NPORT-EX 2 NPORT_0BI6_53949717_1123.htm

 

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

 

Security  Shares   Value 
         
Common Stocks          
           
Air Freight & Logistics — 1.0%          
InPost SA(a)   139,150   $1,642,341 
PostNL NV   376,067    590,578 
         2,232,919 
Banks — 8.6%          
ABN AMRO Bank NV, CVA(b)   175,348    2,356,563 
ING Groep NV   1,169,913    16,436,087 
         18,792,650 
Beverages — 7.3%          
Coca-Cola Europacific Partners PLC   69,800    4,232,672 
Heineken Holding NV   44,440    3,457,008 
Heineken NV   89,839    8,224,140 
         15,913,820 
Biotechnology — 0.3%          
Pharming Group NV(a)   623,099    719,534 
           
Broadline Retail — 7.4%          
Prosus NV   486,109    16,071,314 
           
Capital Markets — 1.3%          
Allfunds Group PLC   180,140    1,139,726 
Flow Traders Ltd., NVS   35,881    666,694 
Van Lanschot Kempen NV   30,921    974,230 
         2,780,650 
Chemicals — 5.6%          
Akzo Nobel NV   60,706    4,672,998 
Corbion NV   43,285    818,615 
DSM-Firmenich AG   59,428    5,615,568 
OCI NV   53,087    1,143,609 
         12,250,790 
Construction & Engineering — 1.0%          
Fugro NV(a)   69,015    1,272,047 
Koninklijke BAM Groep NV   306,536    838,533 
         2,110,580 
Consumer Staples Distribution & Retail — 4.2%          
Koninklijke Ahold Delhaize NV   298,566    8,646,328 
Sligro Food Group NV   25,905    440,901 
         9,087,229 
Diversified Telecommunication Services — 1.8%          
Koninklijke KPN NV   1,131,228    3,874,832 
           
Electrical Equipment — 1.6%          
Alfen Beheer BV(a)(b)(c)   16,577    837,216 
Signify NV(b)   54,453    1,584,532 
TKH Group NV   24,934    993,439 
         3,415,187 
Energy Equipment & Services — 0.5%          
SBM Offshore NV   79,511    1,059,766 
           
Entertainment — 3.2%          
Universal Music Group NV   259,430    6,854,401 
           
Financial Services — 5.4%          
Adyen NV(a)(b)   6,798    7,948,601 
EXOR NV, NVS   38,034    3,705,844 
         11,654,445 
Food Products — 0.6%          
JDE Peet’s NV   51,852    1,389,576 
           
Health Care Equipment & Supplies — 2.9%          
Koninklijke Philips NV(a)   307,162    6,303,344 
Security  Shares   Value 
           
Hotels, Restaurants & Leisure — 1.1%          
Basic-Fit NV(a)(b)(c)   34,730   $991,349 
Just Eat Takeaway.com NV(a)(b)   85,947    1,345,306 
         2,336,655 
Insurance — 4.5%          
Aegon NV   622,422    3,417,703 
ASR Nederland NV   58,835    2,712,501 
NN Group NV   93,600    3,572,153 
         9,702,357 
Machinery — 0.8%          
Aalberts NV   41,732    1,652,181 
           
Metals & Mining — 0.3%          
AMG Critical Materials NV   29,560    703,400 
           
Office REITs — 0.2%          
NSI NV   23,659    445,524 
           
Oil, Gas & Consumable Fuels — 0.7%          
Koninklijke Vopak NV   41,615    1,429,318 
           
Professional Services — 6.7%          
Arcadis NV   34,920    1,753,859 
Brunel International NV   23,590    272,869 
Randstad NV   44,632    2,655,390 
Wolters Kluwer NV   72,141    9,936,904 
         14,619,022 
Retail REITs — 0.8%          
Eurocommercial Properties NV   34,646    809,808 
Vastned Retail NV   13,260    279,471 
Wereldhave NV   37,827    634,191 
         1,723,470 
Semiconductors & Semiconductor Equipment — 27.8%          
ASM International NV   15,536    7,979,492 
ASML Holding NV   70,657    48,154,619 
BE Semiconductor Industries NV   30,474    4,278,156 
         60,412,267 
Software — 0.3%          
TomTom NV(a)(c)   85,230    564,222 
           
Specialty Retail — 0.1%          
Fastned BV(a)   7,729    229,675 
           
Trading Companies & Distributors — 3.9%          
AerCap Holdings NV(a)   79,427    5,418,510 
IMCD NV   20,294    3,132,116 
         8,550,626 
Total Long-Term Investments — 99.9%          
(Cost: $263,665,205)        216,879,754 
         
Short-Term Securities          
           
Money Market Funds — 0.1%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.54%(d)(e)(f)   232,850    232,966 

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

 

Security  Shares   Value 
         
Money Market Funds (continued)          
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.34%(d)(e)   80,000   $80,000 
           
Total Short-Term Securities — 0.1%          
(Cost: $312,920)        312,966 
           
Total Investments — 100.0%          
(Cost: $263,978,125)        217,192,720 
           
Liabilities in Excess of Other Assets — (0.0)%        (5,978)
           
Net Assets — 100.0%       $217,186,742 

 

(a) Non-income producing security.

(b) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

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

(d) Affiliate of the Fund.

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

 

(f) 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 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   $ 11,023,471     $     $ (10,791,433 )(a)  $ 882     $ 46     $ 232,966       232,850     $ 14,125 (b)    $  
BlackRock Cash Funds: Treasury, SL Agency Shares     160,000             (80,000 )(a)                80,000       80,000       935        
                            $ 882     $ 46     $ 312,966             $ 15,060     $  

 

(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.

 

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                    
Euro STOXX 50 Index   5    12/15/23   $240   $13,653 

 

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).

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Schedule of Investments (unaudited) (continued) iShares® MSCI Netherlands ETF
November 30, 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                    
Common Stocks  $12,382,651   $204,497,103   $   $216,879,754 
Short-Term Securities                    
Money Market Funds   312,966            312,966 
   $12,695,617   $204,497,103   $   $217,192,720 
Derivative Financial Instruments(a)                    
Assets                    
Equity Contracts  $   $13,653   $   $13,653 

 

(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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