NPORT-EX 2 NPORT_2QWB_29025731_0124.htm

Schedule of Investments (unaudited) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Corporate Bonds & Notes        
         
Argentina — 0.8%          
Pampa Energia SA, 7.50%, 01/24/27 (Call 03/01/24)(a)  $250   $236,500 
Transportadora de Gas del Sur SA, 6.75%, 05/02/25 (Call 01/08/24)(a)   300    287,400 
YPF SA          
6.95%, 07/21/27(a)   400    353,120 
7.00%, 09/30/33(a)   300    251,250 
7.00%, 12/15/47 (Call 06/15/47)(a)   250    181,250 
8.50%, 07/28/25(a)   600    579,000 
9.00%, 02/12/26(a)   242    241,670 
9.00%, 06/30/29(a)   350    338,933 
9.50%, 01/17/31 (Call 10/17/30)(b)(c)   400    399,720 
         2,868,843 
Azerbaijan — 0.3%          
Southern Gas Corridor CJSC, 6.88%, 03/24/26(a)   1,000    1,011,250 
           
Bahrain — 0.2%          
AUB Sukuk Ltd., 2.62%, 09/09/26(a)   200    183,100 
Oil and Gas Holding Co. BSCC (The), 7.50%, 10/25/27(a)   600    626,625 
         809,725 
Brazil — 8.2%          
Acu Petroleo Luxembourg SARL, 7.50%, 01/13/32 (Call 01/13/27)(a)   242    231,152 
Adecoagro SA, 6.00%, 09/21/27(a)   200    194,300 
Aegea Finance Sarl, 9.00%, 01/20/31 (Call 01/20/27)(a)   200    210,400 
Aegea Finance SARL, 6.75%, 05/20/29 (Call 05/20/25)(a)   400    387,340 
Amaggi Luxembourg International Sarl, 5.25%, 01/28/28(a)   400    387,750 
Azul Secured Finance LLP          
10.88%, 05/28/30(a)   375    308,789 
11.93%, 08/28/28(a)   400    405,250 
B3 SA - Brasil Bolsa Balcao, 4.13%, 09/20/31(a)   400    347,500 
Banco Bradesco SA/Cayman Islands, 4.38%, 03/18/27(a)(c)   200    193,430 
Banco BTG Pactual SA/Cayman Islands, 2.75%, 01/11/26 (Call 12/11/25)(a)(c)   200    188,063 
Banco do Brasil SA/Cayman          
3.25%, 09/30/26(a)   400    377,280 
4.88%, 01/11/29(a)   400    386,250 
6.25%, 04/18/30(a)   400    406,380 
6.25%, (Call 04/15/24), (10-year CMT + 4.398%)(a)(c)(d)(e)   1,000    990,000 
9.00%, (Call 06/18/24), (10-year CMT + 6.362%)(a)(c)(d)(e)   400    401,750 
Banco Votorantim SA, 4.38%, 07/29/25(a)   200    194,125 
Braskem America Finance Co., 7.13%, 07/22/41 (Call 01/22/41)(a)   200    169,560 
Braskem Netherlands Finance BV          
4.50%, 01/10/28 (Call 10/10/27)(a)   600    517,350 
4.50%, 01/31/30 (Call 10/31/29)(a)   800    630,480 
5.88%, 01/31/50(a)   400    281,920 
7.25%, 02/13/33 (Call 11/13/32)(a)   600    531,000 
8.50%, 01/12/31 (Call 11/12/30)(a)   400    378,992 
8.50%, 01/23/81 (Call 10/24/25), (5-year CMT + 8.220%)(a)(e)   400    386,000 
Security  Par
(000)		   Value 
           
Brazil (continued)          
BRF SA          
4.88%, 01/24/30 (Call 10/24/29)(a)  $200   $176,438 
5.75%, 09/21/50 (Call 03/21/50)(a)   400    289,920 
Centrais Eletricas Brasileiras SA, 4.63%, 02/04/30(a)   400    360,000 
Cosan Luxembourg SA          
5.50%, 09/20/29 (Call 09/20/24)(a)   400    376,375 
7.25%, 06/27/31 (Call 06/27/27)(b)   200    200,940 
7.50%, 06/27/30 (Call 06/27/26)(a)   200    205,000 
Cosan Overseas Ltd., 8.25%, (Call 05/05/24)(a)(d)   200    200,250 
CSN Inova Ventures, 6.75%, 01/28/28 (Call 03/01/24)(a)   600    574,500 
CSN Resources SA          
4.63%, 06/10/31 (Call 06/10/26)(a)   400    322,500 
5.88%, 04/08/32 (Call 04/08/27)(a)   200    170,500 
8.88%, 12/05/30 (Call 12/05/26)(b)(c)   400    410,000 
Embraer Netherlands Finance BV          
5.40%, 02/01/27(c)   300    297,000 
7.00%, 07/28/30 (Call 04/28/30)(a)   400    418,900 
FS Luxembourg Sarl, 10.00%, 12/15/25(a)   200    208,350 
Globo Comunicacao e Participacoes SA, 4.88%, 01/22/30(a)   200    168,750 
Itau Unibanco Holding SA/Cayman Island          
3.88%, 04/15/31 (Call 04/15/26), (5-year CMT + 3.446%)(a)(c)(e)   400    384,600 
4.50%, 11/21/29 (Call 11/21/24),          
(5-year CMT + 2.822%)(a)(c)(e)   400    392,100 
4.63%, (Call 02/27/25),          
(5-year CMT + 3.222%)(a)(d)(e)   200    181,500 
7.72%, (Call 06/12/24),          
(5-year CMT + 3.981%)(a)(d)(e)   600    595,875 
7.86%, (Call 03/19/24),          
(5-year CMT + 3.863%)(a)(d)(e)   400    397,750 
Klabin Austria GmbH          
3.20%, 01/12/31 (Call 10/12/30)(a)   200    165,000 
5.75%, 04/03/29 (Call 01/03/29)(a)   400    400,130 
7.00%, 04/03/49 (Call 10/03/48)(a)   400    400,720 
MARB BondCo PLC, 3.95%, 01/29/31 (Call 01/29/26)(a)   600    476,400 
MC Brazil Downstream Trading SARL, 7.25%, 06/30/31(a)   761    585,435 
MercadoLibre Inc., 3.13%, 01/14/31 (Call 10/14/30)   400    334,500 
Minerva Luxembourg SA          
4.38%, 03/18/31 (Call 03/18/26)(a)   600    491,250 
8.88%, 09/13/33(a)   600    628,200 
NBM U.S. Holdings Inc., 7.00%, 05/14/26 (Call 03/01/24)(a)   400    400,125 
Petrobras Global Finance BV          
5.09%, 01/15/30(c)   250    239,381 
5.50%, 06/10/51 (Call 12/10/50)(c)   350    287,875 
5.60%, 01/03/31 (Call 10/03/30)(c)   575    556,896 
6.00%, 01/27/28(c)   626    632,260 
6.50%, 07/03/33 (Call 04/03/33)(c)   400    396,000 
6.75%, 01/27/41(c)   400    393,580 
6.85%, (c)   650    599,820 
6.88%, 01/20/40   350    351,645 
6.90%, 03/19/49(c)   400    390,000 
7.25%, 03/17/44(c)   416    427,440 
7.38%, 01/17/27(c)   300    313,402 
Petrorio Luxembourg Trading Sarl, 6.13%, 06/09/26 (Call 06/09/24)(a)   400    390,500 

 

1

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
           
Brazil (continued)          
Rede D'or Finance Sarl          
4.50%, 01/22/30 (Call 10/22/29)(a)  $300   $265,200 
4.95%, 01/17/28 (Call 10/17/27)(a)   400    376,875 
Rumo Luxembourg Sarl          
4.20%, 01/18/32 (Call 01/18/27)(a)   200    167,300 
5.25%, 01/10/28 (Call 01/10/24)(a)   200    191,063 
Samarco Mineracao SA, 9.50%, 06/30/31, (9.00% PIK)(b)(f)   1,800    1,494,900 
Simpar Europe SA, 5.20%, 01/26/31(a)   200    170,820 
StoneCo Ltd., 3.95%, 06/16/28 (Call 05/16/28)(a)   300    257,906 
Usiminas International Sarl, 5.88%, 07/18/26 (Call 03/01/24)(a)   400    388,875 
XP Inc., 3.25%, 07/01/26 (Call 06/01/26)(a)   400    371,375 
         27,381,182 
Burkina Faso — 0.1%          
Endeavour Mining PLC, 5.00%, 10/14/26 (Call 01/29/24)(a)   200    183,500 
           
Chile — 0.3%          
AES Andes SA., 7.13%, 03/26/79 (Call 04/07/24), (5-year USD Swap + 4.644%)(a)(e)   200    192,000 
Agrosuper SA, 4.60%, 01/20/32 (Call 10/20/31)(a)   200    170,000 
Falabella SA, 3.38%, 01/15/32 (Call 10/15/31)(a)   200    148,000 
Latam Airlines Group SA, 13.38%, 10/15/29 (Call 10/15/25)(a)   400    458,000 
         968,000 
China — 3.0%          
Agile Group Holdings Ltd., 7.88%, (Call 07/31/24), (5-year CMT + 11.294%)(a)(d)(e)(g)(h)   600    21,000 
Bank of Communications Co. Ltd., 3.80%, (Call 11/18/25), (5-year CMT + 3.345%)(a)(d)(e)   1,300    1,261,000 
Central Plaza Development Ltd., 5.75%, (Call 11/14/24), (5-year CMT + 8.066%)(a)(d)(e)   400    376,040 
China Great Wall International Holdings III Ltd., 3.88%, 08/31/27(a)   400    370,600 
Ease Trade Global Ltd., 4.00%, 11/10/25(a)   200    184,228 
Easy Tactic Ltd.          
6.50%, 07/11/25 (Call 03/01/24), (7.50% PIK)(f)   670    38,529 
6.50%, 07/11/27 (Call 03/01/24), (7.50% PIK)(f)   1,307    68,642 
6.50%, 07/11/28 (Call 03/01/24), (7.50% PIK)(f)   782    38,227 
ENN Clean Energy International Investment Ltd.,          
3.38%, 05/12/26 (Call 05/12/24)(a)   400    376,808 
Fortune Star BVI Ltd.          
5.00%, 05/18/26 (Call 05/18/24)(a)   200    168,000 
5.05%, 01/27/27 (Call 01/27/25)(a)   200    155,600 
5.95%, 10/19/25 (Call 03/01/24)(a)   400    358,000 
Franshion Brilliant Ltd.          
4.25%, 07/23/29(a)   200    134,187 
6.00%, (Call 02/08/26),          
(5-year CMT + 5.584%)(a)(d)(e)   200    169,624 
Fuqing Investment Management Ltd., 3.25%, 06/23/25(a)   200    168,000 
GLP China Holdings Ltd., 2.95%, 03/29/26(a)   200    138,000 
Guojing Capital BVI Ltd., 6.30%, 12/02/25(a)   200    201,806 
Huarong Finance 2017 Co. Ltd.          
4.25%, 11/07/27(a)   600    550,500 
4.75%, 04/27/27(a)   600    564,900 
Huarong Finance 2019 Co. Ltd., 4.50%, 05/29/29(a)   200    179,000 
Industrial & Commercial Bank of China Ltd., 3.20%, (Call 09/24/26), (5-year CMT + 2.368%)(a)(d)(e)   3,100    2,941,125 
Lenovo Group Ltd., 5.88%, 04/24/25(a)   600    601,524 
Security  Par
(000)		   Value 
           
China (continued)          
Longfor Group Holdings Ltd., 3.95%, 09/16/29(a)  $600   $264,000 
RKPF Overseas 2020 A Ltd.          
5.13%, 07/26/26 (Call 07/26/24)(a)   200    56,000 
5.20%, 01/12/26 (Call 02/15/24)(a)   200    60,000 
Sunac China Holdings Ltd.          
6.25%, 09/30/27, (6.25% PIK)(b)(f)   1,000    115,000 
7.00%, 09/30/29 (Call 02/22/24), (12.00% PIK)(a)(f)   1,200    93,600 
West China Cement Ltd., 4.95%, 07/08/26 (Call 07/08/24)(a)   400    295,500 
Yanlord Land HK Co. Ltd., 5.13%, 05/20/26 (Call 05/20/24)(a)   200    138,125 
         10,087,565 
Colombia — 3.3%          
ABRA Global Finance, 11.50%, 03/02/28, (5.50% PIK)(a)(f)   521    390,869 
AI Candelaria Spain SA, 5.75%, 06/15/33 (Call 06/15/28)(a)   400    311,000 
Avianca Midco 2 PLC, 9.00%, 12/01/28 (Call 12/01/24)(a)   850    758,625 
Banco Davivienda SA, 6.65%, (Call 04/22/31), (10-year CMT + 5.097%)(a)(d)(e)   200    140,660 
Banco de Bogota SA, 6.25%, 05/12/26(a)   600    590,070 
Bancolombia SA          
4.63%, 12/18/29 (Call 12/18/24), (5-year CMT + 2.944%)(e)   200    186,600 
6.91%, 10/18/27, (5-year CMT + 2.929%)(e)   400    391,902 
Canacol Energy Ltd., 5.75%, 11/24/28 (Call 11/24/24)(a)   200    137,122 
Colombia Telecomunicaciones SA ESP, 4.95%, 07/17/30 (Call 04/17/30)(a)   200    128,900 
Ecopetrol SA          
4.63%, 11/02/31 (Call 08/02/31)   600    491,520 
5.38%, 06/26/26 (Call 03/26/26)(c)   750    738,337 
5.88%, 05/28/45   990    731,313 
5.88%, 11/02/51 (Call 05/02/51)   405    288,644 
6.88%, 04/29/30 (Call 01/29/30)   950    921,880 
7.38%, 09/18/43(c)   400    364,800 
8.38%, 01/19/36 (Call 10/19/35)   900    909,180 
8.63%, 01/19/29 (Call 12/19/28)(c)   700    739,375 
8.88%, 01/13/33 (Call 10/13/32)(c)   1,200    1,265,820 
EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA, 5.38%, 12/30/30(a)   400    311,000 
Geopark Ltd., 5.50%, 01/17/27 (Call 02/12/24)(a)   200    177,375 
Grupo Aval Ltd., 4.38%, 02/04/30 (Call 11/04/29)(a)   600    494,940 
Grupo de Inversiones Suramericana SA, 5.50%, 04/29/26(a)   200    194,425 
SierraCol Energy Andina LLC, 6.00%, 06/15/28 (Call 06/15/24)(a)   400    334,625 
         10,998,982 
Czech Republic — 0.1%          
Allwyn Entertainment Financing U.K. PLC, 7.88%, 04/30/29(a)   400    406,788 
           
Ghana — 0.3%          
Kosmos Energy Ltd., 7.13%, 04/04/26 (Call 02/12/24)(a)   400    384,500 
Tullow Oil PLC, 10.25%, 05/15/26 (Call 02/12/24)(a)   860    786,094 
         1,170,594 

2

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
           
Guatemala — 0.6%          
Central American Bottling Corp./CBC Bottling Holdco          
SL/Beliv Holdco SL, 5.25%, 04/27/29 (Call 04/27/26)(a)  $500   $465,000 
CT Trust, 5.13%, 02/03/32 (Call 02/03/27)(a)   400    348,000 
Investment Energy Resources Ltd., 6.25%, 04/26/29 (Call 04/26/25)(a)   400    378,592 
Millicom International Cellular SA          
4.50%, 04/27/31 (Call 04/27/26)(a)(c)   400    333,500 
6.25%, 03/25/29 (Call 03/25/24)(a)   360    343,125 
         1,868,217 
Hong Kong — 2.2%          
Bank of Communications Hong Kong Ltd., 3.73%, (Call 03/03/25), (5-year CMT + 2.525%)(a)(d)(e)   250    244,063 
Bank of East Asia Ltd. (The)          
5.83%, (Call 10/21/25),          
(5-year CMT + 5.527%)(a)(d)(e)   500    446,875 
5.88%, (Call 09/19/24),          
(5-year CMT + 4.257%)(a)(d)(e)   250    237,031 
CAS Capital No. 1 Ltd., 4.00%, (Call 07/12/26),          
(5-year CMT + 3.642%)(a)(d)(e)   400    345,000 
Cathay Pacific MTN Financing HK Ltd., 4.88%, 08/17/26(a)   400    391,000 
China CITIC Bank International Ltd.          
3.25%, (Call 07/29/26),          
(5-year CMT + 2.530%)(a)(d)(e)   250    236,875 
4.80%, (Call 04/22/27),          
(5-year CMT + 2.104%)(a)(d)(e)   250    245,234 
FWD Group Holdings Ltd., 8.05%, (Call 06/15/24),          
(5-year CMT + 4.865%)(a)(d)(e)   400    373,500 
Henderson Land MTN Ltd., 2.38%, 05/27/25(a)   200    191,466 
Lai Sun MTN Ltd., 5.00%, 07/28/26(a)   200    112,000 
Li & Fung Ltd., 5.25%, (Call 05/03/24)(a)(d)   200    90,063 
Melco Resorts Finance Ltd.          
4.88%, 06/06/25 (Call 03/01/24)(a)   400    390,000 
5.25%, 04/26/26 (Call 03/01/24)(a)   300    286,500 
5.38%, 12/04/29 (Call 12/04/24)(a)   600    531,750 
5.63%, 07/17/27 (Call 03/01/24)(a)   200    188,304 
5.75%, 07/21/28 (Call 03/01/24)(a)   400    372,000 
Nanyang Commercial Bank Ltd., 6.50%, (Call 04/28/27), (5-year CMT + 3.509%)(a)(d)(e)   250    246,875 
New World China Land Ltd., 4.75%, 01/23/27(a)   200    170,000 
NWD Finance BVI Ltd.          
4.13%, (Call 03/10/28),          
(5-year CMT + 5.858%)(a)(d)(e)   600    312,900 
4.80%, (Call 03/01/24)(a)(d)   400    161,000 
5.25%, (Call 03/22/26),          
(5-year CMT + 7.889%)(a)(d)(e)   600    391,500 
6.25%, (Call 03/07/24)(a)(d)   600    307,500 
NWD MTN Ltd., 4.13%, 07/18/29(a)   400    299,880 
PCPD Capital Ltd., 5.13%, 06/18/26 (Call 06/18/24)(a)   400    312,750 
Seaspan Corp., 5.50%, 08/01/29 (Call 08/01/24)(a)   400    340,524 
Wheelock MTN BVI Ltd., 2.38%, 01/25/26(a)   200    189,008 
         7,413,598 
Hungary — 0.1%          
OTP Bank Nyrt, 8.75%, 05/15/33 (Call 02/15/28), (5-year CMT + 5.060%)(a)(e)   400    412,080 
           
India — 1.8%          
Axis Bank Ltd./Gandhinagar, 4.10%, (Call 09/08/26), (5-year CMT + 3.315%)(a)(d)(e)   200    183,750 
Security  Par
(000)		   Value 
           
India (continued)          
CA Magnum Holdings, 5.38%, 10/31/26 (Call 02/12/24)(a)  $600   $560,250 
Delhi International Airport Ltd.          
6.13%, 10/31/26(a)   400    395,640 
6.45%, 06/04/29(a)   200    196,700 
Greenko Dutch BV, 3.85%, 03/29/26 (Call 03/01/24)(a)   555    521,873 
Greenko Power II Ltd., 4.30%, 12/13/28 (Call 12/14/24)(a)   540    491,467 
Greenko Solar Mauritius Ltd., 5.95%, 07/29/26 (Call 03/01/24)(a)   200    195,680 
Greenko Wind Projects Mauritius Ltd., 5.50%,          
04/06/25 (Call 04/06/24)(a)   200    196,000 
HDFC Bank Ltd., 3.70%, (Call 08/25/26),          
(5-year CMT + 2.925%)(a)(d)(e)   600    550,125 
JSW Hydro Energy Ltd., 4.13%, 05/18/31 (Call 05/18/26)(a)   322    281,348 
JSW Steel Ltd.          
3.95%, 04/05/27 (Call 10/05/26)(a)   400    371,500 
5.05%, 04/05/32 (Call 10/05/31)(a)   200    176,500 
Network i2i Ltd.          
3.98%, (Call 03/03/26),          
(5-year CMT + 3.390%)(a)(d)(e)   200    187,438 
5.65%, (Call 01/15/25),          
(5-year CMT + 4.274%)(a)(d)(e)   400    395,250 
Periama Holdings LLC/DE, 5.95%, 04/19/26(a)   400    394,000 
ReNew Wind Energy AP2/ReNew Power Pvt Ltd.          
other 9 Subsidiaries, 4.50%, 07/14/28 (Call 02/12/24)(a)   200    180,250 
Vedanta Resources Finance II PLC          
9.25%, 04/23/26 (Call 03/01/24)(a)(c)   400    318,600 
13.88%, 12/09/28 (Call 09/11/24)(a)   400    346,000 
         5,942,371 
Indonesia — 0.5%          
Bank Negara Indonesia Persero Tbk PT          
3.75%, 03/30/26(a)   600    573,188 
4.30%, (Call 03/24/27),          
(5-year CMT + 3.466%)(a)(d)(e)   200    181,125 
Indika Energy Capital IV Pte Ltd., 8.25%, 10/22/25 (Call 03/04/24)(a)   350    350,109 
Medco Bell Pte Ltd., 6.38%, 01/30/27 (Call 03/04/24)(a)   200    192,500 
Medco Maple Tree Pte Ltd., 8.96%, 04/27/29 (Call 10/27/25)(a)   250    255,625 
         1,552,547 
Israel — 2.0%          
Energian Israel Finance Ltd.          
4.88%, 03/30/26 (Call 12/30/25)(a)(b)   350    322,000 
5.38%, 03/30/28 (Call 09/30/27)(a)(b)   325    283,156 
5.88%, 03/30/31 (Call 09/30/30)(a)(b)   300    249,750 
8.50%, 09/30/33(a)(b)   370    347,060 
Leviathan Bond Ltd.          
6.13%, 06/30/25 (Call 03/30/25)(a)(b)   275    264,344 
6.50%, 06/30/27 (Call 12/30/26)(a)(b)   350    324,953 
6.75%, 06/30/30 (Call 12/30/29)(a)(b)   250    223,925 
Teva Pharmaceutical Finance Co. LLC, 6.15%, 02/01/36   500    476,695 
Teva Pharmaceutical Finance Netherlands III BV          
3.15%, 10/01/26   1,600    1,488,000 
4.10%, 10/01/46   900    597,375 
4.75%, 05/09/27 (Call 02/09/27)(c)   500    480,015 

 

3

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
           
Israel (continued)          
5.13%, 05/09/29 (Call 02/09/29)(c)  $400   $384,124 
6.75%, 03/01/28 (Call 12/01/27)   600    612,750 
7.88%, 09/15/29 (Call 06/15/29)   300    322,500 
8.13%, 09/15/31 (Call 06/15/31)   300    328,500 
         6,705,147 
Kazakhstan — 0.3%          
Tengizchevroil Finance Co. International Ltd.          
2.63%, 08/15/25 (Call 05/15/25)(a)   200    188,800 
3.25%, 08/15/30 (Call 02/15/30)(a)   400    328,000 
4.00%, 08/15/26(a)   600    564,315 
         1,081,115 
Kuwait — 0.2%          
Burgan Bank SAK, 5.75%, (Call 07/09/24),          
(5-year CMT + 4.007%)(a)(d)(e)   200    196,063 
Kuwait Projects Co. SPC Ltd.          
4.23%, 10/29/26(a)   400    350,500 
4.50%, 02/23/27(a)   200    172,750 
         719,313 
Luxembourg — 0.4%          
Altice Financing SA          
5.00%, 01/15/28 (Call 03/01/24)(a)   700    625,625 
5.75%, 08/15/29   1,000    867,500 
         1,493,125 
Macau — 1.2%          
Champion Path Holdings Ltd.          
4.50%, 01/27/26 (Call 02/12/24)(a)   400    376,625 
4.85%, 01/27/28 (Call 01/27/25)(a)   200    175,437 
MGM China Holdings Ltd.          
4.75%, 02/01/27 (Call 02/12/24)(a)   200    187,000 
5.25%, 06/18/25 (Call 02/12/24)(a)   400    388,875 
5.88%, 05/15/26 (Call 02/12/24)(a)   400    388,736 
Studio City Finance Ltd.          
5.00%, 01/15/29 (Call 03/01/24)(a)   600    510,000 
6.50%, 01/15/28 (Call 03/01/24)(a)   200    185,000 
Wynn Macau Ltd.          
5.13%, 12/15/29 (Call 12/15/24)(a)   400    354,500 
5.50%, 01/15/26 (Call 03/01/24)(a)   400    386,500 
5.50%, 10/01/27 (Call 02/12/24)(a)   400    374,875 
5.63%, 08/26/28 (Call 02/12/24)(a)   800    740,400 
         4,067,948 
Mexico — 8.7%          
Alsea SAB de CV, 7.75%, 12/14/26 (Call 01/29/24)(a)   200    202,200 
Banco Mercantil del Norte SA/Grand Cayman          
5.88%, (Call 01/24/27),          
(5-year CMT + 4.643%)(a)(d)(e)   400    373,000 
6.63%, (Call 01/24/32),          
(10-year CMT + 5.034%)(a)(d)(e)   200    169,000 
6.75%, (Call 09/27/24),          
(5-year CMT + 4.967%)(a)(c)(d)(e)   300    296,340 
7.50%, (Call 06/27/29),          
(10-year CMT + 5.470%)(a)(d)(e)   200    189,500 
7.63%, , (10-year CMT + 5.353%)(a)   400    383,000 
8.38%, (Call 10/14/30),          
(10-year CMT + 7.760%)(a)(d)(e)   200    196,500 
BBVA Bancomer SA/Texas          
5.13%, 01/18/33 (Call 01/17/28),          
(5-year CMT + 2.650%)(a)(e)   600    546,930 
5.88%, 09/13/34 (Call 09/13/29),          
(5-year CMT + 4.308%)(a)(e)   350    323,172 
Security  Par
(000)		   Value 
           
Mexico (continued)          
8.13%, 01/08/39 (Call 01/08/34),          
(5-year CMT + 4.214%)(b)  $200   $202,600 
8.45%, 06/29/38 (Call 06/29/33),          
(5-year CMT + 4.661%)(a)(e)   600    623,280 
Borr IHC Ltd./Borr Finance LLC          
10.00%, 11/15/28(a)   600    621,000 
10.38%, 11/15/30(a)   200    207,000 
Braskem Idesa SAPI          
6.99%, 02/20/32 (Call 02/20/27)(a)   700    456,094 
7.45%, 11/15/29 (Call 11/15/24)(a)   400    276,380 
Cemex SAB de CV          
3.88%, 07/11/31 (Call 07/11/26)(a)   500    443,000 
5.20%, 09/17/30 (Call 09/17/25)(a)   400    387,780 
5.45%, 11/19/29 (Call 11/19/24)(a)   400    394,580 
9.13%, (Call 03/14/28),          
(5-year CMT + 4.907%)(a)(d)(e)   500    528,975 
Cemex SAB De CV, 5.13%, (Call 06/08/26),          
(5-year CMT + 4.534%)(a)(c)(d)(e)   500    474,500 
Grupo Aeromexico SAB de CV, 8.50%, 03/17/27 (Call 03/17/24)(a)   300    287,719 
Nemak SAB de CV, 3.63%, 06/28/31 (Call 03/28/31)(a)   200    160,500 
Petroleos Mexicanos          
4.50%, 01/23/26   500    469,300 
5.35%, 02/12/28(c)   953    832,608 
5.95%, 01/28/31 (Call 10/28/30)(c)   1,900    1,485,800 
6.35%, 02/12/48(c)   850    526,150 
6.38%, 01/23/45(c)   550    346,500 
6.49%, 01/23/27 (Call 11/23/26)(c)   748    703,457 
6.50%, 03/13/27   2,060    1,928,160 
6.50%, 01/23/29(c)   625    551,944 
6.50%, 06/02/41(c)   800    532,552 
6.63%, 06/15/35(c)   1,300    974,805 
6.70%, 02/16/32 (Call 11/16/31)   3,350    2,718,357 
6.75%, 09/21/47   2,750    1,759,175 
6.84%, 01/23/30 (Call 10/23/29)(c)   1,100    939,510 
6.88%, 08/04/26(c)   1,300    1,262,820 
6.95%, 01/28/60 (Call 07/28/59)(c)   1,950    1,245,075 
7.69%, 01/23/50 (Call 07/23/49)(c)   4,075    2,838,237 
8.75%, 06/02/29 (Call 04/02/29)(c)   1,000    962,350 
10.00%, 02/07/33 (Call 11/07/32)(c)   1,050    1,032,937 
Total Play Telecomunicaciones SA de CV          
6.38%, 09/20/28 (Call 09/30/25)(a)   200    87,000 
7.50%, 11/12/25(a)   400    232,000 
         29,171,787 
Moldova — 0.0%          
Aragvi Finance International DAC, 8.45%, 04/29/26 (Call 04/29/24)(a)   200    142,563 
           
Morocco — 0.4%          
OCP SA          
3.75%, 06/23/31 (Call 03/23/31)(a)   200    168,470 
4.50%, 10/22/25(a)   400    384,500 
5.13%, 06/23/51 (Call 12/23/50)(a)   400    287,400 
6.88%, 04/25/44(a)   400    366,500 
         1,206,870 
Nigeria — 0.5%          
Access Bank PLC          
6.13%, 09/21/26(a)   200    183,563 
9.13%, (Call 10/07/26),          
(5-year CMT + 8.070%)(a)(d)(e)   200    183,300 

 

4

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
           
Nigeria (continued)          
IHS Holding Ltd.          
5.63%, 11/29/26 (Call 03/01/24)(a)  $200   $179,625 
6.25%, 11/29/28 (Call 11/29/24)(a)   200    168,000 
IHS Netherlands Holdco BV, 8.00%, 09/18/27 (Call 03/01/24)(a)   600    549,187 
SEPLAT Energy PLC, 7.75%, 04/01/26 (Call 03/01/24)(a)   400    369,000 
         1,632,675 
Oman — 0.4%          
Bank Muscat SAOG, 4.75%, 03/17/26(a)   200    195,750 
EDO Sukuk Ltd., 5.88%, 09/21/33(a)   400    406,400 
Otel Sukuk Ltd., 5.38%, 01/24/31 (Call 10/24/30)(b)   200    197,700 
Oztel Holdings SPC Ltd., 6.63%, 04/24/28(a)   450    464,625 
         1,264,475 
Panama — 0.2%          
C&W Senior Financing DAC, 6.88%, 09/15/27 (Call 02/12/24)(a)   600    566,562 
Telecomunicaciones Digitales SA, 4.50%, 01/30/30 (Call 01/30/25)(a)   200    173,750 
         740,312 
Paraguay — 0.2%          
Bioceanico Sovereign Certificate Ltd., 0.00%, 06/05/34(a)(i)   434    311,471 
Telefonica Celular del Paraguay SA, 5.88%, 04/15/27 (Call 01/08/24)(a)   400    385,875 
         697,346 
Peru — 0.6%          
Cia. De Minas Buenaventur Co., 5.50%, 07/23/26 (Call 03/01/24)(a)   400    380,000 
Hunt Oil Co. of Peru LLC Sucursal Del Peru, 8.55%, 09/18/33 (Call 06/18/33)(a)   200    212,680 
Minsur SA, 4.50%, 10/28/31(a)   200    173,187 
Peru LNG Srl, 5.38%, 03/22/30(a)   400    327,200 
Petroleos del Peru SA          
4.75%, 06/19/32(a)   400    289,072 
5.63%, 06/19/47(a)   1,100    702,339 
         2,084,478 
Philippines — 0.8%          
Globe Telecom Inc., 4.20%, (Call 08/02/26),          
(5-year CMT + 5.527%)(a)(d)(e)   400    382,250 
JGSH Philippines Ltd., 4.13%, 07/09/30(a)   400    376,000 
Manila Water Co. Inc., 4.38%, 07/30/30 (Call 07/30/25)(a)   200    187,000 
Petron Corp., 5.95%, (Call 04/19/26),          
(5-year CMT + 7.574%)(a)(d)(e)   200    190,375 
San Miguel Corp., 5.50%, (Call 07/29/25),          
(5-year CMT + 10.237%)(a)(d)(e)   200    190,375 
SMC Global Power Holdings Corp.          
5.45%, (Call 12/09/26),          
(5-year CMT + 7.155%)(a)(d)(e)   400    325,250 
5.70%, (Call 01/21/26),          
(5-year CMT + 6.554%)(a)(d)(e)   200    170,500 
6.50%, (Call 04/25/24),          
(5-year CMT + 6.608%)(a)(d)(e)   400    384,000 
7.00%, (Call 10/21/25),          
(5-year CMT + 9.199%)(a)(d)(e)   400    367,875 
         2,573,625 
Security  Par
(000)		   Value 
           
Poland — 0.1%          
Canpack SA/Canpack U.S. LLC, 3.88%, 11/15/29 (Call 11/15/24)(a)  $400   $352,096 
           
Qatar — 0.1%          
Commercial Bank PSQC (The), 4.50%, (Call 03/03/26), (5-year CMT + 3.874%)(a)(d)(e)   200    183,188 
           
Saudi Arabia — 0.3%          
Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26(a)   400    365,500 
Dar Al-Arkan Sukuk Co. Ltd., 8.00%, 02/25/29(a)   200    203,750 
Riyad Tier 1 Sukuk Ltd., 4.00%, (Call 02/16/27),          
(5-year CMT + 2.170%)(a)(d)(e)   400    368,875 
         938,125 
Singapore — 0.4%          
GLP Pte Ltd.          
3.88%, 06/04/25(a)   200    154,320 
4.50%, (Call 05/17/26),          
(5-year CMT + 3.735%)(a)(d)(e)   400    156,168 
Puma International Financing SA, 5.00%, 01/24/26 (Call 02/12/24)(a)   400    378,000 
Singapore Airlines Ltd.          
3.00%, 07/20/26 (Call 06/20/26)(a)   200    189,886 
3.38%, 01/19/29 (Call 11/19/28)(a)   400    371,880 
         1,250,254 
South Africa — 1.2%          
Absa Group Ltd., 6.38%, (Call 05/27/26),          
(5-year CMT + 5.411%)(a)(d)(e)   200    190,000 
Bidvest Group U.K. PLC, 3.63%, 09/23/26 (Call 02/12/24)(a)   400    372,000 
Eskom Holdings SOC Ltd., 6.35%, 08/10/28(a)   600    582,750 
Liquid Telecommunications Financing PLC, 5.50%, 09/04/26 (Call 03/01/24)(a)   200    124,875 
MTN Mauritius Investments Ltd., 6.50%, 10/13/26(a)   200    201,750 
Sasol Financing USA LLC          
4.38%, 09/18/26 (Call 09/18/25)   400    372,625 
5.50%, 03/18/31 (Call 03/18/30)   400    334,500 
6.50%, 09/27/28 (Call 06/27/28)(c)   400    377,580 
8.75%, 05/03/29 (Call 03/03/29)(a)   500    508,281 
Stillwater Mining Co.          
4.00%, 11/16/26 (Call 03/01/24)(a)   200    176,625 
4.50%, 11/16/29 (Call 11/16/25)(a)   400    313,750 
Transnet SOC Ltd., 8.25%, 02/06/28(a)   600    603,060 
         4,157,796 
South Korea — 0.1%          
Woori Bank, 4.25%, (Call 10/04/24),          
(5-year CMT + 2.664%)(a)(d)(e)   200    196,625 
           
Supranational — 0.1%          
Eastern & Southern African Trade & Development          
Bank (The), 4.13%, 06/30/28(a)   400    342,971 
Odebrecht Holdco Finance Ltd., 0.00%, 09/10/58 (Call 03/01/24)(a)(i)   900    270 
         343,241 
Switzerland — 0.0%          
Oriflame Investment Holding PLC, 5.13%, 05/04/26 (Call 01/29/24)(a)   200    55,000 
           
Tanzania — 0.1%          
HTA Group Ltd./Mauritius, 7.00%, 12/18/25 (Call 02/12/24)(a)   200    197,063 

 

5

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
           
Thailand — 0.5%          
Bangkok Bank PCL/Hong Kong          
3.73%, 09/25/34 (Call 09/25/29),          
(5-year CMT + 1.900%)(a)(e)  $600   $531,150 
5.00%, , (5-year CMT + 4.729%)   400    389,600 
Kasikornbank PCL/Hong Kong, 3.34%, 10/02/31 (Call 10/02/26), (5-year CMT + 1.700%)(a)(e)   600    555,696 
Krung Thai Bank PCL/Cayman Islands, 4.40%, (Call 03/25/26), (5-year CMT + 3.530%)(a)(d)(e)   400    378,500 
         1,854,946 
Turkey — 2.0%          
Akbank TAS          
5.13%, 03/31/25(a)   200    196,937 
6.80%, 02/06/26(a)   400    400,000 
6.80%, 06/22/31 (Call 06/22/26),          
(5-year CMT + 6.015%)(a)(e)   200    195,937 
Anadolu Efes Biracilik Ve Malt Sanayii AS, 3.38%, 06/29/28 (Call 03/29/28)(a)   200    172,313 
Arcelik AS, 8.50%, 09/25/28(a)   200    207,687 
Aydem Yenilenebilir Enerji AS, 7.75%, 02/02/27 (Call 03/01/24)(a)   400    374,875 
Coca-Cola Icecek AS, 4.50%, 01/20/29 (Call 10/20/28)(a)   200    183,938 
KOC Holding AS, 6.50%, 03/11/25 (Call 12/11/24)(a)   400    399,000 
Mersin Uluslararasi Liman Isletmeciligi AS, 8.25%, 11/15/28 (Call 11/15/25)(a)   400    412,125 
Turkcell Iletisim Hizmetleri AS          
5.75%, 10/15/25(a)   200    196,625 
5.80%, 04/11/28 (Call 01/11/28)(a)   200    189,813 
Turkiye Garanti Bankasi AS, 7.18%, 05/24/27,          
(5-year USD ICE Swap + 4.220%)(a)(e)   400    394,125 
Turkiye Is Bankasi AS          
7.75%, 01/22/30 (Call 01/22/25),          
(5-year CMT + 6.119%)(a)(e)   400    395,730 
9.19%, 06/29/28,          
(5-year USD Swap + 5.117%)(a)(e)   200    208,750 
Turkiye Sise ve Cam Fabrikalari AS, 6.95%, 03/14/26 (Call 12/14/25)(a)   300    299,250 
Turkiye Vakiflar Bankasi TAO          
6.50%, 01/08/26(a)   400    396,000 
9.00%, 10/12/28(a)   400    417,568 
Ulker Biskuvi Sanayi AS, 6.95%, 10/30/25(a)   400    391,625 
WE Soda Investments Holding PLC, 9.50%, 10/06/28(a)   400    408,000 
Yapi ve Kredi Bankasi AS          
7.88%, 01/22/31 (Call 01/22/26),          
(5-year CMT + 7.415%)(a)(e)   200    199,896 
9.25%, 10/16/28(a)   400    421,250 
9.25%, 01/17/34 (Call 01/17/29),          
(5-year CMT + 5.278%)(b)   400    408,040 
         6,869,484 
Ukraine — 0.1%          
Metinvest BV, 7.75%, 10/17/29(a)   200    132,000 
MHP Lux SA, 6.95%, 04/03/26(a)   200    162,000 
         294,000 
United Arab Emirates — 1.6%          
Abu Dhabi Commercial Bank PJSC, 8.00%, ,          
(5-year CMT + 3.524%)(a)   400    424,625 
Adib Capital Invest 3 Ltd., 7.25%, ,          
(5-year CMT + 3.059%)(a)(d)   400    421,750 
Arada Sukuk Ltd., 8.13%, 06/08/27(a)   200    202,063 
Security  Par
(000)		   Value 
           
United Arab Emirates (continued)          
Commercial Bank of Dubai PSC, 6.00%, (Call 04/21/26)(a)(d)(e)  $400   $391,000 
DIB Tier 1 Sukuk 3 Ltd., 6.25%, (Call 01/22/25)(a)(d)(e)   400    397,620 
DIB Tier 1 Sukuk 4 Ltd., 4.63%, (Call 05/19/26)(a)(d)(e)   400    380,500 
DP World Salaam, 6.00%, (Call 10/01/25),          
(5-year CMT + 5.750%)(a)(d)(e)   800    793,200 
Emirates NBD Bank PJSC          
4.25%, (Call 02/27/27)(a)(d)(e)   400    363,125 
6.13%, (Call 03/20/25)(a)(d)(e)   400    397,500 
6.13%, (Call 04/09/26)(a)(d)(e)   400    397,250 
GEMS MENASA Cayman Ltd./GEMS Education          
Delaware LLC, 7.13%, 07/31/26 (Call 03/04/24)(a)   400    393,375 
MAF Global Securities Ltd., 7.88%, (Call 06/30/27),          
(5-year CMT + 4.893%)(a)(d)(e)   200    205,812 
Shelf Drilling Holdings Ltd., 9.63%, 04/15/29(a)   600    579,960 
         5,347,780 
United Kingdom — 0.7%          
Petrofac Ltd., 9.75%, 11/15/26 (Call 03/01/24)(a)(c)   400    208,000 
Standard Chartered PLC          
4.30%, (Call 08/19/28),          
(5-year CMT + 3.135%)(a)(d)(e)   800    643,000 
4.75%, (Call 01/14/31),          
(5-year CMT + 3.805%)(a)(d)(e)   600    482,940 
6.00%, (Call 07/26/25),          
(5-year CMT + 5.661%)(a)(d)(e)   600    590,496 
7.75%, (Call 08/15/27),          
(5-year CMT + 4.976%)(a)(d)(e)   600    606,000 
         2,530,436 
United States — 0.1%          
Playtika Holding Corp., 4.25%, 03/15/29 (Call 03/15/24)(a)   300    258,750 
Sagicor Financial Co. Ltd., 5.30%, 05/13/28 (Call 05/13/24)(a)   200    190,000 
         448,750 
Vietnam — 0.1%          
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(a)   231    215,297 
           
Zambia — 0.7%          
First Quantum Minerals Ltd.          
6.88%, 03/01/26 (Call 01/08/24)(a)   600    564,528 
6.88%, 10/15/27 (Call 02/12/24)(a)   800    710,552 
7.50%, 04/01/25 (Call 02/12/24)(a)(c)   443    430,317 
8.63%, 06/01/31 (Call 06/01/26)(a)   600    550,875 
         2,256,272 
Total Corporate Bonds & Notes — 45.9%          
(Cost: $169,412,275)   .    154,146,374 

         
Foreign Government Obligations          
           
Angola — 1.0%          
Angolan Government International Bond          
8.00%, 11/26/29(a)   800    694,000 
8.25%, 05/09/28(a)   800    720,000 
8.75%, 04/14/32(a)   1,100    940,500 
9.13%, 11/26/49(a)   600    473,250 
9.38%, 05/08/48(a)   800    640,000 
         3,467,750 

 

6

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
           
Argentina — 3.4%          
Argentine Republic Government International Bond          
1.00%, 07/09/29 (Call 01/29/24)(c)  $1,318   $529,781 
1.75%, 07/09/30 (Call 01/29/24)(c)(j)   8,098    3,275,836 
4.88%, 07/09/41 (Call 01/29/24)(c)(j)   5,294    1,757,478 
5.00%, 07/09/35 (Call 01/29/24)(c)(j)   10,154    3,396,591 
5.00%, 01/09/38 (Call 01/29/24)(c)(j)   5,655    2,171,334 
5.00%, 07/09/46 (Call 01/29/24)(c)(j)   1,046    354,745 
         11,485,765 
Azerbaijan — 0.1%          
Republic of Azerbaijan International Bond, 3.50%, 09/01/32(a)   450    384,525 
           
Bahrain — 2.3%          
Bahrain Government International Bond          
5.25%, 01/25/33(a)   600    527,250 
5.45%, 09/16/32(a)   600    540,750 
5.63%, 09/30/31(a)   400    372,000 
5.63%, 05/18/34(a)   600    531,750 
6.00%, 09/19/44(a)   600    478,500 
6.75%, 09/20/29(a)   600    602,250 
7.00%, 01/26/26(a)   600    606,525 
7.00%, 10/12/28(a)   900    921,375 
7.38%, 05/14/30(a)   400    412,500 
7.75%, 04/18/35(a)   400    412,000 
CBB International Sukuk Co. 7 SPC, 6.88%, 10/05/25(a)   400    405,500 
CBB International Sukuk Programme Co.          
3.88%, 05/18/29(a)   550    497,750 
3.95%, 09/16/27(a)   500    471,875 
4.50%, 03/30/27(a)   600    578,250 
6.25%, 10/18/30(a)   400    403,500 
         7,761,775 
Bolivia — 0.1%          
Bolivian Government International Bond, 4.50%, 03/20/28(a)   600    315,000 
           
Brazil — 5.2%          
Brazil Government International Bond, 6.25%, 03/18/31   1,000    1,027,000 
Brazilian Government International Bond          
2.88%, 06/06/25(c)   1,000    965,500 
3.75%, 09/12/31(c)   734    644,085 
3.88%, 06/12/30   1,700    1,539,350 
4.50%, 05/30/29 (Call 02/28/29)(c)   1,000    956,500 
4.63%, 01/13/28 (Call 10/13/27)(c)   1,400    1,381,100 
4.75%, 01/14/50 (Call 07/14/49)(c)   2,050    1,510,850 
5.00%, 01/27/45(c)   1,700    1,344,700 
5.63%, 01/07/41(c)   1,100    991,100 
5.63%, 02/21/47(c)   1,300    1,105,650 
6.00%, 04/07/26(c)   1,000    1,024,000 
6.00%, 10/20/33(c)   1,200    1,184,400 
6.13%, 03/15/34   1,200    1,188,240 
7.13%, 01/20/37(c)   800    855,600 
7.13%, 05/13/54   1,100    1,098,900 
8.25%, 01/20/34   650    742,950 
         17,559,925 
Colombia — 4.5%          
Colombia Government International Bond          
3.00%, 01/30/30 (Call 10/30/29)   700    579,600 
3.13%, 04/15/31 (Call 01/15/31)   1,200    957,600 
3.25%, 04/22/32 (Call 01/22/32)   1,000    778,500 
Security  Par
(000)		   Value 
           
Colombia (continued)          
3.88%, 04/25/27 (Call 01/25/27)(c)  $1,000   $946,500 
3.88%, 02/15/61 (Call 08/15/60)(c)   600    350,100 
4.13%, 02/22/42 (Call 08/22/41)(c)   600    404,700 
4.13%, 05/15/51 (Call 11/15/50)(c)   800    500,000 
4.50%, 01/28/26 (Call 10/28/25)   800    783,750 
4.50%, 03/15/29 (Call 12/15/28)   1,000    919,500 
5.00%, 06/15/45 (Call 12/15/44)(c)   2,200    1,601,600 
5.20%, 05/15/49 (Call 11/15/48)   1,450    1,066,475 
5.63%, 02/26/44 (Call 08/26/43)(c)   1,200    952,200 
6.13%, 01/18/41(c)   1,300    1,127,750 
7.38%, 09/18/37   900    894,600 
7.50%, 02/02/34 (Call 11/02/33)(c)   1,000    1,020,500 
8.00%, 04/20/33 (Call 01/20/33)(c)   889    942,618 
8.00%, 11/14/35 (Call 08/14/35)   600    630,600 
8.75%, 11/14/53 (Call 05/14/53)   600    652,500 
         15,109,093 
Costa Rica — 1.0%          
Costa Rica Government International Bond          
6.13%, 02/19/31(a)(c)   400    404,000 
6.55%, 04/03/34 (Call 01/03/34)(a)   800    818,400 
7.00%, 04/04/44(a)   650    658,450 
7.16%, 03/12/45(a)   600    616,500 
7.30%, 11/13/54 (Call 05/13/53)(a)   695    725,928 
         3,223,278 
Dominican Republic — 3.3%          
Dominican Republic International Bond          
4.50%, 01/30/30(a)   1,000    911,500 
4.88%, 09/23/32(a)   1,500    1,338,750 
5.30%, 01/21/41(a)   850    714,850 
5.50%, 02/22/29 (Call 12/22/28)(a)   850    822,120 
5.88%, 01/30/60(a)   1,650    1,398,375 
5.95%, 01/25/27(a)   850    850,425 
6.00%, 07/19/28(a)   650    651,625 
6.00%, 02/22/33 (Call 11/22/32)(a)   850    820,165 
6.40%, 06/05/49(a)(c)   650    601,250 
6.50%, 02/15/48(a)   450    424,800 
6.85%, 01/27/45(a)   1,000    977,500 
6.88%, 01/29/26(a)(c)   800    812,400 
7.45%, 04/30/44(a)   850    886,125 
         11,209,885 
Ecuador — 0.9%          
Ecuador Government International Bond          
0.00%, 07/31/30(a)(i)   482    159,333 
6.90%, 07/31/30(a)(j)   1,756    921,548 
6.90%, 07/31/35(a)(j)   3,635    1,474,211 
6.90%, 07/31/40(a)(j)   1,463    535,493 
         3,090,585 
Egypt — 2.5%          
Egypt Government International Bond          
5.80%, 09/30/27(a)   600    447,750 
5.88%, 06/11/25(a)   600    547,500 
5.88%, 02/16/31(a)   800    521,000 
6.59%, 02/21/28(a)   800    594,000 
7.05%, 01/15/32(a)   600    401,250 
7.30%, 09/30/33(a)   500    330,000 
7.50%, 01/31/27(a)   1,000    818,000 
7.50%, 02/16/61(a)   600    345,000 
7.60%, 03/01/29(a)   800    588,000 
7.63%, 05/29/32(a)   1,000    677,500 
7.90%, 02/21/48(a)   650    385,937 

 

7

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
           
Egypt (continued)          
8.50%, 01/31/47(a)  $1,300   $793,000 
8.70%, 03/01/49(a)   800    496,000 
8.88%, 05/29/50(a)   1,000    627,500 
Egyptian Financial Co. for Sovereign Taskeek (The), 10.88%, 02/28/26(a)   800    792,750 
         8,365,187 
El Salvador — 0.4%          
El Salvador Government International Bond          
7.12%, 01/20/50 (Call 07/20/49)(a)   550    391,875 
7.65%, 06/15/35(a)   450    350,550 
9.50%, 07/15/52 (Call 01/15/52)(a)   550    461,780 
         1,204,205 
Ghana — 0.7%          
Ghana Government International Bond          
6.38%, 02/11/27(a)(g)(h)   600    269,250 
7.63%, 05/16/29(a)(g)(h)   500    221,250 
7.75%, 04/07/29(a)(g)(h)   400    178,000 
7.88%, 02/11/35(a)(g)(h)   400    177,000 
8.13%, 01/18/26(a)(g)(h)   470    223,250 
8.13%, 03/26/32(a)(g)(h)   500    218,750 
8.63%, 04/07/34(a)(g)(h)   400    177,500 
8.63%, 06/16/49(a)(g)(h)   600    259,500 
8.95%, 03/26/51(a)(g)(h)   500    220,625 
10.75%, 10/14/30(a)   600    387,000 
         2,332,125 
Guatemala — 0.4%          
Guatemala Government Bond          
6.13%, 06/01/50 (Call 12/01/49)(a)   700    636,528 
6.60%, 06/13/36 (Call 03/13/36)(a)   600    608,100 
         1,244,628 
Iraq — 0.2%          
Iraq International Bond, 5.80%, 01/15/28(Call 03/17/24)(a)   625    582,031 
           
Ivory Coast — 0.5%          
Ivory Coast Government International Bond          
6.13%, 06/15/33(a)   600    538,500 
7.63%, 01/30/33(b)   400    396,400 
8.25%, 01/30/37(b)   800    800,800 
         1,735,700 
Jamaica — 0.7%          
Jamaica Government International Bond          
6.75%, 04/28/28   500    521,563 
7.88%, 07/28/45(c)   900    1,046,250 
8.00%, 03/15/39(c)   600    713,100 
         2,280,913 
Jordan — 0.7%          
Jordan Government International Bond          
5.75%, 01/31/27(a)   400    382,000 
5.85%, 07/07/30(a)   900    805,050 
6.13%, 01/29/26(a)   400    388,500 
7.38%, 10/10/47(a)   400    340,000 
7.50%, 01/13/29(a)   600    587,250 
         2,502,800 
Kenya — 0.5%          
Republic of Kenya Government International Bond          
6.30%, 01/23/34(a)   400    310,500 
7.25%, 02/28/28(a)   400    357,000 
8.00%, 05/22/32(a)   600    525,000 
Security  Par
(000)		   Value 
           
Kenya (continued)          
8.25%, 02/28/48(a)  $600   $477,750 
         1,670,250 
Lebanon — 0.1%          
Lebanon Government International Bond          
6.00%, 01/27/23(a)(g)(h)   500    28,500 
6.10%, 10/04/24(a)(g)(h)   730    41,610 
6.60%, 11/27/26(a)(g)(h)   760    43,320 
6.65%, 02/26/30(a)(g)(h)   760    43,320 
6.75%, 11/29/27(a)(g)(h)   470    26,790 
6.85%, 03/23/27(a)(g)(h)   700    39,900 
7.00%, 03/23/32(a)(g)(h)   475    27,075 
         250,515 
Morocco — 0.6%          
Morocco Government International Bond          
3.00%, 12/15/32(a)   400    322,200 
4.00%, 12/15/50(a)   600    408,870 
5.95%, 03/08/28(a)   600    612,000 
6.50%, 09/08/33(a)   700    723,625 
         2,066,695 
Nigeria — 1.8%          
Nigeria Government International Bond          
6.13%, 09/28/28(a)   600    521,250 
6.50%, 11/28/27(a)   800    724,400 
7.14%, 02/23/30(a)   714    622,965 
7.38%, 09/28/33(a)   800    658,000 
7.63%, 11/21/25(a)   300    294,750 
7.63%, 11/28/47(a)   600    455,250 
7.70%, 02/23/38(a)   600    472,920 
7.88%, 02/16/32(a)   800    694,000 
8.25%, 09/28/51(a)   600    477,000 
8.38%, 03/24/29(a)   800    749,000 
8.75%, 01/21/31(a)   600    555,750 
         6,225,285 
Oman — 3.2%          
Oman Government International Bond          
4.75%, 06/15/26(a)   1,200    1,182,000 
5.38%, 03/08/27(a)   750    750,937 
5.63%, 01/17/28(a)   1,200    1,213,950 
6.00%, 08/01/29(a)   1,000    1,021,250 
6.25%, 01/25/31(a)   1,000    1,034,050 
6.50%, 03/08/47(a)   1,000    984,875 
6.75%, 10/28/27(a)   600    628,500 
6.75%, 01/17/48(a)   1,400    1,410,500 
7.00%, 01/25/51(a)   400    411,960 
7.38%, 10/28/32(a)   600    667,500 
Oman Sovereign Sukuk Co.          
4.88%, 06/15/30(a)   800    786,000 
5.93%, 10/31/25(a)   800    806,000 
         10,897,522 
Pakistan — 0.6%          
Pakistan Global Sukuk Programme Co. Ltd. (The),          
7.95%, 01/31/29(a)   400    324,044 
Pakistan Government International Bond          
6.00%, 04/08/26(a)   700    540,347 
6.88%, 12/05/27(a)   750    538,208 
7.38%, 04/08/31(a)   800    516,088 
         1,918,687 

 

8

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
           
Paraguay — 0.4%          
Paraguay Government International Bond          
4.95%, 04/28/31 (Call 01/28/31)(a)  $400   $384,800 
5.40%, 03/30/50 (Call 09/30/49)(a)   600    516,600 
6.10%, 08/11/44(a)   400    380,800 
         1,282,200 
Senegal — 0.3%          
Senegal Government International Bond          
6.25%, 05/23/33(a)   500    431,250 
6.75%, 03/13/48(a)   600    447,000 
         878,250 
Serbia — 0.3%          
Serbia International Bond          
2.13%, 12/01/30(a)   535    426,663 
6.50%, 09/26/33(a)   500    510,737 
         937,400 
South Africa — 2.5%          
Republic of South Africa Government          
International Bond          
4.30%, 10/12/28(c)   1,000    915,675 
4.85%, 09/27/27(c)   600    576,390 
4.85%, 09/30/29(c)   900    818,055 
4.88%, 04/14/26(c)   604    588,900 
5.00%, 10/12/46(c)   400    277,000 
5.38%, 07/24/44(c)   500    372,188 
5.65%, 09/27/47(c)   800    596,540 
5.75%, 09/30/49   1,550    1,148,627 
5.88%, 09/16/25   986    984,768 
5.88%, 06/22/30(c)   700    657,685 
5.88%, 04/20/32(c)   600    550,440 
7.30%, 04/20/52   900    794,700 
         8,280,968 
Sri Lanka — 0.7%          
Sri Lanka Government International Bond          
6.20%, 05/11/27(a)(g)(h)   700    355,327 
6.75%, 04/18/28(a)(g)(h)   700    357,140 
6.83%, 07/18/26(a)(g)(h)   600    314,100 
6.85%, 03/14/24(a)(g)(h)   600    307,716 
6.85%, 11/03/25(a)(g)(h)   900    469,224 
7.55%, 03/28/30(a)(g)(h)   400    201,044 
7.85%, 03/14/29(a)(g)(h)   700    352,002 
         2,356,553 
Trinidad And Tobago — 0.1%          
Trinidad & Tobago Government International Bond,          
4.50%, 08/04/26(a)   400    390,000 
           
Turkey — 10.5%          
Hazine Mustesarligi Varlik Kiralama AS          
5.13%, 06/22/26(a)   1,200    1,151,250 
7.25%, 02/24/27(a)   1,500    1,503,750 
8.51%, 01/14/29(a)   1,200    1,243,500 
9.76%, 11/13/25(a)   1,400    1,471,820 
Turkey Government International Bond          
4.25%, 03/13/25(c)   1,000    976,000 
4.25%, 04/14/26(c)   900    857,250 
4.75%, 01/26/26(c)   800    773,200 
4.88%, 10/09/26(c)   1,500    1,431,750 
4.88%, 04/16/43   1,770    1,194,750 
5.13%, 02/17/28(c)   1,000    930,000 
5.25%, 03/13/30   900    796,050 
5.75%, 05/11/47(c)   1,800    1,314,810 
Security  Par
(000)		   Value 
           
Turkey (continued)          
5.88%, 06/26/31(c)  $900   $808,425 
5.95%, 01/15/31(c)   1,200    1,089,600 
6.00%, 03/25/27(c)   1,700    1,651,550 
6.00%, 01/14/41(c)   1,500    1,191,375 
6.13%, 10/24/28(c)   1,300    1,247,155 
6.38%, 10/14/25(c)   1,200    1,197,000 
6.50%, 09/20/33(c)   700    638,400 
6.63%, 02/17/45(c)   1,400    1,156,750 
6.75%, 05/30/40(c)   900    778,500 
6.88%, 03/17/36(c)   1,350    1,225,125 
7.25%, 03/05/38(c)   500    465,000 
7.63%, 04/26/29(c)   1,400    1,405,950 
8.00%, 02/14/34(c)   750    756,037 
8.60%, 09/24/27   1,000    1,048,750 
9.13%, 07/13/30   1,300    1,384,500 
9.38%, 03/14/29(c)   1,100    1,182,500 
9.38%, 01/19/33(c)   1,400    1,519,000 
9.88%, 01/15/28   1,800    1,956,600 
11.88%, 01/15/30(c)   700    851,200 
Turkiye Vakiflar Bankasi TAO, 5.50%, 10/01/26(a)   200    192,500 
         35,390,047 
Ukraine — 0.6%          
Ukraine Government International Bond          
6.88%, 05/21/31(a)(g)(h)   800    174,000 
7.25%, 03/15/35(a)(g)(h)   1,200    271,500 
7.38%, 09/25/34(a)(g)(h)   1,600    361,600 
7.75%, 09/01/25(a)(g)(h)   625    170,938 
7.75%, 09/01/26(a)(g)(h)   850    220,787 
7.75%, 09/01/27(a)(g)(h)   600    151,200 
7.75%, 09/01/28(a)(g)(h)   700    175,000 
7.75%, 09/01/29(a)(g)(h)   750    186,000 
9.75%, 11/01/30(a)(g)(h)   800    211,200 
         1,922,225 
United Arab Emirates — 1.1%          
Emirate of Dubai Government International Bond,          
5.25%, 01/30/43(a)   400    375,500 
Emirate of Dubai Government International Bonds,          
3.90%, 09/09/50(a)   600    437,250 
Finance Department Government of Sharjah          
4.00%, 07/28/50(a)   500    321,250 
6.50%, 11/23/32(a)   500    516,250 
Sharjah Sukuk Program Ltd.          
2.94%, 06/10/27(a)   400    369,000 
3.23%, 10/23/29(a)   500    446,250 
3.85%, 04/03/26(a)   400    386,000 
4.23%, 03/14/28(a)   800    764,000 
         3,615,500 
Zambia — 0.2%          
Zambia Government International Bond          
8.50%, 04/14/24(a)(g)(h)   400    252,000 
8.97%, 07/30/27(a)(g)(h)   600    374,250 
         626,250 
Total Foreign Government Obligations — 51.4%          
(Cost: $210,309,840)        172,563,517 
           
Total Long-Term Investments — 97.3%          
(Cost: $379,722,115)        326,709,891 

 

9

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Short-Term Securities          
           
Money Market Funds — 19.5%          
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.51%(k)(l)(m)   62,055,595   $62,092,829 
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.31%   3,510,000    3,510,000 
           
Total Short-Term Securities — 19.5%          
(Cost: $65,578,626)        65,602,829 
           
Total Investments — 116.8%          
(Cost: $445,300,741)        392,312,720 
           
Liabilities in Excess of Other Assets — (16.8)%        (56,564,919)
           
Net Assets — 100.0%       $335,747,801 

 

(a)This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
(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)All or a portion of this security is on loan.

(d)Perpetual security with no stated maturity date.

(e)Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

(f)Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.

(g)Issuer filed for bankruptcy and/or is in default.

(h)Non-income producing security.

(i)Zero-coupon bond.

(j)Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

(k)Affiliate of the Fund.

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

(m)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 January 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer  Value at
10/31/23		   Purchases
at Cost		   Proceeds
from Sale		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
01/31/24		   Shares
Held at
01/31/24		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Institutional, SL Agency Shares  $38,876,276   $23,208,634(a)  $—   $3,839   $4,080   $62,092,829    62,055,595   $55,539(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   4,080,000    —    (570,000)(a)   —    —    3,510,000    3,510,000    25,362    — 
                  $3,839   $4,080   $65,602,829        $80,901   $— 

 

(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.

 

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.

 

10

 

Schedule of Investments (unaudited) (continued) iShares® J.P. Morgan EM High Yield Bond ETF
January 31, 2024

 

 

Fair Value Hierarchy as of Period End (continued)

 

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                    
Corporate Bonds & Notes  $—   $154,146,374   $—   $154,146,374 
Foreign Government Obligations   —    172,563,517    —    172,563,517 
Short-Term Securities                    
Money Market Funds   62,092,829    —    —    65,602,829 
   $62,092,829   $326,709,891   $—   $392,312,720 

 

Portfolio Abbreviation
 
CJSC Closed Joint Stock Company
CMT Constant Maturity Treasury
PIK Payment-in-kind
PJSC Public Joint Stock Company
   
Currency Abbreviation
USD United States Dollar

11