NPORT-EX 2 NPORT_2Q1R_44143308_1121.htm

 

Schedule of Investments (unaudited) iShares® MSCI Global Silver and Metals Miners ETF
November 30, 2021 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Canada — 66.8%          
Agnico Eagle Mines Ltd.   125,300   $6,246,118 
Aya Gold & Silver Inc.(a)   757,271    5,762,006 
Dundee Precious Metals Inc.   375,561    2,390,161 
Eldorado Gold Corp.(a)   319,618    2,874,798 
Endeavour Silver Corp.(a)(b)   1,722,883    8,186,543 
First Majestic Silver Corp.   1,966,898    23,434,332 
Fortuna Silver Mines Inc.(a)   2,783,376    9,695,897 
GoGold Resources Inc.(a)   2,693,537    6,873,796 
Kinross Gold Corp.   672,248    3,988,915 
Lundin Gold Inc.(a)   137,609    1,121,382 
MAG Silver Corp.(a)(b)   645,724    10,746,481 
New Gold Inc.(a)   1,264,663    1,841,382 
Orla Mining Ltd.(a)   291,977    1,250,236 
Pan American Silver Corp.   1,905,853    48,681,344 
Seabridge Gold Inc.(a)   127,799    2,469,043 
Silvercorp Metals Inc.   1,799,631    7,269,244 
SilverCrest Metals Inc.(a)(b)   1,377,559    11,657,140 
SSR Mining Inc.   219,195    3,979,124 
Victoria Gold Corp.(a)(b)   80,310    1,011,537 
Wheaton Precious Metals Corp.   227,166    9,499,556 
Yamana Gold Inc.   564,616    2,254,133 
         171,233,168 
Japan — 4.5%          
Asahi Holdings Inc.   691,300    11,618,642 
           
Mexico — 4.8%          
Industrias Penoles SAB de CV   1,009,986    12,382,662 
           
Peru — 0.5%          
Cia. de Minas Buenaventura SAA, ADR(a)   165,956    1,213,138 
           
Russia — 1.4%          
Polymetal International PLC   192,496    3,602,527 
           
South Africa — 0.6%          
Harmony Gold Mining Co. Ltd.   369,108    1,580,490 
Security  Shares   Value 
         
United Kingdom — 0.7%          
Hochschild Mining PLC   659,770   $1,156,494 
SolGold PLC(a)(b)   1,842,558    559,941 
         1,716,435 
United States — 20.3%          
Coeur Mining Inc.(a)(b)   468,769    2,625,106 
Gatos Silver Inc.(a)   429,419    5,801,451 
Hecla Mining Co.   4,622,143    25,606,672 
Newmont Corp.   324,854    17,840,982 
         51,874,211 
Total Common Stocks — 99.6%          
(Cost: $262,763,433)        255,221,273 
           
Short-Term Investments          
           
Money Market Funds — 3.8%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.06%(c)(d)(e)   9,677,266    9,681,137 
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(c)(d)   140,000    140,000 
         9,821,137 
Total Short-Term Investments — 3.8%          
(Cost: $9,815,954)        9,821,137 
           
Total Investments in Securities — 103.4%          
(Cost: $272,579,387)        265,042,410 
           
Other Assets, Less Liabilities — (3.4)%        (8,691,776)
           
Net Assets — 100.0%       $256,350,634 

 

(a)Non-income producing security.

(b)All or a portion of this security is on loan.

(c)Affiliate of the Fund.

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

(e)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  $22,991,219   $—   $(13,308,668)(a)  $(508)  $(906)  $9,681,137    9,677,266   $80,217(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   140,000    —    0(a)   —    —    140,000    140,000    1    — 
                  $(508)  $(906)  $9,821,137        $80,218   $— 

 

(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 Global Silver and Metals Miners ETF
November 30, 2021

 

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  $238,419,614   $16,801,659   $—   $255,221,273 
Money Market Funds   9,821,137    —    —    9,821,137 
   $248,240,751   $16,801,659   $—   $265,042,410 

 

Portfolio Abbreviations - Equity

 

ADR American Depositary Receipt

 

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