NPORT-EX 2 NPORT_2QWB_74006324_0723.htm

 

Schedule of Investments (unaudited) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Corporate Bonds & Notes          
           
Argentina — 0.7%          
MSU Energy SA/UGEN SA/UENSA SA, 6.88%, 02/01/25 (Call 08/30/23)(a)  $300   $218,445 
Pampa Energia SA, 7.50%, 01/24/27 (Call 08/30/23)(a)   250    238,650 
Transportadora de Gas del Sur SA, 6.75%, 05/02/25(a)   300    284,334 
YPF SA          
6.95%, 07/21/27(a)   400    335,920 
7.00%, 12/15/47 (Call 06/15/47)(a)   250    174,781 
8.50%, 07/28/25(a)   600    563,400 
YPF Sociedad Anonima          
7.00%, 09/30/33   300    232,731 
9.00%, 02/12/26   296    293,435 
         2,341,696 
Azerbaijan — 0.5%          
International Bank of Azerbaijan OJSC, 3.50%, 09/01/24(a)   550    518,667 
Southern Gas Corridor CJSC, 6.88%, 03/24/26(a)   1,000    1,015,190 
         1,533,857 
Bahrain — 0.3%          
AUB Sukuk Ltd., 2.62%, 09/09/26(a)   200    181,360 
GFH Sukuk Ltd., 7.50%, 01/28/25(a)   200    197,812 
Oil and Gas Holding Co. BSCC (The), 7.50%, 10/25/27(a)   600    610,218 
         989,390 
Brazil — 7.8%          
Acu Petroleo Luxembourg Sarl, 7.50%, 07/13/35 (Call 01/13/27)(a)   245    218,452 
Adecoagro SA, 6.00%, 09/21/27   200    189,776 
Aegea Finance Sarl, 6.75%, 05/20/29 (Call 05/20/25)(a)   200    188,072 
Altice Financing SA, 5.00%, 01/15/28 (Call 08/30/23)(a)(b)   500    388,100 
Amaggi Luxembourg International Sarl, 5.25%, 01/28/28   400    369,850 
Atento Luxco 1 SA, 8.00%, 02/10/26   300    3,591 
Azul Secured Finance LLP          
10.88%, 05/28/30(c)   200    167,000 
11.93%, 08/28/28   200    200,250 
B3 SA - Brasil Bolsa Balcao, 4.13%, 09/20/31(a)   400    339,800 
Banco Bradesco SA/Cayman Islands          
3.20%, 01/27/25(a)   400    381,750 
4.38%, 03/18/27(a)(b)   200    189,798 
Banco BTG Pactual SA/Cayman Islands          
2.75%, 01/11/26 (Call 12/11/25)(a)(b)   200    182,390 
4.50%, 01/10/25 (Call 12/10/24)(a)   600    580,440 
7.75%, 02/15/29 (Call 02/15/24),          
(5-year CMT + 5.257%)(a)(d)   200    200,086 
Banco do Brasil SA, 6.25%, 04/18/30   200    199,175 
Banco do Brasil SA/Cayman          
3.25%, 09/30/26(a)   400    367,280 
4.88%, 01/11/29(a)   200    189,055 
6.25%, (Call 04/15/24),          
(10-year CMT + 4.398%)(a)(b)(d)(e)   1,000    916,250 
9.00%, (Call 06/18/24),          
(10-year CMT + 6.362%)(a)(b)(d)(e)   1,000    1,009,850 
Banco Votorantim SA, 4.38%, 07/29/25(a)   200    192,092 
Braskem Netherlands Finance BV, 8.50%, 01/23/81 (Call 10/24/25), (5-year CMT + 8.220%)(a)(d)   200    200,965 
BRF SA          
4.88%, 01/24/30 (Call 10/24/29)(a)   400    332,320 
5.75%, 09/21/50 (Call 03/21/50)(a)   400    281,000 
Cemig Geracao e Transmissao SA, 9.25%, 12/05/24 (Call 12/05/23)(a)   400    401,176 
Security  Par
(000)		   Value 
         
Brazil (continued)          
Centrais Eletricas Brasileiras SA          
3.63%, 02/04/25(a)  $200   $190,580 
4.63%, 02/04/30(a)   400    346,748 
Cosan Luxembourg SA, 7.50%, 06/27/30(c)   200    200,720 
Cosan Overseas Ltd., 8.25%, (Call 11/05/23)(a)(e)   200    199,092 
Cosan SA, 5.50%, 09/20/29(a)   400    372,008 
CSN Inova Ventures, 6.75%, 01/28/28 (Call 01/28/24)(a)   600    567,654 
CSN Resources SA          
4.63%, 06/10/31 (Call 06/10/26)(a)   600    472,308 
5.88%, 04/08/32(a)   200    165,500 
Embraer Netherlands Finance BV          
5.40%, 02/01/27(b)   300    294,057 
6.95%, 01/17/28 (Call 10/17/27)(a)   400    404,656 
FS Luxembourg Sarl, 10.00%, 12/15/25   200    205,636 
Globo Comunicacao e Participacoes SA, 4.88%, 01/22/30(a)   200    167,154 
Guara Norte Sarl, 5.20%, 06/15/34   354    315,018 
Itau Unibanco Holding SA/Cayman Island          
3.25%, 01/24/25(a)   200    191,540 
3.88%, 04/15/31 (Call 01/15/26),          
(5-year CMT + 3.446%)(a)(b)(d)   400    366,592 
4.50%, 11/21/29 (Call 11/21/24),          
(5-year CMT + 2.822%)(a)(d)   400    385,800 
4.63%, (Call 02/27/25), (5-year CMT + 3.222%)(a)(d)(e)   200    159,250 
7.72%, (Call 12/12/23), (5-year CMT + 3.981%)(a)(d)(e)   600    580,500 
7.86%, , (5-year CMT + 3.863%)(a)(e)   400    390,050 
Klabin Austria GmbH          
3.20%, 01/12/31 (Call 10/12/30)(a)   200    161,254 
5.75%, 04/03/29 (Call 01/03/29)(a)   400    391,800 
7.00%, 04/03/49 (Call 10/03/48)(a)   400    393,528 
MARB BondCo PLC, 3.95%, 01/29/31 (Call 01/29/26)(a)   600    440,700 
MC Brazil Downstream Trading SARL, 7.25%, 06/30/31(a)   773    497,619 
MercadoLibre Inc., 3.13%, 01/14/31 (Call 10/14/30)   400    319,048 
Minerva Luxembourg SA, 4.38%, 03/18/31(a)   600    486,705 
Natura &Co. Luxembourg Holdings Sarl, 6.00%, 04/19/29 (Call 02/19/29)(a)   400    377,400 
Natura Cosmeticos SA, 4.13%, 05/03/28 (Call 03/03/28)(a)   400    350,700 
NBM U.S. Holdings Inc., 7.00%, 05/14/26 (Call 08/30/23)(a)(b)   400    391,000 
Nexa Resources SA          
5.38%, 05/04/27 (Call 02/04/27)(a)   400    375,152 
6.50%, 01/18/28 (Call 10/18/27)(a)   200    193,914 
Petrobras Global Finance BV          
5.09%, 01/15/30(b)   250    233,040 
5.30%, 01/27/25   350    345,971 
5.50%, 06/10/51 (Call 12/10/50)   350    276,055 
5.60%, 01/03/31 (Call 10/03/30)(b)   575    550,160 
6.00%, 01/27/28(b)   626    621,900 
6.50%, 07/03/33   600    588,750 
6.75%, 01/27/41(b)   300    287,802 
6.85%, 06/05/2115(b)   850    748,008 
6.88%, 01/20/40(b)   350    341,782 
6.90%, 03/19/49(b)   400    373,800 
7.25%, 03/17/44(b)   416    415,572 
7.38%, 01/17/27(b)   300    310,980 
Petrorio Luxembourg Trading Sarl, 6.13%, 06/09/26(a)   400    388,192 
Rede D’or Finance Sarl          
4.50%, 01/22/30 (Call 10/22/29)(a)   300    259,113 
4.95%, 01/17/28 (Call 10/17/27)(a)   400    368,656 

1

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Brazil (continued)          
Rumo Luxembourg Sarl          
4.20%, 01/18/32  $200   $160,250 
5.25%, 01/10/28(a)   200    187,800 
Simpar Europe SA, 5.20%, 01/26/31(a)   400    322,550 
StoneCo Ltd., 3.95%, 06/16/28 (Call 05/16/28)(a)   300    237,798 
Unigel Luxembourg SA, 8.75%, 10/01/26 (Call 08/30/23)(a)   200    64,874 
Usiminas International Sarl, 5.88%, 07/18/26 (Call 08/30/23)(a)   400    389,400 
XP Inc., 3.25%, 07/01/26(a)   400    356,370 
         25,871,024 
Burkina Faso — 0.1%          
Endeavour Mining PLC, 5.00%, 10/14/26(a)   200    181,002 
           
Cayman Islands — 0.0%          
Odebrecht Holdco Finance Ltd., 0.00%, 09/10/58 (Call 08/30/23)(a)(f)   900    3,600 
           
Chile — 0.2%          
AES Andes SA., 7.13%, 03/26/79 (Call 04/07/24),          
(5-year USD Swap + 4.644%)(a)(d)   200    191,340 
Agrosuper SA, 4.60%, 01/20/32 (Call 10/20/31)(a)   200    167,896 
Latam Airlines Group SA, 13.38%, 10/15/29 (Call 10/15/25)(a)   400    435,250 
         794,486 
China — 3.9%          
Agile Group Holdings Ltd., 7.88%, (Call 07/31/24),          
(5-year CMT + 11.294%)(a)(d)(e)   600    51,660 
Bank of Communications Co. Ltd., 3.80%, (Call 11/18/25), (5-year CMT + 3.345%)(a)(d)(e)   1,500    1,440,000 
Central Plaza Development Ltd., 5.75%, (Call 11/14/24), (5-year CMT + 8.066%)(a)(d)(e)   400    341,904 
China SCE Group Holdings Ltd., 7.00%, 05/02/25 (Call 08/30/23)(a)   200    24,494 
China Shenhua Overseas Capital Co. Ltd., 3.88%, 01/20/25(a)   200    194,168 
Country Garden Holdings Co. Ltd.          
2.70%, 07/12/26 (Call 06/12/26)(a)   400    66,000 
3.13%, 10/22/25 (Call 09/22/25)(a)   400    78,000 
3.30%, 01/12/31 (Call 10/12/30)(a)   400    55,920 
3.88%, 10/22/30 (Call 07/22/30)(a)   400    55,392 
5.13%, 01/17/25 (Call 08/30/23)(a)   400    86,700 
5.13%, 01/14/27 (Call 01/14/24)(a)   200    31,052 
5.40%, 05/27/25 (Call 08/30/23)(a)   200    40,875 
6.15%, 09/17/25 (Call 09/17/23)(a)   400    81,112 
7.25%, 04/08/26 (Call 08/30/23)(a)   1,000    172,500 
Ease Trade Global Ltd., 4.00%, 11/10/25(a)   200    186,162 
Easy Tactic Ltd.          
7.50%, 07/11/25 (Call 08/30/23), (7.50% PIK)(g)   646    48,781 
7.50%, 07/11/27 (Call 08/30/23), (7.50% PIK)(g)   1,260    85,064 
7.50%, 07/11/28 (Call 08/30/23), (7.50% PIK)(g)   754    45,209 
Emirates NBD Bank PJSC, 6.13%, (Call 04/09/26)(a)(d)(e)   400    396,692 
ENN Clean Energy International Investment Ltd., 3.38%, 05/12/26 (Call 05/12/24)(a)   400    368,916 
Fortune Star BVI Ltd.          
5.00%, 05/18/26 (Call 05/18/24)(a)   200    154,668 
5.05%, 01/27/27 (Call 01/27/25)(a)   200    143,800 
5.95%, 10/19/25 (Call 10/19/23)(a)   400    336,896 
Franshion Brilliant Ltd., 6.00%, (Call 02/08/26),          
(5-year CMT + 5.584%)(a)(d)(e)   200    177,498 
Security  Par
(000)		   Value 
         
China (continued)          
Greenland Global Investment Ltd., 5.88%, 07/03/26 (Call 08/10/23)(a)  $200   $24,064 
Guojing Capital BVI Ltd., 6.30%, 12/02/25(a)   200    201,150 
Huarong Finance 2017 Co. Ltd.          
4.25%, 11/07/27(a)   600    509,382 
4.75%, 04/27/27(a)   600    524,406 
Huarong Finance 2019 Co. Ltd.          
3.25%, 11/13/24 (Call 10/13/24)(a)   200    189,316 
3.38%, 02/24/30 (Call 11/28/29)(a)   600    466,422 
Industrial & Commercial Bank of China Ltd., 3.20%, (Call 09/24/26), (5-year CMT + 2.368%)(a)(d)(e)   3,100    2,889,603 
Lenovo Group Ltd., 5.88%, 04/24/25(a)   600    597,396 
Leviathan Bond Ltd.          
6.13%, 06/30/25 (Call 03/30/25)(a)(c)   275    269,577 
6.75%, 06/30/30 (Call 12/30/29)(a)(c)   250    234,158 
Melco Resorts Finance Ltd., 5.25%, 04/26/26 (Call 08/30/23)(a)   300    281,379 
NWD MTN Ltd., 4.13%, 07/18/29(a)   400    324,176 
RKPF Overseas 2020 A Ltd.          
5.13%, 07/26/26 (Call 07/26/24)(a)   200    80,880 
5.20%, 01/12/26 (Call 01/12/24)(a)   200    91,456 
Seaspan Corp., 5.50%, 08/01/29 (Call 08/01/24)(a)   400    319,658 
Sino-Ocean Land Treasure Finance II Ltd., 5.95%, 02/04/27(a)   200    16,000 
Sino-Ocean Land Treasure III Ltd., 6.95%, (Call 09/21/27),          
(5-year CMT + 3.256%)(a)(d)(e)   400    5,104 
Sino-Ocean Land Treasure IV Ltd.          
2.70%, 01/13/25 (Call 12/13/24)(a)   200    23,622 
4.75%, 08/05/29 (Call 05/05/29)(a)   400    32,000 
Turkiye Vakiflar Bankasi TAO, 5.25%, 02/05/25(a)   400    380,372 
West China Cement Ltd., 4.95%, 07/08/26 (Call 07/08/24)(a)   400    301,420 
Wheelock MTN BVI Ltd., 2.38%, 01/25/26(a)   200    184,606 
Yanlord Land HK Co. Ltd., 5.13%, 05/20/26 (Call 05/20/24)(a)   400    284,000 
         12,893,610 
Colombia — 3.4%          
ABRA Global Finance, 11.50%, 03/02/28.   507    423,521 
AI Candelaria Spain SLU, 5.75%, 06/15/33(a)   400    302,930 
Avianca Midco 2 Ltd., 9.00%, 12/01/28 (Call 12/01/24)(a)   850    739,500 
Banco Davivienda SA, 6.65%, ,          
(10-year CMT + 5.097%)(a)(e)   200    156,140 
Banco de Bogota SA, 6.25%, 05/12/26(a)   600    583,560 
Bancolombia SA          
3.00%, 01/29/25 (Call 12/29/24)   600    572,424 
4.63%, 12/18/29 (Call 12/18/24),          
(5-year CMT + 2.944%)(d)   200    175,074 
6.91%, 10/18/27, (5-year CMT + 2.929%)(b)(d)   400    389,720 
Canacol Energy Ltd., 5.75%, 11/24/28 (Call 11/24/24)(a)   200    174,162 
Colombia Telecomunicaciones SA ESP, 4.95%, 07/17/30(a)   200    154,706 
Ecopetrol SA          
4.13%, 01/16/25   560    538,860 
4.63%, 11/02/31 (Call 08/02/31)(b)   600    475,425 
5.38%, 06/26/26 (Call 03/26/26)(b)   750    718,594 
5.88%, 05/28/45   990    707,850 
5.88%, 11/02/51 (Call 05/02/51)(b)   405    277,911 
6.88%, 04/29/30 (Call 01/29/30)   950    891,148 
7.38%, 09/18/43(b)   400    346,680 
8.63%, 01/19/29 (Call 12/19/28)   400    411,300 

2

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Colombia (continued)          
8.88%, 01/13/33 (Call 10/13/32)  $1,200   $1,225,950 
EnfraGen Energia Sur SA, 5.38%, 12/30/30   400    263,600 
Geopark Ltd., 5.50%, 01/17/27 (Call 01/17/24)(a)   200    171,450 
Grupo Aval Ltd., 4.38%, 02/04/30 (Call 11/04/29)(a)   600    484,278 
Grupo de Inversiones Suramericana SA, 5.50%, 04/29/26   200    189,320 
Millicom International Cellular SA          
4.50%, 04/27/31 (Call 04/27/26)(a)(b)   400    318,352 
6.25%, 03/25/29 (Call 03/25/24)(a)   360    327,600 
Sierracol Energy Andina Co., 6.00%, 06/15/28 (Call 06/15/24)(a)   200    157,400 
         11,177,455 
Czech Republic — 0.1%          
Allwyn Entertainment Financing U.K. PLC, 7.88%, 04/30/29   400    407,588 
           
Egypt — 0.3%          
Banco do Brasil SA/Cayman, 4.63%, 01/15/25   600    585,300 
YPF SA, 9.00%, 06/30/29   400    379,908 
         965,208 
Ghana — 0.4%          
Kosmos Energy Ltd., 7.13%, 04/04/26 (Call 08/10/23)(a)   400    372,948 
Tullow Oil PLC          
7.00%, 03/01/25 (Call 08/30/23)(a)   200    127,024 
10.25%, 05/15/26 (Call 08/10/23)(a)   860    700,074 
         1,200,046 
Guatemala — 0.3%          
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL, 5.25%, 04/27/29 (Call 04/27/26)(a)   500    461,855 
CT Trust, 5.13%, 02/03/32 (Call 02/03/27)(a)   400    330,648 
Investment Energy Resources Ltd., 6.25%, 04/26/29 (Call 04/26/25)(a)   400    374,292 
         1,166,795 
Hong Kong — 3.1%          
Adani Green Energy Ltd., 4.38%, 09/08/24(a)   400    374,032 
Bank of Communications Hong Kong Ltd., 3.73%, (Call 03/03/25), (5-year CMT + 2.525%)(a)(d)(e)   250    240,870 
Bank of East Asia Ltd. (The)          
5.83%, (Call 10/21/25), (5-year CMT + 5.527%)(a)(d)(e)   250    219,160 
5.88%, (Call 09/19/24), (5-year CMT + 4.257%)(a)(d)(e)   250    230,625 
CAS Capital No. 1 Ltd., 4.00%, (Call 07/12/26),          
(5-year CMT + 3.642%)(a)(d)(e)   400    331,284 
Cathay Pacific MTN Financing HK Ltd., 4.88%, 08/17/26(a)   400    383,900 
Celestial Miles Ltd., 5.75%, (Call 01/31/24),          
(5-year CMT + 8.205%)(a)(d)(e)   600    590,532 
China Citic Bank, 3.25%, (Call 07/29/26),          
(5-year CMT + 2.530%)(a)(d)(e)   250    230,525 
China CITIC Bank International Ltd.          
4.80%, (Call 04/22/27), (5-year CMT + 2.104%)(a)(d)(e)   250    240,010 
7.10%, (Call 11/06/23), (5-year CMT + 4.151%)(a)(d)(e)   400    399,948 
FWD Group Ltd.          
6.38%, (Call 09/13/24), (5-year CMT + 4.876%)(a)(d)(e)   400    354,780 
8.05%, (Call 12/15/23), (5-year CMT + 4.865%)(a)(d)(e)   400    366,596 
Henderson Land MTN Ltd., 2.38%, 05/27/25(a)   200    187,206 
Lai Sun MTN Ltd., 5.00%, 07/28/26(a)   200    139,468 
Li & Fung Ltd.          
5.00%, 08/18/25 (Call 07/18/25)(a)   200    186,174 
5.25%, (Call 11/03/23)(a)(e)   400    189,580 
Security  Par
(000)		   Value 
         
Hong Kong (continued)          
Melco Resorts Finance Ltd.          
4.88%, 06/06/25 (Call 08/30/23)(a)  $400   $381,840 
5.38%, 12/04/29 (Call 12/04/24)(a)   600    508,470 
5.63%, 07/17/27 (Call 08/30/23)(a)(b)   400    361,300 
5.75%, 07/21/28 (Call 08/30/23)(a)   400    357,500 
Nanyang Commercial Bank Ltd., 6.50%, (Call 04/28/27),          
(5-year CMT + 3.509%)(a)(d)(e)   250    243,420 
New World China Land Ltd., 4.75%, 01/23/27(a)   200    180,718 
NWD Finance BVI Ltd.          
4.13%, (Call 03/10/28), (5-year CMT + 5.858%)(a)(d)(e)   600    404,034 
4.80%, (Call 09/09/23)(a)(e)   400    220,704 
5.25%, (Call 03/22/26), (5-year CMT + 7.889%)(a)(d)(e)   600    506,250 
6.25%, (Call 03/07/24)(a)(e)   600    409,350 
NWD MTN Ltd., 4.50%, 05/19/30(a)   400    323,548 
PCPD Capital Ltd., 5.13%, 06/18/26 (Call 06/18/24)(a)   400    319,496 
Sands China Ltd.          
4.30%, 01/08/26 (Call 12/08/25)   400    379,300 
5.63%, 08/08/25 (Call 06/08/25)   1,000    981,695 
         10,242,315 
Hungary — 0.1%          
OTP Bank Nyrt, 8.75%, 05/15/33 (Call 02/15/28),          
(5-year CMT + 5.060%)(a)(d)   400    399,608 
           
India — 1.9%          
Adani Green Energy UP Ltd./Prayatna Developers Pvt Ltd./Parampujya Solar Energy, 6.25%, 12/10/24(a)   200    190,890 
Axis Bank Ltd., 4.10%, (Call 09/08/26),          
(5-year CMT + 3.315%)(a)(d)(e)   200    175,156 
CA Magnum Holdings, 5.38%, 10/31/26 (Call 10/31/23)(a)   400    367,000 
Continuum Energy Levanter Pte Ltd., 4.50%, 02/09/27 (Call 02/09/24)(a)   186    172,515 
Delhi International Airport Ltd.          
6.13%, 10/31/26(a)   400    391,540 
6.45%, 06/04/29(a)   200    188,560 
Greenko Dutch BV, 3.85%, 03/29/26 (Call 08/30/23)(a)   564    512,586 
Greenko Power II Ltd., 4.30%, 12/13/28(a)   557    488,635 
Greenko Solar Mauritius Ltd.          
5.55%, 01/29/25   200    193,752 
5.95%, 07/29/26 (Call 08/30/23)(a)   200    188,962 
Greenko Wind Projects Mauritius Ltd., 5.50%, 04/06/25 (Call 04/06/24)(a)   400    386,100 
HDFC Bank Ltd., 3.70%, (Call 08/25/26),          
(5-year CMT + 2.925%)(a)(d)(e)   600    522,786 
JSW Hydro Energy Ltd., 4.13%, 05/18/31 (Call 05/18/26)(a)   336    283,402 
JSW Steel Ltd.          
3.95%, 04/05/27 (Call 10/05/26)(a)   200    177,692 
5.05%, 04/05/32 (Call 10/05/31)(a)   200    162,496 
Network i2i Ltd.          
3.98%, (e)   200    180,768 
5.65%, (Call 01/15/25), (5-year CMT + 4.274%)(a)(d)(e)   600    583,650 
Periama Holdings LLC/DE, 5.95%, 04/19/26(a)   400    383,280 
ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries, 4.50%, 07/14/28 (Call 10/14/23)(a)   200    170,616 
Vedanta Resources Finance II PLC          
8.95%, 03/11/25 (Call 09/11/24)(a)   600    394,590 
9.25%, 04/23/26 (Call 08/30/23)(a)(b)   400    244,000 
         6,358,976 
Indonesia — 0.6%          
Adaro Indonesia PT, 4.25%, 10/31/24 (Call 08/31/23)(a)   250    239,958 

3

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Indonesia (continued)          
Bank Negara Indonesia Persero Tbk PT          
3.75%, 03/30/26(a)  $600   $555,282 
4.30%, (Call 03/24/27), (5-year CMT + 3.466%)(a)(d)(e)   200    166,298 
Indika Energy Capital IV Pte Ltd., 8.25%, 10/22/25 (Call 08/31/23)(a)   350    347,805 
Medco Bell Pte Ltd., 6.38%, 01/30/27 (Call 01/30/24)(a)   400    375,824 
Medco Oak Tree Pte Ltd., 7.38%, 05/14/26 (Call 08/31/23)(a)   200    196,924 
         1,882,091 
Israel — 1.6%          
Energian Israel Finance Ltd.          
5.88%, 03/30/31 (Call 09/30/30)(a)(c)   300    261,861 
8.50%, 09/30/33(c)   370    371,295 
Teva Pharmaceutical Finance Co. LLC, 6.15%, 02/01/36(b)   500    452,200 
Teva Pharmaceutical Finance Netherlands III BV          
3.15%, 10/01/26(b)   1,600    1,438,576 
4.10%, 10/01/46   900    584,379 
4.75%, 05/09/27 (Call 02/09/27)   500    463,270 
5.13%, 05/09/29 (Call 02/09/29)(b)   400    364,996 
6.75%, 03/01/28 (Call 12/01/27)(b)   600    591,750 
7.88%, 09/15/29 (Call 06/15/29)(b)   300    310,956 
8.13%, 09/15/31 (Call 06/15/31)   300    316,641 
         5,155,924 
Kazakhstan — 0.3%          
Energian Israel Finance Ltd., 5.38%, 03/30/28 (Call 09/30/27)(a)(c)   325    294,447 
Tengizchevroil Finance Co. International Ltd.          
2.63%, 08/15/25 (Call 05/15/25)(a)   200    181,782 
3.25%, 08/15/30 (Call 02/15/30)(a)   400    306,000 
4.00%, 08/15/26(a)   400    361,908 
         1,144,137 
Kuwait — 0.3%          
Burgan Bank SAK, 5.75%, (Call 07/09/24),          
(5-year CMT + 4.007%)(a)(d)(e)   200    180,272 
Kuwait Projects Co. SPC Ltd.          
4.23%, 10/29/26(a)   400    345,544 
4.50%, 02/23/27(a)   200    168,014 
Leviathan Bond Ltd., 6.50%, 06/30/27 (Call 12/30/26)(a)(c)   350    337,222 
         1,031,052 
Luxembourg — 0.2%          
Altice Financing SA, 5.75%, 08/15/29   1,000    743,750 
           
Macau — 1.8%          
Champion Path Holdings Ltd.          
4.50%, 01/27/26 (Call 01/27/24)(a)   200    179,142 
4.85%, 01/27/28 (Call 01/27/25)(a)   200    165,480 
MGM China Holdings Ltd.          
4.75%, 02/01/27 (Call 02/01/24)(a)   200    183,125 
5.25%, 06/18/25 (Call 08/10/23)(a)   400    385,500 
5.88%, 05/15/26 (Call 08/10/23)(a)   400    386,450 
Sands China Ltd.          
2.80%, 03/08/27 (Call 02/08/27)   300    264,360 
3.35%, 03/08/29 (Call 01/08/29)   400    342,750 
3.75%, 08/08/31 (Call 05/08/31)   200    166,750 
4.88%, 06/18/30 (Call 03/18/30)   400    364,500 
5.90%, 08/08/28 (Call 05/08/28)   800    777,000 
Security  Par
(000)		   Value 
         
Macau (continued)          
Studio City Finance Ltd.          
5.00%, 01/15/29 (Call 01/15/24)(a)  $800   $611,000 
6.50%, 01/15/28 (Call 08/30/23)(a)   200    171,500 
Wynn Macau Ltd.          
4.88%, 10/01/24 (Call 08/10/23)(a)   200    194,900 
5.13%, 12/15/29 (Call 12/15/24)(a)   400    335,488 
5.50%, 01/15/26 (Call 08/30/23)(a)   400    374,360 
5.50%, 10/01/27 (Call 08/10/23)(a)   400    361,500 
5.63%, 08/26/28 (Call 08/26/23)(a)   800    712,000 
         5,975,805 
Mexico — 8.1%          
Alsea SAB de CV, 7.75%, 12/14/26(a)   200    199,940 
Banco Mercantil del Norte SA/Grand Cayman          
5.88%, , (5-year CMT + 4.643%)(a)(e)   400    343,000 
6.63%, , (10-year CMT + 5.034%)(a)(e)   200    159,075 
6.75%, (Call 09/27/24),          
(5-year CMT + 4.967%)(a)(b)(d)(e)   300    292,748 
7.50%, (Call 06/27/29), (10-year CMT + 5.470%)(a)(d)(e)   200    179,950 
7.63%, (e)   400    369,496 
8.38%, (Call 10/14/30), (10-year CMT + 7.760%)(a)(d)(e)   200    195,658 
BBVA Bancomer SA, 8.45%, 06/29/38(b)(c)   400    405,600 
BBVA Bancomer SA/Texas          
5.13%, 01/18/33, (5-year CMT + 2.650%)(a)   600    519,516 
5.88%, 09/13/34 (Call 09/13/29),          
(5-year CMT + 4.308%)(a)(d)   350    311,584 
Braskem Idesa SAPI          
6.99%, 02/20/32 (Call 02/20/27)(a)   700    444,514 
7.45%, 11/15/29 (Call 11/15/24)(a)   400    271,100 
Cemex SAB de CV          
3.88%, 07/11/31 (Call 07/11/26)(a)   500    428,750 
5.20%, 09/17/30 (Call 09/17/25)(a)   400    376,250 
5.45%, 11/19/29 (Call 11/19/24)(a)   400    387,164 
9.13%, (Call 03/14/28), (5-year CMT + 4.907%)(a)(d)(e)   500    520,000 
Cemex SAB De CV, 5.13%, (Call 06/08/26),          
(5-year CMT + 4.534%)(a)(d)(e)   500    458,550 
Grupo Aeromexico SAB de CV, 8.50%, 03/17/27(a)   300    269,250 
Nemak SAB de CV, 3.63%, 06/28/31(a)   200    157,922 
Petroleos Mexicanos          
4.50%, 01/23/26   500    445,325 
5.35%, 02/12/28(b)   953    780,983 
5.95%, 01/28/31 (Call 10/28/30)   1,800    1,332,000 
6.35%, 02/12/48(b)   800    494,600 
6.38%, 01/23/45(b)   550    348,288 
6.49%, 01/23/27 (Call 11/23/26)   748    663,663 
6.50%, 03/13/27(b)   1,950    1,726,627 
6.50%, 01/23/29(b)   625    519,219 
6.50%, 06/02/41(b)   800    516,900 
6.63%, 06/15/35(b)   1,400    993,650 
6.70%, 02/16/32 (Call 11/16/31)(b)   3,350    2,579,165 
6.75%, 09/21/47(b)   2,650    1,698,650 
6.84%, 01/23/30 (Call 10/23/29)   1,200    957,312 
6.88%, 08/04/26   1,300    1,205,132 
6.95%, 01/28/60 (Call 07/28/59)(b)   1,900    1,201,750 
7.69%, 01/23/50 (Call 07/23/49)(b)   4,000    2,756,600 
8.75%, 06/02/29 (Call 04/02/29)(b)   1,000    910,150 
10.00%, 02/07/33 (Call 11/07/32)(b)(c)   1,000    925,250 

4

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Mexico (continued)          
Total Play Telecomunicaciones SA de CV          
6.38%, 09/20/28(a)  $200   $114,000 
7.50%, 11/12/25   400    270,492 
         26,729,823 
Moldova — 0.0%          
Aragvi Finance International SR, 8.45%, 04/29/26 (Call 04/29/24)(a)   200    135,250 
           
Morocco — 0.3%          
OCP SA          
4.50%, 10/22/25(a)   400    387,876 
5.13%, 06/23/51 (Call 12/23/50)(a)   400    300,528 
6.88%, 04/25/44(a)   400    374,572 
         1,062,976 
Nigeria — 0.5%          
Access Bank PLC          
6.13%, 09/21/26(a)   200    173,628 
9.13%, (Call 10/07/26), (5-year CMT + 8.070%)(a)(d)(e)   200    165,758 
IHS Holding Ltd.          
5.63%, 11/29/26 (Call 11/29/23)(a)   200    174,230 
6.25%, 11/29/28 (Call 11/29/24)(a)   200    164,600 
IHS Netherlands Holdco BV, 8.00%, 09/18/27 (Call 08/30/23)(a)   600    545,076 
SEPLAT Energy PLC, 7.75%, 04/01/26 (Call 08/30/23)(a)   400    356,348 
         1,579,640 
Oman — 0.2%          
Bank Muscat SAOG, 4.75%, 03/17/26(a)   400    386,848 
Oztel Holdings SPC Ltd., 6.63%, 04/24/28(a)   250    259,050 
         645,898 
Panama — 0.2%          
C&W Senior Financing DAC, 6.88%, 09/15/27 (Call 08/10/23)(a)   600    540,000 
Cable Onda SA, 4.50%, 01/30/30 (Call 01/30/25)(a)   200    170,118 
         710,118 
Paraguay — 0.2%          
Bioceanico Sovereign Certificate Ltd., 0.00%, 06/05/34(a)(f)   445    311,877 
Telefonica Celular del Paraguay SA, 5.88%, 04/15/27(a)   400    377,108 
         688,985 
Peru — 0.6%          
Cia. De Minas Buenaventur Co., 5.50%, 07/23/26 (Call 08/30/23)(a)   400    348,500 
Minsur SA, 4.50%, 10/28/31(a)   200    174,022 
Peru LNG Srl, 5.38%, 03/22/30(a)   400    321,604 
Petroleos del Peru SA          
4.75%, 06/19/32(a)   400    304,600 
5.63%, 06/19/47(a)   1,100    726,880 
         1,875,606 
Philippines — 0.7%          
Globe Telecom Inc., 4.20%, (Call 08/02/26),          
(5-year CMT + 5.527%)(a)(d)(e)   400    371,668 
JGSH Philippines Ltd., 4.13%, 07/09/30(a)   400    362,572 
Manila Water Co. Inc., 4.38%, 07/30/30 (Call 07/30/25)(a)   200    183,950 
Petron Corp., 5.95%, (Call 04/19/26),          
(5-year CMT + 7.574%)(a)(d)(e)   200    181,496 
San Miguel Crop., 5.50%, (Call 07/29/25),          
(5-year CMT + 10.237%)(a)(d)(e)   200    181,570 
Security  Par
(000)		   Value 
         
Philippines (continued)          
SMC Global Power Holdings Corp.          
5.45%, (Call 12/09/26), (5-year CMT + 7.155%)(a)(d)(e)  $400   $285,828 
5.70%, (Call 01/21/26), (5-year CMT + 6.554%)(a)(d)(e)   200    151,598 
6.50%, (Call 04/25/24), (5-year CMT + 6.608%)(a)(d)(e)   400    360,108 
7.00%, (Call 10/21/25), (5-year CMT + 9.199%)(a)(d)(e)   400    343,340 
         2,422,130 
Poland — 0.1%          
Canpack SA/Canpack U.S. LLC, 3.88%, 11/15/29 (Call 11/15/24)(a)   400    325,564 
           
Qatar — 0.1%          
Commercial Bank PSQC (The), 4.50%, (Call 03/03/26),          
(5-year CMT + 3.874%)(a)(d)(e)   400    362,632 
           
Saudi Arabia — 0.4%          
Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26(a)   400    368,152 
Arabian Centres Sukuk Ltd., 5.38%, 11/26/24(a)   200    192,898 
Dar Al-Arkan Sukuk Co. Ltd., 6.75%, 02/15/25(a)   400    392,396 
Riyad Tier 1 Sukuk Ltd., 4.00%, (Call 02/16/27),          
(5-year CMT + 2.170%)(a)(d)(e)   400    370,904 
         1,324,350 
Singapore — 0.3%          
GLP Pte Ltd., 4.50%, (Call 05/17/26),          
(5-year CMT + 3.735%)(a)(d)(e)   400    149,500 
Puma International Financing SA, 5.00%, 01/24/26 (Call 08/10/23)(a)   400    364,248 
Singapore Airlines Ltd.          
3.00%, 07/20/26 (Call 06/20/26)(a)   200    187,101 
3.38%, 01/19/29 (Call 11/19/28)(a)   400    367,572 
         1,068,421 
South Africa — 1.3%          
Absa Group Ltd., 6.38%, (Call 05/27/26),          
(5-year CMT + 5.411%)(a)(d)(e)   200    184,902 
Bidvest Group UK PLC (The), 3.63%, 09/23/26 (Call 09/23/23)(a)   400    359,576 
Eskom Holdings SOC Ltd.          
6.35%, 08/10/28(a)   600    572,214 
7.13%, 02/11/25(a)   460    456,449 
Liquid Telecommunications Financing PLC, 5.50%, 09/04/26 (Call 08/30/23)(a)   200    132,260 
MTN Mauritius Investments Ltd., 6.50%, 10/13/26(a)   200    196,550 
Sasol Financing USA LLC          
4.38%, 09/18/26 (Call 08/18/26)   200    180,836 
5.50%, 03/18/31 (Call 03/18/30)   400    330,004 
6.50%, 09/27/28 (Call 06/27/28)(b)   400    367,820 
8.75%, 05/03/29 (Call 03/03/29)(a)   500    498,750 
Stillwater Mining Co.          
4.00%, 11/16/26 (Call 11/16/23)(a)   200    179,880 
4.50%, 11/16/29 (Call 11/16/25)(a)   400    324,296 
Transnet SOC Ltd., 8.25%, 02/06/28(a)   600    596,448 
         4,379,985 
South Korea — 0.1%          
Woori Bank, 4.25%, (Call 10/04/24),          
(5-year CMT + 2.664%)(a)(d)(e)   200    192,000 
           
Spain — 0.1%          
Banco Bilbao Vizcaya Argentaria SA, 6.13%, (Call 11/16/27), (5-year USD Swap + 3.870%)(d)(e)   400    344,000 

5

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Supranational — 0.1%          
Eastern & Southern African Trade & Development Bank (The), 4.13%, 06/30/28(a)  $400   $314,162 
           
Switzerland — 0.0%          
Oriflame Investment Holding PLC, 5.13%, 05/04/26(a)   200    68,000 
           
Tanzania — 0.1%          
HTA Group Ltd./Mauritius, 7.00%, 12/18/25 (Call 08/10/23)(a)   400    381,384 
           
Thailand — 0.5%          
Bangkok Bank PCL/Hong Kong          
3.73%, 09/25/34 (Call 09/25/29),          
(5-year CMT + 1.900%)(a)(d)   600    516,270 
5.00%, (e)   400    379,800 
Kasikornbank PCL/Hong Kong, 3.34%, 10/02/31 (Call 10/02/26), (5-year CMT + 1.700%)(a)(d)   600    533,562 
Krung Thai Bank PCL/Cayman Islands, 4.40%, (Call 03/25/26), (5-year CMT + 3.530%)(a)(d)(e)   200    184,406 
         1,614,038 
Turkey — 1.9%          
Akbank TAS          
5.13%, 03/31/25(a)   200    192,000 
6.80%, 02/06/26(a)   200    194,568 
6.80%, 06/22/31 (Call 06/22/26),          
(5-year CMT + 6.015%)(a)(d)   200    185,170 
Anadolu Efes Biracilik Ve Malt Sanayii AS, 3.38%, 06/29/28 (Call 03/29/28)(a)   200    164,222 
Aydem Yenilenebilir Enerji AS, 7.75%, 02/02/27 (Call 02/02/24)(a)   400    353,152 
Coca-Cola Icecek AS, 4.50%, 01/20/29 (Call 10/20/28)(a)   200    179,798 
KOC Holding AS, 6.50%, 03/11/25 (Call 12/11/24)(a)   400    396,352 
Mersin Uluslararasi Liman Isletmeciligi AS, 5.38%, 11/15/24 (Call 08/31/23)(a)   400    389,808 
QNB Finansbank AS, 6.88%, 09/07/24(a)   400    399,368 
Turk Telekomunikasyon AS, 6.88%, 02/28/25(a)   200    193,622 
Turkcell Iletisim Hizmetleri AS          
5.75%, 10/15/25(a)   200    191,538 
5.80%, 04/11/28 (Call 01/11/28)(a)   200    181,162 
Turkiye Garanti Bankasi AS, 7.18%, 05/24/27,          
(5-year USD ICE Swap + 4.220%)(a)(d)   400    372,528 
Turkiye Is Bankasi AS          
7.75%, 01/22/30 (Call 01/22/25),          
(5-year CMT + 6.119%)(a)(d)   400    384,072 
9.19%, 06/29/28, (5-year USD Swap + 5.117%)(a)(d)   200    195,150 
Turkiye Petrol Rafinerileri AS, 4.50%, 10/18/24 (Call 07/20/24)(a)   400    386,980 
Turkiye Sise ve Cam Fabrikalari AS, 6.95%, 03/14/26 (Call 12/14/25)(a)   300    293,553 
Turkiye Vakiflar Bankasi TAO, 6.50%, 01/08/26(a)   400    378,196 
Ulker Biskuvi Sanayi AS, 6.95%, 10/30/25(a)   400    377,452 
Yapi ve Kredi Bankasi AS          
7.88%, 01/22/31 (Call 01/22/26),          
(5-year CMT + 7.415%)(a)(d)   200    190,116 
8.25%, 10/15/24(a)   200    201,566 
13.88%, (Call 01/15/24),          
(5-year USD Swap + 11.245%)(a)(d)(e)   400    409,492 
         6,209,865 
Ukraine — 0.1%          
Metinvest BV, 7.75%, 10/17/29(a)   200    115,776 
Security  Par
(000)		   Value 
         
Ukraine (continued)          
MHP Lux SA, 6.95%, 04/03/26(a)  $200   $115,918 
         231,694 
United Arab Emirates — 1.5%          
ADIB Capital Invest 2 Ltd., 7.13%, (Call 09/20/23),          
(5-year CMT + 4.270%)(a)(d)(e)   400    399,308 
Arada Sukuk Ltd., 8.13%, 06/08/27(a)   200    204,642 
Commercial Bank of Dubai PSC, 6.00%, (Call 04/21/26)(a)(d)(e)   200    196,296 
DIB Tier 1 Sukuk 3 Ltd., 6.25%, (Call 01/22/25)(a)(d)(e)   400    398,408 
DIB Tier 1 Sukuk 4 Ltd., 4.63%, (Call 05/19/26)(a)(d)(e)   600    564,924 
DP World Salaam, 6.00%, (Call 10/01/25),          
(5-year CMT + 5.750%)(a)(d)(e)   800    794,840 
Emirates NBD Bank PJSC          
4.25%, (Call 02/27/27)(a)(d)(e)   400    355,656 
6.13%, (Call 03/20/25)(a)(d)(e)   400    394,744 
Energian Israel Finance Ltd., 4.88%, 03/30/26 (Call 12/30/25)(a)(c)   350    325,910 
GEMS MENASA Cayman Ltd./GEMS Education Delaware LLC, 7.13%, 07/31/26 (Call 08/31/23)(a)   400    386,500 
MAF Global Securities Ltd., 7.88%, (Call 06/30/27),          
(5-year CMT + 4.893%)(a)(d)(e)   200    203,028 
Petrofac Ltd., 9.75%, 11/15/26 (Call 11/15/23)(a)   200    155,937 
Shelf Drilling Holdings Ltd., 8.25%, 02/15/25   470    445,193 
         4,825,386 
United Kingdom — 0.7%          
Huarong Finance 2017 Co. Ltd., 4.95%, 11/07/47(a)   400    274,980 
Standard Chartered PLC          
4.30%, (e)   800    615,912 
4.75%, (Call 01/14/31), (5-year CMT + 3.805%)(a)(d)(e)   600    459,804 
6.00%, (Call 07/26/25), (5-year CMT + 5.661%)(a)(d)(e)   400    383,320 
7.75%, (Call 08/15/27), (5-year CMT + 4.976%)(a)(d)(e)   600    597,000 
         2,331,016 
United States — 0.1%          
Playtika Holding Corp., 4.25%, 03/15/29 (Call 03/15/24)(a)   300    264,094 
Sagicor Financial Co. Ltd., 5.30%, 05/13/28(a)   200    188,000 
         452,094 
Vietnam — 0.1%          
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(a)   250    225,281 
           
Zambia — 0.7%          
First Quantum Minerals Ltd.          
6.88%, 03/01/26(a)   600    587,580 
6.88%, 10/15/27 (Call 10/15/23)(a)   800    782,500 
7.50%, 04/01/25 (Call 08/10/23)(a)   443    440,754 
8.63%, 06/01/31   600    614,250 
         2,425,084 
           
Total Corporate Bonds & Notes — 46.9%          
(Cost: $177,623,160)        155,384,797 
           
Foreign Government Obligations(h)          
           
Angola — 1.1%          
Angolan Government International Bond          
8.00%, 11/26/29(a)   800    705,768 
8.25%, 05/09/28(a)   800    733,872 
8.75%, 04/14/32(a)   1,100    963,094 
9.13%, 11/26/49(a)   600    484,620 

6

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Angola (continued)          
9.38%, 05/08/48(a)  $800   $660,552 
         3,547,906 
Argentina — 3.1%          
Argentine Republic Government International Bond          
0.75%, 07/09/30 (Call 08/31/23)(i)   7,903    2,716,506 
1.00%, 07/09/29 (Call 08/31/23)(b)   1,281    428,321 
3.50%, 07/09/41 (Call 08/31/23)(b)(i)   5,104    1,648,210 
3.63%, 07/09/35 (Call 08/31/23)(i)   10,114    3,151,089 
3.63%, 07/09/46 (Call 08/31/23)(i)   1,046    326,187 
4.25%, 01/09/38 (Call 08/31/23)(i)   5,599    2,012,611 
         10,282,924 
Azerbaijan — 0.1%          
Republic of Azerbaijan International Bond, 3.50%, 09/01/32(a)   450    384,386 
Bahrain — 2.5%          
Bahrain Government International Bond          
5.25%, 01/25/33(a)   600    536,724 
5.45%, 09/16/32(a)   600    549,102 
5.63%, 09/30/31(a)   400    374,284 
5.63%, 05/18/34(a)   600    537,042 
6.00%, 09/19/44(a)   600    492,996 
6.75%, 09/20/29(a)   600    602,652 
7.00%, 01/26/26(a)   600    610,536 
7.00%, 10/12/28(a)   700    722,127 
7.38%, 05/14/30(a)   400    413,584 
7.75%, 04/18/35(a)   400    413,808 
CBB International Sukuk Co. 7 SPC, 6.88%, 10/05/25(a)   400    408,152 
CBB International Sukuk Programme Co.          
3.88%, 05/18/29(a)   550    495,742 
3.95%, 09/16/27(a)   500    467,870 
4.50%, 03/30/27(a)   600    574,026 
6.25%, 11/14/24(a)   600    599,604 
CBB International Sukuk Programme Co. WLL, 6.25%, 10/18/30   400    406,360 
         8,204,609 
Bolivia — 0.1%          
Bolivian Government International Bond, 4.50%, 03/20/28(a)   400    273,212 
Brazil — 4.9%          
Brazilian Government International Bond          
2.88%, 06/06/25(b)   1,000    950,960 
3.75%, 09/12/31   934    811,226 
3.88%, 06/12/30(b)   1,700    1,520,803 
4.25%, 01/07/25(b)   2,100    2,059,407 
4.50%, 05/30/29 (Call 02/28/29)(b)   1,000    950,900 
4.63%, 01/13/28 (Call 10/13/27)(b)   1,400    1,361,332 
4.75%, 01/14/50 (Call 07/14/49)(b)   2,050    1,568,475 
5.00%, 01/27/45(b)   1,700    1,377,408 
5.63%, 01/07/41(b)   1,100    999,163 
5.63%, 02/21/47   1,500    1,311,690 
6.00%, 04/07/26(b)   1,000    1,023,450 
6.00%, 10/20/33   700    694,050 
7.13%, 01/20/37   800    866,784 
8.25%, 01/20/34(b)   650    755,320 
         16,250,968 
Colombia — 4.0%          
Colombia Government International Bond 3.00%, 01/30/30 (Call 10/30/29)   700    562,170 
Security  Par
(000)		   Value 
         
Colombia (continued)          
3.13%, 04/15/31 (Call 01/15/31)  $1,200   $936,600 
3.25%, 04/22/32 (Call 01/22/32)   1,000    764,750 
3.88%, 04/25/27 (Call 01/25/27)   1,000    918,740 
3.88%, 02/15/61 (Call 08/15/60)   600    354,660 
4.13%, 02/22/42 (Call 08/22/41)   600    400,830 
4.13%, 05/15/51 (Call 11/15/50)(b)   800    502,400 
4.50%, 01/28/26 (Call 10/28/25)(b)   800    769,008 
4.50%, 03/15/29 (Call 12/15/28)(b)   1,000    893,510 
5.00%, 06/15/45 (Call 12/15/44)(b)   2,400    1,725,408 
5.20%, 05/15/49 (Call 11/15/48)   1,450    1,052,367 
5.63%, 02/26/44 (Call 08/26/43)   1,200    933,876 
6.13%, 01/18/41(b)   1,100    934,560 
7.38%, 09/18/37(b)   900    888,138 
7.50%, 02/02/34 (Call 11/02/33)   1,000    1,009,330 
8.00%, 04/20/33 (Call 01/20/33)(b)   689    723,257 
         13,369,604 
Costa Rica — 0.7%          
Costa Rica Government International Bond          
6.13%, 02/19/31(a)   400    399,192 
6.55%, 04/03/34 (Call 01/03/34)(a)   800    809,352 
7.00%, 04/04/44(a)   650    643,208 
7.16%, 03/12/45(a)   600    604,188 
         2,455,940 
Dominican Republic — 3.3%          
Dominican Republic International Bond          
4.50%, 01/30/30(a)   850    752,377 
4.88%, 09/23/32(a)   1,500    1,298,415 
5.30%, 01/21/41(a)   700    564,312 
5.50%, 01/27/25(a)   625    616,225 
5.50%, 02/22/29 (Call 12/22/28)(a)   850    806,225 
5.88%, 01/30/60(a)   1,650    1,303,038 
5.95%, 01/25/27(a)   850    839,188 
6.00%, 07/19/28(a)   650    635,824 
6.00%, 02/22/33(a)   850    797,980 
6.40%, 06/05/49(a)(b)   800    697,328 
6.50%, 02/15/48(a)   450    400,073 
6.85%, 01/27/45(a)   1,000    929,890 
6.88%, 01/29/26(a)   700    706,265 
7.45%, 04/30/44(a)   750    749,407 
         11,096,547 
Ecuador — 0.8%          
Ecuador Government International Bond          
0.00%, 07/31/30(a)(f)   482    137,031 
2.50%, 07/31/40(a)(i)   1,463    457,700 
3.50%, 07/31/35(a)(i)   3,690    1,264,416 
6.00%, 07/31/30(a)(i)   1,706    809,025 
         2,668,172 
Egypt — 2.3%          
Egypt Government International Bond          
5.80%, 09/30/27(a)   400    291,128 
5.88%, 06/11/25(a)   800    694,672 
5.88%, 02/16/31(a)   800    494,864 
6.59%, 02/21/28(a)   600    431,904 
7.05%, 01/15/32(a)   600    380,208 
7.30%, 09/30/33(a)   500    308,182 
7.50%, 01/31/27(a)   1,000    788,240 
7.50%, 02/16/61(a)   600    326,916 
7.60%, 03/01/29(a)   800    574,408 
7.63%, 05/29/32(a)   1,000    644,390 

7

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Egypt (continued)          
7.90%, 02/21/48(a)  $850   $469,506 
8.50%, 01/31/47(a)   1,300    756,548 
8.70%, 03/01/49(a)   600    349,290 
8.88%, 05/29/50(a)   1,000    588,100 
Egyptian Financial Co. for Sovereign Taskeek (The),          
10.88%, 02/28/26(a)   600    579,210 
         7,677,566 
El Salvador — 0.3%          
El Salvador Government International Bond          
7.12%, 01/20/50 (Call 07/20/49)(a)   550    337,552 
7.65%, 06/15/35(a)   400    259,164 
9.50%, 07/15/52 (Call 01/15/52)(a)   550    384,230 
         980,946 
Ethiopia — 0.1%          
Ethiopia International Bond, 6.63%, 12/11/24(a)   400    273,268 
           
Gabon — 0.1%          
Gabon Government International Bond, 6.63%, 02/06/31(a)   400    337,828 
           
Ghana — 0.7%          
Ghana Government International Bond          
6.38%, 02/11/27(a)(j)(k)   800    361,232 
7.63%, 05/16/29(a)(j)(k)   500    225,040 
7.75%, 04/07/29(a)(j)(k)   400    180,264 
7.88%, 02/11/35(a)(j)(k)   400    182,280 
8.13%, 01/18/26(a)(j)(k)   470    221,567 
8.13%, 03/26/32(a)(j)(k)   500    226,630 
8.63%, 04/07/34(a)(j)(k)   400    181,116 
8.63%, 06/16/49(a)(j)(k)   600    264,828 
8.95%, 03/26/51(a)(j)(k)   500    220,580 
10.75%, 10/14/30(a)(j)(k)   400    282,628 
         2,346,165 
Guatemala — 0.3%          
Guatemala Government Bond          
6.13%, 06/01/50 (Call 12/01/49)(a)(b)   700    650,020 
6.60%, 06/13/36(c)   400    409,400 
         1,059,420 
Iraq — 0.2%          
Iraq International Bond, 5.80%, 01/15/28(Call 09/17/23)(a)   703    651,234 
           
Ivory Coast — 0.2%          
Ivory Coast Government International Bond, 6.13%, 06/15/33(a)   600    537,300 
           
Jamaica — 0.7%          
Jamaica Government International Bond          
6.75%, 04/28/28(b)   600    630,288 
7.88%, 07/28/45(b)   900    1,052,226 
8.00%, 03/15/39(b)   600    724,122 
         2,406,636 
Jordan — 0.8%          
Jordan Government International Bond          
5.75%, 01/31/27(a)   400    388,508 
5.85%, 07/07/30(a)   900    833,994 
6.13%, 01/29/26(a)   400    395,028 
7.38%, 10/10/47(a)   400    354,328 
7.50%, 01/13/29(a)   600    604,188 
         2,576,046 
Security  Par
(000)		   Value 
         
Kenya — 0.5%          
Republic of Kenya Government International Bond          
6.30%, 01/23/34(a)  $400   $302,004 
7.25%, 02/28/28(a)   400    350,448 
8.00%, 05/22/32(a)   600    515,940 
8.25%, 02/28/48(a)   600    469,404 
         1,637,796 
Lebanon — 0.1%          
Lebanon Government International Bond          
0.00%, 10/04/24(j)(k)   730    52,925 
6.00%, 01/27/23(a)(j)(k)   500    36,875 
6.60%, 11/27/26(a)(j)(k)   760    54,066 
6.65%, 02/26/30(a)(j)(k)   760    55,229 
6.75%, 11/29/27(a)(j)(k)   470    33,586 
6.85%, 03/23/27(a)(j)(k)   800    58,120 
7.00%, 03/23/32(a)(j)(k)   475    33,811 
         324,612 
Morocco — 0.6%          
Morocco Government International Bond          
3.00%, 12/15/32(a)   400    321,056 
4.00%, 12/15/50(a)   600    409,776 
5.95%, 03/08/28(a)   600    603,462 
6.50%, 09/08/33(a)   700    722,750 
         2,057,044 
Nigeria — 1.8%          
Nigeria Government International Bond          
6.13%, 09/28/28(a)   800    692,400 
6.50%, 11/28/27(a)   600    534,930 
7.14%, 02/23/30(a)   714    623,993 
7.38%, 09/28/33(a)   600    495,444 
7.63%, 11/21/25(a)   300    293,091 
7.63%, 11/28/47(a)   600    446,634 
7.70%, 02/23/38(a)   600    472,362 
7.88%, 02/16/32(a)   800    698,152 
8.25%, 09/28/51(a)   600    470,364 
8.38%, 03/24/29(a)   800    749,848 
8.75%, 01/21/31(a)   600    558,936 
         6,036,154 
Oman — 3.4%          
Oman Government International Bond          
4.75%, 06/15/26(a)   1,000    974,910 
4.88%, 02/01/25(a)   200    196,894 
5.38%, 03/08/27(a)   1,000    985,180 
5.63%, 01/17/28(a)   1,400    1,390,396 
6.00%, 08/01/29(a)   1,000    1,007,830 
6.25%, 01/25/31(a)   800    820,256 
6.50%, 03/08/47(a)   1,000    959,600 
6.75%, 10/28/27(a)   800    829,792 
6.75%, 01/17/48(a)   1,400    1,382,514 
7.00%, 01/25/51(a)   400    407,492 
7.38%, 10/28/32(a)   600    667,890 
Oman Sovereign Sukuk Co.          
4.88%, 06/15/30(a)   800    796,472 
5.93%, 10/31/25(a)   800    808,384 
         11,227,610 
Pakistan — 0.4%          
Pakistan Global Sukuk Programme Co. Ltd. (The), 7.95%, 01/31/29(a)   400    237,632 
Pakistan Government International Bond          
6.00%, 04/08/26(a)   700    374,066 

8

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Pakistan (continued)          
6.88%, 12/05/27(a)  $750   $398,528 
7.38%, 04/08/31(a)   800    388,872 
         1,399,098 
Paraguay — 0.4%          
Paraguay Government International Bond          
4.95%, 04/28/31 (Call 01/28/31)(a)   400    384,112 
5.40%, 03/30/50 (Call 09/30/49)(a)   600    517,752 
6.10%, 08/11/44(a)   400    380,816 
         1,282,680 
Senegal — 0.3%          
Senegal Government International Bond          
6.25%, 05/23/33(a)   500    429,795 
6.75%, 03/13/48(a)   600    447,798 
         877,593 
Serbia — 0.3%          
Serbia International Bond          
2.13%, 12/01/30(a)   535    413,988 
6.50%, 09/26/33(a)   500    500,195 
         914,183 
South Africa — 2.5%          
Republic of South Africa Government International Bond          
4.30%, 10/12/28(b)   1,000    902,860 
4.85%, 09/27/27(b)   400    381,008 
4.85%, 09/30/29   1,100    992,684 
4.88%, 04/14/26   604    585,101 
5.00%, 10/12/46(b)   600    419,052 
5.38%, 07/24/44(b)   500    376,080 
5.65%, 09/27/47   800    598,400 
5.75%, 09/30/49   1,350    1,009,624 
5.88%, 09/16/25   986    979,404 
5.88%, 06/22/30   900    843,651 
5.88%, 04/20/32   600    549,510 
7.30%, 04/20/52   700    622,265 
         8,259,639 
Sri Lanka — 0.6%          
Sri Lanka Government International Bond          
6.20%, 05/11/27(a)(j)(k)   700    310,303 
6.75%, 04/18/28(a)(j)(k)   700    310,450 
6.83%, 07/18/26(a)(j)(k)   600    271,368 
6.85%, 03/14/24(a)(j)(k)   600    266,808 
6.85%, 11/03/25(a)(j)(k)   900    408,546 
7.55%, 03/28/30(a)(j)(k)   400    177,060 
7.85%, 03/14/29(a)(j)(k)   700    310,408 
         2,054,943 
Trinidad And Tobago — 0.1%          
Trinidad & Tobago Government International Bond, 4.50%, 08/04/26(a)   400    387,808 
           
Tunisia — 0.1%          
Tunisian Republic, 5.75%, 01/30/25(a)   400    278,604 
           
Turkey — 10.9%          
Hazine Mustesarligi Varlik Kiralama AS          
4.49%, 11/25/24(a)   400    384,672 
5.13%, 06/22/26(a)   1,200    1,118,748 
7.25%, 02/24/27(a)   1,500    1,477,335 
9.76%, 11/13/25(a)   1,400    1,460,634 
Turkey Government International Bond          
4.25%, 03/13/25   1,000    954,870 
Security  Par
(000)		   Value 
         
Turkey (continued)          
4.25%, 04/14/26  $900   $826,470 
4.75%, 01/26/26   800    752,384 
4.88%, 10/09/26   1,500    1,378,500 
4.88%, 04/16/43   1,570    1,074,225 
5.13%, 02/17/28(b)   1,000    908,010 
5.25%, 03/13/30(b)   1,100    948,233 
5.60%, 11/14/24   1,100    1,080,255 
5.75%, 05/11/47(b)   1,800    1,323,342 
5.88%, 06/26/31   900    780,516 
5.95%, 01/15/31   1,200    1,057,152 
6.00%, 03/25/27(b)   1,700    1,602,080 
6.00%, 01/14/41   1,500    1,180,665 
6.13%, 10/24/28(b)   1,500    1,396,350 
6.38%, 10/14/25   1,200    1,171,776 
6.50%, 09/20/33   900    804,825 
6.63%, 02/17/45(b)   1,400    1,150,506 
6.75%, 05/30/40   1,050    885,476 
6.88%, 03/17/36   1,300    1,164,917 
7.25%, 03/05/38(b)   500    459,320 
7.38%, 02/05/25(b)   1,570    1,583,062 
7.63%, 04/26/29   1,400    1,377,810 
8.00%, 02/14/34   750    751,283 
8.60%, 09/24/27   1,000    1,019,670 
9.13%, 07/13/30   700    727,015 
9.38%, 03/14/29(b)   1,100    1,148,697 
9.38%, 01/19/33   1,200    1,264,044 
9.88%, 01/15/28   1,800    1,908,990 
11.88%, 01/15/30(b)   700    833,973 
Turkiye Vakiflar Bankasi TAO, 5.50%, 10/01/26(a)   200    180,522 
         36,136,327 
Ukraine — 0.7%          
Ukraine Government International Bond          
6.88%, 05/21/31(a)(j)(k)   800    236,000 
7.25%, 03/15/35(a)(j)(k)   1,200    359,076 
7.38%, 09/25/34(a)(j)(k)   1,400    413,000 
7.75%, 09/01/25(a)(j)(k)   625    205,938 
7.75%, 09/01/26(a)(j)(k)   850    267,750 
7.75%, 09/01/27(a)(j)(k)   600    187,500 
7.75%, 09/01/28(a)(j)(k)   700    217,000 
7.75%, 09/01/29(a)(j)(k)   750    232,500 
9.75%, 11/01/30(a)(j)(k)   800    252,000 
         2,370,764 
United Arab Emirates — 1.1%          
Emirate of Dubai Government International Bond          
3.90%, 09/09/50(a)   600    441,696 
5.25%, 01/30/43(a)   600    563,928 
Finance Department Government of Sharjah          
4.00%, 07/28/50(a)   500    322,085 
6.50%, 11/23/32(a)   500    516,250 
Sharjah Sukuk Program Ltd.          
2.94%, 06/10/27(a)   400    364,468 
3.23%, 10/23/29(a)   500    445,455 
3.85%, 04/03/26(a)   400    384,248 
4.23%, 03/14/28(a)   800    760,952 
         3,799,082 
Vietnam — 0.2%          
Vietnam Government International Bond, 4.80%, 11/19/24(a)(b)   600    585,360 

9

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023 (Percentages shown are based on Net Assets)

 

Security  Par/
Shares
(000)		   Value 
         
Zambia — 0.2%          
Zambia Government International Bond          
8.50%, 04/14/24(a)(j)(k)  $400   $230,872 
8.97%, 07/30/27(a)(j)(k)   600    343,260 
         574,132 
           
Total Foreign Government Obligations — 50.5%      
(Cost: $209,552,637)        167,584,106 
           
Total Long-Term Investments — 97.4%          
(Cost: $387,175,797)        322,968,903 
         
Short-Term Securities          
           
Money Market Funds — 15.6%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.42%(l)(m)(n)   47,180    47,194,290 
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.22%(l)(m)   4,450    4,450,000 
           
Total Short-Term Securities — 15.6%          
(Cost: $51,626,385)        51,644,290 
           
Total Investments — 113.0%          
(Cost: $438,802,182)        374,613,193 
           
Liabilities in Excess of Other Assets — (13.0)%        (42,953,886)
           
Net Assets—100.0%       $331,659,307 

 

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

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

(c)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.

(d)Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

(e)Perpetual security with no stated maturity date.

(f)Zero-coupon bond.

(g)Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.

(h)U.S. dollar denominated security issued by foreign domiciled entity.

(i)Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

(j)Issuer filed for bankruptcy and/or is in default.

(k)Non-income producing security.

(l)Affiliate of the Fund.

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

(n)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 July 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
10/31/22		   Purchases
at Cost		   Proceeds
from Sale		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
07/31/23		   Shares
Held at
07/31/23
(000)		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Institutional, SL Agency Shares  $34,730,604   $12,444,690(a)  $—   $2,435   $16,561   $47,194,290    47,180   $233,601(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   2,469,000    1,981,000(a)   —    —    —    4,450,000    4,450    71,033    2 
                  $2,435   $16,561   $51,644,290        $304,634   $2 

 

(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.

 

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).

10

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
July 31, 2023  

 

Fair Value Hierarchy as of Period End (continued)

 

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                    
Corporate Bonds & Notes  $—   $155,384,797   $—   $155,384,797 
Foreign Government Obligations   —    167,584,106    —    167,584,106 
Short-Term Securities                    
Money Market Funds   51,644,290    —    —    51,644,290 
   $51,644,290   $322,968,903   $—   $374,613,193 

 

Portfolio Abbreviation

 

CMT Constant Maturity Treasury
OJSC Open Joint Stock Company
PIK Payment-in-kind
PJSC Public Joint Stock Company

 

Currency Abbreviations

 

USD United States Dollar

11