NPORT-EX 2 NPORT_0BQM_55912028_1122.htm

 

Schedule of Investments (unaudited) iShares® MSCI Emerging Markets Min Vol Factor ETF
November 30, 2022 (Percentages shown are based on Net Assets)

 

Security   Shares   Value  
               
Common Stocks              
               
Brazil — 0.3%              
Klabin SA     1,454,759   $ 5,522,609  
Raia Drogasil SA     1,755,346     7,796,877  
Suzano SA     1,276,464     13,073,711  
            26,393,197  
Chile — 0.1%              
Enel Americas SA     39,802,976     5,274,285  
               
China — 24.8%              
360 Security Technology Inc., Class A     11,008,400     10,830,074  
Agricultural Bank of China Ltd., Class A     50,212,898     20,545,633  
Agricultural Bank of China Ltd., Class H     335,765,000     112,238,090  
Anhui Conch Cement Co. Ltd., Class H     1,165,500     4,245,145  
Anhui Gujing Distillery Co. Ltd., Class B     2,773,131     40,594,312  
ANTA Sports Products Ltd.     1,084,600     12,890,727  
Apeloa Pharmaceutical Co. Ltd., Class A     1,686,097     4,967,460  
Bank of China Ltd., Class H     358,282,000     126,974,697  
Bank of Communications Co. Ltd., Class A     34,864,774     23,391,963  
Bank of Communications Co. Ltd., Class H     21,594,000     12,235,190  
Bank of Ningbo Co. Ltd., Class A     1,214,607     5,578,690  
Bank of Shanghai Co. Ltd., Class A     8,412,011     7,142,694  
Beijing Capital International Airport Co. Ltd., Class H(a)     19,170,000     12,436,670  
Beijing Tiantan Biological Products Corp. Ltd., Class A     2,337,627     7,402,512  
Beijing Yuanliu Hongyuan Electronic Technology Co. Ltd., Class A     289,100     4,263,387  
Beijing-Shanghai High Speed Railway Co. Ltd., Class A     49,964,111     35,151,436  
BGI Genomics Co. Ltd., Class A     637,700     5,432,683  
BOE Technology Group Co. Ltd., Class A     49,001,700     25,084,626  
CGN Power Co. Ltd., Class H(b)     117,990,000     28,712,222  
Changchun High & New Technology Industry Group Inc., Class A     259,700     6,264,924  
Chifeng Jilong Gold Mining Co. Ltd., Class A(a)     2,641,600     7,470,696  
China CITIC Bank Corp. Ltd., Class H     82,805,000     36,820,283  
China Conch Venture Holdings Ltd.     16,172,500     37,009,915  
China Construction Bank Corp., Class A     13,822,284     10,986,898  
China Construction Bank Corp., Class H     85,593,000     51,800,873  
China Feihe Ltd.(b)     7,506,000     6,138,447  
China Huishan Dairy Holdings Co. Ltd.(c)     5,944,807     8  
China Life Insurance Co. Ltd., Class H     16,548,000     25,367,308  
China Mengniu Dairy Co. Ltd.     7,535,000     33,889,988  
China Minsheng Banking Corp. Ltd., Class A     30,637,954     15,335,256  
China Petroleum & Chemical Corp., Class H     20,714,000     9,778,953  
China Railway Signal & Communication Corp. Ltd., Class A     11,068,200     7,382,517  
China Resources Beer Holdings Co. Ltd.     1,588,000     11,003,666  
China Resources Gas Group Ltd.     3,703,300     13,149,066  
China Shenhua Energy Co. Ltd., Class H     3,788,500     11,742,274  
China Tourism Group Duty Free Corp. Ltd., Class A     971,063     27,624,337  
China Tower Corp. Ltd., Class H(b)     467,802,000     50,593,970  
China United Network Communications Ltd., Class A     45,235,535     28,410,769  
China Yangtze Power Co. Ltd., Class A     27,144,273     81,895,621  
China Zhenhua Group Science & Technology Co. Ltd., Class A     325,978     5,320,367  
Chongqing Zhifei Biological Products Co. Ltd., Class A     962,100     12,472,077  
CSPC Pharmaceutical Group Ltd.     13,780,000     17,753,002  
Daan Gene Co. Ltd., Class A     2,271,020     5,817,762  
Dali Foods Group Co. Ltd.(b)     14,493,000     6,855,906  
ENN Energy Holdings Ltd.     1,032,800     14,635,864  
Foshan Haitian Flavouring & Food Co. Ltd., Class A     678,821     6,795,292  
Security   Shares   Value  
               
China (continued)              
Founder Securities Co. Ltd., Class A     11,961,700   $ 11,564,585  
Fuyao Glass Industry Group Co. Ltd., Class A     797,803     4,229,523  
Gree Electric Appliances Inc. of Zhuhai, Class A     1,863,006     8,581,884  
Guangdong Haid Group Co. Ltd., Class A     2,374,372     19,101,382  
Guangdong Investment Ltd.     20,364,000     18,776,998  
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A     2,110,894     8,830,759  
Guangzhou Haige Communications Group Inc. Co.,Class A     3,476,600     4,297,356  
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A     729,887     7,117,001  
Hangzhou Tigermed Consulting Co. Ltd., Class H(b)     460,200     4,406,656  
Hansoh Pharmaceutical Group Co. Ltd.(b)     2,662,000     5,053,511  
Hengan International Group Co. Ltd.     2,968,500     13,683,136  
Hualan Biological Engineering Inc., Class A     1,760,410     5,150,274  
Huaxia Bank Co. Ltd., Class A     13,572,823     10,122,965  
Hundsun Technologies Inc., Class A     1,850,371     10,583,692  
Iflytek Co. Ltd., Class A     3,346,867     15,462,971  
Imeik Technology Development Co. Ltd., Class A     63,400     4,315,171  
Industrial & Commercial Bank of China Ltd., Class A     6,787,800     4,147,571  
Industrial & Commercial Bank of China Ltd., Class H     168,260,000     84,331,650  
Industrial Bank Co. Ltd., Class A     3,680,022     9,299,414  
Ingenic Semiconductor Co. Ltd., Class A     363,800     4,075,064  
Inspur Electronic Information Industry Co. Ltd., Class A     2,119,436     6,754,054  
Jiangsu Expressway Co. Ltd., Class H     29,110,000     26,224,529  
Jiangsu Hengrui Medicine Co. Ltd., Class A     5,679,169     32,286,296  
Joinn Laboratories China Co. Ltd., Class A     704,144     5,877,632  
Jointown Pharmaceutical Group Co. Ltd., Class A     2,678,242     5,142,006  
Kweichow Moutai Co. Ltd., Class A     74,390     16,993,971  
Legend Biotech Corp., ADR(a)     195,319     10,060,882  
Lenovo Group Ltd.(d)     13,098,000     11,186,292  
Liaoning Port Co Ltd., Class A     29,007,700     6,751,290  
LONGi Green Energy Technology Co. Ltd., Class A     605,840     3,983,898  
Muyuan Foods Co. Ltd., Class A     858,800     5,879,612  
Nongfu Spring Co. Ltd., Class H(b)     2,221,200     12,825,088  
People’s Insurance Co. Group of China Ltd. (The),Class H     173,362,000     58,150,217  
PetroChina Co. Ltd., Class A     7,211,900     5,390,681  
PICC Property & Casualty Co. Ltd., Class H     9,086,000     9,143,057  
Postal Savings Bank of China Co. Ltd., Class H(b)     90,899,000     54,973,311  
Sangfor Technologies Inc., Class A     333,700     5,371,760  
SDIC Power Holdings Co. Ltd., Class A     9,882,482     15,475,562  
SF Holding Co. Ltd., Class A     1,670,200     12,705,437  
Shandong Gold Mining Co. Ltd., Class A     5,266,073     15,356,645  
Shandong Gold Mining Co. Ltd., Class H(b)(d)     12,810,750     25,227,024  
Shanghai Baosight Software Co. Ltd., Class B     12,202,330     36,835,430  
Shanghai Friendess Electronic Technology Corp. Ltd., Class A     140,049     4,637,143  
Shanghai International Airport Co. Ltd., Class A(a)     796,400     6,329,228  
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B     28,357,340     22,797,997  
Shanghai M&G Stationery Inc., Class A     827,748     5,631,137  
Shanghai Pharmaceuticals Holding Co. Ltd., Class H     6,791,700     11,325,101  
Shanghai Pudong Development Bank Co. Ltd., Class A     7,957,186     8,170,320  
Shanghai RAAS Blood Products Co. Ltd., Class A     9,840,400     7,784,865  
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A     365,000     13,342,827  
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A     283,300     13,183,411  
Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A     1,252,872     6,227,412  
Sichuan Chuantou Energy Co. Ltd., Class A     5,240,110     8,898,016  

1

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
November 30, 2022 (Percentages shown are based on Net Assets)

 

Security   Shares   Value  
               
China (continued)              
Sino Biopharmaceutical Ltd.     24,479,000   $ 14,491,250  
Sinopec Shanghai Petrochemical Co. Ltd., Class A     9,163,767     4,303,035  
Sinopharm Group Co. Ltd., Class H     12,008,400     28,488,855  
Songcheng Performance Development Co. Ltd., Class A     2,109,259     4,313,646  
TCL Technology Group Corp., Class A     7,041,000     4,056,038  
TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A     1,734,907     10,364,302  
Tencent Holdings Ltd.     528,400     19,982,130  
Thunder Software Technology Co. Ltd., Class A     269,100     4,433,533  
Tianjin 712 Communication & Broadcasting Co. Ltd., Class A     1,128,294     5,979,224  
Tianshui Huatian Technology Co. Ltd., Class A     3,312,500     4,183,021  
Tingyi Cayman Islands Holding Corp.     6,338,000     10,366,093  
TravelSky Technology Ltd., Class H     3,253,000     6,609,384  
Walvax Biotechnology Co. Ltd., Class A     1,255,391     7,623,560  
Want Want China Holdings Ltd.(d)     22,576,000     15,324,661  
Wuliangye Yibin Co. Ltd., Class A     371,749     8,384,149  
WuXi AppTec Co. Ltd., Class H(b)     372,464     3,755,696  
Xiaomi Corp., Class B(a)(b)     15,493,600     20,993,179  
Yealink Network Technology Corp. Ltd., Class A     1,390,094     12,621,296  
Yonyou Network Technology Co. Ltd., Class A     1,598,600     5,241,851  
Yum China Holdings Inc.(d)     391,746     21,593,039  
Yunnan Baiyao Group Co. Ltd., Class A     582,958     4,703,532  
Zhejiang Dahua Technology Co. Ltd., Class A     2,228,400     3,792,306  
Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A     1,309,663     7,376,664  
Zhejiang Supor Co. Ltd., Class A     628,604     4,116,853  
Zhongji Innolight Co. Ltd., Class A     1,232,000     5,005,664  
Zhongsheng Group Holdings Ltd.     2,464,000     12,711,315  
ZTE Corp., Class A     5,631,120     19,815,200  
            2,057,117,420  
Czech Republic — 0.2%              
CEZ AS     444,957     15,290,488  
               
Egypt — 0.3%              
Commercial International Bank Egypt SAE     12,346,033     20,234,596  
               
Greece — 0.7%              
Hellenic Telecommunications Organization SA     3,108,571     48,088,398  
JUMBO SA     778,975     12,313,036  
            60,401,434  
               
Hong Kong — 0.2%              
Chow Tai Fook Jewellery Group Ltd.     11,255,000     19,683,048  
               
Hungary — 0.4%              
Richter Gedeon Nyrt     1,362,472     29,310,012  
               
India — 13.9%              
ACC Ltd.     707,855     22,367,858  
Adani Green Energy Ltd.(a)     216,661     5,681,499  
Apollo Hospitals Enterprise Ltd.     135,073     7,881,430  
Asian Paints Ltd.     1,096,325     42,793,263  
Bajaj Auto Ltd.     684,506     31,577,854  
Bharti Airtel Ltd.     3,201,814     33,459,846  
Biocon Ltd.     1,803,476     6,263,957  
Britannia Industries Ltd.     634,527     34,061,222  
Cipla Ltd.     3,457,471     48,641,999  
Colgate-Palmolive India Ltd.     310,443     6,226,353  
Dabur India Ltd.     6,937,391     50,319,737  
Divi’s Laboratories Ltd.     473,043     19,877,052  
Dr. Reddy’s Laboratories Ltd.     715,666     39,577,712  
Eicher Motors Ltd.     184,738     7,923,277  
Security   Shares   Value  
               
India (continued)              
HCL Technologies Ltd.     5,569,135   $ 77,302,778  
Hero MotoCorp Ltd.     310,147     10,861,358  
Hindustan Unilever Ltd.     2,311,106     76,352,062  
Housing Development Finance Corp. Ltd.     157,835     5,246,432  
Indus Towers Ltd.     1,659,853     4,084,600  
Infosys Ltd.     4,504,532     91,558,712  
Lupin Ltd.     1,840,026     17,352,557  
Marico Ltd.     6,726,993     41,990,859  
Maruti Suzuki India Ltd.     88,181     9,750,198  
Mphasis Ltd.     270,850     6,788,121  
MRF Ltd.     37,564     43,335,609  
Nestle India Ltd.     111,259     27,626,966  
Page Industries Ltd.     61,211     35,769,561  
Pidilite Industries Ltd.     1,586,374     53,708,811  
Reliance Industries Ltd.     985,675     33,155,643  
Sun Pharmaceutical Industries Ltd.     3,397,076     43,805,589  
Tata Consultancy Services Ltd.     2,400,477     100,809,175  
Tech Mahindra Ltd.     2,414,163     32,216,671  
Titan Co. Ltd.     1,144,765     37,570,487  
UltraTech Cement Ltd.     61,462     5,356,531  
Wipro Ltd.     8,325,501     42,174,603  
            1,153,470,382  
Indonesia — 0.8%              
Bank Central Asia Tbk PT     79,066,900     46,742,025  
Telkom Indonesia Persero Tbk PT     87,924,100     22,579,752  
            69,321,777  
Kuwait — 2.9%              
Agility Public Warehousing Co. KSC     3,180,748     8,213,560  
Kuwait Finance House KSCP     16,396,260     46,484,064  
Mobile Telecommunications Co. KSCP     37,873,372     72,492,590  
National Bank of Kuwait SAKP     30,015,627     109,821,762  
            237,011,976  
Malaysia — 4.6%              
DiGi.Com Bhd     23,077,000     20,834,959  
Genting Malaysia Bhd     6,720,500     4,054,392  
Hong Leong Bank Bhd(d)     8,587,500     40,359,462  
IHH Healthcare Bhd     37,152,600     48,600,638  
IOI Corp. Bhd     5,369,300     4,628,087  
Malayan Banking Bhd     40,089,500     77,921,846  
Malaysia Airports Holdings Bhd(a)     3,202,200     4,644,109  
MISC Bhd     4,461,900     7,246,975  
MR DIY Group M Bhd(b)     36,244,650     17,176,615  
Nestle Malaysia Bhd     1,805,000     56,372,007  
Petronas Chemicals Group Bhd     8,352,800     16,096,344  
Petronas Dagangan Bhd     2,748,700     14,696,815  
PPB Group Bhd     6,468,200     25,071,319  
Public Bank Bhd(d)     8,541,700     8,662,726  
Telekom Malaysia Bhd     7,124,700     9,005,690  
Tenaga Nasional Bhd     10,935,800     23,194,953  
            378,566,937  
Mexico — 0.9%              
America Movil SAB de CV, Series L, NVS     18,062,800     17,572,238  
Wal-Mart de Mexico SAB de CV(d)     14,357,400     57,090,273  
            74,662,511  
Peru — 0.7%              
Cia. de Minas Buenaventura SAA, ADR     2,486,968     20,293,659  
Credicorp Ltd.     245,426     37,685,162  
            57,978,821  

2

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
November 30, 2022 (Percentages shown are based on Net Assets)

 

Security   Shares   Value  
               
Philippines — 1.6%              
ACEN Corp.     34,086,000   $ 4,301,854  
Bank of the Philippine Islands     17,925,058     33,678,204  
BDO Unibank Inc.     6,896,393     15,961,820  
Globe Telecom Inc.     234,668     9,578,021  
International Container Terminal Services Inc.     8,504,050     30,963,253  
Jollibee Foods Corp.     2,345,560     10,199,898  
Manila Electric Co.     3,278,230     16,256,742  
PLDT Inc.     145,015     4,508,702  
SM Investments Corp.     307,765     5,139,652  
            130,588,146  
Qatar — 2.8%              
Masraf Al Rayan QSC     72,411,043     70,073,322  
Ooredoo QPSC.     5,010,644     12,092,660  
Qatar Electricity & Water Co. QSC     6,844,105     31,482,343  
Qatar Fuel QSC     1,666,797     8,232,007  
Qatar Islamic Bank SAQ     6,746,990     44,808,737  
Qatar National Bank QPSC     12,509,204     66,997,277  
            233,686,346  
Russia — 0.0%              
Polymetal International PLC(a)(c)     244,417     40  
Polyus PJSC(a)(c)     95,932     16  
Rosneft Oil Co. PJSC(c)     759,070     124  
Yandex NV(a)(c)     49,681     8  
            188  
Saudi Arabia — 9.1%              
Advanced Petrochemical Co.     1,166,921     13,001,368  
Al Rajhi Bank(a)     3,800,705     81,838,680  
Alinma Bank.     5,176,517     47,917,802  
Bank AlBilad(a)     454,085     6,292,262  
Bank Al-Jazira     2,197,024     12,458,330  
Bupa Arabia for Cooperative Insurance Co.     213,064     10,098,288  
Dallah Healthcare Co.     45,659     2,108,506  
Dar Al Arkan Real Estate Development Co.(a)     10,836,213     40,009,947  
Dr Sulaiman Al Habib Medical Services Group Co.     236,947     14,683,473  
Emaar Economic City(a)     10,185,327     23,291,993  
Etihad Etisalat Co.     7,018,500     68,458,368  
Jarir Marketing Co.     1,509,825     66,647,961  
Mobile Telecommunications Co.(a)     11,307,698     33,749,423  
Nahdi Medical Co.     73,537     3,716,707  
SABIC Agri-Nutrients Co.     1,418,290     54,910,118  
Saudi Arabian Oil Co.(b)     4,538,448     40,599,294  
Saudi Basic Industries Corp.     2,321,412     51,697,712  
Saudi Electricity Co.     5,993,954     39,745,697  
Saudi National Bank (The)     299,622     4,096,714  
Saudi Telecom Co.     11,978,257     123,136,253  
Yanbu National Petrochemical Co.     987,571     11,103,868  
            749,562,764  
South Korea — 6.4%              
Amorepacific Corp.     45,240     4,554,427  
BGF retail Co. Ltd.     105,954     16,509,495  
Celltrion Healthcare Co. Ltd.     101,810     5,110,315  
Celltrion Inc.     70,409     9,544,980  
CJ Logistics Corp.(a)     15,092     1,023,944  
Coway Co. Ltd.     359,527     15,828,815  
HMM Co. Ltd.(d)     1,218,336     20,996,918  
Hotel Shilla Co. Ltd.(d)     669,578     37,627,584  
Kakao Corp.     92,911     4,076,601  
Kangwon Land Inc.(a)     1,641,424     31,543,428  
Kia Corp.     81,226     4,277,678  
Security   Shares   Value  
               
South Korea (continued)              
Korea Electric Power Corp.(a)     272,129   $ 4,271,199  
KT&G Corp.     915,347     69,455,690  
LG Electronics Inc.     69,682     5,258,176  
LG H&H Co. Ltd.     8,018     4,046,198  
LG Uplus Corp.     1,949,482     18,021,516  
NAVER Corp.     169,829     24,686,953  
NCSoft Corp.     13,185     4,776,349  
Orion Corp./Republic of Korea     159,790     14,348,756  
Pan Ocean Co. Ltd.     1,251,653     5,206,856  
S-1 Corp.     406,355     19,875,653  
Samsung Biologics Co. Ltd.(a)(b)     67,610     45,984,132  
Samsung Electronics Co. Ltd.     1,539,315     73,962,472  
Samsung SDS Co. Ltd.     309,813     30,272,500  
Seegene Inc.     150,251     3,517,018  
SK Bioscience Co. Ltd.(a)(d)     58,654     3,751,654  
SK Hynix Inc.     369,311     24,374,520  
Yuhan Corp.     650,825     29,091,525  
            531,995,352  
Taiwan — 17.7%              
Accton Technology Corp.     913,000     8,124,116  
Advantech Co. Ltd.     5,584,855     60,792,992  
Asustek Computer Inc.     6,455,000     56,107,499  
Catcher Technology Co. Ltd.     677,000     4,008,704  
Cathay Financial Holding Co. Ltd.     8,466,034     12,047,657  
China Steel Corp.     16,494,000     15,657,494  
Chunghwa Telecom Co. Ltd.     34,309,000     126,288,347  
Compal Electronics Inc.     63,880,000     44,984,135  
Delta Electronics Inc.     1,061,000     10,491,922  
E.Sun Financial Holding Co. Ltd.     51,992,071     42,004,831  
Far EasTone Telecommunications Co. Ltd.     40,998,000     90,526,762  
First Financial Holding Co. Ltd.     147,814,796     126,171,588  
Formosa Petrochemical Corp.     5,952,000     16,400,970  
Formosa Plastics Corp.     5,724,840     16,791,545  
Hon Hai Precision Industry Co. Ltd.     5,842,000     19,128,380  
Hua Nan Financial Holdings Co. Ltd.     146,684,906     108,623,103  
Inventec Corp.     39,810,000     32,124,626  
Lite-On Technology Corp.     19,524,752     41,668,722  
Mega Financial Holding Co. Ltd.     31,111,150     32,400,992  
Novatek Microelectronics Corp.     602,000     5,898,560  
Pou Chen Corp.     7,799,000     8,214,280  
President Chain Store Corp.     13,746,000     121,522,789  
Quanta Computer Inc.     6,586,000     15,350,222  
Synnex Technology International Corp.     24,605,000     46,789,656  
Taiwan Business Bank     33,247,000     14,092,498  
Taiwan Cement Corp     12,273,000     13,462,157  
Taiwan Cooperative Financial Holding Co. Ltd.     127,225,509     110,473,739  
Taiwan High Speed Rail Corp.     17,969,000     16,897,649  
Taiwan Mobile Co. Ltd.     39,869,000     123,492,115  
Taiwan Semiconductor Manufacturing Co. Ltd.     4,508,000     72,397,799  
Uni-President Enterprises Corp.     15,542,000     33,357,993  
WPG Holdings Ltd.     14,478,440     22,855,297  
            1,469,149,139  
Thailand — 6.4%              
Advanced Info Service PCL, NVDR     18,131,000     97,450,846  
Airports of Thailand PCL, NVDR(a)     42,774,600     91,352,700  
Asset World Corp. PCL, NVDR     125,552,000     22,429,536  
Bangkok Dusit Medical Services PCL, NVDR     86,100,000     74,172,351  
Bangkok Expressway & Metro PCL, NVDR     17,471,600     4,648,437  
Bumrungrad Hospital PCL, NVDR     6,488,500     41,970,313  
Central Retail Corp. PCL, NVDR     14,500,000     17,680,420  

3

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor ETF
November 30, 2022 (Percentages shown are based on Net Assets)

 

Security   Shares   Value  
               
Thailand (continued)              
CP ALL PCL, NVDR     33,493,500   $ 62,011,180  
Home Product Center PCL, NVDR     62,740,700     26,322,628  
Intouch Holdings PCL, NVDR     20,157,700     42,387,240  
Osotspa PCL, NVDR     20,679,000     16,646,538  
PTT Oil & Retail Business PCL, NVDR     32,057,500     22,238,786  
Siam Cement PCL (The), NVDR     1,089,100     10,413,859  
            529,724,834  
Turkey — 0.1%              
BIM Birlesik Magazalar AS     577,913     4,190,697  
               
United Arab Emirates — 4.2%              
Abu Dhabi National Oil Co. for Distribution PJSC     80,241,549     99,579,848  
Aldar Properties PJSC     46,587,917     60,469,673  
Dubai Islamic Bank PJSC     22,798,718     35,370,779  
Emirates Telecommunications Group Co. PJSC     14,441,150     101,544,658  
First Abu Dhabi Bank PJSC     9,230,901     44,269,155  
Q Holding PJSC(a)     8,045,271     9,856,448  
            351,090,561  
Total Common Stocks — 99.1%              
(Cost: $7,776,134,278)           8,204,704,911  
               
Preferred Stocks              
               
Russia — 0.0%              
Surgutneftegas PJSC, Preference Shares, NVS(c)     40,815,200     6,688  
               
South Korea — 0.6%              
LG H&H Co. Ltd., Preference Shares, NVS     9,186     1,964,647  
Samsung Electronics Co. Ltd., Preference Shares, NVS     1,126,848     48,456,327  
            50,420,974  
Total Preferred Stocks — 0.6%              
(Cost: $77,146,312)           50,427,662  
               
Rights              
               
South Korea — 0.0%              
HLB Inc., (Expires 12/09/22, Strike Price KRW 25,200.00)(a)     13,747     76,613  
Security     Shares     Value  
               
Switzerland — 0.0%              
Kangmei Pharmaceutical Co. Ltd.     167,567   $ —  
               
Total Rights — 0.0%              
(Cost: $—)           76,613  
               
Total Long-Term Investments — 99.7%              
(Cost: $7,853,280,590)           8,255,209,186  
               
Short-Term Securities              
               
Money Market Funds — 1.0%              
BlackRock Cash Funds: Institutional, SL Agency Shares, 4.06%(e)(f)(g)     86,620,485     86,629,147  
               
Total Short-Term Securities — 1.0%              
(Cost: $86,600,301)           86,629,147  
               
Total Investments — 100.7%              
(Cost: $7,939,880,891)           8,341,838,333  
               
Liabilities in Excess of Other Assets — (0.7)%           (58,650,337 )
               
Net Assets — 100.0%         $ 8,283,187,996  

 

(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)Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(d)All or a portion of this security is on loan.

(e)Affiliate of the Fund.

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

(g)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   $ 78,672,519   $ 7,959,388 (a) $ —   $ 8,149   $ (10,909 ) $ 86,629,147     86,620,485   $ 292,169 (b) $ —  
BlackRock Cash Funds: Treasury, SL Agency Shares(c)     13,620,000     —     (13,620,000 )(a)   —     —     —     —     49,124     —  
                      $ 8,149   $ (10,909 ) $ 86,629,147         $ 341,293   $ —  

 

(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.

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

 

4

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Emerging Markets Min Vol Factor 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                          
MSCI Emerging Markets Index     449     12/16/22   $ 22,057   $ 1,514,558  
2-Year U.S. Treasury Note     22     03/31/23     4,522     11,352  
                      $ 1,525,910  

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   $ 339,470,203   $ 7,865,234,512   $ 196   $ 8,204,704,911  
Preferred Stocks     —     50,420,974     6,688     50,427,662  
Rights     —     76,613     —     76,613  
Money Market Funds     86,629,147     —     —     86,629,147  
    $ 426,099,350   $ 7,915,732,099   $ 6,884   $ 8,341,838,333  
Derivative financial instruments(a)                          
Assets                          
Futures Contracts   $ 1,525,910   $ —   $ —   $ 1,525,910  

 

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

 

Portfolio Abbreviation

 

ADR American Depositary Receipt
NVDR Non-Voting Depositary Receipt
NVS Non-Voting Shares
PJSC Public Joint Stock Company

 

5