NPORT-EX 2 NPORT_2Q1R_98522276_1122.htm
Schedule of Investments (unaudited) iShares® MSCI Global Silver and Metals Miners ETF
November 30, 2022 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Canada — 67.2%          
Agnico Eagle Mines Ltd.   172,759   $8,701,202 
Aya Gold & Silver Inc.(a)   861,486    5,302,832 
Dundee Precious Metals Inc.   328,739    1,551,866 
Eldorado Gold Corp.(a)   274,712    2,105,550 
Endeavour Silver Corp.(a)(b)   1,787,473    6,046,167 
First Majestic Silver Corp.   1,917,904    17,808,141 
Fortuna Silver Mines Inc.(a)   2,399,510    8,954,793 
GoGold Resources Inc.(a)(b)   2,827,249    4,119,547 
i-80 Gold Corp.(a)   266,282    756,196 
Kinross Gold Corp.   695,386    2,874,286 
Lundin Gold Inc.   124,331    1,226,534 
MAG Silver Corp.(a)(b)   543,731    8,545,124 
New Gold Inc.(a)   1,120,454    1,241,108 
New Pacific Metals Corp.(a)(b)   1,015,986    2,145,040 
Orla Mining Ltd.(a)   320,452    1,191,139 
Pan American Silver Corp.   1,758,081    28,871,136 
Seabridge Gold Inc.(a)   108,644    1,355,274 
Silvercorp Metals Inc.   1,720,373    4,808,834 
SilverCrest Metals Inc.(a)   1,312,406    8,712,624 
SSR Mining Inc.   175,669    2,661,513 
Victoria Gold Corp.(a)   76,973    464,648 
Wheaton Precious Metals Corp.   209,656    8,182,686 
Yamana Gold Inc.   524,154    2,856,223 
         130,482,463 
China — 0.2%          
Chifeng Jilong Gold Mining Co. Ltd., Class A(a)   128,700    363,976 
           
Japan — 4.5%          
Asahi Holdings Inc.   580,500    8,686,718 
           
Mexico — 7.8%          
Industrias Penoles SAB de CV   1,124,371    15,115,546 
           
Peru — 0.7%          
Cia. de Minas Buenaventura SAA, ADR   165,364    1,349,370 
           
Russia — 0.0%          
Polymetal International PLC(a)(c)   183,040    30 
Security  Shares   Value 
         
South Africa — 0.7%          
Harmony Gold Mining Co. Ltd.   409,988   $1,484,419 
           
United Kingdom — 0.2%          
Hochschild Mining PLC.   526,593    448,090 
           
United States — 18.2%          
Coeur Mining Inc.(a)(b)   426,728    1,493,548 
Hecla Mining Co.   4,617,432    25,165,005 
Newmont Corp.   182,683    8,671,962 
         35,330,515 
Total Long-Term Investments — 99.5%          
(Cost: $240,635,325)        193,261,127 
           
Short-Term Securities          
           
Money Market Funds — 2.0%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 4.06%(d)(e)(f)   3,953,765    3,954,160 
BlackRock Cash Funds: Treasury, SL Agency Shares, 3.64%(d)(e)   50,000    50,000 
           
Total Short-Term Securities — 2.0%          
(Cost: $4,004,928)        4,004,160 
           
Total Investments — 101.5%          
(Cost: $244,640,253)        197,265,287 
           
Liabilities in Excess of Other Assets — (1.5)%        (2,997,944)
Net Assets — 100.0%       $194,267,343 

 

(a)Non-income producing security.

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

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

(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  $6,273,237   $—   $(2,316,477)(a)  $3,639   $(6,239)  $3,954,160    3,953,765   $41,027(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   60,000    —    (10,000)(a)   —    —    50,000    50,000    466    — 
                  $3,639   $(6,239)  $4,004,160        $41,493   $— 

 

(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 Global Silver and Metals Miners 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   3   12/15/22  $553   $28,759 

 

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  $182,277,894   $10,983,203   $30   $193,261,127 
Money Market Funds   4,004,160    —    —    4,004,160 
   $186,282,054   $10,983,203   $30   $197,265,287 
Derivative financial instruments(a)                    
Assets                    
Futures Contracts  $28,759   $—   $—   $28,759 

 

(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

 

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