NPORT-EX 2 NPORT_0BHX_58903800_1122.htm

 

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

 

Security  Shares   Value 
         
Common Stocks          
           
Aerospace & Defense — 0.4%          
CAE Inc.(a)   717,357   $15,513,448 
           
Airlines — 0.1%          
Air Canada(a)(b)   398,241    5,710,939 
           
Auto Components — 0.9%          
Magna International Inc.   624,355    38,445,768 
           
Banks — 24.8%          
Bank of Montreal   1,527,141    149,154,953 
Bank of Nova Scotia (The)   2,720,957    141,959,456 
Canadian Imperial Bank of Commerce   2,057,433    99,097,561 
National Bank of Canada   763,414    54,443,226 
Royal Bank of Canada   3,165,307    314,801,152 
Toronto-Dominion Bank (The)   4,136,460    275,312,986 
         1,034,769,334 
Capital Markets — 4.3%          
Brookfield Asset Management Inc., Class A   3,194,629    150,617,679 
IGM Financial Inc.   190,033    5,513,874 
Onex Corp.   165,901    8,743,056 
TMX Group Ltd.   126,837    13,298,956 
         178,173,565 
Chemicals — 2.4%          
Nutrien Ltd.   1,225,746    98,513,474 
           
Commercial Services & Supplies — 0.6%          
GFL Environmental Inc.   412,016    11,945,600 
Ritchie Bros Auctioneers Inc.   251,251    13,775,238 
         25,720,838 
Construction & Engineering — 0.8%          
WSP Global Inc.   281,794    33,801,035 
           
Containers & Packaging — 0.4%          
CCL Industries Inc., Class B, NVS   339,740    16,149,110 
           
Diversified Financial Services — 0.3%          
Element Fleet Management Corp.   895,058    12,682,456 
           
Diversified Telecommunication Services — 0.7%          
BCE Inc.   163,933    7,806,972 
TELUS Corp.   1,065,918    22,694,786 
         30,501,758 
Electric Utilities — 2.1%          
Emera Inc.   604,476    23,533,738 
Fortis Inc.   1,088,690    43,817,921 
Hydro One Ltd.(c)   747,419    20,903,173 
         88,254,832 
Equity Real Estate Investment Trusts (REITs) — 0.3%          
Canadian Apartment Properties REIT   193,534    6,287,355 
RioCan REIT   345,798    5,434,465 
         11,721,820 
Food & Staples Retailing — 4.3%          
Alimentation Couche-Tard Inc.   1,859,646    84,718,512 
Empire Co. Ltd., Class A, NVS   373,473    10,170,105 
George Weston Ltd.   163,801    20,512,418 
Loblaw Companies Ltd.   372,653    33,631,992 
Metro Inc.   544,378    31,307,350 
         180,340,377 

 

Security  Shares   Value 
         
Food Products — 0.3%          
Saputo Inc.   567,753   $14,097,276 
           
Gas Utilities — 0.3%          
AltaGas Ltd.   634,400    10,644,469 
           
Hotels, Restaurants & Leisure — 1.1%          
Restaurant Brands International Inc.   660,695    43,876,062 
           
Independent Power and Renewable Electricity Producers — 0.6%          
Brookfield Renewable Corp., Class A   293,556    9,562,966 
Northland Power Inc.   536,935    15,208,136 
         24,771,102 
Insurance — 7.0%          
Fairfax Financial Holdings Ltd.   52,326    30,022,050 
Great-West Lifeco Inc.   633,317    15,103,750 
iA Financial Corp. Inc.   243,426    13,733,486 
Intact Financial Corp.   399,096    59,712,345 
Manulife Financial Corp.   4,336,262    78,108,485 
Power Corp. of Canada   1,258,503    31,660,218 
Sun Life Financial Inc.   1,329,044    62,976,816 
         291,317,150 
IT Services — 3.8%          
CGI Inc.(a)   482,826    42,153,727 
Nuvei Corp.(a)(c)   148,246    4,569,215 
Shopify Inc., Class A(a)   2,698,077    110,839,486 
         157,562,428 
Leisure Products — 0.1%          
BRP Inc.   82,563    6,178,338 
           
Media — 0.9%          
Quebecor Inc., Class B   365,729    7,882,008 
Shaw Communications Inc., Class B, NVS   1,080,045    29,475,116 
         37,357,124 
Metals & Mining — 8.0%          
Agnico Eagle Mines Ltd.   1,034,080    52,082,608 
Barrick Gold Corp.   4,031,387    65,783,700 
First Quantum Minerals Ltd.   1,330,256    31,625,906 
Franco-Nevada Corp.   435,652    63,636,964 
Ivanhoe Mines Ltd., Class A(a)(b)   1,379,486    12,347,330 
Kinross Gold Corp.   2,941,538    12,158,459 
Lundin Mining Corp.   1,511,840    9,306,052 
Pan American Silver Corp.   480,179    7,885,480 
Teck Resources Ltd., Class B   1,083,273    40,153,137 
Wheaton Precious Metals Corp.   1,022,984    39,926,149 
         334,905,785 
Multi-Utilities — 0.5%          
Algonquin Power & Utilities Corp.   1,533,129    11,579,817 
Canadian Utilities Ltd., Class A, NVS   291,221    7,964,926 
         19,544,743 
Multiline Retail — 1.3%          
Canadian Tire Corp. Ltd., Class A, NVS   126,558    14,332,860 
Dollarama Inc.   628,630    38,475,343 
         52,808,203 
Oil, Gas & Consumable Fuels — 19.0%          
ARC Resources Ltd.   1,499,314    22,269,854 
Cameco Corp.   978,197    23,830,440 
Canadian Natural Resources Ltd.   2,550,646    152,282,184 
Cenovus Energy Inc.   3,145,739    62,556,977 
Enbridge Inc.   4,604,970    190,169,188 
Imperial Oil Ltd.   506,855    28,836,645 

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

 

Security  Shares   Value 
         
Oil, Gas & Consumable Fuels (continued)          
Keyera Corp.   500,791   $11,667,688 
Parkland Corp.   352,622    7,513,026 
Pembina Pipeline Corp.   1,262,145    46,079,575 
Suncor Energy Inc.   3,104,115    102,066,689 
TC Energy Corp.   2,301,259    101,962,633 
Tourmaline Oil Corp.   726,061    44,190,324 
         793,425,223 
Paper & Forest Products — 0.2%          
West Fraser Timber Co. Ltd.   134,119    10,491,024 
           
Professional Services — 1.1%          
Thomson Reuters Corp.   384,778    45,307,205 
           
Real Estate Management & Development — 0.3%          
FirstService Corp.   90,451    11,718,318 
           
Road & Rail — 8.7%          
Canadian National Railway Co.   1,336,190    171,539,718 
Canadian Pacific Railway Ltd.   2,114,900    173,150,903 
TFI International Inc.   181,114    19,657,766 
         364,348,387 
Software — 2.5%          
Constellation Software Inc./Canada   45,782    73,805,288 
Descartes Systems Group Inc. (The)(a)   192,352    13,354,461 
Open Text Corp.   613,465    18,014,249 
         105,173,998 
Textiles, Apparel & Luxury Goods — 0.3%          
Gildan Activewear Inc.   415,413    12,028,648 
           
Trading Companies & Distributors — 0.3%          
Toromont Industries Ltd.   186,603    14,202,442 

 

Security  Shares   Value 
         
Wireless Telecommunication Services — 0.9%          
Rogers Communications Inc., Class B, NVS   803,719   $36,972,926 
           
Total Long-Term Investments — 99.6%          
(Cost: $4,489,618,855)        4,157,029,605 
           
Short-Term Securities          
           
Money Market Funds — 0.4%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 4.06%(d)(e)(f)   13,654,364    13,655,730 
BlackRock Cash Funds: Treasury, SL Agency Shares, 3.64%(d)(e)   2,190,000    2,190,000 
           
Total Short-Term Securities — 0.4%          
(Cost: $15,843,654)        15,845,730 
           
Total Investments — 100.0%          
(Cost: $4,505,462,509)        4,172,875,335 
           
Other Assets Less Liabilities — 0.0%.        228,951 
           
Net Assets — 100.0%       $4,173,104,286 

 

(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 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  $9,240,164   $4,434,290(a)  $—   $(15,168)  $(3,556)  $13,655,730    13,654,364   $18,610(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   1,160,000    1,030,000(a)   —    —    —    2,190,000    2,190,000    10,460    — 
                  $(15,168)  $(3,556)  $15,845,730        $29,070   $— 

 

(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
November 30, 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   82   12/15/22  $15,122   $838,804 

 

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  $4,157,029,605   $—   $—   $4,157,029,605 
Money Market Funds   15,845,730    —    —    15,845,730 
   $4,172,875,335   $—   $—   $4,172,875,335 
                     
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $838,804   $—   $—   $838,804 

 

(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
REIT Real Estate Investment Trust

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