0001752724-24-015090.txt : 20240126 0001752724-24-015090.hdr.sgml : 20240126 20240126113836 ACCESSION NUMBER: 0001752724-24-015090 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231130 FILED AS OF DATE: 20240126 DATE AS OF CHANGE: 20240126 PERIOD START: 20240831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: iShares, Inc. CENTRAL INDEX KEY: 0000930667 ORGANIZATION NAME: IRS NUMBER: 510396525 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-09102 FILM NUMBER: 24565609 BUSINESS ADDRESS: STREET 1: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: (415) 670-2000 MAIL ADDRESS: STREET 1: 400 HOWARD STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 FORMER COMPANY: FORMER CONFORMED NAME: iSHARES INC DATE OF NAME CHANGE: 20070126 FORMER COMPANY: FORMER CONFORMED NAME: ISHARES INC DATE OF NAME CHANGE: 20000516 FORMER COMPANY: FORMER CONFORMED NAME: WEBS INDEX FUND INC DATE OF NAME CHANGE: 19970211 0000930667 S000004264 iShares MSCI Brazil ETF C000011968 iShares MSCI Brazil ETF EWZ NPORT-P 1 primary_doc.xml NPORT-P false 0000930667 XXXXXXXX S000004264 C000011968 iShares, Inc. 811-09102 0000930667 549300MGJZCNMJLBAJ67 400 HOWARD STREET SAN FRANCISCO 94105 800-474-2737 iShares MSCI Brazil ETF S000004264 5493006D2L7KY3ZDF809 2024-08-31 2023-11-30 N 5640083808.45 2649323.55 5637434484.90 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 14062202.37000000 N Hypera SA 25490092WKPBKTIZX403 Hypera SA 000000000 6605544.00000000 NS 45333809.35000000 0.804156739584 Long EC CORP BR N 1 N N N Banco do Brasil SA QE0Q0253K88YAGNPE356 Banco do Brasil SA 000000000 13199601.00000000 NS 145537397.28000000 2.581624632087 Long EC CORP BR N 1 N N N CCR SA N/A CCR SA 000000000 20187159.00000000 NS 55532579.49000000 0.985068290172 Long EC CORP BR N 1 N N N Suzano SA 391200AW174YQSDMGG41 Suzano SA 000000000 11443793.00000000 NS 125038792.28000000 2.218008787772 Long EC CORP BR N 1 N N N Ultrapar Participacoes SA 529900FU4XBXGQMLRE72 Ultrapar Participacoes SA 000000000 12914148.00000000 NS 66249273.58000000 1.175167068592 Long EC CORP BR N 1 N N N Natura & Co Holding SA N/A Natura & Co Holding SA 000000000 13543194.00000000 NS 45372816.01000000 0.804848661772 Long EC CORP BR N 1 N N N Banco Bradesco SA 549300CTUU1RFXHQJE44 Banco Bradesco SA 000000000 72695784.00000000 NS 240298332.13000000 4.262547667270 Long EP CORP BR N 1 N N N ICE Futures Europe - Financial Products Division N/A MSCI BRAZIL IX FU DEC23 000000000 2037.00000000 NC USD 4272168.90000000 0.075782147206 N/A DE GB N 1 ICE Futures Europe - Financial Products Division N/A Long MSCI Brazil Index Futures MCBZ3 Index 2023-12-15 115587355.50000000 USD 4272168.90000000 N N N Banco Bradesco SA 549300CTUU1RFXHQJE44 Banco Bradesco SA 000000000 18707160.00000000 NS 54273777.15000000 0.962738942605 Long EC CORP BR N 1 N N N Klabin SA N/A Klabin SA 000000000 11890763.00000000 NS 54524948.12000000 0.967194355270 Long EC CORP BR N 1 N N N Engie Brasil Energia SA 52990057Q0EK2Q9YBC07 Engie Brasil Energia SA 000000000 3906811.00000000 NS 34527540.05000000 0.612469025449 Long EC CORP BR N 1 N N N Eneva SA 549300T1AP7HKCABII19 Eneva SA 000000000 8498281.00000000 NS 21910217.47000000 0.388655824359 Long EC CORP BR N 1 N N N Banco BTG Pactual SA ZXLTQRYIK6IJH3R0IK66 Banco BTG Pactual SA 000000000 15202042.00000000 NS 109767388.12000000 1.947115987139 Long EC CORP BR N 1 N N N Vale SA 254900SMTWBX7RU2SR20 Vale SA 000000000 50156359.00000000 NS 752541545.12000000 13.34900737446 Long EC CORP BR N 1 N N N Petroleo Brasileiro SA 5493000J801JZRCMFE49 Petroleo Brasileiro SA 000000000 66185816.00000000 NS 482874544.66000000 8.565501664868 Long EP CORP BR N 1 N N N Cia Siderurgica Nacional SA 529900K40TEND42S0T46 Cia Siderurgica Nacional SA 000000000 11104809.00000000 NS 37045735.78000000 0.657138204962 Long EC CORP BR N 1 N N N Atacadao SA 549300SMI26ISJIRM371 Atacadao SA 000000000 9075092.00000000 NS 20908268.56000000 0.370882688144 Long EC CORP BR N 1 N N N Itau Unibanco Holding SA 5493002W2IVG62O3ZJ94 Itau Unibanco Holding SA 000000000 67462907.00000000 NS 432980817.37000000 7.680458522928 Long EP CORP BR N 1 N N N Gerdau SA 254900YDV6SEQQPZVG24 Gerdau SA 000000000 18039834.00000000 NS 80082561.72000000 1.420549754227 Long EP CORP BR N 1 N N N Telefonica Brasil SA 529900MTGG2HSDBIWG79 Telefonica Brasil SA 000000000 7497926.00000000 NS 80371100.61000000 1.425668020183 Long EC CORP BR N 1 N N N Vibra Energia SA 549300U7VLJ3SYVNY689 Vibra Energia SA 000000000 14637929.00000000 NS 69441724.92000000 1.231796575303 Long EC CORP BR N 1 N N N Hapvida Participacoes e Investimentos S/A N/A Hapvida Participacoes e Investimentos S/A 000000000 68305131.00000000 NS 60644126.42000000 1.075739799414 Long EC CORP BR N 1 N N N Localiza Rent a Car SA N/A Localiza Rent a Car SA 000000000 100005.00000000 NS 1147953.09000000 0.020363040902 Long EC CORP BR N 1 N N N BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES 5493008LW2651I1QB503 BlackRock Cash Funds: Treasury, SL Agency Shares 066922477 11640000.00000000 NS USD 11640000.00000000 0.206476900639 Long STIV RF US N 1 N N N Banco Santander Brasil SA 549300D1H731B30TSI43 Banco Santander Brasil SA 000000000 6726177.00000000 NS 42362732.40000000 0.751454096956 Long EC CORP BR N 1 N N N Localiza Rent a Car SA N/A Localiza Rent a Car SA 000000000 13647222.00000000 NS 166471126.64000000 2.952958958297 Long EC CORP BR N 1 N N N Itausa SA N/A Itausa SA 000000000 72172446.00000000 NS 142965095.54000000 2.535995689580 Long EP CORP BR N 1 N N N BB Seguridade Participacoes SA N/A BB Seguridade Participacoes SA 000000000 11217349.00000000 NS 71332681.24000000 1.265339427554 Long EC CORP BR N 1 N N N Cosan SA 549300PGFCX2JMKKLC96 Cosan SA 000000000 16799913.00000000 NS 60584198.81000000 1.074676769588 Long EC CORP BR N 1 N N N Energisa S/A N/A Energisa S/A 000000000 2514269.00000000 NS 26960944.69000000 0.478248479201 Long EC CORP BR N 1 N N N Rede D'Or Sao Luiz SA N/A Rede D'Or Sao Luiz SA 000000000 6915467.00000000 NS 37372928.39000000 0.662942132455 Long EC CORP BR N 1 N N N Equatorial Energia SA N/A Equatorial Energia SA 000000000 16307735.00000000 NS 112847584.66000000 2.001754254745 Long EC CORP BR N 1 N N N TIM SA/Brazil N/A TIM SA/Brazil 000000000 15455948.00000000 NS 54136090.35000000 0.960296576306 Long EC CORP BR N 1 N N N Cia de Saneamento Basico do Estado de Sao Paulo SABESP 254900UOXRZRS2TNWP19 Cia de Saneamento Basico do Estado de Sao Paulo SABESP 000000000 5685105.00000000 NS 78033683.89000000 1.384205600952 Long EC CORP BR N 1 N N N Lojas Renner SA N/A Lojas Renner SA 000000000 15335983.00000000 NS 51005179.08000000 0.904758702147 Long EC CORP BR N 1 N N N WEG SA 254900NKQV127YFRO022 WEG SA 000000000 24897021.00000000 NS 172941995.30000000 3.067742884874 Long EC CORP BR N 1 N N N JBS S/A 529900RM0MTMZL9O5050 JBS S/A 000000000 12300496.00000000 NS 58003171.88000000 1.028893054728 Long EC CORP BR N 1 N N N Magazine Luiza SA N/A Magazine Luiza SA 000000000 43696611.00000000 NS 17933006.41000000 0.318105806072 Long EC CORP BR N 1 N N N Petroleo Brasileiro SA 5493000J801JZRCMFE49 Petroleo Brasileiro SA 000000000 51575678.00000000 NS 395039274.41000000 7.007429983765 Long EC CORP BR N 1 N N N B3 SA - Brasil Bolsa Balcao 4GTK5S46E6H318LMDS44 B3 SA - Brasil Bolsa Balcao 000000000 80428721.00000000 NS 217328549.95000000 3.855096685063 Long EC CORP BR N 1 N N N Sendas Distribuidora S/A N/A Sendas Distribuidora S/A 000000000 13892285.00000000 NS 36494396.65000000 0.647358239776 Long EC CORP BR N 1 N N N CPFL Energia SA 529900GBWSBDXN8GGM28 CPFL Energia SA 000000000 3251831.00000000 NS 24477674.66000000 0.434198831499 Long EC CORP BR N 1 N N N Cia Energetica de Minas Gerais 254900W703PXLDSEM056 Cia Energetica de Minas Gerais 000000000 23024097.00000000 NS 51782642.15000000 0.918549781619 Long EP CORP BR N 1 N N N Centrais Eletricas Brasileiras SA 254900I8KYDELP4B4Z08 Centrais Eletricas Brasileiras SA 000000000 15768287.00000000 NS 130899159.26000000 2.321963290404 Long EC CORP BR N 1 N N N Raia Drogasil SA N/A Raia Drogasil SA 000000000 17738929.00000000 NS 101199525.87000000 1.795134402733 Long EC CORP BR N 1 N N N Rumo SA N/A Rumo SA 000000000 20567951.00000000 NS 95693070.55000000 1.697457785209 Long EC CORP BR N 1 N N N Centrais Eletricas Brasileiras SA 254900I8KYDELP4B4Z08 Centrais Eletricas Brasileiras SA 000000000 4417114.00000000 NS 40266942.67000000 0.714277793876 Long EP CORP BR N 1 N N N TOTVS SA N/A TOTVS SA 000000000 6080307.00000000 NS 41148510.51000000 0.729915542614 Long EC CORP BR N 1 N N N Ambev SA 549300TH5Q6VRP8OT012 Ambev SA 000000000 64167482.00000000 NS 178472959.15000000 3.165854248560 Long EC CORP BR N 1 N N N PRIO SA/Brazil N/A PRIO SA/Brazil 000000000 9604440.00000000 NS 89623618.05000000 1.589794405417 Long EC CORP BR N 1 N N N 2023-12-29 iShares, Inc. Chuck Pulsfort Chuck Pulsfort Assistant Treasurer XXXX NPORT-EX 2 NPORT_0BHW_63211900_1123.htm

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

 

Security  Shares   Value 
         
Common Stocks 
           
Banks — 4.3% 
Banco Bradesco SA   18,403,075   $53,391,557 
Banco do Brasil SA   13,184,595    145,371,943 
Banco Santander Brasil SA   6,726,177    42,362,732 
         241,126,232 
Beverages — 3.2% 
Ambev SA   64,167,482    178,472,959 
           
Broadline Retail — 0.3% 
Magazine Luiza SA(a)    43,696,611    17,933,006 
           
Capital Markets — 5.8% 
B3 SA - Brasil, Bolsa, Balcao   80,337,372    217,081,714 
Banco BTG Pactual SA   15,521,449    112,073,688 
         329,155,402 
Consumer Staples Distribution & Retail — 2.9% 
Atacadao SA   9,075,092    20,908,269 
Raia Drogasil SA   17,718,775    101,084,548 
Sendas Distribuidora SA   15,914,976    41,807,913 
         163,800,730 
Containers & Packaging — 1.0% 
Klabin SA   11,890,763    54,524,948 
           
Diversified Telecommunication Services — 1.4% 
Telefonica Brasil SA   7,488,540    80,270,491 
           
Electric Utilities — 5.3% 
Centrais Eletricas Brasileiras SA   16,239,108    134,807,642 
CPFL Energia SA   3,238,539    24,377,621 
Energisa SA   2,514,269    26,960,945 
Equatorial Energia SA   16,289,196    112,719,297 
         298,865,505 
Electrical Equipment — 3.1% 
WEG SA   24,868,719    172,745,401 
           
Food Products — 1.0% 
JBS SA   12,279,328    57,903,354 
           
Ground Transportation — 4.7% 
Localiza Rent a Car SA   13,631,594    166,280,494 
Localiza Rent a Car SA, NVS(a)    100,005    1,147,953 
Rumo SA   20,544,570    95,584,290 
         263,012,737 
Health Care Providers & Services — 1.7% 
Hapvida Participacoes e Investimentos SA(a)(b)    68,197,342    60,548,427 
Rede D’Or Sao Luiz SA(b)    6,915,467    37,372,928 
         97,921,355 
Independent Power and Renewable Electricity Producers — 1.0% 
Eneva SA(a)    9,058,602    23,354,834 
Engie Brasil Energia SA   3,906,811    34,527,540 
         57,882,374 
Insurance — 1.3% 
BB Seguridade Participacoes SA   11,201,848    71,234,108 
           
Metals & Mining — 13.4% 
Cia. Siderurgica Nacional SA   11,104,809    37,045,736 
Vale SA   47,779,407    716,877,969 
         753,923,705 
Oil, Gas & Consumable Fuels — 11.0% 
Cosan SA   16,771,922    60,483,257 
Petroleo Brasileiro SA   51,516,870    394,588,840 
PRIO SA(a)    10,480,336    97,797,022 
Security  Shares   Value 
         
Oil, Gas & Consumable Fuels (continued) 
Ultrapar Participacoes SA   12,894,045   $66,146,146 
         619,015,265 
Paper & Forest Products — 2.2% 
Suzano SA   11,430,786    124,896,673 
           
Personal Care Products — 0.8% 
Natura & Co. Holding SA(a)    13,543,194    45,372,816 
           
Pharmaceuticals — 0.8% 
Hypera SA   6,605,544    45,333,809 
           
Software — 0.7% 
TOTVS SA   6,170,820    41,761,058 
           
Specialty Retail — 2.1% 
Lojas Renner SA   15,302,928    50,895,243 
Vibra Energia SA   14,637,929    69,441,725 
         120,336,968 
Transportation Infrastructure — 1.0% 
CCR SA   20,187,159    55,532,580 
           
Water Utilities — 1.4% 
Cia. de Saneamento Basico do Estado de Sao Paulo   5,677,843    77,934,006 
           
Wireless Telecommunication Services — 1.0% 
Tim SA   15,455,948    54,136,090 
           
Total Common Stocks — 71.4% 
(Cost: $2,494,335,021)    4,023,091,572 
           
Preferred Stocks 
           
Banks — 14.4% 
Banco Bradesco SA, Preference Shares, NVS   71,878,332    237,596,217 
Itau Unibanco Holding SA, Preference Shares, NVS   67,175,576    431,136,711 
Itausa SA, Preference Shares, NVS   70,980,452    140,603,896 
         809,336,824 
Electric Utilities — 2.0% 
Centrais Eletricas Brasileiras SA, Class B, Preference  Shares, NVS   4,417,114    40,266,942 
Cia. Energetica de Minas Gerais, Preference  Shares, NVS   22,977,814    51,678,549 
Cia. Paranaense de Energia, Preference Shares, NVS   10,309,201    19,813,907 
         111,759,398 
Metals & Mining — 1.4% 
Gerdau SA, Preference Shares, NVS   18,017,802    79,984,757 
           
Oil, Gas & Consumable Fuels — 8.5% 
Petroleo Brasileiro SA, Preference Shares, NVS   66,110,537    482,325,329 
           
Total Preferred Stocks — 26.3% 
(Cost: $901,350,667)    1,483,406,308 
           
Total Long-Term Investments — 97.7% 
(Cost: $3,395,685,688)    5,506,497,880 

1

 

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

 

Security  Shares   Value 
         
Short-Term Securities 
           
Money Market Funds — 0.2% 
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.34%(c)(d)    11,640,000   $11,640,000 
           
Total Short-Term Securities — 0.2% 
(Cost: $11,640,000)    11,640,000 
           
Total Investments — 97.9% 
(Cost: $3,407,325,688)    5,518,137,880 
       
Other Assets Less Liabilities — 2.1%    119,173,509 
           
Net Assets — 100.0%   $5,637,311,389 

 

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

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  $12,030,000   $—   $(390,000)(a)   $—   $—   $11,640,000    11,640,000   $193,686   $— 

 

(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                  
Bclear MSCI Brazil Index   2,106   12/15/23  $123,920   $4,246,742 

 

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

2

 

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

 

Fair Value Hierarchy as of Period End (continued)

 

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  $4,023,091,572   $—   $—   $4,023,091,572 
Preferred Stocks   1,483,406,308    —    —    1,483,406,308 
Short-Term Securities                    
Money Market Funds   11,640,000    —    —    11,640,000 
   $5,518,137,880   $—   $—   $5,518,137,880 
Derivative Financial Instruments(a)                     
Assets                    
Equity Contracts  $4,246,742   $—   $—   $4,246,742 

 

(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

3