NPORT-EX 2 NPORT_0BI8_33416457_0523.htm

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

 

Security  Shares  

Value

 
         

Common Stocks 

          
           
Industrial REITs — 7.2%          
CapitaLand Ascendas REIT   10,324,194   $20,605,436 
Mapletree Logistics Trust   12,010,313    14,732,248 
         35,337,684 
Aerospace & Defense — 3.1%          
Singapore Technologies Engineering Ltd.   5,587,400    15,121,646 
           
Passenger Airlines — 4.2%          
Singapore Airlines Ltd.   4,332,567    20,528,691 
           
Banks — 37.3%          
DBS Group Holdings Ltd.   3,528,000    78,992,170 
Oversea-Chinese Banking Corp. Ltd.   6,236,250    56,532,010 
United Overseas Bank Ltd.   2,236,900    46,216,286 
         181,740,466 
Capital Markets — 3.7%          
Singapore Exchange Ltd.   2,647,200    18,153,236 
           
Diversified Telecommunication Services — 4.5%          
Singapore Telecommunications Ltd.   11,831,868    21,764,600 
           
Electronic Equipment, Instruments & Components — 2.4%          
Venture Corp. Ltd.(a)   1,032,700    11,585,816 
           
Entertainment — 7.0%          
Sea Ltd., ADR(a)(b)   591,622    33,965,019 
           
Food Products — 3.6%          
Wilmar International Ltd.   6,142,600    17,764,951 
           
Hotels, Restaurants & Leisure — 3.2%          
Genting Singapore Ltd.   21,128,342    15,774,105 
           
Industrial Conglomerates — 6.0%          
Jardine Cycle & Carriage Ltd.   395,600    9,455,987 
Keppel Corp. Ltd.   4,225,200    19,702,789 
         29,158,776 
Retail REITs — 4.9%          
CapitaLand Integrated Commercial Trust   8,401,294    12,426,211 
Security  Shares   Value 
         
Retail REITs (continued)          
Mapletree Pan Asia Commercial Trust   9,434,100   $11,511,381 
         23,937,592 
Machinery — 2.6%          
Seatrium Ltd.(b)   140,371,215    12,754,235 
           
Real Estate Management & Development — 6.1%          
Capitaland Investment Ltd/Singapore   3,922,200    9,599,047 
City Developments Ltd.   2,013,600    10,047,519 
UOL Group Ltd.   2,126,400    9,987,070 
         29,633,636 
Ground Transportation — 3.6%          
Grab Holdings Ltd., Class A(b)   5,855,891    17,450,555 
           
Total Long-Term Investments — 99.4%          
(Cost: $519,322,888)        484,671,008 
         
Short-Term Securities          
           
Money Market Funds — 3.5%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.29%(c)(d)(e)   17,092,240    17,095,658 
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.07%(c)(d)   310,000    310,000 
           
Total Short-Term Securities — 3.5%          
(Cost: $17,406,914)        17,405,658 
           
Total Investments — 102.9%          
(Cost: $536,729,802)        502,076,666 
           
Liabilities in Excess of Other Assets — (2.9)%        (14,383,322)
           
Net Assets — 100.0%       $487,693,344 

 

(a)All or a portion of this security is on loan.

(b)Non-income producing security.

(c)Affiliate of the Fund.

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

(e)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 08/31/22   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  $52,770,952   $—   $(35,668,023)(a)  $12,538   $(19,809)  $17,095,658    17,092,240   $85,596(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   180,000    130,000(a)   —    —    —    310,000    310,000    9,768    — 
                  $12,538   $(19,809)  $17,405,658        $95,364   $— 

 

(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.

 

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

 

Derivative Financial Instruments Outstanding as of Period End

 

Futures Contracts

 

               Value/ 
           Notional   Unrealized 
   Number of   Expiration   Amount   Appreciation 
Description   Contracts    Date    (000)   (Depreciation) 
Long Contracts                    
MSCI Singapore Index   101    06/28/23   $2,123   $(46,850)

 

OTC Total Return Swaps

 

Reference Entity  Payment Frequency  Counterparty(a)  Termination
Date		  Net Notional   Accrued
Unrealized
Appreciation
(Depreciation)		   Net Value
of Reference
Entity		   Gross
Notional
Amount Net
Asset Percentage		 
Equity Securities Long  Monthly  Goldman Sachs Bank USA(b)  08/19/26  $214,235   $2,067(c)  $ 213,955    0.0%(d)
   Monthly  HSBC Bank PLC(e)  02/10/28   348,682    (3,881)(f)   345,030    0.1 
                 $(1,814)  $558,985      

 

(a)The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions.

(c)Amount includes $2,347 of net dividends and financing fees.

(d)Rounds to less than 0.1%.

(f)Amount includes $(229) of net dividends, payable for referenced securities purchased and financing fees.

The following are the specified benchmarks (plus or minus a range) used in determining the variable rate of interest:

  (b) (e)
Range: 0 basis points 55 basis points
Benchmarks: SGD - Overnight Rate Average (SORA) SGD - Overnight Rate Average (SORA)

 

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

  

The following table represents the individual long positions and related values of equity securities underlying the total return swap with Goldman Sachs Bank USA as of period end, termination date August 19, 2026.

 

   Shares   Value   % of
Basket
Value		 
                
Reference Entity — Long               
                
Common Stocks               
Capital Markets               
Singapore Exchange Ltd.   31,200   $213,955    100.0%
                
Net Value of Reference Entity — Goldman Sachs Bank USA   $213,955      

The following table represents the individual long positions and related values of equity securities underlying the total return swap with HSBC Bank PLC as of period end, termination date February 10, 2028.

 

   Shares   Value   % of
Basket
Value		 
                
Reference Entity — Long               
                
Common Stocks               
Capital Markets               
Singapore Exchange Ltd.   50,200   $345,030    100.0%
                
Net Value of Reference Entity — HSBC Bank PLC   $345,030      


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  $51,415,574   $433,255,434   $—   $484,671,008 
Short-Term Securities                    
Money Market Funds   17,405,658    —    —    17,405,658 
   $68,821,232   $433,255,434   $—   $502,076,666 
Derivative Financial Instruments(a)                    
Assets                    
Equity Contracts  $—   $2,067   $—   $2,067 
Liabilities                    
Equity Contracts   —    (50,731)   —    (50,731)
   $—   $(48,664)  $—    (48,664)

 

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

 

Portfolio Abbreviation

 

ADR American Depositary Receipt

  

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