NPORT-EX 2 NPORT_0BI8_83181155_1123.htm

 

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

 

Security  Shares   Value 
         
Common Stocks          
           
Aerospace & Defense — 2.7%          
Singapore Technologies Engineering Ltd.   4,521,600   $12,541,598 
           
Banks — 44.7%          
DBS Group Holdings Ltd.   3,816,400    90,657,336 
Oversea-Chinese Banking Corp. Ltd.   6,997,450    65,663,292 
United Overseas Bank Ltd.   2,561,500    52,278,323 
         208,598,951 
Capital Markets — 3.5%          
Singapore Exchange Ltd.(a)   2,291,900    16,177,052 
           
Diversified Telecommunication Services — 4.5% 
Singapore Telecommunications Ltd.   12,277,068    21,154,002 
           
Entertainment — 4.3%          
Sea Ltd., ADR(b)   549,823    19,914,590 
           
Food Products — 3.1%          
Wilmar International Ltd.   5,382,200    14,601,438 
           
Ground Transportation — 3.3%          
Grab Holdings Ltd., Class A(b)   5,125,834    15,582,535 
           
Hotels, Restaurants & Leisure — 2.6%          
Genting Singapore Ltd.   17,803,442    12,176,865 
           
Industrial Conglomerates — 5.7%          
Jardine Cycle & Carriage Ltd.   352,700    7,524,521 
Keppel Corp. Ltd.   3,851,200    19,211,897 
         26,736,418 
Industrial REITs — 7.1%          
CapitaLand Ascendas REIT   9,780,894    20,773,619 
Mapletree Logistics Trust   10,216,113    12,296,520 
         33,070,139 
Machinery — 2.3%          
Seatrium Ltd.(b)   134,800,315    10,588,229 
           
Multi-Utilities — 2.3%          
Sembcorp Industries Ltd.   2,768,200    10,639,798 
Security  Shares   Value 
         
Passenger Airlines — 4.0%          
Singapore Airlines Ltd.(a)   3,941,767   $18,691,876 
           
Real Estate Management & Development — 5.2% 
CapitaLand Investment Ltd/Singapore   3,890,300    8,810,490 
City Developments Ltd.   1,746,200    8,167,446 
UOL Group Ltd.   1,673,700    7,379,539 
         24,357,475 
Retail REITs — 4.3%          
CapitaLand Integrated Commercial Trust   8,752,994    11,906,211 
Mapletree Pan Asia Commercial Trust   8,087,200    8,280,708 
         20,186,919 
Total Long-Term Investments — 99.6%          
(Cost: $502,066,274)        465,017,885 

 

Short-Term Securities

 

Money Market Funds — 3.3%        
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.54%(c)(d)(e)   14,951,440    14,958,915 
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.34%(c)(d)   510,000    510,000 
           
Total Short-Term Securities — 3.3%          
(Cost: $15,466,947)        15,468,915 
           
Total Investments — 102.9%          
(Cost: $517,533,221)        480,486,800 
           
Liabilities in Excess of Other Assets — (2.9)%        (13,369,912)
           
Net Assets — 100.0%       $467,116,888 

 

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

(b) Non-income producing security.

(c) Affiliate of the Fund.

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

(e) 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  $2,785,173   $12,171,437(a)  $—   $544   $1,761   $14,958,915    14,951,440   $10,060(b)   $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   420,000    90,000(a)   —    —    —    510,000    510,000    5,056    — 
                  $544   $1,761   $15,468,915        $15,116   $— 

 

(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.

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

 

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                  
MSCI Singapore Index   87   12/28/23  $1,763   $(7,827)
                   

OTC Total Return Swaps

 

Reference Entity  Payment
Frequency		  Counterparty(a)   Termination
Date		  Net Notional   Accrued
Unrealized
Appreciation
(Depreciation)		   Net Value of
Reference
Entity		   Gross
Notional
Amount
Net Asset
Percentage		 
Equity Securities Long  Monthly  Goldman Sachs Bank USA(b)   08/19/26  $88,982   $(9)(c)  $88,796    0.0%
   Monthly  HSBC Bank PLC(d)   02/10/28   172,804    (3,184)(e)   169,700    0.1 
                 $(3,193)  $258,496      

 

(a) The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions.

(c) Amount includes $177 of net dividends and financing fees.

(e) Amount includes $(80) of net dividends, payable for referenced securities purchased and financing fees.

The following are the specified benchmarks (plus or minus a range) used in determining the variable rate of interest:

  (b) (d)
Range: 55 basis points 55 basis points
Benchmarks: SGD - Overnight Rate Average (SORA) SGD - Overnight Rate Average (SORA)

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

 

The following table represents the individual long positions and related values of equity securities underlying the total return swap with Goldman Sachs Bank USA as of period end, termination date August 19, 2026.

 

   Shares   Value   % of
Basket
Value		 
             
Reference Entity — Long               
                
Common Stocks               
Capital Markets               
Singapore Exchange Ltd.   12,600   $88,796    100.0%
                
Net Value of Reference Entity — Goldman Sachs Bank USA       $88,796      

The following table represents the individual long positions and related values of equity securities underlying the total return swap with HSBC Bank PLC as of period end, termination date February 10, 2028.

 

   Shares   Value   % of
Basket
Value		 
             
Reference Entity — Long               
                
Common Stocks               
Capital Markets               
Singapore Exchange Ltd.   24,100   $169,700    100.0%
                
Net Value of Reference Entity — HSBC Bank PLC       $169,700      

 

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  $35,497,125   $429,520,760   $—   $465,017,885 
Short-Term Securities                    
Money Market Funds   15,468,915    —    —    15,468,915 
   $50,966,040   $429,520,760   $—   $480,486,800 
Derivative Financial Instruments(a)                    
Liabilities                    
Equity Contracts  $—   $(11,020)  $—   $(11,020)

 

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

 

Portfolio Abbreviation

 

ADRAmerican Depositary Receipt

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