NPORT-EX 2 NPORT_0BIM_75254552_0523.htm

 

Schedule of Investments (unaudited) iShares® MSCI BIC ETF
May 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Brazil — 7.5%          
Ambev SA   103,258   $293,290 
Atacadao SA   12,900    24,080 
B3 SA - Brasil, Bolsa, Balcao   128,226    336,659 
Banco Bradesco SA   30,143    78,844 
Banco BTG Pactual SA   27,135    140,668 
Banco do Brasil SA   18,791    165,268 
Banco Santander Brasil SA   5,934    33,452 
BB Seguridade Participacoes SA   15,996    97,522 
CCR SA   22,704    60,728 
Centrais Eletricas Brasileiras SA   28,423    197,767 
Cia. de Saneamento Basico do Estado de Sao Paulo   7,525    77,945 
Cia. Siderurgica Nacional SA   14,577    34,910 
Cosan SA   29,025    85,817 
CPFL Energia SA   5,289    31,567 
Energisa SA   3,914    33,976 
Eneva SA(a)   19,608    44,254 
Engie Brasil Energia SA   5,783    47,910 
Equatorial Energia SA   23,435    130,033 
Equatorial Energia SA   350    1,942 
Hapvida Participacoes e Investimentos SA(a)(b)   114,638    90,159 
Hypera SA   9,632    77,499 
JBS SA   13,330    44,142 
Klabin SA   14,792    61,170 
Localiza Rent a Car SA   17,114    209,282 
Localiza Rent a Car SA(a)   83    1,006 
Lojas Renner SA   20,984    80,448 
Magazine Luiza SA(a)   68,628    51,404 
Natura & Co. Holding SA   19,135    52,389 
Petro Rio SA(a)   18,146    122,290 
Petroleo Brasileiro SA   81,872    471,386 
Raia Drogasil SA   28,248    157,738 
Rede D’Or Sao Luiz SA(b)   13,060    74,654 
Rumo SA   30,401    124,761 
Sendas Distribuidora SA   24,295    51,480 
Suzano SA   17,372    153,336 
Telefonica Brasil SA   8,084    63,738 
Tim SA   18,675    51,387 
TOTVS SA   12,771    72,397 
Ultrapar Participacoes SA   15,824    52,806 
Vale SA   74,003    930,781 
Vibra Energia SA   25,499    80,870 
WEG SA   38,399    284,664 
         5,276,419 
Cayman Islands — 0.2%          
JD Logistics Inc.(a)(b)   38,700    61,877 
Zai Lab Ltd.(a)   22,050    71,996 
         133,873 
China — 60.0%          
360 Security Technology Inc., Class A   9,731    19,039 
37 Interactive Entertainment Network Technology Group  Co. Ltd., Class A   4,300    19,757 
3SBio Inc.(b)   43,000    43,557 
AAC Technologies Holdings Inc.   22,500    46,131 
Advanced Micro-Fabrication Equipment Inc., Class A(a)   1,467    35,749 
AECC Aviation Power Co. Ltd., Class A   4,300    24,004 
Agricultural Bank of China Ltd., Class A   103,200    51,043 
Agricultural Bank of China Ltd., Class H   645,000    243,064 
Aier Eye Hospital Group Co. Ltd., Class A   13,009    49,078 
Security  Shares   Value 
         
China (continued)          
Air China Ltd., Class A(a)   30,100   $36,873 
Akeso Inc.(a)(b)   12,000    53,484 
Alibaba Group Holding Ltd.(a)   365,520    3,637,791 
Alibaba Health Information Technology Ltd.(a)   120,000    71,227 
Aluminum Corp. of China Ltd., Class A   21,500    16,342 
Aluminum Corp. of China Ltd., Class H   86,000    38,058 
Anhui Conch Cement Co. Ltd., Class A   4,300    15,140 
Anhui Conch Cement Co. Ltd., Class H   21,500    57,072 
Anhui Gujing Distillery Co. Ltd., Class B   4,300    70,458 
ANTA Sports Products Ltd.   27,040    276,368 
Autohome Inc., ADR   1,677    47,996 
AVIC Industry-Finance Holdings Co. Ltd., Class A   17,299    9,383 
AviChina Industry & Technology Co. Ltd., Class H   72,000    34,836 
Baidu Inc., Class A(a)   49,456    759,354 
Bank of Beijing Co. Ltd., Class A   30,190    20,056 
Bank of Chengdu Co. Ltd., Class A   8,600    15,182 
Bank of China Ltd., Class A   48,400    26,516 
Bank of China Ltd., Class H   1,720,000    673,307 
Bank of Communications Co. Ltd., Class A   60,200    49,486 
Bank of Communications Co. Ltd., Class H   172,200    111,026 
Bank of Hangzhou Co. Ltd., Class A   8,699    14,197 
Bank of Jiangsu Co. Ltd., Class A   25,860    26,965 
Bank of Nanjing Co. Ltd., Class A   21,500    25,499 
Bank of Ningbo Co. Ltd., Class A   9,510    32,896 
Bank of Shanghai Co. Ltd., Class A   30,190    26,168 
Baoshan Iron & Steel Co. Ltd., Class A   38,700    31,964 
BBMG Corp., Class A   17,200    5,270 
BeiGene Ltd.(a)   14,686    249,628 
Beijing Dabeinong Technology Group Co. Ltd., Class A   12,900    11,646 
Beijing Enlight Media Co. Ltd., Class A   8,600    10,651 
Beijing Enterprises Holdings Ltd.   8,500    32,837 
Beijing Enterprises Water Group Ltd.   86,000    21,093 
Beijing Kingsoft Office Software Inc., Class A   378    22,937 
Beijing New Building Materials PLC, Class A   4,300    13,726 
Bilibili Inc., Class Z(a)   4,445    69,948 
BOC Aviation Ltd.(b)   4,300    31,573 
BOE Technology Group Co. Ltd., Class A   64,500    36,002 
Bosideng International Holdings Ltd.   86,000    35,706 
BYD Co. Ltd., Class A   2,700    96,499 
BYD Co. Ltd., Class H   21,500    649,246 
BYD Electronic International Co. Ltd.   22,500    65,495 
Caitong Securities Co. Ltd., Class A   16,320    17,143 
CGN Power Co. Ltd., Class H(b)   215,000    51,672 
Changchun High & New Technology Industry Group Inc., Class A   810    18,150 
Changjiang Securities Co. Ltd., Class A   21,500    18,154 
Chaozhou Three-Circle Group Co. Ltd., Class A   4,300    18,212 
China Baoan Group Co. Ltd., Class A   8,600    14,616 
China Cinda Asset Management Co. Ltd., Class H   129,000    14,328 
China CITIC Bank Corp. Ltd., Class H   172,000    90,539 
China Coal Energy Co. Ltd., Class H   43,000    32,512 
China Communications Services Corp. Ltd., Class H   86,800    41,280 
China Conch Venture Holdings Ltd.   21,500    27,008 
China Construction Bank Corp., Class A   8,600    7,735 
China Construction Bank Corp., Class H   2,107,370    1,348,044 
China CSSC Holdings Ltd., Class A   8,600    34,799 
China Eastern Airlines Corp. Ltd., Class A(a)   34,321    22,524 
China Energy Engineering Corp. Ltd., Class A   51,600    17,397 
China Everbright Bank Co. Ltd., Class A   68,800    30,448 
China Everbright Environment Group Ltd.   86,000    33,616 

1

 

Schedule of Investments (unaudited) (continued) iShares® MSCI BIC ETF
May 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
China (continued)          
China Evergrande Group(a)(c)(d)   114,000   $9,920 
China Feihe Ltd.(b)   88,000    51,181 
China Galaxy Securities Co. Ltd., Class H   64,500    34,765 
China Gas Holdings Ltd.   61,400    69,634 
China Greatwall Technology Group Co. Ltd., Class A   8,600    14,549 
China Hongqiao Group Ltd.   64,500    45,775 
China International Capital Corp. Ltd., Class H(b)   34,400    62,927 
China Jinmao Holdings Group Ltd.   144,000    20,610 
China Jushi Co. Ltd., Class A   8,673    16,608 
China Lesso Group Holdings Ltd.   27,000    17,853 
China Life Insurance Co. Ltd., Class A   4,393    23,051 
China Life Insurance Co. Ltd., Class H   172,000    290,515 
China Literature Ltd.(a)(b)   8,600    32,534 
China Longyuan Power Group Corp. Ltd., Class H   86,000    96,535 
China Medical System Holdings Ltd.   43,000    60,539 
China Mengniu Dairy Co. Ltd.   68,000    264,292 
China Merchants Bank Co. Ltd., Class A   28,200    128,008 
China Merchants Bank Co. Ltd., Class H   86,456    402,033 
China Merchants Port Holdings Co. Ltd.   48,000    69,629 
China Merchants Securities Co. Ltd., Class A   17,250    33,705 
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A   9,781    17,451 
China Minsheng Banking Corp. Ltd., Class A   43,000    23,920 
China Minsheng Banking Corp. Ltd., Class H   129,000    51,050 
China National Building Material Co. Ltd., Class H   86,000    48,672 
China National Chemical Engineering Co. Ltd., Class A   17,200    20,663 
China National Nuclear Power Co. Ltd., Class A   34,400    34,019 
China Northern Rare Earth Group High-Tech Co. Ltd., Class A   4,300    14,416 
China Oilfield Services Ltd., Class H   44,000    44,799 
China Overseas Land & Investment Ltd.   86,300    175,132 
China Pacific Insurance Group Co. Ltd., Class A   12,900    50,494 
China Pacific Insurance Group Co. Ltd., Class H   51,600    130,609 
China Petroleum & Chemical Corp., Class A   55,900    49,936 
China Petroleum & Chemical Corp., Class H   516,600    325,309 
China Power International Development Ltd.   129,000    49,132 
China Railway Group Ltd., Class A   30,100    33,414 
China Railway Group Ltd., Class H   86,000    56,668 
China Resources Beer Holdings Co. Ltd.   38,000    239,877 
China Resources Cement Holdings Ltd.   88,000    32,048 
China Resources Gas Group Ltd.   17,200    56,628 
China Resources Land Ltd.   70,444    263,669 
China Resources Mixc Lifestyle Services Ltd.(b)   17,200    78,309 
China Resources Pharmaceutical Group Ltd.(b)   43,000    41,282 
China Resources Power Holdings Co. Ltd.   48,200    111,286 
China Ruyi Holdings Ltd.(a)(d)   172,000    38,443 
China Shenhua Energy Co. Ltd., Class A   12,900    51,167 
China Shenhua Energy Co. Ltd., Class H   64,500    203,905 
China Southern Airlines Co. Ltd., Class A(a)   21,500    18,945 
China Southern Airlines Co. Ltd., Class H(a)(d)   46,000    26,492 
China State Construction Engineering Corp. Ltd., Class A   51,600    42,777 
China State Construction International Holdings Ltd.   40,000    45,208 
China Taiping Insurance Holdings Co. Ltd.   34,440    35,847 
China Three Gorges Renewables Group Co. Ltd., Class A   51,600    39,351 
China Tourism Group Duty Free Corp. Ltd., Class A   4,000    69,219 
China Tower Corp. Ltd., Class H(b)   860,000    94,455 
China Traditional Chinese Medicine Holdings Co. Ltd.   86,000    41,360 
China United Network Communications Ltd., Class A   52,700    36,430 
China Vanke Co. Ltd., Class A   12,938    25,931 
China Vanke Co. Ltd., Class H   43,001    56,802 
Security  Shares   Value 
         
China (continued)          
China Yangtze Power Co. Ltd., Class A   34,456   $108,942 
China Zheshang Bank Co. Ltd., Class A   25,800    10,404 
Chinasoft International Ltd.   86,000    51,308 
Chongqing Changan Automobile Co. Ltd., Class A   12,952    21,786 
Chongqing Zhifei Biological Products Co. Ltd., Class A   4,300    42,428 
Chow Tai Fook Jewellery Group Ltd.   43,000    76,112 
CITIC Ltd.   129,000    148,935 
CITIC Securities Co. Ltd., Class A   17,375    48,938 
CITIC Securities Co. Ltd., Class H   43,050    79,269 
CMOC Group Ltd., Class A   12,900    9,506 
CMOC Group Ltd., Class H   108,000    56,476 
Contemporary Amperex Technology Co. Ltd., Class A   6,040    187,842 
COSCO SHIPPING Energy Transportation Co. Ltd., Class A(a)   21,500    33,803 
COSCO SHIPPING Holdings Co. Ltd., Class A   17,370    25,478 
COSCO SHIPPING Holdings Co. Ltd., Class H   64,849    57,143 
Country Garden Holdings Co. Ltd.(d)   221,046    40,733 
Country Garden Services Holdings Co. Ltd.   43,000    50,127 
CRRC Corp. Ltd., Class A   37,000    36,593 
CRRC Corp. Ltd., Class H   114,000    70,593 
CSC Financial Co. Ltd., Class A   8,600    30,664 
CSPC Pharmaceutical Group Ltd.   172,160    149,992 
Dali Foods Group Co. Ltd.(b)   64,500    21,514 
Daqin Railway Co. Ltd., Class A   30,100    32,301 
Daqo New Energy Corp., ADR(a)   1,587    57,053 
DHC Software Co. Ltd., Class A   21,500    22,260 
Dongfang Electric Corp. Ltd., Class A   8,600    21,743 
Dongfeng Motor Group Co. Ltd., Class H   86,000    37,243 
Dongxing Securities Co. Ltd., Class A   17,299    19,907 
Dongyue Group Ltd.   43,000    37,605 
East Money Information Co. Ltd., Class A   21,588    42,586 
ENN Energy Holdings Ltd.   17,900    208,458 
ENN Natural Gas Co. Ltd., Class A   8,600    23,387 
Eve Energy Co. Ltd., Class A   4,300    38,706 
Everbright Securities Co. Ltd., Class A   8,697    19,353 
Fangda Carbon New Material Co. Ltd., Class A(a)   21,540    19,123 
Far East Horizon Ltd.   4,000    3,352 
First Capital Securities Co. Ltd., Class A   21,500    17,732 
Flat Glass Group Co. Ltd., Class A   4,300    19,504 
Focus Media Information Technology Co. Ltd., Class A   30,139    27,215 
Foshan Haitian Flavouring & Food Co. Ltd., Class A   4,951    42,103 
Fosun International Ltd.   43,000    28,360 
Foxconn Industrial Internet Co. Ltd., Class A   17,200    43,628 
Fujian Sunner Development Co. Ltd., Class A   4,300    11,442 
Fuyao Glass Industry Group Co. Ltd., Class H(b)   18,000    65,553 
Ganfeng Lithium Co. Ltd., Class H(b)   8,600    54,436 
Ganfeng Lithium Group Co. Ltd., Class A   4,300    37,537 
GCL-Poly Energy Holdings Ltd.(a)   473,000    102,717 
GD Power Development Co. Ltd., Class A(a)   38,700    22,177 
GDS Holdings Ltd., Class A(a)   22,932    28,039 
Geely Automobile Holdings Ltd.   129,000    150,284 
GEM Co. Ltd., Class A   25,899    24,296 
Gemdale Corp., Class A   8,600    8,766 
Genscript Biotech Corp.(a)   26,000    57,649 
GF Securities Co. Ltd., Class A   8,600    18,021 
GF Securities Co. Ltd., Class H   17,200    23,918 
GoerTek Inc., Class A   4,300    11,101 
Great Wall Motor Co. Ltd., Class A   4,300    13,649 
Great Wall Motor Co. Ltd., Class H   43,000    44,196 
Gree Electric Appliances Inc. of Zhuhai, Class A   4,300    19,947 

2

 

Schedule of Investments (unaudited) (continued) iShares® MSCI BIC ETF
May 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
China (continued)          
Greentown China Holdings Ltd.   21,500   $20,203 
Greentown Service Group Co. Ltd.   56,000    30,290 
Guangdong Haid Group Co. Ltd., Class A   4,300    27,921 
Guangdong Investment Ltd.   86,000    73,288 
Guanghui Energy Co. Ltd., Class A   17,200    17,533 
Guangzhou Automobile Group Co. Ltd., Class H   86,235    49,483 
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A   4,300    21,702 
Guangzhou Tinci Materials Technology Co. Ltd., Class A   4,300    24,727 
Guosen Securities Co. Ltd., Class A   17,200    22,257 
Guotai Junan Securities Co. Ltd., Class A   17,200    35,753 
Guoyuan Securities Co. Ltd., Class A   12,920    12,168 
H World Group Ltd., ADR(a)   4,515    165,339 
Haidilao International Holding Ltd.(a)(b)   22,000    46,339 
Haier Smart Home Co. Ltd., Class A   8,679    26,194 
Haier Smart Home Co. Ltd., Class H   51,600    147,587 
Haitian International Holdings Ltd.   16,000    36,358 
Haitong Securities Co. Ltd., Class A   12,900    17,051 
Haitong Securities Co. Ltd., Class H   34,400    22,848 
Hangzhou Tigermed Consulting Co. Ltd., Class A   100    1,137 
Hangzhou Tigermed Consulting Co. Ltd., Class H(b)   4,300    32,171 
Hansoh Pharmaceutical Group Co. Ltd.(b)   24,000    39,722 
Henan Shuanghui Investment & Development Co. Ltd., Class A   8,600    29,715 
Hengan International Group Co. Ltd.   14,000    59,521 
Hengli Petrochemical Co. Ltd., Class A   8,600    19,073 
Hengyi Petrochemical Co. Ltd., Class A   17,230    16,232 
Hesteel Co. Ltd., Class A   30,100    9,692 
Huadian Power International Corp. Ltd., Class A   12,900    12,920 
Huadong Medicine Co. Ltd., Class A   4,300    23,536 
Hualan Biological Engineering Inc., Class A   8,650    27,348 
Huaneng Power International Inc., Class A(a)   12,900    18,457 
Huaneng Power International Inc., Class H(a)   86,000    55,275 
Huatai Securities Co. Ltd., Class A   17,200    32,692 
Huatai Securities Co. Ltd., Class H(b)   17,200    21,517 
Huaxia Bank Co. Ltd., Class A   21,500    17,454 
Huaxin Cement Co. Ltd., Class A   4,300    7,683 
Huayu Automotive Systems Co. Ltd., Class A   8,699    21,343 
Hunan Valin Steel Co. Ltd., Class A   12,900    8,813 
Hundsun Technologies Inc., Class A   5,800    34,599 
Hygeia Healthcare Holdings Co. Ltd.(a)(b)(d)   8,600    50,460 
Iflytek Co. Ltd., Class A   4,329    36,344 
Industrial & Commercial Bank of China Ltd., Class A   77,400    52,517 
Industrial & Commercial Bank of China Ltd., Class H   1,247,050    665,975 
Industrial Bank Co. Ltd., Class A   25,800    60,024 
Industrial Securities Co. Ltd., Class A   17,200    14,789 
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A   81,700    21,014 
Inner Mongolia Junzheng Energy & Chemical Industry  Group Co. Ltd., Class A   34,400    21,218 
Inner Mongolia Yili Industrial Group Co. Ltd., Class A   8,600    34,858 
Inner Mongolia Yitai Coal Co. Ltd., Class B.   30,100    38,832 
Innovent Biologics Inc.(a)(b)   21,500    100,868 
Inspur Electronic Information Industry Co. Ltd., Class A   4,583    28,670 
iQIYI Inc., ADR(a)   9,695    39,362 
JA Solar Technology Co. Ltd., Class A   8,700    44,066 
JD Health International Inc.(a)(b)   25,800    159,137 
JD.com Inc., Class A   51,620    840,972 
Jiangsu Eastern Shenghong Co. Ltd., Class A   8,600    14,069 
Jiangsu Expressway Co. Ltd., Class H   38,000    36,766 
Jiangsu Hengrui Medicine Co. Ltd., Class A   8,768    56,107 
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A   2,900    54,805 
Security  Shares   Value 
         
China (continued)          
Jiangsu Zhongtian Technology Co. Ltd., Class A   8,600   $17,544 
Jiangxi Copper Co. Ltd., Class H   43,000    64,688 
Jiumaojiu International Holdings Ltd.(b)   28,000    48,010 
JOYY Inc., ADR   1,161    28,793 
Kanzhun Ltd., ADR(a)   4,085    56,659 
KE Holdings Inc., ADR(a)   14,663    208,801 
Kingboard Holdings Ltd.   21,500    57,930 
Kingboard Laminates Holdings Ltd.   21,500    19,676 
Kingdee International Software Group Co. Ltd.(a)   43,000    57,164 
Kingsoft Corp. Ltd.   17,400    63,257 
Kuaishou Technology(a)(b)   51,600    350,147 
Kunlun Energy Co. Ltd.   86,000    68,597 
Kweichow Moutai Co. Ltd., Class A   1,700    389,603 
LB Group Co. Ltd., Class A   8,600    18,971 
Legend Biotech Corp., ADR(a)   1,290    82,779 
Lenovo Group Ltd.   172,000    161,690 
Lens Technology Co. Ltd., Class A   12,900    21,085 
Lepu Medical Technology Beijing Co. Ltd., Class A   4,300    14,905 
Li Auto Inc., Class A(a)   25,918    376,079 
Li Ning Co. Ltd.   57,000    306,262 
Lingyi iTech Guangdong Co., Class A(a)   30,100    26,605 
Longfor Group Holdings Ltd.(b)(d)   43,000    82,808 
LONGi Green Energy Technology Co. Ltd., Class A   13,048    52,814 
Lufax Holding Ltd., ADR.   14,190    18,163 
Luxshare Precision Industry Co. Ltd., Class A   9,102    34,923 
Luzhou Laojiao Co. Ltd., Class A   2,800    80,458 
Mango Excellent Media Co. Ltd., Class A   4,300    17,696 
Meinian Onehealth Healthcare Holdings Co. Ltd., Class A(a)   17,253    15,464 
Meituan, Class B(a)(b)   113,160    1,588,911 
Metallurgical Corp. of China Ltd., Class A   34,400    19,476 
Microport Scientific Corp.(a)   17,200    29,587 
MINISO Group Holding Ltd., ADR   2,365    35,948 
Minth Group Ltd.   16,000    40,008 
Muyuan Foods Co. Ltd., Class A   9,078    51,123 
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd., Class A   5,845    11,108 
NARI Technology Co. Ltd., Class A   12,924    49,788 
NavInfo Co. Ltd., Class A   8,608    14,195 
NetEase Inc.   43,075    732,656 
New China Life Insurance Co. Ltd., Class A   4,300    22,233 
New China Life Insurance Co. Ltd., Class H   12,900    33,366 
New Hope Liuhe Co. Ltd., Class A(a)   12,900    20,443 
New Oriental Education & Technology Group Inc.(a)   34,430    130,209 
Nine Dragons Paper Holdings Ltd.   43,000    23,848 
Ninestar Corp., Class A   4,300    23,632 
Ningbo Shanshan Co. Ltd., Class A   4,300    8,914 
Ningxia Baofeng Energy Group Co. Ltd., Class A   17,200    29,363 
NIO Inc., ADR(a)(d)   30,487    229,567 
Nongfu Spring Co. Ltd., Class H(b)   43,000    230,548 
Offshore Oil Engineering Co. Ltd., Class A   4,324    3,729 
Orient Overseas International Ltd.   4,000    48,732 
Orient Securities Co. Ltd., Class A   17,288    24,021 
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A(a)   21,500    12,028 
People’s Insurance Co. Group of China Ltd. (The), Class A   21,500    18,484 
People’s Insurance Co. Group of China Ltd. (The), Class H   129,000    48,776 
Perfect World Co. Ltd., Class A   4,350    11,227 
PetroChina Co. Ltd., Class A   25,800    27,177 

3

 

Schedule of Investments (unaudited) (continued) iShares® MSCI BIC ETF
May 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
China (continued)          
PetroChina Co. Ltd., Class H   430,000   $277,947 
Pharmaron Beijing Co. Ltd., Class H(b)   7,350    27,146 
PICC Property & Casualty Co. Ltd., Class H   172,322    205,565 
Pinduoduo Inc., ADR(a)   11,180    730,278 
Ping An Bank Co. Ltd., Class A   21,500    35,084 
Ping An Healthcare and Technology Co. Ltd.(a)(b)   13,500    31,228 
Ping An Insurance Group Co. of China Ltd., Class A   12,900    85,198 
Ping An Insurance Group Co. of China Ltd., Class H   140,000    888,466 
Poly Developments and Holdings Group Co. Ltd., Class A   12,900    23,097 
Pop Mart International Group Ltd.(b)(d)   8,600    18,909 
Postal Savings Bank of China Co. Ltd., Class A   38,700    27,944 
Postal Savings Bank of China Co. Ltd., Class H(b)   172,000    108,069 
Power Construction Corp. of China Ltd., Class A   25,800    24,028 
Qifu Technology Inc.   2,698    37,097 
Qinghai Salt Lake Industry Co. Ltd., Class A(a)   8,600    22,717 
Rongsheng Petrochemical Co. Ltd., Class A   17,250    28,130 
SAIC Motor Corp. Ltd., Class A   12,900    24,323 
Sany Heavy Equipment International Holdings Co. Ltd.   43,000    56,736 
Sany Heavy Industry Co. Ltd., Class A   12,953    26,736 
SF Holding Co. Ltd., Class A   8,600    57,266 
Shaanxi Coal Industry Co. Ltd., Class A   17,205    40,522 
Shandong Gold Mining Co. Ltd., Class A   8,680    30,839 
Shandong Gold Mining Co. Ltd., Class H(b)   10,750    20,520 
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A   6,340    25,986 
Shandong Nanshan Aluminum Co. Ltd., Class A   47,300    20,005 
Shandong Weigao Group Medical Polymer Co. Ltd., Class H   51,600    76,191 
Shanghai Baosight Software Co. Ltd., Class B   12,900    42,889 
Shanghai Construction Group Co. Ltd., Class A   12,900    4,786 
Shanghai Electric Group Co. Ltd., Class A(a)   43,000    29,176 
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A   8,600    37,674 
Shanghai Fudan Microelectronics Group Co. Ltd., Class A   3,927    31,473 
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B   25,876    15,453 
Shanghai Pharmaceuticals Holding Co. Ltd., Class A   4,300    14,168 
Shanghai Pharmaceuticals Holding Co. Ltd., Class H   17,200    34,279 
Shanghai Pudong Development Bank Co. Ltd., Class A   38,700    39,971 
Shanghai RAAS Blood Products Co. Ltd., Class A   26,200    24,738 
Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A   8,600    8,591 
Shanxi Coking Coal Energy Group Co. Ltd., Class A   12,900    17,850 
Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A   8,652    22,737 
Shanxi Meijin Energy Co. Ltd., Class A   17,200    17,324 
Shanxi Securities Co. Ltd., Class A   17,660    14,440 
Shanxi Taigang Stainless Steel Co. Ltd., Class A   12,900    7,219 
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A   2,360    69,677 
Shenghe Resources Holding Co. Ltd., Class A   8,600    15,440 
Shengyi Technology Co. Ltd., Class A   8,600    18,433 
Shenwan Hongyuan Group Co. Ltd., Class A   55,994    37,141 
Shenzhen Energy Group Co. Ltd., Class A   18,620    18,082 
Shenzhen Inovance Technology Co. Ltd., Class A   4,397    36,523 
Shenzhen International Holdings Ltd.(d)   43,000    34,090 
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A   2,200    93,033 
Shenzhen Overseas Chinese Town Co. Ltd., Class A   12,900    8,624 
Shenzhen Transsion Holding Co. Ltd., Class A   1,541    27,168 
Shenzhou International Group Holdings Ltd.   17,200    139,275 
Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A   4,300    17,348 
Shimao Group Holdings Ltd.(a)(c)   17,478    2,883 
Sichuan Chuantou Energy Co. Ltd., Class A   12,905    27,003 
Sichuan Road & Bridge Co. Ltd., Class A   12,920    27,596 
Security  Shares   Value 
         
China (continued)          
Sino Biopharmaceutical Ltd.   232,000   $110,598 
Sinopec Shanghai Petrochemical Co. Ltd., Class A   17,200    7,581 
Sinopharm Group Co. Ltd., Class H   34,400    112,765 
Smoore International Holdings Ltd.(b)(d)   43,000    43,394 
Songcheng Performance Development Co. Ltd., Class A   8,780    15,687 
SooChow Securities Co. Ltd., Class A   21,552    21,762 
Sunny Optical Technology Group Co. Ltd.   17,300    162,845 
Sunwoda Electronic Co. Ltd., Class A   7,300    16,347 
Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A   4,300    15,343 
TAL Education Group, ADR(a)   9,804    53,236 
TBEA Co. Ltd., Class A   8,600    27,035 
TCL Technology Group Corp., Class A   40,950    22,223 
TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A   8,600    44,890 
Tencent Holdings Ltd.   137,500    5,441,468 
Tencent Music Entertainment Group, ADR(a)   15,652    108,625 
Tianma Microelectronics Co. Ltd., Class A(a)   12,900    17,523 
Tianqi Lithium Corp., Class A(a)   4,300    43,464 
Tianshui Huatian Technology Co. Ltd., Class A   21,700    29,647 
Tingyi Cayman Islands Holding Corp.   46,000    68,907 
Tongcheng Travel Holdings Ltd.(a)   34,400    68,669 
TongFu Microelectronics Co. Ltd., Class A   8,600    29,921 
Tongling Nonferrous Metals Group Co. Ltd., Class A   47,300    19,299 
Tongwei Co. Ltd., Class A   8,695    41,680 
Topsports International Holdings Ltd.(b)   43,000    33,412 
TravelSky Technology Ltd., Class H   30,000    54,729 
Trina Solar Co. Ltd., Class A   4,300    23,757 
Trip.com Group Ltd.(a)   13,050    415,628 
Tsingtao Brewery Co. Ltd., Class H   16,000    137,752 
Uni-President China Holdings Ltd.   43,000    37,370 
Unisplendour Corp. Ltd., Class A   6,780    31,092 
Vipshop Holdings Ltd., ADR(a)   7,998    114,531 
Walvax Biotechnology Co. Ltd., Class A   4,300    17,467 
Wanhua Chemical Group Co. Ltd., Class A   5,000    57,804 
Want Want China Holdings Ltd.   86,000    57,562 
Weibo Corp., ADR(a)   1,548    21,626 
Weichai Power Co. Ltd., Class A   10,600    17,220 
Weichai Power Co. Ltd., Class H   43,100    58,518 
Wens Foodstuffs Group Co. Ltd., Class A   12,940    30,596 
Western Securities Co. Ltd., Class A   21,500    19,581 
Will Semiconductor Co. Ltd. Shanghai, Class A   3,375    47,359 
Wingtech Technology Co. Ltd., Class A   3,000    21,028 
Wuhan Guide Infrared Co. Ltd., Class A   19,480    28,108 
Wuliangye Yibin Co. Ltd., Class A   5,400    122,535 
WUS Printed Circuit Kunshan Co. Ltd., Class A   4,360    12,805 
WuXi AppTec Co. Ltd., Class A   4,328    39,553 
WuXi AppTec Co. Ltd., Class H(b)   8,687    71,451 
Wuxi Biologics Cayman Inc.(a)(b)   86,000    440,301 
XCMG Construction Machinery Co. Ltd., Class A   30,300    25,482 
Xiamen C & D Inc., Class A   4,300    7,016 
Xiaomi Corp., Class B(a)(b)   335,400    442,938 
Xinjiang Goldwind Science & Technology Co. Ltd., Class A   10,053    15,374 
Xinyi Solar Holdings Ltd.   128,000    126,440 
XPeng Inc.(a)   24,226    96,014 
Xtep International Holdings Ltd.   43,000    43,221 
Yadea Group Holdings Ltd.(b)   28,000    55,782 
Yankuang Energy Group Co. Ltd., Class H   38,000    96,348 
Yihai International Holding Ltd.   19,000    42,157 
Yihai Kerry Arawana Holdings Co. Ltd., Class A   4,300    24,320 

4

 

Schedule of Investments (unaudited) (continued) iShares® MSCI BIC ETF
May 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
China (continued)          
Yonyou Network Technology Co. Ltd., Class A   8,630   $24,097 
Youngor Group Co. Ltd., Class A   4,300    4,151 
Yuexiu Property Co. Ltd.   43,400    47,014 
Yum China Holdings Inc.   9,460    534,112 
Yunda Holding Co. Ltd., Class A   6,430    10,308 
Yunnan Baiyao Group Co. Ltd., Class A   4,308    32,600 
Yunnan Energy New Material Co. Ltd., Class A(a)   1,700    21,752 
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A   1,400    59,846 
Zhaojin Mining Industry Co. Ltd., Class H(a)   43,000    61,234 
Zhejiang Century Huatong Group Co. Ltd., Class A(a)   17,200    15,028 
Zhejiang Chint Electrics Co. Ltd., Class A   4,300    15,791 
Zhejiang Dahua Technology Co. Ltd., Class A   8,600    23,994 
Zhejiang Huayou Cobalt Co. Ltd., Class A   4,300    27,947 
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A   4,300    41,667 
Zhejiang Juhua Co. Ltd., Class A   8,600    15,889 
Zhejiang NHU Co. Ltd., Class A   8,643    18,336 
Zheshang Securities Co. Ltd., Class A   12,900    18,119 
ZhongAn Online P&C Insurance Co. Ltd., Class H(a)(b)   12,900    36,330 
Zhongsheng Group Holdings Ltd.   21,500    79,350 
Zhongtai Securities Co. Ltd., Class A   17,200    16,454 
Zhuzhou CRRC Times Electric Co. Ltd.   12,900    54,287 
Zijin Mining Group Co. Ltd., Class A   25,800    38,789 
Zijin Mining Group Co. Ltd., Class H   123,000    167,299 
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A   21,600    19,226 
ZTE Corp., Class A   4,300    21,276 
ZTE Corp., Class H   17,248    52,959 
ZTO Express Cayman Inc., ADR   9,417    237,685 
         42,141,110 
Hong Kong — 0.0%          
China Renewable Energy Investment Ltd.(c)   7,709     
           
India — 29.2%          
ABB India Ltd.   1,290    64,280 
ACC Ltd.   1,486    31,893 
Adani Enterprises Ltd.   3,864    116,309 
Adani Green Energy Ltd.(a)   6,966    82,067 
Adani Ports & Special Economic Zone Ltd.   11,739    104,679 
Adani Power Ltd.(a)   16,770    50,517 
Ambuja Cements Ltd.(a)   13,502    69,003 
Apollo Hospitals Enterprise Ltd.   2,322    129,585 
Asian Paints Ltd.   8,385    323,053 
AU Small Finance Bank Ltd.(b)   5,332    49,991 
Aurobindo Pharma Ltd.   5,934    47,208 
Avenue Supermarts Ltd.(a)(b)   3,655    153,064 
Axis Bank Ltd.   50,865    561,339 
Bajaj Auto Ltd.   1,505    82,988 
Bajaj Finance Ltd.   6,063    511,318 
Bajaj Finserv Ltd.   8,518    149,134 
Bajaj Holdings & Investment Ltd.   602    52,826 
Balkrishna Industries Ltd.   1,745    47,924 
Bandhan Bank Ltd.(a)(b)   15,886    51,360 
Bank of Baroda   23,220    51,803 
Berger Paints India Ltd.   7,395    58,057 
Bharat Electronics Ltd.   87,033    117,863 
Bharat Forge Ltd.   5,619    53,649 
Bharat Petroleum Corp. Ltd.   15,308    67,215 
Bharti Airtel Ltd.   48,246    495,223 
Britannia Industries Ltd.   2,279    128,243 
Security  Shares   Value 
         
India (continued)          
CG Power and Industrial Solutions Ltd.   14,749   $70,035 
Cholamandalam Investment and Finance Co. Ltd.   9,761    123,842 
Cipla Ltd.   10,750    123,761 
Coal India Ltd.   34,099    99,317 
Colgate-Palmolive India Ltd.   1,806    34,712 
Container Corp. of India Ltd.   6,106    49,465 
Dabur India Ltd.   13,330    89,397 
Divi’s Laboratories Ltd.   2,623    109,093 
DLF Ltd.   15,222    87,253 
Dr. Reddy’s Laboratories Ltd.   2,365    128,900 
Eicher Motors Ltd.   3,010    133,451 
GAIL India Ltd.   48,198    61,013 
Godrej Consumer Products Ltd.(a)   8,514    108,829 
Godrej Properties Ltd.(a)   3,053    51,239 
Grasim Industries Ltd.   5,934    123,033 
Havells India Ltd.   5,590    88,251 
HCL Technologies Ltd.   20,941    289,305 
HDFC Life Insurance Co. Ltd.(b)   21,328    152,411 
Hero MotoCorp Ltd.   2,322    77,379 
Hindalco Industries Ltd.   26,488    129,691 
Hindustan Aeronautics Ltd.   1,730    65,180 
Hindustan Petroleum Corp. Ltd.   14,620    46,081 
Hindustan Unilever Ltd.   18,189    586,165 
Housing Development Finance Corp. Ltd.   38,442    1,224,984 
ICICI Bank Ltd.   114,983    1,314,905 
ICICI Lombard General Insurance Co. Ltd.(b)   5,077    72,428 
ICICI Prudential Life Insurance Co. Ltd.(b)   7,873    44,287 
Indian Hotels Co. Ltd. (The)   21,371    100,549 
Indian Oil Corp. Ltd.   57,749    62,785 
Indian Railway Catering & Tourism Corp. Ltd.   5,848    45,843 
Indraprastha Gas Ltd.   7,267    42,160 
Info Edge India Ltd.   1,634    80,305 
Infosys Ltd.   73,186    1,163,440 
InterGlobe Aviation Ltd.(a)(b)   2,838    81,358 
ITC Ltd.   67,940    365,438 
Jindal Steel & Power Ltd.   8,691    54,293 
JSW Steel Ltd.   13,416    112,819 
Jubilant Foodworks Ltd.   8,471    49,398 
Kotak Mahindra Bank Ltd.   23,268    565,222 
Larsen & Toubro Infotech Ltd.(b)   2,090    125,943 
Larsen & Toubro Ltd.   15,179    403,983 
Lupin Ltd.   4,300    41,762 
Mahindra & Mahindra Ltd.   20,167    321,121 
Marico Ltd.   9,030    59,214 
Maruti Suzuki India Ltd.   2,881    325,870 
Max Healthcare Institute Ltd.(a)   16,967    112,683 
Mphasis Ltd.   1,677    39,382 
MRF Ltd.   43    50,480 
Muthoot Finance Ltd.   3,225    43,441 
Nestle India Ltd.   774    202,659 
NTPC Ltd.   88,881    186,396 
Oil & Natural Gas Corp. Ltd.   63,640    119,007 
Page Industries Ltd.   129    60,404 
Petronet LNG Ltd.   15,480    42,201 
PI Industries Ltd.   1,892    82,668 
Pidilite Industries Ltd.   3,612    113,755 
Power Grid Corp. of India Ltd.   67,682    191,138 
Reliance Industries Ltd.   67,037    1,998,699 
Samvardhana Motherson International Ltd.   46,440    44,306 
SBI Cards & Payment Services Ltd.   5,416    59,970 

5

 

Schedule of Investments (unaudited) (continued) iShares® MSCI BIC ETF
May 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
India (continued)          
SBI Life Insurance Co. Ltd.(b)   9,718   $144,863 
Shree Cement Ltd.   215    65,332 
Shriram Transport Finance Co. Ltd.   5,074    85,747 
Siemens Ltd.   1,892    81,107 
Sona Blw Precision Forgings Ltd.(b)   2,000    13,092 
SRF Ltd.   3,268    99,391 
State Bank of India   39,474    276,050 
Sun Pharmaceutical Industries Ltd.   21,328    251,474 
Tata Consultancy Services Ltd.   20,167    800,610 
Tata Consumer Products Ltd.   10,535    101,627 
Tata Elxsi Ltd.   774    69,317 
Tata Motors Ltd.(a)   37,066    235,403 
Tata Power Co. Ltd. (The)   31,347    80,761 
Tata Steel Ltd.   156,993    200,616 
Tech Mahindra Ltd.   11,997    161,440 
Titan Co. Ltd.   7,826    266,794 
Torrent Pharmaceuticals Ltd.   2,408    53,372 
Trent Ltd.   4,601    86,694 
Tube Investments of India Ltd.   2,623    90,695 
TVS Motor Co. Ltd.   5,246    82,501 
UltraTech Cement Ltd.   2,408    228,674 
United Spirits Ltd.(a)   5,848    62,359 
UPL Ltd.   10,664    88,189 
Varun Beverages Ltd.   5,375    109,958 
Vedanta Ltd.   15,996    53,729 
Wipro Ltd.   29,713    145,049 
Yes Bank Ltd.(a)   296,700    58,031 
Zomato Ltd.(a)   86,746    72,265 
         20,548,830 
Russia — 0.0%          
Alrosa PJSC(a)(c)   83,790    10 
Gazprom PJSC(c)   376,774    46 
Inter RAO UES PJSC(c)   1,065,900    131 
LUKOIL PJSC(c)   12,996    2 
Magnit PJSC(a)(c)   2,131     
Magnit PJSC, GDR(c)   4     
MMC Norilsk Nickel PJSC(c)   1,995     
Mobile TeleSystems PJSC(c)   16,644    2 
Moscow Exchange MICEX-RTS PJSC(a)(c)   41,040    5 
Novatek PJSC(c)   29,170    4 
Novolipetsk Steel PJSC(a)(c)   41,610    5 
Ozon Holdings PLC, ADR(a)(c)   1,881     
PhosAgro PJSC(c)   1,464     
PhosAgro PJSC, GDR(a)(c)(e)   1     
PhosAgro PJSC, New(c)   28     
Polymetal International PLC(a)(c)   10,488    1 
Polyus PJSC(a)(c)   1,083     
Rosneft Oil Co. PJSC(c)   37,278    5 
Sberbank of Russia PJSC(c)   331,170    41 
Severstal PAO(a)(c)   6,669    1 
Surgutneftegas PJSC(c)   182,410    22 
Tatneft PJSC(c)   41,097    5 
TCS Group Holding PLC, GDR(a)(c)(e)   3,884    1 
United Co. RUSAL International PJSC(a)(c)   95,760    12 
VK Co. Ltd.(a)(c)   4,446    1 
VTB Bank PJSC(a)(c)   153,340,001    19 
X5 Retail Group NV, GDR(a)(c)   2,622     
Security  Shares   Value 
         
Russia (continued)          
Yandex NV, Class A(a)(c)   9,690   $1 
         314 
           
Total Common Stocks — 96.9%          
(Cost: $101,360,283)        68,100,546 

 

Preferred Stocks

 

Brazil — 2.7%        
Banco Bradesco SA, Preference Shares, NVS   120,142    367,296 
Centrais Eletricas Brasileiras SA, Class B, Preference Shares, NVS   4,730    36,734 
Cia. Energetica de Minas Gerais, Preference Shares, NVS   31,369    72,343 
Gerdau SA, Preference Shares, NVS   24,082    113,781 
Itau Unibanco Holding SA, Preference Shares, NVS   106,812    554,345 
Itausa SA, Preference Shares, NVS   111,061    192,205 
Petroleo Brasileiro SA, Preference Shares, NVS   105,608    543,725 
         1,880,429 
Russia — 0.0%          
Surgutneftegas PJSC, Preference Shares, NVS(c)   193,800    24 
           
Total Preferred Stocks — 2.7%          
(Cost: $1,461,626)        1,880,453 

 

Rights

 

China — 0.0%        
Kangmei Pharmaceutical Co. Ltd., (Expires 12/31/49)   2,454     
           
Total Rights — 0.0%          
(Cost: $—)         
           
Total Long-Term Investments — 99.6%          
(Cost: $102,821,909)        69,980,999 

 

Short-Term Securities

 

Money Market Funds — 1.0%        
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.29%(f)(g)(h)   564,197    564,310 
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.07%(f)(g)   160,000    160,000 
           
Total Short-Term Securities — 1.0%          
(Cost: $724,065)        724,310 
           
Total Investments — 100.6%          
(Cost: $103,545,974)        70,705,309 
           
Liabilities in Excess of Other Assets — (0.6)%        (429,829)
           
Net Assets — 100.0%       $70,275,480 

 

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

(f)Affiliate of the Fund.

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

(h)All or a portion of this security was purchased with the cash collateral from loaned securities.

6

 

Schedule of Investments (unaudited) (continued) iShares® MSCI BIC ETF
May 31, 2023  

 

Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 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
08/31/22
   Purchases
at Cost
   Proceeds
from Sale
   Net Realized
Gain (Loss)
   Change in
Unrealized
Appreciation
(Depreciation)
   Value at
05/31/23
   Shares
Held at
05/31/23
   Income   Capital
Gain
Distributions
from
Underlying
Funds
 
BlackRock Cash Funds: Institutional, SL Agency Shares.  $1,973,504   $   $(1,408,718)(a)  $251   $(727)  $564,310    564,197   $10,197(b)  $ 
BlackRock Cash Funds: Treasury, SL Agency Shares   160,000    0(a)               160,000    160,000    15,863    1 
                  $251   $(727)  $724,310        $26,060   $1 

 

(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.

 

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 China Index   6   06/16/23  $129   $(2,138)
MSCI Emerging Markets Index   4   06/16/23   191    307 
                $(1,831)

 

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                    
Common Stocks  $8,214,631   $59,872,798   $13,117   $68,100,546 
Preferred Stocks   1,880,429        24    1,880,453 
Rights                

 

7

 

Schedule of Investments (unaudited) (continued) iShares® MSCI BIC ETF
May 31, 2023  

 

Fair Value Hierarchy as of Period End (continued)

 

   Level 1   Level 2   Level 3   Total 
Short-Term Securities                    
Money Market Funds  $724,310   $   $   $724,310 
   $10,819,370   $59,872,798   $13,141   $70,705,309 
Derivative Financial Instruments(a)                    
Assets                    
Equity Contracts  $307   $   $   $307 
Liabilities                    
Equity Contracts       (2,138)       (2,138)
   $307   $(2,138)  $    (1,831)

 

(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
GDR Global Depositary Receipt
NVS Non-Voting Shares
PJSC Public Joint Stock Company

 

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