NPORT-EX 2 NPORT_2Q2Q_88425494_0524.htm

 

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

 

Security  Shares   Value 
         
Common Stocks          
           
Aerospace & Defense — 1.8%          
Bharat Electronics Ltd.   27,751,208   $98,637,207 
Hindustan Aeronautics Ltd., NVS   1,523,316    90,801,580 
         189,438,787 
Automobile Components — 1.9%          
Balkrishna Industries Ltd.   587,087    21,487,994 
Bharat Forge Ltd.   1,944,282    36,236,019 
Bosch Ltd.   54,729    19,928,054 
MRF Ltd.   17,658    26,560,841 
Samvardhana Motherson International Ltd.   20,537,355    37,355,830 
Sona Blw Precision Forgings Ltd.(a)   3,117,018    24,353,131 
Tube Investments of India Ltd.   807,611    34,629,695 
         200,551,564 
Automobiles — 7.3%          
Bajaj Auto Ltd.   508,804    55,414,349 
Eicher Motors Ltd.   1,039,431    58,998,166 
Hero MotoCorp Ltd.   910,743    55,940,730 
Mahindra & Mahindra Ltd.   7,081,485    212,651,835 
Maruti Suzuki India Ltd.   1,074,187    159,830,960 
Tata Motors Ltd.   12,618,335    139,786,492 
Tata Motors Ltd., Class A   3,474,987    25,808,939 
TVS Motor Co. Ltd.   1,803,587    47,156,280 
         755,587,751 
Banks — 16.3%          
AU Small Finance Bank Ltd.(a)   2,737,901    21,459,641 
Axis Bank Ltd.   16,953,698    236,354,988 
Bandhan Bank Ltd.(a)   5,844,356    13,207,291 
Bank of Baroda   7,853,313    24,990,156 
Canara Bank   13,465,248    19,035,288 
HDFC Bank Ltd.   21,342,332    392,033,855 
ICICI Bank Ltd.   39,108,126    525,653,747 
IDFC First Bank Ltd.(b)   26,304,306    24,121,397 
IndusInd Bank Ltd.   2,186,616    38,336,993 
Kotak Mahindra Bank Ltd.   8,301,770    167,397,515 
Punjab National Bank.   16,721,544    25,984,297 
State Bank of India   13,552,730    135,031,731 
Union Bank of India Ltd.   11,623,899    22,345,410 
Yes Bank Ltd.(b)   107,400,532    29,648,258 
         1,675,600,567 
Beverages — 0.9%          
United Spirits Ltd.   2,209,117    30,757,955 
Varun Beverages Ltd.   3,453,127    59,083,630 
         89,841,585 
Building Products — 0.3%          
Astral Ltd.   1,019,782    25,651,044 
           
Capital Markets — 0.3%          
HDFC Asset Management Co. Ltd.(a)   729,414    33,963,887 
           
Chemicals — 2.6%          
Asian Paints Ltd.   2,913,178    100,749,637 
PI Industries Ltd.   576,894    24,499,659 
Pidilite Industries Ltd.   1,158,481    41,252,422 
Solar Industries India Ltd.   195,651    21,963,822 
SRF Ltd.   1,125,332    29,864,181 
Supreme Industries Ltd.   482,236    30,564,428 
UPL Ltd.   3,419,624    20,856,678 
         269,750,827 
Commercial Services & Supplies — 0.2%          
Indian Railway Catering & Tourism Corp. Ltd.   1,822,310    22,312,193 

Security  Shares   Value 
         
Construction & Engineering — 2.2%          
Larsen & Toubro Ltd.   5,114,464   $225,087,868 
           
Construction Materials — 2.1%          
Ambuja Cements Ltd.   4,522,932    34,368,414 
Grasim Industries Ltd.   1,999,867    55,620,488 
Shree Cement Ltd.   68,478    20,252,247 
UltraTech Cement Ltd.   876,760    104,249,677 
         214,490,826 
Consumer Finance — 3.3%          
Bajaj Finance Ltd.   2,114,882    169,786,045 
Cholamandalam Investment and Finance Co. Ltd.   3,188,891    47,474,205 
Muthoot Finance Ltd.   914,432    18,469,469 
SBI Cards & Payment Services Ltd.   2,166,172    17,988,282 
Shriram Finance Ltd.   2,139,993    60,452,470 
Sundaram Finance Ltd.   438,301    22,513,589 
         336,684,060 
Consumer Staples Distribution & Retail — 0.6%          
Avenue Supermarts Ltd.(a)(b)   1,235,213    63,748,105 
           
Diversified Telecommunication Services — 0.4%          
Indus Towers Ltd.(b)   6,000,891    25,029,099 
Tata Communications Ltd.   865,525    18,467,192 
         43,496,291 
Electric Utilities — 2.1%          
Power Grid Corp. of India Ltd.   35,309,316    131,385,537 
Tata Power Co. Ltd. (The)   10,917,803    57,250,025 
Torrent Power Ltd.   1,248,570    22,464,051 
         211,099,613 
Electrical Equipment — 2.1%          
ABB India Ltd.   402,183    40,071,356 
Bharat Heavy Electricals Ltd.   7,932,022    28,477,901 
CG Power and Industrial Solutions Ltd.   4,638,627    35,748,934 
Havells India Ltd.   1,903,337    43,486,142 
Polycab India Ltd.   398,273    32,267,459 
Suzlon Energy Ltd.(b)   69,555,882    39,854,047 
         219,905,839 
Financial Services — 2.9%          
Bajaj Finserv Ltd.   2,907,437    53,314,447 
Bajaj Holdings & Investment Ltd.   202,770    19,331,220 
Jio Financial Services Ltd., NVS(b)   21,707,952    89,741,809 
Power Finance Corp. Ltd.   11,275,801    66,679,785 
REC Ltd.   9,996,895    64,527,803 
         293,595,064 
Food Products — 2.0%          
Britannia Industries Ltd.(b)   822,944    51,118,621 
Marico Ltd.   3,930,476    28,024,311 
Nestle India Ltd., NVS   2,562,237    72,309,747 
Tata Consumer Products Ltd.   4,340,828    55,219,423 
         206,672,102 
Gas Utilities — 0.4%          
GAIL India Ltd.   17,473,803    42,861,742 
Indraprastha Gas Ltd.   9,042    47,971 
         42,909,713 
Ground Transportation — 0.2%          
Container Corp. of India Ltd.   1,850,507    23,883,698 
           
Health Care Providers & Services — 1.0%          
Apollo Hospitals Enterprise Ltd.   764,194    53,544,118 
Max Healthcare Institute Ltd.   5,903,638    53,266,535 
         106,810,653 


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

 

Security  Shares   Value 
         
Hotels, Restaurants & Leisure — 1.6%          
Indian Hotels Co. Ltd., Class A   6,484,464   $43,400,519 
Jubilant Foodworks Ltd.   2,759,799    16,360,252 
Zomato Ltd.(b)   50,159,426    107,938,128 
         167,698,899 
Independent Power and Renewable Electricity Producers — 2.9%          
Adani Green Energy Ltd.(b)   2,405,471    55,147,856 
Adani Power Ltd.(b)   5,857,145    53,174,307 
JSW Energy Ltd.   2,594,536    19,053,873 
NHPC Ltd., NVS.   19,435,805    24,972,551 
NTPC Ltd.   33,131,666    142,618,646 
         294,967,233 
Industrial Conglomerates — 0.6%          
Siemens Ltd.   675,931    56,504,360 
           
Insurance — 1.8%          
HDFC Life Insurance Co. Ltd.(a)   7,349,525    48,477,030 
ICICI Lombard General Insurance Co. Ltd.(a)   1,685,900    31,982,423 
ICICI Prudential Life Insurance Co. Ltd.(a)   2,663,465    17,430,520 
PB Fintech Ltd.(b)   2,176,117    33,745,342 
SBI Life Insurance Co. Ltd.(a)   3,421,835    56,871,152 
         188,506,467 
Interactive Media & Services — 0.4%          
Info Edge India Ltd.   540,291    36,924,454 
           
IT Services — 10.1%          
HCL Technologies Ltd.   7,211,280    114,644,272 
Infosys Ltd.   25,213,681    427,399,954 
LTIMindtree Ltd.(a)   674,565    38,080,719 
Mphasis Ltd.   573,941    15,743,985 
Persistent Systems Ltd., NVS   760,272    31,077,212 
Tata Consultancy Services Ltd.   6,867,895    302,647,010 
Tech Mahindra Ltd.   4,078,985    60,280,806 
Wipro Ltd.   9,918,475    52,089,129 
         1,041,963,087 
Life Sciences Tools & Services — 0.5%          
Divi’s Laboratories Ltd.   907,067    46,858,268 
           
Machinery — 0.8%          
Ashok Leyland Ltd.   11,147,870    29,964,727 
Cummins India Ltd.   1,052,372    44,866,851 
Thermax Ltd.   169,971    11,005,391 
         85,836,969 
Metals & Mining — 3.8%          
APL Apollo Tubes Ltd.   1,264,339    22,789,409 
Hindalco Industries Ltd.   10,237,693    84,812,868 
Jindal Stainless Ltd.   1,918,000    18,233,020 
Jindal Steel & Power Ltd.   2,710,783    33,431,208 
JSW Steel Ltd.   4,641,970    49,072,758 
NMDC Ltd.   7,788,462    24,345,067 
Tata Steel Ltd.   56,857,422    114,051,283 
Vedanta Ltd.   8,443,293    45,461,506 
         392,197,119 
Oil, Gas & Consumable Fuels — 10.4%          
Bharat Petroleum Corp. Ltd.   5,764,733    43,385,922 
Coal India Ltd.   11,698,237    68,897,639 
Hindustan Petroleum Corp. Ltd.   4,308,424    27,742,999 
Indian Oil Corp. Ltd.   21,444,664    41,768,164 
Oil & Natural Gas Corp. Ltd.   23,916,579    75,948,838 

Security  Shares   Value 
         
Oil, Gas & Consumable Fuels (continued)          
Petronet LNG Ltd.   5,694,678   $20,323,990 
Reliance Industries Ltd.   23,117,091    793,052,223 
         1,071,119,775 
Passenger Airlines — 0.6%          
InterGlobe Aviation Ltd.(a)(b)   1,318,804    66,183,637 
           
Personal Care Products — 2.7%          
Colgate-Palmolive India Ltd.   1,032,591    32,896,765 
Dabur India Ltd.   4,047,827    26,435,960 
Godrej Consumer Products Ltd.   3,106,413    47,376,386 
Hindustan Unilever Ltd.   6,244,038    174,269,775 
         280,978,886 
Pharmaceuticals — 3.5%          
Aurobindo Pharma Ltd.   2,002,037    28,461,752 
Cipla Ltd.   3,984,606    69,216,431 
Dr. Reddy’s Laboratories Ltd.   886,559    61,584,521 
Lupin Ltd.   1,729,900    32,843,935 
Mankind Pharma Ltd.(b)   743,311    19,054,461 
Sun Pharmaceutical Industries Ltd.   7,287,161    127,623,240 
Torrent Pharmaceuticals Ltd.   770,930    24,932,103 
         363,716,443 
Real Estate Management & Development — 1.5%          
DLF Ltd.   5,638,371    55,229,561 
Godrej Properties Ltd.(b)   950,008    31,736,048 
Macrotech Developers Ltd.   2,257,817    37,325,484 
Phoenix Mills Ltd. (The)   729,502    27,089,577 
         151,380,670 
Software — 0.2%          
Tata Elxsi Ltd.   260,035    21,678,418 
           
Specialty Retail — 0.7%          
Trent Ltd.   1,376,543    75,300,242 
           
Textiles, Apparel & Luxury Goods — 1.2%          
Page Industries Ltd.   46,544    20,081,627 
Titan Co. Ltd.   2,696,301    104,916,278 
         124,997,905 
Tobacco — 1.1%          
ITC Ltd.   22,750,593    116,343,917 
           
Trading Companies & Distributors — 0.5%          
Adani Enterprises Ltd.   1,298,321    53,121,745 
           
Transportation Infrastructure — 0.9%          
Adani Ports & Special Economic Zone Ltd.   4,009,738    69,187,198 
GMR Airports Infrastructure Ltd.(b)   18,332,959    18,620,650 
         87,807,848 
Wireless Telecommunication Services — 2.8%          
Bharti Airtel Ltd.   17,214,912    283,475,361 
           
Total Investments — 99.5%          
(Cost: $6,401,356,202)       10,258,643,740 
           
Other Assets Less Liabilities — 0.5%       53,699,551 
           
Net Assets—100.0%      $10,312,343,291 

 

(a)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.

(b)Non-income producing security.


2 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI India ETF
May 31, 2024  

 

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: Treasury, SL Agency Shares(a)  $   $0(b)   $   $    —   $    —   $      —   $6,250,473   $   — 

 

(a)As of period end, the entity is no longer held.
(b)Represents net amount purchased (sold)

 

Derivative Financial Instruments Outstanding as of Period End

 

Futures Contracts

  

Description  Number of
Contracts
   Expiration
Date
  Notional
Amount
(000)
  

Value/

Unrealized
Appreciation (Depreciation)

 
Long Contracts                  
IFSC Nifty 50 Index   895   06/27/24  $40,672   $(4,506)

 

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                    
Common Stocks  $132,233,854   $10,126,409,886   $   $10,258,643,740 

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Schedule of Investments (unaudited) (continued) iShares® MSCI India ETF
May 31, 2024  

 

Fair Value Hierarchy as of Period End (continued)

 

   Level 1   Level 2   Level 3   Total 
Derivative Financial Instruments(a)                    
Liabilities                    
Equity Contracts  $   $(4,506)  $   $(4,506)

 

(a)Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

Portfolio Abbreviation

 

NVS Non-Voting Shares

4