NPORT-EX 2 NPORT_0BHX_49909629_0522.htm

 

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

 

Security  Shares   Value 
Common Stocks          
           
Aerospace & Defense — 0.4%          
CAE Inc.(a)   730,755   $18,250,821 
           
Airlines — 0.2%          
Air Canada(a)(b)   402,861    7,067,625 
           
Auto Components — 0.9%          
Magna International Inc.   661,705    42,940,069 
           
Banks — 26.0%          
Bank of Montreal   1,500,997    163,277,999 
Bank of Nova Scotia (The)   2,814,806    190,895,410 
Canadian Imperial Bank of Commerce   2,088,647    114,897,465 
National Bank of Canada   783,480    60,133,801 
Royal Bank of Canada   3,279,967    342,738,853 
Toronto-Dominion Bank (The)   4,219,908    322,485,913 
         1,194,429,441 
Capital Markets — 4.0%          
Brookfield Asset Management Inc., Class A   3,268,833    165,295,931 
IGM Financial Inc.   192,350    5,924,779 
TMX Group Ltd.   128,640    13,997,488 
         185,218,198 
Chemicals — 2.7%          
Nutrien Ltd.   1,277,654    124,861,297 
           
Commercial Services & Supplies — 0.8%          
GFL Environmental Inc.   414,750    12,657,114 
Nuvei Corp.(a)(c)   153,424    7,856,483 
Ritchie Bros Auctioneers Inc.   256,199    15,420,350 
         35,933,947 
Construction & Engineering — 0.6%          
WSP Global Inc.   271,101    29,925,384 
           
Containers & Packaging — 0.4%          
CCL Industries Inc., Class B, NVS   350,920    16,846,158 
           
Diversified Financial Services — 0.2%          
Onex Corp.   171,296    10,220,745 
           
Diversified Telecommunication Services — 0.8%          
BCE Inc.   167,021    9,099,432 
TELUS Corp.   1,051,560    26,312,902 
         35,412,334 
Electric Utilities — 2.3%          
Emera Inc.   604,848    30,064,271 
Fortis Inc.   1,091,206    55,032,637 
Hydro One Ltd.(c)   759,473    21,183,704 
         106,280,612 
Equity Real Estate Investment Trusts (REITs) — 0.3%      
Canadian Apartment Properties REIT   199,904    7,823,258 
RioCan REIT   357,173    6,424,229 
         14,247,487 
Food & Staples Retailing — 4.1%          
Alimentation Couche-Tard Inc.   1,962,644    89,175,120 
Empire Co. Ltd., Class A, NVS   381,718    12,509,160 
George Weston Ltd.   170,124    20,879,986 
Loblaw Companies Ltd.   386,134    35,623,178 
Metro Inc.   558,123    30,826,163 
         189,013,607 

 

Security  Shares   Value 
Food Products — 0.3%          
Saputo Inc.   576,888   $11,598,420 
           
Gas Utilities — 0.3%          
AltaGas Ltd.   649,431    15,680,612 
           
Hotels, Restaurants & Leisure — 0.8%          
Restaurant Brands International Inc.   680,803    35,750,433 
           
Independent Power and Renewable Electricity Producers — 0.6%          
Brookfield Renewable Corp., Class A   296,654    10,685,501 
Northland Power Inc.   525,412    15,934,541 
         26,620,042 
Insurance — 6.7%          
Fairfax Financial Holdings Ltd.   57,588    31,960,350 
Great-West Lifeco Inc.   644,483    17,685,895 
iA Financial Corp. Inc.   247,253    12,839,133 
Intact Financial Corp.   407,803    58,920,819 
Manulife Financial Corp.   4,499,434    83,347,226 
Power Corp. of Canada   1,295,664    37,419,936 
Sun Life Financial Inc.   1,356,867    66,274,454 
         308,447,813 
IT Services — 3.1%          
CGI Inc.(a)   506,438    43,270,550 
Shopify Inc., Class A(a)   263,906    99,075,593 
         142,346,143 
Leisure Products — 0.1%          
BRP Inc.   86,609    6,732,337 
           
Media — 0.9%          
Quebecor Inc., Class B   384,095    8,715,284 
Shaw Communications Inc., Class B, NVS   1,103,124    31,257,433 
         39,972,717 
Metals & Mining — 8.2%          
Agnico Eagle Mines Ltd.   1,056,965    56,021,610 
Barrick Gold Corp.   4,121,058    84,418,400 
First Quantum Minerals Ltd.(b)   1,360,641    39,393,346 
Franco-Nevada Corp.   442,786    62,638,019 
Ivanhoe Mines Ltd., Class A(a)   1,388,603    10,583,178 
Kinross Gold Corp.   2,879,899    12,932,622 
Lundin Mining Corp.   1,520,050    13,531,852 
Pan American Silver Corp.   483,201    10,627,862 
Teck Resources Ltd., Class B   1,098,246    45,532,688 
Wheaton Precious Metals Corp.   1,044,180    43,126,033 
         378,805,610 
Multi-Utilities — 0.7%          
Algonquin Power & Utilities Corp.   1,550,482    22,555,140 
Canadian Utilities Ltd., Class A, NVS   293,539    9,313,136 
         31,868,276 
Multiline Retail — 1.2%          
Canadian Tire Corp. Ltd., Class A, NVS   130,705    17,957,794 
Dollarama Inc.   655,498    38,018,210 
         55,976,004 
Oil, Gas & Consumable Fuels — 20.3%          
ARC Resources Ltd.   1,561,986    23,525,187 
Cameco Corp.   918,150    22,495,528 
Canadian Natural Resources Ltd.   2,725,593    180,384,544 
Cenovus Energy Inc.   3,231,205    74,901,317 
Enbridge Inc.   4,692,975    216,792,924 
Imperial Oil Ltd.   542,802    29,731,053 
Keyera Corp.   507,812    13,533,891 


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

 

Security  Shares   Value 
Oil, Gas & Consumable Fuels (continued)          
Parkland Corp.(b)   355,590   $10,587,437 
Pembina Pipeline Corp.   1,274,624    51,394,097 
Suncor Energy Inc.   3,316,359    133,430,454 
TC Energy Corp.   2,272,064    131,507,930 
Tourmaline Oil Corp.   726,313    44,835,766 
         933,120,128 
Paper & Forest Products — 0.4%          
West Fraser Timber Co. Ltd.(b)   180,258    16,631,307 
           
Pharmaceuticals — 0.1%          
Bausch Health Companies Inc.(a)   626,151    6,084,038 
           
Professional Services — 0.8%          
Thomson Reuters Corp.   392,500    38,848,144 
           
Real Estate Management & Development — 0.3%          
FirstService Corp.   90,770    11,623,526 
           
Road & Rail — 7.1%          
Canadian National Railway Co.   1,382,349    157,180,245 
Canadian Pacific Railway Ltd.   2,153,260    153,640,127 
TFI International Inc.   192,682    15,823,125 
         326,643,497 
Software — 2.5%          
BlackBerry Ltd.(a)   1,261,937    7,602,451 
Constellation Software Inc.   46,624    73,381,240 
Lightspeed Commerce Inc.(a)   308,393    8,019,169 
Open Text Corp.   626,671    25,684,172 
         114,687,032 
Textiles, Apparel & Luxury Goods — 0.3%          
Gildan Activewear Inc.   445,603    14,035,517 
           
Trading Companies & Distributors — 0.4%          
Toromont Industries Ltd.   191,286    16,966,736 

 

Security  Shares   Value 
Wireless Telecommunication Services — 0.9%          
Rogers Communications Inc., Class B, NVS   820,768   $42,094,493 
           
Total Common Stocks — 99.7%          
(Cost: $4,581,405,310)       4,585,180,550 
           
Short-Term Securities          
           
Money Market Funds — 0.8%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.87%(d)(e)(f)   36,596,515    36,596,515 
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.72%(d)(e)   2,090,000    2,090,000 
         38,686,515 
Total Short-Term Securities — 0.8%          
(Cost: $38,682,249)        38,686,515 
           
Total Investments in Securities — 100.5%          
(Cost: $4,620,087,559)        4,623,867,065 
           
Liabilities in Excess of Other Assets — (0.5)%        (22,792,158)
           
Net Assets — 100.0%       $4,601,074,907 

 

(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)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  $9,373,472   $27,226,501(a)  $—   $(7,724)  $4,266   $36,596,515    36,596,515   $109,251(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   1,600,000    490,000(a)   —    —    —    2,090,000    2,090,000    2,375    — 
                  $(7,724)  $4,266   $38,686,515        $111,626   $— 

 

(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 Canada 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                  
S&P/TSX 60 Index   80   06/16/22  $15,856   $(107,222)

 

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  $4,585,180,550   $—   $—   $4,585,180,550 
Money Market Funds   38,686,515    —    —    38,686,515 
   $4,623,867,065   $—   $—   $4,623,867,065 
Derivative financial instruments(a)                    
Liabilities                    
Futures Contracts  $(107,222)  $—   $—   $(107,222)

 

(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
REIT Real Estate Investment Trust

 

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