NPORT-EX 2 NPORT_2QND_60172740_0524.htm

 

Schedule of Investments (unaudited) iShares® Currency Hedged MSCI Japan ETF
May 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Investment Companies          
           
Exchange-Traded Funds — 99.9%          
iShares MSCI Japan ETF(a)   5,466,468   $377,022,298 
           
Total Investment Companies          
(Cost: $371,404,123)        377,022,298 
           
Short-Term Securities          
           
Money Market Funds — 0.0%          
BlackRock Cash Funds: Treasury, SL Agency Shares,          
5.28%(a)(b)   200,000    200,000 
           
Total Short-Term Securities — 0.0%          
(Cost: $200,000)        200,000 
           
Total Investments in Securities — 99.9%          
(Cost: $371,604,123)        377,222,298 
           
Other Assets Less Liabilities — 0.1%        252,625 
           
Net Assets — 100.0%       $377,474,923 

 

(a)Affiliate of the Fund.

(b)Annualized 7-day yield as of period end.

Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer  Value at
08/31/23		   Purchases
at Cost		   Proceeds
from Sales		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
05/31/24		   Shares
Held at
05/31/24		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Institutional, SL Agency Shares(a)  $—   $7(b)   $—   $(7)  $—   $—    —   $13,702(c)   $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   100,000    100,000(b)    —    —    —    200,000    200,000    7,776    — 
iShares MSCI Japan ETF   215,596,625    354,107,460    (219,635,382)   5,356,839    21,596,756    377,022,298    5,466,468    2,934,065    — 
                  $5,356,832   $21,596,756   $377,222,298        $2,955,543   $— 

 

(a)As of period end, the entity is no longer held.

(b)Represents net amount purchased (sold).

(c)All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

 

Derivative Financial Instruments Outstanding as of Period End

 

Forward Foreign Currency Exchange Contracts

 

                    Unrealized 
                    Appreciation 
Currency Purchased  Currency Sold   Counterparty  Settlement Date  (Depreciation) 
USD  63,174  JPY   9,842,000   Bank of America N.A.  06/03/24  $591 
USD  351,601,319  JPY   55,064,423,238   BNP Paribas SA  06/03/24   1,463,506 
USD  18,743,260  JPY   2,913,141,000   JPMorgan Chase Bank N.A.  06/03/24   219,488 
USD  15,992,068  JPY   2,463,199,000   UBS AG  06/03/24   329,340 
USD  367,255,094  JPY   57,475,422,238   BNP Paribas SA  07/01/24   283,787 
USD  627,223  JPY   98,216,000   JPMorgan Chase Bank N.A.  07/01/24   130 
USD  2,808,107  JPY   439,474,000   Toronto Dominion Bank  07/01/24   2,136 
                     2,298,978 
JPY  681,939,000  USD   4,357,128   Bank of New York  06/03/24   (20,887)

 

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Schedule of Investments (unaudited) (continued) iShares® Currency Hedged MSCI Japan ETF
May 31, 2024

 

 

Forward Foreign Currency Exchange Contracts (continued)

 

                   Unrealized 
                   Appreciation 
Currency Purchased  Currency Sold  Counterparty  Settlement Date  (Depreciation) 
JPY  57,475,422,238  USD   365,692,315   BNP Paribas SA  06/03/24  $(223,696)
JPY  20,187,000  USD   130,237   HSBC Bank PLC  06/03/24   (1,874)
JPY  649,440,000  USD   4,188,058   JPMorgan Chase Bank N.A.  06/03/24   (58,467)
JPY  1,298,660,000  USD   8,361,421   Toronto Dominion Bank  06/03/24   (103,640)
JPY  324,957,000  USD   2,127,730   UBS AG  06/03/24   (61,428)
                     (469,992)
                    $1,828,986 

 

Fair Value Hierarchy as of Period End

 

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

●Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

 

●Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and

 

●Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (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. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

 

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

 

   Level 1   Level 2   Level 3   Total 
Assets                
Investments                
Long-Term Investments                    
Investment Companies  $377,022,298   $—   $—   $377,022,298 
Short-Term Securities                    
Money Market Funds   200,000    —    —    200,000 
   $377,222,298   $—   $—   $377,222,298 
Derivative Financial Instruments(a)                    
Assets                    
Foreign Currency Exchange Contracts  $—   $2,298,978   $—   $2,298,978 
Liabilities                    
Foreign Currency Exchange Contracts   —    (469,992)   —    (469,992)
   $—   $1,828,986   $—   $1,828,986 

 

(a)Derivative financial instruments are forward foreign currency exchange contracts. Forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

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Schedule of Investments (unaudited) (continued) iShares® Currency Hedged MSCI Japan ETF
May 31, 2024

 

Currency Abbreviation

 

JPY Japanese Yen
USD United States Dollar

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