| Schedule of Investments (unaudited) | iShares® Global Industrials ETF |
| June 30, 2022 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks | ||||||||
| Australia — 1.0% | ||||||||
| Brambles Ltd. | 93,481 | $ | 691,226 | |||||
| Qantas Airways Ltd.(a) | 121,023 | 374,546 | ||||||
| Transurban Group | 199,549 | 1,985,373 | ||||||
| 3,051,145 | ||||||||
| Brazil — 0.3% | ||||||||
| CCR SA | 71,375 | 170,887 | ||||||
| Localiza Rent a Car SA | 37,552 | 376,062 | ||||||
| WEG SA | 94,494 | 477,575 | ||||||
| 1,024,524 | ||||||||
| Canada — 4.1% | ||||||||
| CAE Inc.(a) | 20,361 | 501,749 | ||||||
| Canadian National Railway Co. | 38,559 | 4,337,288 | ||||||
| Canadian Pacific Railway Ltd. | 60,189 | 4,204,159 | ||||||
| SNC-Lavalin Group Inc. | 11,520 | 198,145 | ||||||
| Thomson Reuters Corp. | 10,761 | 1,121,829 | ||||||
| Waste Connections Inc.(b) | 16,622 | 2,060,963 | ||||||
| 12,424,133 | ||||||||
| Denmark — 1.5% | ||||||||
| AP Moller - Maersk A/S, Class A | 194 | 450,265 | ||||||
| AP Moller - Maersk A/S, Class B, NVS | 379 | 889,740 | ||||||
| DSV A/S | 13,461 | 1,892,849 | ||||||
| Vestas Wind Systems A/S | 65,774 | 1,398,487 | ||||||
| 4,631,341 | ||||||||
| Finland — 0.6% | ||||||||
| Kone OYJ, Class B | 25,948 | 1,240,189 | ||||||
| Metso Outotec OYJ | 46,378 | 350,056 | ||||||
| Wartsila OYJ Abp | 32,477 | 254,579 | ||||||
| 1,844,824 | ||||||||
| France — 6.6% | ||||||||
| Airbus SE | 39,885 | 3,901,146 | ||||||
| Alstom SA | 18,902 | 431,618 | ||||||
| Bouygues SA | 14,238 | 439,434 | ||||||
| Bureau Veritas SA | 18,648 | 479,777 | ||||||
| Cie. de Saint-Gobain | 33,797 | 1,460,342 | ||||||
| Eiffage SA | 5,096 | 460,984 | ||||||
| Legrand SA | 17,248 | 1,280,638 | ||||||
| Safran SA | 22,760 | 2,266,110 | ||||||
| Schneider Electric SE | 36,823 | 4,387,662 | ||||||
| Teleperformance. | 3,836 | 1,184,496 | ||||||
| Thales SA | 6,912 | 848,635 | ||||||
| Vinci SA | 33,435 | 3,001,173 | ||||||
| 20,142,015 | ||||||||
| Germany — 3.4% | ||||||||
| Brenntag SE. | 10,017 | 655,895 | ||||||
| Daimler Truck Holding AG(a) | 31,846 | 838,692 | ||||||
| Deutsche Post AG, Registered | 64,336 | 2,429,079 | ||||||
| GEA Group AG | 10,674 | 370,046 | ||||||
| MTU Aero Engines AG | 3,421 | 626,698 | ||||||
| Siemens AG, Registered | 51,808 | 5,325,681 | ||||||
| 10,246,091 | ||||||||
| Hong Kong — 0.8% | ||||||||
| CK Hutchison Holdings Ltd. | 172,520 | 1,170,375 | ||||||
| Techtronic Industries Co. Ltd. | 112,000 | 1,169,520 | ||||||
| 2,339,895 | ||||||||
| Ireland — 1.0% | ||||||||
| Kingspan Group PLC | 10,106 | 607,685 | ||||||
| Security | Shares | Value | ||||||
| Ireland (continued) | ||||||||
| Ryanair Holdings PLC, ADR(a)(b) | 6,321 | $ | 425,087 | |||||
| Trane Technologies PLC | 15,180 | 1,971,427 | ||||||
| 3,004,199 | ||||||||
| Italy — 0.4% | ||||||||
| Atlantia SpA | 32,481 | 762,474 | ||||||
| Prysmian SpA | 17,350 | 476,655 | ||||||
| 1,239,129 | ||||||||
| Japan — 14.9% | ||||||||
| AGC Inc. | 14,600 | 513,010 | ||||||
| ANA Holdings Inc.(a) | 31,500 | 581,858 | ||||||
| Central Japan Railway Co. | 13,400 | 1,540,100 | ||||||
| Dai Nippon Printing Co. Ltd. | 17,900 | 385,038 | ||||||
| Daifuku Co. Ltd. | 8,300 | 475,011 | ||||||
| Daikin Industries Ltd. | 19,000 | 3,050,621 | ||||||
| East Japan Railway Co. | 24,500 | 1,253,154 | ||||||
| FANUC Corp. | 12,400 | 1,943,567 | ||||||
| Hankyu Hanshin Holdings Inc. | 15,300 | 417,893 | ||||||
| Hitachi Ltd. | 62,700 | 2,982,641 | ||||||
| ITOCHU Corp. | 96,600 | 2,606,071 | ||||||
| Japan Airlines Co. Ltd.(a) | 27,900 | 479,366 | ||||||
| Kajima Corp. | 32,300 | 370,371 | ||||||
| Kintetsu Group Holdings Co. Ltd. | 12,500 | 388,896 | ||||||
| Komatsu Ltd. | 63,300 | 1,409,511 | ||||||
| Kubota Corp. | 73,300 | 1,098,481 | ||||||
| Makita Corp. | 18,200 | 451,115 | ||||||
| Marubeni Corp. | 111,700 | 1,002,126 | ||||||
| Mitsubishi Corp. | 95,800 | 2,853,037 | ||||||
| Mitsubishi Electric Corp. | 139,700 | 1,501,657 | ||||||
| Mitsubishi Heavy Industries Ltd. | 22,100 | 772,433 | ||||||
| Mitsui & Co. Ltd. | 106,400 | 2,338,090 | ||||||
| Nidec Corp. | 35,500 | 2,199,823 | ||||||
| Nippon Yusen KK | 11,100 | 761,071 | ||||||
| Obayashi Corp. | 46,700 | 339,661 | ||||||
| Odakyu Electric Railway Co. Ltd. | 22,200 | 299,517 | ||||||
| Recruit Holdings Co. Ltd. | 109,800 | 3,233,658 | ||||||
| Secom Co. Ltd. | 13,800 | 852,076 | ||||||
| SG Holdings Co. Ltd. | 33,100 | 559,718 | ||||||
| SMC Corp. | 4,000 | 1,780,558 | ||||||
| Sumitomo Corp. | 80,500 | 1,094,272 | ||||||
| Taisei Corp. | 12,900 | 402,221 | ||||||
| Tokyu Corp. | 36,000 | 424,925 | ||||||
| Toppan Inc. | 22,900 | 382,062 | ||||||
| Toshiba Corp. | 28,200 | 1,145,774 | ||||||
| TOTO Ltd. | 10,500 | 347,669 | ||||||
| Toyota Industries Corp. | 13,400 | 830,897 | ||||||
| Toyota Tsusho Corp. | 15,500 | 505,344 | ||||||
| West Japan Railway Co. | 15,600 | 573,899 | ||||||
| Yamato Holdings Co. Ltd. | 22,400 | 358,471 | ||||||
| Yaskawa Electric Corp. | 17,300 | 558,758 | ||||||
| 45,064,421 | ||||||||
| Netherlands — 1.1% | ||||||||
| CNH Industrial NV | 63,700 | 736,713 | ||||||
| IMCD NV | 3,717 | 508,242 | ||||||
| Randstad NV | 7,908 | 382,197 | ||||||
| Wolters Kluwer NV | 16,920 | 1,639,851 | ||||||
| 3,267,003 | ||||||||
| Spain — 0.6% | ||||||||
| ACS Actividades de Construccion y Servicios SA | 16,497 | 402,059 | ||||||
| Aena SME SA(a)(c) | 4,749 | 605,977 | ||||||
1
| Schedule of Investments (unaudited) (continued) | iShares® Global Industrials ETF |
| June 30, 2022 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Spain (continued) | ||||||||
| Ferrovial SA | 32,490 | $ | 826,667 | |||||
| 1,834,703 | ||||||||
| Sweden — 3.1% | ||||||||
| Alfa Laval AB | 19,051 | 461,836 | ||||||
| Assa Abloy AB, Class B | 63,913 | 1,363,906 | ||||||
| Atlas Copco AB | 168,252 | 1,574,846 | ||||||
| Atlas Copco AB | 101,927 | 854,038 | ||||||
| Epiroc AB, Class A | 40,564 | 628,947 | ||||||
| Epiroc AB, Class B | 25,424 | 344,531 | ||||||
| Nibe Industrier AB, Class B | 91,721 | 691,415 | ||||||
| Sandvik AB | 70,834 | 1,154,389 | ||||||
| Skanska AB, Class B | 25,918 | 398,762 | ||||||
| SKF AB, Class B | 24,188 | 358,860 | ||||||
| Volvo AB, Class B | 102,454 | 1,594,121 | ||||||
| 9,425,651 | ||||||||
| Switzerland — 2.6% | ||||||||
| ABB Ltd., Registered | 115,754 | 3,104,310 | ||||||
| Adecco Group AG, Registered | 11,237 | 383,011 | ||||||
| Geberit AG, Registered | 2,337 | 1,124,339 | ||||||
| Kuehne + Nagel International AG, Registered | 3,294 | 782,663 | ||||||
| Schindler Holding AG, Participation Certificates, NVS | 2,623 | 479,639 | ||||||
| Schindler Holding AG, Registered | 1,324 | 238,451 | ||||||
| SGS SA, Registered | 389 | 892,241 | ||||||
| Siemens Energy AG(a) | 25,717 | 379,026 | ||||||
| VAT Group AG(c) | 1,704 | 407,522 | ||||||
| 7,791,202 | ||||||||
| United Kingdom — 5.0% | ||||||||
| Ashtead Group PLC | 29,255 | 1,230,715 | ||||||
| BAE Systems PLC | 207,991 | 2,105,700 | ||||||
| Bunzl PLC | 22,129 | 734,920 | ||||||
| DCC PLC | 6,629 | 412,433 | ||||||
| Experian PLC | 63,064 | 1,851,609 | ||||||
| Ferguson PLC | 14,973 | 1,677,313 | ||||||
| IMI PLC | 18,336 | 262,987 | ||||||
| Intertek Group PLC | 10,234 | 526,025 | ||||||
| Melrose Industries PLC | 289,330 | 530,704 | ||||||
| RELX PLC | 128,427 | 3,486,967 | ||||||
| Rentokil Initial PLC | 118,544 | 687,195 | ||||||
| Rolls-Royce Holdings PLC(a) | 549,141 | 558,839 | ||||||
| Smiths Group PLC | 24,313 | 415,773 | ||||||
| Spirax-Sarco Engineering PLC | 4,662 | 562,278 | ||||||
| Weir Group PLC (The) | 17,186 | 286,436 | ||||||
| 15,329,894 | ||||||||
| United States — 52.5% | ||||||||
| 3M Co. | 36,833 | 4,766,559 | ||||||
| A O Smith Corp. | 8,504 | 464,999 | ||||||
| Alaska Air Group Inc.(a) | 8,234 | 329,772 | ||||||
| Allegion PLC | 5,676 | 555,680 | ||||||
| American Airlines Group Inc.(a)(b) | 42,179 | 534,830 | ||||||
| AMETEK Inc. | 14,918 | 1,639,339 | ||||||
| Boeing Co. (The)(a) | 35,949 | 4,914,947 | ||||||
| Carrier Global Corp. | 54,755 | 1,952,563 | ||||||
| Caterpillar Inc. | 34,562 | 6,178,303 | ||||||
| CH Robinson Worldwide Inc. | 8,178 | 829,004 | ||||||
| Cintas Corp. | 5,622 | 2,099,986 | ||||||
| Copart Inc.(a) | 13,913 | 1,511,787 | ||||||
| CSX Corp. | 141,070 | 4,099,494 | ||||||
| Cummins Inc. | 9,107 | 1,762,478 | ||||||
| Deere & Co. | 18,091 | 5,417,712 | ||||||
| Security | Shares | Value | ||||||
| United States (continued) | ||||||||
| Delta Air Lines Inc.(a) | 41,696 | $ | 1,207,933 | |||||
| Dover Corp. | 9,376 | 1,137,496 | ||||||
| Eaton Corp. PLC | 25,839 | 3,255,456 | ||||||
| Emerson Electric Co. | 38,495 | 3,061,892 | ||||||
| Equifax Inc. | 7,949 | 1,452,918 | ||||||
| Expeditors International of Washington Inc. | 10,925 | 1,064,750 | ||||||
| Fastenal Co. | 37,428 | 1,868,406 | ||||||
| FedEx Corp. | 15,412 | 3,494,055 | ||||||
| Fortive Corp. | 23,395 | 1,272,220 | ||||||
| Fortune Brands Home & Security Inc. | 8,454 | 506,226 | ||||||
| Generac Holdings Inc.(a) | 4,125 | 868,643 | ||||||
| General Dynamics Corp. | 14,937 | 3,304,811 | ||||||
| General Electric Co. | 71,150 | 4,530,120 | ||||||
| Honeywell International Inc. | 44,089 | 7,663,109 | ||||||
| Howmet Aerospace Inc. | 24,477 | 769,802 | ||||||
| Huntington Ingalls Industries Inc. | 2,591 | 564,372 | ||||||
| IDEX Corp. | 4,919 | 893,438 | ||||||
| Illinois Tool Works Inc. | 18,319 | 3,338,638 | ||||||
| Ingersoll Rand Inc. | 26,287 | 1,106,157 | ||||||
| Jacobs Engineering Group Inc. | 8,278 | 1,052,382 | ||||||
| JB Hunt Transport Services Inc. | 5,484 | 863,565 | ||||||
| Johnson Controls International PLC | 44,968 | 2,153,068 | ||||||
| L3Harris Technologies Inc. | 12,465 | 3,012,790 | ||||||
| Leidos Holdings Inc. | 8,834 | 889,672 | ||||||
| Lockheed Martin Corp. | 15,347 | 6,598,596 | ||||||
| Masco Corp. | 15,153 | 766,742 | ||||||
| Nielsen Holdings PLC. | 23,461 | 544,764 | ||||||
| Nordson Corp. | 3,506 | 709,755 | ||||||
| Norfolk Southern Corp. | 15,462 | 3,514,358 | ||||||
| Northrop Grumman Corp. | 9,462 | 4,528,229 | ||||||
| Old Dominion Freight Line Inc. | 5,935 | 1,521,022 | ||||||
| Otis Worldwide Corp. | 27,408 | 1,936,923 | ||||||
| PACCAR Inc. | 22,586 | 1,859,731 | ||||||
| Parker-Hannifin Corp. | 8,285 | 2,038,524 | ||||||
| Pentair PLC | 10,819 | 495,186 | ||||||
| Quanta Services Inc. | 9,314 | 1,167,417 | ||||||
| Raytheon Technologies Corp. | 96,310 | 9,256,354 | ||||||
| Republic Services Inc. | 13,468 | 1,762,557 | ||||||
| Robert Half International Inc. | 7,304 | 546,997 | ||||||
| Rockwell Automation Inc. | 7,490 | 1,492,832 | ||||||
| Rollins Inc. | 14,773 | 515,873 | ||||||
| Snap-on Inc. | 3,456 | 680,936 | ||||||
| Southwest Airlines Co.(a) | 38,204 | 1,379,928 | ||||||
| Stanley Black & Decker Inc. | 9,756 | 1,023,014 | ||||||
| Textron Inc. | 13,902 | 848,995 | ||||||
| TransDigm Group Inc.(a) | 3,352 | 1,798,918 | ||||||
| Union Pacific Corp. | 40,670 | 8,674,098 | ||||||
| United Airlines Holdings Inc.(a) | 21,117 | 747,964 | ||||||
| United Parcel Service Inc., Class B | 47,561 | 8,681,785 | ||||||
| United Rentals Inc.(a) | 4,610 | 1,119,815 | ||||||
| Verisk Analytics Inc. | 10,207 | 1,766,730 | ||||||
| Waste Management Inc. | 24,690 | 3,777,076 | ||||||
| Westinghouse Air Brake Technologies Corp. | 11,806 | 969,036 | ||||||
| WW Grainger Inc. | 2,787 | 1,266,496 | ||||||
| Xylem Inc./NY | 11,762 | 919,553 | ||||||
| 159,299,576 | ||||||||
| Total Long-Term Investments — 99.5% | ||||||||
| (Cost: $371,603,860) | 301,959,746 | |||||||
2
| Schedule of Investments (unaudited) (continued) | iShares® Global Industrials ETF |
| June 30, 2022 | (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Short-Term Securities | ||||||||
| Money Market Funds — 0.4% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 1.61%(d)(e)(f) | 737,132 | $ | 737,059 | |||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 1.35%(d)(e) | 520,000 | 520,000 | ||||||
| Total Short-Term Securities — 0.4% | ||||||||
| (Cost: $1,256,882) | 1,257,059 | |||||||
| Total Investments in Securities — 99.9% | ||||||||
| (Cost: $372,860,742) | 303,216,805 | |||||||
| Other Assets Less Liabilities — 0.1% | 169,823 | |||||||
| Net Assets — 100.0% | $ | 303,386,628 | ||||||
| (a) | Non-income producing security. |
| (b) | All or a portion of this security is on loan. |
| (c) | 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. |
| (d) | Affiliate of the Fund. |
| (e) | Annualized 7-day yield as of period end. |
| (f) | 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 period ended June 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 03/31/22 | Purchases at Cost | Proceeds from Sale | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares | $ | 2,815,249 | $ | — | $ | (2,078,769 | )(a) | $ | 863 | $ | (284 | ) | $ | 737,059 | 737,132 | $ | 1,450 | (b) | $ | — | ||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares | 310,000 | 210,000 | (a) | — | — | — | 520,000 | 520,000 | 1,035 | — | ||||||||||||||||||||||||||
| $ | 863 | $ | (284 | ) | $ | 1,257,059 | $ | 2,485 | $ | — | ||||||||||||||||||||||||||
| (a) | Represents net amount purchased (sold). |
| (b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
| Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) | ||||||||||
| Long Contracts | ||||||||||||||
| TOPIX Index | 1 | 09/08/22 | $ | 138 | $ | (5,614 | ) | |||||||
| Euro STOXX 50 Index | 9 | 09/16/22 | 325 | (4,564 | ) | |||||||||
| XAI Industrial Index | 10 | 09/16/22 | 880 | (21,833 | ) | |||||||||
| $ | (32,011 | ) | ||||||||||||
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
| • | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access; |
| • | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and |
3
| Schedule of Investments (unaudited) (continued) | iShares® Global Industrials ETF |
| June 30, 2022 |
Fair Value Measurements (continued)
| • | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Investments | ||||||||||||||||
| Assets | ||||||||||||||||
| Common Stocks | $ | 175,144,747 | $ | 126,814,999 | $ | — | $ | 301,959,746 | ||||||||
| Money Market Funds | 1,257,059 | — | — | 1,257,059 | ||||||||||||
| $ | 176,401,806 | $ | 126,814,999 | $ | — | $ | 303,216,805 | |||||||||
| Derivative financial instruments(a) | ||||||||||||||||
| Liabilities | ||||||||||||||||
| Futures Contracts | $ | (21,833 | ) | $ | (10,178 | ) | $ | — | $ | (32,011 | ) | |||||
| (a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Portfolio Abbreviations
| ADR | American Depositary Receipt |
| NVS | Non-Voting Shares |
4