br> in Muenchen, Registered<br>| &nbsp;&nbsp; 238912 | 117670076 |
| RWE AG | &nbsp;&nbsp; 1106895 | 41310319 |
| Siemens AG, Registered | &nbsp;&nbsp; 864837 | 158349045 |
| Siemens Energy AG<sup>(b)</sup> | &nbsp;&nbsp; 528825 | 15356305 |
| Talanx AG<sup>(b)</sup> | &nbsp;&nbsp; 73180 | 5559588 |
| Volkswagen AG | &nbsp;&nbsp; 52347 | 6176372 |
| Vonovia SE | &nbsp;&nbsp; 1283566 | 39354388 |
|  |  | 1396034088 |
| **Hong Kong — 1.8%** | **Hong Kong — 1.8%** | **Hong Kong — 1.8%** |
| AIA Group Ltd. | &nbsp;&nbsp; 6850000 | 45818660 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 6506000 | 18928046 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 3400000 | 12991637 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 4658000 | 24333895 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 2886000 | 24769430 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 1344900 | 16469409 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 2545794 | 7150683 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 6614000 | 8010627 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 1929600 | 6231859 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 275300 | 9698526 |
| Link REIT | &nbsp;&nbsp; 4487860 | 18934375 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 2498000 | 15920930 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 6792000 | 7025360 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 2525000 | 21862770 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 742000 | 6401068 |
| Swire Properties Ltd. | &nbsp;&nbsp; 2055400 | 3246153 |
| WH Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 9425000 | 6126662 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 666276 | 1826827 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 2923419 | 7186988 |
|  |  | 262933905 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| AIB Group PLC | &nbsp;&nbsp; 2983334 | 17112656 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 1821299 | 20626094 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 95456 | 8924729 |
|  |  | 46663479 |
| **Israel — 0.7%** | **Israel — 0.7%** | **Israel — 0.7%** |
| Azrieli Group Ltd. | &nbsp;&nbsp; 73887 | 4534991 |
| Bank Hapoalim BM | &nbsp;&nbsp; 2214645 | 20322324 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 2655038 | 22879763 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 16008 | 2865193 |
| ICL Group Ltd. | &nbsp;&nbsp; 1348254 | 5643893 |
| Isracard Ltd. | &nbsp;&nbsp; 1 | 2 |
| Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 2159513 | 11024344 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 270228 | 9751519 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(b)</sup> | &nbsp;&nbsp; 1962006 | 34197765 |
|  |  | 111219794 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy — 3.6%** | **Italy — 3.6%** | **Italy — 3.6%** |
| Banco BPM SpA | &nbsp;&nbsp; 2277039 | $15765467 |
| Enel SpA | &nbsp;&nbsp; 14238900 | 101653986 |
| Eni SpA | &nbsp;&nbsp; 3731426 | 59702037 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 1070316 | 18169917 |
| Generali | &nbsp;&nbsp; 1782613 | 46139394 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 16643832 | 67587809 |
| Leonardo SpA | &nbsp;&nbsp; 748917 | 17843225 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 894698 | 14523845 |
| Nexi SpA<sup>(a)(b)</sup> | &nbsp;&nbsp; 1032600 | 6337766 |
| Poste Italiane SpA<sup>(a)</sup> | &nbsp;&nbsp; 789905 | 10693373 |
| Snam SpA | &nbsp;&nbsp; 3532749 | 16881682 |
| Stellantis NV | &nbsp;&nbsp; 3878868 | 64637684 |
| Telecom Italia SpA/Milano<sup>(b)(c)</sup> | &nbsp;&nbsp; 17060096 | 4181639 |
| Tenaris SA, NVS | &nbsp;&nbsp; 535855 | 8502319 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 2473031 | 20593554 |
| UniCredit SpA | &nbsp;&nbsp; 1719636 | 70633533 |
|  |  | 543847230 |
| **Japan — 23.0%** | **Japan — 23.0%** | **Japan — 23.0%** |
| AGC Inc. | &nbsp;&nbsp; 343700 | 12300934 |
| Aisin Corp. | &nbsp;&nbsp; 309400 | 10437912 |
| ANA Holdings Inc. | &nbsp;&nbsp; 278700 | 5330896 |
| Asahi Group Holdings Ltd. | &nbsp;&nbsp; 842300 | 31007742 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 2194100 | 15822235 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 3165400 | 36712151 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 526500 | 11188519 |
| Bridgestone Corp. | &nbsp;&nbsp; 997800 | 40683942 |
| Brother Industries Ltd. | &nbsp;&nbsp; 403900 | 8286555 |
| Canon Inc. | &nbsp;&nbsp; 1751900 | 54837439 |
| Central Japan Railway Co. | &nbsp;&nbsp; 1350700 | 31845375 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 931300 | 8723927 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 1135400 | 14315713 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 1840500 | 11599770 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 365800 | 12034166 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 790700 | 24108678 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 102400 | 12314633 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 979800 | 27746351 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 2343100 | 19344852 |
| Dentsu Group Inc. | &nbsp;&nbsp; 125100 | 3308045 |
| East Japan Railway Co. | &nbsp;&nbsp; 1588800 | 30272049 |
| Eisai Co. Ltd. | &nbsp;&nbsp; 441300 | 16829384 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 5016950 | 26286513 |
| FANUC Corp. | &nbsp;&nbsp; 834100 | 24728355 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 1959900 | 46598439 |
| Fujitsu Ltd. | &nbsp;&nbsp; 1077900 | 19574834 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 399400 | 11396450 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 12000 | 2247051 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 189400 | 4717408 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 7857100 | 83949754 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 677400 | 6612171 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 1585215 | 10440725 |
| Inpex Corp. | &nbsp;&nbsp; 1646900 | 25430582 |
| Isuzu Motors Ltd. | &nbsp;&nbsp; 1020100 | 13799022 |
| ITOCHU Corp. | &nbsp;&nbsp; 2081000 | 106720810 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 252800 | 4096087 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 303000 | 7113958 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 2529700 | 26324480 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 3648500 | 38639286 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 332500 | 6845356 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 2246 | 7790265 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 2099600 | 61781106 |
| JFE Holdings Inc. | &nbsp;&nbsp; 1007900 | 14764081 |
| Kajima Corp. | &nbsp;&nbsp; 740600 | 14310997 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Value ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 1235300 | $21143139 |
| Kao Corp. | &nbsp;&nbsp; 409900 | 17949386 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 685600 | 10534346 |
| KDDI Corp. | &nbsp;&nbsp; 2620400 | 78847851 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 147200 | 4402614 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 1366300 | 19316164 |
| Koito Manufacturing Co. Ltd. | &nbsp;&nbsp; 349200 | 5163377 |
| Komatsu Ltd. | &nbsp;&nbsp; 1617400 | 45978759 |
| Kyocera Corp. | &nbsp;&nbsp; 2247700 | 28309694 |
| LY Corp. | &nbsp;&nbsp; 4675600 | 11697953 |
| Makita Corp. | &nbsp;&nbsp; 136500 | 4499371 |
| Marubeni Corp. | &nbsp;&nbsp; 1619100 | 30471077 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 303100 | 4942922 |
| Mazda Motor Corp. | &nbsp;&nbsp; 997500 | 8603852 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 413000 | 10430053 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 2369800 | 13996618 |
| Mitsubishi Corp. | &nbsp;&nbsp; 5852900 | 120874404 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 3379200 | 56303439 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 1278600 | 21792365 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 1414200 | 10174345 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 2805400 | 33625736 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 19439500 | 224533038 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 1576600 | 36583246 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 297400 | 8598433 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 4676400 | 48446848 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 604500 | 19200825 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 4223120 | 96541133 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 2248424 | 53005552 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 1508500 | 33561068 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 636600 | 35177491 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 2689 | 10377524 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 127500 | 6308809 |
| Nippon Prologis REIT Inc. | &nbsp;&nbsp; 3977 | 6570790 |
| Nippon Steel Corp. | &nbsp;&nbsp; 1498200 | 32529508 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 52313200 | 55750868 |
| Nippon Yusen KK | &nbsp;&nbsp; 801100 | 25814550 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 218700 | 7056561 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 4098400 | 13008832 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 5251200 | 32376839 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 194200 | 5428803 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 7065 | 6931113 |
| Obayashi Corp. | &nbsp;&nbsp; 1137000 | 14928041 |
| Omron Corp. | &nbsp;&nbsp; 307100 | 11391521 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 657600 | 9701129 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 668500 | 19138822 |
| ORIX Corp. | &nbsp;&nbsp; 2020700 | 48880005 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 648000 | 14666924 |
| Otsuka Corp. | &nbsp;&nbsp; 197700 | 4382569 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 4076000 | 33387243 |
| Rakuten Group Inc.<sup>(b)</sup> | &nbsp;&nbsp; 915900 | 5373287 |
| Resona Holdings Inc. | &nbsp;&nbsp; 3692400 | 26477960 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 965400 | 8987203 |
| Rohm Co. Ltd. | &nbsp;&nbsp; 575200 | 7842410 |
| SBI Holdings Inc. | &nbsp;&nbsp; 308400 | 8016437 |
| SCSK Corp. | &nbsp;&nbsp; 96900 | 1907758 |
| Secom Co. Ltd. | &nbsp;&nbsp; 239900 | 15318275 |
| Seiko Epson Corp. | &nbsp;&nbsp; 503400 | 8714062 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 670500 | 10116500 |
| Sekisui House Ltd. | &nbsp;&nbsp; 1044400 | 26168825 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 442800 | 19478361 |
| Shiseido Co. Ltd. | &nbsp;&nbsp; 457200 | 14288158 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 774300 | 7733934 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| SoftBank Corp. | &nbsp;&nbsp; 4996000 | $65171576 |
| SoftBank Group Corp. | &nbsp;&nbsp; 900000 | 55001173 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 1558200 | 35529945 |
| Subaru Corp. | &nbsp;&nbsp; 1055900 | 20301258 |
| SUMCO Corp. | &nbsp;&nbsp; 616100 | 10128923 |
| Sumitomo Corp. | &nbsp;&nbsp; 1821500 | 45259795 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 1256800 | 19011696 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 216100 | 6589769 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 2191000 | 158218508 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 1145910 | 28964977 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 500600 | 16546196 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 244900 | 8795865 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 2751500 | 31620738 |
| T&D Holdings Inc. | &nbsp;&nbsp; 856900 | 16063222 |
| Taisei Corp. | &nbsp;&nbsp; 291100 | 12363410 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 968000 | 27175889 |
| TIS Inc. | &nbsp;&nbsp; 187500 | 4016518 |
| Toho Co. Ltd./Tokyo | &nbsp;&nbsp; 129100 | 4636268 |
| Tokyo Electric Power Co. Holdings Inc.<sup>(b)</sup> | &nbsp;&nbsp; 2689100 | 13469056 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 221000 | 4842027 |
| Tokyu Corp. | &nbsp;&nbsp; 877300 | 10628822 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 401400 | 11354058 |
| Toray Industries Inc. | &nbsp;&nbsp; 2427900 | 12622779 |
| TOTO Ltd. | &nbsp;&nbsp; 248400 | 6839740 |
| Toyota Motor Corp. | &nbsp;&nbsp; 6497980 | 124831103 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 1114000 | 22272223 |
| West Japan Railway Co. | &nbsp;&nbsp; 770900 | 15176734 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 451500 | 9258195 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 1017000 | 9470280 |
|  |  | 3443138461 |
| **Netherlands — 3.2%** | **Netherlands — 3.2%** | **Netherlands — 3.2%** |
| ABN AMRO Bank NV, CVA<sup>(a)</sup> | &nbsp;&nbsp; 760337 | 13273090 |
| Aegon Ltd. | &nbsp;&nbsp; 2371412 | 15346006 |
| AerCap Holdings NV | &nbsp;&nbsp; 357710 | 33606854 |
| ASR Nederland NV | &nbsp;&nbsp; 276119 | 13872837 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 358161 | 26421537 |
| DSM-Firmenich AG | &nbsp;&nbsp; 325764 | 41589929 |
| EXOR NV, NVS | &nbsp;&nbsp; 174741 | 17913119 |
| Heineken Holding NV | &nbsp;&nbsp; 228077 | 16807099 |
| ING Groep NV | &nbsp;&nbsp; 5783172 | 104970029 |
| JDE Peet's NV | &nbsp;&nbsp; 211976 | 4661500 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 1652825 | 53246070 |
| Koninklijke KPN NV | &nbsp;&nbsp; 6885011 | 27128211 |
| Koninklijke Philips NV<sup>(b)</sup> | &nbsp;&nbsp; 911467 | 25602818 |
| NN Group NV | &nbsp;&nbsp; 482105 | 24194034 |
| Prosus NV | &nbsp;&nbsp; 1238637 | 43207723 |
| Randstad NV | &nbsp;&nbsp; 189368 | 9223161 |
|  |  | 471064017 |
| **New Zealand — 0.2%** | **New Zealand — 0.2%** | **New Zealand — 0.2%** |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 2344586 | 10437443 |
| Mercury NZ Ltd. | &nbsp;&nbsp; 1237867 | 5068609 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 3167313 | 8139940 |
|  |  | 23645992 |
| **Norway — 1.0%** | **Norway — 1.0%** | **Norway — 1.0%** |
| Aker BP ASA | &nbsp;&nbsp; 557872 | 13508421 |
| DNB Bank ASA | &nbsp;&nbsp; 1479933 | 30575472 |
| Equinor ASA | &nbsp;&nbsp; 1574567 | 41694842 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 343615 | 5813199 |
| Mowi ASA | &nbsp;&nbsp; 822206 | 13877613 |
| Norsk Hydro ASA | &nbsp;&nbsp; 2326468 | 12904584 |
| Orkla ASA | &nbsp;&nbsp; 1234664 | 10419937 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Value ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| Salmar ASA | &nbsp;&nbsp; 74697 | $4297678 |
| Telenor ASA | &nbsp;&nbsp; 1106253 | 13181025 |
|  |  | 146272771 |
| **Portugal — 0.2%** | **Portugal — 0.2%** | **Portugal — 0.2%** |
| EDP Renovaveis SA | &nbsp;&nbsp; 551711 | 8576917 |
| EDP SA | &nbsp;&nbsp; 5699052 | 23488445 |
|  |  | 32065362 |
| **Singapore — 1.4%** | **Singapore — 1.4%** | **Singapore — 1.4%** |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 6581200 | 13435904 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 9435804 | 14739069 |
| CapitaLand Investment Ltd./Singapore<sup>(c)</sup> | &nbsp;&nbsp; 4532500 | 9189792 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 5928100 | 65983576 |
| Singapore Airlines Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 2609700 | 13638055 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 14426600 | 33421630 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 2213600 | 53676879 |
| Wilmar International Ltd. | &nbsp;&nbsp; 2216500 | 5285319 |
|  |  | 209370224 |
| **Spain — 3.6%** | **Spain — 3.6%** | **Spain — 3.6%** |
| Acciona SA | &nbsp;&nbsp; 43884 | 5689276 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 374952 | 16751608 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 10220378 | 107121944 |
| Banco de Sabadell SA | &nbsp;&nbsp; 9634415 | 20330971 |
| Banco Santander SA | &nbsp;&nbsp; 27705557 | 133655690 |
| CaixaBank SA | &nbsp;&nbsp; 6581661 | 38385815 |
| Endesa SA | &nbsp;&nbsp; 557502 | 10817880 |
| Iberdrola SA | &nbsp;&nbsp; 10418192 | 137605496 |
| Redeia Corp. SA | &nbsp;&nbsp; 396106 | 7032812 |
| Repsol SA | &nbsp;&nbsp; 2136785 | 30476793 |
| Telefonica SA | &nbsp;&nbsp; 8301246 | 37598324 |
|  |  | 545466609 |
| **Sweden — 2.3%** | **Sweden — 2.3%** | **Sweden — 2.3%** |
| Boliden AB | &nbsp;&nbsp; 479553 | 14665975 |
| Fastighets AB Balder, Class B<sup>(b)</sup> | &nbsp;&nbsp; 1157270 | 8534096 |
| Getinge AB, Class B | &nbsp;&nbsp; 264359 | 5162364 |
| Holmen AB, Class B | &nbsp;&nbsp; 132854 | 5222759 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 139605 | 4789035 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 178190 | 6040128 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 132651 | 6705977 |
| Sandvik AB | &nbsp;&nbsp; 659054 | 13492035 |
| Securitas AB, Class B | &nbsp;&nbsp; 858399 | 9234315 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 2781440 | 42777122 |
| Skanska AB, Class B | &nbsp;&nbsp; 593288 | 11599827 |
| SKF AB, Class B | &nbsp;&nbsp; 599446 | 11144217 |
| Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 1062548 | 14443937 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 2553515 | 25774834 |
| Swedbank AB, Class A | &nbsp;&nbsp; 1482501 | 31523813 |
| Tele2 AB, Class B | &nbsp;&nbsp; 945814 | 9737781 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 4854493 | 33378807 |
| Telia Co. AB | &nbsp;&nbsp; 4113316 | 11954829 |
| Volvo AB, Class A | &nbsp;&nbsp; 353183 | 9181521 |
| Volvo AB, Class B | &nbsp;&nbsp; 2780902 | 70970709 |
| Volvo Car AB<sup>(b)</sup> | &nbsp;&nbsp; 1299912 | 3688290 |
|  |  | 350022371 |
| **Switzerland — 10.2%** | **Switzerland — 10.2%** | **Switzerland — 10.2%** |
| Adecco Group AG, Registered | &nbsp;&nbsp; 295096 | 10044570 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 80325 | 14375064 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 53397 | 5667953 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 2186 | 3517300 |
| Clariant AG, Registered | &nbsp;&nbsp; 382357 | 5671713 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 7975 | 6668982 |
| Geberit AG, Registered | &nbsp;&nbsp; 29297 | 18652407 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 64763 | $9661284 |
| Holcim AG | &nbsp;&nbsp; 912477 | 85271345 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 236229 | 12928251 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 84442 | 26176226 |
| Nestle SA, Registered | &nbsp;&nbsp; 1633327 | 165443926 |
| Novartis AG, Registered | &nbsp;&nbsp; 3450485 | 385170134 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 1229964 | 398212387 |
| Sandoz Group AG | &nbsp;&nbsp; 713891 | 30963774 |
| Schindler Holding AG, Participation <br> Certificates, NVS<br>| &nbsp;&nbsp; 35889 | 9605833 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 20879 | 5481561 |
| SGS SA | &nbsp;&nbsp; 170739 | 18667455 |
| SIG Group AG | &nbsp;&nbsp; 191142 | 4013998 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 50870 | 10476927 |
| Swatch Group AG (The), Registered | &nbsp;&nbsp; 93318 | 3783815 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 51676 | 39569033 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 136309 | 13660930 |
| Swiss Re AG | &nbsp;&nbsp; 528045 | 65099151 |
| Swisscom AG, Registered | &nbsp;&nbsp; 44956 | 27514962 |
| Temenos AG, Registered | &nbsp;&nbsp; 38872 | 2699213 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 255799 | 140630648 |
|  |  | 1519628842 |
| **United Kingdom — 17.7%** | **United Kingdom — 17.7%** | **United Kingdom — 17.7%** |
| 3i Group PLC | &nbsp;&nbsp; 1701426 | 68449578 |
| Admiral Group PLC | &nbsp;&nbsp; 226357 | 8022002 |
| Anglo American PLC | &nbsp;&nbsp; 2224638 | 67442834 |
| Antofagasta PLC | &nbsp;&nbsp; 346517 | 9023022 |
| Associated British Foods PLC | &nbsp;&nbsp; 591540 | 18885067 |
| Aviva PLC | &nbsp;&nbsp; 5142369 | 33126509 |
| Barclays PLC | &nbsp;&nbsp; 26268978 | 78552274 |
| Barratt Developments PLC | &nbsp;&nbsp; 1694479 | 11466355 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 184268 | 12029453 |
| BP PLC | &nbsp;&nbsp; 29798550 | 176142526 |
| British American Tobacco PLC | &nbsp;&nbsp; 3515336 | 124727741 |
| BT Group PLC | &nbsp;&nbsp; 11307130 | 20505496 |
| Bunzl PLC | &nbsp;&nbsp; 384648 | 16116502 |
| Centrica PLC | &nbsp;&nbsp; 9337965 | 15920987 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 190655 | 6956984 |
| Croda International PLC | &nbsp;&nbsp; 236438 | 12293395 |
| DCC PLC | &nbsp;&nbsp; 173120 | 11927094 |
| Entain PLC | &nbsp;&nbsp; 1110927 | 8163777 |
| Glencore PLC | &nbsp;&nbsp; 18155633 | 100742656 |
| Haleon PLC | &nbsp;&nbsp; 5954263 | 26707263 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 618494 | 8786377 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 293522 | 7176570 |
| HSBC Holdings PLC | &nbsp;&nbsp; 33054862 | 300604338 |
| Imperial Brands PLC | &nbsp;&nbsp; 1434715 | 39543384 |
| Informa PLC | &nbsp;&nbsp; 2366097 | 26441549 |
| Intertek Group PLC | &nbsp;&nbsp; 98215 | 6377881 |
| J Sainsbury PLC | &nbsp;&nbsp; 2892375 | 10256931 |
| Kingfisher PLC | &nbsp;&nbsp; 3255465 | 11573598 |
| Land Securities Group PLC | &nbsp;&nbsp; 1230365 | 10061197 |
| Legal & General Group PLC | &nbsp;&nbsp; 10396744 | 31009597 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 110703480 | 84571904 |
| M&G PLC | &nbsp;&nbsp; 3930781 | 10733568 |
| Mondi PLC, NVS | &nbsp;&nbsp; 268611 | 5251791 |
| National Grid PLC | &nbsp;&nbsp; 8398472 | 106561288 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 11437540 | 54265226 |
| Pearson PLC | &nbsp;&nbsp; 1088699 | 14771437 |
| Persimmon PLC | &nbsp;&nbsp; 555828 | 11334597 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 1218949 | 8585169 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 1235008 | 66435586 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Value ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Rio Tinto PLC | &nbsp;&nbsp; 1973461 | $128339884 |
| Schroders PLC | &nbsp;&nbsp; 1401432 | 7082100 |
| Segro PLC | &nbsp;&nbsp; 2210324 | 26016857 |
| Severn Trent PLC | &nbsp;&nbsp; 233996 | 7735828 |
| Shell PLC | &nbsp;&nbsp; 11192899 | 408136532 |
| Smith & Nephew PLC | &nbsp;&nbsp; 760069 | 10954739 |
| Smiths Group PLC | &nbsp;&nbsp; 607887 | 13962652 |
| SSE PLC | &nbsp;&nbsp; 1918335 | 46427159 |
| Standard Chartered PLC | &nbsp;&nbsp; 3858667 | 38117014 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 6202878 | 12716986 |
| Tesco PLC | &nbsp;&nbsp; 12303903 | 52469623 |
| Unilever PLC | &nbsp;&nbsp; 2846502 | 174930854 |
| United Utilities Group PLC | &nbsp;&nbsp; 1192651 | 15849887 |
| Vodafone Group PLC | &nbsp;&nbsp; 40235155 | 37650025 |
| Whitbread PLC | &nbsp;&nbsp; 320767 | 12019129 |
| WPP PLC | &nbsp;&nbsp; 1885287 | 18185625 |
|  |  | 2652138397 |
| **Total Common Stocks — 98.9%** <br>**(Cost: $13,447,544,487)** | **Total Common Stocks — 98.9%** <br>**(Cost: $13,447,544,487)** | 14813014693 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.5%** | **Germany — 0.5%** | **Germany — 0.5%** |
| Bayerische Motoren Werke AG, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 103812 | 8899966 |
| Henkel AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 295709 | 25295469 |
| Porsche Automobil Holding SE, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 268778 | 12014233 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 361367 | 40329631 |
|  |  | 86539299 |
| **Total Preferred Stocks — 0.5%** <br>**(Cost: $126,351,539)** | **Total Preferred Stocks — 0.5%** <br>**(Cost: $126,351,539)** | 86539299 |
| **Total Long-Term Investments — 99.4%** <br>**(Cost: $13,573,896,026)** | **Total Long-Term Investments — 99.4%** <br>**(Cost: $13,573,896,026)** | 14899553992 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 5406258 | $5408421 |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 4590000 | 4590000 |
| **Total Short-Term Securities — 0.1%** <br>**(Cost: $9,992,942)** | **Total Short-Term Securities — 0.1%** <br>**(Cost: $9,992,942)** | 9998421 |
| **Total Investments — 99.5%** <br>**(Cost: $13,583,888,968)** | **Total Investments — 99.5%** <br>**(Cost: $13,583,888,968)** | 14909552413 |
| **Other Assets Less Liabilities — 0.5%** | **Other Assets Less Liabilities — 0.5%** | 71378354 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $14980930767 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> 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. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> All or a portion of this security is on loan.

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $20634209 | $— | &nbsp;&nbsp; $(15211727 )<sup>(a)</sup><br>| &nbsp;&nbsp; $(8992)<br>| $(5069)<br>| $5408421 | 5406258 | $244205 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>|  | 4590000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 4590000 | 4590000 | 682109 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(8992)<br>| $(5069)<br>| $9998421 |  | $926314 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Value ETF**

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 106 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $19592 | &nbsp;&nbsp; $(82562)<br>|
| Euro STOXX 50 Index | &nbsp;&nbsp; 405 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 21477 | &nbsp;&nbsp; (23223)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 355 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 38176 | &nbsp;&nbsp; 777811 |
|  |  |  |  | &nbsp;&nbsp; $672026 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $777811 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $777811 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $105785 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $105785 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13292973 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13292973 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1434986)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1434986)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $112550961 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI EAFE Value ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $131570393 | &nbsp;&nbsp; $14681444300 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14813014693 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 86539299 | &nbsp;&nbsp; — | &nbsp;&nbsp; 86539299 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 9998421 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 9998421 |
|  | &nbsp;&nbsp; $141568814 | &nbsp;&nbsp; $14767983599 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14909552413 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $777811 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $777811 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (105785)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (105785)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $672026 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $672026 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Assets and Liabilities

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>MSCI EAFE Growth <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI EAFE Value <br> ETF <br>|
| **ASSETS** |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $15157674255 | $14899553992 |
| Investments, at value—affiliated<sup>(c)</sup> | 40707449 | 9998421 |
| Cash | 7103 | 363 |
| Foreign currency collateral pledged for futures contracts<sup>(d)</sup> | 2645488 | 4381504 |
| Foreign currency, at value<sup>(e)</sup> | 14872559 | 18853431 |
| Receivables: |  |  |
| Securities lending income—affiliated | 8438 | 2843 |
| Capital shares sold | 2698740 |  |
| Dividends—unaffiliated | 5000598 | 15021803 |
| Dividends—affiliated | 21867 | 13968 |
| Tax reclaims | 23926651 | 42255188 |
| Variation margin on futures contracts | 262065 | 596755 |
| Total assets | 15247825213 | 14990678268 |
| **LIABILITIES** |  |  |
| Collateral on securities loaned, at value | 36001818 | 5419951 |
| Payables: |  |  |
| Investments purchased | 1973734 |  |
| Capital shares redeemed |  | 45845 |
| Investment advisory fees | 4334613 | 4240943 |
| Professional fees | 676917 | 40762 |
| Total liabilities | 42987082 | 9747501 |
| **Commitments and contingent liabilities** |  |  |
| NET ASSETS | $15204838131 | $14980930767 |
| **NET ASSETS CONSIST OF** |  |  |
| Paid-in capital | $14801413649 | $14972483260 |
| Accumulated earnings | 403424482 | 8447507 |
| NET ASSETS | $15204838131 | $14980930767 |
| **NET ASSET VALUE** |  |  |
| Shares outstanding | 147200000 | 270800000 |
| Net asset value | $103.29 | $55.32 |
| Shares authorized | Unlimited | Unlimited |
| Par value |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $13344982885 | $13573896026 |
| <sup>(b)</sup> Securities loaned, at value | $34772179 | $4961880 |
| <sup>(c)</sup> Investments, at cost—affiliated | $40693915 | $9992942 |
| <sup>(d)</sup> Foreign currency collateral pledged, at cost | $2648655 | $4395131 |
| <sup>(e)</sup> Foreign currency, at cost | $14815250 | $18749710 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>MSCI EAFE <br> Growth ETF <br>| &nbsp;&nbsp; iShares <br>MSCI EAFE Value <br> ETF <br>|
| **INVESTMENT INCOME** |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $221702675 | &nbsp;&nbsp;&nbsp; $777974721 |
| Dividends—affiliated | &nbsp;&nbsp; 288367 | &nbsp;&nbsp;&nbsp; 682109 |
| Interest—unaffiliated | &nbsp;&nbsp; 149935 | &nbsp;&nbsp;&nbsp; 334638 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 116113 | &nbsp;&nbsp;&nbsp; 244205 |
| Other income—unaffiliated | &nbsp;&nbsp; 700036 | &nbsp;&nbsp;&nbsp; — |
| Foreign taxes withheld | &nbsp;&nbsp; (16115055)<br>| &nbsp;&nbsp;&nbsp; (55275702)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; 7223659 | &nbsp;&nbsp;&nbsp; — |
| Total investment income | &nbsp;&nbsp; 214065730 | &nbsp;&nbsp;&nbsp; 723959971 |
| EXPENSES |  |  |
| Investment advisory | &nbsp;&nbsp; 41894443 | &nbsp;&nbsp;&nbsp; 54702522 |
| Professional | &nbsp;&nbsp; 800634 | &nbsp;&nbsp;&nbsp; 44209 |
| Interest expense | &nbsp;&nbsp; 15119 | &nbsp;&nbsp;&nbsp; 801 |
| Total expenses | &nbsp;&nbsp; 42710196 | &nbsp;&nbsp;&nbsp; 54747532 |
| Net investment income | &nbsp;&nbsp; 171355534 | &nbsp;&nbsp;&nbsp; 669212439 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| Net realized gain (loss) from: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (391244637)<br>| &nbsp;&nbsp;&nbsp; 16578811 |
| Investments—affiliated | &nbsp;&nbsp; 10888 | &nbsp;&nbsp;&nbsp; (8992)<br>|
| Foreign currency transactions | &nbsp;&nbsp; (492707)<br>| &nbsp;&nbsp;&nbsp; (3802126)<br>|
| Futures contracts | &nbsp;&nbsp; 5724443 | &nbsp;&nbsp;&nbsp; 13292973 |
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 292682405 | &nbsp;&nbsp;&nbsp; 862944983 |
|  | &nbsp;&nbsp; (93319608)<br>| &nbsp;&nbsp;&nbsp; 889005649 |
| Net change in unrealized appreciation (depreciation) on: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 581950012 | &nbsp;&nbsp;&nbsp; 612393825 |
| Investments—affiliated | &nbsp;&nbsp; (4178)<br>| &nbsp;&nbsp;&nbsp; (5069)<br>|
| Foreign currency translations | &nbsp;&nbsp; 49991 | &nbsp;&nbsp;&nbsp; 384067 |
| Futures contracts | &nbsp;&nbsp; (1418063)<br>| &nbsp;&nbsp;&nbsp; (1434986)<br>|
|  | &nbsp;&nbsp; 580577762 | &nbsp;&nbsp;&nbsp; 611337837 |
| Net realized and unrealized gain | &nbsp;&nbsp; 487258154 | &nbsp;&nbsp;&nbsp; 1500343486 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $658613688 | &nbsp;&nbsp;&nbsp; $2169555925 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>MSCI EAFE Growth ETF  | iShares <br>MSCI EAFE Growth ETF  | iShares <br>MSCI EAFE Value ETF  | iShares <br>MSCI EAFE Value ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $171355534 | &nbsp;&nbsp;&nbsp; $176336688 | &nbsp;&nbsp;&nbsp; $669212439 | &nbsp;&nbsp;&nbsp; $642640998 |
| Net realized gain (loss) | &nbsp;&nbsp; (93319608)<br>| &nbsp;&nbsp;&nbsp; 96447934 | &nbsp;&nbsp;&nbsp; 889005649 | &nbsp;&nbsp;&nbsp; 51124366 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 580577762 | &nbsp;&nbsp;&nbsp; 1144191883 | &nbsp;&nbsp;&nbsp; 611337837 | &nbsp;&nbsp;&nbsp; 2074500708 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 658613688 | &nbsp;&nbsp;&nbsp; 1416976505 | &nbsp;&nbsp;&nbsp; 2169555925 | &nbsp;&nbsp;&nbsp; 2768266072 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (193593828)<br>| &nbsp;&nbsp;&nbsp; (151624443)<br>| &nbsp;&nbsp;&nbsp; (758932956)<br>| &nbsp;&nbsp;&nbsp; (577034652)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; 1802257024 | &nbsp;&nbsp;&nbsp; 1536591246 | &nbsp;&nbsp;&nbsp; (3537523848)<br>| &nbsp;&nbsp;&nbsp; 643286775 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; 2267276884 | &nbsp;&nbsp;&nbsp; 2801943308 | &nbsp;&nbsp;&nbsp; (2126900879)<br>| &nbsp;&nbsp;&nbsp; 2834518195 |
| Beginning of year | &nbsp;&nbsp; 12937561247 | &nbsp;&nbsp;&nbsp; 10135617939 | &nbsp;&nbsp;&nbsp; 17107831646 | &nbsp;&nbsp;&nbsp; 14273313451 |
| End of year | &nbsp;&nbsp; $15204838131 | &nbsp;&nbsp;&nbsp; $12937561247 | &nbsp;&nbsp;&nbsp; $14980930767 | &nbsp;&nbsp;&nbsp; $17107831646 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI EAFE Growth ETF  | iShares MSCI EAFE Growth ETF  | iShares MSCI EAFE Growth ETF  | iShares MSCI EAFE Growth ETF  | iShares MSCI EAFE Growth ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $96.55 | &nbsp;&nbsp;&nbsp; $86.78 | &nbsp;&nbsp;&nbsp; $108.95 | &nbsp;&nbsp;&nbsp; $86.52 | &nbsp;&nbsp;&nbsp; $80.40 |
| Net investment income<sup>(a)</sup> | 1.39 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.39 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.19 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.15 | &nbsp;&nbsp;&nbsp;&nbsp;1.06 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 6.90 | &nbsp;&nbsp;&nbsp;&nbsp;9.48 | &nbsp;&nbsp;&nbsp; (21.67)<br>| &nbsp;&nbsp;&nbsp;&nbsp;22.53 | &nbsp;&nbsp;&nbsp;&nbsp;6.06 |
| Net increase (decrease) from investment operations | 8.29 | &nbsp;&nbsp;&nbsp;&nbsp;10.87 | &nbsp;&nbsp;&nbsp; (20.48)<br>| &nbsp;&nbsp;&nbsp;&nbsp;23.68 | &nbsp;&nbsp;&nbsp;&nbsp;7.12 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.55)<br>| &nbsp;&nbsp;&nbsp; (1.10)<br>| &nbsp;&nbsp;&nbsp; (1.69)<br>| &nbsp;&nbsp;&nbsp; (1.25)<br>| &nbsp;&nbsp;&nbsp; (1.00)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $103.29 | &nbsp;&nbsp;&nbsp; $96.55 | &nbsp;&nbsp;&nbsp; $86.78 | &nbsp;&nbsp;&nbsp; $108.95 | &nbsp;&nbsp;&nbsp; $86.52 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 8.66 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.58 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (18.92 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 27.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.91<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 1.44 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.57 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.19 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.31<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $15204838 | &nbsp;&nbsp;&nbsp; $12937561 | &nbsp;&nbsp;&nbsp; $10135618 | &nbsp;&nbsp;&nbsp; $12115330 | &nbsp;&nbsp;&nbsp; $7994330 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 22<br> %<br>| &nbsp;&nbsp;&nbsp; 19<br> %<br>| &nbsp;&nbsp;&nbsp; 25<br> %<br>| &nbsp;&nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 33<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.05, $0.03 and $0.01.<br> • Total return by 0.05%, 0.03% and 0.01%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.03% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.05, $0.03 and $0.01.<br> • Total return by 0.05%, 0.03% and 0.01%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.03% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.05, $0.03 and $0.01.<br> • Total return by 0.05%, 0.03% and 0.01%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.03% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.05, $0.03 and $0.01.<br> • Total return by 0.05%, 0.03% and 0.01%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.03% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.05, $0.03 and $0.01.<br> • Total return by 0.05%, 0.03% and 0.01%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.03% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024, July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.05, $0.03 and $0.01.<br> • Total return by 0.05%, 0.03% and 0.01%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.03% and 0.01%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI EAFE Value ETF  | iShares MSCI EAFE Value ETF  | iShares MSCI EAFE Value ETF  | iShares MSCI EAFE Value ETF  | iShares MSCI EAFE Value ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $50.92 | &nbsp;&nbsp;&nbsp; $44.33 | &nbsp;&nbsp;&nbsp; $51.48 | &nbsp;&nbsp;&nbsp; $39.94 | &nbsp;&nbsp;&nbsp; $47.08 |
| Net investment income<sup>(a)</sup> | 2.07 | &nbsp;&nbsp;&nbsp;&nbsp; 1.99 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.06 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.67 | &nbsp;&nbsp;&nbsp;&nbsp;1.48 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 4.82 | &nbsp;&nbsp;&nbsp;&nbsp;6.45 | &nbsp;&nbsp;&nbsp; (6.66)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11.39 | &nbsp;&nbsp;&nbsp; (7.18)<br>|
| Net increase (decrease) from investment operations | 6.89 | &nbsp;&nbsp;&nbsp;&nbsp;8.44 | &nbsp;&nbsp;&nbsp; (4.60)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.06 | &nbsp;&nbsp;&nbsp; (5.70)<br>|
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (2.49)<br>| &nbsp;&nbsp;&nbsp; (1.85)<br>| &nbsp;&nbsp;&nbsp; (2.55)<br>| &nbsp;&nbsp;&nbsp; (1.52)<br>| &nbsp;&nbsp;&nbsp; (1.44)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $55.32 | &nbsp;&nbsp;&nbsp; $50.92 | &nbsp;&nbsp;&nbsp; $44.33 | &nbsp;&nbsp;&nbsp; $51.48 | &nbsp;&nbsp;&nbsp; $39.94 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 13.89<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 19.39 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (9.23 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 32.79<br> %<br>| &nbsp;&nbsp;&nbsp; (12.48)%<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.35<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.39<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.33<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.36<br> %<br>| &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 4.00<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.29 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.17 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.36<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $14980931 | &nbsp;&nbsp;&nbsp; $17107832 | &nbsp;&nbsp;&nbsp; $14273313 | &nbsp;&nbsp;&nbsp; $14434306 | &nbsp;&nbsp;&nbsp; $5799502 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 28<br> %<br>| &nbsp;&nbsp;&nbsp; 22<br> %<br>| &nbsp;&nbsp;&nbsp; 26<br> %<br>| &nbsp;&nbsp;&nbsp; 25<br> %<br>| &nbsp;&nbsp;&nbsp; 27<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 <br> and July 31, 2022 respectively:<br> • Net investment income per share by $0.02 and $0.06.<br> • Total return by 0.04% and 0.12%.<br> • Ratio of net investment income to average net assets by 0.04% and 0.13%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 <br> and July 31, 2022 respectively:<br> • Net investment income per share by $0.02 and $0.06.<br> • Total return by 0.04% and 0.12%.<br> • Ratio of net investment income to average net assets by 0.04% and 0.13%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 <br> and July 31, 2022 respectively:<br> • Net investment income per share by $0.02 and $0.06.<br> • Total return by 0.04% and 0.12%.<br> • Ratio of net investment income to average net assets by 0.04% and 0.13%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 <br> and July 31, 2022 respectively:<br> • Net investment income per share by $0.02 and $0.06.<br> • Total return by 0.04% and 0.12%.<br> • Ratio of net investment income to average net assets by 0.04% and 0.13%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 <br> and July 31, 2022 respectively:<br> • Net investment income per share by $0.02 and $0.06.<br> • Total return by 0.04% and 0.12%.<br> • Ratio of net investment income to average net assets by 0.04% and 0.13%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2023 <br> and July 31, 2022 respectively:<br> • Net investment income per share by $0.02 and $0.06.<br> • Total return by 0.04% and 0.12%.<br> • Ratio of net investment income to average net assets by 0.04% and 0.13%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

<u> *iShares ETF* </u> <u> *Diversification* *Classification* </u> <br> MSCI EAFE Growth Diversified <br> MSCI EAFE Value Diversified

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Foreign Taxes:** Certain Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2024, if any, are disclosed in the Statements of Assets and Liabilities.

Certain Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**Collateralization:** If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's published NAV.

&nbsp;&nbsp;&nbsp;&nbsp;• Futures contracts are valued based on that day's last reported settlement or trade price on the exchange where the contract is traded.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange ("NYSE"). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments ("Systematic Fair Value Price"). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** 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:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 that may not have a secondary market and/or may have 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.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***4. SECURITIES AND OTHER INVESTMENTS***

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| MSCI EAFE Growth |  |  |  |  |
| BNP Paribas SA | &nbsp;&nbsp; $264264 | &nbsp;&nbsp;&nbsp; $(264264) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BofA Securities, Inc. | &nbsp;&nbsp; 134261 | &nbsp;&nbsp;&nbsp; (134261) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 13313884 | &nbsp;&nbsp;&nbsp; (13313884) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 7929198 | &nbsp;&nbsp;&nbsp; (7929198) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 106501 | &nbsp;&nbsp;&nbsp; (106501) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 5803007 | &nbsp;&nbsp;&nbsp; (5803007) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 3312020 | &nbsp;&nbsp;&nbsp; (3312020) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 3656253 | &nbsp;&nbsp;&nbsp; (3656253) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 252791 | &nbsp;&nbsp;&nbsp; (252791) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $34772179 | &nbsp;&nbsp;&nbsp; $(34772179) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| MSCI EAFE Value |  |  |  |  |
| BofA Securities, Inc. | &nbsp;&nbsp; $4266539 | &nbsp;&nbsp;&nbsp; $(4266539) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Macquarie Bank Ltd. | &nbsp;&nbsp; 104518 | &nbsp;&nbsp;&nbsp; (104518) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 590823 | &nbsp;&nbsp;&nbsp; (590823) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $4961880 | &nbsp;&nbsp;&nbsp; $(4961880) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. ("BlackRock"). BlackRock's indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. DERIVATIVE FINANCIAL INSTRUMENTS***

**Futures Contracts:** Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract's size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.

Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.

***6. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to the iShares MSCI EAFE Growth ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund as follows:

---

| | |
|:---|:---|
| *Average Daily Net Assets* | *Investment Advisory Fees* |
| First $3 billion | 0.4000% |
| Over $3 billion, up to and including $4.5 billion | 0.3800 |
| Over $4.5 billion, up to and including $6 billion | 0.3610 |
| Over $6 billion, up to and including $7.5 billion | 0.3430 |
| Over $7.5 billion, up to and including $9 billion | 0.3258 |
| Over $9 billion, up to and including $10.5 billion | 0.3095 |
| Over $10.5 billion | 0.2940 |

---

For its investment advisory services to the iShares MSCI EAFE Value ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund as follows:

---

| | |
|:---|:---|
| *Average Daily Net Assets* | *Investment Advisory Fees* |
| First $3 billion | 0.4000% |
| Over $3 billion, up to and including $4.5 billion | 0.3800 |
| Over $4.5 billion, up to and including $6 billion | 0.3610 |
| Over $6 billion, up to and including $7.5 billion | 0.3430 |
| Over $7.5 billion, up to and including $9 billion | 0.3258 |
| Over $9 billion, up to and including $10.5 billion | 0.3096 |
| Over $10.5 billion, up to and including $12 billion | 0.2941 |
| Over $12 billion, up to and including $13.5 billion | 0.2793 |
| Over $13.5 billion, up to and including $15 billion | 0.2653 |
| Over $15 billion | 0.2520 |

---

**Distributor:** BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, redemption fee, distribution fee or service fee. The money market fund in which the cash collateral has been invested may impose a discretionary liquidity fee of up to 2% of the value redeemed, if such fee is determined to be in the best interests of such money market fund.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended July 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| MSCI EAFE Growth | &nbsp;&nbsp; $36771 |
| MSCI EAFE Value | &nbsp;&nbsp; 65870 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the year ended July 31, 2024, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* | &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>|
| MSCI EAFE Growth | &nbsp;&nbsp; $2188462301 | &nbsp;&nbsp;&nbsp; $2155402148 | &nbsp;&nbsp;&nbsp; $(293983141) |
| MSCI EAFE Value | &nbsp;&nbsp; 2447835617 | &nbsp;&nbsp;&nbsp; 2486013287 | &nbsp;&nbsp;&nbsp; 144684594 |

---

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***7. PURCHASES AND SALES***

For the year ended July 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| MSCI EAFE Growth | &nbsp;&nbsp; $2803360852 | &nbsp;&nbsp;&nbsp; $2662436200 |
| MSCI EAFE Value | &nbsp;&nbsp; 4599191867 | &nbsp;&nbsp;&nbsp; 4732715598 |

---

For the year ended July 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| MSCI EAFE Growth | &nbsp;&nbsp; $3522254373 | &nbsp;&nbsp;&nbsp; $1883982768 |
| MSCI EAFE Value | &nbsp;&nbsp; 921177826 | &nbsp;&nbsp;&nbsp; 4410798446 |

---

***8. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of July 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| MSCI EAFE Growth | &nbsp;&nbsp; $278711055 | &nbsp;&nbsp;&nbsp; $(278711055) |
| MSCI EAFE Value | &nbsp;&nbsp; 728002011 | &nbsp;&nbsp;&nbsp; (728002011) |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*07/31/23*<br>|
| MSCI EAFE Growth |  |  |
| Ordinary income | &nbsp;&nbsp; $193593828 | &nbsp;&nbsp;&nbsp; $151624443 |
| MSCI EAFE Value |  |  |
| Ordinary income | &nbsp;&nbsp; $758932956 | &nbsp;&nbsp;&nbsp; $577034652 |

---

As of July 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| MSCI EAFE Growth | &nbsp;&nbsp; $51735035 | &nbsp;&nbsp;&nbsp; $(1377449217) | &nbsp;&nbsp;&nbsp; $1729138664 | &nbsp;&nbsp;&nbsp; $403424482 |
| MSCI EAFE Value | &nbsp;&nbsp; 135330627 | &nbsp;&nbsp;&nbsp; (1130024311) | &nbsp;&nbsp;&nbsp; 1003141191 | &nbsp;&nbsp;&nbsp; 8447507 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain futures contracts, the timing and recognition of partnership income, the characterization of corporate actions and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies. 

For the year ended July 31, 2024, the iShares MSCI EAFE Value ETF utilized $39,783,002 of its capital loss carryforwards.

A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as "passive foreign investment companies." Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.

As of July 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| MSCI EAFE Growth | &nbsp;&nbsp; $13470001760 | &nbsp;&nbsp;&nbsp; $2376491821 | &nbsp;&nbsp;&nbsp; $(648208302) | &nbsp;&nbsp;&nbsp; $1728283519 |
| MSCI EAFE Value | &nbsp;&nbsp; 13907456158 | &nbsp;&nbsp;&nbsp; 2085236867 | &nbsp;&nbsp;&nbsp; (1083223174) | &nbsp;&nbsp;&nbsp; 1002013693 |

---

***9. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to discretionary liquidity fees under certain circumstances.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore each Fund's results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by each Fund, and each Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker's customers, potentially resulting in losses to the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds' investments.

Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. These events and actions have adversely affected, and may in the future adversely affect**,** the value and exchange rate of the Euro and may continue to significantly affect the economies of every country in Europe, including countries that do not use the Euro and non-European Union member states. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but have been, and may continue to be, significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds' investments.

Certain Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the Fund and could affect the income from, or the value or liquidity of, the Fund's portfolio.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

***10. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Year Ended <br>07/31/23 | Year Ended <br>07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| MSCI EAFE Growth |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 36000000 | &nbsp;&nbsp;&nbsp; $3729194385 | &nbsp;&nbsp;&nbsp; 32800000 | &nbsp;&nbsp;&nbsp; $2965743755 |
| Shares redeemed | &nbsp;&nbsp; (22800000)<br>| &nbsp;&nbsp;&nbsp; (1926937361)<br>| &nbsp;&nbsp;&nbsp; (15600000)<br>| &nbsp;&nbsp;&nbsp; (1429152509)<br>|
|  | &nbsp;&nbsp; 13200000 | &nbsp;&nbsp;&nbsp; $1802257024 | &nbsp;&nbsp;&nbsp; 17200000 | &nbsp;&nbsp;&nbsp; $1536591246 |
| MSCI EAFE Value |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 19600000 | &nbsp;&nbsp;&nbsp; $969912608 | &nbsp;&nbsp;&nbsp; 55200000 | &nbsp;&nbsp;&nbsp; $2579661094 |
| Shares redeemed | &nbsp;&nbsp; (84800000)<br>| &nbsp;&nbsp;&nbsp; (4507436456)<br>| &nbsp;&nbsp;&nbsp; (41200000)<br>| &nbsp;&nbsp;&nbsp; (1936374319)<br>|
|  | &nbsp;&nbsp; (65200000)<br>| &nbsp;&nbsp;&nbsp; $(3537523848)<br>| &nbsp;&nbsp;&nbsp; 14000000 | &nbsp;&nbsp;&nbsp; $643286775 |

---

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust's administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for Funds using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Fund's custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***11. FOREIGN WITHHOLDING TAX CLAIMS***

The Internal Revenue Service ("IRS") has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which the iShares MSCI EAFE Growth ETF is able to pass through to its shareholders as a foreign tax credit in the current year, the iShares MSCI EAFE Growth ETF will be able to offset the prior years' withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Fund.

***12. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the two funds listed in the table below

***Opinions on the Financial Statements*** 

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (two of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of July 31, 2024, the related statements of operations for the year ended July 31, 2024, the statements of changes in net assets for each of the two years in the period ended July 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended July 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of July 31, 2024, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended July 31, 2024 and each of the financial highlights for each of the five years in the period ended July 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

iShares MSCI EAFE Growth ETF <br> iShares MSCI EAFE Value ETF

***Basis for Opinions*** 

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

September 23, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements

------

Important Tax Information (unaudited)

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Dividend* <br>*Income*<br>|
| MSCI EAFE Growth | &nbsp;&nbsp; $206062605 |
| MSCI EAFE Value | &nbsp;&nbsp; 726544730 |

---

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended July 31, 2024:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Foreign* <br>*Taxes Paid*<br>|
| MSCI EAFE Growth | &nbsp;&nbsp; $221702679 | &nbsp;&nbsp;&nbsp;&nbsp; $6803565 |
| MSCI EAFE Value | &nbsp;&nbsp; 777974723 | &nbsp;&nbsp;&nbsp;&nbsp; 51870179 |

---

Important Tax Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of each Fund's portfolio securities is available in each Fund Prospectus. Each Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at **iShares.com**.

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract

**iShares MSCI EAFE Growth ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were higher than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund's investment advisory fee rate, and the Board and BFA agreed during the June 4-5, 2024 meeting to revise the Advisory Agreement for the Fund to provide for one or more additional breakpoints, as the assets of the Fund, on an aggregate basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares MSCI EAFE Value ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund's investment advisory fee rate, and the Board and BFA agreed during the June 4-5, 2024 meeting to revise the Advisory Agreement for the Fund to provide for one or more additional breakpoints, as the assets of the Fund, on an aggregate basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

Board Review and Approval of Investment Advisory Contract

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | American Depositary Receipt |
| NVS | Non-Voting Shares |
| REIT | Real Estate Investment Trust |

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2024 iShares Annual Financial Statements

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc., nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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July 31, 2024

![](g40991img5fbce4741.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2024 Annual Financial Statements <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| |
|:---|
| **iShares Trust** |
| • iShares MSCI Intl Momentum Factor ETF \| IMTM \| NYSE Arca |
| • iShares MSCI Intl Quality Factor ETF \| IQLT \| NYSE Arca |
| • iShares MSCI Intl Size Factor ETF \| ISZE \| NYSE Arca |
| • iShares MSCI Intl Value Factor ETF \| IVLU \| NYSE Arca |

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**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_1e26c7a5-6093-4d84-b651-29830985086c_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_1e26c7a5-6093-4d84-b651-29830985086c_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 30 |
| [Statements of Operations](#xx_1e26c7a5-6093-4d84-b651-29830985086c_FS-Footer-iSharesReport_2)  | &nbsp;&nbsp; 31 |
| [Statements of Changes in Net Assets](#xx_1e26c7a5-6093-4d84-b651-29830985086c_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 32 |
| [Financial Highlights](#xx_1e26c7a5-6093-4d84-b651-29830985086c_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 34 |
| [Notes to Financial Statements](#xx_1e26c7a5-6093-4d84-b651-29830985086c_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 38 |
| [Report of Independent Registered Public Accounting Firm](#xx_1e26c7a5-6093-4d84-b651-29830985086c_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 47 |
| [Important Tax Information](#xx_1e26c7a5-6093-4d84-b651-29830985086c_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 48 |
| [Additional Information](#xx_1e26c7a5-6093-4d84-b651-29830985086c_SAI-Footer-iSharesReport-318_1)  | &nbsp;&nbsp; 49 |
| [Board Review and Approval of Investment Advisory Contract](#xx_1e26c7a5-6093-4d84-b651-29830985086c_15Cheader-Footer-iSharesReport-318_1)  | &nbsp;&nbsp; 50 |
| [Glossary of Terms Used in this Report](#xx_1e26c7a5-6093-4d84-b651-29830985086c_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 55 |

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Schedule of Investments

July 31, 2024

**iShares® MSCI Intl Momentum Factor ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 3.5%** | **Australia — 3.5%** | **Australia — 3.5%** |
| CAR Group Ltd. | &nbsp;&nbsp; 84093 | $1923250 |
| Cochlear Ltd. | &nbsp;&nbsp; 16791 | 3794022 |
| Fortescue Ltd. | &nbsp;&nbsp; 220223 | 2740197 |
| Goodman Group | &nbsp;&nbsp; 658774 | 15208513 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 446189 | 2158619 |
| James Hardie Industries PLC<sup>(a)</sup> | &nbsp;&nbsp; 120418 | 4325851 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 154114 | 1430352 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 18243 | 1721212 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 208461 | 2460267 |
| Reece Ltd. | &nbsp;&nbsp; 78445 | 1421536 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 43191 | 3318887 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 65203 | 1672909 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 325291 | 3784800 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 311017 | 15010364 |
| Westpac Banking Corp. | &nbsp;&nbsp; 711201 | 13898859 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 41996 | 2631516 |
| Xero Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 19823 | 1806215 |
|  |  | 79307369 |
| **Austria — 0.2%** | **Austria — 0.2%** | **Austria — 0.2%** |
| Erste Group Bank AG | &nbsp;&nbsp; 67477 | 3509901 |
| **Belgium — 0.5%** | **Belgium — 0.5%** | **Belgium — 0.5%** |
| D'ieteren Group | &nbsp;&nbsp; 4729 | 1086810 |
| Lotus Bakeries NV | &nbsp;&nbsp; 112 | 1216968 |
| UCB SA | &nbsp;&nbsp; 56565 | 9451689 |
|  |  | 11755467 |
| **Canada — 5.3%** | **Canada — 5.3%** | **Canada — 5.3%** |
| ARC Resources Ltd. | &nbsp;&nbsp; 87096 | 1507061 |
| Brookfield Asset Management Ltd. | &nbsp;&nbsp; 85014 | 3710530 |
| Brookfield Corp., Class A | &nbsp;&nbsp; 301449 | 14700729 |
| Cameco Corp. | &nbsp;&nbsp; 66602 | 3031376 |
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp; 210796 | 10901267 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 4892 | 15435462 |
| Descartes Systems Group Inc. (The)<sup>(a)</sup> | &nbsp;&nbsp; 15405 | 1566777 |
| Dollarama Inc. | &nbsp;&nbsp; 68394 | 6411643 |
| Element Fleet Management Corp. | &nbsp;&nbsp; 63534 | 1215321 |
| Fairfax Financial Holdings Ltd. | &nbsp;&nbsp; 6383 | 7527608 |
| Ivanhoe Mines Ltd., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 202878 | 2652336 |
| Kinross Gold Corp. | &nbsp;&nbsp; 182888 | 1662438 |
| Loblaw Companies Ltd. | &nbsp;&nbsp; 37460 | 4619248 |
| Lundin Mining Corp. | &nbsp;&nbsp; 207667 | 2096750 |
| Manulife Financial Corp. | &nbsp;&nbsp; 454475 | 12107044 |
| MEG Energy Corp.<sup>(a)</sup> | &nbsp;&nbsp; 35376 | 733066 |
| National Bank of Canada | &nbsp;&nbsp; 71807 | 6006064 |
| Onex Corp. | &nbsp;&nbsp; 18378 | 1259365 |
| Parkland Corp. | &nbsp;&nbsp; 16718 | 468973 |
| Restaurant Brands International Inc. | &nbsp;&nbsp; 34499 | 2415542 |
| Stantec Inc. | &nbsp;&nbsp; 29615 | 2605751 |
| TFI International Inc. | &nbsp;&nbsp; 10730 | 1670217 |
| Thomson Reuters Corp. | &nbsp;&nbsp; 34135 | 5531964 |
| TMX Group Ltd. | &nbsp;&nbsp; 86557 | 2630596 |
| Wheaton Precious Metals Corp. | &nbsp;&nbsp; 57907 | 3462299 |
| WSP Global Inc. | &nbsp;&nbsp; 17965 | 2984169 |
|  |  | 118913596 |
| **Denmark — 5.2%** | **Denmark — 5.2%** | **Denmark — 5.2%** |
| Danske Bank A/S | &nbsp;&nbsp; 145536 | 4450852 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 813886 | 107834104 |
| Pandora A/S | &nbsp;&nbsp; 21149 | 3315176 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 2108 | 931763 |
|  |  | 116531895 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Finland — 0.2%** | **Finland — 0.2%** | **Finland — 0.2%** |
| Wartsila OYJ Abp | &nbsp;&nbsp; 162096 | $3349687 |
| **France — 8.2%** | **France — 8.2%** | **France — 8.2%** |
| Accor SA | &nbsp;&nbsp; 41243 | 1587159 |
| Air Liquide SA | &nbsp;&nbsp; 81142 | 14805045 |
| Airbus SE | &nbsp;&nbsp; 106897 | 16176358 |
| AXA SA | &nbsp;&nbsp; 241569 | 8481440 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 126982 | 10893244 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 149407 | 5914850 |
| Credit Agricole SA | &nbsp;&nbsp; 212006 | 3217289 |
| EssilorLuxottica SA | &nbsp;&nbsp; 42423 | 9708065 |
| Eurazeo SE | &nbsp;&nbsp; 15915 | 1252116 |
| Euronext NV<sup>(c)</sup> | &nbsp;&nbsp; 16306 | 1648585 |
| Hermes International SCA | &nbsp;&nbsp; 5276 | 11529825 |
| Publicis Groupe SA | &nbsp;&nbsp; 68278 | 7127980 |
| Renault SA | &nbsp;&nbsp; 41282 | 2000614 |
| Safran SA | &nbsp;&nbsp; 105329 | 23140006 |
| Schneider Electric SE | &nbsp;&nbsp; 171909 | 41436114 |
| SEB SA | &nbsp;&nbsp; 4130 | 413280 |
| Sodexo SA | &nbsp;&nbsp; 13583 | 1286409 |
| Thales SA | &nbsp;&nbsp; 12977 | 2062739 |
| TotalEnergies SE | &nbsp;&nbsp; 264116 | 17818927 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 39119 | 2925367 |
|  |  | 183425412 |
| **Germany — 7.0%** | **Germany — 7.0%** | **Germany — 7.0%** |
| adidas AG | &nbsp;&nbsp; 34335 | 8604257 |
| Beiersdorf AG | &nbsp;&nbsp; 14550 | 2111889 |
| Commerzbank AG | &nbsp;&nbsp; 205701 | 3353435 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 15040 | 1324780 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 135511 | 5231936 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 475461 | 7400776 |
| Hannover Rueck SE | &nbsp;&nbsp; 8798 | 2184460 |
| Heidelberg Materials AG | &nbsp;&nbsp; 37229 | 3878486 |
| LEG Immobilien SE | &nbsp;&nbsp; 16532 | 1442111 |
| Muenchener Rueckversicherungs-Gesellschaft AG in <br> Muenchen, Registered<br>| &nbsp;&nbsp; 18484 | 9103828 |
| Nemetschek SE | &nbsp;&nbsp; 7815 | 746458 |
| Rational AG | &nbsp;&nbsp; 1046 | 915644 |
| Rheinmetall AG | &nbsp;&nbsp; 18216 | 9921459 |
| SAP SE | &nbsp;&nbsp; 294273 | 62215267 |
| Siemens AG, Registered | &nbsp;&nbsp; 174028 | 31864002 |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 178829 | 5192933 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 18236 | 1385415 |
|  |  | 156877136 |
| **Hong Kong — 0.2%** | **Hong Kong — 0.2%** | **Hong Kong — 0.2%** |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 6582 | 416509 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 74000 | 638381 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 291000 | 3726747 |
|  |  | 4781637 |
| **Ireland — 0.1%** | **Ireland — 0.1%** | **Ireland — 0.1%** |
| AIB Group PLC | &nbsp;&nbsp; 260465 | 1494049 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 128464 | 1454847 |
|  |  | 2948896 |
| **Israel — 0.5%** | **Israel — 0.5%** | **Israel — 0.5%** |
| Azrieli Group Ltd. | &nbsp;&nbsp; 8303 | 509616 |
| CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 11729 | 3007081 |
| Monday.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 9286 | 2134016 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 301406 | 5253507 |
|  |  | 10904220 |
| **Italy — 3.6%** | **Italy — 3.6%** | **Italy — 3.6%** |
| Banco BPM SpA | &nbsp;&nbsp; 307732 | 2130635 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Momentum Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| Ferrari NV | &nbsp;&nbsp; 40823 | $16801628 |
| Generali | &nbsp;&nbsp; 207035 | 5358689 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 4269551 | 17337930 |
| Leonardo SpA | &nbsp;&nbsp; 133387 | 3177995 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 109081 | 1770738 |
| Poste Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 106164 | 1437200 |
| Prysmian SpA | &nbsp;&nbsp; 82185 | 5649766 |
| Stellantis NV | &nbsp;&nbsp; 388812 | 6479186 |
| UniCredit SpA | &nbsp;&nbsp; 471393 | 19362326 |
|  |  | 79506093 |
| **Japan — 42.7%** | **Japan — 42.7%** | **Japan — 42.7%** |
| Advantest Corp. | &nbsp;&nbsp; 195400 | 8648670 |
| Aeon Co. Ltd. | &nbsp;&nbsp; 97200 | 2217772 |
| Aisin Corp. | &nbsp;&nbsp; 33700 | 1136903 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 71800 | 2957101 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 239300 | 1725656 |
| Asics Corp. | &nbsp;&nbsp; 166300 | 2714071 |
| Bridgestone Corp. | &nbsp;&nbsp; 146300 | 5965184 |
| Brother Industries Ltd. | &nbsp;&nbsp; 45000 | 923236 |
| Canon Inc. | &nbsp;&nbsp; 257600 | 8063317 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 138300 | 1295521 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 135000 | 1702150 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 138300 | 6035754 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 321900 | 2028778 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 39200 | 1289610 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 61000 | 1103995 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 193700 | 5905970 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 388400 | 15818624 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 10000 | 1202601 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 116700 | 3304755 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 630200 | 5202990 |
| Denso Corp. | &nbsp;&nbsp; 373800 | 6129949 |
| Disco Corp. | &nbsp;&nbsp; 47400 | 15850396 |
| East Japan Railway Co. | &nbsp;&nbsp; 126500 | 2410256 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 914000 | 4788940 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 37700 | 10391957 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 63200 | 3554804 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 303100 | 7206483 |
| Fujitsu Ltd. | &nbsp;&nbsp; 397300 | 7215031 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 4000 | 749017 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 21200 | 528031 |
| Hitachi Ltd. | &nbsp;&nbsp; 2235900 | 48310337 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 1250100 | 13356784 |
| Hoshizaki Corp. | &nbsp;&nbsp; 16500 | 519648 |
| Hoya Corp. | &nbsp;&nbsp; 74800 | 9372495 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 69600 | 679373 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 380400 | 2505434 |
| Inpex Corp. | &nbsp;&nbsp; 185800 | 2869028 |
| ITOCHU Corp. | &nbsp;&nbsp; 417100 | 21390317 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 170700 | 4007765 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 371800 | 3869013 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 506000 | 5358772 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 32300 | 664977 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 409900 | 12061381 |
| JFE Holdings Inc. | &nbsp;&nbsp; 100800 | 1476555 |
| Kajima Corp. | &nbsp;&nbsp; 143700 | 2776789 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 221900 | 3797994 |
| Kao Corp. | &nbsp;&nbsp; 99300 | 4348314 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 86800 | 1333695 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 17000 | 508454 |
| Komatsu Ltd. | &nbsp;&nbsp; 267700 | 7610062 |
| Konami Group Corp. | &nbsp;&nbsp; 22100 | 1662795 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Kubota Corp. | &nbsp;&nbsp; 203800 | $2930014 |
| Lasertec Corp. | &nbsp;&nbsp; 18000 | 3193797 |
| Makita Corp. | &nbsp;&nbsp; 37800 | 1245980 |
| Marubeni Corp. | &nbsp;&nbsp; 385800 | 7260664 |
| Mazda Motor Corp. | &nbsp;&nbsp; 121100 | 1044538 |
| McDonald's Holdings Co. Japan Ltd. | &nbsp;&nbsp; 27200 | 1126873 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 188800 | 1115099 |
| Mitsubishi Corp. | &nbsp;&nbsp; 1702100 | 35151860 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 985100 | 16413506 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 550900 | 9389500 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 202300 | 1455431 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 1636700 | 19617610 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 4063900 | 46939469 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 948500 | 22008885 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 37600 | 1087092 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 1208000 | 12514711 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 66400 | 2109073 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 726800 | 16614753 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 643100 | 15160784 |
| NEC Corp. | &nbsp;&nbsp; 123500 | 10689497 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 268800 | 14853455 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 61800 | 2019731 |
| Nippon Steel Corp. | &nbsp;&nbsp; 114100 | 2477384 |
| Nippon Yusen KK | &nbsp;&nbsp; 72400 | 2333009 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 15300 | 1871120 |
| Nitto Denko Corp. | &nbsp;&nbsp; 42700 | 3707789 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 1533000 | 9451876 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 24000 | 670913 |
| NTT Data Group Corp. | &nbsp;&nbsp; 157700 | 2456086 |
| Obayashi Corp. | &nbsp;&nbsp; 234300 | 3076200 |
| Oracle Corp./Japan | &nbsp;&nbsp; 6200 | 506101 |
| ORIX Corp. | &nbsp;&nbsp; 306500 | 7414125 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 119600 | 2707043 |
| Otsuka Corp. | &nbsp;&nbsp; 35700 | 791390 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 147500 | 7517824 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 94700 | 2470648 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 508300 | 29147595 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 348900 | 6009409 |
| Resona Holdings Inc. | &nbsp;&nbsp; 540900 | 3878759 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 89700 | 835045 |
| SBI Holdings Inc. | &nbsp;&nbsp; 67700 | 1759769 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 42000 | 3559068 |
| SCSK Corp. | &nbsp;&nbsp; 40100 | 789485 |
| Secom Co. Ltd. | &nbsp;&nbsp; 38900 | 2483872 |
| Seiko Epson Corp. | &nbsp;&nbsp; 62400 | 1080170 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 64000 | 965632 |
| Sekisui House Ltd. | &nbsp;&nbsp; 162300 | 4066641 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 581300 | 25827550 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 34000 | 1495628 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 110100 | 1099711 |
| SoftBank Corp. | &nbsp;&nbsp; 761100 | 9928360 |
| SoftBank Group Corp. | &nbsp;&nbsp; 227500 | 13903074 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 373700 | 8521076 |
| Subaru Corp. | &nbsp;&nbsp; 186300 | 3581896 |
| Sumitomo Corp. | &nbsp;&nbsp; 440500 | 10945342 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 279600 | 4229527 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 409200 | 29549527 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 155500 | 3930548 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 106900 | 3533337 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 400600 | 4603768 |
| T&D Holdings Inc. | &nbsp;&nbsp; 79000 | 1480913 |
| Taisei Corp. | &nbsp;&nbsp; 30700 | 1303870 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Momentum Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| TDK Corp. | &nbsp;&nbsp; 93200 | $6501846 |
| Terumo Corp. | &nbsp;&nbsp; 347800 | 6235480 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 897700 | 35219559 |
| Tokyo Electric Power Co. Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 502600 | 2517403 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 214800 | 44946331 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 56200 | 1231321 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 41300 | 1168218 |
| Toyota Industries Corp. | &nbsp;&nbsp; 52300 | 4396866 |
| Toyota Motor Corp. | &nbsp;&nbsp; 4484700 | 86154473 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 203100 | 4060582 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 39000 | 1869367 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 177900 | 1656601 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 49500 | 1722789 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 66300 | 1678201 |
|  |  | 955809943 |
| **Netherlands — 6.3%** | **Netherlands — 6.3%** | **Netherlands — 6.3%** |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 50872 | 888065 |
| Aegon Ltd. | &nbsp;&nbsp; 308157 | 1994162 |
| AerCap Holdings NV | &nbsp;&nbsp; 49202 | 4622528 |
| ASM International NV | &nbsp;&nbsp; 11366 | 7820046 |
| ASML Holding NV | &nbsp;&nbsp; 99978 | 93096645 |
| ASR Nederland NV | &nbsp;&nbsp; 33619 | 1689094 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 14612 | 1882385 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 35657 | 2630417 |
| EXOR NV, NVS | &nbsp;&nbsp; 25462 | 2610171 |
| InPost SA<sup>(a)</sup> | &nbsp;&nbsp; 51876 | 898780 |
| Koninklijke Philips NV<sup>(a)</sup> | &nbsp;&nbsp; 189020 | 5309512 |
| NN Group NV | &nbsp;&nbsp; 77071 | 3867743 |
| Universal Music Group NV | &nbsp;&nbsp; 278241 | 6628945 |
| Wolters Kluwer NV | &nbsp;&nbsp; 40813 | 6832475 |
|  |  | 140770968 |
| **Norway — 0.2%** | **Norway — 0.2%** | **Norway — 0.2%** |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 39170 | 3938725 |
| Salmar ASA | &nbsp;&nbsp; 15044 | 865554 |
|  |  | 4804279 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| Galp Energia SGPS SA | &nbsp;&nbsp; 153818 | 3234240 |
| **Singapore — 0.1%** | **Singapore — 0.1%** | **Singapore — 0.1%** |
| Keppel Ltd. | &nbsp;&nbsp; 189100 | 941125 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 160500 | 573879 |
|  |  | 1515004 |
| **Spain — 2.9%** | **Spain — 2.9%** | **Spain — 2.9%** |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 39077 | 1745830 |
| Aena SME SA<sup>(c)</sup> | &nbsp;&nbsp; 12511 | 2377073 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 1589599 | 16660924 |
| Banco de Sabadell SA | &nbsp;&nbsp; 1585912 | 3346662 |
| Banco Santander SA | &nbsp;&nbsp; 3692292 | 17812161 |
| CaixaBank SA | &nbsp;&nbsp; 856087 | 4992903 |
| Ferrovial SE | &nbsp;&nbsp; 96079 | 3820654 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 287187 | 13954090 |
|  |  | 64710297 |
| **Sweden — 2.3%** | **Sweden — 2.3%** | **Sweden — 2.3%** |
| Alfa Laval AB | &nbsp;&nbsp; 60726 | 2685063 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 646235 | 11501469 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 354987 | 5554095 |
| Fastighets AB Balder, Class B<sup>(a)</sup> | &nbsp;&nbsp; 151034 | 1113775 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 73484 | 1143223 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 33016 | 1119148 |
| Investor AB, Class B | &nbsp;&nbsp; 442947 | 12575317 |
| Lifco AB, Class B | &nbsp;&nbsp; 39231 | 1163847 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Saab AB | &nbsp;&nbsp; 95389 | $2202629 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 62209 | 2311846 |
| Volvo AB, Class A | &nbsp;&nbsp; 42596 | 1107347 |
| Volvo AB, Class B | &nbsp;&nbsp; 378155 | 9650800 |
|  |  | 52128559 |
| **Switzerland — 4.5%** | **Switzerland — 4.5%** | **Switzerland — 4.5%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 596501 | 33109748 |
| Givaudan SA, Registered | &nbsp;&nbsp; 2307 | 11318268 |
| Holcim AG | &nbsp;&nbsp; 155684 | 14548733 |
| Logitech International SA, Registered | &nbsp;&nbsp; 19601 | 1765582 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 16653 | 11089385 |
| Sandoz Group AG | &nbsp;&nbsp; 102463 | 4444153 |
| Schindler Holding AG, Participation Certificates, NVS | &nbsp;&nbsp; 9782 | 2618191 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 5366 | 1408787 |
| UBS Group AG, Registered | &nbsp;&nbsp; 582417 | 17647627 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 6581 | 3297975 |
|  |  | 101248449 |
| **United Kingdom — 6.1%** | **United Kingdom — 6.1%** | **United Kingdom — 6.1%** |
| 3i Group PLC | &nbsp;&nbsp; 364657 | 14670411 |
| Antofagasta PLC | &nbsp;&nbsp; 114439 | 2979899 |
| Associated British Foods PLC | &nbsp;&nbsp; 82345 | 2628885 |
| BAE Systems PLC | &nbsp;&nbsp; 625247 | 10427935 |
| Barclays PLC | &nbsp;&nbsp; 3925679 | 11738980 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 13677 | 892867 |
| HSBC Holdings PLC | &nbsp;&nbsp; 2847013 | 25891031 |
| Informa PLC | &nbsp;&nbsp; 163396 | 1825979 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 44706 | 4503934 |
| Intertek Group PLC | &nbsp;&nbsp; 33194 | 2155550 |
| Melrose Industries PLC | &nbsp;&nbsp; 313157 | 2371322 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 2001607 | 9496592 |
| Next PLC | &nbsp;&nbsp; 27287 | 3189296 |
| RELX PLC | &nbsp;&nbsp; 351353 | 16582978 |
| Rolls-Royce Holdings PLC<sup>(a)</sup> | &nbsp;&nbsp; 4301380 | 24905859 |
| Sage Group PLC (The) | &nbsp;&nbsp; 240766 | 3365561 |
|  |  | 137627079 |
| **Total Common Stocks — 99.7%** <br>**(Cost: $1,790,500,076)** | **Total Common Stocks — 99.7%** <br>**(Cost: $1,790,500,076)** | 2233660127 |
| **Warrants** | **Warrants** | **Warrants** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| Constellation Software Inc., (Issued 08/29/23, 1 Share <br> for 1 Warrant, Expires 03/31/40, Strike Price <br> CAD 11.50)<sup>(d)</sup><br>| &nbsp;&nbsp; 6329 |  |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** |  |
| **Total Long-Term Investments — 99.7%** <br>**(Cost: $1,790,500,076)** | **Total Long-Term Investments — 99.7%** <br>**(Cost: $1,790,500,076)** | 2233660127 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp; 1037194 | 1037609 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Momentum Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(e)(f)</sup><br>| &nbsp;&nbsp; 580000 | $580000 |
| **Total Short-Term Securities — 0.1%** <br>**(Cost: $1,617,726)** | **Total Short-Term Securities — 0.1%** <br>**(Cost: $1,617,726)** | 1617609 |
| **Total Investments — 99.8%** <br>**(Cost: $1,792,117,802)** | **Total Investments — 99.8%** <br>**(Cost: $1,792,117,802)** | 2235277736 |
| **Other Assets Less Liabilities — 0.2%** | **Other Assets Less Liabilities — 0.2%** | 5371713 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2240649449 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Annualized 7-day yield as of period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $2381308 | $— | &nbsp;&nbsp; $(1343421 )<sup>(a)</sup><br>| &nbsp;&nbsp; $74 | $(352)<br>| $1037609 | 1037194 | $5035 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 380000 | 200000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 580000 | 580000 | 51342 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $74 | $(352)<br>| $1617609 |  | $56377 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Mini TOPIX Index | &nbsp;&nbsp; 192 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $3549 | &nbsp;&nbsp; $(20140)<br>|
| Euro STOXX 50 Index | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 2970 | &nbsp;&nbsp; (4457)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 107 | &nbsp;&nbsp; 2115 |
|  |  |  |  | &nbsp;&nbsp; $(22482)<br>|

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Momentum Factor ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2115 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2115 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $24597 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $24597 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $879679 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $879679 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(185457)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(185457)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $8882424 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $138194622 | &nbsp;&nbsp; $2095465505 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2233660127 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1617609 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1617609 |
|  | &nbsp;&nbsp; $139812231 | &nbsp;&nbsp; $2095465505 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2235277736 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2115 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2115 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Momentum Factor ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(24597)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(24597)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(22482)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(22482)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® MSCI Intl Quality Factor ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 5.8%** | **Australia — 5.8%** | **Australia — 5.8%** |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 526820 | $18762220 |
| ASX Ltd. | &nbsp;&nbsp; 297426 | 12672185 |
| BHP Group Ltd. | &nbsp;&nbsp; 4977428 | 138247786 |
| Brambles Ltd. | &nbsp;&nbsp; 1267000 | 12916650 |
| Cochlear Ltd. | &nbsp;&nbsp; 33248 | 7512574 |
| Computershare Ltd. | &nbsp;&nbsp; 606603 | 10940695 |
| Fortescue Ltd. | &nbsp;&nbsp; 1920580 | 23897447 |
| Goodman Group | &nbsp;&nbsp; 1339828 | 30931384 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 2385394 | 11540306 |
| James Hardie Industries PLC<sup>(a)</sup> | &nbsp;&nbsp; 424178 | 15238010 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 4524938 | 11779964 |
| Mirvac Group | &nbsp;&nbsp; 2852384 | 4016177 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 56587 | 5338936 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 1666467 | 19667727 |
| REA Group Ltd. | &nbsp;&nbsp; 61998 | 8335610 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 315897 | 24274188 |
| Santos Ltd. | &nbsp;&nbsp; 3025496 | 15771628 |
| Stockland | &nbsp;&nbsp; 2117843 | 6396754 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 239060 | 5564216 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 1124409 | 54266449 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 1619113 | 29362299 |
|  |  | 467433205 |
| **Austria — 0.2%** | **Austria — 0.2%** | **Austria — 0.2%** |
| OMV AG | &nbsp;&nbsp; 165867 | 6939892 |
| Verbund AG | &nbsp;&nbsp; 148601 | 11932006 |
|  |  | 18871898 |
| **Belgium — 0.2%** | **Belgium — 0.2%** | **Belgium — 0.2%** |
| Ageas SA/NV | &nbsp;&nbsp; 196851 | 9397909 |
| D'ieteren Group | &nbsp;&nbsp; 16394 | 3767639 |
| Lotus Bakeries NV | &nbsp;&nbsp; 297 | 3227139 |
|  |  | 16392687 |
| **Canada — 6.9%** | **Canada — 6.9%** | **Canada — 6.9%** |
| Agnico Eagle Mines Ltd. | &nbsp;&nbsp; 330017 | 25463884 |
| Alimentation Couche-Tard Inc. | &nbsp;&nbsp; 495202 | 30526667 |
| ARC Resources Ltd. | &nbsp;&nbsp; 756901 | 13096994 |
| Canadian National Railway Co. | &nbsp;&nbsp; 552153 | 63919613 |
| Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp; 795793 | 66734446 |
| CCL Industries Inc., Class B, NVS | &nbsp;&nbsp; 93205 | 5070530 |
| CGI Inc.<sup>(a)</sup> | &nbsp;&nbsp; 143482 | 16360679 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 14141 | 44618330 |
| Franco-Nevada Corp. | &nbsp;&nbsp; 97860 | 12610909 |
| Great-West Lifeco Inc. | &nbsp;&nbsp; 395581 | 11881899 |
| iA Financial Corp. Inc. | &nbsp;&nbsp; 142357 | 9626226 |
| IGM Financial Inc. | &nbsp;&nbsp; 101782 | 2883940 |
| Imperial Oil Ltd. | &nbsp;&nbsp; 239920 | 17187909 |
| Intact Financial Corp. | &nbsp;&nbsp; 218790 | 39759831 |
| Manulife Financial Corp. | &nbsp;&nbsp; 2234617 | 59529362 |
| Power Corp. of Canada | &nbsp;&nbsp; 598652 | 17326719 |
| Sun Life Financial Inc. | &nbsp;&nbsp; 708821 | 35188202 |
| Suncor Energy Inc. | &nbsp;&nbsp; 1167647 | 46633148 |
| TFI International Inc. | &nbsp;&nbsp; 56569 | 8805449 |
| TMX Group Ltd. | &nbsp;&nbsp; 341362 | 10374497 |
| Toromont Industries Ltd. | &nbsp;&nbsp; 77866 | 7241513 |
| Tourmaline Oil Corp. | &nbsp;&nbsp; 361946 | 15925991 |
|  |  | 560766738 |
| **Denmark — 4.7%** | **Denmark — 4.7%** | **Denmark — 4.7%** |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 69452 | 8386811 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 91833 | 11938336 |
| DSV A/S | &nbsp;&nbsp; 128509 | 23574284 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 2197443 | $291145563 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 336963 | 21450130 |
| Pandora A/S | &nbsp;&nbsp; 72320 | 11336399 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 7786 | 3441510 |
| Tryg A/S | &nbsp;&nbsp; 433374 | 9488335 |
|  |  | 380761368 |
| **Finland — 1.0%** | **Finland — 1.0%** | **Finland — 1.0%** |
| Elisa OYJ | &nbsp;&nbsp; 174227 | 8112256 |
| Fortum OYJ | &nbsp;&nbsp; 543040 | 8350316 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 126490 | 2288040 |
| Kone OYJ, Class B | &nbsp;&nbsp; 498217 | 25441241 |
| Metso OYJ | &nbsp;&nbsp; 547937 | 5567332 |
| Neste OYJ | &nbsp;&nbsp; 793145 | 16007909 |
| Orion OYJ, Class B | &nbsp;&nbsp; 73387 | 3373098 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 345085 | 7131125 |
|  |  | 76271317 |
| **France — 8.5%** | **France — 8.5%** | **France — 8.5%** |
| Air Liquide SA | &nbsp;&nbsp; 380358 | 69399539 |
| Amundi SA<sup>(b)</sup> | &nbsp;&nbsp; 59414 | 4336074 |
| AXA SA | &nbsp;&nbsp; 1987014 | 69763668 |
| Bureau Veritas SA | &nbsp;&nbsp; 217974 | 6820234 |
| Euronext NV<sup>(b)</sup> | &nbsp;&nbsp; 102909 | 10404402 |
| Hermes International SCA | &nbsp;&nbsp; 37420 | 81775222 |
| Kering SA | &nbsp;&nbsp; 53048 | 16293043 |
| La Francaise des Jeux SAEM<sup>(b)</sup> | &nbsp;&nbsp; 144018 | 5587715 |
| Legrand SA | &nbsp;&nbsp; 204201 | 22063287 |
| L'Oreal SA | &nbsp;&nbsp; 191506 | 82816280 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 252215 | 177902928 |
| Publicis Groupe SA | &nbsp;&nbsp; 215141 | 22459954 |
| Remy Cointreau SA | &nbsp;&nbsp; 12043 | 950261 |
| Schneider Electric SE | &nbsp;&nbsp; 408094 | 98365005 |
| STMicroelectronics NV | &nbsp;&nbsp; 509989 | 16861681 |
|  |  | 685799293 |
| **Germany — 5.3%** | **Germany — 5.3%** | **Germany — 5.3%** |
| Allianz SE, Registered | &nbsp;&nbsp; 554517 | 156188246 |
| Bechtle AG | &nbsp;&nbsp; 52105 | 2302706 |
| Beiersdorf AG | &nbsp;&nbsp; 47939 | 6958203 |
| Brenntag SE | &nbsp;&nbsp; 103173 | 7339347 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 74263 | 6541365 |
| Deutsche Boerse AG | &nbsp;&nbsp; 271897 | 55675924 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 592998 | 26450991 |
| GEA Group AG | &nbsp;&nbsp; 143294 | 6327213 |
| Hannover Rueck SE | &nbsp;&nbsp; 83701 | 20782164 |
| Knorr-Bremse AG | &nbsp;&nbsp; 59621 | 4794472 |
| Muenchener Rueckversicherungs-Gesellschaft AG in <br> Muenchen, Registered<br>| &nbsp;&nbsp; 191533 | 94334745 |
| Nemetschek SE | &nbsp;&nbsp; 48061 | 4590599 |
| Rational AG | &nbsp;&nbsp; 6668 | 5837013 |
| Rheinmetall AG | &nbsp;&nbsp; 33683 | 18345657 |
| Scout24 SE<sup>(b)</sup> | &nbsp;&nbsp; 77580 | 6133275 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 67776 | 5149039 |
|  |  | 427750959 |
| **Hong Kong — 2.2%** | **Hong Kong — 2.2%** | **Hong Kong — 2.2%** |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 2081000 | 7951646 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 810000 | 5402496 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 1935500 | 16611654 |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 56462 | 3572915 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 939800 | 11508625 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 1280000 | 3595292 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 12214370 | 9953155 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 2262100 | 66725208 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Quality Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 1928000 | $12288051 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 3154000 | 3262365 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 1397000 | 3117793 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 1576000 | 13645832 |
| Swire Properties Ltd. | &nbsp;&nbsp; 1188600 | 1877191 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 1109500 | 14209024 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 951005 | 2607511 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 1271000 | 3124650 |
|  |  | 179453408 |
| **Ireland — 0.1%** | **Ireland — 0.1%** | **Ireland — 0.1%** |
| Kingspan Group PLC | &nbsp;&nbsp; 117509 | 10994633 |
| **Israel — 0.7%** | **Israel — 0.7%** | **Israel — 0.7%** |
| Bank Hapoalim BM | &nbsp;&nbsp; 1582834 | 14524615 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 1479916 | 12753161 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 102540 | 18810963 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 177528 | 6406322 |
|  |  | 52495061 |
| **Italy — 2.2%** | **Italy — 2.2%** | **Italy — 2.2%** |
| Ferrari NV | &nbsp;&nbsp; 156252 | 64309041 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 1110418 | 18850698 |
| Generali | &nbsp;&nbsp; 1169547 | 30271399 |
| Moncler SpA | &nbsp;&nbsp; 200429 | 11950792 |
| Prysmian SpA | &nbsp;&nbsp; 180880 | 12434505 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 64073 | 3488337 |
| Stellantis NV | &nbsp;&nbsp; 1587739 | 26458176 |
| Tenaris SA, NVS | &nbsp;&nbsp; 437810 | 6946655 |
|  |  | 174709603 |
| **Japan — 12.9%** | **Japan — 12.9%** | **Japan — 12.9%** |
| Advantest Corp. | &nbsp;&nbsp; 545100 | 24126869 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 412800 | 8772309 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 497600 | 10630685 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 675400 | 8515794 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 431800 | 18844820 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 226900 | 4106501 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 117700 | 14154613 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 771700 | 21853296 |
| Disco Corp. | &nbsp;&nbsp; 76900 | 25715095 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 135600 | 37377969 |
| Hitachi Ltd. | &nbsp;&nbsp; 3458200 | 74720161 |
| Hoya Corp. | &nbsp;&nbsp; 224900 | 28180135 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 830700 | 19503515 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 1240 | 4300948 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 539000 | 15860171 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 803800 | 13757674 |
| KDDI Corp. | &nbsp;&nbsp; 1461700 | 43982561 |
| Kikkoman Corp. | &nbsp;&nbsp; 315500 | 3948149 |
| Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 110800 | 2974853 |
| Konami Group Corp. | &nbsp;&nbsp; 91500 | 6884422 |
| Lasertec Corp. | &nbsp;&nbsp; 101300 | 17973979 |
| M3 Inc. | &nbsp;&nbsp; 225200 | 2102750 |
| McDonald's Holdings Co. Japan Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 62800 | 2601750 |
| MonotaRO Co. Ltd. | &nbsp;&nbsp; 298200 | 4215444 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 1833200 | 43216839 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 278900 | 6007144 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 1252100 | 69189029 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 1273 | 4912826 |
| Nippon Prologis REIT Inc. | &nbsp;&nbsp; 1972 | 3258134 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 23897100 | 25467455 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 97300 | 3139476 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 91900 | 2732443 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 55900 | $6836315 |
| Nitto Denko Corp. | &nbsp;&nbsp; 85900 | 7458995 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 3037 | 2979446 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 237600 | 7335114 |
| Obic Co. Ltd. | &nbsp;&nbsp; 43000 | 6556772 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 201700 | 2975544 |
| Oracle Corp./Japan | &nbsp;&nbsp; 48400 | 3950852 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 459300 | 10395862 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 1231300 | 70606795 |
| Secom Co. Ltd. | &nbsp;&nbsp; 131800 | 8415792 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 243800 | 3678453 |
| Sekisui House Ltd. | &nbsp;&nbsp; 378600 | 9486324 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 211100 | 2146601 |
| Shimano Inc. | &nbsp;&nbsp; 49200 | 8728278 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 1199100 | 53276821 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 111900 | 4922377 |
| SMC Corp. | &nbsp;&nbsp; 39900 | 19413950 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 1392500 | 31751667 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 2767600 | 108581544 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 393200 | 82276058 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 399000 | 8741941 |
| Unicharm Corp. | &nbsp;&nbsp; 208100 | 6971474 |
| ZOZO Inc. | &nbsp;&nbsp; 183100 | 5360239 |
|  |  | 1045875023 |
| **Netherlands — 7.3%** | **Netherlands — 7.3%** | **Netherlands — 7.3%** |
| Adyen NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 39175 | 47920354 |
| ASM International NV | &nbsp;&nbsp; 33273 | 22892522 |
| ASML Holding NV | &nbsp;&nbsp; 403374 | 375610296 |
| ASR Nederland NV | &nbsp;&nbsp; 163089 | 8193957 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 80358 | 10352088 |
| IMCD NV | &nbsp;&nbsp; 38729 | 5568976 |
| Koninklijke KPN NV | &nbsp;&nbsp; 3486676 | 13738145 |
| Prosus NV | &nbsp;&nbsp; 1005606 | 35078837 |
| Randstad NV | &nbsp;&nbsp; 95965 | 4673971 |
| Universal Music Group NV | &nbsp;&nbsp; 1188493 | 28315220 |
| Wolters Kluwer NV | &nbsp;&nbsp; 244021 | 40851381 |
|  |  | 593195747 |
| **New Zealand — 0.1%** | **New Zealand — 0.1%** | **New Zealand — 0.1%** |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 271501 | 5241281 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 2209560 | 5678531 |
|  |  | 10919812 |
| **Norway — 0.6%** | **Norway — 0.6%** | **Norway — 0.6%** |
| Aker BP ASA | &nbsp;&nbsp; 316237 | 7657424 |
| Equinor ASA | &nbsp;&nbsp; 983610 | 26046185 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 323676 | 5475876 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 91020 | 9152483 |
| Orkla ASA | &nbsp;&nbsp; 313904 | 2649190 |
|  |  | 50981158 |
| **Portugal — 0.0%** | **Portugal — 0.0%** | **Portugal — 0.0%** |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 178196 | 3114570 |
| **Singapore — 1.7%** | **Singapore — 1.7%** | **Singapore — 1.7%** |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 3560800 | 7269581 |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 2211980 | 60615796 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 4271900 | 47549002 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 1100700 | 3935629 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 1863200 | 13737191 |
|  |  | 133107199 |
| **Spain — 2.2%** | **Spain — 2.2%** | **Spain — 2.2%** |
| Iberdrola SA | &nbsp;&nbsp; 6856737 | 90565109 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 1241476 | 60321906 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Quality Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Redeia Corp. SA | &nbsp;&nbsp; 120954 | $2147523 |
| Repsol SA | &nbsp;&nbsp; 1513692 | 21589667 |
|  |  | 174624205 |
| **Sweden — 4.6%** | **Sweden — 4.6%** | **Sweden — 4.6%** |
| Alfa Laval AB | &nbsp;&nbsp; 242006 | 10700547 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 677999 | 20647983 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 3549373 | 63170522 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 2077847 | 32509810 |
| Boliden AB | &nbsp;&nbsp; 152646 | 4668311 |
| Epiroc AB | &nbsp;&nbsp; 686462 | 12813068 |
| Epiroc AB, Class B | &nbsp;&nbsp; 444244 | 7469703 |
| EQT AB | &nbsp;&nbsp; 399798 | 12945412 |
| Essity AB, Class B | &nbsp;&nbsp; 322156 | 9057840 |
| Evolution AB<sup>(b)</sup> | &nbsp;&nbsp; 222204 | 21524733 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 142155 | 4876510 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 232186 | 7870437 |
| Indutrade AB | &nbsp;&nbsp; 257728 | 7578506 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 109166 | 3205817 |
| Investor AB, Class B | &nbsp;&nbsp; 2263491 | 64260775 |
| Lifco AB, Class B | &nbsp;&nbsp; 219242 | 6504143 |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 1107821 | 4868036 |
| Sandvik AB | &nbsp;&nbsp; 855991 | 17523695 |
| SKF AB, Class B | &nbsp;&nbsp; 260462 | 4842213 |
| Volvo AB, Class A | &nbsp;&nbsp; 212289 | 5518771 |
| Volvo AB, Class B | &nbsp;&nbsp; 1810141 | 46196159 |
|  |  | 368752991 |
| **Switzerland — 15.1%** | **Switzerland — 15.1%** | **Switzerland — 15.1%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 1803402 | 100100732 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 51121 | 9148679 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 1654 | 2661305 |
| BKW AG | &nbsp;&nbsp; 31544 | 5706039 |
| Chocoladefabriken Lindt & Spruengli AG, <br> Participation Certificates, NVS<br>| &nbsp;&nbsp; 585 | 7332157 |
| Chocoladefabriken Lindt & Spruengli AG, Registered | &nbsp;&nbsp; 49 | 6067590 |
| Cie. Financiere Richemont SA, Class A, Registered | &nbsp;&nbsp; 412661 | 62943723 |
| Clariant AG, Registered | &nbsp;&nbsp; 114616 | 1700163 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 7383 | 6173930 |
| Geberit AG, Registered | &nbsp;&nbsp; 42352 | 26964083 |
| Givaudan SA, Registered | &nbsp;&nbsp; 6694 | 32841129 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 51823 | 7730907 |
| Holcim AG | &nbsp;&nbsp; 298819 | 27924757 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 61837 | 19168889 |
| Logitech International SA, Registered | &nbsp;&nbsp; 129373 | 11653418 |
| Nestle SA, Registered | &nbsp;&nbsp; 2193137 | 222148532 |
| Novartis AG, Registered | &nbsp;&nbsp; 1263911 | 141087635 |
| Partners Group Holding AG | &nbsp;&nbsp; 47342 | 63724355 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 26764 | 9413216 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 570636 | 184748760 |
| Schindler Holding AG, Participation Certificates, NVS | &nbsp;&nbsp; 38501 | 10304945 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 21737 | 5706820 |
| Sika AG, Registered | &nbsp;&nbsp; 107379 | 32601995 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 38793 | 11891449 |
| Straumann Holding AG | &nbsp;&nbsp; 89949 | 11599077 |
| Swiss Re AG | &nbsp;&nbsp; 371873 | 45845746 |
| Swisscom AG, Registered | &nbsp;&nbsp; 24243 | 14837735 |
| VAT Group AG<sup>(b)</sup> | &nbsp;&nbsp; 29090 | 14578043 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 223547 | 122899462 |
|  |  | 1219505271 |
| **United Kingdom — 17.1%** | **United Kingdom — 17.1%** | **United Kingdom — 17.1%** |
| 3i Group PLC | &nbsp;&nbsp; 1130076 | 45463761 |
| Admiral Group PLC | &nbsp;&nbsp; 473043 | 16764455 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Ashtead Group PLC | &nbsp;&nbsp; 355118 | $25627943 |
| AstraZeneca PLC | &nbsp;&nbsp; 1107684 | 175978614 |
| Auto Trader Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 1486947 | 15575562 |
| BAE Systems PLC | &nbsp;&nbsp; 2500924 | 41710672 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 88551 | 5780820 |
| Bunzl PLC | &nbsp;&nbsp; 288444 | 12085617 |
| Burberry Group PLC | &nbsp;&nbsp; 426100 | 4264331 |
| Centrica PLC | &nbsp;&nbsp; 6806952 | 11605676 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 119460 | 4359085 |
| Compass Group PLC | &nbsp;&nbsp; 1622827 | 49974970 |
| Croda International PLC | &nbsp;&nbsp; 72627 | 3776180 |
| Diageo PLC | &nbsp;&nbsp; 1547373 | 48146461 |
| Experian PLC | &nbsp;&nbsp; 623618 | 29422303 |
| GSK PLC | &nbsp;&nbsp; 3113297 | 60456436 |
| Halma PLC | &nbsp;&nbsp; 266372 | 9117532 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 837383 | 11895932 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 88205 | 2156599 |
| Imperial Brands PLC | &nbsp;&nbsp; 726359 | 20019790 |
| Intertek Group PLC | &nbsp;&nbsp; 167430 | 10872561 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 2602350 | 4402772 |
| Land Securities Group PLC | &nbsp;&nbsp; 662350 | 5416307 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 526805 | 64125688 |
| Mondi PLC, NVS | &nbsp;&nbsp; 264346 | 5168403 |
| Next PLC | &nbsp;&nbsp; 123970 | 14489576 |
| Persimmon PLC | &nbsp;&nbsp; 203523 | 4150297 |
| Prudential PLC | &nbsp;&nbsp; 3026442 | 27311783 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 546846 | 29416842 |
| RELX PLC | &nbsp;&nbsp; 1949190 | 91996866 |
| Rio Tinto PLC | &nbsp;&nbsp; 926964 | 60283153 |
| Sage Group PLC (The) | &nbsp;&nbsp; 661885 | 9252196 |
| Schroders PLC | &nbsp;&nbsp; 1042622 | 5268863 |
| Segro PLC | &nbsp;&nbsp; 1155224 | 13597688 |
| Shell PLC | &nbsp;&nbsp; 6316672 | 230330373 |
| Smiths Group PLC | &nbsp;&nbsp; 269699 | 6194759 |
| Spirax Group PLC | &nbsp;&nbsp; 58159 | 6789889 |
| SSE PLC | &nbsp;&nbsp; 1699890 | 41140397 |
| Unilever PLC | &nbsp;&nbsp; 2204701 | 135489183 |
| Wise PLC, Class A<sup>(a)</sup> | &nbsp;&nbsp; 1117617 | 10290556 |
| WPP PLC | &nbsp;&nbsp; 1147087 | 11064890 |
|  |  | 1381235781 |
| **Total Common Stocks — 99.4%** <br>**(Cost: $6,746,697,319)** | **Total Common Stocks — 99.4%** <br>**(Cost: $6,746,697,319)** | 8033011927 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.1%** | **Germany — 0.1%** | **Germany — 0.1%** |
| Dr Ing hc F Porsche AG, Preference <br> Shares, NVS<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 123594 | 9306715 |
| **Total Preferred Stocks — 0.1%** <br>**(Cost: $14,015,699)** | **Total Preferred Stocks — 0.1%** <br>**(Cost: $14,015,699)** | 9306715 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Quality Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Warrants** | **Warrants** | **Warrants** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| Constellation Software Inc., (Issued 08/29/23, <br> 1 Share for 1 Warrant, Expires 03/31/40, Strike <br> Price CAD 11.50)<sup>(d)</sup><br>| &nbsp;&nbsp; 15091 | $— |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** |  |
| **Total Long-Term Investments — 99.5%** <br>**(Cost: $6,760,713,018)** | **Total Long-Term Investments — 99.5%** <br>**(Cost: $6,760,713,018)** | 8042318642 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp; 9386487 | 9390242 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(e)(f)</sup><br>| &nbsp;&nbsp; 2180000 | 2180000 |
| **Total Short-Term Securities — 0.1%** <br>**(Cost: $11,570,223)** | **Total Short-Term Securities — 0.1%** <br>**(Cost: $11,570,223)** | 11570242 |
| **Total Investments — 99.6%** <br>**(Cost: $6,772,283,241)** | **Total Investments — 99.6%** <br>**(Cost: $6,772,283,241)** | 8053888884 |
| **Other Assets Less Liabilities — 0.4%** | **Other Assets Less Liabilities — 0.4%** | 30110032 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $8083998916 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> 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. 

<sup>(c)</sup> All or a portion of this security is on loan.

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Annualized 7-day yield as of period end.

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $631745<br> $8754980 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $3561 | $(44)<br>| $9390242 | 9386487 | $33427 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 1540000<br> 640000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 2180000 | 2180000 | 228237 | &nbsp;&nbsp; — |
|  |  |  | $3561 | $(44)<br>| $11570242 |  | $261664 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $7763 | &nbsp;&nbsp; $(101430)<br>|
| SPI 200 Index | &nbsp;&nbsp; 49 | &nbsp;&nbsp; 09/19/24 | &nbsp;&nbsp; 6475 | &nbsp;&nbsp; 307506 |
| Euro STOXX 50 Index | &nbsp;&nbsp; 306 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 16227 | &nbsp;&nbsp; (39513)<br>|

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Quality Factor ETF**

**Futures Contracts (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of*<br> *Contracts*<br>| *Expiration*<br> *Date*<br>| *Notional*<br> *Amount*<br> *(000)*<br>| *Value/*<br> *Unrealized*<br> *Appreciation*<br> *(Depreciation)*<br>|
| FTSE 100 Index | &nbsp;&nbsp; 81 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $8711 | &nbsp;&nbsp; $186596 |
|  |  |  |  | &nbsp;&nbsp; $353159 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $494102 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $494102 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $140943 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $140943 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4471637 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4471637 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(720523)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(720523)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $43578097 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $592865423 | &nbsp;&nbsp; $7440146504 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $8033011927 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 9306715 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9306715 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Quality Factor ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; $11570242 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11570242 |
|  | &nbsp;&nbsp; $604435665 | &nbsp;&nbsp; $7449453219 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $8053888884 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $494102 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $494102 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (140943)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (140943)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $353159 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $353159 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® MSCI Intl Size Factor ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 7.2%** | **Australia — 7.2%** | **Australia — 7.2%** |
| Ampol Ltd. | &nbsp;&nbsp; 307 | $6725 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 309 | 5879 |
| APA Group | &nbsp;&nbsp; 1115 | 5779 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 213 | 7586 |
| ASX Ltd. | &nbsp;&nbsp; 165 | 7030 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 2727 | 6649 |
| BHP Group Ltd. | &nbsp;&nbsp; 203 | 5638 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 483 | 7014 |
| Brambles Ltd. | &nbsp;&nbsp; 694 | 7075 |
| CAR Group Ltd. | &nbsp;&nbsp; 284 | 6495 |
| Cochlear Ltd. | &nbsp;&nbsp; 32 | 7231 |
| Coles Group Ltd. | &nbsp;&nbsp; 616 | 7301 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 75 | 6758 |
| Computershare Ltd. | &nbsp;&nbsp; 373 | 6727 |
| CSL Ltd. | &nbsp;&nbsp; 32 | 6495 |
| Dexus | &nbsp;&nbsp; 1384 | 6381 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 1970 | 7085 |
| Fortescue Ltd. | &nbsp;&nbsp; 364 | 4529 |
| Goodman Group | &nbsp;&nbsp; 288 | 6649 |
| GPT Group (The) | &nbsp;&nbsp; 2294 | 6988 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 1549 | 7494 |
| James Hardie Industries PLC<sup>(a)</sup> | &nbsp;&nbsp; 207 | 7436 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 1912 | 6230 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 51 | 7019 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 2874 | 7482 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 131 | 4685 |
| Mirvac Group | &nbsp;&nbsp; 4823 | 6791 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 281 | 7097 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 673 | 6246 |
| Orica Ltd. | &nbsp;&nbsp; 570 | 6707 |
| Origin Energy Ltd. | &nbsp;&nbsp; 1033 | 7088 |
| Pilbara Minerals Ltd. | &nbsp;&nbsp; 2598 | 5022 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 91 | 8586 |
| Qantas Airways Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1614 | 6838 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 583 | 6881 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 194 | 5908 |
| REA Group Ltd. | &nbsp;&nbsp; 52 | 6991 |
| Reece Ltd. | &nbsp;&nbsp; 396 | 7176 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 71 | 5456 |
| Santos Ltd. | &nbsp;&nbsp; 1280 | 6672 |
| Scentre Group | &nbsp;&nbsp; 2995 | 6830 |
| SEEK Ltd. | &nbsp;&nbsp; 445 | 6444 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 254 | 6517 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 393 | 7122 |
| South32 Ltd. | &nbsp;&nbsp; 2572 | 5159 |
| Stockland | &nbsp;&nbsp; 2195 | 6630 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 619 | 7202 |
| Telstra Group Ltd. | &nbsp;&nbsp; 2367 | 6117 |
| Transurban Group | &nbsp;&nbsp; 810 | 6912 |
| Treasury Wine Estates Ltd. | &nbsp;&nbsp; 895 | 7236 |
| Vicinity Ltd. | &nbsp;&nbsp; 5175 | 7176 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 329 | 7658 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 147 | 7094 |
| Westpac Banking Corp. | &nbsp;&nbsp; 350 | 6840 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 100 | 6266 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 343 | 6220 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 316 | 7130 |
| Xero Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 80 | 7289 |
|  |  | 387661 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Austria — 0.5%** | **Austria — 0.5%** | **Austria — 0.5%** |
| Erste Group Bank AG | &nbsp;&nbsp; 123 | $6398 |
| OMV AG | &nbsp;&nbsp; 128 | 5356 |
| Verbund AG | &nbsp;&nbsp; 83 | 6664 |
| voestalpine AG | &nbsp;&nbsp; 223 | 5719 |
|  |  | 24137 |
| **Belgium — 1.6%** | **Belgium — 1.6%** | **Belgium — 1.6%** |
| Ageas SA/NV | &nbsp;&nbsp; 127 | 6063 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 95 | 5641 |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 18 | 9203 |
| D'ieteren Group | &nbsp;&nbsp; 30 | 6895 |
| Elia Group SA/NV | &nbsp;&nbsp; 63 | 6543 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 79 | 5896 |
| KBC Group NV | &nbsp;&nbsp; 82 | 6342 |
| Lotus Bakeries NV | &nbsp;&nbsp; 1 | 10866 |
| Sofina SA | &nbsp;&nbsp; 27 | 6380 |
| Syensqo SA | &nbsp;&nbsp; 66 | 5836 |
| UCB SA | &nbsp;&nbsp; 46 | 7686 |
| Umicore SA | &nbsp;&nbsp; 341 | 4683 |
| Warehouses De Pauw CVA | &nbsp;&nbsp; 226 | 6122 |
|  |  | 88156 |
| **Canada — 10.7%** | **Canada — 10.7%** | **Canada — 10.7%** |
| Agnico Eagle Mines Ltd. | &nbsp;&nbsp; 92 | 7099 |
| Air Canada<sup>(a)</sup> | &nbsp;&nbsp; 508 | 5854 |
| Alimentation Couche-Tard Inc. | &nbsp;&nbsp; 110 | 6781 |
| AltaGas Ltd. | &nbsp;&nbsp; 291 | 6939 |
| ARC Resources Ltd. | &nbsp;&nbsp; 360 | 6229 |
| Bank of Montreal | &nbsp;&nbsp; 63 | 5314 |
| Bank of Nova Scotia (The) | &nbsp;&nbsp; 120 | 5603 |
| Barrick Gold Corp. | &nbsp;&nbsp; 361 | 6688 |
| BCE Inc. | &nbsp;&nbsp; 195 | 6577 |
| Brookfield Asset Management Ltd. | &nbsp;&nbsp; 164 | 7158 |
| Brookfield Corp., Class A | &nbsp;&nbsp; 149 | 7266 |
| Brookfield Renewable Corp., Class A | &nbsp;&nbsp; 218 | 6128 |
| BRP Inc. | &nbsp;&nbsp; 105 | 7607 |
| CAE Inc.<sup>(a)</sup> | &nbsp;&nbsp; 339 | 6168 |
| Cameco Corp. | &nbsp;&nbsp; 122 | 5553 |
| Canadian Apartment Properties REIT | &nbsp;&nbsp; 201 | 6988 |
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp; 124 | 6413 |
| Canadian National Railway Co. | &nbsp;&nbsp; 52 | 6020 |
| Canadian Natural Resources Ltd. | &nbsp;&nbsp; 170 | 6036 |
| Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp; 77 | 6457 |
| Canadian Tire Corp. Ltd., Class A, NVS | &nbsp;&nbsp; 56 | 5751 |
| Canadian Utilities Ltd., Class A, NVS | &nbsp;&nbsp; 321 | 7517 |
| CCL Industries Inc., Class B, NVS | &nbsp;&nbsp; 131 | 7127 |
| Cenovus Energy Inc. | &nbsp;&nbsp; 311 | 6267 |
| CGI Inc.<sup>(a)</sup> | &nbsp;&nbsp; 58 | 6613 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 2 | 6310 |
| Descartes Systems Group Inc. (The)<sup>(a)</sup> | &nbsp;&nbsp; 69 | 7018 |
| Dollarama Inc. | &nbsp;&nbsp; 73 | 6843 |
| Element Fleet Management Corp. | &nbsp;&nbsp; 375 | 7173 |
| Emera Inc. | &nbsp;&nbsp; 186 | 6714 |
| Empire Co. Ltd., NVS | &nbsp;&nbsp; 271 | 7164 |
| Enbridge Inc. | &nbsp;&nbsp; 169 | 6325 |
| Fairfax Financial Holdings Ltd. | &nbsp;&nbsp; 6 | 7076 |
| First Quantum Minerals Ltd. | &nbsp;&nbsp; 462 | 5655 |
| FirstService Corp. | &nbsp;&nbsp; 43 | 7497 |
| Fortis Inc./Canada | &nbsp;&nbsp; 181 | 7567 |
| Franco-Nevada Corp. | &nbsp;&nbsp; 50 | 6443 |
| George Weston Ltd. | &nbsp;&nbsp; 45 | 6969 |
| GFL Environmental Inc. | &nbsp;&nbsp; 207 | 8032 |
| Gildan Activewear Inc. | &nbsp;&nbsp; 192 | 7818 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Size Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Great-West Lifeco Inc. | &nbsp;&nbsp; 206 | $6187 |
| Hydro One Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 235 | 7365 |
| iA Financial Corp. Inc. | &nbsp;&nbsp; 98 | 6627 |
| IGM Financial Inc. | &nbsp;&nbsp; 246 | 6970 |
| Imperial Oil Ltd. | &nbsp;&nbsp; 98 | 7021 |
| Intact Financial Corp. | &nbsp;&nbsp; 38 | 6906 |
| Ivanhoe Mines Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 418 | 5465 |
| Keyera Corp. | &nbsp;&nbsp; 254 | 7166 |
| Kinross Gold Corp. | &nbsp;&nbsp; 835 | 7590 |
| Loblaw Companies Ltd. | &nbsp;&nbsp; 55 | 6782 |
| Lundin Mining Corp. | &nbsp;&nbsp; 520 | 5250 |
| Magna International Inc. | &nbsp;&nbsp; 135 | 5991 |
| Manulife Financial Corp. | &nbsp;&nbsp; 242 | 6447 |
| MEG Energy Corp.<sup>(a)</sup> | &nbsp;&nbsp; 310 | 6424 |
| Metro Inc./CN | &nbsp;&nbsp; 112 | 6670 |
| National Bank of Canada | &nbsp;&nbsp; 79 | 6608 |
| Northland Power Inc. | &nbsp;&nbsp; 411 | 6874 |
| Nutrien Ltd. | &nbsp;&nbsp; 114 | 5847 |
| Onex Corp. | &nbsp;&nbsp; 96 | 6578 |
| Open Text Corp. | &nbsp;&nbsp; 213 | 6714 |
| Pan American Silver Corp. | &nbsp;&nbsp; 311 | 7150 |
| Parkland Corp. | &nbsp;&nbsp; 236 | 6620 |
| Pembina Pipeline Corp. | &nbsp;&nbsp; 181 | 7015 |
| Power Corp. of Canada | &nbsp;&nbsp; 204 | 5904 |
| Quebecor Inc., Class B | &nbsp;&nbsp; 295 | 6517 |
| RB Global Inc. | &nbsp;&nbsp; 88 | 7011 |
| Restaurant Brands International Inc. | &nbsp;&nbsp; 90 | 6302 |
| RioCan REIT | &nbsp;&nbsp; 461 | 5970 |
| Rogers Communications Inc., Class B, NVS | &nbsp;&nbsp; 169 | 6535 |
| Royal Bank of Canada | &nbsp;&nbsp; 59 | 6593 |
| Saputo Inc. | &nbsp;&nbsp; 342 | 7860 |
| Shopify Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 96 | 5880 |
| Stantec Inc. | &nbsp;&nbsp; 81 | 7127 |
| Sun Life Financial Inc. | &nbsp;&nbsp; 114 | 5659 |
| Suncor Energy Inc. | &nbsp;&nbsp; 152 | 6070 |
| TC Energy Corp. | &nbsp;&nbsp; 159 | 6751 |
| Teck Resources Ltd., Class B | &nbsp;&nbsp; 123 | 6029 |
| TELUS Corp. | &nbsp;&nbsp; 405 | 6539 |
| TFI International Inc. | &nbsp;&nbsp; 51 | 7939 |
| Thomson Reuters Corp. | &nbsp;&nbsp; 36 | 5834 |
| TMX Group Ltd. | &nbsp;&nbsp; 248 | 7537 |
| Toromont Industries Ltd. | &nbsp;&nbsp; 76 | 7068 |
| Toronto-Dominion Bank (The) | &nbsp;&nbsp; 97 | 5728 |
| Tourmaline Oil Corp. | &nbsp;&nbsp; 135 | 5940 |
| West Fraser Timber Co. Ltd. | &nbsp;&nbsp; 84 | 7449 |
| Wheaton Precious Metals Corp. | &nbsp;&nbsp; 114 | 6816 |
| WSP Global Inc. | &nbsp;&nbsp; 42 | 6977 |
|  |  | 577059 |
| **Denmark — 1.7%** | **Denmark — 1.7%** | **Denmark — 1.7%** |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 1 | 1625 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 3 | 4963 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 45 | 5434 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 51 | 6630 |
| Danske Bank A/S | &nbsp;&nbsp; 213 | 6514 |
| Demant A/S<sup>(a)</sup> | &nbsp;&nbsp; 141 | 5406 |
| DSV A/S | &nbsp;&nbsp; 43 | 7888 |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 23 | 6497 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 39 | 5167 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 107 | 6811 |
| Orsted A/S<sup>(a)(b)</sup> | &nbsp;&nbsp; 110 | 6557 |
| Pandora A/S | &nbsp;&nbsp; 39 | 6113 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 18 | 7956 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| Tryg A/S | &nbsp;&nbsp; 303 | $6634 |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 234 | 5791 |
|  |  | 89986 |
| **Finland — 1.5%** | **Finland — 1.5%** | **Finland — 1.5%** |
| Elisa OYJ | &nbsp;&nbsp; 128 | 5960 |
| Fortum OYJ | &nbsp;&nbsp; 424 | 6520 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 362 | 6548 |
| Kone OYJ, Class B | &nbsp;&nbsp; 123 | 6281 |
| Metso OYJ | &nbsp;&nbsp; 538 | 5466 |
| Neste OYJ | &nbsp;&nbsp; 307 | 6196 |
| Nokia OYJ | &nbsp;&nbsp; 1872 | 7357 |
| Nordea Bank Abp | &nbsp;&nbsp; 470 | 5500 |
| Orion OYJ, Class B | &nbsp;&nbsp; 168 | 7722 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 139 | 6093 |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 437 | 5463 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 173 | 5722 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 335 | 6923 |
|  |  | 81751 |
| **France — 6.8%** | **France — 6.8%** | **France — 6.8%** |
| Accor SA | &nbsp;&nbsp; 146 | 5619 |
| Aeroports de Paris SA | &nbsp;&nbsp; 47 | 6175 |
| Air Liquide SA | &nbsp;&nbsp; 33 | 6021 |
| Airbus SE | &nbsp;&nbsp; 35 | 5296 |
| Alstom SA<sup>(a)</sup> | &nbsp;&nbsp; 354 | 6936 |
| Amundi SA<sup>(b)</sup> | &nbsp;&nbsp; 91 | 6641 |
| ArcelorMittal SA | &nbsp;&nbsp; 234 | 5328 |
| Arkema SA | &nbsp;&nbsp; 65 | 5866 |
| AXA SA | &nbsp;&nbsp; 177 | 6214 |
| BioMerieux | &nbsp;&nbsp; 64 | 6754 |
| BNP Paribas SA | &nbsp;&nbsp; 84 | 5755 |
| Bollore SE | &nbsp;&nbsp; 945 | 5882 |
| Bouygues SA | &nbsp;&nbsp; 163 | 5628 |
| Bureau Veritas SA | &nbsp;&nbsp; 225 | 7040 |
| Capgemini SE | &nbsp;&nbsp; 29 | 5757 |
| Carrefour SA | &nbsp;&nbsp; 295 | 4401 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 79 | 6777 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 160 | 6334 |
| Covivio SA/France | &nbsp;&nbsp; 126 | 6486 |
| Credit Agricole SA | &nbsp;&nbsp; 386 | 5858 |
| Danone SA | &nbsp;&nbsp; 94 | 6107 |
| Dassault Aviation SA | &nbsp;&nbsp; 29 | 5839 |
| Dassault Systemes SE | &nbsp;&nbsp; 147 | 5573 |
| Edenred SE | &nbsp;&nbsp; 132 | 5496 |
| Eiffage SA | &nbsp;&nbsp; 60 | 5971 |
| Engie SA | &nbsp;&nbsp; 320 | 5030 |
| EssilorLuxottica SA | &nbsp;&nbsp; 28 | 6408 |
| Eurazeo SE | &nbsp;&nbsp; 83 | 6530 |
| Eurofins Scientific SE | &nbsp;&nbsp; 111 | 6572 |
| Euronext NV<sup>(b)</sup> | &nbsp;&nbsp; 74 | 7482 |
| Gecina SA | &nbsp;&nbsp; 61 | 6047 |
| Getlink SE | &nbsp;&nbsp; 330 | 5881 |
| Hermes International SCA | &nbsp;&nbsp; 2 | 4371 |
| Ipsen SA | &nbsp;&nbsp; 50 | 5614 |
| Kering SA | &nbsp;&nbsp; 17 | 5221 |
| Klepierre SA | &nbsp;&nbsp; 239 | 6844 |
| La Francaise des Jeux SAEM<sup>(b)</sup> | &nbsp;&nbsp; 179 | 6945 |
| Legrand SA | &nbsp;&nbsp; 57 | 6159 |
| L'Oreal SA | &nbsp;&nbsp; 12 | 5189 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 7 | 4938 |
| Orange SA | &nbsp;&nbsp; 532 | 5904 |
| Pernod Ricard SA | &nbsp;&nbsp; 41 | 5486 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Size Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Publicis Groupe SA | &nbsp;&nbsp; 57 | $5951 |
| Remy Cointreau SA | &nbsp;&nbsp; 69 | 5445 |
| Renault SA | &nbsp;&nbsp; 122 | 5912 |
| Rexel SA | &nbsp;&nbsp; 227 | 5767 |
| Safran SA | &nbsp;&nbsp; 28 | 6151 |
| Sanofi SA | &nbsp;&nbsp; 60 | 6186 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 31 | 6186 |
| Schneider Electric SE | &nbsp;&nbsp; 24 | 5785 |
| SEB SA | &nbsp;&nbsp; 50 | 5003 |
| Societe Generale SA | &nbsp;&nbsp; 216 | 5602 |
| Sodexo SA | &nbsp;&nbsp; 71 | 6724 |
| STMicroelectronics NV | &nbsp;&nbsp; 186 | 6150 |
| Teleperformance SE | &nbsp;&nbsp; 59 | 7595 |
| Thales SA | &nbsp;&nbsp; 36 | 5722 |
| TotalEnergies SE | &nbsp;&nbsp; 80 | 5397 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 80 | 5982 |
| Veolia Environnement SA | &nbsp;&nbsp; 193 | 6063 |
| Vinci SA | &nbsp;&nbsp; 47 | 5364 |
| Vivendi SE | &nbsp;&nbsp; 594 | 6338 |
|  |  | 363698 |
| **Germany — 5.8%** | **Germany — 5.8%** | **Germany — 5.8%** |
| adidas AG | &nbsp;&nbsp; 26 | 6516 |
| Allianz SE, Registered | &nbsp;&nbsp; 22 | 6197 |
| BASF SE | &nbsp;&nbsp; 115 | 5354 |
| Bayer AG, Registered | &nbsp;&nbsp; 209 | 6218 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 53 | 4916 |
| Bechtle AG | &nbsp;&nbsp; 124 | 5480 |
| Beiersdorf AG | &nbsp;&nbsp; 42 | 6096 |
| Brenntag SE | &nbsp;&nbsp; 89 | 6331 |
| Carl Zeiss Meditec AG, Bearer | &nbsp;&nbsp; 67 | 4584 |
| Commerzbank AG | &nbsp;&nbsp; 378 | 6162 |
| Continental AG | &nbsp;&nbsp; 94 | 5763 |
| Covestro AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 124 | 7300 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 76 | 6694 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 151 | 5830 |
| Delivery Hero SE, Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 208 | 4628 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 361 | 5619 |
| Deutsche Boerse AG | &nbsp;&nbsp; 31 | 6348 |
| Deutsche Lufthansa AG, Registered | &nbsp;&nbsp; 905 | 5671 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 142 | 6334 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 203 | 5310 |
| E.ON SE | &nbsp;&nbsp; 453 | 6352 |
| Evonik Industries AG | &nbsp;&nbsp; 303 | 6136 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 151 | 5827 |
| Fresenius SE & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 216 | 7739 |
| GEA Group AG | &nbsp;&nbsp; 180 | 7948 |
| Hannover Rueck SE | &nbsp;&nbsp; 25 | 6207 |
| Heidelberg Materials AG | &nbsp;&nbsp; 62 | 6459 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 35 | 2712 |
| Infineon Technologies AG | &nbsp;&nbsp; 180 | 6253 |
| Knorr-Bremse AG | &nbsp;&nbsp; 86 | 6916 |
| LEG Immobilien SE | &nbsp;&nbsp; 74 | 6455 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 79 | 5222 |
| Merck KGaA | &nbsp;&nbsp; 34 | 6075 |
| MTU Aero Engines AG | &nbsp;&nbsp; 26 | 7362 |
| Muenchener Rueckversicherungs-Gesellschaft AG in <br> Muenchen, Registered<br>| &nbsp;&nbsp; 12 | 5910 |
| Nemetschek SE | &nbsp;&nbsp; 68 | 6495 |
| Puma SE | &nbsp;&nbsp; 126 | 6253 |
| Qiagen NV, NVS | &nbsp;&nbsp; 146 | 6496 |
| Rational AG | &nbsp;&nbsp; 8 | 7003 |
| Rheinmetall AG | &nbsp;&nbsp; 11 | 5991 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| RWE AG | &nbsp;&nbsp; 172 | $6419 |
| SAP SE | &nbsp;&nbsp; 34 | 7188 |
| Scout24 SE<sup>(b)</sup> | &nbsp;&nbsp; 84 | 6641 |
| Siemens AG, Registered | &nbsp;&nbsp; 33 | 6042 |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 259 | 7521 |
| Siemens Healthineers AG<sup>(b)</sup> | &nbsp;&nbsp; 113 | 6057 |
| Symrise AG, Class A | &nbsp;&nbsp; 59 | 7436 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 79 | 6002 |
| Volkswagen AG | &nbsp;&nbsp; 10 | 1180 |
| Vonovia SE | &nbsp;&nbsp; 206 | 6316 |
| Zalando SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 263 | 6739 |
|  |  | 310703 |
| **Hong Kong — 3.0%** | **Hong Kong — 3.0%** | **Hong Kong — 3.0%** |
| AIA Group Ltd. | &nbsp;&nbsp; 800 | 5351 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 2000 | 5819 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 1500 | 5732 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 1000 | 5224 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 1000 | 6670 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 500 | 4291 |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 89 | 5632 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 1000 | 4204 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 500 | 6123 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 1464 | 4112 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 6000 | 7267 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 8676 | 7070 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 100 | 2950 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 2100 | 6782 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 200 | 7046 |
| Link REIT | &nbsp;&nbsp; 1560 | 6582 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 2000 | 6470 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 1000 | 6373 |
| Sands China Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2400 | 4499 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 6000 | 6206 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 3000 | 6695 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 500 | 4329 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 1000 | 8627 |
| Swire Properties Ltd. | &nbsp;&nbsp; 3400 | 5370 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 500 | 6403 |
| WH Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 9500 | 6175 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 2000 | 5484 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 2000 | 4917 |
|  |  | 162403 |
| **Ireland — 0.5%** | **Ireland — 0.5%** | **Ireland — 0.5%** |
| AIB Group PLC | &nbsp;&nbsp; 1220 | 6998 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 593 | 6716 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 74 | 6919 |
| Kingspan Group PLC | &nbsp;&nbsp; 72 | 6736 |
|  |  | 27369 |
| **Israel — 1.8%** | **Israel — 1.8%** | **Israel — 1.8%** |
| Azrieli Group Ltd. | &nbsp;&nbsp; 105 | 6445 |
| Bank Hapoalim BM | &nbsp;&nbsp; 731 | 6708 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 846 | 7290 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 45 | 8255 |
| CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 28 | 7179 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 30 | 5370 |
| Global-e Online Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 231 | 7928 |
| ICL Group Ltd. | &nbsp;&nbsp; 1500 | 6279 |
| Isracard Ltd. | &nbsp;&nbsp; 1 | 2 |
| Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 1374 | 7014 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 188 | 6784 |
| Monday.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 28 | 6435 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Size Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Israel (continued)** | **Israel (continued)** | **Israel (continued)** |
| Nice Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 34 | $6137 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 396 | 6902 |
| Wix.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 36 | 5613 |
|  |  | 94341 |
| **Italy — 2.8%** | **Italy — 2.8%** | **Italy — 2.8%** |
| Amplifon SpA | &nbsp;&nbsp; 197 | 6257 |
| Banco BPM SpA | &nbsp;&nbsp; 924 | 6397 |
| Davide Campari-Milano NV | &nbsp;&nbsp; 639 | 5763 |
| DiaSorin SpA | &nbsp;&nbsp; 63 | 6871 |
| Enel SpA | &nbsp;&nbsp; 909 | 6490 |
| Eni SpA | &nbsp;&nbsp; 394 | 6304 |
| Ferrari NV | &nbsp;&nbsp; 15 | 6174 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 427 | 7249 |
| Generali | &nbsp;&nbsp; 237 | 6134 |
| Infrastrutture Wireless Italiane SpA<sup>(b)</sup> | &nbsp;&nbsp; 651 | 7244 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 1545 | 6274 |
| Leonardo SpA | &nbsp;&nbsp; 250 | 5956 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 428 | 6948 |
| Moncler SpA | &nbsp;&nbsp; 104 | 6201 |
| Nexi SpA<sup>(a)(b)</sup> | &nbsp;&nbsp; 1009 | 6193 |
| Poste Italiane SpA<sup>(b)</sup> | &nbsp;&nbsp; 482 | 6525 |
| Prysmian SpA | &nbsp;&nbsp; 104 | 7149 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 117 | 6370 |
| Snam SpA | &nbsp;&nbsp; 1297 | 6198 |
| Stellantis NV | &nbsp;&nbsp; 267 | 4449 |
| Telecom Italia SpA/Milano<sup>(a)</sup> | &nbsp;&nbsp; 26302 | 6447 |
| Tenaris SA, NVS | &nbsp;&nbsp; 379 | 6014 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 721 | 6004 |
| UniCredit SpA | &nbsp;&nbsp; 151 | 6202 |
|  |  | 151813 |
| **Japan — 26.1%** | **Japan — 26.1%** | **Japan — 26.1%** |
| Advantest Corp. | &nbsp;&nbsp; 200 | 8852 |
| Aeon Co. Ltd. | &nbsp;&nbsp; 300 | 6845 |
| AGC Inc. | &nbsp;&nbsp; 200 | 7158 |
| Aisin Corp. | &nbsp;&nbsp; 200 | 6747 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 200 | 8237 |
| ANA Holdings Inc. | &nbsp;&nbsp; 300 | 5738 |
| Asahi Group Holdings Ltd. | &nbsp;&nbsp; 200 | 7363 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 1000 | 7211 |
| Asics Corp. | &nbsp;&nbsp; 500 | 8160 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 700 | 8119 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 400 | 8500 |
| Bridgestone Corp. | &nbsp;&nbsp; 200 | 8155 |
| Brother Industries Ltd. | &nbsp;&nbsp; 400 | 8207 |
| Canon Inc. | &nbsp;&nbsp; 200 | 6260 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 400 | 8546 |
| Central Japan Railway Co. | &nbsp;&nbsp; 300 | 7073 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 800 | 7494 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 500 | 6304 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 200 | 8729 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 1100 | 6933 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 200 | 6580 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 400 | 7239 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 300 | 9147 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 200 | 8146 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 100 | 12026 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 200 | 5664 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 1000 | 8256 |
| Denso Corp. | &nbsp;&nbsp; 400 | 6560 |
| Dentsu Group Inc. | &nbsp;&nbsp; 300 | 7933 |
| East Japan Railway Co. | &nbsp;&nbsp; 400 | 7621 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Eisai Co. Ltd. | &nbsp;&nbsp; 200 | $7627 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 1350 | 7073 |
| FANUC Corp. | &nbsp;&nbsp; 200 | 5929 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 100 | 5625 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 300 | 7133 |
| Fujitsu Ltd. | &nbsp;&nbsp; 500 | 9080 |
| Hamamatsu Photonics KK | &nbsp;&nbsp; 200 | 5760 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 300 | 8560 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 200 | 4981 |
| Hitachi Ltd. | &nbsp;&nbsp; 500 | 10803 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 500 | 5342 |
| Hoshizaki Corp. | &nbsp;&nbsp; 200 | 6299 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 700 | 6833 |
| Ibiden Co. Ltd. | &nbsp;&nbsp; 200 | 7752 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 1020 | 6718 |
| Inpex Corp. | &nbsp;&nbsp; 400 | 6177 |
| Isuzu Motors Ltd. | &nbsp;&nbsp; 600 | 8116 |
| ITOCHU Corp. | &nbsp;&nbsp; 100 | 5128 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 400 | 6481 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 300 | 7044 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 600 | 6244 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 700 | 7413 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 400 | 8235 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 2 | 6937 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 200 | 5885 |
| JFE Holdings Inc. | &nbsp;&nbsp; 500 | 7324 |
| Kajima Corp. | &nbsp;&nbsp; 400 | 7729 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 400 | 6846 |
| Kao Corp. | &nbsp;&nbsp; 100 | 4379 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 500 | 7683 |
| KDDI Corp. | &nbsp;&nbsp; 300 | 9027 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 200 | 5982 |
| Kikkoman Corp. | &nbsp;&nbsp; 600 | 7508 |
| Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp; 300 | 6948 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 500 | 7069 |
| Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 300 | 8055 |
| Koito Manufacturing Co. Ltd. | &nbsp;&nbsp; 500 | 7393 |
| Komatsu Ltd. | &nbsp;&nbsp; 200 | 5686 |
| Konami Group Corp. | &nbsp;&nbsp; 100 | 7524 |
| Kubota Corp. | &nbsp;&nbsp; 500 | 7188 |
| Kyocera Corp. | &nbsp;&nbsp; 600 | 7557 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 400 | 8437 |
| LY Corp. | &nbsp;&nbsp; 2700 | 6755 |
| M3 Inc. | &nbsp;&nbsp; 700 | 6536 |
| Makita Corp. | &nbsp;&nbsp; 200 | 6592 |
| Marubeni Corp. | &nbsp;&nbsp; 300 | 5646 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 500 | 8154 |
| Mazda Motor Corp. | &nbsp;&nbsp; 700 | 6038 |
| McDonald's Holdings Co. Japan Ltd. | &nbsp;&nbsp; 200 | 8286 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 400 | 10102 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 300 | 7216 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 1300 | 7678 |
| Mitsubishi Corp. | &nbsp;&nbsp; 300 | 6196 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 400 | 6665 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 400 | 6818 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 1100 | 7914 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 700 | 8390 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 600 | 6930 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 200 | 4641 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 200 | 5782 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 600 | 6216 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 200 | 6353 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Size Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 300 | $6858 |
| MonotaRO Co. Ltd. | &nbsp;&nbsp; 700 | 9895 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 300 | 7072 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 400 | 8899 |
| NEC Corp. | &nbsp;&nbsp; 100 | 8655 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 400 | 8616 |
| Nidec Corp. | &nbsp;&nbsp; 100 | 4399 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 100 | 5526 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 2 | 7719 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 100 | 4948 |
| Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp; 1000 | 6383 |
| Nippon Prologis REIT Inc. | &nbsp;&nbsp; 4 | 6609 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 200 | 6536 |
| Nippon Steel Corp. | &nbsp;&nbsp; 300 | 6514 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 6700 | 7140 |
| Nippon Yusen KK | &nbsp;&nbsp; 200 | 6445 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 200 | 6453 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 1900 | 6031 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 300 | 8920 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 100 | 12230 |
| Nitto Denko Corp. | &nbsp;&nbsp; 100 | 8683 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 1200 | 7399 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 300 | 8386 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 8 | 7848 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 260 | 8027 |
| NTT Data Group Corp. | &nbsp;&nbsp; 400 | 6230 |
| Obayashi Corp. | &nbsp;&nbsp; 600 | 7878 |
| Obic Co. Ltd. | &nbsp;&nbsp; 100 | 15248 |
| Olympus Corp. | &nbsp;&nbsp; 400 | 6906 |
| Omron Corp. | &nbsp;&nbsp; 200 | 7419 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 500 | 7376 |
| Oracle Corp./Japan | &nbsp;&nbsp; 100 | 8163 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 200 | 5726 |
| ORIX Corp. | &nbsp;&nbsp; 300 | 7257 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 300 | 6790 |
| Otsuka Corp. | &nbsp;&nbsp; 400 | 8867 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 200 | 10194 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 300 | 7827 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 800 | 6553 |
| Rakuten Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1300 | 7627 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 100 | 5734 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 400 | 6890 |
| Resona Holdings Inc. | &nbsp;&nbsp; 1000 | 7171 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 900 | 8378 |
| Rohm Co. Ltd. | &nbsp;&nbsp; 600 | 8181 |
| SBI Holdings Inc. | &nbsp;&nbsp; 300 | 7798 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 100 | 8474 |
| SCSK Corp. | &nbsp;&nbsp; 400 | 7875 |
| Secom Co. Ltd. | &nbsp;&nbsp; 100 | 6385 |
| Seiko Epson Corp. | &nbsp;&nbsp; 500 | 8655 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 500 | 7544 |
| Sekisui House Ltd. | &nbsp;&nbsp; 300 | 7517 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 500 | 5987 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 700 | 7118 |
| Shimadzu Corp. | &nbsp;&nbsp; 300 | 8848 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 200 | 8886 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 100 | 4399 |
| Shiseido Co. Ltd. | &nbsp;&nbsp; 200 | 6250 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 700 | 6992 |
| SoftBank Corp. | &nbsp;&nbsp; 500 | 6522 |
| SoftBank Group Corp. | &nbsp;&nbsp; 100 | 6111 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 300 | 6841 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Sony Group Corp. | &nbsp;&nbsp; 100 | $8882 |
| Subaru Corp. | &nbsp;&nbsp; 300 | 5768 |
| SUMCO Corp. | &nbsp;&nbsp; 600 | 9864 |
| Sumitomo Corp. | &nbsp;&nbsp; 200 | 4970 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 400 | 6051 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 200 | 6099 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 100 | 7221 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 300 | 7583 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 200 | 6611 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 200 | 7183 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 600 | 6895 |
| Sysmex Corp. | &nbsp;&nbsp; 400 | 6549 |
| T&D Holdings Inc. | &nbsp;&nbsp; 400 | 7498 |
| Taisei Corp. | &nbsp;&nbsp; 200 | 8494 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 151 | 4239 |
| TDK Corp. | &nbsp;&nbsp; 100 | 6976 |
| Terumo Corp. | &nbsp;&nbsp; 400 | 7171 |
| TIS Inc. | &nbsp;&nbsp; 300 | 6426 |
| Toho Co. Ltd./Tokyo | &nbsp;&nbsp; 200 | 7182 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 200 | 7847 |
| Tokyo Electric Power Co. Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1100 | 5510 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 300 | 6573 |
| Tokyu Corp. | &nbsp;&nbsp; 600 | 7269 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 300 | 8486 |
| Toray Industries Inc. | &nbsp;&nbsp; 1500 | 7799 |
| TOTO Ltd. | &nbsp;&nbsp; 300 | 8261 |
| Toyota Industries Corp. | &nbsp;&nbsp; 100 | 8407 |
| Toyota Motor Corp. | &nbsp;&nbsp; 300 | 5763 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 300 | 5998 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 100 | 4793 |
| Unicharm Corp. | &nbsp;&nbsp; 200 | 6700 |
| West Japan Railway Co. | &nbsp;&nbsp; 300 | 5906 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 400 | 8202 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 700 | 6518 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 600 | 7287 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 200 | 6961 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 300 | 7594 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 200 | 8141 |
| ZOZO Inc. | &nbsp;&nbsp; 300 | 8783 |
|  |  | 1403489 |
| **Netherlands — 3.1%** | **Netherlands — 3.1%** | **Netherlands — 3.1%** |
| ABN AMRO Bank NV, CVA<sup>(b)</sup> | &nbsp;&nbsp; 371 | 6476 |
| Adyen NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 5 | 6116 |
| Aegon Ltd. | &nbsp;&nbsp; 975 | 6309 |
| AerCap Holdings NV | &nbsp;&nbsp; 73 | 6858 |
| Akzo Nobel NV | &nbsp;&nbsp; 96 | 5936 |
| ASM International NV | &nbsp;&nbsp; 10 | 6880 |
| ASML Holding NV | &nbsp;&nbsp; 8 | 7449 |
| ASR Nederland NV | &nbsp;&nbsp; 124 | 6230 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 48 | 6184 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 89 | 6566 |
| DSM-Firmenich AG | &nbsp;&nbsp; 56 | 7149 |
| EXOR NV, NVS | &nbsp;&nbsp; 56 | 5741 |
| Heineken Holding NV | &nbsp;&nbsp; 62 | 4569 |
| Heineken NV | &nbsp;&nbsp; 61 | 5413 |
| IMCD NV | &nbsp;&nbsp; 44 | 6327 |
| ING Groep NV | &nbsp;&nbsp; 350 | 6353 |
| InPost SA<sup>(a)</sup> | &nbsp;&nbsp; 360 | 6237 |
| JDE Peet's NV | &nbsp;&nbsp; 268 | 5894 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 194 | 6250 |
| Koninklijke KPN NV | &nbsp;&nbsp; 1472 | 5800 |
| Koninklijke Philips NV<sup>(a)</sup> | &nbsp;&nbsp; 233 | 6545 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Size Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| NN Group NV | &nbsp;&nbsp; 131 | $6574 |
| OCI NV | &nbsp;&nbsp; 237 | 5712 |
| Prosus NV | &nbsp;&nbsp; 162 | 5651 |
| Randstad NV | &nbsp;&nbsp; 120 | 5845 |
| Universal Music Group NV | &nbsp;&nbsp; 209 | 4979 |
| Wolters Kluwer NV | &nbsp;&nbsp; 42 | 7031 |
|  |  | 167074 |
| **New Zealand — 0.7%** | **New Zealand — 0.7%** | **New Zealand — 0.7%** |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 1470 | 6544 |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 403 | 7780 |
| Mercury NZ Ltd. | &nbsp;&nbsp; 1753 | 7178 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 1768 | 6839 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 2560 | 6579 |
|  |  | 34920 |
| **Norway — 1.3%** | **Norway — 1.3%** | **Norway — 1.3%** |
| Aker BP ASA | &nbsp;&nbsp; 264 | 6393 |
| DNB Bank ASA | &nbsp;&nbsp; 339 | 7004 |
| Equinor ASA | &nbsp;&nbsp; 225 | 5958 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 396 | 6699 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 82 | 8246 |
| Mowi ASA | &nbsp;&nbsp; 371 | 6262 |
| Norsk Hydro ASA | &nbsp;&nbsp; 942 | 5225 |
| Orkla ASA | &nbsp;&nbsp; 809 | 6828 |
| Salmar ASA | &nbsp;&nbsp; 111 | 6386 |
| Telenor ASA | &nbsp;&nbsp; 549 | 6541 |
| Yara International ASA | &nbsp;&nbsp; 223 | 6352 |
|  |  | 71894 |
| **Portugal — 0.5%** | **Portugal — 0.5%** | **Portugal — 0.5%** |
| EDP Renovaveis SA | &nbsp;&nbsp; 437 | 6793 |
| EDP SA | &nbsp;&nbsp; 1555 | 6409 |
| Galp Energia SGPS SA | &nbsp;&nbsp; 301 | 6329 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 286 | 4999 |
|  |  | 24530 |
| **Singapore — 2.0%** | **Singapore — 2.0%** | **Singapore — 2.0%** |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 3507 | 7160 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 4949 | 7730 |
| CapitaLand Investment Ltd./Singapore | &nbsp;&nbsp; 3300 | 6691 |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 220 | 6029 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 9100 | 5783 |
| Grab Holdings Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1818 | 5999 |
| Keppel Ltd. | &nbsp;&nbsp; 1400 | 6968 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 600 | 6678 |
| Sea Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 88 | 5782 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 1800 | 6436 |
| Singapore Airlines Ltd. | &nbsp;&nbsp; 1400 | 7316 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 800 | 5898 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 2300 | 7615 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 3800 | 8803 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 300 | 7275 |
| Wilmar International Ltd. | &nbsp;&nbsp; 2900 | 6915 |
|  |  | 109078 |
| **Spain — 2.0%** | **Spain — 2.0%** | **Spain — 2.0%** |
| Acciona SA | &nbsp;&nbsp; 45 | 5834 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 158 | 7059 |
| Aena SME SA<sup>(b)</sup> | &nbsp;&nbsp; 34 | 6460 |
| Amadeus IT Group SA | &nbsp;&nbsp; 90 | 5928 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 568 | 5953 |
| Banco de Sabadell SA | &nbsp;&nbsp; 3236 | 6829 |
| Banco Santander SA | &nbsp;&nbsp; 1095 | 5282 |
| CaixaBank SA | &nbsp;&nbsp; 1136 | 6625 |
| Cellnex Telecom SA<sup>(b)</sup> | &nbsp;&nbsp; 179 | 6243 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Endesa SA | &nbsp;&nbsp; 348 | $6753 |
| Ferrovial SE | &nbsp;&nbsp; 161 | 6402 |
| Grifols SA<sup>(a)</sup> | &nbsp;&nbsp; 642 | 6485 |
| Iberdrola SA | &nbsp;&nbsp; 542 | 7159 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 145 | 7045 |
| Redeia Corp. SA | &nbsp;&nbsp; 315 | 5593 |
| Repsol SA | &nbsp;&nbsp; 376 | 5363 |
| Telefonica SA | &nbsp;&nbsp; 1334 | 6042 |
|  |  | 107055 |
| **Sweden — 4.7%** | **Sweden — 4.7%** | **Sweden — 4.7%** |
| Alfa Laval AB | &nbsp;&nbsp; 145 | 6411 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 227 | 6913 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 217 | 3862 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 127 | 1987 |
| Beijer Ref AB, Class B | &nbsp;&nbsp; 438 | 6955 |
| Boliden AB | &nbsp;&nbsp; 176 | 5383 |
| Epiroc AB | &nbsp;&nbsp; 195 | 3640 |
| Epiroc AB, Class B | &nbsp;&nbsp; 131 | 2203 |
| EQT AB | &nbsp;&nbsp; 202 | 6541 |
| Essity AB, Class B | &nbsp;&nbsp; 251 | 7057 |
| Evolution AB<sup>(b)</sup> | &nbsp;&nbsp; 59 | 5715 |
| Fastighets AB Balder, Class B<sup>(a)</sup> | &nbsp;&nbsp; 998 | 7360 |
| Getinge AB, Class B | &nbsp;&nbsp; 398 | 7772 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 369 | 5741 |
| Hexagon AB, Class B | &nbsp;&nbsp; 609 | 6202 |
| Holmen AB, Class B | &nbsp;&nbsp; 155 | 6093 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 767 | 5180 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 86 | 2950 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 99 | 3356 |
| Indutrade AB | &nbsp;&nbsp; 260 | 7645 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 235 | 6901 |
| Investor AB, Class B | &nbsp;&nbsp; 231 | 6558 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 122 | 6168 |
| Lifco AB, Class B | &nbsp;&nbsp; 247 | 7328 |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 1382 | 6073 |
| Saab AB | &nbsp;&nbsp; 290 | 6696 |
| Sagax AB, Class B | &nbsp;&nbsp; 240 | 5929 |
| Sandvik AB | &nbsp;&nbsp; 300 | 6142 |
| Securitas AB, Class B | &nbsp;&nbsp; 637 | 6853 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 415 | 6382 |
| Skanska AB, Class B | &nbsp;&nbsp; 372 | 7273 |
| SKF AB, Class B | &nbsp;&nbsp; 302 | 5614 |
| Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 406 | 5519 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 687 | 6934 |
| Swedbank AB, Class A | &nbsp;&nbsp; 309 | 6571 |
| Swedish Orphan Biovitrum AB<sup>(a)</sup> | &nbsp;&nbsp; 253 | 6610 |
| Tele2 AB, Class B | &nbsp;&nbsp; 716 | 7372 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 1197 | 8230 |
| Telia Co. AB | &nbsp;&nbsp; 2669 | 7757 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 173 | 6429 |
| Volvo AB, Class A | &nbsp;&nbsp; 21 | 546 |
| Volvo AB, Class B | &nbsp;&nbsp; 220 | 5615 |
| Volvo Car AB<sup>(a)</sup> | &nbsp;&nbsp; 2276 | 6458 |
|  |  | 254924 |
| **Switzerland — 5.0%** | **Switzerland — 5.0%** | **Switzerland — 5.0%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 127 | 7049 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 176 | 5991 |
| Alcon Inc. | &nbsp;&nbsp; 77 | 7291 |
| Avolta AG, Registered | &nbsp;&nbsp; 170 | 6414 |
| Bachem Holding AG | &nbsp;&nbsp; 70 | 6282 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 42 | 7516 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Size Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 59 | $6263 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 4 | 6436 |
| BKW AG | &nbsp;&nbsp; 37 | 6693 |
| Cie. Financiere Richemont SA, Class A, Registered | &nbsp;&nbsp; 43 | 6559 |
| Clariant AG, Registered | &nbsp;&nbsp; 411 | 6097 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 8 | 6690 |
| Geberit AG, Registered | &nbsp;&nbsp; 12 | 7640 |
| Givaudan SA, Registered | &nbsp;&nbsp; 1 | 4906 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 48 | 7161 |
| Holcim AG | &nbsp;&nbsp; 78 | 7289 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 115 | 6294 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 24 | 7440 |
| Logitech International SA, Registered | &nbsp;&nbsp; 74 | 6666 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 11 | 7325 |
| Nestle SA, Registered | &nbsp;&nbsp; 60 | 6077 |
| Novartis AG, Registered | &nbsp;&nbsp; 57 | 6363 |
| Partners Group Holding AG | &nbsp;&nbsp; 5 | 6730 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 1 | 352 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 21 | 6799 |
| Sandoz Group AG | &nbsp;&nbsp; 186 | 8067 |
| Schindler Holding AG, Participation Certificates, NVS | &nbsp;&nbsp; 15 | 4015 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 11 | 2888 |
| SGS SA | &nbsp;&nbsp; 66 | 7216 |
| SIG Group AG | &nbsp;&nbsp; 329 | 6909 |
| Sika AG, Registered | &nbsp;&nbsp; 20 | 6072 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 22 | 6744 |
| Straumann Holding AG | &nbsp;&nbsp; 51 | 6576 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 16 | 3295 |
| Swatch Group AG (The), Registered | &nbsp;&nbsp; 79 | 3203 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 10 | 7657 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 63 | 6314 |
| Swiss Re AG | &nbsp;&nbsp; 49 | 6041 |
| Swisscom AG, Registered | &nbsp;&nbsp; 13 | 7956 |
| Temenos AG, Registered | &nbsp;&nbsp; 109 | 7569 |
| UBS Group AG, Registered | &nbsp;&nbsp; 200 | 6060 |
| VAT Group AG<sup>(b)</sup> | &nbsp;&nbsp; 13 | 6515 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 12 | 6597 |
|  |  | 270017 |
| **United Kingdom — 9.6%** | **United Kingdom — 9.6%** | **United Kingdom — 9.6%** |
| 3i Group PLC | &nbsp;&nbsp; 176 | 7081 |
| Admiral Group PLC | &nbsp;&nbsp; 189 | 6698 |
| Anglo American PLC | &nbsp;&nbsp; 187 | 5669 |
| Antofagasta PLC | &nbsp;&nbsp; 221 | 5755 |
| Ashtead Group PLC | &nbsp;&nbsp; 92 | 6639 |
| Associated British Foods PLC | &nbsp;&nbsp; 196 | 6257 |
| AstraZeneca PLC | &nbsp;&nbsp; 39 | 6196 |
| Auto Trader Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 722 | 7563 |
| Aviva PLC | &nbsp;&nbsp; 1052 | 6777 |
| BAE Systems PLC | &nbsp;&nbsp; 368 | 6138 |
| Barclays PLC | &nbsp;&nbsp; 2279 | 6815 |
| Barratt Developments PLC | &nbsp;&nbsp; 1000 | 6767 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 96 | 6267 |
| BP PLC | &nbsp;&nbsp; 923 | 5456 |
| British American Tobacco PLC | &nbsp;&nbsp; 180 | 6387 |
| BT Group PLC | &nbsp;&nbsp; 3932 | 7131 |
| Bunzl PLC | &nbsp;&nbsp; 173 | 7249 |
| Burberry Group PLC | &nbsp;&nbsp; 511 | 5114 |
| Centrica PLC | &nbsp;&nbsp; 3615 | 6163 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 185 | 6751 |
| Compass Group PLC | &nbsp;&nbsp; 204 | 6282 |
| Croda International PLC | &nbsp;&nbsp; 115 | 5979 |
| DCC PLC | &nbsp;&nbsp; 87 | 5994 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Diageo PLC | &nbsp;&nbsp; 156 | $4854 |
| Endeavour Mining PLC | &nbsp;&nbsp; 286 | 6388 |
| Entain PLC | &nbsp;&nbsp; 727 | 5342 |
| Experian PLC | &nbsp;&nbsp; 135 | 6369 |
| Flutter Entertainment PLC<sup>(a)</sup> | &nbsp;&nbsp; 31 | 6132 |
| Glencore PLC | &nbsp;&nbsp; 911 | 5055 |
| GSK PLC | &nbsp;&nbsp; 271 | 5262 |
| Haleon PLC | &nbsp;&nbsp; 1335 | 5988 |
| Halma PLC | &nbsp;&nbsp; 248 | 8489 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 609 | 8651 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 275 | 6724 |
| HSBC Holdings PLC | &nbsp;&nbsp; 689 | 6266 |
| Imperial Brands PLC | &nbsp;&nbsp; 263 | 7249 |
| Informa PLC | &nbsp;&nbsp; 644 | 7197 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 68 | 6851 |
| Intertek Group PLC | &nbsp;&nbsp; 113 | 7338 |
| J Sainsbury PLC | &nbsp;&nbsp; 1826 | 6475 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 4456 | 7539 |
| Kingfisher PLC | &nbsp;&nbsp; 2038 | 7245 |
| Land Securities Group PLC | &nbsp;&nbsp; 793 | 6485 |
| Legal & General Group PLC | &nbsp;&nbsp; 2004 | 5977 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 8890 | 6791 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 47 | 5721 |
| M&G PLC | &nbsp;&nbsp; 2570 | 7018 |
| Melrose Industries PLC | &nbsp;&nbsp; 887 | 6717 |
| Mondi PLC, NVS | &nbsp;&nbsp; 312 | 6100 |
| National Grid PLC | &nbsp;&nbsp; 431 | 5469 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 1584 | 7515 |
| Next PLC | &nbsp;&nbsp; 58 | 6779 |
| Pearson PLC | &nbsp;&nbsp; 535 | 7259 |
| Persimmon PLC | &nbsp;&nbsp; 379 | 7729 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 1000 | 7043 |
| Prudential PLC | &nbsp;&nbsp; 638 | 5758 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 112 | 6025 |
| RELX PLC | &nbsp;&nbsp; 147 | 6938 |
| Rentokil Initial PLC | &nbsp;&nbsp; 1254 | 7657 |
| Rio Tinto PLC | &nbsp;&nbsp; 79 | 5138 |
| Rolls-Royce Holdings PLC<sup>(a)</sup> | &nbsp;&nbsp; 1150 | 6659 |
| Sage Group PLC (The) | &nbsp;&nbsp; 477 | 6668 |
| Schroders PLC | &nbsp;&nbsp; 1400 | 7075 |
| Segro PLC | &nbsp;&nbsp; 560 | 6591 |
| Severn Trent PLC | &nbsp;&nbsp; 204 | 6744 |
| Shell PLC | &nbsp;&nbsp; 159 | 5798 |
| Smith & Nephew PLC | &nbsp;&nbsp; 550 | 7927 |
| Smiths Group PLC | &nbsp;&nbsp; 319 | 7327 |
| Spirax Group PLC | &nbsp;&nbsp; 60 | 7005 |
| SSE PLC | &nbsp;&nbsp; 295 | 7139 |
| Standard Chartered PLC | &nbsp;&nbsp; 641 | 6332 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 3621 | 7424 |
| Tesco PLC | &nbsp;&nbsp; 1702 | 7258 |
| Unilever PLC | &nbsp;&nbsp; 114 | 7006 |
| United Utilities Group PLC | &nbsp;&nbsp; 441 | 5861 |
| Vodafone Group PLC | &nbsp;&nbsp; 6700 | 6269 |
| Whitbread PLC | &nbsp;&nbsp; 167 | 6257 |
| Wise PLC, Class A<sup>(a)</sup> | &nbsp;&nbsp; 660 | 6077 |
| WPP PLC | &nbsp;&nbsp; 621 | 5990 |
|  |  | 518068 |
| **Total Common Stocks — 98.9%** <br>**(Cost: $5,566,452)** | **Total Common Stocks — 98.9%** <br>**(Cost: $5,566,452)** | 5320126 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Size Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.5%** | **Germany — 0.5%** | **Germany — 0.5%** |
| Bayerische Motoren Werke AG, Preference Shares, NVS | &nbsp;&nbsp; 4 | $343 |
| Dr Ing hc F Porsche AG, Preference Shares, NVS<sup>(b)</sup> | &nbsp;&nbsp; 71 | 5346 |
| Henkel AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 44 | 3764 |
| Porsche Automobil Holding SE, Preference Shares, NVS | &nbsp;&nbsp; 119 | 5319 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 22 | 6240 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 34 | 3794 |
|  |  | 24806 |
| **Total Preferred Stocks — 0.5%** <br>**(Cost: $40,549)** | **Total Preferred Stocks — 0.5%** <br>**(Cost: $40,549)** | 24806 |
| **Warrants** | **Warrants** | **Warrants** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| Constellation Software Inc., (Issued 08/29/23, 1 Share for <br> 1 Warrant, Expires 03/31/40, Strike Price CAD 11.50)<sup>(c)</sup><br>| &nbsp;&nbsp; 9 |  |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** |  |
| **Total Investments — 99.4%** <br>**(Cost: $5,607,001)** | **Total Investments — 99.4%** <br>**(Cost: $5,607,001)** | 5344932 |
| **Other Assets Less Liabilities — 0.6%** | **Other Assets Less Liabilities — 0.6%** | 31312 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $5376244 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> 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. 

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<sup>(a)</sup><br>| $102095 | $— | &nbsp;&nbsp; $(102096 )<sup>(b)</sup><br>| &nbsp;&nbsp; $17 | $(16)<br>| $— |  | $243 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares<sup>(a)</sup> |  | 0 <br><sup>(b)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  |  |  | 215 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $17 | $(16)<br>| $— |  | $458 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> As of period end, the entity is no longer held.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| STOXX Europe 600 Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $28 | &nbsp;&nbsp; $199 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Size Factor ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $199 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $199 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5726 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5726 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2126)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2126)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $40655 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $707507 | &nbsp;&nbsp; $4612619 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5320126 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 24806 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24806 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $707507 | &nbsp;&nbsp; $4637425 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $5344932 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $199 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $199 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® MSCI Intl Value Factor ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 2.0%** | **Australia — 2.0%** | **Australia — 2.0%** |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 368540 | $898601 |
| BHP Group Ltd. | &nbsp;&nbsp; 579046 | 16082970 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 117452 | 1705538 |
| Dexus | &nbsp;&nbsp; 267902 | 1235177 |
| Fortescue Ltd. | &nbsp;&nbsp; 233525 | 2905711 |
| Qantas Airways Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 263891 | 1117965 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 46610 | 3581610 |
| Santos Ltd. | &nbsp;&nbsp; 305490 | 1592491 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 84712 | 1535250 |
| South32 Ltd. | &nbsp;&nbsp; 885057 | 1775154 |
| Vicinity Ltd. | &nbsp;&nbsp; 952483 | 1320712 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 151182 | 2741656 |
|  |  | 36492835 |
| **Austria — 0.4%** | **Austria — 0.4%** | **Austria — 0.4%** |
| Erste Group Bank AG | &nbsp;&nbsp; 82982 | 4316413 |
| OMV AG | &nbsp;&nbsp; 34808 | 1456370 |
| voestalpine AG | &nbsp;&nbsp; 41782 | 1071577 |
|  |  | 6844360 |
| **Belgium — 1.0%** | **Belgium — 1.0%** | **Belgium — 1.0%** |
| Ageas SA/NV | &nbsp;&nbsp; 37238 | 1777788 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 172223 | 10225596 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 8863 | 661438 |
| Syensqo SA | &nbsp;&nbsp; 14655 | 1295909 |
| UCB SA | &nbsp;&nbsp; 20782 | 3472554 |
|  |  | 17433285 |
| **Canada — 3.0%** | **Canada — 3.0%** | **Canada — 3.0%** |
| Air Canada<sup>(a)</sup> | &nbsp;&nbsp; 54167 | 624197 |
| AltaGas Ltd. | &nbsp;&nbsp; 53409 | 1273476 |
| Canadian Tire Corp. Ltd., Class A, NVS | &nbsp;&nbsp; 8608 | 883962 |
| CGI Inc.<sup>(a)</sup> | &nbsp;&nbsp; 42863 | 4887496 |
| Empire Co. Ltd., NVS | &nbsp;&nbsp; 42818 | 1131972 |
| Fairfax Financial Holdings Ltd. | &nbsp;&nbsp; 3727 | 4395331 |
| First Quantum Minerals Ltd. | &nbsp;&nbsp; 74422 | 910971 |
| George Weston Ltd. | &nbsp;&nbsp; 9404 | 1456389 |
| iA Financial Corp. Inc. | &nbsp;&nbsp; 14249 | 963522 |
| Kinross Gold Corp. | &nbsp;&nbsp; 163623 | 1487320 |
| Lundin Mining Corp. | &nbsp;&nbsp; 95271 | 961922 |
| Magna International Inc. | &nbsp;&nbsp; 55788 | 2475740 |
| Manulife Financial Corp. | &nbsp;&nbsp; 341962 | 9109740 |
| Metro Inc./CN | &nbsp;&nbsp; 35001 | 2084368 |
| Nutrien Ltd. | &nbsp;&nbsp; 94428 | 4842970 |
| Onex Corp. | &nbsp;&nbsp; 14223 | 974641 |
| Open Text Corp. | &nbsp;&nbsp; 145200 | 4576905 |
| Power Corp. of Canada | &nbsp;&nbsp; 89579 | 2592675 |
| Quebecor Inc., Class B | &nbsp;&nbsp; 13364 | 295225 |
| Rogers Communications Inc., Class B, NVS | &nbsp;&nbsp; 30818 | 1191738 |
| Saputo Inc. | &nbsp;&nbsp; 51561 | 1184971 |
| Teck Resources Ltd., Class B | &nbsp;&nbsp; 84177 | 4126389 |
| West Fraser Timber Co. Ltd. | &nbsp;&nbsp; 13976 | 1239330 |
|  |  | 53671250 |
| **Denmark — 0.6%** | **Denmark — 0.6%** | **Denmark — 0.6%** |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 1414 | 2296951 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 2259 | 3737150 |
| Danske Bank A/S | &nbsp;&nbsp; 137751 | 4212768 |
|  |  | 10246869 |
| **Finland — 0.9%** | **Finland — 0.9%** | **Finland — 0.9%** |
| Fortum OYJ | &nbsp;&nbsp; 41122 | 632332 |
| Nokia OYJ | &nbsp;&nbsp; 3534506 | 13890257 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Finland (continued)** | **Finland (continued)** | **Finland (continued)** |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 84634 | $1058020 |
|  |  | 15580609 |
| **France — 11.2%** | **France — 11.2%** | **France — 11.2%** |
| Alstom SA<sup>(a)</sup> | &nbsp;&nbsp; 130185 | 2550663 |
| ArcelorMittal SA | &nbsp;&nbsp; 251385 | 5724208 |
| Arkema SA | &nbsp;&nbsp; 12994 | 1172616 |
| AXA SA | &nbsp;&nbsp; 222054 | 7796272 |
| BNP Paribas SA | &nbsp;&nbsp; 289005 | 19800807 |
| Bollore SE | &nbsp;&nbsp; 134643 | 838131 |
| Bouygues SA | &nbsp;&nbsp; 66159 | 2284205 |
| Capgemini SE | &nbsp;&nbsp; 40798 | 8099360 |
| Carrefour SA | &nbsp;&nbsp; 280582 | 4185506 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 140078 | 12016694 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 121222 | 4799038 |
| Covivio SA/France | &nbsp;&nbsp; 4281 | 220374 |
| Credit Agricole SA | &nbsp;&nbsp; 301654 | 4577739 |
| Danone SA | &nbsp;&nbsp; 101490 | 6593303 |
| Dassault Aviation SA | &nbsp;&nbsp; 6656 | 1340079 |
| Eiffage SA | &nbsp;&nbsp; 22948 | 2283824 |
| Engie SA | &nbsp;&nbsp; 513447 | 8071470 |
| Eurazeo SE | &nbsp;&nbsp; 9783 | 769680 |
| Ipsen SA | &nbsp;&nbsp; 9211 | 1034212 |
| Klepierre SA | &nbsp;&nbsp; 21359 | 611606 |
| Orange SA | &nbsp;&nbsp; 485317 | 5385691 |
| Publicis Groupe SA | &nbsp;&nbsp; 31926 | 3332961 |
| Renault SA | &nbsp;&nbsp; 105931 | 5133643 |
| Rexel SA | &nbsp;&nbsp; 34517 | 876970 |
| Sanofi SA | &nbsp;&nbsp; 347947 | 35870717 |
| Societe Generale SA | &nbsp;&nbsp; 352815 | 9150949 |
| STMicroelectronics NV | &nbsp;&nbsp; 276183 | 9131393 |
| Teleperformance SE | &nbsp;&nbsp; 18022 | 2320068 |
| TotalEnergies SE | &nbsp;&nbsp; 307234 | 20727938 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 17657 | 1320412 |
| Vinci SA | &nbsp;&nbsp; 95151 | 10858435 |
| Vivendi SE | &nbsp;&nbsp; 236705 | 2525821 |
|  |  | 201404785 |
| **Germany — 9.3%** | **Germany — 9.3%** | **Germany — 9.3%** |
| BASF SE | &nbsp;&nbsp; 159600 | 7430519 |
| Bayer AG, Registered | &nbsp;&nbsp; 521139 | 15504244 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 104292 | 9672991 |
| Commerzbank AG | &nbsp;&nbsp; 365741 | 5962483 |
| Continental AG | &nbsp;&nbsp; 29161 | 1787680 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 157819 | 6093225 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 841134 | 13092650 |
| Deutsche Lufthansa AG, Registered | &nbsp;&nbsp; 313205 | 1962788 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 103039 | 4596109 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 522158 | 13658339 |
| E.ON SE | &nbsp;&nbsp; 313343 | 4394046 |
| Evonik Industries AG | &nbsp;&nbsp; 45771 | 926940 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 84238 | 3250563 |
| Fresenius SE & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 222199 | 7961558 |
| Heidelberg Materials AG | &nbsp;&nbsp; 42404 | 4417614 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 26458 | 2050042 |
| Infineon Technologies AG | &nbsp;&nbsp; 312016 | 10838855 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 257263 | 17006222 |
| Merck KGaA | &nbsp;&nbsp; 21849 | 3903811 |
| RWE AG | &nbsp;&nbsp; 165357 | 6171272 |
| Siemens AG, Registered | &nbsp;&nbsp; 109020 | 19961233 |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 147855 | 4293493 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 7956 | 604429 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Value Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Volkswagen AG | &nbsp;&nbsp; 15316 | $1807120 |
|  |  | 167348226 |
| **Hong Kong — 1.6%** | **Hong Kong — 1.6%** | **Hong Kong — 1.6%** |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 869500 | 2529655 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 1764000 | 9215326 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 168000 | 1120518 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 252600 | 815800 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 99600 | 3508802 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 285000 | 922002 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 248000 | 1580621 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 964000 | 997121 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 468000 | 1044472 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 413000 | 3575970 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 84500 | 728962 |
| WH Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 4832500 | 3141336 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 158000 | 388430 |
|  |  | 29569015 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| AIB Group PLC | &nbsp;&nbsp; 353090 | 2025354 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 245810 | 2783783 |
|  |  | 4809137 |
| **Israel — 1.3%** | **Israel — 1.3%** | **Israel — 1.3%** |
| Bank Hapoalim BM | &nbsp;&nbsp; 296240 | 2718397 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 398839 | 3436991 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 17958 | 3294395 |
| ICL Group Ltd. | &nbsp;&nbsp; 157719 | 660224 |
| Isracard Ltd. | &nbsp;&nbsp; 1 | 3 |
| Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 320768 | 1637525 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 21134 | 762647 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 619250 | 10793528 |
|  |  | 23303710 |
| **Italy — 4.2%** | **Italy — 4.2%** | **Italy — 4.2%** |
| Banco BPM SpA | &nbsp;&nbsp; 289138 | 2001896 |
| Enel SpA | &nbsp;&nbsp; 1594728 | 11385041 |
| Eni SpA | &nbsp;&nbsp; 467637 | 7482094 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 3049492 | 12383475 |
| Leonardo SpA | &nbsp;&nbsp; 41551 | 989968 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 95785 | 1554901 |
| Nexi SpA<sup>(a)(b)</sup> | &nbsp;&nbsp; 140093 | 859846 |
| Stellantis NV | &nbsp;&nbsp; 1147143 | 19116058 |
| Telecom Italia SpA/Milano<sup>(a)(c)</sup> | &nbsp;&nbsp; 2962591 | 726168 |
| Tenaris SA, NVS | &nbsp;&nbsp; 70442 | 1117691 |
| UniCredit SpA | &nbsp;&nbsp; 429249 | 17631274 |
|  |  | 75248412 |
| **Japan — 31.3%** | **Japan — 31.3%** | **Japan — 31.3%** |
| AGC Inc. | &nbsp;&nbsp; 63400 | 2269070 |
| Aisin Corp. | &nbsp;&nbsp; 37100 | 1251605 |
| ANA Holdings Inc. | &nbsp;&nbsp; 34300 | 656081 |
| Asahi Group Holdings Ltd. | &nbsp;&nbsp; 144000 | 5301098 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 260100 | 1875650 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 341300 | 3958380 |
| Bridgestone Corp. | &nbsp;&nbsp; 89900 | 3665551 |
| Brother Industries Ltd. | &nbsp;&nbsp; 129100 | 2648661 |
| Canon Inc. | &nbsp;&nbsp; 500100 | 15653978 |
| Central Japan Railway Co. | &nbsp;&nbsp; 250700 | 5910739 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 77300 | 724106 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 302600 | 3815338 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 173800 | 1095376 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 61700 | 2029820 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 38000 | 4569883 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 201800 | 5714650 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Denso Corp. | &nbsp;&nbsp; 240300 | $3940681 |
| Dentsu Group Inc. | &nbsp;&nbsp; 31800 | 840894 |
| East Japan Railway Co. | &nbsp;&nbsp; 95800 | 1825316 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 514800 | 2697315 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 21000 | 1181185 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 487300 | 11586009 |
| Fujitsu Ltd. | &nbsp;&nbsp; 513600 | 9327057 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 51400 | 1466644 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 1900 | 355783 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 31700 | 789556 |
| Hitachi Ltd. | &nbsp;&nbsp; 753000 | 16269817 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 1362300 | 14555593 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 233200 | 2276289 |
| Ibiden Co. Ltd. | &nbsp;&nbsp; 36100 | 1399314 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 165400 | 1089377 |
| Inpex Corp. | &nbsp;&nbsp; 207500 | 3204108 |
| Isuzu Motors Ltd. | &nbsp;&nbsp; 134100 | 1813988 |
| ITOCHU Corp. | &nbsp;&nbsp; 298400 | 15302974 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 19100 | 309475 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 245600 | 2555755 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 487200 | 5159671 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 34200 | 704094 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 255 | 884469 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 286800 | 8439141 |
| JFE Holdings Inc. | &nbsp;&nbsp; 258100 | 3780741 |
| Kajima Corp. | &nbsp;&nbsp; 123400 | 2384522 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 269300 | 4609283 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 168000 | 2581345 |
| KDDI Corp. | &nbsp;&nbsp; 219800 | 6613783 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 174400 | 2465592 |
| Koito Manufacturing Co. Ltd. | &nbsp;&nbsp; 30600 | 452461 |
| Komatsu Ltd. | &nbsp;&nbsp; 232700 | 6615097 |
| Kubota Corp. | &nbsp;&nbsp; 217500 | 3126978 |
| Kyocera Corp. | &nbsp;&nbsp; 636600 | 8017952 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 25800 | 544189 |
| LY Corp. | &nbsp;&nbsp; 352600 | 882175 |
| Marubeni Corp. | &nbsp;&nbsp; 507100 | 9543501 |
| Mazda Motor Corp. | &nbsp;&nbsp; 204200 | 1761310 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 56200 | 1419295 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 65500 | 1575558 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 355100 | 2097307 |
| Mitsubishi Corp. | &nbsp;&nbsp; 1019600 | 21056834 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 370000 | 6164853 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 337800 | 5757439 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 124900 | 898583 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 592500 | 7101750 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 1627700 | 18800505 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 776800 | 18024778 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 42400 | 1225869 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 250400 | 2594109 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 163300 | 5186923 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 468770 | 10716150 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 413900 | 9208436 |
| NEC Corp. | &nbsp;&nbsp; 97600 | 8447732 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 386 | 1489671 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 26400 | 1306295 |
| Nippon Steel Corp. | &nbsp;&nbsp; 334500 | 7262796 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 5247000 | 5591797 |
| Nippon Yusen KK | &nbsp;&nbsp; 235300 | 7582279 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 1040200 | 3301724 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 545200 | 3361489 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 499 | 489544 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Value Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| NTT Data Group Corp. | &nbsp;&nbsp; 165000 | $2569779 |
| Obayashi Corp. | &nbsp;&nbsp; 202900 | 2663940 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 129000 | 1903050 |
| ORIX Corp. | &nbsp;&nbsp; 186300 | 4506530 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 101700 | 2301892 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 116000 | 5912323 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 553100 | 4530541 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 652500 | 11238577 |
| Resona Holdings Inc. | &nbsp;&nbsp; 300100 | 2151998 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 359600 | 3347626 |
| Rohm Co. Ltd. | &nbsp;&nbsp; 172000 | 2345088 |
| SBI Holdings Inc. | &nbsp;&nbsp; 38600 | 1003354 |
| SCSK Corp. | &nbsp;&nbsp; 30900 | 608356 |
| Secom Co. Ltd. | &nbsp;&nbsp; 27100 | 1730410 |
| Seiko Epson Corp. | &nbsp;&nbsp; 166100 | 2875260 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 57600 | 869068 |
| Sekisui House Ltd. | &nbsp;&nbsp; 101100 | 2533194 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 513400 | 6147838 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 66500 | 2925273 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 82300 | 822036 |
| Subaru Corp. | &nbsp;&nbsp; 181700 | 3493455 |
| SUMCO Corp. | &nbsp;&nbsp; 165400 | 2719240 |
| Sumitomo Corp. | &nbsp;&nbsp; 389300 | 9673148 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 149500 | 2261496 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 51400 | 1567395 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 212300 | 15330803 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 118200 | 2987722 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 29500 | 1059526 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 244800 | 2813286 |
| Taisei Corp. | &nbsp;&nbsp; 41500 | 1762561 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 414200 | 11628361 |
| TDK Corp. | &nbsp;&nbsp; 164500 | 11475898 |
| Tokyo Electric Power Co. Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 882700 | 4421232 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 108900 | 2385958 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 72700 | 2056403 |
| Toray Industries Inc. | &nbsp;&nbsp; 322600 | 1677214 |
| Toyota Industries Corp. | &nbsp;&nbsp; 41700 | 3505723 |
| Toyota Motor Corp. | &nbsp;&nbsp; 1817500 | 34915547 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 198300 | 3964616 |
| West Japan Railway Co. | &nbsp;&nbsp; 49200 | 968602 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 189600 | 1765551 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 55400 | 672838 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 63000 | 1594671 |
|  |  | 560842515 |
| **Netherlands — 2.9%** | **Netherlands — 2.9%** | **Netherlands — 2.9%** |
| ABN AMRO Bank NV, CVA<sup>(b)</sup> | &nbsp;&nbsp; 145399 | 2538209 |
| Aegon Ltd. | &nbsp;&nbsp; 302235 | 1955839 |
| AerCap Holdings NV | &nbsp;&nbsp; 75443 | 7087870 |
| ASR Nederland NV | &nbsp;&nbsp; 22144 | 1112564 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 28550 | 2106134 |
| EXOR NV, NVS | &nbsp;&nbsp; 18082 | 1853629 |
| ING Groep NV | &nbsp;&nbsp; 706669 | 12826709 |
| JDE Peet's NV | &nbsp;&nbsp; 37102 | 815899 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 288128 | 9282098 |
| Koninklijke Philips NV<sup>(a)</sup> | &nbsp;&nbsp; 192127 | 5396786 |
| NN Group NV | &nbsp;&nbsp; 102653 | 5151554 |
| Randstad NV | &nbsp;&nbsp; 24281 | 1182605 |
|  |  | 51309896 |
| **Norway — 0.5%** | **Norway — 0.5%** | **Norway — 0.5%** |
| Aker BP ASA | &nbsp;&nbsp; 37170 | 900042 |
| DNB Bank ASA | &nbsp;&nbsp; 76056 | 1571320 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| Equinor ASA | &nbsp;&nbsp; 105663 | $2797977 |
| Mowi ASA | &nbsp;&nbsp; 48905 | 825443 |
| Norsk Hydro ASA | &nbsp;&nbsp; 233699 | 1296295 |
| Orkla ASA | &nbsp;&nbsp; 167963 | 1417522 |
| Yara International ASA | &nbsp;&nbsp; 40465 | 1152700 |
|  |  | 9961299 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| EDP SA | &nbsp;&nbsp; 276843 | 1140999 |
| **Singapore — 0.5%** | **Singapore — 0.5%** | **Singapore — 0.5%** |
| Keppel Ltd. | &nbsp;&nbsp; 369900 | 1840943 |
| Singapore Airlines Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 464000 | 2424822 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 1118000 | 2590034 |
| Singapore Telecommunications Ltd., NVS | &nbsp;&nbsp; 7200 | 16590 |
| Wilmar International Ltd. | &nbsp;&nbsp; 955200 | 2277706 |
|  |  | 9150095 |
| **Spain — 3.1%** | **Spain — 3.1%** | **Spain — 3.1%** |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 46274 | 2067368 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 1234400 | 12938008 |
| Banco de Sabadell SA | &nbsp;&nbsp; 792397 | 1672151 |
| Banco Santander SA | &nbsp;&nbsp; 4954159 | 23899593 |
| CaixaBank SA | &nbsp;&nbsp; 804432 | 4691639 |
| Grifols SA<sup>(a)(c)</sup> | &nbsp;&nbsp; 108221 | 1093091 |
| Repsol SA | &nbsp;&nbsp; 401497 | 5726520 |
| Telefonica SA | &nbsp;&nbsp; 876209 | 3968560 |
|  |  | 56056930 |
| **Sweden — 1.8%** | **Sweden — 1.8%** | **Sweden — 1.8%** |
| Boliden AB | &nbsp;&nbsp; 37643 | 1151221 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 36538 | 1253406 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 41052 | 1391545 |
| Securitas AB, Class B | &nbsp;&nbsp; 133560 | 1436785 |
| Skanska AB, Class B | &nbsp;&nbsp; 77446 | 1514206 |
| SKF AB, Class B | &nbsp;&nbsp; 73534 | 1367060 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 258257 | 2606811 |
| Swedbank AB, Class A | &nbsp;&nbsp; 141464 | 3008082 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 1406601 | 9671590 |
| Telia Co. AB | &nbsp;&nbsp; 316616 | 920204 |
| Volvo AB, Class B | &nbsp;&nbsp; 269246 | 6871360 |
| Volvo Car AB<sup>(a)</sup> | &nbsp;&nbsp; 190543 | 540635 |
|  |  | 31732905 |
| **Switzerland — 5.3%** | **Switzerland — 5.3%** | **Switzerland — 5.3%** |
| Adecco Group AG, Registered | &nbsp;&nbsp; 42735 | 1454627 |
| Holcim AG | &nbsp;&nbsp; 81045 | 7573688 |
| Novartis AG, Registered | &nbsp;&nbsp; 359624 | 40144045 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 119660 | 38741048 |
| Sandoz Group AG | &nbsp;&nbsp; 114872 | 4982372 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 2991 | 616011 |
| Swatch Group AG (The), Registered | &nbsp;&nbsp; 22345 | 906035 |
|  |  | 94417826 |
| **United Kingdom — 16.9%** | **United Kingdom — 16.9%** | **United Kingdom — 16.9%** |
| 3i Group PLC | &nbsp;&nbsp; 194325 | 7817833 |
| Anglo American PLC | &nbsp;&nbsp; 200427 | 6076209 |
| Associated British Foods PLC | &nbsp;&nbsp; 88530 | 2826343 |
| Aviva PLC | &nbsp;&nbsp; 315531 | 2032612 |
| Barclays PLC | &nbsp;&nbsp; 6439130 | 19254967 |
| Barratt Developments PLC | &nbsp;&nbsp; 204307 | 1382523 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 15307 | 999277 |
| BP PLC | &nbsp;&nbsp; 2447136 | 14465292 |
| British American Tobacco PLC | &nbsp;&nbsp; 1229041 | 43607640 |
| BT Group PLC | &nbsp;&nbsp; 2765980 | 5016108 |
| Centrica PLC | &nbsp;&nbsp; 1144537 | 1951406 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Value Factor ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 36412 | $1328671 |
| DCC PLC | &nbsp;&nbsp; 24077 | 1658784 |
| Glencore PLC | &nbsp;&nbsp; 1732865 | 9615386 |
| GSK PLC | &nbsp;&nbsp; 952506 | 18496506 |
| Haleon PLC | &nbsp;&nbsp; 928389 | 4164198 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 40834 | 998385 |
| HSBC Holdings PLC | &nbsp;&nbsp; 4243935 | 38594784 |
| Imperial Brands PLC | &nbsp;&nbsp; 394477 | 10872512 |
| Informa PLC | &nbsp;&nbsp; 172780 | 1930847 |
| J Sainsbury PLC | &nbsp;&nbsp; 785590 | 2785857 |
| Kingfisher PLC | &nbsp;&nbsp; 466811 | 1659573 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 17824971 | 13617384 |
| M&G PLC | &nbsp;&nbsp; 206192 | 563037 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 1877780 | 8909097 |
| Pearson PLC | &nbsp;&nbsp; 73811 | 1001466 |
| Persimmon PLC | &nbsp;&nbsp; 50310 | 1025935 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 82109 | 578301 |
| Rio Tinto PLC | &nbsp;&nbsp; 190321 | 12377126 |
| Shell PLC | &nbsp;&nbsp; 910040 | 33183590 |
| Smith & Nephew PLC | &nbsp;&nbsp; 192466 | 2773978 |
| Standard Chartered PLC | &nbsp;&nbsp; 938955 | 9275265 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 643132 | 1318533 |
| Tesco PLC | &nbsp;&nbsp; 2145366 | 9148849 |
| Vodafone Group PLC | &nbsp;&nbsp; 10243671 | 9585510 |
| WPP PLC | &nbsp;&nbsp; 210931 | 2034657 |
|  |  | 302928441 |
| **Total Common Stocks — 98.2%** <br>**(Cost: $1,517,457,366)** | **Total Common Stocks — 98.2%** <br>**(Cost: $1,517,457,366)** | 1759493399 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 1.2%** | **Germany — 1.2%** | **Germany — 1.2%** |
| Bayerische Motoren Werke AG, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 20886 | 1790590 |
| Henkel AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 36333 | 3107989 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Porsche Automobil Holding SE, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 87433 | $3908208 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 113114 | 12623859 |
|  |  | 21430646 |
| **Total Preferred Stocks — 1.2%** <br>**(Cost: $29,311,587)** | **Total Preferred Stocks — 1.2%** <br>**(Cost: $29,311,587)** | 21430646 |
| **Total Long-Term Investments — 99.4%** <br>**(Cost: $1,546,768,953)** | **Total Long-Term Investments — 99.4%** <br>**(Cost: $1,546,768,953)** | 1780924045 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.2%** | **Money Market Funds — 0.2%** | **Money Market Funds — 0.2%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp; 2949133 | 2950313 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(d)(e)</sup><br>| &nbsp;&nbsp; 590000 | 590000 |
| **Total Short-Term Securities — 0.2%** <br>**(Cost: $3,539,510)** | **Total Short-Term Securities — 0.2%** <br>**(Cost: $3,539,510)** | 3540313 |
| **Total Investments — 99.6%** <br>**(Cost: $1,550,308,463)** | **Total Investments — 99.6%** <br>**(Cost: $1,550,308,463)** | 1784464358 |
| **Other Assets Less Liabilities — 0.4%** | **Other Assets Less Liabilities — 0.4%** | 6889314 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1791353672 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> 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. 

<sup>(c)</sup> All or a portion of this security is on loan.

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $6275031 | $— | &nbsp;&nbsp; $(3326564 )<sup>(a)</sup><br>| &nbsp;&nbsp; $1592 | $254 | $2950313 | 2949133 | $21218 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 410000 | 180000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 590000 | 590000 | 69558 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $1592 | $254 | $3540313 |  | $90776 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Value Factor ETF**

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| TOPIX Index | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 09/12/24 | &nbsp;&nbsp; $3142 | &nbsp;&nbsp; $(12617)<br>|
| Euro STOXX 50 Index | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 3235 | &nbsp;&nbsp; (5599)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 3549 | &nbsp;&nbsp; 68229 |
|  |  |  |  | &nbsp;&nbsp; $50013 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $68229 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $68229 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $18216 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $18216 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1422618 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1422618 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(182046)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(182046)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $14247001 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Intl Value Factor ETF**

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $76969767 | &nbsp;&nbsp; $1682523632 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1759493399 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 21430646 | &nbsp;&nbsp; — | &nbsp;&nbsp; 21430646 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 3540313 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 3540313 |
|  | &nbsp;&nbsp; $80510080 | &nbsp;&nbsp; $1703954278 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1784464358 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $68229 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $68229 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (18216)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (18216)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $50013 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $50013 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Assets and Liabilities

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>MSCI Intl <br> Momentum Factor <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI Intl Quality <br> Factor ETF <br>| &nbsp;&nbsp; iShares <br>MSCI Intl <br> Size Factor <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI Intl Value <br> Factor ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $2233660127 | $8042318642 | $5344932 | $1780924045 |
| Investments, at value—affiliated<sup>(c)</sup> | 1617609 | 11570242 |  | 3540313 |
| Cash | 5343 | 5159 | 2740 | 2866 |
| Foreign currency collateral pledged for futures contracts<sup>(d)</sup> | 408215 | 2484356 | 2164 | 557329 |
| Foreign currency, at value<sup>(e)</sup> | 3536941 | 10611270 | 12641 | 4800918 |
| Receivables: |  |  |  |  |
| Securities lending income—affiliated | 271 | 4450 |  | 1246 |
| Capital shares sold |  |  |  | 284431 |
| Dividends—unaffiliated | 1110860 | 3766592 | 5720 | 2495449 |
| Dividends—affiliated | 1730 | 5161 |  | 1597 |
| Tax reclaims | 1932952 | 24346518 | 10472 | 2314972 |
| Variation margin on futures contracts | 38942 | 322663 | 211 | 71100 |
| Total assets | 2242312990 | 8095435053 | 5378880 | 1794994266 |
| **LIABILITIES** |  |  |  |  |
| Collateral on securities loaned, at value | 1038241 | 9386126 |  | 2950591 |
| Payables: |  |  |  |  |
| Investments purchased | 9 | 298 |  | 222180 |
| Investment advisory fees | 561616 | 2049713 | 2636 | 444995 |
| Professional fees | 63675 |  |  | 22828 |
| Total liabilities | 1663541 | 11436137 | 2636 | 3640594 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $2240649449 | $8083998916 | $5376244 | $1791353672 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $1931304396 | $7063612182 | $7583083 | $1659801617 |
| Accumulated earnings (loss) | 309345053 | 1020386734 | (2206839) | 131552055 |
| NET ASSETS | $2240649449 | $8083998916 | $5376244 | $1791353672 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 56700000 | 204400000 | 200000 | 62700000 |
| Net asset value | $39.52 | $39.55 | $26.88 | $28.57 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $1790500076 | $6760713018 | $5607001 | $1546768953 |
| <sup>(b)</sup> Securities loaned, at value | $1019031 | $8970589 | $— | $2772096 |
| <sup>(c)</sup> Investments, at cost—affiliated | $1617726 | $11570223 | $— | $3539510 |
| <sup>(d)</sup> Foreign currency collateral pledged, at cost | $401627 | $2476186 | $2171 | $551641 |
| <sup>(e)</sup> Foreign currency, at cost | $3416106 | $10514083 | $12651 | $4722884 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Operations

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>MSCI Intl <br> Momentum <br> Factor ETF <br>| &nbsp;&nbsp; iShares <br>MSCI Intl <br> Quality <br> Factor ETF <br>| &nbsp;&nbsp; iShares <br>MSCI Intl <br> Size <br> Factor <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI Intl <br> Value Factor <br> ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $48199033 | &nbsp;&nbsp;&nbsp; $227724939 | &nbsp;&nbsp;&nbsp; $252832 | &nbsp;&nbsp;&nbsp; $73222208 |
| Dividends—affiliated | &nbsp;&nbsp; 51342 | &nbsp;&nbsp;&nbsp; 228237 | &nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp;&nbsp; 69558 |
| Interest—unaffiliated | &nbsp;&nbsp; 16414 | &nbsp;&nbsp;&nbsp; 183936 | &nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp; 34644 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 5035 | &nbsp;&nbsp;&nbsp; 33427 | &nbsp;&nbsp;&nbsp; 243 | &nbsp;&nbsp;&nbsp; 21218 |
| Other income—unaffiliated | &nbsp;&nbsp; 15814 | &nbsp;&nbsp;&nbsp; 47832 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 63591 |
| Foreign taxes withheld | &nbsp;&nbsp; (4117679)<br>| &nbsp;&nbsp;&nbsp; (19709228)<br>| &nbsp;&nbsp;&nbsp; (24723)<br>| &nbsp;&nbsp;&nbsp; (5553286)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; 627094 | &nbsp;&nbsp;&nbsp; 2721024 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 347819 |
| Total investment income | &nbsp;&nbsp; 44797053 | &nbsp;&nbsp;&nbsp; 211230167 | &nbsp;&nbsp;&nbsp; 228693 | &nbsp;&nbsp;&nbsp; 68205752 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 5356821 | &nbsp;&nbsp;&nbsp; 22212680 | &nbsp;&nbsp;&nbsp; 24583 | &nbsp;&nbsp;&nbsp; 5086180 |
| Professional | &nbsp;&nbsp; 69159 | &nbsp;&nbsp;&nbsp; 280678 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 46020 |
| Interest expense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 214 |
| Total expenses | &nbsp;&nbsp; 5425980 | &nbsp;&nbsp;&nbsp; 22493358 | &nbsp;&nbsp;&nbsp; 24583 | &nbsp;&nbsp;&nbsp; 5132414 |
| Net investment income | &nbsp;&nbsp; 39371073 | &nbsp;&nbsp;&nbsp; 188736809 | &nbsp;&nbsp;&nbsp; 204110 | &nbsp;&nbsp;&nbsp; 63073338 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 8371555 | &nbsp;&nbsp;&nbsp; (45628369)<br>| &nbsp;&nbsp;&nbsp; (329331)<br>| &nbsp;&nbsp;&nbsp; 5533319 |
| Investments—affiliated | &nbsp;&nbsp; 74 | &nbsp;&nbsp;&nbsp; 3561 | &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp; 1592 |
| Foreign currency transactions | &nbsp;&nbsp; (857396)<br>| &nbsp;&nbsp;&nbsp; (1840609)<br>| &nbsp;&nbsp;&nbsp; (920)<br>| &nbsp;&nbsp;&nbsp; (521500)<br>|
| Futures contracts | &nbsp;&nbsp; 879679 | &nbsp;&nbsp;&nbsp; 4471637 | &nbsp;&nbsp;&nbsp; 5726 | &nbsp;&nbsp;&nbsp; 1422618 |
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 44733168 | &nbsp;&nbsp;&nbsp; (92967)<br>| &nbsp;&nbsp;&nbsp; 46487139 |
|  | &nbsp;&nbsp; 8393912 | &nbsp;&nbsp;&nbsp; 1739388 | &nbsp;&nbsp;&nbsp; (417475)<br>| &nbsp;&nbsp;&nbsp; 52923168 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 291502757 | &nbsp;&nbsp;&nbsp; 652026036 | &nbsp;&nbsp;&nbsp; 45048 | &nbsp;&nbsp;&nbsp; 92599731 |
| Investments—affiliated | &nbsp;&nbsp; (352)<br>| &nbsp;&nbsp;&nbsp; (44)<br>| &nbsp;&nbsp;&nbsp; (16)<br>| &nbsp;&nbsp;&nbsp; 254 |
| Foreign currency translations | &nbsp;&nbsp; 179357 | &nbsp;&nbsp;&nbsp; 238065 | &nbsp;&nbsp;&nbsp; (260)<br>| &nbsp;&nbsp;&nbsp; 147264 |
| Futures contracts | &nbsp;&nbsp; (185457)<br>| &nbsp;&nbsp;&nbsp; (720523)<br>| &nbsp;&nbsp;&nbsp; (2126)<br>| &nbsp;&nbsp;&nbsp; (182046)<br>|
|  | &nbsp;&nbsp; 291496305 | &nbsp;&nbsp;&nbsp; 651543534 | &nbsp;&nbsp;&nbsp; 42646 | &nbsp;&nbsp;&nbsp; 92565203 |
| Net realized and unrealized gain (loss) | &nbsp;&nbsp; 299890217 | &nbsp;&nbsp;&nbsp; 653282922 | &nbsp;&nbsp;&nbsp; (374829)<br>| &nbsp;&nbsp;&nbsp; 145488371 |
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $339261290 | &nbsp;&nbsp;&nbsp; $842019731 | &nbsp;&nbsp;&nbsp; $(170719)<br>| &nbsp;&nbsp;&nbsp; $208561709 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>MSCI Intl Momentum Factor ETF  | iShares <br>MSCI Intl Momentum Factor ETF  | iShares <br>MSCI Intl Quality Factor ETF  | iShares <br>MSCI Intl Quality Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $39371073 | &nbsp;&nbsp;&nbsp; $27897055 | &nbsp;&nbsp;&nbsp; $188736809 | &nbsp;&nbsp;&nbsp; $135253533 |
| Net realized gain (loss) | &nbsp;&nbsp; 8393912 | &nbsp;&nbsp;&nbsp; (67618684)<br>| &nbsp;&nbsp;&nbsp; 1739388 | &nbsp;&nbsp;&nbsp; (72653398)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 291496305 | &nbsp;&nbsp;&nbsp; 166460976 | &nbsp;&nbsp;&nbsp; 651543534 | &nbsp;&nbsp;&nbsp; 605057925 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 339261290 | &nbsp;&nbsp;&nbsp; 126739347 | &nbsp;&nbsp;&nbsp; 842019731 | &nbsp;&nbsp;&nbsp; 667658060 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (44996621)<br>| &nbsp;&nbsp;&nbsp; (26203219)<br>| &nbsp;&nbsp;&nbsp; (201150878)<br>| &nbsp;&nbsp;&nbsp; (124082259)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase in net assets derived from capital share transactions | &nbsp;&nbsp; 428551206 | &nbsp;&nbsp;&nbsp; 593890344 | &nbsp;&nbsp;&nbsp; 569492662 | &nbsp;&nbsp;&nbsp; 2308184692 |
| *NET ASSETS* |  |  |  |  |
| Total increase in net assets | &nbsp;&nbsp; 722815875 | &nbsp;&nbsp;&nbsp; 694426472 | &nbsp;&nbsp;&nbsp; 1210361515 | &nbsp;&nbsp;&nbsp; 2851760493 |
| Beginning of year | &nbsp;&nbsp; 1517833574 | &nbsp;&nbsp;&nbsp; 823407102 | &nbsp;&nbsp;&nbsp; 6873637401 | &nbsp;&nbsp;&nbsp; 4021876908 |
| End of year | &nbsp;&nbsp; $2240649449 | &nbsp;&nbsp;&nbsp; $1517833574 | &nbsp;&nbsp;&nbsp; $8083998916 | &nbsp;&nbsp;&nbsp; $6873637401 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>MSCI Intl Size Factor ETF  | iShares <br>MSCI Intl Size Factor ETF  | iShares <br>MSCI Intl Value Factor ETF  | iShares <br>MSCI Intl Value Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $204110 | &nbsp;&nbsp;&nbsp; $571127 | &nbsp;&nbsp;&nbsp; $63073338 | &nbsp;&nbsp;&nbsp; $67168537 |
| Net realized gain (loss) | &nbsp;&nbsp; (417475)<br>| &nbsp;&nbsp;&nbsp; 833908 | &nbsp;&nbsp;&nbsp; 52923168 | &nbsp;&nbsp;&nbsp; 2738557 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 42646 | &nbsp;&nbsp;&nbsp; 1677560 | &nbsp;&nbsp;&nbsp; 92565203 | &nbsp;&nbsp;&nbsp; 269009993 |
| Net increase (decrease) in net assets resulting from operations | &nbsp;&nbsp; (170719)<br>| &nbsp;&nbsp;&nbsp; 3082595 | &nbsp;&nbsp;&nbsp; 208561709 | &nbsp;&nbsp;&nbsp; 338917087 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (318519)<br>| &nbsp;&nbsp;&nbsp; (547721)<br>| &nbsp;&nbsp;&nbsp; (78325829)<br>| &nbsp;&nbsp;&nbsp; (61269424)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (10153001)<br>| &nbsp;&nbsp;&nbsp; (1335458)<br>| &nbsp;&nbsp;&nbsp; (89955082)<br>| &nbsp;&nbsp;&nbsp; 65537081 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (10642239)<br>| &nbsp;&nbsp;&nbsp; 1199416 | &nbsp;&nbsp;&nbsp; 40280798 | &nbsp;&nbsp;&nbsp; 343184744 |
| Beginning of year | &nbsp;&nbsp; 16018483 | &nbsp;&nbsp;&nbsp; 14819067 | &nbsp;&nbsp;&nbsp; 1751072874 | &nbsp;&nbsp;&nbsp; 1407888130 |
| End of year | &nbsp;&nbsp; $5376244 | &nbsp;&nbsp;&nbsp; $16018483 | &nbsp;&nbsp;&nbsp; $1791353672 | &nbsp;&nbsp;&nbsp; $1751072874 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI Intl Momentum Factor ETF  | iShares MSCI Intl Momentum Factor ETF  | iShares MSCI Intl Momentum Factor ETF  | iShares MSCI Intl Momentum Factor ETF  | iShares MSCI Intl Momentum Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $33.73 | &nbsp;&nbsp;&nbsp; $30.84 | &nbsp;&nbsp;&nbsp; $39.06 | &nbsp;&nbsp;&nbsp; $32.99 | &nbsp;&nbsp;&nbsp; $29.44 |
| Net investment income<sup>(a)</sup> | 0.79 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.91 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.43 | &nbsp;&nbsp;&nbsp;&nbsp;0.46 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 5.87 | &nbsp;&nbsp;&nbsp;&nbsp;2.76 | &nbsp;&nbsp;&nbsp; (6.94)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.09 | &nbsp;&nbsp;&nbsp;&nbsp;3.52 |
| Net increase (decrease) from investment operations | 6.66 | &nbsp;&nbsp;&nbsp;&nbsp;3.67 | &nbsp;&nbsp;&nbsp; (6.00)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.52 | &nbsp;&nbsp;&nbsp;&nbsp;3.98 |
| **Distributions**<sup>(d)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (0.87)<br>| &nbsp;&nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp;&nbsp; (0.43)<br>|
| From net realized gain | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1.11)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (0.87)<br>| &nbsp;&nbsp;&nbsp; (0.78)<br>| &nbsp;&nbsp;&nbsp; (2.22)<br>| &nbsp;&nbsp;&nbsp; (0.45)<br>| &nbsp;&nbsp;&nbsp; (0.43)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $39.52 | &nbsp;&nbsp;&nbsp; $33.73 | &nbsp;&nbsp;&nbsp; $30.84 | &nbsp;&nbsp;&nbsp; $39.06 | &nbsp;&nbsp;&nbsp; $32.99 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 19.98 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.09 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (16.09)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 19.80<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.65<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Net investment income | 2.20 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.89 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.65<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.16<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.53<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $2240649 | &nbsp;&nbsp;&nbsp; $1517834 | &nbsp;&nbsp;&nbsp; $823407 | &nbsp;&nbsp;&nbsp; $831917 | &nbsp;&nbsp;&nbsp; $405753 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 70<br> %<br>| &nbsp;&nbsp;&nbsp; 101<br> %<br>| &nbsp;&nbsp;&nbsp; 100<br> %<br>| &nbsp;&nbsp;&nbsp; 104<br> %<br>| &nbsp;&nbsp;&nbsp; 125<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.00.<br> • Total return by 0.03% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.00.<br> • Total return by 0.03% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.00.<br> • Total return by 0.03% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.00.<br> • Total return by 0.03% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.00.<br> • Total return by 0.03% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.00.<br> • Total return by 0.03% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.03% and 0.01%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI Intl Quality Factor ETF  | iShares MSCI Intl Quality Factor ETF  | iShares MSCI Intl Quality Factor ETF  | iShares MSCI Intl Quality Factor ETF  | iShares MSCI Intl Quality Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $36.41 | &nbsp;&nbsp;&nbsp; $32.80 | &nbsp;&nbsp;&nbsp; $39.29 | &nbsp;&nbsp;&nbsp; $30.32 | &nbsp;&nbsp;&nbsp; $29.79 |
| Net investment income<sup>(a)</sup> | 0.95 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;0.95 | &nbsp;&nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 3.19 | &nbsp;&nbsp;&nbsp;&nbsp;3.45 | &nbsp;&nbsp;&nbsp; (6.37)<br>| &nbsp;&nbsp;&nbsp;&nbsp;8.90 | &nbsp;&nbsp;&nbsp;&nbsp;0.44 |
| Net increase (decrease) from investment operations | 4.14 | &nbsp;&nbsp;&nbsp;&nbsp;4.40 | &nbsp;&nbsp;&nbsp; (5.37)<br>| &nbsp;&nbsp;&nbsp;&nbsp;9.68 | &nbsp;&nbsp;&nbsp;&nbsp;1.14 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.00)<br>| &nbsp;&nbsp;&nbsp; (0.79)<br>| &nbsp;&nbsp;&nbsp; (1.12)<br>| &nbsp;&nbsp;&nbsp; (0.71)<br>| &nbsp;&nbsp;&nbsp; (0.61)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $39.55 | &nbsp;&nbsp;&nbsp; $36.41 | &nbsp;&nbsp;&nbsp; $32.80 | &nbsp;&nbsp;&nbsp; $39.29 | &nbsp;&nbsp;&nbsp; $30.32 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 11.48 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.54<br> %<br>| &nbsp;&nbsp;&nbsp; (13.78)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 32.03<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.86<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Net investment income | 2.55 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.84<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.75<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.18<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.38<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $8083999 | &nbsp;&nbsp;&nbsp; $6873637 | &nbsp;&nbsp;&nbsp; $4021877 | &nbsp;&nbsp;&nbsp; $3744470 | &nbsp;&nbsp;&nbsp; $1655632 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 27<br> %<br>| &nbsp;&nbsp;&nbsp; 28<br> %<br>| &nbsp;&nbsp;&nbsp; 32<br> %<br>| &nbsp;&nbsp;&nbsp; 37<br> %<br>| &nbsp;&nbsp;&nbsp; 26<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 :<br> • Net investment income per share by $0.01.<br> • Total return by 0.03%.<br> • Ratio of net investment income to average net assets by 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 :<br> • Net investment income per share by $0.01.<br> • Total return by 0.03%.<br> • Ratio of net investment income to average net assets by 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 :<br> • Net investment income per share by $0.01.<br> • Total return by 0.03%.<br> • Ratio of net investment income to average net assets by 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 :<br> • Net investment income per share by $0.01.<br> • Total return by 0.03%.<br> • Ratio of net investment income to average net assets by 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 :<br> • Net investment income per share by $0.01.<br> • Total return by 0.03%.<br> • Ratio of net investment income to average net assets by 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 :<br> • Net investment income per share by $0.01.<br> • Total return by 0.03%.<br> • Ratio of net investment income to average net assets by 0.03%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI Intl Size Factor ETF  | iShares MSCI Intl Size Factor ETF  | iShares MSCI Intl Size Factor ETF  | iShares MSCI Intl Size Factor ETF  | iShares MSCI Intl Size Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $26.70 | &nbsp;&nbsp;&nbsp; $24.70 | &nbsp;&nbsp;&nbsp; $31.73 | &nbsp;&nbsp;&nbsp; $24.61 | &nbsp;&nbsp;&nbsp; $26.01 |
| Net investment income<sup>(a)</sup> | 0.63 | &nbsp;&nbsp;&nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;0.62 | &nbsp;&nbsp;&nbsp;&nbsp;0.48 |
| Net realized and unrealized gain (loss)<sup>(b)</sup> | 1.14 | &nbsp;&nbsp;&nbsp;&nbsp;2.10 | &nbsp;&nbsp;&nbsp; (5.18)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.19 | &nbsp;&nbsp;&nbsp; (1.57)<br>|
| Net increase (decrease) from investment operations | 1.77 | &nbsp;&nbsp;&nbsp;&nbsp;2.76 | &nbsp;&nbsp;&nbsp; (4.48)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.81 | &nbsp;&nbsp;&nbsp; (1.09)<br>|
| Distributions from net investment income<sup>(c)</sup> | &nbsp;&nbsp; (1.59)<br>| &nbsp;&nbsp;&nbsp; (0.76)<br>| &nbsp;&nbsp;&nbsp; (2.55)<br>| &nbsp;&nbsp;&nbsp; (0.69)<br>| &nbsp;&nbsp;&nbsp; (0.31)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $26.88 | &nbsp;&nbsp;&nbsp; $26.70 | &nbsp;&nbsp;&nbsp; $24.70 | &nbsp;&nbsp;&nbsp; $31.73 | &nbsp;&nbsp;&nbsp; $24.61 |
| **Total Return**<sup>(d)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 7.04<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 11.38<br> %<br>| &nbsp;&nbsp;&nbsp; (14.94)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 31.83<br> %<br>| &nbsp;&nbsp;&nbsp; (4.25)%<br>|
| **Ratios to Average Net Assets**<sup>(e)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Net investment income | 2.49<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.66<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.11<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.91<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $5376 | &nbsp;&nbsp;&nbsp; $16018 | &nbsp;&nbsp;&nbsp; $14819 | &nbsp;&nbsp;&nbsp; $25384 | &nbsp;&nbsp;&nbsp; $19686 |
| Portfolio turnover rate<sup>(f)</sup> | &nbsp;&nbsp; 17<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>| &nbsp;&nbsp;&nbsp; 25<br> %<br>| &nbsp;&nbsp;&nbsp; 25<br> %<br>| &nbsp;&nbsp;&nbsp; 42<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(b)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(c)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(d)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(e)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI Intl Value Factor ETF  | iShares MSCI Intl Value Factor ETF  | iShares MSCI Intl Value Factor ETF  | iShares MSCI Intl Value Factor ETF  | iShares MSCI Intl Value Factor ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $26.41 | &nbsp;&nbsp;&nbsp; $22.63 | &nbsp;&nbsp;&nbsp; $25.69 | &nbsp;&nbsp;&nbsp; $19.05 | &nbsp;&nbsp;&nbsp; $22.61 |
| Net investment income<sup>(a)</sup> | 0.99 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.00 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;0.58 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 2.43 | &nbsp;&nbsp;&nbsp;&nbsp;3.71 | &nbsp;&nbsp;&nbsp; (2.99)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6.44 | &nbsp;&nbsp;&nbsp; (3.57)<br>|
| Net increase (decrease) from investment operations | 3.42 | &nbsp;&nbsp;&nbsp;&nbsp;4.71 | &nbsp;&nbsp;&nbsp; (2.00)<br>| &nbsp;&nbsp;&nbsp;&nbsp;7.20 | &nbsp;&nbsp;&nbsp; (2.99)<br>|
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.26)<br>| &nbsp;&nbsp;&nbsp; (0.93)<br>| &nbsp;&nbsp;&nbsp; (1.06)<br>| &nbsp;&nbsp;&nbsp; (0.56)<br>| &nbsp;&nbsp;&nbsp; (0.57)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $28.57 | &nbsp;&nbsp;&nbsp; $26.41 | &nbsp;&nbsp;&nbsp; $22.63 | &nbsp;&nbsp;&nbsp; $25.69 | &nbsp;&nbsp;&nbsp; $19.05 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 13.34 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 21.19 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (8.02)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 37.95<br> %<br>| &nbsp;&nbsp;&nbsp; (13.57)%<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Net investment income | 3.72 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.24 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.96<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.18<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.76<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $1791354 | &nbsp;&nbsp;&nbsp; $1751073 | &nbsp;&nbsp;&nbsp; $1407888 | &nbsp;&nbsp;&nbsp; $1125168 | &nbsp;&nbsp;&nbsp; $451494 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 14<br> %<br>| &nbsp;&nbsp;&nbsp; 17<br> %<br>| &nbsp;&nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 18<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.00 and $0.01.<br> • Total return by 0.02% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.02% and 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.00 and $0.01.<br> • Total return by 0.02% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.02% and 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.00 and $0.01.<br> • Total return by 0.02% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.02% and 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.00 and $0.01.<br> • Total return by 0.02% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.02% and 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.00 and $0.01.<br> • Total return by 0.02% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.02% and 0.03%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.00 and $0.01.<br> • Total return by 0.02% and 0.03%.<br> • Ratio of net investment income to average net assets by 0.02% and 0.03%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| MSCI Intl Momentum Factor | &nbsp;&nbsp; Diversified |
| MSCI Intl Quality Factor | &nbsp;&nbsp; Diversified |
| MSCI Intl Size Factor | &nbsp;&nbsp; Diversified |
| MSCI Intl Value Factor | &nbsp;&nbsp; Diversified |

---

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Foreign Taxes:** Certain Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2024, if any, are disclosed in the Statements of Assets and Liabilities.

Certain Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**Collateralization:** If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Company (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's published NAV.

&nbsp;&nbsp;&nbsp;&nbsp;• Futures contracts are valued based on that day's last reported settlement or trade price on the exchange where the contract is traded.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange ("NYSE"). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments ("Systematic Fair Value Price"). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** 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:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 that may not have a secondary market and/or may have 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.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***4. SECURITIES AND OTHER INVESTMENTS***

**Warrants:** Warrants entitle a fund to purchase a specified number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date of the warrants, if any. If the price of the underlying stock does not rise above the strike price before the warrant expires, the warrant generally expires without any value and a fund will lose any amount it paid for the warrant. Thus, investments in warrants may involve more risk than investments in common stock. Warrants may trade in the same markets as their underlying stock; however, the price of the warrant does not necessarily move with the price of the underlying stock.

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| MSCI Intl Momentum Factor |  |  |  |  |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; $1019031 | &nbsp;&nbsp;&nbsp; $(1019031) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| MSCI Intl Quality Factor |  |  |  |  |
| Morgan Stanley | &nbsp;&nbsp; $8920874 | &nbsp;&nbsp;&nbsp; $(8920874) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 49715 | &nbsp;&nbsp;&nbsp; (49715) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $8970589 | &nbsp;&nbsp;&nbsp; $(8970589) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| MSCI Intl Value Factor |  |  |  |  |
| HSBC Bank PLC | &nbsp;&nbsp; $1968601 | &nbsp;&nbsp;&nbsp; $(1968601) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 746533 | &nbsp;&nbsp;&nbsp; (746533) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 56962 | &nbsp;&nbsp;&nbsp; (56962) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $2772096 | &nbsp;&nbsp;&nbsp; $(2772096) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. ("BlackRock"). BlackRock's indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. DERIVATIVE FINANCIAL INSTRUMENTS***

**Futures Contracts:** Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract's size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.

Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.

***6. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Company, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| MSCI Intl Momentum Factor | 0.30% |
| MSCI Intl Quality Factor | 0.30 |
| MSCI Intl Size Factor | 0.30 |
| MSCI Intl Value Factor | 0.30 |

---

**Distributor:** BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, redemption fee, distribution fee or service fee. The money market fund in which the cash collateral has been invested may impose a discretionary liquidity fee of up to 2% of the value redeemed, if such fee is determined to be in the best interests of such money market fund.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended July 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| MSCI Intl Momentum Factor | &nbsp;&nbsp; $1734 |
| MSCI Intl Quality Factor | &nbsp;&nbsp; 8870 |
| MSCI Intl Size Factor | &nbsp;&nbsp; 75 |
| MSCI Intl Value Factor | &nbsp;&nbsp; 6588 |

---

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

**Officers and Trustees:** Certain officers and/or trustees of the Company are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the year ended July 31, 2024, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* | &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>|
| MSCI Intl Momentum Factor | &nbsp;&nbsp; $597916450 | &nbsp;&nbsp;&nbsp; $610889363 | &nbsp;&nbsp;&nbsp; $(5155648) |
| MSCI Intl Quality Factor | &nbsp;&nbsp; 678427830 | &nbsp;&nbsp;&nbsp; 737361010 | &nbsp;&nbsp;&nbsp; (28764210) |
| MSCI Intl Size Factor | &nbsp;&nbsp; 494002 | &nbsp;&nbsp;&nbsp; 479081 | &nbsp;&nbsp;&nbsp; (20832) |
| MSCI Intl Value Factor | &nbsp;&nbsp; 125352408 | &nbsp;&nbsp;&nbsp; 120953858 | &nbsp;&nbsp;&nbsp; 10840347 |

---

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

***7. PURCHASES AND SALES***

For the year ended July 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| MSCI Intl Momentum Factor | &nbsp;&nbsp; $1284592914 | &nbsp;&nbsp;&nbsp; $1252607169 |
| MSCI Intl Quality Factor | &nbsp;&nbsp; 2094930471 | &nbsp;&nbsp;&nbsp; 2015046375 |
| MSCI Intl Size Factor | &nbsp;&nbsp; 1420994 | &nbsp;&nbsp;&nbsp; 1764224 |
| MSCI Intl Value Factor | &nbsp;&nbsp; 261720275 | &nbsp;&nbsp;&nbsp; 277522126 |

---

For the year ended July 31, 2024, in-kind transactions were as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| MSCI Intl Momentum Factor | &nbsp;&nbsp; $389192723 | &nbsp;&nbsp;&nbsp; $— |
| MSCI Intl Quality Factor | &nbsp;&nbsp; 603611580 | &nbsp;&nbsp;&nbsp; 137065638 |
| MSCI Intl Size Factor | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9880961 |
| MSCI Intl Value Factor | &nbsp;&nbsp; 114483624 | &nbsp;&nbsp;&nbsp; 203886828 |

---

***8. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Company's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of July 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2024, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| MSCI Intl Quality Factor | &nbsp;&nbsp; $44526219 | &nbsp;&nbsp;&nbsp; $(44526219) |
| MSCI Intl Size Factor | &nbsp;&nbsp; (215531) | &nbsp;&nbsp;&nbsp; 215531 |
| MSCI Intl Value Factor | &nbsp;&nbsp; 38081030 | &nbsp;&nbsp;&nbsp; (38081030) |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*07/31/23*<br>|
| MSCI Intl Momentum Factor |  |  |
| Ordinary income | &nbsp;&nbsp; $44996621 | &nbsp;&nbsp;&nbsp; $26203219 |
| MSCI Intl Quality Factor |  |  |
| Ordinary income | &nbsp;&nbsp; $201150878 | &nbsp;&nbsp;&nbsp; $124082259 |
| MSCI Intl Size Factor |  |  |
| Ordinary income | &nbsp;&nbsp; $318519 | &nbsp;&nbsp;&nbsp; $547721 |
| MSCI Intl Value Factor |  |  |
| Ordinary income | &nbsp;&nbsp; $78325829 | &nbsp;&nbsp;&nbsp; $61269424 |

---

As of July 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| MSCI Intl Momentum Factor | &nbsp;&nbsp; $20133526 | &nbsp;&nbsp;&nbsp; $(132143066) | &nbsp;&nbsp;&nbsp; $421354593 | &nbsp;&nbsp;&nbsp; $309345053 |
| MSCI Intl Quality Factor | &nbsp;&nbsp; 34589455 | &nbsp;&nbsp;&nbsp; (244931469) | &nbsp;&nbsp;&nbsp; 1230728748 | &nbsp;&nbsp;&nbsp; 1020386734 |
| MSCI Intl Size Factor | &nbsp;&nbsp; 35551 | &nbsp;&nbsp;&nbsp; (1855110) | &nbsp;&nbsp;&nbsp; (387280) | &nbsp;&nbsp;&nbsp; (2206839) |
| MSCI Intl Value Factor | &nbsp;&nbsp; 17529205 | &nbsp;&nbsp;&nbsp; (76001038) | &nbsp;&nbsp;&nbsp; 190023888 | &nbsp;&nbsp;&nbsp; 131552055 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain futures contracts, the timing and recognition of partnership income, the characterization of corporate actions and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies. 

For the year ended July 31, 2024, the Funds listed below utilized the following amounts of their respective capital loss carryforwards:

---

| | |
|:---|:---|
| *iShares ETF* | *Utilized*  |
| MSCI Intl Momentum Factor | &nbsp;&nbsp; $6598318 |
| MSCI Intl Value Factor | &nbsp;&nbsp; 12142410 |

---

A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as "passive foreign investment companies." Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.

As of July 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| MSCI Intl Momentum Factor | &nbsp;&nbsp; $1814123443 | &nbsp;&nbsp;&nbsp; $435761254 | &nbsp;&nbsp;&nbsp; $(14627101) | &nbsp;&nbsp;&nbsp; $421134153 |
| MSCI Intl Quality Factor | &nbsp;&nbsp; 6824307568 | &nbsp;&nbsp;&nbsp; 1525060358 | &nbsp;&nbsp;&nbsp; (295272966) | &nbsp;&nbsp;&nbsp; 1229787392 |
| MSCI Intl Size Factor | &nbsp;&nbsp; 5732265 | &nbsp;&nbsp;&nbsp; 507521 | &nbsp;&nbsp;&nbsp; (894854) | &nbsp;&nbsp;&nbsp; (387333) |
| MSCI Intl Value Factor | &nbsp;&nbsp; 1594637591 | &nbsp;&nbsp;&nbsp; 300098195 | &nbsp;&nbsp;&nbsp; (110284045) | &nbsp;&nbsp;&nbsp; 189814150 |

---

***9. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to discretionary liquidity fees under certain circumstances.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker's customers, potentially resulting in losses to the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

Certain Funds invest a significant portion of their assets in issuers located in a single country or a limited number of countries. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions in that country or those countries may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the Fund's portfolio. Unanticipated or sudden political or social developments may cause uncertainty in the markets and as a result adversely affect the Fund's investments. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be more volatile and less liquid than U.S. securities and may be less subject to governmental supervision not typically associated with investing in U.S. securities. Investment percentages in specific countries are presented in the Schedule of Investments.

Certain Funds invest a significant portion of their assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds' investments.

Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. These events and actions have adversely affected, and may in the future adversely affect**,** the value and exchange rate of the Euro and may continue to significantly affect the economies of every country in Europe, including countries that do not use the Euro and non-European Union member states. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but have been, and may continue to be, significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds' investments.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***10. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Year Ended <br>07/31/23 | Year Ended <br>07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| MSCI Intl Momentum Factor |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 11700000 | &nbsp;&nbsp;&nbsp; $428551206 | &nbsp;&nbsp;&nbsp; 18600000 | &nbsp;&nbsp;&nbsp; $603143499 |
| Shares redeemed | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (300000)<br>| &nbsp;&nbsp;&nbsp; (9253155)<br>|
|  | &nbsp;&nbsp; 11700000 | &nbsp;&nbsp;&nbsp; $428551206 | &nbsp;&nbsp;&nbsp; 18300000 | &nbsp;&nbsp;&nbsp; $593890344 |
| MSCI Intl Quality Factor |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 19100000 | &nbsp;&nbsp;&nbsp; $707357611 | &nbsp;&nbsp;&nbsp; 70900000 | &nbsp;&nbsp;&nbsp; $2461661141 |
| Shares redeemed | &nbsp;&nbsp; (3500000)<br>| &nbsp;&nbsp;&nbsp; (137864949)<br>| &nbsp;&nbsp;&nbsp; (4700000)<br>| &nbsp;&nbsp;&nbsp; (153476449)<br>|
|  | &nbsp;&nbsp; 15600000 | &nbsp;&nbsp;&nbsp; $569492662 | &nbsp;&nbsp;&nbsp; 66200000 | &nbsp;&nbsp;&nbsp; $2308184692 |
| MSCI Intl Size Factor |  |  |  |  |
| Shares sold | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; $14349062 |
| Shares redeemed | &nbsp;&nbsp; (400000)<br>| &nbsp;&nbsp;&nbsp; (10153001)<br>| &nbsp;&nbsp;&nbsp; (600000)<br>| &nbsp;&nbsp;&nbsp; (15684520)<br>|
|  | &nbsp;&nbsp; (400000)<br>| &nbsp;&nbsp;&nbsp; $(10153001)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(1335458)<br>|
| MSCI Intl Value Factor |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp;&nbsp; $116907773 | &nbsp;&nbsp;&nbsp; 11600000 | &nbsp;&nbsp;&nbsp; $246667929 |
| Shares redeemed | &nbsp;&nbsp; (7900000)<br>| &nbsp;&nbsp;&nbsp; (206862855)<br>| &nbsp;&nbsp;&nbsp; (7500000)<br>| &nbsp;&nbsp;&nbsp; (181130848)<br>|
|  | &nbsp;&nbsp; (3600000)<br>| &nbsp;&nbsp;&nbsp; $(89955082)<br>| &nbsp;&nbsp;&nbsp; 4100000 | &nbsp;&nbsp;&nbsp; $65537081 |

---

The consideration for the purchase of Creation Units of a fund in the Company generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Company may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Company's administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for Funds using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Fund's custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

***11. FOREIGN WITHHOLDING TAX CLAIMS***

The Internal Revenue Service ("IRS") has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which each of the iShares MSCI Intl Momentum Factor ETF, iShares MSCI Intl Quality Factor ETF and iShares MSCI Intl Value Factor ETF are able to pass through to shareholders as a foreign tax credit in the current year, each of the Funds will be able to offset the prior years' withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Funds.

***12. SUBSEQUENT EVENTS***

Management's evaluation of the impact of all subsequent events on the Funds' financial statements was completed through the date the financial statements were available to be issued and the following item was noted:

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

On June 5, 2024, the Board approved the liquidation of iShares MSCI Intl Size Factor ETF. After the close of business on August 12, 2024, the Fund no longer accepts creation orders. Trading in the Fund halted prior to market open on August 13, 2024. Proceeds of the liquidation were sent to shareholders on August 15, 2024.

Notes to Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the four funds listed in the table below

***Opinions on the Financial Statements*** 

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (four of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of July 31, 2024, the related statements of operations for the year ended July 31, 2024, the statements of changes in net assets for each of the two years in the period ended July 31, 2024, including the related notes, and the financial highlights for each of the five years in the period ended July 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of July 31, 2024, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended July 31, 2024 and each of the financial highlights for each of the five years in the period ended July 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| iShares MSCI Intl Momentum Factor ETF |
| iShares MSCI Intl Quality Factor ETF |
| iShares MSCI Intl Size Factor ETF |
| iShares MSCI Intl Value Factor ETF |

---

***Basis for Opinions*** 

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

September 23, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

2024 iShares Annual Financial Statements

------

Important Tax Information (unaudited)

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Dividend* <br>*Income*<br>|
| MSCI Intl Momentum Factor | &nbsp;&nbsp; $45119167 |
| MSCI Intl Quality Factor | &nbsp;&nbsp; 212584391 |
| MSCI Intl Size Factor | &nbsp;&nbsp; 214518 |
| MSCI Intl Value Factor | &nbsp;&nbsp; 68343626 |

---

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended July 31, 2024:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Foreign* <br>*Taxes Paid*<br>|
| MSCI Intl Momentum Factor | &nbsp;&nbsp; $48199033 | &nbsp;&nbsp;&nbsp;&nbsp; $3137972 |
| MSCI Intl Quality Factor | &nbsp;&nbsp; 227724940 | &nbsp;&nbsp;&nbsp;&nbsp; 16117634 |
| MSCI Intl Size Factor | &nbsp;&nbsp; 252834 | &nbsp;&nbsp;&nbsp;&nbsp; 24107 |
| MSCI Intl Value Factor | &nbsp;&nbsp; 73222211 | &nbsp;&nbsp;&nbsp;&nbsp; 5003289 |

---

Important Tax Information

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of each Fund's portfolio securities is available in each Fund Prospectus. Each Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at **iShares.com**.

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract

**iShares MSCI Intl Momentum Factor ETF, iShares MSCI Intl Quality Factor ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares MSCI Intl Size Factor ETF, iShares MSCI Intl Value Factor ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio

2024 iShares Annual Financial Statements

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Board Review and Approval of Investment Advisory Contract (continued)

securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

Board Review and Approval of Investment Advisory Contract

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Glossary of Terms Used in this Report

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| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | American Depositary Receipt |
| NVS | Non-Voting Shares |
| REIT | Real Estate Investment Trust |

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2024 iShares Annual Financial Statements

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc., nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

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July 31, 2024

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2024 Annual Financial Statements <br>

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| |
|:---|
| **iShares Trust** |
| • iShares MSCI ACWI ETF \| ACWI \| NASDAQ |
| • iShares MSCI ACWI Low Carbon Target ETF \| CRBN \| NYSE Arca |
| • iShares MSCI All Country Asia ex Japan ETF \| AAXJ \| NASDAQ |
| • iShares MSCI Europe Financials ETF \| EUFN \| NASDAQ |
| • iShares MSCI Europe Small-Cap ETF \| IEUS \| NASDAQ |
| • iShares MSCI Kokusai ETF \| TOK \| NYSE Arca |

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**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
|  | Page |
| [Schedules of Investments](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_SOIs-Footer-iSharesReport_1)  | &nbsp;&nbsp; 3 |
| [Statements of Assets and Liabilities](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_FS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 76 |
| [Statements of Operations](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_FS-Footer-iSharesReport_3)  | &nbsp;&nbsp; 78 |
| [Statements of Changes in Net Assets](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_FS-Footer-iSharesReport_5)  | &nbsp;&nbsp; 80 |
| [Financial Highlights](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_FS-Footer-iSharesReport_8)  | &nbsp;&nbsp; 83 |
| [Notes to Financial Statements](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_NTFS-Footer-iSharesReport_1)  | &nbsp;&nbsp; 89 |
| [Report of Independent Registered Public Accounting Firm](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_opinion-Footer-iSharesReport_1)  | &nbsp;&nbsp; 102 |
| [Important Tax Information](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_Tax-annual-Footer-iSharesReport_1)  | &nbsp;&nbsp; 103 |
| [Additional Information](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_SAI-Footer-iSharesReport-181_1)  | &nbsp;&nbsp; 104 |
| [Board Review and Approval of Investment Advisory Contract](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_15Cheader-Footer-iSharesReport-181_1)  | &nbsp;&nbsp; 106 |
| [Glossary of Terms Used in this Report](#xx_08c07716-b45d-45d7-8cb1-e652af5c125d_Abbreviations-Footer-iSharesReport_1)  | &nbsp;&nbsp; 115 |

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Schedule of Investments

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 1.7%** | **Australia — 1.7%** | **Australia — 1.7%** |
| Ampol Ltd. | &nbsp;&nbsp; 69674 | $1526206 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 711837 | 13542727 |
| APA Group | &nbsp;&nbsp; 312888 | 1621747 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 143222 | 5100723 |
| ASX Ltd. | &nbsp;&nbsp; 50172 | 2137637 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 474382 | 1156672 |
| BHP Group Ltd. | &nbsp;&nbsp; 1225748 | 34045083 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 109531 | 1590516 |
| Brambles Ltd. | &nbsp;&nbsp; 349095 | 3558909 |
| CAR Group Ltd. | &nbsp;&nbsp; 79904 | 1827446 |
| Cochlear Ltd. | &nbsp;&nbsp; 17505 | 3955354 |
| Coles Group Ltd. | &nbsp;&nbsp; 318855 | 3778964 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 404238 | 36425928 |
| Computershare Ltd. | &nbsp;&nbsp; 148568 | 2679573 |
| CSL Ltd. | &nbsp;&nbsp; 119486 | 24251245 |
| Dexus | &nbsp;&nbsp; 290822 | 1340851 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 334476 | 1203001 |
| Fortescue Ltd. | &nbsp;&nbsp; 405112 | 5040739 |
| Goodman Group | &nbsp;&nbsp; 403980 | 9326317 |
| GPT Group (The) | &nbsp;&nbsp; 585957 | 1784836 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 528376 | 2556232 |
| James Hardie Industries PLC<sup>(a)</sup> | &nbsp;&nbsp; 100278 | 3602349 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 491871 | 1602792 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 87087 | 11985406 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 760933 | 1980969 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 40719 | 1456224 |
| Mirvac Group | &nbsp;&nbsp; 1180720 | 1662462 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 747767 | 18886098 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 302994 | 2812126 |
| Orica Ltd. | &nbsp;&nbsp; 124062 | 1459823 |
| Origin Energy Ltd. | &nbsp;&nbsp; 416514 | 2857899 |
| Pilbara Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 684755 | 1323538 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 11068 | 1044256 |
| Qantas Airways Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 240341 | 1018196 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 368964 | 4354532 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 48006 | 1461957 |
| REA Group Ltd. | &nbsp;&nbsp; 11817 | 1588792 |
| Reece Ltd. | &nbsp;&nbsp; 69299 | 1255797 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 80998 | 6224056 |
| Santos Ltd. | &nbsp;&nbsp; 811512 | 4230336 |
| Scentre Group | &nbsp;&nbsp; 1265115 | 2885003 |
| SEEK Ltd. | &nbsp;&nbsp; 103286 | 1495745 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 41607 | 1067508 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 107322 | 1945014 |
| South32 Ltd. | &nbsp;&nbsp; 1174433 | 2355554 |
| Stockland | &nbsp;&nbsp; 621728 | 1877873 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 283609 | 3299825 |
| Telstra Group Ltd. | &nbsp;&nbsp; 904557 | 2337614 |
| Transurban Group | &nbsp;&nbsp; 713582 | 6089563 |
| Treasury Wine Estates Ltd. | &nbsp;&nbsp; 209859 | 1696609 |
| Vicinity Ltd. | &nbsp;&nbsp; 1016297 | 1409197 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 59518 | 1385305 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 272166 | 13135329 |
| Westpac Banking Corp. | &nbsp;&nbsp; 837896 | 16374834 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 38683 | 2423920 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 463029 | 8396941 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 284243 | 6413423 |
| Xero Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 34936 | 3183269 |
|  |  | 307030840 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Austria — 0.1%** | **Austria — 0.1%** | **Austria — 0.1%** |
| Erste Group Bank AG | &nbsp;&nbsp; 78552 | $4085981 |
| OMV AG | &nbsp;&nbsp; 36785 | 1539088 |
| Verbund AG | &nbsp;&nbsp; 17848 | 1433116 |
| voestalpine AG | &nbsp;&nbsp; 35472 | 909745 |
|  |  | 7967930 |
| **Belgium — 0.2%** | **Belgium — 0.2%** | **Belgium — 0.2%** |
| Ageas SA/NV | &nbsp;&nbsp; 43179 | 2061418 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 212649 | 12625856 |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 14210 | 7265377 |
| D'ieteren Group | &nbsp;&nbsp; 5835 | 1340989 |
| Elia Group SA/NV | &nbsp;&nbsp; 9522 | 988957 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 25212 | 1881549 |
| KBC Group NV | &nbsp;&nbsp; 59138 | 4574083 |
| Lotus Bakeries NV | &nbsp;&nbsp; 111 | 1206103 |
| Sofina SA | &nbsp;&nbsp; 3672 | 867610 |
| Syensqo SA | &nbsp;&nbsp; 15665 | 1385221 |
| UCB SA | &nbsp;&nbsp; 29679 | 4959191 |
| Umicore SA | &nbsp;&nbsp; 55126 | 757105 |
| Warehouses De Pauw CVA | &nbsp;&nbsp; 53365 | 1445613 |
|  |  | 41359072 |
| **Brazil — 0.3%** | **Brazil — 0.3%** | **Brazil — 0.3%** |
| Ambev SA | &nbsp;&nbsp; 1084406 | 2220136 |
| Atacadao SA<sup>(a)</sup> | &nbsp;&nbsp; 94443 | 154618 |
| B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp; 1425467 | 2734425 |
| Banco Bradesco SA | &nbsp;&nbsp; 90907 | 180491 |
| Banco BTG Pactual SA | &nbsp;&nbsp; 316201 | 1823027 |
| Banco do Brasil SA | &nbsp;&nbsp; 396510 | 1861220 |
| BB Seguridade Participacoes SA | &nbsp;&nbsp; 187167 | 1163806 |
| BRF SA<sup>(a)</sup> | &nbsp;&nbsp; 101598 | 378288 |
| CCR SA | &nbsp;&nbsp; 363928 | 796554 |
| Centrais Eletricas Brasileiras SA | &nbsp;&nbsp; 305717 | 2138773 |
| Cia. de Saneamento Basico do Estado de Sao <br> Paulo SABESP<br>| &nbsp;&nbsp; 97177 | 1516031 |
| Cia. Siderurgica Nacional SA | &nbsp;&nbsp; 191583 | 401718 |
| Cosan SA | &nbsp;&nbsp; 360842 | 852958 |
| Energisa SA | &nbsp;&nbsp; 20142 | 156438 |
| Eneva SA<sup>(a)</sup> | &nbsp;&nbsp; 197771 | 441616 |
| Engie Brasil Energia SA | &nbsp;&nbsp; 54547 | 426547 |
| Equatorial Energia SA | &nbsp;&nbsp; 315808 | 1822436 |
| Hapvida Participacoes e Investimentos SA<sup>(a)(c)</sup> | &nbsp;&nbsp; 1434118 | 1031949 |
| Hypera SA | &nbsp;&nbsp; 115994 | 590619 |
| JBS SA | &nbsp;&nbsp; 215556 | 1285070 |
| Klabin SA | &nbsp;&nbsp; 222747 | 869935 |
| Localiza Rent a Car SA | &nbsp;&nbsp; 187540 | 1453264 |
| Lojas Renner SA | &nbsp;&nbsp; 277063 | 649533 |
| Natura & Co. Holding SA | &nbsp;&nbsp; 272095 | 718223 |
| Petroleo Brasileiro SA | &nbsp;&nbsp; 880822 | 6322565 |
| PRIO SA | &nbsp;&nbsp; 162588 | 1381214 |
| Raia Drogasil SA | &nbsp;&nbsp; 324661 | 1584230 |
| Rede D'Or Sao Luiz SA<sup>(c)</sup> | &nbsp;&nbsp; 156773 | 764719 |
| Rumo SA | &nbsp;&nbsp; 336547 | 1317949 |
| Sendas Distribuidora SA<sup>(a)</sup> | &nbsp;&nbsp; 377374 | 655183 |
| Suzano SA | &nbsp;&nbsp; 169759 | 1616510 |
| Telefonica Brasil SA | &nbsp;&nbsp; 120679 | 1035004 |
| TIM SA/Brazil | &nbsp;&nbsp; 258594 | 799627 |
| TOTVS SA | &nbsp;&nbsp; 181827 | 892073 |
| Ultrapar Participacoes SA | &nbsp;&nbsp; 206154 | 809505 |
| Vale SA | &nbsp;&nbsp; 811040 | 8837176 |
| Vibra Energia SA | &nbsp;&nbsp; 255127 | 1044658 |
| WEG SA | &nbsp;&nbsp; 407715 | 3651749 |
|  |  | 56379837 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada — 2.7%** | **Canada — 2.7%** | **Canada — 2.7%** |
| Agnico Eagle Mines Ltd. | &nbsp;&nbsp; 117339 | $9053796 |
| Air Canada<sup>(a)(b)</sup> | &nbsp;&nbsp; 52213 | 601680 |
| Alimentation Couche-Tard Inc. | &nbsp;&nbsp; 193169 | 11907879 |
| AltaGas Ltd. | &nbsp;&nbsp; 62966 | 1501351 |
| ARC Resources Ltd. | &nbsp;&nbsp; 135796 | 2349738 |
| Bank of Montreal | &nbsp;&nbsp; 177629 | 14981999 |
| Bank of Nova Scotia (The) | &nbsp;&nbsp; 297366 | 13885623 |
| Barrick Gold Corp. | &nbsp;&nbsp; 422497 | 7827815 |
| BCE Inc. | &nbsp;&nbsp; 23695 | 799244 |
| Brookfield Asset Management Ltd. | &nbsp;&nbsp; 85228 | 3719871 |
| Brookfield Corp., Class A | &nbsp;&nbsp; 331393 | 16161004 |
| Brookfield Renewable Corp., Class A | &nbsp;&nbsp; 30887 | 868232 |
| BRP Inc. | &nbsp;&nbsp; 8479 | 614315 |
| CAE Inc.<sup>(a)</sup> | &nbsp;&nbsp; 76005 | 1382860 |
| Cameco Corp. | &nbsp;&nbsp; 105147 | 4785744 |
| Canadian Apartment Properties REIT | &nbsp;&nbsp; 27711 | 963407 |
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp; 227427 | 11761335 |
| Canadian National Railway Co. | &nbsp;&nbsp; 133216 | 15421659 |
| Canadian Natural Resources Ltd. | &nbsp;&nbsp; 528632 | 18769087 |
| Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp; 223819 | 18769249 |
| Canadian Tire Corp. Ltd., Class A, NVS | &nbsp;&nbsp; 15074 | 1547961 |
| Canadian Utilities Ltd., Class A, NVS | &nbsp;&nbsp; 65998 | 1545443 |
| CCL Industries Inc., Class B, NVS | &nbsp;&nbsp; 38077 | 2071462 |
| Cenovus Energy Inc. | &nbsp;&nbsp; 328383 | 6616894 |
| CGI Inc.<sup>(a)</sup> | &nbsp;&nbsp; 50729 | 5784425 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 5097 | 16082287 |
| Descartes Systems Group Inc. (The)<sup>(a)</sup> | &nbsp;&nbsp; 17689 | 1799072 |
| Dollarama Inc. | &nbsp;&nbsp; 69986 | 6560887 |
| Element Fleet Management Corp. | &nbsp;&nbsp; 92879 | 1776652 |
| Emera Inc. | &nbsp;&nbsp; 72459 | 2615693 |
| Empire Co. Ltd., NVS | &nbsp;&nbsp; 33415 | 883386 |
| Enbridge Inc. | &nbsp;&nbsp; 516267 | 19320983 |
| Fairfax Financial Holdings Ltd. | &nbsp;&nbsp; 5103 | 6018077 |
| First Quantum Minerals Ltd. | &nbsp;&nbsp; 166808 | 2041832 |
| FirstService Corp. | &nbsp;&nbsp; 7969 | 1389474 |
| Fortis Inc./Canada | &nbsp;&nbsp; 112266 | 4693437 |
| Franco-Nevada Corp. | &nbsp;&nbsp; 46061 | 5935735 |
| George Weston Ltd. | &nbsp;&nbsp; 13757 | 2130534 |
| GFL Environmental Inc. | &nbsp;&nbsp; 52570 | 2039746 |
| Gildan Activewear Inc. | &nbsp;&nbsp; 43304 | 1763337 |
| Great-West Lifeco Inc. | &nbsp;&nbsp; 67135 | 2016506 |
| Hydro One Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 88963 | 2788128 |
| iA Financial Corp. Inc. | &nbsp;&nbsp; 25131 | 1699366 |
| IGM Financial Inc. | &nbsp;&nbsp; 7760 | 219876 |
| Imperial Oil Ltd. | &nbsp;&nbsp; 47362 | 3393022 |
| Intact Financial Corp. | &nbsp;&nbsp; 45063 | 8189119 |
| Ivanhoe Mines Ltd., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 132631 | 1733958 |
| Keyera Corp. | &nbsp;&nbsp; 51041 | 1439935 |
| Kinross Gold Corp. | &nbsp;&nbsp; 317887 | 2889568 |
| Loblaw Companies Ltd. | &nbsp;&nbsp; 35963 | 4434651 |
| Lundin Mining Corp. | &nbsp;&nbsp; 156918 | 1584353 |
| Magna International Inc. | &nbsp;&nbsp; 66852 | 2966735 |
| Manulife Financial Corp. | &nbsp;&nbsp; 444365 | 11837717 |
| MEG Energy Corp.<sup>(a)</sup> | &nbsp;&nbsp; 54055 | 1120134 |
| Metro Inc./CN | &nbsp;&nbsp; 53382 | 3178987 |
| National Bank of Canada | &nbsp;&nbsp; 84344 | 7054681 |
| Northland Power Inc. | &nbsp;&nbsp; 57299 | 958269 |
| Nutrien Ltd. | &nbsp;&nbsp; 118835 | 6094743 |
| Onex Corp. | &nbsp;&nbsp; 17206 | 1179053 |
| Open Text Corp. | &nbsp;&nbsp; 71113 | 2241580 |
| Pan American Silver Corp. | &nbsp;&nbsp; 92827 | 2134016 |
| Parkland Corp. | &nbsp;&nbsp; 38151 | 1070212 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Pembina Pipeline Corp. | &nbsp;&nbsp; 136959 | $5308135 |
| Power Corp. of Canada | &nbsp;&nbsp; 150018 | 4341954 |
| Quebecor Inc., Class B | &nbsp;&nbsp; 33521 | 740514 |
| RB Global Inc. | &nbsp;&nbsp; 41824 | 3331925 |
| Restaurant Brands International Inc. | &nbsp;&nbsp; 71071 | 4976231 |
| RioCan REIT | &nbsp;&nbsp; 18236 | 236164 |
| Rogers Communications Inc., Class B, NVS | &nbsp;&nbsp; 87472 | 3382559 |
| Royal Bank of Canada | &nbsp;&nbsp; 343315 | 38363552 |
| Saputo Inc. | &nbsp;&nbsp; 74307 | 1707718 |
| Shopify Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 291153 | 17832106 |
| Stantec Inc. | &nbsp;&nbsp; 25049 | 2204000 |
| Sun Life Financial Inc. | &nbsp;&nbsp; 139329 | 6916749 |
| Suncor Energy Inc. | &nbsp;&nbsp; 311943 | 12458289 |
| TC Energy Corp. | &nbsp;&nbsp; 247144 | 10493305 |
| Teck Resources Ltd., Class B | &nbsp;&nbsp; 107826 | 5285672 |
| TELUS Corp. | &nbsp;&nbsp; 113080 | 1825628 |
| TFI International Inc. | &nbsp;&nbsp; 18119 | 2820378 |
| Thomson Reuters Corp. | &nbsp;&nbsp; 39413 | 6387324 |
| TMX Group Ltd. | &nbsp;&nbsp; 63353 | 1925392 |
| Toromont Industries Ltd. | &nbsp;&nbsp; 15658 | 1456189 |
| Toronto-Dominion Bank (The) | &nbsp;&nbsp; 430099 | 25398161 |
| Tourmaline Oil Corp. | &nbsp;&nbsp; 82498 | 3629996 |
| West Fraser Timber Co. Ltd. | &nbsp;&nbsp; 16636 | 1475208 |
| Wheaton Precious Metals Corp. | &nbsp;&nbsp; 109126 | 6524718 |
| WSP Global Inc. | &nbsp;&nbsp; 28065 | 4661882 |
|  |  | 492651563 |
| **Chile — 0.0%** | **Chile — 0.0%** | **Chile — 0.0%** |
| Banco de Chile | &nbsp;&nbsp; 10085241 | 1201502 |
| Banco de Credito e Inversiones SA | &nbsp;&nbsp; 25196 | 736773 |
| Banco Santander Chile | &nbsp;&nbsp; 18580000 | 925178 |
| Cia. Sud Americana de Vapores SA | &nbsp;&nbsp; 3074673 | 211306 |
| Empresas CMPC SA | &nbsp;&nbsp; 321350 | 558172 |
| Empresas Copec SA | &nbsp;&nbsp; 131685 | 917164 |
| Enel Americas SA | &nbsp;&nbsp; 7224158 | 676108 |
| Enel Chile SA | &nbsp;&nbsp; 7801320 | 445612 |
| Falabella SA<sup>(a)</sup> | &nbsp;&nbsp; 170213 | 563838 |
| Latam Airlines Group SA | &nbsp;&nbsp; 46556409 | 576348 |
|  |  | 6812001 |
| **China — 2.5%** | **China — 2.5%** | **China — 2.5%** |
| AAC Technologies Holdings Inc. | &nbsp;&nbsp; 220500 | 807139 |
| Advanced Micro-Fabrication Equipment Inc./China, <br> Class A<br>| &nbsp;&nbsp; 11200 | 244157 |
| AECC Aviation Power Co. Ltd., Class A | &nbsp;&nbsp; 40800 | 224534 |
| Agricultural Bank of China Ltd., Class A | &nbsp;&nbsp; 1558900 | 989973 |
| Agricultural Bank of China Ltd., Class H | &nbsp;&nbsp; 6354000 | 2843367 |
| Aier Eye Hospital Group Co. Ltd., Class A | &nbsp;&nbsp; 131500 | 201502 |
| Akeso Inc.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 185000 | 1001902 |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp; 3792676 | 37320776 |
| Alibaba Health Information Technology Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1598000 | 675924 |
| Aluminum Corp. of China Ltd., Class H | &nbsp;&nbsp; 1516000 | 848633 |
| Anhui Conch Cement Co. Ltd., Class A | &nbsp;&nbsp; 65892 | 220468 |
| Anhui Conch Cement Co. Ltd., Class H | &nbsp;&nbsp; 314500 | 766824 |
| Anhui Gujing Distillery Co. Ltd., Class A | &nbsp;&nbsp; 7500 | 195289 |
| ANTA Sports Products Ltd. | &nbsp;&nbsp; 319800 | 2862478 |
| Autohome Inc., ADR | &nbsp;&nbsp; 18963 | 472937 |
| Avary Holding Shenzhen Co. Ltd., Class A | &nbsp;&nbsp; 53200 | 275195 |
| AviChina Industry & Technology Co. Ltd., Class H | &nbsp;&nbsp; 898000 | 439277 |
| Baidu Inc.<sup>(a)</sup> | &nbsp;&nbsp; 533510 | 5915346 |
| Bank of Beijing Co. Ltd., Class A | &nbsp;&nbsp; 515100 | 380002 |
| Bank of China Ltd., Class A | &nbsp;&nbsp; 934800 | 603027 |
| Bank of China Ltd., Class H | &nbsp;&nbsp; 18131000 | 8073518 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Bank of Communications Co. Ltd., Class A | &nbsp;&nbsp; 1116700 | $1137505 |
| Bank of Communications Co. Ltd., Class H | &nbsp;&nbsp; 736000 | 534769 |
| Bank of Hangzhou Co. Ltd., Class A | &nbsp;&nbsp; 112400 | 209530 |
| Bank of Jiangsu Co. Ltd., Class A | &nbsp;&nbsp; 374400 | 398593 |
| Bank of Nanjing Co. Ltd., Class A | &nbsp;&nbsp; 169300 | 236457 |
| Bank of Ningbo Co. Ltd., Class A | &nbsp;&nbsp; 100500 | 299260 |
| Bank of Shanghai Co. Ltd., Class A | &nbsp;&nbsp; 360600 | 363837 |
| Baoshan Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp; 521900 | 491134 |
| BeiGene Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 161134 | 2050067 |
| Beijing Enterprises Holdings Ltd. | &nbsp;&nbsp; 82000 | 272081 |
| Beijing Enterprises Water Group Ltd. | &nbsp;&nbsp; 1340000 | 413458 |
| Beijing Kingsoft Office Software Inc., Class A | &nbsp;&nbsp; 13600 | 397000 |
| Beijing Tongrentang Co. Ltd., Class A | &nbsp;&nbsp; 36000 | 185945 |
| Beijing-Shanghai High Speed Railway Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 1055300 | 835906 |
| Bilibili Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 54348 | 826965 |
| BOC Aviation Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 70100 | 615058 |
| BOE Technology Group Co. Ltd., Class A | &nbsp;&nbsp; 742500 | 405565 |
| Bosideng International Holdings Ltd. | &nbsp;&nbsp; 1128000 | 564516 |
| BYD Co. Ltd., Class A | &nbsp;&nbsp; 32200 | 1101315 |
| BYD Co. Ltd., Class H | &nbsp;&nbsp; 260000 | 7697238 |
| BYD Electronic International Co. Ltd. | &nbsp;&nbsp; 268500 | 1044968 |
| Cambricon Technologies Corp. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 8600 | 314616 |
| CGN Power Co. Ltd. | &nbsp;&nbsp; 256800 | 166359 |
| CGN Power Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 4159000 | 1698407 |
| China CITIC Bank Corp. Ltd., Class H | &nbsp;&nbsp; 2139000 | 1280042 |
| China Coal Energy Co. Ltd., Class H | &nbsp;&nbsp; 695000 | 704112 |
| China Communications Services Corp. Ltd., <br> Class H<br>| &nbsp;&nbsp; 582000 | 299004 |
| China Construction Bank Corp., Class A | &nbsp;&nbsp; 359700 | 370594 |
| China Construction Bank Corp., Class H | &nbsp;&nbsp; 22295260 | 15568463 |
| China CSSC Holdings Ltd., Class A | &nbsp;&nbsp; 126200 | 716600 |
| China Eastern Airlines Corp. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 642100 | 354652 |
| China Everbright Bank Co. Ltd., Class A | &nbsp;&nbsp; 1264800 | 553166 |
| China Feihe Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1185000 | 536676 |
| China Galaxy Securities Co. Ltd., Class A | &nbsp;&nbsp; 253700 | 382225 |
| China Gas Holdings Ltd. | &nbsp;&nbsp; 772600 | 702618 |
| China Hongqiao Group Ltd. | &nbsp;&nbsp; 680500 | 847635 |
| China International Capital Corp. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 828400 | 923328 |
| China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp; 50800 | 226410 |
| China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 1787000 | 2479205 |
| China Literature Ltd.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 121000 | 392089 |
| China Longyuan Power Group Corp. Ltd., Class H | &nbsp;&nbsp; 1059000 | 949560 |
| China Mengniu Dairy Co. Ltd. | &nbsp;&nbsp; 810000 | 1355367 |
| China Merchants Bank Co. Ltd., Class A | &nbsp;&nbsp; 408400 | 1849356 |
| China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp; 801288 | 3321199 |
| China Merchants Port Holdings Co. Ltd. | &nbsp;&nbsp; 444000 | 652873 |
| China Merchants Securities Co. Ltd., Class A | &nbsp;&nbsp; 135900 | 279981 |
| China Merchants Shekou Industrial Zone Holdings <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 134700 | 163992 |
| China Minsheng Banking Corp. Ltd., Class A | &nbsp;&nbsp; 1388200 | 682574 |
| China Minsheng Banking Corp. Ltd., Class H | &nbsp;&nbsp; 13500 | 4785 |
| China National Building Material Co. Ltd., Class H | &nbsp;&nbsp; 1060000 | 351317 |
| China National Nuclear Power Co. Ltd., Class A | &nbsp;&nbsp; 465400 | 710956 |
| China Oilfield Services Ltd., Class H | &nbsp;&nbsp; 670000 | 590199 |
| China Overseas Land & Investment Ltd. | &nbsp;&nbsp; 922000 | 1490537 |
| China Pacific Insurance Group Co. Ltd., Class A | &nbsp;&nbsp; 212997 | 871627 |
| China Pacific Insurance Group Co. Ltd., Class H | &nbsp;&nbsp; 381000 | 1012704 |
| China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp; 459700 | 412771 |
| China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp; 6395200 | 4098579 |
| China Power International Development Ltd. | &nbsp;&nbsp; 1783000 | 839271 |
| China Railway Group Ltd., Class H | &nbsp;&nbsp; 1507000 | 734906 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| China Resources Beer Holdings Co. Ltd. | &nbsp;&nbsp; 427000 | $1328364 |
| China Resources Gas Group Ltd. | &nbsp;&nbsp; 284000 | 963833 |
| China Resources Land Ltd. | &nbsp;&nbsp; 802500 | 2398745 |
| China Resources Microelectronics Ltd. | &nbsp;&nbsp; 40200 | 221350 |
| China Resources Mixc Lifestyle Services Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 178000 | 498971 |
| China Resources Power Holdings Co. Ltd. | &nbsp;&nbsp; 612000 | 1683510 |
| China Ruyi Holdings Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1608000 | 429845 |
| China Shenhua Energy Co. Ltd., Class A | &nbsp;&nbsp; 198200 | 1090662 |
| China Shenhua Energy Co. Ltd., Class H | &nbsp;&nbsp; 654000 | 2719404 |
| China State Construction Engineering Corp. Ltd., <br> Class A<br>| &nbsp;&nbsp; 670877 | 518449 |
| China State Construction International <br> Holdings Ltd.<br>| &nbsp;&nbsp; 686000 | 958820 |
| China Taiping Insurance Holdings Co. Ltd. | &nbsp;&nbsp; 650200 | 692229 |
| China Three Gorges Renewables Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 1133200 | 762470 |
| China Tourism Group Duty Free Corp. Ltd., <br> Class A<br>| &nbsp;&nbsp; 48692 | 462832 |
| China Tower Corp. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 10840000 | 1330052 |
| China United Network Communications Ltd., <br> Class A<br>| &nbsp;&nbsp; 540000 | 351519 |
| China Vanke Co. Ltd., Class A | &nbsp;&nbsp; 258396 | 253721 |
| China Vanke Co. Ltd., Class H<sup>(a)(b)</sup> | &nbsp;&nbsp; 595300 | 326434 |
| China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp; 383210 | 1583911 |
| Chongqing Changan Automobile Co. Ltd., Class A | &nbsp;&nbsp; 133700 | 270251 |
| Chongqing Zhifei Biological Products Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 80350 | 315311 |
| Chow Tai Fook Jewellery Group Ltd. | &nbsp;&nbsp; 523600 | 475523 |
| CITIC Ltd. | &nbsp;&nbsp; 1347000 | 1241890 |
| CITIC Securities Co. Ltd., Class A | &nbsp;&nbsp; 224423 | 614969 |
| CITIC Securities Co. Ltd., Class H | &nbsp;&nbsp; 528025 | 794099 |
| CMOC Group Ltd., Class H | &nbsp;&nbsp; 1476000 | 1177197 |
| Contemporary Amperex Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 78500 | 2023292 |
| COSCO Shipping Energy Transportation Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 241200 | 514165 |
| COSCO Shipping Holdings Co. Ltd., Class H | &nbsp;&nbsp; 1170800 | 1672033 |
| Country Garden Holdings Co. Ltd.<sup>(a)(b)(d)</sup> | &nbsp;&nbsp; 201000 | 6174 |
| CRRC Corp. Ltd., Class A | &nbsp;&nbsp; 363300 | 383954 |
| CRRC Corp. Ltd., Class H | &nbsp;&nbsp; 1717000 | 1063926 |
| CSC Financial Co. Ltd., Class A | &nbsp;&nbsp; 116800 | 321555 |
| CSPC Pharmaceutical Group Ltd. | &nbsp;&nbsp; 2235120 | 1662584 |
| Daqin Railway Co. Ltd., Class A | &nbsp;&nbsp; 451100 | 435221 |
| East Money Information Co. Ltd., Class A | &nbsp;&nbsp; 392660 | 605514 |
| Eastroc Beverage Group Co. Ltd. | &nbsp;&nbsp; 10400 | 335880 |
| ENN Energy Holdings Ltd. | &nbsp;&nbsp; 189200 | 1323882 |
| Eoptolink Technology Inc. Ltd. | &nbsp;&nbsp; 15100 | 211410 |
| Far East Horizon Ltd. | &nbsp;&nbsp; 462000 | 315181 |
| Flat Glass Group Co. Ltd., Class H | &nbsp;&nbsp; 262000 | 380219 |
| Foshan Haitian Flavouring & Food Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 125621 | 611221 |
| Fosun International Ltd. | &nbsp;&nbsp; 643500 | 335232 |
| Founder Securities Co. Ltd., Class A | &nbsp;&nbsp; 191900 | 206220 |
| Foxconn Industrial Internet Co. Ltd., Class A | &nbsp;&nbsp; 236200 | 793808 |
| Fuyao Glass Industry Group Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 237200 | 1238698 |
| Ganfeng Lithium Group Co. Ltd., Class A | &nbsp;&nbsp; 29500 | 115001 |
| Ganfeng Lithium Group Co. Ltd., Class H<sup>(b)(c)</sup> | &nbsp;&nbsp; 134840 | 283147 |
| GCL Technology Holdings Ltd. | &nbsp;&nbsp; 5760000 | 810421 |
| GD Power Development Co. Ltd., Class A | &nbsp;&nbsp; 770300 | 592842 |
| Geely Automobile Holdings Ltd. | &nbsp;&nbsp; 1570000 | 1595209 |
| Genscript Biotech Corp.<sup>(a)</sup> | &nbsp;&nbsp; 464000 | 739249 |
| GF Securities Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 566800 | 487264 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Giant Biogene Holding Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 44800 | $232231 |
| Great Wall Motor Co. Ltd., Class H | &nbsp;&nbsp; 725000 | 989899 |
| Gree Electric Appliances Inc. of Zhuhai, Class A | &nbsp;&nbsp; 92300 | 511377 |
| Guangdong Haid Group Co. Ltd., Class A | &nbsp;&nbsp; 69500 | 422620 |
| Guangdong Investment Ltd. | &nbsp;&nbsp; 1022000 | 535945 |
| Guangzhou Automobile Group Co. Ltd., Class H | &nbsp;&nbsp; 1068000 | 393906 |
| Guangzhou Baiyunshan Pharmaceutical Holdings <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 39000 | 158021 |
| Guotai Junan Securities Co. Ltd., Class A | &nbsp;&nbsp; 184200 | 366563 |
| H World Group Ltd., ADR | &nbsp;&nbsp; 50722 | 1521660 |
| Haidilao International Holding Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 529000 | 858005 |
| Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp; 105500 | 398615 |
| Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp; 642200 | 2099618 |
| Haitian International Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 196000 | 568651 |
| Haitong Securities Co. Ltd., Class A | &nbsp;&nbsp; 390300 | 490426 |
| Haitong Securities Co. Ltd., Class H | &nbsp;&nbsp; 892800 | 412795 |
| Hansoh Pharmaceutical Group Co. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 386000 | 844327 |
| Henan Shuanghui Investment & Development Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 92100 | 294111 |
| Hengan International Group Co. Ltd. | &nbsp;&nbsp; 226500 | 707553 |
| Hengli Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 311600 | 602919 |
| Hisense Home Appliances Group Co. Ltd. | &nbsp;&nbsp; 83900 | 345620 |
| Hisense Home Appliances Group Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 11136 | 36002 |
| Hua Hong Semiconductor Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 182000 | 482589 |
| Huaneng Power International Inc., Class H | &nbsp;&nbsp; 1526000 | 906844 |
| Huatai Securities Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 645400 | 714059 |
| Huaxia Bank Co. Ltd., Class A | &nbsp;&nbsp; 351500 | 305511 |
| Hygeia Healthcare Holdings Co. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 143800 | 387437 |
| Hygon Information Technology Co. Ltd., NVS | &nbsp;&nbsp; 57544 | 634127 |
| Iflytek Co. Ltd., Class A | &nbsp;&nbsp; 68700 | 379007 |
| Industrial & Commercial Bank of China Ltd., <br> Class A<br>| &nbsp;&nbsp; 1849791 | 1498054 |
| Industrial & Commercial Bank of China Ltd., <br> Class H<br>| &nbsp;&nbsp; 13241260 | 7335418 |
| Industrial Bank Co. Ltd., Class A | &nbsp;&nbsp; 499800 | 1158918 |
| Inner Mongolia Yili Industrial Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 175100 | 608500 |
| Inner Mongolia Yitai Coal Co. Ltd., Class B | &nbsp;&nbsp; 185900 | 337037 |
| Innovent Biologics Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 351500 | 1740038 |
| iQIYI Inc., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 110637 | 368421 |
| JD Health International Inc.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 317300 | 880681 |
| JD.com Inc. | &nbsp;&nbsp; 538176 | 7096172 |
| Jiangsu Expressway Co. Ltd., Class H | &nbsp;&nbsp; 524000 | 498323 |
| Jiangsu Hengrui Pharmaceuticals Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 161218 | 941667 |
| Jiangsu Yanghe Distillery Co. Ltd., Class A | &nbsp;&nbsp; 27500 | 311432 |
| Jiangxi Copper Co. Ltd., Class H | &nbsp;&nbsp; 375000 | 659227 |
| Kanzhun Ltd., ADR | &nbsp;&nbsp; 57545 | 781461 |
| KE Holdings Inc., ADR | &nbsp;&nbsp; 152484 | 2111903 |
| Kingdee International Software Group Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 809000 | 648309 |
| Kingsoft Corp. Ltd. | &nbsp;&nbsp; 335800 | 951201 |
| Kuaishou Technology<sup>(a)(c)</sup> | &nbsp;&nbsp; 536800 | 3006452 |
| Kunlun Energy Co. Ltd. | &nbsp;&nbsp; 1192000 | 1155515 |
| Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp; 21632 | 4254423 |
| Legend Biotech Corp., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 18110 | 1021223 |
| Lenovo Group Ltd. | &nbsp;&nbsp; 1884000 | 2440175 |
| Lens Technology Co. Ltd., Class A | &nbsp;&nbsp; 168000 | 416117 |
| Li Auto Inc.<sup>(a)</sup> | &nbsp;&nbsp; 297976 | 2914864 |
| Li Ning Co. Ltd. | &nbsp;&nbsp; 635500 | 1183691 |
| Longfor Group Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 555000 | 721005 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| LONGi Green Energy Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 226820 | $455976 |
| Luxshare Precision Industry Co. Ltd., Class A | &nbsp;&nbsp; 151340 | 804104 |
| Luzhou Laojiao Co. Ltd., Class A | &nbsp;&nbsp; 35100 | 635215 |
| Meituan, Class B<sup>(a)(c)</sup> | &nbsp;&nbsp; 1201720 | 16639806 |
| Midea Group Co. Ltd., Class A | &nbsp;&nbsp; 64900 | 572602 |
| MINISO Group Holding Ltd. | &nbsp;&nbsp; 100424 | 419811 |
| MMG Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 660800 | 205101 |
| Muyuan Foods Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 156912 | 949853 |
| NARI Technology Co. Ltd., Class A | &nbsp;&nbsp; 186620 | 620281 |
| NAURA Technology Group Co. Ltd., Class A | &nbsp;&nbsp; 12900 | 612639 |
| NetEase Inc. | &nbsp;&nbsp; 469890 | 8666453 |
| New China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 231500 | 451515 |
| New Hope Liuhe Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 257500 | 337739 |
| New Oriental Education & Technology <br> Group Inc.<sup>(a)</sup><br>| &nbsp;&nbsp; 374430 | 2423551 |
| Ningbo Tuopu Group Co. Ltd., Class A | &nbsp;&nbsp; 44080 | 224029 |
| Ningxia Baofeng Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 304200 | 632537 |
| NIO Inc., ADR<sup>(a)(b)</sup> | &nbsp;&nbsp; 350475 | 1556109 |
| Nongfu Spring Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 445600 | 1731003 |
| Orient Overseas International Ltd. | &nbsp;&nbsp; 40000 | 563319 |
| Orient Securities Co. Ltd., Class A | &nbsp;&nbsp; 285400 | 335916 |
| PDD Holdings Inc., ADR<sup>(a)</sup> | &nbsp;&nbsp; 144570 | 18633627 |
| People's Insurance Co. Group of China Ltd. (The), <br> Class H<br>| &nbsp;&nbsp; 2442000 | 821641 |
| PetroChina Co. Ltd., Class A | &nbsp;&nbsp; 349400 | 433184 |
| PetroChina Co. Ltd., Class H | &nbsp;&nbsp; 5090000 | 4420024 |
| PICC Property & Casualty Co. Ltd., Class H | &nbsp;&nbsp; 1808000 | 2370865 |
| Ping An Bank Co. Ltd., Class A | &nbsp;&nbsp; 333300 | 474264 |
| Ping An Insurance Group Co. of China Ltd., <br> Class A<br>| &nbsp;&nbsp; 221900 | 1307938 |
| Ping An Insurance Group Co. of China Ltd., <br> Class H<br>| &nbsp;&nbsp; 1507000 | 6544326 |
| Poly Developments and Holdings Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 251999 | 307559 |
| Pop Mart International Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 153600 | 814931 |
| Postal Savings Bank of China Co. Ltd., Class A | &nbsp;&nbsp; 824000 | 550841 |
| Postal Savings Bank of China Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 1333000 | 712803 |
| Qifu Technology Inc. | &nbsp;&nbsp; 26692 | 542114 |
| Qinghai Salt Lake Industry Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 160500 | 345522 |
| Rongsheng Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 207500 | 260646 |
| SAIC Motor Corp. Ltd., Class A | &nbsp;&nbsp; 293813 | 597004 |
| Sanan Optoelectronics Co. Ltd., Class A | &nbsp;&nbsp; 178600 | 294630 |
| Sany Heavy Industry Co. Ltd., Class A | &nbsp;&nbsp; 180400 | 403238 |
| SDIC Power Holdings Co. Ltd., Class A | &nbsp;&nbsp; 289200 | 680136 |
| Seres Group Co. Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 26100 | 288300 |
| SF Holding Co. Ltd., Class A | &nbsp;&nbsp; 105100 | 510104 |
| Shaanxi Coal Industry Co. Ltd., Class A | &nbsp;&nbsp; 141500 | 457853 |
| Shandong Gold Mining Co. Ltd., Class A | &nbsp;&nbsp; 101400 | 415025 |
| Shandong Gold Mining Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 262250 | 543376 |
| Shandong Weigao Group Medical Polymer Co. <br> Ltd., Class H<br>| &nbsp;&nbsp; 701200 | 355810 |
| Shanghai Baosight Software Co. Ltd., Class B | &nbsp;&nbsp; 198960 | 325572 |
| Shanghai Electric Group Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 414500 | 222123 |
| Shanghai Fosun Pharmaceutical Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 120100 | 391796 |
| Shanghai Pharmaceuticals Holding Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 355800 | 533527 |
| Shanghai Pudong Development Bank Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 519365 | 604230 |
| Shanghai Rural Commercial Bank Co. Ltd. | &nbsp;&nbsp; 169800 | 156497 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Shanghai United Imaging Healthcare Co. <br> Ltd., NVS<br>| &nbsp;&nbsp; 20344 | $327336 |
| Shanxi Xinghuacun Fen Wine Factory Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 32100 | 819021 |
| Shenwan Hongyuan Group Co. Ltd., Class A | &nbsp;&nbsp; 992700 | 629659 |
| Shenzhen Inovance Technology Co. Ltd., Class A | &nbsp;&nbsp; 25300 | 163244 |
| Shenzhen Mindray Bio-Medical Electronics Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 29900 | 1065114 |
| Shenzhen Transsion Holdings Co. Ltd., Class A | &nbsp;&nbsp; 19040 | 213338 |
| Shenzhou International Group Holdings Ltd. | &nbsp;&nbsp; 206900 | 1751508 |
| Sichuan Chuantou Energy Co. Ltd., Class A | &nbsp;&nbsp; 185100 | 479897 |
| Sichuan Kelun Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp; 45900 | 190764 |
| Sino Biopharmaceutical Ltd. | &nbsp;&nbsp; 2916000 | 1045675 |
| Sinopharm Group Co. Ltd., Class H | &nbsp;&nbsp; 450800 | 1057371 |
| Sinotruk Hong Kong Ltd. | &nbsp;&nbsp; 143000 | 376130 |
| Smoore International Holdings Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 536000 | 625821 |
| Sungrow Power Supply Co. Ltd., Class A | &nbsp;&nbsp; 33880 | 323508 |
| Sunny Optical Technology Group Co. Ltd. | &nbsp;&nbsp; 180200 | 1010580 |
| TAL Education Group, ADR<sup>(a)</sup> | &nbsp;&nbsp; 105117 | 1053272 |
| TBEA Co. Ltd., Class A | &nbsp;&nbsp; 286200 | 536768 |
| Tencent Holdings Ltd. | &nbsp;&nbsp; 1595400 | 73622054 |
| Tencent Music Entertainment Group, ADR | &nbsp;&nbsp; 179763 | 2549039 |
| Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp; 502000 | 612086 |
| Tongcheng Travel Holdings Ltd. | &nbsp;&nbsp; 436400 | 759795 |
| Topsports International Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 512000 | 228055 |
| TravelSky Technology Ltd., Class H | &nbsp;&nbsp; 444000 | 500536 |
| Trip.com Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 126526 | 5401608 |
| Tsingtao Brewery Co. Ltd., Class A | &nbsp;&nbsp; 24400 | 232029 |
| Tsingtao Brewery Co. Ltd., Class H | &nbsp;&nbsp; 62000 | 396093 |
| Vipshop Holdings Ltd., ADR | &nbsp;&nbsp; 90092 | 1228855 |
| Wanhua Chemical Group Co. Ltd., Class A | &nbsp;&nbsp; 83653 | 898231 |
| Want Want China Holdings Ltd. | &nbsp;&nbsp; 1672000 | 1003690 |
| Weichai Power Co. Ltd., Class H | &nbsp;&nbsp; 649000 | 1038690 |
| Wens Foodstuffs Group Co. Ltd., Class A | &nbsp;&nbsp; 221416 | 611137 |
| Will Semiconductor Co. Ltd. Shanghai, Class A | &nbsp;&nbsp; 26900 | 383901 |
| Wuliangye Yibin Co. Ltd., Class A | &nbsp;&nbsp; 80200 | 1409588 |
| WuXi AppTec Co. Ltd., Class A | &nbsp;&nbsp; 46559 | 273865 |
| WuXi AppTec Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 44912 | 183722 |
| Wuxi Biologics Cayman Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 939000 | 1373433 |
| XCMG Construction Machinery Co. Ltd., Class A | &nbsp;&nbsp; 448500 | 407145 |
| Xiaomi Corp., Class B<sup>(a)(c)</sup> | &nbsp;&nbsp; 3642200 | 7822826 |
| Xinjiang Daqo New Energy Co. Ltd. | &nbsp;&nbsp; 78600 | 220863 |
| Xinyi Solar Holdings Ltd. | &nbsp;&nbsp; 1544000 | 732595 |
| XPeng Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 257434 | 1040557 |
| Yadea Group Holdings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 446000 | 601070 |
| Yankuang Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 99610 | 206823 |
| Yankuang Energy Group Co. Ltd., Class H | &nbsp;&nbsp; 717600 | 936691 |
| Yihai Kerry Arawana Holdings Co. Ltd., Class A | &nbsp;&nbsp; 49969 | 189437 |
| Yum China Holdings Inc. | &nbsp;&nbsp; 90106 | 2724805 |
| Yunnan Baiyao Group Co. Ltd., Class A | &nbsp;&nbsp; 82500 | 576988 |
| Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 21692 | 638642 |
| Zhaojin Mining Industry Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 444500 | 796909 |
| Zhejiang Expressway Co. Ltd., Class H | &nbsp;&nbsp; 728640 | 478146 |
| Zhejiang Juhua Co. Ltd., Class A | &nbsp;&nbsp; 68200 | 186867 |
| Zhejiang Leapmotor Technology Co. Ltd.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 138300 | 441708 |
| Zhejiang NHU Co. Ltd., Class A | &nbsp;&nbsp; 108200 | 312974 |
| Zhongji Innolight Co. Ltd., Class A | &nbsp;&nbsp; 19600 | 356997 |
| Zhongjin Gold Corp. Ltd., Class A | &nbsp;&nbsp; 185300 | 414479 |
| Zhongsheng Group Holdings Ltd. | &nbsp;&nbsp; 187000 | 291768 |
| Zhuzhou CRRC Times Electric Co. Ltd. | &nbsp;&nbsp; 216100 | 797523 |
| Zijin Mining Group Co. Ltd., Class A | &nbsp;&nbsp; 101500 | 234198 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Zijin Mining Group Co. Ltd., Class H | &nbsp;&nbsp; 1624000 | $3294065 |
| Zoomlion Heavy Industry Science and Technology <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 402000 | 374704 |
| ZTE Corp., Class H | &nbsp;&nbsp; 243600 | 545682 |
| ZTO Express Cayman Inc., ADR | &nbsp;&nbsp; 95045 | 1801103 |
|  |  | 453458561 |
| **Colombia — 0.0%** | **Colombia — 0.0%** | **Colombia — 0.0%** |
| Interconexion Electrica SA ESP | &nbsp;&nbsp; 26649 | 115121 |
| **Czech Republic — 0.0%** | **Czech Republic — 0.0%** | **Czech Republic — 0.0%** |
| CEZ AS | &nbsp;&nbsp; 44423 | 1710679 |
| Komercni Banka AS | &nbsp;&nbsp; 21941 | 758020 |
|  |  | 2468699 |
| **Denmark — 0.9%** | **Denmark — 0.9%** | **Denmark — 0.9%** |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 806 | 1309295 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 1112 | 1839624 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 22453 | 2711356 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 31383 | 4079806 |
| Danske Bank A/S | &nbsp;&nbsp; 163676 | 5005619 |
| Demant A/S<sup>(a)</sup> | &nbsp;&nbsp; 24815 | 951393 |
| DSV A/S | &nbsp;&nbsp; 41958 | 7696969 |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 15876 | 4484519 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 791603 | 104881765 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 89551 | 5700568 |
| Orsted A/S<sup>(a)(c)</sup> | &nbsp;&nbsp; 48657 | 2900152 |
| Pandora A/S | &nbsp;&nbsp; 21944 | 3439795 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 1927 | 851758 |
| Tryg A/S | &nbsp;&nbsp; 93139 | 2039195 |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 237895 | 5887196 |
|  |  | 153779010 |
| **Egypt — 0.0%** | **Egypt — 0.0%** | **Egypt — 0.0%** |
| Commercial International Bank - Egypt (CIB) | &nbsp;&nbsp; 636678 | 1092029 |
| Talaat Moustafa Group | &nbsp;&nbsp; 191013 | 221262 |
|  |  | 1313291 |
| **Finland — 0.2%** | **Finland — 0.2%** | **Finland — 0.2%** |
| Elisa OYJ | &nbsp;&nbsp; 28418 | 1323182 |
| Fortum OYJ | &nbsp;&nbsp; 108090 | 1662098 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 64376 | 1164478 |
| Kone OYJ, Class B | &nbsp;&nbsp; 78447 | 4005863 |
| Metso OYJ | &nbsp;&nbsp; 144271 | 1465870 |
| Neste OYJ | &nbsp;&nbsp; 102054 | 2059738 |
| Nokia OYJ | &nbsp;&nbsp; 1282794 | 5041253 |
| Nordea Bank Abp | &nbsp;&nbsp; 793085 | 9280471 |
| Orion OYJ, Class B | &nbsp;&nbsp; 27418 | 1260218 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 108651 | 4762727 |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 151325 | 1891731 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 129327 | 4277622 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 131192 | 2711061 |
|  |  | 40906312 |
| **France — 2.5%** | **France — 2.5%** | **France — 2.5%** |
| Accor SA | &nbsp;&nbsp; 46929 | 1805974 |
| Aeroports de Paris SA | &nbsp;&nbsp; 5652 | 742595 |
| Air Liquide SA | &nbsp;&nbsp; 135229 | 24673677 |
| Airbus SE | &nbsp;&nbsp; 139313 | 21081761 |
| Alstom SA<sup>(a)</sup> | &nbsp;&nbsp; 93250 | 1827010 |
| Amundi SA<sup>(c)</sup> | &nbsp;&nbsp; 12544 | 915470 |
| ArcelorMittal SA | &nbsp;&nbsp; 108951 | 2480889 |
| Arkema SA | &nbsp;&nbsp; 12406 | 1119553 |
| AXA SA | &nbsp;&nbsp; 439912 | 15445223 |
| BioMerieux | &nbsp;&nbsp; 10445 | 1102224 |
| BNP Paribas SA | &nbsp;&nbsp; 250593 | 17169058 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Bollore SE | &nbsp;&nbsp; 216112 | $1345262 |
| Bouygues SA | &nbsp;&nbsp; 54624 | 1885948 |
| Bureau Veritas SA | &nbsp;&nbsp; 90370 | 2827606 |
| Capgemini SE | &nbsp;&nbsp; 40513 | 8042780 |
| Carrefour SA | &nbsp;&nbsp; 145564 | 2171412 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 111105 | 9531224 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 174629 | 6913359 |
| Covivio SA/France | &nbsp;&nbsp; 9045 | 465611 |
| Credit Agricole SA | &nbsp;&nbsp; 258951 | 3929701 |
| Danone SA | &nbsp;&nbsp; 153365 | 9963364 |
| Dassault Aviation SA | &nbsp;&nbsp; 6070 | 1222097 |
| Dassault Systemes SE | &nbsp;&nbsp; 160998 | 6103235 |
| Edenred SE | &nbsp;&nbsp; 64394 | 2681287 |
| Eiffage SA | &nbsp;&nbsp; 21224 | 2112249 |
| Engie SA | &nbsp;&nbsp; 424788 | 6677736 |
| EssilorLuxottica SA | &nbsp;&nbsp; 68502 | 15675974 |
| Eurazeo SE | &nbsp;&nbsp; 5745 | 451989 |
| Eurofins Scientific SE | &nbsp;&nbsp; 29393 | 1740179 |
| Euronext NV<sup>(c)</sup> | &nbsp;&nbsp; 15659 | 1583171 |
| Gecina SA | &nbsp;&nbsp; 12822 | 1271144 |
| Getlink SE | &nbsp;&nbsp; 87146 | 1552929 |
| Hermes International SCA | &nbsp;&nbsp; 7577 | 16558280 |
| Ipsen SA | &nbsp;&nbsp; 10773 | 1209594 |
| Kering SA | &nbsp;&nbsp; 17511 | 5378289 |
| Klepierre SA | &nbsp;&nbsp; 40707 | 1165627 |
| La Francaise des Jeux SAEM<sup>(c)</sup> | &nbsp;&nbsp; 24748 | 960191 |
| Legrand SA | &nbsp;&nbsp; 66590 | 7194844 |
| L'Oreal SA | &nbsp;&nbsp; 56854 | 24586367 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 66309 | 46771862 |
| Orange SA | &nbsp;&nbsp; 419922 | 4659986 |
| Pernod Ricard SA | &nbsp;&nbsp; 50123 | 6706815 |
| Publicis Groupe SA | &nbsp;&nbsp; 56877 | 5937756 |
| Remy Cointreau SA | &nbsp;&nbsp; 4015 | 316806 |
| Renault SA | &nbsp;&nbsp; 50157 | 2430715 |
| Rexel SA | &nbsp;&nbsp; 39582 | 1005656 |
| Safran SA | &nbsp;&nbsp; 81593 | 17925381 |
| Sanofi SA | &nbsp;&nbsp; 272105 | 28051978 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 6956 | 1388074 |
| Schneider Electric SE | &nbsp;&nbsp; 128644 | 31007728 |
| SEB SA | &nbsp;&nbsp; 5107 | 511047 |
| Societe Generale SA | &nbsp;&nbsp; 174262 | 4519827 |
| Sodexo SA | &nbsp;&nbsp; 21726 | 2057611 |
| STMicroelectronics NV | &nbsp;&nbsp; 158732 | 5248130 |
| Teleperformance SE | &nbsp;&nbsp; 15013 | 1932704 |
| Thales SA | &nbsp;&nbsp; 25754 | 4093687 |
| TotalEnergies SE | &nbsp;&nbsp; 535140 | 36103911 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 31412 | 2349028 |
| Veolia Environnement SA | &nbsp;&nbsp; 164987 | 5182853 |
| Vinci SA | &nbsp;&nbsp; 125911 | 14368703 |
| Vivendi SE | &nbsp;&nbsp; 175270 | 1870263 |
|  |  | 458005404 |
| **Germany — 1.9%** | **Germany — 1.9%** | **Germany — 1.9%** |
| adidas AG | &nbsp;&nbsp; 39225 | 9829677 |
| Allianz SE, Registered | &nbsp;&nbsp; 95208 | 26816798 |
| BASF SE | &nbsp;&nbsp; 220741 | 10277069 |
| Bayer AG, Registered | &nbsp;&nbsp; 232562 | 6918879 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 74501 | 6909902 |
| Bechtle AG | &nbsp;&nbsp; 22648 | 1000896 |
| Beiersdorf AG | &nbsp;&nbsp; 23202 | 3367701 |
| Brenntag SE | &nbsp;&nbsp; 32136 | 2286037 |
| Carl Zeiss Meditec AG, Bearer | &nbsp;&nbsp; 10826 | 740656 |
| Commerzbank AG | &nbsp;&nbsp; 248303 | 4047953 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Continental AG | &nbsp;&nbsp; 25016 | $1533576 |
| Covestro AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 49295 | 2901939 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 13982 | 1231587 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 128190 | 4949281 |
| Delivery Hero SE, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 47240 | 1051004 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 469357 | 7305764 |
| Deutsche Boerse AG | &nbsp;&nbsp; 45310 | 9278058 |
| Deutsche Lufthansa AG, Registered | &nbsp;&nbsp; 160845 | 1007981 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 236353 | 10542651 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 773697 | 20237966 |
| E.ON SE | &nbsp;&nbsp; 541296 | 7590658 |
| Evonik Industries AG | &nbsp;&nbsp; 54246 | 1098574 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 51322 | 1980406 |
| Fresenius SE & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 100415 | 3597945 |
| GEA Group AG | &nbsp;&nbsp; 45513 | 2009648 |
| Hannover Rueck SE | &nbsp;&nbsp; 16576 | 4115664 |
| Heidelberg Materials AG | &nbsp;&nbsp; 32618 | 3398116 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 26306 | 2038265 |
| Infineon Technologies AG | &nbsp;&nbsp; 315926 | 10974681 |
| Knorr-Bremse AG | &nbsp;&nbsp; 16743 | 1346402 |
| LEG Immobilien SE | &nbsp;&nbsp; 17079 | 1489826 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 193566 | 12795569 |
| Merck KGaA | &nbsp;&nbsp; 31822 | 5685709 |
| MTU Aero Engines AG | &nbsp;&nbsp; 13451 | 3808834 |
| Muenchener Rueckversicherungs-Gesellschaft AG <br> in Muenchen, Registered<br>| &nbsp;&nbsp; 32690 | 16100634 |
| Nemetschek SE | &nbsp;&nbsp; 16091 | 1536950 |
| Puma SE | &nbsp;&nbsp; 29122 | 1445124 |
| Qiagen NV, NVS | &nbsp;&nbsp; 53169 | 2365698 |
| Rational AG | &nbsp;&nbsp; 1343 | 1175631 |
| Rheinmetall AG | &nbsp;&nbsp; 10594 | 5770089 |
| RWE AG | &nbsp;&nbsp; 147049 | 5488001 |
| SAP SE | &nbsp;&nbsp; 253700 | 53637314 |
| Scout24 SE<sup>(c)</sup> | &nbsp;&nbsp; 21252 | 1680128 |
| Siemens AG, Registered | &nbsp;&nbsp; 184244 | 33734521 |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 144865 | 4206668 |
| Siemens Healthineers AG<sup>(c)</sup> | &nbsp;&nbsp; 69024 | 3699625 |
| Symrise AG, Class A | &nbsp;&nbsp; 34295 | 4322246 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 14789 | 1123541 |
| Volkswagen AG | &nbsp;&nbsp; 5097 | 601390 |
| Vonovia SE | &nbsp;&nbsp; 177077 | 5429216 |
| Zalando SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 50505 | 1294154 |
|  |  | 337776602 |
| **Greece — 0.1%** | **Greece — 0.1%** | **Greece — 0.1%** |
| Alpha Services and Holdings SA | &nbsp;&nbsp; 635608 | 1172753 |
| Eurobank Ergasias Services and Holdings SA, <br> Class A<br>| &nbsp;&nbsp; 733696 | 1681095 |
| Hellenic Telecommunications Organization SA | &nbsp;&nbsp; 56482 | 927985 |
| Jumbo SA | &nbsp;&nbsp; 35297 | 945836 |
| Metlen Energy & Metals SA | &nbsp;&nbsp; 25139 | 993480 |
| National Bank of Greece SA | &nbsp;&nbsp; 143659 | 1260902 |
| OPAP SA | &nbsp;&nbsp; 53509 | 932932 |
| Piraeus Financial Holdings SA | &nbsp;&nbsp; 230295 | 972987 |
| Public Power Corp. SA | &nbsp;&nbsp; 57244 | 729250 |
|  |  | 9617220 |
| **Hong Kong — 0.4%** | **Hong Kong — 0.4%** | **Hong Kong — 0.4%** |
| AIA Group Ltd. | &nbsp;&nbsp; 2742400 | 18343517 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 847500 | 2465650 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 453016 | 1731006 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 685016 | 3578598 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 153500 | 1023806 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| CLP Holdings Ltd. | &nbsp;&nbsp; 399500 | $3428755 |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 14972 | 947428 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 575000 | 2417255 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 180900 | 2215270 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 299003 | 839846 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 910000 | 1102158 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 2542040 | 2071439 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 326900 | 9642576 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 365600 | 1180746 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 41800 | 1472569 |
| Link REIT | &nbsp;&nbsp; 593360 | 2503398 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 405000 | 1310213 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 372000 | 2370931 |
| Sands China Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 639200 | 1198266 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 988000 | 1021946 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 441000 | 984214 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 381000 | 3298897 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 142500 | 1229315 |
| Swire Properties Ltd. | &nbsp;&nbsp; 195800 | 309233 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 362000 | 4636022 |
| WH Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1882000 | 1223382 |
| Wharf Holdings Ltd. (The)<sup>(b)</sup> | &nbsp;&nbsp; 278000 | 762234 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 476200 | 1170699 |
|  |  | 74479369 |
| **Hungary — 0.0%** | **Hungary — 0.0%** | **Hungary — 0.0%** |
| MOL Hungarian Oil & Gas PLC | &nbsp;&nbsp; 119126 | 928528 |
| OTP Bank Nyrt | &nbsp;&nbsp; 61785 | 3167195 |
| Richter Gedeon Nyrt | &nbsp;&nbsp; 25206 | 718584 |
|  |  | 4814307 |
| **India — 2.0%** | **India — 2.0%** | **India — 2.0%** |
| ABB India Ltd. | &nbsp;&nbsp; 12142 | 1147488 |
| Adani Enterprises Ltd. | &nbsp;&nbsp; 39034 | 1481369 |
| Adani Green Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 73317 | 1622018 |
| Adani Ports & Special Economic Zone Ltd. | &nbsp;&nbsp; 120042 | 2257448 |
| Adani Power Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 192430 | 1693159 |
| Ambuja Cements Ltd. | &nbsp;&nbsp; 166959 | 1358104 |
| APL Apollo Tubes Ltd. | &nbsp;&nbsp; 44160 | 785088 |
| Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp; 26948 | 2133617 |
| Ashok Leyland Ltd. | &nbsp;&nbsp; 156106 | 480435 |
| Asian Paints Ltd. | &nbsp;&nbsp; 102767 | 3792906 |
| Astral Ltd. | &nbsp;&nbsp; 24610 | 644265 |
| AU Small Finance Bank Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 49275 | 380884 |
| Aurobindo Pharma Ltd. | &nbsp;&nbsp; 80474 | 1380950 |
| Avenue Supermarts Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 37073 | 2187382 |
| Axis Bank Ltd. | &nbsp;&nbsp; 648405 | 9057765 |
| Bajaj Auto Ltd. | &nbsp;&nbsp; 17736 | 2049133 |
| Bajaj Finance Ltd. | &nbsp;&nbsp; 67447 | 5496042 |
| Bajaj Finserv Ltd. | &nbsp;&nbsp; 107056 | 2116587 |
| Balkrishna Industries Ltd. | &nbsp;&nbsp; 11631 | 462495 |
| Bandhan Bank Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 184727 | 482375 |
| Bank of Baroda | &nbsp;&nbsp; 195520 | 593523 |
| Bharat Electronics Ltd. | &nbsp;&nbsp; 879902 | 3329451 |
| Bharat Forge Ltd. | &nbsp;&nbsp; 71325 | 1480253 |
| Bharat Heavy Electricals Ltd. | &nbsp;&nbsp; 293479 | 1110259 |
| Bharat Petroleum Corp. Ltd. | &nbsp;&nbsp; 417037 | 1749251 |
| Bharti Airtel Ltd. | &nbsp;&nbsp; 581533 | 10388457 |
| Bosch Ltd. | &nbsp;&nbsp; 1800 | 752815 |
| Britannia Industries Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 27231 | 1882948 |
| CG Power and Industrial Solutions Ltd. | &nbsp;&nbsp; 169196 | 1491118 |
| Cholamandalam Investment and Finance Co. Ltd. | &nbsp;&nbsp; 110524 | 1872669 |
| Cipla Ltd. | &nbsp;&nbsp; 120962 | 2235134 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Coal India Ltd. | &nbsp;&nbsp; 340252 | $2128240 |
| Colgate-Palmolive India Ltd. | &nbsp;&nbsp; 32670 | 1333273 |
| Container Corp. of India Ltd. | &nbsp;&nbsp; 74384 | 927156 |
| Cummins India Ltd. | &nbsp;&nbsp; 31387 | 1447174 |
| Dabur India Ltd. | &nbsp;&nbsp; 149060 | 1133276 |
| Divi's Laboratories Ltd. | &nbsp;&nbsp; 34638 | 2039028 |
| DLF Ltd. | &nbsp;&nbsp; 171822 | 1829287 |
| Dr. Reddy's Laboratories Ltd. | &nbsp;&nbsp; 30607 | 2471496 |
| Eicher Motors Ltd. | &nbsp;&nbsp; 35742 | 2122507 |
| GAIL India Ltd. | &nbsp;&nbsp; 598901 | 1727380 |
| GMR Airports Infrastructure Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 684743 | 834481 |
| Godrej Consumer Products Ltd. | &nbsp;&nbsp; 92910 | 1602198 |
| Godrej Properties Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 30995 | 1194853 |
| Grasim Industries Ltd. | &nbsp;&nbsp; 68458 | 2273758 |
| Havells India Ltd. | &nbsp;&nbsp; 75134 | 1661694 |
| HCL Technologies Ltd. | &nbsp;&nbsp; 254789 | 5013465 |
| HDFC Asset Management Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 15519 | 763690 |
| HDFC Bank Ltd. | &nbsp;&nbsp; 691618 | 13365004 |
| HDFC Life Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 224116 | 1918830 |
| Hero MotoCorp Ltd. | &nbsp;&nbsp; 29042 | 1907991 |
| Hindalco Industries Ltd. | &nbsp;&nbsp; 338285 | 2713559 |
| Hindustan Aeronautics Ltd., NVS | &nbsp;&nbsp; 45430 | 2677288 |
| Hindustan Petroleum Corp. Ltd. | &nbsp;&nbsp; 206830 | 972337 |
| Hindustan Unilever Ltd. | &nbsp;&nbsp; 197391 | 6386086 |
| ICICI Bank Ltd. | &nbsp;&nbsp; 1326592 | 19337020 |
| ICICI Lombard General Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 61043 | 1466837 |
| ICICI Prudential Life Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 42762 | 376749 |
| IDFC First Bank Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 927687 | 844158 |
| Indian Hotels Co. Ltd., Class A | &nbsp;&nbsp; 198109 | 1522404 |
| Indian Oil Corp. Ltd. | &nbsp;&nbsp; 663458 | 1445782 |
| Indian Railway Catering & Tourism Corp. Ltd. | &nbsp;&nbsp; 69841 | 825934 |
| Indus Towers Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 194551 | 1008517 |
| IndusInd Bank Ltd. | &nbsp;&nbsp; 76230 | 1302946 |
| Info Edge India Ltd. | &nbsp;&nbsp; 20855 | 1753770 |
| Infosys Ltd. | &nbsp;&nbsp; 793498 | 17595663 |
| InterGlobe Aviation Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 38949 | 2082838 |
| ITC Ltd. | &nbsp;&nbsp; 778150 | 4613395 |
| Jindal Stainless Ltd. | &nbsp;&nbsp; 62207 | 551560 |
| Jindal Steel & Power Ltd. | &nbsp;&nbsp; 77498 | 917727 |
| Jio Financial Services Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 719190 | 2832019 |
| JSW Energy Ltd. | &nbsp;&nbsp; 84095 | 733416 |
| JSW Steel Ltd. | &nbsp;&nbsp; 176827 | 1965345 |
| Jubilant Foodworks Ltd. | &nbsp;&nbsp; 118201 | 847222 |
| Kotak Mahindra Bank Ltd. | &nbsp;&nbsp; 257188 | 5571707 |
| Larsen & Toubro Ltd. | &nbsp;&nbsp; 157724 | 7202840 |
| LTIMindtree Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 27034 | 1831592 |
| Lupin Ltd. | &nbsp;&nbsp; 69273 | 1585200 |
| Macrotech Developers Ltd. | &nbsp;&nbsp; 60153 | 941969 |
| Mahindra & Mahindra Ltd. | &nbsp;&nbsp; 227675 | 7925471 |
| Mankind Pharma Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 24128 | 585569 |
| Marico Ltd. | &nbsp;&nbsp; 148901 | 1200655 |
| Maruti Suzuki India Ltd. | &nbsp;&nbsp; 32486 | 5097168 |
| Max Healthcare Institute Ltd. | &nbsp;&nbsp; 191243 | 2111903 |
| Mphasis Ltd. | &nbsp;&nbsp; 11689 | 405178 |
| MRF Ltd. | &nbsp;&nbsp; 374 | 635983 |
| Nestle India Ltd., NVS | &nbsp;&nbsp; 71379 | 2097545 |
| NHPC Ltd., NVS | &nbsp;&nbsp; 724775 | 912397 |
| NMDC Ltd. | &nbsp;&nbsp; 286877 | 830623 |
| NTPC Ltd. | &nbsp;&nbsp; 937855 | 4670263 |
| Oil & Natural Gas Corp. Ltd. | &nbsp;&nbsp; 835812 | 3339050 |
| Page Industries Ltd. | &nbsp;&nbsp; 1783 | 904213 |
| PB Fintech Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 61000 | 1061197 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Persistent Systems Ltd., NVS | &nbsp;&nbsp; 23476 | $1358386 |
| Petronet LNG Ltd. | &nbsp;&nbsp; 116014 | 511610 |
| Phoenix Mills Ltd. (The) | &nbsp;&nbsp; 23726 | 1021049 |
| PI Industries Ltd. | &nbsp;&nbsp; 23399 | 1240046 |
| Pidilite Industries Ltd. | &nbsp;&nbsp; 39340 | 1498064 |
| Polycab India Ltd. | &nbsp;&nbsp; 11997 | 985645 |
| Power Finance Corp. Ltd. | &nbsp;&nbsp; 347493 | 2319561 |
| Power Grid Corp. of India Ltd. | &nbsp;&nbsp; 1107273 | 4612000 |
| Punjab National Bank | &nbsp;&nbsp; 599907 | 891281 |
| REC Ltd. | &nbsp;&nbsp; 310876 | 2401421 |
| Reliance Industries Ltd. | &nbsp;&nbsp; 730958 | 26352804 |
| Samvardhana Motherson International Ltd. | &nbsp;&nbsp; 598186 | 1408086 |
| SBI Life Insurance Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 110314 | 2315102 |
| Shree Cement Ltd. | &nbsp;&nbsp; 2849 | 945317 |
| Shriram Finance Ltd. | &nbsp;&nbsp; 65385 | 2293950 |
| Siemens Ltd. | &nbsp;&nbsp; 22438 | 1915923 |
| Solar Industries India Ltd. | &nbsp;&nbsp; 6563 | 848595 |
| Sona Blw Precision Forgings Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 90117 | 732087 |
| SRF Ltd. | &nbsp;&nbsp; 40714 | 1288756 |
| State Bank of India | &nbsp;&nbsp; 454439 | 4751034 |
| Sun Pharmaceutical Industries Ltd. | &nbsp;&nbsp; 226676 | 4662260 |
| Sundaram Finance Ltd. | &nbsp;&nbsp; 5625 | 291055 |
| Supreme Industries Ltd. | &nbsp;&nbsp; 16086 | 1030872 |
| Suzlon Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2293787 | 1907480 |
| Tata Communications Ltd. | &nbsp;&nbsp; 27944 | 665591 |
| Tata Consultancy Services Ltd. | &nbsp;&nbsp; 217380 | 11414776 |
| Tata Consumer Products Ltd. | &nbsp;&nbsp; 155416 | 2211382 |
| Tata Elxsi Ltd. | &nbsp;&nbsp; 10900 | 911135 |
| Tata Motors Ltd. | &nbsp;&nbsp; 446590 | 6185063 |
| Tata Motors Ltd. | &nbsp;&nbsp; 53122 | 504870 |
| Tata Power Co. Ltd. (The) | &nbsp;&nbsp; 358015 | 1944213 |
| Tata Steel Ltd. | &nbsp;&nbsp; 1776544 | 3517359 |
| Tech Mahindra Ltd. | &nbsp;&nbsp; 157653 | 2936643 |
| Thermax Ltd. | &nbsp;&nbsp; 10076 | 611645 |
| Titan Co. Ltd. | &nbsp;&nbsp; 86273 | 3572681 |
| Torrent Pharmaceuticals Ltd. | &nbsp;&nbsp; 11320 | 429627 |
| Torrent Power Ltd. | &nbsp;&nbsp; 40484 | 903955 |
| Trent Ltd. | &nbsp;&nbsp; 54346 | 3798160 |
| Tube Investments of India Ltd. | &nbsp;&nbsp; 28825 | 1427092 |
| TVS Motor Co. Ltd. | &nbsp;&nbsp; 109790 | 3325103 |
| UltraTech Cement Ltd. | &nbsp;&nbsp; 24340 | 3460727 |
| Union Bank of India Ltd. | &nbsp;&nbsp; 389228 | 629158 |
| United Spirits Ltd. | &nbsp;&nbsp; 35370 | 598297 |
| UPL Ltd. | &nbsp;&nbsp; 147310 | 1008519 |
| Varun Beverages Ltd. | &nbsp;&nbsp; 116536 | 2198648 |
| Vedanta Ltd. | &nbsp;&nbsp; 269727 | 1455036 |
| Wipro Ltd. | &nbsp;&nbsp; 306660 | 1913684 |
| Yes Bank Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4325549 | 1373656 |
| Zomato Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1487161 | 4089704 |
|  |  | 367942372 |
| **Indonesia — 0.2%** | **Indonesia — 0.2%** | **Indonesia — 0.2%** |
| Adaro Energy Indonesia Tbk PT | &nbsp;&nbsp; 4744900 | 939642 |
| Amman Mineral Internasional PT<sup>(a)</sup> | &nbsp;&nbsp; 1738500 | 1265741 |
| Aneka Tambang Tbk | &nbsp;&nbsp; 2156100 | 174632 |
| Astra International Tbk PT | &nbsp;&nbsp; 5810900 | 1689183 |
| Bank Central Asia Tbk PT | &nbsp;&nbsp; 13630700 | 8613496 |
| Bank Mandiri Persero Tbk PT | &nbsp;&nbsp; 8143828 | 3211838 |
| Bank Negara Indonesia Persero Tbk PT | &nbsp;&nbsp; 4308676 | 1319631 |
| Bank Rakyat Indonesia Persero Tbk PT | &nbsp;&nbsp; 16291230 | 4687640 |
| Barito Pacific Tbk PT | &nbsp;&nbsp; 7636064 | 513351 |
| Chandra Asri Pacific Tbk PT | &nbsp;&nbsp; 1877841 | 1114463 |
| Charoen Pokphand Indonesia Tbk PT | &nbsp;&nbsp; 2389745 | 767922 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Indonesia (continued)** | **Indonesia (continued)** | **Indonesia (continued)** |
| GoTo Gojek Tokopedia Tbk PT<sup>(a)</sup> | &nbsp;&nbsp; 212241300 | $694544 |
| Indah Kiat Pulp & Paper Tbk PT | &nbsp;&nbsp; 682500 | 351029 |
| Indofood Sukses Makmur Tbk PT | &nbsp;&nbsp; 1754300 | 660830 |
| Kalbe Farma Tbk PT | &nbsp;&nbsp; 6437900 | 629536 |
| Merdeka Copper Gold Tbk PT<sup>(a)</sup> | &nbsp;&nbsp; 2987632 | 453027 |
| Sumber Alfaria Trijaya Tbk PT | &nbsp;&nbsp; 5838000 | 1019675 |
| Telkom Indonesia Persero Tbk PT | &nbsp;&nbsp; 10195800 | 1810819 |
| Unilever Indonesia Tbk PT | &nbsp;&nbsp; 2250900 | 337998 |
| United Tractors Tbk PT | &nbsp;&nbsp; 455306 | 722441 |
|  |  | 30977438 |
| **Ireland — 0.2%** | **Ireland — 0.2%** | **Ireland — 0.2%** |
| AIB Group PLC | &nbsp;&nbsp; 194648 | 1116517 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 183360 | 2076540 |
| CRH PLC | &nbsp;&nbsp; 177801 | 15237546 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 45260 | 4231617 |
| Kingspan Group PLC | &nbsp;&nbsp; 31437 | 2941377 |
| Smurfit WestRock PLC<sup>(a)</sup> | &nbsp;&nbsp; 80875 | 3587966 |
| Smurfit WestRock PLC | &nbsp;&nbsp; 63797 | 2860658 |
|  |  | 32052221 |
| **Israel — 0.2%** | **Israel — 0.2%** | **Israel — 0.2%** |
| Azrieli Group Ltd. | &nbsp;&nbsp; 10219 | 627216 |
| Bank Hapoalim BM | &nbsp;&nbsp; 323083 | 2964718 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 337839 | 2911324 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 21826 | 4003980 |
| CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 11195 | 2870174 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 8179 | 1463919 |
| Global-e Online Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 25136 | 862668 |
| ICL Group Ltd. | &nbsp;&nbsp; 233952 | 979341 |
| Isracard Ltd. | &nbsp;&nbsp; 1 | 3 |
| Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 262493 | 1340030 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 47323 | 1707710 |
| Monday.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 8884 | 2041632 |
| Nice Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 15237 | 2750112 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 260547 | 4541334 |
| Wix.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 13850 | 2159561 |
|  |  | 31223722 |
| **Italy — 0.6%** | **Italy — 0.6%** | **Italy — 0.6%** |
| Amplifon SpA | &nbsp;&nbsp; 30525 | 969486 |
| Banco BPM SpA | &nbsp;&nbsp; 264743 | 1832993 |
| Davide Campari-Milano NV | &nbsp;&nbsp; 168350 | 1518260 |
| DiaSorin SpA | &nbsp;&nbsp; 6732 | 734265 |
| Enel SpA | &nbsp;&nbsp; 1848982 | 13200204 |
| Eni SpA | &nbsp;&nbsp; 546042 | 8736558 |
| Ferrari NV | &nbsp;&nbsp; 30654 | 12616346 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 126264 | 2143485 |
| Generali | &nbsp;&nbsp; 240894 | 6235062 |
| Infrastrutture Wireless Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 45609 | 507501 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 3709809 | 15064912 |
| Leonardo SpA | &nbsp;&nbsp; 77415 | 1844441 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 147632 | 2396545 |
| Moncler SpA | &nbsp;&nbsp; 45723 | 2726283 |
| Nexi SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 135023 | 828728 |
| Poste Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 90654 | 1227233 |
| Prysmian SpA | &nbsp;&nbsp; 63392 | 4357851 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 30252 | 1647015 |
| Snam SpA | &nbsp;&nbsp; 549354 | 2625157 |
| Stellantis NV | &nbsp;&nbsp; 518665 | 8643064 |
| Telecom Italia SpA/Milano<sup>(a)(b)</sup> | &nbsp;&nbsp; 3091893 | 757861 |
| Tenaris SA, NVS | &nbsp;&nbsp; 132457 | 2101672 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 407831 | 3396112 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| UniCredit SpA | &nbsp;&nbsp; 372746 | $15310430 |
|  |  | 111421464 |
| **Japan — 5.3%** | **Japan — 5.3%** | **Japan — 5.3%** |
| Advantest Corp. | &nbsp;&nbsp; 187600 | 8303432 |
| Aeon Co. Ltd. | &nbsp;&nbsp; 159800 | 3646090 |
| AGC Inc. | &nbsp;&nbsp; 50400 | 1803803 |
| Aisin Corp. | &nbsp;&nbsp; 44000 | 1484383 |
| Ajinomoto Co. Inc. | &nbsp;&nbsp; 114700 | 4723947 |
| ANA Holdings Inc. | &nbsp;&nbsp; 37000 | 707726 |
| Asahi Group Holdings Ltd. | &nbsp;&nbsp; 113000 | 4159889 |
| Asahi Kasei Corp. | &nbsp;&nbsp; 291800 | 2104247 |
| Asics Corp. | &nbsp;&nbsp; 147600 | 2408881 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 425100 | 4930289 |
| Bandai Namco Holdings Inc. | &nbsp;&nbsp; 149900 | 3185487 |
| Bridgestone Corp. | &nbsp;&nbsp; 143200 | 5838786 |
| Brother Industries Ltd. | &nbsp;&nbsp; 63700 | 1306892 |
| Canon Inc. | &nbsp;&nbsp; 239700 | 7503016 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 87200 | 1862933 |
| Central Japan Railway Co. | &nbsp;&nbsp; 160800 | 3791172 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 122000 | 1142832 |
| Chubu Electric Power Co. Inc. | &nbsp;&nbsp; 161900 | 2041319 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 160400 | 7000253 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 258800 | 1631090 |
| Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp; 56200 | 1848879 |
| Daifuku Co. Ltd. | &nbsp;&nbsp; 80600 | 1458722 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 230600 | 7031062 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 444700 | 18111592 |
| Daikin Industries Ltd. | &nbsp;&nbsp; 60500 | 8772896 |
| Daito Trust Construction Co. Ltd. | &nbsp;&nbsp; 9400 | 1130445 |
| Daiwa House Industry Co. Ltd. | &nbsp;&nbsp; 138700 | 3927760 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 350600 | 2894586 |
| Denso Corp. | &nbsp;&nbsp; 448800 | 7359874 |
| Dentsu Group Inc. | &nbsp;&nbsp; 55700 | 1472887 |
| Disco Corp. | &nbsp;&nbsp; 20700 | 6922009 |
| East Japan Railway Co. | &nbsp;&nbsp; 221800 | 4226045 |
| Eisai Co. Ltd. | &nbsp;&nbsp; 49000 | 1868660 |
| ENEOS Holdings Inc. | &nbsp;&nbsp; 728980 | 3819520 |
| FANUC Corp. | &nbsp;&nbsp; 231300 | 6857293 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 40700 | 11218904 |
| Fuji Electric Co. Ltd. | &nbsp;&nbsp; 34100 | 1918019 |
| FUJIFILM Holdings Corp. | &nbsp;&nbsp; 262200 | 6234048 |
| Fujitsu Ltd. | &nbsp;&nbsp; 430600 | 7819764 |
| Hamamatsu Photonics KK | &nbsp;&nbsp; 33300 | 959005 |
| Hankyu Hanshin Holdings Inc. | &nbsp;&nbsp; 61500 | 1754836 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 5400 | 1011173 |
| Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp; 31000 | 772121 |
| Hitachi Ltd. | &nbsp;&nbsp; 1121000 | 24221069 |
| Honda Motor Co. Ltd. | &nbsp;&nbsp; 1098300 | 11734866 |
| Hoshizaki Corp. | &nbsp;&nbsp; 30300 | 954262 |
| Hoya Corp. | &nbsp;&nbsp; 85400 | 10700683 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 124800 | 1218186 |
| Ibiden Co. Ltd. | &nbsp;&nbsp; 30900 | 1197751 |
| Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp; 240400 | 1583350 |
| Inpex Corp. | &nbsp;&nbsp; 239800 | 3702868 |
| Isuzu Motors Ltd. | &nbsp;&nbsp; 160400 | 2169751 |
| ITOCHU Corp. | &nbsp;&nbsp; 283900 | 14559365 |
| Japan Airlines Co. Ltd. | &nbsp;&nbsp; 42000 | 680521 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 130700 | 3068628 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 358100 | 3726448 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 490500 | 5194620 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 50200 | 1033494 |
| Japan Real Estate Investment Corp. | &nbsp;&nbsp; 361 | 1252131 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Japan Tobacco Inc. | &nbsp;&nbsp; 290000 | $8533302 |
| JFE Holdings Inc. | &nbsp;&nbsp; 124500 | 1823721 |
| Kajima Corp. | &nbsp;&nbsp; 114700 | 2216407 |
| Kansai Electric Power Co. Inc. (The) | &nbsp;&nbsp; 170400 | 2916531 |
| Kao Corp. | &nbsp;&nbsp; 118200 | 5175939 |
| Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp; 104300 | 1602585 |
| KDDI Corp. | &nbsp;&nbsp; 357600 | 10760186 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 35500 | 1061772 |
| Keyence Corp. | &nbsp;&nbsp; 46200 | 20201418 |
| Kikkoman Corp. | &nbsp;&nbsp; 163700 | 2048533 |
| Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp; 45700 | 1058420 |
| Kirin Holdings Co. Ltd. | &nbsp;&nbsp; 200300 | 2831756 |
| Kobe Bussan Co. Ltd. | &nbsp;&nbsp; 45000 | 1208198 |
| Koito Manufacturing Co. Ltd. | &nbsp;&nbsp; 62800 | 928580 |
| Komatsu Ltd. | &nbsp;&nbsp; 215500 | 6126142 |
| Konami Group Corp. | &nbsp;&nbsp; 28100 | 2114232 |
| Kubota Corp. | &nbsp;&nbsp; 250300 | 3598541 |
| Kyocera Corp. | &nbsp;&nbsp; 316100 | 3981267 |
| Kyowa Kirin Co. Ltd. | &nbsp;&nbsp; 39500 | 833158 |
| Lasertec Corp. | &nbsp;&nbsp; 19800 | 3513176 |
| LY Corp. | &nbsp;&nbsp; 676500 | 1692545 |
| M3 Inc. | &nbsp;&nbsp; 111500 | 1041104 |
| Makita Corp. | &nbsp;&nbsp; 62900 | 2073336 |
| Marubeni Corp. | &nbsp;&nbsp; 347700 | 6543631 |
| MatsukiyoCocokara & Co. | &nbsp;&nbsp; 80900 | 1319309 |
| Mazda Motor Corp. | &nbsp;&nbsp; 143800 | 1240335 |
| McDonald's Holdings Co. Japan Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 24100 | 998442 |
| MEIJI Holdings Co. Ltd. | &nbsp;&nbsp; 58000 | 1464753 |
| Minebea Mitsumi Inc. | &nbsp;&nbsp; 99300 | 2388593 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp; 296100 | 1748839 |
| Mitsubishi Corp. | &nbsp;&nbsp; 797700 | 16474143 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp; 472700 | 7876017 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 255000 | 4346201 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 146600 | 1054702 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp; 767000 | 9193320 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 2659700 | 30720467 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp; 625800 | 14520992 |
| Mitsui Chemicals Inc. | &nbsp;&nbsp; 45000 | 1301041 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 611500 | 6335054 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp; 85100 | 2703044 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 564490 | 12904323 |
| MonotaRO Co. Ltd. | &nbsp;&nbsp; 80700 | 1140799 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 322100 | 7593358 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 398300 | 8861368 |
| NEC Corp. | &nbsp;&nbsp; 53300 | 4613362 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 82600 | 1779097 |
| Nidec Corp. | &nbsp;&nbsp; 103600 | 4557433 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 249800 | 13803546 |
| Nippon Building Fund Inc. | &nbsp;&nbsp; 420 | 1620885 |
| Nippon Express Holdings Inc. | &nbsp;&nbsp; 16900 | 836226 |
| Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp; 245900 | 1569696 |
| Nippon Prologis REIT Inc. | &nbsp;&nbsp; 382 | 631140 |
| Nippon Sanso Holdings Corp. | &nbsp;&nbsp; 45500 | 1487019 |
| Nippon Steel Corp. | &nbsp;&nbsp; 206434 | 4482176 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 6675300 | 7113955 |
| Nippon Yusen KK | &nbsp;&nbsp; 113900 | 3670300 |
| Nissan Chemical Corp. | &nbsp;&nbsp; 39700 | 1280958 |
| Nissan Motor Co. Ltd. | &nbsp;&nbsp; 530400 | 1683556 |
| Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp; 51000 | 1516372 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp; 20200 | 2470368 |
| Nitto Denko Corp. | &nbsp;&nbsp; 38300 | 3325722 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 736700 | 4542203 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 26300 | $735209 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 1220 | 1196880 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 96700 | 2985293 |
| NTT Data Group Corp. | &nbsp;&nbsp; 160600 | 2501251 |
| Obayashi Corp. | &nbsp;&nbsp; 171700 | 2254305 |
| Obic Co. Ltd. | &nbsp;&nbsp; 17000 | 2592212 |
| Olympus Corp. | &nbsp;&nbsp; 295700 | 5104989 |
| Omron Corp. | &nbsp;&nbsp; 48100 | 1784214 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 103100 | 1520965 |
| Oracle Corp./Japan | &nbsp;&nbsp; 8800 | 718337 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 265600 | 7603996 |
| ORIX Corp. | &nbsp;&nbsp; 288000 | 6966616 |
| Osaka Gas Co. Ltd. | &nbsp;&nbsp; 93600 | 2118556 |
| Otsuka Corp. | &nbsp;&nbsp; 61600 | 1365535 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp; 95800 | 4882763 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 95200 | 2483692 |
| Panasonic Holdings Corp. | &nbsp;&nbsp; 513100 | 4202894 |
| Rakuten Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 373300 | 2190030 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 359800 | 20632116 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 370800 | 6386612 |
| Resona Holdings Inc. | &nbsp;&nbsp; 501700 | 3597658 |
| Ricoh Co. Ltd. | &nbsp;&nbsp; 141300 | 1315405 |
| Rohm Co. Ltd. | &nbsp;&nbsp; 89800 | 1224354 |
| SBI Holdings Inc. | &nbsp;&nbsp; 68330 | 1776145 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp; 21100 | 1788008 |
| SCSK Corp. | &nbsp;&nbsp; 53300 | 1049366 |
| Secom Co. Ltd. | &nbsp;&nbsp; 42300 | 2700971 |
| Seiko Epson Corp. | &nbsp;&nbsp; 80800 | 1398681 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp; 96200 | 1451465 |
| Sekisui House Ltd. | &nbsp;&nbsp; 152400 | 3818584 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp; 518300 | 6206514 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp; 96900 | 985342 |
| Shimadzu Corp. | &nbsp;&nbsp; 65100 | 1920078 |
| Shimano Inc. | &nbsp;&nbsp; 20100 | 3565821 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 427000 | 18971898 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 64600 | 2841694 |
| Shiseido Co. Ltd. | &nbsp;&nbsp; 96200 | 3006388 |
| Shizuoka Financial Group Inc., NVS | &nbsp;&nbsp; 125400 | 1252532 |
| SMC Corp. | &nbsp;&nbsp; 12800 | 6228034 |
| SoftBank Corp. | &nbsp;&nbsp; 658500 | 8589969 |
| SoftBank Group Corp. | &nbsp;&nbsp; 249700 | 15259770 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 219400 | 5002740 |
| Sony Group Corp. | &nbsp;&nbsp; 304800 | 27071908 |
| Subaru Corp. | &nbsp;&nbsp; 151200 | 2907046 |
| SUMCO Corp. | &nbsp;&nbsp; 92600 | 1522380 |
| Sumitomo Corp. | &nbsp;&nbsp; 252200 | 6266550 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp; 179800 | 2719846 |
| Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp; 65000 | 1982115 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 296700 | 21425573 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 160616 | 4059864 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 73400 | 2426070 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp; 41700 | 1497703 |
| Suzuki Motor Corp. | &nbsp;&nbsp; 369400 | 4245212 |
| Sysmex Corp. | &nbsp;&nbsp; 119300 | 1953092 |
| T&D Holdings Inc. | &nbsp;&nbsp; 88800 | 1664621 |
| Taisei Corp. | &nbsp;&nbsp; 45700 | 1940941 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 389034 | 10921844 |
| TDK Corp. | &nbsp;&nbsp; 91400 | 6376274 |
| Terumo Corp. | &nbsp;&nbsp; 320300 | 5742450 |
| TIS Inc. | &nbsp;&nbsp; 63100 | 1351692 |
| Toho Co. Ltd./Tokyo | &nbsp;&nbsp; 35500 | 1274884 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 441000 | 17301800 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Tokyo Electric Power Co. Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 388600 | $1946404 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 116500 | 24377316 |
| Tokyo Gas Co. Ltd. | &nbsp;&nbsp; 97900 | 2144952 |
| Tokyu Corp. | &nbsp;&nbsp; 124900 | 1513211 |
| Toppan Holdings Inc. | &nbsp;&nbsp; 60500 | 1711312 |
| Toray Industries Inc. | &nbsp;&nbsp; 352800 | 1834226 |
| TOTO Ltd. | &nbsp;&nbsp; 37700 | 1038076 |
| Toyota Industries Corp. | &nbsp;&nbsp; 38900 | 3270327 |
| Toyota Motor Corp. | &nbsp;&nbsp; 2551900 | 49023926 |
| Toyota Tsusho Corp. | &nbsp;&nbsp; 161200 | 3222875 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 21200 | 1016169 |
| Unicharm Corp. | &nbsp;&nbsp; 100500 | 3366810 |
| West Japan Railway Co. | &nbsp;&nbsp; 114800 | 2260071 |
| Yakult Honsha Co. Ltd. | &nbsp;&nbsp; 75600 | 1550209 |
| Yamaha Motor Co. Ltd. | &nbsp;&nbsp; 221200 | 2059809 |
| Yamato Holdings Co. Ltd. | &nbsp;&nbsp; 77700 | 943673 |
| Yaskawa Electric Corp. | &nbsp;&nbsp; 62500 | 2175238 |
| Yokogawa Electric Corp. | &nbsp;&nbsp; 61400 | 1554171 |
| Zensho Holdings Co. Ltd. | &nbsp;&nbsp; 24800 | 1009454 |
| ZOZO Inc. | &nbsp;&nbsp; 39200 | 1147577 |
|  |  | 961013707 |
| **Kuwait — 0.1%** | **Kuwait — 0.1%** | **Kuwait — 0.1%** |
| Boubyan Bank KSCP | &nbsp;&nbsp; 439445 | 851148 |
| Kuwait Finance House KSCP | &nbsp;&nbsp; 2471497 | 5960333 |
| Mabanee Co. KPSC | &nbsp;&nbsp; 249646 | 685720 |
| Mobile Telecommunications Co. KSCP | &nbsp;&nbsp; 560423 | 836576 |
| National Bank of Kuwait SAKP | &nbsp;&nbsp; 1613625 | 4784513 |
|  |  | 13118290 |
| **Malaysia — 0.1%** | **Malaysia — 0.1%** | **Malaysia — 0.1%** |
| Axiata Group Bhd | &nbsp;&nbsp; 352300 | 184233 |
| CELCOMDIGI Bhd | &nbsp;&nbsp; 1068683 | 884504 |
| CIMB Group Holdings Bhd | &nbsp;&nbsp; 1482200 | 2396610 |
| Genting Bhd | &nbsp;&nbsp; 650700 | 670520 |
| Genting Malaysia Bhd | &nbsp;&nbsp; 423900 | 240187 |
| Hong Leong Bank Bhd | &nbsp;&nbsp; 198400 | 833021 |
| IHH Healthcare Bhd | &nbsp;&nbsp; 638000 | 874829 |
| Inari Amertron Bhd | &nbsp;&nbsp; 783100 | 645647 |
| Kuala Lumpur Kepong Bhd | &nbsp;&nbsp; 80200 | 368240 |
| Malayan Banking Bhd | &nbsp;&nbsp; 1488400 | 3310795 |
| Malaysia Airports Holdings Bhd | &nbsp;&nbsp; 280000 | 624342 |
| Maxis Bhd | &nbsp;&nbsp; 808200 | 620948 |
| MISC Bhd | &nbsp;&nbsp; 365300 | 698876 |
| MR DIY Group M Bhd<sup>(c)</sup> | &nbsp;&nbsp; 430200 | 196707 |
| Nestle Malaysia Bhd | &nbsp;&nbsp; 21400 | 506193 |
| Petronas Chemicals Group Bhd<sup>(b)</sup> | &nbsp;&nbsp; 871700 | 1100784 |
| Petronas Gas Bhd | &nbsp;&nbsp; 316700 | 1255347 |
| PPB Group Bhd | &nbsp;&nbsp; 169400 | 547082 |
| Press Metal Aluminium Holdings Bhd | &nbsp;&nbsp; 1071600 | 1251173 |
| Public Bank Bhd | &nbsp;&nbsp; 3739150 | 3427907 |
| RHB Bank Bhd | &nbsp;&nbsp; 406400 | 505162 |
| Sime Darby Plantation Bhd | &nbsp;&nbsp; 336100 | 327273 |
| Telekom Malaysia Bhd | &nbsp;&nbsp; 404400 | 614146 |
| Tenaga Nasional Bhd | &nbsp;&nbsp; 736200 | 2256110 |
| YTL Corp. Bhd | &nbsp;&nbsp; 902500 | 671242 |
| YTL Power International Bhd | &nbsp;&nbsp; 575700 | 585365 |
|  |  | 25597243 |
| **Mexico — 0.2%** | **Mexico — 0.2%** | **Mexico — 0.2%** |
| America Movil SAB de CV | &nbsp;&nbsp; 4417410 | 3689276 |
| Arca Continental SAB de CV | &nbsp;&nbsp; 111800 | 1100178 |
| Banco del Bajio SA<sup>(c)</sup> | &nbsp;&nbsp; 180800 | 538780 |
| Cemex SAB de CV, NVS | &nbsp;&nbsp; 3640654 | 2352717 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Mexico (continued)** | **Mexico (continued)** | **Mexico (continued)** |
| Coca-Cola Femsa SAB de CV | &nbsp;&nbsp; 124900 | $1133358 |
| Fibra Uno Administracion SA de CV | &nbsp;&nbsp; 674500 | 857290 |
| Fomento Economico Mexicano SAB de CV | &nbsp;&nbsp; 502800 | 5552363 |
| Gruma SAB de CV, Class B | &nbsp;&nbsp; 42125 | 787557 |
| Grupo Aeroportuario del Centro Norte SAB de CV, <br> Class B<br>| &nbsp;&nbsp; 76200 | 654148 |
| Grupo Aeroportuario del Pacifico SAB de CV, <br> Class B<br>| &nbsp;&nbsp; 91395 | 1458170 |
| Grupo Aeroportuario del Sureste SAB de CV, <br> Class B<br>| &nbsp;&nbsp; 46580 | 1404575 |
| Grupo Bimbo SAB de CV, Series A<sup>(b)</sup> | &nbsp;&nbsp; 331800 | 1160614 |
| Grupo Carso SAB de CV, Series A1 | &nbsp;&nbsp; 177400 | 1140708 |
| Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp; 652400 | 4888711 |
| Grupo Financiero Inbursa SAB de CV, Class O<sup>(a)</sup> | &nbsp;&nbsp; 549900 | 1339110 |
| Grupo Mexico SAB de CV, Series B | &nbsp;&nbsp; 838128 | 4723495 |
| Industrias Penoles SAB de CV<sup>(a)</sup> | &nbsp;&nbsp; 45395 | 663175 |
| Kimberly-Clark de Mexico SAB de CV, Class A | &nbsp;&nbsp; 306900 | 545900 |
| Orbia Advance Corp. SAB de CV | &nbsp;&nbsp; 352558 | 452454 |
| Prologis Property Mexico SA de CV | &nbsp;&nbsp; 210850 | 703927 |
| Wal-Mart de Mexico SAB de CV | &nbsp;&nbsp; 1254400 | 4171683 |
|  |  | 39318189 |
| **Netherlands — 1.1%** | **Netherlands — 1.1%** | **Netherlands — 1.1%** |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 110942 | 1936698 |
| Adyen NV<sup>(a)(c)</sup> | &nbsp;&nbsp; 5411 | 6618942 |
| Aegon Ltd. | &nbsp;&nbsp; 390339 | 2525982 |
| AerCap Holdings NV | &nbsp;&nbsp; 48652 | 4570855 |
| Akzo Nobel NV | &nbsp;&nbsp; 43144 | 2667689 |
| ASM International NV | &nbsp;&nbsp; 12470 | 8579622 |
| ASML Holding NV | &nbsp;&nbsp; 97153 | 90466086 |
| ASR Nederland NV | &nbsp;&nbsp; 34366 | 1726625 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 18428 | 2373980 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 50311 | 3711443 |
| DSM-Firmenich AG | &nbsp;&nbsp; 42318 | 5402692 |
| EXOR NV, NVS | &nbsp;&nbsp; 23841 | 2443998 |
| Heineken Holding NV | &nbsp;&nbsp; 33849 | 2494348 |
| Heineken NV | &nbsp;&nbsp; 68855 | 6110244 |
| IMCD NV | &nbsp;&nbsp; 12857 | 1848752 |
| ING Groep NV | &nbsp;&nbsp; 820203 | 14887458 |
| InPost SA<sup>(a)</sup> | &nbsp;&nbsp; 42478 | 735954 |
| JDE Peet's NV | &nbsp;&nbsp; 20514 | 451117 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 232069 | 7476147 |
| Koninklijke KPN NV | &nbsp;&nbsp; 884778 | 3486188 |
| Koninklijke Philips NV<sup>(a)</sup> | &nbsp;&nbsp; 197550 | 5549117 |
| NN Group NV | &nbsp;&nbsp; 63700 | 3196731 |
| OCI NV | &nbsp;&nbsp; 24842 | 598702 |
| Prosus NV | &nbsp;&nbsp; 348888 | 12170358 |
| Randstad NV | &nbsp;&nbsp; 26708 | 1300812 |
| Universal Music Group NV | &nbsp;&nbsp; 194285 | 4628738 |
| Wolters Kluwer NV | &nbsp;&nbsp; 62127 | 10400637 |
|  |  | 208359915 |
| **New Zealand — 0.0%** | **New Zealand — 0.0%** | **New Zealand — 0.0%** |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 385142 | 1714545 |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 152080 | 2935879 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 262386 | 1015033 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 523511 | 1345414 |
|  |  | 7010871 |
| **Norway — 0.1%** | **Norway — 0.1%** | **Norway — 0.1%** |
| Aker BP ASA | &nbsp;&nbsp; 87128 | 2109734 |
| DNB Bank ASA | &nbsp;&nbsp; 225897 | 4667041 |
| Equinor ASA | &nbsp;&nbsp; 212213 | 5619442 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 33914 | 573749 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 22156 | $2227888 |
| Mowi ASA | &nbsp;&nbsp; 94975 | 1603037 |
| Norsk Hydro ASA | &nbsp;&nbsp; 364222 | 2020287 |
| Orkla ASA | &nbsp;&nbsp; 206833 | 1745565 |
| Salmar ASA | &nbsp;&nbsp; 17034 | 980048 |
| Telenor ASA | &nbsp;&nbsp; 165488 | 1971793 |
| Yara International ASA | &nbsp;&nbsp; 44704 | 1273454 |
|  |  | 24792038 |
| **Peru — 0.0%** | **Peru — 0.0%** | **Peru — 0.0%** |
| Cia. de Minas Buenaventura SAA, ADR | &nbsp;&nbsp; 47316 | 733398 |
| Credicorp Ltd. | &nbsp;&nbsp; 16345 | 2789111 |
| Southern Copper Corp. | &nbsp;&nbsp; 20259 | 2159812 |
|  |  | 5682321 |
| **Philippines — 0.1%** | **Philippines — 0.1%** | **Philippines — 0.1%** |
| Ayala Corp. | &nbsp;&nbsp; 51850 | 521551 |
| Ayala Land Inc. | &nbsp;&nbsp; 2184500 | 1105993 |
| Bank of the Philippine Islands | &nbsp;&nbsp; 530668 | 1102689 |
| BDO Unibank Inc. | &nbsp;&nbsp; 562706 | 1323650 |
| International Container Terminal Services Inc. | &nbsp;&nbsp; 129320 | 788651 |
| JG Summit Holdings Inc. | &nbsp;&nbsp; 576359 | 274478 |
| Jollibee Foods Corp. | &nbsp;&nbsp; 179700 | 709163 |
| Metropolitan Bank & Trust Co. | &nbsp;&nbsp; 517180 | 608572 |
| PLDT Inc. | &nbsp;&nbsp; 16515 | 428823 |
| SM Investments Corp. | &nbsp;&nbsp; 70920 | 1105321 |
| SM Prime Holdings Inc. | &nbsp;&nbsp; 2920825 | 1443164 |
|  |  | 9412055 |
| **Poland — 0.1%** | **Poland — 0.1%** | **Poland — 0.1%** |
| Allegro.eu SA <sup>(a)(c)</sup> | &nbsp;&nbsp; 122096 | 1121576 |
| Bank Polska Kasa Opieki SA | &nbsp;&nbsp; 53260 | 2157622 |
| Budimex SA | &nbsp;&nbsp; 2290 | 368532 |
| CD Projekt SA | &nbsp;&nbsp; 16970 | 681201 |
| Dino Polska SA<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 12780 | 1134940 |
| KGHM Polska Miedz SA | &nbsp;&nbsp; 40449 | 1390517 |
| LPP SA | &nbsp;&nbsp; 303 | 1161685 |
| mBank SA<sup>(a)</sup> | &nbsp;&nbsp; 2468 | 387983 |
| ORLEN SA | &nbsp;&nbsp; 129362 | 2109383 |
| PGE Polska Grupa Energetyczna SA<sup>(a)</sup> | &nbsp;&nbsp; 121449 | 223609 |
| Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp; 234287 | 3481839 |
| Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp; 151151 | 1851013 |
| Santander Bank Polska SA | &nbsp;&nbsp; 9521 | 1254662 |
|  |  | 17324562 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| Banco Espirito Santo SA, Registered,NVS<sup>(d)(e)</sup> | &nbsp;&nbsp; 3 |  |
| EDP Renovaveis SA | &nbsp;&nbsp; 77222 | 1200496 |
| EDP SA | &nbsp;&nbsp; 757251 | 3120984 |
| Galp Energia SGPS SA | &nbsp;&nbsp; 116306 | 2445498 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 73253 | 1280340 |
|  |  | 8047318 |
| **Qatar — 0.1%** | **Qatar — 0.1%** | **Qatar — 0.1%** |
| Commercial Bank PSQC (The) | &nbsp;&nbsp; 900003 | 1031148 |
| Dukhan Bank | &nbsp;&nbsp; 665203 | 682730 |
| Industries Qatar QSC | &nbsp;&nbsp; 427328 | 1535102 |
| Masraf Al Rayan QSC | &nbsp;&nbsp; 1481824 | 946279 |
| Mesaieed Petrochemical Holding Co. | &nbsp;&nbsp; 1233545 | 565512 |
| Ooredoo QPSC | &nbsp;&nbsp; 399205 | 1143713 |
| Qatar Gas Transport Co. Ltd. | &nbsp;&nbsp; 616575 | 761713 |
| Qatar Islamic Bank QPSC | &nbsp;&nbsp; 472350 | 2549329 |
| Qatar National Bank QPSC | &nbsp;&nbsp; 1097855 | 4596382 |
|  |  | 13811908 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Alrosa PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 472000 | $56 |
| Gazprom PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 3457370 | 407 |
| GMK Norilskiy Nickel PAO<sup>(a)(d)</sup> | &nbsp;&nbsp; 1966500 | 2 |
| Inter RAO UES PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 11798500 | 1388 |
| LUKOIL PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 127513 | 15 |
| Mobile TeleSystems PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 482206 | 57 |
| Moscow Exchange MICEX-RTS PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 490370 | 58 |
| Novatek PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 290740 | 34 |
| Novolipetsk Steel PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 316690 | 37 |
| PhosAgro PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 26470 | 3 |
| PhosAgro PJSC, New<sup>(a)(d)</sup> | &nbsp;&nbsp; 511 | 5 |
| Polyus PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 9781 | 1 |
| Rosneft Oil Co. PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 352530 | 41 |
| Sberbank of Russia PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 2557600 | 301 |
| Severstal PAO<sup>(a)(d)</sup> | &nbsp;&nbsp; 47814 | 6 |
| Surgutneftegas PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 2443710 | 287 |
| Tatneft PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 397511 | 47 |
| TCS Group Holding PLC, GDR<sup>(a)(d)(e)</sup> | &nbsp;&nbsp; 35279 | 4 |
| X5 Retail Group NV, GDR<sup>(a)(d)</sup> | &nbsp;&nbsp; 24002 | 3 |
| Yandex NV<sup>(a)(d)</sup> | &nbsp;&nbsp; 90278 | 11 |
|  |  | 2763 |
| **Saudi Arabia — 0.4%** | **Saudi Arabia — 0.4%** | **Saudi Arabia — 0.4%** |
| ACWA Power Co. | &nbsp;&nbsp; 36471 | 3839667 |
| Ades Holding Co.<sup>(a)</sup> | &nbsp;&nbsp; 96119 | 522622 |
| Al Rajhi Bank | &nbsp;&nbsp; 482536 | 11002197 |
| Alinma Bank | &nbsp;&nbsp; 354956 | 3065776 |
| Almarai Co. JSC | &nbsp;&nbsp; 72082 | 1160936 |
| Arab National Bank | &nbsp;&nbsp; 220060 | 1258685 |
| Arabian Internet & Communications Services Co. | &nbsp;&nbsp; 4895 | 383713 |
| Bank AlBilad | &nbsp;&nbsp; 139239 | 1364725 |
| Bank Al-Jazira<sup>(a)</sup> | &nbsp;&nbsp; 144605 | 662834 |
| Banque Saudi Fransi | &nbsp;&nbsp; 170656 | 1682933 |
| Bupa Arabia for Cooperative Insurance Co. | &nbsp;&nbsp; 19939 | 1224432 |
| Co. for Cooperative Insurance (The) | &nbsp;&nbsp; 17265 | 662474 |
| Dar Al Arkan Real Estate Development Co.<sup>(a)</sup> | &nbsp;&nbsp; 168874 | 609439 |
| Dr Sulaiman Al Habib Medical Services Group Co. | &nbsp;&nbsp; 20324 | 1560093 |
| Elm Co. | &nbsp;&nbsp; 5827 | 1421059 |
| Etihad Etisalat Co. | &nbsp;&nbsp; 100115 | 1390633 |
| Mouwasat Medical Services Co. | &nbsp;&nbsp; 19743 | 635260 |
| Riyad Bank | &nbsp;&nbsp; 422993 | 3094357 |
| SABIC Agri-Nutrients Co. | &nbsp;&nbsp; 63988 | 2007844 |
| Sahara International Petrochemical Co. | &nbsp;&nbsp; 101323 | 771031 |
| SAL Saudi Logistics Services | &nbsp;&nbsp; 5801 | 486126 |
| Saudi Arabian Mining Co.<sup>(a)</sup> | &nbsp;&nbsp; 363937 | 4178817 |
| Saudi Arabian Oil Co.<sup>(c)</sup> | &nbsp;&nbsp; 877965 | 6459034 |
| Saudi Awwal Bank | &nbsp;&nbsp; 240929 | 2520915 |
| Saudi Basic Industries Corp. | &nbsp;&nbsp; 225519 | 4736506 |
| Saudi Electricity Co. | &nbsp;&nbsp; 223911 | 1020210 |
| Saudi Industrial Investment Group | &nbsp;&nbsp; 77468 | 421775 |
| Saudi Investment Bank (The) | &nbsp;&nbsp; 117622 | 400656 |
| Saudi Kayan Petrochemical Co.<sup>(a)</sup> | &nbsp;&nbsp; 195819 | 425793 |
| Saudi National Bank (The) | &nbsp;&nbsp; 754333 | 7622052 |
| Saudi Research & Media Group<sup>(a)</sup> | &nbsp;&nbsp; 7060 | 491226 |
| Saudi Tadawul Group Holding Co. | &nbsp;&nbsp; 12524 | 772840 |
| Saudi Telecom Co. | &nbsp;&nbsp; 449504 | 4617271 |
| Savola Group (The)<sup>(a)</sup> | &nbsp;&nbsp; 66245 | 805817 |
| Yanbu National Petrochemical Co. | &nbsp;&nbsp; 64223 | 692401 |
|  |  | 73972149 |
| **Singapore — 0.3%** | **Singapore — 0.3%** | **Singapore — 0.3%** |
| CapitaLand Ascendas REIT<sup>(b)</sup> | &nbsp;&nbsp; 1079779 | 2204432 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 1555532 | 2429797 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Singapore (continued)** | **Singapore (continued)** | **Singapore (continued)** |
| CapitaLand Investment Ltd./Singapore<sup>(b)</sup> | &nbsp;&nbsp; 796500 | $1614930 |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 467960 | 12823700 |
| Genting Singapore Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1963500 | 1247712 |
| Grab Holdings Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 388046 | 1280552 |
| Keppel Ltd. | &nbsp;&nbsp; 399300 | 1987262 |
| Oversea-Chinese Banking Corp. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 875500 | 9744880 |
| Sea Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 89329 | 5868915 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 272400 | 973985 |
| Singapore Airlines Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 304700 | 1592335 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 95300 | 702637 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 432300 | 1431249 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 1874600 | 4342824 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 300300 | 7281879 |
| Wilmar International Ltd. | &nbsp;&nbsp; 425000 | 1013427 |
|  |  | 56540516 |
| **South Africa — 0.3%** | **South Africa — 0.3%** | **South Africa — 0.3%** |
| Absa Group Ltd. | &nbsp;&nbsp; 189483 | 1662561 |
| Anglo American Platinum Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 15298 | 593798 |
| Anglogold Ashanti PLC, NVS | &nbsp;&nbsp; 106837 | 3076428 |
| Aspen Pharmacare Holdings Ltd. | &nbsp;&nbsp; 105329 | 1456591 |
| Bid Corp. Ltd. | &nbsp;&nbsp; 97095 | 2416699 |
| Bidvest Group Ltd. (The) | &nbsp;&nbsp; 85142 | 1279614 |
| Capitec Bank Holdings Ltd. | &nbsp;&nbsp; 21660 | 3378006 |
| Clicks Group Ltd. | &nbsp;&nbsp; 54661 | 1062457 |
| Discovery Ltd. | &nbsp;&nbsp; 121357 | 951532 |
| Exxaro Resources Ltd. | &nbsp;&nbsp; 51288 | 549505 |
| FirstRand Ltd. | &nbsp;&nbsp; 1201513 | 5398894 |
| Gold Fields Ltd. | &nbsp;&nbsp; 227778 | 3965530 |
| Harmony Gold Mining Co. Ltd. | &nbsp;&nbsp; 130477 | 1279405 |
| Impala Platinum Holdings Ltd. | &nbsp;&nbsp; 224703 | 1154346 |
| Kumba Iron Ore Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 23925 | 521903 |
| MTN Group Ltd. | &nbsp;&nbsp; 422625 | 1833830 |
| Naspers Ltd., Class N | &nbsp;&nbsp; 44879 | 8679383 |
| Nedbank Group Ltd. | &nbsp;&nbsp; 136434 | 2089439 |
| NEPI Rockcastle NV | &nbsp;&nbsp; 88615 | 670092 |
| Northam Platinum Holdings Ltd. | &nbsp;&nbsp; 107107 | 838978 |
| Old Mutual Ltd. | &nbsp;&nbsp; 1454076 | 983622 |
| Reinet Investments SCA | &nbsp;&nbsp; 31273 | 842074 |
| Remgro Ltd. | &nbsp;&nbsp; 98028 | 753490 |
| Sanlam Ltd. | &nbsp;&nbsp; 418604 | 1874381 |
| Sasol Ltd. | &nbsp;&nbsp; 159553 | 1293776 |
| Shoprite Holdings Ltd. | &nbsp;&nbsp; 119592 | 2004087 |
| Sibanye Stillwater Ltd. | &nbsp;&nbsp; 620095 | 708080 |
| Standard Bank Group Ltd. | &nbsp;&nbsp; 312487 | 3808624 |
| Vodacom Group Ltd. | &nbsp;&nbsp; 119982 | 673414 |
| Woolworths Holdings Ltd./South Africa | &nbsp;&nbsp; 286667 | 947555 |
|  |  | 56748094 |
| **South Korea — 1.2%** | **South Korea — 1.2%** | **South Korea — 1.2%** |
| Alteogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 10175 | 2346165 |
| Amorepacific Corp. | &nbsp;&nbsp; 8146 | 1082712 |
| Celltrion Inc. | &nbsp;&nbsp; 36290 | 5432487 |
| Celltrion Pharm Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5484 | 402963 |
| CJ CheilJedang Corp. | &nbsp;&nbsp; 2527 | 713521 |
| CosmoAM&T Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6362 | 605679 |
| Coway Co. Ltd. | &nbsp;&nbsp; 17915 | 819609 |
| DB Insurance Co. Ltd. | &nbsp;&nbsp; 8850 | 715055 |
| Doosan Bobcat Inc. | &nbsp;&nbsp; 15668 | 474179 |
| Doosan Enerbility Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 99976 | 1376941 |
| Ecopro BM Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 11605 | 1540790 |
| Ecopro Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 25131 | 1708444 |
| Enchem Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2445 | 312819 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| Hana Financial Group Inc. | &nbsp;&nbsp; 75292 | $3567186 |
| Hanjin Kal Corp. | &nbsp;&nbsp; 6952 | 351852 |
| Hankook Tire & Technology Co. Ltd. | &nbsp;&nbsp; 18903 | 617291 |
| Hanmi Pharm Co. Ltd. | &nbsp;&nbsp; 3034 | 641163 |
| Hanmi Semiconductor Co. Ltd. | &nbsp;&nbsp; 11650 | 1122195 |
| Hanwha Aerospace Co. Ltd. | &nbsp;&nbsp; 8589 | 1802191 |
| Hanwha Ocean Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 24233 | 542529 |
| Hanwha Solutions Corp.<sup>(b)</sup> | &nbsp;&nbsp; 28495 | 517819 |
| HD Hyundai Co. Ltd. | &nbsp;&nbsp; 11574 | 709271 |
| HD Hyundai Electric Co. Ltd. | &nbsp;&nbsp; 4563 | 1032568 |
| HD Hyundai Heavy Industries Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 5270 | 814407 |
| HD Korea Shipbuilding & Offshore Engineering <br> Co. Ltd.<sup>(a)</sup><br>| &nbsp;&nbsp; 13802 | 2093702 |
| HLB Inc.<sup>(a)</sup> | &nbsp;&nbsp; 33127 | 1967585 |
| HMM Co. Ltd. | &nbsp;&nbsp; 73812 | 981744 |
| HYBE Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 4578 | 588889 |
| Hyundai Engineering & Construction Co. Ltd. | &nbsp;&nbsp; 16025 | 391538 |
| Hyundai Glovis Co. Ltd. | &nbsp;&nbsp; 11446 | 1018783 |
| Hyundai Mobis Co. Ltd. | &nbsp;&nbsp; 15731 | 2545122 |
| Hyundai Motor Co. | &nbsp;&nbsp; 34715 | 6326806 |
| Hyundai Steel Co.<sup>(b)</sup> | &nbsp;&nbsp; 26473 | 535663 |
| Industrial Bank of Korea | &nbsp;&nbsp; 37236 | 379950 |
| Kakao Corp. | &nbsp;&nbsp; 83361 | 2395549 |
| KakaoBank Corp. | &nbsp;&nbsp; 42100 | 661254 |
| KB Financial Group Inc. | &nbsp;&nbsp; 90479 | 5849112 |
| Kia Corp. | &nbsp;&nbsp; 61269 | 5027528 |
| Korea Aerospace Industries Ltd. | &nbsp;&nbsp; 24015 | 998100 |
| Korea Electric Power Corp.<sup>(a)</sup> | &nbsp;&nbsp; 72087 | 1040328 |
| Korea Zinc Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 2847 | 1009395 |
| Korean Air Lines Co. Ltd. | &nbsp;&nbsp; 35198 | 547030 |
| Krafton Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7411 | 1597948 |
| KT Corp. | &nbsp;&nbsp; 7801 | 227176 |
| KT&G Corp. | &nbsp;&nbsp; 28297 | 1929059 |
| Kum Yang Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 8554 | 424379 |
| Kumho Petrochemical Co. Ltd. | &nbsp;&nbsp; 4369 | 443156 |
| L&F Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6980 | 583793 |
| LG Chem Ltd. | &nbsp;&nbsp; 12808 | 2880316 |
| LG Corp. | &nbsp;&nbsp; 23883 | 1523070 |
| LG Display Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 107533 | 882723 |
| LG Electronics Inc. | &nbsp;&nbsp; 27168 | 2068861 |
| LG Energy Solution Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 11163 | 2657350 |
| LG H&H Co. Ltd. | &nbsp;&nbsp; 2907 | 747835 |
| LG Innotek Co. Ltd. | &nbsp;&nbsp; 4287 | 805163 |
| LG Uplus Corp. | &nbsp;&nbsp; 30970 | 226517 |
| Lotte Chemical Corp. | &nbsp;&nbsp; 6992 | 518155 |
| Meritz Financial Group Inc. | &nbsp;&nbsp; 22594 | 1392600 |
| Mirae Asset Securities Co. Ltd. | &nbsp;&nbsp; 64379 | 365555 |
| NAVER Corp. | &nbsp;&nbsp; 30498 | 3889788 |
| NCSoft Corp. | &nbsp;&nbsp; 4468 | 573324 |
| Netmarble Corp.<sup>(a)(c)</sup> | &nbsp;&nbsp; 7710 | 358410 |
| Orion Corp./Republic of Korea | &nbsp;&nbsp; 7240 | 463951 |
| Posco DX Co. Ltd. | &nbsp;&nbsp; 14152 | 300034 |
| POSCO Future M Co. Ltd. | &nbsp;&nbsp; 7807 | 1218224 |
| POSCO Holdings Inc. | &nbsp;&nbsp; 16585 | 4288887 |
| Posco International Corp.<sup>(b)</sup> | &nbsp;&nbsp; 13678 | 532268 |
| Samsung Biologics Co. Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 4631 | 3177283 |
| Samsung C&T Corp. | &nbsp;&nbsp; 23114 | 2632729 |
| Samsung E&A Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 41262 | 861872 |
| Samsung Electro-Mechanics Co. Ltd. | &nbsp;&nbsp; 12254 | 1432522 |
| Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 1147356 | 70748517 |
| Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp; 7432 | 2020978 |
| Samsung Heavy Industries Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 197503 | 1693236 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| Samsung Life Insurance Co. Ltd. | &nbsp;&nbsp; 19071 | $1345946 |
| Samsung SDI Co. Ltd. | &nbsp;&nbsp; 13409 | 3152848 |
| Samsung SDS Co. Ltd. | &nbsp;&nbsp; 9873 | 1068366 |
| Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp; 95573 | 4203388 |
| SK Biopharmaceuticals Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 8921 | 560362 |
| SK Bioscience Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6441 | 261427 |
| SK Hynix Inc. | &nbsp;&nbsp; 132985 | 19073172 |
| SK IE Technology Co. Ltd.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 7637 | 209352 |
| SK Inc. | &nbsp;&nbsp; 9380 | 1028789 |
| SK Innovation Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 14274 | 1088479 |
| SK Square Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 24328 | 1543107 |
| SK Telecom Co. Ltd. | &nbsp;&nbsp; 14580 | 576916 |
| SKC Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6217 | 619871 |
| S-Oil Corp. | &nbsp;&nbsp; 11194 | 552220 |
| Woori Financial Group Inc. | &nbsp;&nbsp; 141966 | 1634059 |
| Yuhan Corp. | &nbsp;&nbsp; 13155 | 906378 |
|  |  | 214898273 |
| **Spain — 0.6%** | **Spain — 0.6%** | **Spain — 0.6%** |
| Acciona SA | &nbsp;&nbsp; 4957 | 642643 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 56214 | 2511454 |
| Aena SME SA<sup>(c)</sup> | &nbsp;&nbsp; 15619 | 2967589 |
| Amadeus IT Group SA | &nbsp;&nbsp; 105748 | 6964650 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 1442266 | 15116695 |
| Banco de Sabadell SA | &nbsp;&nbsp; 1251972 | 2641967 |
| Banco Santander SA | &nbsp;&nbsp; 3856887 | 18606191 |
| CaixaBank SA | &nbsp;&nbsp; 988369 | 5764404 |
| Cellnex Telecom SA<sup>(c)</sup> | &nbsp;&nbsp; 128948 | 4497282 |
| Endesa SA | &nbsp;&nbsp; 75863 | 1472061 |
| Ferrovial SE | &nbsp;&nbsp; 134066 | 5331236 |
| Grifols SA<sup>(a)</sup> | &nbsp;&nbsp; 87324 | 882020 |
| Iberdrola SA | &nbsp;&nbsp; 1509515 | 19937966 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 250672 | 12179867 |
| Redeia Corp. SA | &nbsp;&nbsp; 116669 | 2071444 |
| Repsol SA | &nbsp;&nbsp; 308314 | 4397458 |
| Telefonica SA | &nbsp;&nbsp; 1264559 | 5727489 |
|  |  | 111712416 |
| **Sweden — 0.7%** | **Sweden — 0.7%** | **Sweden — 0.7%** |
| Alfa Laval AB | &nbsp;&nbsp; 75833 | 3353035 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 245781 | 7485088 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 674607 | 12006424 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 345343 | 5403206 |
| Beijer Ref AB, Class B | &nbsp;&nbsp; 106863 | 1696945 |
| Boliden AB | &nbsp;&nbsp; 70255 | 2148580 |
| Epiroc AB | &nbsp;&nbsp; 191124 | 3567401 |
| Epiroc AB, Class B | &nbsp;&nbsp; 22538 | 378963 |
| EQT AB | &nbsp;&nbsp; 87705 | 2839878 |
| Essity AB, Class B | &nbsp;&nbsp; 140346 | 3946012 |
| Evolution AB<sup>(c)</sup> | &nbsp;&nbsp; 44318 | 4293051 |
| Fastighets AB Balder, Class B<sup>(a)</sup> | &nbsp;&nbsp; 186118 | 1372496 |
| Getinge AB, Class B | &nbsp;&nbsp; 60895 | 1189149 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 140089 | 2179427 |
| Hexagon AB, Class B | &nbsp;&nbsp; 510941 | 5203650 |
| Holmen AB, Class B | &nbsp;&nbsp; 24032 | 944746 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 103301 | 697607 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 16252 | 557512 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 45476 | 1541505 |
| Indutrade AB | &nbsp;&nbsp; 63473 | 1866427 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 39962 | 1173542 |
| Investor AB, Class B | &nbsp;&nbsp; 429100 | 12182199 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 16751 | 846822 |
| Lifco AB, Class B | &nbsp;&nbsp; 67455 | 2001154 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 363296 | $1596411 |
| Saab AB | &nbsp;&nbsp; 79704 | 1840446 |
| Sagax AB, Class B | &nbsp;&nbsp; 44307 | 1094577 |
| Sandvik AB | &nbsp;&nbsp; 255394 | 5228380 |
| Securitas AB, Class B | &nbsp;&nbsp; 122768 | 1320689 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 393174 | 6046815 |
| Skanska AB, Class B | &nbsp;&nbsp; 78268 | 1530277 |
| SKF AB, Class B | &nbsp;&nbsp; 87599 | 1628541 |
| Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 162398 | 2207586 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 347989 | 3512554 |
| Swedbank AB, Class A | &nbsp;&nbsp; 207400 | 4410141 |
| Swedish Orphan Biovitrum AB<sup>(a)</sup> | &nbsp;&nbsp; 48029 | 1254857 |
| Tele2 AB, Class B | &nbsp;&nbsp; 129607 | 1334390 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 687260 | 4725503 |
| Telia Co. AB | &nbsp;&nbsp; 605618 | 1760152 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 45794 | 1701823 |
| Volvo AB, Class B | &nbsp;&nbsp; 411599 | 10504316 |
| Volvo Car AB<sup>(a)</sup> | &nbsp;&nbsp; 197638 | 560766 |
|  |  | 131133043 |
| **Switzerland — 2.2%** | **Switzerland — 2.2%** | **Switzerland — 2.2%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 386131 | 21432823 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 39391 | 1340803 |
| Alcon Inc. | &nbsp;&nbsp; 119571 | 11321524 |
| Avolta AG, Registered | &nbsp;&nbsp; 24763 | 934343 |
| Bachem Holding AG | &nbsp;&nbsp; 8362 | 750420 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 10459 | 1871756 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 8778 | 931762 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 803 | 1292036 |
| BKW AG | &nbsp;&nbsp; 5428 | 981879 |
| Chocoladefabriken Lindt & Spruengli AG, <br> Participation Certificates, NVS<br>| &nbsp;&nbsp; 253 | 3171001 |
| Chocoladefabriken Lindt & Spruengli <br> AG, Registered<br>| &nbsp;&nbsp; 30 | 3714851 |
| Cie. Financiere Richemont SA, <br> Class A, Registered<br>| &nbsp;&nbsp; 130293 | 19873762 |
| Clariant AG, Registered | &nbsp;&nbsp; 65002 | 964211 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 1756 | 1468430 |
| Geberit AG, Registered | &nbsp;&nbsp; 8645 | 5503979 |
| Givaudan SA, Registered | &nbsp;&nbsp; 2290 | 11234865 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 8981 | 1339777 |
| Holcim AG | &nbsp;&nbsp; 119902 | 11204890 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 54872 | 3003014 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 12048 | 3734767 |
| Logitech International SA, Registered | &nbsp;&nbsp; 39561 | 3563502 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 17846 | 11883815 |
| Nestle SA, Registered | &nbsp;&nbsp; 640514 | 64879324 |
| Novartis AG, Registered | &nbsp;&nbsp; 481339 | 53730825 |
| Partners Group Holding AG | &nbsp;&nbsp; 5460 | 7349393 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 7307 | 2569959 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 170086 | 55066938 |
| Sandoz Group AG | &nbsp;&nbsp; 100045 | 4339277 |
| Schindler Holding AG, Participation <br> Certificates, NVS<br>| &nbsp;&nbsp; 8627 | 2309051 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 6805 | 1786581 |
| SGS SA | &nbsp;&nbsp; 34508 | 3772873 |
| SIG Group AG | &nbsp;&nbsp; 67635 | 1420341 |
| Sika AG, Registered | &nbsp;&nbsp; 36635 | 11122977 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 12287 | 3766407 |
| Straumann Holding AG | &nbsp;&nbsp; 25297 | 3262091 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 8875 | 1827850 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 7558 | 5787266 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 23698 | 2375021 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Swiss Re AG | &nbsp;&nbsp; 72215 | $8902906 |
| Swisscom AG, Registered | &nbsp;&nbsp; 6260 | 3831383 |
| Temenos AG, Registered | &nbsp;&nbsp; 17894 | 1242532 |
| UBS Group AG, Registered | &nbsp;&nbsp; 815691 | 24715986 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 6737 | 3376152 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 35221 | 19363454 |
|  |  | 408316797 |
| **Taiwan — 1.9%** | **Taiwan — 1.9%** | **Taiwan — 1.9%** |
| Accton Technology Corp. | &nbsp;&nbsp; 128000 | 2006435 |
| Acer Inc. | &nbsp;&nbsp; 806000 | 1087912 |
| Advantech Co. Ltd. | &nbsp;&nbsp; 131312 | 1396708 |
| Airtac International Group | &nbsp;&nbsp; 35393 | 907252 |
| Alchip Technologies Ltd. | &nbsp;&nbsp; 21000 | 1710432 |
| ASE Technology Holding Co. Ltd. | &nbsp;&nbsp; 803873 | 3751762 |
| Asia Cement Corp. | &nbsp;&nbsp; 754000 | 952569 |
| Asia Vital Components Co. Ltd. | &nbsp;&nbsp; 78000 | 1553139 |
| Asustek Computer Inc. | &nbsp;&nbsp; 190000 | 2664498 |
| AUO Corp. | &nbsp;&nbsp; 1790400 | 977560 |
| Catcher Technology Co. Ltd. | &nbsp;&nbsp; 155000 | 1009635 |
| Cathay Financial Holding Co. Ltd. | &nbsp;&nbsp; 2401264 | 4597993 |
| Chailease Holding Co. Ltd. | &nbsp;&nbsp; 321397 | 1499366 |
| Chang Hwa Commercial Bank Ltd. | &nbsp;&nbsp; 970017 | 554784 |
| Cheng Shin Rubber Industry Co. Ltd. | &nbsp;&nbsp; 278000 | 409620 |
| China Airlines Ltd. | &nbsp;&nbsp; 800000 | 562762 |
| China Development Financial Holding Corp. | &nbsp;&nbsp; 3983000 | 1965773 |
| China Steel Corp. | &nbsp;&nbsp; 2598305 | 1839008 |
| Chunghwa Telecom Co. Ltd. | &nbsp;&nbsp; 889140 | 3294694 |
| Compal Electronics Inc. | &nbsp;&nbsp; 898000 | 870087 |
| CTBC Financial Holding Co. Ltd. | &nbsp;&nbsp; 4146142 | 4500296 |
| Delta Electronics Inc. | &nbsp;&nbsp; 460000 | 5908160 |
| E Ink Holdings Inc. | &nbsp;&nbsp; 186000 | 1534711 |
| E.Sun Financial Holding Co. Ltd. | &nbsp;&nbsp; 3502681 | 2837818 |
| Eclat Textile Co. Ltd. | &nbsp;&nbsp; 65000 | 1055690 |
| eMemory Technology Inc. | &nbsp;&nbsp; 18000 | 1278634 |
| Eva Airways Corp. | &nbsp;&nbsp; 729000 | 768308 |
| Evergreen Marine Corp. Taiwan Ltd. | &nbsp;&nbsp; 302000 | 1568568 |
| Far EasTone Telecommunications Co. Ltd. | &nbsp;&nbsp; 445000 | 1172267 |
| Feng TAY Enterprise Co. Ltd. | &nbsp;&nbsp; 152096 | 651454 |
| First Financial Holding Co. Ltd. | &nbsp;&nbsp; 2590942 | 2320584 |
| Formosa Chemicals & Fibre Corp. | &nbsp;&nbsp; 948000 | 1443389 |
| Formosa Plastics Corp. | &nbsp;&nbsp; 1034160 | 1826142 |
| Fortune Electric Co. Ltd. | &nbsp;&nbsp; 29700 | 633827 |
| Fubon Financial Holding Co. Ltd. | &nbsp;&nbsp; 1915439 | 5186937 |
| Gigabyte Technology Co. Ltd. | &nbsp;&nbsp; 134000 | 1083693 |
| Global Unichip Corp. | &nbsp;&nbsp; 24000 | 863882 |
| Globalwafers Co. Ltd. | &nbsp;&nbsp; 71000 | 1080031 |
| Hon Hai Precision Industry Co. Ltd. | &nbsp;&nbsp; 3074000 | 18858731 |
| Hotai Motor Co. Ltd. | &nbsp;&nbsp; 78000 | 1546888 |
| Hua Nan Financial Holdings Co. Ltd. | &nbsp;&nbsp; 2166398 | 1834688 |
| Innolux Corp. | &nbsp;&nbsp; 2554317 | 1201345 |
| Inventec Corp. | &nbsp;&nbsp; 706000 | 1044006 |
| Largan Precision Co. Ltd. | &nbsp;&nbsp; 22000 | 1908725 |
| Lite-On Technology Corp. | &nbsp;&nbsp; 559000 | 1709595 |
| MediaTek Inc. | &nbsp;&nbsp; 366000 | 13939154 |
| Mega Financial Holding Co. Ltd. | &nbsp;&nbsp; 2510654 | 3310588 |
| Micro-Star International Co. Ltd. | &nbsp;&nbsp; 208000 | 1085236 |
| Nan Ya Plastics Corp. | &nbsp;&nbsp; 1198830 | 1834411 |
| Nanya Technology Corp.<sup>(a)</sup> | &nbsp;&nbsp; 331000 | 582689 |
| Novatek Microelectronics Corp. | &nbsp;&nbsp; 147000 | 2370751 |
| Pegatron Corp. | &nbsp;&nbsp; 450000 | 1390105 |
| PharmaEssentia Corp.<sup>(a)</sup> | &nbsp;&nbsp; 74000 | 1485692 |
| Pou Chen Corp. | &nbsp;&nbsp; 186000 | 205312 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Taiwan (continued)** | **Taiwan (continued)** | **Taiwan (continued)** |
| President Chain Store Corp. | &nbsp;&nbsp; 175000 | $1482291 |
| Quanta Computer Inc. | &nbsp;&nbsp; 711000 | 6057542 |
| Realtek Semiconductor Corp. | &nbsp;&nbsp; 124000 | 1956095 |
| Ruentex Development Co. Ltd. | &nbsp;&nbsp; 445600 | 699532 |
| Shanghai Commercial & Savings Bank Ltd. (The) | &nbsp;&nbsp; 1000851 | 1275062 |
| Silergy Corp. | &nbsp;&nbsp; 100000 | 1382549 |
| SinoPac Financial Holdings Co. Ltd. | &nbsp;&nbsp; 2645887 | 2153772 |
| Synnex Technology International Corp. | &nbsp;&nbsp; 161000 | 349744 |
| Taishin Financial Holding Co. Ltd. | &nbsp;&nbsp; 2395063 | 1484375 |
| Taiwan Cement Corp. | &nbsp;&nbsp; 1596227 | 1688856 |
| Taiwan Cooperative Financial Holding Co. Ltd. | &nbsp;&nbsp; 2918968 | 2393508 |
| Taiwan High Speed Rail Corp. | &nbsp;&nbsp; 545000 | 494902 |
| Taiwan Mobile Co. Ltd. | &nbsp;&nbsp; 532000 | 1711445 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 5975000 | 174298453 |
| Unimicron Technology Corp. | &nbsp;&nbsp; 388000 | 2162096 |
| Uni-President Enterprises Corp. | &nbsp;&nbsp; 1188600 | 3054589 |
| United Microelectronics Corp. | &nbsp;&nbsp; 2837000 | 4519603 |
| Vanguard International Semiconductor Corp. | &nbsp;&nbsp; 314000 | 1119244 |
| Voltronic Power Technology Corp. | &nbsp;&nbsp; 20000 | 1138303 |
| Walsin Lihwa Corp. | &nbsp;&nbsp; 803869 | 848221 |
| Wan Hai Lines Ltd. | &nbsp;&nbsp; 234600 | 559619 |
| Winbond Electronics Corp. | &nbsp;&nbsp; 1008804 | 719201 |
| Wistron Corp. | &nbsp;&nbsp; 686000 | 2064068 |
| Wiwynn Corp. | &nbsp;&nbsp; 25000 | 1584600 |
| WPG Holdings Ltd. | &nbsp;&nbsp; 267000 | 703584 |
| Yageo Corp. | &nbsp;&nbsp; 85858 | 2093709 |
| Yang Ming Marine Transport Corp. | &nbsp;&nbsp; 525000 | 1017375 |
| Yuanta Financial Holding Co. Ltd. | &nbsp;&nbsp; 2463037 | 2471113 |
| Zhen Ding Technology Holding Ltd. | &nbsp;&nbsp; 198000 | 835052 |
|  |  | 345952799 |
| **Thailand — 0.1%** | **Thailand — 0.1%** | **Thailand — 0.1%** |
| Advanced Info Service PCL, NVDR | &nbsp;&nbsp; 386200 | 2538275 |
| Airports of Thailand PCL, NVDR<sup>(b)</sup> | &nbsp;&nbsp; 1546600 | 2454179 |
| Bangkok Dusit Medical Services PCL, NVDR | &nbsp;&nbsp; 2530100 | 1865133 |
| Central Pattana PCL, NVDR<sup>(b)</sup> | &nbsp;&nbsp; 821000 | 1274583 |
| Charoen Pokphand Foods PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 2409200 | 1623497 |
| CP ALL PCL, NVDR | &nbsp;&nbsp; 1756300 | 2873583 |
| CP Axtra PCL, NVDR<sup>(b)</sup> | &nbsp;&nbsp; 222400 | 190578 |
| Delta Electronics Thailand PCL, NVDR<sup>(b)</sup> | &nbsp;&nbsp; 756300 | 2177990 |
| Energy Absolute PCL, NVDR | &nbsp;&nbsp; 1109000 | 112481 |
| Gulf Energy Development PCL, NVDR<sup>(b)</sup> | &nbsp;&nbsp; 1076656 | 1445332 |
| PTT Exploration & Production PCL, NVDR | &nbsp;&nbsp; 526700 | 2165610 |
| PTT Global Chemical PCL, NVDR<sup>(b)</sup> | &nbsp;&nbsp; 594700 | 455548 |
| PTT PCL, NVDR | &nbsp;&nbsp; 2412500 | 2165288 |
| Siam Cement PCL (The), NVDR | &nbsp;&nbsp; 225400 | 1399116 |
| True Corp. PCL, NVDR<sup>(a)(b)</sup> | &nbsp;&nbsp; 2305090 | 600273 |
|  |  | 23341466 |
| **Turkey — 0.1%** | **Turkey — 0.1%** | **Turkey — 0.1%** |
| Akbank TAS | &nbsp;&nbsp; 802789 | 1500484 |
| Aselsan Elektronik Sanayi Ve Ticaret A/S | &nbsp;&nbsp; 435627 | 822711 |
| BIM Birlesik Magazalar A/S | &nbsp;&nbsp; 126433 | 2387959 |
| Coca-Cola Icecek A/S | &nbsp;&nbsp; 8613 | 220021 |
| Eregli Demir ve Celik Fabrikalari TAS | &nbsp;&nbsp; 518327 | 877240 |
| Ford Otomotiv Sanayi AS | &nbsp;&nbsp; 14179 | 425570 |
| Haci Omer Sabanci Holding AS | &nbsp;&nbsp; 236744 | 710209 |
| KOC Holding AS | &nbsp;&nbsp; 174031 | 1130333 |
| Pegasus Hava Tasimaciligi AS<sup>(a)</sup> | &nbsp;&nbsp; 27890 | 188641 |
| Sasa Polyester Sanayi AS<sup>(a)</sup> | &nbsp;&nbsp; 270387 | 379645 |
| Turk Hava Yollari AO<sup>(a)</sup> | &nbsp;&nbsp; 148887 | 1300377 |
| Turkcell Iletisim Hizmetleri AS | &nbsp;&nbsp; 381536 | 1216574 |
| Turkiye Is Bankasi AS, Class C | &nbsp;&nbsp; 2065879 | 935697 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Turkey (continued)** | **Turkey (continued)** | **Turkey (continued)** |
| Turkiye Petrol Rafinerileri AS | &nbsp;&nbsp; 248649 | $1226061 |
| Turkiye Sise ve Cam Fabrikalari AS | &nbsp;&nbsp; 403394 | 572975 |
| Yapi ve Kredi Bankasi A/S | &nbsp;&nbsp; 721997 | 658387 |
|  |  | 14552884 |
| **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** |
| Abu Dhabi Commercial Bank PJSC | &nbsp;&nbsp; 693151 | 1679437 |
| Abu Dhabi Islamic Bank PJSC | &nbsp;&nbsp; 368706 | 1230710 |
| Abu Dhabi National Oil Co. for Distribution PJSC | &nbsp;&nbsp; 774855 | 752830 |
| Aldar Properties PJSC | &nbsp;&nbsp; 895608 | 1801969 |
| Americana Restaurants International PLC | &nbsp;&nbsp; 558978 | 470605 |
| Dubai Islamic Bank PJSC | &nbsp;&nbsp; 715845 | 1140144 |
| Emaar Properties PJSC | &nbsp;&nbsp; 1542184 | 3623531 |
| Emirates NBD Bank PJSC | &nbsp;&nbsp; 580532 | 3018871 |
| Emirates Telecommunications Group Co. PJSC | &nbsp;&nbsp; 853294 | 3805376 |
| First Abu Dhabi Bank PJSC | &nbsp;&nbsp; 1110255 | 3941716 |
| Multiply Group PJSC<sup>(a)</sup> | &nbsp;&nbsp; 851375 | 533131 |
|  |  | 21998320 |
| **United Kingdom — 3.4%** | **United Kingdom — 3.4%** | **United Kingdom — 3.4%** |
| 3i Group PLC | &nbsp;&nbsp; 256156 | 10305338 |
| Admiral Group PLC | &nbsp;&nbsp; 49048 | 1738242 |
| Anglo American PLC | &nbsp;&nbsp; 298936 | 9062639 |
| Antofagasta PLC | &nbsp;&nbsp; 107071 | 2788042 |
| Ashtead Group PLC | &nbsp;&nbsp; 114944 | 8295210 |
| Associated British Foods PLC | &nbsp;&nbsp; 84912 | 2710837 |
| AstraZeneca PLC | &nbsp;&nbsp; 370765 | 58903722 |
| Auto Trader Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 251371 | 2633076 |
| Aviva PLC | &nbsp;&nbsp; 626758 | 4037498 |
| BAE Systems PLC | &nbsp;&nbsp; 757400 | 12631996 |
| Barclays PLC | &nbsp;&nbsp; 3729005 | 11150865 |
| Barratt Developments PLC | &nbsp;&nbsp; 251353 | 1700878 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 30824 | 2012264 |
| BP PLC | &nbsp;&nbsp; 4445363 | 26277032 |
| British American Tobacco PLC | &nbsp;&nbsp; 501926 | 17808851 |
| BT Group PLC | &nbsp;&nbsp; 1645837 | 2984728 |
| Bunzl PLC | &nbsp;&nbsp; 66773 | 2797745 |
| Burberry Group PLC | &nbsp;&nbsp; 107412 | 1074960 |
| Centrica PLC | &nbsp;&nbsp; 1098254 | 1872494 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 58305 | 2127544 |
| Compass Group PLC | &nbsp;&nbsp; 403641 | 12430128 |
| Croda International PLC | &nbsp;&nbsp; 25803 | 1341605 |
| DCC PLC | &nbsp;&nbsp; 21975 | 1513967 |
| Diageo PLC | &nbsp;&nbsp; 528163 | 16433775 |
| Endeavour Mining PLC | &nbsp;&nbsp; 26617 | 594558 |
| Entain PLC | &nbsp;&nbsp; 145882 | 1072031 |
| Experian PLC | &nbsp;&nbsp; 227151 | 10716986 |
| Flutter Entertainment PLC<sup>(a)</sup> | &nbsp;&nbsp; 42620 | 8430481 |
| Glencore PLC | &nbsp;&nbsp; 2443480 | 13558473 |
| GSK PLC | &nbsp;&nbsp; 973840 | 18910787 |
| Haleon PLC | &nbsp;&nbsp; 1674444 | 7510554 |
| Halma PLC | &nbsp;&nbsp; 78304 | 2680234 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 72009 | 1022966 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 31273 | 764620 |
| HSBC Holdings PLC | &nbsp;&nbsp; 4722957 | 42951060 |
| Imperial Brands PLC | &nbsp;&nbsp; 222607 | 6135458 |
| Informa PLC | &nbsp;&nbsp; 269219 | 3008570 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 31372 | 3160592 |
| Intertek Group PLC | &nbsp;&nbsp; 43435 | 2820580 |
| J Sainsbury PLC | &nbsp;&nbsp; 473342 | 1678564 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 542710 | 918181 |
| Kingfisher PLC | &nbsp;&nbsp; 555374 | 1974426 |
| Land Securities Group PLC | &nbsp;&nbsp; 206171 | 1685944 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Legal & General Group PLC | &nbsp;&nbsp; 1472086 | $4390682 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 16372499 | 12507768 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 101016 | 12296240 |
| M&G PLC | &nbsp;&nbsp; 526776 | 1438438 |
| Melrose Industries PLC | &nbsp;&nbsp; 308385 | 2335187 |
| Mondi PLC, NVS | &nbsp;&nbsp; 65270 | 1276137 |
| National Grid PLC | &nbsp;&nbsp; 1130799 | 14347776 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 1491915 | 7078367 |
| Next PLC | &nbsp;&nbsp; 30261 | 3536897 |
| NMC Health PLC, NVS<sup>(d)</sup> | &nbsp;&nbsp; 19275 |  |
| Pearson PLC | &nbsp;&nbsp; 176292 | 2391925 |
| Persimmon PLC | &nbsp;&nbsp; 78752 | 1605932 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 62043 | 436975 |
| Prudential PLC | &nbsp;&nbsp; 663254 | 5985461 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 164380 | 8842600 |
| RELX PLC | &nbsp;&nbsp; 466464 | 22015928 |
| Rentokil Initial PLC | &nbsp;&nbsp; 627047 | 3828847 |
| Rio Tinto PLC | &nbsp;&nbsp; 286030 | 18601359 |
| Rolls-Royce Holdings PLC<sup>(a)</sup> | &nbsp;&nbsp; 2059069 | 11922426 |
| Sage Group PLC (The) | &nbsp;&nbsp; 206522 | 2886879 |
| Schroders PLC | &nbsp;&nbsp; 106786 | 539640 |
| Segro PLC | &nbsp;&nbsp; 306961 | 3613117 |
| Severn Trent PLC | &nbsp;&nbsp; 79314 | 2622094 |
| Shell PLC | &nbsp;&nbsp; 1585959 | 57830219 |
| Smith & Nephew PLC | &nbsp;&nbsp; 220028 | 3171224 |
| Smiths Group PLC | &nbsp;&nbsp; 77409 | 1778019 |
| Spirax Group PLC | &nbsp;&nbsp; 14927 | 1742683 |
| SSE PLC | &nbsp;&nbsp; 249018 | 6026684 |
| Standard Chartered PLC | &nbsp;&nbsp; 566582 | 5596859 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 925931 | 1898321 |
| Tesco PLC | &nbsp;&nbsp; 1696519 | 7234754 |
| Unilever PLC | &nbsp;&nbsp; 601496 | 36964741 |
| United Utilities Group PLC | &nbsp;&nbsp; 117765 | 1565053 |
| Vodafone Group PLC | &nbsp;&nbsp; 5746399 | 5377190 |
| Whitbread PLC | &nbsp;&nbsp; 38378 | 1438022 |
| Wise PLC, Class A<sup>(a)</sup> | &nbsp;&nbsp; 146391 | 1347908 |
| WPP PLC | &nbsp;&nbsp; 307702 | 2968117 |
|  |  | 623668970 |
| **United States — 64.3%** | **United States — 64.3%** | **United States — 64.3%** |
| 3M Co. | &nbsp;&nbsp; 134114 | 17106241 |
| A O Smith Corp. | &nbsp;&nbsp; 32709 | 2781573 |
| Abbott Laboratories | &nbsp;&nbsp; 419357 | 44426681 |
| AbbVie Inc. | &nbsp;&nbsp; 429625 | 79618105 |
| Accenture PLC, Class A | &nbsp;&nbsp; 152642 | 50466498 |
| Adobe Inc.<sup>(a)</sup> | &nbsp;&nbsp; 108293 | 59739833 |
| Advanced Micro Devices Inc.<sup>(a)</sup> | &nbsp;&nbsp; 390971 | 56487490 |
| AECOM | &nbsp;&nbsp; 29707 | 2691751 |
| AES Corp. (The) | &nbsp;&nbsp; 170426 | 3031879 |
| Aflac Inc. | &nbsp;&nbsp; 133848 | 12766422 |
| Agilent Technologies Inc. | &nbsp;&nbsp; 71126 | 10057216 |
| Air Products and Chemicals Inc. | &nbsp;&nbsp; 53713 | 14172175 |
| Airbnb Inc.<sup>(a)</sup> | &nbsp;&nbsp; 106522 | 14866210 |
| Akamai Technologies Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 36088 | 3546729 |
| Albemarle Corp. | &nbsp;&nbsp; 27199 | 2547730 |
| Albertsons Companies Inc., Class A | &nbsp;&nbsp; 81264 | 1611465 |
| Alexandria Real Estate Equities Inc. | &nbsp;&nbsp; 40799 | 4785315 |
| Align Technology Inc.<sup>(a)</sup> | &nbsp;&nbsp; 17287 | 4008510 |
| Allegion PLC | &nbsp;&nbsp; 22284 | 3048674 |
| Alliant Energy Corp. | &nbsp;&nbsp; 62241 | 3464334 |
| Allstate Corp. (The) | &nbsp;&nbsp; 63364 | 10842848 |
| Ally Financial Inc. | &nbsp;&nbsp; 68808 | 3097048 |
| Alnylam Pharmaceuticals Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 30599 | 7266039 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Alphabet Inc., Class A | &nbsp;&nbsp; 1433033 | $245822481 |
| Alphabet Inc., Class C, NVS | &nbsp;&nbsp; 1240369 | 214769892 |
| Altria Group Inc. | &nbsp;&nbsp; 418326 | 20502157 |
| Amazon.com Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2275055 | 425389784 |
| Amcor PLC | &nbsp;&nbsp; 364073 | 3833689 |
| Ameren Corp. | &nbsp;&nbsp; 71299 | 5651872 |
| American Electric Power Co. Inc. | &nbsp;&nbsp; 126285 | 12391084 |
| American Express Co. | &nbsp;&nbsp; 141643 | 35841345 |
| American Financial Group Inc./OH | &nbsp;&nbsp; 18869 | 2471084 |
| American Homes 4 Rent, Class A | &nbsp;&nbsp; 95419 | 3443672 |
| American International Group Inc. | &nbsp;&nbsp; 165776 | 13134432 |
| American Tower Corp. | &nbsp;&nbsp; 112343 | 24760397 |
| American Water Works Co. Inc. | &nbsp;&nbsp; 47237 | 6724659 |
| Ameriprise Financial Inc. | &nbsp;&nbsp; 24612 | 10584883 |
| AMETEK Inc. | &nbsp;&nbsp; 55387 | 9608537 |
| Amgen Inc. | &nbsp;&nbsp; 130143 | 43268643 |
| Amphenol Corp., Class A | &nbsp;&nbsp; 287406 | 18468710 |
| Analog Devices Inc. | &nbsp;&nbsp; 122723 | 28395648 |
| Annaly Capital Management Inc. | &nbsp;&nbsp; 113127 | 2252359 |
| Ansys Inc.<sup>(a)</sup> | &nbsp;&nbsp; 21547 | 6757786 |
| Aon PLC, Class A | &nbsp;&nbsp; 48099 | 15801002 |
| APA Corp. | &nbsp;&nbsp; 88108 | 2748089 |
| Apollo Global Management Inc. | &nbsp;&nbsp; 96394 | 12079132 |
| Apple Inc. | &nbsp;&nbsp; 3564956 | 791705428 |
| Applied Materials Inc. | &nbsp;&nbsp; 204171 | 43325086 |
| AppLovin Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp; 44629 | 3440896 |
| Aptiv PLC<sup>(a)</sup> | &nbsp;&nbsp; 68040 | 4721296 |
| Arch Capital Group Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 93216 | 8928228 |
| Archer-Daniels-Midland Co. | &nbsp;&nbsp; 121161 | 7513194 |
| Ares Management Corp., Class A | &nbsp;&nbsp; 43252 | 6626206 |
| Arista Networks Inc.<sup>(a)</sup> | &nbsp;&nbsp; 64197 | 22247470 |
| Arthur J Gallagher & Co. | &nbsp;&nbsp; 53719 | 15228799 |
| Aspen Technology Inc.<sup>(a)</sup> | &nbsp;&nbsp; 6945 | 1305313 |
| Assurant Inc. | &nbsp;&nbsp; 13402 | 2343608 |
| AT&T Inc. | &nbsp;&nbsp; 1726255 | 33230409 |
| Atlassian Corp., NVS<sup>(a)</sup> | &nbsp;&nbsp; 37987 | 6707365 |
| Atmos Energy Corp. | &nbsp;&nbsp; 36226 | 4632581 |
| Autodesk Inc.<sup>(a)</sup> | &nbsp;&nbsp; 50947 | 12610401 |
| Automatic Data Processing Inc. | &nbsp;&nbsp; 99206 | 26053480 |
| AutoZone Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4231 | 13258642 |
| AvalonBay Communities Inc. | &nbsp;&nbsp; 34102 | 6988182 |
| Avantor Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 162223 | 4339465 |
| Avery Dennison Corp. | &nbsp;&nbsp; 20840 | 4518737 |
| Axon Enterprise Inc.<sup>(a)</sup> | &nbsp;&nbsp; 16875 | 5062669 |
| Baker Hughes Co., Class A | &nbsp;&nbsp; 241338 | 9344607 |
| Ball Corp. | &nbsp;&nbsp; 74909 | 4781441 |
| Bank of America Corp. | &nbsp;&nbsp; 1726253 | 69585258 |
| Bank of New York Mellon Corp. (The) | &nbsp;&nbsp; 186154 | 12113041 |
| Bath & Body Works Inc. | &nbsp;&nbsp; 50683 | 1862600 |
| Baxter International Inc. | &nbsp;&nbsp; 119259 | 4271857 |
| Becton Dickinson and Co. | &nbsp;&nbsp; 72650 | 17513009 |
| Bentley Systems Inc., Class B | &nbsp;&nbsp; 41506 | 2023002 |
| Berkshire Hathaway Inc., Class B<sup>(a)</sup> | &nbsp;&nbsp; 319594 | 140141969 |
| Best Buy Co. Inc. | &nbsp;&nbsp; 48177 | 4168274 |
| Biogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 34676 | 7392923 |
| BioMarin Pharmaceutical Inc.<sup>(a)</sup> | &nbsp;&nbsp; 45650 | 3849665 |
| Bio-Rad Laboratories Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 5588 | 1890756 |
| Bio-Techne Corp. | &nbsp;&nbsp; 37643 | 3071292 |
| BlackRock Inc.<sup>(f)</sup> | &nbsp;&nbsp; 36088 | 31631132 |
| Blackstone Inc., NVS | &nbsp;&nbsp; 173341 | 24640423 |
| Block Inc.<sup>(a)</sup> | &nbsp;&nbsp; 133129 | 8238023 |
| Boeing Co. (The)<sup>(a)</sup> | &nbsp;&nbsp; 140270 | 26735462 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Booking Holdings Inc. | &nbsp;&nbsp; 8344 | $30998043 |
| Booz Allen Hamilton Holding Corp., Class A | &nbsp;&nbsp; 32746 | 4692829 |
| Boston Scientific Corp.<sup>(a)</sup> | &nbsp;&nbsp; 363874 | 26883011 |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp; 491862 | 23392957 |
| Broadcom Inc. | &nbsp;&nbsp; 1072720 | 172364650 |
| Broadridge Financial Solutions Inc. | &nbsp;&nbsp; 30363 | 6497682 |
| Brown & Brown Inc. | &nbsp;&nbsp; 57958 | 5762764 |
| Brown-Forman Corp., Class B  | &nbsp;&nbsp; 47294 | 2135797 |
| Builders FirstSource Inc.<sup>(a)</sup> | &nbsp;&nbsp; 29890 | 5002689 |
| Bunge Global SA | &nbsp;&nbsp; 34125 | 3590974 |
| Burlington Stores Inc.<sup>(a)</sup> | &nbsp;&nbsp; 15596 | 4059951 |
| BXP Inc. | &nbsp;&nbsp; 35418 | 2525658 |
| Cadence Design Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 68158 | 18243170 |
| Caesars Entertainment Inc.<sup>(a)</sup> | &nbsp;&nbsp; 48573 | 1940491 |
| Camden Property Trust | &nbsp;&nbsp; 24628 | 2727551 |
| Campbell Soup Co. | &nbsp;&nbsp; 51127 | 2395811 |
| Capital One Financial Corp. | &nbsp;&nbsp; 91996 | 13928194 |
| Cardinal Health Inc. | &nbsp;&nbsp; 60102 | 6060085 |
| Carlisle Companies Inc. | &nbsp;&nbsp; 11964 | 5007891 |
| Carlyle Group Inc. (The) | &nbsp;&nbsp; 55043 | 2737839 |
| CarMax Inc.<sup>(a)</sup> | &nbsp;&nbsp; 38202 | 3225777 |
| Carnival Corp.<sup>(a)</sup> | &nbsp;&nbsp; 245095 | 4083283 |
| Carrier Global Corp. | &nbsp;&nbsp; 196799 | 13403980 |
| Catalent Inc.<sup>(a)</sup> | &nbsp;&nbsp; 44185 | 2621938 |
| Caterpillar Inc. | &nbsp;&nbsp; 121250 | 41976750 |
| Cboe Global Markets Inc. | &nbsp;&nbsp; 24303 | 4459844 |
| CBRE Group Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 72292 | 8148031 |
| CDW Corp./DE | &nbsp;&nbsp; 33545 | 7316500 |
| Celanese Corp., Class A | &nbsp;&nbsp; 26167 | 3693472 |
| Celsius Holdings Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 35481 | 1661575 |
| Cencora Inc. | &nbsp;&nbsp; 42761 | 10171987 |
| Centene Corp.<sup>(a)</sup> | &nbsp;&nbsp; 128197 | 9860913 |
| CenterPoint Energy Inc. | &nbsp;&nbsp; 165187 | 4583939 |
| CF Industries Holdings Inc. | &nbsp;&nbsp; 45035 | 3440224 |
| CH Robinson Worldwide Inc. | &nbsp;&nbsp; 28520 | 2539706 |
| Charles River Laboratories International Inc.<sup>(a)</sup> | &nbsp;&nbsp; 11947 | 2916263 |
| Charles Schwab Corp. (The) | &nbsp;&nbsp; 365117 | 23801977 |
| Charter Communications Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 22752 | 8639389 |
| Cheniere Energy Inc. | &nbsp;&nbsp; 56295 | 10281719 |
| Chesapeake Energy Corp. | &nbsp;&nbsp; 28600 | 2183038 |
| Chevron Corp. | &nbsp;&nbsp; 425533 | 68285281 |
| Chipotle Mexican Grill Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 333953 | 18140327 |
| Chord Energy Corp. | &nbsp;&nbsp; 19129 | 3283684 |
| Chubb Ltd. | &nbsp;&nbsp; 98514 | 27156369 |
| Church & Dwight Co. Inc. | &nbsp;&nbsp; 59140 | 5796311 |
| Cigna Group (The) | &nbsp;&nbsp; 68702 | 23954326 |
| Cincinnati Financial Corp. | &nbsp;&nbsp; 37712 | 4925941 |
| Cintas Corp. | &nbsp;&nbsp; 22172 | 16938078 |
| Cisco Systems Inc. | &nbsp;&nbsp; 981690 | 47562880 |
| Citigroup Inc. | &nbsp;&nbsp; 463663 | 30082455 |
| Citizens Financial Group Inc. | &nbsp;&nbsp; 115138 | 4912938 |
| Cleveland-Cliffs Inc.<sup>(a)</sup> | &nbsp;&nbsp; 118875 | 1824731 |
| Clorox Co. (The) | &nbsp;&nbsp; 28778 | 3796682 |
| Cloudflare Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 70081 | 5431278 |
| CME Group Inc. | &nbsp;&nbsp; 85919 | 16643369 |
| CMS Energy Corp. | &nbsp;&nbsp; 67738 | 4389422 |
| CNH Industrial NV | &nbsp;&nbsp; 219240 | 2334906 |
| Coca-Cola Co. (The) | &nbsp;&nbsp; 992186 | 66218494 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp; 120856 | 9146382 |
| Coinbase Global Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 44765 | 10043475 |
| Colgate-Palmolive Co. | &nbsp;&nbsp; 188409 | 18688289 |
| Comcast Corp., Class A | &nbsp;&nbsp; 963112 | 39747632 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Conagra Brands Inc. | &nbsp;&nbsp; 117812 | $3572060 |
| Confluent Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 51626 | 1291683 |
| ConocoPhillips | &nbsp;&nbsp; 284648 | 31652858 |
| Consolidated Edison Inc. | &nbsp;&nbsp; 80539 | 7854163 |
| Constellation Brands Inc., Class A | &nbsp;&nbsp; 39193 | 9608556 |
| Constellation Energy Corp. | &nbsp;&nbsp; 75585 | 14346033 |
| Cooper Companies Inc. (The) | &nbsp;&nbsp; 49231 | 4594729 |
| Copart Inc.<sup>(a)</sup> | &nbsp;&nbsp; 208265 | 10898507 |
| Corning Inc. | &nbsp;&nbsp; 194401 | 7777984 |
| Corpay Inc.<sup>(a)</sup> | &nbsp;&nbsp; 16631 | 4853258 |
| Corteva Inc. | &nbsp;&nbsp; 165477 | 9283260 |
| CoStar Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 98209 | 7662266 |
| Costco Wholesale Corp. | &nbsp;&nbsp; 108243 | 88975746 |
| Coterra Energy Inc. | &nbsp;&nbsp; 179678 | 4635692 |
| Crowdstrike Holdings Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 54955 | 12747362 |
| Crown Castle Inc. | &nbsp;&nbsp; 104634 | 11518111 |
| Crown Holdings Inc. | &nbsp;&nbsp; 29423 | 2609820 |
| CSX Corp. | &nbsp;&nbsp; 478319 | 16788997 |
| Cummins Inc. | &nbsp;&nbsp; 33389 | 9742910 |
| CVS Health Corp. | &nbsp;&nbsp; 303673 | 18320592 |
| Danaher Corp. | &nbsp;&nbsp; 170193 | 47157076 |
| Darden Restaurants Inc. | &nbsp;&nbsp; 29958 | 4382556 |
| Datadog Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 65834 | 7665711 |
| DaVita Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 13489 | 1842867 |
| Dayforce Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 33451 | 1982975 |
| Deckers Outdoor Corp.<sup>(a)</sup> | &nbsp;&nbsp; 6104 | 5631734 |
| Deere & Co. | &nbsp;&nbsp; 64043 | 23822715 |
| Dell Technologies Inc., Class C | &nbsp;&nbsp; 63398 | 7207085 |
| Delta Air Lines Inc. | &nbsp;&nbsp; 37167 | 1598924 |
| Devon Energy Corp. | &nbsp;&nbsp; 152053 | 7151053 |
| Dexcom Inc.<sup>(a)</sup> | &nbsp;&nbsp; 91763 | 6223367 |
| Diamondback Energy Inc. | &nbsp;&nbsp; 40869 | 8268207 |
| Dick's Sporting Goods Inc. | &nbsp;&nbsp; 14350 | 3104623 |
| Digital Realty Trust Inc. | &nbsp;&nbsp; 75704 | 11316991 |
| Discover Financial Services | &nbsp;&nbsp; 61281 | 8823851 |
| DocuSign Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 50100 | 2779548 |
| Dollar General Corp. | &nbsp;&nbsp; 52994 | 6379948 |
| Dollar Tree Inc.<sup>(a)</sup> | &nbsp;&nbsp; 51167 | 5338765 |
| Dominion Energy Inc. | &nbsp;&nbsp; 201622 | 10778712 |
| Domino's Pizza Inc. | &nbsp;&nbsp; 8554 | 3667100 |
| DoorDash Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 67862 | 7513681 |
| Dover Corp. | &nbsp;&nbsp; 34492 | 6355496 |
| Dow Inc. | &nbsp;&nbsp; 181284 | 9874539 |
| DR Horton Inc. | &nbsp;&nbsp; 72196 | 12990226 |
| DraftKings Inc., Class A <sup>(a)</sup> | &nbsp;&nbsp; 103841 | 3836925 |
| DTE Energy Co. | &nbsp;&nbsp; 49492 | 5965271 |
| Duke Energy Corp. | &nbsp;&nbsp; 185171 | 20233635 |
| DuPont de Nemours Inc. | &nbsp;&nbsp; 101951 | 8533299 |
| Dynatrace Inc.<sup>(a)</sup> | &nbsp;&nbsp; 63538 | 2790589 |
| Eastman Chemical Co. | &nbsp;&nbsp; 27090 | 2799210 |
| Eaton Corp. PLC | &nbsp;&nbsp; 97527 | 29725254 |
| eBay Inc. | &nbsp;&nbsp; 126468 | 7032885 |
| Ecolab Inc. | &nbsp;&nbsp; 62650 | 14452728 |
| Edison International | &nbsp;&nbsp; 92004 | 7361240 |
| Edwards Lifesciences Corp.<sup>(a)</sup> | &nbsp;&nbsp; 144605 | 9117345 |
| Electronic Arts Inc. | &nbsp;&nbsp; 60975 | 9203566 |
| Elevance Health Inc. | &nbsp;&nbsp; 56011 | 29799532 |
| Eli Lilly & Co. | &nbsp;&nbsp; 196918 | 158375240 |
| EMCOR Group Inc. | &nbsp;&nbsp; 11057 | 4151240 |
| Emerson Electric Co. | &nbsp;&nbsp; 137203 | 16067843 |
| Enphase Energy Inc.<sup>(a)</sup> | &nbsp;&nbsp; 33268 | 3829479 |
| Entegris Inc. | &nbsp;&nbsp; 36637 | 4333791 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Entergy Corp. | &nbsp;&nbsp; 50765 | $5887217 |
| EOG Resources Inc. | &nbsp;&nbsp; 140552 | 17821994 |
| EPAM Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 14182 | 3050974 |
| EQT Corp. | &nbsp;&nbsp; 156089 | 5386631 |
| Equifax Inc. | &nbsp;&nbsp; 30080 | 8403450 |
| Equinix Inc. | &nbsp;&nbsp; 22892 | 18090174 |
| Equitable Holdings Inc. | &nbsp;&nbsp; 94642 | 4127338 |
| Equity LifeStyle Properties Inc. | &nbsp;&nbsp; 41604 | 2857363 |
| Equity Residential | &nbsp;&nbsp; 83213 | 5794121 |
| Erie Indemnity Co., Class A, NVS | &nbsp;&nbsp; 6294 | 2776598 |
| Essential Utilities Inc. | &nbsp;&nbsp; 56282 | 2287863 |
| Essex Property Trust Inc. | &nbsp;&nbsp; 15710 | 4373036 |
| Estee Lauder Companies Inc. (The), Class A | &nbsp;&nbsp; 54990 | 5477554 |
| Etsy Inc.<sup>(a)</sup> | &nbsp;&nbsp; 28879 | 1881178 |
| Everest Group Ltd. | &nbsp;&nbsp; 10536 | 4139278 |
| Evergy Inc. | &nbsp;&nbsp; 56882 | 3299156 |
| Eversource Energy | &nbsp;&nbsp; 86112 | 5589530 |
| Exact Sciences Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 41136 | 1879092 |
| Exelon Corp. | &nbsp;&nbsp; 236667 | 8804012 |
| Expedia Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 31789 | 4058502 |
| Expeditors International of Washington Inc. | &nbsp;&nbsp; 35375 | 4415508 |
| Extra Space Storage Inc. | &nbsp;&nbsp; 49863 | 7959132 |
| Exxon Mobil Corp. | &nbsp;&nbsp; 1088323 | 129064225 |
| F5 Inc.<sup>(a)</sup> | &nbsp;&nbsp; 14800 | 3013872 |
| FactSet Research Systems Inc. | &nbsp;&nbsp; 9937 | 4104875 |
| Fair Isaac Corp.<sup>(a)</sup> | &nbsp;&nbsp; 5995 | 9592000 |
| Fastenal Co. | &nbsp;&nbsp; 140534 | 9942780 |
| FedEx Corp. | &nbsp;&nbsp; 57258 | 17306230 |
| Ferguson PLC | &nbsp;&nbsp; 49371 | 10992453 |
| Fidelity National Financial Inc. | &nbsp;&nbsp; 72771 | 4032241 |
| Fidelity National Information Services Inc. | &nbsp;&nbsp; 139772 | 10738683 |
| Fifth Third Bancorp | &nbsp;&nbsp; 160698 | 6803953 |
| First Citizens BancShares Inc./NC, Class A | &nbsp;&nbsp; 2518 | 5256803 |
| First Solar Inc.<sup>(a)</sup> | &nbsp;&nbsp; 24473 | 5285923 |
| FirstEnergy Corp. | &nbsp;&nbsp; 145859 | 6112951 |
| Fiserv Inc.<sup>(a)</sup> | &nbsp;&nbsp; 143990 | 23552444 |
| Ford Motor Co. | &nbsp;&nbsp; 926925 | 10029328 |
| Fortinet Inc.<sup>(a)</sup> | &nbsp;&nbsp; 156288 | 9070956 |
| Fortive Corp. | &nbsp;&nbsp; 81895 | 5884156 |
| Fortune Brands Innovations Inc., NVS | &nbsp;&nbsp; 28667 | 2316580 |
| Fox Corp., Class A, NVS | &nbsp;&nbsp; 75452 | 2870194 |
| Fox Corp., Class B | &nbsp;&nbsp; 55150 | 1953965 |
| Franklin Resources Inc. | &nbsp;&nbsp; 70294 | 1607624 |
| Freeport-McMoRan Inc. | &nbsp;&nbsp; 345136 | 15672626 |
| Gaming and Leisure Properties Inc. | &nbsp;&nbsp; 76570 | 3843814 |
| Garmin Ltd. | &nbsp;&nbsp; 36478 | 6246858 |
| Gartner Inc.<sup>(a)</sup> | &nbsp;&nbsp; 18410 | 9226908 |
| GE HealthCare Technologies Inc., NVS<sup>(a)</sup> | &nbsp;&nbsp; 103369 | 8748118 |
| GE Vernova Inc.<sup>(a)</sup> | &nbsp;&nbsp; 66141 | 11788972 |
| Gen Digital Inc. | &nbsp;&nbsp; 139462 | 3624617 |
| General Dynamics Corp. | &nbsp;&nbsp; 55570 | 16599315 |
| General Electric Co. | &nbsp;&nbsp; 265430 | 45176186 |
| General Mills Inc. | &nbsp;&nbsp; 134691 | 9043154 |
| General Motors Co. | &nbsp;&nbsp; 281219 | 12463626 |
| Genuine Parts Co. | &nbsp;&nbsp; 34392 | 5059407 |
| Gilead Sciences Inc. | &nbsp;&nbsp; 299946 | 22813893 |
| Global Payments Inc. | &nbsp;&nbsp; 62885 | 6391631 |
| GoDaddy Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 32202 | 4683781 |
| Goldman Sachs Group Inc. (The) | &nbsp;&nbsp; 78493 | 39955292 |
| Graco Inc. | &nbsp;&nbsp; 41374 | 3518859 |
| Halliburton Co. | &nbsp;&nbsp; 209371 | 7260986 |
| Hartford Financial Services Group Inc. (The) | &nbsp;&nbsp; 75935 | 8422710 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| HCA Healthcare Inc. | &nbsp;&nbsp; 48468 | $17596307 |
| Healthpeak Properties Inc. | &nbsp;&nbsp; 166417 | 3631219 |
| HEICO Corp. | &nbsp;&nbsp; 11944 | 2882565 |
| HEICO Corp., Class A | &nbsp;&nbsp; 18079 | 3436999 |
| Henry Schein Inc.<sup>(a)</sup> | &nbsp;&nbsp; 31102 | 2237478 |
| Hershey Co. (The) | &nbsp;&nbsp; 35306 | 6972229 |
| Hess Corp. | &nbsp;&nbsp; 66325 | 10175581 |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp; 307220 | 6116750 |
| HF Sinclair Corp. | &nbsp;&nbsp; 35076 | 1805362 |
| Hilton Worldwide Holdings Inc. | &nbsp;&nbsp; 63228 | 13573155 |
| Hologic Inc.<sup>(a)</sup> | &nbsp;&nbsp; 59431 | 4850164 |
| Home Depot Inc. (The) | &nbsp;&nbsp; 241105 | 88765217 |
| Honeywell International Inc. | &nbsp;&nbsp; 158389 | 32430148 |
| Hormel Foods Corp. | &nbsp;&nbsp; 70510 | 2264076 |
| Host Hotels & Resorts Inc. | &nbsp;&nbsp; 168203 | 2945235 |
| Howmet Aerospace Inc. | &nbsp;&nbsp; 94878 | 9079825 |
| HP Inc. | &nbsp;&nbsp; 233768 | 8436687 |
| Hubbell Inc., Class B | &nbsp;&nbsp; 12725 | 5034646 |
| HubSpot Inc.<sup>(a)</sup> | &nbsp;&nbsp; 11608 | 5769524 |
| Humana Inc. | &nbsp;&nbsp; 29134 | 10535146 |
| Huntington Bancshares Inc./Ohio | &nbsp;&nbsp; 369150 | 5518793 |
| Huntington Ingalls Industries Inc. | &nbsp;&nbsp; 9826 | 2751083 |
| Hyatt Hotels Corp., Class A | &nbsp;&nbsp; 9450 | 1392269 |
| IDEX Corp. | &nbsp;&nbsp; 19678 | 4102469 |
| IDEXX Laboratories Inc.<sup>(a)</sup> | &nbsp;&nbsp; 20138 | 9588105 |
| Illinois Tool Works Inc. | &nbsp;&nbsp; 72187 | 17850401 |
| Illumina Inc.<sup>(a)</sup> | &nbsp;&nbsp; 38362 | 4703181 |
| Incyte Corp.<sup>(a)</sup> | &nbsp;&nbsp; 37768 | 2457564 |
| Ingersoll Rand Inc. | &nbsp;&nbsp; 97103 | 9749141 |
| Insulet Corp.<sup>(a)</sup> | &nbsp;&nbsp; 15875 | 3085306 |
| Intel Corp. | &nbsp;&nbsp; 1029552 | 31648428 |
| Intercontinental Exchange Inc. | &nbsp;&nbsp; 138345 | 20967568 |
| International Business Machines Corp. | &nbsp;&nbsp; 222089 | 42672180 |
| International Flavors & Fragrances Inc. | &nbsp;&nbsp; 62066 | 6174326 |
| International Paper Co. | &nbsp;&nbsp; 75266 | 3498364 |
| Interpublic Group of Companies Inc. (The) | &nbsp;&nbsp; 94075 | 3026393 |
| Intuit Inc. | &nbsp;&nbsp; 67918 | 43966717 |
| Intuitive Surgical Inc.<sup>(a)</sup> | &nbsp;&nbsp; 85414 | 37975919 |
| Invitation Homes Inc. | &nbsp;&nbsp; 156673 | 5525857 |
| IQVIA Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 44366 | 10924240 |
| Iron Mountain Inc. | &nbsp;&nbsp; 72074 | 7391909 |
| J.M. Smucker Co. (The) | &nbsp;&nbsp; 24244 | 2859580 |
| Jabil Inc. | &nbsp;&nbsp; 29432 | 3316103 |
| Jack Henry & Associates Inc. | &nbsp;&nbsp; 17949 | 3077895 |
| Jacobs Solutions Inc., NVS | &nbsp;&nbsp; 29487 | 4315422 |
| JB Hunt Transport Services Inc. | &nbsp;&nbsp; 20528 | 3554423 |
| Johnson & Johnson | &nbsp;&nbsp; 583812 | 92154724 |
| Johnson Controls International PLC | &nbsp;&nbsp; 164905 | 11797304 |
| JPMorgan Chase & Co. | &nbsp;&nbsp; 699730 | 148902544 |
| Juniper Networks Inc. | &nbsp;&nbsp; 75714 | 2853661 |
| Kellanova | &nbsp;&nbsp; 65208 | 3791845 |
| Kenvue Inc. | &nbsp;&nbsp; 459461 | 8495434 |
| Keurig Dr Pepper Inc. | &nbsp;&nbsp; 260411 | 8926889 |
| KeyCorp | &nbsp;&nbsp; 216673 | 3494935 |
| Keysight Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 41841 | 5839748 |
| Kimberly-Clark Corp. | &nbsp;&nbsp; 79695 | 10762810 |
| Kimco Realty Corp. | &nbsp;&nbsp; 161688 | 3513480 |
| Kinder Morgan Inc. | &nbsp;&nbsp; 504755 | 10665473 |
| KKR & Co. Inc. | &nbsp;&nbsp; 149666 | 18476268 |
| KLA Corp. | &nbsp;&nbsp; 32532 | 26776113 |
| Knight-Swift Transportation Holdings Inc. | &nbsp;&nbsp; 39538 | 2152053 |
| Kraft Heinz Co. (The) | &nbsp;&nbsp; 215242 | 7578671 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Kroger Co. (The) | &nbsp;&nbsp; 165405 | $9014572 |
| L3Harris Technologies Inc. | &nbsp;&nbsp; 45334 | 10285831 |
| Labcorp Holdings Inc. | &nbsp;&nbsp; 20332 | 4380326 |
| Lam Research Corp. | &nbsp;&nbsp; 31572 | 29085389 |
| Lamb Weston Holdings Inc. | &nbsp;&nbsp; 34200 | 2052684 |
| Las Vegas Sands Corp. | &nbsp;&nbsp; 84218 | 3340928 |
| Lattice Semiconductor Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 32451 | 1719903 |
| Leidos Holdings Inc. | &nbsp;&nbsp; 31590 | 4561596 |
| Lennar Corp., Class A | &nbsp;&nbsp; 60080 | 10629954 |
| Lennox International Inc. | &nbsp;&nbsp; 7871 | 4592729 |
| Liberty Media Corp.-Liberty Formula One, NVS<sup>(a)</sup> | &nbsp;&nbsp; 48426 | 3916211 |
| Linde PLC | &nbsp;&nbsp; 117227 | 53162444 |
| Live Nation Entertainment Inc.<sup>(a)</sup> | &nbsp;&nbsp; 39501 | 3799601 |
| LKQ Corp. | &nbsp;&nbsp; 66038 | 2740577 |
| Lockheed Martin Corp. | &nbsp;&nbsp; 52715 | 28567313 |
| Loews Corp. | &nbsp;&nbsp; 52314 | 4182504 |
| Lowe's Companies Inc. | &nbsp;&nbsp; 141459 | 34729599 |
| LPL Financial Holdings Inc. | &nbsp;&nbsp; 17451 | 3865746 |
| Lululemon Athletica Inc.<sup>(a)</sup> | &nbsp;&nbsp; 28246 | 7306110 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp; 63027 | 6268665 |
| M&T Bank Corp. | &nbsp;&nbsp; 41129 | 7081180 |
| Manhattan Associates Inc.<sup>(a)</sup> | &nbsp;&nbsp; 15056 | 3845001 |
| Marathon Oil Corp. | &nbsp;&nbsp; 149584 | 4195831 |
| Marathon Petroleum Corp. | &nbsp;&nbsp; 87290 | 15452076 |
| Markel Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3202 | 5247598 |
| MarketAxess Holdings Inc. | &nbsp;&nbsp; 9651 | 2157288 |
| Marriott International Inc./MD, Class A | &nbsp;&nbsp; 60616 | 13778017 |
| Marsh & McLennan Companies Inc. | &nbsp;&nbsp; 118962 | 26477372 |
| Martin Marietta Materials Inc. | &nbsp;&nbsp; 14878 | 8827861 |
| Marvell Technology Inc. | &nbsp;&nbsp; 206964 | 13862449 |
| Masco Corp. | &nbsp;&nbsp; 54300 | 4227255 |
| Mastercard Inc., Class A | &nbsp;&nbsp; 203348 | 94294501 |
| Match Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 60432 | 2304876 |
| McCormick & Co. Inc./MD, NVS | &nbsp;&nbsp; 59132 | 4553755 |
| McDonald's Corp. | &nbsp;&nbsp; 174807 | 46393778 |
| McKesson Corp. | &nbsp;&nbsp; 32243 | 19894576 |
| Medtronic PLC | &nbsp;&nbsp; 319615 | 25671477 |
| MercadoLibre Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 11065 | 18466378 |
| Merck & Co. Inc. | &nbsp;&nbsp; 615083 | 69584340 |
| Meta Platforms Inc., Class A | &nbsp;&nbsp; 533160 | 253160363 |
| MetLife Inc. | &nbsp;&nbsp; 152403 | 11712171 |
| Mettler-Toledo International Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5157 | 7843952 |
| MGM Resorts International<sup>(a)</sup> | &nbsp;&nbsp; 59762 | 2567973 |
| Microchip Technology Inc. | &nbsp;&nbsp; 130021 | 11543264 |
| Micron Technology Inc. | &nbsp;&nbsp; 266864 | 29307004 |
| Microsoft Corp. | &nbsp;&nbsp; 1716877 | 718255493 |
| MicroStrategy Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 3860 | 6231738 |
| Mid-America Apartment Communities Inc. | &nbsp;&nbsp; 27924 | 3902937 |
| Moderna Inc.<sup>(a)</sup> | &nbsp;&nbsp; 78573 | 9367473 |
| Molina Healthcare Inc.<sup>(a)</sup> | &nbsp;&nbsp; 14167 | 4834772 |
| Molson Coors Beverage Co., Class B | &nbsp;&nbsp; 45792 | 2420107 |
| Mondelez International Inc., Class A | &nbsp;&nbsp; 328297 | 22439100 |
| MongoDB Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 17600 | 4441536 |
| Monolithic Power Systems Inc. | &nbsp;&nbsp; 11836 | 10215533 |
| Monster Beverage Corp.<sup>(a)</sup> | &nbsp;&nbsp; 177048 | 9109120 |
| Moody's Corp. | &nbsp;&nbsp; 39669 | 18108105 |
| Morgan Stanley | &nbsp;&nbsp; 299522 | 30913666 |
| Mosaic Co. (The) | &nbsp;&nbsp; 76180 | 2267879 |
| Motorola Solutions Inc. | &nbsp;&nbsp; 40711 | 16240432 |
| MSCI Inc., Class A | &nbsp;&nbsp; 19386 | 10483173 |
| Nasdaq Inc. | &nbsp;&nbsp; 96267 | 6515351 |
| NetApp Inc. | &nbsp;&nbsp; 49325 | 6263289 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Netflix Inc.<sup>(a)</sup> | &nbsp;&nbsp; 106263 | $66770356 |
| Neurocrine Biosciences Inc.<sup>(a)</sup> | &nbsp;&nbsp; 23838 | 3374746 |
| Newmont Corp. | &nbsp;&nbsp; 291021 | 14280400 |
| News Corp., Class A, NVS | &nbsp;&nbsp; 95307 | 2628567 |
| NextEra Energy Inc. | &nbsp;&nbsp; 497849 | 38030685 |
| Nike Inc., Class B | &nbsp;&nbsp; 293501 | 21971485 |
| NiSource Inc. | &nbsp;&nbsp; 101668 | 3177125 |
| Nordson Corp. | &nbsp;&nbsp; 12034 | 3012471 |
| Norfolk Southern Corp. | &nbsp;&nbsp; 54517 | 13605263 |
| Northern Trust Corp. | &nbsp;&nbsp; 47545 | 4214864 |
| Northrop Grumman Corp. | &nbsp;&nbsp; 34183 | 16555511 |
| NRG Energy Inc. | &nbsp;&nbsp; 53916 | 4052866 |
| Nucor Corp. | &nbsp;&nbsp; 58272 | 9494840 |
| Nvidia Corp. | &nbsp;&nbsp; 6075430 | 710946819 |
| NVR Inc.<sup>(a)</sup> | &nbsp;&nbsp; 799 | 6877377 |
| NXP Semiconductors NV | &nbsp;&nbsp; 62105 | 16343552 |
| O'Reilly Automotive Inc.<sup>(a)</sup> | &nbsp;&nbsp; 14490 | 16320667 |
| Occidental Petroleum Corp. | &nbsp;&nbsp; 156875 | 9541137 |
| Okta Inc.<sup>(a)</sup> | &nbsp;&nbsp; 40003 | 3757882 |
| Old Dominion Freight Line Inc. | &nbsp;&nbsp; 47341 | 9950131 |
| Omnicom Group Inc. | &nbsp;&nbsp; 49022 | 4806117 |
| ON Semiconductor Corp.<sup>(a)</sup> | &nbsp;&nbsp; 103538 | 8101849 |
| ONEOK Inc. | &nbsp;&nbsp; 140309 | 11691949 |
| Oracle Corp. | &nbsp;&nbsp; 399609 | 55725475 |
| Otis Worldwide Corp. | &nbsp;&nbsp; 96898 | 9156861 |
| Ovintiv Inc. | &nbsp;&nbsp; 63552 | 2951355 |
| Owens Corning | &nbsp;&nbsp; 21716 | 4047428 |
| PACCAR Inc. | &nbsp;&nbsp; 125900 | 12421294 |
| Packaging Corp. of America | &nbsp;&nbsp; 21100 | 4217257 |
| Palantir Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 458907 | 12340009 |
| Palo Alto Networks Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 78180 | 25387391 |
| Paramount Global, Class B, NVS | &nbsp;&nbsp; 133399 | 1523417 |
| Parker-Hannifin Corp. | &nbsp;&nbsp; 30952 | 17369024 |
| Paychex Inc. | &nbsp;&nbsp; 77428 | 9912333 |
| Paycom Software Inc. | &nbsp;&nbsp; 11967 | 1995976 |
| Paylocity Holding Corp.<sup>(a)</sup> | &nbsp;&nbsp; 10880 | 1632762 |
| PayPal Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 241891 | 15911590 |
| Pentair PLC | &nbsp;&nbsp; 44348 | 3896859 |
| PepsiCo Inc. | &nbsp;&nbsp; 336817 | 58158191 |
| Pfizer Inc. | &nbsp;&nbsp; 1370044 | 41841144 |
| PG&E Corp. | &nbsp;&nbsp; 486034 | 8870120 |
| Philip Morris International Inc. | &nbsp;&nbsp; 375039 | 43189491 |
| Phillips 66 | &nbsp;&nbsp; 103681 | 15083512 |
| Pinterest Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 144009 | 4601088 |
| PNC Financial Services Group Inc. (The) | &nbsp;&nbsp; 96243 | 17429607 |
| Pool Corp. | &nbsp;&nbsp; 9465 | 3540289 |
| PPG Industries Inc. | &nbsp;&nbsp; 55052 | 6990503 |
| PPL Corp. | &nbsp;&nbsp; 197600 | 5872672 |
| Principal Financial Group Inc. | &nbsp;&nbsp; 57448 | 4682586 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp; 575371 | 92496642 |
| Progressive Corp. (The) | &nbsp;&nbsp; 140857 | 30160301 |
| Prologis Inc. | &nbsp;&nbsp; 223761 | 28205074 |
| Prudential Financial Inc. | &nbsp;&nbsp; 89677 | 11238322 |
| PTC Inc.<sup>(a)</sup> | &nbsp;&nbsp; 28508 | 5070148 |
| Public Service Enterprise Group Inc. | &nbsp;&nbsp; 117391 | 9364280 |
| Public Storage | &nbsp;&nbsp; 37968 | 11235491 |
| PulteGroup Inc. | &nbsp;&nbsp; 52181 | 6887892 |
| Pure Storage Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 73302 | 4392989 |
| Qorvo Inc.<sup>(a)</sup> | &nbsp;&nbsp; 24643 | 2952231 |
| Qualcomm Inc. | &nbsp;&nbsp; 274141 | 49605814 |
| Quanta Services Inc.<sup>(b)</sup> | &nbsp;&nbsp; 35086 | 9311123 |
| Quest Diagnostics Inc. | &nbsp;&nbsp; 27435 | 3904001 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Raymond James Financial Inc. | &nbsp;&nbsp; 49859 | $5783644 |
| Realty Income Corp. | &nbsp;&nbsp; 205925 | 11826273 |
| Regency Centers Corp. | &nbsp;&nbsp; 40705 | 2741075 |
| Regeneron Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 26162 | 28233769 |
| Regions Financial Corp. | &nbsp;&nbsp; 226395 | 5064456 |
| Reliance Inc. | &nbsp;&nbsp; 14026 | 4271759 |
| Repligen Corp.<sup>(a)</sup> | &nbsp;&nbsp; 13367 | 2236967 |
| Republic Services Inc., Class A | &nbsp;&nbsp; 53136 | 10325388 |
| ResMed Inc. | &nbsp;&nbsp; 35548 | 7580611 |
| Revvity Inc.<sup>(b)</sup> | &nbsp;&nbsp; 31324 | 3934608 |
| Rivian Automotive Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 171648 | 2816744 |
| Robinhood Markets Inc.<sup>(a)</sup> | &nbsp;&nbsp; 125628 | 2584168 |
| ROBLOX Corp., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 113820 | 4725806 |
| Rockwell Automation Inc. | &nbsp;&nbsp; 27330 | 7615505 |
| Roku Inc.<sup>(a)</sup> | &nbsp;&nbsp; 30784 | 1791937 |
| Rollins Inc. | &nbsp;&nbsp; 71148 | 3408701 |
| Roper Technologies Inc. | &nbsp;&nbsp; 26920 | 14664670 |
| Ross Stores Inc. | &nbsp;&nbsp; 80637 | 11549638 |
| Royal Caribbean Cruises Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 58226 | 9125179 |
| Royalty Pharma PLC, Class A | &nbsp;&nbsp; 85758 | 2415803 |
| RPM International Inc. | &nbsp;&nbsp; 30933 | 3757122 |
| RTX Corp. | &nbsp;&nbsp; 323466 | 38004020 |
| S&P Global Inc. | &nbsp;&nbsp; 77993 | 37805547 |
| Salesforce Inc. | &nbsp;&nbsp; 234828 | 60773486 |
| Samsara Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 49556 | 1897004 |
| SBA Communications Corp., Class A | &nbsp;&nbsp; 27198 | 5971049 |
| Schlumberger NV | &nbsp;&nbsp; 341563 | 16494077 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp; 48669 | 4972512 |
| SEI Investments Co. | &nbsp;&nbsp; 31334 | 2125699 |
| Sempra Energy | &nbsp;&nbsp; 159869 | 12799112 |
| ServiceNow Inc.<sup>(a)</sup> | &nbsp;&nbsp; 50413 | 41055843 |
| Sherwin-Williams Co. (The) | &nbsp;&nbsp; 58543 | 20536884 |
| Simon Property Group Inc. | &nbsp;&nbsp; 78061 | 11977680 |
| Skyworks Solutions Inc. | &nbsp;&nbsp; 38589 | 4384482 |
| Snap Inc., Class A, NVS<sup>(a)</sup> | &nbsp;&nbsp; 253093 | 3371199 |
| Snap-on Inc. | &nbsp;&nbsp; 13769 | 3952116 |
| Snowflake Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 72566 | 9461155 |
| Solventum Corp.<sup>(a)</sup> | &nbsp;&nbsp; 36205 | 2131750 |
| Southern Co. (The) | &nbsp;&nbsp; 261309 | 21824528 |
| Southwest Airlines Co. | &nbsp;&nbsp; 38984 | 1050229 |
| SS&C Technologies Holdings Inc. | &nbsp;&nbsp; 51932 | 3788439 |
| Stanley Black & Decker Inc. | &nbsp;&nbsp; 36374 | 3841822 |
| Starbucks Corp. | &nbsp;&nbsp; 272884 | 21271308 |
| State Street Corp. | &nbsp;&nbsp; 75691 | 6431464 |
| Steel Dynamics Inc. | &nbsp;&nbsp; 37398 | 4982162 |
| STERIS PLC | &nbsp;&nbsp; 24077 | 5748625 |
| Stryker Corp. | &nbsp;&nbsp; 84455 | 27654790 |
| Sun Communities Inc. | &nbsp;&nbsp; 32415 | 4107953 |
| Super Micro Computer Inc.<sup>(a)</sup> | &nbsp;&nbsp; 12726 | 8929198 |
| Synchrony Financial | &nbsp;&nbsp; 103028 | 5232792 |
| Synopsys Inc.<sup>(a)</sup> | &nbsp;&nbsp; 36589 | 20428370 |
| Sysco Corp. | &nbsp;&nbsp; 118558 | 9087471 |
| T-Mobile U.S. Inc. | &nbsp;&nbsp; 128727 | 23464358 |
| T Rowe Price Group Inc. | &nbsp;&nbsp; 52682 | 6016811 |
| Take-Two Interactive Software Inc.<sup>(a)</sup> | &nbsp;&nbsp; 38998 | 5870369 |
| Targa Resources Corp. | &nbsp;&nbsp; 48945 | 6621280 |
| Target Corp. | &nbsp;&nbsp; 111228 | 16729803 |
| TE Connectivity Ltd. | &nbsp;&nbsp; 74164 | 11445730 |
| Teledyne Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 11059 | 4665350 |
| Teleflex Inc. | &nbsp;&nbsp; 11842 | 2616135 |
| Teradyne Inc. | &nbsp;&nbsp; 36519 | 4789832 |
| Tesla Inc.<sup>(a)</sup> | &nbsp;&nbsp; 698724 | 162152879 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Texas Instruments Inc. | &nbsp;&nbsp; 220200 | $44878962 |
| Texas Pacific Land Corp. | &nbsp;&nbsp; 4814 | 4067349 |
| Textron Inc. | &nbsp;&nbsp; 47264 | 4390826 |
| Thermo Fisher Scientific Inc. | &nbsp;&nbsp; 92312 | 56618642 |
| TJX Companies Inc. (The) | &nbsp;&nbsp; 274142 | 30983529 |
| Toast Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 84230 | 2203457 |
| Toro Co. (The) | &nbsp;&nbsp; 24307 | 2326909 |
| Tractor Supply Co. | &nbsp;&nbsp; 26544 | 6989566 |
| Trade Desk Inc. (The), Class A<sup>(a)</sup> | &nbsp;&nbsp; 105690 | 9499417 |
| Tradeweb Markets Inc., Class A | &nbsp;&nbsp; 28098 | 3137985 |
| Trane Technologies PLC | &nbsp;&nbsp; 55511 | 18556217 |
| TransDigm Group Inc. | &nbsp;&nbsp; 13323 | 17242893 |
| TransUnion | &nbsp;&nbsp; 48408 | 4369306 |
| Travelers Companies Inc. (The) | &nbsp;&nbsp; 54883 | 11878877 |
| Trimble Inc.<sup>(a)</sup> | &nbsp;&nbsp; 62369 | 3401605 |
| Truist Financial Corp. | &nbsp;&nbsp; 318355 | 14227285 |
| Twilio Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 40726 | 2408128 |
| Tyler Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 10103 | 5739615 |
| Tyson Foods Inc., Class A | &nbsp;&nbsp; 66338 | 4039984 |
| U.S. Bancorp | &nbsp;&nbsp; 371927 | 16692084 |
| Uber Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 453693 | 29249588 |
| UDR Inc. | &nbsp;&nbsp; 70521 | 2825776 |
| U-Haul Holding Co.<sup>(b)</sup> | &nbsp;&nbsp; 19427 | 1238083 |
| UiPath Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 102650 | 1249251 |
| Ulta Beauty Inc.<sup>(a)</sup> | &nbsp;&nbsp; 11694 | 4267024 |
| Union Pacific Corp. | &nbsp;&nbsp; 150557 | 37146929 |
| United Parcel Service Inc., Class B | &nbsp;&nbsp; 175369 | 22862857 |
| United Rentals Inc. | &nbsp;&nbsp; 16325 | 12359657 |
| United Therapeutics Corp.<sup>(a)</sup> | &nbsp;&nbsp; 10401 | 3258529 |
| UnitedHealth Group Inc. | &nbsp;&nbsp; 224924 | 129592212 |
| Unity Software Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 68492 | 1120529 |
| Universal Health Services Inc., Class B | &nbsp;&nbsp; 14854 | 3175191 |
| Valero Energy Corp. | &nbsp;&nbsp; 79723 | 12892804 |
| Veeva Systems Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 36826 | 7068014 |
| Ventas Inc. | &nbsp;&nbsp; 96514 | 5254222 |
| Veralto Corp. | &nbsp;&nbsp; 59035 | 6290770 |
| VeriSign Inc.<sup>(a)</sup> | &nbsp;&nbsp; 21595 | 4038481 |
| Verisk Analytics Inc., Class A | &nbsp;&nbsp; 34932 | 9143451 |
| Verizon Communications Inc. | &nbsp;&nbsp; 1019113 | 41294459 |
| Vertex Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 62333 | 30899715 |
| Vertiv Holdings Co., Class A | &nbsp;&nbsp; 86957 | 6843516 |
| Viatris Inc. | &nbsp;&nbsp; 276694 | 3336930 |
| VICI Properties Inc., Class A | &nbsp;&nbsp; 243739 | 7619281 |
| Visa Inc., Class A<sup>(b)</sup> | &nbsp;&nbsp; 385724 | 102475295 |
| Vistra Corp. | &nbsp;&nbsp; 83027 | 6577399 |
| Vulcan Materials Co. | &nbsp;&nbsp; 31035 | 8519418 |
| W R Berkley Corp. | &nbsp;&nbsp; 74096 | 4084912 |
| Walmart Inc. | &nbsp;&nbsp; 1083259 | 74354898 |
| Walgreens Boots Alliance Inc. | &nbsp;&nbsp; 171899 | 2040441 |
| Walt Disney Co. (The) | &nbsp;&nbsp; 443630 | 41563695 |
| Warner Bros Discovery Inc.<sup>(a)</sup> | &nbsp;&nbsp; 556466 | 4813431 |
| Waste Connections Inc. | &nbsp;&nbsp; 62050 | 11030628 |
| Waste Management Inc. | &nbsp;&nbsp; 97139 | 19686190 |
| Waters Corp.<sup>(a)</sup> | &nbsp;&nbsp; 14204 | 4776521 |
| Watsco Inc. | &nbsp;&nbsp; 8341 | 4082836 |
| WEC Energy Group Inc. | &nbsp;&nbsp; 73740 | 6346064 |
| Wells Fargo & Co. | &nbsp;&nbsp; 862405 | 51175113 |
| Welltower Inc. | &nbsp;&nbsp; 136666 | 15204092 |
| West Pharmaceutical Services Inc. | &nbsp;&nbsp; 17496 | 5356750 |
| Western Digital Corp.<sup>(a)</sup> | &nbsp;&nbsp; 76928 | 5158022 |
| Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp; 43003 | 6929933 |
| Westlake Corp. | &nbsp;&nbsp; 8235 | 1217627 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Weyerhaeuser Co. | &nbsp;&nbsp; 167396 | $5316497 |
| Williams Companies Inc. (The) | &nbsp;&nbsp; 307971 | 13224275 |
| Williams-Sonoma Inc. | &nbsp;&nbsp; 28587 | 4421837 |
| Willis Towers Watson PLC | &nbsp;&nbsp; 25525 | 7205197 |
| Workday Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 50849 | 11548825 |
| WP Carey Inc. | &nbsp;&nbsp; 56114 | 3243950 |
| WW Grainger Inc. | &nbsp;&nbsp; 10996 | 10741003 |
| Wynn Resorts Ltd. | &nbsp;&nbsp; 25063 | 2075718 |
| Xcel Energy Inc. | &nbsp;&nbsp; 132583 | 7726937 |
| Xylem Inc./New York | &nbsp;&nbsp; 59052 | 7883442 |
| Yum! Brands Inc. | &nbsp;&nbsp; 68639 | 9117318 |
| Zebra Technologies Corp., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 12116 | 4255018 |
| Zillow Group Inc., Class C <sup>(a)(b)</sup> | &nbsp;&nbsp; 35426 | 1725246 |
| Zimmer Biomet Holdings Inc. | &nbsp;&nbsp; 48697 | 5422411 |
| Zoetis Inc. | &nbsp;&nbsp; 110358 | 19868854 |
| Zoom Video Communications Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 57886 | 3496314 |
| Zscaler Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 21093 | 3783030 |
|  |  | 11709673985 |
| **Total Common Stocks — 99.6%** <br>**(Cost: $13,510,856,774)** | **Total Common Stocks — 99.6%** <br>**(Cost: $13,510,856,774)** | 18148553248 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Brazil — 0.1%** | **Brazil — 0.1%** | **Brazil — 0.1%** |
| Banco Bradesco SA, Preference Shares, NVS | &nbsp;&nbsp; 1477382 | 3246706 |
| Cia. Energetica de Minas Gerais, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 619588 | 1189630 |
| Cia. Paranaense de Energia - Copel, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 271393 | 484138 |
| Gerdau SA, Preference Shares, NVS | &nbsp;&nbsp; 365868 | 1181148 |
| Itau Unibanco Holding SA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 1146013 | 6864549 |
| Itausa SA, Preference Shares, NVS | &nbsp;&nbsp; 1360257 | 2445800 |
| Petroleo Brasileiro SA, Preference Shares, NVS | &nbsp;&nbsp; 1198001 | 7923626 |
|  |  | 23335597 |
| **Chile — 0.0%** | **Chile — 0.0%** | **Chile — 0.0%** |
| Sociedad Quimica y Minera de Chile SA, Class B, <br> Preference Shares<br>| &nbsp;&nbsp; 34701 | 1315645 |
| **Colombia — 0.0%** | **Colombia — 0.0%** | **Colombia — 0.0%** |
| Bancolombia SA, Preference Shares, NVS | &nbsp;&nbsp; 149107 | 1247771 |
| **Germany — 0.1%** | **Germany — 0.1%** | **Germany — 0.1%** |
| Bayerische Motoren Werke AG, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 16166 | 1385937 |
| Dr Ing hc F Porsche AG, Preference <br> Shares, NVS<sup>(b)(c)</sup><br>| &nbsp;&nbsp; 29420 | 2215347 |
| Henkel AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 39700 | 3396008 |
| Porsche Automobil Holding SE, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 37270 | 1665949 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 6531 | 1852334 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 54323 | 6062608 |
|  |  | 16578183 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Surgutneftegas PJSC, Preference <br> Shares, NVS<sup>(a)(d)</sup><br>| &nbsp;&nbsp; 1929900 | 227 |
| **South Korea — 0.1%** | **South Korea — 0.1%** | **South Korea — 0.1%** |
| Hyundai Motor Co. |  |  |
| Preference Shares, NVS | &nbsp;&nbsp; 2023 | 244867 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| Series 2, Preference Shares, NVS | &nbsp;&nbsp; 7519 | $913844 |
| Samsung Electronics Co. Ltd., Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 206376 | 9824907 |
|  |  | 10983618 |
| **Total Preferred Stocks — 0.3%** <br>**(Cost: $51,223,532)** | **Total Preferred Stocks — 0.3%** <br>**(Cost: $51,223,532)** | 53461041 |
| **Rights** | **Rights** | **Rights** |
| **Brazil — 0.0%** | **Brazil — 0.0%** | **Brazil — 0.0%** |
| Localiza Rent a Car SA, (Expires 08/20/24)<sup>(a)</sup> | &nbsp;&nbsp; 2002 | 4102 |
| **India — 0.0%** | **India — 0.0%** | **India — 0.0%** |
| Tata Consumer Products Ltd.) | &nbsp;&nbsp; 6147 | 27234 |
| **Total Rights — 0.0%** <br>**(Cost: $—)** | **Total Rights — 0.0%** <br>**(Cost: $—)** | 31336 |
| **Warrants** | **Warrants** | **Warrants** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| Constellation Software Inc., (Issued 08/29/23, <br> 1 Share for 1 Warrant, Expires 03/31/40, Strike <br> Price CAD 11.50)<sup>(d)</sup><br>| &nbsp;&nbsp; 5990 |  |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** |  |
| **Total Long-Term Investments — 99.9%** <br>**(Cost: $13,562,080,306)** | **Total Long-Term Investments — 99.9%** <br>**(Cost: $13,562,080,306)** | 18202045625 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** | **Money Market Funds — 0.7%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 132717929 | 132771016 |
| **Total Short-Term Securities — 0.7%** <br>**(Cost: $132,654,667)** | **Total Short-Term Securities — 0.7%** <br>**(Cost: $132,654,667)** | 132771016 |
| **Total Investments — 100.6%** <br>**(Cost: $13,694,734,973)** | **Total Investments — 100.6%** <br>**(Cost: $13,694,734,973)** | 18334816641 |
| **Liabilities in Excess of Other Assets — (0.6)%** | **Liabilities in Excess of Other Assets — (0.6)%** | (115023605)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $18219793036 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, <br> SL Agency Shares<br>| $237079040 | $— | $(104306204 )<sup>(a)</sup><br>| &nbsp;&nbsp; $2694 | $(4514)<br>| $132771016 | 132717929 | $1038134 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<sup>(c)</sup><br>| 32270000 |  | (32270000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  |  | 1533644 | &nbsp;&nbsp; — |
| BlackRock Inc. | 30845510 | 879665 | (5458796)<br>| &nbsp;&nbsp; 2429311 | 2935442 | 31631132 | 36088 | 816154 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $2432005 | $2930928 | $164402148 |  | $3387932 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

<sup>(c)</sup> As of period end, the entity is no longer held.

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| MSCI EAFE Index | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $3107 | &nbsp;&nbsp; $80122 |
| MSCI Emerging Markets Index | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 1425 | &nbsp;&nbsp; 14342 |
| S&P 500 E-Mini Index | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 8337 | &nbsp;&nbsp; 81123 |
|  |  |  |  | &nbsp;&nbsp; $175587 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $175587 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $175587 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6892842 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6892842 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2688303)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2688303)<br>|

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI ETF**

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $34409800 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $12530879366 | &nbsp;&nbsp; $5617664945 | &nbsp;&nbsp; $8937 | &nbsp;&nbsp; $18148553248 |
| Preferred Stocks | &nbsp;&nbsp; 25899013 | &nbsp;&nbsp; 27561801 | &nbsp;&nbsp; 227 | &nbsp;&nbsp; 53461041 |
| Rights | &nbsp;&nbsp; 4102 | &nbsp;&nbsp; 27234 | &nbsp;&nbsp; — | &nbsp;&nbsp; 31336 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 132771016 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 132771016 |
|  | &nbsp;&nbsp; $12689553497 | &nbsp;&nbsp; $5645253980 | &nbsp;&nbsp; $9164 | &nbsp;&nbsp; $18334816641 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $175587 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $175587 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 1.6%** | **Australia — 1.6%** | **Australia — 1.6%** |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 45098 | $857991 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 17770 | 632862 |
| Brambles Ltd. | &nbsp;&nbsp; 99329 | 1012627 |
| CAR Group Ltd. | &nbsp;&nbsp; 11008 | 251759 |
| Cochlear Ltd. | &nbsp;&nbsp; 1481 | 334640 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 14344 | 1292539 |
| Computershare Ltd. | &nbsp;&nbsp; 35408 | 638619 |
| CSL Ltd. | &nbsp;&nbsp; 7207 | 1462755 |
| Dexus | &nbsp;&nbsp; 8129 | 37479 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 24207 | 87065 |
| Goodman Group | &nbsp;&nbsp; 37235 | 859610 |
| GPT Group (The) | &nbsp;&nbsp; 74986 | 228409 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 2514 | 345991 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 14787 | 528824 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 14830 | 374556 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 1788 | 168696 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 5759 | 67968 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 5906 | 179859 |
| REA Group Ltd. | &nbsp;&nbsp; 2020 | 271588 |
| Scentre Group | &nbsp;&nbsp; 270839 | 617629 |
| SEEK Ltd. | &nbsp;&nbsp; 16968 | 245724 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 21406 | 387944 |
| Stockland | &nbsp;&nbsp; 47744 | 144206 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 34807 | 404984 |
| Telstra Group Ltd. | &nbsp;&nbsp; 282552 | 730189 |
| Transurban Group | &nbsp;&nbsp; 174497 | 1489122 |
| Vicinity Ltd. | &nbsp;&nbsp; 100972 | 140008 |
| Westpac Banking Corp. | &nbsp;&nbsp; 39281 | 767661 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 5464 | 342380 |
| Xero Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3489 | 317908 |
|  |  | 15221592 |
| **Austria — 0.1%** | **Austria — 0.1%** | **Austria — 0.1%** |
| Erste Group Bank AG | &nbsp;&nbsp; 984 | 51184 |
| Verbund AG | &nbsp;&nbsp; 8482 | 681067 |
|  |  | 732251 |
| **Belgium — 0.2%** | **Belgium — 0.2%** | **Belgium — 0.2%** |
| Ageas SA/NV | &nbsp;&nbsp; 6963 | 332422 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 15275 | 906940 |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 226 | 115551 |
| Elia Group SA/NV | &nbsp;&nbsp; 2165 | 224857 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 3479 | 259635 |
| KBC Group NV | &nbsp;&nbsp; 3408 | 263595 |
| Lotus Bakeries NV | &nbsp;&nbsp; 7 | 76061 |
| UCB SA | &nbsp;&nbsp; 1349 | 225410 |
|  |  | 2404471 |
| **Brazil — 0.2%** | **Brazil — 0.2%** | **Brazil — 0.2%** |
| B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp; 52570 | 100843 |
| Banco BTG Pactual SA | &nbsp;&nbsp; 7371 | 42497 |
| Banco do Brasil SA | &nbsp;&nbsp; 131430 | 616933 |
| BB Seguridade Participacoes SA | &nbsp;&nbsp; 44501 | 276708 |
| Caixa Seguridade Participacoes S/A | &nbsp;&nbsp; 19895 | 50721 |
| CCR SA | &nbsp;&nbsp; 79152 | 173245 |
| Hapvida Participacoes e Investimentos SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 163907 | 117943 |
| Hypera SA | &nbsp;&nbsp; 29952 | 152510 |
| Raia Drogasil SA | &nbsp;&nbsp; 40070 | 195527 |
| Rede D'Or Sao Luiz SA<sup>(b)</sup> | &nbsp;&nbsp; 7491 | 36540 |
| Telefonica Brasil SA | &nbsp;&nbsp; 32208 | 276232 |
| TIM SA/Brazil | &nbsp;&nbsp; 59502 | 183993 |
|  |  | 2223692 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada — 3.3%** | **Canada — 3.3%** | **Canada — 3.3%** |
| Agnico Eagle Mines Ltd. | &nbsp;&nbsp; 3701 | $285567 |
| Bank of Montreal | &nbsp;&nbsp; 5023 | 423662 |
| Bank of Nova Scotia (The) | &nbsp;&nbsp; 13922 | 650093 |
| BCE Inc. | &nbsp;&nbsp; 18540 | 625363 |
| Brookfield Renewable Corp., Class A | &nbsp;&nbsp; 15972 | 448972 |
| CAE Inc.<sup>(a)</sup> | &nbsp;&nbsp; 57047 | 1037932 |
| Cameco Corp. | &nbsp;&nbsp; 25982 | 1182565 |
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp; 3546 | 183381 |
| Canadian National Railway Co. | &nbsp;&nbsp; 8949 | 1035975 |
| Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp; 11330 | 950123 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 396 | 1249477 |
| Dollarama Inc. | &nbsp;&nbsp; 9579 | 897990 |
| Element Fleet Management Corp. | &nbsp;&nbsp; 28161 | 538683 |
| Fairfax Financial Holdings Ltd. | &nbsp;&nbsp; 843 | 994168 |
| Franco-Nevada Corp. | &nbsp;&nbsp; 11052 | 1424236 |
| Hydro One Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 48334 | 1514803 |
| Ivanhoe Mines Ltd., Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 100745 | 1317095 |
| Loblaw Companies Ltd. | &nbsp;&nbsp; 2514 | 310005 |
| Lundin Mining Corp. | &nbsp;&nbsp; 28582 | 288584 |
| Manulife Financial Corp. | &nbsp;&nbsp; 72724 | 1937340 |
| Open Text Corp. | &nbsp;&nbsp; 6887 | 217088 |
| Pembina Pipeline Corp. | &nbsp;&nbsp; 72200 | 2798263 |
| Power Corp. of Canada | &nbsp;&nbsp; 7047 | 203961 |
| Quebecor Inc., Class B | &nbsp;&nbsp; 21462 | 474118 |
| RB Global Inc. | &nbsp;&nbsp; 3749 | 298665 |
| Restaurant Brands International Inc. | &nbsp;&nbsp; 5150 | 360591 |
| RioCan REIT | &nbsp;&nbsp; 6407 | 82973 |
| Rogers Communications Inc., Class B, NVS | &nbsp;&nbsp; 8024 | 310290 |
| Royal Bank of Canada | &nbsp;&nbsp; 20178 | 2254780 |
| Shopify Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 13413 | 821499 |
| Stantec Inc. | &nbsp;&nbsp; 8586 | 755461 |
| Sun Life Financial Inc. | &nbsp;&nbsp; 8833 | 438499 |
| TC Energy Corp. | &nbsp;&nbsp; 17663 | 749940 |
| TELUS Corp. | &nbsp;&nbsp; 5178 | 83597 |
| Thomson Reuters Corp. | &nbsp;&nbsp; 7274 | 1178834 |
| TMX Group Ltd. | &nbsp;&nbsp; 5384 | 163628 |
| Toronto-Dominion Bank (The) | &nbsp;&nbsp; 18800 | 1110176 |
| Wheaton Precious Metals Corp. | &nbsp;&nbsp; 23915 | 1429894 |
| WSP Global Inc. | &nbsp;&nbsp; 2353 | 390857 |
|  |  | 31419128 |
| **Chile — 0.1%** | **Chile — 0.1%** | **Chile — 0.1%** |
| Banco de Chile | &nbsp;&nbsp; 2438999 | 290570 |
| Banco de Credito e Inversiones SA | &nbsp;&nbsp; 6930 | 202645 |
| Cia. Sud Americana de Vapores SA | &nbsp;&nbsp; 4113305 | 282685 |
| Falabella SA<sup>(a)</sup> | &nbsp;&nbsp; 14428 | 47793 |
|  |  | 823693 |
| **China — 2.9%** | **China — 2.9%** | **China — 2.9%** |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp; 209268 | 2059244 |
| Alibaba Health Information Technology Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 124000 | 52450 |
| Anhui Gujing Distillery Co. Ltd., Class B | &nbsp;&nbsp; 8400 | 112000 |
| ANTA Sports Products Ltd. | &nbsp;&nbsp; 20400 | 182597 |
| BAIC BluePark New Energy Technology Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 76800 | 101860 |
| Baidu Inc.<sup>(a)</sup> | &nbsp;&nbsp; 24540 | 272090 |
| Bank of Beijing Co. Ltd., Class A | &nbsp;&nbsp; 355200 | 262040 |
| Bank of Changsha Co. Ltd., Class A | &nbsp;&nbsp; 59700 | 62177 |
| Bank of Chengdu Co. Ltd., Class A | &nbsp;&nbsp; 56700 | 114531 |
| Bank of China Ltd., Class H | &nbsp;&nbsp; 1183586 | 527037 |
| Bank of Communications Co. Ltd., Class H | &nbsp;&nbsp; 10000 | 7266 |
| Bank of Jiangsu Co. Ltd., Class A | &nbsp;&nbsp; 306300 | 326093 |
| Bank of Nanjing Co. Ltd., Class A | &nbsp;&nbsp; 151200 | 211177 |
| Bank of Ningbo Co. Ltd., Class A | &nbsp;&nbsp; 30200 | 89927 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Bank of Shanghai Co. Ltd., Class A | &nbsp;&nbsp; 216300 | $218242 |
| Bank of Suzhou Co. Ltd. | &nbsp;&nbsp; 50300 | 50120 |
| Beijing Enterprises Water Group Ltd. | &nbsp;&nbsp; 234000 | 72201 |
| Beijing-Shanghai High Speed Railway Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 160500 | 127133 |
| BOC Aviation Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 57700 | 506260 |
| BYD Co. Ltd., Class H | &nbsp;&nbsp; 26500 | 784526 |
| CGN Power Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 1648000 | 672992 |
| Changzhou Xingyu Automotive Lighting Systems Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 4600 | 79394 |
| China CITIC Bank Corp. Ltd., Class H | &nbsp;&nbsp; 1458000 | 872511 |
| China Construction Bank Corp., Class H | &nbsp;&nbsp; 1132000 | 790460 |
| China Everbright Bank Co. Ltd., Class A | &nbsp;&nbsp; 429200 | 187713 |
| China Everbright Bank Co. Ltd., Class H | &nbsp;&nbsp; 803000 | 242450 |
| China Galaxy Securities Co. Ltd., Class H | &nbsp;&nbsp; 289295 | 148066 |
| China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 278000 | 385685 |
| China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp; 61000 | 252834 |
| China Merchants Port Holdings Co. Ltd. | &nbsp;&nbsp; 302000 | 444071 |
| China Minsheng Banking Corp. Ltd., Class H | &nbsp;&nbsp; 950500 | 336867 |
| China National Nuclear Power Co. Ltd., Class A | &nbsp;&nbsp; 281098 | 429412 |
| China Oilfield Services Ltd., Class H | &nbsp;&nbsp; 456000 | 401688 |
| China Pacific Insurance Group Co. Ltd., Class H | &nbsp;&nbsp; 57600 | 153102 |
| China Ruyi Holdings Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 200000 | 53463 |
| China Three Gorges Renewables Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 81800 | 55039 |
| China Tourism Group Duty Free Corp. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 14600 | 103156 |
| China Tower Corp. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 1149843 | 141084 |
| China Vanke Co. Ltd., Class H<sup>(a)</sup> | &nbsp;&nbsp; 131800 | 72273 |
| China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp; 197500 | 816321 |
| China Zhenhua Group Science & Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 6200 | 34855 |
| China Zheshang Bank Co. Ltd., Class A | &nbsp;&nbsp; 335150 | 130878 |
| Chongqing Rural Commercial Bank Co. Ltd., Class A | &nbsp;&nbsp; 133900 | 95784 |
| Chow Tai Fook Jewellery Group Ltd. | &nbsp;&nbsp; 27800 | 25247 |
| CITIC Ltd. | &nbsp;&nbsp; 1018000 | 938563 |
| CITIC Securities Co. Ltd., Class H | &nbsp;&nbsp; 17000 | 25566 |
| COSCO Shipping Energy Transportation Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 54400 | 115964 |
| COSCO Shipping Energy Transportation Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 336000 | 403397 |
| DaShenLin Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp; 13400 | 24398 |
| Eve Energy Co. Ltd., Class A | &nbsp;&nbsp; 7600 | 40434 |
| Far East Horizon Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 462000 | 315181 |
| Focus Media Information Technology Co. Ltd., Class A | &nbsp;&nbsp; 171600 | 137668 |
| H World Group Ltd., ADR | &nbsp;&nbsp; 1791 | 53730 |
| Huatai Securities Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 31000 | 34298 |
| Huaxia Bank Co. Ltd., Class A | &nbsp;&nbsp; 113300 | 98476 |
| Industrial Bank Co. Ltd., Class A | &nbsp;&nbsp; 174898 | 405547 |
| JD Health International Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 78800 | 218713 |
| Jiangsu Expressway Co. Ltd., Class H | &nbsp;&nbsp; 306000 | 291005 |
| Jiangsu Hengli Hydraulic Co. Ltd., Class A | &nbsp;&nbsp; 8900 | 56424 |
| Jiangsu Pacific Quartz Co. Ltd., NVS | &nbsp;&nbsp; 9150 | 36110 |
| Kuaishou Technology<sup>(a)(b)</sup> | &nbsp;&nbsp; 22100 | 123775 |
| Kuang-Chi Technologies Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 34900 | 87132 |
| Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp; 1300 | 255674 |
| Li Auto Inc.<sup>(a)</sup> | &nbsp;&nbsp; 82980 | 811728 |
| Li Ning Co. Ltd. | &nbsp;&nbsp; 51500 | 95925 |
| Luzhou Laojiao Co. Ltd., Class A | &nbsp;&nbsp; 4000 | 72389 |
| Meituan, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 54300 | 751874 |
| MINISO Group Holding Ltd. | &nbsp;&nbsp; 15800 | 66050 |
| MMG Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 151200 | 46930 |
| NARI Technology Co. Ltd., Class A | &nbsp;&nbsp; 87300 | 290165 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| NetEase Inc. | &nbsp;&nbsp; 30200 | $556996 |
| New China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 15200 | 29646 |
| New Oriental Education & Technology Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 23600 | 152754 |
| Ningbo Deye Technology Co. Ltd., NVS | &nbsp;&nbsp; 7980 | 107250 |
| NIO Inc., ADR<sup>(a)(c)</sup> | &nbsp;&nbsp; 20104 | 89262 |
| Nongfu Spring Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 18400 | 71478 |
| Offshore Oil Engineering Co. Ltd., Class A | &nbsp;&nbsp; 22500 | 17130 |
| PDD Holdings Inc., ADR<sup>(a)</sup> | &nbsp;&nbsp; 8639 | 1113481 |
| People's Insurance Co. Group of China Ltd. (The), <br> Class H<br>| &nbsp;&nbsp; 269151 | 90559 |
| Ping An Bank Co. Ltd., Class A | &nbsp;&nbsp; 119000 | 169329 |
| Ping An Insurance Group Co. of China Ltd., Class H | &nbsp;&nbsp; 157500 | 683962 |
| Qifu Technology Inc. | &nbsp;&nbsp; 656 | 13323 |
| Shanghai Baosight Software Co. Ltd., Class B | &nbsp;&nbsp; 67200 | 109964 |
| Shanghai International Airport Co. Ltd., Class A | &nbsp;&nbsp; 7800 | 37327 |
| Shanghai International Port Group Co. Ltd., Class A | &nbsp;&nbsp; 47200 | 39443 |
| Shanghai Putailai New Energy Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 30910 | 55640 |
| Shanghai Rural Commercial Bank Co. Ltd. | &nbsp;&nbsp; 166600 | 153548 |
| Shanxi Xinghuacun Fen Wine Factory Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 4100 | 104610 |
| Shenzhen Inovance Technology Co. Ltd., Class A | &nbsp;&nbsp; 4700 | 30326 |
| Sichuan Chuantou Energy Co. Ltd., Class A | &nbsp;&nbsp; 77100 | 199892 |
| Smoore International Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 35000 | 40865 |
| Sunny Optical Technology Group Co. Ltd. | &nbsp;&nbsp; 4600 | 25797 |
| TAL Education Group, ADR<sup>(a)</sup> | &nbsp;&nbsp; 7915 | 79308 |
| Tencent Holdings Ltd. | &nbsp;&nbsp; 87100 | 4019356 |
| Tencent Music Entertainment Group, ADR | &nbsp;&nbsp; 906 | 12847 |
| TravelSky Technology Ltd., Class H | &nbsp;&nbsp; 111000 | 125134 |
| Trip.com Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3710 | 158386 |
| Weihai Guangwei Composites Co. Ltd., Class A | &nbsp;&nbsp; 11500 | 44985 |
| Wuliangye Yibin Co. Ltd., Class A | &nbsp;&nbsp; 5900 | 103698 |
| WuXi AppTec Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 15000 | 61361 |
| Wuxi Biologics Cayman Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 68000 | 99461 |
| XPeng Inc.<sup>(a)</sup> | &nbsp;&nbsp; 20200 | 81649 |
| Yintai Gold Co. Ltd., Class A | &nbsp;&nbsp; 41200 | 101930 |
| Yunnan Energy New Material Co. Ltd., Class A | &nbsp;&nbsp; 13900 | 59345 |
| Zhejiang Expressway Co. Ltd., Class H | &nbsp;&nbsp; 430720 | 282646 |
| ZTO Express Cayman Inc., ADR | &nbsp;&nbsp; 1755 | 33257 |
|  |  | 28017377 |
| **Colombia — 0.1%** | **Colombia — 0.1%** | **Colombia — 0.1%** |
| Bancolombia SA | &nbsp;&nbsp; 9836 | 88672 |
| Interconexion Electrica SA ESP | &nbsp;&nbsp; 115786 | 500186 |
|  |  | 588858 |
| **Denmark — 0.8%** | **Denmark — 0.8%** | **Denmark — 0.8%** |
| Coloplast A/S, Class B | &nbsp;&nbsp; 1627 | 211511 |
| Danske Bank A/S | &nbsp;&nbsp; 20868 | 638195 |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 530 | 149710 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 43625 | 5780002 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 3877 | 246799 |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 19596 | 484943 |
|  |  | 7511160 |
| **Egypt — 0.0%** | **Egypt — 0.0%** | **Egypt — 0.0%** |
| Commercial International Bank - Egypt (CIB) | &nbsp;&nbsp; 80520 | 138108 |
| Eastern Co. SAE | &nbsp;&nbsp; 303013 | 139458 |
| Talaat Moustafa Group | &nbsp;&nbsp; 35826 | 41499 |
|  |  | 319065 |
| **Finland — 0.1%** | **Finland — 0.1%** | **Finland — 0.1%** |
| Nordea Bank Abp | &nbsp;&nbsp; 35652 | 417190 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 6384 | 279843 |
|  |  | 697033 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France — 2.2%** | **France — 2.2%** | **France — 2.2%** |
| Aeroports de Paris SA | &nbsp;&nbsp; 4241 | $557209 |
| AXA SA | &nbsp;&nbsp; 30997 | 1088299 |
| BioMerieux | &nbsp;&nbsp; 515 | 54346 |
| BNP Paribas SA | &nbsp;&nbsp; 15854 | 1086216 |
| Bureau Veritas SA | &nbsp;&nbsp; 5587 | 174813 |
| Capgemini SE | &nbsp;&nbsp; 345 | 68491 |
| Credit Agricole SA | &nbsp;&nbsp; 14908 | 226236 |
| Dassault Systemes SE | &nbsp;&nbsp; 5665 | 214753 |
| Edenred SE | &nbsp;&nbsp; 2224 | 92605 |
| EssilorLuxottica SA | &nbsp;&nbsp; 5211 | 1192483 |
| Eurazeo SE | &nbsp;&nbsp; 1510 | 118800 |
| Getlink SE | &nbsp;&nbsp; 26615 | 474275 |
| Hermes International SCA | &nbsp;&nbsp; 698 | 1525364 |
| Kering SA | &nbsp;&nbsp; 1632 | 501249 |
| Klepierre SA | &nbsp;&nbsp; 22749 | 651408 |
| Legrand SA | &nbsp;&nbsp; 8444 | 912348 |
| L'Oreal SA | &nbsp;&nbsp; 4511 | 1950770 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 3934 | 2774895 |
| Orange SA | &nbsp;&nbsp; 13507 | 149891 |
| Pernod Ricard SA | &nbsp;&nbsp; 4795 | 641605 |
| Publicis Groupe SA | &nbsp;&nbsp; 4411 | 460493 |
| Remy Cointreau SA | &nbsp;&nbsp; 547 | 43161 |
| Sanofi SA | &nbsp;&nbsp; 16905 | 1742778 |
| Schneider Electric SE | &nbsp;&nbsp; 12523 | 3018483 |
| Societe Generale SA | &nbsp;&nbsp; 13220 | 342887 |
| Teleperformance SE | &nbsp;&nbsp; 2595 | 334068 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 6022 | 450332 |
| Vivendi SE | &nbsp;&nbsp; 16436 | 175385 |
|  |  | 21023643 |
| **Germany — 1.4%** | **Germany — 1.4%** | **Germany — 1.4%** |
| Allianz SE, Registered | &nbsp;&nbsp; 7732 | 2177837 |
| Commerzbank AG | &nbsp;&nbsp; 13335 | 217394 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 2332 | 205411 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 63361 | 986244 |
| Deutsche Boerse AG | &nbsp;&nbsp; 3405 | 697237 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 59018 | 1543762 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 2599 | 100290 |
| Fresenius SE & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 7983 | 286037 |
| Infineon Technologies AG | &nbsp;&nbsp; 15610 | 542262 |
| LEG Immobilien SE | &nbsp;&nbsp; 160 | 13957 |
| Muenchener Rueckversicherungs-Gesellschaft AG in <br> Muenchen, Registered<br>| &nbsp;&nbsp; 1377 | 678207 |
| Rheinmetall AG | &nbsp;&nbsp; 899 | 489646 |
| SAP SE | &nbsp;&nbsp; 15298 | 3234307 |
| Scout24 SE<sup>(b)</sup> | &nbsp;&nbsp; 5806 | 459007 |
| Siemens AG, Registered | &nbsp;&nbsp; 8433 | 1544057 |
| Symrise AG, Class A | &nbsp;&nbsp; 1466 | 184762 |
| Vonovia SE | &nbsp;&nbsp; 11223 | 344099 |
|  |  | 13704516 |
| **Greece — 0.0%** | **Greece — 0.0%** | **Greece — 0.0%** |
| OPAP SA | &nbsp;&nbsp; 2172 | 37869 |
| **Hong Kong — 0.4%** | **Hong Kong — 0.4%** | **Hong Kong — 0.4%** |
| AIA Group Ltd. | &nbsp;&nbsp; 137800 | 921724 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 126000 | 481455 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 56000 | 235420 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 27000 | 75838 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 48000 | 58136 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 1400 | 41296 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 37900 | 122402 |
| Link REIT | &nbsp;&nbsp; 90200 | 380556 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 114000 | 368801 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 64000 | $407902 |
| Sands China Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 65200 | 122226 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 85000 | 735974 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 10500 | 134470 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 45000 | 110629 |
|  |  | 4196829 |
| **India — 2.0%** | **India — 2.0%** | **India — 2.0%** |
| ABB India Ltd. | &nbsp;&nbsp; 3982 | 376322 |
| Adani Green Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 14086 | 311630 |
| Adani Ports & Special Economic Zone Ltd. | &nbsp;&nbsp; 25523 | 479972 |
| Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp; 2199 | 174107 |
| Asian Paints Ltd. | &nbsp;&nbsp; 18946 | 699256 |
| Astral Ltd. | &nbsp;&nbsp; 4868 | 127439 |
| Avenue Supermarts Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 9653 | 569546 |
| Axis Bank Ltd. | &nbsp;&nbsp; 6055 | 84584 |
| Bandhan Bank Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 21472 | 56070 |
| Bharat Electronics Ltd. | &nbsp;&nbsp; 422516 | 1598753 |
| Bharti Airtel Ltd. | &nbsp;&nbsp; 68005 | 1214836 |
| Colgate-Palmolive India Ltd. | &nbsp;&nbsp; 8499 | 346847 |
| Container Corp. of India Ltd. | &nbsp;&nbsp; 19461 | 242571 |
| Dabur India Ltd. | &nbsp;&nbsp; 11355 | 86330 |
| DLF Ltd. | &nbsp;&nbsp; 40632 | 432585 |
| Godrej Consumer Products Ltd. | &nbsp;&nbsp; 14591 | 251616 |
| HCL Technologies Ltd. | &nbsp;&nbsp; 16516 | 324984 |
| HDFC Bank Ltd. | &nbsp;&nbsp; 20473 | 395625 |
| Hindustan Unilever Ltd. | &nbsp;&nbsp; 23150 | 748960 |
| ICICI Bank Ltd. | &nbsp;&nbsp; 39861 | 581032 |
| Indian Hotels Co. Ltd., Class A | &nbsp;&nbsp; 43074 | 331010 |
| Info Edge India Ltd. | &nbsp;&nbsp; 1057 | 88887 |
| Infosys Ltd. | &nbsp;&nbsp; 47277 | 1048358 |
| ITC Ltd. | &nbsp;&nbsp; 149693 | 887480 |
| Jio Financial Services Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 22775 | 89683 |
| Kotak Mahindra Bank Ltd. | &nbsp;&nbsp; 10587 | 229356 |
| Macrotech Developers Ltd. | &nbsp;&nbsp; 9064 | 141938 |
| Max Healthcare Institute Ltd. | &nbsp;&nbsp; 28931 | 319486 |
| Muthoot Finance Ltd. | &nbsp;&nbsp; 1779 | 39113 |
| Nestle India Ltd., NVS | &nbsp;&nbsp; 4059 | 119278 |
| NHPC Ltd., NVS | &nbsp;&nbsp; 370135 | 465951 |
| Phoenix Mills Ltd. (The) | &nbsp;&nbsp; 6790 | 292208 |
| PI Industries Ltd. | &nbsp;&nbsp; 9815 | 520153 |
| Pidilite Industries Ltd. | &nbsp;&nbsp; 6979 | 265760 |
| Power Finance Corp. Ltd. | &nbsp;&nbsp; 71230 | 475469 |
| Power Grid Corp. of India Ltd. | &nbsp;&nbsp; 373312 | 1554915 |
| Siemens Ltd. | &nbsp;&nbsp; 881 | 75226 |
| Sun Pharmaceutical Industries Ltd. | &nbsp;&nbsp; 23795 | 489414 |
| Suzlon Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 97830 | 81354 |
| Tata Communications Ltd. | &nbsp;&nbsp; 9905 | 235925 |
| Tata Consultancy Services Ltd. | &nbsp;&nbsp; 17439 | 915734 |
| Titan Co. Ltd. | &nbsp;&nbsp; 5236 | 216830 |
| Torrent Pharmaceuticals Ltd. | &nbsp;&nbsp; 1167 | 44291 |
| Trent Ltd. | &nbsp;&nbsp; 6206 | 433728 |
| Varun Beverages Ltd. | &nbsp;&nbsp; 11081 | 209062 |
| Wipro Ltd. | &nbsp;&nbsp; 56203 | 350730 |
| Zomato Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 129118 | 355075 |
|  |  | 19379479 |
| **Indonesia — 0.1%** | **Indonesia — 0.1%** | **Indonesia — 0.1%** |
| Bank Mandiri Persero Tbk PT | &nbsp;&nbsp; 242100 | 95482 |
| Bank Rakyat Indonesia Persero Tbk PT | &nbsp;&nbsp; 621837 | 178927 |
| GoTo Gojek Tokopedia Tbk PT<sup>(a)</sup> | &nbsp;&nbsp; 20888400 | 68356 |
| Telkom Indonesia Persero Tbk PT | &nbsp;&nbsp; 2504900 | 444881 |
|  |  | 787646 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Ireland — 0.0%** | **Ireland — 0.0%** | **Ireland — 0.0%** |
| AIB Group PLC | &nbsp;&nbsp; 52214 | $299504 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 13870 | 157077 |
|  |  | 456581 |
| **Israel — 0.2%** | **Israel — 0.2%** | **Israel — 0.2%** |
| Azrieli Group Ltd. | &nbsp;&nbsp; 4760 | 292156 |
| Bank Hapoalim BM | &nbsp;&nbsp; 8904 | 81706 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 33117 | 285386 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3320 | 609054 |
| Global-e Online Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 4897 | 168065 |
| Isracard Ltd. | &nbsp;&nbsp; 0 | 1 |
| Nice Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 927 | 167313 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 25603 | 446260 |
|  |  | 2049941 |
| **Italy — 0.7%** | **Italy — 0.7%** | **Italy — 0.7%** |
| Ferrari NV | &nbsp;&nbsp; 5446 | 2241424 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 191492 | 777617 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 4271 | 69332 |
| Moncler SpA | &nbsp;&nbsp; 2235 | 133264 |
| Poste Italiane SpA<sup>(b)</sup> | &nbsp;&nbsp; 39344 | 532621 |
| Snam SpA | &nbsp;&nbsp; 57800 | 276205 |
| Tenaris SA, NVS | &nbsp;&nbsp; 65657 | 1041768 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 60457 | 503441 |
| UniCredit SpA | &nbsp;&nbsp; 29049 | 1193179 |
|  |  | 6768851 |
| **Japan — 5.5%** | **Japan — 5.5%** | **Japan — 5.5%** |
| Advantest Corp. | &nbsp;&nbsp; 17000 | 752443 |
| Astellas Pharma Inc. | &nbsp;&nbsp; 31500 | 365335 |
| Capcom Co. Ltd. | &nbsp;&nbsp; 6400 | 136729 |
| Central Japan Railway Co. | &nbsp;&nbsp; 65600 | 1546647 |
| Chiba Bank Ltd. (The) | &nbsp;&nbsp; 21900 | 205148 |
| Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 17000 | 741922 |
| Concordia Financial Group Ltd. | &nbsp;&nbsp; 62100 | 391386 |
| Dai-ichi Life Holdings Inc. | &nbsp;&nbsp; 7100 | 216481 |
| Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp; 29000 | 1181102 |
| Daiwa Securities Group Inc. | &nbsp;&nbsp; 110100 | 908996 |
| Disco Corp. | &nbsp;&nbsp; 2700 | 902871 |
| East Japan Railway Co. | &nbsp;&nbsp; 36600 | 697355 |
| FANUC Corp. | &nbsp;&nbsp; 22200 | 658158 |
| Fast Retailing Co. Ltd. | &nbsp;&nbsp; 3900 | 1075030 |
| Fujitsu Ltd. | &nbsp;&nbsp; 12900 | 234266 |
| Hamamatsu Photonics KK | &nbsp;&nbsp; 5100 | 146875 |
| Hikari Tsushin Inc. | &nbsp;&nbsp; 3000 | 561763 |
| Hoya Corp. | &nbsp;&nbsp; 9200 | 1152767 |
| Hulic Co. Ltd. | &nbsp;&nbsp; 92300 | 900950 |
| Japan Exchange Group Inc. | &nbsp;&nbsp; 16700 | 392089 |
| Japan Post Bank Co. Ltd. | &nbsp;&nbsp; 62700 | 652467 |
| Japan Post Holdings Co. Ltd. | &nbsp;&nbsp; 89000 | 942551 |
| Japan Post Insurance Co. Ltd. | &nbsp;&nbsp; 8500 | 174994 |
| Japan Tobacco Inc. | &nbsp;&nbsp; 54100 | 1591902 |
| KDDI Corp. | &nbsp;&nbsp; 27000 | 812430 |
| Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp; 8300 | 248245 |
| Keyence Corp. | &nbsp;&nbsp; 4100 | 1792767 |
| Konami Group Corp. | &nbsp;&nbsp; 3200 | 240767 |
| Lasertec Corp. | &nbsp;&nbsp; 2500 | 443583 |
| M3 Inc. | &nbsp;&nbsp; 34200 | 319334 |
| Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp; 53100 | 905033 |
| Mitsubishi HC Capital Inc. | &nbsp;&nbsp; 184500 | 1327370 |
| Mitsubishi UFJ Financial Group Inc. | &nbsp;&nbsp; 205700 | 2375907 |
| Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp; 99900 | 1034950 |
| Mizuho Financial Group Inc. | &nbsp;&nbsp; 45300 | 1035565 |
| MS&AD Insurance Group Holdings Inc. | &nbsp;&nbsp; 20000 | 471491 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp; 31700 | $705261 |
| Nexon Co. Ltd. | &nbsp;&nbsp; 14000 | 301542 |
| Nintendo Co. Ltd. | &nbsp;&nbsp; 9000 | 497325 |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp; 227400 | 242343 |
| Nomura Holdings Inc. | &nbsp;&nbsp; 210900 | 1300327 |
| Nomura Real Estate Holdings Inc. | &nbsp;&nbsp; 10300 | 287933 |
| Nomura Real Estate Master Fund Inc. | &nbsp;&nbsp; 63 | 61806 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp; 15300 | 472337 |
| NTT Data Group Corp. | &nbsp;&nbsp; 30700 | 478135 |
| Obic Co. Ltd. | &nbsp;&nbsp; 4200 | 640429 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 28900 | 426342 |
| Oracle Corp./Japan | &nbsp;&nbsp; 1700 | 138770 |
| Oriental Land Co. Ltd./Japan | &nbsp;&nbsp; 36100 | 1033525 |
| ORIX Corp. | &nbsp;&nbsp; 60000 | 1451378 |
| Pan Pacific International Holdings Corp. | &nbsp;&nbsp; 2900 | 75659 |
| Rakuten Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 39000 | 228800 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp; 24200 | 1387708 |
| Renesas Electronics Corp. | &nbsp;&nbsp; 28300 | 487436 |
| Resona Holdings Inc. | &nbsp;&nbsp; 54900 | 393684 |
| SBI Holdings Inc. | &nbsp;&nbsp; 25200 | 655040 |
| Secom Co. Ltd. | &nbsp;&nbsp; 12500 | 798159 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp; 10000 | 444307 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp; 12400 | 545464 |
| SMC Corp. | &nbsp;&nbsp; 2800 | 1362382 |
| SoftBank Corp. | &nbsp;&nbsp; 48300 | 630061 |
| SoftBank Group Corp. | &nbsp;&nbsp; 24200 | 1478920 |
| Sompo Holdings Inc. | &nbsp;&nbsp; 12900 | 294145 |
| Sony Group Corp. | &nbsp;&nbsp; 20600 | 1829663 |
| Sumitomo Mitsui Financial Group Inc. | &nbsp;&nbsp; 22100 | 1595906 |
| Sumitomo Mitsui Trust Holdings Inc. | &nbsp;&nbsp; 5600 | 141550 |
| Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp; 22700 | 750297 |
| Sysmex Corp. | &nbsp;&nbsp; 25500 | 417467 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 35175 | 987512 |
| Tokio Marine Holdings Inc. | &nbsp;&nbsp; 35200 | 1381005 |
| Tokyo Electron Ltd. | &nbsp;&nbsp; 2600 | 544043 |
| Tokyu Corp. | &nbsp;&nbsp; 24900 | 301673 |
| Trend Micro Inc./Japan | &nbsp;&nbsp; 3800 | 182143 |
| West Japan Railway Co. | &nbsp;&nbsp; 5200 | 102373 |
| ZOZO Inc. | &nbsp;&nbsp; 1700 | 49767 |
|  |  | 52640286 |
| **Kuwait — 0.1%** | **Kuwait — 0.1%** | **Kuwait — 0.1%** |
| Mabanee Co. KPSC | &nbsp;&nbsp; 112518 | 309061 |
| Mobile Telecommunications Co. KSCP | &nbsp;&nbsp; 151996 | 226893 |
| National Bank of Kuwait SAKP | &nbsp;&nbsp; 71588 | 212263 |
|  |  | 748217 |
| **Malaysia — 0.2%** | **Malaysia — 0.2%** | **Malaysia — 0.2%** |
| Gamuda Bhd | &nbsp;&nbsp; 189050 | 323296 |
| Genting Malaysia Bhd | &nbsp;&nbsp; 546100 | 309427 |
| IHH Healthcare Bhd | &nbsp;&nbsp; 243200 | 333477 |
| Malaysia Airports Holdings Bhd | &nbsp;&nbsp; 223200 | 497690 |
| Telekom Malaysia Bhd | &nbsp;&nbsp; 32900 | 49964 |
|  |  | 1513854 |
| **Mexico — 0.2%** | **Mexico — 0.2%** | **Mexico — 0.2%** |
| Fibra Uno Administracion SA de CV | &nbsp;&nbsp; 323062 | 410612 |
| Grupo Aeroportuario del Centro Norte SAB de CV, <br> Class B<br>| &nbsp;&nbsp; 10189 | 87469 |
| Grupo Aeroportuario del Pacifico SAB de CV, Class B | &nbsp;&nbsp; 7392 | 117936 |
| Grupo Aeroportuario del Sureste SAB de CV, Class B | &nbsp;&nbsp; 7626 | 229955 |
| Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp; 30081 | 225410 |
| Grupo Mexico SAB de CV, Series B | &nbsp;&nbsp; 70130 | 395236 |
| Prologis Property Mexico SA de CV | &nbsp;&nbsp; 56749 | 189458 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Mexico (continued)** | **Mexico (continued)** | **Mexico (continued)** |
| Promotora y Operadora de Infraestructura SAB de CV | &nbsp;&nbsp; 17670 | $165954 |
| Wal-Mart de Mexico SAB de CV | &nbsp;&nbsp; 135792 | 451595 |
|  |  | 2273625 |
| **Netherlands — 1.2%** | **Netherlands — 1.2%** | **Netherlands — 1.2%** |
| ABN AMRO Bank NV, CVA<sup>(b)</sup> | &nbsp;&nbsp; 17922 | 312862 |
| Adyen NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 262 | 320488 |
| AerCap Holdings NV | &nbsp;&nbsp; 14857 | 1395815 |
| ASM International NV | &nbsp;&nbsp; 227 | 156181 |
| ASML Holding NV | &nbsp;&nbsp; 5191 | 4833710 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 1245 | 160387 |
| DSM-Firmenich AG | &nbsp;&nbsp; 3967 | 506463 |
| EXOR NV, NVS | &nbsp;&nbsp; 12412 | 1272384 |
| ING Groep NV | &nbsp;&nbsp; 8890 | 161362 |
| Koninklijke KPN NV | &nbsp;&nbsp; 11364 | 44776 |
| NN Group NV | &nbsp;&nbsp; 9830 | 493310 |
| Prosus NV | &nbsp;&nbsp; 26213 | 914395 |
| Wolters Kluwer NV | &nbsp;&nbsp; 4760 | 796868 |
|  |  | 11369001 |
| **Norway — 0.4%** | **Norway — 0.4%** | **Norway — 0.4%** |
| DNB Bank ASA | &nbsp;&nbsp; 75355 | 1556837 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 45291 | 766223 |
| Mowi ASA | &nbsp;&nbsp; 38882 | 656270 |
| Salmar ASA | &nbsp;&nbsp; 9569 | 550551 |
| Telenor ASA | &nbsp;&nbsp; 25509 | 303940 |
|  |  | 3833821 |
| **Peru — 0.1%** | **Peru — 0.1%** | **Peru — 0.1%** |
| Southern Copper Corp. | &nbsp;&nbsp; 8153 | 869191 |
| **Philippines — 0.0%** | **Philippines — 0.0%** | **Philippines — 0.0%** |
| International Container Terminal Services Inc. | &nbsp;&nbsp; 50260 | 306508 |
| PLDT Inc. | &nbsp;&nbsp; 1355 | 35184 |
| SM Investments Corp. | &nbsp;&nbsp; 13190 | 205572 |
|  |  | 547264 |
| **Poland — 0.2%** | **Poland — 0.2%** | **Poland — 0.2%** |
| Allegro.eu SA <sup>(a)(b)</sup> | &nbsp;&nbsp; 32138 | 295220 |
| Bank Polska Kasa Opieki SA | &nbsp;&nbsp; 3301 | 133727 |
| CD Projekt SA | &nbsp;&nbsp; 2853 | 114524 |
| Dino Polska SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 1829 | 162426 |
| Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp; 9585 | 142447 |
| Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp; 62755 | 768505 |
|  |  | 1616849 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| EDP Renovaveis SA | &nbsp;&nbsp; 80569 | 1252528 |
| **Qatar — 0.2%** | **Qatar — 0.2%** | **Qatar — 0.2%** |
| Barwa Real Estate Co. | &nbsp;&nbsp; 543119 | 413737 |
| Commercial Bank PSQC (The) | &nbsp;&nbsp; 110288 | 126359 |
| Dukhan Bank | &nbsp;&nbsp; 60583 | 62179 |
| Mesaieed Petrochemical Holding Co. | &nbsp;&nbsp; 1115902 | 511580 |
| Ooredoo QPSC | &nbsp;&nbsp; 126788 | 363244 |
| Qatar Islamic Bank QPSC | &nbsp;&nbsp; 16583 | 89500 |
| Qatar National Bank QPSC | &nbsp;&nbsp; 61468 | 257348 |
|  |  | 1823947 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| Alrosa PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 184910 | 22 |
| Mobile TeleSystems PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 73304 | 9 |
| Moscow Exchange MICEX-RTS PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 152460 | 18 |
| Ozon Holdings PLC, ADR<sup>(a)(d)</sup> | &nbsp;&nbsp; 5270 | 1 |
| Polyus PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 1430 |  |
| Sberbank of Russia PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 292860 | 34 |
| TCS Group Holding PLC, GDR<sup>(a)(d)(e)</sup> | &nbsp;&nbsp; 4185 |  |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Russia (continued)** | **Russia (continued)** | **Russia (continued)** |
| United Co. RUSAL International PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 509950 | $60 |
| VK Co. Ltd.<sup>(a)(d)</sup> | &nbsp;&nbsp; 22940 | 3 |
| VTB Bank PJSC<sup>(a)(d)</sup> | &nbsp;&nbsp; 4498 |  |
| Yandex NV<sup>(a)(d)</sup> | &nbsp;&nbsp; 9920 | 1 |
|  |  | 148 |
| **Saudi Arabia — 0.8%** | **Saudi Arabia — 0.8%** | **Saudi Arabia — 0.8%** |
| Al Rajhi Bank | &nbsp;&nbsp; 50304 | 1146970 |
| Alinma Bank | &nbsp;&nbsp; 41039 | 354456 |
| Arabian Internet & Communications Services Co. | &nbsp;&nbsp; 4475 | 350790 |
| Bank AlBilad | &nbsp;&nbsp; 4251 | 41665 |
| Banque Saudi Fransi | &nbsp;&nbsp; 3850 | 37967 |
| Bupa Arabia for Cooperative Insurance Co. | &nbsp;&nbsp; 1129 | 69331 |
| Co. for Cooperative Insurance (The) | &nbsp;&nbsp; 1867 | 71639 |
| Dallah Healthcare Co. | &nbsp;&nbsp; 4779 | 210934 |
| Dar Al Arkan Real Estate Development Co.<sup>(a)</sup> | &nbsp;&nbsp; 104254 | 376236 |
| Dr Sulaiman Al Habib Medical Services Group Co. | &nbsp;&nbsp; 8644 | 663523 |
| Elm Co. | &nbsp;&nbsp; 2082 | 507748 |
| Etihad Etisalat Co. | &nbsp;&nbsp; 25046 | 347898 |
| Jarir Marketing Co. | &nbsp;&nbsp; 40455 | 140048 |
| Mouwasat Medical Services Co. | &nbsp;&nbsp; 8766 | 282059 |
| Nahdi Medical Co. | &nbsp;&nbsp; 10647 | 376972 |
| Riyad Bank | &nbsp;&nbsp; 34317 | 251042 |
| Saudi Awwal Bank | &nbsp;&nbsp; 6309 | 66013 |
| Saudi Investment Bank (The) | &nbsp;&nbsp; 130091 | 443129 |
| Saudi National Bank (The) | &nbsp;&nbsp; 37975 | 383713 |
| Saudi Research & Media Group<sup>(a)</sup> | &nbsp;&nbsp; 3379 | 235107 |
| Saudi Tadawul Group Holding Co. | &nbsp;&nbsp; 1183 | 73001 |
| Saudi Telecom Co. | &nbsp;&nbsp; 93335 | 958730 |
|  |  | 7388971 |
| **Singapore — 0.3%** | **Singapore — 0.3%** | **Singapore — 0.3%** |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 161802 | 330328 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 113800 | 177760 |
| CapitaLand Investment Ltd./Singapore | &nbsp;&nbsp; 148500 | 301089 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 928300 | 589891 |
| Grab Holdings Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 42069 | 138828 |
| Keppel Ltd. | &nbsp;&nbsp; 92100 | 458369 |
| Sea Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 1216 | 79891 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 353400 | 818710 |
|  |  | 2894866 |
| **South Africa — 0.3%** | **South Africa — 0.3%** | **South Africa — 0.3%** |
| Absa Group Ltd. | &nbsp;&nbsp; 5569 | 48864 |
| Capitec Bank Holdings Ltd. | &nbsp;&nbsp; 927 | 144571 |
| FirstRand Ltd. | &nbsp;&nbsp; 98244 | 441451 |
| MTN Group Ltd. | &nbsp;&nbsp; 31420 | 136336 |
| Naspers Ltd., Class N | &nbsp;&nbsp; 3894 | 753081 |
| NEPI Rockcastle NV | &nbsp;&nbsp; 89284 | 675151 |
| Reinet Investments SCA | &nbsp;&nbsp; 10279 | 276778 |
|  |  | 2476232 |
| **South Korea — 1.3%** | **South Korea — 1.3%** | **South Korea — 1.3%** |
| Alteogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 667 | 153798 |
| Amorepacific Corp. | &nbsp;&nbsp; 138 | 18342 |
| Celltrion Inc. | &nbsp;&nbsp; 1413 | 211521 |
| Celltrion Pharm Inc.<sup>(a)</sup> | &nbsp;&nbsp; 742 | 54522 |
| Ecopro BM Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 824 | 109402 |
| Hana Financial Group Inc. | &nbsp;&nbsp; 12905 | 611413 |
| Hanjin Kal Corp. | &nbsp;&nbsp; 1004 | 50814 |
| Hanmi Semiconductor Co. Ltd. | &nbsp;&nbsp; 1648 | 158745 |
| HLB Inc.<sup>(a)</sup> | &nbsp;&nbsp; 6036 | 358509 |
| HYBE Co. Ltd. | &nbsp;&nbsp; 222 | 28557 |
| Industrial Bank of Korea | &nbsp;&nbsp; 69944 | 713696 |
| Kakao Corp. | &nbsp;&nbsp; 8108 | 233000 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| KakaoBank Corp. | &nbsp;&nbsp; 2193 | $34445 |
| KB Financial Group Inc. | &nbsp;&nbsp; 10863 | 702250 |
| Korea Investment Holdings Co. Ltd. | &nbsp;&nbsp; 8383 | 450388 |
| Krafton Inc.<sup>(a)</sup> | &nbsp;&nbsp; 309 | 66626 |
| KT&G Corp. | &nbsp;&nbsp; 4140 | 282231 |
| Kum Yang Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3035 | 150572 |
| Meritz Financial Group Inc. | &nbsp;&nbsp; 4018 | 247653 |
| Mirae Asset Securities Co. Ltd. | &nbsp;&nbsp; 43739 | 248358 |
| NAVER Corp. | &nbsp;&nbsp; 3377 | 430711 |
| NCSoft Corp. | &nbsp;&nbsp; 688 | 88283 |
| NH Investment & Securities Co. Ltd. | &nbsp;&nbsp; 28702 | 291557 |
| Posco DX Co. Ltd. | &nbsp;&nbsp; 2751 | 58323 |
| POSCO Future M Co. Ltd. | &nbsp;&nbsp; 794 | 123898 |
| Samsung Biologics Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 374 | 256598 |
| Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 48561 | 2994379 |
| Samsung Life Insurance Co. Ltd. | &nbsp;&nbsp; 2746 | 193800 |
| Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp; 18789 | 826357 |
| SK Hynix Inc. | &nbsp;&nbsp; 4887 | 700911 |
| SK IE Technology Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 4965 | 136105 |
| SK Square Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6865 | 435442 |
| Woori Financial Group Inc. | &nbsp;&nbsp; 72727 | 837103 |
|  |  | 12258309 |
| **Spain — 0.7%** | **Spain — 0.7%** | **Spain — 0.7%** |
| Aena SME SA<sup>(b)</sup> | &nbsp;&nbsp; 4493 | 853664 |
| Amadeus IT Group SA | &nbsp;&nbsp; 17114 | 1127142 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 94748 | 993074 |
| Banco de Sabadell SA | &nbsp;&nbsp; 57945 | 122278 |
| Banco Santander SA | &nbsp;&nbsp; 261399 | 1261028 |
| Ferrovial SE | &nbsp;&nbsp; 16175 | 643211 |
| Grifols SA<sup>(a)</sup> | &nbsp;&nbsp; 7074 | 71451 |
| Iberdrola SA | &nbsp;&nbsp; 13843 | 182841 |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 25541 | 1241008 |
| Redeia Corp. SA | &nbsp;&nbsp; 9559 | 169719 |
|  |  | 6665416 |
| **Sweden — 0.7%** | **Sweden — 0.7%** | **Sweden — 0.7%** |
| Alfa Laval AB | &nbsp;&nbsp; 6053 | 267640 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 27538 | 490112 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 71842 | 1124034 |
| Evolution AB<sup>(b)</sup> | &nbsp;&nbsp; 3027 | 293223 |
| Hexagon AB, Class B | &nbsp;&nbsp; 70357 | 716547 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 6114 | 209736 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 40156 | 1361173 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 302 | 8869 |
| Investor AB, Class B | &nbsp;&nbsp; 53231 | 1511234 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 44173 | 445876 |
| Swedbank AB, Class A | &nbsp;&nbsp; 10849 | 230692 |
|  |  | 6659136 |
| **Switzerland — 2.0%** | **Switzerland — 2.0%** | **Switzerland — 2.0%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 27862 | 1546525 |
| Alcon Inc. | &nbsp;&nbsp; 7074 | 669798 |
| Avolta AG, Registered | &nbsp;&nbsp; 13447 | 507375 |
| Chocoladefabriken Lindt & Spruengli AG, Participation <br> Certificates, NVS<br>| &nbsp;&nbsp; 9 | 112802 |
| Cie. Financiere Richemont SA, Class A, Registered | &nbsp;&nbsp; 8459 | 1290262 |
| Geberit AG, Registered | &nbsp;&nbsp; 514 | 327246 |
| Givaudan SA, Registered | &nbsp;&nbsp; 333 | 1633716 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 3224 | 176442 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 805 | 536057 |
| Nestle SA, Registered | &nbsp;&nbsp; 6732 | 681902 |
| Novartis AG, Registered | &nbsp;&nbsp; 27453 | 3064519 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 8137 | 2634430 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Sandoz Group AG | &nbsp;&nbsp; 5666 | $245753 |
| SGS SA | &nbsp;&nbsp; 2975 | 325267 |
| Sika AG, Registered | &nbsp;&nbsp; 4292 | 1303120 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 103 | 31573 |
| Straumann Holding AG | &nbsp;&nbsp; 1854 | 239077 |
| Swisscom AG, Registered | &nbsp;&nbsp; 432 | 264402 |
| Temenos AG, Registered | &nbsp;&nbsp; 3268 | 226925 |
| UBS Group AG, Registered | &nbsp;&nbsp; 55810 | 1691081 |
| VAT Group AG<sup>(b)</sup> | &nbsp;&nbsp; 1275 | 638948 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 2357 | 1295808 |
|  |  | 19443028 |
| **Taiwan — 2.0%** | **Taiwan — 2.0%** | **Taiwan — 2.0%** |
| Accton Technology Corp. | &nbsp;&nbsp; 12000 | 188103 |
| Advantech Co. Ltd. | &nbsp;&nbsp; 21000 | 223368 |
| Airtac International Group | &nbsp;&nbsp; 14000 | 358871 |
| Alchip Technologies Ltd. | &nbsp;&nbsp; 3000 | 244348 |
| Asia Vital Components Co. Ltd. | &nbsp;&nbsp; 10000 | 199121 |
| Catcher Technology Co. Ltd. | &nbsp;&nbsp; 97000 | 631836 |
| Cathay Financial Holding Co. Ltd. | &nbsp;&nbsp; 903103 | 1729281 |
| Chailease Holding Co. Ltd. | &nbsp;&nbsp; 50714 | 236589 |
| China Development Financial Holding Corp. | &nbsp;&nbsp; 1032542 | 509602 |
| Chunghwa Telecom Co. Ltd. | &nbsp;&nbsp; 91000 | 337199 |
| CTBC Financial Holding Co. Ltd. | &nbsp;&nbsp; 310400 | 336914 |
| Delta Electronics Inc. | &nbsp;&nbsp; 30000 | 385315 |
| E Ink Holdings Inc. | &nbsp;&nbsp; 55000 | 453813 |
| eMemory Technology Inc. | &nbsp;&nbsp; 2000 | 142071 |
| Fortune Electric Co. Ltd. | &nbsp;&nbsp; 5500 | 117375 |
| Fubon Financial Holding Co. Ltd. | &nbsp;&nbsp; 123538 | 334536 |
| Global Unichip Corp. | &nbsp;&nbsp; 3000 | 107985 |
| Globalwafers Co. Ltd. | &nbsp;&nbsp; 10000 | 152117 |
| Largan Precision Co. Ltd. | &nbsp;&nbsp; 6000 | 520561 |
| MediaTek Inc. | &nbsp;&nbsp; 26000 | 990213 |
| Novatek Microelectronics Corp. | &nbsp;&nbsp; 6000 | 96765 |
| Ruentex Development Co. Ltd. | &nbsp;&nbsp; 87000 | 136578 |
| Silergy Corp. | &nbsp;&nbsp; 11000 | 152080 |
| Taiwan High Speed Rail Corp. | &nbsp;&nbsp; 485000 | 440417 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 344000 | 10034924 |
| Yageo Corp. | &nbsp;&nbsp; 4000 | 97543 |
|  |  | 19157525 |
| **Thailand — 0.1%** | **Thailand — 0.1%** | **Thailand — 0.1%** |
| Airports of Thailand PCL, NVDR | &nbsp;&nbsp; 441400 | 700423 |
| Bangkok Dusit Medical Services PCL, NVDR | &nbsp;&nbsp; 225100 | 165939 |
| Bumrungrad Hospital PCL, NVDR | &nbsp;&nbsp; 24500 | 169159 |
| Delta Electronics Thailand PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 75700 | 218001 |
| Minor International PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 187800 | 153029 |
|  |  | 1406551 |
| **Turkey — 0.1%** | **Turkey — 0.1%** | **Turkey — 0.1%** |
| Aselsan Elektronik Sanayi Ve Ticaret A/S | &nbsp;&nbsp; 289022 | 545837 |
| Turkcell Iletisim Hizmetleri AS | &nbsp;&nbsp; 89785 | 286291 |
| Yapi ve Kredi Bankasi A/S | &nbsp;&nbsp; 53535 | 48818 |
|  |  | 880946 |
| **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** |
| Aldar Properties PJSC | &nbsp;&nbsp; 46743 | 94047 |
| Emaar Properties PJSC | &nbsp;&nbsp; 274108 | 644047 |
| Emirates NBD Bank PJSC | &nbsp;&nbsp; 39677 | 206328 |
| Emirates Telecommunications Group Co. PJSC | &nbsp;&nbsp; 819 | 3652 |
| Multiply Group PJSC<sup>(a)</sup> | &nbsp;&nbsp; 336014 | 210412 |
|  |  | 1158486 |
| **United Kingdom — 3.1%** | **United Kingdom — 3.1%** | **United Kingdom — 3.1%** |
| 3i Group PLC | &nbsp;&nbsp; 37317 | 1501290 |
| Antofagasta PLC | &nbsp;&nbsp; 42325 | 1102109 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Ashtead Group PLC | &nbsp;&nbsp; 18605 | $1342675 |
| AstraZeneca PLC | &nbsp;&nbsp; 20738 | 3294662 |
| Auto Trader Group PLC<sup>(b)</sup> | &nbsp;&nbsp; 5823 | 60995 |
| Barclays PLC | &nbsp;&nbsp; 370637 | 1108318 |
| British American Tobacco PLC | &nbsp;&nbsp; 64799 | 2299135 |
| BT Group PLC | &nbsp;&nbsp; 218790 | 396776 |
| Burberry Group PLC | &nbsp;&nbsp; 10241 | 102490 |
| Compass Group PLC | &nbsp;&nbsp; 3477 | 107074 |
| Croda International PLC | &nbsp;&nbsp; 6010 | 312485 |
| Diageo PLC | &nbsp;&nbsp; 44355 | 1380104 |
| Experian PLC | &nbsp;&nbsp; 17272 | 814893 |
| Flutter Entertainment PLC<sup>(a)</sup> | &nbsp;&nbsp; 1275 | 252202 |
| GSK PLC | &nbsp;&nbsp; 56455 | 1096287 |
| Haleon PLC | &nbsp;&nbsp; 137358 | 616106 |
| HSBC Holdings PLC | &nbsp;&nbsp; 278815 | 2535573 |
| Imperial Brands PLC | &nbsp;&nbsp; 61056 | 1682816 |
| Informa PLC | &nbsp;&nbsp; 56877 | 635611 |
| Intertek Group PLC | &nbsp;&nbsp; 1873 | 121629 |
| Legal & General Group PLC | &nbsp;&nbsp; 93931 | 280161 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 1434319 | 1095748 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 3115 | 379175 |
| National Grid PLC | &nbsp;&nbsp; 30354 | 385137 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 166857 | 791650 |
| Pearson PLC | &nbsp;&nbsp; 17842 | 242080 |
| Prudential PLC | &nbsp;&nbsp; 52955 | 477886 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 7834 | 421419 |
| RELX PLC | &nbsp;&nbsp; 37741 | 1781280 |
| Rentokil Initial PLC | &nbsp;&nbsp; 23825 | 145479 |
| Severn Trent PLC | &nbsp;&nbsp; 19823 | 655342 |
| Smiths Group PLC | &nbsp;&nbsp; 7753 | 178080 |
| Spirax Group PLC | &nbsp;&nbsp; 868 | 101336 |
| Standard Chartered PLC | &nbsp;&nbsp; 17315 | 171043 |
| Unilever PLC | &nbsp;&nbsp; 10907 | 670286 |
| United Utilities Group PLC | &nbsp;&nbsp; 77772 | 1033561 |
| Vodafone Group PLC | &nbsp;&nbsp; 412927 | 386396 |
| Whitbread PLC | &nbsp;&nbsp; 8990 | 336855 |
|  |  | 30296144 |
| **United States — 63.5%** | **United States — 63.5%** | **United States — 63.5%** |
| Abbott Laboratories | &nbsp;&nbsp; 7409 | 784909 |
| AbbVie Inc. | &nbsp;&nbsp; 25750 | 4771990 |
| Accenture PLC, Class A | &nbsp;&nbsp; 8279 | 2737203 |
| Adobe Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5637 | 3109651 |
| Advanced Micro Devices Inc.<sup>(a)</sup> | &nbsp;&nbsp; 21691 | 3133916 |
| AECOM | &nbsp;&nbsp; 2433 | 220454 |
| Aflac Inc. | &nbsp;&nbsp; 16423 | 1566425 |
| Agilent Technologies Inc. | &nbsp;&nbsp; 3462 | 489527 |
| Airbnb Inc.<sup>(a)</sup> | &nbsp;&nbsp; 8574 | 1196587 |
| Akamai Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5661 | 556363 |
| Albemarle Corp. | &nbsp;&nbsp; 806 | 75498 |
| Alexandria Real Estate Equities Inc. | &nbsp;&nbsp; 492 | 57707 |
| Align Technology Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1253 | 290546 |
| Allegion PLC | &nbsp;&nbsp; 1932 | 264317 |
| Allstate Corp. (The) | &nbsp;&nbsp; 1736 | 297064 |
| Alphabet Inc., Class A | &nbsp;&nbsp; 78641 | 13490077 |
| Alphabet Inc., Class C, NVS | &nbsp;&nbsp; 62289 | 10785340 |
| Altria Group Inc. | &nbsp;&nbsp; 71028 | 3481082 |
| Amazon.com Inc.<sup>(a)</sup> | &nbsp;&nbsp; 120874 | 22601021 |
| American Express Co. | &nbsp;&nbsp; 8601 | 2176397 |
| American Financial Group Inc./OH | &nbsp;&nbsp; 877 | 114852 |
| American International Group Inc. | &nbsp;&nbsp; 6173 | 489087 |
| American Tower Corp. | &nbsp;&nbsp; 6893 | 1519217 |
| American Water Works Co. Inc. | &nbsp;&nbsp; 15632 | 2225372 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Ameriprise Financial Inc. | &nbsp;&nbsp; 990 | $425769 |
| AMETEK Inc. | &nbsp;&nbsp; 16772 | 2909607 |
| Amgen Inc. | &nbsp;&nbsp; 8346 | 2774795 |
| Amphenol Corp., Class A | &nbsp;&nbsp; 25796 | 1657651 |
| Analog Devices Inc. | &nbsp;&nbsp; 8082 | 1870013 |
| Annaly Capital Management Inc. | &nbsp;&nbsp; 7450 | 148329 |
| Ansys Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1169 | 366633 |
| Aon PLC, Class A | &nbsp;&nbsp; 2844 | 934282 |
| Apollo Global Management Inc. | &nbsp;&nbsp; 5662 | 709505 |
| Apple Inc. | &nbsp;&nbsp; 191162 | 42453257 |
| Applied Materials Inc. | &nbsp;&nbsp; 6443 | 1367205 |
| AppLovin Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2867 | 221046 |
| Arch Capital Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 7016 | 671992 |
| Arista Networks Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3944 | 1366793 |
| Arthur J Gallagher & Co. | &nbsp;&nbsp; 1063 | 301350 |
| Aspen Technology Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1093 | 205429 |
| Assurant Inc. | &nbsp;&nbsp; 345 | 60330 |
| AT&T Inc. | &nbsp;&nbsp; 123589 | 2379088 |
| Atlassian Corp., NVS<sup>(a)</sup> | &nbsp;&nbsp; 1694 | 299110 |
| Autodesk Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1894 | 468803 |
| Automatic Data Processing Inc. | &nbsp;&nbsp; 8248 | 2166090 |
| AvalonBay Communities Inc. | &nbsp;&nbsp; 1630 | 334020 |
| Axon Enterprise Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5290 | 1587053 |
| Baker Hughes Co., Class A | &nbsp;&nbsp; 90042 | 3486426 |
| Bank of America Corp. | &nbsp;&nbsp; 88364 | 3561953 |
| Bank of New York Mellon Corp. (The) | &nbsp;&nbsp; 15581 | 1013856 |
| Bath & Body Works Inc. | &nbsp;&nbsp; 3049 | 112051 |
| Baxter International Inc. | &nbsp;&nbsp; 711 | 25468 |
| Becton Dickinson and Co. | &nbsp;&nbsp; 4545 | 1095618 |
| Berkshire Hathaway Inc., Class B<sup>(a)</sup> | &nbsp;&nbsp; 13998 | 6138123 |
| Biogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1843 | 392928 |
| BlackRock Inc.<sup>(f)</sup> | &nbsp;&nbsp; 1732 | 1518098 |
| Blackstone Inc., NVS | &nbsp;&nbsp; 8281 | 1177144 |
| Block Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5387 | 333348 |
| Booking Holdings Inc. | &nbsp;&nbsp; 488 | 1812925 |
| Booz Allen Hamilton Holding Corp., Class A | &nbsp;&nbsp; 1761 | 252369 |
| Boston Scientific Corp.<sup>(a)</sup> | &nbsp;&nbsp; 22270 | 1645308 |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp; 42277 | 2010694 |
| Broadcom Inc. | &nbsp;&nbsp; 60882 | 9782520 |
| Broadridge Financial Solutions Inc. | &nbsp;&nbsp; 3400 | 727600 |
| Brown & Brown Inc. | &nbsp;&nbsp; 1762 | 175196 |
| Brown-Forman Corp., Class B  | &nbsp;&nbsp; 11441 | 516676 |
| BXP Inc. | &nbsp;&nbsp; 3807 | 271477 |
| Cadence Design Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3182 | 851694 |
| Caesars Entertainment Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1028 | 41069 |
| Capital One Financial Corp. | &nbsp;&nbsp; 4532 | 686145 |
| Catalent Inc.<sup>(a)</sup> | &nbsp;&nbsp; 839 | 49786 |
| Cboe Global Markets Inc. | &nbsp;&nbsp; 1342 | 246270 |
| CDW Corp./DE | &nbsp;&nbsp; 1799 | 392380 |
| Celsius Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2997 | 140350 |
| Centene Corp.<sup>(a)</sup> | &nbsp;&nbsp; 1711 | 131610 |
| Charles River Laboratories International Inc.<sup>(a)</sup> | &nbsp;&nbsp; 77 | 18796 |
| Charles Schwab Corp. (The) | &nbsp;&nbsp; 19063 | 1242717 |
| Charter Communications Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2465 | 936010 |
| Cheniere Energy Inc. | &nbsp;&nbsp; 4782 | 873384 |
| Chipotle Mexican Grill Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 23572 | 1280431 |
| Chubb Ltd. | &nbsp;&nbsp; 8274 | 2280811 |
| Church & Dwight Co. Inc. | &nbsp;&nbsp; 6098 | 597665 |
| Cigna Group (The) | &nbsp;&nbsp; 3609 | 1258350 |
| Cintas Corp. | &nbsp;&nbsp; 1857 | 1418637 |
| Cisco Systems Inc. | &nbsp;&nbsp; 74236 | 3596734 |
| Citigroup Inc. | &nbsp;&nbsp; 33916 | 2200470 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Citizens Financial Group Inc. | &nbsp;&nbsp; 6037 | $257599 |
| Cloudflare Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1237 | 95867 |
| CME Group Inc. | &nbsp;&nbsp; 5614 | 1087488 |
| Coca-Cola Co. (The) | &nbsp;&nbsp; 70082 | 4677273 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp; 9282 | 702462 |
| Coinbase Global Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2776 | 622823 |
| Colgate-Palmolive Co. | &nbsp;&nbsp; 15161 | 1503820 |
| Comcast Corp., Class A | &nbsp;&nbsp; 66785 | 2756217 |
| Consolidated Edison Inc. | &nbsp;&nbsp; 6513 | 635148 |
| Constellation Brands Inc., Class A | &nbsp;&nbsp; 4960 | 1215994 |
| Constellation Energy Corp. | &nbsp;&nbsp; 1909 | 362328 |
| Cooper Companies Inc. (The) | &nbsp;&nbsp; 4695 | 438184 |
| Copart Inc.<sup>(a)</sup> | &nbsp;&nbsp; 18748 | 981083 |
| Corpay Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1657 | 483546 |
| Corteva Inc. | &nbsp;&nbsp; 20233 | 1135071 |
| CoStar Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5428 | 423493 |
| Costco Wholesale Corp. | &nbsp;&nbsp; 3163 | 2599986 |
| Crowdstrike Holdings Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1929 | 447451 |
| Crown Castle Inc. | &nbsp;&nbsp; 8266 | 909921 |
| CSX Corp. | &nbsp;&nbsp; 36472 | 1280167 |
| CVS Health Corp. | &nbsp;&nbsp; 7980 | 481433 |
| Danaher Corp. | &nbsp;&nbsp; 9774 | 2708180 |
| Darden Restaurants Inc. | &nbsp;&nbsp; 297 | 43448 |
| Datadog Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2266 | 263853 |
| DaVita Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2291 | 312996 |
| Dayforce Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4356 | 258224 |
| Deckers Outdoor Corp.<sup>(a)</sup> | &nbsp;&nbsp; 270 | 249110 |
| Deere & Co. | &nbsp;&nbsp; 941 | 350033 |
| Dexcom Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5237 | 355173 |
| Digital Realty Trust Inc. | &nbsp;&nbsp; 3193 | 477322 |
| Discover Financial Services | &nbsp;&nbsp; 3752 | 540250 |
| DocuSign Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1035 | 57422 |
| Dollar General Corp. | &nbsp;&nbsp; 5656 | 680926 |
| Dollar Tree Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5480 | 571783 |
| DoorDash Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 4771 | 528245 |
| DraftKings Inc., Class A <sup>(a)</sup> | &nbsp;&nbsp; 7987 | 295120 |
| Eaton Corp. PLC | &nbsp;&nbsp; 5292 | 1612949 |
| eBay Inc. | &nbsp;&nbsp; 16275 | 905053 |
| Ecolab Inc. | &nbsp;&nbsp; 6993 | 1613215 |
| Edison International | &nbsp;&nbsp; 25075 | 2006251 |
| Edwards Lifesciences Corp.<sup>(a)</sup> | &nbsp;&nbsp; 8821 | 556164 |
| Electronic Arts Inc. | &nbsp;&nbsp; 5052 | 762549 |
| Elevance Health Inc. | &nbsp;&nbsp; 3160 | 1681215 |
| Eli Lilly & Co. | &nbsp;&nbsp; 10417 | 8378081 |
| Emerson Electric Co. | &nbsp;&nbsp; 4085 | 478394 |
| Enphase Energy Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1980 | 227918 |
| Entegris Inc. | &nbsp;&nbsp; 1796 | 212449 |
| EPAM Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 702 | 151021 |
| Equifax Inc. | &nbsp;&nbsp; 3287 | 918289 |
| Equinix Inc. | &nbsp;&nbsp; 1231 | 972785 |
| Equitable Holdings Inc. | &nbsp;&nbsp; 21728 | 947558 |
| Equity Residential | &nbsp;&nbsp; 4722 | 328793 |
| Erie Indemnity Co., Class A, NVS | &nbsp;&nbsp; 268 | 118228 |
| Essential Utilities Inc. | &nbsp;&nbsp; 15847 | 644181 |
| Essex Property Trust Inc. | &nbsp;&nbsp; 320 | 89075 |
| Estee Lauder Companies Inc. (The), Class A | &nbsp;&nbsp; 5732 | 570965 |
| Etsy Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2964 | 193075 |
| Everest Group Ltd. | &nbsp;&nbsp; 683 | 268330 |
| Eversource Energy | &nbsp;&nbsp; 19267 | 1250621 |
| Exact Sciences Corp.<sup>(a)(c)</sup> | &nbsp;&nbsp; 1364 | 62308 |
| Exelon Corp. | &nbsp;&nbsp; 8144 | 302957 |
| Extra Space Storage Inc. | &nbsp;&nbsp; 3088 | 492907 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| F5 Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3918 | $797862 |
| Fair Isaac Corp.<sup>(a)</sup> | &nbsp;&nbsp; 241 | 385600 |
| Fastenal Co. | &nbsp;&nbsp; 18961 | 1341491 |
| Fidelity National Financial Inc. | &nbsp;&nbsp; 3777 | 209284 |
| Fidelity National Information Services Inc. | &nbsp;&nbsp; 9633 | 740103 |
| Fifth Third Bancorp | &nbsp;&nbsp; 4712 | 199506 |
| First Citizens BancShares Inc./NC, Class A | &nbsp;&nbsp; 251 | 524010 |
| First Solar Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2211 | 477554 |
| Fiserv Inc.<sup>(a)</sup> | &nbsp;&nbsp; 11329 | 1853085 |
| Fortinet Inc.<sup>(a)</sup> | &nbsp;&nbsp; 6773 | 393105 |
| Fortive Corp. | &nbsp;&nbsp; 22336 | 1604842 |
| Freeport-McMoRan Inc. | &nbsp;&nbsp; 48515 | 2203066 |
| Gaming and Leisure Properties Inc. | &nbsp;&nbsp; 5204 | 261241 |
| Garmin Ltd. | &nbsp;&nbsp; 6561 | 1123571 |
| Gartner Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1343 | 673098 |
| Gen Digital Inc. | &nbsp;&nbsp; 26993 | 701548 |
| General Mills Inc. | &nbsp;&nbsp; 1527 | 102523 |
| Gilead Sciences Inc. | &nbsp;&nbsp; 21318 | 1621447 |
| Global Payments Inc. | &nbsp;&nbsp; 6060 | 615938 |
| GoDaddy Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 959 | 139487 |
| Goldman Sachs Group Inc. (The) | &nbsp;&nbsp; 4868 | 2477958 |
| Graco Inc. | &nbsp;&nbsp; 16402 | 1394990 |
| Halliburton Co. | &nbsp;&nbsp; 150266 | 5211225 |
| Hartford Financial Services Group Inc. (The) | &nbsp;&nbsp; 5360 | 594531 |
| HCA Healthcare Inc. | &nbsp;&nbsp; 3403 | 1235459 |
| Healthpeak Properties Inc. | &nbsp;&nbsp; 4678 | 102074 |
| Hershey Co. (The) | &nbsp;&nbsp; 2654 | 524112 |
| Hilton Worldwide Holdings Inc. | &nbsp;&nbsp; 3700 | 794279 |
| Home Depot Inc. (The) | &nbsp;&nbsp; 14362 | 5287514 |
| Host Hotels & Resorts Inc. | &nbsp;&nbsp; 25758 | 451023 |
| Hubbell Inc., Class B | &nbsp;&nbsp; 2456 | 971716 |
| HubSpot Inc.<sup>(a)</sup> | &nbsp;&nbsp; 198 | 98412 |
| Humana Inc. | &nbsp;&nbsp; 1270 | 459245 |
| IDEX Corp. | &nbsp;&nbsp; 7027 | 1464989 |
| IDEXX Laboratories Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1530 | 728464 |
| Illinois Tool Works Inc. | &nbsp;&nbsp; 4764 | 1178042 |
| Illumina Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1353 | 165878 |
| Ingersoll Rand Inc. | &nbsp;&nbsp; 22915 | 2300666 |
| Insulet Corp.<sup>(a)</sup> | &nbsp;&nbsp; 304 | 59082 |
| Intel Corp. | &nbsp;&nbsp; 61666 | 1895613 |
| Intercontinental Exchange Inc. | &nbsp;&nbsp; 7082 | 1073348 |
| International Business Machines Corp. | &nbsp;&nbsp; 15672 | 3011218 |
| Interpublic Group of Companies Inc. (The) | &nbsp;&nbsp; 5035 | 161976 |
| Intuit Inc. | &nbsp;&nbsp; 3459 | 2239184 |
| Intuitive Surgical Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4815 | 2140797 |
| Invitation Homes Inc. | &nbsp;&nbsp; 5639 | 198888 |
| IQVIA Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3576 | 880518 |
| Iron Mountain Inc. | &nbsp;&nbsp; 5335 | 547158 |
| Jacobs Solutions Inc., NVS | &nbsp;&nbsp; 3760 | 550276 |
| Johnson & Johnson | &nbsp;&nbsp; 36002 | 5682916 |
| JPMorgan Chase & Co. | &nbsp;&nbsp; 37994 | 8085123 |
| Kenvue Inc. | &nbsp;&nbsp; 48803 | 902367 |
| Keurig Dr Pepper Inc. | &nbsp;&nbsp; 15483 | 530757 |
| Keysight Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2666 | 372094 |
| Kimco Realty Corp. | &nbsp;&nbsp; 3725 | 80944 |
| KKR & Co. Inc. | &nbsp;&nbsp; 7244 | 894272 |
| KLA Corp. | &nbsp;&nbsp; 3112 | 2561394 |
| Labcorp Holdings Inc. | &nbsp;&nbsp; 2095 | 451347 |
| Lam Research Corp. | &nbsp;&nbsp; 1126 | 1037316 |
| Las Vegas Sands Corp. | &nbsp;&nbsp; 13343 | 529317 |
| Lattice Semiconductor Corp.<sup>(a)(c)</sup> | &nbsp;&nbsp; 1913 | 101389 |
| Leidos Holdings Inc. | &nbsp;&nbsp; 2888 | 417027 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Liberty Media Corp.-Liberty Formula One, NVS<sup>(a)</sup> | &nbsp;&nbsp; 4629 | $374347 |
| Linde PLC | &nbsp;&nbsp; 2239 | 1015386 |
| Loews Corp. | &nbsp;&nbsp; 3917 | 313164 |
| Lowe's Companies Inc. | &nbsp;&nbsp; 7067 | 1735019 |
| Lululemon Athletica Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1891 | 489126 |
| M&T Bank Corp. | &nbsp;&nbsp; 2521 | 434041 |
| Markel Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 31 | 50804 |
| MarketAxess Holdings Inc. | &nbsp;&nbsp; 515 | 115118 |
| Marriott International Inc./MD, Class A | &nbsp;&nbsp; 2460 | 559158 |
| Marsh & McLennan Companies Inc. | &nbsp;&nbsp; 8920 | 1985324 |
| Marvell Technology Inc. | &nbsp;&nbsp; 13745 | 920640 |
| Masco Corp. | &nbsp;&nbsp; 7507 | 584420 |
| Mastercard Inc., Class A | &nbsp;&nbsp; 10940 | 5072987 |
| Match Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3375 | 128722 |
| McDonald's Corp. | &nbsp;&nbsp; 15041 | 3991881 |
| Medtronic PLC | &nbsp;&nbsp; 13029 | 1046489 |
| MercadoLibre Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 721 | 1203277 |
| Merck & Co. Inc. | &nbsp;&nbsp; 36162 | 4091007 |
| Meta Platforms Inc., Class A | &nbsp;&nbsp; 28492 | 13528856 |
| MetLife Inc. | &nbsp;&nbsp; 13118 | 1008118 |
| Mettler-Toledo International Inc.<sup>(a)</sup> | &nbsp;&nbsp; 281 | 427409 |
| MGM Resorts International<sup>(a)</sup> | &nbsp;&nbsp; 5113 | 219706 |
| Microchip Technology Inc. | &nbsp;&nbsp; 8034 | 713259 |
| Micron Technology Inc. | &nbsp;&nbsp; 12789 | 1404488 |
| Microsoft Corp. | &nbsp;&nbsp; 89840 | 37584564 |
| MicroStrategy Inc., Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 236 | 381008 |
| Moderna Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1640 | 195521 |
| Mondelez International Inc., Class A | &nbsp;&nbsp; 14095 | 963393 |
| MongoDB Inc., Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 439 | 110786 |
| Monolithic Power Systems Inc. | &nbsp;&nbsp; 757 | 653359 |
| Monster Beverage Corp.<sup>(a)</sup> | &nbsp;&nbsp; 19924 | 1025090 |
| Moody's Corp. | &nbsp;&nbsp; 1346 | 614422 |
| Morgan Stanley | &nbsp;&nbsp; 15404 | 1589847 |
| Motorola Solutions Inc. | &nbsp;&nbsp; 3550 | 1416166 |
| NetApp Inc. | &nbsp;&nbsp; 6937 | 880860 |
| Netflix Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5907 | 3711663 |
| Newmont Corp. | &nbsp;&nbsp; 16615 | 815298 |
| NextEra Energy Inc. | &nbsp;&nbsp; 22598 | 1726261 |
| Nike Inc., Class B | &nbsp;&nbsp; 15292 | 1144759 |
| Nordson Corp. | &nbsp;&nbsp; 853 | 213531 |
| Norfolk Southern Corp. | &nbsp;&nbsp; 3050 | 761158 |
| Northern Trust Corp. | &nbsp;&nbsp; 5784 | 512752 |
| Nvidia Corp. | &nbsp;&nbsp; 321997 | 37680089 |
| NXP Semiconductors NV | &nbsp;&nbsp; 4021 | 1058166 |
| Okta Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1638 | 153874 |
| Old Dominion Freight Line Inc. | &nbsp;&nbsp; 2839 | 596701 |
| Omnicom Group Inc. | &nbsp;&nbsp; 2495 | 244610 |
| ON Semiconductor Corp.<sup>(a)</sup> | &nbsp;&nbsp; 3660 | 286395 |
| ONEOK Inc. | &nbsp;&nbsp; 22810 | 1900757 |
| Oracle Corp. | &nbsp;&nbsp; 23394 | 3262293 |
| Otis Worldwide Corp. | &nbsp;&nbsp; 11923 | 1126723 |
| Palantir Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 24581 | 660983 |
| Palo Alto Networks Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3690 | 1198254 |
| Parker-Hannifin Corp. | &nbsp;&nbsp; 1719 | 964634 |
| Paychex Inc. | &nbsp;&nbsp; 10749 | 1376087 |
| Paycom Software Inc. | &nbsp;&nbsp; 2195 | 366104 |
| Paylocity Holding Corp.<sup>(a)</sup> | &nbsp;&nbsp; 715 | 107300 |
| PayPal Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 14645 | 963348 |
| PepsiCo Inc. | &nbsp;&nbsp; 13006 | 2245746 |
| Pfizer Inc. | &nbsp;&nbsp; 78030 | 2383036 |
| PG&E Corp. | &nbsp;&nbsp; 45019 | 821597 |
| Philip Morris International Inc. | &nbsp;&nbsp; 36368 | 4188139 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Pinterest Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 6091 | $194607 |
| PNC Financial Services Group Inc. (The) | &nbsp;&nbsp; 5521 | 999853 |
| Pool Corp. | &nbsp;&nbsp; 43 | 16084 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp; 37473 | 6024159 |
| Progressive Corp. (The) | &nbsp;&nbsp; 7028 | 1504835 |
| Prologis Inc. | &nbsp;&nbsp; 12908 | 1627053 |
| Prudential Financial Inc. | &nbsp;&nbsp; 2649 | 331973 |
| PTC Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3287 | 584593 |
| Public Service Enterprise Group Inc. | &nbsp;&nbsp; 8098 | 645977 |
| Public Storage | &nbsp;&nbsp; 2989 | 884505 |
| Pure Storage Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 5906 | 353947 |
| Qualcomm Inc. | &nbsp;&nbsp; 14609 | 2643499 |
| Quanta Services Inc.<sup>(c)</sup> | &nbsp;&nbsp; 644 | 170905 |
| Quest Diagnostics Inc. | &nbsp;&nbsp; 3789 | 539175 |
| Realty Income Corp. | &nbsp;&nbsp; 2177 | 125025 |
| Regency Centers Corp. | &nbsp;&nbsp; 573 | 38586 |
| Regeneron Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1404 | 1515183 |
| Reliance Inc. | &nbsp;&nbsp; 4851 | 1477421 |
| Repligen Corp.<sup>(a)</sup> | &nbsp;&nbsp; 238 | 39829 |
| ResMed Inc. | &nbsp;&nbsp; 1049 | 223699 |
| Revvity Inc. | &nbsp;&nbsp; 963 | 120962 |
| Rivian Automotive Inc., Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 34728 | 569886 |
| Robinhood Markets Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7283 | 149811 |
| ROBLOX Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1548 | 64273 |
| Rockwell Automation Inc. | &nbsp;&nbsp; 1449 | 403764 |
| Roku Inc.<sup>(a)</sup> | &nbsp;&nbsp; 721 | 41969 |
| Rollins Inc. | &nbsp;&nbsp; 7140 | 342077 |
| Roper Technologies Inc. | &nbsp;&nbsp; 3589 | 1955108 |
| Ross Stores Inc. | &nbsp;&nbsp; 3469 | 496865 |
| Royal Caribbean Cruises Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3281 | 514198 |
| Royalty Pharma PLC, Class A | &nbsp;&nbsp; 35255 | 993133 |
| S&P Global Inc. | &nbsp;&nbsp; 2792 | 1353366 |
| Salesforce Inc. | &nbsp;&nbsp; 12040 | 3115952 |
| SBA Communications Corp., Class A | &nbsp;&nbsp; 2178 | 478158 |
| Schlumberger NV | &nbsp;&nbsp; 56987 | 2751902 |
| Sempra Energy | &nbsp;&nbsp; 1576 | 126175 |
| ServiceNow Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2084 | 1697189 |
| Sherwin-Williams Co. (The) | &nbsp;&nbsp; 3435 | 1204998 |
| Simon Property Group Inc. | &nbsp;&nbsp; 6695 | 1027281 |
| Skyworks Solutions Inc. | &nbsp;&nbsp; 610 | 69308 |
| Snap Inc., Class A, NVS<sup>(a)</sup> | &nbsp;&nbsp; 14786 | 196950 |
| Snap-on Inc. | &nbsp;&nbsp; 2322 | 666484 |
| Snowflake Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 3156 | 411479 |
| Solventum Corp.<sup>(a)</sup> | &nbsp;&nbsp; 5677 | 334262 |
| SS&C Technologies Holdings Inc. | &nbsp;&nbsp; 20725 | 1511889 |
| Starbucks Corp. | &nbsp;&nbsp; 19991 | 1558298 |
| State Street Corp. | &nbsp;&nbsp; 5217 | 443288 |
| STERIS PLC | &nbsp;&nbsp; 1633 | 389895 |
| Stryker Corp. | &nbsp;&nbsp; 3918 | 1282949 |
| Super Micro Computer Inc.<sup>(a)</sup> | &nbsp;&nbsp; 717 | 503083 |
| Synchrony Financial | &nbsp;&nbsp; 12045 | 611766 |
| Synopsys Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1918 | 1070858 |
| T Rowe Price Group Inc. | &nbsp;&nbsp; 2303 | 263026 |
| Take-Two Interactive Software Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1849 | 278330 |
| Targa Resources Corp. | &nbsp;&nbsp; 26431 | 3575586 |
| Target Corp. | &nbsp;&nbsp; 3299 | 496203 |
| TE Connectivity Ltd. | &nbsp;&nbsp; 7077 | 1092193 |
| Teleflex Inc. | &nbsp;&nbsp; 934 | 206339 |
| Teradyne Inc. | &nbsp;&nbsp; 4524 | 593368 |
| Tesla Inc.<sup>(a)</sup> | &nbsp;&nbsp; 40793 | 9466832 |
| Texas Instruments Inc. | &nbsp;&nbsp; 13437 | 2738595 |
| Texas Pacific Land Corp. | &nbsp;&nbsp; 3231 | 2729872 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Thermo Fisher Scientific Inc. | &nbsp;&nbsp; 4881 | $2993713 |
| TJX Companies Inc. (The) | &nbsp;&nbsp; 8384 | 947560 |
| T-Mobile U.S. Inc. | &nbsp;&nbsp; 7336 | 1337206 |
| Toast Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2549 | 66682 |
| Trade Desk Inc. (The), Class A<sup>(a)</sup> | &nbsp;&nbsp; 6244 | 561211 |
| Tradeweb Markets Inc., Class A | &nbsp;&nbsp; 966 | 107883 |
| TransDigm Group Inc. | &nbsp;&nbsp; 144 | 186368 |
| TransUnion | &nbsp;&nbsp; 6349 | 573061 |
| Travelers Companies Inc. (The) | &nbsp;&nbsp; 3841 | 831346 |
| Trimble Inc.<sup>(a)</sup> | &nbsp;&nbsp; 10884 | 593613 |
| Truist Financial Corp. | &nbsp;&nbsp; 16369 | 731531 |
| Tyler Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 177 | 100555 |
| U.S. Bancorp | &nbsp;&nbsp; 17749 | 796575 |
| Uber Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 27073 | 1745396 |
| Ulta Beauty Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1455 | 530915 |
| Union Pacific Corp. | &nbsp;&nbsp; 9771 | 2410799 |
| United Parcel Service Inc., Class B | &nbsp;&nbsp; 5124 | 668016 |
| United Rentals Inc. | &nbsp;&nbsp; 2933 | 2220574 |
| United Therapeutics Corp.<sup>(a)</sup> | &nbsp;&nbsp; 817 | 255958 |
| UnitedHealth Group Inc. | &nbsp;&nbsp; 12001 | 6914496 |
| Veeva Systems Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 3919 | 752174 |
| Veralto Corp. | &nbsp;&nbsp; 3330 | 354845 |
| VeriSign Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1136 | 212443 |
| Verisk Analytics Inc., Class A | &nbsp;&nbsp; 4902 | 1283098 |
| Verizon Communications Inc. | &nbsp;&nbsp; 65007 | 2634084 |
| Vertex Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3399 | 1684952 |
| Vertiv Holdings Co., Class A | &nbsp;&nbsp; 7400 | 582380 |
| Viatris Inc. | &nbsp;&nbsp; 35652 | 429963 |
| VICI Properties Inc., Class A | &nbsp;&nbsp; 22704 | 709727 |
| Visa Inc., Class A<sup>(c)</sup> | &nbsp;&nbsp; 22541 | 5988467 |
| Vulcan Materials Co. | &nbsp;&nbsp; 3175 | 871569 |
| W R Berkley Corp. | &nbsp;&nbsp; 4086 | 225261 |
| Walmart Inc. | &nbsp;&nbsp; 40405 | 2773399 |
| Walt Disney Co. (The) | &nbsp;&nbsp; 24272 | 2274044 |
| Warner Bros Discovery Inc.<sup>(a)</sup> | &nbsp;&nbsp; 5721 | 49487 |
| Waters Corp.<sup>(a)</sup> | &nbsp;&nbsp; 477 | 160406 |
| Wells Fargo & Co. | &nbsp;&nbsp; 46980 | 2787793 |
| Welltower Inc. | &nbsp;&nbsp; 5436 | 604755 |
| West Pharmaceutical Services Inc. | &nbsp;&nbsp; 1065 | 326071 |
| Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp; 5683 | 915815 |
| Williams Companies Inc. (The) | &nbsp;&nbsp; 39629 | 1701669 |
| Willis Towers Watson PLC | &nbsp;&nbsp; 1779 | 502176 |
| Workday Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1545 | 350900 |
| WW Grainger Inc. | &nbsp;&nbsp; 314 | 306718 |
| Wynn Resorts Ltd. | &nbsp;&nbsp; 3104 | 257073 |
| Xylem Inc./New York | &nbsp;&nbsp; 9539 | 1273456 |
| Yum! Brands Inc. | &nbsp;&nbsp; 3641 | 483634 |
| Zillow Group Inc., Class C <sup>(a)</sup> | &nbsp;&nbsp; 5853 | 285041 |
| Zimmer Biomet Holdings Inc. | &nbsp;&nbsp; 5698 | 634472 |
| Zoetis Inc. | &nbsp;&nbsp; 6569 | 1182683 |
| Zoom Video Communications Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1778 | 107391 |
|  |  | 611170120 |
| **Total Common Stocks — 99.6%** <br>**(Cost: $757,881,517)** | **Total Common Stocks — 99.6%** <br>**(Cost: $757,881,517)** | 958708136 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Brazil — 0.1%** | **Brazil — 0.1%** | **Brazil — 0.1%** |
| Banco Bradesco SA, Preference Shares, NVS | &nbsp;&nbsp; 160304 | $352285 |
| Itau Unibanco Holding SA, Preference Shares, NVS | &nbsp;&nbsp; 69771 | 417924 |
|  |  | 770209 |
| **Colombia — 0.0%** | **Colombia — 0.0%** | **Colombia — 0.0%** |
| Bancolombia SA, Preference Shares, NVS | &nbsp;&nbsp; 17042 | 142613 |
| **Germany — 0.1%** | **Germany — 0.1%** | **Germany — 0.1%** |
| Dr Ing hc F Porsche AG, Preference Shares, NVS<sup>(b)(c)</sup> | &nbsp;&nbsp; 8975 | 675824 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 115 | 32616 |
|  |  | 708440 |
| **Total Preferred Stocks — 0.2%** <br>**(Cost: $1,822,240)** | **Total Preferred Stocks — 0.2%** <br>**(Cost: $1,822,240)** | 1621262 |
| **Warrants** | **Warrants** | **Warrants** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| Constellation Software Inc., (Issued 08/29/23, 1 Share <br> for 1 Warrant, Expires 03/31/40, Strike Price <br> CAD 11.50)<sup>(d)</sup><br>| &nbsp;&nbsp; 555 |  |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** |  |
| **Total Long-Term Investments — 99.8%** <br>**(Cost: $759,703,757)** | **Total Long-Term Investments — 99.8%** <br>**(Cost: $759,703,757)** | 960329398 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.0%** | **Money Market Funds — 1.0%** | **Money Market Funds — 1.0%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 8734624 | 8738118 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 1170000 | 1170000 |
| **Total Short-Term Securities — 1.0%** <br>**(Cost: $9,906,270)** | **Total Short-Term Securities — 1.0%** <br>**(Cost: $9,906,270)** | 9908118 |
| **Total Investments — 100.8%** <br>**(Cost: $769,610,027)** | **Total Investments — 100.8%** <br>**(Cost: $769,610,027)** | 970237516 |
| **Liabilities in Excess of Other Assets — (0.8)%** | **Liabilities in Excess of Other Assets — (0.8)%** | (7488100)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $962749416 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> 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. 

<sup>(c)</sup> All or a portion of this security is on loan.

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $7598918 | $1142659 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(2799)<br>| $(660)<br>| $8738118 | 8734624 | $80845 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 1170000 | 0 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — |  |  | 1170000 | 1170000 | 67431 | &nbsp;&nbsp; — |
| BlackRock Inc. | 1248656 | 137609 | &nbsp;&nbsp; (104757)<br>| 43086 | 193504 | 1518098 | 1732 | 33448 | &nbsp;&nbsp; — |
|  |  |  |  | $40287 | $192844 | $11426216 |  | $181724 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| MSCI EAFE Index | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $478 | &nbsp;&nbsp; $7602 |
| MSCI Emerging Markets Index | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 274 | &nbsp;&nbsp; (3755)<br>|
| S&P 500 E-Mini Index | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 1390 | &nbsp;&nbsp; 3802 |
|  |  |  |  | &nbsp;&nbsp; $7649 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11404 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11404 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3755 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3755 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI ACWI Low Carbon Target ETF**

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $296366 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $296366 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(115885)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(115885)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $2523126 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $663279910 | &nbsp;&nbsp; $295428078 | &nbsp;&nbsp; $148 | &nbsp;&nbsp; $958708136 |
| Preferred Stocks | &nbsp;&nbsp; 912822 | &nbsp;&nbsp; 708440 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1621262 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 9908118 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 9908118 |
|  | &nbsp;&nbsp; $674100850 | &nbsp;&nbsp; $296136518 | &nbsp;&nbsp; $148 | &nbsp;&nbsp; $970237516 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $11404 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11404 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; (3755)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (3755)<br>|
|  | &nbsp;&nbsp; $7649 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $7649 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **China — 27.9%** | **China — 27.9%** | **China — 27.9%** |
| 360 Security Technology Inc., Class A | &nbsp;&nbsp; 130400 | $135356 |
| 37 Interactive Entertainment Network Technology <br> Group Co. Ltd., Class A<br>| &nbsp;&nbsp; 65249 | 119531 |
| AAC Technologies Holdings Inc. | &nbsp;&nbsp; 244500 | 894990 |
| AECC Aviation Power Co. Ltd., Class A | &nbsp;&nbsp; 66291 | 364819 |
| Agricultural Bank of China Ltd., Class A | &nbsp;&nbsp; 2037500 | 1293905 |
| Agricultural Bank of China Ltd., Class H | &nbsp;&nbsp; 9617000 | 4303536 |
| Aier Eye Hospital Group Co. Ltd., Class A | &nbsp;&nbsp; 225060 | 344867 |
| Air China Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 228219 | 230354 |
| Akeso Inc.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 163000 | 882757 |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp; 5558340 | 54695303 |
| Alibaba Health Information Technology Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1964000 | 830735 |
| Aluminum Corp. of China Ltd., Class A | &nbsp;&nbsp; 342399 | 327151 |
| Aluminum Corp. of China Ltd., Class H | &nbsp;&nbsp; 1310000 | 733318 |
| Angel Yeast Co. Ltd., Class A | &nbsp;&nbsp; 32698 | 135610 |
| Anhui Conch Cement Co. Ltd., Class A | &nbsp;&nbsp; 97880 | 327497 |
| Anhui Conch Cement Co. Ltd., Class H | &nbsp;&nbsp; 407500 | 993580 |
| Anhui Gujing Distillery Co. Ltd., Class A | &nbsp;&nbsp; 35 | 911 |
| Anhui Gujing Distillery Co. Ltd., Class B | &nbsp;&nbsp; 49410 | 658803 |
| Anhui Kouzi Distillery Co. Ltd., Class A | &nbsp;&nbsp; 16300 | 86171 |
| Anhui Yingjia Distillery Co. Ltd., Class A | &nbsp;&nbsp; 16700 | 120728 |
| ANTA Sports Products Ltd. | &nbsp;&nbsp; 456400 | 4085162 |
| Autohome Inc., ADR | &nbsp;&nbsp; 23146 | 577261 |
| Avary Holding Shenzhen Co. Ltd., Class A | &nbsp;&nbsp; 49500 | 256056 |
| AVIC Industry-Finance Holdings Co. Ltd., Class A | &nbsp;&nbsp; 244500 | 81579 |
| AviChina Industry & Technology Co. Ltd., Class H | &nbsp;&nbsp; 818000 | 400143 |
| Baidu Inc.<sup>(a)</sup> | &nbsp;&nbsp; 806870 | 8946252 |
| Bank of Beijing Co. Ltd., Class A | &nbsp;&nbsp; 619400 | 456947 |
| Bank of Chengdu Co. Ltd., Class A | &nbsp;&nbsp; 81500 | 164625 |
| Bank of China Ltd., Class A | &nbsp;&nbsp; 847600 | 546776 |
| Bank of China Ltd., Class H | &nbsp;&nbsp; 28362000 | 12629261 |
| Bank of Communications Co. Ltd., Class A | &nbsp;&nbsp; 798786 | 813668 |
| Bank of Communications Co. Ltd., Class H | &nbsp;&nbsp; 3097100 | 2250318 |
| Bank of Hangzhou Co. Ltd., Class A | &nbsp;&nbsp; 163060 | 303968 |
| Bank of Jiangsu Co. Ltd., Class A | &nbsp;&nbsp; 342300 | 364419 |
| Bank of Nanjing Co. Ltd., Class A | &nbsp;&nbsp; 280100 | 391209 |
| Bank of Ningbo Co. Ltd., Class A | &nbsp;&nbsp; 163025 | 485442 |
| Bank of Shanghai Co. Ltd., Class A | &nbsp;&nbsp; 440141 | 444092 |
| Baoshan Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp; 554295 | 521619 |
| BeiGene Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 244530 | 3111092 |
| Beijing Enlight Media Co. Ltd., Class A | &nbsp;&nbsp; 81500 | 87146 |
| Beijing Enterprises Holdings Ltd. | &nbsp;&nbsp; 163000 | 540843 |
| Beijing Enterprises Water Group Ltd. | &nbsp;&nbsp; 1630000 | 502938 |
| Beijing Kingsoft Office Software Inc., Class A | &nbsp;&nbsp; 14800 | 432029 |
| Beijing New Building Materials PLC, Class A | &nbsp;&nbsp; 49526 | 178174 |
| Beijing Tongrentang Co. Ltd., Class A | &nbsp;&nbsp; 32600 | 168383 |
| Beijing Wantai Biological Pharmacy Enterprise Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 25033 | 238711 |
| Beijing-Shanghai High Speed Railway Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 1043200 | 826322 |
| Bethel Automotive Safety Systems Co. Ltd. | &nbsp;&nbsp; 23020 | 133467 |
| Bilibili Inc.<sup>(a)(c)</sup> | &nbsp;&nbsp; 80008 | 1217411 |
| BOC Aviation Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 81700 | 716836 |
| BOE Technology Group Co. Ltd., Class A | &nbsp;&nbsp; 945400 | 516392 |
| Bosideng International Holdings Ltd. | &nbsp;&nbsp; 1440000 | 720659 |
| BYD Co. Ltd., Class A | &nbsp;&nbsp; 32650 | 1116706 |
| BYD Co. Ltd., Class H | &nbsp;&nbsp; 383000 | 11338624 |
| BYD Electronic International Co. Ltd. | &nbsp;&nbsp; 244500 | 951563 |
| By-health Co. Ltd., Class A | &nbsp;&nbsp; 48900 | 91768 |
| C&D International Investment Group Ltd. | &nbsp;&nbsp; 297000 | 497808 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Caitong Securities Co. Ltd., Class A | &nbsp;&nbsp; 174208 | $166187 |
| Cambricon Technologies Corp. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 6325 | 231389 |
| CGN Power Co. Ltd. | &nbsp;&nbsp; 330000 | 213778 |
| CGN Power Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 3749000 | 1530975 |
| Changchun High-Tech Industry Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 16300 | 214057 |
| Changjiang Securities Co. Ltd., Class A | &nbsp;&nbsp; 261600 | 187685 |
| Chaozhou Three-Circle Group Co. Ltd., Class A | &nbsp;&nbsp; 65297 | 296371 |
| China CITIC Bank Corp. Ltd., Class H | &nbsp;&nbsp; 3423200 | 2048547 |
| China Coal Energy Co. Ltd., Class H | &nbsp;&nbsp; 815000 | 825686 |
| China Communications Services Corp. Ltd., <br> Class H<br>| &nbsp;&nbsp; 978000 | 502450 |
| China Construction Bank Corp., Class A | &nbsp;&nbsp; 277100 | 285492 |
| China Construction Bank Corp., Class H | &nbsp;&nbsp; 34230390 | 23902594 |
| China CSSC Holdings Ltd., Class A | &nbsp;&nbsp; 114100 | 647893 |
| China Eastern Airlines Corp. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 277195 | 153103 |
| China Energy Engineering Corp. Ltd. | &nbsp;&nbsp; 749800 | 229389 |
| China Everbright Bank Co. Ltd., Class A | &nbsp;&nbsp; 1026900 | 449120 |
| China Everbright Bank Co. Ltd., Class H | &nbsp;&nbsp; 1141000 | 344502 |
| China Feihe Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 1467000 | 664391 |
| China Galaxy Securities Co. Ltd., Class A | &nbsp;&nbsp; 97851 | 147422 |
| China Galaxy Securities Co. Ltd., Class H | &nbsp;&nbsp; 1141000 | 583984 |
| China Gas Holdings Ltd. | &nbsp;&nbsp; 1043200 | 948707 |
| China Greatwall Technology Group Co. Ltd., <br> Class A<sup>(a)</sup><br>| &nbsp;&nbsp; 81500 | 98192 |
| China Hongqiao Group Ltd. | &nbsp;&nbsp; 978000 | 1218202 |
| China International Capital Corp. Ltd., Class A | &nbsp;&nbsp; 48900 | 205069 |
| China International Capital Corp. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 586800 | 654043 |
| China Jushi Co. Ltd., Class A | &nbsp;&nbsp; 97871 | 143971 |
| China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp; 65290 | 290990 |
| China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 2608000 | 3618224 |
| China Literature Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 131000 | 424493 |
| China Longyuan Power Group Corp. Ltd., Class H | &nbsp;&nbsp; 1193000 | 1069712 |
| China Mengniu Dairy Co. Ltd. | &nbsp;&nbsp; 1141000 | 1909227 |
| China Merchants Bank Co. Ltd., Class A | &nbsp;&nbsp; 440104 | 1992921 |
| China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp; 1385946 | 5744505 |
| China Merchants Energy Shipping Co. Ltd., Class A | &nbsp;&nbsp; 228200 | 246385 |
| China Merchants Expressway Network & <br> Technology Holdings Co. Ltd.<br>| &nbsp;&nbsp; 99000 | 168830 |
| China Merchants Port Holdings Co. Ltd. | &nbsp;&nbsp; 652180 | 958988 |
| China Merchants Securities Co. Ltd., Class A | &nbsp;&nbsp; 195665 | 403108 |
| China Merchants Shekou Industrial Zone Holdings <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 114160 | 138985 |
| China Minsheng Banking Corp. Ltd., Class A | &nbsp;&nbsp; 1010698 | 496957 |
| China Minsheng Banking Corp. Ltd., Class H | &nbsp;&nbsp; 2037520 | 722118 |
| China National Building Material Co. Ltd., Class H | &nbsp;&nbsp; 1630000 | 540233 |
| China National Chemical Engineering Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 179356 | 186104 |
| China National Nuclear Power Co. Ltd., Class A | &nbsp;&nbsp; 456400 | 697207 |
| China National Software & Service Co. Ltd., <br> Class A<sup>(a)</sup><br>| &nbsp;&nbsp; 22750 | 97437 |
| China Northern Rare Earth Group High-Tech Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 97800 | 237043 |
| China Oilfield Services Ltd., Class H | &nbsp;&nbsp; 792000 | 697668 |
| China Overseas Land & Investment Ltd. | &nbsp;&nbsp; 1385760 | 2240268 |
| China Pacific Insurance Group Co. Ltd., Class A | &nbsp;&nbsp; 179398 | 734133 |
| China Pacific Insurance Group Co. Ltd., Class H | &nbsp;&nbsp; 880200 | 2339585 |
| China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp; 815092 | 731883 |
| China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp; 8476000 | 5432130 |
| China Power International Development Ltd. | &nbsp;&nbsp; 1794000 | 844448 |
| China Railway Group Ltd., Class A | &nbsp;&nbsp; 440100 | 379072 |
| China Railway Group Ltd., Class H | &nbsp;&nbsp; 1467000 | 715399 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| China Resources Beer Holdings Co. Ltd. | &nbsp;&nbsp; 570500 | $1774782 |
| China Resources Gas Group Ltd. | &nbsp;&nbsp; 358600 | 1217009 |
| China Resources Land Ltd. | &nbsp;&nbsp; 1141055 | 3410717 |
| China Resources Microelectronics Ltd. | &nbsp;&nbsp; 28396 | 156355 |
| China Resources Mixc Lifestyle Services Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 228800 | 641374 |
| China Resources Pharmaceutical Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 652000 | 445823 |
| China Resources Power Holdings Co. Ltd. | &nbsp;&nbsp; 652000 | 1793544 |
| China Resources Sanjiu Medical & Pharmaceutical <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 42954 | 245441 |
| China Ruyi Holdings Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 1956000 | 522871 |
| China Shenhua Energy Co. Ltd., Class A | &nbsp;&nbsp; 130418 | 717669 |
| China Shenhua Energy Co. Ltd., Class H | &nbsp;&nbsp; 1222500 | 5083290 |
| China Southern Airlines Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 309700 | 253940 |
| China State Construction Engineering Corp. Ltd., <br> Class A<br>| &nbsp;&nbsp; 994300 | 768387 |
| China State Construction International Holdings Ltd. | &nbsp;&nbsp; 652000 | 911299 |
| China Taiping Insurance Holdings Co. Ltd. | &nbsp;&nbsp; 554390 | 590226 |
| China Three Gorges Renewables Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 700900 | 471599 |
| China Tourism Group Duty Free Corp. Ltd.<sup>(b)(c)</sup> | &nbsp;&nbsp; 32600 | 230336 |
| China Tourism Group Duty Free Corp. Ltd., Class A | &nbsp;&nbsp; 49998 | 475246 |
| China Tower Corp. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 16300000 | 1999986 |
| China United Network Communications Ltd., <br> Class A<br>| &nbsp;&nbsp; 646100 | 420586 |
| China Vanke Co. Ltd., Class A | &nbsp;&nbsp; 212107 | 208269 |
| China Vanke Co. Ltd., Class H<sup>(a)(c)</sup> | &nbsp;&nbsp; 749884 | 411200 |
| China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp; 489048 | 2021369 |
| China Zhenhua Group Science & Technology Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 16300 | 91634 |
| China Zheshang Bank Co. Ltd., Class A | &nbsp;&nbsp; 472700 | 184592 |
| Chongqing Brewery Co. Ltd., Class A | &nbsp;&nbsp; 17996 | 154432 |
| Chongqing Changan Automobile Co. Ltd., Class A | &nbsp;&nbsp; 212078 | 428678 |
| Chongqing Zhifei Biological Products Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 48900 | 191894 |
| Chow Tai Fook Jewellery Group Ltd. | &nbsp;&nbsp; 717600 | 651710 |
| CITIC Ltd. | &nbsp;&nbsp; 2119000 | 1953649 |
| CITIC Securities Co. Ltd., Class A | &nbsp;&nbsp; 260802 | 714656 |
| CITIC Securities Co. Ltd., Class H | &nbsp;&nbsp; 570525 | 858015 |
| CMOC Group Ltd., Class A | &nbsp;&nbsp; 440100 | 456747 |
| CMOC Group Ltd., Class H | &nbsp;&nbsp; 978000 | 780013 |
| Contemporary Amperex Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 97898 | 2523264 |
| COSCO Shipping Energy Transportation Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 81500 | 173733 |
| COSCO Shipping Energy Transportation Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 326000 | 391391 |
| COSCO Shipping Holdings Co. Ltd., Class A | &nbsp;&nbsp; 309912 | 564766 |
| COSCO Shipping Holdings Co. Ltd., Class H | &nbsp;&nbsp; 978399 | 1397263 |
| Country Garden Holdings Co. Ltd.<sup>(a)(c)(d)</sup> | &nbsp;&nbsp; 2226000 | 68380 |
| CRRC Corp. Ltd., Class A | &nbsp;&nbsp; 708400 | 748674 |
| CRRC Corp. Ltd., Class H | &nbsp;&nbsp; 1225000 | 759062 |
| CSC Financial Co. Ltd., Class A | &nbsp;&nbsp; 114199 | 314394 |
| CSPC Innovation Pharmaceutical Co. Ltd. | &nbsp;&nbsp; 32080 | 108814 |
| CSPC Pharmaceutical Group Ltd. | &nbsp;&nbsp; 2935440 | 2183514 |
| Daqin Railway Co. Ltd., Class A | &nbsp;&nbsp; 374900 | 361703 |
| DaShenLin Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp; 27080 | 49305 |
| Dong-E-E-Jiao Co. Ltd., Class A | &nbsp;&nbsp; 16300 | 110309 |
| Dongfang Electric Corp. Ltd., Class A | &nbsp;&nbsp; 81588 | 184655 |
| Dongxing Securities Co. Ltd., Class A | &nbsp;&nbsp; 131298 | 159822 |
| East Money Information Co. Ltd., Class A | &nbsp;&nbsp; 391214 | 603284 |
| Ecovacs Robotics Co. Ltd., Class A | &nbsp;&nbsp; 16300 | 92943 |
| ENN Energy Holdings Ltd. | &nbsp;&nbsp; 293400 | 2052996 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Eoptolink Technology Inc. Ltd. | &nbsp;&nbsp; 16500 | $231011 |
| Eve Energy Co. Ltd., Class A | &nbsp;&nbsp; 48916 | 260249 |
| Everbright Securities Co. Ltd., Class A | &nbsp;&nbsp; 98893 | 207822 |
| Far East Horizon Ltd. | &nbsp;&nbsp; 489000 | 333600 |
| First Capital Securities Co. Ltd., Class A | &nbsp;&nbsp; 146700 | 107528 |
| Flat Glass Group Co. Ltd., Class A | &nbsp;&nbsp; 48900 | 127909 |
| Flat Glass Group Co. Ltd., Class H | &nbsp;&nbsp; 163000 | 236548 |
| Focus Media Information Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 376040 | 301682 |
| Foshan Haitian Flavouring & Food Co. Ltd., Class A | &nbsp;&nbsp; 113692 | 553179 |
| Fosun International Ltd. | &nbsp;&nbsp; 815000 | 424575 |
| Founder Securities Co. Ltd., Class A | &nbsp;&nbsp; 179300 | 192680 |
| Foxconn Industrial Internet Co. Ltd., Class A | &nbsp;&nbsp; 293400 | 986043 |
| Fuyao Glass Industry Group Co. Ltd., Class A | &nbsp;&nbsp; 65299 | 406836 |
| Fuyao Glass Industry Group Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 195600 | 1021456 |
| Ganfeng Lithium Group Co. Ltd., Class A | &nbsp;&nbsp; 48957 | 190850 |
| Ganfeng Lithium Group Co. Ltd., Class H<sup>(b)(c)</sup> | &nbsp;&nbsp; 140720 | 295495 |
| GCL Technology Holdings Ltd. | &nbsp;&nbsp; 7654000 | 1076903 |
| GD Power Development Co. Ltd., Class A | &nbsp;&nbsp; 456400 | 351257 |
| Geely Automobile Holdings Ltd. | &nbsp;&nbsp; 2119000 | 2153025 |
| Genscript Biotech Corp.<sup>(a)(c)</sup> | &nbsp;&nbsp; 326000 | 519386 |
| GF Securities Co. Ltd., Class A | &nbsp;&nbsp; 130400 | 226815 |
| GF Securities Co. Ltd., Class H | &nbsp;&nbsp; 391200 | 336305 |
| Giant Biogene Holding Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 97800 | 506968 |
| GigaDevice Semiconductor Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 16435 | 196077 |
| Ginlong Technologies Co. Ltd., Class A | &nbsp;&nbsp; 16300 | 144102 |
| GoerTek Inc., Class A | &nbsp;&nbsp; 81797 | 244283 |
| Goldwind Science & Technology Co Ltd., Class A | &nbsp;&nbsp; 97813 | 108481 |
| Gongniu Group Co. Ltd. | &nbsp;&nbsp; 24285 | 235647 |
| Gotion High-tech Co. Ltd., Class A | &nbsp;&nbsp; 48900 | 132471 |
| Great Wall Motor Co. Ltd. | &nbsp;&nbsp; 49100 | 160497 |
| Great Wall Motor Co. Ltd., Class H | &nbsp;&nbsp; 896500 | 1224061 |
| Gree Electric Appliances Inc. of Zhuhai, Class A | &nbsp;&nbsp; 65200 | 361233 |
| GRG Banking Equipment Co. Ltd., Class A | &nbsp;&nbsp; 32660 | 45613 |
| Guangdong Haid Group Co. Ltd., Class A | &nbsp;&nbsp; 32999 | 200663 |
| Guangdong Investment Ltd. | &nbsp;&nbsp; 978000 | 512871 |
| Guanghui Energy Co. Ltd., Class A | &nbsp;&nbsp; 213000 | 179681 |
| Guangzhou Automobile Group Co. Ltd., Class A | &nbsp;&nbsp; 114100 | 130105 |
| Guangzhou Automobile Group Co. Ltd., Class H | &nbsp;&nbsp; 978397 | 360858 |
| Guangzhou Baiyunshan Pharmaceutical Holdings <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 48900 | 198134 |
| Guangzhou Haige Communications Group Inc. Co., <br> Class A<br>| &nbsp;&nbsp; 114111 | 157715 |
| Guangzhou Kingmed Diagnostics Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 17998 | 72453 |
| Guangzhou Shiyuan Electronic Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 17358 | 71437 |
| Guangzhou Tinci Materials Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 48900 | 106529 |
| Guosen Securities Co. Ltd., Class A | &nbsp;&nbsp; 211900 | 259498 |
| Guotai Junan Securities Co. Ltd., Class A | &nbsp;&nbsp; 97800 | 194625 |
| Guoyuan Securities Co. Ltd., Class A | &nbsp;&nbsp; 163030 | 150197 |
| H World Group Ltd., ADR | &nbsp;&nbsp; 75843 | 2275290 |
| Haidilao International Holding Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 652000 | 1057504 |
| Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp; 179300 | 677456 |
| Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp; 815000 | 2664573 |
| Hainan Airlines Holding Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 733000 | 111567 |
| Haitian International Holdings Ltd. | &nbsp;&nbsp; 163000 | 472909 |
| Haitong Securities Co. Ltd., Class A | &nbsp;&nbsp; 358600 | 450594 |
| Haitong Securities Co. Ltd., Class H | &nbsp;&nbsp; 721600 | 333639 |
| Hangzhou First Applied Material Co. Ltd., Class A | &nbsp;&nbsp; 68652 | 147759 |
| Hangzhou Robam Appliances Co. Ltd., Class A | &nbsp;&nbsp; 32783 | 98443 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Hangzhou Silan Microelectronics Co. Ltd., <br> Class A<sup>(a)</sup><br>| &nbsp;&nbsp; 16500 | $49267 |
| Hangzhou Tigermed Consulting Co. Ltd., Class A | &nbsp;&nbsp; 17390 | 129005 |
| Hansoh Pharmaceutical Group Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 326000 | 713084 |
| Henan Shenhuo Coal Industry & Electricity Power <br> Co. Ltd.<br>| &nbsp;&nbsp; 49500 | 112829 |
| Henan Shuanghui Investment & Development Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 81598 | 260574 |
| Hengan International Group Co. Ltd. | &nbsp;&nbsp; 244500 | 763783 |
| Hengli Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 195699 | 378661 |
| Hengyi Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 146700 | 131358 |
| Hesteel Co. Ltd., Class A | &nbsp;&nbsp; 309700 | 83245 |
| Hisense Home Appliances Group Co. Ltd., Class H | &nbsp;&nbsp; 163136 | 527404 |
| Hithink RoyalFlush Information Network Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 16388 | 242525 |
| Hoshine Silicon Industry Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 16300 | 107948 |
| Hua Hong Semiconductor Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 163000 | 432209 |
| Huadian Power International Corp. Ltd., Class A | &nbsp;&nbsp; 270400 | 226392 |
| Huadong Medicine Co. Ltd., Class A | &nbsp;&nbsp; 48987 | 197871 |
| Huaibei Mining Holdings Co. Ltd. | &nbsp;&nbsp; 66000 | 136215 |
| Hualan Biological Engineering Inc., Class A | &nbsp;&nbsp; 49180 | 112267 |
| Huaneng Power International Inc., Class A | &nbsp;&nbsp; 326000 | 358748 |
| Huaneng Power International Inc., Class H | &nbsp;&nbsp; 1308000 | 777295 |
| Huatai Securities Co. Ltd., Class A | &nbsp;&nbsp; 211900 | 390012 |
| Huatai Securities Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 358600 | 396749 |
| Huaxia Bank Co. Ltd., Class A | &nbsp;&nbsp; 456499 | 396772 |
| Huayu Automotive Systems Co. Ltd., Class A | &nbsp;&nbsp; 81700 | 176319 |
| Huizhou Desay Sv Automotive Co. Ltd., Class A | &nbsp;&nbsp; 16300 | 215542 |
| Hundsun Technologies Inc., Class A | &nbsp;&nbsp; 47135 | 119567 |
| Hygeia Healthcare Holdings Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 130400 | 351334 |
| Hygon Information Technology Co. Ltd., NVS | &nbsp;&nbsp; 43220 | 476279 |
| IEIT Systems Co. Ltd., Class A | &nbsp;&nbsp; 44848 | 233454 |
| Iflytek Co. Ltd., Class A | &nbsp;&nbsp; 48900 | 269773 |
| Imeik Technology Development Co. Ltd., Class A | &nbsp;&nbsp; 5740 | 139733 |
| Industrial & Commercial Bank of China Ltd., <br> Class A<br>| &nbsp;&nbsp; 1206200 | 976842 |
| Industrial & Commercial Bank of China Ltd., <br> Class H<br>| &nbsp;&nbsp; 23309350 | 12912957 |
| Industrial Bank Co. Ltd., Class A | &nbsp;&nbsp; 423825 | 982750 |
| Industrial Securities Co. Ltd., Class A | &nbsp;&nbsp; 302986 | 228991 |
| Ingenic Semiconductor Co. Ltd., Class A | &nbsp;&nbsp; 16700 | 129395 |
| Inner Mongolia BaoTou Steel Union Co. Ltd., <br> Class A<sup>(a)</sup><br>| &nbsp;&nbsp; 1188096 | 240326 |
| Inner Mongolia Dian Tou Energy Corp. Ltd.  | &nbsp;&nbsp; 49500 | 129624 |
| Inner Mongolia Junzheng Energy & Chemical <br> Industry Group Co. Ltd., Class A<br>| &nbsp;&nbsp; 505300 | 262412 |
| Inner Mongolia Yili Industrial Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 163091 | 566767 |
| Inner Mongolia Yitai Coal Co. Ltd., Class B | &nbsp;&nbsp; 390725 | 708384 |
| Innovent Biologics Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 407500 | 2017256 |
| iQIYI Inc., ADR<sup>(a)(c)</sup> | &nbsp;&nbsp; 159740 | 531934 |
| JA Solar Technology Co. Ltd., Class A | &nbsp;&nbsp; 81532 | 121925 |
| Jason Furniture Hangzhou Co. Ltd., Class A | &nbsp;&nbsp; 23980 | 84247 |
| JCET Group Co. Ltd., Class A | &nbsp;&nbsp; 33400 | 154849 |
| JD Health International Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 407600 | 1131313 |
| JD Logistics Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 700900 | 720884 |
| JD.com Inc. | &nbsp;&nbsp; 831332 | 10961609 |
| Jiangsu Eastern Shenghong Co. Ltd., Class A | &nbsp;&nbsp; 163000 | 179106 |
| Jiangsu Expressway Co. Ltd., Class H | &nbsp;&nbsp; 652000 | 620050 |
| Jiangsu Hengli Hydraulic Co. Ltd., Class A | &nbsp;&nbsp; 32665 | 207089 |
| Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp; 146710 | 856926 |
| Jiangsu King's Luck Brewery JSC Ltd., Class A | &nbsp;&nbsp; 32600 | 199393 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Jiangsu Yanghe Distillery Co. Ltd., Class A | &nbsp;&nbsp; 32600 | $369188 |
| Jiangsu Yoke Technology Co. Ltd., Class A | &nbsp;&nbsp; 16700 | 137525 |
| Jiangsu Yuyue Medical Equipment & Supply Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 32600 | 167887 |
| Jiangsu Zhongtian Technology Co. Ltd., Class A | &nbsp;&nbsp; 81700 | 169383 |
| Jiangxi Copper Co. Ltd., Class A | &nbsp;&nbsp; 65200 | 194072 |
| Jiangxi Copper Co. Ltd., Class H | &nbsp;&nbsp; 489000 | 859632 |
| Jinko Solar Co. Ltd. | &nbsp;&nbsp; 143968 | 145914 |
| Joincare Pharmaceutical Group Industry Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 81500 | 119100 |
| Jointown Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp; 178245 | 113877 |
| Jonjee Hi-Tech Industrial & Commercial Holding Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 32686 | 88951 |
| Kanzhun Ltd., ADR | &nbsp;&nbsp; 96170 | 1305989 |
| KE Holdings Inc., ADR | &nbsp;&nbsp; 232601 | 3221524 |
| Kingdee International Software Group Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 978000 | 783741 |
| Kingsoft Corp. Ltd. | &nbsp;&nbsp; 359000 | 1016918 |
| Kuaishou Technology<sup>(a)(b)</sup> | &nbsp;&nbsp; 831300 | 4655857 |
| Kunlun Energy Co. Ltd. | &nbsp;&nbsp; 1304000 | 1264087 |
| Kunlun Tech Co. Ltd., Class A | &nbsp;&nbsp; 35400 | 148218 |
| Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp; 28472 | 5599664 |
| LB Group Co. Ltd., Class A | &nbsp;&nbsp; 65200 | 155696 |
| Legend Biotech Corp., ADR<sup>(a)</sup> | &nbsp;&nbsp; 26732 | 1507417 |
| Lenovo Group Ltd. | &nbsp;&nbsp; 2934000 | 3800146 |
| Lens Technology Co. Ltd., Class A | &nbsp;&nbsp; 130486 | 323199 |
| Lepu Medical Technology Beijing Co. Ltd., Class A | &nbsp;&nbsp; 48900 | 88807 |
| Li Auto Inc.<sup>(a)</sup> | &nbsp;&nbsp; 440136 | 4305503 |
| Li Ning Co. Ltd. | &nbsp;&nbsp; 815000 | 1518030 |
| Lingyi iTech Guangdong Co., Class A | &nbsp;&nbsp; 244500 | 244440 |
| Livzon Pharmaceutical Group Inc., Class A | &nbsp;&nbsp; 32601 | 165881 |
| Longfor Group Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 733500 | 952896 |
| LONGi Green Energy Technology Co. Ltd., Class A | &nbsp;&nbsp; 179328 | 360503 |
| Luxshare Precision Industry Co. Ltd., Class A | &nbsp;&nbsp; 163230 | 867278 |
| Luzhou Laojiao Co. Ltd., Class A | &nbsp;&nbsp; 32600 | 589972 |
| Mango Excellent Media Co. Ltd., Class A | &nbsp;&nbsp; 49650 | 141572 |
| Maxscend Microelectronics Co. Ltd., Class A | &nbsp;&nbsp; 16364 | 175264 |
| Meituan, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 1809350 | 25053450 |
| Metallurgical Corp. of China Ltd., Class A | &nbsp;&nbsp; 570508 | 249794 |
| Midea Group Co. Ltd., Class A | &nbsp;&nbsp; 91000 | 802878 |
| MINISO Group Holding Ltd. | &nbsp;&nbsp; 144960 | 605988 |
| MMG Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1307200 | 405732 |
| Montage Technology Co. Ltd., Class A | &nbsp;&nbsp; 32600 | 269232 |
| Muyuan Foods Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 130636 | 790794 |
| NARI Technology Co. Ltd., Class A | &nbsp;&nbsp; 195667 | 650351 |
| NAURA Technology Group Co. Ltd., Class A | &nbsp;&nbsp; 16300 | 774110 |
| NetEase Inc. | &nbsp;&nbsp; 684670 | 12627765 |
| New China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp; 49299 | 218165 |
| New China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp; 293400 | 572243 |
| New Hope Liuhe Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 114172 | 149749 |
| New Oriental Education & Technology Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 537980 | 3482152 |
| Ninestar Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp; 49400 | 185077 |
| Ningbo Deye Technology Co. Ltd., NVS | &nbsp;&nbsp; 25180 | 338415 |
| Ningbo Joyson Electronic Corp., Class A | &nbsp;&nbsp; 34200 | 72831 |
| Ningbo Orient Wires & Cables Co. Ltd. | &nbsp;&nbsp; 16300 | 115310 |
| Ningbo Tuopu Group Co. Ltd., Class A | &nbsp;&nbsp; 50980 | 259097 |
| Ningxia Baofeng Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 211900 | 440614 |
| NIO Inc., ADR<sup>(a)(c)</sup> | &nbsp;&nbsp; 492586 | 2187082 |
| Nongfu Spring Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 717200 | 2786076 |
| Offshore Oil Engineering Co. Ltd., Class A | &nbsp;&nbsp; 114900 | 87476 |
| Oppein Home Group Inc., Class A | &nbsp;&nbsp; 16300 | 102621 |
| Orient Overseas International Ltd. | &nbsp;&nbsp; 70000 | 985809 |
| Orient Securities Co. Ltd., Class A | &nbsp;&nbsp; 222913 | 262369 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Pangang Group Vanadium Titanium & Resources <br> Co. Ltd., Class A<sup>(a)</sup><br>| &nbsp;&nbsp; 293400 | $98357 |
| PDD Holdings Inc., ADR<sup>(a)(c)</sup> | &nbsp;&nbsp; 213204 | 27479864 |
| People.cn Co. Ltd. | &nbsp;&nbsp; 33400 | 91457 |
| People's Insurance Co. Group of China Ltd. (The), <br> Class A<br>| &nbsp;&nbsp; 198000 | 157051 |
| People's Insurance Co. Group of China Ltd. (The), <br> Class H<br>| &nbsp;&nbsp; 3749000 | 1261397 |
| PetroChina Co. Ltd., Class A | &nbsp;&nbsp; 472700 | 586051 |
| PetroChina Co. Ltd., Class H | &nbsp;&nbsp; 7498000 | 6511068 |
| Pharmaron Beijing Co. Ltd., Class A | &nbsp;&nbsp; 41650 | 127589 |
| PICC Property & Casualty Co. Ltd., Class H | &nbsp;&nbsp; 2609814 | 3422299 |
| Ping An Bank Co. Ltd., Class A | &nbsp;&nbsp; 472938 | 672959 |
| Ping An Insurance Group Co. of China Ltd., Class A | &nbsp;&nbsp; 244599 | 1441732 |
| Ping An Insurance Group Co. of China Ltd., Class H | &nbsp;&nbsp; 2363500 | 10263779 |
| Poly Developments and Holdings Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 244795 | 298767 |
| Pop Mart International Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 163600 | 867986 |
| Postal Savings Bank of China Co. Ltd., Class A | &nbsp;&nbsp; 652000 | 435860 |
| Postal Savings Bank of China Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 2934000 | 1568914 |
| Power Construction Corp. of China Ltd., Class A | &nbsp;&nbsp; 374900 | 285498 |
| Qifu Technology Inc. | &nbsp;&nbsp; 40098 | 814390 |
| Qinghai Salt Lake Industry Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 130400 | 280723 |
| Rockchip Electronics Co. Ltd. | &nbsp;&nbsp; 16700 | 143141 |
| Rongsheng Petrochemical Co. Ltd., Class A | &nbsp;&nbsp; 260868 | 327683 |
| SAIC Motor Corp. Ltd., Class A | &nbsp;&nbsp; 211998 | 430763 |
| Sanan Optoelectronics Co. Ltd., Class A | &nbsp;&nbsp; 106200 | 175194 |
| Sangfor Technologies Inc., Class A | &nbsp;&nbsp; 16300 | 111534 |
| Sany Heavy Industry Co. Ltd., Class A | &nbsp;&nbsp; 211999 | 473870 |
| Satellite Chemical Co. Ltd., Class A | &nbsp;&nbsp; 81591 | 197269 |
| SDIC Power Holdings Co. Ltd., Class A | &nbsp;&nbsp; 141600 | 333013 |
| Seres Group Co. Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 33400 | 368936 |
| SF Holding Co. Ltd., Class A | &nbsp;&nbsp; 114195 | 554247 |
| Shaanxi Coal Industry Co. Ltd., Class A | &nbsp;&nbsp; 195699 | 633225 |
| Shan Xi Hua Yang Group New Energy Co. Ltd.  | &nbsp;&nbsp; 124850 | 123912 |
| Shandong Gold Mining Co. Ltd., Class A | &nbsp;&nbsp; 81580 | 333902 |
| Shandong Gold Mining Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 285250 | 591031 |
| Shandong Hualu Hengsheng Chemical Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 65220 | 224041 |
| Shandong Linglong Tyre Co. Ltd., Class A | &nbsp;&nbsp; 32800 | 76846 |
| Shandong Nanshan Aluminum Co. Ltd., Class A | &nbsp;&nbsp; 619400 | 310785 |
| Shandong Sun Paper Industry JSC Ltd., Class A | &nbsp;&nbsp; 81500 | 154360 |
| Shandong Weigao Group Medical Polymer Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 914000 | 463791 |
| Shanghai Aiko Solar Energy Co. Ltd. | &nbsp;&nbsp; 48920 | 63915 |
| Shanghai Baosight Software Co. Ltd., Class A | &nbsp;&nbsp; 65347 | 290814 |
| Shanghai Baosight Software Co. Ltd., Class B | &nbsp;&nbsp; 195605 | 320082 |
| Shanghai Construction Group Co. Ltd., Class A | &nbsp;&nbsp; 309700 | 100301 |
| Shanghai Electric Group Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 407500 | 218372 |
| Shanghai Fosun Pharmaceutical Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 65200 | 212699 |
| Shanghai International Airport Co. Ltd., Class A | &nbsp;&nbsp; 32600 | 156007 |
| Shanghai International Port Group Co. Ltd., Class A | &nbsp;&nbsp; 293400 | 245182 |
| Shanghai M&G Stationery Inc., Class A | &nbsp;&nbsp; 16600 | 68855 |
| Shanghai Moons' Electric Co. Ltd. | &nbsp;&nbsp; 16700 | 92693 |
| Shanghai Pharmaceuticals Holding Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 81500 | 218822 |
| Shanghai Pharmaceuticals Holding Co. Ltd., <br> Class H<br>| &nbsp;&nbsp; 244500 | 366631 |
| Shanghai Pudong Development Bank Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 717295 | 834502 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Shanghai Putailai New Energy Technology Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 50360 | $90651 |
| Shanghai Rural Commercial Bank Co. Ltd. | &nbsp;&nbsp; 214500 | 197695 |
| Shanghai United Imaging Healthcare Co. Ltd., NVS | &nbsp;&nbsp; 20020 | 322123 |
| Shanghai Yuyuan Tourist Mart Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 97800 | 73933 |
| Shanxi Coking Coal Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 146700 | 168223 |
| Shanxi Lu'an Environmental Energy Development <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 65200 | 140471 |
| Shanxi Meijin Energy Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 114100 | 69601 |
| Shanxi Taigang Stainless Steel Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 180400 | 89657 |
| Shanxi Xinghuacun Fen Wine Factory Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 16380 | 417930 |
| Shengyi Technology Co. Ltd., Class A | &nbsp;&nbsp; 81500 | 220600 |
| Shennan Circuits Co. Ltd., Class A | &nbsp;&nbsp; 16320 | 250637 |
| Shenwan Hongyuan Group Co. Ltd., Class A | &nbsp;&nbsp; 668397 | 423957 |
| Shenzhen Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 86 | 80 |
| Shenzhen Inovance Technology Co. Ltd., Class A | &nbsp;&nbsp; 32900 | 212281 |
| Shenzhen Kangtai Biological Products Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 48200 | 106444 |
| Shenzhen Mindray Bio-Medical Electronics Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 16375 | 583319 |
| Shenzhen New Industries Biomedical Engineering <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 17700 | 152206 |
| Shenzhen Transsion Holdings Co. Ltd., Class A | &nbsp;&nbsp; 27505 | 308187 |
| Shenzhou International Group Holdings Ltd. | &nbsp;&nbsp; 293400 | 2483772 |
| Shijiazhuang Yiling Pharmaceutical Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 16500 | 36148 |
| Sichuan Chuantou Energy Co. Ltd., Class A | &nbsp;&nbsp; 130400 | 338080 |
| Sichuan Kelun Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp; 32600 | 135488 |
| Sichuan Road & Bridge Group Co. Ltd., Class A | &nbsp;&nbsp; 130400 | 113716 |
| Sieyuan Electric Co. Ltd. | &nbsp;&nbsp; 16500 | 151666 |
| Sino Biopharmaceutical Ltd. | &nbsp;&nbsp; 3749250 | 1344478 |
| Sinomine Resource Group Co. Ltd., Class A | &nbsp;&nbsp; 25460 | 94973 |
| Sinopharm Group Co. Ltd., Class H | &nbsp;&nbsp; 521600 | 1223435 |
| Sinotruk Hong Kong Ltd. | &nbsp;&nbsp; 250500 | 658886 |
| Smoore International Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 652000 | 761260 |
| Songcheng Performance Development Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 92620 | 104797 |
| SooChow Securities Co. Ltd., Class A | &nbsp;&nbsp; 155657 | 136990 |
| Southwest Securities Co. Ltd., Class A | &nbsp;&nbsp; 326000 | 177329 |
| Spring Airlines Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 16700 | 125259 |
| Sungrow Power Supply Co. Ltd., Class A | &nbsp;&nbsp; 46280 | 441912 |
| Sunny Optical Technology Group Co. Ltd. | &nbsp;&nbsp; 260800 | 1462593 |
| Sunresin New Materials Co. Ltd., NVS | &nbsp;&nbsp; 16700 | 91616 |
| Sunwoda Electronic Co. Ltd., Class A | &nbsp;&nbsp; 50599 | 120395 |
| SUPCON Technology Co. Ltd. | &nbsp;&nbsp; 30659 | 160437 |
| Suzhou Dongshan Precision Manufacturing Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 65200 | 225626 |
| Suzhou Maxwell Technologies Co. Ltd., Class A | &nbsp;&nbsp; 1740 | 25068 |
| Suzhou TFC Optical Communication Co. Ltd. | &nbsp;&nbsp; 23780 | 333283 |
| TAL Education Group, ADR<sup>(a)</sup> | &nbsp;&nbsp; 160718 | 1610394 |
| TBEA Co. Ltd., Class A | &nbsp;&nbsp; 148906 | 279273 |
| TCL Technology Group Corp., Class A | &nbsp;&nbsp; 451650 | 245224 |
| TCL Zhonghuan Renewable Energy Technology Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 105298 | 127477 |
| Tencent Holdings Ltd. | &nbsp;&nbsp; 2363500 | 109067145 |
| Tencent Music Entertainment Group, ADR | &nbsp;&nbsp; 265496 | 3764733 |
| Thunder Software Technology Co. Ltd., Class A | &nbsp;&nbsp; 16300 | 102588 |
| Tianqi Lithium Corp., Class A | &nbsp;&nbsp; 33000 | 134121 |
| Tianshui Huatian Technology Co. Ltd., Class A | &nbsp;&nbsp; 130600 | 156595 |
| Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp; 654000 | 797419 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Tongcheng Travel Holdings Ltd. | &nbsp;&nbsp; 456400 | $794616 |
| Tongkun Group Co. Ltd., Class A | &nbsp;&nbsp; 66896 | 130182 |
| Tongling Nonferrous Metals Group Co. Ltd., Class A | &nbsp;&nbsp; 390500 | 170710 |
| Tongwei Co. Ltd., Class A | &nbsp;&nbsp; 97800 | 245575 |
| Topsports International Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 652000 | 290414 |
| TravelSky Technology Ltd., Class H | &nbsp;&nbsp; 328000 | 369765 |
| Trina Solar Co. Ltd. | &nbsp;&nbsp; 32796 | 79227 |
| Trip.com Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 195630 | 8351774 |
| Tsingtao Brewery Co. Ltd., Class A | &nbsp;&nbsp; 16300 | 155003 |
| Tsingtao Brewery Co. Ltd., Class H | &nbsp;&nbsp; 234000 | 1494931 |
| Unigroup Guoxin Microelectronics Co. Ltd., Class A | &nbsp;&nbsp; 16399 | 122509 |
| Unisplendour Corp. Ltd., Class A | &nbsp;&nbsp; 81520 | 262930 |
| Vipshop Holdings Ltd., ADR | &nbsp;&nbsp; 135779 | 1852026 |
| Walvax Biotechnology Co. Ltd., Class A | &nbsp;&nbsp; 48900 | 78397 |
| Wanhua Chemical Group Co. Ltd., Class A | &nbsp;&nbsp; 65299 | 701153 |
| Want Want China Holdings Ltd. | &nbsp;&nbsp; 1795000 | 1077526 |
| Weichai Power Co. Ltd., Class A | &nbsp;&nbsp; 163000 | 311937 |
| Weichai Power Co. Ltd., Class H | &nbsp;&nbsp; 652600 | 1044451 |
| Wens Foodstuffs Group Co. Ltd., Class A | &nbsp;&nbsp; 163098 | 450172 |
| Western Securities Co. Ltd., Class A | &nbsp;&nbsp; 195699 | 177105 |
| Will Semiconductor Co. Ltd. Shanghai, Class A | &nbsp;&nbsp; 32610 | 465391 |
| Wingtech Technology Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 32600 | 135204 |
| Wuchan Zhongda Group Co. Ltd., Class A | &nbsp;&nbsp; 163099 | 98408 |
| Wuhan Guide Infrared Co. Ltd., Class A | &nbsp;&nbsp; 194460 | 170651 |
| Wuliangye Yibin Co. Ltd., Class A | &nbsp;&nbsp; 81599 | 1434177 |
| WUS Printed Circuit Kunshan Co. Ltd., Class A | &nbsp;&nbsp; 65250 | 303845 |
| WuXi AppTec Co. Ltd., Class A | &nbsp;&nbsp; 48964 | 288012 |
| WuXi AppTec Co. Ltd., Class H<sup>(b)</sup> | &nbsp;&nbsp; 130474 | 533731 |
| Wuxi Biologics Cayman Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1385500 | 2026509 |
| XCMG Construction Machinery Co. Ltd., Class A | &nbsp;&nbsp; 381398 | 346230 |
| Xiamen C & D Inc., Class A | &nbsp;&nbsp; 81500 | 89497 |
| Xiaomi Corp., Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 5509400 | 11833253 |
| Xinjiang Daqo New Energy Co. Ltd. | &nbsp;&nbsp; 38148 | 107194 |
| Xinyi Solar Holdings Ltd. | &nbsp;&nbsp; 1956000 | 928080 |
| XPeng Inc.<sup>(a)</sup> | &nbsp;&nbsp; 423802 | 1713022 |
| Yadea Group Holdings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 326000 | 439347 |
| Yankuang Energy Group Co. Ltd., Class A | &nbsp;&nbsp; 127620 | 264981 |
| Yankuang Energy Group Co. Ltd., Class H | &nbsp;&nbsp; 1146700 | 1496799 |
| Yantai Jereh Oilfield Services Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 32701 | 142369 |
| Yealink Network Technology Corp. Ltd., Class A | &nbsp;&nbsp; 16627 | 77611 |
| Yifeng Pharmacy Chain Co. Ltd., Class A | &nbsp;&nbsp; 30184 | 87511 |
| Yihai Kerry Arawana Holdings Co. Ltd., Class A | &nbsp;&nbsp; 32600 | 123589 |
| Yintai Gold Co. Ltd., Class A | &nbsp;&nbsp; 49121 | 121527 |
| Yonyou Network Technology Co. Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 81790 | 108528 |
| YTO Express Group Co. Ltd., Class A | &nbsp;&nbsp; 81500 | 161836 |
| Yum China Holdings Inc. | &nbsp;&nbsp; 140832 | 4258760 |
| Yunda Holding Co. Ltd., Class A | &nbsp;&nbsp; 81520 | 83355 |
| Yunnan Aluminium Co. Ltd., Class A | &nbsp;&nbsp; 66800 | 111817 |
| Yunnan Baiyao Group Co. Ltd., Class A | &nbsp;&nbsp; 49615 | 346997 |
| Yunnan Energy New Material Co. Ltd., Class A | &nbsp;&nbsp; 24200 | 103321 |
| Yutong Bus Co. Ltd., Class A | &nbsp;&nbsp; 49500 | 153548 |
| Zangge Mining Co. Ltd. | &nbsp;&nbsp; 48900 | 155870 |
| Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 16302 | 479953 |
| Zhaojin Mining Industry Co. Ltd., Class H<sup>(c)</sup> | &nbsp;&nbsp; 570500 | 1022804 |
| Zhejiang Century Huatong Group Co. Ltd., <br> Class A<sup>(a)</sup><br>| &nbsp;&nbsp; 211972 | 96292 |
| Zhejiang China Commodities City Group Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 116900 | 125011 |
| Zhejiang Chint Electrics Co. Ltd., Class A | &nbsp;&nbsp; 65200 | 173993 |
| Zhejiang Dahua Technology Co. Ltd., Class A | &nbsp;&nbsp; 97800 | 203425 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **China (continued)** | **China (continued)** | **China (continued)** |
| Zhejiang Dingli Machinery Co. Ltd., Class A | &nbsp;&nbsp; 16347 | $118854 |
| Zhejiang Expressway Co. Ltd., Class H | &nbsp;&nbsp; 653400 | 428772 |
| Zhejiang Huahai Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp; 48925 | 116098 |
| Zhejiang Huayou Cobalt Co. Ltd., Class A | &nbsp;&nbsp; 48900 | 159083 |
| Zhejiang Jingsheng Mechanical & Electrical Co. <br> Ltd., Class A<br>| &nbsp;&nbsp; 32600 | 134954 |
| Zhejiang Juhua Co. Ltd., Class A | &nbsp;&nbsp; 66000 | 180839 |
| Zhejiang Leapmotor Technology Co. Ltd.<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 179337 | 572773 |
| Zhejiang NHU Co. Ltd., Class A | &nbsp;&nbsp; 98012 | 283505 |
| Zhejiang Sanhua Intelligent Controls Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 33400 | 85361 |
| Zhejiang Supor Co. Ltd., Class A | &nbsp;&nbsp; 17999 | 125146 |
| Zhejiang Weixing New Building Materials Co. Ltd., <br> Class A<br>| &nbsp;&nbsp; 50596 | 98181 |
| Zhejiang Zheneng Electric Power Co. Ltd., Class A | &nbsp;&nbsp; 247500 | 227140 |
| Zheshang Securities Co. Ltd., Class A | &nbsp;&nbsp; 114100 | 183602 |
| Zhongji Innolight Co. Ltd., Class A | &nbsp;&nbsp; 23358 | 425446 |
| Zhongjin Gold Corp. Ltd., Class A | &nbsp;&nbsp; 99000 | 221443 |
| Zhongsheng Group Holdings Ltd. | &nbsp;&nbsp; 328000 | 511764 |
| Zhuzhou CRRC Times Electric Co. Ltd. | &nbsp;&nbsp; 228200 | 842178 |
| Zijin Mining Group Co. Ltd., Class A | &nbsp;&nbsp; 456400 | 1053083 |
| Zijin Mining Group Co. Ltd., Class H | &nbsp;&nbsp; 1956000 | 3967482 |
| Zoomlion Heavy Industry Science and Technology <br> Co. Ltd., Class A<br>| &nbsp;&nbsp; 261337 | 243592 |
| ZTE Corp., Class A | &nbsp;&nbsp; 97800 | 372556 |
| ZTE Corp., Class H | &nbsp;&nbsp; 260800 | 584212 |
| ZTO Express Cayman Inc., ADR | &nbsp;&nbsp; 152242 | 2884986 |
|  |  | 657808325 |
| **Hong Kong — 4.4%** | **Hong Kong — 4.4%** | **Hong Kong — 4.4%** |
| AIA Group Ltd. | &nbsp;&nbsp; 4009800 | 26820973 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 1304000 | 3793755 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 733632 | 2803259 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 896632 | 4684102 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 244500 | 1630753 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 570500 | 4896383 |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 19071 | 1206813 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 815000 | 3426197 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 277100 | 3393318 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 489166 | 1373980 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 1467640 | 1777550 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 3912763 | 3188403 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 423853 | 12502400 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 407500 | 1316067 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 48900 | 1722695 |
| Link REIT | &nbsp;&nbsp; 929100 | 3919892 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 571500 | 1848857 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 490500 | 3126187 |
| Sands China Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 847600 | 1588940 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 1305200 | 1350044 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 489000 | 1091339 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 489000 | 4234018 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 163000 | 1406165 |
| Swire Properties Ltd. | &nbsp;&nbsp; 423800 | 669320 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 489000 | 6262472 |
| WH Group Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 3097000 | 2013185 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 326000 | 893842 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 652000 | 1602889 |
|  |  | 104543798 |
| **India — 22.9%** | **India — 22.9%** | **India — 22.9%** |
| ABB India Ltd. | &nbsp;&nbsp; 19071 | 1802318 |
| Adani Enterprises Ltd. | &nbsp;&nbsp; 60799 | 2307367 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Adani Green Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 114263 | $2527881 |
| Adani Ports & Special Economic Zone Ltd. | &nbsp;&nbsp; 187450 | 3525087 |
| Adani Power Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 275969 | 2428204 |
| Ambuja Cements Ltd. | &nbsp;&nbsp; 216464 | 1760795 |
| APL Apollo Tubes Ltd. | &nbsp;&nbsp; 60799 | 1080900 |
| Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp; 35208 | 2787605 |
| Ashok Leyland Ltd. | &nbsp;&nbsp; 499432 | 1537061 |
| Asian Paints Ltd. | &nbsp;&nbsp; 136594 | 5041387 |
| Astral Ltd. | &nbsp;&nbsp; 44818 | 1173290 |
| AU Small Finance Bank Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 124858 | 965121 |
| Aurobindo Pharma Ltd. | &nbsp;&nbsp; 96007 | 1647499 |
| Avenue Supermarts Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 58517 | 3452621 |
| Axis Bank Ltd. | &nbsp;&nbsp; 826573 | 11546647 |
| Bajaj Auto Ltd. | &nbsp;&nbsp; 23961 | 2768340 |
| Bajaj Finance Ltd. | &nbsp;&nbsp; 98941 | 8062388 |
| Bajaj Finserv Ltd. | &nbsp;&nbsp; 139781 | 2763588 |
| Bajaj Holdings & Investment Ltd. | &nbsp;&nbsp; 9617 | 1106590 |
| Balkrishna Industries Ltd. | &nbsp;&nbsp; 28525 | 1134267 |
| Bandhan Bank Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 266296 | 695375 |
| Bank of Baroda | &nbsp;&nbsp; 390874 | 1186543 |
| Bharat Electronics Ltd. | &nbsp;&nbsp; 1308401 | 4950843 |
| Bharat Forge Ltd. | &nbsp;&nbsp; 95029 | 1972197 |
| Bharat Heavy Electricals Ltd. | &nbsp;&nbsp; 377508 | 1428148 |
| Bharat Petroleum Corp. Ltd. | &nbsp;&nbsp; 533214 | 2236553 |
| Bharti Airtel Ltd. | &nbsp;&nbsp; 807665 | 14428060 |
| Bosch Ltd. | &nbsp;&nbsp; 2475 | 1035120 |
| Britannia Industries Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 38631 | 2671226 |
| Canara Bank | &nbsp;&nbsp; 571075 | 784692 |
| CG Power and Industrial Solutions Ltd. | &nbsp;&nbsp; 219724 | 1936419 |
| Cholamandalam Investment and Finance Co. Ltd. | &nbsp;&nbsp; 148865 | 2522302 |
| Cipla Ltd. | &nbsp;&nbsp; 184190 | 3403460 |
| Coal India Ltd. | &nbsp;&nbsp; 555341 | 3473599 |
| Colgate-Palmolive India Ltd. | &nbsp;&nbsp; 46618 | 1902495 |
| Container Corp. of India Ltd. | &nbsp;&nbsp; 93073 | 1160105 |
| Cummins India Ltd. | &nbsp;&nbsp; 51035 | 2353092 |
| Dabur India Ltd. | &nbsp;&nbsp; 189243 | 1438781 |
| Divi's Laboratories Ltd. | &nbsp;&nbsp; 42706 | 2513965 |
| DLF Ltd. | &nbsp;&nbsp; 274655 | 2924088 |
| Dr. Reddy's Laboratories Ltd. | &nbsp;&nbsp; 41076 | 3316861 |
| Eicher Motors Ltd. | &nbsp;&nbsp; 49376 | 2932151 |
| GAIL India Ltd. | &nbsp;&nbsp; 828855 | 2390624 |
| GMR Airports Infrastructure Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 936288 | 1141033 |
| Godrej Consumer Products Ltd. | &nbsp;&nbsp; 144418 | 2490434 |
| Godrej Properties Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 48085 | 1853670 |
| Grasim Industries Ltd. | &nbsp;&nbsp; 93888 | 3118388 |
| Havells India Ltd. | &nbsp;&nbsp; 89813 | 1986341 |
| HCL Technologies Ltd. | &nbsp;&nbsp; 334965 | 6591082 |
| HDFC Asset Management Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 34393 | 1692480 |
| HDFC Bank Ltd. | &nbsp;&nbsp; 1002450 | 19371602 |
| HDFC Life Insurance Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 338714 | 2899993 |
| Hero MotoCorp Ltd. | &nbsp;&nbsp; 43358 | 2848519 |
| Hindalco Industries Ltd. | &nbsp;&nbsp; 483295 | 3876759 |
| Hindustan Aeronautics Ltd., NVS | &nbsp;&nbsp; 72535 | 4274644 |
| Hindustan Petroleum Corp. Ltd. | &nbsp;&nbsp; 302171 | 1420548 |
| Hindustan Unilever Ltd. | &nbsp;&nbsp; 290140 | 9386746 |
| ICICI Bank Ltd. | &nbsp;&nbsp; 1852658 | 27005202 |
| ICICI Lombard General Insurance Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 83293 | 2001495 |
| ICICI Prudential Life Insurance Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 132519 | 1167541 |
| IDFC First Bank Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1270059 | 1155703 |
| Indian Hotels Co. Ltd., Class A | &nbsp;&nbsp; 304321 | 2338609 |
| Indian Oil Corp. Ltd. | &nbsp;&nbsp; 994789 | 2167806 |
| Indian Railway Catering & Tourism Corp. Ltd. | &nbsp;&nbsp; 96170 | 1137299 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Indus Towers Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 433510 | $2247236 |
| IndusInd Bank Ltd. | &nbsp;&nbsp; 104972 | 1794213 |
| Info Edge India Ltd. | &nbsp;&nbsp; 26080 | 2193159 |
| Infosys Ltd. | &nbsp;&nbsp; 1180609 | 26179775 |
| InterGlobe Aviation Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 62091 | 3320381 |
| ITC Ltd. | &nbsp;&nbsp; 1052328 | 6238906 |
| Jindal Stainless Ltd. | &nbsp;&nbsp; 116921 | 1036684 |
| Jindal Steel & Power Ltd. | &nbsp;&nbsp; 139365 | 1650353 |
| Jio Financial Services Ltd., NVS<sup>(a)</sup> | &nbsp;&nbsp; 1030323 | 4057196 |
| JSW Energy Ltd. | &nbsp;&nbsp; 121871 | 1062871 |
| JSW Steel Ltd. | &nbsp;&nbsp; 217605 | 2418573 |
| Jubilant Foodworks Ltd. | &nbsp;&nbsp; 135779 | 973215 |
| Kotak Mahindra Bank Ltd. | &nbsp;&nbsp; 386310 | 8368998 |
| Larsen & Toubro Ltd. | &nbsp;&nbsp; 238306 | 10882807 |
| LTIMindtree Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 31133 | 2109305 |
| Lupin Ltd. | &nbsp;&nbsp; 81174 | 1857535 |
| Macrotech Developers Ltd. | &nbsp;&nbsp; 103831 | 1625947 |
| Mahindra & Mahindra Ltd. | &nbsp;&nbsp; 331379 | 11535455 |
| Mankind Pharma Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 36614 | 888595 |
| Marico Ltd. | &nbsp;&nbsp; 181093 | 1460233 |
| Maruti Suzuki India Ltd. | &nbsp;&nbsp; 50367 | 7902760 |
| Max Healthcare Institute Ltd. | &nbsp;&nbsp; 281664 | 3110425 |
| Mphasis Ltd. | &nbsp;&nbsp; 36349 | 1259971 |
| MRF Ltd. | &nbsp;&nbsp; 815 | 1385898 |
| Muthoot Finance Ltd. | &nbsp;&nbsp; 44662 | 981937 |
| Nestle India Ltd., NVS | &nbsp;&nbsp; 117571 | 3454944 |
| NHPC Ltd., NVS | &nbsp;&nbsp; 1089655 | 1371733 |
| NMDC Ltd. | &nbsp;&nbsp; 376950 | 1091420 |
| NTPC Ltd. | &nbsp;&nbsp; 1558932 | 7763057 |
| Oil & Natural Gas Corp. Ltd. | &nbsp;&nbsp; 1114920 | 4454080 |
| Page Industries Ltd. | &nbsp;&nbsp; 2282 | 1157271 |
| PB Fintech Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 105544 | 1836115 |
| Persistent Systems Ltd., NVS | &nbsp;&nbsp; 35534 | 2056095 |
| Petronet LNG Ltd. | &nbsp;&nbsp; 282479 | 1245703 |
| Phoenix Mills Ltd. (The) | &nbsp;&nbsp; 32819 | 1412366 |
| PI Industries Ltd. | &nbsp;&nbsp; 28362 | 1503064 |
| Pidilite Industries Ltd. | &nbsp;&nbsp; 54279 | 2066941 |
| Polycab India Ltd. | &nbsp;&nbsp; 18419 | 1513261 |
| Power Finance Corp. Ltd. | &nbsp;&nbsp; 530565 | 3541590 |
| Power Grid Corp. of India Ltd. | &nbsp;&nbsp; 1661296 | 6919610 |
| Punjab National Bank | &nbsp;&nbsp; 809368 | 1202477 |
| REC Ltd. | &nbsp;&nbsp; 465039 | 3592282 |
| Reliance Industries Ltd. | &nbsp;&nbsp; 1085743 | 39143662 |
| Samvardhana Motherson International Ltd. | &nbsp;&nbsp; 965449 | 2272596 |
| SBI Cards & Payment Services Ltd. | &nbsp;&nbsp; 99267 | 863035 |
| SBI Life Insurance Co. Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 155665 | 3266860 |
| Shree Cement Ltd. | &nbsp;&nbsp; 3260 | 1081690 |
| Shriram Finance Ltd. | &nbsp;&nbsp; 100082 | 3511251 |
| Siemens Ltd. | &nbsp;&nbsp; 31459 | 2686204 |
| Solar Industries India Ltd. | &nbsp;&nbsp; 9570 | 1237399 |
| Sona Blw Precision Forgings Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 146537 | 1190429 |
| SRF Ltd. | &nbsp;&nbsp; 52938 | 1675694 |
| State Bank of India | &nbsp;&nbsp; 637167 | 6661405 |
| Sun Pharmaceutical Industries Ltd. | &nbsp;&nbsp; 343767 | 7070581 |
| Sundaram Finance Ltd. | &nbsp;&nbsp; 22005 | 1138608 |
| Supreme Industries Ltd. | &nbsp;&nbsp; 22895 | 1467227 |
| Suzlon Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3396431 | 2824423 |
| Tata Communications Ltd. | &nbsp;&nbsp; 41565 | 990026 |
| Tata Consultancy Services Ltd. | &nbsp;&nbsp; 321273 | 16870271 |
| Tata Consumer Products Ltd. | &nbsp;&nbsp; 203051 | 2889170 |
| Tata Elxsi Ltd. | &nbsp;&nbsp; 12551 | 1049143 |
| Tata Motors Ltd. | &nbsp;&nbsp; 591038 | 8185600 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **India (continued)** | **India (continued)** | **India (continued)** |
| Tata Motors Ltd. | &nbsp;&nbsp; 162674 | $1546049 |
| Tata Power Co. Ltd. (The) | &nbsp;&nbsp; 512922 | 2785440 |
| Tata Steel Ltd. | &nbsp;&nbsp; 2571651 | 5091582 |
| Tech Mahindra Ltd. | &nbsp;&nbsp; 188102 | 3503824 |
| Thermax Ltd. | &nbsp;&nbsp; 13695 | 831330 |
| Titan Co. Ltd. | &nbsp;&nbsp; 126488 | 5238039 |
| Torrent Pharmaceuticals Ltd. | &nbsp;&nbsp; 37653 | 1429041 |
| Torrent Power Ltd. | &nbsp;&nbsp; 58543 | 1307189 |
| Trent Ltd. | &nbsp;&nbsp; 65200 | 4556730 |
| Tube Investments of India Ltd. | &nbsp;&nbsp; 39099 | 1935746 |
| TVS Motor Co. Ltd. | &nbsp;&nbsp; 86879 | 2631220 |
| UltraTech Cement Ltd. | &nbsp;&nbsp; 41239 | 5863473 |
| Union Bank of India Ltd. | &nbsp;&nbsp; 544894 | 880781 |
| United Spirits Ltd. | &nbsp;&nbsp; 104809 | 1772884 |
| UPL Ltd. | &nbsp;&nbsp; 152405 | 1043400 |
| Varun Beverages Ltd. | &nbsp;&nbsp; 164304 | 3099872 |
| Vedanta Ltd. | &nbsp;&nbsp; 473653 | 2555109 |
| Wipro Ltd. | &nbsp;&nbsp; 458519 | 2861346 |
| Yes Bank Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 5059683 | 1606794 |
| Zomato Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2354372 | 6474540 |
|  |  | 538815649 |
| **Indonesia — 1.9%** | **Indonesia — 1.9%** | **Indonesia — 1.9%** |
| Adaro Energy Indonesia Tbk PT | &nbsp;&nbsp; 5313800 | 1052302 |
| Amman Mineral Internasional PT<sup>(a)</sup> | &nbsp;&nbsp; 2330900 | 1697047 |
| Aneka Tambang Tbk | &nbsp;&nbsp; 3325200 | 269323 |
| Astra International Tbk PT | &nbsp;&nbsp; 7253500 | 2108536 |
| Bank Central Asia Tbk PT | &nbsp;&nbsp; 19690400 | 12442734 |
| Bank Mandiri Persero Tbk PT | &nbsp;&nbsp; 13219304 | 5213550 |
| Bank Negara Indonesia Persero Tbk PT | &nbsp;&nbsp; 5377130 | 1646870 |
| Bank Rakyat Indonesia Persero Tbk PT | &nbsp;&nbsp; 24189267 | 6960221 |
| Barito Pacific Tbk PT | &nbsp;&nbsp; 10455663 | 702905 |
| Chandra Asri Pacific Tbk PT | &nbsp;&nbsp; 2720100 | 1614328 |
| Charoen Pokphand Indonesia Tbk PT | &nbsp;&nbsp; 2771000 | 890435 |
| GoTo Gojek Tokopedia Tbk PT<sup>(a)</sup> | &nbsp;&nbsp; 321145110 | 1050923 |
| Indah Kiat Pulp & Paper Tbk PT | &nbsp;&nbsp; 978100 | 503064 |
| Indofood CBP Sukses Makmur Tbk PT | &nbsp;&nbsp; 782400 | 525690 |
| Indofood Sukses Makmur Tbk PT | &nbsp;&nbsp; 1548500 | 583306 |
| Kalbe Farma Tbk PT | &nbsp;&nbsp; 7549900 | 738274 |
| Merdeka Copper Gold Tbk PT<sup>(a)</sup> | &nbsp;&nbsp; 3439377 | 521527 |
| Sumber Alfaria Trijaya Tbk PT | &nbsp;&nbsp; 6357000 | 1110325 |
| Telkom Indonesia Persero Tbk PT | &nbsp;&nbsp; 17538800 | 3114969 |
| Unilever Indonesia Tbk PT | &nbsp;&nbsp; 2852500 | 428335 |
| United Tractors Tbk PT | &nbsp;&nbsp; 554243 | 879426 |
|  |  | 44054090 |
| **Malaysia — 1.6%** | **Malaysia — 1.6%** | **Malaysia — 1.6%** |
| AMMB Holdings Bhd | &nbsp;&nbsp; 700900 | 688696 |
| Axiata Group Bhd | &nbsp;&nbsp; 1141000 | 596678 |
| CELCOMDIGI Bhd | &nbsp;&nbsp; 1236500 | 1023399 |
| CIMB Group Holdings Bhd | &nbsp;&nbsp; 2412400 | 3900676 |
| Gamuda Bhd | &nbsp;&nbsp; 684600 | 1170740 |
| Genting Bhd | &nbsp;&nbsp; 782400 | 806231 |
| Genting Malaysia Bhd | &nbsp;&nbsp; 782400 | 443318 |
| Hong Leong Bank Bhd | &nbsp;&nbsp; 211900 | 889703 |
| IHH Healthcare Bhd | &nbsp;&nbsp; 733500 | 1005779 |
| Inari Amertron Bhd | &nbsp;&nbsp; 945400 | 779460 |
| IOI Corp. Bhd | &nbsp;&nbsp; 880200 | 732332 |
| Kuala Lumpur Kepong Bhd | &nbsp;&nbsp; 190300 | 873766 |
| Malayan Banking Bhd | &nbsp;&nbsp; 1890800 | 4205893 |
| Malaysia Airports Holdings Bhd | &nbsp;&nbsp; 293400 | 654222 |
| Maxis Bhd | &nbsp;&nbsp; 863900 | 663743 |
| MISC Bhd | &nbsp;&nbsp; 342300 | 654874 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Malaysia (continued)** | **Malaysia (continued)** | **Malaysia (continued)** |
| MR DIY Group M Bhd<sup>(b)</sup> | &nbsp;&nbsp; 1073700 | $490944 |
| Nestle Malaysia Bhd | &nbsp;&nbsp; 32600 | 771116 |
| Petronas Chemicals Group Bhd<sup>(c)</sup> | &nbsp;&nbsp; 988700 | 1248532 |
| Petronas Dagangan Bhd | &nbsp;&nbsp; 114100 | 440556 |
| Petronas Gas Bhd | &nbsp;&nbsp; 293600 | 1163782 |
| PPB Group Bhd | &nbsp;&nbsp; 244520 | 789684 |
| Press Metal Aluminium Holdings Bhd | &nbsp;&nbsp; 1385500 | 1617675 |
| Public Bank Bhd | &nbsp;&nbsp; 5623550 | 5155451 |
| QL Resources Bhd | &nbsp;&nbsp; 472700 | 687881 |
| RHB Bank Bhd | &nbsp;&nbsp; 472745 | 587630 |
| Sime Darby Bhd | &nbsp;&nbsp; 635700 | 360055 |
| Sime Darby Plantation Bhd | &nbsp;&nbsp; 766100 | 745981 |
| Telekom Malaysia Bhd | &nbsp;&nbsp; 456400 | 693116 |
| Tenaga Nasional Bhd | &nbsp;&nbsp; 896500 | 2747354 |
| YTL Corp. Bhd | &nbsp;&nbsp; 1223600 | 910063 |
| YTL Power International Bhd | &nbsp;&nbsp; 905800 | 921006 |
|  |  | 38420336 |
| **Philippines — 0.6%** | **Philippines — 0.6%** | **Philippines — 0.6%** |
| Ayala Corp. | &nbsp;&nbsp; 98838 | 994196 |
| Ayala Land Inc. | &nbsp;&nbsp; 2330900 | 1180114 |
| Bank of the Philippine Islands | &nbsp;&nbsp; 627552 | 1304007 |
| BDO Unibank Inc. | &nbsp;&nbsp; 845974 | 1989979 |
| International Container Terminal Services Inc. | &nbsp;&nbsp; 346120 | 2110795 |
| JG Summit Holdings Inc. | &nbsp;&nbsp; 1124825 | 535672 |
| Jollibee Foods Corp. | &nbsp;&nbsp; 180930 | 714017 |
| Manila Electric Co. | &nbsp;&nbsp; 91280 | 609831 |
| Metropolitan Bank & Trust Co. | &nbsp;&nbsp; 773540 | 910234 |
| PLDT Inc. | &nbsp;&nbsp; 26085 | 677315 |
| SM Investments Corp. | &nbsp;&nbsp; 83130 | 1295619 |
| SM Prime Holdings Inc. | &nbsp;&nbsp; 3814125 | 1884539 |
| Universal Robina Corp. | &nbsp;&nbsp; 348820 | 711079 |
|  |  | 14917397 |
| **Singapore — 3.5%** | **Singapore — 3.5%** | **Singapore — 3.5%** |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 1271414 | 2595666 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 1939747 | 3029955 |
| CapitaLand Investment Ltd./Singapore<sup>(c)</sup> | &nbsp;&nbsp; 912800 | 1850732 |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 699450 | 19167316 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 2233100 | 1419030 |
| Grab Holdings Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 759906 | 2507690 |
| Keppel Ltd. | &nbsp;&nbsp; 537900 | 2677056 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 1222575 | 13608048 |
| Sea Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 131215 | 8620826 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 342300 | 1223917 |
| Singapore Airlines Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 522000 | 2727925 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 309700 | 2283388 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 587200 | 1944088 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 2934000 | 6797101 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 440100 | 10671844 |
| Wilmar International Ltd. | &nbsp;&nbsp; 635700 | 1515848 |
|  |  | 82640430 |
| **South Korea — 13.2%** | **South Korea — 13.2%** | **South Korea — 13.2%** |
| Alteogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 14344 | 3307459 |
| Amorepacific Corp. | &nbsp;&nbsp; 10432 | 1386552 |
| Celltrion Inc. | &nbsp;&nbsp; 54605 | 8174179 |
| Celltrion Pharm Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7432 | 546101 |
| CJ CheilJedang Corp. | &nbsp;&nbsp; 2936 | 829006 |
| CosmoAM&T Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 8639 | 822455 |
| Coway Co. Ltd. | &nbsp;&nbsp; 20864 | 954525 |
| DB Insurance Co. Ltd. | &nbsp;&nbsp; 16789 | 1356503 |
| Doosan Bobcat Inc. | &nbsp;&nbsp; 18908 | 572235 |
| Doosan Enerbility Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 164467 | 2265157 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| Ecopro BM Co. Ltd.<sup>(a)(c)</sup> | &nbsp;&nbsp; 17604 | $2337275 |
| Ecopro Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 35371 | 2404575 |
| Ecopro Materials Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 5040 | 301349 |
| Enchem Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4125 | 527762 |
| GS Holdings Corp. | &nbsp;&nbsp; 16300 | 583528 |
| Hana Financial Group Inc. | &nbsp;&nbsp; 105298 | 4988811 |
| Hanjin Kal Corp. | &nbsp;&nbsp; 9898 | 500953 |
| Hankook Tire & Technology Co. Ltd. | &nbsp;&nbsp; 27710 | 904890 |
| Hanmi Pharm Co. Ltd. | &nbsp;&nbsp; 2501 | 528527 |
| Hanmi Semiconductor Co. Ltd. | &nbsp;&nbsp; 15648 | 1507305 |
| Hanwha Aerospace Co. Ltd. | &nbsp;&nbsp; 12714 | 2667721 |
| Hanwha Ocean Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 32600 | 729849 |
| Hanwha Solutions Corp. | &nbsp;&nbsp; 38468 | 699051 |
| HD Hyundai Co. Ltd. | &nbsp;&nbsp; 15926 | 975968 |
| HD Hyundai Electric Co. Ltd. | &nbsp;&nbsp; 7824 | 1770505 |
| HD Hyundai Heavy Industries Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 8150 | 1259472 |
| HD Korea Shipbuilding & Offshore Engineering <br> Co. Ltd.<sup>(a)</sup><br>| &nbsp;&nbsp; 15159 | 2299553 |
| HLB Inc.<sup>(a)</sup> | &nbsp;&nbsp; 41728 | 2478443 |
| HMM Co. Ltd. | &nbsp;&nbsp; 82315 | 1094839 |
| HYBE Co. Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 7662 | 985597 |
| Hyundai Engineering & Construction Co. Ltd. | &nbsp;&nbsp; 26361 | 644077 |
| Hyundai Glovis Co. Ltd. | &nbsp;&nbsp; 12844 | 1143216 |
| Hyundai Mobis Co. Ltd. | &nbsp;&nbsp; 21516 | 3481078 |
| Hyundai Motor Co. | &nbsp;&nbsp; 48411 | 8822901 |
| Hyundai Steel Co. | &nbsp;&nbsp; 31797 | 643391 |
| Industrial Bank of Korea | &nbsp;&nbsp; 85738 | 874856 |
| Kakao Corp. | &nbsp;&nbsp; 110351 | 3171162 |
| KakaoBank Corp. | &nbsp;&nbsp; 61451 | 965196 |
| KB Financial Group Inc. | &nbsp;&nbsp; 136757 | 8840802 |
| Kia Corp. | &nbsp;&nbsp; 92747 | 7610506 |
| Korea Aerospace Industries Ltd. | &nbsp;&nbsp; 25754 | 1070376 |
| Korea Electric Power Corp.<sup>(a)</sup> | &nbsp;&nbsp; 89650 | 1293790 |
| Korea Investment Holdings Co. Ltd. | &nbsp;&nbsp; 14181 | 761893 |
| Korea Zinc Co. Ltd. | &nbsp;&nbsp; 2934 | 1040240 |
| Korean Air Lines Co. Ltd. | &nbsp;&nbsp; 65852 | 1023438 |
| Krafton Inc.<sup>(a)</sup> | &nbsp;&nbsp; 10432 | 2249331 |
| KT Corp. | &nbsp;&nbsp; 8802 | 256327 |
| KT&G Corp. | &nbsp;&nbsp; 36349 | 2477979 |
| Kum Yang Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 13203 | 655025 |
| Kumho Petrochemical Co. Ltd. | &nbsp;&nbsp; 5053 | 512536 |
| L&F Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 9291 | 777081 |
| LG Chem Ltd. | &nbsp;&nbsp; 17604 | 3958861 |
| LG Corp. | &nbsp;&nbsp; 32763 | 2089367 |
| LG Display Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 109699 | 900503 |
| LG Electronics Inc. | &nbsp;&nbsp; 38142 | 2904539 |
| LG Energy Solution Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 16789 | 3996618 |
| LG H&H Co. Ltd. | &nbsp;&nbsp; 3423 | 880577 |
| LG Innotek Co. Ltd. | &nbsp;&nbsp; 5055 | 949405 |
| LG Uplus Corp. | &nbsp;&nbsp; 70253 | 513835 |
| Lotte Chemical Corp. | &nbsp;&nbsp; 7173 | 531568 |
| Meritz Financial Group Inc. | &nbsp;&nbsp; 35534 | 2190167 |
| Mirae Asset Securities Co. Ltd. | &nbsp;&nbsp; 89324 | 507197 |
| NAVER Corp. | &nbsp;&nbsp; 46455 | 5924983 |
| NCSoft Corp. | &nbsp;&nbsp; 4892 | 627731 |
| Netmarble Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 9780 | 454637 |
| NH Investment & Securities Co. Ltd. | &nbsp;&nbsp; 49063 | 498385 |
| Orion Corp./Republic of Korea | &nbsp;&nbsp; 9128 | 584937 |
| Posco DX Co. Ltd. | &nbsp;&nbsp; 19397 | 411232 |
| POSCO Future M Co. Ltd. | &nbsp;&nbsp; 11084 | 1729575 |
| POSCO Holdings Inc. | &nbsp;&nbsp; 25591 | 6617841 |
| Posco International Corp. | &nbsp;&nbsp; 18929 | 736606 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| Samsung Biologics Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 6357 | $4361474 |
| Samsung C&T Corp. | &nbsp;&nbsp; 29666 | 3379015 |
| Samsung E&A Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 57702 | 1205268 |
| Samsung Electro-Mechanics Co. Ltd. | &nbsp;&nbsp; 20049 | 2343777 |
| Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 1700090 | 104831322 |
| Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp; 10758 | 2925414 |
| Samsung Heavy Industries Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 238958 | 2048639 |
| Samsung Life Insurance Co. Ltd. | &nbsp;&nbsp; 28036 | 1978656 |
| Samsung SDI Co. Ltd. | &nbsp;&nbsp; 19723 | 4637454 |
| Samsung SDS Co. Ltd. | &nbsp;&nbsp; 15159 | 1640369 |
| Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp; 154361 | 6788938 |
| SK Biopharmaceuticals Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 11574 | 727006 |
| SK Bioscience Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 9943 | 403566 |
| SK Hynix Inc. | &nbsp;&nbsp; 194133 | 27843232 |
| SK IE Technology Co. Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 10146 | 278131 |
| SK Inc. | &nbsp;&nbsp; 13203 | 1448092 |
| SK Innovation Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 22029 | 1679845 |
| SK Square Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 35045 | 2222878 |
| SK Telecom Co. Ltd. | &nbsp;&nbsp; 17767 | 703022 |
| SKC Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 7172 | 715090 |
| S-Oil Corp. | &nbsp;&nbsp; 15810 | 779935 |
| Woori Financial Group Inc. | &nbsp;&nbsp; 209944 | 2416500 |
| Yuhan Corp. | &nbsp;&nbsp; 20375 | 1403835 |
|  |  | 311845368 |
| **Taiwan — 21.5%** | **Taiwan — 21.5%** | **Taiwan — 21.5%** |
| Accton Technology Corp. | &nbsp;&nbsp; 163000 | 2555070 |
| Acer Inc. | &nbsp;&nbsp; 978830 | 1321192 |
| Advantech Co. Ltd. | &nbsp;&nbsp; 184927 | 1966987 |
| Airtac International Group | &nbsp;&nbsp; 49109 | 1258844 |
| Alchip Technologies Ltd. | &nbsp;&nbsp; 29000 | 2362026 |
| ASE Technology Holding Co. Ltd. | &nbsp;&nbsp; 1141110 | 5325684 |
| Asia Cement Corp. | &nbsp;&nbsp; 825448 | 1042833 |
| Asia Vital Components Co. Ltd. | &nbsp;&nbsp; 123000 | 2449181 |
| Asustek Computer Inc. | &nbsp;&nbsp; 282100 | 3956078 |
| AUO Corp. | &nbsp;&nbsp; 2282264 | 1246118 |
| Catcher Technology Co. Ltd. | &nbsp;&nbsp; 225000 | 1465600 |
| Cathay Financial Holding Co. Ltd. | &nbsp;&nbsp; 3260374 | 6243036 |
| Chailease Holding Co. Ltd. | &nbsp;&nbsp; 489453 | 2283372 |
| Chang Hwa Commercial Bank Ltd. | &nbsp;&nbsp; 1850103 | 1058134 |
| Cheng Shin Rubber Industry Co. Ltd. | &nbsp;&nbsp; 652303 | 961139 |
| China Airlines Ltd. | &nbsp;&nbsp; 978000 | 687977 |
| China Development Financial Holding Corp. | &nbsp;&nbsp; 5868763 | 2896473 |
| China Steel Corp. | &nbsp;&nbsp; 4241484 | 3002004 |
| Chunghwa Telecom Co. Ltd. | &nbsp;&nbsp; 1304110 | 4832359 |
| Compal Electronics Inc. | &nbsp;&nbsp; 1469000 | 1423338 |
| CTBC Financial Holding Co. Ltd. | &nbsp;&nbsp; 6357456 | 6900495 |
| Delta Electronics Inc. | &nbsp;&nbsp; 727000 | 9337461 |
| E Ink Holdings Inc. | &nbsp;&nbsp; 326000 | 2689870 |
| E.Sun Financial Holding Co. Ltd. | &nbsp;&nbsp; 5053710 | 4094438 |
| Eclat Textile Co. Ltd. | &nbsp;&nbsp; 60208 | 977862 |
| eMemory Technology Inc. | &nbsp;&nbsp; 22000 | 1562775 |
| Eva Airways Corp. | &nbsp;&nbsp; 978000 | 1030734 |
| Evergreen Marine Corp. Taiwan Ltd. | &nbsp;&nbsp; 326376 | 1695175 |
| Far Eastern New Century Corp. | &nbsp;&nbsp; 1141040 | 1187000 |
| Far EasTone Telecommunications Co. Ltd. | &nbsp;&nbsp; 652000 | 1717569 |
| Feng TAY Enterprise Co. Ltd. | &nbsp;&nbsp; 188100 | 805666 |
| First Financial Holding Co. Ltd. | &nbsp;&nbsp; 4011488 | 3592900 |
| Formosa Chemicals & Fibre Corp. | &nbsp;&nbsp; 1304740 | 1986547 |
| Formosa Petrochemical Corp. | &nbsp;&nbsp; 326000 | 639636 |
| Formosa Plastics Corp. | &nbsp;&nbsp; 1304400 | 2303337 |
| Fortune Electric Co. Ltd. | &nbsp;&nbsp; 48400 | 1032903 |
| Fubon Financial Holding Co. Ltd. | &nbsp;&nbsp; 2771371 | 7504769 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Taiwan (continued)** | **Taiwan (continued)** | **Taiwan (continued)** |
| Gigabyte Technology Co. Ltd. | &nbsp;&nbsp; 167000 | $1350573 |
| Global Unichip Corp. | &nbsp;&nbsp; 33000 | 1187837 |
| Globalwafers Co. Ltd. | &nbsp;&nbsp; 95000 | 1445112 |
| Hon Hai Precision Industry Co. Ltd. | &nbsp;&nbsp; 4401516 | 27002930 |
| Hotai Motor Co. Ltd. | &nbsp;&nbsp; 107980 | 2141448 |
| Hua Nan Financial Holdings Co. Ltd. | &nbsp;&nbsp; 3097466 | 2623195 |
| Innolux Corp. | &nbsp;&nbsp; 3097209 | 1456678 |
| Inventec Corp. | &nbsp;&nbsp; 978460 | 1446910 |
| Largan Precision Co. Ltd. | &nbsp;&nbsp; 35000 | 3036608 |
| Lite-On Technology Corp. | &nbsp;&nbsp; 652371 | 1995153 |
| MediaTek Inc. | &nbsp;&nbsp; 547391 | 20847451 |
| Mega Financial Holding Co. Ltd. | &nbsp;&nbsp; 4170287 | 5499007 |
| Micro-Star International Co. Ltd. | &nbsp;&nbsp; 327000 | 1706116 |
| Nan Ya Plastics Corp. | &nbsp;&nbsp; 1630000 | 2494173 |
| Nanya Technology Corp.<sup>(a)</sup> | &nbsp;&nbsp; 489000 | 860831 |
| Nien Made Enterprise Co. Ltd. | &nbsp;&nbsp; 68000 | 825861 |
| Novatek Microelectronics Corp. | &nbsp;&nbsp; 223000 | 3596445 |
| Pegatron Corp. | &nbsp;&nbsp; 652000 | 2014108 |
| PharmaEssentia Corp.<sup>(a)</sup> | &nbsp;&nbsp; 79000 | 1586076 |
| Pou Chen Corp. | &nbsp;&nbsp; 652000 | 719694 |
| President Chain Store Corp. | &nbsp;&nbsp; 237000 | 2007445 |
| Quanta Computer Inc. | &nbsp;&nbsp; 978000 | 8332315 |
| Realtek Semiconductor Corp. | &nbsp;&nbsp; 163642 | 2581446 |
| Ruentex Development Co. Ltd. | &nbsp;&nbsp; 652898 | 1024963 |
| Shanghai Commercial & Savings Bank Ltd. (The) | &nbsp;&nbsp; 1304982 | 1662518 |
| Shin Kong Financial Holding Co. Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 5053614 | 1678523 |
| Silergy Corp. | &nbsp;&nbsp; 132000 | 1824965 |
| SinoPac Financial Holdings Co. Ltd. | &nbsp;&nbsp; 3749525 | 3052142 |
| Synnex Technology International Corp. | &nbsp;&nbsp; 489950 | 1064330 |
| Taishin Financial Holding Co. Ltd. | &nbsp;&nbsp; 3912751 | 2424984 |
| Taiwan Business Bank | &nbsp;&nbsp; 2348528 | 1345654 |
| Taiwan Cement Corp. | &nbsp;&nbsp; 2331464 | 2466759 |
| Taiwan Cooperative Financial Holding Co. Ltd. | &nbsp;&nbsp; 3749447 | 3074488 |
| Taiwan High Speed Rail Corp. | &nbsp;&nbsp; 652000 | 592066 |
| Taiwan Mobile Co. Ltd. | &nbsp;&nbsp; 652000 | 2097485 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 8802670 | 256785234 |
| Unimicron Technology Corp. | &nbsp;&nbsp; 489000 | 2724910 |
| Uni-President Enterprises Corp. | &nbsp;&nbsp; 1795694 | 4614763 |
| United Microelectronics Corp. | &nbsp;&nbsp; 3912000 | 6232177 |
| Vanguard International Semiconductor Corp. | &nbsp;&nbsp; 332000 | 1183404 |
| Voltronic Power Technology Corp. | &nbsp;&nbsp; 23000 | 1309048 |
| Walsin Lihwa Corp. | &nbsp;&nbsp; 978272 | 1032246 |
| Wan Hai Lines Ltd. | &nbsp;&nbsp; 163875 | 390910 |
| Winbond Electronics Corp. | &nbsp;&nbsp; 901904 | 642989 |
| Wistron Corp. | &nbsp;&nbsp; 978000 | 2942651 |
| Wiwynn Corp. | &nbsp;&nbsp; 33000 | 2091672 |
| WPG Holdings Ltd. | &nbsp;&nbsp; 491100 | 1294120 |
| Yageo Corp. | &nbsp;&nbsp; 126112 | 3075332 |
| Yang Ming Marine Transport Corp. | &nbsp;&nbsp; 680000 | 1317743 |
| Yuanta Financial Holding Co. Ltd. | &nbsp;&nbsp; 3586973 | 3598734 |
| Zhen Ding Technology Holding Ltd. | &nbsp;&nbsp; 163097 | 687851 |
|  |  | 506386655 |
| **Thailand — 1.6%** | **Thailand — 1.6%** | **Thailand — 1.6%** |
| Advanced Info Service PCL, NVDR | &nbsp;&nbsp; 440100 | 2892529 |
| Airports of Thailand PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 1401700 | 2224248 |
| Asset World Corp. PCL, NVDR | &nbsp;&nbsp; 3504100 | 358488 |
| Bangkok Dusit Medical Services PCL, NVDR | &nbsp;&nbsp; 3927900 | 2895560 |
| Bangkok Expressway & Metro PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 2917300 | 639265 |
| Bumrungrad Hospital PCL, NVDR | &nbsp;&nbsp; 212200 | 1465125 |
| Central Pattana PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 700900 | 1088131 |
| Central Retail Corp. PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 668374 | 596439 |
| Charoen Pokphand Foods PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 1336600 | 900700 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Thailand (continued)** | **Thailand (continued)** | **Thailand (continued)** |
| CP ALL PCL, NVDR | &nbsp;&nbsp; 1955900 | $3200160 |
| CP Axtra PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 697300 | 597528 |
| Delta Electronics Thailand PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 1124700 | 3238907 |
| Energy Absolute PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 603300 | 61190 |
| Global Power Synergy PCL, NVDR | &nbsp;&nbsp; 278200 | 311472 |
| Gulf Energy Development PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 1157500 | 1553859 |
| Home Product Center PCL, NVDR | &nbsp;&nbsp; 2281943 | 583609 |
| Indorama Ventures PCL, NVDR | &nbsp;&nbsp; 603300 | 327446 |
| Intouch Holdings PCL, NVDR | &nbsp;&nbsp; 374925 | 866312 |
| Kasikornbank PCL, NVDR | &nbsp;&nbsp; 211900 | 782733 |
| Krung Thai Bank PCL, NVDR | &nbsp;&nbsp; 1157375 | 587703 |
| Krungthai Card PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 358600 | 392964 |
| Minor International PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 1255120 | 1022738 |
| PTT Exploration & Production PCL, NVDR | &nbsp;&nbsp; 489084 | 2010946 |
| PTT Global Chemical PCL, NVDR | &nbsp;&nbsp; 815076 | 624359 |
| PTT Oil & Retail Business PCL, NVDR | &nbsp;&nbsp; 1043200 | 463008 |
| PTT PCL, NVDR | &nbsp;&nbsp; 3601900 | 3232809 |
| SCB X PCL, NVDR | &nbsp;&nbsp; 293400 | 848125 |
| SCG Packaging PCL, NVDR | &nbsp;&nbsp; 456400 | 363053 |
| Siam Cement PCL (The), NVDR | &nbsp;&nbsp; 277100 | 1720031 |
| Thai Oil PCL, NVDR<sup>(c)</sup> | &nbsp;&nbsp; 456400 | 646279 |
| TMBThanachart Bank PCL, NVDR | &nbsp;&nbsp; 8865600 | 420650 |
| True Corp. PCL, NVDR<sup>(a)</sup> | &nbsp;&nbsp; 3879056 | 1010153 |
|  |  | 37926519 |
| **Total Common Stocks — 99.1%** <br>**(Cost: $2,103,864,240)** | **Total Common Stocks — 99.1%** <br>**(Cost: $2,103,864,240)** | 2337358567 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **South Korea — 0.7%** | **South Korea — 0.7%** | **South Korea — 0.7%** |
| Hyundai Motor Co. |  |  |
| Preference Shares, NVS | &nbsp;&nbsp; 8313 | 1006219 |
| Series 2, Preference Shares, NVS | &nbsp;&nbsp; 13040 | 1584855 |
| LG Chem Ltd., Preference Shares, NVS | &nbsp;&nbsp; 2934 | 457266 |
| Samsung Electronics Co. Ltd., Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 291770 | 13890245 |
|  |  | 16938585 |
| **Total Preferred Stocks — 0.7%** <br>**(Cost: $4,545,845)** | **Total Preferred Stocks — 0.7%** <br>**(Cost: $4,545,845)** | 16938585 |
| **Rights** | **Rights** | **Rights** |
| **China — 0.0%** | **China — 0.0%** | **China — 0.0%** |
| Kangmei Pharmaceutical Co. Ltd., <br> (Expires 12/31/49)<sup>(d)</sup><br>| &nbsp;&nbsp; 38498 |  |
| **India — 0.0%** | **India — 0.0%** | **India — 0.0%** |
| Tata Consumer Products Ltd. | &nbsp;&nbsp; 8096 | 35868 |
| **Total Rights — 0.0%** <br>**(Cost: $—)** | **Total Rights — 0.0%** <br>**(Cost: $—)** | 35868 |
| **Total Long-Term Investments — 99.8%** <br>**(Cost: $2,108,410,085)** | **Total Long-Term Investments — 99.8%** <br>**(Cost: $2,108,410,085)** | 2354333020 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.6%** | **Money Market Funds — 1.6%** | **Money Market Funds — 1.6%** |
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 5.45%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp; 19636845 | 19644699 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Money Market Funds (continued)** | **Money Market Funds (continued)** | **Money Market Funds (continued)** |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 5.29%<sup>(e)(f)</sup><br>| &nbsp;&nbsp; 16890000 | $16890000 |
| **Total Short-Term Securities — 1.6%** <br>**(Cost: $36,521,518)** | **Total Short-Term Securities — 1.6%** <br>**(Cost: $36,521,518)** | 36534699 |
| **Total Investments — 101.4%** <br>**(Cost: $2,144,931,603)** | **Total Investments — 101.4%** <br>**(Cost: $2,144,931,603)** | 2390867719 |
| **Liabilities in Excess of Other Assets — (1.4)%** | **Liabilities in Excess of Other Assets — (1.4)%** | (32491938)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $2358375781 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> 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. 

<sup>(c)</sup> All or a portion of this security is on loan.

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Annualized 7-day yield as of period end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $53908230 | $— | &nbsp;&nbsp; $(34264744 )<sup>(a)</sup><br>| &nbsp;&nbsp; $8417 | $(7204)<br>| $19644699 | 19636845 | $425544 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 5680000 | 11210000 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 16890000 | 16890000 | 685726 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $8417 | $(7204)<br>| $36534699 |  | $1111270 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| MSCI China Index | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $286 | &nbsp;&nbsp; $(2122)<br>|
| MSCI Emerging Markets Index | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 3344 | &nbsp;&nbsp; 1561 |
|  |  |  |  | &nbsp;&nbsp; $(561)<br>|

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1561 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1561 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2122 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2122 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $78267 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $78267 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(622739)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(622739)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $2897073 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $117357326 | &nbsp;&nbsp; $2219932861 | &nbsp;&nbsp; $68380 | &nbsp;&nbsp; $2337358567 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 16938585 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16938585 |
| Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; 35868 | &nbsp;&nbsp; — | &nbsp;&nbsp; 35868 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 36534699 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 36534699 |
|  | &nbsp;&nbsp; $153892025 | &nbsp;&nbsp; $2236907314 | &nbsp;&nbsp; $68380 | &nbsp;&nbsp; $2390867719 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $1561 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1561 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI All Country Asia ex Japan ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2122)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2122)<br>|
|  | &nbsp;&nbsp; $1561 | &nbsp;&nbsp; $(2122)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(561)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Schedule of Investments

July 31, 2024

**iShares® MSCI Europe Financials ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Austria — 0.8%** | **Austria — 0.8%** | **Austria — 0.8%** |
| Erste Group Bank AG | &nbsp;&nbsp; 319846 | $16637192 |
| **Belgium — 1.8%** | **Belgium — 1.8%** | **Belgium — 1.8%** |
| Ageas SA/NV | &nbsp;&nbsp; 151665 | 7240673 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 84026 | 6270784 |
| KBC Group NV | &nbsp;&nbsp; 238321 | 18433157 |
| Sofina SA | &nbsp;&nbsp; 14546 | 3436887 |
|  |  | 35381501 |
| **Denmark — 1.4%** | **Denmark — 1.4%** | **Denmark — 1.4%** |
| Danske Bank A/S | &nbsp;&nbsp; 655976 | 20061376 |
| Tryg A/S | &nbsp;&nbsp; 332171 | 7272586 |
|  |  | 27333962 |
| **Finland — 2.7%** | **Finland — 2.7%** | **Finland — 2.7%** |
| Nordea Bank Abp | &nbsp;&nbsp; 2996269 | 35061546 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 429695 | 18835721 |
|  |  | 53897267 |
| **France — 9.3%** | **France — 9.3%** | **France — 9.3%** |
| Amundi SA<sup>(a)</sup> | &nbsp;&nbsp; 58759 | 4288271 |
| AXA SA | &nbsp;&nbsp; 1726957 | 60633118 |
| BNP Paribas SA | &nbsp;&nbsp; 981844 | 67269783 |
| Credit Agricole SA | &nbsp;&nbsp; 1006918 | 15280447 |
| Edenred SE | &nbsp;&nbsp; 237194 | 9876465 |
| Eurazeo SE | &nbsp;&nbsp; 43295 | 3406243 |
| Euronext NV<sup>(a)</sup> | &nbsp;&nbsp; 76188 | 7702831 |
| Societe Generale SA | &nbsp;&nbsp; 686814 | 17813869 |
|  |  | 186271027 |
| **Germany — 13.5%** | **Germany — 13.5%** | **Germany — 13.5%** |
| Allianz SE, Registered | &nbsp;&nbsp; 372363 | 104881769 |
| Commerzbank AG | &nbsp;&nbsp; 1001533 | 16327464 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 1799454 | 28009355 |
| Deutsche Boerse AG | &nbsp;&nbsp; 180770 | 37015991 |
| Hannover Rueck SE | &nbsp;&nbsp; 57407 | 14253614 |
| Muenchener Rueckversicherungs-Gesellschaft AG in <br> Muenchen, Registered<br>| &nbsp;&nbsp; 129709 | 63884894 |
| Talanx AG<sup>(b)</sup> | &nbsp;&nbsp; 61380 | 4663126 |
|  |  | 269036213 |
| **Ireland — 1.0%** | **Ireland — 1.0%** | **Ireland — 1.0%** |
| AIB Group PLC | &nbsp;&nbsp; 1617577 | 9278559 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 989099 | 11201482 |
|  |  | 20480041 |
| **Italy — 8.8%** | **Italy — 8.8%** | **Italy — 8.8%** |
| Banco BPM SpA | &nbsp;&nbsp; 1224039 | 8474842 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 582149 | 9882688 |
| Generali | &nbsp;&nbsp; 968609 | 25070518 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 13890351 | 56406384 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 484396 | 7863316 |
| Nexi SpA<sup>(a)(b)</sup> | &nbsp;&nbsp; 568736 | 3490718 |
| Poste Italiane SpA<sup>(a)</sup> | &nbsp;&nbsp; 432379 | 5853350 |
| UniCredit SpA | &nbsp;&nbsp; 1439295 | 59118611 |
|  |  | 176160427 |
| **Netherlands — 6.4%** | **Netherlands — 6.4%** | **Netherlands — 6.4%** |
| ABN AMRO Bank NV, CVA<sup>(a)</sup> | &nbsp;&nbsp; 411047 | 7175586 |
| Adyen NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 20632 | 25237849 |
| Aegon Ltd. | &nbsp;&nbsp; 1293387 | 8369834 |
| ASR Nederland NV | &nbsp;&nbsp; 150134 | 7543069 |
| EXOR NV, NVS | &nbsp;&nbsp; 94422 | 9679426 |
| ING Groep NV | &nbsp;&nbsp; 3141385 | 57019102 |
| NN Group NV | &nbsp;&nbsp; 257291 | 12911932 |
|  |  | 127936798 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway — 1.0%** | **Norway — 1.0%** | **Norway — 1.0%** |
| DNB Bank ASA | &nbsp;&nbsp; 806066 | $16653354 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 191509 | 3239905 |
|  |  | 19893259 |
| **Spain — 8.1%** | **Spain — 8.1%** | **Spain — 8.1%** |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 5551344 | 58184811 |
| Banco de Sabadell SA | &nbsp;&nbsp; 5172334 | 10914890 |
| Banco Santander SA | &nbsp;&nbsp; 15045302 | 72580754 |
| CaixaBank SA | &nbsp;&nbsp; 3568423 | 20811893 |
|  |  | 162492348 |
| **Sweden — 6.3%** | **Sweden — 6.3%** | **Sweden — 6.3%** |
| EQT AB | &nbsp;&nbsp; 353935 | 11460373 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 117122 | 4017774 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 149395 | 5064060 |
| Investor AB, Class B | &nbsp;&nbsp; 1646584 | 46746713 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 72047 | 3642231 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 1507659 | 23187023 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 1383859 | 13968485 |
| Swedbank AB, Class A | &nbsp;&nbsp; 808069 | 17182731 |
|  |  | 125269390 |
| **Switzerland — 14.2%** | **Switzerland — 14.2%** | **Switzerland — 14.2%** |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 43396 | 7766203 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 28497 | 3024883 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 35552 | 5303614 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 196017 | 10727544 |
| Partners Group Holding AG | &nbsp;&nbsp; 21589 | 29059717 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 28050 | 21478276 |
| Swiss Re AG | &nbsp;&nbsp; 286529 | 35324252 |
| UBS Group AG, Registered | &nbsp;&nbsp; 3126518 | 94735597 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 139122 | 76485119 |
|  |  | 283905205 |
| **United Kingdom — 24.1%** | **United Kingdom — 24.1%** | **United Kingdom — 24.1%** |
| 3i Group PLC | &nbsp;&nbsp; 924337 | 37186735 |
| Admiral Group PLC | &nbsp;&nbsp; 248299 | 8799617 |
| Aviva PLC | &nbsp;&nbsp; 2572978 | 16574808 |
| Barclays PLC | &nbsp;&nbsp; 14271959 | 42677520 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 333676 | 4740229 |
| HSBC Holdings PLC | &nbsp;&nbsp; 17948465 | 163225200 |
| Legal & General Group PLC | &nbsp;&nbsp; 5681246 | 16945031 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 60249428 | 46027540 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 432949 | 52701004 |
| M&G PLC | &nbsp;&nbsp; 2161014 | 5900962 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 6213997 | 29482210 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 666120 | 4691544 |
| Prudential PLC | &nbsp;&nbsp; 2611233 | 23564777 |
| Schroders PLC | &nbsp;&nbsp; 760265 | 3841979 |
| Standard Chartered PLC | &nbsp;&nbsp; 2097075 | 20715505 |
| Wise PLC, Class A<sup>(b)</sup> | &nbsp;&nbsp; 583438 | 5372056 |
|  |  | 482446717 |
| **Total Long-Term Investments — 99.4%** <br>**(Cost: $1,859,330,407)** | **Total Long-Term Investments — 99.4%** <br>**(Cost: $1,859,330,407)** | 1987141347 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Financials ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** | **Money Market Funds — 0.1%** |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(c)(d)</sup><br>| &nbsp;&nbsp; 1550000 | $1550000 |
| **Total Short-Term Securities — 0.1%** <br>**(Cost: $1,550,000)** | **Total Short-Term Securities — 0.1%** <br>**(Cost: $1,550,000)** | 1550000 |
| **Total Investments — 99.5%** <br>**(Cost: $1,860,880,407)** | **Total Investments — 99.5%** <br>**(Cost: $1,860,880,407)** | 1988691347 |
| **Other Assets Less Liabilities — 0.5%** | **Other Assets Less Liabilities — 0.5%** | 9665945 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1998357292 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> 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. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> Affiliate of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(d)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<sup>(a)</sup><br>| $3289592 | $— | &nbsp;&nbsp; $(3290617 )<sup>(b)</sup><br>| &nbsp;&nbsp; $1338 | $(313)<br>| $— |  | $6776 <br><sup>(c)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 570000 | 980000 <br><sup>(b)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 1550000 | 1550000 | 75602 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $1338 | $(313)<br>| $1550000 |  | $82378 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> As of period end, the entity is no longer held.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Euro STOXX 50 Index | &nbsp;&nbsp; 116 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $6151 | &nbsp;&nbsp; $(33705)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 4302 | &nbsp;&nbsp; 86398 |
|  |  |  |  | &nbsp;&nbsp; $52693 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Financials ETF**

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $86398 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $86398 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $33705 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $33705 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $918854 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $918854 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(233628)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(233628)<br>|

---

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $13373792 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1987141347 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1987141347 |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1550000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1550000 |
|  | &nbsp;&nbsp; $1550000 | &nbsp;&nbsp; $1987141347 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1988691347 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $86398 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $86398 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (33705)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (33705)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $52693 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $52693 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® MSCI Europe Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Austria — 2.0%** | **Austria — 2.0%** | **Austria — 2.0%** |
| Andritz AG | &nbsp;&nbsp; 4997 | $320109 |
| AT&S Austria Technologie & Systemtechnik AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 1938 | 41363 |
| BAWAG Group AG<sup>(c)</sup> | &nbsp;&nbsp; 5519 | 403052 |
| CA Immobilien Anlagen AG | &nbsp;&nbsp; 3197 | 104491 |
| DO & CO AG | &nbsp;&nbsp; 576 | 97059 |
| EVN AG | &nbsp;&nbsp; 2709 | 88545 |
| Immofinanz AG<sup>(a)</sup> | &nbsp;&nbsp; 2550 | 75657 |
| Lenzing AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 1394 | 48548 |
| Oesterreichische Post AG | &nbsp;&nbsp; 2500 | 82522 |
| Palfinger AG<sup>(b)</sup> | &nbsp;&nbsp; 1069 | 26146 |
| Porr AG | &nbsp;&nbsp; 1194 | 18171 |
| Raiffeisen Bank International AG | &nbsp;&nbsp; 9725 | 189592 |
| Schoeller-Bleckmann Oilfield Equipment AG | &nbsp;&nbsp; 737 | 29292 |
| UNIQA Insurance Group AG | &nbsp;&nbsp; 9000 | 77053 |
| Vienna Insurance Group AG Wiener <br> Versicherung Gruppe<br>| &nbsp;&nbsp; 2861 | 92150 |
| Wienerberger AG | &nbsp;&nbsp; 8258 | 292783 |
|  |  | 1986533 |
| **Belgium — 2.5%** | **Belgium — 2.5%** | **Belgium — 2.5%** |
| Ackermans & van Haaren NV | &nbsp;&nbsp; 1612 | 309277 |
| Aedifica SA | &nbsp;&nbsp; 3571 | 226982 |
| Barco NV | &nbsp;&nbsp; 5100 | 65877 |
| Bekaert SA | &nbsp;&nbsp; 2617 | 107157 |
| bpost SA | &nbsp;&nbsp; 7516 | 21474 |
| Cofinimmo SA | &nbsp;&nbsp; 2699 | 173525 |
| Colruyt Group NV | &nbsp;&nbsp; 3329 | 159683 |
| Deme Group NV | &nbsp;&nbsp; 562 | 101222 |
| Fagron | &nbsp;&nbsp; 4805 | 98872 |
| Galapagos NV<sup>(a)</sup> | &nbsp;&nbsp; 3476 | 92927 |
| KBC Ancora | &nbsp;&nbsp; 2570 | 124976 |
| Kinepolis Group NV | &nbsp;&nbsp; 1026 | 41553 |
| Melexis NV | &nbsp;&nbsp; 1493 | 130156 |
| Montea NV | &nbsp;&nbsp; 1177 | 102088 |
| Ontex Group NV<sup>(a)</sup> | &nbsp;&nbsp; 5000 | 46990 |
| Proximus SADP | &nbsp;&nbsp; 9863 | 71330 |
| Recticel SA | &nbsp;&nbsp; 3184 | 42592 |
| Retail Estates NV | &nbsp;&nbsp; 859 | 58604 |
| Shurgard Self Storage Ltd. | &nbsp;&nbsp; 2490 | 97351 |
| Solvay SA | &nbsp;&nbsp; 5565 | 195913 |
| Tessenderlo Group SA | &nbsp;&nbsp; 1886 | 50331 |
| VGP NV | &nbsp;&nbsp; 1015 | 109972 |
| Xior Student Housing NV | &nbsp;&nbsp; 2369 | 79663 |
|  |  | 2508515 |
| **China — 0.0%** | **China — 0.0%** | **China — 0.0%** |
| Boshiwa International Holding Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 20000 |  |
| **Denmark — 4.9%** | **Denmark — 4.9%** | **Denmark — 4.9%** |
| ALK-Abello A/S<sup>(a)</sup> | &nbsp;&nbsp; 9788 | 220620 |
| Alm Brand A/S | &nbsp;&nbsp; 62346 | 118941 |
| Ambu A/S, Class B<sup>(a)</sup> | &nbsp;&nbsp; 13918 | 282624 |
| Bavarian Nordic A/S<sup>(a)</sup> | &nbsp;&nbsp; 5863 | 158029 |
| cBrain A/S | &nbsp;&nbsp; 852 | 31596 |
| Chemometec A/S | &nbsp;&nbsp; 1160 | 64309 |
| D/S Norden A/S | &nbsp;&nbsp; 1623 | 70207 |
| DFDS A/S | &nbsp;&nbsp; 2384 | 65391 |
| FLSmidth & Co. A/S | &nbsp;&nbsp; 3174 | 161916 |
| GN Store Nord A/S<sup>(a)</sup> | &nbsp;&nbsp; 10039 | 263797 |
| H Lundbeck A/S | &nbsp;&nbsp; 20408 | 127679 |
| H Lundbeck A/S, Class A | &nbsp;&nbsp; 2833 | 15239 |
| ISS A/S<sup>(b)</sup> | &nbsp;&nbsp; 11862 | 216820 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| Jyske Bank A/S, Registered | &nbsp;&nbsp; 3610 | $294298 |
| Matas A/S | &nbsp;&nbsp; 2490 | 42546 |
| Netcompany Group A/S<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 3299 | 140411 |
| Nilfisk Holding A/S<sup>(a)</sup> | &nbsp;&nbsp; 824 | 15353 |
| NKT A/S<sup>(a)</sup> | &nbsp;&nbsp; 3971 | 357461 |
| NTG Nordic Transport Group A/S, Class A<sup>(a)</sup> | &nbsp;&nbsp; 397 | 16838 |
| Per Aarsleff Holding A/S | &nbsp;&nbsp; 1277 | 73060 |
| Ringkjoebing Landbobank A/S | &nbsp;&nbsp; 2032 | 359652 |
| Royal Unibrew A/S<sup>(a)</sup> | &nbsp;&nbsp; 3710 | 291284 |
| Scandinavian Tobacco Group A/S, Class A<sup>(c)</sup> | &nbsp;&nbsp; 4163 | 60977 |
| Schouw & Co. A/S | &nbsp;&nbsp; 943 | 77815 |
| Spar Nord Bank A/S | &nbsp;&nbsp; 5250 | 107069 |
| Svitzer A/S, NVS<sup>(a)</sup> | &nbsp;&nbsp; 1044 | 40009 |
| Sydbank A/S | &nbsp;&nbsp; 4176 | 225138 |
| Topdanmark A/S | &nbsp;&nbsp; 3332 | 181498 |
| TORM PLC, Class A | &nbsp;&nbsp; 3517 | 136192 |
| Zealand Pharma A/S<sup>(a)</sup> | &nbsp;&nbsp; 5017 | 675896 |
|  |  | 4892665 |
| **Finland — 2.5%** | **Finland — 2.5%** | **Finland — 2.5%** |
| Cargotec OYJ, Class B | &nbsp;&nbsp; 2855 | 145527 |
| Citycon OYJ | &nbsp;&nbsp; 7591 | 33430 |
| Finnair OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 6678 | 17005 |
| Harvia OYJ | &nbsp;&nbsp; 1193 | 51339 |
| Huhtamaki OYJ | &nbsp;&nbsp; 7265 | 294374 |
| Kalmar OYJ<sup>(a)</sup> | &nbsp;&nbsp; 2855 | 84414 |
| Kemira OYJ | &nbsp;&nbsp; 8037 | 181789 |
| Kempower OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 1420 | 22990 |
| Kojamo OYJ<sup>(a)</sup> | &nbsp;&nbsp; 10202 | 100895 |
| Konecranes OYJ | &nbsp;&nbsp; 5044 | 352340 |
| Mandatum OYJ | &nbsp;&nbsp; 31139 | 144221 |
| Marimekko OYJ | &nbsp;&nbsp; 2176 | 32216 |
| Metsa Board OYJ, Class B | &nbsp;&nbsp; 11866 | 90668 |
| Musti Group OYJ<sup>(a)</sup> | &nbsp;&nbsp; 491 | 13550 |
| Nokian Renkaat OYJ | &nbsp;&nbsp; 8641 | 78843 |
| Outokumpu OYJ | &nbsp;&nbsp; 27309 | 98463 |
| Puuilo OYJ | &nbsp;&nbsp; 5557 | 61033 |
| QT Group OYJ<sup>(a)(b)</sup> | &nbsp;&nbsp; 1413 | 125742 |
| Revenio Group OYJ | &nbsp;&nbsp; 1528 | 47506 |
| TietoEVRY OYJ | &nbsp;&nbsp; 7846 | 159104 |
| Tokmanni Group Corp. | &nbsp;&nbsp; 3534 | 43257 |
| Valmet OYJ | &nbsp;&nbsp; 10911 | 309007 |
| YIT OYJ | &nbsp;&nbsp; 11321 | 28424 |
|  |  | 2516137 |
| **France — 7.1%** | **France — 7.1%** | **France — 7.1%** |
| Abivax SA, NVS<sup>(a)</sup> | &nbsp;&nbsp; 2510 | 29865 |
| Air France-KLM, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 8740 | 77716 |
| Altarea SCA | &nbsp;&nbsp; 390 | 42166 |
| Alten SA | &nbsp;&nbsp; 2245 | 246909 |
| Antin Infrastructure Partners SA | &nbsp;&nbsp; 2709 | 36669 |
| Aperam SA | &nbsp;&nbsp; 3129 | 85026 |
| Aubay | &nbsp;&nbsp; 549 | 21733 |
| Beneteau SACA | &nbsp;&nbsp; 2788 | 27181 |
| Carmila SA | &nbsp;&nbsp; 4276 | 77232 |
| Casino Guichard Perrachon SA, NVS<sup>(a)</sup> | &nbsp;&nbsp; 8399 | 31814 |
| Cie. des Alpes | &nbsp;&nbsp; 1572 | 22509 |
| Coface SA | &nbsp;&nbsp; 7806 | 118179 |
| Derichebourg SA | &nbsp;&nbsp; 7205 | 37103 |
| Elior Group SA<sup>(a)(c)</sup> | &nbsp;&nbsp; 8016 | 27820 |
| Elis SA | &nbsp;&nbsp; 13228 | 305902 |
| Equasens | &nbsp;&nbsp; 379 | 19733 |
| Eramet SA | &nbsp;&nbsp; 652 | 55380 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Esker SA | &nbsp;&nbsp; 410 | $90032 |
| Esso SA Francaise | &nbsp;&nbsp; 193 | 30364 |
| Etablissements Maurel et Prom SA | &nbsp;&nbsp; 4595 | 28059 |
| Eutelsat Communications SACA<sup>(a)(b)</sup> | &nbsp;&nbsp; 8916 | 46080 |
| Exclusive Networks SA<sup>(a)</sup> | &nbsp;&nbsp; 1012 | 25464 |
| Fnac Darty SA | &nbsp;&nbsp; 772 | 22913 |
| Forvia SE | &nbsp;&nbsp; 11834 | 138611 |
| Gaztransport Et Technigaz SA | &nbsp;&nbsp; 2604 | 383687 |
| GL Events SACA | &nbsp;&nbsp; 788 | 16155 |
| ICADE | &nbsp;&nbsp; 2526 | 56143 |
| ID Logistics Group SACA<sup>(a)</sup> | &nbsp;&nbsp; 204 | 98647 |
| Imerys SA | &nbsp;&nbsp; 2454 | 83379 |
| Interparfums SA | &nbsp;&nbsp; 1677 | 85221 |
| IPSOS SA | &nbsp;&nbsp; 2874 | 177375 |
| JCDecaux SE<sup>(a)</sup> | &nbsp;&nbsp; 4683 | 97629 |
| Kaufman & Broad SA | &nbsp;&nbsp; 821 | 28077 |
| LISI SA | &nbsp;&nbsp; 1223 | 33672 |
| Manitou BF SA | &nbsp;&nbsp; 795 | 18388 |
| Mercialys SA | &nbsp;&nbsp; 6793 | 86074 |
| Mersen SA | &nbsp;&nbsp; 1660 | 57540 |
| Metropole Television SA | &nbsp;&nbsp; 1923 | 25101 |
| Neoen SA<sup>(c)</sup> | &nbsp;&nbsp; 5065 | 211200 |
| Nexans SA | &nbsp;&nbsp; 2264 | 292613 |
| Nexity SA<sup>(a)</sup> | &nbsp;&nbsp; 2738 | 30859 |
| Opmobility | &nbsp;&nbsp; 4193 | 43959 |
| Orpea SA, NVS<sup>(a)</sup> | &nbsp;&nbsp; 5377 | 60241 |
| OVH Groupe SAS, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 2716 | 17521 |
| Peugeot Invest SA | &nbsp;&nbsp; 374 | 33863 |
| Pierre & Vacances SA, NVS<sup>(a)</sup> | &nbsp;&nbsp; 9600 | 14249 |
| Pluxee NV, NVS<sup>(a)</sup> | &nbsp;&nbsp; 6527 | 152992 |
| Quadient SA | &nbsp;&nbsp; 2138 | 42411 |
| Rubis SCA | &nbsp;&nbsp; 5830 | 182592 |
| SCOR SE | &nbsp;&nbsp; 11296 | 241760 |
| Seche Environnement SACA, NVS | &nbsp;&nbsp; 169 | 18444 |
| SES SA, Class A | &nbsp;&nbsp; 27456 | 148461 |
| Societe BIC SA | &nbsp;&nbsp; 1738 | 109045 |
| SOITEC<sup>(a)</sup> | &nbsp;&nbsp; 1877 | 242004 |
| Sopra Steria Group SACA | &nbsp;&nbsp; 1139 | 211120 |
| SPIE SA | &nbsp;&nbsp; 10486 | 405335 |
| Technip Energies NV | &nbsp;&nbsp; 11575 | 294890 |
| Television Francaise 1 SA | &nbsp;&nbsp; 3308 | 29108 |
| Trigano SA | &nbsp;&nbsp; 651 | 76332 |
| Ubisoft Entertainment SA<sup>(a)</sup> | &nbsp;&nbsp; 7015 | 144112 |
| Valeo SE | &nbsp;&nbsp; 16194 | 185051 |
| Vallourec SACA<sup>(a)</sup> | &nbsp;&nbsp; 11848 | 191566 |
| Valneva SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 7505 | 26746 |
| Verallia SA<sup>(c)</sup> | &nbsp;&nbsp; 5350 | 157372 |
| Vicat SACA | &nbsp;&nbsp; 1331 | 46287 |
| Virbac SACA | &nbsp;&nbsp; 308 | 117248 |
| Voltalia SA<sup>(a)</sup> | &nbsp;&nbsp; 2736 | 30413 |
| VusionGroup<sup>(b)</sup> | &nbsp;&nbsp; 526 | 76661 |
| Wavestone | &nbsp;&nbsp; 580 | 33694 |
| Wendel SE | &nbsp;&nbsp; 1960 | 187791 |
| Worldline SA/France<sup>(a)(c)</sup> | &nbsp;&nbsp; 15633 | 177386 |
| X-Fab Silicon Foundries SE<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 4364 | 27919 |
|  |  | 7152793 |
| **Germany — 7.3%** | **Germany — 7.3%** | **Germany — 7.3%** |
| 1&1 AG | &nbsp;&nbsp; 2730 | 43946 |
| About You Holding SE<sup>(a)</sup> | &nbsp;&nbsp; 4088 | 15446 |
| Adesso SE | &nbsp;&nbsp; 229 | 22641 |
| Adtran Networks SE | &nbsp;&nbsp; 1434 | 29828 |
| AIXTRON SE<sup>(b)</sup> | &nbsp;&nbsp; 8349 | 194945 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Amadeus Fire AG | &nbsp;&nbsp; 411 | $42233 |
| Aroundtown SA<sup>(a)</sup> | &nbsp;&nbsp; 57634 | 122955 |
| Atoss Software SE | &nbsp;&nbsp; 584 | 86091 |
| Aurubis AG | &nbsp;&nbsp; 2326 | 181394 |
| Auto1 Group SE<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 8130 | 68452 |
| BayWa AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 1190 | 16712 |
| Befesa SA<sup>(c)</sup> | &nbsp;&nbsp; 2642 | 82025 |
| Bilfinger SE | &nbsp;&nbsp; 2082 | 116728 |
| Borussia Dortmund GmbH & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 6234 | 24593 |
| CANCOM SE | &nbsp;&nbsp; 2406 | 85358 |
| Ceconomy AG<sup>(a)</sup> | &nbsp;&nbsp; 10547 | 31812 |
| Cewe Stiftung & Co. KGaA | &nbsp;&nbsp; 374 | 40044 |
| CompuGroup Medical SE & Co. KgaA | &nbsp;&nbsp; 1985 | 34426 |
| CureVac NV<sup>(a)</sup> | &nbsp;&nbsp; 7108 | 25540 |
| Datagroup SE | &nbsp;&nbsp; 282 | 12798 |
| Dermapharm Holding SE | &nbsp;&nbsp; 1368 | 52404 |
| Deutsche Pfandbriefbank AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 10000 | 56434 |
| Deutz AG | &nbsp;&nbsp; 8735 | 50311 |
| Duerr AG | &nbsp;&nbsp; 3769 | 82898 |
| Eckert & Ziegler SE | &nbsp;&nbsp; 1088 | 50920 |
| Elmos Semiconductor SE | &nbsp;&nbsp; 443 | 36211 |
| ElringKlinger AG | &nbsp;&nbsp; 2601 | 13624 |
| Encavis AG, NVS<sup>(a)</sup> | &nbsp;&nbsp; 8918 | 167146 |
| Energiekontor AG | &nbsp;&nbsp; 505 | 35524 |
| Evotec SE<sup>(a)</sup> | &nbsp;&nbsp; 10476 | 98711 |
| Fielmann Group AG | &nbsp;&nbsp; 1903 | 86158 |
| flatexDEGIRO AG | &nbsp;&nbsp; 5625 | 79434 |
| Formycon AG<sup>(a)</sup> | &nbsp;&nbsp; 558 | 31951 |
| Fraport AG Frankfurt Airport Services Worldwide<sup>(a)</sup> | &nbsp;&nbsp; 2708 | 137521 |
| Freenet AG | &nbsp;&nbsp; 8781 | 242988 |
| Gerresheimer AG | &nbsp;&nbsp; 2591 | 267876 |
| GFT Technologies SE | &nbsp;&nbsp; 1296 | 33281 |
| Grand City Properties SA<sup>(a)</sup> | &nbsp;&nbsp; 5163 | 60861 |
| Grenke AG | &nbsp;&nbsp; 2003 | 61852 |
| Hamborner REIT AG | &nbsp;&nbsp; 5502 | 38709 |
| Hamburger Hafen und Logistik AG, NVS | &nbsp;&nbsp; 1773 | 29742 |
| HelloFresh SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 12349 | 77141 |
| Hensoldt AG | &nbsp;&nbsp; 4669 | 172758 |
| Hornbach Holding AG & Co. KGaA | &nbsp;&nbsp; 602 | 49343 |
| Hugo Boss AG<sup>(b)</sup> | &nbsp;&nbsp; 4191 | 166552 |
| Hypoport SE<sup>(a)</sup> | &nbsp;&nbsp; 309 | 91836 |
| Ionos SE<sup>(a)</sup> | &nbsp;&nbsp; 1514 | 39996 |
| Jenoptik AG | &nbsp;&nbsp; 3860 | 110055 |
| JOST Werke SE<sup>(c)</sup> | &nbsp;&nbsp; 874 | 39506 |
| K+S AG, Registered | &nbsp;&nbsp; 13238 | 170541 |
| KION Group AG | &nbsp;&nbsp; 5334 | 210959 |
| Kloeckner & Co. SE | &nbsp;&nbsp; 3996 | 22046 |
| Knaus Tabbert AG | &nbsp;&nbsp; 304 | 10197 |
| Kontron AG | &nbsp;&nbsp; 2890 | 61231 |
| Krones AG | &nbsp;&nbsp; 1056 | 142871 |
| Lanxess AG | &nbsp;&nbsp; 6419 | 167578 |
| MBB SE | &nbsp;&nbsp; 128 | 14312 |
| METRO AG | &nbsp;&nbsp; 7909 | 36015 |
| Mutares SE & Co. KGaA | &nbsp;&nbsp; 990 | 34266 |
| Nagarro SE<sup>(a)</sup> | &nbsp;&nbsp; 593 | 51568 |
| Nordex SE<sup>(a)</sup> | &nbsp;&nbsp; 8882 | 134661 |
| Norma Group SE | &nbsp;&nbsp; 2277 | 42336 |
| Northern Data AG<sup>(a)(b)</sup> | &nbsp;&nbsp; 1041 | 23658 |
| Patrizia SE | &nbsp;&nbsp; 2884 | 22719 |
| Pfeiffer Vacuum Technology AG | &nbsp;&nbsp; 291 | 49625 |
| PNE AG<sup>(b)</sup> | &nbsp;&nbsp; 2155 | 34284 |
| ProSiebenSat.1 Media SE<sup>(b)</sup> | &nbsp;&nbsp; 10545 | 72342 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| PVA TePla AG<sup>(a)</sup> | &nbsp;&nbsp; 1530 | $23904 |
| Redcare Pharmacy NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 1121 | 167818 |
| RENK Group AG<sup>(a)</sup> | &nbsp;&nbsp; 2252 | 63880 |
| SAF-Holland SE | &nbsp;&nbsp; 3412 | 69799 |
| Salzgitter AG | &nbsp;&nbsp; 1700 | 30481 |
| Schott Pharma AG & Co. KGaA<sup>(b)</sup> | &nbsp;&nbsp; 2739 | 94397 |
| Secunet Security Networks AG | &nbsp;&nbsp; 132 | 17459 |
| SGL Carbon SE<sup>(a)(b)</sup> | &nbsp;&nbsp; 4482 | 30102 |
| Siltronic AG | &nbsp;&nbsp; 1203 | 98110 |
| Sixt SE<sup>(b)</sup> | &nbsp;&nbsp; 1002 | 69915 |
| SMA Solar Technology AG | &nbsp;&nbsp; 1189 | 31978 |
| Stabilus SE | &nbsp;&nbsp; 1855 | 90775 |
| Steico SE<sup>(b)</sup> | &nbsp;&nbsp; 375 | 11088 |
| Stratec SE | &nbsp;&nbsp; 558 | 24548 |
| Stroeer SE & Co. KGaA | &nbsp;&nbsp; 2457 | 166119 |
| Suedzucker AG | &nbsp;&nbsp; 4602 | 60663 |
| SUESS MicroTec SE | &nbsp;&nbsp; 1444 | 98057 |
| TAG Immobilien AG<sup>(a)</sup> | &nbsp;&nbsp; 12911 | 194514 |
| Takkt AG<sup>(b)</sup> | &nbsp;&nbsp; 1632 | 18899 |
| TeamViewer SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 10785 | 145457 |
| thyssenkrupp AG | &nbsp;&nbsp; 37022 | 141757 |
| Thyssenkrupp Nucera AG & Co. KGaa<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 1852 | 17480 |
| TUI AG<sup>(a)</sup> | &nbsp;&nbsp; 34276 | 221041 |
| United Internet AG, Registered<sup>(e)</sup> | &nbsp;&nbsp; 6485 | 143832 |
| Verbio SE | &nbsp;&nbsp; 1365 | 25663 |
| Vib Vermoegen AG<sup>(a)</sup> | &nbsp;&nbsp; 844 | 7453 |
| Vossloh AG | &nbsp;&nbsp; 677 | 35990 |
| Wacker Chemie AG | &nbsp;&nbsp; 1366 | 136530 |
| Wacker Neuson SE | &nbsp;&nbsp; 2106 | 32782 |
| Wuestenrot & Wuerttembergische AG | &nbsp;&nbsp; 1773 | 23947 |
|  |  | 7335357 |
| **Hong Kong — 0.0%** | **Hong Kong — 0.0%** | **Hong Kong — 0.0%** |
| Peace Mark Holdings Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 30000 |  |
| **Ireland — 0.6%** | **Ireland — 0.6%** | **Ireland — 0.6%** |
| Cairn Homes PLC | &nbsp;&nbsp; 45667 | 93410 |
| Dalata Hotel Group PLC | &nbsp;&nbsp; 15869 | 70648 |
| Glanbia PLC | &nbsp;&nbsp; 14802 | 296200 |
| Glenveagh Properties PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 39386 | 58653 |
| Irish Residential Properties REIT PLC | &nbsp;&nbsp; 36182 | 36025 |
| Uniphar PLC<sup>(a)</sup> | &nbsp;&nbsp; 16983 | 47927 |
|  |  | 602863 |
| **Italy — 6.6%** | **Italy — 6.6%** | **Italy — 6.6%** |
| A2A SpA | &nbsp;&nbsp; 115726 | 245116 |
| ACEA SpA | &nbsp;&nbsp; 3220 | 55865 |
| Anima Holding SpA<sup>(c)</sup> | &nbsp;&nbsp; 13201 | 69418 |
| Ariston Holding NV | &nbsp;&nbsp; 6123 | 24868 |
| Arnoldo Mondadori Editore SpA | &nbsp;&nbsp; 10100 | 28584 |
| Ascopiave SpA | &nbsp;&nbsp; 5502 | 14797 |
| Azimut Holding SpA | &nbsp;&nbsp; 8038 | 201399 |
| Banca Generali SpA | &nbsp;&nbsp; 4308 | 187469 |
| Banca IFIS SpA | &nbsp;&nbsp; 1757 | 41246 |
| Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp; 70908 | 386935 |
| Banca Popolare di Sondrio SpA | &nbsp;&nbsp; 27223 | 207470 |
| BFF Bank SpA<sup>(c)</sup> | &nbsp;&nbsp; 13029 | 147275 |
| Bio On SpA<sup>(b)(d)</sup> | &nbsp;&nbsp; 801 |  |
| BPER Banca SpA | &nbsp;&nbsp; 73255 | 428617 |
| Brembo NV | &nbsp;&nbsp; 11118 | 124725 |
| Brunello Cucinelli SpA | &nbsp;&nbsp; 2513 | 234732 |
| Buzzi SpA | &nbsp;&nbsp; 7134 | 279682 |
| Carel Industries SpA<sup>(c)</sup> | &nbsp;&nbsp; 3687 | 68099 |
| Cembre SpA | &nbsp;&nbsp; 383 | 14943 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Italy (continued)** | **Italy (continued)** | **Italy (continued)** |
| Cementir Holding NV | &nbsp;&nbsp; 3673 | $41422 |
| CIR SpA-Compagnie Industriali<sup>(a)</sup> | &nbsp;&nbsp; 46498 | 29620 |
| Credito Emiliano SpA | &nbsp;&nbsp; 6486 | 71000 |
| d'Amico International Shipping SA, NVS | &nbsp;&nbsp; 3060 | 23149 |
| Danieli & C Officine Meccaniche SpA<sup>(b)</sup> | &nbsp;&nbsp; 752 | 29299 |
| De' Longhi SpA | &nbsp;&nbsp; 5557 | 175158 |
| Digital Value SpA | &nbsp;&nbsp; 180 | 10714 |
| El.En. SpA<sup>(b)</sup> | &nbsp;&nbsp; 3143 | 33029 |
| Enav SpA<sup>(c)</sup> | &nbsp;&nbsp; 20133 | 86113 |
| ERG SpA | &nbsp;&nbsp; 3949 | 104710 |
| Ferretti SpA, NVS | &nbsp;&nbsp; 11152 | 33734 |
| Fila SpA | &nbsp;&nbsp; 2346 | 22648 |
| Fincantieri SpA<sup>(a)</sup> | &nbsp;&nbsp; 7171 | 39951 |
| GVS SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 4951 | 34215 |
| Hera SpA | &nbsp;&nbsp; 60478 | 221289 |
| Industrie De Nora SpA | &nbsp;&nbsp; 2052 | 23770 |
| Intercos SpA, NVS | &nbsp;&nbsp; 3503 | 62553 |
| Interpump Group SpA | &nbsp;&nbsp; 5633 | 244293 |
| Iren SpA | &nbsp;&nbsp; 43938 | 89407 |
| Italgas SpA | &nbsp;&nbsp; 36532 | 195343 |
| Iveco Group NV | &nbsp;&nbsp; 12918 | 132657 |
| Juventus Football Club SpA, NVS<sup>(a)(b)</sup> | &nbsp;&nbsp; 11061 | 28490 |
| Lottomatica Group SpA | &nbsp;&nbsp; 8499 | 103846 |
| LU-VE SpA, NVS | &nbsp;&nbsp; 632 | 17544 |
| Maire Tecnimont SpA | &nbsp;&nbsp; 10885 | 86370 |
| MARR SpA | &nbsp;&nbsp; 2439 | 30388 |
| MFE-MediaForEurope NV, NVS | &nbsp;&nbsp; 4172 | 19361 |
| MFE-MediaForEurope NV, Class A | &nbsp;&nbsp; 11939 | 40673 |
| OVS SpA<sup>(c)</sup> | &nbsp;&nbsp; 13977 | 39539 |
| Pharmanutra SpA<sup>(b)</sup> | &nbsp;&nbsp; 272 | 13945 |
| Piaggio & C SpA | &nbsp;&nbsp; 11949 | 32915 |
| Pirelli & C SpA<sup>(c)</sup> | &nbsp;&nbsp; 22036 | 137952 |
| RAI Way SpA<sup>(c)</sup> | &nbsp;&nbsp; 6903 | 37204 |
| Reply SpA | &nbsp;&nbsp; 1683 | 238895 |
| Safilo Group SpA<sup>(a)</sup> | &nbsp;&nbsp; 15119 | 17082 |
| Saipem SpA<sup>(a)</sup> | &nbsp;&nbsp; 96042 | 228161 |
| Salcef Group SpA | &nbsp;&nbsp; 1595 | 44104 |
| Salvatore Ferragamo SpA<sup>(b)</sup> | &nbsp;&nbsp; 4917 | 42875 |
| Sanlorenzo SpA/Ameglia | &nbsp;&nbsp; 884 | 35992 |
| Saras SpA | &nbsp;&nbsp; 31185 | 53967 |
| Seco SpA<sup>(a)(b)</sup> | &nbsp;&nbsp; 3997 | 11182 |
| Sesa SpA<sup>(b)</sup> | &nbsp;&nbsp; 586 | 64393 |
| SOL SpA | &nbsp;&nbsp; 2705 | 101148 |
| Spaxs SpA | &nbsp;&nbsp; 4183 | 21442 |
| Tamburi Investment Partners SpA | &nbsp;&nbsp; 6749 | 68051 |
| Technogym SpA<sup>(c)</sup> | &nbsp;&nbsp; 9672 | 94858 |
| Technoprobe SpA<sup>(a)</sup> | &nbsp;&nbsp; 10945 | 99586 |
| Tinexta SpA | &nbsp;&nbsp; 1547 | 25348 |
| Unipol Gruppo SpA | &nbsp;&nbsp; 29547 | 318350 |
| Webuild SpA | &nbsp;&nbsp; 34257 | 89680 |
| Wiit SpA | &nbsp;&nbsp; 748 | 18214 |
| Zignago Vetro SpA | &nbsp;&nbsp; 2610 | 32034 |
|  |  | 6658903 |
| **Netherlands — 2.7%** | **Netherlands — 2.7%** | **Netherlands — 2.7%** |
| Aalberts NV | &nbsp;&nbsp; 7356 | 281276 |
| Alfen NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 1603 | 29637 |
| Allfunds Group PLC | &nbsp;&nbsp; 25199 | 151457 |
| AMG Critical Materials NV | &nbsp;&nbsp; 2377 | 40437 |
| Arcadis NV | &nbsp;&nbsp; 5348 | 381960 |
| Basic-Fit NV<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 3875 | 93743 |
| Brunel International NV<sup>(b)</sup> | &nbsp;&nbsp; 1510 | 17215 |
| Corbion NV | &nbsp;&nbsp; 4002 | 89586 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| Eurocommercial Properties NV | &nbsp;&nbsp; 3255 | $81073 |
| Fastned BV<sup>(a)(b)</sup> | &nbsp;&nbsp; 481 | 9006 |
| Flow Traders Ltd., NVS | &nbsp;&nbsp; 2472 | 41210 |
| Fugro NV | &nbsp;&nbsp; 8390 | 224080 |
| Just Eat Takeaway.com NV<sup>(a)(c)</sup> | &nbsp;&nbsp; 13769 | 175477 |
| Koninklijke Vopak NV | &nbsp;&nbsp; 5188 | 231764 |
| Pharming Group NV<sup>(a)</sup> | &nbsp;&nbsp; 48810 | 42251 |
| PostNL NV | &nbsp;&nbsp; 23270 | 34358 |
| Royal BAM Group NV | &nbsp;&nbsp; 19844 | 82241 |
| SBM Offshore NV | &nbsp;&nbsp; 10778 | 174671 |
| Signify NV<sup>(c)</sup> | &nbsp;&nbsp; 9507 | 235340 |
| Sligro Food Group NV | &nbsp;&nbsp; 1613 | 21436 |
| TKH Group NV | &nbsp;&nbsp; 2926 | 128222 |
| TomTom NV<sup>(a)(b)</sup> | &nbsp;&nbsp; 5393 | 29589 |
| Van Lanschot Kempen NV | &nbsp;&nbsp; 2203 | 95344 |
| Vastned Retail NV | &nbsp;&nbsp; 945 | 23932 |
| Wereldhave NV | &nbsp;&nbsp; 2562 | 38430 |
|  |  | 2753735 |
| **Norway — 5.1%** | **Norway — 5.1%** | **Norway — 5.1%** |
| Aker ASA, Class A | &nbsp;&nbsp; 1614 | 94680 |
| Aker Carbon Capture ASA<sup>(a)</sup> | &nbsp;&nbsp; 25365 | 14806 |
| Aker Solutions ASA | &nbsp;&nbsp; 20316 | 96931 |
| Atea ASA | &nbsp;&nbsp; 5783 | 76961 |
| Austevoll Seafood ASA | &nbsp;&nbsp; 6828 | 56390 |
| Avance Gas Holding Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1423 | 21885 |
| Bakkafrost P/F | &nbsp;&nbsp; 3703 | 193425 |
| Belships ASA | &nbsp;&nbsp; 8549 | 18022 |
| BlueNord ASA<sup>(a)</sup> | &nbsp;&nbsp; 1751 | 81848 |
| Borr Drilling Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 15484 | 105204 |
| Borregaard ASA | &nbsp;&nbsp; 6979 | 119615 |
| BW Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 4900 | 13922 |
| BW Offshore Ltd. | &nbsp;&nbsp; 6460 | 17999 |
| Cadeler AS<sup>(a)</sup> | &nbsp;&nbsp; 14486 | 93603 |
| Cavendish Hydrogen ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 2508 | 4277 |
| Cool Co. Ltd. | &nbsp;&nbsp; 1723 | 21003 |
| Crayon Group Holding ASA<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 5611 | 66942 |
| DNO ASA | &nbsp;&nbsp; 37474 | 38162 |
| DOF Group ASA<sup>(a)</sup> | &nbsp;&nbsp; 10445 | 108023 |
| Elkem ASA<sup>(a)(c)</sup> | &nbsp;&nbsp; 20405 | 42584 |
| Entra ASA<sup>(a)(c)</sup> | &nbsp;&nbsp; 5566 | 62567 |
| Europris ASA<sup>(c)</sup> | &nbsp;&nbsp; 11774 | 70251 |
| Flex LNG Ltd. | &nbsp;&nbsp; 2420 | 65254 |
| Frontline PLC, NVS | &nbsp;&nbsp; 10861 | 267678 |
| Golden Ocean Group Ltd. | &nbsp;&nbsp; 9607 | 119399 |
| Grieg Seafood ASA | &nbsp;&nbsp; 3637 | 21217 |
| Hafnia Ltd. | &nbsp;&nbsp; 20743 | 164356 |
| Hoegh Autoliners ASA | &nbsp;&nbsp; 9307 | 101731 |
| Kitron ASA | &nbsp;&nbsp; 12943 | 43152 |
| Leroy Seafood Group ASA | &nbsp;&nbsp; 19550 | 84933 |
| MPC Container Ships ASA | &nbsp;&nbsp; 28329 | 59435 |
| NEL ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 125439 | 67584 |
| Norconsult Norge A/S, NVS | &nbsp;&nbsp; 7913 | 23861 |
| Nordic Semiconductor ASA<sup>(a)</sup> | &nbsp;&nbsp; 13746 | 170015 |
| Norwegian Air Shuttle ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 53239 | 55561 |
| Nykode Therapeutics ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 13537 | 18634 |
| Odfjell Drilling Ltd. | &nbsp;&nbsp; 6650 | 34753 |
| Odfjell SE, Class A | &nbsp;&nbsp; 1087 | 16556 |
| Protector Forsikring ASA | &nbsp;&nbsp; 3915 | 80907 |
| REC Silicon ASA<sup>(a)(b)</sup> | &nbsp;&nbsp; 19019 | 15610 |
| Scatec ASA<sup>(a)(c)</sup> | &nbsp;&nbsp; 8634 | 69691 |
| Schibsted ASA, Class A | &nbsp;&nbsp; 5452 | 156705 |
| Schibsted ASA, Class B | &nbsp;&nbsp; 7159 | 194614 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| Seadrill Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 2158 | $118835 |
| SpareBank 1 Nord Norge | &nbsp;&nbsp; 6855 | 67792 |
| SpareBank 1 Oestlandet | &nbsp;&nbsp; 2641 | 36385 |
| SpareBank 1 SMN | &nbsp;&nbsp; 9502 | 141834 |
| SpareBank 1 SR-Bank ASA | &nbsp;&nbsp; 13775 | 176838 |
| Stolt-Nielsen Ltd. | &nbsp;&nbsp; 1756 | 68884 |
| Storebrand ASA | &nbsp;&nbsp; 32686 | 328068 |
| Subsea 7 SA | &nbsp;&nbsp; 17129 | 329477 |
| TGS ASA | &nbsp;&nbsp; 14377 | 175804 |
| TOMRA Systems ASA | &nbsp;&nbsp; 17771 | 292925 |
| Wallenius Wilhelmsen ASA | &nbsp;&nbsp; 7924 | 73679 |
|  |  | 5061267 |
| **Portugal — 0.7%** | **Portugal — 0.7%** | **Portugal — 0.7%** |
| Altri SGPS SA | &nbsp;&nbsp; 5470 | 29748 |
| Banco Comercial Portugues SA, Class R | &nbsp;&nbsp; 613905 | 258793 |
| Corticeira Amorim SGPS SA | &nbsp;&nbsp; 2924 | 28797 |
| CTT-Correios de Portugal SA | &nbsp;&nbsp; 6089 | 27517 |
| Greenvolt Energias Renovaveis SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 4354 | 39205 |
| Mota-Engil SGPS SA | &nbsp;&nbsp; 6544 | 25677 |
| Navigator Co. SA (The) | &nbsp;&nbsp; 15645 | 63478 |
| NOS SGPS SA | &nbsp;&nbsp; 13192 | 50755 |
| REN - Redes Energeticas Nacionais SGPS SA | &nbsp;&nbsp; 29113 | 73830 |
| Semapa-Sociedade de Investimento e Gestao | &nbsp;&nbsp; 1101 | 17816 |
| Sonae SGPS SA | &nbsp;&nbsp; 60117 | 61320 |
|  |  | 676936 |
| **Singapore — 0.1%** | **Singapore — 0.1%** | **Singapore — 0.1%** |
| BW LPG Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 6093 | 99013 |
| Jurong Technologies Industrial Corp. Ltd.<sup>(d)</sup> | &nbsp;&nbsp; 60000 |  |
|  |  | 99013 |
| **Spain — 3.6%** | **Spain — 3.6%** | **Spain — 3.6%** |
| Acerinox SA | &nbsp;&nbsp; 14035 | 147473 |
| Aedas Homes SA<sup>(c)</sup> | &nbsp;&nbsp; 646 | 16185 |
| Almirall SA | &nbsp;&nbsp; 6456 | 64359 |
| Atresmedia Corp. de Medios de Comunicacion SA | &nbsp;&nbsp; 6800 | 34380 |
| Audax Renovables SA<sup>(a)</sup> | &nbsp;&nbsp; 9306 | 18395 |
| Bankinter SA | &nbsp;&nbsp; 49977 | 426876 |
| Cia. de Distribucion Integral Logista Holdings SA | &nbsp;&nbsp; 4530 | 134152 |
| Cie. Automotive SA | &nbsp;&nbsp; 3099 | 90520 |
| Construcciones y Auxiliar de Ferrocarriles SA | &nbsp;&nbsp; 1297 | 49104 |
| Distribuidora Internacional de Alimentacion SA<sup>(a)</sup> | &nbsp;&nbsp; 1072953 | 14747 |
| eDreams ODIGEO SA<sup>(a)</sup> | &nbsp;&nbsp; 6902 | 50495 |
| Enagas SA | &nbsp;&nbsp; 17468 | 261879 |
| Ence Energia y Celulosa SA<sup>(a)</sup> | &nbsp;&nbsp; 10908 | 38323 |
| Faes Farma SA | &nbsp;&nbsp; 22859 | 87512 |
| Fluidra SA | &nbsp;&nbsp; 7264 | 161832 |
| Gestamp Automocion SA<sup>(c)</sup> | &nbsp;&nbsp; 13774 | 39949 |
| Global Dominion Access SA<sup>(c)</sup> | &nbsp;&nbsp; 6437 | 21025 |
| Grenergy Renovables SA<sup>(a)</sup> | &nbsp;&nbsp; 1018 | 38560 |
| Indra Sistemas SA | &nbsp;&nbsp; 7292 | 146233 |
| Inmobiliaria Colonial SOCIMI SA | &nbsp;&nbsp; 19942 | 116008 |
| Laboratorios Farmaceuticos Rovi SA | &nbsp;&nbsp; 1595 | 153462 |
| Lar Espana Real Estate SOCIMI SA | &nbsp;&nbsp; 3630 | 31978 |
| Linea Directa Aseguradora SA Cia de Seguros <br> y Reaseguros<br>| &nbsp;&nbsp; 45285 | 54205 |
| Mapfre SA | &nbsp;&nbsp; 69557 | 168567 |
| Melia Hotels International SA | &nbsp;&nbsp; 8145 | 62365 |
| Merlin Properties SOCIMI SA | &nbsp;&nbsp; 29232 | 333826 |
| Neinor Homes SA<sup>(c)</sup> | &nbsp;&nbsp; 1893 | 26633 |
| Pharma Mar SA | &nbsp;&nbsp; 1152 | 48445 |
| Prosegur Cash SA<sup>(c)</sup> | &nbsp;&nbsp; 20859 | 12055 |
| Prosegur Cia. de Seguridad SA | &nbsp;&nbsp; 8649 | 16062 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Sacyr SA | &nbsp;&nbsp; 30849 | $108989 |
| Solaria Energia y Medio Ambiente SA<sup>(a)(b)</sup> | &nbsp;&nbsp; 6003 | 71687 |
| Talgo SA<sup>(c)</sup> | &nbsp;&nbsp; 5158 | 23390 |
| Tecnicas Reunidas SA<sup>(a)</sup> | &nbsp;&nbsp; 3660 | 45662 |
| Unicaja Banco SA<sup>(c)</sup> | &nbsp;&nbsp; 79702 | 107280 |
| Vidrala SA | &nbsp;&nbsp; 1583 | 164747 |
| Viscofan SA | &nbsp;&nbsp; 3007 | 200500 |
|  |  | 3587860 |
| **Sweden — 11.9%** | **Sweden — 11.9%** | **Sweden — 11.9%** |
| AAK AB | &nbsp;&nbsp; 13429 | 386447 |
| AcadeMedia AB<sup>(c)</sup> | &nbsp;&nbsp; 5626 | 28946 |
| AddLife AB, Class B | &nbsp;&nbsp; 8844 | 129669 |
| Addnode Group AB, Class B | &nbsp;&nbsp; 9029 | 89731 |
| AddTech AB, Class B | &nbsp;&nbsp; 19211 | 619917 |
| AFRY AB | &nbsp;&nbsp; 6826 | 123727 |
| Alimak Group AB<sup>(c)</sup> | &nbsp;&nbsp; 5068 | 53727 |
| Alleima AB, NVS | &nbsp;&nbsp; 13776 | 100110 |
| Alligo AB | &nbsp;&nbsp; 1399 | 18407 |
| AQ Group AB | &nbsp;&nbsp; 4119 | 54863 |
| Arjo AB, Class B | &nbsp;&nbsp; 16163 | 62642 |
| Atrium Ljungberg AB, Class B | &nbsp;&nbsp; 3879 | 82970 |
| Attendo AB<sup>(c)</sup> | &nbsp;&nbsp; 7438 | 32505 |
| Avanza Bank Holding AB<sup>(b)</sup> | &nbsp;&nbsp; 9289 | 208666 |
| Axfood AB | &nbsp;&nbsp; 8129 | 201608 |
| Betsson AB | &nbsp;&nbsp; 8603 | 102401 |
| Better Collective A/S<sup>(a)(b)</sup> | &nbsp;&nbsp; 2759 | 63248 |
| Bilia AB, Class A | &nbsp;&nbsp; 4685 | 58312 |
| Billerud Aktiebolag | &nbsp;&nbsp; 16628 | 167437 |
| BioArctic AB, Class B<sup>(a)(c)</sup> | &nbsp;&nbsp; 2790 | 41808 |
| BioGaia AB, Class B | &nbsp;&nbsp; 5994 | 71362 |
| Biotage AB | &nbsp;&nbsp; 5190 | 97314 |
| BoneSupport Holding AB<sup>(a)(c)</sup> | &nbsp;&nbsp; 4125 | 116246 |
| Boozt AB<sup>(a)(c)</sup> | &nbsp;&nbsp; 4262 | 43618 |
| Bravida Holding AB<sup>(c)</sup> | &nbsp;&nbsp; 14963 | 121113 |
| Bufab AB | &nbsp;&nbsp; 2026 | 84477 |
| Bure Equity AB | &nbsp;&nbsp; 4091 | 153267 |
| Calliditas Therapeutics AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 2683 | 51660 |
| Camurus AB<sup>(a)</sup> | &nbsp;&nbsp; 2379 | 150557 |
| Castellum AB<sup>(a)</sup> | &nbsp;&nbsp; 29128 | 364878 |
| Catena AB | &nbsp;&nbsp; 2882 | 146717 |
| Cibus Nordic Real Estate AB publ | &nbsp;&nbsp; 3717 | 58058 |
| Clas Ohlson AB, Class B | &nbsp;&nbsp; 2996 | 47594 |
| Cloetta AB, Class B | &nbsp;&nbsp; 14541 | 31202 |
| Coor Service Management Holding AB<sup>(c)</sup> | &nbsp;&nbsp; 7306 | 29465 |
| Corem Property Group AB, Class B | &nbsp;&nbsp; 44699 | 39917 |
| Creades AB, Class A | &nbsp;&nbsp; 3993 | 28976 |
| Dios Fastigheter AB | &nbsp;&nbsp; 7340 | 58916 |
| Dometic Group AB<sup>(c)</sup> | &nbsp;&nbsp; 22207 | 152363 |
| Electrolux AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 16349 | 145627 |
| Electrolux Professional AB, Class B | &nbsp;&nbsp; 17493 | 110113 |
| Elekta AB, Class B | &nbsp;&nbsp; 27243 | 171034 |
| Embracer Group AB, Class B<sup>(a)(b)</sup> | &nbsp;&nbsp; 56237 | 143894 |
| Engcon AB<sup>(b)</sup> | &nbsp;&nbsp; 2834 | 27681 |
| Fabege AB | &nbsp;&nbsp; 17102 | 143411 |
| Fortnox AB | &nbsp;&nbsp; 36616 | 226380 |
| Granges AB | &nbsp;&nbsp; 7396 | 90290 |
| Hemnet Group AB | &nbsp;&nbsp; 6653 | 245887 |
| Hexatronic Group AB<sup>(a)</sup> | &nbsp;&nbsp; 12005 | 70965 |
| Hexpol AB | &nbsp;&nbsp; 19810 | 221554 |
| HMS Networks AB | &nbsp;&nbsp; 2284 | 88856 |
| Hufvudstaden AB, Class A | &nbsp;&nbsp; 8177 | 99102 |
| Instalco AB | &nbsp;&nbsp; 15793 | 75225 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| Investment AB Oresund | &nbsp;&nbsp; 2068 | $24025 |
| INVISIO AB | &nbsp;&nbsp; 2705 | 63227 |
| Inwido AB | &nbsp;&nbsp; 3944 | 65091 |
| JM AB | &nbsp;&nbsp; 4461 | 86970 |
| Kindred Group PLC | &nbsp;&nbsp; 16263 | 192103 |
| Kinnevik AB | &nbsp;&nbsp; 18254 | 153051 |
| Lindab International AB | &nbsp;&nbsp; 5547 | 137237 |
| Loomis AB, Class B | &nbsp;&nbsp; 5354 | 170606 |
| Medicover AB, Class B | &nbsp;&nbsp; 4948 | 89277 |
| MEKO AB | &nbsp;&nbsp; 3109 | 32631 |
| Millicom International Cellular SA, SDR<sup>(a)</sup> | &nbsp;&nbsp; 9529 | 237221 |
| MIPS AB | &nbsp;&nbsp; 1994 | 99287 |
| Modern Times Group MTG AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 6392 | 49084 |
| Munters Group AB<sup>(c)</sup> | &nbsp;&nbsp; 9508 | 205848 |
| Mycronic AB | &nbsp;&nbsp; 5790 | 203033 |
| NCAB Group AB<sup>(b)</sup> | &nbsp;&nbsp; 12998 | 95087 |
| NCC AB, Class B | &nbsp;&nbsp; 6626 | 102304 |
| New Wave Group AB, Class B | &nbsp;&nbsp; 6633 | 70242 |
| Nolato AB, Class B | &nbsp;&nbsp; 14629 | 78559 |
| Nordnet AB publ | &nbsp;&nbsp; 10304 | 210510 |
| Norion Bank AB<sup>(a)</sup> | &nbsp;&nbsp; 4624 | 17522 |
| NP3 Fastigheter AB | &nbsp;&nbsp; 2146 | 51299 |
| Nyfosa AB | &nbsp;&nbsp; 10661 | 109109 |
| OX2 AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 10874 | 60231 |
| Pandox AB, Class B | &nbsp;&nbsp; 6821 | 126538 |
| Paradox Interactive AB | &nbsp;&nbsp; 2630 | 37697 |
| Peab AB, Class B | &nbsp;&nbsp; 12652 | 94363 |
| Platzer Fastigheter Holding AB, Class B | &nbsp;&nbsp; 4133 | 37806 |
| Ratos AB, Class B | &nbsp;&nbsp; 14688 | 47260 |
| Rusta AB<sup>(a)</sup> | &nbsp;&nbsp; 3872 | 26846 |
| Rvrc Holding AB | &nbsp;&nbsp; 3821 | 15776 |
| Samhallsbyggnadsbolaget i Norden AB | &nbsp;&nbsp; 73568 | 46637 |
| Scandic Hotels Group AB<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 10381 | 63180 |
| Sdiptech AB, Class B<sup>(a)</sup> | &nbsp;&nbsp; 2116 | 64797 |
| Sectra AB, Class B | &nbsp;&nbsp; 10177 | 231722 |
| Sinch AB<sup>(a)(c)</sup> | &nbsp;&nbsp; 49273 | 133551 |
| SkiStar AB | &nbsp;&nbsp; 2972 | 43766 |
| SSAB AB, Class A | &nbsp;&nbsp; 16800 | 86674 |
| SSAB AB, Class B | &nbsp;&nbsp; 48272 | 244677 |
| Stillfront Group AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 36304 | 30354 |
| Storskogen Group AB | &nbsp;&nbsp; 104903 | 85180 |
| Surgical Science Sweden AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 2523 | 30640 |
| Svolder AB | &nbsp;&nbsp; 6442 | 38291 |
| Sweco AB, Class B | &nbsp;&nbsp; 14958 | 241744 |
| SwedenCare AB | &nbsp;&nbsp; 4106 | 17763 |
| Synsam AB | &nbsp;&nbsp; 3940 | 18525 |
| Thule Group AB<sup>(c)</sup> | &nbsp;&nbsp; 7805 | 215788 |
| Troax Group AB | &nbsp;&nbsp; 2898 | 65828 |
| Truecaller AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 15797 | 50033 |
| VBG Group AB, Class B<sup>(b)</sup> | &nbsp;&nbsp; 1337 | 53269 |
| Vimian Group AB<sup>(a)(b)</sup> | &nbsp;&nbsp; 12770 | 40304 |
| Vitec Software Group AB, Class B | &nbsp;&nbsp; 2333 | 122046 |
| Vitrolife AB | &nbsp;&nbsp; 5518 | 118672 |
| Wallenstam AB, Class B | &nbsp;&nbsp; 26489 | 133615 |
| Wihlborgs Fastigheter AB | &nbsp;&nbsp; 20451 | 207149 |
| Xvivo Perfusion AB<sup>(a)</sup> | &nbsp;&nbsp; 1846 | 87501 |
| Yubico AB<sup>(a)</sup> | &nbsp;&nbsp; 3232 | 81697 |
|  |  | 11878103 |
| **Switzerland — 8.9%** | **Switzerland — 8.9%** | **Switzerland — 8.9%** |
| Accelleron Industries AG, NVS | &nbsp;&nbsp; 6985 | 345650 |
| Allreal Holding AG, Registered | &nbsp;&nbsp; 1104 | 196817 |
| ALSO Holding AG, Registered | &nbsp;&nbsp; 478 | 144925 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| ams-OSRAM AG<sup>(a)</sup> | &nbsp;&nbsp; 75267 | $101058 |
| Arbonia AG<sup>(a)</sup> | &nbsp;&nbsp; 3922 | 56747 |
| Aryzta AG<sup>(a)</sup> | &nbsp;&nbsp; 72541 | 138874 |
| Autoneum Holding AG | &nbsp;&nbsp; 241 | 37856 |
| Basilea Pharmaceutica AG, Registered<sup>(a)</sup> | &nbsp;&nbsp; 888 | 40214 |
| Belimo Holding AG, Registered | &nbsp;&nbsp; 727 | 440722 |
| Bell Food Group AG, Registered | &nbsp;&nbsp; 163 | 46147 |
| Bossard Holding AG, Class A, Registered | &nbsp;&nbsp; 413 | 105265 |
| Bucher Industries AG, Registered | &nbsp;&nbsp; 492 | 199323 |
| Burckhardt Compression Holding AG | &nbsp;&nbsp; 225 | 156769 |
| Burkhalter Holding AG | &nbsp;&nbsp; 509 | 51378 |
| Bystronic AG, Registered | &nbsp;&nbsp; 110 | 39569 |
| Cembra Money Bank AG | &nbsp;&nbsp; 2217 | 193593 |
| Comet Holding AG, Registered | &nbsp;&nbsp; 554 | 221977 |
| COSMO Pharmaceuticals NV | &nbsp;&nbsp; 630 | 53544 |
| Daetwyler Holding AG, Bearer | &nbsp;&nbsp; 565 | 117538 |
| DKSH Holding AG | &nbsp;&nbsp; 2644 | 207243 |
| DocMorris AG<sup>(a)</sup> | &nbsp;&nbsp; 861 | 43617 |
| dormakaba Holding AG | &nbsp;&nbsp; 232 | 140513 |
| Dottikon Es Holding AG<sup>(a)</sup> | &nbsp;&nbsp; 263 | 75674 |
| EFG International AG | &nbsp;&nbsp; 6948 | 99311 |
| Emmi AG, Registered | &nbsp;&nbsp; 158 | 166145 |
| Flughafen Zurich AG, Registered | &nbsp;&nbsp; 1475 | 341365 |
| Forbo Holding AG, Registered | &nbsp;&nbsp; 73 | 78633 |
| Galenica AG<sup>(c)</sup> | &nbsp;&nbsp; 3696 | 321471 |
| Georg Fischer AG | &nbsp;&nbsp; 5759 | 423148 |
| Huber + Suhner AG, Registered | &nbsp;&nbsp; 1080 | 94570 |
| Implenia AG, Registered | &nbsp;&nbsp; 901 | 32652 |
| Inficon Holding AG, Registered | &nbsp;&nbsp; 126 | 187875 |
| Interroll Holding AG, Registered | &nbsp;&nbsp; 50 | 161560 |
| Intershop Holding AG | &nbsp;&nbsp; 378 | 50441 |
| Kardex Holding AG, Registered | &nbsp;&nbsp; 460 | 140088 |
| Komax Holding AG, Registered<sup>(b)</sup> | &nbsp;&nbsp; 274 | 41643 |
| Landis+Gyr Group AG | &nbsp;&nbsp; 1844 | 167032 |
| LEM Holding SA, Registered | &nbsp;&nbsp; 35 | 51117 |
| Leonteq AG | &nbsp;&nbsp; 683 | 20659 |
| Medacta Group SA<sup>(c)</sup> | &nbsp;&nbsp; 515 | 73928 |
| Medmix AG<sup>(c)</sup> | &nbsp;&nbsp; 1833 | 25310 |
| Meier Tobler Group AG | &nbsp;&nbsp; 338 | 10854 |
| Metall Zug AG, Class B, Registered | &nbsp;&nbsp; 14 | 20336 |
| Mobilezone Holding AG, Registered | &nbsp;&nbsp; 2929 | 47764 |
| Mobimo Holding AG, Registered | &nbsp;&nbsp; 531 | 159039 |
| Montana Aerospace AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 1998 | 42512 |
| OC Oerlikon Corp. AG, Registered | &nbsp;&nbsp; 13940 | 78415 |
| Orior AG | &nbsp;&nbsp; 487 | 30811 |
| PolyPeptide Group AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 1074 | 35883 |
| PSP Swiss Property AG, Registered | &nbsp;&nbsp; 3390 | 453009 |
| Rieter Holding AG, Registered | &nbsp;&nbsp; 199 | 23561 |
| Schweiter Technologies AG, NVS | &nbsp;&nbsp; 73 | 34265 |
| Sensirion Holding AG<sup>(a)(b)(c)</sup> | &nbsp;&nbsp; 694 | 65105 |
| SFS Group AG | &nbsp;&nbsp; 1314 | 191893 |
| Siegfried Holding AG, Registered | &nbsp;&nbsp; 300 | 349666 |
| SKAN Group AG | &nbsp;&nbsp; 822 | 74263 |
| Softwareone Holding AG | &nbsp;&nbsp; 8722 | 174139 |
| Stadler Rail AG | &nbsp;&nbsp; 4052 | 124013 |
| Sulzer AG, Registered | &nbsp;&nbsp; 1397 | 207689 |
| Swissquote Group Holding SA, Registered | &nbsp;&nbsp; 805 | 256753 |
| Tecan Group AG, Registered | &nbsp;&nbsp; 947 | 353625 |
| TX Group AG | &nbsp;&nbsp; 193 | 35533 |
| u-blox Holding AG | &nbsp;&nbsp; 532 | 48670 |
| Untrade Real Gold Mining<sup>(d)</sup> | &nbsp;&nbsp; 27000 |  |
| Valiant Holding AG, Registered | &nbsp;&nbsp; 1175 | 133463 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Vetropack Holding AG, Class A, Registered | &nbsp;&nbsp; 934 | $35487 |
| Vontobel Holding AG, Registered | &nbsp;&nbsp; 2112 | 138383 |
| Ypsomed Holding AG, Registered | &nbsp;&nbsp; 303 | 139247 |
| Zehnder Group AG, Registered | &nbsp;&nbsp; 719 | 45286 |
|  |  | 8941625 |
| **United Kingdom — 32.1%** | **United Kingdom — 32.1%** | **United Kingdom — 32.1%** |
| 4imprint Group PLC | &nbsp;&nbsp; 2112 | 164915 |
| AB Dynamics PLC | &nbsp;&nbsp; 1224 | 30998 |
| abrdn PLC | &nbsp;&nbsp; 136055 | 297551 |
| Advanced Medical Solutions Group PLC | &nbsp;&nbsp; 15694 | 49632 |
| AG Barr PLC | &nbsp;&nbsp; 7379 | 61132 |
| Airtel Africa PLC<sup>(c)</sup> | &nbsp;&nbsp; 70267 | 103021 |
| AJ Bell PLC | &nbsp;&nbsp; 22734 | 134146 |
| Alfa Financial Software Holdings PLC<sup>(c)</sup> | &nbsp;&nbsp; 8600 | 20674 |
| Alpha Financial Markets Consulting PLC | &nbsp;&nbsp; 7968 | 51011 |
| Alpha Group International PLC | &nbsp;&nbsp; 2588 | 86169 |
| Alphawave IP Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 25457 | 50911 |
| AO World PLC<sup>(a)</sup> | &nbsp;&nbsp; 22707 | 34212 |
| Ascential PLC | &nbsp;&nbsp; 14956 | 109784 |
| Ashmore Group PLC | &nbsp;&nbsp; 34077 | 75621 |
| Ashtead Technology Holdings PLC | &nbsp;&nbsp; 5797 | 64761 |
| ASOS PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 3528 | 16418 |
| Assura PLC | &nbsp;&nbsp; 222389 | 116707 |
| Aston Martin Lagonda Global Holdings PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 14991 | 30054 |
| Atalaya Mining PLC | &nbsp;&nbsp; 7010 | 34244 |
| Auction Technology Group PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 7522 | 49122 |
| B&M European Value Retail SA | &nbsp;&nbsp; 74120 | 446349 |
| Babcock International Group PLC | &nbsp;&nbsp; 18645 | 127539 |
| Balanced Commercial Property Trust Ltd. | &nbsp;&nbsp; 52797 | 58778 |
| Balfour Beatty PLC | &nbsp;&nbsp; 39470 | 213720 |
| Bank of Georgia Group PLC | &nbsp;&nbsp; 2519 | 148090 |
| Beazley PLC | &nbsp;&nbsp; 49399 | 434193 |
| Bellway PLC | &nbsp;&nbsp; 8912 | 327230 |
| Big Yellow Group PLC | &nbsp;&nbsp; 13994 | 217626 |
| Bodycote PLC | &nbsp;&nbsp; 14166 | 126710 |
| boohoo Group PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 46726 | 19402 |
| Breedon Group PLC | &nbsp;&nbsp; 21868 | 121646 |
| Bridgepoint Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 17160 | 64686 |
| British Land Co. PLC (The) | &nbsp;&nbsp; 65127 | 345193 |
| Britvic PLC | &nbsp;&nbsp; 17518 | 286075 |
| Burford Capital Ltd. | &nbsp;&nbsp; 14524 | 204825 |
| Bytes Technology Group PLC | &nbsp;&nbsp; 17216 | 112165 |
| C&C Group PLC | &nbsp;&nbsp; 28322 | 58255 |
| Carnival PLC<sup>(a)</sup> | &nbsp;&nbsp; 10161 | 156120 |
| Centamin PLC | &nbsp;&nbsp; 87292 | 142573 |
| Central Asia Metals PLC | &nbsp;&nbsp; 12641 | 32144 |
| Chemring Group PLC | &nbsp;&nbsp; 20264 | 107849 |
| Clarkson PLC | &nbsp;&nbsp; 2155 | 125636 |
| Close Brothers Group PLC | &nbsp;&nbsp; 10847 | 71364 |
| CLS Holdings PLC | &nbsp;&nbsp; 12410 | 14625 |
| CMC Markets PLC<sup>(c)</sup> | &nbsp;&nbsp; 8400 | 36013 |
| Coats Group PLC | &nbsp;&nbsp; 118857 | 136753 |
| Computacenter PLC | &nbsp;&nbsp; 6383 | 221018 |
| ConvaTec Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 121205 | 365188 |
| Craneware PLC | &nbsp;&nbsp; 2147 | 63482 |
| Cranswick PLC | &nbsp;&nbsp; 4050 | 248089 |
| Crest Nicholson Holdings PLC | &nbsp;&nbsp; 17860 | 60883 |
| Currys PLC<sup>(a)</sup> | &nbsp;&nbsp; 69092 | 72256 |
| Custodian Property Income REIT PLC | &nbsp;&nbsp; 31127 | 30812 |
| CVS Group PLC | &nbsp;&nbsp; 5253 | 76984 |
| Darktrace PLC<sup>(a)</sup> | &nbsp;&nbsp; 31518 | 239699 |
| Deliveroo PLC, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 79356 | 134559 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Derwent London PLC | &nbsp;&nbsp; 7079 | $209127 |
| Diploma PLC | &nbsp;&nbsp; 9984 | 570837 |
| Direct Line Insurance Group PLC | &nbsp;&nbsp; 96929 | 235154 |
| DiscoverIE Group PLC | &nbsp;&nbsp; 7027 | 61160 |
| Diversified Energy Co. PLC | &nbsp;&nbsp; 3456 | 57096 |
| Domino's Pizza Group PLC | &nbsp;&nbsp; 27208 | 113134 |
| Dowlais Group PLC | &nbsp;&nbsp; 101943 | 83982 |
| Dr. Martens PLC | &nbsp;&nbsp; 43173 | 39472 |
| Drax Group PLC | &nbsp;&nbsp; 28414 | 237672 |
| DS Smith PLC | &nbsp;&nbsp; 101812 | 595198 |
| Dunelm Group PLC | &nbsp;&nbsp; 8882 | 140877 |
| easyJet PLC | &nbsp;&nbsp; 22489 | 130284 |
| Elementis PLC | &nbsp;&nbsp; 44458 | 91330 |
| Empiric Student Property PLC | &nbsp;&nbsp; 44308 | 54904 |
| Energean PLC | &nbsp;&nbsp; 11412 | 146560 |
| Essentra PLC | &nbsp;&nbsp; 21640 | 47571 |
| Evoke PLC<sup>(a)</sup> | &nbsp;&nbsp; 27849 | 21141 |
| FD Technologies PLC<sup>(a)</sup> | &nbsp;&nbsp; 1726 | 33860 |
| FDM Group Holdings PLC | &nbsp;&nbsp; 6839 | 37409 |
| Fevertree Drinks PLC | &nbsp;&nbsp; 7744 | 91838 |
| Finablr PLC<sup>(a)(c)(d)</sup> | &nbsp;&nbsp; 20497 |  |
| Firstgroup PLC | &nbsp;&nbsp; 46430 | 104693 |
| Forterra PLC<sup>(c)</sup> | &nbsp;&nbsp; 15237 | 34300 |
| Frasers Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 8225 | 94931 |
| Future PLC | &nbsp;&nbsp; 7664 | 110303 |
| Games Workshop Group PLC | &nbsp;&nbsp; 2435 | 322964 |
| Gamma Communications PLC | &nbsp;&nbsp; 6795 | 129807 |
| GB Group PLC | &nbsp;&nbsp; 18927 | 84723 |
| Genuit Group PLC | &nbsp;&nbsp; 18481 | 121446 |
| Genus PLC | &nbsp;&nbsp; 4927 | 115462 |
| Grafton Group PLC | &nbsp;&nbsp; 13258 | 184701 |
| Grainger PLC | &nbsp;&nbsp; 51625 | 160352 |
| Great Portland Estates PLC | &nbsp;&nbsp; 24449 | 110323 |
| Greatland Gold PLC<sup>(a)</sup> | &nbsp;&nbsp; 338844 | 30884 |
| Greencore Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 34519 | 79965 |
| Greggs PLC | &nbsp;&nbsp; 7558 | 304373 |
| Halfords Group PLC | &nbsp;&nbsp; 16324 | 32443 |
| Hammerson PLC | &nbsp;&nbsp; 318293 | 117926 |
| Harbour Energy PLC | &nbsp;&nbsp; 43329 | 174273 |
| Hays PLC | &nbsp;&nbsp; 118141 | 143178 |
| Helios Towers PLC<sup>(a)</sup> | &nbsp;&nbsp; 55177 | 89458 |
| Hill & Smith PLC | &nbsp;&nbsp; 5892 | 174168 |
| Hilton Food Group PLC | &nbsp;&nbsp; 5502 | 66063 |
| Hiscox Ltd. | &nbsp;&nbsp; 25607 | 418181 |
| Hochschild Mining PLC<sup>(a)</sup> | &nbsp;&nbsp; 25234 | 58890 |
| Hollywood Bowl Group PLC | &nbsp;&nbsp; 12500 | 53431 |
| Home REIT PLC<sup>(a)(d)</sup> | &nbsp;&nbsp; 61201 | 19459 |
| Howden Joinery Group PLC | &nbsp;&nbsp; 40616 | 491055 |
| Hunting PLC | &nbsp;&nbsp; 11165 | 65566 |
| Ibstock PLC<sup>(c)</sup> | &nbsp;&nbsp; 29660 | 70006 |
| IG Group Holdings PLC | &nbsp;&nbsp; 28056 | 338824 |
| IMI PLC | &nbsp;&nbsp; 19326 | 470722 |
| Impact Healthcare REIT PLC, Class B | &nbsp;&nbsp; 24117 | 27129 |
| Impax Asset Management Group PLC | &nbsp;&nbsp; 7077 | 36983 |
| Inchcape PLC | &nbsp;&nbsp; 27872 | 303120 |
| Indivior PLC, NVS<sup>(a)</sup> | &nbsp;&nbsp; 8582 | 117884 |
| IntegraFin Holdings PLC | &nbsp;&nbsp; 22380 | 110767 |
| Intermediate Capital Group PLC | &nbsp;&nbsp; 21622 | 610318 |
| International Distributions Services PLC<sup>(a)</sup> | &nbsp;&nbsp; 50356 | 223425 |
| International Workplace Group PLC | &nbsp;&nbsp; 56667 | 125818 |
| Investec PLC | &nbsp;&nbsp; 47686 | 377579 |
| IP Group PLC | &nbsp;&nbsp; 75242 | 40335 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| ITM Power PLC<sup>(a)(b)</sup> | &nbsp;&nbsp; 32430 | $21801 |
| ITV PLC | &nbsp;&nbsp; 267152 | 274845 |
| J D Wetherspoon PLC<sup>(a)</sup> | &nbsp;&nbsp; 6299 | 60449 |
| JET2 PLC | &nbsp;&nbsp; 12673 | 232648 |
| John Wood Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 48460 | 127087 |
| Johnson Matthey PLC | &nbsp;&nbsp; 13773 | 290199 |
| Johnson Service Group PLC | &nbsp;&nbsp; 30100 | 62996 |
| JTC PLC<sup>(c)</sup> | &nbsp;&nbsp; 11816 | 159720 |
| Judges Scientific PLC | &nbsp;&nbsp; 449 | 57144 |
| Jupiter Fund Management PLC | &nbsp;&nbsp; 31345 | 35443 |
| Just Group PLC | &nbsp;&nbsp; 76909 | 119358 |
| Kainos Group PLC | &nbsp;&nbsp; 6419 | 90606 |
| Keller Group PLC | &nbsp;&nbsp; 5432 | 104048 |
| Keywords Studios PLC | &nbsp;&nbsp; 5968 | 183211 |
| Kier Group PLC | &nbsp;&nbsp; 32228 | 67075 |
| Lancashire Holdings Ltd. | &nbsp;&nbsp; 18270 | 148908 |
| Learning Technologies Group PLC | &nbsp;&nbsp; 44067 | 40788 |
| Liontrust Asset Management PLC | &nbsp;&nbsp; 4781 | 41003 |
| LondonMetric Property PLC | &nbsp;&nbsp; 150825 | 389954 |
| Man Group PLC/Jersey | &nbsp;&nbsp; 88775 | 279489 |
| Marks & Spencer Group PLC | &nbsp;&nbsp; 150809 | 636949 |
| Marlowe PLC | &nbsp;&nbsp; 6010 | 33995 |
| Marshalls PLC | &nbsp;&nbsp; 16571 | 74134 |
| Me Group International PLC | &nbsp;&nbsp; 15717 | 39036 |
| Mitchells & Butlers PLC<sup>(a)</sup> | &nbsp;&nbsp; 19724 | 79013 |
| Mitie Group PLC | &nbsp;&nbsp; 94718 | 147579 |
| Mobico Group PLC | &nbsp;&nbsp; 36928 | 26752 |
| Molten Ventures PLC<sup>(a)</sup> | &nbsp;&nbsp; 12385 | 59525 |
| MONY Group PLC | &nbsp;&nbsp; 36270 | 110719 |
| Moonpig Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 24178 | 67926 |
| Morgan Advanced Materials PLC | &nbsp;&nbsp; 21393 | 93735 |
| Morgan Sindall Group PLC | &nbsp;&nbsp; 3307 | 122149 |
| NCC Group PLC | &nbsp;&nbsp; 21457 | 40708 |
| Network International Holdings PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 35204 | 177406 |
| Next 15 Group PLC | &nbsp;&nbsp; 6300 | 69084 |
| Ninety One PLC | &nbsp;&nbsp; 21767 | 48476 |
| Ocado Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 39633 | 207248 |
| OSB Group PLC | &nbsp;&nbsp; 28875 | 191051 |
| Oxford Instruments PLC | &nbsp;&nbsp; 3853 | 124326 |
| Oxford Nanopore Technologies PLC<sup>(a)</sup> | &nbsp;&nbsp; 42469 | 65952 |
| Pagegroup PLC | &nbsp;&nbsp; 23431 | 129087 |
| Pan African Resources PLC | &nbsp;&nbsp; 138213 | 52416 |
| Paragon Banking Group PLC | &nbsp;&nbsp; 15929 | 164599 |
| Penno Group PLC | &nbsp;&nbsp; 21255 | 169931 |
| Pets at Home Group PLC | &nbsp;&nbsp; 33117 | 130616 |
| Picton Property Income Ltd. | &nbsp;&nbsp; 38544 | 36365 |
| Playtech PLC<sup>(a)</sup> | &nbsp;&nbsp; 18040 | 131031 |
| Plus500 Ltd. | &nbsp;&nbsp; 5740 | 173113 |
| Polar Capital Holdings PLC | &nbsp;&nbsp; 7012 | 54363 |
| Premier Foods PLC | &nbsp;&nbsp; 48547 | 112337 |
| Primary Health Properties PLC | &nbsp;&nbsp; 98035 | 116776 |
| PRS REIT PLC (The) | &nbsp;&nbsp; 38489 | 40573 |
| PZ Cussons PLC | &nbsp;&nbsp; 16581 | 22541 |
| QinetiQ Group PLC | &nbsp;&nbsp; 38024 | 236219 |
| Quilter PLC<sup>(c)</sup> | &nbsp;&nbsp; 103028 | 177083 |
| Rank Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 17251 | 15746 |
| Rathbones Group PLC | &nbsp;&nbsp; 4634 | 114720 |
| Redrow PLC | &nbsp;&nbsp; 19429 | 186392 |
| Renew Holdings PLC | &nbsp;&nbsp; 5814 | 81426 |
| Renewi PLC | &nbsp;&nbsp; 5323 | 46189 |
| Renishaw PLC | &nbsp;&nbsp; 2691 | 131008 |
| RHI Magnesita NV | &nbsp;&nbsp; 1406 | 66356 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Small-Cap ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Rightmove PLC | &nbsp;&nbsp; 58841 | $437180 |
| Rotork PLC | &nbsp;&nbsp; 63508 | 295571 |
| RS Group PLC | &nbsp;&nbsp; 35036 | 368082 |
| RWS Holdings PLC | &nbsp;&nbsp; 21488 | 52684 |
| Safestore Holdings PLC | &nbsp;&nbsp; 16116 | 167468 |
| Savills PLC | &nbsp;&nbsp; 10838 | 177782 |
| Serco Group PLC | &nbsp;&nbsp; 81452 | 200147 |
| Serica Energy PLC | &nbsp;&nbsp; 20671 | 35108 |
| Shaftesbury Capital PLC | &nbsp;&nbsp; 117300 | 229661 |
| SIG PLC<sup>(a)</sup> | &nbsp;&nbsp; 55139 | 17367 |
| Sirius Real Estate Ltd. | &nbsp;&nbsp; 110862 | 135152 |
| Softcat PLC | &nbsp;&nbsp; 9738 | 203728 |
| Spectris PLC | &nbsp;&nbsp; 7440 | 291851 |
| Spire Healthcare Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 20652 | 67999 |
| Spirent Communications PLC | &nbsp;&nbsp; 42487 | 94900 |
| SSP Group PLC | &nbsp;&nbsp; 58751 | 138166 |
| St. James's Place PLC | &nbsp;&nbsp; 41099 | 362031 |
| SThree PLC | &nbsp;&nbsp; 9996 | 52760 |
| Supermarket Income REIT PLC | &nbsp;&nbsp; 91020 | 87665 |
| Target Healthcare REIT PLC | &nbsp;&nbsp; 45510 | 47711 |
| Tate & Lyle PLC | &nbsp;&nbsp; 29691 | 250963 |
| TBC Bank Group PLC | &nbsp;&nbsp; 3033 | 120871 |
| Team17 Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 8331 | 31059 |
| Telecom Plus PLC | &nbsp;&nbsp; 5248 | 128248 |
| THG PLC, Class B<sup>(a)</sup> | &nbsp;&nbsp; 54917 | 47000 |
| TI Fluid Systems PLC<sup>(c)</sup> | &nbsp;&nbsp; 28700 | 48604 |
| TP ICAP Group PLC | &nbsp;&nbsp; 56756 | 161612 |
| Trainline PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 33064 | 144774 |
| Travis Perkins PLC | &nbsp;&nbsp; 15843 | 194678 |
| Tritax Big Box REIT PLC | &nbsp;&nbsp; 165019 | 350760 |
| Trustpilot Group PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 26419 | 70813 |
| Tullow Oil PLC<sup>(a)</sup> | &nbsp;&nbsp; 90398 | 35584 |
| UNITE Group PLC (The) | &nbsp;&nbsp; 28733 | 352187 |
| Urban Logistics REIT PLC | &nbsp;&nbsp; 34068 | 54460 |
| Vesuvius PLC | &nbsp;&nbsp; 16142 | 100144 |
| Victrex PLC | &nbsp;&nbsp; 6094 | 86176 |
| Virgin Money U.K. PLC | &nbsp;&nbsp; 82659 | 228588 |
| Vistry Group PLC<sup>(a)</sup> | &nbsp;&nbsp; 23929 | 426207 |
| Volex PLC | &nbsp;&nbsp; 9577 | 43677 |
| Volution Group PLC | &nbsp;&nbsp; 14386 | 101314 |
| Warehouse REIT PLC | &nbsp;&nbsp; 31588 | 34846 |
| Watches of Switzerland Group PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 17422 | 91364 |
| Weir Group PLC (The) | &nbsp;&nbsp; 19189 | 500925 |
| WH Smith PLC | &nbsp;&nbsp; 9677 | 164654 |
| Wickes Group PLC | &nbsp;&nbsp; 19614 | 38074 |
| Workspace Group PLC | &nbsp;&nbsp; 10552 | 83190 |
| Yellow Cake PLC<sup>(a)(c)</sup> | &nbsp;&nbsp; 16346 | 116981 |
| YouGov PLC | &nbsp;&nbsp; 7910 | 46979 |
| Young & Co's Brewery PLC, Series A, Class A | &nbsp;&nbsp; 1712 | 21965 |
| Zigup PLC | &nbsp;&nbsp; 16512 | 90135 |
|  |  | 32195713 |
| **Total Common Stocks — 98.6%** <br>**(Cost: $125,338,513)** | **Total Common Stocks — 98.6%** <br>**(Cost: $125,338,513)** | 98848018 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.5%** | **Germany — 0.5%** | **Germany — 0.5%** |
| Draegerwerk AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 631 | 33184 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Einhell Germany AG, Preference Shares, NVS | &nbsp;&nbsp; 136 | $26199 |
| Fuchs Petrolub SE, Preference Shares, NVS | &nbsp;&nbsp; 5137 | 223209 |
| Jungheinrich AG, Preference Shares, NVS | &nbsp;&nbsp; 3614 | 114401 |
| Schaeffler AG, Preference Shares, NVS | &nbsp;&nbsp; 9525 | 52168 |
| Sixt SE, Preference Shares, NVS | &nbsp;&nbsp; 1226 | 67984 |
| STO SE & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 197 | 26369 |
|  |  | 543514 |
| **Italy — 0.1%** | **Italy — 0.1%** | **Italy — 0.1%** |
| Danieli & C Officine Meccaniche SpA, Preference <br> Shares, NVS<br>| &nbsp;&nbsp; 2788 | 80374 |
| **Total Preferred Stocks — 0.6%** <br>**(Cost: $731,081)** | **Total Preferred Stocks — 0.6%** <br>**(Cost: $731,081)** | 623888 |
| **Warrants** | **Warrants** | **Warrants** |
| **Italy — 0.0%** | **Italy — 0.0%** | **Italy — 0.0%** |
| Webuild SpA (Issued/Exercisable 08/02/21, 1 Share for <br> 1 Warrant, Expires 08/31/30, Strike Price EUR <br> 0.001)<sup>(b)</sup><br>| &nbsp;&nbsp; 5910 |  |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** |  |
| **Total Long-Term Investments — 99.2%** <br>**(Cost: $126,069,594)** | **Total Long-Term Investments — 99.2%** <br>**(Cost: $126,069,594)** | 99471906 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 3.5%** | **Money Market Funds — 3.5%** | **Money Market Funds — 3.5%** |
| BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 5.45%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp; 3438859 | 3440235 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(f)(g)</sup><br>| &nbsp;&nbsp; 30000 | 30000 |
| **Total Short-Term Securities — 3.5%** <br>**(Cost: $3,469,197)** | **Total Short-Term Securities — 3.5%** <br>**(Cost: $3,469,197)** | 3470235 |
| **Total Investments — 102.7%** <br>**(Cost: $129,538,791)** | **Total Investments — 102.7%** <br>**(Cost: $129,538,791)** | 102942141 |
| **Liabilities in Excess of Other Assets — (2.7)%** | **Liabilities in Excess of Other Assets — (2.7)%** | (2717477)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $100224664 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(f)</sup> Affiliate of the Fund.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Small-Cap ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $6088328 | $—<br> $(2648385 )<sup>(a)</sup><br>| &nbsp;&nbsp; $354 | $(62)<br>| $3440235 | 3438859 | $100547 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| 40000 | —<br> (10000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 30000 | 30000 | 3674 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $354 | $(62)<br>| $3470235 |  | $104221 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Euro STOXX 50 Index | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $424 | &nbsp;&nbsp; $(1632)<br>|
| FTSE 100 Index | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 323 | &nbsp;&nbsp; 6537 |
|  |  |  |  | &nbsp;&nbsp; $4905 |

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6537 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6537 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1632 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1632 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $90801 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $90801 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(22760)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(22760)<br>|

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Europe Small-Cap ETF**

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $1056232 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $15773369 | &nbsp;&nbsp; $83055190 | &nbsp;&nbsp; $19459 | &nbsp;&nbsp; $98848018 |
| Preferred Stocks | &nbsp;&nbsp; 26199 | &nbsp;&nbsp; 597689 | &nbsp;&nbsp; — | &nbsp;&nbsp; 623888 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 3470235 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 3470235 |
|  | &nbsp;&nbsp; $19269803 | &nbsp;&nbsp; $83652879 | &nbsp;&nbsp; $19459 | &nbsp;&nbsp; $102942141 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6537 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6537 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (1632)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1632)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4905 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4905 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

Schedule of Investments

------

Schedule of Investments

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 2.0%** | **Australia — 2.0%** | **Australia — 2.0%** |
| Ampol Ltd. | &nbsp;&nbsp; 1107 | $24249 |
| ANZ Group Holdings Ltd. | &nbsp;&nbsp; 12435 | 236576 |
| APA Group | &nbsp;&nbsp; 5370 | 27834 |
| Aristocrat Leisure Ltd. | &nbsp;&nbsp; 2453 | 87361 |
| ASX Ltd. | &nbsp;&nbsp; 735 | 31316 |
| Aurizon Holdings Ltd. | &nbsp;&nbsp; 6162 | 15025 |
| BHP Group Ltd. | &nbsp;&nbsp; 21027 | 584024 |
| BlueScope Steel Ltd. | &nbsp;&nbsp; 2174 | 31569 |
| Brambles Ltd. | &nbsp;&nbsp; 6305 | 64277 |
| CAR Group Ltd. | &nbsp;&nbsp; 1476 | 33757 |
| Cochlear Ltd. | &nbsp;&nbsp; 290 | 65527 |
| Coles Group Ltd. | &nbsp;&nbsp; 5880 | 69688 |
| Commonwealth Bank of Australia | &nbsp;&nbsp; 6862 | 618336 |
| Computershare Ltd. | &nbsp;&nbsp; 2220 | 40040 |
| CSL Ltd. | &nbsp;&nbsp; 1991 | 404099 |
| Dexus | &nbsp;&nbsp; 4349 | 20051 |
| Endeavour Group Ltd./Australia | &nbsp;&nbsp; 5138 | 18480 |
| Fortescue Ltd. | &nbsp;&nbsp; 7172 | 89240 |
| Goodman Group | &nbsp;&nbsp; 7243 | 167213 |
| GPT Group (The) | &nbsp;&nbsp; 7869 | 23969 |
| Insurance Australia Group Ltd. | &nbsp;&nbsp; 8937 | 43236 |
| James Hardie Industries PLC<sup>(a)</sup> | &nbsp;&nbsp; 1804 | 64806 |
| Lottery Corp. Ltd. (The) | &nbsp;&nbsp; 8588 | 27985 |
| Macquarie Group Ltd. | &nbsp;&nbsp; 1484 | 204236 |
| Medibank Pvt Ltd. | &nbsp;&nbsp; 11434 | 29767 |
| Mineral Resources Ltd. | &nbsp;&nbsp; 683 | 24426 |
| Mirvac Group | &nbsp;&nbsp; 17915 | 25224 |
| National Australia Bank Ltd. | &nbsp;&nbsp; 12909 | 326038 |
| Northern Star Resources Ltd. | &nbsp;&nbsp; 4488 | 41654 |
| Orica Ltd. | &nbsp;&nbsp; 1617 | 19027 |
| Origin Energy Ltd. | &nbsp;&nbsp; 7311 | 50164 |
| Pilbara Minerals Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 10344 | 19994 |
| Pro Medicus Ltd. | &nbsp;&nbsp; 238 | 22455 |
| Qantas Airways Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 3056 | 12947 |
| QBE Insurance Group Ltd. | &nbsp;&nbsp; 6359 | 75049 |
| Ramsay Health Care Ltd. | &nbsp;&nbsp; 735 | 22383 |
| REA Group Ltd. | &nbsp;&nbsp; 260 | 34957 |
| Reece Ltd. | &nbsp;&nbsp; 1199 | 21728 |
| Rio Tinto Ltd. | &nbsp;&nbsp; 1609 | 123639 |
| Santos Ltd. | &nbsp;&nbsp; 13052 | 68039 |
| Scentre Group | &nbsp;&nbsp; 23177 | 52853 |
| SEEK Ltd. | &nbsp;&nbsp; 1292 | 18710 |
| Seven Group Holdings Ltd. | &nbsp;&nbsp; 672 | 17241 |
| Sonic Healthcare Ltd. | &nbsp;&nbsp; 1757 | 31842 |
| South32 Ltd. | &nbsp;&nbsp; 20044 | 40202 |
| Stockland | &nbsp;&nbsp; 10412 | 31449 |
| Suncorp Group Ltd. | &nbsp;&nbsp; 5092 | 59246 |
| Telstra Group Ltd. | &nbsp;&nbsp; 17637 | 45579 |
| Transurban Group | &nbsp;&nbsp; 12903 | 110112 |
| Treasury Wine Estates Ltd. | &nbsp;&nbsp; 3171 | 25636 |
| Vicinity Ltd. | &nbsp;&nbsp; 13655 | 18934 |
| Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp; 874 | 20343 |
| Wesfarmers Ltd. | &nbsp;&nbsp; 4627 | 223309 |
| Westpac Banking Corp. | &nbsp;&nbsp; 14366 | 280752 |
| WiseTech Global Ltd. | &nbsp;&nbsp; 765 | 47936 |
| Woodside Energy Group Ltd. | &nbsp;&nbsp; 7688 | 139420 |
| Woolworths Group Ltd. | &nbsp;&nbsp; 5040 | 113718 |
| Xero Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 615 | 56037 |
|  |  | 5243704 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Austria — 0.1%** | **Austria — 0.1%** | **Austria — 0.1%** |
| Erste Group Bank AG | &nbsp;&nbsp; 1478 | $76880 |
| OMV AG | &nbsp;&nbsp; 642 | 26861 |
| Verbund AG | &nbsp;&nbsp; 283 | 22724 |
| voestalpine AG | &nbsp;&nbsp; 503 | 12900 |
|  |  | 139365 |
| **Belgium — 0.3%** | **Belgium — 0.3%** | **Belgium — 0.3%** |
| Ageas SA/NV | &nbsp;&nbsp; 550 | 26258 |
| Anheuser-Busch InBev SA/NV | &nbsp;&nbsp; 3730 | 221466 |
| Argenx SE<sup>(a)</sup> | &nbsp;&nbsp; 243 | 124242 |
| D'ieteren Group | &nbsp;&nbsp; 100 | 22982 |
| Elia Group SA/NV | &nbsp;&nbsp; 145 | 15060 |
| Groupe Bruxelles Lambert NV | &nbsp;&nbsp; 457 | 34105 |
| KBC Group NV | &nbsp;&nbsp; 1014 | 78429 |
| Lotus Bakeries NV | &nbsp;&nbsp; 2 | 21732 |
| Sofina SA | &nbsp;&nbsp; 94 | 22210 |
| Syensqo SA | &nbsp;&nbsp; 329 | 29093 |
| UCB SA | &nbsp;&nbsp; 504 | 84215 |
| Umicore SA | &nbsp;&nbsp; 828 | 11372 |
| Warehouses De Pauw CVA | &nbsp;&nbsp; 611 | 16551 |
|  |  | 707715 |
| **Canada — 3.2%** | **Canada — 3.2%** | **Canada — 3.2%** |
| Agnico Eagle Mines Ltd. | &nbsp;&nbsp; 2004 | 154627 |
| Air Canada<sup>(a)(b)</sup> | &nbsp;&nbsp; 549 | 6326 |
| Alimentation Couche-Tard Inc. | &nbsp;&nbsp; 3170 | 195414 |
| AltaGas Ltd. | &nbsp;&nbsp; 1420 | 33858 |
| ARC Resources Ltd. | &nbsp;&nbsp; 2795 | 48363 |
| Bank of Montreal | &nbsp;&nbsp; 3015 | 254298 |
| Bank of Nova Scotia (The) | &nbsp;&nbsp; 5083 | 237353 |
| Barrick Gold Corp. | &nbsp;&nbsp; 7030 | 130248 |
| BCE Inc. | &nbsp;&nbsp; 283 | 9546 |
| Brookfield Asset Management Ltd. | &nbsp;&nbsp; 1431 | 62458 |
| Brookfield Corp., Class A | &nbsp;&nbsp; 5741 | 279971 |
| Brookfield Renewable Corp., Class A | &nbsp;&nbsp; 503 | 14139 |
| BRP Inc. | &nbsp;&nbsp; 153 | 11085 |
| CAE Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1176 | 21397 |
| Cameco Corp. | &nbsp;&nbsp; 1895 | 86251 |
| Canadian Apartment Properties REIT | &nbsp;&nbsp; 329 | 11438 |
| Canadian Imperial Bank of Commerce | &nbsp;&nbsp; 3903 | 201843 |
| Canadian National Railway Co. | &nbsp;&nbsp; 2278 | 263711 |
| Canadian Natural Resources Ltd. | &nbsp;&nbsp; 9032 | 320681 |
| Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp; 3841 | 322103 |
| Canadian Tire Corp. Ltd., Class A, NVS | &nbsp;&nbsp; 172 | 17663 |
| Canadian Utilities Ltd., Class A, NVS | &nbsp;&nbsp; 549 | 12856 |
| CCL Industries Inc., Class B, NVS | &nbsp;&nbsp; 596 | 32424 |
| Cenovus Energy Inc. | &nbsp;&nbsp; 5893 | 118744 |
| CGI Inc.<sup>(a)</sup> | &nbsp;&nbsp; 846 | 96466 |
| Constellation Software Inc./Canada | &nbsp;&nbsp; 83 | 261885 |
| Descartes Systems Group Inc. (The)<sup>(a)</sup> | &nbsp;&nbsp; 343 | 34885 |
| Dollarama Inc. | &nbsp;&nbsp; 1185 | 111089 |
| Element Fleet Management Corp. | &nbsp;&nbsp; 1600 | 30606 |
| Emera Inc. | &nbsp;&nbsp; 1293 | 46676 |
| Empire Co. Ltd., NVS | &nbsp;&nbsp; 596 | 15756 |
| Enbridge Inc. | &nbsp;&nbsp; 8696 | 325443 |
| Fairfax Financial Holdings Ltd. | &nbsp;&nbsp; 87 | 102601 |
| First Quantum Minerals Ltd. | &nbsp;&nbsp; 3316 | 40590 |
| FirstService Corp. | &nbsp;&nbsp; 189 | 32954 |
| Fortis Inc./Canada | &nbsp;&nbsp; 2149 | 89842 |
| Franco-Nevada Corp. | &nbsp;&nbsp; 781 | 100645 |
| George Weston Ltd. | &nbsp;&nbsp; 249 | 38562 |
| GFL Environmental Inc. | &nbsp;&nbsp; 960 | 37249 |
| Gildan Activewear Inc. | &nbsp;&nbsp; 542 | 22070 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| Great-West Lifeco Inc. | &nbsp;&nbsp; 1200 | $36044 |
| Hydro One Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 1339 | 41965 |
| iA Financial Corp. Inc. | &nbsp;&nbsp; 457 | 30902 |
| IGM Financial Inc. | &nbsp;&nbsp; 336 | 9520 |
| Imperial Oil Ltd. | &nbsp;&nbsp; 755 | 54088 |
| Intact Financial Corp. | &nbsp;&nbsp; 735 | 133569 |
| Ivanhoe Mines Ltd., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 2453 | 32069 |
| Keyera Corp. | &nbsp;&nbsp; 828 | 23359 |
| Kinross Gold Corp. | &nbsp;&nbsp; 4767 | 43332 |
| Loblaw Companies Ltd. | &nbsp;&nbsp; 612 | 75467 |
| Lundin Mining Corp. | &nbsp;&nbsp; 2685 | 27110 |
| Magna International Inc. | &nbsp;&nbsp; 1154 | 51212 |
| Manulife Financial Corp. | &nbsp;&nbsp; 7246 | 193031 |
| MEG Energy Corp.<sup>(a)</sup> | &nbsp;&nbsp; 1179 | 24431 |
| Metro Inc./CN | &nbsp;&nbsp; 906 | 53954 |
| National Bank of Canada | &nbsp;&nbsp; 1385 | 115844 |
| Northland Power Inc. | &nbsp;&nbsp; 781 | 13061 |
| Nutrien Ltd. | &nbsp;&nbsp; 1975 | 101293 |
| Onex Corp. | &nbsp;&nbsp; 330 | 22613 |
| Open Text Corp. | &nbsp;&nbsp; 1060 | 33413 |
| Pan American Silver Corp. | &nbsp;&nbsp; 1483 | 34093 |
| Parkland Corp. | &nbsp;&nbsp; 596 | 16719 |
| Pembina Pipeline Corp. | &nbsp;&nbsp; 2397 | 92901 |
| Power Corp. of Canada | &nbsp;&nbsp; 2406 | 69637 |
| Quebecor Inc., Class B | &nbsp;&nbsp; 549 | 12128 |
| RB Global Inc. | &nbsp;&nbsp; 735 | 58554 |
| Restaurant Brands International Inc. | &nbsp;&nbsp; 1280 | 89623 |
| RioCan REIT | &nbsp;&nbsp; 596 | 7718 |
| Rogers Communications Inc., Class B, NVS | &nbsp;&nbsp; 1554 | 60093 |
| Royal Bank of Canada | &nbsp;&nbsp; 5829 | 651358 |
| Saputo Inc. | &nbsp;&nbsp; 1200 | 27578 |
| Shopify Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 5014 | 307090 |
| Stantec Inc. | &nbsp;&nbsp; 450 | 39594 |
| Sun Life Financial Inc. | &nbsp;&nbsp; 2520 | 125101 |
| Suncor Energy Inc. | &nbsp;&nbsp; 5358 | 213986 |
| TC Energy Corp. | &nbsp;&nbsp; 4216 | 179004 |
| Teck Resources Ltd., Class B | &nbsp;&nbsp; 1935 | 94854 |
| TELUS Corp. | &nbsp;&nbsp; 1803 | 29109 |
| TFI International Inc. | &nbsp;&nbsp; 330 | 51367 |
| Thomson Reuters Corp. | &nbsp;&nbsp; 643 | 104205 |
| TMX Group Ltd. | &nbsp;&nbsp; 1192 | 36227 |
| Toromont Industries Ltd. | &nbsp;&nbsp; 330 | 30690 |
| Toronto-Dominion Bank (The) | &nbsp;&nbsp; 7290 | 430488 |
| Tourmaline Oil Corp. | &nbsp;&nbsp; 1246 | 54825 |
| West Fraser Timber Co. Ltd. | &nbsp;&nbsp; 244 | 21637 |
| Wheaton Precious Metals Corp. | &nbsp;&nbsp; 1927 | 115217 |
| WSP Global Inc. | &nbsp;&nbsp; 535 | 88869 |
|  |  | 8393058 |
| **Denmark — 1.0%** | **Denmark — 1.0%** | **Denmark — 1.0%** |
| AP Moller - Maersk A/S, Class A | &nbsp;&nbsp; 11 | 17869 |
| AP Moller - Maersk A/S, Class B, NVS | &nbsp;&nbsp; 20 | 33087 |
| Carlsberg A/S, Class B | &nbsp;&nbsp; 423 | 51080 |
| Coloplast A/S, Class B | &nbsp;&nbsp; 531 | 69030 |
| Danske Bank A/S | &nbsp;&nbsp; 2871 | 87802 |
| Demant A/S<sup>(a)</sup> | &nbsp;&nbsp; 457 | 17521 |
| DSV A/S | &nbsp;&nbsp; 706 | 129512 |
| Genmab A/S<sup>(a)</sup> | &nbsp;&nbsp; 283 | 79939 |
| Novo Nordisk A/S, Class B | &nbsp;&nbsp; 13454 | 1782559 |
| Novonesis (Novozymes) B, Class B | &nbsp;&nbsp; 1588 | 101088 |
| Orsted A/S<sup>(a)(c)</sup> | &nbsp;&nbsp; 752 | 44822 |
| Pandora A/S | &nbsp;&nbsp; 334 | 52355 |
| Rockwool A/S, Class B | &nbsp;&nbsp; 48 | 21217 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| Tryg A/S | &nbsp;&nbsp; 1618 | $35425 |
| Vestas Wind Systems A/S<sup>(a)</sup> | &nbsp;&nbsp; 3978 | 98444 |
|  |  | 2621750 |
| **Finland — 0.3%** | **Finland — 0.3%** | **Finland — 0.3%** |
| Elisa OYJ | &nbsp;&nbsp; 642 | 29893 |
| Fortum OYJ | &nbsp;&nbsp; 1895 | 29139 |
| Kesko OYJ, Class B | &nbsp;&nbsp; 1107 | 20024 |
| Kone OYJ, Class B | &nbsp;&nbsp; 1338 | 68324 |
| Metso OYJ | &nbsp;&nbsp; 2701 | 27444 |
| Neste OYJ | &nbsp;&nbsp; 1710 | 34513 |
| Nokia OYJ | &nbsp;&nbsp; 21295 | 83687 |
| Nordea Bank Abp | &nbsp;&nbsp; 13068 | 152918 |
| Orion OYJ, Class B | &nbsp;&nbsp; 410 | 18845 |
| Sampo OYJ, Class A | &nbsp;&nbsp; 1891 | 82892 |
| Stora Enso OYJ, Class R | &nbsp;&nbsp; 2174 | 27177 |
| UPM-Kymmene OYJ | &nbsp;&nbsp; 2257 | 74653 |
| Wartsila OYJ Abp | &nbsp;&nbsp; 1756 | 36288 |
|  |  | 685797 |
| **France — 3.0%** | **France — 3.0%** | **France — 3.0%** |
| Accor SA | &nbsp;&nbsp; 782 | 30094 |
| Aeroports de Paris SA | &nbsp;&nbsp; 141 | 18525 |
| Air Liquide SA | &nbsp;&nbsp; 2384 | 434981 |
| Airbus SE | &nbsp;&nbsp; 2481 | 375441 |
| Alstom SA<sup>(a)</sup> | &nbsp;&nbsp; 1234 | 24177 |
| Amundi SA<sup>(c)</sup> | &nbsp;&nbsp; 282 | 20581 |
| ArcelorMittal SA | &nbsp;&nbsp; 2126 | 48410 |
| Arkema SA | &nbsp;&nbsp; 282 | 25448 |
| AXA SA | &nbsp;&nbsp; 7388 | 259391 |
| BioMerieux | &nbsp;&nbsp; 188 | 19839 |
| BNP Paribas SA | &nbsp;&nbsp; 4281 | 293307 |
| Bollore SE | &nbsp;&nbsp; 3432 | 21364 |
| Bouygues SA | &nbsp;&nbsp; 875 | 30210 |
| Bureau Veritas SA | &nbsp;&nbsp; 1390 | 43492 |
| Capgemini SE | &nbsp;&nbsp; 635 | 126062 |
| Carrefour SA | &nbsp;&nbsp; 2360 | 35205 |
| Cie. de Saint-Gobain SA | &nbsp;&nbsp; 1817 | 155873 |
| Cie. Generale des Etablissements Michelin SCA | &nbsp;&nbsp; 2780 | 110057 |
| Covivio SA/France | &nbsp;&nbsp; 236 | 12149 |
| Credit Agricole SA | &nbsp;&nbsp; 4679 | 71006 |
| Danone SA | &nbsp;&nbsp; 2688 | 174626 |
| Dassault Aviation SA | &nbsp;&nbsp; 95 | 19127 |
| Dassault Systemes SE | &nbsp;&nbsp; 2777 | 105273 |
| Edenred SE | &nbsp;&nbsp; 967 | 40265 |
| Eiffage SA | &nbsp;&nbsp; 329 | 32743 |
| Engie SA | &nbsp;&nbsp; 7954 | 125038 |
| EssilorLuxottica SA | &nbsp;&nbsp; 1196 | 273692 |
| Eurazeo SE | &nbsp;&nbsp; 188 | 14791 |
| Eurofins Scientific SE | &nbsp;&nbsp; 504 | 29839 |
| Euronext NV<sup>(c)</sup> | &nbsp;&nbsp; 363 | 36700 |
| Gecina SA | &nbsp;&nbsp; 208 | 20621 |
| Getlink SE | &nbsp;&nbsp; 1417 | 25251 |
| Hermes International SCA | &nbsp;&nbsp; 131 | 286279 |
| Ipsen SA | &nbsp;&nbsp; 141 | 15831 |
| Kering SA | &nbsp;&nbsp; 299 | 91834 |
| Klepierre SA | &nbsp;&nbsp; 874 | 25027 |
| La Francaise des Jeux SAEM<sup>(c)</sup> | &nbsp;&nbsp; 363 | 14084 |
| Legrand SA | &nbsp;&nbsp; 1047 | 113125 |
| L'Oreal SA | &nbsp;&nbsp; 988 | 427258 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp; 1149 | 810461 |
| Orange SA | &nbsp;&nbsp; 7552 | 83807 |
| Pernod Ricard SA | &nbsp;&nbsp; 822 | 109989 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **France (continued)** | **France (continued)** | **France (continued)** |
| Publicis Groupe SA | &nbsp;&nbsp; 968 | $101056 |
| Remy Cointreau SA | &nbsp;&nbsp; 95 | 7496 |
| Renault SA | &nbsp;&nbsp; 781 | 37849 |
| Rexel SA | &nbsp;&nbsp; 924 | 23476 |
| Safran SA | &nbsp;&nbsp; 1382 | 303615 |
| Sanofi SA | &nbsp;&nbsp; 4657 | 480102 |
| Sartorius Stedim Biotech | &nbsp;&nbsp; 119 | 23746 |
| Schneider Electric SE | &nbsp;&nbsp; 2269 | 546909 |
| SEB SA | &nbsp;&nbsp; 95 | 9506 |
| Societe Generale SA | &nbsp;&nbsp; 2882 | 74750 |
| Sodexo SA | &nbsp;&nbsp; 376 | 35610 |
| STMicroelectronics NV | &nbsp;&nbsp; 2846 | 94097 |
| Teleperformance SE | &nbsp;&nbsp; 235 | 30253 |
| Thales SA | &nbsp;&nbsp; 423 | 67237 |
| TotalEnergies SE | &nbsp;&nbsp; 8803 | 593906 |
| Unibail-Rodamco-Westfield, New | &nbsp;&nbsp; 479 | 35820 |
| Veolia Environnement SA | &nbsp;&nbsp; 2777 | 87236 |
| Vinci SA | &nbsp;&nbsp; 2077 | 237023 |
| Vivendi SE | &nbsp;&nbsp; 2917 | 31127 |
|  |  | 7852087 |
| **Germany — 2.2%** | **Germany — 2.2%** | **Germany — 2.2%** |
| adidas AG | &nbsp;&nbsp; 661 | 165645 |
| Allianz SE, Registered | &nbsp;&nbsp; 1613 | 454326 |
| BASF SE | &nbsp;&nbsp; 3837 | 178640 |
| Bayer AG, Registered | &nbsp;&nbsp; 4064 | 120907 |
| Bayerische Motoren Werke AG | &nbsp;&nbsp; 1318 | 122243 |
| Bechtle AG | &nbsp;&nbsp; 330 | 14584 |
| Beiersdorf AG | &nbsp;&nbsp; 410 | 59510 |
| Brenntag SE | &nbsp;&nbsp; 540 | 38414 |
| Carl Zeiss Meditec AG, Bearer | &nbsp;&nbsp; 141 | 9646 |
| Commerzbank AG | &nbsp;&nbsp; 4534 | 73915 |
| Continental AG | &nbsp;&nbsp; 423 | 25932 |
| Covestro AG<sup>(a)(c)</sup> | &nbsp;&nbsp; 736 | 43327 |
| CTS Eventim AG & Co. KGaA | &nbsp;&nbsp; 254 | 22373 |
| Daimler Truck Holding AG | &nbsp;&nbsp; 2209 | 85287 |
| Delivery Hero SE, Class A<sup>(a)(c)</sup> | &nbsp;&nbsp; 642 | 14283 |
| Deutsche Bank AG, Registered | &nbsp;&nbsp; 7718 | 120134 |
| Deutsche Boerse AG | &nbsp;&nbsp; 781 | 159924 |
| Deutsche Lufthansa AG, Registered<sup>(b)</sup> | &nbsp;&nbsp; 1989 | 12465 |
| Deutsche Post AG, Registered | &nbsp;&nbsp; 4071 | 181589 |
| Deutsche Telekom AG, Registered | &nbsp;&nbsp; 13607 | 355925 |
| E.ON SE | &nbsp;&nbsp; 9215 | 129223 |
| Evonik Industries AG | &nbsp;&nbsp; 921 | 18652 |
| Fresenius Medical Care AG & Co. KGaA | &nbsp;&nbsp; 782 | 30176 |
| Fresenius SE & Co. KGaA<sup>(a)</sup> | &nbsp;&nbsp; 1710 | 61271 |
| GEA Group AG | &nbsp;&nbsp; 753 | 33249 |
| Hannover Rueck SE | &nbsp;&nbsp; 236 | 58597 |
| Heidelberg Materials AG | &nbsp;&nbsp; 596 | 62091 |
| Henkel AG & Co. KGaA | &nbsp;&nbsp; 456 | 35332 |
| Infineon Technologies AG | &nbsp;&nbsp; 5371 | 186579 |
| Knorr-Bremse AG | &nbsp;&nbsp; 329 | 26457 |
| LEG Immobilien SE | &nbsp;&nbsp; 283 | 24687 |
| Mercedes-Benz Group AG | &nbsp;&nbsp; 3271 | 216228 |
| Merck KGaA | &nbsp;&nbsp; 548 | 97912 |
| MTU Aero Engines AG | &nbsp;&nbsp; 236 | 66827 |
| Muenchener Rueckversicherungs-Gesellschaft AG in <br> Muenchen, Registered<br>| &nbsp;&nbsp; 572 | 281724 |
| Nemetschek SE | &nbsp;&nbsp; 236 | 22542 |
| Puma SE | &nbsp;&nbsp; 410 | 20345 |
| Qiagen NV, NVS | &nbsp;&nbsp; 897 | 39911 |
| Rational AG | &nbsp;&nbsp; 17 | 14881 |
| Rheinmetall AG | &nbsp;&nbsp; 171 | 93136 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| RWE AG | &nbsp;&nbsp; 2524 | $94198 |
| SAP SE | &nbsp;&nbsp; 4327 | 914815 |
| Scout24 SE<sup>(c)</sup> | &nbsp;&nbsp; 384 | 30358 |
| Siemens AG, Registered | &nbsp;&nbsp; 3132 | 573460 |
| Siemens Energy AG<sup>(a)</sup> | &nbsp;&nbsp; 2497 | 72509 |
| Siemens Healthineers AG<sup>(b)(c)</sup> | &nbsp;&nbsp; 1107 | 59334 |
| Symrise AG, Class A | &nbsp;&nbsp; 575 | 72468 |
| Talanx AG<sup>(a)</sup> | &nbsp;&nbsp; 255 | 19373 |
| Volkswagen AG | &nbsp;&nbsp; 141 | 16636 |
| Vonovia SE | &nbsp;&nbsp; 3067 | 94035 |
| Zalando SE<sup>(a)(c)</sup> | &nbsp;&nbsp; 921 | 23600 |
|  |  | 5749675 |
| **Hong Kong — 0.5%** | **Hong Kong — 0.5%** | **Hong Kong — 0.5%** |
| AIA Group Ltd. | &nbsp;&nbsp; 46400 | 310363 |
| BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp; 15500 | 45094 |
| CK Asset Holdings Ltd. | &nbsp;&nbsp; 7836 | 29942 |
| CK Hutchison Holdings Ltd. | &nbsp;&nbsp; 10836 | 56608 |
| CK Infrastructure Holdings Ltd. | &nbsp;&nbsp; 4000 | 26679 |
| CLP Holdings Ltd. | &nbsp;&nbsp; 7000 | 60078 |
| Futu Holdings Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 203 | 12846 |
| Galaxy Entertainment Group Ltd. | &nbsp;&nbsp; 10000 | 42039 |
| Hang Seng Bank Ltd. | &nbsp;&nbsp; 3400 | 41636 |
| Henderson Land Development Co. Ltd. | &nbsp;&nbsp; 8523 | 23940 |
| HKT Trust & HKT Ltd., Class SS | &nbsp;&nbsp; 12740 | 15430 |
| Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp; 48618 | 39617 |
| Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp; 3500 | 103240 |
| Hongkong Land Holdings Ltd. | &nbsp;&nbsp; 4800 | 15502 |
| Jardine Matheson Holdings Ltd. | &nbsp;&nbsp; 800 | 28183 |
| Link REIT | &nbsp;&nbsp; 10440 | 44047 |
| MTR Corp. Ltd. | &nbsp;&nbsp; 8000 | 25881 |
| Power Assets Holdings Ltd. | &nbsp;&nbsp; 6500 | 41428 |
| Sands China Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 13200 | 24745 |
| Sino Land Co. Ltd. | &nbsp;&nbsp; 24000 | 24825 |
| SITC International Holdings Co. Ltd. | &nbsp;&nbsp; 4000 | 8927 |
| Sun Hung Kai Properties Ltd. | &nbsp;&nbsp; 6000 | 51951 |
| Swire Pacific Ltd., Class A | &nbsp;&nbsp; 1500 | 12940 |
| Swire Properties Ltd. | &nbsp;&nbsp; 4000 | 6317 |
| Techtronic Industries Co. Ltd. | &nbsp;&nbsp; 5393 | 69066 |
| WH Group Ltd.<sup>(c)</sup> | &nbsp;&nbsp; 31000 | 20151 |
| Wharf Holdings Ltd. (The) | &nbsp;&nbsp; 3000 | 8226 |
| Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp; 6000 | 14751 |
|  |  | 1204452 |
| **Ireland — 0.2%** | **Ireland — 0.2%** | **Ireland — 0.2%** |
| AIB Group PLC | &nbsp;&nbsp; 6205 | 35592 |
| Bank of Ireland Group PLC | &nbsp;&nbsp; 4325 | 48980 |
| CRH PLC | &nbsp;&nbsp; 2878 | 246645 |
| Kerry Group PLC, Class A | &nbsp;&nbsp; 643 | 60118 |
| Kingspan Group PLC | &nbsp;&nbsp; 642 | 60068 |
| Smurfit WestRock PLC<sup>(a)</sup> | &nbsp;&nbsp; 841 | 37311 |
| Smurfit WestRock PLC | &nbsp;&nbsp; 1294 | 58023 |
|  |  | 546737 |
| **Israel — 0.2%** | **Israel — 0.2%** | **Israel — 0.2%** |
| Azrieli Group Ltd. | &nbsp;&nbsp; 188 | 11539 |
| Bank Hapoalim BM | &nbsp;&nbsp; 4826 | 44285 |
| Bank Leumi Le-Israel BM | &nbsp;&nbsp; 5896 | 50809 |
| Check Point Software Technologies Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 351 | 64391 |
| CyberArk Software Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 155 | 39739 |
| Elbit Systems Ltd. | &nbsp;&nbsp; 141 | 25237 |
| Global-e Online Ltd.<sup>(a)(b)</sup> | &nbsp;&nbsp; 376 | 12904 |
| ICL Group Ltd. | &nbsp;&nbsp; 2963 | 12403 |
| Isracard Ltd. | &nbsp;&nbsp; 0 | 1 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Israel (continued)** | **Israel (continued)** | **Israel (continued)** |
| Israel Discount Bank Ltd., Class A | &nbsp;&nbsp; 4999 | $25520 |
| Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp; 504 | 18188 |
| Monday.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 165 | 37919 |
| Nice Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 283 | 51078 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 4441 | 77407 |
| Wix.com Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 235 | 36642 |
|  |  | 508062 |
| **Italy — 0.7%** | **Italy — 0.7%** | **Italy — 0.7%** |
| Amplifon SpA | &nbsp;&nbsp; 503 | 15976 |
| Banco BPM SpA | &nbsp;&nbsp; 5005 | 34653 |
| Davide Campari-Milano NV | &nbsp;&nbsp; 2452 | 22113 |
| DiaSorin SpA | &nbsp;&nbsp; 95 | 10362 |
| Enel SpA | &nbsp;&nbsp; 33470 | 238948 |
| Eni SpA | &nbsp;&nbsp; 9093 | 145486 |
| Ferrari NV | &nbsp;&nbsp; 517 | 212783 |
| FinecoBank Banca Fineco SpA | &nbsp;&nbsp; 2496 | 42373 |
| Generali | &nbsp;&nbsp; 4349 | 112565 |
| Infrastrutture Wireless Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 1933 | 21509 |
| Intesa Sanpaolo SpA | &nbsp;&nbsp; 60327 | 244978 |
| Leonardo SpA | &nbsp;&nbsp; 939 | 22372 |
| Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp; 1948 | 31622 |
| Moncler SpA | &nbsp;&nbsp; 867 | 51696 |
| Nexi SpA<sup>(a)(c)</sup> | &nbsp;&nbsp; 2634 | 16167 |
| Poste Italiane SpA<sup>(c)</sup> | &nbsp;&nbsp; 2174 | 29431 |
| Prysmian SpA | &nbsp;&nbsp; 1128 | 77544 |
| Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp; 456 | 24826 |
| Snam SpA | &nbsp;&nbsp; 7589 | 36265 |
| Stellantis NV | &nbsp;&nbsp; 9072 | 151176 |
| Telecom Italia SpA/Milano<sup>(a)(b)</sup> | &nbsp;&nbsp; 40843 | 10011 |
| Tenaris SA, NVS | &nbsp;&nbsp; 1942 | 30813 |
| Terna - Rete Elettrica Nazionale | &nbsp;&nbsp; 5463 | 45492 |
| UniCredit SpA | &nbsp;&nbsp; 6283 | 258072 |
|  |  | 1887233 |
| **Netherlands — 1.3%** | **Netherlands — 1.3%** | **Netherlands — 1.3%** |
| ABN AMRO Bank NV, CVA<sup>(c)</sup> | &nbsp;&nbsp; 1895 | 33081 |
| Adyen NV<sup>(a)(c)</sup> | &nbsp;&nbsp; 90 | 110091 |
| Aegon Ltd. | &nbsp;&nbsp; 6019 | 38950 |
| AerCap Holdings NV | &nbsp;&nbsp; 823 | 77321 |
| Akzo Nobel NV | &nbsp;&nbsp; 735 | 45447 |
| ASM International NV | &nbsp;&nbsp; 143 | 98387 |
| ASML Holding NV | &nbsp;&nbsp; 1659 | 1544813 |
| ASR Nederland NV | &nbsp;&nbsp; 658 | 33059 |
| BE Semiconductor Industries NV | &nbsp;&nbsp; 311 | 40064 |
| Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 923 | 68090 |
| DSM-Firmenich AG | &nbsp;&nbsp; 779 | 99454 |
| EXOR NV, NVS | &nbsp;&nbsp; 423 | 43363 |
| Heineken Holding NV | &nbsp;&nbsp; 576 | 42446 |
| Heineken NV | &nbsp;&nbsp; 1179 | 104625 |
| IMCD NV | &nbsp;&nbsp; 236 | 33935 |
| ING Groep NV | &nbsp;&nbsp; 13703 | 248722 |
| InPost SA<sup>(a)</sup> | &nbsp;&nbsp; 824 | 14276 |
| JDE Peet's NV | &nbsp;&nbsp; 329 | 7235 |
| Koninklijke Ahold Delhaize NV | &nbsp;&nbsp; 3950 | 127250 |
| Koninklijke KPN NV | &nbsp;&nbsp; 16573 | 65301 |
| Koninklijke Philips NV<sup>(a)</sup> | &nbsp;&nbsp; 3342 | 93876 |
| NN Group NV | &nbsp;&nbsp; 1119 | 56156 |
| OCI NV | &nbsp;&nbsp; 428 | 10315 |
| Prosus NV | &nbsp;&nbsp; 5955 | 207730 |
| Randstad NV | &nbsp;&nbsp; 503 | 24499 |
| Universal Music Group NV | &nbsp;&nbsp; 3337 | 79502 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| Wolters Kluwer NV | &nbsp;&nbsp; 1020 | $170758 |
|  |  | 3518746 |
| **New Zealand — 0.0%** | **New Zealand — 0.0%** | **New Zealand — 0.0%** |
| Auckland International Airport Ltd. | &nbsp;&nbsp; 5906 | 26292 |
| Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp; 2360 | 45560 |
| Mercury NZ Ltd. | &nbsp;&nbsp; 2824 | 11563 |
| Meridian Energy Ltd. | &nbsp;&nbsp; 5510 | 21315 |
| Spark New Zealand Ltd. | &nbsp;&nbsp; 7264 | 18668 |
|  |  | 123398 |
| **Norway — 0.2%** | **Norway — 0.2%** | **Norway — 0.2%** |
| Aker BP ASA | &nbsp;&nbsp; 1342 | 32495 |
| DNB Bank ASA | &nbsp;&nbsp; 3606 | 74500 |
| Equinor ASA | &nbsp;&nbsp; 3733 | 98851 |
| Gjensidige Forsikring ASA | &nbsp;&nbsp; 829 | 14025 |
| Kongsberg Gruppen ASA | &nbsp;&nbsp; 358 | 35999 |
| Mowi ASA | &nbsp;&nbsp; 1786 | 30145 |
| Norsk Hydro ASA | &nbsp;&nbsp; 5462 | 30297 |
| Orkla ASA | &nbsp;&nbsp; 3280 | 27681 |
| Salmar ASA | &nbsp;&nbsp; 239 | 13751 |
| Telenor ASA | &nbsp;&nbsp; 3056 | 36412 |
| Yara International ASA | &nbsp;&nbsp; 689 | 19627 |
|  |  | 413783 |
| **Portugal — 0.0%** | **Portugal — 0.0%** | **Portugal — 0.0%** |
| EDP Renovaveis SA | &nbsp;&nbsp; 1190 | 18500 |
| EDP SA | &nbsp;&nbsp; 12275 | 50591 |
| Galp Energia SGPS SA | &nbsp;&nbsp; 2127 | 44723 |
| Jeronimo Martins SGPS SA | &nbsp;&nbsp; 1153 | 20152 |
|  |  | 133966 |
| **Singapore — 0.4%** | **Singapore — 0.4%** | **Singapore — 0.4%** |
| CapitaLand Ascendas REIT | &nbsp;&nbsp; 14277 | 29147 |
| CapitaLand Integrated Commercial Trust | &nbsp;&nbsp; 25131 | 39256 |
| CapitaLand Investment Ltd./Singapore<sup>(b)</sup> | &nbsp;&nbsp; 11300 | 22911 |
| DBS Group Holdings Ltd. | &nbsp;&nbsp; 8140 | 223064 |
| Genting Singapore Ltd. | &nbsp;&nbsp; 23500 | 14933 |
| Grab Holdings Ltd., Class A<sup>(a)</sup> | &nbsp;&nbsp; 9087 | 29987 |
| Keppel Ltd. | &nbsp;&nbsp; 5100 | 25382 |
| Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp; 14125 | 157220 |
| Sea Ltd., ADR<sup>(a)</sup> | &nbsp;&nbsp; 1622 | 106566 |
| Sembcorp Industries Ltd. | &nbsp;&nbsp; 3300 | 11799 |
| Singapore Airlines Ltd.<sup>(b)</sup> | &nbsp;&nbsp; 5300 | 27697 |
| Singapore Exchange Ltd. | &nbsp;&nbsp; 2900 | 21382 |
| Singapore Technologies Engineering Ltd. | &nbsp;&nbsp; 5500 | 18209 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 24500 | 56758 |
| Singapore Telecommunications Ltd. | &nbsp;&nbsp; 8400 | 19441 |
| United Overseas Bank Ltd. | &nbsp;&nbsp; 5100 | 123668 |
| Wilmar International Ltd. | &nbsp;&nbsp; 9500 | 22653 |
|  |  | 950073 |
| **Spain — 0.7%** | **Spain — 0.7%** | **Spain — 0.7%** |
| Acciona SA | &nbsp;&nbsp; 99 | 12835 |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp; 862 | 38511 |
| Aena SME SA<sup>(c)</sup> | &nbsp;&nbsp; 329 | 62509 |
| Amadeus IT Group SA | &nbsp;&nbsp; 1969 | 129680 |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp; 24517 | 256968 |
| Banco de Sabadell SA | &nbsp;&nbsp; 22612 | 47717 |
| Banco Santander SA | &nbsp;&nbsp; 65254 | 314795 |
| CaixaBank SA | &nbsp;&nbsp; 15471 | 90231 |
| Cellnex Telecom SA<sup>(c)</sup> | &nbsp;&nbsp; 1892 | 65987 |
| Endesa SA | &nbsp;&nbsp; 1247 | 24197 |
| Ferrovial SE | &nbsp;&nbsp; 2070 | 82315 |
| Grifols SA<sup>(a)</sup> | &nbsp;&nbsp; 1247 | 12595 |
| Iberdrola SA | &nbsp;&nbsp; 24582 | 324684 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Spain (continued)** | **Spain (continued)** | **Spain (continued)** |
| Industria de Diseno Textil SA | &nbsp;&nbsp; 4559 | $221517 |
| Redeia Corp. SA | &nbsp;&nbsp; 961 | 17062 |
| Repsol SA | &nbsp;&nbsp; 5223 | 74495 |
| Telefonica SA | &nbsp;&nbsp; 19018 | 86137 |
|  |  | 1862235 |
| **Sweden — 0.9%** | **Sweden — 0.9%** | **Sweden — 0.9%** |
| Alfa Laval AB | &nbsp;&nbsp; 1056 | 46692 |
| Assa Abloy AB, Class B | &nbsp;&nbsp; 4230 | 128822 |
| Atlas Copco AB, Class A | &nbsp;&nbsp; 11112 | 197768 |
| Atlas Copco AB, Class B | &nbsp;&nbsp; 6486 | 101479 |
| Beijer Ref AB, Class B | &nbsp;&nbsp; 1378 | 21882 |
| Boliden AB | &nbsp;&nbsp; 1060 | 32418 |
| Epiroc AB | &nbsp;&nbsp; 2778 | 51852 |
| Epiroc AB, Class B | &nbsp;&nbsp; 1617 | 27189 |
| EQT AB | &nbsp;&nbsp; 1655 | 53589 |
| Essity AB, Class B | &nbsp;&nbsp; 2453 | 68969 |
| Evolution AB<sup>(c)</sup> | &nbsp;&nbsp; 800 | 77495 |
| Fastighets AB Balder, Class B<sup>(a)</sup> | &nbsp;&nbsp; 2500 | 18436 |
| Getinge AB, Class B | &nbsp;&nbsp; 921 | 17985 |
| H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp; 2335 | 36327 |
| Hexagon AB, Class B | &nbsp;&nbsp; 8672 | 88319 |
| Holmen AB, Class B | &nbsp;&nbsp; 381 | 14978 |
| Husqvarna AB, Class B | &nbsp;&nbsp; 1293 | 8732 |
| Industrivarden AB, Class A | &nbsp;&nbsp; 503 | 17255 |
| Industrivarden AB, Class C | &nbsp;&nbsp; 596 | 20203 |
| Indutrade AB | &nbsp;&nbsp; 1108 | 32581 |
| Investment AB Latour, Class B | &nbsp;&nbsp; 596 | 17502 |
| Investor AB, Class B | &nbsp;&nbsp; 7402 | 210144 |
| L E Lundbergforetagen AB, Class B | &nbsp;&nbsp; 330 | 16683 |
| Lifco AB, Class B | &nbsp;&nbsp; 922 | 27352 |
| Nibe Industrier AB, Class B | &nbsp;&nbsp; 5834 | 25636 |
| Saab AB | &nbsp;&nbsp; 1324 | 30572 |
| Sagax AB, Class B | &nbsp;&nbsp; 1016 | 25100 |
| Sandvik AB | &nbsp;&nbsp; 4488 | 91878 |
| Securitas AB, Class B | &nbsp;&nbsp; 2179 | 23441 |
| Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp; 6440 | 99044 |
| Skanska AB, Class B | &nbsp;&nbsp; 1525 | 29816 |
| SKF AB, Class B | &nbsp;&nbsp; 1142 | 21231 |
| Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp; 2314 | 31456 |
| Svenska Handelsbanken AB, Class A | &nbsp;&nbsp; 6354 | 64136 |
| Swedbank AB, Class A | &nbsp;&nbsp; 3745 | 79633 |
| Swedish Orphan Biovitrum AB<sup>(a)</sup> | &nbsp;&nbsp; 780 | 20379 |
| Tele2 AB, Class B | &nbsp;&nbsp; 1744 | 17956 |
| Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp; 12038 | 82772 |
| Telia Co. AB | &nbsp;&nbsp; 10784 | 31342 |
| Trelleborg AB, Class B | &nbsp;&nbsp; 894 | 33223 |
| Volvo AB, Class A | &nbsp;&nbsp; 828 | 21525 |
| Volvo AB, Class B | &nbsp;&nbsp; 6567 | 167595 |
| Volvo Car AB<sup>(a)</sup> | &nbsp;&nbsp; 2423 | 6875 |
|  |  | 2238262 |
| **Switzerland — 2.6%** | **Switzerland — 2.6%** | **Switzerland — 2.6%** |
| ABB Ltd., Registered | &nbsp;&nbsp; 6592 | 365900 |
| Adecco Group AG, Registered | &nbsp;&nbsp; 689 | 23452 |
| Alcon Inc. | &nbsp;&nbsp; 2042 | 193346 |
| Avolta AG, Registered | &nbsp;&nbsp; 401 | 15130 |
| Bachem Holding AG | &nbsp;&nbsp; 96 | 8615 |
| Baloise Holding AG, Registered | &nbsp;&nbsp; 188 | 33645 |
| Banque Cantonale Vaudoise, Registered | &nbsp;&nbsp; 119 | 12632 |
| Barry Callebaut AG, Registered | &nbsp;&nbsp; 12 | 19308 |
| BKW AG | &nbsp;&nbsp; 81 | 14652 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| Chocoladefabriken Lindt & Spruengli AG, Participation <br> Certificates, NVS<br>| &nbsp;&nbsp; 8 | $100269 |
| Cie. Financiere Richemont SA, Class A, Registered | &nbsp;&nbsp; 2216 | 338009 |
| Clariant AG, Registered | &nbsp;&nbsp; 735 | 10903 |
| EMS-Chemie Holding AG, Registered | &nbsp;&nbsp; 24 | 20070 |
| Geberit AG, Registered | &nbsp;&nbsp; 142 | 90407 |
| Givaudan SA, Registered | &nbsp;&nbsp; 38 | 186430 |
| Helvetia Holding AG, Registered | &nbsp;&nbsp; 151 | 22526 |
| Holcim AG | &nbsp;&nbsp; 2126 | 198676 |
| Julius Baer Group Ltd. | &nbsp;&nbsp; 904 | 49474 |
| Kuehne + Nagel International AG, Registered | &nbsp;&nbsp; 197 | 61068 |
| Logitech International SA, Registered | &nbsp;&nbsp; 638 | 57469 |
| Lonza Group AG, Registered | &nbsp;&nbsp; 302 | 201105 |
| Nestle SA, Registered | &nbsp;&nbsp; 11087 | 1123031 |
| Novartis AG, Registered | &nbsp;&nbsp; 8187 | 913897 |
| Partners Group Holding AG | &nbsp;&nbsp; 94 | 126528 |
| Roche Holding AG, Bearer | &nbsp;&nbsp; 119 | 41854 |
| Roche Holding AG, NVS | &nbsp;&nbsp; 2908 | 941492 |
| Sandoz Group AG | &nbsp;&nbsp; 1833 | 79503 |
| Schindler Holding AG, Participation Certificates, NVS | &nbsp;&nbsp; 188 | 50319 |
| Schindler Holding AG, Registered | &nbsp;&nbsp; 95 | 24941 |
| SGS SA | &nbsp;&nbsp; 639 | 69864 |
| SIG Group AG | &nbsp;&nbsp; 1235 | 25935 |
| Sika AG, Registered | &nbsp;&nbsp; 631 | 191582 |
| Sonova Holding AG, Registered | &nbsp;&nbsp; 195 | 59774 |
| Straumann Holding AG | &nbsp;&nbsp; 470 | 60607 |
| Swatch Group AG (The), Bearer | &nbsp;&nbsp; 109 | 22449 |
| Swatch Group AG (The), Registered | &nbsp;&nbsp; 188 | 7623 |
| Swiss Life Holding AG, Registered | &nbsp;&nbsp; 131 | 100308 |
| Swiss Prime Site AG, Registered | &nbsp;&nbsp; 282 | 28262 |
| Swiss Re AG | &nbsp;&nbsp; 1270 | 156570 |
| Swisscom AG, Registered | &nbsp;&nbsp; 115 | 70385 |
| Temenos AG, Registered | &nbsp;&nbsp; 283 | 19651 |
| UBS Group AG, Registered | &nbsp;&nbsp; 13760 | 416937 |
| VAT Group AG<sup>(c)</sup> | &nbsp;&nbsp; 111 | 55626 |
| Zurich Insurance Group AG | &nbsp;&nbsp; 613 | 337009 |
|  |  | 6947233 |
| **United Kingdom — 4.0%** | **United Kingdom — 4.0%** | **United Kingdom — 4.0%** |
| 3i Group PLC | &nbsp;&nbsp; 4070 | 163739 |
| Admiral Group PLC | &nbsp;&nbsp; 1115 | 39515 |
| Anglo American PLC | &nbsp;&nbsp; 5375 | 162950 |
| Antofagasta PLC | &nbsp;&nbsp; 1432 | 37288 |
| Ashtead Group PLC | &nbsp;&nbsp; 1849 | 133438 |
| Associated British Foods PLC | &nbsp;&nbsp; 1478 | 47186 |
| AstraZeneca PLC | &nbsp;&nbsp; 6414 | 1018997 |
| Auto Trader Group PLC<sup>(c)</sup> | &nbsp;&nbsp; 3341 | 34997 |
| Aviva PLC | &nbsp;&nbsp; 11193 | 72104 |
| BAE Systems PLC | &nbsp;&nbsp; 12502 | 208510 |
| Barclays PLC | &nbsp;&nbsp; 63290 | 189256 |
| Barratt Developments PLC | &nbsp;&nbsp; 3978 | 26919 |
| Berkeley Group Holdings PLC | &nbsp;&nbsp; 503 | 32837 |
| BP PLC | &nbsp;&nbsp; 69552 | 411130 |
| British American Tobacco PLC | &nbsp;&nbsp; 8297 | 294386 |
| BT Group PLC | &nbsp;&nbsp; 28529 | 51737 |
| Bunzl PLC | &nbsp;&nbsp; 1432 | 60000 |
| Burberry Group PLC | &nbsp;&nbsp; 1411 | 14121 |
| Centrica PLC | &nbsp;&nbsp; 23297 | 39721 |
| Coca-Cola HBC AG, Class DI | &nbsp;&nbsp; 782 | 28535 |
| Compass Group PLC | &nbsp;&nbsp; 6931 | 213440 |
| Croda International PLC | &nbsp;&nbsp; 596 | 30989 |
| DCC PLC | &nbsp;&nbsp; 410 | 28247 |
| Diageo PLC | &nbsp;&nbsp; 9091 | 282866 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| Endeavour Mining PLC | &nbsp;&nbsp; 760 | $16977 |
| Entain PLC | &nbsp;&nbsp; 2705 | 19878 |
| Experian PLC | &nbsp;&nbsp; 3834 | 180888 |
| Flutter Entertainment PLC<sup>(a)</sup> | &nbsp;&nbsp; 713 | 141036 |
| Glencore PLC | &nbsp;&nbsp; 41991 | 233001 |
| GSK PLC | &nbsp;&nbsp; 17425 | 338372 |
| Haleon PLC | &nbsp;&nbsp; 28910 | 129673 |
| Halma PLC | &nbsp;&nbsp; 1571 | 53773 |
| Hargreaves Lansdown PLC | &nbsp;&nbsp; 1431 | 20329 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp; 828 | 20244 |
| HSBC Holdings PLC | &nbsp;&nbsp; 77853 | 708003 |
| Imperial Brands PLC | &nbsp;&nbsp; 3458 | 95309 |
| Informa PLC | &nbsp;&nbsp; 5648 | 63117 |
| InterContinental Hotels Group PLC | &nbsp;&nbsp; 684 | 68910 |
| Intertek Group PLC | &nbsp;&nbsp; 689 | 44742 |
| J Sainsbury PLC | &nbsp;&nbsp; 6487 | 23004 |
| JD Sports Fashion PLC | &nbsp;&nbsp; 11249 | 19032 |
| Kingfisher PLC | &nbsp;&nbsp; 5831 | 20730 |
| Land Securities Group PLC | &nbsp;&nbsp; 3149 | 25751 |
| Legal & General Group PLC | &nbsp;&nbsp; 23702 | 70694 |
| Lloyds Banking Group PLC | &nbsp;&nbsp; 260293 | 198851 |
| London Stock Exchange Group PLC | &nbsp;&nbsp; 1890 | 230061 |
| M&G PLC | &nbsp;&nbsp; 10970 | 29955 |
| Melrose Industries PLC | &nbsp;&nbsp; 5513 | 41746 |
| Mondi PLC, NVS | &nbsp;&nbsp; 1848 | 36131 |
| National Grid PLC | &nbsp;&nbsp; 19322 | 245161 |
| NatWest Group PLC, NVS | &nbsp;&nbsp; 27191 | 129007 |
| Next PLC | &nbsp;&nbsp; 504 | 58907 |
| Pearson PLC | &nbsp;&nbsp; 2127 | 28859 |
| Persimmon PLC | &nbsp;&nbsp; 1247 | 25429 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp; 3494 | 24609 |
| Prudential PLC | &nbsp;&nbsp; 11103 | 100198 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp; 2945 | 158422 |
| RELX PLC | &nbsp;&nbsp; 7768 | 366630 |
| Rentokil Initial PLC | &nbsp;&nbsp; 10170 | 62100 |
| Rio Tinto PLC | &nbsp;&nbsp; 4658 | 302923 |
| Rolls-Royce Holdings PLC<sup>(a)</sup> | &nbsp;&nbsp; 33954 | 196601 |
| Sage Group PLC (The) | &nbsp;&nbsp; 4442 | 62093 |
| Schroders PLC | &nbsp;&nbsp; 2992 | 15120 |
| Segro PLC | &nbsp;&nbsp; 5652 | 66527 |
| Severn Trent PLC | &nbsp;&nbsp; 967 | 31969 |
| Shell PLC | &nbsp;&nbsp; 26322 | 959802 |
| Smith & Nephew PLC | &nbsp;&nbsp; 3605 | 51958 |
| Smiths Group PLC | &nbsp;&nbsp; 1618 | 37164 |
| Spirax Group PLC | &nbsp;&nbsp; 329 | 38410 |
| SSE PLC | &nbsp;&nbsp; 4427 | 107141 |
| Standard Chartered PLC | &nbsp;&nbsp; 9040 | 89300 |
| Taylor Wimpey PLC | &nbsp;&nbsp; 16618 | 34070 |
| Tesco PLC | &nbsp;&nbsp; 28202 | 120267 |
| Unilever PLC | &nbsp;&nbsp; 10436 | 641341 |
| United Utilities Group PLC | &nbsp;&nbsp; 2731 | 36294 |
| Vodafone Group PLC | &nbsp;&nbsp; 94017 | 87976 |
| Whitbread PLC | &nbsp;&nbsp; 828 | 31025 |
| Wise PLC, Class A<sup>(a)</sup> | &nbsp;&nbsp; 2516 | 23166 |
| WPP PLC | &nbsp;&nbsp; 4374 | 42192 |
|  |  | 10627776 |
| **United States — 75.9%** | **United States — 75.9%** | **United States — 75.9%** |
| 3M Co. | &nbsp;&nbsp; 2303 | 293748 |
| A O Smith Corp. | &nbsp;&nbsp; 457 | 38863 |
| Abbott Laboratories | &nbsp;&nbsp; 7177 | 760331 |
| AbbVie Inc. | &nbsp;&nbsp; 7333 | 1358952 |
| Accenture PLC, Class A | &nbsp;&nbsp; 2595 | 857959 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Adobe Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1860 | $1026069 |
| Advanced Micro Devices Inc.<sup>(a)</sup> | &nbsp;&nbsp; 6658 | 961948 |
| AECOM | &nbsp;&nbsp; 535 | 48476 |
| AES Corp. (The) | &nbsp;&nbsp; 3074 | 54686 |
| Aflac Inc. | &nbsp;&nbsp; 2224 | 212125 |
| Agilent Technologies Inc. | &nbsp;&nbsp; 1199 | 169539 |
| Air Products and Chemicals Inc. | &nbsp;&nbsp; 907 | 239312 |
| Airbnb Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1819 | 253860 |
| Akamai Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 642 | 63096 |
| Albemarle Corp. | &nbsp;&nbsp; 457 | 42807 |
| Albertsons Companies Inc., Class A | &nbsp;&nbsp; 1584 | 31411 |
| Alexandria Real Estate Equities Inc. | &nbsp;&nbsp; 671 | 78702 |
| Align Technology Inc.<sup>(a)</sup> | &nbsp;&nbsp; 315 | 73042 |
| Allegion PLC | &nbsp;&nbsp; 384 | 52535 |
| Alliant Energy Corp. | &nbsp;&nbsp; 1113 | 61950 |
| Allstate Corp. (The) | &nbsp;&nbsp; 1101 | 188403 |
| Ally Financial Inc. | &nbsp;&nbsp; 1044 | 46990 |
| Alnylam Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 540 | 128228 |
| Alphabet Inc., Class A | &nbsp;&nbsp; 24363 | 4179229 |
| Alphabet Inc., Class C, NVS | &nbsp;&nbsp; 21101 | 3653638 |
| Altria Group Inc. | &nbsp;&nbsp; 7050 | 345521 |
| Amazon.com Inc.<sup>(a)</sup> | &nbsp;&nbsp; 38715 | 7238931 |
| Amcor PLC | &nbsp;&nbsp; 6204 | 65328 |
| Ameren Corp. | &nbsp;&nbsp; 1128 | 89417 |
| American Electric Power Co. Inc. | &nbsp;&nbsp; 2134 | 209388 |
| American Express Co. | &nbsp;&nbsp; 2359 | 596921 |
| American Financial Group Inc./OH | &nbsp;&nbsp; 291 | 38109 |
| American Homes 4 Rent, Class A | &nbsp;&nbsp; 1274 | 45979 |
| American International Group Inc. | &nbsp;&nbsp; 2779 | 220180 |
| American Tower Corp. | &nbsp;&nbsp; 1948 | 429339 |
| American Water Works Co. Inc. | &nbsp;&nbsp; 799 | 113746 |
| Ameriprise Financial Inc. | &nbsp;&nbsp; 426 | 183210 |
| AMETEK Inc. | &nbsp;&nbsp; 950 | 164806 |
| Amgen Inc. | &nbsp;&nbsp; 2223 | 739081 |
| Amphenol Corp., Class A | &nbsp;&nbsp; 4906 | 315260 |
| Analog Devices Inc. | &nbsp;&nbsp; 2038 | 471552 |
| Annaly Capital Management Inc. | &nbsp;&nbsp; 1955 | 38924 |
| Ansys Inc.<sup>(a)</sup> | &nbsp;&nbsp; 363 | 113848 |
| Aon PLC, Class A | &nbsp;&nbsp; 816 | 268064 |
| APA Corp. | &nbsp;&nbsp; 1692 | 52773 |
| Apollo Global Management Inc. | &nbsp;&nbsp; 1666 | 208766 |
| Apple Inc. | &nbsp;&nbsp; 60648 | 13468708 |
| Applied Materials Inc. | &nbsp;&nbsp; 3433 | 728483 |
| AppLovin Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp; 781 | 60215 |
| Aptiv PLC<sup>(a)</sup> | &nbsp;&nbsp; 1082 | 75080 |
| Arch Capital Group Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1553 | 148746 |
| Archer-Daniels-Midland Co. | &nbsp;&nbsp; 2032 | 126004 |
| Ares Management Corp., Class A | &nbsp;&nbsp; 777 | 119036 |
| Arista Networks Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1096 | 379819 |
| Arthur J Gallagher & Co. | &nbsp;&nbsp; 896 | 254007 |
| Aspen Technology Inc.<sup>(a)</sup> | &nbsp;&nbsp; 114 | 21426 |
| Assurant Inc. | &nbsp;&nbsp; 213 | 37247 |
| AT&T Inc. | &nbsp;&nbsp; 29329 | 564583 |
| Atlassian Corp., NVS<sup>(a)</sup> | &nbsp;&nbsp; 671 | 118478 |
| Atmos Energy Corp. | &nbsp;&nbsp; 632 | 80820 |
| Autodesk Inc.<sup>(a)</sup> | &nbsp;&nbsp; 875 | 216580 |
| Automatic Data Processing Inc. | &nbsp;&nbsp; 1706 | 448030 |
| AutoZone Inc.<sup>(a)</sup> | &nbsp;&nbsp; 72 | 225626 |
| AvalonBay Communities Inc. | &nbsp;&nbsp; 611 | 125206 |
| Avantor Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2829 | 75676 |
| Avery Dennison Corp. | &nbsp;&nbsp; 329 | 71337 |
| Axon Enterprise Inc.<sup>(a)</sup> | &nbsp;&nbsp; 283 | 84903 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Baker Hughes Co., Class A | &nbsp;&nbsp; 4214 | $163166 |
| Ball Corp. | &nbsp;&nbsp; 1292 | 82468 |
| Bank of America Corp. | &nbsp;&nbsp; 29259 | 1179430 |
| Bank of New York Mellon Corp. (The) | &nbsp;&nbsp; 3125 | 203344 |
| Bath & Body Works Inc. | &nbsp;&nbsp; 968 | 35574 |
| Baxter International Inc. | &nbsp;&nbsp; 2072 | 74219 |
| Becton Dickinson and Co. | &nbsp;&nbsp; 1195 | 288067 |
| Bentley Systems Inc., Class B | &nbsp;&nbsp; 659 | 32120 |
| Berkshire Hathaway Inc., Class B<sup>(a)</sup> | &nbsp;&nbsp; 5430 | 2381055 |
| Best Buy Co. Inc. | &nbsp;&nbsp; 808 | 69908 |
| Biogen Inc.<sup>(a)</sup> | &nbsp;&nbsp; 596 | 127067 |
| BioMarin Pharmaceutical Inc.<sup>(a)</sup> | &nbsp;&nbsp; 735 | 61983 |
| Bio-Rad Laboratories Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 95 | 32144 |
| Bio-Techne Corp. | &nbsp;&nbsp; 668 | 54502 |
| BlackRock Inc.<sup>(d)</sup> | &nbsp;&nbsp; 611 | 535542 |
| Blackstone Inc., NVS | &nbsp;&nbsp; 2965 | 421475 |
| Block Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2234 | 138240 |
| Boeing Co. (The)<sup>(a)</sup> | &nbsp;&nbsp; 2412 | 459727 |
| Booking Holdings Inc. | &nbsp;&nbsp; 142 | 527531 |
| Booz Allen Hamilton Holding Corp., Class A | &nbsp;&nbsp; 565 | 80970 |
| Boston Scientific Corp.<sup>(a)</sup> | &nbsp;&nbsp; 6045 | 446605 |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp; 8481 | 403356 |
| Broadcom Inc. | &nbsp;&nbsp; 18162 | 2918270 |
| Broadridge Financial Solutions Inc. | &nbsp;&nbsp; 507 | 108498 |
| Brown & Brown Inc. | &nbsp;&nbsp; 1035 | 102910 |
| Brown-Forman Corp., Class B  | &nbsp;&nbsp; 756 | 34141 |
| Builders FirstSource Inc.<sup>(a)</sup> | &nbsp;&nbsp; 503 | 84187 |
| Bunge Global SA | &nbsp;&nbsp; 596 | 62717 |
| Burlington Stores Inc.<sup>(a)</sup> | &nbsp;&nbsp; 283 | 73671 |
| BXP Inc. | &nbsp;&nbsp; 637 | 45424 |
| Cadence Design Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1107 | 296300 |
| Caesars Entertainment Inc.<sup>(a)</sup> | &nbsp;&nbsp; 829 | 33119 |
| Camden Property Trust | &nbsp;&nbsp; 431 | 47733 |
| Campbell Soup Co. | &nbsp;&nbsp; 773 | 36223 |
| Capital One Financial Corp. | &nbsp;&nbsp; 1604 | 242846 |
| Cardinal Health Inc. | &nbsp;&nbsp; 992 | 100023 |
| Carlisle Companies Inc. | &nbsp;&nbsp; 206 | 86228 |
| Carlyle Group Inc. (The) | &nbsp;&nbsp; 1089 | 54167 |
| CarMax Inc.<sup>(a)</sup> | &nbsp;&nbsp; 643 | 54295 |
| Carnival Corp.<sup>(a)</sup> | &nbsp;&nbsp; 3978 | 66273 |
| Carrier Global Corp. | &nbsp;&nbsp; 3384 | 230484 |
| Catalent Inc.<sup>(a)</sup> | &nbsp;&nbsp; 689 | 40885 |
| Caterpillar Inc. | &nbsp;&nbsp; 2051 | 710056 |
| Cboe Global Markets Inc. | &nbsp;&nbsp; 428 | 78542 |
| CBRE Group Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1230 | 138633 |
| CDW Corp./DE | &nbsp;&nbsp; 567 | 123668 |
| Celanese Corp., Class A | &nbsp;&nbsp; 472 | 66623 |
| Celsius Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 618 | 28941 |
| Cencora Inc. | &nbsp;&nbsp; 752 | 178886 |
| Centene Corp.<sup>(a)</sup> | &nbsp;&nbsp; 2277 | 175147 |
| CenterPoint Energy Inc. | &nbsp;&nbsp; 2499 | 69347 |
| CF Industries Holdings Inc. | &nbsp;&nbsp; 815 | 62258 |
| CH Robinson Worldwide Inc. | &nbsp;&nbsp; 470 | 41854 |
| Charles River Laboratories International Inc.<sup>(a)</sup> | &nbsp;&nbsp; 214 | 52237 |
| Charles Schwab Corp. (The) | &nbsp;&nbsp; 6275 | 409067 |
| Charter Communications Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 394 | 149610 |
| Cheniere Energy Inc. | &nbsp;&nbsp; 925 | 168942 |
| Chesapeake Energy Corp. | &nbsp;&nbsp; 517 | 39463 |
| Chevron Corp. | &nbsp;&nbsp; 7221 | 1158754 |
| Chipotle Mexican Grill Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 5710 | 310167 |
| Chord Energy Corp. | &nbsp;&nbsp; 252 | 43258 |
| Chubb Ltd. | &nbsp;&nbsp; 1665 | 458974 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Church & Dwight Co. Inc. | &nbsp;&nbsp; 1014 | $99382 |
| Cigna Group (The) | &nbsp;&nbsp; 1161 | 404806 |
| Cincinnati Financial Corp. | &nbsp;&nbsp; 642 | 83858 |
| Cintas Corp. | &nbsp;&nbsp; 376 | 287241 |
| Cisco Systems Inc. | &nbsp;&nbsp; 16790 | 813476 |
| Citigroup Inc. | &nbsp;&nbsp; 7926 | 514239 |
| Citizens Financial Group Inc. | &nbsp;&nbsp; 1834 | 78257 |
| Cleveland-Cliffs Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2134 | 32757 |
| Clorox Co. (The) | &nbsp;&nbsp; 503 | 66361 |
| Cloudflare Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1177 | 91218 |
| CME Group Inc. | &nbsp;&nbsp; 1483 | 287272 |
| CMS Energy Corp. | &nbsp;&nbsp; 1317 | 85342 |
| CNH Industrial NV | &nbsp;&nbsp; 4036 | 42983 |
| Coca-Cola Co. (The) | &nbsp;&nbsp; 16976 | 1132978 |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp; 2001 | 151436 |
| Coinbase Global Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 774 | 173655 |
| Colgate-Palmolive Co. | &nbsp;&nbsp; 3248 | 322169 |
| Comcast Corp., Class A | &nbsp;&nbsp; 16484 | 680295 |
| Conagra Brands Inc. | &nbsp;&nbsp; 1988 | 60276 |
| Confluent Inc.<sup>(a)</sup> | &nbsp;&nbsp; 667 | 16688 |
| ConocoPhillips | &nbsp;&nbsp; 4888 | 543546 |
| Consolidated Edison Inc. | &nbsp;&nbsp; 1393 | 135845 |
| Constellation Brands Inc., Class A | &nbsp;&nbsp; 684 | 167689 |
| Constellation Energy Corp. | &nbsp;&nbsp; 1288 | 244462 |
| Cooper Companies Inc. (The) | &nbsp;&nbsp; 852 | 79517 |
| Copart Inc.<sup>(a)</sup> | &nbsp;&nbsp; 3512 | 183783 |
| Corning Inc. | &nbsp;&nbsp; 3337 | 133513 |
| Corpay Inc.<sup>(a)</sup> | &nbsp;&nbsp; 302 | 88130 |
| Corteva Inc. | &nbsp;&nbsp; 2853 | 160053 |
| CoStar Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1660 | 129513 |
| Costco Wholesale Corp. | &nbsp;&nbsp; 1834 | 1507548 |
| Coterra Energy Inc. | &nbsp;&nbsp; 3159 | 81502 |
| Crowdstrike Holdings Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 946 | 219434 |
| Crown Castle Inc. | &nbsp;&nbsp; 1792 | 197263 |
| Crown Holdings Inc. | &nbsp;&nbsp; 456 | 40447 |
| CSX Corp. | &nbsp;&nbsp; 8003 | 280905 |
| Cummins Inc. | &nbsp;&nbsp; 577 | 168369 |
| CVS Health Corp. | &nbsp;&nbsp; 5145 | 310398 |
| Danaher Corp. | &nbsp;&nbsp; 2901 | 803809 |
| Darden Restaurants Inc. | &nbsp;&nbsp; 504 | 73730 |
| Datadog Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1137 | 132392 |
| DaVita Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 235 | 32106 |
| Dayforce Inc.<sup>(a)</sup> | &nbsp;&nbsp; 549 | 32545 |
| Deckers Outdoor Corp.<sup>(a)</sup> | &nbsp;&nbsp; 107 | 98721 |
| Deere & Co. | &nbsp;&nbsp; 1088 | 404714 |
| Dell Technologies Inc., Class C | &nbsp;&nbsp; 1128 | 128231 |
| Delta Air Lines Inc. | &nbsp;&nbsp; 596 | 25640 |
| Devon Energy Corp. | &nbsp;&nbsp; 2709 | 127404 |
| Dexcom Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1623 | 110072 |
| Diamondback Energy Inc. | &nbsp;&nbsp; 689 | 139392 |
| Dick's Sporting Goods Inc. | &nbsp;&nbsp; 252 | 54520 |
| Digital Realty Trust Inc. | &nbsp;&nbsp; 1294 | 193440 |
| Discover Financial Services | &nbsp;&nbsp; 1035 | 149030 |
| DocuSign Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 939 | 52096 |
| Dollar General Corp. | &nbsp;&nbsp; 871 | 104860 |
| Dollar Tree Inc.<sup>(a)</sup> | &nbsp;&nbsp; 854 | 89106 |
| Dominion Energy Inc. | &nbsp;&nbsp; 3542 | 189355 |
| Domino's Pizza Inc. | &nbsp;&nbsp; 142 | 60875 |
| DoorDash Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1175 | 130096 |
| Dover Corp. | &nbsp;&nbsp; 550 | 101343 |
| Dow Inc. | &nbsp;&nbsp; 2961 | 161286 |
| DR Horton Inc. | &nbsp;&nbsp; 1251 | 225092 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| DraftKings Inc., Class A <sup>(a)</sup> | &nbsp;&nbsp; 1697 | $62704 |
| DTE Energy Co. | &nbsp;&nbsp; 846 | 101968 |
| Duke Energy Corp. | &nbsp;&nbsp; 3161 | 345402 |
| DuPont de Nemours Inc. | &nbsp;&nbsp; 1717 | 143713 |
| Dynatrace Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1101 | 48356 |
| Eastman Chemical Co. | &nbsp;&nbsp; 444 | 45879 |
| Eaton Corp. PLC | &nbsp;&nbsp; 1656 | 504732 |
| eBay Inc. | &nbsp;&nbsp; 2130 | 118449 |
| Ecolab Inc. | &nbsp;&nbsp; 1064 | 245454 |
| Edison International | &nbsp;&nbsp; 1607 | 128576 |
| Edwards Lifesciences Corp.<sup>(a)</sup> | &nbsp;&nbsp; 2445 | 154157 |
| Electronic Arts Inc. | &nbsp;&nbsp; 1056 | 159393 |
| Elevance Health Inc. | &nbsp;&nbsp; 971 | 516601 |
| Eli Lilly & Co. | &nbsp;&nbsp; 3342 | 2687870 |
| EMCOR Group Inc. | &nbsp;&nbsp; 194 | 72835 |
| Emerson Electric Co. | &nbsp;&nbsp; 2398 | 280830 |
| Enphase Energy Inc.<sup>(a)</sup> | &nbsp;&nbsp; 543 | 62505 |
| Entegris Inc. | &nbsp;&nbsp; 641 | 75824 |
| Entergy Corp. | &nbsp;&nbsp; 922 | 106924 |
| EOG Resources Inc. | &nbsp;&nbsp; 2429 | 307997 |
| EPAM Systems Inc.<sup>(a)</sup> | &nbsp;&nbsp; 236 | 50771 |
| EQT Corp. | &nbsp;&nbsp; 2320 | 80063 |
| Equifax Inc. | &nbsp;&nbsp; 503 | 140523 |
| Equinix Inc. | &nbsp;&nbsp; 388 | 306613 |
| Equitable Holdings Inc. | &nbsp;&nbsp; 976 | 42563 |
| Equity LifeStyle Properties Inc. | &nbsp;&nbsp; 759 | 52128 |
| Equity Residential | &nbsp;&nbsp; 1471 | 102426 |
| Erie Indemnity Co., Class A, NVS | &nbsp;&nbsp; 95 | 41909 |
| Essential Utilities Inc. | &nbsp;&nbsp; 1090 | 44309 |
| Essex Property Trust Inc. | &nbsp;&nbsp; 261 | 72652 |
| Estee Lauder Companies Inc. (The), Class A | &nbsp;&nbsp; 962 | 95825 |
| Etsy Inc.<sup>(a)</sup> | &nbsp;&nbsp; 503 | 32765 |
| Everest Group Ltd. | &nbsp;&nbsp; 196 | 77003 |
| Evergy Inc. | &nbsp;&nbsp; 968 | 56144 |
| Eversource Energy | &nbsp;&nbsp; 1474 | 95677 |
| Exact Sciences Corp.<sup>(a)</sup> | &nbsp;&nbsp; 769 | 35128 |
| Exelon Corp. | &nbsp;&nbsp; 4023 | 149656 |
| Expedia Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 535 | 68303 |
| Expeditors International of Washington Inc. | &nbsp;&nbsp; 617 | 77014 |
| Extra Space Storage Inc. | &nbsp;&nbsp; 861 | 137433 |
| Exxon Mobil Corp. | &nbsp;&nbsp; 18580 | 2203402 |
| F5 Inc.<sup>(a)</sup> | &nbsp;&nbsp; 235 | 47855 |
| FactSet Research Systems Inc. | &nbsp;&nbsp; 150 | 61964 |
| Fair Isaac Corp.<sup>(a)</sup> | &nbsp;&nbsp; 105 | 168000 |
| Fastenal Co. | &nbsp;&nbsp; 2377 | 168173 |
| FedEx Corp. | &nbsp;&nbsp; 966 | 291974 |
| Ferguson PLC | &nbsp;&nbsp; 819 | 182350 |
| Fidelity National Financial Inc. | &nbsp;&nbsp; 869 | 48151 |
| Fidelity National Information Services Inc. | &nbsp;&nbsp; 2456 | 188695 |
| Fifth Third Bancorp | &nbsp;&nbsp; 2732 | 115673 |
| First Citizens BancShares Inc./NC, Class A | &nbsp;&nbsp; 42 | 87683 |
| First Solar Inc.<sup>(a)</sup> | &nbsp;&nbsp; 449 | 96980 |
| FirstEnergy Corp. | &nbsp;&nbsp; 2400 | 100584 |
| Fiserv Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2465 | 403200 |
| Ford Motor Co. | &nbsp;&nbsp; 15764 | 170567 |
| Fortinet Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2589 | 150266 |
| Fortive Corp. | &nbsp;&nbsp; 1431 | 102817 |
| Fortune Brands Innovations Inc., NVS | &nbsp;&nbsp; 503 | 40647 |
| Fox Corp., Class A, NVS | &nbsp;&nbsp; 945 | 35948 |
| Fox Corp., Class B | &nbsp;&nbsp; 689 | 24411 |
| Franklin Resources Inc. | &nbsp;&nbsp; 1292 | 29548 |
| Freeport-McMoRan Inc. | &nbsp;&nbsp; 5851 | 265694 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Gaming and Leisure Properties Inc. | &nbsp;&nbsp; 1034 | $51907 |
| Garmin Ltd. | &nbsp;&nbsp; 642 | 109943 |
| Gartner Inc.<sup>(a)</sup> | &nbsp;&nbsp; 330 | 165393 |
| GE HealthCare Technologies Inc., NVS<sup>(a)</sup> | &nbsp;&nbsp; 1796 | 151996 |
| GE Vernova Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1111 | 198025 |
| Gen Digital Inc. | &nbsp;&nbsp; 2515 | 65365 |
| General Dynamics Corp. | &nbsp;&nbsp; 962 | 287359 |
| General Electric Co. | &nbsp;&nbsp; 4528 | 770666 |
| General Mills Inc. | &nbsp;&nbsp; 2380 | 159793 |
| General Motors Co. | &nbsp;&nbsp; 4798 | 212647 |
| Genuine Parts Co. | &nbsp;&nbsp; 592 | 87089 |
| Gilead Sciences Inc. | &nbsp;&nbsp; 5092 | 387298 |
| Global Payments Inc. | &nbsp;&nbsp; 1049 | 106620 |
| GoDaddy Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 534 | 77670 |
| Goldman Sachs Group Inc. (The) | &nbsp;&nbsp; 1353 | 688718 |
| Graco Inc. | &nbsp;&nbsp; 684 | 58174 |
| Halliburton Co. | &nbsp;&nbsp; 3605 | 125021 |
| Hartford Financial Services Group Inc. (The) | &nbsp;&nbsp; 1195 | 132549 |
| HCA Healthcare Inc. | &nbsp;&nbsp; 805 | 292255 |
| Healthpeak Properties Inc. | &nbsp;&nbsp; 2898 | 63234 |
| HEICO Corp. | &nbsp;&nbsp; 201 | 48509 |
| HEICO Corp., Class A | &nbsp;&nbsp; 337 | 64067 |
| Henry Schein Inc.<sup>(a)</sup> | &nbsp;&nbsp; 479 | 34459 |
| Hershey Co. (The) | &nbsp;&nbsp; 612 | 120858 |
| Hess Corp. | &nbsp;&nbsp; 1151 | 176586 |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp; 5471 | 108928 |
| HF Sinclair Corp. | &nbsp;&nbsp; 662 | 34073 |
| Hilton Worldwide Holdings Inc. | &nbsp;&nbsp; 1055 | 226477 |
| Hologic Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1014 | 82753 |
| Home Depot Inc. (The) | &nbsp;&nbsp; 4089 | 1505406 |
| Honeywell International Inc. | &nbsp;&nbsp; 2687 | 550163 |
| Hormel Foods Corp. | &nbsp;&nbsp; 1200 | 38532 |
| Host Hotels & Resorts Inc. | &nbsp;&nbsp; 3056 | 53511 |
| Howmet Aerospace Inc. | &nbsp;&nbsp; 1664 | 159245 |
| HP Inc. | &nbsp;&nbsp; 3965 | 143097 |
| Hubbell Inc., Class B | &nbsp;&nbsp; 214 | 84669 |
| HubSpot Inc.<sup>(a)</sup> | &nbsp;&nbsp; 200 | 99406 |
| Humana Inc. | &nbsp;&nbsp; 504 | 182251 |
| Huntington Bancshares Inc./Ohio | &nbsp;&nbsp; 6018 | 89969 |
| Huntington Ingalls Industries Inc. | &nbsp;&nbsp; 183 | 51236 |
| Hyatt Hotels Corp., Class A | &nbsp;&nbsp; 194 | 28582 |
| IDEX Corp. | &nbsp;&nbsp; 330 | 68798 |
| IDEXX Laboratories Inc.<sup>(a)</sup> | &nbsp;&nbsp; 340 | 161881 |
| Illinois Tool Works Inc. | &nbsp;&nbsp; 1247 | 308358 |
| Illumina Inc.<sup>(a)</sup> | &nbsp;&nbsp; 640 | 78464 |
| Incyte Corp.<sup>(a)</sup> | &nbsp;&nbsp; 736 | 47892 |
| Ingersoll Rand Inc. | &nbsp;&nbsp; 1707 | 171383 |
| Insulet Corp.<sup>(a)</sup> | &nbsp;&nbsp; 283 | 55001 |
| Intel Corp. | &nbsp;&nbsp; 17779 | 546526 |
| Intercontinental Exchange Inc. | &nbsp;&nbsp; 2376 | 360107 |
| International Business Machines Corp. | &nbsp;&nbsp; 3793 | 728787 |
| International Flavors & Fragrances Inc. | &nbsp;&nbsp; 1014 | 100873 |
| International Paper Co. | &nbsp;&nbsp; 1432 | 66559 |
| Interpublic Group of Companies Inc. (The) | &nbsp;&nbsp; 1525 | 49059 |
| Intuit Inc. | &nbsp;&nbsp; 1157 | 748984 |
| Intuitive Surgical Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1458 | 648241 |
| Invitation Homes Inc. | &nbsp;&nbsp; 2637 | 93007 |
| IQVIA Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 734 | 180733 |
| Iron Mountain Inc. | &nbsp;&nbsp; 1259 | 129123 |
| J.M. Smucker Co. (The) | &nbsp;&nbsp; 457 | 53903 |
| Jabil Inc. | &nbsp;&nbsp; 532 | 59940 |
| Jack Henry & Associates Inc. | &nbsp;&nbsp; 282 | 48357 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Jacobs Solutions Inc., NVS | &nbsp;&nbsp; 503 | $73614 |
| JB Hunt Transport Services Inc. | &nbsp;&nbsp; 330 | 57140 |
| Johnson & Johnson | &nbsp;&nbsp; 9928 | 1567135 |
| Johnson Controls International PLC | &nbsp;&nbsp; 2773 | 198380 |
| JPMorgan Chase & Co. | &nbsp;&nbsp; 11894 | 2531043 |
| Juniper Networks Inc. | &nbsp;&nbsp; 1394 | 52540 |
| Kellanova | &nbsp;&nbsp; 1060 | 61639 |
| Kenvue Inc. | &nbsp;&nbsp; 7925 | 146533 |
| Keurig Dr Pepper Inc. | &nbsp;&nbsp; 4373 | 149906 |
| KeyCorp | &nbsp;&nbsp; 4007 | 64633 |
| Keysight Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 735 | 102584 |
| Kimberly-Clark Corp. | &nbsp;&nbsp; 1385 | 187044 |
| Kimco Realty Corp. | &nbsp;&nbsp; 2894 | 62887 |
| Kinder Morgan Inc. | &nbsp;&nbsp; 8240 | 174111 |
| KKR & Co. Inc. | &nbsp;&nbsp; 2567 | 316896 |
| KLA Corp. | &nbsp;&nbsp; 564 | 464212 |
| Knight-Swift Transportation Holdings Inc. | &nbsp;&nbsp; 727 | 39571 |
| Kraft Heinz Co. (The) | &nbsp;&nbsp; 3812 | 134221 |
| Kroger Co. (The) | &nbsp;&nbsp; 2774 | 151183 |
| L3Harris Technologies Inc. | &nbsp;&nbsp; 802 | 181966 |
| Labcorp Holdings Inc. | &nbsp;&nbsp; 376 | 81005 |
| Lam Research Corp. | &nbsp;&nbsp; 537 | 494706 |
| Lamb Weston Holdings Inc. | &nbsp;&nbsp; 583 | 34992 |
| Las Vegas Sands Corp. | &nbsp;&nbsp; 1598 | 63393 |
| Lattice Semiconductor Corp.<sup>(a)</sup> | &nbsp;&nbsp; 564 | 29892 |
| Leidos Holdings Inc. | &nbsp;&nbsp; 504 | 72778 |
| Lennar Corp., Class A | &nbsp;&nbsp; 1002 | 177284 |
| Lennox International Inc. | &nbsp;&nbsp; 141 | 82274 |
| Liberty Media Corp.-Liberty Formula One, NVS<sup>(a)</sup> | &nbsp;&nbsp; 828 | 66960 |
| Linde PLC | &nbsp;&nbsp; 1985 | 900198 |
| Live Nation Entertainment Inc.<sup>(a)</sup> | &nbsp;&nbsp; 692 | 66563 |
| LKQ Corp. | &nbsp;&nbsp; 1060 | 43990 |
| Lockheed Martin Corp. | &nbsp;&nbsp; 893 | 483935 |
| Loews Corp. | &nbsp;&nbsp; 781 | 62441 |
| Lowe's Companies Inc. | &nbsp;&nbsp; 2362 | 579895 |
| LPL Financial Holdings Inc. | &nbsp;&nbsp; 331 | 73323 |
| Lululemon Athletica Inc.<sup>(a)</sup> | &nbsp;&nbsp; 481 | 124415 |
| LyondellBasell Industries NV, Class A | &nbsp;&nbsp; 1104 | 109804 |
| M&T Bank Corp. | &nbsp;&nbsp; 664 | 114321 |
| Manhattan Associates Inc.<sup>(a)</sup> | &nbsp;&nbsp; 251 | 64100 |
| Marathon Oil Corp. | &nbsp;&nbsp; 2569 | 72060 |
| Marathon Petroleum Corp. | &nbsp;&nbsp; 1480 | 261990 |
| Markel Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 54 | 88498 |
| MarketAxess Holdings Inc. | &nbsp;&nbsp; 151 | 33753 |
| Marriott International Inc./MD, Class A | &nbsp;&nbsp; 1001 | 227527 |
| Marsh & McLennan Companies Inc. | &nbsp;&nbsp; 2023 | 450259 |
| Martin Marietta Materials Inc. | &nbsp;&nbsp; 264 | 156644 |
| Marvell Technology Inc. | &nbsp;&nbsp; 3619 | 242401 |
| Masco Corp. | &nbsp;&nbsp; 921 | 71700 |
| Mastercard Inc., Class A | &nbsp;&nbsp; 3435 | 1592844 |
| Match Group Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1193 | 45501 |
| McCormick & Co. Inc./MD, NVS | &nbsp;&nbsp; 1060 | 81631 |
| McDonald's Corp. | &nbsp;&nbsp; 2981 | 791157 |
| McKesson Corp. | &nbsp;&nbsp; 537 | 331340 |
| Medtronic PLC | &nbsp;&nbsp; 5520 | 443366 |
| MercadoLibre Inc.<sup>(a)</sup> | &nbsp;&nbsp; 190 | 317091 |
| Merck & Co. Inc. | &nbsp;&nbsp; 10464 | 1183792 |
| Meta Platforms Inc., Class A | &nbsp;&nbsp; 9050 | 4297212 |
| MetLife Inc. | &nbsp;&nbsp; 2478 | 190434 |
| Mettler-Toledo International Inc.<sup>(a)</sup> | &nbsp;&nbsp; 88 | 133851 |
| MGM Resorts International<sup>(a)</sup> | &nbsp;&nbsp; 972 | 41767 |
| Microchip Technology Inc. | &nbsp;&nbsp; 2267 | 201264 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Micron Technology Inc. | &nbsp;&nbsp; 4538 | $498363 |
| Microsoft Corp. | &nbsp;&nbsp; 29183 | 12208708 |
| MicroStrategy Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 62 | 100095 |
| Mid-America Apartment Communities Inc. | &nbsp;&nbsp; 457 | 63875 |
| Moderna Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1331 | 158682 |
| Molina Healthcare Inc.<sup>(a)</sup> | &nbsp;&nbsp; 236 | 80540 |
| Molson Coors Beverage Co., Class B | &nbsp;&nbsp; 782 | 41329 |
| Mondelez International Inc., Class A | &nbsp;&nbsp; 5558 | 379889 |
| MongoDB Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 295 | 74446 |
| Monolithic Power Systems Inc. | &nbsp;&nbsp; 198 | 170892 |
| Monster Beverage Corp.<sup>(a)</sup> | &nbsp;&nbsp; 3036 | 156202 |
| Moody's Corp. | &nbsp;&nbsp; 673 | 307211 |
| Morgan Stanley | &nbsp;&nbsp; 5088 | 525133 |
| Mosaic Co. (The) | &nbsp;&nbsp; 1323 | 39386 |
| Motorola Solutions Inc. | &nbsp;&nbsp; 689 | 274856 |
| MSCI Inc., Class A | &nbsp;&nbsp; 330 | 178451 |
| Nasdaq Inc. | &nbsp;&nbsp; 1669 | 112958 |
| NetApp Inc. | &nbsp;&nbsp; 823 | 104505 |
| Netflix Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1786 | 1122233 |
| Neurocrine Biosciences Inc.<sup>(a)</sup> | &nbsp;&nbsp; 377 | 53372 |
| Newmont Corp. | &nbsp;&nbsp; 4805 | 235781 |
| News Corp., Class A, NVS | &nbsp;&nbsp; 1571 | 43328 |
| NextEra Energy Inc. | &nbsp;&nbsp; 8417 | 642975 |
| Nike Inc., Class B | &nbsp;&nbsp; 5006 | 374749 |
| NiSource Inc. | &nbsp;&nbsp; 1900 | 59375 |
| Nordson Corp. | &nbsp;&nbsp; 222 | 55573 |
| Norfolk Southern Corp. | &nbsp;&nbsp; 920 | 229595 |
| Northern Trust Corp. | &nbsp;&nbsp; 799 | 70831 |
| Northrop Grumman Corp. | &nbsp;&nbsp; 591 | 286233 |
| NRG Energy Inc. | &nbsp;&nbsp; 877 | 65924 |
| Nucor Corp. | &nbsp;&nbsp; 970 | 158052 |
| Nvidia Corp. | &nbsp;&nbsp; 103355 | 12094602 |
| NVR Inc.<sup>(a)</sup> | &nbsp;&nbsp; 13 | 111897 |
| NXP Semiconductors NV | &nbsp;&nbsp; 1062 | 279476 |
| Occidental Petroleum Corp. | &nbsp;&nbsp; 2729 | 165978 |
| Okta Inc.<sup>(a)</sup> | &nbsp;&nbsp; 709 | 66603 |
| Old Dominion Freight Line Inc. | &nbsp;&nbsp; 806 | 169405 |
| Omnicom Group Inc. | &nbsp;&nbsp; 780 | 76471 |
| ON Semiconductor Corp.<sup>(a)</sup> | &nbsp;&nbsp; 1804 | 141163 |
| ONEOK Inc. | &nbsp;&nbsp; 2378 | 198159 |
| Oracle Corp. | &nbsp;&nbsp; 6797 | 947842 |
| O'Reilly Automotive Inc.<sup>(a)</sup> | &nbsp;&nbsp; 245 | 275953 |
| Otis Worldwide Corp. | &nbsp;&nbsp; 1710 | 161595 |
| Ovintiv Inc. | &nbsp;&nbsp; 1036 | 48112 |
| Owens Corning | &nbsp;&nbsp; 352 | 65606 |
| PACCAR Inc. | &nbsp;&nbsp; 2148 | 211922 |
| Packaging Corp. of America | &nbsp;&nbsp; 363 | 72553 |
| Palantir Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7802 | 209796 |
| Palo Alto Networks Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1337 | 434164 |
| Paramount Global, Class B, NVS | &nbsp;&nbsp; 1982 | 22634 |
| Parker-Hannifin Corp. | &nbsp;&nbsp; 531 | 297976 |
| Paychex Inc. | &nbsp;&nbsp; 1338 | 171291 |
| Paycom Software Inc. | &nbsp;&nbsp; 235 | 39196 |
| Paylocity Holding Corp.<sup>(a)</sup> | &nbsp;&nbsp; 164 | 24611 |
| PayPal Holdings Inc.<sup>(a)</sup> | &nbsp;&nbsp; 4116 | 270751 |
| Pentair PLC | &nbsp;&nbsp; 689 | 60542 |
| PepsiCo Inc. | &nbsp;&nbsp; 5672 | 979384 |
| Pfizer Inc. | &nbsp;&nbsp; 23313 | 711979 |
| PG&E Corp. | &nbsp;&nbsp; 8373 | 152807 |
| Philip Morris International Inc. | &nbsp;&nbsp; 6418 | 739097 |
| Phillips 66 | &nbsp;&nbsp; 1799 | 261719 |
| Pinterest Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 2508 | 80131 |

---

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| PNC Financial Services Group Inc. (The) | &nbsp;&nbsp; 1649 | $298634 |
| Pool Corp. | &nbsp;&nbsp; 156 | 58350 |
| PPG Industries Inc. | &nbsp;&nbsp; 968 | 122917 |
| PPL Corp. | &nbsp;&nbsp; 2964 | 88090 |
| Principal Financial Group Inc. | &nbsp;&nbsp; 942 | 76782 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp; 9716 | 1561944 |
| Progressive Corp. (The) | &nbsp;&nbsp; 2397 | 513246 |
| Prologis Inc. | &nbsp;&nbsp; 3862 | 486805 |
| Prudential Financial Inc. | &nbsp;&nbsp; 1518 | 190236 |
| PTC Inc.<sup>(a)</sup> | &nbsp;&nbsp; 517 | 91948 |
| Public Service Enterprise Group Inc. | &nbsp;&nbsp; 2081 | 166001 |
| Public Storage | &nbsp;&nbsp; 640 | 189389 |
| PulteGroup Inc. | &nbsp;&nbsp; 893 | 117876 |
| Pure Storage Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1280 | 76710 |
| Qorvo Inc.<sup>(a)</sup> | &nbsp;&nbsp; 377 | 45165 |
| Qualcomm Inc. | &nbsp;&nbsp; 4593 | 831103 |
| Quanta Services Inc. | &nbsp;&nbsp; 624 | 165597 |
| Quest Diagnostics Inc. | &nbsp;&nbsp; 436 | 62043 |
| Raymond James Financial Inc. | &nbsp;&nbsp; 868 | 100688 |
| Realty Income Corp. | &nbsp;&nbsp; 3598 | 206633 |
| Regency Centers Corp. | &nbsp;&nbsp; 803 | 54074 |
| Regeneron Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 443 | 478081 |
| Regions Financial Corp. | &nbsp;&nbsp; 4027 | 90084 |
| Reliance Inc. | &nbsp;&nbsp; 239 | 72790 |
| Repligen Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 210 | 35144 |
| Republic Services Inc., Class A | &nbsp;&nbsp; 916 | 177997 |
| ResMed Inc. | &nbsp;&nbsp; 596 | 127097 |
| Revvity Inc. | &nbsp;&nbsp; 545 | 68457 |
| Rivian Automotive Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp; 3268 | 53628 |
| Robinhood Markets Inc.<sup>(a)</sup> | &nbsp;&nbsp; 2188 | 45007 |
| ROBLOX Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1985 | 82417 |
| Rockwell Automation Inc. | &nbsp;&nbsp; 495 | 137932 |
| Roku Inc.<sup>(a)</sup> | &nbsp;&nbsp; 471 | 27417 |
| Rollins Inc. | &nbsp;&nbsp; 1250 | 59888 |
| Roper Technologies Inc. | &nbsp;&nbsp; 438 | 238601 |
| Ross Stores Inc. | &nbsp;&nbsp; 1393 | 199519 |
| Royal Caribbean Cruises Ltd.<sup>(a)</sup> | &nbsp;&nbsp; 1008 | 157974 |
| Royalty Pharma PLC, Class A | &nbsp;&nbsp; 1692 | 47664 |
| RPM International Inc. | &nbsp;&nbsp; 549 | 66682 |
| RTX Corp. | &nbsp;&nbsp; 5521 | 648662 |
| S&P Global Inc. | &nbsp;&nbsp; 1320 | 639844 |
| Salesforce Inc. | &nbsp;&nbsp; 4014 | 1038823 |
| Samsara Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 709 | 27141 |
| SBA Communications Corp., Class A | &nbsp;&nbsp; 430 | 94402 |
| Schlumberger NV | &nbsp;&nbsp; 5891 | 284476 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp; 860 | 87866 |
| SEI Investments Co. | &nbsp;&nbsp; 402 | 27272 |
| Sempra Energy | &nbsp;&nbsp; 2589 | 207275 |
| ServiceNow Inc.<sup>(a)</sup> | &nbsp;&nbsp; 847 | 689788 |
| Sherwin-Williams Co. (The) | &nbsp;&nbsp; 1009 | 353957 |
| Simon Property Group Inc. | &nbsp;&nbsp; 1371 | 210366 |
| Skyworks Solutions Inc. | &nbsp;&nbsp; 707 | 80329 |
| Snap Inc., Class A, NVS<sup>(a)</sup> | &nbsp;&nbsp; 4302 | 57303 |
| Snap-on Inc. | &nbsp;&nbsp; 237 | 68026 |
| Snowflake Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1244 | 162193 |
| Solventum Corp.<sup>(a)</sup> | &nbsp;&nbsp; 573 | 33738 |
| Southern Co. (The) | &nbsp;&nbsp; 4575 | 382104 |
| Southwest Airlines Co. | &nbsp;&nbsp; 642 | 17295 |
| SS&C Technologies Holdings Inc. | &nbsp;&nbsp; 921 | 67187 |
| Stanley Black & Decker Inc. | &nbsp;&nbsp; 643 | 67914 |
| Starbucks Corp. | &nbsp;&nbsp; 4701 | 366443 |
| State Street Corp. | &nbsp;&nbsp; 1227 | 104258 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Steel Dynamics Inc. | &nbsp;&nbsp; 641 | $85394 |
| STERIS PLC | &nbsp;&nbsp; 410 | 97892 |
| Stryker Corp. | &nbsp;&nbsp; 1415 | 463342 |
| Sun Communities Inc. | &nbsp;&nbsp; 476 | 60323 |
| Super Micro Computer Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 214 | 150153 |
| Synchrony Financial | &nbsp;&nbsp; 1802 | 91524 |
| Synopsys Inc.<sup>(a)</sup> | &nbsp;&nbsp; 627 | 350067 |
| Sysco Corp. | &nbsp;&nbsp; 2031 | 155676 |
| T Rowe Price Group Inc. | &nbsp;&nbsp; 921 | 105187 |
| Take-Two Interactive Software Inc.<sup>(a)</sup> | &nbsp;&nbsp; 659 | 99199 |
| Targa Resources Corp. | &nbsp;&nbsp; 877 | 118641 |
| Target Corp. | &nbsp;&nbsp; 1930 | 290291 |
| TE Connectivity Ltd. | &nbsp;&nbsp; 1295 | 199857 |
| Teledyne Technologies Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 188 | 79310 |
| Teleflex Inc. | &nbsp;&nbsp; 188 | 41533 |
| Teradyne Inc. | &nbsp;&nbsp; 664 | 87090 |
| Tesla Inc.<sup>(a)</sup> | &nbsp;&nbsp; 11862 | 2752814 |
| Texas Instruments Inc. | &nbsp;&nbsp; 3775 | 769383 |
| Texas Pacific Land Corp. | &nbsp;&nbsp; 84 | 70972 |
| Textron Inc. | &nbsp;&nbsp; 818 | 75992 |
| Thermo Fisher Scientific Inc. | &nbsp;&nbsp; 1587 | 973371 |
| TJX Companies Inc. (The) | &nbsp;&nbsp; 4724 | 533907 |
| T-Mobile U.S. Inc. | &nbsp;&nbsp; 2218 | 404297 |
| Toast Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp; 1463 | 38272 |
| Toro Co. (The) | &nbsp;&nbsp; 423 | 40494 |
| Tractor Supply Co. | &nbsp;&nbsp; 467 | 122970 |
| Trade Desk Inc. (The), Class A<sup>(a)</sup> | &nbsp;&nbsp; 1847 | 166008 |
| Tradeweb Markets Inc., Class A | &nbsp;&nbsp; 456 | 50926 |
| Trane Technologies PLC | &nbsp;&nbsp; 947 | 316563 |
| TransDigm Group Inc. | &nbsp;&nbsp; 230 | 297671 |
| TransUnion | &nbsp;&nbsp; 850 | 76721 |
| Travelers Companies Inc. (The) | &nbsp;&nbsp; 958 | 207350 |
| Trimble Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1060 | 57812 |
| Truist Financial Corp. | &nbsp;&nbsp; 5405 | 241549 |
| Twilio Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 711 | 42041 |
| Tyler Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 175 | 99419 |
| Tyson Foods Inc., Class A | &nbsp;&nbsp; 1133 | 69000 |
| U.S. Bancorp | &nbsp;&nbsp; 6461 | 289970 |
| Uber Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp; 7721 | 497773 |
| UDR Inc. | &nbsp;&nbsp; 1300 | 52091 |
| U-Haul Holding Co.<sup>(b)</sup> | &nbsp;&nbsp; 406 | 25874 |
| UiPath Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1459 | 17756 |
| Ulta Beauty Inc.<sup>(a)</sup> | &nbsp;&nbsp; 194 | 70789 |
| Union Pacific Corp. | &nbsp;&nbsp; 2500 | 616825 |
| United Parcel Service Inc., Class B | &nbsp;&nbsp; 2995 | 390458 |
| United Rentals Inc. | &nbsp;&nbsp; 282 | 213502 |
| United Therapeutics Corp.<sup>(a)</sup> | &nbsp;&nbsp; 188 | 58899 |
| UnitedHealth Group Inc. | &nbsp;&nbsp; 3812 | 2196322 |
| Unity Software Inc.<sup>(a)</sup> | &nbsp;&nbsp; 912 | 14920 |
| Universal Health Services Inc., Class B | &nbsp;&nbsp; 265 | 56646 |
| Valero Energy Corp. | &nbsp;&nbsp; 1340 | 216705 |
| Veeva Systems Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 640 | 122835 |
| Ventas Inc. | &nbsp;&nbsp; 1679 | 91405 |
| Veralto Corp. | &nbsp;&nbsp; 1056 | 112527 |
| VeriSign Inc.<sup>(a)</sup> | &nbsp;&nbsp; 377 | 70503 |
| Verisk Analytics Inc., Class A | &nbsp;&nbsp; 589 | 154171 |
| Verizon Communications Inc. | &nbsp;&nbsp; 17360 | 703427 |
| Vertex Pharmaceuticals Inc.<sup>(a)</sup> | &nbsp;&nbsp; 1074 | 532403 |
| Vertiv Holdings Co., Class A | &nbsp;&nbsp; 1533 | 120647 |
| Viatris Inc. | &nbsp;&nbsp; 4999 | 60288 |
| VICI Properties Inc., Class A | &nbsp;&nbsp; 4247 | 132761 |
| Visa Inc., Class A | &nbsp;&nbsp; 6555 | 1741467 |

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| Vistra Corp. | &nbsp;&nbsp; 1522 | $120573 |
| Vulcan Materials Co. | &nbsp;&nbsp; 549 | 150706 |
| W R Berkley Corp. | &nbsp;&nbsp; 1249 | 68857 |
| Walgreens Boots Alliance Inc. | &nbsp;&nbsp; 2963 | 35171 |
| Walmart Inc. | &nbsp;&nbsp; 18351 | 1259613 |
| Walt Disney Co. (The) | &nbsp;&nbsp; 7595 | 711576 |
| Warner Bros Discovery Inc.<sup>(a)</sup> | &nbsp;&nbsp; 9646 | 83438 |
| Waste Connections Inc. | &nbsp;&nbsp; 1060 | 188436 |
| Waste Management Inc. | &nbsp;&nbsp; 1649 | 334186 |
| Waters Corp.<sup>(a)(b)</sup> | &nbsp;&nbsp; 244 | 82052 |
| Watsco Inc. | &nbsp;&nbsp; 142 | 69508 |
| WEC Energy Group Inc. | &nbsp;&nbsp; 1293 | 111276 |
| Wells Fargo & Co. | &nbsp;&nbsp; 14714 | 873129 |
| Welltower Inc. | &nbsp;&nbsp; 2373 | 263996 |
| West Pharmaceutical Services Inc. | &nbsp;&nbsp; 308 | 94300 |
| Western Digital Corp.<sup>(a)</sup> | &nbsp;&nbsp; 1292 | 86629 |
| Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp; 739 | 119090 |
| Westlake Corp. | &nbsp;&nbsp; 154 | 22770 |
| Weyerhaeuser Co. | &nbsp;&nbsp; 3103 | 98551 |
| Williams Companies Inc. (The) | &nbsp;&nbsp; 4952 | 212639 |
| Williams-Sonoma Inc. | &nbsp;&nbsp; 498 | 77031 |
| Willis Towers Watson PLC | &nbsp;&nbsp; 434 | 122510 |
| Workday Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 863 | 196005 |
| WP Carey Inc. | &nbsp;&nbsp; 848 | 49023 |
| WW Grainger Inc. | &nbsp;&nbsp; 188 | 183640 |
| Wynn Resorts Ltd. | &nbsp;&nbsp; 390 | 32300 |
| Xcel Energy Inc. | &nbsp;&nbsp; 2279 | 132820 |
| Xylem Inc./New York | &nbsp;&nbsp; 1016 | 135636 |
| Yum! Brands Inc. | &nbsp;&nbsp; 1129 | 149965 |
| Zebra Technologies Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp; 198 | 69536 |
| Zillow Group Inc., Class C <sup>(a)(b)</sup> | &nbsp;&nbsp; 596 | 29025 |
| Zimmer Biomet Holdings Inc. | &nbsp;&nbsp; 828 | 92198 |
| Zoetis Inc. | &nbsp;&nbsp; 1893 | 340816 |
| Zoom Video Communications Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp; 1081 | 65292 |
| Zscaler Inc.<sup>(a)</sup> | &nbsp;&nbsp; 376 | 67436 |
|  |  | 199324480 |
| **Total Common Stocks — 99.7%** <br>**(Cost: $243,882,141)** | **Total Common Stocks — 99.7%** <br>**(Cost: $243,882,141)** | 261679587 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Germany — 0.1%** | **Germany — 0.1%** | **Germany — 0.1%** |
| Bayerische Motoren Werke AG, Preference Shares, NVS | &nbsp;&nbsp; 235 | 20147 |
| Dr Ing hc F Porsche AG, Preference Shares, NVS<sup>(c)</sup> | &nbsp;&nbsp; 455 | 34262 |
| Henkel AG & Co. KGaA, Preference Shares, NVS | &nbsp;&nbsp; 735 | 62873 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| Porsche Automobil Holding SE, Preference Shares, NVS | &nbsp;&nbsp; 642 | $28697 |
| Sartorius AG, Preference Shares, NVS | &nbsp;&nbsp; 104 | 29497 |
| Volkswagen AG, Preference Shares, NVS | &nbsp;&nbsp; 846 | 94416 |
|  |  | 269892 |
| **Total Preferred Stocks — 0.1%** <br>**(Cost: $440,408)** | **Total Preferred Stocks — 0.1%** <br>**(Cost: $440,408)** | 269892 |
| **Warrants** | **Warrants** | **Warrants** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| Constellation Software Inc., (Issued 08/29/23, 1 Share for <br> 1 Warrant, Expires 03/31/40, Strike Price CAD 11.50)<sup>(e)</sup><br>| &nbsp;&nbsp; 72 |  |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** |  |
| **Total Long-Term Investments — 99.8%** <br>**(Cost: $244,322,549)** | **Total Long-Term Investments — 99.8%** <br>**(Cost: $244,322,549)** | 261949479 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.4%** | **Money Market Funds — 0.4%** | **Money Market Funds — 0.4%** |
| BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 5.45%<sup>(d)(f)(g)</sup><br>| &nbsp;&nbsp; 774483 | 774793 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 5.29%<sup>(d)(f)</sup><br>| &nbsp;&nbsp; 240000 | 240000 |
| **Total Short-Term Securities — 0.4%** <br>**(Cost: $1,014,612)** | **Total Short-Term Securities — 0.4%** <br>**(Cost: $1,014,612)** | 1014793 |
| **Total Investments — 100.2%** <br>**(Cost: $245,337,161)** | **Total Investments — 100.2%** <br>**(Cost: $245,337,161)** | 262964272 |
| **Liabilities in Excess of Other Assets — (0.2)%** | **Liabilities in Excess of Other Assets — (0.2)%** | (517646)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $262446626 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> 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. 

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(f)</sup> Annualized 7-day yield as of period end.

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

2024 iShares Annual Financial Statements

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 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* <br>*07/31/23*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/24*<br>| *Shares* <br>*Held at* <br>*07/31/24*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $2208523 | $— | $(1432926 )<sup>(a)</sup><br>| &nbsp;&nbsp; $(139)<br>| $(665)<br>| $774793 | 774483 | $5762 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 280000 |  | (40000 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 240000 | 240000 | 14806 | &nbsp;&nbsp; — |
| BlackRock Inc. | 403412 | 133567 | (66474)<br>| &nbsp;&nbsp; (6428)<br>| 71465 | 535542 | 611 | 10304 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(6567)<br>| $70800 | $1550335 |  | $30872 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> 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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| Euro STOXX 50 Index | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; $159 | &nbsp;&nbsp; $(3057)<br>|
| S&P 500 E-Mini Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 09/20/24 | &nbsp;&nbsp; 278 | &nbsp;&nbsp; 2704 |
|  |  |  |  | &nbsp;&nbsp; $(353)<br>|

---

**Derivative Financial Instruments Categorized by Risk Exposure**

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Assets—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized appreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2704 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2704 |
| **Liabilities—Derivative Financial Instruments** |  |  |  |  |  |  |  |
| Futures contracts |  |  |  |  |  |  |  |
| Unrealized depreciation on futures contracts<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3057 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3057 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). 

For the period ended July 31, 2024, the effect of derivative financial instruments in the Statements of Operations was as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Commodity* <br>*Contracts*<br>| *Credit* <br>*Contracts*<br>| *Equity* <br>*Contracts*<br>| *Foreign* <br>*Currency* <br>*Exchange* <br>*Contracts*<br>| *Interest* <br>*Rate* <br>*Contracts*<br>| *Other* <br>*Contracts*<br>| *Total* |
| **Net Realized Gain (Loss) from** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $84030 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $84030 |
| **Net Change in Unrealized Appreciation (Depreciation) on** |  |  |  |  |  |  |  |
| Futures contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(32340)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(32340)<br>|

---

Schedule of Investments

------

Schedule of Investments (continued)

July 31, 2024

**iShares® MSCI Kokusai ETF**

**Average Quarterly Balances of Outstanding Derivative Financial Instruments** 

---

| | |
|:---|:---|
| Futures contracts: |  |
| Average notional value of contracts — long | &nbsp;&nbsp; $471899 |

---

For more information about the Fund's investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund's policy regarding valuation of financial instruments, refer to the Notes to 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 | &nbsp;&nbsp; $208800019 | &nbsp;&nbsp; $52879568 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $261679587 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 269892 | &nbsp;&nbsp; — | &nbsp;&nbsp; 269892 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Short-Term Securities  |  |  |  |  |
| Money Market Funds | &nbsp;&nbsp; 1014793 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1014793 |
|  | &nbsp;&nbsp; $209814812 | &nbsp;&nbsp; $53149460 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $262964272 |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| Assets  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; $2704 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2704 |
| Liabilities  |  |  |  |  |
| Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (3057)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (3057)<br>|
|  | &nbsp;&nbsp; $2704 | &nbsp;&nbsp; $(3057)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(353)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Assets and Liabilities

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>MSCI ACWI ETF <br>| &nbsp;&nbsp; iShares <br>MSCI ACWI <br> Low Carbon <br> Target ETF <br>| &nbsp;&nbsp; iShares <br>MSCI All Country <br> Asia ex Japan ETF <br>| &nbsp;&nbsp; iShares <br>MSCI Europe <br> Financials ETF <br>|
| **ASSETS** |  |  |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $18170414493 | $958811300 | $2354333020 | $1987141347 |
| Investments, at value—affiliated<sup>(c)</sup> | 164402148 | 11426216 | 36534699 | 1550000 |
| Cash |  | 7783 | 41397 | 2757 |
| Cash pledged for futures contracts | 587000 | 89000 |  |  |
| Foreign currency collateral pledged for futures contracts<sup>(d)</sup> |  |  |  | 636017 |
| Foreign currency, at value<sup>(e)</sup> | 11184568 | 969454 | 5289633 | 3385664 |
| Receivables: |  |  |  |  |
| Investments sold | 18428277 |  | 4335039 | 2231 |
| Securities lending income—affiliated | 39388 | 2802 | 23499 |  |
| Capital shares sold |  |  |  | 679940 |
| Dividends—unaffiliated | 17850581 | 1054979 | 9733564 |  |
| Dividends—affiliated | 50634 | 6271 | 65194 | 3532 |
| Tax reclaims | 8818845 | 422647 |  | 8507713 |
| Variation margin on futures contracts | 202785 | 34049 |  | 75565 |
| Total assets | 18391978719 | 972824501 | 2410356045 | 2001984766 |
| **LIABILITIES** |  |  |  |  |
| Bank overdraft | 8283306 |  |  |  |
| Collateral on securities loaned, at value | 132704215 | 8745072 | 19620768 |  |
| Payables: |  |  |  |  |
| Investments purchased | 416234 | 209 | 1415 | 2845482 |
| Capital shares redeemed | 3798382 |  | 301305 | 6342 |
| Deferred foreign capital gain tax | 21589543 | 1165668 | 29752457 |  |
| Foreign taxes | 276969 |  | 871823 |  |
| Investment advisory fees | 5090887 | 164136 | 1431968 | 763039 |
| Professional fees | 26147 |  |  | 12611 |
| Variation margin on futures contracts |  |  | 528 |  |
| Total liabilities | 172185683 | 10075085 | 51980264 | 3627474 |
| **Commitments and contingent liabilities** |  |  |  |  |
| NET ASSETS | $18219793036 | $962749416 | $2358375781 | $1998357292 |
| **NET ASSETS CONSIST OF** |  |  |  |  |
| Paid-in capital | $14876250541 | $852433228 | $2936506728 | $2098647744 |
| Accumulated earnings (loss) | 3343542495 | 110316188 | (578130947) | (100290452) |
| NET ASSETS | $18219793036 | $962749416 | $2358375781 | $1998357292 |
| **NET ASSET VALUE** |  |  |  |  |
| Shares outstanding | 159600000 | 5150000 | 32600000 | 85700000 |
| Net asset value | $114.16 | $186.94 | $72.34 | $23.32 |
| Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
| Par value |  |  |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $13538263811 | $758338200 | $2108410085 | $1859330407 |
| <sup>(b)</sup> Securities loaned, at value | $129212955 | $8654163 | $18506768 | $— |
| <sup>(c)</sup> Investments, at cost—affiliated | $156471162 | $11271827 | $36521518 | $1550000 |
| <sup>(d)</sup> Foreign currency collateral pledged, at cost | $— | $— | $— | $644124 |
| <sup>(e)</sup> Foreign currency, at cost | $11193314 | $975262 | $5288515 | $3376248 |

---

*See notes to financial statements.*

Statements of Assets and Liabilities

------

Statements of Assets and Liabilities (continued)

July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; iShares <br>MSCI Europe <br> Small-Cap <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI <br> Kokusai ETF <br>|
| **ASSETS** |  |  |
| Investments, at value—unaffiliated<sup>(a)(b)</sup> | $99471906 | $261413937 |
| Investments, at value—affiliated<sup>(c)</sup> | 3470235 | 1550335 |
| Cash | 5427 | 8893 |
| Cash pledged for futures contracts |  | 15000 |
| Foreign currency collateral pledged for futures contracts<sup>(d)</sup> | 41401 | 11905 |
| Foreign currency, at value<sup>(e)</sup> | 182612 | 91587 |
| Receivables: |  |  |
| Investments sold | 94148 | 6626 |
| Securities lending income—affiliated | 5711 | 169 |
| Dividends—unaffiliated | 99112 | 122580 |
| Dividends—affiliated | 140 | 984 |
| Tax reclaims | 328927 | 50503 |
| Variation margin on futures contracts | 5214 | 5182 |
| Total assets | 103704833 | 263277701 |
| **LIABILITIES** |  |  |
| Collateral on securities loaned, at value | 3443121 | 781396 |
| Payables: |  |  |
| Capital shares redeemed |  | 6630 |
| Investment advisory fees | 33498 | 43049 |
| Professional fees | 3550 |  |
| Total liabilities | 3480169 | 831075 |
| **Commitments and contingent liabilities** |  |  |
| NET ASSETS | $100224664 | $262446626 |
| **NET ASSETS CONSIST OF** |  |  |
| Paid-in capital | $150650245 | $273867871 |
| Accumulated loss | (50425581) | (11421245) |
| NET ASSETS | $100224664 | $262446626 |
| **NET ASSET VALUE** |  |  |
| Shares outstanding | 1700000 | 2350000 |
| Net asset value | $58.96 | $111.68 |
| Shares authorized | Unlimited | Unlimited |
| Par value |  |  |
| <sup>(a)</sup> Investments, at cost—unaffiliated | $126069594 | $243789110 |
| <sup>(b)</sup> Securities loaned, at value | $3284856 | $772574 |
| <sup>(c)</sup> Investments, at cost—affiliated | $3469197 | $1548051 |
| <sup>(d)</sup> Foreign currency collateral pledged, at cost | $42768 | $12931 |
| <sup>(e)</sup> Foreign currency, at cost | $182643 | $90636 |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Operations

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>MSCI ACWI ETF <br>| &nbsp;&nbsp; iShares <br>MSCI ACWI <br> Low Carbon <br> Target ETF <br>| &nbsp;&nbsp; iShares <br>MSCI All <br> Country Asia <br> ex Japan <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI Europe <br> Financials <br> ETF <br>|
| **INVESTMENT INCOME** |  |  |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $380806639 | &nbsp;&nbsp;&nbsp; $18727928 | &nbsp;&nbsp;&nbsp; $64421526 | &nbsp;&nbsp;&nbsp; $77030757 |
| Dividends—affiliated | &nbsp;&nbsp; 2349798 | &nbsp;&nbsp;&nbsp; 100879 | &nbsp;&nbsp;&nbsp; 685726 | &nbsp;&nbsp;&nbsp; 75602 |
| Interest—unaffiliated | &nbsp;&nbsp; 189414 | &nbsp;&nbsp;&nbsp; 9929 | &nbsp;&nbsp;&nbsp; 37434 | &nbsp;&nbsp;&nbsp; 46341 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 1038134 | &nbsp;&nbsp;&nbsp; 80845 | &nbsp;&nbsp;&nbsp; 425544 | &nbsp;&nbsp;&nbsp; 6776 |
| Other income—unaffiliated | &nbsp;&nbsp; 938407 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Foreign taxes withheld | &nbsp;&nbsp; (19454151)<br>| &nbsp;&nbsp;&nbsp; (1054507)<br>| &nbsp;&nbsp;&nbsp; (7269057)<br>| &nbsp;&nbsp;&nbsp; (6859807)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; 5665058 | &nbsp;&nbsp;&nbsp; 89621 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| IRS compliance fee for foreign withholding tax claims | &nbsp;&nbsp; 1798 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Other foreign taxes | &nbsp;&nbsp; (37063)<br>| &nbsp;&nbsp;&nbsp; (559)<br>| &nbsp;&nbsp;&nbsp; (64542)<br>| &nbsp;&nbsp;&nbsp; — |
| Total investment income | &nbsp;&nbsp; 371498034 | &nbsp;&nbsp;&nbsp; 17954136 | &nbsp;&nbsp;&nbsp; 58236631 | &nbsp;&nbsp;&nbsp; 70299669 |
| EXPENSES |  |  |  |  |
| Investment advisory | &nbsp;&nbsp; 58548495 | &nbsp;&nbsp;&nbsp; 1783718 | &nbsp;&nbsp;&nbsp; 17406459 | &nbsp;&nbsp;&nbsp; 6772499 |
| Professional | &nbsp;&nbsp; 672638 | &nbsp;&nbsp;&nbsp; 12750 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16289 |
| Commitment costs | &nbsp;&nbsp; 38715 | &nbsp;&nbsp;&nbsp; 3604 | &nbsp;&nbsp;&nbsp; 38622 | &nbsp;&nbsp;&nbsp; — |
| Interest expense | &nbsp;&nbsp; 9807 | &nbsp;&nbsp;&nbsp; 4841 | &nbsp;&nbsp;&nbsp; 24448 | &nbsp;&nbsp;&nbsp; — |
| Total expenses | &nbsp;&nbsp; 59269655 | &nbsp;&nbsp;&nbsp; 1804913 | &nbsp;&nbsp;&nbsp; 17469529 | &nbsp;&nbsp;&nbsp; 6788788 |
| Less: |  |  |  |  |
| Investment advisory fees waived | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (234301)<br>| &nbsp;&nbsp;&nbsp; — |
| Total expenses after fees waived | &nbsp;&nbsp; 59269655 | &nbsp;&nbsp;&nbsp; 1804913 | &nbsp;&nbsp;&nbsp; 17235228 | &nbsp;&nbsp;&nbsp; 6788788 |
| Net investment income | &nbsp;&nbsp; 312228379 | &nbsp;&nbsp;&nbsp; 16149223 | &nbsp;&nbsp;&nbsp; 41001403 | &nbsp;&nbsp;&nbsp; 63510881 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
| Net realized gain (loss) from: |  |  |  |  |
| Investments—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; (136607795)<br>| &nbsp;&nbsp;&nbsp; (12338555)<br>| &nbsp;&nbsp;&nbsp; (10196575)<br>| &nbsp;&nbsp;&nbsp; (25621802)<br>|
| Investments—affiliated | &nbsp;&nbsp; 2694 | &nbsp;&nbsp;&nbsp; (2799)<br>| &nbsp;&nbsp;&nbsp; 8417 | &nbsp;&nbsp;&nbsp; 1338 |
| Foreign currency transactions | &nbsp;&nbsp; (2081864)<br>| &nbsp;&nbsp;&nbsp; (115421)<br>| &nbsp;&nbsp;&nbsp; (769262)<br>| &nbsp;&nbsp;&nbsp; (231967)<br>|
| Futures contracts | &nbsp;&nbsp; 6892842 | &nbsp;&nbsp;&nbsp; 296366 | &nbsp;&nbsp;&nbsp; 78267 | &nbsp;&nbsp;&nbsp; 918854 |
| In-kind redemptions—unaffiliated<sup>(b)</sup> | &nbsp;&nbsp; 1256130498 | &nbsp;&nbsp;&nbsp; 24901564 | &nbsp;&nbsp;&nbsp; (53328046)<br>| &nbsp;&nbsp;&nbsp; 39791860 |
| In-kind redemptions—affiliated<sup>(b)</sup> | &nbsp;&nbsp; 2429311 | &nbsp;&nbsp;&nbsp; 43086 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; 1126765686 | &nbsp;&nbsp;&nbsp; 12784241 | &nbsp;&nbsp;&nbsp; (64207199)<br>| &nbsp;&nbsp;&nbsp; 14858283 |
| Net change in unrealized appreciation (depreciation) on: |  |  |  |  |
| Investments—unaffiliated<sup>(c)</sup> | &nbsp;&nbsp; 1478975590 | &nbsp;&nbsp;&nbsp; 119075338 | &nbsp;&nbsp;&nbsp; 81908290 | &nbsp;&nbsp;&nbsp; 169585532 |
| Investments—affiliated | &nbsp;&nbsp; 2930928 | &nbsp;&nbsp;&nbsp; 192844 | &nbsp;&nbsp;&nbsp; (7204)<br>| &nbsp;&nbsp;&nbsp; (313)<br>|
| Foreign currency translations | &nbsp;&nbsp; (269217)<br>| &nbsp;&nbsp;&nbsp; 4164 | &nbsp;&nbsp;&nbsp; (47333)<br>| &nbsp;&nbsp;&nbsp; 74620 |
| Futures contracts | &nbsp;&nbsp; (2688303)<br>| &nbsp;&nbsp;&nbsp; (115885)<br>| &nbsp;&nbsp;&nbsp; (622739)<br>| &nbsp;&nbsp;&nbsp; (233628)<br>|
|  | &nbsp;&nbsp; 1478948998 | &nbsp;&nbsp;&nbsp; 119156461 | &nbsp;&nbsp;&nbsp; 81231014 | &nbsp;&nbsp;&nbsp; 169426211 |
| Net realized and unrealized gain | &nbsp;&nbsp; 2605714684 | &nbsp;&nbsp;&nbsp; 131940702 | &nbsp;&nbsp;&nbsp; 17023815 | &nbsp;&nbsp;&nbsp; 184284494 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $2917943063 | &nbsp;&nbsp;&nbsp; $148089925 | &nbsp;&nbsp;&nbsp; $58025218 | &nbsp;&nbsp;&nbsp; $247795375 |
| <sup>(a)</sup> Net of foreign capital gain tax and capital gain tax refund, if applicable of | &nbsp;&nbsp; $(2148644)<br>| &nbsp;&nbsp;&nbsp; $(175254)<br>| &nbsp;&nbsp;&nbsp; $(4336597)<br>| &nbsp;&nbsp;&nbsp; $— |
| <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(b)</sup> See Note 2 of the Notes to Financial Statements. |
| <sup>(c)</sup> Net of increase in deferred foreign capital gain tax of | &nbsp;&nbsp; $(15003979)<br>| &nbsp;&nbsp;&nbsp; $(953482)<br>| &nbsp;&nbsp;&nbsp; $(20482484)<br>| &nbsp;&nbsp;&nbsp; $— |

---

*See notes to financial statements.*

Statements of Operations

------

Statements of Operations(continued)

Year Ended July 31, 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | iShares <br>MSCI Europe <br> Small-Cap <br> ETF <br>| &nbsp;&nbsp; iShares <br>MSCI <br> Kokusai ETF <br>|
| **INVESTMENT INCOME** |  |  |
| Dividends—unaffiliated | &nbsp;&nbsp; $3730146 | &nbsp;&nbsp;&nbsp; $3856691 |
| Dividends—affiliated | &nbsp;&nbsp; 3674 | &nbsp;&nbsp;&nbsp; 25110 |
| Interest—unaffiliated | &nbsp;&nbsp; 3482 | &nbsp;&nbsp;&nbsp; 2411 |
| Securities lending income—affiliated—net | &nbsp;&nbsp; 100547 | &nbsp;&nbsp;&nbsp; 5762 |
| Other income—unaffiliated | &nbsp;&nbsp; 6487 | &nbsp;&nbsp;&nbsp; 184447 |
| Foreign taxes withheld | &nbsp;&nbsp; (348172)<br>| &nbsp;&nbsp;&nbsp; (160056)<br>|
| Foreign withholding tax claims | &nbsp;&nbsp; 64163 | &nbsp;&nbsp;&nbsp; 491570 |
| Total investment income | &nbsp;&nbsp; 3560327 | &nbsp;&nbsp;&nbsp; 4405935 |
| EXPENSES |  |  |
| Investment advisory | &nbsp;&nbsp; 446610 | &nbsp;&nbsp;&nbsp; 489111 |
| Professional | &nbsp;&nbsp; 11548 | &nbsp;&nbsp;&nbsp; 67613 |
| Total expenses | &nbsp;&nbsp; 458158 | &nbsp;&nbsp;&nbsp; 556724 |
| Net investment income | &nbsp;&nbsp; 3102169 | &nbsp;&nbsp;&nbsp; 3849211 |
| **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |
| Net realized gain (loss) from: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; (7044160)<br>| &nbsp;&nbsp;&nbsp; (1918753)<br>|
| Investments—affiliated | &nbsp;&nbsp; 354 | &nbsp;&nbsp;&nbsp; (139)<br>|
| Foreign currency transactions | &nbsp;&nbsp; 3135 | &nbsp;&nbsp;&nbsp; (7688)<br>|
| Futures contracts | &nbsp;&nbsp; 90801 | &nbsp;&nbsp;&nbsp; 84030 |
| In-kind redemptions—unaffiliated<sup>(a)</sup> | &nbsp;&nbsp; 1162976 | &nbsp;&nbsp;&nbsp; 4409307 |
| In-kind redemptions—affiliated<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (6428)<br>|
|  | &nbsp;&nbsp; (5786894)<br>| &nbsp;&nbsp;&nbsp; 2560329 |
| Net change in unrealized appreciation (depreciation) on: |  |  |
| Investments—unaffiliated | &nbsp;&nbsp; 13936104 | &nbsp;&nbsp;&nbsp; 28222605 |
| Investments—affiliated | &nbsp;&nbsp; (62)<br>| &nbsp;&nbsp;&nbsp; 70800 |
| Foreign currency translations | &nbsp;&nbsp; (1700)<br>| &nbsp;&nbsp;&nbsp; (3063)<br>|
| Futures contracts | &nbsp;&nbsp; (22760)<br>| &nbsp;&nbsp;&nbsp; (32340)<br>|
|  | &nbsp;&nbsp; 13911582 | &nbsp;&nbsp;&nbsp; 28258002 |
| Net realized and unrealized gain | &nbsp;&nbsp; 8124688 | &nbsp;&nbsp;&nbsp; 30818331 |
| NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | &nbsp;&nbsp; $11226857 | &nbsp;&nbsp;&nbsp; $34667542 |
| <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. | <sup>(a)</sup> See Note 2 of the Notes to Financial Statements. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Changes in Net Assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>MSCI ACWI ETF  | iShares <br>MSCI ACWI ETF  | iShares <br>MSCI ACWI Low Carbon Target ETF  | iShares <br>MSCI ACWI Low Carbon Target ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $312228379 | &nbsp;&nbsp;&nbsp; $339696186 | &nbsp;&nbsp;&nbsp; $16149223 | &nbsp;&nbsp;&nbsp; $16979849 |
| Net realized gain | &nbsp;&nbsp; 1126765686 | &nbsp;&nbsp;&nbsp; 1269732738 | &nbsp;&nbsp;&nbsp; 12784241 | &nbsp;&nbsp;&nbsp; 2488511 |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 1478948998 | &nbsp;&nbsp;&nbsp; 576844350 | &nbsp;&nbsp;&nbsp; 119156461 | &nbsp;&nbsp;&nbsp; 80842922 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 2917943063 | &nbsp;&nbsp;&nbsp; 2186273274 | &nbsp;&nbsp;&nbsp; 148089925 | &nbsp;&nbsp;&nbsp; 100311282 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (334829881)<br>| &nbsp;&nbsp;&nbsp; (315032351)<br>| &nbsp;&nbsp;&nbsp; (17307311)<br>| &nbsp;&nbsp;&nbsp; (15702910)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net decrease in net assets derived from capital share transactions | &nbsp;&nbsp; (2792450541)<br>| &nbsp;&nbsp;&nbsp; (1569487274)<br>| &nbsp;&nbsp;&nbsp; (65241178)<br>| &nbsp;&nbsp;&nbsp; (94713446)<br>|
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (209337359)<br>| &nbsp;&nbsp;&nbsp; 301753649 | &nbsp;&nbsp;&nbsp; 65541436 | &nbsp;&nbsp;&nbsp; (10105074)<br>|
| Beginning of year | &nbsp;&nbsp; 18429130395 | &nbsp;&nbsp;&nbsp; 18127376746 | &nbsp;&nbsp;&nbsp; 897207980 | &nbsp;&nbsp;&nbsp; 907313054 |
| End of year | &nbsp;&nbsp; $18219793036 | &nbsp;&nbsp;&nbsp; $18429130395 | &nbsp;&nbsp;&nbsp; $962749416 | &nbsp;&nbsp;&nbsp; $897207980 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>MSCI All Country Asia ex Japan ETF  | iShares <br>MSCI All Country Asia ex Japan ETF  | iShares <br>MSCI Europe Financials ETF  | iShares <br>MSCI Europe Financials ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $41001403 | &nbsp;&nbsp;&nbsp; $52404701 | &nbsp;&nbsp;&nbsp; $63510881 | &nbsp;&nbsp;&nbsp; $66329701 |
| Net realized gain (loss) | &nbsp;&nbsp; (64207199)<br>| &nbsp;&nbsp;&nbsp; (301681139)<br>| &nbsp;&nbsp;&nbsp; 14858283 | &nbsp;&nbsp;&nbsp; (40296686)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 81231014 | &nbsp;&nbsp;&nbsp; 359262891 | &nbsp;&nbsp;&nbsp; 169426211 | &nbsp;&nbsp;&nbsp; 357670156 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 58025218 | &nbsp;&nbsp;&nbsp; 109986453 | &nbsp;&nbsp;&nbsp; 247795375 | &nbsp;&nbsp;&nbsp; 383703171 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (49412364)<br>| &nbsp;&nbsp;&nbsp; (50273411)<br>| &nbsp;&nbsp;&nbsp; (72839498)<br>| &nbsp;&nbsp;&nbsp; (63365245)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (560432173)<br>| &nbsp;&nbsp;&nbsp; (497708960)<br>| &nbsp;&nbsp;&nbsp; 262848542 | &nbsp;&nbsp;&nbsp; 268062230 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (551819319)<br>| &nbsp;&nbsp;&nbsp; (437995918)<br>| &nbsp;&nbsp;&nbsp; 437804419 | &nbsp;&nbsp;&nbsp; 588400156 |
| Beginning of year | &nbsp;&nbsp; 2910195100 | &nbsp;&nbsp;&nbsp; 3348191018 | &nbsp;&nbsp;&nbsp; 1560552873 | &nbsp;&nbsp;&nbsp; 972152717 |
| End of year | &nbsp;&nbsp; $2358375781 | &nbsp;&nbsp;&nbsp; $2910195100 | &nbsp;&nbsp;&nbsp; $1998357292 | &nbsp;&nbsp;&nbsp; $1560552873 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Statements of Changes in Net Assets(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iShares <br>MSCI Europe Small-Cap ETF  | iShares <br>MSCI Europe Small-Cap ETF  | iShares <br>MSCI Kokusai ETF  | iShares <br>MSCI Kokusai ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>|
| *INCREASE (DECREASE) IN NET ASSETS* |  |  |  |  |
| **OPERATIONS** |  |  |  |  |
| Net investment income | &nbsp;&nbsp; $3102169 | &nbsp;&nbsp;&nbsp; $3510766 | &nbsp;&nbsp;&nbsp; $3849211 | &nbsp;&nbsp;&nbsp; $3276510 |
| Net realized gain (loss) | &nbsp;&nbsp; (5786894)<br>| &nbsp;&nbsp;&nbsp; (7280741)<br>| &nbsp;&nbsp;&nbsp; 2560329 | &nbsp;&nbsp;&nbsp; (1895412)<br>|
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 13911582 | &nbsp;&nbsp;&nbsp; 11889543 | &nbsp;&nbsp;&nbsp; 28258002 | &nbsp;&nbsp;&nbsp; 22438764 |
| Net increase in net assets resulting from operations | &nbsp;&nbsp; 11226857 | &nbsp;&nbsp;&nbsp; 8119568 | &nbsp;&nbsp;&nbsp; 34667542 | &nbsp;&nbsp;&nbsp; 23819862 |
| **DISTRIBUTIONS TO SHAREHOLDERS**<sup>(a)</sup> <br>|  |  |  |  |
| Decrease in net assets resulting from distributions to shareholders | &nbsp;&nbsp; (3372535)<br>| &nbsp;&nbsp;&nbsp; (3109383)<br>| &nbsp;&nbsp;&nbsp; (3767810)<br>| &nbsp;&nbsp;&nbsp; (3368028)<br>|
| **CAPITAL SHARE TRANSACTIONS** |  |  |  |  |
| Net increase (decrease) in net assets derived from capital share transactions | &nbsp;&nbsp; (36261715)<br>| &nbsp;&nbsp;&nbsp; 14444402 | &nbsp;&nbsp;&nbsp; 30967918 | &nbsp;&nbsp;&nbsp; 12882742 |
| *NET ASSETS* |  |  |  |  |
| Total increase (decrease) in net assets | &nbsp;&nbsp; (28407393)<br>| &nbsp;&nbsp;&nbsp; 19454587 | &nbsp;&nbsp;&nbsp; 61867650 | &nbsp;&nbsp;&nbsp; 33334576 |
| Beginning of year | &nbsp;&nbsp; 128632057 | &nbsp;&nbsp;&nbsp; 109177470 | &nbsp;&nbsp;&nbsp; 200578976 | &nbsp;&nbsp;&nbsp; 167244400 |
| End of year | &nbsp;&nbsp; $100224664 | &nbsp;&nbsp;&nbsp; $128632057 | &nbsp;&nbsp;&nbsp; $262446626 | &nbsp;&nbsp;&nbsp; $200578976 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations.

*See notes to financial statements.*

Statements of Changes in Net Assets

------

Financial Highlights

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI ACWI ETF  | iShares MSCI ACWI ETF  | iShares MSCI ACWI ETF  | iShares MSCI ACWI ETF  | iShares MSCI ACWI ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $99.29 | &nbsp;&nbsp;&nbsp; $89.65 | &nbsp;&nbsp;&nbsp; $101.96 | &nbsp;&nbsp;&nbsp; $77.73 | &nbsp;&nbsp;&nbsp; $73.94 |
| Net investment income<sup>(a)</sup> | 1.75 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.72 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.72 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.42 | &nbsp;&nbsp;&nbsp;&nbsp;1.48 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 15.02 | &nbsp;&nbsp;&nbsp;&nbsp;9.55 | &nbsp;&nbsp;&nbsp; (12.09)<br>| &nbsp;&nbsp;&nbsp;&nbsp;24.22 | &nbsp;&nbsp;&nbsp;&nbsp;3.87 |
| Net increase (decrease) from investment operations | 16.77 | &nbsp;&nbsp;&nbsp;&nbsp;11.27 | &nbsp;&nbsp;&nbsp; (10.37)<br>| &nbsp;&nbsp;&nbsp;&nbsp;25.64 | &nbsp;&nbsp;&nbsp;&nbsp;5.35 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.90)<br>| &nbsp;&nbsp;&nbsp; (1.63)<br>| &nbsp;&nbsp;&nbsp; (1.94)<br>| &nbsp;&nbsp;&nbsp; (1.41)<br>| &nbsp;&nbsp;&nbsp; (1.56)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $114.16 | &nbsp;&nbsp;&nbsp; $99.29 | &nbsp;&nbsp;&nbsp; $89.65 | &nbsp;&nbsp;&nbsp; $101.96 | &nbsp;&nbsp;&nbsp; $77.73 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 17.06 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.75 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (10.30 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 33.14<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.29<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>|
| Total expenses after fees waived | 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.31<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.31<br> %<br>|
| Net investment income | 1.70 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.93 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.77 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.55<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.01<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $18219793 | &nbsp;&nbsp;&nbsp; $18429130 | &nbsp;&nbsp;&nbsp; $18127377 | &nbsp;&nbsp;&nbsp; $16965824 | &nbsp;&nbsp;&nbsp; $12033016 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 6<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 ,July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03, $0.01 and $0.02.<br> • Total return by 0.03%, 0.01% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03%, 0.01% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 ,July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03, $0.01 and $0.02.<br> • Total return by 0.03%, 0.01% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03%, 0.01% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 ,July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03, $0.01 and $0.02.<br> • Total return by 0.03%, 0.01% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03%, 0.01% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 ,July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03, $0.01 and $0.02.<br> • Total return by 0.03%, 0.01% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03%, 0.01% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 ,July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03, $0.01 and $0.02.<br> • Total return by 0.03%, 0.01% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03%, 0.01% and 0.02%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 ,July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03, $0.01 and $0.02.<br> • Total return by 0.03%, 0.01% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.03%, 0.01% and 0.02%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI ACWI Low Carbon Target ETF  | iShares MSCI ACWI Low Carbon Target ETF  | iShares MSCI ACWI Low Carbon Target ETF  | iShares MSCI ACWI Low Carbon Target ETF  | iShares MSCI ACWI Low Carbon Target ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $161.66 | &nbsp;&nbsp;&nbsp; $146.34 | &nbsp;&nbsp;&nbsp; $167.23 | &nbsp;&nbsp;&nbsp; $127.09 | &nbsp;&nbsp;&nbsp; $120.26 |
| Net investment income<sup>(a)</sup> | 3.04 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.86 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;2.83 | &nbsp;&nbsp;&nbsp;&nbsp;2.49 | &nbsp;&nbsp;&nbsp;&nbsp;2.49 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 25.57 | &nbsp;&nbsp;&nbsp;&nbsp;15.18 | &nbsp;&nbsp;&nbsp; (20.67)<br>| &nbsp;&nbsp;&nbsp;&nbsp;39.88 | &nbsp;&nbsp;&nbsp;&nbsp;6.91 |
| Net increase (decrease) from investment operations | 28.61 | &nbsp;&nbsp;&nbsp;&nbsp;18.04 | &nbsp;&nbsp;&nbsp; (17.84)<br>| &nbsp;&nbsp;&nbsp;&nbsp;42.37 | &nbsp;&nbsp;&nbsp;&nbsp;9.40 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (3.33)<br>| &nbsp;&nbsp;&nbsp; (2.72)<br>| &nbsp;&nbsp;&nbsp; (3.05)<br>| &nbsp;&nbsp;&nbsp; (2.23)<br>| &nbsp;&nbsp;&nbsp; (2.57)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $186.94 | &nbsp;&nbsp;&nbsp; $161.66 | &nbsp;&nbsp;&nbsp; $146.34 | &nbsp;&nbsp;&nbsp; $167.23 | &nbsp;&nbsp;&nbsp; $127.09 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 17.91 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 12.50 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (10.78)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 33.48<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.88<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.20<br> %<br>|
| Net investment income | 1.81 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.97 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.76<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.64<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.07<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $962749 | &nbsp;&nbsp;&nbsp; $897208 | &nbsp;&nbsp;&nbsp; $907313 | &nbsp;&nbsp;&nbsp; $861219 | &nbsp;&nbsp;&nbsp; $432095 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp; 19<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 12<br> %<br>| &nbsp;&nbsp;&nbsp; 15<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.01.<br> • Total return by 0.01% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.01% and 0.00%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.01.<br> • Total return by 0.01% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.01% and 0.00%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.01.<br> • Total return by 0.01% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.01% and 0.00%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.01.<br> • Total return by 0.01% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.01% and 0.00%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.01.<br> • Total return by 0.01% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.01% and 0.00%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 and <br> July 31, 2023 respectively:<br> • Net investment income per share by $0.01 and $0.01.<br> • Total return by 0.01% and 0.00%.<br> • Ratio of net investment income to average net assets by 0.01% and 0.00%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI All Country Asia ex Japan ETF  | iShares MSCI All Country Asia ex Japan ETF  | iShares MSCI All Country Asia ex Japan ETF  | iShares MSCI All Country Asia ex Japan ETF  | iShares MSCI All Country Asia ex Japan ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<sup>(a)</sup> <br>| &nbsp;&nbsp; Year Ended <br>07/31/21<sup>(a)</sup> <br>| &nbsp;&nbsp; Year Ended <br>07/31/20<sup>(a)</sup> <br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $70.64 | &nbsp;&nbsp;&nbsp; $68.05 | &nbsp;&nbsp;&nbsp; $87.65 | &nbsp;&nbsp;&nbsp; $75.15 | &nbsp;&nbsp;&nbsp; $68.54 |
| Net investment income<sup>(b)</sup> | 1.13 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;1.20 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 1.94 | &nbsp;&nbsp;&nbsp;&nbsp;2.58 | &nbsp;&nbsp;&nbsp; (18.91)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12.46 | &nbsp;&nbsp;&nbsp;&nbsp;6.61 |
| Net increase (decrease) from investment operations | 3.07 | &nbsp;&nbsp;&nbsp;&nbsp;3.77 | &nbsp;&nbsp;&nbsp; (17.72)<br>| &nbsp;&nbsp;&nbsp;&nbsp;13.46 | &nbsp;&nbsp;&nbsp;&nbsp;7.81 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.37)<br>| &nbsp;&nbsp;&nbsp; (1.18)<br>| &nbsp;&nbsp;&nbsp; (1.88)<br>| &nbsp;&nbsp;&nbsp; (0.96)<br>| &nbsp;&nbsp;&nbsp; (1.20)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $72.34 | &nbsp;&nbsp;&nbsp; $70.64 | &nbsp;&nbsp;&nbsp; $68.05 | &nbsp;&nbsp;&nbsp; $87.65 | &nbsp;&nbsp;&nbsp; $75.15 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 4.60<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5.64<br> %<br>| &nbsp;&nbsp;&nbsp; (20.51)%<br>| &nbsp;&nbsp;&nbsp;&nbsp; 17.88<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 11.52<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.72<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.69<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.69<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> %<br>|
| Total expenses after fees waived | 0.71<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.69<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.69<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.70<br> %<br>|
| Net investment income | 1.69<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.80<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.49<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.12<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.75<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $2358376 | &nbsp;&nbsp;&nbsp; $2910195 | &nbsp;&nbsp;&nbsp; $3348191 | &nbsp;&nbsp;&nbsp; $5574503 | &nbsp;&nbsp;&nbsp; $4043280 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp; 15<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>| &nbsp;&nbsp;&nbsp; 31<br> %<br>| &nbsp;&nbsp;&nbsp; 23<br> %<br>|
| <sup>(a)</sup> Consolidated Financial Highlights. | <sup>(a)</sup> Consolidated Financial Highlights. | <sup>(a)</sup> Consolidated Financial Highlights. | <sup>(a)</sup> Consolidated Financial Highlights. | <sup>(a)</sup> Consolidated Financial Highlights. | <sup>(a)</sup> Consolidated Financial Highlights. |
| <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. | <sup>(b)</sup> Based on average shares outstanding. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI Europe Financials ETF  | iShares MSCI Europe Financials ETF  | iShares MSCI Europe Financials ETF  | iShares MSCI Europe Financials ETF  | iShares MSCI Europe Financials ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $20.12 | &nbsp;&nbsp;&nbsp; $15.91 | &nbsp;&nbsp;&nbsp; $19.64 | &nbsp;&nbsp;&nbsp; $14.48 | &nbsp;&nbsp;&nbsp; $17.53 |
| Net investment income<sup>(a)</sup> | 0.95 | &nbsp;&nbsp;&nbsp;&nbsp; 0.86 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.86 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;0.48 | &nbsp;&nbsp;&nbsp;&nbsp;0.31 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 3.34 | &nbsp;&nbsp;&nbsp;&nbsp;4.15 | &nbsp;&nbsp;&nbsp; (3.51)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.17 | &nbsp;&nbsp;&nbsp; (3.01)<br>|
| Net increase (decrease) from investment operations | 4.29 | &nbsp;&nbsp;&nbsp;&nbsp;5.01 | &nbsp;&nbsp;&nbsp; (2.65)<br>| &nbsp;&nbsp;&nbsp;&nbsp;5.65 | &nbsp;&nbsp;&nbsp; (2.70)<br>|
| **Distributions**<sup>(d)</sup> <br>|  |  |  |  |  |
| From net investment income | &nbsp;&nbsp; (1.09)<br>| &nbsp;&nbsp;&nbsp; (0.80)<br>| &nbsp;&nbsp;&nbsp; (1.07)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp;&nbsp; (0.35)<br>|
| Return of capital | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.01)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Total distributions | &nbsp;&nbsp; (1.09)<br>| &nbsp;&nbsp;&nbsp; (0.80)<br>| &nbsp;&nbsp;&nbsp; (1.08)<br>| &nbsp;&nbsp;&nbsp; (0.49)<br>| &nbsp;&nbsp;&nbsp; (0.35)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $23.32 | &nbsp;&nbsp;&nbsp; $20.12 | &nbsp;&nbsp;&nbsp; $15.91 | &nbsp;&nbsp;&nbsp; $19.64 | &nbsp;&nbsp;&nbsp; $14.48 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 21.74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 31.94 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (13.92 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 38.98<br> %<br>| &nbsp;&nbsp;&nbsp; (15.62)%<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.48<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.51<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.49<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.48<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.48<br> %<br>| &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 4.50<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.80 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 4.51 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.68<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.90<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $1998357 | &nbsp;&nbsp;&nbsp; $1560553 | &nbsp;&nbsp;&nbsp; $972153 | &nbsp;&nbsp;&nbsp; $1546012 | &nbsp;&nbsp;&nbsp; $718923 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 5<br> %<br>| &nbsp;&nbsp;&nbsp; 12<br> %<br>| &nbsp;&nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 5<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023 and <br> July 31, 2022 respectively:<br> • Net investment income per share by $0.05 and $0.01.<br> • Total return by 0.30% and 0.07%.<br> • Ratio of net investment income to average net assets by 0.26% and 0.05%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023 and <br> July 31, 2022 respectively:<br> • Net investment income per share by $0.05 and $0.01.<br> • Total return by 0.30% and 0.07%.<br> • Ratio of net investment income to average net assets by 0.26% and 0.05%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023 and <br> July 31, 2022 respectively:<br> • Net investment income per share by $0.05 and $0.01.<br> • Total return by 0.30% and 0.07%.<br> • Ratio of net investment income to average net assets by 0.26% and 0.05%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023 and <br> July 31, 2022 respectively:<br> • Net investment income per share by $0.05 and $0.01.<br> • Total return by 0.30% and 0.07%.<br> • Ratio of net investment income to average net assets by 0.26% and 0.05%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023 and <br> July 31, 2022 respectively:<br> • Net investment income per share by $0.05 and $0.01.<br> • Total return by 0.30% and 0.07%.<br> • Ratio of net investment income to average net assets by 0.26% and 0.05%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2023 and <br> July 31, 2022 respectively:<br> • Net investment income per share by $0.05 and $0.01.<br> • Total return by 0.30% and 0.07%.<br> • Ratio of net investment income to average net assets by 0.26% and 0.05%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI Europe Small-Cap ETF  | iShares MSCI Europe Small-Cap ETF  | iShares MSCI Europe Small-Cap ETF  | iShares MSCI Europe Small-Cap ETF  | iShares MSCI Europe Small-Cap ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $54.74 | &nbsp;&nbsp;&nbsp; $51.99 | &nbsp;&nbsp;&nbsp; $71.59 | &nbsp;&nbsp;&nbsp; $49.62 | &nbsp;&nbsp;&nbsp; $49.09 |
| Net investment income<sup>(a)</sup> | 1.50 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.59 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.15 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.25 | &nbsp;&nbsp;&nbsp;&nbsp;0.81 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 4.52 | &nbsp;&nbsp;&nbsp;&nbsp;2.53 | &nbsp;&nbsp;&nbsp; (18.54)<br>| &nbsp;&nbsp;&nbsp;&nbsp;21.87 | &nbsp;&nbsp;&nbsp;&nbsp;0.68 |
| Net increase (decrease) from investment operations | 6.02 | &nbsp;&nbsp;&nbsp;&nbsp;4.12 | &nbsp;&nbsp;&nbsp; (17.39)<br>| &nbsp;&nbsp;&nbsp;&nbsp;23.12 | &nbsp;&nbsp;&nbsp;&nbsp;1.49 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.80)<br>| &nbsp;&nbsp;&nbsp; (1.37)<br>| &nbsp;&nbsp;&nbsp; (2.21)<br>| &nbsp;&nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp;&nbsp; (0.96)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $58.96 | &nbsp;&nbsp;&nbsp; $54.74 | &nbsp;&nbsp;&nbsp; $51.99 | &nbsp;&nbsp;&nbsp; $71.59 | &nbsp;&nbsp;&nbsp; $49.62 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 11.18 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.07 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (24.65 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 46.76<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2.98<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.41<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.40<br> %<br>| &nbsp;&nbsp;&nbsp; N/A | &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 2.78 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.11 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.74 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.98<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.67<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $100225 | &nbsp;&nbsp;&nbsp; $128632 | &nbsp;&nbsp;&nbsp; $109177 | &nbsp;&nbsp;&nbsp; $443861 | &nbsp;&nbsp;&nbsp; $124046 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 13<br> %<br>| &nbsp;&nbsp;&nbsp; 16<br> %<br>| &nbsp;&nbsp;&nbsp; 14<br> %<br>| &nbsp;&nbsp;&nbsp; 20<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03 , $0.07 and $0.01.<br> • Total return by 0.06% , 0.13% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.13% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03 , $0.07 and $0.01.<br> • Total return by 0.06% , 0.13% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.13% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03 , $0.07 and $0.01.<br> • Total return by 0.06% , 0.13% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.13% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03 , $0.07 and $0.01.<br> • Total return by 0.06% , 0.13% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.13% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03 , $0.07 and $0.01.<br> • Total return by 0.06% , 0.13% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.13% and 0.01%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.03 , $0.07 and $0.01.<br> • Total return by 0.06% , 0.13% and 0.02%.<br> • Ratio of net investment income to average net assets by 0.05%, 0.13% and 0.01%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

2024 iShares Annual Financial Statements

------

Financial Highlights(continued)

(For a share outstanding throughout each period)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | iShares MSCI Kokusai ETF  | iShares MSCI Kokusai ETF  | iShares MSCI Kokusai ETF  | iShares MSCI Kokusai ETF  | iShares MSCI Kokusai ETF  |
|  | Year Ended <br>07/31/24<br>| &nbsp;&nbsp; Year Ended <br>07/31/23<br>| &nbsp;&nbsp; Year Ended <br>07/31/22<br>| &nbsp;&nbsp; Year Ended <br>07/31/21<br>| &nbsp;&nbsp; Year Ended <br>07/31/20<br>|
| **Net asset value, beginning of year** | &nbsp;&nbsp; $95.51 | &nbsp;&nbsp;&nbsp; $85.77 | &nbsp;&nbsp;&nbsp; $96.92 | &nbsp;&nbsp;&nbsp; $72.42 | &nbsp;&nbsp;&nbsp; $68.33 |
| Net investment income<sup>(a)</sup> | 1.97 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.60 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.32 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.32 |
| Net realized and unrealized gain (loss)<sup>(c)</sup> | 16.18 | &nbsp;&nbsp;&nbsp;&nbsp;9.80 | &nbsp;&nbsp;&nbsp; (9.44)<br>| &nbsp;&nbsp;&nbsp;&nbsp;24.61 | &nbsp;&nbsp;&nbsp;&nbsp;4.06 |
| Net increase (decrease) from investment operations | 18.15 | &nbsp;&nbsp;&nbsp;&nbsp;11.40 | &nbsp;&nbsp;&nbsp; (8.12)<br>| &nbsp;&nbsp;&nbsp;&nbsp;25.92 | &nbsp;&nbsp;&nbsp;&nbsp;5.38 |
| Distributions from net investment income<sup>(d)</sup> | &nbsp;&nbsp; (1.98)<br>| &nbsp;&nbsp;&nbsp; (1.66)<br>| &nbsp;&nbsp;&nbsp; (3.03)<br>| &nbsp;&nbsp;&nbsp; (1.42)<br>| &nbsp;&nbsp;&nbsp; (1.29)<br>|
| **Net asset value, end of year** | &nbsp;&nbsp; $111.68 | &nbsp;&nbsp;&nbsp; $95.51 | &nbsp;&nbsp;&nbsp; $85.77 | &nbsp;&nbsp;&nbsp; $96.92 | &nbsp;&nbsp;&nbsp; $72.42 |
| **Total Return**<sup>(e)</sup> <br>|  |  |  |  |  |
| Based on net asset value | 19.20 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 13.50 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; (8.46 )%<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 36.01<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7.94<br> %<br>|
| **Ratios to Average Net Assets**<sup>(f)</sup> <br>|  |  |  |  |  |
| Total expenses | 0.28<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.26<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>|
| Total expenses excluding professional fees for foreign withholding tax claims | 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>| &nbsp;&nbsp;&nbsp; N/A |
| Net investment income | 1.97 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.87 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.39 %<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.53<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1.93<br> %<br>|
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of year (000) | &nbsp;&nbsp; $262447 | &nbsp;&nbsp;&nbsp; $200579 | &nbsp;&nbsp;&nbsp; $167244 | &nbsp;&nbsp;&nbsp; $484592 | &nbsp;&nbsp;&nbsp; $152085 |
| Portfolio turnover rate<sup>(g)</sup> | &nbsp;&nbsp; 4<br> %<br>| &nbsp;&nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 9<br> %<br>| &nbsp;&nbsp;&nbsp; 3<br> %<br>| &nbsp;&nbsp;&nbsp; 4<br> %<br>|
| <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. | <sup>(a)</sup> Based on average shares outstanding. |
| <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.22, $0.07 and $0.03.<br> • Total return by 0.19%, 0.08% and 0.08%.<br> • Ratio of net investment income to average net assets by 0.22% , 0.08% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.22, $0.07 and $0.03.<br> • Total return by 0.19%, 0.08% and 0.08%.<br> • Ratio of net investment income to average net assets by 0.22% , 0.08% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.22, $0.07 and $0.03.<br> • Total return by 0.19%, 0.08% and 0.08%.<br> • Ratio of net investment income to average net assets by 0.22% , 0.08% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.22, $0.07 and $0.03.<br> • Total return by 0.19%, 0.08% and 0.08%.<br> • Ratio of net investment income to average net assets by 0.22% , 0.08% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.22, $0.07 and $0.03.<br> • Total return by 0.19%, 0.08% and 0.08%.<br> • Ratio of net investment income to average net assets by 0.22% , 0.08% and 0.04%. | <sup>(b)</sup> Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended July 31, 2024 , July 31, <br> 2023 and July 31, 2022 respectively:<br> • Net investment income per share by $0.22, $0.07 and $0.03.<br> • Total return by 0.19%, 0.08% and 0.08%.<br> • Ratio of net investment income to average net assets by 0.22% , 0.08% and 0.04%. |
| <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. | <sup>(c)</sup> The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share <br> transactions in relation to the fluctuating market values of the Fund's underlying securities. |
| <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | <sup>(d)</sup> Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. | <sup>(e)</sup> Where applicable, assumes the reinvestment of distributions. |
| <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | <sup>(f)</sup> Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. | <sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions, if any. |

---

*See notes to financial statements.*

Financial Highlights

------

*Notes to Financial Statements* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***1. ORGANIZATION***

iShares Trust (the "Trust") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a "Fund" and collectively, the "Funds"):

---

| | |
|:---|:---|
| *iShares ETF* | *Diversification* <br>*Classification* <br>|
| MSCI ACWI | &nbsp;&nbsp; Diversified |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; Diversified |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; Diversified |
| MSCI Europe Financials | &nbsp;&nbsp; Diversified |
| MSCI Europe Small-Cap | &nbsp;&nbsp; Diversified |
| MSCI Kokusai | &nbsp;&nbsp; Diversified |

---

***2. SIGNIFICANT ACCOUNTING POLICIES***

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

**Investment Transactions and Income Recognition:** For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Dividends from foreign securities where the ex-dividend date may have passed are subsequently recorded when the Funds are informed of the ex-dividend date. Under the applicable foreign tax laws, a withholding tax at various rates may be imposed on capital gains, dividends and interest. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

**Foreign Currency Translation:** Each Fund's books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

**Foreign Taxes:** The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as "Other foreign taxes", and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of July 31, 2024, if any, are disclosed in the Statements of Assets and Liabilities.

The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. The Statements of Operations include tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.

**Bank Overdraft:** Certain Funds had outstanding cash disbursements exceeding deposited cash amounts at the custodian during the reporting period. The Funds are obligated to repay the custodian for any overdraft, including any related costs or expenses, where applicable. For financial reporting purposes, overdraft fees, if any, are included in interest expense in the Statements of Operations.

**Collateralization:** If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

**In-kind Redemptions:** For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds' tax year. These reclassifications have no effect on net assets or net asset value ("NAV") per share.

**Distributions:** Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income, net realized capital gains and/or return of capital for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds.

The portion of distributions that exceeds each Fund's current and accumulated earnings and profits will constitute a non-taxable return of capital. Distributions in excess of each Fund's minimum distribution requirements, but not in excess of the Fund's earnings and profits, will be taxable to the Fund's shareholders and will not constitute non-taxable returns of capital. Return of capital distributions will reduce a shareholder's cost basis and will result in higher capital gains or lower capital losses when each Fund's shares on which distributions were received are sold. Once a shareholder's cost basis is reduced to zero, further distributions will be treated as capital gains.

**Indemnifications:** In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds' maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

***3. INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS***

**Investment Valuation Policies:** Each Fund's investments are valued at fair value (also referred to as "market value" within the financial statements) each day that the Fund's listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the "Board") of each Fund has approved the designation of BlackRock Fund Advisors ("BFA"), the Funds' investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA's policies. If a security's market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA's policies and procedures as reflecting fair value. BFA has formed a committee (the "Valuation Committee") to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

**Fair Value Inputs and Methodologies:** The following methods and inputs are used to establish the fair value of each Fund's assets and liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity investments traded on a recognized securities exchange are valued at that day's official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

&nbsp;&nbsp;&nbsp;&nbsp;• Investments in open-end U.S. mutual funds (including money market funds) are valued at that day's published NAV.

&nbsp;&nbsp;&nbsp;&nbsp;• Futures contracts are valued based on that day's last reported settlement or trade price on the exchange where the contract is traded.

Generally, trading in foreign instruments is substantially completed each day at various times prior to the close of trading on the New York Stock Exchange ("NYSE"). Each business day, the Funds use current market factors supplied by independent pricing services to value certain foreign instruments ("Systematic Fair Value Price"). The Systematic Fair Value Price is designed to value such foreign securities at fair value as of the close of trading on the NYSE, which follows the close of the local markets.

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA's policies and procedures as reflecting fair value ("Fair Valued Investments"). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm's-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.

Fair value pricing could result in a difference between the prices used to calculate a fund's NAV and the prices used by the fund's underlying index, which in turn could result in a difference between the fund's performance and the performance of the fund's underlying index.

**Fair Value Hierarchy:** 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:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 that may not have a secondary market and/or may have 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.

***4. SECURITIES AND OTHER INVESTMENTS***

**Warrants:** Warrants entitle a fund to purchase a specified number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date of the warrants, if any. If the price of the underlying stock does not rise above the strike price before the warrant expires, the warrant generally expires without any value and a fund will lose any amount it paid for the warrant. Thus, investments in warrants may involve more risk than investments in common stock. Warrants may trade in the same markets as their underlying stock; however, the price of the warrant does not necessarily move with the price of the underlying stock.

**Securities Lending:** Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund's Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an "MSLA") which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty's bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties' obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party's net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned* <br>*at Value*<br>| &nbsp;&nbsp; *Cash Collateral* <br>*Received*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Non-Cash Collateral* <br>*Received, at Fair Value*<sup>(a)</sup> <br>| *Net Amount* |
| MSCI ACWI |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $1226609 | &nbsp;&nbsp;&nbsp; $(1226609) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Barclays Capital, Inc. | &nbsp;&nbsp; 264594 | &nbsp;&nbsp;&nbsp; (264594) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BMO Capital Markets Corp. | &nbsp;&nbsp; 147420 | &nbsp;&nbsp;&nbsp; (147420) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BNP Paribas SA | &nbsp;&nbsp; 1785416 | &nbsp;&nbsp;&nbsp; (1785416) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 3355146 | &nbsp;&nbsp;&nbsp; (3355146) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citadel Clearing LLC | &nbsp;&nbsp; 459317 | &nbsp;&nbsp;&nbsp; (459317) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 14902789 | &nbsp;&nbsp;&nbsp; (14771916) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 130873<sup>(b)</sup> <br>|
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 5651715 | &nbsp;&nbsp;&nbsp; (5651715) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 77401 | &nbsp;&nbsp;&nbsp; (77401) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 17992599 | &nbsp;&nbsp;&nbsp; (17992599) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 520977 | &nbsp;&nbsp;&nbsp; (520977) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Macquarie Bank Ltd. | &nbsp;&nbsp; 418388 | &nbsp;&nbsp;&nbsp; (418388) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 19344052 | &nbsp;&nbsp;&nbsp; (19344052) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| National Financial Services LLC | &nbsp;&nbsp; 376128 | &nbsp;&nbsp;&nbsp; (376128) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Nomura Securities International, Inc. | &nbsp;&nbsp; 731886 | &nbsp;&nbsp;&nbsp; (731886) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 155444 | &nbsp;&nbsp;&nbsp; (155444) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 7015103 | &nbsp;&nbsp;&nbsp; (7015103) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 53052405 | &nbsp;&nbsp;&nbsp; (53052405) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 931122 | &nbsp;&nbsp;&nbsp; (931122) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 801215 | &nbsp;&nbsp;&nbsp; (801215) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Securities LLC | &nbsp;&nbsp; 3229 | &nbsp;&nbsp;&nbsp; (3229) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $129212955 | &nbsp;&nbsp;&nbsp; $(129082082) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $130873 |
| MSCI ACWI Low Carbon Target |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $259557 | &nbsp;&nbsp;&nbsp; $(250396) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $9161<sup>(b)</sup> <br>|
| Barclays Capital, Inc. | &nbsp;&nbsp; 65709 | &nbsp;&nbsp;&nbsp; (65709) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 104177 | &nbsp;&nbsp;&nbsp; (103418) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 759<sup>(b)</sup> <br>|
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 449843 | &nbsp;&nbsp;&nbsp; (449843) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 416286 | &nbsp;&nbsp;&nbsp; (416286) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 17297 | &nbsp;&nbsp;&nbsp; (17297) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 45708 | &nbsp;&nbsp;&nbsp; (45708) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 183189 | &nbsp;&nbsp;&nbsp; (183189) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 16877 | &nbsp;&nbsp;&nbsp; (16877) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 5718015 | &nbsp;&nbsp;&nbsp; (5718015) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 1001340 | &nbsp;&nbsp;&nbsp; (994468) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6872<sup>(b)</sup> <br>|
| Wells Fargo Securities LLC | &nbsp;&nbsp; 376165 | &nbsp;&nbsp;&nbsp; (376165) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $8654163 | &nbsp;&nbsp;&nbsp; $(8637371) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $16792 |
| MSCI All Country Asia ex Japan |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $340831 | &nbsp;&nbsp;&nbsp; $(340831) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 676399 | &nbsp;&nbsp;&nbsp; (676399) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 1461849 | &nbsp;&nbsp;&nbsp; (1461849) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 3947160 | &nbsp;&nbsp;&nbsp; (3947160) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 22603 | &nbsp;&nbsp;&nbsp; (22603) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Jefferies LLC | &nbsp;&nbsp; 608173 | &nbsp;&nbsp;&nbsp; (608173) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 9006568 | &nbsp;&nbsp;&nbsp; (9006568) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| RBC Capital Markets LLC | &nbsp;&nbsp; 154668 | &nbsp;&nbsp;&nbsp; (151082) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3586<sup>(b)</sup> <br>|
| SG Americas Securities LLC | &nbsp;&nbsp; 1936498 | &nbsp;&nbsp;&nbsp; (1936498) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 352019 | &nbsp;&nbsp;&nbsp; (352019) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $18506768 | &nbsp;&nbsp;&nbsp; $(18503182) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $3586 |

---

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF and Counterparty* | *Securities Loaned*<br> *at Value*<br>| &nbsp;&nbsp; *Cash Collateral*<br> *Received*<sup>(a)</sup><br>| &nbsp;&nbsp; *Non-Cash Collateral*<br> *Received, at Fair Value*<sup>(a)</sup><br>| *Net Amount* |
| MSCI Europe Small-Cap |  |  |  |  |
| Barclays Capital, Inc. | &nbsp;&nbsp; $176156 | &nbsp;&nbsp;&nbsp; $(176156) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 8463 | &nbsp;&nbsp;&nbsp; (8463) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| BofA Securities, Inc. | &nbsp;&nbsp; 313280 | &nbsp;&nbsp;&nbsp; (313280) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 29734 | &nbsp;&nbsp;&nbsp; (29734) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 1454343 | &nbsp;&nbsp;&nbsp; (1454343) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 480560 | &nbsp;&nbsp;&nbsp; (480560) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 757948 | &nbsp;&nbsp;&nbsp; (757948) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| SG Americas Securities LLC | &nbsp;&nbsp; 35206 | &nbsp;&nbsp;&nbsp; (35206) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| UBS AG | &nbsp;&nbsp; 29166 | &nbsp;&nbsp;&nbsp; (29166) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp; $3284856 | &nbsp;&nbsp;&nbsp; $(3284856) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| MSCI Kokusai |  |  |  |  |
| Barclays Bank PLC | &nbsp;&nbsp; $19502 | &nbsp;&nbsp;&nbsp; $(19502) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| BNP Paribas SA | &nbsp;&nbsp; 70165 | &nbsp;&nbsp;&nbsp; (67400) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2765<sup>(b)</sup> <br>|
| BofA Securities, Inc. | &nbsp;&nbsp; 81056 | &nbsp;&nbsp;&nbsp; (80867) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 189<sup>(b)</sup> <br>|
| Citigroup Global Markets, Inc. | &nbsp;&nbsp; 74528 | &nbsp;&nbsp;&nbsp; (74528) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Goldman Sachs & Co. LLC | &nbsp;&nbsp; 36510 | &nbsp;&nbsp;&nbsp; (36510) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| HSBC Bank PLC | &nbsp;&nbsp; 55360 | &nbsp;&nbsp;&nbsp; (55360) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| J.P. Morgan Securities LLC | &nbsp;&nbsp; 16887 | &nbsp;&nbsp;&nbsp; (16887) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 10273 | &nbsp;&nbsp;&nbsp; (10273) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| National Financial Services LLC | &nbsp;&nbsp; 42186 | &nbsp;&nbsp;&nbsp; (42186) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| State Street Bank & Trust Co. | &nbsp;&nbsp; 21618 | &nbsp;&nbsp;&nbsp; (21618) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Toronto-Dominion Bank | &nbsp;&nbsp; 23006 | &nbsp;&nbsp;&nbsp; (22496) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 510<sup>(b)</sup> <br>|
| Wells Fargo Bank N.A. | &nbsp;&nbsp; 321483 | &nbsp;&nbsp;&nbsp; (318048) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3435<sup>(b)</sup> <br>|
|  | &nbsp;&nbsp; $772574 | &nbsp;&nbsp;&nbsp; $(765675) | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $6899 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund's Statements of Assets and Liabilities. 

<sup>(b)</sup> The market value of the loaned securities is determined as of July 31, 2024. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by a counterparty. 

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. ("BlackRock"). BlackRock's indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

***5. DERIVATIVE FINANCIAL INSTRUMENTS***

**Futures Contracts:** Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract's size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.

Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract ("variation margin"). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.

2024 iShares Annual Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***6. INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES***

**Investment Advisory Fees:** Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund's assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to the iShares MSCI ACWI ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund's allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

---

| | |
|:---|:---|
| *Aggregate Average Daily Net Assets* | *Investment Advisory Fees* |
| First $30 billion | 0.350% |
| Over $30 billion, up to and including $60 billion | 0.320 |
| Over $60 billion, up to and including $90 billion | 0.280 |
| Over $90 billion, up to and including $120 billion | 0.252 |
| Over $120 billion, up to and including $150 billion | 0.227 |
| Over $150 billion | 0.204 |

---

For its investment advisory services to each of the following Funds, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Investment Advisory Fees* |
| MSCI ACWI Low Carbon Target | 0.20% |
| MSCI Europe Financials | 0.48 |
| MSCI Europe Small-Cap | 0.40 |
| MSCI Kokusai | 0.25 |

---

For its investment advisory services to the iShares MSCI All Country Asia ex Japan ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund's allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

---

| | |
|:---|:---|
| *Aggregate Average Daily Net Assets* | *Investment Advisory Fees* |
| First $14 billion | 0.75% |
| Over $14 billion, up to and including $28 billion | 0.68 |
| Over $28 billion, up to and including $42 billion | 0.61 |
| Over $42 billion, up to and including $56 billion | 0.54 |
| Over $56 billion, up to and including $70 billion | 0.47 |
| Over $70 billion, up to and including $84 billion | 0.41 |
| Over $84 billion | 0.35 |

---

**Expense Waivers:** A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies ("acquired fund fees and expenses"). The total of the investment advisory fee and acquired fund fees and expenses, if any, is a fund's total annual operating expenses. Total expenses as shown in the Statements of Operations does not include acquired fund fees and expenses.

For each of the iShares MSCI ACWI and iShares MSCI All Country Asia ex Japan ETFs, BFA has contractually agreed to waive a portion of its investment advisory fee for the Funds through November 30, 2026 in an amount equal to the acquired fund fees and expenses, if any, attributable to each Fund's investments in other iShares funds.

For year ended July 31, 2024, there were no fees waived by BFA pursuant to these arrangements.

BFA may from time to time voluntarily waive and/or reimburse fees or expenses in order to limit total annual fund operating expenses (excluding acquired fund fees and expenses, if any). Effective April 8, 2024, for the iShares MSCI All Country Asia ex Japan ETF, BFA has elected to implement a voluntary fee waiver in order to limit the Fund's total annual operating expenses after fee waiver to 0.69% and currently intends to keep such voluntary fee waiver for the Fund in place through November 28, 2025.

These amounts are included in investment advisory fees waived in the Statements of Operations. For the year ended July 31, 2024, the amounts waived in investment advisory fees pursuant to these arrangements were as follows:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts Waived* |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; $234301 |

---

**Distributor:** BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

**Securities Lending:** The U.S. Securities and Exchange Commission (the "SEC") has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. ("BTC"), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the "collateral investment fees"). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, redemption fee, distribution fee or service fee. The money market fund in which the cash collateral has been invested may impose a discretionary liquidity fee of up to 2% of the value redeemed, if such fee is determined to be in the best interests of such money market fund.

Securities lending income is generally equal to the total of income earned from the reinvestment of cash collateral (and excludes collateral investment fees), and any fees or other payments to and from borrowers of securities. Each Fund retains a portion of the securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, the iShares MSCI Kokusai ETF (the "Group 1 Fund"), retains 81% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

Pursuant to the current securities lending agreement, each of iShares MSCI ACWI ETF, iShares MSCI ACWI Low Carbon Target ETF, iShares MSCI All Country Asia ex Japan ETF, iShares MSCI Europe Financials ETF and iShares MSCI Europe Small-Cap ETF (the "Group 2 Funds"), retains 82% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the "iShares ETF Complex") in a given calendar year exceeds a specified threshold: (1) the Group 1 Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 81% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees, and (2) each Group 2 Fund will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the year ended July 31, 2024, the Funds paid BTC the following amounts for securities lending agent services:

---

| | |
|:---|:---|
| *iShares ETF* | *Amounts* |
| MSCI ACWI | &nbsp;&nbsp; $302235 |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; 20635 |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; 98399 |
| MSCI Europe Financials | &nbsp;&nbsp; 1307 |
| MSCI Europe Small-Cap | &nbsp;&nbsp; 22599 |
| MSCI Kokusai | &nbsp;&nbsp; 1854 |

---

**Officers and Trustees:** Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

**Other Transactions:** Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the year ended July 31, 2024, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

---

| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* | &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>|
| MSCI ACWI | &nbsp;&nbsp; $118948510 | &nbsp;&nbsp;&nbsp; $84239509 | &nbsp;&nbsp;&nbsp; $(43104644) |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; 77654684 | &nbsp;&nbsp;&nbsp; 92262064 | &nbsp;&nbsp;&nbsp; (5452967) |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; 11184536 | &nbsp;&nbsp;&nbsp; 15742289 | &nbsp;&nbsp;&nbsp; (25123594) |
| MSCI Europe Financials | &nbsp;&nbsp; 14083804 | &nbsp;&nbsp;&nbsp; 12145995 | &nbsp;&nbsp;&nbsp; (4901493) |
| MSCI Europe Small-Cap | &nbsp;&nbsp; 3740050 | &nbsp;&nbsp;&nbsp; 6537327 | &nbsp;&nbsp;&nbsp; 1788690 |
| MSCI Kokusai | &nbsp;&nbsp; 1526727 | &nbsp;&nbsp;&nbsp; 431879 | &nbsp;&nbsp;&nbsp; (537151) |

---

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund's underlying index.

2024 iShares Annual Financial Statements

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*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***7. PURCHASES AND SALES***

For the year ended July 31, 2024, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

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| | | |
|:---|:---|:---|
| *iShares ETF* | *Purchases* | *Sales* |
| MSCI ACWI | &nbsp;&nbsp; $863040224 | &nbsp;&nbsp;&nbsp; $783798112 |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; 210134020 | &nbsp;&nbsp;&nbsp; 218476364 |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; 258405945 | &nbsp;&nbsp;&nbsp; 594655718 |
| MSCI Europe Financials | &nbsp;&nbsp; 138751134 | &nbsp;&nbsp;&nbsp; 71702904 |
| MSCI Europe Small-Cap | &nbsp;&nbsp; 17636748 | &nbsp;&nbsp;&nbsp; 17279074 |
| MSCI Kokusai | &nbsp;&nbsp; 8375654 | &nbsp;&nbsp;&nbsp; 7558734 |

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For the year ended July 31, 2024, in-kind transactions were as follows:

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| | | |
|:---|:---|:---|
| *iShares ETF* | *In-kind* <br>*Purchases*<br>| &nbsp;&nbsp; *In-kind* <br>*Sales*<br>|
| MSCI ACWI | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $2849036131 |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; 7722646 | &nbsp;&nbsp;&nbsp; 65612248 |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; 11948493 | &nbsp;&nbsp;&nbsp; 262799078 |
| MSCI Europe Financials | &nbsp;&nbsp; 595732518 | &nbsp;&nbsp;&nbsp; 409249630 |
| MSCI Europe Small-Cap | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 35549810 |
| MSCI Kokusai | &nbsp;&nbsp; 64585224 | &nbsp;&nbsp;&nbsp; 34067772 |

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***8. INCOME TAX INFORMATION***

Each Fund is treated as an entity separate from the Trust's other funds for federal income tax purposes. It is each Fund's policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of July 31, 2024, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds' financial statements.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of July 31, 2024, permanent differences attributable to nondeductible expenses and realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

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| | | |
|:---|:---|:---|
| *iShares ETF* | *Paid-in Capital* | &nbsp;&nbsp; *Accumulated* <br>*Earnings (Loss)*<br>|
| MSCI ACWI | &nbsp;&nbsp; $1246593867 | &nbsp;&nbsp;&nbsp; $(1246593867) |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; 24713738 | &nbsp;&nbsp;&nbsp; (24713738) |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; (55467479) | &nbsp;&nbsp;&nbsp; 55467479 |
| MSCI Europe Financials | &nbsp;&nbsp; 35338367 | &nbsp;&nbsp;&nbsp; (35338367) |
| MSCI Europe Small-Cap | &nbsp;&nbsp; 822392 | &nbsp;&nbsp;&nbsp; (822392) |
| MSCI Kokusai | &nbsp;&nbsp; 4246895 | &nbsp;&nbsp;&nbsp; (4246895) |

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The tax character of distributions paid was as follows:

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| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended* <br>*07/31/24*<br>| &nbsp;&nbsp; *Year Ended* <br>*07/31/23*<br>|
| MSCI ACWI |  |  |
| Ordinary income | &nbsp;&nbsp; $334829881 | &nbsp;&nbsp;&nbsp; $315032351 |
| MSCI ACWI Low Carbon Target |  |  |
| Ordinary income | &nbsp;&nbsp; $17307311 | &nbsp;&nbsp;&nbsp; $15702910 |
| MSCI All Country Asia ex Japan |  |  |
| Ordinary income | &nbsp;&nbsp; $49412364 | &nbsp;&nbsp;&nbsp; $50273411 |
| MSCI Europe Financials |  |  |
| Ordinary income | &nbsp;&nbsp; $72839498 | &nbsp;&nbsp;&nbsp; $63365245 |
| MSCI Europe Small-Cap |  |  |
| Ordinary income | &nbsp;&nbsp; $3372535 | &nbsp;&nbsp;&nbsp; $3109383 |

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Notes to Financial Statements

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*Notes to Financial Statements* (continued)

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| | | |
|:---|:---|:---|
| *iShares ETF* | *Year Ended*<br> *07/31/24*<br>| &nbsp;&nbsp; *Year Ended*<br> *07/31/23*<br>|
| MSCI Kokusai |  |  |
| Ordinary income | &nbsp;&nbsp; $3767810 | &nbsp;&nbsp;&nbsp; $3368028 |

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As of July 31, 2024, the tax components of accumulated net earnings (losses) were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Undistributed* <br>*Ordinary Income*<br>| &nbsp;&nbsp; *Non-expiring* <br>*Capital Loss* <br>*Carryforwards*<sup>(a)</sup> <br>| &nbsp;&nbsp; *Net Unrealized* <br>*Gains (Losses)*<sup>(b)</sup> <br>| *Total* |
| MSCI ACWI | &nbsp;&nbsp; $71210762 | &nbsp;&nbsp;&nbsp; $(1229458403) | &nbsp;&nbsp;&nbsp; $4501790136 | &nbsp;&nbsp;&nbsp; $3343542495 |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; 5471368 | &nbsp;&nbsp;&nbsp; (89043142) | &nbsp;&nbsp;&nbsp; 193887962 | &nbsp;&nbsp;&nbsp; 110316188 |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; 24361689 | &nbsp;&nbsp;&nbsp; (889842681) | &nbsp;&nbsp;&nbsp; 287350045 | &nbsp;&nbsp;&nbsp; (578130947) |
| MSCI Europe Financials | &nbsp;&nbsp; 20764861 | &nbsp;&nbsp;&nbsp; (218142185) | &nbsp;&nbsp;&nbsp; 97086872 | &nbsp;&nbsp;&nbsp; (100290452) |
| MSCI Europe Small-Cap | &nbsp;&nbsp; 506702 | &nbsp;&nbsp;&nbsp; (22424410) | &nbsp;&nbsp;&nbsp; (28507873) | &nbsp;&nbsp;&nbsp; (50425581) |
| MSCI Kokusai | &nbsp;&nbsp; 374576 | &nbsp;&nbsp;&nbsp; (28937555) | &nbsp;&nbsp;&nbsp; 17141734 | &nbsp;&nbsp;&nbsp; (11421245) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amounts available to offset future realized capital gains.

<sup>(b)</sup> The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain futures contracts, the timing and recognition of partnership income, the characterization of corporate actions, the realization for tax purposes of unrealized gains on investments in passive foreign investment companies, the timing and recognition of realized gains/losses for tax purposes and undistributed capital gains from underlying REIT investments. 

For the year ended July 31, 2024, the iShares MSCI All Country Asia ex Japan ETF utilized $818,723 of its capital loss carryforwards.

A fund may own shares in certain foreign investment entities, referred to, under U.S. tax law, as "passive foreign investment companies." Such fund may elect to mark-to-market annually the shares of each passive foreign investment company and would be required to distribute to shareholders any such marked-to-market gains.

As of July 31, 2024, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| *iShares ETF* | *Tax Cost* | &nbsp;&nbsp; *Gross Unrealized* <br>*Appreciation*<br>| &nbsp;&nbsp; *Gross Unrealized* <br>*Depreciation*<br>| &nbsp;&nbsp; *Net Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| MSCI ACWI | &nbsp;&nbsp; $13811430447 | &nbsp;&nbsp;&nbsp; $5722042132 | &nbsp;&nbsp;&nbsp; $(1198655938) | &nbsp;&nbsp;&nbsp; $4523386194 |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; 775190150 | &nbsp;&nbsp;&nbsp; 246134267 | &nbsp;&nbsp;&nbsp; (51086901) | &nbsp;&nbsp;&nbsp; 195047366 |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; 2073753081 | &nbsp;&nbsp;&nbsp; 918815095 | &nbsp;&nbsp;&nbsp; (601700457) | &nbsp;&nbsp;&nbsp; 317114638 |
| MSCI Europe Financials | &nbsp;&nbsp; 1891660693 | &nbsp;&nbsp;&nbsp; 175629352 | &nbsp;&nbsp;&nbsp; (78598698) | &nbsp;&nbsp;&nbsp; 97030654 |
| MSCI Europe Small-Cap | &nbsp;&nbsp; 131449667 | &nbsp;&nbsp;&nbsp; 8959993 | &nbsp;&nbsp;&nbsp; (37467519) | &nbsp;&nbsp;&nbsp; (28507526) |
| MSCI Kokusai | &nbsp;&nbsp; 245823264 | &nbsp;&nbsp;&nbsp; 40601132 | &nbsp;&nbsp;&nbsp; (23460124) | &nbsp;&nbsp;&nbsp; 17141008 |

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***9. LINE OF CREDIT***

The iShares MSCI ACWI, iShares MSCI ACWI Low Carbon Target and iShares MSCI All Country Asia ex Japan ETFs, along with certain other iShares funds ("Participating Funds"), are parties to a $800 million credit agreement ("Syndicated Credit Agreement") with a group of lenders, which expires on October 16, 2024. The line of credit may be used for temporary or emergency purposes, including redemptions, settlement of trades and rebalancing of portfolio holdings in certain target markets. The Funds may borrow up to the aggregate commitment amount subject to asset coverage and other limitations as specified in the Syndicated Credit Agreement. The Syndicated Credit Agreement has the following terms: a commitment fee of 0.15% per annum on the unused portion of the credit agreement and interest at a rate equal to the higher of (a) Daily Simple Secured Overnight Financing Rate ("SOFR") plus 0.10% and 1.00% per annum or (b) the U.S. Federal Funds rate plus 1.00% per annum on amounts borrowed. The commitment fee is generally allocated to each Participating Fund based on the lesser of a Participating Fund's relative exposure to certain target markets or a Participating Fund's maximum borrowing amount as set forth by the terms of the Syndicated Credit Agreement.

For the year ended July 31, 2024, the maximum amount borrowed, the average daily borrowing and the weighted average interest rate, if any, under the Syndicated Credit Agreement were as follows:

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| | | | |
|:---|:---|:---|:---|
| *iShares ETF* | *Maximum* <br>*Amount* <br>*Borrowed*<br>| &nbsp;&nbsp; *Average* <br>*Borrowing*<br>| &nbsp;&nbsp; *Weighted* <br>*Average* <br>*Interest Rates* <br>|
| MSCI ACWI | &nbsp;&nbsp; $13700000 | &nbsp;&nbsp;&nbsp; $149727 | &nbsp;&nbsp;&nbsp;&nbsp;6.44% |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; 2938753 | &nbsp;&nbsp;&nbsp; 33210 | &nbsp;&nbsp;&nbsp;&nbsp;6.46 |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; 14510000 | &nbsp;&nbsp;&nbsp; 373590 | &nbsp;&nbsp;&nbsp;&nbsp;6.43 |

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2024 iShares Annual Financial Statements

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*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***10. PRINCIPAL RISKS***

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund's prospectus provides details of the risks to which the Fund is subject.

BFA uses an indexing approach to try to achieve each Fund's investment objective. The Fund is not actively managed, and BFA generally does not attempt to take defensive positions under any market conditions, including declining markets.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to discretionary liquidity fees under certain circumstances.

**Market Risk:** The iShares MSCI All Country Asia ex Japan ETF invests in A-shares (i.e., equity securities of companies based in the People's Republic of China ("China" or "PRC") that trade on the Shanghai Stock Exchange and Shenzhen Stock Exchange) primarily through the Shanghai-Hong Kong Stock Connect program or the Shenzhen-Hong Kong Stock Connect program (together, "Stock Connect"). Investing in A-shares through Stock Connect is subject to trading, clearance and settlement procedures, which could pose risks to the Fund. Trading through Stock Connect is subject to a daily quota, which limits the maximum net purchases under Stock Connect each day. The daily quota may restrict the Fund's ability to invest in A-shares on a timely basis and could affect the Fund's ability to effectively pursue its investment strategy. Additionally, the Fund may be subject to the risk of price fluctuations on days when the Chinese markets are open, but Stock Connect is not trading. The A-shares market has a higher propensity for trading suspensions than many other global equity markets.

**Valuation Risk:** The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund's NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs may significantly impact the resulting fair value and therefore each Fund's results of operations. As a result, the price received upon the sale of an investment may be less than the value ascribed by each Fund, and each Fund could realize a greater than expected loss or lesser than expected gain upon the sale of the investment. Each Fund's ability to value its investments may also be impacted by technological issues and/or errors by pricing services or other third-party service providers.

**Counterparty Credit Risk:** The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds' exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker's customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker's customers, potentially resulting in losses to the Funds.

**Geographic/Asset Class Risk:** A diversified portfolio, where this is appropriate and consistent with a fund's objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund's portfolio are disclosed in its Schedule of Investments.

Notes to Financial Statements

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*Notes to Financial Statements* (continued)

Certain Funds invest a significant portion of their assets in issuers located in a single country or a limited number of countries. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions in that country or those countries may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the Fund's portfolio. Unanticipated or sudden political or social developments may cause uncertainty in the markets and as a result adversely affect the Fund's investments. Foreign issuers may not be subject to the same uniform accounting, auditing and financial reporting standards and practices as used in the United States. Foreign securities markets may also be more volatile and less liquid than U.S. securities and may be less subject to governmental supervision not typically associated with investing in U.S. securities. Investment percentages in specific countries are presented in the Schedule of Investments.

The Funds invest a significant portion of their assets in securities of issuers located in the United States. A decrease in imports or exports, changes in trade regulations, inflation and/or an economic recession in the United States may have a material adverse effect on the U.S. economy and the securities listed on U.S. exchanges. Proposed and adopted policy and legislative changes in the United States may also have a significant effect on U.S. markets generally, as well as on the value of certain securities. Governmental agencies project that the United States will continue to maintain elevated public debt levels for the foreseeable future which may constrain future economic growth. Circumstances could arise that could prevent the timely payment of interest or principal on U.S. government debt, such as reaching the legislative "debt ceiling." Such non-payment would result in substantial negative consequences for the U.S. economy and the global financial system. If U.S. relations with certain countries deteriorate, it could adversely affect issuers that rely on the United States for trade. The United States has also experienced increased internal unrest and discord. If these trends were to continue, they may have an adverse impact on the U.S. economy and the issuers in which the the Funds invest.

Certain Funds invest a significant portion of their assets in securities of issuers located in Europe or with significant exposure to European issuers or countries. The European financial markets have recently experienced volatility and adverse trends due to concerns about economic downturns in, or rising government debt levels of, several European countries as well as acts of war in the region. These events may spread to other countries in Europe and may affect the value and liquidity of certain of the Funds' investments.

Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. The United Kingdom has withdrawn from the European Union, and one or more other countries may withdraw from the European Union and/or abandon the Euro, the common currency of the European Union. These events and actions have adversely affected, and may in the future adversely affect**,** the value and exchange rate of the Euro and may continue to significantly affect the economies of every country in Europe, including countries that do not use the Euro and non-European Union member states. The impact of these actions, especially if they occur in a disorderly fashion, is not clear but could be significant and far reaching. In addition, Russia launched a large-scale invasion of Ukraine on February 24, 2022. The extent and duration of the military action, resulting sanctions and resulting future market disruptions in the region are impossible to predict, but have been, and may continue to be, significant and have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas, as well as other sectors.

Certain Funds invest a significant portion of their assets in securities of issuers located in China or with significant exposure to Chinese issuers. Investments in Chinese securities, including certain Hong Kong-listed securities, involve risks specific to China. China may be subject to considerable degrees of economic, political and social instability and demonstrates significantly higher volatility from time to time in comparison to developed markets. Chinese markets generally continue to experience inefficiency, volatility and pricing anomalies resulting from governmental influence, a lack of publicly available information and/or political and social instability. Internal social unrest or confrontations with other neighboring countries may disrupt economic development in China and result in a greater risk of currency fluctuations, currency non-convertibility, interest rate fluctuations and higher rates of inflation. Incidents involving China's or the region's security may cause uncertainty in Chinese markets and may adversely affect the Chinese economy and a fund's investments. Reduction in spending on Chinese products and services, supply chain diversification, institution of tariffs, sanctions or other trade barriers, or a downturn in any of the economies of China's key trading partners may have an adverse impact on the Chinese economy. In addition, measures may be taken to limit the flow of capital and/or sanctions may be imposed, which could prohibit or restrict the ability to own or transfer fund assets and may also include retaliatory actions, such as seizure of fund assets.

Certain Funds invest a significant portion of their assets in securities of issuers located in Asia or with significant exposure to Asian issuers or countries. The Asian financial markets have recently experienced volatility and adverse trends due to concerns in several Asian countries regarding monetary policy, government intervention in the markets, rising government debt levels or economic downturns. These events may spread to other countries in Asia and may affect the value and liquidity of certain of the Funds' investments.

Certain Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the Fund and could affect the income from, or the value or liquidity of, the Fund's portfolio.

iShares MSCI Europe Financials ETF invest a significant portion of its assets within the financials sector. Performance of companies in the financials sector may be adversely impacted by many factors, including, among others, changes in government regulations, economic conditions, and interest rates, credit rating downgrades, adverse public perception, exposure concentration and decreased liquidity in credit markets.The impact of changes in capital requirements and recent or future regulation on any individual financial company, or on the financials sector as a whole, cannot be predicted, but may negatively impact the Fund.

**Significant Shareholder Redemption Risk:** Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund's NAV, increase the fund's brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

2024 iShares Annual Financial Statements

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*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***11. CAPITAL SHARE TRANSACTIONS***

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof ("Creation Units") at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

Transactions in capital shares were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>07/31/24 | Year Ended <br>07/31/24 | Year Ended <br>07/31/23 | Year Ended <br>07/31/23 |
| *iShares ETF* | *Shares* | *Amount* | *Shares* | *Amount* |
| MSCI ACWI |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp; $226174160 | &nbsp;&nbsp;&nbsp; 32000000 | &nbsp;&nbsp;&nbsp; $2753829363 |
| Shares redeemed | &nbsp;&nbsp; (28200000)<br>| &nbsp;&nbsp;&nbsp; (3018624701)<br>| &nbsp;&nbsp;&nbsp; (48600000)<br>| &nbsp;&nbsp;&nbsp; (4323316637)<br>|
|  | &nbsp;&nbsp; (26000000)<br>| &nbsp;&nbsp;&nbsp; $(2792450541)<br>| &nbsp;&nbsp;&nbsp; (16600000)<br>| &nbsp;&nbsp;&nbsp; $(1569487274)<br>|
| MSCI ACWI Low Carbon Target |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp; $9051108 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $24806 |
| Shares redeemed | &nbsp;&nbsp; (450000)<br>| &nbsp;&nbsp;&nbsp; (74292286)<br>| &nbsp;&nbsp;&nbsp; (650000)<br>| &nbsp;&nbsp;&nbsp; (94738252)<br>|
|  | &nbsp;&nbsp; (400000)<br>| &nbsp;&nbsp;&nbsp; $(65241178)<br>| &nbsp;&nbsp;&nbsp; (650000)<br>| &nbsp;&nbsp;&nbsp; $(94713446)<br>|
| MSCI All Country Asia ex Japan |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp; $117852331 | &nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; $289083612 |
| Shares redeemed | &nbsp;&nbsp; (10200000)<br>| &nbsp;&nbsp;&nbsp; (678284504)<br>| &nbsp;&nbsp;&nbsp; (12000000)<br>| &nbsp;&nbsp;&nbsp; (786792572)<br>|
|  | &nbsp;&nbsp; (8600000)<br>| &nbsp;&nbsp;&nbsp; $(560432173)<br>| &nbsp;&nbsp;&nbsp; (8000000)<br>| &nbsp;&nbsp;&nbsp; $(497708960)<br>|
| MSCI Europe Financials |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 29900000 | &nbsp;&nbsp;&nbsp; $678455502 | &nbsp;&nbsp;&nbsp; 32900000 | &nbsp;&nbsp;&nbsp; $554975187 |
| Shares redeemed | &nbsp;&nbsp; (21750000)<br>| &nbsp;&nbsp;&nbsp; (415606960)<br>| &nbsp;&nbsp;&nbsp; (16450000)<br>| &nbsp;&nbsp;&nbsp; (286912957)<br>|
|  | &nbsp;&nbsp; 8150000 | &nbsp;&nbsp;&nbsp; $262848542 | &nbsp;&nbsp;&nbsp; 16450000 | &nbsp;&nbsp;&nbsp; $268062230 |
| MSCI Europe Small-Cap |  |  |  |  |
| Shares sold | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; $27238196 |
| Shares redeemed | &nbsp;&nbsp; (650000)<br>| &nbsp;&nbsp;&nbsp; (36261715)<br>| &nbsp;&nbsp;&nbsp; (250000)<br>| &nbsp;&nbsp;&nbsp; (12793794)<br>|
|  | &nbsp;&nbsp; (650000)<br>| &nbsp;&nbsp;&nbsp; $(36261715)<br>| &nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; $14444402 |
| MSCI Kokusai |  |  |  |  |
| Shares sold | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; $66302649 | &nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; $21573570 |
| Shares redeemed | &nbsp;&nbsp; (350000)<br>| &nbsp;&nbsp;&nbsp; (35334731)<br>| &nbsp;&nbsp;&nbsp; (100000)<br>| &nbsp;&nbsp;&nbsp; (8690828)<br>|
|  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; $30967918 | &nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; $12882742 |

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The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Authorized Participants purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust's administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Authorized Participants transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

To the extent applicable, to facilitate the timely settlement of orders for Funds using a clearing facility outside of the continuous net settlement process, the Fund, at its sole discretion, may permit an Authorized Participant to post cash as collateral in anticipation of the delivery of all or a portion of the applicable Deposit Securities or Fund Securities, as further described in the applicable Authorized Participant Agreement. The collateral process is subject to a Control Agreement among the Authorized Participant, each Fund's custodian, and the Funds. In the event that the Authorized Participant fails to deliver all or a portion of the applicable Deposit Securities or Fund Securities, the Fund may exercise control over such collateral pursuant to the terms of the Control Agreement in order to purchase the applicable Deposit Securities or Fund Securities.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

Notes to Financial Statements

------

*Notes to Financial Statements* (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***12. FOREIGN WITHHOLDING TAX CLAIMS***

The Internal Revenue Service ("IRS") has issued guidance to address U.S. income tax liabilities attributable to fund shareholders resulting from the recovery of foreign taxes withheld in prior calendar years. These withheld foreign taxes were passed through to shareholders in the form of foreign tax credits in the year the taxes were withheld. Assuming there are sufficient foreign taxes paid which the iShares MSCI Europe Small-Cap ETF is able to pass through to shareholders as a foreign tax credit in the current year, the Fund will be able to offset the prior years' withholding taxes recovered against the foreign taxes paid in the current year. Accordingly, no federal income tax liability is recorded by the Fund.

During the year, the iShares MSCI ACWI ETF filed a closing agreement with the IRS related to the recovery of foreign taxes received in fiscal years 2020 and 2022, and the related tax compliance fee, including interest, was paid to the IRS.

***13. SUBSEQUENT EVENTS***

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

2024 iShares Annual Financial Statements

------

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of

iShares Trust and Shareholders of each of the six funds listed in the table below

***Opinions on the Financial Statements*** 

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (six of the funds constituting iShares Trust, hereafter collectively referred to as the "Funds") as of July 31, 2024, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of July 31, 2024, the results of each of their operations, the changes in each of their net assets, and each of the financial highlights for each of the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

---

| |
|:---|
| iShares MSCI ACWI ETF<sup>(1)</sup> <br>|
| iShares MSCI ACWI Low Carbon Target ETF<sup>(1)</sup> <br>|
| iShares MSCI All Country Asia ex Japan ETF<sup>(2)</sup> <br>|
| iShares MSCI Europe Financials ETF<sup>(1)</sup> <br>|
| iShares MSCI Europe Small-Cap ETF<sup>(1)</sup> <br>|
| iShares MSCI Kokusai ETF<sup>(1)</sup> <br>|

---

<sup>(1)</sup> Statement of operations for the year ended July 31, 2024 statement of changes in net assets for each of the two years in the period ended July 31, 2024 and the financial highlights for each of the five years in the period ended July 31, 2024

<sup>(2)</sup> Statement of operations for the year ended July 31, 2024 statement of changes in net assets for each of the two years in the period ended July 31, 2024 the financial highlights for each of the 2 years in the period ended July 31, 2024 and the consolidated financial highlights for each of the 3 years in the period ended July 31, 2022

***Basis for Opinions*** 

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of July 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

September 23, 2024

We have served as the auditor of one or more BlackRock investment companies since 2000.

Report of Independent Registered Public Accounting Firm

------

Important Tax Information (unaudited)

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Dividend* <br>*Income*<br>|
| MSCI ACWI | &nbsp;&nbsp; $339055607 |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; 16130907 |
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; 29845683 |
| MSCI Europe Financials | &nbsp;&nbsp; 75925391 |
| MSCI Europe Small-Cap | &nbsp;&nbsp; 3285949 |
| MSCI Kokusai | &nbsp;&nbsp; 3698228 |

---

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified business income for individuals for the fiscal year ended July 31, 2024:

---

| | |
|:---|:---|
| *iShares ETF* | *Qualified Business* <br>*Income*<br>|
| MSCI ACWI | &nbsp;&nbsp; $7048751 |
| MSCI ACWI Low Carbon Target | &nbsp;&nbsp; 367262 |
| MSCI Kokusai | &nbsp;&nbsp; 93434 |

---

The Funds intend to pass through to their shareholders the following amounts, or maximum amounts allowable by law, of foreign source income earned and foreign taxes paid for the fiscal year ended July 31, 2024:

---

| | | |
|:---|:---|:---|
| *iShares ETF* | *Foreign Source* <br>*Income Earned*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Foreign* <br>*Taxes Paid*<br>|
| MSCI All Country Asia ex Japan | &nbsp;&nbsp; $64323325 | &nbsp;&nbsp;&nbsp;&nbsp; $11166856 |
| MSCI Europe Financials | &nbsp;&nbsp; 77030757 | &nbsp;&nbsp;&nbsp;&nbsp; 6252702 |
| MSCI Europe Small-Cap | &nbsp;&nbsp; 3722152 | &nbsp;&nbsp;&nbsp;&nbsp; 224322 |

---

The following percentage, or maximum percentage allowable by law, of ordinary income distributions paid during the fiscal year ended July 31, 2024 qualified for the dividends-received deduction for corporate shareholders:

---

| | |
|:---|:---|
| *iShares ETF* | *Dividends-Received* <br>*Deduction*<br>|
| MSCI ACWI | 47.20<br> %<br>|
| MSCI ACWI Low Carbon Target | 39.76<br> %<br>|
| MSCI All Country Asia ex Japan | 0.17<br> %<br>|
| MSCI Europe Small-Cap | 0.23<br> %<br>|
| MSCI Kokusai | 50.20<br> %<br>|

---

2024 iShares Annual Financial Statements

------

Additional Information

**Premium/Discount Information**

Information on the Fund's net asset value, market price, premiums and discounts, and bid-ask spreads can be found at **iShares.com**.

**Regulation under the Alternative Investment Fund Managers Directive**

The Alternative Investment Fund Managers Directive, and its United Kingdom ("UK") equivalent, (the "AIFMD") impose detailed and prescriptive obligations on fund managers established in the European Union (the "EU") and the UK. These do not currently apply to managers established outside of the EU or UK, such as BFA (the "Company"). However, the Company is required to comply with certain disclosure, reporting and transparency obligations of the AIFMD because it has registered the iShares MSCI ACWI ETF, iShares MSCI All Country Asia ex Japan ETF and iShares MSCI Kokusai ETF (the "Funds") to be marketed to investors in the EU and/or UK. As of September 26, 2023 iShares MSCI Kokusai ETF was no longer registered under AIFMD.

**Report on Remuneration**

BlackRock has a clear and well-defined pay-for-performance philosophy, and compensation programs which support that philosophy.

BlackRock operates a total compensation model for remuneration which includes a base salary, which is contractual, and a discretionary bonus scheme. Although all employees are eligible to receive a discretionary bonus, there is no contractual obligation to make a discretionary bonus award to any employees. For senior management and staff who have the ability to materially affect the risk profile of the Funds, a significant percentage of variable remuneration is deferred over time. All employees are subject to a clawback policy.

Remuneration decisions for employees are made once annually in January following the end of the performance year, based on BlackRock's full-year financial results and other non-financial goals and objectives. Alongside financial performance, individual total compensation is also based on strategic and operating results and other considerations such as management and leadership capabilities. No set formulas are established and no fixed benchmarks are used in determining annual incentive awards.

Annual incentive awards are paid from a bonus pool which is reviewed throughout the year by BlackRock's independent compensation committee, taking into account both actual and projected financial information together with information provided by the Enterprise Risk and Regulatory Compliance departments in relation to any activities, incidents or events that warrant consideration in making compensation decisions. Individuals are not involved in setting their own remuneration.

Each of the control functions (Enterprise Risk, Legal & Compliance, Finance, Human Resources and Internal Audit) each have their own organizational structures which are independent of the business units and therefore staff members in control functions are remunerated independently of the businesses they oversee. Functional bonus pools for those control functions are determined with reference to the performance of each individual function and the remuneration of the senior members of control functions is directly overseen by BlackRock's independent remuneration committee.

The Company is required under the AIFMD to make quantitative disclosures of remuneration. These disclosures are made in line with BlackRock's interpretation of currently available regulatory guidance on quantitative remuneration disclosures. As market or regulatory practice develops BlackRock may consider it appropriate to make changes to the way in which quantitative remuneration disclosures are calculated. Where such changes are made, this may result in disclosures in relation to a fund not being comparable to the disclosures made in the prior year, or in relation to other BlackRock fund disclosures in that same year. BlackRock bases its proportionality approach on a combination of factors that it is entitled to take into account based on relevant guidelines.

Remuneration information at an individual AIF level is not readily available. Disclosures are provided in relation to (a) the staff of the Company; (b) staff who are senior management; (c) staff who have the ability to materially affect the risk profile of the Funds; and (d) staff of companies to which portfolio management and risk management has been formally delegated.

All individuals included in the aggregated figures disclosed are rewarded in line with BlackRock's remuneration policy for their responsibilities across the relevant BlackRock business area. As all individuals have a number of areas of responsibilities, only the portion of remuneration for those individuals' services attributable to the Funds is included in the aggregate figures disclosed.

Members of staff and senior management of the Company typically provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the Company and across the broader BlackRock group. Conversely, members of staff and senior management of the broader BlackRock group may provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the broader BlackRock group and of the Company. Therefore, the figures disclosed are a sum of individuals' portion of remuneration attributable to the Company according to an objective apportionment methodology which acknowledges the multiple-service nature of the Company and the broader BlackRock group. Accordingly, the figures are not representative of any individual's actual remuneration or their remuneration structure.

The amount of the total remuneration awarded to the Company's staff in respect of the Company's financial year ending December 31, 2023 was USD 5.43m. This figure is comprised of fixed remuneration of USD 0.74m and variable remuneration of USD 4.68m. There was a total of 8 beneficiaries of the remuneration described above.

The amount of the aggregate remuneration awarded by the Company in respect of the Company's financial year ending December 31, 2023, to its senior management was USD 3.66m, and to other members of its staff whose actions potentially have a material impact on the risk profile of the Company or its funds was USD 1.77m.

Additional Information

------

Additional Information (continued)

**Disclosures Under the EU Sustainable Finance Disclosure Regulation** 

The iShares MSCI ACWI ETF, iShares MSCI All Country Asia ex Japan ETF and iShares MSCI Kokusai ETF (the "Funds") are registered under the Alternative Investment Fund Managers Directive to be marketed to European Union ("EU") investors, as noted above. As a result, certain disclosures are required under the EU Sustainable Finance Disclosure Regulation ("SFDR"). As of September 26, 2023 iShares MSCI Kokusai ETF was no longer registered under AIFMD.

Each Fund has not been categorized under the SFDR as an "Article 8" or "Article 9" product. In addition, each Fund's investment strategy does not take into account the criteria for environmentally sustainable economic activities under the EU sustainable investment taxonomy regulation or principal adverse impacts ("PAIs") on sustainability factors under the SFDR. PAIs are identified under the SFDR as the material impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, and anti-corruption and anti-bribery matters.

**Electronic Delivery**

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at **iShares.com**. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

To enroll in electronic delivery:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Go to **icsdelivery.com**.

• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.

**Changes in and Disagreements with Accountants** 

Not applicable.

**Proxy Results**

Not applicable.

**Remuneration Paid to Trustees, Officers, and Others** 

Because BFA has agreed in the Investment Advisory Agreements to cover all operating expenses of the Funds, subject to certain exclusions as provided for therein, BFA pays the compensation to each Independent Trustee for services to the Funds from BFA's investment advisory fees.

**Availability of Portfolio Holdings Information**

A description of the Trust's policies and procedures with respect to the disclosure of each Fund's portfolio securities is available in each Fund Prospectus. Each Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at **iShares.com**.

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract

**iShares MSCI ACWI ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024

Board Review and Approval of Investment Advisory Contract

------

Board Review and Approval of Investment Advisory Contract (continued)

meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares MSCI ACWI Low Carbon Target ETF, iShares MSCI Europe Financials ETF, iShares MSCI Kokusai ETF (each the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing

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Board Review and Approval of Investment Advisory Contract (continued)

the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

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Board Review and Approval of Investment Advisory Contract (continued)

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares MSCI All Country Asia ex Japan ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were higher than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Board Review and Approval of Investment Advisory Contract

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Board Review and Approval of Investment Advisory Contract (continued)

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that

2024 iShares Annual Financial Statements

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Board Review and Approval of Investment Advisory Contract (continued)

BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

**iShares MSCI Europe Small-Cap ETF (the "Fund")**

Under Section 15(c) of the Investment Company Act of 1940 (the "1940 Act"), the Trust's Board of Trustees (the "Board"), including a majority of Board Members who are not "interested persons" of the Trust (as that term is defined in the 1940 Act) (the "Independent Board Members"), is required annually to consider the approval of the Investment Advisory Agreement between the Trust and BFA (the "Advisory Agreement") on behalf of the Fund. The Board's consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock's services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund's service providers; risk management and oversight; and legal and compliance services; including the ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings held on May 6, 2024 and May 17, 2024, a committee composed of all of the Independent Board Members (the "15(c) Committee"), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel. Prior to and in preparation for the meeting, the Board received and reviewed materials specifically relating to matters relevant to the renewal of the Advisory Agreement. Following discussion, the 15(c) Committee subsequently requested certain additional information, which management agreed to provide. At a meeting held on June 4-5, 2024, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The Board Members did not identify any particular information or any single factor as determinative, and each Board Member may have attributed different weights to the various matters and factors considered. The material factors, considerations and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

**Expenses and Performance of the Fund:** The Board reviewed statistical information prepared by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of other fund(s) in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund's applicable expense peer group pursuant to Broadridge's proprietary ETF methodology (the "Peer Group"). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund's Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge's report may or may not provide meaningful direct comparisons to the Fund

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Board Review and Approval of Investment Advisory Contract (continued)

in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of any waivers and reimbursements) for the Fund were within range of the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund's performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2023, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund's short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other relevant factors and information considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Nature, Extent and Quality of Services Provided:** Based on management's representations, including information about ongoing enhancements and initiatives with respect to the iShares product line and BFA's business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA's investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA's compliance program and its compliance record with respect to the Fund, including related programs implemented pursuant to regulatory requirements. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA's investment performance, investment and risk management processes and strategies provided at the May 6, 2024 meeting and throughout the year, and matters related to BFA's portfolio compliance program and other compliance programs and services, as well as BlackRock's continued investments in its ETF business.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates:** The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund's operations for the last calendar year. The Board reviewed BlackRock's methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA's estimated profit margin as reflected in the Fund's profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, and related costs of the services provided as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

**Economies of Scale:** The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock's historical estimated profitability (as discussed above), including BFA's and its affiliates' estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business, including enhancements to or the provision of additional infrastructure and services to the iShares funds and their shareholders and, with respect to New Funds, set management fees at levels that anticipate scale over time. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund's investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board's approval of the continuance of the Advisory Agreement for the coming year.

2024 iShares Annual Financial Statements

------

Board Review and Approval of Investment Advisory Contract (continued)

**Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates:** The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds and institutional separate accounts (collectively, the "Other Accounts").

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive character and scope of services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board acknowledged BFA's representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts in its consideration of relevant qualitative and quantitative comparative information provided. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management's assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the "all-inclusive" nature of the Fund's advisory fee structure, and the Fund's expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

**Other Benefits to BFA and/or its Affiliates:** The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund's securities lending agent, for loaning portfolio securities, as applicable (which was included in the profit margins reviewed by the Board pursuant to BFA's estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds (including cash sweep vehicles) for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock's profile in the investment community. The Board further considered other direct benefits that might accrue to BFA, including actual and potential reductions in the Fund's expenses that are borne by BFA under the "all-inclusive" management fee arrangement, due in part to the size and scope of BFA's investment operations servicing the Fund (and other funds in the iShares complex) as well as in response to a changing market environment. The Board also reviewed and considered information provided by BFA concerning authorized participant primary market order processing services that are provided by BlackRock Investments, LLC ("BRIL"), an affiliate of BFA, and paid for by authorized participants under the ETF Servicing Platform. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock's technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board's conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

**Conclusion:** Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund's investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm's-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

Board Review and Approval of Investment Advisory Contract

------

Glossary of Terms Used in this Report

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| JSC | Joint Stock Company |
| NVDR | Non-Voting Depositary Receipt |
| NVS | Non-Voting Shares |
| PJSC | Public Joint Stock Company |
| REIT | Real Estate Investment Trust |
| SDR | Swedish Depositary Receipt |

---

2024 iShares Annual Financial Statements

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Want to know more?

**iShares.com** \| 1-800-474-2737

**This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.**

**Investing involves risk, including possible loss of principal.**

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, "BlackRock").

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc., nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.©2024 BlackRock, Inc. All rights reserved. **iSHARES** and **BLACKROCK** are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.

![](g40991img6b7b58bc2.gif)

![](g40991imgd548b5053.gif)

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Item 8 – Changes in and Disagreements with Accountants for Open-End Management Investment Companies – See Item 7

Item 9 – Proxy Disclosures for Open-End Management Investment Companies – See Item 7

Item 10 – Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies – See Item 7

Item 11 – Statement Regarding Basis for Approval of Investment Advisory Contract – See Item 7

Item 12 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not Applicable

Item 13 – Portfolio Managers of Closed-End Management Investment Companies – Not Applicable

Item 14 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not Applicable

Item 15 – Submission of Matters to a Vote of Security Holders – There have been no material changes to these procedures.

Item 16 – Controls and Procedures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act")) are effective as of a date within 90 days of the filing date of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

------

Item 17 – Disclosure of Securities Lending Activities for Closed-End Management Investment Companies – Not Applicable

Item 18 – Recovery of Erroneously Awarded Compensation – Not Applicable

Item 19 – Exhibits attached hereto

[(a)(1) Code of Ethics – See Item 2](#item2)

(a)(2) Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed – Not Applicable

[(a)(3) Section 302 Certifications are attached](d40991dex99cert.htm)

(a)(4) Any written solicitation to purchase securities under Rule 23c-1 – Not Applicable

(a)(5) Change in registrant's independent public accountant – Not Applicable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(b) Section 906 Certifications are attached](d40991dex99906cert.htm)

------

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

iShares Trust

---

| | |
|:---|:---|
| By: | <u>/s/ Jessica Tan</u> |
|  | Jessica Tan |
|  | President (principal executive officer) of |
|  | iShares Trust |

---

Date: June 27, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | <u>/s/ Jessica Tan</u> |
|  | Jessica Tan |
|  | President (principal executive officer) of |
|  | iShares Trust |

---

Date: June 27, 2025

---

| | |
|:---|:---|
| By: | <u>/s/ Trent Walker</u> |
|  | Trent Walker |
|  | Treasurer and Chief Financial Officer (principal financial officer) of |
|  | iShares Trust |

---

Date: June 27, 2025

## Ex-99.Cert

**EX-99. CERT** 

**CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002** 

I, Jessica Tan, President (principal executive officer) of iShares Trust, certify that:

1. I have reviewed this report on Form N-CSR of iShares Trust for the following thirty-nine series: iShares Breakthrough Environmental Solutions ETF, iShares China Large-Cap ETF, iShares Core MSCI EAFE ETF, iShares Core MSCI Europe ETF, iShares Core MSCI International Developed Markets ETF, iShares Core MSCI Pacific ETF, iShares Core MSCI Total International Stock ETF, iShares Currency Hedged MSCI ACWI ex U.S. ETF, iShares Currency Hedged MSCI EAFE ETF, iShares Currency Hedged MSCI EAFE Small-Cap ETF, iShares Cybersecurity and Tech ETF, iShares Energy Storage & Materials ETF, iShares Exponential Technologies ETF, iShares Future Cloud 5G and Tech ETF, iShares Genomics Immunology and Healthcare ETF, iShares Global Equity Factor ETF, iShares International Equity Factor ETF, iShares International Small-Cap Equity Factor ETF, iShares MSCI ACWI ETF, iShares MSCI ACWI ex U.S. ETF, iShares MSCI ACWI Low Carbon Target ETF, iShares MSCI All Country Asia ex Japan ETF, iShares MSCI China A ETF, iShares MSCI EAFE ETF, iShares MSCI EAFE Growth ETF, iShares MSCI EAFE Min Vol Factor ETF, iShares MSCI EAFE Small-Cap ETF, iShares MSCI EAFE Value ETF, iShares MSCI Europe Financials ETF, iShares MSCI Europe Small-Cap ETF, iShares MSCI Intl Momentum Factor ETF, iShares MSCI Intl Quality Factor ETF, iShares MSCI Intl Size Factor ETF, iShares MSCI Intl Value Factor ETF, iShares MSCI Kokusai ETF, iShares Neuroscience and Healthcare ETF, iShares Robotics and Artificial Intelligence Multisector ETF, iShares Self-Driving EV and Tech ETF and iShares Virtual Work and Life Multisector ETF;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: June 27, 2025

<u>/s/ Jessica Tan</u> 

Jessica Tan

President (principal executive officer) of

iShares Trust

------

**EX-99. CERT** 

**CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002** 

I, Trent Walker, Treasurer and Chief Financial Officer (principal financial officer) of iShares Trust, certify that:

1. I have reviewed this report on Form N-CSR of iShares Trust for the following thirty-nine series: iShares Breakthrough Environmental Solutions ETF, iShares China Large-Cap ETF, iShares Core MSCI EAFE ETF, iShares Core MSCI Europe ETF, iShares Core MSCI International Developed Markets ETF, iShares Core MSCI Pacific ETF, iShares Core MSCI Total International Stock ETF, iShares Currency Hedged MSCI ACWI ex U.S. ETF, iShares Currency Hedged MSCI EAFE ETF, iShares Currency Hedged MSCI EAFE Small-Cap ETF, iShares Cybersecurity and Tech ETF, iShares Energy Storage & Materials ETF, iShares Exponential Technologies ETF, iShares Future Cloud 5G and Tech ETF, iShares Genomics Immunology and Healthcare ETF, iShares Global Equity Factor ETF, iShares International Equity Factor ETF, iShares International Small-Cap Equity Factor ETF, iShares MSCI ACWI ETF, iShares MSCI ACWI ex U.S. ETF, iShares MSCI ACWI Low Carbon Target ETF, iShares MSCI All Country Asia ex Japan ETF, iShares MSCI China A ETF, iShares MSCI EAFE ETF, iShares MSCI EAFE Growth ETF, iShares MSCI EAFE Min Vol Factor ETF, iShares MSCI EAFE Small-Cap ETF, iShares MSCI EAFE Value ETF, iShares MSCI Europe Financials ETF, iShares MSCI Europe Small-Cap ETF, iShares MSCI Intl Momentum Factor ETF, iShares MSCI Intl Quality Factor ETF, iShares MSCI Intl Size Factor ETF, iShares MSCI Intl Value Factor ETF, iShares MSCI Kokusai ETF, iShares Neuroscience and Healthcare ETF, iShares Robotics and Artificial Intelligence Multisector ETF, iShares Self-Driving EV and Tech ETF and iShares Virtual Work and Life Multisector ETF;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: June 27, 2025

<u>/s/ Trent Walker</u> 

Trent Walker

Treasurer and Chief Financial Officer (principal financial officer) of

iShares Trust

## Exhibit 99.906

**Exhibit 99.906CERT** 

**Certification Pursuant to Rule 30a-2(b) under the 1940 Act and** 

**Section 906 of the Sarbanes-Oxley Act of 2002** 

Pursuant to 18 U.S.C. § 1350, the undersigned officer of iShares Trust, (the "Registrant"), hereby certifies, to the best of his knowledge, that the Registrant's Report on Form N-CSR for the period ended July 31, 2024 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: June 27, 2025

<u>/s/ Jessica Tan</u>

Jessica Tan

President (principal executive officer) of

iShares Trust

Pursuant to 18 U.S.C. § 1350, the undersigned officer of iShares Trust, (the "Registrant"), hereby certifies, to the best of his knowledge, that the Registrant's Report on Form N-CSR for the period ended July 31, 2024 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: June 27, 2025

<u>/s/ Trent Walker</u>

Trent Walker

Treasurer and Chief Financial Officer (principal financial officer) of

iShares Trust

This certification is being furnished pursuant to Rule 30a-2(b) under the Investment Company Act of 1940, as amended, and 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR with the Securities and Exchange Commission**.**