LOGO

  FEBRUARY 29, 2024

 

 

 

2024 Semi-Annual Report

(Unaudited)

 

 

 

 

iShares, Inc.

· iShares Core MSCI Emerging Markets ETF | IEMG | NYSE Arca

· iShares MSCI BIC ETF | BKF | NYSE Arca

· iShares MSCI Emerging Markets Asia ETF | EEMA | NASDAQ

· iShares MSCI Emerging Markets Small-Cap ETF | EEMS | NYSE Arca


The Markets in Review

Dear Shareholder,

The combination of continued economic growth and cooling inflation provided a supportive backdrop for investors during the 12-month reporting period ended February 29, 2024. Significantly tighter monetary policy helped to rein in inflation, and the Consumer Price Index decelerated substantially while remaining above pre-pandemic levels. A moderating labor market helped ease inflationary pressure, although wages continued to grow. Wage and job growth powered robust consumer spending, backstopping the economy. On October 7, 2023, Hamas launched a horrific attack on Israel. The ensuing war will have a significant humanitarian impact and could lead to heightened economic and market volatility. We see geopolitics as a structural market risk going forward. See our geopolitical risk dashboard at blackrock.com for more details.

Equity returns were robust during the period, as interest rates stabilized and the economy proved to be more resilient than many investors expected. The U.S. economy continued to show strength, and growth further accelerated in the second half of 2023. Large-capitalization U.S. stocks posted particularly substantial gains, supported by the performance of a few notable technology companies, while small-capitalization U.S. stocks advanced at a significantly slower pace. Meanwhile, international developed market equities also gained strongly, while emerging market stocks advanced at a more modest pace.

The 10-year U.S. Treasury yield rose during the reporting period, as investors reacted to elevated inflation and attempted to anticipate future interest rate changes. However, higher yields drove positive returns overall for 10-year U.S. Treasuries and solid gains in shorter-duration U.S. Treasuries. The corporate bond market benefited from improving economic sentiment, although high-yield corporate bond prices fared significantly better than investment-grade bonds as demand from yield-seeking investors remained strong.

The U.S. Federal Reserve (the “Fed”), attempting to manage persistent inflation, raised interest rates three times during the 12-month period, but paused its tightening after its July meeting. The Fed also continued to reduce its balance sheet by not replacing some of the securities that reach maturity.

Supply constraints appear to have become an embedded feature of the new macroeconomic environment, making it difficult for developed economies to increase production without sparking higher inflation. Geopolitical fragmentation and an aging population risk further exacerbating these constraints, keeping the labor market tight and wage growth high. Although the Fed has stopped tightening for now, we believe that the new economic regime means that the Fed will need to maintain high rates for an extended period despite the market’s hopes for rapid interest rate cuts, as reflected in the recent rally. In this new regime, we anticipate greater volatility and dispersion of returns, creating more opportunities for selective portfolio management.

Looking at developed market stocks, we have an overweight stance on U.S. stocks overall, particularly given the promise of emerging AI technologies. We are also overweight Japanese stocks as shareholder-friendly policies generate increased investor interest, although we maintain an underweight stance on European stocks. In credit, there are selective opportunities in the near term despite tighter credit and financial conditions. For fixed income investing with a six- to twelve-month horizon, we see the most attractive investments in short-term U.S. Treasuries and hard-currency emerging market bonds.

Overall, our view is that investors need to think globally, position themselves to be prepared for a decarbonizing economy, and be nimble as market conditions change. We encourage you to talk with your financial advisor and visit iShares.com for further insight about investing in today’s markets.

 

LOGO

Rob Kapito

President, BlackRock Inc.

LOGO

Rob Kapito

President, BlackRock Inc.

 

Total Returns as of February 29, 2024

 

 
    

 

 6-Month 

 

   

 

 12-Month 

 

 
   

U.S. large cap equities
(S&P 500® Index)

    13.93%        30.45%   
   

U.S. small cap equities

(Russell 2000® Index)

    8.97          10.05     
   

International equities
(MSCI Europe, Australasia, Far East Index)

    9.23          14.41     
   

Emerging market equities
(MSCI Emerging Markets Index)

    4.93          8.73     
   

3-month Treasury bills
(ICE BofA 3-Month
U.S. Treasury Bill Index)

    2.69          5.22     
   

U.S. Treasury securities (ICE BofA 10-Year
U.S. Treasury Index)

    0.58          0.69     
   

U.S. investment grade bonds
(Bloomberg U.S. Aggregate Bond Index)

    2.35          3.33     
   

Tax-exempt municipal bonds
(Bloomberg Municipal Bond Index)

    4.33          5.42     
   

U.S. high yield bonds
(Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)

    6.18          11.01     
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

 

 

 

2  

T H I S  P A G EI SN O T  P A R TO F  Y O U R  F U N D  R E P O R T


Table of Contents

 

     Page  

 

 

The Markets in Review

     2  

Semi-Annual Report:

  

Fund Summary

     4  

About Fund Performance

     8  

Disclosure of Expenses

     8  

Schedules of Investments

     9  

Financial Statements

  

Statements of Assets and Liabilities

     74  

Statements of Operations

     75  

Statements of Changes in Net Assets

     76  

Financial Highlights

     78  

Notes to Financial Statements

     82  

Statement Regarding Liquidity Risk Management Program

     93  

Supplemental Information

     94  

General Information

     95  

Glossary of Terms Used in this Report

     96  

 

 

 


Fund Summary as of February 29, 2024    iShares® Core MSCI Emerging Markets ETF

 

Investment Objective

The iSharesCore MSCI Emerging Markets ETF (the “Fund”) seeks to track the investment results of an index composed of large-, mid- and small-capitalization emerging market equities, as represented by the MSCI Emerging Markets Investable Market Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Performance

 

          Average Annual Total Returns            Cumulative Total Returns  
    

6-Month

Total Returns

    1 Year     5 Years     10 Years             1 Year     5 Years     10 Years  

Fund NAV

    5.08     10.04     2.53     3.23        10.04     13.30     37.41

Fund Market

    4.67       9.52       2.50       3.23          9.52       13.17       37.42  

Index

    5.33       10.44       2.73       3.30                10.44       14.39       38.34  

Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.

Expense Example

 

      Actual            Hypothetical 5% Return               
         

Beginning

Account Value

(09/01/23)

 

 

 

            

Ending

Account Value

(02/29/24)

 

 

 

            

Expenses

Paid During

the Period

 

 

(a) 

            

Beginning

Account Value

(09/01/23)

 

 

 

             

Ending

Account Value

(02/29/24)

 

 

 

            

Expenses

Paid During

the Period

 

 

(a) 

            

 Annualized

Expense

Ratio

 

 

 

        $    1,000.00               $   1,050.80               $    0.46                $   1,000.00                $   1,024.40               $    0.45                0.09

 

  (a) 

Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information.

 

Portfolio Information

 

SECTOR ALLOCATION

 

   
Sector  

Percent of  

Total Investments(a)

 

Information Technology

    21.9%  

Financials

    21.1    

Consumer Discretionary

    12.5    

Industrials

    8.5    

Materials

    7.9    

Communication Services

    7.7    

Consumer Staples

    5.8    

Energy

    5.0    

Health Care

    4.5    

Utilities

    2.9    

Real Estate

    2.2    

GEOGRAPHIC ALLOCATION

 

   
Country/Geographic Region  

Percent of  

Total Investments(a)

 

China

    22.8%  

India

    19.2    

Taiwan

    17.6    

South Korea

    12.6    

Brazil

    5.4    

Saudi Arabia

    4.5    

South Africa

    2.6    

Mexico

    2.5    

Indonesia

    1.9    

Thailand

    1.8    

Malaysia

    1.5    

United Arab Emirates

    1.2    

Poland

    1.0    

Turkey

    1.0    

Other (each representing less than 1%)

    4.4    

 

  (a) 

Excludes money market funds.

 

 

 

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Fund Summary as of February 29, 2024    iShares® MSCI BIC ETF

 

Investment Objective

The iShares MSCI BIC ETF(the “Fund”) seeks to track the investment results of an index composed of Chinese equities that are available to international investors, and Brazilian, and Indian equities, as represented by the MSCI BIC Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Performance

 

          Average Annual Total Returns            Cumulative Total Returns  
    

6-Month

Total Returns

    1 Year     5 Years     10 Years             1 Year     5 Years     10 Years  

Fund NAV

    0.02     1.87     (2.37 )%      1.67        1.87     (11.29 )%      18.01

Fund Market

    (0.99     1.73       (2.45     1.71          1.73       (11.68     18.46  

Index

    1.38       3.70       (1.61     2.31                3.70       (7.79     25.70  

Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.

Expense Example

 

    Actual            Hypothetical 5% Return               
     

Beginning

Account Value

(09/01/23)

 

 

 

            

Ending

Account Value

(02/29/24)


 

 

             

Expenses

Paid During

the Period

 

 

(a) 

            

Beginning

Account Value

(09/01/23)

 

 

 

            

Ending

Account Value

(02/29/24)

 

 

 

            

Expenses

Paid During

the Period

 

 

(a) 

            

 Annualized

Expense

Ratio

 

 

 

    $   1,000.00               $ 1,000.20                $    3.58                $   1,000.00               $   1,021.30               $    3.62                0.72

 

  (a) 

Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information.

 

Portfolio Information

 

SECTOR ALLOCATION

 

   
Sector  

Percent of  

Total Investments(a)

 

Financials

    21.0%  

Consumer Discretionary

    20.5    

Communication Services

    11.4    

Energy

    8.6    

Information Technology

    7.8    

Industrials

    6.9    

Consumer Staples

    6.5    

Materials

    6.5    

Health Care

    4.9    

Utilities

    4.3    

Real Estate

    1.6    

GEOGRAPHIC ALLOCATION

 

   
Country/Geographic Region  

Percent of  

Total Investments(a)

 

China

    51.9%  

India

    36.8    

Brazil

    11.3    

Russia

    0.0    

Kazakhstan

    0.0    

 

  (a) 

Excludes money market funds.

 

 

 

F U N D  S U M M A R Y

  5


Fund Summary as of February 29, 2024    iShares® MSCI Emerging Markets Asia ETF

 

Investment Objective

The iShares MSCI Emerging Markets Asia ETF (the “Fund”) seeks to track the investment results of an index composed of Asian emerging market equities, as represented by the MSCI EM Asia Custom Capped Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Performance

 

          Average Annual Total Returns            Cumulative Total Returns  
    

6-Month

Total Returns

    1 Year     5 Years     10 Years             1 Year     5 Years     10 Years  

Fund NAV

    3.59     5.79     1.90     3.78        5.79     9.88     44.98

Fund Market

    2.70       4.91       1.78       3.71          4.91       9.20       43.96  

Index

    4.28       6.87       2.61       4.35                6.87       13.77       53.04  

Index performance through May 31, 2018 reflects the performance of the MSCI Emerging Markets Asia. Index performance beginning on June 1, 2018 reflects the performance of the MSCI EM Asia Custom Capped Index.

Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.

Expense Example

 

    Actual            Hypothetical 5% Return               
     

Beginning

Account Value

(09/01/23)

 

 

 

            

Ending

Account Value

(02/29/24)

 

 

 

             

Expenses

Paid During

the Period

 

 

(a) 

            

Beginning

Account Value

(09/01/23)

 

 

 

            

Ending

Account Value

(02/29/24)

 

 

 

            

Expenses

Paid During

the Period

 

 

(a) 

            

 Annualized
Expense
Ratio
 
 
 
    $   1,000.00               $ 1,035.90                $    2.48                $   1,000.00               $   1,022.40               $    2.46                0.49

 

  (a) 

Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information.

 

Portfolio Information

 

SECTOR ALLOCATION

 

   
Sector  

Percent of  

Total Investments(a)

 

Information Technology

    28.7%  

Financials

    18.1    

Consumer Discretionary

    14.9    

Communication Services

    8.9    

Industrials

    7.2    

Materials

    5.2    

Consumer Staples

    4.8    

Energy

    4.4    

Health Care

    4.1    

Utilities

    2.4    

Real Estate

    1.3    

GEOGRAPHIC ALLOCATION

 

   
Country/Geographic Region  

Percent of  

Total Investments(a)

 

China

    32.4%  

India

    22.9    

Taiwan

    21.5    

South Korea

    16.0    

Indonesia

    2.5    

Thailand

    2.0    

Malaysia

    1.8    

Philippines

    0.9    

 

  (a) 

Excludes money market funds.

 

 

 

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Fund Summary as of February 29, 2024    iShares® MSCI Emerging Markets Small-Cap ETF

 

Investment Objective

The iShares MSCI Emerging Markets Small-Cap ETF(the “Fund”) seeks to track the investment results of an index composed of small-capitalization emerging market equities, as represented by the MSCI Emerging Markets Small Cap Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Performance

 

          Average Annual Total Returns            Cumulative Total Returns  
    

6-Month

Total Returns

    1 Year     5 Years     10 Years             1 Year     5 Years     10 Years  

Fund NAV

    6.80     19.99     8.05     4.77        19.99     47.25     59.34

Fund Market

    6.44       20.13       8.07       4.80          20.13       47.42       59.74  

Index

    7.75       21.59       8.70       5.30                21.59       51.77       67.59  

Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.

Expense Example

 

    Actual            Hypothetical 5% Return               
     

Beginning

Account Value

(09/01/23)

 

 

 

            

Ending

Account Value

(02/29/24)

 

 

 

             

Expenses

Paid During

the Period

 

 

(a) 

            

Beginning

Account Value

(09/01/23)

 

 

 

            

Ending

Account Value

(02/29/24)

 

 

 

            

Expenses

Paid During

the Period

 

 

(a) 

            

 Annualized
Expense
Ratio
 
 
 
    $   1,000.00               $ 1,068.00                $    3.75                $   1,000.00               $   1,021.20               $    3.67                0.73

 

  (a) 

Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information.

 

Portfolio Information

 

SECTOR ALLOCATION

 

   
Sector   

Percent of  

Total Investments(a)

 

Information Technology

     17.7%  

Industrials

     17.3    

Materials

     12.1    

Consumer Discretionary

     11.7    

Financials

     10.8    

Health Care

     9.3    

Consumer Staples

     6.2    

Real Estate

     6.0    

Communication Services

     3.8    

Utilities

     3.2    

Energy

     1.9    

GEOGRAPHIC ALLOCATION

 

   
Country/Geographic Region  

Percent of  

Total Investments(a)

 

India

    26.1%  

Taiwan

    22.1    

South Korea

    13.2    

China

    8.2    

Brazil

    4.7    

Saudi Arabia

    4.2    

Thailand

    3.1    

South Africa

    3.0    

Turkey

    2.6    

Malaysia

    2.3    

Mexico

    2.0    

Indonesia

    1.8    

Poland

    1.3    

Kuwait

    1.1    

United Arab Emirates

    1.0    

Other (each representing less than 1%)

    3.3    

 

  (a) 

Excludes money market funds.

 

 

 

F U N D  S U M M A R Y

  7


About Fund Performance

 

Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.

Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined using the midpoint between the highest bid and the lowest ask on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.

An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, index returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, index returns would be lower.

Disclosure of Expenses

Shareholders of each Fund may incur the following charges: (1) transactional expenses, including brokerage commissions on purchases and sales of fund shares and (2) ongoing expenses, including management fees and other fund expenses. The expense examples shown (which are based on a hypothetical investment of $1,000 invested at the beginning of the period and held through the end of the period) are intended to assist shareholders both in calculating expenses based on an investment in each Fund and in comparing these expenses with similar costs of investing in other funds.

The expense examples provide information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. In order to estimate the expenses a shareholder paid during the period covered by this report, shareholders can divide their account value by $1,000 and then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”

The expense examples also provide information about hypothetical account values and hypothetical expenses based on a fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. In order to assist shareholders in comparing the ongoing expenses of investing in the Funds and other funds, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

The expenses shown in the expense examples are intended to highlight shareholders’ ongoing costs only and do not reflect any transactional expenses, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing expenses only and will not help shareholders determine the relative total expenses of owning different funds. If these transactional expenses were included, shareholder expenses would have been higher.

 

 

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Schedule of Investments (unaudited)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

 

Brazil — 3.9%  

3R Petroleum Oleo E Gas SA(a)

    2,245,952     $ 12,627,861  

AES Brasil Energia SA(a)

    3,901,302       8,193,276  

Allos SA, NVS

    4,441,520       22,059,731  

Alupar Investimento SA

    1,631,840       9,775,743  

Ambev SA

    41,494,373        105,006,782  

Arezzo Industria e Comercio SA

    649,147       7,734,501  

Armac Locacao Logistica E Servicos SA

    345,145       880,376  

Atacadao SA

    4,888,740       11,889,696  

Auren Energia SA

    2,681,671       6,921,172  

B3 SA - Brasil Bolsa Balcao

    50,829,185       131,185,943  

Banco Bradesco SA

    13,941,162       34,494,638  

Banco BTG Pactual SA

    10,879,318       79,639,996  

Banco do Brasil SA

    7,643,711       88,967,254  

Banco Santander Brasil SA

    2,968,469       17,078,356  

BB Seguridade Participacoes SA

    6,175,178       41,415,468  

BRF SA(a)

    5,585,299       16,965,665  

Caixa Seguridade Participacoes S/A

    2,974,714       8,599,030  

Camil Alimentos SA

    1,713,660       2,947,395  

CCR SA

    9,687,480       26,853,911  

Centrais Eletricas Brasileiras SA

    10,785,366       94,378,190  

Cia de Saneamento de Minas Gerais Copasa MG

    2,716,971       11,297,256  

Cia. Brasileira de Aluminio

    2,521,056       2,028,570  

Cia. de Saneamento Basico do Estado de Sao Paulo

    3,035,793       48,342,092  

Cia. de Saneamento do Parana

    1,685,968       8,760,345  

Cia. Siderurgica Nacional SA

    6,000,250       20,302,188  

Cielo SA

    10,360,644       11,150,338  

Cogna Educacao SA(a)

    17,839,834       9,043,548  

Cosan SA

    10,996,850       37,606,656  

CPFL Energia SA

    1,485,297       10,574,050  

Cury Construtora e Incorporadora SA

    1,231,020       4,774,409  

Cyrela Brazil Realty SA Empreendimentos e Participacoes

    2,716,792       13,143,740  

Dexco SA

    4,631,646       7,584,156  

Direcional Engenharia SA

    1,323,276       6,300,807  

EcoRodovias Infraestrutura e Logistica SA

    3,239,247       5,981,832  

Embraer SA(a)

    6,525,648       32,069,679  

Enauta Participacoes SA

    1,581,399       8,105,660  

Energisa SA

    1,653,837       16,913,977  

Eneva SA(a)

    7,651,984       19,749,141  

Engie Brasil Energia SA

    1,436,963       12,146,444  

Equatorial Energia SA

    9,335,821       64,190,695  

Ez Tec Empreendimentos e Participacoes SA

    1,441,135       4,893,557  

Fleury SA

    3,433,387       10,988,551  

GPS Participacoes e Empreendimentos SA(b)

    2,932,154       10,564,036  

Grendene SA

    4,626,834       6,003,315  

Grupo De Moda Soma SA

    4,826,635       6,796,573  

Grupo Mateus SA(a)

    5,770,204       9,367,252  

Grupo SBF SA

    1,284,683       3,181,277  

Hapvida Participacoes e Investimentos
SA(a)(b)

    45,006,882       33,227,104  

Hidrovias do Brasil SA(a)

    6,139,505       4,742,552  

Hypera SA

    3,438,533       22,743,249  

Iguatemi SA

    1,997,053       9,448,751  

Intelbras SA Industria de Telecomunicacao Eletronica Brasileira

    1,085,250       4,628,211  

Iochpe Maxion SA

    1,704,595       4,306,836  

Irani Papel e Embalagem SA

    227,563       416,572  

IRB-Brasil Resseguros SA(a)

    653,353       5,102,123  

JBS SA

    6,645,036       30,825,075  
Security   Shares     Value  
Brazil (continued)            

JHSF Participacoes SA

    4,260,147     $ 3,822,143  

Klabin SA

    6,763,146       30,706,324  

Localiza Rent a Car SA

    8,272,450       88,197,753  

Localiza Rent a Car SA, NVS(a)

    29,864       303,981  

LOG Commercial Properties e
Participacoes SA

    749,606       3,296,330  

Lojas Renner SA

    8,705,284       27,668,622  

LWSA SA(b)

    4,036,763       4,523,098  

M. Dias Branco SA

    879,799       7,295,229  

Magazine Luiza SA(a)

    27,279,683       11,688,706  

Magazine Luiza SA, NVS

    2,613,125       1,119,663  

Marfrig Global Foods SA(a)

    4,737,490       9,434,763  

Minerva SA

    2,948,877       4,039,720  

Movida Participacoes SA

    1,824,064       3,129,944  

MRV Engenharia e Participacoes SA(a)

    3,601,928       5,521,251  

Multiplan Empreendimentos Imobiliarios SA

    2,386,374       12,678,107  

Natura & Co. Holding SA(a)

    8,212,063       26,943,483  

Odontoprev SA

    3,425,202       8,302,727  

Oncoclinicas do Brasil Servicos
Medicos SA(a)

    2,279,522       4,723,115  

Pet Center Comercio e Participacoes SA

    4,290,613       3,599,174  

Petroleo Brasileiro SA

    34,085,957        282,638,279  

Petroreconcavo SA

    1,465,938       6,782,518  

PRIO SA

    7,230,754       63,578,737  

Raia Drogasil SA

    11,461,473       61,421,746  

Rede D’Or Sao Luiz SA(b)

    5,238,851       26,683,774  

Rumo SA

    11,731,183       53,616,398  

Santos Brasil Participacoes SA

    5,475,869       11,621,254  

Sao Martinho SA

    1,487,070       8,465,748  

Sendas Distribuidora SA

    12,013,408       34,316,428  

Serena Energia SA, NVS

    3,475,942       6,544,792  

SIMPAR SA

    4,393,460       6,796,425  

SLC Agricola SA

    2,168,394       8,575,693  

Smartfit Escola de Ginastica e Danca SA

    2,501,904       12,310,469  

Suzano SA

    7,087,930       80,345,367  

Telefonica Brasil SA

    3,539,979       38,795,851  

TIM SA/Brazil

    7,553,134       27,607,661  

TOTVS SA

    4,841,895       29,892,329  

Transmissora Alianca de Energia Eletrica SA

    1,436,023       10,226,150  

Ultrapar Participacoes SA

    6,672,503       39,408,720  

Vale SA

    30,576,233       412,041,972  

Vamos Locacao de Caminhoes Maquinas e Equipamentos SA

    3,984,157       6,996,780  

Vibra Energia SA

    10,491,801       54,579,062  

Vivara Participacoes SA

    1,458,344       9,593,017  

WEG SA

    14,999,346       110,705,076  

YDUQS Participacoes SA

    2,463,015       10,087,704  
   

 

 

 
      2,915,541,684  
Chile — 0.4%            

Aguas Andinas SA, Class A

    32,445,518       9,538,255  

Banco de Chile

    409,209,935       47,450,555  

Banco de Credito e Inversiones SA

    639,146       17,730,900  

Banco Itau Chile SA, NVS

    802,252       7,889,152  

Banco Santander Chile

    593,344,109       28,854,632  

CAP SA

    768,281       5,270,575  

Cencosud SA

    12,777,553       22,947,906  

Cia. Cervecerias Unidas SA

    1,172,804       6,804,708  

Cia. Sud Americana de Vapores SA

    142,654,159       9,960,068  

Colbun SA

    76,284,120       10,482,493  

Empresa Nacional de Telecomunicaciones SA

    1,753,855       5,711,657  

Empresas CMPC SA

    10,239,494       18,177,683  

Empresas Copec SA

    3,402,440       21,836,250  

Enel Americas SA

    198,888,675       20,278,797  

 

 

S C H E D U L EO F  I N V E S T M E N T S

  9


Schedule of Investments (unaudited) (continued)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Chile (continued)            

Enel Chile SA

    242,413,405     $ 14,561,466  

Engie Energia Chile SA(a)

    6,786,095       5,795,218  

Falabella SA(a)

    6,992,440       17,734,926  

Inversiones Aguas Metropolitanas SA

    5,617,449       4,215,732  

Latam Airlines Group SA(a)

    1,574,011,666       19,796,122  

Parque Arauco SA

    6,243,117       9,958,640  

SMU SA

    31,811,600       5,368,780  

Vina Concha y Toro SA

    5,690,528       5,905,765  
   

 

 

 
       316,270,280  
China — 22.7%            

360 Security Technology Inc., Class A(a)

    4,006,588       4,871,085  

361 Degrees International Ltd.

    9,851,000       5,259,897  

37 Interactive Entertainment Network Technology Group Co. Ltd., Class A

    1,433,837       3,861,989  

3SBio Inc.(b)(c)

    14,806,500       9,769,105  

AAC Technologies Holdings Inc.

    6,321,000       15,714,955  

Accelink Technologies Co. Ltd., Class A

    400,700       1,664,577  

ACM Research Shanghai Inc.

    86,800       1,181,719  

Advanced Micro-Fabrication Equipment Inc., Class A

    388,217       7,919,385  

AECC Aviation Power Co. Ltd., Class A

    1,370,877       6,544,607  

Agile Group Holdings Ltd.(a)(c)

    14,094,500       1,363,621  

Agricultural Bank of China Ltd., Class A

    41,029,235       23,833,440  

Agricultural Bank of China Ltd., Class H

    253,997,000       104,201,122  

Aier Eye Hospital Group Co. Ltd., Class A

    4,828,146       9,789,132  

AIM Vaccine Co. Ltd., NVS(c)

    802,600       721,669  

AIMA Technology Group Co. Ltd.

    565,300       2,583,428  

Air China Ltd., Class A(a)

    4,698,400       4,865,974  

Air China Ltd., Class H(a)

    17,592,000       9,420,268  

AK Medical Holdings Ltd.(b)(c)

    5,800,000       3,763,203  

Akeso Inc.(a)(b)(c)

    4,666,000       27,979,312  

Alibaba Group Holding Ltd.

    146,619,904       1,347,976,094  

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

    49,096,000       21,452,648  

Alibaba Pictures Group Ltd.(a)

    121,850,000       6,989,501  

A-Living Smart City Services Co. Ltd., Class A(b)

    6,912,500       3,539,512  

Alphamab Oncology(a)(b)(c)

    5,219,000       3,337,750  

Aluminum Corp. of China Ltd., Class A

    6,064,900       5,071,929  

Aluminum Corp. of China Ltd., Class H

    37,188,000       18,530,510  

Amlogic Shanghai Co. Ltd.

    287,186       2,227,079  

ANE Cayman Inc.(a)

    3,544,500       1,859,609  

Angelalign Technology Inc.(b)(c)

    359,800       3,017,967  

Anhui Conch Cement Co. Ltd., Class A

    1,680,029       5,576,737  

Anhui Conch Cement Co. Ltd., Class H

    11,056,500       24,058,765  

Anhui Gujing Distillery Co. Ltd., Class A

    250,255       7,585,083  

Anhui Gujing Distillery Co. Ltd., Class B

    981,600       13,878,246  

Anhui Jianghuai Automobile Group Corp. Ltd.(a)

    1,142,500       2,446,379  

Anhui Kouzi Distillery Co. Ltd., Class A

    406,548       2,400,020  

Anhui Yingjia Distillery Co. Ltd., Class A

    493,700       4,365,507  

Anjoy Foods Group Co. Ltd., Class A

    233,000       2,816,895  

Anker Innovations Technology Co. Ltd.

    246,776       2,803,311  

ANTA Sports Products Ltd.

    11,460,000       111,724,098  

Ascentage Pharma Group
International(a)(b)(c)

    2,455,400       8,119,714  

Asia - Potash International Investment Guangzhou Co. Ltd.(a)

    966,500       3,022,558  

Asia Cement China Holdings Corp.

    5,899,500       1,591,712  

Asymchem Laboratories Tianjin Co. Ltd., Class A

    218,540       3,067,174  

Autobio Diagnostics Co. Ltd., Class A

    400,600       3,687,970  

Autohome Inc., ADR

    639,411       16,618,292  

Avary Holding Shenzhen Co. Ltd., Class A

    985,900       2,880,443  
Security   Shares     Value  
China (continued)            

AVIC Industry-Finance Holdings Co. Ltd., Class A

    6,014,291     $ 2,766,543  

AviChina Industry & Technology Co. Ltd., Class H

    23,967,000       9,833,890  

BAIC BluePark New Energy Technology Co. Ltd.

    2,631,700       2,166,138  

Baidu Inc.(a)

    20,268,862        256,469,953  

Bairong Inc. (a)(b)

    2,037,500       3,432,693  

Bank of Beijing Co. Ltd., Class A

    10,531,106       7,569,930  

Bank of Chengdu Co. Ltd., Class A

    2,548,508       4,672,413  

Bank of China Ltd., Class A

    17,145,100       10,623,926  

Bank of China Ltd., Class H

    714,947,000       280,474,635  

Bank of Communications Co. Ltd., Class A

    19,723,880       17,139,848  

Bank of Communications Co. Ltd., Class H

    78,691,000       51,554,068  

Bank of Hangzhou Co. Ltd., Class A

    3,730,897       5,732,614  

Bank of Jiangsu Co. Ltd., Class A

    7,542,908       8,019,726  

Bank of Nanjing Co. Ltd., Class A

    6,359,381       7,715,551  

Bank of Ningbo Co. Ltd., Class A

    3,560,493       10,974,587  

Bank of Shanghai Co. Ltd., Class A

    10,949,165       9,919,867  

Baoshan Iron & Steel Co. Ltd., Class A

    11,172,330       10,323,679  

BeiGene Ltd.(a)

    6,238,164       80,314,774  

Beijing Capital International Airport Co. Ltd., Class H(a)

    17,810,000       5,743,321  

Beijing Dabeinong Technology Group Co. Ltd., Class A

    3,872,200       2,826,345  

Beijing Enlight Media Co. Ltd., Class A

    2,135,394       2,681,346  

Beijing Enterprises Holdings Ltd.

    4,070,500       15,312,480  

Beijing Enterprises Water Group Ltd.

    38,832,000       9,109,255  

Beijing Kingsoft Office Software Inc., Class A

    254,651       9,579,490  

Beijing New Building Materials PLC, Class A

    1,220,819       4,753,173  

Beijing Oriental Yuhong Waterproof Technology Co. Ltd., Class A

    443,500       1,060,339  

Beijing Roborock Technology Co. Ltd., Class A

    135,200       6,114,762  

Beijing Tiantan Biological Products Corp. Ltd., Class A

    497,600       1,954,107  

Beijing Tong Ren Tang Chinese Medicine Co. Ltd.(c)

    3,713,000       4,419,366  

Beijing Tongrentang Co. Ltd., Class A

    893,600       5,519,254  

Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A

    515,858       5,292,336  

Beijing-Shanghai High Speed Railway Co. Ltd., Class A

    25,722,001       18,022,830  

Bethel Automotive Safety Systems Co. Ltd.

    369,300       3,223,619  

Bilibili Inc.(a)(c)

    1,783,177       17,291,905  

Bloomage Biotechnology Corp. Ltd.

    273,586       2,424,476  

BOC Aviation Ltd.(b)

    1,851,000       13,625,498  

BOC International China Co. Ltd., Class A

    713,300       1,078,928  

BOE Technology Group Co. Ltd., Class A

    15,521,900       8,586,774  

BOE Varitronix Ltd.(c)

    3,835,000       2,672,677  

Bosideng International Holdings Ltd.

    33,878,000       17,039,857  

Brilliance China Automotive Holdings Ltd.

    27,426,000       15,964,454  

BYD Co. Ltd., Class A

    912,486       24,101,156  

BYD Co. Ltd., Class H(c)

    9,467,500       233,185,154  

BYD Electronic International Co. Ltd.

    7,174,500       27,089,955  

By-health Co. Ltd., Class A

    1,474,600       3,454,481  

C&D International Investment Group Ltd.

    6,534,000       10,623,834  

Caitong Securities Co. Ltd., Class A

    5,200,150       5,754,177  

Cambricon Technologies Corp. Ltd.(a)

    251,358       5,882,914  

Canaan Inc., ADR(a)(c)

    1,780,093       2,794,746  

Canggang Railway Ltd., NVS(c)

    10,944,000       2,047,307  

Canmax Technologies Co. Ltd., Class A

    894,280       2,830,864  

CanSino Biologics Inc., Class H(a)(b)(c)

    524,000       1,215,914  

 

 

10  

2 0 2 4 I S H A R E S  S E M I - A N N U A L  R E P O R TT O  S H A R E H O L D E R S


Schedule of Investments (unaudited) (continued)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
China (continued)            

Canvest Environmental Protection Group Co. Ltd.(c)

    11,014,000     $ 5,781,664  

Cathay Biotech Inc.

    169,400       1,133,387  

CGN Mining Co. Ltd.(a)(c)

    24,990,000       6,080,979  

CGN New Energy Holdings Co. Ltd.(c)

    16,052,000       3,972,047  

CGN Power Co. Ltd., Class H(b)

    95,126,000       28,888,088  

Changchun High & New Technology Industry Group Inc., Class A

    239,542       4,276,851  

Changjiang Securities Co. Ltd., Class A

    5,977,228       4,560,259  

Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A

    222,669       4,339,734  

Chaozhou Three-Circle Group Co. Ltd., Class A

    1,516,453       5,336,098  

Chengxin Lithium Group Co. Ltd., Class A

    919,800       2,793,471  

China Aircraft Leasing Group Holdings
Ltd.(c)

    5,464,000       2,386,727  

China Animal Healthcare Ltd.(d)

    1,237,000       2  

China Aoyuan Group Ltd.(a)(c)

    10,526,000       225,860  

China Baoan Group Co. Ltd., Class A

    2,702,000       4,457,578  

China BlueChemical Ltd., Class H

    17,216,000       5,167,065  

China Cinda Asset Management Co. Ltd., Class H

    70,899,000       6,788,728  

China CITIC Bank Corp. Ltd., Class H

    79,878,000       42,470,182  

China Coal Energy Co. Ltd., Class H

    18,848,000       20,297,754  

China Communications Services Corp. Ltd., Class H

    22,254,000       9,453,031  

China Conch Venture Holdings Ltd.

    12,369,000       12,386,341  

China Construction Bank Corp., Class A

    4,018,822       3,899,779  

China Construction Bank Corp., Class H

    863,526,000        535,520,896  

China CSSC Holdings Ltd., Class A

    2,437,001       12,010,188  

China Datang Corp. Renewable Power Co. Ltd., Class H

    23,732,000       5,389,130  

China East Education Holdings Ltd.(b)

    5,978,500       1,999,649  

China Eastern Airlines Corp. Ltd.,
Class A(a)

    11,645,975       6,147,829  

China Education Group Holdings Ltd.

    9,842,000       5,638,711  

China Energy Engineering Corp. Ltd.

    40,785,244       12,323,840  

China Everbright Bank Co. Ltd., Class A

    22,758,082       10,159,221  

China Everbright Bank Co. Ltd., Class H

    25,385,000       7,936,620  

China Everbright Environment Group Ltd.(c)

    32,537,148       12,086,045  

China Everbright Ltd.

    9,742,000       5,340,648  

China Feihe Ltd.(b)

    30,879,000       15,358,929  

China Fiber Optic Network System Group Ltd.(d)

    10,394,800       13  

China Foods Ltd.

    11,650,000       4,196,053  

China Galaxy Securities Co. Ltd., Class A

    2,050,700       3,456,324  

China Galaxy Securities Co. Ltd., Class H

    37,297,500       19,597,396  

China Gas Holdings Ltd.

    25,093,200       22,964,847  

China Great Wall Securities Co. Ltd., Class A

    795,600       872,811  

China Greatwall Technology Group Co. Ltd., Class A

    2,210,300       3,181,543  

China High Speed Transmission Equipment Group Co. Ltd.(a)

    472,000       87,247  

China Hongqiao Group Ltd.(c)

    20,881,000       16,159,419  

China Huiyuan Juice Group Ltd.(d)

    10,877,000       14  

China International Capital Corp. Ltd., Class A

    1,517,200       7,356,484  

China International Capital Corp. Ltd., Class H(b)

    13,454,000       16,865,372  

China Jinmao Holdings Group Ltd.

    53,576,000       4,353,646  

China Jushi Co. Ltd., Class A

    2,927,762       4,064,292  

China Lesso Group Holdings Ltd.

    11,134,000       5,295,273  

China Life Insurance Co. Ltd., Class A

    1,425,621       5,983,607  

China Life Insurance Co. Ltd., Class H

    66,949,000       82,065,391  

China Lilang Ltd.(c)

    6,020,000       3,227,636  
Security   Shares     Value  
China (continued)            

China Literature Ltd.(a)(b)

    3,649,000     $ 11,186,730  

China Longyuan Power Group Corp. Ltd., Class H

    29,435,000       20,743,229  

China Medical System Holdings Ltd.

    12,705,000       20,885,441  

China Meidong Auto Holdings Ltd.(c)

    5,886,000       2,315,458  

China Mengniu Dairy Co. Ltd.

    28,566,000       71,424,756  

China Merchants Bank Co. Ltd., Class A

    10,929,782       48,400,734  

China Merchants Bank Co. Ltd., Class H

    35,293,464        136,480,477  

China Merchants Energy Shipping Co. Ltd., Class A

    5,375,200       5,370,426  

China Merchants Port Holdings Co. Ltd.

    12,724,270       15,794,020  

China Merchants Securities Co. Ltd., Class A

    3,521,981       6,890,901  

China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A

    4,090,466       5,337,144  

China Metal Recycling Holdings Ltd.(d)

    62,400        

China Minsheng Banking Corp. Ltd., Class A

    20,239,517       11,339,393  

China Minsheng Banking Corp. Ltd., Class H

    55,703,220       19,604,367  

China Modern Dairy Holdings Ltd.

    34,021,000       2,822,711  

China National Building Material Co. Ltd., Class H

    34,238,850       12,877,477  

China National Chemical Engineering Co. Ltd., Class A

    4,295,122       4,156,844  

China National Nuclear Power Co. Ltd., Class A

    9,052,709       10,897,897  

China National Software & Service Co. Ltd., Class A

    515,780       2,303,764  

China New Higher Education Group Ltd.(b)

    10,035,000       3,159,172  

China Nonferrous Mining Corp Ltd.

    19,023,000       13,214,640  

China Northern Rare Earth Group High-Tech Co. Ltd., Class A

    2,479,700       6,485,559  

China Oilfield Services Ltd., Class H

    15,722,000       13,835,236  

China Oriental Group Co. Ltd.(c)

    15,524,000       2,335,722  

China Overseas Grand Oceans Group Ltd.

    17,473,500       4,472,281  

China Overseas Land & Investment Ltd.

    34,146,500       50,428,159  

China Overseas Property Holdings Ltd.

    12,900,000       10,845,441  

China Pacific Insurance Group Co. Ltd., Class A

    3,468,142       12,280,834  

China Pacific Insurance Group Co. Ltd., Class H

    24,104,200       45,722,107  

China Petroleum & Chemical Corp., Class A

    16,352,100       14,150,198  

China Petroleum & Chemical Corp., Class H

    219,930,200       121,171,245  

China Power International Development Ltd.

    45,341,000       18,314,695  

China Railway Group Ltd., Class A

    11,678,866       10,273,602  

China Railway Group Ltd., Class H

    36,640,000       17,846,916  

China Rare Earth Resources & Technology Co. Ltd., Class A

    799,300       3,092,190  

China Renaissance Holdings Ltd.(a)(b)(c)(d)

    2,502,500       1,425,586  

China Renewable Energy Investment Ltd.(d)

    8,046        

China Resources Beer Holdings Co. Ltd.

    14,682,000       63,264,077  

China Resources Building Materials Technology Holdings Ltd.(c)

    22,082,000       3,830,363  

China Resources Gas Group Ltd.

    8,507,500       25,673,255  

China Resources Land Ltd.

    29,097,777       88,874,924  

China Resources Medical Holdings Co. Ltd.

    11,018,500       6,004,489  

China Resources Microelectronics Ltd.

    879,012       5,217,382  

China Resources Mixc Lifestyle Services Ltd.(b)

    6,267,800       18,890,011  

China Resources Pharmaceutical Group
Ltd.(b)

    14,593,500       9,870,129  

China Resources Power Holdings Co. Ltd.

    17,514,000       37,701,574  

China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A

    619,827       4,728,864  

China Risun Group Ltd.(c)

    12,024,000       4,703,159  

China Ruyi Holdings Ltd.(a)(c)

    52,979,200       10,399,311  

 

 

S C H E D U L EO F  I N V E S T M E N T S

  11


Schedule of Investments (unaudited) (continued)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
China (continued)            

China Shenhua Energy Co. Ltd., Class A

    3,319,129     $ 17,732,832  

China Shenhua Energy Co. Ltd., Class H

    30,629,000       117,850,905  

China Shineway Pharmaceutical Group Ltd.

    4,636,000       5,218,492  

China South City Holdings Ltd.(c)

    50,390,000       1,070,447  

China Southern Airlines Co. Ltd., Class A(a)

    6,636,584       5,441,733  

China State Construction Engineering Corp. Ltd., Class A

    21,231,919       15,734,837  

China State Construction International Holdings Ltd.

    19,186,000       21,379,195  

China Taiping Insurance Holdings Co. Ltd.

    12,953,508       11,254,280  

China Three Gorges Renewables Group Co. Ltd., Class A

    13,605,570       8,716,808  

China Tobacco International HK Co. Ltd.

    4,359,000       5,451,275  

China Tourism Group Duty Free Corp.
Ltd.(b)(c)

    721,900       7,069,064  

China Tourism Group Duty Free Corp. Ltd., Class A

    1,171,979       14,112,901  

China Tower Corp. Ltd., Class H(b)

    382,626,000       46,377,330  

China Traditional Chinese Medicine Holdings Co. Ltd.

    25,784,000       14,226,564  

China Travel International Investment Hong Kong Ltd.(c)

    34,862,000       5,964,223  

China United Network Communications Ltd., Class A

    17,467,525       11,622,853  

China Vanke Co. Ltd., Class A

    4,999,768       6,946,398  

China Vanke Co. Ltd., Class H

    18,708,287       14,423,763  

China Water Affairs Group Ltd.

    9,078,000       6,226,306  

China XLX Fertiliser Ltd.

    5,154,000       2,081,640  

China Yangtze Power Co. Ltd., Class A

    12,868,525       44,731,981  

China Zhenhua Group Science & Technology Co. Ltd., Class A

    336,600       2,676,718  

China Zheshang Bank Co. Ltd., Class A

    18,500,796       7,130,845  

China Zhongwang Holdings Ltd., NVS

    4,116,641       215,919  

Chinasoft International Ltd.(c)

    24,512,000       15,943,313  

Chongqing Brewery Co. Ltd., Class A

    319,900       2,898,374  

Chongqing Changan Automobile Co. Ltd., Class A

    4,681,664       9,657,343  

Chongqing Hongjiu Fruit Co. Ltd.(a)(c)

    3,250,200       1,429,487  

Chongqing Taiji Industry Group Co. Ltd.(a)

    241,500       1,271,441  

Chongqing Zhifei Biological Products Co. Ltd., Class A

    1,248,663       9,258,806  

Chow Tai Fook Jewellery Group Ltd.

    19,579,200       29,174,393  

CIMC Enric Holdings Ltd.

    8,180,000       6,577,780  

CITIC Ltd.

    52,573,000       52,886,947  

CITIC Securities Co. Ltd., Class A

    5,869,849       17,319,360  

CITIC Securities Co. Ltd., Class H

    17,229,400        31,847,732  

ClouDr Group Ltd., NVS

    1,234,500       841,973  

CMGE Technology Group Ltd.(a)

    22,120,000       2,737,910  

CMOC Group Ltd., Class A

    9,597,233       8,169,020  

CMOC Group Ltd., Class H

    34,398,000       21,220,365  

CNGR Advanced Material Co. Ltd.

    430,500       2,831,293  

CNPC Capital Co. Ltd., NVS

    3,964,000       3,403,411  

COFCO Joycome Foods Ltd.(a)(c)

    28,892,000       5,643,795  

Concord New Energy Group Ltd.

    83,070,000       6,885,935  

Contemporary Amperex Technology Co. Ltd., Class A

    2,357,151       53,312,736  

COSCO Shipping Energy Transportation Co. Ltd., Class A

    3,058,900       5,834,075  

COSCO Shipping Energy Transportation Co. Ltd., Class H

    8,500,000       8,042,040  

COSCO Shipping Holdings Co. Ltd., Class A

    5,340,546       7,781,379  

COSCO Shipping Holdings Co. Ltd., Class H

    29,771,100       32,049,795  
Security   Shares     Value  
China (continued)            

COSCO Shipping International Hong Kong Co. Ltd.

    12,230,000     $ 5,437,087  

COSCO Shipping Ports Ltd.

    15,740,000       9,391,992  

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

    107,784,733       8,758,888  

Country Garden Services Holdings Co. Ltd.(c)

    19,737,000       15,023,534  

CRRC Corp. Ltd., Class A

    11,309,000       10,007,625  

CRRC Corp. Ltd., Class H

    41,678,000       21,458,008  

CSC Financial Co. Ltd., Class A

    2,023,794       6,526,943  

CSG Holding Co. Ltd.

    3,734,481       1,149,511  

CSPC Innovation Pharmaceutical Co. Ltd.

    637,700       3,005,080  

CSPC Pharmaceutical Group Ltd.

    80,373,760       62,599,082  

CSSC Science & Technology Co. Ltd.

    840,100       2,044,079  

Dada Nexus Ltd., ADR(a)(c)

    763,798       1,603,976  

Daqin Railway Co. Ltd., Class A

    7,311,019       7,568,301  

Daqo New Energy Corp., ADR(a)(c)

    527,750       11,230,520  

DaShenLin Pharmaceutical Group Co. Ltd., Class A

    1,034,333       3,410,042  

Digital China Holdings Ltd.

    10,251,000       3,488,937  

Dong-E-E-Jiao Co. Ltd., Class A

    356,000       2,869,677  

Dongfang Electric Corp. Ltd., Class A

    1,767,524       4,008,170  

Dongfeng Motor Group Co. Ltd., Class H

    23,354,000       9,989,854  

Dongxing Securities Co. Ltd., Class A

    4,033,067       4,744,972  

Dongyue Group Ltd.

    13,488,000       12,073,084  

East Buy Holding Ltd.(a)(b)(c)

    4,028,500       12,417,768  

East Money Information Co. Ltd., Class A

    8,479,688       16,471,607  

Eastroc Beverage Group Co. Ltd.

    259,100       6,428,176  

Ecovacs Robotics Co. Ltd., Class A

    420,300       2,172,827  

Empyrean Technology Co. Ltd., NVS

    106,700       1,346,318  

ENN Energy Holdings Ltd.

    7,153,100        58,082,003  

ENN Natural Gas Co. Ltd., Class A

    1,966,228       5,106,047  

Eoptolink Technology Inc. Ltd.

    409,200       3,416,623  

Eve Energy Co. Ltd., Class A

    1,151,977       6,112,576  

Everbright Securities Co. Ltd., Class A

    2,416,686       5,662,329  

Everdisplay Optronics Shanghai Co. Ltd.(a)

    4,958,400       1,644,452  

Everest Medicines Ltd.(a)(b)(c)

    2,122,000       6,526,217  

Fangda Carbon New Material Co. Ltd., Class A(a)

    4,670,984       3,189,072  

Far East Horizon Ltd.(c)

    11,518,000       9,253,237  

Fenbi Ltd., NVS(c)

    4,719,500       2,965,699  

FinVolution Group, ADR

    1,315,787       6,881,566  

First Capital Securities Co. Ltd., Class A

    6,359,900       5,049,400  

Flat Glass Group Co. Ltd., Class A

    1,116,100       3,377,232  

Flat Glass Group Co. Ltd., Class H(c)

    3,677,000       6,797,928  

Focus Media Information Technology Co. Ltd., Class A

    8,326,699       7,259,722  

Foshan Haitian Flavouring & Food Co. Ltd., Class A

    2,519,774       14,161,625  

Fosun International Ltd.

    22,708,000       13,101,076  

Founder Securities Co. Ltd., Class A

    3,810,100       4,028,190  

Foxconn Industrial Internet Co. Ltd., Class A

    7,028,925       18,227,125  

Fu Shou Yuan International Group Ltd.

    11,430,000       7,465,508  

Fufeng Group Ltd.(c)

    16,348,400       10,022,877  

Fuyao Glass Industry Group Co. Ltd., Class A

    1,028,100       6,173,473  

Fuyao Glass Industry Group Co. Ltd., Class H(b)

    5,533,600       27,736,753  

GalaxyCore Inc., NVS

    1,074,600       2,943,076  

Ganfeng Lithium Group Co. Ltd., Class A

    854,157       4,736,600  

Ganfeng Lithium Group Co. Ltd., Class H(b)(c)

    3,570,600       11,828,746  

GCL Technology Holdings Ltd.

    183,682,000       25,549,968  

GD Power Development Co. Ltd., Class A

    13,011,800       8,450,159  

GDS Holdings Ltd.(a)(c)

    8,119,876       6,880,562  

Geely Automobile Holdings Ltd.

    54,678,000       59,504,525  

 

 

12  

2 0 2 4 I S H A R E S  S E M I - A N N U A L  R E P O R TT O  S H A R E H O L D E R S


Schedule of Investments (unaudited) (continued)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
China (continued)            

Gemdale Properties & Investment Corp. Ltd.(c)

    71,244,000     $ 2,404,124  

Genertec Universal Medical Group Co. Ltd.(b)

    12,919,500       7,084,133  

Genscript Biotech Corp.(a)(c)

    10,808,000       21,849,843  

GF Securities Co. Ltd., Class A

    1,720,830       3,380,743  

GF Securities Co. Ltd., Class H

    11,137,400       11,958,708  

Giant Biogene Holding Co. Ltd.(a)(b)

    1,568,800       7,173,260  

Giant Network Group Co. Ltd., Class A

    853,800       1,338,068  

GigaDevice Semiconductor Inc., Class A

    385,735       3,919,381  

Ginlong Technologies Co. Ltd., Class A

    240,550       2,171,297  

GoerTek Inc., Class A

    1,953,962       4,514,948  

Goldwind Science & Technology Co Ltd., Class A

    2,862,037       3,031,988  

Gongniu Group Co. Ltd.

    335,900       4,748,338  

GoodWe Technologies Co. Ltd., NVS

    99,188       1,490,828  

Gotion High-tech Co. Ltd., Class A(a)

    1,358,200       3,728,151  

Grand Pharmaceutical Group Ltd., Class A

    16,143,500       7,369,710  

Great Wall Motor Co. Ltd.

    1,074,400       3,483,448  

Great Wall Motor Co. Ltd., Class H(c)

    21,801,000       24,605,807  

Gree Electric Appliances Inc. of Zhuhai, Class A

    1,682,700       9,106,260  

Greentown China Holdings Ltd.(c)

    8,845,500       7,072,805  

Greentown Management Holdings Co. Ltd.(b)

    8,836,000       5,562,077  

Greentown Service Group Co. Ltd.

    13,368,000       4,803,025  

GRG Banking Equipment Co. Ltd., Class A

    766,500       1,225,605  

Guangdong Haid Group Co. Ltd., Class A

    1,065,920       6,368,255  

Guangdong Investment Ltd.

    26,860,000        15,939,200  

Guanghui Energy Co. Ltd., Class A

    4,446,180       4,619,980  

Guangzhou Automobile Group Co. Ltd., Class A

    2,200,699       2,716,239  

Guangzhou Automobile Group Co. Ltd., Class H

    25,569,200       11,063,745  

Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A

    1,087,388       4,465,447  

Guangzhou Haige Communications Group Inc. Co., Class A

    597,500       957,615  

Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A

    345,100       2,877,522  

Guangzhou R&F Properties Co. Ltd., Class H(a)(c)

    15,128,400       1,961,098  

Guangzhou Shiyuan Electronic Technology Co. Ltd., Class A

    420,583       2,286,049  

Guangzhou Tinci Materials Technology Co. Ltd., Class A

    1,230,396       3,522,382  

Guangzhou Yuexiu Financial Holdings Group Co. Ltd., Class A

    1,017,800       868,744  

Guolian Securities Co. Ltd., Class A(a)

    2,660,700       4,043,123  

Guosen Securities Co. Ltd., Class A

    5,877,867       7,023,347  

Guotai Junan Securities Co. Ltd., Class A

    2,800,591       5,858,759  

Guoyuan Securities Co. Ltd., Class A

    3,627,471       3,507,187  

Gushengtang Holdings Ltd.

    1,564,000       8,585,613  

H World Group Ltd., ADR

    1,872,336       68,452,604  

Haichang Ocean Park Holdings Ltd.(a)(b)(c)

    32,005,000       3,069,492  

Haidilao International Holding Ltd.(b)

    15,254,000       27,740,481  

Haier Smart Home Co. Ltd., Class A

    3,262,537       10,867,221  

Haier Smart Home Co. Ltd., Class H

    22,229,400       67,324,867  

Hainan Airlines Holding Co. Ltd., Class A(a)

    27,455,441       5,449,865  

Hainan Airport Infrastructure Co. Ltd., NVS(a)

    7,024,003       3,651,156  

Hainan Meilan International Airport Co. Ltd., Class H(a)

    2,024,000       1,906,439  

Haitian International Holdings Ltd.

    5,956,000       15,080,994  

Haitong Securities Co. Ltd., Class A

    4,123,131       5,223,083  

Haitong Securities Co. Ltd., Class H

    22,780,000       11,307,812  
Security   Shares     Value  
China (continued)            

Hang Zhou Great Star Industrial Co. Ltd., Class A

    431,400     $ 1,299,389  

Hangzhou Binjiang Real Estate Group Co. Ltd.

    2,251,594        2,356,192  

Hangzhou Chang Chuan Technology Co. Ltd.

    452,126       1,814,148  

Hangzhou First Applied Material Co. Ltd., Class A

    1,122,808       4,328,605  

Hangzhou Oxygen Plant Group Co. Ltd., Class A

    780,900       3,031,943  

Hangzhou Robam Appliances Co. Ltd., Class A

    810,309       2,804,420  

Hangzhou Silan Microelectronics Co. Ltd., Class A

    903,900       2,617,946  

Hangzhou Steam Turbine Power Group Co. Ltd., Class B

    6,736,634       6,036,925  

Hangzhou Tigermed Consulting Co. Ltd., Class A

    255,574       1,595,527  

Hansoh Pharmaceutical Group Co. Ltd.(b)

    10,204,000       17,985,210  

Harbin Electric Co. Ltd., Class H

    8,374,000       2,551,464  

Helens International Holdings Co. Ltd. (c)

    4,646,000       1,973,377  

Hello Group Inc., ADR

    1,352,936       8,915,848  

Henan Shenhuo Coal & Power Co. Ltd.

    1,906,300       4,865,579  

Henan Shuanghui Investment & Development Co. Ltd., Class A

    2,600,932       10,528,927  

Hengan International Group Co. Ltd.

    5,660,000       17,445,259  

Hengdian Group DMEGC Magnetics Co. Ltd.

    1,385,255       2,758,438  

Hengli Petrochemical Co. Ltd., Class A(a)

    3,872,630       6,841,266  

Hengtong Optic-Electric Co. Ltd., Class A

    1,327,400       2,251,602  

Hengyi Petrochemical Co. Ltd., Class A(a)

    3,310,561       3,173,069  

Hisense Visual Technology Co. Ltd.

    907,705       3,255,094  

Hithink RoyalFlush Information Network Co. Ltd., Class A

    310,602       5,893,620  

HLA Group Corp. Ltd., Class A

    1,013,600       1,211,796  

Hongfa Technology Co. Ltd., Class A

    572,568       1,974,362  

Hopson Development Holdings Ltd.(a)(c)

    10,799,671       5,161,015  

Hoshine Silicon Industry Co. Ltd., Class A

    469,523       3,448,583  

Hua Han Health Industry Holdings Ltd.(d)

    19,424,288       25  

Hua Hong Semiconductor Ltd.(a)(b)(c)

    5,197,000       11,138,372  

Huabao International Holdings Ltd.(c)

    9,052,000       2,695,281  

Huadian Power International Corp. Ltd., Class A

    5,504,800       4,728,396  

Huadong Medicine Co. Ltd., Class A

    1,021,051       4,754,528  

Huafon Chemical Co. Ltd., Class A

    6,389,655       6,044,327  

Huagong Tech Co. Ltd., Class A

    526,900       2,321,033  

Huaibei Mining Holdings Co. Ltd.

    1,551,300       4,067,683  

Hualan Biological Engineering Inc., Class A

    1,439,420       3,933,510  

Huaneng Power International Inc., Class A(a)

    5,447,426       6,665,003  

Huaneng Power International Inc., Class H(a)

    37,538,000       21,053,623  

Huatai Securities Co. Ltd., Class A

    3,264,251       6,573,395  

Huatai Securities Co. Ltd., Class H(b)

    13,501,200       15,935,732  

Huaxia Bank Co. Ltd., Class A

    9,837,330       8,649,723  

Huayu Automotive Systems Co. Ltd., Class A

    2,365,860       5,724,214  

Hubei Jumpcan Pharmaceutical Co. Ltd., Class A

    230,800       1,185,431  

Huizhou Desay Sv Automotive Co. Ltd., Class A

    343,400       4,871,083  

Humanwell Healthcare Group Co. Ltd., Class A

    1,195,600       3,646,799  

Hunan Valin Steel Co. Ltd., Class A

    6,633,000       5,225,447  

Hundsun Technologies Inc., Class A

    1,092,749       3,695,221  

HUTCHMED China Ltd.(a)

    4,791,080       14,804,316  

HUYA Inc., ADR(a)(c)

    867,012       3,034,542  

Hwatsing Technology Co. Ltd., NVS

    156,800       4,390,699  

Hygeia Healthcare Holdings Co. Ltd.(b)(c)

    3,322,600       12,472,507  

Hygon Information Technology Co. Ltd., NVS

    1,014,853       11,979,167  

 

 

S C H E D U L EO F  I N V E S T M E N T S

  13


Schedule of Investments (unaudited) (continued)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
China (continued)            

iDreamSky Technology Holdings Ltd.(a)(b)(c)

    8,220,000     $ 2,127,623  

IEIT Systems Co. Ltd., Class A

    871,372       4,521,065  

Iflytek Co. Ltd., Class A

    1,261,996       8,659,520  

Imeik Technology Development Co. Ltd., Class A

    134,780       6,119,412  

Industrial & Commercial Bank of China Ltd., Class A

    31,670,880       23,404,562  

Industrial & Commercial Bank of China Ltd., Class H

    585,268,000        300,015,800  

Industrial Bank Co. Ltd., Class A

    10,290,490       23,738,914  

Industrial Securities Co. Ltd., Class A

    6,275,451       5,054,540  

INESA Intelligent Tech Inc., Class B

    2,977,852       1,705,252  

Ingenic Semiconductor Co. Ltd., Class A

    301,303       2,728,182  

Inner Mongolia BaoTou Steel Union Co. Ltd., Class A(a)

    40,078,700       8,563,129  

Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd., Class A

    12,688,400       6,841,575  

Inner Mongolia Yili Industrial Group Co. Ltd., Class A

    3,461,862       13,591,370  

Inner Mongolia Yitai Coal Co. Ltd., Class B

    9,681,095       19,445,883  

InnoCare Pharma Ltd.(a)(b)(c)

    3,329,000       2,190,914  

Innovent Biologics Inc.(a)(b)

    10,817,000       58,332,836  

iQIYI Inc., ADR(a)(c)

    4,024,816       14,851,571  

iRay Technology Co. Ltd.

    56,200       1,930,705  

Isoftstone Information Technology Group Co. Ltd., NVS(a)

    503,400       3,182,535  

JA Solar Technology Co. Ltd., Class A

    1,782,080       4,629,029  

Jason Furniture Hangzhou Co. Ltd., Class A

    754,657       3,918,417  

JCET Group Co. Ltd., Class A

    1,148,600       4,169,023  

JD Health International Inc.(a)(b)(c)

    10,115,500       38,151,352  

JD Logistics Inc.(a)(b)

    17,785,700       17,561,613  

JD.com Inc.

    21,150,054       238,696,981  

Jiangsu Eastern Shenghong Co. Ltd., Class A

    3,967,900       5,775,733  

Jiangsu Expressway Co. Ltd., Class H

    10,732,000       11,023,770  

Jiangsu Hengli Hydraulic Co. Ltd., Class A

    888,596       6,996,146  

Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A

    3,283,055       19,375,246  

Jiangsu King’s Luck Brewery JSC Ltd., Class A

    865,256       6,425,089  

Jiangsu Pacific Quartz Co. Ltd., NVS

    246,282       2,725,755  

Jiangsu Phoenix Publishing & Media Corp. Ltd.

    1,031,600       1,488,586  

Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A

    740,151       10,327,965  

Jiangsu Yangnong Chemical Co. Ltd., Class A

    373,260       2,829,705  

Jiangsu Yoke Technology Co. Ltd., Class A

    208,700       1,457,956  

Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A

    793,600       3,936,493  

Jiangsu Zhongtian Technology Co. Ltd., Class A

    1,788,000       3,242,356  

Jiangxi Copper Co. Ltd., Class H

    12,438,000       18,459,403  

Jiangxi Special Electric Motor Co. Ltd., NVS(a)

    1,115,800       1,616,224  

Jinchuan Group International Resources Co. Ltd.

    36,943,000       3,103,585  

Jinduicheng Molybdenum Co. Ltd., Class A

    1,151,300       1,609,509  

Jinke Smart Services Group Co. Ltd.(a)

    1,416,000       1,672,648  

Jinko Solar Co. Ltd.

    3,561,499       4,367,334  

JinkoSolar Holding Co. Ltd., ADR

    377,058       10,195,648  

Jinxin Fertility Group Ltd.(a)(b)(c)

    15,310,000       4,744,364  

JiuGui Liquor Co. Ltd., Class A

    279,400       2,356,321  

Jiumaojiu International Holdings Ltd.(b)

    7,900,000       5,483,297  

Jizhong Energy Resources Co. Ltd.

    3,732,800       4,209,980  

JNBY Design Ltd.

    2,882,000       5,507,617  
Security   Shares     Value  
China (continued)            

Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd., Class A(a)

    852,742     $ 2,988,694  

JOYY Inc., ADR

    353,797       11,144,606  

Kangji Medical Holdings Ltd.

    4,889,000       3,979,850  

Kanzhun Ltd., ADR

    2,019,929       31,611,889  

KE Holdings Inc., ADR

    5,920,439       80,458,766  

Keda Industrial Group Co. Ltd.

    1,801,800       2,999,650  

Keymed Biosciences Inc.(a)(b)(c)

    1,688,500       7,313,231  

Kingboard Holdings Ltd.

    6,200,700       12,162,475  

Kingboard Laminates Holdings Ltd.(c)

    9,051,000       5,605,360  

Kingdee International Software Group Co.
Ltd.(a)

    25,081,000       26,969,275  

Kingnet Network Co. Ltd.

    1,169,900       2,029,273  

Kingsoft Cloud Holdings Ltd., ADR(a)(c)

    1,063,584       3,052,486  

Kingsoft Corp. Ltd.

    8,741,200       24,288,629  

Kuaishou Technology(a)(b)

    21,108,000        119,194,985  

Kuang-Chi Technologies Co. Ltd., Class A(a)

    1,558,050       3,206,239  

Kunlun Energy Co. Ltd.

    36,060,000       30,741,630  

Kunlun Tech Co. Ltd., Class A(a)

    755,200       4,235,862  

Kweichow Moutai Co. Ltd., Class A

    669,520       157,062,025  

LB Group Co. Ltd., Class A

    2,083,807       5,422,057  

Lee & Man Paper Manufacturing Ltd.(c)

    14,794,000       4,218,228  

Legend Biotech Corp., ADR(a)(c)

    655,757       42,729,126  

Lenovo Group Ltd.

    69,724,000       77,026,145  

Lens Technology Co. Ltd., Class A

    3,376,715       5,665,754  

Lepu Medical Technology Beijing Co. Ltd., Class A

    1,313,582       2,750,604  

LexinFintech Holdings Ltd., ADR

    308,468       567,581  

Li Auto Inc.(a)

    10,406,404       237,494,535  

Li Ning Co. Ltd.

    21,440,500       53,046,149  

Lifetech Scientific Corp. (a)(c)

    35,722,000       9,058,866  

Lingyi iTech Guangdong Co., Class A

    6,240,733       4,750,438  

LK Technology Holdings Ltd.

    5,657,500       2,474,401  

Longfor Group Holdings Ltd.(b)(c)

    17,365,000       21,749,736  

LONGi Green Energy Technology Co. Ltd., Class A

    3,674,449       10,816,947  

Lonking Holdings Ltd.

    23,752,000       3,990,873  

Lufax Holding Ltd., Class A, ADR(c)

    1,479,512       4,616,077  

Luxshare Precision Industry Co. Ltd., Class A

    3,786,289       14,488,579  

Luye Pharma Group Ltd. (a)(b)(c)

    19,949,000       7,368,199  

Luzhou Laojiao Co. Ltd., Class A

    784,308       19,018,193  

Mango Excellent Media Co. Ltd., Class A

    1,161,632       3,988,676  

Maoyan Entertainment(a)(b)

    5,422,000       5,978,609  

Maxscend Microelectronics Co. Ltd., Class A

    316,812       4,723,998  

Medlive Technology Co. Ltd.(b)(c)

    793,500       754,967  

Meinian Onehealth Healthcare Holdings Co. Ltd., Class A(a)

    4,093,552       3,158,664  

Meitu Inc.(b)(c)

    22,379,000       7,364,850  

Meituan, Class B(a)(b)

    45,768,460       464,649,017  

Metallurgical Corp. of China Ltd., Class A

    12,805,800       5,909,870  

MH Development Ltd.(d)

    3,308,000       15,405  

Microport Scientific Corp.(a)(c)

    6,759,300       6,614,899  

Midea Group Co. Ltd., Class A

    1,546,700       13,442,193  

Midea Real Estate Holding Ltd.(b)(c)

    3,594,400       2,002,446  

Ming Yang Smart Energy Group Ltd., Class A

    1,232,400       1,744,201  

Ming Yuan Cloud Group Holdings Ltd.(a)(c)

    7,973,000       2,272,606  

MINISO Group Holding Ltd.

    3,608,304       16,584,103  

Minth Group Ltd.(c)

    6,938,000       11,794,075  

MMG Ltd.(a)

    27,947,999       7,481,747  

Mobvista Inc.(a)(b)

    7,213,000       3,020,842  

Montage Technology Co. Ltd., Class A

    662,400       4,803,048  

Muyuan Foods Co. Ltd., Class A

    2,805,983       14,949,318  

 

 

14  

2 0 2 4 I S H A R E S  S E M I - A N N U A L  R E P O R TT O  S H A R E H O L D E R S


Schedule of Investments (unaudited) (continued)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
China (continued)            

NARI Technology Co. Ltd., Class A

    3,740,936     $ 12,021,728  

National Silicon Industry Group Co. Ltd., Class A(a)

    1,931,200       4,128,754  

NAURA Technology Group Co. Ltd., Class A

    288,975       11,388,429  

NetDragon Websoft Holdings Ltd.

    3,031,000       4,354,666  

NetEase Inc.

    17,466,235       379,411,537  

New China Life Insurance Co. Ltd., Class A

    963,201       4,373,712  

New China Life Insurance Co. Ltd., Class H

    7,849,400       15,078,960  

New Hope Liuhe Co. Ltd., Class A(a)

    3,841,744       4,713,442  

New Horizon Health Ltd.(a)(b)(c)

    2,592,000       6,749,408  

New Oriental Education & Technology Group Inc.(a)

    13,475,090        126,642,662  

Nexteer Automotive Group Ltd.

    8,604,000       3,964,348  

Nine Dragons Paper Holdings Ltd.(a)(c)

    15,284,000       7,071,697  

Ninestar Corp., Class A

    900,034       2,926,514  

Ningbo Deye Technology Co. Ltd., NVS

    278,760       3,236,911  

Ningbo Joyson Electronic Corp., Class A

    429,000       989,423  

Ningbo Orient Wires & Cables Co. Ltd.

    437,300       2,349,426  

Ningbo Sanxing Medical Electric Co. Ltd.

    706,500       2,650,944  

Ningbo Shanshan Co. Ltd.

    1,880,800       2,985,113  

Ningbo Tuopu Group Co. Ltd., Class A

    727,000       5,904,985  

Ningxia Baofeng Energy Group Co. Ltd., Class A

    4,427,900       9,361,293  

NIO Inc., ADR(a)(c)

    12,627,504       72,608,148  

Noah Holdings Ltd., ADR

    334,077       3,714,936  

Nongfu Spring Co. Ltd., Class H(b)

    18,248,200       103,189,927  

Offcn Education Technology Co. Ltd.,
Class A(a)

    1,751,600       848,624  

Offshore Oil Engineering Co. Ltd., Class A

    2,793,400       2,395,514  

OFILM Group Co. Ltd., Class A(a)

    1,747,400       1,978,628  

Oppein Home Group Inc., Class A

    357,380       3,438,291  

Orient Overseas International Ltd.

    1,255,000       19,434,092  

Orient Securities Co. Ltd., Class A

    4,950,367       6,043,175  

Oriental Pearl Group Co. Ltd., Class A

    840,600       861,738  

Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A(a)

    5,812,100       2,566,871  

PDD Holdings Inc., ADR(a)

    5,385,921       670,762,601  

Peijia Medical Ltd.(a)(b)

    5,367,000       3,490,674  

People.cn Co. Ltd.

    614,600       2,262,003  

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

    88,375,000       29,438,023  

Perfect World Co. Ltd., Class A

    1,228,586       1,992,109  

PetroChina Co. Ltd., Class A

    10,158,937       12,435,807  

PetroChina Co. Ltd., Class H

    191,422,000       150,134,454  

Pharmaron Beijing Co. Ltd., Class A

    866,125       2,799,081  

PICC Property & Casualty Co. Ltd., Class H

    62,577,040       85,550,235  

Ping An Bank Co. Ltd., Class A

    9,195,236       13,482,001  

Ping An Healthcare and Technology Co. Ltd.(a)(b)(c)

    4,697,200       7,254,055  

Ping An Insurance Group Co. of China Ltd., Class A

    5,557,154       32,961,088  

Ping An Insurance Group Co. of China Ltd., Class H

    60,417,500       268,686,712  

Piotech Inc., NVS

    199,200       5,907,005  

Poly Developments and Holdings Group Co. Ltd., Class A

    5,823,611       7,870,965  

Poly Property Group Co. Ltd.

    21,670,000       3,981,504  

Pop Mart International Group Ltd.(b)

    4,788,800       11,938,350  

Postal Savings Bank of China Co. Ltd., Class A

    14,069,500       9,450,300  

Postal Savings Bank of China Co. Ltd., Class H(b)

    71,556,000       37,593,637  

Power Construction Corp. of China Ltd., Class A

    9,424,544       6,673,605  
Security   Shares     Value  
China (continued)            

Q Technology Group Co. Ltd.(a)(c)

    5,346,000     $ 2,103,972  

Qi An Xin Technology Group Inc.(a)

    168,000       815,780  

Qifu Technology Inc.

    1,065,204        16,457,402  

Qinghai Salt Lake Industry Co. Ltd., Class A(a)

    2,911,550       6,522,208  

Range Intelligent Computing Technology Group Co. Ltd.

    823,200       2,964,358  

Redco Properties Group Ltd.(a)(b)(c)(d)

    11,872,000       875,931  

RLX Technology Inc., ADR(c)

    5,138,648       10,020,364  

Rongsheng Petrochemical Co. Ltd., Class A

    5,242,071       7,453,547  

SAIC Motor Corp. Ltd., Class A

    3,159,490       6,549,062  

Sailun Group Co. Ltd., Class A

    3,185,300       6,365,795  

Sanan Optoelectronics Co. Ltd., Class A

    2,741,600       4,728,490  

Sangfor Technologies Inc., Class A(a)

    258,200       2,272,011  

Sany Heavy Equipment International Holdings Co. Ltd.

    11,109,000       8,590,205  

Sany Heavy Industry Co. Ltd., Class A

    4,061,556       7,836,158  

Satellite Chemical Co. Ltd., Class A(a)

    2,782,607       6,388,055  

SciClone Pharmaceuticals Holdings Ltd.(b)

    2,515,500       4,190,332  

SDIC Capital Co. Ltd., Class A

    5,393,800       5,165,004  

SDIC Power Holdings Co. Ltd., Class A

    4,000,800       8,000,046  

Seazen Group Ltd.(a)(c)

    21,108,000       2,977,283  

Seazen Holdings Co. Ltd., Class A(a)

    1,318,226       1,894,556  

Seres Group Co. Ltd., NVS(a)

    819,300       10,448,494  

SF Holding Co. Ltd., Class A

    2,523,492       13,382,161  

SG Micro Corp., Class A

    300,750       2,950,506  

Shaanxi Coal Industry Co. Ltd., Class A

    5,137,490       18,369,759  

Shan Xi Hua Yang Group New Energy Co. Ltd.

    2,526,600       3,545,578  

Shandong Chenming Paper Holdings Ltd., Class B(a)

    311,200       50,775  

Shandong Gold Mining Co. Ltd., Class A

    1,762,801       5,290,356  

Shandong Gold Mining Co. Ltd., Class H(b)

    6,039,000       9,542,023  

Shandong Hualu Hengsheng Chemical Co. Ltd., Class A

    1,699,599       6,473,793  

Shandong Linglong Tyre Co. Ltd., Class A

    1,288,241       3,953,943  

Shandong Nanshan Aluminum Co. Ltd., Class A

    11,552,400       4,967,197  

Shandong Weigao Group Medical Polymer Co. Ltd., Class H

    22,874,800       14,871,030  

Shanghai Aiko Solar Energy Co. Ltd.

    1,074,020       2,250,870  

Shanghai Bairun Investment Holding Group Co. Ltd., Class A

    887,604       2,473,681  

Shanghai Baosight Software Co. Ltd., Class A

    1,058,330       6,871,702  

Shanghai Baosight Software Co. Ltd., Class B

    5,580,897       12,539,572  

Shanghai BOCHU Electronic Technology Corp. Ltd., Class A

    129,600       5,058,544  

Shanghai Chlor-Alkali Chemical Co. Ltd., Class B

    7,706,109       3,691,226  

Shanghai Construction Group Co. Ltd., Class A

    10,434,700       3,543,463  

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

    11,984,600       7,044,279  

Shanghai Electric Power Co. Ltd., Class A

    759,600       878,275  

Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A

    633,600       2,157,748  

Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H

    4,622,000       8,328,290  

Shanghai Fudan Microelectronics Group Co. Ltd.

    176,184       905,507  

Shanghai Haixin Group Co., Class B

    8,108,291       2,464,920  

Shanghai Industrial Holdings Ltd.

    5,812,000       7,600,741  

Shanghai International Airport Co. Ltd.,
Class A(a)

    932,503       4,541,410  

Shanghai International Port Group Co. Ltd., Class A

    8,482,770       6,390,411  

 

 

S C H E D U L EO F  I N V E S T M E N T S

  15


Schedule of Investments (unaudited) (continued)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
China (continued)            

Shanghai Jinjiang International Hotels Co. Ltd., Class A

    570,878     $ 2,297,962  

Shanghai Junshi Biosciences Co. Ltd.(a)

    542,050       2,363,837  

Shanghai M&G Stationery Inc., Class A

    736,547       3,636,748  

Shanghai Moons’ Electric Co. Ltd.

    202,800       1,624,961  

Shanghai Pharmaceuticals Holding Co. Ltd., Class A

    1,233,700       3,099,157  

Shanghai Pharmaceuticals Holding Co. Ltd., Class H

    7,102,300       11,421,214  

Shanghai Pudong Development Bank Co. Ltd., Class A

    13,384,746       13,261,877  

Shanghai Putailai New Energy Technology Co. Ltd., Class A

    1,301,494       3,387,382  

Shanghai RAAS Blood Products Co. Ltd., Class A

    6,858,034       6,841,391  

Shanghai Rural Commercial Bank Co. Ltd.

    5,198,200       4,652,585  

Shanghai United Imaging Healthcare Co. Ltd., NVS

    425,624       8,411,684  

Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd.

    1,393,038       1,014,132  

Shanghai Zhangjiang High-Tech Park Development Co. Ltd., Class A

    841,800       2,329,489  

Shanxi Coal International Energy Group Co. Ltd.

    898,900       2,292,984  

Shanxi Coking Coal Energy Group Co. Ltd., Class A

    3,654,000       5,900,455  

Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A

    2,149,300       7,704,043  

Shanxi Meijin Energy Co. Ltd., Class A(a)

    3,911,369       3,723,992  

Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A

    673,839       21,694,030  

Shede Spirits Co. Ltd.

    231,400       2,596,537  

Shengyi Technology Co. Ltd., Class A

    1,789,908       4,253,332  

Shennan Circuits Co. Ltd., Class A

    311,071       3,026,188  

Shenwan Hongyuan Group Co. Ltd., Class A

    13,547,792       8,601,705  

Shenzhen Capchem Technology Co. Ltd.

    482,103       2,716,238  

Shenzhen Goodix Technology Co. Ltd.,
Class A(a)

    171,300       1,503,531  

Shenzhen Inovance Technology Co. Ltd., Class A

    908,142       7,952,570  

Shenzhen International Holdings Ltd.

    11,150,750       9,402,805  

Shenzhen Investment Ltd.

    29,170,000       3,905,490  

Shenzhen Kaifa Technology Co. Ltd., Class A

    759,600       1,501,112  

Shenzhen Kangtai Biological Products Co. Ltd., Class A

    765,200       2,571,329  

Shenzhen Kedali Industry Co. Ltd., Class A

    101,100       1,024,094  

Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A

    628,946        25,147,953  

Shenzhen New Industries Biomedical Engineering Co. Ltd., Class A

    488,200       5,480,303  

Shenzhen Overseas Chinese Town Co. Ltd., Class A(a)

    6,015,702       2,557,668  

Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A

    241,000       975,070  

Shenzhen SC New Energy Technology Corp., Class A

    206,000       1,846,123  

Shenzhen SED Industry Co. Ltd., NVS

    553,900       1,519,566  

Shenzhen Transsion Holding Co. Ltd., Class A

    471,653       10,396,414  

Shenzhou International Group Holdings Ltd.

    7,426,700       60,917,413  

Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A

    962,518       2,863,441  

Shoucheng Holdings Ltd.(c)

    29,632,800       5,714,693  
Security   Shares     Value  
China (continued)            

Shougang Fushan Resources Group Ltd.

    22,932,000     $ 9,548,496  

Shui On Land Ltd.

    50,000,666       4,525,062  

Sichuan Changhong Electric Co. Ltd.

    2,494,300       1,780,094  

Sichuan Chuantou Energy Co. Ltd., Class A

    4,133,478       8,982,330  

Sichuan Kelun Pharmaceutical Co. Ltd., Class A

    1,154,920       4,389,693  

Sichuan Road & Bridge Co. Ltd., Class A

    5,942,760       6,724,537  

Sichuan Swellfun Co. Ltd., Class A

    350,100       2,434,189  

Sieyuan Electric Co. Ltd.

    476,300       3,778,674  

Sihuan Pharmaceutical Holdings Group
Ltd.(c)

    49,326,000       3,591,156  

Simcere Pharmaceutical Group Ltd.(b)

    3,912,000       2,783,044  

Sino Biopharmaceutical Ltd.

    91,239,000       36,263,829  

Sinofert Holdings Ltd.

    27,726,000       2,865,033  

Sinolink Securities Co. Ltd., Class A

    801,800       1,010,588  

Sinoma International Engineering Co.

    1,742,600       2,708,367  

Sinoma Science & Technology Co. Ltd., Class A

    1,281,200       2,779,770  

Sinomine Resource Group Co. Ltd., Class A

    517,636       2,688,854  

Sinopec Engineering Group Co. Ltd., Class H

    17,476,500       9,582,111  

Sinopec Kantons Holdings Ltd.

    14,674,000       6,653,388  

Sinopharm Group Co. Ltd., Class H

    12,223,200       34,205,814  

Sinotruk Hong Kong Ltd.

    5,611,000       14,834,625  

Skshu Paint Co. Ltd., Class A(a)

    387,748       2,074,286  

Skyworth Group Ltd.

    14,870,000       5,227,678  

Smoore International Holdings Ltd.(b)(c)

    16,260,000       11,303,434  

SOHO China Ltd.(a)(c)

    21,700,000       1,904,531  

Songcheng Performance Development Co. Ltd., Class A

    1,720,356       2,572,936  

SooChow Securities Co. Ltd., Class A

    3,915,900       3,960,946  

Southwest Securities Co. Ltd., Class A

    1,554,700       930,035  

Spring Airlines Co. Ltd., Class A(a)

    673,200       5,355,033  

SSY Group Ltd.

    13,440,411       7,528,527  

StarPower Semiconductor Ltd., Class A

    102,700       2,158,570  

Sun King Technology Group Ltd.(a)

    364,000       53,000  

Sunac Services Holdings Ltd.(b)(c)

    9,850,000       2,504,168  

Sungrow Power Supply Co. Ltd., Class A

    794,200       9,588,589  

Sunny Optical Technology Group Co. Ltd.

    6,346,400       40,844,847  

Sunresin New Materials Co. Ltd., NVS

    159,800       1,112,703  

Sunwoda Electronic Co. Ltd., Class A

    1,432,800       2,821,660  

SUPCON Technology Co. Ltd.

    1,090,629       6,956,695  

Superb Summit International Group Ltd.(d)

    998,771       1  

Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A

    1,170,300       2,428,333  

Suzhou Maxwell Technologies Co. Ltd., Class A

    178,292       3,000,837  

Suzhou TFC Optical Communication Co. Ltd.

    217,100       4,104,330  

SY Holdings Group Ltd.(c)

    8,895,000       4,820,499  

TAL Education Group, ADR(a)(c)

    3,988,986       58,757,764  

TBEA Co. Ltd., Class A

    3,534,287       7,295,958  

TCL Electronics Holdings Ltd.

    10,341,000       3,779,570  

TCL Technology Group Corp., Class A(a)

    13,435,412       8,430,048  

TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A

    2,082,238       3,902,324  

Tencent Holdings Ltd.

    59,618,400        2,088,469,315  

Tencent Music Entertainment Group, ADR(a)

    6,803,569       71,233,367  

Thunder Software Technology Co. Ltd., Class A

    306,300       2,572,131  

Tianfeng Securities Co. Ltd., Class A(a)

    2,680,300       1,160,080  

Tiangong International Co. Ltd.

    14,842,000       3,405,787  

Tianli International Holdings Ltd.

    5,180,000       3,109,522  

Tianma Microelectronics Co. Ltd., Class A(a)

    3,347,505       4,249,431  

Tianneng Power International Ltd.(c)

    7,274,000       6,557,751  

Tianqi Lithium Corp., Class A

    861,900       6,398,458  

 

 

16  

2 0 2 4 I S H A R E S  S E M I - A N N U A L  R E P O R TT O  S H A R E H O L D E R S


Schedule of Investments (unaudited) (continued)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
China (continued)            

Tianshan Aluminum Group Co. Ltd., Class A

    1,412,200     $ 1,108,125  

Tianshui Huatian Technology Co. Ltd., Class A

    3,207,236       3,636,972  

Tingyi Cayman Islands Holding Corp.

    17,798,000       19,792,365  

Tong Ren Tang Technologies Co. Ltd., Class H

    7,098,000       4,654,682  

Tongcheng Travel Holdings Ltd.(a)

    11,096,400       27,895,800  

Tongdao Liepin Group(a)(c)

    3,298,000       1,631,620  

TongFu Microelectronics Co. Ltd., Class A

    647,600       1,994,351  

Tongling Nonferrous Metals Group Co. Ltd., Class A

    7,942,300       3,606,204  

Tongwei Co. Ltd., Class A

    2,177,477       7,993,163  

Topchoice Medical Corp., Class A(a)

    205,999       1,873,976  

Topsports International Holdings Ltd.(b)

    15,618,000       10,569,003  

Towngas Smart Energy Co. Ltd.(c)

    11,463,000       4,137,163  

TravelSky Technology Ltd., Class H

    8,179,000       9,777,733  

Trina Solar Co. Ltd.

    1,193,816       4,149,605  

Trip.com Group Ltd.(a)

    4,974,141        225,777,621  

Tsinghua Tongfang Co. Ltd.(a)

    1,584,100       1,486,518  

Tsingtao Brewery Co. Ltd., Class A

    400,800       4,452,846  

Tsingtao Brewery Co. Ltd., Class H

    5,454,000       34,898,632  

Tuya Inc.(a)

    2,410,195       4,748,084  

Unigroup Guoxin Microelectronics Co. Ltd., Class A(a)

    479,033       4,746,487  

Unisplendour Corp. Ltd., Class A(a)

    1,774,661       5,439,104  

Untrade Cteg(d)

    33,362,000       43  

Untrade SMI Holdings(d)

    12,466,353       16  

Untradelumena Newmat, NVS(d)

    43,450        

Up Fintech Holding Ltd., ADR(a)(c)

    1,032,815       4,151,916  

Venus MedTech Hangzhou Inc.,
Class H(a)(b)(d)

    2,600,500       1,531,095  

Verisilicon Microelectronics Shanghai Co. Ltd.(a)

    178,800       1,007,035  

Vinda International Holdings Ltd.

    2,906,000       8,606,265  

Vipshop Holdings Ltd., ADR(a)

    3,128,799       60,229,381  

Vnet Group Inc., ADR(a)(c)

    937,210       1,452,676  

Walvax Biotechnology Co. Ltd., Class A

    1,151,589       2,936,193  

Wanhua Chemical Group Co. Ltd., Class A

    1,592,186       17,515,237  

Want Want China Holdings Ltd.

    43,531,000       24,018,637  

Weibo Corp., ADR

    623,305       5,684,542  

Weichai Power Co. Ltd., Class A

    3,148,100       7,376,114  

Weichai Power Co. Ltd., Class H

    17,537,000       34,519,159  

Weihai Guangwei Composites Co. Ltd., Class A

    564,560       2,142,424  

Weimob Inc.(a)(b)(c)

    21,042,000       5,634,504  

Wens Foodstuffs Group Co. Ltd., Class A

    3,027,541       8,057,870  

West China Cement Ltd.

    34,048,000       3,912,661  

Western Mining Co. Ltd., Class A

    1,731,300       3,991,387  

Western Securities Co. Ltd., Class A

    6,665,291       7,369,512  

Western Superconducting Technologies Co. Ltd., Class A

    528,120       2,932,860  

Will Semiconductor Co. Ltd. Shanghai, Class A

    582,469       7,732,928  

Wingtech Technology Co. Ltd., Class A(a)

    707,100       3,739,240  

Wuhan Guide Infrared Co. Ltd., Class A

    4,329,096       3,783,062  

Wuliangye Yibin Co. Ltd., Class A

    2,041,574       40,166,575  

WUS Printed Circuit Kunshan Co. Ltd., Class A

    1,274,696       4,672,247  

WuXi AppTec Co. Ltd., Class A

    1,228,439       9,257,828  

WuXi AppTec Co. Ltd., Class H(b)(c)

    3,279,507       20,216,545  

Wuxi Biologics Cayman Inc.(a)(b)

    34,734,000       82,271,233  

XCMG Construction Machinery Co. Ltd., Class A

    8,979,609       7,384,046  

XD Inc.(a)(c)

    3,181,400       5,925,719  

Xiamen C&D Inc., Class A

    2,007,200       2,890,806  

Xiaomi Corp., Class B(a)(b)

    138,333,200       232,458,328  

Xinjiang Daqo New Energy Co. Ltd.

    936,850       3,792,858  
Security   Shares     Value  
China (continued)            

Xinyi Solar Holdings Ltd.

    43,486,800     $ 26,333,228  

XPeng Inc.(a)(c)

    10,196,250       47,721,432  

Xtep International Holdings Ltd.(c)

    12,452,500       6,868,163  

Yadea Group Holdings Ltd.(b)(c)

    11,482,000       18,039,023  

Yangzhou Yangjie Electronic Technology Co. Ltd.

    393,800       2,171,563  

Yankuang Energy Group Co. Ltd., Class A

    1,571,509       5,635,033  

Yankuang Energy Group Co. Ltd., Class H(a)

    21,443,000       49,448,465  

Yantai Jereh Oilfield Services Group Co. Ltd., Class A

    843,368       3,530,074  

Yeahka Ltd.(a)(c)

    2,614,800       4,233,155  

Yealink Network Technology Corp. Ltd., Class A

    817,006       3,324,004  

YiChang HEC ChangJiang Pharmaceutical Co. Ltd., Class H(a)(b)

    994,200       1,291,772  

Yidu Tech Inc. (a)(b)

    5,247,800       2,821,540  

Yifeng Pharmacy Chain Co. Ltd., Class A

    819,459       4,474,794  

Yihai International Holding Ltd.

    4,189,000       5,864,248  

Yihai Kerry Arawana Holdings Co. Ltd., Class A

    957,301       4,284,120  

Yintai Gold Co. Ltd., Class A

    1,024,300       2,124,025  

YongXing Special Materials Technology Co. Ltd., Class A

    413,660       3,161,546  

Yonyou Network Technology Co. Ltd., Class A

    1,942,583       3,415,995  

Youdao Inc., ADR(a)(c)

    82,093       357,925  

Youngor Fashion Co. Ltd., Class A

    928,700       947,484  

Youyuan International Holdings Ltd.(d)

    5,307,000       5,884  

YTO Express Group Co. Ltd., Class A

    2,172,853       3,839,872  

Yuexiu Property Co. Ltd.

    15,002,576       9,976,980  

Yuexiu REIT(c)

    27,591,751       3,693,471  

Yuexiu Transport Infrastructure Ltd.

    11,988,000       6,811,770  

Yum China Holdings Inc.

    3,662,056        157,065,582  

Yunda Holding Co. Ltd., Class A

    1,878,037       1,876,493  

Yunnan Aluminium Co. Ltd., Class A

    2,777,353       4,451,668  

Yunnan Baiyao Group Co. Ltd., Class A

    884,792       6,108,430  

Yunnan Botanee Bio-Technology Group Co. Ltd.

    214,400       1,948,970  

Yunnan Energy New Material Co. Ltd., Class A

    550,132       3,499,714  

Yunnan Yuntianhua Co. Ltd.

    1,180,600       2,985,538  

Yutong Bus Co. Ltd., Class A

    1,454,900       3,769,286  

Zai Lab Ltd.(a)

    8,312,290       17,739,885  

Zangge Mining Co. Ltd.

    1,483,246       6,021,708  

Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A

    286,569       8,855,523  

Zhaojin Mining Industry Co. Ltd., Class H(c)

    11,136,000       11,514,243  

Zhejiang Century Huatong Group Co. Ltd., Class A(a)

    4,556,895       3,092,143  

Zhejiang China Commodities City Group Co. Ltd., Class A

    2,947,020       3,354,635  

Zhejiang Chint Electrics Co. Ltd., Class A

    1,400,673       3,993,575  

Zhejiang Dahua Technology Co. Ltd., Class A

    2,044,258       5,239,159  

Zhejiang Dingli Machinery Co. Ltd., Class A

    447,516       3,661,140  

Zhejiang Expressway Co. Ltd., Class H

    18,493,800       14,103,743  

Zhejiang Huahai Pharmaceutical Co. Ltd., Class A

    1,070,262       2,066,710  

Zhejiang Huayou Cobalt Co. Ltd., Class A

    988,391       3,791,421  

Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A

    823,394       4,225,294  

Zhejiang Juhua Co. Ltd., Class A

    1,908,100       5,385,820  

Zhejiang Leapmotor Technology Co.
Ltd.(a)(b)(c)

    4,308,200       15,072,780  

Zhejiang NHU Co. Ltd., Class A

    2,416,458       6,031,537  

Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A

    1,316,000       4,546,172  

Zhejiang Supor Co. Ltd., Class A

    437,640       3,363,064  

 

 

S C H E D U L EO F  I N V E S T M E N T S

  17


Schedule of Investments (unaudited) (continued)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
China (continued)            

Zhejiang Weiming Environment Protection Co. Ltd., Class A

    1,522,973     $ 3,782,918  

Zhejiang Zheneng Electric Power Co. Ltd., Class A(a)

    6,076,000       4,536,090  

Zheshang Securities Co. Ltd., Class A

    3,760,000       5,340,472  

ZhongAn Online P&C Insurance Co. Ltd., Class H(a)(b)

    6,454,600       10,164,197  

Zhongji Innolight Co. Ltd., Class A

    472,074       10,167,900  

Zhongjin Gold Corp. Ltd., Class A

    3,362,118       4,843,399  

Zhongsheng Group Holdings Ltd.

    6,465,500       11,771,310  

Zhongtai Securities Co. Ltd.

    5,190,300       4,999,870  

Zhou Hei Ya International Holdings Co. Ltd.(b)(c)

    10,537,500       2,434,317  

Zhuzhou CRRC Times Electric Co. Ltd.

    5,379,100       15,771,236  

Zijin Mining Group Co. Ltd., Class A

    9,444,200       17,114,843  

Zijin Mining Group Co. Ltd., Class H

    50,758,000       81,533,763  

Zonqing Environmental Ltd., NVS(c)

    56,000       159,142  

Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A

    6,976,300       7,740,084  

ZTE Corp., Class A

    1,875,939       7,761,616  

ZTE Corp., Class H

    7,219,640       16,262,123  

ZTO Express Cayman Inc., ADR

    3,831,260       73,521,879  
   

 

 

 
       16,966,849,120  
Colombia — 0.1%            

Bancolombia SA

    2,232,913       18,739,402  

Interconexion Electrica SA ESP

    4,293,966       18,291,748  
   

 

 

 
      37,031,150  
Czech Republic — 0.1%            

CEZ AS

    1,457,664       49,800,976  

Komercni Banka AS

    714,574       24,868,579  

Moneta Money Bank AS(b)

    3,620,592       15,893,158  
   

 

 

 
      90,562,713  
Egypt — 0.1%            

Commercial International Bank - Egypt (CIB)

    22,032,406       31,452,477  

Eastern Co. S.A.E

    9,912,413       7,011,633  

EFG Holding S.A.E.(a)

    15,569,131       5,714,251  

E-Finance for Digital & Financial Investments, NVS

    5,507,837       2,317,053  

EISewedy Electric Co.

    8,670,920       5,921,604  

Ezz Steel Co. SAE(a)

    639,021       977,838  

Fawry for Banking & Payment Technology Services SAE(a)

    19,640,703       2,835,926  

Talaat Moustafa Group

    9,739,310       12,701,971  

Telecom Egypt Co.

    4,706,598       3,544,872  
   

 

 

 
      72,477,625  
Greece — 0.5%            

Aegean Airlines SA(a)

    153,453       2,086,417  

Alpha Services and Holdings SA(a)

    20,794,368       39,171,127  

Athens Water Supply & Sewage Co. SA(c)

    444,043       2,649,166  

Autohellas Tourist and Trading SA

    43,676       637,268  

Eurobank Ergasias Services and Holdings SA, Class A(a)

    24,230,613       50,059,192  

FF Group(d)

    343,633       4  

GEK Terna Holding Real Estate Construction SA

    609,784       9,384,932  

Hellenic Energy Holdings SA

    393,085       3,572,956  

Hellenic Telecommunications Organization SA

    1,648,680       24,875,219  

Holding Co. ADMIE IPTO SA

    1,946,341       4,806,524  

Intracom SA Technical & Steel Constructions(a)

    421,107       2,503,227  

Intralot SA-Integrated Information Systems & Gaming Services(a)

    2,274,366       3,072,667  

JUMBO SA

    1,069,522       31,256,586  
Security   Shares     Value  
Greece (continued)            

LAMDA Development SA(a)

    829,044     $ 6,057,165  

Motor Oil Hellas Corinth Refineries SA

    605,145       17,289,786  

Mytilineos SA

    910,758       35,436,484  

National Bank of Greece SA(a)

    7,081,587       55,604,343  

OPAP SA

    1,738,560       31,699,316  

Piraeus Financial Holdings SA(a)

    6,514,650       28,781,134  

Public Power Corp. SA(a)

    1,847,330       24,130,492  

Sarantis SA(c)

    254,153       2,518,893  

Terna Energy SA

    500,759       8,966,522  

Titan Cement International SA(c)

    516,521       14,654,210  
   

 

 

 
      399,213,630  
Hungary — 0.2%            

Magyar Telekom Telecommunications PLC

    5,532,873       12,560,619  

MOL Hungarian Oil & Gas PLC

    3,821,179       30,403,105  

OTP Bank Nyrt

    2,057,710       98,657,557  

Richter Gedeon Nyrt

    1,232,730       32,818,381  
   

 

 

 
      174,439,662  
India — 19.1%            

360 ONE WAM Ltd.

    1,560,296       13,482,403  

3M India Ltd.

    32,300       12,456,884  

Aarti Industries Ltd.

    1,848,524       14,621,835  

Aarti Pharmalabs Ltd., NVS

    517,417       3,048,786  

Aavas Financiers Ltd.(a)

    384,621       6,742,239  

ABB India Ltd.

    541,371       35,488,396  

Action Construction Equipment Ltd.

    273,206       4,163,145  

Adani Enterprises Ltd.

    1,562,789       61,899,283  

Adani Green Energy Ltd.(a)

    2,884,018       65,914,200  

Adani Ports & Special Economic Zone Ltd.

    4,870,557       77,324,284  

Adani Power Ltd.(a)

    7,035,803       46,563,862  

Aditya Birla Fashion and Retail Ltd.(a)

    3,754,311       10,183,582  

Aegis Logistics Ltd.

    1,797,353       9,534,757  

Affle India Ltd.(a)

    717,605       9,652,147  

AGI Greenpac Ltd.

    140,028       1,382,895  

AIA Engineering Ltd.

    436,530       19,231,019  

Ajanta Pharma Ltd.

    497,366       13,244,498  

Alembic Pharmaceuticals Ltd.

    601,738       7,385,611  

Alkyl Amines Chemicals

    194,911       5,040,653  

Alok Industries Ltd.(a)

    13,428,124       4,667,131  

Amara Raja Energy & Mobility Ltd.

    1,263,308       12,781,013  

Amber Enterprises India Ltd.(a)

    211,712       9,400,020  

Ambuja Cements Ltd.

    5,639,888       41,189,977  

Anand Rathi Wealth Ltd.

    84,368       3,708,692  

Anant Raj Ltd.

    592,673       2,501,748  

Angel One Ltd.

    371,852       12,480,589  

Apar Industries Ltd.

    134,543       10,150,166  

APL Apollo Tubes Ltd.

    1,676,810       31,230,032  

Apollo Hospitals Enterprise Ltd.

    951,171       70,024,539  

Apollo Tyres Ltd.

    3,575,854       22,324,521  

Aptus Value Housing Finance India Ltd.

    60,556       257,185  

Archean Chemical Industries Ltd., NVS

    345,749       3,151,375  

Arvind Ltd.

    901,363       3,053,697  

Ashok Leyland Ltd.

    14,660,844       30,029,077  

Ashoka Buildcon Ltd.(a)

    986,508       2,214,827  

Asian Paints Ltd.

    3,505,881        119,580,410  

Astra Microwave Products Ltd.

    369,954       2,755,171  

Astral Ltd.

    1,212,353       30,253,475  

AstraZeneca Pharma India Ltd.

    80,281       5,341,223  

Atul Ltd.

    125,367       9,395,937  

AU Small Finance Bank Ltd.(b)

    1,693,170       11,606,710  

Aurobindo Pharma Ltd.

    2,368,782       29,364,678  

Avanti Feeds Ltd.

    861,238       5,259,862  

 

 

18  

2 0 2 4 I S H A R E S  S E M I - A N N U A L  R E P O R TT O  S H A R E H O L D E R S


Schedule of Investments (unaudited) (continued)

February 29, 2024

  

iShares® Core MSCI Emerging Markets ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
India (continued)            

Avenue Supermarts Ltd.(a)(b)

    1,528,814     $ 72,198,348  

Axis Bank Ltd.

    20,797,505        269,224,230  

Bajaj Auto Ltd.

    649,620       61,914,646  

Bajaj Electricals Ltd.

    532,503       6,394,048  

Bajaj Finance Ltd.

    2,485,646       193,924,138  

Bajaj Finserv Ltd.

    3,548,055       68,104,269  

Bajaj Holdings & Investment Ltd.

    276,310       30,479,596  

Bajel Projects Ltd., NVS

    348,496       913,099  

Balaji Amines Ltd.

    124,007       3,249,924  

Balkrishna Industries Ltd.

    825,726       22,179,207  

Balrampur Chini Mills Ltd.

    1,764,954       7,928,208  

Bandhan Bank Ltd.(b)

    6,049,894       14,247,037  

Bank of Baroda

    10,135,215       32,427,871  

BASF India Ltd.

    131,577       5,227,612  

Bata India Ltd.

    540,644       9,190,253  

Bayer CropScience Ltd.

    156,172       10,678,169  

BEML Ltd., (Acquired 02/10/22, Cost: $6,224,140)(e)

    209,128       7,853,021  

Berger Paints India Ltd.

    2,852,616       20,873,154  

Bharat Dynamics Ltd.

    552,025       12,031,560  

Bharat Electronics Ltd.

    33,127,439       81,828,003  

Bharat Forge Ltd.

    2,482,381       34,421,175  

Bharat Heavy Electricals Ltd.

    7,704,876       21,144,764  

Bharat Petroleum Corp. Ltd.

    7,016,749       50,993,316  

Bharti Airtel Ltd.

    20,589,606       278,762,642  

Biocon Ltd.

    3,916,546       13,029,893  

Birla Corp. Ltd.

    333,339       6,585,250  

Birlasoft Ltd.

    1,920,201       17,946,517  

BLS International Services Ltd.

    933,285       4,109,449  

Blue Dart Express Ltd.

    75,157       5,469,977  

Blue Star Ltd.

    1,092,075       16,714,575  

Borosil Renewables Ltd.(a)

    724,275       4,688,123  

Brigade Enterprises Ltd.

    1,251,736       15,065,384  

Brightcom Group Ltd.(a)

    15,808,592       3,279,306  

Britannia Industries Ltd.

    1,020,471       61,155,438  

BSE Ltd.

    637,063       18,197,591  

Can Fin Homes Ltd.

    1,036,192       9,669,534  

Carborundum Universal Ltd.

    1,000,713       12,893,480  

Castrol India Ltd.

    1,447,702       3,638,624  

Ceat Ltd.

    277,875       9,559,666  

Central Depository Services India Ltd.

    575,625       13,313,027  

Century Plyboards India Ltd.

    561,348       4,789,006  

Century Textiles & Industries Ltd.

    753,634       12,809,052  

CESC Ltd.

    8,990,014       13,771,150  

CG Power and Industrial Solutions Ltd.

    5,934,018       31,710,294  

Chambal Fertilisers and Chemicals Ltd.

    2,395,025       10,131,536  

Chennai Petroleum Corp. Ltd.

    435,882       4,651,396  

Cholamandalam Financial Holdings Ltd.

    1,051,060       13,290,245  

Cholamandalam Investment and Finance Co. Ltd.

    4,017,460       52,629,923  

CIE Automotive India Ltd.

    1,441,705       7,649,292  

Cipla Ltd.

    4,741,788       84,681,656  

City Union Bank Ltd.

    4,768,444       7,753,142  

Clean Science & Technology Ltd.

    293,715       4,996,506  

Coal India Ltd.

    14,492,830       76,106,459  

Cochin Shipyard Ltd., NVS

    981,430       10,330,431  

Coforge Ltd.

    529,243       41,836,694  

Colgate-Palmolive India Ltd.

    1,191,315       36,229,248  

Computer Age Management Services Ltd.

    339,557       12,549,477  

Concord Biotech Ltd., NVS

    122,676       2,145,657  

Container Corp. of India Ltd.

    2,592,099       30,536,623  

Coromandel International Ltd.

    916,876       11,885,261  
Security   Shares     Value  
India (continued)            

CreditAccess Grameen Ltd.(a)

    514,618     $ 9,114,291  

CRISIL Ltd.

    181,128       10,938,395  

Crompton Greaves Consumer Electricals Ltd.

    5,406,717       18,938,491  

Cummins India Ltd.

    1,355,070       44,771,840  

Cyient Ltd.