NPORT-EX 2 NPORT_2QWD_25086528_0124.htm

 

Schedule of Investments (unaudited) iShares® International High Yield Bond ETF
January 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Par
(000)		   Value 
         
Corporate Bonds & Notes          
           
Australia — 0.2%          
APA Infrastructure Ltd., 7.13%, 11/09/83(a)(b)  EUR100   $115,533 
           
Austria — 0.5%          
ams-OSRAM AG, 10.50%, 03/30/29(a)  EUR100    116,600 
Benteler International AG, 9.38%, 05/15/28 (Call 05/15/25)(a)  EUR100    115,476 
         232,076 
Belgium — 0.2%          
Telenet Finance Luxembourg Notes Sarl, 3.50%, 03/01/28 (Call 02/12/24)(a)  EUR100    102,709 
           
Canada — 1.7%          
Air Canada, 4.63%, 08/15/29 (Call 02/15/26)(c)  CAD300    208,845 
Mattamy Group Corp., 4.63%, 03/01/28 (Call 03/01/24)(a)  CAD50    34,563 
Parkland Corp.          
3.88%, 06/16/26 (Call 06/16/24)(c)  CAD150    106,596 
4.38%, 03/26/29 (Call 03/26/24)  CAD75    51,008 
Primo Water Holdings Inc., 3.88%, 10/31/28 (Call 02/12/24)(a)  EUR100    104,079 
Southern Pacific Resource Corp., 8.75%, 01/25/18(c)(d)(e)(f)  CAD50    — 
Tamarack Valley Energy Ltd., 7.25%, 05/10/27 (Call 05/10/24)(c)  CAD25    18,290 
Videotron Ltd.          
3.13%, 01/15/31 (Call 01/15/26)  CAD100    64,088 
3.63%, 06/15/28 (Call 06/15/24)(c)  CAD150    103,648 
4.50%, 01/15/30 (Call 10/15/24)  CAD150    105,460 
         796,577 
Cyprus — 0.2%          
Bank of Cyprus PCL, 2.50%, 06/24/27 (Call 06/24/26)(a)(b)  EUR100    100,656 
           
Czech Republic — 0.2%          
Allwyn Entertainment Financing U.K. PLC, 7.25%, 04/30/30 (Call 04/30/26)(a)  EUR100    114,075 
           
Finland — 0.2%          
Citycon Treasury BV, 1.25%, 09/08/26 (Call 06/08/26)(a)  EUR100    95,907 
           
France — 14.9%          
Adevinta ASA          
2.63%, 11/15/25 (Call 02/12/24)(a)  EUR100    107,598 
3.00%, 11/15/27 (Call 02/12/24)(a)  EUR100    107,927 
Air France-KLM, 8.13%, 05/31/28 (Call 02/28/28)(a)  EUR100    122,084 
Altice France SA/France          
2.13%, 02/15/25 (Call 03/01/24)(a)  EUR150    153,227 
3.38%, 01/15/28 (Call 02/12/24)(a)  EUR100    83,573 
4.00%, 07/15/29 (Call 04/15/24)(a)  EUR100    80,290 
4.13%, 01/15/29 (Call 03/01/24)(a)  EUR100    82,333 
4.25%, 10/15/29 (Call 10/15/24)(a)  EUR100    81,477 
5.88%, 02/01/27 (Call 02/12/24)(a)  EUR100    92,482 
Atos SE          
1.00%, 11/12/29 (Call 08/12/29)(a)  EUR200    56,264 
1.75%, 05/07/25 (Call 02/07/25)(a)  EUR100    42,070 
Banijay Entertainment SASU, 7.00%, 05/01/29 (Call 11/01/25)(a)  EUR100    113,669 
Banijay Group SAS, 6.50%, 03/01/26 (Call 03/01/24)(a)  EUR100    108,973 
CAB SELAS, 3.38%, 02/01/28 (Call 03/01/24)(a)  EUR200    196,073 
Casino Guichard Perrachon SA 5.25%, 04/15/27 (Call 02/12/24)(a)(d)(f)  EUR100    506 
Security  Par
(000)		   Value 
         
France (continued)           
6.63%, 01/15/26 (Call 02/12/24)(a)(d)(f)  EUR 100   $482 
Cerba Healthcare SACA, 3.50%, 05/31/28 (Call 05/31/24)(a)  EUR 100    94,632 
CGG SA, 7.75%, 04/01/27 (Call 04/01/24)(a)  EUR 100    95,709 
Chrome Holdco SASU, 5.00%, 05/31/29 (Call 05/31/24)(a)  EUR 100    84,022 
Elis SA           
1.63%, 04/03/28 (Call 01/03/28)(a)  EUR 100    99,660 
4.13%, 05/24/27 (Call 02/24/27)(a)  EUR 100    109,729 
Emeria SASU, 7.75%, 03/31/28 (Call 02/07/25)(a)  EUR 100    103,586 
Eutelsat SA           
1.50%, 10/13/28 (Call 07/13/28)(a)  EUR 100    75,406 
2.00%, 10/02/25 (Call 07/02/25)(a)  EUR 100    100,196 
Forvia SE           
2.38%, 06/15/27 (Call 02/12/24)(a)  EUR 100    100,534 
2.63%, 06/15/25 (Call 03/01/24)(a)  EUR 100    105,569 
2.75%, 02/15/27 (Call 03/01/24)(a)  EUR 225    230,222 
3.13%, 06/15/26 (Call 03/01/24)(a)  EUR 200    209,567 
3.75%, 06/15/28 (Call 03/01/24)(a)  EUR 200    209,191 
7.25%, 06/15/26 (Call 11/15/24)(a)  EUR 100    112,676 
Iliad Holding SASU           
5.13%, 10/15/26 (Call 02/12/24)(a)  EUR 150    161,763 
5.63%, 10/15/28 (Call 10/15/24)(a)  EUR 100    108,330 
iliad SA           
1.88%, 04/25/25 (Call 01/25/25)(a)  EUR 200    209,058 
1.88%, 02/11/28 (Call 11/11/27)(a)  EUR 100    98,755 
2.38%, 06/17/26 (Call 03/17/26)(a)  EUR 100    103,207 
5.38%, 06/14/27 (Call 03/14/27)(a)  EUR 100    110,784 
5.38%, 02/15/29 (Call 11/15/28)(a)  EUR 100    110,730 
5.63%, 02/15/30 (Call 11/15/29)(a)  EUR 100    112,040 
IPD 3 BV, 8.00%, 06/15/28 (Call 06/15/25)(a)  EUR 100    113,535 
La Financiere Atalian SASU, 4.00%, 05/15/24 (Call 02/12/24)(a)  EUR 100    84,460 
Loxam SAS           
2.88%, 04/15/26 (Call 02/12/24)(a)  EUR 100    104,469 
6.38%, 05/15/28 (Call 05/15/25)(a)  EUR 100    111,634 
6.38%, 05/31/29 (Call 12/15/25)(a)  EUR 100    110,962 
Paprec Holding SA           
3.50%, 07/01/28 (Call 07/01/24)(a)  EUR 100    102,781 
6.50%, 11/17/27 (Call 11/17/25)(a)  EUR 100    114,169 
Parts Europe SA, 6.50%, 07/16/25 (Call 02/06/24)(a)  EUR 100    107,869 
Picard Groupe SAS, 3.88%, 07/01/26 (Call 03/13/24)(a)  EUR 200    209,072 
RCI Banque SA, 2.63%, 02/18/30 (Call 02/18/25)(a)(b)  EUR 100    105,243 
Renault SA           
1.00%, 11/28/25 (Call 08/28/25)(a)  EUR 70    72,008 
1.25%, 06/24/25 (Call 03/24/25)(a)  EUR 200    207,307 
2.38%, 05/25/26 (Call 02/25/26)(a)  EUR 200    207,492 
2.50%, 06/02/27 (Call 03/02/27)(a)  EUR 200    205,249 
2.50%, 04/01/28 (Call 01/01/28)(a)  EUR 100    101,813 
Rexel SA           
2.13%, 12/15/28 (Call 12/15/24)(a)  EUR 100    99,804 
5.25%, 09/15/30 (Call 09/15/27)(a)  EUR 100    111,390 
SNF Group SACA, 2.00%, 02/01/26 (Call 02/12/24)(a)  EUR 100    104,020 
Tereos Finance Groupe I SA           
7.25%, 04/15/28 (Call 04/15/25)(a)  EUR 100    113,933 
7.50%, 10/30/25 (Call 03/01/24)(a)  EUR 100    109,961 
Valeo SE           
1.00%, 08/03/28 (Call 05/03/28)(a)  EUR 200    188,170 
1.50%, 06/18/25 (Call 03/18/25)(a)  EUR 100    104,464 
5.38%, 05/28/27 (Call 02/28/27)(a)  EUR 100    111,330 

 

1

 

 

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

 

Security  Par
(000)		   Value 
         
France (continued)           
5.88%, 04/12/29(a)  EUR 100   $114,517 
          7,190,046 
Germany — 9.8%           
Bayer AG           
3.13%, 11/12/79 (Call 08/12/27)(a)(b)  EUR 100    96,550 
5.38%, 03/25/82 (Call 06/25/30)(a)(b)  EUR 100    101,954 
6.63%, 09/25/83(a)(b)  EUR 200    218,431 
7.00%, 09/25/83(a)(b)  EUR 100    110,523 
Series N5.5, 4.50%, Series N5.5, 03/25/82 (Call 06/25/27)(a)(b)  EUR 100    102,110 
Bertelsmann SE & Co. KGaA, 3.50%, 04/23/75 (Call 04/23/27)(a)(b)  EUR 100    103,330 
Cheplapharm Arzneimittel GmbH           
4.38%, 01/15/28 (Call 03/01/24)(a)  EUR 150    156,751 
7.50%, 05/15/30 (Call 05/15/26)(a)  EUR 100    113,684 
Commerzbank AG           
4.00%, 03/23/26(a)  EUR 100    107,839 
4.00%, 03/30/27(a)  EUR 100    108,482 
4.00%, 12/05/30 (Call 09/05/25)(a)(b)  EUR 100    106,603 
6.50%, 12/06/32 (Call 09/06/27)(a)(b)  EUR 100    113,990 
6.75%, 10/05/33 (Call 07/05/28)(a)(b)  EUR 100    115,415 
8.63%, 02/28/33 (Call 11/28/27)(a)(b)  GBP 100    134,556 
Commerzbank Ag Subordinated, 1.38%, 12/29/31 (Call 09/29/26)(a)(b)  EUR 100    97,998 
Douglas GmbH, 6.00%, 04/08/26 (Call 03/01/24)(a)  EUR 200    214,259 
Evonik Industries AG, 1.38%, 09/02/81 (Call 09/02/26)(a)(b)  EUR 100    96,867 
Gruenenthal GmbH, 3.63%, 11/15/26 (Call 03/01/24)(a)  EUR 100    105,967 
Gruenenthal GMBH, 4.13%, 05/15/28 (Call 05/15/24)(a)  EUR 100    106,351 
Nidda Healthcare Holding GmbH, 7.50%, 08/21/26 (Call 04/30/24)(a)  EUR 200    223,639 
Schaeffler AG           
2.75%, 10/12/25 (Call 07/12/25)(a)  EUR 100    105,733 
2.88%, 03/26/27 (Call 12/26/26)(a)  EUR 75    78,882 
3.38%, 10/12/28 (Call 07/12/28)(a)  EUR 200    208,542 
4.75%, 08/14/29 (Call 05/14/29)(a)  EUR 100    109,553 
Techem Verwaltungsgesellschaft 675 mbH, 2.00%, 07/15/25 (Call 03/01/24)(a)  EUR 250    263,408 
thyssenkrupp AG, 2.50%, 02/25/25(a)  EUR 100    106,326 
TK Elevator Holdco GmbH, 6.63%, 07/15/28  (Call 03/01/24)(a)  EUR 90    93,372 
TK Elevator Midco GmbH, 4.38%, 07/15/27 (Call 02/12/24)(a)  EUR 100    105,255 
ZF Europe Finance BV           
2.00%, 02/23/26 (Call 12/23/25)(a)  EUR 100    102,565 
2.50%, 10/23/27 (Call 07/23/27)(a)  EUR 100    100,189 
3.00%, 10/23/29 (Call 07/23/29)(a)  EUR 100    98,025 
4.75%, 01/31/29 (Call 10/31/28)(a)  EUR 100    107,609 
6.13%, 03/13/29 (Call 12/13/28)(a)  EUR 100    113,697 
ZF Finance GmbH           
2.00%, 05/06/27 (Call 02/06/27)(a)  EUR 100    99,761 
2.25%, 05/03/28 (Call 02/03/28)(a)  EUR 100    97,785 
2.75%, 05/25/27 (Call 02/25/27)(a)  EUR 100    101,966 
3.00%, 09/21/25 (Call 06/21/25)(a)  EUR 100    105,522 
3.75%, 09/21/28 (Call 06/21/28)(a)  EUR 100    103,265 
5.75%, 08/03/26 (Call 07/03/26)(a)  EUR 100    110,819 
          4,747,573 
Security  Par
(000)		   Value 
         
Greece — 4.0%           
Alpha Bank SA           
2.50%, 03/23/28 (Call 03/23/27)(a)(b)  EUR 100   $100,306 
7.50%, 06/16/27 (Call 06/16/26)(a)(b)  EUR 100    115,141 
Alpha Services and Holdings SA           
4.25%, 02/13/30 (Call 02/13/25)(a)(b)  EUR 100    105,334 
5.50%, 06/11/31 (Call 03/11/26)(a)(b)  EUR 100    105,504 
Eurobank SA           
2.25%, 03/14/28 (Call 03/14/27)(a)(b)  EUR 100    101,511 
5.88%, 11/28/29(a)(b)  EUR 100    112,513 
7.00%, 01/26/29 (Call 01/26/28)(a)(b)  EUR 200    234,760 
National Bank of Greece SA           
2.75%, 10/08/26 (Call 10/08/25)(a)(b)  EUR 100    105,563 
4.50%, 01/29/29(a)(b)  EUR 100    107,777 
8.00%, 01/03/34(a)(b)  EUR 100    116,983 
Piraeus Bank SA           
6.75%, 12/05/29(a)(b)  EUR 100    114,012 
7.25%, 07/13/28(a)(b)  EUR 150    171,703 
Piraeus Financial Holdings SA           
5.50%, 02/19/30 (Call 02/19/25)(a)(b)  EUR 100    106,426 
7.25%, 04/17/34(a)(b)  EUR 100    110,110 
Public Power Corp. SA           
3.38%, 07/31/28 (Call 07/31/24)(a)  EUR 100    102,947 
4.38%, 03/30/26 (Call 03/01/24)(a)  EUR 100    107,576 
          1,918,166 
Israel — 2.2%           
Teva Pharmaceutical Finance Netherlands II BV           
1.63%, 10/15/28(a)  EUR 150    138,968 
1.88%, 03/31/27 (Call 12/31/26)(a)  EUR 200    197,797 
3.75%, 05/09/27 (Call 02/09/27)  EUR 150    156,599 
4.38%, 05/09/30 (Call 02/09/30)  EUR 200    202,607 
4.50%, 03/01/25 (Call 12/01/24)  EUR 100    107,669 
7.38%, 09/15/29 (Call 06/15/29)  EUR 100    117,366 
7.88%, 09/15/31 (Call 06/15/31)  EUR 100    122,086 
          1,043,092 
Italy — 14.5%           
Banca IFIS SpA, 6.13%, 01/19/27(a)  EUR 100    110,854 
Banca Monte dei Paschi di Siena SpA           
1.88%, 01/09/26(a)  EUR 100    101,988 
2.63%, 04/28/25(a)  EUR 100    104,882 
6.75%, 03/02/26 (Call 03/02/25), (3-mo. EURIBOR + 3.206%)(a)(b)  EUR 125    137,081 
6.75%, 09/05/27, (3-mo. EURIBOR + 3.283%)(a)(b)  EUR 100    113,007 
10.50%, 07/23/29(a)  EUR 100    123,748 
Banca Popolare di Sondrio SPA, 5.50%, 09/26/28(a)(b)  EUR 100    112,518 
Banco BPM SpA           
3.25%, 01/14/31 (Call 01/14/26)(a)(b)  EUR 100    104,651 
4.88%, 01/17/30, (3-mo. EURIBOR + 2.350%)(a)(b)  EUR 150    164,682 
6.00%, 09/13/26(a)  EUR 150    170,016 
6.00%, 01/21/28 (Call 01/21/27),  (3-mo. EURIBOR + 3.300%)(a)(b)  EUR 150    169,813 
6.00%, 06/14/28, (3-mo. EURIBOR + 2.800%)(a)(b)  EUR 150    169,942 
BPER Banca           
1.88%, 07/07/25(a)  EUR 100    105,022 
3.88%, 07/25/32 (Call 01/25/27)(a)(b)  EUR 200    204,726 
6.13%, 02/01/28 (Call 02/01/27), (3-mo. EURIBOR + 3.600%)(a)(b)  EUR 150    171,506 
Cerved Group SpA, 6.00%, 02/15/29 (Call 03/15/25)(a)  EUR 100    98,330 
Engineering - Ingegneria Informatica - SpA, 5.88%, 09/30/26 (Call 02/14/24)(a)  EUR 100    104,273 

 

2

 

 

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

 

Security  Par
(000)		   Value 
         
Italy (continued)           
Iccrea Banca SpA           
2.13%, 01/17/27 (Call 01/17/26), (3-mo. EURIBOR + 2.280%)(a)(b)  EUR 100   $103,993 
6.38%, 09/20/27 (Call 09/20/26), (3-mo. EURIBOR + 4.077%)(a)(b)  EUR 100    113,736 
6.88%, 01/20/28 (Call 01/20/27), (3-mo. EURIBOR + 4.045%)(a)(b)  EUR 100    116,055 
IMA Industria Macchine Automatiche SpA, 3.75%, 01/15/28 (Call 02/12/24)(a)  EUR 100    103,707 
Infrastrutture Wireless Italiane SpA           
1.63%, 10/21/28 (Call 07/21/28)(a)  EUR 100    99,703 
1.75%, 04/19/31 (Call 01/19/31)(a)  EUR 100    96,024 
1.88%, 07/08/26 (Call 04/08/26)(a)  EUR 150    155,878 
Intesa Sanpaolo SpA           
2.93%, 10/14/30(a)  EUR 100    97,179 
3.93%, 09/15/26(a)  EUR 200    215,784 
5.15%, 06/10/30(a)  GBP 100    115,145 
6.18%, 02/20/34 (Call 11/20/28)(a)(b)  EUR 200    225,553 
Lottomatica SpA, 7.13%, 06/01/28 (Call 06/01/25)(a)  EUR 100    114,017 
Mediobanca Banca di Credito Finanziario SpA, 3.75%, 06/16/26  EUR 50    53,457 
Mundys SpA           
1.88%, 07/13/27 (Call 04/13/27)(a)  EUR 175    175,515 
1.88%, 02/12/28 (Call 11/12/27)(a)  EUR 200    195,019 
4.75%, 01/24/29(a)  EUR 100    108,621 
Nexi SpA           
1.63%, 04/30/26 (Call 01/30/26)(a)  EUR 200    203,770 
2.13%, 04/30/29 (Call 01/30/29)(a)  EUR 150    142,929 
Rossini Sarl, 6.75%, 10/30/25 (Call 02/12/24)(a)  EUR 100    107,934 
Saipem Finance International BV, 3.13%, 03/31/28 (Call 12/31/27)(a)  EUR 100    103,083 
Telecom Italia SpA           
6.88%, 02/15/28 (Call 11/15/27)(a)  EUR 300    345,100 
7.88%, 07/31/28 (Call 05/01/28)(a)  EUR 250    297,523 
Telecom Italia SpA/Milano           
1.63%, 01/18/29 (Call 10/18/28)(a)  EUR 100    92,592 
2.38%, 10/12/27 (Call 07/12/27)(a)  EUR 100    100,752 
2.75%, 04/15/25 (Call 01/15/25)(a)  EUR 200    211,248 
2.88%, 01/28/26 (Call 10/28/25)(a)  EUR 200    209,174 
3.00%, 09/30/25(a)  EUR 100    105,619 
UniCredit SpA           
2.73%, 01/15/32 (Call 01/15/27)(a)(b)  EUR 200    202,750 
5.38%, 04/16/34(a)(b)  EUR 200    217,887 
Webuild SpA           
3.88%, 07/28/26 (Call 01/28/26)(a)  EUR 100    106,157 
5.88%, 12/15/25 (Call 06/15/25)(a)  EUR 100    110,281 
7.00%, 09/27/28(a)  EUR 100    113,588 
          7,026,812 
Japan — 1.5%           
SoftBank Group Corp.           
2.88%, 01/06/27 (Call 10/06/26)(a)  EUR 200    203,257 
3.13%, 09/19/25 (Call 06/21/25)(a)  EUR 100    105,120 
3.38%, 07/06/29 (Call 04/06/29)(a)  EUR 125    123,202 
3.88%, 07/06/32 (Call 04/06/32)(a)  EUR 100    94,672 
4.00%, 09/19/29 (Call 06/21/29)(a)  EUR 100    100,890 
4.50%, 04/20/25 (Call 01/20/25)(a)  EUR 100    107,645 
          734,786 
Luxembourg — 3.3%           
Altice Financing SA           
3.00%, 01/15/28 (Call 03/01/24)(a)  EUR 200    189,587 
Security  Par
(000)		   Value 
         
Luxembourg (continued)           
4.25%, 08/15/29 (Call 08/15/24)(a)  EUR 100   $94,741 
Altice Finco SA, 4.75%, 01/15/28 (Call 03/01/24)(a)  EUR 100    91,138 
Altice France Holding SA           
4.00%, 02/15/28 (Call 03/01/24)(a)  EUR 100    46,008 
8.00%, 05/15/27 (Call 02/12/24)(a)  EUR 200    113,982 
Cidron Aida Finco Sarl, 5.00%, 04/01/28 (Call 04/01/24)(a)  EUR 100    104,132 
Garfunkelux Holdco 3 SA, 6.75%, 11/01/25 (Call 03/01/24)(a)  EUR 100    86,637 
INEOS Finance PLC           
2.13%, 11/15/25 (Call 02/12/24)(a)  EUR 100    105,666 
2.88%, 05/01/26 (Call 02/12/24)(a)  EUR 175    184,763 
6.63%, 05/15/28 (Call 02/15/25)(a)  EUR 100    110,786 
Matterhorn Telecom SA, 3.13%, 09/15/26 (Call 03/01/24)(a)  EUR 200    209,312 
Summer BC Holdco A Sarl, 9.25%, 10/31/27 (Call 03/01/24)(a)  EUR 90    93,983 
Summer BC Holdco B Sarl, 5.75%, 10/31/26 (Call 03/01/24)(a)  EUR 150    158,182 
          1,588,917 
Netherlands — 3.1%           
GTCR W-2 Merger Sub LLC/GTCR W Dutch Finance Sub BV, 8.50%, 01/15/31 (Call 01/15/27)(a)  GBP 100    136,026 
PPF Telecom Group BV           
2.13%, 01/31/25 (Call 10/31/24)(a)  EUR 100    105,749 
3.13%, 03/27/26 (Call 12/27/25)(a)  EUR 100    105,844 
Q-Park Holding I BV           
2.00%, 03/01/27 (Call 03/01/24)(a)  EUR 100    101,185 
5.13%, 03/01/29 (Call 03/01/26)(a)  EUR 100    108,305 
Sigma Holdco BV, 5.75%, 05/15/26 (Call 02/12/24)(a)  EUR 100    100,370 
Sunrise HoldCo IV BV, 3.88%, 06/15/29 (Call 02/12/24)(a)  EUR 100    102,652 
TMNL Holding BV, 3.75%, 01/15/29 (Call 01/15/25)(a)  EUR 100    101,628 
Trivium Packaging Finance BV, 3.75%, 08/15/26 (Call 03/01/24)(a)  EUR 100    105,002 
VZ Vendor Financing II BV, 2.88%, 01/15/29 (Call 02/12/24)(a)  EUR 200    187,907 
WP/AP Telecom Holdings III BV, 5.50%, 01/15/30 (Call 01/15/25)(a)  EUR 100    98,621 
Ziggo Bond Co. BV, 3.38%, 02/28/30 (Call 02/15/25)(a)  EUR 150    137,594 
Ziggo BV, 2.88%, 01/15/30 (Call 10/15/24)(a)  EUR 100    98,115 
          1,488,998 
Norway — 0.3%           
Var Energi ASA, 7.86%, 11/15/83 (Call 11/15/28)(a)(b)  EUR 125    144,006 
            
Portugal — 1.7%           
Banco Comercial Portugues SA, 4.00%, 05/17/32 (Call 11/17/26)(a)(b)  EUR 100    101,439 
EDP - Energias de Portugal SA           
1.50%, 03/14/82 (Call 12/14/26)(a)(b)  EUR 100    97,933 
1.70%, 07/20/80 (Call 04/20/25)(a)(b)  EUR 100    103,199 
1.88%, 08/02/81 (Call 05/02/26)(a)(b)  EUR 100    100,919 
5.94%, 04/23/83 (Call 01/23/28)(a)(b)  EUR 200    224,758 
Energias De Portugal SA, 1.88%, 03/14/82 (Call 06/14/29)(a)(b)  EUR 100    91,342 
Novo Banco SA, 9.88%, 12/01/33 (Call 06/01/28)(a)(b)  EUR 100    121,940 
          841,530 
Slovenia — 0.9%           
United Group BV           
4.00%, 11/15/27 (Call 03/01/24)(a)  EUR 100    101,460 

 

3

 

 

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

 

Security  Par
(000)		   Value 
         
Slovenia (continued)           
4.63%, 08/15/28 (Call 08/15/24)(a)  EUR 100   $101,460 
5.25%, 02/01/30 (Call 02/01/25)(a)  EUR 100    100,316 
6.75%, 02/15/31 (Call 02/05/27)(a)  EUR 100    108,610 
          411,846 
Spain — 9.1%           
Abanca Corp. Bancaria SA, 4.63%, 04/07/30 (Call 04/07/25)(a)(b)  EUR 100    106,757 
Banco de Credito Social Cooperativo SA           
1.75%, 03/09/28 (Call 03/09/27)(a)(b)  EUR 100    97,602 
5.25%, 11/27/31 (Call 05/27/26)(a)(b)  EUR 100    101,085 
8.00%, 09/22/26 (Call 09/22/25)(a)(b)  EUR 100    113,733 
Banco de Sabadell SA           
0.88%, 06/16/28 (Call 06/16/27)(a)(b)  EUR 100    98,095 
1.13%, 03/27/25(a)  EUR 100    104,850 
2.50%, 04/15/31 (Call 01/15/26)(a)(b)  EUR 100    102,138 
2.63%, 03/24/26 (Call 03/24/25)(a)(b)  EUR 100    106,370 
5.25%, 02/07/29 (Call 02/07/28)(a)(b)  EUR 100    112,145 
5.38%, 09/08/26 (Call 09/08/25)(a)(b)  EUR 100    110,238 
5.50%, 09/08/29(a)(b)  EUR 100    112,846 
6.00%, 08/16/33 (Call 05/16/28)(a)(b)  EUR 100    109,559 
Cellnex Finance Co. SA           
0.75%, 11/15/26 (Call 08/15/26)(a)  EUR 100    100,061 
1.00%, 09/15/27 (Call 06/15/27)(a)  EUR 200    198,222 
1.25%, 01/15/29 (Call 10/15/28)(a)  EUR 200    193,798 
1.50%, 06/08/28 (Call 03/08/28)(a)  EUR 100    99,361 
2.00%, 09/15/32 (Call 06/15/32)(a)  EUR 200    187,352 
2.00%, 02/15/33 (Call 11/15/32)(a)  EUR 200    185,372 
2.25%, 04/12/26 (Call 01/12/26)(a)  EUR 100    105,029 
Cellnex Telecom SA           
1.00%, 04/20/27 (Call 01/20/27)(a)  EUR 100    99,870 
1.75%, 10/23/30 (Call 07/23/30)(a)  EUR 100    95,643 
1.88%, 06/26/29 (Call 03/26/29)(a)  EUR 100    98,798 
Cirsa Finance International Sarl           
4.50%, 03/15/27 (Call 02/12/24)(a)  EUR 100    104,777 
7.88%, 07/31/28(a)  EUR 100    112,843 
10.38%, 11/30/27 (Call 11/09/24)(a)  EUR 100    116,074 
Grifols SA           
1.63%, 02/15/25 (Call 03/01/24)(a)  EUR 150    157,254 
2.25%, 11/15/27 (Call 03/01/24)(a)  EUR 100    98,180 
3.20%, 05/01/25 (Call 03/01/24)(a)  EUR 100    102,944 
3.88%, 10/15/28 (Call 10/15/24)(a)  EUR 250    228,009 
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25)(a)(b)  EUR 100    103,451 
Kaixo Bondco Telecom SA, 5.13%, 09/30/29 (Call 09/30/24)(a)  EUR 100    104,179 
Lorca Telecom Bondco SA, 4.00%, 09/18/27 (Call 02/14/24)(a)  EUR 400    419,841 
Unicaja Banco SA           
3.13%, 07/19/32 (Call 01/19/27)(a)(b)  EUR 100    98,816 
7.25%, 11/15/27 (Call 11/15/26)(a)(b)  EUR 100    115,007 
          4,400,299 
Sweden — 3.7%           
Fastighets AB Balder, 2.87%, 06/02/81 (Call 03/02/26)(a)(b)  EUR 100    90,582 
Intrum AB           
3.00%, 09/15/27 (Call 02/12/24)(a)  EUR 200    148,273 
3.50%, 07/15/26 (Call 02/12/24)(a)  EUR 175    141,772 
4.88%, 08/15/25 (Call 02/12/24)(a)  EUR 100    94,293 
Samhallsbyggnadsbolaget i Norden AB           
2.25%, 08/12/27 (Call 05/12/27)(a)  EUR 100    74,363 
2.38%, 09/04/26 (Call 06/04/26)(a)  EUR 100    82,858 
Security  Par
(000)		   Value 
         
Sweden (continued)           
SBB Treasury OYJ           
0.75%, 12/14/28 (Call 09/14/28)(a)  EUR 175   $118,935 
1.13%, 11/26/29 (Call 08/26/29)(a)  EUR 125    84,772 
Stena International SA, 3.75%, 02/01/25 (Call 02/01/24)(a)  EUR 100    107,732 
Verisure Holding AB           
3.25%, 02/15/27 (Call 02/12/24)(a)  EUR 150    155,714 
3.88%, 07/15/26 (Call 02/12/24)(a)  EUR 100    105,996 
7.13%, 02/01/28 (Call 02/01/25)(a)  EUR 100    113,344 
9.25%, 10/15/27 (Call 10/15/24)(a)  EUR 100    115,831 
Verisure Midholding AB, 5.25%, 02/15/29 (Call 02/15/24)(a)  EUR 150    154,538 
Volvo Car AB           
2.50%, 10/07/27 (Call 07/07/27)(a)  EUR 100    101,557 
4.25%, 05/31/28 (Call 02/28/28)(a)  EUR 100    107,479 
          1,798,039 
Switzerland — 0.4%           
Dufry One BV           
2.00%, 02/15/27 (Call 03/01/24)(a)  EUR 100    100,961 
3.38%, 04/15/28 (Call 04/15/24)(a)  EUR 100    103,355 
          204,316 
United Kingdom — 13.1%           
888 Acquisitions Ltd., 7.56%, 07/15/27 (Call 07/15/24)(a)  EUR 100    103,538 
BCP V Modular Services Finance II PLC, 4.75%, 11/30/28 (Call 11/30/24)(a)  EUR 200    200,241 
Bellis Acquisition Co. PLC           
3.25%, 02/16/26 (Call 03/01/24)(a)  GBP 300    359,006 
4.50%, 02/16/26 (Call 02/24/25)(a)  GBP 100    121,085 
Bellis Finco PLC, 4.00%, 02/16/27 (Call 03/01/24)(a)  GBP 100    115,593 
British Telecommunications PLC 1.87%, 08/18/80 (Call 05/18/25)(a)(b)  EUR 100    103,208 
8.38%, 12/20/83(a)(b)  GBP 125    169,178 
Canary Wharf Group Investment Holdings PLC           
2.63%, 04/23/25 (Call 03/23/25)(a)  GBP 100    117,536 
3.38%, 04/23/28 (Call 01/23/28)(a)  GBP 100    92,017 
Deuce Finco PLC, 5.50%, 06/15/27 (Call 03/01/24)(a)  GBP 100    119,127 
Heathrow Finance PLC, 3.88%, 03/01/27(a)(g)  GBP 100    119,298 
Iceland Bondco PLC, 4.38%, 05/15/28 (Call 02/15/24)(a)  GBP 100    109,857 
INEOS Quattro Finance 2 PLC           
2.50%, 01/15/26 (Call 02/12/24)(a)  EUR 100    104,148 
8.50%, 03/15/29 (Call 11/15/25)(a)  EUR 100    114,323 
INEOS Styrolution Ludwigshafen GmbH, 2.25%, 01/16/27 (Call 02/12/24)(a)  EUR 100    100,084 
International Consolidated Airlines Group SA           
2.75%, 03/25/25 (Call 12/25/24)(a)  EUR 100    106,048 
3.75%, 03/25/29 (Call 12/25/28)(a)  EUR 100    104,464 
Jaguar Land Rover Automotive PLC           
4.50%, 01/15/26 (Call 10/15/25)(a)  EUR 150    161,784 
4.50%, 07/15/28 (Call 07/15/24)(a)  EUR 100    106,307 
Jerrold Finco PLC, 4.88%, 01/15/26 (Call 03/01/24)(a)  GBP 100    122,900 
Market Bidco Finco PLC, 5.50%, 11/04/27 (Call 11/04/24)(a)  GBP 200    232,247 
Miller Homes Group Finco PLC, 7.00%, 05/15/29 (Call 05/15/25)(a)  GBP 100    113,019 
Motion Finco Sarl, 7.38%, 06/15/30 (Call 06/15/26)(a)  EUR 125    139,376 
NGG Finance PLC           
2.13%, 09/05/82 (Call 06/05/27)(a)(b)  EUR 100    98,748 
5.63%, 06/18/73 (Call 06/18/25)(a)(b)  GBP 200    249,723 
Pinewood Finance Co. Ltd., 3.63%, 11/15/27 (Call 03/01/24)(a)  GBP 175    204,386 

 

4

 

 

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

 

Security  Par
(000)		   Value 
         
United Kingdom (continued)           
Pinnacle Bidco PLC           
8.25%, 10/11/28(a)  EUR 100   $112,816 
10.00%, 10/11/28 (Call 10/11/25)(a)  GBP 100    133,116 
Rolls-Royce PLC           
1.63%, 05/09/28 (Call 02/09/28)(a)  EUR 100    97,936 
3.38%, 06/18/26  GBP 100    120,246 
4.63%, 02/16/26 (Call 11/16/25)(a)  EUR 100    108,713 
5.75%, 10/15/27 (Call 07/15/27)(a)  GBP 100    127,058 
Sherwood Financing PLC, 4.50%, 11/15/26 (Call 03/01/24)(a)  EUR 100    102,644 
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 07/31/25 (Call 03/01/24)(a)  GBP 200    244,837 
Thames Water Utilities Finance PLC, 2.88%, 05/03/27(a)  GBP 100    94,520 
Virgin Media Finance PLC, 3.75%, 07/15/30 (Call 07/15/25)(a)  EUR 100    98,634 
Virgin Media Secured Finance PLC           
4.13%, 08/15/30 (Call 08/15/25)(a)  GBP 100    108,234 
5.00%, 04/15/27 (Call 02/12/24)(a)  GBP 100    123,319 
Virgin Media Vendor Financing Notes III DAC, 4.88%, 07/15/28 (Call 03/01/24)(a)  GBP 100    115,447 
Vmed O2 UK Financing I PLC           
3.25%, 01/31/31 (Call 01/31/26)(a)  EUR 100    98,123 
4.00%, 01/31/29 (Call 02/12/24)(a)  GBP 100    112,667 
4.50%, 07/15/31 (Call 07/15/26)(a)  GBP 200    218,010 
Vodafone Group PLC           
2.63%, 08/27/80 (Call 05/27/26)(a)(b)  EUR 100    102,952 
3.00%, 08/27/80 (Call 05/27/30)(a)(b)  EUR 150    145,139 
4.20%, 10/03/78 (Call 07/03/28)(a)(b)  EUR 100    105,512 
6.50%, 08/30/84 (Call 05/30/29)(a)(b)  EUR 100    115,412 
8.00%, 08/30/86 (Call 05/30/31)(a)(b)  GBP 100    136,379 
          6,308,955 
United States — 12.1%           
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 3.63%, 06/01/28 (Call 06/01/24)(a)  EUR 100    98,407 
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 3.00%, 09/01/29 (Call 05/15/24)(a)  EUR 100    84,597 
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.           
2.13%, 08/15/26 (Call 03/04/24)(a)  EUR 100    97,068 
4.75%, 07/15/27 (Call 02/12/24)(a)  GBP 100    93,813 
Ashland Services BV, 2.00%, 01/30/28 (Call 11/01/27)(a)  EUR 100    99,123 
Avantor Funding Inc., 2.63%, 11/01/25 (Call 02/12/24)(a)  EUR 100    105,545 
Avis Budget Finance PLC, 7.25%, 07/31/30 (Call 07/31/26)(a)  EUR 100    112,873 
Ball Corp., 1.50%, 03/15/27 (Call 12/15/26)  EUR 100    100,631 
Belden Inc., 3.88%, 03/15/28 (Call 03/01/24)(a)  EUR 150    157,141 
Boxer Parent Co. Inc., 6.50%, 10/02/25 (Call 03/01/24)(a)  EUR 100    108,050 
Brookfield Property Finance ULC           
3.93%, 08/24/25 (Call 07/24/25)  CAD 75    52,889 
4.00%, 09/30/26 (Call 08/30/26)  CAD 75    51,309 
7.13%, 02/13/28 (Call 01/13/28)  CAD 125    91,841 
Carnival PLC, 1.00%, 10/28/29 (Call 07/28/29)  EUR 100    81,783 
Catalent Pharma Solutions Inc., 2.38%, 03/01/28 (Call 03/01/24)(a)  EUR 150    143,686 
Chemours Co. (The), 4.00%, 05/15/26 (Call 03/01/24)  EUR 100    105,282 
Clarios Global LP/Clarios U.S. Finance Co., 4.38%, 05/15/26 (Call 03/04/24)(a)  EUR 100    106,926 
Security  Par
(000)		   Value 
         
United States (continued)           
Constellium SE, 3.13%, 07/15/29 (Call 07/15/24)(a)  EUR 100   $99,315 
Coty Inc.           
3.88%, 04/15/26 (Call 02/12/24)(a)  EUR 100    107,146 
5.75%, 09/15/28(a)  EUR 100    112,286 
Crown European Holdings SA           
3.38%, 05/15/25 (Call 11/15/24)(a)  EUR 100    106,777 
4.75%, 03/15/29 (Call 12/15/28)(a)  EUR 100    109,488 
5.00%, 05/15/28 (Call 04/15/28)(a)  EUR 100    111,050 
Dana Financing Luxembourg Sarl, 8.50%, 07/15/31 (Call 07/15/26)(a)  EUR 100    117,831 
Darling Global Finance BV, 3.63%, 05/15/26 (Call 02/12/24)(a)  EUR 100    107,248 
Emerald Debt Merger Sub LLC, 6.38%, 12/15/30 (Call 06/15/26)(a)  EUR 100    113,505 
Encore Capital Group Inc.           
4.88%, 10/15/25 (Call 02/12/24)(a)  EUR 100    107,607 
5.38%, 02/15/26 (Call 02/12/24)(a)  GBP 100    122,381 
Energizer Gamma Acquisition BV, 3.50%, 06/30/29 (Call 06/30/24)(a)  EUR 100    95,459 
Ford Credit Canada Co., 7.00%, 02/10/26  CAD 75    57,118 
Goodyear Europe BV, 2.75%, 08/15/28 (Call 08/15/24)(a)  EUR 100    95,696 
International Game Technology PLC, 3.50%, 06/15/26 (Call 03/01/24)(a)  EUR 150    159,643 
IQVIA Inc.           
1.75%, 03/15/26 (Call 03/01/24)(a)  EUR 100    102,792 
2.25%, 01/15/28 (Call 02/12/24)(a)  EUR 150    151,158 
2.25%, 03/15/29 (Call 03/15/24)(a)  EUR 200    196,095 
2.88%, 09/15/25 (Call 02/12/24)(a)  EUR 100    106,010 
Iron Mountain UK PLC, 3.88%, 11/15/25 (Call 02/12/24)(a)  GBP 100    122,787 
Levi Strauss & Co., 3.38%, 03/15/27 (Call 02/12/24)  EUR 100    105,641 
MPT Operating Partnership LP/MPT Finance Corp.           
2.50%, 03/24/26 (Call 02/22/26)  GBP 100    101,304 
3.33%, 03/24/25 (Call 12/24/24)  EUR 100    96,415 
3.69%, 06/05/28 (Call 04/06/28)  GBP 100    84,719 
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29 (Call 04/15/24)(a)  EUR 100    100,530 
OI European Group BV           
2.88%, 02/15/25 (Call 03/01/24)(a)  EUR 100    106,236 
6.25%, 05/15/28 (Call 05/15/25)(a)  EUR 100    112,377 
Olympus Water U.S. Holding Corp.           
3.88%, 10/01/28 (Call 10/01/24)(a)  EUR 100    100,293 
9.63%, 11/15/28 (Call 06/01/25)(a)  EUR 100    116,600 
Organon & Co./Organon Foreign Debt Co.-Issuer BV, 2.88%, 04/30/28 (Call 04/30/24)(a)  EUR 200    200,677 
SCIL IV LLC/SCIL USA Holdings LLC, 9.50%, 07/15/28 (Call 07/15/25)(a)  EUR 100    116,608 
Silgan Holdings Inc.           
2.25%, 06/01/28 (Call 02/15/24)  EUR 100    98,062 
3.25%, 03/15/25 (Call 03/01/24)  EUR 100    106,877 
Spectrum Brands Inc., 4.00%, 10/01/26 (Call 03/01/24)(a)  EUR 100    106,550 
Standard Industries Inc./NJ, 2.25%, 11/21/26 (Call 08/21/26)(a)  EUR 100    101,261 
Walgreens Boots Alliance Inc., 2.13%, 11/20/26 (Call 08/20/26)  EUR 125    126,373 

 

5

 

 

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

 

Security  Par
(000)		   Value 
         
United States (continued)          
WMG Acquisition Corp., 2.25%, 08/15/31 (Call 08/15/26)(a)  EUR100   $92,977 
         5,865,856 
           
Total Corporate Bonds & Notes — 97.8%          
(Cost: $49,342,804)       47,270,770 

 

    Shares      
           
Common Stocks          
           
Supranational — 0.0%          
Sentry Holdings Ltd.   25    — 
           
Total Common Stocks — 0.0%          
(Cost: $159,437)        — 
Total Long-Term Investments — 97.8%          
(Cost: $49,502,241)        47,270,770 
         
Short-Term Securities          
           
Money Market Funds — 0.0%          
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.32%(h)(i)   10,000    10,000 
           
Total Short-Term Securities — 0.0%          
(Cost: $10,000)        10,000 
           
Total Investments — 97.8%          
(Cost: $49,512,241)        47,280,770 
Other Assets Less Liabilities — 2.2%        1,051,231 
           
Net Assets — 100.0%       $48,332,001 
(a)This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

(b)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.

(c)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.

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

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

(f)Non-income producing security.

(g)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.

(h)Affiliate of the Fund.

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

 

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: Treasury, SL Agency Shares  $10,000   $0(a)  $—   $—   $—   $10,000    10,000   $590   $— 

 

(a)Represents net amount purchased (sold).

 

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

 

 

6

 

 

Schedule of Investments (unaudited) (continued) iShares® International High Yield Bond ETF
January 31, 2024  

 

Fair Value Hierarchy as of Period End (continued)

 

●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                    
Corporate Bonds & Notes  $—   $47,270,770   $—   $47,270,770 
Common Stocks   —    —    —    — 
Short-Term Securities                    
Money Market Funds   10,000    —    —    10,000 
   $10,000   $47,270,770   $—   $47,280,770 

 

Portfolio Abbreviation
 
CAB Capital Appreciation Bonds
EURIBOR Euro Interbank Offered Rate
   
Currency Abbreviation
 
CAD Canadian Dollar
EUR Euro
GBP British Pound

 

7