NPORT-EX 2 NPORT_0BQM_99156611_0522.htm

 

Schedule of Investments (unaudited) iShares® MSCI Emerging Markets Min Vol Factor ETF
May 31, 2022 (Percentages shown are based on Net Assets)

  

Security  Shares   Value 
         
Common Stocks          
           
Brazil — 0.5%          
Klabin SA   2,126,203   $9,994,503 
Raia Drogasil SA   1,165,797    5,065,430 
Suzano SA   1,130,685    12,728,251 
Vale SA   177,988    3,228,655 
         31,016,839 
China — 25.9%          
360 Security Technology Inc., Class A(a)   6,918,000    8,554,734 
Agricultural Bank of China Ltd., Class A   33,346,798    15,129,490 
Agricultural Bank of China Ltd., Class H   145,732,000    55,494,601 
Alibaba Group Holding Ltd.(a)   703,768    8,452,413 
Anhui Conch Cement Co. Ltd., Class H   565,500    2,868,144 
Anhui Gujing Distillery Co. Ltd., Class B   1,884,189    27,618,135 
ANTA Sports Products Ltd.   985,000    11,169,485 
Apeloa Pharmaceutical Co. Ltd., Class A   1,105,497    3,434,650 
Bank of China Ltd., Class A   33,373,700    15,944,180 
Bank of China Ltd., Class H   224,474,000    89,738,253 
Bank of Communications Co. Ltd., Class A   23,231,974    17,074,960 
Bank of Communications Co. Ltd., Class H   14,562,000    9,917,685 
Bank of Ningbo Co. Ltd., Class A   806,665    3,949,571 
Bank of Shanghai Co. Ltd., Class A   5,654,084    5,426,064 
BeiGene Ltd., ADR(a)(b)   69,540    9,542,279 
Beijing Capital International Airport Co. Ltd., Class H(a)   12,756,000    7,473,167 
Beijing Tiantan Biological Products Corp. Ltd., Class A   1,272,895    4,292,230 
Beijing Yuanliu Hongyuan Electronic Technology Co. Ltd., Class A   195,100    3,691,279 
Beijing-Shanghai High Speed Railway Co. Ltd., Class A   33,213,935    24,191,248 
BOE Technology Group Co. Ltd., Class A   32,570,300    18,449,939 
CanSino Biologics Inc., Class H(a)(c)   318,000    3,203,423 
CGN Power Co. Ltd., Class H(c)   78,428,000    20,573,088 
Changchun High & New Technology Industry Group Inc., Class A   174,900    4,338,763 
Chifeng Jilong Gold Mining Co. Ltd., Class A(a)   1,741,900    4,117,368 
China CITIC Bank Corp. Ltd., Class H   24,678,000    11,944,706 
China Conch Venture Holdings Ltd.   12,370,000    32,177,972 
China Construction Bank Corp., Class A   9,270,584    8,299,901 
China Construction Bank Corp., Class H   56,894,000    42,176,419 
China Feihe Ltd.(c)   5,016,000    5,062,548 
China Gas Holdings Ltd.   2,671,800    3,980,837 
China Huishan Dairy Holdings Co. Ltd.(a)(d)   5,944,807    8 
China Life Insurance Co. Ltd., Class H   2,075,000    3,183,349 
China Meidong Auto Holdings Ltd.   2,800,000    10,062,188 
China Mengniu Dairy Co. Ltd.   4,999,000    25,594,870 
China Merchants Bank Co. Ltd., Class H   2,638,500    16,688,449 
China Minsheng Banking Corp. Ltd., Class A   20,415,954    11,650,563 
China National Medicines Corp. Ltd., Class A   718,200    3,006,089 
China Petroleum & Chemical Corp., Class H   12,778,000    6,120,185 
China Resources Beer Holdings Co. Ltd.   5,484,000    34,179,957 
China Resources Gas Group Ltd.   3,758,000    15,723,159 
China Shenhua Energy Co. Ltd., Class H   2,363,500    7,893,198 
China Tourism Group Duty Free Corp. Ltd., Class A   734,963    19,336,640 
China Tower Corp. Ltd., Class H(c)   310,838,000    36,420,674 
China United Network Communications Ltd., Class A   30,010,135    15,625,518 
China Yangtze Power Co. Ltd., Class A   22,416,188    80,536,614 
China Zhenhua Group Science & Technology Co. Ltd., Class A   216,900    3,873,812 
Chongqing Zhifei Biological Products Co. Ltd., Class A   642,300    8,395,882 
CSPC Pharmaceutical Group Ltd.   4,180,000    4,466,224 
Security  Shares   Value 
         
China (continued)          
Daan Gene Co. Ltd., Class A   1,469,220   $3,867,713 
Dali Foods Group Co. Ltd.(c)   6,363,000    3,204,606 
ENN Energy Holdings Ltd.   1,307,900    20,010,911 
Foshan Haitian Flavouring & Food Co. Ltd., Class A   443,652    5,076,213 
Founder Securities Co. Ltd., Class A   7,974,800    7,470,321 
Fuyao Glass Industry Group Co. Ltd., Class A   530,503    3,175,867 
Gree Electric Appliances Inc. of Zhuhai, Class A   1,240,000    5,975,702 
Guangdong Haid Group Co. Ltd., Class A   1,578,136    14,125,002 
Guangdong Investment Ltd.   13,568,000    17,107,721 
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A   1,359,394    6,299,919 
Guangzhou Haige Communications Group Inc. Co., Class A   2,222,000    3,114,466 
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A   487,400    5,528,564 
Hangzhou Tigermed Consulting Co. Ltd., Class H(c)   307,900    2,968,510 
Hansoh Pharmaceutical Group Co. Ltd.(c)   5,570,000    10,019,663 
Hengan International Group Co. Ltd.   1,677,500    8,306,029 
Huagong Tech Co. Ltd., Class A   1,025,115    3,131,335 
Hualan Biological Engineering Inc., Class A   1,170,680    3,277,359 
Huaxia Bank Co. Ltd., Class A   9,034,978    7,196,879 
Hundsun Technologies Inc., Class A   944,709    5,657,358 
Iflytek Co. Ltd., Class A   2,226,181    12,092,822 
Industrial & Commercial Bank of China Ltd., Class A   4,479,100    3,125,894 
Industrial & Commercial Bank of China Ltd., Class H   111,627,000    66,844,518 
Industrial Bank Co. Ltd., Class A   2,432,382    7,146,340 
Inspur Electronic Information Industry Co. Ltd., Class A   1,409,936    5,191,491 
Jiangsu Expressway Co. Ltd., Class H   19,348,000    19,968,461 
Jiangsu Hengrui Medicine Co. Ltd., Class A   3,761,127    17,026,272 
Joinn Laboratories China Co. Ltd., Class A   335,433    5,347,934 
Jointown Pharmaceutical Group Co. Ltd., Class A   1,784,678    3,160,955 
Kweichow Moutai Co. Ltd., Class A   49,790    13,419,926 
Legend Biotech Corp., ADR(a)   130,018    5,498,461 
Lenovo Group Ltd.   8,716,000    8,587,947 
LONGi Green Energy Technology Co. Ltd., Class A   257,600    3,056,238 
Muyuan Foods Co. Ltd., Class A   572,400    4,388,500 
PetroChina Co. Ltd., Class A   4,782,500    4,003,329 
Pharmaron Beijing Co. Ltd., Class H(c)   267,300    3,223,641 
Ping An Insurance Group Co. of China Ltd., Class H   3,089,500    19,781,535 
Postal Savings Bank of China Co. Ltd., Class H(c)   60,286,000    44,776,122 
Sangfor Technologies Inc., Class A   222,200    3,135,112 
SDIC Power Holdings Co. Ltd., Class A   6,612,282    10,230,166 
SF Holding Co. Ltd., Class A   1,118,000    8,670,174 
Shandong Gold Mining Co. Ltd., Class A   3,433,868    9,403,873 
Shandong Gold Mining Co. Ltd., Class H(c)   8,515,250    15,073,371 
Shandong Weigao Group Medical Polymer Co. Ltd., Class H   4,466,000    4,954,355 
Shanghai Baosight Software Co. Ltd., Class B   6,236,377    24,366,311 
Shanghai Friendess Electronic Technology Corp. Ltd., Class A   94,400    2,950,857 
Shanghai International Airport Co. Ltd., Class A(a)   530,800    3,997,543 
Shanghai Lujiazui Finance & Trade Zone Development  Co. Ltd., Class B   19,204,828    17,839,730 
Shanghai M&G Stationery Inc., Class A   551,151    4,266,759 
Shanghai Pharmaceuticals Holding Co. Ltd., Class H   4,515,300    7,351,705 
Shanghai Pudong Development Bank Co. Ltd., Class A   5,357,968    6,367,651 
Shanghai RAAS Blood Products Co. Ltd., Class A   6,520,400    5,495,188 
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A   242,200    9,886,825 
Shenzhen Goodix Technology Co. Ltd., Class A   333,000    2,870,568 


1

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
May 31, 2022 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
China (continued)          
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A   253,400   $11,442,724 
Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A   816,261    3,151,819 
Shenzhou International Group Holdings Ltd.   1,309,600    17,979,281 
Sichuan Chuantou Energy Co. Ltd., Class A   3,488,559    6,284,569 
Sino Biopharmaceutical Ltd.   16,417,000    9,204,029 
Sinopec Shanghai Petrochemical Co. Ltd., Class A   6,089,067    3,058,423 
Sinopharm Group Co. Ltd., Class H   1,465,600    3,625,063 
Songcheng Performance Development Co. Ltd., Class A   2,491,159    4,761,764 
TCL Technology Group Corp., Class A   4,675,300    3,179,666 
Tencent Holdings Ltd.   350,600    16,028,858 
Thunder Software Technology Co. Ltd., Class A   181,400    2,977,561 
Tianjin 712 Communication & Broadcasting Co. Ltd., Class A   748,561    3,073,991 
Tianjin Zhonghuan Semiconductor Co. Ltd., Class A   1,171,607    7,617,988 
Tianshui Huatian Technology Co. Ltd., Class A   2,208,000    2,846,841 
Tingyi Cayman Islands Holding Corp.   3,796,000    6,723,978 
Topchoice Medical Corp., Class A(a)   210,797    4,403,857 
TravelSky Technology Ltd., Class H   2,151,000    3,498,577 
Walvax Biotechnology Co. Ltd., Class A   830,606    5,775,449 
Want Want China Holdings Ltd.   10,536,000    10,484,994 
Wuliangye Yibin Co. Ltd., Class A   248,400    6,377,913 
WuXi AppTec Co. Ltd., Class H(c)   601,064    7,428,603 
Xiaomi Corp., Class B(a)(c)   10,107,000    15,596,961 
Yealink Network Technology Corp. Ltd., Class A   292,594    3,238,053 
Yonyou Network Technology Co. Ltd., Class A   1,066,900    3,081,482 
Yum China Holdings Inc.   823,716    37,446,129 
Yunnan Baiyao Group Co. Ltd., Class A   377,628    3,187,210 
Zhejiang Dahua Technology Co. Ltd., Class A   1,487,900    3,588,098 
Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A   871,563    6,198,808 
Zhejiang Supor Co. Ltd., Class A   350,085    2,941,535 
Zhongsheng Group Holdings Ltd.   1,649,000    11,694,528 
ZTE Corp., Class A   3,750,020    13,623,920 
ZTO Express Cayman Inc., ADR   278,235    7,495,651 
         1,548,077,946 
Czech Republic — 0.2%          
CEZ AS   296,318    14,438,121 
           
Egypt — 0.2%          
Commercial International Bank Egypt SAE   4,619,017    10,246,521 
           
Greece — 0.6%          
Hellenic Telecommunications Organization SA   1,984,576    37,636,815 
           
Hungary — 0.4%          
Richter Gedeon Nyrt   1,255,380    24,559,605 
           
India — 12.7%          
ACC Ltd.   470,293    13,248,748 
Adani Green Energy Ltd.(a)   144,915    3,525,894 
Apollo Hospitals Enterprise Ltd.   90,933    4,642,223 
Asian Paints Ltd.   1,076,944    39,361,986 
Bajaj Auto Ltd.   317,335    15,709,567 
Bharti Airtel Ltd.(a)   2,130,955    19,155,527 
Britannia Industries Ltd.   419,709    19,616,726 
Cipla Ltd.   2,273,247    29,019,130 
Colgate-Palmolive India Ltd.   207,791    4,342,372 
Dabur India Ltd.   4,552,684    30,375,290 
Divi's Laboratories Ltd.   315,061    14,522,669 
Dr. Reddy's Laboratories Ltd.   477,174    26,737,759 
Security  Shares   Value 
         
India (continued)          
Eicher Motors Ltd.   123,539   $4,403,158 
HCL Technologies Ltd.   4,198,514    55,989,740 
Hindustan Unilever Ltd.   1,537,450    46,289,064 
Housing Development Finance Corp. Ltd.   104,773    3,084,177 
Infosys Ltd.   3,574,047    68,968,303 
Lupin Ltd.   1,227,583    9,764,644 
Marico Ltd.   4,476,797    30,651,723 
Maruti Suzuki India Ltd.   33,628    3,426,777 
Mindtree Ltd.   78,653    3,075,698 
Mphasis Ltd.   181,690    6,047,005 
MRF Ltd.   24,852    24,820,333 
Nestle India Ltd.   73,952    16,794,766 
Page Industries Ltd.   40,644    23,575,045 
Pidilite Industries Ltd.   1,349,265    38,845,922 
Reliance Industries Ltd.   639,089    21,529,924 
Sun Pharmaceutical Industries Ltd.   2,260,816    25,003,944 
Tata Consultancy Services Ltd.   1,595,548    68,802,820 
Tech Mahindra Ltd.   1,857,934    28,090,494 
Titan Co. Ltd.   761,102    21,632,846 
UltraTech Cement Ltd.   41,225    3,212,906 
Wipro Ltd.   5,532,674    33,623,572 
Yes Bank Ltd.(a)   2,885,871    486,942 
         758,377,694 
Indonesia — 0.1%          
Bank Jago Tbk PT(a)   4,755,200    3,057,403 
           
Kuwait — 2.4%          
Agility Public Warehousing Co. KSC   1,749,304    6,558,462 
Kuwait Finance House KSCP   8,396,416    24,622,449 
Mobile Telecommunications Co. KSCP   25,173,648    51,771,062 
National Bank of Kuwait SAKP   18,150,221    61,442,292 
         144,394,265 
Malaysia — 4.5%          
DiGi.Com Bhd   18,483,600    14,888,870 
Genting Malaysia Bhd   4,186,200    2,868,243 
Hong Leong Bank Bhd   5,702,900    27,413,168 
IHH Healthcare Bhd   24,542,300    37,510,757 
IOI Corp. Bhd   3,595,400    3,530,940 
Malayan Banking Bhd   26,677,700    55,403,786 
Malaysia Airports Holdings Bhd(a)   2,190,000    3,281,892 
Maxis Bhd   10,484,400    9,076,732 
MISC Bhd   2,987,700    4,892,500 
MR DIY Group M Bhd(c)   9,288,100    6,894,216 
Nestle Malaysia Bhd   1,178,400    36,279,164 
Petronas Chemicals Group Bhd   5,564,800    13,030,182 
Petronas Dagangan Bhd   1,661,400    8,562,497 
PPB Group Bhd   4,299,200    16,318,991 
Public Bank Bhd   5,593,100    6,041,507 
Telekom Malaysia Bhd   4,859,300    5,949,773 
Tenaga Nasional Bhd   7,276,300    15,205,697 
Top Glove Corp. Bhd   8,747,700    2,797,026 
Westports Holdings Bhd   98,800    77,826 
         270,023,767 
Mexico — 0.6%          
Wal-Mart de Mexico SAB de CV(b)   9,207,900    34,046,842 
           
Peru — 0.6%          
Cia. de Minas Buenaventura SAA, ADR.   1,656,087    14,142,983 
Credicorp Ltd.   163,021    22,884,888 
         37,027,871 


2

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
May 31, 2022 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Philippines — 1.5%          
AC Energy Corp.   22,704,600   $3,098,791 
Bank of the Philippine Islands   11,862,538    22,383,429 
BDO Unibank Inc.   4,583,893    11,661,459 
Globe Telecom Inc.   181,955    8,414,402 
International Container Terminal Services Inc.   5,660,110    23,428,153 
Manila Electric Co.   2,186,840    15,574,407 
PLDT Inc.   96,505    3,500,062 
SM Investments Corp.   206,985    3,387,804 
         91,448,507 
Poland — 0.2%          
Dino Polska SA(a)(c)   153,440    10,726,365 
           
Qatar — 3.0%          
Masraf Al Rayan QSC   47,617,560    61,223,451 
Ooredoo QPSC   2,988,078    6,054,289 
Qatar Electricity & Water Co. QSC.   4,484,096    20,626,412 
Qatar Fuel QSC   1,666,797    7,849,656 
Qatar Islamic Bank SAQ   5,427,465    34,402,304 
Qatar National Bank QPSC   8,217,527    48,439,433 
         178,595,545 
Russia — 0.0%          
Polymetal International PLC(d)   244,417    39 
Polyus PJSC(d)   95,932    15 
Rosneft Oil Co. PJSC(d)   759,070    121 
Yandex NV(a)(d)   49,681    8 
         183 
Saudi Arabia — 9.4%          
Abdullah Al Othaim Markets Co.   150,701    4,444,082 
Advanced Petrochemical Co.   784,506    12,235,181 
Al Rajhi Bank.   3,465,659    91,169,552 
Alinma Bank.   3,790,906    38,851,932 
Bank AlBilad(a)   473,280    6,315,704 
Bank Al-Jazira   1,461,539    11,171,124 
Bupa Arabia for Cooperative Insurance Co.   142,030    5,967,866 
Co. for Cooperative Insurance (The)   24,924    396,488 
Dar Al Arkan Real Estate Development Co.(a)   9,233,135    30,280,645 
Dr Sulaiman Al Habib Medical Services Group Co.   157,642    8,986,147 
Emaar Economic City(a)   6,920,780    20,556,959 
Etihad Etisalat Co.   4,665,052    48,838,365 
Jarir Marketing Co.   1,025,904    44,321,874 
Mobile Telecommunications Co.(a)   7,188,080    25,563,279 
SABIC Agri-Nutrients Co.   934,077    36,583,625 
Saudi Arabian Oil Co.(c)   1,986,337    22,182,037 
Saudi Basic Industries Corp.   1,528,144    46,686,244 
Saudi Electricity Co.   3,979,235    25,761,455 
Saudi Telecom Co.   2,665,886    73,052,373 
Yanbu National Petrochemical Co.   665,146    9,642,131 
         563,007,063 
South Korea — 7.0%          
Amorepacific Corp.   24,049    3,168,171 
Celltrion Healthcare Co. Ltd.   67,761    3,373,699 
Celltrion Inc.   47,028    6,080,894 
CJ Logistics Corp.(a)   71,124    7,424,453 
Coway Co. Ltd.   143,795    8,273,930 
Hanon Systems   771,957    7,108,476 
HLB Inc.(a)(b)   112,368    4,110,006 
HMM Co. Ltd.   800,272    20,989,999 
Hotel Shilla Co. Ltd.(b)   438,578    27,515,861 
Kakao Corp.   153,165    10,461,058 
Security  Shares   Value 
         
South Korea (continued)          
Kangwon Land Inc.(a)   187,202   $4,251,840 
Kia Corp.   46,554    3,211,578 
KT&G Corp.   511,999    35,131,216 
LG Electronics Inc.   46,604    3,955,238 
LG Household & Health Care Ltd.   5,508    3,252,809 
LG Uplus Corp.   544,305    6,085,166 
NAVER Corp.   189,190    43,806,847 
NCSoft Corp.   27,973    10,241,048 
Netmarble Corp.(c)   77,609    5,205,238 
Orion Corp./Republic of KoreA   48,442    3,800,427 
Pan Ocean Co. Ltd.   833,447    5,119,784 
S-1 Corp.   270,970    15,705,610 
Samsung Biologics Co. Ltd.(a)(c)   44,854    30,611,370 
Samsung Electronics Co. Ltd.   1,021,944    55,571,210 
Samsung SDS Co. Ltd.   153,550    18,361,114 
Seegene Inc.   316,011    11,353,612 
SK Bioscience Co. Ltd.(a)(b)   30,283    3,304,706 
SK Hynix Inc.   245,523    21,280,271 
SK Telecom Co. Ltd.   441,339    20,321,708 
Yuhan Corp.   433,021    21,079,039 
         420,156,378 
Taiwan — 18.9%          
Accton Technology Corp.   802,000    6,346,728 
Advantech Co. Ltd.   4,498,855    55,519,591 
Asustek Computer Inc.   4,227,000    49,489,751 
Cathay Financial Holding Co. Ltd.   5,641,034    10,759,763 
China Steel Corp.   12,382,000    14,718,480 
Chunghwa Telecom Co. Ltd.   20,654,000    89,764,434 
Compal Electronics Inc.   42,436,000    33,519,105 
Delta Electronics Inc.   704,000    5,792,652 
E.Sun Financial Holding Co. Ltd.   32,368,459    33,921,365 
Evergreen Marine Corp. Taiwan Ltd.   2,295,000    11,109,302 
Far EasTone Telecommunications Co. Ltd.   25,760,000    70,521,626 
First Financial Holding Co. Ltd.   99,668,899    93,502,191 
Formosa Petrochemical Corp.   3,783,000    12,580,787 
Formosa Plastics Corp.   3,804,840    13,721,101 
Hon Hai Precision Industry Co. Ltd.   3,883,000    15,055,630 
Hua Nan Financial Holdings Co. Ltd.   94,393,089    76,996,210 
Inventec Corp.   10,630,000    9,448,889 
Lite-On Technology Corp.   12,977,752    28,075,358 
Mega Financial Holding Co. Ltd.   20,175,000    26,802,236 
Novatek Microelectronics Corp.   1,356,000    18,967,649 
Pou Chen Corp.   5,183,000    5,562,486 
President Chain Store Corp.   9,137,000    86,473,580 
Quanta Computer Inc.   4,409,000    12,031,221 
Realtek Semiconductor Corp.   194,000    2,974,332 
Synnex Technology International Corp.   16,853,000    40,549,567 
Taiwan Cooperative Financial Holding Co. Ltd.   95,771,330    92,411,850 
Taiwan High Speed Rail Corp.   11,939,000    11,359,788 
Taiwan Mobile Co. Ltd.   23,810,000    88,476,454 
Taiwan Semiconductor Manufacturing Co. Ltd.   4,452,000    84,191,438 
Uni-President Enterprises Corp.   4,784,000    11,069,739 
United Microelectronics Corp.   2,166,000    3,816,735 
WPG Holdings Ltd.   9,623,440    17,452,917 
         1,132,982,955 
Thailand — 5.5%          
Advanced Info Service PCL, NVDR.   12,068,300    76,448,760 
Airports of Thailand PCL, NVDR(a)   28,396,500    57,851,010 
Bangkok Dusit Medical Services PCL, NVDR   58,838,100    44,263,433 


3

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
May 31, 2022 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Thailand (continued)          
Bangkok Expressway & Metro PCL, NVDR   11,928,600   $3,185,731 
Bumrungrad Hospital PCL, NVDR   4,312,300    21,989,342 
CP ALL PCL, NVDR   23,637,200    45,720,352 
Home Product Center PCL, NVDR   40,865,200    17,736,624 
Intouch Holdings PCL, NVDR   13,390,200    27,976,063 
Osotspa PCL, NVDR   6,385,000    6,483,891 
PTT Oil & Retail Business PCL, NVDR   20,851,300    16,864,527 
Siam Cement PCL (The), NVDR   725,600    7,874,509 
Thai Union Group PCL, NVDR   6,030,400    3,027,562 
         329,421,804 
Turkey — 0.3%          
BIM Birlesik Magazalar AS   3,591,305    18,062,437 
           
United Arab Emirates — 4.0%          
Abu Dhabi National Oil Co. for Distribution PJSC   54,522,953    62,190,486 
Aldar Properties PJSC   30,966,027    44,584,823 
Dubai Islamic Bank PJSC   9,012,591    14,597,517 
Emirates Telecommunications Group Co. PJSC   9,977,886    82,353,215 
First Abu Dhabi Bank PJSC   6,141,982    35,882,002 
         239,608,043 
Total Common Stocks — 98.5%          
(Cost: $5,485,265,820)        5,896,912,969 
           
Preferred Stocks          
           
Russia — 0.0%          
Surgutneftegas PJSC, Preference Shares, NVS(d)   40,815,200    6,504 
           
South Korea — 0.8%          
LG Household & Health Care Ltd., Preference Shares, NVS   28,204    9,185,041 
Security  Shares   Value 
         
South Korea (continued)          
Samsung Electronics Co. Ltd., Preference Shares, NVS   748,176   $36,698,977 
         45,884,018 
Total Preferred Stocks — 0.8%          
(Cost: $75,785,846)        45,890,522 
           
Short-Term Securities          
           
Money Market Funds — 0.2%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.87%(e)(f)(g)   14,965,913    14,965,913 
           
Total Short-Term Securities — 0.2%          
(Cost: $14,957,432)        14,965,913 
           
Total Investments in Securities — 99.5%          
(Cost: $5,576,009,098)        5,957,769,404 
Other Assets Less Liabilities — 0.5%        27,389,079 
Net Assets — 100.0%       $5,985,158,483 

 

(a)Non-income producing security.

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

(c)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.

(d)Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(e)Affiliate of the Fund.

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

(g)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 May 31, 2022 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 Sale		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
05/31/22		   Shares
Held at
05/31/22		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Institutional, SL Agency Shares  $15,776,157   $—   $(789,269)(a)  $(15,237)  $(5,738)  $14,965,913    14,965,913   $313,367(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares(c)   7,590,000    —    (7,590,000)(a)   —    —    —    —    3,696    — 
                  $(15,237)  $(5,738)  $14,965,913        $317,063   $— 

 

(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.

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

 

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Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
May 31, 2022  

 

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                  
MSCI Emerging Markets Index   470   06/17/22  $24,988   $903,065 
2-Year U.S. Treasury Note   24   09/30/22   5,066    (4,562)
                $898,503 

 

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  $362,695,638   $5,534,217,140   $191   $5,896,912,969 
Preferred Stocks   —    45,884,018    6,504    45,890,522 
Money Market Funds   14,965,913    —    —    14,965,913 
   $377,661,551   $5,580,101,158   $6,695   $5,957,769,404 
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $903,065   $—   $—   $903,065 
Liabilities                    
Futures Contracts   (4,562)   —    —    (4,562)
   $898,503   $—   $—   $898,503 
                     
(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
NVDR Non-Voting Depositary Receipt
NVS Non-Voting Shares
PJSC Public Joint Stock Company

 

5