FUND QUARTERLY PORTFOLIO HOLDINGS – AS OF 31 MAY 2018 · portfolio holdings of various iShares ETFs with a fiscal year end of 31 August 2018, including those detailed in the below

Level 37, Chifley Tower 2 Chifley Square, Sydney NSW 2000

PO Box N43, Grosvenor Place, NSW 1220

www.blackrock.com.au or call 1300 474 273

iShares, Inc. ARBN 125 632 279 formed in Maryland USA. The liability of shareholders is limited.

c/- BlackRock Investment Management (Australia) Limited ABN 13 006 165 975

13 August 2018

Market Announcements Office

ASX Limited

FUND QUARTERLY PORTFOLIO HOLDINGS – AS OF 31 MAY 2018

FOR RELEASE UNDER EACH FUND LISTED BELOW

BlackRock Investment Management (Australia) Limited, on behalf of iShares, Inc, makes this announcement regarding certain iShares exchange traded funds listed on the ASX.

Attached is a copy of a “Form N-Q: Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company” document relating to certain funds of iShares Trust, which has been lodged with the US Securities and Exchange Commission. This document details the historical portfolio holdings of various iShares ETFs with a fiscal year end of 31 August 2018, including those detailed in the below table, each of which is listed on the ASX.

All information included in the attached document relating to iShares ETFs of iShares, Inc, not detailed in the below table should be disregarded.

Unless otherwise stated, financial information in the attached report is in US dollars.

ASX Code Fund

IEM

IJP

IKO

ITW

iShares MSCI Emerging Markets ETF

iShares MSCI Japan ETF

iShares MSCI South Korea ETF

iShares MSCI Taiwan ETF

For up to date portfolio holding information please visit our website at www.blackrock.com.au/ishares.

Important Notice

Before investing in an iShares ETF, you should carefully consider whether such products are appropriate for you, read the applicable prospectus or product disclosure statement (PDS) available at www.blackrock.com.au and consult an investment adviser.

An iShares ETF is not sponsored, endorsed, issued, sold or promoted by the provider of the index which a particular fund seeks to track. No index provider makes any representation regarding the advisability of investing in the iShares ETFs. Further information on the index providers can be found on BIMAL’s website terms and conditions at www.blackrock.com.au.

For more information about iShares ETFs go to www.blackrock.com/au/ishares or call 1300 474 273.

© 2018 BlackRock, Inc. All Rights reserved. BLACKROCK, iSHARES and the stylized i logo are registered and unregistered trademarks of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners.

** END **

8/13/2018 Form N-Q - iShares Inc

https://www.sec.gov/Archives/edgar/data/930667/000119312518231419/d910359dnq.htm 1/418

N-Q 1 d910359dnq.htm FORM N-Q - ISHARES INC

UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGSOF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-09102

iShares, Inc.(Exact name of registrant as specified in charter)

c/o: State Street Bank and Trust Company100 Summer Street, 4th Floor, Boston, MA 02110

(Address of principal executive offices) (Zip code)

The Corporation Trust Incorporated351 West Camden Street, Baltimore, MD 21201

(Name and address of agent for service)

Registrant’s telephone number, including area code: (415) 670-2000

Date of fiscal year end: August 31, 2018Date of reporting period: May 31, 2018



Item 1. Schedules of Investments.



iShares® Core MSCI Emerging Markets ETF Consolidated Schedule of Investments (unaudited)

May 31, 2018

(Percentages shown are based on Net Assets)

AES Tiete Energia SA, NVS

Aliansce Shopping Centers SA

Alupar Investimento SA, Units, NVS

Ambev SA

Arezzo Industria e Comercio SA

Atacadao Distribuicao Comercio e Industria Ltda

B2W Cia. Digital(a)

B3 SA - Brasil, Bolsa, BalcaoBanco Bradesco SABanco do Brasil SABanco Santander Brasil SA, NVSBB Seguridade Participacoes SABR Malls Participacoes SABR Properties SABRF SA(a)

CCR SACentrais Eletricas Brasileiras SA(a)

Cia. de Saneamento Basico do Estado de SaoPauloCia. de Saneamento de Minas Gerais-COPASACia. HeringCia. Siderurgica Nacional SA(a)

Cielo SACosan SA Industria e ComercioCVC Brasil Operadora e Agencia de ViagensSACyrela Brazil Realty SA Empreendimentos eParticipacoesDuratex SAEcoRodovias Infraestrutura e Logistica SAEDP - Energias do Brasil SAEletropaulo Metropolitana Eletricidade de SaoPaulo SAEmbraer SAEngie Brasil Energia SAEquatorial Energia SAEstacio Participacoes SAEz Tec Empreendimentos e Participacoes SAFibria Celulose SAFleury SAGafisa SA(a)

Hypera SAIguatemi Empresa de Shopping Centers SAInstituto Hermes Pardini SAIochpe Maxion SAIRB Brasil Resseguros S/AJBS SAJSL SA(a)

Klabin SA, NVS

Security Shares Value

Common StocksBrazil — 3.9%

1,260,000$

3,373,263

934,000

3,804,670

1,486,024

6,232,917

36,303,999

191,948,481

475,712

5,460,906

2,933,900

12,565,810

1,605,174

10,926,58816,453,228 96,182,0538,166,524 57,191,2166,765,513 55,173,4353,315,063 30,070,1735,402,743 37,807,0876,596,865 18,245,6491,013,600 2,082,1534,046,958 23,277,3039,791,187 27,080,5241,828,000 7,181,332

2,734,228 19,199,544604,400 7,011,206

1,061,674 4,840,7585,117,956 10,582,0989,633,618 43,847,3771,375,877 14,334,939

1,106,540 15,153,808

2,106,700 6,613,0482,758,908 7,223,1452,044,200 4,336,4562,448,200 8,690,862

968,705 9,104,2485,431,883 32,803,8151,053,900 10,468,1091,633,376 26,662,6192,254,024 15,222,326

615,823 2,974,8952,011,600 38,232,8511,433,614 9,462,341

1 32,696,100 20,415,950

751,400 6,339,600394,074 2,100,501862,828 5,511,923469,615 6,080,701

7,379,561 17,695,649221,213 316,014

5,421,624 30,558,099

MRV Engenharia e Participacoes SA

Multiplan Empreendimentos Imobiliarios SA

Multiplus SA

Natura Cosmeticos SA

Odontoprev SA

Petrobras Distribuidora SA

Petroleo Brasileiro SA

Porto Seguro SAQualicorp SARaia Drogasil SARumo SA(a)

Sao Martinho SASLC Agricola SASmiles Fidelidade SASonae Sierra Brasil SASul America SA, NVSSuzano Papel e Celulose SATIM Participacoes SATOTVS SATransmissora Alianca de Energia Eletrica SA,NVSUltrapar Participacoes SAVale SAVia Varejo SAWEG SA

AES Gener SAAguas Andinas SA, Class ABanco de ChileBanco de Credito e Inversiones SABanco Santander ChileCAP SACencosud SACia. Cervecerias Unidas SACia. Sud Americana de Vapores SA(a)

Colbun SAEmpresa Nacional de Telecomunicaciones SAEmpresas CMPC SAEmpresas COPEC SAEnel Americas SAEnel Chile SAEngie Energia Chile SAInversiones Aguas Metropolitanas SAInversiones La Construccion SAItau CorpBancaLatam Airlines Group SAParque Arauco SASACI Falabella


Brazil (continued)

2,416,592$

8,740,885

621,011

9,783,627

485,600

3,390,287

1,539,817

13,942,517

2,323,600

8,710,263

2,488,912

12,163,692

23,784,279

141,720,211

982,198

11,211,7821,980,000 10,128,4891,864,357 31,173,9949,018,081 33,442,0051,682,711 7,916,407

660,389 8,033,088559,200 8,749,771403,043 2,280,344

1,661,832 8,737,4423,544,754 41,024,9327,022,400 25,287,089

825,000 6,214,001

1,504,400 7,772,3602,740,180 36,790,322

25,141,883 341,814,2981,192,835 7,479,1426,042,059 27,873,571

1,937,202,206Chile — 1.0%

24,950,311 6,510,66620,453,624 11,865,508

210,534,723 32,646,856351,490 24,723,074

522,598,745 41,904,532658,056 6,848,766

10,850,497 28,745,0181,213,437 15,433,999

146,425,449 5,642,22466,988,232 15,093,0721,193,708 12,755,2609,691,501 36,669,2593,341,084 50,950,520

230,766,214 44,584,881239,002,698 25,801,008

4,240,515 8,511,0384,048,982 6,622,186

452,307 7,905,2491,177,213,735 12,128,750

2,404,626 28,958,7535,251,891 15,167,8895,419,834 50,677,441



1

Kroton Educacional SALight SALinx SALocaliza Rent a Car SALojas Renner SAM. Dias Branco SAMagazine Luiza SAMagnesita Refratarios SAMarfrig Global Foods SA(a)

Minerva SA

11,083,415 32,172,424842,500 2,793,968

1,038,300 5,297,3784,159,684 27,622,8805,848,960 46,599,440

902,704 10,180,736630,821 18,365,385455,844 8,248,903

2,201,013 4,675,0211,304,000 2,479,107

Salfacorp SASONDA SAVina Concha y Toro SA

21Vianet Group Inc., GDR(a)

361 Degrees International Ltd.3SBio Inc.(a)(b)(c)

51job Inc., ADR(a)

58.com Inc., ADR(a)

AAC Technologies Holdings Inc.

5,372,491 9,462,9803,728,467 6,082,6313,895,993 8,319,766

514,011,326China — 30.8%

736,262 6,088,8879,186,000 2,892,528

10,187,000 29,155,249239,203 25,451,199743,516 60,388,370

5,828,000 87,745,237



iShares® Core MSCI Emerging Markets ETF Consolidated Schedule of Investments (unaudited) (continued)

May 31, 2018


Agile Group Holdings Ltd.

Agricultural Bank of China Ltd., Class A

Agricultural Bank of China Ltd., Class H

AGTech Holdings Ltd.(a)(c)

Air China Ltd., Class H

Ajisen China Holdings Ltd.(c)

Alibaba Group Holding Ltd., ADR(a)(c)

Alibaba Health Information Technology Ltd.(a)(c)

Alibaba Pictures Group Ltd.(a)(c)

Aluminum Corp. of China Ltd., Class H(a)(c)

Anhui Conch Cement Co. Ltd., Class HANTA Sports Products Ltd.(c)

APT Satellite Holdings Ltd.Asia Cement China Holdings Corp.Autohome Inc., ADR(c)

AVIC International Holding HK Ltd.(a)(c)

AviChina Industry & Technology Co. Ltd., ClassHBAIC Motor Corp. Ltd., Class H(b)

Baidu Inc., ADR(a)(c)

Bank of Beijing Co. Ltd., Class ABank of China Ltd., Class HBank of Communications Co. Ltd., Class ABank of Communications Co. Ltd., Class HBaoshan Iron & Steel Co. Ltd., Class ABaozun Inc., ADR(a)(c)

Beijing Capital International Airport Co. Ltd.,Class HBeijing Capital Land Ltd., Class HBeijing Enterprises Holdings Ltd.Beijing Enterprises Medical & Health Group Ltd.(a)(c)

Beijing Enterprises Water Group Ltd.(c)

Beijing Tong Ren Tang Chinese Medicine Co.Ltd.Bitauto Holdings Ltd., ADR(a)(c)

BOC Aviation Ltd.(b)

BOE Technology Group Co. Ltd., Class ABosideng International Holdings Ltd.Brilliance China Automotive Holdings Ltd.(c)

BYD Co. Ltd., Class H(c)

BYD Electronic International Co. Ltd.(c)

C C Land Holdings Ltd.CGN Power Co. Ltd., Class H(b)

Changyou.com Ltd., ADRChaowei Power Holdings Ltd.(c)

China Aerospace International Holdings Ltd.(c)


China (continued)

13,338,500$

25,438,570

9,022,173

5,056,569

230,027,000

119,058,103

28,032,000

3,287,729

14,840,000

17,196,968

9,636,000

3,918,696

9,141,308

1,810,070,396

32,438,000

29,732,886131,270,000 17,069,45932,690,000 17,211,51410,032,500 61,518,8718,959,000 51,624,0517,053,500 3,165,2026,668,500 4,038,089

473,347 53,355,67453,722,000 2,157,331

18,715,000 12,501,87713,000,000 12,628,5192,186,700 530,405,9522,827,600 2,922,310

622,721,000 325,485,3743,054,000 2,870,225

70,408,000 55,740,0971,819,567 2,391,831

307,551 18,855,952

13,212,000 19,538,02510,372,000 5,368,3733,966,000 21,917,748

79,032,000 4,231,61747,676,000 28,748,492

3,952,000 8,383,481234,862 5,855,110529,000 3,284,269

4,936,500 3,175,16848,658,000 5,458,72324,526,000 45,836,8545,232,500 33,953,2335,958,000 9,463,955

24,285,500 5,541,84391,376,000 25,977,127

140,367 2,629,0748,243,000 4,791,861

40,756,000 4,364,404

China Everbright Bank Co. Ltd., Class A

China Everbright Bank Co. Ltd., Class H

China Everbright International Ltd.

China Everbright Ltd.

China Everbright Water Ltd.(c)

China Evergrande Group(a)(c)

China Fiber Optic Network System Group Ltd.(a)(d)

China First Capital Group Ltd.(a)

China Foods Ltd.(c)

China Galaxy Securities Co. Ltd., Class HChina Gas Holdings Ltd.(c)

China Huarong Asset Management Co. Ltd.,Class H(b)

China Huishan Dairy Holdings Co. Ltd.(a)(d)

China Huiyuan Juice Group Ltd.(a)(c)

China Innovationpay Group Ltd.(a)(c)

China International Capital Corp. Ltd., ClassH(b)

China International Travel Service Corp. Ltd.,Class AChina Investment Fund International HoldingsCo. Ltd.(a)

China Jinmao Holdings Group Ltd.China Lesso Group Holdings Ltd.(c)

China Life Insurance Co. Ltd., Class HChina Lilang Ltd.China Literature Ltd.(a)(b)

China Lodging Group Ltd., ADRChina Logistics Property Holdings Co. Ltd.(a)(b)(c)

China Longyuan Power Group Corp. Ltd., ClassHChina Lumena New Materials Corp.(a)(c)(d)

China Maple Leaf Educational Systems Ltd.(c)

China Medical System Holdings Ltd.China Mengniu Dairy Co. Ltd.China Merchants Bank Co. Ltd., Class AChina Merchants Bank Co. Ltd., Class HChina Merchants Land Ltd.(c)

China Merchants Port Holdings Co. Ltd.China Merchants Shekou Industrial ZoneHoldings Co. Ltd., Class AChina Metal Recycling Holdings Ltd., NVS(a)(d)

China Minsheng Banking Corp. Ltd., Class HChina Mobile Ltd.China Molybdenum Co. Ltd., Class H(c)


China (continued)

4,201,709$

2,604,155

20,810,000

10,372,966

20,993,000

31,365,790

7,890,000

17,340,770

10,475,600

3,289,657

23,105,000

67,746,665

10,394,800

609,577

25,376,000

25,427,27510,588,000 5,318,19528,333,000 17,734,87614,243,400 59,104,259

81,224,000 27,336,46924,638,800 3110,877,000 2,801,01078,440,000 9,399,820

5,808,800 12,248,306

121,809 1,286,464

4,240,000 4,329,64741,682,000 23,805,685

352,000 248,15458,555,000 163,479,0906,576,000 9,892,315

934,400 8,725,5851,042,000 45,858,420

9,880,000 3,551,895

25,694,000 23,715,0692,584,000 37,322,000 13,945,511

11,366,000 27,385,68222,477,000 81,665,2541,154,592 5,187,638

31,066,964 127,925,00622,214,000 4,361,15610,988,270 25,074,741

795,379 2,631,21062,400 —

41,004,100 39,100,56148,623,000 433,904,24731,689,000 20,077,935



2

China Agri-Industries Holdings Ltd.China Aircraft Leasing Group Holdings Ltd.(c)

China Animal Healthcare Ltd.(a)(c)(d)

China Aoyuan Property Group Ltd.(c)

China BlueChemical Ltd., Class HChina Cinda Asset Management Co. Ltd., ClassHChina CITIC Bank Corp. Ltd., Class HChina Communications Construction Co. Ltd.,Class HChina Communications Services Corp. Ltd.,Class HChina Conch Venture Holdings Ltd.China Construction Bank Corp., Class HChina Datang Corp. Renewable Power Co. Ltd.,Class HChina Dongxiang Group Co. Ltd.

20,949,200 8,893,3584,317,500 4,568,4041,237,000 12,616

15,216,000 12,414,65318,346,000 6,127,690

72,129,000 26,114,53971,598,000 48,649,929

36,321,000 38,987,375

21,214,000 13,657,40113,905,500 48,218,048

756,546,000 763,861,517

31,366,000 6,557,78437,996,000 7,217,358

China National Building Material Co. Ltd., ClassHChina Oil & Gas Group Ltd.China Oilfield Services Ltd., Class HChina Overseas Grand Oceans Group Ltd.China Overseas Land & Investment Ltd.China Pacific Insurance Group Co. Ltd., Class AChina Pacific Insurance Group Co. Ltd., Class HChina Petroleum & Chemical Corp., Class AChina Petroleum & Chemical Corp., Class HChina Power Clean Energy Development Co.Ltd.(c)

China Power International Development Ltd.China Railway Construction Corp. Ltd., Class HChina Railway Group Ltd., Class HChina Reinsurance Group Corp., Class HChina Resources Beer Holdings Co. Ltd.China Resources Cement Holdings Ltd.China Resources Gas Group Ltd.

32,568,850 37,284,89063,488,000 5,018,07815,794,000 16,510,49513,233,500 5,752,85230,182,000 101,002,339

563,745 2,928,10020,804,200 89,909,3442,286,980 2,517,108

201,304,200 196,834,993

5,381,000 2,970,33238,974,000 10,831,42516,167,000 18,322,52431,711,000 25,589,85113,700,000 3,073,88312,598,000 61,190,03310,900,000 12,839,6327,102,000 26,980,565




May 31, 2018


China Resources Land Ltd.

China Resources Pharmaceutical Group Ltd.(b)

China Resources Phoenix Healthcare HoldingsCo. Ltd.(c)

China Resources Power Holdings Co. Ltd.

China SCE Property Holdings Ltd.

China Shenhua Energy Co. Ltd., Class H

China Shineway Pharmaceutical Group Ltd.(c)

China Singyes Solar Technologies Holdings Ltd.(c)

China Southern Airlines Co. Ltd., Class HChina State Construction Engineering Corp.Ltd., Class AChina State Construction International HoldingsLtd.China Suntien Green Energy Corp. Ltd., ClassHChina Taiping Insurance Holdings Co. Ltd.China Telecom Corp. Ltd., Class HChina Traditional Chinese Medicine HoldingsCo. Ltd.China Travel International Investment HongKong Ltd.China Unicom Hong Kong Ltd.China Vanke Co. Ltd., Class AChina Vanke Co. Ltd., Class HChina Water Affairs Group Ltd.China Yangtze Power Co. Ltd., Class AChina Yuhua Education Corp Ltd., Class L(b)(c)

China ZhengTong Auto Services Holdings Ltd.(c)

Chinasoft International Ltd.(c)

Chong Sing Holdings FinTech Group Ltd.(a)(c)

Chongqing Rural Commercial Bank Co. Ltd.,Class HCIFI Holdings Group Co. Ltd.CIMC Enric Holdings Ltd.CITIC Ltd.CITIC Resources Holdings Ltd.(c)

CITIC Securities Co. Ltd., Class ACITIC Securities Co. Ltd., Class HCNOOC Ltd.Colour Life Services Group Co. Ltd.(c)

Comba Telecom Systems Holdings Ltd.(c)

Concord New Energy Group Ltd.Coolpad Group Ltd.(a)(c)(d)

COSCO SHIPPING Holdings Co. Ltd., ClassH(a)

COSCO SHIPPING International Hong KongCo. Ltd.(c)


China (continued)

21,961,777$

80,633,233

14,212,000

21,814,024

7,328,500

9,380,002

15,056,000

30,825,438

16,974,200

8,958,675

26,910,500

70,328,238

3,865,000

8,415,724

8,524,000

3,194,80915,342,000 15,177,415

2,788,178 3,582,372

16,950,000 20,938,598

20,945,000 7,342,89213,326,308 47,823,610

108,422,000 50,588,594

19,512,000 17,909,703

23,850,000 10,580,87947,906,000 65,103,033

748,100 2,988,6869,731,887 34,800,3849,904,000 9,747,2491,373,195 3,668,027

10,774,000 7,897,669

9,268,500 7,999,30518,830,000 15,843,399

148,680,000 19,712,423

19,290,000 12,885,98528,402,000 21,978,1806,934,000 8,185,570

45,438,000 67,541,68133,378,000 3,872,1821,501,963 4,370,745

17,440,000 43,977,129141,903,000 238,791,915

5,909,000 5,762,74722,837,524 3,668,375

102,950,000 4,856,03922,836,000 174,673

10,864,000 6,107,767

9,832,000 4,111,212

Dongjiang Environmental Co. Ltd., Class H

Eastern Communications Co. Ltd., Class B

ENN Energy Holdings Ltd.

Fang Holdings Ltd., ADR(a)

Fantasia Holdings Group Co. Ltd.(c)

Far East Horizon Ltd.

FDG Electric Vehicles Ltd.(a)(c)

First Tractor Co. Ltd., Class HFocus Media Information Technology Co. Ltd.,Class AFoshan Haitian Flavouring & Food Co. Ltd.,Class AFosun International Ltd.Fu Shou Yuan International Group Ltd.Fufeng Group Ltd.(c)

Fullshare Holdings Ltd.(c)

Future Land Development Holdings Ltd.Fuyao Glass Industry Group Co. Ltd., Class H(b)

GCL New Energy Holdings Ltd.(a)(c)

GCL-Poly Energy Holdings Ltd.(a)

GDS Holdings Ltd., ADR(a)(c)

Geely Automobile Holdings Ltd.Genscript Biotech Corp.(c)

GF Securities Co. Ltd., Class HGlorious Property Holdings Ltd.(a)(c)

GOME Retail Holdings Ltd.(a)(c)

Great Wall Motor Co. Ltd., Class HGreatview Aseptic Packaging Co. Ltd.Gree Electric Appliances Inc. of Zhuhai, Class AGreentown China Holdings Ltd.(c)

Guangdong Investment Ltd.Guangdong Land Holdings Ltd.(a)

Guangzhou Automobile Group Co. Ltd., Class HGuangzhou R&F Properties Co. Ltd., Class HGuotai Junan Securities Co. Ltd., Class A(a)

Guotai Junan Securities Co. Ltd., Class H(a)(b)

Haier Electronics Group Co. Ltd.Haitian International Holdings Ltd.Haitong Securities Co. Ltd., Class HHanergy Thin Film Power Group Ltd.(a)(d)

Hangzhou Hikvision Digital Technology Co.Ltd., Class AHangzhou Steam Turbine Co. Ltd., Class BHC International Inc.(c)

Hengan International Group Co. Ltd.(c)

HengTen Networks Group Ltd.(a)(c)

Hi Sun Technology China Ltd.(a)


China (continued)

603,300$

887,551

3,992,749

2,303,816

6,202,000

63,845,222

2,091,244

10,602,607

33,733,500

6,106,662

18,152,000

19,276,296

230,325,000

4,580,573

7,560,000

2,602,194

1,448,395 2,824,228

361,675 4,231,38520,937,500 46,016,77710,786,000 12,017,82715,051,400 8,519,49753,290,000 25,136,31214,904,000 11,685,0904,304,400 15,940,901

75,350,000 4,082,501111,320,000 12,204,662

539,189 20,386,73639,533,000 112,135,7006,430,000 24,017,771

10,594,000 17,881,42231,861,000 2,274,582

106,601,000 11,959,08825,569,000 24,936,14413,416,000 10,039,573

392,100 2,907,6416,978,000 10,497,046

23,348,000 39,349,14010,092,000 2,573,12817,128,000 29,041,0567,991,200 18,744,9353,030,657 7,943,9741,858,200 4,320,872

10,549,000 37,924,0335,975,000 16,948,140

25,859,600 32,373,3328,046 —

956,795 5,847,9153,278,101 2,962,9395,558,500 3,670,6375,920,000 56,376,280

193,236,000 7,759,83929,712,000 5,492,297



3

COSCO SHIPPING Ports Ltd.(c)

Country Garden Holdings Co. Ltd.CPMC Holdings Ltd.(c)

CRRC Corp. Ltd., Class ACRRC Corp. Ltd., Class HCSPC Pharmaceutical Group Ltd.CT Environmental Group Ltd.(c)

Ctrip.com International Ltd., ADR(a)(c)

Dah Chong Hong Holdings Ltd.(c)

Dali Foods Group Co. Ltd.(b)

Daqin Railway Co. Ltd., Class ADawnrays Pharmaceutical Holdings Ltd.Dazhong Transportation Group Co. Ltd., ClassBDigital China Holdings Ltd.(a)(c)

Dongfeng Motor Group Co. Ltd., Class H

15,070,000 14,504,88660,101,733 117,841,2775,186,000 3,292,4262,676,521 3,827,511

31,504,750 28,154,52237,604,000 117,690,02428,198,000 3,990,2073,107,971 140,138,412

11,020,000 5,928,5457,943,000 6,126,2412,228,758 2,922,7566,769,000 4,185,240

3,955,943 1,894,8978,543,000 5,576,150

22,186,000 25,313,731

Hua Han Health Industry Holdings Ltd., ClassH(a)(c)(d)

Hua Hong Semiconductor Ltd.(b)(c)

Huabao International Holdings Ltd.(c)

Huaneng Power International Inc., Class HHuaneng Renewables Corp. Ltd., Class HHuangshi Dongbei Electrical Appliance Co. Ltd.,Class BHuatai Securities Co. Ltd., Class H(b)

Huaxia Bank Co. Ltd., Class AHutchison China MediTech Ltd.(a)

IGG Inc.(c)

iKang Healthcare Group Inc., ADR(a)(c)

22,424,288 1,286,4273,628,000 8,787,695

10,075,000 6,653,17533,842,000 26,144,64540,378,000 17,347,177

1,872,103 2,345,74512,914,000 25,452,1452,640,852 3,434,309

21,620 1,205,40713,120,000 20,606,235

544,752 11,102,046




May 31, 2018


Industrial & Commercial Bank of China Ltd.,Class H

Industrial Bank Co. Ltd., Class AInner Mongolia Yili Industrial Group Co. Ltd.,Class A

Inner Mongolia Yitai Coal Co. Ltd., Class B

JA Solar Holdings Co. Ltd., ADR(a)(c)

JD.com Inc., ADR(a)(c)

Jiangsu Expressway Co. Ltd., Class H

Jiangsu Hengrui Medicine Co. Ltd., Class AJiangsu Yanghe Brewery Joint-Stock Co. Ltd.,Class AJiangxi Copper Co. Ltd., Class HJiayuan International Group Ltd.(a)

JinkoSolar Holding Co. Ltd., ADR(a)(c)

Jumei International Holding Ltd., ADR(a)(c)

Kaisa Group Holdings Ltd.(a)(c)

Kama Co. Ltd., Class B(a)

Kangmei Pharmaceutical Co. Ltd., Class AKingboard Chemical Holdings Ltd.(c)

Kingboard Laminates Holdings Ltd.Kingdee International Software Group Co. Ltd.(c)

Kingsoft Corp. Ltd.(c)

Konka Group Co. Ltd., Class B(a)

KuangChi Science Ltd.(a)(c)

Kunlun Energy Co. Ltd.Kweichow Moutai Co. Ltd., Class AKWG Property Holdings Ltd.Lao Feng Xiang Co. Ltd., Class BLaunch Tech Co. Ltd.Lee & Man Paper Manufacturing Ltd.Lee's Pharmaceutical Holdings Ltd.(c)

Lenovo Group Ltd.(c)

Li Ning Co. Ltd.(a)

Lianhua Supermarket Holdings Co. Ltd., ClassH(a)(c)

Lifetech Scientific Corp.(a)(c)

Logan Property Holdings Co. Ltd.Longfor Properties Co. Ltd.Lonking Holdings Ltd.Luthai Textile Co. Ltd., Class BLuye Pharma Group Ltd.(c)

Meitu Inc.(a)(b)

Midea Group Co. Ltd., Class AMIE Holdings Corp.(a)

MMG Ltd.(a)

Momo Inc., ADR(a)

NetDragon Websoft Holdings Ltd.(c)


China (continued)

551,498,000$

456,994,958

1,671,600

4,157,177

830,383

4,022,635

10,259,003

13,716,287

522,362

3,781,901

5,664,152

199,264,867

10,690,000

16,135,541

471,092

5,599,019

156,282 3,505,54610,597,000 15,400,7518,928,000 17,118,122

286,069 5,040,5361,033,451 2,686,973

19,401,000 10,536,2933,404,200 2,178,6881,415,075 5,911,7485,828,200 23,181,5869,095,500 12,059,076

18,062,000 19,825,4526,622,000 20,893,8518,793,718 3,408,0053,054,000 443,842

27,098,000 24,665,47985,536 10,030,311

10,695,500 14,753,072889,964 2,965,360

2,356,000 2,823,30113,675,000 16,038,7041,972,000 3,222,916

61,484,000 32,606,90314,534,000 17,453,807

6,194,000 1,895,11925,174,000 9,210,6076,822,000 10,262,374

12,267,000 36,750,25319,519,000 9,779,2203,227,221 3,822,069

11,870,500 13,029,45618,368,000 19,458,843

655,000 5,410,4015,206,000 235,606

20,331,999 14,774,373932,002 42,797,532

1,980,500 5,201,112

People's Insurance Co. Group of China Ltd.(The), Class H

PetroChina Co. Ltd., Class H

Phoenix Media Investment Holdings Ltd.

Phoenix New Media Ltd., ADR(a)

PICC Property & Casualty Co. Ltd., Class H

Ping An Bank Co. Ltd., Class APing An Insurance Group Co. of China Ltd.,Class APing An Insurance Group Co. of China Ltd.,Class HPoly Property Group Co. Ltd.(a)

Poly Real Estate Group Co. Ltd., Class APostal Savings Bank of China Co. Ltd., ClassH(b)

Pou Sheng International Holdings Ltd.(c)

Q Technology Group Co. Ltd.(c)

Qingdao Haier Co. Ltd., Class ARenren Inc., ADR(a)(c)

Road King Infrastructure Ltd.Ronshine China Holdings Ltd.(a)(c)

SAIC Motor Corp. Ltd., Class ASany Heavy Equipment International HoldingsCo. Ltd.Semiconductor Manufacturing InternationalCorp.(a)(c)

Shandong Airlines Co. Ltd., Class BShandong Chenming Paper Holdings Ltd.,Class HShandong Weigao Group Medical Polymer Co.Ltd., Class HShang Gong Group Co. Ltd., Class B(a)

Shanghai Baosight Software Co. Ltd., Class BShanghai Chlor-Alkali Chemical Co. Ltd., ClassB(a)

Shanghai Electric Group Co. Ltd., Class H(a)

Shanghai Fosun Pharmaceutical Group Co.Ltd., Class HShanghai Haixin Group Co., Class BShanghai Industrial Holdings Ltd.Shanghai Industrial Urban Development GroupLtd.(c)

Shanghai Jin Jiang International Hotels GroupCo. Ltd., Class HShanghai Jinjiang International IndustrialInvestment Co. Ltd., Class BShanghai Jinjiang International Travel Co. Ltd.,Class BShanghai Lingyun Industries Development Co.Ltd., Class B(a)


China (continued)

54,491,000$

25,772,277

165,082,000

136,583,592

12,090,000

1,078,893

373,785

2,059,555

36,559,360

64,411,103

1,441,500

2,290,935

705,822

6,846,158

41,230,000

404,197,65018,645,000 8,984,7981,336,161 2,574,093

15,000,000 10,039,32921,151,000 3,963,7143,609,000 3,068,7881,269,393 3,983,295

229,147 2,014,2024,405,000 8,513,3253,699,000 5,441,821

579,594 3,280,063

16,404,000 5,228,100

23,815,200 31,149,8321,763,224 3,182,914

339,500 506,384

15,240,000 13,114,2324,236,700 3,427,4901,003,190 1,640,216

5,290,647 3,772,23127,362,000 10,464,614

4,150,000 26,585,0985,205,300 2,857,7103,948,000 10,493,909

22,268,000 4,797,578

392,000 172,908

2,000,542 2,324,630

1,058,800 2,401,358

2,092,215 1,464,551



4

NetEase Inc., ADRNew China Life Insurance Co. Ltd., Class HNew Oriental Education & Technology GroupInc., ADRNexteer Automotive Group Ltd.Nine Dragons Paper Holdings Ltd.Noah Holdings Ltd., ADR(a)(c)

North Mining Shares Co. Ltd.(a)(c)

Panda Green Energy Group Ltd.(a)(c)

Parkson Retail Group Ltd.(a)

PAX Global Technology Ltd.(c)

625,694 142,858,4546,618,900 30,039,308

1,128,049 112,207,0347,637,000 12,598,278

13,714,000 21,818,899267,253 16,003,110

152,120,000 2,462,88556,972,852 6,028,37426,302,500 3,789,0439,464,000 4,826,017

Shanghai Lujiazui Finance & Trade ZoneDevelopment Co. Ltd., Class BShanghai Pharmaceuticals Holding Co. Ltd.,Class HShanghai Pudong Development Bank Co. Ltd.,Class AShanghai Shibei Hi-Tech Co. Ltd., Class BShenzhen International Holdings Ltd.Shenzhen Investment Ltd.Shenzhou International Group Holdings Ltd.Shimao Property Holdings Ltd.Shougang Concord International EnterprisesCo. Ltd.(a)(c)

Shougang Fushan Resources Group Ltd.Shui On Land Ltd.

7,811,253 11,638,767

7,097,900 21,942,986

2,153,287 3,546,5392,754,218 1,079,6538,549,250 18,702,489

28,496,000 12,097,1276,021,000 70,463,6969,789,000 28,952,124

221,544,000 6,354,72325,010,000 6,281,07634,200,166 9,591,908




May 31, 2018


Sihuan Pharmaceutical Holdings Group Ltd.

SINA Corp./China(a)

Sino Biopharmaceutical Ltd.

Sino Oil And Gas Holdings Ltd.(a)

Sinofert Holdings Ltd.(a)(c)

Sinolink Worldwide Holdings Ltd.(a)(c)

Sino-Ocean Group Holding Ltd.

Sinopec Engineering Group Co. Ltd., Class HSinopec Kantons Holdings Ltd.(c)

Sinopec Shanghai Petrochemical Co. Ltd.,Class HSinopharm Group Co. Ltd., Class HSinosoft Technology Group Ltd.(c)

Sinotrans Ltd., Class HSinotrans Shipping Ltd.(c)

Sinotruk Hong Kong Ltd.Skyfame Realty Holdings Ltd.(a)

Skyworth Digital Holdings Ltd.SMI Holdings Group Ltd.(c)

SOHO China Ltd.Sohu.com Inc.(a)

SSY Group Ltd.Sun Art Retail Group Ltd.Sunac China Holdings Ltd.(c)

Suning.com Co. Ltd., Class ASunny Optical Technology Group Co. Ltd.Superb Summit International Group Ltd.(a)(c)(d)

TAL Education Group, Class A, ADR(a)

Tarena International Inc., ADRTCL Multimedia Technology Holdings Ltd.(c)

Tencent Holdings Ltd.Tian Ge Interactive Holdings Ltd.(b)(c)

Tianjin Development Holdings Ltd.Tianjin Port Development Holdings Ltd.Tianneng Power International Ltd.Tibet Water Resources Ltd.(a)(c)

Tingyi Cayman Islands Holding Corp.(c)

Tong Ren Tang Technologies Co. Ltd., Class HTongada Hong Tai Holdings Ltd.(a)

Tongda Group Holdings Ltd.(c)

Towngas China Co. Ltd.TravelSky Technology Ltd., Class HTruly International Holdings Ltd.(c)

Tsingtao Brewery Co. Ltd., Class HTuniu Corp., ADR(a)(c)

Uni-President China Holdings Ltd.


China (continued)

36,457,000$

9,434,765

513,789

46,662,317

36,560,000

92,470,236

18,435,000

96,357

31,546,000

4,262,891

28,346,000

3,649,785

25,466,500

17,206,766

3,382,000

3,634,58911,160,000 5,989,636

28,839,000 21,286,9229,522,000 42,304,3548,925,600 4,119,079

19,437,000 11,026,64418,889,000 5,177,2795,651,000 7,996,545

11,840,000 8,830,02018,304,000 8,703,80114,747,999 6,524,04118,081,500 9,450,884

269,059 9,756,07918,616,411 19,911,86920,248,000 23,851,08919,373,000 73,721,6972,571,297 6,531,1575,684,300 115,654,8876,035,000 11,2332,628,935 111,624,580

396,805 3,813,2967,629,000 3,773,579

44,980,900 2,289,142,2635,711,000 5,096,4098,706,000 3,895,650

35,306,000 5,041,0466,706,000 10,412,738

20,982,000 9,014,27716,298,000 36,484,8815,627,000 9,784,652

4,500 80930,090,000 7,173,28210,761,000 10,563,2487,750,000 22,674,541

30,788,000 6,436,9403,006,000 19,045,811

383,913 2,599,0915,717,000 6,158,558

Xtep International Holdings Ltd.

Xunlei Ltd., ADR(a)

Yanzhou Coal Mining Co. Ltd., Class HYiChang HEC ChangJiang Pharmaceutical Co.Ltd., Class H(b)(c)

Yuexiu Property Co. Ltd.

Yuexiu REIT

Yuexiu Transport Infrastructure Ltd.(c)

Yum China Holdings Inc.(c)

Yunnan Baiyao Group Co. Ltd., Class AYuzhou Properties Co. Ltd.YY Inc., ADR(a)

Zhaojin Mining Industry Co. Ltd., Class HZhejiang Expressway Co. Ltd., Class HZhongsheng Group Holdings Ltd.Zhuzhou CRRC Times Electric Co. Ltd., Class HZijin Mining Group Co. Ltd., Class HZTE Corp., Class H(a)(c)(d)

Almacenes Exito SABancolombia SACementos Argos SACorp. Financiera Colombiana SAEcopetrol SAGrupo Argos SA/ColombiaGrupo de Inversiones Suramericana SAInterconexion Electrica SA ESP

CEZ ASKomercni Banka ASMoneta Money Bank AS(b)

Commercial International Bank Egypt SAEEastern TobaccoEgyptian Financial Group-Hermes Holding Co.Ezz Steel(a)

Global Telecom Holding SAE(a)

Heliopolis HousingMedinet Nasr HousingOriental WeaversSix of October Development & Investment(a)

Telecom Egypt Co.


China (continued)

10,520,000$

6,692,223

270,496

3,346,036

15,402,000

22,226,837

1,236,400

6,777,688

61,128,880

13,793,479

15,112,000

10,576,657

9,950,000

7,839,090

2,975,246

116,927,168163,205 2,907,164

15,640,400 11,006,292371,740 43,318,862

10,488,000 8,757,66013,162,000 13,171,8165,024,000 16,108,0044,467,500 22,496,542

48,312,000 20,139,8805,908,640 14,311,833

15,168,890,659Colombia — 0.3%

1,587,019 9,067,0941,544,573 17,713,3553,795,499 12,090,9041,028,970 8,957,154

40,218,237 43,031,2112,269,304 15,259,6292,072,109 26,633,1553,276,783 16,066,194

148,818,696Czech Republic — 0.2%

1,343,005 33,548,863692,459 28,021,088

5,211,050 18,189,067

79,759,018Egypt — 0.2%

8,215,625 38,674,728389,021 3,841,732

8,610,473 11,023,5233,583,907 5,171,080

33,883,136 9,221,0601,509,274 2,596,0025,265,074 3,127,5631,387,289 1,087,6594,079,580 5,674,2524,834,474 3,974,021

84,391,620Greece — 0.3%



5

Universal Medical Financial & TechnicalAdvisory Services Co. Ltd.(b)(c)

Vinda International Holdings Ltd.(c)

Vipshop Holdings Ltd., ADR(a)

Viva China Holdings Ltd.(a)(c)

Want Want China Holdings Ltd.(c)

Wasion Group Holdings Ltd.Weibo Corp., ADR(a)(c)

Weichai Power Co. Ltd., Class HWest China Cement Ltd.Wuliangye Yibin Co. Ltd., Class AWuxi Biologics Cayman Inc.(a)(b)

Xiamen International Port Co. Ltd., Class HXingda International Holdings Ltd.Xinyi Solar Holdings Ltd.

6,935,500 6,312,9172,446,000 4,384,2563,417,856 39,920,558

29,192,000 3,535,42441,843,000 41,500,8055,334,000 3,121,187

378,182 38,540,52816,584,000 22,241,24730,512,000 5,717,973

372,494 4,592,8983,849,500 43,161,276

20,212,000 3,736,21111,723,000 4,199,51627,414,800 11,358,541

Alpha Bank AE(a)

Athens Water Supply & Sewage Co. SAEurobank Ergasias SA(a)

FF Group(a)

Hellenic Exchanges-Athens Stock Exchange SAHellenic Telecommunications Organization SAHolding Co. ADMIE IPTO SA(a)

JUMBO SAMotor Oil Hellas Corinth Refineries SAMytilineos Holdings SA(a)

National Bank of Greece SA(a)(c)

OPAP SA

12,439,655 26,587,596325,101 2,136,531

14,631,453 15,371,362343,633 1,925,389784,444 4,541,779

2,120,955 25,376,8501,240,388 2,406,417

895,411 14,361,227543,696 11,004,938965,414 10,232,502

48,269,259 15,179,2602,118,003 22,745,568




May 31, 2018


Piraeus Bank SA(a)(c)

Piraeus Port Authority SA

Public Power Corp. SA(a)(c)

Titan Cement Co. SA

Magyar Telekom Telecommunications PLC

MOL Hungarian Oil & Gas PLCOTP Bank NyrtRichter Gedeon Nyrt

Adani Enterprises Ltd.Adani Green Energy Ltd.(a)

Adani Ports & Special Economic Zone Ltd.Adani Power Ltd.(a)

AIA Engineering Ltd.Ajanta Pharma Ltd.(a)

Amara Raja Batteries Ltd.Ambuja Cements Ltd.Apollo Hospitals Enterprise Ltd.Apollo Tyres Ltd.Arvind Ltd.Ashok Leyland Ltd.Asian Paints Ltd.Aurobindo Pharma Ltd.Avanti Feeds Ltd.Avenue Supermarts Ltd.(a)(b)

Axis Bank Ltd.Bajaj Auto Ltd.Bajaj Finance Ltd.Bajaj Finserv Ltd.Balkrishna Industries Ltd.Bata India Ltd.Bayer CropScience Ltd./IndiaBEML Ltd.Bharat Forge Ltd.Bharat Heavy Electricals Ltd.Bharat Petroleum Corp. Ltd.Bharti Airtel Ltd.Bharti Infratel Ltd.Blue Dart Express Ltd.Bosch Ltd.Britannia Industries Ltd.Cadila Healthcare Ltd.(a)

Canara BankCare Ratings Ltd.Ceat Ltd.Century Textiles & Industries Ltd.


Greece (continued)

2,310,295$

6,833,708

51,776

985,141

1,280,378

3,004,116 397,137 9,735,136

172,427,520Hungary — 0.2%

3,445,200

5,220,628

2,978,021

28,033,0841,767,123 63,234,3521,114,500 21,771,787

118,259,851India — 9.1%

2,405,824 4,313,7811,985,886 244,3965,584,272 32,450,965

10,752,055 3,210,520414,048 9,462,683330,773 4,717,066437,196 5,172,884

5,642,294 17,173,744718,233 10,114,811

2,512,627 10,027,0511,317,419 7,577,612

10,651,762 23,368,9232,411,377 46,619,5382,401,092 19,793,687

125,292 3,031,646833,112 19,409,136

14,377,930 116,310,332712,815 29,051,311

1,453,273 45,437,865349,518 31,295,153817,611 13,746,696685,843 7,922,270122,447 8,387,889214,077 2,934,884

1,836,549 17,708,9247,651,959 9,485,2206,135,526 36,727,236

11,097,029 61,435,9283,085,779 13,656,398

83,287 4,257,87266,522 18,106,069

216,166 18,976,1281,881,319 10,072,5461,449,585 5,523,814

293,381 5,635,898242,110 4,885,970429,423 6,027,163

Dish TV India Ltd.(a)

Dr. Reddy's Laboratories Ltd.

Edelweiss Financial Services Ltd.

Eicher Motors Ltd.

Escorts Ltd.

Exide Industries Ltd.

Federal Bank Ltd.

Finolex Cables Ltd.Fortis Healthcare Ltd.(a)

GAIL India Ltd.Gateway Distriparks Ltd.GE T&D India Ltd.Glenmark Pharmaceuticals Ltd.GMR Infrastructure Ltd.(a)

Godrej Consumer Products Ltd.Godrej Industries Ltd.Grasim Industries Ltd.GRUH Finance Ltd.Gujarat Narmada Valley Fertilizers & ChemicalsLtd.Gujarat Pipavav Port Ltd.Havells India Ltd.HCL Technologies Ltd.Hero MotoCorp Ltd.Hexaware Technologies Ltd.Hindalco Industries Ltd.Hindustan Petroleum Corp. Ltd.Hindustan Unilever Ltd.Housing Development & Infrastructure Ltd.(a)

Housing Development Finance Corp. Ltd.ICICI Bank Ltd.Idea Cellular Ltd.(a)

IDFC Bank Ltd.IDFC Ltd.IFCI Ltd.(a)

IIFL Holdings Ltd.India Cements Ltd. (The)Indiabulls Housing Finance Ltd.Indiabulls Real Estate Ltd.(a)

Indiabulls Ventures Ltd.Indian Hotels Co. Ltd. (The)Indian Oil Corp. Ltd.Infibeam Incorporation Ltd.Infosys Ltd.InterGlobe Aviation Ltd.(b)

IRB Infrastructure Developers Ltd.ITC Ltd.


India (continued)

6,273,817$

6,786,776

959,813

27,544,532

3,953,265

19,115,332

110,361

50,338,730

580,109

8,015,747

2,593,344

9,980,238

13,350,655

16,776,728

1,093,416

11,100,6453,240,867 7,066,9226,024,100 31,324,5171,292,084 3,549,844

994,889 4,565,8821,335,878 10,609,622

23,690,100 6,371,6572,101,742 35,478,819

955,464 8,448,4922,911,295 44,858,5121,248,004 13,126,859

535,336 3,786,7991,997,292 3,416,9952,367,321 19,089,0634,448,366 60,009,187

448,052 23,536,4661,206,470 7,850,346

10,021,617 34,780,3165,012,128 23,162,0365,394,576 128,819,9094,450,537 1,747,701

12,327,115 334,836,46619,339,915 81,907,86816,439,369 14,981,97615,013,203 9,054,7536,264,111 4,701,6229,967,874 2,614,476

667,219 6,915,1702,089,809 4,024,3132,436,578 44,869,9361,983,827 5,529,6981,122,448 7,772,6814,485,626 9,435,552

10,956,302 28,266,4721,514,116 3,816,562

13,810,342 252,088,753577,233 10,429,242

1,890,579 6,457,65127,272,493 109,785,096



6

CESC Ltd.CG Power and Industrial Solutions Ltd.(a)

Cipla Ltd./IndiaCoal India Ltd.Container Corp. of India Ltd.CRISIL Ltd.Crompton Greaves Consumer Electricals Ltd.Dabur India Ltd.DCB Bank Ltd.Dewan Housing Finance Corp. Ltd.

737,993 11,147,1314,750,983 4,329,7963,064,369 23,831,0805,699,197 25,019,629

573,038 11,710,415246,554 6,266,105

3,674,590 12,347,1024,974,294 28,253,9462,406,229 6,603,6911,416,944 12,874,437

Jain Irrigation Systems Ltd.Jaiprakash Associates Ltd.(a)

Jammu & Kashmir Bank Ltd. (The)(a)

Jindal Steel & Power Ltd.(a)

JSW Steel Ltd.Jubilant Foodworks Ltd.Jubilant Life Sciences Ltd.Just Dial Ltd.(a)

Kajaria Ceramics Ltd.Karur Vysya Bank Ltd. (The)KPIT Technologies Ltd.Larsen & Toubro Infotech Ltd.(b)

Larsen & Toubro Ltd.

3,745,998 5,748,12912,500,748 2,806,4512,867,463 2,509,1502,991,993 10,177,6317,458,171 36,681,613

341,543 12,696,548691,852 8,091,129433,914 3,765,743780,690 6,352,994

4,223,136 6,577,2842,030,453 8,337,547

142,649 3,679,6083,898,605 79,170,871




May 31, 2018


LIC Housing Finance Ltd.

Lupin Ltd.

Mahanagar Gas Ltd.

Mahindra & Mahindra Financial Services Ltd.

Mahindra & Mahindra Ltd.

Manappuram Finance Ltd.

Marico Ltd.

Maruti Suzuki India Ltd.Max Financial Services Ltd.(a)

Mindtree Ltd.Motherson Sumi Systems Ltd.Mphasis Ltd.Natco Pharma Ltd.National Aluminium Co. Ltd.NCC Ltd./IndiaNestle India Ltd.NIIT Technologies Ltd.NTPC Ltd.Oil & Natural Gas Corp. Ltd.Page Industries Ltd.PC Jeweller Ltd.Persistent Systems Ltd.Petronet LNG Ltd.PI Industries Ltd.Pidilite Industries Ltd.Piramal Enterprises Ltd.Power Finance Corp. Ltd.Power Grid Corp. of India Ltd.PTC India Ltd.Rain Industries Ltd.Rajesh Exports Ltd.Rallis India Ltd.Ramco Cements Ltd. (The)Raymond Ltd.RBL Bank Ltd.(b)

Redington India Ltd.Reliance Capital Ltd.Reliance Communications Ltd.(a)

Reliance Industries Ltd.Reliance Infrastructure Ltd.Rural Electrification Corp. Ltd.Shree Cement Ltd.Shriram Transport Finance Co. Ltd.Siemens Ltd.Sobha Ltd.Solara Active Pharma Sciences Ltd.(a)

SRF Ltd.


India (continued)

2,665,176$

18,765,730

1,870,178

21,349,115

231,691

2,811,741

2,623,932

18,961,367

6,218,528

85,050,056

4,291,571

6,849,216

4,164,415

19,861,697

877,143

110,967,2171,196,079 8,686,672

873,158 13,041,8945,624,497 25,850,224

598,819 9,770,824550,519 6,589,994

3,859,785 4,029,5175,175,960 9,200,258

209,600 29,985,232403,015 6,671,479

14,494,275 35,987,34210,966,575 28,910,513

54,640 20,421,8341,390,843 3,417,208

528,558 6,172,4174,509,232 14,677,180

661,900 8,307,283507,295 8,702,177704,875 24,770,508

7,029,894 8,391,18211,500,000 35,693,3284,548,504 5,732,601

943,020 3,275,573846,751 7,576,936

1,464,314 4,633,857877,368 10,057,245447,905 6,513,896985,824 7,536,570

3,611,438 6,373,834942,532 5,832,643

8,815,912 2,436,43522,683,367 309,699,8511,351,905 8,709,5286,304,063 11,037,307

80,630 20,169,4181,297,050 27,952,429

727,227 11,265,782699,707 5,288,04677,587 148,106

219,390 6,281,708

Tata Steel Ltd.

Tech Mahindra Ltd.

Thermax Ltd.

TI Financial Holdings Ltd.

Titan Co. Ltd.

Torrent Power Ltd.

TTK Prestige Ltd.

Tube Investments of India Ltd.TV18 Broadcast Ltd.(a)

UltraTech Cement Ltd.Union Bank of India(a)

United Spirits Ltd.(a)

UPL Ltd.VA Tech Wabag Ltd.Vakrangee Ltd.Vedanta Ltd.Vijaya BankVoltas Ltd.Welspun India Ltd.Wipro Ltd.Wockhardt Ltd.(a)

Yes Bank Ltd.Zee Entertainment Enterprises Ltd.

Ace Hardware Indonesia Tbk PTAdaro Energy Tbk PTAdhi Karya Persero Tbk PTAKR Corporindo Tbk PTAlam Sutera Realty Tbk PTAneka Tambang Persero Tbk PTAstra International Tbk PTBank Bukopin Tbk PTBank Central Asia Tbk PTBank Danamon Indonesia Tbk PTBank Mandiri Persero Tbk PTBank Negara Indonesia Persero Tbk PTBank Pembangunan Daerah Jawa Barat DanBanten Tbk PTBank Rakyat Indonesia Persero Tbk PTBank Tabungan Negara Persero Tbk PTBukit Asam Tbk PTBumi Resources Tbk PT(a)

Bumi Serpong Damai Tbk PTCharoen Pokphand Indonesia Tbk PTCiputra Development Tbk PTDelta Dunia Makmur Tbk PT(a)


India (continued)

2,812,482$

23,991,483

3,871,146

40,864,089

412,041

6,779,985

872,365

8,678,728

2,639,459

35,205,824

1,426,832

5,546,001

54,252

4,759,536

756,067

2,430,6867,159,370 5,935,861

754,742 41,883,9452,729,768 3,668,951

488,775 24,217,6583,058,200 32,067,311

477,333 3,154,3983,466,833 1,674,786

11,127,860 40,944,6544,287,728 3,755,1181,183,349 9,468,3702,847,786 2,645,9639,304,064 36,109,130

484,356 4,905,82513,039,334 66,894,6384,616,415 38,038,863

4,488,589,363Indonesia — 2.0%

89,986,100 8,095,187120,122,600 16,295,86923,706,700 3,318,42616,922,300 5,991,919

118,452,300 3,017,78478,576,643 4,891,601

159,673,700 79,291,00664,518,500 1,764,45082,926,500 135,475,46228,863,000 12,099,818

148,160,600 75,173,24461,208,200 37,332,817

23,785,700 3,509,225433,869,600 96,172,60741,200,376 9,043,62331,633,700 8,651,174

264,960,600 5,034,15670,677,500 8,672,55464,327,000 17,036,586

118,110,627 8,585,22738,484,700 2,423,470



7

State Bank of India(a)

Sterlite Technologies Ltd.Strides Shasun Ltd.Sun Pharma Advanced Research Co. Ltd.(a)

Sun Pharmaceutical Industries Ltd.Sundaram Finance Ltd.Suzlon Energy Ltd.(a)

Tata Communications Ltd.Tata Consultancy Services Ltd.Tata Elxsi Ltd.Tata Global Beverages Ltd.Tata Motors Ltd.(a)

Tata Power Co. Ltd. (The)

13,936,956 55,669,3441,087,774 5,323,415

559,869 3,333,5361,092,433 6,598,3887,124,503 50,713,222

403,514 11,115,95637,675,745 4,885,159

765,740 7,005,2177,374,002 190,249,415

279,131 5,117,0743,370,089 13,443,900

12,660,804 53,001,55010,041,376 12,097,416

Eagle High Plantations Tbk PT(a)

Gudang Garam Tbk PTHanjaya Mandala Sampoerna Tbk PTHanson International Tbk PT(a)

Indah Kiat Pulp & Paper Corp. Tbk PTIndika Energy Tbk PTIndocement Tunggal Prakarsa Tbk PTIndofood CBP Sukses Makmur Tbk PTIndofood Sukses Makmur Tbk PTInti Agri Resources Tbk PT(a)

Jasa Marga Persero Tbk PTKalbe Farma Tbk PTKawasan Industri Jababeka Tbk PT

147,606,800 1,986,5043,924,600 19,347,614

72,706,900 19,831,533613,225,400 6,134,46115,533,800 20,905,51015,325,800 4,125,11614,164,400 17,966,71820,676,400 12,946,00135,285,000 17,966,274

228,969,600 3,954,85522,129,080 7,087,039

179,101,800 17,658,832152,752,888 2,396,555




May 31, 2018


Krakatau Steel Persero Tbk PT(a)

Link Net Tbk PT

Matahari Department Store Tbk PT

Medco Energi Internasional Tbk PT(a)

Media Nusantara Citra Tbk PT

Mitra Adiperkasa Tbk PT

Modernland Realty Tbk PT

Pakuwon Jati Tbk PTPanin Financial Tbk PT(a)

Perusahaan Gas Negara Persero Tbk PTPerusahaan Perkebunan London SumatraIndonesia Tbk PTPP Persero Tbk PTRamayana Lestari Sentosa Tbk PTSalim Ivomas Pratama Tbk PTSemen Indonesia Persero Tbk PTSiloam International Hospitals Tbk PT(a)

Sugih Energy Tbk PT(a)

Summarecon Agung Tbk PTSurya Citra Media Tbk PTTelekomunikasi Indonesia Persero Tbk PTTimah Tbk PTTower Bersama Infrastructure Tbk PTUnilever Indonesia Tbk PTUnited Tractors Tbk PTWaskita Karya Persero Tbk PTWijaya Karya Persero Tbk PT

AEON Credit Service M BhdAirAsia Group BhdAlliance Bank Malaysia BhdAMMB Holdings BhdAstro Malaysia Holdings BhdAxiata Group Bhd(c)

Berjaya Corp. Bhd(a)(c)

Berjaya Sports Toto BhdBursa Malaysia BhdCahya Mata Sarawak Bhd(c)

Carlsberg Brewery Malaysia BhdCIMB Group Holdings BhdDialog Group BhdDiGi.Com Bhd(c)

DRB-Hicom Bhd(c)

Eastern & Oriental Bhd(c)

Felda Global Ventures Holdings Bhd(c)

Gamuda Bhd


Indonesia (continued)

46,982,314$

1,460,695

12,330,500

4,126,436

19,959,500

13,143,535

60,236,200

4,855,311

52,292,700

4,516,102

10,291,400

6,240,018

123,975,300

2,748,067

202,291,000

8,152,786207,628,300 3,317,27188,406,200 13,170,265

36,870,300 3,051,51832,515,350 6,037,39539,224,900 3,853,32845,943,300 1,802,02224,427,300 14,767,1343,138,471 1,575,447

82,105,800 295,45187,552,700 6,206,50755,093,500 9,753,869

394,693,400 99,987,10139,409,952 2,666,09221,188,300 7,738,80012,200,100 40,037,75213,756,300 34,700,13150,683,800 8,462,49831,426,123 3,777,015

1,000,625,763Malaysia — 2.4%

2,357,500 8,766,58313,037,500 10,056,56410,097,700 10,757,34913,772,300 12,284,33815,813,000 5,562,36222,129,800 24,242,69539,977,506 2,912,9346,534,873 4,071,9816,957,700 13,216,1346,798,600 3,963,0031,699,900 8,482,416

36,299,500 53,810,81735,046,196 28,618,12526,201,200 29,097,8156,312,700 2,775,6859,940,029 3,646,342

14,807,700 5,841,22814,675,300 12,315,453

Kossan Rubber Industries

KPJ Healthcare Bhd(c)

Kuala Lumpur Kepong Bhd

Lafarge Malaysia Bhd(a)(c)

Magnum Bhd

Mah Sing Group Bhd(c)

Malayan Banking Bhd

Malaysia Airports Holdings BhdMalaysia Building Society Bhd(c)

Malaysian Resources Corp. Bhd(c)

Maxis Bhd(c)

MISC BhdMy EG Services BhdNestle Malaysia BhdOSK Holdings BhdPavilion REITPetronas Chemicals Group BhdPetronas Dagangan BhdPetronas Gas BhdPos Malaysia Bhd(c)

PPB Group BhdPress Metal Aluminium Holdings BhdPublic Bank BhdQL Resources BhdRHB Bank BhdRHB Bank Bhd, New(a)(d)

Sime Darby BhdSime Darby Plantation BhdSime Darby Property BhdSP Setia Bhd GroupSunway Bhd(c)

Sunway Construction Group Bhd(c)

Sunway REIT(c)

Supermax Corp. BhdTa Ann Holdings BhdTelekom Malaysia Bhd(c)

Tenaga Nasional BhdTIME dotCom Bhd(c)

Top Glove Corp. BhdUEM Sunrise Bhd(a)(c)

UOA Development BhdVS Industry BhdWCT Holdings Bhd(a)(c)

Westports Holdings BhdYTL Corp. Bhd


Malaysia (continued)

3,005,800$

5,777,480

25,124,600

6,249,586

3,800,800

23,778,874

4,409,900

3,324,045

8,412,500

4,628,989

14,411,223

3,983,001

29,031,000

70,462,176

6,954,300

14,555,10514,829,200 4,359,33822,712,400 3,366,91415,549,100 22,620,42410,008,300 14,760,98521,330,000 4,769,774

345,600 12,851,45711,340,000 2,621,30712,928,900 5,100,09418,961,500 38,351,7782,192,200 13,792,1335,471,000 24,165,8743,738,100 3,353,0193,910,200 19,570,649

11,423,000 13,575,57522,871,060 137,111,4309,089,295 12,080,9987,427,566 9,965,6291,769,000 4

18,813,200 11,533,72118,683,100 26,006,12418,683,100 5,398,3833,882,700 3,004,703

18,361,554 6,735,6456,837,270 2,989,158

17,647,400 7,582,1746,174,700 4,762,8974,520,360 3,180,1538,942,200 8,245,697

27,024,000 97,775,2763,809,300 7,178,3296,320,000 16,292,261

14,605,000 2,642,1118,832,800 5,725,7857,424,175 3,413,628

10,863,979 2,142,77010,961,700 9,501,97632,786,466 7,825,915

1,179,253,665



8

Genting BhdGenting Malaysia Bhd(c)

Genting Plantations BhdHAP Seng Consolidated BhdHartalega Holdings BhdHengyuan Refining Co. BhdHong Leong Bank BhdHong Leong Financial Group BhdIHH Healthcare Bhd(c)

IJM Corp. BhdInari Amertron BhdIOI Corp. BhdIOI Properties Group Bhd

17,473,300 38,590,52924,223,700 30,310,0572,584,000 6,167,8395,878,100 14,473,714

11,967,800 18,342,608928,000 1,524,905

6,146,700 29,621,5342,409,700 11,443,048

19,320,500 29,126,38222,288,100 9,464,04223,201,100 13,349,37718,884,900 21,969,11718,477,641 7,335,345

Alfa SAB de CV, Class AAlsea SAB de CVAmerica Movil SAB de CV, Series L, NVSArca Continental SAB de CVAxtel SAB de CV, CPO(a)(c)

Banco del Bajio SA(b)

Banco Santander Mexico SA Institucion deBanca Multiple Grupo Financiero Santand,Class BBolsa Mexicana de Valores SAB de CVCemex SAB de CV, CPO(a)

Coca-Cola Femsa SAB de CV, Series L, NVSConcentradora Fibra Hotelera Mexicana SA deCV(b)

Mexico — 2.6%24,352,747 24,921,7614,449,595 14,543,384

265,891,472 205,938,2093,711,338 22,194,886

13,995,500 2,888,2804,307,853 8,136,797

14,121,911 18,417,6754,119,778 6,692,550

119,847,883 71,025,7593,991,900 23,312,214

6,007,900 3,413,375




May 31, 2018


Consorcio ARA SAB de CVControladora Vuela Cia. de Aviacion SAB deCV, Class A(a)(c)

Corp Inmobiliaria Vesta SAB de CVEl Puerto de Liverpool SAB de CV, Series C1,NVS(c)

Fibra Uno Administracion SA de CV

Fomento Economico Mexicano SAB de CVGenomma Lab Internacional SAB de CV, ClassB(a)(c)

Gruma SAB de CV, Series B(c)

Grupo Aeromexico SAB de CV(a)

Grupo Aeroportuario del Centro Norte SAB deCVGrupo Aeroportuario del Pacifico SAB de CV,Series BGrupo Aeroportuario del Sureste SAB de CV,Class BGrupo Bimbo SAB de CV, Series A(c)

Grupo Carso SAB de CV, Series A1Grupo Comercial Chedraui SA de CVGrupo Financiero Banorte SAB de CV, Class OGrupo Financiero Inbursa SAB de CV, Class OGrupo Herdez SAB de CVGrupo Lala SAB de CV(c)

Grupo Mexico SAB de CV, Class BGrupo Televisa SAB, CPOIndustrias Bachoco SAB de CV, Series BIndustrias CH SAB de CV, Series B(a)

Industrias Penoles SAB de CVInfraestructura Energetica Nova SAB de CVKimberly-Clark de Mexico SAB de CV, Class ALa Comer SAB de CV(a)(c)

Macquarie Mexico Real Estate Management SAde CVMexichem SAB de CVPLA Administradora Industrial S. de RL de CVPromotora y Operadora de Infraestructura SABde CVQualitas Controladora SAB de CV(c)

Regional SAB de CVTelesites SAB de CV(a)

Wal-Mart de Mexico SAB de CV

DG Khan Cement Co. Ltd.Engro Corp. Ltd./PakistanEngro Fertilizers Ltd.Fauji Cement Co. Ltd.Fauji Fertilizer Co. Ltd.


Mexico (continued)

11,318,900$

3,642,427

5,889,359

3,031,141

5,096,200

6,384,129

1,475,405

8,338,983

26,042,300

35,825,014

15,448,045

128,332,308

7,174,400

6,058,612

1,792,705

18,735,5964,236,100 5,154,256

2,646,400 12,612,862

2,926,200 24,848,515

1,751,990 27,722,07013,428,002 25,537,6544,511,236 14,014,4883,449,700 6,795,146

19,237,478 102,087,71418,979,242 26,715,6992,874,600 5,663,7621,487,446 1,615,109

29,326,420 72,567,22419,669,556 65,459,0371,676,984 7,633,9291,523,500 6,607,1321,128,090 18,989,7744,371,971 18,206,715

12,813,175 21,250,2894,293,502 4,174,989

7,625,400 7,815,0028,468,383 23,777,1806,144,649 8,723,066

1,942,645 17,405,0213,033,888 7,739,2012,020,047 11,217,436

13,272,695 9,351,45240,425,996 101,123,571

1,266,641,393Pakistan — 0.2%

2,760,400 3,020,1172,833,300 7,547,9495,597,347 3,599,5227,798,000 1,694,0595,249,320 4,464,772

United Bank Ltd./Pakistan

Cia. de Minas Buenaventura SAA, ADR, NVS

Credicorp Ltd.Southern Copper Corp.

Aboitiz Equity Ventures Inc.Aboitiz Power Corp.Alliance Global Group Inc.(a)

Ayala Corp.Ayala Land Inc.Bank of the Philippine IslandsBDO Unibank Inc.Bloomberry Resorts Corp.Cebu Air Inc.Cosco Capital Inc.D&L Industries Inc.DMCI Holdings Inc.DoubleDragon Properties Corp.(a)

Filinvest Land Inc.First Gen Corp.First Philippine Holdings Corp.Globe Telecom Inc.GT Capital Holdings Inc.International Container Terminal Services Inc.JG Summit Holdings Inc.Jollibee Foods Corp.Manila Electric Co.Manila Water Co. Inc.Megaworld Corp.Melco Resorts And Entertainment (Philippines)Corp.(a)

Metro Pacific Investments Corp.Metropolitan Bank & Trust Co.Nickel Asia Corp.PLDT Inc.Robinsons Land Corp.Security Bank Corp.SM Investments Corp.SM Prime Holdings Inc.Universal Robina Corp.Vista Land & Lifescapes Inc.

Alior Bank SA(a)

Asseco Poland SABank Handlowy w Warszawie SABank Millennium SA(a)

Bank Polska Kasa Opieki SA


Pakistan (continued)

4,022,500$

5,885,584

82,179,427Peru — 0.4%

1,656,740

25,629,768

543,837

120,416,389 730,196 35,699,282

181,745,439Philippines — 1.0%

16,495,840 18,148,86211,148,000 8,339,43528,650,500 7,253,2222,127,075 38,059,036

58,058,800 43,984,3588,184,543 14,800,118

16,568,856 41,157,61216,049,600 3,299,4012,590,700 4,290,259

25,774,400 3,012,34126,722,800 5,615,62634,202,600 7,031,2094,550,300 2,529,123

107,640,000 3,298,72911,736,900 3,346,6661,869,170 2,314,426

306,090 9,415,375762,975 14,087,346

4,551,130 7,320,20224,183,263 26,284,4043,658,860 19,082,861

913,550 5,613,23211,690,900 6,308,82096,516,600 8,928,642

18,965,500 2,061,330122,722,600 10,862,371

7,622,282 11,520,00417,525,724 1,641,301

726,665 17,912,29119,324,313 8,110,7271,927,340 7,153,8541,992,522 32,920,770

72,410,996 50,998,0277,629,640 18,589,219

44,341,300 5,865,977

471,157,176Poland — 1.1%

773,288 14,474,003609,072 7,556,296282,437 6,084,257

5,196,767 11,265,1051,150,413 34,763,477



9

Habib Bank Ltd.Hub Power Co. Ltd. (The)Lucky Cement Ltd.MCB Bank Ltd.National Bank of PakistanNishat Mills Ltd.Oil & Gas Development Co. Ltd.Pakistan Oilfields Ltd.Pakistan State Oil Co. Ltd.Searle Co. Ltd. (The)SUI Northern Gas Pipeline

4,764,500 7,056,5806,511,995 5,566,9011,283,050 6,063,9753,138,800 5,544,9374,608,500 1,975,2143,366,500 4,220,6136,176,300 8,680,0031,016,800 5,970,6921,962,282 5,425,8371,077,811 3,028,8932,897,100 2,433,779

Bank Zachodni WBK SABudimex SACCC SACD Projekt SACiech SA(a)

Cyfrowy Polsat SADino Polska SA(a)(b)

Enea SA

277,901 26,064,368113,874 4,801,498250,490 18,469,808567,497 22,578,704257,223 4,303,562

1,898,158 12,774,953335,549 10,103,428

1,920,118 5,324,795




May 31, 2018


Eurocash SA(c)

Getin Noble Bank SA(a)(c)

Grupa Azoty SA

Grupa Lotos SA

Jastrzebska Spolka Weglowa SA(a)

KGHM Polska Miedz SA

KRUK SA

LPP SALubelski Wegiel Bogdanka SAmBank SANetia SAOrange Polska SA(a)

PGE Polska Grupa Energetyczna SA(a)

PLAY Communications SA(b)

Polski Koncern Naftowy ORLEN SAPolskie Gornictwo Naftowe i Gazownictwo SAPowszechna Kasa Oszczednosci Bank PolskiSA(a)

Powszechny Zaklad Ubezpieczen SATauron Polska Energia SA(a)

Warsaw Stock Exchange

Al Meera Consumer Goods Co. QSCBarwa Real Estate Co.Commercial Bank PQSC (The)Doha Bank QPSCEzdan Holding Group QSC(a)

Gulf International Services QSC(a)

Industries Qatar QSCMasraf Al Rayan QSCOoredoo QPSCQatar Electricity & Water Co. QSCQatar Gas Transport Co. Ltd.Qatar Industrial Manufacturing Co. QSCQatar Insurance Co. SAQQatar Islamic Bank SAQQatar National Bank QPSCQatar National Cement Co. QSCUnited Development Co. QSCVodafone Qatar QSC(a)

Aeroflot PJSCAlrosa PJSCGazprom PJSCGazprom PJSC, ADR, NVS


Poland (continued)

764,004$

4,896,151

5,383,786

1,600,693

376,863

4,339,310

815,014

12,023,370

450,725

10,162,708

1,066,904

24,430,869

149,215

9,381,015

10,887

27,719,586155,008 2,262,432122,012 13,897,117

2,194,640 2,776,1115,155,654 6,981,5066,684,139 17,777,398

667,257 4,490,7632,371,446 52,239,435

14,452,586 22,344,426

7,106,731 72,109,3814,746,771 46,585,6499,292,050 5,625,837

478,247 4,692,308

524,900,319Qatar — 0.7%

99,353 4,035,323940,566 8,830,119

1,897,390 19,610,259425,969 3,038,054

6,919,803 16,065,689399,984 1,848,523

1,347,816 37,827,4113,320,045 30,423,520

706,145 12,972,575344,323 17,911,395

1,750,518 7,045,206272,722 3,090,476

1,467,666 13,236,117788,279 24,773,866

3,181,013 138,144,362208,755 3,199,481

1,751,669 6,953,922643,292 1,444,215

350,450,513Russia — 3.0%

4,908,257 11,087,92420,956,500 29,689,28665,712,920 152,875,9129,413,460 42,755,935

PhosAgro PJSC, GDR, NVS(e)

Polyus PJSC

Rosneft Oil Co. PJSC

Rosneft Oil Co. PJSC, GDR, NVS(e)

RusHydro PJSC

Sberbank of Russia PJSC

Sberbank of Russia PJSC, ADR

Severstal PJSCSurgutneftegas OJSCSurgutneftegas OJSC, ADR, NVSTatneft PJSCVTB Bank PJSCVTB Bank PJSC, GDR, NVS(e)

X5 Retail Group NV, GDR(e)

Adcock Ingram Holdings Ltd.Advtech Ltd.AECI Ltd.African Rainbow Minerals Ltd.Anglo American Platinum Ltd.AngloGold Ashanti Ltd.Aspen Pharmacare Holdings Ltd.(c)

Astral Foods Ltd.Attacq Ltd.(a)

AVI Ltd.Barclays Africa Group Ltd.Barloworld Ltd.Bid Corp. Ltd.Bidvest Group Ltd. (The)Blue Label Telecoms Ltd.Brait SE(a)(c)

Capitec Bank Holdings Ltd.Cashbuild Ltd.City Lodge Hotels Ltd.Clicks Group Ltd.Coronation Fund Managers Ltd.Discovery Ltd.Emira Property Fund Ltd.Exxaro Resources Ltd.Famous Brands Ltd.(a)(c)

FirstRand Ltd.Fortress REIT Ltd., Series AFoschini Group Ltd. (The)Gold Fields Ltd.Grindrod Ltd.(a)

Growthpoint Properties Ltd.


Russia (continued)

1,122,937$

14,935,062

174,832

10,518,952

1,206,660

7,459,405

8,053,668

49,127,375

909,609,000

10,564,614

12,641,030

45,098,222

17,601,789

253,113,726

1,768,720

28,457,30151,272,550 23,551,9331,299,033 5,780,697

12,502,353 133,694,0885,421,870,000 4,339,932

13,930,608 22,107,875410,457 11,906,562

1,478,838,560South Africa — 6.2%

1,046,672 5,404,0185,208,704 6,498,0281,208,169 10,301,6321,002,625 8,697,069

424,572 11,263,4783,169,840 27,025,6083,069,688 60,593,920

452,097 9,645,9264,950,415 7,172,5322,974,236 24,024,0305,532,146 70,622,7691,769,590 18,583,1402,733,489 54,803,5952,631,309 41,967,9765,093,150 4,745,2962,298,454 6,625,863

330,050 22,787,913234,757 7,228,996523,276 6,448,297

2,121,931 33,841,9931,872,200 9,240,5232,797,355 34,047,5545,849,517 7,112,7172,043,407 20,224,324

762,076 6,624,91726,104,106 123,667,3008,985,654 11,862,6241,765,524 25,683,3916,569,018 23,433,7334,437,600 4,765,208

24,048,865 51,648,569



10

Inter RAO UES PJSCLSR Group PJSC, GDR, NVS(e)

LUKOIL PJSCLUKOIL PJSC, ADR, NVSM.Video PJSC(a)

Magnit PJSC, GDR, NVS(e)

Magnitogorsk Iron & Steel Works PJSCMechel PJSC, ADR, NVS(a)

MMC Norilsk Nickel PJSCMobile TeleSystems PJSC, ADR, NVSMoscow Exchange MICEX-RTS PJSCNovatek PJSC, GDR, NVS(e)

Novolipetsk Steel PJSC

280,582,648 18,367,1282,412,150 6,681,6552,608,405 176,146,591

812,299 54,212,835410,064 2,682,991

2,846,886 57,250,87717,500,127 13,783,342

889,823 3,078,788519,673 92,641,077

4,154,154 39,796,79512,860,405 23,231,366

747,326 107,689,67710,013,138 26,210,637

Harmony Gold Mining Co. Ltd.Hosken Consolidated Investments Ltd.Hudaco Industries Ltd.Hyprop Investments Ltd.Impala Platinum Holdings Ltd.(a)(c)

Imperial Holdings Ltd.Investec Ltd.JSE Ltd.KAP Industrial Holdings Ltd.Kumba Iron Ore Ltd.Liberty Holdings Ltd.Life Healthcare Group Holdings Ltd.Massmart Holdings Ltd.

3,361,739 5,613,958672,381 7,534,490554,667 6,925,783

2,154,842 17,609,6445,612,163 8,977,6881,187,926 19,145,6342,082,466 15,148,645

841,475 12,059,70210,740,298 6,996,246

505,687 11,585,8821,099,697 10,547,193

10,240,432 23,044,004961,644 8,960,411




May 31, 2018


Metair Investments Ltd.

MMI Holdings Ltd./South Africa

Mondi Ltd.

Mpact Ltd.

Mr. Price Group Ltd.

MTN Group Ltd.

Murray & Roberts Holdings Ltd.

Nampak Ltd.(a)

Naspers Ltd., Class NNedbank Group Ltd.NEPI Rockcastle PLCNetcare Ltd.Northam Platinum Ltd.(a)

Omnia Holdings Ltd.Pick n Pay Stores Ltd.Pioneer Foods Group Ltd.PPC Ltd.(a)

PSG Group Ltd.Rand Merchant Investment Holdings Ltd.Redefine Properties Ltd.Reinet Investments SCA(a)

Remgro Ltd.Resilient REIT Ltd.(c)

Reunert Ltd.RMB Holdings Ltd.Royal Bafokeng Platinum Ltd.(a)

SA Corporate Real Estate Ltd.Sanlam Ltd.Sappi Ltd.Sasol Ltd.Shoprite Holdings Ltd.Sibanye Gold Ltd.(a)

SPAR Group Ltd. (The)Standard Bank Group Ltd.Super Group Ltd./South Africa(a)

Telkom SA SOC Ltd.Tiger Brands Ltd.Tongaat Hulett Ltd.Trencor Ltd.Truworths International Ltd.Tsogo Sun Holdings Ltd.Vodacom Group Ltd.Vukile Property Fund Ltd.Wilson Bayly Holmes-Ovcon Ltd.Woolworths Holdings Ltd./South AfricaZeder Investments Ltd.


South Africa (continued)

2,652,944$

4,191,505

7,382,183

10,899,868

940,085

26,032,895

2,178,929

4,290,761

1,919,006

38,031,623

13,166,680

119,035,520

4,230,256

6,072,330

5,301,197

6,366,4593,467,776 828,542,4541,711,248 36,967,8213,027,002 29,636,6568,447,569 19,749,9033,167,549 8,761,093

635,748 6,776,6273,041,151 18,057,2091,140,480 9,680,347

13,430,636 8,600,2731,089,080 18,727,1895,905,108 17,904,157

41,966,767 36,350,212744,994 14,023,416

4,089,726 65,874,7812,343,495 10,576,7211,664,008 10,471,4915,566,841 31,924,174

632,773 1,066,69621,819,288 7,976,57412,674,809 76,108,9004,511,673 29,649,1554,377,723 158,137,2503,490,042 64,501,708

14,774,088 9,203,9131,560,675 23,752,081

10,020,725 164,097,7793,408,241 9,800,8792,256,690 9,237,0161,278,650 33,912,2411,044,093 6,677,5791,736,147 5,169,3733,541,574 23,511,6893,852,131 6,995,5794,639,103 52,563,0706,098,960 10,531,722

574,816 7,034,8587,945,538 36,600,291

13,915,270 6,603,298

3,041,419,355

BNK Financial Group Inc.

Boditech Med Inc.(c)

Bukwang Pharmaceutical Co. Ltd.

Caregen Co. Ltd.

Cell Biotech Co. Ltd.(c)

Celltrion Healthcare Co. Ltd.(a)(c)

Celltrion Inc.(a)(c)

Cheil Worldwide Inc.Chong Kun Dang Pharmaceutical Corp.CJ CGV Co. Ltd.CJ CheilJedang Corp.CJ Corp.CJ E&M Corp.CJ Freshway Corp.(c)

CJ Logistics Corp.(a)(c)

CJ O Shopping Co. Ltd.Com2uSCorp.Cosmax Inc.(c)

Coway Co. Ltd.CrystalGenomics Inc.(a)(c)

Daeduck Electronics Co.Daeduck GDS Co. Ltd.(c)

Daekyo Co. Ltd.Daelim Industrial Co. Ltd.Daesang Corp.Daewoo Engineering & Construction Co. Ltd.(a)

Daewoong Pharmaceutical Co. Ltd.(c)

Daishin Securities Co. Ltd.Daou Technology Inc.(c)

DB HiTek Co. Ltd.DB Insurance Co. Ltd.Dentium Co. Ltd.(c)

DGB Financial Group Inc.DIO Corp.(a)(c)

Dong-A Socio Holdings Co. Ltd.Dong-A ST Co. Ltd.Dongjin Semichem Co. Ltd.DongKook Pharmaceutical Co. Ltd.Dongkuk Steel Mill Co. Ltd.Dongsuh Cos. Inc.Dongwon Industries Co. Ltd.Doosan Bobcat Inc.Doosan Heavy Industries & Construction Co.Ltd.(a)(c)

Doosan Infracore Co. Ltd.(a)(c)

DoubleUGames Co. Ltd.Douzone Bizon Co. Ltd.


South Korea (continued)

1,853,385$

16,385,509

234,679

3,330,942

303,869

8,160,868

43,026

3,444,635

88,516

3,440,624

276,446

25,594,240

646,872

159,325,123

579,430

10,643,08560,879 5,930,048

135,825 8,316,20261,852 20,111,439

114,936 15,780,442169,331 14,232,00487,957 2,823,24170,618 9,793,95228,860 5,962,35679,473 14,118,53973,441 11,582,142

422,747 34,237,036222,629 4,863,781509,709 3,768,617267,678 3,737,236345,618 2,423,927219,320 17,090,663193,082 4,540,682

1,340,217 8,019,29648,814 9,464,378

345,028 4,353,060246,240 5,927,852372,293 5,871,312391,230 21,231,92669,236 5,632,912

1,203,930 11,559,604121,971 4,282,76140,431 4,219,57256,433 5,078,159

304,946 4,483,87674,042 4,368,543

583,018 5,462,667319,316 7,687,04516,723 5,181,578

229,791 7,226,601

533,307 9,449,5701,176,282 11,348,702

100,995 5,218,629191,916 7,798,062



11

Advanced Process Systems Corp.(a)(c)

Ahnlab Inc.(c)

AK Holdings Inc.Amorepacific Corp.(c)

AMOREPACIFIC GroupAnanti Inc.(a)(c)

Aprogen pharmaceuticals Inc.(a)(c)

Asiana Airlines Inc.(a)

ATGen Co. Ltd.(a)(c)

BGF retail Co. Ltd.BH Co. Ltd.(a)(c)

Binggrae Co. Ltd.

South Korea — 14.8%

199,228 4,241,64653,725 2,950,52653,233 3,975,376

253,880 78,310,775239,400 27,983,116456,045 4,569,123

1,200,227 4,386,933920,607 4,231,743287,560 4,748,42864,407 10,904,288

223,962 5,744,74670,745 4,009,944

E1 Corp.(c)

Ecopro Co. Ltd.(a)(c)

E-MART Inc.Eo Technics Co Ltd.(c)

Fila Korea Ltd.(c)

Foosung Co. Ltd.(a)(c)

GemVax & Kael Co. Ltd.(a)(c)

Genexine Co. Ltd.(a)(c)

Grand Korea Leisure Co. Ltd.Green Cross Cell Corp.Green Cross Corp./South KoreaGreen Cross Holdings Corp.GS Engineering & Construction Corp.(c)

35,564 2,240,174191,179 6,677,387170,647 39,576,74379,220 5,555,946

507,665 13,728,313544,660 4,693,995303,834 3,988,359120,464 12,739,827274,445 6,976,013104,203 4,939,72249,049 10,010,464

239,059 8,416,243386,525 17,588,062




May 31, 2018


GS Holdings Corp.

GS Home Shopping Inc.

GS Retail Co. Ltd.(c)

G-treeBNT Co. Ltd.(a)(c)

Gwangju Shinsegae Co. Ltd.

Halla Holdings Corp.

Hana Financial Group Inc.

Hana Tour Service Inc.(c)

Hanall Biopharma Co. Ltd.(a)(c)

Hancom Inc.(c)

Handsome Co. Ltd.Hanil Cement Co. Ltd.(c)

Hanjin Heavy Industries & Construction Co. Ltd.(a)(c)

Hanjin Kal Corp.Hanjin Transportation Co. Ltd.Hankook Shell Oil Co. Ltd.(c)

Hankook Tire Co. Ltd.Hankook Tire Worldwide Co. Ltd.(c)

Hanmi Pharm Co. Ltd.Hanmi Science Co. Ltd.(c)

Hanon SystemsHansae Co. Ltd.Hansol Chemical Co. Ltd.Hansol Technics Co. Ltd.(a)

Hanssem Co. Ltd.(c)

Hanwha Aerospace Co. Ltd.(a)

Hanwha Chemical Corp.Hanwha Corp.Hanwha General Insurance Co. Ltd.Hanwha Investment & Securities Co. Ltd.(a)(c)

Hanwha Life Insurance Co. Ltd.Hite Jinro Co. Ltd.HLB Inc.(a)(c)

HMC Investment Securities Co. Ltd.Homecast Co. Ltd.(a)(c)

Hotel Shilla Co. Ltd.HS Industries Co. Ltd.(c)

Huchems Fine Chemical Corp.Hugel Inc.(a)(c)

Humedix Co. Ltd.(c)

Huons Co. Ltd.(c)

Huons Global Co. Ltd.(c)

Hy-Lok Corp.(c)

Hyosung Corp.Hyundai Construction Equipment Co. Ltd.(a)



408,134$

22,073,577

31,508

4,945,641

235,178

8,235,975

187,398

7,179,867

12,162

2,617,546

81,014

3,370,730

2,288,294

88,309,319

95,556

9,130,542271,428 8,082,786242,535 2,981,204157,663 5,740,77931,161 4,928,754

781,084 2,394,807397,315 8,551,146107,816 2,450,47711,976 3,705,177

596,753 23,721,755278,987 4,645,68551,634 23,135,787

114,315 7,529,4451,547,193 14,496,636

152,796 2,182,90180,393 5,742,623

262,320 2,676,85995,329 9,993,207

347,841 10,697,091844,636 20,254,966347,501 11,605,395813,059 5,355,275

1,315,108 3,629,5251,997,680 10,322,443

243,935 4,559,850261,754 33,509,951372,968 3,615,674295,243 2,284,268256,210 29,472,647402,045 3,468,638203,859 5,720,79921,193 9,486,175

134,691 4,148,37591,553 8,212,97487,568 5,150,342

156,510 4,363,028169,046 21,014,11451,328 7,951,924

Hyundai Mobis Co. Ltd.

Hyundai Motor Co.

Hyundai Rotem Co. Ltd.(a)(c)

Hyundai Steel Co.

Il Dong Pharmaceutical Co. Ltd.

Iljin Materials Co. Ltd.(c)

Ilyang Pharmaceutical Co. Ltd.(a)

iMarketKorea Inc.InBody Co. Ltd.Industrial Bank of KoreaING Life Insurance Korea Ltd.(b)

Innocean Worldwide Inc.Innox Advanced Materials Co. Ltd.(a)(c)

iNtRON Biotechnology Inc.(a)(c)

IS Dongseo Co. Ltd.It's Hanbul Co. Ltd.(c)

Jayjun Cosmetic Co. Ltd.(a)(c)

JB Financial Group Co. Ltd.(c)

Jeil Pharmaceutical Co. Ltd.(c)

Jenax Inc.(a)(c)

Jusung Engineering Co. Ltd.(c)

JW Holdings Corp.(c)

JW Pharmaceutical Corp.Kakao Corp.Kakao M Corp.(c)

Kangwon Land Inc.KB Financial Group Inc.KC Co. Ltd.KC Tech Co. Ltd./New(c)

KCC Corp.KEPCO Engineering & Construction Co. Inc.(c)

KEPCO Plant Service & Engineering Co. Ltd.(c)

Kia Motors Corp.KISWIRE Ltd.(c)

KIWOOM Securities Co. Ltd.(c)

Koh Young Technology Inc.(c)

Kolon Corp.(c)

Kolon Industries Inc.(c)

Kolon Life Science Inc.(a)(c)

Komipharm International Co. Ltd.(a)(c)

Korea Aerospace Industries Ltd.(a)(c)

Korea Electric Power Corp.Korea Gas Corp.(a)

Korea Investment Holdings Co. Ltd.Korea Kolmar Co. Ltd.(c)

Korea Line Corp.(a)(c)



536,501$

108,499,669

1,228,622

158,428,923

241,645

8,664,204

619,475

35,515,149

173,318

3,673,933

177,252

5,697,650

165,995

6,252,050

245,995

1,789,138129,737 3,983,761

1,839,813 26,625,616265,704 9,908,90291,160 5,556,11362,442 4,280,777

146,693 5,661,143154,552 4,222,41978,016 3,879,269

199,327 4,622,826957,941 5,385,33664,952 2,440,332

157,395 2,022,284371,169 3,460,502383,546 2,995,925129,588 4,868,792360,748 34,637,43069,219 5,329,725

890,730 22,186,6513,065,224 147,296,816

87,601 1,795,985127,935 2,753,46044,083 14,088,403

143,224 4,145,451197,460 7,409,673

2,050,446 59,252,64992,662 2,578,83998,167 11,429,063

123,629 10,883,98564,529 2,813,547

129,852 7,974,58477,794 5,015,709

345,795 9,431,210571,734 23,337,164

1,958,432 60,227,303196,635 10,999,666321,860 28,037,158127,650 9,130,122123,622 2,889,999



12

Hyundai Department Store Co. Ltd.Hyundai Development Co. Engineering &ConstructionHyundai Electric & Energy System Co. Ltd.(a)(c)

Hyundai Elevator Co. Ltd.(c)

Hyundai Engineering & Construction Co. Ltd.Hyundai Glovis Co. Ltd.Hyundai Greenfood Co. Ltd.Hyundai Heavy Industries Co. Ltd.(a)

Hyundai Heavy Industries Holdings Co. Ltd.(a)(c)

Hyundai Home Shopping Network Corp.Hyundai Livart Furniture Co. Ltd.Hyundai Marine & Fire Insurance Co. Ltd.Hyundai Merchant Marine Co. Ltd.(a)(c)

Hyundai Mipo Dockyard Co. Ltd.(a)(c)

107,446 11,213,577

475,391 20,463,04852,104 4,437,263

120,489 14,922,104619,749 42,430,054150,439 18,770,857429,513 5,956,880290,913 30,900,82078,803 28,364,54861,501 6,076,215

150,537 3,170,082514,758 16,260,040

2,080,020 11,403,978103,452 8,992,488

Korea Petrochemical Ind. Co Ltd.Korea REIT Co. Ltd.Korea Zinc Co. Ltd.Korean Air Lines Co. Ltd.Korean Reinsurance Co.KT Corp.KT Skylife Co. Ltd.KT&G Corp.Kukdo Chemical Co. Ltd.Kumho Industrial Co. Ltd.(c)

Kumho Petrochemical Co. Ltd.(c)

Kumho Tire Co. Inc.(a)(c)

Kwang Dong Pharmaceutical Co. Ltd.(c)

Kwangju Bank Co. Ltd.(c)

27,768 6,504,4021,772,209 4,800,640

65,001 24,451,881361,312 10,709,141790,668 9,315,35251,660 1,293,956

299,885 3,574,862909,639 81,010,57086,229 5,175,580

301,609 3,791,272143,611 13,988,733884,200 4,995,388605,269 4,520,076394,473 4,007,124




May 31, 2018


L&F Co. Ltd.(c)

LF Corp.

LG Chem Ltd.

LG Corp.

LG Display Co. Ltd.

LG Electronics Inc.

LG Hausys Ltd.

LG Household & Health Care Ltd.LG Innotek Co. Ltd.(c)

LG International Corp.LIG Nex1 Co. Ltd.(c)

Lock&Lock Co. Ltd.Lotte Chemical Corp.Lotte Confectionery Co. Ltd.(c)

Lotte Corp.(a)

LOTTE Fine Chemical Co. Ltd.Lotte Food Co. Ltd.(c)

LOTTE Himart Co. Ltd.Lotte Shopping Co. Ltd.LS Corp.LS Industrial Systems Co. Ltd.Maeil Dairies Co. Ltd.Mando Corp.(c)

Medipost Co. Ltd.(a)(c)

Medy-Tox Inc.Meritz Fire & Marine Insurance Co. Ltd.Meritz Securities Co. Ltd.Mirae Asset Daewoo Co. Ltd.(c)

Modetour Network Inc.Muhak Co. Ltd.Namhae Chemical Corp.(c)

Namyang Dairy Products Co. Ltd.Naturalendo Tech Co. Ltd.(a)(c)

NAVER Corp.NCSoft Corp.(c)

Netmarble Corp.(b)(c)

Nexen Corp.Nexen Tire Corp.NH Investment & Securities Co. Ltd.NHN Entertainment Corp.(a)(c)

NHN KCP Corp.(a)(c)

NICE Holdings Co. Ltd.NICE Information Service Co. Ltd.Nong Shim Holdings Co. Ltd.(c)

NongShim Co. Ltd.NS Shopping Co. Ltd.



129,711$

5,878,178

176,850

4,733,172

363,121

114,027,978

741,912

50,518,429

1,818,993

37,461,519

837,392

71,935,154

63,008

4,167,606

74,925

93,347,813119,936 16,021,879257,814 6,302,147107,043 5,064,421186,745 4,123,133129,436 44,248,03219,760 3,354,590

248,013 13,482,594155,999 9,927,670

5,891 3,858,29270,150 5,121,57885,550 17,777,448

145,779 11,562,785130,492 9,345,50155,929 4,529,525

272,135 9,706,93576,438 7,275,42035,840 25,055,915

499,918 9,507,2303,187,629 12,079,8413,046,938 26,570,079

203,740 6,360,083186,136 2,857,786258,867 4,490,758

5,335 3,241,732115,946 1,683,339220,085 136,589,698138,807 45,455,606202,315 29,466,538452,516 2,938,552336,473 3,511,593

1,048,989 15,424,16294,099 5,787,619

189,984 2,485,064246,549 4,517,225439,420 4,973,25834,969 3,503,55025,679 7,765,995

244,677 3,041,581

Posco ICT Co. Ltd.(c)

S&T Motiv Co. Ltd.(c)

S-1 Corp.

Samchully Co. Ltd.

Samjin Pharmaceutical Co. Ltd.

Samsung Biologics Co. Ltd.(a)(b)(c)

Samsung C&T Corp.

Samsung Card Co. Ltd.Samsung Electro-Mechanics Co. Ltd.Samsung Electronics Co. Ltd.Samsung Engineering Co. Ltd.(a)

Samsung Fire & Marine Insurance Co. Ltd.Samsung Heavy Industries Co. Ltd.(a)

Samsung Life Insurance Co. Ltd.Samsung SDI Co. Ltd.Samsung SDS Co. Ltd.Samsung Securities Co. Ltd.Samyang Corp.(c)

Samyang Holdings Corp.(c)

Sangsangin Co. Ltd.(a)(c)

Seah Besteel Corp.Sebang Global Battery Co. Ltd.Seegene Inc.(a)

Seobu T&D(a)(c)

Seoul Semiconductor Co. Ltd.(c)

SFA Engineering Corp.Shinhan Financial Group Co. Ltd.Shinsegae Food Co. Ltd.(c)

Shinsegae Inc.Shinsegae International Inc.(c)

Silicon Works Co. Ltd.SillaJen Inc.(a)(c)

Sindoh Co. Ltd.SK Chemicals Co. Ltd.(a)

SK Discovery Co. Ltd.SK Gas Ltd.(c)

SK Holdings Co. Ltd.SK Hynix Inc.SK Innovation Co. Ltd.SK Materials Co. Ltd.(c)

SK Networks Co. Ltd.SK Securities Co. Ltd.(a)(c)

SK Telecom Co. Ltd.SKC Co. Ltd.SKCKOLONPI Inc.(c)

SL Corp.



459,575$

3,005,709

117,045

3,360,585

135,651

11,124,401

26,644

2,842,488

160,235

7,112,802

134,940

54,454,195

600,961

69,966,701

193,416

6,656,833442,637 55,024,220

37,836,079 1,779,571,5991,233,038 21,104,459

241,901 56,214,2963,089,621 21,467,843

553,614 52,898,782439,899 81,821,745278,303 54,475,563475,139 16,264,78940,585 3,219,08939,489 4,194,527

289,537 5,895,762130,976 2,843,210118,468 3,599,264181,598 5,323,528435,198 4,178,579346,812 6,579,438168,988 5,706,353

3,253,052 132,029,33827,238 4,118,73860,766 24,747,22834,151 5,385,843

117,749 4,249,210427,802 31,947,73573,210 3,640,29580,384 6,629,378

1 3746,870 4,348,068

261,550 67,210,3074,582,633 397,066,582

507,113 96,911,06151,810 8,021,790

1,195,293 5,505,4783,539,100 3,808,485

155,253 31,973,808184,857 6,628,065132,725 5,466,849166,634 2,882,995



13

NUTRIBIOTECH Co. Ltd.(a)(c)

OCI Co. Ltd.Orion Corp./Republic of KoreaOrion Holdings Corp.(c)

Osstem Implant Co. Ltd.(a)(c)

Ottogi Corp.Pan Ocean Co. Ltd.(a)(c)

Paradise Co. Ltd.(c)

Partron Co. Ltd.(c)

Pearl Abyss Corp.(a)

Poongsan Corp.POSCOPOSCO Chemtech Co. Ltd.Posco Daewoo Corp.

145,917 3,221,694143,136 17,594,063169,349 20,344,817180,449 4,009,234108,900 5,081,56210,780 8,100,376

1,917,653 9,001,646423,390 7,619,802369,988 2,629,16541,709 8,651,730

198,623 6,624,145591,803 186,388,161200,792 8,326,362370,089 7,862,181

SM Entertainment Co. Ltd.(a)(c)

S-Oil Corp.Songwon Industrial Co. Ltd.Soulbrain Co. Ltd.(c)

SPC Samlip Co. Ltd.Ssangyong Cement Industrial Co. Ltd.Ssangyong Motor Co.(a)(c)

Sungwoo Hitech Co. Ltd.(c)

Taekwang Industrial Co. Ltd.Taewoong Co. Ltd.(a)(c)

Taeyoung Engineering & Construction Co. Ltd.(c)

Telcon RF Pharmaceutical Inc.(a)(c)

Tera Resource Co. Ltd.(a)(d)

Tongyang Inc.(c)

211,958 8,170,003355,611 35,463,781178,231 4,472,51686,423 5,612,14327,088 2,776,774

248,515 7,780,863657,286 2,798,778473,414 2,231,034

3,683 4,243,505120,049 2,071,442

505,937 8,049,371541,750 5,955,50649,111 —

1,728,154 3,446,849




May 31, 2018


Tongyang Life Insurance Co. Ltd.

Toptec Co. Ltd.(a)(c)

Value Added Technology Co. Ltd.(c)

Vieworks Co. Ltd.

ViroMed Co. Ltd.(a)(c)

Webzen Inc.(a)(c)

Wonik Holdings Co. Ltd.(a)

WONIK IPS Co. Ltd.Woori BankYG Entertainment Inc.(c)

Youlchon Chemical Co. Ltd.Youngone Corp.Youngone Holdings Co. Ltd.Yuanta Securities Korea Co. Ltd.(a)(c)

Yuhan Corp.Yungjin Pharmaceutical Co. Ltd.(a)(c)

AcBel Polytech Inc.(c)

Accton Technology Corp.(c)

Acer Inc.(c)

A-DATA Technology Co. Ltd.(c)

Advanced Ceramic X Corp.(c)

Advanced Wireless Semiconductor Co.(c)

Advantech Co. Ltd.(c)

Airtac International Group(c)

Alpha Networks Inc.(c)

AmTRAN Technology Co. Ltd.(c)

Ardentec Corp.ASE Industrial Holding Co. Ltd.Asia Cement Corp.Asia Optical Co. Inc.(c)

Asia Pacific Telecom Co. Ltd.(a)

Asia Polymer Corp.(c)

Asustek Computer Inc.AU Optronics Corp.(c)

Bank of Kaohsiung Co. Ltd.(c)

BES Engineering Corp.(c)

Bizlink Holding Inc.(c)

Brogent Technologies Inc.(c)

Capital Securities Corp.Casetek Holdings Ltd.(c)

Catcher Technology Co. Ltd.Cathay Financial Holding Co. Ltd.Cathay Real Estate Development Co. Ltd.(c)

Center Laboratories Inc.(a)(c)



456,315$

3,014,020

186,602

4,665,266

107,753

3,568,609

79,529

2,342,452

114,912

28,249,622

156,041

3,988,060

369,343

2,244,257

187,318

5,925,6403,591,572 50,977,366

160,042 4,305,597308,969 4,141,752192,563 5,689,62576,965 3,912,688

844,771 3,409,02169,141 15,265,604

919,399 6,985,368

7,273,687,748Taiwan — 12.3%

5,324,000 3,465,0474,124,000 11,878,618

22,953,872 18,808,0562,068,820 4,667,731

396,000 3,548,7541,700,000 3,744,8062,600,165 17,617,058

935,880 16,086,5844,242,700 3,037,4297,913,000 3,393,7575,229,546 6,047,887

27,925,222 70,834,80017,762,050 19,593,0032,401,000 7,588,896

18,721,000 5,023,6759,123,977 5,542,3255,296,000 47,990,388

65,565,000 28,776,25519,872,149 6,214,71019,306,000 5,199,9871,074,926 7,570,028

358,799 2,562,72220,779,000 7,871,4901,663,485 4,175,1615,125,000 59,611,919

63,937,078 114,381,0356,983,900 4,172,4153,059,409 7,035,472

China Steel Chemical Corp.(c)

China Steel Corp.(c)

China Synthetic Rubber Corp.(c)

Chin-Poon Industrial Co. Ltd.(c)

Chipbond Technology Corp.(c)

Chlitina Holding Ltd.

Chong Hong Construction Co. Ltd.

Chroma ATE Inc.(c)

Chunghwa Precision Test Tech Co. Ltd.(c)

Chunghwa Telecom Co. Ltd.Cleanaway Co. Ltd.(c)

Clevo Co.CMC Magnetics Corp.(a)(c)

Compal Electronics Inc.Compeq Manufacturing Co. Ltd.(c)

Concraft Holding Co. Ltd.(c)

Continental Holdings Corp.(c)

Coretronic Corp.CSBC Corp. Taiwan(a)

CTBC Financial Holding Co. Ltd.CTCI Corp.(c)

Cub Elecparts Inc.(c)

Darwin Precisions Corp.(c)

Delta Electronics Inc.Depo Auto Parts Ind. Co. Ltd.(c)

E Ink Holdings Inc.E.Sun Financial Holding Co. Ltd.Eclat Textile Co. Ltd.Egis Technology Inc.(a)(c)

Elan Microelectronics Corp.Elite Advanced Laser Corp.Elite Material Co. Ltd.(c)

Elite Semiconductor Memory Technology Inc.(c)

Ennoconn Corp.(c)

Epistar Corp.(a)(c)

Eternal Materials Co. Ltd.Eva Airways Corp.Evergreen Marine Corp. Taiwan Ltd.(a)

Everlight Chemical Industrial Corp.(c)

Everlight Electronics Co. Ltd.(c)

Far Eastern Department Stores Ltd.(c)

Far Eastern International Bank(c)

Far Eastern New Century Corp.Far EasTone Telecommunications Co. Ltd.Faraday Technology Corp.(c)

Farglory Land Development Co. Ltd.


Taiwan (continued)

1,552,000$

8,054,870

97,166,529

76,535,891

5,993,005

9,631,133

2,434,000

3,225,132

5,494,000

11,552,225

525,000

4,774,878

1,952,122

6,098,447

3,158,000

15,757,589178,000 4,794,353

28,916,000 105,196,469747,000 4,799,409

3,870,175 4,191,61933,729,566 11,257,63630,156,000 19,827,8868,981,000 10,071,645

384,000 3,793,6699,384,600 4,134,5303,592,200 4,963,6068,299,000 5,041,196

136,493,599 98,401,6735,176,000 8,490,910

417,067 4,969,4754,562,000 4,034,945

15,767,000 58,412,8631,068,000 2,912,2577,130,000 8,150,543

71,837,926 50,111,3981,265,683 15,461,174

649,000 3,454,9513,521,000 5,699,5981,139,560 4,050,6362,184,000 5,846,0623,811,000 5,316,817

452,000 7,354,4388,152,000 11,046,5507,698,145 7,553,876

15,272,963 7,722,75716,775,808 8,314,6957,940,781 5,115,1343,181,000 4,289,2518,270,167 5,465,324

20,078,201 6,734,84022,210,916 21,164,55012,373,000 31,550,3962,369,000 5,012,9202,351,782 2,633,456



14

Chailease Holding Co. Ltd.Chang Hwa Commercial Bank Ltd.Cheng Loong Corp.(c)

Cheng Shin Rubber Industry Co. Ltd.(c)

Cheng Uei Precision Industry Co. Ltd.(c)

Chicony Electronics Co. Ltd.China Airlines Ltd.(a)

China Bills Finance Corp.(c)

China Development Financial Holding Corp.China Life Insurance Co. Ltd./TaiwanChina Man-Made Fiber Corp.(a)

China Metal Products(c)

China Motor Corp.China Petrochemical Development Corp.(a)

9,026,945 32,237,47540,612,470 23,788,82410,109,000 6,022,58415,868,650 24,151,3423,305,000 3,910,4273,884,326 9,178,789

21,404,000 7,250,99213,817,000 6,502,335

112,024,000 42,062,98124,271,622 25,477,44616,539,550 5,741,0783,415,146 3,391,0384,945,000 4,802,814

20,851,900 9,604,199

Feng Hsin Steel Co. Ltd.Feng TAY Enterprise Co. Ltd.(c)

Firich Enterprises Co. Ltd.(c)

First Financial Holding Co. Ltd.FLEXium Interconnect Inc.(c)

Formosa Chemicals & Fibre Corp.Formosa Petrochemical Corp.Formosa Plastics Corp.Formosa Taffeta Co. Ltd.Foxconn Technology Co. Ltd.(c)

Foxsemicon Integrated Technology Inc.(c)

Fubon Financial Holding Co. Ltd.General Interface Solution Holding Ltd.(c)

Genius Electronic Optical Co. Ltd.(a)(c)

3,895,000 7,644,0102,466,506 10,948,8942,541,798 4,318,126

73,305,052 49,789,1562,712,616 7,858,587

25,385,210 97,435,0139,961,000 40,393,889

33,129,800 118,867,6634,460,000 4,964,4047,026,424 17,307,214

585,000 4,119,78749,770,000 86,544,9661,404,000 8,973,716

556,000 8,313,602




May 31, 2018


Getac Technology Corp.

Giant Manufacturing Co. Ltd.

Gigabyte Technology Co. Ltd.(c)

Gigasolar Materials Corp.(c)

Ginko International Co. Ltd.(c)

Gintech Energy Corp.(a)(c)

Global Unichip Corp.(c)

Globalwafers Co. Ltd.(c)

Gloria Material Technology Corp.(c)

Goldsun Building Materials Co. Ltd.(a)(c)

Gourmet Master Co. Ltd.(c)

Grand Pacific PetrochemicalGrape King Bio Ltd.(c)

Great Wall Enterprise Co. Ltd.(c)

Greatek Electronics Inc.HannStar Display Corp.(c)

Highwealth Construction Corp.(c)

Hiwin Technologies Corp.(c)

Ho Tung Chemical Corp.(a)

Holy Stone Enterprise Co. Ltd.(c)

Hon Hai Precision Industry Co. Ltd.Hota Industrial Manufacturing Co. Ltd.(c)

Hotai Motor Co. Ltd.(c)

HTC Corp.(a)(c)

Hu Lane Associate Inc.Hua Nan Financial Holdings Co. Ltd.Huaku Development Co. Ltd.Hung Sheng Construction Ltd.IEI Integration Corp.(c)

Innolux Corp.(c)

International Games System Co. Ltd.(c)

Inventec Corp.ITEQ Corp.Kenda Rubber Industrial Co. Ltd.(c)

Kerry TJ Logistics Co. Ltd.(c)

Kindom Construction Corp.(c)

King Slide Works Co. Ltd.(c)

King Yuan Electronics Co. Ltd.King's Town Bank Co. Ltd.Kinpo Electronics(c)

Kinsus Interconnect Technology Corp.(c)

LandMark Optoelectronics Corp.(c)

Largan Precision Co. Ltd.(c)

LCY Chemical Corp.Lealea Enterprise Co. Ltd.(a)(c)

Lien Hwa Industrial Corp.(c)


Taiwan (continued)

4,085,000$

5,903,593

2,337,000

10,140,013

4,107,000

10,842,705

372,800

2,264,560

470,000

4,219,749

5,625,762

2,844,660

717,000

6,102,331

1,780,000

35,229,8787,719,048 4,933,657

15,259,000 4,843,319582,855 6,050,028

8,909,000 9,544,8791,038,000 8,002,8705,393,500 6,975,5563,461,000 6,272,460

22,077,640 6,874,9696,514,230 9,870,8691,742,621 24,718,853

20,855,920 6,076,8711,350,330 9,419,387

128,109,410 366,436,1412,050,216 9,922,1112,185,000 19,945,5135,363,000 10,489,188

642,000 3,096,27456,968,182 34,034,6932,815,000 6,670,7277,758,000 10,201,9323,397,582 3,861,211

70,363,241 27,242,081586,000 3,735,661

19,832,000 16,051,4662,845,000 6,096,1234,016,889 4,518,1043,213,000 4,187,6295,217,000 3,682,711

426,000 6,227,5928,910,000 8,356,4248,308,000 9,705,122

16,253,000 5,392,0802,230,000 4,279,659

408,900 4,094,254794,000 108,652,771

4,726,000 7,247,95813,906,173 5,267,9296,698,405 8,562,619

Nan Kang Rubber Tire Co. Ltd.(c)

Nan Ya Plastics Corp.

Nan Ya Printed Circuit Board Corp.(c)

Nanya Technology Corp.

Neo Solar Power Corp.(a)(c)

Nien Made Enterprise Co. Ltd.(c)

Novatek Microelectronics Corp.

OBI Pharma Inc.(a)

Oriental Union Chemical Corp.Pan-International Industrial Corp.(c)

Parade Technologies Ltd.(c)

PChome Online Inc.(c)

Pegatron Corp.PharmaEngine Inc.(c)

PharmaEssentia Corp.(a)

Pharmally International Holding Co. Ltd.Phison Electronics Corp.Pixart Imaging Inc.Pou Chen Corp.Powertech Technology Inc.Poya International Co. Ltd.(c)

President Chain Store Corp.President Securities Corp.(a)(c)

Primax Electronics Ltd.Prince Housing & Development Corp.(c)

Qisda Corp.(c)

Quanta Computer Inc.(c)

Radiant Opto-Electronics Corp.(c)

Radium Life Tech Co. Ltd.(a)

Realtek Semiconductor Corp.Ritek Corp.(a)

Ruentex Development Co. Ltd.(a)(c)

Ruentex Industries Ltd.(c)

Sanyang Motor Co. Ltd.(c)

ScinoPharm Taiwan Ltd.(c)

Sercomm Corp.Shin Kong Financial Holding Co. Ltd.(c)

Shin Zu Shing Co. Ltd.(c)

Shining Building Business Co. Ltd.(a)

Shinkong Synthetic Fibers Corp.(c)

Sigurd Microelectronics Corp.(c)

Silergy Corp.(c)

Simplo Technology Co. Ltd.Sinbon Electronics Co. Ltd.(c)

Sino-American Silicon Products Inc.SinoPac Financial Holdings Co. Ltd.


Taiwan (continued)

5,220,000$

4,573,369

37,731,440

105,405,989

2,244,000

1,891,127

8,256,000

27,445,141

10,547,806

4,083,726

1,131,000

8,965,255

4,193,000

18,962,719

901,000

4,871,6525,516,000 6,010,9613,483,366 2,714,704

528,000 8,793,685830,070 4,017,160

15,015,000 31,722,360822,793 3,666,134

1,215,000 7,218,263335,704 4,319,340

1,045,000 9,608,9151,490,000 5,370,893

15,928,000 19,510,2925,183,000 15,465,187

416,447 4,420,0114,575,000 46,877,660

12,029,135 5,861,7023,686,000 7,172,331

11,352,995 4,357,57415,638,000 11,065,05320,426,000 36,132,3033,628,000 7,604,372

13,015,196 4,626,3323,608,110 13,788,649

17,799,503 9,148,8198,013,986 9,669,2624,814,906 9,851,1005,840,000 4,229,6952,326,027 2,655,0782,166,000 5,002,660

65,669,443 26,301,5311,112,000 3,247,5018,723,281 3,493,796

15,006,000 5,459,1866,332,000 7,904,037

454,000 10,394,8071,107,400 6,948,6242,253,809 6,078,0594,383,000 20,626,571

76,575,746 28,369,433



15

Lite-On Technology Corp.Long Chen Paper Co. Ltd.(c)

Lotes Co. Ltd.Macronix International(a)(c)

Makalot Industrial Co. Ltd.Masterlink Securities Corp.(c)

MediaTek Inc.Mega Financial Holding Co. Ltd.Merida Industry Co. Ltd.(c)

Merry Electronics Co. Ltd.(c)

Microbio Co. Ltd.(a)

Micro-Star International Co. Ltd.Mitac Holdings Corp.(c)

Motech Industries Inc.(a)(c)

16,759,238 21,870,9415,159,000 5,725,239

485,000 3,075,61414,514,000 23,978,8731,649,208 7,458,495

18,317,344 6,663,85411,875,572 123,466,47183,048,958 72,761,2151,709,850 7,304,7341,493,070 7,300,5286,761,141 4,603,4845,399,000 22,524,7405,877,560 6,454,0075,445,948 3,598,944

Sinyi Realty Inc.(c)

Sitronix Technology Corp.(c)

Soft-World International Corp.(c)

St. Shine Optical Co. Ltd.(c)

Standard Foods Corp.Sunny Friend Environmental Technology Co.Ltd.(c)

Synnex Technology International Corp.TA Chen Stainless Pipe(c)

Taichung Commercial Bank Co. Ltd.(c)

Taigen Biopharmaceuticals Holdings Ltd.(a)(c)

TaiMed Biologics Inc.(a)(c)

Tainan Spinning Co. Ltd.(c)

Taishin Financial Holding Co. Ltd.Taiwan Business Bank

3,226,087 4,479,2561,247,000 3,795,7511,450,000 4,195,885

348,000 9,291,9254,619,096 9,435,064

672,000 4,485,7579,781,250 15,670,1108,986,099 9,747,450

21,983,200 7,557,2643,139,000 2,372,9901,600,000 16,821,5889,954,894 5,050,294

72,964,448 35,920,28532,289,718 9,861,019




May 31, 2018


Taiwan Cement Corp.

Taiwan Cogeneration Corp.(c)

Taiwan Cooperative Financial Holding Co. Ltd.

Taiwan Fertilizer Co. Ltd.(c)

Taiwan Glass Industry Corp.(a)(c)

Taiwan High Speed Rail Corp.

Taiwan Hon Chuan Enterprise Co. Ltd.

Taiwan Mobile Co. Ltd.Taiwan Paiho Ltd.(c)

Taiwan PCB Techvest Co. Ltd.Taiwan Secom Co. Ltd.(c)

Taiwan Semiconductor Co. Ltd.(c)

Taiwan Semiconductor Manufacturing Co. Ltd.Taiwan Shin Kong Security Co. Ltd.(c)

Taiwan TEA Corp.(c)

Tatung Co. Ltd.(a)(c)

TCI Co. Ltd.Teco Electric and Machinery Co. Ltd.Test Research Inc.Test Rite International Co. Ltd.(c)

Ton Yi Industrial Corp.(c)

Tong Hsing Electronic Industries Ltd.Tong Yang Industry Co. Ltd.Topco Scientific Co. Ltd.(c)

TPK Holding Co. Ltd.(a)(c)

Transcend Information Inc.(c)

Tripod Technology Corp.TSRC Corp.(c)

TTY Biopharm Co. Ltd.Tung Ho Steel Enterprise Corp.(c)

Tung Thih Electronic Co. Ltd.(c)

TWi Pharmaceuticals Inc.(a)(c)

TXC Corp.U-Ming Marine Transport Corp.Unimicron Technology Corp.(c)

Uni-President Enterprises Corp.United Integrated Services Co. Ltd.United Microelectronics Corp.(c)

UPC Technology Corp.(c)

USI Corp.(c)

Vanguard International Semiconductor Corp.Visual Photonics Epitaxy Co. Ltd.(c)

Voltronic Power Technology Corp.(c)

Wafer Works Corp.(a)(c)

Wah Lee Industrial Corp.Walsin Lihwa Corp.(c)


Taiwan (continued)

28,522,000$

41,505,238

5,364,000

5,030,736

61,649,966

36,317,337

4,134,000

5,960,609

10,617,053

6,467,007

13,548,000

10,467,974

3,186,674

5,466,851

12,178,000

44,710,0452,123,000 5,016,718

161,000 150,1912,375,185 7,174,3483,134,000 8,922,457

194,243,000 1,452,211,4054,908,770 6,283,1088,952,000 4,631,143

16,725,000 12,587,779680,000 8,919,447

15,404,000 12,416,1542,302,400 4,941,1527,761,000 6,087,2628,388,000 3,597,4771,147,000 4,498,1893,246,400 5,482,6311,971,639 5,376,3302,601,000 5,581,9741,568,000 4,495,4763,735,000 10,571,1665,511,900 5,794,9322,004,124 6,488,3287,724,000 6,200,030

405,000 1,378,769874,000 2,473,681

3,420,000 4,274,7864,883,000 5,598,219

11,313,000 6,343,42137,906,369 92,483,8733,003,000 6,434,678

94,245,000 52,373,18711,109,099 7,600,97210,329,040 5,119,4456,780,000 14,844,6512,025,000 7,299,368

371,974 5,890,9494,260,000 9,938,5542,241,000 4,233,453

24,066,000 20,120,932

YFY Inc.(a)

Yieh Phui Enterprise Co. Ltd.(c)

Yuanta Financial Holding Co. Ltd.

Yulon Finance Corp.

Yulon Motor Co. Ltd.(c)

YungShin Global Holding Corp.(c)

Yungtay Engineering Co. Ltd.

Zhen Ding Technology Holding Ltd.(c)

Zinwell Corp.(c)

Advanced Info Service PCL, NVDRAirports of Thailand PCL, NVDRAmata Corp. PCL, NVDR(c)

AP Thailand PCL, NVDR(c)

Bangchak Corp. PCL, NVDR(c)

Bangkok Airways PCL, NVDR(c)

Bangkok Bank PCLBangkok Chain Hospital PCL, NVDRBangkok Dusit Medical Services PCL, NVDRBangkok Expressway & Metro PCL, NVDRBangkok Land PCL, NVDRBanpu PCL, NVDR(c)

Beauty Community PCL, NVDR(c)

Berli Jucker PCL, NVDRBTS Group Holdings PCL, NVDRBumrungrad Hospital PCL, NVDRCentral Pattana PCL, NVDRCharoen Pokphand Foods PCL, NVDRChularat Hospital PCL, NVDR(c)

CP ALL PCL, NVDRDelta Electronics Thailand PCL, NVDR(c)

Dynasty Ceramic PCL, NVDR(c)

Eastern Polymer Group PCL, NVDR(c)

Electricity Generating PCL, NVDREnergy Absolute PCL, NVDREsso Thailand PCL, NVDRGlow Energy PCL, NVDRGunkul Engineering PCL, NVDR(c)

Hana Microelectronics PCL, NVDR(c)

Home Product Center PCL, NVDRIndorama Ventures PCL, NVDRInter Far East Energy Corp., NVDR(a)(c)(d)

IRPC PCL, NVDRItalian-Thai Development PCL, NVDR(a)(c)

Jasmine International PCL, NVDR(c)


Taiwan (continued)

12,853,000$

5,598,239

13,125,900

4,446,636

81,133,912

38,181,939

1,847,000

7,582,431

7,415,000

5,865,377

3,318,650

4,502,549

3,572,000

5,960,983

3,101,950

7,009,0623,569,000 3,138,800

6,074,708,731Thailand — 2.5%

8,239,200 49,064,32034,395,000 73,649,8127,234,800 5,201,638

20,286,890 5,834,3044,464,000 5,058,4566,843,300 3,230,1921,840,500 11,103,986

14,172,050 7,265,44630,917,500 25,853,17770,947,485 18,185,976

112,698,500 7,045,85817,939,300 11,776,34619,459,100 10,645,02210,320,400 18,388,95955,739,100 16,901,1962,886,900 17,371,937

11,358,300 27,073,16025,932,700 20,266,25562,199,600 4,510,88140,795,900 102,978,0854,208,000 8,484,401

38,709,220 2,516,88610,655,300 2,464,8081,113,000 8,384,901

10,892,900 13,194,74412,179,200 5,596,5693,864,900 10,269,350

29,426,835 2,998,7965,343,100 5,720,574

40,031,574 18,270,11513,547,500 24,668,3927,049,000 2

84,889,300 17,513,89123,715,800 2,624,38023,357,400 4,234,852



16

Walsin Technology Corp.Waterland Financial Holdings Co. Ltd.Win Semiconductors Corp.Winbond Electronics Corp.(c)

Wistron Corp.(c)

Wistron NeWeb Corp.Wowprime Corp.(c)

WPG Holdings Ltd.WT Microelectronics Co. Ltd.XinTec Inc.(a)(c)

XPEC Entertainment Inc.(a)(d)

Yageo Corp.(c)

Yang Ming Marine Transport Corp.(a)

Yeong Guan Energy Technology Group Co. Ltd.(c)

2,583,597 33,414,34324,832,938 8,661,2552,866,427 23,295,729

24,856,480 16,633,76121,136,825 15,908,2622,325,736 5,557,889

664,260 2,316,81210,974,000 15,932,7474,139,734 6,286,6641,572,000 3,719,934

31,000 —1,691,370 53,685,325

11,342,677 3,592,677

975,937 2,175,879

Kasikornbank PCLKasikornbank PCL, NVDRKCE Electronics PCL, NVDR(c)

Khon Kaen Sugar Industry PCL, NVDR(c)

Kiatnakin Bank PCL, NVDRKrung Thai Bank PCL, NVDRKrungthai Card PCL, NVDRLPN Development PCL, NVDR(c)

Major Cineplex Group PCL, NVDR(c)

Minor International PCL, NVDRMuangthai Capital PCL, NVDR(c)

PTG Energy PCL, NVDR(c)

PTT Exploration & Production PCL, NVDRPTT Global Chemical PCL, NVDR

9,614,200 58,604,8454,583,200 27,436,1613,885,700 3,947,648

17,499,086 1,805,1573,598,600 7,733,784

26,461,700 14,475,766288,700 3,149,619

8,759,200 2,655,9624,608,400 3,889,553

17,742,660 18,025,5227,341,200 7,171,3827,366,700 4,352,317

11,369,101 47,800,69017,354,600 48,418,195




May 31, 2018


PTT PCL, NVDR

Quality Houses PCL, NVDR(c)

Robinson PCL, NVDR

Siam Cement PCL (The), NVDR

Siam Commercial Bank PCL (The), NVDR

Siam Global House PCL, NVDR(c)

Singha Estate PCL, NVDR(a)(c)

Sino-Thai Engineering & Construction PCL,NVDR(a)(c)

Sri Trang Agro-Industry PCL, NVDR(c)

Srisawad Corp PCL, NVDR(c)

Supalai PCL, NVDR(a)(c)

Super Energy Corp. PCL, NVDR(a)(c)

Thai Airways International PCL, NVDR(a)

Thai Oil PCL, NVDRThai Union Group PCL, NVDRThai Vegetable Oil PCL, NVDRThanachart Capital PCL, NVDRThoresen Thai Agencies PCL, NVDR(c)

TICON Industrial Connection PCL, NVDR(c)

Tisco Financial Group PCL, NVDRTMB Bank PCL, NVDRTrue Corp. PCL, NVDRTTW PCL, NVDR(c)

Unique Engineering & Construction PCL,NVDR(c)

VGI Global Media PCL, NVDR(c)

Vibhavadi Medical Center PCL, NVDRWHA Corp. PCL, NVDR

AG Anadolu Grubu Holding AS(c)

Akbank Turk ASAksa Akrilik Kimya Sanayii ASAlbaraka Turk Katilim Bankasi AS(c)

Anadolu Efes Biracilik Ve Malt Sanayii ASArcelik ASAselsan Elektronik Sanayi Ve Ticaret AS(c)

BIM Birlesik Magazalar ASCimsa Cimento Sanayi VE Ticaret AS(c)

Coca-Cola Icecek ASEmlak Konut Gayrimenkul Yatirim Ortakligi ASEregli Demir ve Celik Fabrikalari TASFord Otomotiv Sanayi ASHaci Omer Sabanci Holding ASIs Gayrimenkul Yatirim Ortakligi AS


Thailand (continued)

83,204,000$

135,899,000

49,241,017

5,017,997

4,738,600

9,332,035

3,120,600

43,506,958

13,718,300

57,034,508

16,988,365

8,815,469

25,494,400

2,725,566

7,855,828

5,549,9139,018,360 3,523,8985,984,381 6,594,2307,336,500 5,790,767

136,642,200 6,321,6776,309,000 3,096,3218,394,800 24,142,595

16,929,500 9,155,3725,134,600 4,975,6995,678,600 9,141,854

12,982,223 3,185,697364,100 193,489

3,262,550 8,464,884119,740,800 9,282,81391,687,711 20,492,87715,603,300 6,048,169

7,419,100 3,409,21429,042,400 7,035,90553,583,300 4,321,50477,225,100 10,621,771

1,231,494,450Turkey — 0.8%

692,219 3,432,52916,736,180 29,618,2931,052,988 2,678,042

10,857,048 3,254,1591,752,959 9,735,5492,287,669 8,379,3891,824,096 9,487,4141,777,030 27,120,812

905,465 2,235,002751,419 5,902,120

24,547,490 11,198,64811,714,678 28,993,341

626,980 8,843,4526,769,992 13,920,600

832,047 183,373

Turkcell Iletisim Hizmetleri AS

Turkiye Garanti Bankasi AS

Turkiye Is Bankasi AS, Class C

Turkiye Sinai Kalkinma Bankasi AS

Turkiye Sise ve Cam Fabrikalari AS

Turkiye Vakiflar Bankasi TAO, Class D

Ulker Biskuvi Sanayi AS

Yapi ve Kredi Bankasi AS(a)(c)

Zorlu Enerji Elektrik Uretim AS(a)(c)

Abu Dhabi Commercial Bank PJSCAgthia Group PJSCAir Arabia PJSCAl Waha Capital PJSCAldar Properties PJSCAmanat Holdings PJSCAmlak Finance PJSC(a)

DAMAC Properties Dubai Co. PJSCDana Gas PJSCDeyaar Development PJSC(a)

DP World Ltd.Dubai Investments PJSCDubai Islamic Bank PJSCEmaar Malls PJSCEmaar Properties PJSCEmirates Telecommunications Group Co. PJSCEshraq Properties Co. PJSC(a)

First Abu Dhabi Bank PJSC

Total Common Stocks — 96.6%(Cost: $40,629,527,228)

Alpargatas SA, Preference Shares, NVSBanco ABC Brasil SA, Preference Shares, NVSBanco Bradesco SA, Preference Shares, NVSBanco do Estado do Rio Grande do Sul SA,Class B, Preference Shares, NVSBradespar SA, Preference Shares, NVSBraskem SA, Class A, Preference Shares, NVSCentrais Eletricas Brasileiras SA, Class B,Preference Shares, NVSCia. Brasileira de Distribuicao, PreferenceShares, NVSCia. de Saneamento do Parana, PreferenceShares, NVS


Turkey (continued)

8,172,391$

21,613,173

17,446,525

34,259,008

13,108,137

17,217,710

15,905,981

4,276,697

6,494,331

5,696,468

6,734,533

8,118,634

1,526,823

5,888,638

7,258,915

6,431,11010,140,104 3,307,442

385,833,784United Arab Emirates — 0.6%

18,006,258 34,461,9721,909,296 2,495,030

22,614,717 7,141,84610,879,283 5,272,07629,288,983 16,346,3017,727,821 2,882,299

10,757,873 2,331,31412,686,804 8,254,8937,454,404 2,191,785

22,304,796 2,884,3851,433,934 32,263,5158,441,615 4,734,282

11,280,889 15,570,86115,384,031 8,585,89129,971,617 42,430,17814,556,930 64,201,64314,708,334 2,923,12712,664,763 42,409,535

297,380,933

47,552,667,515Preferred StocksBrazil — 2.0%

1,400,200 4,955,529962,305 4,237,806

26,141,302 204,761,424

1,554,900 6,851,6561,951,300 16,321,7451,395,100 17,007,704

1,793,500 8,066,789

1,260,800 26,915,213

2,059,596 4,922,169



17

Kardemir Karabuk Demir Celik Sanayi ve TicaretAS, Class D(a)

KOC Holding ASKoza Altin Isletmeleri AS(a)(c)

Koza Anadolu Metal Madencilik Isletmeleri AS(a)(c)

Otokar Otomotiv Ve Savunma Sanayi AS(c)

Petkim Petrokimya Holding ASSoda Sanayii ASTAV Havalimanlari Holding ASTekfen Holding ASTofas Turk Otomobil Fabrikasi ASTrakya Cam Sanayii ASTupras Turkiye Petrol Rafinerileri ASTurk Hava Yollari AO(a)

Turk Telekomunikasyon AS(a)(c)

8,533,068 8,951,5935,697,870 17,542,726

388,748 4,093,572

1,869,460 3,481,457118,497 2,017,409

6,259,398 6,497,4304,137,279 4,841,6951,573,011 7,606,0041,785,009 5,955,9961,161,979 6,402,1596,086,117 5,365,2311,012,898 23,684,7744,708,373 17,277,195

248,634 324,940

Cia. Energetica de Minas Gerais, PreferenceShares, NVSCia. Energetica de Sao Paulo, Class B,Preference Shares, NVSCia. Energetica do Ceara, Class A, PreferenceShares, NVSCia. Paranaense de Energia, PreferenceShares, NVSGerdau SA, Preference Shares, NVS

6,882,294 14,174,674

1,580,300 7,014,503

93,400 1,274,075

855,600 5,399,1228,345,874 33,167,905




May 31, 2018


AffiliatesInvestments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment CompanyAct of 1940, as amended, were as follows:

Gol Linhas Aereas Inteligentes SA, PreferenceShares, NVSItau Unibanco Holding SA, Preference Shares,NVSItausa-Investimentos Itau SA, PreferenceShares, NVS

Lojas Americanas SA, Preference Shares, NVS

Marcopolo SA, Preference Shares, NVSMetalurgica Gerdau SA, Preference Shares,NVS

Petroleo Brasileiro SA, Preference Shares, NVSTelefonica Brasil SA, Preference Shares, NVS

Embotelladora Andina SA, Class B, PreferenceSharesSociedad Quimica y Minera de Chile SA, SeriesB, Preference Shares

Avianca Holdings SA, Preference Shares, NVSBancolombia SA, Preference Shares, NVSGrupo Aval Acciones y Valores SA, PreferenceShares, NVSGrupo de Inversiones Suramericana SA,Preference Shares, NVS

Surgutneftegas OJSC, Preference Shares, NVSTransneft PJSC, Preference Shares

Amorepacific Corp., Preference Shares, NVS

Preference Shares, NVSSeries 2, Preference Shares, NVS

LG Chem Ltd., Preference Shares, NVSLG Household & Health Care Ltd., PreferenceShares, NVSSamsung Electronics Co. Ltd., PreferenceShares, NVS

Total Preferred Stocks — 3.0%(Cost: $1,362,027,623)


Brazil (continued)

946,200$

3,427,515

25,333,288

292,376,504

32,619,616

98,365,566

5,859,510

27,959,746

4,813,386

4,614,274

5,966,536

10,910,732

30,774,308

156,844,394 3,418,540 41,767,315

991,336,360Chile — 0.1%

2,320,378 10,024,427

769,496 40,077,650

50,102,077Colombia — 0.1%

3,641,108 3,511,2423,878,177 44,985,701

33,063,307 14,253,375

648,662 7,928,576

70,678,894Russia — 0.1%

54,665,108 26,732,8622,068 5,660,436

32,393,298South Korea — 0.7%

77,357 11,661,499Hyundai Motor Co.

169,458 14,054,033278,389 24,405,36260,228 10,978,990

17,477 11,884,263

6,884,671 258,666,149

331,650,296

1,476,160,925

CrystalGenomics Inc., NVS (Expires 06/26/18)(a)(c)

Sungwoo Hitech Co. Ltd., NVS (Expires06/19/18)(a)(c)

Dubai Islamic Bank PJSC, NVS (Expires06/06/18)(a)

Total Rights — 0.0%(Cost: $0)

BlackRock Cash Funds: Institutional, SLAgency Shares, 1.98%(f)(g)(h)

BlackRock Cash Funds: Treasury, SL AgencyShares, 1.64%(f)(g)

Total Short-Term Investments — 5.1%(Cost: $2,521,845,824)

Total Investments in Securities — 104.7%(Cost: $44,513,400,675)Other Assets, Less Liabilities — (4.7)%

Net Assets — 100.0%


RightsSouth Korea — 0.0%

20,038 $ 61,344

157,825 87,994

149,338United Arab Emirates — 0.0%

3,760,296 2,006,501

2,155,839Short-Term InvestmentsMoney Market Funds — 5.1%

2,496,547,426 2,497,046,736

25,216,119 25,216,119

2,522,262,855

2,522,262,855

51,553,247,134(2,312,634,000)

$ 49,240,613,134

(a) Non-income producing security.(b) Security exempt from registration pursuant to Rule 144A under the Securities Act

of 1933, as amended. These securities may be resold in transactions exempt fromregistration to qualified institutional investors.

(c) All or a portion of this security is on loan.(d) Security is valued using significant unobservable inputs and is classified as Level

3 in the fair value hierarchy.(e) This security may be resold to qualified foreign investors and foreign institutional

buyers under Regulation S of the Securities Act of 1933.(f) Affiliate of the Fund.(g) Annualized 7-day yield as of period-end.(h) All or a portion of this security was purchased with cash collateral received from

loaned securities.



BlackRock Cash Funds: Institutional,SL Agency SharesBlackRock Cash Funds: Treasury, SLAgency Shares

Affiliated Issuer

Shares Held at 08/31/17 Net Activity

Shares Held at 05/31/18

Value at 05/31/18

Income

Net

Realized Gain (Loss)

Change in Unrealized Appreciation (Depreciation)

2,544,586,672 (48,039,246) 2,496,547,426 $2,497,046,736

$39,047,492(a)

$(229,432)

$111,170

111,111,661 (85,895,542) 25,216,119 25,216,119

957,293

—

—

$2,522,262,855

$40,004,785

$(229,432)

$111,170

(a) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and otherpayments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.

18



MSCI Emerging Markets E-Mini

Common Stocks

Preferred Stocks

Rights

Money Market Funds

Futures Contracts

ADRCPOGDRNVDRNVS


May 31, 2018

Futures Contracts

Futures contracts outstanding as of May 31, 2018 were as follows:

Description

Numberof

ContractsExpiration

Date

Notional Amount (000)

Value/UnrealizedAppreciation

(Depreciation)

Long Contracts 3,444 06/15/18 $193,157 $ (4,188,917)

Fair Value MeasurementsVarious inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regardingvaluation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.comand on the U.S. Securities and Exchange Commission website at www.sec.gov.

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund'sinvestments into major categories is disclosed in the Consolidated Schedule of Investments above.

Level 1 Level 2 Level 3 Total

Investments

Assets

$47,134,984,845

$ 401,276,271

$ 16,406,399

$47,552,667,515

1,476,160,925

—

—

1,476,160,925

87,994

2,067,845

—

2,155,839

2,522,262,855

—

—

2,522,262,855

$51,133,496,619

$ 403,344,116

$ 16,406,399

$51,553,247,134

Derivative financial instruments(a)

Liabilities

$(4,188,917)

$—

$—

$(4,188,917)

(a) Shown at the unrealized appreciation (depreciation) on the contracts.

Portfolio Abbreviations - EquityAmerican Depositary ReceiptCertificates of Participation (Ordinary)Global Depositary ReceiptNon-Voting Depositary ReceiptNon-Voting Shares



19



BlackRock Cash Funds:Institutional, SL Agency SharesBlackRock Cash Funds:Treasury, SL Agency SharesiShares MSCI EmergingMarkets ETF

06/07/18

06/07/18

06/07/18

iShares® Currency Hedged MSCI Emerging Markets ETF Schedule of Investments (unaudited)

May 31, 2018



Affiliated Issuer


Shares Purchased

Shares Sold


Value at 05/31/18

Income

Net



— 56,028,794 (a) — 56,028,794$

56,040,000

$302,345(b)

$(40,514)

$ —

— 5,959,774 (a) — 5,959,774 5,959,774

17,150

—

—

8,795,358 1,485,377 (1,250,678) 9,030,057 412,583,304

6,137,528

11,188,358

(1,987,950)

$474,583,078

$6,457,023

$11,147,844

$(1,987,950)

(a) Net of purchases and sales.(b) Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other

payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.

Forward Foreign Currency Exchange Contracts

Forward foreign currency exchange contracts outstanding as of May 31, 2018 were as follows:

Currency Purchased Currency Sold Counterparty Settlement Date

Unrealized Appreciation (Depreciation)

EUR7,024,000

USD8,176,498 MS

$36,508

HKD4,620,000

USD589,049 CITI 54

HKD709,891,000

USD90,495,483 MS 23,799

iShares MSCI Emerging Markets ETF(a)(b)

Total Investment Companies — 99.8%(Cost: $363,418,324)

BlackRock Cash Funds: Institutional, SL AgencyShares,1.98%(a)(c)(d)

BlackRock Cash Funds: Treasury, SL Agency Shares,1.64%(a)(c)

Total Short-Term Investments — 15.0%(Cost: $61,999,774)

Total Investments in Securities — 114.8%(Cost: $425,418,098)Other Assets, Less Liabilities — (14.8)%



Investment CompaniesExchange-Traded Funds — 99.8%

9,030,057 $ 412,583,304


56,028,794 56,040,000

5,959,774 5,959,774

61,999,774

61,999,774

474,583,078(61,072,632)

$ 413,510,446

(a) Affiliate of the Fund.(b) All or a portion of this security is on loan.(c) Annualized 7-day yield as of period-end.(d) All or a portion of this security was purchased with cash collateral received from

loaned securities.



06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

KRW79,583,829,000

USD73,680,544 MS 79,410

RUB4,856,000

USD76,971 CITI 798

TWD1,929,402,000

USD64,276,976 MS 113,079

USD1,750,556

BRL6,149,000 CITI 99,881

USD28,116,769

BRL98,001,000 UBS 1,808,785

USD433,171

CLP265,695,000 CITI 11,548

20



06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

iShares® Currency Hedged MSCI Emerging Markets ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Forward Foreign Currency Exchange Contracts (continued)



USD6,538,462

CLP3,960,706,000 UBS $ 253,344

USD8,556,325

EUR7,069,000 CITI 290,701

USD997,352

HKD7,821,000 CITI 84

USD34,889,373

INR2,337,376,000 CITI 254,250

USD3,651,721

KRW3,908,585,000 CITI 29,163

USD71,392,912

KRW76,347,580,000 CS 632,381

USD12,333,702

MXN233,066,000 CITI 654,349

USD40,197

RUB2,466,000 CITI 704

USD3,881,048

TRY15,916,000 CITI 373,843

USD687,190

TWD20,431,000 CITI 5,344

USD65,684,268

TWD1,939,328,000 CS 962,952

USD27,248,322

ZAR339,733,000 CITI 571,331

BRL12,369,000

USD3,304,569 MS 7,078

CLP184,235,000

USD291,834 MS 625

EUR635,000

USD743,066 MS 1,097

KRW621,737,000

USD575,412 MS 564

MXN19,236,000

USD956,021 MS 3,249

RUB7,023,000

USD112,278 MS 68

TRY272,000

USD59,166 MS 109

USD27,708,224

BRL103,112,000 MS 101,263

USD6,691,810

CLP4,199,178,000 MS 25,920

USD73,741,989

KRW79,583,829,000 MS 15,712

USD12,049,523

MXN238,943,000 MS 133,801

USD11,895,249

RUB743,233,000 MS 5,804

USD3,367,869

TRY15,249,000 MS 44,797

USD26,843,211

ZAR339,047,000 MS 318,298

6,860,693



06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

07/05/18

BRL1,038,000

USD293,349 CITI (14,702)

BRL103,112,000

USD27,792,992 MS (112,980)

CLP27,223,000

USD43,334 CITI (135)

CLP4,199,178,000

USD6,689,785 MS (26,244)

EUR45,000

USD53,765 CITI (1,147)

INR15,797,000

USD234,466 CITI (387)

INR2,328,973,000

USD34,522,227 MS (11,619)

KRW672,336,000

USD624,706 CITI (1,571)

MXN2,569,000

USD133,358 CITI (4,621)

MXN230,497,000

USD11,685,941 MS (135,325)

RUB743,233,000

USD11,931,819 MS (28,916)

TRY715,000

USD172,939 CITI (15,384)

TRY15,249,000

USD3,406,585 MS (46,359)

TWD30,357,000

USD1,024,935 CITI (11,829)

USD90,110,594

HKD706,690,000 CITI (523)

USD107,897

INR7,394,000 CITI (1,667)

USD524,098

RUB33,149,000 CITI (6,784)

USD11,344,676

RUB712,474,000 CS (65,621)

USD10,500

TRY48,000 CITI (77)

ZAR3,705,000

USD294,961 CITI (4,031)

ZAR336,028,000

USD26,706,167 MS (320,106)

INR59,444,000

USD878,167 MS (246)

21



07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

Net unrealized appreciation

Investment CompaniesMoney Market Funds


iShares® Currency Hedged MSCI Emerging Markets ETF Schedule of Investments (unaudited) (continued)

May 31, 2018




KRW424,686,000

USD393,957 MS $ (529)

TWD2,146,000

USD71,697 MS (4)

USD1,654,445

BRL6,213,000 MS (9,009)

USD395,423

CLP249,483,000 MS (613)

USD8,579,216

EUR7,352,000 MS (36,670)

USD95,844,398

HKD751,241,000 MS (21,912)

USD36,278,728

INR2,456,566,000 MS (1,969)

USD2,850,050

KRW3,076,552,000 MS (61)

USD215,897

MXN4,339,000 MS (482)

USD699,853

RUB43,853,000 MS (1,660)

USD146,852

TRY675,000 MS (244)

USD67,915,432

TWD2,036,414,000 MS (116,973)

USD1,002,376

ZAR12,814,000 MS (111)

ZAR11,933,000

USD938,385 MS (4,822)

(1,005,333)

$5,855,360


The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of May 31, 2018. The breakdown of the Fund'sinvestments into major categories is disclosed in the Schedule of Investments above.


Investments

Assets

$412,583,304 $ — $ — $412,583,304 61,999,774 — — 61,999,774

$474,583,078

$ —

$ —

$474,583,078


Assets

$ —

$ 6,860,693

$ —

$ 6,860,693

Liabilities



Forward Foreign Currency Exchange Contracts — (1,005,333) — (1,005,333)

$

—

$ 5,855,360

$—

$ 5,855,360


22

CITICSMSUBS

BRLCLPEURHKDINR

Counterparty AbbreviationsCitibank N.A.Credit Suisse Securities (USA) LLCMorgan Stanley and Co. International PLCUBS AG

Currency AbbreviationsBrazilian RealChilean PesoEuroHong Kong DollarIndian Rupee

KRWMXNRUBTRYTWDUSDZAR

South Korean WonMexican PesoNew Russian RubleTurkish LiraNew Taiwan DollarUnited States DollarSouth African Rand



BlackRock Cash Funds: Treasury, SL AgencySharesiShares Edge MSCI Min Vol Emerging MarketsETF

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

iShares® Edge MSCI Min Vol EM Currency Hedged ETF Schedule of Investments (unaudited)

May 31, 2018



Affiliated Issuer


Shares Purchased

Shares Sold


Value at 05/31/18

Income

Net



3,008 2,167 (a) — 5,175$

5,175

$41

$—

$—

112,856 74,921 (28,937) 158,840 9,671,768

134,073

275,456

7,790

$9,676,943

$134,114

$275,456

$7,790

(a) Net of purchases and sales.


Forward foreign currency exchange contracts outstanding as of May 31, 2018 were as follows:

CurrencyPurchased Currency Sold Counterparty Settlement Date


BRL495,000

USD131,890 UBS

$990

EUR69,000

USD80,219 UBS 461

HKD16,111,000

USD2,053,837 BNP 502

PLN796,000

USD214,558 BNP 886

TWD85,151,000

USD2,833,738 BNP 8,011

USD143,692

BRL499,000 CITI 9,738

USD14,916

CLP9,127,000 BNP 432

iShares Edge MSCI Min Vol Emerging Markets ETF(a)


BlackRock Cash Funds: Treasury, SL Agency Shares,1.64%(a)(b)

Total Short-Term Investments — 0.1%(Cost: $5,175)




Investment CompaniesExchange-Traded Funds — 100.0%

158,840 $ 9,671,768


5,175 5,175

5,175

9,676,943

(5,423)

$ 9,671,520

(a) Affiliate of the Fund.(b) Annualized 7-day yield as of period-end.



06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

USD413,349

CLP248,865,000 CITI 18,433

USD76,197

EUR63,000 CS 2,533

USD6,056

EUR5,000 MS 209

USD1,212

EUR1,000 SSB 43

USD66,442

HKD521,000 MS 9

USD77,919

INR5,204,000 JPM 807

USD726,919

INR48,731,000 UBS 4,826

USD1,686,690

KRW1,802,667,000 CITI 15,941

23



06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

06/07/18

06/07/18

06/07/18

06/07/18

iShares® Edge MSCI Min Vol EM Currency Hedged ETF Schedule of Investments (unaudited) (continued)

May 31, 2018




USD15,394

KRW16,455,000 JPM $ 143

USD138,170

MXN2,610,000 CS 7,378

USD13,501

MXN255,000 MS 723

USD216,786

PLN757,000 JPM 11,897

USD12,276

PLN43,000 MS 638

USD2,927,705

TWD86,420,000 JPM 43,605

USD12,517

ZAR157,000 MS 189

USD140,542

ZAR1,753,000 NSI 2,890

BRL70,000

USD18,723 BNP 19

CLP8,253,000

USD13,076 BNP 25

EUR8,000

USD9,361 MS 14

KRW7,527,000

USD6,966 MS 7

MXN175,000

USD8,697 CITI 30

PLN30,000

USD8,114 BNP 11

TWD452,000

USD15,099 CITI 1

USD408,978

CLP256,887,000 CITI 1,188

USD1,679,847

KRW1,810,640,000 BNP 2,474

USD143,657

MXN2,852,000 UBS 1,432

USD224

RUB14,000 BNP —

USD40,635

TWD1,216,000 BNP 11

USD392

ZAR5,000 BNP 1

USD150,949

ZAR1,904,000 BOA 1,992

138,489

BRL4,000

USD1,143 UBS (69)

CLP256,887,000

USD408,821 CITI (1,176)

CLP1,105,000

USD1,801 UBS (48)

INR53,277,000

USD789,643 CITI (187)



06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

06/07/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

INR658,000

USD9,860 UBS (110)

KRW1,809,371,000

USD1,677,192 BNP (229)

KRW9,751,000

USD9,125 UBS (87)

MXN13,000

USD688 CITI (37)

MXN2,852,000

USD144,350 UBS (1,431)

PLN4,000

USD1,142 JPM (59)

RUB1,326,000

USD21,276 MS (40)

TWD968,000

USD32,774 JPM (468)

TWD301,000

USD10,183 UBS (138)

USD1,987,888

HKD15,590,000 CITI (17)

USD17,607

RUB1,103,000 BNP (57)

USD3,318

RUB210,000 MS (46)

USD205

RUB13,000 UBS (3)

ZAR1,904,000

USD151,511 BOA (2,002)

ZAR6,000

USD479 JPM (7)

INR179,000

USD2,644 BNP —

USD2,922

BRL11,000 JPM (24)

USD131,518

BRL495,000 UBS (1,012)

USD5,605

CLP3,543,000 CITI (20)

USD2,340

EUR2,000 CITI (4)

USD80,402

EUR69,000 UBS (460)

USD2,138,108

HKD16,758,000 BNP (390)

24



07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

07/05/18

Net unrealized appreciation

Investment CompaniesMoney Market Funds



iShares® Edge MSCI Min Vol EM Currency Hedged ETF Schedule of Investments (unaudited) (continued)

May 31, 2018




USD10,207

HKD80,000 MS $ (1)

USD786,641

INR53,277,000 CITI (200)

USD10,618

INR719,000 MS (1)

USD2,090

MXN42,000 DB (5)

USD214,689

PLN796,000 BNP (885)

USD3,247

PLN12,000 CITI (3)

USD21,446

RUB1,341,000 MS (6)

USD2,837,043

TWD85,151,000 BNP (7,677)

ZAR101,000

USD7,943 BNP (41)

(16,940)

$121,549




Investments

Assets

$9,671,768 $ — $ — $9,671,768 5,175 — — 5,175

$9,676,943 $ — $ — $9,676,943


Assets

$ —

$ 138,489

$ —

$ 138,489

Liabilities

— (16,940) — (16,940)

$

—

$ 121,549

$—

$ 121,549


BNPBOACITI

Counterparty AbbreviationsBNP Paribas SABank of America N.A.Citibank N.A.

MXNPLNRUBTWD

Mexican PesoPolish ZlotyNew Russian RubleNew Taiwan Dollar



25

CSDBJPMMSNSISSBUBS

BRLCLPEURHKDINRKRW

Credit Suisse Securities (USA) LLCDeutsche Bank AG LondonJPMorgan Chase Bank N.A.Morgan Stanley and Co. International PLCNomura Securities International Inc.State Street Bank and Trust Co.UBS AG

Currency AbbreviationsBrazilian RealChilean PesoEuroHong Kong DollarIndian RupeeSouth Korean Won

USDZAR

United States DollarSouth African Rand



iShares® Edge MSCI Min Vol Emerging Markets ETF Consolidated Schedule of Investments (unaudited)

May 31, 2018


Ambev SA

Cielo SA

Equatorial Energia SARaia Drogasil SA

Aguas Andinas SA, Class ABanco de ChileBanco de Credito e Inversiones SACia. Cervecerias Unidas SAColbun SAEnel Americas SASACI Falabella

3SBio Inc.(a)(b)

51job Inc., ADR(b)

AAC Technologies Holdings Inc.Agricultural Bank of China Ltd., Class HAlibaba Group Holding Ltd., ADR(b)

ANTA Sports Products Ltd.Autohome Inc., ADRBaidu Inc., ADR(b)

Bank of Beijing Co. Ltd., Class ABank of China Ltd., Class HBank of Communications Co. Ltd., Class ABank of Communications Co. Ltd., Class HBeijing Capital International Airport Co. Ltd., ClassHBOC Aviation Ltd.(a)

BOE Technology Group Co. Ltd., Class ACAR Inc.(b)

China CITIC Bank Corp. Ltd., Class HChina Construction Bank Corp., Class HChina Everbright Bank Co. Ltd., Class HChina First Capital Group Ltd.(b)

China Gas Holdings Ltd.China Huishan Dairy Holdings Co. Ltd.(b)(c)

China Life Insurance Co. Ltd., Class HChina Medical System Holdings Ltd.China Mengniu Dairy Co. Ltd.China Merchants Port Holdings Co. Ltd.China Minsheng Banking Corp. Ltd., Class AChina Mobile Ltd.China Pacific Insurance Group Co. Ltd., Class AChina Petroleum & Chemical Corp., Class HChina Railway Signal & Communication Corp. Ltd.,Class H(a)

China Reinsurance Group Corp., Class HChina Resources Beer Holdings Co. Ltd.China Resources Gas Group Ltd.



4,851,000$

25,648,471

1,833,116

8,343,421

1,309,000

21,367,627 637,600 10,661,337

66,020,856Chile — 3.3%

44,486,750

25,807,548417,076,224 64,674,497

100,100 7,040,826183,296 2,331,386

18,864,500 4,250,34720,034,630 3,870,7644,738,580 44,307,465

152,282,833China — 28.0%

1,925,000 5,509,36049,280 5,243,392

1,384,500 20,844,76373,150,000 37,861,209

319,550 63,274,0962,310,000 13,310,811

49,280 5,554,842174,020 42,210,291

2,926,000 3,024,00694,710,000 49,503,2605,081,940 4,776,1335,494,000 4,349,450

6,376,000 9,428,887600,000 3,725,069

4,312,000 2,773,48811,550,000 12,927,97818,277,000 12,418,9895,390,000 5,442,119

17,710,000 8,827,7386,160,000 6,172,4472,002,000 8,307,478

33,013,520 421,594,000 4,450,2727,970,000 19,203,2284,620,000 16,785,7581,132,000 2,583,1732,232,989 2,670,3356,774,500 60,454,606

615,932 3,199,16046,236,000 45,209,503

23,870,000 18,653,78787,010,000 19,522,5237,970,000 38,711,2692,382,000 9,049,241

COSCO SHIPPING Energy Transportation Co.Ltd., Class H

COSCO SHIPPING Ports Ltd.

CSPC Pharmaceutical Group Ltd.

Dali Foods Group Co. Ltd.(a)

Daqin Railway Co. Ltd., Class A

Dongfeng Motor Group Co. Ltd., Class H

ENN Energy Holdings Ltd.

Fang Holdings Ltd., ADR(b)

Focus Media Information Technology Co. Ltd.,Class AFullshare Holdings Ltd.(d)

Fuyao Glass Industry Group Co. Ltd., Class H(a)

Guangdong Investment Ltd.Hangzhou Hikvision Digital Technology Co. Ltd.,Class AHengan International Group Co. Ltd.Huadian Power International Corp. Ltd., Class HHuaneng Power International Inc., Class HIndustrial & Commercial Bank of China Ltd., ClassHIndustrial Bank Co. Ltd., Class AJiangsu Expressway Co. Ltd., Class HJiangsu Hengrui Medicine Co. Ltd., Class AKangmei Pharmaceutical Co. Ltd., Class AKingboard Chemical Holdings Ltd.Kweichow Moutai Co. Ltd., Class ALenovo Group Ltd.(d)

NetEase Inc., ADRNew Oriental Education & Technology Group Inc.,ADRPetroChina Co. Ltd., Class HPing An Insurance Group Co. of China Ltd., ClassHSemiconductor Manufacturing International Corp.(b)(d)

Shandong Weigao Group Medical Polymer Co.Ltd., Class HShanghai Lujiazui Finance & Trade ZoneDevelopment Co. Ltd., Class BShanghai Pharmaceuticals Holding Co. Ltd., ClassHShanghai Pudong Development Bank Co. Ltd.,Class AShenzhen International Holdings Ltd.Shenzhou International Group Holdings Ltd.Sihuan Pharmaceutical Holdings Group Ltd.SINA Corp./China(b)

Sino Biopharmaceutical Ltd.Sinopec Shanghai Petrochemical Co. Ltd., Class HSinopharm Group Co. Ltd., Class H


China (continued)

6,160,000$

3,486,726

14,346,000

13,808,035

9,240,000

28,918,621

3,080,000

2,375,528

2,078,969

2,726,325

3,080,000

3,514,211

770,000

7,926,608

406,560

2,061,259

1,308,996 2,552,41420,565,000 9,700,286

956,400 3,541,92933,474,000 56,414,816

1,154,978 7,059,2062,391,000 22,769,5426,160,000 2,834,928

32,340,000 24,984,275

34,650,000 28,712,4802,694,929 6,702,139

20,722,000 31,277,892384,988 4,575,656692,934 2,894,865797,000 3,170,05719,542 2,291,577

60,060,000 31,851,71199,330 22,679,026

167,860 16,697,03452,666,000 43,574,172

770,000 7,548,683

4,235,000 5,539,300

15,940,000 13,716,591

11,636,053 17,337,719

3,311,000 10,235,876

3,772,942 6,214,1671,925,000 4,211,1642,310,000 27,033,904

16,940,000 4,383,92925,410 2,307,736

3,080,000 7,790,16213,860,000 10,230,4771,540,000 6,841,914



26

China Resources Pharmaceutical Group Ltd.(a)

China Resources Power Holdings Co. Ltd.China Telecom Corp. Ltd., Class HChina Unicom Hong Kong Ltd.China Yangtze Power Co. Ltd., Class AChong Sing Holdings FinTech Group Ltd.(b)

CNOOC Ltd.

8,310,500 12,755,8013,194,000 6,539,350

40,040,000 18,682,2543,188,000 4,332,4111,924,939 5,141,826

101,896,000 13,509,6651,594,000 2,682,356

Sun Art Retail Group Ltd.Sunny Optical Technology Group Co. Ltd.TAL Education Group, Class A, ADR(b)

Tencent Holdings Ltd.TravelSky Technology Ltd., Class HTsingtao Brewery Co. Ltd., Class HWant Want China Holdings Ltd.Weibo Corp., ADR(b)

Yum China Holdings Inc.Zhaojin Mining Industry Co. Ltd., Class HZTE Corp., Class H(b)(c)

Grupo Argos SA/Colombia

5,005,000 5,895,629385,000 7,833,354195,580 8,304,327

1,232,000 62,698,2405,390,000 15,769,7772,036,000 12,899,9573,985,000 3,952,410

22,330 2,275,650796,950 31,320,135

16,940,000 14,145,1911,746,800 4,231,077

1,311,441,053Colombia — 0.6%

283,360 1,905,416



iShares® Edge MSCI Min Vol Emerging Markets ETF Consolidated Schedule of Investments (unaudited) (continued)

May 31, 2018


Interconexion Electrica SA ESP

CEZ AS

Komercni Banka AS

Moneta Money Bank AS(a)

O2 Czech Republic AS

Commercial International Bank Egypt SAE

Hellenic Telecommunications Organization SAJUMBO SAOPAP SATitan Cement Co. SA


Asian Paints Ltd.Britannia Industries Ltd.Cadila Healthcare Ltd.(b)

Cipla Ltd./IndiaCoal India Ltd.Dabur India Ltd.HCL Technologies Ltd.Hindustan Unilever Ltd.Housing Development Finance Corp. Ltd.Infosys Ltd.InterGlobe Aviation Ltd.(a)

ITC Ltd.Lupin Ltd.Marico Ltd.Maruti Suzuki India Ltd.Nestle India Ltd.Pidilite Industries Ltd.Power Grid Corp. of India Ltd.Reliance Industries Ltd.Sun Pharmaceutical Industries Ltd.Tata Consultancy Services Ltd.Tech Mahindra Ltd.Titan Co. Ltd.Vakrangee Ltd.Wipro Ltd.

Bank Central Asia Tbk PT


Colombia (continued)

4,908,750$

24,067,791


129,360

3,231,470

268,973

10,884,278

859,320

2,999,440 606,760 7,681,444

24,796,632Egypt — 0.4%

3,619,770 17,039,923

Greece — 0.5%339,570 4,062,894220,220 3,532,042364,980 3,919,578487,410 11,948,025

23,462,539Hungary — 0.7%

1,346,730 12,677,20944,660 1,598,104

1,067,220 20,848,171

35,123,484India — 8.3%

1,544,620 29,862,38654,670 4,799,205

429,660 2,300,391327,250 2,544,968589,820 2,589,326

6,624,310 37,626,0222,518,670 33,977,2721,126,510 26,900,523

316,470 8,596,1473,377,990 61,660,550

129,580 2,341,206642,180 2,585,088208,670 2,382,083

3,270,960 15,600,46617,710 2,240,48935,420 5,067,161

168,630 2,892,6922,179,870 6,765,810

664,510 9,072,668730,730 5,201,440

2,115,960 54,591,8152,055,130 21,694,096

595,980 7,949,3441,712,273 827,1799,663,500 37,504,103

387,572,430Indonesia — 4.7%

44,275,000 72,331,234

Telekomunikasi Indonesia Persero Tbk PTUnilever Indonesia Tbk PT

DiGi.Com Bhd(d)

Fraser & Neave Holdings BhdHAP Seng Consolidated BhdHong Leong Bank BhdIHH Healthcare Bhd(d)

Kuala Lumpur Kepong BhdMalayan Banking BhdMaxis Bhd(d)

My EG Services BhdPetronas Chemicals Group BhdPetronas Dagangan BhdPetronas Gas BhdPublic Bank BhdTelekom Malaysia Bhd(d)

Tenaga Nasional Bhd(d)

Westports Holdings Bhd

Arca Continental SAB de CVCoca-Cola Femsa SAB de CV, Series L, NVSGruma SAB de CV, Series BInfraestructura Energetica Nova SAB de CVWal-Mart de Mexico SAB de CV

Habib Bank Ltd.Lucky Cement Ltd.MCB Bank Ltd.

Credicorp Ltd.

Aboitiz Equity Ventures Inc.Aboitiz Power Corp.Bank of the Philippine IslandsBDO Unibank Inc.Jollibee Foods Corp.Manila Electric Co.Metropolitan Bank & Trust Co.Security Bank Corp.Universal Robina Corp.

Bank Polska Kasa Opieki SACD Projekt SACyfrowy Polsat SA

Commercial Bank PQSC (The)


Indonesia (continued)118,503,000 $ 30,020,192 11,242,000 36,893,501

218,498,099Malaysia — 6.9%

3,746,400 4,160,575 1,078,000 10,243,709 3,031,800 7,465,236 8,162,000 39,333,45735,363,700 53,312,111

616,000 3,853,86922,792,000 55,319,2768,547,000 12,433,952

27,489,000 6,147,0387,084,000 14,328,1911,195,500 7,521,4373,478,300 15,363,948

11,242,080 67,395,9873,850,000 3,550,1265,005,000 18,108,5433,430,300 2,973,501

321,510,956Mexico — 1.2%

2,310,000 13,814,475634,900 3,707,739739,200 7,725,394

1,753,400 7,301,8919,163,000 22,920,778

55,470,277Pakistan — 0.2%

1,436,600 2,127,712518,050 2,448,418

3,104,500 5,484,343

10,060,473Peru — 1.2%

251,020 55,580,848

Philippines — 2.8%12,239,960 13,466,50725,410,000 19,008,34713,437,028 24,298,19211,868,943 29,482,8654,589,200 23,935,069

685,300 4,210,7694,407,482 6,661,2881,523,920 5,656,4492,571,800 6,266,056

132,985,542Poland — 0.4%

442,151 13,361,03372,380 2,879,745

593,670 3,995,509

20,236,287Qatar — 2.2%

925,540 9,565,814



27

Bank Mandiri Persero Tbk PTBank Rakyat Indonesia Persero Tbk PTGudang Garam Tbk PTHanjaya Mandala Sampoerna Tbk PTIndofood CBP Sukses Makmur Tbk PTIndofood Sukses Makmur Tbk PTJasa Marga Persero Tbk PTKalbe Farma Tbk PT

13,013,000 6,602,49438,423,000 8,516,9371,912,800 9,429,781

75,845,000 20,687,48111,704,000 7,328,16116,371,700 8,336,0767,238,095 2,318,066

162,624,000 16,034,176

Doha Bank QPSCMasraf Al Rayan QSCQatar Electricity & Water Co. QSCQatar Islamic Bank SAQ

552,885 3,943,2321,218,537 11,166,169

533,610 27,757,946841,295 26,440,042




May 31, 2018


Qatar National Bank QPSC

Rosneft Oil Co. PJSCRosneft Oil Co. PJSC, GDR, NVS

AngloGold Ashanti Ltd.Bidvest Group Ltd. (The)Fortress REIT Ltd., Series AGold Fields Ltd.Sappi Ltd.SPAR Group Ltd. (The)Tiger Brands Ltd.Vodacom Group Ltd.

Celltrion Inc.(b)(d)

Cheil Worldwide Inc.CJ CheilJedang Corp.CJ Logistics Corp.(b)(d)

Coway Co. Ltd.DB Insurance Co. Ltd.E-MART Inc.GS Retail Co. Ltd.(d)

Hanssem Co. Ltd.Hanwha Life Insurance Co. Ltd.Hyundai Glovis Co. Ltd.Hyundai Marine & Fire Insurance Co. Ltd.Hyundai Mobis Co. Ltd.Kakao Corp.Kangwon Land Inc.Kia Motors Corp.Korea Electric Power Corp.Korea Gas Corp.(b)

KT Corp.KT&G Corp.LG Display Co. Ltd.Lotte Chemical Corp.Lotte Corp.(b)

Medy-Tox Inc.NAVER Corp.NCSoft Corp.S-1 Corp.Samsung Biologics Co. Ltd.(a)(b)(d)

Samsung Electro-Mechanics Co. Ltd.Samsung Electronics Co. Ltd.Samsung Fire & Marine Insurance Co. Ltd.Samsung Life Insurance Co. Ltd.Samsung SDI Co. Ltd.SK Hynix Inc.


Qatar (continued)

516,670$

22,437,836

101,311,039Russia — 0.2%

371,300

2,295,325 977,900 5,965,190

8,260,515South Africa — 1.3%

308,770

2,632,530376,809 6,009,903

11,976,580 15,811,166736,120 2,625,969333,410 2,191,055190,960 2,906,24188,550 2,348,515

2,494,030 28,258,453

62,783,832South Korea — 9.7%

29,050 7,155,040207,130 3,804,60513,860 4,506,63853,130 7,368,55681,620 6,610,164

396,550 21,520,64130,291 7,025,14072,380 2,534,76027,954 2,930,379

588,280 3,039,77044,660 5,572,401

300,300 9,485,79710,780 2,180,10170,840 6,801,744

807,730 20,119,255258,720 7,476,347247,170 7,601,17442,350 2,369,039

262,836 6,583,396431,970 38,470,356153,230 3,155,71810,010 3,421,94449,280 2,678,9813,850 2,691,553

54,163 33,614,77553,463 17,507,713

243,320 19,954,06833,880 13,672,06364,680 8,040,373

939,460 44,186,300105,490 24,514,351289,520 27,664,14041,580 7,733,930

462,770 40,097,146

Chunghwa Telecom Co. Ltd.Compal Electronics Inc.Delta Electronics Inc.E.Sun Financial Holding Co. Ltd.Eva Airways Corp.Far EasTone Telecommunications Co. Ltd.First Financial Holding Co. Ltd.Formosa Petrochemical Corp.Formosa Plastics Corp.Foxconn Technology Co. Ltd.Globalwafers Co. Ltd.Hon Hai Precision Industry Co. Ltd.Hua Nan Financial Holdings Co. Ltd.Innolux Corp.Lite-On Technology Corp.MediaTek Inc.Nanya Technology Corp.Novatek Microelectronics Corp.Phison Electronics Corp.Powertech Technology Inc.President Chain Store Corp.Quanta Computer Inc.Standard Foods Corp.Synnex Technology International Corp.Taiwan Business BankTaiwan Cooperative Financial Holding Co. Ltd.Taiwan Mobile Co. Ltd.Taiwan Semiconductor Manufacturing Co. Ltd.United Microelectronics Corp.WPG Holdings Ltd.

Advanced Info Service PCL, NVDRAirports of Thailand PCL, NVDRBangkok Dusit Medical Services PCL, NVDRBangkok Expressway & Metro PCL, NVDRBTS Group Holdings PCL, NVDRBumrungrad Hospital PCL, NVDRCentral Pattana PCL, NVDRCP ALL PCL, NVDRDelta Electronics Thailand PCL, NVDRElectricity Generating PCL, NVDRGlow Energy PCL, NVDRHome Product Center PCL, NVDRIRPC PCL, NVDRKasikornbank PCL, NVDRKrung Thai Bank PCL, NVDRMinor International PCL, NVDRPTT Global Chemical PCL, NVDRRobinson PCL, NVDRSiam Cement PCL (The), NVDRThai Union Group PCL, NVDR


Taiwan (continued) 18,139,000 $ 65,989,720 5,390,000 3,543,981 2,630,000 9,743,504 26,180,000 18,262,170 7,361,582 3,722,376 20,722,000 52,839,838 65,450,159 44,454,074 3,850,000 15,612,536

2,391,840 8,581,7733,617,331 8,910,069

77,000 1,523,98917,534,125 50,153,51457,750,034 34,501,7988,767,000 3,394,263

16,940,752 22,107,818388,000 4,033,910

3,985,000 13,247,2011,516,000 6,856,065

152,000 1,397,6603,479,000 10,380,7423,021,000 30,954,6253,188,000 5,639,3711,921,476 3,924,848

15,940,000 25,536,77233,110,476 10,111,672

110,880,770 65,318,67915,913,000 58,422,6428,767,000 65,544,382

28,490,000 15,832,2686,376,000 9,257,080

749,362,191Thailand — 7.0%

1,925,000 11,463,34816,863,000 36,108,64342,812,000 35,799,34479,387,000 20,349,27898,175,000 29,768,6003,696,000 22,240,7001,463,000 3,487,144

17,171,000 43,343,4905,929,000 11,954,3762,223,400 16,750,2168,624,000 22,914,661

28,336,000 12,932,34131,262,000 6,449,8031,673,700 10,019,180

32,648,000 17,859,9563,696,000 3,754,9231,694,000 4,726,1492,233,000 4,397,593

539,000 7,514,6618,855,000 4,788,731




28

SK Telecom Co. Ltd.

Advantech Co. Ltd.ASE Industrial Holding Co. Ltd.Asustek Computer Inc.AU Optronics Corp.Chicony Electronics Co. Ltd.

148,610 30,605,705

452,694,063Taiwan — 16.0%

3,307,333 22,408,3772,779,445 7,050,3092,310,000 20,932,363

19,054,000 8,362,7368,806,085 20,809,066

DP World Ltd.Dubai Islamic Bank PJSCEmirates Telecommunications Group Co. PJSC

665,924 14,983,2902,784,986 3,844,0795,700,310 25,140,553



BlackRock Cash Funds: Institutional, SL AgencySharesBlackRock Cash Funds: Treasury, SL AgencyShares



May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



84,571,230 (40,293,336) 44,277,894 $44,286,749

$1,449,707(a)

$(273)

$(6,068)

4,920,351 (4,920,351) — —

82,457

—

—

$44,286,749

$1,532,164

$(273)

$(6,068)


Futures ContractsFutures contracts outstanding as of May 31, 2018 were as follows:

Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)

Long Contracts 282 06/15/18

$15,816 $ (276,907)

Fair Value Measurements

First Abu Dhabi Bank PJSC


Grupo de Inversiones Suramericana SA,Preference Shares, NVS

Transneft PJSC, Preference SharesTotal Preferred Stocks — 0.2%(Cost: $7,196,381)

Dubai Islamic Bank PJSC, NVS (Expires 06/06/18)(b)



United Arab Emirates (continued)

12,694,220$

42,508,176

86,476,098

4,645,566,314Preferred StocksColombia — 0.1%

480,876 5,877,733

Russia — 0.1% 695 1,902,323

7,780,056

RightsUnited Arab Emirates — 0.0%

1,392,638 743,114

743,114

BlackRock Cash Funds: Institutional, SL AgencyShares, 1.98%(e)(f)(g)





Short-Term InvestmentsMoney Market Funds — 0.9%

44,277,894 $ 44,286,749

44,286,749

4,698,376,233

(19,981,744)

$ 4,678,394,489

(a) Security exempt from registration pursuant to Rule 144A under the Securities Actof 1933, as amended. These securities may be resold in transactions exempt fromregistration to qualified institutional investors.

(b) Non-income producing security.(c) Security is valued using significant unobservable inputs and is classified as Level

3 in the fair value hierarchy.(d) All or a portion of this security is on loan.(e) Affiliate of the Fund.(f) Annualized 7-day yield as of period-end.(g) All or a portion of this security was purchased with cash collateral received from

loaned securities.



Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regardingvaluation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.comand on the U.S. Securities and Exchange Commission website at www.sec.gov.

29



Common Stocks

Preferred Stocks

Rights

Money Market Funds

Futures Contracts

ADRGDRNVDRNVS


May 31, 2018

Fair Value Measurements (continued)



Investments

Assets

$4,540,024,156

$ 101,311,039

$ 4,231,119

$4,645,566,314

7,780,056

—

—

7,780,056

—

743,114

—

743,114

44,286,749

—

—

44,286,749

$4,592,090,961

$ 102,054,153

$ 4,231,119

$4,698,376,233


Liabilities

$(276,907)

$—

$—

$(276,907)


Portfolio Abbreviations - EquityAmerican Depositary ReceiptGlobal Depositary ReceiptNon-Voting Depositary ReceiptNon-Voting Shares



30



iShares® Edge MSCI Min Vol Global ETF Schedule of Investments (unaudited)

May 31, 2018


Colruyt SA

Proximus SADPUCB SA

Agnico Eagle Mines Ltd.

Barrick Gold Corp.BCE Inc.Fairfax Financial Holdings Ltd.First Capital Realty Inc.Franco-Nevada Corp.Goldcorp Inc.Intact Financial Corp.RioCan REITRogers Communications Inc., Class B, NVSShaw Communications Inc., Class B, NVSTELUS Corp.Thomson Reuters Corp.

Banco de ChileSACI Falabella

Agricultural Bank of China Ltd., Class HANTA Sports Products Ltd.China Conch Venture Holdings Ltd.China First Capital Group Ltd.(a)

China Huishan Dairy Holdings Co. Ltd.(a)(b)(c)

China Mobile Ltd.China Railway Signal & Communication Corp. Ltd.,Class H(d)

China Reinsurance Group Corp., Class HChina Resources Beer Holdings Co. Ltd.China Resources Pharmaceutical Group Ltd.(d)

China Telecom Corp. Ltd., Class HChina Unicom Hong Kong Ltd.Chong Sing Holdings FinTech Group Ltd.(a)


CSPC Pharmaceutical Group Ltd.Fullshare Holdings Ltd.(c)

Guangdong Investment Ltd.Inner Mongolia Yitai Coal Co. Ltd., Class BJiangsu Expressway Co. Ltd., Class HLenovo Group Ltd.(c)

Shanghai Lujiazui Finance & Trade ZoneDevelopment Co. Ltd., Class BShenzhen International Holdings Ltd.Shenzhou International Group Holdings Ltd.Sinopec Shanghai Petrochemical Co. Ltd., Class HTencent Holdings Ltd.


Common StocksBelgium — 0.4%

83,640$

4,439,370

137,350

3,673,129 55,350 4,361,178

12,473,677Canada — 2.9%

203,770

9,140,746

589,170

7,752,954216,890 9,030,39512,710 7,133,159

135,710 2,199,063270,600 19,072,586362,850 5,183,172205,000 15,495,10594,300 1,711,96885,690 4,019,609

176,300 3,547,202287,000 10,086,594120,540 4,684,259

99,056,812Chile — 0.4%

36,431,780 5,649,344863,460 8,073,669

13,723,013China — 2.7%

5,330,000 2,758,718410,000 2,362,525

1,845,000 6,397,6341,640,000 1,643,3143,106,800 42,255,000 20,123,277

1,640,000 1,281,6186,970,000 1,563,866

820,000 3,982,8412,460,000 3,775,8588,200,000 3,826,0362,460,000 3,343,077

22,604,000 2,996,9031,640,000 1,578,501

820,000 2,566,3711,102,500 520,0374,100,000 6,909,863

600,000 802,2001,836,000 2,771,2684,100,000 2,174,359

1,763,031 2,626,9161,230,000 2,690,770

410,000 4,798,2255,740,000 4,236,864

41,000 2,086,549

Coloplast A/S, Class B

H Lundbeck A/S

Orsted A/S(d)

Pandora A/S

William Demant Holding A/S(a)(c)

Elisa OYJ

Dassault Systemes SE, NVSHermes International, NVS

MAN SETUI AGUniper SE

CK Infrastructure Holdings Ltd.CLP Holdings Ltd.Hang Seng Bank Ltd.(c)

HK Electric Investments & HK Electric InvestmentsLtd.(c)(d)

HKT Trust & HKT Ltd.Hong Kong & China Gas Co. Ltd.Jardine Matheson Holdings Ltd.Jardine Strategic Holdings Ltd.Link REITMTR Corp. Ltd.PCCW Ltd.(c)

Power Assets Holdings Ltd.Yue Yuen Industrial Holdings Ltd.

Asian Paints Ltd.Bajaj Finserv Ltd.Britannia Industries Ltd.Coal India Ltd.Dabur India Ltd.Eicher Motors Ltd.HCL Technologies Ltd.Hero MotoCorp Ltd.Hindustan Unilever Ltd.Infosys Ltd.InterGlobe Aviation Ltd.(d)

Maruti Suzuki India Ltd.Petronet LNG Ltd.Pidilite Industries Ltd.Sun Pharmaceutical Industries Ltd.Tata Consultancy Services Ltd.Wipro Ltd., ADR, NVS(c)


Denmark (continued)

56,990$

5,408,936

103,320

7,276,821

206,230

12,338,450

100,450

7,895,420

153,750

5,589,112

42,400,612Finland — 0.1%

79,540 3,551,399

France — 0.8%58,630 8,222,92026,240 18,647,510

26,870,430Germany — 0.4%

51,660 5,614,182241,080 5,604,25964,370 2,038,523

13,256,964Hong Kong — 3.6%

1,025,000 7,735,7012,255,000 23,687,9711,148,000 28,728,721

4,100,000 3,961,9345,740,000 7,207,7924,510,852 9,753,007

82,000 5,120,08082,000 2,935,600

1,025,000 9,068,5422,255,000 12,692,0386,560,000 3,863,669

820,000 5,702,466615,000 1,901,258

122,358,779India — 2.1%

205,820 3,979,15142,230 3,781,19137,310 3,275,258

934,800 4,103,797517,830 2,941,27013,120 5,984,398

322,122 4,345,47943,633 2,292,070

111,520 2,663,044410,000 7,483,985123,065 2,223,49571,340 9,025,212

799,500 2,602,307154,160 2,644,472216,480 1,540,935132,840 3,427,275

2,301,453 10,586,684



31

Yum China Holdings Inc.

Komercni Banka AS

Chr Hansen Holding A/S

127,920 5,027,256


50,430 2,040,703

Denmark — 1.2%40,590 3,891,873

Bank Central Asia Tbk PTKalbe Farma Tbk PTTelekomunikasi Indonesia Persero Tbk PTUnilever Indonesia Tbk PT

72,900,023Indonesia — 0.7%

8,487,000 13,865,05216,810,000 1,657,40918,614,000 4,715,458

902,000 2,960,144

23,198,063



iShares® Edge MSCI Min Vol Global ETF Schedule of Investments (unaudited) (continued)

May 31, 2018


AIB Group PLC

Kerry Group PLC, Class ARyanair Holdings PLC, ADR, NVS(a)

Azrieli Group Ltd.

Bank Hapoalim BM

Bank Leumi Le-Israel BMCheck Point Software Technologies Ltd.(a)(c)

Mizrahi Tefahot Bank Ltd.Nice Ltd.(a)

Luxottica Group SpASnam SpA

ABC-Mart Inc.Ajinomoto Co. Inc.ANA Holdings Inc.Asahi Group Holdings Ltd.Astellas Pharma Inc.Benesse Holdings Inc.(c)

Canon Inc.Daiichi Sankyo Co. Ltd.Daito Trust Construction Co. Ltd.Daiwa House REIT Investment Corp.Eisai Co. Ltd.FamilyMart UNY Holdings Co. Ltd.(c)

FUJIFILM Holdings Corp.Hamamatsu Photonics KKHankyu Hanshin Holdings Inc.Japan Airlines Co. Ltd.Japan Post Bank Co. Ltd.Japan Prime Realty Investment Corp.Japan Real Estate Investment Corp.Japan Retail Fund Investment Corp.KDDI Corp.Keikyu Corp.(c)

Keyence Corp.Kintetsu Group Holdings Co. Ltd.Kirin Holdings Co. Ltd.Konami Holdings Corp.Kyushu Railway Co.Lawson Inc.LINE Corp.(a)(c)

McDonald's Holdings Co. Japan Ltd.MEIJI Holdings Co. Ltd.Mitsubishi Tanabe Pharma Corp.


Ireland — 0.5%

308,320$

1,682,181

98,810

10,397,981 29,520 3,421,663

15,501,825Isreal — 0.5%

53,710

2,617,062

337,020

2,325,286

397,290

2,476,03129,520 2,874,067

208,280 3,977,69313,530 1,419,040

15,689,179Italy — 0.4%

66,010 4,105,4082,205,390 9,030,824

13,136,232Japan — 12.8%

45,900 2,830,595164,000 3,139,012164,000 6,614,64441,000 2,149,533

1,025,000 15,703,553123,000 4,483,225574,000 19,622,035223,600 7,192,98641,000 6,705,9691,230 2,905,039

51,500 3,733,86341,000 4,264,34791,800 3,533,597

123,000 5,349,30341,000 1,694,418

164,000 6,367,085164,000 2,054,434

1,230 4,477,5651,230 6,464,4482,870 5,214,580

82,000 2,223,121123,000 2,075,19025,000 15,378,06645,900 1,924,382

205,000 5,839,89141,000 1,928,391

211,800 6,754,90882,000 5,351,19041,000 1,490,63596,400 4,862,36882,000 6,996,548

369,000 6,622,946

NTT DOCOMO Inc.

Ono Pharmaceutical Co. Ltd.

Oracle Corp. Japan(a)

Oriental Land Co. Ltd./Japan

Otsuka Corp.

Otsuka Holdings Co. Ltd.

Park24 Co. Ltd.

Recruit Holdings Co. Ltd.Sankyo Co. Ltd.Secom Co. Ltd.Shimadzu Corp.Shimamura Co. Ltd.Shionogi & Co. Ltd.Suntory Beverage & Food Ltd.Taisho Pharmaceutical Holdings Co. Ltd.Takeda Pharmaceutical Co. Ltd.Terumo Corp.(c)

Tobu Railway Co. Ltd.Toho Co. Ltd./TokyoToyo Suisan Kaisha Ltd.Tsuruha Holdings Inc.United Urban Investment Corp.USS Co. Ltd.Yahoo Japan Corp.(c)

Yamada Denki Co. Ltd.(c)

Yamazaki Baking Co. Ltd.(c)

Hong Leong Bank BhdIHH Healthcare Bhd(c)

Malayan Banking BhdMaxis Bhd(c)

Petronas Dagangan BhdPublic Bank Bhd

Koninklijke Ahold Delhaize NVNXP Semiconductors NV(a)

Fisher & Paykel Healthcare Corp. Ltd.Spark New Zealand Ltd.

Cia. de Minas Buenaventura SAA, ADR, NVSCredicorp Ltd.


Japan (continued)

1,312,000$

34,030,245

164,000

4,074,905

45,900

3,502,333

137,700

14,131,851

164,000

6,785,218

205,000

10,224,999

164,000

4,434,921

82,000

2,286,89882,000 3,256,754

205,000 15,319,573123,000 3,402,04341,000 4,196,42041,000 2,156,326

205,000 9,132,49645,900 4,888,057

246,000 10,080,46482,000 4,875,696

287,000 8,915,50582,000 2,852,961

123,000 4,398,31641,000 6,109,7154,510 6,924,092

82,000 1,555,5431,271,000 4,632,666

943,000 4,895,320164,000 3,562,428

438,754,121Malaysia — 0.8%

984,000 4,741,9902,255,000 3,399,4972,214,000 5,373,6782,747,000 3,996,264

328,000 2,063,5981,558,060 9,340,531

28,915,558Netherlands — 0.3%

136,530 3,132,28673,800 8,413,200

11,545,486New Zealand — 0.2%

275,520 2,567,2711,487,070 3,818,854

6,386,125Peru — 0.1%

128,330 1,985,26513,120 2,905,031



32

Nagoya Railroad Co. Ltd.Nippon Building Fund Inc.Nippon Prologis REIT Inc.Nippon Telegraph & Telephone Corp.Nissan Motor Co. Ltd.Nissin Foods Holdings Co. Ltd.(c)

Nitori Holdings Co. Ltd.(c)

Nomura Real Estate Master Fund Inc.Nomura Research Institute Ltd.NTT Data Corp.

287,000 7,391,2841,230 6,905,9782,870 5,996,502

410,000 19,268,811574,000 5,708,56582,000 6,113,48947,200 8,130,5905,740 8,051,691

125,830 6,346,803738,000 8,266,796

Bank of the Philippine IslandsBDO Unibank Inc.Jollibee Foods Corp.

Qatar National Bank QPSC

CapitaLand Commercial TrustCapitaLand Mall TrustOversea-Chinese Banking Corp. Ltd.

4,890,296Philippines — 0.3%

1,324,309 2,394,7493,079,109 7,648,613

352,600 1,838,993

11,882,355Qatar — 0.2%

185,320 8,048,038

Singapore — 1.2%3,649,000 4,665,4383,567,000 5,520,722

410,000 3,844,181




May 31, 2018


SATS Ltd.

Singapore Airlines Ltd.

Singapore Press Holdings Ltd.(c)

Singapore Telecommunications Ltd.StarHub Ltd.

DB Insurance Co. Ltd.KT&G Corp.NAVER Corp.S-1 Corp.Samsung Fire & Marine Insurance Co. Ltd.SK Telecom Co. Ltd.

Amadeus IT Group SA

Chocoladefabriken Lindt & Spruengli AG, RegisteredEMS-Chemie Holding AG, RegisteredGivaudan SA, RegisteredKuehne + Nagel International AG, RegisteredNestle SA, RegisteredNovartis AG, RegisteredPartners Group Holding AGRoche Holding AG, NVSSchindler Holding AG, RegisteredSika AG, BearerSonova Holding AG, RegisteredSwiss Prime Site AG, RegisteredSwisscom AG, Registered

Asustek Computer Inc.Chang Hwa Commercial Bank Ltd.Chicony Electronics Co. Ltd.Chunghwa Telecom Co. Ltd.Compal Electronics Inc.CTBC Financial Holding Co. Ltd.E.Sun Financial Holding Co. Ltd.Far EasTone Telecommunications Co. Ltd.First Financial Holding Co. Ltd.Formosa Petrochemical Corp.Hon Hai Precision Industry Co. Ltd.Hua Nan Financial Holdings Co. Ltd.Innolux Corp.Mega Financial Holding Co. Ltd.Quanta Computer Inc.Synnex Technology International Corp.Taiwan Cooperative Financial Holding Co. Ltd.


Singapore (continued)

1,074,200$

4,144,358

820,000

6,915,848

1,439,500

2,830,674

6,068,000

14,881,334 12,800 18,471

42,821,026South Korea — 0.4%

28,290

1,535,28920,090 1,789,1742,460 1,526,731

28,290 2,319,99313,940 3,239,45413,940 2,870,894

13,281,535Spain — 0.1%

32,390 2,567,220

Switzerland — 4.3%146 11,063,981

11,076 6,945,737820 1,830,841

79,130 11,960,857405,900 30,709,838207,460 15,396,48213,120 9,502,02478,310 16,811,43931,160 6,408,862

441 3,530,33370,930 12,409,68470,930 6,634,13035,260 15,766,754

148,970,962Taiwan — 4.1%

918,000 8,318,5757,380,361 4,323,059

820,956 1,939,9465,755,000 20,936,7022,870,000 1,887,0552,870,000 2,069,0558,200,557 5,720,3962,460,000 6,272,850

14,350,894 9,747,1992,050,000 8,313,1692,870,400 8,210,313

11,070,261 6,613,7435,330,000 2,063,582

14,350,000 12,572,385820,000 1,450,528

2,050,250 3,284,61512,300,454 7,246,066

BTS Group Holdings PCL, NVDR(c)

Bumrungrad Hospital PCL, NVDR

CP ALL PCL, NVDR

Home Product Center PCL, NVDR

IRPC PCL, NVDRKrung Thai Bank PCL, NVDR

Emirates Telecommunications Group Co. PJSCFirst Abu Dhabi Bank PJSC

AstraZeneca PLCCompass Group PLCGlaxoSmithKline PLCKingfisher PLCRandgold Resources Ltd.Royal Mail PLC

Abbott LaboratoriesAccenture PLC, Class AAdobe Systems Inc.(a)

Aetna Inc.AGNC Investment Corp.Alleghany Corp.Allstate Corp. (The)Alphabet Inc., Class C, NVS(a)

Altria Group Inc.Ameren Corp.American Electric Power Co. Inc.American Tower Corp.American Water Works Co. Inc.Amphenol Corp., Class AAnnaly Capital Management Inc.ANSYS Inc.(a)

Aon PLCApple Inc.AramarkArch Capital Group Ltd.(a)

AT&T Inc.Athene Holding Ltd., Class A, NVS(a)

Automatic Data Processing Inc.AutoZone Inc.(a)

AvalonBay Communities Inc.Axis Capital Holdings Ltd.Baxter International Inc.Becton Dickinson and Co.Berkshire Hathaway Inc., Class B(a)



9,266,000$

2,809,634

533,000

3,207,330

1,025,000

2,587,332

6,970,000

3,181,057

3,280,000

676,711 5,166,000 2,826,039


1,177,520 5,193,315801,140 2,682,717

7,876,032United Kingdom — 0.9%

27,470 1,997,986435,830 9,380,489508,810 10,318,218420,250 1,706,69753,300 4,232,725

549,810 3,723,870

31,359,985United States — 55.6%

153,340 9,435,01027,880 4,342,03122,960 5,723,46967,650 11,915,194

579,740 10,910,70720,090 11,462,550

168,510 15,752,3151,230 1,334,538

398,520 22,213,50550,430 2,984,952

110,290 7,494,20614,760 2,042,34184,460 7,022,00479,540 6,914,412

1,618,270 16,878,55675,440 12,281,63263,550 8,888,73918,860 3,524,368

110,700 4,297,374198,850 15,599,782588,760 19,028,723126,280 5,640,928132,430 17,218,54913,530 8,785,300

106,190 17,578,693123,820 7,039,167198,850 14,086,53439,360 8,721,782

100,450 19,239,188



33

Taiwan Mobile Co. Ltd.Taiwan Semiconductor Manufacturing Co. Ltd.United Microelectronics Corp.WPG Holdings Ltd.

Airports of Thailand PCL, NVDRBangkok Dusit Medical Services PCL, NVDRBangkok Expressway & Metro PCL, NVDR

2,460,000 9,031,5902,050,000 15,326,3352,870,000 1,594,8971,640,000 2,381,056

139,303,116Thailand — 0.8%

2,788,000 5,969,9285,863,000 4,902,634

11,398,000 2,921,651

Boston Scientific Corp.(a)

Bristol-Myers Squibb Co.Broadridge Financial Solutions Inc.Campbell Soup Co.CH Robinson Worldwide Inc.Chevron Corp.Chubb Ltd.Church & Dwight Co. Inc.Cigna Corp.Cincinnati Financial Corp.

148,010 4,498,02476,260 4,012,801

121,770 14,058,346117,670 3,958,419143,090 12,448,83018,450 2,293,335

113,980 14,896,046328,000 15,399,60011,070 1,874,92696,760 6,712,241




May 31, 2018


Cintas Corp.

Cisco Systems Inc.

Clorox Co. (The)

CMS Energy Corp.

Coca-Cola Co. (The)

Cognizant Technology Solutions Corp., Class A

Colgate-Palmolive Co.

Comcast Corp., Class ACommScope Holding Co. Inc.(a)

Conagra Brands Inc.Consolidated Edison Inc.Constellation Brands Inc., Class ACooper Companies Inc. (The)Costco Wholesale Corp.Crown Castle International Corp.CVS Health Corp.Danaher Corp.Darden Restaurants Inc.Dell Technologies Inc., Class V(a)

Dollar General Corp.Dominion Energy Inc.Dr Pepper Snapple Group Inc.DTE Energy Co.Duke Energy Corp.eBay Inc.(a)

Ecolab Inc.Edison InternationalEli Lilly & Co.Entergy Corp.Equity ResidentialEssex Property Trust Inc.Estee Lauder Companies Inc. (The), Class AEverest Re Group Ltd.Eversource EnergyExpeditors International of Washington Inc.Exxon Mobil Corp.F5 Networks Inc.(a)

Facebook Inc., Class A(a)

Federal Realty Investment TrustFidelity National Information Services Inc.Fiserv Inc.(a)

FNF GroupGeneral Dynamics Corp.General Mills Inc.Genuine Parts Co.Gilead Sciences Inc.Harris Corp.


United States (continued)

11,480$

2,092,230

183,680

7,844,973

151,290

18,280,371

36,900

1,702,197

584,660

25,140,380

27,060

2,038,971

129,150

8,148,074

343,990

10,725,608134,890 3,954,97557,400 2,127,244

456,330 35,014,20138,540 8,597,5038,610 1,948,529

38,130 7,558,891109,470 11,401,30045,920 2,910,86967,240 6,675,58737,720 3,297,10543,050 3,472,41339,770 3,479,080

254,610 16,343,416196,390 23,429,32747,560 4,871,571

300,120 23,157,25991,840 3,464,20523,780 3,391,26631,160 1,936,906

266,910 22,698,02629,110 2,355,290

119,720 7,660,88312,300 2,940,06920,910 3,124,79042,230 9,513,99770,520 4,025,282

222,630 16,581,482320,210 26,013,86079,950 13,840,14474,620 14,310,62414,350 1,706,072

127,920 13,075,982244,360 17,740,536117,670 4,349,083

8,610 1,736,723102,910 4,352,06435,670 3,238,47925,010 1,685,67488,560 13,325,623

Kimberly-Clark Corp.

Kraft Heinz Co. (The)

L3 Technologies Inc.

Laboratory Corp. of America Holdings(a)

Liberty Broadband Corp., Class C, NVS(a)

Lockheed Martin Corp.

Lowe's Companies Inc.

Markel Corp.(a)(c)

Marsh & McLennan Companies Inc.Mastercard Inc., Class AMcCormick & Co. Inc./MD, NVSMcDonald's Corp.Medtronic PLCMerck & Co. Inc.Microsoft Corp.Monsanto Co.Motorola Solutions Inc.Newmont Mining Corp.NextEra Energy Inc.Northrop Grumman Corp.O'Reilly Automotive Inc.(a)

Occidental Petroleum Corp.Oracle Corp.Palo Alto Networks Inc.(a)

Paychex Inc.PepsiCo Inc.Pfizer Inc.Philip Morris International Inc.Procter & Gamble Co. (The)Progressive Corp. (The)Public Storage(c)

Raytheon Co.Realty Income Corp.(c)

RenaissanceRe Holdings Ltd.Republic Services Inc.Rockwell Collins Inc.Rollins Inc.Ross Stores Inc.Sherwin-Williams Co. (The)Southern Co. (The)Starbucks Corp.Stryker Corp.Synopsys Inc.(a)

Sysco Corp.Tapestry Inc.Texas Instruments Inc.Time Warner Inc.



94,710$

9,551,504

77,490

4,454,125

15,170

3,008,666

77,490

13,993,919

36,900

2,541,303

99,220

31,208,659

20,910

1,986,659

20,910

22,939,943275,110 22,110,59145,510 8,652,361

179,170 18,096,170233,700 37,394,337154,980 13,377,874378,020 22,503,53127,060 2,674,610

232,060 29,578,368221,400 23,765,076309,140 12,034,820138,990 23,045,932129,970 42,532,68219,270 5,191,53188,970 7,491,27461,500 2,873,28033,620 6,995,986

283,720 18,606,358270,600 27,127,650600,240 21,566,62339,360 3,130,694

422,300 30,899,691157,850 9,800,90663,140 13,375,578

152,110 31,867,045100,040 5,332,13259,450 7,298,677

341,120 23,001,722104,140 14,320,29141,820 2,081,38157,810 4,560,0536,560 2,487,880

576,460 25,883,054191,470 10,850,605116,440 20,262,889206,230 18,162,676127,510 8,291,975157,440 6,883,27720,500 2,294,155

201,310 18,955,350



34

HCA Healthcare Inc.Henry Schein Inc.(a)(c)

Hershey Co. (The)Home Depot Inc. (The)Hormel Foods Corp.Humana Inc.Intel Corp.International Business Machines Corp.Intuit Inc.Jack Henry & Associates Inc.JM Smucker Co. (The)Johnson & JohnsonKellogg Co.

17,220 1,776,07182,410 5,702,77256,990 5,131,38048,380 9,025,289

130,380 4,679,33821,320 6,203,69478,720 4,345,34473,390 10,370,74115,990 3,223,584

112,750 14,100,51563,960 6,875,700

369,410 44,188,824223,450 14,387,945

TJX Companies Inc. (The)Travelers Companies Inc. (The)Tyson Foods Inc., Class AUDR Inc.Ulta Salon Cosmetics & Fragrance Inc.(a)

UnitedHealth Group Inc.Universal Health Services Inc., Class BVarian Medical Systems Inc.(a)

VeriSign Inc.(a)

Verizon Communications Inc.Visa Inc., Class AWalmart Inc.Walt Disney Co. (The)

290,690 26,255,121105,370 13,542,15233,620 2,268,341

252,560 9,210,8638,200 2,024,662

85,690 20,694,99218,860 2,168,52325,830 3,044,58231,160 4,064,510

584,250 27,851,197269,370 35,212,046262,400 21,658,49634,850 3,466,530





May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



56,910,361 5,202,383 62,112,744 $62,125,166

$359,631(a)

$(7,037)

$(1,792)

2,465,143 11,048,041 13,513,184 13,513,184

48,416

—

—

$75,638,350

$408,047

$(7,037)

$(1,792)



Waste Management Inc.

WEC Energy Group Inc.

Welltower Inc.

Westar Energy Inc.

Worldpay Inc., Class A(a)

WR Berkley Corp.

Xcel Energy Inc.

XL Group Ltd.Yum! Brands Inc.


Intesa Sanpaolo SpA, Preference Shares, NVSTotal Preferred Stocks — 0.1%(Cost: $3,805,175)




412,460$

34,114,567

316,110

19,962,346

49,200

2,836,380

71,750

4,068,225

64,370

5,115,484

144,320

11,036,150

436,240

19,857,645

91,020

5,058,89263,960 5,201,867

1,909,556,882

3,404,243,614Preferred StocksItaly — 0.1%

1,264,440 3,800,650


62,112,744 62,125,166

BlackRock Cash Funds: Treasury, SL AgencyShares, 1.64%(e)(f)





Money Market Funds (continued)

13,513,184 $ 13,513,184

75,638,350

75,638,350

3,483,682,614

(48,695,351)

$ 3,434,987,263

(a) Non-income producing security.(b) Security is valued using significant unobservable inputs and is classified as Level

3 in the fair value hierarchy.(c) All or a portion of this security is on loan.(d) Security exempt from registration pursuant to Rule 144A under the Securities Act


(e) Affiliate of the Fund.(f) Annualized 7-day yield as of period-end.(g) All or a portion of this security was purchased with cash collateral received from

loaned securities.



MSCI EAFE E-MiniMSCI Emerging Markets E-MiniS&P 500 E-Mini

Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$7,253 $ (26,263)

52 06/15/18 2,916 (44,112)65 06/15/18 8,793 8,163

$ (62,212)

35



Common StocksPreferred StocksMoney Market Funds

Futures Contracts

Futures Contracts

ADRNVDRNVS


May 31, 2018





Investments

Assets

$3,396,195,572 $ 8,048,038 $ 4 $3,404,243,614 3,800,650 — — 3,800,650 75,638,350 — — 75,638,350

$3,475,634,572 $ 8,048,038 $ 4 $3,483,682,614


Assets

$ 8,163

$ —

$ —

$ 8,163

Liabilities

(70,375) — — (70,375)

$

(62,212)

$—

$—

$(62,212)


Portfolio Abbreviations - EquityAmerican Depositary ReceiptNon-Voting Depositary ReceiptNon-Voting Shares



36



iShares® Edge MSCI Multifactor Emerging Markets ETF Schedule of Investments (unaudited)

May 31, 2018


BB Seguridade Participacoes SA

Cia. de Saneamento Basico do Estado de Sao Paulo

EDP - Energias do Brasil SA

Hypera SA

IRB Brasil Resseguros S/A

Lojas Renner SA

M. Dias Branco SAOdontoprev SAPorto Seguro SASul America SA, NVS

Cia. Cervecerias Unidas SA

51job Inc., ADR(a)

AAC Technologies Holdings Inc.Agile Group Holdings Ltd.Alibaba Group Holding Ltd., ADR(a)

Angang Steel Co. Ltd., Class HANTA Sports Products Ltd.Autohome Inc., ADRBOC Aviation Ltd.(b)


China Agri-Industries Holdings Ltd.China Communications Services Corp. Ltd., Class HChina Conch Venture Holdings Ltd.China Everbright Ltd.China Medical System Holdings Ltd.China Reinsurance Group Corp., Class HChina Resources Cement Holdings Ltd.China Travel International Investment Hong Kong Ltd.China Zhongwang Holdings Ltd.Chongqing Rural Commercial Bank Co. Ltd., Class HCOSCO SHIPPING Ports Ltd.CSPC Pharmaceutical Group Ltd.Dongfeng Motor Group Co. Ltd., Class HGeely Automobile Holdings Ltd.Guangzhou Automobile Group Co. Ltd., Class HHaitian International Holdings Ltd.Huaneng Renewables Corp. Ltd., Class HJiangsu Expressway Co. Ltd., Class HKingboard Chemical Holdings Ltd.Kingboard Laminates Holdings Ltd.Kingdee International Software Group Co. Ltd.Lee & Man Paper Manufacturing Ltd.Logan Property Holdings Co. Ltd.Longfor Properties Co. Ltd.Luye Pharma Group Ltd.



352,000$

2,463,211

170,500

1,197,238

159,500

566,209

159,500

1,207,798

49,500

640,939

324,500

2,585,334

50,300

567,286130,626 489,66644,000 502,260

104,578 549,841

10,769,782Chile — 0.2%

45,375 577,136

China — 38.4%11,110 1,182,10455,000 828,069

770,000 1,468,50828,325 5,608,633

550,000 545,502495,000 2,852,31726,730 3,013,00682,500 512,197

330,000 524,1871,100,000 466,9721,138,000 732,635

891,000 3,089,589440,000 967,039605,000 1,457,711

2,475,000 555,318880,000 1,036,594834,000 369,998775,600 420,224

1,210,000 808,297880,000 847,001

2,200,000 6,885,3861,320,000 1,506,091

770,000 2,184,112990,000 1,678,576330,000 936,048

2,200,000 945,163550,000 830,173330,000 1,312,571522,500 692,746880,000 965,917715,000 838,587660,000 992,842687,500 2,059,656165,000 181,109

Shanghai Pharmaceuticals Holding Co. Ltd., Class H

Shenzhen International Holdings Ltd.

Sihuan Pharmaceutical Holdings Group Ltd.

Sino Biopharmaceutical Ltd.

Sino-Ocean Group Holding Ltd.

Sinopec Shanghai Petrochemical Co. Ltd., Class H

Sinotrans Ltd., Class H

Sinotruk Hong Kong Ltd.SSY Group Ltd.Sun Art Retail Group Ltd.Sunny Optical Technology Group Co. Ltd.TAL Education Group, Class A, ADR(a)

Tencent Holdings Ltd.Towngas China Co. Ltd.Uni-President China Holdings Ltd.Yum China Holdings Inc.Yuzhou Properties Co. Ltd.YY Inc., ADR(a)

Zhongsheng Group Holdings Ltd.

Moneta Money Bank AS(b)


Commercial International Bank Egypt SAEEastern Tobacco

MOL Hungarian Oil & Gas PLC

Rural Electrification Corp. Ltd.

Adaro Energy Tbk PTBank Danamon Indonesia Tbk PTBank Negara Indonesia Persero Tbk PTBank Tabungan Negara Persero Tbk PTIndah Kiat Pulp & Paper Corp. Tbk PTUnited Tractors Tbk PT

AirAsia Group Bhd(c)

Alliance Bank Malaysia Bhd(c)

Hartalega Holdings BhdNestle Malaysia BhdPPB Group Bhd(c)

Top Glove Corp. Bhd


China (continued)

330,000$

1,020,187

412,500

902,392

1,815,000

469,707

2,200,000

5,564,401

1,457,500

984,778

1,540,000

1,136,720

880,000

499,226

330,000

466,972660,000 705,927

1,127,500 1,328,136319,000 6,490,49314,740 625,860

181,500 9,236,794330,000 323,936550,000 592,480149,160 5,861,988770,000 541,85621,505 2,505,978

247,500 793,537


244,090 851,99127,142 343,612

1,195,603Egypt — 0.2%

101,970 480,02021,835 215,629

695,649Hungary — 0.2%

66,660 627,492

India — 0.0%100 175

Indonesia — 3.0%7,485,500 1,015,4851,468,500 615,6183,740,000 2,281,1441,908,500 418,9221,278,900 1,721,154

836,000 2,108,802

8,161,125Malaysia — 1.9%

786,500 606,672561,000 597,648605,000 927,26227,500 1,022,613

242,000 1,211,216308,000 793,990

5,159,401



37

New Oriental Education & Technology Group Inc.,ADRNexteer Automotive Group Ltd.Nine Dragons Paper Holdings Ltd.People's Insurance Co. Group of China Ltd. (The),Class HPICC Property & Casualty Co. Ltd., Class HShandong Weigao Group Medical Polymer Co. Ltd.,Class HShanghai Industrial Holdings Ltd.

63,635 6,329,773440,000 725,840770,000 1,225,066

3,520,000 1,664,8332,200,000 3,876,009

880,000 757,252239,000 635,270

Credicorp Ltd.

DMCI Holdings Inc.

Dino Polska SA(a)(b)


Peru — 1.2%

14,465 3,202,840

Philippines — 0.2%2,436,500 500,884

Poland — 0.5%21,725 654,14326,950 607,654

1,261,797



iShares® Edge MSCI Multifactor Emerging Markets ETF Schedule of Investments (unaudited) (continued)

May 31, 2018


Alrosa PJSC

Inter RAO UES PJSC

Mobile TeleSystems PJSC, ADR, NVS

RusHydro PJSCTatneft PJSC

Bidvest Group Ltd. (The)Capitec Bank Holdings Ltd.Coronation Fund Managers Ltd.Exxaro Resources Ltd.Investec Ltd.Kumba Iron Ore Ltd.Liberty Holdings Ltd.Mondi Ltd.Mr. Price Group Ltd.Netcare Ltd.RMB Holdings Ltd.SPAR Group Ltd. (The)Telkom SA SOC Ltd.

BNK Financial Group Inc.DB Insurance Co. Ltd.DGB Financial Group Inc.E-MART Inc.Hana Financial Group Inc.Hankook Tire Co. Ltd.Hanwha Chemical Corp.Hanwha Corp.Hanwha Life Insurance Co. Ltd.Hyosung Corp.Hyundai Department Store Co. Ltd.Hyundai Marine & Fire Insurance Co. Ltd.Hyundai Steel Co.ING Life Insurance Korea Ltd.(b)

KT&G Corp.Kumho Petrochemical Co. Ltd.LG Corp.LG Display Co. Ltd.Lotte Chemical Corp.Samsung Electronics Co. Ltd.SK Hynix Inc.SK Telecom Co. Ltd.Yuhan Corp.

Airtac International GroupAU Optronics Corp.


Russia — 2.9%

84,000$

119,004

12,045,000

788,474

35,475

339,850

46,200,000

536,588 571,905 6,115,674

7,899,590South Africa — 5.8%

163,900

2,614,11819,525 1,348,080

118,195 583,369124,575 1,232,963115,775 842,19130,800 705,66462,150 596,08061,435 1,701,262

124,080 2,459,067469,315 1,097,23098,285 563,63596,937 1,475,295

144,045 589,601

15,808,555South Korea — 17.1%

128,755 1,138,30424,255 1,316,31187,175 837,01610,065 2,334,292

144,210 5,565,31938,115 1,515,12454,175 1,299,15521,780 727,381

134,255 693,72510,244 1,273,4326,655 694,547

30,965 978,11441,415 2,374,36514,960 557,9032,970 264,5028,690 846,468

29,370 1,999,868115,720 2,383,213

7,975 2,726,274140,525 6,609,41487,010 7,539,0649,625 1,982,2353,795 837,896

46,493,922Taiwan — 13.5%

55,000 945,3804,083,000 1,792,015

Nanya Technology Corp.

Novatek Microelectronics Corp.

Phison Electronics Corp.

Powertech Technology Inc.

Realtek Semiconductor Corp.

Ruentex Industries Ltd.

Shin Kong Financial Holding Co. Ltd.

Synnex Technology International Corp.Taiwan Business BankTaiwan Semiconductor Manufacturing Co. Ltd.Teco Electric and Machinery Co. Ltd.United Microelectronics Corp.Win Semiconductors Corp.Wistron Corp.WPG Holdings Ltd.Yageo Corp.

Central Pattana PCL, NVDRRobinson PCL, NVDR(c)

TMB Bank PCL, NVDR

Aselsan Elektronik Sanayi Ve Ticaret ASTurkiye Sise ve Cam Fabrikalari ASTurkiye Vakiflar Bankasi TAO, Class DYapi ve Kredi Bankasi AS(a)

Aldar Properties PJSCDAMAC Properties Dubai Co. PJSCDubai Investments PJSCDubai Islamic Bank PJSCEmaar Properties PJSC

Total Common Stocks — 92.4%(Cost: $239,479,119)

iShares MSCI India ETF(d)


Itausa-Investimentos Itau SA, Preference Shares,NVS


Taiwan (continued)

330,000$

1,097,008

275,000

1,243,679

55,000

505,732

165,000

492,332

220,000

840,746

275,000

562,639

3,685,000

1,475,894

605,000

969,2441,155,504 352,881

550,000 4,111,944825,000 664,978

4,840,000 2,689,652165,000 1,340,971

1,002,906 754,8201,063,000 1,543,331

110,000 3,491,481

36,823,233Thailand — 0.9%

693,000 1,651,805269,500 530,744

2,541,000 196,989

2,379,538Turkey — 0.5%

115,128 598,799229,968 201,715255,584 308,113271,562 240,593


2,067,120 1,153,668962,940 626,554

1,026,575 575,731526,706 727,005886,105 1,254,440

4,337,398

251,803,629Investment CompaniesIndia — 3.0%

240,930 8,107,295

8,107,295Preferred StocksBrazil — 2.2%

1,965,035 5,925,630



38

Chicony Electronics Co. Ltd.China Life Insurance Co. Ltd./TaiwanFeng TAY Enterprise Co. Ltd.General Interface Solution Holding Ltd.Hiwin Technologies Corp.Innolux Corp.Inventec Corp.Lite-On Technology Corp.Macronix International(a)

Micro-Star International Co. Ltd.

275,621 651,3011,624,320 1,705,017

165,880 736,34655,000 351,534

110,000 1,560,3364,455,000 1,724,8131,265,000 1,023,8561,045,718 1,364,670

880,000 1,453,866330,000 1,376,767

Surgutneftegas OJSC, Preference Shares, NVS

Samsung Electronics Co. Ltd., Preference Shares,NVSTotal Preferred Stocks — 4.2%(Cost: $11,778,440)

Russia — 0.1%407,024 199,047

South Korea — 1.9%

143,055 5,374,764

11,499,441



BlackRock Cash Funds: Institutional,SL Agency SharesBlackRock Cash Funds: Treasury,SL Agency SharesiShares MSCI India ETF



May 31, 2018



Affiliated Issuer


Shares Purchased

Shares Sold


Value at 05/31/18

Income

Net



2,360,187 — (1,182,967) (a) 1,177,220$

1,177,455

$8,863(b)

$(293)

$ 56

184,901 3,120,021 (a) — 3,304,922 3,304,922

2,962

—

—

181,962 239,634 (180,666) 240,930 8,107,295 36,667 521,869 (780,822)

$12,589,672

$48,492

$521,576

$(780,766)



Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$1,514 $ (38,893)

Fair Value MeasurementsVarious inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regardingvaluation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com

Dubai Islamic Bank PJSC, NVS (Expires 06/06/18)(a)


BlackRock Cash Funds: Institutional, SL AgencyShares, 1.98%(d)(e)(f)

BlackRock Cash Funds: Treasury, SL Agency Shares,1.64%(d)(e)





RightsUnited Arab Emirates — 0.0%

165,194 $ 88,148

88,148Short-Term InvestmentsMoney Market Funds — 1.7%

1,177,220 1,177,455

3,304,922 3,304,922

4,482,377

4,482,377

275,980,890(3,426,230)

$ 272,554,660



(c) All or a portion of this security is on loan.(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 cash collateral received from

loaned securities.



and on the U.S. Securities and Exchange Commission website at www.sec.gov.

39



Common Stocks

Investment Companies

Preferred Stocks

Rights

Money Market Funds

Futures Contracts

ADRNVDRNVS


May 31, 2018




Investments

Assets

$250,530,197

$ 1,273,432

$ —

$251,803,629

8,107,295

—

—

8,107,295

11,499,441

—

—

11,499,441

—

88,148

—

88,148

4,482,377

—

—

4,482,377

$274,619,310

$ 1,361,580

$ —

$275,980,890


Liabilities

$(38,893)

$—

$—

$(38,893)





40



iShares® MSCI Australia ETFSchedule of Investments (unaudited)

May 31, 2018


Australia & New Zealand Banking Group Ltd.

Bank of Queensland Ltd.

Bendigo & Adelaide Bank Ltd.

Commonwealth Bank of Australia

National Australia Bank Ltd.Westpac Banking Corp.

Coca-Cola Amatil Ltd.Treasury Wine Estates Ltd.

CSL Ltd.

ASX Ltd.Macquarie Group Ltd.

Incitec Pivot Ltd.Orica Ltd.

Brambles Ltd.

CIMIC Group Ltd.

Boral Ltd.James Hardie Industries PLC

Amcor Ltd./Australia

AMP Ltd.Challenger Ltd./Australia

Telstra Corp. Ltd.TPG Telecom Ltd.(a)

AusNet Services

BGP Holdings PLC(b)(c)

DexusGoodman GroupGPT Group (The)Mirvac GroupScentre Group


Common StocksBanks — 28.7%

4,297,093$

88,470,470

576,946

4,422,213

713,219

5,806,711

2,576,774

135,115,324

3,997,247

81,057,055 5,004,714 105,462,850

420,334,623Beverages — 1.3%

746,211 5,013,8311,066,976 13,385,488

18,399,319Biotechnology — 6.4%

664,852 93,493,751

Capital Markets — 3.7%284,289 13,041,954474,884 41,081,168

54,123,122Chemicals — 0.9%

2,455,481 6,391,313554,111 7,408,467

13,799,780Commercial Services & Supplies — 1.1%

2,338,307 15,976,598

Construction & Engineering — 0.3%141,285 4,406,554

Construction Materials — 1.3%1,722,509 8,171,919

650,658 10,914,743

19,086,662Containers & Packaging — 1.2%

1,702,987 18,117,226

Diversified Financial Services — 1.4%4,286,277 12,648,525

810,279 7,902,828

20,551,353Diversified Telecommunication Services — 1.0%

6,119,269 12,964,406544,635 2,295,386

15,259,792Electric Utilities — 0.2%

2,610,528 3,209,791

Equity Real Estate Investment Trusts (REITs) — 6.4%18,888,372 2201,501,474 11,235,9332,388,760 16,881,6322,652,830 10,096,5375,458,023 9,498,5707,841,154 24,799,979

Woolworths Group Ltd.

APA Group

Cochlear Ltd.

Healthscope Ltd.Ramsay Health Care Ltd.Sonic Healthcare Ltd.

Aristocrat Leisure Ltd.Crown Resorts Ltd.Domino's Pizza Enterprises Ltd.(a)

Flight Centre Travel Group Ltd.Tabcorp Holdings Ltd.

Insurance Australia Group Ltd.Medibank Pvt Ltd.QBE Insurance Group Ltd.Suncorp Group Ltd.

REA Group Ltd.

Computershare Ltd.

Alumina Ltd.BHP Billiton Ltd.BlueScope Steel Ltd.Fortescue Metals Group Ltd.Newcrest Mining Ltd.Rio Tinto Ltd.South32 Ltd.

AGL Energy Ltd.

Harvey Norman Holdings Ltd.

Caltex Australia Ltd.Oil Search Ltd.Origin Energy Ltd.(c)

Santos Ltd.(c)

Woodside Petroleum Ltd.

Seek Ltd.

LendLease Group


Food & Staples Retailing (continued)

1,919,092$

41,326,225

98,803,256Gas Utilities — 0.8%

1,734,443 11,404,463

Health Care Equipment & Supplies — 0.9% 84,822 12,589,018

Health Care Providers & Services — 1.7%

2,552,780

4,539,168207,875 9,646,511592,050 10,554,283

24,739,962Hotels, Restaurants & Leisure — 2.8%

844,156 19,187,469549,881 5,533,69789,384 3,329,54381,957 3,821,227

2,805,632 9,276,992

41,148,928Insurance — 4.4%

3,483,404 21,428,3854,044,145 8,965,8072,004,195 14,376,1751,904,067 19,348,766

64,119,133Internet Software & Services — 0.3%

77,408 5,025,957

IT Services — 0.6%678,797 8,906,028

Metals & Mining — 15.1%3,556,637 7,212,2274,722,225 117,161,017

820,821 10,794,2702,290,438 8,128,0511,127,148 17,705,302

606,662 38,085,7867,620,067 21,448,492

220,535,145Multi-Utilities — 1.1%

963,686 16,114,724

Multiline Retail — 0.2%824,188 2,245,039

Oil, Gas & Consumable Fuels — 5.7%383,385 8,534,397

2,020,376 12,642,4942,581,559 18,752,0322,608,846 11,567,5421,324,458 32,479,719

83,976,184Professional Services — 0.5%

482,423 7,373,512

Real Estate Management & Development — 0.8%859,195 12,209,064



41

StocklandVicinity Centres

Wesfarmers Ltd.

3,573,943 11,222,5304,784,196 9,665,298

93,400,699Food & Staples Retailing — 6.8%

1,667,307 57,477,031



BlackRock Cash Funds: Institutional, SL Agency SharesBlackRock Cash Funds: Treasury, SL Agency Shares

ASX SPI 200 Index

iShares® MSCI Australia ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



6,985,447 (1,496,278) 5,489,169 $5,490,267

$55,045(a)

$(1,701)

$687

183,299 (126,858) 56,441 56,441 11,458 — —

$5,546,708

$66,503

$(1,701)

$687



Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$15,477 $ (114,935)

Aurizon Holdings Ltd.

Sydney AirportTransurban Group



BlackRock Cash Funds: Treasury, SL AgencyShares, 1.64%(d)(e)


Total Investments in Securities — 99.3%(Cost: $1,659,306,851)Other Assets, Less Liabilities — 0.7%



Road & Rail — 0.7%

2,924,745$

9,538,066

Transportation Infrastructure — 2.6%

1,604,136

8,836,242 3,274,788 29,412,298

38,248,540

1,447,136,289Short-Term InvestmentsMoney Market Funds — 0.4%

5,489,169 5,490,267

56,441 56,441

5,546,708

5,546,708

1,452,682,997

10,665,089

$1,463,348,086

(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 cash collateral received from

loaned securities.




42



Common Stocks

Money Market Funds

Futures Contracts

iShares® MSCI Australia ETF Schedule of Investments (unaudited) (continued)

May 31, 2018




Investments

Assets

$1,447,136,069

$ —

$ 220

$1,447,136,289

5,546,708

—

—

5,546,708

$1,452,682,777

$ —

$ 220

$1,452,682,997


Liabilities

$ (114,935)

$ —

$ —

$ (114,935)




43



iShares® MSCI Austria ETFSchedule of Investments (unaudited)

May 31, 2018


FACC AG(a)

Oesterreichische Post AG

POLYTEC Holding AG

BAWAG Group AG(b)

Erste Group Bank AGRaiffeisen Bank International AG(a)

Lenzing AG

Porr AG(c)

Wienerberger AG

Telekom Austria AG

EVN AG

Zumtobel Group AG

AT&S Austria Technologie & Systemtechnik AGKapsch TrafficCom AG

Schoeller-Bleckmann Oilfield Equipment AG(c)

Agrana Beteiligungs AG

DO & CO AG(c)

UNIQA Insurance Group AGVienna Insurance Group AG Wiener VersicherungGruppe


Common StocksAerospace & Defense — 1.1%

138,935$

2,701,899

Air Freight & Logistics — 3.0% 161,537 7,504,772

Auto Components — 0.7%

117,446 1,812,392

Banks — 27.7%

152,010

7,204,1141,209,730 50,384,352

332,156 10,503,487

68,091,953Chemicals — 2.9%

63,860 7,122,656


Construction Materials — 4.5%416,292 11,089,095

Diversified Telecommunication Services — 2.9%802,571 7,101,254

Electric Utilities — 1.6%201,508 3,979,926

Electrical Equipment — 0.7%216,643 1,790,442

Electronic Equipment, Instruments & Components — 2.1%155,013 3,213,61244,423 1,918,634

5,132,246Energy Equipment & Services — 2.8%

54,585 6,887,814

Food Products — 0.4%8,133 911,390

Hotels, Restaurants & Leisure — 1.1%45,348 2,667,909

Insurance — 5.1%596,187 7,035,842

193,240 5,544,486

12,580,328

ANDRITZ AGSemperit AG Holding(a)(c)

Voestalpine AG

OMV AG

BUWOG AGCA Immobilien Anlagen AGIMMOFINANZ AGS IMMO AG








Machinery — 5.2% 218,847 $ 10,908,144 90,585 1,880,054

12,788,198Metals & Mining — 9.9%

452,464 24,274,284

Oil, Gas & Consumable Fuels — 13.7% 587,153 33,720,870

Real Estate Management & Development — 11.8%119,856 4,062,925294,286 10,319,340

4,108,163 9,888,233247,973 4,891,854

29,162,352

242,155,812


5,885,989 5,887,167

94,424 94,424

5,981,591

5,981,591

248,137,403(2,069,168)

$ 246,068,235




loaned securities.



44




Common Stocks

Money Market Funds

iShares® MSCI Austria ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates

Investments in issuers considered to be affiliates of the Fund during the period ended May 31, 2018, for purposes of Section 2(a)(3) of the Investment CompanyAct of 1940, as amended, were as follows:

Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



6,611,731 (725,742) 5,885,989 $5,887,167

$144,778(a)

$(1,478)

$386

135,114 (40,690) 94,424 94,424 984 — —

$5,981,591

$145,762

$(1,478)

$386





Investments

Assets

$242,155,812

$ —

$ —

$242,155,812

5,981,591

—

—

5,981,591

$248,137,403

$ —

$ —

$248,137,403



45



iShares® MSCI Belgium ETFSchedule of Investments (unaudited)

May 31, 2018


bpost SA

KBC Group NV

Anheuser-Busch InBev SA/NV

Galapagos NV(a)(b)

Gimv NV

Recticel SASolvay SATessenderlo Group SA(a)

Umicore SA

EVS Broadcast Equipment SA

Cie. d'Entreprises CFE

D'ieteren SA/NV

Ackermans & van Haaren NVGroupe Bruxelles Lambert SAKBC AncoraSofina SA

Proximus SADP

Elia System Operator SA/NV

Barco NV

Aedifica SABefimmo SACofinimmo SAIntervest Offices & Warehouses NVRetail Estates NVWarehouses De Pauw CVA

Colruyt SA

Greenyard NV

Biocartis NV(a)(b)(c)

Ion Beam Applications(a)(b)


Common StocksAir Freight & Logistics — 1.2%

42,835$

757,519

Banks — 9.9% 85,002 6,568,550

Beverages — 22.3% 157,344 14,733,816

Biotechnology — 2.7% 17,322 1,757,519

Capital Markets — 1.0%11,412 678,050

Chemicals — 13.1%16,025 187,06026,399 3,543,78816,209 635,73776,228 4,306,677

8,673,262Communications Equipment — 0.5%

13,002 311,892

Construction & Engineering — 0.9%4,780 601,491

Distributors — 1.0%15,558 672,678

Diversified Financial Services — 9.9%9,635 1,642,052

27,990 2,964,06916,640 931,5695,994 1,008,938


58,230 1,557,235

Electric Utilities — 1.5%15,559 984,381

Electronic Equipment, Instruments & Components — 1.1%5,627 696,250

Equity Real Estate Investment Trusts (REITs) — 6.7%9,140 865,266

11,649 726,1269,405 1,164,814

15,619 387,4312,699 244,7978,548 1,061,668


25,960 1,377,882

Food Products — 0.4%13,435 240,259

Health Care Equipment & Supplies — 1.2%29,293 430,84114,092 370,445

801,286

Fagron

AGFA-Gevaert NV(a)

Ageas

Econocom Group SA/NV

Kinepolis Group NVTelenet Group Holding NV(a)

Bekaert SANyrstar NV(a)(b)

Euronav NVExmar NV(a)(b)

Ontex Group NV

Mithra Pharmaceuticals SA(a)

UCB SA

Melexis NV

Sioen Industries NVVan de Velde NV

Orange Belgium SATotal Common Stocks — 99.4%(Cost: $71,200,241)

BlackRock Cash Funds: Institutional, SL Agency Shares,1.98%(d)(e)(f)






Health Care Providers & Services — 0.8% 32,538 $ 534,781

Health Care Technology — 0.6%

119,149 426,427

Insurance — 4.3% 56,189 2,846,580

IT Services — 0.7% 79,267 489,475

Media — 2.7%9,506 622,505

22,373 1,129,778

1,752,283Metals & Mining — 1.7%

18,998 709,64470,502 407,699

1,117,343Oil, Gas & Consumable Fuels — 1.5%

71,060 653,63345,978 359,589

1,013,222Personal Products — 1.4%

35,126 955,360

Pharmaceuticals — 4.9%5,100 183,955

38,723 3,051,091

3,235,046Semiconductors & Semiconductor Equipment — 1.5%

9,732 974,134

Textiles, Apparel & Luxury Goods — 0.6%7,427 252,2843,526 135,207

387,491Wireless Telecommunication Services — 0.8%

26,474 521,644


2,646,428 2,646,958

7,287 7,287

2,654,245

2,654,245

68,316,831(2,221,409)

$ 66,095,422

(a) Non-income producing security.



46




Common Stocks

Money Market Funds

iShares® MSCI Belgium ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

(b) All or a portion of this security is on loan.(c) Security exempt from registration pursuant to Rule 144A under the Securities Act


(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 cash collateral received from

loaned securities.

Affiliates


Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net Realized Gain (Loss)


3,505,275 (858,847) 2,646,428 $2,646,958

$49,830(a)

$197

$93

25,070 (17,783) 7,287 7,287 352 — —

$2,654,245

$50,182

$197

$93





Investments

Assets

$65,662,586

$ —

$ —

$65,662,586

2,654,245

—

—

2,654,245

$68,316,831

$ —

$ —

$68,316,831



47



iShares® MSCI Brazil ETFSchedule of Investments (unaudited)

May 31, 2018


Embraer SA

Banco Bradesco SA

Banco do Brasil SABanco Santander Brasil SA, NVS

Ambev SA

B3 SA - Brasil, Bolsa, Balcao

Klabin SA, NVS

Kroton Educacional SA

Centrais Eletricas Brasileiras SA(a)

EDP - Energias do Brasil SAEquatorial Energia SA

Atacadao Distribuicao Comercio e Industria LtdaRaia Drogasil SA

BRF SA(a)

JBS SAM. Dias Branco SA

Odontoprev SA

Engie Brasil Energia SA

BB Seguridade Participacoes SAIRB Brasil Resseguros S/APorto Seguro SASul America SA, NVS

Cielo SA

WEG SA

Cia. Siderurgica Nacional SA(a)

Vale SA

Lojas Renner SAMagazine Luiza SA



16,840,287$

101,700,583

Banks — 5.1%

16,089,824

112,679,102

20,153,387

164,352,88610,382,975 94,181,575

371,213,563Beverages — 4.5%

61,910,655 327,337,387

Capital Markets — 3.9%49,075,077 286,882,407

Containers & Packaging — 1.3%17,409,600 98,126,369

Diversified Consumer Services — 1.4%34,203,019 99,282,941

Electric Utilities — 2.0%7,708,500 30,282,986

10,296,745 36,552,4015,050,900 82,449,004


12,100,300 51,825,2405,746,500 96,087,473

147,912,713Food Products — 2.4%

13,482,250 77,547,23925,414,307 60,941,6523,259,300 36,758,529

175,247,420Health Care Providers & Services — 0.3%

5,112,465 19,164,622

Independent Power and Renewable Electricity Producers — 0.7%4,856,175 48,235,097

Insurance — 3.3%17,004,795 118,995,4373,310,200 42,861,3593,615,620 41,272,2736,883,449 36,191,225

239,320,294IT Services — 1.8%

29,159,596 132,719,795

Machinery — 1.3%20,627,781 95,161,257

Metals & Mining — 12.8%19,081,169 39,453,01565,714,032 893,409,444

932,862,459Multiline Retail — 2.7%

17,133,790 136,507,1762,056,700 59,877,664

Cosan SA Industria e Comercio

Petroleo Brasileiro SAUltrapar Participacoes SA

Fibria Celulose SASuzano Papel e Celulose SA

Natura Cosmeticos SA

Hypera SA

BR Malls Participacoes SAMultiplan Empreendimentos Imobiliarios SA

Localiza Rent a Car SARumo SA(a)

Petrobras Distribuidora SA

CCR SA

Cia. de Saneamento Basico do Estado de SaoPaulo

TIM Participacoes SATotal Common Stocks — 65.9%(Cost: $4,126,341,610)

Banco Bradesco SA, Preference Shares, NVSItau Unibanco Holding SA, Preference Shares, NVSItausa-Investimentos Itau SA, Preference Shares,NVS

Braskem SA, Class A, Preference Shares, NVS

Telefonica Brasil SA, Preference Shares, NVS

Centrais Eletricas Brasileiras SA, Class B,Preference Shares, NVSCia. Energetica de Minas Gerais, PreferenceShares, NVS

Cia. Brasileira de Distribuicao, Preference Shares,NVS


Oil, Gas & Consumable Fuels — 6.4%

4,677,450$

48,733,250

51,060,869

304,249,589 8,774,855 117,813,335

470,796,174Paper & Forest Products — 3.5%

6,279,351

119,346,53511,924,330 138,005,296


5,523,065 50,009,466

Pharmaceuticals — 0.9%9,155,100 69,326,088

Real Estate Management & Development — 1.4%22,289,538 61,648,5392,793,546 44,010,511

105,659,050Road & Rail — 2.6%

12,896,631 85,641,62327,557,390 102,191,849

187,833,472Specialty Retail — 0.3%

3,810,400 18,622,006

Transportation Infrastructure — 1.2%30,552,765 84,503,022

Water Utilities — 0.9%

9,136,000 64,152,307

Wireless Telecommunication Services — 1.1%22,125,525 79,672,209

4,808,761,763

Preferred StocksBanks — 20.9%

67,690,489 530,210,80966,562,898 768,215,614

74,233,025 223,852,223

1,522,278,646Chemicals — 0.8%

4,833,656 58,927,238

Diversified Telecommunication Services — 1.8%10,813,964 132,123,726

Electric Utilities — 1.2%

7,388,546 33,232,139

24,958,070 51,403,283


4,232,564 90,355,618

Metals & Mining — 1.4%



48

196,384,840 Gerdau SA, Preference Shares, NVS 25,725,126 102,235,970



BlackRock Cash Funds: Treasury, SL Agency Shares


iShares® MSCI Brazil ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



16,859 4,327,915 4,344,774 $4,344,774

$52,524

$—

$—


Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$34,604 $ (1,922,515)



Lojas Americanas SA, Preference Shares, NVS

Petroleo Brasileiro SA, Preference Shares, NVSTotal Preferred Stocks — 33.5%(Cost: $1,930,377,451)

BlackRock Cash Funds: Treasury, SL AgencyShares, 1.64%(b)(c)





Multiline Retail — 1.2%

19,155,917$

91,406,035

Oil, Gas & Consumable Fuels — 5.0%70,938,683 361,546,221

2,443,508,876


4,344,774 4,344,774

4,344,774

7,256,615,413

37,546,493

$7,294,161,906

(a) Non-income producing security.(b) Affiliate of the Fund.(c) Annualized 7-day yield as of period-end.



49



Common Stocks

Preferred Stocks

Money Market Funds

Futures Contracts

NVS

iShares® MSCI Brazil ETF Schedule of Investments (unaudited) (continued)

May 31, 2018




Investments

Assets

$4,808,761,763

$ —

$ —

$4,808,761,763

2,443,508,876

—

—

2,443,508,876

4,344,774

—

—

4,344,774

$7,256,615,413

$ —

$ —

$7,256,615,413


Liabilities

$ (1,922,515)

$ —

$ —

$ (1,922,515)


Portfolio Abbreviations - EquityNon-Voting Shares



50



iShares® MSCI BRIC ETFConsolidated Schedule of Investments (unaudited)

May 31, 2018


Ambev SA



Banco Bradesco SA

Banco do Brasil SA

Banco Santander Brasil SA, NVS

BB Seguridade Participacoes SABR Malls Participacoes SABRF SA(a)


Cia. de Saneamento Basico do Estado de Sao PauloCia. Siderurgica Nacional SA(a)

Cielo SACosan SA Industria e ComercioEDP - Energias do Brasil SAEmbraer SAEngie Brasil Energia SAEquatorial Energia SAFibria Celulose SAHypera SAJBS SAKlabin SA, NVSKroton Educacional SALocaliza Rent a Car SALojas Renner SAM. Dias Branco SAMagazine Luiza SAMultiplan Empreendimentos Imobiliarios SANatura Cosmeticos SAOdontoprev SAPetrobras Distribuidora SAPetroleo Brasileiro SAPorto Seguro SARaia Drogasil SARumo SA(a)

Sul America SA, NVSSuzano Papel e Celulose SATIM Participacoes SAUltrapar Participacoes SAVale SAWEG SA

3SBio Inc.(a)(b)

51job Inc., ADR(a)

58.com Inc., ADR(a)




501,665$

2,652,431

39,600

169,606

224,469

1,312,198

105,639

739,803

92,489

754,257

39,600

359,203

79,200

554,22281,918 226,56952,800 303,695

132,000 365,08626,400 103,71339,600 278,06866,000 136,464

132,021 600,89313,200 137,52826,400 93,71766,000 398,58213,200 131,11213,200 215,47226,441 502,54339,600 299,86792,452 221,69366,000 371,998

145,264 421,66652,879 351,14979,260 631,47513,200 148,87013,200 384,29813,710 215,99213,200 119,52226,400 98,96326,400 129,021

316,800 1,887,67413,200 150,67826,450 442,272

118,800 440,54926,489 139,27239,600 458,30892,469 332,97339,600 531,679

330,029 4,486,88186,872 400,763

22,700,725China — 64.8%

132,000 377,7852,772 294,9419,900 804,078

80,000 1,204,464

ANTA Sports Products Ltd.

Anxin Trust Co. Ltd., Class A

Autohome Inc., ADR

AviChina Industry & Technology Co. Ltd., Class H

BAIC Motor Corp. Ltd., Class H(b)

Baidu Inc., ADR(a)

Bank of China Ltd., Class H

Bank of Communications Co. Ltd., Class HBBMG Corp., Class HBeijing Capital International Airport Co. Ltd., Class HBeijing Enterprises Holdings Ltd.Beijing Enterprises Water Group Ltd.(c)


BOE Technology Group Co. Ltd., Class ABrilliance China Automotive Holdings Ltd.BYD Co. Ltd., Class HBYD Electronic International Co. Ltd.CGN Power Co. Ltd., Class H(b)

China Agri-Industries Holdings Ltd.China Cinda Asset Management Co. Ltd., Class HChina CITIC Bank Corp. Ltd., Class HChina Coal Energy Co. Ltd., Class HChina Communications Construction Co. Ltd., ClassHChina Communications Services Corp. Ltd., Class HChina Conch Venture Holdings Ltd.China Construction Bank Corp., Class AChina Construction Bank Corp., Class HChina Eastern Airlines Corp. Ltd., Class AChina Everbright Bank Co. Ltd., Class HChina Everbright International Ltd.China Evergrande Group(a)(c)


China Galaxy Securities Co. Ltd., Class HChina Gas Holdings Ltd.China Grand Automotive Services Co. Ltd., Class AChina Huarong Asset Management Co. Ltd., ClassH(b)


China International Capital Corp. Ltd., Class H(b)

China International Marine Containers Group Co.Ltd., Class HChina Jinmao Holdings Group Ltd.China Life Insurance Co. Ltd., Class HChina Literature Ltd.(a)(b)

China Lodging Group Ltd., ADRChina Longyuan Power Group Corp. Ltd., Class HChina Medical System Holdings Ltd.China Mengniu Dairy Co. Ltd.


China (continued)

132,040$

760,848

13,200

16,857

6,204

699,315

264,000

176,356

198,000

192,342

28,908

7,011,924

8,448,000

4,415,622

1,056,200

836,165264,000 115,775264,000 390,40666,000 364,743

528,000 318,38213,200 81,95292,400 59,432

264,000 493,39266,000 428,26866,000 104,837

1,188,000 337,734132,000 56,037

1,056,000 382,3281,056,000 717,539

132,000 58,056

538,000 577,495264,800 170,476198,000 686,57526,400 29,345

10,032,370 10,129,37938,631 44,388

405,000 201,877264,000 394,444264,000 774,080264,000 264,533330,000 206,562184,800 766,84413,200 14,034

1,056,000 355,40451,450 —

105,600 222,666

39,600 61,893528,000 301,555792,000 2,211,17626,400 246,52814,388 633,216

396,000 365,500136,000 327,684264,000 959,186



51

Agile Group Holdings Ltd.Agricultural Bank of China Ltd., Class AAgricultural Bank of China Ltd., Class HAir China Ltd., Class HAlibaba Group Holding Ltd., ADR(a)(c)


Alibaba Pictures Group Ltd.(a)


Angang Steel Co. Ltd., Class AAnhui Conch Cement Co. Ltd., Class H

264,000 503,48992,400 51,787

2,904,000 1,503,062264,000 305,930121,440 24,046,334342,000 313,479

1,320,000 171,644528,000 277,99621,073 19,937

132,000 809,418

China Merchants Bank Co. Ltd., Class AChina Merchants Bank Co. Ltd., Class HChina Merchants Port Holdings Co. Ltd.China Minsheng Banking Corp. Ltd., Class HChina Mobile Ltd.China Molybdenum Co. Ltd., Class HChina National Building Material Co. Ltd., Class HChina National Nuclear Power Co. Ltd., Class AChina Oilfield Services Ltd., Class HChina Overseas Land & Investment Ltd.China Pacific Insurance Group Co. Ltd., Class HChina Petroleum & Chemical Corp., Class HChina Power International Development Ltd.

26,400 118,616396,456 1,632,494264,000 602,436594,000 566,425660,000 5,889,739396,000 250,903284,000 325,12426,400 25,224

284,000 296,884528,800 1,769,599290,400 1,255,019

2,640,600 2,581,975264,000 73,369



iShares® MSCI BRIC ETFConsolidated Schedule of Investments (unaudited) (continued)

May 31, 2018


China Railway Construction Corp. Ltd., Class H

China Railway Group Ltd., Class H

China Reinsurance Group Corp., Class H

China Resources Beer Holdings Co. Ltd.

China Resources Cement Holdings Ltd.

China Resources Gas Group Ltd.

China Resources Land Ltd.

China Resources Pharmaceutical Group Ltd.(b)

China Resources Power Holdings Co. Ltd.China Shenhua Energy Co. Ltd., Class HChina Southern Airlines Co. Ltd., Class HChina State Construction Engineering Corp. Ltd.,Class AChina State Construction International Holdings Ltd.China Taiping Insurance Holdings Co. Ltd.China Telecom Corp. Ltd., Class HChina Traditional Chinese Medicine Holdings Co. Ltd.China Travel International Investment Hong KongLtd.China Unicom Hong Kong Ltd.China Vanke Co. Ltd., Class HChina Yangtze Power Co. Ltd., Class AChina Zhongwang Holdings Ltd.Chong Sing Holdings FinTech Group Ltd.(a)

Chongqing Changan Automobile Co. Ltd., Class BChongqing Rural Commercial Bank Co. Ltd., Class HCIFI Holdings Group Co. Ltd.CITIC Ltd.CITIC Securities Co. Ltd., Class HCNOOC Ltd.COSCO SHIPPING Development Co. Ltd., Class A(a)

COSCO SHIPPING Development Co. Ltd., Class H(a)

COSCO SHIPPING Holdings Co. Ltd., Class A(a)

COSCO SHIPPING Holdings Co. Ltd., Class H(a)

COSCO SHIPPING Ports Ltd.Country Garden Holdings Co. Ltd.CRRC Corp. Ltd., Class HCSPC Pharmaceutical Group Ltd.Ctrip.com International Ltd., ADR(a)


Datang International Power Generation Co. Ltd.,Class H(a)

Dongfeng Motor Group Co. Ltd., Class HENN Energy Holdings Ltd.Everbright Securities Co. Ltd., Class AFang Holdings Ltd., ADR(a)

Far East Horizon Ltd.


China (continued)

210,000$

237,999

396,000

319,560

264,000

59,234

158,000

767,425

264,000

310,978

89,000

338,112

292,444

1,073,716

198,000

303,911264,200 540,919396,000 1,034,911264,000 261,168

66,000 84,800264,000 326,123184,840 663,328

1,584,000 739,078264,000 242,321

254,000 112,685571,900 777,198132,001 472,02426,400 70,519

150,800 81,7041,452,000 192,510

52,800 57,820264,000 176,356264,000 204,290660,000 981,062264,000 665,709

1,848,000 3,109,78266,000 30,396

132,000 25,07326,200 25,032

245,000 137,740264,000 254,100792,046 1,552,962471,400 421,271528,000 1,652,49341,580 1,874,842

198,000 152,713

264,000 85,149264,000 301,21874,000 761,77813,200 24,56421,516 109,086

264,000 280,352

Guangzhou Automobile Group Co. Ltd., Class H

Guangzhou R&F Properties Co. Ltd., Class H

Guotai Junan Securities Co. Ltd., Class A(a)


Haier Electronics Group Co. Ltd.

Haitong Securities Co. Ltd., Class H

Hanergy Thin Film Power Group Ltd.(a)(d)

Hangzhou Hikvision Digital Technology Co. Ltd.,Class AHengan International Group Co. Ltd.(c)

HengTen Networks Group Ltd.(a)

Huadian Power International Corp. Ltd., Class AHuaneng Power International Inc., Class HHuaneng Renewables Corp. Ltd., Class HHuatai Securities Co. Ltd., Class H(b)

Huayu Automotive Systems Co. Ltd., Class AHubei Biocause Pharmaceutical Co. Ltd., Class AHubei Energy Group Co. Ltd., Class AIndustrial & Commercial Bank of China Ltd., Class HInner Mongolia Yili Industrial Group Co. Ltd., Class AInner Mongolia Yitai Coal Co. Ltd., Class BJD.com Inc., ADR(a)(c)

Jiangxi Copper Co. Ltd., Class HKaisa Group Holdings Ltd.(a)

Kangmei Pharmaceutical Co. Ltd., Class AKingboard Chemical Holdings Ltd.Kingboard Laminates Holdings Ltd.Kingdee International Software Group Co. Ltd.Kingsoft Corp. Ltd.Kunlun Energy Co. Ltd.KWG Property Holdings Ltd.Lee & Man Paper Manufacturing Ltd.Legend Holdings Corp., Class H(b)

Lenovo Group Ltd.Logan Property Holdings Co. Ltd.Longfor Properties Co. Ltd.Luxshare Precision Industry Co. Ltd., Class ALuye Pharma Group Ltd.Meinian Onehealth Healthcare Holdings Co. Ltd.,Class AMeitu Inc.(a)(b)

Metallurgical Corp. of China Ltd., Class AMidea Group Co. Ltd., Class AMomo Inc., ADR(a)

NetEase Inc., ADRNew China Life Insurance Co. Ltd., Class HNew Hope Liuhe Co. Ltd., Class A


China (continued)

264,454$

448,390

105,600

247,706

26,400

69,200

26,400

61,388

152,000

546,445

369,600

462,698

7,709

—

13,200

80,67866,000 628,519

2,008,000 80,63639,600 25,780

528,000 407,907528,000 226,839184,800 364,22113,199 52,58613,200 15,80626,400 17,805

7,392,050 6,125,37013,200 63,94550,000 66,85075,372 2,651,587

132,000 191,837230,000 124,90813,200 55,14666,000 262,514

132,000 175,009264,000 289,775132,000 416,489264,000 240,301132,000 182,077132,000 154,81626,400 84,139

792,000 420,023264,000 397,137132,000 395,45413,200 47,892

132,000 144,888

13,199 61,364198,000 209,75926,400 15,16713,200 109,03412,144 557,6528,316 1,898,709

92,400 419,34913,200 14,693



52

Focus Media Information Technology Co. Ltd., ClassAFosun International Ltd.Founder Securities Co. Ltd., Class A(a)

Fullshare Holdings Ltd.(c)

Future Land Development Holdings Ltd.Fuyao Glass Industry Group Co. Ltd., Class H(b)

GCL-Poly Energy Holdings Ltd.(a)

GDS Holdings Ltd., ADR(a)

Geely Automobile Holdings Ltd.GF Securities Co. Ltd., Class HGOME Retail Holdings Ltd.(a)(c)

Great Wall Motor Co. Ltd., Class HGreentown China Holdings Ltd.Guangdong Investment Ltd.

13,200 25,739264,000 580,22313,200 12,097

745,000 351,408264,000 206,98252,800 195,539

1,452,000 159,1916,336 239,564

528,000 1,497,677158,400 267,361

1,452,400 162,938330,000 321,83257,500 86,498

264,000 444,928

New Oriental Education & Technology Group Inc.,ADRNexteer Automotive Group Ltd.Nine Dragons Paper Holdings Ltd.Ningbo Zhoushan Port Co. Ltd., Class ANoah Holdings Ltd., ADR(a)

People's Insurance Co. Group of China Ltd. (The),Class HPetroChina Co. Ltd., Class HPICC Property & Casualty Co. Ltd., Class HPing An Insurance Group Co. of China Ltd., Class APing An Insurance Group Co. of China Ltd., Class HPostal Savings Bank of China Co. Ltd., Class H(b)

Qingdao Haier Co. Ltd., Class ASanan Optoelectronics Co. Ltd., Class A

15,048 1,496,825132,000 217,752132,000 210,01126,400 21,1843,036 181,796

792,000 374,5872,376,000 1,965,827

529,548 932,97026,400 256,068

528,000 5,176,240264,000 176,69213,200 41,42110,530 34,095




May 31, 2018


SDIC Capital Co. Ltd., Class A

SDIC Power Holdings Co. Ltd., Class ASemiconductor Manufacturing International Corp.(a)(c)

Shandong Weigao Group Medical Polymer Co. Ltd.,Class HShanghai 2345 Network Holding Group Co. Ltd.,Class A

Shanghai Electric Group Co. Ltd., Class A, NVS


Shanghai Fosun Pharmaceutical Group Co. Ltd.,Class HShanghai Lujiazui Finance & Trade ZoneDevelopment Co. Ltd., Class BShanghai Pharmaceuticals Holding Co. Ltd., Class HShanghai Pudong Development Bank Co. Ltd., ClassAShenergy Co. Ltd., Class AShenwan Hongyuan Group Co. Ltd., Class AShenzhen Energy Group Co. Ltd., Class AShenzhen International Holdings Ltd.Shenzhou International Group Holdings Ltd.Shimao Property Holdings Ltd.Shui On Land Ltd.Sichuan Chuantou Energy Co. Ltd., Class ASihuan Pharmaceutical Holdings Group Ltd.SINA Corp./China(a)

Sino Biopharmaceutical Ltd.Sino-Ocean Group Holding Ltd.Sinopec Engineering Group Co. Ltd., Class HSinopec Shanghai Petrochemical Co. Ltd., Class HSinopharm Group Co. Ltd., Class HSinotrans Ltd., Class HSinotruk Hong Kong Ltd.SOHO China Ltd.SSY Group Ltd.Sun Art Retail Group Ltd.Sunac China Holdings Ltd.Suning.com Co. Ltd., Class ASunny Optical Technology Group Co. Ltd.TAL Education Group, Class A, ADR(a)

Tencent Holdings Ltd.Tingyi Cayman Islands Holding Corp.(c)

Tongwei Co. Ltd., Class ATowngas China Co. Ltd.TravelSky Technology Ltd., Class HTsingtao Brewery Co. Ltd., Class HUni-President China Holdings Ltd.Vipshop Holdings Ltd., ADR(a)


Wanxiang Qianchao Co. Ltd., Class A


China (continued)

13,200$

23,286

26,400

31,076

264,200

345,569

184,000

158,335

13,200

12,241

13,200

12,612

268,000

102,497

69,500

445,220

105,680 157,463105,600 326,460

39,600 65,22326,400 22,17426,400 19,12426,400 23,74066,000 144,38355,000 643,664

132,000 390,406330,000 92,55326,400 38,701

396,000 102,4816,600 599,412

396,000 1,001,592330,000 222,969132,000 141,859265,000 195,604105,600 469,160132,000 74,88466,000 93,394

264,000 137,988264,000 282,371264,000 310,978264,000 1,004,62113,200 33,52879,200 1,611,43335,244 1,496,460

594,000 30,229,509264,000 590,99313,195 23,236

132,000 129,574132,000 386,19940,000 253,437

132,000 142,19545,672 533,449

528,000 523,68213,200 16,610

Yuexiu Property Co. Ltd.

Yum China Holdings Inc.

Yuzhou Properties Co. Ltd.

YY Inc., ADR(a)

Zhaojin Mining Industry Co. Ltd., Class H

Zhejiang Longsheng Group Co. Ltd., Class A

Zhejiang Zheneng Electric Power Co. Ltd., Class AZhongAn Online P&C Insurance Co. Ltd., Class H(a)(b)

Zhongjin Gold Corp. Ltd., Class AZhongsheng Group Holdings Ltd.Zhuzhou CRRC Times Electric Co. Ltd., Class HZijin Mining Group Co. Ltd., Class AZijin Mining Group Co. Ltd., Class HZTE Corp., Class H(a)(d)

Adani Ports & Special Economic Zone Ltd.Ambuja Cements Ltd.Ashok Leyland Ltd.Asian Paints Ltd.Aurobindo Pharma Ltd.Avenue Supermarts Ltd.(a)(b)

Axis Bank Ltd.Bajaj Auto Ltd.Bajaj Finance Ltd.Bajaj Finserv Ltd.Bharat Forge Ltd.Bharat Heavy Electricals Ltd.Bharat Petroleum Corp. Ltd.Bharti Airtel Ltd.Bharti Infratel Ltd.Bosch Ltd.Britannia Industries Ltd.Cadila Healthcare Ltd.(a)

Cipla Ltd./IndiaCoal India Ltd.Container Corp. of India Ltd.Dabur India Ltd.Dr. Reddy's Laboratories Ltd.Eicher Motors Ltd.GAIL India Ltd.Glenmark Pharmaceuticals Ltd.Godrej Consumer Products Ltd.Grasim Industries Ltd.Havells India Ltd.HCL Technologies Ltd.Hero MotoCorp Ltd.


China (continued)

528,000$

119,141

38,808

1,525,154

132,000

92,890

4,884

569,133

66,000

55,111

13,200

26,893

26,400

21,514

13,200

87,84113,200 17,84666,000 211,61066,000 332,35039,600 23,183

559,000 233,03187,048 210,847

190,643,728India — 16.3%

56,365 327,54562,436 190,040

128,590 282,11431,152 602,26728,248 232,86612,540 292,146

188,628 1,525,9079,372 381,963

18,480 577,7944,092 366,390

21,893 211,10386,196 106,84779,728 477,251

146,256 809,71034,188 151,302

792 215,5682,376 208,577

21,516 115,19637,092 288,45872,072 316,3985,808 118,690

55,044 312,64912,012 344,7181,452 662,298

73,572 382,56514,784 117,41526,268 443,42135,904 553,22526,664 215,00758,608 790,6325,544 291,230



53

Weibo Corp., ADR(a)

Weichai Power Co. Ltd., Class HWuliangye Yibin Co. Ltd., Class AWuxi Biologics Cayman Inc.(a)(b)

Xinjiang Goldwind Science & Technology Co. Ltd.,Class AXinjiang Goldwind Science & Technology Co. Ltd.,Class HXinyi Solar Holdings Ltd.Yanzhou Coal Mining Co. Ltd., Class HYonghui Superstores Co. Ltd., Class AYoungor Group Co. Ltd., Class A

5,016 511,181265,100 355,53313,200 162,75862,500 700,761

13,200 33,260

52,800 84,543264,000 109,381264,000 380,98213,200 19,84513,199 17,350

Hindalco Industries Ltd.Hindustan Petroleum Corp. Ltd.Hindustan Unilever Ltd.Housing Development Finance Corp. Ltd.ICICI Bank Ltd.Idea Cellular Ltd.(a)

IDFC Bank Ltd.Indiabulls Housing Finance Ltd.Indian Oil Corp. Ltd.Infosys Ltd.InterGlobe Aviation Ltd.(b)

ITC Ltd.JSW Steel Ltd.

121,308 421,00364,152 296,45968,112 1,626,482

165,924 4,506,927248,952 1,054,355206,580 188,266

4,067 2,45329,304 539,637

140,429 362,297183,348 3,346,765

8,313 150,196360,492 1,451,15690,948 447,311




May 31, 2018


Larsen & Toubro Ltd.

LIC Housing Finance Ltd.

Lupin Ltd.

Mahindra & Mahindra Financial Services Ltd.

Mahindra & Mahindra Ltd.

Marico Ltd.

Maruti Suzuki India Ltd.

Motherson Sumi Systems Ltd.Nestle India Ltd.NTPC Ltd.Oil & Natural Gas Corp. Ltd.Petronet LNG Ltd.Pidilite Industries Ltd.Piramal Enterprises Ltd.Power Grid Corp. of India Ltd.Reliance Industries Ltd.Rural Electrification Corp. Ltd.Shree Cement Ltd.Shriram Transport Finance Co. Ltd.Siemens Ltd.State Bank of India(a)

Sun Pharmaceutical Industries Ltd.Tata Consultancy Services Ltd.Tata Motors Ltd.(a)

Tata Power Co. Ltd. (The)Tata Steel Ltd.Tech Mahindra Ltd.Titan Co. Ltd.UltraTech Cement Ltd.United Spirits Ltd.(a)

UPL Ltd.Vakrangee Ltd.Vedanta Ltd.Wipro Ltd.Yes Bank Ltd.Zee Entertainment Enterprises Ltd.

Alrosa PJSCGazprom PJSCGazprom PJSC, ADR, NVSInter RAO UES PJSCLUKOIL PJSCLUKOIL PJSC, ADR, NVSMagnit PJSC, GDR, NVS(e)

Magnitogorsk Iron & Steel Works PJSCMMC Norilsk Nickel PJSC


India (continued)

50,688$

1,029,346

30,888

217,485

22,836

260,686

32,297

233,388

79,596

1,088,625

55,440

264,415

11,220

1,419,440

67,514

310,2952,640 377,677

183,348 455,228141,504 373,03851,480 167,5639,504 163,0328,670 304,679

150,348 466,645299,508 4,089,23376,296 133,581

924 231,13715,972 344,2098,184 126,782

179,916 718,65187,120 620,13299,924 2,578,041

163,548 684,656121,044 145,82934,716 296,14050,292 530,88633,792 450,7279,768 542,0696,204 307,394

38,148 400,00850,352 24,324

132,792 488,604119,856 465,162188,760 968,38052,668 433,980

48,016,066Russia — 6.5%

283,800 402,062930,104 2,163,813100,189 455,058

3,036,000 198,73928,248 1,907,59817,573 1,172,82237,356 751,229

250,800 197,5346,732 1,200,100

Surgutneftegas OJSCSurgutneftegas OJSC, ADR, NVSTatneft PJSCVTB Bank PJSCVTB Bank PJSC, GDR, NVS(e)

X5 Retail Group NV, GDR(e)


Banco Bradesco SA, Preference Shares, NVSBraskem SA, Class A, Preference Shares, NVSCentrais Eletricas Brasileiras SA, Class B,Preference Shares, NVSCia. Brasileira de Distribuicao, Preference Shares,NVSCia. Energetica de Minas Gerais, Preference Shares,NVSGerdau SA, Preference Shares, NVSItau Unibanco Holding SA, Preference Shares, NVSItausa-Investimentos Itau SA, Preference Shares,NVSLojas Americanas SA, Preference Shares, NVSPetroleo Brasileiro SA, Preference Shares, NVSTelefonica Brasil SA, Preference Shares, NVS

Surgutneftegas OJSC, Preference Shares, NVSTotal Preferred Stocks — 4.4%(Cost: $10,913,229)

BlackRock Cash Funds: Institutional, SL AgencyShares, 1.98%(f)(g)(h)





Russia (continued) 633,610 $ 291,047 11,514 51,237 160,152 1,712,588355,868,001 284,854 502 797 7,396 214,544

19,264,395


356,402 2,791,65013,200 160,922

26,482 119,110

13,556 289,390

92,487 190,485105,600 419,672343,271 3,961,759

435,677 1,313,79979,304 378,414

409,214 2,085,60152,864 645,886

12,356,688Russia — 0.2%

795,300 388,925


5,916,007 5,917,190

5,917,190

299,287,717(4,885,239)

$ 294,402,478





buyers under Regulation S of the Securities Act of 1933.(f) Affiliate of the Fund.(g) Annualized 7-day yield as of period-end.



54

Mobile TeleSystems PJSC, ADR, NVSMoscow Exchange MICEX-RTS PJSCNovatek PJSC, GDR, NVS(e)

Novolipetsk Steel PJSCPhosAgro PJSC, GDR, NVS(e)

Polyus PJSCRosneft Oil Co. PJSCRosneft Oil Co. PJSC, GDR, NVS(e)

RusHydro PJSCSberbank of Russia PJSCSberbank of Russia PJSC, ADRSeverstal PJSC

52,404 502,030150,480 271,831

9,636 1,388,548134,970 353,30113,068 173,8042,772 166,780

97,602 603,36228,116 171,508

13,068,200 151,780878,900 3,135,57068,207 980,81722,440 361,042

(h) All or a portion of this security was purchased with cash collateral received fromloaned securities.



BlackRock Cash Funds: Institutional, SL AgencySharesBlackRock Cash Funds: Treasury, SL Agency Shares

Common Stocks

Preferred Stocks

Money Market Funds

ADRGDRNVS

iShares® MSCI BRIC ETF Consolidated Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates


Affiliated Issuer



Value at 05/31/18

Income

Net



25,497,132 (19,581,125) 5,916,007 $5,917,190

$78,946(a)

$(3,988)

$(1,649)

159,468 (159,468) — — 3,595 — —

$5,917,190

$82,541

$(3,988)

$(1,649)





Investments

Assets

$280,414,067

$ —

$ 210,847

$280,624,914

12,745,613

—

—

12,745,613

5,917,190

—

—

5,917,190

$299,076,870

$ —

$ 210,847

$299,287,717

Portfolio Abbreviations - EquityAmerican Depositary ReceiptGlobal Depositary ReceiptNon-Voting Shares



55



iShares® MSCI Canada ETFSchedule of Investments (unaudited)

May 31, 2018


Bombardier Inc., Class B(a)

CAE Inc.

Linamar Corp.Magna International Inc.

Bank of MontrealBank of Nova Scotia (The)Canadian Imperial Bank of CommerceNational Bank of CanadaRoyal Bank of CanadaToronto-Dominion Bank (The)

Brookfield Asset Management Inc., Class ACI Financial Corp.IGM Financial Inc.Thomson Reuters Corp.

Methanex Corp.Nutrien Ltd.

SNC-Lavalin Group Inc.WSP Global Inc.

CCL Industries Inc., Class B, NVS

Onex Corp.

BCE Inc.TELUS Corp.

Emera Inc.Fortis Inc./CanadaHydro One Ltd.(b)

H&R REITRioCan REITSmartCentres REIT

Alimentation Couche-Tard Inc., Class BEmpire Co. Ltd., Class A, NVSGeorge Weston Ltd.



4,521,055$

17,007,977 580,530 12,221,920

29,229,897Auto Components — 1.7%

99,203

4,964,739 738,124 47,307,762

52,272,501Banks — 28.2%

1,391,746 107,760,5372,583,664 155,832,463

945,469 82,506,237736,176 35,197,067

3,113,355 235,205,6663,970,924 231,729,068

848,231,038Capital Markets — 3.8%

1,812,441 72,248,939592,132 11,475,639180,384 5,328,643612,797 23,813,673

112,866,894Chemicals — 2.7%

145,371 9,926,7371,389,504 70,278,567

80,205,304Construction & Engineering — 0.9%

378,952 16,522,915219,579 11,540,931


318,575 15,759,295


Diversified Telecommunication Services — 1.0%329,051 13,700,312422,217 14,838,786


126,010 3,934,170907,689 28,989,790697,632 10,465,555

43,389,515Equity Real Estate Investment Trusts (REITs) — 0.5%

300,353 4,679,413347,568 6,309,918140,617 3,189,140


932,286 38,909,932371,150 7,141,462111,027 9,008,319

Saputo Inc.

Restaurant Brands International Inc.

Fairfax Financial Holdings Ltd.Great-West Lifeco Inc.Industrial Alliance Insurance & Financial Services Inc.Intact Financial Corp.Manulife Financial Corp.Power Corp. of CanadaPower Financial Corp.Sun Life Financial Inc.

Shopify Inc., Class A(a)(c)

CGI Group Inc., Class A(a)(c)

Shaw Communications Inc., Class B, NVS

Agnico Eagle Mines Ltd.Barrick Gold Corp.First Quantum Minerals Ltd.(c)

Franco-Nevada Corp.Goldcorp Inc.(c)

Kinross Gold Corp.(a)

Lundin Mining Corp.Teck Resources Ltd., Class BTurquoise Hill Resources Ltd.(a)

Wheaton Precious Metals Corp.

Atco Ltd./Canada, Class I, NVSCanadian Utilities Ltd., Class A, NVS

Canadian Tire Corp. Ltd., Class A, NVSDollarama Inc.(c)

AltaGas Ltd.ARC Resources Ltd.Cameco Corp.(c)

Canadian Natural Resources Ltd.Cenovus Energy Inc.Crescent Point Energy Corp.Enbridge Inc.Encana Corp.Husky Energy Inc.Imperial Oil Ltd.Inter Pipeline Ltd.Keyera Corp.Pembina Pipeline Corp.PrairieSky Royalty Ltd.


Food Products — 0.6% 495,780 $ 17,221,590

Hotels, Restaurants & Leisure — 1.0% 498,437 29,421,308

Insurance — 8.3% 60,176 33,772,226 640,969 16,261,401 230,121 9,402,107 300,463 22,710,7604,269,003 80,496,310

762,938 17,767,774536,998 13,375,274

1,315,884 54,361,875


188,430 27,937,667

IT Services — 1.1%549,510 33,766,144

Media — 0.7%971,380 19,544,417

Metals & Mining — 7.0%502,894 22,558,898

2,511,964 33,055,2151,488,010 23,343,358

400,691 28,241,7351,867,128 26,671,2012,686,440 9,692,0591,402,023 8,786,9621,108,388 30,050,8832,192,436 6,168,973

954,598 20,855,155

209,424,439Multi-Utilities — 0.4%

163,748 4,974,799274,633 6,662,581


135,660 17,263,917224,096 25,852,579


377,516 7,406,554766,407 7,893,306853,364 8,821,779

2,626,882 90,904,0492,253,109 23,760,8161,171,521 9,428,5223,649,334 113,345,4112,099,875 26,709,788

760,099 10,963,192626,449 20,485,636822,293 15,524,172442,346 12,395,372

1,084,526 37,705,922459,291 9,464,114



56

Loblaw Companies Ltd.Metro Inc.

416,662 21,536,530523,218 17,255,062

93,851,305

Seven Generations Energy Ltd., Class A(a)

Suncor Energy Inc.569,146 7,362,219

3,536,702 140,791,930




iShares® MSCI Canada ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



43,796,579 (41,842,358) 1,954,221 $1,954,612

$41,230(a)

$(2,388)

$(2,305)

412,255 614,858 1,027,113 1,027,113 15,974 — —

$2,981,725

$57,204

$(2,388)

$(2,305)



Tourmaline Oil Corp.

TransCanada Corp.Vermilion Energy Inc.

West Fraser Timber Co. Ltd.

Valeant Pharmaceuticals International Inc.(a)

First Capital Realty Inc.

Canadian National Railway Co.Canadian Pacific Railway Ltd.

BlackBerry Ltd.(a)

Constellation Software Inc./CanadaOpen Text Corp.

Gildan Activewear Inc.

Finning International Inc.

Rogers Communications Inc., Class B, NVSTotal Common Stocks — 99.6%(Cost: $3,386,245,183)


Oil, Gas & Consumable Fuels (continued)

550,030$

10,964,983

1,896,645

79,363,160 248,288 8,699,267


131,183 9,529,274

Pharmaceuticals — 0.5% 676,790 14,884,998


Road & Rail — 6.4%1,596,773 133,249,057

310,873 59,914,708

193,163,765Software — 2.2%

1,103,539 13,058,37543,304 34,091,051

573,829 20,007,929

67,157,355Textiles, Apparel & Luxury Goods — 0.5%

473,427 13,704,274

Trading Companies & Distributors — 0.3%362,348 9,008,420

Wireless Telecommunication Services — 1.2%782,535 36,707,720

2,992,010,596








1,954,221$

1,954,612

1,027,113

1,027,113

2,981,725

2,981,725

2,994,992,321

9,893,466

$3,004,885,787




loaned securities.



S&P/TSX 60 Index

Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$12,148 $ 283,178

57



Common Stocks

Money Market Funds

Futures Contracts

NVS

iShares® MSCI Canada ETF Schedule of Investments (unaudited) (continued)

May 31, 2018





Investments

Assets

$2,992,010,596

$ —

$ —

$2,992,010,596

2,981,725

—

—

2,981,725

$2,994,992,321

$ —

$ —

$2,994,992,321


Assets

$ 283,178

$ —

$ —

$ 283,178





58



iShares® MSCI Chile ETFSchedule of Investments (unaudited)

May 31, 2018


Latam Airlines Group SA

Banco de Chile

Banco de Credito e Inversiones SA

Banco Santander ChileItau CorpBanca

Cia. Cervecerias Unidas SAVina Concha y Toro SA

Sociedad de Inversiones Oro Blanco SA

Besalco SASalfacorp SA

Inversiones La Construccion SA

Enel Americas SAEnel Chile SAEngie Energia Chile SA

Cencosud SASMU SA(a)

AES Gener SAColbun SA

SONDA SA

Cia. Sud Americana de Vapores SA(a)

CAP SA

Ripley Corp. SASACI Falabella


Common StocksAirlines — 4.3%

1,509,978$

18,184,566

Banks — 18.6%

114,890,935

17,815,721

272,677

19,179,532

377,715,984

30,287,1211,053,676,996 10,855,960

78,138,334Beverages — 4.5%

971,309 12,354,3142,997,591 6,401,258


349,097,558 3,477,905

Construction & Engineering — 2.1%3,617,336 3,993,8362,675,157 4,711,959

8,705,795Diversified Financial Services — 1.2%

292,634 5,114,545

Electric Utilities — 13.4%165,548,024 31,984,487154,039,206 16,628,962

3,799,518 7,625,924


7,015,776 18,586,1179,142,832 2,859,084

21,445,201Independent Power and Renewable Electricity Producers — 4.2%

21,881,765 5,709,94352,737,064 11,882,151

17,592,094IT Services — 1.4%

3,604,037 5,879,636

Marine — 0.3%33,249,223 1,281,195

Metals & Mining — 1.4%582,808 6,065,617

Multiline Retail — 10.7%5,462,957 5,472,5144,211,257 39,376,801

44,849,315

Empresas COPEC SA

Empresas CMPC SA

Parque Arauco SA

Empresas Tricot SA

Forus SA

Aguas Andinas SA, Class AInversiones Aguas Metropolitanas SA

Empresa Nacional de Telecomunicaciones SATotal Common Stocks — 91.2%(Cost: $252,266,305)

Embotelladora Andina SA, Class B, PreferenceShares

Sociedad Quimica y Minera de Chile SA, Series B,Preference SharesTotal Preferred Stocks — 8.7%(Cost: $16,822,941)






Oil, Gas & Consumable Fuels — 8.7% 2,396,391 $ 36,544,237

Paper & Forest Products — 4.5% 5,059,174 19,142,149

Real Estate Management & Development — 2.7% 3,960,091 11,437,066

Specialty Retail — 0.3% 784,973 1,219,578

Textiles, Apparel & Luxury Goods — 0.7%909,939 3,155,504

Water Utilities — 3.7%17,648,110 10,237,9803,205,824 5,243,185

15,481,165Wireless Telecommunication Services — 2.6%

1,022,744 10,928,440

383,637,287Preferred StocksBeverages — 1.9%

1,835,587 7,930,048

Chemicals — 6.8%

551,126 28,704,288


2,693,403 2,693,403

2,693,403

422,965,026(2,388,139)

$ 420,576,887




59




Common Stocks

Preferred Stocks

Money Market Funds

iShares® MSCI Chile ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates


Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



227,709 2,465,694 2,693,403 $2,693,403

$7,269

$—

$—




Investments

Assets

$383,637,287

$ —

$ —

$383,637,287

36,634,336

—

—

36,634,336

2,693,403

—

—

2,693,403

$422,965,026

$ —

$ —

$422,965,026



60



BlackRock Cash Funds: Institutional, SL Agency Shares

iShares® MSCI Colombia ETFSchedule of Investments (unaudited)

May 31, 2018



Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



59,106 (59,106) —$

—

$806(a)

$(15)

$4

Banco de Bogota SA

Bancolombia SAGrupo Aval Acciones y Valores SA

Bolsa de Valores de Colombia

Constructora Conconcreto SA

Cementos Argos SACemex Latam Holdings SA(a)

Grupo Argos SA/Colombia

Corp. Financiera Colombiana SAGrupo de Inversiones Suramericana SA

Empresa de Telecomunicaciones de Bogota(a)

Celsia SA ESPEnel Americas SAInterconexion Electrica SA ESP

Almacenes Exito SA

Grupo Nutresa SA

Grupo Energia Bogota SA ESPPromigas SA ESP

Mineros SA

Canacol Energy Ltd.(a)

Ecopetrol SA



6,745$

163,440

120,234

1,378,858 114,753 49,271


105,756 402,810

Construction & Engineering — 1.5%1,167,946 319,082

Construction Materials — 10.6%217,761 693,697212,527 654,947145,899 981,078


18,357 159,79774,298 954,964


2,703,269 374,413

Electric Utilities — 8.3%177,695 283,032

2,758,190 532,892204,508 1,002,711


173,188 989,473

Food Products — 4.4%108,489 969,938

Gas Utilities — 6.4%1,393,211 998,595

150,394 405,146

1,403,741Metals & Mining — 1.6%

448,282 358,563

Oil, Gas & Consumable Fuels — 19.1%190,733 627,837

2,771,095 2,964,913

Empresas COPEC SA


Avianca Holdings SA, Preference Shares, NVS

Banco Davivienda SA, Preference Shares, NVSBancolombia SA, Preference Shares, NVSGrupo Aval Acciones y Valores SA, Preference Shares,NVS

Cementos Argos SA, Preference Shares, NVSGrupo Argos SA/Colombia, Preference Shares, NVS

Grupo de Inversiones Suramericana SA, PreferenceShares, NVSTotal Preferred Stocks — 27.2%(Cost: $4,824,247)

BlackRock Cash Funds: Treasury, SL Agency Shares,1.64%(b)(c)


Total Investments in Securities — 99.8%(Cost: $17,739,675)Other Assets, Less Liabilities — 0.2%




39,295$

599,237

4,191,987

15,864,694Preferred StocksAirlines — 2.5%

563,789 543,681

Banks — 21.2%

87,725

1,046,744251,633 2,918,868

1,566,725 675,405

4,641,017Construction Materials — 3.3%

59,566 167,06595,584 562,647

729,712Diversified Financial Services — 0.2%

4,553 55,651


39,909 39,909

39,909

21,874,664

38,481

$21,913,145




BlackRock Cash Funds: Treasury, SL Agency Shares 57,311 (17,402) 39,909 39,909 341 — —

$

39,909

$ 1,147

$(15)

$4


61



Common Stocks

Preferred Stocks

Money Market Funds

NVS

iShares® MSCI Colombia ETF Schedule of Investments (unaudited) (continued)

May 31, 2018





Investments

Assets

$15,864,694

$ —

$ —

$15,864,694

5,970,061

—

—

5,970,061

39,909

—

—

39,909

$21,874,664

$ —

$ —

$21,874,664




62



iShares® MSCI EM ESG Optimized ETF Schedule of Investments (unaudited)

May 31, 2018


Ambev SA



Banco Bradesco SA

Banco do Brasil SA


Cielo SACosan SA Industria e ComercioEDP - Energias do Brasil SAKlabin SA, NVSLocaliza Rent a Car SANatura Cosmeticos SAUltrapar Participacoes SAWEG SA

Banco Santander ChileEmpresas COPEC SALatam Airlines Group SA

3SBio Inc.(a)(b)

58.com Inc., ADR(b)

AAC Technologies Holdings Inc.Agricultural Bank of China Ltd., Class HAir China Ltd., Class HAlibaba Group Holding Ltd., ADR(b)

Alibaba Pictures Group Ltd.(b)(c)

Baidu Inc., ADR(b)

Bank of China Ltd., Class HBBMG Corp., Class HBeijing Enterprises Water Group Ltd.(c)

Brilliance China Automotive Holdings Ltd.BYD Co. Ltd., Class HBYD Electronic International Co. Ltd.(c)

China Agri-Industries Holdings Ltd.China CITIC Bank Corp. Ltd., Class HChina Construction Bank Corp., Class HChina Everbright Bank Co. Ltd., Class HChina Everbright International Ltd.China Everbright Ltd.China Evergrande Group(b)

China Galaxy Securities Co. Ltd., Class HChina International Marine Containers Group Co. Ltd.,Class HChina Life Insurance Co. Ltd., Class HChina Longyuan Power Group Corp. Ltd., Class HChina Medical System Holdings Ltd.



386,400$

2,042,995

92,000

394,033

349,600

2,043,687

60,602

424,404

64,400

525,188

64,400

584,158

110,400

502,485119,600 1,246,084257,600 914,45455,200 311,12692,030 611,13694,000 851,138

119,600 1,605,779165,680 764,324

12,820,991Chile — 0.9%

16,832,596 1,349,72084,272 1,285,12226,128 314,658

2,949,500China — 30.0%

138,000 394,9573,864 313,834

78,500 1,181,8811,380,000 714,265

376,000 435,71861,916 12,259,987

6,580,000 855,61913,524 3,280,381

1,412,000 738,0281,472,000 645,536

368,000 221,903184,000 343,879188,000 1,219,915276,000 438,411644,000 273,391

1,564,000 1,062,7185,888,000 5,944,9352,116,000 1,054,743

736,000 1,099,663222,000 487,91592,000 269,755

1,196,000 748,629

211,600 330,720276,000 770,562

1,564,000 1,443,542188,000 452,975

Chongqing Rural Commercial Bank Co. Ltd., Class H

Country Garden Holdings Co. Ltd.

CSPC Pharmaceutical Group Ltd.

Ctrip.com International Ltd., ADR(b)

Fosun International Ltd.

GCL-Poly Energy Holdings Ltd.(b)

Geely Automobile Holdings Ltd.

Greentown China Holdings Ltd.Guangzhou Automobile Group Co. Ltd., Class HHaier Electronics Group Co. Ltd.HengTen Networks Group Ltd.(b)

Huaneng Renewables Corp. Ltd., Class HIndustrial & Commercial Bank of China Ltd., Class HJD.com Inc., ADR(b)

Kingboard Chemical Holdings Ltd.Kingboard Laminates Holdings Ltd.Lee & Man Paper Manufacturing Ltd.Lenovo Group Ltd.(c)

Momo Inc., ADR(b)

NetEase Inc., ADRNew Oriental Education & Technology Group Inc.,ADRPeople's Insurance Co. Group of China Ltd. (The),Class HPing An Insurance Group Co. of China Ltd., Class HSemiconductor Manufacturing International Corp.(b)

Shanghai Fosun Pharmaceutical Group Co. Ltd.,Class HShanghai Pharmaceuticals Holding Co. Ltd., Class HShenzhou International Group Holdings Ltd.Shui On Land Ltd.Sino Biopharmaceutical Ltd.Sinopharm Group Co. Ltd., Class HSinotrans Ltd., Class HSOHO China Ltd.Sunac China Holdings Ltd.Sunny Optical Technology Group Co. Ltd.TAL Education Group, Class A, ADR(b)

Tencent Holdings Ltd.Towngas China Co. Ltd.TravelSky Technology Ltd., Class HVipshop Holdings Ltd., ADR(b)

Weibo Corp., ADR(b)(c)

Xinjiang Goldwind Science & Technology Co. Ltd.,Class HYanzhou Coal Mining Co. Ltd., Class HYY Inc., ADR(b)

Zhongsheng Group Holdings Ltd.


China (continued)

368,000$

245,829

276,000

541,152

276,000

863,803

9,752

439,718

276,000

606,597

3,312,000

363,114

828,000

2,348,629

312,750

470,472368,000 623,95596,000 345,123

10,352,000 415,7092,944,000 1,264,8003,772,000 3,125,641

17,020 598,76492,000 365,929

230,000 304,941276,000 323,706

2,760,000 1,463,7159,844 452,0361,380 315,082

6,624 658,889

736,000 348,101368,000 3,607,682276,000 361,003

154,000 986,531349,600 1,080,78092,000 1,076,675

2,668,000 748,277276,000 698,079220,800 980,971

1,656,000 939,4521,748,000 913,649

188,000 715,41227,600 561,56010,856 460,946

377,200 19,196,247460,000 451,547190,000 555,89240,112 468,5083,128 318,774

294,400 471,391184,000 265,533

2,944 343,064184,000 589,943

97,322,938



63

China Mengniu Dairy Co. Ltd.China Merchants Bank Co. Ltd., Class HChina Minsheng Banking Corp. Ltd., Class HChina Molybdenum Co. Ltd., Class HChina National Building Material Co. Ltd., Class HChina Oilfield Services Ltd., Class HChina Pacific Insurance Group Co. Ltd., Class HChina Shenhua Energy Co. Ltd., Class HChina Travel International Investment Hong Kong Ltd.China Vanke Co. Ltd., Class H

184,000 668,524506,000 2,083,565920,000 877,291

1,380,000 874,359368,000 421,287328,000 342,880165,600 715,672330,000 862,426

1,924,000 853,569101,200 361,882

Bancolombia SACementos Argos SAGrupo Argos SA/Colombia

Komercni Banka AS

Commercial International Bank Egypt SAEGlobal Telecom Holding SAE(b)

Colombia — 0.9%21,068 241,611

563,776 1,795,959108,744 731,234


27,599 1,116,823

Egypt — 0.1%59,064 278,041

394,461 107,350

385,391



iShares® MSCI EM ESG Optimized ETF Schedule of Investments (unaudited) (continued)

May 31, 2018


Hellenic Telecommunications Organization SA


Axis Bank Ltd., GDR(d)

Housing Development Finance Corp. Ltd.

ICICI Bank Ltd., ADR, NVS

IDFC Bank Ltd.Infosys Ltd., ADR, NVS(c)

Mahindra & Mahindra Ltd., GDR, NVSReliance Industries Ltd., GDR, NVS(a)

Tata Consultancy Services Ltd.Wipro Ltd., ADR, NVS

Astra International Tbk PTBank Danamon Indonesia Tbk PTBank Mandiri Persero Tbk PTBank Rakyat Indonesia Persero Tbk PTKalbe Farma Tbk PTUnilever Indonesia Tbk PTUnited Tractors Tbk PT

Astro Malaysia Holdings BhdAxiata Group BhdCIMB Group Holdings BhdDiGi.Com BhdMaxis BhdNestle Malaysia BhdPetronas Dagangan BhdPublic Bank BhdSime Darby Plantation BhdSime Darby Property BhdTelekom Malaysia BhdTop Glove Corp. Bhd

Alsea SAB de CVArca Continental SAB de CVCoca-Cola Femsa SAB de CV, Series L, NVSGrupo Financiero Banorte SAB de CV, Class OIndustrias Penoles SAB de CVInfraestructura Energetica Nova SAB de CVKimberly-Clark de Mexico SAB de CV, Class A

Credicorp Ltd.


Greece — 0.2%

65,688$

785,945

Hungary — 0.6% 199,916 1,881,875

India — 8.8%

85,550

3,379,225

20,000

543,252

418,692

3,512,826

14,038

8,467415,656 7,560,783334,673 4,334,015210,701 5,583,576

3,912 100,930738,852 3,398,719

28,421,793Indonesia — 1.6%

2,189,600 1,087,315828,000 347,110

1,830,800 928,9052,732,400 605,6717,461,200 735,649

211,600 694,420358,800 905,069

5,304,139Malaysia — 3.3%

1,472,000 517,789257,600 282,195404,800 600,08019,000 21,101

772,800 1,124,24936,800 1,368,44282,800 520,933

726,800 4,357,148708,400 986,064929,200 268,488340,400 313,886110,400 284,599

10,644,974Mexico — 2.2%

119,600 390,909156,400 935,318441,600 2,578,891211,600 1,122,90021,620 363,942

138,000 574,690690,000 1,144,345

7,110,995Peru — 0.1%

1,656 366,672

Polski Koncern Naftowy ORLEN SA

Commercial Bank PQSC (The)

Ooredoo QPSCQatar Gas Transport Co. Ltd.

Alrosa PJSCGazprom PJSCGazprom PJSC, ADR, NVSInter RAO UES PJSCLUKOIL PJSCLUKOIL PJSC, ADR, NVSNovatek PJSC, GDR, NVS(d)

Novolipetsk Steel PJSCRosneft Oil Co. PJSCRusHydro PJSCSberbank of Russia PJSCSberbank of Russia PJSC, ADRTatneft PJSC

Barclays Africa Group Ltd.Clicks Group Ltd.Exxaro Resources Ltd.FirstRand Ltd.Foschini Group Ltd. (The)Growthpoint Properties Ltd.Imperial Holdings Ltd.Investec Ltd.Kumba Iron Ore Ltd.Mondi Ltd.Mr. Price Group Ltd.Naspers Ltd., Class NNedbank Group Ltd.NEPI Rockcastle PLCNetcare Ltd.Sanlam Ltd.Sasol Ltd.Standard Bank Group Ltd.Vodacom Group Ltd.Woolworths Holdings Ltd./South Africa

Amorepacific Corp.AMOREPACIFIC GroupBNK Financial Group Inc.Celltrion Inc.(b)

CJ CheilJedang Corp.DGB Financial Group Inc.


Poland (continued)

33,304$

733,638

2,854,633Qatar — 0.3%

32,384

334,701

37,720

692,954 22,292 89,717

1,117,372Russia — 3.2%

462,300 654,9457,360 17,123

61,042 277,25311,592,000 758,820

26,680 1,801,7113,408 227,450

13,354 1,924,311289,800 758,588

2,040 12,61146,368,000 538,539

73,710 262,968167,072 2,402,49556,120 600,120

10,236,934South Africa — 7.0%

42,780 546,12523,920 381,49252,440 519,017

228,436 1,082,20825,852 376,074

589,536 1,266,11860,352 972,685

250,608 1,823,01741,492 950,63028,704 794,87321,712 430,29726,312 6,286,62511,316 244,45871,852 703,486

400,936 937,364106,168 637,511

7,360 265,86795,312 1,560,814

207,644 2,352,697125,304 577,200

22,708,558South Korea — 14.2%

2,300 709,4496,256 731,255

164,588 1,455,0993,312 815,7481,932 628,198

97,152 932,811



64

SM Prime Holdings Inc.

Bank Handlowy w Warszawie SABank Zachodni WBK SAKGHM Polska Miedz SAmBank SA

Philippines — 0.4%1,895,200 1,334,762

Poland — 0.9%15,088 325,0264,646 435,749

40,112 918,5183,878 441,702

GS Engineering & Construction Corp.GS Holdings Corp.Hana Financial Group Inc.Hankook Tire Co. Ltd.Hanwha Chemical Corp.Hyundai Marine & Fire Insurance Co. Ltd.Hyundai Motor Co.Kangwon Land Inc.

7,360 334,90216,376 885,6828,188 315,989

14,996 596,11219,964 478,75111,960 377,7891,104 142,359

13,892 346,027




May 31, 2018


KB Financial Group Inc.

LG Chem Ltd.

LG Corp.

LG Display Co. Ltd.

LG Electronics Inc.

LG Household & Health Care Ltd.

LG Innotek Co. Ltd.

NAVER Corp.NCSoft Corp.POSCOSamsung Electro-Mechanics Co. Ltd.Samsung Electronics Co. Ltd.Samsung Fire & Marine Insurance Co. Ltd.Samsung SDI Co. Ltd.Shinhan Financial Group Co. Ltd.SK Holdings Co. Ltd.SK Hynix Inc.SK Innovation Co. Ltd.SK Telecom Co. Ltd.S-Oil Corp.

Acer Inc.ASE Industrial Holding Co. Ltd.Cathay Financial Holding Co. Ltd.China Steel Corp.Chunghwa Telecom Co. Ltd.Delta Electronics Inc.E.Sun Financial Holding Co. Ltd.Eva Airways Corp.Far Eastern New Century Corp.Far EasTone Telecommunications Co. Ltd.Fubon Financial Holding Co. Ltd.Hiwin Technologies Corp.Hotai Motor Co. Ltd.Inventec Corp.Lite-On Technology Corp.Macronix International(b)

MediaTek Inc.President Chain Store Corp.Taiwan Semiconductor Manufacturing Co. Ltd.Wistron Corp.

BTS Group Holdings PCL, NVDRKasikornbank PCL, NVDRMinor International PCL, NVDR



40,112$

1,927,549

5,336

1,675,621

10,304

701,622

56,488

1,163,350

17,858

1,534,070

1,104

1,375,455

2,944

393,280

1,840

1,141,945920 301,276

10,580 3,332,1686,624 823,430

286,396 13,470,2702,392 555,8663,496 650,260

72,772 2,953,5464,048 1,040,212

24,472 2,120,4004,324 826,3314,442 914,8144,232 422,042

46,073,678Taiwan — 12.1%

1,196,000 979,984292,186 741,156368,000 658,338368,000 289,865

1,362,000 4,954,959111,000 411,228

3,312,000 2,310,3252,208,441 1,116,6962,169,000 2,066,817

276,000 703,7831,288,000 2,239,701

17,380 246,53394,000 858,068

1,012,000 819,084368,039 480,294276,000 455,98595,000 987,684

206,000 2,110,7762,075,000 15,513,2421,659,529 1,249,016

39,193,534Thailand — 3.3%

9,117,200 2,764,515294,400 1,762,351

1,794,000 1,822,601

Abu Dhabi Commercial Bank PJSCFirst Abu Dhabi Bank PJSC


Banco Bradesco SA, Preference Shares, NVSCia. Brasileira de Distribuicao, Preference Shares,NVSCia. Energetica de Minas Gerais, Preference Shares,NVSItau Unibanco Holding SA, Preference Shares, NVSItausa-Investimentos Itau SA, Preference Shares,NVSTelefonica Brasil SA, Preference Shares, NVS

Embotelladora Andina SA, Class B, PreferenceSharesSociedad Quimica y Minera de Chile SA, Series B,Preference Shares

Bancolombia SA, Preference Shares, NVS

LG Chem Ltd., Preference Shares, NVSSamsung Electronics Co. Ltd., Preference Shares,NVS

Total Preferred Stocks — 3.8%(Cost: $13,284,074)


BlackRock Cash Funds: Treasury, SL Agency Shares,1.64%(e)(f)





United Arab Emirates — 0.6% 746,856 $ 1,429,399 193,016 646,338

2,075,737


303,655 2,378,490

37,600 802,674

386,482 795,993211,640 2,442,579

395,665 1,193,14164,400 786,832

8,399,709Chile — 0.3%

153,916 664,943

10,212 531,872

1,196,815Colombia — 0.1%

36,156 419,399

South Korea — 0.8%1,840 335,414

58,250 2,188,529

2,523,943


10,706,974 10,709,115

444,639 444,639

11,153,754

11,153,754

334,276,535(9,287,650)

$ 324,988,885


(b) Non-income producing security.(c) All or a portion of this security is on loan.(d) This security may be resold to qualified foreign investors and foreign institutional

buyers under Regulation S of the Securities Act of 1933.



65

PTT Exploration & Production PCL, NVDRPTT PCL, NVDRSiam Cement PCL (The), NVDRSiam Commercial Bank PCL (The), NVDR

Anadolu Efes Biracilik Ve Malt Sanayii ASArcelik ASCoca-Cola Icecek ASUlker Biskuvi Sanayi AS

178,600 750,913628,800 1,027,033138,000 1,923,976165,600 688,490

10,739,879Turkey — 0.7%

62,376 346,423267,352 979,27091,056 715,21184,548 326,084

2,366,988


loaned securities.





Common Stocks

Preferred Stocks

Money Market Funds

Futures Contracts

ADRGDRNVDRNVS


May 31, 2018

Affiliates


Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



3,986,796 6,720,178 10,706,974 $10,709,115

$37,190(a)

$(354)

$575

113,313 331,326 444,639 444,639 3,174 — —

$11,153,754

$40,364

$(354)

$575


Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$1,234 $ (46,033)





Investments

Assets

$309,465,543

$ 1,117,372

$ —

$310,582,915

12,539,866

—

—

12,539,866

11,153,754

—

—

11,153,754

$333,159,163

$ 1,117,372

$ —

$334,276,535


Liabilities

$ (46,033)

$ —

$ —

$ (46,033)





66



iShares® MSCI Emerging Markets Asia ETF Consolidated Schedule of Investments (unaudited)

May 31, 2018


3SBio Inc.(a)(b)(c)

58.com Inc., ADR(b)


Agile Group Holdings Ltd.

Agricultural Bank of China Ltd., Class A

Agricultural Bank of China Ltd., Class H

Air China Ltd., Class HAlibaba Group Holding Ltd., ADR(b)

Alibaba Health Information Technology Ltd.(b)(c)

Alibaba Pictures Group Ltd.(b)(c)

Aluminum Corp. of China Ltd., Class H(b)(c)

Anhui Conch Cement Co. Ltd., Class HANTA Sports Products Ltd.Autohome Inc., ADRAviChina Industry & Technology Co. Ltd., Class HBaidu Inc., ADR(b)

Bank of Beijing Co. Ltd., Class ABank of China Ltd., Class HBank of Communications Co. Ltd., Class ABank of Communications Co. Ltd., Class HBank of Jiangsu Co. Ltd., Class ABeijing Capital International Airport Co. Ltd., Class HBeijing Enterprises Holdings Ltd.Beijing Enterprises Water Group Ltd.(c)

BOE Technology Group Co. Ltd., Class ABrilliance China Automotive Holdings Ltd.BYD Co. Ltd., Class H(c)


CGN Power Co. Ltd., Class H(a)

Changjiang Securities Co. Ltd., Class AChina Cinda Asset Management Co. Ltd., Class HChina CITIC Bank Corp. Ltd., Class HChina Communications Construction Co. Ltd., Class HChina Communications Services Corp. Ltd., Class HChina Conch Venture Holdings Ltd.China Construction Bank Corp., Class AChina Construction Bank Corp., Class HChina Everbright Bank Co. Ltd., Class HChina Everbright International Ltd.China Everbright Ltd.China Evergrande Group(b)(c)

China Galaxy Securities Co. Ltd., Class HChina Gas Holdings Ltd.China Huarong Asset Management Co. Ltd., ClassH(a)

China Huishan Dairy Holdings Co. Ltd.(b)(d)

China International Marine Containers Group Co. Ltd.,Class AChina Jinmao Holdings Group Ltd.


Common StocksChina — 42.5%

148,000$

423,577

12,575

1,021,341

101,000

1,520,636

58,000

110,615

44,000

24,660

3,569,000

1,847,254

258,000

298,977155,802 30,850,354480,000 439,971

1,800,000 234,060570,000 300,109170,000 1,042,433151,000 870,101

7,341 827,478321,000 214,43237,496 9,095,03023,500 24,287

10,896,000 5,695,14926,200 24,623

1,183,000 936,54921,499 24,166

212,000 313,50869,500 384,086

778,000 469,13238,800 24,956

420,000 784,94290,000 584,00236,000 57,184

1,470,000 417,90423,700 23,458

1,242,000 449,6701,233,000 837,808

584,000 626,872358,000 230,477227,000 787,13421,900 24,343

11,608,000 11,720,245382,000 190,412335,000 500,526130,000 285,716563,000 1,650,784449,500 281,362234,600 973,494

937,000 315,35320,200 —

9,900 24,636688,000 392,935

China National Building Material Co. Ltd., Class H

China National Nuclear Power Co. Ltd., Class A

China Oilfield Services Ltd., Class H

China Overseas Land & Investment Ltd.

China Pacific Insurance Group Co. Ltd., Class H

China Petroleum & Chemical Corp., Class H

China Power International Development Ltd.

China Railway Construction Corp. Ltd., Class HChina Railway Group Ltd., Class HChina Resources Beer Holdings Co. Ltd.China Resources Gas Group Ltd.China Resources Land Ltd.China Resources Pharmaceutical Group Ltd.(a)

China Resources Power Holdings Co. Ltd.China Shenhua Energy Co. Ltd., Class HChina Southern Airlines Co. Ltd., Class HChina State Construction International Holdings Ltd.China Taiping Insurance Holdings Co. Ltd.China Telecom Corp. Ltd., Class HChina Unicom Hong Kong Ltd.China Vanke Co. Ltd., Class HChongqing Rural Commercial Bank Co. Ltd., Class HCIFI Holdings Group Co. Ltd.CITIC Ltd.CITIC Securities Co. Ltd., Class HCNOOC Ltd.COSCO SHIPPING Ports Ltd.Country Garden Holdings Co. Ltd.CRRC Corp. Ltd., Class HCSPC Pharmaceutical Group Ltd.Ctrip.com International Ltd., ADR(b)

Dongfeng Motor Group Co. Ltd., Class HENN Energy Holdings Ltd.Far East Horizon Ltd.Fosun International Ltd.Fullshare Holdings Ltd.(c)

Fuyao Glass Industry Group Co. Ltd., Class H(a)

GCL-Poly Energy Holdings Ltd.(b)

Geely Automobile Holdings Ltd.Gemdale Corp., Class AGF Securities Co. Ltd., Class HGOME Retail Holdings Ltd.(b)(c)

Great Wall Motor Co. Ltd., Class HGuangdong Investment Ltd.Guangzhou Automobile Group Co. Ltd., Class HGuangzhou R&F Properties Co. Ltd., Class HHaier Electronics Group Co. Ltd.Haitian International Holdings Ltd.(c)

Haitong Securities Co. Ltd., Class H


China (continued)

544,000$

622,772

24,500

23,408

238,000

248,797

530,000

1,773,615

363,200

1,569,638

3,494,600

3,417,015

87,000

24,179

273,500

309,965569,000 459,166224,000 1,087,995126,000 478,675379,777 1,394,36179,500 122,025

262,000 536,415456,000 1,191,716256,000 253,254268,000 331,065227,300 815,703

1,924,000 897,719842,000 1,144,257160,800 575,007353,000 235,809106,000 82,025807,000 1,199,572314,500 793,051

2,446,000 4,116,086236,000 227,150733,828 1,438,814590,750 527,929586,000 1,834,01653,932 2,431,794

378,000 431,290105,000 1,080,901303,000 321,767357,500 785,719600,000 283,01370,800 262,200

1,840,000 201,730673,000 1,908,97014,900 24,727

196,000 330,8251,550,000 173,888

415,000 404,728412,000 694,357292,000 495,095136,400 319,953171,000 614,75191,000 258,122

454,800 569,359



67

China Life Insurance Co. Ltd., Class HChina Longyuan Power Group Corp. Ltd., Class HChina Medical System Holdings Ltd.China Mengniu Dairy Co. Ltd.China Merchants Bank Co. Ltd., Class AChina Merchants Bank Co. Ltd., Class HChina Merchants Port Holdings Co. Ltd.China Minsheng Banking Corp. Ltd., Class HChina Mobile Ltd.China Molybdenum Co. Ltd., Class H

1,021,000 2,850,519421,000 388,575180,000 433,699379,000 1,377,013

5,500 24,712532,831 2,194,048176,000 401,624759,800 724,528842,500 7,518,342135,000 85,535

Hanergy Thin Film Power Group Ltd.(b)(d)

Hengan International Group Co. Ltd.(c)

Huaneng Power International Inc., Class HHuaneng Renewables Corp. Ltd., Class HHuatai Securities Co. Ltd., Class H(a)

Huaxia Bank Co. Ltd., Class AIndustrial & Commercial Bank of China Ltd., Class HIndustrial Securities Co. Ltd., Class AJD.com Inc., ADR(b)

Jiangsu Expressway Co. Ltd., Class HJiangxi Copper Co. Ltd., Class H

2,513 —100,500 957,064554,000 427,993686,000 294,719214,400 422,56019,000 24,709

10,111,000 8,378,40925,600 23,62090,030 3,167,255

174,000 262,636175,000 254,330



iShares® MSCI Emerging Markets Asia ETF Consolidated Schedule of Investments (unaudited) (continued)

May 31, 2018


Jihua Group Corp. Ltd., Class A

Kangmei Pharmaceutical Co. Ltd., Class A

Kingboard Chemical Holdings Ltd.

Kingsoft Corp. Ltd.

Kunlun Energy Co. Ltd.

Lee & Man Paper Manufacturing Ltd.

Lenovo Group Ltd.

Longfor Properties Co. Ltd.Luzhou Laojiao Co. Ltd., Class AMeitu Inc.(a)(b)

Momo Inc., ADR(b)

NetEase Inc., ADRNew China Life Insurance Co. Ltd., Class HNew Oriental Education & Technology Group Inc.,ADRNexteer Automotive Group Ltd.Nine Dragons Paper Holdings Ltd.People's Insurance Co. Group of China Ltd. (The),Class HPetroChina Co. Ltd., Class HPICC Property & Casualty Co. Ltd., Class HPing An Insurance Group Co. of China Ltd., Class APing An Insurance Group Co. of China Ltd., Class HPoly Real Estate Group Co. Ltd., Class ARiseSun Real Estate Development Co. Ltd., Class ASemiconductor Manufacturing International Corp.(b)(c)

Shandong Weigao Group Medical Polymer Co. Ltd.,Class HShanghai Electric Group Co. Ltd., Class H(b)

Shanghai Fosun Pharmaceutical Group Co. Ltd.,Class HShanghai Industrial Holdings Ltd.Shanghai Lujiazui Finance & Trade ZoneDevelopment Co. Ltd., Class BShanghai Pharmaceuticals Holding Co. Ltd., Class AShanghai Pharmaceuticals Holding Co. Ltd., Class HShenzhou International Group Holdings Ltd.Shimao Property Holdings Ltd.Sihuan Pharmaceutical Holdings Group Ltd.SINA Corp./China(b)

Sino Biopharmaceutical Ltd.Sino-Ocean Group Holding Ltd.Sinopec Shanghai Petrochemical Co. Ltd., Class HSinopharm Group Co. Ltd., Class HSOHO China Ltd.Sun Art Retail Group Ltd.Sunac China Holdings Ltd.Sunny Optical Technology Group Co. Ltd.


China (continued)

34,600$

23,605

5,900

24,648

20,000

79,550

115,000

362,850

468,000

425,989

83,000

97,346

968,000

513,361

208,000

623,1402,500 26,969

67,500 71,50914,485 665,15110,914 2,491,884

106,200 481,980

18,425 1,832,73541,000 67,635

239,000 380,248

990,000 468,2342,890,000 2,391,094

635,160 1,119,0392,600 25,219

712,000 6,980,08112,600 24,27416,600 24,024

404,300 528,817

268,000 230,618398,000 152,215

68,500 438,81464,000 170,114

131,480 195,9056,000 24,813

115,600 357,375104,000 1,217,111169,500 501,316550,000 142,335

7,951 722,110611,000 1,545,386442,000 298,643469,000 346,183165,200 733,951288,500 150,794337,000 396,968331,000 1,259,58298,000 1,993,945


Zhejiang Expressway Co. Ltd., Class H

Zhuzhou CRRC Times Electric Co. Ltd., Class H

Zijin Mining Group Co. Ltd., Class HZTE Corp., Class H(b)(d)

Adani Ports & Special Economic Zone Ltd.Ambuja Cements Ltd.Ashok Leyland Ltd.Asian Paints Ltd.Aurobindo Pharma Ltd.Axis Bank Ltd.Bajaj Auto Ltd.Bajaj Finance Ltd.Bajaj Finserv Ltd.Bharat Forge Ltd.Bharat Heavy Electricals Ltd.Bharat Petroleum Corp. Ltd.Bharti Airtel Ltd.Bharti Infratel Ltd.Bosch Ltd.Britannia Industries Ltd.Cadila Healthcare Ltd.(b)

Cipla Ltd./IndiaCoal India Ltd.Container Corp. of India Ltd.Dabur India Ltd.Dr. Reddy's Laboratories Ltd.Eicher Motors Ltd.GAIL India Ltd.Glenmark Pharmaceuticals Ltd.Godrej Consumer Products Ltd.Grasim Industries Ltd.Havells India Ltd.HCL Technologies Ltd.Hero MotoCorp Ltd.Hindalco Industries Ltd.Hindustan Petroleum Corp. Ltd.Hindustan Unilever Ltd.Housing Development Finance Corp. Ltd.ICICI Bank Ltd.Idea Cellular Ltd.(b)

IDFC Bank Ltd.Indiabulls Housing Finance Ltd.Indian Oil Corp. Ltd.Infosys Ltd.ITC Ltd.JSW Steel Ltd.Larsen & Toubro Ltd.


China (continued)

30,500$

25,468

206,000

206,154

80,000

402,848

800,000

333,497 111,960 271,188

227,626,711India — 11.2%

98,522

572,52578,480 238,874

162,815 357,20040,080 774,87336,901 304,198

246,532 1,994,32211,718 477,57622,776 712,1125,397 483,237

26,701 257,464114,065 141,393102,390 612,906167,635 928,06976,208 337,265

993 270,2761,498 131,502

31,164 166,85146,755 363,60693,600 410,9075,748 117,464

74,320 422,13715,611 448,0021,820 830,153

96,268 500,58117,963 142,66332,711 552,18445,843 706,36936,958 298,01378,498 1,058,9516,866 360,675

159,821 554,66385,868 396,81389,240 2,131,009

205,948 5,594,083326,170 1,381,386284,776 259,530

3,319 2,00242,870 789,457

154,876 399,569239,524 4,372,180467,283 1,881,042115,929 570,17565,264 1,325,348



68

TAL Education Group, Class A, ADR(b)


TravelSky Technology Ltd., Class HTsingtao Brewery Co. Ltd., Class HVipshop Holdings Ltd., ADR(b)

Want Want China Holdings Ltd.Weibo Corp., ADR(b)

Weichai Power Co. Ltd., Class HXCMG Construction Machinery Co. Ltd., Class AXinhu Zhongbao Co. Ltd., Class A(b)

Yanzhou Coal Mining Co. Ltd., Class HYum China Holdings Inc.YY Inc., ADR(b)

38,498 1,634,625777,600 39,573,175278,000 622,334135,000 394,97648,000 304,12554,805 640,122

701,000 695,2676,529 665,370

265,200 355,66737,600 24,12637,400 23,881

262,000 378,09652,856 2,077,2415,818 677,972

LIC Housing Finance Ltd.Lupin Ltd.Mahindra & Mahindra Financial Services Ltd.Mahindra & Mahindra Ltd.Marico Ltd.Maruti Suzuki India Ltd.Motherson Sumi Systems Ltd.Nestle India Ltd.NTPC Ltd.Oil & Natural Gas Corp. Ltd.

39,419 277,55329,787 340,03536,544 264,079

102,743 1,405,20465,434 312,08014,537 1,839,07383,830 385,2833,209 459,077

223,585 555,132179,211 472,443




May 31, 2018


Petronet LNG Ltd.

Piramal Enterprises Ltd.

Reliance Industries Ltd.

Rural Electrification Corp. Ltd.

Shree Cement Ltd.

Shriram Transport Finance Co. Ltd.

Siemens Ltd.

State Bank of India(b)

Sun Pharmaceutical Industries Ltd.Tata Consultancy Services Ltd.Tata Motors Ltd.(b)

Tata Power Co. Ltd. (The)Tata Steel Ltd.Tech Mahindra Ltd.Titan Co. Ltd.UltraTech Cement Ltd.United Spirits Ltd.(b)

UPL Ltd.Vakrangee Ltd.Vedanta Ltd.Wipro Ltd.Yes Bank Ltd.Zee Entertainment Enterprises Ltd.

Adaro Energy Tbk PTAKR Corporindo Tbk PTAstra International Tbk PTBank Central Asia Tbk PTBank Danamon Indonesia Tbk PTBank Mandiri Persero Tbk PTBank Negara Indonesia Persero Tbk PTBank Rakyat Indonesia Persero Tbk PTBank Tabungan Negara Persero Tbk PTBumi Serpong Damai Tbk PTCharoen Pokphand Indonesia Tbk PTGudang Garam Tbk PTHanjaya Mandala Sampoerna Tbk PTIndocement Tunggal Prakarsa Tbk PTIndofood CBP Sukses Makmur Tbk PTIndofood Sukses Makmur Tbk PTJasa Marga Persero Tbk PTKalbe Farma Tbk PTMatahari Department Store Tbk PTPakuwon Jati Tbk PTPerusahaan Gas Negara Persero Tbk PTSemen Indonesia Persero Tbk PT


India (continued)

27,668$

90,057

10,743

377,527

358,055

4,888,586

101,943

178,484

1,181

295,425

20,572

443,342

9,646

149,430

238,898

954,247133,282 948,720124,912 3,222,732221,275 926,317143,127 172,43348,833 416,56363,826 673,75244,083 587,99111,989 665,3228,246 408,570

48,454 508,07361,938 29,922

206,027 758,071154,459 599,456230,197 1,180,96172,338 596,059

60,011,604Indonesia — 2.7%

2,112,600 286,596286,500 101,445

2,782,200 1,381,5891,344,700 2,196,811

494,500 207,3022,569,700 1,303,8061,052,400 641,8927,615,700 1,688,115

369,400 81,0851,085,400 133,1851,010,600 267,651

65,600 323,3971,299,700 354,506

248,600 315,335295,500 185,020598,900 304,946345,598 110,681

2,900,600 285,989336,300 221,457

2,918,800 117,6341,435,000 213,778

409,000 247,254

Axiata Group Bhd(c)

British American Tobacco Malaysia Bhd(c)

CIMB Group Holdings Bhd

Dialog Group Bhd

DiGi.Com Bhd(c)

Felda Global Ventures Holdings Bhd

Gamuda Bhd(c)

Genting BhdGenting Malaysia Bhd(c)

Genting Plantations BhdHAP Seng Consolidated BhdHartalega Holdings BhdHong Leong Bank BhdHong Leong Financial Group BhdIHH Healthcare Bhd(c)

IJM Corp. BhdIOI Corp. BhdIOI Properties Group BhdKuala Lumpur Kepong BhdMalayan Banking BhdMalaysia Airports Holdings BhdMaxis Bhd(c)

MISC BhdNestle Malaysia Bhd(c)

Petronas Chemicals Group BhdPetronas Dagangan BhdPetronas Gas BhdPPB Group Bhd(c)

Press Metal Aluminium Holdings BhdPublic Bank BhdRHB Bank BhdRHB Bank Bhd, New(b)(d)

Sime Darby BhdSime Darby Plantation BhdSime Darby Property BhdSP Setia Bhd GroupTelekom Malaysia Bhd(c)

Tenaga Nasional Bhd(c)

UMW Holdings Bhd(b)(c)

Westports Holdings BhdYTL Corp. Bhd(c)

Habib Bank Ltd.Lucky Cement Ltd.MCB Bank Ltd.



372,400$

407,956

20,400

165,763

625,700

927,545

437,578

357,319

447,900

497,417

237,500

93,687

234,300

196,624

310,700

686,194394,600 493,74630,700 73,27988,000 216,683

178,600 273,73491,200 439,50130,100 142,937

293,800 442,915393,900 167,259300,800 349,926242,343 96,20663,700 398,525

522,500 1,268,17879,600 166,600

278,600 405,300176,300 260,020

3,600 133,869341,800 691,32933,100 208,24797,600 431,10861,900 309,81168,900 81,884

399,910 2,397,450110,262 147,93928,800 —

352,200 215,92292,700 129,035

280,800 81,136117,500 90,930155,300 143,204463,300 1,676,26178,200 125,749

143,300 124,217614,808 146,751

16,244,061Pakistan — 0.1%

68,900 102,04617,800 84,12758,600 103,522



69

Surya Citra Media Tbk PTTelekomunikasi Indonesia Persero Tbk PTTower Bersama Infrastructure Tbk PTUnilever Indonesia Tbk PTUnited Tractors Tbk PTWaskita Karya Persero Tbk PT

AirAsia Group BhdAlliance Bank Malaysia BhdAMMB Holdings BhdAstro Malaysia Holdings Bhd

934,600 165,4646,911,200 1,750,804

339,800 124,108207,500 680,964230,200 580,677809,800 135,210

14,406,701Malaysia — 3.0%

224,100 172,861132,800 141,475218,700 195,072206,100 72,497

Oil & Gas Development Co. Ltd.United Bank Ltd./Pakistan

Aboitiz Equity Ventures Inc.Aboitiz Power Corp.Alliance Global Group Inc.(b)

Ayala Corp.Ayala Land Inc.Bank of the Philippine IslandsBDO Unibank Inc.DMCI Holdings Inc.Globe Telecom Inc.

92,600 130,13779,200 115,883

535,715Philippines — 1.3%

272,410 299,708197,700 147,893615,500 155,82133,780 604,414

1,007,900 763,568117,382 212,262273,149 678,512518,000 106,488

4,515 138,882




May 31, 2018


GT Capital Holdings Inc.

International Container Terminal Services Inc.

JG Summit Holdings Inc.

Jollibee Foods Corp.

Manila Electric Co.

Megaworld Corp.

Metro Pacific Investments Corp.

Metropolitan Bank & Trust Co.PLDT Inc.Robinsons Land Corp.Security Bank Corp.SM Investments Corp.SM Prime Holdings Inc.Universal Robina Corp.

Amorepacific Corp.AMOREPACIFIC GroupBGF retail Co. Ltd.BNK Financial Group Inc.Celltrion Healthcare Co. Ltd.(b)(c)

Celltrion Inc.(b)(c)

Cheil Worldwide Inc.CJ CheilJedang Corp.CJ Corp.CJ E&M Corp.CJ Logistics Corp.(b)

Coway Co. Ltd.Daelim Industrial Co. Ltd.Daewoo Engineering & Construction Co. Ltd.(b)

DB Insurance Co. Ltd.DGB Financial Group Inc.Dongsuh Cos. Inc.Doosan Bobcat Inc.Doosan Heavy Industries & Construction Co. Ltd.(b)

E-MART Inc.GS Engineering & Construction Corp.(c)

GS Holdings Corp.GS Retail Co. Ltd.Hana Financial Group Inc.Hankook Tire Co. Ltd.Hanmi Pharm Co. Ltd.Hanmi Science Co. Ltd.Hanon SystemsHanssem Co. Ltd.Hanwha Chemical Corp.Hanwha Corp.


Philippines (continued)

12,640$

233,381

67,230

108,135

394,956

429,271

58,460

304,899

23,870

146,667

1,506,500

139,365

1,913,700

169,385

118,568

179,19911,705 288,528

310,090 130,15030,170 111,98432,659 539,597

1,182,850 833,064119,590 291,375

7,012,548South Korea — 19.5%

4,447 1,371,7034,062 474,801

992 167,94837,879 334,8831,020 94,435

11,153 2,746,99310,402 191,0661,123 365,1482,100 288,3252,772 232,9821,196 165,8727,514 608,5373,754 292,533

22,059 131,9926,956 377,500

24,722 237,3704,982 119,9344,646 146,1107,499 132,8732,835 657,4987,000 318,5217,339 396,9243,696 129,435

40,637 1,568,25410,104 401,648

860 385,3431,662 109,469

25,702 240,8181,393 146,026

14,281 342,4696,628 221,354

Industrial Bank of Korea

ING Life Insurance Korea Ltd.(a)

Kakao Corp.

Kangwon Land Inc.


KCC Corp.

KEPCO Plant Service & Engineering Co. Ltd.

Kia Motors Corp.Korea Aerospace Industries Ltd.(b)

Korea Electric Power Corp.Korea Gas Corp.(b)

Korea Investment Holdings Co. Ltd.Korea Zinc Co. Ltd.Korean Air Lines Co. Ltd.KT Corp.KT&G Corp.Kumho Petrochemical Co. Ltd.LG Chem Ltd.LG Corp.LG Display Co. Ltd.LG Electronics Inc.LG Household & Health Care Ltd.LG Innotek Co. Ltd.Lotte Chemical Corp.Lotte Corp.(b)

Lotte Shopping Co. Ltd.Medy-Tox Inc.Mirae Asset Daewoo Co. Ltd.NAVER Corp.NCSoft Corp.Netmarble Corp.(a)

NH Investment & Securities Co. Ltd.OCI Co. Ltd.Orion Corp./Republic of KoreaOttogi Corp.Pan Ocean Co. Ltd.(b)

POSCOPosco Daewoo Corp.S-1 Corp.Samsung Biologics Co. Ltd.(a)(b)(c)

Samsung C&T Corp.Samsung Card Co. Ltd.Samsung Electro-Mechanics Co. Ltd.Samsung Electronics Co. Ltd.Samsung Fire & Marine Insurance Co. Ltd.Samsung Heavy Industries Co. Ltd.(b)

Samsung Life Insurance Co. Ltd.



35,544$

514,390

1,934

72,125

6,213

596,545

16,319

406,480

54,533

2,620,538

850

271,650

3,170

118,954

36,250

1,047,5329,141 373,119

35,387 1,088,2503,804 212,7945,400 470,3931,205 453,2936,709 198,852

574 14,37715,913 1,417,1792,600 253,2596,295 1,976,768

12,994 884,79031,551 649,78214,619 1,255,8281,287 1,603,4521,851 247,2692,132 728,8303,898 211,9051,628 338,301

585 408,97649,897 435,1153,845 2,386,2932,379 779,0592,470 359,748

20,532 301,8992,384 293,0383,123 375,183

183 137,51128,476 133,66910,148 3,196,1094,911 104,3292,410 197,6382,288 923,308

10,444 1,215,9404,658 160,3157,765 965,267

665,724 31,311,4774,249 987,406

52,565 365,2419,609 918,157



70

Hanwha Life Insurance Co. Ltd.Hotel Shilla Co. Ltd.Hyosung Corp.Hyundai Department Store Co. Ltd.Hyundai Development Co. Engineering & ConstructionHyundai Engineering & Construction Co. Ltd.Hyundai Glovis Co. Ltd.Hyundai Heavy Industries Co. Ltd.(b)

Hyundai Heavy Industries Holdings Co. Ltd.(b)

Hyundai Marine & Fire Insurance Co. Ltd.Hyundai Mobis Co. Ltd.Hyundai Motor Co.Hyundai Steel Co.

34,035 175,8664,449 511,7832,771 344,4631,909 199,2328,640 371,906

10,805 739,7462,691 335,7674,952 526,0021,380 496,7218,946 282,5849,352 1,891,309

21,182 2,731,38611,152 639,356

Samsung SDI Co. Ltd.Samsung SDS Co. Ltd.Samsung Securities Co. Ltd.Shinhan Financial Group Co. Ltd.Shinsegae Inc.SillaJen Inc.(b)

SK Holdings Co. Ltd.SK Hynix Inc.SK Innovation Co. Ltd.SK Telecom Co. Ltd.S-Oil Corp.Woori Bank

7,545 1,403,3794,833 946,0219,674 331,157

58,672 2,381,2791,031 419,879

895 66,8384,325 1,111,392

79,758 6,910,7088,896 1,700,0572,801 576,8566,135 611,821

53,418 758,194




May 31, 2018


Yuhan Corp.

Acer Inc.

Advantech Co. Ltd.

Airtac International Group

ASE Industrial Holding Co. Ltd.

Asia Cement Corp.Asustek Computer Inc.AU Optronics Corp.Catcher Technology Co. Ltd.Cathay Financial Holding Co. Ltd.Chailease Holding Co. Ltd.Chang Hwa Commercial Bank Ltd.Cheng Shin Rubber Industry Co. Ltd.Chicony Electronics Co. Ltd.China Airlines Ltd.(b)

China Development Financial Holding Corp.China Life Insurance Co. Ltd./TaiwanChina Steel Corp.Chunghwa Telecom Co. Ltd.Compal Electronics Inc.CTBC Financial Holding Co. Ltd.Delta Electronics Inc.E.Sun Financial Holding Co. Ltd.Eclat Textile Co. Ltd.Eva Airways Corp.Evergreen Marine Corp. Taiwan Ltd.(b)

Far Eastern New Century Corp.Far EasTone Telecommunications Co. Ltd.Feng TAY Enterprise Co. Ltd.First Financial Holding Co. Ltd.Formosa Chemicals & Fibre Corp.Formosa Petrochemical Corp.Formosa Plastics Corp.Formosa Taffeta Co. Ltd.Foxconn Technology Co. Ltd.Fubon Financial Holding Co. Ltd.General Interface Solution Holding Ltd.Giant Manufacturing Co. Ltd.Globalwafers Co. Ltd.Highwealth Construction Corp.Hiwin Technologies Corp.Hon Hai Precision Industry Co. Ltd.Hotai Motor Co. Ltd.HTC Corp.(b)

Hua Nan Financial Holdings Co. Ltd.Innolux Corp.Inventec Corp.



1,169$

258,103

104,102,902Taiwan — 15.0%

432,062

354,025

49,282

333,903

5,000

85,944

458,484

1,162,985

323,229

356,54896,000 869,916

1,182,000 518,77689,000 1,035,212

1,121,944 2,007,116161,496 576,743633,294 370,953283,776 431,89480,173 189,451

370,000 125,3441,801,200 676,318

339,640 356,5131,708,867 1,346,036

526,000 1,913,589585,000 384,644

2,401,265 1,731,132268,000 992,874

1,252,766 873,88225,604 312,770

314,628 159,091318,437 157,829439,460 418,757223,000 568,63649,064 217,797

1,242,817 844,128400,950 1,538,950185,000 750,213565,400 2,028,620107,000 119,101123,521 304,252906,396 1,576,13025,000 159,78845,000 195,25130,000 593,762

123,840 187,65230,540 433,206

2,130,314 6,093,41737,000 337,75094,000 183,849

972,011 580,7121,229,620 476,064

350,980 284,073

Phison Electronics Corp.

Pou Chen Corp.

Powertech Technology Inc.

President Chain Store Corp.

Quanta Computer Inc.

Realtek Semiconductor Corp.

Ruentex Development Co. Ltd.(b)

Ruentex Industries Ltd.Shin Kong Financial Holding Co. Ltd.SinoPac Financial Holdings Co. Ltd.Standard Foods Corp.Synnex Technology International Corp.TaiMed Biologics Inc.(b)

Taishin Financial Holding Co. Ltd.Taiwan Business BankTaiwan Cement Corp.Taiwan Cooperative Financial Holding Co. Ltd.Taiwan High Speed Rail Corp.Taiwan Mobile Co. Ltd.Taiwan Semiconductor Manufacturing Co. Ltd.Teco Electric and Machinery Co. Ltd.Uni-President Enterprises Corp.United Microelectronics Corp.Vanguard International Semiconductor Corp.Win Semiconductors Corp.Winbond Electronics Corp.Wistron Corp.WPG Holdings Ltd.Yageo Corp.Yuanta Financial Holding Co. Ltd.Zhen Ding Technology Holding Ltd.

Advanced Info Service PCL, NVDRAirports of Thailand PCL, NVDRBangkok Bank PCLBangkok Dusit Medical Services PCL, NVDRBangkok Expressway & Metro PCL, NVDR(c)

Banpu PCL, NVDRBerli Jucker PCL, NVDR(c)

BTS Group Holdings PCL, NVDRBumrungrad Hospital PCL, NVDRCentral Pattana PCL, NVDRCharoen Pokphand Foods PCL, NVDRCP ALL PCL, NVDRDelta Electronics Thailand PCL, NVDRElectricity Generating PCL, NVDR


Taiwan (continued)

22,000$

202,293

301,000

368,697

103,000

307,334

78,000

799,226

373,000

659,813

66,140

252,759

134,065

161,756

79,855

163,3801,142,138 457,4421,398,529 518,121

90,987 185,852197,050 315,68525,000 262,837

1,297,305 638,661429,768 131,248488,000 710,138

1,131,948 666,819238,000 183,893223,000 818,717

3,070,000 22,952,122253,000 203,927663,650 1,619,172

1,659,000 921,928129,000 282,442

9,000 73,144129,000 86,326343,119 258,243218,000 316,506

7,000 222,1851,395,893 656,913

66,455 150,160

80,222,924Thailand — 3.1%

140,800 838,462596,100 1,276,42536,900 222,623

537,800 449,7081,108,800 284,219

292,600 192,079162,500 289,544816,900 247,70048,300 290,645

190,500 454,068430,300 336,277681,500 1,720,26069,400 139,92818,900 142,385



71

Largan Precision Co. Ltd.Lite-On Technology Corp.Macronix International(b)

MediaTek Inc.Mega Financial Holding Co. Ltd.Micro-Star International Co. Ltd.Nan Ya Plastics Corp.Nanya Technology Corp.Nien Made Enterprise Co. Ltd.Novatek Microelectronics Corp.Pegatron Corp.

14,000 1,915,792281,032 366,74955,000 90,867

206,176 2,143,5451,497,542 1,312,033

95,000 396,342642,090 1,793,73397,000 322,45422,000 174,39083,000 375,365

269,000 568,319

Energy Absolute PCL, NVDR(c)

Glow Energy PCL, NVDRHome Product Center PCL, NVDRIndorama Ventures PCL, NVDRIRPC PCL, NVDRKasikornbank PCLKasikornbank PCL, NVDRKrung Thai Bank PCL, NVDRMinor International PCL, NVDRPTT Exploration & Production PCL, NVDRPTT Global Chemical PCL, NVDRPTT PCL, NVDRRobinson PCL, NVDR

168,300 203,86469,200 183,870

553,345 252,543205,900 374,919

1,434,900 296,041159,800 974,08663,300 378,929

495,550 271,089292,680 297,346191,210 803,931306,900 856,231

1,447,900 2,364,88878,300 154,201





May 31, 2018



Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



9,807,306 581,568 10,388,874 $10,390,952

$177,545(a)

$(2,441)

$800

768,227 (768,227) — — 11,652 — —

$10,390,952

$189,197

$(2,441)

$800



Siam Cement PCL (The), NVDR

Siam Commercial Bank PCL (The), NVDR

Thai Oil PCL, NVDR

Thai Union Group PCL, NVDR

TMB Bank PCL, NVDRTrue Corp. PCL, NVDR




LG Chem Ltd., Preference Shares, NVSLG Household & Health Care Ltd., Preference Shares,NVSSamsung Electronics Co. Ltd., Preference Shares,NVS




15,200$

211,916

243,600

1,012,779

119,000

342,232

291,000

157,371

1,706,500

132,295 1,398,505 312,576

16,465,430

526,628,596Preferred StocksSouth Korea — 1.1%

1,184 178,487Hyundai Motor Co.

3,214 266,5545,247 459,9861,056 192,499

303 206,038

120,997 4,546,016

5,849,580

5,849,580







10,388,874 $ 10,390,952

10,390,952

542,869,128(7,942,372)

$ 534,926,756


(b) Non-income producing security.(c) All or a portion of this security is on loan.(d) Security is valued using significant unobservable inputs and is classified as Level

3 in the fair value hierarchy.(e) Affiliate of the Fund.(f) Annualized 7-day yield as of period-end.(g) All or a portion of this security was purchased with cash collateral received from

loaned securities.



Common Stocks

Preferred Stocks

Money Market Funds



Investments

Assets

$525,641,039

$ 716,369

$ 271,188

$526,628,596

5,849,580

—

—

5,849,580

10,390,952

—

—

10,390,952

$541,881,571

$ 716,369

$ 271,188

$542,869,128

72



ADRNVDRNVS


May 31, 2018


73





iShares® MSCI Emerging Markets ETF Consolidated Schedule of Investments (unaudited)

May 31, 2018


Ambev SAAtacadao Distribuicao Comercio e IndustriaLtda


Banco Bradesco SA

Banco do Brasil SA


BB Seguridade Participacoes SABR Malls Participacoes SABRF SA(a)


Cia. de Saneamento Basico do Estado de SaoPauloCia. Siderurgica Nacional SA(a)

Cielo SACosan SA Industria e ComercioEDP - Energias do Brasil SAEmbraer SAEngie Brasil Energia SAEquatorial Energia SAFibria Celulose SAHypera SAIRB Brasil Resseguros S/AJBS SAKlabin SA, NVSKroton Educacional SALocaliza Rent a Car SALojas Renner SAM. Dias Branco SAMagazine Luiza SAMultiplan Empreendimentos Imobiliarios SANatura Cosmeticos SAOdontoprev SAPetrobras Distribuidora SAPetroleo Brasileiro SAPorto Seguro SARaia Drogasil SARumo SA(a)

Sul America SA, NVSSuzano Papel e Celulose SATIM Participacoes SAUltrapar Participacoes SAVale SAWEG SA

Aguas Andinas SA, Class ABanco de ChileBanco de Credito e Inversiones SA



32,450,215$

171,572,544

2,756,400

11,805,583

14,289,401

83,532,783

7,039,791

49,300,560

5,920,774

48,284,504

2,862,300

25,963,264

4,819,900

33,728,4935,822,288 16,103,3193,206,985 18,445,9448,414,500 23,272,8751,430,900 5,621,317

2,379,624 16,709,5414,370,028 9,035,6518,464,176 38,524,6661,134,300 11,818,0052,176,300 7,725,6444,661,700 28,152,5851,156,700 11,489,1941,409,800 23,013,0481,733,561 32,948,3892,413,100 18,272,961

649,100 8,404,7215,904,665 14,158,9564,788,900 26,991,8539,647,280 28,003,6783,503,989 23,268,6594,956,790 39,491,403

713,200 8,043,501527,900 15,368,998613,803 9,670,069

1,248,400 11,303,8351,909,100 7,156,4662,281,000 11,147,595

20,662,874 123,121,111720,400 8,223,360

1,603,000 26,803,8327,596,800 28,171,4281,423,236 7,482,9723,071,600 35,548,9215,928,676 21,348,6782,499,700 33,561,580

21,947,809 298,389,5415,289,206 24,400,467

1,495,382,494Chile — 1.0%

19,155,816 11,112,627173,256,690 26,866,287

280,109 19,702,284

Itau CorpBanca

Latam Airlines Group SASACI Falabella

3SBio Inc.(a)(b)(c)

51job Inc., ADR(a)

58.com Inc., ADR(a)

AAC Technologies Holdings Inc.Agile Group Holdings Ltd.(c)

Agricultural Bank of China Ltd., Class AAgricultural Bank of China Ltd., Class HAir China Ltd., Class HAlibaba Group Holding Ltd., ADR(a)(c)


Alibaba Pictures Group Ltd.(a)(c)


Angang Steel Co. Ltd., Class AAngang Steel Co. Ltd., Class HAnhui Conch Cement Co. Ltd., Class HANTA Sports Products Ltd.Autohome Inc., ADR(c)

AviChina Industry & Technology Co. Ltd.,Class HBAIC Motor Corp. Ltd., Class H(b)

Baidu Inc., ADR(a)

Bank of Beijing Co. Ltd., Class ABank of China Ltd., Class HBank of Communications Co. Ltd., Class ABank of Communications Co. Ltd., Class HBank of Shanghai Co. Ltd., Class ABaoshan Iron & Steel Co. Ltd., Class ABBMG Corp., Class HBeijing Capital International Airport Co. Ltd.,Class HBeijing Enterprises Holdings Ltd.Beijing Enterprises Water Group Ltd.(c)


BOE Technology Group Co. Ltd., Class ABrilliance China Automotive Holdings Ltd.(c)

BYD Co. Ltd., Class H(c)


CAR Inc.(a)

CGN Power Co. Ltd., Class H(b)

China Agri-Industries Holdings Ltd.China Cinda Asset Management Co. Ltd.,Class HChina CITIC Bank Corp. Ltd., Class HChina Coal Energy Co. Ltd., Class HChina Communications Construction Co. Ltd.,Class H


Chile (continued)

1,087,151,297$

11,200,843

2,110,105

25,411,856 4,998,998 46,742,469

374,329,251China — 33.1%

7,942,000

22,730,047

171,539

18,251,750

642,737

52,203,0995,095,500 76,716,859

11,042,000 21,058,7927,603,600 4,261,515

196,652,000 101,783,76513,172,000 15,264,0487,996,663 1,583,419,241

23,442,000 21,487,09390,680,000 11,791,41127,994,000 14,739,0372,623,301 2,481,8254,632,000 4,594,1198,824,500 54,111,4657,523,402 43,351,768

409,477 46,156,247

15,206,000 10,157,81711,929,500 11,588,6091,910,502 463,411,3653,155,727 3,261,428

554,119,000 289,628,3092,709,600 2,546,549

55,812,600 44,185,3161,018,761 2,476,3461,405,874 1,848,029

15,543,000 6,816,280

11,678,000 17,269,5323,633,000 20,077,453

38,912,000 23,463,8251,392,800 8,647,1272,784,700 1,791,125

21,112,000 39,456,4004,522,500 29,346,1054,785,500 7,601,5034,382,000 4,904,797

75,712,000 21,524,03511,949,000 5,072,592

64,115,000 23,213,04463,108,800 42,881,62611,875,000 5,222,841

31,555,000 33,871,497



74

Banco Santander ChileCencosud SACia. Cervecerias Unidas SAColbun SAEmpresa Nacional de Telecomunicaciones SAEmpresas CMPC SAEmpresas COPEC SAEnel Americas SAEnel Chile SA

457,265,257 36,665,7739,799,713 25,961,2921,024,337 13,028,790

56,918,903 12,824,3581,048,954 11,208,5048,874,467 33,577,8872,582,599 39,383,853

200,336,340 38,705,717203,206,522 21,936,711

China Communications Services Corp. Ltd.,Class HChina Conch Venture Holdings Ltd.China Construction Bank Corp., Class AChina Construction Bank Corp., Class HChina Eastern Airlines Corp. Ltd., Class AChina Eastern Airlines Corp. Ltd., Class HChina Everbright Bank Co. Ltd., Class HChina Everbright International Ltd.(c)

China Everbright Ltd.China Evergrande Group(a)(c)

17,350,000 11,169,78911,506,000 39,897,6561,838,400 2,043,480

663,137,760 669,550,0543,428,020 3,938,8695,118,000 4,071,355

13,977,000 6,966,98417,830,000 26,639,9296,684,000 14,690,204

18,253,388 53,521,149



iShares® MSCI Emerging Markets ETF Consolidated Schedule of Investments (unaudited) (continued)

May 31, 2018



China Galaxy Securities Co. Ltd., Class H

China Gas Holdings Ltd.China Huarong Asset Management Co. Ltd.,Class H(b)


China International Capital Corp. Ltd., ClassH(b)

China International Marine Containers GroupCo. Ltd., Class AChina International Marine Containers GroupCo. Ltd., Class HChina International Travel Service Corp. Ltd.,Class AChina Jinmao Holdings Group Ltd.China Life Insurance Co. Ltd., Class HChina Literature Ltd.(a)(b)

China Lodging Group Ltd., ADRChina Longyuan Power Group Corp. Ltd.,Class HChina Medical System Holdings Ltd.China Mengniu Dairy Co. Ltd.China Merchants Bank Co. Ltd., Class AChina Merchants Bank Co. Ltd., Class HChina Merchants Port Holdings Co. Ltd.China Merchants Shekou Industrial ZoneHoldings Co. Ltd., Class AChina Minsheng Banking Corp. Ltd., Class AChina Minsheng Banking Corp. Ltd., Class HChina Mobile Ltd.China Molybdenum Co. Ltd., Class HChina National Building Material Co. Ltd.,Class HChina Oilfield Services Ltd., Class HChina Overseas Land & Investment Ltd.China Pacific Insurance Group Co. Ltd., ClassHChina Petroleum & Chemical Corp., Class AChina Petroleum & Chemical Corp., Class HChina Power International Development Ltd.China Railway Construction Corp. Ltd., ClassHChina Railway Group Ltd., Class HChina Railway Signal & Communication Corp.Ltd., Class H(b)

China Reinsurance Group Corp., Class HChina Resources Beer Holdings Co. Ltd.China Resources Cement Holdings Ltd.China Resources Gas Group Ltd.(c)

China Resources Land Ltd.China Resources Pharmaceutical Group Ltd.(b)(c)


China (continued)

22,020,000$

22,064,494

24,004,500

15,025,477

12,144,600

50,395,101

70,163,000

23,613,817

8,317,264

11

6,832,000

14,405,803

1,040,100

2,588,295

1,753,800

2,741,099

70,600 745,62936,688,000 20,953,48051,863,000 144,795,7651,217,800 11,372,022

920,904 40,528,985

22,542,000 20,805,8349,682,000 23,328,187

19,258,000 69,969,7231,278,891 5,746,120

27,031,467 111,307,9669,392,000 21,432,125

618,983 2,047,6706,417,961 7,674,961

39,192,040 37,372,62342,593,500 380,097,90727,111,000 17,177,345

27,780,000 31,802,60413,210,000 13,809,27226,980,960 90,290,242

18,915,200 81,745,6682,579,777 2,839,368

176,696,800 172,773,90924,872,000 6,912,280

14,087,000 15,965,20128,103,000 22,678,300

9,000,000 7,033,26727,293,000 6,123,75810,332,000 50,183,79312,908,000 15,204,9516,362,000 24,169,298

19,415,333 71,283,898

12,057,500 18,507,078

China Vanke Co. Ltd., Class A

China Vanke Co. Ltd., Class H

China Yangtze Power Co. Ltd., Class A

China Zhongwang Holdings Ltd.

Chong Sing Holdings FinTech Group Ltd.(a)

Chongqing Changan Automobile Co. Ltd.,Class BChongqing Rural Commercial Bank Co. Ltd.,Class H

CIFI Holdings Group Co. Ltd.CITIC Ltd.CITIC Securities Co. Ltd., Class HCNOOC Ltd.COSCO SHIPPING Development Co. Ltd.,Class H(a)

COSCO SHIPPING Energy Transportation Co.Ltd., Class HCOSCO SHIPPING Holdings Co. Ltd., ClassA(a)

COSCO SHIPPING Holdings Co. Ltd., ClassH(a)


Country Garden Holdings Co. Ltd.CRRC Corp. Ltd., Class ACRRC Corp. Ltd., Class HCSPC Pharmaceutical Group Ltd.Ctrip.com International Ltd., ADR(a)(c)


Daqin Railway Co. Ltd., Class ADatang International Power Generation Co.Ltd., Class H(a)

Dongfeng Motor Group Co. Ltd., Class HENN Energy Holdings Ltd.Fang Holdings Ltd., ADR(a)

Far East Horizon Ltd.Focus Media Information Technology Co. Ltd.,Class AFoshan Haitian Flavouring & Food Co. Ltd.,Class AFosun International Ltd.Fullshare Holdings Ltd.(c)

Future Land Development Holdings Ltd.Fuyao Glass Industry Group Co. Ltd., ClassH(b)

GCL-Poly Energy Holdings Ltd.(a)(c)

GDS Holdings Ltd., ADR(a)

Geely Automobile Holdings Ltd.Genscript Biotech Corp.GF Securities Co. Ltd., Class H


China (continued)

647,400$

2,586,386

8,560,531

30,611,716

1,519,295

4,058,284

9,414,800

5,100,986

104,468,000

13,850,668

3,487,200

3,818,775

18,276,000

12,208,619

23,060,000

17,844,40641,282,000 61,363,96215,002,000 37,829,409

124,244,000 209,075,655

2,467,000 468,608

4,826,000 2,731,646

2,702,399 2,581,970

13,458,000 7,566,12011,974,000 11,524,98452,851,939 103,626,6291,988,500 2,843,619

29,019,300 25,933,37632,642,000 102,160,3492,724,447 122,845,315

12,869,500 9,925,9291,756,067 2,302,877

17,804,000 5,742,38419,332,000 22,057,3805,351,000 55,084,7771,387,054 7,032,364

14,430,000 15,323,764

915,797 1,785,714

257,700 3,014,93918,116,000 39,815,63848,425,000 22,841,54412,198,000 9,563,522

3,615,200 13,388,52093,095,000 10,206,549

410,674 15,527,58434,218,000 97,059,6565,480,000 20,469,2679,928,000 16,757,293



75

China Resources Power Holdings Co. Ltd.China Shenhua Energy Co. Ltd., Class HChina Southern Airlines Co. Ltd., Class HChina State Construction Engineering Corp.Ltd., Class AChina State Construction InternationalHoldings Ltd.China Taiping Insurance Holdings Co. Ltd.China Telecom Corp. Ltd., Class HChina Traditional Chinese Medicine HoldingsCo. Ltd.China Travel International Investment HongKong Ltd.China Unicom Hong Kong Ltd.

12,368,999 25,324,11123,729,000 62,013,66613,356,000 13,212,720

2,409,200 3,095,445

14,492,000 17,902,19211,323,260 40,635,34897,872,000 45,666,072

15,374,000 14,111,510

12,860,000 5,705,24542,752,000 58,098,879

GOME Retail Holdings Ltd.(a)(c)

Great Wall Motor Co. Ltd., Class H(c)

Gree Electric Appliances Inc. of Zhuhai, ClassAGreentown China Holdings Ltd.Guangdong Investment Ltd.Guangzhou Automobile Group Co. Ltd., ClassHGuangzhou R&F Properties Co. Ltd., Class HGuotai Junan Securities Co. Ltd., Class A(a)


Haier Electronics Group Co. Ltd.Haitian International Holdings Ltd.Haitong Securities Co. Ltd., Class HHangzhou Hikvision Digital Technology Co.Ltd., Class AHengan International Group Co. Ltd.(c)

82,616,200 9,268,34121,708,000 21,170,707

267,600 1,984,4045,004,000 7,527,546

21,046,110 35,469,691

14,752,742 25,013,7326,888,800 16,159,0382,492,900 6,534,4031,549,000 3,601,8898,976,000 32,269,0414,683,000 13,283,370

23,315,600 29,188,528

747,596 4,569,2945,070,000 48,281,713




May 31, 2018


HengTen Networks Group Ltd.(a)

Huadian Power International Corp. Ltd., ClassH

Huaneng Power International Inc., Class H

Huaneng Renewables Corp. Ltd., Class H

Huatai Securities Co. Ltd., Class H(b)

Industrial & Commercial Bank of China Ltd.,Class AIndustrial & Commercial Bank of China Ltd.,Class H

Industrial Bank Co. Ltd., Class AInner Mongolia Yili Industrial Group Co. Ltd.,Class AInner Mongolia Yitai Coal Co. Ltd., Class BJD.com Inc., ADR(a)(c)

Jiangsu Expressway Co. Ltd., Class HJiangsu Hengrui Medicine Co. Ltd., Class AJiangsu Yanghe Brewery Joint-Stock Co. Ltd.,Class AJiangxi Copper Co. Ltd., Class HJiayuan International Group Ltd.(a)

Kaisa Group Holdings Ltd.(a)

Kangmei Pharmaceutical Co. Ltd., Class AKingboard Chemical Holdings Ltd.Kingboard Laminates Holdings Ltd.Kingdee International Software Group Co. Ltd.Kingsoft Corp. Ltd.(c)

Kunlun Energy Co. Ltd.Kweichow Moutai Co. Ltd., Class AKWG Property Holdings Ltd.Lee & Man Paper Manufacturing Ltd.Legend Holdings Corp., Class H(b)

Lenovo Group Ltd.(c)

Logan Property Holdings Co. Ltd.Longfor Properties Co. Ltd.Luye Pharma Group Ltd.Meitu Inc.(a)(b)

Metallurgical Corp. of China Ltd., Class AMetallurgical Corp. of China Ltd., Class HMidea Group Co. Ltd., Class AMMG Ltd.(a)

Momo Inc., ADR(a)

NetEase Inc., ADRNew China Life Insurance Co. Ltd., Class HNew Oriental Education & Technology GroupInc., ADRNexteer Automotive Group Ltd.(c)

Nine Dragons Paper Holdings Ltd.Noah Holdings Ltd., ADR(a)


China (continued)

143,328,000$

5,755,668

8,712,000

4,009,398

30,386,000

23,474,712

34,252,000

14,715,328

11,790,000

23,236,858

3,512,504

3,103,728

480,264,085

397,967,473

1,879,400

4,673,964

546,989 2,649,7863,000,000 4,011,0004,997,537 175,813,3528,844,000 13,349,179

314,594 3,739,010

111,187 2,494,0249,030,000 13,123,4106,702,000 12,850,096

12,674,000 6,882,994627,388 2,621,034

4,817,000 19,159,5527,192,500 9,536,024

13,578,000 14,903,6645,688,000 17,946,878

23,112,000 21,037,29373,536 8,623,141

8,560,500 11,808,11311,148,000 13,074,9162,152,800 6,861,164

51,730,000 27,434,0509,242,000 13,902,794

10,547,500 31,598,8677,773,500 8,532,452

11,847,500 12,551,1025,239,399 3,010,091

10,433,000 3,125,584517,400 4,273,803

16,352,000 11,882,282808,635 37,132,519548,647 125,267,083

5,891,500 26,738,066

985,817 98,059,2176,192,000 10,214,552

11,538,000 18,356,895195,925 11,731,989

SAIC Motor Corp. Ltd., Class ASemiconductor Manufacturing InternationalCorp.(a)(c)

Shandong Weigao Group Medical Polymer Co.Ltd., Class H


Shanghai Fosun Pharmaceutical Group Co.Ltd., Class H

Shanghai Industrial Holdings Ltd.Shanghai Lujiazui Finance & Trade ZoneDevelopment Co. Ltd., Class BShanghai Pharmaceuticals Holding Co. Ltd.,Class HShanghai Pudong Development Bank Co. Ltd.,Class AShenzhen International Holdings Ltd.Shenzhen Investment Ltd.Shenzhou International Group Holdings Ltd.Shimao Property Holdings Ltd.Shui On Land Ltd.Sihuan Pharmaceutical Holdings Group Ltd.SINA Corp./China(a)

Sino Biopharmaceutical Ltd.Sino-Ocean Group Holding Ltd.Sinopec Engineering Group Co. Ltd., Class HSinopec Shanghai Petrochemical Co. Ltd.,Class HSinopharm Group Co. Ltd., Class HSinotrans Ltd., Class HSinotruk Hong Kong Ltd.Skyworth Digital Holdings Ltd.SOHO China Ltd.SSY Group Ltd.Sun Art Retail Group Ltd.Sunac China Holdings Ltd.(c)

Suning.com Co. Ltd., Class ASunny Optical Technology Group Co. Ltd.TAL Education Group, Class A, ADR(a)


Tong Ren Tang Technologies Co. Ltd., Class HTowngas China Co. Ltd.TravelSky Technology Ltd., Class HTsingtao Brewery Co. Ltd., Class HUni-President China Holdings Ltd.Vipshop Holdings Ltd., ADR(a)


Weibo Corp., ADR(a)(c)

Weichai Power Co. Ltd., Class HWuliangye Yibin Co. Ltd., Class AWuxi Biologics Cayman Inc.(a)(b)


China (continued)

633,394$

3,584,531

20,704,999

27,081,747

13,508,000

11,623,822

20,612,000

7,883,072

3,481,000

22,299,452

3,594,000

9,552,966

7,191,326

10,715,076

5,989,100

18,515,158

2,372,785 3,908,0605,670,500 12,404,885

15,512,000 6,585,1575,325,000 62,318,4168,411,500 24,878,005

22,474,500 6,303,28327,163,000 7,029,556

445,840 40,491,18931,071,000 78,587,05421,817,500 14,741,2727,704,000 8,279,383

25,269,000 18,651,7998,352,400 37,108,054

11,887,000 6,743,5164,580,000 6,481,008

10,814,000 5,142,20415,595,000 8,151,2349,762,000 10,441,307

16,853,000 19,851,95616,800,000 63,930,4451,242,798 3,156,7374,945,300 100,618,9172,292,742 97,349,825

39,420,700 2,006,175,74113,974,000 31,282,3493,194,000 5,553,9685,538,000 5,436,2306,714,000 19,643,4672,648,000 16,777,5488,288,000 8,928,1312,912,808 34,021,597

35,381,000 35,091,652322,818 32,898,382

13,932,800 18,685,652269,995 3,329,072

3,267,000 36,630,183



76

People's Insurance Co. Group of China Ltd.(The), Class HPetroChina Co. Ltd., Class HPICC Property & Casualty Co. Ltd., Class HPing An Bank Co. Ltd., Class APing An Insurance Group Co. of China Ltd.,Class APing An Insurance Group Co. of China Ltd.,Class HPoly Real Estate Group Co. Ltd., Class APostal Savings Bank of China Co. Ltd., ClassH(b)

Qingdao Haier Co. Ltd., Class A

50,450,000 23,861,030147,930,000 122,392,57332,298,128 56,903,5691,295,100 2,058,266

702,400 6,812,966

35,982,500 352,753,868914,173 1,761,140

17,823,000 11,928,730723,796 2,271,238

Xinjiang Goldwind Science & Technology Co.Ltd., Class AXinjiang Goldwind Science & Technology Co.Ltd., Class HXinyi Solar Holdings Ltd.Yanzhou Coal Mining Co. Ltd., Class HYuexiu Property Co. Ltd.Yum China Holdings Inc.Yunnan Baiyao Group Co. Ltd., Class A

1,320,689 3,327,779

2,930,600 4,692,45719,450,000 8,058,55313,098,800 18,903,05741,330,000 9,325,9442,546,641 100,082,991

123,900 2,207,025




May 31, 2018


Yuzhou Properties Co. Ltd.

YY Inc., ADR(a)


Zhejiang Expressway Co. Ltd., Class HZhongAn Online P&C Insurance Co. Ltd.,Class H(a)(b)

Zhongsheng Group Holdings Ltd.Zhuzhou CRRC Times Electric Co. Ltd., ClassH

Zijin Mining Group Co. Ltd., Class HZTE Corp., Class H(a)(d)

Bancolombia SACementos Argos SAEcopetrol SAGrupo Argos SA/ColombiaGrupo de Inversiones Suramericana SAInterconexion Electrica SA ESP

CEZ ASKomercni Banka ASMoneta Money Bank AS(b)


Commercial International Bank Egypt SAEEastern TobaccoEISewedy Electric Co.Global Telecom Holding SAE(a)

Alpha Bank AE(a)

Eurobank Ergasias SA(a)

FF Group(a)

Hellenic Telecommunications Organization SAJUMBO SANational Bank of Greece SA(a)

OPAP SAPiraeus Bank SA(a)(c)

Titan Cement Co. SA



China (continued)

10,998,000$

7,739,393

313,998

36,590,187

5,246,000

4,380,500

10,340,000

10,347,711

1,042,200

6,935,467

3,776,000

12,106,653

3,894,300

19,610,136

41,594,000

17,339,3395,607,400 13,582,173

12,559,355,402Colombia — 0.3%

1,574,607 18,057,7893,269,120 10,414,076

34,451,254 36,860,8692,142,054 14,403,9531,826,449 23,475,6472,801,114 13,733,970


1,135,694 28,370,142513,973 20,798,462

3,397,394 11,858,537442,028 5,595,974

66,623,115Egypt — 0.1%

6,946,358 32,699,704913,844 9,024,560446,909 5,229,797

15,405,771 4,192,574

51,146,635Greece — 0.3%

9,870,252 21,095,94413,224,919 13,893,700

246,892 1,383,3461,716,551 20,538,228

748,486 12,004,74138,970,592 12,255,1031,615,265 17,346,5852,016,529 5,964,767

335,712 8,229,407

112,711,821Hungary — 0.3%

2,561,525 24,112,4721,550,074 55,467,517

970,443 18,957,629

98,537,618

Bharat Forge Ltd.

Bharat Heavy Electricals Ltd.

Bharat Petroleum Corp. Ltd.

Bharti Airtel Ltd.

Bharti Infratel Ltd.

Bosch Ltd.

Britannia Industries Ltd.

Cadila Healthcare Ltd.(a)

Cipla Ltd./IndiaCoal India Ltd.Container Corp. of India Ltd.Dabur India Ltd.Dr. Reddy's Laboratories Ltd.Eicher Motors Ltd.GAIL India Ltd.Glenmark Pharmaceuticals Ltd.Godrej Consumer Products Ltd.Grasim Industries Ltd.Havells India Ltd.HCL Technologies Ltd.Hero MotoCorp Ltd.Hindalco Industries Ltd.Hindustan Petroleum Corp. Ltd.Hindustan Unilever Ltd.Housing Development Finance Corp. Ltd.ICICI Bank Ltd.Idea Cellular Ltd.(a)

IDFC Bank Ltd.Indiabulls Housing Finance Ltd.Indian Oil Corp. Ltd.Infosys Ltd.InterGlobe Aviation Ltd.(b)

ITC Ltd.JSW Steel Ltd.Larsen & Toubro Ltd.LIC Housing Finance Ltd.Lupin Ltd.Mahindra & Mahindra Financial Services Ltd.Mahindra & Mahindra Ltd.Marico Ltd.Maruti Suzuki India Ltd.Motherson Sumi Systems Ltd.Nestle India Ltd.NTPC Ltd.Oil & Natural Gas Corp. Ltd.Petronet LNG Ltd.Pidilite Industries Ltd.


India (continued)

1,475,721$

14,229,640

6,165,326

7,642,419

5,254,452

31,453,131

9,689,464

53,643,296

2,164,877

9,580,862

52,267

14,226,120

191,272

16,790,809

1,442,326

7,722,1862,423,828 18,849,7014,736,905 20,795,141

500,826 10,234,7143,739,892 21,242,553

794,945 22,813,18192,592 42,233,793

5,302,158 27,570,514972,010 7,719,761

1,670,562 28,200,2102,311,502 35,616,6381,762,327 14,210,6513,854,382 51,996,246

344,311 18,086,8838,167,082 28,344,0984,231,315 19,553,7454,507,013 107,625,327

10,899,373 296,055,28416,458,765 69,705,70213,536,926 12,336,842

220,745 133,1361,943,137 35,783,1499,893,964 25,525,716

12,087,015 220,631,795585,371 10,576,277

23,614,514 95,059,9455,920,115 29,116,9743,300,258 67,019,9472,087,555 14,698,6521,533,615 17,507,0622,059,474 14,882,4145,197,326 71,083,2003,169,716 15,117,595

731,985 92,603,3024,434,861 20,382,649

161,892 23,160,15813,071,941 32,455,8779,376,915 24,719,7894,009,200 13,049,617

735,834 12,622,553



77

Adani Ports & Special Economic Zone Ltd.Ambuja Cements Ltd.Ashok Leyland Ltd.Asian Paints Ltd.Aurobindo Pharma Ltd.Avenue Supermarts Ltd.(a)(b)

Axis Bank Ltd.Bajaj Auto Ltd.Bajaj Finance Ltd.Bajaj Finserv Ltd.

India — 8.3%

3,712,215 21,572,1874,195,308 12,769,4778,191,572 17,971,5072,004,070 38,745,0071,841,681 15,182,116

821,292 19,133,76412,440,812 100,640,007

580,780 23,670,1251,208,113 37,772,721

266,585 23,869,495

Piramal Enterprises Ltd.Power Grid Corp. of India Ltd.Reliance Industries Ltd.Rural Electrification Corp. Ltd.Shree Cement Ltd.Shriram Transport Finance Co. Ltd.Siemens Ltd.State Bank of India(a)

Sun Pharmaceutical Industries Ltd.Tata Consultancy Services Ltd.Tata Motors Ltd.(a)

Tata Power Co. Ltd. (The)Tata Steel Ltd.

574,518 20,189,54110,490,429 32,559,85419,726,839 269,333,8734,938,283 8,646,066

59,405 14,860,0311,039,673 22,405,756

505,146 7,825,43111,923,436 47,626,6025,850,789 41,646,7456,473,240 167,009,736

10,942,856 45,809,7557,974,385 9,607,1942,417,078 20,618,545




May 31, 2018


Tech Mahindra Ltd.

Titan Co. Ltd.

UltraTech Cement Ltd.

United Spirits Ltd.(a)

UPL Ltd.

Vakrangee Ltd.

Vedanta Ltd.

Wipro Ltd.Yes Bank Ltd.Zee Entertainment Enterprises Ltd.

Adaro Energy Tbk PTAKR Corporindo Tbk PTAstra International Tbk PTBank Central Asia Tbk PTBank Danamon Indonesia Tbk PTBank Mandiri Persero Tbk PTBank Negara Indonesia Persero Tbk PTBank Rakyat Indonesia Persero Tbk PTBank Tabungan Negara Persero Tbk PTBumi Serpong Damai Tbk PTCharoen Pokphand Indonesia Tbk PTGudang Garam Tbk PTHanjaya Mandala Sampoerna Tbk PTIndah Kiat Pulp & Paper Corp. Tbk PTIndocement Tunggal Prakarsa Tbk PTIndofood CBP Sukses Makmur Tbk PTIndofood Sukses Makmur Tbk PTJasa Marga Persero Tbk PTKalbe Farma Tbk PTMatahari Department Store Tbk PTPakuwon Jati Tbk PTPerusahaan Gas Negara Persero Tbk PTSemen Indonesia Persero Tbk PTSurya Citra Media Tbk PTTelekomunikasi Indonesia Persero Tbk PTTower Bersama Infrastructure Tbk PTUnilever Indonesia Tbk PTUnited Tractors Tbk PTWaskita Karya Persero Tbk PT

AirAsia Group Bhd(c)

Alliance Bank Malaysia Bhd(c)

AMMB Holdings BhdAstro Malaysia Holdings Bhd


India (continued)

3,269,865$

34,516,924

2,152,201

28,706,644

637,993

35,405,031

403,985

20,016,512

2,510,019

26,319,260

3,212,023

1,551,690

9,077,445

33,400,209

7,876,027

30,566,90912,068,354 61,913,2983,428,424 28,249,919

3,164,721,185Indonesia — 2.0%

99,782,500 13,536,52512,409,600 4,394,043

139,679,700 69,362,35567,959,300 111,023,82924,853,016 10,418,771

128,543,700 65,220,08551,562,976 31,449,890

381,757,010 84,621,20127,561,200 6,049,77853,443,900 6,557,88852,203,045 13,825,6353,341,200 16,471,551

64,173,600 17,503,99018,393,500 24,754,11712,750,200 16,172,88816,187,100 10,135,14030,396,600 15,477,21815,139,595 4,848,593

148,822,115 14,673,35717,225,400 11,343,103

140,732,000 5,671,81975,511,900 11,249,34420,716,200 12,523,64741,147,700 7,284,875

348,302,200 88,234,88615,590,400 5,694,22710,498,700 34,454,17211,676,353 29,453,48533,165,100 5,537,462

747,943,874Malaysia — 2.3%

10,508,200 8,105,5717,412,700 7,896,947

11,951,775 10,660,50310,319,600 3,630,010

Hartalega Holdings Bhd(c)

Hong Leong Bank Bhd(c)

Hong Leong Financial Group Bhd(c)

IHH Healthcare Bhd(c)

IJM Corp. Bhd

IOI Corp. Bhd

IOI Properties Group Bhd(c)

Kuala Lumpur Kepong Bhd(c)

Malayan Banking BhdMalaysia Airports Holdings BhdMaxis Bhd(c)

MISC BhdMy EG Services BhdNestle Malaysia Bhd(c)

Petronas Chemicals Group Bhd(c)

Petronas Dagangan BhdPetronas Gas Bhd(c)

PPB Group Bhd(c)

Press Metal Aluminium Holdings Bhd(c)

Public Bank Bhd(c)

RHB Bank BhdRHB Bank Bhd, New(a)(d)

Sime Darby Bhd(c)

Sime Darby Plantation BhdSime Darby Property Bhd(c)

SP Setia Bhd Group(c)

Telekom Malaysia Bhd(c)

Tenaga Nasional Bhd(c)

Top Glove Corp. BhdUMW Holdings Bhd(a)

Westports Holdings Bhd(c)

YTL Corp. Bhd(c)

Alfa SAB de CV, Class AAlsea SAB de CVAmerica Movil SAB de CV, Series L, NVSArca Continental SAB de CV(c)

Banco Santander Mexico SA Institucion deBanca Multiple Grupo Financiero Santand,Class BCemex SAB de CV, CPO(a)

Coca-Cola Femsa SAB de CV, Series L, NVSEl Puerto de Liverpool SAB de CV, Series C1,NVS(c)

Fibra Uno Administracion SA de CV



9,249,100$

14,175,756

4,461,500

21,500,394

1,477,700

7,017,219

16,846,200

25,396,281

20,184,040

8,570,610

14,855,920

17,282,138

15,224,456

6,043,880

3,148,200

19,696,02526,430,600 64,150,6526,231,100 13,041,473

13,704,300 19,936,6588,217,300 12,119,485

13,763,100 3,077,678369,300 13,732,764

16,757,600 33,894,1411,467,900 9,235,2304,898,000 21,634,8843,503,800 17,536,6079,219,300 10,956,605

20,620,730 123,620,7585,606,525 7,522,3233,214,200 8

16,461,973 10,092,26516,658,673 23,188,20317,301,973 4,999,3147,098,200 5,493,0797,813,000 7,204,450

21,792,350 78,846,6934,500,700 11,602,3073,086,900 4,963,8596,951,600 6,025,884

24,293,889 5,798,793

873,602,736Mexico — 2.6%

21,065,600 21,557,8092,513,000 8,213,674

232,998,300 180,461,7963,065,736 18,333,997

12,732,900 16,606,139101,360,773 60,069,695

3,548,393 20,722,187

1,270,865 7,182,92422,087,900 30,385,156



78

Axiata Group Bhd(c)

British American Tobacco Malaysia Bhd(c)

CIMB Group Holdings BhdDialog Group BhdDiGi.Com Bhd(c)

Felda Global Ventures Holdings Bhd(c)

Fraser & Neave Holdings BhdGamuda Bhd(c)

Genting Bhd(c)

Genting Malaysia Bhd(c)

Genting Plantations Bhd(c)

HAP Seng Consolidated Bhd(c)

19,057,200 20,876,732992,100 8,061,436

31,787,700 47,122,47023,192,612 18,938,69122,944,100 25,480,63410,218,000 4,030,719

619,700 5,888,70712,575,200 10,553,05714,951,000 33,019,92220,727,800 25,935,7902,042,800 4,876,0304,129,900 10,169,101

Fomento Economico Mexicano SAB de CVGruma SAB de CV, Series BGrupo Aeroportuario del Pacifico SAB de CV,Series BGrupo Aeroportuario del Sureste SAB de CV,Class BGrupo Bimbo SAB de CV, Series A(c)

Grupo Carso SAB de CV, Series A1Grupo Financiero Banorte SAB de CV, ClassOGrupo Financiero Inbursa SAB de CV, ClassO(c)

Grupo Lala SAB de CV(c)

Grupo Mexico SAB de CV, Class BGrupo Televisa SAB, CPO(c)

Industrias Penoles SAB de CVInfraestructura Energetica Nova SAB de CV(c)

13,470,200 111,901,6581,495,390 15,628,351

2,494,300 21,180,935

1,467,440 23,219,58111,546,600 21,959,5653,634,141 11,289,728

17,193,956 91,243,335

16,181,200 22,777,0981,048,616 1,138,615

24,522,888 60,681,04816,990,300 56,542,643

984,413 16,571,1783,755,800 15,640,721




May 31, 2018


Kimberly-Clark de Mexico SAB de CV, Class A

Mexichem SAB de CVPromotora y Operadora de Infraestructura SABde CVWal-Mart de Mexico SAB de CV

Habib Bank Ltd.

Lucky Cement Ltd.MCB Bank Ltd.Oil & Gas Development Co. Ltd.United Bank Ltd./Pakistan

Cia. de Minas Buenaventura SAA, ADR, NVSCredicorp Ltd.Southern Copper Corp.

Aboitiz Equity Ventures Inc.Aboitiz Power Corp.Alliance Global Group Inc.(a)

Ayala Corp.Ayala Land Inc.Bank of the Philippine IslandsBDO Unibank Inc.DMCI Holdings Inc.Globe Telecom Inc.GT Capital Holdings Inc.International Container Terminal Services Inc.JG Summit Holdings Inc.Jollibee Foods Corp.Manila Electric Co.Megaworld Corp.Metro Pacific Investments Corp.Metropolitan Bank & Trust Co.PLDT Inc.Robinsons Land Corp.Security Bank Corp.SM Investments Corp.SM Prime Holdings Inc.Universal Robina Corp.

Alior Bank SA(a)

Bank Handlowy w Warszawie SABank Millennium SA(a)

Bank Polska Kasa Opieki SABank Zachodni WBK SACCC SA


Mexico (continued)

10,642,200$

17,649,788

7,406,434

20,795,483

1,636,165

14,659,131 35,960,600 89,953,611

976,365,846Pakistan — 0.1%

4,065,000

6,020,568

928,050

4,386,1672,635,600 4,655,9954,566,700 6,417,9163,284,700 4,806,060

26,286,706Peru — 0.4%

1,280,703 19,812,476465,974 103,175,963587,160 28,706,252

151,694,691Philippines — 1.0%

14,799,150 16,282,1498,578,464 6,417,254

25,833,980 6,540,1861,767,646 31,627,894

52,527,700 39,794,0916,528,624 11,805,718

13,692,121 34,011,70226,473,400 5,442,276

242,345 7,454,569593,060 10,950,085

3,583,090 5,763,17220,290,154 22,053,0463,193,739 16,657,0131,232,170 7,570,966

76,860,200 7,110,25196,004,600 8,497,5195,542,030 8,375,997

622,668 15,348,76512,909,306 5,418,2451,414,450 5,250,1211,738,532 28,724,306

67,146,425 47,290,2656,288,540 15,321,699

363,707,289Poland — 1.1%

628,716 11,767,980238,434 5,136,344

4,294,248 9,308,7021,130,923 34,174,523

241,297 22,631,275202,785 14,952,294

Orange Polska SA(a)


PLAY Communications SA(b)


Polskie Gornictwo Naftowe i Gazownictwo SAPowszechna Kasa Oszczednosci Bank PolskiSA(a)

Powszechny Zaklad Ubezpieczen SA

Barwa Real Estate Co.Commercial Bank PQSC (The)Doha Bank QPSCEzdan Holding Group QSC(a)

Industries Qatar QSCMasraf Al Rayan QSCOoredoo QPSCQatar Electricity & Water Co. QSCQatar Gas Transport Co. Ltd.Qatar Insurance Co. SAQQatar Islamic Bank SAQQatar National Bank QPSC

Alrosa PJSCGazprom PJSCGazprom PJSC, ADR, NVSInter RAO UES PJSCLUKOIL PJSCLUKOIL PJSC, ADR, NVSMagnit PJSC, GDR, NVS(e)

Magnitogorsk Iron & Steel Works PJSCMMC Norilsk Nickel PJSCMobile TeleSystems PJSC, ADR, NVSMoscow Exchange MICEX-RTS PJSCNovatek PJSC, GDR, NVS(e)

Novolipetsk Steel PJSCPhosAgro PJSC, GDR, NVS(e)

Polyus PJSCRosneft Oil Co. PJSCRosneft Oil Co. PJSC, GDR, NVSRosneft Oil Co. PJSC, GDR, NVS NewRusHydro PJSCSberbank of Russia PJSCSberbank of Russia PJSC, ADRSeverstal PJSCSurgutneftegas OJSCSurgutneftegas OJSC, ADR, NVSTatneft PJSC


Poland (continued)

4,568,893$

6,186,946

5,872,123

15,617,728

741,062

4,987,484

2,074,020

45,687,582

12,216,135

18,886,760

6,219,588

63,107,868 4,173,558 40,960,035

410,821,933Qatar — 0.7%

740,330 6,950,2851,457,344 15,062,214

699,459 4,988,6125,713,509 13,265,0391,074,058 30,144,1992,721,683 24,940,378

589,723 10,833,789345,039 17,948,641388,732 1,564,506

1,146,092 10,336,008734,787 23,092,731

2,052,272 89,125,636

248,252,038Russia — 3.3%

18,134,300 25,691,04659,898,719 139,349,6336,941,709 31,529,242

218,725,000 14,317,8852,416,473 163,185,349

558,835 37,296,6482,466,879 49,608,937

15,484,900 12,196,121441,681 78,737,597

3,453,399 33,083,5639,717,490 17,553,924

630,522 90,858,2208,373,169 21,917,814

789,862 10,505,165196,295 11,810,297

6,670,147 41,233,9281,041,033 6,350,301

402,389 2,454,573741,321,100 8,610,04161,060,101 217,838,4193,624,485 52,120,0941,452,753 23,373,643

38,997,860 17,913,5811,139,160 5,069,262

10,593,671 113,283,570



79

CD Projekt SACyfrowy Polsat SADino Polska SA(a)(b)

Grupa Azoty SAGrupa Lotos SAJastrzebska Spolka Weglowa SA(a)

KGHM Polska Miedz SALPP SAmBank SA

469,829 18,692,8381,552,716 10,450,065

317,344 9,555,273314,539 3,621,694648,410 9,565,570369,183 8,324,142970,516 22,223,695

9,078 23,113,659104,210 11,869,476

VTB Bank PJSCVTB Bank PJSC, GDR, NVS(e)

X5 Retail Group NV, GDR

Anglo American Platinum Ltd.AngloGold Ashanti Ltd.Aspen Pharmacare Holdings Ltd.Barclays Africa Group Ltd.Bid Corp. Ltd.

23,164,823,998 18,542,266167,118 265,216526,734 15,279,533

1,259,975,868South Africa — 6.3%

379,254 10,061,2362,880,415 24,558,0112,690,100 53,101,0664,965,384 63,387,5472,338,470 46,883,877




May 31, 2018


Bidvest Group Ltd. (The)

Capitec Bank Holdings Ltd.

Clicks Group Ltd.

Coronation Fund Managers Ltd.

Discovery Ltd.

Exxaro Resources Ltd.

FirstRand Ltd.

Fortress REIT Ltd., Series AFortress REIT Ltd., Series BFoschini Group Ltd. (The)Gold Fields Ltd.Growthpoint Properties Ltd.Hyprop Investments Ltd.Imperial Holdings Ltd.Investec Ltd.Kumba Iron Ore Ltd.Liberty Holdings Ltd.Life Healthcare Group Holdings Ltd.MMI Holdings Ltd./South AfricaMondi Ltd.Mr. Price Group Ltd.MTN Group Ltd.Naspers Ltd., Class NNedbank Group Ltd.NEPI Rockcastle PLCNetcare Ltd.Pick n Pay Stores Ltd.Pioneer Foods Group Ltd.PSG Group Ltd.Rand Merchant Investment Holdings Ltd.Redefine Properties Ltd.Reinet Investments SCA(a)

Remgro Ltd.Resilient REIT Ltd.RMB Holdings Ltd.Sanlam Ltd.Sappi Ltd.Sasol Ltd.Shoprite Holdings Ltd.SPAR Group Ltd. (The)Standard Bank Group Ltd.Steinhoff International Holdings NV, Class H(a)

Telkom SA SOC Ltd.Tiger Brands Ltd.Truworths International Ltd.Vodacom Group Ltd.Woolworths Holdings Ltd./South Africa



2,329,474$

37,153,869

280,725

19,382,327

1,655,756

26,407,118

1,594,289

7,868,852

2,478,691

30,168,987

1,747,360

17,294,242

23,276,332

110,270,819

7,315,040

9,657,1235,424,554 6,338,9971,563,291 22,741,4715,829,033 20,793,976

20,730,304 44,521,4581,769,444 14,460,1231,104,339 17,798,4741,955,865 14,227,702

449,336 10,294,815897,279 8,605,802

9,319,132 20,970,8066,810,694 10,056,058

825,173 22,850,7441,748,699 34,656,411

11,716,736 105,927,0653,033,066 724,678,8561,545,753 33,392,6592,628,119 25,731,2887,211,542 16,860,1472,561,128 15,207,014

900,558 7,643,8991,007,217 17,319,5204,732,176 14,347,853

37,002,806 32,050,5951,020,747 19,214,0613,684,188 59,342,6261,945,575 8,780,8194,983,217 28,577,264

11,598,069 69,643,3593,729,189 24,506,9403,846,015 138,930,2693,070,553 56,748,8621,364,082 20,760,1118,939,082 146,384,967

11,092,214 980,9141,921,042 7,863,1521,116,935 29,623,2503,062,016 20,328,0154,167,410 47,218,5826,926,288 31,905,222

CJ Logistics Corp.(a)(c)

Coway Co. Ltd.

Daelim Industrial Co. Ltd.Daewoo Engineering & Construction Co. Ltd.(a)

DB Insurance Co. Ltd.

DGB Financial Group Inc.

Dongsuh Cos. Inc.

Doosan Bobcat Inc.Doosan Heavy Industries & Construction Co.Ltd.(a)(c)

E-MART Inc.GS Engineering & Construction Corp.(c)

GS Holdings Corp.GS Retail Co. Ltd.(c)

Hana Financial Group Inc.Hankook Tire Co. Ltd.Hanmi Pharm Co. Ltd.(c)

Hanmi Science Co. Ltd.(c)

Hanon SystemsHanssem Co. Ltd.(c)

Hanwha Chemical Corp.Hanwha Corp.Hanwha Life Insurance Co. Ltd.HLB Inc.(a)

Hotel Shilla Co. Ltd.(c)

Hyosung Corp.Hyundai Department Store Co. Ltd.Hyundai Development Co. Engineering &ConstructionHyundai Engineering & Construction Co. Ltd.Hyundai Glovis Co. Ltd.Hyundai Heavy Industries Co. Ltd.(a)(c)

Hyundai Heavy Industries Holdings Co. Ltd.(a)

Hyundai Marine & Fire Insurance Co. Ltd.Hyundai Mobis Co. Ltd.Hyundai Motor Co.Hyundai Steel Co.Industrial Bank of KoreaING Life Insurance Korea Ltd.(b)

Kakao Corp.(c)

Kangwon Land Inc.KB Financial Group Inc.KCC Corp.KEPCO Plant Service & Engineering Co. Ltd.(c)

Kia Motors Corp.Korea Aerospace Industries Ltd.(a)(c)



55,859$

7,747,039

343,516

27,820,351

190,947

14,879,677

1,132,053

6,773,730

345,216

18,734,761

1,175,760

11,289,128

254,817

6,134,330

244,027

7,674,303

379,555 6,725,266144,677 33,553,736348,608 15,862,723356,102 19,259,471187,856 6,578,750

2,088,607 80,603,044510,522 20,293,95443,433 19,461,14388,651 5,839,066

1,293,252 12,117,30272,910 7,643,054

744,115 17,844,402286,808 9,578,448

1,793,462 9,267,205216,979 27,777,821218,113 25,090,229154,462 19,201,17698,112 10,239,436

460,781 19,834,165538,533 36,869,739128,717 16,060,519253,254 26,900,67567,996 24,474,649

437,715 13,826,426488,666 98,825,723

1,062,923 137,062,291555,379 31,840,458

1,747,094 25,283,795229,751 8,568,106316,950 30,432,140807,646 20,117,162

2,739,005 131,620,63141,439 13,243,412

154,823 5,809,7231,813,810 52,414,473

484,298 19,768,182



80

Amorepacific Corp.(c)

AMOREPACIFIC GroupBGF retail Co. Ltd.(c)

BNK Financial Group Inc.Celltrion Healthcare Co. Ltd.(a)(c)

Celltrion Inc.(a)(c)

Celltrion Pharm Inc.(a)

Cheil Worldwide Inc.CJ CheilJedang Corp.CJ Corp.CJ E&M Corp.

2,408,479,220South Korea — 14.2%

221,143 68,212,855199,965 23,373,61756,717 9,602,349

1,815,338 16,049,141238,188 22,052,194562,554 138,557,528105,760 9,144,053488,568 8,974,11456,959 18,520,460

100,750 13,832,738131,736 11,072,203

Korea Electric Power Corp.Korea Gas Corp.(a)

Korea Investment Holdings Co. Ltd.Korea Zinc Co. Ltd.(c)

Korean Air Lines Co. Ltd.KT Corp.KT&G Corp.Kumho Petrochemical Co. Ltd.LG Chem Ltd.LG Corp.LG Display Co. Ltd.LG Electronics Inc.(c)

LG Household & Health Care Ltd.LG Innotek Co. Ltd.(c)

1,773,096 54,527,698192,858 10,788,383282,973 24,649,71958,790 22,115,446

324,786 9,626,525169,957 4,257,005822,874 73,283,458128,009 12,468,987316,759 99,469,290652,374 44,421,589

1,606,268 33,080,523734,080 63,060,26164,781 80,709,57299,016 13,227,241




May 31, 2018


Lotte Chemical Corp.

Lotte Corp.(a)(c)

Lotte Shopping Co. Ltd.

Medy-Tox Inc.(c)

Mirae Asset Daewoo Co. Ltd.

NAVER Corp.

NCSoft Corp.(c)

Netmarble Corp.(b)(c)

NH Investment & Securities Co. Ltd.OCI Co. Ltd.Orion Corp./Republic of Korea(c)

Ottogi Corp.Pan Ocean Co. Ltd.(a)(c)


POSCOPosco Daewoo Corp.S-1 Corp.Samsung Biologics Co. Ltd.(a)(b)(c)

Samsung C&T Corp.Samsung Card Co. Ltd.Samsung Electro-Mechanics Co. Ltd.Samsung Electronics Co. Ltd.Samsung Engineering Co. Ltd.(a)


Samsung Life Insurance Co. Ltd.Samsung SDI Co. Ltd.(c)

Samsung SDS Co. Ltd.Samsung Securities Co. Ltd.Shinhan Financial Group Co. Ltd.Shinsegae Inc.(c)

SillaJen Inc.(a)(c)

SK Holdings Co. Ltd.(c)

SK Hynix Inc.SK Innovation Co. Ltd.SK Telecom Co. Ltd.S-Oil Corp.ViroMed Co. Ltd.(a)

Woori BankYuhan Corp.

Acer Inc.(c)

Advantech Co. Ltd.Airtac International Group(c)

ASE Industrial Holding Co. Ltd.



110,636$

37,821,203

209,725

11,401,164

79,448

16,509,441

29,667

20,740,342

2,654,652

23,149,245

193,386

120,019,699

121,245

39,704,518

177,089

25,792,451994,094 14,616,995120,073 14,759,193155,023 18,623,757

8,598 6,460,7641,537,618 7,217,725

37,901 7,861,834532,818 167,810,855272,982 5,799,237123,968 10,166,308114,539 46,221,499522,485 60,830,157209,341 7,204,927388,557 48,301,533

33,244,394 1,563,607,5661,052,041 18,006,546

213,259 49,558,3092,670,984 18,558,996

481,558 46,013,706381,165 70,897,150241,085 47,190,440440,750 15,087,597

3,005,783 121,993,60551,474 20,963,019

354,519 26,475,049219,124 56,308,129

4,024,346 348,693,276446,741 85,373,761138,255 28,473,130310,810 30,995,94194,726 23,287,156

3,264,918 46,340,96759,925 13,230,809

5,388,086,762Taiwan — 11.4%

20,304,121 16,636,8902,459,126 16,661,468

819,000 14,077,56624,349,110 61,763,675

Compal Electronics Inc.

CTBC Financial Holding Co. Ltd.

Delta Electronics Inc.

E.Sun Financial Holding Co. Ltd.

Eclat Textile Co. Ltd.(c)

Eva Airways Corp.

Evergreen Marine Corp. Taiwan Ltd.(a)

Far Eastern New Century Corp.Far EasTone Telecommunications Co. Ltd.Feng TAY Enterprise Co. Ltd.(c)

First Financial Holding Co. Ltd.Formosa Chemicals & Fibre Corp.Formosa Petrochemical Corp.Formosa Plastics Corp.Formosa Taffeta Co. Ltd.Foxconn Technology Co. Ltd.(c)

Fubon Financial Holding Co. Ltd.General Interface Solution Holding Ltd.(c)

Giant Manufacturing Co. Ltd.(c)

Globalwafers Co. Ltd.Highwealth Construction Corp.(c)

Hiwin Technologies Corp.Hon Hai Precision Industry Co. Ltd.Hotai Motor Co. Ltd.(c)

HTC Corp.(a)(c)

Hua Nan Financial Holdings Co. Ltd.Innolux Corp.(c)

Inventec Corp.Largan Precision Co. Ltd.(c)

Lite-On Technology Corp.Macronix International(a)(c)

MediaTek Inc.Mega Financial Holding Co. Ltd.Micro-Star International Co. Ltd.(c)

Nan Ya Plastics Corp.Nanya Technology Corp.(c)

Nien Made Enterprise Co. Ltd.(c)

Novatek Microelectronics Corp.Pegatron Corp.(c)

Phison Electronics Corp.Pou Chen Corp.Powertech Technology Inc.President Chain Store Corp.Quanta Computer Inc.(c)

Realtek Semiconductor Corp.Ruentex Development Co. Ltd.(a)


Taiwan (continued)

29,537,908$

19,421,484

121,061,772

87,276,481

13,987,000

51,818,400

63,345,712

44,187,553

1,260,427

15,396,969

14,694,364

7,430,189

13,917,012

6,897,773

22,400,038

21,344,76211,058,000 28,197,2262,342,529 10,398,557

67,675,639 45,965,63123,670,090 90,851,9388,683,000 35,211,338

29,708,280 106,591,4625,549,000 6,176,5656,490,637 15,987,484

46,106,969 80,175,3281,217,000 7,778,4992,119,203 9,195,0131,553,000 30,737,0795,922,170 8,973,7341,490,971 21,149,231

113,300,592 324,077,9251,893,000 17,280,0264,560,708 8,920,030

53,164,305 31,762,13062,071,002 24,031,62817,522,281 14,182,044

710,000 97,158,02014,794,246 19,306,61112,523,000 20,689,50210,424,338 108,378,46275,310,162 65,981,0674,728,000 19,725,314

34,295,160 95,806,4487,209,000 23,964,6351,091,000 8,648,1824,096,000 18,524,039

13,529,414 28,583,7461,072,535 9,862,103

15,468,220 18,947,1055,076,300 15,146,8123,992,000 40,903,960

18,634,000 32,962,3683,245,637 12,403,4326,865,430 8,283,474



81

Asia Cement Corp.Asustek Computer Inc.AU Optronics Corp.(c)

Catcher Technology Co. Ltd.Cathay Financial Holding Co. Ltd.Chailease Holding Co. Ltd.Chang Hwa Commercial Bank Ltd.Cheng Shin Rubber Industry Co. Ltd.(c)

Chicony Electronics Co. Ltd.China Airlines Ltd.(a)

China Development Financial Holding Corp.China Life Insurance Co. Ltd./Taiwan(c)

China Steel Corp.Chunghwa Telecom Co. Ltd.

15,832,077 17,464,0844,912,968 44,519,494

60,486,000 26,547,0994,556,210 52,995,984

56,477,644 101,036,3878,105,932 28,948,308

36,521,940 21,392,78913,353,128 20,322,8363,872,267 9,150,293

18,578,347 6,293,75196,487,848 36,229,43718,021,285 18,916,59088,121,313 69,411,17726,093,410 94,927,881

Ruentex Industries Ltd.Shin Kong Financial Holding Co. Ltd.(c)

SinoPac Financial Holdings Co. Ltd.Standard Foods Corp.Synnex Technology International Corp.TaiMed Biologics Inc.(a)(c)

Taishin Financial Holding Co. Ltd.Taiwan Business BankTaiwan Cement Corp.Taiwan Cooperative Financial Holding Co. Ltd.Taiwan High Speed Rail Corp.Taiwan Mobile Co. Ltd.Taiwan Semiconductor Manufacturing Co. Ltd.Teco Electric and Machinery Co. Ltd.

4,039,598 8,264,85257,043,865 22,846,86674,938,006 27,762,6913,256,615 6,652,031

10,051,834 16,103,6011,264,000 13,289,054

65,843,006 32,414,41028,877,632 8,818,99624,767,296 36,041,39057,507,605 33,877,11711,507,000 8,890,97811,123,600 40,838,943

170,250,000 1,272,833,47013,750,000 11,082,973




May 31, 2018


Uni-President Enterprises Corp.

United Microelectronics Corp.(c)

Vanguard International Semiconductor Corp.

Walsin Technology Corp.

Win Semiconductors Corp.(c)

Winbond Electronics Corp.(c)

Wistron Corp.(c)

WPG Holdings Ltd.Yageo Corp.(c)

Yuanta Financial Holding Co. Ltd.Zhen Ding Technology Holding Ltd.(c)

Advanced Info Service PCL, NVDRAirports of Thailand PCL, NVDRBangkok Bank PCLBangkok Dusit Medical Services PCL, NVDRBangkok Expressway & Metro PCL, NVDRBanpu PCL, NVDRBerli Jucker PCL, NVDRBTS Group Holdings PCL, NVDRBumrungrad Hospital PCL, NVDRCentral Pattana PCL, NVDRCharoen Pokphand Foods PCL, NVDRCP ALL PCL, NVDRDelta Electronics Thailand PCL, NVDRElectricity Generating PCL, NVDREnergy Absolute PCL, NVDR(c)

Glow Energy PCL, NVDRHome Product Center PCL, NVDRIndorama Ventures PCL, NVDRIRPC PCL, NVDRKasikornbank PCLKasikornbank PCL, NVDRKrung Thai Bank PCL, NVDR(c)

Land & Houses PCL, NVDRMinor International PCL, NVDRPTT Exploration & Production PCL, NVDRPTT Global Chemical PCL, NVDRPTT PCL, NVDRRobinson PCL, NVDRSiam Cement PCL (The), NVDRSiam Commercial Bank PCL (The), NVDRThai Oil PCL, NVDRThai Union Group PCL, NVDR(c)

TMB Bank PCL, NVDRTrue Corp. PCL, NVDR(c)


Taiwan (continued)

33,514,839$

81,769,429

83,491,000

46,397,048

6,322,000

13,841,870

2,219,000

28,698,914

2,280,000

18,529,780

20,846,000

13,949,979

18,795,156

14,145,846

11,173,532

16,222,4401,488,000 47,230,212

71,804,635 33,791,5443,172,075 7,167,514

4,335,449,416Thailand — 2.3%

7,220,700 42,999,16729,720,000 63,639,2621,703,900 10,279,859

27,256,100 22,791,51853,190,600 13,634,35214,545,200 9,548,2718,464,000 15,081,213

40,391,100 12,247,3802,517,500 15,149,0709,639,500 22,976,301

21,496,600 16,799,46934,933,800 88,180,8173,575,100 7,208,314

878,800 6,620,5317,968,300 9,652,1303,640,700 9,673,632

28,474,114 12,995,37611,073,280 20,163,13171,196,900 14,688,9518,546,700 52,097,7344,419,700 26,457,410

24,561,000 13,435,99621,082,500 7,315,27815,766,620 16,017,9799,670,139 40,657,508

15,727,130 43,877,66073,164,700 119,501,5813,605,300 7,100,1532,601,900 36,275,317

12,680,300 52,718,9727,842,300 22,553,661

13,728,900 7,424,50781,539,500 6,321,28770,592,101 15,777,853

Haci Omer Sabanci Holding AS

KOC Holding AS

Petkim Petrokimya Holding AS

TAV Havalimanlari Holding AS

Tofas Turk Otomobil Fabrikasi AS

Tupras Turkiye Petrol Rafinerileri AS

Turk Hava Yollari AO(a)

Turk Telekomunikasyon AS(a)(c)

Turkcell Iletisim Hizmetleri ASTurkiye Garanti Bankasi ASTurkiye Halk Bankasi AS(c)

Turkiye Is Bankasi AS, Class CTurkiye Sise ve Cam Fabrikalari ASTurkiye Vakiflar Bankasi TAO, Class DUlker Biskuvi Sanayi ASYapi ve Kredi Bankasi AS(a)(c)

Abu Dhabi Commercial Bank PJSCAldar Properties PJSCDAMAC Properties Dubai Co. PJSCDP World Ltd.Dubai Investments PJSCDubai Islamic Bank PJSCEmaar Development PJSC(a)

Emaar Malls PJSCEmaar Properties PJSCEmirates Telecommunications Group Co.PJSCFirst Abu Dhabi Bank PJSC


Banco Bradesco SA, Preference Shares, NVSBraskem SA, Class A, Preference Shares,NVSCentrais Eletricas Brasileiras SA, Class B,Preference Shares, NVSCia. Brasileira de Distribuicao, PreferenceShares, NVSCia. Energetica de Minas Gerais, PreferenceShares, NVSGerdau SA, Preference Shares, NVSItau Unibanco Holding SA, Preference Shares,NVS


Turkey (continued)

6,430,524$

13,222,579

5,271,809

16,230,960

4,928,926

5,116,363

1,182,769

5,719,061

867,922

4,781,992

869,222

20,325,173

3,813,142

13,992,179

193,825

253,3107,673,887 20,294,801

15,815,347 31,055,9334,122,912 6,978,361

10,917,378 14,340,1195,424,954 4,758,4695,100,952 6,149,3151,090,999 4,207,7565,808,182 5,145,818


14,968,560 28,648,15723,604,726 13,173,89411,694,929 7,609,5121,193,420 26,851,9505,617,760 3,150,5899,477,592 13,081,7944,129,308 5,958,192

14,414,197 8,044,62225,140,108 35,590,314

12,554,494 55,370,13310,047,027 33,643,720

231,122,877

36,628,901,873Preferred StocksBrazil — 2.1%

23,140,246 181,254,542

1,218,900 14,859,645

1,673,337 7,526,321

1,102,086 23,527,030

6,116,310 12,597,0647,194,385 28,591,694

22,318,153 257,578,232



82

Akbank Turk ASAnadolu Efes Biracilik Ve Malt Sanayii ASArcelik ASAselsan Elektronik Sanayi Ve Ticaret AS(c)

BIM Birlesik Magazalar ASCoca-Cola Icecek ASEmlak Konut Gayrimenkul Yatirim OrtakligiAS(c)

Enka Insaat ve Sanayi ASEregli Demir ve Celik Fabrikalari TASFord Otomotiv Sanayi AS

881,861,640Turkey — 0.7%

15,149,309 26,809,9821,458,877 8,102,2821,655,356 6,063,3211,471,183 7,651,8571,482,797 22,630,264

529,052 4,155,509

12,918,829 5,893,6131 —

9,905,785 24,516,405503,496 7,101,730

Itausa-Investimentos Itau SA, PreferenceShares, NVSLojas Americanas SA, Preference Shares,NVSPetroleo Brasileiro SA, Preference Shares,NVSTelefonica Brasil SA, Preference Shares, NVS

Embotelladora Andina SA, Class B, PreferenceSharesSociedad Quimica y Minera de Chile SA,Series B, Preference Shares

28,125,357 84,812,975

5,154,124 24,593,865

27,026,927 137,745,4853,096,267 37,829,822

810,916,675Chile — 0.1%

1,904,817 8,229,133

671,735 34,985,965

43,215,098



BlackRock Cash Funds: Institutional,SL Agency SharesBlackRock Cash Funds: Treasury, SLAgency Shares


May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



2,193,968,858 (200,005,036) 1,993,963,822 $1,994,362,615

$16,717,408(a)

$(77,722)

$(32,088)

94,337,685 (94,337,685) — —

546,266

—

—

$1,994,362,615

$17,263,674

$(77,722)

$(32,088)


Futures Contracts

Bancolombia SA, Preference Shares, NVSGrupo Aval Acciones y Valores SA, PreferenceShares, NVSGrupo de Inversiones Suramericana SA,Preference Shares, NVS

Surgutneftegas OJSC, Preference Shares,NVSTransneft PJSC, Preference Shares


Preference Shares, NVSSeries 2, Preference Shares, NVS(c)

LG Chem Ltd., Preference Shares, NVSLG Household & Health Care Ltd., PreferenceShares, NVSSamsung Electronics Co. Ltd., PreferenceShares, NVS


Dubai Islamic Bank PJSC, NVS (Expires06/06/18)(a)



Colombia — 0.1%

3,162,913$

36,688,852

23,640,098

10,191,091

641,175 7,837,063

54,717,006Russia — 0.1%

48,423,574

23,680,567 3,495 9,566,355

33,246,922South Korea — 0.8%

64,345 9,699,951Hyundai Motor Co.

165,055 13,688,870261,879 22,957,99054,163 9,873,398

14,727 10,014,278

5,973,341 224,426,282

290,660,769

1,232,756,470RightsUnited Arab Emirates — 0.0%

3,265,250 1,742,344

1,742,344

BlackRock Cash Funds: Institutional, SLAgency Shares, 1.98%(f)(g)(h)

Total Short-Term Investments — 5.3%(Cost: $1,994,006,173)





1,993,963,822 $ 1,994,362,615

1,994,362,615

39,857,763,302(1,882,818,962)

$ 37,974,944,340






loaned securities.





Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)

Long Contracts 1,284 06/15/18

$72,013 $ (142,100)

83



Common Stocks

Preferred Stocks

Rights

Money Market Funds

Futures Contracts

ADRCPOGDRNVDRNVS


May 31, 2018





Investments

Assets

$36,326,648,956

$ 288,670,725

$ 13,582,192

$36,628,901,873

1,232,756,470

—

—

1,232,756,470

—

1,742,344

—

1,742,344

1,994,362,615

—

—

1,994,362,615

$39,553,768,041

$ 290,413,069

$ 13,582,192

$39,857,763,302


Liabilities

$(142,100)

$—

$—

$(142,100)





84



iShares® MSCI Emerging Markets ex China ETF Schedule of Investments (unaudited)

May 31, 2018


Ambev SA


Banco Bradesco SA

Banco do Brasil SA


BB Seguridade Participacoes SA

BR Malls Participacoes SABRF SA(a)


Cia. de Saneamento Basico do Estado de Sao PauloCia. Siderurgica Nacional SA(a)

Cielo SAEmbraer SAEquatorial Energia SAFibria Celulose SAHypera SAJBS SAKlabin SA, NVSKroton Educacional SALocaliza Rent a Car SALojas Renner SAMagazine Luiza SAMultiplan Empreendimentos Imobiliarios SAPetroleo Brasileiro SARaia Drogasil SARumo SA(a)

Suzano Papel e Celulose SATIM Participacoes SAUltrapar Participacoes SAVale SAWEG SA

Banco de ChileBanco de Credito e Inversiones SABanco Santander ChileCencosud SACia. Cervecerias Unidas SAEmpresas CMPC SAEmpresas COPEC SAEnel Americas SAEnel Chile SALatam Airlines Group SASACI Falabella

Bancolombia SA



13,000$

68,734

6,200

36,244

2,420

16,948

2,600

21,203

1,200

10,885

2,400

16,795

3,000

8,2981,400 8,0534,000 11,0631,200 4,7141,000 7,0221,800 3,7223,600 16,3852,000 12,078

600 9,794800 15,205

1,000 7,5722,600 6,2351,800 10,1453,400 9,8691,600 10,6252,400 19,121

200 5,823400 6,302

8,200 48,860600 10,033

3,400 12,6081,400 16,2032,600 9,3621,000 13,4268,871 120,6052,340 10,795

584,727Chile — 1.4%

52,327 8,114101 7,104

153,417 12,3023,790 10,040

468 5,9532,794 10,5711,394 21,258

103,930 20,080123,005 13,279

1,112 13,3922,030 18,981

141,074Colombia — 0.6%

980 11,239

Commercial International Bank Egypt SAE

Alpha Bank AE(a)

Eurobank Ergasias SA(a)

Hellenic Telecommunications Organization SA

JUMBO SAOPAP SA


Adaro Energy Tbk PTAstra International Tbk PTBank Central Asia Tbk PTBank Mandiri Persero Tbk PTBank Negara Indonesia Persero Tbk PTBank Rakyat Indonesia Persero Tbk PTCharoen Pokphand Indonesia Tbk PTGudang Garam Tbk PTHanjaya Mandala Sampoerna Tbk PTIndah Kiat Pulp & Paper Corp. Tbk PTIndocement Tunggal Prakarsa Tbk PTIndofood Sukses Makmur Tbk PTKalbe Farma Tbk PTMatahari Department Store Tbk PTPerusahaan Gas Negara Persero Tbk PTSemen Indonesia Persero Tbk PTTelekomunikasi Indonesia Persero Tbk PTUnilever Indonesia Tbk PTUnited Tractors Tbk PT

AMMB Holdings BhdAxiata Group BhdBritish American Tobacco Malaysia BhdCIMB Group Holdings BhdDialog Group BhdDiGi.Com BhdGamuda BhdGenting BhdGenting Malaysia BhdHartalega Holdings BhdHong Leong Bank BhdIHH Healthcare BhdIOI Corp. BhdKuala Lumpur Kepong BhdMalayan Banking BhdMalaysia Airports Holdings Bhd


Egypt — 0.2%

3,660$

17,229

Greece — 0.4%

4,454

9,519

4,724

4,963

1,016

12,156

434

6,961 971 10,428

44,027Hungary — 0.4%

1,104 10,392680 24,333416 8,127

42,852Indonesia — 3.0%

44,800 6,07861,400 30,49030,400 49,66457,000 28,92022,200 13,540

161,400 35,77626,000 6,8861,600 7,888

32,600 8,8927,000 9,4215,800 7,357

16,000 8,14756,200 5,5419,000 5,927

31,000 4,61811,400 6,892

141,400 35,8215,000 16,4094,600 11,603

299,870Malaysia — 3.4%

300 2688,600 9,421

400 3,25013,600 20,1618,800 7,186

10,200 11,3287,600 6,3786,800 15,0189,200 11,5123,600 5,5182,600 12,5306,000 9,0458,200 9,5392,000 12,513

12,400 30,0964,800 10,046



85

Ecopetrol SAGrupo Argos SA/ColombiaGrupo de Inversiones Suramericana SAInterconexion Electrica SA ESP

CEZ ASKomercni Banka AS

14,616 15,6381,430 9,616

988 12,6991,712 8,394

57,586Czech Republic — 0.2%

612 15,288260 10,521

25,809

Maxis BhdMISC BhdNestle Malaysia BhdPetronas Chemicals Group BhdPetronas Gas BhdPPB Group BhdPress Metal Aluminium Holdings Bhd

6,800 9,8926,000 8,849

200 7,4376,800 13,7542,400 10,6012,200 11,0113,000 3,565



iShares® MSCI Emerging Markets ex China ETF Schedule of Investments (unaudited) (continued)

May 31, 2018


Public Bank Bhd

Sime Darby Bhd

Sime Darby Plantation Bhd

Sime Darby Property Bhd

Tenaga Nasional BhdYTL Corp. Bhd

Alfa SAB de CV, Class AAmerica Movil SAB de CV, Series L, NVSArca Continental SAB de CVBanco Santander Mexico SA Institucion de Banca MultipleGrupo Financiero Santand, Class BCemex SAB de CV, CPO(a)

Coca-Cola Femsa SAB de CV, Series L, NVSFibra Uno Administracion SA de CVFomento Economico Mexicano SAB de CVGruma SAB de CV, Series BGrupo Aeroportuario del Pacifico SAB de CV, Series BGrupo Aeroportuario del Sureste SAB de CV, Class BGrupo Bimbo SAB de CV, Series AGrupo Financiero Banorte SAB de CV, Class OGrupo Financiero Inbursa SAB de CV, Class OGrupo Mexico SAB de CV, Class BGrupo Televisa SAB, CPOIndustrias Penoles SAB de CVInfraestructura Energetica Nova SAB de CVKimberly-Clark de Mexico SAB de CV, Class AMexichem SAB de CVPromotora y Operadora de Infraestructura SAB de CVWal-Mart de Mexico SAB de CV

Lucky Cement Ltd.

Cia. de Minas Buenaventura SAA, ADR, NVSCredicorp Ltd.Southern Copper Corp.

Aboitiz Equity Ventures Inc.Ayala Corp.Ayala Land Inc.BDO Unibank Inc.GT Capital Holdings Inc.JG Summit Holdings Inc.Jollibee Foods Corp.Metro Pacific Investments Corp.PLDT Inc.



8,400$

50,358

6,000

3,678

6,800

9,465

12,800

3,699

9,800

35,457 25,840 6,168

347,743Mexico — 3.9%

9,800 10,02994,200 72,9601,200 7,176

4,200 5,47840,400 23,9421,400 8,1768,600 11,8315,400 44,860

730 7,6291,200 10,190

770 12,1846,000 11,4117,000 37,1477,000 9,8539,800 24,2507,200 23,961

400 6,7331,200 4,9975,000 8,2923,600 10,108

670 6,00314,800 37,022

394,232Pakistan — 0.1%

1,350 6,380

Peru — 0.6%538 8,323190 42,070258 12,613


7,300 8,032790 14,135

26,000 19,6977,400 18,382

360 6,6479,680 10,5211,620 8,449

66,600 5,895300 7,395

CD Projekt SA

KGHM Polska Miedz SA

LPP SA

mBank SA



Polskie Gornictwo Naftowe i Gazownictwo SA

Powszechna Kasa Oszczednosci Bank Polski SA(a)

Powszechny Zaklad Ubezpieczen SA

Commercial Bank PQSC (The)Ezdan Holding Group QSC(a)

Industries Qatar QSCMasraf Al Rayan QSCOoredoo QPSCQatar Electricity & Water Co. QSCQatar Insurance Co. SAQQatar Islamic Bank SAQQatar National Bank QPSC

Alrosa PJSCGazprom PJSCInter RAO UES PJSCLUKOIL PJSCMagnit PJSC, GDR, NVS(b)

MMC Norilsk Nickel PJSCMobile TeleSystems PJSC, ADR, NVSMoscow Exchange MICEX-RTS PJSCNovatek PJSC, GDR, NVS(b)

Novolipetsk Steel PJSCPolyus PJSCRosneft Oil Co. PJSC, GDR, NVS(b)

RusHydro PJSCSberbank of Russia PJSC, ADRSeverstal PJSCSurgutneftegas OJSCTatneft PJSCVTB Bank PJSC, GDR, NVS(b)

X5 Retail Group NV, GDR(b)

AngloGold Ashanti Ltd.Aspen Pharmacare Holdings Ltd.Barclays Africa Group Ltd.


Poland (continued)

194$

7,719

454

10,396

4

10,185

26

2,961

3,406

9,059

916

20,178

6,568

10,154

2,791

28,3191,962 19,255

160,918Qatar — 1.0%

470 4,8582,628 6,101

507 14,2291,254 11,491

320 5,879208 10,820660 5,952247 7,763713 30,964

98,057Russia — 4.9%

8,000 11,33429,640 68,955

118,000 7,7241,244 84,0081,006 20,231

176 31,3751,392 13,3354,900 8,852

254 36,6014,620 12,093

62 3,7303,122 19,044

498,000 5,7847,118 102,357

500 8,04520,000 9,1874,363 46,6564,038 6,408

181 5,251

500,970South Africa — 9.5%

1,138 9,7021,154 22,7791,882 24,025



86

SM Investments Corp.SM Prime Holdings Inc.Universal Robina Corp.

Alior Bank SA(a)

Bank Polska Kasa Opieki SABank Zachodni WBK SACCC SA

720 11,89631,000 21,8333,740 9,112

141,994Poland — 1.6%

384 7,188562 16,983122 11,44296 7,079

Bid Corp. Ltd.Bidvest Group Ltd. (The)Capitec Bank Holdings Ltd.Clicks Group Ltd.Discovery Ltd.Exxaro Resources Ltd.FirstRand Ltd.Fortress REIT Ltd., Series BFoschini Group Ltd. (The)Gold Fields Ltd.Growthpoint Properties Ltd.Hyprop Investments Ltd.Imperial Holdings Ltd.

1,052 21,092852 13,589116 8,009650 10,367

1,012 12,317638 6,315

9,082 43,0263,383 3,953

688 10,0082,526 9,0118,140 17,482

880 7,191504 8,123




May 31, 2018


Investec Ltd.

Life Healthcare Group Holdings Ltd.

Mondi Ltd.

Mr. Price Group Ltd.

MTN Group Ltd.

Naspers Ltd., Class N

Nedbank Group Ltd.

NEPI Rockcastle PLCNetcare Ltd.Pick n Pay Stores Ltd.PSG Group Ltd.Rand Merchant Investment Holdings Ltd.Redefine Properties Ltd.Reinet Investments SCA(a)

Remgro Ltd.Resilient REIT Ltd.RMB Holdings Ltd.Sanlam Ltd.Sappi Ltd.Sasol Ltd.Shoprite Holdings Ltd.SPAR Group Ltd. (The)Standard Bank Group Ltd.Tiger Brands Ltd.Truworths International Ltd.Vodacom Group Ltd.Woolworths Holdings Ltd./South Africa

Amorepacific Corp.AMOREPACIFIC GroupBGF retail Co. Ltd.BNK Financial Group Inc.Celltrion Healthcare Co. Ltd.(a)

Celltrion Inc.(a)


CJ CheilJedang Corp.CJ Corp.CJ E&M Corp.Coway Co. Ltd.Daelim Industrial Co. Ltd.DB Insurance Co. Ltd.DGB Financial Group Inc.E-MART Inc.GS Holdings Corp.Hana Financial Group Inc.Hankook Tire Co. Ltd.



800$

5,820

4,170

9,384

360

9,969

766

15,181

5,190

46,921

1,226

292,923

510

11,017

1,104

10,8094,040 9,445

884 5,249428 7,360

2,390 7,24615,868 13,744

408 7,6801,462 23,549

844 3,8091,942 11,1374,776 28,6791,684 11,0671,598 57,7251,232 22,769

720 10,9583,732 61,115

488 12,9431,290 8,5641,542 17,4723,244 14,943

964,467South Korea — 21.3%

98 30,22996 11,22129 4,910

788 6,96797 8,981

226 55,66444 3,80428 9,10452 7,13954 4,539

160 12,958116 9,039152 8,249506 4,85866 15,307

154 8,329880 33,961246 9,779

Hyundai Mobis Co. Ltd.

Hyundai Motor Co.

Hyundai Steel Co.

Industrial Bank of Korea

Kakao Corp.

Kangwon Land Inc.


KCC Corp.KEPCO Plant Service & Engineering Co. Ltd.Kia Motors Corp.Korea Aerospace Industries Ltd.(a)

Korea Electric Power Corp.Korea Investment Holdings Co. Ltd.Korea Zinc Co. Ltd.KT&G Corp.LG Chem Ltd.LG Corp.LG Display Co. Ltd.LG Electronics Inc.LG Household & Health Care Ltd.LG Innotek Co. Ltd.Lotte Chemical Corp.Lotte Corp.(a)

Lotte Shopping Co. Ltd.Medy-Tox Inc.Mirae Asset Daewoo Co. Ltd.NAVER Corp.NCSoft Corp.Netmarble Corp.(c)

NH Investment & Securities Co. Ltd.OCI Co. Ltd.Orion Corp./Republic of KoreaPOSCOSamsung Biologics Co. Ltd.(a)(c)

Samsung C&T Corp.Samsung Electro-Mechanics Co. Ltd.Samsung Electronics Co. Ltd.Samsung Engineering Co. Ltd.(a)


Samsung Life Insurance Co. Ltd.Samsung SDI Co. Ltd.Samsung SDS Co. Ltd.Samsung Securities Co. Ltd.Shinhan Financial Group Co. Ltd.Shinsegae Inc.SillaJen Inc.(a)



198$

40,043

436

56,222

242

13,874

744

10,767

126

12,098

378

9,415

1,040

49,976

26

8,30962 2,327

802 23,176232 9,470766 23,557126 10,97626 9,781

330 29,389136 42,707306 20,836702 14,457300 25,77128 34,88546 6,14548 16,40978 4,24035 7,27314 9,787

1,168 10,18580 49,65052 17,02968 9,904

514 7,55846 5,65458 6,968

222 69,91946 18,563

218 25,381162 20,138

13,254 623,385390 6,67592 21,379

1,178 8,185220 21,021158 29,388100 19,574254 8,695

1,262 51,22020 8,145

146 10,903



87

Hanmi Pharm Co. Ltd.Hanon SystemsHanwha Chemical Corp.Hanwha Corp.HLB Inc.(a)

Hotel Shilla Co. Ltd.Hyosung Corp.Hyundai Development Co. Engineering & ConstructionHyundai Engineering & Construction Co. Ltd.Hyundai Glovis Co. Ltd.Hyundai Heavy Industries Co. Ltd.(a)


Hyundai Marine & Fire Insurance Co. Ltd.

16 7,169638 5,978362 8,681104 3,47386 11,01092 10,58372 8,950

160 6,887232 15,88462 7,736

110 11,68432 11,518

202 6,381

SK Holdings Co. Ltd.SK Hynix Inc.SK Innovation Co. Ltd.SK Telecom Co. Ltd.S-Oil Corp.ViroMed Co. Ltd.(a)

Woori BankYuhan Corp.

Acer Inc.ASE Industrial Holding Co. Ltd.Asia Cement Corp.

100 25,6971,624 140,713

182 34,78158 11,945

126 12,56638 9,342

1,004 14,25033 7,286

2,158,961Taiwan — 17.0%

8,000 6,55510,000 25,36610,000 11,031




May 31, 2018


Asustek Computer Inc.

AU Optronics Corp.

Catcher Technology Co. Ltd.

Cathay Financial Holding Co. Ltd.

Chailease Holding Co. Ltd.

Chang Hwa Commercial Bank Ltd.

Cheng Shin Rubber Industry Co. Ltd.

China Airlines Ltd.(a)

China Development Financial Holding Corp.China Life Insurance Co. Ltd./TaiwanChina Steel Corp.Chunghwa Telecom Co. Ltd.Compal Electronics Inc.CTBC Financial Holding Co. Ltd.Delta Electronics Inc.E.Sun Financial Holding Co. Ltd.Far Eastern New Century Corp.Far EasTone Telecommunications Co. Ltd.Feng TAY Enterprise Co. Ltd.First Financial Holding Co. Ltd.Formosa Chemicals & Fibre Corp.Formosa Petrochemical Corp.Formosa Plastics Corp.Foxconn Technology Co. Ltd.Fubon Financial Holding Co. Ltd.Hon Hai Precision Industry Co. Ltd.Hotai Motor Co. Ltd.Hua Nan Financial Holdings Co. Ltd.Innolux Corp.Inventec Corp.Largan Precision Co. Ltd.Lite-On Technology Corp.Macronix International(a)

MediaTek Inc.Mega Financial Holding Co. Ltd.Micro-Star International Co. Ltd.Nan Ya Plastics Corp.Nanya Technology Corp.Novatek Microelectronics Corp.Pegatron Corp.Pou Chen Corp.Powertech Technology Inc.President Chain Store Corp.Quanta Computer Inc.Shin Kong Financial Holding Co. Ltd.SinoPac Financial Holdings Co. Ltd.Synnex Technology International Corp.


Taiwan (continued)

2,000$

18,123

26,000

11,411

2,000

23,263

24,000

42,935

4,000

14,285

16,800

9,841

4,000

6,088

11,000

3,72648,000 18,0238,720 9,153

36,000 28,35610,000 36,38016,000 10,52044,000 31,7216,000 22,229

26,074 18,18810,000 9,5296,000 15,3002,000 8,878

26,520 18,01210,000 38,3834,000 16,221

12,000 43,0554,000 9,853

16,000 27,82244,000 125,855

600 5,47723,100 13,80128,000 10,84110,000 8,094

288 39,4118,000 10,4406,000 9,9134,000 41,587

32,000 28,0362,000 8,344

14,000 39,1104,000 13,2972,000 9,0456,000 12,6768,000 9,7992,000 5,9682,000 20,4938,000 14,151

26,000 10,41339,470 14,6232,000 3,204

Wistron Corp.

WPG Holdings Ltd.

Yageo Corp.Yuanta Financial Holding Co. Ltd.

Advanced Info Service PCL, NVDR

Airports of Thailand PCL, NVDRBangkok Dusit Medical Services PCL, NVDRBanpu PCL, NVDRBerli Jucker PCL, NVDRBumrungrad Hospital PCL, NVDRCentral Pattana PCL, NVDRCharoen Pokphand Foods PCL, NVDRCP ALL PCL, NVDREnergy Absolute PCL, NVDRIndorama Ventures PCL, NVDRKasikornbank PCLKasikornbank PCL, NVDRKrung Thai Bank PCL, NVDRMinor International PCL, NVDRPTT Exploration & Production PCL, NVDRPTT Global Chemical PCL, NVDRPTT PCL, NVDRSiam Cement PCL (The), NVDRSiam Commercial Bank PCL (The), NVDRThai Oil PCL, NVDRTrue Corp. PCL, NVDR

Akbank Turk ASArcelik ASBIM Birlesik Magazalar ASEregli Demir ve Celik Fabrikalari TASHaci Omer Sabanci Holding ASKOC Holding ASPetkim Petrokimya Holding ASTupras Turkiye Petrol Rafinerileri ASTurk Hava Yollari AO(a)

Turkcell Iletisim Hizmetleri ASTurkiye Garanti Bankasi ASTurkiye Halk Bankasi ASTurkiye Is Bankasi AS, Class CTurkiye Vakiflar Bankasi TAO, Class D

Abu Dhabi Commercial Bank PJSCAldar Properties PJSCDAMAC Properties Dubai Co. PJSC


Taiwan (continued)

10,296$

7,749

8,000

11,615

1,000

31,741 26,000 12,236

1,722,343Thailand — 3.5%

3,400

20,247

11,800

25,26714,400 12,04111,000 7,2215,400 9,6221,400 8,4253,700 8,819

11,800 9,22214,800 37,3594,600 5,5726,400 11,6543,400 20,7252,400 14,367

14,200 7,7686,600 6,7054,800 20,1817,400 20,645

30,000 49,0001,100 15,3365,400 22,4513,400 9,778

35,600 7,957

350,362Turkey — 1.1%

7,804 13,8111,020 3,736

714 10,8974,508 11,1573,188 6,5552,438 7,5063,454 3,585

408 9,5401,854 6,8033,628 9,5957,000 13,7462,200 3,7245,900 7,7503,800 4,581

112,986United Arab Emirates — 0.9%

6,136 11,74417,462 9,7467,026 4,571



88

Taishin Financial Holding Co. Ltd.Taiwan Cement Corp.Taiwan Cooperative Financial Holding Co. Ltd.Taiwan High Speed Rail Corp.Taiwan Mobile Co. Ltd.Taiwan Semiconductor Manufacturing Co. Ltd.Teco Electric and Machinery Co. Ltd.Uni-President Enterprises Corp.United Microelectronics Corp.Vanguard International Semiconductor Corp.Walsin Technology Corp.Win Semiconductors Corp.Winbond Electronics Corp.

35,460 17,45710,000 14,55224,720 14,5628,000 6,1814,000 14,685

68,000 508,38610,000 8,06014,000 34,15736,000 20,0062,000 4,3791,000 12,9331,000 8,127

10,000 6,692

DP World Ltd.Dubai Islamic Bank PJSCEmaar Properties PJSCEmirates Telecommunications Group Co. PJSCFirst Abu Dhabi Bank PJSC


546 12,2853,200 4,417

10,876 15,3975,602 24,7074,000 13,394

96,261

8,331,854



BlackRock Cash Funds: Treasury, SL AgencySharesiShares MSCI India ETFiShares MSCI Qatar Capped ETF


May 31, 2018



Affiliated Issuer


Shares Purchased

Shares Sold


Value at 05/31/18

Income

Net



15,969 — (4,355) (a) 11,614$

11,614

$100

$ —

$ —

36,404 1,714 (437) 37,681 1,267,966 9,890 295 (18,393)5,430 — (5,430) — — — (19,411) 5,702

$1,279,580

$9,990

$(19,116)

$(12,691)

iShares MSCI India ETF(d)


Banco Bradesco SA, Preference Shares, NVS

Braskem SA, Class A, Preference Shares, NVS

Cia. Brasileira de Distribuicao, Preference Shares, NVSCia. Energetica de Minas Gerais, Preference Shares, NVSGerdau SA, Preference Shares, NVSItau Unibanco Holding SA, Preference Shares, NVSItausa-Investimentos Itau SA, Preference Shares, NVSLojas Americanas SA, Preference Shares, NVSPetroleo Brasileiro SA, Preference Shares, NVSTelefonica Brasil SA, Preference Shares, NVS

Embotelladora Andina SA, Class B, Preference SharesSociedad Quimica y Minera de Chile SA, Series B,Preference Shares

Bancolombia SA, Preference Shares, NVS

Surgutneftegas OJSC, Preference Shares, NVS



Investment CompaniesIndia — 12.5%

37,681$

1,267,965


9,680

75,822

400

4,876

600

12,8093,708 7,6373,000 11,9239,200 106,179

12,077 36,4192,400 11,452

10,800 55,0431,200 14,661

336,821Chile — 0.2%

1,708 7,379

280 14,583

21,962Colombia — 0.1%

922 10,695

Russia — 0.1%20,000 9,781

South Korea — 1.1%Hyundai Motor Co.

56 4,64586 7,539

Samsung Electronics Co. Ltd., Preference Shares, NVS

Total Preferred Stocks — 4.8%(Cost: $478,144)

Dubai Islamic Bank PJSC, NVS (Expires 06/06/18)(a)








2,500$

93,928

106,112

485,371RightsUnited Arab Emirates — 0.0%

1,066 569

569Short-Term InvestmentsMoney Market Funds — 0.1%

11,614 11,614

11,614

10,097,373

39,714

$10,137,087

(a) Non-income producing security.(b) This security may be resold to qualified foreign investors and foreign institutional

buyers under Regulation S of the Securities Act of 1933.(c) Security exempt from registration pursuant to Rule 144A under the Securities Act


(d) Affiliate of the Fund.(e) Annualized 7-day yield as of period-end.



(a) Net of purchases and sales.


89



Common Stocks

Investment Companies

Preferred Stocks

Rights

Money Market Funds

ADRCPOGDRNVDRNVS


May 31, 2018




Investments

Assets

$ 8,217,960

$ 113,894

$ —

$ 8,331,854

1,267,965

—

—

1,267,965

485,371

—

—

485,371

—

569

—

569

11,614

—

—

11,614

$ 9,982,910

$ 114,463

$ —

$10,097,373




90



iShares® MSCI Emerging Markets Small-Cap ETF Consolidated Schedule of Investments (unaudited)

May 31, 2018


AES Tiete Energia SA, NVS

Aliansce Shopping Centers SA

Alupar Investimento SA, Units, NVS

Anima Holding SA

Arezzo Industria e Comercio SA

B2W Cia. Digital(a)

BK Brasil Operacao e Assessoria a RestaurantesSA(a)

BR Properties SACia. de Gas de Sao Paulo - COMGAS, NVSCia. de Saneamento de Minas Gerais-COPASACia. HeringCosan Logistica SA(a)

CVC Brasil Operadora e Agencia de Viagens SACyrela Brazil Realty SA Empreendimentos eParticipacoesDommo Energia SA(a)

Duratex SAEcoRodovias Infraestrutura e Logistica SAEletropaulo Metropolitana Eletricidade de Sao PauloSAEstacio Participacoes SAEz Tec Empreendimentos e Participacoes SAFleury SAGuararapes Confeccoes SAIguatemi Empresa de Shopping Centers SAInstituto Hermes Pardini SAIochpe Maxion SALight SALinx SAMagnesita Refratarios SAMahle-Metal Leve SAMarfrig Global Foods SA(a)

Minerva SAMRV Engenharia e Participacoes SAMultiplus SAQGEP Participacoes SAQualicorp SASantos Brasil Participacoes SASao Martinho SASer Educacional SA(b)

SLC Agricola SASmiles Fidelidade SATOTVS SATransmissora Alianca de Energia Eletrica SA, NVSTupy SAValid Solucoes e Servicos de Seguranca em Meios dePagamento e Identificacao SAVia Varejo SAWiz Solucoes e Corretagem de Seguros SA



66,500$

178,033

41,600

169,459

69,908

293,219

18,800

94,403

19,600

224,997

85,823

584,206

64,300

284,89164,841 133,197

160 2,46327,800 322,48860,400 275,39766,422 179,07368,100 932,614

119,300 374,489561,100 248,604133,700 350,042108,400 229,954

52,600 494,354122,900 829,99325,344 122,43184,400 557,0693,700 108,008

41,700 351,82523,700 126,32644,305 283,03037,200 123,36655,400 282,64913,300 240,67517,700 128,328

102,300 217,28846,200 87,833

128,400 464,42724,000 167,56040,000 130,933

115,100 588,782144,100 106,41084,800 398,94634,435 159,87526,900 327,21629,300 458,45556,400 424,812

106,100 548,15724,400 117,609

32,440 158,36566,300 415,70532,000 65,305

Parque Arauco SA

Ripley Corp. SA

Salfacorp SA

SMU SA(a)

Sociedad de Inversiones Oro Blanco SA

SONDA SAVina Concha y Toro SA

21Vianet Group Inc., GDR(a)

361 Degrees International Ltd.500.com Ltd., ADR(a)(c)

AGTech Holdings Ltd.(a)(c)

Ajisen China Holdings Ltd.Anton Oilfield Services Group/Hong Kong(a)

Anxin-China Holdings Ltd.(a)(d)

APT Satellite Holdings Ltd.Asia Cement China Holdings Corp.AVIC International Holding HK Ltd.(a)(c)

AVIC International Holdings Ltd., Class HBaozun Inc., ADR(a)(c)

Beijing Capital Land Ltd., Class HBeijing Enterprises Medical & Health Group Ltd.(a)

Beijing Gas Blue Sky Holdings Ltd.(a)(c)

Beijing Sports and Entertainment Industry Group Ltd.,NVSBeijing Tong Ren Tang Chinese Medicine Co. Ltd.(c)

Best Pacific International Holdings Ltd.(c)

Bitauto Holdings Ltd., ADR(a)(c)

Boshiwa International Holding Ltd.(a)(d)

Bosideng International Holdings Ltd.Boyaa Interactive International Ltd.(a)

C C Land Holdings Ltd.C.banner International Holdings Ltd.(a)(c)

Canvest Environment Protection Group Co. Ltd.(c)

Capital Environment Holdings Ltd.(a)(c)

Carnival Group International Holdings Ltd.(a)(c)

Central China Real Estate Ltd.CGN Meiya Power Holdings Co. Ltd.(a)(b)

Changyou.com Ltd., ADRChaowei Power Holdings Ltd.(c)

China Aerospace International Holdings Ltd.China Aircraft Leasing Group Holdings Ltd.China Animal Healthcare Ltd.(a)(c)(d)

China Aoyuan Property Group Ltd.(c)

China Beidahuang Industry Group Holdings Ltd.(a)

China BlueChemical Ltd., Class HChina Chengtong Development Group Ltd.(a)

China Datang Corp. Renewable Power Co. Ltd., ClassH


Chile (continued)

252,080$

728,028

317,700

318,256

173,804

306,134

1,143,309

357,528

14,245,982

141,927

244,454

398,803 173,638 370,798

5,040,522China — 14.4%

32,479 268,601310,000 97,614

8,114 154,9771,952,000 228,940

367,000 149,249896,000 141,639

1,084,000 17,965117,000 52,503265,000 160,470

2,134,000 85,696128,000 84,52716,499 1,011,554

442,000 228,7722,208,000 118,2234,304,000 296,292

345,000 127,107130,000 275,772146,000 55,83811,152 278,01932,000 204

2,428,000 272,386137,000 47,855937,000 213,819498,000 147,924349,000 192,204

2,824,000 88,9233,777,500 166,141

350,000 189,632838,000 148,495

7,380 138,227310,000 180,211

2,882,000 308,622233,000 246,540126,000 1,285548,000 447,110620,000 23,712800,000 267,205798,000 34,080

1,203,000 251,515



91

AES Gener SABesalco SACAP SACia. Sud Americana de Vapores SA(a)

Engie Energia Chile SAForus SAInversiones Aguas Metropolitanas SAInversiones La Construccion SA

13,363,261Chile — 1.5%

1,479,538 386,079181,317 200,18933,523 348,893

6,390,975 246,264233,334 468,31942,955 148,960

199,178 325,75916,855 294,585

China Dongxiang Group Co. Ltd.China Electronics Huada Technology Co. Ltd.(c)

China Electronics Optics Valley Union Holding Co Ltd.China Everbright Greentech Ltd., Class L(b)

China Fangda Group Co. Ltd., Class BChina Foods Ltd.China Goldjoy Group Ltd.(c)

China Grand Pharmaceutical and Healthcare HoldingsLtd., Class A(a)

China Greenland Broad Greenstate Group Co. Ltd.(c)

China Harmony New Energy Auto Holding Ltd.(a)(c)

1,922,000 365,085560,000 86,383

2,732,000 229,868301,000 336,143386,300 216,686404,000 202,923

3,428,000 222,877

416,000 327,745492,000 67,740352,000 181,292



iShares® MSCI Emerging Markets Small-Cap ETF Consolidated Schedule of Investments (unaudited) (continued)

May 31, 2018


China High Speed Transmission Equipment Group Co.Ltd.(c)

China Huiyuan Juice Group Ltd.(a)

China Innovationpay Group Ltd.(a)(c)

China Internet Nationwide Financial Services Inc.(a)(c)

China Investment Fund International Holdings Co. Ltd.(a)

China Lesso Group Holdings Ltd.

China Lilang Ltd.

China Logistics Property Holdings Co. Ltd.(a)(b)(c)

China Lumena New Materials Corp.(a)(c)(d)

China Maple Leaf Educational Systems Ltd.China Merchants Land Ltd.(c)

China Metal Recycling Holdings Ltd., NVS(a)(d)

China Metal Resources Utilization Ltd.(a)(b)(c)

China Modern Dairy Holdings Ltd.(a)

China New Higher Education Group Ltd.(b)

China NT Pharma Group Co. Ltd.China Oil & Gas Group Ltd.China Overseas Grand Oceans Group Ltd.China Overseas Property Holdings Ltd.(c)

China Power Clean Energy Development Co. Ltd.China Regenerative Medicine International Ltd.(a)

China Resources Phoenix Healthcare Holdings Co.Ltd.(c)

China Sanjiang Fine Chemicals Co. Ltd.China SCE Property Holdings Ltd.China Shengmu Organic Milk Ltd.(a)(b)(c)

China Shineway Pharmaceutical Group Ltd.(c)

China Silver Group Ltd.China Singyes Solar Technologies Holdings Ltd.(c)

China Suntien Green Energy Corp. Ltd., Class HChina Water Affairs Group Ltd.China Water Industry Group Ltd.(a)(c)

China Yuchai International Ltd.China Yuhua Education Corp Ltd., Class L(b)(c)

China ZhengTong Auto Services Holdings Ltd.(c)

Chinasoft International Ltd.(c)

Chongqing Machinery & Electric Co. Ltd., Class HCIMC Enric Holdings Ltd.CITIC Resources Holdings Ltd.(c)

Citychamp Watch & Jewellery Group Ltd.(c)

COFCO Meat Holdings Ltd.(a)(c)

Cogobuy Group(b)(c)

Colour Life Services Group Co. Ltd.(c)

Comba Telecom Systems Holdings Ltd.(c)

Concord New Energy Group Ltd.Consun Pharmaceutical Group Ltd.


China (continued)

232,000$

340,126

379,000

97,599

2,740,000

328,347

3,602

85,872

368,000

375,781

2,000

1,410

221,000

332,452

558,000

200,603210,000 —344,000 655,184920,000 180,61912,000 —

408,000 256,946692,000 132,328238,000 239,694263,500 72,223

2,670,000 211,036699,000 303,868590,000 230,159354,000 195,409

4,960,000 88,525

432,000 552,932415,000 168,240772,000 407,448

1,777,000 183,496133,000 289,597496,000 95,480306,000 114,689787,000 275,906392,000 385,796900,000 181,282

8,885 204,799550,000 403,167513,500 443,183896,000 753,887

1,942,000 180,728292,000 344,705

1,868,000 216,707764,000 160,706930,000 154,128276,000 142,149169,000 164,817858,894 137,963

5,320,000 250,939197,000 221,257

FDG Electric Vehicles Ltd.(a)(c)

Fu Shou Yuan International Group Ltd.(c)

Fufeng Group Ltd.(c)

GCL New Energy Holdings Ltd.(a)(c)

Gemdale Properties & Investment Corp. Ltd.

Glorious Property Holdings Ltd.(a)

Grand Baoxin Auto Group Ltd.(a)

Greatview Aseptic Packaging Co. Ltd.Greenland Hong Kong Holdings Ltd.Greentown Service Group Co. Ltd.(c)

Ground International Development Ltd.(a)(c)

Guorui Properties Ltd.(c)

Haichang Ocean Park Holdings Ltd.(a)(b)

Hangzhou Steam Turbine Co. Ltd., Class BHarbin Electric Co. Ltd., Class HHC International Inc.(c)

Hi Sun Technology China Ltd.(a)

Honghua Group Ltd.(a)(c)

Hua Han Health Industry Holdings Ltd., Class H(a)(d)

Hua Hong Semiconductor Ltd.(b)(c)

Huabao International Holdings Ltd.(c)

Huangshi Dongbei Electrical Appliance Co. Ltd., ClassBHuanxi Media Group Ltd.(a)(c)

Huayi Tencent Entertainment Co. Ltd.(a)(c)

IGG Inc.(c)

iKang Healthcare Group Inc., ADR(a)(c)

IMAX China Holding Inc.(b)

JA Solar Holdings Co. Ltd., ADR(a)(c)

Jinchuan Group International Resources Co. Ltd.(a)

JinkoSolar Holding Co. Ltd., ADR(a)(c)

JNBY Design Ltd.Jumei International Holding Ltd., ADR(a)(c)

Jupai Holdings Ltd., NVSKama Co. Ltd., Class B(a)

Kong Sun Holdings Ltd.(a)

Konka Group Co. Ltd., Class B(a)

KuangChi Science Ltd.(a)

Lao Feng Xiang Co. Ltd., Class BLaunch Tech Co. Ltd.Lee's Pharmaceutical Holdings Ltd.(c)

Li Ning Co. Ltd.(a)

Lifestyle China Group Ltd.(a)

Lifetech Scientific Corp.(a)(c)

Lonking Holdings Ltd.Luthai Textile Co. Ltd., Class B


China (continued)

7,330,000$

145,775

435,000

484,680

686,400

388,521

3,232,000

175,111

2,628,000

311,575

1,277,000

91,166

333,000

146,884

408,000

305,318413,000 196,914458,000 472,938605,000 108,750452,000 142,904759,000 208,034125,380 113,326414,000 143,557252,000 166,412936,000 173,021

1,232,000 125,6481,112,400 63,816

159,000 385,128427,000 281,976

69,200 86,708530,000 133,106

3,130,000 223,453430,000 675,35723,155 471,89965,600 232,07122,887 165,702

752,000 138,04912,687 223,54593,500 224,56729,622 77,0176,501 154,204

125,500 80,3202,600,000 74,578

370,400 143,548116,000 16,85842,500 141,61062,500 74,897

145,000 236,979781,000 937,899341,000 161,715

1,090,000 398,807847,000 424,356164,200 194,466



92

Coolpad Group Ltd.(a)(d)

COSCO SHIPPING International Hong Kong Co. Ltd.(c)

Cosmo Lady China Holdings Co. Ltd.(b)(c)

CPMC Holdings Ltd.CT Environmental Group Ltd.(c)

Dah Chong Hong Holdings Ltd.(c)

Daqo New Energy Corp., ADR(a)

Dawnrays Pharmaceutical Holdings Ltd.Dazhong Transportation Group Co. Ltd., Class BDigital China Holdings Ltd.(a)(c)

Dongyue Group Ltd.(d)

eHi Car Services Ltd., ADR(a)

Fanhua Inc., ADRFantasia Holdings Group Co. Ltd.(c)

1,024,000 7,833

564,000 235,834268,000 151,354230,000 146,020

1,036,000 146,601436,000 234,559

4,587 264,486278,000 171,886215,600 103,272375,000 244,768534,000 490,14919,483 258,15018,047 522,822

922,500 166,997

Nam Tai Property Inc.National Agricultural Holdings Ltd.(a)(c)(d)

NetDragon Websoft Holdings Ltd.(c)

New Provenance Everlasting Holdings Ltd.(a)

North Mining Shares Co. Ltd.(a)(c)

O-Net Technologies Group Ltd.(a)(c)

Panda Green Energy Group Ltd.(a)(c)

PAX Global Technology Ltd.(c)

Phoenix Media Investment Holdings Ltd.Phoenix New Media Ltd., ADR(a)

Poly Property Group Co. Ltd.(a)

Pou Sheng International Holdings Ltd.Powerlong Real Estate Holdings Ltd.Q Technology Group Co. Ltd.(c)

Realord Group Holdings Ltd.(a)(c)

17,201 210,712354,000 40,16591,500 240,294

4,350,000 42,7015,940,000 96,171

189,000 120,9541,828,000 193,423

455,000 232,020690,000 61,575

4,021 22,156929,000 447,674912,000 170,909548,000 329,744186,000 158,159202,000 117,685




May 31, 2018


Redco Group(b)

Renhe Commercial Holdings Co. Ltd.(a)

Road King Infrastructure Ltd.

Ronshine China Holdings Ltd.(a)

Sany Heavy Equipment International Holdings Co. Ltd.

Seaspan Corp.(c)

Shandong Airlines Co. Ltd., Class B

Shang Gong Group Co. Ltd., Class B(a)

Shanghai Baosight Software Co. Ltd., Class BShanghai Dasheng Agricultural Finance TechnologyCo. Ltd.Shanghai Haixin Group Co., Class BShanghai Haohai Biological Technology Co. Ltd.(b)

Shanghai Industrial Urban Development Group Ltd.Shanghai Jinjiang International Industrial InvestmentCo. Ltd., Class BShanghai Jinjiang International Travel Co. Ltd., ClassBShanghai Lingyun Industries Development Co. Ltd.,Class B(a)

Shanghai Shibei Hi-Tech Co. Ltd., Class BShanghai Zhongyida Co. Ltd.(a)

Shougang Concord International Enterprises Co. Ltd.(a)(c)

Shougang Fushan Resources Group Ltd.Silver Grant International Industries Ltd.(a)

Sino Oil And Gas Holdings Ltd.(a)

Sinolink Worldwide Holdings Ltd.(a)

Sinopec Kantons Holdings Ltd.Sinosoft Technology Group Ltd.(c)

Sinotrans Shipping Ltd.(c)

Skyfame Realty Holdings Ltd.(a)

SMI Holdings Group Ltd.(c)

Sohu.com Inc.(a)

Suncity Group Holdings Ltd.(a)

Superb Summit International Group Ltd.(a)(c)(d)

Tarena International Inc., ADRTCL Multimedia Technology Holdings Ltd.(c)

Texhong Textile Group Ltd.Tian Ge Interactive Holdings Ltd.(b)(c)

Tianjin Development Holdings Ltd.Tianjin Port Development Holdings Ltd.Tianneng Power International Ltd.Tibet Water Resources Ltd.(a)(c)

Tongda Group Holdings Ltd.(c)

TPV Technology Ltd.Truly International Holdings Ltd.(c)


China (continued)

394,000$

224,521

6,222,000

131,672

102,000

197,130

225,500

331,747

467,000

148,837

27,591

242,249

65,400

118,058

313,300

253,46041,500 67,852

24,000 229250,200 137,36022,900 166,842

876,000 188,732

196,800 228,682

100 227

83,181 58,227154,184 60,440324,600 86,019

5,030,415 144,2911,044,000 262,193

804,000 201,9193,890,000 20,3321,020,000 131,333

492,000 264,059310,800 143,431716,000 196,248344,000 256,548680,800 301,16414,256 516,923

880,000 161,547238,250 44315,560 149,532

268,000 132,562115,000 199,677238,000 212,388446,000 199,570

1,884,000 269,000310,000 481,352987,000 424,034

1,660,000 395,734252,000 30,841740,000 154,714

YiChang HEC ChangJiang Pharmaceutical Co. Ltd.,Class H(b)

Yihai International Holding Ltd.(c)

Yuexiu REIT

Yuexiu Transport Infrastructure Ltd.Zhuguang Holdings Group Co. Ltd.(a)(c)

Almacenes Exito SACemex Latam Holdings SA(a)

Corp. Financiera Colombiana SA

Central European Media Enterprises Ltd. AS ClassA(a)(c)

Alexandria Mineral Oils Co.Egyptian Financial Group-Hermes Holding Co.Ezz Steel(a)

Global Telecom Holding SAE(a)

Heliopolis HousingJuhayna Food IndustriesMedinet Nasr HousingOriental WeaversPalm Hills Developments SAE(a)

Pioneers Holding For Financial Investments SAE(a)

Sidi Kerir Petrochemicals Co.Six of October Development & Investment(a)

Talaat Moustafa GroupTelecom Egypt Co.

Aegean Airlines SAGEK Terna Holding Real Estate Construction SA(a)

Grivalia Properties REIC AEHellenic Exchanges-Athens Stock Exchange SAMotor Oil Hellas Corinth Refineries SAMytilineos Holdings SA(a)

Public Power Corp. SA(a)

Terna Energy SA

Magyar Telekom Telecommunications PLC

Aarti IndustriesAdani Green Energy Ltd.(a)

Adani Power Ltd.(a)

Aditya Birla Fashion and Retail Ltd.(a)

Aegis Logistics Ltd.


China (continued)

48,400$

265,319

192,000

354,425

615,000

430,429

432,000

340,350 1,072,000 209,093

48,270,199Colombia — 0.3%

83,664

477,99686,128 265,42235,025 304,892


33,144 127,677

Egypt — 0.6%211,394 147,545219,164 280,58488,085 127,09495,726 26,05158,049 99,846

200,233 139,531317,201 188,424104,075 81,597718,916 193,238199,588 89,67282,825 135,84393,147 129,557

449,969 301,237175,908 144,599

2,084,818Greece — 0.8%

25,886 261,37552,135 321,32629,634 321,70360,090 347,90928,286 572,53654,962 582,54756,032 131,46621,236 121,961

2,660,823Hungary — 0.1%

198,998 301,548

India — 15.1%10,899 200,99789,049 10,959

456,546 136,323112,130 246,41841,214 166,731



93

Universal Medical Financial & Technical AdvisoryServices Co. Ltd.(b)(c)

Vinda International Holdings Ltd.(c)

Viva China Holdings Ltd.(a)

Wasion Group Holdings Ltd.West China Cement Ltd.Wisdom Education International Holdings Co. Ltd.(c)

Xiamen International Port Co. Ltd., Class HXingda International Holdings Ltd.Xinjiang Xinxin Mining Industry Co. Ltd., Class H(a)

Xinyuan Real Estate Co. Ltd., ADRXtep International Holdings Ltd.Xunlei Ltd., ADR(a)

Yadea Group Holdings Ltd.(b)

426,500 388,214107,000 191,789

1,352,000 163,740278,000 162,672

1,184,000 221,882290,000 253,985

1,406,000 259,901456,000 163,352471,000 73,85522,286 119,676

452,000 287,53712,910 159,697

490,000 181,154

AIA Engineering Ltd.Ajanta Pharma Ltd.(a)

Alembic Pharmaceuticals Ltd.Allcargo Logistics Ltd.Amara Raja Batteries Ltd.Apollo Hospitals Enterprise Ltd.Apollo Tyres Ltd.Arvind Ltd.Asahi India Glass Ltd.Astral Polytechnik Ltd.

20,109 459,57313,464 192,00630,034 190,26536,014 66,55018,443 218,21738,440 541,347

115,934 462,65469,533 399,94429,503 151,55414,570 223,486




May 31, 2018


Avanti Feeds Ltd.

Balkrishna Industries Ltd.

BASF India Ltd.

Bata India Ltd.

Bayer CropScience Ltd./India

Birla Corp. Ltd.

Blue Dart Express Ltd.

Can Fin Homes Ltd.Canara BankCapital First Ltd.Care Ratings Ltd.Ceat Ltd.Century Plyboards India Ltd.Century Textiles & Industries Ltd.CESC Ltd.CG Power and Industrial Solutions Ltd.(a)

City Union Bank Ltd.Coromandel International Ltd.Cox & Kings Ltd.CRISIL Ltd.Crompton Greaves Consumer Electricals Ltd.Dalmia Bharat Ltd.DCB Bank Ltd.Dewan Housing Finance Corp. Ltd.Dilip Buildcon Ltd.(b)

Dish TV India Ltd.(a)

Dr Lal PathLabs Ltd.(b)

eClerx Services Ltd.Edelweiss Financial Services Ltd.EID Parry India Ltd.(a)

EIH Ltd.Endurance Technologies Ltd.(b)

Engineers India Ltd.Eris Lifesciences Ltd.(a)(b)

Escorts Ltd.Exide Industries Ltd.Federal Bank Ltd.Finolex Cables Ltd.Fortis Healthcare Ltd.(a)

Future Lifestyle Fashions Ltd.Gateway Distriparks Ltd.Gayatri Highways Ltd., NVS(a)

Gayatri Projects Ltd.(a)

GE T&D India Ltd.Gillette India Ltd.GMR Infrastructure Ltd.(a)

Godfrey Phillips India Ltd.


India (continued)

5,422$

131,194

34,386

578,140

6,406

192,439

21,042

243,059

4,556

312,096

9,935

109,277

3,465

177,141

17,330

97,29165,415 249,27228,991 245,19912,139 233,19211,350 229,05239,224 162,37117,844 250,44930,580 461,900

239,216 218,00959,344 172,67039,327 262,80254,739 174,8058,870 225,429

168,260 565,3769,374 378,724

85,007 233,29463,672 578,52817,122 211,188

316,288 342,14811,564 147,58613,667 267,669

204,213 987,43763,223 221,85380,071 209,72214,403 279,491

110,178 214,69915,226 181,99226,488 366,002

113,592 437,148645,938 811,70042,648 432,974

158,372 345,34028,874 191,7098,098 22,248

79,435 10,60672,596 202,51539,461 181,1003,847 374,675

981,624 264,01611,824 131,990

Hindustan Construction Co. Ltd.(a)

Housing Development & Infrastructure Ltd.(a)

IDFC Bank Ltd.

IDFC Ltd.

IIFL Holdings Ltd.

India Cements Ltd. (The)

Indiabulls Real Estate Ltd.(a)

Indiabulls Ventures Ltd.Indian BankIndian Hotels Co. Ltd. (The)Indraprastha Gas Ltd.Infibeam Incorporation Ltd.Info Edge India Ltd.Inox Leisure Ltd.(a)

Ipca Laboratories Ltd.IRB Infrastructure Developers Ltd.Jain Irrigation Systems Ltd.Jaiprakash Associates Ltd.(a)

Jammu & Kashmir Bank Ltd. (The)(a)

Jindal Steel & Power Ltd.(a)

JK Cement Ltd.JM Financial Ltd.JSW Energy Ltd.Jubilant Foodworks Ltd.Jubilant Life Sciences Ltd.Just Dial Ltd.(a)

Kajaria Ceramics Ltd.Karnataka Bank Ltd. (The)Karur Vysya Bank Ltd. (The)Kaveri Seed Co. Ltd.KEC International Ltd.KPIT Technologies Ltd.KRBL Ltd.Lakshmi Machine Works Ltd.Larsen & Toubro Infotech Ltd.(b)

Laurus Labs Ltd.(b)

Magma Fincorp Ltd.Mahanagar Gas Ltd.Mahindra CIE Automotive Ltd.(a)

Manappuram Finance Ltd.Marksans Pharma Ltd.Max Financial Services Ltd.(a)

Max India Ltd.(a)

Minda Industries Ltd.Mindtree Ltd.MOIL Ltd.Motilal Oswal Financial Services Ltd.


India (continued)

269,032$

59,003

143,961

56,533

779,186

469,942

445,358

334,270

47,180

488,981

115,568

222,547

105,906

295,201

61,220

423,93437,617 190,001

236,060 496,55489,975 353,32759,959 151,13626,928 506,67715,921 63,38224,539 243,78177,218 263,754

196,365 301,317503,425 113,020106,156 92,891142,585 485,02011,053 153,980

107,340 217,996168,299 205,12914,568 541,55231,687 370,57619,391 168,28629,767 242,23411,877 21,111

159,440 248,31824,731 196,41533,570 179,63477,369 317,69625,548 203,2631,549 188,011

14,855 383,18235,370 247,36645,214 118,15613,340 161,89161,198 219,282

193,146 308,25569,091 29,74260,347 438,278

137,800 172,75410,284 194,70044,591 666,0327,327 20,266

15,957 216,811



94

Godrej Industries Ltd.Godrej Properties Ltd.(a)

Graphite India Ltd.Great Eastern Shipping Co. Ltd. (The)GRUH Finance Ltd.Gujarat Fluorochemicals Ltd.Gujarat Gas Ltd.Gujarat Mineral Development Corp. Ltd.Gujarat Narmada Valley Fertilizers & Chemicals Ltd.Gujarat Pipavav Port Ltd.Gujarat State Petronet Ltd.HEG Ltd.Hexaware Technologies Ltd.

35,039 309,82524,843 269,12921,929 288,70947,190 229,92740,055 421,31017,406 202,24620,317 260,74275,417 129,80722,772 161,082

123,038 210,49582,653 219,6694,077 213,944

50,505 328,630

Mphasis Ltd.Muthoot Finance Ltd.Natco Pharma Ltd.National Aluminium Co. Ltd.NBCC India Ltd.NCC Ltd./IndiaNIIT Technologies Ltd.Oberoi Realty Ltd.Page Industries Ltd.PC Jeweller Ltd.Persistent Systems Ltd.Pfizer Ltd./IndiaPhoenix Mills Ltd. (The)

33,920 553,46743,201 249,44639,669 474,858

215,181 224,643246,601 336,561221,829 394,30113,299 220,15154,130 406,6422,562 957,554

71,983 176,85719,698 230,0305,483 202,400

27,684 285,322




May 31, 2018


PI Industries Ltd.

Power Finance Corp. Ltd.

Prestige Estates Projects Ltd.

PVR Ltd.

Quess Corp. Ltd.(a)(b)

Radico Khaitan Ltd.

Rain Industries Ltd.

Rajesh Exports Ltd.Ramco Cements Ltd. (The)Raymond Ltd.RBL Bank Ltd.(b)

Redington India Ltd.Reliance Capital Ltd.Reliance Communications Ltd.(a)

Reliance Infrastructure Ltd.Reliance Power Ltd.(a)

Repco Home Finance Ltd.Sadbhav Engineering Ltd.Sanofi India Ltd.Shankara Building Products Ltd.Sintex Plastics Technology Ltd., Class L(a)

Sobha Ltd.Solara Active Pharma Sciences Ltd.(a)

Somany Ceramics Ltd.SpiceJet Ltd.(a)

SRF Ltd.Sterlite Technologies Ltd.Strides Shasun Ltd.Sun Pharma Advanced Research Co. Ltd.(a)

Sundaram Finance Ltd.Sundram Fasteners Ltd.Supreme Industries Ltd.Suzlon Energy Ltd.(a)

Symphony Ltd.Syngene International Ltd.(b)

Tata Communications Ltd.Tata Elxsi Ltd.Tata Global Beverages Ltd.TeamLease Service Ltd.Thermax Ltd.Thomas Cook India Ltd.TI Financial Holdings Ltd.Time Technoplast Ltd.Torrent Power Ltd.TTK Prestige Ltd.Tube Investments of India Ltd.TV18 Broadcast Ltd.(a)


India (continued)

24,817$

311,470

345,842

412,812

49,096

180,429

10,802

211,766

12,393

215,501

26,181

178,620

38,068

132,229

38,640

345,76033,073 379,11515,064 219,07652,793 403,600

151,023 266,54144,480 275,254

426,134 117,77059,637 384,206

291,622 157,30122,632 198,00654,751 279,7892,940 217,8735,469 143,309

269,543 202,70923,745 179,4534,036 7,704

10,253 80,16167,855 119,9088,003 229,147

53,575 262,18928,396 169,07442,955 259,45214,044 386,88228,305 265,77920,086 387,507

2,011,310 260,79310,932 247,57329,424 261,46230,284 277,04711,363 208,308

145,444 580,2033,897 157,254

18,435 303,34153,262 220,00937,591 373,97456,491 125,40157,622 223,9732,240 196,516

36,903 118,640275,394 228,330

Ace Hardware Indonesia Tbk PT

Alam Sutera Realty Tbk PT

Aneka Tambang Persero Tbk PTBank Pembangunan Daerah Jawa Barat Dan BantenTbk PT

Bukit Asam Tbk PT

Bumi Resources Tbk PT(a)

Ciputra Development Tbk PT

Delta Dunia Makmur Tbk PT(a)

Global Mediacom Tbk PTHanson International Tbk PT(a)

Harum Energy Tbk PT(a)

Indika Energy Tbk PTIndo Tambangraya Megah Tbk PTIndofarma Persero Tbk PT(a)

Inti Agri Resources Tbk PT(a)

Japfa Comfeed Indonesia Tbk PTKawasan Industri Jababeka Tbk PTKrakatau Steel Persero Tbk PT(a)

Kresna Graha Investama Tbk PT(a)

Link Net Tbk PTLippo Karawaci Tbk PTMedco Energi Internasional Tbk PT(a)

Media Nusantara Citra Tbk PTMitra Adiperkasa Tbk PTPanin Financial Tbk PT(a)

Pelat Timah Nusantara Tbk PT(a)

Perusahaan Perkebunan London Sumatra IndonesiaTbk PTPP Persero Tbk PTPP Properti Tbk PTRamayana Lestari Sentosa Tbk PTSawit Sumbermas Sarana Tbk PTSiloam International Hospitals Tbk PT(a)

Sitara Propertindo Tbk PT(a)

Sri Rejeki Isman Tbk PTSugih Energy Tbk PT(a)

Summarecon Agung Tbk PTTimah Tbk PTTotalindo Eka Persada Tbk PT(a)

Trada Alam Minera Tbk PT(a)

Tunas Baru Lampung Tbk PTVisi Media Asia Tbk PT(a)

Waskita Beton Precast Tbk PTWijaya Karya Persero Tbk PT


Indonesia — 2.6%

3,561,300$

320,376

5,677,900

144,655

3,698,400

230,235

1,022,600

150,869

1,590,400

434,942

23,914,400

454,365

5,445,263

395,805

2,080,400

131,0084,862,200 181,961

33,374,000 333,860387,500 90,077770,200 207,308150,100 278,973152,100 41,706

13,302,600 229,7682,101,500 235,1808,943,198 140,3111,824,800 56,7346,039,900 321,664

491,000 164,3157,362,800 200,2983,539,966 285,3373,394,800 293,182

384,200 232,9537,952,600 127,058

247,400 85,464

1,413,300 116,9701,322,925 245,638

18,510,869 226,4731,805,000 177,3171,626,700 139,900

328,625 164,9634,902,600 312,2564,140,400 102,5045,450,300 19,6124,294,100 304,4041,656,796 112,083

40,200 11,05211,765,700 311,6071,374,200 111,7564,073,500 70,3598,272,900 239,3461,422,348 170,948

8,605,592Malaysia — 3.1%



95

Union Bank of India(a)

VA Tech Wabag Ltd.Varun Beverages Ltd.V-Guard Industries Ltd.V-Mart Retail Ltd.Voltas Ltd.VRL Logistics Ltd.(a)

WABCO India Ltd.Welspun India Ltd.Whirlpool of India Ltd.Wockhardt Ltd.(a)

105,452 141,73322,442 148,30520,363 230,31249,432 161,7394,271 152,078

50,236 401,95524,571 135,1943,107 343,541

126,932 117,93616,135 368,46419,307 195,552

50,744,500

AEON Credit Service M BhdAirAsia X Bhd(a)(c)

Berjaya Sports Toto BhdBermaz Auto BhdBumi Armada Bhd(a)(c)

Bursa Malaysia BhdCahya Mata Sarawak Bhd(c)

Carlsberg Brewery Malaysia BhdDRB-Hicom Bhd(c)

Eastern & Oriental BhdEco World Development Group Bhd(a)

Globetronics Technology BHDHengyuan Refining Co. Bhd

53,000 197,0851,083,400 97,996

263,800 164,378527,600 291,638

1,426,400 275,962286,350 543,921310,900 181,22879,700 397,699

309,700 136,175538,681 197,607524,300 179,158288,483 173,96046,300 76,081




May 31, 2018


IGB REIT(c)

Inari Amertron Bhd

Kossan Rubber Industries(c)

KPJ Healthcare Bhd

Lafarge Malaysia Bhd(a)

Magnum Bhd

Mah Sing Group Bhd

Malaysia Building Society BhdMalaysian Pacific Industries BhdMalaysian Resources Corp. Bhd(c)

OSK Holdings BhdPadini Holdings Bhd(c)

Pos Malaysia Bhd(c)

QL Resources Bhd(c)

Sapura Energy BhdScientex BHDSerba Dinamik Holdings Bhd(c)

SKP Resources BhdSunway Bhd(c)

Sunway Construction Group Bhd(c)

Sunway REIT(c)

Supermax Corp. BhdTIME dotCom BhdUnisem M BhdVelesto Energy Bhd(a)

VS Industry BhdWCT Holdings Bhd(a)

Yinson Holdings BHD(c)

Axtel SAB de CV, CPO(a)(c)

Banco del Bajio SA(b)

Bolsa Mexicana de Valores SAB de CVConcentradora Fibra Danhos SA de CVConcentradora Fibra Hotelera Mexicana SA de CV(b)

Consorcio ARA SAB de CVControladora Vuela Cia. de Aviacion SAB de CV,Class A(a)(c)

Corp Inmobiliaria Vesta SAB de CVCredito Real SAB de CV SOFOM ERGenomma Lab Internacional SAB de CV, Class B(a)(c)

Gentera SAB de CVGrupo Aeromexico SAB de CV(a)

Grupo Aeroportuario del Centro Norte SAB de CVGrupo Cementos de Chihuahua SAB de CVGrupo Comercial Chedraui SA de CV



1,158,800$

494,965

1,109,450

638,352

149,300

286,971

1,611,600

400,875

128,000

96,482

368,900

202,988

506,257

139,920

661,000

194,314100 251

1,081,700 160,3521,036,480 239,588

189,300 273,011168,200 150,873394,730 524,654

1,740,700 240,549173,400 307,589368,000 305,126542,900 204,611908,835 333,392392,420 171,560917,000 393,987259,400 200,090213,900 403,078302,700 181,772

1,779,700 120,733589,625 271,109

15 3325,100 356,956

10,207,039Mexico — 2.6%

25,026 5,165360,100 680,167193,400 314,177169,900 258,512347,500 197,431461,700 148,575

284,000 146,169259,500 325,082110,800 134,705331,000 279,522532,700 401,141134,600 163,774150,900 719,19682,200 431,365

158,000 311,225

Unifin Financiera SAB de CV SOFOM ENRUrbi Desarrollos Urbanos SAB de CV(a)

Bank Alfalah Ltd.

DG Khan Cement Co. Ltd.

Engro Corp. Ltd./Pakistan

Engro Fertilizers Ltd.Fauji Cement Co. Ltd.Fauji Fertilizer Co. Ltd.Honda Atlas Cars Pakistan Ltd.Hub Power Co. Ltd. (The)Indus Motor Co. Ltd.International Steels Ltd.Kot Addu Power Co. Ltd.Maple Leaf Cement Factory Ltd.Millat Tractors Ltd.National Bank of PakistanNishat Mills Ltd.Packages Ltd.Pakistan Oilfields Ltd.Pakistan State Oil Co. Ltd.Searle Co. Ltd. (The)SUI Northern Gas PipelineThal Ltd.

Bloomberry Resorts Corp.Cebu Air Inc.Cosco Capital Inc.D&L Industries Inc.DoubleDragon Properties Corp.(a)

Filinvest Land Inc.First Gen Corp.First Philippine Holdings Corp.Manila Water Co. Inc.Megawide Construction Corp.Melco Resorts And Entertainment (Philippines) Corp.(a)

Petron Corp.Premium Leisure Corp.Vista Land & Lifescapes Inc.

Asseco Poland SABoryszew SA(a)

Budimex SACiech SA(a)

Enea SA


Mexico (continued)

75,900$

214,816 1 —

8,814,538Pakistan — 0.8%

242,000

110,359

101,373

110,911

111,500

297,037

221,500

142,441260,500 56,592209,500 178,18916,350 56,583

265,400 226,8826,340 86,632

66,500 64,196161,000 81,51391,037 50,73119,170 203,718

156,500 67,07657,564 72,16916,500 71,46341,900 246,03975,298 208,20437,750 106,08697,200 81,65518,000 76,919

2,595,395Philippines — 0.9%

1,701,100 349,70497,610 161,644

2,176,400 254,3631,693,400 355,857

280,910 156,1346,747,000 206,768

560,700 159,878226,550 280,517750,500 404,996419,800 177,396

834,700 90,7221,040,800 175,3314,399,000 84,5712,142,100 283,382

3,141,263Poland — 1.0%

33,939 421,05650,239 111,3484,934 208,042

12,557 210,089125,372 347,677



96

Grupo Financiero Interacciones SA de CV, Series OGrupo Herdez SAB de CV(c)

Hoteles City Express SAB de CV(a)

Industrias Bachoco SAB de CV, Series BIndustrias CH SAB de CV, Series B(a)

La Comer SAB de CV(a)(c)

Macquarie Mexico Real Estate Management SA deCVMinera Frisco SAB de CV, Series A1(a)(c)

PLA Administradora Industrial S. de RL de CVPrologis Property Mexico SA de CVQualitas Controladora SAB de CVRegional SAB de CVTelesites SAB de CV(a)(c)

TV Azteca SAB de CV, CPO(c)

40,000 179,908107,400 211,608244,600 296,88387,500 398,31667,600 293,168

235,300 228,805

333,100 341,3824,577 1,718

364,700 517,735170,000 295,872107,100 273,20398,000 544,200

614,600 433,024515,100 67,694

Energa SAEurocash SAFamur SA(a)

KRUK SANetia SAPKP Cargo SA(a)

Tauron Polska Energia SA(a)

Warsaw Stock Exchange

Gulf International Services QSC(a)

93,352 237,93840,102 256,995

150,628 249,1648,461 531,936

27,690 35,02613,337 158,613

692,133 419,04915,900 156,002

3,342,935Qatar — 0.7%

16,484 76,181




May 31, 2018


Gulf Warehousing Co.

Medicare Group

Qatar First Bank(a)

Qatar Gas Transport Co. Ltd.

Qatar National Cement Co. QSC

Qatar Navigation QSC

United Development Co. QSCVodafone Qatar QSC(a)

Aeroflot PJSCCredit Bank of Moscow PJSC(a)

Detsky Mir PJSC(b)

LSR Group PJSC, GDR, NVS(e)

M.Video PJSC(a)

Mechel PJSC, ADR, NVS(a)

Raspadskaya OAO(a)

Ros Agro PLC, GDR(e)

Safmar Financial InvestmentSistema PJSFC, GDR(e)

Sistema PJSFC, GDR(e)

TMK PJSC, GDR, NVS(e)

Unipro PJSC

Adcock Ingram Holdings Ltd.Advtech Ltd.AECI Ltd.African Rainbow Minerals Ltd.Alexander Forbes Group Holdings Ltd.Arrowhead Properties Ltd., Class AAscendis Health Ltd.Astral Foods Ltd.Attacq Ltd.(a)

AVI Ltd.Barloworld Ltd.Blue Label Telecoms Ltd.Brait SE(a)

Cashbuild Ltd.City Lodge Hotels Ltd.Curro Holdings Ltd.(a)(c)

DataTec Ltd.Delta Property Fund Ltd.Dis-Chem Pharmacies Ltd.(b)

Emira Property Fund Ltd.EOH Holdings Ltd.Equites Property Fund Ltd.


Qatar (continued)

14,065$

163,466

5,833

90,565

119,537

177,055

126,638

509,672

13,022

199,582

20,332

350,696

80,028

317,702 160,612 360,580

2,245,499Russia — 0.9%

255,256 576,6323,924,634 304,891

125,200 190,831114,706 317,73630,120 197,07154,527 188,66392,620 144,88716,930 194,21516,320 194,54914,455 48,82965,168 220,13839,597 213,824

6,412,070 292,582

3,084,848South Africa — 5.2%

31,968 165,052190,329 237,44252,588 448,39951,090 443,170

315,729 157,054465,820 249,36998,742 76,71717,373 370,670

249,963 362,165146,886 1,186,454102,030 1,071,456180,416 168,094157,561 454,209

8,200 252,50719,648 242,12194,882 226,77387,960 151,404

328,658 163,486161,557 366,102229,143 278,62658,517 155,198

166,428 256,377

Murray & Roberts Holdings Ltd.

Nampak Ltd.(a)

Northam Platinum Ltd.(a)

Oceana Group Ltd.

Omnia Holdings Ltd.

PPC Ltd.(a)

Raubex Group Ltd.

Reunert Ltd.SA Corporate Real Estate Ltd.Sibanye Gold Ltd.(a)

Stadio Holdings Ltd.(a)(c)

Sun International Ltd./South Africa(a)(c)

Super Group Ltd./South Africa(a)

Tongaat Hulett Ltd.Trencor Ltd.Tsogo Sun Holdings Ltd.Vukile Property Fund Ltd.Wilson Bayly Holmes-Ovcon Ltd.Zeder Investments Ltd.

Advanced Process Systems Corp.(a)

Ahnlab Inc.(c)

AK Holdings Inc.Amicogen Inc.(a)

Ananti Inc.(a)

Anterogen Co. Ltd., NVSAprogen pharmaceuticals Inc.(a)(c)

APS Holdings Corp.(a)

Asiana Airlines Inc.(a)

ATGen Co. Ltd.(a)

BGF Co. Ltd.BH Co. Ltd.(a)

Binex Co. Ltd.(a)

Binggrae Co. Ltd.Bukwang Pharmaceutical Co. Ltd.Cafe24 Corp.(a)

Caregen Co. Ltd.Chabiotech Co. Ltd.(a)

Chong Kun Dang Pharmaceutical Corp.CJ CGV Co. Ltd.CJ Freshway Corp.CJ O Shopping Co. Ltd.CMG Pharmaceutical Co. Ltd.(a)(c)

Com2uSCorp.Cosmax Inc.



175,058$

251,287

297,016

356,701

159,020

439,832

20,752

137,637

28,530

304,110

691,758

442,965

79,626

142,025

83,403

524,850878,184 321,042869,294 541,55097,284 30,64946,416 249,213

155,564 447,34645,563 291,40279,576 236,937

230,731 419,014268,219 463,16220,895 255,722

454,751 215,796

17,277,347South Korea — 19.3%

12,108 257,7842,601 142,8443,035 226,6507,303 182,245

14,880 149,0831,889 253,397

60,010 219,3421 6

52,501 241,3319,918 163,774

16,886 177,79710,885 279,20615,540 186,6905,648 320,138

14,288 383,7262,850 455,8102,337 187,099

1 183,337 325,0486,252 382,7933,891 124,8931,602 330,967

42,639 203,7124,302 764,2593,342 527,056



97

Famous Brands Ltd.(a)

Grindrod Ltd.(a)

Harmony Gold Mining Co. Ltd.Hosken Consolidated Investments Ltd.Hudaco Industries Ltd.Impala Platinum Holdings Ltd.(a)

Invicta Holdings Ltd.JSE Ltd.KAP Industrial Holdings Ltd.Massmart Holdings Ltd.Metair Investments Ltd.Mpact Ltd.

35,885 311,957194,651 209,021186,642 311,68423,047 258,25714,028 175,159

330,283 528,34927,043 93,52436,721 526,272

842,516 548,81649,000 456,57289,178 140,89682,650 162,755

CrystalGenomics Inc.(a)(c)

Dae Hwa Pharmaceutical Co. Ltd.Daeduck GDS Co. Ltd.Daesang Corp.Daewoong Co. Ltd.Daewoong Pharmaceutical Co. Ltd.Daishin Securities Co. Ltd.Daou Technology Inc.DB HiTek Co. Ltd.Dentium Co. Ltd.DIO Corp.(a)

Dong-A Socio Holdings Co. Ltd.Dong-A ST Co. Ltd.Dongjin Semichem Co. Ltd.

9,799 214,0796,491 147,5308,812 123,030

12,587 296,00711,979 225,0332,294 444,776

23,656 298,45712,713 306,04616,681 263,0713,052 248,3055,016 176,1272,264 236,2822,941 264,648

14,630 215,117




May 31, 2018


DongKook Pharmaceutical Co. Ltd.

Dongkuk Steel Mill Co. Ltd.

Dongwon F&B Co. Ltd.

Dongwon Industries Co. Ltd.

Doosan Infracore Co. Ltd.(a)(c)

DoubleUGames Co. Ltd.

Douzone Bizon Co. Ltd.

Duk San Neolux Co. Ltd.(a)(c)

Easy Bio Inc.Ecopro Co. Ltd.(a)

Enzychem Lifesciences Corp., NVSEo Technics Co Ltd.Esmo Corp., NVSEugene Corp.F&F Co. Ltd.Fila Korea Ltd.Foosung Co. Ltd.(a)

Gamevil Inc.(a)

GemVax & Kael Co. Ltd.(a)

Genexine Co. Ltd.(a)

Grand Korea Leisure Co. Ltd.Green Cross Cell Corp.Green Cross Corp./South KoreaGreen Cross Holdings Corp.GS Home Shopping Inc.G-treeBNT Co. Ltd.(a)

Halla Holdings Corp.Hana Tour Service Inc.(c)

Hanall Biopharma Co. Ltd.(a)

Handsome Co. Ltd.Hanil Cement Co. Ltd.Hanjin Heavy Industries & Construction Co. Ltd.(a)(c)

Hanjin Kal Corp.Hanjin Transportation Co. Ltd.Hankook Tire Worldwide Co. Ltd.(c)

Hansae Co. Ltd.Hansol Chemical Co. Ltd.Hansol Technics Co. Ltd.(a)

Hanwha Aerospace Co. Ltd.(a)

Hanwha General Insurance Co. Ltd.Hanwha Investment & Securities Co. Ltd.(a)

Hite Jinro Co. Ltd.Homecast Co. Ltd.(a)

HS Industries Co. Ltd.Huchems Fine Chemical Corp.Hugel Inc.(a)



4,463$

263,321

33,325

312,243

728

155,670

753

233,315

60,134

580,169

4,375

226,066

9,487

385,482

5,126

76,79824,719 213,4928,127 283,8553,303 252,1794,029 282,566

20,953 196,32221,478 205,2263,237 191,887

23,430 633,59623,850 205,5442,441 142,889

14,439 189,5376,292 665,419

15,274 388,2444,332 205,3582,846 580,843

14,663 516,2211,782 279,7119,796 375,3195,094 211,9455,125 489,703

13,796 410,8287,069 257,3941,370 216,694

37,093 113,72722,226 478,3555,945 135,120

15,564 259,1718,286 118,3774,192 299,442

20,556 209,76517,434 536,14530,374 200,06167,926 187,46713,741 256,85913,092 101,29224,150 208,35410,869 305,0121,040 465,513

InBody Co. Ltd.

Innocean Worldwide Inc.

Innox Advanced Materials Co. Ltd.(a)

Inscobee Inc.(a)

Interflex Co. Ltd.(a)(c)

iNtRON Biotechnology Inc.(a)

IS Dongseo Co. Ltd.

It's Hanbul Co. Ltd.Jayjun Cosmetic Co. Ltd.(a)(c)

JB Financial Group Co. Ltd.Jeil Holdings Co. Ltd.Jeil Pharmaceutical Co. Ltd.Jeju Air Co. Ltd.Jenax Inc.(a)

Jin Air Co. Ltd.Jusung Engineering Co. Ltd.JW Holdings Corp.JW Pharmaceutical Corp.JYP Entertainment Corp.(a)

Kakao M Corp.KC Co. Ltd.KEPCO Engineering & Construction Co. Inc.Kginicis Co. Ltd.KIWOOM Securities Co. Ltd.(c)

Koh Young Technology Inc.Kolmar BNH Co. Ltd.Kolon Corp.(c)

Kolon Industries Inc.Kolon Life Science Inc.(a)

Komipharm International Co. Ltd.(a)

Korea Kolmar Co. Ltd.Korea Kolmar Holdings Co. Ltd.(c)

Korea Line Corp.(a)

Korea Petrochemical Ind. Co Ltd.Korea REIT Co. Ltd.Korean Reinsurance Co.KT Skylife Co. Ltd.Kumho Tire Co. Inc.(a)(c)

Kyung Dong Navien Co. Ltd.L&F Co. Ltd.LEENO Industrial Inc.(c)

LegoChem Biosciences Inc., NVSLF Corp.LG Hausys Ltd.LG International Corp.LIG Nex1 Co. Ltd.Lock&Lock Co. Ltd.



5,757$

176,777

4,758

289,995

2,772

190,037

37,319

353,127

4,759

87,414

6,773

261,382

10,017

273,668

3,997

198,7478,423 195,348

52,129 293,05820,769 289,0073,003 112,8274,230 200,1307,450 95,7216,236 174,709

21,451 199,99315,364 120,0107,080 266,005

13,532 311,3263,571 274,9604,691 96,1745,920 171,3479,666 193,6885,529 643,7125,601 493,0985,464 138,6343,825 166,7757,564 464,5273,561 229,593

18,849 514,0876,275 448,8174,532 209,7935,836 136,4321,413 330,982

101,547 275,07542,791 504,14723,010 274,29745,331 256,1032,806 136,1425,733 259,8055,869 340,2874,364 189,466

10,557 282,5454,603 304,461

18,698 457,0645,448 257,756

10,497 231,763



98

Huons Co. Ltd.Huons Global Co. Ltd.(c)

Hyundai Construction Equipment Co. Ltd.(a)

Hyundai Electric & Energy System Co. Ltd.(a)

Hyundai Elevator Co. Ltd.(c)

Hyundai Greenfood Co. Ltd.Hyundai Home Shopping Network Corp.Hyundai Livart Furniture Co. Ltd.Hyundai Merchant Marine Co. Ltd.(a)(c)

Hyundai Mipo Dockyard Co. Ltd.(a)

Hyundai Rotem Co. Ltd.(a)

Hyundai Wia Corp.Iljin Materials Co. Ltd.(c)

Ilyang Pharmaceutical Co. Ltd.(a)

2,765 248,0413,050 179,3872,682 415,5052,783 237,0056,470 801,285

26,363 365,6263,577 353,4036,448 135,785

113,868 624,2965,350 465,045

13,431 481,5708,062 377,690

10,486 337,0669,112 343,195

Lotte Chilsung Beverage Co. Ltd.LOTTE Fine Chemical Co. Ltd.Lotte Food Co. Ltd.LOTTE Himart Co. Ltd.LS Corp.LS Industrial Systems Co. Ltd.Lutronic Corp.Maeil Dairies Co. Ltd.Mando Corp.Medipost Co. Ltd.(a)

MeereCo. Inc.Meritz Financial Group Inc.Meritz Fire & Marine Insurance Co. Ltd.

191 280,4898,135 517,706

331 216,7874,040 294,9567,994 634,0627,092 507,911

10,402 155,3622,078 168,291

15,228 543,1763,660 348,3611,559 199,295

23,040 304,57825,733 489,379




May 31, 2018


Meritz Securities Co. Ltd.

Mezzion Pharma Co. Ltd., NVS

Mirae Asset Life Insurance Co. Ltd.

Modetour Network Inc.

Muhak Co. Ltd.

Namhae Chemical Corp.

Nanomedics Co. Ltd., NVS

Naturalendo Tech Co. Ltd.(a)

Naturecell Co. Ltd.(a)

Nexen Tire Corp.NHN Entertainment Corp.(a)

NICE Holdings Co. Ltd.NICE Information Service Co. Ltd.NongShim Co. Ltd.NUTRIBIOTECH Co. Ltd.(a)

Orion Holdings Corp.(c)

Oscotec Inc., NVSOsstem Implant Co. Ltd.(a)

Paradise Co. Ltd.(c)

Partron Co. Ltd.(c)

Peptron Inc.(a)(c)

Pharmicell Co. Ltd.(a)

Poongsan Corp.POSCO Chemtech Co. Ltd.Posco ICT Co. Ltd.PSK Inc.S&T Motiv Co. Ltd.Sam Chun Dang Pharm Co. Ltd.Samjin Pharmaceutical Co. Ltd.Samwha Capacitor Co. Ltd.Samyang Corp.(c)

Samyang Foods Co. Ltd.Samyang Holdings Corp.Sangsangin Co. Ltd.(a)

Seah Besteel Corp.SeAH Steel Corp.Seegene Inc.(a)

Seoul Semiconductor Co. Ltd.SFA Engineering Corp.Shinsegae International Inc.Silicon Works Co. Ltd.SK Chemicals Co. Ltd.(a)

SK Discovery Co. Ltd.SK Gas Ltd.SK Materials Co. Ltd.SK Networks Co. Ltd.



162,682$

616,500

3,679

189,078

40,178

218,045

7,243

226,102

16,508

253,451

11,252

195,197

9,234

145,198

7,630

110,77518,524 506,94223,718 247,5325,553 341,5419,827 180,048

18,689 211,5181,358 410,6944,961 109,534

10,348 229,91311,223 298,8084,993 232,987

21,337 384,00518,208 129,3872,908 156,737

25,040 456,45510,802 360,2509,533 395,311

39,226 256,5467,682 212,3696,194 177,8426,415 267,8005,500 244,1443,732 246,8502,602 206,3831,560 146,1661,908 202,668

14,838 302,14210,260 222,7232,016 168,1327,800 228,656

18,983 360,1309,854 332,7481,189 187,5134,995 180,2553,973 327,6595,543 202,8582,053 190,4542,581 399,619

81,483 375,308

TES Co. Ltd./Korea

Theragen Etex Co. Ltd., NVS

Tokai Carbon Korea Co. Ltd.

Tongyang Inc.

Tongyang Life Insurance Co. Ltd.

Toptec Co. Ltd.(a)

Vieworks Co. Ltd.(c)

Webzen Inc.(a)

WeMade Entertainment Co. Ltd.WONIK IPS Co. Ltd.Young Poong Corp.Youngone Corp.Yuanta Securities Korea Co. Ltd.(a)

Yungjin Pharmaceutical Co. Ltd.(a)

Yuyang DNU Co. Ltd.(a)

AcBel Polytech Inc.Accton Technology Corp.A-DATA Technology Co. Ltd.Advanced Ceramic X Corp.Advanced Wireless Semiconductor Co.AmTRAN Technology Co. Ltd.Ardentec Corp.Asia Optical Co. Inc.Asia Pacific Telecom Co. Ltd.(a)

Asia Polymer Corp.Asia Vital Components Co. Ltd.ASMedia Technology Inc.ASPEED Technology Inc.BES Engineering Corp.Bizlink Holding Inc.Capital Securities Corp.Career Technology MFG. Co. Ltd.Casetek Holdings Ltd.Cathay Real Estate Development Co. Ltd.Center Laboratories Inc.(a)

Charoen Pokphand EnterpriseCheng Loong Corp.Cheng Uei Precision Industry Co. Ltd.Chilisin Electronics Corp.China Bills Finance Corp.China General Plastics Corp.China Man-Made Fiber Corp.(a)

China Motor Corp.China Petrochemical Development Corp.(a)

China Steel Chemical Corp.



8,261$

231,058

13,296

187,485

2,313

148,056

98,720

196,900

25,504

168,457

9,979

249,487

3,782

111,395

7,487

191,3514,310 213,911

12,973 410,389293 219,081

12,017 355,06457,786 233,19241,777 317,41121,926 190,590

64,702,011Taiwan — 19.2%

513,000 333,878209,000 601,99692,000 207,57318,000 161,30769,000 151,995

388,312 166,541191,000 220,888104,000 328,715

1,095,000 293,837760,869 462,187179,000 172,36016,000 200,25710,000 300,719

789,000 212,51446,770 329,372

678,000 256,840167,000 370,10274,816 187,780

302,300 180,604100,000 229,96275,000 146,438

373,000 222,220195,000 230,72182,000 437,895

337,000 158,594147,000 146,453590,700 205,039206,000 200,077

1,082,000 498,36077,000 399,630



99

SK Securities Co. Ltd.(a)

SKC Co. Ltd.SKCKOLONPI Inc.SM Entertainment Co. Ltd.(a)

Songwon Industrial Co. Ltd.Soulbrain Co. Ltd.(c)

SPC Samlip Co. Ltd.Ssangyong Cement Industrial Co. Ltd.Sungwoo Hitech Co. Ltd.Taekwang Industrial Co. Ltd.Taewoong Co. Ltd.(a)

Taeyoung Engineering & Construction Co. Ltd.Taihan Fiberoptics Co. Ltd.(a)

Telcon RF Pharmaceutical Inc.(a)

197,800 212,85610,650 381,8577,353 302,8658,872 341,9757,156 179,5724,306 279,6231,078 110,505

11,870 371,64325,203 118,773

222 255,7855,056 87,241

16,358 260,25325,861 170,57528,832 316,953

China Synthetic Rubber Corp.Chin-Poon Industrial Co. Ltd.Chipbond Technology Corp.Chlitina Holding Ltd.Chong Hong Construction Co. Ltd.Chroma ATE Inc.Chung Hung Steel Corp.(a)

Chunghwa Precision Test Tech Co. Ltd.Cleanaway Co. Ltd.Clevo Co.CMC Magnetics Corp.(a)

Compeq Manufacturing Co. Ltd.Concraft Holding Co. Ltd.

232,233 373,213169,000 223,931279,000 586,65320,000 181,90081,424 254,369

168,000 838,276514,000 196,429

8,000 215,47740,000 256,996

259,000 280,512766,000 255,661439,000 492,31215,528 153,406




May 31, 2018


Coretronic Corp.

CSBC Corp. Taiwan(a)

CTCI Corp.

Cub Elecparts Inc.

Darwin Precisions Corp.

E Ink Holdings Inc.

Egis Technology Inc.(a)

Elan Microelectronics Corp.Elite Advanced Laser Corp.Elite Material Co. Ltd.Elite Semiconductor Memory Technology Inc.eMemory Technology Inc.Ennoconn Corp.Epistar Corp.(a)

Eternal Materials Co. Ltd.Everlight Electronics Co. Ltd.Far Eastern Department Stores Ltd.Far Eastern International BankFaraday Technology Corp.Farglory Land Development Co. Ltd.Feng Hsin Steel Co. Ltd.Firich Enterprises Co. Ltd.FLEXium Interconnect Inc.Foxsemicon Integrated Technology Inc.Genius Electronic Optical Co. Ltd.(a)

Getac Technology Corp.Gigabyte Technology Co. Ltd.Ginko International Co. Ltd.Gintech Energy Corp.(a)

Global Unichip Corp.Gloria Material Technology Corp.Goldsun Building Materials Co. Ltd.(a)

Gourmet Master Co. Ltd.Grand Pacific PetrochemicalGrape King Bio Ltd.Great Wall Enterprise Co. Ltd.Greatek Electronics Inc.HannStar Display Corp.Ho Tung Chemical Corp.(a)

Holtek Semiconductor Inc.Holy Stone Enterprise Co. Ltd.Hota Industrial Manufacturing Co. Ltd.Hu Lane Associate Inc.Huaku Development Co. Ltd.Huang Hsiang Construction Corp.Hung Sheng Construction Ltd.International Games System Co. Ltd.


Taiwan (continued)

185,400$

256,181

198,420

120,529

301,000

493,772

22,600

269,286

172,000

152,129

387,000

442,393

27,000

143,734

219,000

354,50557,840 205,596

120,000 321,212138,000 192,52734,000 411,92923,000 374,230

442,000 598,942555,532 545,121208,000 280,467500,000 330,424995,360 333,874106,000 224,301150,000 167,966258,000 506,330134,267 228,099137,418 398,10726,000 183,10230,000 448,576

206,000 297,709229,000 604,57322,000 197,520

258,647 130,78540,000 340,437

330,850 211,464623,000 197,74536,070 374,406

350,000 374,98154,000 416,334

245,128 317,031184,000 333,468

1,163,320 362,257639,342 186,28886,000 212,40662,050 432,83796,192 465,52545,000 217,029

128,080 303,51275,000 70,090

260,000 341,90527,000 172,121

Lien Hwa Industrial Corp.

Long Chen Paper Co. Ltd.

Lotes Co. Ltd.

Lung Yen Life Service Corp.

Machvision Inc.

Makalot Industrial Co. Ltd.

Masterlink Securities Corp.

Mercuries & Associates Holding Ltd.Mercuries Life Insurance Co. Ltd.(a)

Merida Industry Co. Ltd.Merry Electronics Co. Ltd.Microbio Co. Ltd.(a)

Mitac Holdings Corp.momo.com Inc.Motech Industries Inc.(a)

Nan Kang Rubber Tire Co. Ltd.Neo Solar Power Corp.(a)

OBI Pharma Inc.(a)

On-Bright Electronics Inc.Oriental Union Chemical Corp.Pan Jit International Inc.Pan-International Industrial Corp.Parade Technologies Ltd.PChome Online Inc.PharmaEngine Inc.PharmaEssentia Corp.(a)

Pharmally International Holding Co. Ltd.Pixart Imaging Inc.Poya International Co. Ltd.President Securities Corp.(a)

Primax Electronics Ltd.Prince Housing & Development Corp.Qisda Corp.Radiant Opto-Electronics Corp.Radium Life Tech Co. Ltd.(a)

Ritek Corp.(a)

Roo Hsing Co. Ltd.(a)

Run Long Construction Co. Ltd.Sanyang Motor Co. Ltd.ScinoPharm Taiwan Ltd.SDI Corp.Senao International Co. Ltd.Sercomm Corp.Shin Zu Shing Co. Ltd.Shining Building Business Co. Ltd.(a)

Shinkong Synthetic Fibers Corp.Sigurd Microelectronics Corp.


Taiwan (continued)

291,904$

373,143

253,751

281,602

28,000

177,561

77,000

162,936

15,000

232,799

80,559

364,326

464,121

168,847

222,330

180,319288,000 158,12393,000 397,31080,000 391,169

347,727 236,758385,379 423,17520,000 151,528

212,344 140,327440,000 385,495674,364 261,08950,000 270,34716,000 152,729

235,000 256,087141,000 285,186183,722 143,18132,000 532,95139,305 190,21855,756 248,43363,000 374,28017,851 229,68059,635 214,96223,453 248,921

524,741 255,702179,000 348,304609,917 234,102810,000 573,136189,000 396,148419,707 149,187928,260 477,119439,000 221,24768,000 140,714

410,820 297,542187,708 214,26259,000 156,94589,000 152,683

127,000 293,32361,000 178,145

297,858 119,296773,135 281,267206,000 257,143



100

ITEQ Corp.Jih Sun Financial Holdings Co. Ltd.Kenda Rubber Industrial Co. Ltd.Kerry TJ Logistics Co. Ltd.Kindom Construction Corp.King Slide Works Co. Ltd.King Yuan Electronics Co. Ltd.King's Town Bank Co. Ltd.Kinpo ElectronicsKinsus Interconnect Technology Corp.LandMark Optoelectronics Corp.LCY Chemical Corp.Lealea Enterprise Co. Ltd.(a)

103,600 221,989669,690 202,506342,341 385,057160,000 208,534209,000 147,53426,000 380,088

555,000 520,518388,000 453,248

1,093,000 362,613114,000 218,78132,400 324,416

279,000 427,884590 223

Silergy Corp.Simplo Technology Co. Ltd.Sinbon Electronics Co. Ltd.Sino-American Silicon Products Inc.Sinyi Realty Inc.Sitronix Technology Corp.Soft-World International Corp.Sporton International Inc.St. Shine Optical Co. Ltd.Sunny Friend Environmental Technology Co. Ltd.Supreme Electronics Co. Ltd.TA Chen Stainless PipeTaichung Commercial Bank Co. Ltd.

29,000 663,98575,600 474,36998,000 264,286

229,000 1,077,683135,588 188,25775,000 228,29356,140 162,45334,000 171,35322,000 587,42030,000 200,257

161,000 178,671351,010 380,749

1,520,014 522,542




May 31, 2018


Tainan Spinning Co. Ltd.

Taiwan Cogeneration Corp.

Taiwan Fertilizer Co. Ltd.

Taiwan Glass Industry Corp.(a)

Taiwan Hon Chuan Enterprise Co. Ltd.

Taiwan Paiho Ltd.

Taiwan Secom Co. Ltd.

Taiwan Semiconductor Co. Ltd.Taiwan Shin Kong Security Co. Ltd.Taiwan Styrene MonomerTaiwan TEA Corp.Taiwan Union Technology Corp.Tatung Co. Ltd.(a)

TCI Co. Ltd.Test Research Inc.Ton Yi Industrial Corp.Tong Hsing Electronic Industries Ltd.Tong Yang Industry Co. Ltd.Topco Scientific Co. Ltd.TPK Holding Co. Ltd.(a)

Transcend Information Inc.Tripod Technology Corp.TSRC Corp.TTY Biopharm Co. Ltd.Tung Ho Steel Enterprise Corp.TXC Corp.U-Ming Marine Transport Corp.Unimicron Technology Corp.Unitech Printed Circuit Board Corp.(a)

United Integrated Services Co. Ltd.UPC Technology Corp.USI Corp.Visual Photonics Epitaxy Co. Ltd.Voltronic Power Technology Corp.Wafer Works Corp.(a)

Wah Lee Industrial Corp.Walsin Lihwa Corp.Waterland Financial Holdings Co. Ltd.Win Semiconductors Corp.Wistron NeWeb Corp.Wowprime Corp.WT Microelectronics Co. Ltd.XinTec Inc.(a)

Xxentria Technology Materials Corp.Yang Ming Marine Transport Corp.(a)

Yeong Guan Energy Technology Group Co. Ltd.YFY Inc.(a)


Taiwan (continued)

556,190$

282,165

187,000

175,382

440,000

634,414

483,000

294,203

153,004

262,484

102,050

241,147

151,450

457,461

93,000

264,770319,640 409,132266,000 216,181627,000 324,36689,000 281,007

891,000 670,59632,000 419,73969,000 148,080

709,000 304,07966,000 258,832

167,133 282,26076,000 207,239

150,000 321,91371,000 203,558

197,000 557,569278,000 292,27597,450 315,493

421,000 337,935230,000 287,486206,000 236,173606,000 339,796246,000 195,00092,000 197,133

397,202 271,770474,089 234,97688,425 318,73925,077 397,144

211,000 492,262157,000 296,587

1,195,000 999,1071,015,097 354,046

1 8152,923 365,44528,000 97,659

206,757 313,98475,000 177,47867,000 180,685

476,820 151,02852,601 117,275

668,000 290,953

Beauty Community PCL, NVDR

CH Karnchang PCL, NVDR(c)

Chularat Hospital PCL, NVDR(c)

Eastern Polymer Group PCL, NVDR(c)

Esso Thailand PCL, NVDR

GFPT PCL, NVDR(c)

Group Lease PCL, NVDR

Gunkul Engineering PCL, NVDR(c)

Hana Microelectronics PCL, NVDRItalian-Thai Development PCL, NVDR(a)(c)

Jasmine International PCL, NVDR(c)

KCE Electronics PCL, NVDRKhon Kaen Sugar Industry PCL, NVDR(c)

Kiatnakin Bank PCL, NVDRLPN Development PCL, NVDR(c)

Major Cineplex Group PCL, NVDR(c)

Muangthai Capital PCL, NVDRPTG Energy PCL, NVDR(c)

Quality Houses PCL, NVDRSamart Corp. PCL, NVDRSiam Global House PCL, NVDR(c)

Siamgas & Petrochemicals PCLSino-Thai Engineering & Construction PCL, NVDR(a)

Sri Trang Agro-Industry PCL, NVDR(c)

Srisawad Corp PCL, NVDR(c)

Supalai PCL, NVDR(a)(c)

Super Energy Corp. PCL, NVDR(a)

Taokaenoi Food & Marketing PCL, NVDRThai Airways International PCL, NVDR(a)(c)

Thai Vegetable Oil PCL, NVDRThaicom PCL, NVDR(c)

Thanachart Capital PCL, NVDRTisco Financial Group PCL, NVDRTTW PCL, NVDRU City PCL, NVDR(a)

VGI Global Media PCL, NVDR(c)

Vibhavadi Medical Center PCL, NVDRWHA Corp. PCL, NVDR(c)

Workpoint Entertainment PCL, NVDR(c)

AG Anadolu Grubu Holding ASAkcansa Cimento ASAygaz ASBesiktas Futbol Yatirimlari Sanayi ve Ticaret AS(a)

Cimsa Cimento Sanayi VE Ticaret AS(c)



1,019,300$

557,604

379,300

317,170

3,183,200

230,854

662,400

153,228

572,100

262,891

419,300

157,287

35,800

7,106

1,846,583

188,179283,200 303,207

2,065,100 228,5231,873,500 339,678

290,000 294,6231,075,130 110,907

247,332 531,543575,300 174,442339,200 286,290288,100 281,436398,200 235,260

3,824,767 389,770146,100 34,710870,428 451,676484,500 150,696385,028 272,011406,980 159,026276,843 305,055473,000 373,343

6,737,100 311,688266,100 165,533456,200 223,893247,500 239,841294,400 86,047375,100 603,865186,040 482,692

1,054,500 408,74785,044,600 79,7541,362,200 330,0115,237,100 422,3734,059,200 558,315

105,200 141,407

12,619,921Turkey — 1.1%

61,056 302,76016,559 33,575

137,178 366,11429,369 14,56318,004 44,440



101

Yieh Phui Enterprise Co. Ltd.Yulon Finance Corp.Yulon Motor Co. Ltd.YungShin Global Holding Corp.Yungtay Engineering Co. Ltd.Zinwell Corp.

Amata Corp. PCL, NVDR(c)

Bangchak Corp. PCL, NVDRBangkok Airways PCL, NVDR(c)

Bangkok Chain Hospital PCL, NVDRBangkok Land PCL, NVDR

692,342 234,54346,000 188,842

377,000 298,213206,200 279,760182,000 303,723223,000 196,120

64,179,415Thailand — 3.8%

312,200 224,464280,900 318,307569,100 268,628767,800 393,621

9,024,700 564,220

Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS,Class D(a)

Koza Altin Isletmeleri AS(a)

Koza Anadolu Metal Madencilik Isletmeleri AS(a)

Logo Yazilim Sanayi Ve Ticaret AS(a)

Mavi Giyim Sanayi Ve Ticaret AS, Class B(b)

Otokar Otomotiv Ve Savunma Sanayi AS(c)

Sasa Polyester Sanayi AS(a)

Soda Sanayii ASTekfen Holding ASTrakya Cam Sanayii ASTurkiye Sinai Kalkinma Bankasi ASVestel Elektronik Sanayi ve Ticaret AS(a)(c)

414,958 435,31121,413 225,48292,189 171,68219,634 207,70115,272 163,9804,679 79,660

60,798 142,433315,889 369,672118,856 396,584383,671 338,226

1,450,187 389,91741,661 81,349




May 31, 2018


Zorlu Enerji Elektrik Uretim AS(a)

Agthia Group PJSC

Air Arabia PJSC

Al Waha Capital PJSC

Amanat Holdings PJSC

Amlak Finance PJSC(a)

Arabtec Holding PJSCDana Gas PJSCDeyaar Development PJSC(a)

Drake & Scull International PJSC(a)

DXB Entertainments PJSC(a)

Eshraq Properties Co. PJSC(a)


Alpargatas SA, Preference Shares, NVSBanco ABC Brasil SA, Preference Shares, NVSBanco do Estado do Rio Grande do Sul SA, Class B,Preference Shares, NVSBradespar SA, Preference Shares, NVSCia. de Gas de Sao Paulo - COMGAS, PreferenceShares, NVSCia. de Saneamento do Parana, Preference Shares,NVSCia. Energetica de Sao Paulo, Class B, PreferenceShares, NVSCia. Paranaense de Energia, Preference Shares, NVSGol Linhas Aereas Inteligentes SA, PreferenceShares, NVSMarcopolo SA, Preference Shares, NVSMetalurgica Gerdau SA, Preference Shares, NVSRandon SA Implemetos e Participacoes, PreferenceShares, NVS

Avianca Holdings SA, Preference Shares, NVSTotal Preferred Stocks — 1.1%(Cost: $3,427,319)


Turkey (continued)

103,085$

33,624


87,504

114,348

945,877

298,713

475,013

230,190

526,001

196,186

308,665

66,890310,671 164,929375,281 110,342

1,731,305 223,887228,391 72,127

1,979,004 225,747563,157 111,922

1,815,281


78,000 276,05433,923 149,390

83,300 367,061104,300 872,423

10,500 161,643

53,400 127,619

81,700 362,64345,100 284,596

51,000 184,742211,500 202,751286,200 523,361

77,825 144,405

3,656,688Colombia — 0.0%

147,154 141,905

3,798,593

Sun International Ltd. (Expires 06/01/18)(a)(c)

CrystalGenomics Inc., NVS (Expires 06/26/18)(a)(c)

Sungwoo Hitech Co. Ltd., NVS (Expires 06/19/18)(a)


Samart Corp. PCL (Expires 05/17/21)(a)

Total Warrants — 0.0%(Cost: $0)






RightsSouth Africa — 0.0%

11,761 $ 9,453

South Korea — 0.0% 917 2,808 10,206 5,690

8,498

17,951WarrantsThailand — 0.0%

101,933 1,211


31,413,306 31,419,589

31,419,589

365,307,159(30,145,295)

$ 335,161,864






loaned securities.



102




Common Stocks

Preferred Stocks

Rights

Warrants

Money Market Funds

ADRCPOGDRNVDRNVS


May 31, 2018

Affiliates


Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



25,015,086 6,398,220 31,413,306 $31,419,589

$1,122,956(a)

$(3,840)

$1,033

579,280 (579,280) — —

5,865

—

—

$31,419,589

$1,128,821

$(3,840)

$1,033





Investments

Assets

$327,179,713

$ 2,758,391

$ 131,711

$330,069,815

3,798,593

—

—

3,798,593

5,690

12,261

—

17,951

1,211

—

—

1,211

31,419,589

—

—

31,419,589

$362,404,796

$ 2,770,652

$ 131,711

$365,307,159




103



iShares® MSCI Eurozone ETFSchedule of Investments (unaudited)

May 31, 2018


ANDRITZ AG

Erste Group Bank AG

OMV AG

Raiffeisen Bank International AG(a)

Voestalpine AG

AgeasAnheuser-Busch InBev SA/NVColruyt SAGroupe Bruxelles Lambert SAKBC Group NVProximus SADPSolvay SATelenet Group Holding NV(a)

UCB SAUmicore SA

Elisa OYJFortum OYJKone OYJ, Class BMetso OYJNeste OYJNokia OYJNokian Renkaat OYJOrion OYJ, Class BSampo OYJ, Class AStora Enso OYJ, Class RUPM-Kymmene OYJWartsila OYJ Abp

Accor SA, NVSAeroports de Paris, NVSAir Liquide SAAirbus SEAlstom SA, NVSAmundi SA(b)

Arkema SA, NVSAtos SEAXA SA, NVSBioMerieux, NVSBNP Paribas SABollore SA, NVSBouygues SA, NVSBureau Veritas SA, NVSCapgemini SECarrefour SA, NVSCasino Guichard Perrachon SA, NVSCie. de Saint-Gobain, NVS


Common StocksAustria — 0.7%

186,394$

9,290,566

765,070

31,864,595

373,762

21,465,580

372,910

11,792,216 285,412 15,312,096

89,725,053Belgium — 3.2%

475,476 24,087,9991,931,752 180,890,773

149,994 7,961,249204,976 21,706,432637,843 49,289,472382,079 10,217,876191,013 25,641,484132,130 6,672,220320,412 25,246,137528,469 29,857,075

381,570,717Finland — 3.1%

358,299 15,997,7691,129,573 26,516,046

863,776 42,700,891267,845 9,260,853324,596 26,379,075

14,243,669 82,135,557292,447 11,337,007263,389 7,775,509

1,114,266 54,732,7151,392,092 28,445,4261,348,527 49,443,5871,131,419 23,884,952

378,609,387France — 33.1%

477,035 26,065,81375,997 15,852,705

1,086,152 133,632,9651,471,113 167,103,633

389,067 18,393,391154,648 11,289,756172,153 20,949,470238,864 32,399,568

4,914,381 122,332,049101,777 8,945,961

2,846,862 176,325,8752,229,190 10,960,184

549,863 25,378,944671,725 16,630,855405,421 53,311,368

1,466,784 26,410,324141,984 6,132,302

1,264,335 63,277,408

Edenred, NVS(c)

Eiffage SA, NVS

Electricite de France SA, NVS

Engie SAEssilor International Cie Generale d'Optique SA,NVS

Eurazeo SA, NVS

Eurofins Scientific SE, NVS

Eutelsat Communications SAFaurecia SA, NVSFonciere Des RegionsGecina SAGetlink, NVSHermes International, NVSICADEIliad SA, NVSImerys SA, NVSIngenico Group SA, NVSIpsen SA, NVSJCDecaux SAKering SA, NVSKlepierre SALegrand SAL'Oreal SALVMH Moet Hennessy Louis Vuitton SE, NVSNatixis SAOrange SA, NVSPernod Ricard SA, NVSPeugeot SA, NVSPublicis Groupe SA, NVSRemy Cointreau SA, NVSRenault SA, NVSRexel SASafran SASanofi, NVSSchneider Electric SE, NVSSCOR SESEB SA, NVSSES SA(c)

Societe BIC SA, NVSSociete Generale SA, NVSSodexo SA, NVSSTMicroelectronics NVSuezTeleperformance, NVSThales SA, NVSTOTAL SA, NVSUbisoft Entertainment SA, NVS(a)

Unibail-Rodamco SEValeo SA, NVS


France (continued)

585,337$

18,741,924

192,811

21,696,577

1,476,201

19,644,127

4,626,591

73,097,371

526,445

71,837,284

113,207

8,853,816

29,088

14,919,570

440,435

8,446,986189,923 16,073,03784,194 8,771,457

117,116 20,233,0021,182,071 15,992,243

80,278 57,049,72885,960 7,977,11666,425 11,239,11689,860 7,646,740

150,191 11,991,74595,807 15,181,667

189,356 5,883,957192,123 109,822,632526,163 20,464,808674,775 50,835,878637,868 153,086,295706,716 245,051,219

2,373,269 17,170,4205,056,322 86,910,533

537,718 90,197,3401,483,201 34,531,579

520,720 36,190,57457,356 8,482,773

487,675 47,038,193764,646 11,233,007846,495 100,935,783

2,857,533 218,915,2641,365,408 117,593,544

432,636 15,948,40257,202 10,316,255

914,099 15,765,33267,086 6,515,348

1,944,825 83,667,989229,578 22,248,226

1,729,521 41,104,181928,800 12,771,735146,037 23,047,402266,857 33,922,579

6,087,246 369,848,595196,278 21,220,655351,086 78,911,340608,322 38,572,312



104

Cie. Generale des Etablissements Michelin SCA,Class B, NVSCNP Assurances, NVSCredit Agricole SADanone SA, NVS(c)

Dassault Aviation SA, NVSDassault Systemes SE, NVS

431,371 55,741,795429,822 10,044,657

2,888,299 39,581,5351,528,548 116,673,655

6,435 12,454,189328,405 46,059,150

Veolia Environnement SA, NVSVinci SAVivendi SA, NVSWendel SA, NVS

1&1 Drillisch AGadidas AGAllianz SE, RegisteredAxel Springer SEBASF SE

1,341,053 30,400,2781,277,584 124,853,6002,611,653 65,605,481

71,960 9,491,874

3,983,896,441Germany — 27.5%

132,576 9,161,551476,492 107,682,059

1,111,320 228,807,815123,633 8,962,071

2,320,694 228,228,657



iShares® MSCI Eurozone ETFSchedule of Investments (unaudited) (continued)

May 31, 2018


Bayer AG, Registered

Bayerische Motoren Werke AG

Beiersdorf AG

Brenntag AG

Commerzbank AG(a)

Continental AG

Covestro AG(b)

Daimler AG, RegisteredDelivery Hero AG(a)(b)

Deutsche Bank AG, RegisteredDeutsche Boerse AGDeutsche Lufthansa AG, RegisteredDeutsche Post AG, RegisteredDeutsche Telekom AG, RegisteredDeutsche Wohnen SEE.ON SEEvonik Industries AGFraport AG Frankfurt Airport Services WorldwideFresenius Medical Care AG & Co. KGaAFresenius SE & Co. KGaAGEA Group AG(c)

Hannover Rueck SEHeidelbergCement AGHenkel AG & Co. KGaAHOCHTIEF AGHUGO BOSS AG(c)

Infineon Technologies AGInnogy SE(b)(c)

K+S AG, RegisteredKION Group AGLANXESS AGLinde AGMAN SEMerck KGaAMETRO AG(c)

MTU Aero Engines AGMuenchener Rueckversicherungs-GesellschaftAG in Muenchen, RegisteredOSRAM Licht AGProSiebenSat.1 Media SE(c)

Puma SEPuma SEQIAGEN NV(a)

RTL Group SARWE AGSAP SESiemens AG, Registered


Germany (continued)

2,091,698$

248,705,299

835,882

83,307,386

256,386

29,407,185

391,512

22,548,965

2,541,100

25,933,708

278,720

70,633,438

486,334

44,246,347

2,297,353

165,407,228235,524 10,810,134

4,963,953 53,059,513488,361 65,215,283591,743 16,059,739

2,482,194 94,080,6698,425,049 130,012,849

896,996 42,018,6465,582,386 59,116,034

415,825 14,552,065104,713 9,780,961546,254 54,467,392

1,053,009 80,830,688440,419 16,194,181153,023 19,291,360380,155 33,636,616259,619 29,229,48049,489 9,081,208

158,822 14,253,0052,882,550 79,039,148

352,675 14,865,672481,226 12,863,731178,294 14,472,841221,159 17,472,190470,640 107,678,07787,427 9,501,182

329,949 33,638,947452,842 6,089,499132,545 25,018,182

393,039 80,885,439249,638 14,709,992586,587 17,234,474

4,901 2,969,16616,984 10,289,392

575,523 20,866,35298,602 7,429,582

1,314,666 29,763,7472,486,658 279,643,7301,934,787 251,820,113

Bank of Ireland Group PLC

CRH PLC

Irish Bank Resolution Corp. Ltd.(a)(e)

Kerry Group PLC, Class A

Paddy Power Betfair PLC

Ryanair Holdings PLC(a)

Ryanair Holdings PLC, ADR, NVS(a)

Smurfit Kappa Group PLC

Assicurazioni Generali SpA(c)

Atlantia SpACNH Industrial NVDavide Campari-Milano SpA, NVSEnel SpAEni SpAFerrari NVFiat Chrysler Automobiles NV(a)

Intesa Sanpaolo SpALeonardo SpA(c)

Luxottica Group SpAMediobanca Banca di Credito Finanziario SpAMoncler SpAPirelli & C SpA(a)(b)

Poste Italiane SpA(b)

Prysmian SpARecordati SpASnam SpATelecom Italia SpA/Milano(a)(c)

Tenaris SATerna Rete Elettrica Nazionale SpAUniCredit SpA

ABN AMRO Group NV, CVA(b)

Aegon NVAerCap Holdings NV(a)(c)

Akzo Nobel NVArcelorMittalASML Holding NVEXOR NVHeineken Holding NVHeineken NVING Groep NVKoninklijke Ahold Delhaize NVKoninklijke DSM NVKoninklijke KPN NV


Ireland (continued)

2,326,264$

19,198,213

2,114,073

77,981,116

446,666

5

404,297

42,545,011

213,417

25,908,647

42,432

809,582

58,572

6,789,080 575,875 23,796,543

208,100,433Italy — 7.0%

3,015,292 51,212,3561,245,740 36,048,4272,579,895 30,175,3381,432,803 10,687,342

20,597,652 113,077,2096,456,048 116,734,857

311,897 40,594,6172,729,246 61,805,454

34,121,370 100,152,198988,508 10,066,494431,349 26,827,203

1,548,126 14,579,901462,056 21,180,583984,507 8,409,954

1,328,689 11,359,365524,234 14,564,129266,058 9,845,051

5,798,671 23,744,90529,220,906 23,440,0871,196,077 21,431,3693,544,719 18,748,1435,077,589 83,773,183

848,458,165Netherlands — 11.3%

1,075,686 27,900,4984,528,034 28,150,961

337,626 18,674,094639,542 56,064,944

1,684,256 54,459,0751,038,275 202,885,139

274,764 19,885,381293,626 28,551,038654,241 65,402,869

9,839,262 143,084,7133,155,084 72,384,281

459,782 45,716,3968,511,921 23,120,986



105

Siemens Healthineers AG(a)(b)

Symrise AGTelefonica Deutschland Holding AGthyssenkrupp AGUniper SEUnited Internet AG, Registered(d)

Volkswagen AGVonovia SEWirecard AGZalando SE(a)(b)(c)

AIB Group PLC

380,445 15,101,394312,791 25,361,294

1,903,176 8,033,2221,103,850 29,081,982

505,193 15,998,877314,135 20,021,25881,772 15,186,482

1,229,836 57,940,301298,113 45,986,512284,112 15,106,378

3,308,790,688Ireland — 1.7%

2,029,384 11,072,236

Koninklijke Philips NVKoninklijke Vopak NVNN Group NVNXP Semiconductors NV(a)

Randstad NVRELX NVUnilever NVWolters Kluwer NV

EDP - Energias de Portugal SAGalp Energia SGPS SA

2,382,024 97,374,370175,918 8,624,659774,308 33,225,508870,052 99,185,928301,878 17,992,631

2,447,046 53,358,2273,897,351 217,187,247

733,115 41,110,948

1,354,339,893Portugal — 0.5%

6,447,239 25,211,6321,279,410 23,738,467



iShares® MSCI Eurozone ETFSchedule of Investments (unaudited) (continued)

May 31, 2018


Jeronimo Martins SGPS SA

ACS Actividades de Construccion y Servicios SA

Aena SME SA(b)

Amadeus IT Group SA

Banco Bilbao Vizcaya Argentaria SA

Banco de Sabadell SABanco Santander SABankia SABankinter SACaixaBank SAEnagas SAEndesa SAFerrovial SAGas Natural SDG SAGrifols SAIberdrola SAIndustria de Diseno Textil SAInternational Consolidated Airlines Group SAMapfre SARed Electrica Corp. SARepsol SASiemens Gamesa Renewable Energy SA(c)

Telefonica SA

Coca-Cola European Partners PLC, NVSTotal Common Stocks — 97.3%(Cost: $11,942,111,436)

Bayerische Motoren Werke AG, PreferenceShares, NVSFuchs Petrolub SE, Preference Shares, NVSHenkel AG & Co. KGaA, Preference Shares, NVSPorsche Automobil Holding SE, PreferenceShares, NVSSartorius AG, Preference Shares, NVSSchaeffler AG, Preference Shares, NVSVolkswagen AG, Preference Shares, NVS


Portugal (continued)

628,821$

9,872,604

58,822,703Spain — 9.0%

635,662

26,348,707

170,805

32,758,238

1,113,262

88,236,758

16,886,887

115,098,711

14,180,372

23,802,84740,853,851 219,367,9713,104,477 11,763,0341,709,397 16,449,9029,115,492 38,688,899

574,490 15,296,432796,152 17,513,563

1,241,202 25,253,538880,149 21,565,078755,645 22,228,018

14,681,982 104,063,5982,759,529 87,004,5431,548,664 14,042,6412,704,294 8,182,2231,165,739 22,656,7683,336,193 63,497,168

601,012 9,229,03711,828,890 104,207,920

1,087,255,594United Kingdom — 0.2%

547,841 20,801,523

11,720,370,597Preferred StocksGermany — 1.8%

140,327 12,277,085178,016 9,321,820454,239 56,019,123

389,689 28,694,07491,555 13,391,077

425,455 6,361,875471,441 88,567,367

214,632,421

Intesa Sanpaolo SpA, Preference Shares, NVSTelecom Italia SpA/Milano, Preference Shares,NVS


Ferrovial SA, NVS (Expires 06/05/18)(a)

Total Rights — 0.0%(Cost: $473,708)


BlackRock Cash Funds: Treasury, SL AgencyShares, 1.64%(f)(g)





Italy — 0.2% 2,404,522 $ 7,227,505

14,985,900 10,478,329

17,705,834

232,338,255RightsSpain — 0.0%

1,308,533 476,564


132,664,600 132,691,133

6,066,467 6,066,467

138,757,600

138,757,600

12,091,943,016

(49,936,958)

$ 12,042,006,058



(c) All or a portion of this security is on loan.(d) This security may be resold to qualified foreign investors and foreign institutional

buyers under Regulation S of the Securities Act of 1933.(e) Security is valued using significant unobservable inputs and is classified as Level

3 in the fair value hierarchy.(f) Affiliate of the Fund.(g) Annualized 7-day yield as of period-end.(h) All or a portion of this security was purchased with cash collateral received from

loaned securities.



106




Euro STOXX 50

Common Stocks

Preferred Stocks

Rights

Money Market Funds

Futures Contracts

iShares® MSCI Eurozone ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates


Affiliated Issuer



Value at 05/31/18

Income

Net



57,577,483 75,087,117 132,664,600 $132,691,133

$1,534,318(a)

$(32,992)

$12,332

489,933 5,576,534 6,066,467 6,066,467

56,499

—

—

$138,757,600

$1,590,817

$(32,992)

$12,332



Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)

Long Contracts 2,167 06/15/18

$86,181 $ (3,262,169)




Investments

Assets

$11,720,370,592

$ —

$ 5

$11,720,370,597

232,338,255

—

—

232,338,255

476,564

—

—

476,564

138,757,600

—

—

138,757,600

$

12,091,943,011

$ —

$ 5

$12,091,943,016


Liabilities

$(3,262,169)

$—

$—

$(3,262,169)


Portfolio Abbreviations - Equity



ADRNVS

American Depositary ReceiptNon-Voting Shares

107



iShares® MSCI France ETFSchedule of Investments (unaudited)

May 31, 2018


Airbus SE

Dassault Aviation SA, NVS

Safran SAThales SA, NVS

Bollore SA, NVS

Cie. Generale des Etablissements Michelin SCA, ClassB, NVSFaurecia SA, NVSValeo SA, NVS

Peugeot SA, NVSRenault SA, NVS

BNP Paribas SACredit Agricole SASociete Generale SA, NVS

Pernod Ricard SA, NVSRemy Cointreau SA, NVS

Cie. de Saint-Gobain, NVS

Amundi SA(a)

Natixis SA

Air Liquide SAArkema SA, NVS

Edenred, NVS(b)

Societe BIC SA, NVS

Bouygues SA, NVSEiffage SA, NVSVinci SA

Imerys SA, NVS

Eurazeo SA, NVSWendel SA, NVS



312,750$

35,525,253

1,336

2,585,671

179,566

21,411,390 56,975 7,242,602

66,764,916Air Freight & Logistics — 0.3%

471,770 2,319,536


92,215 11,916,03040,787 3,451,772

129,155 8,189,424

23,557,226Automobiles — 2.0%

316,209 7,361,913103,504 9,983,372

17,345,285Banks — 7.3%

604,749 37,456,293613,220 8,403,627412,979 17,766,700

63,626,620Beverages — 2.4%

114,244 19,163,39912,212 1,806,117

20,969,516Building Products — 1.5%

267,869 13,406,301

Capital Markets — 0.7%32,537 2,375,296

505,827 3,659,620

6,034,916Chemicals — 3.8%

230,419 28,349,23136,604 4,454,377


126,298 4,043,94014,013 1,360,933


116,375 5,371,29242,040 4,730,664

270,828 26,467,028


19,391 1,650,100

Diversified Financial Services — 0.4%24,577 1,922,14414,940 1,970,659

Orange SA, NVS

Electricite de France SA, NVS(b)

Legrand SASchneider Electric SE, NVS

Ingenico Group SA, NVS

Fonciere Des RegionsGecina SAICADEKlepierre SAUnibail-Rodamco SE

Carrefour SA, NVSCasino Guichard Perrachon SA, NVS

Danone SA, NVS(b)

BioMerieux, NVSEssilor International Cie Generale d'Optique SA, NVS

Accor SA, NVSSodexo SA, NVS

SEB SA, NVS

AXA SA, NVSCNP Assurances, NVSSCOR SE

Atos SECapgemini SE

Eurofins Scientific SE, NVS

Alstom SA, NVS

Eutelsat Communications SAJCDecaux SAPublicis Groupe SA, NVSSES SAVivendi SA, NVS


Diversified Telecommunication Services (continued)

1,073,688$

18,455,074


315,391 4,196,977

Electrical Equipment — 4.1%

143,239

10,791,272 290,007 24,976,381

35,767,653Electronic Equipment, Instruments & Components — 0.3%

31,874 2,544,925

Equity Real Estate Investment Trusts (REITs) — 3.3%19,848 2,067,79424,584 4,247,14118,040 1,674,118

111,026 4,318,29374,273 16,693,864


312,940 5,634,67230,049 1,297,819

6,932,491Food Products — 2.9%

324,800 24,791,896

Health Care Equipment & Supplies — 2.0%22,403 1,969,172

111,944 15,275,580


101,171 5,528,11548,601 4,709,885

10,238,000Household Durables — 0.3%

12,153 2,191,767

Insurance — 3.6%1,043,876 25,984,857

92,594 2,163,86190,024 3,318,584

31,467,302IT Services — 2.1%

50,986 6,915,75386,509 11,375,614

18,291,367Life Sciences Tools & Services — 0.4%

6,177 3,168,254

Machinery — 0.5%83,470 3,946,098

Media — 3.3%94,296 1,808,47840,339 1,253,475

111,409 7,743,040195,917 3,378,952557,952 14,015,916



108

Iliad SA, NVS


14,200 2,402,641

28,199,861




iShares® MSCI France ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



— 792,206 792,206$

792,364

$113,006(a)

$(158)

$1

218,501 500,779 719,280 719,280 2,067 — —

$1,511,644

$115,073

$(158)

$1

ArcelorMittal

Engie SA

SuezVeolia Environnement SA, NVS

TOTAL SA, NVS

L'Oreal SA

Ipsen SA, NVSSanofi, NVS

Bureau Veritas SA, NVSTeleperformance, NVS

STMicroelectronics NV

Dassault Systemes SE, NVSUbisoft Entertainment SA, NVS(c)

Hermes International, NVSKering SA, NVSLVMH Moet Hennessy Louis Vuitton SE, NVSPuma SE

Rexel SA



357,641$

11,564,037

Multi-Utilities — 2.9%

979,795

15,480,175

198,117

2,724,265 288,345 6,536,482


1,296,779 78,789,635

Personal Products — 3.8%135,578 32,538,290

Pharmaceuticals — 5.7%20,226 3,205,031

607,945 46,574,594


142,431 3,526,36831,030 4,897,121


367,502 8,734,134

Software — 1.7%69,817 9,791,90841,933 4,533,599


17,045 12,113,06540,774 23,307,506

150,068 52,035,53735 21,204

87,477,312Trading Companies & Distributors — 0.3%

163,463 2,401,348

Aeroports de Paris, NVS

Getlink, NVS


BlackRock Cash Funds: Institutional, SL Agency Shares,1.98%(d)(e)(f)







15,938$

3,324,611

251,507 3,402,639

6,727,250


792,206

792,364

719,280 719,280

1,511,644

1,511,644

860,198,145

5,444,200

$865,642,345


(b) All or a portion of this security is on loan.(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 cash collateral received from

loaned securities.




109



CAC 40 Index

Common Stocks

Money Market Funds

Futures Contracts

NVS

iShares® MSCI France ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Futures Contracts


Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$6,592 $ (136,594)




Investments

Assets

$858,686,501

$ —

$ —

$858,686,501

1,511,644

—

—

1,511,644

$860,198,145

$ —

$ —

$860,198,145


Liabilities

$ (136,594)

$ —

$ —

$ (136,594)





110



iShares® MSCI Frontier 100 ETFSchedule of Investments (unaudited)

May 31, 2018


Adecoagro SA(a)

Arcos Dorados Holdings Inc., Class A

Banco Macro SA, ADR

BBVA Banco Frances SA, ADR

Central Puerto SA, ADR

Corp. America Airports SA(a)

Cresud SACIF y A, ADREmpresa Distribuidora y Comercializadora Norte SA,ADR(a)

Globant SA(a)(b)

Grupo Financiero Galicia SA, ADRGrupo Supervielle SA, ADR(b)

IRSA Inversiones y Representaciones SA, ADRLoma Negra Cia Industrial Argentina SA, ADR(a)

Pampa Energia SA, ADR(a)

Telecom Argentina SA, ADRTransportadora de Gas del Sur SA, Class B, ADR(a)

YPF SA, ADR

Ahli United Bank BSCAluminium Bahrain BSCGFH Financial Group BSCIthmaar Holding BSC(a)

ACI Ltd.Acme Laboratores Ltd. (The)Bangladesh Export Import Co. Ltd.Beximco Pharmaceuticals Ltd.BRAC Bank Ltd.City Bank Ltd. (The)Eastern Bank Ltd.GrameenPhone Ltd.International Finance Investment & Commerce BankLtd.(a)

Islami Bank Bangladesh Ltd.LafargeHolcim Bangladesh Ltd.National Bank Ltd.(a)

Olympic Industries Ltd.Pubali Bank Ltd.Renata Ltd.Square Pharmaceuticals Ltd.Summit Power Ltd.

Despegar.com Corp.(a)


Common StocksArgentina — 20.6%

436,670$

3,550,127

555,616

4,111,558

210,709

16,563,834

329,277

4,725,125

316,075

4,276,495

137,986

1,647,553

156,947

2,657,113

98,184 4,375,079125,148 6,445,122471,233 19,928,444273,916 4,703,138103,348 1,963,612270,498 3,489,424295,041 14,073,456491,308 10,823,515345,160 5,753,817794,743 14,432,533

123,519,945Bahrain — 3.8%

28,172,470 15,656,550922,686 1,502,388

12,163,555 4,702,2988,111,597 906,953

22,768,189Bangladesh — 6.0%

108,023 435,2151,013,275 1,162,2494,282,136 1,396,7662,284,474 2,683,1213,904,297 3,475,3583,818,228 1,541,9812,256,247 970,487

674,478 3,342,774

5,688,196 863,1354,528,168 1,271,4252,788,582 1,805,856

12,829,972 1,502,2851,003,138 2,844,1922,510,791 683,984

64,201 927,3272,954,126 9,960,6232,978,750 1,274,141

36,140,919British Virgin Islands — 0.4%

89,373 2,081,497

Croatia — 0.3%

Halyk Savings Bank of Kazakhstan JSC, GDR(c)

KCell JSC, GDR(c)

Co-operative Bank of Kenya Ltd. (The)

East African Breweries Ltd.

Equity Group Holdings Ltd./Kenya

KCB Group Ltd.Safaricom PLC

Agility Public Warehousing Co. KSCAl Mazaya Holding Co. KSCPAlimtiaz Investment Co. KSCCBoubyan Bank KSCPBurgan Bank SAKGulf Bank KSCPHuman Soft Holding Co. KSCKuwait Finance House KSCPKuwait International Bank KSCPKuwait Projects Co. Holding KSCPMabanee Co. SAKMezzan Holding Co. KSCCMobile Telecommunications Co. KSCNational Bank of Kuwait SAKPNational Industries Group Holding SAKNational Real Estate Co. KPSC(a)

Warba Bank KSCP(a)

Greenbay Properties Ltd.

Attijariwafa BankBanque Centrale PopulaireCiments du MarocCosumarDouja Promotion Groupe Addoha SAMaroc TelecomSociete d'Exploitation des PortsTOTAL Maroc SA

Digi Communications NV(d)

Access Bank PLCAfriland Properties PLC(a)

Dangote Cement PLCFBN Holdings PLCGuaranty Trust Bank PLCLafarge Africa PLCNestle Nigeria PLC


Kazakhstan — 0.9%

383,735$

4,624,007 211,846 953,307

5,577,314Kenya — 7.0%

12,594,060

2,111,430

2,399,242

5,560,373

16,499,900

7,688,563

14,048,436

6,373,05872,190,567 20,112,264

41,845,688Kuwait — 18.5%

3,729,020 9,004,911425,096 123,324

3,499,274 1,504,8153,179,200 5,258,3533,027,294 2,453,4805,880,152 5,076,810

298,500 3,278,26713,953,483 23,632,7602,220,496 1,608,6292,091,676 1,660,6092,255,261 4,707,475

601,710 1,405,25110,591,316 13,138,41713,664,072 32,679,8684,454,155 2,210,1332,920,925 1,024,2082,198,205 1,723,370

110,490,680Mauritius — 0.9%

47,250,625 5,111,201

Morocco — 7.4%244,386 12,481,645125,536 3,839,93117,087 3,015,427

112,662 3,261,078776,251 1,757,315

1,075,356 16,203,203131,667 2,635,531

7,809 1,295,045

44,489,175Netherlands — 0.1%

63,937 464,350

Nigeria — 6.7%86,644,398 2,497,857

8,020 449,116,124 6,064,781

107,262,625 3,017,92387,977,936 9,876,94115,827,202 1,526,7821,851,615 7,557,874



111

Valamar Riviera DD

Al-Eqbal Investment Co. PLC(a)

Arab Bank PLCBank of JordanJordan Islamic BankJordan Petroleum Refinery Co.

299,827 1,942,498

Jordan — 1.9%53,619 2,471,235

497,826 4,911,602331,372 1,167,625290,283 1,333,788437,553 1,578,768

11,463,018

United Bank for Africa PLCZenith Bank PLC

Bank Muscat SAOGBank Nizwa SAOG(a)

103,069,638 3,085,66193,820,738 6,631,819

40,259,682Oman — 2.4%

5,150,813 5,459,9425,131,760 1,186,611




iShares® MSCI Frontier 100 ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



4,575,839 (2,082,572) 2,493,267 $2,493,766

$14,038(a)

$(452)

$(236)

3,859,935 (3,859,935) — — 42,021 — —

Bank Sohar SAOG

Oman Telecommunications Co. SAOG

Ooredoo QSCPhoenix Power Co. SAOC

Banca Transilvania SA

BRD-Groupe Societe Generale SAOMV Petrom SASocietatea Energetica Electrica SASocietatea Nationala de Gaze Naturale ROMGAZ SATransgaz SA Medias

Petrol DD LjubljanaZavarovalnica Triglav DD

Sampath Bank PLC

Bank for Foreign Trade of Vietnam JSCFLC Faros Construction JSC(a)

Hoa Phat Group JSC(a)

Hoa Sen GroupHoang Huy Investment Financial Services JSCKinh Bac City Development Share Holding Corp.(a)

Masan Group Corp.(a)

No Va Land Investment Group Corp.(a)

PetroVietnam Fertilizer & Chemicals JSCPetroVietnam Gas JSCPetroVietnam Technical Services Corp.Saigon Beer Alcohol Beverage Corp.Saigon Securities Inc.


Oman (continued)

2,527,837$

886,615

2,001,919

3,890,453

1,624,058

2,151,908 1,789,870 581,278

14,156,807Romania — 5.4%

19,017,309

11,334,993

1,320,269

4,099,95870,282,806 5,385,993

993,494 2,458,201696,710 6,115,54729,774 2,758,889

32,153,581Slovenia — 0.6%

2,726 1,065,99062,875 2,495,395

3,561,385Sri Lanka — 0.3%

1,017,832 1,962,566

Vietnam — 16.2%1,734,585 4,114,753

851,662 2,266,7674,417,372 10,866,201

106,431 49,4681,073,110 1,312,8021,455,630 804,2152,773,530 9,850,7381,462,079 3,269,5791,087,530 791,590

342,290 1,356,7931,288,200 960,247

381,450 4,014,2072,068,670 2,902,633

Saigon Thuong Tin Commercial JSB(a)

Thanh Thanh Cong - Bien Hoa JSC(a)

Vietnam Dairy Products JSC

Vincom Retail JSC(a)

Vingroup JSC(a)







Vietnam (continued)

3,440,719$

1,772,711

1,644,150

1,063,370

3,305,810

23,801,368

4,545,590

8,570,568 3,758,770 19,118,535

96,886,545


2,493,267 2,493,766

2,493,766

597,368,806

1,286,190

$598,654,996

(a) Non-income producing security.(b) All or a portion of this security is on loan.(c) This security may be resold to qualified foreign investors and foreign institutional

buyers under Regulation S of the Securities Act of 1933.(d) Security exempt from registration pursuant to Rule 144A under the Securities Act



loaned securities.



$2,493,766

$56,059

$(452)

$(236)



112



Common Stocks

Money Market Funds

ADRGDR

iShares® MSCI Frontier 100 ETF Schedule of Investments (unaudited) (continued)

May 31, 2018




Investments

Assets

$594,874,996

$ 44

$ —

$594,875,040

2,493,766

—

—

2,493,766

$597,368,762

$ 44

$ —

$597,368,806

Portfolio Abbreviations - EquityAmerican Depositary ReceiptGlobal Depositary Receipt



113



iShares® MSCI Germany ETFSchedule of Investments (unaudited)

May 31, 2018


MTU Aero Engines AG

Deutsche Post AG, Registered

Deutsche Lufthansa AG, Registered

Continental AG

Bayerische Motoren Werke AGDaimler AG, RegisteredVolkswagen AG

Commerzbank AG(a)

Deutsche Bank AG, RegisteredDeutsche Boerse AG

BASF SECovestro AG(b)

Evonik Industries AGK+S AG, RegisteredLANXESS AGLinde AGSymrise AG

HOCHTIEF AG

HeidelbergCement AG

Deutsche Telekom AG, RegisteredTelefonica Deutschland Holding AG

OSRAM Licht AG

METRO AG(c)

Siemens Healthineers AG(a)(b)

Fresenius Medical Care AG & Co. KGaAFresenius SE & Co. KGaA

Henkel AG & Co. KGaA

Uniper SE



141,277$

26,666,368

Air Freight & Logistics — 2.7% 2,666,409 101,062,827

Airlines — 0.5% 638,021 17,315,710

Auto Components — 2.0% 298,462 75,636,470

Automobiles — 7.4%898,318 89,530,011

2,467,716 177,673,20288,074 16,356,873

283,560,086Banks — 0.7%

2,720,956 27,769,265

Capital Markets — 3.3%5,325,368 56,922,665

523,642 69,926,676

126,849,341Chemicals — 12.7%

2,491,979 245,073,681521,944 47,486,121443,246 15,511,680518,504 13,860,215237,019 18,725,176503,927 115,293,835334,594 27,129,096


52,146 9,568,766

Construction Materials — 0.9%403,384 35,691,949

Diversified Telecommunication Services — 3.9%9,042,997 139,548,8392,029,719 8,567,354

148,116,193Electrical Equipment — 0.4%

269,842 15,900,518

Food & Staples Retailing — 0.2%486,047 6,536,016


Health Care Providers & Services — 3.8%584,886 58,319,418

1,128,549 86,629,261

144,948,679Household Products — 0.8%

281,953 31,743,977

Independent Power and Renewable Electricity Producers — 0.5%546,385 17,303,380

Siemens AG, Registered

Allianz SE, Registered

Hannover Rueck SEMuenchener Rueckversicherungs-Gesellschaft AGin Muenchen, Registered

Zalando SE(a)(b)

Delivery Hero AG(a)(b)

United Internet AG, Registered

Wirecard AG

QIAGEN NV(a)

GEA Group AG(c)

KION Group AGMAN SE

Axel Springer SEProSiebenSat.1 Media SERTL Group SA

thyssenkrupp AG

E.ON SEInnogy SE(b)(c)

RWE AG

Beiersdorf AG

Bayer AG, RegisteredMerck KGaA

Deutsche Wohnen SEVonovia SE

Infineon Technologies AG

SAP SE

adidas AGHUGO BOSS AG


Industrial Conglomerates — 7.1%

2,075,565$

270,142,921

Insurance — 9.3%

1,195,060

246,048,904

163,609

20,625,920

420,621 86,561,675

353,236,499Internet & Direct Marketing Retail — 0.4%

302,042 16,059,725

Internet Software & Services — 0.9%248,912 11,424,619333,439 21,251,590

32,676,209IT Services — 1.3%

318,493 49,130,303

Life Sciences Tools & Services — 0.6%619,152 22,448,179

Machinery — 1.1%471,901 17,351,772192,238 15,604,73295,504 10,378,955

43,335,459Media — 0.9%

132,361 9,594,758632,171 18,573,775104,468 7,871,580

36,040,113Metals & Mining — 0.8%

1,182,324 31,149,455

Multi-Utilities — 2.9%5,971,924 63,241,141

376,827 15,883,7081,405,882 31,828,857


273,367 31,354,886


350,655 35,749,964

302,521,223Real Estate Management & Development — 2.8%

962,687 45,095,8581,317,369 62,064,174


3,082,690 84,526,961

Software — 7.9%2,666,502 299,868,565

Textiles, Apparel & Luxury Goods — 3.8%510,879 115,453,151171,911 15,427,637



114

Puma SE 22,547 13,659,617

144,540,405




iShares® MSCI Germany ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



69,810,722 (38,477,295) 31,333,427 $31,339,693

$685,622(a)

$(22,001)

$6,231

589,306 (500,490) 88,816 88,816

11,595

—

—

$31,428,509

$697,217

$(22,001)

$6,231



Brenntag AG

Fraport AG Frankfurt Airport Services Worldwide

1&1 Drillisch AGTotal Common Stocks — 93.1%(Cost: $3,757,773,922)

Schaeffler AG, Preference Shares, NVS

Bayerische Motoren Werke AG, Preference Shares,NVSPorsche Automobil Holding SE, Preference Shares,NVSVolkswagen AG, Preference Shares, NVS

Fuchs Petrolub SE, Preference Shares, NVS

Sartorius AG, Preference Shares, NVS

Henkel AG & Co. KGaA, Preference Shares, NVSTotal Preferred Stocks — 6.0%(Cost: $268,524,516)


Trading Companies & Distributors — 0.6%

418,562$

24,106,898


112,439 10,502,626

Wireless Telecommunication Services — 0.3% 144,520 9,986,931

3,547,621,860

Preferred StocksAuto Components — 0.2%

448,139 6,701,072

Automobiles — 3.6%

150,005 13,123,805

415,460 30,591,677503,524 94,594,646

138,310,128Chemicals — 0.2%

187,801 9,834,212


Household Products — 1.6%484,014 59,691,132

228,611,399








31,333,427$

31,339,693

88,816 88,816

31,428,509

31,428,509

3,807,661,768

2,484,361

$3,810,146,129




loaned securities.



DAX Index

Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$32,756 $ (1,073,326)

115



Common Stocks

Preferred Stocks

Money Market Funds

Futures Contracts

NVS

iShares® MSCI Germany ETF Schedule of Investments (unaudited) (continued)

May 31, 2018





Investments

Assets

$3,547,621,860

$ —

$ —

$3,547,621,860

228,611,399

—

—

228,611,399

31,428,509

—

—

31,428,509

$3,807,661,768

$ —

$ —

$3,807,661,768


Liabilities

$ (1,073,326)

$ —

$ —

$ (1,073,326)





116



iShares® MSCI Global Agriculture Producers ETF Schedule of Investments (unaudited)

May 31, 2018


Australian Agricultural Co. Ltd.(a)(b)

Costa Group Holdings Ltd.

Elders Ltd.

GrainCorp Ltd., Class A

Inghams Group Ltd.

Nufarm Ltd./Australia

Select Harvests Ltd.Tassal Group Ltd.

Sao Martinho SASLC Agricola SA

Ag Growth International Inc.Nutrien Ltd.Rogers Sugar Inc.

Beijing Dabeinong Technology Group Co. Ltd., Class AChina Agri-Industries Holdings Ltd.China BlueChemical Ltd., Class HChina Huishan Dairy Holdings Co. Ltd.(a)(c)

China Modern Dairy Holdings Ltd.(a)

China Shengmu Organic Milk Ltd.(a)(b)(d)

COFCO Meat Holdings Ltd.(a)(b)

First Tractor Co. Ltd., Class HHenan Shuanghui Investment & Development Co. Ltd.,Class AInner Mongolia Yili Industrial Group Co. Ltd., Class ANew Hope Liuhe Co. Ltd., Class AQinghai Salt Lake Industry Co. Ltd., Class ASinofert Holdings Ltd.(a)(b)

Tongwei Co. Ltd., Class A

Ponsse OYJ

Naturex, NVS(a)

K+S AG, RegisteredKWS Saat SESuedzucker AG(b)

WH Group Ltd.(d)


Common StocksAustralia — 2.0%

30,338$

28,923

23,804

138,507

9,064

60,696

18,942

114,803

20,438

61,239

19,074

136,963

7,854

41,30214,586 45,360

627,793Brazil — 0.4%

13,200 62,1004,400 53,522

115,622Canada — 8.7%

1,364 60,64053,350 2,698,3457,612 31,746

2,790,731China — 0.9%

2,200 1,879176,200 74,801132,000 44,089295,050 —154,000 29,449308,000 31,80566,000 10,93844,000 15,145

2,200 10,0634,400 21,3152,200 2,4492,200 4,221

176,000 23,7832,200 3,874

273,811Finland — 0.1%

924 32,573

France — 0.2%457 71,590

Germany — 1.9%15,862 424,010

198 74,3075,918 105,935

604,252Hong Kong — 2.3%

726,000 745,052

India — 2.4%

Jain Irrigation Systems Ltd.

Kaveri Seed Co. Ltd.

KRBL Ltd.

Monsanto India Ltd.

Rallis India Ltd.

Sharda Cropchem Ltd.

Tata Global Beverages Ltd.

UPL Ltd.Venky's India Ltd.

Charoen Pokphand Indonesia Tbk PTEagle High Plantations Tbk PT(a)

Inti Agri Resources Tbk PT(a)

Japfa Comfeed Indonesia Tbk PTPerusahaan Perkebunan London Sumatra Indonesia TbkPTSalim Ivomas Pratama Tbk PTSawit Sumbermas Sarana Tbk PTTunas Baru Lampung Tbk PT

Origin Enterprises PLC

Israel Chemicals Ltd.Israel Corp. Ltd. (The)

CNH Industrial NV

Chubu Shiryo Co. Ltd.Hokuto Corp.Iseki & Co. Ltd.Kubota Corp.Kumiai Chemical Industry Co. Ltd.Maruha Nichiro Corp.Mitsui Sugar Co. Ltd.NH Foods Ltd.Nihon Nohyaku Co. Ltd.Nippon Beet Sugar Manufacturing Co. Ltd.Sakata Seed Corp.YAMABIKO Corp.

Boustead Plantations BhdFelda Global Ventures Holdings Bhd(b)

Genting Plantations Bhd(b)

IOI Corp. Bhd


India (continued)

24,420$

37,472

2,486

19,744

3,894

30,981

352

14,844

3,828

12,114

1,760

11,271

24,574

98,030

29,480

309,118284 12,709

774,101Indonesia — 1.0%

611,600 161,978781,000 10,511

2,644,400 45,675380,600 42,593

259,600 21,485261,800 10,269264,000 22,705228,800 18,607

333,823Ireland — 0.2%

10,142 63,929

Isreal — 1.0%58,300 270,178

308 63,208

333,386Italy — 3.1%

84,700 990,680

Japan — 6.7%2,200 41,4912,200 41,1672,200 40,094

81,400 1,373,3378,800 55,2413,300 126,205

800 26,9137,100 292,4434,400 27,904

700 14,5292,200 82,8202,200 29,078

2,151,222Malaysia — 2.7%

37,400 12,028134,200 52,93819,800 47,261

160,600 186,829



117

Bayer CropScience Ltd./IndiaChambal Fertilizers and Chemicals Ltd.Coromandel International Ltd.Deepak Fertilisers & Petrochemicals Corp. Ltd.Dhanuka Agritech Ltd.EID Parry India Ltd.(a)

Escorts Ltd.Gujarat Narmada Valley Fertilizers & Chemicals Ltd.

682 46,7188,162 20,4405,764 38,5181,694 8,135

968 8,2294,444 15,5944,950 68,3973,080 21,787

Kuala Lumpur Kepong BhdQL Resources Bhd(b)

Sime Darby Plantation Bhd

Industrias Bachoco SAB de CV, Series B

ForFarmers NV

35,200 220,22155,905 74,306

198,000 275,608

869,191Mexico — 0.2%

15,400 70,104

Netherlands — 0.7%3,080 41,490



iShares® MSCI Global Agriculture Producers ETF Schedule of Investments (unaudited) (continued)

May 31, 2018


OCI NV(a)(b)

Austevoll Seafood ASA

Bakkafrost P/F

Grieg Seafood ASA

Leroy Seafood Group ASA

Marine Harvest ASANorway Royal Salmon ASASalmar ASAYara International ASA

Engro Corp. Ltd./PakistanEngro Fertilizers Ltd.Fauji Fertilizer Bin Qasim Ltd.Fauji Fertilizer Co. Ltd.Millat Tractors Ltd.

Grupa Azoty SA

PhosAgro PJSC, GDR, NVS(e)

Ros Agro PLC, GDR(e)

Bumitama Agri Ltd.China XLX Fertiliser Ltd.First Resources Ltd.(b)

Golden Agri-Resources Ltd.Indofood Agri Resources Ltd.Japfa Ltd.Wilmar International Ltd.

Astral Foods Ltd.Oceana Group Ltd.Tongaat Hulett Ltd.

Dongwon Industries Co. Ltd.Easy Bio Inc.FarmscoJeil Holdings Co. Ltd.Namhae Chemical Corp.Sajo Industries Co. Ltd.


Netherlands (continued)

6,116$

167,557

209,047Norway — 6.2%

7,546

90,376

3,432

179,767

4,158

46,598

24,684

163,624

34,496

690,1271,072 24,5514,224 184,291

14,696 605,617

1,984,951Pakistan — 0.5%

22,000 58,60942,967 27,63133,000 11,26046,100 39,2102,200 23,379

160,089Poland — 0.1%

3,696 42,557

Russia — 0.5%9,724 129,3291,782 20,443

149,772Singapore — 1.9%

30,800 16,12044,000 18,17446,200 56,306

534,600 125,9102,100 393

28,600 11,868158,400 383,727

612,498South Africa — 0.5%

3,388 72,2863,256 21,5959,042 57,829

151,710South Korea — 0.5%

110 34,0833,388 29,2611,364 17,0822,002 27,8591,870 32,440

198 12,307

153,032

Thaifoods Group PCL, NVDR(b)

Gubre Fabrikalari TAS(a)

Turk Traktor ve Ziraat Makineleri AS

Sirius Minerals PLC(a)

AGCO Corp.AgroFresh Solutions Inc.(a)

American Vanguard Corp.Archer-Daniels-Midland Co.Bunge Ltd.Cal-Maine Foods Inc.(a)

CF Industries Holdings Inc.Darling Ingredients Inc.(a)

Deere & Co.FMC Corp.Fresh Del Monte Produce Inc.Ingredion Inc.Intrepid Potash Inc.(a)

Lindsay Corp.Monsanto Co.Mosaic Co. (The)Sanderson Farms Inc.Scotts Miracle-Gro Co. (The)Titan International Inc.Toro Co. (The)


Sociedad Quimica y Minera de Chile SA, Series B,Preference SharesTotal Preferred Stocks — 1.3%(Cost: $228,256)

BlackRock Cash Funds: Institutional, SL Agency Shares,1.98%(f)(g)(h)

BlackRock Cash Funds: Treasury, SL Agency Shares,1.64%(f)(g)





Thailand (continued) 110,000 $ 16,436

268,177Turkey — 0.0%

3,333 2,343 1,044 13,483

15,826United Kingdom — 0.5%

333,102 152,475

United States — 51.8%5,258 334,4092,310 16,3322,222 47,884

46,310 2,024,67311,660 810,9532,530 121,567

19,316 794,66013,662 256,70925,432 3,802,33811,132 969,4862,640 118,5625,984 666,5588,030 35,974

880 86,61036,520 4,654,83930,294 832,7821,694 165,8093,542 301,5314,202 48,7858,888 515,504

16,605,965

31,490,186Preferred StocksChile — 1.3%

7,986 415,935


409,123 409,205

34,588 34,588

443,793

443,793

32,349,914

(273,640)

$ 32,076,274



118

Scandi Standard AB

Charoen Pokphand EnterpriseTaiwan Fertilizer Co. Ltd.

Charoen Pokphand Foods PCL, NVDRGFPT PCL, NVDR(b)

Khon Kaen Sugar Industry PCL, NVDR(b)

Sweden — 0.1%4,488 29,830

Taiwan — 0.3%22,000 42,95544,000 63,442

106,397Thailand — 0.8%

283,800 221,78842,900 16,093

134,354 13,860



BlackRock Cash Funds: Institutional, SLAgency SharesBlackRock Cash Funds: Treasury, SLAgency SharesiShares India 50 ETF

Common Stocks

Preferred Stocks

Money Market Funds

iShares® MSCI Global Agriculture Producers ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

(a) Non-income producing security.(b) All or a portion of this security is on loan.(c) Security is valued using significant unobservable inputs and is classified as Level

3 in the fair value hierarchy.(d) Security exempt from registration pursuant to Rule 144A under the Securities Act


(e) This security may be resold to qualified foreign investors and foreign institutionalbuyers under Regulation S of the Securities Act of 1933.

(f) Affiliate of the Fund.(g) Annualized 7-day yield as of period-end.(h) All or a portion of this security was purchased with cash collateral received from

loaned securities.


Affiliated Issuer


Shares Purchased

Shares Sold


Value at 05/31/18

Income

Net



1,885,655 — (1,476,532) (a) 409,123 $409,205

$19,211(b)

$(95)

$(45)

37,102 — (2,514) (a) 34,588 34,588

371

—

—

22,680 4,117 (26,797) — — 1,308 137,122 (133,195)

$443,793

$20,890

$137,027

$(133,240)







Investments

Assets

$31,490,186

$

—

$ 0

(a)

$31,490,186

415,935

—

—

415,935

443,793

—

—

443,793

$32,349,914

$

—

$ 0

(a)

$32,349,914

(a) Rounds to less than $1.



GDRNVDRNVS

Portfolio Abbreviations - EquityGlobal Depositary ReceiptNon-Voting Depositary ReceiptNon-Voting Shares

119



iShares® MSCI Global Energy Producers ETF Schedule of Investments (unaudited)

May 31, 2018


Beach Energy Ltd.

Karoon Gas Australia Ltd.(a)(b)

Oil Search Ltd.

Santos Ltd.(a)

Washington H Soul Pattinson & Co. Ltd.

Whitehaven Coal Ltd.Woodside Petroleum Ltd.

OMV AG

FLEX LNG Ltd.(a)

Gulf Keystone Petroleum Ltd.(a)

Petroleo Brasileiro SAQGEP Participacoes SA

Advantage Oil & Gas Ltd.(a)(b)

ARC Resources Ltd.Athabasca Oil Corp.(a)(b)

Baytex Energy Corp.(a)

Birchcliff Energy Ltd.Bonavista Energy Corp.Bonterra Energy Corp.Cameco Corp.Canacol Energy Ltd.(a)

Canadian Natural Resources Ltd.Cardinal Energy Ltd.(b)

Cenovus Energy Inc.Crescent Point Energy Corp.Crew Energy Inc.(a)

Encana Corp.Enerplus Corp.Freehold Royalties Ltd.Husky Energy Inc.Imperial Oil Ltd.Kelt Exploration Ltd.(a)

MEG Energy Corp.(a)(b)

NexGen Energy Ltd.(a)

NuVista Energy Ltd.(a)

Obsidian Energy Ltd.(a)

Painted Pony Energy Ltd.(a)(b)

Paramount Resources Ltd., Class A(a)(b)

Parex Resources Inc.(a)

Pengrowth Energy Corp.(a)

Peyto Exploration & Development Corp.



27,846$

34,554

4,716

3,925

22,590

141,357

28,278

125,384

1,764

26,067

10,800

42,984 14,706 360,636

734,907Austria — 0.3%

2,250 129,220

Bermuda — 0.0%2,862 4,0753,618 9,205

13,280Brazil — 0.7%

48,600 289,5861,800 5,892

295,478Canada — 7.8%

3,114 9,2906,030 62,1045,148 6,9453,458 14,5284,068 14,3323,636 4,513

756 9,7046,444 66,6161,332 4,385

19,368 670,2362,880 11,678

16,560 174,6389,054 72,8683,186 5,919

15,642 198,9623,780 46,1861,602 15,0795,634 81,2614,698 153,6302,275 15,0303,456 24,7245,329 10,0652,628 18,9426,840 7,7511,746 3,5671,206 14,7362,304 41,5797,506 5,5552,934 23,952

Ultra Petroleum Corp.(a)

Vermilion Energy Inc.Whitecap Resources Inc.

China Coal Energy Co. Ltd., Class H

China Shenhua Energy Co. Ltd., Class H

CNOOC Ltd.Inner Mongolia Yitai Coal Co. Ltd., Class BMIE Holdings Corp.(a)

PetroChina Co. Ltd., Class HYanzhou Coal Mining Co. Ltd., Class H

Ecopetrol SA

Neste OYJ

Esso SA Francaise(a)

Etablissements Maurel et Prom(a)

TOTAL SA, NVS

Motor Oil Hellas Corinth Refineries SA


Bharat Petroleum Corp. Ltd.Gujarat Mineral Development Corp. Ltd.Reliance Industries Ltd., GDR, NVS(c)

Adaro Energy Tbk PTBukit Asam Tbk PTBumi Resources Tbk PT(a)

Delta Dunia Makmur Tbk PT(a)

Harum Energy Tbk PT(a)

Indika Energy Tbk PTIndo Tambangraya Megah Tbk PTMedco Energi Internasional Tbk PT(a)

Sugih Energy Tbk PT(a)

United Tractors Tbk PT

Jerusalem Oil Exploration(a)

Naphtha Israel Petroleum Corp. Ltd.Oil Refineries Ltd.Paz Oil Co. Ltd.


Canada (continued)

2,880$

5,126

1,926

67,481 6,894 49,903

3,221,700China — 2.4%

18,000

7,917

54,000

141,124

288,000

484,64118,000 24,06630,000 1,358

344,000 284,61536,000 51,952

995,673Colombia — 0.2%

80,838 86,492

Finland — 0.4%1,998 162,372

France — 5.6%54 3,221

1,152 7,65138,250 2,323,992

2,334,864Greece — 0.1%

1,065 21,557

Hungary — 0.2%6,516 61,337

India — 1.8%4,050 24,243

100 17227,900 739,350

763,765Indonesia — 0.4%

241,200 32,72163,000 17,229

853,500 16,21681,000 5,10114,400 3,34825,200 6,7835,400 10,036

134,266 10,823618,000 2,22427,000 68,107

172,588Isreal — 0.1%

198 10,4471,099 7,080

33,102 14,561162 22,664

54,752Italy — 1.8%



120

PrairieSky Royalty Ltd.Raging River Exploration Inc.(a)

Seven Generations Energy Ltd., Class A(a)

Spartan Energy Corp.(a)

Suncor Energy Inc.Surge Energy Inc.Tamarack Valley Energy Ltd.(a)

TORC Oil & Gas Ltd.Tourmaline Oil Corp.(b)

3,438 70,8433,474 20,6214,184 54,1223,150 16,221

25,992 1,034,7114,896 9,1342,970 9,8682,124 12,7224,122 82,173

Eni SpASaras SpA

Idemitsu Kosan Co. Ltd.Inpex Corp.

41,058 742,3898,136 18,216

760,605Japan — 1.6%

1,800 60,55516,200 181,019



iShares® MSCI Global Energy Producers ETF Schedule of Investments (unaudited) (continued)

May 31, 2018


Japan Petroleum Exploration Co. Ltd.

JXTG Holdings Inc.Showa Shell Sekiyu KK

Hengyuan Refining Co. BhdPetron Malaysia Refining & Marketing Bhd

New Zealand Refining Co. Ltd. (The)

Aker BP ASADNO ASA(a)

Equinor ASA

Oil & Gas Development Co. Ltd.Pakistan Oilfields Ltd.

Petron Corp.

Grupa Lotos SALubelski Wegiel Bogdanka SAPolski Koncern Naftowy ORLEN SA

Galp Energia SGPS SA

LUKOIL PJSCLUKOIL PJSC, ADR, NVSNovatek PJSC, GDR, NVS(d)

Rosneft Oil Co. PJSCRosneft Oil Co. PJSC, GDR, NVS(d)

Surgutneftegas OJSCSurgutneftegas OJSC, ADR, NVSTatneft PJSC


SK Innovation Co. Ltd.S-Oil Corp.

Repsol SA

Lundin Petroleum AB


Japan (continued)

100$

2,554

54,000

349,364 3,600 47,980

641,472Malaysia — 0.0%

1,800

2,958 1,800 3,663

6,621New Zealand — 0.0%

6,660 11,542

Norway — 1.4%1,746 63,801

10,260 19,94318,126 476,933

560,677Pakistan — 0.1%

14,400 20,2371,876 11,016


68,400 11,523

Poland — 0.3%1,566 23,102

134 1,9564,914 108,248

133,306Portugal — 0.4%

7,866 145,948

Russia — 2.6%5,580 376,8191,359 90,7001,458 210,0989,280 57,3688,020 48,922

61,200 28,1124,760 21,182

24,300 259,852

1,093,053South Africa — 0.1%

4,374 43,291

South Korea — 0.7%1,062 202,952

756 75,393

278,345Spain — 1.0%

21,276 404,942

Sweden — 0.2%2,988 94,596

Thailand — 0.6%

Thai Oil PCL, NVDR


BP PLC

Cairn Energy PLC(a)

EnQuest PLC(a)

Faroe Petroleum PLC(a)

Hurricane Energy PLC(a)

Nostrum Oil & Gas PLC(a)(b)

Ophir Energy PLC(a)

Premier Oil PLC(a)(b)

Royal Dutch Shell PLC, Class ARoyal Dutch Shell PLC, Class BSoco International PLCSound Energy PLC(a)(b)

Stobart Group Ltd.Tullow Oil PLC(a)(b)

Alta Mesa Resources Inc.(a)

Anadarko Petroleum Corp.AndeavorAntero Resources Corp.(a)

Apache Corp.Arch Coal Inc., Class ABonanza Creek Energy Inc.(a)

Cabot Oil & Gas Corp.California Resources Corp.(a)

Callon Petroleum Co.(a)

Carrizo Oil & Gas Inc.(a)

Centennial Resource Development Inc./DE, Class A(a)(b)

Chesapeake Energy Corp.(a)

Chevron Corp.Cimarex Energy Co.CNX Resources Corp.(a)

Concho Resources Inc.(a)(b)

ConocoPhillipsCONSOL Energy Inc.(a)(b)

Continental Resources Inc./OK(a)(b)

CVR Energy Inc.Delek U.S. Holdings Inc.Denbury Resources Inc.(a)

Devon Energy Corp.Diamondback Energy Inc.Eclipse Resources Corp.(a)

Energen Corp.(a)

EOG Resources Inc.



18,000$

51,766

230,785Turkey — 0.1%

2,070 48,403

United Kingdom — 17.4%

315,216

2,417,247

9,162

28,138

16,164

7,5506,372 12,854

21,366 12,8391,206 3,402

13,716 10,27512,330 19,67271,982 2,497,06060,066 2,139,6423,924 5,6089,288 4,6074,806 14,133

22,806 76,626

7,249,653United States — 48.5%

1,170 7,8628,496 593,0212,322 335,3663,636 69,4846,120 244,800

306 25,141252 9,269

7,398 169,044630 23,146

3,294 39,0011,314 33,1922,088 36,749

14,634 65,41430,258 3,761,0691,548 143,8402,898 46,8322,340 321,305

18,684 1,259,115324 14,275

1,476 99,394252 9,508

1,224 68,2756,552 27,8468,334 346,4441,530 184,7631,134 1,8371,404 95,2479,216 1,085,737



121

Bangchak Corp. PCL, NVDR(b)

Banpu PCL, NVDR(b)

Esso Thailand PCL, NVDRIRPC PCL, NVDRPTT Exploration & Production PCL, NVDR

9,000 10,19937,800 24,81419,800 9,098

176,400 36,39423,431 98,514

EQT Corp.Extraction Oil & Gas Inc.(a)(b)

Exxon Mobil Corp.Gran Tierra Energy Inc.(a)(b)

Gulfport Energy Corp.(a)(b)

Halcon Resources Corp.(a)

Hess Corp.HighPoint Resources Corp.(a)

HollyFrontier Corp.Jagged Peak Energy Inc.(a)(b)

4,212 217,0861,602 27,170

67,284 5,466,1525,814 19,0122,736 30,3971,998 9,6704,482 270,8021,440 10,2822,610 201,440

864 10,411




May 31, 2018



Kosmos Energy Ltd.(a)

Laredo Petroleum Inc.(a)

Marathon Oil Corp.

Marathon Petroleum Corp.

Matador Resources Co.(a)

Midstates Petroleum Co. Inc.(a)

Murphy Oil Corp.

Newfield Exploration Co.(a)

Noble Energy Inc.Oasis Petroleum Inc.(a)

Occidental Petroleum Corp.Par Pacific Holdings Inc.(a)

Parsley Energy Inc., Class A(a)

PBF Energy Inc., Class APDC Energy Inc.(a)

Peabody Energy Corp.Penn Virginia Corp.(a)

Pioneer Natural Resources Co.QEP Resources Inc.(a)

Range Resources Corp.Resolute Energy Corp.(a)

Ring Energy Inc.(a)(b)

RSP Permian Inc.(a)(b)

SandRidge Energy Inc.(a)

SM Energy Co.Southwestern Energy Co.(a)

SRC Energy Inc.(a)

Talos Energy Inc.(a)

Tellurian Inc.(a)(b)

Valero Energy Corp.W&T Offshore Inc.(a)

Whiting Petroleum Corp.(a)

WildHorse Resource Development Corp.(a)

WPX Energy Inc.(a)




3,600$

27,972

2,556

23,720

13,428

287,762

7,524

594,622

1,476

41,431

198

2,610

2,736

84,132

3,294

96,3177,704 275,0334,392 57,228

12,222 1,029,092306 5,450

3,744 110,3731,674 78,9791,044 63,1521,332 57,636

162 11,1722,718 524,8463,726 45,0473,942 62,441

270 9,628864 11,932

2,250 98,415504 7,328

1,674 43,8599,432 44,6133,492 45,186

288 9,2511,224 13,6976,858 831,1901,458 9,9871,416 74,227

306 8,2196,426 117,017

20,182,962

40,976,962

Petroleo Brasileiro SA, Preference Shares, NVS

Surgutneftegas OJSC, Preference Shares, NVSTotal Preferred Stocks — 0.9%(Cost: $270,942)

BlackRock Cash Funds: Institutional, SL Agency Shares,1.98%(e)(f)(g)






Preferred StocksBrazil — 0.8%

61,200 $ 311,912

Russia — 0.1%124,200 60,738

372,650


762,881 763,033

34,093 34,093

797,126

797,126

42,146,738

(561,780)

$ 41,584,958

(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


(d) This security may be resold to qualified foreign investors and foreign institutionalbuyers under Regulation S of the Securities Act of 1933.


loaned securities.




Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



656,714 106,167 762,881 $763,033

$6,352(a)

$(105)

$37

25,717 8,376 34,093 34,093 328 — —

$797,126

$ 6,680

$(105)

$37



122



Common Stocks

Preferred Stocks

Money Market Funds

ADRGDRNVDRNVS


May 31, 2018




Investments

Assets

$40,976,962

$ —

$ —

$40,976,962

372,650

—

—

372,650

797,126

—

—

797,126

$42,146,738

$ —

$ —

$42,146,738




123




iShares® MSCI Global Gold Miners ETF Schedule of Investments (unaudited)

May 31, 2018



Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



5,122,703 5,336,674 10,459,377 $10,461,469

$41,633(a)

$(1,683)

$479

Newcrest Mining Ltd.

Resolute Mining Ltd.

St. Barbara Ltd.Westgold Resources Ltd.(a)(b)

Agnico Eagle Mines Ltd.Alacer Gold Corp.(a)

Alamos Gold Inc., Class ABarrick Gold Corp.Centerra Gold Inc.(a)

China Gold International Resources Corp. Ltd.(a)

Detour Gold Corp.(a)

Eldorado Gold Corp.(a)

Endeavour Mining Corp.(a)(b)

Goldcorp Inc.Guyana Goldfields Inc.(a)(b)

IAMGOLD Corp.(a)

Kinross Gold Corp.(a)

Kirkland Lake Gold Ltd.New Gold Inc.(a)(b)

Premier Gold Mines Ltd.(a)

SEMAFO Inc.(a)

SSR Mining Inc.(a)

Tahoe Resources Inc.(b)

Torex Gold Resources Inc.(a)

Yamana Gold Inc.


AngloGold Ashanti Ltd.Gold Fields Ltd.Harmony Gold Mining Co. Ltd.Sibanye Gold Ltd.(a)



1,845,643$

28,991,460

2,581,006

2,421,618

1,840,815

6,657,836 1,769,643 2,262,911

40,333,825Canada — 52.7%

345,727

15,508,6761,608,534 2,951,2111,353,182 7,479,4292,873,113 37,807,616

864,981 4,540,9501,483,724 2,928,102

389,290 3,076,0272,689,441 3,047,701

226,270 3,922,9202,076,084 29,656,057

611,161 2,303,8681,509,739 9,427,1403,568,554 12,874,524

590,069 10,844,3152,134,423 4,952,677

538,303 1,120,4271,436,348 3,908,656

379,514 3,882,324936,004 4,899,373166,712 1,627,023

3,109,573 9,037,226

175,796,242Peru — 2.7%

578,713 8,952,690

South Africa — 7.9%1,176,359 10,029,4712,646,742 9,441,7531,806,473 3,016,7316,213,819 3,871,065

26,359,020

Koza Altin Isletmeleri AS(a)

Acacia Mining PLC(a)

Centamin PLCRandgold Resources Ltd.

McEwen Mining Inc.(b)

Newmont Mining Corp.


BlackRock Cash Funds: Institutional, SL AgencyShares, 1.98%(c)(d)(e)

BlackRock Cash Funds: Treasury, SL Agency Shares,1.64%(c)(d)





Turkey — 0.9% 281,526 $ 2,964,509

United Kingdom — 6.8% 438,509 753,301 3,739,166 6,410,963 193,905 15,398,624

22,562,888United States — 16.7%

1,437,286 3,233,8931,344,592 52,344,967

55,578,860


10,459,377 10,461,469

255,797 255,797

10,717,266

10,717,266

343,265,300(10,070,361)

$ 333,194,939

(a) Non-income producing security.(b) All or a portion of this security is on loan.(c) Affiliate of the Fund.(d) Annualized 7-day yield as of period-end.(e) All or a portion of this security was purchased with cash collateral received from

loaned securities.



BlackRock Cash Funds: Treasury, SL Agency Shares 27,472 228,325 255,797 255,797 1,544 — —

$10,717,266

$43,177

$(1,683)

$479


124



Common Stocks

Money Market Funds

ADRNVS

iShares® MSCI Global Gold Miners ETF Schedule of Investments (unaudited) (continued)

May 31, 2018





Investments

Assets

$332,548,034

$ —

$ —

$332,548,034

10,717,266

—

—

10,717,266

$343,265,300

$ —

$ —

$343,265,300

Portfolio Abbreviations - EquityAmerican Depositary ReceiptNon-Voting Shares



125



iShares® MSCI Global Metals & Mining Producers ETF Schedule of Investments (unaudited)

May 31, 2018


Altura Mining Ltd.(a)

Alumina Ltd.

Ausdrill Ltd.

BHP Billiton Ltd.

BlueScope Steel Ltd.

Fortescue Metals Group Ltd.

Galaxy Resources Ltd.(a)(b)

Iluka Resources Ltd.Independence Group NL(b)

Jacana Minerals Ltd.(a)(b)(c)

Kidman Resources Ltd.(a)

Lynas Corp. Ltd.(a)

Mineral Resources Ltd.Orocobre Ltd.(a)(b)

OZ Minerals Ltd.Pilbara Minerals Ltd.(a)(b)

Rio Tinto Ltd.Sandfire Resources NLSims Metal Management Ltd.South32 Ltd.Syrah Resources Ltd.(a)(b)

Western Areas Ltd.

Voestalpine AG

Bekaert SANyrstar NV(a)(b)

Petra Diamonds Ltd.(a)(b)

Cia. Siderurgica Nacional SA(a)

Vale SA

Altius Minerals Corp.Arizona Mining Inc.(a)

First Quantum Minerals Ltd.HudBay Minerals Inc.Ivanhoe Mines Ltd., Class A(a)

Labrador Iron Ore Royalty Corp.Lithium Americas Corp.(a)(b)

Lucara Diamond Corp.Lundin Mining Corp.Major Drilling Group International Inc.(a)

Mountain Province Diamonds Inc.(a)



742,045$

207,743

1,836,680

3,724,460

262,800

503,085

2,382,720

59,116,603

412,450

5,423,956

1,066,895

3,786,078

285,615

754,226320,470 2,715,817375,220 1,374,125

6,808 —235,425 400,802442,015 809,371120,450 1,684,239162,425 696,837228,125 1,698,490

1,069,450 744,463306,235 19,225,204127,385 837,593124,465 1,502,114

3,845,275 10,823,442225,570 537,634215,350 550,753

117,117,035Austria — 0.7%

83,585 4,484,260

Belgium — 0.2%26,645 995,28765,700 379,930

1,375,217Bermuda — 0.0%

376,315 310,211

Brazil — 5.2%474,500 981,096

2,336,062 31,759,729

32,740,825Canada — 4.8%

33,580 365,000143,080 455,535511,365 8,022,108195,640 1,256,307407,340 1,026,82842,705 789,44337,960 201,037

217,905 344,361482,530 3,024,18268,620 386,159

100,010 254,420

CAP SA

Aluminum Corp. of China Ltd., Class H(a)(b)

Angang Steel Co. Ltd., Class A

Angang Steel Co. Ltd., Class H

Baoshan Iron & Steel Co. Ltd., Class A

Chiho Environmental Group Ltd.(a)(b)

China Metal Recycling Holdings Ltd., NVS(a)(c)

China Molybdenum Co. Ltd., Class HChina Northern Rare Earth Group High-Tech Co. Ltd.,Class AChina Zhongwang Holdings Ltd.Inner Mongolia BaoTou Steel Union Co. Ltd., ClassA(a)

Inner Mongolia Eerduosi Resourses Co. Ltd., Class BJiangxi Copper Co. Ltd., Class HJinchuan Group International Resources Co. Ltd.(a)

Jinduicheng Molybdenum Co. Ltd., Class A(a)

MMG Ltd.(a)

North Mining Shares Co. Ltd.(a)

Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd., ClassAShougang Concord International Enterprises Co. Ltd.(a)(b)

Shougang Fushan Resources Group Ltd.Tiangong International Co. Ltd.Tongling Nonferrous Metals Group Co. Ltd., Class A(a)

Xinjiang Xinxin Mining Industry Co. Ltd., Class H(a)

Ezz Steel(a)

Outokumpu OYJ

APERAM SAEramet, NVS

Aurubis AGSalzgitter AGthyssenkrupp AG

Hindalco Industries Ltd.Jindal Stainless Ltd.(a)

Tata Steel Ltd., GDR(b)(d)

Aneka Tambang Persero Tbk PT


Chile — 0.1%

52,925$

550,821

China — 1.6%

2,920,000

1,537,400

58,269

55,127

730,000

724,030

72,999

95,958

730,000

306,177

132,000

—3,330,000 2,109,865

36,500 68,8921,112,800 602,921

474,498 126,672255,596 262,753

1,095,000 1,591,3771,095,000 201,016

73,000 76,1291,466,000 1,065,278

10,950,000 177,285

73,000 67,012

8,842,000 253,6221,460,000 366,668

730,000 153,554182,500 71,798730,000 114,467

10,028,001Egypt — 0.0%

168,995 243,836

Finland — 0.2%221,555 1,395,519

France — 0.5%36,135 1,672,0306,935 1,215,093

2,887,123Germany — 1.9%

29,200 2,366,87328,105 1,435,632

322,295 8,491,170

12,293,675India — 1.0%

314,640 1,091,967100 126

658,977 5,588,125

6,680,218Indonesia — 0.1%

6,825,538 424,907



126

Nemaska Lithium Inc.(a)(b)

Nevsun Resources Ltd.Stelco Holdings Inc.Stornoway Diamond Corp.(a)(b)

Teck Resources Ltd., Class BTrevali Mining Corp.(a)

Turquoise Hill Resources Ltd.(a)

262,070 210,109229,585 730,94818,250 337,650

354,160 132,414380,330 10,311,599438,365 358,208734,015 2,065,337

30,271,645

Krakatau Steel Persero Tbk PT(a)

Pelat Timah Nusantara Tbk PT(a)

Timah Tbk PT

Asahi Holdings Inc.Daido Steel Co. Ltd.Dowa Holdings Co. Ltd.Hitachi Metals Ltd.JFE Holdings Inc.Kobe Steel Ltd.

2,226,553 69,224333,100 115,069

2,555,067 172,851

782,051Japan — 7.3%

36,500 672,92119,000 895,39340,200 1,274,693

146,000 1,609,904365,000 7,565,742219,000 2,203,203



iShares® MSCI Global Metals & Mining Producers ETF Schedule of Investments (unaudited) (continued)

May 31, 2018


Kyoei Steel Ltd.(b)

Maruichi Steel Tube Ltd.

Mitsubishi Materials Corp.

Mitsui Mining & Smelting Co. Ltd.

Nakayama Steel Works Ltd.

Neturen Co. Ltd.

Nippon Denko Co. Ltd.

Nippon Light Metal Holdings Co. Ltd.Nippon Steel & Sumitomo Metal Corp.Nisshin Steel Co. Ltd.OSAKA Titanium Technologies Co. Ltd.Sumitomo Metal Mining Co. Ltd.Toho Titanium Co. Ltd.Tokyo Steel Manufacturing Co. Ltd.Toyo Kohan Co. Ltd.UACJ Corp.Yamato Kogyo Co. Ltd.Yodogawa Steel Works Ltd.

Press Metal Aluminium Holdings Bhd

Grupo Mexico SAB de CV, Class BIndustrias CH SAB de CV, Series B(a)

Minera Frisco SAB de CV, Series A1(a)

AMG Advanced Metallurgical Group NVArcelorMittalConstellium NV, Class A(a)

Norsk Hydro ASA

International Steels Ltd.

Southern Copper Corp.

Nickel Asia Corp.

Boryszew SA(a)


KGHM Polska Miedz SAStalprodukt SA


Japan (continued)

36,500$

698,454

47,000

1,559,529

79,100

2,202,379

42,600

1,870,330

36,500

230,130

36,500

332,933

73,000

219,715

474,500

1,109,328547,540 11,503,15336,500 535,8511,800 31,528

182,500 6,997,97536,500 388,702

109,500 891,96536,500 240,54536,538 833,03136,500 1,138,89336,500 939,334

45,945,631Malaysia — 0.2%

1,022,000 1,214,588

Mexico — 1.1%2,628,000 6,502,896

109,500 474,8818,822 3,311

6,981,088Netherlands — 2.9%

22,995 1,320,629489,465 15,826,46091,250 1,108,688

18,255,777Norway — 1.0%

1,000,830 6,279,535

Pakistan — 0.0%73,000 70,471

Peru — 0.5%67,160 3,283,452

Philippines — 0.0%1,031,000 96,554

Poland — 0.6%74,095 164,22239,055 880,591

105,485 2,415,4851,095 136,144

3,596,442

African Rainbow Minerals Ltd.

Anglo American Platinum Ltd.

Impala Platinum Holdings Ltd.(a)

Kumba Iron Ore Ltd.

Northam Platinum Ltd.(a)

Royal Bafokeng Platinum Ltd.(a)

Dongkuk Steel Mill Co. Ltd.Hyundai Steel Co.Jenax Inc.(a)

KISCO Corp.KISWIRE Ltd.(b)

Korea Zinc Co. Ltd.Poongsan Corp.Poongsan Holdings Corp.POSCOSeah Besteel Corp.SeAH Steel Corp.Young Poong Corp.

Acerinox SATubacex SA(a)(b)

Boliden ABGranges ABSSAB AB, Class ASSAB AB, Class B

Schmolz + Bickenbach AG(a)

China Metal ProductsChina Steel Corp.Chung Hung Steel Corp.(a)

Feng Hsin Steel Co. Ltd.Gloria Material Technology Corp.TA Chen Stainless PipeTon Yi Industrial Corp.Tung Ho Steel Enterprise Corp.Yieh Phui Enterprise Co. Ltd.

Borusan Mannesmann Boru Sanayi ve Ticaret AS(b)

Eregli Demir ve Celik Fabrikalari TAS


South Africa — 0.7%

81,760$

709,211

40,515

1,074,823

497,130

795,251

45,990

1,053,685

268,825

743,540 60,590 102,140

4,478,650South Korea — 4.2%

41,610 389,87159,130 3,389,98511,315 145,38017,155 135,5914,015 111,7406,570 2,471,483

14,965 499,0886,570 292,555

58,035 18,278,1045,635 122,3242,289 190,901

365 272,916

26,299,938Spain — 0.3%

120,085 1,614,81879,935 271,993

1,886,811Sweden — 1.7%

208,415 7,335,59860,955 786,120

164,615 887,967400,040 1,708,562

10,718,247Switzerland — 0.0%

279,590 219,554

Taiwan — 1.6%365,011 362,434

9,125,612 7,188,040730,000 278,975365,000 716,319365,000 233,291425,353 461,391365,000 156,543730,000 585,969754,706 255,670

10,238,632Turkey — 0.6%

23,816 47,9741,037,787 2,568,479



127

Alrosa PJSCMagnitogorsk Iron & Steel Works PJSCMechel PJSC, ADR, NVS(a)

MMC Norilsk Nickel PJSCNovolipetsk Steel PJSCRaspadskaya OAO(a)

Severstal PJSC

Russia — 2.8%1,943,625 2,753,5531,569,500 1,236,160

62,780 217,21947,450 8,458,818

886,950 2,321,702105,850 165,583153,300 2,466,475

17,619,510

Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS,Class A(a)

Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS,Class D(a)

Koza Anadolu Metal Madencilik Isletmeleri AS(a)

Anglo American PLCAntofagasta PLCBHP Billiton PLCCentral Asia Metals PLC

19,710 15,768

613,930 644,042153,665 286,167


783,290 18,731,954294,190 4,127,989

1,569,500 36,109,410131,400 500,064




May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



Evraz PLC

Ferrexpo PLC

Glencore PLC

Hill & Smith Holdings PLC

KAZ Minerals PLC(a)

Rio Tinto PLC

Vedanta Ltd., ADR, NVSVedanta Resources PLC

AK Steel Holding Corp.(a)

Alcoa Corp.(a)

Allegheny Technologies Inc.(a)(b)

Carpenter Technology Corp.(b)

Century Aluminum Co.(a)

Cleveland-Cliffs Inc.(a)(b)

Commercial Metals Co.Compass Minerals International Inc.Freeport-McMoRan Inc.Haynes International Inc.Kaiser Aluminum Corp.Materion Corp.Nucor Corp.Reliance Steel & Aluminum Co.Ryerson Holding Corp.(a)

Schnitzer Steel Industries Inc., Class ASteel Dynamics Inc.SunCoke Energy Inc.(a)

TimkenSteel Corp.(a)

U.S. Steel Corp.Warrior Met Coal Inc.Worthington Industries Inc.



United Kingdom (continued)

265,355$

1,803,608

217,175

633,453

8,559,980

42,377,774

59,495

1,114,672

186,150

2,509,207

891,695

50,309,068

452,515

6,651,971 57,670 543,463

165,412,633United States — 12.1%

231,775 1,047,623138,335 6,649,76392,710 2,644,08935,040 2,100,29838,690 685,587

208,050 1,760,10386,140 2,036,35025,550 1,670,970

1,019,810 17,234,7899,125 388,543

13,870 1,529,30616,790 915,894

235,060 15,088,50153,655 5,020,49811,680 144,24818,980 591,227

176,660 8,732,30443,800 593,05225,915 454,290

130,305 4,804,34529,200 793,36433,945 1,627,663

76,512,807

623,833,187

Bradespar SA, Preference Shares, NVSGerdau SA, Preference Shares, NVSMetalurgica Gerdau SA, Preference Shares, NVS








Preferred StocksBrazil — 0.9%

182,500 $ 1,526,530 766,500 3,046,200 474,500 867,696

5,440,426


7,518,687 7,520,191

577,766 577,766

8,097,957

8,097,957

637,371,570(5,021,235)

$ 632,350,335


3 in the fair value hierarchy.(d) This security may be resold to qualified foreign investors and foreign institutional

buyers under Regulation S of the Securities Act of 1933.(e) Affiliate of the Fund.(f) Annualized 7-day yield as of period-end.(g) All or a portion of this security was purchased with cash collateral received from

loaned securities.




10,837,677 (3,318,990) 7,518,687 $7,520,191

$205,113(a)

$(1,288)

$(62)

1,803,747 (1,225,981) 577,766 577,766 4,551 — —

$8,097,957

$209,664

$(1,288)

$(62)



128



Common Stocks

Preferred Stocks

Money Market Funds

ADRGDRNVS


May 31, 2018




Investments

Assets

$623,833,187

$

—

$ 0

(a)

$623,833,187

5,440,426

—

—

5,440,426

8,097,957

—

—

8,097,957

$637,371,570

$

—

$ 0

(a)

$637,371,570

(a) Rounds to less than $1.




129




iShares® MSCI Global Silver Miners ETF Schedule of Investments (unaudited)

May 31, 2018



Affiliated Issuer


NetActivity


Value at 05/31/18

Income



7,553,574 610,585 8,164,159 $8,165,792

$126,573(a)

$373

$(267)

Alexco Resource Corp.(a)(b)

Americas Silver Corp.(a)(b)

Dalradian Resources Inc.(a)(b)

Dundee Precious Metals Inc.(a)

Endeavour Silver Corp.(a)(b)

Excellon Resources Inc.(a)(b)

First Majestic Silver Corp.(a)(b)

Fortuna Silver Mines Inc.(a)

GoGold Resources Inc.(a)(b)

Great Panther Silver Ltd.(a)(b)

Klondex Mines Ltd.(a)(b)

Levon Resources Ltd.(a)

Lundin Gold Inc.(a)

MAG Silver Corp.(a)(b)

Mandalay Resources Corp.Minco Silver Corp.(a)(b)

Pan American Silver Corp.Seabridge Gold Inc.(a)

Silvercorp Metals Inc.(b)

SSR Mining Inc.(a)

Tahoe Resources Inc.(b)

Wheaton Precious Metals Corp.

China Silver Group Ltd.(b)

Asahi Holdings Inc.

Industrias Penoles SAB de CV


Fresnillo PLC


Common StocksCanada — 60.3%

20,093$

26,642

174,210

609,708

832,674

609,806

428,017

1,121,845

368,193

1,030,327

366,362

401,044

376,809

2,669,500370,691 2,048,917

1,042,676 369,743547,288 683,477502,576 1,224,283

1,293,514 219,37591,236 358,698

164,291 1,913,6891,965,923 310,680

573,235 313,750165,786 2,929,24473,408 821,115

433,059 1,265,259261,735 2,677,477605,452 3,169,148673,393 14,711,654

39,485,381China — 0.9%

3,184,000 612,921

Japan — 1.9%65,400 1,205,727

Mexico — 6.0%231,546 3,897,744

Peru — 6.4%271,970 4,207,376

United Kingdom — 12.9%381,798 6,749,308

Hochschild Mining PLC

Coeur Mining Inc.(a)

Golden Minerals Co.(a)(b)

Hecla Mining Co.McEwen Mining Inc.(b)


BlackRock Cash Funds: Institutional, SL Agency Shares,1.98%(c)(d)(e)






United Kingdom (continued) 581,055 $ 1,675,484

8,424,792United States — 11.2%

350,031 2,821,250 729,590 284,905 730,821 2,747,887 659,219 1,483,243

7,337,285


8,164,159 8,165,792

37,654 37,654

8,203,446

8,203,446

73,374,672(7,907,472)

$ 65,467,200


loaned securities.



BlackRock Cash Funds: Treasury, SL Agency Shares 37,449 205 37,654 37,654 332 — —

$8,203,446

$126,905

$373

$(267)




130



Common Stocks

Money Market Funds

ADRNVS

iShares® MSCI Global Silver Miners ETF Schedule of Investments (unaudited) (continued)

May 31, 2018




Investments

Assets

$65,171,226

$ —

$ —

$65,171,226

8,203,446

—

—

8,203,446

$73,374,672

$ —

$ —

$73,374,672




131



iShares® MSCI Hong Kong ETFSchedule of Investments (unaudited)

May 31, 2018


Minth Group Ltd.(a)

Bank of East Asia Ltd. (The)(a)

BOC Hong Kong Holdings Ltd.Hang Seng Bank Ltd.

Hong Kong Exchanges & Clearing Ltd.

HKT Trust & HKT Ltd.PCCW Ltd.

CK Infrastructure Holdings Ltd.CLP Holdings Ltd.HK Electric Investments & HK Electric InvestmentsLtd.(a)(b)

Power Assets Holdings Ltd.

Link REIT

Dairy Farm International Holdings Ltd.

WH Group Ltd.(b)

Hong Kong & China Gas Co. Ltd.

Galaxy Entertainment Group Ltd.Melco Resorts & Entertainment Ltd., ADRMGM China Holdings Ltd.Sands China Ltd.Shangri-La Asia Ltd.SJM Holdings Ltd.Wynn Macau Ltd.

Techtronic Industries Co. Ltd.

CK Hutchison Holdings Ltd.Jardine Matheson Holdings Ltd.Jardine Strategic Holdings Ltd.NWS Holdings Ltd.

AIA Group Ltd.


Common StocksAuto Components — 0.6%

3,816,000$

17,561,826

Banks — 7.9%

6,521,010

27,059,513

19,038,500

95,748,912 3,930,400 98,358,333


5,724,900 185,230,984

Diversified Telecommunication Services — 1.3%19,269,500 24,196,95921,681,169 12,769,644


3,365,000 25,395,7418,349,200 87,705,370

13,104,500 12,663,2097,067,000 49,145,522


11,099,000 98,196,822

Food & Staples Retailing — 0.5%1,683,900 14,431,023

Food Products — 1.7%45,132,000 46,316,376

Gas Utilities — 3.3%42,902,802 92,761,041

Hotels, Restaurants & Leisure — 10.5%12,173,000 107,155,7341,271,016 41,511,3834,934,688 14,343,286

12,388,400 74,148,9366,518,000 13,029,103

10,233,000 14,689,1108,039,600 30,849,991


7,094,647 42,554,406

Industrial Conglomerates — 10.0%13,857,767 156,435,7221,109,400 69,270,9361,149,100 41,137,7807,991,000 14,873,326

281,717,764Insurance — 20.1%

61,743,400 566,731,233

CK Asset Holdings Ltd.Hang Lung Group Ltd.Hang Lung Properties Ltd.Henderson Land Development Co. Ltd.Hongkong Land Holdings Ltd.Hysan Development Co. Ltd.Kerry Properties Ltd.New World Development Co. Ltd.Sino Land Co. Ltd.Sun Hung Kai Properties Ltd.Swire Pacific Ltd., Class ASwire Properties Ltd.Wharf Holdings Ltd. (The)Wharf Real Estate Investment Co. Ltd.Wheelock & Co. Ltd.

MTR Corp. Ltd.

ASM Pacific Technology Ltd.

Li & Fung Ltd.(a)

Yue Yuen Industrial Holdings Ltd.



BlackRock Cash Funds: Treasury, SL AgencyShares, 1.64%(c)(d)





Real Estate Management & Development — 22.3%

13,302,767$

111,080,390 4,558,000 14,120,00010,464,000 23,744,982 6,229,862 40,980,970 6,036,100 43,822,086 3,235,000 18,702,759 3,389,000 18,124,15031,297,066 48,037,92316,644,000 28,814,5338,170,000 131,859,0292,530,000 26,092,9486,077,800 23,825,6986,310,150 20,392,5606,243,150 48,191,6764,243,357 31,970,628

629,760,332Road & Rail — 1.5%

7,710,583 43,398,232

Semiconductors & Semiconductor Equipment — 0.7%1,581,200 20,762,428

Textiles, Apparel & Luxury Goods — 0.9%30,448,000 11,838,9373,828,500 11,835,715

23,674,652


27,052,006 27,057,416

2,063,234 2,063,234

29,120,650

29,120,650

2,820,988,515

(1,899,865)

$ 2,819,088,650

(a) All or a portion of this security is on loan.(b) Security exempt from registration pursuant to Rule 144A under the Securities Act


(c) Affiliate of the Fund.(d) Annualized 7-day yield as of period-end.(e) All or a portion of this security was purchased with cash collateral received from

loaned securities.



132




Hang Seng Index

Common Stocks

Money Market Funds

Futures Contracts

ADR

iShares® MSCI Hong Kong ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates


Affiliated Issuer



Value at 05/31/18

Income

Net



33,422,824 (6,370,818) 27,052,006 $27,057,416

$516,331(a)

$(846)

$(602)

109,004 1,954,230 2,063,234 2,063,234

31,981

—

—

$29,120,650

$548,312

$(846)

$(602)



Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$26,826 $ (51,779)




Investments

Assets

$2,791,867,865

$ —

$ —

$2,791,867,865

29,120,650

—

—

29,120,650

$2,820,988,515

$ —

$ —

$2,820,988,515


Liabilities

$ (51,779)

$ —

$ —

$ (51,779)


Portfolio Abbreviations - EquityAmerican Depositary Receipt



133



iShares® MSCI Israel ETFSchedule of Investments (unaudited)

May 31, 2018


Elbit Systems Ltd.

Bank Hapoalim BM

Bank Leumi Le-Israel BM

First International Bank of Israel Ltd.

Israel Discount Bank Ltd., Class AMizrahi Tefahot Bank Ltd.

UroGen Pharma Ltd.(a)

Caesarstone Ltd.(b)

Frutarom Industries Ltd.Israel Chemicals Ltd.Israel Corp. Ltd. (The)

Ituran Location and Control Ltd.Radware Ltd.(a)

Elco Holdings Ltd.Electra Ltd./IsraelShapir Engineering and Industry Ltd.Shikun & Binui Ltd.

B Communications Ltd.(a)

Bezeq The Israeli Telecommunication Corp. Ltd.

Orbotech Ltd.(a)

REIT 1 Ltd.

Rami Levy Chain Stores Hashikma Marketing 2006Ltd.Shufersal Ltd.

Strauss Group Ltd.

Mazor Robotics Ltd.(a)

SodaStream International Ltd.(a)

Kenon Holdings Ltd./Singapore



22,958$

2,754,780

Banks — 20.6%

941,412

6,495,318

1,286,487

8,017,776

45,815

1,010,733

1,097,645

3,308,105 137,053 2,617,413


1,830 110,020

Building Products — 0.4%24,240 379,356

Chemicals — 6.8%36,861 3,606,630

571,236 2,647,2653,814 782,710


18,925 624,52543,817 1,022,251


5,402 108,8312,167 565,003

115,360 365,463235,019 394,674


17,961 181,2772,020,804 2,470,129


44,702 2,862,716

Equity Real Estate Investment Trusts (REITs) — 0.7%181,605 757,091

Food & Staples Retailing — 0.9%

7,864 391,33782,306 545,722

937,059Food Products — 1.0%

47,559 1,013,207

Health Care Equipment & Supplies — 0.8%29,213 877,971

Household Durables — 1.2%14,400 1,198,944

Independent Power and Renewable Electricity Producers — 0.3%22,556 359,186

Menora Mivtachim Holdings Ltd.

Migdal Insurance & Financial Holding Ltd.(a)

Phoenix Holdings Ltd. (The)(a)

Wix.com Ltd.(a)(b)

Formula Systems 1985 Ltd.Matrix IT Ltd.

Kornit Digital Ltd.(a)(b)

Delek Group Ltd.Jerusalem Oil Exploration(a)

Naphtha Israel Petroleum Corp. Ltd.Oil Refineries Ltd.Paz Oil Co. Ltd.

Teva Pharmaceutical Industries Ltd., ADR, NVS

Africa Israel Properties Ltd.(a)

Airport City Ltd.(a)

Alony Hetz Properties & Investments Ltd.Amot Investments Ltd.Azrieli Group Ltd.Bayside Land Corp.Big Shopping Centers Ltd.Blue Square Real Estate Ltd.Brack Capital Properties NV(a)

Gazit-Globe Ltd.Industrial Buildings Corp. Ltd.(a)

Jerusalem Economy Ltd.(a)

Melisron Ltd.Norstar Holdings Inc.Summit Real Estate Holdings Ltd.

Nova Measuring Instruments Ltd.(a)

Tower Semiconductor Ltd.(a)

Check Point Software Technologies Ltd.(a)(b)

CyberArk Software Ltd.(a)

Nice Ltd.(a)

Sapiens International Corp. NV(b)

Delek Automotive Systems Ltd.


Insurance (continued)

32,443$

383,833

447,148

436,380 82,224 463,343


31,046 2,699,450

IT Services — 0.6%

4,682

174,71041,652 486,946

661,656Machinery — 0.5%

31,339 537,464

Oil, Gas & Consumable Fuels — 3.1%4,523 684,239

10,029 529,18147,001 302,936

1,539,024 676,9827,333 1,025,868

3,219,206Pharmaceuticals — 17.2%

833,662 17,923,733

Real Estate Management & Development — 8.1%16,809 394,21383,354 984,056

108,655 1,004,638136,907 710,07941,819 2,037,663

895 408,9972,576 174,8444,009 146,675

983 110,760102,556 989,07381,701 105,36475,200 179,22418,815 802,82316,585 303,53212,033 111,562


9,901 297,01185,690 2,253,436

2,550,447Software — 17.2%

118,207 11,508,63423,480 1,428,75844,069 4,622,00032,728 302,515


48,545 304,452

Textiles, Apparel & Luxury Goods — 0.4%



134

Clal Insurance Enterprises Holdings Ltd.(a)

Harel Insurance Investments & Financial Services Ltd.IDI Insurance Co. Ltd.

Insurance — 2.9%24,818 389,849

117,890 896,0167,916 489,132

Delta-Galil Industries Ltd.(b)

Cellcom Israel Ltd.(a)(b)

11,743 380,251

Wireless Telecommunication Services — 0.9%64,191 449,908




Common Stocks

Money Market Funds

iShares® MSCI Israel ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



15,525,641 (1,416,698) 14,108,943$

14,111,765

$40,227(a)

$(3,032)

$713

40,997 (19,449) 21,548 21,548 356 — —

$14,133,313

$40,583

$(3,032)

$713





Investments

Assets

$104,076,748

$ —

$ —

$104,076,748

14,133,313

—

—

14,133,313

Partner Communications Co. Ltd.(a)








Wireless Telecommunication Services (continued) 125,392 $ 497,785

947,693


14,108,943

14,111,765

21,548 21,548

14,133,313

14,133,313

118,210,061(14,072,180)

$ 104,137,881


loaned securities.



ADRNVS

$

118,210,061

$ —

$ —

$118,210,061


135



iShares® MSCI Italy ETFSchedule of Investments (unaudited)

May 31, 2018


Leonardo SpA

Pirelli & C SpA(a)(b)

Ferrari NV(c)

Fiat Chrysler Automobiles NV(b)

Intesa Sanpaolo SpAMediobanca Banca di Credito Finanziario SpAUniCredit SpA

Davide Campari-Milano SpA, NVS

EXOR NV(c)

Telecom Italia SpA/Milano(b)(c)

Enel SpATerna Rete Elettrica Nazionale SpA

Prysmian SpA

Tenaris SA

Assicurazioni Generali SpAPoste Italiane SpA(a)

CNH Industrial NV

Eni SpASnam SpA

Recordati SpA(c)



752,209$

7,660,137

Auto Components — 0.8% 456,453 3,899,158

Automobiles — 9.3%

163,760

21,314,006 985,338 22,313,585

43,627,591Banks — 21.6%

16,946,170 49,739,9781,051,191 9,899,8792,498,993 41,229,922

100,869,779Beverages — 1.7%

1,068,596 7,970,706





355,538 9,877,462

Energy Equipment & Services — 2.9%750,915 13,454,933

Insurance — 6.3%1,241,407 21,084,319

950,188 8,123,445

29,207,764Machinery — 3.9%

1,547,149 18,095,986

Oil, Gas & Consumable Fuels — 15.6%3,214,578 58,124,3053,565,661 14,600,980


199,002 7,363,751

Luxottica Group SpAMoncler SpA

Atlantia SpATotal Common Stocks — 97.6%(Cost: $507,704,320)

Intesa Sanpaolo SpA, Preference Shares, NVS

Telecom Italia SpA/Milano, Preference Shares, NVSTotal Preferred Stocks — 2.3%(Cost: $12,830,782)







Textiles, Apparel & Luxury Goods — 5.6% 261,476 $ 16,262,168 217,290 9,960,543

26,222,711Transportation Infrastructure — 4.3%

689,680 19,957,519

455,610,488Preferred StocksBanks — 0.8%

1,245,321 3,743,182


10,671,117


25,989,243 25,994,441

430,912 430,912

26,425,353

26,425,353

492,706,958(25,908,136)

$ 466,798,822


(b) Non-income producing security.(c) All or a portion of this security is on loan.(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 cash collateral received from

loaned securities.



136




FTSE/MIB Index

Common Stocks

Preferred Stocks

Money Market Funds

Futures Contracts

NVS

iShares® MSCI Italy ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates


Affiliated Issuer



Value at 05/31/18

Income



— 25,989,243 25,989,243 $25,994,441

$22,990(a)

$2,841

$2,660

998,621 (567,709) 430,912 430,912 3,035 — —

$26,425,353

$26,025

$2,841

$2,660



Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$635 $ (37,020)




Investments

Assets

$455,610,488

$ —

$ —

$455,610,488

10,671,117

—

—

10,671,117

26,425,353

—

—

26,425,353

$492,706,958

$ —

$ —

$492,706,958


Liabilities

$ (37,020)

$ —

$ —

$ (37,020)





137



iShares® MSCI Japan ETFSchedule of Investments (unaudited)

May 31, 2018


SG Holdings Co. Ltd.Yamato Holdings Co. Ltd.

ANA Holdings Inc.Japan Airlines Co. Ltd.

Aisin Seiki Co. Ltd.Bridgestone Corp.Denso Corp.Koito Manufacturing Co. Ltd.NGK Spark Plug Co. Ltd.NOK Corp.Stanley Electric Co. Ltd.Sumitomo Electric Industries Ltd.Sumitomo Rubber Industries Ltd.Toyoda Gosei Co. Ltd.Toyota Industries Corp.Yokohama Rubber Co. Ltd. (The)

Honda Motor Co. Ltd.Isuzu Motors Ltd.Mazda Motor Corp.Mitsubishi Motors Corp.Nissan Motor Co. Ltd.Subaru Corp.Suzuki Motor Corp.Toyota Motor Corp.Yamaha Motor Co. Ltd.

Aozora Bank Ltd.Bank of Kyoto Ltd. (The)Chiba Bank Ltd. (The)Concordia Financial Group Ltd.Fukuoka Financial Group Inc.Japan Post Bank Co. Ltd.Mebuki Financial Group Inc.Mitsubishi UFJ Financial Group Inc.Mizuho Financial Group Inc.Resona Holdings Inc.Seven Bank Ltd.Shinsei Bank Ltd.Shizuoka Bank Ltd. (The)Sumitomo Mitsui Financial Group Inc.Sumitomo Mitsui Trust Holdings Inc.Suruga Bank Ltd.Yamaguchi Financial Group Inc.



459,400$

10,435,816 1,783,200 51,274,488

61,710,304Airlines — 0.3%

668,700

26,970,807 668,700 25,961,403


927,900 46,802,8173,566,400 143,286,2632,451,900 119,384,702

668,700 49,300,815891,600 24,455,502445,800 8,395,295668,700 22,865,484

4,235,100 64,104,395891,600 14,976,943445,800 11,772,288891,600 52,193,621668,700 14,587,132

572,125,257Automobiles — 8.0%

9,138,900 289,951,5703,121,000 41,912,0903,120,600 39,350,3803,789,300 28,739,318

12,928,200 128,573,9803,365,600 103,156,5931,889,300 108,894,073

12,837,700 817,798,5341,560,300 45,238,575

1,603,615,113Banks — 6.6%

668,700 26,527,654339,800 17,827,420

3,519,500 27,211,3766,241,200 35,214,2814,458,000 23,881,0442,229,000 27,922,7674,903,880 17,874,145

66,201,380 399,602,973133,740,080 233,517,35611,813,700 65,992,3103,343,500 10,586,442

891,600 14,115,2562,570,700 24,868,2017,585,400 314,391,4231,807,032 75,544,566

891,600 10,307,420922,000 11,142,584

1,336,527,218Beverages — 1.5%

Asahi Glass Co. Ltd.

Daikin Industries Ltd.

LIXIL Group Corp.TOTO Ltd.

Daiwa Securities Group Inc.

Japan Exchange Group Inc.Nomura Holdings Inc.SBI Holdings Inc./Japan

Air Water Inc.Asahi Kasei Corp.Daicel Corp.Hitachi Chemical Co. Ltd.JSR Corp.Kaneka Corp.Kansai Paint Co. Ltd.Kuraray Co. Ltd.Mitsubishi Chemical Holdings Corp.Mitsubishi Gas Chemical Co. Inc.Mitsui Chemicals Inc.Nippon Paint Holdings Co. Ltd.(a)

Nissan Chemical Industries Ltd.Nitto Denko Corp.Shin-Etsu Chemical Co. Ltd.Sumitomo Chemical Co. Ltd.Taiyo Nippon Sanso Corp.Teijin Ltd.Toray Industries Inc.Tosoh Corp.

Dai Nippon Printing Co. Ltd.Park24 Co. Ltd.Secom Co. Ltd.Sohgo Security Services Co. Ltd.Toppan Printing Co. Ltd.

JGC Corp.Kajima Corp.Obayashi Corp.Shimizu Corp.Taisei Corp.

Taiheiyo Cement Corp.

Acom Co. Ltd.


Building Products — 1.4%

1,120,200$

45,985,476

1,348,700

156,165,916

1,560,300

34,553,654 774,800 40,649,455


8,916,000

51,840,740

2,897,700

55,182,85519,615,200 101,844,8561,344,210 36,795,808

245,664,259Chemicals — 4.4%

891,600 17,381,4616,909,900 95,114,8741,560,300 17,693,309

668,700 14,439,4151,114,500 21,788,3751,370,000 14,123,0611,114,500 23,963,1091,783,200 27,377,0327,355,700 68,245,622

920,100 23,551,918956,600 27,735,193891,600 37,380,809668,700 31,513,130901,200 70,996,095

2,072,500 207,736,4358,916,000 54,081,126

668,700 9,934,0221,114,500 21,665,2777,801,500 63,973,0901,596,900 28,073,809


1,439,700 31,034,814668,700 18,083,120

1,122,300 83,869,057445,800 20,454,812

2,874,000 23,490,377


1,114,500 23,316,8444,764,000 38,938,1203,566,400 36,075,9683,120,600 30,589,8941,114,500 61,446,500


668,700 24,804,280

Consumer Finance — 0.2%2,229,000 9,375,977



138

Asahi Group Holdings Ltd.Coca-Cola Bottlers Japan Holdings Inc.Kirin Holdings Co. Ltd.Suntory Beverage & Food Ltd.

2,006,100 105,175,071668,700 28,220,254

4,680,900 133,346,086739,200 32,930,443

299,671,854

AEON Financial Service Co. Ltd.Credit Saison Co. Ltd.

Toyo Seikan Group Holdings Ltd.

668,770 15,635,103891,600 14,829,226


891,600 14,993,356



iShares® MSCI Japan ETFSchedule of Investments (unaudited) (continued)

May 31, 2018


Benesse Holdings Inc.

Mitsubishi UFJ Lease & Finance Co. Ltd.

ORIX Corp.Tokyo Century Corp.

Nippon Telegraph & Telephone Corp.

Chubu Electric Power Co. Inc.Chugoku Electric Power Co. Inc. (The)Kansai Electric Power Co. Inc. (The)Kyushu Electric Power Co. Inc.Tohoku Electric Power Co. Inc.Tokyo Electric Power Co. Holdings Inc.(b)

Fuji Electric Co. Ltd.Mabuchi Motor Co. Ltd.Mitsubishi Electric Corp.Nidec Corp.

Alps Electric Co. Ltd.Hamamatsu Photonics KKHirose Electric Co. Ltd.Hitachi High-Technologies Corp.Hitachi Ltd.Keyence Corp.Kyocera Corp.Murata Manufacturing Co. Ltd.Nippon Electric Glass Co. Ltd.Omron Corp.Shimadzu Corp.TDK Corp.Yaskawa Electric Corp.Yokogawa Electric Corp.

Daiwa House REIT Investment Corp.Japan Prime Realty Investment Corp.Japan Real Estate Investment Corp.Japan Retail Fund Investment Corp.Nippon Building Fund Inc.Nippon Prologis REIT Inc.Nomura Real Estate Master Fund Inc.United Urban Investment Corp.

Aeon Co. Ltd.


Diversified Consumer Services — 0.1%

445,800$

16,248,958

Diversified Financial Services — 0.8%

2,451,900

14,691,766

7,355,700

123,661,338 229,700 13,848,175


3,812,900 179,195,245

Electric Utilities — 1.1%3,566,400 55,328,5211,560,300 20,436,3474,012,200 57,831,5172,229,000 26,384,0402,451,900 31,346,9477,801,500 37,124,355


2,696,000 19,281,071246,100 11,439,137

10,253,400 145,809,7751,258,200 195,542,427


1,115,200 26,523,787891,600 38,775,922222,958 29,079,248445,800 20,372,746

26,748,000 196,119,995539,852 332,075,191

1,783,200 105,962,8991,036,900 154,468,466

445,900 12,115,5761,114,500 58,779,3731,338,100 37,010,359

687,500 61,887,3401,337,400 54,163,1921,337,400 24,484,225

1,151,818,319Equity Real Estate Investment Trusts (REITs) — 1.1%

8,916 21,057,9934,458 16,228,4416,687 35,144,526

15,671 28,473,0587,094 39,830,089

11,145 23,286,06922,358 31,362,31917,832 27,377,032


3,566,400 70,871,716

Ajinomoto Co. Inc.

Calbee Inc.(a)

Kikkoman Corp.

MEIJI Holdings Co. Ltd.

NH Foods Ltd.

Nisshin Seifun Group Inc.

Nissin Foods Holdings Co. Ltd.

Toyo Suisan Kaisha Ltd.Yakult Honsha Co. Ltd.Yamazaki Baking Co. Ltd.

Osaka Gas Co. Ltd.Toho Gas Co. Ltd.Tokyo Gas Co. Ltd.

CYBERDYNE Inc.(a)(b)

Hoya Corp.Olympus Corp.Sysmex Corp.Terumo Corp.

Alfresa Holdings Corp.Medipal Holdings Corp.Suzuken Co. Ltd./Aichi Japan

M3 Inc.

McDonald's Holdings Co. Japan Ltd.Oriental Land Co. Ltd./Japan

Casio Computer Co. Ltd.Iida Group Holdings Co. Ltd.Nikon Corp.Panasonic Corp.Rinnai Corp.Sekisui Chemical Co. Ltd.Sekisui House Ltd.Sharp Corp./Japan(a)

Sony Corp.


Food Products — 1.5%

2,674,800$

51,196,526

447,600

16,355,764

891,600

42,181,638

668,756

57,060,777

544,700

22,435,754

1,114,575

23,595,403

305,200

22,754,107

445,800

15,941,212668,700 44,069,143668,700 14,525,583

310,115,907Gas Utilities — 0.6%

2,027,200 44,305,641445,800 14,094,740

2,229,000 60,831,009

119,231,390Health Care Equipment & Supplies — 1.9%

445,800 5,732,2712,229,000 132,802,4031,566,600 55,659,036

891,600 80,506,1991,783,200 106,028,552


1,114,500 28,240,770891,600 20,606,633445,840 20,025,765

68,873,168Health Care Technology — 0.2%

1,114,500 46,726,011


1,114,500 114,378,711


1,114,900 17,086,000891,680 17,062,936

1,783,200 28,969,10112,266,315 168,168,588

222,900 21,337,0152,229,000 36,683,2533,343,500 59,764,159

891,600 23,766,1527,188,400 341,406,820




139

FamilyMart UNY Holdings Co. Ltd.(a)

Lawson Inc.Seven & i Holdings Co. Ltd.Sundrug Co. Ltd.Tsuruha Holdings Inc.

445,800 46,366,975266,900 17,417,470

4,235,180 187,931,361445,800 20,311,197222,900 33,215,988

376,114,707

Lion Corp.Unicharm Corp.

Electric Power Development Co. Ltd.

Keihan Holdings Co. Ltd.Seibu Holdings Inc.Toshiba Corp.(b)

1,337,400 24,533,4642,229,000 69,365,815


891,600 23,725,119

Industrial Conglomerates — 0.7%445,800 15,120,558

1,337,400 22,046,88135,993,000 101,374,734

138,542,173




May 31, 2018


Dai-ichi Life Holdings Inc.

Japan Post Holdings Co. Ltd.

MS&AD Insurance Group Holdings Inc.

Sompo Holdings Inc.

Sony Financial Holdings Inc.

T&D Holdings Inc.Tokio Marine Holdings Inc.

Rakuten Inc.Start Today Co. Ltd.

DeNA Co. Ltd.Kakaku.com Inc.Yahoo Japan Corp.(a)

Fujitsu Ltd.Nomura Research Institute Ltd.NTT Data Corp.Obic Co. Ltd.Otsuka Corp.

Bandai Namco Holdings Inc.Sankyo Co. Ltd.Sega Sammy Holdings Inc.Shimano Inc.Yamaha Corp.

Amada Holdings Co. Ltd.Daifuku Co. Ltd.(a)

FANUC Corp.Hino Motors Ltd.Hitachi Construction Machinery Co. Ltd.Hoshizaki Corp.IHI Corp.JTEKT Corp.Kawasaki Heavy Industries Ltd.Komatsu Ltd.Kubota Corp.Kurita Water Industries Ltd.Makita Corp.MINEBEA MITSUMI Inc.MISUMI Group Inc.Mitsubishi Heavy Industries Ltd.


Insurance — 3.2%

6,019,400$

112,498,428

8,922,800

102,413,656

2,674,840

85,283,683

2,006,150

87,377,254

891,600

16,421,295

3,120,600

49,317,228 3,789,300 182,759,740


4,903,800 33,021,4931,115,200 38,851,599


668,700 12,888,378891,600 19,441,303

7,801,500 28,435,676

60,765,357IT Services — 1.0%

11,145,000 68,391,288668,704 33,729,099

3,343,500 37,452,616445,800 38,652,823493,800 20,430,126

198,655,952Leisure Products — 0.9%

1,114,598 47,499,551222,900 8,852,810891,600 15,789,391445,800 63,149,358891,600 46,613,171

181,904,281Machinery — 5.8%

1,783,200 19,433,097545,800 28,383,911

1,121,300 240,164,3061,337,400 15,030,286

668,700 24,742,731277,400 27,907,239891,600 33,605,799

1,114,500 16,279,732891,600 27,122,629

5,126,700 169,262,0275,572,500 94,016,222

445,800 12,843,2421,337,400 59,825,7072,229,000 42,427,8341,560,300 45,238,5751,783,200 67,621,925

Nippon Yusen KK

CyberAgent Inc.

Dentsu Inc.

Hakuhodo DY Holdings Inc.Toho Co. Ltd./Tokyo

Hitachi Metals Ltd.JFE Holdings Inc.Kobe Steel Ltd.Maruichi Steel Tube Ltd.Mitsubishi Materials Corp.Nippon Steel & Sumitomo Metal Corp.Sumitomo Metal Mining Co. Ltd.

Don Quijote Holdings Co. Ltd.Isetan Mitsukoshi Holdings Ltd.(a)

J Front Retailing Co. Ltd.Marui Group Co. Ltd.Ryohin Keikaku Co. Ltd.Takashimaya Co. Ltd.

Idemitsu Kosan Co. Ltd.Inpex Corp.JXTG Holdings Inc.Showa Shell Sekiyu KK

Oji Holdings Corp.

Kao Corp.Kobayashi Pharmaceutical Co. Ltd.Kose Corp.Pola Orbis Holdings Inc.Shiseido Co. Ltd.

Astellas Pharma Inc.Chugai Pharmaceutical Co. Ltd.Daiichi Sankyo Co. Ltd.Eisai Co. Ltd.Hisamitsu Pharmaceutical Co. Inc.Kyowa Hakko Kirin Co. Ltd.Mitsubishi Tanabe Pharma Corp.Ono Pharmaceutical Co. Ltd.


Marine (continued)

891,600$

18,210,321

35,924,147Media — 0.6%

552,600

28,940,991

1,171,400

56,065,903

1,338,100

20,346,461 668,700 23,265,553

128,618,908Metals & Mining — 1.3%

1,114,500 12,289,3002,674,850 55,444,4501,788,800 17,995,843

269,800 8,952,359668,700 18,618,597

4,235,570 88,984,2011,337,400 51,282,695


668,700 35,698,4671,783,260 22,059,9331,337,400 21,111,3351,114,500 22,680,837

123,100 41,922,7761,522,000 12,734,116


668,700 22,496,1905,809,000 64,909,807

18,318,695 118,516,3671,114,500 14,853,845


4,458,000 29,338,396

Personal Products — 2.2%2,715,100 210,970,355

229,700 20,317,704145,400 31,677,647465,200 23,079,093

2,070,700 164,405,709


11,632,450 178,215,4081,337,400 75,705,3713,121,069 100,401,6401,411,100 102,307,835

283,500 23,641,3091,337,400 27,426,2711,337,400 24,004,1422,237,900 55,605,054



140

Nabtesco Corp.NGK Insulators Ltd.NSK Ltd.SMC Corp./JapanSumitomo Heavy Industries Ltd.THK Co. Ltd.

Mitsui OSK Lines Ltd.

668,700 21,911,4731,337,400 24,459,6052,006,100 22,877,794

310,400 118,365,981668,700 23,696,396669,300 23,840,867

1,159,057,378Marine — 0.2%

668,700 17,713,826

Otsuka Holdings Co. Ltd.Santen Pharmaceutical Co. Ltd.Shionogi & Co. Ltd.Sumitomo Dainippon Pharma Co. Ltd.Taisho Pharmaceutical Holdings Co. Ltd.Takeda Pharmaceutical Co. Ltd.

2,229,000 111,178,1582,006,100 35,027,5821,602,100 84,259,739

891,600 18,571,410229,700 24,461,586

4,012,200 164,409,907

1,025,215,412




May 31, 2018


Persol Holdings Co. Ltd.Recruit Holdings Co. Ltd.

Aeon Mall Co. Ltd.

Daito Trust Construction Co. Ltd.

Daiwa House Industry Co. Ltd.

Hulic Co. Ltd.Mitsubishi Estate Co. Ltd.Mitsui Fudosan Co. Ltd.(a)

Nomura Real Estate Holdings Inc.Sumitomo Realty & Development Co. Ltd.Tokyo Tatemono Co. Ltd.Tokyu Fudosan Holdings Corp.

Central Japan Railway Co.East Japan Railway Co.Hankyu Hanshin Holdings Inc.Keikyu Corp.Keio Corp.Keisei Electric Railway Co. Ltd.Kintetsu Group Holdings Co. Ltd.Kyushu Railway Co.Nagoya Railroad Co. Ltd.Nippon Express Co. Ltd.Odakyu Electric Railway Co. Ltd.Tobu Railway Co. Ltd.Tokyu Corp.West Japan Railway Co.

Disco Corp.Renesas Electronics Corp.(b)

Rohm Co. Ltd.Sumco Corp.Tokyo Electron Ltd.

Konami Holdings Corp.LINE Corp.(a)(b)

Nexon Co. Ltd.(b)

Nintendo Co. Ltd.Oracle Corp. Japan(b)

Trend Micro Inc./Japan

ABC-Mart Inc.Fast Retailing Co. Ltd.


Professional Services — 1.0%

891,600$

19,145,868 6,248,000 174,250,448


668,700

12,943,772

452,600

74,027,355

3,120,600

113,369,305

1,560,300

16,041,7426,687,000 121,620,9864,903,800 123,446,942

668,700 15,713,4812,229,000 84,383,7911,114,500 15,469,3362,674,800 19,794,185

596,810,895Road & Rail — 3.9%

784,000 162,435,8231,783,200 176,522,7671,337,400 55,271,0761,337,400 22,563,893

668,700 31,143,835691,000 23,500,805995,000 41,715,910891,600 28,435,676

1,011,600 26,052,343445,800 33,605,799

1,560,300 33,821,2201,114,500 34,621,3592,922,500 52,023,701

891,600 64,240,828


144,500 27,331,9074,680,900 46,617,275

491,900 45,683,3821,337,400 32,608,703

891,652 167,423,266

319,664,533Software — 2.0%

498,700 23,455,815453,500 16,487,873

2,451,900 40,644,962634,500 262,805,467222,900 17,008,063668,700 38,037,333


222,900 13,745,962320,500 140,802,292

Canon Inc.

FUJIFILM Holdings Corp.

Konica Minolta Inc.

NEC Corp.

Ricoh Co. Ltd.Seiko Epson Corp.

Asics Corp.

Japan Tobacco Inc.

ITOCHU Corp.Marubeni Corp.Mitsubishi Corp.Mitsui & Co. Ltd.Sumitomo Corp.Toyota Tsusho Corp.

Japan Airport Terminal Co. Ltd.Kamigumi Co. Ltd.

KDDI Corp.NTT DOCOMO Inc.SoftBank Group Corp.








Technology Hardware, Storage & Peripherals (continued)

5,621,850$

192,181,425

2,229,000

85,799,420

2,451,900

22,432,589

1,562,900

44,163,127

3,789,300

34,389,524 1,560,300 27,416,013


891,600 14,903,084

Tobacco — 0.8%6,076,000 164,196,567

Trading Companies & Distributors — 3.7%8,024,400 151,115,3068,916,000 69,624,3227,578,600 211,429,3039,584,700 169,118,4126,464,100 108,731,5821,114,500 38,570,758


222,900 10,299,213668,700 14,660,991


10,260,200 278,166,6817,808,300 202,529,2414,687,700 335,036,040

815,731,962


91,232,671 91,250,917

7,848,162 7,848,162

99,099,079

99,099,079

20,012,601,380

89,315,402

$20,101,916,782

(a) All or a portion of this security is on loan.(b) Non-income producing security.(c) Affiliate of the Fund.



141

Hikari Tsushin Inc.Nitori Holdings Co. Ltd.Shimamura Co. Ltd.USS Co. Ltd.Yamada Denki Co. Ltd.(a)

Brother Industries Ltd.

93,100 16,572,820445,800 76,792,738108,100 11,064,218

1,337,400 25,370,5313,566,400 18,513,964

302,862,525Technology Hardware, Storage & Peripherals — 2.2%

1,337,400 28,066,381

(d) Annualized 7-day yield as of period-end.(e) All or a portion of this security was purchased with cash collateral received from

loaned securities.




TOPIX Index

Common Stocks

Money Market Funds

Futures Contracts

iShares® MSCI Japan ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates


Affiliated Issuer



Value at 05/31/18

Income

Net



40,539,970 50,692,701 91,232,671 $91,250,917

$3,045,592(a)

$(12,554)

$7,875

5,281,032 2,567,130 7,848,162 7,848,162

89,760

—

—

$99,099,079

$3,135,352

$(12,554)

$7,875



Description

Numberof

ContractsExpiration

Date

Notional Amount (000)


(Depreciation)

Long Contracts 1,184 06/07/18 $190,113 $ 3,596,433




Investments

Assets

$19,913,502,301

$ —

$ —

$19,913,502,301

99,099,079

—

—

99,099,079

$20,012,601,380

$ —

$ —

$20,012,601,380


Assets

$ 3,596,433

$ —

$ —

$ 3,596,433




142



iShares® MSCI Japan Small-Cap ETF Schedule of Investments (unaudited)

May 31, 2018


Jamco Corp.(a)

Kintetsu World Express Inc.

Konoike Transport Co. Ltd.

Maruwa Unyu Kikan Co. Ltd.Mitsui-Soko Holdings Co. Ltd.(b)

Aisan Industry Co. Ltd.Akebono Brake Industry Co. Ltd.(a)(b)

Daido Metal Co. Ltd.Daikyonishikawa Corp.Eagle Industry Co. Ltd.Exedy Corp.FCC Co. Ltd.Futaba Industrial Co. Ltd.G-Tekt Corp.Ichikoh Industries Ltd.Kasai Kogyo Co. Ltd.Keihin Corp.KYB Corp.Mitsuba Corp.Musashi Seimitsu Industry Co. Ltd.NHK Spring Co. Ltd.Nifco Inc./JapanNippon Seiki Co. Ltd.Nissin Kogyo Co. Ltd.Pacific Industrial Co. Ltd.Piolax Inc.Press Kogyo Co. Ltd.Riken Corp.Sanden Holdings Corp.(a)(b)

Shoei Co. Ltd.Showa Corp.Sumitomo Riko Co. Ltd.Tachi-S Co. Ltd.Taiho Kogyo Co. Ltd.Tokai Rika Co. Ltd.Topre Corp.Toyo Tire & Rubber Co. Ltd.Toyota Boshoku Corp.TPR Co. Ltd.TS Tech Co. Ltd.Unipres Corp.Yorozu Corp.

Nissan Shatai Co. Ltd.

77 Bank Ltd. (The)Aichi Bank Ltd. (The)



6,700$

139,556

Air Freight & Logistics — 0.2%

26,800

547,372

20,100

327,461

6,700

225,091 67,000 207,207


20,100 188,89160,300 118,77420,100 225,70826,800 434,64113,400 221,88420,100 634,57120,100 555,01940,200 289,35013,400 230,02420,100 268,81420,100 268,99926,800 523,19813,400 631,48820,100 205,35713,400 493,350

134,000 1,323,41153,600 1,852,52933,500 607,12926,800 475,09626,800 379,63320,100 508,95260,300 332,4566,700 340,411

13,400 179,82610,500 405,42633,500 602,19526,800 279,97620,100 360,57713,400 172,05633,500 628,40420,100 560,56967,000 1,040,96840,200 765,18613,400 346,82526,800 1,181,57326,800 571,05313,400 219,417

18,423,736Automobiles — 0.1%

53,600 481,509

Banks — 4.8%33,500 746,5006,700 305,260

Bank of Okinawa Ltd. (The)

Bank of Saga Ltd. (The)

Bank of the Ryukyus Ltd.

Chiba Kogyo Bank Ltd. (The)

Chugoku Bank Ltd. (The)(a)

Chukyo Bank Ltd. (The)

Daishi Bank Ltd. (The)

Ehime Bank Ltd. (The)Eighteenth Bank Ltd. (The)Gunma Bank Ltd. (The)Hachijuni Bank Ltd. (The)Hiroshima Bank Ltd. (The)Hokkoku Bank Ltd. (The)Hokuetsu Bank Ltd. (The)Hokuhoku Financial Group Inc.Hyakugo Bank Ltd. (The)Hyakujushi Bank Ltd. (The)Iyo Bank Ltd. (The)Jimoto Holdings Inc.Juroku Bank Ltd. (The)Kansai Mirai Financial Group Inc.(b)

Keiyo Bank Ltd. (The)Kiyo Bank Ltd. (The)Kyushu Financial Group Inc.Miyazaki Bank Ltd. (The)Musashino Bank Ltd. (The)Nanto Bank Ltd. (The)Nishi-Nippon Financial Holdings Inc.North Pacific Bank Ltd.Ogaki Kyoritsu Bank Ltd. (The)Oita Bank Ltd. (The)San ju San Financial Group Inc.(b)

San-in Godo Bank Ltd. (The)Senshu Ikeda Holdings Inc.Shiga Bank Ltd. (The)Shikoku Bank Ltd. (The)Tochigi Bank Ltd. (The)Toho Bank Ltd. (The)Tokyo Kiraboshi Financial Group Inc.TOMONY Holdings Inc.Towa Bank Ltd. (The)Tsukuba Bank Ltd.Yamagata Bank Ltd. (The)Yamanashi Chuo Bank Ltd. (The)

Ito En Ltd.Sapporo Holdings Ltd.Takara Holdings Inc.


Banks (continued)

13,400$

522,334

6,700

146,587

26,800

407,507

33,500

152,630

107,200

1,207,721

6,700

143,256

13,400

560,569

20,100

228,48367,000 181,923

214,400 1,219,561187,600 834,008167,500 1,191,74813,400 532,20113,400 278,00373,700 1,048,060

134,000 561,186134,000 441,548160,800 1,105,597107,200 180,56620,100 531,52353,674 415,480

134,000 600,65340,200 673,793

194,300 931,7536,700 214,299

20,100 641,97220,100 522,82893,800 1,093,017

180,900 601,08520,100 521,1636,700 238,9666,700 141,838

93,800 866,816160,800 569,819134,000 706,72426,800 347,56560,300 217,567

134,000 498,28313,430 305,82093,800 407,50720,100 230,70341,700 113,61013,400 294,65367,000 273,809

26,343,074Beverages — 0.7%

33,500 1,379,83840,200 1,036,035

107,200 1,277,776



143

Akita Bank Ltd. (The)Aomori Bank Ltd. (The)Awa Bank Ltd. (The)Bank of Iwate Ltd. (The)Bank of Nagoya Ltd. (The)(a)

13,400 366,31213,400 407,014

134,000 855,96213,400 518,6346,700 238,658

GNI Group Ltd.(a)(b)

HEALIOS KK(a)(b)

Japan Tissue Engineering Co. Ltd.(b)

NanoCarrier Co. Ltd.(b)

PeptiDream Inc.(a)(b)

SanBio Co. Ltd.(b)

Takara Bio Inc.


67,000 281,8266,700 102,062

13,400 166,25926,600 143,47360,300 2,625,23813,400 364,46233,500 782,885

4,466,205



iShares® MSCI Japan Small-Cap ETF Schedule of Investments (unaudited) (continued)

May 31, 2018


Aica Kogyo Co. Ltd.

Bunka Shutter Co. Ltd.

Central Glass Co. Ltd.

Maeda Kosen Co. Ltd.

Nichias Corp.

Nichiha Corp.

Nippon Sheet Glass Co. Ltd.

Nitto Boseki Co. Ltd.Noritz Corp.Okabe Co. Ltd.Sankyo Tateyama Inc.Sanwa Holdings Corp.Sekisui Jushi Corp.Sinko Industries Ltd.Takara Standard Co. Ltd.Takasago Thermal Engineering Co. Ltd.

Ichiyoshi Securities Co. Ltd.Jafco Co. Ltd.kabu.com Securities Co. Ltd.Kyokuto Securities Co. Ltd.M&A Capital Partners Co. Ltd.(b)

Marusan Securities Co. Ltd.Matsui Securities Co. Ltd.Monex Group Inc.(a)

Okasan Securities Group Inc.SPARX Group Co. Ltd.Tokai Tokyo Financial Holdings Inc.Uzabase Inc.(b)

Achilles Corp.ADEKA Corp.C.I. Takiron Corp.Chugoku Marine Paints Ltd.Dainichiseika Color & Chemicals Manufacturing Co.Ltd.Denka Co. Ltd.DIC Corp.Fujimi Inc.Fujimori Kogyo Co. Ltd.Fuso Chemical Co. Ltd.Hodogaya Chemical Co. Ltd.Ishihara Sangyo Kaisha Ltd.(b)

JCU Corp.JSP Corp.


Building Products — 1.6%

33,500$

1,254,959

33,500

304,952

26,800

596,707

13,400

234,341

69,000

868,811

20,100

803,852

60,300

607,745

13,600

312,57020,100 350,95726,800 239,52120,100 285,465

127,300 1,395,50220,100 420,51913,400 245,19526,800 435,38133,500 606,204


26,800 317,96420,100 827,90393,800 334,98513,400 180,3196,700 653,689

33,500 309,88573,700 698,028

120,600 717,08467,000 337,94560,300 157,070

140,700 932,4316,700 198,882

5,666,185Chemicals — 6.7%

13,400 280,09953,600 968,4466,700 42,058

40,200 393,693

6,900 240,38453,600 1,970,93346,900 1,534,62713,400 329,80413,400 466,21613,400 343,9886,700 227,558

20,100 222,19213,400 316,4846,700 209,057

NOF Corp.

Okamoto Industries Inc.

Osaka Soda Co. Ltd.

Sakai Chemical Industry Co. Ltd.

Sakata INX Corp.

Sanyo Chemical Industries Ltd.

Sekisui Plastics Co. Ltd.

Shikoku Chemicals Corp.Shin-Etsu Polymer Co. Ltd.Showa Denko KKStella Chemifa Corp.(a)

Sumitomo Bakelite Co. Ltd.Sumitomo Seika Chemicals Co. Ltd.T. Hasegawa Co. Ltd.(a)

Taiyo Holdings Co. Ltd.Takasago International Corp.Tanaka Chemical Corp.(a)(b)

Tayca Corp.Tenma Corp.Toagosei Co. Ltd.Tokai Carbon Co. Ltd.Tokuyama Corp.Tokyo Ohka Kogyo Co. Ltd.Toyo Ink SC Holdings Co. Ltd.Toyobo Co. Ltd.Ube Industries Ltd.W-Scope Corp.(a)

Zeon Corp.

Aeon Delight Co. Ltd.Bell System24 Holdings Inc.Central Security Patrols Co. Ltd.Daiseki Co. Ltd.Duskin Co. Ltd.Itoki Corp.Kokuyo Co. Ltd.Kyodo Printing Co. Ltd.Matsuda Sangyo Co. Ltd.Mitsubishi Pencil Co. Ltd.Nichiban Co. Ltd.Nippon Kanzai Co. Ltd.Nippon Parking Development Co. Ltd.Okamura Corp.Oyo Corp.Pilot Corp.Prestige International Inc.


Chemicals (continued)

41,000$

1,249,114

24,000

252,934

6,700

194,565

6,700

171,747

26,800

378,399

6,700

323,761

13,400

157,132

20,100

281,20926,800 268,62987,100 3,771,9686,700 219,849

134,000 1,365,3466,700 308,035

13,400 272,45313,400 551,3196,700 212,7576,700 86,2756,700 157,625

13,400 234,71173,700 861,512

127,300 2,616,42040,200 1,437,49820,100 764,076

134,000 752,35953,600 892,47067,000 1,908,64720,100 346,332

100,500 1,278,393


13,400 479,16620,100 345,2226,700 268,876

26,860 866,53126,800 650,72926,800 156,88553,600 1,006,9275,800 155,403

13,460 211,60426,800 556,9926,700 177,668

13,400 271,219127,300 214,42240,200 606,08013,400 179,94918,200 966,57933,500 490,575



144

Kanto Denka Kogyo Co. Ltd.KH Neochem Co. Ltd.Koatsu Gas Kogyo Co. Ltd.Konishi Co. Ltd.Kumiai Chemical Industry Co. Ltd.(a)

Kureha Corp.Lintec Corp.Nihon Nohyaku Co. Ltd.Nihon Parkerizing Co. Ltd.Nippon Kayaku Co. Ltd.Nippon Shokubai Co. Ltd.Nippon Soda Co. Ltd.Nippon Valqua Industries Ltd.

26,800 278,24920,100 543,73320,100 177,05120,100 338,93154,849 344,30513,400 900,36433,500 968,19933,500 212,44960,300 898,02087,100 958,82620,100 1,552,20267,000 371,8636,700 204,740

Relia Inc.Sato Holdings Corp.Toppan Forms Co. Ltd.

Denki Kogyo Co. Ltd.Icom Inc.

Chiyoda Corp.(a)

Chudenko Corp.COMSYS Holdings Corp.

26,800 381,85313,400 362,61233,500 348,737


6,700 189,3236,700 168,109

357,432Construction & Engineering — 4.8%

113,900 991,75720,100 539,84873,700 1,963,841




May 31, 2018


Dai-Dan Co. Ltd.

Daiho Corp.

Fudo Tetra Corp.

Fukuda Corp.

Hazama Ando Corp.

Hibiya Engineering Ltd.

Kandenko Co. Ltd.

Kinden Corp.Kumagai Gumi Co. Ltd.Kyowa Exeo Corp.Kyudenko Corp.Maeda Corp.Maeda Road Construction Co. Ltd.Mirait Holdings Corp.Nippo Corp.Nippon Densetsu Kogyo Co. Ltd.Nippon Koei Co. Ltd.Nippon Road Co. Ltd. (The)Nishimatsu Construction Co. Ltd.Okumura Corp.OSJB Holdings Corp.(a)

Penta-Ocean Construction Co. Ltd.Raito Kogyo Co. Ltd.Sanki Engineering Co. Ltd.Shinnihon Corp.SHO-BOND Holdings Co. Ltd.Sumitomo Densetsu Co. Ltd.Sumitomo Mitsui Construction Co. Ltd.Taihei Dengyo Kaisha Ltd.Taikisha Ltd.Takamatsu Construction Group Co. Ltd.Tekken Corp.Toa Corp./TokyoToda Corp.Tokyu Construction Co. Ltd.Toshiba Plant Systems & Services Corp.Totetsu Kogyo Co. Ltd.Toyo Construction Co. Ltd.Toyo Engineering Corp.(a)(b)

Yahagi Construction Co. Ltd.Yokogawa Bridge Holdings Corp.Yurtec Corp.

Sumitomo Osaka Cement Co. Ltd.

Aiful Corp.(b)


Construction & Engineering (continued)

6,700$

150,410

67,000

376,179

120,600

206,467

6,700

416,264

113,900

999,095

13,400

267,889

60,300

663,247

87,100

1,437,43720,100 678,97353,600 1,406,04726,800 1,295,04487,100 946,80040,200 798,85740,200 631,61134,100 660,68920,100 439,3906,700 188,7066,700 354,595

33,700 973,97920,300 677,32187,100 232,491

180,900 1,180,52526,800 264,68226,800 267,88920,100 236,43813,400 901,59713,400 244,208

107,200 718,3176,700 181,923

13,400 421,8146,700 187,7816,700 184,0816,700 160,400

134,000 1,181,57353,640 544,57133,500 748,96713,400 424,28146,900 206,77520,100 153,55520,100 163,73120,100 462,70120,100 164,101


268,000 1,260,509

Consumer Finance — 0.5%214,400 710,424

Arata Corp.

Canon Marketing Japan Inc.

Doshisha Co. Ltd.PALTAC Corp.

Meiko Network Japan Co. Ltd.

Financial Products Group Co. Ltd.Fuyo General Lease Co. Ltd.IBJ Leasing Co. Ltd.Japan Investment Adviser Co. Ltd.Japan Securities Finance Co. Ltd.Ricoh Leasing Co. Ltd.Zenkoku Hosho Co. Ltd.

Hokkaido Electric Power Co. Inc.(a)

Hokuriku Electric Power Co.(b)

Okinawa Electric Power Co. Inc. (The)Shikoku Electric Power Co. Inc.

Chiyoda Integre Co. Ltd.Cosel Co. Ltd.Daihen Corp.Denyo Co. Ltd.FDK Corp.(a)(b)

Fujikura Ltd.Furukawa Electric Co. Ltd.Futaba Corp.GS Yuasa Corp.Idec Corp./JapanNippon Carbon Co. Ltd.Nissin Electric Co. Ltd.Nitto Kogyo Corp.Sanyo Denki Co. Ltd.Sinfonia Technology Co. Ltd.(a)

Tatsuta Electric Wire and Cable Co. Ltd.Toyo Tanso Co. Ltd.Ushio Inc.

Ai Holdings Corp.Amano Corp.Anritsu Corp.Azbil Corp.Canon Electronics Inc.Citizen Watch Co. Ltd.CMK Corp.


Distributors — 0.5%

6,700$

418,731

33,500

719,674

13,400

306,987 20,100 1,189,590

2,634,982Diversified Consumer Services — 0.0%

13,400 157,625

Diversified Financial Services — 0.9%46,900 630,68613,400 969,43320,100 568,8946,700 339,795

60,300 359,0976,700 223,857

33,500 1,615,721


120,600 821,428107,200 1,079,44925,912 590,76893,800 1,228,565


6,700 146,15513,400 170,69967,000 476,69913,400 241,86567,000 128,888

167,500 1,143,95546,900 1,817,37820,100 365,942

201,000 954,63220,100 507,1026,700 394,680

33,500 316,05213,400 253,9526,700 561,185

67,000 262,70926,800 149,4856,700 230,641

73,700 949,699


26,800 635,43533,500 836,84593,800 1,259,64640,200 1,972,16613,400 293,050

187,600 1,251,87526,800 170,699



145

Hitachi Capital Corp.J Trust Co. Ltd.(a)

Jaccs Co. Ltd.Orient Corp.(a)

FP Corp.Fuji Seal International Inc.Pack Corp. (The)Rengo Co. Ltd.

33,500 869,83846,900 370,38213,400 303,533

294,800 409,727


13,400 778,25926,800 1,057,0026,700 234,033

120,600 1,072,296

3,141,590

CONEXIO Corp.Daiwabo Holdings Co. Ltd.Dexerials Corp.Elematec Corp.Enplas Corp.ESPEC Corp.Hioki E.E. Corp.Hochiki Corp.

6,700 130,24413,400 752,35933,500 335,7866,700 157,8726,700 197,3406,700 147,3888,100 319,4676,700 137,336




May 31, 2018


Horiba Ltd.

Hosiden Corp.

Ibiden Co. Ltd.

Iriso Electronics Co. Ltd.

Japan Aviation Electronics Industry Ltd.

Japan Cash Machine Co. Ltd.

Japan Display Inc.(b)

Kaga Electronics Co. Ltd.Koa Corp.(a)

Macnica Fuji Electronics Holdings Inc.Maruwa Co. Ltd./AichiNichicon Corp.Nippon Ceramic Co. Ltd.Nippon Chemi-Con Corp.Nippon Signal Co. Ltd.Nissha Co. Ltd.(a)

Nohmi Bosai Ltd.Ohara Inc.Oki Electric Industry Co. Ltd.Optex Group Co. Ltd.Osaki Electric Co. Ltd.Riken Keiki Co. Ltd.Ryosan Co. Ltd.Ryoyo Electro Corp.Sanshin Electronics Co. Ltd.SIIX Corp.(a)

Taiyo Yuden Co. Ltd.Tamura Corp.Topcon Corp.(a)

UKC Holdings Corp.V Technology Co. Ltd.

Japan Drilling Co. Ltd.(b)

Modec Inc.Shinko Plantech Co. Ltd.Toyo Kanetsu KK

Activia Properties Inc.Advance Residence Investment Corp.AEON REIT Investment Corp.Comforia Residential REIT Inc.Daiwa Office Investment Corp.Frontier Real Estate Investment Corp.Fukuoka REIT Corp.Global One Real Estate Investment Corp.


Electronic Equipment, Instruments & Components (continued)

26,800$

2,234,875

33,500

323,144

73,700

1,148,457

13,400

833,761

24,000

400,939

13,400

145,045

381,900

435,875

13,400

343,74113,400 281,33326,800 449,4426,700 536,518

33,500 417,80613,400 331,4086,700 253,458

33,500 310,19426,800 548,11213,400 326,4746,700 135,548

53,600 613,23420,100 564,26913,400 102,9876,700 164,964

13,600 497,58413,400 222,2546,700 132,526

20,100 386,47873,700 1,663,32940,200 294,53067,000 1,168,6226,700 136,7202,500 571,586


6,700 107,79713,400 364,70926,800 238,5346,700 234,033

945,073Equity Real Estate Investment Trusts (REITs) — 7.3%

402 1,792,710871 2,284,025938 1,061,936335 797,068201 1,178,490335 1,384,463469 753,284536 543,672

Japan Rental Housing Investments Inc.

Kenedix Office Investment Corp.

Kenedix Residential Next Investment Corp.

Kenedix Retail REIT Corp.

LaSalle Logiport REIT

MCUBS MidCity Investment Corp.

Mitsubishi Estate Logistics REIT Investment Corp.

Mitsui Fudosan Logistics Park Inc.Mori Hills REIT Investment Corp.Mori Trust Hotel Reit Inc.Mori Trust Sogo REIT Inc.Nippon Accommodations Fund Inc.NIPPON REIT Investment Corp.Orix JREIT Inc.Premier Investment Corp.Sekisui House Reit Inc.Tokyu REIT Inc.

Ain Holdings Inc.(a)

Arcs Co. Ltd.Axial Retailing Inc.Belc Co. Ltd.Cawachi Ltd.Cocokara fine Inc.Cosmos Pharmaceutical Corp.Create SD Holdings Co. Ltd.Daikokutenbussan Co. Ltd.Genky DrugStores Co. Ltd.(b)

Heiwado Co. Ltd.Kansai Super Market Ltd.Kato Sangyo Co. Ltd.Kobe Bussan Co. Ltd.Kusuri no Aoki Holdings Co. Ltd.Life Corp.Matsumotokiyoshi Holdings Co. Ltd.Ministop Co. Ltd.Mitsubishi Shokuhin Co. Ltd.Qol Co. Ltd.Retail Partners Co. Ltd.San-A Co. Ltd.Shoei Foods Corp.Sogo Medical Co. Ltd.Sugi Holdings Co. Ltd.United Super Markets Holdings Inc.Valor Holdings Co. Ltd.Welcia Holdings Co. Ltd.


Equity Real Estate Investment Trusts (REITs) (continued)

1,072$

862,376

272

1,689,907

469

689,827

335

746,500

737

751,619

1,005

778,876

206

504,927

134

421,1971,005 1,295,043

201 267,704670 997,183335 1,512,426268 816,494

1,675 2,650,214871 863,424

2,308 1,516,786603 828,643


14,400 1,020,57226,800 728,6786,700 253,1506,700 350,8956,700 150,225

13,400 996,5676,700 1,446,749

20,100 600,3456,700 343,4956,700 273,809

20,100 487,3066,700 75,421

13,400 468,0666,700 326,8447,800 572,9126,700 169,281

53,600 2,595,02113,400 276,6466,700 179,949

13,400 287,00617,000 287,59713,400 682,0566,700 287,068

13,400 294,16026,800 1,610,78733,500 440,00726,800 648,75533,500 1,813,061



146

GLP J-REITHankyu REIT Inc.Heiwa Real Estate REIT Inc.Hoshino Resorts REIT Inc.Hulic Reit Inc.Ichigo Office REIT InvestmentIndustrial & Infrastructure Fund Investment Corp.Invesco Office J-Reit Inc.Invincible Investment Corp.Japan Excellent Inc.Japan Hotel REIT Investment Corp.Japan Logistics Fund Inc.

1,876 2,099,697335 423,973603 588,320134 685,756603 949,637871 675,026871 974,859

5,427 738,2863,149 1,449,215

804 1,073,0362,613 1,952,926

536 1,108,064

Yakuodo Co. Ltd.Yaoko Co. Ltd.Yokohama Reito Co. Ltd.

Ariake Japan Co. Ltd.(a)

Chubu Shiryo Co. Ltd.DyDo Group Holdings Inc.Ezaki Glico Co. Ltd.Feed One Co. Ltd.Fuji Oil Holdings Inc.Fujicco Co. Ltd.

6,700 245,13313,400 714,12433,500 329,311


13,400 1,165,53913,400 252,7196,700 384,196

26,800 1,393,71353,600 125,31133,500 1,217,95813,400 328,941




May 31, 2018


Fujiya Co. Ltd.

Hokuto Corp.

House Foods Group Inc.

Itoham Yonekyu Holdings Inc.

J-Oil Mills Inc.

Kagome Co. Ltd.

Kameda Seika Co. Ltd.

Kenko Mayonnaise Co. Ltd.(a)

Kewpie Corp.KEY Coffee Inc.Kotobuki Spirits Co. Ltd.Marudai Food Co. Ltd.Maruha Nichiro Corp.Megmilk Snow Brand Co. Ltd.Mitsui Sugar Co. Ltd.Morinaga & Co. Ltd./JapanMorinaga Milk Industry Co. Ltd.Nichirei Corp.Nippon Beet Sugar Manufacturing Co. Ltd.Nippon Flour Mills Co. Ltd.Nippon Suisan Kaisha Ltd.Nisshin OilliO Group Ltd. (The)Prima Meat Packers Ltd.Riken Vitamin Co. Ltd.Rock Field Co. Ltd.Rokko Butter Co. Ltd.S Foods Inc.Sakata Seed Corp.Showa Sangyo Co. Ltd.Warabeya Nichiyo Holdings Co. Ltd.

K&O Energy Group Inc.Nippon Gas Co. Ltd.(a)

Shizuoka Gas Co. Ltd.

Asahi Intecc Co. Ltd.Eiken Chemical Co. Ltd.Fukuda Denshi Co. Ltd.Hogy Medical Co. Ltd.JEOL Ltd.Mani Inc.Menicon Co. Ltd.Nagaileben Co. Ltd.Nakanishi Inc.Nihon Kohden Corp.


Food Products (continued)

6,700$

162,744

13,400

250,745

40,200

1,476,350

93,800

888,400

6,700

245,133

53,600

1,864,863

6,700

362,612

6,700

258,39260,300 1,460,25413,400 267,88913,400 719,05767,000 308,96026,800 1,024,93433,500 928,11513,400 450,79826,800 1,332,04526,800 1,054,53573,900 2,007,26113,400 278,12633,500 559,335

187,600 920,34413,400 383,58067,000 402,6976,700 266,409

20,100 360,9476,700 145,7856,700 276,893

20,100 756,67513,400 355,08913,400 339,425


13,400 222,13126,800 1,401,11333,500 320,061


60,700 2,184,51820,100 455,3006,700 498,900

13,400 609,90467,000 699,94013,400 627,78813,400 355,58213,400 351,75840,200 851,02953,600 1,489,917

Toho Holdings Co. Ltd.

Tokai Corp./Gifu

Tsukui Corp.Vital KSK Holdings Inc.

Medical Data Vision Co. Ltd.(b)

Aeon Fantasy Co. Ltd.Arcland Service Holdings Co. Ltd.Atom Corp.BRONCO BILLY Co. Ltd.Colowide Co. Ltd.Create Restaurants Holdings Inc.Doutor Nichires Holdings Co. Ltd.Fuji Kyuko Co. Ltd.(a)

Fujita Kanko Inc.(a)

Hiday Hidaka Corp.HIS Co. Ltd.Ichibanya Co. Ltd.Kappa Create Co. Ltd.Kisoji Co. Ltd.KNT-CT Holdings Co. Ltd.(b)

Komeda Holdings Co. Ltd.Koshidaka Holdings Co. Ltd.Kura Corp.(a)

Kyoritsu Maintenance Co. Ltd.Matsuya Foods Co. Ltd.Monogatari Corp. (The)MOS Food Services Inc.Ohsho Food Service Corp.Pepper Food Service Co. Ltd.(a)

Plenus Co. Ltd.Resorttrust Inc.Ringer Hut Co. Ltd.Round One Corp.Royal Holdings Co. Ltd.Saizeriya Co. Ltd.Skylark Co. Ltd.(a)

St. Marc Holdings Co. Ltd.Sushiro Global Holdings Ltd.TKP Corp.(b)

Tokyo Dome Corp.Tokyotokeiba Co. Ltd.Toridoll Holdings Corp.Tosho Co. Ltd.(a)

WATAMI Co. Ltd.(a)

Yoshinoya Holdings Co. Ltd.Zensho Holdings Co. Ltd.


Health Care Providers & Services (continued)

33,500$

824,203

13,400

278,989

40,200

312,290 26,800 272,822


11,600 155,243

Hotels, Restaurants & Leisure — 4.0%6,700 434,7656,700 150,163

60,300 589,4306,700 261,167

40,200 1,128,53833,500 444,01520,100 411,08413,400 394,0636,700 209,057

13,459 324,69126,800 927,4986,700 289,226

20,100 263,07913,400 356,5696,700 94,230

26,800 527,88428,400 451,7026,700 509,384

20,180 1,045,7316,700 230,333

900 93,52520,100 604,0456,700 368,7796,700 316,361

13,400 228,54453,600 987,68613,400 323,76146,900 829,69120,100 547,98820,100 464,736

120,600 1,813,80113,400 348,42813,400 831,2956,300 313,130

60,300 582,21413,400 585,23613,400 404,54713,400 495,81713,400 167,36940,200 788,86660,300 1,507,986

21,646,414



147

Nikkiso Co. Ltd.Nipro Corp.Paramount Bed Holdings Co. Ltd.

AS ONE Corp.BML Inc.Japan Lifeline Co. Ltd.(a)

Miraca Holdings Inc.NichiiGakkan Co. Ltd.Ship Healthcare Holdings Inc.Solasto Corp.

40,200 435,13593,800 1,141,36513,400 611,137


6,700 472,38313,400 336,09533,500 857,81233,500 1,091,53726,800 291,07626,800 979,3006,700 224,783

Alpine Electronics Inc.Chofu Seisakusho Co. Ltd.Clarion Co. Ltd.Cleanup Corp.ES-Con Japan Ltd.Foster Electric Co. Ltd.France Bed Holdings Co. Ltd.Fujitsu General Ltd.

Household Durables — 1.9%

26,800 512,83713,400 307,97467,000 175,13913,400 111,25120,100 124,50913,400 205,85020,100 182,97140,200 627,171




May 31, 2018


Funai Electric Co. Ltd.(b)

Haseko Corp.

Hinokiya Group Co. Ltd.

JVC Kenwood Corp.

LEC Inc.

Misawa Homes Co. Ltd.

Pioneer Corp.(a)(b)

Pressance Corp.Sangetsu Corp.Starts Corp. Inc.Sumitomo Forestry Co. Ltd.Tamron Co. Ltd.Token Corp.Zojirushi Corp.

Earth Corp.Pigeon Corp.S.T. Corp.

eRex Co. Ltd.(a)

Katakura Industries Co. Ltd.(a)

Nisshinbo Holdings Inc.TOKAI Holdings Corp.

Anicom Holdings Inc.(a)

ASKUL Corp.(a)

Belluna Co. Ltd.Open Door Inc.(b)

Yume No Machi Souzou Iinkai Co. Ltd.(a)

Ateam Inc.COOKPAD Inc.(a)

Dip Corp.F@N Communications Inc.GMO Internet Inc.Gree Inc.Gurunavi Inc.Infomart Corp.Internet Initiative Japan Inc.Istyle Inc.(a)


Household Durables (continued)

13,300$

81,285

180,900

2,754,003

6,700

182,725

87,100

289,411

8,600

331,667

13,400

119,514

214,400

305,877

26,800

433,90133,500 704,25720,100 516,16787,100 1,334,82013,400 260,4896,720 642,032

26,800 405,780


6,700 350,27973,700 3,629,2056,700 165,087


20,100 196,662

Industrial Conglomerates — 0.4%13,400 162,80693,800 1,139,63860,300 621,066

1,923,510Insurance — 0.1%

13,400 510,617

Internet & Direct Marketing Retail — 0.2%13,400 392,21333,500 432,9156,700 132,218

13,400 255,185


6,700 139,98840,200 218,30720,100 496,37226,800 181,79946,900 1,257,91973,700 420,58120,100 171,13160,300 622,17620,100 408,86426,800 296,257

GMO Payment Gateway Inc.

Hearts United Group Co. Ltd.

Ines Corp.

Infocom Corp.

Information Services International-Dentsu Ltd.

Itochu Techno-Solutions Corp.

Kanematsu Electronics Ltd.

NEC Networks & System Integration Corp.NET One Systems Co. Ltd.Nihon Unisys Ltd.NS Solutions Corp.Remixpoint Inc.SCSK Corp.SHIFT Inc.(b)

TIS Inc.TKC Corp.Transcosmos Inc.

Fields Corp.Heiwa Corp.Mars Engineering Corp.Mizuno Corp.Tomy Co. Ltd.Universal Entertainment Corp.(a)(b)

Yonex Co. Ltd.(a)

CMIC Holdings Co. Ltd.EPS Holdings Inc.Linical Co. Ltd.

Aichi Corp.Aida Engineering Ltd.Anest Iwata Corp.Asahi Diamond Industrial Co. Ltd.Bando Chemical Industries Ltd.CKD Corp.Daiwa Industries Ltd.DMG Mori Co. Ltd.Ebara Corp.Fuji Corp./AichiFujitec Co. Ltd.Fukushima Industries Corp.Furukawa Co. Ltd.


IT Services (continued)

13,474$

1,441,096

6,700

99,903

20,100

198,882

6,700

163,360

6,700

208,132

67,000

1,217,957

6,700

220,466

13,400

306,37053,600 876,68346,900 1,179,78526,800 730,89816,100 247,47633,556 1,544,2966,700 296,627

46,948 2,212,46913,400 537,13520,100 478,426


13,400 114,82733,516 770,9196,700 166,197

13,400 489,03353,600 476,57613,400 695,62440,200 297,490


6,700 134,87020,100 399,2436,700 131,416

665,529Machinery — 6.2%

20,100 133,01933,500 401,77226,800 270,84933,500 268,25926,800 320,92433,500 697,78220,100 235,32867,000 1,128,53867,000 2,315,66140,200 824,01840,200 534,2986,700 296,935

20,100 296,195



148

Mixi Inc.Rakus Co. Ltd.SMS Co. Ltd.UNITED Inc./Japan(a)

ZIGExN Co. Ltd.(a)(b)

Comture Corp.Digital Garage Inc.DTS Corp.Future Corp.

26,800 841,16213,400 222,74720,100 755,7506,700 224,474

33,500 288,301

6,545,828IT Services — 2.5%

6,700 207,20720,100 843,62813,400 535,90113,400 178,223

Giken Ltd.(a)

Glory Ltd.Harmonic Drive Systems Inc.(a)

Hirata Corp.(a)

Hisaka Works Ltd.Hitachi Zosen Corp.Hosokawa Micron Corp.Iseki & Co. Ltd.Japan Steel Works Ltd. (The)Kitz Corp.Komori Corp.Kyokuto Kaihatsu Kogyo Co. Ltd.Makino Milling Machine Co. Ltd.

6,700 159,72233,500 994,40820,100 962,0326,700 491,5006,700 66,725

107,200 550,5786,700 421,197

13,400 244,20840,200 1,135,93853,600 480,02933,500 415,95620,100 313,95567,000 599,420




May 31, 2018


Max Co. Ltd.

Meidensha Corp.

METAWATER Co. Ltd.

Mitsubishi Logisnext Co. Ltd.

Mitsuboshi Belting Ltd.

Mitsui E&S Holdings Co. Ltd.(b)

Miura Co. Ltd.

Morita Holdings Corp.Nachi-Fujikoshi Corp.Namura Shipbuilding Co. Ltd.Nippon Sharyo Ltd.(b)

Nippon Thompson Co. Ltd.Nissei ASB Machine Co. Ltd.Nitta Corp.Nitto Kohki Co. Ltd.Nittoku Engineering Co. Ltd.Noritake Co. Ltd./Nagoya JapanNTN Corp.Obara Group Inc.(a)

Oiles Corp.OKUMA Corp.OSG Corp.Rheon Automatic Machinery Co. Ltd.Ryobi Ltd.Shibuya Corp.Shima Seiki Manufacturing Ltd.Shinmaywa Industries Ltd.Sintokogio Ltd.Sodick Co. Ltd.Star Micronics Co. Ltd.Tadano Ltd.Takeuchi Manufacturing Co. Ltd.Takuma Co. Ltd.Teikoku Sen-I Co. Ltd.(a)

Tocalo Co. Ltd.Toshiba Machine Co. Ltd.Tsubaki Nakashima Co. Ltd.Tsubakimoto Chain Co.Tsugami Corp.Tsukishima Kikai Co. Ltd.Tsurumi Manufacturing Co. Ltd.Union Tool Co.YAMABIKO Corp.Yamashin-Filter Corp.Yushin Precision Equipment Co. Ltd.


Machinery (continued)

13,400$

176,989

134,000

503,217

6,700

180,936

20,100

215,162

13,000

157,826

46,900

628,528

60,300

1,605,114

20,100

405,7196,700 321,911

33,500 160,33967,000 166,50640,200 317,1016,700 320,061

13,400 513,7016,700 164,9026,700 216,7666,700 336,711

268,000 1,144,5727,000 408,486

13,496 288,81413,400 785,66046,900 982,93813,400 275,90613,400 406,3976,700 225,399

13,400 762,22653,600 621,62126,800 255,06226,800 273,80926,800 450,92267,000 924,41420,100 461,40546,900 543,05513,400 286,14334,300 418,31267,000 375,56326,800 671,44967,000 524,80124,000 250,72520,100 334,67613,400 237,9186,700 236,808

20,100 265,66920,100 228,85313,400 170,329

33,762,667Marine — 0.3%

Proto Corp.

Septeni Holdings Co. Ltd.(a)

Shochiku Co. Ltd.

SKY Perfect JSAT Holdings Inc.

Toei Animation Co. Ltd.

Toei Co. Ltd.

Tokyo Broadcasting System Holdings Inc.

TV Asahi Holdings Corp.Vector Inc.(a)

Zenrin Co. Ltd.

Aichi Steel Corp.Asahi Holdings Inc.Daido Steel Co. Ltd.Dowa Holdings Co. Ltd.Godo Steel Ltd.(a)

Kyoei Steel Ltd.(a)

Mitsubishi Steel Manufacturing Co. Ltd.Mitsui Mining & Smelting Co. Ltd.Nakayama Steel Works Ltd.Neturen Co. Ltd.Nippon Denko Co. Ltd.Nippon Light Metal Holdings Co. Ltd.Nisshin Steel Co. Ltd.Nittetsu Mining Co. Ltd.Osaka Steel Co. Ltd.OSAKA Titanium Technologies Co. Ltd.Pacific Metals Co. Ltd.(b)

Sanyo Special Steel Co. Ltd.Toho Titanium Co. Ltd.Toho Zinc Co. Ltd.Tokyo Steel Manufacturing Co. Ltd.Topy Industries Ltd.Toyo Kohan Co. Ltd.UACJ Corp.(a)

Yamato Kogyo Co. Ltd.Yodogawa Steel Works Ltd.

Fuji Co. Ltd./EhimeH2O Retailing Corp.Izumi Co. Ltd.Kintetsu Department Store Co. Ltd.(b)

Matsuya Co. Ltd.Parco Co. Ltd.


Media (continued)

6,700$

99,903

53,600

122,351

6,700

949,082

87,100

393,632

6,900

224,506

6,700

727,074

26,800

569,079

13,400

287,87020,100 408,30920,100 476,576

7,393,767Metals & Mining — 2.1%

6,700 269,49220,100 370,56720,100 947,23233,700 1,068,5866,700 141,283

13,400 256,4196,700 139,865

40,200 1,764,9596,700 42,243

20,100 183,34173,700 221,822

395,300 924,16833,500 491,8086,700 331,7786,700 135,055

13,400 234,7116,700 224,474

13,400 345,22220,100 214,0526,700 264,251

67,000 545,7686,700 193,331

33,500 220,77420,114 458,58026,800 836,22813,400 344,852


13,400 284,17053,635 912,30626,800 1,665,0566,700 246,058

20,100 275,84413,400 161,079



149

Iino Kaiun Kaisha Ltd.Kawasaki Kisen Kaisha Ltd.(a)(b)

NS United Kaiun Kaisha Ltd.

Amuse Inc.Avex Inc.D.A. Consortium Holdings Inc.Daiichikosho Co. Ltd.Kadokawa Dwango(b)

Lifull Co. Ltd.Macromill Inc.

60,300 276,39953,600 1,105,1046,700 128,518

1,510,021Media — 1.4%

6,700 190,55620,100 280,46913,400 343,74226,800 1,253,10933,508 354,37233,500 239,89120,100 473,246

Seria Co. Ltd.

Cosmo Energy Holdings Co. Ltd.ITOCHU Enex Co. Ltd.Japan Petroleum Exploration Co. Ltd.San-Ai Oil Co. Ltd.

Daiken Corp.Daio Paper Corp.(a)

Hokuetsu Kishu Paper Co. Ltd.Nippon Paper Industries Co. Ltd.

26,800 1,297,510


40,200 1,370,89633,500 339,79520,100 513,39233,500 480,091


6,700 157,31746,900 673,42380,400 436,61560,300 1,017,349




May 31, 2018


Tokushu Tokai Paper Co. Ltd.

Ci:z Holdings Co. Ltd.

Euglena Co. Ltd.(a)(b)

Fancl Corp.

Kitanotatsujin Corp.

Mandom Corp.Milbon Co. Ltd.Noevir Holdings Co. Ltd.YA-MAN Ltd.(a)

ASKA Pharmaceutical Co. Ltd.Fuji Pharma Co. Ltd.JCR Pharmaceuticals Co. Ltd.Kaken Pharmaceutical Co. Ltd.Kissei Pharmaceutical Co. Ltd.KYORIN Holdings Inc.Mochida Pharmaceutical Co. Ltd.Nichi-Iko Pharmaceutical Co. Ltd.(a)

Nippon Shinyaku Co. Ltd.Rohto Pharmaceutical Co. Ltd.Sawai Pharmaceutical Co. Ltd.Seikagaku Corp.Sosei Group Corp.(a)(b)

Torii Pharmaceutical Co. Ltd.Towa Pharmaceutical Co. Ltd.Tsumura & Co.ZERIA Pharmaceutical Co. Ltd.

Altech Corp.BayCurrent Consulting Inc.Benefit One Inc.(a)

en-japan Inc.FULLCAST Holdings Co. Ltd.Funai Soken Holdings Inc.JAC Recruitment Co. Ltd.Link And Motivation Inc.(a)

Meitec Corp.Nihon M&A Center Inc.Nomura Co. Ltd.Outsourcing Inc.Pasona Group Inc.Tanseisha Co. Ltd.TechnoPro Holdings Inc.Trust Tech Inc.


Paper & Forest Products (continued)

6,700$

261,475


20,100

1,145,188

46,900

382,901

26,800

1,240,775

40,200

314,511

26,800

875,69613,400 649,98913,400 996,56720,100 482,126


13,400 158,2426,700 246,9836,700 427,364

20,100 1,115,58820,100 545,39826,800 559,9526,700 477,316

26,850 412,96333,500 2,408,16460,300 1,950,89126,800 1,180,34026,800 380,61913,400 899,1306,700 173,3516,700 420,581

40,200 1,467,09920,100 415,154


6,700 143,9356,700 259,317

20,100 547,43313,400 662,32213,400 348,05826,800 653,9356,700 133,575

20,100 265,85413,600 628,39593,800 3,090,83726,800 579,43946,900 900,91913,400 208,93426,800 344,11220,100 1,304,2946,700 201,657

Ichigo Inc.

Japan Asset Marketing Co. Ltd.(b)

Katitas Co. Ltd.

Kenedix Inc.

Leopalace21 Corp.

NTT Urban Development Corp.

Open House Co. Ltd.

Raysum Co. Ltd.Relo Group Inc.SAMTY Co. Ltd.Shinoken Group Co. Ltd.Sun Frontier Fudousan Co. Ltd.Takara Leben Co. Ltd.Tateru Inc.TOC Co. Ltd.Tosei Corp.Unizo Holdings Co. Ltd.(a)

Fukuyama Transporting Co. Ltd.Hamakyorex Co. Ltd.Hitachi Transport System Ltd.Nankai Electric Railway Co. Ltd.Nikkon Holdings Co. Ltd.Nishi-Nippon Railroad Co. Ltd.Sakai Moving Service Co. Ltd.(a)

Sankyu Inc.Seino Holdings Co. Ltd.Senko Group Holdings Co. Ltd.Sotetsu Holdings Inc.Tonami Holdings Co. Ltd.Trancom Co. Ltd.

Advantest Corp.Ferrotec Holdings Corp.Japan Material Co. Ltd.Lasertec Corp.Megachips Corp.(a)

Micronics Japan Co. Ltd.(a)

Mimasu Semiconductor Industry Co. Ltd.Mitsui High-Tec Inc.(a)

Optorun Co. Ltd.Sanken Electric Co. Ltd.SCREEN Holdings Co. Ltd.Shindengen Electric Manufacturing Co. Ltd.Shinko Electric Industries Co. Ltd.


Real Estate Management & Development (continued)

154,100$

727,630

87,100

107,427

13,400

492,117

167,500

1,080,745

160,800

1,110,037

80,400

842,888

20,300

1,281,771

6,700

120,62473,700 1,909,5736,700 130,4296,700 208,440

20,100 248,46353,600 207,70020,100 396,09840,200 323,39120,100 253,64413,400 268,876

11,344,629Road & Rail — 2.3%

20,100 1,013,8346,700 226,324

26,800 723,99167,000 1,871,64640,200 1,111,88740,200 1,060,0866,700 387,280

33,700 1,854,90493,800 1,769,89367,000 537,75146,900 1,357,637

800 56,6256,700 503,217


120,600 2,838,36520,100 408,30940,200 653,44226,800 916,39713,400 390,98020,100 211,2776,700 114,026

13,400 182,7866,700 228,791

67,000 397,76326,800 2,284,2106,700 380,496

46,900 397,147



150

UT Group Co. Ltd.(b)

WDB Holdings Co. Ltd.World Holdings Co. Ltd.YAMADA Consulting Group Co. Ltd.Yumeshin Holdings Co. Ltd.

Daibiru Corp.Daikyo Inc.(a)

Goldcrest Co. Ltd.Heiwa Real Estate Co. Ltd.

13,400 483,4836,700 187,7816,700 231,5666,700 186,548

26,800 265,176


33,500 358,91220,100 478,61113,400 240,50826,800 556,745

Tokyo Seimitsu Co. Ltd.Ulvac Inc.

Akatsuki Inc.Broadleaf Co. Ltd.Capcom Co. Ltd.COLOPL Inc.(a)

Computer Engineering & Consulting Ltd.Digital Arts Inc.Fuji Soft Inc.Fukui Computer Holdings Inc.

26,800 1,027,40126,800 1,195,140

11,626,530Software — 2.0%

6,700 292,61853,600 289,59653,600 1,262,48233,500 240,2006,700 227,2496,700 359,529

13,400 548,8526,700 116,801




May 31, 2018


GungHo Online Entertainment Inc.(a)

Gunosy Inc.(a)(b)

Justsystems Corp.

KLab Inc.

Koei Tecmo Holdings Co. Ltd.

Marvelous Inc.

Miroku Jyoho Service Co. Ltd.

Money Forward Inc.MTI Ltd.NSD Co. Ltd.OBIC Business Consultants Co. Ltd.PKSHA Technology Inc.(b)

Square Enix Holdings Co. Ltd.Systena Corp.

Adastria Co. Ltd.(a)

Alpen Co. Ltd.AOKI Holdings Inc.Aoyama Trading Co. Ltd.Arcland Sakamoto Co. Ltd.Asahi Co. Ltd.(a)

Autobacs Seven Co. Ltd.Bic Camera Inc.Chiyoda Co. Ltd.DCM Holdings Co. Ltd.EDION Corp.Geo Holdings Corp.IDOM Inc.JINS Inc.Joshin Denki Co. Ltd.Joyful Honda Co. Ltd.Keiyo Co. Ltd.(a)

Kohnan Shoji Co. Ltd.Komeri Co. Ltd.K's Holdings Corp.Laox Co. Ltd.(b)

LIXIL VIVA Corp.Nextage Co. Ltd.Nishimatsuya Chain Co. Ltd.Nojima Corp.PAL GROUP Holdings Co. Ltd.PC Depot Corp.Sac's Bar Holdings Inc.Sanrio Co. Ltd.(a)

Shimachu Co. Ltd.T-Gaia Corp.


Software (continued)

254,600$

677,246

6,700

102,863

20,100

434,765

20,100

306,555

26,840

539,048

20,100

172,611

13,400

378,646

6,700

331,77820,100 117,47926,800 583,3866,700 502,600

800 93,73753,800 2,678,98233,500 378,646


13,400 191,05013,400 293,91326,800 429,46126,800 952,16513,400 206,22013,400 163,17646,900 856,45667,000 1,060,70213,400 316,11467,000 674,03946,900 484,77820,100 286,76040,200 270,1098,000 447,697

13,700 489,26320,100 694,69820,100 99,34820,100 487,86120,100 513,947

100,500 1,221,04120,100 80,47813,600 236,83720,100 230,88833,500 365,07920,100 496,5576,700 171,933

20,140 107,70313,400 128,39433,500 619,15426,800 830,06113,400 376,796

Noritsu Koki Co. Ltd.

Riso Kagaku Corp.

Roland DG Corp.

Toshiba TEC Corp.Wacom Co. Ltd.

Descente Ltd.Fujibo Holdings Inc.Goldwin Inc.(a)

Gunze Ltd.Japan Wool Textile Co. Ltd. (The)Kurabo Industries Ltd.Onward Holdings Co. Ltd.Seiko Holdings Corp.Seiren Co. Ltd.TSI Holdings Co. Ltd.Unitika Ltd.(a)(b)

Wacoal Holdings Corp.Yondoshi Holdings Inc.

Aruhi Corp.

Advan Co. Ltd.Hanwa Co. Ltd.Inaba Denki Sangyo Co. Ltd.Inabata & Co. Ltd.Iwatani Corp.Japan Pulp & Paper Co. Ltd.Kamei Corp.Kanamoto Co. Ltd.Kanematsu Corp.MonotaRO Co. Ltd.(a)

Nagase & Co. Ltd.Nippon Steel & Sumikin Bussan Corp.Nishio Rent All Co. Ltd.Sojitz Corp.Trusco Nakayama Corp.Wakita & Co. Ltd.Yamazen Corp.Yuasa Trading Co. Ltd.

Mitsubishi Logistics Corp.Nissin Corp.Sumitomo Warehouse Co. Ltd. (The)



13,400$

238,535

13,400

300,080

6,700

148,375

67,000

405,163 93,800 526,651


20,100

387,4036,700 245,1336,700 555,635

13,400 863,36340,200 394,063

134,000 461,28267,000 549,46913,400 320,55433,500 617,30446,900 328,94140,200 231,25826,800 799,22713,400 346,825

6,100,457Thrifts & Mortgage Finance — 0.0%

13,400 215,224

Trading Companies & Distributors — 2.4%6,700 60,065

20,100 850,10413,600 595,84926,800 388,51326,800 950,9326,700 301,868

13,400 196,23020,100 701,17453,600 832,28140,200 1,620,65467,000 1,120,5216,844 354,027

13,400 443,398824,100 2,943,07926,800 671,94326,800 290,83040,200 413,67413,400 453,265


33,500 711,04013,400 324,13167,000 430,448

1,465,619



151

Tokyo Base Co. Ltd.(b)

United Arrows Ltd.VT Holdings Co. Ltd.Xebio Holdings Co. Ltd.Yellow Hat Ltd.

Eizo Corp.Elecom Co. Ltd.Maxell Holdings Ltd.MCJ Co. Ltd.Melco Holdings Inc.

13,400 119,63713,400 495,81753,600 256,54213,400 226,32413,400 397,147


13,400 575,9866,700 173,474

33,500 552,55220,100 327,8316,700 259,009



541,225,759


23,644,092 23,648,821




TOPIX Index


May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



9,394,924 14,249,168 23,644,092 $23,648,821

$314,950(a)

$(1,869)

$1,605

78,081 60,105 138,186 138,186 2,601 — —

$23,787,007

$317,551

$(1,869)

$1,605



Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$3,854 $ 39,587









138,186 $ 138,186

23,787,007

23,787,007

565,012,766(20,552,860)

$ 544,459,906

(a) All or a portion of this security is on loan.(b) Non-income producing security.(c) Affiliate of the Fund.(d) Annualized 7-day yield as of period-end.(e) All or a portion of this security was purchased with cash collateral received from

loaned securities.



152



Common Stocks

Money Market Funds

Futures Contracts


May 31, 2018




Investments

Assets

$541,225,759

$ —

$ —

$541,225,759

23,787,007

—

—

23,787,007

$565,012,766

$ —

$ —

$565,012,766


Assets

$ 39,587

$ —

$ —

$ 39,587




153



iShares® MSCI Malaysia ETFSchedule of Investments (unaudited)

May 31, 2018


AirAsia Group Bhd

UMW Holdings Bhd(a)(b)

Alliance Bank Malaysia Bhd

AMMB Holdings Bhd

CIMB Group Holdings BhdHong Leong Bank BhdHong Leong Financial Group BhdMalayan Banking Bhd(b)

Public Bank BhdRHB Bank BhdRHB Bank Bhd, New(a)(c)

Fraser & Neave Holdings Bhd

Petronas Chemicals Group Bhd(b)

Gamuda Bhd(b)

IJM Corp. Bhd

Telekom Malaysia Bhd(b)

Tenaga Nasional Bhd(b)

Dialog Group Bhd

Felda Global Ventures Holdings Bhd(b)

Genting Plantations BhdIOI Corp. BhdKuala Lumpur Kepong Bhd(b)

Nestle Malaysia BhdPPB Group BhdSime Darby Plantation Bhd(b)

Petronas Gas Bhd

Hartalega Holdings BhdTop Glove Corp. Bhd

IHH Healthcare Bhd(b)

Genting BhdGenting Malaysia Bhd(b)



5,953,500$

4,592,273

Automobiles — 0.5% 1,608,100 2,585,889

Banks — 32.9%

3,948,100

4,206,016

6,503,337

5,800,715

18,077,012

26,797,5812,552,640 12,301,416

903,100 4,288,59014,904,281 36,174,71211,410,280 68,404,3423,914,902 5,252,6581,621,200 4

163,226,034Beverages — 1.0%

501,500 4,765,510

Chemicals — 3.8%9,414,800 19,042,497

Construction & Engineering — 2.3%7,700,400 6,462,145

11,383,280 4,833,604


4,423,000 4,078,495


Energy Equipment & Services — 2.4%14,364,254 11,729,604

Food Products — 11.1%6,424,400 2,534,248

947,200 2,260,9047,417,830 8,629,2851,680,800 10,515,558

229,900 8,549,0451,862,166 9,320,1889,324,555 12,979,406


2,714,700 11,991,062

Health Care Equipment & Supplies — 3.0%5,193,300 7,959,5802,754,900 7,101,828


9,687,700 14,604,573

Hotels, Restaurants & Leisure — 6.7%8,331,000 18,399,369

11,650,300 14,577,511

Sime Darby Bhd(b)

My EG Services Bhd

MISC Bhd

Astro Malaysia Holdings Bhd(b)

Press Metal Aluminium Holdings Bhd(b)

YTL Corp. Bhd

Petronas Dagangan Bhd

IOI Properties Group BhdSime Darby Property BhdSP Setia Bhd Group

British American Tobacco Malaysia Bhd(b)

Malaysia Airports Holdings BhdWestports Holdings Bhd

Axiata Group Bhd(b)

DiGi.Com Bhd(b)

Maxis Bhd(b)








Industrial Conglomerates (continued) 9,322,455 $ 5,715,274

11,737,595IT Services — 0.4%

8,474,600 1,895,074

Marine — 1.3% 4,436,920 6,543,900

Media — 0.4% 5,142,100 1,808,779

Metals & Mining — 1.3%5,300,900 6,299,813

Multi-Utilities — 0.6%12,839,262 3,064,648


Real Estate Management & Development — 2.1%6,493,925 2,577,990

11,965,555 3,457,3845,896,700 4,563,276

10,598,650Tobacco — 0.9%

559,600 4,547,101

Transportation Infrastructure — 2.1%3,325,100 6,959,3174,066,300 3,524,808


10,644,600 11,660,91912,196,600 13,544,9689,164,800 13,332,711

38,538,598


14,249,614 14,252,464

150,918 150,918

14,403,382

14,403,382

509,772,098(14,134,091)

$ 495,638,007


3 in the fair value hierarchy.



154

HAP Seng Consolidated Bhd

32,976,880Industrial Conglomerates — 2.4%

2,445,800 6,022,321




Common Stocks

Money Market Funds

iShares® MSCI Malaysia ETF Schedule of Investments (unaudited) (continued)

May 31, 2018


loaned securities.

Affiliates


Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



12,721,787 1,527,827 14,249,614 $14,252,464

$348,745(a)

$(3,287)

$(806)

290,485 (139,567) 150,918 150,918 6,135 — —

$14,403,382

$354,880

$(3,287)

$(806)





Investments

Assets

$495,368,712

$ —

$ 4

$495,368,716

14,403,382

—

—

14,403,382

$509,772,094

$ —

$ 4

$509,772,098



155



iShares® MSCI Mexico ETFSchedule of Investments (unaudited)

May 31, 2018


Controladora Vuela Cia. de Aviacion SAB de CV,Class A(a)(b)

Grupo Aeromexico SAB de CV(a)(b)

Rassini SAB de CV

Banco del Bajio SA(c)

Banco Santander Mexico SA Institucion de BancaMultiple Grupo Financiero Santand, Class B(b)

Grupo Financiero Banorte SAB de CV, Class OGrupo Financiero Inbursa SAB de CV, Class O(b)

Grupo Financiero Interacciones SA de CV, Series ORegional SAB de CV

Arca Continental SAB de CV(b)

Coca-Cola Femsa SAB de CV, Series L, NVSFomento Economico Mexicano SAB de CV

Elementia SAB de CV(a)(b)(c)

Bolsa Mexicana de Valores SAB de CV

Mexichem SAB de CV

Cemex SAB de CV, CPO(a)

Grupo Cementos de Chihuahua SAB de CV

Credito Real SAB de CV SOFOM ER(b)

Gentera SAB de CV(b)

Unifin Financiera SAB de CV SOFOM ENR

Axtel SAB de CV, CPO(a)(b)

Telesites SAB de CV(a)(b)

Concentradora Fibra Danhos SA de CVConcentradora Fibra Hotelera Mexicana SA de CV(c)

Fibra Uno Administracion SA de CVMacquarie Mexico Real Estate Management SA deCVPLA Administradora Industrial S. de RL de CVPrologis Property Mexico SA de CV

Grupo Comercial Chedraui SA de CVLa Comer SAB de CV(a)(b)

Wal-Mart de Mexico SAB de CV



4,430,800$

2,280,447 2,132,843 2,595,127


593,299 2,059,844

Banks — 13.8%

4,347,830

8,212,307

11,532,350 15,040,39213,380,578 71,006,84514,283,792 20,106,255

836,900 3,764,1351,591,700 8,838,801

126,968,735Beverages — 12.6%

2,711,729 16,216,9322,196,747 12,828,737

10,528,710 87,465,673


86,894 53,971

Capital Markets — 0.5%3,048,387 4,952,083

Chemicals — 2.0%6,529,118 18,332,191

Construction Materials — 4.7%71,055,429 42,109,761

150,200 788,212

42,897,973Consumer Finance — 1.2%

1,949,274 2,369,8236,595,206 4,966,4091,160,548 3,284,635


9,975,682 2,058,7029,693,346 6,829,575


2,153,000 3,275,9117,218,890 4,101,396

18,299,041 25,173,023

5,880,400 6,026,6145,605,800 7,958,1052,875,400 5,004,406


2,589,800 5,101,3334,232,555 4,115,724

28,068,833 70,212,757

Grupo Bimbo SAB de CV, Series A(b)

Grupo Herdez SAB de CV

Grupo Lala SAB de CV(b)

Industrias Bachoco SAB de CV, Series B

Infraestructura Energetica Nova SAB de CV

Alsea SAB de CVHoteles City Express SAB de CV(a)(b)

Consorcio ARA SAB de CV

Kimberly-Clark de Mexico SAB de CV, Class A

Alfa SAB de CV, Class AGrupo Carso SAB de CV, Series A1

Qualitas Controladora SAB de CV(b)

Grupo Rotoplas SAB de CV(b)

Grupo Televisa SAB, CPOTV Azteca SAB de CV, CPO(b)

Grupo Mexico SAB de CV, Class BIndustrias CH SAB de CV, Series B(a)

Industrias Penoles SAB de CVMinera Frisco SAB de CV, Series A1(a)(b)

Concentradora Hipotecaria SAPI de CV(b)

El Puerto de Liverpool SAB de CV, Series C1, NVS(b)

Genomma Lab Internacional SAB de CV, Class B(a)(b)

Corp Inmobiliaria Vesta SAB de CVGrupo GICSA SA de CV(a)(b)

Grupo Aeroportuario del Centro Norte SAB de CVGrupo Aeroportuario del Pacifico SAB de CV, SeriesBGrupo Aeroportuario del Sureste SAB de CV, Class BPromotora y Operadora de Infraestructura SAB deCV



10,194,404$

19,387,930

1,936,670

3,815,779

1,127,060

1,223,792 1,366,300 6,219,640


3,125,800 13,017,138

Hotels, Restaurants & Leisure — 1.6%3,359,766 10,981,3063,250,900 3,945,772


7,975,719 2,566,590

Household Products — 1.7%9,634,854 15,979,133

Industrial Conglomerates — 3.0%17,673,151 18,086,0933,057,633 9,498,763

27,584,856Insurance — 0.5%

1,653,200 4,217,178

Machinery — 0.2%1,620,504 1,984,697

Media — 4.5%12,027,947 40,028,24613,694,522 1,799,714

41,827,960Metals & Mining — 6.4%

15,664,686 38,761,7301,129,783 4,899,656

879,023 14,797,08983,665 31,397

58,489,872Mortgage Real Estate Investment — 0.2%

2,763,000 2,072,347

Multiline Retail — 0.8%1,248,865 7,058,580

Pharmaceuticals — 0.5%

5,841,093 4,932,665



1,773,592 8,453,019

2,227,649 18,916,6051,282,550 20,294,032

1,472,460 13,192,425



156

Gruma SAB de CV, Series B


1,377,515 14,396,438

60,856,081




MEX BOLSA Index

iShares® MSCI Mexico ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income



27,657,667 (1,633,784) 26,023,883 $26,029,088

$306,361(a)

$821

$(2,499)

431,254 (431,254) — —

7,160

—

—

$26,029,088

$313,521

$821

$(2,499)



Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$4,879 $ (61,644)



America Movil SAB de CV, Series L, NVSTotal Common Stocks — 99.7%(Cost: $1,385,114,986)






Wireless Telecommunication Services — 15.6%186,201,818 $ 144,216,994

919,067,492


26,023,883 26,029,088

26,029,088

945,096,580(22,759,443)

$ 922,337,137




loaned securities.



157



Common Stocks

Money Market Funds

Futures Contracts

CPONVS

iShares® MSCI Mexico ETF Schedule of Investments (unaudited) (continued)

May 31, 2018




Investments

Assets

$919,067,492

$ —

$ —

$919,067,492

26,029,088

—

—

26,029,088

$945,096,580

$ —

$ —

$945,096,580


Liabilities

$ (61,644)

$ —

$ —

$ (61,644)


Portfolio Abbreviations - EquityCertificates of Participation (Ordinary)Non-Voting Shares



158



iShares® MSCI Netherlands ETFSchedule of Investments (unaudited)

May 31, 2018


PostNL NV

ABN AMRO Group NV, CVA(a)

ING Groep NV

Coca-Cola European Partners PLC, NVSHeineken Holding NVHeineken NV

Pharming Group NV(b)

BinckBank NVFlow Traders(a)

Akzo Nobel NVCorbion NVKoninklijke DSM NVOCI NV(b)(c)

Arcadis NVBoskalis Westminster(c)

Koninklijke BAM Groep NV(c)

Koninklijke Volkerwessels NV

SNS REAAL NV(c)(d)

Koninklijke KPN NV

Kendrion NVSIF Holding NVSignify NV(a)

TKH Group NV

Fugro NV(b)(c)

SBM Offshore NV

Eurocommercial Properties NVNSI NVVastned Retail NVWereldhave NV

Koninklijke Ahold Delhaize NV



189,284$

657,551

Banks — 11.6%

146,563

3,801,4631,195,408 17,383,886

21,185,349Beverages — 5.7%

58,215

2,210,42418,461 1,795,07563,760 6,373,931


44,455 71,663

Capital Markets — 0.5%57,945 300,65616,053 681,338

981,994Chemicals — 8.3%

83,039 7,279,54927,601 864,74861,109 6,076,10435,133 962,522


38,047 769,22036,409 1,004,70587,236 407,3222,351 59,552


68,952 1


Electrical Equipment — 1.0%11,804 497,4152,958 62,8422,281 65,048

17,975 1,206,477


35,938 566,12172,395 1,142,953


20,978 865,39212,359 504,93311,572 567,33618,292 690,959


360,535 8,271,433

Wessanen

Koninklijke Philips NV

Basic-Fit NV(a)(b)

TomTom NV(b)

Aegon NVASR Nederland NVNN Group NV

Takeaway.com NV(a)(b)

InterXion Holding NV(b)

Accell Group

Aalberts Industries NV

AMG Advanced Metallurgical Group NVConstellium NV, Class A(b)

Koninklijke Vopak NV

Unilever NV

Brunel International NVIntertrust NV(a)

Randstad NVRELX NVWolters Kluwer NV

ASM International NVASML Holding NVBE Semiconductor Industries NVNXP Semiconductors NV(b)

Gemalto NV(b)

AerCap Holdings NV(b)

IMCD NV




40,477$

838,666

916,486Health Care Equipment & Supplies — 4.4%

195,626 7,996,963

Hotels, Restaurants & Leisure — 0.1% 3,970 127,903

Household Durables — 0.3% 56,871 547,813

Insurance — 5.4%613,231 3,812,48037,306 1,576,412

103,673 4,448,602


1,386 80,813

IT Services — 1.0%28,655 1,829,908

Leisure Products — 0.2%16,361 344,149

Machinery — 1.0%38,858 1,898,725

Metals & Mining — 0.2%3,433 197,1617,332 89,084

286,245Oil, Gas & Consumable Fuels — 0.8%

28,523 1,398,385


Professional Services — 8.7%19,207 355,81023,195 435,91642,638 2,541,324

320,575 6,990,18999,546 5,582,249


19,882 1,156,467125,672 24,557,06032,009 1,074,592

103,628 11,813,592

38,601,711Software — 1.0%

30,240 1,769,899

Trading Companies & Distributors — 2.3%50,687 2,803,49821,259 1,316,469

4,119,967

181,599,754



159

ForFarmers NVFood Products — 0.5%

5,777 77,820




Euro STOXX 50

iShares® MSCI Netherlands ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



1,224,613 1,507,718 2,732,331 $2,732,877

$23,573(a)

$(21)

$(148)

32,493 60,629 93,122 93,122 1,195 — —

$2,825,999

$24,768

$(21)

$(148)



Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$1,273 $ (10,090)










2,732,331 $ 2,732,877

93,122 93,122

2,825,999

2,825,999

184,425,753(1,507,792)

$ 182,917,961


(b) Non-income producing security.(c) All or a portion of this security is on loan.(d) Security is valued using significant unobservable inputs and is classified as Level

3 in the fair value hierarchy.(e) Affiliate of the Fund.(f) Annualized 7-day yield as of period-end.(g) All or a portion of this security was purchased with cash collateral received from

loaned securities.



160



Common Stocks

Money Market Funds

Futures Contracts

NVS

iShares® MSCI Netherlands ETF Schedule of Investments (unaudited) (continued)

May 31, 2018




Investments

Assets

$181,599,753

$ —

$ 1

$181,599,754

2,825,999

—

—

2,825,999

$184,425,752

$ —

$ 1

$184,425,753


Liabilities

$ (10,090)

$ —

$ —

$ (10,090)





161



iShares® MSCI Pacific ex Japan ETFSchedule of Investments (unaudited)

May 31, 2018


AGL Energy Ltd.

Alumina Ltd.


AMP Ltd.

APA Group

Aristocrat Leisure Ltd.

ASX Ltd.Aurizon Holdings Ltd.AusNet ServicesAustralia & New Zealand Banking Group Ltd.Bank of Queensland Ltd.Bendigo & Adelaide Bank Ltd.BGP Holdings PLC(a)(b)

BHP Billiton Ltd.BlueScope Steel Ltd.Boral Ltd.Brambles Ltd.Caltex Australia Ltd.Challenger Ltd./AustraliaCIMIC Group Ltd.Coca-Cola Amatil Ltd.Cochlear Ltd.Commonwealth Bank of AustraliaComputershare Ltd.Crown Resorts Ltd.CSL Ltd.DexusDomino's Pizza Enterprises Ltd.(c)

Flight Centre Travel Group Ltd.Fortescue Metals Group Ltd.Goodman GroupGPT Group (The)Harvey Norman Holdings Ltd.Healthscope Ltd.Incitec Pivot Ltd.Insurance Australia Group Ltd.James Hardie Industries PLCLendLease GroupMacquarie Group Ltd.Medibank Pvt Ltd.Mirvac GroupNational Australia Bank Ltd.Newcrest Mining Ltd.Oil Search Ltd.Orica Ltd.Origin Energy Ltd.(b)

QBE Insurance Group Ltd.Ramsay Health Care Ltd.REA Group Ltd.



976,760$

16,333,347

3,642,871

7,387,094

1,729,204

18,396,135

4,362,094

12,872,256

1,750,554

11,510,398

857,405

19,488,615

290,436

13,323,9522,988,267 9,745,2212,688,086 3,305,1534,363,002 89,827,434

583,735 4,474,250722,518 5,882,419

27,004,595 3154,790,292 118,849,797

831,219 10,931,0101,743,674 8,272,3302,373,699 16,218,416

390,341 8,689,242826,408 8,060,138146,099 4,556,698768,206 5,161,61685,661 12,713,540

2,614,481 137,092,522690,951 9,065,492560,550 5,641,064674,937 94,911,938

1,511,473 11,310,75892,123 3,431,57182,633 3,852,745

2,321,225 8,237,3052,439,794 17,242,2952,658,043 10,116,378

836,255 2,277,9092,607,997 4,637,3512,486,120 6,471,0623,535,145 21,746,673

659,357 11,060,668870,111 12,364,179482,686 41,756,102

4,103,136 9,096,5895,493,470 9,560,2594,055,293 82,234,1251,145,011 17,985,8952,045,500 12,799,707

565,891 7,565,9662,625,848 19,073,7402,029,781 14,559,705

210,535 9,769,94978,089 5,070,173

Tabcorp Holdings Ltd.

Telstra Corp. Ltd.

TPG Telecom Ltd.(c)

Transurban Group

Treasury Wine Estates Ltd.

Vicinity Centres

Wesfarmers Ltd.

Westpac Banking Corp.Woodside Petroleum Ltd.Woolworths Group Ltd.

AIA Group Ltd.ASM Pacific Technology Ltd.Bank of East Asia Ltd. (The)BOC Hong Kong Holdings Ltd.CK Asset Holdings Ltd.CK Hutchison Holdings Ltd.CK Infrastructure Holdings Ltd.CLP Holdings Ltd.Dairy Farm International Holdings Ltd.Galaxy Entertainment Group Ltd.Hang Lung Group Ltd.Hang Lung Properties Ltd.Hang Seng Bank Ltd.Henderson Land Development Co. Ltd.HK Electric Investments & HK Electric InvestmentsLtd.(c)(d)

HKT Trust & HKT Ltd.Hong Kong & China Gas Co. Ltd.Hong Kong Exchanges & Clearing Ltd.Hongkong Land Holdings Ltd.Hysan Development Co. Ltd.Jardine Matheson Holdings Ltd.Jardine Strategic Holdings Ltd.Kerry Properties Ltd.Li & Fung Ltd.Link REITMelco Resorts & Entertainment Ltd., ADRMGM China Holdings Ltd.(c)

Minth Group Ltd.(c)

MTR Corp. Ltd.New World Development Co. Ltd.NWS Holdings Ltd.PCCW Ltd.Power Assets Holdings Ltd.Sands China Ltd.Shangri-La Asia Ltd.Sino Land Co. Ltd.


Australia (continued)

2,856,653$

9,445,696

6,211,156

13,159,079

547,123

2,305,872

3,320,712

29,824,761

1,070,372

13,428,092

4,885,545

9,870,049

1,691,329

58,305,141

5,077,553

106,997,7651,343,721 32,952,1061,947,803 41,944,495

1,468,699,068Hong Kong — 30.8%

18,009,614 165,306,911454,900 5,973,203

1,852,520 7,687,1975,522,500 27,773,8983,862,232 32,250,3014,029,232 45,484,660

986,708 7,446,7102,447,500 25,710,115

494,300 4,236,1513,540,000 31,161,6941,322,000 4,095,3583,026,736 6,868,2911,141,200 28,558,5511,791,002 11,781,481

4,030,500 3,894,7745,636,338 7,077,622

12,513,237 27,055,1301,743,000 56,395,3261,757,500 12,759,450

925,830 5,352,574324,600 20,268,024333,000 11,921,400970,500 5,190,170

8,881,200 3,453,2313,256,586 28,812,181

369,996 12,084,0691,409,600 4,097,1781,110,000 5,108,3932,240,786 12,612,0369,036,921 13,870,7862,309,000 4,297,6496,239,867 3,675,1192,067,500 14,377,8643,626,000 21,702,8871,875,000 3,748,0164,810,800 8,328,584



162

Rio Tinto Ltd.Santos Ltd.(b)

Scentre GroupSeek Ltd.Sonic Healthcare Ltd.South32 Ltd.StocklandSuncorp Group Ltd.Sydney Airport

615,204 38,622,0462,644,350 11,724,9667,936,098 25,100,267

497,695 7,606,935596,219 10,628,602

7,728,260 21,753,0273,615,739 11,353,7731,938,470 19,698,3631,642,313 9,046,537

SJM Holdings Ltd.Sun Hung Kai Properties Ltd.Swire Pacific Ltd., Class ASwire Properties Ltd.Techtronic Industries Co. Ltd.WH Group Ltd.(d)

Wharf Holdings Ltd. (The)Wharf Real Estate Investment Co. Ltd.Wheelock & Co. Ltd.Wynn Macau Ltd.

2,960,000 4,248,9752,372,000 38,282,695

743,500 7,668,0271,732,400 6,791,2142,053,207 12,315,342

13,115,000 13,459,1701,825,600 5,899,8061,810,600 13,976,2541,214,000 9,146,6122,316,000 8,887,082



BlackRock Cash Funds: Institutional, SL AgencyShares

iShares® MSCI Pacific ex Japan ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



44,795,138 (28,754,197) 16,040,941 $16,044,149

$378,713(a)

$(8,451)

$(1,663)

Yue Yuen Industrial Holdings Ltd.

a2 Milk Co. Ltd.(b)

Auckland International Airport Ltd.

Fisher & Paykel Healthcare Corp. Ltd.

Fletcher Building Ltd.

Meridian Energy Ltd.Ryman Healthcare Ltd.Spark New Zealand Ltd.

Ascendas REITCapitaLand Commercial TrustCapitaLand Ltd.CapitaLand Mall TrustCity Developments Ltd.ComfortDelGro Corp. Ltd.DBS Group Holdings Ltd.Genting Singapore PLCGolden Agri-Resources Ltd.Hutchison Port Holdings TrustJardine Cycle & Carriage Ltd.Keppel Corp. Ltd.Oversea-Chinese Banking Corp. Ltd.(c)

SATS Ltd.Sembcorp Industries Ltd.Singapore Airlines Ltd.Singapore Exchange Ltd.Singapore Press Holdings Ltd.(c)

Singapore Technologies Engineering Ltd.Singapore Telecommunications Ltd.StarHub Ltd.Suntec REITUnited Overseas Bank Ltd.


Hong Kong (continued)

1,110,000$

3,431,538

814,523,699New Zealand — 1.7%

1,089,148

8,306,862

1,420,741

6,579,295

855,316

7,969,759

1,277,701

5,907,928

1,891,071

3,960,707593,862 4,750,189

2,748,537 7,058,350

44,533,090Singapore — 11.1%

3,735,825 7,402,0983,754,093 4,799,8053,848,000 9,954,8243,718,500 5,755,202

610,500 5,116,9803,200,700 5,887,1152,677,000 56,784,5459,034,200 8,511,0419,766,087 2,300,136

333,300 91,658148,000 3,802,221

2,169,700 12,507,6734,691,524 43,987,9701,000,000 3,858,0881,461,940 3,202,725

812,400 6,851,7491,202,200 6,507,8532,427,617 4,773,7362,316,900 6,028,496

12,156,028 29,811,78512,500 18,038

3,232,900 4,350,9811,994,600 41,966,462

UOL Group Ltd.

Venture Corp. Ltd.

Wilmar International Ltd.Yangzijiang Shipbuilding Holdings Ltd.



BlackRock Cash Funds: Treasury, SL AgencyShares, 1.64%(e)(f)






749,100$

4,547,977

406,100

6,406,752

2,837,000

6,872,691 3,588,900 2,589,471

294,688,072


16,040,941 16,044,149

893,881 893,881

16,938,030

16,938,030

2,639,381,959

6,500,970

$2,645,882,929

(a) Security is valued using significant unobservable inputs and is classified as Level3 in the fair value hierarchy.

(b) Non-income producing security.(c) All or a portion of this security is on loan.(d) Security exempt from registration pursuant to Rule 144A under the Securities Act



loaned securities.



BlackRock Cash Funds: Treasury, SL AgencyShares 800,222 93,659 893,881 893,881

22,104

—

—

$16,938,030

$400,817

$(8,451)

$(1,663)


163



ASX SPI 200 IndexHang Seng IndexMSCI Singapore Index

Common StocksMoney Market Funds

Futures Contracts

Futures Contracts

ADR

iShares® MSCI Pacific ex Japan ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Futures Contracts


Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$14,680 $ 33,475

26 06/28/18 5,054 84,240125 06/28/18 3,659 (15,897)

$ 101,818




Investments

Assets

$2,622,443,614 $ — $ 315 $2,622,443,929 16,938,030 — — 16,938,030

$2,639,381,644 $ — $ 315 $2,639,381,959


Assets

$ 117,715

$ —

$ —

$ 117,715

Liabilities

(15,897) — — (15,897)

$ 101,818

$—

$—

$ 101,818


Portfolio Abbreviations - EquityAmerican Depositary Receipt



164




iShares® MSCI Russia ETFSchedule of Investments (unaudited)

May 31, 2018



Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



1,026,049 (477,874) 548,175 $548,175

$19,485

$—

$—


Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regardingvaluation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at www.iShares.com

Sberbank of Russia PJSC

Sberbank of Russia PJSC, ADR

VTB Bank PJSCVTB Bank PJSC, GDR, NVS(a)

Moscow Exchange MICEX-RTS PJSC

PhosAgro PJSC, GDR, NVS(a)

Inter RAO UES PJSCRusHydro PJSC

Magnit PJSC, GDR, NVS(a)

X5 Retail Group NV, GDR(a)

Alrosa PJSCMagnitogorsk Iron & Steel Works PJSCMMC Norilsk Nickel PJSCNovolipetsk Steel PJSCPolyus PJSCSeverstal PJSC

Gazprom PJSC, ADR, NVSGazprom PJSCLUKOIL PJSCLUKOIL PJSC, ADR, NVSNovatek PJSC, GDR, NVS(a)

Rosneft Oil Co. PJSC, GDR, NVS(a)

Rosneft Oil Co. PJSC



17,691,520$

63,116,383

1,418,771

20,401,927

10,586,456,000

8,473,921 80,322 127,471


6,000,220 10,838,952

Chemicals — 1.7%611,570 8,133,881



1,063,182 21,380,590226,975 6,584,105

27,964,695Metals & Mining — 16.7%

9,956,349 14,105,26011,694,200 9,210,514

123,333 21,986,3304,974,865 13,022,329

132,034 7,943,965823,455 13,248,737


836,543 3,799,57823,350,280 54,322,580

982,980 66,381,01732,321 2,157,103

160,248 23,091,7371,840,909 11,229,5451,363,360 8,428,103

Surgutneftegas OJSC, ADR, NVS

Surgutneftegas OJSCTatneft PJSC

Mobile TeleSystems PJSC, ADR, NVSTotal Common Stocks — 95.9%(Cost: $460,529,627)

Surgutneftegas OJSC, Preference Shares, NVSTransneft PJSC, Preference Shares








344,941$

1,534,988

19,838,646

9,112,838 2,066,946 22,102,916


1,735,740 16,628,389

455,340,458Preferred StocksOil, Gas & Consumable Fuels — 3.3%

22,392,549 10,950,6221,779 4,869,398

15,820,020


548,175 548,175

548,175

471,708,653

3,138,496

$474,847,149

(a) This security may be resold to qualified foreign investors and foreign institutionalbuyers under Regulation S of the Securities Act of 1933.

(b) Affiliate of the Fund.(c) Annualized 7-day yield as of period-end.



and on the U.S. Securities and Exchange Commission website at www.sec.gov.

165



Common Stocks

Preferred Stocks

Money Market Funds

ADRGDRNVS

iShares® MSCI Russia ETF Schedule of Investments (unaudited) (continued)

May 31, 2018




Investments

Assets

$455,340,458

$ —

$ —

$455,340,458

15,820,020

—

—

15,820,020

548,175

—

—

548,175

$471,708,653

$ —

$ —

$471,708,653




166



BlackRock Cash Funds: Institutional, SL AgencyShares


iShares® MSCI Singapore ETFSchedule of Investments (unaudited)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income



17,309,109 (8,541,659) 8,767,450$

8,769,203

$61,725(a)

$2,841

$(2,423)

226,142 2,677,803 2,903,945 2,903,945 8,746 — —

$11,673,148

$70,471

$2,841

$(2,423)

Singapore Technologies Engineering Ltd.

Singapore Airlines Ltd.

DBS Group Holdings Ltd.Oversea-Chinese Banking Corp. Ltd.(a)

United Overseas Bank Ltd.

Singapore Exchange Ltd.

Jardine Cycle & Carriage Ltd.

Singapore Telecommunications Ltd.

Venture Corp. Ltd.

Ascendas REITCapitaLand Commercial TrustCapitaLand Mall Trust(a)

Suntec REIT

Golden Agri-Resources Ltd.Wilmar International Ltd.

Genting Singapore PLC

Keppel Corp. Ltd.Sembcorp Industries Ltd.

Yangzijiang Shipbuilding Holdings Ltd.



7,958,300$

20,707,229

Airlines — 2.9% 2,684,867 22,644,061

Banks — 44.7% 6,536,400 138,650,16911,359,850 106,510,538 4,812,700 101,259,395


3,939,600 21,326,183

Distributors — 1.8%535,044 13,745,644


Electronic Equipment, Instruments & Components — 2.7%1,306,800 20,616,457

Equity Real Estate Investment Trusts (REITs) — 9.2%12,183,881 24,140,9288,350,283 10,676,275

12,510,400 19,362,61412,836,700 17,276,205


42,895,828 10,102,9478,997,600 21,796,870


28,602,500 26,946,166

Industrial Conglomerates — 5.9%5,844,900 33,694,1045,703,600 12,495,082

46,189,186Machinery — 1.3%

14,052,400 10,139,120

Singapore Press Holdings Ltd.(a)

CapitaLand Ltd.City Developments Ltd.UOL Group Ltd.

ComfortDelGro Corp. Ltd.

Hutchison Port Holdings TrustSATS Ltd.(a)

StarHub Ltd.Total Common Stocks — 99.7%(Cost: $748,312,321)

BlackRock Cash Funds: Institutional, SL AgencyShares, 1.98%(b)(c)(d)






Media — 1.6% 6,178,700 $ 12,149,973

Real Estate Management & Development — 7.4% 9,503,600 24,585,933 2,078,700 17,422,877 2,587,200 15,707,551

57,716,361Road & Rail — 2.7%

11,293,500 20,772,373

Transportation Infrastructure — 1.9%1,327,600 365,0903,769,600 14,543,449


60,800 87,737


8,767,450 8,769,203

2,903,945 2,903,945

11,673,148

11,673,148

784,876,582(9,272,587)

$ 775,603,995

(a) All or a portion of this security is on loan.(b) Affiliate of the Fund.(c) Annualized 7-day yield as of period-end.(d) All or a portion of this security was purchased with cash collateral received from

loaned securities.




167



MSCI Singapore Index

Common Stocks

Money Market Funds

Futures Contracts

iShares® MSCI Singapore ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Futures Contracts


Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$7,289 $ (170,175)




Investments

Assets

$773,203,434

$ —

$ —

$773,203,434

11,673,148

—

—

11,673,148

$784,876,582

$ —

$ —

$784,876,582


Liabilities

$ (170,175)

$ —

$ —

$ (170,175)




168



iShares® MSCI South Africa ETFSchedule of Investments (unaudited)

May 31, 2018


Barclays Africa Group Ltd.

Capitec Bank Holdings Ltd.

Nedbank Group Ltd.Standard Bank Group Ltd.

Coronation Fund Managers Ltd.Investec Ltd.Reinet Investments SCA(a)

Sasol Ltd.

Imperial Holdings Ltd.

FirstRand Ltd.PSG Group Ltd.Remgro Ltd.RMB Holdings Ltd.

Telkom SA SOC Ltd.

Fortress REIT Ltd., Series AFortress REIT Ltd., Series BGrowthpoint Properties Ltd.Hyprop Investments Ltd.Redefine Properties Ltd.Resilient REIT Ltd.

Bid Corp. Ltd.Clicks Group Ltd.Pick n Pay Stores Ltd.Shoprite Holdings Ltd.SPAR Group Ltd. (The)

Pioneer Foods Group Ltd.Tiger Brands Ltd.

Life Healthcare Group Holdings Ltd.Netcare Ltd.

Steinhoff International Holdings NV, Class H(a)

Bidvest Group Ltd. (The)



937,616$

11,969,503

63,764

4,402,510

320,621

6,926,3251,689,721 27,670,599


427,431

2,109,650462,479 3,364,247114,250 2,150,588

7,624,485Chemicals — 6.0%

722,838 26,111,203

Distributors — 0.9%233,993 3,771,232


239,378 4,116,205717,624 11,559,044

1,018,818 5,842,618


545,027 2,230,888

Equity Real Estate Investment Trusts (REITs) — 5.9%2,041,228 2,694,7761,501,751 1,754,9084,266,017 9,161,916

412,827 3,373,6757,375,866 6,388,729

462,456 2,087,168


464,580 9,314,343238,916 3,810,394616,371 3,659,779605,897 11,197,971294,781 4,486,304


251,926 2,138,337232,547 6,167,591


2,064,842 4,646,5061,719,012 4,018,945


2,039,550 180,363

Industrial Conglomerates — 1.8%474,110 7,561,802

MMI Holdings Ltd./South Africa

Rand Merchant Investment Holdings Ltd.Sanlam Ltd.

Naspers Ltd., Class N

Anglo American Platinum Ltd.AngloGold Ashanti Ltd.Gold Fields Ltd.Kumba Iron Ore Ltd.

Woolworths Holdings Ltd./South Africa


Mondi Ltd.Sappi Ltd.

Aspen Pharmacare Holdings Ltd.

NEPI Rockcastle PLC

Foschini Group Ltd. (The)Mr. Price Group Ltd.Truworths International Ltd.

MTN Group Ltd.Vodacom Group Ltd.








1,696,581$

2,505,019

1,109,934

3,365,2951,936,838 11,630,204

26,117,692Media — 21.7%

394,274 94,202,379


99,084

2,628,601608,957 5,191,881

1,256,854 4,483,590114,359 2,620,099


1,424,189 6,560,378


Paper & Forest Products — 2.5%186,282 5,158,533830,640 5,458,679


528,206 10,426,490


Specialty Retail — 3.7%335,905 4,886,470346,311 6,863,329664,216 4,409,576


2,224,202 20,108,261831,579 9,422,155

29,530,416


174,608 174,608

174,608

433,642,982

4,363

$433,647,345




169

Discovery Ltd.Liberty Holdings Ltd.

Insurance — 6.0%511,723 6,228,354249,069 2,388,820




Common Stocks

Money Market Funds

iShares® MSCI South Africa ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates


Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



— 0 (a) —$

—

$24,910(b)

$(1,147)

$—

225,602 (50,994) 174,608 174,608 2,565 — —

$174,608

$27,475

$(1,147)

$—






Investments

Assets

$433,468,374

$ —

$ —

$433,468,374

174,608

—

—

174,608

$433,642,982

$ —

$ —

$433,642,982



170



iShares® MSCI South Korea ETFSchedule of Investments (unaudited)

May 31, 2018


Korea Aerospace Industries Ltd.(a)(b)

Hyundai Glovis Co. Ltd.

Korean Air Lines Co. Ltd.

Hankook Tire Co. Ltd.Hanon SystemsHyundai Mobis Co. Ltd.

Hyundai Motor Co.Kia Motors Corp.

BNK Financial Group Inc.DGB Financial Group Inc.Hana Financial Group Inc.Industrial Bank of KoreaKB Financial Group Inc.Shinhan Financial Group Co. Ltd.Woori Bank

Celltrion Inc.(a)(b)

Medy-Tox Inc.SillaJen Inc.(a)(b)

ViroMed Co. Ltd.(a)

KCC Corp.

Korea Investment Holdings Co. Ltd.Mirae Asset Daewoo Co. Ltd.NH Investment & Securities Co. Ltd.Samsung Securities Co. Ltd.

Hanwha Chemical Corp.Hyosung Corp.Kumho Petrochemical Co. Ltd.LG Chem Ltd.Lotte Chemical Corp.OCI Co. Ltd.(b)

KEPCO Plant Service & Engineering Co. Ltd.S-1 Corp.

Daelim Industrial Co. Ltd.



420,365$

17,158,551

Air Freight & Logistics — 0.4% 119,658 14,930,193

Airlines — 0.3% 345,427 10,238,316


446,519

17,749,7461,270,674 11,905,754

365,119 73,840,106

103,495,606Automobiles — 3.5%

814,214 104,991,6471,451,890 41,955,910

146,947,557Banks — 8.1%

1,645,872 14,550,9161,172,081 11,253,8041,587,780 61,275,2431,489,793 21,560,1572,094,220 100,636,0182,264,251 91,897,5662,603,779 36,957,019


429,103 105,688,43326,992 18,870,236

302,756 22,609,45181,478 20,030,308


39,034 12,474,802

Capital Markets — 1.7%246,926 21,509,672

2,371,912 20,683,680949,981 13,968,365425,063 14,550,605

70,712,322Chemicals — 4.1%

668,238 16,024,818133,009 16,534,353130,441 12,705,881244,741 76,854,05595,756 32,734,437

113,988 14,011,234


195,333 7,329,858123,018 10,088,400


184,296 14,361,393

Hyundai Engineering & Construction Co. Ltd.Samsung Engineering Co. Ltd.(a)

Samsung Card Co. Ltd.

KT Corp.

Korea Electric Power Corp.

Doosan Heavy Industries & Construction Co. Ltd.(a)(b)

LG Display Co. Ltd.(b)

LG Innotek Co. Ltd.(b)

Samsung Electro-Mechanics Co. Ltd.Samsung SDI Co. Ltd.

BGF retail Co. Ltd.Dongsuh Cos. Inc.E-MART Inc.GS Retail Co. Ltd.(b)

CJ CheilJedang Corp.Orion Corp./Republic of KoreaOttogi Corp.(b)

Korea Gas Corp.(a)

Celltrion Healthcare Co. Ltd.(a)(b)

Kangwon Land Inc.

Coway Co. Ltd.Hanssem Co. Ltd.(b)

LG Electronics Inc.

CJ Corp.Hanwha Corp.LG Corp.Lotte Corp.(a)

Samsung C&T Corp.SK Holdings Co. Ltd.

DB Insurance Co. Ltd.Hanwha Life Insurance Co. Ltd.Hyundai Marine & Fire Insurance Co. Ltd.ING Life Insurance Korea Ltd.(c)


Construction & Engineering (continued)

483,816$

33,123,634 974,613 16,681,302


236,882 8,152,811

Diversified Telecommunication Services — 0.1% 205,716 5,152,681


Electrical Equipment — 0.2%

503,672 8,924,473

Electronic Equipment, Instruments & Components — 3.3%1,327,709 27,343,699

97,844 13,070,677321,906 40,016,145301,146 56,013,519


57,438 9,724,417305,001 7,342,433118,515 27,486,201227,926 7,982,009


51,807 16,845,265140,497 16,878,66910,526 7,909,514


211,566 11,834,899

Health Care Providers & Services — 0.5%207,840 19,242,481


Household Durables — 2.0%305,851 24,769,97383,962 8,801,620

579,784 49,805,648


95,419 13,100,804307,557 10,271,397526,610 35,858,040207,541 11,282,437415,320 48,353,504174,349 44,802,331

163,668,513Insurance — 3.0%

306,301 16,622,8572,117,078 10,939,398

411,246 12,990,330248,678 9,273,951



171

Daewoo Engineering & Construction Co. Ltd.(a)

GS Engineering & Construction Corp.(b)

Hyundai Development Co. Engineering &Construction

1,393,466 8,337,915364,231 16,573,617

393,399 16,933,730

Samsung Fire & Marine Insurance Co. Ltd. 169,550 39,400,970



iShares® MSCI South Korea ETFSchedule of Investments (unaudited) (continued)

May 31, 2018


Samsung Life Insurance Co. Ltd.

Kakao Corp.(b)

NAVER Corp.

Samsung SDS Co. Ltd.(b)

HLB Inc.(a)

Samsung Biologics Co. Ltd.(a)(b)(c)

Doosan Bobcat Inc.Hyundai Heavy Industries Co. Ltd.(a)


Samsung Heavy Industries Co. Ltd.(a)(b)

Pan Ocean Co. Ltd.(a)(b)

Cheil Worldwide Inc.CJ E&M Corp.

Hyundai Steel Co.Korea Zinc Co. Ltd.POSCO

Hyundai Department Store Co. Ltd.Lotte Shopping Co. Ltd.(b)

Shinsegae Inc.

GS Holdings Corp.SK Innovation Co. Ltd.S-Oil Corp.

Amorepacific Corp.AMOREPACIFIC GroupLG Household & Health Care Ltd.


Hanmi Pharm Co. Ltd.(b)

Hanmi Science Co. Ltd.(b)

Yuhan Corp.



386,491$

36,929,888


261,377

25,096,266 148,116 91,924,119

117,020,385IT Services — 0.9%

192,642 37,708,114

Leisure Products — 0.6%182,032 23,303,879

Life Sciences Tools & Services — 0.9%92,408 37,290,672

Machinery — 1.7%275,978 8,679,117214,278 22,760,63958,119 20,919,497

2,429,919 16,883,987

69,243,240Marine — 0.2%

1,867,512 8,766,279

Media — 0.5%520,351 9,557,910134,677 11,319,390

20,877,300Metals & Mining — 4.2%

469,624 26,924,03550,747 19,089,854

406,177 127,925,313


107,351 11,203,66272,971 15,163,50947,845 19,485,092


315,091 17,041,426349,848 66,857,171259,550 25,883,970


176,446 54,425,803172,107 20,117,33651,215 63,807,918


113,549 9,817,49338,870 17,416,587

109,581 7,217,63759,281 13,088,620

NCSoft Corp.Netmarble Corp.(b)(c)


Hotel Shilla Co. Ltd.

Samsung Electronics Co. Ltd.

KT&G Corp.

Posco Daewoo Corp.

SK Telecom Co. Ltd.Total Common Stocks — 98.2%(Cost: $1,792,129,721)

Preference Shares, NVSSeries 2, Preference Shares, NVS(b)

LG Chem Ltd., Preference Shares, NVS

Amorepacific Corp., Preference Shares, NVSLG Household & Health Care Ltd., PreferenceShares, NVS

Samsung Electronics Co. Ltd., Preference Shares,NVSTotal Preferred Stocks — 1.6%(Cost: $40,664,724)







Software — 1.5% 98,430 $ 32,233,211 151,312 22,038,113 42,543 8,824,728


200,422 23,055,177

Technology Hardware, Storage & Peripherals — 22.0% 19,487,064 916,549,139

Tobacco — 1.4%631,943 56,279,538

Trading Companies & Distributors — 0.2%395,021 8,391,837


4,085,475,148

Preferred StocksAutomobiles — 0.8%Hyundai Motor Co.

158,508 13,145,893225,376 19,757,904

32,903,797Chemicals — 0.2%

54,845 9,997,720


15,987 10,871,071


103,071 3,872,513


245,750,527 245,799,677

14,430,981 14,430,981

260,230,658

260,230,658

4,413,356,125(250,882,226)

$ 4,162,473,899

(a) Non-income producing security.



172

CJ Logistics Corp.(a)(b)

SK Hynix Inc.

47,540,337Road & Rail — 0.2%

63,727 8,838,245

Semiconductors & Semiconductor Equipment — 6.3%3,040,355 263,434,442



BlackRock Cash Funds: Institutional, SLAgency SharesBlackRock Cash Funds: Treasury, SL AgencyShares

KOSPI 200 Index

Common Stocks

Preferred Stocks

Money Market Funds

iShares® MSCI South Korea ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

(b) All or a portion of this security is on loan.(c) Security exempt from registration pursuant to Rule 144A under the Securities Act



loaned securities.

Affiliates


Affiliated Issuer



Value at 05/31/18

Income

Net



140,876,705 104,873,822 245,750,527 $245,799,677

$3,932,891(a)

$(31,913)

$20,531

4,974,415 9,456,566 14,430,981 14,430,981

101,088

—

—

$260,230,658

$4,033,979

$(31,913)

$20,531



Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$11,442 $ (234,474)




Investments

Assets

$4,052,007,065

$ 33,468,083

$ —

$4,085,475,148

67,650,319

—

—

67,650,319

260,230,658

—

—

260,230,658



Futures Contracts

NVS

$4,379,888,042

$ 33,468,083

$ —

$4,413,356,125


Liabilities

$ (234,474)

$ —

$ —

$ (234,474)



173




iShares® MSCI Spain ETFSchedule of Investments (unaudited)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



10,256,664 (10,256,664) —$

—

$60,233(a)

$(2,698)

$—

1,301,695 (1,203,402) 98,293 98,293 6,804 — —

International Consolidated Airlines Group SA


Banco de Sabadell SA

Banco Santander SA

Bankia SA

Bankinter SACaixaBank SA

Grifols SA

ACS Actividades de Construccion y Servicios SAFerrovial SA

Telefonica SA

Endesa SAIberdrola SARed Electrica Corp. SA

Siemens Gamesa Renewable Energy SA

Gas Natural SDG SA

Mapfre SA

Amadeus IT Group SA

Enagas SA



2,550,016$

23,122,485

Banks — 39.7%

13,573,090

92,512,324

18,392,540

30,873,295

35,369,731

189,920,557

5,260,412

19,931,990

2,555,420

24,591,36610,391,519 44,104,743


1,032,327 30,366,883


1,609,630 32,749,587


9,328,807 82,183,161


11,595,845 82,189,5401,512,916 29,404,340


1,176,815 18,070,969

Gas Utilities — 3.0%1,252,691 30,692,960

Insurance — 1.6%5,490,138 16,611,186

IT Services — 4.7%605,157 47,964,533


Repsol SA

Industria de Diseno Textil SA

Aena SME SA(a)


Ferrovial SA, NVS (Expires 06/05/18)(b)








2,623,317$

49,929,126


1,437,644 45,327,141

Transportation Infrastructure — 4.0% 210,462 40,363,948

1,011,370,363

RightsConstruction & Engineering — 0.0%

1,516,426 552,279


98,293 98,293

98,293

1,012,020,935

1,719,636

$1,013,740,571


(b) Non-income producing security.(c) Affiliate of the Fund.(d) Annualized 7-day yield as of period-end.



$

98,293

$67,037

$(2,698)

$—


174



IBEX 35 Index

Common Stocks

Rights

Money Market Funds

Futures Contracts

NVS

iShares® MSCI Spain ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Futures Contracts


Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$1,434 $ (90,339)




Investments

Assets

$1,011,370,363

$ —

$ —

$1,011,370,363

552,279

—

—

552,279

98,293

—

—

98,293

$1,012,020,935

$ —

$ —

$1,012,020,935


Liabilities

$ (90,339)

$ —

$ —

$ (90,339)





175




iShares® MSCI Sweden ETFSchedule of Investments (unaudited)

May 31, 2018



Affiliated Issuer


NetActivity


Value at 05/31/18

Income

Net



3,689,579 6,926,471 10,616,050 $10,618,173

$3,710(a)

$(344)

$266

5,596 17,757 23,353 23,353 3,752 — —

Nordea Bank AB

Skandinaviska Enskilda Banken AB, Class A

Svenska Handelsbanken AB, Class ASwedbank AB, Class A

Assa Abloy AB, Class B

Securitas AB, Class B

Telefonaktiebolaget LM Ericsson, Class B

Skanska AB, Class B

Industrivarden AB, Class CInvestor AB, Class BKinnevik AB, Class BL E Lundbergforetagen AB, Class B

Telia Co. AB

Hexagon AB, Class B

ICA Gruppen AB

Electrolux AB, Series BHusqvarna AB, Class B

Essity AB, Class B

Alfa Laval ABAtlas Copco AB, Class AAtlas Copco AB, Class BSandvik AB



2,091,616$

20,083,227

1,088,973

9,795,171

1,047,159

11,460,805 620,944 12,887,557


680,105 14,600,577

Commercial Services & Supplies — 1.5%252,463 4,062,071

Communications Equipment — 5.7%2,087,828 15,120,246


Diversified Financial Services — 8.4%140,082 2,937,508283,011 11,715,618165,865 5,769,41353,211 1,715,920


2,094,184 9,802,594

Electronic Equipment, Instruments & Components — 4.1%191,754 10,784,358

Food & Staples Retailing — 0.8%70,306 2,166,091

Household Durables — 3.0%183,710 4,526,342348,877 3,424,104


406,578 10,312,111

Machinery — 26.1%229,273 5,716,444460,963 18,267,950265,806 9,600,882666,740 11,550,576

SKF AB, Class BVolvo AB, Class B

Boliden AB

Lundin Petroleum AB

Hennes & Mauritz AB, Class B(a)

Swedish Match AB

Millicom International Cellular SA, SDRTele2 AB, Class B








Machinery (continued) 291,127 $ 5,645,062 1,070,917 18,400,948

69,181,862Metals & Mining — 2.8%

206,970 7,284,739

Oil, Gas & Consumable Fuels — 1.9% 155,577 4,925,363

Specialty Retail — 3.7%651,812 9,807,034

Tobacco — 2.6%142,642 6,751,175


258,000 3,152,077

6,126,073


10,616,050 10,618,173

23,353 23,353

10,641,526

10,641,526

270,628,968(5,972,204)

$ 264,656,764


loaned securities.



$10,641,526

$ 7,462

$(344)

$266


176



OMXS 30 Index

Common Stocks

Money Market Funds

Futures Contracts

SDR

iShares® MSCI Sweden ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Futures Contracts


Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$4,107 $ (143,121)




Investments

Assets

$259,987,442

$ —

$ —

$259,987,442

10,641,526

—

—

10,641,526

$270,628,968

$ —

$ —

$270,628,968


Liabilities

$ (143,121)

$ —

$ —

$ (143,121)


Portfolio Abbreviations - EquitySwedish Depositary Receipt



177



iShares® MSCI Switzerland ETFSchedule of Investments (unaudited)

May 31, 2018


Geberit AG, Registered

Credit Suisse Group AG, Registered

Julius Baer Group Ltd.

Partners Group Holding AGUBS Group AG, Registered

Clariant AG, RegisteredEMS-Chemie Holding AG, RegisteredGivaudan SA, RegisteredSika AG, Bearer(a)

LafargeHolcim Ltd., Registered

Pargesa Holding SA, Bearer

Swisscom AG, Registered

ABB Ltd., Registered

Barry Callebaut AG, RegisteredChocoladefabriken Lindt & Spruengli AG, NVSChocoladefabriken Lindt & Spruengli AG, RegisteredNestle SA, Registered

Sonova Holding AG, RegisteredStraumann Holding AG, Registered

Baloise Holding AG, RegisteredSwiss Life Holding AG, RegisteredSwiss Re AGZurich Insurance Group AG

Lonza Group AG, Registered

Schindler Holding AG, NVSSchindler Holding AG, Registered


Common StocksBuilding Products — 1.6%

35,201$

15,246,247

Capital Markets — 10.6%

2,163,829

33,059,416

217,754

12,736,095

17,045

12,344,6652,668,118 40,302,667

98,442,843Chemicals — 4.8%

117,801 2,849,4649,811 6,152,4588,540 19,067,5412,030 16,250,738


421,861 21,644,460


Diversified Telecommunication Services — 1.3%25,997 11,624,739

Electrical Equipment — 3.9%1,616,734 36,656,496

Food Products — 21.7%2,905 5,091,3591,173 7,522,902

111 8,411,6572,399,208 181,520,793


57,116 9,992,83111,428 7,550,082

17,542,913Insurance — 8.9%

53,166 7,819,96133,714 11,522,637

283,218 24,539,222132,288 39,319,045


69,090 18,532,228

Machinery — 1.6%42,937 9,093,15825,985 5,344,489

14,437,647

Kuehne + Nagel International AG, Registered

Novartis AG, RegisteredRoche Holding AG, NVSVifor Pharma AG

Adecco Group AG, RegisteredSGS SA, Registered

Swiss Prime Site AG, Registered

Temenos AG

Dufry AG, Registered

Cie. Financiere Richemont SA, RegisteredSwatch Group AG (The), BearerSwatch Group AG (The), Registered








Marine — 0.9%

57,472$

8,687,152

Pharmaceuticals — 26.0%1,658,306 123,069,887 517,831 111,166,954 50,421 7,844,463


165,268

9,938,6075,186 13,446,357


79,889 7,472,072

Software — 0.3%20,651 3,066,876

Specialty Retail — 0.6%40,441 5,530,762

Textiles, Apparel & Luxury Goods — 6.7%454,438 41,759,66729,587 14,391,72367,647 6,024,306

62,175,696


126 126

96,407 96,407

96,533

96,533

921,417,08510,092,199

$931,509,284


loaned securities.



178




Euro STOXX 50

Common Stocks

Money Market Funds

Futures Contracts

NVS

iShares® MSCI Switzerland ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates


Affiliated Issuer


NetActivity


Value at 05/31/18

Income



— 126 126$

126

$0(a)

(b)

$

—

$

—609,567 (513,160) 96,407 96,407 6,762 — —

$

96,533

$ 6,762

$—

$—


(b) Rounds to less than $1.


Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$10,420 $ (28,957)




Investments

Assets

$921,320,552

$ —

$ —

$921,320,552

96,533

—

—

96,533

$921,417,085

$ —

$ —

$921,417,085


Liabilities

$ (28,957)

$ —

$ —

$ (28,957)





179



iShares® MSCI Taiwan ETFSchedule of Investments (unaudited)

May 31, 2018


China Airlines Ltd.(a)

Eva Airways Corp.

Cheng Shin Rubber Industry Co. Ltd.(b)

Chang Hwa Commercial Bank Ltd.China Development Financial Holding Corp.CTBC Financial Holding Co. Ltd.E.Sun Financial Holding Co. Ltd.First Financial Holding Co. Ltd.Hua Nan Financial Holdings Co. Ltd.Mega Financial Holding Co. Ltd.SinoPac Financial Holdings Co. Ltd.Taishin Financial Holding Co. Ltd.Taiwan Business BankTaiwan Cooperative Financial Holding Co. Ltd.

TaiMed Biologics Inc.(a)

Yuanta Financial Holding Co. Ltd.

Formosa Chemicals & Fibre Corp.Formosa Plastics Corp.Nan Ya Plastics Corp.

Asia Cement Corp.Taiwan Cement Corp.

Chailease Holding Co. Ltd.Fubon Financial Holding Co. Ltd.

Chunghwa Telecom Co. Ltd.

Teco Electric and Machinery Co. Ltd.Ya Hsin Industrial Co. Ltd.(a)(c)

AU Optronics Corp.(b)

Delta Electronics Inc.(b)

General Interface Solution Holding Ltd.(b)

Hon Hai Precision Industry Co. Ltd.Innolux Corp.(b)

Largan Precision Co. Ltd.(b)

Pacific Electric Wire & Cable Co. Ltd.(a)(c)

Synnex Technology International Corp.Walsin Technology Corp.



25,488,761$

8,634,779 19,116,278 9,666,125


13,806,670 21,013,105

Banks — 11.1%

38,232,848

22,394,95692,394,508 34,692,463

114,696,325 82,687,47062,658,058 43,707,87267,968,171 46,164,32053,100,746 31,724,15872,216,271 63,270,43476,956,397 28,510,45566,513,469 32,744,47836,108,697 11,027,30457,348,014 33,783,103


1,654,000 17,389,316

Capital Markets — 0.9%71,154,248 33,485,470

Chemicals — 7.0%22,302,610 85,603,19627,612,518 99,071,99831,860,938 89,006,242


16,992,136 18,743,72425,488,504 37,090,893


8,496,937 30,344,68543,542,515 75,716,003


24,464,648 89,002,441

Electrical Equipment — 0.3%14,868,092 11,984,1946,845,461 2


62,658,830 27,500,74613,190,180 48,866,3781,461,000 9,338,034

103,014,003 294,654,80964,782,873 25,081,565

656,794 89,877,189197 —

10,620,364 17,014,418430,000 5,561,304

Zhen Ding Technology Holding Ltd.(b)

President Chain Store Corp.

Standard Foods Corp.(b)

Uni-President Enterprises Corp.

Nien Made Enterprise Co. Ltd.

Far Eastern New Century Corp.

Cathay Financial Holding Co. Ltd.China Life Insurance Co. Ltd./TaiwanShin Kong Financial Holding Co. Ltd.(b)

Giant Manufacturing Co. Ltd.(b)

Airtac International GroupHiwin Technologies Corp.

Evergreen Marine Corp. Taiwan Ltd.(a)

China Steel Corp.

Formosa Petrochemical Corp.

Highwealth Construction Corp.Ruentex Development Co. Ltd.(a)(b)

ASE Industrial Holding Co. Ltd.Globalwafers Co. Ltd.Macronix International(a)(b)

MediaTek Inc.Nanya Technology Corp.Novatek Microelectronics Corp.Phison Electronics Corp.Powertech Technology Inc.Realtek Semiconductor Corp.Taiwan Semiconductor Manufacturing Co. Ltd.United Microelectronics Corp.(b)

Vanguard International Semiconductor Corp.(b)

Win Semiconductors Corp.Winbond Electronics Corp.

Hotai Motor Co. Ltd.


Electronic Equipment, Instruments & Components (continued)

4,248,072$

9,598,801


4,248,215 43,529,263

Food Products — 2.2%

4,248,056

8,677,170 31,860,189 77,732,417


1,062,000 8,418,304

Industrial Conglomerates — 0.6%23,364,843 22,264,115

Insurance — 3.5%53,100,483 94,994,77317,669,250 18,547,06660,534,205 24,244,796


2,124,590 9,218,387

Machinery — 1.1%1,062,000 18,254,4261,844,862 26,169,129

44,423,555Marine — 0.2%

19,116,364 9,474,759

Metals & Mining — 1.7%83,898,977 66,085,338

Oil, Gas & Consumable Fuels — 0.9%8,496,950 34,456,867



22,833,432 57,919,0241,607,000 31,805,851

12,744,000 21,054,6209,723,175 101,088,6987,434,000 24,712,5944,248,544 19,213,9151,062,698 9,771,6505,310,036 15,844,2413,186,063 12,175,766

116,124,882 868,179,95082,836,501 46,033,3347,434,000 16,276,5682,484,000 20,187,707

22,302,000 14,924,323

1,259,188,241Specialty Retail — 0.5%

2,124,000 19,388,682

Technology Hardware, Storage & Peripherals — 8.5%



180

WPG Holdings Ltd.Yageo Corp.(b)

12,744,744 18,503,6251,431,000 45,420,990

Acer Inc. 23,364,737 19,144,712



BlackRock Cash Funds: Institutional, SLAgency SharesBlackRock Cash Funds: Treasury, SL AgencyShares

iShares® MSCI Taiwan ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



176,501,828 30,804,010 207,305,838 $207,347,299

$2,369,947(a)

$(17,500)

$2,921

22,826,941 (15,910,966) 6,915,975 6,915,975

66,732

—

—

Advantech Co. Ltd.(b)

Asustek Computer Inc.

Catcher Technology Co. Ltd.

Chicony Electronics Co. Ltd.

Compal Electronics Inc.

Foxconn Technology Co. Ltd.(b)

HTC Corp.(a)(b)

Inventec Corp.Lite-On Technology Corp.(b)

Micro-Star International Co. Ltd.Pegatron Corp.Quanta Computer Inc.(b)

Wistron Corp.(b)

Eclat Textile Co. Ltd.(b)

Feng TAY Enterprise Co. Ltd.(b)

Formosa Taffeta Co. Ltd.Pou Chen Corp.Ruentex Industries Ltd.

Taiwan High Speed Rail Corp.

Far EasTone Telecommunications Co. Ltd.Taiwan Mobile Co. Ltd.




2,326,614$

15,763,651

4,874,857

44,174,146

4,625,743

53,804,764

5,331,050

12,597,445

31,860,554

20,948,648

6,425,499

15,827,039

5,310,884

10,387,257

20,178,868

16,332,21115,983,071 20,858,0375,310,000 22,153,430

13,806,037 29,168,17119,116,240 33,815,42120,178,130 15,186,717


1,454,601 17,768,9363,186,476 14,144,8637,434,515 8,275,322

15,930,103 19,512,8685,310,262 10,864,578


14,694,000 11,353,440

Wireless Telecommunication Services — 1.8%11,682,259 29,789,04910,620,609 38,992,273

68,781,322

3,892,387,963








207,305,838 $ 207,347,299

6,915,975 6,915,975

214,263,274

214,263,274

4,106,651,237(211,825,243)

$ 3,894,825,994


3 in the fair value hierarchy.(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 cash collateral received from

loaned securities.



MSCI Taiwan Index

$214,263,274

$2,436,679

$(17,500)

$2,921



Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$3,159 $ (41,477)

181



Common Stocks

Money Market Funds

Futures Contracts

iShares® MSCI Taiwan ETF Schedule of Investments (unaudited) (continued)

May 31, 2018





Investments

Assets

$3,892,387,961

$ —

$ 2

$3,892,387,963

214,263,274

—

—

214,263,274

$4,106,651,235

$ —

$ 2

$4,106,651,237


Liabilities

$ (41,477)

$ —

$ —

$ (41,477)




182



iShares® MSCI Thailand ETFSchedule of Investments (unaudited)

May 31, 2018


Bangkok Airways PCL, NVDR(a)

Thai Airways International PCL, NVDR(b)

Sri Trang Agro-Industry PCL, NVDR

Bangkok Bank PCLKasikornbank PCL, NVDRKasikornbank PCLKiatnakin Bank PCL, NVDRKrung Thai Bank PCL, NVDRSiam Commercial Bank PCL (The), NVDRThanachart Capital PCL, NVDRTisco Financial Group PCL, NVDRTMB Bank PCL, NVDR

Dynasty Ceramic PCL, NVDR(a)

Vanachai Group PCL, NVDR(a)

Eastern Polymer Group PCL, NVDR(a)

Global Green Chemicals PCL, NVDR(a)

Indorama Ventures PCL, NVDRPTT Global Chemical PCL, NVDRVinythai PCL, NVDR(a)

CH Karnchang PCL, NVDR(a)

Italian-Thai Development PCL, NVDR(a)(b)

Sino-Thai Engineering & Construction PCL, NVDR(a)(b)

Unique Engineering & Construction PCL, NVDR(a)

Siam Cement PCL (The), NVDRTPI Polene PCL, NVDR

Group Lease PCL, NVDR(a)

Krungthai Card PCL, NVDRMuangthai Capital PCL, NVDR(a)

Ratchthani Leasing PCL, NVDR(a)

Srisawad Corp PCL, NVDR(a)

Polyplex Thailand PCL, NVDR(a)

Jasmine International PCL, NVDRThaicom PCL, NVDR(a)

True Corp. PCL, NVDR



2,205,400$

1,040,998 1,978,966 971,234


2,280,245 890,999

Banks — 16.2%

741,300

4,472,3631,907,600 11,419,3623,485,700 21,247,6241,119,373 2,405,655

10,465,300 5,725,0004,793,200 19,927,9651,776,400 2,859,788

962,110 2,496,25339,388,400 3,053,555


7,080,840 460,3991,280,200 346,162

806,561Chemicals — 6.2%

2,963,800 685,593591,100 256,839

4,602,910 8,381,3546,493,407 18,116,179

747,100 618,886


1,275,700 1,066,7395,179,848 573,200

2,243,028 1,584,6341,604,300 737,205


1,102,500 15,370,8979,136,800 539,811


87,100 17,28968,000 741,857

1,905,100 1,861,0313,230,149 782,5461,683,718 1,855,301


1,005,600 502,957

Diversified Telecommunication Services — 1.9%8,231,168 1,492,3651,364,700 398,873

29,921,418 6,687,657

Cal-Comp Electronics Thailand PCL, NVDR

Delta Electronics Thailand PCL, NVDR

Hana Microelectronics PCL, NVDR(a)

KCE Electronics PCL, NVDR(a)

Samart Corp. PCL, NVDRSVI PCL, NVDR(a)

Berli Jucker PCL, NVDRCP ALL PCL, NVDR

Charoen Pokphand Foods PCL, NVDRGFPT PCL, NVDR(a)

Ichitan Group PCL, NVDRKhon Kaen Sugar Industry PCL, NVDR(a)

Taokaenoi Food & Marketing PCL, NVDR(a)

Thai Union Group PCL, NVDRThai Vegetable Oil PCL, NVDRThaifoods Group PCL, NVDR(a)

Bangkok Chain Hospital PCL, NVDRBangkok Dusit Medical Services PCL, NVDRBumrungrad Hospital PCL, NVDRChularat Hospital PCL, NVDRThonburi Healthcare Group PCL, NVDRVibhavadi Medical Center PCL, NVDR

Erawan Group PCL (The), NVDRMinor International PCL, NVDR

BCPG PCL, NVDR(a)

CK Power PCL, NVDR(a)

Electricity Generating PCL, NVDRGlow Energy PCL, NVDRInter Far East Energy Corp., NVDR(b)(c)

SPCG PCL, NVDR(a)

Super Energy Corp. PCL, NVDR(b)

Thai Solar Energy PCL, NVDR(a)

Thoresen Thai Agencies PCL, NVDR

Precious Shipping PCL, NVDR(a)(b)

BEC World PCL, NVDR(a)

Major Cineplex Group PCL, NVDR(a)


Electronic Equipment, Instruments & Components — 1.6%

5,648,012$

346,049

1,491,244

3,006,728

1,686,100

1,805,218

1,580,900

1,606,104

743,700

176,684 4,195,415 545,574


3,579,200 6,377,44314,650,700 36,981,683


9,704,600 7,584,0891,572,400 589,8341,435,800 246,8554,709,078 485,7761,048,700 652,3645,712,000 3,089,0151,194,853 1,157,8763,882,400 580,115


3,671,625 1,882,29611,572,700 9,677,0781,067,076 6,421,136

14,908,900 1,081,233590,400 622,882

15,914,500 1,283,508


3,743,800 953,7976,462,910 6,565,945


1,801,800 1,103,9475,601,260 696,875

393,800 2,966,7331,529,200 4,063,2073,184,500 11,121,600 750,304

32,935,450 1,523,741119,935 10,948


2,718,089 666,990

Marine — 0.1%1,683,700 626,322

Media — 1.2%2,973,600 878,4161,310,100 1,105,742



183

Gunkul Engineering PCL, NVDR(a)


6,739,168 686,767

Mono Technology PCL, NVDRPlan B Media PCL, NVDR(a)

RS PCL, NVDR(a)(b)

VGI Global Media PCL, NVDR(a)

Workpoint Entertainment PCL, NVDR(a)

2,733,900 235,8723,228,400 640,8361,374,000 807,4775,193,540 1,258,204

440,000 591,435

5,517,982



iShares® MSCI Thailand ETFSchedule of Investments (unaudited) (continued)

May 31, 2018


Robinson PCL, NVDR

Bangchak Corp. PCL, NVDR

Banpu PCL, NVDR

Energy Absolute PCL, NVDR(a)

Energy Earth PCL, NVDR(a)(b)(c)

Esso Thailand PCL, NVDR

IRPC PCL, NVDRPrima Marine PCL, NVDRPTT Exploration & Production PCL, NVDRPTT PCL, NVDRSiamgas & Petrochemicals PCL, NVDR(a)

Thai Oil PCL, NVDR

Do Day Dream PCL, NVDR

Mega Lifesciences PCL, NVDR(a)

Amata Corp. PCL, NVDR(a)

Ananda Development PCL, NVDR(a)

AP Thailand PCL, NVDR(a)

Bangkok Land PCL, NVDRCentral Pattana PCL, NVDRGolden Land Property Development PCL, NVDRLand & Houses PCL, NVDRLPN Development PCL, NVDROrigin Property PCL, NVDR(a)

Platinum Group PCL (The), NVDRQuality Houses PCL, NVDR(a)

Sansiri PCL, NVDRSC Asset Corp. PCL, NVDR(a)

Siam Future Development PCL, NVDR(a)

Singha Estate PCL, NVDR(a)(b)

Supalai PCL, NVDR(a)(b)

U City PCL, NVDR(b)

Univentures PCL, NVDR(a)

WHA Corp. PCL, NVDR(a)

BTS Group Holdings PCL, NVDR

Beauty Community PCL, NVDRCom7 PCL, NVDR(a)

Home Product Center PCL, NVDRPTG Energy PCL, NVDR(a)


Multiline Retail — 0.6%

1,496,800$

2,947,746


1,036,800

1,174,867

6,148,600

4,036,280

3,588,200

4,346,444

4,419,400

2

3,618,100

1,662,584

29,932,700

6,175,5491,077,500 282,9324,151,784 17,455,922

31,305,900 51,132,6442,240,800 696,9673,177,800 9,139,031


106,400 222,845


Real Estate Management & Development — 6.4%1,569,800 1,128,6474,539,800 618,7412,866,786 824,459

30,541,800 1,909,4594,028,300 9,601,6841,472,100 519,9987,878,500 2,733,7091,757,347 532,8621,233,800 771,3662,566,100 649,747

13,037,931 1,328,65416,840,637 915,9964,533,604 521,5272,657,228 730,9667,273,000 777,5451,820,700 1,437,095

842,327,900 789,9292,046,700 553,422

21,015,640 2,890,554

29,236,360Road & Rail — 1.2%

17,486,000 5,302,101

Specialty Retail — 2.7%5,634,400 3,082,2761,105,800 632,577

11,805,371 5,387,8841,764,000 1,042,188

MC Group PCL, NVDR(a)

Airports of Thailand PCL, NVDRBangkok Aviation Fuel Services PCL, NVDR(a)

Bangkok Expressway & Metro PCL, NVDR

TTW PCL, NVDRWHA Utilities and Power PCL, NVDR(a)

Advanced Info Service PCL, NVDRTotal Common Stocks — 99.8%(Cost: $454,423,000)

Samart Corp. PCL, NVDR, (Expires 05/17/21)(b)

Total Warrants — 0.0%(Cost: $0)







Textiles, Apparel & Luxury Goods — 0.1% 1,113,200 $ 462,818

Transportation Infrastructure — 7.4% 12,749,100 27,299,573 586,100 687,051 22,397,253 5,741,090

33,727,714Water Utilities — 0.5%

4,182,366 1,621,1734,109,600 822,177


3,109,419 18,516,546

454,548,683WarrantsElectronic Equipment, Instruments & Components — 0.0%

578,245 6,869


22,101,468 22,105,888

3,851,268 3,851,268

25,957,156

25,957,156

480,512,708(25,122,480)

$ 455,390,228

(a) All or a portion of this security is on loan.(b) Non-income producing security.(c) Security is valued using significant unobservable inputs and is classified as Level

3 in the fair value hierarchy.(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 cash collateral received from

loaned securities.



184

Siam Global House PCL, NVDR(a) 4,175,740 2,166,842

12,311,767




Common Stocks

Warrants

Money Market Funds

NVDR

iShares® MSCI Thailand ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates


Affiliated Issuer


NetActivity


Value at 05/31/18

Income



15,082,493 7,018,975 22,101,468 $22,105,888

$782,811(a)

$296

$(774)

1,168,228 2,683,040 3,851,268 3,851,268

8,526

—

—

$25,957,156

$791,337

$296

$(774)





Investments

Assets

$454,548,680

$ —

$ 3

$454,548,683

6,869

—

—

6,869

25,957,156

—

—

25,957,156

$480,512,705

$ —

$ 3

$480,512,708

Portfolio Abbreviations - EquityNon-Voting Depositary Receipt



185



iShares® MSCI Turkey ETFSchedule of Investments (unaudited)

May 31, 2018


Aselsan Elektronik Sanayi Ve Ticaret AS(a)

Pegasus Hava Tasimaciligi AS(b)

Turk Hava Yollari AO(b)

Goodyear Lastikleri TASKordsa Teknik Tekstil AS(a)

Ford Otomotiv Sanayi ASTofas Turk Otomobil Fabrikasi AS

Akbank Turk ASAlbaraka Turk Katilim Bankasi AS(a)

Turkiye Garanti Bankasi ASTurkiye Halk Bankasi ASTurkiye Is Bankasi AS, Class CTurkiye Sinai Kalkinma Bankasi ASTurkiye Vakiflar Bankasi TAO, Class DYapi ve Kredi Bankasi AS(a)(b)

Anadolu Efes Biracilik Ve Malt Sanayii ASCoca-Cola Icecek AS

Trakya Cam Sanayii AS

Verusa Holding AS(a)

Gubre Fabrikalari TAS(b)

Petkim Petrokimya Holding ASSasa Polyester Sanayi AS(a)(b)

Soda Sanayii AS

Tekfen Holding AS

Akcansa Cimento ASCimsa Cimento Sanayi VE Ticaret AS(a)

Anadolu Cam Sanayii AS

Haci Omer Sabanci Holding AS

Turk Telekomunikasyon AS(b)



955,702$

4,970,758

Airlines — 4.5%

186,344

1,094,052 2,862,000 10,502,000


101,680

73,278307,596 467,076

540,354Automobiles — 3.4%

364,055 5,134,937648,724 3,574,276

8,709,213Banks — 27.3%

11,401,308 20,177,0831,676,211 502,407

11,971,374 23,507,6843,239,008 5,482,2828,162,246 10,721,2175,597,005 1,504,8863,886,810 4,685,6394,505,644 3,991,821

70,573,019Beverages — 3.5%

1,075,757 5,974,518396,728 3,116,152


2,060,597 1,816,525

Capital Markets — 0.3%129,060 691,172

Chemicals — 3.0%101,075 71,060

3,891,670 4,039,662629,415 1,474,546

1,870,094 2,188,498


1,057,607 3,528,892

Construction Materials — 0.5%250,797 508,509281,993 696,056


992,788 560,125


Diversified Telecommunication Services — 0.1%146,065 190,893

Is Gayrimenkul Yatirim Ortakligi AS

BIM Birlesik Magazalar ASMigros Ticaret AS(b)

Ulker Biskuvi Sanayi AS

Aygaz AS(a)

MLP Saglik Hizmetleri AS(b)(c)

Selcuk Ecza Deposu Ticaret ve Sanayi AS

Arcelik AS(a)

Vestel Elektronik Sanayi ve Ticaret AS(a)(b)

Aksa Enerji Uretim AS(a)(b)

Zorlu Enerji Elektrik Uretim AS(b)

AG Anadolu Grubu Holding AS(a)

Alarko Holding AS(a)

Dogan Sirketler Grubu Holding AS(a)(b)

Enka Insaat ve Sanayi ASKOC Holding ASTurkiye Sise ve Cam Fabrikalari AS

Anadolu Anonim Turk Sigorta SirketiAnadolu Hayat Emeklilik ASAvivaSA Emeklilik ve Hayat AS(a)

Otokar Otomotiv Ve Savunma Sanayi AS(a)

Turk Traktor ve Ziraat Makineleri AS

Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS(b)

Borusan Mannesmann Boru Sanayi ve Ticaret AS(a)

Eregli Demir ve Celik Fabrikalari TASKardemir Karabuk Demir Celik Sanayi ve Ticaret AS,Class A(b)

Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS,Class D(b)

Koza Altin Isletmeleri AS(b)

Koza Anadolu Metal Madencilik Isletmeleri AS(a)(b)


Equity Real Estate Investment Trusts (REITs) (continued)

161,489$

35,590


1,101,685

16,813,780 277,912 1,217,008


800,111 3,085,862

Gas Utilities — 0.4%392,399 1,047,274

Health Care Providers & Services — 0.8%434,084 1,530,671816,404 698,112


1,228,328 4,499,181438,083 855,417


800,960 716,6792,972,189 969,452


504,839 2,503,361408,859 429,814

5,424,822 1,123,8321 1

3,944,183 12,143,4383,629,972 3,184,010

19,384,456Insurance — 0.9%

1,030,759 1,019,980451,459 810,894123,173 459,851

2,290,725Machinery — 0.6%

43,824 746,10369,923 903,037

1,649,140Media — 0.0%

151,447 75,098

Metals & Mining — 10.5%221,839 446,861

7,255,377 17,956,755

1,069,408 855,536

3,436,935 3,605,508238,015 2,506,332

1,010,943 1,882,658

27,253,650



186

Emlak Konut Gayrimenkul Yatirim Ortakligi AS(a)

Equity Real Estate Investment Trusts (REITs) — 1.6%9,083,937 4,144,123 Ipek Dogal Enerji Kaynaklari Arastirma Ve Uretim

AS(a)(b)



545,436 805,391649,310 15,182,931

15,988,322




Common Stocks

iShares® MSCI Turkey ETFSchedule of Investments (unaudited) (continued)

May 31, 2018



Affiliated Issuer



Value at 05/31/18

Income

Net



15,951,030 (1,789,655) 14,161,375 $14,164,208

$808,302(a)

$(185)

$(1,722)

100,988 455,108 556,096 556,096

1,564

—

—

$14,720,304

$809,866

$(185)

$(1,722)





Investments

Assets

$257,646,447

$ —

$ —

$257,646,447

EIS Eczacibasi Ilac ve Sinai ve Finansal YatirimlarSanayi ve Ticaret AS

Logo Yazilim Sanayi Ve Ticaret AS(a)(b)

Aksa Akrilik Kimya Sanayii ASMavi Giyim Sanayi Ve Ticaret AS, Class B(c)

TAV Havalimanlari Holding AS

Turkcell Iletisim Hizmetleri ASTotal Common Stocks — 99.6%(Cost: $466,384,903)



Personal Products — 0.3%

900,271$

680,543

Software — 0.3% 85,150 900,770

Textiles, Apparel & Luxury Goods — 1.2%

435,314

1,107,125 187,775 2,016,198


943,407 4,561,670

Wireless Telecommunication Services — 5.8%5,704,186 15,085,617

257,646,447


14,161,375 14,164,208







556,096 $ 556,096

14,720,304

14,720,304

272,366,751(13,767,341)

$ 258,599,410

(a) All or a portion of this security is on loan.(b) Non-income producing security.(c) Security exempt from registration pursuant to Rule 144A under the Securities Act



loaned securities.



Money Market Funds 14,720,304

—

—

14,720,304

$272,366,751

$ —

$ —

$272,366,751

187



iShares® MSCI USA Equal Weighted ETF Schedule of Investments (unaudited)

May 31, 2018


Arconic Inc.

Boeing Co. (The)

General Dynamics Corp.

Harris Corp.

Huntington Ingalls Industries Inc.

L3 Technologies Inc.

Lockheed Martin Corp.Northrop Grumman Corp.Raytheon Co.Rockwell Collins Inc.Spirit AeroSystems Holdings Inc., Class ATextron Inc.TransDigm Group Inc.United Technologies Corp.

CH Robinson Worldwide Inc.Expeditors International of Washington Inc.FedEx Corp.United Parcel Service Inc., Class BXPO Logistics Inc.(a)

American Airlines Group Inc.Delta Air Lines Inc.Southwest Airlines Co.United Continental Holdings Inc.(a)

Aptiv PLCAutoliv Inc.BorgWarner Inc.Goodyear Tire & Rubber Co. (The)Lear Corp.

Ford Motor Co.General Motors Co.Harley-Davidson Inc.Tesla Inc.(a)(b)

Bank of America Corp.BB&T Corp.CIT Group Inc.Citigroup Inc.Citizens Financial Group Inc.Comerica Inc.



13,698$

241,770

703

247,568

1,213

244,674

1,651

248,426

1,123

248,262

1,275

252,871

787

247,543761 249,037

1,195 250,3531,828 251,3682,914 246,8453,793 252,538

756 252,5871,987 248,017

3,481,859Air Freight & Logistics — 0.8%

2,861 248,9073,420 254,7221,004 250,1162,186 253,8382,320 244,180

1,251,763Airlines — 0.6%

5,621 244,7384,519 244,2524,776 243,9583,522 245,096

978,044Auto Components — 0.8%

2,585 252,0371,710 253,0294,906 239,315

10,022 244,8371,271 251,658

1,240,876Automobiles — 0.7%

21,934 253,3386,592 281,4785,967 245,124

905 257,681

1,037,621Banks — 3.5%

8,371 243,0944,606 241,8154,888 244,0583,689 246,0196,082 248,4502,569 242,231

Regions Financial Corp.

Signature Bank/New York NY(a)

SunTrust Banks Inc.

SVB Financial Group(a)

U.S. Bancorp.

Wells Fargo & Co.Zions BanCorp.

Brown-Forman Corp., Class B, NVSCoca-Cola Co. (The)Constellation Brands Inc., Class ADr Pepper Snapple Group Inc.Molson Coors Brewing Co., Class BMonster Beverage Corp.(a)

PepsiCo Inc.

AbbVie Inc.Alexion Pharmaceuticals Inc.(a)

Alkermes PLC(a)

Alnylam Pharmaceuticals Inc.(a)(b)

Amgen Inc.Biogen Inc.(a)

BioMarin Pharmaceutical Inc.(a)

Celgene Corp.(a)

Gilead Sciences Inc.Incyte Corp.(a)(b)

Regeneron Pharmaceuticals Inc.(a)

Seattle Genetics Inc.(a)(b)

United Therapeutics Corp.(a)

Vertex Pharmaceuticals Inc.(a)

Allegion PLCAO Smith Corp.Fortune Brands Home & Security Inc.Johnson Controls International PLCLennox International Inc.Masco Corp.Owens Corning

Affiliated Managers Group Inc.Ameriprise Financial Inc.Bank of New York Mellon Corp. (The)BlackRock Inc.(c)

Cboe Global Markets Inc.Charles Schwab Corp. (The)CME Group Inc.


Banks (continued)

13,280$

242,227

1,939

247,203

3,661

247,154

790

246,583

4,995

249,700

4,599

248,300 4,425 242,534

5,408,665Beverages — 1.1%

4,445 251,4095,954 256,0221,166 260,1112,098 250,2914,110 253,3825,084 260,0982,517 252,329


2,498 247,1522,144 248,9835,516 260,3552,525 251,1621,416 254,342

882 259,2732,730 246,6283,211 252,6423,747 252,5483,689 251,848

859 257,9754,525 273,7172,437 259,7351,603 246,862


3,204 244,8823,916 246,9824,391 246,6427,288 244,5851,218 247,6326,661 248,2563,918 247,696


1,546 246,2161,775 246,0684,441 243,145

467 249,4852,449 238,9244,406 245,0621,582 257,708



188

East West Bancorp. Inc.Fifth Third Bancorp.First Republic Bank/CAHuntington Bancshares Inc./OHJPMorgan Chase & Co.KeyCorp.M&T Bank Corp.People's United Financial Inc.PNC Financial Services Group Inc. (The)(c)

3,585 249,0868,050 246,1692,527 251,689

16,719 248,6112,281 244,090

12,598 244,9051,410 242,633

13,457 247,7431,704 244,371

E*TRADE Financial Corp.(a)

Eaton Vance Corp., NVSFranklin Resources Inc.Goldman Sachs Group Inc. (The)Intercontinental Exchange Inc.Invesco Ltd.Moody's Corp.Morgan StanleyMSCI Inc.

3,936 249,3464,592 247,0507,419 249,0561,074 242,5953,563 252,5818,937 244,1591,451 247,4974,762 238,7671,584 257,511



iShares® MSCI USA Equal Weighted ETF Schedule of Investments (unaudited) (continued)

May 31, 2018


Nasdaq Inc.

Northern Trust Corp.

Raymond James Financial Inc.

S&P Global Inc.

SEI Investments Co.

State Street Corp.

T Rowe Price Group Inc.TD Ameritrade Holding Corp.

Air Products & Chemicals Inc.Albemarle Corp.Axalta Coating Systems Ltd.(a)(b)

Celanese Corp., Series ACF Industries Holdings Inc.Chemours Co. (The)DowDuPont Inc.Eastman Chemical Co.Ecolab Inc.FMC Corp.International Flavors & Fragrances Inc.LyondellBasell Industries NV, Class AMonsanto Co.Mosaic Co. (The)PPG Industries Inc.Praxair Inc.Sherwin-Williams Co. (The)Westlake Chemical Corp.

Cintas Corp.Copart Inc.(a)

Republic Services Inc.Rollins Inc.Stericycle Inc.(a)

Waste Connections Inc.Waste Management Inc.

Arista Networks Inc.(a)

Cisco Systems Inc.CommScope Holding Co. Inc.(a)

F5 Networks Inc.(a)

Juniper Networks Inc.Motorola Solutions Inc.Palo Alto Networks Inc.(a)


Capital Markets (continued)

2,721$

249,951

2,368

242,767

2,538

245,069

1,260

248,850

3,878

247,339

2,513

241,524

2,080

252,554 4,196 248,403

5,931,627Chemicals — 2.8%

1,530 246,9572,663 248,9117,794 242,4712,206 249,1016,060 249,3084,983 244,1173,842 246,3112,376 247,8411,745 248,8542,815 245,1582,013 245,8482,219 248,7941,996 254,4109,048 248,7302,442 246,4471,607 251,110

644 244,2372,135 247,084


1,396 254,4214,654 255,1793,729 251,4465,037 250,6913,988 253,2383,304 254,0123,043 251,687


987 248,2905,818 248,4878,523 249,8941,444 249,9719,271 246,9792,283 245,0571,206 250,957

1,739,635

Capital One Financial Corp.

Discover Financial ServicesSynchrony Financial

Avery Dennison Corp.

Ball Corp.

Crown Holdings Inc.(a)

International Paper Co.Packaging Corp. of AmericaSealed Air Corp.WestRock Co.

Genuine Parts Co.LKQ Corp.(a)

H&R Block Inc.

Berkshire Hathaway Inc., Class B(a)

Jefferies Financial Group Inc.Voya Financial Inc.

AT&T Inc.CenturyLink Inc.Verizon Communications Inc.Zayo Group Holdings Inc.(a)

Alliant Energy Corp.American Electric Power Co. Inc.Duke Energy Corp.Edison InternationalEntergy Corp.Eversource EnergyExelon Corp.FirstEnergy Corp.NextEra Energy Inc.OGE Energy Corp.PG&E Corp.Pinnacle West Capital Corp.PPL Corp.Southern Co. (The)Westar Energy Inc.Xcel Energy Inc.


Consumer Finance (continued)

2,663$

250,322

3,322

245,363 7,090 245,527


2,327

244,405

6,580

243,131

5,541

240,1474,664 249,5242,105 247,3375,516 240,2774,210 247,885

1,712,706Distributors — 0.3%

2,760 250,5818,207 260,736

511,317Diversified Consumer Services — 0.2%

9,039 248,121

Diversified Financial Services — 0.5%1,300 248,989

10,863 237,6824,753 246,871

733,542Diversified Telecommunication Services — 0.6%

7,766 250,99713,892 253,1125,200 247,8847,248 252,231


6,189 256,3483,756 255,2203,330 256,9434,009 249,1993,166 256,1614,487 256,1186,208 256,9497,404 254,8461,554 257,6697,341 257,0825,653 244,9453,237 257,6989,197 251,2625,671 254,6284,496 254,9235,587 254,320

4,074,311



189

Fluor Corp.Jacobs Engineering Group Inc.

Martin Marietta Materials Inc.Vulcan Materials Co.

Ally Financial Inc.American Express Co.

Construction & Engineering — 0.3%5,202 253,5453,967 257,062

510,607Construction Materials — 0.3%

1,160 258,5291,983 253,309

511,838Consumer Finance — 0.8%

9,389 240,8282,497 245,455

Acuity Brands Inc.AMETEK Inc.Eaton Corp. PLCEmerson Electric Co.Rockwell Automation Inc.Sensata Technologies Holding PLC(a)

Electrical Equipment — 0.9%2,111 249,6263,362 245,5273,225 246,9713,483 246,7361,418 248,7314,848 247,684

1,485,275




May 31, 2018


Amphenol Corp., Class A

Arrow Electronics Inc.(a)

Avnet Inc.

CDW Corp./DE

Cognex Corp.

Corning Inc.

Flex Ltd.(a)

FLIR Systems Inc.IPG Photonics Corp.(a)

Keysight Technologies Inc.(a)

TE Connectivity Ltd.Trimble Inc.(a)

Baker Hughes a GE Co.Halliburton Co.Helmerich & Payne Inc.National Oilwell Varco Inc.Schlumberger Ltd.TechnipFMC PLC

Alexandria Real Estate Equities Inc.American Tower Corp.AvalonBay Communities Inc.Boston Properties Inc.Camden Property TrustCrown Castle International Corp.Digital Realty Trust Inc.(b)

Duke Realty Corp.Equinix Inc.(b)

Equity ResidentialEssex Property Trust Inc.Extra Space Storage Inc.(b)

Federal Realty Investment TrustGGP Inc.HCP Inc.Host Hotels & Resorts Inc.Invitation Homes Inc.Iron Mountain Inc.Kimco Realty Corp.(b)

Liberty Property TrustMacerich Co. (The)(b)

Mid-America Apartment Communities Inc.National Retail Properties Inc.Prologis Inc.


Electronic Equipment, Instruments & Components — 1.9%

2,893$

251,488

3,402

252,156

6,524

248,695

3,129

250,476

5,405

247,063

9,330

253,496

18,046

250,659

4,690

252,7911,010 243,6834,737 278,2512,682 249,6417,280 240,677


7,275 251,6425,030 250,1923,793 251,7796,119 253,4493,680 252,7068,084 251,817


2,044 255,3371,852 256,2611,561 258,4082,109 256,8132,949 259,5122,457 255,8972,369 254,6209,036 254,092

651 258,3494,088 261,5911,078 257,6742,653 255,3512,159 256,684

12,285 249,14010,734 257,29411,710 253,28711,570 254,6567,653 254,768

16,842 260,3775,877 259,8224,611 256,5102,758 258,0396,200 256,8663,920 252,252

Costco Wholesale Corp.

Kroger Co. (The)

Sysco Corp.

Walgreens Boots Alliance Inc.Walmart Inc.

Archer-Daniels-Midland Co.Bunge Ltd.Campbell Soup Co.Conagra Brands Inc.General Mills Inc.Hershey Co. (The)Hormel Foods Corp.Ingredion Inc.JM Smucker Co. (The)Kellogg Co.Kraft Heinz Co. (The)McCormick & Co. Inc./MD, NVSMondelez International Inc., Class ATyson Foods Inc., Class A

Atmos Energy Corp.UGI Corp.

Abbott LaboratoriesABIOMED Inc.(a)

Align Technology Inc.(a)

Baxter International Inc.Becton Dickinson and Co.Boston Scientific Corp.(a)

Cooper Companies Inc. (The)(b)

Danaher Corp.DENTSPLY SIRONA Inc.Edwards Lifesciences Corp.(a)

Hologic Inc.(a)

IDEXX Laboratories Inc.(a)

Intuitive Surgical Inc.(a)

Medtronic PLCResMed Inc.Stryker Corp.Teleflex Inc.Varian Medical Systems Inc.(a)

Zimmer Biomet Holdings Inc.

Aetna Inc.


Food & Staples Retailing — 0.8%

1,273$

252,360

10,258

249,577

3,883

252,511

3,974

247,938 3,062 252,737


5,667

247,7613,610 251,0757,297 245,4716,748 250,0815,921 250,3992,743 246,9807,040 252,6662,222 247,5092,301 247,3573,870 249,1894,370 251,1882,441 246,5416,378 250,4643,628 244,781


2,877 256,6575,060 255,378

512,035Health Care Equipment & Supplies — 3.0%

4,048 249,073640 243,930793 263,236

3,481 246,5941,128 249,9548,329 253,1181,108 250,7522,472 245,4205,421 237,4941,856 254,8476,487 245,7921,239 257,972

553 254,1982,925 252,4862,448 251,6791,453 252,851

949 253,5352,130 251,0632,273 253,462


1,414 249,048



190

Public StorageRealty Income Corp.Regency Centers Corp.SBA Communications Corp.(a)

Simon Property Group Inc.SL Green Realty Corp.UDR Inc.Ventas Inc.VEREIT Inc.Vornado Realty TrustWelltower Inc.Weyerhaeuser Co.

1,211 256,5384,778 254,6684,368 253,6941,599 252,7541,583 253,6282,634 256,8687,106 259,1564,708 257,339

35,608 254,9533,734 260,2974,439 255,9086,832 255,039

9,224,442

AmerisourceBergen Corp.Anthem Inc.Cardinal Health Inc.Centene Corp.(a)

Cigna Corp.CVS Health Corp.DaVita Inc.(a)

Express Scripts Holding Co.(a)

HCA Healthcare Inc.Henry Schein Inc.(a)

2,953 242,5591,086 240,4624,814 250,7612,132 249,7851,435 243,0463,823 242,3403,719 248,5783,275 248,2782,435 251,1463,585 248,082




May 31, 2018


Humana Inc.

Laboratory Corp. of America Holdings(a)

McKesson Corp.

Quest Diagnostics Inc.

UnitedHealth Group Inc.Universal Health Services Inc., Class B

Cerner Corp.(a)

Veeva Systems Inc., Class A(a)

AramarkCarnival Corp.Chipotle Mexican Grill Inc.(a)

Darden Restaurants Inc.Domino's Pizza Inc.Hilton Worldwide Holdings Inc.Las Vegas Sands Corp.Marriott International Inc./MD, Class AMcDonald's Corp.MGM Resorts InternationalNorwegian Cruise Line Holdings Ltd.(a)(b)

Royal Caribbean Cruises Ltd.Starbucks Corp.Vail Resorts Inc.Wyndham Worldwide Corp.Wynn Resorts Ltd.Yum! Brands Inc.

DR Horton Inc.Garmin Ltd.Leggett & Platt Inc.Lennar Corp., Class AMohawk Industries Inc.(a)

Newell Brands Inc.NVR Inc.(a)

PulteGroup Inc.Toll Brothers Inc.Whirlpool Corp.(b)

Church & Dwight Co. Inc.Clorox Co. (The)Colgate-Palmolive Co.Kimberly-Clark Corp.Procter & Gamble Co. (The)


Health Care Providers & Services (continued)

858$

249,661

1,386

250,298

1,731

245,698

2,386

254,180

1,031

248,997 2,164 248,817


4,212 251,3723,277 253,509

504,881Hotels, Restaurants & Leisure — 2.7%

6,518 253,0293,929 244,698

589 253,3762,873 251,1291,008 253,4923,085 248,9903,182 256,5011,830 247,7091,547 247,5358,027 252,4494,664 244,1142,299 241,3494,359 247,0251,046 251,8662,339 253,6411,300 254,8133,059 248,789


5,918 249,7994,169 250,5156,064 250,4434,729 244,6781,183 241,3799,994 235,659

83 248,2158,286 250,6526,192 244,5221,671 241,877


5,324 249,9622,060 248,9103,960 249,8362,394 241,4353,397 248,558

1,238,701

Roper Technologies Inc.

Aflac Inc.

Alleghany Corp.

Allstate Corp. (The)

American Financial Group Inc./OH

American International Group Inc.Aon PLCArch Capital Group Ltd.(a)(b)

Arthur J Gallagher & Co.Assurant Inc.Athene Holding Ltd., Class A, NVS(a)

Axis Capital Holdings Ltd.Brighthouse Financial Inc.(a)

Chubb Ltd.Cincinnati Financial Corp.Everest Re Group Ltd.FNF GroupHartford Financial Services Group Inc. (The)Lincoln National Corp.Loews Corp.Markel Corp.(a)

Marsh & McLennan Companies Inc.MetLife Inc.Principal Financial Group Inc.Progressive Corp. (The)Prudential Financial Inc.Reinsurance Group of America Inc.RenaissanceRe Holdings Ltd.Torchmark Corp.Travelers Companies Inc. (The)Unum GroupWillis Towers Watson PLCWR Berkley Corp.XL Group Ltd.

Amazon.com Inc.(a)

Booking Holdings Inc.(a)

Expedia Group Inc.Netflix Inc.(a)

Qurate Retail Inc., Class A(a)

TripAdvisor Inc.(a)

Akamai Technologies Inc.(a)

Alphabet Inc., Class A(a)


Industrial Conglomerates (continued)

904$

249,314

990,263Insurance — 5.2%

5,568

250,894

438

249,905

2,645

247,255

2,276

250,087

4,737

250,0661,775 248,2693,195 250,6483,734 247,4902,616 244,2045,366 239,6994,390 249,5725,229 246,3381,891 247,1353,585 248,6911,110 250,0726,624 244,8234,771 249,6663,665 242,9535,077 248,113

222 243,5523,105 249,5495,290 243,2874,336 241,9494,049 251,4022,524 244,4241,683 251,5082,022 248,2412,946 249,9091,927 247,6586,525 253,2351,626 245,7703,291 251,6634,537 252,166


157 255,850120 253,071

2,143 259,367719 252,800

11,959 243,1275,102 266,018


3,300 248,754114 125,400



191

AES Corp./VAVistra Energy Corp.(a)

3M Co.General Electric Co.Honeywell International Inc.

Independent Power and Renewable Electricity Producers — 0.3%

20,343 259,37310,541 258,571

517,944Industrial Conglomerates — 0.6%

1,268 250,08817,256 242,9641,676 247,897

Alphabet Inc., Class C, NVS(a)

eBay Inc.(a)


GoDaddy Inc., Class A(a)

IAC/InterActiveCorp.(a)

MercadoLibre Inc.Twitter Inc.(a)

VeriSign Inc.(a)

Zillow Group Inc., Class C, NVS(a)(b)

120 130,1996,654 250,9891,365 261,7803,555 254,5021,657 257,067

802 233,2467,507 260,4931,965 256,3144,496 262,252

2,540,996




May 31, 2018


Accenture PLC, Class A

Alliance Data Systems Corp.

Automatic Data Processing Inc.

Broadridge Financial Solutions Inc.


DXC Technology Co.

Fidelity National Information Services Inc.

First Data Corp., Class A(a)

Fiserv Inc.(a)

FleetCor Technologies Inc.(a)

Gartner Inc.(a)

Global Payments Inc.International Business Machines Corp.Jack Henry & Associates Inc.Leidos Holdings Inc.Mastercard Inc., Class APaychex Inc.PayPal Holdings Inc.(a)

Sabre Corp.Square Inc., Class A(a)

Total System Services Inc.Visa Inc., Class A(b)

Western Union Co. (The)Worldpay Inc., Class A(a)

Hasbro Inc.Mattel Inc.(b)

Polaris Industries Inc.

Agilent Technologies Inc.Illumina Inc.(a)

IQVIA Holdings Inc.(a)

Mettler-Toledo International Inc.(a)

Thermo Fisher Scientific Inc.Waters Corp.(a)

AGCO Corp.Caterpillar Inc.Cummins Inc.Deere & Co.Dover Corp.Flowserve Corp.Fortive Corp.


IT Services — 3.9%

1,618$

251,987

1,185

249,822

1,932

251,199

2,178

251,450

3,331

250,991

2,680

246,855

2,440

249,417

13,094

248,7863,518 255,4071,249 248,9881,932 256,4542,260 251,2221,758 248,4232,079 260,0004,190 251,6511,321 251,1483,828 251,0403,118 255,894

10,541 258,3604,527 263,6982,931 249,6921,923 251,374

12,623 251,0713,192 253,668


2,881 249,92716,576 257,2592,222 248,642

755,828Life Sciences Tools & Services — 1.0%

3,998 247,556948 258,273

2,524 249,699455 250,587

1,187 247,2171,324 255,029

1,508,361Machinery — 3.0%

3,742 237,9911,620 246,0941,723 245,3381,588 237,4223,190 246,3005,971 246,8413,343 243,003

CBS Corp., Class B, NVS

Charter Communications Inc., Class A(a)

Comcast Corp., Class A

Discovery Inc., Class A(a)(b)

Discovery Inc., Class C, NVS(a)

DISH Network Corp., Class A(a)

Interpublic Group of Companies Inc. (The)

Liberty Broadband Corp., Class C, NVS(a)

Liberty Global PLC, Series A(a)(b)

Liberty Global PLC, Series C, NVS(a)

Liberty Media Corp.-Liberty Formula One, Class C,NVS(a)

Liberty Media Corp.-Liberty SiriusXM, Class A(a)

Liberty Media Corp.-Liberty SiriusXM, Class C, NVS(a)

Live Nation Entertainment Inc.(a)

News Corp., Class A, NVSOmnicom Group Inc.Sirius XM Holdings Inc.(b)

Time Warner Inc.Twenty-First Century Fox Inc., Class A, NVSTwenty-First Century Fox Inc., Class BViacom Inc., Class B, NVSWalt Disney Co. (The)

Freeport-McMoRan Inc.Newmont Mining Corp.Nucor Corp.Steel Dynamics Inc.

AGNC Investment Corp.Annaly Capital Management Inc.

Ameren Corp.CenterPoint Energy Inc.CMS Energy Corp.Consolidated Edison Inc.Dominion Energy Inc.DTE Energy Co.NiSource Inc.Public Service Enterprise Group Inc.SCANA Corp.Sempra EnergyWEC Energy Group Inc.


Media — 2.9%

4,953$

249,483

934

243,811

7,951

247,912

3,975

83,833

7,812

154,443

8,221

242,931

10,967

247,854

3,541

243,8692,383 67,9396,621 183,269

8,189 258,6091,802 83,3433,692 170,5335,821 248,149

16,204 243,5463,508 252,857

36,325 257,9072,681 252,4434,584 176,7131,910 72,9059,180 248,7782,470 245,691

4,476,818Metals & Mining — 0.6%

14,781 249,7996,401 249,1913,947 253,3585,106 252,389

1,004,737Mortgage Real Estate Investment — 0.3%

13,225 248,89524,136 251,738

500,633Multi-Utilities — 1.8%

4,288 253,8079,717 253,9055,534 255,2833,326 255,2043,934 252,5232,471 253,105

10,058 254,4674,818 255,2587,050 255,9152,400 255,6724,038 255,000



192

IDEX Corp.Illinois Tool Works Inc.Ingersoll-Rand PLCMiddleby Corp. (The)(a)

PACCAR Inc.Parker-Hannifin Corp.Pentair PLCSnap-on Inc.Stanley Black & Decker Inc.WABCO Holdings Inc.(a)

Wabtec Corp./DE(b)

Xylem Inc./NY

1,807 250,5951,712 246,0142,811 246,0752,428 241,8773,906 243,0701,425 243,5335,606 244,6461,669 246,7121,722 239,7712,005 242,4652,594 252,9413,536 248,934

4,649,622

Dollar General Corp.Dollar Tree Inc.(a)

Kohl's Corp.Macy's Inc.Nordstrom Inc.Target Corp.

Anadarko Petroleum Corp.AndeavorAntero Resources Corp.(a)

Apache Corp.


2,599 227,3612,652 219,0293,867 258,1227,397 258,2295,160 252,9953,545 258,395


3,735 260,7031,788 258,241

13,818 264,0626,427 257,080




May 31, 2018


Cabot Oil & Gas Corp.

Cheniere Energy Inc.(a)

Chevron Corp.

Cimarex Energy Co.

Concho Resources Inc.(a)

ConocoPhillips

Continental Resources Inc./OK(a)(b)

Devon Energy Corp.Diamondback Energy Inc.EOG Resources Inc.EQT Corp.Exxon Mobil Corp.Hess Corp.HollyFrontier Corp.Kinder Morgan Inc./DEMarathon Oil Corp.Marathon Petroleum Corp.Newfield Exploration Co.(a)

Noble Energy Inc.Occidental Petroleum Corp.ONEOK Inc.Parsley Energy Inc., Class A(a)

Phillips 66Pioneer Natural Resources Co.Plains GP Holdings LP, Class ATarga Resources Corp.Valero Energy Corp.Williams Companies Inc. (The)

Coty Inc., Class AEstee Lauder Companies Inc. (The), Class A

Allergan PLCBristol-Myers Squibb Co.Eli Lilly & Co.Jazz Pharmaceuticals PLC(a)

Johnson & JohnsonMerck & Co. Inc.Mylan NV(a)

Nektar Therapeutics(a)

Perrigo Co. PLCPfizer Inc.Zoetis Inc.



11,220$

256,377

4,061

270,544

2,066

256,804

2,742

254,787

1,809

248,394

3,856

259,856

3,900

262,626

6,221

258,6072,098 253,3542,144 252,5855,026 259,0403,207 260,5374,267 257,8123,473 268,046

15,888 265,01212,190 261,2323,279 259,1399,013 263,5407,144 255,0413,064 257,9893,832 261,1898,581 252,9682,184 254,4141,324 255,664

10,648 261,6215,396 262,4072,126 257,6719,354 251,248


18,468 244,7011,674 250,163

494,864Pharmaceuticals — 1.8%

1,639 247,1614,784 251,7343,050 259,3721,530 258,5702,078 248,5704,272 254,3126,411 246,5673,157 253,4133,355 245,4527,076 254,2413,017 252,523

2,771,915

Jones Lang LaSalle Inc.

AMERCO

CSX Corp.

JB Hunt Transport Services Inc.

Kansas City Southern

Knight-Swift Transportation Holdings Inc.Norfolk Southern Corp.Old Dominion Freight Line Inc.Union Pacific Corp.

Advanced Micro Devices Inc.(a)

Analog Devices Inc.Applied Materials Inc.Broadcom Inc.Intel Corp.KLA-Tencor Corp.Lam Research Corp.Marvell Technology Group Ltd.Maxim Integrated Products Inc.Microchip Technology Inc.Micron Technology Inc.(a)

NVIDIA Corp.ON Semiconductor Corp.(a)

Qorvo Inc.(a)

QUALCOMM Inc.Skyworks Solutions Inc.Texas Instruments Inc.Xilinx Inc.

Activision Blizzard Inc.Adobe Systems Inc.(a)

ANSYS Inc.(a)

Autodesk Inc.(a)(b)

CA Inc.Cadence Design Systems Inc.(a)

CDK Global Inc.Citrix Systems Inc.(a)

Dell Technologies Inc., Class V(a)

Electronic Arts Inc.(a)

Fortinet Inc.(a)

Intuit Inc.Microsoft Corp.Oracle Corp.Red Hat Inc.(a)


Real Estate Management & Development (continued)

1,484$

243,020

488,196Road & Rail — 1.3%

713

230,256

3,903

252,329

1,966

251,845

2,253

241,409

6,241

253,8841,650 250,2221,637 255,3071,740 248,402


18,645 255,9962,645 257,0414,965 252,1231,010 254,5914,554 251,3812,208 250,0121,250 247,725

11,225 241,7874,266 250,2012,635 256,5964,115 236,9831,013 255,4689,766 245,4203,098 248,6144,210 244,6852,515 248,0042,263 253,2523,626 246,967

4,496,846Software — 3.9%

3,533 250,5251,037 258,5031,553 252,8281,902 245,5487,124 254,6125,977 253,7243,960 254,8262,369 250,2143,078 248,2711,915 250,6934,182 255,8551,281 258,2502,567 253,7225,371 250,9331,529 248,340



193

CoStar Group Inc.(a)

Equifax Inc.IHS Markit Ltd.(a)

ManpowerGroup Inc.Nielsen Holdings PLCRobert Half International Inc.TransUnionVerisk Analytics Inc.(a)

CBRE Group Inc., Class A(a)

Professional Services — 1.3%663 252,749

2,191 249,6865,054 249,0612,732 245,8808,415 253,8813,968 252,6823,694 253,4082,379 252,745


5,308 245,176

salesforce.com Inc.(a)

ServiceNow Inc.(a)

Splunk Inc.(a)

SS&C Technologies Holdings Inc.Symantec Corp.Synopsys Inc.(a)

Take-Two Interactive Software Inc.(a)

VMware Inc., Class A(a)(b)

Workday Inc., Class A(a)

1,973 255,1681,429 253,8052,290 253,7555,029 256,026

11,988 249,1112,858 251,7042,254 252,6281,850 254,3381,930 252,753

6,066,132




May 31, 2018


Advance Auto Parts Inc.

AutoZone Inc.(a)

Best Buy Co. Inc.

CarMax Inc.(a)(b)

Gap Inc. (The)

Home Depot Inc. (The)

L Brands Inc.

Lowe's Companies Inc.O'Reilly Automotive Inc.(a)

Ross Stores Inc.Tiffany & Co.TJX Companies Inc. (The)Tractor Supply Co.Ulta Salon Cosmetics & Fragrance Inc.(a)

Apple Inc.Hewlett Packard Enterprise Co.HP Inc.NetApp Inc.Seagate Technology PLCWestern Digital Corp.Xerox Corp.

Hanesbrands Inc.Lululemon Athletica Inc.(a)

Michael Kors Holdings Ltd.(a)

NIKE Inc., Class BPVH Corp.Ralph Lauren Corp.Tapestry Inc.Under Armour Inc., Class A(a)(b)

Under Armour Inc., Class C, NVS(a)

VF Corp.

New York Community Bancorp. Inc.

Altria Group Inc.


Specialty Retail — 2.3%

2,021$

259,941

398

258,429

3,688

251,706

3,752

258,588

8,968

250,925

1,347

251,283

7,112

241,168

2,611

248,071941 253,515

3,264 257,4641,954 255,5442,865 258,7673,442 255,7751,006 248,391


1,339 250,21916,267 247,90911,523 253,8523,760 256,8834,393 247,5462,924 244,1839,045 245,843


13,879 253,0142,378 249,8093,678 211,0813,494 250,8691,600 256,0001,839 247,4935,700 249,2046,517 136,2056,422 121,5043,089 250,703

2,225,882Thrifts & Mortgage Finance — 0.2%

21,233 246,090

Tobacco — 0.3%4,538 252,948

Philip Morris International Inc.

Fastenal Co.HD Supply Holdings Inc.(a)

United Rentals Inc.(a)

WW Grainger Inc.

American Water Works Co. Inc.

Sprint Corp.(a)(b)

T-Mobile U.S. Inc.(a)








Tobacco (continued) 3,142 $ 249,915

502,863Trading Companies & Distributors — 0.6%

4,809 255,983 6,246 254,399 1,559 248,770 815 251,827

1,010,979Water Utilities — 0.2%

3,042 252,912

Wireless Telecommunication Services — 0.3%49,021 251,9684,461 248,478

500,446


4,612,244 4,613,166

152,735 152,735

4,765,901

4,765,901

161,204,028(4,476,621)

$ 156,727,407


loaned securities.



194



BlackRock Cash Funds: Institutional, SLAgency SharesBlackRock Cash Funds: Treasury, SLAgency SharesBlackRock Inc.PNC Financial Services Group Inc. (The)

Common Stocks

Money Market Funds

NVS


May 31, 2018

Affiliates


Affiliated Issuer


Shares Purchased

Shares Sold


Value at 05/31/18

Income

Net



7,464,215 — (2,851,971) (a) 4,612,244 $4,613,166

$22,899(b)

$(676)

$93

69,879 82,856 (a) — 152,735 152,735

1,369

—

—

515 173 (221) 467 249,485 2,310 27,971 26,5981,677 736 (709) 1,704 244,371 3,518 29,807 571

$5,259,757

$30,096

$57,102

$27,262






Investments

Assets

$156,438,127

$ —

$ —

$156,438,127

4,765,901

—

—

4,765,901

$161,204,028

$ —

$ —

$161,204,028




195



iShares® MSCI World ETFSchedule of Investments (unaudited)

May 31, 2018


AGL Energy Ltd.


AMP Ltd.

APA Group

Aristocrat Leisure Ltd.

ASX Ltd.

Aurizon Holdings Ltd.Australia & New Zealand Banking Group Ltd.Bendigo & Adelaide Bank Ltd.BHP Billiton Ltd.BlueScope Steel Ltd.Brambles Ltd.Cochlear Ltd.Commonwealth Bank of AustraliaComputershare Ltd.Crown Resorts Ltd.CSL Ltd.DexusFortescue Metals Group Ltd.Goodman GroupGPT Group (The)Incitec Pivot Ltd.Insurance Australia Group Ltd.James Hardie Industries PLCLendLease GroupMacquarie Group Ltd.Medibank Pvt Ltd.Mirvac GroupNational Australia Bank Ltd.Newcrest Mining Ltd.Oil Search Ltd.OneMarket Ltd., NVS(a)

Orica Ltd.Origin Energy Ltd.(a)

QBE Insurance Group Ltd.Ramsay Health Care Ltd.Rio Tinto Ltd.Santos Ltd.(a)

Scentre GroupSonic Healthcare Ltd.South32 Ltd.StocklandSuncorp Group Ltd.Sydney AirportTabcorp Holdings Ltd.Telstra Corp. Ltd.Transurban GroupTreasury Wine Estates Ltd.Vicinity Centres



11,956$

199,928

19,276

205,068

41,480

122,405

20,406

134,175

6,283

142,811

3,663

168,043

32,513

106,03036,173 744,74610,187 82,93842,578 1,056,3849,411 123,760

22,753 155,4611,647 244,443

21,550 1,129,9928,723 114,4487,015 70,5956,588 926,427

19,655 147,08422,696 80,54132,696 231,06640,504 154,15637,271 97,01236,539 224,7729,036 151,578

12,871 182,8954,341 375,530

45,630 101,16191,805 159,76833,367 676,62312,688 199,30421,494 134,4991,385 1,6037,015 93,791

32,635 237,05519,459 139,5802,501 116,0604,209 264,238

26,243 116,36173,404 232,1628,296 147,890

82,598 232,49245,695 143,48716,426 166,91817,814 98,12724,107 79,71152,544 111,32135,493 318,7787,747 97,188

60,756 122,743

Raiffeisen Bank International AG(a)

Ageas

Anheuser-Busch InBev SA/NV

Colruyt SA

Groupe Bruxelles Lambert SA

KBC Group NVProximus SADPSolvay SAUCB SAUmicore SA

Agnico Eagle Mines Ltd.Alimentation Couche-Tard Inc., Class BARC Resources Ltd.Bank of MontrealBank of Nova Scotia (The)Barrick Gold Corp.BCE Inc.BlackBerry Ltd.(a)

Bombardier Inc., Class B(a)

Brookfield Asset Management Inc., Class ACameco Corp.Canadian Imperial Bank of CommerceCanadian National Railway Co.Canadian Natural Resources Ltd.Canadian Pacific Railway Ltd.Canadian Tire Corp. Ltd., Class A, NVSCanadian Utilities Ltd., Class A, NVSCenovus Energy Inc.CGI Group Inc., Class A(a)

CI Financial Corp.Constellation Software Inc./CanadaCrescent Point Energy Corp.Dollarama Inc.Enbridge Inc.Encana Corp.Fairfax Financial Holdings Ltd.Finning International Inc.First Quantum Minerals Ltd.Fortis Inc./CanadaFranco-Nevada Corp.George Weston Ltd.Gildan Activewear Inc.Goldcorp Inc.Great-West Lifeco Inc.Husky Energy Inc.IGM Financial Inc.Imperial Oil Ltd.


Austria (continued)

2,417$

76,431

586,635Belgium — 0.4%

3,782

191,599

9,638

902,510

1,952

103,607

1,037

109,816

3,675

283,9863,111 83,1971,044 140,1462,135 168,2224,514 255,029

2,238,112Canada — 3.5%

4,087 183,3355,856 244,4066,161 63,4538,296 642,345

15,311 923,47614,367 189,057

854 35,5579,089 107,552

23,163 87,13811,468 457,1467,991 82,6085,429 473,761

10,614 885,72714,640 506,6222,074 399,7231,342 170,7812,928 71,033

15,189 160,1803,660 224,8994,514 87,482

366 288,13312,749 102,6051,098 126,670

24,019 746,01114,457 183,889

366 205,4084,331 107,6749,428 147,9035,795 185,0812,806 197,7741,525 123,7333,721 107,712

12,017 171,6583,660 92,8546,060 87,4061,769 52,2574,636 151,603



196

Wesfarmers Ltd.Westpac Banking Corp.Woodside Petroleum Ltd.Woolworths Group Ltd.

ANDRITZ AGErste Group Bank AGOMV AG

14,152 487,86142,155 888,32010,921 267,81616,897 363,864

13,371,009Austria — 0.1%

1,769 88,1735,002 208,3303,721 213,701

Intact Financial Corp.Inter Pipeline Ltd.Loblaw Companies Ltd.Magna International Inc.Manulife Financial Corp.Metro Inc.National Bank of CanadaNutrien Ltd.

1,952 147,5449,288 175,3493,416 176,5675,307 340,136

25,620 483,0915,490 181,0535,124 244,9828,872 448,730



iShares® MSCI World ETFSchedule of Investments (unaudited) (continued)

May 31, 2018


Onex Corp.

Open Text Corp.

Pembina Pipeline Corp.

Power Corp. of Canada

Power Financial Corp.

PrairieSky Royalty Ltd.

Restaurant Brands International Inc.

RioCan REITRogers Communications Inc., Class B, NVSRoyal Bank of CanadaSaputo Inc.Shaw Communications Inc., Class B, NVSShopify Inc., Class A(a)

SNC-Lavalin Group Inc.Sun Life Financial Inc.Suncor Energy Inc.Teck Resources Ltd., Class BTELUS Corp.Thomson Reuters Corp.Toronto-Dominion Bank (The)Tourmaline Oil Corp.TransCanada Corp.Valeant Pharmaceuticals International Inc.(a)

Vermilion Energy Inc.Waste Connections Inc.Wheaton Precious Metals Corp.

AP Moller - Maersk A/S, Class A(b)

Carlsberg A/S, Class BColoplast A/S, Class BDanske Bank A/SDSV A/SGenmab A/S(a)

Novo Nordisk A/S, Class BNovozymes A/S, Class BPandora A/SVestas Wind Systems A/SWilliam Demant Holding A/S(a)(b)

Elisa OYJFortum OYJKone OYJ, Class BMetso OYJNeste OYJNokia OYJ


Canada (continued)

2,257$

161,933

4,514

157,391

7,442

258,737

5,002

116,490

3,538

88,123

4,941

101,814

3,599

212,439

4,880

88,5945,612 263,252

18,422 1,391,7335,124 177,9896,289 126,5361,206 178,8082,867 125,0067,625 315,004

22,031 877,0286,405 173,6542,411 84,7344,026 156,453

23,241 1,356,2623,599 71,747

11,712 490,0775,063 111,3532,684 94,0394,484 344,7307,137 155,922

18,951,952Denmark — 0.6%

183 256,8551,870 207,6302,318 220,0029,924 329,0084,584 380,577

943 141,67425,254 1,197,8384,209 214,2601,775 139,5163,310 216,7204,026 146,353

3,450,433Finland — 0.4%

3,294 147,0753,843 90,2124,880 241,2433,320 114,7901,320 107,273

78,590 453,186

BNP Paribas SA

Bollore SA, NVS

Bouygues SA, NVS

Bureau Veritas SA, NVS

Capgemini SE

Carrefour SA, NVS

Casino Guichard Perrachon SA, NVS

Cie. de Saint-Gobain, NVSCie. Generale des Etablissements Michelin SCA, ClassB, NVSCredit Agricole SADanone SA, NVS(b)

Dassault Systemes SE, NVSEdenred, NVS(b)

Electricite de France SA, NVSEngie SAEssilor International Cie Generale d'Optique SA, NVSEutelsat Communications SAGetlink, NVSHermes International, NVSIliad SA, NVSIngenico Group SA, NVSIpsen SA, NVSKering SA, NVSKlepierre SALegrand SAL'Oreal SALVMH Moet Hennessy Louis Vuitton SE, NVSOrange SA, NVSPernod Ricard SA, NVSPeugeot SA, NVSPublicis Groupe SA, NVSRenault SA, NVSSafran SASanofi, NVSSchneider Electric SE, NVSSCOR SESES SA(b)

Societe BIC SA, NVSSociete Generale SA, NVSSodexo SA, NVSSTMicroelectronics NVSuezThales SA, NVSTOTAL SA, NVSUbisoft Entertainment SA, NVS(a)

Unibail-Rodamco SE


France (continued)

14,580$

903,040

28,975

142,460

3,050

140,773

5,003

123,866

2,318

304,808

9,150

164,751

2,013

86,942

6,344

317,504

2,623 338,94415,128 207,3167,686 586,6702,318 325,1024,209 134,7686,511 86,643

22,265 351,7742,867 391,2233,965 76,044

11,529 155,976497 353,194610 103,212854 68,186475 75,269

1,220 697,3854,172 162,2684,209 317,0963,172 761,2703,721 1,290,243

25,498 438,2723,050 511,6107,259 169,0032,806 195,0202,637 254,3494,392 523,701

15,433 1,182,3207,278 626,8062,684 98,9415,734 98,893

610 59,24310,370 446,1261,525 147,787

11,157 265,1606,710 92,2681,952 248,136

29,280 1,778,9931,077 116,4401,299 291,968



197

Sampo OYJ, Class AStora Enso OYJ, Class RUPM-Kymmene OYJWartsila OYJ Abp

Accor SA, NVSAir Liquide SAAirbus SEAlstom SA, NVSAtos SEAXA SA, NVS

5,124 251,6919,882 201,9258,113 297,4629,516 200,889

2,105,746France — 3.8%

3,172 173,3225,525 679,7607,930 900,7683,782 178,7962,013 273,044

24,278 604,344

Unibail-Rodamco SE & WFD Unibail-Rodamco NV,NVS(a)

Valeo SA, NVSVeolia Environnement SA, NVSVinci SAVivendi SA, NVS

1&1 Drillisch AGadidas AGAllianz SE, RegisteredBASF SEBayer AG, RegisteredBayerische Motoren Werke AG

10,214 113,6803,843 243,6766,893 156,2576,527 637,860

14,884 373,890

20,547,160Germany — 3.3%

893 61,7102,562 578,9845,795 1,193,123

11,956 1,175,81311,041 1,312,7884,026 401,247




May 31, 2018


Beiersdorf AG

Brenntag AG

Commerzbank AG(a)

Continental AG

Covestro AG(c)

Daimler AG, Registered

Deutsche Bank AG, Registered

Deutsche Boerse AGDeutsche Lufthansa AG, RegisteredDeutsche Post AG, RegisteredDeutsche Telekom AG, RegisteredE.ON SEFresenius Medical Care AG & Co. KGaAFresenius SE & Co. KGaAGEA Group AGHannover Rueck SEHeidelbergCement AGHenkel AG & Co. KGaAInfineon Technologies AGLANXESS AGLinde AGMAN SEMerck KGaAMTU Aero Engines AGMuenchener Rueckversicherungs-Gesellschaft AG inMuenchen, RegisteredOSRAM Licht AGProSiebenSat.1 Media SEPuma SEQIAGEN NV(a)

RWE AGSAP SESiemens AG, Registeredthyssenkrupp AGTUI AGUnited Internet AG, Registered(d)

Vonovia SEWirecard AGZalando SE(a)(c)

AIA Group Ltd.Bank of East Asia Ltd. (The)(b)

BOC Hong Kong Holdings Ltd.CK Asset Holdings Ltd.CK Hutchison Holdings Ltd.CLP Holdings Ltd.


Germany (continued)

2,650$

303,952

3,294

189,717

19,094

194,868

1,482

375,570

1,948

177,228

11,913

857,725

27,049

289,126

2,909

388,4654,379 118,845

13,969 529,45641,420 639,18132,419 343,3093,355 334,5305,734 440,1513,172 116,6341,220 153,8032,440 215,8941,769 199,165

18,666 511,8192,257 178,3092,684 614,0741,403 152,4722,257 230,106

453 85,505

2,013 414,2652,136 125,8643,610 106,065

101 61,1895,170 187,4459,211 208,535

13,115 1,474,88210,126 1,317,9396,771 178,3888,174 190,0171,431 91,204

11,712 551,7781,451 223,8292,379 126,493

17,621,462Hong Kong — 1.4%

170,800 1,567,74248,800 202,50091,500 460,17457,500 480,13530,500 344,30430,500 320,392

WH Group Ltd.(c)

Wynn Macau Ltd.

AIB Group PLC

Bank of Ireland Group PLC

CRH PLC

Kerry Group PLC, Class APaddy Power Betfair PLCSmurfit Kappa Group PLC

Bank Hapoalim BMCheck Point Software Technologies Ltd.(a)(b)

Nice Ltd.(a)

Teva Pharmaceutical Industries Ltd., ADR, NVS(b)

Assicurazioni Generali SpAAtlantia SpACNH Industrial NVEnel SpAEni SpAFerrari NVFiat Chrysler Automobiles NV(a)

Intesa Sanpaolo SpALeonardo SpALuxottica Group SpAMediobanca Banca di Credito Finanziario SpASnam SpATelecom Italia SpA/Milano(a)(b)

Tenaris SATerna Rete Elettrica Nazionale SpAUniCredit SpA

Aeon Co. Ltd.Aisin Seiki Co. Ltd.Ajinomoto Co. Inc.Alps Electric Co. Ltd.ANA Holdings Inc.Asahi Group Holdings Ltd.Asahi Kasei Corp.Astellas Pharma Inc.Bridgestone Corp.Canon Inc.Casio Computer Co. Ltd.Central Japan Railway Co.Chubu Electric Power Co. Inc.


Hong Kong (continued)

92,500$

94,928 9,200 35,303

7,351,077Ireland — 0.2%

13,279

72,450

15,570

128,496

11,163

411,766

2,684

282,4431,232 149,5643,242 133,967

1,178,686Isreal — 0.2%

32,635 225,1672,013 195,9861,708 179,137

12,505 268,857

869,147Italy — 0.9%

15,982 271,4427,564 218,882

18,020 210,768107,319 589,16133,367 603,3252,372 308,725

15,128 342,583201,361 591,030

3,996 40,6932,440 151,753

12,435 117,11049,084 200,994

234,915 188,4417,991 143,183

30,073 159,05727,354 451,303

4,588,450Japan — 8.7%

12,200 242,4396,100 307,681

12,200 233,512800 19,027

6,100 246,03210,000 524,27628,200 388,17336,600 560,73212,200 490,15618,300 625,5816,400 98,0812,200 455,815

18,300 283,903



198

Galaxy Entertainment Group Ltd.Hang Seng Bank Ltd.Hong Kong & China Gas Co. Ltd.Hong Kong Exchanges & Clearing Ltd.(b)

Jardine Matheson Holdings Ltd.Li & Fung Ltd.Link REITMelco Resorts & Entertainment Ltd., ADRMinth Group Ltd.(b)

MTR Corp. Ltd.New World Development Co. Ltd.Sands China Ltd.Sun Hung Kai Properties Ltd.

47,000 413,72918,300 457,958

219,497 474,57916,000 517,6856,100 380,884

130,000 50,54730,500 269,8446,051 197,6268,000 36,817

61,000 343,332183,333 281,39848,800 292,0858,000 129,115

Chugai Pharmaceutical Co. Ltd.Chugoku Electric Power Co. Inc. (The)Concordia Financial Group Ltd.Daifuku Co. Ltd.Dai-ichi Life Holdings Inc.Daiichi Sankyo Co. Ltd.Daikin Industries Ltd.Daiwa House Industry Co. Ltd.Denso Corp.Dentsu Inc.

6,100 345,29918,300 239,68824,400 137,6701,000 52,004

15,000 280,3407,000 225,1836,100 706,319

12,200 443,2186,100 297,0135,000 239,312




May 31, 2018


East Japan Railway Co.

Eisai Co. Ltd.

FANUC Corp.

Fast Retailing Co. Ltd.

FUJIFILM Holdings Corp.

Fujitsu Ltd.

Hakuhodo DY Holdings Inc.

Hitachi Ltd.Honda Motor Co. Ltd.Hoya Corp.Hulic Co. Ltd.Idemitsu Kosan Co. Ltd.Iida Group Holdings Co. Ltd.Inpex Corp.ITOCHU Corp.Japan Airlines Co. Ltd.Japan Exchange Group Inc.Japan Post Holdings Co. Ltd.Japan Retail Fund Investment Corp.Japan Tobacco Inc.JFE Holdings Inc.JTEKT Corp.JXTG Holdings Inc.Kansai Electric Power Co. Inc. (The)Kao Corp.KDDI Corp.Keyence Corp.Kirin Holdings Co. Ltd.Kobe Steel Ltd.Komatsu Ltd.Konami Holdings Corp.Konica Minolta Inc.Kose Corp.Kubota Corp.Kuraray Co. Ltd.Kyocera Corp.Kyushu Electric Power Co. Inc.M3 Inc.Marubeni Corp.Marui Group Co. Ltd.Mazda Motor Corp.MINEBEA MITSUMI Inc.Mitsubishi Chemical Holdings Corp.Mitsubishi Corp.Mitsubishi Electric Corp.Mitsubishi Estate Co. Ltd.Mitsubishi Heavy Industries Ltd.


Japan (continued)

6,100$

603,852

6,100

442,263

2,700

578,296

700

307,524

6,100

234,803

40,000

245,460

12,200

185,507

61,000

447,26024,400 774,1436,100 363,434

12,200 125,431900 30,277

6,100 116,72824,400 272,64624,400 459,5006,100 236,825

12,200 232,33318,300 210,043

122 221,66518,300 494,53512,200 252,8826,100 89,104

54,900 355,18616,100 232,0646,100 473,986

24,400 661,5141,000 615,123

12,200 347,5456,100 61,368

16,900 557,9672,900 136,398

14,500 132,661200 43,573

18,300 308,74818,300 280,9556,100 362,480

12,200 144,4086,100 255,746

36,600 285,8066,100 124,139

12,200 153,8406,100 116,110

36,600 339,57224,400 680,71628,200 401,02213,400 243,7156,100 231,322

Nintendo Co. Ltd.

Nippon Paint Holdings Co. Ltd.(b)

Nippon Steel & Sumitomo Metal Corp.

Nippon Telegraph & Telephone Corp.

Nissan Motor Co. Ltd.

Nitori Holdings Co. Ltd.

Nitto Denko Corp.

Nomura Holdings Inc.Nomura Real Estate Master Fund Inc.NTT DOCOMO Inc.Olympus Corp.Omron Corp.Ono Pharmaceutical Co. Ltd.(b)

ORIX Corp.Otsuka Holdings Co. Ltd.Panasonic Corp.Rakuten Inc.Recruit Holdings Co. Ltd.Renesas Electronics Corp.(a)

Resona Holdings Inc.Ricoh Co. Ltd.Ryohin Keikaku Co. Ltd.Sekisui House Ltd.Seven & i Holdings Co. Ltd.Seven Bank Ltd.Sharp Corp./Japan(b)

Shin-Etsu Chemical Co. Ltd.Shionogi & Co. Ltd.Shiseido Co. Ltd.(b)

SMC Corp./JapanSoftBank Group Corp.(b)

Sompo Holdings Inc.Sony Corp.Start Today Co. Ltd.Subaru Corp.Sumco Corp.Sumitomo Chemical Co. Ltd.Sumitomo Corp.Sumitomo Electric Industries Ltd.Sumitomo Metal Mining Co. Ltd.Sumitomo Mitsui Financial Group Inc.Sumitomo Mitsui Trust Holdings Inc.Sumitomo Realty & Development Co. Ltd.Suzuki Motor Corp.Sysmex Corp.T&D Holdings Inc.Takeda Pharmaceutical Co. Ltd.


Japan (continued)

1,600$

662,709

4,900

205,435

12,247

257,295

12,200

573,365

42,700

424,661

900

155,032

3,700

291,484

67,100

348,393122 171,133

24,400 632,8806,100 216,7246,100 321,7176,100 151,567

24,400 410,2046,100 304,256

36,600 501,77818,300 123,23018,300 510,3696,100 60,750

42,700 238,52615,200 137,947

200 68,11212,200 218,07212,200 541,36128,800 91,1891,600 42,6496,100 611,4326,100 320,8196,100 484,317

600 228,80012,200 871,9506,100 265,684

18,300 869,1432,200 76,6446,100 186,9672,500 60,9555,000 30,328

18,300 307,82118,300 276,997

900 34,51118,300 758,4796,100 255,0165,000 189,2866,100 351,5874,000 361,176

12,200 192,80612,200 499,925



199

Mitsubishi Motors Corp.Mitsubishi UFJ Financial Group Inc.Mitsubishi UFJ Lease & Finance Co. Ltd.Mitsui & Co. Ltd.Mitsui Fudosan Co. Ltd.Mizuho Financial Group Inc.MS&AD Insurance Group Holdings Inc.Murata Manufacturing Co. Ltd.Nagoya Railroad Co. Ltd.NEC Corp.Nexon Co. Ltd.(a)

Nidec Corp.Nikon Corp.

12,200 92,529171,400 1,034,60024,400 146,20530,600 539,92512,200 307,120

372,100 649,7078,000 255,0692,700 402,2236,100 157,0973,000 84,7712,800 46,4154,700 730,448

12,200 198,196

Terumo Corp.Tohoku Electric Power Co. Inc.Tokio Marine Holdings Inc.Tokyo Electric Power Co. Holdings Inc.(a)

Tokyo Electron Ltd.Tokyo Gas Co. Ltd.Tokyu Fudosan Holdings Corp.Toray Industries Inc.Toshiba Corp.(a)

Tosoh Corp.Toyota Motor Corp.Unicharm Corp.(b)

USS Co. Ltd.

6,100 362,70412,200 155,97412,200 588,41230,500 145,1381,700 319,205

12,200 332,94724,400 180,5666,100 50,021

61,000 171,8076,100 107,239

30,500 1,942,9386,100 189,8306,100 115,717




May 31, 2018


Yahoo Japan Corp.

Yakult Honsha Co. Ltd.

Yamada Denki Co. Ltd.(b)

Yamaha Corp.

Yamaha Motor Co. Ltd.

Yamato Holdings Co. Ltd.

Yaskawa Electric Corp.Yokogawa Electric Corp.

Aegon NVAerCap Holdings NV(a)

Akzo Nobel NVArcelorMittalASML Holding NVHeineken Holding NVHeineken NVING Groep NVKoninklijke Ahold Delhaize NVKoninklijke DSM NVKoninklijke KPN NVKoninklijke Philips NVNN Group NVNXP Semiconductors NV(a)

Randstad NVRELX NVUnilever NVWolters Kluwer NV

a2 Milk Co. Ltd.(a)

Fletcher Building Ltd.Spark New Zealand Ltd.

DNB ASAEquinor ASANorsk Hydro ASAOrkla ASATelenor ASAYara International ASA

EDP - Energias de Portugal SAGalp Energia SGPS SA


Japan (continued)

42,800$

156,002

500

32,951

24,400

126,666

4,800

250,946

900

26,094

6,100

175,401

2,700

109,347 6,100 111,675

47,103,295Netherlands — 1.3%

25,376 157,7642,623 145,0783,661 320,939

10,146 328,0635,124 1,001,2602,074 201,6683,233 323,195

50,508 734,49818,504 424,5212,990 297,298

56,120 152,43913,557 554,1943,965 170,1384,758 542,4122,089 124,509

13,974 304,70521,228 1,182,9705,673 318,125

7,283,776New Zealand — 0.1%

10,980 83,74423,747 109,80339,345 101,039

294,586Norway — 0.2%

15,128 270,85116,043 422,12523,546 147,73514,918 134,5499,699 199,7873,660 150,827

1,325,874Portugal — 0.0%

29,795 116,5126,910 128,210

244,722Singapore — 0.4%

Venture Corp. Ltd.

ACS Actividades de Construccion y Servicios SA

Aena SME SA(c)

Amadeus IT Group SA


Banco de Sabadell SABanco Santander SABankia SABankinter SACaixaBank SAEnagas SAEndesa SAFerrovial SAGas Natural SDG SAGrifols SAIberdrola SAIndustria de Diseno Textil SAInternational Consolidated Airlines Group SARed Electrica Corp. SARepsol SATelefonica SA

Alfa Laval ABAssa Abloy AB, Class BAtlas Copco AB, Class AAtlas Copco AB, Class BBoliden ABElectrolux AB, Series BEssity AB, Class BHennes & Mauritz AB, Class B(b)

Hexagon AB, Class BInvestor AB, Class BKinnevik AB, Class BLundin Petroleum ABMillicom International Cellular SA, SDRNordea Bank ABSandvik ABSkandinaviska Enskilda Banken AB, Class ASkanska AB, Class BSKF AB, Class BSvenska Handelsbanken AB, Class ASwedbank AB, Class ASwedish Match ABTelefonaktiebolaget LM Ericsson, Class BTelia Co. ABVolvo AB, Class B



6,100$

96,235

2,313,866Spain — 1.1%

4,188

173,596

1,281

245,680

6,771

536,667

86,501

589,579

88,215

148,076210,866 1,132,26225,300 95,86312,703 122,24451,547 218,7812,061 54,8763,867 85,0658,290 168,6694,026 98,6443,974 116,899

72,641 514,86813,725 432,73210,126 91,8185,764 112,026

17,845 339,64157,255 504,394

5,782,380Sweden — 0.9%

5,673 141,44414,762 316,9127,991 316,6836,832 246,7715,494 193,3734,148 102,2018,540 216,602

11,468 172,5454,331 243,5786,100 252,5183,904 135,7964,575 144,8381,344 84,612

38,125 366,06818,976 328,73919,276 173,3856,161 113,2556,100 118,281

19,581 214,30810,187 211,4293,965 187,661

42,395 307,02925,099 117,48521,361 367,034



200

Ascendas REITCapitaLand Ltd.CapitaLand Mall TrustDBS Group Holdings Ltd.Genting Singapore PLCHutchison Port Holdings TrustOversea-Chinese Banking Corp. Ltd.Singapore Press Holdings Ltd.(b)

Singapore Telecommunications Ltd.United Overseas Bank Ltd.

100,165 198,46585,400 220,93175,700 117,16323,100 489,997

140,300 132,17610,200 2,80542,700 400,3573,700 7,276

122,000 299,19616,600 349,265

ABB Ltd., RegisteredAdecco Group AG, RegisteredBaloise Holding AG, RegisteredCie. Financiere Richemont SA, RegisteredCoca-Cola HBC AGCredit Suisse Group AG, RegisteredGeberit AG, RegisteredGivaudan SA, Registered

5,072,547Switzerland — 2.8%

26,291 596,1002,562 154,0691,159 170,4727,259 667,0513,041 103,995

33,926 518,328732 317,044122 272,393




May 31, 2018


Julius Baer Group Ltd.

Kuehne + Nagel International AG, Registered

LafargeHolcim Ltd., Registered

Lonza Group AG, Registered

Nestle SA, Registered

Novartis AG, Registered

Partners Group Holding AG

Roche Holding AG, NVSSchindler Holding AG, NVSSchindler Holding AG, RegisteredSGS SA, RegisteredSonova Holding AG, RegisteredSwatch Group AG (The), BearerSwiss Life Holding AG, RegisteredSwiss Prime Site AG, RegisteredSwiss Re AGSwisscom AG, RegisteredTemenos AGUBS Group AG, RegisteredZurich Insurance Group AG

3i Group PLCAdmiral Group PLCAnglo American PLC(b)

Antofagasta PLCAptiv PLCAshtead Group PLCAssociated British Foods PLCAstraZeneca PLCAuto Trader Group PLC(c)

Aviva PLCBabcock International Group PLCBAE Systems PLCBarclays PLCBHP Billiton PLCBP PLCBritish American Tobacco PLCBritish Land Co. PLC (The)BT Group PLCBunzl PLCBurberry Group PLCCarnival PLCCentrica PLCCompass Group PLCCroda International PLCDiageo PLC


Switzerland (continued)

4,087$

239,042

1,681

254,091

6,588

338,011

976

261,796

40,870

3,092,168

29,036

2,154,884

488

353,429

9,211

1,977,400732 155,022732 150,555122 316,324

1,342 234,792610 296,717549 187,635

1,768 165,3623,660 317,118

408 182,440976 144,946

46,823 707,2751,891 562,049


15,952 202,2893,843 98,464

16,531 395,3309,516 133,5263,617 352,6577,403 229,6225,551 195,741

16,775 1,220,10222,509 105,60950,581 343,7977,198 79,785

45,445 386,654221,430 581,16029,158 670,837

253,394 1,943,16230,063 1,547,73012,993 117,220

112,118 305,6907,137 217,4786,527 179,6963,172 204,161

72,529 140,80921,071 453,5172,950 183,003

32,635 1,199,637

Johnson Matthey PLC

Kingfisher PLC

Land Securities Group PLC

Legal & General Group PLC

Lloyds Banking Group PLC

London Stock Exchange Group PLC

Marks & Spencer Group PLC

Meggitt PLCMelrose Industries PLCMicro Focus International PLCNational Grid PLCNext PLCNMC Health PLCOld Mutual PLCPearson PLCPrudential PLCRandgold Resources Ltd.Reckitt Benckiser Group PLCRELX PLCRio Tinto PLCRolls-Royce Holdings PLCRolls-Royce Holdings PLC, NVS(a)(e)

Royal Bank of Scotland Group PLC(a)

Royal Dutch Shell PLC, Class ARoyal Dutch Shell PLC, Class BRSA Insurance Group PLCSage Group PLC (The)Segro PLCSevern Trent PLCShire PLCSky PLCSmith & Nephew PLCSmiths Group PLCSSE PLCStandard Chartered PLCStandard Life Aberdeen PLCTaylor Wimpey PLCTesco PLCUnilever PLCUnited Utilities Group PLCVodafone Group PLCWeir Group PLC (The)Whitbread PLCWPP PLC

3M Co.


United Kingdom (continued)

3,174$

148,371

31,476

127,829

10,580

130,872

76,433

274,402

915,732

770,226

5,494

327,295

22,692

85,754

15,860

103,76964,379 202,1723,124 55,412

39,284 435,5932,257 174,1901,708 80,092

71,980 229,68111,712 140,51134,526 832,0101,142 90,6908,601 659,342

16,592 364,84216,714 942,99724,949 273,754

1,771,379 2,35753,070 194,26956,394 1,956,31251,182 1,823,18119,171 166,27420,313 179,04322,842 198,9645,246 138,844

12,157 663,24613,359 239,44512,749 232,1598,357 195,772

12,523 227,87745,019 452,04039,255 183,08366,734 168,853

127,978 418,41217,263 952,49312,627 130,351

336,845 859,7814,392 128,0472,806 157,380

17,324 284,118

34,552,413United States — 59.9%

7,747 1,527,941



201

Experian PLCFerguson PLCG4S PLCGlaxoSmithKline PLCGlencore PLCHammerson PLCHSBC Holdings PLCImperial Brands PLCInterContinental Hotels Group PLCIntertek Group PLCInvestec PLCITV PLCJ Sainsbury PLC

14,396 352,7593,488 271,145

29,768 106,91062,281 1,263,004

164,887 816,30412,688 92,352

261,141 2,503,99512,078 435,5403,398 217,6673,660 266,204

13,481 99,66655,815 120,76327,464 116,323

Abbott LaboratoriesAbbVie Inc.ABIOMED Inc.(a)

Accenture PLC, Class AActivision Blizzard Inc.Acuity Brands Inc.Adobe Systems Inc.(a)

Advance Auto Parts Inc.Advanced Micro Devices Inc.(a)

AES Corp./VAAetna Inc.Affiliated Managers Group Inc.Aflac Inc.

22,064 1,357,59821,045 2,082,192

549 209,2468,113 1,263,5199,761 692,152

427 50,4936,771 1,687,8751,220 156,916

11,102 152,4308,967 114,3294,636 816,539

976 155,43810,370 467,272




May 31, 2018


AGCO Corp.

Agilent Technologies Inc.

AGNC Investment Corp.

Air Products & Chemicals Inc.

Akamai Technologies Inc.(a)

Albemarle Corp.

Alexion Pharmaceuticals Inc.(a)

Align Technology Inc.(a)

Alkermes PLC(a)

Alleghany Corp.Allergan PLCAlliance Data Systems Corp.Alliant Energy Corp.Allstate Corp. (The)Alnylam Pharmaceuticals Inc.(a)

Alphabet Inc., Class A(a)

Alphabet Inc., Class C, NVS(a)

Altria Group Inc.Amazon.com Inc.(a)

Ameren Corp.American Airlines Group Inc.American Electric Power Co. Inc.American Express Co.American International Group Inc.American Tower Corp.American Water Works Co. Inc.Ameriprise Financial Inc.AmerisourceBergen Corp.AMETEK Inc.Amgen Inc.Amphenol Corp., Class AAnadarko Petroleum Corp.Analog Devices Inc.AndeavorAnnaly Capital Management Inc.ANSYS Inc.(a)

Anthem Inc.Aon PLCApache Corp.Apple Inc.Applied Materials Inc.Arch Capital Group Ltd.(a)

Archer-Daniels-Midland Co.Arconic Inc.Arista Networks Inc.(a)

Arrow Electronics Inc.(a)

Assurant Inc.



1,403$

89,231

5,673

351,272

5,843

109,965

2,806

452,916

2,623

197,722

1,831

171,144

3,172

368,364

1,117

370,7882,745 129,564

151 86,1554,453 671,512

793 167,1804,453 184,4434,758 444,7781,140 113,3963,904 4,294,4004,148 4,500,538

24,950 1,390,7135,429 8,847,2074,026 238,2991,891 82,3346,466 439,3659,943 977,397

11,734 619,4385,978 827,1763,660 304,2922,013 279,0622,318 190,4014,087 298,4749,577 1,720,2214,758 413,6137,381 515,1945,234 508,6402,257 325,978

15,921 166,0561,587 258,3643,538 783,3843,500 489,5455,124 204,960

67,962 12,700,05915,279 775,8682,257 177,0627,930 346,7005,780 102,017

683 171,8151,830 135,6401,220 113,887

Baxter International Inc.

BB&T Corp.

Becton Dickinson and Co.

Berkshire Hathaway Inc., Class B(a)

Best Buy Co. Inc.

Biogen Inc.(a)

BioMarin Pharmaceutical Inc.(a)

BlackRock Inc.(f)Boeing Co. (The)Booking Holdings Inc.(a)

BorgWarner Inc.Boston Properties Inc.Boston Scientific Corp.(a)

Brighthouse Financial Inc.(a)

Bristol-Myers Squibb Co.Broadcom Inc.Brown-Forman Corp., Class B, NVSBunge Ltd.CA Inc.Cabot Oil & Gas Corp.Cadence Design Systems Inc.(a)

Campbell Soup Co.Capital One Financial Corp.Cardinal Health Inc.CarMax Inc.(a)

Carnival Corp.Caterpillar Inc.CBRE Group Inc., Class A(a)

CBS Corp., Class B, NVSCDK Global Inc.Celanese Corp., Series ACelgene Corp.(a)

Centene Corp.(a)

CenterPoint Energy Inc.CenturyLink Inc.Cerner Corp.(a)

CF Industries Holdings Inc.CH Robinson Worldwide Inc.Charles Schwab Corp. (The)Charter Communications Inc., Class A(a)

Chemours Co. (The)Cheniere Energy Inc.(a)

Chevron Corp.Chipotle Mexican Grill Inc.(a)

Chubb Ltd.Church & Dwight Co. Inc.Cigna Corp.



6,527$

462,373

10,371

544,477

3,798

841,599

15,703

3,007,596

3,965

270,611

2,928

860,715

2,928

264,516

1,586

847,2897,686 2,706,702

671 1,415,0853,233 157,7062,318 282,263

19,215 583,9441,320 62,185

21,592 1,136,1715,429 1,368,4883,965 224,2602,135 148,4894,697 167,8717,442 170,0503,355 142,4203,355 112,8626,771 636,4744,392 228,7792,806 193,3904,209 262,1377,625 1,158,3144,819 222,5904,960 249,8352,501 160,9392,379 268,637

10,370 815,9122,867 335,8986,405 167,363

13,916 253,5504,148 247,5533,483 143,2912,501 217,587

16,592 922,8472,269 592,3002,569 125,8553,416 227,574

24,583 3,055,667366 157,446

5,621 734,6084,636 217,6603,538 599,231



202

AT&T Inc.Autodesk Inc.(a)

Autoliv Inc.Automatic Data Processing Inc.AutoZone Inc.(a)

AvalonBay Communities Inc.Avery Dennison Corp.Avnet Inc.Axis Capital Holdings Ltd.Baker Hughes a GE Co.Ball Corp.Bank of America Corp.Bank of New York Mellon Corp. (The)

82,594 2,669,4383,050 393,7551,342 198,5766,039 785,191

427 277,2601,830 302,9381,952 205,0192,501 95,3382,074 117,9075,856 202,5597,137 263,712

129,442 3,758,99613,969 764,803

Cimarex Energy Co.Cincinnati Financial Corp.Cintas Corp.Cisco Systems Inc.CIT Group Inc.Citigroup Inc.Citizens Financial Group Inc.Citrix Systems Inc.(a)

Clorox Co. (The)CME Group Inc.CMS Energy Corp.Coca-Cola Co. (The)Cognex Corp.

1,464 136,0352,318 160,8001,769 322,400

64,416 2,751,2073,294 164,469

33,611 2,241,5188,324 340,0352,623 277,0412,075 250,7224,514 735,3314,880 225,114

51,728 2,224,3043,060 139,873




May 31, 2018



Colgate-Palmolive Co.

Comcast Corp., Class A

Comerica Inc.

Conagra Brands Inc.

Concho Resources Inc.(a)

ConocoPhillips

Consolidated Edison Inc.Constellation Brands Inc., Class AContinental Resources Inc./OK(a)(b)

Copart Inc.(a)

Corning Inc.CoStar Group Inc.(a)

Costco Wholesale Corp.Coty Inc., Class ACrown Castle International Corp.Crown Holdings Inc.(a)

CSX Corp.Cummins Inc.CVS Health Corp.Danaher Corp.Darden Restaurants Inc.DaVita Inc.(a)

Deere & Co.Dell Technologies Inc., Class V(a)

Delta Air Lines Inc.DENTSPLY SIRONA Inc.Devon Energy Corp.Diamondback Energy Inc.Digital Realty Trust Inc.Discover Financial ServicesDiscovery Inc., Class A(a)(b)

Discovery Inc., Class C, NVS(a)

DISH Network Corp., Class A(a)

Dollar General Corp.Dollar Tree Inc.(a)

Dominion Energy Inc.Domino's Pizza Inc.Dover Corp.DowDuPont Inc.DR Horton Inc.Dr Pepper Snapple Group Inc.DTE Energy Co.Duke Energy Corp.Duke Realty Corp.DXC Technology Co.Eastman Chemical Co.



8,174$

615,911

11,041

696,577

61,854

1,928,608

3,416

322,095

6,710

248,673

2,135

293,157

16,104

1,085,249

4,392

336,9982,562 571,5311,594 107,3402,684 147,164

14,152 384,510427 162,781

5,856 1,160,8938,196 108,5975,429 565,4302,928 126,900

11,895 769,0122,318 330,060

13,359 846,8277,991 793,3462,135 186,6202,135 142,7033,721 556,3272,929 236,2532,338 126,3693,416 149,6556,710 278,935

793 95,7632,928 314,7015,551 409,9972,074 43,7415,385 106,4613,294 97,3384,026 352,1943,233 267,0137,869 505,111

488 122,7222,745 211,941

29,376 1,883,2955,368 226,5832,928 349,3102,623 268,6748,540 658,9467,564 212,7004,197 386,5862,318 241,791

Equinix Inc.

Equity Residential

Essex Property Trust Inc.

Estee Lauder Companies Inc. (The), Class A

Everest Re Group Ltd.

Eversource Energy

Exelon Corp.

Expedia Group Inc.Expeditors International of Washington Inc.Express Scripts Holding Co.(a)

Exxon Mobil Corp.F5 Networks Inc.(a)


Fastenal Co.Federal Realty Investment TrustFedEx Corp.Fidelity National Information Services Inc.Fifth Third Bancorp.First Data Corp., Class A(a)

First Republic Bank/CA(b)

FirstEnergy Corp.Fiserv Inc.(a)

FleetCor Technologies Inc.(a)

Flex Ltd.(a)

FLIR Systems Inc.Flowserve Corp.Fluor Corp.FMC Corp.FNF GroupFord Motor Co.Fortive Corp.Franklin Resources Inc.Freeport-McMoRan Inc.Gap Inc. (The)Garmin Ltd.Gartner Inc.(a)

General Dynamics Corp.General Electric Co.General Mills Inc.General Motors Co.Genuine Parts Co.GGP Inc.Gilead Sciences Inc.Global Payments Inc.Goldman Sachs Group Inc. (The)Goodyear Tire & Rubber Co. (The)H&R Block Inc.



1,098$

435,741

5,002

320,078

1,037

247,874

3,050

455,792

707

159,280

4,758

271,587

12,078

499,908

1,769

214,1023,538 263,5107,507 569,106

57,279 4,653,3461,281 221,754

31,659 6,071,5634,209 224,0451,342 159,5503,416 850,9944,392 448,950

11,956 365,6143,965 75,3352,684 267,3266,344 218,3607,076 513,7181,282 255,567

10,553 146,5813,050 164,3952,745 113,4782,623 127,8452,257 196,5624,148 153,310

47,885 553,0724,473 325,1425,307 178,156

17,751 299,9923,599 100,7002,379 142,954

976 129,5543,599 725,954

117,791 1,658,4977,869 332,780

16,592 708,4782,501 227,0668,296 168,243

17,141 1,155,3032,623 291,5734,697 1,060,9584,026 98,3553,416 93,769



203

Eaton Corp. PLCEaton Vance Corp., NVSeBay Inc.(a)

Ecolab Inc.Edison InternationalEdwards Lifesciences Corp.(a)

Electronic Arts Inc.(a)

Eli Lilly & Co.Emerson Electric Co.Entergy Corp.EOG Resources Inc.EQT Corp.Equifax Inc.

5,978 457,7952,440 131,272

13,603 513,1053,843 548,0504,514 280,5903,050 418,7954,331 566,971

12,932 1,099,7378,296 587,6892,745 222,0987,381 869,5563,861 198,9961,708 194,644

Halliburton Co.Hanesbrands Inc.Harley-Davidson Inc.Harris Corp.Hartford Financial Services Group Inc. (The)Hasbro Inc.HCA Healthcare Inc.HCP Inc.Helmerich & Payne Inc.Henry Schein Inc.(a)

Hershey Co. (The)Hess Corp.Hewlett Packard Enterprise Co.

11,468 570,4185,551 101,1952,501 102,7411,999 300,7905,673 296,8681,709 148,2563,965 408,9506,771 162,3011,586 105,2792,392 165,5262,379 214,2053,904 235,880

20,748 316,200




May 31, 2018


Hilton Worldwide Holdings Inc.

HollyFrontier Corp.

Hologic Inc.(a)

Home Depot Inc. (The)

Honeywell International Inc.

Hormel Foods Corp.

Host Hotels & Resorts Inc.(b)

HP Inc.Humana Inc.Huntington Bancshares Inc./OHIAC/InterActiveCorp.(a)

IDEXX Laboratories Inc.(a)

IHS Markit Ltd.(a)

Illinois Tool Works Inc.Illumina Inc.(a)

Incyte Corp.(a)

Ingersoll-Rand PLCIntel Corp.Intercontinental Exchange Inc.International Business Machines Corp.International Flavors & Fragrances Inc.International Paper Co.Interpublic Group of Companies Inc. (The)Intuit Inc.Intuitive Surgical Inc.(a)

Invesco Ltd.IPG Photonics Corp.(a)

Iron Mountain Inc.Jacobs Engineering Group Inc.Jazz Pharmaceuticals PLC(a)

JB Hunt Transport Services Inc.Jefferies Financial Group Inc.JM Smucker Co. (The)Johnson & JohnsonJohnson Controls International PLCJPMorgan Chase & Co.Juniper Networks Inc.Kansas City SouthernKellogg Co.KeyCorp.Keysight Technologies Inc.(a)

Kimberly-Clark Corp.Kimco Realty Corp.Kinder Morgan Inc./DEKLA-Tencor Corp.Kohl's Corp.Kraft Heinz Co. (The)



3,052$

246,327

2,989

230,691

4,299

162,889

15,250

2,844,887

9,272

1,371,422

4,819

172,954

10,004

216,387

23,851

525,4382,074 603,493

16,874 250,916873 135,437915 190,512

5,429 267,5414,453 639,8962,135 581,6592,623 179,0723,904 341,756

61,123 3,373,9908,174 579,455

11,468 1,620,5431,403 171,3485,368 287,1886,771 153,0253,538 713,2611,708 785,1166,405 174,985

427 103,0224,167 138,7192,440 158,112

976 164,9441,586 203,1676,100 133,4681,891 203,282

34,905 4,175,33613,486 452,59046,360 4,960,9845,856 156,0041,891 202,6213,843 247,451

16,470 320,1771,586 93,1625,002 504,4527,159 110,678

30,439 507,7232,434 275,6022,867 191,3728,784 504,904

LKQ Corp.(a)

Lockheed Martin Corp.

Loews Corp.

Lowe's Companies Inc.

Lululemon Athletica Inc.(a)

LyondellBasell Industries NV, Class A

M&T Bank Corp.

Macerich Co. (The)Macy's Inc.ManpowerGroup Inc.Marathon Oil Corp.Marathon Petroleum Corp.Markel Corp.(a)

Marriott International Inc./MD, Class AMarsh & McLennan Companies Inc.Martin Marietta Materials Inc.Marvell Technology Group Ltd.Masco Corp.Mastercard Inc., Class A(b)

Mattel Inc.(b)

Maxim Integrated Products Inc.McCormick & Co. Inc./MD, NVSMcDonald's Corp.McKesson Corp.Medtronic PLCMercadoLibre Inc.(b)

Merck & Co. Inc.MetLife Inc.MGM Resorts InternationalMichael Kors Holdings Ltd.(a)

Microchip Technology Inc.Micron Technology Inc.(a)

Microsoft Corp.Mohawk Industries Inc.(a)

Molson Coors Brewing Co., Class BMondelez International Inc., Class AMonsanto Co.Monster Beverage Corp.(a)

Moody's Corp.Morgan StanleyMosaic Co. (The)Motorola Solutions Inc.Mylan NV(a)

Nasdaq Inc.National Oilwell Varco Inc.Nektar Therapeutics(a)

NetApp Inc.



5,246$

166,665

3,381

1,063,460

4,270

208,675

11,102

1,054,801

1,708

179,425

4,636

519,788

2,074

356,894

1,952

108,5904,331 151,1951,220 109,800

12,445 266,6967,320 578,500

244 267,6884,583 620,3556,711 539,363

976 217,5216,219 133,9575,612 209,159

12,505 2,377,4514,880 75,7384,575 268,3242,501 252,601

10,614 1,698,3462,928 415,600

17,263 1,490,142549 159,666

34,916 2,078,54911,834 544,2467,137 224,4592,135 122,5283,965 386,112

15,290 880,55196,746 9,562,3751,098 224,0362,623 161,708

20,252 795,2965,795 738,6315,673 290,2312,867 489,024

19,581 981,7914,941 135,8282,623 281,5536,771 260,4132,135 196,1215,368 222,3432,135 171,3763,660 250,051



204

Kroger Co. (The)L Brands Inc.L3 Technologies Inc.Laboratory Corp. of America Holdings(a)

Lam Research Corp.Las Vegas Sands Corp.Leggett & Platt Inc.Lennar Corp., Class ALiberty Global PLC, Series A(a)

Liberty Global PLC, Series C, NVS(a)

Liberty Media Corp.-Liberty SiriusXM, Class C, NVS(a)

Liberty Property TrustLincoln National Corp.

12,322 299,7943,477 117,9051,342 266,1591,647 297,4322,542 503,7745,429 437,6324,453 183,9092,623 135,7143,782 107,8256,893 190,7984,697 216,9543,111 137,5373,416 226,447

Netflix Inc.(a)

New York Community Bancorp. Inc.Newell Brands Inc.Newfield Exploration Co.(a)

Newmont Mining Corp.News Corp., Class A, NVSNextEra Energy Inc.Nielsen Holdings PLCNIKE Inc., Class BNoble Energy Inc.Nordstrom Inc.(b)

Norfolk Southern Corp.Northern Trust Corp.

5,795 2,037,5229,699 112,4117,954 187,5553,086 90,2357,503 292,0925,981 89,8946,240 1,034,6544,880 147,230

16,775 1,204,4456,588 235,1922,135 104,6793,965 601,2923,172 325,193




May 31, 2018


Northrop Grumman Corp.

Nucor Corp.

NVIDIA Corp.

O'Reilly Automotive Inc.(a)

Occidental Petroleum Corp.

Omnicom Group Inc.

ON Semiconductor Corp.(a)

ONEOK Inc.Oracle Corp.PACCAR Inc.Palo Alto Networks Inc.(a)

Parker-Hannifin Corp.Paychex Inc.PayPal Holdings Inc.(a)

Pentair PLCPeople's United Financial Inc.PepsiCo Inc.Perrigo Co. PLCPfizer Inc.PG&E Corp.Philip Morris International Inc.Phillips 66Pinnacle West Capital Corp.Pioneer Natural Resources Co.Plains GP Holdings LP, Class APNC Financial Services Group Inc. (The)(f)PPG Industries Inc.PPL Corp.Praxair Inc.Principal Financial Group Inc.Procter & Gamble Co. (The)Progressive Corp. (The)Prologis Inc.Prudential Financial Inc.Public Service Enterprise Group Inc.Public StoragePulteGroup Inc.PVH Corp.Qorvo Inc.(a)

QUALCOMM Inc.Quest Diagnostics Inc.Qurate Retail Inc., Class A(a)

Ralph Lauren Corp.Raytheon Co.Realty Income Corp.Red Hat Inc.(a)

Regency Centers Corp.



2,318$

758,565

4,453

285,838

7,869

1,984,483

1,161

312,785

10,065

847,473

3,477

250,622

2,928

73,581

5,309

361,86139,955 1,866,6985,002 311,2741,525 317,3372,196 375,2964,636 304,029

15,433 1,266,5863,111 135,7648,784 161,713

18,117 1,816,2292,074 151,734

73,993 2,658,5686,649 288,101

20,557 1,635,1046,161 717,6952,257 179,6802,318 447,6062,318 56,9535,490 787,3213,782 381,6799,412 257,1363,660 571,9124,087 228,055

33,163 2,426,5378,663 537,8867,442 478,8935,795 561,1887,503 397,5092,013 426,4345,490 166,0721,220 195,2002,270 182,167

19,276 1,120,3212,074 220,9437,320 148,816

976 131,3504,087 856,2264,087 217,8373,152 511,9483,111 180,687

salesforce.com Inc.(a)

SBA Communications Corp.(a)

SCANA Corp.

Schlumberger Ltd.

Seagate Technology PLC

Seattle Genetics Inc.(a)(b)

SEI Investments Co.

Sempra EnergyServiceNow Inc.(a)

Sherwin-Williams Co. (The)Simon Property Group Inc.Sirius XM Holdings Inc.(b)

Skyworks Solutions Inc.SL Green Realty Corp.Southern Co. (The)Southwest Airlines Co.Spirit AeroSystems Holdings Inc., Class ASplunk Inc.(a)

Sprint Corp.(a)(b)

Square Inc., Class A(a)

SS&C Technologies Holdings Inc.Stanley Black & Decker Inc.Starbucks Corp.State Street Corp.Stericycle Inc.(a)

Stryker Corp.SunTrust Banks Inc.SVB Financial Group(a)

Symantec Corp.Synchrony FinancialSynopsys Inc.(a)

Sysco Corp.T-Mobile U.S. Inc.(a)

T Rowe Price Group Inc.Take-Two Interactive Software Inc.(a)

Tapestry Inc.Targa Resources Corp.Target Corp.TD Ameritrade Holding Corp.TE Connectivity Ltd.TechnipFMC PLCTesla Inc.(a)(b)

Texas Instruments Inc.Textron Inc.Thermo Fisher Scientific Inc.Tiffany & Co.Time Warner Inc.



8,845$

1,143,924

1,952

308,553

2,379

86,358

17,091

1,173,639

3,538

199,366

1,733

104,829

3,294

210,091

3,111

331,4152,562 455,0371,159 439,5513,907 625,980

33,123 235,1732,806 276,7001,551 151,254

11,529 517,6522,074 105,9401,037 87,8442,257 250,098

14,097 72,4593,660 213,1952,074 105,5872,318 322,758

18,483 1,047,4324,943 475,0721,403 89,0904,392 764,2966,649 448,874

671 209,4399,291 193,0679,764 338,1273,416 300,8477,320 476,0204,514 251,4303,538 429,5841,388 155,5674,148 181,3514,148 201,7177,198 524,6623,965 234,7284,819 448,5537,381 229,9181,830 521,056

12,200 1,365,3024,453 296,4815,307 1,105,2891,647 215,395

10,126 953,464



205

Regeneron Pharmaceuticals Inc.(a)

Regions Financial Corp.Reinsurance Group of America Inc.RenaissanceRe Holdings Ltd.Republic Services Inc.ResMed Inc.Robert Half International Inc.Rockwell Automation Inc.Rockwell Collins Inc.Roper Technologies Inc.Ross Stores Inc.Royal Caribbean Cruises Ltd.S&P Global Inc.

1,098 329,75119,703 359,383

819 122,391397 48,740

4,148 279,7001,464 150,5142,562 163,1482,074 363,8002,562 352,3011,647 454,2265,490 433,0512,318 243,3443,843 758,992

TJX Companies Inc. (The)Toll Brothers Inc.Torchmark Corp.Total System Services Inc.Tractor Supply Co.TransDigm Group Inc.TransUnionTravelers Companies Inc. (The)Trimble Inc.(a)

TripAdvisor Inc.(a)

Twenty-First Century Fox Inc., Class A, NVSTwenty-First Century Fox Inc., Class BTwitter Inc.(a)

8,418 760,3143,782 149,3512,207 187,2203,050 259,8292,074 154,119

793 264,9492,074 142,2763,088 396,8704,392 145,2001,952 101,777

16,714 644,3253,111 118,7479,394 325,972




May 31, 2018


Tyson Foods Inc., Class A

U.S. Bancorp.

UDR Inc.

Ulta Salon Cosmetics & Fragrance Inc.(a)

Under Armour Inc., Class A(a)

Under Armour Inc., Class C, NVS(a)

Union Pacific Corp.

United Parcel Service Inc., Class BUnited Rentals Inc.(a)

United Technologies Corp.UnitedHealth Group Inc.Universal Health Services Inc., Class BUnum GroupValero Energy Corp.Varian Medical Systems Inc.(a)

Veeva Systems Inc., Class A(a)

Ventas Inc.VEREIT Inc.VeriSign Inc.(a)

Verisk Analytics Inc.(a)

Verizon Communications Inc.Vertex Pharmaceuticals Inc.(a)

VF Corp.Viacom Inc., Class B, NVSVisa Inc., Class AVMware Inc., Class A(a)(b)

Vornado Realty TrustVulcan Materials Co.Walmart Inc.Walgreens Boots Alliance Inc.Walt Disney Co. (The)Waste Management Inc.Waters Corp.(a)

WEC Energy Group Inc.Wells Fargo & Co.Welltower Inc.Western Digital Corp.Western Union Co. (The)WestRock Co.Weyerhaeuser Co.Whirlpool Corp.Williams Companies Inc. (The)Willis Towers Watson PLCWorkday Inc., Class A(a)

Worldpay Inc., Class A(a)

WR Berkley Corp.WW Grainger Inc.



4,392$

296,328

21,533

1,076,435

4,819

175,749

915

225,923

2,745

57,370

2,757

52,162

10,614

1,515,255

8,906

1,034,1651,342 214,143

10,004 1,248,69912,627 3,049,5471,342 154,3033,599 139,6776,222 754,1061,647 194,1321,823 141,0275,012 273,956

22,387 160,2911,952 254,6192,501 265,706

53,375 2,544,3863,660 563,6404,636 376,2584,880 132,248

24,034 3,141,7241,159 159,3392,562 178,5972,135 272,725

19,581 1,616,21611,590 723,10019,947 1,984,1285,917 489,3951,403 270,2464,943 312,150

61,488 3,319,7374,941 284,8494,103 342,6428,235 163,7944,157 244,764

10,614 396,2211,159 167,765

11,590 311,3071,769 267,3841,892 247,7763,643 289,5092,318 177,257

785 242,557

Zillow Group Inc., Class C, NVS(a)(b)

Zimmer Biomet Holdings Inc.Zoetis Inc.


Henkel AG & Co. KGaA, Preference Shares, NVSPorsche Automobil Holding SE, Preference Shares,NVSSartorius AG, Preference Shares, NVSVolkswagen AG, Preference Shares, NVS


Ferrovial SA, NVS (Expires 06/05/18)(a)



BlackRock Cash Funds: Treasury, SL Agency Shares,1.64%(f)(g)





United States (continued) 2,520 $ 146,992 2,623 292,491 7,015 587,155

323,377,169

535,101,005Preferred StocksGermany — 0.2%

2,379 293,391

2,379 175,174671 98,142

2,928 550,069

1,116,776

1,116,776RightsSpain — 0.0%

8,290 3,019


8,081,147 8,082,763

758,011 758,011

8,840,774

8,840,774

545,061,574(5,247,988)

$ 539,813,586



(d) This security may be resold to qualified foreign investors and foreign institutionalbuyers under Regulation S of the Securities Act of 1933.

(e) Security is valued using significant unobservable inputs and is classified as Level3 in the fair value hierarchy.

(f) Affiliate of the Fund.(g) Annualized 7-day yield as of period-end.(h) All or a portion of this security was purchased with cash collateral received from

loaned securities.



206

Wyndham Worldwide Corp.Wynn Resorts Ltd.Xcel Energy Inc.Xerox Corp.Xilinx Inc.XL Group Ltd.XPO Logistics Inc.(a)

Xylem Inc./NYYum! Brands Inc.

1,769 191,8301,220 239,1327,076 322,1003,157 85,8073,599 245,1284,087 227,1551,281 134,8252,745 193,2484,758 386,968



BlackRock Cash Funds: Institutional, SLAgency SharesBlackRock Cash Funds: Treasury, SL AgencySharesBlackRock Inc.PNC Financial Services Group Inc. (The)

MSCI EAFE E-MiniS&P 500 E-Mini

Common StocksPreferred StocksRightsMoney Market Funds

Futures Contracts

Futures Contracts

iShares® MSCI World ETF Schedule of Investments (unaudited) (continued)

May 31, 2018

Affiliates


Affiliated Issuer


Shares Purchased

SharesSold


Value at 05/31/18

Income

Net



7,849,531 231,616 (a) — 8,081,147$

8,082,763

$36,569(b)

$(1,075)

$(443)

287,312 470,699 (a) — 758,011 758,011

6,863

—

—

1,612 130 (156) 1,586 847,289 8,598 34,904 154,3706,510 505 (1,525) 5,490 787,321 14,427 48,924 73,404

$10,475,384

$66,457

$82,753

$227,331




Description

Numberof

ContractsExpiration

Date

NotionalAmount

(000)


(Depreciation)


$1,490 $ (23,813)

15 06/15/18 2,029 6,738

$ (17,075)




Investments

Assets

$535,098,648 $ — $ 2,357 $535,101,005 1,116,776 — — 1,116,776 3,019 — — 3,019 8,840,774 — — 8,840,774

$545,059,217 $ — $ 2,357 $545,061,574


Assets

$ 6,738

$—

$—

$ 6,738

Liabilities

(23,813) — — (23,813)

$

(17,075)

$—

$—

$(17,075)



ADRNVSSDR


Portfolio Abbreviations - EquityAmerican Depositary ReceiptNon-Voting SharesSwedish Depositary Receipt

207



Item 2. Controls and Procedures.

(a) The President (the registrant’s Principal Executive Officer) and Chief Financial Officer (the registrant’s PrincipalFinancial Officer) have concluded that, based on their evaluation as of a date within 90 days of the filing date of thisreport, the disclosure controls and procedures of the registrant (as defined in Rule 30a-3(c) under the InvestmentCompany Act of 1940) are reasonably designed to achieve the purposes described in Section 4(a) of the certificationsfiled with this Form N-Q.

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the

Investment Company Act of 1940) that occurred during the registrant’s last fiscal quarter that have materially affected,or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

(a) Certifications of the President (the registrant’s Principal Executive Officer) and Treasurer and Chief Financial Officer

(the registrant’s Principal Financial Officer) as required by Rule 30a-2(a) under the Investment Company Act of 1940 isfiled with this Form N-Q as exhibits.



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registranthas duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

iShares, Inc.

By: /s/ Martin Small

Martin Small, President (Principal ExecutiveOfficer)

Date: July 30, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this reporthas been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Martin Small

Martin Small, President (Principal ExecutiveOfficer)

Date: July 30, 2018

By: /s/ Jack Gee

Jack Gee, Treasurer and Chief FinancialOfficer (Principal Financial Officer)

Date: July 30, 2018

Documents

FUND QUARTERLY PORTFOLIO HOLDINGS – AS OF 31 MAY 2018 · portfolio holdings of various iShares ETFs with a fiscal year end of 31 August 2018, including those detailed in the below