NPORT-EX 2 NPORT_2QP8_20354792_1123.htm

Schedule of Investments (unaudited) iShares® ESG Aware MSCI EM ETF
November 30, 2023

(Percentages shown are based on Net Assets) 

 

Security  Shares  Value  
         
Common Stocks          
           
Brazil — 3.8%          
Atacadao SA   1,784,829  $4,112,100  
B3 SA - Brasil, Bolsa, Balcao   4,466,493   12,069,027  
Banco do Brasil SA   475,702   5,245,040  
Banco Santander Brasil SA   1,101,567   6,937,877  
CCR SA   3,418,791   9,404,705  
Cosan SA   3,539,284   12,763,440  
Engie Brasil Energia SA   1,609,610   14,225,381  
Hapvida Participacoes e Investimentos SA(a)(b)   4,852,281   4,308,056  
Localiza Rent a Car SA   871,830   10,634,730  
Localiza Rent a Car SA, NVS(b)   8,323   95,539  
Lojas Renner SA   2,661,213   8,850,795  
Natura & Co. Holding SA(b)   1,423,192   4,768,021  
Petroleo Brasileiro SA   1,118,825   8,569,540  
PRIO SA(b)   416,152   3,883,313  
Raia Drogasil SA   1,337,783   7,631,972  
Rumo SA   876,529   4,078,080  
TOTVS SA   1,738,449   11,764,963  
Ultrapar Participacoes SA   2,427,931   12,455,229  
Vibra Energia SA   1,862,477   8,835,513  
        150,633,321  
Chile — 0.4%          
Empresas Copec SA   889,664   6,584,422  
Enel Americas SA(b)   93,138,416   10,843,633  
        17,428,055  
China — 27.0%          
37 Interactive Entertainment Network Technology Group Co. Ltd., Class A   1,567,400   4,862,514  
3SBio Inc.(a)   10,342,500   9,605,892  
AAC Technologies Holdings Inc.   1,835,000   5,159,723  
Agricultural Bank of China Ltd., Class A   11,860,800   6,074,356  
Agricultural Bank of China Ltd., Class H   31,288,000   11,549,439  
Alibaba Group Holding Ltd.(b)   9,511,568   88,413,914  
Alibaba Health Information Technology Ltd.(b)(c)   12,694,000   7,201,739  
Baidu Inc.(b)   1,362,562   20,219,206  
Bank of China Ltd., Class H   25,308,000   9,272,575  
Bosideng International Holdings Ltd.   9,850,000   4,130,396  
BYD Co. Ltd., Class A   247,155   6,879,302  
BYD Co. Ltd., Class H   808,500   21,729,733  
China Construction Bank Corp., Class A   6,846,500   6,128,228  
China Construction Bank Corp., Class H   61,005,000   35,272,688  
China International Capital Corp. Ltd., Class H(a)   2,365,600   3,736,600  
China Life Insurance Co. Ltd., Class H   2,645,000   3,582,515  
China Medical System Holdings Ltd.   5,705,000   10,958,623  
China Mengniu Dairy Co. Ltd.   4,938,000   15,472,660  
China Merchants Bank Co. Ltd., Class A   1,244,440   5,014,150  
China Merchants Bank Co. Ltd., Class H   3,706,000   12,933,999  
China Merchants Shekou Industrial Zone Holdings  Co. Ltd., Class A   3,282,500   4,786,304  
China Resources Beer Holdings Co. Ltd.   822,000   3,705,498  
China Resources Gas Group Ltd.   2,281,200   7,149,590  
China Resources Land Ltd.   2,430,000   8,896,692  
China Resources Pharmaceutical Group Ltd.(a)   7,430,500   4,631,739  
China Ruyi Holdings Ltd.(b)   16,352,000   3,705,278  
Chow Tai Fook Jewellery Group Ltd.(c)   4,004,800   5,814,184  
CMOC Group Ltd., Class A   12,800,900   9,339,262  
CMOC Group Ltd., Class H   13,539,000   7,736,476  
Contemporary Amperex Technology Co. Ltd., Class A   495,185   11,572,854  
CSC Financial Co. Ltd., Class A   1,068,000   3,852,849  
CSPC Pharmaceutical Group Ltd.   4,593,520   4,136,924  
Security  Shares  Value  
          
China (continued)          
ENN Energy Holdings Ltd.   1,305,700  $9,012,297  
Far East Horizon Ltd.   5,959,000   4,363,097  
Fosun International Ltd.   18,095,000   10,299,876  
Ganfeng Lithium Group Co. Ltd., Class A   921,550   5,030,300  
Geely Automobile Holdings Ltd.   7,109,000   7,735,160  
Greentown China Holdings Ltd.   3,759,500   3,999,519  
Haier Smart Home Co. Ltd., Class A   1,318,800   4,085,301  
Haier Smart Home Co. Ltd., Class H   2,420,200   7,017,722  
Haitong Securities Co. Ltd., Class A   2,982,600   4,055,379  
Hansoh Pharmaceutical Group Co. Ltd.(a)   3,088,000   6,240,778  
Huatai Securities Co. Ltd., Class A   4,055,702   8,124,773  
Huatai Securities Co. Ltd., Class H(a)   2,966,200   3,710,064  
Industrial & Commercial Bank of China Ltd., Class A   12,331,000   8,299,545  
Industrial & Commercial Bank of China Ltd., Class H   51,870,000   24,681,163  
JD Health International Inc.(a)(b)   803,400   3,819,457  
JD.com Inc.   1,399,378   19,087,651  
Jiangsu Hengrui Medicine Co. Ltd., Class A   612,600   4,116,490  
Kingboard Holdings Ltd.   1,704,000   4,101,136  
Kingdee International Software Group Co. Ltd.(b)   4,452,000   6,180,290  
Kuaishou Technology(a)(b)   1,538,500   11,343,899  
Lenovo Group Ltd.   18,596,000   22,949,644  
Li Auto Inc.(b)   1,419,128   26,239,465  
Meituan, Class B(a)(b)   2,779,230   32,173,750  
Microport Scientific Corp.(b)   2,404,700   3,852,360  
NetEase Inc.   1,325,170   29,893,657  
NIO Inc., ADR(b)(c)   1,134,492   8,247,757  
Nongfu Spring Co. Ltd., Class H(a)   1,919,800   10,950,115  
Pinduoduo Inc., ADR(b)(c)   293,863   43,327,161  
Ping An Insurance Group Co. of China Ltd., Class H   5,394,000   24,740,393  
Pop Mart International Group Ltd.(a)   1,357,000   4,072,017  
Shanghai Electric Group Co. Ltd., Class A(b)   7,581,900   4,680,400  
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A   1,240,184   4,842,319  
Shanghai Pharmaceuticals Holding Co. Ltd., Class A   1,977,800   4,973,020  
Shanghai Pharmaceuticals Holding Co. Ltd., Class H   3,014,100   4,369,283  
Shanghai Putailai New Energy Technology Co. Ltd., Class A   1,422,501   4,568,390  
Shenzhen Inovance Technology Co. Ltd., Class A   452,700   4,181,654  
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A   319,000   12,966,039  
Sino Biopharmaceutical Ltd.   11,952,000   5,875,550  
Sinopharm Group Co. Ltd., Class H   1,577,200   3,908,703  
Sungrow Power Supply Co. Ltd., Class A   347,567   4,041,957  
Sunny Optical Technology Group Co. Ltd.   656,900   6,220,867  
TCL Technology Group Corp., Class A(b)   13,348,240   7,809,944  
Tencent Holdings Ltd.   3,714,900   154,759,562  
Tianqi Lithium Corp., Class A   527,000   3,693,200  
Tongcheng Travel Holdings Ltd.(b)   5,899,600   10,845,643  
Trip.com Group Ltd.(b)   143,721   5,047,981  
Vipshop Holdings Ltd., ADR(b)   640,445   10,266,333  
WuXi AppTec Co. Ltd., Class A   829,900   9,571,956  
WuXi AppTec Co. Ltd., Class H(a)(c)   344,280   4,027,338  
Wuxi Biologics Cayman Inc.(a)(b)(c)   4,423,500   24,559,635  
Xiaomi Corp., Class B(a)(b)   3,836,400   7,671,523  
XPeng Inc.(b)   1,552,596   12,938,872  
Yadea Group Holdings Ltd.(a)   6,036,000   11,350,320  
Yum China Holdings Inc.   455,463   19,666,892  
Yunnan Baiyao Group Co. Ltd., Class A   1,188,620   8,365,008  

1

 

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

 

Security  Shares  Value  
           
China (continued)          
Yunnan Energy New Material Co. Ltd., Class A   578,000  $4,761,565  
        1,081,240,072  
Colombia — 0.1%          
Bancolombia SA   572,826   4,524,582  
           
Egypt — 0.1%          
Commercial International Bank Egypt SAE   2,537,904   3,934,327  
           
Greece — 0.8%          
Motor Oil Hellas Corinth Refineries SA   189,990   5,128,744  
Mytilineos SA   390,690   15,624,283  
OPAP SA   743,089   11,883,002  
        32,636,029  
Hungary — 0.3%          
MOL Hungarian Oil & Gas PLC   1,578,115   12,565,249  
           
India — 15.7%          
ABB India Ltd.   79,988   4,242,735  
Ashok Leyland Ltd.   3,010,126   6,613,077  
Asian Paints Ltd.   712,622   26,660,944  
Astral Ltd.   306,189   7,167,292  
AU Small Finance Bank Ltd.(a)   934,582   8,326,820  
Axis Bank Ltd.   1,435,710   18,536,441  
Bajaj Finance Ltd.   171,122   14,628,526  
Bandhan Bank Ltd.(a)   1,557,416   4,228,414  
Bharti Airtel Ltd.   2,184,462   26,621,609  
Dabur India Ltd.   1,535,189   9,900,978  
DLF Ltd.   905,229   6,801,644  
Eicher Motors Ltd.   90,092   4,215,278  
Havells India Ltd.   261,817   4,094,004  
HCL Technologies Ltd.   1,552,514   25,016,565  
HDFC Bank Ltd.   2,288,212   42,898,015  
Hero MotoCorp Ltd.   275,270   12,621,718  
Hindalco Industries Ltd.   832,255   5,161,334  
Hindustan Unilever Ltd.   794,469   24,259,014  
ICICI Bank Ltd.   4,069,121   45,442,834  
ICICI Prudential Life Insurance Co. Ltd.(a)   1,469,650   9,920,374  
IDFC First Bank Ltd.(b)   13,278,525   13,595,391  
Indian Hotels Co. Ltd. (The), Class A   1,303,489   6,597,909  
Info Edge India Ltd.   84,313   4,670,321  
Infosys Ltd.   2,819,551   49,283,093  
Kotak Mahindra Bank Ltd.   1,217,856   25,674,312  
Mahindra & Mahindra Ltd.   565,103   11,178,304  
Mahindra & Mahindra Ltd., GDR   609,568   12,160,882  
Marico Ltd.   3,661,311   23,661,323  
PI Industries Ltd.   181,540   8,208,879  
Power Grid Corp. of India Ltd.   3,408,593   8,548,918  
Reliance Industries Ltd.   2,118,717   60,472,483  
Supreme Industries Ltd.   218,236   11,611,314  
Tata Consultancy Services Ltd.   358,014   15,001,148  
Tata Consumer Products Ltd.   1,087,610   12,281,072  
Tata Elxsi Ltd.   44,209   4,381,488  
Tech Mahindra Ltd.   398,417   5,840,768  
Titan Co. Ltd.   199,969   8,378,159  
Trent Ltd.   172,600   5,768,252  
TVS Motor Co. Ltd.   588,683   13,184,118  
United Spirits Ltd.   362,777   4,568,201  
Varun Beverages Ltd.   404,835   5,364,223  
Zomato Ltd.(b)   8,738,241   12,448,375  
        630,236,549  
Indonesia — 1.6%          
Bank Central Asia Tbk PT   18,776,900   10,867,757  
Security  Shares  Value  
           
Indonesia (continued)          
Bank Negara Indonesia Persero Tbk PT   9,062,700  $3,082,253  
Bank Rakyat Indonesia Persero Tbk PT   39,683,700   13,505,325  
Barito Pacific Tbk PT   53,307,100   3,591,613  
GoTo Gojek Tokopedia Tbk PT(b)   676,719,600   4,238,057  
Kalbe Farma Tbk PT   124,175,300   12,944,650  
Merdeka Copper Gold Tbk PT(b)   43,367,500   7,074,131  
Telkom Indonesia Persero Tbk PT   18,818,900   4,575,926  
Unilever Indonesia Tbk PT   17,565,900   4,134,716  
        64,014,428  
Kazakhstan — 0.0%          
Polymetal International PLC(b)(d)   1,747,485   196  
           
Kuwait — 0.3%          
Kuwait Finance House KSCP   4,512,727   10,214,173  
           
Malaysia — 2.3%          
AMMB Holdings Bhd   11,923,300   10,136,535  
Axiata Group Bhd   10,551,600   5,118,829  
CIMB Group Holdings Bhd   7,820,100   9,482,867  
Malayan Banking Bhd   9,387,700   18,096,290  
Maxis Bhd   12,713,400   10,641,112  
Press Metal Aluminium Holdings Bhd   5,394,800   5,557,472  
Public Bank Bhd   25,669,300   23,529,529  
Sime Darby Bhd   18,802,700   9,973,905  
        92,536,539  
Mexico — 2.0%          
Arca Continental SAB de CV   1,184,196   12,091,842  
Cemex SAB de CV, NVS(b)   9,295,193   6,459,567  
Fomento Economico Mexicano SAB de CV   1,712,861   21,782,925  
Grupo Bimbo SAB de CV, Series A   1,302,474   6,572,175  
Grupo Financiero Banorte SAB de CV, Class O   2,210,117   20,551,919  
Wal-Mart de Mexico SAB de CV   3,544,086   13,893,935  
        81,352,363  
Netherlands — 0.6%          
NEPI Rockcastle NV   3,680,732   22,649,157  
           
Peru — 0.2%          
Credicorp Ltd.   68,106   8,549,346  
           
Poland — 0.8%          
Allegro.eu SA (a)(b)   1,588,820   11,489,964  
Budimex SA   37,306   5,170,292  
KGHM Polska Miedz SA   285,243   8,219,532  
ORLEN SA   265,412   3,918,296  
Santander Bank Polska SA(b)   32,160   3,993,373  
        32,791,457  
Qatar — 0.6%          
Qatar Fuel QSC   474,481   2,071,844  
Qatar National Bank QPSC   5,072,054   21,849,002  
        23,920,846  
Russia — 0.0%          
Gazprom PJSC(b)(d)   7,224,690   803  
LUKOIL PJSC(d)   725,046   81  
Novatek PJSC(d)   1,686,230   187  
Novolipetsk Steel PJSC(b)(d)   5,130,970   570  
PhosAgro PJSC(b)(d)   249,741   28  
PhosAgro PJSC, New(d)   4,826   48  
Polyus PJSC(b)(d)   43,646   5  
Rosneft Oil Co. PJSC(d)   759,129   84  
Sberbank of Russia PJSC(d)   10,004,860   1,112  
TCS Group Holding PLC, GDR(b)(d)(e)   124,025   14  

2

 

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

 

Security  Shares  Value  
           
Russia (continued)          
Yandex NV(b)(d)   87,150  $10  
        2,942  
Saudi Arabia — 3.3%          
Al Rajhi Bank   1,355,798   27,636,068  
Alinma Bank   1,072,478   10,240,268  
Bank AlBilad   616,392   6,285,784  
Dr Sulaiman Al Habib Medical Services Group Co.   211,169   15,829,304  
Etihad Etisalat Co.   1,332,562   16,410,600  
Mobile Telecommunications Co.   1,699,002   6,394,288  
Riyad Bank   1,401,328   9,979,819  
Saudi Arabian Mining Co.(b)   705,687   7,499,707  
Saudi Basic Industries Corp.   1,067,840   22,573,634  
Savola Group (The)   916,729   9,163,625  
        132,013,097  
South Africa — 3.4%          
Absa Group Ltd.   430,878   3,973,925  
Bidvest Group Ltd. (The)   472,397   5,908,204  
FirstRand Ltd.   3,598,407   12,871,326  
Gold Fields Ltd.   1,037,775   15,902,235  
Impala Platinum Holdings Ltd.   906,574   3,686,324  
Kumba Iron Ore Ltd.   339,160   10,655,755  
MTN Group Ltd.   1,048,041   5,725,556  
Naspers Ltd., Class N   133,265   24,576,536  
Nedbank Group Ltd.   802,958   9,106,686  
Standard Bank Group Ltd.   583,790   6,200,461  
Vodacom Group Ltd.   4,639,947   23,875,067  
Woolworths Holdings Ltd.   3,875,492   13,876,836  
        136,358,911  
South Korea — 12.4%          
CJ CheilJedang Corp.   43,080   10,304,003  
DB Insurance Co. Ltd.   70,599   4,555,149  
Ecopro Co. Ltd.   6,960   4,015,112  
Hana Financial Group Inc.   339,511   10,924,287  
Hanwha Aerospace Co. Ltd.   49,008   4,793,037  
Hanwha Solutions Corp.(b)   153,268   3,951,279  
Kakao Corp.   450,350   17,570,305  
KB Financial Group Inc.   621,796   25,140,994  
LG Chem Ltd.   27,294   10,559,090  
LG Corp.   1   65  
LG Display Co. Ltd.(b)   435,750   4,217,070  
LG Electronics Inc.   53,693   4,274,132  
LG H&H Co. Ltd.   14,763   3,816,192  
NAVER Corp.   188,584   30,313,721  
NCSoft Corp.   20,152   4,080,482  
POSCO Future M Co. Ltd.(c)   19,214   4,808,747  
POSCO Holdings Inc.   53,798   20,090,621  
Samsung C&T Corp.   53,556   4,938,168  
Samsung Electro-Mechanics Co. Ltd.   81,996   9,239,900  
Samsung Electronics Co. Ltd.   3,003,866   169,381,123  
Samsung Engineering Co. Ltd.(b)   196,150   3,824,459  
Samsung Fire & Marine Insurance Co. Ltd.   26,353   5,296,771  
Samsung SDI Co. Ltd.   32,344   11,777,296  
Samsung Securities Co. Ltd.   565,121   17,132,124  
Shinhan Financial Group Co. Ltd.   494,572   14,108,127  
SK Hynix Inc.   358,575   37,206,270  
SK Inc.   287,409   36,361,783  
SK Innovation Co. Ltd.(b)   78,637   8,705,530  
SKC Co. Ltd.(c)   53,404   3,992,609  
Woori Financial Group Inc.   1,086,886   10,956,669  
        496,335,115  
Security  Shares  Value  
           
Taiwan — 17.5%          
Accton Technology Corp.   230,000  $3,924,136  
Acer Inc.   26,017,000   29,348,524  
ASE Technology Holding Co. Ltd.   1,526,000   6,231,607  
Asustek Computer Inc.   425,000   5,358,656  
Cathay Financial Holding Co. Ltd.   15,088,769   22,457,052  
Chailease Holding Co. Ltd.   1,123,331   6,674,562  
Chunghwa Telecom Co. Ltd.   2,909,000   11,121,445  
Compal Electronics Inc.   3,921,000   3,878,326  
CTBC Financial Holding Co. Ltd.   22,954,000   20,090,345  
Delta Electronics Inc.   2,521,000   25,498,157  
E.Sun Financial Holding Co. Ltd.   51,075,836   41,828,433  
Far EasTone Telecommunications Co. Ltd.   4,781,000   12,681,907  
First Financial Holding Co. Ltd.   56,010,213   49,630,268  
Fubon Financial Holding Co. Ltd.   12,126,136   24,990,616  
Hotai Motor Co. Ltd.   176,000   4,000,000  
Lite-On Technology Corp.   3,292,000   11,572,203  
MediaTek Inc.   797,000   24,068,998  
Mega Financial Holding Co. Ltd.   16,886,982   21,343,736  
momo.com Inc.   276,000   4,573,315  
Quanta Computer Inc.   905,000   5,858,203  
SinoPac Financial Holdings Co. Ltd.   29,884,962   18,068,187  
Taishin Financial Holding Co. Ltd.   21,345,438   12,501,551  
Taiwan Semiconductor Manufacturing Co. Ltd.   16,882,000   308,807,553  
United Microelectronics Corp.   8,478,000   13,257,563  
Voltronic Power Technology Corp.   170,000   8,735,157  
Wistron Corp.   2,457,000   7,158,510  
        703,659,010  
Thailand — 2.8%          
Advanced Info Service PCL, NVDR   3,112,200   19,304,550  
Asset World Corp. PCL, NVDR   59,754,200   6,292,313  
Bangkok Dusit Medical Services PCL, NVDR   16,208,800   12,103,992  
BTS Group Holdings PCL, NVDR   55,204,200   11,394,054  
Delta Electronics Thailand PCL, NVDR   3,830,500   8,481,409  
PTT Exploration & Production PCL, NVDR   2,439,100   10,470,311  
PTT Oil & Retail Business PCL, NVDR   19,144,800   10,830,262  
PTT Public Company Ltd., NVDR   22,448,300   22,175,449  
Siam Cement PCL (The), NVDR   1,372,200   11,199,205  
        112,251,545  
Turkey — 0.7%          
Aselsan Elektronik Sanayi Ve Ticaret AS   3,448,956   5,833,612  
Haci Omer Sabanci Holding AS   4,773,982   10,076,942  
KOC Holding AS   811,980   3,973,667  
Yapi ve Kredi Bankasi AS   11,953,827   7,962,566  
        27,846,787  
United Arab Emirates — 1.3%          
Abu Dhabi Commercial Bank PJSC   5,236,032   11,976,057  
Abu Dhabi Islamic Bank PJSC   2,773,842   7,703,962  
Aldar Properties PJSC   2,471,052   3,848,666  
Emirates Telecommunications Group Co. PJSC   2,865,647   15,075,166  
First Abu Dhabi Bank PJSC   3,777,988   14,113,898  
       52,717,749  
           
Total Common Stocks — 98.0%          
(Cost: $3,953,400,909)      3,930,411,845  
           

Preferred Stocks

       
Brazil — 1.3%      
Banco Bradesco SA, Preference Shares, NVS   2,091,887   6,914,802 
Cia. Energetica de Minas Gerais, Preference Shares, NVS   5,154,834   11,593,546 
Gerdau SA, Preference Shares, NVS   1,267,194   5,625,337 

3

 

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

 

Security  Shares  Value  
           
Brazil (continued)          
Itau Unibanco Holding SA, Preference Shares, NVS   629,128  $4,037,779  
Petroleo Brasileiro SA, Preference Shares, NVS   3,552,404   25,917,418  
        54,088,882  
Chile — 0.1%          
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares   76,068   3,849,808  
           
Colombia — 0.2%          
Bancolombia SA, Preference Shares, NVS   899,894   6,229,579  
           
South Korea — 0.3%          
Samsung Electronics Co. Ltd., Preference Shares, NVS   270,700   12,143,982  
           
Total Preferred Stocks — 1.9%          
(Cost: $66,705,619)      76,312,251  
           

Rights 

       
Thailand — 0.0%      
SCC Rates,
(Expires 12/11/23, Strike Price THB 11.50)		   164,955    — 
           
Total Rights — 0.0%          
(Cost: $—)       — 
           
Total Long-Term Investments — 99.9%          
(Cost: $4,020,106,528)       4,006,724,096 
Security  Shares  Value
       
Short-Term Securities          
           
Money Market Funds — 0.8%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.54%(f)(g)(h)   30,579,717   $30,595,007 
           
Total Short-Term Securities — 0.8%          
(Cost: $30,584,653)       30,595,007 
           
Total Investments — 100.7%          
(Cost: $4,050,691,181)       4,037,319,103 
           
Liabilities in Excess of Other Assets — (0.7)%       (28,412,257)
           
Net Assets — 100.0%      $4,008,906,846 

 

 (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) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(e) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

(f) Affiliate of the Fund.

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

(h) 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  $35,144,856   $—   $(4,556,686)(a)   $1,283   $5,554   $30,595,007   30,579,717   $66,428(b)    $— 
BlackRock Cash Funds: Treasury, SL Agency Shares(c)    —    —    0(a)    —    —    —   —    46,478    — 
                  $1,283   $5,554   $30,595,007       $112,906   $— 

 

(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.

(c) As of period end, the entity is no longer held.

 

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                     
MSCI Emerging Markets Index   21    12/15/23   $1,036   $3,274  

4

 

Schedule of Investments (unaudited) (continued) iShares® ESG Aware MSCI EM ETF
November 30, 2023  

 

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  $593,022,831   $3,337,385,876   $3,138   $3,930,411,845  
Preferred Stocks   60,318,461    15,993,790    —    76,312,251  
Rights   —    —    —    —  
Short-Term Securities                     
Money Market Funds   30,595,007    —    —    30,595,007  
   $683,936,299   $3,353,379,666   $3,138   $4,037,319,103  
Derivative Financial Instruments(a)                     
Assets                     
Equity Contracts  $3,274   $—   $—   $3,274  

 

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

 

Portfolio Abbreviation

 

ADR American Depositary Receipt
GDR Global Depositary Receipt
NVDR Non-Voting Depositary Receipt
NVS Non-Voting Shares
PJSC Public Joint Stock Company

5