iShares
®
MSCI
Europe
Small-Cap
ETF
Schedule
of
Investments
(unaudited)
April
30,
2026
(Percentages
shown
are
based
on
Net
Assets)
1
Schedule
of
Investments
Security
Shares
Value
a
Common
Stocks
Austria
 — 
1
.9
%
ANDRITZ
AG
...........................
8,014
$
680,955
AT&S
Austria
Technologie
&
Systemtechnik
AG
(a)
(b)
..
2,953
327,115
CA
Immobilien
Anlagen
AG
..................
3,601
114,956
CPI
Europe
AG
(a)
(b)
........................
4,190
76,714
DO
&
CO
AG
...........................
918
186,392
EVN
AG
...............................
4,131
140,363
Frequentis
AG
...........................
389
33,545
Lenzing
AG
(a)
(b)
..........................
2,303
63,035
Oesterreichische
Post
AG
...................
4,007
150,838
Palfinger
AG
............................
2,000
82,155
Porr
AG
...............................
2,379
108,892
UNIQA
Insurance
Group
AG
.................
14,527
278,743
Vienna
Insurance
Group
AG
Wiener
Versicherung
Gruppe
..............................
4,504
339,131
voestalpine
AG
..........................
12,740
658,696
Wienerberger
AG
.........................
12,835
372,141
3,613,671
a
Belgium
 — 
3
.5
%
Ackermans
&
van
Haaren
N.V.
................
2,745
905,336
Aedifica
SA
.............................
9,892
833,909
Azelis
Group
N.V.
........................
25,746
341,121
Barco
N.V.
.............................
7,163
80,176
Bekaert
SA
.............................
3,986
196,833
CMB
Tech
N.V.
..........................
7,028
95,942
CMB
Tech
N.V.
..........................
7,820
107,534
Cofinimmo
SA
...........................
919
90,641
Colruyt
Group
N.V.
(a)
.......................
3,536
136,287
Deme
Group
N.V.
........................
893
203,779
Fagron
................................
7,926
223,592
Galapagos
N.V.
(b)
.........................
3,859
108,355
Gimv
N.V.
..............................
2,835
159,745
KBC
Ancora
............................
4,584
418,442
Kinepolis
Group
N.V.
......................
1,566
56,284
Melexis
N.V.
............................
2,342
197,090
Montea
N.V.
............................
2,302
190,213
Ontex
Group
N.V.
(a)
(b)
......................
7,788
26,598
Proximus
SADP
..........................
18,059
137,979
Recticel
SA
.............................
4,858
57,634
Retail
Estates
N.V.
........................
1,404
111,938
Shurgard
Self
Storage
Ltd.
..................
4,237
130,329
Solvay
SA
..............................
8,706
284,283
Tessenderlo
Group
SA
.....................
2,818
70,702
Umicore
SA
............................
23,465
474,585
Vastned
N.V.
............................
967
34,388
VGP
N.V.
..............................
1,612
165,493
Warehouses
De
Pauw
CVA
..................
23,445
616,233
Xior
Student
Housing
N.V.
...................
4,700
152,363
6,607,804
a
Bermuda
 — 
0
.2
%
AutoStore
Holdings
Ltd.
(b)
(c)
..................
141,301
181,144
Conduit
Holdings
Ltd.
......................
15,872
95,354
276,498
a
China
 — 
0
.0
%
Boshiwa
International
Holding
Ltd.
(a)
(b)
(d)
..........
20,000
—
Real
Gold
Mining
Ltd.
(b)
(d)
....................
27,000
—
—
a
Denmark
 — 
4
.2
%
AL
Sydbank
............................
7,299
622,515
ALK-Abello
A.S.
..........................
15,422
577,641
Security
Shares
Value
a
Denmark
(continued)
Alm
Brand
A.S.
..........................
85,178
$
198,793
Ambu
A.S.
,
Class
B
(a)
......................
22,153
219,600
Bavarian
Nordic
A.S.
(b)
.....................
9,384
276,216
Chemometec
A.S.
........................
2,032
102,458
D/S
Norden
A.S.
.........................
2,306
109,120
Dfds
A.S.
(b)
.............................
3,644
78,270
FLSmidth
&
Co.
A.S.
......................
5,101
378,862
GN
Store
Nord
A.S.
(a)
(b)
.....................
15,983
240,409
Gubra
A.S.
.............................
743
37,141
H
Lundbeck
A.S.
.........................
33,154
222,881
ISS
A.S.
...............................
16,534
606,543
Jyske
Bank
A.S.
,
Registered
.................
5,049
702,892
Matas
A.S.
(a)
............................
4,138
65,784
Netcompany
Group
A.S.
(a)
(b)
(c)
.................
4,753
271,516
NKT
A.S.
(b)
.............................
6,353
938,416
NTG
Nordic
Transport
Group
A.S.
(b)
............
1,431
41,848
Per
Aarsleff
Holding
A.S.
....................
2,042
237,819
Ringkjoebing
Landbobank
A.S.
................
3,006
751,083
Royal
Unibrew
A.S.
.......................
5,974
399,531
Scandinavian
Tobacco
Group
A.S.
,
Class
A
(c)
......
5,350
56,633
Schouw
&
Co
A.S.
........................
1,501
154,749
TORM
PLC
,
Class
A
.......................
7,125
228,505
Zealand
Pharma
A.S.
(b)
.....................
7,636
361,154
7,880,379
a
Finland
 — 
2
.4
%
Bittium
OYJ
............................
3,137
117,158
Finnair
OYJ
(b)
...........................
10,521
39,599
Harvia
OYJ
.............................
1,838
76,580
Hiab
OYJ
..............................
4,548
270,358
Huhtamaki
OYJ
..........................
11,506
368,234
Kalmar
OYJ
,
Class
B
......................
4,548
243,895
Kemira
OYJ
............................
14,100
292,382
Kempower
OYJ
(b)
.........................
2,602
43,802
Konecranes
OYJ
.........................
23,870
783,962
Lumo
Kodit
OYJ
.........................
17,603
167,654
Mandatum
OYJ
..........................
50,395
403,052
Marimekko
OYJ
..........................
3,754
43,706
Metsa
Board
OYJ
,
Class
B
(a)
(b)
................
19,041
63,715
Nokian
Renkaat
OYJ
(a)
.....................
14,695
180,789
Outokumpu
OYJ
.........................
44,915
302,117
Puuilo
OYJ
.............................
9,490
144,793
QT
Group
OYJ
(a)
(b)
........................
2,342
52,944
Revenio
Group
OYJ
(b)
......................
2,655
43,313
Tieto
OYJ
..............................
12,668
283,015
Tokmanni
Group
Corp.
(a)
....................
5,408
48,301
Valmet
OYJ
............................
17,537
457,913
YIT
OYJ
(b)
..............................
16,525
48,971
4,476,253
a
France
 — 
9
.2
%
Air
France-KLM
,
NVS
(b)
.....................
13,953
148,529
Altarea
SCA
............................
699
91,871
Alten
SA
...............................
3,602
239,970
Antin
Infrastructure
Partners
SA
...............
4,131
51,315
APERAM
SA
............................
5,169
276,498
ARGAN
SA
,
NVS
.........................
1,525
109,994
Arkema
SA
.............................
6,679
487,460
Assystem
SA
...........................
593
31,945
Aubay
................................
944
55,389
Beneteau
SACA
.........................
4,264
34,314
Canal+
SA
(b)
............................
80,469
251,189
Carmila
SA
.............................
7,436
148,521
Cie
des
Alpes
...........................
2,400
62,391
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
iShares
®
MSCI
Europe
Small-Cap
ETF
(Percentages
shown
are
based
on
Net
Assets)
2
Security
Shares
Value
a
France
(continued)
Clariane
SE
(b)
...........................
12,220
$
58,094
Coface
SA
.............................
12,253
227,218
Derichebourg
SA
.........................
11,096
118,212
Edenred
SE
............................
28,177
705,666
Elior
Group
SA
(c)
.........................
13,794
42,819
Elis
SA
................................
19,349
597,888
Emeis
SA
(b)
.............................
8,611
145,534
Equasens
(a)
.............................
575
25,370
Eramet
SA
(a)
............................
994
68,576
Etablissements
Maurel
et
Prom
SA
.............
7,025
82,024
Eurazeo
SE
............................
4,454
243,096
Eutelsat
Communications
SACA
(a)
(b)
............
34,545
110,238
Exail
Technologies
SA
,
NVS
(b)
................
1,112
161,310
Exosens
SAS
...........................
3,565
272,242
FDJ
UNITED
............................
13,030
353,987
Fnac
Darty
SA
...........................
1,373
56,883
Forvia
SE
(b)
.............................
18,722
220,705
Gaztransport
Et
Technigaz
SA
................
4,386
1,067,088
GL
Events
SACA
.........................
1,024
40,311
ICADE
(b)
...............................
4,112
98,995
ID
Logistics
Group
SACA
(b)
..................
381
161,803
Imerys
SA
..............................
3,929
102,841
Interparfums
SA
..........................
2,946
81,969
IPSOS
SA
.............................
4,353
184,610
JCDecaux
SE
...........................
8,763
194,917
Kaufman
&
Broad
SA
......................
1,736
56,397
LISI
SA
...............................
2,479
181,476
Louis
Hachette
Group
,
NVS
..................
75,556
146,879
Manitou
BF
SA
..........................
1,471
35,290
Medincell
SA
,
NVS
(a)
(b)
.....................
2,157
62,479
Mercialys
SA
............................
11,301
165,516
Mersen
SA
.............................
2,524
94,968
Metropole
Television
SA
....................
2,931
44,766
Nanobiotix
SA
(b)
..........................
3,699
124,967
Nexans
SA
.............................
4,403
821,837
Nexity
SA
(b)
.............................
4,927
48,909
Opmobility
.............................
6,995
118,195
OVH
Groupe
SA
(a)
(b)
.......................
3,599
43,971
Peugeot
Invest
SA
........................
572
43,360
Pierre
Et
Vacances
SA
,
NVS
(b)
................
17,491
38,200
Planisware
SA
,
NVS
.......................
2,919
61,620
Pluxee
N.V.
,
NVS
(a)
.......................
10,460
148,633
Quadient
SA
............................
2,820
38,562
Remy
Cointreau
SA
.......................
2,871
135,341
Robertet
SA
............................
108
101,403
Rubis
SCA
.............................
8,992
370,600
SCOR
SE
..............................
19,084
712,077
SEB
SA
...............................
2,926
179,572
Seche
Environnement
SACA
,
NVS
(a)
............
260
25,456
SES
SA
...............................
42,827
353,355
Societe
BIC
SA
..........................
2,193
151,254
SOITEC
(b)
..............................
3,178
478,123
Sopra
Steria
Group
.......................
1,684
262,760
SPIE
SA
...............................
17,038
988,589
Technip
Energies
N.V.
.....................
15,842
749,446
Teleperformance
SE
.......................
6,384
432,383
Television
Francaise
1
SA
...................
5,054
40,202
Tikehau
Capital
SCA
......................
3,080
63,874
Trigano
SA
.............................
1,025
188,497
Ubisoft
Entertainment
SA
(a)
(b)
.................
10,842
63,250
Valeo
SE
..............................
24,477
308,100
Vallourec
SACA
..........................
19,300
581,541
Valneva
SE
(a)
(b)
..........................
16,334
44,615
Security
Shares
Value
a
France
(continued)
Vicat
SACA
.............................
1,902
$
134,308
Virbac
SACA
............................
500
218,398
Viridien
(b)
..............................
841
143,042
Vivendi
SE
.............................
78,963
184,338
Voltalia
SA
,
Registered
(a)
(b)
...................
4,695
39,016
Vusion
(a)
...............................
1,003
143,065
Wavestone
.............................
886
47,814
Wendel
SE
.............................
2,870
284,399
Worldline
SA
(a)
(b)
(c)
........................
160,606
47,377
X-Fab
Silicon
Foundries
SE
(b)
(c)
................
6,668
49,514
17,209,516
a
Germany
 — 
8
.4
%
Adesso
SE
.............................
416
28,464
AIXTRON
SE
...........................
13,367
738,578
Alzchem
Group
AG
(a)
......................
717
139,394
Aroundtown
SA
(b)
.........................
89,464
258,667
Atoss
Software
SE
........................
1,110
103,178
Aumovio
SE
(b)
...........................
6,461
280,204
Aurubis
AG
.............................
2,931
630,721
Auto1
Group
SE
(b)
........................
15,638
334,020
Bechtle
AG
(a)
............................
9,627
327,648
Befesa
SA
(c)
............................
4,095
156,970
Bilfinger
SE
.............................
4,238
488,772
CANCOM
SE
(a)
..........................
2,897
84,215
Carl
Zeiss
Meditec
AG
,
Bearer
................
4,216
131,299
CECONOMY
AG
(b)
........................
17,551
90,222
Cewe
Stiftung
&
Co.
KGAA
..................
626
69,364
Dermapharm
Holding
SE
...................
1,575
85,678
Deutsche
Pfandbriefbank
AG
(a)
(c)
...............
16,791
64,048
Deutz
AG
(a)
.............................
17,218
201,338
Douglas
AG
(b)
...........................
3,695
44,147
Duerr
AG
..............................
6,040
149,881
Eckert
&
Ziegler
SE
.......................
5,340
95,754
Elmos
Semiconductor
SE
...................
942
203,754
Energiekontor
AG
(a)
.......................
843
40,295
Evotec
SE
(a)
(b)
...........................
17,247
106,745
Fielmann
Group
AG
.......................
3,000
149,752
flatexDEGIRO
SE
........................
9,812
351,071
Fraport
AG
Frankfurt
Airport
Services
Worldwide
(b)
...
4,334
355,617
Freenet
AG
.............................
13,968
444,878
Friedrich
Vorwerk
Group
SE
.................
806
69,137
Gerresheimer
AG
(a)
.......................
3,830
110,309
GFT
Technologies
SE
......................
1,980
43,177
Grand
City
Properties
SA
(b)
..................
3,855
43,389
GRENKE
AG
...........................
2,722
40,700
HelloFresh
SE
(a)
(b)
........................
15,527
84,321
Hornbach
Holding
AG
&
Co.
KGaA
.............
1,248
118,652
HUGO
BOSS
AG
(a)
........................
4,948
209,828
Hypoport
SE
(a)
(b)
..........................
488
47,135
Indus
Holding
AG
.........................
2,111
74,038
IONOS
Group
SE
(a)
(b)
......................
5,732
176,440
Jenoptik
AG
............................
6,000
236,124
JOST
Werke
SE
(c)
........................
1,925
117,030
K+S
AG
,
Registered
.......................
20,199
377,899
KION
Group
AG
..........................
8,542
445,819
Kloeckner
&
Co.
SE
.......................
4,798
70,684
Kontron
AG
(a)
...........................
4,488
112,528
Krones
AG
.............................
1,668
241,403
KWS
Saat
SE
&
Co
KGaA
...................
1,354
122,045
LANXESS
AG
(a)
..........................
10,217
217,728
MBB
SE
...............................
182
42,428
Mutares
SE
&
Co.
KGaA
(a)
...................
1,969
57,034
Nagarro
SE
(a)
...........................
974
49,491
Nordex
SE
(a)
(b)
...........................
15,382
877,119
iShares
®
MSCI
Europe
Small-Cap
ETF
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
(Percentages
shown
are
based
on
Net
Assets)
3
Schedule
of
Investments
Security
Shares
Value
a
Germany
(continued)
Norma
Group
SE
.........................
2,529
$
43,632
PATRIZIA
SE
...........................
4,748
41,743
Pfisterer
Holding
SE
(b)
......................
846
102,999
PNE
AG
(a)
..............................
3,133
34,748
ProSiebenSat.1
Media
SE
(a)
..................
6,835
32,473
Puma
SE
..............................
12,178
372,816
Redcare
Pharmacy
N.V.
(a)
(b)
(c)
.................
1,928
109,162
RENK
Group
AG
(a)
........................
10,081
640,698
RTL
Group
SA
(a)
.........................
4,605
177,003
SAF-Holland
SE
.........................
5,578
115,125
Salzgitter
AG
............................
2,846
160,985
Schaeffler
AG
...........................
22,137
210,472
Schott
Pharma
AG
&
Co.
KGaA
...............
4,370
76,426
Secunet
Security
Networks
AG
................
181
38,909
Siltronic
AG
.............................
1,574
147,475
Sixt
SE
(a)
..............................
1,616
129,311
SMA
Solar
Technology
AG
(b)
.................
1,820
116,618
Stabilus
SE
.............................
2,819
57,130
Stroeer
SE
&
Co.
KGaA
(a)
...................
3,932
171,702
Suedzucker
AG
(a)
.........................
7,032
102,289
SUSS
MicroTec
SE
.......................
2,297
205,636
TAG
Immobilien
AG
.......................
22,478
391,992
TeamViewer
SE
(b)
(c)
.......................
18,116
101,221
thyssenkrupp
AG
.........................
59,177
704,271
Thyssenkrupp
Nucera
AG
&
Co.
KGaa
(b)
(c)
........
2,824
29,015
Tkms
AG&
Co.
KGaA
(b)
.....................
3,014
309,907
United
Internet
AG
,
Registered
................
10,324
324,352
Verbio
SE
(b)
.............................
2,615
115,828
Vossloh
AG
.............................
1,118
99,266
Wacker
Chemie
AG
.......................
2,135
234,284
Wacker
Neuson
SE
.......................
3,286
74,185
Wuestenrot
&
Wuerttembergische
AG
(a)
..........
2,721
47,387
15,658,192
a
Greece
 — 
0
.3
%
Metlen
Energy
&
Metals
PLC
(a)
(b)
...............
11,904
503,090
a
Hong
Kong
 — 
0
.0
%
Peace
Mark
Holdings
Ltd.
(b)
(d)
.................
30,000
—
a
Ireland
 — 
0
.6
%
Cairn
Homes
PLC
........................
73,967
189,249
Glanbia
PLC
............................
25,046
581,438
Glenveagh
Properties
PLC
(b)
(c)
................
60,959
150,959
Irish
Residential
Properties
REIT
PLC
...........
61,568
77,462
Uniphar
PLC
............................
26,940
131,531
1,130,639
a
Italy
 — 
6
.2
%
A2A
SpA
..............................
186,111
529,994
ACEA
SpA
.............................
6,219
163,058
Amplifon
SpA
...........................
14,493
160,542
Ariston
Holding
N.V.
.......................
9,629
44,457
Arnoldo
Mondadori
Editore
SpA
...............
15,446
37,344
Ascopiave
SpA
..........................
13,481
55,123
Avio
SpA
..............................
4,386
162,356
Azimut
Holding
SpA
.......................
13,775
584,954
Banca
Generali
SpA
.......................
6,833
448,185
Banca
IFIS
SpA
..........................
3,651
99,466
Banco
di
Desio
e
della
Brianza
SpA
............
3,856
41,821
BFF
Bank
SpA
(b)
(c)
........................
21,119
51,398
Bio
On
SpA
(a)
(b)
(d)
.........................
801
—
Brembo
N.V.
............................
17,508
164,986
Brunello
Cucinelli
SpA
.....................
4,015
391,793
Carel
Industries
SpA
(c)
.....................
5,947
181,472
Security
Shares
Value
a
Italy
(continued)
Cembre
SpA
............................
732
$
66,925
Cementir
Holding
N.V.
.....................
5,617
100,489
CIR
SpA-Compagnie
Industriali
(b)
..............
57,896
45,458
Credito
Emiliano
SpA
......................
8,098
143,512
d'Amico
International
Shipping
SA
.............
5,676
53,293
Danieli
&
C
Officine
Meccaniche
SpA
(a)
..........
1,251
97,978
De'
Longhi
SpA
..........................
8,080
314,201
DiaSorin
SpA
...........................
2,611
178,136
El.En.
SpA
.............................
5,410
83,376
Enav
SpA
(c)
.............................
31,939
186,967
ERG
SpA
..............................
6,053
163,586
Ferretti
SpA
............................
16,769
78,133
Fila
SpA
...............................
3,583
39,108
Fincantieri
SpA
(b)
.........................
14,652
206,060
GVS
SpA
(a)
(b)
(c)
...........................
7,757
38,614
Hera
SpA
..............................
97,116
458,288
Industrie
De
Nora
SpA
.....................
3,802
27,621
Intercos
SpA
,
NVS
........................
6,143
87,382
Interpump
Group
SpA
......................
9,075
382,584
Iren
SpA
...............................
68,364
209,198
Italmobiliare
SpA
.........................
1,768
60,383
Iveco
Group
N.V.
.........................
24,136
395,913
Juventus
Football
Club
SpA
,
NVS
(a)
(b)
...........
13,318
31,793
Lottomatica
Group
SpA
.....................
29,759
874,968
LU-VE
SpA
,
NVS
.........................
1,119
72,364
Maire
SpA
.............................
17,352
320,891
MARR
SpA
.............................
3,717
37,658
MFE-MediaForEurope
N.V.
,
Class
A
............
30,247
103,216
MFE-MediaForEurope
N.V.
,
Class
B
............
6,511
28,198
NewPrinces
SpA
,
NVS
(a)
(b)
...................
2,306
45,631
Nexi
SpA
(c)
.............................
61,884
294,975
OVS
SpA
(c)
.............................
18,308
108,954
Pharmanutra
SpA
........................
416
38,473
Piaggio
&
C
SpA
.........................
21,063
39,803
Pirelli
&
C
SpA
(c)
.........................
50,888
350,018
RAI
Way
SpA
(c)
..........................
11,465
82,439
Reply
SpA
.............................
2,652
294,039
Safilo
Group
SpA
(b)
........................
24,348
45,722
Saipem
SpA
............................
152,130
824,248
Salvatore
Ferragamo
SpA
(a)
(b)
.................
5,802
50,588
Sanlorenzo
SpA
..........................
1,668
65,204
Sesa
SpA
..............................
892
90,317
SOL
SpA
..............................
4,300
290,690
Tamburi
Investment
Partners
SpA
..............
10,798
106,834
Technogym
SpA
(c)
........................
13,237
311,862
Technoprobe
SpA
(b)
.......................
15,306
332,192
Webuild
SpA
............................
48,333
143,663
Wiit
SpA
...............................
1,411
50,244
Zignago
Vetro
SpA
........................
3,362
27,779
11,596,917
a
Netherlands
 — 
3
.3
%
Aalberts
N.V.
............................
11,401
433,085
Allfunds
Group
PLC
.......................
35,286
361,122
AMG
Critical
Materials
N.V.
..................
3,640
153,641
Arcadis
N.V.
............................
8,611
368,788
Basic-Fit
N.V.
(b)
(c)
.........................
5,898
197,698
Corbion
N.V.
............................
6,372
142,398
Eurocommercial
Properties
N.V.
...............
5,172
169,671
Ferrari
Group
PLC
........................
3,205
30,619
Flow
Traders
Ltd.
(b)
........................
4,085
131,461
Fugro
N.V.
.............................
13,300
192,871
Havas
N.V.
(b)
............................
7,572
144,126
IMCD
N.V.
.............................
6,997
822,740
Koninklijke
BAM
Groep
N.V.
.................
29,069
319,748
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
iShares
®
MSCI
Europe
Small-Cap
ETF
(Percentages
shown
are
based
on
Net
Assets)
4
Security
Shares
Value
a
Netherlands
(continued)
Koninklijke
Heijmans
N.V.
...................
2,946
$
298,069
Koninklijke
Vopak
N.V.
.....................
6,772
338,930
OCI
N.V.
(b)
.............................
12,281
51,995
Pharming
Group
N.V.
(b)
.....................
84,196
142,190
Pharvaris
N.V.
(b)
..........................
2,562
79,448
PostNL
N.V.
............................
41,295
46,032
SBM
Offshore
N.V.
........................
16,076
687,754
Signify
N.V.
(c)
............................
14,372
326,876
Sligro
Food
Group
N.V.
.....................
2,994
45,681
TKH
Group
N.V.
.........................
4,408
225,907
TomTom
N.V.
(b)
..........................
6,576
36,089
Van
Lanschot
Kempen
N.V.
..................
3,306
253,303
Wereldhave
N.V.
.........................
4,324
111,819
6,112,061
a
Norway
 — 
5
.5
%
Aker
ASA
,
Class
A
........................
2,670
309,517
Aker
Solutions
ASA
.......................
35,571
161,870
Atea
ASA
(b)
.............................
9,269
156,273
Austevoll
Seafood
ASA
.....................
11,011
111,452
Bakkafrost
P/F
..........................
5,940
296,208
BLUENORD
ASA
(b)
.......................
2,640
168,024
BW
LPG
Ltd.
(c)
...........................
11,212
224,005
BW
Offshore
Ltd.
.........................
10,460
59,386
Cadeler
A.S.
(b)
...........................
24,670
169,896
DNO
ASA
..............................
50,198
108,454
DOF
Group
ASA
.........................
17,602
261,046
Elkem
ASA
(b)
(c)
...........................
32,793
95,922
Elopak
ASA
............................
15,461
59,660
Entra
ASA
(c)
............................
5,323
60,442
Europris
ASA
(c)
..........................
18,887
192,851
Frontline
PLC
...........................
17,178
624,843
Hoegh
Autoliners
ASA
.....................
12,345
176,553
Kitron
ASA
.............................
25,648
276,841
Kongsberg
Maritime
A.S.
(b)
..................
51,894
340,109
Leroy
Seafood
Group
ASA
...................
31,215
153,098
LINK
Mobility
Group
Holding
ASA
(a)
(b)
............
30,973
82,709
MPC
Container
Ships
ASA
..................
43,323
103,048
NORBIT
ASA
...........................
4,149
102,240
Norconsult
Norge
A.S.
.....................
13,553
57,564
Nordic
Semiconductor
ASA
(b)
.................
21,340
438,580
Norwegian
Air
Shuttle
ASA
..................
61,934
97,097
Odfjell
Drilling
Ltd.
........................
14,052
150,763
Odfjell
SE
,
Class
A
........................
2,365
29,509
Paratus
Energy
Services
Ltd.
.................
9,521
52,822
Protector
Forsikring
ASA
....................
6,270
317,160
Public
Property
Invest
A.S.
..................
27,955
59,261
Scatec
ASA
(b)
(c)
..........................
14,976
194,783
SpareBank
1
Nord
Norge
...................
11,082
187,862
Sparebank
1
Oestlandet
....................
5,523
121,178
SpareBank
1
SMN
........................
15,363
342,922
SpareBank
1
Sor-Norge
ASA
.................
24,590
531,431
Stolt-Nielsen
Ltd.
.........................
2,674
87,164
Storebrand
ASA
..........................
48,927
945,806
Subsea
7
SA
............................
26,554
956,575
TGS
ASA
..............................
23,451
380,949
TOMRA
Systems
ASA
.....................
26,410
269,542
Vend
Marketplaces
ASA
....................
20,224
556,205
Wallenius
Wilhelmsen
ASA
,
Class
B
............
12,257
156,905
Wilh
Wilhelmsen
Holding
ASA
,
Class
A
..........
1,357
101,357
10,329,882
a
Portugal
 — 
0
.5
%
Altri
SGPS
SA
(a)
..........................
7,196
42,184
Corticeira
Amorim
SGPS
SA
.................
4,472
33,715
Security
Shares
Value
a
Portugal
(continued)
CTT-Correios
de
Portugal
SA
.................
9,163
$
68,934
Mota-Engil
SGPS
SA
(a)
.....................
11,232
63,728
Navigator
Co.
SA
(The)
.....................
25,182
99,019
NOS
SGPS
SA
..........................
24,254
160,160
REN
-
Redes
Energeticas
Nacionais
SGPS
SA
.....
43,056
190,761
Semapa-Sociedade
de
Investimento
e
Gestao
.....
1,998
54,403
Sonae
SGPS
SA
.........................
95,768
218,951
931,855
a
Singapore
 — 
0
.0
%
Jurong
Technologies
Industrial
Corp.
Ltd.
(b)
(d)
......
60,000
1
a
Spain
 — 
3
.4
%
Acerinox
SA
............................
22,048
361,846
Almirall
SA
.............................
8,921
132,057
Atresmedia
Corp.
de
Medios
de
Comunicacion
SA
..
11,897
72,407
CIE
Automotive
SA
........................
4,950
168,742
Cirsa
Enterprises
SA
......................
3,983
60,116
Colonial
SFL
Socimi
SA
....................
34,205
219,382
Construcciones
y
Auxiliar
de
Ferrocarriles
SA
......
2,274
171,199
Distribuidora
Internacional
de
Alimentacion
SA
(b)
....
1,786
82,487
eDreams
ODIGEO
SA
(a)
(b)
...................
10,556
43,113
Elecnor
SA
.............................
4,645
206,451
Enagas
SA
.............................
22,449
449,221
Ence
Energia
y
Celulosa
SA
(a)
(b)
...............
14,245
40,993
Fluidra
SA
.............................
11,608
271,646
Gestamp
Automocion
SA
(c)
..................
18,860
71,479
Grenergy
Renovables
SA
(b)
..................
1,731
245,416
HBX
Group
International
PLC
(b)
...............
8,712
71,182
Laboratorios
Farmaceuticos
Rovi
SA
............
2,122
198,349
Linea
Directa
Aseguradora
SA
Cia
de
Seguros
y
Reaseguros
...........................
66,757
93,236
Logista
Integral
SA
........................
7,252
283,322
Melia
Hotels
International
SA
.................
13,358
174,226
Merlin
Properties
Socimi
SA
.................
46,804
818,470
Neinor
Homes
SA
(c)
.......................
5,556
108,702
Pharma
Mar
SA
(b)
.........................
1,489
167,908
Prosegur
Cash
SA
(c)
.......................
39,030
29,958
Prosegur
Cia
de
Seguridad
SA
................
12,769
40,388
Sacyr
SA
..............................
62,854
346,008
Solaria
Energia
y
Medio
Ambiente
SA
(b)
..........
8,901
253,825
Tecnicas
Reunidas
SA
(b)
....................
5,370
222,514
Unicaja
Banco
SA
(c)
.......................
121,344
393,923
Vidrala
SA
.............................
2,761
249,072
Viscofan
SA
............................
4,462
314,210
6,361,848
a
Sweden
 — 
11
.4
%
AAK
AB
...............................
21,514
617,128
AcadeMedia
AB
(c)
.........................
8,615
92,376
AddLife
AB
,
Class
B
.......................
13,892
216,608
Addnode
Group
AB
,
Class
B
.................
14,954
77,727
AFRY
AB
..............................
11,526
140,684
Alimak
Group
AB
(c)
........................
8,289
97,858
Alleima
AB
.............................
22,603
202,512
Ambea
AB
(c)
............................
8,825
133,913
Apotea
AB
(a)
(b)
...........................
6,711
57,314
AQ
Group
AB
...........................
7,158
170,909
Arjo
AB
,
Class
B
.........................
24,731
65,281
Asker
Healthcare
Group
AB
(b)
.................
25,025
204,775
Asmodee
Group
AB
,
Class
B
(b)
................
18,427
247,283
Atrium
Ljungberg
AB
,
Class
B
................
31,166
100,086
Attendo
AB
(c)
............................
14,361
166,150
Avanza
Bank
Holding
AB
...................
14,912
539,043
Avarda
Bank
AB
.........................
3,188
57,777
iShares
®
MSCI
Europe
Small-Cap
ETF
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
(Percentages
shown
are
based
on
Net
Assets)
5
Schedule
of
Investments
Security
Shares
Value
a
Sweden
(continued)
Axfood
AB
.............................
12,703
$
387,856
Betsson
AB
,
Class
B
......................
13,475
137,045
Better
Collective
A.S.
(a)
(b)
....................
3,988
61,422
Bilia
AB
,
Class
A
.........................
7,216
98,165
Billerud
Aktiebolag
........................
26,488
182,082
BioArctic
AB
,
Class
B
(b)
(c)
....................
5,283
185,279
BioGaia
AB
,
Class
B
.......................
10,666
137,674
BoneSupport
Holding
AB
(b)
(c)
.................
6,576
158,760
Boozt
AB
(b)
(c)
............................
6,512
83,439
Bravida
Holding
AB
(c)
......................
24,104
249,061
Bufab
AB
..............................
15,533
199,530
Bure
Equity
AB
..........................
6,610
192,400
Camurus
AB
(b)
...........................
4,584
265,564
Castellum
AB
...........................
43,854
561,328
Catena
AB
.............................
5,308
250,390
Cibus
Real
Estate
AB
publ
...................
8,187
130,261
Clas
Ohlson
AB
,
Class
B
....................
4,580
197,630
Cloetta
AB
,
Class
B
.......................
22,141
113,526
Coffee
Stain
Group
AB
,
Class
B
(b)
..............
15,059
35,572
Corem
Property
Group
AB
,
Class
B
............
82,784
28,739
Creades
AB
,
Class
A
......................
6,099
46,980
Dios
Fastigheter
AB
.......................
12,145
83,711
Dometic
Group
AB
(b)
(c)
......................
37,500
126,723
Dynavox
Group
AB
(b)
......................
12,284
109,175
Electrolux
AB
,
Class
B
(b)
....................
25,453
142,304
Electrolux
Professional
AB
,
Class
B
............
26,184
131,696
Elekta
AB
,
Class
B
........................
44,029
255,713
Embracer
Group
AB
,
Class
B
(a)
(b)
..............
15,173
104,647
Engcon
AB
,
Class
B
.......................
4,904
35,514
Fabege
AB
.............................
23,254
195,376
FastPartner
AB
,
Class
A
....................
4,900
21,017
Getinge
AB
,
Class
B
.......................
27,089
545,352
Granges
AB
............................
12,324
231,857
Hacksaw
AB
............................
6,867
63,071
Hemnet
Group
AB
........................
10,171
131,851
Hexpol
AB
.............................
31,003
252,349
HMS
Networks
AB
........................
3,887
226,920
Hoist
Finance
AB
(c)
........................
5,651
86,974
Hufvudstaden
AB
,
Class
A
...................
13,480
179,524
Husqvarna
AB
,
Class
B
.....................
41,612
200,460
Instalco
AB
.............................
27,628
114,549
Intea
Fastigheter
AB
,
Class
B
(b)
...............
13,574
108,354
Intrum
AB
(b)
.............................
10,692
41,250
INVISIO
AB
.............................
4,337
125,620
Inwido
AB
..............................
6,788
103,638
JM
AB
................................
7,137
89,714
Kinnevik
AB
,
Class
B
(b)
.....................
28,683
165,173
Lagercrantz
Group
AB
,
Class
B
...............
23,694
626,552
Lindab
International
AB
.....................
8,772
145,133
Logistea
AB
,
Class
B
......................
38,553
58,460
Loomis
AB
.............................
8,020
371,607
Medcap
AB
(b)
............................
1,409
73,222
Medicover
AB
,
Class
B
.....................
8,109
182,244
Mildef
Group
AB
(a)
........................
4,682
87,780
Millicom
International
Cellular
SA
(b)
.............
11,856
1,006,337
MIPS
AB
..............................
3,251
96,387
Modern
Times
Group
MTG
AB
,
Class
B
(b)
.........
10,352
141,162
Munters
Group
AB
(c)
.......................
15,172
334,479
Mycronic
AB
............................
18,560
585,656
NCAB
Group
AB
(b)
........................
20,711
161,735
NCC
AB
,
Class
B
.........................
10,348
223,262
New
Wave
Group
AB
,
Class
B
................
11,422
120,173
NOBA
Bank
Group
AB
(b)
....................
20,518
188,007
Nolato
AB
,
Class
B
........................
22,436
120,530
Security
Shares
Value
a
Sweden
(continued)
Nordnet
AB
publ
.........................
16,257
$
535,846
Norion
Bank
AB
(b)
.........................
4,756
27,095
NP3
Fastigheter
AB
.......................
3,961
111,808
Nyfosa
AB
.............................
19,533
141,747
Pandox
AB
,
Class
B
.......................
12,714
233,273
Paradox
Interactive
AB
.....................
4,395
64,168
Peab
AB
,
Class
B
........................
20,147
195,736
Platzer
Fastigheter
Holding
AB
,
Class
B
.........
7,136
53,407
Plejd
AB
(b)
..............................
913
99,480
Polestar
Automotive
Holding
UK
PLC
,
Class
A
,
ADR
(a)
(b)
5,491
101,529
Ratos
AB
,
Class
B
........................
24,313
86,409
RaySearch
Laboratories
AB
..................
3,344
68,998
Rusta
AB
..............................
6,657
72,679
Samhallsbyggnadsbolaget
i
Norden
AB
(a)
(b)
........
123,930
45,101
Scandic
Hotels
Group
AB
(c)
..................
18,049
176,022
Sdiptech
AB
,
Class
B
(b)
.....................
3,692
90,453
Sectra
AB
,
Class
B
........................
16,188
450,436
Sinch
AB
(b)
(c)
............................
80,260
254,642
SkiStar
AB
.............................
4,377
75,883
SSAB
AB
,
Class
A
........................
25,798
232,187
SSAB
AB
,
Class
B
........................
74,812
681,148
Storskogen
Group
AB
,
Class
B
................
172,242
170,195
Storytel
AB
.............................
7,150
74,846
Sveafastigheter
AB
(b)
......................
7,125
26,009
Svolder
AB
,
Class
B
.......................
11,050
61,990
Sweco
AB
,
Class
B
.......................
25,313
345,997
Synsam
AB
.............................
14,045
86,544
Thule
Group
AB
(c)
.........................
12,703
317,303
Troax
Group
AB
..........................
4,424
50,983
Truecaller
AB
,
Class
B
.....................
34,985
45,660
VBG
Group
AB
,
Class
B
....................
2,039
74,540
Vimian
Group
AB
(b)
........................
24,978
81,432
Vitec
Software
Group
AB
,
Class
B
.............
4,014
111,284
Vitrolife
AB
.............................
8,686
98,946
Wallenstam
AB
,
Class
B
....................
44,886
190,882
Wihlborgs
Fastigheter
AB
...................
33,088
292,527
Xvivo
Perfusion
AB
(a)
(b)
.....................
2,939
88,235
Yubico
AB
(b)
............................
5,573
25,762
21,226,567
a
Switzerland
 — 
10
.0
%
Accelleron
Industries
AG
....................
11,158
1,195,466
Adecco
Group
AG
,
Registered
(a)
...............
19,931
459,310
Allreal
Holding
AG
,
Registered
................
1,769
483,097
ALSO
Holding
AG
,
Registered
................
680
140,233
ams-OSRAM
AG
(b)
........................
11,996
192,675
Aryzta
AG
(b)
.............................
2,789
223,193
Autoneum
Holding
AG
.....................
263
38,411
Bachem
Holding
AG
,
Class
B
.................
3,955
359,574
Basilea
Pharmaceutica
Ag
Allschwil
,
Registered
(b)
...
1,470
102,319
Bossard
Holding
AG
,
Class
A,
Registered
........
679
138,607
Bucher
Industries
AG
,
Registered
..............
781
310,132
Burckhardt
Compression
Holding
AG
...........
361
241,737
Burkhalter
Holding
AG
.....................
890
211,299
Bystronic
AG
............................
177
44,083
Cembra
Money
Bank
AG
....................
3,556
434,857
Cicor
Technologies
Ltd.
,
Registered
(b)
...........
296
52,187
Cie
Financiere
Tradition
SA
,
Bearer
............
232
87,308
Clariant
AG
,
Registered
(b)
...................
25,391
261,513
Comet
Holding
AG
,
Registered
................
876
347,309
Cosmo
N.V.
............................
963
101,290
Daetwyler
Holding
AG
,
Bearer
................
895
179,836
DKSH
Holding
AG
........................
4,188
319,708
dormakaba
Holding
AG
.....................
3,490
232,383
Dottikon
Es
Holding
AG
,
Registered
(b)
...........
417
182,811
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
iShares
®
MSCI
Europe
Small-Cap
ETF
(Percentages
shown
are
based
on
Net
Assets)
6
Security
Shares
Value
a
Switzerland
(continued)
EFG
International
AG
(b)
.....................
12,744
$
274,197
Emmi
AG
,
Registered
......................
252
263,722
Flughafen
Zurich
AG
,
Registered
..............
2,344
665,594
Forbo
Holding
AG
,
Registered
................
118
111,168
Galenica
AG
(c)
...........................
5,904
629,050
Georg
Fischer
AG
,
Registered
................
9,156
500,843
Hiag
Immobilien
Holding
AG
.................
522
91,125
Huber
+
Suhner
AG
,
Registered
...............
1,704
494,891
Idorsia
Ltd.
(a)
(b)
...........................
17,752
83,699
Implenia
AG
,
Registered
....................
1,837
144,979
Inficon
Holding
AG
,
Registered
................
2,004
370,941
Interroll
Holding
AG
,
Registered
...............
86
179,848
Intershop
Holding
AG
......................
686
148,903
Jungfraubahn
Holding
AG
...................
580
202,649
Kardex
Holding
AG
,
Registered
...............
728
260,105
Kuros
Biosciences
AG
,
Registered
(b)
............
3,250
84,683
Landis+Gyr
Group
AG
(b)
....................
3,124
209,506
Medacta
Group
SA
(c)
......................
832
150,779
Mobilezone
Holding
AG
,
Registered
............
4,477
83,344
Mobimo
Holding
AG
,
Registered
...............
876
418,184
Montana
Aerospace
AG
(b)
(c)
..................
3,706
97,441
OC
Oerlikon
Corp.
AG
Pfaffikon
,
Registered
.......
21,408
93,648
PolyPeptide
Group
AG
(b)
(c)
...................
1,797
87,965
PSP
Swiss
Property
AG
,
Registered
............
5,409
1,081,102
R&S
Group
Holding
AG
(b)
...................
3,490
117,208
Sensirion
Holding
AG
(b)
(c)
....................
1,123
97,234
SFS
Group
AG
..........................
2,043
311,260
Siegfried
Holding
AG
,
Registered
(b)
.............
4,570
460,920
SIG
Group
AG
(a)
(b)
........................
36,245
587,325
SKAN
Group
AG
.........................
1,480
86,374
SMG
Swiss
Marketplace
Group
AG
(c)
...........
2,874
102,473
Softwareone
Holding
AG
....................
19,426
171,904
Stadler
Rail
AG
(a)
.........................
6,393
186,766
Sulzer
AG
,
Registered
.....................
2,240
426,380
Sunrise
Communications
AG
,
Class
A
...........
8,047
480,544
Swissquote
Group
Holding
SA
,
Registered
........
1,271
643,239
Tecan
Group
AG
,
Registered
.................
1,526
230,884
Temenos
AG
,
Registered
...................
6,396
606,619
TX
Group
AG
...........................
364
57,767
Valiant
Holding
AG
,
Registered
...............
1,878
436,482
Vaudoise
Assurances
Holding
SA
..............
105
109,925
Vetropack
Holding
AG
,
Registered
.............
1,595
41,379
Vontobel
Holding
AG
,
Registered
..............
3,335
282,898
Ypsomed
Holding
AG
,
Registered
..............
476
166,300
Zehnder
Group
AG
,
Registered
...............
1,006
84,971
18,756,556
a
United
Kingdom
 — 
27
.4
%
4imprint
Group
PLC
.......................
3,370
167,104
Aberdeen
Group
PLC
......................
218,566
617,686
Advanced
Medical
Solutions
Group
PLC
.........
26,113
86,346
AG
Barr
PLC
............................
12,867
112,231
AJ
Bell
PLC
............................
40,477
286,411
Alfa
Financial
Software
Holdings
PLC
(c)
..........
15,551
31,742
AO
World
PLC
(b)
.........................
39,007
46,656
Ashmore
Group
PLC
......................
50,083
141,480
Aston
Martin
Lagonda
Global
Holdings
PLC
(a)
(b)
(c)
....
33,176
18,477
ATALAYA
MINING
COPPER
SA
...............
11,700
118,279
Avon
Technologies
PLC
....................
3,544
83,140
B&M
European
Value
Retail
PLC
..............
118,318
270,358
Babcock
International
Group
PLC
..............
29,726
447,830
Balfour
Beatty
PLC
.......................
58,414
649,085
Baltic
Classifieds
Group
PLC
.................
54,319
143,616
Beazley
PLC
............................
70,719
1,228,345
Bellway
PLC
............................
13,781
357,610
Security
Shares
Value
a
United
Kingdom
(continued)
Berkeley
Group
Holdings
PLC
(b)
...............
11,142
$
485,116
Big
Yellow
Group
PLC
.....................
22,022
270,297
Bodycote
PLC
...........................
20,846
193,590
Breedon
Group
PLC
.......................
32,467
135,366
Bridgepoint
Group
PLC
(c)
....................
29,276
99,372
British
Land
Co.
PLC
(The)
..................
121,142
641,019
Burberry
Group
PLC
(b)
.....................
42,728
678,015
Bytes
Technology
Group
PLC
................
25,634
105,063
C&C
Group
PLC
.........................
46,051
73,693
Carnival
PLC
...........................
16,351
433,750
Cerillion
PLC
............................
2,554
47,612
Chemring
Group
PLC
......................
32,104
228,038
Chesnara
PLC
..........................
27,023
112,521
Clarkson
PLC
...........................
3,507
230,781
Close
Brothers
Group
PLC
(b)
.................
17,632
106,215
CMC
Markets
PLC
(c)
.......................
11,050
55,334
Coats
Group
PLC
........................
224,593
253,966
Cohort
PLC
(a)
...........................
4,083
67,885
Computacenter
PLC
.......................
7,475
378,461
Convatec
Group
PLC
(c)
.....................
190,224
545,529
Craneware
PLC
..........................
3,305
68,538
Cranswick
PLC
..........................
6,112
448,281
Crest
Nicholson
Holdings
PLC
................
26,732
24,008
Croda
International
PLC
....................
15,734
610,265
Currys
PLC
.............................
116,747
198,103
CVS
Group
PLC
.........................
8,436
132,815
DCC
PLC
..............................
10,120
762,775
Derwent
London
PLC
......................
12,462
291,570
Diploma
PLC
...........................
15,830
1,498,141
DiscoverIE
Group
PLC
.....................
11,398
101,255
Domino's
Pizza
Group
PLC
..................
44,484
117,371
Dr
Martens
PLC
..........................
71,528
60,540
Drax
Group
PLC
.........................
39,854
479,188
Dunelm
Group
PLC
.......................
15,480
158,404
easyJet
PLC
............................
35,847
171,576
Elementis
PLC
..........................
67,828
136,599
Energean
PLC
..........................
16,406
199,469
Fevertree
Drinks
PLC
......................
11,735
129,743
Firstgroup
PLC
..........................
66,792
147,783
Foresight
Group
Holdings
Ltd.
................
9,542
52,002
Frasers
Group
PLC
(b)
......................
13,119
117,018
Future
PLC
.............................
10,621
48,242
Games
Workshop
Group
PLC
................
3,903
1,035,179
Gamma
Communications
PLC
................
10,805
132,973
GB
Group
PLC
..........................
28,756
83,151
Genuit
Group
PLC
........................
29,235
103,036
Genus
PLC
.............................
7,772
247,895
Georgia
Capital
PLC
(b)
.....................
3,462
184,442
GlobalData
PLC
(a)
........................
33,400
49,267
Grafton
Group
PLC
,
CDI
....................
20,337
242,310
Grainger
PLC
...........................
82,797
180,604
Great
Portland
Estates
PLC
..................
41,212
173,397
Greencore
Group
PLC
.....................
65,488
224,208
Greggs
PLC
............................
12,065
249,053
Hammerson
PLC
.........................
63,024
282,322
Harbour
Energy
PLC
......................
66,363
263,918
Hays
PLC
..............................
185,804
84,446
Helios
Towers
PLC
(b)
......................
92,912
252,607
Hikma
Pharmaceuticals
PLC
.................
19,514
371,019
Hill
&
Smith
PLC
.........................
9,445
330,304
Hilton
Food
Group
PLC
.....................
9,522
69,774
Hiscox
Ltd.
.............................
38,435
808,759
Hochschild
Mining
PLC
.....................
39,218
334,826
Hollywood
Bowl
Group
PLC
..................
18,893
65,428
iShares
®
MSCI
Europe
Small-Cap
ETF
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
(Percentages
shown
are
based
on
Net
Assets)
7
Schedule
of
Investments
Security
Shares
Value
a
United
Kingdom
(continued)
Home
REIT
PLC
(b)
........................
42,502
$
5,726
Howden
Joinery
Group
PLC
.................
63,881
673,963
Hunting
PLC
............................
15,450
106,800
Ibstock
PLC
(c)
...........................
45,396
63,317
ICG
PLC
..............................
34,392
847,925
IG
Group
Holdings
PLC
....................
40,105
820,230
IMI
PLC
...............................
29,167
1,110,915
Inchcape
PLC
...........................
39,050
439,020
IntegraFin
Holdings
PLC
....................
35,121
155,798
International
Workplace
Group
PLC
............
86,804
218,283
Investec
PLC
...........................
68,556
586,779
IP
Group
PLC
(b)
..........................
105,441
86,987
ITV
PLC
...............................
401,557
436,950
J
D
Wetherspoon
PLC
.....................
8,450
67,265
JET2
PLC
..............................
11,616
172,436
Johnson
Matthey
PLC
.....................
19,894
562,530
Johnson
Service
Group
PLC
.................
45,254
79,407
JTC
PLC
(c)
.............................
18,318
327,032
Jupiter
Fund
Management
PLC
...............
53,323
110,121
Kainos
Group
PLC
........................
9,830
111,223
Keller
Group
PLC
........................
8,226
250,047
Kier
Group
PLC
..........................
49,819
138,643
Lancashire
Holdings
Ltd.
....................
26,073
203,648
Lion
Finance
Group
PLC
....................
4,126
619,836
LondonMetric
Property
PLC
..................
264,083
679,770
Man
Group
PLC
.........................
136,489
471,618
Marshalls
PLC
...........................
25,669
45,757
ME
GROUP
INTERNATIONAL
PLC
............
26,686
53,160
Metro
Bank
Holdings
PLC
(b)
..................
38,660
78,489
Mitchells
&
Butlers
PLC
(b)
...................
31,741
108,627
Mitie
Group
PLC
.........................
149,575
353,742
Molten
Ventures
PLC
(b)
.....................
18,932
144,627
Mondi
PLC
.............................
52,383
541,190
MONY
Group
PLC
........................
58,370
141,221
Moonpig
Group
PLC
.......................
34,153
98,152
Morgan
Advanced
Materials
PLC
..............
32,554
96,791
Morgan
Sindall
Group
PLC
..................
5,333
339,912
MP
Evans
Group
PLC
.....................
4,593
112,374
NCC
Group
PLC
.........................
31,790
51,676
Ninety
One
PLC
.........................
32,275
94,714
Ocado
Group
PLC
(b)
.......................
64,709
174,966
OSB
Group
PLC
.........................
42,561
305,961
OXB
(b)
................................
9,990
81,563
Oxford
Instruments
PLC
....................
6,618
259,897
Oxford
Nanopore
Technologies
PLC
(b)
...........
51,496
78,660
Pagegroup
PLC
..........................
33,892
61,660
Pan
African
Resources
PLC
.................
238,132
454,738
Paragon
Banking
Group
PLC
.................
22,381
227,955
Pennon
Group
PLC
.......................
55,230
412,972
Persimmon
PLC
.........................
38,067
548,906
Pets
at
Home
Group
PLC
...................
53,800
131,775
Playtech
PLC
...........................
30,802
152,563
Plus500
Ltd.
............................
8,347
507,027
Polar
Capital
Holdings
PLC
..................
10,991
101,850
PPHE
Hotel
Group
Ltd.
.....................
2,692
55,255
Premier
Foods
PLC
.......................
76,765
206,513
Primary
Health
Properties
PLC
................
305,190
388,279
QinetiQ
Group
PLC
.......................
56,066
339,760
Quilter
PLC
(c)
............................
164,868
411,692
Rank
Group
PLC
.........................
21,953
28,469
Raspberry
PI
Holdings
PLC
(b)
.................
7,929
67,382
Rathbones
Group
PLC
.....................
7,569
202,281
Renew
Holdings
PLC
......................
9,320
114,774
Renishaw
PLC
..........................
4,321
278,350
Security
Shares
Value
a
United
Kingdom
(continued)
RHI
Magnesita
N.V.
.......................
2,522
$
90,986
Rightmove
PLC
..........................
90,643
534,566
Rotork
PLC
.............................
96,847
406,951
RS
GROUP
PLC
.........................
55,724
456,475
Safestore
Holdings
PLC
....................
25,897
235,575
Savills
PLC
.............................
16,358
184,083
Senior
PLC
.............................
50,101
194,639
Serco
Group
PLC
........................
117,591
450,274
Serica
Energy
PLC
.......................
31,464
122,854
Shaftesbury
Capital
PLC
....................
171,505
311,556
Shawbrook
Group
PLC
(b)
(c)
...................
15,237
67,165
SigmaRoc
PLC
(b)
.........................
117,782
197,561
Sirius
Real
Estate
Ltd.
.....................
178,985
243,797
Softcat
PLC
............................
15,254
286,412
Spire
Healthcare
Group
PLC
(c)
................
30,669
68,025
SSP
Group
PLC
.........................
92,162
199,276
St.
James's
Place
PLC
.....................
62,242
1,027,734
Supermarket
Income
REIT
PLC
...............
145,275
165,461
Target
Healthcare
REIT
PLC
.................
74,424
105,728
Tate
&
Lyle
PLC
..........................
44,371
221,647
Taylor
Wimpey
PLC
.......................
419,612
443,864
TBC
Bank
Group
PLC
.....................
4,911
324,108
Telecom
Plus
PLC
........................
8,426
134,148
THG
PLC
(b)
.............................
72,251
30,596
TP
ICAP
Group
PLC
......................
88,266
379,781
Trainline
PLC
(b)
(c)
.........................
46,568
150,941
Travis
Perkins
PLC
.......................
25,324
179,879
Tritax
Big
Box
REIT
PLC
....................
265,420
544,801
Trustpilot
Group
PLC
(b)
(c)
....................
42,181
149,464
TUI
AG
...............................
53,612
398,968
UNITE
Group
PLC
(The)
....................
51,201
322,657
Vesuvius
PLC
...........................
23,479
140,831
Victrex
PLC
............................
9,688
79,493
Vistry
Group
PLC
(b)
........................
37,480
167,279
Volex
PLC
.............................
16,832
136,738
Volution
Group
PLC
.......................
23,569
196,919
WAG
Payment
Solutions
PLC
................
24,358
38,249
Watches
of
Switzerland
Group
PLC
(b)
(c)
..........
25,916
181,384
Weir
Group
PLC
(The)
.....................
30,626
1,110,049
WH
Smith
PLC
..........................
14,897
104,649
Workspace
Group
PLC
.....................
16,926
77,710
WPP
PLC
..............................
128,036
463,563
XPS
Pensions
Group
PLC
...................
23,579
97,196
Yellow
Cake
PLC
(b)
(c)
.......................
28,266
233,573
Young
&
Co's
Brewery
PLC
,
Class
A
............
3,803
39,743
Zegona
Communications
PLC
................
21,952
524,056
Zigup
PLC
.............................
26,809
146,469
51,238,445
a
Total
Common
Stocks — 98.4%
(Cost:
$
189,614,097
)
................................
183,910,174
a
Preferred
Stocks
Germany
 — 
0
.5
%
Draegerwerk
AG
&
Co.
KGaA
,
Preference
Shares
,
NVS
1,045
110,432
FUCHS
SE
,
Preference
Shares
,
NVS
...........
7,792
367,449
Jungheinrich
AG
,
Preference
Shares
,
NVS
........
5,700
171,734
KSB
SE
&
Co.
KGaA
,
Preference
Shares
,
NVS
.....
83
92,906
Sixt
SE
,
Preference
Shares
,
NVS
..............
1,956
134,447
STO
SE
&
Co.
KGaA
,
Preference
Shares
,
NVS
....
287
34,636
911,604
a
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
iShares
®
MSCI
Europe
Small-Cap
ETF
(Percentages
shown
are
based
on
Net
Assets)
8
Security
Shares
Value
a
Italy
 — 
0
.1
%
Danieli
&
C
Officine
Meccaniche
SpA
,
Preference
Shares
,
NVS
..........................
4,233
$
238,207
a
Total
Preferred
Stocks — 0.6%
(Cost:
$
1,137,259
)
..................................
1,149,811
a
Rights
Netherlands
 — 
0
.0
%
Aalberts
N.V.
(b)
...........................
11,839
15,979
a
United
Kingdom
 — 
0
.0
%
Greencore
Group
CVR
(Expires
01/16/29
)
(b)
(d)
......
19,179
522
a
Total
Rights — 0.0%
(Cost:
$
16,484
)
....................................
16,501
a
Warrants
Italy
 — 
0
.0
%
Webuild
SpA
(Issued/Exercisable
08/02/21,
1
Share
for
1
Warrant,
Expires
08/31/30,
Strike
Price
EUR
0.01)
(a)
(b)
(d)
............................
5,910
—
a
Total
Warrants — 0.0%
(Cost:
$
–
)
........................................
—
a
Total
Long-Term
Investments — 99.0%
(Cost:
$
190,767,840
)
................................
185,076,486
Security
Shares
Value
a
Short-Term
Securities
Money
Market
Funds
 — 
4
.1
%
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
,
3.83
%
(e)
(f)
(g)
......................
7,576,565
$
7,578,838
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
,
3.61
%
(e)
(f)
.............................
70,079
70,079
a
Total
Short-Term
Securities — 4.1%
(Cost:
$
7,648,990
)
..................................
7,648,917
Total
Investments
—  103.1%
(Cost:
$
198,416,830
)
................................
192,725,403
Liabilities
in
Excess
of
Other
Assets
—
(
3
.1
)
%
...............
(
5,803,178
)
Net
Assets
—
100.0%
.................................
$
186,922,225
(a)
All
or
a
portion
of
this
security
is
on
loan.
(b)
Non-income
producing
security.
(c)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933,
as
amended.
These
securities
may
be
resold
in
transactions
exempt
from
registration
to
qualified
institutional
investors.
(d)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
(e)
Affiliate
of
the
Fund.
(f)
Annualized
7-day
yield
as
of
period
end.
(g)
All
or
a
portion
of
this
security
was
purchased
with
the
cash
collateral
from
loaned
securities.
Affiliates
Investments
in
issuers
considered
to
be
affiliate(s)
of
the
Fund
during
the
period
ended
April
30,
2026
for
purposes
of
Section
2(a)(3)
of
the
Investment
Company
Act
of
1940,
as
amended,
were
as
follows:
Affiliated
Issuer
Value
at
07/31/25
Purchases
at
Cost
Proceeds
from
Sale
s
Net
Realized
Gain
(Loss)
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
04/30/26
  Shares
Held
at
04/30/26
Income
  Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
$
5,016,418
‌
$
2,562,845
(a)
$
—
‌
$
(
352
)
$
(
73
)
$
7,578,838
‌
7,576,565
‌
$
75,280
(b)
$
—
‌
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
......
120,000
‌
—
‌
(
49,921
)
(a)
—
‌
—
‌
70,079
‌
70,079
‌
2,258
‌
—
‌
$
—
‌
$
(
352
)
$
(
73
)
$
7,648,917
‌
$
77,538
‌
$
—
‌
(a)
Represents
net
amount
purchased
(sold).
(b)
All
or
a
portion
represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
collateral
investment
fees,
and
other
payments
to
and
from
borrowers
of
securities.
iShares
®
MSCI
Europe
Small-Cap
ETF
Schedule
of
Investments
(unaudited)
(continued)
April
30,
2026
9
Schedule
of
Investments
Derivative
Financial
Instruments
Outstanding
as
of
Period
End
Fair
Value
Hierarchy
as
of
Period
End
Various
inputs
are
used
in
determining
the
fair
value
of
financial
instruments
at
the
measurement
date.
These
inputs
to
valuation
techniques
are
categorized
into
a
fair
value
hierarchy
consisting
of
three
broad
levels
for
financial
reporting
purposes
as
follows:
Level
1
–
Unadjusted
price
quotations
in
active
markets/exchanges
that
the
Fund
has
the
ability
to
access
for
identical
assets
or
liabilities;
Level
2
–
Inputs
other
than
quoted
prices
included
within
Level
1
that
are
observable
for
the
asset
or
liability,
either
directly
or
indirectly;
and
Level
3
–
Inputs
that
are
unobservable
and
significant
to
the
entire
fair
value
measurement
for
the
asset
or
liability
(including
the
Valuation
Committee’s
assumptions
used
in
determining
the
fair
value
of
financial
instruments).
The
hierarchy
gives
the
highest
priority
to
unadjusted
quoted
prices
in
active
markets
for
identical
assets
or
liabilities
(Level
1
measurements)
and
the
lowest
priority
to
unobservable
inputs
(Level
3
measurements).
Accordingly,
the
degree
of
judgment
exercised
in
determining
fair
value
is
greatest
for
instruments
categorized
in
Level
3.
The
inputs
used
to
measure
fair
value
may
fall
into
different
levels
of
the
fair
value
hierarchy.
In
such
cases,
for
disclosure
purposes,
the
fair
value
hierarchy
classification
is
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
Investments
classified
within
Level
3
have
significant
unobservable
inputs
used
by
the
Valuation
Committee
in
determining
the
price
for
Fair
Valued
Investments.
Level
3
investments
include
equity
or
debt
issued
by
privately
held
companies
or
funds
that may
not have
a
secondary
market
and/or may
have a
limited
number
of
investors.
The
categorization
of
a
value
determined
for
financial
instruments
is
based
on
the
pricing
transparency
of
the
financial
instruments
and
is
not
necessarily
an
indication
of
the
risks
associated
with
investing
in
those
securities.
For
information
about
the
Fund’s
policy
regarding
valuation
of
financial
instruments,
refer
to
its
most
recent
financial
statements.
The
following
table
summarizes
the
Fund’s
financial
instruments
categorized
in
the
fair
value
hierarchy.
The
breakdown
of
the
Fund’s
financial
instruments
into
major
categories
is
disclosed
in
the
Schedule
of
Investments
above. 
Futures
Contracts
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
(000)
Value/
Unrealized
Appreciation
(Depreciation)
Long
Contracts
FTSE
100
Index
......................................................................
6
06/19/26
$
849
$
6,991
Micro
Euro
STOXX
50
Index
..............................................................
155
06/19/26
1,062
24,253
$
31,244
Level
1
Level
2
Level
3
Total
Assets
Investments
Long-Term
Investments
Common
Stocks
.........................................
$
49,323,401
$
134,586,772
$
1
$
183,910,174
Preferred
Stocks
.........................................
367,449
782,362
—
1,149,811
Rights
................................................
—
15,979
522
16,501
Warrants
..............................................
—
—
—
—
Short-Term
Securities
Money
Market
Funds
......................................
7,648,917
—
—
7,648,917
$
57,339,767
$
135,385,113
$
523
$
192,725,403
Derivative
Financial
Instruments
(a)
Assets
Equity
Contracts
...........................................
$
31,244
$
—
$
—
$
31,244
(a)
Derivative
financial
instruments
are
futures
contracts.
Futures
contracts
are
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.
Portfolio
Abbreviation
ADR
American
Depositary
Receipt
CVR
Contingent
Value
Rights
NVS
Non-Voting
Shares
REIT
Real
Estate
Investment
Trust