NPORT-EX 2 NPORT_0BID_71668609_0523.htm
Schedule of Investments (unaudited) iShares® MSCI Switzerland ETF
May 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Banks — 0.3%          
Banque Cantonale Vaudoise, Registered   41,653   $4,201,846 
           
Building Products — 1.3%          
Geberit AG, Registered   30,718    16,297,368 
           
Capital Markets — 6.5%          
Julius Baer Group Ltd.   195,058    11,979,227 
Partners Group Holding AG   19,599    17,718,225 
UBS Group AG, Registered   2,563,184    48,867,945 
         78,565,397 
Chemicals — 5.7%          
Clariant AG, Registered   288,310    4,156,018 
EMS-Chemie Holding AG, Registered   7,773    6,026,445 
Givaudan SA, Registered   7,730    25,477,938 
Sika AG, Registered   120,330    32,924,818 
         68,585,219 
Construction Materials — 2.4%          
Holcim AG   460,570    28,455,809 
           
Containers & Packaging — 0.7%          
SIG Group AG   304,155    8,318,794 
           
Diversified Telecommunication Services — 1.2% 
Swisscom AG, Registered   22,979    14,557,115 
           
Electric Utilities — 0.4%          
BKW AG   26,471    4,759,101 
           
Electrical Equipment — 3.8%          
ABB Ltd., Registered   1,273,411    46,514,050 
           
Food Products — 22.2%          
Barry Callebaut AG, Registered   3,632    7,350,964 
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS   952    11,408,197 
Chocoladefabriken Lindt & Spruengli AG, Registered   99    11,980,607 
Nestle SA, Registered   2,003,998    237,546,349 
         268,286,117 
Health Care Equipment & Supplies — 4.9% 
Alcon Inc.   412,116    32,073,598 
Sonova Holding AG, Registered   47,264    12,138,605 
Straumann Holding AG   99,004    14,545,541 
         58,757,744 
Insurance — 9.0%          
Baloise Holding AG, Registered   47,227    7,260,545 
Helvetia Holding AG, Registered   41,708    5,921,323 
Swiss Life Holding AG, Registered   27,084    15,669,989 
Swiss Re AG   252,905    25,353,005 
Zurich Insurance Group AG   116,993    54,773,997 
         108,978,859 
Life Sciences Tools & Services — 3.5%          
Bachem Holding AG, Class A   43,932    4,626,239 
Lonza Group AG, Registered   60,882    38,185,512 
         42,811,751 
Security  Shares   Value 
         
Machinery — 2.0%          
Schindler Holding AG, Participation Certificates, NVS   40,191   $8,352,939 
Schindler Holding AG, Registered   27,062    5,443,997 
VAT Group AG(a)   26,073    10,778,382 
         24,575,318 
Marine Transportation — 1.1%          
Kuehne + Nagel International AG, Registered   48,644    13,867,971 
           
Pharmaceuticals — 24.5%          
Novartis AG, Registered   1,422,494    136,341,378 
Roche Holding AG, NVS   493,653    157,232,855 
Roche Holding AG, Bearer   6,689    2,264,354 
         295,838,587 
Professional Services — 1.5%          
Adecco Group AG, Registered   181,975    5,437,662 
SGS SA   140,437    12,464,710 
         17,902,372 
Real Estate Management & Development — 0.6% 
Swiss Prime Site AG, Registered   81,056    6,855,646 
           
Software — 0.5%          
Temenos AG, Registered   71,267    6,027,732 
           
Specialty Retail — 0.4%          
Dufry AG, Registered(b)   115,761    5,232,918 
           
Technology Hardware, Storage & Peripherals — 0.9% 
Logitech International SA, Registered   161,646    10,339,499 
           
Textiles, Apparel & Luxury Goods — 5.5%          
Cie. Financiere Richemont SA, Class A, Registered   336,180    53,525,052 
Swatch Group AG (The), Bearer   28,328    8,442,448 
Swatch Group AG (The), Registered   72,283    4,062,683 
         66,030,183 
Total Long-Term Investments — 98.9%          
(Cost: $1,141,919,865)        1,195,759,396 

 

Short-Term Securities

 

Money Market Funds — 0.1%        
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.07%(c)(d)   540,000    540,000 
           
Total Short-Term Securities — 0.1%          
(Cost: $540,000)        540,000 
           
Total Investments — 99.0%          
(Cost: $1,142,459,865)        1,196,299,396 
          
Other Assets Less Liabilities — 1.0%        12,232,019 
           
Net Assets — 100.0%       $1,208,531,415 

 

(a)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.

(b)Non-income producing security.

(c)Affiliate of the Fund.

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

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Schedule of Investments (unaudited) (continued) iShares® MSCI Switzerland 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(a)  $—   $1,655(b)  $—   $(1,655)  $—   $—   —   $20,037(c)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   50,000    490,000(b)   —    —    —    540,000   540,000    10,574    — 
                  $(1,655)  $—   $540,000       $30,611   $— 

 

(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

 

Futures Contracts

 

Description  Number of
Contracts		   Expiration
Date		  Notional
Amount
(000)		   Value/
Unrealized
Appreciation
(Depreciation)		 
Long Contracts                  
Euro STOXX 50 Index   296   06/16/23  $13,386   $(270,945)

 

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  $—   $1,195,759,396   $—   $1,195,759,396 
Short-Term Securities                    
Money Market Funds   540,000    —    —    540,000 
   $540,000   $1,195,759,396   $—   $1,196,299,396 

 

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

 

Fair Value Hierarchy as of Period End (continued)

 

   Level 1   Level 2   Level 3   Total 
Derivative Financial Instruments(a)                    
Liabilities                    
Equity Contracts  $—   $(270,945)  $—   $(270,945)

 

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

 

Portfolio Abbreviation

 

NVSNon-Voting Shares

 

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