NPORT-EX 2 NPORT_0BQL_20676757_0522.htm

 

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

 

Security  Shares   Value 
         
Common Stocks          
           
Belgium — 0.1%          
Proximus SADP   214,516   $3,699,557 
           
Canada — 2.4%          
Agnico Eagle Mines Ltd.   44,609    2,364,381 
BCE Inc.   101,879    5,550,446 
CGI Inc.(a)   155,673    13,300,851 
Franco-Nevada Corp.   268,738    38,016,595 
Loblaw Companies Ltd.   136,083    12,554,473 
Metro Inc.   102,909    5,683,854 
TELUS Corp.   624,676    15,631,099 
Thomson Reuters Corp.   24,778    2,452,431 
Waste Connections Inc.   106,294    13,556,737 
         109,110,867 
China — 4.4%          
Agricultural Bank of China Ltd., Class A   7,853,599    3,563,189 
Agricultural Bank of China Ltd., Class H   12,148,000    4,625,946 
Anhui Gujing Distillery Co. Ltd., Class B   166,300    2,442,833 
Bank of China Ltd., Class H   60,567,000    24,212,946 
Bank of Communications Co. Ltd., Class A   3,627,400    2,668,045 
Bank of Communications Co. Ltd., Class H   10,782,000    7,343,255 
Bank of Ningbo Co. Ltd., Class A   610,800    2,996,584 
Beijing-Shanghai High Speed Railway Co. Ltd., Class A   3,774,200    2,748,925 
China CITIC Bank Corp. Ltd., Class H   13,753,000    6,659,879 
China Conch Venture Holdings Ltd.   2,529,000    6,578,665 
China Construction Bank Corp., Class H   19,951,000    14,789,991 
China Feihe Ltd.(b)   2,481,000    2,504,024 
China Meidong Auto Holdings Ltd.   692,000    2,483,045 
China Merchants Bank Co. Ltd., Class A   1,019,000    6,036,426 
China Minsheng Banking Corp. Ltd., Class H   9,611,500    3,723,489 
China Resources Cement Holdings Ltd.   3,764,000    2,978,698 
China Shenhua Energy Co. Ltd., Class A   483,100    2,457,655 
China State Construction Engineering Corp. Ltd., Class A   3,539,400    2,918,907 
China Tourism Group Duty Free Corp. Ltd., Class A   164,800    4,335,835 
China Tower Corp. Ltd., Class H(b)   59,134,000    6,928,690 
China Yangtze Power Co. Ltd., Class A   2,097,700    7,536,592 
CITIC Securities Co. Ltd., Class A   901,908    2,666,835 
COSCO SHIPPING Holdings Co. Ltd., Class A(a)   1,167,650    2,669,950 
East Money Information Co. Ltd., Class A   1,069,660    3,614,474 
Guangdong Investment Ltd.   1,883,147    2,374,436 
Hansoh Pharmaceutical Group Co. Ltd.(b)   1,298,000    2,334,923 
Industrial & Commercial Bank of China Ltd., Class A   5,798,751    4,046,858 
Industrial & Commercial Bank of China Ltd., Class H   21,423,000    12,828,528 
Industrial Bank Co. Ltd., Class A   1,871,300    5,508,358 
Jiangsu Hengrui Medicine Co. Ltd., Class A   559,840    2,534,344 
LONGi Green Energy Technology Co. Ltd., Class A   246,280    2,901,025 
Luxshare Precision Industry Co. Ltd., Class A   491,700    2,484,801 
Ping An Bank Co. Ltd., Class A   1,637,100    3,461,647 
Postal Savings Bank of China Co. Ltd., Class H(b)   11,108,000    8,250,227 
SF Holding Co. Ltd., Class A   370,000    2,869,378 
Shanghai Pudong Development Bank Co. Ltd., Class A   2,707,400    3,217,596 
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A   102,600    4,633,084 
WuXi AppTec Co. Ltd., Class A   168,804    2,402,348 
Xiaomi Corp., Class B(a)(b)   4,327,800    6,678,592 
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A   52,200    2,414,254 
Security   Shares    Value 
           
China (continued)          
ZTO Express Cayman Inc., ADR(c)   114,309   $3,079,484 
         201,504,761 
Denmark — 0.4%          
Novo Nordisk A/S, Class B   127,517    14,160,825 
Tryg A/S   193,330    4,506,166 
         18,666,991 
Finland — 0.3%          
Elisa OYJ   218,642    12,373,619 
           
France — 0.4%          
Eurofins Scientific SE   24,485    2,285,560 
Orange SA   1,397,479    17,494,310 
         19,779,870 
Germany — 1.0%          
Deutsche Telekom AG, Registered   1,591,497    32,745,994 
QIAGEN NV(a)   82,031    3,774,809 
Symrise AG   44,941    4,966,053 
Telefonica Deutschland Holding AG   1,471,720    4,683,999 
         46,170,855 
Greece — 0.1%          
Hellenic Telecommunications Organization SA   207,517    3,935,490 
           
Hong Kong — 2.2%          
CLP Holdings Ltd.   1,446,754    14,418,806 
Hang Seng Bank Ltd.   1,073,000    18,746,916 
HK Electric Investments & HK Electric Investments Ltd., Class SS   4,075,000    3,899,894 
HKT Trust & HKT Ltd., Class SS   5,345,000    7,359,138 
Hong Kong & China Gas Co. Ltd.   12,098,579    13,679,336 
Jardine Matheson Holdings Ltd.   201,000    11,632,757 
Link REIT   1,318,200    11,919,627 
MTR Corp. Ltd.   2,380,500    12,840,420 
Power Assets Holdings Ltd.   1,232,000    8,043,969 
         102,540,863 
India — 4.3%          
ACC Ltd.   108,171    3,047,314 
Adani Green Energy Ltd.(a)   189,722    4,595,500 
Adani Total Gas Ltd.   83,582    2,582,098 
Adani Transmission Ltd.(a)   17,828    469,796 
Ambuja Cements Ltd.   915,553    4,336,869 
Asian Paints Ltd.   414,315    15,143,091 
Avenue Supermarts Ltd.(a)(b)   117,838    6,004,375 
Bajaj Auto Ltd.   65,906    3,262,655 
Berger Paints India Ltd.   372,768    2,931,862 
Bharat Petroleum Corp. Ltd.   629,058    2,635,985 
Cipla Ltd.   343,318    4,390,959 
Dabur India Ltd.   769,719    5,135,529 
Dr. Reddy's Laboratories Ltd.   59,315    3,323,631 
Eicher Motors Ltd.   173,043    6,167,572 
HCL Technologies Ltd.   866,819    11,559,559 
Hero MotoCorp Ltd.   74,732    2,653,105 
Hindustan Petroleum Corp. Ltd.   898,102    2,631,099 
Hindustan Unilever Ltd.   152,405    4,588,562 
Indian Oil Corp. Ltd.   2,647,297    3,950,381 
Infosys Ltd.   496,109    9,573,404 
Larsen & Toubro Infotech Ltd.(b)   48,240    2,630,090 
Larsen & Toubro Ltd.   194,582    4,120,311 
Maruti Suzuki India Ltd.   36,973    3,767,640 
MRF Ltd.   2,381    2,377,966 
           

 

1

 

 

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

 

Security   Shares    Value 
           
India (continued)          
Nestle India Ltd.   37,331   $8,506,869 
Petronet LNG Ltd.   1,152,875    3,366,546 
PI Industries Ltd.   115,600    4,094,183 
Pidilite Industries Ltd.   212,335    6,113,216 
SBI Cards & Payment Services Ltd.   238,460    2,386,223 
Shree Cement Ltd.   10,347    2,933,531 
Sun Pharmaceutical Industries Ltd.   395,340    4,372,341 
Tata Consultancy Services Ltd.   738,893    31,862,358 
Tech Mahindra Ltd.   351,847    5,319,649 
Torrent Pharmaceuticals Ltd.   78,194    2,852,950 
UltraTech Cement Ltd.   71,792    5,595,172 
Wipro Ltd.   568,336    3,453,933 
Wipro Ltd., ADR   946,389    5,659,406 
Yes Bank Ltd.(a)   14,905,708    2,515,087 
         200,910,817 
Indonesia — 0.1%          
Bank Central Asia Tbk PT   7,801,300    4,146,497 
           
Ireland — 0.3%          
Kerry Group PLC, Class A   117,726    12,183,490 
           
Israel — 0.4%          
Azrieli Group Ltd.   29,881    2,243,764 
Bank Hapoalim BM   416,210    3,853,893 
Bank Leumi Le-Israel BM   601,292    5,986,830 
Check Point Software Technologies Ltd.(a)   67,441    8,435,520 
Isracard Ltd.       1 
         20,520,008 
Italy — 0.2%          
Infrastrutture Wireless Italiane SpA(b)   482,944    5,382,311 
Recordati Industria Chimica e Farmaceutica SpA   85,334    3,824,003 
         9,206,314 
Japan — 10.1%          
Canon Inc.   945,600    24,014,281 
Capcom Co. Ltd.   78,200    2,201,319 
Chubu Electric Power Co. Inc.   355,500    3,576,891 
Chugai Pharmaceutical Co. Ltd.   526,100    14,382,604 
CyberAgent Inc.   211,700    2,270,693 
East Japan Railway Co.   69,200    3,547,606 
ENEOS Holdings Inc.   2,680,800    10,853,559 
FUJIFILM Holdings Corp.   167,000    9,198,242 
Hamamatsu Photonics KK   196,300    9,140,983 
Hankyu Hanshin Holdings Inc.   83,400    2,236,628 
Hirose Electric Co. Ltd.   46,100    6,389,782 
Hitachi Metals Ltd.(a)   330,300    5,308,507 
ITOCHU Corp.   890,900    25,570,944 
Itochu Techno-Solutions Corp.   92,800    2,308,232 
Japan Post Bank Co. Ltd.(c)   634,100    4,885,181 
KDDI Corp.   522,300    18,221,002 
Keio Corp.   115,400    3,854,915 
Keyence Corp.   35,400    14,074,198 
Kintetsu Group Holdings Co. Ltd.   162,400    4,745,007 
Kirin Holdings Co. Ltd.   151,700    2,346,568 
Koei Tecmo Holdings Co. Ltd.   82,900    2,937,044 
McDonald's Holdings Co. Japan Ltd.   132,900    5,172,266 
MEIJI Holdings Co. Ltd.   93,700    4,616,731 
Mizuho Financial Group Inc.   1,732,900    20,609,670 
MonotaRO Co. Ltd.   352,500    5,146,524 
NEC Corp.   126,500    5,081,238 
Nintendo Co. Ltd.   34,800    15,537,796 
Security   Shares    Value 
           
Japan (continued)          
Nippon Prologis REIT Inc.   2,884   $7,696,313 
Nippon Shinyaku Co. Ltd.   37,100    2,296,866 
Nippon Telegraph & Telephone Corp.   1,013,300    30,958,750 
Nissin Foods Holdings Co. Ltd.   33,300    2,177,913 
Nitori Holdings Co. Ltd.   101,300    10,206,125 
Nomura Research Institute Ltd.   133,690    3,656,612 
NTT Data Corp.   625,000    9,779,133 
Obic Co. Ltd.   86,000    12,670,535 
Odakyu Electric Railway Co. Ltd.   159,300    2,101,858 
Ono Pharmaceutical Co. Ltd.   458,000    12,126,371 
Oracle Corp. Japan(a)   59,200    3,583,978 
Oriental Land Co. Ltd./Japan   45,600    6,776,539 
Osaka Gas Co. Ltd.   577,600    10,795,088 
Otsuka Corp.   75,500    2,387,734 
Otsuka Holdings Co. Ltd.   392,100    13,063,401 
Pan Pacific International Holdings Corp.   492,900    7,562,344 
Secom Co. Ltd.   269,300    17,734,405 
SG Holdings Co. Ltd.   265,500    4,787,824 
Shimano Inc.   48,300    8,466,955 
SoftBank Corp.   3,091,100    35,611,519 
Suntory Beverage & Food Ltd.   195,200    7,320,058 
TIS Inc.   348,200    9,128,636 
Tobu Railway Co. Ltd.   266,000    5,965,001 
Toho Co. Ltd./Tokyo   143,300    5,647,913 
USS Co. Ltd.   277,000    5,038,398 
Welcia Holdings Co. Ltd.   145,000    2,918,752 
         468,687,432 
Kuwait — 0.3%          
Mobile Telecommunications Co. KSCP   3,041,947    6,255,940 
National Bank of Kuwait SAKP   1,902,987    6,442,009 
         12,697,949 
Malaysia — 0.5%          
DiGi.Com Bhd   2,868,900    2,310,950 
Hong Leong Bank Bhd   880,700    4,233,421 
IHH Healthcare Bhd   2,554,000    3,903,566 
Malayan Banking Bhd   2,691,500    5,589,661 
Maxis Bhd   2,868,700    2,483,539 
Petronas Chemicals Group Bhd   1,248,200    2,922,706 
Petronas Gas Bhd   631,300    2,492,398 
         23,936,241 
Netherlands — 0.4%          
Koninklijke Ahold Delhaize NV   555,104    15,307,170 
Koninklijke KPN NV   1,564,502    5,694,743 
         21,001,913 
New Zealand — 0.1%          
Spark New Zealand Ltd.   1,627,898    5,148,908 
           
Peru — 0.1%          
Credicorp Ltd.   20,590    2,890,424 
           
Philippines — 0.2%          
BDO Unibank Inc.   2,422,849    6,163,747 
Globe Telecom Inc.   1,145    52,950 
PLDT Inc.   109,340    3,965,564 
         10,182,261 
Qatar — 0.4%          
Industries Qatar QSC   554,413    2,776,429 
Qatar Islamic Bank SAQ   499,334    3,165,058 

 

2

 

 

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

 

Security   Shares    Value 
           
Qatar (continued)          
Qatar National Bank QPSC   1,825,319   $10,759,614 
         16,701,101 
Russia — 0.0%          
PhosAgro PJSC(d)   809     
PhosAgro PJSC, GDR(d)   125,591    1,248 
Polymetal International PLC(d)   250,942    40 
Polyus PJSC(d)   53,523    9 
         1,297 
Saudi Arabia — 1.5%          
Alinma Bank   475,387    4,872,108 
Bank AlBilad(a)   419,546    5,598,649 
Jarir Marketing Co.   90,385    3,904,881 
SABIC Agri-Nutrients Co.   278,497    10,907,484 
Saudi Arabian Oil Co.(b)   1,717,124    19,175,652 
Saudi Basic Industries Corp.   304,082    9,289,992 
Saudi Telecom Co.   574,959    15,755,407 
         69,504,173 
Singapore — 1.0%          
Oversea-Chinese Banking Corp. Ltd.(c)   466,000    4,020,174 
Singapore Exchange Ltd.   1,183,200    8,202,956 
Singapore Technologies Engineering Ltd.   1,637,200    4,911,421 
Singapore Telecommunications Ltd.   11,044,500    20,815,930 
UOL Group Ltd.   715,300    3,889,628 
Venture Corp. Ltd.   367,600    4,808,140 
         46,648,249 
South Korea — 0.1%          
HMM Co. Ltd.   97,197    2,549,339 
           
Sweden — 0.2%          
Telefonaktiebolaget LM Ericsson, Class B   657,027    5,335,475 
Telia Co. AB   655,231    2,686,749 
         8,022,224 
Switzerland — 6.2%          
EMS-Chemie Holding AG, Registered   9,770    8,386,722 
Givaudan SA, Registered   7,922    29,141,483 
Kuehne + Nagel International AG, Registered   76,414    20,207,508 
Logitech International SA, Registered   195,800    11,977,087 
Nestle SA, Registered   494,499    60,485,736 
Novartis AG, Registered   424,354    38,548,226 
Roche Holding AG, Bearer   21,858    8,543,688 
Roche Holding AG, NVS   186,462    63,544,559 
Schindler Holding AG, Registered   28,294    5,677,877 
SGS SA, Registered   2,769    6,885,165 
Swiss Prime Site AG, Registered   118,006    11,882,830 
Swisscom AG, Registered   39,816    23,546,153 
         288,827,034 
Taiwan — 5.4%          
Acer Inc.   3,813,000    3,797,813 
Advantech Co. Ltd.   545,482    6,731,699 
Asia Cement Corp.   3,090,000    4,711,460 
Asustek Computer Inc.   1,085,000    12,703,189 
Catcher Technology Co. Ltd.   543,000    3,068,114 
Chang Hwa Commercial Bank Ltd.   6,070,345    3,778,116 
China Steel Corp.   7,127,000    8,471,863 
Chunghwa Telecom Co. Ltd.   5,844,000    25,398,632 
Compal Electronics Inc.   5,901,000    4,661,048 
CTBC Financial Holding Co. Ltd.   3,479,000    3,230,704 
E.Sun Financial Holding Co. Ltd.   8,596,377    9,008,796 
Far EasTone Telecommunications Co. Ltd.   2,455,000    6,720,908 
Security   Shares    Value 
           
Taiwan (continued)          
First Financial Holding Co. Ltd.   14,575,644   $13,673,821 
Formosa Chemicals & Fibre Corp.   5,183,000    14,642,756 
Formosa Petrochemical Corp.   1,760,000    5,853,076 
Hua Nan Financial Holdings Co. Ltd.   12,060,932    9,838,072 
Inventec Corp.   3,860,000    3,412,734 
Lite-On Technology Corp.   3,065,000    6,630,653 
Mega Financial Holding Co. Ltd.   15,270,000    20,286,004 
Nan Ya Plastics Corp.   975,000    2,851,959 
Novatek Microelectronics Corp.   278,000    3,850,932 
Pegatron Corp.   2,944,000    7,059,514 
Powerchip Semiconductor Manufacturing Corp.   1,970,000    3,923,032 
President Chain Store Corp.   578,000    5,470,256 
Quanta Computer Inc.   3,703,000    10,104,697 
Synnex Technology International Corp.   1,876,250    4,514,397 
Taishin Financial Holding Co. Ltd.   8,853,694    5,444,327 
Taiwan Cooperative Financial Holding Co. Ltd.   13,279,457    12,813,638 
Taiwan High Speed Rail Corp.   3,034,000    2,895,497 
Taiwan Mobile Co. Ltd.   2,651,000    9,850,948 
Taiwan Semiconductor Manufacturing Co. Ltd.   514,000    9,720,215 
WPG Holdings Ltd.   2,451,760    4,446,473 
         249,565,343 
Thailand — 0.6%          
Advanced Info Service PCL, NVDR   1,672,900    10,597,278 
Airports of Thailand PCL, NVDR(a)   1,131,300    2,305,908 
Bangkok Dusit Medical Services PCL, NVDR   6,904,200    5,193,975 
Bangkok Expressway & Metro PCL, NVDR   9,312,000    2,489,912 
BTS Group Holdings PCL, NVDR   12,166,000    3,164,155 
Bumrungrad Hospital PCL, NVDR   630,200    3,213,525 
Home Product Center PCL, NVDR   7,029,900    3,051,171 
         30,015,924 
United Arab Emirates — 0.4%          
Abu Dhabi National Oil Co. for Distribution PJSC   3,443,740    3,928,031 
Emirates Telecommunications Group Co. PJSC   1,984,386    16,378,276 
         20,306,307 
United Kingdom — 0.1%          
AstraZeneca PLC   31,165    4,118,881 
           
United States — 55.2%          
Abbott Laboratories   86,266    10,132,804 
Accenture PLC, Class A   35,975    10,737,098 
Activision Blizzard Inc.   179,539    13,982,497 
Adobe Inc.(a)   11,848    4,934,455 
Akamai Technologies Inc.(a)   152,046    15,362,728 
Amazon.com Inc.(a)   4,315    10,374,080 
Ameren Corp.   59,391    5,653,429 
American Electric Power Co. Inc.   172,072    17,556,506 
American Tower Corp.   20,460    5,240,420 
American Water Works Co. Inc.   89,263    13,501,029 
Amgen Inc.   49,430    12,690,658 
Amphenol Corp., Class A   187,518    13,287,525 
Annaly Capital Management Inc.   354,851    2,345,565 
Aon PLC, Class A   47,146    12,996,738 
Arthur J Gallagher & Co.   56,206    9,102,000 
AT&T Inc.   586,104    12,478,154 
Automatic Data Processing Inc.   88,754    19,786,817 
AutoZone Inc.(a)   12,243    25,216,295 
Baxter International Inc.   148,200    11,270,610 
Becton Dickinson and Co.   55,733    14,256,501 
Berkshire Hathaway Inc., Class B(a)   86,961    27,477,937 

 

3

 

 

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

 

Security   Shares    Value 
           
United States (continued)          
BioMarin Pharmaceutical Inc.(a)(c)   144,668   $10,868,907 
Bio-Rad Laboratories Inc., Class A(a)   4,243    2,281,843 
Black Knight Inc.(a)   158,256    10,747,165 
Booz Allen Hamilton Holding Corp.   121,681    10,447,531 
Bristol-Myers Squibb Co.   497,804    37,559,312 
Broadridge Financial Solutions Inc.   111,131    16,249,575 
Brown & Brown Inc.   135,215    8,027,715 
Campbell Soup Co.   141,351    6,772,126 
Cboe Global Markets Inc.   109,592    12,308,278 
Cerner Corp.   234,642    22,255,794 
CH Robinson Worldwide Inc.   185,216    20,097,788 
Charter Communications Inc., Class A(a)(c)   18,937    9,599,733 
Church & Dwight Co. Inc.(c)   194,427    17,510,096 
Cisco Systems Inc.   635,162    28,614,048 
Citrix Systems Inc.   174,699    17,590,442 
Clorox Co. (The)   125,537    18,248,058 
CME Group Inc.   52,457    10,430,025 
CMS Energy Corp.   119,819    8,511,942 
Cognizant Technology Solutions Corp., Class A   40,036    2,990,689 
Colgate-Palmolive Co.   156,907    12,365,841 
Comcast Corp., Class A   269,991    11,955,201 
Consolidated Edison Inc.   496,934    49,325,669 
Cooper Companies Inc. (The)   10,513    3,687,330 
Costco Wholesale Corp.   24,302    11,330,078 
Crown Castle International Corp.   88,855    16,851,351 
Danaher Corp.   68,489    18,068,768 
Dollar General Corp.   182,228    40,152,117 
Dominion Energy Inc.   308,789    26,006,210 
Domino’s Pizza Inc.   40,388    14,667,710 
Duke Energy Corp.   365,011    41,071,038 
Electronic Arts Inc.   191,304    26,524,300 
Eli Lilly & Co.   113,731    35,647,845 
Erie Indemnity Co., Class A, NVS   35,375    5,934,156 
Evergy Inc.   51,807    3,623,382 
Eversource Energy   85,570    7,899,822 
Expeditors International of Washington Inc.   238,365    25,943,647 
F5 Inc.(a)   34,919    5,693,194 
Fidelity National Information Services Inc.   46,896    4,900,632 
Fiserv Inc.(a)   126,515    12,674,273 
General Mills Inc.   162,454    11,347,412 
Genuine Parts Co.   18,219    2,491,084 
Gilead Sciences Inc.   679,105    44,039,959 
Henry Schein Inc.(a)   42,159    3,610,497 
Hershey Co. (The)(c)   181,793    38,487,396 
Hologic Inc.(a)   28,481    2,143,765 
Home Depot Inc. (The)   58,188    17,616,417 
Horizon Therapeutics PLC(a)   80,475    7,217,803 
Hormel Foods Corp.   419,253    20,405,043 
Humana Inc.   13,471    6,118,932 
Incyte Corp.(a)   289,302    21,955,129 
Intel Corp.   52,856    2,347,864 
Intercontinental Exchange Inc.   63,798    6,532,277 
International Business Machines Corp.   56,830    7,890,277 
Jack Henry & Associates Inc.   104,080    19,579,530 
JM Smucker Co. (The)   76,977    9,650,606 
Johnson & Johnson   381,286    68,452,276 
Juniper Networks Inc.   104,077    3,193,082 
Kellogg Co.   270,195    18,843,399 
Keurig Dr Pepper Inc.   536,148    18,625,781 
Keysight Technologies Inc.(a)   258,745    37,673,272 
Security   Shares    Value 
           
United States (continued)          
Kimberly-Clark Corp.   114,801   $15,270,829 
Kroger Co. (The)   855,464    45,313,928 
Liberty Broadband Corp., Class C, NVS(a)(c)   170,820    21,381,539 
MarketAxess Holdings Inc.   11,148    3,140,169 
Marsh & McLennan Companies Inc.   199,887    31,971,926 
Mastercard Inc., Class A   38,759    13,870,683 
McCormick & Co. Inc./MD, NVS   226,430    20,994,590 
McDonald’s Corp.   171,326    43,210,130 
Medtronic PLC   125,657    12,584,549 
Merck & Co. Inc.   629,814    57,961,782 
Microsoft Corp.   67,287    18,293,317 
Mondelez International Inc., Class A   82,526    5,245,353 
Motorola Solutions Inc.   193,642    42,550,893 
Neurocrine Biosciences Inc.(a)   115,035    10,754,622 
Newmont Corp.   912,036    61,881,643 
NextEra Energy Inc.   132,701    10,044,139 
NortonLifeLock Inc.   236,616    5,759,233 
Old Dominion Freight Line Inc.   10,332    2,668,136 
Oracle Corp.   161,136    11,588,901 
O’Reilly Automotive Inc.(a)   23,040    14,680,397 
Paychex Inc.   343,440    42,528,175 
PepsiCo Inc.   327,511    54,939,970 
Pfizer Inc.   412,012    21,853,116 
Pool Corp.   8,379    3,340,037 
Procter & Gamble Co. (The)   245,415    36,291,970 
Progressive Corp. (The)   156,336    18,663,392 
Public Storage   101,874    33,683,619 
Quest Diagnostics Inc.   47,703    6,727,077 
Regeneron Pharmaceuticals Inc.(a)   75,931    50,474,373 
Republic Services Inc.   312,673    41,848,154 
Rollins Inc.   212,112    7,521,492 
Roper Technologies Inc.   5,385    2,382,539 
SBA Communications Corp.   8,670    2,918,409 
Seagen Inc.(a)   124,390    16,877,235 
Southern Co. (The)   462,969    35,028,235 
Target Corp.   122,030    19,754,216 
T-Mobile U.S. Inc.(a)   279,046    37,194,041 
Tradeweb Markets Inc., Class A   82,548    5,581,070 
United Parcel Service Inc., Class B   13,267    2,417,911 
UnitedHealth Group Inc.   28,195    14,006,712 
VeriSign Inc.(a)   107,807    18,817,712 
Verizon Communications Inc.   1,356,310    69,565,140 
Vertex Pharmaceuticals Inc.(a)   163,624    43,957,588 
Visa Inc., Class A   95,899    20,346,891 
Walmart Inc.   361,823    46,541,292 
Waste Management Inc.   436,341    69,164,412 
WEC Energy Group Inc.   377,746    39,689,772 
West Pharmaceutical Services Inc.   24,355    7,559,305 
Western Union Co. (The)   571,551    10,367,935 
Xcel Energy Inc.   526,892    39,696,043 
         2,550,943,870 
Total Common Stocks — 99.4%          
(Cost: $4,041,124,050)       4,596,498,869 

 

4

 

 

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

 

Security   Shares    Value 
           
Short-Term Securities          
           
Money Market Funds — 0.6%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.87%(e)(f)(g)   30,659,705   $30,659,705 
           
Total Short-Term Securities — 0.6%          
(Cost: $30,658,061)       30,659,705 
           
Total Investments in Securities — 100.0%          
(Cost: $4,071,782,111)       4,627,158,574 
           
Liabilities in Excess of Other Assets — (0.0)%       (2,064,133)
           
Net Assets — 100.0%      $4,625,094,441 
           
(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)All or a portion of this security is on loan.

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

(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  $8,628,779   $22,039,634(a)  $   $(1,667)  $(7,041)  $30,659,705    30,659,705   $32,923(b)  $ 
BlackRock Cash Funds: Treasury, SL Agency Shares(c)   9,940,000        (9,940,000)(a)                   6,156     
                  $(1,667)  $(7,041)  $30,659,705        $39,079   $ 

 

(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                    
MSCI EAFE Index   40    06/17/22   $4,074   $(32,758)
MSCI Emerging Markets Index   39    06/17/22    2,073    (9,236)
S&P 500 E-Mini Index   37    06/17/22    7,643    (262,982)
2-Year U.S. Treasury Note   9    09/30/22    1,900    2,729 
                  $(302,247)

 

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;

 

5

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Global Min Vol Factor ETF
May 31, 2022  

 

Fair Value Measurements (continued)

 

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  $2,707,256,609   $1,889,240,963   $1,297   $4,596,498,869 
Money Market Funds   30,659,705            30,659,705 
   $2,737,916,314   $1,889,240,963   $1,297   $4,627,158,574 
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $2,729   $   $   $2,729 
Liabilities                    
Futures Contracts   (304,976)           (304,976)
   $(302,247)  $   $   $(302,247)

 

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

 

Portfolio Abbreviations - Equity

 

ADR American Depositary Receipt
GDR Global Depositary Receipt
NVDR Non-Voting Depositary Receipt
NVS Non-Voting Shares
PJSC Public Joint Stock Company
REIT Real Estate Investment Trust

 

6