NPORT-EX 2 NPORT_0BI1_49472508_0524.htm

 

Schedule of Investments (unaudited) iShares® MSCI Hong Kong ETF
May 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Banks — 7.3%          
BOC Hong Kong Holdings Ltd.   6,385,500   $20,072,155 
Hang Seng Bank Ltd.   1,332,300    18,563,455 
         38,635,610 
Capital Markets — 14.1%          
Futu Holdings Ltd., ADR(a)   114,134    8,576,029 
Hong Kong Exchanges & Clearing Ltd.   1,936,426    65,501,819 
         74,077,848 
Diversified Telecommunication Services — 1.6%          
HKT Trust & HKT Ltd., Class SS   7,115,500    8,292,390 
           
Electric Utilities — 8.1%          
CK Infrastructure Holdings Ltd.   1,243,000    7,189,553 
CLP Holdings Ltd.   2,806,200    22,235,095 
Power Assets Holdings Ltd.   2,434,500    13,517,165 
         42,941,813 
Food Products — 2.0%          
WH Group Ltd.(b)   15,569,500    10,609,924 
           
Gas Utilities — 2.9%          
Hong Kong & China Gas Co. Ltd.   19,512,495    15,181,477 
           
Ground Transportation — 1.8%          
MTR Corp. Ltd.(c)   2,835,583    9,635,533 
           
Hotels, Restaurants & Leisure — 5.4%          
Galaxy Entertainment Group Ltd.   3,774,000    18,183,874 
Sands China Ltd.(a)   4,337,200    10,394,833 
         28,578,707 
Industrial Conglomerates — 6.2%          
CK Hutchison Holdings Ltd.   4,575,267    22,341,412 
Jardine Matheson Holdings Ltd.   283,200    10,437,174 
         32,778,586 
Insurance — 22.9%          
AIA Group Ltd.   15,519,200    120,540,665 
           
Machinery — 4.4%          
Techtronic Industries Co. Ltd.   1,895,647    23,319,780 
           
Marine Transportation — 1.4%          
SITC International Holdings Co. Ltd.   2,896,000    7,429,060 
Security  Shares   Value 
         
Real Estate Management & Development — 16.7%          
CK Asset Holdings Ltd.   3,390,267   $13,428,287 
ESR Group Ltd.(b)   28,848    40,696 
Henderson Land Development Co. Ltd.   2,742,762    8,581,998 
Hongkong Land Holdings Ltd.   2,113,400    7,184,241 
Sino Land Co. Ltd.   7,240,000    7,705,106 
Sun Hung Kai Properties Ltd.   2,440,000    23,576,520 
Swire Pacific Ltd., Class A   867,500    7,551,287 
Swire Properties Ltd.   2,461,600    4,527,573 
Wharf Holdings Ltd. (The)   2,140,570    6,376,355 
Wharf Real Estate Investment Co. Ltd.   3,025,150    8,802,011 
         87,774,074 
Retail REITs — 3.5%          
Link REIT   4,393,200    18,523,545 
           
Total Long-Term Investments — 98.3%          
(Cost: $720,273,697)        518,319,012 
         
Short-Term Securities          
           
Money Market Funds — 0.7%          
BlackRock Cash Funds: Institutional, SL Agency          
Shares, 5.49%(d)(e)(f)   3,534,021    3,535,082 
BlackRock Cash Funds: Treasury, SL Agency Shares,          
5.28%(d)(e)   250,000    250,000 
           
Total Short-Term Securities — 0.7%          
(Cost: $3,785,082)        3,785,082 
           
Total Investments — 99.0%          
(Cost: $724,058,779)        522,104,094 
           
Other Assets Less Liabilities — 1.0%        5,215,478 
           
Net Assets — 100.0%       $527,319,572 

 

(a)Non-income producing security.
(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)Affiliate of the Fund.
(e)Annualized 7-day yield as of period end.
(f)All or a portion of this security was purchased with the cash collateral from loaned securities.

 

Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 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
08/31/23		   Purchases
at Cost		   Proceeds
from Sales		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
05/31/24		   Shares
Held at
05/31/24		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Institutional, SL Agency Shares  $7,695,583   $—   $(4,157,256)(a)  $(3,245)  $—   $3,535,082    3,534,021   $29,759(b)   $— 
BlackRock Cash Funds: Treasury, SL Agency Shares   690,000    —    (440,000)(a)   —    —    250,000    250,000    38,883    — 
                  $(3,245)  $—   $3,785,082        $68,642   $— 

 

(a)Represents net amount purchased (sold).

(b)All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

 

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Schedule of Investments (unaudited) (continued) iShares® MSCI Hong Kong ETF
May 31, 2024  

 

Derivative Financial Instruments Outstanding as of Period End

 

Futures Contracts

 

Description  Number of
Contracts		   Expiration
Date		  Notional
Amount
(000)		   Value/
Unrealized
Appreciation
(Depreciation)		 
Long Contracts                  
MSCI Hong Kong Index   123   06/21/24  $6,647   $(67,498)

 

OTC Total Return Swaps

 

Reference Entity  Payment
Frequency		  Counterparty(a)  Termination
Date		  Net Notional   Accrued
Unrealized
Appreciation
(Depreciation)		   Net Value of
Reference
Entity		   Gross
Notional
Amount
Net Asset
Percentage		 
Equity Securities Long  Monthly  HSBC Bank PLC(b)  02/08/28  $2,247,660   $11,275(c)   $2,259,586    0.4%
   Monthly  JPMorgan Chase Bank NA(d)  02/10/25   6,601    95(e)    6,768    0.0 
                 $11,370   $2,266,354      

 

(a)The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions.
(c)Amount includes $(651) of net dividends, payable for referenced securities purchased and financing fees.
(e)Amount includes $(72) of net dividends, payable for referenced securities purchased and financing fees.
The following are the specified benchmarks (plus or minus a range) used in determining the variable rate of interest:
  (b) (d)
Range: 0 basis points 55 basis points
Benchmarks: HKD - Overnight Index Average (HONIA) HKD - Overnight Index Average (HONIA)

 

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Schedule of Investments (unaudited) (continued) iShares® MSCI Hong Kong ETF
May 31, 2024  

 

The following table represents the individual long positions and related values of equity securities underlying the total return swap with HSBC Bank PLC as of period end, termination date February 08, 2028.

 

   Shares   Value   % of
Basket
Value		 
             
Reference Entity — Long               
                
Common Stocks               
Capital Markets               
Hong Kong Exchanges & Clearing Ltd.   66,800   $2,259,586    100.0%
                
Net Value of Reference Entity — HSBC Bank PLC   $2,259,586      

The following table represents the individual long positions and related values of equity securities underlying the total return swap with JPMorgan Chase Bank NA as of period end, termination date February 10, 2025.

 

   Shares   Value   % of
Basket
Value		 
             
Reference Entity — Long               
                
Common Stocks               
Capital Markets               
Hong Kong Exchanges & Clearing Ltd.   200   $6,768    100.0%
                
Net Value of Reference Entity — JPMorgan Chase Bank NA   $6,768      

 

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  $8,576,029   $509,742,983   $—   $518,319,012 
Short-Term Securities                    
Money Market Funds   3,785,082    —    —    3,785,082 
   $12,361,111   $509,742,983   $—   $522,104,094 
Derivative Financial Instruments(a)                    
Assets                    
Equity Contracts  $—   $11,370   $—   $11,370 
Liabilities                    
Equity Contracts   —    (67,498)   —    (67,498)
   $—   $(56,128)  $—   $(56,128)

 

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

 

Portfolio Abbreviation

 

ADR American Depositary Receipt
REIT Real Estate Investment Trust

 

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