NPORT-EX 2 NPORT_2Q1O_23914198_0522.htm

 

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

 

Security  Shares   Value 
         
Common Stocks          
           
Australia — 1.0%          
Australian Agricultural Co. Ltd.(a)   111,076   $163,763 
Costa Group Holdings Ltd.   245,646    557,834 
Elders Ltd.   82,651    791,425 
Inghams Group Ltd.   196,953    402,552 
Nufarm Ltd./Australia   200,712    759,645 
Select Harvests Ltd.   63,900    269,735 
Tassal Group Ltd.   113,451    299,407 
         3,244,361 
Brazil — 2.0%          
BrasilAgro - Co. Brasileira de Propriedades Agricolas   24,636    166,191 
Jalles Machado SA   54,306    114,839 
Sao Martinho SA   84,128    891,986 
SLC Agricola SA   61,734    712,483 
Tres Tentos Agroindustrial SA   64,672    130,635 
Yara International ASA   87,462    4,534,833 
         6,550,967 
Canada — 9.0%          
Ag Growth International Inc.   9,895    269,035 
Nutrien Ltd.   291,220    28,460,058 
Rogers Sugar Inc.   49,661    248,531 
         28,977,624 
China — 2.3%          
Asia - Potash International Investment Guangzhou          
Co. Ltd.(a)   23,900    126,311 
Beijing Dabeinong Technology Group Co. Ltd., Class A(a)   130,800    152,643 
China BlueChemical Ltd., Class H   800,000    281,426 
China Modern Dairy Holdings Ltd.   1,667,000    239,692 
China Youran Dairy Group Ltd.(a)(b)   400,000    160,036 
COFCO Joycome Foods Ltd.   1,239,000    505,970 
First Tractor Co. Ltd., Class H   206,000    100,307 
Fujian Sunner Development Co. Ltd., Class A   39,300    103,234 
Heilongjiang Agriculture Co. Ltd., Class A   56,200    141,644 
Henan Shuanghui Investment & Development Co. Ltd., Class A   110,000    466,130 
Inner Mongolia Yili Industrial Group Co. Ltd., Class A   202,700    1,151,391 
Jiangsu Yangnong Chemical Co. Ltd., Class A   9,800    216,170 
Jiangxi Zhengbang Technology Co. Ltd., Class A   101,500    94,426 
Muyuan Foods Co. Ltd., Class A.   166,866    1,277,211 
New Hope Liuhe Co. Ltd., Class A(a)   143,500    306,291 
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A   67,280    299,944 
Sinofert Holdings Ltd.   1,110,000    178,212 
Tongwei Co. Ltd., Class A   142,600    960,697 
Wens Foodstuffs Group Co. Ltd., Class A(a)   201,520    545,044 
Yuan Longping High-Tech Agriculture Co. Ltd., Class A(a)   41,300    110,955 
         7,417,734 
Egypt — 0.0%          
Misr Fertilizers Production Co. SAE.   24,126    132,558 
           
France — 0.1%          
Vilmorin & Cie SA   3,017    139,759 
           
Germany — 1.2%          
K+S AG, Registered   101,105    2,843,807 
KWS Saat SE & Co. KGaA   6,120    405,239 
Suedzucker AG   37,813    504,433 
         3,753,479 
Hong Kong — 1.1%          
WH Group Ltd.(b)   4,405,500    3,368,740 
Security  Shares   Value 
         
India — 3.5%          
Balrampur Chini Mills Ltd.   64,974   $336,979 
Bayer CropScience Ltd.   7,138    496,097 
Chambal Fertilisers and Chemicals Ltd.   87,654    408,948 
Coromandel International Ltd.   61,688    748,425 
Deepak Fertilisers & Petrochemicals Corp. Ltd.   28,454    236,189 
EID Parry India Ltd.   42,415    302,718 
Gujarat Ambuja Exports Ltd.   36,862    159,772 
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.   40,848    347,727 
Gujarat State Fertilizers & Chemicals Ltd.   103,342    220,819 
Kaveri Seed Co. Ltd.   10,585    78,382 
PI Industries Ltd.   40,084    1,419,647 
Rallis India Ltd.   40,326    103,858 
Rashtriya Chemicals & Fertilizers Ltd.   74,710    92,093 
Sharda Cropchem Ltd.   14,526    134,434 
Shree Renuka Sugars Ltd.(a)   312,237    187,967 
Sumitomo Chemical India Ltd.   52,145    309,316 
Tata Consumer Products Ltd.   292,080    2,845,536 
Triveni Engineering & Industries Ltd.   37,635    141,136 
UPL Ltd.   262,339    2,627,341 
         11,197,384 
Indonesia — 0.7%          
Astra Agro Lestari Tbk PT   250,700    206,357 
Charoen Pokphand Indonesia Tbk PT   3,901,300    1,445,160 
Inti Agri Resources Tbk PT(a)(c)   2,230,700    — 
Japfa Comfeed Indonesia Tbk PT   2,804,900    273,824 
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT   1,616,500    157,919 
Sawit Sumbermas Sarana Tbk PT   1,777,500    160,856 
         2,244,116 
Ireland — 0.1%          
Origin Enterprises PLC.   66,654    318,959 
           
Israel — 1.6%          
ICL Group Ltd.   373,958    4,177,478 
Israel Corp. Ltd. (The)(a)   2,037    1,102,659 
         5,280,137 
Japan — 4.1%          
Hokuto Corp.   10,700    158,151 
Kubota Corp.   538,900    9,945,925 
Kumiai Chemical Industry Co. Ltd.   38,900    304,014 
Maruha Nichiro Corp.   22,300    387,657 
Mitsui DM Sugar Holdings Co. Ltd.   8,600    124,044 
NH Foods Ltd.   43,500    1,325,882 
Prima Meat Packers Ltd.   12,000    196,590 
Sakata Seed Corp.   15,100    520,339 
YAMABIKO Corp.   17,700    162,464 
         13,125,066 
Malaysia — 1.6%          
Genting Plantations Bhd   142,500    247,345 
IOI Corp. Bhd.   1,328,100    1,304,289 
Kuala Lumpur Kepong Bhd   228,300    1,332,727 
QL Resources Bhd.   575,807    674,635 
Sime Darby Plantation Bhd   1,097,000    1,258,066 
TSH Resources Bhd   291,000    83,741 
United Plantations Bhd   55,600    186,025 
         5,086,828 
Netherlands — 3.1%          
CNH Industrial NV   540,548    8,079,702 

 

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

 

Security  Shares   Value 
         
Netherlands (continued)          
OCI NV(a)   55,663   $1,954,520 
         10,034,222 
Norway — 3.8%          
Austevoll Seafood ASA   48,029    646,053 
Bakkafrost P/F   26,565    1,768,852 
Grieg Seafood ASA(a)   24,049    358,331 
Leroy Seafood Group ASA   141,793    1,114,582 
Mowi ASA   218,527    5,703,935 
Norway Royal Salmon ASA(d)   6,953    187,519 
Salmar ASA   31,115    2,306,236 
         12,085,508 
Poland — 0.1%          
Grupa Azoty SA(a)   26,113    308,828 
           
Russia — 0.0%          
PhosAgro PJSC(c)   136    — 
PhosAgro PJSC, GDR(c)   21,116    210 
Ros Agro PLC, GDR(c)   5,334    1 
         211 
Saudi Arabia — 2.1%          
Al Jouf Agricultural Development Co.(a)   7,568    103,854 
Almarai Co. JSC   131,921    1,927,855 
National Agriculture Development Co. (The)(a)   26,534    218,443 
SABIC Agri-Nutrients Co.   113,157    4,431,854 
Saudi Fisheries Co.(a)   10,411    100,936 
         6,782,942 
Singapore — 1.4%          
Bumitama Agri Ltd.   189,300    100,173 
China XLX Fertiliser Ltd.   268,000    221,540 
First Resources Ltd.   293,600    415,352 
Golden Agri-Resources Ltd.(d)   3,379,500    701,114 
Japfa Ltd.(d)   217,740    96,604 
Wilmar International Ltd.   1,013,700    3,084,093 
         4,618,876 
South Africa — 0.1%          
Astral Foods Ltd.   20,339    249,899 
Oceana Group Ltd.   44,637    161,014 
         410,913 
South Korea — 0.2%          
Dongwon Industries Co. Ltd.   581    111,357 
Harim Holdings Co. Ltd.   24,484    205,038 
Hyundai Feed Inc.   971    107,601 
Namhae Chemical Corp.   11,770    120,431 
         544,427 
Sweden — 0.6%          
Husqvarna AB, Class B   221,053    1,994,867 
           
Taiwan — 0.5%          
Charoen Pokphand Enterprise   85,000    239,191 
Sesoda Corp.   86,000    163,259 
Taiwan Fertilizer Co. Ltd.   389,000    932,546 
Taiwan TEA Corp.(a)   274,000    178,190 
         1,513,186 
Thailand — 0.6%          
Charoen Pokphand Foods PCL, NVDR   2,048,100    1,553,047 
GFPT PCL, NVDR   231,000    112,634 
Khon Kaen Sugar Industry PCL, NVDR(d)   1,044,854    118,287 
Security  Shares   Value 
         
Thailand (continued)          
Thaifoods Group PCL, NVDR(d)   589,100   $88,543 
         1,872,511 
Turkey — 0.2%          
Gubre Fabrikalari TAS(a)(d)   26,119    122,130 
Hektas Ticaret TAS(a)   203,510    388,182 
Turk Traktor ve Ziraat Makineleri AS   7,025    103,789 
         614,101 
United Kingdom — 0.3%          
Cranswick PLC   27,931    1,072,266 
           
United States — 55.8%          
AGCO Corp.   33,469    4,288,383 
American Vanguard Corp.(d)   14,658    361,759 
AppHarvest Inc.(a)(d)   38,209    120,740 
Archer-Daniels-Midland Co.   296,959    26,969,816 
Benson Hill Inc.(a)   60,130    208,050 
Bunge Ltd.   74,641    8,831,523 
Cal-Maine Foods Inc.   19,686    939,613 
CF Industries Holdings Inc.(d)   109,507    10,816,006 
Corteva Inc.(d)   384,041    24,048,647 
Darling Ingredients Inc.(a)   85,350    6,833,975 
Deere & Co.   153,953    55,081,304 
FMC Corp.   66,399    8,139,189 
Fresh Del Monte Produce Inc.   20,151    514,657 
Hydrofarm Holdings Group Inc.(a)   15,557    107,188 
Ingredion Inc.   35,204    3,333,467 
Intrepid Potash Inc.(a)   5,775    380,399 
Lamb Weston Holdings Inc.(d)   76,702    5,183,521 
Lindsay Corp.   5,761    725,886 
Local Bounti Corp.(a)   15,934    86,522 
Mosaic Co. (The)   194,556    12,188,933 
Pilgrim’s Pride Corp.(a)   25,683    855,758 
Sanderson Farms Inc.(d)   11,204    2,235,198 
Scotts Miracle-Gro Co. (The)   22,025    2,084,006 
Titan International Inc.(a)   26,432    481,327 
Toro Co. (The)   55,417    4,571,348 
Vital Farms Inc.(a)   10,862    107,534 
         179,494,749 
Total Common Stocks — 97.1%          
(Cost: $300,235,286)        312,185,319 
           
Preferred Stocks          
           
Chile — 2.5%          
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares, NVS   75,443    8,058,378 
           
Total Preferred Stocks — 2.5%          
(Cost: $5,487,362)        8,058,378 

 

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

 

Security  Shares   Value 
         
Short-Term Securities          
           
Money Market Funds — 4.0%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.87%(e)(f)(g)   13,016,508   $13,016,508 
           
Total Short-Term Securities — 4.0%          
(Cost: $13,016,462)        13,016,508 
           
Total Investments in Securities — 103.6%          
(Cost: $318,739,110)        333,260,205 
           
Liabilities in Excess of Other Assets — (3.6)%        (11,572,237)
           
Net Assets — 100.0%.       $321,687,968 

 

(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.

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

(d)All or a portion of this security is on loan.
(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  $1,825,834   $11,191,125(a) $—   $(481)  $30   $13,016,508    13,016,508   $61,454(b) $— 
BlackRock Cash Funds: Treasury, SL Agency Shares(c)   80,000    —    (80,000)(a)  —    —    —    —    135    — 
                  $(481)  $30   $13,016,508        $61,589   $— 
                                              
(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.

 

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                  
Euro STOXX 50 Index   10   06/17/22  $407   $14,651 
S&P 500 E-Mini Index   4   06/17/22   826    34,468 
                $49,119 

 

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

 

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Schedule of Investments (unaudited) (continued) iShares® MSCI Global Agriculture Producers ETF
May 31, 2022

 

Fair Value Measurements (continued)

 

•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  $215,687,689   $96,497,419   $211   $312,185,319 
Preferred Stocks   8,058,378    —    —    8,058,378 
Money Market Funds   13,016,508    —    —    13,016,508 
   $236,762,575   $96,497,419   $211   $333,260,205 
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $34,468   $14,651   $—   $49,119 

 

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

 

Portfolio Abbreviations - Equity

 

GDR Global Depositary Receipt
JSC Joint Stock Company
NVDR Non-Voting Depositary Receipt
NVS Non-Voting Shares
PJSC Public Joint Stock Company

 

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