NPORT-EX 2 NPORT_0BID_12457820_1122.htm

Schedule of Investments (unaudited)

 iShares® MSCI Switzerland ETF
November 30, 2022 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Banks — 0.2%          
Banque Cantonale Vaudoise, Registered   23,556   $2,201,879 
           
Building Products — 1.3%          
Geberit AG, Registered   35,504    17,018,966 
           
Capital Markets — 7.8%          
Credit Suisse Group AG, Registered   2,934,034    8,974,519 
Julius Baer Group Ltd.   225,989    13,017,496 
Partners Group Holding AG   21,715    21,636,162 
UBS Group AG, Registered   2,981,579    55,018,109 
         98,646,286 
Chemicals — 5.9%          
Clariant AG, Registered   319,897    5,198,275 
EMS-Chemie Holding AG, Registered   9,313    6,488,872 
Givaudan SA, Registered   8,565    28,955,488 
Sika AG, Registered   133,723    34,174,318 
         74,816,953 
Construction Materials — 2.1%          
Holcim AG   519,848    27,156,756 
           
Containers & Packaging — 0.6%          
SIG Group AG   359,493    7,925,382 
           
Diversified Telecommunication Services — 1.1%          
Swisscom AG, Registered   26,718    14,407,997 
           
Electric Utilities — 0.2%          
BKW AG   16,755    2,165,534 
           
Electrical Equipment — 3.5%          
ABB Ltd., Registered   1,416,526    44,518,841 
           
Food Products — 22.6%          
Barry Callebaut AG, Registered   4,216    8,610,775 
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS   1,119    11,771,119 
Chocoladefabriken Lindt & Spruengli AG, Registered   116    11,946,695 
Nestle SA, Registered   2,140,121    254,724,760 
         287,053,349 
Health Care Equipment & Supplies — 4.7%          
Alcon Inc.   459,973    31,719,569 
Sonova Holding AG, Registered   54,356    14,114,040 
Straumann Holding AG   116,001    13,538,640 
         59,372,249 
Insurance — 8.5%          
Baloise Holding AG, Registered   55,164    8,343,102 
Swiss Life Holding AG, Registered   30,839    16,486,034 
Swiss Re AG   285,411    25,580,503 
Zurich Insurance Group AG   119,118    57,228,671 
         107,638,310 
Life Sciences Tools & Services — 3.3%          
Bachem Holding AG, Class A   56,230    5,509,328 
Lonza Group AG, Registered   67,793    35,665,370 
         41,174,698 
Machinery — 1.9%          
Schindler Holding AG, Participation Certificates, NVS   48,377    9,170,867 
Schindler Holding AG, Registered   33,714    6,070,419 
VAT Group AG(a)   31,795    8,911,326 
         24,152,612 
Security  Shares   Value 
         
Marine — 1.1%          
Kuehne + Nagel International AG, Registered   56,006   $13,606,058 
           
Pharmaceuticals — 24.5%          
Novartis AG, Registered   1,550,877    137,957,544 
Roche Holding AG, NVS   521,086    170,199,121 
Roche Holding AG, Bearer   5,632    2,262,455 
         310,419,120 
Professional Services — 1.8%          
Adecco Group AG, Registered   205,974    7,002,418 
SGS SA, Registered   6,426    15,097,708 
         22,100,126 
Real Estate Management & Development — 0.6%          
Swiss Prime Site AG, Registered   93,556    7,804,951 
           
Software — 0.4%          
Temenos AG, Registered   85,249    5,253,314 
           
Technology Hardware, Storage & Peripherals — 0.9% 
Logitech International SA, Registered   188,802    11,446,572 
           
Textiles, Apparel & Luxury Goods — 5.8%          
Cie. Financiere Richemont SA, Class A, Registered   452,694    60,012,734 
Swatch Group AG (The), Bearer   33,987    9,094,473 
Swatch Group AG (The), Registered   95,252    4,606,107 
         73,713,314 
           
Total Common Stocks — 98.8%          
(Cost: $1,263,759,063)        1,252,593,267 
           
Rights          
           
Capital Markets — 0.0%          
Credit Suisse Group AG, (Expires 12/22/22, Strike Price CHF 2.52)(b)   2,764,090    257,057 
           
Total Rights — 0.0%          
(Cost: $0)        257,057 
           
Total Long-Term Investments — 98.8%          
(Cost: $1,263,759,063)        1,252,850,324 
           
Short-Term Securities          
           
Money Market Funds — 0.0%          
BlackRock Cash Funds: Treasury, SL Agency Shares, 3.64%(c)(d)   530,000    530,000 
           
Total Short-Term Securities — 0.0%          
(Cost: $530,000)        530,000 
           
Total Investments — 98.8%          
(Cost: $1,264,289,063)        1,253,380,324 
           
Other Assets Less Liabilities — 1.2%        15,165,907 
           
Net Assets — 100.0%       $1,268,546,231 

 

(a)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.

(b)Non-income producing security.

(c)Affiliate of the Fund.

(d)Annualized 7-day yield as of period end.


 

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

 

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: Treasury, SL Agency Shares  $50,000   $480,000(a)  $—   $—   $—   $530,000    530,000   $1,791   $— 

 

(a)Represents net amount purchased (sold).

 

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                  
Swiss Market Index   114   12/16/22  $13,579   $559,959 

 

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;

●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  $—   $1,252,593,267   $—   $1,252,593,267 
Rights   257,057    —    —    257,057 
Money Market Funds   530,000    —    —    530,000 
   $787,057   $1,252,593,267   $—   $1,253,380,324 
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $—   $559,959   $—   $559,959 

 

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

 

Portfolio Abbreviation

 

NVS Non-Voting Shares

 

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