NPORT-EX 2 NPORT_2QNX_19057344_0523.htm

 

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

 

Security  Shares   Value 
         
Investment Companies          
           
Exchange-Traded Funds — 100.1%          
iShares MSCI Emerging Markets ETF(a)   3,316,069   $126,640,675 
           
Total Investment Companies          
(Cost: $150,307,114)        126,640,675 
           
Short-Term Securities          
           
Money Market Funds — 0.3%          
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.07%(a)(b)   410,000    410,000 
           
Total Short-Term Securities — 0.3%          
(Cost: $410,000)        410,000 
           
Total Investments in Securities — 100.4%          
(Cost: $150,717,114)        127,050,675 
           
Liabilities in Excess of Other Assets — (0.4)%    (555,731)
           
Net Assets — 100.0%       $126,494,944 

 

 

(a)Affiliate of the Fund.
(b)Annualized 7-day yield as of period end.

 

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(a)  $—   $23,913(b)  $—   $(23,913)  $—   $—   —   $20,891(c)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   960,000    —    (550,000)(b)   —    —    410,000   410,000    12,700    — 
iShares MSCI Emerging Markets ETF   153,764,856    57,280,440    (78,972,934)   (7,475,867)   2,044,180    126,640,675   3,316,069    2,239,518    — 
                  $(7,499,780)  $2,044,180   $127,050,675       $2,273,109   $— 

 

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

(b)Represents net amount purchased (sold).

(c)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

 

Forward Foreign Currency Exchange Contracts

 

Currency Purchased   Currency Sold   Counterparty  Settlement Date  Unrealized
Appreciation
(Depreciation)		 
BRL 32,602,000   USD 6,366,459   Morgan Stanley & Co. International PLC  06/05/23  $57,237 
CLP 671,464,000   USD 824,742   Morgan Stanley & Co. International PLC  06/05/23   3,892 
CNH 45,828,320   USD 6,431,323   Citibank N.A.  06/05/23   9,704 
EUR 1,880,000   USD 2,004,268   State Street Bank & Trust Company  06/05/23   5,599 
HKD 12,271,000   USD 1,565,897   Barclays Bank PLC  06/05/23   1,341 
HKD 19,819,000   USD 2,529,624   HSBC Bank PLC  06/05/23   1,636 
HKD 15,918,000   USD 2,030,797   State Street Bank & Trust Company  06/05/23   2,232 
INR 1,426,822,000   USD 17,244,021   JPMorgan Chase Bank N.A.  06/05/23   5,432 

 

1

 

Schedule of Investments (unaudited) (continued) iShares® Currency Hedged MSCI Emerging Markets ETF
May 31, 2023  

 

Forward Foreign Currency Exchange Contracts (continued)

 

Currency Purchased   Currency Sold   Counterparty  Settlement Date  Unrealized
Appreciation
(Depreciation)		 
INR 316,000   USD 3,816   Morgan Stanley & Co. International PLC  06/05/23  $4 
KRW 21,841,508,000   USD 16,479,182   JPMorgan Chase Bank N.A.  06/05/23   3,375 
KRW 2,927,812,000   USD 2,186,963   Morgan Stanley & Co. International PLC  06/05/23   22,492 
MXN 63,210,000   USD 3,557,078   Citibank N.A.  06/05/23   13,950 
MXN 548,000   USD 30,187   Goldman Sachs & Co.  06/05/23   772 
TRY 285,000   USD 13,381   Citibank N.A.  06/05/23   124 
TRY 911,000   USD 41,847   JPMorgan Chase Bank N.A.  06/05/23   1,323 
TWD 577,758,000   USD 18,772,395   JPMorgan Chase Bank N.A.  06/05/23   30,766 
TWD 78,903,000   USD 2,562,413   Morgan Stanley & Co. International PLC  06/05/23   5,489 
USD 7,523,501   BRL 37,859,000   Morgan Stanley & Co. International PLC  06/05/23   63,998 
USD 959,152   CLP 772,925,000   Morgan Stanley & Co. International PLC  06/05/23   5,308 
USD 109,564   CNH 757,000   Bank of New York  06/05/23   3,170 
USD 7,535,940   CNH 52,041,320   Societe Generale  06/05/23   221,696 
USD 109,887   CNH 764,000   State Street Bank & Trust Company  06/05/23   2,509 
USD 141,466   EUR 128,000   Bank of America N.A.  06/05/23   4,624 
USD 23,174   EUR 21,000   Bank of New York  06/05/23   724 
USD 77,153   EUR 70,000   JPMorgan Chase Bank N.A.  06/05/23   2,318 
USD 2,122,721   EUR 1,919,000   State Street Bank & Trust Company  06/05/23   71,160 
USD 110,406   HKD 864,000   JPMorgan Chase Bank N.A.  06/05/23   57 
USD 19,336,388   INR 1,584,322,000   JPMorgan Chase Bank N.A.  06/05/23   182,851 
USD 417,033   INR 34,134,000   Morgan Stanley & Co. International PLC  06/05/23   4,372 
USD 277,355   KRW 365,005,000   Morgan Stanley & Co. International PLC  06/05/23   1,907 
USD 3,938   TRY 81,000   JPMorgan Chase Bank N.A.  06/05/23   100 
USD 21,939,032   TWD 672,914,000   JPMorgan Chase Bank N.A.  06/05/23   39,015 
USD 584,818   TWD 17,924,000   Morgan Stanley & Co. International PLC  06/05/23   1,480 
USD 55,127   ZAR 1,011,000   BNP Paribas SA  06/05/23   3,871 
USD 5,021,442   ZAR 92,092,000   Citibank N.A.  06/05/23   352,455 
USD 64,242   ZAR 1,200,000   Goldman Sachs & Co.  06/05/23   3,403 
USD 49,597   ZAR 915,000   State Street Bank & Trust Company  06/05/23   3,207 
ZAR 84,238,000   USD 4,249,832   Citibank N.A.  06/05/23   20,965 
IDR 39,048,426,000   USD 2,603,576   JPMorgan Chase Bank N.A.  06/07/23   1,278 
USD 2,934,510   IDR 43,027,965,000   JPMorgan Chase Bank N.A.  06/07/23   64,188 
USD 73,946   IDR 1,088,445,000   Morgan Stanley & Co. International PLC  06/07/23   1,337 
USD 54,532   MYR 243,000   Morgan Stanley & Co. International PLC  06/07/23   1,875 
USD 2,090,950   MYR 9,288,000   State Street Bank & Trust Company  06/07/23   78,289 
USD 4,921   THB 170,000   Goldman Sachs & Co.  06/07/23   34 
USD 3,111,812   THB 105,782,000   HSBC Bank PLC  06/07/23   70,601 
USD 54,892   THB 1,859,000   State Street Bank & Trust Company  06/07/23   1,446 
USD 9,787   THB 337,000   UBS AG  06/07/23   99 
BRL 736,000   USD 144,093   Morgan Stanley & Co. International PLC  07/06/23   188 
CLP 14,740,000   USD 18,060   Morgan Stanley & Co. International PLC  07/06/23   52 

 

2

 

Schedule of Investments (unaudited) (continued) iShares® Currency Hedged MSCI Emerging Markets ETF
May 31, 2023  

 

Forward Foreign Currency Exchange Contracts (continued)

 

Currency Purchased   Currency Sold   Counterparty  Settlement Date  Unrealized
Appreciation
(Depreciation)		 
CNH 1,411,000   USD 198,600   Morgan Stanley & Co. International PLC  07/06/23  $243 
EUR 46,000   USD 49,200   HSBC Bank PLC  07/06/23   66 
IDR 439,243,000   USD 29,269   JPMorgan Chase Bank N.A.  07/06/23   11 
USD 30,432,216   HKD 238,033,000   BNP Paribas SA  07/06/23   8,200 
USD 1,811,210   MYR 8,337,000   State Street Bank & Trust Company  07/06/23   1,042 
USD 2,652,398   THB 91,891,000   Citibank N.A.  07/06/23   2,868 
USD 2,365   THB 82,000   Morgan Stanley & Co. International PLC  07/06/23   1 
USD 50,419   TRY 1,168,000   JPMorgan Chase Bank N.A.  07/06/23   15 
ZAR 4,728,000   USD 237,819   JPMorgan Chase Bank N.A.  07/06/23   1,163 
                   1,387,554 
BRL 699,000   USD 138,767   Citibank N.A.  06/05/23   (1,040)
BRL 4,558,000   USD 923,767   Morgan Stanley & Co. International PLC  06/05/23   (25,687)
CLP 8,631,000   USD 10,713   Citibank N.A.  06/05/23   (62)
CLP 92,830,000   USD 117,231   Morgan Stanley & Co. International PLC  06/05/23   (2,672)
CNH 1,924,000   USD 276,784   BNP Paribas SA  06/05/23   (6,372)
CNH 1,879,000   USD 268,848   Citibank N.A.  06/05/23   (4,760)
CNH 3,931,000   USD 566,494   JPMorgan Chase Bank N.A.  06/05/23   (14,004)
EUR 78,000   USD 84,820   Citibank N.A.  06/05/23   (1,432)
EUR 81,000   USD 88,190   Deutsche Bank Securities Inc.  06/05/23   (1,595)
EUR 99,000   USD 107,541   State Street Bank & Trust Company  06/05/23   (1,703)
HKD 238,033,000   USD 30,409,860   BNP Paribas SA  06/05/23   (8,560)
HKD 51,000   USD 6,517   UBS AG  06/05/23   (3)
INR 199,496,000   USD 2,423,824   Morgan Stanley & Co. International PLC  06/05/23   (12,033)
MXN 2,687,000   USD 153,621   Goldman Sachs & Co.  06/05/23   (1,820)
MXN 2,613,000   USD 148,810   Morgan Stanley & Co. International PLC  06/05/23   (1,190)
MXN 3,293,000   USD 186,590   State Street Bank & Trust Company  06/05/23   (553)
TRY 738,000   USD 36,691   Citibank N.A.  06/05/23   (1,719)
TRY 612,000   USD 30,550   HSBC Bank PLC  06/05/23   (1,550)
TRY 3,000   USD 148   JPMorgan Chase Bank N.A.  06/05/23   (6)
TRY 16,504,000   USD 783,898   UBS AG  06/05/23   (1,827)
TWD 35,306,000   USD 1,151,608   JPMorgan Chase Bank N.A.  06/05/23   (2,573)
USD 35,996,138   HKD 282,154,000   Bank of America N.A.  06/05/23   (40,247)
USD 336,131   HKD 2,635,000   HSBC Bank PLC  06/05/23   (408)
USD 56,036   HKD 439,000   UBS AG  06/05/23   (33)
USD 98,657   INR 8,178,000   Morgan Stanley & Co. International PLC  06/05/23   (210)
USD 274,868   KRW 367,397,000   Citibank N.A.  06/05/23   (2,386)
USD 338,150   KRW 451,583,000   Morgan Stanley & Co. International PLC  06/05/23   (2,634)
USD 17,654,146   KRW 23,585,335,000   UBS AG  06/05/23   (144,380)
USD 12,866   MXN 231,000   Bank of New York  06/05/23   (184)
USD 57,834   MXN 1,048,000   Goldman Sachs & Co.  06/05/23   (1,372)
USD 3,907,342   MXN 70,958,000   HSBC Bank PLC  06/05/23   (101,407)
USD 6,320   MXN 114,000   JPMorgan Chase Bank N.A.  06/05/23   (121)
USD 852,103   TRY 18,225,000   Citibank N.A.  06/05/23   (11,520)
USD 26,145   TRY 569,000   JPMorgan Chase Bank N.A.  06/05/23   (819)

 

3

 

Schedule of Investments (unaudited) (continued) iShares® Currency Hedged MSCI Emerging Markets ETF
May 31, 2023  

 

Forward Foreign Currency Exchange Contracts (continued)

 

Currency Purchased   Currency Sold   Counterparty  Settlement Date  Unrealized
Appreciation
(Depreciation)		 
USD 8,337   TRY 178,000   Morgan Stanley & Co. International PLC  06/05/23  $(98)
USD 36,680   TWD 1,129,000   Morgan Stanley & Co. International PLC  06/05/23   (64)
ZAR 10,980,000   USD 572,042   State Street Bank & Trust Company  06/05/23   (15,365)
IDR 5,067,984,000   USD 341,734   Morgan Stanley & Co. International PLC  06/07/23   (3,658)
MYR 1,194,000   USD 266,383   Morgan Stanley & Co. International PLC  06/07/23   (7,649)
MYR 8,337,000   USD 1,808,460   State Street Bank & Trust Company  06/07/23   (1,875)
THB 3,569,000   USD 104,978   Bank of America N.A.  06/07/23   (2,370)
THB 3,794,000   USD 111,364   Barclays Bank PLC  06/07/23   (2,287)
THB 91,891,000   USD 2,646,485   Citibank N.A.  06/07/23   (4,638)
THB 4,893,000   USD 144,366   Goldman Sachs & Co.  06/07/23   (3,693)
THB 4,001,000   USD 118,874   UBS AG  06/07/23   (3,847)
CNH 327,000   USD 46,094   BNP Paribas SA  07/06/23   (12)
HKD 15,781,000   USD 2,017,684   Deutsche Bank Securities Inc.  07/06/23   (647)
HKD 622,000   USD 79,506   HSBC Bank PLC  07/06/23   (6)
IDR 493,051,000   USD 32,890   Morgan Stanley & Co. International PLC  07/06/23   (23)
INR 11,101,000   USD 134,093   Morgan Stanley & Co. International PLC  07/06/23   (33)
MXN 1,548,000   USD 86,926   Goldman Sachs & Co.  07/06/23   (44)
MYR 112,000   USD 24,321   Morgan Stanley & Co. International PLC  07/06/23   (3)
MYR 30,000   USD 6,518   State Street Bank & Trust Company  07/06/23   (4)
THB 1,193,000   USD 34,480   UBS AG  07/06/23   (82)
TRY 152,000   USD 6,578   Bank of America N.A.  07/06/23   (18)
TWD 6,845,000   USD 223,422   Morgan Stanley & Co. International PLC  07/06/23   (167)
USD 6,697,525   BRL 34,509,000   Morgan Stanley & Co. International  07/06/23   (67,446)
USD 820,560   CLP 671,464,000   Morgan Stanley & Co. International PLC  07/06/23   (4,507)
USD 6,448,063   CNH 45,828,320   Citibank N.A.  07/06/23   (10,200)
USD 2,007,972   EUR 1,880,000   State Street Bank & Trust Company  07/06/23   (5,507)
USD 108,961   EUR 102,000   UBS AG  07/06/23   (281)
USD 2,601,667   IDR 39,048,426,000   JPMorgan Chase Bank N.A.  07/06/23   (1,301)
USD 18,285,976   INR 1,514,978,000   JPMorgan Chase Bank N.A.  07/06/23   (9,512)
USD 17,084,481   KRW 22,606,930,000   JPMorgan Chase Bank N.A.  07/06/23   (37,700)
USD 9,445   KRW 12,475,000   Morgan Stanley & Co. International PLC  07/06/23   (3)
USD 3,533,549   MXN 63,210,000   Citibank N.A.  07/06/23   (14,172)
USD 8,665   MXN 155,000   Goldman Sachs & Co.  07/06/23   (34)
USD 711,878   TRY 16,504,000   UBS AG  07/06/23   (333)
USD 20,652,400   TWD 634,923,000   JPMorgan Chase Bank N.A.  07/06/23   (56,113)
USD 4,236,680   ZAR 84,238,000   Citibank N.A.  07/06/23   (21,235)
ZAR 1,550,000   USD 78,352   State Street Bank & Trust Company  07/06/23   (5)
                   (671,814)
                  $715,740 

 

4

 

Schedule of Investments (unaudited) (continued) iShares® Currency Hedged MSCI Emerging Markets ETF
May 31, 2023  

 

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                    
Investment Companies  $126,640,675   $—   $—   $126,640,675 
Short-Term Securities                    
Money Market Funds   410,000    —    —    410,000 
   $127,050,675   $—   $—   $127,050,675 
Derivative Financial Instruments(a)                    
Assets                    
Foreign Currency Exchange Contracts  $—   $1,387,554   $—   $1,387,554 
Liabilities                    
Foreign Currency Exchange Contracts   —    (671,814)   —    (671,814)
   $—   $715,740   $—    715,740 

 

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

 

5