NPORT-EX 2 NPORT_2Q23_30371415_1122.htm

 

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

 

Security  Shares   Value 
         
Common Stocks          
           
Bahrain — 5.5%          
Ahli United Bank BSC   20,548,448   $21,473,162 
Aluminium Bahrain BSC   671,851    1,807,047 
Ithmaar Holding BSC, NVS(a)   7,341,331    344,719 
         23,624,928 
Bangladesh — 5.7%          
Bangladesh Export Import Co. Ltd.   2,791,221    3,171,156 
Beacon Pharmaceuticals Ltd./Bangladesh   680,041    2,023,749 
Beximco Pharmaceuticals Ltd.   1,495,628    2,283,768 
BRAC Bank Ltd.   2,400,934    908,462 
British American Tobacco Bangladesh Co. Ltd.   314,507    1,604,243 
City Bank Ltd. (The)   2,963,529    634,268 
Eastern Bank Ltd.   2,339,287    731,099 
GrameenPhone Ltd.   321,524    905,639 
International Finance Investment & Commerce          
Bank Ltd.(a)   6,726,577    760,252 
Islami Bank Bangladesh Ltd.   235,588    75,712 
LafargeHolcim Bangladesh Ltd.   2,495,963    1,622,897 
National Bank Ltd.(a)   6,888,003    561,871 
Olympic Industries Ltd.   600,255    712,672 
Renata Ltd.   85,181    1,019,577 
Robi Axiata Ltd., NVS   5,148,805    1,518,075 
Square Pharmaceuticals Ltd.   2,765,322    5,701,863 
Summit Power Ltd.   1,314,517    439,249 
         24,674,552 
Colombia — 2.9%          
Bancolombia SA   588,346    4,874,449 
Cementos Argos SA   1,565,825    1,136,099 
Corp. Financiera Colombiana SA(a)   191,346    626,987 
Grupo Argos SA   881,791    1,808,146 
Interconexion Electrica SA ESP   1,035,061    4,180,549 
         12,626,230 
Egypt — 4.7%          
Abou Kir Fertilizers & Chemical Industries   1,129,914    1,564,239 
Commercial International Bank Egypt SAE   9,112,290    14,934,636 
Eastern Co. SAE   4,523,538    2,377,027 
Egyptian Financial Group-Hermes Holding Co.(a)   2,527,094    1,554,343 
         20,430,245 
Estonia — 0.9%          
Enefit Green AS, NVS   266,882    1,230,939 
LHV Group AS, NVS   548,904    1,837,562 
Tallink Grupp AS(a)   1,107,926    581,698 
Tallinna Sadam AS(b)   240,629    360,574 
         4,010,773 
Jordan — 2.3%          
Arab Bank PLC   467,730    3,255,952 
Capital Bank of Jordan   246,779    851,981 
Jordan Islamic Bank   174,871    968,703 
Jordan Petroleum Refinery Co.   312,722    2,463,350 
Jordan Phosphate Mines Co.   36,185    1,843,174 
Jordanian Electric Power Co.   167,906    496,868 
         9,880,028 
Kazakhstan — 6.7%          
Halyk Savings Bank of Kazakhstan JSC, GDR(c)   397,736    4,255,775 
Kaspi.KZ JSC(c)   215,081    16,563,396 
NAC Kazatomprom JSC, GDR(c)   291,681    8,304,525 
         29,123,696 
Security  Shares   Value 
         
Kenya — 2.8%          
Equity Group Holdings PLC/Kenya   8,677,066   $3,040,353 
KCB Group PLC   7,276,516    2,128,174 
Safaricom PLC   36,957,905    6,895,977 
         12,064,504 
Lithuania — 0.7%          
AB Ignitis Grupe   95,860    1,939,385 
Siauliu Bankas AB   1,475,589    1,001,154 
         2,940,539 
Malta — 0.6%          
MAS P.L.C.   2,154,088    2,624,921 
           
Morocco — 5.6%          
Attijariwafa Bank   194,229    7,333,516 
Banque Centrale Populaire   79,095    1,682,163 
Co. Sucrerie Marocaine et de Raffinage   117,040    2,193,095 
Hightech Payment Systems SA   1,220    715,643 
Itissalat Al-Maghrib   775,944    7,596,959 
Label Vie   5,721    2,518,130 
Managem SA   3,368    709,983 
Societe d’Exploitation des Ports   84,984    1,640,203 
         24,389,692 
Nigeria — 4.5%          
Access Bank PLC   87,072,126    1,209,335 
Afriland Properties PLC(a)   8,020    26 
Dangote Cement PLC   11,938,113    5,116,613 
FBN Holdings PLC   84,216,832    1,541,223 
Guaranty Trust Holding Co. PLC   63,861,123    2,086,965 
MTN Nigeria Communications PLC   11,008,838    3,930,443 
Nestle Nigeria PLC   1,310,924    2,064,705 
United Bank for Africa PLC   79,997,106    947,678 
Zenith Bank PLC   69,373,073    2,482,468 
         19,379,456 
Oman — 2.2%          
Bank Muscat SAOG   7,986,766    5,818,942 
National Bank of Oman SAOG   1,806,758    1,351,373 
Oman Telecommunications Co. SAOG   202,055    457,582 
Omani Qatari Telecommunications Co. SAOG   1,481,805    1,539,338 
Renaissance Services SAOG   433,443    494,423 
         9,661,658 
Pakistan — 3.8%          
Engro Corp. Ltd./Pakistan   1,415,556    1,662,322 
Engro Fertilizers Ltd.   2,246,403    813,485 
Fauji Fertilizer Co. Ltd.   1,847,047    846,202 
Habib Bank Ltd.   1,890,203    562,039 
Hub Power Co. Ltd. (The)   4,568,958    1,350,589 
Lucky Cement Ltd.(a)   741,189    1,564,754 
Mari Petroleum Co. Ltd.   129,176    963,378 
MCB Bank Ltd.   1,947,279    1,037,419 
Millat Tractors Ltd.   234,081    653,838 
Oil & Gas Development Co. Ltd.   2,395,993    776,304 
Pakistan Oilfields Ltd.   667,104    1,252,142 
Pakistan Petroleum Ltd.   2,184,645    551,063 
Pakistan State Oil Co. Ltd.   1,050,120    704,066 
Systems Ltd.   715,960    1,599,633 
TRG Pakistan(a)   1,659,565    1,064,994 
United Bank Ltd./Pakistan   2,026,460    963,688 
         16,365,916 
Peru — 4.6%          
Cia. de Minas Buenaventura SAA, ADR   217,729    1,776,669 

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

 

 

Security  Shares   Value 
         
Peru (continued)          
Credicorp Ltd.   80,308   $12,331,293 
Southern Copper Corp.   98,300    5,998,266 
         20,106,228 
Philippines — 5.1%          
Aboitiz Equity Ventures Inc.   703,950    750,062 
ACEN Corp.   3,306,770    417,334 
Alliance Global Group Inc.   1,641,500    284,296 
Ayala Corp.   75,470    937,099 
Ayala Land Inc.   2,543,200    1,438,275 
Bank of the Philippine Islands   662,470    1,244,671 
BDO Unibank Inc.   884,440    2,047,051 
Bloomberry Resorts Corp.(a)   409,700    53,379 
Century Pacific Food Inc.   779,900    347,480 
Converge Information and Communications          
Technology Solutions Inc.(a)   879,600    242,260 
DMCI Holdings Inc.   1,550,000    263,896 
Globe Telecom Inc.   18,973    774,387 
GT Capital Holdings Inc.   8,290    64,607 
International Container Terminal Services Inc.   383,480    1,396,251 
JG Summit Holdings Inc.   1,029,260    903,324 
Jollibee Foods Corp.   189,370    823,494 
LT Group Inc.   2,578,800    430,722 
Manila Electric Co.   101,920    505,421 
Megaworld Corp.   90,000    3,581 
Metro Pacific Investments Corp.   9,676,000    591,919 
Metropolitan Bank & Trust Co.   1,025,250    1,044,713 
Monde Nissin Corp.(b)   2,474,000    554,043 
PLDT Inc.   45,110    1,402,528 
Puregold Price Club Inc.   688,600    434,062 
RL Commercial REIT Inc.   1,984,600    208,776 
Robinsons Land Corp.   511,500    145,907 
Security Bank Corp.   224,360    382,723 
SM Prime Holdings Inc.   5,024,100    3,256,877 
Universal Robina Corp.   384,320    905,430 
Wilcon Depot Inc.   804,900    459,245 
         22,313,813 
Romania — 6.3%          
Banca Transilvania SA   2,459,079    10,488,878 
BRD-Groupe Societe Generale SA   927,499    2,623,526 
MED Life SA(a)   346,297    1,144,785 
OMV Petrom SA   64,446,946    6,335,482 
Societatea Energetica Electrica SA   568,481    903,484 
Societatea Nationala de Gaze Naturale ROMGAZ SA   517,756    4,386,591 
Teraplast SA   4,221,482    478,189 
Transgaz SA Medias   18,823    1,009,095 
         27,370,030 
Slovenia — 0.2%          
Pozavarovalnica Sava dd   30,581    786,117 
           
Sri Lanka — 0.5%          
Commercial Bank of Ceylon PLC   1,482,825    206,831 
Expolanka Holdings PLC   992,043    519,577 
John Keells Holdings PLC   2,732,474    1,038,118 
Sampath Bank PLC   2,891,749    287,213 
         2,051,739 
Vietnam — 25.0%          
Bank for Foreign Trade of Vietnam JSC   2,080,195    6,884,152 
Bank for Investment and Development of Vietnam JSC   891,024    1,500,300 
Bao Viet Holdings   397,610    789,184 
Security  Shares/
Par		   Value 
         
Vietnam (continued)          
Dat Xanh Group JSC(a)   1,175,180   $618,429 
Development Investment Construction(a)   1,071,654    694,006 
Digiworld Corp., NVS   296,000    536,539 
Duc Giang Chemicals JSC   743,794    1,857,036 
Gelex Group JSC   1,727,384    1,057,263 
Ha Do Group JSC   480,048    625,465 
Hoa Phat Group JSC   11,940,403    8,985,348 
Hoa Sen Group(a)   1,218,590    562,157 
IDICO Corp. JSC   658,850    962,410 
Khang Dien House Trading and Investment JSC(a)   1,367,397    1,528,166 
KIDO Group Corp.   551,872    1,377,161 
Kinh Bac City Development Share Holding Corp.(a)   1,520,260    1,313,512 
Masan Group Corp.   2,457,756    10,249,457 
Nam Long Investment Corp., NVS   705,600    826,028 
National Citizen Commercial JSC, NVS(a)   686,300    504,038 
No Va Land Investment Group Corp.(a)   2,934,933    2,780,713 
PetroVietnam Drilling & Well Services JSC(a)   1,104,934    711,459 
PetroVietnam Fertilizer & Chemicals JSC   564,200    944,490 
PetroVietnam Gas JSC   233,200    1,052,729 
PetroVietnam Power Corp.(a)   2,390,740    1,142,395 
PetroVietnam Technical Services Corp.   964,498    829,676 
Phat Dat Real Estate Development Corp.(a)   1,039,136    575,541 
Saigon - Hanoi Commercial Joint Stock Bank(a)   4,523,105    1,876,927 
Saigon Beer Alcohol Beverage Corp.   291,680    2,144,188 
Saigon Thuong Tin Commercial JSB(a)   2,453,880    2,016,274 
Saigon-Hanoi Securities(a)   1,637,450    584,685 
SSI Securities Corp.   4,766,341    3,770,833 
Thaiholdings JSC(a)   659,700    1,036,166 
Thanh Thanh Cong - Bien Hoa JSC(a)   1,309,352    696,668 
Van Phu - Invest Investment JSC(a)   417,980    1,036,071 
Viet Capital Securities JSC   1,243,370    1,256,574 
Vietjet Aviation JSC(a)   738,790    3,094,270 
Vietnam Construction and Import-Export JSC   776,871    496,371 
Vietnam Dairy Products JSC   3,122,374    10,533,484 
Vincom Retail JSC(a)   4,180,880    5,235,025 
Vingroup JSC(a)   4,029,534    11,428,647 
Vinh Hoan Corp.   373,600    1,039,053 
Vinhomes JSC(b)   4,687,088    10,421,608 
VIX Securities JSC   1,680,028    543,823 
Vndirect Securities Corp.   3,725,840    2,086,256 
         108,204,577 
           
Total Common Stocks — 90.6%          
(Cost: $386,858,046)        392,629,642 
           
Preferred Stocks          
           
Colombia — 1.6%          
Bancolombia SA, Preference Shares, NVS   1,070,441    7,092,669 
           
Total Preferred Stocks — 1.6%          
(Cost: $7,775,270)        7,092,669 
           
Corporate Bonds & Notes          
           
Oman — 0.0%          
Bank Muscat SAOG, 4.25%, 11/20/50              OMR   276,375    — 
           
Total Corporate Bonds & Notes — 0.0%          
(Cost: $0)        — 
           
Total Long-Term Investments — 92.2%          
(Cost: $394,633,316)        399,722,311 

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

 

Security  Shares   Value 
         
Short-Term Securities          
           
Money Market Funds — 0.7%          
BlackRock Cash Funds: Treasury, SL Agency Shares, 3.64%(d)(e)   2,950,000   $2,950,000 
           
Total Short-Term Securities — 0.7%          
(Cost: $2,950,000)        2,950,000 
           
Total Investments — 92.9%          
(Cost: $397,583,316)        402,672,311 
           
Other Assets Less Liabilities — 7.1%        30,650,471 
           
Net Assets — 100.0%       $433,322,782 

 

 

(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)This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

(d)Affiliate of the Fund.

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

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  $—   $2,950,000(a)  $—   $—   $—   $2,950,000    2,950,000   $10,691   $— 

 

(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                  
MSCI Emerging Markets Index   512   12/16/22  $25,152   $590,535 

 

Forward Foreign Currency Exchange Contracts

 

Currency Purchased  Currency Sold  Counterparty  Settlement Date  Unrealized
Appreciation
(Depreciation)		 
USD   781,570   NGN   458,000,000   Citibank N.A.  10/27/23  $6,554 
USD   11,480,375   NGN   6,673,541,718   JPMorgan Chase Bank N.A.  10/27/23   187,577 
                       194,131 
                      $194,131 

 

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

 

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Schedule of Investments (unaudited) (continued) iShares® MSCI Frontier and Select EM ETF
November 30, 2022  

 

Fair Value Hierarchy as of Period End (continued)

 

●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  $124,538,236   $268,091,406   $—   $392,629,642 
Preferred Stocks   7,092,669    —    —    7,092,669 
Corporate Bonds & Notes   —    —    —    — 
Money Market Funds   2,950,000    —    —    2,950,000 
   $134,580,905   $268,091,406   $—   $402,672,311 
                     
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $590,535    —   $—   $590,535 
Forward Foreign Currency Exchange Contracts   —    194,131    —    194,131 
   $590,535   $194,131   $—   $784,666 

 

(a)Derivative financial instruments are futures contracts and forward foreign currency exchange contracts. Futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

Portfolio Abbreviation
 
ADR American Depositary Receipt
GDR Global Depositary Receipt
JSC Joint Stock Company
NVS Non-Voting Shares
REIT Real Estate Investment Trust
   
Currency Abbreviations
 
NGN Nigerian Naira
OMR Omani Rial
USD United States Dollar

 

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