NPORT-EX 2 NPORT_0BI1_84175124_1122.htm
Schedule of Investments (unaudited) iShares® MSCI Hong Kong ETF
November 30, 2022 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Banks — 6.3%          
BOC Hong Kong Holdings Ltd.   7,394,500   $23,603,200 
Hang Seng Bank Ltd.   1,522,900    23,488,625 
         47,091,825 
Beverages — 1.4%          
Budweiser Brewing Co. APAC Ltd.(a)   3,752,400    10,885,263 
           
Building Products — 1.1%          
Xinyi Glass Holdings Ltd.   4,278,000    8,284,528 
           
Capital Markets — 12.5%          
Futu Holdings Ltd., ADR(b)   142,046    8,734,408 
Hong Kong Exchanges & Clearing Ltd.   2,142,426    85,177,488 
         93,911,896 
Diversified Telecommunication Services — 1.4%          
HKT Trust & HKT Ltd., Class SS   8,367,500    10,202,666 
           
Electric Utilities — 6.9%          
CK Infrastructure Holdings Ltd.   1,490,000    7,530,122 
CLP Holdings Ltd.   3,269,200    23,722,754 
HK Electric Investments & HK Electric Investments Ltd., Class SS   7,119,000    5,261,949 
Power Assets Holdings Ltd.   2,893,000    14,923,922 
         51,438,747 
Equity Real Estate Investment Trusts (REITs) — 3.7%          
Link REIT   4,150,400    28,035,118 
           
Food Products — 1.4%          
WH Group Ltd.(a)   18,358,000    10,756,249 
           
Gas Utilities — 2.6%          
Hong Kong & China Gas Co. Ltd.   22,689,495    19,358,231 
           
Hotels, Restaurants & Leisure — 5.4%          
Galaxy Entertainment Group Ltd.   4,325,000    26,293,651 
Sands China Ltd.(b)   5,143,600    14,062,405 
         40,356,056 
Industrial Conglomerates — 6.5%          
CK Hutchison Holdings Ltd.   5,273,767    30,657,599 
Jardine Matheson Holdings Ltd.   380,400    18,437,596 
         49,095,195 
Insurance — 22.7%          
AIA Group Ltd.   16,751,000    170,099,776 
Security  Shares   Value 
         
Machinery — 4.4%          
Techtronic Industries Co. Ltd.   2,691,647   $32,811,596 
           
Marine — 1.0%          
SITC International Holdings Co. Ltd.   3,317,000    7,358,285 
           
Real Estate Management & Development — 19.6%          
CK Asset Holdings Ltd.   3,982,267    23,835,838 
ESR Group Ltd.(a)   4,442,200    10,083,336 
Hang Lung Properties Ltd.   4,725,000    8,732,483 
Henderson Land Development Co. Ltd.   3,234,762    10,663,513 
Hongkong Land Holdings Ltd.   2,476,400    9,992,002 
New World Development Co. Ltd.   3,450,266    8,209,342 
Sino Land Co. Ltd.   7,696,000    9,625,395 
Sun Hung Kai Properties Ltd.   2,829,000    34,126,978 
Swire Pacific Ltd., Class A   1,130,000    8,881,113 
Swire Properties Ltd.   2,878,800    6,483,774 
Wharf Real Estate Investment Co. Ltd.   3,442,150    15,973,818 
         146,607,592 
Road & Rail — 2.1%          
MTR Corp. Ltd.   3,211,083    15,481,038 
           
Total Long-Term Investments — 99.0%          
(Cost: $951,370,359)        741,774,061 
         
Short-Term Securities          
           
Money Market Funds — 0.1%          
BlackRock Cash Funds: Treasury, SL Agency Shares, 3.64%(c)(d)   960,000    960,000 
           
Total Short-Term Securities — 0.1%          
(Cost: $960,000)        960,000 
           
Total Investments — 99.1%          
(Cost: $952,330,359)        742,734,061 
           
Other Assets Less Liabilities — 0.9%        7,004,854 
Net Assets — 100.0%       $749,738,915 

 

(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 Hong Kong 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: Institutional, SL Agency Shares(a)  $—   $0(b)  $—   $—   $—   $—    —   $43(c)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   1,540,000    —    (580,000)(b)   —    —    960,000    960,000    8,353    — 
                  $—   $—   $960,000        $8,396   $— 

 

(a)As of period end, the entity is no longer held.

(b)Represents net amount purchased (sold).

(c)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                  
MSCI EAFE Index   24   12/16/22  $2,376   $184,258 

 

OTC Total Return Swaps

 

Reference Entity  Payment
Frequency		  Counterparty(a)  Termination
Date		  Net Notional   Accrued
Unrealized
Appreciation
(Depreciation)		   Net Value of
Reference
Entity		   Gross
Notional
Amount
Net Asset
Percentage		 
Equity Securities Long  Monthly  Goldman Sachs Bank USA(b)  02/27/23  $1,863,848   $32,465(c)  $1,896,432    0.3%
   Monthly  HSBC Bank PLC(d)  02/10/23   1,695,027    67,512(e)   1,762,910    0.2 
   Monthly  JPMorgan Chase Bank NA(f)  02/08/23   1,585,826    181,001(g)   1,766,827    0.2 
                 $280,978   $5,426,169      

 

(a)The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions.

(c)Amount includes $(119) of net dividends and financing fees.
(e)Amount includes $(371) of net dividends, payable for referenced securities purchased and financing fees.
(g)Amount includes $0 of net dividends, payable for referenced securities purchased and financing fees.

 

The following are the specified benchmarks (plus or minus a range) used in determining the variable rate of interest:

 

  (b) (d) (f)
Range: 55 basis points 55 basis points 0 basis points
Benchmarks: HKD - Overnight Index Average (HONIA) HKD - Overnight Index Average (HONIA) HKD - Overnight Index Average (HONIA)

 

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

 

The following table represents the individual long positions and related values of equity securities underlying the total return swap with Goldman Sachs Bank USA as of period end, termination date February 27, 2023.

 

   Shares   Value   % of
Basket
Value		 
             
Reference Entity — Long               
                
Common Stocks               
Capital Markets               
Hong Kong Exchanges & Clearing Ltd.   47,700   $1,896,432    100.0%
Net Value of Reference Entity — Goldman Sachs Bank USA       $1,896,432      

 

The following table represents the individual long positions and related values of equity securities underlying the total return swap with HSBC Bank PLC as of period end, termination date February 10, 2023.

 

   Shares   Value   % of
Basket
Value		 
             
Reference Entity — Long               
                
Common Stocks               
Capital Markets               
Hong Kong Exchanges & Clearing Ltd.   45,000   $1,762,910    100.0%
Net Value of Reference Entity — HSBC Bank PLC       $1,762,910      

The following table represents the individual long positions and related values of equity securities underlying the total return swap with JPMorgan Chase Bank NA as of period end, termination date February 8, 2023.

 

   Shares   Value   % of
Basket
Value		 
             
Reference Entity — Long               
                
Common Stocks               
Capital Markets               
Hong Kong Exchanges & Clearing Ltd.   45,100   $1,766,827    100.0%
Net Value of Reference Entity — JPMorgan Chase Bank NA       $1,766,827      

 

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.

 

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

 

Fair Value Hierarchy as of Period End (continued)

 

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  $8,734,408   $733,039,653   $—   $741,774,061 
Money Market Funds   960,000    —    —    960,000 
   $9,694,408   $733,039,653   $—   $742,734,061 
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $184,258   $—   $—   $184,258 
Swaps   —    280,978    —    280,978 
   $184,258   $280,978   $—   $465,236 

 

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

 

Portfolio Abbreviation

 

ADR American Depositary Receipt
REIT Real Estate Investment Trust

 

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