NPORT-EX 2 NPORT_0BHX_10823966_1121.htm

Schedule of Investments (unaudited)

 iShares® MSCI Canada ETF
November 30, 2021 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Aerospace & Defense — 0.4%          
CAE Inc.(a)    582,570   $14,000,469 
           
Airlines — 0.1%          
Air Canada(a)    349,255    5,686,723 
           
Auto Components — 1.1%          
Magna International Inc.   566,313    42,447,430 
           
Banks — 24.9%          
Bank of Montreal   1,280,696    133,378,055 
Bank of Nova Scotia (The)   2,400,303    149,905,024 
Canadian Imperial Bank of Commerce   887,244    98,937,655 
National Bank of Canada   667,340    51,858,657 
Royal Bank of Canada   2,728,900    269,803,178 
Toronto-Dominion Bank (The)   3,481,062    245,659,509 
         949,542,078 
Capital Markets — 4.6%          
Brookfield Asset Management Inc., Class A   2,640,798    147,477,028 
IGM Financial Inc.   167,343    6,048,163 
Onex Corp.   151,843    11,032,970 
TMX Group Ltd.   111,904    10,859,712 
         175,417,873 
Chemicals — 2.0%          
Nutrien Ltd.   1,128,072    74,777,985 
           
Commercial Services & Supplies — 0.7%          
GFL Environmental Inc.   314,331    12,113,597 
Ritchie Bros Auctioneers Inc.   219,428    14,894,205 
         27,007,802 
Construction & Engineering — 0.8%          
WSP Global Inc.   232,462    32,334,865 
           
Containers & Packaging — 0.4%          
CCL Industries Inc., Class B, NVS   300,172    14,730,739 
           
Diversified Telecommunication Services — 0.7%      
BCE Inc.   145,798    7,337,550 
TELUS Corp.   885,536    20,241,615 
         27,579,165 
Electric Utilities — 2.1%          
Emera Inc.   503,842    23,148,058 
Fortis Inc.   929,199    40,195,340 
Hydro One Ltd.(b)    653,254    15,970,192 
         79,313,590 
Electrical Equipment — 0.2%          
Ballard Power Systems Inc.(a)(c)    478,495    7,285,395 
           
Equity Real Estate Investment Trusts (REITs) — 0.3%          
Canadian Apartment Properties REIT   168,275    7,490,013 
RioCan REIT   312,985    5,206,412 
         12,696,425 
Food & Staples Retailing — 3.6%          
Alimentation Couche-Tard Inc., Class B   1,674,409    61,342,785 
Empire Co. Ltd., Class A, NVS   340,744    9,770,600 
George Weston Ltd.   151,219    15,959,408 
Loblaw Companies Ltd.   343,593    25,901,606 
Metro Inc.   490,500    23,406,693 
         136,381,092 

Security  Shares   Value 
         
Food Products — 0.3%          
Saputo Inc.   492,883   $10,911,371 
           
Gas Utilities — 0.3%          
AltaGas Ltd.   556,621    10,588,195 
           
Hotels, Restaurants & Leisure — 0.8%          
Restaurant Brands International Inc.   546,942    30,599,980 
           
Independent Power and Renewable Electricity Producers — 0.6% 
Brookfield Renewable Corp., Class A   256,661    9,543,542 
Northland Power Inc.   447,782    13,404,191 
         22,947,733 
Insurance — 6.8%          
Fairfax Financial Holdings Ltd.   53,677    23,822,596 
Great-West Lifeco Inc.   552,580    16,039,505 
iA Financial Corp. Inc.   213,836    11,362,627 
Intact Financial Corp.   348,483    43,243,591 
Manulife Financial Corp.   3,844,121    68,730,458 
Power Corp. of Canada   1,109,271    35,784,616 
Sun Life Financial Inc.   1,159,184    61,550,316 
         260,533,709 
IT Services — 10.0%          
CGI Inc.(a)    445,312    37,202,002 
Nuvei Corp.(a)(b)   113,165    11,143,313 
Shopify Inc., Class A(a)    217,899    331,088,102 
         379,433,417 
Media — 0.9%          
Quebecor Inc., Class B   336,327    7,485,049 
Shaw Communications Inc., Class B, NVS   909,282    26,336,400 
         33,821,449 
Metals & Mining — 7.8%          
Agnico Eagle Mines Ltd.   481,880    24,021,385 
Barrick Gold Corp.   3,522,246    66,945,973 
First Quantum Minerals Ltd.   1,164,508    24,822,539 
Franco-Nevada Corp.   377,568    51,776,870 
Ivanhoe Mines Ltd., Class A(a)(c)    1,202,061    9,541,586 
Kinross Gold Corp.   2,506,479    14,872,684 
Kirkland Lake Gold Ltd.   530,604    20,979,927 
Lundin Mining Corp.   1,320,048    10,364,461 
Pan American Silver Corp.   420,926    10,751,744 
Teck Resources Ltd., Class B   936,233    24,830,384 
Wheaton Precious Metals Corp.   890,756    37,249,353 
         296,156,906 
Multi-Utilities — 0.6%          
Algonquin Power & Utilities Corp.   1,333,415    18,047,474 
Canadian Utilities Ltd., Class A, NVS   259,317    6,962,756 
         25,010,230 
Multiline Retail — 1.1%          
Canadian Tire Corp. Ltd., Class A, NVS   113,933    15,058,474 
Dollarama Inc.   584,529    25,248,981 
         40,307,455 
Oil, Gas & Consumable Fuels — 14.2%          
Cameco Corp.   790,665    18,438,225 
Canadian Natural Resources Ltd.   2,343,042    95,816,286 
Cenovus Energy Inc.   2,603,231    30,893,563 
Enbridge Inc.   4,010,380    150,469,696 
Imperial Oil Ltd.   511,455    16,907,703 
Keyera Corp.   441,828    9,705,032 
Parkland Corp.   299,828    7,740,677 


 

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Schedule of Investments (unaudited) (continued)

 iShares® MSCI Canada ETF
November 30, 2021 (Percentages shown are based on Net Assets)

  

Security  Shares   Value 
         
Oil, Gas & Consumable Fuels (continued)          
Pembina Pipeline Corp.   1,089,750   $32,245,920 
Suncor Energy Inc.   3,021,323    73,602,545 
TC Energy Corp.   1,933,681    90,701,135 
Tourmaline Oil Corp.   408,107    13,580,671 
         540,101,453 
Paper & Forest Products — 0.4%          
West Fraser Timber Co. Ltd.   190,009    15,623,739 
           
Pharmaceuticals — 0.5%          
Bausch Health Cos Inc.(a)    604,325    14,343,524 
Canopy Growth Corp.(a)(c)    456,006    4,897,571 
         19,241,095 
Professional Services — 1.1%          
Thomson Reuters Corp.   344,457    41,215,118 
           
Real Estate Management & Development — 0.4%      
FirstService Corp.   78,219    15,034,556 
           
Road & Rail — 7.4%          
Canadian National Railway Co.   1,406,452    178,205,269 
Canadian Pacific Railway Ltd.   1,320,337    92,401,368 
TFI International Inc.   96,731    9,604,572 
         280,211,209 
Software — 3.0%          
BlackBerry Ltd.(a)    1,073,872    10,230,555 
Constellation Software Inc.   39,888    67,872,830 
Lightspeed Commerce Inc.(a)    210,962    10,671,545 
Open Text Corp.   541,516    25,671,618 
         114,446,548 
Textiles, Apparel & Luxury Goods — 0.4%          
Gildan Activewear Inc.   394,289    15,972,802 
           
Trading Companies & Distributors — 0.4%          
Toromont Industries Ltd.   164,538    13,820,445 
Security  Shares   Value 
         
Wireless Telecommunication Services — 0.8%      
Rogers Communications Inc., Class B, NVS   701,872   $31,405,537 
           
Total Common Stocks — 99.7%          
(Cost: $3,720,345,761)        3,796,584,578 
           
Short-Term Investments          
           
Money Market Funds — 0.4%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(d)(e)(f)   15,422,368    15,428,537 
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(e)    1,890,000    1,890,000 
         17,318,537 
Total Short-Term Investments — 0.4%          
(Cost: $17,319,870)        17,318,537 
           
Total Investments in Securities — 100.1%          
(Cost: $3,737,665,631)        3,813,903,115 
           
Other Assets, Less Liabilities — (0.1)%        (5,684,869)
           
Net Assets — 100.0%       $3,808,218,246 

 

(a)Non-income producing security.

(b)Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(c)All or a portion of this security is on loan.
(d)Affiliate of the Fund.

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

(f)All or a portion of this security was purchased with the cash collateral from loaned securities.


 

Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended November 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer  Value at
08/31/21		   Purchases
at Cost		   Proceeds
from Sales		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
11/30/21		   Shares
Held at
11/30/21		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Institutional, SL Agency Shares  $9,373,472   $6,056,872(a)   $—   $(474)  $(1,333)  $15,428,537    15,422,368   $8,041(b)   $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   1,600,000    290,000(a)    —    —    —    1,890,000    1,890,000    25    — 
                  $(474)  $(1,333)  $17,318,537        $8,066   $— 

 

(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 fees and collateral investment expenses, and other payments to and from borrowers of securities.

 

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Schedule of Investments (unaudited) (continued)

 iShares® MSCI Canada ETF
November 30, 2021  

 

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                  
S&P/TSE 60 Index   49   12/16/21  $9,559   $129,119 

 

Fair Value Measurements

 

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 BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global 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 
Investments                
Assets                
Common Stocks.  $3,796,584,578   $—   $—   $3,796,584,578 
Money Market Funds   17,318,537    —    —    17,318,537 
   $3,813,903,115   $—   $—   $3,813,903,115 
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $129,119   $—   $—   $129,119 

 

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

 

Portfolio Abbreviations - Equity

 

NVSNon-Voting Shares

REITReal Estate Investment Trust

 

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