NPORT-EX 2 NPORT_0BGM_93593367_1121.htm

 

Schedule of Investments (unaudited) iShares®  MSCI Russia ETF
November 30, 2021 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
           
Common Stocks          
           
Banks — 19.0%          
Sberbank of Russia PJSC   18,222,930   $77,756,874 
TCS Group Holding PLC, GDR(a)   279,715    27,301,361 
VTB Bank PJSC   8,032,415,016    5,159,514 
         110,217,749 
Capital Markets — 1.6%          
Moscow Exchange MICEX-RTS PJSC   4,581,200    9,364,581 
           
Chemicals — 1.7%          
PhosAgro PJSC, GDR(a)   434,156    9,577,481 
           
Electric Utilities — 1.3%          
Inter RAO UES PJSC   132,640,000    7,655,976 
           
Food & Staples Retailing — 4.3%          
Magnit PJSC, GDR(a)   958,181    14,771,712 
X5 Retail Group NV, GDR(a)   362,910    10,190,854 
         24,962,566 
Interactive Media & Services — 5.5%          
Mail.Ru Group Ltd., GDR(a)(b)   381,196    6,445,077 
Yandex NV, Class A(b)   349,577    25,283,417 
         31,728,494 
Internet & Direct Marketing Retail — 0.8%          
Ozon Holdings PLC, ADR(b)   107,071    4,363,761 
           
Metals & Mining — 17.5%          
Alrosa PJSC   7,269,440    12,637,251 
MMC Norilsk Nickel PJSC   93,295    27,038,500 
Novolipetsk Steel PJSC   4,243,920    12,359,747 
Polymetal International PLC   806,488    15,093,273 
Polyus PJSC   86,183    16,799,237 
Severstal PAO   584,111    12,385,725 
United Co. RUSAL International PJSC(b)   5,623,580    5,252,566 
         101,566,299 
Oil, Gas & Consumable Fuels — 44.4%          
Gazprom PJSC   23,751,550    106,579,300 
LUKOIL PJSC   828,473    72,992,490 
Security  Shares   Value 
         
Oil, Gas & Consumable Fuels (continued)          
Novatek PJSC, GDR(a)   121,009   $26,398,138 
Rosneft Oil Co. PJSC   2,481,399    18,878,413 
Surgutneftegas PJSC   21,346,780    10,581,397 
Tatneft PJSC   3,393,931    21,710,119 
         257,139,857 
Wireless Telecommunication Services — 1.9%          
Mobile TeleSystems PJSC, ADR   1,341,863    10,748,323 
           
Total Common Stocks — 98.0%          
(Cost: $436,992,688)       567,325,087 
           

Preferred Stocks

         
Oil, Gas & Consumable Fuels — 1.8%        
Surgutneftegas PJSC, Preference Shares, NVS   21,021,700    10,634,228 
           
Total Preferred Stocks — 1.8%          
(Cost: $11,601,266)       10,634,228 
           

Short-Term Investments

 

Money Market Funds — 0.4%        
BlackRock Cash Funds: Treasury, SL Agency Shares,        
0.00%(c)(d)   2,190,000    2,190,000 
           
Total Short-Term Investments — 0.4%          
(Cost: $2,190,000)        2,190,000 
           
Total Investments in Securities — 100.2%          
(Cost: $450,783,954)        580,149,315 
           
Other Assets, Less Liabilities — (0.2)%        (1,207,628)
Net Assets—100.0%       $578,941,687 

 

(a)This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(b)Non-income producing security.
(c)Affiliate of the Fund.
(d)Annualized 7-day yield as of period end.


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: Treasury, SL Agency Shares   $ 970,000   $ 1,220,000 (a)  $ — $ —   $ —   $ 2,190,000     2,190,000   $ 22 $ —  

  

(a)Represents net amount purchased (sold).

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Schedule of Investments (unaudited) (continued) iShares®  MSCI Russia ETF
November 30, 2021 (Percentages shown are based on Net Assets)

  

Derivative Financial Instruments Outstanding as of Period End

 

Futures Contracts

 

               Value/ 
           Notional   Unrealized 
   Number of   Expiration   Amount   Appreciation 
Description  Contracts   Date   (000)   (Depreciation) 
Long Contracts                
MSCI Emerging Markets Index   13    12/17/21   $788   $(53,068)

 

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  $25,578,370   $541,746,717   $—   $567,325,087 
Preferred Stocks   —    10,634,228    —    10,634,228 
Money Market Funds   2,190,000    —    —    2,190,000 
   $27,768,370   $552,380,945   $—   $580,149,315 
                     
Derivative financial instruments(a)                    
Liabilities                    
Futures Contracts  $(53,068)  $—   $—   $(53,068)

 

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

 

Portfolio Abbreviations - Equity

 

ADR American Depositary Receipt
GDR Global Depositary Receipt
NVS Non-Voting Shares
PJSC Public Joint Stock Company

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