NPORT-EX 2 NPORT_0BHV_31613350_0524.htm

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

 

Security  Shares   Value 
         
Common Stocks          
           
Air Freight & Logistics — 0.5%          
bpost SA   22,293   $80,912 
           
Banks — 10.6%          
KBC Ancora   3,933    198,074 
KBC Group NV   22,256    1,625,370 
         1,823,444 
Beverages — 21.3%          
Anheuser-Busch InBev SA/NV   57,880    3,651,739 
           
Biotechnology — 12.2%          
Argenx SE(a)   5,240    1,938,001 
Galapagos NV(a)   5,648    157,914 
         2,095,915 
Building Products — 0.6%          
Recticel SA   6,904    103,719 
           
Chemicals — 8.6%          
Solvay SA   7,675    281,640 
Syensqo SA   6,775    678,064 
Tessenderlo Group SA   4,009    111,086 
Umicore SA   20,231    400,700 
         1,471,490 
Construction & Engineering — 3.3%          
Ackermans & van Haaren NV   2,262    401,263 
Deme Group NV   915    162,695 
         563,958 
Consumer Staples Distribution & Retail — 1.8%          
Colruyt Group NV   6,134    313,722 
           
Distributors — 3.0%          
D'ieteren Group   2,319    506,402 
           
Diversified Telecommunication Services — 0.8%          
Proximus SADP   17,732    139,795 
           
Electric Utilities — 1.9%          
Elia Group SA/NV   3,149    320,737 
           
Electronic Equipment, Instruments & Components — 0.8%          
Barco NV   9,442    132,564 
           
Entertainment — 0.6%          
Kinepolis Group NV   2,332    94,823 
           
Financial Services — 6.2%          
Groupe Bruxelles Lambert NV   8,991    689,491 
Sofina SA   1,516    368,899 
         1,058,390 
Security  Shares   Value 
         
Food Products — 2.4%          
Lotus Bakeries NV   39   $413,859 
           
Health Care Providers & Services — 1.0%          
Fagron   8,035    165,036 
           
Health Care REITs — 3.3%          
Aedifica SA   4,809    312,770 
Cofinimmo SA   3,877    256,769 
         569,539 
Industrial REITs — 3.9%          
Montea NV   1,904    173,659 
Warehouses De Pauw CVA   16,608    486,772 
         660,431 
Insurance — 4.3%          
Ageas SA/NV   14,871    741,880 
           
Metals & Mining — 1.1%          
Bekaert SA   4,071    191,858 
           
Personal Care Products — 0.6%          
Ontex Group NV(a)   10,519    103,953 
           
Pharmaceuticals — 4.5%          
UCB SA   5,518    774,013 
           
Real Estate Management & Development — 1.1%          
VGP NV   1,569    181,210 
           
Residential REITs — 0.8%          
Xior Student Housing NV   4,282    133,309 
Retail REITs — 0.7%          
Retail Estates NV   1,625    115,353 
           
Semiconductors & Semiconductor Equipment — 1.2%          
Melexis NV   2,278    206,834 
           
Specialized REITs — 1.0%          
Shurgard Self Storage Ltd.   4,013    177,277 
           
Total Investments — 98.1%          
(Cost: $21,892,660)        16,792,162 
           
Other Assets Less Liabilities — 1.9%        326,420 
           
Net Assets — 100.0%       $17,118,582 

 

(a)Non-income producing security.



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

  

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(a)  $137,291   $   —   $(137,059)(b)  $(234)  $2   $—    —   $205(c)   $— 
BlackRock Cash Funds: Treasury, SL Agency Shares(a)   10,000    —    (10,000)(b)   —    —    —    —    71    — 
                  $(234)  $2   $—        $276   $— 

  

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

(b)Represents net amount purchased (sold).

(c)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.

 

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                  
Euro STOXX 50 Index   6   06/21/24  $327   $2,737 

 

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  $494,771   $16,297,391   $—   $16,792,162 

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

 

Fair Value Hierarchy as of Period End (continued)

 

   Level 1   Level 2   Level 3   Total 
Derivative Financial Instruments(a)                    
Assets                    
Equity Contracts  $—   $2,737   $—   $2,737 

 

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

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