NPORT-EX 2 NPORT_0BIA_66293658_0522.htm

 

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

 

Security  Shares   Value 
Common Stocks          
           
Banks — 30.0%          
Banco Bilbao Vizcaya Argentaria SA   9,187,918   $50,278,775 
Banco Santander SA   23,540,910    76,362,357 
CaixaBank SA   6,360,954    23,024,542 
         149,665,674 
Biotechnology — 2.7%          
Grifols SA   637,805    13,423,356 
           
Construction & Engineering — 6.9%          
ACS Actividades de Construccion y Servicios SA   485,494    13,766,408 
Ferrovial SA   802,360    20,694,278 
Ferrovial SA   9,389    242,023 
         34,702,709 
Diversified Telecommunication Services — 9.2%          
Cellnex Telecom SA(a)   502,604    22,682,095 
Telefonica SA   4,297,734    23,367,722 
         46,049,817 
Electric Utilities — 26.4%          
Acciona SA   43,255    8,335,335 
Endesa SA   655,368    14,518,777 
Iberdrola SA   7,805,167    92,479,576 
Red Electrica Corp. SA   784,878    16,262,154 
         131,595,842 
Electrical Equipment — 2.4%          
Siemens Gamesa Renewable Energy SA(b)   609,733    11,821,530 
           
Gas Utilities — 4.8%          
Enagas SA   556,593    12,743,407 
Naturgy Energy Group SA(c)   368,799    11,144,770 
         23,888,177 
IT Services — 4.2%          
Amadeus IT Group SA(b)   339,536    21,127,172 
           
Oil, Gas & Consumable Fuels — 4.4%          
Repsol SA   1,373,889    22,045,908 
Security  Shares   Value 
Specialty Retail — 4.7%          
Industria de Diseno Textil SA   980,145   $23,626,183 
           
Transportation Infrastructure — 4.0%          
Aena SME SA(a)(b)   130,596    19,923,581 
Total Common Stocks — 99.7%          
(Cost: $640,444,132)        497,869,949 
           
Short-Term Securities          
           
Money Market Funds — 0.9%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.87%(d)(e)(f)   1,068,596    1,068,596 
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.72%(d)(e)   3,080,000    3,080,000 
         4,148,596 
Total Short-Term Securities — 0.9%          
(Cost: $4,148,776)        4,148,596 
Total Investments in Securities — 100.6%          
(Cost: $644,592,908)        502,018,545 
Liabilities in Excess of Other Assets — (0.6)%        (2,781,410)
Net Assets — 100.0%       $499,237,135 

 

(a)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.
(b)Non-income producing security.
(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 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  $—   $1,069,815(a)  $—   $(1,039)  $(180)  $1,068,596   1,068,596   $230,079(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   3,290,000    —    (210,000)(a)   —    —    3,080,000   3,080,000    3,178    — 
                  $(1,039)  $(180)  $4,148,596       $233,257   $— 
(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 Spain 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                  
IBEX 35 Index   14   06/17/22  $1,327   $44,866 

 

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  $—   $497,869,949   $—   $497,869,949 
Money Market Funds   4,148,596    —    —    4,148,596 
   $4,148,596   $497,869,949   $—   $502,018,545 
                     
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $—   $44,866   $—   $44,866 

 

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

 

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