NPORT-EX 2 NPORT_2QS1_39207385_0522.htm

 

Schedule of Investments (unaudited) iShares® MSCI Kuwait ETF
May 31, 2022 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Air Freight & Logistics — 4.5%          
Agility Public Warehousing Co. KSC   253,771   $950,570 
           
Airlines — 1.7%          
Jazeera Airways Co. KSCP   54,272    350,056 
           
Banks — 58.5%          
Ahli United Bank BSC   1,008,862    899,610 
Ahli United Bank KSCP   28,646    27,566 
Al Ahli Bank of Kuwait KSCP   221,831    239,564 
Boubyan Bank KSCP   9,990    26,492 
Burgan Bank SAK   493,392    444,235 
Gulf Bank KSCP   603,079    614,373 
Kuwait Finance House KSCP   1,429,913    4,193,213 
Kuwait International Bank KSCP   425,176    312,099 
Kuwait Projects Co. Holding KSCP   610,878    351,654 
National Bank of Kuwait SAKP   1,397,539    4,730,962 
Warba Bank KSCP(a)   500,461    437,426 
         12,277,194 
Capital Markets — 1.0%          
Noor Financial Investment Co. KSC   275,253    210,233 
           
Chemicals — 3.6%          
Boubyan Petrochemicals Co. KSCP   130,175    467,458 
Qurain Petrochemical Industries Co.   230,690    280,127 
         747,585 
Construction & Engineering — 0.5%          
Combined Group Contracting Co. SAK   84,443    108,787 
           
Diversified Consumer Services — 1.9%          
Humansoft Holding Co. KSC   40,361    408,834 
           
Diversified Financial Services — 5.7%          
A'ayan Leasing & Investment Co. KSCP   474,767    258,395 
Alimtiaz Investment Group KSC   678,851    229,732 
Boursa Kuwait Securities Co. KPSC   51,673    431,377 
National Investments Co. KSCP   237,303    278,331 
         1,197,835 
Electric Utilities — 1.2%          
Shamal Az-Zour Al-Oula for the First Phase of Az-Zour Power Plant KSC   347,283    243,847 
           
Electrical Equipment — 1.7%          
Gulf Cable & Electrical Industries Co. KSCP   65,575    347,727 

 

Security  Shares   Value 
         
Energy Equipment & Services — 1.2%          
Heavy Engineering & Ship Building Co. KSCP   109,474   $261,680 
           
Food Products — 1.0%          
Mezzan Holding Co. KSCC   114,247    199,724 
           
Industrial Conglomerates — 3.1%          
National Industries Group Holding SAK(a)   653,716    646,180 
           
Real Estate Management & Development — 7.4%          
Commercial Real Estate Co. Ksc   558,656    204,342 
Kuwait Real Estate Co. KSC   562,772    286,602 
Mabanee Co. KPSC   248,913    680,943 
National Real Estate Co. KPSC(a)   493,969    377,260 
         1,549,147 
Trading Companies & Distributors — 2.0%          
ALAFCO Aviation Lease & Finance Co. KSCP(a)   253,467    177,073 
Integrated Holding Co. KCSC   165,788    245,962 
         423,035 
Wireless Telecommunication Services — 4.4%          
Mobile Telecommunications Co. KSCP   446,668    918,599 
           
Total Common Stocks — 99.4%          
(Cost: $14,663,105)       20,841,033 
           
Short-Term Securities          
           
Money Market Funds — 0.1%          
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.72%(b)(c)   20,000    20,000 
           
Total Short-Term Securities — 0.1%          
(Cost: $20,000)        20,000 
           
Total Investments in Securities — 99.5%          
(Cost: $14,683,105)        20,861,033 
           
Other Assets Less Liabilities — 0.5%        113,996 
           
Net Assets — 100.0%       $20,975,029 

 

(a)Non-income producing security.

(b)Affiliate of the Fund.

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


Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer  Value at
08/31/21		   Purchases
at Cost		   Proceeds
from Sale		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
05/31/22		   Shares
Held at
05/31/22		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Treasury, SL Agency Shares  $10,000   $10,000(a)  $—   $—   $—   $20,000    20,000   $49   $— 

 

(a)Represents net amount purchased (sold).

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Schedule of Investments (unaudited) (continued) iShares® MSCI Kuwait ETF
May 31, 2022  

 

Fair Value Measurements

 

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 BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global 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 
Investments                
Assets                
Common Stocks  $824,737   $20,016,296   $—   $20,841,033 
Money Market Funds   20,000    —    —    20,000 
   $844,737   $20,016,296   $—   $20,861,033 

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