NPORT-EX 2 NPORT_2QWD_66712908_0123.htm

 

Schedule of Investments (unaudited) iShares® International High Yield Bond ETF
January 31, 2023 (Percentages shown are based on Net Assets)

 

Security   Par
(000)		   Value 
         
Corporate Bonds & Notes        
         
Austria — 0.2%        
ams-OSRAM AG, 6.00%, 07/31/25 (Call 03/02/23)(a)   EUR 100   $104,514 
           
Belgium — 0.2%          
Telenet Finance Luxembourg Notes Sarl, 3.50%, 03/01/28 (Call 02/10/23)(a)   EUR 100    97,998 
           
Canada — 1.4%          
Air Canada, 4.63%, 08/15/29 (Call 02/15/26)(b)   CAD 300    204,784 
Brookfield Residential Properties Inc./Brookfield Residential U.S. LLC, 5.13%, 06/15/29   CAD   25    15,384 
Mattamy Group Corp., 4.63%, 03/01/28 (Call 03/01/23)(a)   CAD   50    32,331 
Parkland Corp.          
3.88%, 06/16/26 (Call 06/16/23)(b)   CAD 100    69,388 
4.38%, 03/26/29 (Call 03/26/24)   CAD   75    49,052 
Southern Pacific Resource Corp., 0.00%, 01/25/18(b)(c)(d)(e)(f)   CAD   50    — 
Tamarack Valley Energy Ltd., 7.25%, 05/10/27 (Call 05/10/24)(b)   CAD   25    17,889 
Videotron Ltd.          
3.13%, 01/15/31 (Call 01/15/26)   CAD 100    59,299 
3.63%, 06/15/28 (Call 06/15/24)(b)   CAD 150    99,101 
4.50%, 01/15/30 (Call 10/15/24)   CAD 150    99,313 
         646,541 
Cyprus — 0.2%          
Bank of Cyprus PCL, 2.50%, 06/24/27 (Call 06/24/26)(a)(g)   EUR 100    91,259 
           
Finland — 1.4%          
Nokia Oyj, 3.13%, 05/15/28 (Call 02/15/28)(a)   EUR 100    103,274 
Nokia OYJ          
2.00%, 03/15/24 (Call 12/15/23)(a)   EUR 100    106,543 
2.00%, 03/11/26 (Call 12/11/25)   EUR 150    153,454 
Teollisuuden Voima OYJ          
1.13%, 03/09/26 (Call 12/09/25)(a)   EUR 200    195,761 
1.38%, 06/23/28 (Call 03/23/28)(a)   EUR 100    92,035 
         651,067 
France — 14.5%          
Accor SA          
2.38%, 11/29/28 (Call 08/29/28)(a)   EUR 100    94,976 
3.00%, 02/04/26 (Call 11/04/25)(a)   EUR 100    105,195 
Adevinta ASA          
2.63%, 11/15/25 (Call 02/03/23)(a)   EUR 100    103,173 
3.00%, 11/15/27 (Call 11/15/23)(a)   EUR 100    98,435 
Altice France SA/France          
2.13%, 02/15/25 (Call 01/29/24)(a)   EUR 150    150,210 
4.00%, 07/15/29 (Call 04/15/24)(a)   EUR 100    83,444 
4.25%, 10/15/29 (Call 10/15/24)(a)   EUR 100    83,546 
5.88%, 02/01/27 (Call 03/02/23)(a)   EUR 250    245,705 
Atos SE          
1.00%, 11/12/29 (Call 08/12/29)(a)   EUR 100    71,320 
1.75%, 05/07/25 (Call 02/07/25)(a)   EUR 200    190,347 
Banijay Entertainment SASU, 3.50%, 03/01/25 (Call 03/02/23)(a)   EUR 100    104,723 
CAB SELAS, 3.38%, 02/01/28 (Call 02/01/24)   EUR 200    180,978 
Casino Guichard Perrachon SA          
3.58%, 02/07/25 (Call 11/07/24)(a)   EUR 100    77,504 
5.25%, 04/15/27 (Call 04/15/23)(a)   EUR 100    63,252 
6.63%, 01/15/26 (Call 03/02/23)(a)   EUR 100    66,628 
CGG SA, 7.75%, 04/01/27 (Call 04/01/24)(a)   EUR 100    96,669 
Chrome Bidco SASU, 3.50%, 05/31/28 (Call 05/31/24)(a)   EUR 100    90,145 
Chrome Holdco SASU, 5.00%, 05/31/29 (Call 05/31/24)(a)   EUR 100    83,882 
Security   Par
(000)		   Value 
           
France (continued)          
Elis SA          
1.63%, 04/03/28 (Call 01/03/28)(a)   EUR 100   $93,578 
1.75%, 04/11/24 (Call 01/11/24)(a)   EUR 100    105,663 
4.13%, 05/24/27 (Call 02/24/27)(a)   EUR 100    106,458 
Faurecia SE          
2.38%, 06/15/27 (Call 06/15/23)(a)   EUR 100    92,966 
2.63%, 06/15/25 (Call 03/02/23)(a)   EUR 100    102,575 
2.75%, 02/15/27 (Call 02/15/24)(a)   EUR 125    120,164 
3.13%, 06/15/26 (Call 03/02/23)(a)   EUR 100    99,843 
3.75%, 06/15/28 (Call 06/15/23)(a)   EUR 200    191,574 
7.25%, 06/15/26 (Call 11/15/24)(a)   EUR 100    111,729 
Iliad Holding SASU          
5.13%, 10/15/26 (Call 10/15/23)(a)   EUR 150    155,104 
5.63%, 10/15/28 (Call 10/15/24)(a)   EUR 100    101,087 
iliad SA          
1.50%, 10/14/24 (Call 07/14/24)(a)   EUR 100    104,222 
1.88%, 04/25/25 (Call 01/25/25)(a)   EUR 300    306,238 
5.38%, 06/14/27 (Call 03/14/27)(a)   EUR 200    217,309 
La Financiere Atalian SASU, 4.00%, 05/15/24          
(Call 02/10/23)(a)   EUR 100    95,251 
Loxam SAS          
2.88%, 04/15/26 (Call 02/10/23)(a)   EUR 100    99,543 
4.50%, 02/15/27 (Call 02/15/24)(a)   EUR 175    180,287 
Paprec Holding SA          
3.50%, 07/01/28 (Call 07/01/24)(a)   EUR 100    93,785 
4.00%, 03/31/25 (Call 03/02/23)(a)   EUR 100    105,228 
Parts Europe SA, 6.50%, 07/16/25 (Call 03/02/23)(a)   EUR 100    109,213 
Picard Groupe SAS, 3.88%, 07/01/26 (Call 07/01/23)(a)   EUR 100    98,332 
Quatrim SASU, 5.88%, 01/15/24 (Call 02/10/23)(a)   EUR 100    105,999 
RCI Banque SA, 2.63%, 02/18/30 (Call 02/18/25)(a)(g)   EUR 200    199,428 
Renault SA          
1.00%, 04/18/24 (Call 01/18/24)(a)   EUR 100    104,650 
1.00%, 11/28/25 (Call 08/28/25)(a)   EUR   70    70,543 
1.25%, 06/24/25 (Call 03/24/25)(a)   EUR 100    99,852 
2.00%, 09/28/26 (Call 06/28/26)(a)   EUR 100    97,496 
2.50%, 06/02/27 (Call 03/02/27)(a)   EUR 200    195,294 
2.50%, 04/01/28 (Call 01/01/28)(a)   EUR 100    94,910 
Rexel SA, 2.13%, 12/15/28 (Call 12/15/24)(a)   EUR 100    93,241 
SPIE SA, 3.13%, 03/22/24 (Call 02/10/23)(a)   EUR 100    108,327 
Tereos Finance Groupe I SA          
7.25%, 04/15/28   EUR 100    108,519 
7.50%, 10/30/25 (Call 03/02/23)(a)   EUR 100    111,247 
Valeo          
1.00%, 08/03/28 (Call 05/03/28)(a)   EUR 100    86,586 
1.50%, 06/18/25 (Call 03/18/25)(a)   EUR 100    103,070 
3.25%, 01/22/24(a)   EUR 100    108,111 
5.38%, 05/28/27 (Call 02/28/27)(a)   EUR 100    109,302 
Verallia SA          
1.63%, 05/14/28 (Call 02/14/28)(a)   EUR 100    95,056 
1.88%, 11/10/31 (Call 08/10/31)   EUR 100    86,866 
         6,658,778 
Germany — 10.8%          
ADLER Group SA          
1.50%, 07/26/24 (Call 04/26/24)(a)(c)(e)   EUR 100    75,380 
1.88%, 01/14/26 (Call 10/14/25)(a)   EUR 100    47,653 
2.25%, 01/14/29 (Call 10/14/28)(a)   EUR 200    86,519 
ADLER Real Estate AG          
1.88%, 04/27/23 (Call 03/27/23)(a)   EUR 100    102,419 
2.13%, 02/06/24 (Call 01/06/24)(a)   EUR 100    97,348 

1

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2023 (Percentages shown are based on Net Assets)

 

Security   Par
(000)		   Value 
           
Germany (continued)          
Bayer AG          
2.38%, 11/12/79 (Call 02/12/25)(a)(g)   EUR 100   $101,071 
3.13%, 11/12/79 (Call 08/12/27)(g)   EUR 100    95,354 
3.75%, 07/01/74 (Call 07/01/24)(a)(g)   EUR 200    211,713 
5.38%, 03/25/82 (Call 06/25/30)(a)(g)   EUR 100    99,836 
Series N5.5, 4.50%, Series N5.5, 03/25/82 (Call 06/25/27)(a)(g)   EUR 100    102,228 
Bertelsmann SE & Co. KGaA, 3.50%, 04/23/75 (Call 04/23/27)(a)(g)   EUR 100    100,542 
Cheplapharm Arzneimittel GmbH, 4.38%, 01/15/28 (Call 01/15/24)(a)   EUR 150    148,772 
Commerzbank AG          
4.00%, 03/23/26(a)   EUR 100    107,572 
4.00%, 03/30/27(a)   EUR   75    80,512 
4.00%, 12/05/30 (Call 09/05/25)(a)(g)   EUR 100    104,698 
6.50%, 12/06/32 (Call 09/06/27)(a)(g)   EUR 100    111,148 
8.63%, 02/28/33 (Call 11/28/27)(a)(g)   GBP 100    127,912 
Deutsche Lufthansa AG          
2.00%, 07/14/24 (Call 06/14/24)(a)   EUR 100    105,037 
2.88%, 02/11/25 (Call 01/11/25)(a)   EUR 200    207,999 
3.00%, 05/29/26 (Call 03/02/26)(a)   EUR 300    303,302 
3.50%, 07/14/29 (Call 04/14/29)(a)   EUR 100    94,644 
4.38%, 08/12/75 (Call 02/12/26)(a)(g)   EUR 100    93,508 
Douglas GmbH, 6.00%, 04/08/26 (Call 04/15/23)(a)   EUR 200    187,077 
Evonik Industries AG, 1.38%, 09/02/81 (Call 09/02/26)(a)(g)   EUR 100    91,914 
Gruenenthal GmbH, 3.63%, 11/15/26 (Call 05/15/23)(a)   EUR 100    99,755 
Nidda Healthcare Holding GmbH, 7.50%, 08/21/26 (Call 04/30/24)(a)   EUR 200    211,654 
Schaeffler AG          
1.88%, 03/26/24 (Call 12/26/23)(a)   EUR 200    211,796 
2.75%, 10/12/25 (Call 07/12/25)   EUR 100    103,774 
2.88%, 03/26/27 (Call 12/26/26)(a)   EUR   75    76,460 
3.38%, 10/12/28 (Call 07/12/28)   EUR 100    97,974 
Techem Verwaltungsgesellschaft 675 mbH, 2.00%, 07/15/25 (Call 03/02/23)(a)   EUR 150    150,755 
thyssenkrupp AG          
2.50%, 02/25/25(a)   EUR 100    106,497 
2.88%, 02/22/24 (Call 11/22/23)(a)   EUR 175    187,240 
TK Elevator Holdco GmbH, 6.63%, 07/15/28 (Call 07/15/23)(a)   EUR   90    86,263 
TK Elevator Midco GmbH, 4.38%, 07/15/27 (Call 07/15/23)(a)   EUR 100    98,129 
ZF Europe Finance BV          
2.00%, 02/23/26 (Call 12/23/25)(a)   EUR 100    98,128 
2.50%, 10/23/27 (Call 07/23/27)(a)   EUR 100    92,435 
3.00%, 10/23/29 (Call 07/23/29)(a)   EUR 100    88,955 
ZF Finance GmbH          
2.00%, 05/06/27 (Call 02/06/27)(a)   EUR 100    93,008 
2.25%, 05/03/28 (Call 02/03/28)(a)   EUR 100    89,953 
3.00%, 09/21/25 (Call 06/21/25)(a)   EUR 100    103,016 
3.75%, 09/21/28 (Call 06/21/28)(a)   EUR 100    95,540 
         4,975,490 
Gibraltar — 0.2%          
888 Acquisitions Ltd., 7.56%, 07/15/27 (Call 07/15/24)(a)   EUR 100    93,550 
           
Greece — 2.4%          
Alpha Bank SA          
2.50%, 03/23/28 (Call 03/23/27)(a)(g)   EUR 100    90,534 
7.50%, 06/16/27   EUR 100    109,650 
Alpha Services and Holdings SA, 4.25%, 02/13/30 (Call 02/13/25)(a)(g)   EUR 100    92,007 
Security   Par
(000)		   Value 
           
Greece (continued)          
Eurobank SA          
2.00%, 05/05/27 (Call 05/05/26)(a)(g)   EUR 100   $92,932 
2.25%, 03/14/28 (Call 03/14/27)(a)(g)   EUR 100    90,351 
7.00%, 01/26/29   EUR 100    107,801 
National Bank of Greece SA          
2.75%, 10/08/26 (Call 10/08/25)(a)(g)   EUR 100    100,650 
7.25%, 11/22/27 (Call 11/22/26)(a)(g)   EUR 100    111,673 
Piraeus Bank SA, 8.25%, 01/28/27 (Call 01/28/26)(a)(g)   EUR 100    110,088 
Piraeus Financial Holdings SA, 9.75%, 06/26/29 (Call 06/26/24)(a)(g)   EUR 100    107,747 
Public Power Corp. SA, 3.88%, 03/30/26 (Call 03/30/23)(a)   EUR 100    102,477 
         1,115,910 
Ireland — 1.6%          
AIB Group PLC          
1.88%, 11/19/29 (Call 11/19/24)(a)(g)   EUR 100    101,338 
2.88%, 05/30/31 (Call 05/30/26)(a)(g)   EUR 100    99,739 
Bank of Ireland Group PLC          
1.38%, 08/11/31 (Call 05/11/26)(a)(g)   EUR 100    94,838 
6.75%, 03/01/33 (Call 12/01/27)(a)(g)   EUR 100    113,638 
7.59%, 12/06/32 (Call 09/06/27)(a)(g)   GBP 100    126,746 
eircom Finance DAC          
1.75%, 11/01/24 (Call 03/02/23)(a)   EUR 100    105,502 
3.50%, 05/15/26 (Call 03/02/23)(a)   EUR 100    100,340 
         742,141 
Israel — 1.7%          
Teva Pharmaceutical Finance Netherlands II BV          
1.13%, 10/15/24(a)   EUR 100    102,746 
1.63%, 10/15/28(a)   EUR 150    125,943 
3.75%, 05/09/27 (Call 02/09/27)   EUR 250    245,138 
4.38%, 05/09/30 (Call 02/09/30)   EUR 200    186,629 
4.50%, 03/01/25 (Call 12/01/24)   EUR 100    106,397 
         766,853 
Italy — 14.6%          
Atlantia SpA          
1.63%, 02/03/25(a)   EUR 100    102,103 
1.88%, 07/13/27 (Call 04/13/27)(a)   EUR 175    168,224 
1.88%, 02/12/28 (Call 11/12/27)(a)   EUR 100    93,613 
Banca IFIS SpA, 6.13%, 01/19/27   EUR 100    108,856 
Banca Monte dei Paschi di Siena SpA          
1.88%, 01/09/26(a)   EUR 100    94,838 
2.63%, 04/28/25(a)   EUR 100    99,729 
3.63%, 09/24/24(a)   EUR 200    208,951 
7.68%, 01/18/28(a)(g)   EUR 100    94,341 
10.50%, 07/23/29(a)   EUR 100    108,457 
Banca Popolare di Sondrio SCPA, 2.38%, 04/03/24(a)   EUR 100    106,535 
Banco BPM SpA          
3.25%, 01/14/31 (Call 01/14/26)(a)(g)   EUR 100    97,312 
4.25%, 10/01/29 (Call 10/01/24)(a)(g)   EUR 100    105,703 
4.88%, 01/18/27   EUR 100    107,495 
5.00%, 09/14/30 (Call 09/14/25)(a)(g)   EUR 100    106,513 
6.00%, 09/13/26(a)   EUR 150    167,988 
6.00%, 01/21/28 (Call 01/21/27)(a)(g)   EUR 150    163,928 
BPER Banca          
1.88%, 07/07/25(a)   EUR 100    101,294 
3.88%, 07/25/32 (Call 01/25/27)(a)(g)   EUR 200    183,643 
6.13%, 02/01/28 (Call 02/01/27)(a)(g)   EUR 150    163,629 
Brunello Bidco SpA, 3.50%, 02/15/28 (Call 02/15/24)(a)   EUR 100    94,884 
Fiber Bidco Spa, 11.00%, 10/25/27 (Call 10/25/24)(a)   EUR 100    117,653 

2 

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2023 (Percentages shown are based on Net Assets)

 

Security   Par
(000)		   Value 
           
Italy (continued)          
Iccrea Banca SpA          
2.13%, 01/17/27 (Call 01/17/26)(a)(g)   EUR 100   $96,884 
4.13%, 11/28/29 (Call 11/28/24)(a)(g)   EUR 100    102,561 
6.38%, 09/20/27 (Call 09/20/26)(a)(g)   EUR 100    108,954 
6.88%, 01/20/28   EUR 100    109,847 
IMA Industria Macchine Automatiche SpA, 3.75%, 01/15/28 (Call 02/10/23)(a)   EUR 100    94,598 
Infrastrutture Wireless Italiane SpA          
1.75%, 04/19/31 (Call 01/19/31)(a)   EUR 100    88,298 
1.88%, 07/08/26 (Call 04/08/26)(a)   EUR 150    150,598 
Intesa Sanpaolo SpA          
2.93%, 10/14/30(a)   EUR 100    89,756 
5.15%, 06/10/30(a)   GBP 100    104,956 
5.88%, 03/04/29 (Call 03/04/24)(a)(g)   EUR 250    275,184 
Leonardo SpA, 2.38%, 01/08/26 (Call 10/08/25)(a)   EUR 100    103,565 
Lottomatica SpA, 9.75%, 09/30/27 (Call 09/30/24)(a)   EUR 100    114,970 
Lottomatica SpA/Roma, 5.13%, 07/15/25 (Call 02/10/23)(a)   EUR 100    104,817 
Mediobanca Banca di Credito Finanziario SpA, 3.75%, 06/16/26   EUR   50    52,850 
Nexi SpA          
1.63%, 04/30/26 (Call 01/30/26)(a)   EUR 100    97,213 
2.13%, 04/30/29 (Call 01/30/29)(a)   EUR 150    129,903 
Rossini Sarl, 6.75%, 10/30/25 (Call 03/02/23)(a)   EUR 100    109,222 
Saipem Finance International BV          
2.63%, 01/07/25(a)   EUR 100    104,696 
3.13%, 03/31/28 (Call 12/31/27)(a)   EUR 100    94,240 
Telecom Italia SpA, 6.88%, 02/15/28 (Call 11/15/27)(a)   EUR 200    217,362 
Telecom Italia SpA/Milano          
1.63%, 01/18/29 (Call 10/18/28)(a)   EUR 100    82,287 
2.38%, 10/12/27 (Call 07/12/27)(a)   EUR 100    90,952 
2.75%, 04/15/25 (Call 01/15/25)(a)   EUR 200    203,085 
2.88%, 01/28/26 (Call 10/28/25)(a)   EUR 300    296,926 
3.63%, 05/25/26(a)   EUR 100    100,745 
4.00%, 04/11/24 (Call 01/11/24)(a)   EUR 100    106,535 
UniCredit SpA          
2.00%, 09/23/29 (Call 09/23/24)(a)(g)   EUR 200    202,940 
2.73%, 01/15/32 (Call 01/15/27)(a)(g)   EUR 200    189,326 
4.88%, 02/20/29 (Call 02/20/24)(a)(g)   EUR 200    215,840 
Webuild SpA          
1.75%, 10/26/24(a)   EUR 150    150,655 
5.88%, 12/15/25 (Call 06/15/25)(a)   EUR 100    103,475 
         6,688,929 
Japan — 1.5%          
SoftBank Group Corp.          
2.13%, 07/06/24 (Call 04/06/24)(a)   EUR 175    180,492 
2.88%, 01/06/27 (Call 10/06/26)(a)   EUR 100    94,848 
3.13%, 09/19/25 (Call 06/21/25)(a)   EUR 100    101,317 
3.38%, 07/06/29 (Call 04/06/29)(a)   EUR 125    109,540 
3.88%, 07/06/32 (Call 04/06/32)(a)   EUR 100    82,862 
5.00%, 04/15/28 (Call 01/16/28)(a)   EUR 100    98,978 
         668,037 
Luxembourg — 3.9%          
Altice Financing SA          
2.25%, 01/15/25 (Call 01/15/24)(a)   EUR 100    101,383 
3.00%, 01/15/28 (Call 03/02/23)(a)   EUR 200    173,795 
4.25%, 08/15/29 (Call 08/15/24)(a)   EUR 100    87,766 
Altice Finco SA, 4.75%, 01/15/28 (Call 03/02/23)(a)   EUR 100    83,651 
Altice France Holding SA          
4.00%, 02/15/28 (Call 03/02/23)(a)   EUR 100    72,924 
Security   Par
(000)		   Value 
           
Luxembourg (continued)          
8.00%, 05/15/27 (Call 02/10/23)(a)   EUR 200   $176,943 
Cidron Aida Finco Sarl, 5.00%, 04/01/28 (Call 04/01/24)(a)   EUR 100    97,712 
Garfunkelux Holdco 3 SA, 6.75%, 11/01/25 (Call 11/01/23)(a)   EUR 100    82,643 
INEOS Finance PLC          
2.13%, 11/15/25 (Call 02/10/23)(a)   EUR 100    99,433 
2.88%, 05/01/26 (Call 02/10/23)(a)   EUR 175    170,877 
Matterhorn Telecom SA, 3.13%, 09/15/26 (Call 03/02/23)(a)   EUR 200    198,602 
Mytilineos Financial Partners SA, 2.50%, 12/01/24 (Call 06/01/24)(a)   EUR 200    213,207 
Summer BC Holdco B Sarl, 5.75%, 10/31/26 (Call 03/02/23)(a)   EUR 150    146,309 
Vivion Investments Sarl, 3.00%, 08/08/24(a)   EUR 100    91,250 
         1,796,495 
Netherlands — 4.5%          
Lincoln Financing Sarl, 3.63%, 04/01/24 (Call 03/02/23)(a)   EUR 200    216,292 
OI European Group BV, 2.88%, 02/15/25 (Call 03/02/23)(a)   EUR 100    104,466 
PPF Telecom Group BV          
2.13%, 01/31/25 (Call 10/31/24)   EUR 100    102,821 
3.25%, 09/29/27 (Call 06/29/27)(a)   EUR 100    99,086 
3.50%, 05/20/24 (Call 02/20/24)(a)   EUR 100    106,949 
Q-Park Holding I BV, 2.00%, 03/01/27 (Call 03/02/23)(a)   EUR 100    91,885 
Sigma Holdco BV, 5.75%, 05/15/26 (Call 02/10/23)(a)   EUR 100    82,960 
SNS Bank NV, 0.00%, 10/26/20(d)(f)   EUR   50    — 
Trivium Packaging Finance BV, 3.75%, 08/15/26          
(Call 03/02/23)(a)   EUR 100    101,237 
United Group BV          
3.63%, 02/15/28 (Call 03/02/23)(a)   EUR 200    171,546 
4.88%, 07/01/24 (Call 03/02/23)(a)   EUR 200    209,706 
5.25%, 02/01/30 (Call 02/01/25)(a)   EUR 100    86,051 
UPC Holding BV, 3.88%, 06/15/29 (Call 03/02/23)(a)   EUR 100    95,016 
VZ Vendor Financing II BV, 2.88%, 01/15/29 (Call 12/18/23)(a)   EUR 200    170,735 
WP/AP Telecom Holdings III BV, 5.50%, 01/15/30 (Call 01/15/25)(a)   EUR 100    90,636 
WP/AP Telecom Holdings IV BV, 3.75%, 01/15/29 (Call 01/15/25)(a)   EUR 100    96,674 
Ziggo Bond Co. BV, 3.38%, 02/28/30 (Call 02/15/25)(a)   EUR 150    125,834 
Ziggo BV, 2.88%, 01/15/30 (Call 10/15/24)(a)   EUR 100    88,869 
         2,040,763 
Portugal — 1.9%          
Banco Comercial Portugues SA          
1.75%, 04/07/28 (Call 04/07/27)(a)(g)   EUR 100    88,927 
4.00%, 05/17/32 (Call 11/17/26)(a)(g)   EUR 100    80,915 
8.50%, 10/25/25 (Call 10/25/24)(g)   EUR 100    112,838 
Caixa Geral de Depositos SA, 1.25%, 11/25/24(a)   EUR 100    103,755 
EDP - Energias de Portugal SA          
1.70%, 07/20/80 (Call 04/20/25)(a)(g)   EUR 100    98,515 
1.88%, 08/02/81 (Call 05/02/26)(a)(g)   EUR 100    94,864 
5.94%, 04/23/83 (Call 01/23/28)(a)(g)   EUR 200    216,937 
Energias De Portugal SA, 1.88%, 03/14/82 (Call 06/14/29)(a)(g)   EUR 100    83,746 
         880,497 
Spain — 7.9%          
Banco de Credito Social Cooperativo SA          
1.75%, 03/09/28 (Call 03/09/27)(a)(g)   EUR 100    87,741 
8.00%, 09/22/26 (Call 09/22/25)(a)(g)   EUR 100    111,645 
Banco de Sabadell SA          
0.88%, 06/16/28 (Call 06/16/27)(a)(g)   EUR 100    91,153 
1.13%, 03/27/25(a)   EUR 100    101,050 
1.75%, 05/10/24(a)   EUR 100    105,484 
2.00%, 01/17/30 (Call 01/17/25)(a)(g)   EUR 100    98,357 

3

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2023 (Percentages shown are based on Net Assets)

 

Security   Par
(000)		   Value 
           
Spain (continued)          
2.63%, 03/24/26 (Call 03/24/25)(a)(g)   EUR 100   $103,850 
5.38%, 09/08/26 (Call 09/08/25)(a)(g)   EUR 100    110,047 
Cellnex Finance Co. SA          
0.75%, 11/15/26 (Call 08/15/26)(a)   EUR 200    190,460 
1.00%, 09/15/27 (Call 06/15/27)(a)   EUR 100    92,908 
1.50%, 06/08/28 (Call 03/08/28)(a)   EUR 100    93,323 
2.00%, 09/15/32 (Call 06/15/32)(a)   EUR 200    170,734 
2.00%, 02/15/33 (Call 11/15/32)(a)   EUR 200    169,001 
2.25%, 04/12/26 (Call 01/12/26)(a)   EUR 100    102,018 
Cellnex Telecom SA          
1.00%, 04/20/27 (Call 01/20/27)(a)   EUR 100    94,925 
1.75%, 10/23/30 (Call 07/23/30)(a)   EUR 100    87,902 
1.88%, 06/26/29 (Call 03/26/29)(a)   EUR 100    91,894 
2.38%, 01/16/24 (Call 10/16/23)(a)   EUR 100    107,342 
Cirsa Finance International Sarl          
4.50%, 03/15/27 (Call 09/15/23)(a)   EUR 100    95,509 
10.38%, 11/30/27 (Call 11/09/24)(a)   EUR 100    113,983 
ContourGlobal Power Holdings SA, 4.13%, 08/01/25 (Call 03/02/23)(a)   EUR 200    218,700 
Grifols Escrow Issuer SA, 3.88%, 10/15/28 (Call 10/15/24)(a)   EUR 250    229,713 
Grifols SA          
1.63%, 02/15/25 (Call 03/02/23)(a)   EUR 150    153,004 
3.20%, 05/01/25 (Call 03/02/23)(a)   EUR 100    101,680 
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25)(a)(g)   EUR 100    98,444 
Kaixo Bondco Telecom SA, 5.13%, 09/30/29 (Call 09/30/24)(a)   EUR 100    93,605 
Lorca Telecom Bondco SA, 4.00%, 09/18/27 (Call 09/30/23)(a)   EUR 300    298,404 
Unicaja Banco SA          
2.88%, 11/13/29 (Call 11/13/24)(a)(g)   EUR 100    100,773 
7.25%, 11/15/27 (Call 11/15/26)(a)(g)   EUR 100    110,762 
         3,624,411 
Sweden — 3.3%          
Fastighets AB Balder, 2.87%, 06/02/81 (Call 03/02/26)(a)(g)   EUR 100    82,782 
Intrum AB          
3.00%, 09/15/27 (Call 03/02/23)(a)   EUR 200    181,098 
3.13%, 07/15/24 (Call 03/02/23)(a)   EUR   52    55,084 
3.50%, 07/15/26 (Call 02/10/23)(a)   EUR 175    166,704 
4.88%, 08/15/25 (Call 03/02/23)(a)   EUR 100    102,014 
Stena International SA, 3.75%, 02/01/25 (Call 03/02/23)(a)   EUR 100    103,712 
Verisure Holding AB          
3.25%, 02/15/27 (Call 03/02/23)(a)   EUR 150    143,921 
7.13%, 02/01/28   EUR 100    108,886 
9.25%, 10/15/27 (Call 10/15/24)(a)   EUR 100    116,348 
Verisure Midholding AB, 5.25%, 02/15/29 (Call 02/15/24)(a)   EUR 150    134,544 
Volvo Car AB          
2.13%, 04/02/24 (Call 01/02/24)(a)   EUR 100    105,968 
2.50%, 10/07/27 (Call 07/07/27)(a)   EUR 100    98,499 
4.25%, 05/31/28 (Call 02/28/28)(a)   EUR 100    102,416 
         1,501,976 
Switzerland — 1.1%          
Dufry One BV          
2.00%, 02/15/27 (Call 03/02/23)(a)   EUR 100    92,791 
2.50%, 10/15/24 (Call 03/02/23)(a)   EUR 100    106,178 
3.38%, 04/15/28 (Call 04/15/24)(a)   EUR 100    93,988 
SIG Combibloc Purchase Co. Sarl, 2.13%, 06/18/25 (Call 03/18/25)(a)   EUR 100    104,601 
Wizz Air Finance Co. BV, 1.00%, 01/19/26 (Call 11/19/25)(a)   EUR 100    93,303 
         490,861 
Security   Par
(000)		   Value 
           
United Kingdom — 11.9%          
BCP V Modular Services Finance II PLC          
4.75%, 11/30/28 (Call 11/30/24)(a)   EUR 200   $189,594 
6.13%, 11/30/28 (Call 11/30/24)(a)   GBP 100    106,245 
Bellis Acquisition Co. PLC          
3.25%, 02/16/26 (Call 03/02/23)(a)   GBP 300    304,550 
4.50%, 02/16/26 (Call 02/24/24)(a)   GBP 100    104,125 
Bellis Finco PLC, 4.00%, 02/16/27 (Call 03/02/23)(a)   GBP 100    89,100 
British Telecommunications PLC, 1.87%, 08/18/80 (Call 05/18/25)(a)(g)   EUR 100    98,337 
Canary Wharf Group Investment Holdings PLC          
2.63%, 04/23/25   GBP 100    104,600 
3.38%, 04/23/28 (Call 01/23/28)(a)   GBP 100    90,590 
Castle U.K. Finco PLC, 7.00%, 05/15/29 (Call 05/15/25)(a)   GBP 100    90,291 
Centrica PLC, 5.25%, 04/10/75 (Call 04/10/25)(a)(g)   GBP 100    116,055 
Deuce Finco PLC, 5.50%, 06/15/27 (Call 06/15/23)(a)   GBP 100    104,185 
eG Global Finance PLC, 4.38%, 02/07/25 (Call 03/02/23)(a)   EUR 200    193,074 
Heathrow Finance PLC, 3.88%, 03/01/27(a)(h)   GBP 100    108,575 
Iceland Bondco PLC, 4.63%, 03/15/25 (Call 02/10/23)   GBP 100    106,664 
INEOS Quattro Finance 2 PLC, 2.50%, 01/15/26 (Call 01/15/24)(a)   EUR 100    96,872 
INEOS Styrolution Group GmbH, 2.25%, 01/16/27 (Call 03/02/23)(a)   EUR 100    93,685 
International Consolidated Airlines Group SA          
2.75%, 03/25/25 (Call 12/25/24)(a)   EUR 100    101,601 
3.75%, 03/25/29 (Call 12/25/28)(a)   EUR 200    182,697 
Jaguar Land Rover Automotive PLC          
2.20%, 01/15/24(a)   EUR 100    105,152 
4.50%, 01/15/26 (Call 10/15/25)(a)   EUR 150    150,080 
4.50%, 07/15/28 (Call 07/15/24)(a)   EUR 100    87,899 
Jerrold Finco PLC, 4.88%, 01/15/26 (Call 03/02/23)(a)   GBP 100    107,957 
Market Bidco Finco PLC, 5.50%, 11/04/27 (Call 11/04/24)(a)   GBP 100    95,515 
Marks & Spencer PLC, 6.00%, 06/12/25(a)   GBP 100    122,616 
NGG Finance PLC          
1.63%, 12/05/79 (Call 09/05/24)(a)(g)   EUR 100    102,274 
2.13%, 09/05/82 (Call 06/05/27)(g)   EUR 100    92,886 
5.63%, 06/18/73 (Call 06/18/25)(a)(g)   GBP 100    119,795 
Pinewood Finance Co. Ltd., 3.63%, 11/15/27 (Call 11/15/23)(a)   GBP 175    192,803 
Pinnacle Bidco PLC, 5.50%, 02/15/25 (Call 03/02/23)(a)   EUR 100    99,436 
Rolls-Royce PLC          
0.88%, 05/09/24 (Call 02/09/24)(a)   EUR 100    103,008 
4.63%, 02/16/26 (Call 11/16/25)(a)   EUR 100    106,205 
5.75%, 10/15/27 (Call 07/15/27)(a)   GBP 100    117,403 
Sherwood Financing PLC, 4.50%, 11/15/26 (Call 11/15/23)(a)   EUR 100    91,928 
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 07/31/25          
(Call 03/02/23)(a)   GBP 200    228,559 
Thames Water Utilities Finance PLC, 2.88%, 05/03/27(a)   GBP 100    107,989 
Virgin Media Finance PLC, 3.75%, 07/15/30 (Call 07/15/25)(a)   EUR 100    86,943 
Virgin Media Secured Finance PLC          
4.13%, 08/15/30 (Call 08/15/25)(a)   GBP 100    98,197 
4.25%, 01/15/30 (Call 10/15/24)(a)   GBP 100    99,483 
5.00%, 04/15/27 (Call 02/10/23)(a)   GBP 200    226,230 
Vmed O2 UK Financing I PLC          
3.25%, 01/31/31 (Call 01/31/26)(a)   EUR 100    88,345 
4.00%, 01/31/29 (Call 01/31/24)(a)   GBP 100    101,615 
4.50%, 07/15/31 (Call 07/15/26)(a)   GBP 100    98,287 
Vodafone Group PLC          
2.63%, 08/27/80 (Call 05/27/26)(a)(g)   EUR 200    196,517 
3.00%, 08/27/80 (Call 05/27/30)(a)(g)   EUR 150    133,721 
         5,441,683 

4 

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2023 (Percentages shown are based on Net Assets)

 

           
Security   Par
(000)		   Value 
           
United States — 13.2%          
Adient Global Holdings Ltd., 3.50%, 08/15/24 (Call 05/15/24)(a)   EUR 111   $117,390 
Allied Universal Holdco LLC/Allied Universal Finance          
Corp/Atlas Luxco 4 Sarl, 3.63%, 06/01/28 (Call 06/01/24)(a)   EUR 100    90,285 
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal          
Packaging Finance PLC          
2.00%, 09/01/28 (Call 05/15/24)(a)   EUR 100    90,264 
3.00%, 09/01/29 (Call 05/15/24)(a)   EUR 100    84,464 
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.          
2.13%, 08/15/26 (Call 03/02/23)(a)   EUR 200    187,108 
4.75%, 07/15/27 (Call 02/10/23)(a)   GBP 100    95,994 
Ashland Services BV, 2.00%, 01/30/28 (Call 11/01/27)(a)   EUR 100    95,026 
Avantor Funding Inc., 2.63%, 11/01/25 (Call 02/10/23)(a)   EUR 100    104,171 
Avis Budget Finance PLC, 4.13%, 11/15/24 (Call 03/02/23)(a)   EUR 100    105,438 
Axalta Coating Systems Dutch Holding B BV, 3.75%, 01/15/25 (Call 02/10/23)(a)   EUR 100    105,746 
Ball Corp.          
0.88%, 03/15/24 (Call 12/15/23)   EUR 100    104,582 
1.50%, 03/15/27 (Call 12/15/26)   EUR 100    96,204 
Belden Inc., 3.88%, 03/15/28 (Call 03/15/23)(a)   EUR 150    149,730 
Boxer Parent Co. Inc., 6.50%, 10/02/25 (Call 03/02/23)(a)   EUR 100    107,307 
Brookfield Property Finance ULC          
3.93%, 08/24/25 (Call 07/24/25)   CAD 100    71,140 
4.00%, 09/30/26 (Call 08/30/26)   CAD   75    52,026 
Carnival PLC, 1.00%, 10/28/29 (Call 07/28/29)   EUR 100    54,800 
Catalent Pharma Solutions Inc., 2.38%, 03/01/28 (Call 03/01/23)(a)   EUR 150    135,014 
Chemours Co. (The), 4.00%, 05/15/26 (Call 03/02/23)   EUR 100    98,871 
Clarios Global LP/Clarios US Finance Co., 4.38%, 05/15/26 (Call 03/02/23)(a)   EUR 100    103,593 
Constellium SE, 3.13%, 07/15/29 (Call 07/15/24)(a)   EUR 100    89,645 
Coty Inc., 3.88%, 04/15/26 (Call 04/15/23)(a)   EUR 100    102,032 
Crown European Holdings SA          
2.63%, 09/30/24 (Call 03/31/24)(a)   EUR 100    105,937 
2.88%, 02/01/26 (Call 08/01/25)(a)   EUR 100    103,785 
Darling Global Finance BV, 3.63%, 05/15/26 (Call 02/10/23)(a)   EUR 100    104,493 
Encore Capital Group Inc., 5.38%, 02/15/26 (Call 03/02/23)(a)   GBP 100    111,661 
Energizer Gamma Acquisition BV, 3.50%, 06/30/29 (Call 06/16/24)(a)   EUR 100    88,553 
Ford Credit Canada Co, 2.96%, 09/16/26 (Call 08/16/26)   CAD 100    66,786 
Ford Credit Canada Co.          
4.46%, 11/13/24   CAD   75    54,687 
7.00%, 02/10/26   CAD   75    57,071 
Ford Motor Credit Co. LLC          
1.36%, 02/07/25   EUR 100    102,167 
1.74%, 07/19/24   EUR 100    104,350 
2.39%, 02/17/26   EUR 125    127,541 
2.75%, 06/14/24   GBP 100    117,242 
3.02%, 03/06/24   EUR 100    106,845 
3.25%, 09/15/25   EUR 200    209,268 
Hanesbrands Finance Luxembourg SCA, 3.50%, 06/15/24 (Call 03/15/24)(a)   EUR 100    106,898 
International Game Technology PLC, 3.50%, 06/15/26 (Call 03/02/23)   EUR 150    153,890 
IQVIA Inc.          
1.75%, 03/15/26 (Call 03/15/23)(a)   EUR 100    100,809 
2.25%, 01/15/28 (Call 03/02/23)(a)   EUR 150    141,791 
2.25%, 03/15/29 (Call 03/15/24)(a)   EUR 200    182,298 
Iron Mountain UK PLC, 3.88%, 11/15/25 (Call 02/10/23)(a)   GBP 100    114,605 
Levi Strauss & Co., 3.38%, 03/15/27 (Call 02/10/23)   EUR 100    102,577 

 

   Par/     
   Shares     
Security  (000)   Value 
          
United States (continued)         
Liberty Mutual Group Inc., 3.63%, 05/23/59 (Call 05/23/24)(a)(g)  EUR 100   $100,924 
Mauser Packaging Solutions Holding Co., 4.75%, 04/15/24 (Call 02/24/23)(a)  EUR 100    108,272 
MPT Operating Partnership LP/MPT Finance Corp.         
2.50%, 03/24/26 (Call 02/24/26)  GBP 100    96,594 
3.33%, 03/24/25 (Call 12/24/24)  EUR 100    94,916 
3.38%, 04/24/30 (Call 01/24/30)  GBP 100    80,795 
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29 (Call 04/15/24)(a)  EUR 100    94,369 
OI European Group BV, 3.13%, 11/15/24 (Call 08/15/24)(a)  EUR 100    105,585 
Olympus Water U.S. Holding Corp., 3.88%, 10/01/28 (Call 10/01/24)(a)  EUR 100    93,004 
Organon & Co./Organon Foreign Debt Co.-Issuer BV, 2.88%, 04/30/28 (Call 04/30/24)(a)  EUR 200    189,484 
Primo Water Holdings Inc., 3.88%, 10/31/28 (Call 10/31/23)(a)  EUR 100    95,142 
Silgan Holdings Inc., 3.25%, 03/15/25 (Call 03/02/23)  EUR 100    106,088 
Spectrum Brands Inc., 4.00%, 10/01/26 (Call 03/02/23)(a)  EUR 100    101,799 
Standard Industries Inc./NJ, 2.25%, 11/21/26 (Call 08/21/26)(a)  EUR 100    94,129 
WMG Acquisition Corp., 2.25%, 08/15/31 (Call 08/15/26)(a)  EUR 100    85,131 
        6,050,316 
          
Total Corporate Bonds & Notes — 98.4%         
(Cost: $50,473,557)       45,128,069 
         
Common Stocks        
         
Jersey — 0.0%        
Sentry Holdings Ltd. Class A  0(i)   — 
          
Total Common Stocks — 0.0%         
(Cost: $159,437)       — 
          
Total Long-Term Investments — 98.4%         
(Cost: $50,632,994)       45,128,069 
          
Short-Term Securities         
          
Money Market Funds — 0.0%         
BlackRock Cash Funds: Treasury, SL Agency Shares, 4.18%(j)(k)  10    10,000 
          
Total Short-Term Securities — 0.0%         
(Cost: $10,000)       10,000 
          
Total Investments — 98.4%         
(Cost: $50,642,994)       45,138,069 
          
Other Assets Less Liabilities — 1.6%       737,110 
Net Assets — 100.0%      $45,875,179 

 

(a)This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(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)Issuer filed for bankruptcy and/or is in default.
(d)Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(e)Non-income producing security.
(f)Zero-coupon bond.
(g)Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

5

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2023  

 

(h)Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

(i)Rounds to less than 1,000.

(j)Affiliate of the Fund.

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

 

Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer  Value at
10/31/22		  Purchases
at Cost		   Proceeds
from Sale		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
01/31/23		   Shares
Held at
01/31/23
(000)		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Treasury, SL Agency Shares  $10,000   $0(a)  $—   $—   $—   $10,000   10   $117   $— 

 

(a)Represents net amount purchased (sold).

 

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 
Assets                    
Investments                    
Long-Term Investments                    
Corporate Bonds & Notes  $—   $45,128,069   $—   $45,128,069 
Common Stocks   —    —    —    — 
Short-Term Securities                    
Money Market Funds   10,000    —    —    10,000 
   $10,000   $45,128,069   $—   $45,138,069 

 

Portfolio Abbreviation
 
CAB Capital Appreciation Bonds

 

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Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2023  

 

Currency Abbreviations

 

CAD Canadian Dollar

EUR Euro

GBP British Pound

  

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