NPORT-EX 2 NPORT_0BI0_82508605_1122.htm

 

Schedule of Investments (unaudited) iShares® MSCI Germany ETF
November 30, 2022 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Aerospace & Defense — 1.7%          
MTU Aero Engines AG   59,782   $12,605,818 
Rheinmetall AG   48,648    9,942,437 
         22,548,255 
Air Freight & Logistics — 3.3%          
Deutsche Post AG, Registered   1,112,060    44,424,839 
           
Airlines — 0.4%          
Deutsche Lufthansa AG, Registered(a)   676,671    5,455,369 
           
Auto Components — 0.5%          
Continental AG   122,452    7,410,822 
           
Automobiles — 7.5%          
Bayerische Motoren Werke AG   371,455    33,727,610 
Mercedes-Benz Group AG   900,173    61,160,632 
Volkswagen AG   33,162    6,401,852 
         101,290,094 
Banks — 0.7%          
Commerzbank AG(a)   1,190,856    9,974,736 
           
Capital Markets — 4.7%          
Deutsche Bank AG, Registered   2,318,675    24,643,640 
Deutsche Boerse AG   213,162    39,173,729 
         63,817,369 
Chemicals — 6.1%          
BASF SE.   1,030,423    52,464,395 
Covestro AG(b)   215,709    8,668,956 
Evonik Industries AG   237,385    4,679,325 
Symrise AG   149,132    17,103,760 
         82,916,436 
Construction Materials — 0.7%          
HeidelbergCement AG   161,578    8,859,114 
           
Diversified Telecommunication Services — 5.9%          
Deutsche Telekom AG, Registered   3,636,237    73,970,998 
Telefonica Deutschland Holding AG   1,178,533    2,818,756 
United Internet AG, Registered.   109,815    2,334,627 
         79,124,381 
Electrical Equipment — 0.6%          
Siemens Energy AG(a)(c)   489,243    8,217,306 
           
Food & Staples Retailing — 0.3%          
HelloFresh SE(a)   187,083    4,633,109 
           
Health Care Equipment & Supplies — 1.7%          
Carl Zeiss Meditec AG, Bearer   45,187    6,160,567 
Siemens Healthineers AG(b)   315,473    16,814,263 
         22,974,830 
Health Care Providers & Services — 1.5%          
Fresenius Medical Care AG & Co. KGaA   230,624    7,213,163 
Fresenius SE & Co. KGaA   474,051    13,208,382 
         20,421,545 
Household Products — 0.6%          
Henkel AG & Co. KGaA   116,974    7,782,198 
           
Independent Power and Renewable Electricity Producers — 2.4%          
RWEAG   720,707    31,726,223 
Uniper SE   40,081    184,138 
         31,910,361 
Security  Shares   Value 
         
Industrial Conglomerates — 8.8%          
Siemens AG, Registered   858,238   $119,024,549 
           
Insurance — 11.9%          
Allianz SE, Registered   458,244    97,817,444 
Hannover Rueck SE   67,456    12,805,157 
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered   157,177    49,645,336 
         160,267,937 
Interactive Media & Services — 0.4%          
Scout24 SE(b)   88,953    4,882,460 
           
Internet & Direct Marketing Retail — 1.2%          
Delivery Hero SE(a)(b)   191,039    8,362,288 
Zalando SE(a)(b)(c)   251,352    7,905,729 
         16,268,017 
IT Services — 0.3%          
Bechtle AG   92,735    3,381,734 
           
Life Sciences Tools & Services — 0.9%          
QIAGEN NV(a)   255,871    12,774,412 
           
Machinery — 2.4%          
Daimler Truck Holding AG(a)   508,528    16,762,430 
GEA Group AG   169,997    6,951,380 
Knorr-Bremse AG   82,129    4,681,726 
Rational AG   5,806    3,647,933 
         32,043,469 
Multi-Utilities — 1.8%          
E.ON SE   2,518,800    24,149,113 
           
Personal Products — 0.9%          
Beiersdorf AG   112,765    12,263,566 
           
Pharmaceuticals — 6.7%          
Bayer AG, Registered   1,102,163    63,966,125 
Merck KGaA   144,999    26,565,994 
         90,532,119 
Real Estate Management & Development — 2.1%          
Aroundtown SA   1,130,964    2,741,423 
LEG Immobilien SE   83,216    5,339,419 
Vonovia SE   803,975    19,969,855 
         28,050,697 
Semiconductors & Semiconductor Equipment — 3.6%          
Infineon Technologies AG   1,465,091    49,213,064 
           
Software — 9.9%          
Nemetschek SE   65,383    3,267,686 
SAP SE   1,171,504    129,986,135 
         133,253,821 
Textiles, Apparel & Luxury Goods — 2.3%          
adidas AG   193,966    25,003,759 
Puma SE   117,378    6,074,741 
         31,078,500 
Trading Companies & Distributors — 0.8%          
Brenntag SE   172,841    10,989,390 
           
Total Common Stocks — 92.6%          
(Cost: $1,882,142,913)        1,249,933,612 

 

1

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Germany ETF
November 30, 2022 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Preferred Stocks          
           
Automobiles — 4.6%          
Bayerische Motoren Werke AG, Preference Shares, NVS   67,312   $5,840,929 
Dr Ing hc F Porsche AG, Preference Shares, NVS(a)   128,008    14,492,718 
Porsche Automobil Holding SE, Preference Shares, NVS   171,304    10,529,831 
Volkswagen AG, Preference Shares, NVS   208,210    30,754,836 
         61,618,314 
Household Products — 1.0%          
Henkel AG & Co. KGaA, Preference Shares, NVS   199,310    14,255,913 
           
Life Sciences Tools & Services — 0.8%          
Sartorius AG, Preference Shares, NVS   27,229    10,236,925 
           
Total Preferred Stocks — 6.4%          
(Cost: $122,836,879)        86,111,152 
Total Long-Term Investments — 99.0%          
(Cost: $2,004,979,792)        1,336,044,764 
           
Short-Term Securities          
           
Money Market Funds — 0.4%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 4.06%(d)(e)(f)   4,758,837    4,759,313 
Security  Shares   Value 
         
Money Market Funds (continued)          
BlackRock Cash Funds: Treasury, SL Agency Shares, 3.64%(d)(e)   980,000   $980,000 
           
Total Short-Term Securities — 0.4%          
(Cost: $5,738,262)        5,739,313 
           
Total Investments — 99.4%          
(Cost: $2,010,718,054)        1,341,784,077 
           
Other Assets Less Liabilities — 0.6%        8,180,077 
           
Net Assets — 100.0%       $1,349,964,154 

 

(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)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 November 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer  Value at
08/31/22		   Purchases
at Cost		   Proceeds
from Sale		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
11/30/22		   Shares
Held at
11/30/22		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Institutional, SL Agency  Shares  $8,462,684   $—   $(3,702,981)(a)  $1,390   $(1,780)  $4,759,313    4,758,837   $15,209(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   920,000    60,000(a)   —    —    —    980,000    980,000    4,580    — 
                  $1,390   $(1,780)  $5,739,313        $19,789   $— 

 

(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.

 

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                  
DAX Index   37   12/16/22  $14,044   $1,322,545 

 

Fair Value Hierarchy as of Period End

 

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;

 

2

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Germany ETF
November 30, 2022  

 

Fair Value Hierarchy as of Period End (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 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 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  $—   $1,249,933,612   $—   $1,249,933,612 
Preferred Stocks   14,492,718    71,618,434    —    86,111,152 
Money Market Funds   5,739,313    —    —    5,739,313 
   $20,232,031   $1,321,552,046   $—   $1,341,784,077 
                     
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $—   $1,322,545   $—   $1,322,545 

 

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

 

Portfolio Abbreviation

 

NVSNon-Voting Shares

 

3