NPORT-EX 2 NPORT_0BID_98625387_1123.htm

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

 

Security  Shares   Value 
         
Common Stocks          
           
Banks — 0.4%          
Banque Cantonale Vaudoise, Registered   36,877   $4,494,258 
           
Building Products — 1.3%          
Geberit AG, Registered   29,278    16,425,362 
           
Capital Markets — 7.5%          
Julius Baer Group Ltd.   187,914    9,508,080 
Partners Group Holding AG   19,182    25,291,285 
UBS Group AG, Registered   2,022,158    57,141,306 
         91,940,671 
Chemicals — 5.8%          
Clariant AG, Registered   269,615    4,037,269 
EMS-Chemie Holding AG, Registered   7,687    5,450,217 
Givaudan SA, Registered   7,733    28,940,030 
Sika AG, Registered   120,847    32,840,060 
         71,267,576 
Construction Materials — 2.6%          
Holcim AG   434,909    31,991,788 
           
Containers & Packaging — 0.6%          
SIG Group AG   305,221    7,122,902 
           
Diversified Telecommunication Services — 1.1%
Swisscom AG, Registered   23,039    13,454,420 
           
Electric Utilities — 0.4%          
BKW AG   25,110    4,427,226 
           
Electrical Equipment — 4.2%          
ABB Ltd., Registered   1,278,011    50,824,625 
           
Food Products — 21.6%          
Barry Callebaut AG, Registered   3,640    6,066,067 
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS           881               10,893,302    
Chocoladefabriken Lindt & Spruengli AG, Registered   98    11,986,706 
Nestle SA, Registered   2,061,665    234,593,962 
         263,540,037 
Health Care Equipment & Supplies — 4.8%          
Alcon Inc.   414,003    31,228,104 
Sonova Holding AG, Registered   45,839    13,234,372 
Straumann Holding AG   99,257    13,650,534 
         58,113,010 
Insurance — 9.2%          
Baloise Holding AG, Registered   46,384    7,103,035 
Helvetia Holding AG, Registered   40,069    5,480,935 
Swiss Life Holding AG, Registered   25,725    16,519,534 
Swiss Re AG   252,394    29,807,906 
Zurich Insurance Group AG   107,901    54,060,150 
         112,971,560 
Life Sciences Tools & Services — 2.2%          
Bachem Holding AG, Class B   43,744    3,254,025 
Lonza Group AG, Registered   61,145    23,670,501 
         26,924,526 
Machinery — 2.1%          
Schindler Holding AG, Participation Certificates, NVS   39,099    8,760,639 
Security  Shares   Value 
           
Machinery (continued)          
Schindler Holding AG, Registered   25,718   $5,519,134 
VAT Group AG(a)   24,896    11,558,852 
         25,838,625 
Marine Transportation — 1.1%          
Kuehne + Nagel International AG, Registered   48,474    14,031,840 
           
Pharmaceuticals — 25.1%          
Novartis AG, Registered   1,559,768    152,246,228 
Roche Holding AG, NVS   533,776    143,596,945 
Roche Holding AG, Bearer   7,454    2,123,649 
Sandoz Group AG(b)   299,408    8,551,096 
         306,517,918 
Professional Services — 1.6%          
Adecco Group AG, Registered   158,825    7,660,227 
SGS SA   136,967    11,656,277 
         19,316,504 
Real Estate Management & Development — 0.6%          
Swiss Prime Site AG, Registered   76,193    7,661,560 
           
Software — 0.5%          
Temenos AG, Registered   69,426    5,891,487 
           
Specialty Retail — 0.3%          
Dufry AG, Registered(b)   112,661    3,935,727 
           
Technology Hardware, Storage & Peripherals — 1.1%
Logitech International SA, Registered   147,796    12,920,332 
           
Textiles, Apparel & Luxury Goods — 4.7%          
Cie. Financiere Richemont SA, Class A, Registered   368,299    46,063,101 
Swatch Group AG (The), Bearer   28,426    7,459,339 
Swatch Group AG (The), Registered   70,704    3,539,920 
         57,062,360 
Total Long-Term Investments — 98.8%          
(Cost: $1,167,441,554)        1,206,674,314 
           
Short-Term Securities          
           
Money Market Funds — 0.1%          
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.34%(c)(d)   460,000    460,000 
           
Total Short-Term Securities — 0.1%          
(Cost: $460,000)        460,000 
           
Total Investments — 98.9%          
(Cost: $1,167,901,554)        1,207,134,314 
Other Assets Less Liabilities — 1.1%        13,774,941 
Net Assets — 100.0%       $1,220,909,255 

 

(a) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.
(b) Non-income producing security.
(c) Affiliate of the Fund.
(d) Annualized 7-day yield as of period end.

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Schedule of Investments (unaudited) (continued) iShares® MSCI Switzerland ETF
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: Treasury, SL Agency Shares  $590,000   $—   $(130,000)(a)   $—   $—   $460,000    460,000   $4,942   $— 

 

(a) Represents net amount purchased (sold).

 

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                  
Swiss Market Index   114   12/15/23  $14,187   $(157,238)

 

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  $8,551,096   $1,198,123,218   $—   $1,206,674,314 
Short-Term Securities                    
Money Market Funds   460,000    —    —    460,000 
   $9,011,096   $1,198,123,218   $—   $1,207,134,314 
Derivative Financial Instruments(a)                    
Liabilities                    
Equity Contracts  $—   $(157,238)  $—   $(157,238)

 

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

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

 

Portfolio Abbreviation
 
NVS Non-Voting Shares

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