NPORT-EX 2 NPORT_2QP8_21718463_0523.htm

 

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

 

Security  Shares   Value 
         
Common Stocks        
         
Brazil — 2.8%        
B3 SA - Brasil, Bolsa, Balcao   4,855,936   $12,749,309 
Banco do Brasil SA   1,078,533    9,485,767 
Banco Santander Brasil SA   1,158,224    6,529,321 
CCR SA   3,705,192    9,910,602 
Cosan SA   4,186,961    12,379,401 
Localiza Rent a Car SA   1,137,518    13,910,397 
Localiza Rent a Car SA(a)   5,089    61,690 
Lojas Renner SA   2,670,486    10,238,100 
Natura & Co. Holding SA   1,769,076    4,843,488 
Petroleo Brasileiro SA   1,632,444    9,398,949 
Rumo SA   1,530,421    6,280,599 
TOTVS SA   886,024    5,022,776 
Ultrapar Participacoes SA   3,337,335    11,136,949 
Vibra Energia SA   2,336,114    7,408,999 
         119,356,347 
Chile — 0.4%          
Empresas COPEC SA   1,016,231    7,339,401 
Enel Americas SA   87,003,604    11,218,025 
         18,557,426 
China — 28.6%          
37 Interactive Entertainment Network Technology Group Co. Ltd., Class A   1,251,300    5,749,405 
3SBio Inc.(b)   9,269,500    9,389,542 
AAC Technologies Holdings Inc.   2,560,000    5,248,634 
Agricultural Bank of China Ltd., Class A   13,097,700    6,478,132 
Agricultural Bank of China Ltd., Class H   28,947,000    10,908,470 
Akeso Inc.(a)(b)   908,000    4,044,180 
Alibaba Group Holding Ltd.(a)   10,990,768    109,384,208 
Alibaba Health Information Technology Ltd.(a)(c)   13,720,000    8,143,675 
Baidu Inc., Class A(a)   1,690,712    25,959,430 
Bank of China Ltd., Class H   32,514,000    12,727,843 
Bank of Communications Co. Ltd., Class A   5,315,400    4,369,425 
Beijing Enterprises Water Group Ltd.   14,738,000    3,613,708 
Bosideng International Holdings Ltd.   10,128,000    4,204,952 
BYD Co. Ltd., Class A   270,855    9,680,483 
BYD Co. Ltd., Class H   833,500    25,169,594 
China Construction Bank Corp., Class A   7,554,200    6,794,281 
China Construction Bank Corp., Class H   70,242,000    44,932,445 
China International Capital Corp. Ltd., Class A   1,087,713    6,365,019 
China International Capital Corp. Ltd., Class H(b)   3,301,600    6,039,519 
China Medical System Holdings Ltd.   6,046,000    8,512,041 
China Mengniu Dairy Co. Ltd.   4,117,000    16,001,312 
China Merchants Bank Co. Ltd., Class A   1,364,140    6,192,241 
China Merchants Bank Co. Ltd., Class H   3,765,000    17,507,819 
China Railway Signal & Communication Corp. Ltd., Class A   5,559,400    4,655,453 
China Resources Beer Holdings Co. Ltd.   1,274,000    8,042,201 
China Resources Gas Group Ltd.   2,443,000    8,043,214 
China Resources Land Ltd.   3,722,000    13,931,279 
China Resources Pharmaceutical Group Ltd.(b)   7,664,000    7,357,844 
China Tourism Group Duty Free Corp. Ltd., Class A   224,100    3,876,035 
Chow Tai Fook Jewellery Group Ltd.   4,262,600    7,545,024 
CITIC Securities Co. Ltd., Class A   1,379,800    3,887,034 
CMOC Group Ltd., Class A   12,966,600    9,555,247 
CMOC Group Ltd., Class H   13,743,000    7,186,627 
Contemporary Amperex Technology Co. Ltd., Class A   461,285    14,345,807 
Country Garden Services Holdings Co. Ltd.   5,137,000    5,988,374 
CSC Financial Co. Ltd., Class A   1,159,000    4,132,503 
Security  Shares   Value 
         
China (continued)          
CSPC Pharmaceutical Group Ltd.   8,407,520   $7,324,918 
ENN Energy Holdings Ltd.   1,221,500    14,225,227 
Far East Horizon Ltd.   5,047,000    4,229,025 
Fosun International Ltd.   19,051,500    12,565,200 
Ganfeng Lithium Group Co. Ltd., Class A   473,450    4,133,034 
Geely Automobile Holdings Ltd.   7,893,000    9,195,305 
Haier Smart Home Co. Ltd., Class A   1,334,400    4,027,245 
Haitong Securities Co. Ltd., Class A   4,474,700    5,916,179 
Hansoh Pharmaceutical Group Co. Ltd.(b)   2,862,000    4,763,509 
Huatai Securities Co. Ltd., Class A   4,785,002    9,094,715 
Huatai Securities Co. Ltd., Class H(b)   3,691,000    4,617,478 
Hygeia Healthcare Holdings Co. Ltd.(a)(b)   657,600    3,858,447 
Industrial & Commercial Bank of China Ltd., Class A   12,652,800    8,585,060 
Industrial & Commercial Bank of China Ltd., Class H   44,172,000    23,589,623 
Industrial Bank Co. Ltd., Class A   1,790,568    4,165,772 
JD Health International Inc.(a)(b)   1,061,150    6,545,295 
JD.com Inc., Class A   1,615,978    26,326,869 
Jiumaojiu International Holdings Ltd.(b)(c)   2,637,000    4,521,495 
KE Holdings Inc., ADR(a)   289,752    4,126,068 
Kingdee International Software Group Co. Ltd.(a)   4,698,000    6,245,463 
Kuaishou Technology(a)(b)   1,843,800    12,511,651 
Kunlun Energy Co. Ltd.   5,038,000    4,018,537 
Lenovo Group Ltd.   22,016,000    20,696,350 
Li Auto Inc., Class A(a)   1,466,628    21,281,277 
Meituan, Class B(a)(b)   3,249,130    45,621,933 
Microport Scientific Corp.(a)(c)   2,198,700    3,782,171 
NetEase Inc.   1,778,670    30,253,117 
NIO Inc., ADR(a)(c)   1,309,450    9,860,159 
Nongfu Spring Co. Ltd., Class H(b)   2,069,800    11,097,408 
Orient Securities Co. Ltd., Class A   3,368,852    4,680,957 
Pinduoduo Inc., ADR(a)   254,580    16,629,166 
Ping An Healthcare and Technology Co. Ltd.(a)(b)(c)   1,868,200    4,321,500 
Ping An Insurance Group Co. of China Ltd., Class H   5,617,000    35,646,525 
Pop Mart International Group Ltd.(b)(c)   1,835,600    4,036,005 
Postal Savings Bank of China Co. Ltd., Class A   9,960,900    7,192,508 
Postal Savings Bank of China Co. Ltd., Class H(b)   9,221,000    5,793,630 
Sangfor Technologies Inc., Class A   243,300    4,259,737 
Shandong Weigao Group Medical Polymer Co. Ltd., Class H   3,658,400    5,401,848 
Shanghai Electric Group Co. Ltd., Class A(a)   10,249,200    6,954,275 
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A   1,361,684    5,965,134 
Shanghai Pharmaceuticals Holding Co. Ltd., Class A   2,242,800    7,389,973 
Shanghai Pharmaceuticals Holding Co. Ltd., Class H   2,879,500    5,738,745 
Sinopharm Group Co. Ltd., Class H   1,570,800    5,145,428 
Sungrow Power Supply Co. Ltd., Class A   512,967    7,937,315 
Sunny Optical Technology Group Co. Ltd.   863,500    8,128,119 
TCL Technology Group Corp., Class A   14,932,840    8,103,963 
Tencent Holdings Ltd.   4,035,700    159,710,060 
Tongcheng Travel Holdings Ltd.(a)   5,167,600    10,315,455 
Trip.com Group Ltd.(a)   237,571    7,566,372 
Unisplendour Corp. Ltd., Class A   1,110,357    5,091,923 
Vipshop Holdings Ltd., ADR(a)   551,592    7,898,797 
Want Want China Holdings Ltd.   6,464,000    4,326,521 
WuXi AppTec Co. Ltd., Class A   1,126,889    10,298,439 
WuXi AppTec Co. Ltd., Class H(b)   530,180    4,360,756 
Wuxi Biologics Cayman Inc.(a)(b)   3,695,500    18,920,123 
XPeng Inc.(a)   1,862,096    7,379,969 
Yadea Group Holdings Ltd.(b)   7,400,000    14,747,990 
Yonyou Network Technology Co. Ltd., Class A   1,985,800    5,544,772 

 

1

 

 

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

 

Security  Shares   Value 
         
China (continued)          
Yum China Holdings Inc.   456,843   $25,793,356 
Yunnan Baiyao Group Co. Ltd., Class A   987,520    7,472,932 
         1,215,893,823 
Colombia — 0.1%          
Bancolombia SA   654,085    4,086,194 
Egypt — 0.1%          
Commercial International Bank Egypt SAE   2,537,904    4,290,856 
Greece — 0.7%          
Motor Oil Hellas Corinth Refineries SA   298,400    7,693,311 
Mytilineos SA   184,495    5,811,236 
OPAP SA   847,774    14,475,911 
         27,980,458 
Hungary — 0.3%          
MOL Hungarian Oil & Gas PLC.   1,712,843    13,945,201 
India — 14.2%          
ABB India Ltd.   76,558    3,818,003 
Adani Green Energy Ltd.(a)   512,631    6,039,359 
Asian Paints Ltd.   735,162    28,323,969 
AU Small Finance Bank Ltd.(b)   1,032,603    9,681,355 
Axis Bank Ltd.   2,043,123    22,547,617 
Bajaj Finance Ltd.   247,191    20,846,655 
Bandhan Bank Ltd.(a)(b)   1,487,493    4,809,129 
Bharti Airtel Ltd.   2,294,783    23,554,889 
Britannia Industries Ltd.   167,138    9,405,115 
Cholamandalam Investment and Finance Co. Ltd.   419,248    5,325,488 
Dabur India Ltd.   1,610,539    10,800,967 
DLF Ltd.   874,125    5,017,677 
Eicher Motors Ltd.   114,447    5,074,124 
Havells India Ltd.   317,223    5,008,076 
HCL Technologies Ltd.   1,596,791    22,060,049 
Hero MotoCorp Ltd.   290,484    9,680,157 
Hindalco Industries Ltd.   1,729,996    8,470,458 
Hindustan Unilever Ltd.   856,846    27,613,016 
Housing Development Finance Corp. Ltd.   1,169,806    37,276,763 
ICICI Bank Ltd.   3,447,863    39,428,543 
ICICI Prudential Life Insurance Co. Ltd.(b)   858,698    4,830,353 
Indian Hotels Co. Ltd. (The)   1,321,778    6,218,838 
Info Edge India Ltd.   106,539    5,235,993 
Infosys Ltd.   2,863,418    45,519,840 
Kotak Mahindra Bank Ltd.   1,298,681    31,547,333 
Mahindra & Mahindra Ltd.   611,398    9,735,344 
Mahindra & Mahindra Ltd., GDR   732,053    11,493,232 
Marico Ltd.   3,718,627    24,384,902 
Nestle India Ltd.   26,798    7,016,614 
PI Industries Ltd.   187,861    8,212,741 
Power Grid Corp. of India Ltd.   2,874,621    8,118,099 
Reliance Industries Ltd.   1,828,788    54,525,052 
Shriram Transport Finance Co. Ltd.   337,793    5,708,447 
Tata Consultancy Services Ltd.   480,504    19,075,536 
Tata Consumer Products Ltd.   1,139,896    10,996,074 
Tata Elxsi Ltd.   51,519    4,613,911 
Tech Mahindra Ltd.   608,766    8,191,985 
Titan Co. Ltd.   241,278    8,225,349 
TVS Motor Co. Ltd.   342,923    5,392,950 
United Spirits Ltd.(a)   548,946    5,853,558 
UPL Ltd.   547,712    4,529,475 
Security  Shares   Value 
         
India (continued)          
Zomato Ltd.(a)   8,720,184   $7,264,476 
         601,471,511 
Indonesia — 1.8%          
Bank Central Asia Tbk PT   48,016,300    28,974,347 
Bank Rakyat Indonesia Persero Tbk PT   40,764,400    15,147,565 
Kalbe Farma Tbk PT   108,118,828    14,642,692 
Telkom Indonesia Persero Tbk PT   55,200,600    14,903,359 
Unilever Indonesia Tbk PT   15,003,100    4,532,481 
         78,200,444 
Kuwait — 0.3%          
Kuwait Finance House KSCP   6,007,893    13,799,088 
Malaysia — 2.6%          
AMMB Holdings Bhd   8,104,700    6,388,755 
Axiata Group Bhd   14,631,000    8,805,786 
CIMB Group Holdings Bhd   9,890,300    10,324,224 
DiGi.Com Bhd   10,197,500    9,875,714 
Malayan Banking Bhd   9,901,300    18,551,119 
Maxis Bhd   13,174,600    11,729,904 
Nestle Malaysia Bhd   658,400    19,115,069 
Petronas Dagangan Bhd   2,177,900    9,965,821 
Public Bank Bhd   5,295,800    4,370,139 
Sime Darby Bhd   21,298,400    9,543,044 
         108,669,575 
Mexico — 2.4%          
Arca Continental SAB de CV   1,808,500    18,283,343 
Cemex SAB de CV, NVS(a)   18,100,028    10,887,235 
Fomento Economico Mexicano SAB de CV   2,302,700    23,187,118 
Grupo Aeroportuario del Sureste SAB de CV, Class B   222,975    6,245,165 
Grupo Bimbo SAB de CV, Series A   1,327,600    7,096,945 
Grupo Financiero Banorte SAB de CV, Class O   2,440,700    19,563,958 
Wal-Mart de Mexico SAB de CV   4,500,800    17,103,498 
         102,367,262 
Peru — 0.2%          
Credicorp Ltd.   74,447    9,637,164 
Poland — 0.7%          
Allegro.eu SA (a)(b)   912,671    7,670,458 
KGHM Polska Miedz SA   551,870    13,682,707 
Polski Koncern Naftowy ORLEN SA   497,805    7,087,900 
         28,441,065 
Qatar — 0.7%          
Qatar Fuel QSC   474,481    2,064,188 
Qatar National Bank QPSC   5,865,247    25,759,033 
         27,823,221 
Russia — 0.0%          
Gazprom PJSC(d)   7,224,690    886 
LUKOIL PJSC(d)   725,046    89 
Novatek PJSC(d)   1,686,230    207 
Novolipetsk Steel PJSC(a)(d)   5,130,970    629 
PhosAgro PJSC(d)   249,741    31 
PhosAgro PJSC, New(d)   4,826    48 
Polymetal International PLC(a)(d)   1,747,485    214 
Polyus PJSC(a)(d)   43,646    5 
Rosneft Oil Co. PJSC(d)   759,129    93 
Sberbank of Russia PJSC(d)   10,004,860    1,227 
TCS Group Holding PLC, GDR(a)(d)(e)   124,025    15 
Yandex NV, Class A(a)(d)   87,150    11 
         3,455 

 

2

 

 

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

 

Security  Shares   Value 
         
Saudi Arabia — 3.6%          
Al Rajhi Bank   1,660,147   $31,276,575 
Alinma Bank   1,109,408    9,657,185 
Bank AlBilad   569,242    5,645,495 
Dr Sulaiman Al Habib Medical Services Group Co.   206,959    14,735,918 
Etihad Etisalat Co.   962,661    11,034,106 
Mobile Telecommunications Co.(a)   1,877,222    6,897,866 
Riyad Bank   945,072    8,251,868 
SABIC Agri-Nutrients Co.   129,342    4,304,403 
Sahara International Petrochemical Co.   1,259,822    11,933,672 
Saudi Arabian Mining Co.(a)   913,313    15,119,529 
Saudi Basic Industries Corp.   814,488    19,137,962 
Saudi Investment Bank (The)   922,571    4,141,322 
Savola Group (The)   969,007    9,274,723 
         151,410,624 
South Africa — 3.9%          
Absa Group Ltd.   572,845    4,482,212 
Anglo American Platinum Ltd.   83,800    4,820,716 
Bidvest Group Ltd. (The)   868,502    10,474,657 
Gold Fields Ltd.   1,265,257    19,183,159 
Impala Platinum Holdings Ltd.   895,187    7,187,472 
Kumba Iron Ore Ltd.   412,574    9,071,136 
MTN Group Ltd.   1,128,682    6,981,444 
MultiChoice Group   803,088    3,994,516 
Naspers Ltd., Class N   161,107    24,303,536 
Nedbank Group Ltd.   758,538    8,007,853 
NEPI Rockcastle NV   3,922,543    22,406,859 
Standard Bank Group Ltd.   629,367    4,839,507 
Vodacom Group Ltd.   4,940,222    27,651,464 
Woolworths Holdings Ltd.   4,168,025    12,590,292 
         165,994,823 
South Korea — 12.4%          
CJ CheilJedang Corp.   45,977    10,731,506 
CJ Corp.   71,668    4,784,166 
DB Insurance Co. Ltd.   71,200    3,969,712 
Hana Financial Group Inc.   349,082    10,889,584 
Hanwha Aerospace Co. Ltd.   73,731    5,894,036 
Kakao Corp.   433,428    18,339,290 
KB Financial Group Inc.   628,660    22,670,172 
LG Chem Ltd.   33,664    17,544,630 
LG Corp.   1    65 
LG Display Co. Ltd.(a)   515,547    6,107,795 
NAVER Corp.   203,547    30,554,283 
NCSoft Corp.   21,404    5,174,141 
POSCO Future M Co. Ltd.   36,682    9,661,241 
POSCO Holdings Inc.   77,241    20,929,832 
Samsung C&T Corp.   119,677    9,968,699 
Samsung Electro-Mechanics Co. Ltd.   100,225    11,123,306 
Samsung Electronics Co. Ltd.   3,316,132    177,912,017 
Samsung Fire & Marine Insurance Co. Ltd.   31,573    5,362,670 
Samsung SDI Co. Ltd.   42,441    22,926,605 
Samsung SDS Co. Ltd.   60,901    5,703,518 
Samsung Securities Co. Ltd.   595,746    16,487,988 
Shinhan Financial Group Co. Ltd.   539,548    14,215,676 
SK Hynix Inc.   406,856    33,180,484 
SK Inc.   300,432    37,978,637 
SK Innovation Co. Ltd.(a)   94,709    13,480,580 
Woori Financial Group Inc.   1,095,805    9,880,599 
         525,471,232 
Security  Shares   Value 
         
Taiwan — 17.0%          
Acer Inc.   38,112,000   $38,199,847 
Advantech Co. Ltd.   427,000    5,655,813 
ASE Technology Holding Co. Ltd.   3,519,000    12,716,085 
AUO Corp.   7,608,200    4,351,883 
Cathay Financial Holding Co. Ltd.   15,999,769    23,017,911 
Chailease Holding Co. Ltd.   734,129    4,830,820 
China Steel Corp.   4,943,000    4,661,237 
CTBC Financial Holding Co. Ltd.   20,730,000    16,367,505 
Delta Electronics Inc.   2,987,000    30,673,379 
E.Sun Financial Holding Co. Ltd.   47,502,698    39,985,926 
Far EasTone Telecommunications Co. Ltd.   4,814,000    12,020,565 
First Financial Holding Co. Ltd.   53,315,722    48,716,630 
Fubon Financial Holding Co. Ltd.   10,939,559    21,603,629 
Lite-On Technology Corp.   4,837,000    13,994,696 
MediaTek Inc.   1,017,000    24,991,344 
Mega Financial Holding Co. Ltd.   17,419,625    20,264,248 
Shanghai Commercial & Savings Bank Ltd. (The)   243,000    356,971 
SinoPac Financial Holdings Co. Ltd.   37,185,257    20,917,862 
Taishin Financial Holding Co. Ltd.   22,355,507    13,337,315 
Taiwan Semiconductor Manufacturing Co. Ltd.   17,925,000    324,403,635 
United Microelectronics Corp.   12,110,000    20,269,519 
Voltronic Power Technology Corp.   175,000    11,012,528 
Wistron Corp.   4,340,000    9,420,812 
         721,770,160 
Thailand — 2.8%          
Advanced Info Service PCL, NVDR   3,563,700    21,604,553 
Asset World Corp. PCL, NVDR   61,932,400    8,749,637 
Bangkok Dusit Medical Services PCL, NVDR   20,040,700    16,247,392 
BTS Group Holdings PCL, NVDR   68,237,400    13,919,018 
Delta Electronics Thailand PCL, NVDR(c)   4,016,000    11,412,934 
Intouch Holdings PCL, NVDR   6,466,700    13,879,465 
Muangthai Capital PCL, NVDR   4,356,500    5,155,181 
PTT Exploration & Production PCL, NVDR   4,613,700    18,474,211 
PTT Public Company Ltd., NVDR   12,530,400    10,794,324 
         120,236,715 
Turkey — 0.5%          
Aselsan Elektronik Sanayi Ve Ticaret AS   2,358,746    5,409,191 
Haci Omer Sabanci Holding AS   5,321,333    9,898,758 
Yapi ve Kredi Bankasi AS   15,328,726    7,550,372 
         22,858,321 
United Arab Emirates — 1.5%          
Abu Dhabi Commercial Bank PJSC   9,747,096    21,203,473 
Abu Dhabi Islamic Bank PJSC   1,714,103    4,666,829 
Emirates Telecommunications Group Co. PJSC   3,800,190    23,856,886 
First Abu Dhabi Bank PJSC   3,831,238    13,239,936 
         62,967,124 
Total Common Stocks — 97.6%          
(Cost: $4,309,309,557)       4,145,232,089 
         
Preferred Stocks        
         
Brazil — 1.6%        
Banco Bradesco SA, Preference Shares, NVS   3,940,014    12,045,339 
Cia. Energetica de Minas Gerais, Preference Shares, NVS   7,455,761    17,194,411 
Gerdau SA, Preference Shares, NVS   1,138,724    5,380,169 
Itau Unibanco Holding SA, Preference Shares, NVS   2,285,953    11,863,904 
Petroleo Brasileiro SA, Preference Shares, NVS   3,785,562    19,490,052 
         65,973,875 

 

3

 

 

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

 

Security  Shares   Value 
         
Chile — 0.2%          
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares   116,132   $7,484,016 
Colombia — 0.1%          
Bancolombia SA, Preference Shares, NVS   1,020,714    5,954,547 
South Korea — 0.5%          
Samsung Electronics Co. Ltd., Preference Shares, NVS   532,016    23,432,758 
Total Preferred Stocks — 2.4%          
(Cost: $101,141,304)       102,845,196 
Total Long-Term Investments — 100.0%          
(Cost: $4,410,450,861)       4,248,077,285 
         
Short-Term Securities          
           
Money Market Funds — 0.4%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.29%(f)(g)(h)   18,588,900    18,592,618 
           
Total Short-Term Securities — 0.4%          
(Cost: $18,589,852)       18,592,618 
           
Total Investments — 100.4%          
(Cost: $4,429,040,713)       4,266,669,903 
           
Liabilities in Excess of Other Assets — (0.4)%     (16,261,326)
           
Net Assets — 100.0%      $4,250,408,577 

 

 

(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)All or a portion of this security is on loan.
(d)Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(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.

 

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
08/31/23		   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  $23,472,414   $—   $(4,873,436)(a)   $3,098   $(9,458)  $18,592,618   18,588,900   $443,096(b)   $— 
BlackRock Cash Funds: Treasury, SL Agency Shares(c)   5,610,000    —    (5,610,000)(a)   —    —    —   —    121,134    1 
                  $3,098   $(9,458)  $18,592,618       $564,230   $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.

 

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

 

Derivative Financial Instruments Outstanding as of Period End

 

Futures Contracts

 

Description   Number of
Contracts		    Expiration
Date		    Notional
Amount
(000)		   Value/
Unrealized
Appreciation
(Depreciation)		 
Long Contracts                    
MSCI Emerging Markets Index   189    06/16/23   $9,042   $(172,558)

 

4

 

 

Schedule of Investments (unaudited) (continued) iShares® ESG Aware MSCI EM 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                    
Common Stocks  $473,282,602   $3,671,946,032   $3,455   $4,145,232,089 
Preferred Stocks   79,412,438    23,432,758    —    102,845,196 
Short-Term Securities                    
Money Market Funds   18,592,618    —    —    18,592,618 
   $571,287,658   $3,695,378,790   $3,455   $4,266,669,903 
Derivative Financial Instruments(a)                    
Liabilities                    
Equity Contracts  $(172,558)  $—   $—   $(172,558)

 

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

 

Portfolio Abbreviation

 

ADRAmerican Depositary Receipt
GDRGlobal Depositary Receipt
NVDRNon-Voting Depositary Receipt
NVSNon-Voting Shares
PJSCPublic Joint Stock Company

 

5