NPORT-EX 2 NPORT_2QNX_53812104_0522.htm

 

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

 

Security  Shares   Value 
           
Investment Companies          
           
Exchange-Traded Funds — 99.9%          
iShares MSCI Emerging Markets ETF(a)   3,848,828   $164,114,026 
           
Total Investment Companies — 99.9%          
(Cost: $178,263,610)        164,114,026 
           
Total Investments in Securities — 99.9%          
(Cost: $178,263,610)        164,114,026 
           
Other Assets Less Liabilities — 0.1%.        157,149 
           
Net Assets — 100.0%       $164,271,175 

 

 

(a)Affiliate of the Fund.

 

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)  $370,000   $—     $(370,000)(b)  $—     $—     $—      —     $1,271   $—   
iShares MSCI Emerging Markets ETF   202,917,841    67,528,901    (67,641,360)   4,303,817    (42,995,173)   164,114,026    3,848,828    2,936,856    —   
                  $4,303,817   $(42,995,173)  $164,114,026        $2,938,127   $—   

 

(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

 

Forward Foreign Currency Exchange Contracts

 

Currency Purchased     Currency Sold   Counterparty   Settlement Date  Unrealized
Appreciation
(Depreciation)		 
BRL 7,726,000     USD1,561,004   MS   06/03/22  $64,173 
CLP 100,862,000     USD120,183   MS   06/03/22   2,241 
EUR 2,182,000     USD2,334,379   MS   06/03/22   8,202 
INR 31,338,000     USD402,911   MS   06/03/22   701 
MXN 86,622,000     USD4,383,003   MS   06/03/22   17,553 
MYR 606,000     USD138,198   MS   06/03/22   209 
USD 25,144,056     INR1,931,004,000   MS   06/03/22   274,065 
USD 2,817,298     MYR12,256,000   MS   06/03/22   18,079 
USD 569,129     TRY8,646,000   MS   06/03/22   43,281 
ZAR 14,486,000     USD915,857   MS   06/03/22   10,016 
CNY 53,924,320     USD8,069,974   MS   06/07/22   19,656 
HKD 18,563,000     USD2,365,606   MS   06/07/22   210 
KRW 34,821,891,000     USD28,021,228   MS   06/07/22   56,414 
THB 110,402,000     USD3,215,450   MS   06/07/22   11,095 
TWD 879,993,000     USD30,262,266   MS   06/07/22   72,233 
USD 9,190,144     CNY61,185,320   MS   06/07/22   11,231 
USD 42,982,240     HKD337,019,000   MS   06/07/22   29,873 
CNY 1,426,000     USD213,402   MS   07/07/22   372 

 

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Schedule of Investments (unaudited) (continued) iShares® Currency Hedged MSCI Emerging Markets ETF
May 31, 2022

 

Forward Foreign Currency Exchange Contracts (continued) 

 

Currency Purchased     Currency Sold   Counterparty   Settlement Date  Unrealized
Appreciation
(Depreciation)		 
EUR 64,000     USD68,683   MS   07/07/22  $147 
THB 2,624,000     USD76,664   MS   07/07/22   89 
USD 9,541,827     BRL45,564,000   MS   07/07/22   45,037 
USD 1,289,836     CLP1,067,995,000   MS   07/07/22   1,234 
USD 36,397,256     HKD285,309,000   MS   07/07/22   5,530 
USD 25,588,664     KRW31,748,111,000   MS   07/07/22   37,942 
USD 2,579,614     MYR11,300,000   MS   07/07/22   505 
USD 170,365     TWD4,923,000   MS   07/07/22   221 
USD 6,323,177     ZAR98,974,000   MS   07/07/22   23,625 
                     753,934 
BRL 45,262,000     USD9,568,952   MS   06/03/22   (48,013)
CLP 987,688,000     USD1,200,836   MS   06/03/22   (2,007)
EUR 107,000     USD114,889   MS   06/03/22   (14)
INR 1,899,666,000     USD24,480,565   MS   06/03/22   (14,185)
MXN 752,000     USD38,387   MS   06/03/22   (184)
MYR 11,650,000     USD2,662,819   MS   06/03/22   (2,008)
TRY 8,646,000     USD527,805   MS   06/03/22   (1,957)
USD 10,590,399     BRL52,988,000   MS   06/03/22   (555,717)
USD 1,267,818     CLP1,088,550,000   MS   06/03/22   (53,435)
USD 2,417,876     EUR2,289,000   MS   06/03/22   (39,579)
USD 4,255,377     MXN87,374,000   MS   06/03/22   (183,382)
USD 7,187,892     ZAR114,058,000   MS   06/03/22   (102,122)
ZAR 99,572,000     USD6,388,544   MS   06/03/22   (24,403)
CNY 7,261,000     USD1,090,663   MS   06/07/22   (1,380)
HKD 318,456,000     USD40,596,777   MS   06/07/22   (10,225)
THB 7,137,000     USD209,569   MS   06/07/22   (988)
USD 27,607,030     KRW34,821,891,000   MS   06/07/22   (470,612)
USD 3,424,720     THB117,539,000   MS   06/07/22   (10,407)
USD 29,976,112     TWD879,993,000   MS   06/07/22   (358,387)
BRL 1,962,000     USD408,954   MS   07/07/22   (20)
CLP 11,831,000     USD14,349   MS   07/07/22   (74)
EUR 45,000     USD48,415   MS   07/07/22   (19)
HKD 499,000     USD63,666   MS   07/07/22   (18)
INR 145,067,000     USD1,861,881   MS   07/07/22   (95)
KRW 928,337,000     USD748,242   MS   07/07/22   (1,121)
MXN 3,019,000     USD152,469   MS   07/07/22   (99)
MYR 695,000     USD158,717   MS   07/07/22   (91)
TRY 904,000     USD52,665   MS   07/07/22   (44)
TWD 18,884,000     USD653,921   MS   07/07/22   (1,271)
USD 8,159,448     CNY54,563,320   MS   07/07/22   (20,215)
USD 2,095,891     EUR1,953,000   MS   07/07/22   (4,495)
USD 22,926,140     INR1,786,657,000   MS   07/07/22   (3,762)
USD 3,939,442     MXN78,183,000   MS   07/07/22   (6,500)
USD 3,187,674     THB109,429,000   MS   07/07/22   (13,158)
USD 459,906     TRY7,909,000   MS   07/07/22   (466)
USD 26,045,231     TWD753,749,000   MS   07/07/22   (5,079)
ZAR 2,512,000     USD160,494   MS   07/07/22   (609)
                     (1,936,141)
  Net unrealized depreciation     $(1,182,207)

 

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Schedule of Investments (unaudited) (continued) iShares® Currency Hedged MSCI Emerging Markets ETF
May 31, 2022  

 

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                    
Investment Companies  $164,114,026   $—   $—   $164,114,026 
Derivative financial instruments(a)                    
Assets                    
Forward Foreign Currency Exchange Contracts  $—   $753,934   $—   $753,934 
Liabilities                    
Forward Foreign Currency Exchange Contracts   —    (1,936,141)   —    (1,936,141)
   $—   $(1,182,207)  $—   $(1,182,207)
                     

 

(a)Derivative financial instruments are forward foreign currency exchange contracts. Forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

Counterparty Abbreviations

 

MS         Morgan Stanley & Co. International PLC

 

Currency Abbreviations

 

BRL Brazilian Real
CLP Chilean Peso
CNY Chinese Yuan
EUR Euro
HKD Hong Kong Dollar
INR Indian Rupee
KRW South Korean Won
MXN Mexican Peso
MYR Malaysian Ringgit
THB Thai Baht
TRY Turkish Lira
TWD New Taiwan Dollar
USD United States Dollar
ZAR South African Rand

 

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