iShares

®

MSCI

Taiwan

ETF

Schedule

of

Investments

(unaudited)

November

30,

2025

(Percentages

shown

are

based

on

Net

Assets)

1

Schedule

of

Investments

Security

Shares

Value

a

Common

Stocks

Automobile

Components

 — 

0

.3

%

Cheng

Shin

Rubber

Industry

Co.

Ltd.

(a)

..........

24,413,670

$

24,759,321

a

Banks

 — 

10

.3

%

Chang

Hwa

Commercial

Bank

Ltd.

(a)

............

59,334,970

38,212,901

CTBC

Financial

Holding

Co.

Ltd.

..............

87,758,325

121,591,515

E.Sun

Financial

Holding

Co.

Ltd.

..............

80,520,010

77,907,718

First

Financial

Holding

Co.

Ltd.

................

67,286,865

59,219,592

Hua

Nan

Financial

Holdings

Co.

Ltd.

............

59,046,694

55,435,615

Mega

Financial

Holding

Co.

Ltd.

...............

64,711,297

82,742,946

Shanghai

Commercial

&

Savings

Bank

Ltd.

(The)

(a)

..

31,744,218

39,579,277

SinoPac

Financial

Holdings

Co.

Ltd.

............

83,868,488

72,082,966

Taiwan

Business

Bank

.....................

70,101,696

35,427,670

Taiwan

Cooperative

Financial

Holding

Co.

Ltd.

(a)

....

67,681,020

51,464,422

TS

Financial

Holding

Co.

Ltd.

.................

149,252,483

85,899,305

719,563,927

a

Biotechnology

 — 

0

.6

%

PharmaEssentia

Corp.

(a)

....................

2,485,396

40,918,642

a

Chemicals

 — 

2

.1

%

Formosa

Chemicals

&

Fibre

Corp.

(a)

............

34,436,610

36,706,754

Formosa

Plastics

Corp.

(a)

...................

30,692,518

40,759,053

Nan

Ya

Plastics

Corp.

......................

35,515,938

66,894,454

144,360,261

a

Communications

Equipment

 — 

1

.6

%

Accton

Technology

Corp.

...................

3,347,000

109,653,599

a

Construction

Materials

 — 

1

.1

%

Asia

Cement

Corp.

........................

27,226,136

33,686,940

TCC

Group

Holdings

Co.

Ltd.

(a)

...............

55,884,645

40,735,217

74,422,157

a

Consumer

Staples

Distribution

&

Retail

 — 

0

.5

%

President

Chain

Store

Corp.

(a)

................

4,926,215

37,640,683

a

Diversified

Telecommunication

Services

 — 

1

.2

%

Chunghwa

Telecom

Co.

Ltd.

(a)

................

19,782,648

82,364,169

a

Electrical

Equipment

 — 

1

.8

%

Bizlink

Holding,

Inc.

.......................

1,085,000

55,887,512

Fortune

Electric

Co.

Ltd.

(a)

...................

1,686,980

37,756,859

Teco

Electric

and

Machinery

Co.

Ltd.

(a)

..........

10,759,000

30,144,812

Ya

Hsin

Industrial

Co.

Ltd.

(b)

(c)

.................

6,845,461

2

123,789,185

a

Electronic

Equipment,

Instruments

&

Components

 — 

16

.9

%

Chroma

ATE,

Inc.

.........................

2,222,000

58,149,404

Delta

Electronics,

Inc.

......................

8,957,180

267,017,645

E

Ink

Holdings,

Inc.

(a)

......................

6,924,000

42,466,125

Elite

Material

Co.

Ltd.

......................

1,976,000

96,535,568

Gold

Circuit

Electronics

Ltd.

..................

2,385,000

48,354,863

Hon

Hai

Precision

Industry

Co.

Ltd.

.............

51,929,296

374,199,073

Innolux

Corp.

...........................

80,539,296

34,820,897

Largan

Precision

Co.

Ltd.

(a)

..................

670,794

47,258,789

Lotes

Co.

Ltd.

...........................

870,000

36,452,025

Pacific

Electric

Wire

&

Cable

Co.

Ltd.

(b)

(c)

.........

197

—

Unimicron

Technology

Corp.

(a)

................

9,364,000

55,858,032

Yageo

Corp.

............................

10,758,836

80,826,935

Zhen

Ding

Technology

Holding

Ltd.

(a)

............

7,502,072

34,872,331

1,176,811,687

a

Security

Shares

Value

a

Entertainment

 — 

0

.6

%

International

Games

System

Co.

Ltd.

(a)

..........

1,744,000

$

41,343,506

a

Financial

Services

 — 

1

.7

%

Chailease

Holding

Co.

Ltd.

(a)

.................

12,249,304

40,250,613

Yuanta

Financial

Holding

Co.

Ltd.

..............

65,695,838

75,659,015

115,909,628

a

Food

Products

 — 

0

.9

%

Uni-President

Enterprises

Corp.

...............

26,273,189

64,108,892

a

Household

Durables

 — 

0

.4

%

Nien

Made

Enterprise

Co.

Ltd.

(a)

...............

2,399,000

28,528,827

a

Industrial

Conglomerates

 — 

0

.5

%

Far

Eastern

New

Century

Corp.

...............

37,056,843

33,326,688

a

Insurance

 — 

4

.0

%

Cathay

Financial

Holding

Co.

Ltd.

..............

47,236,798

96,706,730

Fubon

Financial

Holding

Co.

Ltd.

(a)

.............

44,843,419

132,448,826

KGI

Financial

Holding

Co.

Ltd.

(a)

...............

100,220,460

50,334,983

279,490,539

a

Machinery

 — 

0

.5

%

Airtac

International

Group

...................

1,232,826

35,560,390

a

Marine

Transportation

 — 

1

.4

%

Evergreen

Marine

Corp.

Taiwan

Ltd.

(a)

...........

7,621,013

43,653,404

Wan

Hai

Lines

Ltd.

(a)

.......................

9,709,000

24,973,459

Yang

Ming

Marine

Transport

Corp.

(a)

............

19,362,000

32,139,195

100,766,058

a

Metals

&

Mining

 — 

0

.7

%

China

Steel

Corp.

(a)

.......................

80,649,977

46,953,221

a

Passenger

Airlines

 — 

0

.8

%

China

Airlines

Ltd.

(a)

.......................

40,392,000

24,750,943

Eva

Airways

Corp.

(a)

.......................

29,062,000

31,615,232

56,366,175

a

Pharmaceuticals

 — 

0

.7

%

Caliway

Biopharmaceuticals

Co.

Ltd.

(c)

..........

9,273,000

46,527,713

a

Semiconductors

&

Semiconductor

Equipment

 — 

36

.2

%

Alchip

Technologies

Ltd.

(a)

...................

516,279

54,585,683

ASE

Technology

Holding

Co.

Ltd.

..............

17,395,432

127,598,774

ASPEED

Technology,

Inc.

...................

227,000

53,216,950

eMemory

Technology,

Inc.

(a)

..................

582,000

38,110,919

Global

Unichip

Corp.

......................

794,000

57,522,480

Globalwafers

Co.

Ltd.

(a)

.....................

2,748,000

32,987,656

Jentech

Precision

Industrial

Co.

Ltd.

............

706,000

65,677,268

King

Yuan

Electronics

Co.

Ltd.

(a)

...............

7,225,000

52,919,812

MediaTek,

Inc.

...........................

6,578,175

293,142,734

Novatek

Microelectronics

Corp.

(a)

..............

3,831,544

47,625,932

Realtek

Semiconductor

Corp.

(a)

...............

3,132,063

52,121,151

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

.....

33,274,467

1,534,165,287

United

Microelectronics

Corp.

(a)

...............

58,311,501

85,616,036

Vanguard

International

Semiconductor

Corp.

(a)

.....

11,609,539

33,594,778

2,528,885,460

a

Specialty

Retail

 — 

0

.6

%

Hotai

Motor

Co.

Ltd.

.......................

2,294,500

44,684,508

a

Technology

Hardware,

Storage

&

Peripherals

 — 

12

.1

%

Advantech

Co.

Ltd.

.......................

4,043,021

37,184,426

Asia

Vital

Components

Co.

Ltd.

...............

2,161,000

95,135,598

Asustek

Computer,

Inc.

(a)

....................

4,272,857

81,999,586

Schedule

of

Investments

(unaudited)

(continued)

November

30,

2025

iShares

®

MSCI

Taiwan

ETF

(Percentages

shown

are

based

on

Net

Assets)

2

Security

Shares

Value

a

Technology

Hardware,

Storage

&

Peripherals

(continued)

Catcher

Technology

Co.

Ltd.

(a)

................

5,391,743

$

34,539,014

Compal

Electronics,

Inc.

(a)

...................

37,856,554

35,482,939

Gigabyte

Technology

Co.

Ltd.

(a)

...............

4,507,000

35,084,730

Inventec

Corp.

(a)

.........................

26,056,868

36,286,381

King

Slide

Works

Co.

Ltd.

...................

385,000

46,960,787

Lite-On

Technology

Corp.

(a)

..................

13,262,071

67,383,691

Pegatron

Corp.

..........................

16,882,037

38,833,888

Quanta

Computer,

Inc.

(a)

....................

14,090,240

127,005,238

Wistron

Corp.

(a)

..........................

17,478,000

80,794,614

Wiwynn

Corp.

(a)

..........................

860,000

125,654,198

842,345,090

a

Textiles,

Apparel

&

Luxury

Goods

 — 

0

.9

%

Eclat

Textile

Co.

Ltd.

(a)

.....................

2,334,601

32,673,498

Feng

TAY

Enterprise

Co.

Ltd.

(a)

................

6,753,916

27,847,880

60,521,378

a

Transportation

Infrastructure

 — 

0

.3

%

Taiwan

High

Speed

Rail

Corp.

................

27,446,000

24,454,529

a

Wireless

Telecommunication

Services

 — 

1

.2

%

Far

EasTone

Telecommunications

Co.

Ltd.

(a)

.......

13,791,259

38,733,595

Taiwan

Mobile

Co.

Ltd.

(a)

....................

12,489,609

43,007,604

81,741,199

a

Total

Common

Stocks — 99.9%

(Cost:

$

3,176,001,651

)

...............................

6,965,797,432

Security

Shares

Value

a

Rights

Electronic

Equipment,

Instruments

&

Components

 — 

0

.0

%

Unimicron

Technology

Corp.

(Expires

01/05/26

)

(a)

(c)

..

9,072,000

$

459,633

a

Total

Rights — 0.0%

(Cost:

$

–

)

........................................

459,633

Total

Long-Term

Investments — 99.9%

(Cost:

$

3,176,001,651

)

...............................

6,966,257,065

a

Short-Term

Securities

Money

Market

Funds

 — 

9

.5

%

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

,

4.11

%

(d)

(e)

(f)

......................

665,053,341

665,385,868

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

,

3.94

%

(d)

(e)

............................

673,168

673,168

a

Total

Short-Term

Securities — 9.5%

(Cost:

$

666,037,442

)

................................

666,059,036

Total

Investments

—

109.4%

(Cost:

$

3,842,039,093

)

...............................

7,632,316,101

Liabilities

in

Excess

of

Other

Assets

—

(

9

.4

)

%

...............

(

656,380,965

)

Net

Assets

—

100.0%

.................................

$

6,975,935,136

(a)

All

or

a

portion

of

this

security

is

on

loan.

(b)

Security

is

valued

using

significant

unobservable

inputs

and

is

classified

as

Level

3

in

the

fair

value

hierarchy.

(c)

Non-income

producing

security.

(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

November

30,

2025

for

purposes

of

Section

2(a)(3)

of

the

Investment

Company

Act

of

1940,

as

amended,

were

as

follows:

Affiliated

Issuer

Value

at

08/31/25

Purchases

at

Cost

Proceeds

from

Sale

s

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

11/30/25

  Shares

Held

at

11/30/25

Income

  Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Cash

Funds:

Institutional,

SL

Agency

Shares

$

619,294,919

‌

$

46,084,700

(a)

$

—

‌

$

36,739

‌

$

(

30,490

)

$

665,385,868

‌

665,053,341

‌

$

1,893,857

(b)

$

—

‌

BlackRock

Cash

Funds:

Treasury,

SL

Agency

Shares

.

4,560,000

‌

—

‌

(

3,886,832

)

(a)

—

‌

—

‌

673,168

‌

673,168

‌

30,516

‌

—

‌

$

36,739

‌

$

(

30,490

)

$

666,059,036

‌

$

1,924,373

‌

$

—

‌

(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

collateral

investment

fees,

and

other

payments

to

and

from

borrowers

of

securities.

iShares

®

MSCI

Taiwan

ETF

Schedule

of

Investments

(unaudited)

(continued)

November

30,

2025

3

Schedule

of

Investments

Derivative

Financial

Instruments

Outstanding

as

of

Period

End

Fair

Value

Hierarchy

as

of

Period

End

Various

inputs

are

used

in

determining

the

fair

value

of

financial

instruments

at

the

measurement

date.

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

that

the

Fund

has

the

ability

to

access

for

identical

assets

or

liabilities;

Level

2

–

Inputs

other

than

quoted

prices

included

within

Level

1

that

are

observable

for

the

asset

or

liability,

either

directly

or

indirectly;

and

Level

3

–

Inputs

that

are

unobservable

and

significant

to

the

entire

fair

value

measurement

for

the

asset

or

liability

(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.

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. 

Futures

Contracts

Description

Number

of

Contracts

Expiration

Date

Notional

Amount

(000)

Value/

Unrealized

Appreciation

(Depreciation)

Long

Contracts

FTSE

Taiwan

Index

....................................................................

24

12/30/25

$

2,191

$

84,084

Level

1

Level

2

Level

3

Total

Assets

Investments

Long-Term

Investments

Common

Stocks

.........................................

$

—

‌

$

6,965,797,430

‌

$

2

‌

$

6,965,797,432

‌

Rights

................................................

459,633

‌

—

‌

—

‌

459,633

‌

Short-Term

Securities

Money

Market

Funds

......................................

666,059,036

‌

—

‌

—

‌

666,059,036

‌

$

666,518,669

‌

$

6,965,797,430

‌

$

2

‌

$

7,632,316,101

‌

Derivative

Financial

Instruments

(a)

Assets

Equity

Contracts

...........................................

$

84,084

‌

$

—

‌

$

—

‌

$

84,084

‌

(a)

Derivative

financial

instruments

are

futures

contracts.

Futures

contracts

are

valued

at

the

unrealized

appreciation

(depreciation)

on

the

instrument.