NPORT-EX 2 NPORT_0BHW_84686235_0522.htm

 

Schedule of Investments (unaudited) iShares® MSCI Brazil ETF
May 31, 2022 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
           
Common Stocks          
           
Banks — 3.3%          
Banco Bradesco SA   5,093,867   $18,092,282 
Banco do Brasil SA   15,386,849    118,560,859 
Banco Inter SA   5,385,718    14,267,328 
Banco Santander Brasil SA   7,886,013    55,670,269 
         206,590,738 
Beverages — 3.4%          
Ambev SA   71,380,943    213,126,760 
           
Capital Markets — 5.5%          
B3 SA - Brasil, Bolsa, Balcao   92,961,097    249,784,475 
Banco BTG Pactual SA   16,909,189    90,157,673 
XP Inc.(a)   1    23 
         339,942,171 
Containers & Packaging — 1.0%          
Klabin SA   13,228,730    62,183,423 
           
Diversified Telecommunication Services — 1.4%          
Telefonica Brasil SA   8,341,602    89,602,168 
           
Electric Utilities — 3.0%          
Centrais Eletricas Brasileiras SA   5,879,131    52,129,190 
CPFL Energia SA   2,512,770    17,817,876 
Energisa SA   2,651,605    24,783,389 
Equatorial Energia SA   18,538,394    92,759,257 
         187,489,712 
Electrical Equipment — 2.4%          
WEG SA   27,885,182    148,856,312 
           
Food & Staples Retailing — 1.9%          
Atacadao SA   8,811,720    35,876,904 
Raia Drogasil SA   18,990,329    82,513,660 
         118,390,564 
Food Products — 2.5%          
BRF SA(a)   11,898,810    39,182,413 
JBS SA   15,367,912    115,116,657 
         154,299,070 
Health Care Providers & Services — 2.2%          
Hapvida Participacoes e Investimentos SA(b)   66,833,144    94,500,579 
Rede D’Or Sao Luiz SA(b)   5,336,876    40,224,069 
         134,724,648 
Independent Power and Renewable Electricity Producers — 0.7%          
Engie Brasil Energia SA   4,459,074    41,189,119 
           
Insurance — 1.2%          
BB Seguridade Participacoes SA   13,033,977    73,719,014 
           
Metals & Mining — 19.6%          
Cia. Siderurgica Nacional SA   12,354,366    56,773,596 
Vale SA   64,046,456    1,161,785,772 
         1,218,559,368 
Multiline Retail — 2.9%          
Americanas SA   10,510,993    44,454,232 
Lojas Renner SA   17,061,668    95,494,076 
Magazine Luiza SA   48,766,488    38,171,368 
         178,119,676 
Oil, Gas & Consumable Fuels — 10.5%          
Cosan SA   18,690,205    84,984,972 
Petro Rio SA(a)   9,498,572    55,941,554 

 

Security  Shares   Value 
Oil, Gas & Consumable Fuels (continued)          
Petroleo Brasileiro SA   57,377,004   $401,544,256 
Ultrapar Participacoes SA   14,367,941    43,443,480 
Vibra Energia SA   16,284,902    66,612,344 
         652,526,606 
Paper & Forest Products — 2.3%          
Suzano SA   12,741,262    143,429,847 
           
Personal Products — 0.8%          
Natura & Co. Holding SA   15,067,074    52,215,065 
           
Pharmaceuticals — 1.0%          
Hypera SA   7,348,823    59,980,609 
           
Road & Rail — 3.4%          
Localiza Rent a Car SA   10,479,246    126,830,066 
Rumo SA   23,456,585    87,261,033 
         214,091,099 
Software — 0.7%          
TOTVS SA   6,763,088    40,371,760 
           
Transportation Infrastructure — 1.1%          
CCR SA   23,511,082    65,993,590 
           
Water Utilities — 1.0%          
Cia. de Saneamento Basico do Estado de Sao Paulo   6,542,028    63,017,547 
           
Wireless Telecommunication Services — 0.8%          
Tim SA   17,274,778    52,341,754 
           
Total Common Stocks — 72.6%          
(Cost: $3,098,264,517)       4,510,760,620 
           
Preferred Stocks          
           
Banks — 13.0%          
Banco Bradesco SA, Preference Shares, NVS   60,981,480    263,042,020 
Itau Unibanco Holding SA, Preference Shares, NVS   74,512,037    410,145,057 
Itausa SA, Preference Shares, NVS   68,562,020    138,348,838 
         811,535,915 
Chemicals — 0.3%          
Braskem SA, Class A, Preference Shares, NVS   2,416,547    22,627,082 
           
Electric Utilities — 1.9%          
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS   5,455,480    47,787,321 
Cia. Energetica de Minas Gerais, Preference Shares, NVS   27,941,058    68,492,351 
         116,279,672 
Metals & Mining — 2.0%          
Gerdau SA, Preference Shares, NVS   19,995,539    122,727,772 
           
Oil, Gas & Consumable Fuels — 7.5%          
Petroleo Brasileiro SA, Preference Shares, NVS   73,625,325    465,682,059 
           
Total Preferred Stocks — 24.7%          
(Cost: $999,090,548)        1,538,852,500 
           
Total Investments in Securities — 97.3%          
(Cost: $4,097,355,065)        6,049,613,120 
           
Other Assets Less Liabilities — 2.7%        165,612,661 
           
Net Assets — 100.0%       $6,215,225,781 


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Schedule of Investments (unaudited) (continued) iShares® MSCI Brazil ETF
May 31, 2022  

 

(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.


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: Treasury, SL Agency Shares(a)  $—   $—   $0(b)  $—   $—   $—    —   $7,925   $— 

 

(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                  
MSCI Brazil Index   2,955   06/17/22  $156,844   $5,562,078 

 

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.

 

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Schedule of Investments (unaudited) (continued) iShares® MSCI Brazil ETF
May 31, 2022  

 

Fair Value Measurements (continued)

 

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  $4,510,760,620   $—   $—   $4,510,760,620 
Preferred Stocks   1,538,852,500    —    —    1,538,852,500 
   $6,049,613,120   $—   $—   $6,049,613,120 
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $5,562,078   $—   $—   $5,562,078 

 

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

 

Portfolio Abbreviations - Equity
 
NVS Non-Voting Shares

 

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