NPORT-EX 2 NPORT_0BI3_82497581_1123.htm

 

Schedule of Investments (unaudited) iShares® MSCI Japan ETF
November 30, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Air Freight & Logistics — 0.4%          
Nippon Express Holdings Inc.   271,200   $14,794,024 
SG Holdings Co. Ltd.   1,192,500    17,202,565 
Yamato Holdings Co. Ltd.   995,000    17,663,895 
         49,660,484 
Automobile Components — 1.9%          
Aisin Corp.   551,400    20,365,002 
Bridgestone Corp.   2,136,800    88,198,133 
Denso Corp.   6,487,400    101,811,506 
Koito Manufacturing Co. Ltd.   722,100    10,929,817 
Sumitomo Electric Industries Ltd.   2,674,100    33,209,245 
         254,513,703 
Automobiles — 8.7%          
Honda Motor Co. Ltd.   17,286,700    176,824,540 
Isuzu Motors Ltd.   2,182,100    28,967,818 
Mazda Motor Corp.   2,128,000    22,913,506 
Nissan Motor Co. Ltd.   8,687,600    34,484,023 
Subaru Corp.   2,302,800    41,080,285 
Suzuki Motor Corp.   1,378,500    56,331,716 
Toyota Motor Corp.   39,687,100    753,493,071 
Yamaha Motor Co. Ltd.   1,114,100    28,560,428 
         1,142,655,387 
Banks — 7.1%          
Chiba Bank Ltd. (The)   1,983,800    14,886,400 
Concordia Financial Group Ltd.   3,966,400    18,668,033 
Japan Post Bank Co. Ltd.   5,415,400    53,410,357 
Mitsubishi UFJ Financial Group Inc.   42,734,180    364,123,754 
Mizuho Financial Group Inc.   9,027,758    153,198,103 
Resona Holdings Inc.   7,943,600    41,378,627 
Shizuoka Financial Group Inc., NVS   1,751,800    14,190,159 
Sumitomo Mitsui Financial Group Inc.   4,755,300    233,948,642 
Sumitomo Mitsui Trust Holdings Inc.   1,226,132    46,146,195 
         939,950,270 
Beverages — 0.9%          
Asahi Group Holdings Ltd.   1,802,500    66,734,865 
Kirin Holdings Co. Ltd.   2,907,500    41,101,968 
Suntory Beverage & Food Ltd.   520,400    16,385,045 
         124,221,878 
Broadline Retail — 0.4%          
Pan Pacific International Holdings Corp.   1,425,100    30,873,979 
Rakuten Group Inc.   5,605,100    22,150,765 
         53,024,744 
Building Products — 1.4%          
AGC Inc.   723,500    26,285,443 
Daikin Industries Ltd.   987,300    147,423,053 
TOTO Ltd.   496,800    12,741,690 
         186,450,186 
Capital Markets — 1.0%          
Daiwa Securities Group Inc.   4,992,200    32,278,412 
Japan Exchange Group Inc.   1,879,200    38,358,826 
Nomura Holdings Inc.   11,247,300    46,059,797 
SBI Holdings Inc.   923,510    20,034,481 
         136,731,516 
Chemicals — 3.8%          
Asahi Kasei Corp.   4,695,000    32,597,349 
JSR Corp.   662,900    18,255,676 
Mitsubishi Chemical Group Corp.   4,791,600    31,419,453 
Mitsui Chemicals Inc.   638,900    18,756,549 
Nippon Paint Holdings Co. Ltd.   3,548,600    26,452,971 
Security  Shares   Value 
         
Chemicals (continued)          
Nippon Sanso Holdings Corp.   648,300   $17,039,868 
Nissan Chemical Corp.   470,000    17,153,572 
Nitto Denko Corp.   537,200    38,176,409 
Shin-Etsu Chemical Co. Ltd.   6,817,600    240,318,059 
Sumitomo Chemical Co. Ltd.   5,269,200    13,455,318 
Toray Industries Inc.   5,189,800    26,907,921 
Tosoh Corp.   973,300    12,948,574 
         493,481,719 
Commercial Services & Supplies — 0.7%          
Dai Nippon Printing Co. Ltd.   765,600    21,503,435 
Secom Co. Ltd.   785,800    54,621,121 
Toppan Inc.   922,600    21,604,847 
         97,729,403 
Construction & Engineering — 0.6%          
Kajima Corp.   1,582,800    25,022,249 
Obayashi Corp.   2,430,200    20,503,146 
Shimizu Corp.   1,948,200    12,806,257 
Taisei Corp.   635,800    21,620,914 
         79,952,566 
Consumer Staples Distribution & Retail — 1.5%          
Aeon Co. Ltd.   2,447,300    50,618,555 
Kobe Bussan Co. Ltd.   563,200    14,809,324 
MatsukiyoCocokara & Co.   1,284,100    22,183,687 
Seven & i Holdings Co. Ltd.   2,819,780    108,271,688 
         195,883,254 
Diversified REITs — 0.4%          
Daiwa House REIT Investment Corp.   8,682    15,459,928 
Kenedix Office Investment Corp.   15,504    17,757,391 
Nomura Real Estate Master Fund Inc.   15,882    18,191,113 
         51,408,432 
Diversified Telecommunication Services — 1.0%          
Nippon Telegraph & Telephone Corp.   111,828,800    130,867,116 
           
Electric Utilities — 0.7%          
Chubu Electric Power Co. Inc.   2,411,200    29,789,005 
Kansai Electric Power Co. Inc. (The)   2,634,800    35,181,083 
Tokyo Electric Power Co. Holdings Inc.(a)   5,713,400    24,404,026 
         89,374,114 
Electrical Equipment — 1.4%          
Fuji Electric Co. Ltd.   474,900    19,928,282 
Mitsubishi Electric Corp.   7,232,100    97,965,685 
Nidec Corp.   1,562,100    59,232,150 
         177,126,117 
Electronic Equipment, Instruments & Components — 5.4%
Azbil Corp.   430,200    13,894,309 
Hamamatsu Photonics KK   525,100    20,762,562 
Hirose Electric Co. Ltd.   115,458    12,932,501 
Ibiden Co. Ltd.   421,700    20,161,274 
Keyence Corp.   728,104    311,785,350 
Kyocera Corp.   1,201,200    66,516,086 
Murata Manufacturing Co. Ltd.   6,449,400    125,326,127 
Omron Corp.   656,100    27,507,097 
Shimadzu Corp.   886,400    22,994,203 
TDK Corp.   1,454,900    67,701,083 
Yokogawa Electric Corp.   851,300    16,154,341 
         705,734,933 
Entertainment — 2.1%          
Capcom Co. Ltd.   648,300    21,757,622 
Koei Tecmo Holdings Co. Ltd.   436,720    5,331,357 
Konami Group Corp.   375,900    18,590,058 

1

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Japan ETF
November 30, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Entertainment (continued)          
Nexon Co. Ltd.   1,280,500   $27,669,907 
Nintendo Co. Ltd.   3,888,200    181,238,371 
Square Enix Holdings Co. Ltd.   321,000    11,136,673 
Toho Co. Ltd.   419,000    14,520,683 
         280,244,671 
Financial Services — 0.8%          
Mitsubishi HC Capital Inc.   3,019,400    19,695,632 
ORIX Corp.   4,390,200    80,204,666 
         99,900,298 
Food Products — 1.2%          
Ajinomoto Co. Inc.   1,669,900    62,342,504 
Kikkoman Corp.   507,900    31,192,325 
MEIJI Holdings Co. Ltd.   878,612    20,352,582 
Nissin Foods Holdings Co. Ltd.   250,200    24,854,273 
Yakult Honsha Co. Ltd.   952,500    21,296,151 
         160,037,835 
Gas Utilities — 0.5%          
Osaka Gas Co. Ltd.   1,403,400    27,349,923 
Tokyo Gas Co. Ltd.   1,383,400    32,074,318 
         59,424,241 
Ground Transportation — 2.1%          
Central Japan Railway Co.   2,697,200    64,706,248 
East Japan Railway Co.   1,131,500    61,115,714 
Hankyu Hanshin Holdings Inc.   856,500    25,893,548 
Keisei Electric Railway Co. Ltd.   483,900    19,492,021 
Kintetsu Group Holdings Co. Ltd.   677,900    18,982,138 
Odakyu Electric Railway Co. Ltd.   1,172,200    16,470,946 
Tobu Railway Co. Ltd.   706,700    17,463,884 
Tokyu Corp.   1,870,800    21,942,503 
West Japan Railway Co.   821,500    32,467,735 
         278,534,737 
Health Care Equipment & Supplies — 2.6%          
Asahi Intecc Co. Ltd.   813,200    15,776,673 
Hoya Corp.   1,325,100    149,042,459 
Olympus Corp.   4,501,600    66,081,666 
Sysmex Corp.   628,000    34,738,862 
Terumo Corp.   2,518,300    80,402,994 
         346,042,654 
Health Care Technology — 0.2%          
M3 Inc.   1,651,700    27,257,299 
Hotels, Restaurants & Leisure — 1.3%          
McDonald’s Holdings Co. Japan Ltd.   323,400    13,766,707 
Oriental Land Co. Ltd.   4,083,200    138,702,968 
Zensho Holdings Co. Ltd.   347,000    19,248,104 
         171,717,779 
Household Durables — 4.4%          
Iida Group Holdings Co. Ltd.   588,780    8,830,413 
Open House Group Co. Ltd.   290,900    8,124,356 
Panasonic Holdings Corp.   8,266,315    85,176,979 
Sekisui Chemical Co. Ltd.   1,439,400    20,457,276 
Sekisui House Ltd.   2,232,600    45,713,320 
Sharp Corp.(a)   973,600    6,083,922 
Sony Group Corp.   4,719,500    405,834,614 
         580,220,880 
Household Products — 0.4%          
Unicharm Corp.   1,510,200    48,529,728 
           
Industrial Conglomerates — 2.0%          
Hikari Tsushin Inc.   75,900    11,771,808 
Hitachi Ltd.   3,469,800    241,259,620 
Security  Shares   Value 
         
Industrial Conglomerates (continued)          
Toshiba Corp.(a)   321,863   $9,985,847 
         263,017,275 
Industrial REITs — 0.3%          
GLP J-REIT   17,511    16,521,015 
Nippon Prologis REIT Inc.   8,531    16,146,527 
         32,667,542 
Insurance — 3.5%          
Dai-ichi Life Holdings Inc.   3,519,300    73,777,201 
Japan Post Holdings Co. Ltd.   7,771,600    68,664,482 
Japan Post Insurance Co. Ltd.   717,000    13,477,250 
MS&AD Insurance Group Holdings Inc.   1,604,940    60,428,209 
Sompo Holdings Inc.   1,106,050    50,738,278 
T&D Holdings Inc.   1,873,600    27,877,534 
Tokio Marine Holdings Inc.   6,744,700    167,013,171 
         461,976,125 
Interactive Media & Services — 0.2%          
Z Holdings Corp.   10,000,300    28,966,459 
           
IT Services — 2.3%          
Fujitsu Ltd.   658,800    93,803,658 
NEC Corp.   919,000    51,221,274 
Nomura Research Institute Ltd.   1,445,312    40,471,222 
NTT Data Corp.   2,361,900    28,697,838 
Obic Co. Ltd.   260,900    39,916,277 
Otsuka Corp.   426,600    17,380,446 
SCSK Corp.   585,900    10,773,740 
TIS Inc.   823,300    17,371,695 
         299,636,150 
Leisure Products — 0.8%          
Bandai Namco Holdings Inc.   2,243,194    44,606,450 
Shimano Inc.   287,800    44,067,406 
Yamaha Corp.   490,700    11,473,897 
         100,147,753 
Machinery — 4.6%          
Daifuku Co. Ltd.   1,137,200    21,422,954 
FANUC Corp.   3,566,200    99,018,627 
Hitachi Construction Machinery Co. Ltd.   402,500    10,493,969 
Hoshizaki Corp.   404,400    12,878,973 
Komatsu Ltd.   3,462,200    88,559,875 
Kubota Corp.   3,754,000    53,917,654 
Makita Corp.   838,300    22,163,716 
MINEBEA MITSUMI Inc.   1,358,600    25,886,591 
MISUMI Group Inc.   1,065,600    17,301,239 
Mitsubishi Heavy Industries Ltd.   1,199,400    67,381,777 
SMC Corp.   214,300    107,943,770 
Toyota Industries Corp.   548,700    47,191,119 
Yaskawa Electric Corp.   898,300    34,465,129 
         608,625,393 
Marine Transportation — 0.8%          
Kawasaki Kisen Kaisha Ltd.   516,000    18,147,603 
Mitsui OSK Lines Ltd.   1,287,400    35,398,004 
Nippon Yusen KK   1,813,800    48,853,464 
         102,399,071 
Media — 0.2%          
Dentsu Group Inc.   758,300    20,426,122 
           
Metals & Mining — 1.0%          
JFE Holdings Inc.   2,153,750    31,813,405 
Nippon Steel Corp.   3,200,870    74,951,306 
Sumitomo Metal Mining Co. Ltd.   925,100    26,740,387 
         133,505,098 

2

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Japan ETF
November 30, 2023 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Office REITs — 0.3%          
Japan Real Estate Investment Corp.   4,792   $18,601,217 
Nippon Building Fund Inc.   5,729    24,021,519 
         42,622,736 
Oil, Gas & Consumable Fuels — 0.9%          
ENEOS Holdings Inc.   10,782,595    42,439,918 
Idemitsu Kosan Co. Ltd.   724,529    19,763,867 
Inpex Corp.   3,632,600    50,116,892 
         112,320,677 
Paper & Forest Products — 0.1%          
Oji Holdings Corp.   3,226,800    11,987,698 
Passenger Airlines — 0.2%          
ANA Holdings Inc.(a)   598,100    12,341,995 
Japan Airlines Co. Ltd.   539,900    10,219,005 
         22,561,000 
Personal Care Products — 0.9%          
Kao Corp.   1,743,600    66,802,539 
Kose Corp.   124,800    8,829,353 
Shiseido Co. Ltd.   1,497,000    40,102,429 
         115,734,321 
Pharmaceuticals — 5.5%          
Astellas Pharma Inc.   6,772,450    82,541,705 
Chugai Pharmaceutical Co. Ltd.   2,513,500    88,768,708 
Daiichi Sankyo Co. Ltd.   6,922,207    187,571,920 
Eisai Co. Ltd.   943,400    48,991,847 
Kyowa Kirin Co. Ltd.   1,010,400    16,703,022 
Ono Pharmaceutical Co. Ltd.   1,452,300    26,757,191 
Otsuka Holdings Co. Ltd.   1,565,700    60,397,533 
Shionogi & Co. Ltd.   977,800    46,104,767 
Takeda Pharmaceutical Co. Ltd.   5,921,800    167,870,768 
         725,707,461 
Professional Services — 1.6%          
BayCurrent Consulting Inc.   494,400    16,590,359 
Recruit Holdings Co. Ltd.   5,394,900    199,365,399 
         215,955,758 
Real Estate Management & Development — 2.1% 
Daito Trust Construction Co. Ltd.   232,100    25,566,939 
Daiwa House Industry Co. Ltd.   2,220,800    63,102,750 
Hulic Co. Ltd.   1,436,900    14,269,173 
Mitsubishi Estate Co. Ltd.   4,212,600    56,947,908 
Mitsui Fudosan Co. Ltd.   3,330,900    78,300,495 
Nomura Real Estate Holdings Inc.   411,200    10,027,692 
Sumitomo Realty & Development Co. Ltd.   1,069,000    30,233,747 
         278,448,704 
Retail REITs — 0.1%          
Japan Metropolitan Fund Invest   26,156    17,405,641 
           
Semiconductors & Semiconductor Equipment — 4.9% 
Advantest Corp.   2,867,200    89,090,205 
Disco Corp.   344,700    74,784,053 
Lasertec Corp.   282,300    63,047,880 
Renesas Electronics Corp.(a)   5,497,000    95,806,911 
Rohm Co. Ltd.   1,233,500    23,568,038 
SUMCO Corp.   1,310,500    19,607,509 
Tokyo Electron Ltd.   1,765,056    283,558,911 
         649,463,507 
Security  Shares   Value 
         
Software — 0.3%          
Oracle Corp. Japan   144,200   $11,104,721 
Trend Micro Inc.   500,700    25,452,020 
         36,556,741 
Specialty Retail — 1.7%          
Fast Retailing Co. Ltd.   655,000    166,400,266 
Nitori Holdings Co. Ltd.   299,800    34,355,915 
USS Co. Ltd.   769,400    15,044,994 
ZOZO Inc.   524,800    11,078,385 
         226,879,560 
Technology Hardware, Storage & Peripherals — 1.7% 
Brother Industries Ltd.   868,200    14,658,406 
Canon Inc.   3,743,650    96,453,464 
FUJIFILM Holdings Corp.   1,396,500    81,779,643 
Ricoh Co. Ltd.   2,053,000    16,776,044 
Seiko Epson Corp.   1,080,700    16,051,333 
         225,718,890 
Tobacco — 0.9%          
Japan Tobacco Inc.   4,490,900    115,482,334 
           
Trading Companies & Distributors — 5.9% 
ITOCHU Corp.   4,448,500    172,946,148 
Marubeni Corp.   5,359,800    83,762,388 
Mitsubishi Corp.   4,303,700    200,673,969 
Mitsui & Co. Ltd.   4,843,700    176,635,166 
MonotaRO Co. Ltd.   938,900    9,436,973 
Sumitomo Corp.   3,890,700    81,573,729 
Toyota Tsusho Corp.   795,000    44,055,119 
         769,083,492 
Wireless Telecommunication Services — 3.5%          
KDDI Corp.   5,601,500    174,979,992 
SoftBank Corp.   10,760,000    130,765,371 
SoftBank Group Corp.   3,850,900    156,044,599 
         461,789,962 
Total Long-Term Investments — 99.2%          
(Cost: $14,102,947,330)        13,039,761,414 
           
Short-Term Securities          
           
Money Market Funds — 0.0%          
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.34%(b)(c)   5,120,000    5,120,000 
           
Total Short-Term Securities — 0.0%          
(Cost: $5,120,000)        5,120,000 
           
Total Investments — 99.2%          
(Cost: $14,108,067,330)        13,044,881,414 
           
Other Assets Less Liabilities — 0.8%        107,675,510 
           
Net Assets — 100.0%       $13,152,556,924 

 

(a)  Non-income producing security.
(b)  Affiliate of the Fund.
(c)  Annualized 7-day yield as of period end.

3

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Japan ETF
November 30, 2023

 

Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended November 30, 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
11/30/23		   Shares
Held at
11/30/23		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Institutional, SL Agency Shares(a)   $3,594,331   $—   $(3,594,573)(b)  $242   $—   $—    —   $6,334(c)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   6,640,000    —    (1,520,000)(b)   —    —    5,120,000    5,120,000    52,386    — 
                  $242   $—   $5,120,000        $58,720   $— 

 

(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                  
TOPIX Index   693   12/07/23  $111,344   $2,243,841 

 

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  $—   $13,039,761,414   $—   $13,039,761,414 
Short-Term Securities                    
Money Market Funds   5,120,000    —    —    5,120,000 
   $5,120,000   $13,039,761,414   $—   $13,044,881,414 

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Schedule of Investments (unaudited) (continued) iShares® MSCI Japan ETF
November 30, 2023

 

Fair Value Hierarchy as of Period End (continued)

 

   Level 1   Level 2   Level 3   Total 
Derivative Financial Instruments(a)                    
Assets                    
Equity Contracts  $—   $2,243,841   $—   $2,243,841 

 

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

 

Portfolio Abbreviation

 

NVS Non-Voting Shares
REIT Real Estate Investment Trust

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