NPORT-EX 2 NPORT_0BI2_86082995_1123.htm

 

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

 

Security  Shares   Value 
         
Common Stocks          
           
Aerospace & Defense — 1.7%          
Leonardo SpA   287,586   $4,404,438 
Automobiles — 17.6%          
Ferrari NV   61,811    22,275,297 
Stellantis NV   1,091,241    23,717,460 
         45,992,757 
Banks — 24.9%          
Banco BPM SpA   1,271,754    7,023,963 
FinecoBank Banca Fineco SpA  589,974    7,961,312 
Intesa Sanpaolo SpA   7,540,505    21,736,233 
Mediobanca Banca di Credito Finanziario SpA   596,515    7,002,313 
UniCredit SpA   784,692    21,402,325 
         65,126,146 
Beverages — 2.4%          
Davide Campari-Milano NV   581,769    6,354,272 
           
Diversified Telecommunication Services — 3.9%          
Infrastrutture Wireless Italiane SpA(a)   454,819    5,624,196 
Telecom Italia SpA/Milano(b)(c)   16,100,823    4,672,366 
         10,296,562 
Electric Utilities — 15.3%          
Enel SpA   4,253,678    30,060,063 
Terna - Rete Elettrica Nazionale   1,247,762    10,053,367 
         40,113,430 
Electrical Equipment — 3.6%          
Prysmian SpA   240,749    9,286,563 
           
Energy Equipment & Services — 3.1%          
Tenaris SA, NVS   468,485    8,082,669 
           
Financial Services — 2.2%          
Nexi SpA(a)(b)   750,415    5,854,009 
           
Gas Utilities — 3.6%          
Snam SpA   1,860,718    9,375,589 
           
Health Care Equipment & Supplies — 1.6%          
DiaSorin SpA   42,747    4,051,527 
           
Health Care Providers & Services — 2.0%          
Amplifon SpA   171,032    5,316,038 
Security  Shares   Value 
         
Insurance — 7.0%          
Assicurazioni Generali SpA   569,877   $11,801,974 
Poste Italiane SpA(a)   609,897    6,573,380 
         18,375,354 
Oil, Gas & Consumable Fuels — 4.6%          
Eni SpA   731,205    12,125,201 
           
Pharmaceuticals — 2.3%          
Recordati Industria Chimica e Farmaceutica SpA   125,381    6,038,420 
           
Textiles, Apparel & Luxury Goods — 3.8%          
Moncler SpA   180,369    9,994,904 
           
Total Long-Term Investments — 99.6%          
(Cost: $275,163,737)        260,787,879 
           
Short-Term Securities          
           
Money Market Funds — 1.7%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.54%(d)(e)(f)   4,277,213    4,279,352 
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.34%(d)(e)   250,000    250,000 
           
Total Short-Term Securities — 1.7%          
(Cost: $4,528,867)        4,529,352 
           
Total Investments — 101.3%          
(Cost: $279,692,604)        265,317,231 
           
Liabilities in Excess of Other Assets — (1.3)%        (3,308,376)
           
Net Assets — 100.0%       $262,008,855 

 

(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) 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  $1,720,732   $2,558,470(a)  $—   $(290)  $440   $4,279,352    4,277,213   $1,656(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   140,000    110,000(a)   —    —    —    250,000    250,000    1,313    — 
                  $(290)  $440   $4,529,352        $2,969   $— 

 

(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 Italy 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                  
FTSE/MIB Index   7   12/15/23  $1,137   $6,767 

 

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  $4,672,366   $256,115,513   $—   $260,787,879 
Short-Term Securities                    
Money Market Funds   4,529,352    —    —    4,529,352 
   $9,201,718   $256,115,513   $—   $265,317,231 
Derivative Financial Instruments(a)                    
Assets                    
Equity Contracts  $—   $6,767   $—   $6,767 

 

(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

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