UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT
OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-09729
iShares Trust
(Exact name of registrant as specified in charter)
c/o BlackRock Fund Advisors
400 Howard Street, San Francisco, CA 94105
(Address of principal executive offices) (Zip code)
The Corporation Trust Company
1209 Orange Street, Wilmington, DE 19801
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 670-2000
Date of fiscal year end: March 31, 2024
Date of reporting period: March 31, 2024
Item 1. Reports to Stockholders.
(a) The Report to Shareholders is attached herewith.
2024 Annual Report |
iShares Trust |
• iShares Copper and Metals Mining ETF | ICOP | NASDAQ |
• iShares Environmental Infrastructure and Industrials ETF | EFRA | NASDAQ |
• iShares Global 100 ETF | IOO | NYSE Arca |
• iShares Global Infrastructure ETF | IGF | NASDAQ |
• iShares Global Timber & Forestry ETF | WOOD | NASDAQ |
• iShares Lithium Miners and Producers ETF | ILIT | NASDAQ |
President, BlackRock Inc.
Total Returns as of March 31, 2024 | ||
6-Month | 12-Month | |
U.S. large cap equities (S&P 500® Index) | 23.48% | 29.88% |
U.S. small cap equities (Russell 2000® Index) | 19.94 | 19.71 |
International equities (MSCI Europe, Australasia, Far East Index) | 16.81 | 15.32 |
Emerging market equities (MSCI Emerging Markets Index) | 10.42 | 8.15 |
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index) | 2.68 | 5.24 |
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) | 4.88 | (2.44) |
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index) | 5.99 | 1.70 |
Tax-exempt municipal bonds (Bloomberg Municipal Bond Index) | 7.48 | 3.13 |
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index) | 8.73 | 11.15 |
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
Cumulative Total Returns | ||
Since Inception | ||
Fund NAV | 15.33 % | |
Fund Market | 16.13 | |
Index | 15.92 |
(SINCE INCEPTION AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,210.50 | $2.60 | $1,000.00 | $1,022.70 | $2.38 | 0.47% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Copper | 48.7 % |
Diversified Metals & Mining | 44.4 |
Gold | 3.6 |
Steel | 3.3 |
Security | Percent of Total Investments(a) |
Grupo Mexico SAB de CV, Series B | 8.7 % |
Freeport-McMoRan Inc. | 8.6 |
Southern Copper Corp. | 7.4 |
BHP Group Ltd. | 7.3 |
Antofagasta PLC | 6.5 |
Ivanhoe Mines Ltd., Class A | 6.4 |
Lundin Mining Corp. | 4.9 |
First Quantum Minerals Ltd. | 4.6 |
KGHM Polska Miedz SA | 4.2 |
Capstone Copper Corp. | 4.1 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||
1 Year | Since Inception | 1 Year | Since Inception | ||
Fund NAV | 13.60 % | 16.89 % | 13.60 % | 24.69 % | |
Fund Market | 13.84 | 17.17 | 13.84 | 25.12 | |
Index | 14.05 | 17.21 | 14.05 | 25.18 |
(SINCE INCEPTION AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,195.90 | $2.58 | $1,000.00 | $1,022.70 | $2.38 | 0.47% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Industrials | 56.5 % |
Utilities | 27.2 |
Materials | 10.5 |
Information Technology | 5.8 |
Security | Percent of Total Investments(a) |
American Water Works Co. Inc. | 6.1 % |
Westinghouse Air Brake Technologies Corp. | 6.0 |
Xylem Inc./NY | 6.0 |
Veolia Environnement SA | 6.0 |
Pentair PLC | 5.5 |
Smurfit Kappa Group PLC | 4.7 |
Advanced Drainage Systems Inc. | 4.6 |
Clean Harbors Inc. | 4.0 |
Intertek Group PLC | 4.0 |
Tetra Tech Inc. | 3.9 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 29.61 % | 15.49 % | 11.18 % | 29.61 % | 105.42 % | 188.69 % | |
Fund Market | 29.66 | 15.51 | 11.17 | 29.66 | 105.60 | 188.35 | |
Index | 29.56 | 15.43 | 11.08 | 29.56 | 104.95 | 185.95 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,227.70 | $2.23 | $1,000.00 | $1,023.00 | $2.02 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Information Technology | 40.1 % |
Consumer Discretionary | 11.3 |
Health Care | 11.2 |
Financials | 9.8 |
Consumer Staples | 8.0 |
Communication Services | 7.9 |
Energy | 4.8 |
Industrials | 4.7 |
Materials | 1.3 |
Other (each representing less than 1%) | 0.9 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 77.7 % |
United Kingdom | 4.8 |
Switzerland | 3.5 |
France | 3.4 |
Japan | 2.9 |
Germany | 2.5 |
Netherlands | 1.8 |
South Korea | 1.2 |
China | 0.9 |
Spain | 0.7 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 3.50 % | 4.18 % | 4.44 % | 3.50 % | 22.75 % | 54.41 % | |
Fund Market | 3.26 | 4.11 | 4.37 | 3.26 | 22.31 | 53.45 | |
Index | 3.13 | 3.97 | 4.24 | 3.13 | 21.49 | 51.54 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,123.30 | $2.12 | $1,000.00 | $1,023.00 | $2.02 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Electric Utilities | 26.3 % |
Airport Services | 24.5 |
Oil & Gas Storage & Transportation | 19.8 |
Highways & Railtracks | 11.8 |
Multi-Utilities | 11.7 |
Marine Ports & Services | 3.8 |
Water Utilities | 1.2 |
Other (each representing less than 1%) | 0.9 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 40.4 % |
Australia | 8.9 |
Canada | 8.2 |
Spain | 7.9 |
Mexico | 7.1 |
France | 6.6 |
China | 4.4 |
New Zealand | 3.1 |
Italy | 2.6 |
Germany | 2.2 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 20.06 %(a) | 7.59 % | 6.91 % | 20.06 %(a) | 44.17 % | 95.15 % | |
Fund Market | 20.08 | 7.55 | 6.88 | 20.08 | 43.93 | 94.55 | |
Index | 20.12 | 7.39 | 6.73 | 20.12 | 42.81 | 91.87 |
(a) | The NAV total return presented in the table for the one-year period differs from the same period return disclosed in the financial highlights. The total return in the financial highlights is calculated in the same manner but differs due to certain adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles. |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,144.20 | $2.20 | $1,000.00 | $1,023.00 | $2.07 | 0.41% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Paper Products | 38.0 % |
Paper & Plastic Packaging Products & Materials | 23.1 |
Timber REITs | 16.7 |
Forest Products | 16.3 |
Homebuilding | 4.2 |
Oil & Gas Refining & Marketing | 1.7 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 30.5 % |
Sweden | 12.6 |
Brazil | 12.2 |
Finland | 8.7 |
Japan | 8.5 |
Canada | 8.4 |
Ireland | 6.5 |
Chile | 3.2 |
United Kingdom | 3.2 |
Taiwan | 1.7 |
(a) | Excludes money market funds. |
Cumulative Total Returns | ||
Since Inception | ||
Fund NAV | (45.19 )% | |
Fund Market | (44.88 ) | |
Index | (45.78 ) |
(SINCE INCEPTION AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $744.70 | $2.05 | $1,000.00 | $1,022.70 | $2.38 | 0.47% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Diversified Metals & Mining | 33.8 % |
Specialty Chemicals | 29.9 |
Electrical Components & Equipment | 19.2 |
Commodity Chemicals | 9.5 |
Technology Hardware, Storage & Peripherals | 7.6 |
Security | Percent of Total Investments(a) |
Albemarle Corp. | 8.9 % |
Sociedad Quimica y Minera de Chile SA | 8.7 |
Pilbara Minerals Ltd. | 7.7 |
CosmoAM&T Co. Ltd. | 7.6 |
Arcadium Lithium PLC | 7.1 |
Lithium Americas Corp. | 5.9 |
SK IE Technology Co. Ltd. | 4.7 |
Liontown Resources Ltd. | 4.1 |
Sigma Lithium Corp. | 4.1 |
Tianqi Lithium Corp., Class A | 3.5 |
(a) | Excludes money market funds. |
Security | Shares | Value |
Common Stocks | ||
Metals & Mining — 99.6% | ||
29Metals Ltd.(a)(b) | 37,427 | $9,155 |
Al Masane Al Kobra Mining Co. | 3,672 | 55,807 |
Anglo American PLC | 7,345 | 181,001 |
Antofagasta PLC | 17,898 | 459,728 |
Baiyin Nonferrous Group Co. Ltd. | 43,000 | 16,468 |
BHP Group Ltd. | 17,646 | 510,215 |
Capstone Copper Corp.(a) | 45,344 | 288,557 |
Chengtun Mining Group Co. Ltd., Class A(a) | 2,000 | 1,158 |
China Nonferrous Mining Corp Ltd. | 112,000 | 93,836 |
CMOC Group Ltd., Class A | 10,100 | 11,379 |
ERO Copper Corp.(a) | 8,453 | 163,001 |
Evolution Mining Ltd. | 17,833 | 41,678 |
Filo Corp., NVS(a) | 10,020 | 174,946 |
First Quantum Minerals Ltd. | 29,775 | 320,050 |
Freeport-McMoRan Inc. | 12,882 | 605,712 |
Glencore PLC | 34,170 | 187,510 |
Grupo Mexico SAB de CV, Series B | 103,248 | 614,759 |
Hudbay Minerals Inc. | 34,051 | 238,310 |
Ivanhoe Mines Ltd., Class A(a)(b) | 37,980 | 453,108 |
Jiangxi Copper Co. Ltd., Class A | 12,000 | 37,227 |
Jinchuan Group International Resources Co. Ltd. | 262,000 | 27,511 |
KGHM Polska Miedz SA | 10,274 | 293,418 |
Lundin Mining Corp. | 33,675 | 344,569 |
MMG Ltd.(a) | 276,000 | 108,554 |
Newmont Corp. | 5,148 | 184,504 |
Nittetsu Mining Co. Ltd. | 1,300 | 41,929 |
Rio Tinto PLC, ADR | 4,009 | 255,534 |
Sandfire Resources Ltd.(a)(b) | 44,601 | 258,332 |
Southern Copper Corp. | 4,854 | 517,048 |
Security | Shares | Value |
Metals & Mining (continued) | ||
Teck Resources Ltd., Class B | 4,266 | $195,262 |
Vale SA | 18,940 | 229,717 |
WA1 Resources Ltd., NVS(a) | 4,376 | 30,977 |
Western Mining Co. Ltd., Class A | 14,200 | 36,285 |
Yunnan Copper Co. Ltd. | 11,600 | 20,773 |
Zijin Mining Group Co. Ltd., Class A | 11,300 | 25,099 |
7,033,117 | ||
Total Long-Term Investments — 99.6% (Cost: $6,304,710) | 7,033,117 | |
Short-Term Securities | ||
Money Market Funds — 8.3% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(c)(d)(e) | 585,378 | 585,612 |
Total Short-Term Securities — 8.3% (Cost: $585,686) | 585,612 | |
Total Investments — 107.9% (Cost: $6,890,396) | 7,618,729 | |
Liabilities in Excess of Other Assets — (7.9)% | (556,004 ) | |
Net Assets — 100.0% | $7,062,725 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(c) | Affiliate of the Fund. |
(d) | Annualized 7-day yield as of period end. |
(e) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 06/21/23(a) | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $— | $585,663 (b) | $— | $23 | $(74 ) | $585,612 | 585,378 | $505 (c) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares(d) | — | — | 0 (b) | — | — | — | — | 105 | — |
$23 | $(74 ) | $585,612 | $610 | $— |
(a) | Commencement of operations. |
(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. |
(d) | As of period end, the entity is no longer held. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
Micro E-Mini Russell 2000 Index | 2 | 06/21/24 | $21 | $694 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $694 | $— | $— | $— | $694 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $(2,844 ) | $— | $— | $— | $(2,844 ) |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $694 | $— | $— | $— | $694 |
Futures contracts: | |
Average notional value of contracts — long | $9,861 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $4,026,125 | $3,006,992 | $— | $7,033,117 |
Short-Term Securities | ||||
Money Market Funds | 585,612 | — | — | 585,612 |
$4,611,737 | $3,006,992 | $— | $7,618,729 |
Level 1 | Level 2 | Level 3 | Total | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $694 | $— | $— | $694 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Building Products — 7.5% | ||
Advanced Drainage Systems Inc. | 1,302 | $224,257 |
China Lesso Group Holdings Ltd. | 18,000 | 8,536 |
Reliance Worldwide Corp. Ltd. | 15,344 | 57,576 |
TOTO Ltd. | 2,800 | 78,498 |
368,867 | ||
Chemicals — 1.7% | ||
Umicore SA | 3,978 | 85,764 |
Commercial Services & Supplies — 10.5% | ||
Befesa SA(a) | 779 | 26,777 |
Clean Harbors Inc.(b) | 978 | 196,881 |
Derichebourg SA | 1,822 | 8,659 |
Stericycle Inc.(b) | 1,790 | 94,423 |
Tetra Tech Inc. | 1,030 | 190,251 |
516,991 | ||
Construction & Engineering — 5.0% | ||
NBCC India Ltd. | 12,291 | 17,632 |
Stantec Inc. | 2,217 | 184,064 |
Sweco AB, Class B | 3,933 | 44,245 |
245,941 | ||
Containers & Packaging — 7.2% | ||
DS Smith PLC | 24,913 | 124,618 |
Smurfit Kappa Group PLC | 5,045 | 230,578 |
355,196 | ||
Electronic Equipment, Instruments & Components — 5.8% | ||
Badger Meter Inc. | 567 | 91,746 |
Landis+Gyr Group AG | 417 | 32,007 |
Riken Keiki Co. Ltd. | 600 | 15,122 |
Shimadzu Corp. | 5,200 | 144,841 |
283,716 | ||
Machinery — 27.2% | ||
Construcciones y Auxiliar de Ferrocarriles SA | 506 | 18,455 |
Dawonsys Co. Ltd.(b) | 576 | 5,830 |
Franklin Electric Co. Inc. | 891 | 95,168 |
Lindsay Corp. | 213 | 25,062 |
METAWATER Co. Ltd. | 400 | 5,889 |
Mueller Water Products Inc., Class A | 2,992 | 48,141 |
NGK Insulators Ltd. | 4,800 | 64,543 |
Organo Corp. | 500 | 24,795 |
Pentair PLC | 3,189 | 272,468 |
TOMRA Systems ASA | 4,554 | 71,283 |
Torishima Pump Manufacturing Co. Ltd. | 400 | 7,463 |
Watts Water Technologies Inc., Class A | 527 | 112,014 |
Westinghouse Air Brake Technologies Corp. | 2,033 | 296,167 |
Xylem Inc./NY | 2,275 | 294,021 |
1,341,299 | ||
Metals & Mining — 1.5% | ||
ARE Holdings Inc. | 1,400 | 17,784 |
Dowa Holdings Co. Ltd. | 900 | 31,102 |
Sims Ltd. | 3,087 | 25,577 |
74,463 |
Security | Shares | Value |
Multi-Utilities — 6.8% | ||
Qatar Electricity & Water Co. QSC | 8,870 | $39,520 |
Veolia Environnement SA | 9,003 | 292,884 |
332,404 | ||
Professional Services — 5.7% | ||
Arcadis NV | 1,405 | 86,042 |
Intertek Group PLC | 3,125 | 196,712 |
282,754 | ||
Water Utilities — 20.4% | ||
Aguas Andinas SA, Class A | 52,803 | 15,413 |
American States Water Co. | 714 | 51,579 |
American Water Works Co. Inc. | 2,435 | 297,581 |
Beijing Enterprises Water Group Ltd. | 80,000 | 17,808 |
California Water Service Group | 1,114 | 51,779 |
China Water Affairs Group Ltd. | 18,000 | 10,556 |
Cia de Saneamento de Minas Gerais Copasa MG | 3,607 | 15,664 |
Cia. de Saneamento Basico do Estado de Sao Paulo SABESP | 6,624 | 111,866 |
Essential Utilities Inc. | 4,848 | 179,618 |
Penno Group PLC | 5,555 | 45,398 |
SJW Group | 615 | 34,803 |
United Utilities Group PLC | 13,280 | 172,556 |
1,004,621 | ||
Total Common Stocks — 99.3% (Cost: $3,962,000) | 4,892,016 | |
Preferred Stocks | ||
Machinery — 0.4% | ||
Marcopolo SA, Preference Shares, NVS | 13,618 | 20,473 |
Total Preferred Stocks — 0.4% (Cost: $14,621) | 20,473 | |
Rights | ||
Machinery — 0.0% | ||
Dawonsys Co. Ltd. (Expires 04/30/24, Strike Price KRW 10,210.00)(b) | 65 | 164 |
Total Rights — 0.0% (Cost: $—) | 164 | |
Total Investments — 99.7% (Cost: $3,976,621) | 4,912,653 | |
Other Assets Less Liabilities — 0.3% | 12,429 | |
Net Assets — 100.0% | $4,925,082 |
(a) | 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. |
(b) | Non-income producing security. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares(a) | $— | $— | $(16 )(b) | $16 | $— | $— | — | $68 (c) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares(a) | — | — | 0 (b) | — | — | — | — | 49 | — |
$16 | $— | $— | $117 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
Micro E-Mini Russell 2000 Index | 1 | 06/21/24 | $11 | $(9 ) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Liabilities—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized depreciation on futures contracts(a) | $— | $— | $9 | $— | $— | $— | $9 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $1,400 | $— | $— | $— | $1,400 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(354 ) | $— | $— | $— | $(354 ) |
Futures contracts: | |
Average notional value of contracts — long | $12,118 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $2,938,920 | $1,953,096 | $— | $4,892,016 |
Preferred Stocks | 20,473 | — | — | 20,473 |
Rights | — | 164 | — | 164 |
$2,959,393 | $1,953,260 | $— | $4,912,653 | |
Derivative Financial Instruments(a) | ||||
Liabilities | ||||
Equity Contracts | $(9 ) | $— | $— | $(9 ) |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 0.6% | ||
BHP Group Ltd. | 1,040,224 | $30,076,982 |
China — 0.9% | ||
Tencent Holdings Ltd. | 1,258,100 | 49,002,910 |
France — 3.4% | ||
AXA SA | 360,483 | 13,538,215 |
Cie. de Saint-Gobain | 103,964 | 8,069,031 |
Engie SA | 360,697 | 6,044,323 |
L'Oreal SA | 47,198 | 22,351,633 |
LVMH Moet Hennessy Louis Vuitton SE | 53,518 | 48,155,284 |
Sanofi SA | 228,477 | 22,227,253 |
Schneider Electric SE | 110,198 | 24,913,166 |
TotalEnergies SE | 460,521 | 31,678,954 |
176,977,859 | ||
Germany — 2.5% | ||
Allianz SE, Registered | 80,408 | 24,099,652 |
BASF SE | 183,217 | 10,469,733 |
Bayer AG, Registered | 200,886 | 6,152,045 |
Deutsche Bank AG, Registered | 419,712 | 6,610,566 |
Deutsche Telekom AG, Registered | 716,534 | 17,393,495 |
E.ON SE | 460,879 | 6,416,318 |
Mercedes-Benz Group AG | 164,711 | 13,117,076 |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered | 28,014 | 13,674,767 |
RWE AG | 139,257 | 4,732,953 |
Siemens AG, Registered | 154,369 | 29,475,041 |
132,141,646 | ||
Japan — 2.8% | ||
Bridgestone Corp. | 120,300 | 5,331,662 |
Canon Inc. | 206,950 | 6,166,087 |
Honda Motor Co. Ltd. | 1,025,900 | 12,694,165 |
Mitsubishi UFJ Financial Group Inc. | 2,532,300 | 25,763,861 |
Panasonic Holdings Corp. | 503,600 | 4,806,238 |
Seven & i Holdings Co. Ltd. | 490,660 | 7,151,801 |
Sony Group Corp. | 258,800 | 22,192,287 |
Toyota Motor Corp. | 2,544,900 | 64,322,227 |
148,428,328 | ||
Netherlands — 1.8% | ||
ASML Holding NV | 82,025 | 79,520,038 |
ING Groep NV | 718,107 | 11,822,395 |
91,342,433 | ||
South Korea — 1.2% | ||
Samsung Electronics Co. Ltd. | 1,053,910 | 64,506,728 |
Spain — 0.7% | ||
Banco Bilbao Vizcaya Argentaria SA | 1,198,413 | 14,271,289 |
Banco Santander SA | 3,248,685 | 15,867,972 |
Telefonica SA | 1,167,830 | 5,157,426 |
35,296,687 | ||
Switzerland — 3.5% | ||
ABB Ltd., Registered | 332,246 | 15,412,992 |
Nestle SA, Registered | 548,099 | 58,235,496 |
Novartis AG, Registered | 425,441 | 41,207,530 |
Roche Holding AG, Bearer | 5,472 | 1,475,604 |
Roche Holding AG, NVS | 144,219 | 36,821,831 |
Swiss Re AG | 59,306 | 7,628,820 |
UBS Group AG, Registered | 624,339 | 19,223,974 |
180,006,247 |
Security | Shares | Value |
United Kingdom — 4.8% | ||
Anglo American PLC | 275,176 | $6,781,112 |
AstraZeneca PLC | 318,219 | 42,750,742 |
Barclays PLC | 2,957,969 | 6,855,523 |
BP PLC | 3,450,266 | 21,644,983 |
Diageo PLC | 456,458 | 16,889,955 |
GSK PLC | 841,253 | 18,062,019 |
HSBC Holdings PLC | 3,922,056 | 30,658,022 |
National Grid PLC | 769,234 | 10,364,657 |
Prudential PLC | 566,415 | 5,312,162 |
Rio Tinto PLC | 229,450 | 14,506,943 |
Shell PLC | 1,330,859 | 44,157,198 |
Unilever PLC | 516,318 | 25,920,094 |
Vodafone Group PLC | 4,683,557 | 4,153,959 |
248,057,369 | ||
United States — 77.4% | ||
3M Co. | 113,457 | 12,034,384 |
Abbott Laboratories | 356,376 | 40,505,696 |
Accenture PLC, Class A | 128,707 | 44,611,133 |
Alphabet Inc., Class A(a) | 1,209,717 | 182,582,587 |
Alphabet Inc., Class C, NVS(a) | 1,012,805 | 154,209,689 |
Amazon.com Inc.(a) | 1,876,448 | 338,473,690 |
American Tower Corp. | 95,694 | 18,908,178 |
Aon PLC, Class A | 41,099 | 13,715,558 |
Apple Inc. | 2,979,723 | 510,962,900 |
Bristol-Myers Squibb Co. | 417,695 | 22,651,600 |
Broadcom Inc. | 90,332 | 119,726,936 |
Caterpillar Inc. | 104,502 | 38,292,668 |
Chevron Corp. | 356,047 | 56,162,854 |
Cisco Systems Inc. | 834,151 | 41,632,476 |
Citigroup Inc. | 390,669 | 24,705,908 |
Coca-Cola Co. (The) | 798,762 | 48,868,259 |
Colgate-Palmolive Co. | 169,018 | 15,220,071 |
DuPont de Nemours Inc. | 87,936 | 6,742,053 |
Eli Lilly & Co. | 163,693 | 127,346,606 |
Emerson Electric Co. | 117,356 | 13,310,518 |
Exxon Mobil Corp. | 815,169 | 94,755,245 |
Ford Motor Co. | 801,165 | 10,639,471 |
General Electric Co. | 223,411 | 39,215,333 |
Goldman Sachs Group Inc. (The) | 66,942 | 27,961,004 |
Honeywell International Inc. | 135,331 | 27,776,688 |
HP Inc. | 179,001 | 5,409,410 |
Intel Corp. | 867,925 | 38,336,247 |
International Business Machines Corp. | 187,834 | 35,868,781 |
Johnson & Johnson | 494,164 | 78,171,803 |
Johnson Controls International PLC | 139,940 | 9,140,881 |
JPMorgan Chase & Co. | 593,463 | 118,870,639 |
Kimberly-Clark Corp. | 69,154 | 8,945,070 |
Marsh & McLennan Companies Inc. | 100,995 | 20,802,950 |
Mastercard Inc., Class A | 169,362 | 81,559,658 |
McDonald's Corp. | 148,895 | 41,980,945 |
Merck & Co. Inc. | 520,185 | 68,638,411 |
Microsoft Corp. | 1,525,324 | 641,734,313 |
Morgan Stanley | 257,171 | 24,215,221 |
Nike Inc., Class B | 249,871 | 23,482,877 |
Nvidia Corp. | 507,039 | 458,140,159 |
PepsiCo Inc. | 282,139 | 49,377,146 |
Pfizer Inc. | 1,159,099 | 32,164,997 |
Philip Morris International Inc. | 318,688 | 29,198,195 |
Procter & Gamble Co. (The) | 483,029 | 78,371,455 |
RTX Corp. | 272,369 | 26,564,149 |
Texas Instruments Inc. | 186,659 | 32,517,864 |
Thermo Fisher Scientific Inc. | 79,315 | 46,098,671 |
Security | Shares | Value |
United States (continued) | ||
Walmart Inc. | 878,732 | $52,873,305 |
4,033,474,652 | ||
Total Long-Term Investments — 99.6% (Cost: $3,247,328,653) | 5,189,311,841 | |
Short-Term Securities | ||
Money Market Funds — 0.2% | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(b)(c) | 9,330,000 | 9,330,000 |
Total Short-Term Securities — 0.2% (Cost: $9,330,000) | 9,330,000 | |
Total Investments — 99.8% (Cost: $3,256,658,653) | 5,198,641,841 | |
Other Assets Less Liabilities — 0.2% | 11,185,414 | |
Net Assets — 100.0% | $5,209,827,255 |
(a) | Non-income producing security. |
(b) | Affiliate of the Fund. |
(c) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares(a) | $607,245 | $— | $(609,122 )(b) | $1,814 | $63 | $— | — | $6,021 (c) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 3,900,000 | 5,430,000 (b) | — | — | — | 9,330,000 | 9,330,000 | 392,120 | — |
$1,814 | $63 | $9,330,000 | $398,141 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
Euro STOXX 50 Index | 44 | 06/21/24 | $2,398 | $55,420 |
S&P 500 E-Mini Index | 67 | 06/21/24 | 17,783 | 324,993 |
$380,413 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $380,413 | $— | $— | $— | $380,413 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $2,729,136 | $— | $— | $— | $2,729,136 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(110,295 ) | $— | $— | $— | $(110,295 ) |
Futures contracts: | |
Average notional value of contracts — long | $12,861,754 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $4,097,981,380 | $1,091,330,461 | $— | $5,189,311,841 |
Short-Term Securities | ||||
Money Market Funds | 9,330,000 | — | — | 9,330,000 |
$4,107,311,380 | $1,091,330,461 | $— | $5,198,641,841 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $324,993 | $55,420 | $— | $380,413 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Argentina — 0.2% | ||
Corp. America Airports SA(a) | 472,785 | $7,942,788 |
Australia — 8.9% | ||
Atlas Arteria Ltd. | 19,035,470 | 66,098,407 |
Dalrymple Bay Infrastructure Ltd.(b) | 4,142,025 | 7,397,484 |
Qube Holdings Ltd. | 29,713,620 | 66,019,023 |
Transurban Group | 20,538,299 | 178,172,152 |
317,687,066 | ||
Brazil — 0.9% | ||
Centrais Eletricas Brasileiras SA, ADR | 1,496,681 | 12,497,286 |
Cia. de Saneamento Basico do Estado de Sao Paulo SABESP, ADR | 495,894 | 8,345,896 |
Companhia Paranaense de Energia, ADR | 377,045 | 2,910,787 |
Ultrapar Participacoes SA, ADR | 1,528,109 | 8,740,784 |
32,494,753 | ||
Canada — 8.1% | ||
Enbridge Inc. | 4,128,351 | 149,188,130 |
Keyera Corp. | 445,065 | 11,463,820 |
Pembina Pipeline Corp. | 1,067,183 | 37,667,136 |
TC Energy Corp. | 2,015,028 | 80,984,921 |
Westshore Terminals Investment Corp. | 559,768 | 10,587,469 |
289,891,476 | ||
China — 4.4% | ||
Anhui Expressway Co. Ltd., Class H | 4,922,000 | 5,452,189 |
Beijing Capital International Airport Co. Ltd., Class H(a)(b) | 28,206,000 | 8,554,178 |
CGN Power Co. Ltd., Class H(c) | 15,419,000 | 4,574,482 |
China Gas Holdings Ltd. | 4,268,800 | 3,851,094 |
China Longyuan Power Group Corp. Ltd., Class H | 4,982,000 | 3,494,978 |
China Merchants Port Holdings Co. Ltd. | 21,890,000 | 26,247,651 |
China Resources Gas Group Ltd. | 1,298,000 | 4,141,982 |
China Resources Power Holdings Co. Ltd. | 2,592,000 | 6,053,499 |
COSCO SHIPPING Ports Ltd.(b) | 25,176,000 | 13,823,631 |
Jiangsu Expressway Co. Ltd., Class H | 20,556,000 | 21,040,686 |
Kunlun Energy Co. Ltd. | 5,734,000 | 4,790,136 |
Shenzhen Expressway Corp. Ltd., Class H | 10,310,000 | 9,004,453 |
Shenzhen International Holdings Ltd. | 22,543,000 | 17,309,973 |
Sichuan Expressway Co. Ltd., Class H | 11,446,000 | 4,270,186 |
Yuexiu Transport Infrastructure Ltd.(b) | 15,102,000 | 7,422,540 |
Zhejiang Expressway Co. Ltd., Class H | 27,292,000 | 17,513,375 |
157,545,033 | ||
France — 6.5% | ||
Aeroports de Paris SA | 665,848 | 91,297,270 |
Engie SA | 2,534,551 | 42,472,338 |
Gaztransport Et Technigaz SA | 42,488 | 6,348,587 |
Getlink SE | 5,458,408 | 92,937,017 |
233,055,212 | ||
Germany — 2.2% | ||
E.ON SE(b) | 3,249,934 | 45,245,305 |
Fraport AG Frankfurt Airport Services Worldwide(a) | 606,613 | 31,970,332 |
77,215,637 | ||
Italy — 2.6% | ||
Enav SpA(c) | 4,282,952 | 17,914,183 |
Enel SpA | 11,184,783 | 73,836,295 |
91,750,478 | ||
Japan — 1.7% | ||
Japan Airport Terminal Co. Ltd.(b) | 1,566,800 | 61,913,821 |
Security | Shares | Value |
Mexico — 7.1% | ||
Grupo Aeroportuario del Centro Norte SAB de CV, ADR | 579,648 | $45,844,360 |
Grupo Aeroportuario del Pacifico SAB de CV, ADR | 659,238 | 107,567,865 |
Grupo Aeroportuario del Sureste SAB de CV, ADR | 307,577 | 98,018,638 |
251,430,863 | ||
New Zealand — 3.1% | ||
Auckland International Airport Ltd. | 22,089,016 | 110,195,655 |
Norway — 0.2% | ||
Frontline PLC, NVS | 276,725 | 6,280,573 |
Singapore — 1.4% | ||
Hutchison Port Holdings Trust, Class U(b) | 83,521,700 | 10,511,540 |
SATS Ltd.(a)(b) | 17,552,918 | 33,802,493 |
SIA Engineering Co. Ltd.(b) | 4,159,500 | 6,962,857 |
51,276,890 | ||
Spain — 7.9% | ||
Aena SME SA(c) | 901,557 | 177,564,788 |
Iberdrola SA | 8,451,145 | 104,966,207 |
282,530,995 | ||
Switzerland — 2.0% | ||
Flughafen Zurich AG, Registered | 320,191 | 72,706,074 |
United Kingdom — 2.0% | ||
National Grid PLC | 5,355,480 | 72,159,726 |
United States — 40.3% | ||
American Electric Power Co. Inc. | 760,325 | 65,463,982 |
American Water Works Co. Inc. | 281,447 | 34,395,638 |
Antero Midstream Corp. | 661,512 | 9,300,859 |
Cheniere Energy Inc. | 462,743 | 74,631,191 |
Consolidated Edison Inc. | 499,463 | 45,356,235 |
Constellation Energy Corp. | 465,522 | 86,051,742 |
Dominion Energy Inc. | 1,211,628 | 59,599,981 |
DT Midstream Inc.(a) | 188,339 | 11,507,513 |
Duke Energy Corp. | 1,115,642 | 107,893,738 |
Edison International | 554,055 | 39,188,310 |
Equitrans Midstream Corp. | 841,487 | 10,510,173 |
Exelon Corp. | 1,438,595 | 54,048,014 |
Kinder Morgan Inc. | 3,755,886 | 68,882,949 |
NextEra Energy Inc. | 2,833,782 | 181,107,008 |
ONEOK Inc. | 1,131,441 | 90,707,625 |
PG&E Corp. | 3,084,681 | 51,699,254 |
Public Service Enterprise Group Inc. | 722,069 | 48,219,768 |
Sempra Energy | 909,946 | 65,361,421 |
Southern Co. (The) | 1,578,626 | 113,250,629 |
Targa Resources Corp. | 433,068 | 48,499,285 |
WEC Energy Group Inc. | 456,971 | 37,526,459 |
Williams Companies Inc. (The) | 2,362,706 | 92,074,653 |
Xcel Energy Inc. | 798,374 | 42,912,602 |
1,438,189,029 | ||
Total Common Stocks — 99.5% (Cost: $3,354,957,083) | 3,554,266,069 |
Security | Shares | Value |
Preferred Stocks | ||
Brazil — 0.1% | ||
Cia. Energetica de Minas Gerais, Preference Shares, ADR | 2,127,575 | $5,255,110 |
Total Preferred Stocks — 0.1% (Cost: $3,989,789) | 5,255,110 | |
Total Long-Term Investments — 99.6% (Cost: $3,358,946,872) | 3,559,521,179 | |
Short-Term Securities | ||
Money Market Funds — 0.4% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 9,337,270 | 9,341,005 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(d)(e) | 4,020,000 | 4,020,000 |
Total Short-Term Securities — 0.4% (Cost: $13,360,594) | 13,361,005 | |
Total Investments — 100.0% (Cost: $3,372,307,466) | 3,572,882,184 | |
Other Assets Less Liabilities — 0.0% | 1,095,663 | |
Net Assets — 100.0% | $3,573,977,847 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(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) | 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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $8,023,535 | $1,322,955 (a) | $— | $(2,973 ) | $(2,512 ) | $9,341,005 | 9,337,270 | $191,114 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 16,620,000 | — | (12,600,000 )(a) | — | — | 4,020,000 | 4,020,000 | 240,322 | — |
$(2,973 ) | $(2,512 ) | $13,361,005 | $431,436 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
IBEX 35 Index | 29 | 04/19/24 | $3,466 | $204,917 |
S&P/TSE 60 Index | 24 | 06/20/24 | 4,753 | 66,249 |
SPI 200 Index | 28 | 06/20/24 | 3,629 | 88,054 |
Dow Jones U.S. Real Estate Index | 71 | 06/21/24 | 2,472 | 14,732 |
$373,952 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $373,952 | $— | $— | $— | $373,952 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $2,590,566 | $— | $— | $— | $2,590,566 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(648,327 ) | $— | $— | $— | $(648,327 ) |
Futures contracts: | |
Average notional value of contracts — long | $18,851,748 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $2,163,457,485 | $1,390,808,584 | $— | $3,554,266,069 |
Preferred Stocks | 5,255,110 | — | — | 5,255,110 |
Short-Term Securities | ||||
Money Market Funds | 13,361,005 | — | — | 13,361,005 |
$2,182,073,600 | $1,390,808,584 | $— | $3,572,882,184 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $80,981 | $292,971 | $— | $373,952 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Brazil — 12.1% | ||
Dexco SA | 493,962 | $756,396 |
Klabin SA | 1,642,821 | 8,274,048 |
Suzano SA | 1,218,274 | 15,541,167 |
24,571,611 | ||
Canada — 8.3% | ||
Canfor Corp.(a) | 149,959 | 1,894,207 |
Interfor Corp.(a) | 137,252 | 2,144,072 |
Stella-Jones Inc. | 66,435 | 3,874,619 |
West Fraser Timber Co. Ltd. | 103,910 | 8,972,215 |
16,885,113 | ||
Chile — 3.2% | ||
Empresas CMPC SA | 1,466,875 | 2,980,851 |
Empresas Copec SA | 486,537 | 3,495,447 |
6,476,298 | ||
China — 1.1% | ||
Nine Dragons Paper Holdings Ltd.(a) | 3,378,000 | 1,408,359 |
Shandong Sun Paper Industry JSC Ltd., Class A | 448,300 | 871,065 |
2,279,424 | ||
Finland — 8.6% | ||
Stora Enso OYJ, Class R | 754,603 | 10,493,540 |
UPM-Kymmene OYJ | 207,958 | 6,928,464 |
17,422,004 | ||
Ireland — 6.5% | ||
Smurfit Kappa Group PLC | 288,293 | 13,144,957 |
Japan — 8.4% | ||
Daio Paper Corp. | 157,900 | 1,223,363 |
Nippon Paper Industries Co. Ltd. | 233,000 | 1,803,036 |
Oji Holdings Corp. | 1,354,800 | 5,624,329 |
Sumitomo Forestry Co. Ltd. | 261,400 | 8,485,398 |
17,136,126 | ||
Portugal — 1.1% | ||
Altri SGPS SA | 164,625 | 928,142 |
Navigator Co. SA (The) | 284,635 | 1,244,646 |
2,172,788 | ||
Saudi Arabia — 0.2% | ||
Middle East Paper Co. | 43,419 | 491,693 |
South Africa — 1.5% | ||
Sappi Ltd. | 1,116,359 | 2,964,187 |
Spain — 0.6% | ||
Ence Energia y Celulosa SA(b) | 349,886 | 1,218,424 |
Sweden — 12.5% | ||
Billerud Aktiebolag | 292,919 | 2,628,554 |
Security | Shares | Value |
Sweden (continued) | ||
Holmen AB, Class B | 185,551 | $7,548,193 |
Svenska Cellulosa AB SCA, Class B | 984,953 | 15,142,659 |
25,319,406 | ||
Taiwan — 1.7% | ||
Cheng Loong Corp. | 1,289,000 | 1,180,112 |
Chung Hwa Pulp Corp. | 921,000 | 673,892 |
YFY Inc. | 1,751,000 | 1,631,574 |
3,485,578 | ||
United Kingdom — 3.1% | ||
Mondi PLC, NVS | 361,902 | 6,374,288 |
United States — 30.3% | ||
Clearwater Paper Corp.(a) | 22,166 | 969,319 |
International Paper Co. | 318,261 | 12,418,544 |
Mercer International Inc. | 117,299 | 1,167,125 |
PotlatchDeltic Corp. | 177,554 | 8,348,589 |
Rayonier Inc. | 268,404 | 8,921,749 |
Sylvamo Corp. | 70,781 | 4,370,019 |
Westrock Co. | 180,882 | 8,944,615 |
Weyerhaeuser Co. | 455,334 | 16,351,044 |
61,491,004 | ||
Total Long-Term Investments — 99.2% (Cost: $192,110,598) | 201,432,901 | |
Short-Term Securities | ||
Money Market Funds — 0.2% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(c)(d)(e) | 259,254 | 259,358 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(c)(d) | 180,000 | 180,000 |
Total Short-Term Securities — 0.2% (Cost: $439,395) | 439,358 | |
Total Investments — 99.4% (Cost: $192,549,993) | 201,872,259 | |
Other Assets Less Liabilities — 0.6% | 1,292,879 | |
Net Assets — 100.0% | $203,165,138 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(c) | Affiliate of the Fund. |
(d) | Annualized 7-day yield as of period end. |
(e) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $666,559 | $— | $(407,283 )(a) | $(119 ) | $201 | $259,358 | 259,254 | $31,638 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 260,000 | — | (80,000 )(a) | — | — | 180,000 | 180,000 | 8,833 | — |
$(119 ) | $201 | $439,358 | $40,471 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
E-Mini Russell 1000 Value Index | 18 | 06/21/24 | $1,605 | $43,900 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $43,900 | $— | $— | $— | $43,900 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $183,236 | $— | $— | $— | $183,236 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(22,360 ) | $— | $— | $— | $(22,360 ) |
Futures contracts: | |
Average notional value of contracts — long | $1,271,380 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $122,053,723 | $79,379,178 | $— | $201,432,901 |
Short-Term Securities | ||||
Money Market Funds | 439,358 | — | — | 439,358 |
$122,493,081 | $79,379,178 | $— | $201,872,259 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $43,900 | $— | $— | $43,900 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Chemicals — 39.2% | ||
Albemarle Corp. | 1,823 | $240,162 |
Arcadium Lithium PLC, NVS(a) | 44,177 | 190,403 |
Canmax Technologies Co. Ltd., Class A | 8,000 | 21,709 |
Chengxin Lithium Group Co. Ltd., Class A | 9,100 | 24,098 |
Chunbo Co. Ltd.(a) | 727 | 47,419 |
CNGR Advanced Material Co. Ltd. | 6,600 | 47,215 |
Do-Fluoride New Materials Co. Ltd., Class A | 11,700 | 23,047 |
Foosung Co. Ltd.(a) | 8,620 | 51,068 |
Ganfeng Lithium Group Co. Ltd., Class A | 15,500 | 76,744 |
Guangzhou Tinci Materials Technology Co. Ltd., Class A | 18,800 | 56,388 |
Ningbo Shanshan Co. Ltd. | 22,400 | 36,040 |
Shenzhen Capchem Technology Co. Ltd. | 7,300 | 34,190 |
Shenzhen Dynanonic Co. Ltd. | 2,600 | 13,555 |
Shenzhen Senior Technology Material Co. Ltd., Class A | 12,800 | 19,518 |
Sichuan Yahua Industrial Group Co. Ltd., Class A | 11,000 | 15,635 |
Tanaka Chemical Corp.(b) | 2,600 | 17,240 |
Tianqi Lithium Corp., Class A | 14,400 | 94,571 |
Yunnan Energy New Material Co. Ltd., Class A | 9,500 | 53,333 |
1,062,335 | ||
Electrical Equipment — 19.1% | ||
Beijing Easpring Material Technology Co. Ltd., Class A | 4,900 | 25,674 |
Hunan Changyuan Lico Co. Ltd. | 18,868 | 13,798 |
Hunan Yuneng New Energy Battery Material Co. Ltd., NVS | 7,300 | 31,070 |
Jiangsu Ruitai New Energy Materials Co. Ltd., NVS | 7,600 | 17,780 |
Jiangxi Special Electric Motor Co. Ltd., NVS(a) | 16,400 | 21,303 |
Ningbo Ronbay New Energy Technology Co. Ltd. | 4,677 | 17,808 |
Shijiazhuang Shangtai Technology Co. Ltd., NVS | 2,400 | 9,959 |
SK IE Technology Co. Ltd.(a)(c) | 2,340 | 127,101 |
Sociedad Quimica y Minera de Chile SA, ADR | 4,776 | 234,788 |
XTC New Energy Materials Xiamen Co. Ltd., NVS | 4,049 | 17,886 |
517,167 | ||
Metals & Mining — 33.6% | ||
American Lithium Corp., NVS(a)(b) | 34,604 | 23,531 |
Core Lithium Ltd.(a)(b) | 344,569 | 34,777 |
Lake Resources NL(a)(b) | 210,382 | 9,055 |
Latin Resources Ltd., NVS(a) | 421,616 | 50,770 |
Liontown Resources Ltd.(a) | 147,217 | 112,097 |
Lithium Americas Corp.(a)(b) | 23,548 | 158,243 |
Piedmont Lithium Inc.(a) | 3,098 | 41,265 |
Pilbara Minerals Ltd. | 83,398 | 208,115 |
Sayona Mining Ltd.(a) | 1,660,041 | 42,241 |
Sigma Lithium Corp.(a)(b) | 8,643 | 112,013 |
Security | Shares | Value |
Metals & Mining (continued) | ||
Sinomine Resource Group Co. Ltd., Class A | 7,000 | $35,142 |
Tibet Mineral Development Co. | 5,200 | 15,335 |
Vulcan Energy Resources Ltd.(a)(b) | 21,868 | 40,895 |
Winsome Resources Ltd., NVS(a) | 27,513 | 15,760 |
Youngy Co. Ltd. | 2,600 | 13,806 |
913,045 | ||
Technology Hardware, Storage & Peripherals — 7.6% | ||
CosmoAM&T Co. Ltd.(a) | 1,728 | 205,370 |
Total Common Stocks — 99.5% (Cost: $4,356,822) | 2,697,917 | |
Rights | ||
Chemicals — 0.0% | ||
Foosung Co. Ltd. (Expires 04/18/24, Strike Price KRW 6870)(a) | 1,060 | 1,024 |
Total Rights — 0.0% (Cost: $—) | 1,024 | |
Total Long-Term Investments — 99.5% (Cost: $4,356,822) | 2,698,941 | |
Short-Term Securities | ||
Money Market Funds — 12.7% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 344,683 | 344,821 |
Total Short-Term Securities — 12.7% (Cost: $344,837) | 344,821 | |
Total Investments — 112.2% (Cost: $4,701,659) | 3,043,762 | |
Liabilities in Excess of Other Assets — (12.2)% | (331,599 ) | |
Net Assets — 100.0% | $2,712,163 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(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) | 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. |
Affiliated Issuer | Value at 06/21/23(a) | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $— | $344,796 (b) | $— | $41 | $(16 ) | $344,821 | 344,683 | $7,933 (c) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares(d) | — | 0 (b) | — | — | — | — | — | 319 | — |
$41 | $(16 ) | $344,821 | $8,252 | $— |
(a) | Commencement of operations. |
(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. |
(d) | As of period end, the entity is no longer held. |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $(3,168 ) | $— | $— | $— | $(3,168 ) |
Forward foreign currency exchange contracts | — | — | — | 13 | — | — | 13 |
$— | $— | $(3,168 ) | $13 | $— | $— | $(3,155 ) |
Futures contracts: | |
Average notional value of contracts — long | $16,049 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $1,272,511 | $1,425,406 | $— | $2,697,917 |
Rights | 1,024 | — | — | 1,024 |
Short-Term Securities | ||||
Money Market Funds | 344,821 | — | — | 344,821 |
$1,618,356 | $1,425,406 | $— | $3,043,762 |
iShares Copper and Metals Mining ETF | iShares Environmental Infrastructure and Industrials ETF | iShares Global 100 ETF | iShares Global Infrastructure ETF | |
ASSETS | ||||
Investments, at value—unaffiliated(a)(b) | $7,033,117 | $4,912,653 | $5,189,311,841 | $3,559,521,179 |
Investments, at value—affiliated(c) | 585,612 | — | 9,330,000 | 13,361,005 |
Cash | 3,762 | 2,818 | 711,182 | 552,726 |
Cash pledged for futures contracts | 2,000 | 1,000 | 799,000 | 166,000 |
Foreign currency collateral pledged for futures contracts(d) | — | — | 148,881 | 891,932 |
Foreign currency, at value(e) | 14,997 | 4,239 | 4,239,983 | 4,745,168 |
Receivables: | ||||
Investments sold | — | — | — | 147,394,317 |
Securities lending income—affiliated | 142 | — | — | 3,109 |
Capital shares sold | — | — | 17,062 | — |
Dividends— unaffiliated | 11,092 | 6,109 | 6,787,084 | 8,147,236 |
Dividends—affiliated | — | — | 34,858 | 16,358 |
Tax reclaims | — | 414 | 1,702,978 | 224,210 |
Variation margin on futures contracts | — | — | 5,434 | 78,747 |
Total assets | 7,650,722 | 4,927,233 | 5,213,088,303 | 3,735,101,987 |
LIABILITIES | ||||
Collateral on securities loaned, at value | 585,664 | — | — | 9,344,075 |
Payables: | ||||
Investments purchased | — | — | 17,062 | 150,599,345 |
Deferred foreign capital gain tax | — | 172 | — | — |
Investment advisory fees | 2,328 | 1,923 | 1,730,007 | 1,180,720 |
IRS compliance fee for foreign withholding tax claims | — | — | 1,513,979 | — |
Variation margin on futures contracts | 5 | 56 | — | — |
Total liabilities | 587,997 | 2,151 | 3,261,048 | 161,124,140 |
Commitments and contingent liabilities | ||||
NET ASSETS | $7,062,725 | $4,925,082 | $5,209,827,255 | $3,573,977,847 |
NET ASSETS CONSIST OF | ||||
Paid-in capital | $6,354,720 | $4,016,012 | $3,521,078,000 | $3,808,804,917 |
Accumulated earnings (loss) | 708,005 | 909,070 | 1,688,749,255 | (234,827,070) |
NET ASSETS | $7,062,725 | $4,925,082 | $5,209,827,255 | $3,573,977,847 |
NET ASSET VALUE | ||||
Shares outstanding | 250,000 | 160,000 | 58,300,000 | 74,900,000 |
Net asset value | $28.25 | $30.78 | $89.36 | $47.72 |
Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
Par value | None | None | None | None |
(a) Investments, at cost—unaffiliated | $6,304,710 | $3,976,621 | $3,247,328,653 | $3,358,946,872 |
(b) Securities loaned, at value | $568,249 | $— | $— | $8,918,922 |
(c) Investments, at cost—affiliated | $585,686 | $— | $9,330,000 | $13,360,594 |
(d) Foreign currency collateral pledged, at cost | $— | $— | $152,959 | $916,748 |
(e) Foreign currency, at cost | $15,019 | $4,272 | $4,267,619 | $4,742,392 |
iShares Global Timber & Forestry ETF | iShares Lithium Miners and Producers ETF | |
ASSETS | ||
Investments, at value—unaffiliated(a)(b) | $201,432,901 | $2,698,941 |
Investments, at value—affiliated(c) | 439,358 | 344,821 |
Cash | 90,854 | 3,254 |
Cash pledged for futures contracts | 80,000 | — |
Foreign currency, at value(d) | 459,617 | 7,309 |
Receivables: | ||
Securities lending income—affiliated | 1,656 | 2,727 |
Dividends—unaffiliated | 443,511 | 1,023 |
Dividends— affiliated | 575 | — |
Tax reclaims | 541,734 | — |
Total assets | 203,490,206 | 3,058,075 |
LIABILITIES | ||
Collateral on securities loaned, at value | 259,432 | 344,796 |
Payables: | ||
Investment advisory fees | 65,611 | 1,116 |
Variation margin on futures contracts | 25 | — |
Total liabilities | 325,068 | 345,912 |
Commitments and contingent liabilities | ||
NET ASSETS | $203,165,138 | $2,712,163 |
NET ASSETS CONSIST OF | ||
Paid-in capital | $231,908,526 | $5,003,149 |
Accumulated loss | (28,743,388) | (2,290,986) |
NET ASSETS | $203,165,138 | $2,712,163 |
NET ASSET VALUE | ||
Shares outstanding | 2,400,000 | 200,000 |
Net asset value | $84.65 | $13.56 |
Shares authorized | Unlimited | Unlimited |
Par value | None | None |
(a) Investments, at cost—unaffiliated | $192,110,598 | $4,356,822 |
(b) Securities loaned, at value | $246,794 | $326,114 |
(c) Investments, at cost—affiliated | $439,395 | $344,837 |
(d) Foreign currency, at cost | $461,843 | $7,359 |
iShares Copper and Metals Mining ETF(a) | iShares Environmental Infrastructure and Industrials ETF | iShares Global 100 ETF | iShares Global Infrastructure ETF | |
INVESTMENT INCOME | ||||
Dividends—unaffiliated | $156,978 | $93,955 | $81,563,610 | $150,509,466 |
Dividends—affiliated | 105 | 49 | 392,120 | 240,322 |
Interest—unaffiliated | 132 | 168 | 38,040 | 66,725 |
Securities lending income—affiliated—net | 505 | 68 | 6,021 | 191,114 |
Other income—unaffiliated | — | — | 188,648 | 677,857 |
Foreign taxes withheld | (4,774 ) | (5,249 ) | (3,281,080 ) | (9,716,979 ) |
Foreign withholding tax claims | — | — | 1,709,951 | 3,261,875 |
IRS compliance fee for foreign withholding tax claims | — | — | (43,101 ) | — |
Total investment income | 152,946 | 88,991 | 80,574,209 | 145,230,380 |
EXPENSES | ||||
Investment advisory | 17,739 | 20,935 | 17,224,905 | 14,846,937 |
Commitment costs | 6 | 12 | 2,928 | 5,923 |
Professional | — | — | 195,380 | 394,011 |
Total expenses | 17,745 | 20,947 | 17,423,213 | 15,246,871 |
Net investment income | 135,201 | 68,044 | 63,150,996 | 129,983,509 |
REALIZED AND UNREALIZED GAIN (LOSS) | ||||
Net realized gain (loss) from: | ||||
Investments—unaffiliated | (43,401 ) | (5,096 ) | (85,559,215 ) | (62,602,415 ) |
Investments—affiliated | 23 | 16 | 1,814 | (2,973 ) |
Foreign currency transactions | 221 | (605 ) | (1,191 ) | (168,531 ) |
Futures contracts | (2,844 ) | 1,400 | 2,729,136 | 2,590,566 |
In-kind redemptions—unaffiliated(b) | — | — | 78,238,755 | 97,387,029 |
(46,001 ) | (4,285 ) | (4,590,701 ) | 37,203,676 | |
Net change in unrealized appreciation (depreciation) on: | ||||
Investments—unaffiliated(c) | 728,407 | 528,729 | 1,098,602,732 | (66,060,603 ) |
Investments—affiliated | (74 ) | — | 63 | (2,512 ) |
Foreign currency translations | (24 ) | (156 ) | (24,281 ) | 62,451 |
Futures contracts | 694 | (354 ) | (110,295 ) | (648,327 ) |
729,003 | 528,219 | 1,098,468,219 | (66,648,991 ) | |
Net realized and unrealized gain (loss) | 683,002 | 523,934 | 1,093,877,518 | (29,445,315 ) |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $818,203 | $591,978 | $1,157,028,514 | $100,538,194 |
(a) For the period from June 21, 2023 (commencement of operations) to to March 31, 2024. | ||||
(b) See Note 2 of the Notes to Financial Statements. | ||||
(c) Net of increase in deferred foreign capital gain tax of | $— | $(172 ) | $— | $— |
iShares Global Timber & Forestry ETF | iShares Lithium Miners and Producers ETF(a) | |
INVESTMENT INCOME | ||
Dividends—unaffiliated | $4,933,207 | $29,964 |
Dividends—affiliated | 8,833 | 319 |
Interest—unaffiliated | 4,756 | 128 |
Securities lending income—affiliated—net | 31,638 | 7,933 |
Foreign taxes withheld | (315,537 ) | (3,750 ) |
Total investment income | 4,662,897 | 34,594 |
EXPENSES | ||
Investment advisory | 820,616 | 12,549 |
Professional | 3,782 | — |
Interest expense | 3,590 | — |
Commitment costs | 1,589 | 22 |
Total expenses | 829,577 | 12,571 |
Net investment income | 3,833,320 | 22,023 |
REALIZED AND UNREALIZED GAIN (LOSS) | ||
Net realized gain (loss) from: | ||
Investments—unaffiliated | (9,900,333 ) | (628,441 ) |
Investments—affiliated | (119 ) | 41 |
Forward foreign currency exchange contracts | — | 13 |
Foreign currency transactions | 79,575 | 102 |
Futures contracts | 183,236 | (3,168 ) |
In-kind redemptions—unaffiliated(b) | 3,851,118 | — |
(5,786,523 ) | (631,453 ) | |
Net change in unrealized appreciation (depreciation) on: | ||
Investments—unaffiliated | 38,390,651 | (1,657,881 ) |
Investments—affiliated | 201 | (16 ) |
Foreign currency translations | (2,904 ) | (54 ) |
Futures contracts | (22,360 ) | — |
38,365,588 | (1,657,951 ) | |
Net realized and unrealized gain (loss) | 32,579,065 | (2,289,404 ) |
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $36,412,385 | $(2,267,381 ) |
(a) For the period from June 21, 2023 (commencement of operations) to to March 31, 2024. | ||
(b) See Note 2 of the Notes to Financial Statements. |
iShares Copper and Metals Mining ETF | iShares Environmental Infrastructure and Industrials ETF | ||
Period From 06/21/23(a) to 03/31/24 | Year Ended 03/31/24 | Period From 11/01/22(a) to 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | |||
OPERATIONS | |||
Net investment income | $135,201 | $68,044 | $17,976 |
Net realized loss | (46,001 ) | (4,285 ) | (33,572 ) |
Net change in unrealized appreciation (depreciation) | 729,003 | 528,219 | 407,577 |
Net increase in net assets resulting from operations | 818,203 | 591,978 | 391,981 |
DISTRIBUTIONS TO SHAREHOLDERS(b) | |||
Decrease in net assets resulting from distributions to shareholders | (110,198 ) | (69,099 ) | (5,790 ) |
CAPITAL SHARE TRANSACTIONS | |||
Net increase in net assets derived from capital share transactions | 6,354,720 | — | 4,016,012 |
NET ASSETS | |||
Total increase in net assets | 7,062,725 | 522,879 | 4,402,203 |
Beginning of period | — | 4,402,203 | — |
End of period | $7,062,725 | $4,925,082 | $4,402,203 |
(a) | Commencement of operations. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Global 100 ETF | iShares Global Infrastructure ETF | |||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/24 | Year Ended 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $63,150,996 | $68,704,768 | $129,983,509 | $101,234,304 |
Net realized gain (loss) | (4,590,701 ) | 138,328,173 | 37,203,676 | (461,244 ) |
Net change in unrealized appreciation (depreciation) | 1,098,468,219 | (446,564,115 ) | (66,648,991 ) | (211,054,358 ) |
Net increase (decrease) in net assets resulting from operations | 1,157,028,514 | (239,531,174 ) | 100,538,194 | (110,281,298 ) |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (65,122,612 ) | (66,133,768 ) | (125,266,515 ) | (92,664,851 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | 513,768,284 | 66,208,396 | (244,727,822 ) | 613,390,828 |
NET ASSETS | ||||
Total increase (decrease) in net assets | 1,605,674,186 | (239,456,546 ) | (269,456,143 ) | 410,444,679 |
Beginning of year | 3,604,153,069 | 3,843,609,615 | 3,843,433,990 | 3,432,989,311 |
End of year | $5,209,827,255 | $3,604,153,069 | $3,573,977,847 | $3,843,433,990 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Global Timber & Forestry ETF | iShares Lithium Miners and Producers ETF | ||
Year Ended 03/31/24 | Year Ended 03/31/23 | Period From 06/21/23(a) to 03/31/24 | |
INCREASE (DECREASE) IN NET ASSETS | |||
OPERATIONS | |||
Net investment income | $3,833,320 | $4,471,918 | $22,023 |
Net realized loss | (5,786,523 ) | (12,234,927 ) | (631,453 ) |
Net change in unrealized appreciation (depreciation) | 38,365,588 | (45,341,807 ) | (1,657,951 ) |
Net increase (decrease) in net assets resulting from operations | 36,412,385 | (53,104,816 ) | (2,267,381 ) |
DISTRIBUTIONS TO SHAREHOLDERS(b) | |||
Decrease in net assets resulting from distributions to shareholders | (3,848,829 ) | (5,674,714 ) | (23,605 ) |
CAPITAL SHARE TRANSACTIONS | |||
Net increase (decrease) in net assets derived from capital share transactions | (31,701,771 ) | (54,370,685 ) | 5,003,149 |
NET ASSETS | |||
Total increase (decrease) in net assets | 861,785 | (113,150,215 ) | 2,712,163 |
Beginning of year | 202,303,353 | 315,453,568 | — |
End of year | $203,165,138 | $202,303,353 | $2,712,163 |
(a) | Commencement of operations. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Copper and Metals Mining ETF | |
Period From 06/21/23(a) to 03/31/24 | |
Net asset value, beginning of period | $25.04 |
Net investment income(b) | 0.68 |
Net realized and unrealized gain(c) | 3.08 |
Net increase from investment operations | 3.76 |
Distributions from net investment income(d) | (0.55 ) |
Net asset value, end of period | $28.25 |
Total Return(e) | |
Based on net asset value | 15.33 %(f) |
Ratios to Average Net Assets(g) | |
Total expenses | 0.47 %(h) |
Net investment income | 3.58 %(h) |
Supplemental Data | |
Net assets, end of period (000) | $7,063 |
Portfolio turnover rate(i) | 55 % |
(a) Commencement of operations. | |
(b) Based on average shares outstanding. | |
(c) The amount reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |
(e) Where applicable, assumes the reinvestment of distributions. | |
(f) Not annualized. | |
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |
(h) Annualized. | |
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Environmental Infrastructure and Industrials ETF | ||
Year Ended 03/31/24 | Period From 11/01/22(a) to 03/31/23 | |
Net asset value, beginning of period | $27.51 | $25.10 |
Net investment income(b) | 0.43 | 0.11 |
Net realized and unrealized gain(c) | 3.27 | 2.34 |
Net increase from investment operations | 3.70 | 2.45 |
Distributions from net investment income(d) | (0.43 ) | (0.04 ) |
Net asset value, end of period | $30.78 | $27.51 |
Total Return(e) | ||
Based on net asset value | 13.60 % | 9.76 %(f) |
Ratios to Average Net Assets(g) | ||
Total expenses | 0.47 % | 0.47 %(h) |
Net investment income | 1.53 % | 1.01 %(h) |
Supplemental Data | ||
Net assets, end of period (000) | $4,925 | $4,402 |
Portfolio turnover rate(i) | 15 % | 13 % |
(a) Commencement of operations. | ||
(b) Based on average shares outstanding. | ||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | ||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | ||
(e) Where applicable, assumes the reinvestment of distributions. | ||
(f) Not annualized. | ||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | ||
(h) Annualized. | ||
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global 100 ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $70.05 | $75.96 | $65.92 | $44.71 | $47.57 |
Net investment income(a) | 1.14 (b) | 1.30 (b) | 1.16 | 0.99 | 1.06 |
Net realized and unrealized gain (loss)(c) | 19.37 | (5.93 ) | 10.08 | 21.16 | (2.83 ) |
Net increase (decrease) from investment operations | 20.51 | (4.63 ) | 11.24 | 22.15 | (1.77 ) |
Distributions from net investment income(d) | (1.20 ) | (1.28 ) | (1.20 ) | (0.94 ) | (1.09 ) |
Net asset value, end of year | $89.36 | $70.05 | $75.96 | $65.92 | $44.71 |
Total Return(e) | |||||
Based on net asset value | 29.61 %(b) | (6.02 )%(b) | 17.11 % | 49.88 % | (3.91 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.40 % | 0.41 % | 0.40 % | 0.40 % | 0.40 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.40 % | 0.40 % | 0.40 % | N/A | 0.40 % |
Net investment income | 1.47 %(b) | 1.95 %(b) | 1.58 % | 1.71 % | 2.11 % |
Supplemental Data | |||||
Net assets, end of year (000) | $5,209,827 | $3,604,153 | $3,843,610 | $2,973,065 | $1,855,568 |
Portfolio turnover rate(g) | 16 % | 2 % | 2 % | 3 % | 5 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31, 2024 and March 31, 2023, respectively: • Net investment income per share by $0.03 and $0.06. • Total return by 0.04% and 0.08%. • Ratio of net investment income to average net assets by 0.04% and 0.09%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Infrastructure ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $47.69 | $50.78 | $45.05 | $33.89 | $44.78 |
Net investment income(a) | 1.64 (b) | 1.33 (b) | 1.04 | 1.04 | 1.54 |
Net realized and unrealized gain (loss)(c) | (0.03 ) | (3.20 ) | 5.84 | 11.14 | (10.86 ) |
Net increase (decrease) from investment operations | 1.61 | (1.87 ) | 6.88 | 12.18 | (9.32 ) |
Distributions from net investment income(d) | (1.58 ) | (1.22 ) | (1.15 ) | (1.02 ) | (1.57 ) |
Net asset value, end of year | $47.72 | $47.69 | $50.78 | $45.05 | $33.89 |
Total Return(e) | |||||
Based on net asset value | 3.50 %(b) | (3.74 )%(b) | 15.54 % | 36.27 %(f) | (21.75 )% |
Ratios to Average Net Assets(g) | |||||
Total expenses | 0.42 % | 0.41 % | 0.40 % | 0.43 % | 0.46 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.41 % | 0.41 % | N/A | N/A | N/A |
Net investment income | 3.56 %(b) | 2.81 %(b) | 2.23 % | 2.57 % | 3.38 % |
Supplemental Data | |||||
Net assets, end of year (000) | $3,573,978 | $3,843,434 | $3,432,989 | $3,063,620 | $2,741,647 |
Portfolio turnover rate(h) | 13 % | 19 % | 16 % | 25 % | 9 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31, 2024 and March 31, 2023, respectively: • Net investment income per share by $ 0.04 and $ 0.00. • Total return by 0.08% and 0.01%. • Ratio of net investment income to average net assets by 0.08% and 0.01%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Includes payment received from an affiliate, which had no impact on the Fund’s total return. | |||||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(h) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Timber & Forestry ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $71.74 | $89.11 | $85.14 | $48.10 | $63.82 |
Net investment income(a) | 1.42 | 1.40 (b) | 1.58 (b) | 0.78 | 0.79 |
Net realized and unrealized gain (loss)(c) | 12.83 | (17.13 ) | 3.53 | 37.04 | (15.27 ) |
Net increase (decrease) from investment operations | 14.25 | (15.73 ) | 5.11 | 37.82 | (14.48 ) |
Distributions from net investment income(d) | (1.34 ) | (1.64 ) | (1.14 ) | (0.78 ) | (1.24 ) |
Net asset value, end of year | $84.65 | $71.74 | $89.11 | $85.14 | $48.10 |
Total Return(e) | |||||
Based on net asset value | 20.21 % | (17.90 )%(b) | 6.04 %(b) | 79.23 % | (23.04 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.41 % | 0.42 % | 0.41 % | 0.43 % | 0.46 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.41 % | 0.41 % | 0.40 % | N/A | N/A |
Net investment income | 1.90 % | 1.81 %(b) | 1.78 %(b) | 1.15 % | 1.30 % |
Supplemental Data | |||||
Net assets, end of year (000) | $203,165 | $202,303 | $315,454 | $332,050 | $173,178 |
Portfolio turnover rate(g) | 23 % | 29 % | 18 % | 14 % | 10 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for years ended March 31, 2023 and March 31, 2022, respectively: • Net investment income per share by $0.05 and $0.07. • Total return by 0.07% and 0.09%. • Ratio of net investment income to average net assets by 0.06% and 0.07%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Lithium Miners and Producers ETF | |
Period From 06/21/23(a) to 03/31/24 | |
Net asset value, beginning of period | $24.94 |
Net investment income(b) | 0.11 |
Net realized and unrealized loss(c) | (11.37 ) |
Net decrease from investment operations | (11.26 ) |
Distributions from net investment income(d) | (0.12 ) |
Net asset value, end of period | $13.56 |
Total Return(e) | |
Based on net asset value | (45.19 )%(f) |
Ratios to Average Net Assets(g) | |
Total expenses | 0.47 %(h) |
Net investment income | 0.82 %(h) |
Supplemental Data | |
Net assets, end of period (000) | $2,712 |
Portfolio turnover rate(i) | 48 % |
(a) Commencement of operations. | |
(b) Based on average shares outstanding. | |
(c) The amount reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |
(e) Where applicable, assumes the reinvestment of distributions. | |
(f) Not annualized. | |
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |
(h) Annualized. | |
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares ETF | Diversification Classification |
Copper and Metals Mining(a) | Non-diversified |
Environmental Infrastructure and Industrials | Non-diversified |
Global 100(b) | Diversified |
Global Infrastructure | Diversified |
Global Timber & Forestry | Non-diversified |
Lithium Miners and Producers(a) | Non-diversified |
(a) | The Funds commenced operations on June 21, 2023. |
(b) | The Fund intends to be diversified in approximately the same proportion as its underlying index is diversified. The Fund may become non-diversified, as defined in the 1940 Act, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of its underlying index. Shareholder approval will not be sought if the Fund crosses from diversified to non-diversified status due solely to a change in its relative market capitalization or index weighting of one or more constituents of its underlying index. |
iShares ETF and Counterparty | Securities Loaned at Value | Cash Collateral Received(a) | Non-Cash Collateral Received, at Fair Value(a) | Net Amount |
Copper and Metals Mining | ||||
BofA Securities, Inc. | $202,821 | $(202,821) | $— | $— |
Citigroup Global Markets, Inc. | 365,428 | (365,428) | — | — |
$568,249 | $(568,249) | $— | $— | |
Global Infrastructure | ||||
Barclays Bank PLC | $310,522 | $(310,522) | $— | $— |
BofA Securities, Inc. | 5,212,834 | (5,212,834) | — | — |
Goldman Sachs & Co. LLC | 446,490 | (446,490) | — | — |
J.P. Morgan Securities LLC | 142,258 | (142,258) | — | — |
Morgan Stanley | 760,364 | (760,364) | — | — |
SG Americas Securities LLC | 21,279 | (21,279) | — | — |
State Street Bank & Trust Co. | 2,025,175 | (2,025,175) | — | — |
$8,918,922 | $(8,918,922) | $— | $— | |
Global Timber & Forestry | ||||
Morgan Stanley | $246,794 | $(246,794) | $— | $— |
Lithium Miners and Producers | ||||
Barclays Bank PLC | $88,747 | $(88,747) | $— | $— |
BofA Securities, Inc. | 29,913 | (29,913) | — | — |
Citigroup Global Markets, Inc. | 76,858 | (76,858) | — | — |
UBS AG | 130,596 | (130,596) | — | — |
$326,114 | $(326,114) | $— | $— |
(a) | Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund’s Statements of Assets and Liabilities. |
iShares ETF | Investment Advisory Fees |
Copper and Metals Mining | 0.47% |
Environmental Infrastructure and Industrials | 0.47 |
Global 100 | 0.40 |
Lithium Miners and Producers | 0.47 |
Aggregate Average Daily Net Assets | Investment Advisory Fees |
First $10 billion | 0.4800% |
Over $10 billion, up to and including $20 billion | 0.4300 |
Over $20 billion, up to and including $30 billion | 0.3800 |
Over $30 billion, up to and including $40 billion | 0.3420 |
Over $40 billion | 0.3078 |
iShares ETF | Amounts |
Copper and Metals Mining | $171 |
Environmental Infrastructure and Industrials | 27 |
Global 100 | 2,177 |
Global Infrastructure | 42,778 |
Global Timber & Forestry | 7,178 |
Lithium Miners and Producers | 1,677 |
iShares ETF | Purchases | Sales | Net Realized Gain (Loss) |
Global 100 | $251,200,498 | $165,907,516 | $(17,064,386) |
Global Infrastructure | 13,921,294 | 14,632,707 | (969,306) |
Global Timber & Forestry | 1,242,419 | 2,096,572 | (88,857) |
iShares ETF | Purchases | Sales |
Copper and Metals Mining | $3,312,942 | $2,663,920 |
Environmental Infrastructure and Industrials | 667,684 | 666,432 |
Global 100 | 752,158,787 | 702,828,484 |
Global Infrastructure | 532,905,916 | 466,057,508 |
Global Timber & Forestry | 46,231,384 | 48,889,701 |
Lithium Miners and Producers | 2,931,378 | 1,618,526 |
iShares ETF | In-kind Purchases | In-kind Sales |
Copper and Metals Mining | $5,699,089 | $— |
Global 100 | 591,495,509 | 134,348,258 |
Global Infrastructure | 289,960,577 | 571,931,952 |
Global Timber & Forestry | 11,153,959 | 37,578,731 |
Lithium Miners and Producers | 3,672,411 | — |
iShares ETF | Paid-in Capital | Accumulated Earnings (Loss) |
Global 100 | $77,353,866 | $ (77,353,866) |
Global Infrastructure | 91,611,624 | (91,611,624) |
Global Timber & Forestry | 3,523,894 | (3,523,894) |
iShares ETF | Period Ended 03/31/24 |
Copper and Metals Mining | |
Ordinary income | $110,198 |
iShares ETF | Year Ended 03/31/24 | Period Ended 03/31/23 |
Environmental Infrastructure and Industrials | ||
Ordinary income | $69,099 | $5,790 |
iShares ETF | Year Ended 03/31/24 | Year Ended 03/31/23 |
Global 100 | ||
Ordinary income | $65,122,612 | $66,133,768 |
Global Infrastructure | ||
Ordinary income | $125,266,515 | $92,664,851 |
Global Timber & Forestry | ||
Ordinary income | $3,848,829 | $5,674,714 |
iShares ETF | Period Ended 03/31/24 |
Lithium Miners and Producers | |
Ordinary income | $23,605 |
iShares ETF | Undistributed Ordinary Income | Non-expiring Capital Loss Carryforwards(a) | Net Unrealized Gains (Losses)(b) | Qualified Late-Year Ordinary Losses(c) | Total |
Copper and Metals Mining | $50,260 | $(28,602) | $686,347 | $ — | $708,005 |
Environmental Infrastructure and Industrials | 11,335 | (35,846) | 933,581 | — | 909,070 |
Global 100 | 17,799,589 | (224,430,245) | 1,895,379,911 | — | 1,688,749,255 |
Global Infrastructure | 22,176,821 | (425,035,059) | 168,031,168 | — | (234,827,070) |
Global Timber & Forestry | 94,396 | (37,325,088) | 8,487,304 | — | (28,743,388) |
Lithium Miners and Producers | — | (519,167) | (1,771,160) | (659) | (2,290,986) |
(a) | Amounts available to offset future realized capital gains. |
(b) | The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain foreign currency and futures contracts and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies. |
(c) | The Funds have elected to defer these qualified late-year losses and recognize such losses in the next taxable year. |
iShares ETF | Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) |
Copper and Metals Mining | $6,932,358 | $857,793 | $(171,422) | $686,371 |
Environmental Infrastructure and Industrials | 3,978,845 | 1,109,099 | (175,291) | 933,808 |
Global 100 | 3,303,210,116 | 2,016,958,422 | (121,527,537) | 1,895,430,885 |
Global Infrastructure | 3,405,261,151 | 403,624,770 | (235,653,236) | 167,971,534 |
Global Timber & Forestry | 193,358,900 | 25,498,215 | (17,006,500) | 8,491,715 |
Lithium Miners and Producers | 4,814,868 | 2,340 | (1,773,446) | (1,771,106) |
Period Ended 03/31/24 | ||
iShares ETF | Shares | Amount |
Copper and Metals Mining(a) | ||
Shares sold | 250,000 | $6,354,720 |
(a) | The Funds commenced operations on June 21, 2023. |
Year Ended 03/31/24 | Period Ended 03/31/23(a) | |||
iShares ETF | Shares | Amount | Shares | Amount |
Environmental Infrastructure and Industrials | ||||
Shares sold | — | $— | 160,000 | $4,016,012 |
(a) | The Fund commenced operations on November 01, 2022. |
Year Ended 03/31/24 | Year Ended 03/31/23 | |||
iShares ETF | Shares | Amount | Shares | Amount |
Global 100 | ||||
Shares sold | 8,500,000 | $651,917,018 | 5,700,000 | $385,994,005 |
Shares redeemed | (1,650,000 ) | (138,148,734 ) | (4,850,000 ) | (319,785,609 ) |
6,850,000 | $513,768,284 | 850,000 | $66,208,396 |
Year Ended 03/31/24 | Year Ended 03/31/23 | |||
iShares ETF | Shares | Amount | Shares | Amount |
Global Infrastructure | ||||
Shares sold | 7,300,000 | $333,963,513 | 21,600,000 | $1,019,069,803 |
Shares redeemed | (13,000,000 ) | (578,691,335 ) | (8,600,000 ) | (405,678,975 ) |
(5,700,000 ) | $(244,727,822 ) | 13,000,000 | $613,390,828 | |
Global Timber & Forestry | ||||
Shares sold | 180,000 | $12,999,997 | — | $(1,137 ) |
Shares redeemed | (600,000 ) | (44,701,768 ) | (720,000 ) | (54,369,548 ) |
(420,000 ) | $(31,701,771 ) | (720,000 ) | $(54,370,685 ) |
Period Ended 03/31/24 | ||
iShares ETF | Shares | Amount |
Lithium Miners and Producers(a) | ||
Shares sold | 200,000 | $5,003,149 |
(a) | The Funds commenced operations on June 21, 2023. |
iShares Trust and Shareholders of each of the six funds listed in the table below
iShares Copper and Metals Mining ETF(1) |
iShares Environmental Infrastructure and Industrials ETF(2) |
iShares Global 100 ETF(3) |
iShares Global Infrastructure ETF(3) |
iShares Global Timber & Forestry ETF(3) |
iShares Lithium Miners and Producers ETF(1) |
(2) Statement of operations for the year ended March 31, 2024, and statement of changes in net assets for the year ended March 31, 2024 and for the period November 1, 2022 (commencement of operations) to March 31, 2023.
(3) Statement of operations for the year ended March 31, 2024 and statement of changes in net assets for each of the two years in the period ended March 31, 2024.
Philadelphia, Pennsylvania
May 23, 2024
iShares ETF | Qualified Dividend Income |
Copper and Metals Mining | $118,262 |
Environmental Infrastructure and Industrials | 83,219 |
Global 100 | 80,409,410 |
Global Infrastructure | 141,103,348 |
Global Timber & Forestry | 4,739,539 |
Lithium Miners and Producers | 29,965 |
iShares ETF | Qualified Business Income |
Global 100 | $462,236 |
iShares ETF | Foreign Source Income Earned | Foreign Taxes Paid |
Copper and Metals Mining | $140,647 | $4,281 |
Environmental Infrastructure and Industrials | 68,415 | 5,102 |
Global Infrastructure | 100,713,316 | 5,813,616 |
Global Timber & Forestry | 4,545,277 | 243,171 |
Lithium Miners and Producers | 27,677 | 3,717 |
iShares ETF | Dividends-Received Deduction |
Copper and Metals Mining | 9.91 % |
Environmental Infrastructure and Industrials | 34.96 % |
Global 100 | 67.93 % |
Global Infrastructure | 36.58 % |
Global Timber & Forestry | 26.12 % |
Lithium Miners and Producers | 8.37 % |
Total Cumulative Distributions for the Fiscal Year | % Breakdown of the Total Cumulative Distributions for the Fiscal Year | |||||||
iShares ETF | Net Investment Income | Net Realized Capital Gains | Return of Capital | Total Per Share | Net Investment Income | Net Realized Capital Gains | Return of Capital | Total Per Share |
Copper and Metals Mining(a) | $0.526397 | $— | $0.024593 | $0.550990 | 96% | —% | 4% | 100% |
Global Infrastructure | 1.582304 | — | — | 1.582304 | 100 | — | — | 100 |
Global Timber & Forestry | 1.336399 | — | — | 1.336399 | 100 | — | — | 100 |
Lithium Miners and Producers(a) | 0.096895 | — | 0.021130 | 0.118025 | 82 | — | 18 | 100 |
(a) | The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder's investment in the Fund is returned to the shareholder. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. When distributions exceed total return performance, the difference will incrementally reduce the Fund’s net asset value per share. |
Interested Trustees | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
Robert S. Kapito(a) (1957) | Trustee (since 2009). | President of BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). |
Stephen Cohen(b) (1975) | Trustee (since 2024). | Senior Managing Director, Head of Global Product Solutions of BlackRock, Inc. (since 2024); Senior Managing Director, Head of Europe, Middle East and Africa Regions of BlackRock, Inc. (2021-2024); Head of iShares Index and Wealth in EMEA of BlackRock, Inc. (2017-2021); Global Head of Fixed Income Indexing of BlackRock, Inc. (2016-2017); Chief Investment Strategist for International Fixed Income and iShares of BlackRock, Inc. (2011-2015). | Director of iShares, Inc. (since 2024); Trustee of iShares U.S. ETF Trust (since 2024). |
(a) Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. | |||
(b) Stephen Cohen is deemed to be an "interested person" (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Independent Trustees | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
John E. Kerrigan (1955) | Trustee (since 2005); Independent Board Chair (since 2022). | Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2022). |
Jane D. Carlin (1956) | Trustee (since 2015); Risk Committee Chair (since 2016). | Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016), Chair of the Audit Committee (since 2020) and Director of The Hanover Insurance Group, Inc. (since 2016). |
Richard L. Fagnani (1954) | Trustee (since 2017); Audit Committee Chair (since 2019). | Partner, KPMG LLP (2002-2016); Director of One Generation Away (since 2021). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). |
Independent Trustees (continued) | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
Cecilia H. Herbert (1949) | Trustee (since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2022). | Chair of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York’s public media company (since 2011) and Member of the Audit Committee (since 2018), Investment Committee (since 2011) and Personnel Committee (since 2022); Member of the Wyoming State Investment Funds Committee (since 2022); Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios) (2015-2018); Director of the Jackson Hole Center for the Arts (since 2021). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). |
Drew E. Lawton (1959) | Trustee (since 2017); 15(c) Committee Chair (since 2017). | Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017); Director of Jackson Financial Inc. (since 2021). |
John E. Martinez (1961) | Trustee (since 2003); Securities Lending Committee Chair (since 2019). | Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (2017-2020); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). |
Madhav V. Rajan (1964) | Trustee (since 2011); Fixed-Income Plus Committee Chair (since 2019). | Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Advisory Board Member (since 2016) and Director (since 2020) of C.M. Capital Corporation; Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Director of WellBe Senior Medical (since 2023); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). | Director of iShares, Inc. (since 2011); Trustee of iShares U.S. ETF Trust (since 2011). |
Officers | ||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years |
Jessica Tan (1980) | President (since 2024). | Managing Director of BlackRock, Inc. (since 2015); Head of Global Product Solutions, Americas of BlackRock, Inc. (since 2024) and Head of Sustainable and Transition Solutions of BlackRock, Inc. (2022-2024); Global Head of Corporate Strategy of BlackRock, Inc. (2019-2022); Chief of Staff to the CEO of BlackRock, Inc. (2017-2019). |
Trent Walker (1974) | Treasurer and Chief Financial Officer (since 2020). | Managing Director of BlackRock, Inc. (since 2019); Chief Financial Officer of iShares Delaware Trust Sponsor LLC, BlackRock Funds, BlackRock Funds II, BlackRock Funds IV, BlackRock Funds V and BlackRock Funds VI (since 2021). |
Aaron Wasserman (1974) | Chief Compliance Officer (iShares, Inc. and iShares Trust, since 2023; iShares U.S. ETF Trust, since 2023). | Managing Director of BlackRock, Inc. (since 2018); Chief Compliance Officer of the BlackRock Multi-Asset Complex, the BlackRock Fixed-Income Complex and the Exchange-Traded Fund Complex (since 2023); Deputy Chief Compliance Officer for the BlackRock Multi-Asset Complex, the BlackRock Fixed-Income Complex and the Exchange-Traded Fund Complex (2014-2023). |
Marisa Rolland (1980) | Secretary (since 2022). | Managing Director of BlackRock, Inc. (since 2023); Director of BlackRock, Inc. (2018-2022). |
Rachel Aguirre (1982) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2018); Head of U.S. iShares Product (since 2022); Head of EII U.S. Product Engineering of BlackRock, Inc. (since 2021); Co-Head of EII’s Americas Portfolio Engineering of BlackRock, Inc. (2020-2021); Head of Developed Markets Portfolio Engineering of BlackRock, Inc. (2016-2019). |
Jennifer Hsui (1976) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2009); Co-Head of Index Equity of BlackRock, Inc. (since 2022). |
Officers (continued) | ||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years |
James Mauro (1970) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2010); Head of Fixed Income Index Investments in the Americas and Head of San Francisco Core Portfolio Management of BlackRock, Inc. (since 2020). |
Effective July 1, 2023, Aaron Wasserman replaced Charles Park as Chief Compliance Officer. |
Effective February 1, 2024, Salim Ramji resigned as Trustee of the Trust. |
Effective March 5, 2024, Stephen Cohen replaced Salim Ramji as Trustee of the Trust. |
Effective March 5, 2024, Dominik Rohé resigned as President of the Trust. |
Effective March 5, 2024, Jessica Tan replaced Dominik Rohé as President of the Trust. |
Effective April 8, 2024, Laura Fergerson was appointed as Trustee of the Trust. |
Effective April 8, 2024, James Lam was appointed as Trustee of the Trust. |
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Portfolio Abbreviation | |
ADR | American Depositary Receipt |
JSC | Joint Stock Company |
NVS | Non-Voting Shares |
2024 Annual Report |
iShares Trust |
• iShares Global Comm Services ETF | IXP | NYSE Arca |
• iShares Global Consumer Discretionary ETF | RXI | NYSE Arca |
• iShares Global Consumer Staples ETF | KXI | NYSE Arca |
• iShares Global Energy ETF | IXC | NYSE Arca |
• iShares Global Financials ETF | IXG | NYSE Arca |
• iShares Global Healthcare ETF | IXJ | NYSE Arca |
• iShares Global Industrials ETF | EXI | NYSE Arca |
• iShares Global Materials ETF | MXI | NYSE Arca |
• iShares Global Tech ETF | IXN | NYSE Arca |
• iShares Global Utilities ETF | JXI | NYSE Arca |
President, BlackRock Inc.
Total Returns as of March 31, 2024 | ||
6-Month | 12-Month | |
U.S. large cap equities (S&P 500® Index) | 23.48% | 29.88% |
U.S. small cap equities (Russell 2000® Index) | 19.94 | 19.71 |
International equities (MSCI Europe, Australasia, Far East Index) | 16.81 | 15.32 |
Emerging market equities (MSCI Emerging Markets Index) | 10.42 | 8.15 |
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index) | 2.68 | 5.24 |
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) | 4.88 | (2.44) |
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index) | 5.99 | 1.70 |
Tax-exempt municipal bonds (Bloomberg Municipal Bond Index) | 7.48 | 3.13 |
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index) | 8.73 | 11.15 |
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 33.04 % | 10.09 % | 5.88 % | 33.04 % | 61.74 % | 77.11 % | |
Fund Market | 33.08 | 10.07 | 5.88 | 33.08 | 61.57 | 77.06 | |
Index | 33.12 | 10.31 | 5.90 | 33.12 | 63.35 | 77.48 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,242.10 | $2.24 | $1,000.00 | $1,023.00 | $2.02 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Interactive Media & Services | 53.4 % |
Diversified Telecommunication Services | 16.9 |
Entertainment | 14.6 |
Media | 8.0 |
Wireless Telecommunication Services | 7.1 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 73.5 % |
Japan | 7.3 |
China | 6.8 |
Germany | 2.1 |
Canada | 1.7 |
United Kingdom | 1.6 |
France | 1.3 |
Spain | 1.1 |
Australia | 1.1 |
Other (each representing less than 1%) | 3.5 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 16.88 %(a) | 9.32 % | 8.79 % | 16.88 %(a) | 56.13 % | 132.25 % | |
Fund Market | 16.86 | 9.30 | 8.81 | 16.86 | 56.02 | 132.54 | |
Index | 17.05 | 9.47 | 8.90 | 17.05 | 57.24 | 134.50 |
(AT NET ASSET VALUE)
(a) | The NAV total return presented in the table for the one-year period differs from the same period return disclosed in the financial highlights. The total return in the financial highlights is calculated in the same manner but differs due to certain adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles. |
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,150.80 | $2.15 | $1,000.00 | $1,023.00 | $2.02 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Consumer Discretionary Distribution & Retail | 33.6 % |
Automobiles & Components | 25.5 |
Consumer Services | 21.8 |
Consumer Durables & Apparel | 19.1 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 57.6 % |
Japan | 13.3 |
France | 6.8 |
China | 5.1 |
Germany | 3.6 |
United Kingdom | 2.5 |
Italy | 2.3 |
Switzerland | 1.5 |
Spain | 1.5 |
Australia | 1.3 |
Canada | 1.2 |
Other (each representing less than 1%) | 3.3 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 1.72 % | 5.91 % | 6.01 % | 1.72 % | 33.24 % | 79.27 % | |
Fund Market | 1.53 | 5.89 | 6.02 | 1.53 | 33.14 | 79.49 | |
Index | 1.60 | 5.79 | 5.93 | 1.60 | 32.53 | 77.96 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,090.20 | $2.09 | $1,000.00 | $1,023.00 | $2.02 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Packaged Foods & Meats | 17.6 % |
Consumer Staples Merchandise Retail | 17.3 |
Household Products | 15.7 |
Soft Drinks & Non-alcoholic Beverages | 12.1 |
Personal Care Products | 9.9 |
Tobacco | 8.8 |
Food Retail | 7.3 |
Distillers & Vintners | 4.5 |
Brewers | 4.0 |
Agricultural Products & Services | 1.3 |
Food Distributors | 1.1 |
Other (each representing less than 1%) | 0.4 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 61.3 % |
United Kingdom | 10.9 |
Switzerland | 6.3 |
Japan | 5.4 |
France | 5.0 |
Canada | 2.2 |
Netherlands | 1.6 |
Mexico | 1.5 |
Belgium | 1.4 |
Australia | 1.4 |
Other (each representing less than 1%) | 3.0 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 17.88 % | 10.08 % | 3.79 % | 17.88 % | 61.64 % | 45.08 % | |
Fund Market | 17.82 | 10.11 | 3.80 | 17.82 | 61.84 | 45.26 | |
Index(a) | 17.38 | 9.49 | 3.43 | 17.38 | 57.37 | 40.05 | |
S&P Global 1200 Energy Sector Index™ | 17.42 | 9.50 | 3.43 | 17.42 | 57.41 | 40.09 | |
S&P Global 1200 Energy 4.5/22.5/45 Capped Index(b) | N/A | N/A | N/A | N/A | N/A | N/A |
(AT NET ASSET VALUE)
(a) | Index performance through April 19, 2023 reflects the S&P Global 1200 Energy Sector Index™ performance of the Index. Index performance beginning on April 20, 2023 reflects the performance of the S&P Global 1200 Energy 4.5/22.5/45 Capped Index., which effective as of April 20, 2023, replaced the S&P Global 1200 Energy Sector Index™ as the underlying index of the fund. |
(b) | The inception date of the S&P Global 1200 Energy 4.5/22.5/45 Capped Index was April 20, 2023. The cumulative total return for this index for the period April 20, 2023 through March 31, 2024 was 9.44%. |
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,057.70 | $2.06 | $1,000.00 | $1,023.00 | $2.02 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Integrated Oil & Gas | 53.2 % |
Oil & Gas Exploration & Production | 22.2 |
Oil & Gas Storage & Transportation | 10.2 |
Oil & Gas Refining & Marketing | 8.3 |
Oil & Gas Equipment & Services | 5.5 |
Other (each representing less than 1%) | 0.6 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 60.9 % |
Canada | 11.9 |
United Kingdom | 11.2 |
France | 5.4 |
Brazil | 2.2 |
Australia | 2.1 |
Italy | 1.7 |
Norway | 1.2 |
Japan | 1.0 |
Other (each representing less than 1%) | 2.4 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 28.85 % | 10.02 % | 7.13 % | 28.85 % | 61.20 % | 99.15 % | |
Fund Market | 29.14 | 10.05 | 7.13 | 29.14 | 61.40 | 99.14 | |
Index | 28.91 | 10.02 | 7.16 | 28.91 | 61.21 | 99.63 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,243.40 | $2.24 | $1,000.00 | $1,023.00 | $2.02 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Banks | 39.5 % |
Financial Services | 20.5 |
Insurance | 19.9 |
Capital Markets | 17.8 |
Consumer Finance | 2.3 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 57.5 % |
Canada | 6.5 |
Japan | 5.1 |
United Kingdom | 4.4 |
Australia | 4.2 |
Germany | 2.8 |
Switzerland | 2.8 |
France | 2.0 |
Italy | 1.8 |
Spain | 1.7 |
China | 1.7 |
Sweden | 1.6 |
Netherlands | 1.6 |
Singapore | 1.2 |
Brazil | 1.2 |
Hong Kong | 1.1 |
Other (each representing less than 1%) | 2.8 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 13.22 % | 10.25 % | 9.18 % | 13.22 % | 62.86 % | 140.64 % | |
Fund Market | 13.35 | 10.27 | 9.17 | 13.35 | 63.02 | 140.53 | |
Index | 13.24 | 10.24 | 9.22 | 13.24 | 62.79 | 141.67 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,137.70 | $2.14 | $1,000.00 | $1,023.00 | $2.02 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Pharmaceuticals | 42.1 % |
Health Care Equipment & Supplies | 19.2 |
Health Care Providers & Services | 15.9 |
Biotechnology | 13.4 |
Life Sciences Tools & Services | 9.3 |
Health Care Technology | 0.1 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 72.2 % |
Switzerland | 6.9 |
Denmark | 5.9 |
Japan | 4.1 |
United Kingdom | 4.1 |
France | 2.5 |
Australia | 1.6 |
Germany | 1.3 |
Other (each representing less than 1%) | 1.4 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 24.45 % | 11.25 % | 8.83 % | 24.45 % | 70.42 % | 133.17 % | |
Fund Market | 24.80 | 11.31 | 8.86 | 24.80 | 70.87 | 133.74 | |
Index | 24.61 | 11.31 | 8.84 | 24.61 | 70.87 | 133.31 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,243.80 | $2.24 | $1,000.00 | $1,023.00 | $2.02 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Capital Goods | 68.1 % |
Transportation | 17.8 |
Commercial & Professional Services | 14.1 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 55.8 % |
Japan | 13.6 |
France | 7.3 |
United Kingdom | 4.9 |
Germany | 4.0 |
Canada | 3.6 |
Sweden | 3.2 |
Switzerland | 2.3 |
Netherlands | 1.1 |
Denmark | 1.0 |
Other (each representing less than 1%) | 3.2 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 10.40 % | 10.40 % | 6.55 % | 10.40 % | 64.00 % | 88.67 % | |
Fund Market | 10.22 | 10.40 | 6.55 | 10.22 | 64.03 | 88.60 | |
Index | 10.45 | 10.48 | 6.65 | 10.45 | 64.58 | 90.41 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,158.40 | $2.21 | $1,000.00 | $1,023.00 | $2.07 | 0.41% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Chemicals | 48.7 % |
Metals & Mining | 35.5 |
Construction Materials | 9.0 |
Containers & Packaging | 5.0 |
Paper & Forest Products | 1.8 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 40.7 % |
Australia | 10.2 |
United Kingdom | 7.8 |
Japan | 7.0 |
Canada | 6.8 |
Switzerland | 6.3 |
France | 5.0 |
Germany | 3.6 |
Ireland | 2.9 |
Brazil | 1.9 |
South Korea | 1.6 |
Mexico | 1.3 |
Finland | 1.0 |
Other (each representing less than 1%) | 3.9 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 38.56 %(a) | 22.28 % | 19.26 % | 38.56 %(a) | 173.42 % | 482.10 % | |
Fund Market | 38.44 | 22.25 | 19.26 | 38.44 | 173.04 | 482.12 | |
Index(b) | 38.89 | 22.46 | 19.42 | 38.89 | 175.40 | 489.74 | |
S&P Global 1200 Information Technology Sector Index™ | 43.55 | 23.27 | 19.81 | 43.55 | 184.63 | 509.51 | |
S&P Global 1200 Information Technology 4.5/22.5/45 Capped Index(c) | N/A | N/A | N/A | N/A | N/A | N/A |
(AT NET ASSET VALUE)
(a) | The NAV total return presented in the table for the one-year period differs from the same period return disclosed in the financial highlights. The total return in the financial highlights is calculated in the same manner but differs due to certain adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles. |
(b) | Index performance through April 19, 2023 reflects the S&PGlobal 1200 Information Technology Sector Index™performance of the Index. Index performance beginning on April 20, 2023 reflects the performance of the S&P Global 1200 Information Technology 4.5/22.5/45 Capped Index, which effective as of April 20, 2023, replaced the S&P Global 1200 Information Technology Sector Index™ as the underlying index of the fund. |
(c) | The inception date of the S&P Global 1200 Information Technology 4.5/22.5/45 Capped Index was April 20, 2023. The cumulative total return for this index for the period April 20, 2023 through March 31, 2024 was 10.02%. |
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,298.10 | $2.30 | $1,000.00 | $1,023.00 | $2.02 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Semiconductors & Semiconductor Equipment | 35.8 % |
Software | 32.7 |
Technology Hardware, Storage & Peripherals | 20.0 |
IT Services | 5.0 |
Electronic Equipment, Instruments & Components | 3.9 |
Communications Equipment | 2.6 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 80.6 % |
Taiwan | 5.2 |
Japan | 3.8 |
South Korea | 3.0 |
Netherlands | 2.9 |
Germany | 1.6 |
Canada | 1.2 |
Other (each representing less than 1%) | 1.7 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 1.15 % | 5.05 % | 5.67 % | 1.15 % | 27.93 % | 73.58 % | |
Fund Market | 1.24 | 5.06 | 5.64 | 1.24 | 27.99 | 73.15 | |
Index | 0.35 | 4.56 | 5.28 | 0.35 | 25.00 | 67.27 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,113.70 | $2.17 | $1,000.00 | $1,023.00 | $2.07 | 0.41% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Electric Utilities | 62.4 % |
Multi-Utilities | 28.4 |
Gas Utilities | 4.1 |
Water Utilities | 2.8 |
Independent Power and Renewable Electricity Producers | 2.3 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 64.9 % |
United Kingdom | 6.7 |
Spain | 5.9 |
Italy | 4.8 |
Canada | 3.8 |
Germany | 3.6 |
France | 3.3 |
Japan | 2.7 |
Australia | 1.2 |
Other (each representing less than 1%) | 3.1 |
(a) | Excludes money market funds. |
Security | Shares | Value |
Common Stocks | ||
Australia — 1.1% | ||
CAR Group Ltd. | 25,590 | $601,515 |
SEEK Ltd. | 23,642 | 385,521 |
Telstra Group Ltd. | 777,612 | 1,956,024 |
2,943,060 | ||
Brazil — 0.1% | ||
Telefonica Brasil SA, ADR NVS | 23,142 | 233,040 |
Canada — 1.7% | ||
BCE Inc. | 61,396 | 2,086,344 |
Rogers Communications Inc., Class B, NVS | 25,089 | 1,027,972 |
TELUS Corp. | 98,782 | 1,580,308 |
4,694,624 | ||
China — 6.8% | ||
Baidu Inc.(a) | 152,700 | 2,010,236 |
Kuaishou Technology(a)(b) | 169,600 | 1,067,564 |
NetEase Inc. | 117,200 | 2,428,575 |
Tencent Holdings Ltd. | 335,700 | 13,075,492 |
18,581,867 | ||
Finland — 0.2% | ||
Elisa OYJ | 10,217 | 455,508 |
France — 1.3% | ||
Orange SA | 123,525 | 1,452,656 |
Publicis Groupe SA | 15,687 | 1,710,204 |
Vivendi SE | 40,974 | 446,528 |
3,609,388 | ||
Germany — 2.1% | ||
Deutsche Telekom AG, Registered | 234,912 | 5,702,368 |
Italy — 0.1% | ||
Telecom Italia SpA/Milano(a)(c) | 708,032 | 171,945 |
Japan — 7.2% | ||
Dentsu Group Inc. | 15,500 | 430,384 |
KDDI Corp. | 100,700 | 2,977,369 |
LY Corp. | 179,900 | 455,679 |
Nexon Co. Ltd. | 30,700 | 510,280 |
Nintendo Co. Ltd. | 78,700 | 4,294,235 |
Nippon Telegraph & Telephone Corp. | 3,839,200 | 4,572,880 |
SoftBank Corp. | 190,400 | 2,451,389 |
SoftBank Group Corp. | 70,200 | 4,168,852 |
19,861,068 | ||
Mexico — 0.5% | ||
America Movil SAB de CV | 1,383,752 | 1,291,939 |
Netherlands — 0.9% | ||
Koninklijke KPN NV | 221,172 | 827,272 |
Universal Music Group NV | 51,491 | 1,547,322 |
2,374,594 | ||
Norway — 0.2% | ||
Telenor ASA | 42,809 | 476,138 |
South Korea — 0.5% | ||
NAVER Corp. | 10,087 | 1,401,363 |
Spain — 1.1% | ||
Cellnex Telecom SA(b) | 39,463 | 1,395,992 |
Telefonica SA | 375,066 | 1,656,384 |
3,052,376 | ||
Sweden — 0.2% | ||
Tele2 AB, Class B | 36,856 | 302,641 |
Security | Shares | Value |
Sweden (continued) | ||
Telia Co. AB | 158,610 | $406,510 |
709,151 | ||
Switzerland — 0.4% | ||
Swisscom AG, Registered | 1,708 | 1,045,390 |
Taiwan — 0.4% | ||
Chunghwa Telecom Co. Ltd. | 256,120 | 1,006,073 |
United Kingdom — 1.6% | ||
Auto Trader Group PLC(b) | 61,134 | 539,869 |
BT Group PLC | 386,257 | 534,564 |
Informa PLC | 92,174 | 967,090 |
Rightmove PLC | 54,529 | 377,955 |
Vodafone Group PLC | 1,532,201 | 1,358,946 |
WPP PLC | 71,504 | 677,652 |
4,456,076 | ||
United States — 73.3% | ||
Alphabet Inc., Class A(a) | 242,932 | 36,665,727 |
Alphabet Inc., Class C, NVS(a) | 203,389 | 30,968,009 |
AT&T Inc. | 481,194 | 8,469,014 |
Charter Communications Inc., Class A(a) | 6,672 | 1,939,083 |
Comcast Corp., Class A | 266,670 | 11,560,144 |
Electronic Arts Inc. | 16,373 | 2,172,206 |
Fox Corp., Class A, NVS | 16,095 | 503,291 |
Fox Corp., Class B | 8,715 | 249,423 |
Interpublic Group of Companies Inc. (The) | 25,855 | 843,649 |
Live Nation Entertainment Inc.(a)(c) | 9,549 | 1,009,998 |
Match Group Inc.(a)(c) | 18,113 | 657,140 |
Meta Platforms Inc., Class A | 118,693 | 57,634,948 |
Netflix Inc.(a) | 19,697 | 11,962,579 |
News Corp., Class A, NVS | 25,363 | 664,003 |
News Corp., Class B | 7,666 | 207,442 |
Omnicom Group Inc. | 13,325 | 1,289,327 |
Paramount Global, Class B, NVS | 32,118 | 378,029 |
Take-Two Interactive Software Inc.(a)(c) | 10,671 | 1,584,537 |
T-Mobile U.S. Inc. | 35,145 | 5,736,367 |
Verizon Communications Inc. | 282,678 | 11,861,169 |
Walt Disney Co. (The) | 106,968 | 13,088,604 |
Warner Bros Discovery Inc.(a) | 149,345 | 1,303,782 |
200,748,471 | ||
Total Common Stocks — 99.7% (Cost: $248,431,846) | 272,814,439 | |
Preferred Stocks | ||
Italy — 0.0% | ||
Telecom Italia SpA, Preference Shares, NVS | 411,441 | 101,205 |
Total Preferred Stocks — 0.0% (Cost: $273,520) | 101,205 | |
Total Long-Term Investments — 99.7% (Cost: $248,705,366) | 272,915,644 | |
Short-Term Securities | ||
Money Market Funds — 0.8% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 1,787,186 | 1,787,900 |
Security | Shares | Value |
Money Market Funds (continued) | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(d)(e) | 390,000 | $390,000 |
Total Short-Term Securities — 0.8% (Cost: $2,178,079) | 2,177,900 | |
Total Investments — 100.5% (Cost: $250,883,445) | 275,093,544 | |
Liabilities in Excess of Other Assets — (0.5)% | (1,416,028 ) | |
Net Assets — 100.0% | $273,677,516 |
(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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $1,024,044 | $764,797 (a) | $— | $(952 ) | $11 | $1,787,900 | 1,787,186 | $4,934 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 540,000 | — | (150,000 )(a) | — | — | 390,000 | 390,000 | 36,520 | — |
$(952 ) | $11 | $2,177,900 | $41,454 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
Mini TOPIX Index | 6 | 06/13/24 | $109 | $2,579 |
E-Mini S&P Communication Services Select Sector Index | 6 | 06/21/24 | 649 | 11,791 |
Euro STOXX 50 Index | 1 | 06/21/24 | 54 | 82 |
$14,452 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $14,452 | $— | $— | $— | $14,452 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $231,412 | $— | $— | $— | $231,412 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(11,312 ) | $— | $— | $— | $(11,312 ) |
Futures contracts: | |
Average notional value of contracts — long | $780,429 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $206,324,218 | $66,490,221 | $— | $272,814,439 |
Preferred Stocks | 101,205 | — | — | 101,205 |
Short-Term Securities | ||||
Money Market Funds | 2,177,900 | — | — | 2,177,900 |
$208,603,323 | $66,490,221 | $— | $275,093,544 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $11,791 | $2,661 | $— | $14,452 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 1.3% | ||
Aristocrat Leisure Ltd. | 29,195 | $817,487 |
Lottery Corp. Ltd. (The) | 102,008 | 342,095 |
Wesfarmers Ltd. | 51,771 | 2,307,685 |
3,467,267 | ||
Brazil — 0.1% | ||
Lojas Renner SA | 43,356 | 146,785 |
Canada — 1.2% | ||
Canadian Tire Corp. Ltd., Class A, NVS | 2,371 | 236,479 |
Dollarama Inc. | 12,831 | 977,469 |
Gildan Activewear Inc. | 7,742 | 287,321 |
Magna International Inc. | 12,168 | 662,860 |
Restaurant Brands International Inc. | 14,256 | 1,132,123 |
3,296,252 | ||
Chile — 0.0% | ||
Falabella SA(a) | 34,310 | 90,056 |
China — 5.1% | ||
Alibaba Group Holding Ltd. | 678,900 | 6,139,175 |
ANTA Sports Products Ltd. | 54,600 | 582,189 |
BYD Co. Ltd., Class H | 43,000 | 1,101,017 |
JD.com Inc. | 112,150 | 1,538,348 |
Li Auto Inc.(a) | 53,200 | 807,816 |
Meituan, Class B(a)(b) | 198,100 | 2,445,365 |
Trip.com Group Ltd.(a) | 25,400 | 1,126,271 |
13,740,181 | ||
Denmark — 0.3% | ||
GN Store Nord A/S(a) | 6,865 | 181,571 |
Pandora A/S | 3,827 | 617,701 |
799,272 | ||
France — 6.8% | ||
Accor SA | 8,180 | 381,895 |
Cie. Generale des Etablissements Michelin SCA | 32,580 | 1,248,575 |
Hermes International SCA | 1,546 | 3,951,236 |
Kering SA | 3,153 | 1,248,850 |
LVMH Moet Hennessy Louis Vuitton SE | 11,911 | 10,717,471 |
Renault SA | 8,635 | 435,723 |
Sodexo SA | 3,649 | 312,804 |
18,296,554 | ||
Germany — 2.8% | ||
adidas AG | 7,555 | 1,688,004 |
Bayerische Motoren Werke AG | 13,226 | 1,526,000 |
Continental AG | 4,945 | 356,954 |
Delivery Hero SE, Class A(a)(b) | 9,072 | 259,408 |
Mercedes-Benz Group AG | 36,740 | 2,925,860 |
Puma SE | 4,594 | 207,907 |
Volkswagen AG | 1,331 | 203,321 |
Zalando SE(a)(b) | 9,955 | 284,666 |
7,452,120 | ||
Ireland — 0.6% | ||
Flutter Entertainment PLC(a) | 8,078 | 1,610,216 |
Italy — 2.3% | ||
Ferrari NV | 5,751 | 2,507,639 |
Moncler SpA | 9,416 | 702,629 |
Stellantis NV | 100,935 | 2,867,465 |
6,077,733 | ||
Japan — 13.2% | ||
Aisin Corp. | 8,300 | 339,161 |
Bandai Namco Holdings Inc. | 30,600 | 567,788 |
Security | Shares | Value |
Japan (continued) | ||
Bridgestone Corp. | 26,700 | $1,183,337 |
Denso Corp. | 99,200 | 1,899,846 |
Fast Retailing Co. Ltd. | 9,200 | 2,850,399 |
Honda Motor Co. Ltd. | 228,129 | 2,822,797 |
Isuzu Motors Ltd. | 28,400 | 383,895 |
Nissan Motor Co. Ltd. | 102,400 | 405,758 |
Nitori Holdings Co. Ltd. | 4,000 | 606,208 |
Oriental Land Co. Ltd. | 53,100 | 1,701,096 |
Pan Pacific International Holdings Corp. | 24,600 | 651,942 |
Panasonic Holdings Corp. | 112,000 | 1,068,901 |
Rakuten Group Inc.(a) | 66,400 | 376,893 |
Sekisui House Ltd. | 30,500 | 694,719 |
Shimano Inc. | 3,700 | 550,425 |
Sony Group Corp. | 57,700 | 4,947,817 |
Subaru Corp. | 27,788 | 629,338 |
Sumitomo Electric Industries Ltd. | 35,700 | 553,183 |
Suzuki Motor Corp. | 90,000 | 1,027,554 |
Toyota Motor Corp. | 469,300 | 11,861,535 |
Yamaha Motor Co. Ltd. | 47,439 | 436,987 |
35,559,579 | ||
Netherlands — 0.8% | ||
Prosus NV | 69,515 | 2,175,845 |
South Korea — 0.8% | ||
Hyundai Motor Co. | 6,273 | 1,103,849 |
Kia Corp. | 11,556 | 960,410 |
2,064,259 | ||
Spain — 1.5% | ||
Amadeus IT Group SA | 20,553 | 1,319,434 |
Industria de Diseno Textil SA | 51,405 | 2,588,564 |
3,907,998 | ||
Sweden — 0.6% | ||
Evolution AB(b) | 8,795 | 1,092,373 |
H & M Hennes & Mauritz AB, Class B | 28,065 | 457,630 |
1,550,003 | ||
Switzerland — 1.5% | ||
Cie. Financiere Richemont SA, Class A, Registered | 24,526 | 3,733,848 |
Swatch Group AG (The), Bearer | 1,327 | 309,566 |
Swatch Group AG (The), Registered | 2,399 | 108,780 |
4,152,194 | ||
United Kingdom — 2.4% | ||
Barratt Developments PLC | 44,895 | 269,463 |
Berkeley Group Holdings PLC | 5,248 | 315,302 |
Burberry Group PLC | 16,346 | 250,034 |
Compass Group PLC | 81,454 | 2,389,261 |
Entain PLC | 29,045 | 291,466 |
InterContinental Hotels Group PLC | 7,859 | 816,643 |
Kingfisher PLC | 83,610 | 263,144 |
Next PLC | 5,811 | 677,356 |
Pearson PLC | 31,777 | 418,423 |
Persimmon PLC | 14,592 | 241,943 |
Taylor Wimpey PLC | 162,996 | 281,799 |
Whitbread PLC | 8,724 | 364,732 |
6,579,566 | ||
United States — 57.4% | ||
Airbnb Inc.(a) | 19,871 | 3,277,920 |
Amazon.com Inc.(a) | 151,635 | 27,351,921 |
Aptiv PLC(a) | 12,768 | 1,016,971 |
AutoZone Inc.(a) | 789 | 2,486,652 |
Bath & Body Works Inc. | 10,440 | 522,209 |
Best Buy Co. Inc. | 8,704 | 713,989 |
Security | Shares | Value |
United States (continued) | ||
Booking Holdings Inc. | 1,596 | $5,790,096 |
BorgWarner Inc. | 10,688 | 371,301 |
Caesars Entertainment Inc.(a) | 9,796 | 428,477 |
CarMax Inc.(a) | 7,200 | 627,192 |
Carnival Corp.(a) | 45,964 | 751,052 |
Chipotle Mexican Grill Inc., Class A(a) | 1,251 | 3,636,369 |
Darden Restaurants Inc. | 5,498 | 918,991 |
Deckers Outdoor Corp.(a) | 1,171 | 1,102,215 |
Domino's Pizza Inc. | 1,593 | 791,530 |
DR Horton Inc. | 13,627 | 2,242,323 |
eBay Inc. | 23,678 | 1,249,725 |
Etsy Inc.(a) | 5,525 | 379,678 |
Expedia Group Inc.(a) | 6,030 | 830,632 |
Ford Motor Co. | 178,053 | 2,364,544 |
Garmin Ltd. | 6,983 | 1,039,559 |
General Motors Co. | 52,668 | 2,388,494 |
Genuine Parts Co. | 6,396 | 990,932 |
Hasbro Inc. | 5,938 | 335,616 |
Hilton Worldwide Holdings Inc. | 11,538 | 2,461,171 |
Home Depot Inc. (The) | 31,368 | 12,032,765 |
Las Vegas Sands Corp. | 16,874 | 872,386 |
Lennar Corp., Class A | 11,307 | 1,944,578 |
LKQ Corp. | 12,208 | 652,029 |
Lowe's Companies Inc. | 26,282 | 6,694,814 |
Lululemon Athletica Inc.(a) | 5,262 | 2,055,600 |
Marriott International Inc./MD, Class A | 11,255 | 2,839,749 |
McDonald's Corp. | 33,136 | 9,342,695 |
MGM Resorts International(a) | 12,609 | 595,271 |
Mohawk Industries Inc.(a) | 2,384 | 312,042 |
Nike Inc., Class B | 55,638 | 5,228,859 |
Norwegian Cruise Line Holdings Ltd.(a) | 19,463 | 407,360 |
NVR Inc.(a) | 146 | 1,182,594 |
O'Reilly Automotive Inc.(a) | 2,695 | 3,042,332 |
Pool Corp. | 1,756 | 708,546 |
PulteGroup Inc. | 9,656 | 1,164,707 |
Ralph Lauren Corp., Class A | 1,766 | 331,584 |
Ross Stores Inc. | 15,359 | 2,254,087 |
Royal Caribbean Cruises Ltd.(a) | 10,763 | 1,496,165 |
Starbucks Corp. | 51,653 | 4,720,568 |
Tapestry Inc. | 10,545 | 500,677 |
Tesla Inc.(a) | 122,167 | 21,475,737 |
TJX Companies Inc. (The) | 52,101 | 5,284,083 |
Tractor Supply Co. | 4,932 | 1,290,803 |
Ulta Beauty Inc.(a) | 2,225 | 1,163,408 |
VF Corp. | 15,346 | 235,408 |
Security | Shares | Value |
United States (continued) | ||
Wynn Resorts Ltd. | 4,394 | $449,199 |
Yum! Brands Inc. | 12,820 | 1,777,493 |
154,125,098 | ||
Total Common Stocks — 98.7% (Cost: $275,288,292) | 265,090,978 | |
Preferred Stocks | ||
Germany — 0.8% | ||
Bayerische Motoren Werke AG, Preference Shares, NVS | 2,706 | 290,360 |
Dr Ing hc F Porsche AG, Preference Shares, NVS(b) | 4,126 | 410,363 |
Porsche Automobil Holding SE, Preference Shares, NVS | 7,026 | 372,194 |
Volkswagen AG, Preference Shares, NVS | 8,373 | 1,110,461 |
2,183,378 | ||
South Korea — 0.1% | ||
Hyundai Motor Co. | ||
Preference Shares, NVS | 990 | 116,318 |
Series 2, Preference Shares, NVS | 1,686 | 196,494 |
312,812 | ||
Total Preferred Stocks — 0.9% (Cost: $3,416,401) | 2,496,190 | |
Total Long-Term Investments — 99.6% (Cost: $278,704,693) | 267,587,168 | |
Short-Term Securities | ||
Money Market Funds — 0.1% | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(c)(d) | 290,000 | 290,000 |
Total Short-Term Securities — 0.1% (Cost: $290,000) | 290,000 | |
Total Investments — 99.7% (Cost: $278,994,693) | 267,877,168 | |
Other Assets Less Liabilities — 0.3% | 692,902 | |
Net Assets — 100.0% | $268,570,070 |
(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) | Affiliate of the Fund. |
(d) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares(a) | $1,455,589 | $— | $(1,458,127 )(b) | $2,718 | $(180 ) | $— | — | $12,953 (c) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 260,000 | 30,000 (b) | — | — | — | 290,000 | 290,000 | 17,324 | — |
$2,718 | $(180 ) | $290,000 | $30,277 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
TOPIX Index | 1 | 06/13/24 | $182 | $6,396 |
E-Mini Consumer Discretionary Select Sector Index | 2 | 06/21/24 | 376 | 7,122 |
Euro STOXX 50 Index | 7 | 06/21/24 | 382 | 4,916 |
$18,434 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $18,434 | $— | $— | $— | $18,434 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $191,019 | $— | $— | $— | $191,019 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(17,133 ) | $— | $— | $— | $(17,133 ) |
Futures contracts: | |
Average notional value of contracts — long | $818,978 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $157,568,135 | $107,522,843 | $— | $265,090,978 |
Preferred Stocks | — | 2,496,190 | — | 2,496,190 |
Short-Term Securities | ||||
Money Market Funds | 290,000 | — | — | 290,000 |
$157,858,135 | $110,019,033 | $— | $267,877,168 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $7,122 | $11,312 | $— | $18,434 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 1.4% | ||
Coles Group Ltd. | 300,726 | $3,319,779 |
Endeavour Group Ltd. | 304,556 | 1,093,487 |
Treasury Wine Estates Ltd. | 184,066 | 1,493,071 |
Woolworths Group Ltd. | 274,140 | 5,925,819 |
11,832,156 | ||
Belgium — 1.4% | ||
Anheuser-Busch InBev SA/NV | 202,957 | 12,354,800 |
Brazil — 0.4% | ||
Ambev SA, ADR | 989,904 | 2,454,962 |
Natura & Co. Holding SA | 189,224 | 674,587 |
3,129,549 | ||
Canada — 2.1% | ||
Alimentation Couche-Tard Inc. | 164,986 | 9,416,461 |
George Weston Ltd. | 13,409 | 1,811,658 |
Loblaw Companies Ltd. | 33,148 | 3,673,186 |
Metro Inc./CN | 51,420 | 2,760,520 |
Saputo Inc. | 54,721 | 1,076,605 |
18,738,430 | ||
Chile — 0.1% | ||
Cencosud SA | 292,071 | 506,773 |
Denmark — 0.3% | ||
Carlsberg A/S, Class B | 20,494 | 2,806,552 |
Finland — 0.1% | ||
Kesko OYJ, Class B | 61,304 | 1,146,018 |
France — 5.0% | ||
Carrefour SA | 119,297 | 2,046,458 |
Danone SA | 141,916 | 9,174,134 |
L'Oreal SA | 51,932 | 24,593,521 |
Pernod Ricard SA | 44,956 | 7,277,659 |
43,091,772 | ||
Germany — 0.6% | ||
Beiersdorf AG | 22,288 | 3,245,067 |
Henkel AG & Co. KGaA | 22,485 | 1,620,121 |
4,865,188 | ||
Ireland — 0.3% | ||
Kerry Group PLC, Class A | 34,905 | 2,990,870 |
Japan — 5.4% | ||
Aeon Co. Ltd. | 197,217 | 4,678,362 |
Ajinomoto Co. Inc. | 118,000 | 4,406,546 |
Asahi Group Holdings Ltd. | 113,798 | 4,178,647 |
Japan Tobacco Inc. | 246,900 | 6,582,826 |
Kao Corp. | 104,600 | 3,908,717 |
Kikkoman Corp. | 218,500 | 2,804,341 |
Kirin Holdings Co. Ltd. | 182,596 | 2,539,235 |
MEIJI Holdings Co. Ltd. | 61,900 | 1,351,442 |
Nissin Foods Holdings Co. Ltd. | 56,100 | 1,546,571 |
Seven & i Holdings Co. Ltd. | 539,611 | 7,865,305 |
Shiseido Co. Ltd. | 89,800 | 2,464,151 |
Unicharm Corp. | 100,000 | 3,183,625 |
Yakult Honsha Co. Ltd. | 68,940 | 1,409,028 |
46,918,796 | ||
Mexico — 1.4% | ||
Arca Continental SAB de CV | 105,958 | 1,157,506 |
Fomento Economico Mexicano SAB de CV | 412,248 | 5,388,127 |
Grupo Bimbo SAB de CV, Series A | 337,101 | 1,597,190 |
Security | Shares | Value |
Mexico (continued) | ||
Wal-Mart de Mexico SAB de CV | 1,096,253 | $4,413,388 |
12,556,211 | ||
Netherlands — 1.6% | ||
Heineken Holding NV | 22,623 | 1,825,765 |
Heineken NV | 57,243 | 5,518,659 |
Koninklijke Ahold Delhaize NV | 217,543 | 6,509,274 |
13,853,698 | ||
Norway — 0.3% | ||
Mowi ASA | 99,800 | 1,833,195 |
Orkla ASA | 167,701 | 1,184,425 |
3,017,620 | ||
Portugal — 0.1% | ||
Jeronimo Martins SGPS SA | 61,731 | 1,224,761 |
Sweden — 0.4% | ||
Essity AB, Class B | 136,751 | 3,248,399 |
Switzerland — 6.3% | ||
Barry Callebaut AG, Registered | 816 | 1,185,322 |
Bunge Global SA | 32,950 | 3,378,034 |
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS | 226 | 2,704,953 |
Chocoladefabriken Lindt & Spruengli AG, Registered | 25 | 3,015,974 |
Nestle SA, Registered | 416,341 | 44,236,214 |
54,520,497 | ||
United Kingdom — 10.9% | ||
Associated British Foods PLC | 75,557 | 2,383,888 |
British American Tobacco PLC | 504,980 | 15,326,686 |
Diageo PLC | 502,219 | 18,583,214 |
Haleon PLC | 1,418,285 | 5,943,714 |
Imperial Brands PLC | 200,204 | 4,475,479 |
J Sainsbury PLC | 401,177 | 1,369,793 |
Marks & Spencer Group PLC | 449,954 | 1,506,837 |
Ocado Group PLC(a) | 162,189 | 930,131 |
Reckitt Benckiser Group PLC | 165,885 | 9,456,280 |
Tesco PLC | 1,591,422 | 5,960,625 |
Unilever PLC | 568,081 | 28,518,689 |
94,455,336 | ||
United States — 60.9% | ||
Altria Group Inc. | 398,294 | 17,373,584 |
Archer-Daniels-Midland Co. | 120,303 | 7,556,231 |
Brown-Forman Corp., Class B | 41,063 | 2,119,672 |
Campbell Soup Co. | 44,581 | 1,981,625 |
Church & Dwight Co. Inc. | 55,622 | 5,801,931 |
Clorox Co. (The) | 28,047 | 4,294,276 |
Coca-Cola Co. (The) | 645,853 | 39,513,287 |
Colgate-Palmolive Co. | 185,966 | 16,746,238 |
Conagra Brands Inc. | 107,262 | 3,179,246 |
Constellation Brands Inc., Class A | 36,270 | 9,856,735 |
Costco Wholesale Corp. | 91,682 | 67,168,984 |
Dollar General Corp. | 49,695 | 7,755,402 |
Dollar Tree Inc.(a) | 46,904 | 6,245,268 |
Estee Lauder Companies Inc. (The), Class A | 52,702 | 8,124,013 |
General Mills Inc. | 128,398 | 8,984,008 |
Hershey Co. (The) | 33,812 | 6,576,434 |
Hormel Foods Corp. | 64,998 | 2,267,780 |
JM Smucker Co. (The) | 23,817 | 2,997,846 |
Kellanova | 59,804 | 3,426,171 |
Kenvue Inc. | 388,489 | 8,336,974 |
Keurig Dr Pepper Inc. | 234,832 | 7,202,297 |
Kimberly-Clark Corp. | 76,112 | 9,845,087 |
Security | Shares | Value |
United States (continued) | ||
Kraft Heinz Co. (The) | 180,066 | $6,644,435 |
Kroger Co. (The) | 149,740 | 8,554,646 |
Lamb Weston Holdings Inc. | 32,524 | 3,464,782 |
McCormick & Co. Inc./MD, NVS | 56,882 | 4,369,106 |
Molson Coors Beverage Co., Class B | 42,064 | 2,828,804 |
Mondelez International Inc., Class A | 304,114 | 21,287,980 |
Monster Beverage Corp.(a) | 166,952 | 9,896,915 |
PepsiCo Inc. | 235,954 | 41,294,310 |
Philip Morris International Inc. | 350,637 | 32,125,362 |
Procter & Gamble Co. (The) | 486,174 | 78,881,732 |
Sysco Corp. | 112,543 | 9,136,241 |
Target Corp. | 104,271 | 18,477,864 |
Tyson Foods Inc., Class A | 64,633 | 3,795,896 |
Walgreens Boots Alliance Inc. | 160,916 | 3,490,268 |
Walmart Inc. | 634,977 | 38,206,566 |
529,807,996 | ||
Total Common Stocks — 99.0% (Cost: $898,664,203) | 861,065,422 | |
Preferred Stocks | ||
Germany — 0.3% | ||
Henkel AG & Co. KGaA, Preference Shares, NVS | 36,384 | 2,924,400 |
Total Preferred Stocks — 0.3% (Cost: $3,464,998) | 2,924,400 | |
Total Long-Term Investments — 99.3% (Cost: $902,129,201) | 863,989,822 |
Security | Shares | Value |
Short-Term Securities | ||
Money Market Funds — 0.1% | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(b)(c) | 930,000 | $930,000 |
Total Short-Term Securities — 0.1% (Cost: $930,000) | 930,000 | |
Total Investments — 99.4% (Cost: $903,059,201) | 864,919,822 | |
Other Assets Less Liabilities — 0.6% | 4,826,536 | |
Net Assets — 100.0% | $869,746,358 |
(a) | Non-income producing security. |
(b) | Affiliate of the Fund. |
(c) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares(a) | $— | $— | $(1,244 )(b) | $1,244 | $— | $— | — | $3,910 (c) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 2,050,000 | — | (1,120,000 )(b) | — | — | 930,000 | 930,000 | 95,299 | — |
$1,244 | $— | $930,000 | $99,209 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
E-Mini Consumer Staples Index | 57 | 06/21/24 | $4,436 | $70,646 |
Euro STOXX 50 Index | 3 | 06/21/24 | 164 | 3,525 |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
FTSE 100 Index | 9 | 06/21/24 | $907 | $25,754 |
$99,925 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $99,925 | $— | $— | $— | $99,925 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $(9,289 ) | $— | $— | $— | $(9,289 ) |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(234,437 ) | $— | $— | $— | $(234,437 ) |
Futures contracts: | |
Average notional value of contracts — long | $4,769,811 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $555,560,782 | $305,504,640 | $— | $861,065,422 |
Preferred Stocks | — | 2,924,400 | — | 2,924,400 |
Short-Term Securities | ||||
Money Market Funds | 930,000 | — | — | 930,000 |
$556,490,782 | $308,429,040 | $— | $864,919,822 |
Level 1 | Level 2 | Level 3 | Total | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $70,646 | $29,279 | $— | $99,925 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 2.1% | ||
Ampol Ltd. | 279,546 | $7,251,494 |
Santos Ltd. | 3,804,587 | 19,262,256 |
Woodside Energy Group Ltd. | 2,225,234 | 44,354,184 |
70,867,934 | ||
Austria — 0.2% | ||
OMV AG | 164,702 | 7,800,699 |
Brazil — 1.0% | ||
Petroleo Brasileiro SA, ADR | 2,174,014 | 33,066,753 |
Canada — 11.8% | ||
Cameco Corp. | 507,314 | 21,962,196 |
Canadian Natural Resources Ltd. | 1,256,305 | 95,835,514 |
Cenovus Energy Inc. | 1,552,891 | 31,045,209 |
Enbridge Inc. | 2,488,691 | 89,934,978 |
Imperial Oil Ltd. | 188,044 | 12,970,323 |
Pembina Pipeline Corp. | 641,838 | 22,654,221 |
Suncor Energy Inc. | 1,511,752 | 55,791,579 |
TC Energy Corp. | 1,213,510 | 48,771,536 |
Tourmaline Oil Corp. | 385,704 | 18,033,025 |
396,998,581 | ||
Chile — 0.1% | ||
Empresas Copec SA | 427,003 | 3,067,734 |
China — 0.6% | ||
PetroChina Co. Ltd., Class H | 24,658,000 | 21,147,232 |
Colombia — 0.1% | ||
Ecopetrol SA, ADR | 285,107 | 3,375,667 |
Finland — 0.4% | ||
Neste OYJ | 505,997 | 13,720,211 |
France — 5.4% | ||
TotalEnergies SE | 2,624,690 | 180,550,799 |
Italy — 1.6% | ||
Eni SpA | 2,804,686 | 44,409,482 |
Tenaris SA, NVS | 538,767 | 10,652,085 |
55,061,567 | ||
Japan — 1.0% | ||
ENEOS Holdings Inc. | 3,560,120 | 17,152,128 |
Inpex Corp. | 1,088,900 | 16,552,572 |
33,704,700 | ||
Norway — 1.2% | ||
Aker BP ASA | 363,004 | 9,104,683 |
Equinor ASA | 1,158,180 | 31,055,890 |
40,160,573 | ||
Portugal — 0.3% | ||
Galp Energia SGPS SA | 493,198 | 8,153,730 |
Spain — 0.7% | ||
Repsol SA | 1,423,114 | 23,753,489 |
United Kingdom — 11.2% | ||
BP PLC | 19,742,566 | 123,853,498 |
Shell PLC | 7,585,407 | 251,679,794 |
375,533,292 |
Security | Shares | Value |
United States — 60.7% | ||
APA Corp. | 422,594 | $14,528,782 |
Baker Hughes Co., Class A | 1,169,408 | 39,175,168 |
Chevron Corp. | 2,029,346 | 320,109,038 |
ConocoPhillips | 1,378,305 | 175,430,661 |
Coterra Energy Inc. | 878,832 | 24,501,836 |
Devon Energy Corp. | 748,630 | 37,566,253 |
Diamondback Energy Inc. | 209,670 | 41,550,304 |
EOG Resources Inc. | 681,718 | 87,150,829 |
EQT Corp. | 482,187 | 17,874,672 |
Exxon Mobil Corp. | 4,646,162 | 540,069,871 |
Halliburton Co. | 1,043,396 | 41,130,670 |
Hess Corp. | 322,009 | 49,151,454 |
Kinder Morgan Inc. | 2,264,158 | 41,524,658 |
Marathon Oil Corp. | 686,374 | 19,451,839 |
Marathon Petroleum Corp. | 430,201 | 86,685,502 |
Occidental Petroleum Corp. | 770,303 | 50,061,992 |
ONEOK Inc. | 682,066 | 54,681,231 |
Phillips 66 | 503,529 | 82,246,427 |
Pioneer Natural Resources Co. | 273,532 | 71,802,150 |
Schlumberger NV | 1,671,385 | 91,608,612 |
Targa Resources Corp. | 260,312 | 29,152,341 |
Valero Energy Corp. | 397,999 | 67,934,449 |
Williams Companies Inc. (The) | 1,423,176 | 55,461,169 |
2,038,849,908 | ||
Total Common Stocks — 98.4% (Cost: $2,958,122,208) | 3,305,812,869 | |
Preferred Stocks | ||
Brazil — 1.2% | ||
Petroleo Brasileiro SA, Preference Shares, ADR | 2,689,197 | 40,069,035 |
Total Preferred Stocks — 1.2% (Cost: $42,413,317) | 40,069,035 | |
Total Long-Term Investments — 99.6% (Cost: $3,000,535,525) | 3,345,881,904 | |
Short-Term Securities | ||
Money Market Funds — 0.2% | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(a)(b) | 7,840,000 | 7,840,000 |
Total Short-Term Securities — 0.2% (Cost: $7,840,000) | 7,840,000 | |
Total Investments — 99.8% (Cost: $3,008,375,525) | 3,353,721,904 | |
Other Assets Less Liabilities — 0.2% | 6,513,401 | |
Net Assets — 100.0% | $3,360,235,305 |
(a) | Affiliate of the Fund. |
(b) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares(a) | $— | $— | $(1,737 )(b) | $1,737 | $— | $— | — | $6,218 (c) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 3,710,000 | 4,130,000 (b) | — | — | — | 7,840,000 | 7,840,000 | 209,666 | — |
$1,737 | $— | $7,840,000 | $215,884 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
E-Mini Energy Select Sector Index | 116 | 06/21/24 | $11,605 | $629,626 |
FTSE 100 Index | 18 | 06/21/24 | 1,814 | 58,285 |
$687,911 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $687,911 | $— | $— | $— | $687,911 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $1,844,170 | $— | $— | $— | $1,844,170 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $514,826 | $— | $— | $— | $514,826 |
Futures contracts: | |
Average notional value of contracts — long | $10,005,286 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $2,475,358,643 | $830,454,226 | $— | $3,305,812,869 |
Preferred Stocks | 40,069,035 | — | — | 40,069,035 |
Short-Term Securities | ||||
Money Market Funds | 7,840,000 | — | — | 7,840,000 |
$2,523,267,678 | $830,454,226 | $— | $3,353,721,904 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $629,626 | $58,285 | $— | $687,911 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 4.1% | ||
ANZ Group Holdings Ltd. | 119,296 | $2,286,439 |
ASX Ltd. | 7,627 | 329,966 |
Commonwealth Bank of Australia | 66,403 | 5,208,612 |
Insurance Australia Group Ltd. | 96,348 | 401,899 |
Macquarie Group Ltd. | 14,178 | 1,844,239 |
Medibank Pvt Ltd. | 108,302 | 265,353 |
National Australia Bank Ltd. | 123,370 | 2,793,353 |
QBE Insurance Group Ltd. | 59,320 | 701,204 |
Suncorp Group Ltd. | 49,679 | 530,270 |
Westpac Banking Corp. | 138,360 | 2,353,248 |
16,714,583 | ||
Austria — 0.1% | ||
Erste Group Bank AG | 14,043 | 625,864 |
Belgium — 0.4% | ||
Ageas SA/NV | 6,706 | 310,659 |
Groupe Bruxelles Lambert NV | 3,817 | 288,558 |
KBC Group NV | 13,313 | 998,104 |
1,597,321 | ||
Brazil — 0.6% | ||
B3 SA - Brasil, Bolsa, Balcao | 229,051 | 547,578 |
Banco do Brasil SA | 56,351 | 636,159 |
NU Holdings Ltd.(a) | 95,779 | 1,142,644 |
2,326,381 | ||
Canada — 6.4% | ||
Bank of Montreal | 28,761 | 2,808,049 |
Bank of Nova Scotia (The) | 48,140 | 2,490,251 |
Brookfield Asset Management Ltd. | 13,678 | 574,566 |
Brookfield Corp., Class A | 56,743 | 2,374,363 |
Canadian Imperial Bank of Commerce | 36,948 | 1,873,109 |
Intact Financial Corp. | 7,026 | 1,141,339 |
Manulife Financial Corp. | 71,461 | 1,784,744 |
National Bank of Canada | 13,536 | 1,139,800 |
Power Corp. of Canada | 21,656 | 607,209 |
Royal Bank of Canada | 55,785 | 5,626,479 |
Sun Life Financial Inc. | 23,176 | 1,264,581 |
Toronto-Dominion Bank (The) | 70,372 | 4,247,101 |
25,931,591 | ||
Chile — 0.1% | ||
Banco de Chile | 1,692,820 | 188,292 |
Banco Santander Chile, ADR | 6,487 | 128,637 |
316,929 | ||
China — 1.7% | ||
Bank of China Ltd., Class H | 3,305,000 | 1,355,085 |
China Construction Bank Corp., Class H | 3,900,720 | 2,353,979 |
China Merchants Bank Co. Ltd., Class H | 132,000 | 523,184 |
Industrial & Commercial Bank of China Ltd., Class H | 2,809,000 | 1,411,897 |
Ping An Insurance Group Co. of China Ltd., Class H | 250,500 | 1,063,543 |
6,707,688 | ||
Colombia — 0.0% | ||
Bancolombia SA, ADR | 4,471 | 152,998 |
Denmark — 0.3% | ||
Danske Bank A/S | 26,795 | 804,289 |
Tryg A/S | 13,519 | 278,685 |
1,082,974 | ||
Finland — 0.2% | ||
Sampo OYJ, Class A | 18,401 | 784,917 |
Security | Shares | Value |
France — 2.0% | ||
AXA SA | 69,313 | $2,603,102 |
BNP Paribas SA | 40,138 | 2,857,620 |
Credit Agricole SA | 44,157 | 658,731 |
Edenred SE | 9,843 | 525,564 |
Euronext NV(b) | 3,922 | 373,257 |
Societe Generale SA | 27,833 | 745,730 |
Worldline SA/France(a)(b) | 9,797 | 121,204 |
7,885,208 | ||
Germany — 2.8% | ||
Allianz SE, Registered | 15,532 | 4,655,206 |
Commerzbank AG | 41,086 | 564,693 |
Deutsche Bank AG, Registered | 80,437 | 1,266,902 |
Deutsche Boerse AG | 7,501 | 1,536,129 |
Hannover Rueck SE | 2,402 | 657,731 |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered | 5,429 | 2,650,115 |
11,330,776 | ||
Hong Kong — 1.1% | ||
AIA Group Ltd. | 448,800 | 3,018,886 |
Hong Kong Exchanges & Clearing Ltd. | 47,500 | 1,384,067 |
4,402,953 | ||
Ireland — 0.1% | ||
Bank of Ireland Group PLC | 39,578 | 403,896 |
Italy — 1.8% | ||
Assicurazioni Generali SpA | 43,637 | 1,104,602 |
Banco BPM SpA | 59,718 | 397,320 |
FinecoBank Banca Fineco SpA | 24,001 | 359,458 |
Intesa Sanpaolo SpA | 638,468 | 2,317,980 |
Mediobanca Banca di Credito Finanziario SpA | 25,057 | 373,386 |
Nexi SpA(a)(b) | 33,545 | 212,535 |
UniCredit SpA | 67,900 | 2,578,793 |
7,344,074 | ||
Japan — 5.1% | ||
Dai-ichi Life Holdings Inc. | 39,400 | 1,004,879 |
Daiwa Securities Group Inc. | 57,200 | 435,198 |
Japan Exchange Group Inc. | 20,900 | 566,086 |
Japan Post Holdings Co. Ltd. | 80,300 | 809,032 |
Mitsubishi UFJ Financial Group Inc. | 489,200 | 4,977,167 |
Mizuho Financial Group Inc. | 101,110 | 1,999,480 |
MS&AD Insurance Group Holdings Inc. | 52,800 | 932,318 |
Nomura Holdings Inc. | 117,000 | 748,860 |
ORIX Corp. | 46,500 | 1,017,036 |
Resona Holdings Inc. | 93,700 | 577,609 |
Sompo Holdings Inc. | 39,300 | 823,730 |
Sumitomo Mitsui Financial Group Inc. | 53,100 | 3,104,901 |
Sumitomo Mitsui Trust Holdings Inc. | 28,754 | 619,551 |
T&D Holdings Inc. | 22,300 | 387,668 |
Tokio Marine Holdings Inc. | 79,100 | 2,479,488 |
20,483,003 | ||
Mexico — 0.3% | ||
Grupo Financiero Banorte SAB de CV, Class O | 98,092 | 1,041,873 |
Netherlands — 1.5% | ||
ABN AMRO Bank NV, CVA(b) | 17,291 | 295,888 |
Adyen NV(a)(b) | 1,235 | 2,086,083 |
Aegon Ltd. | 48,211 | 294,127 |
ASR Nederland NV | 5,866 | 287,491 |
EXOR NV, NVS | 3,953 | 439,915 |
ING Groep NV | 138,709 | 2,283,605 |
Security | Shares | Value |
Netherlands (continued) | ||
NN Group NV | 11,252 | $519,449 |
6,206,558 | ||
Norway — 0.2% | ||
DNB Bank ASA | 35,175 | 699,193 |
Peru — 0.1% | ||
Credicorp Ltd. | 2,704 | 458,139 |
Singapore — 1.2% | ||
DBS Group Holdings Ltd. | 72,600 | 1,937,535 |
Oversea-Chinese Banking Corp. Ltd. | 154,000 | 1,538,747 |
United Overseas Bank Ltd. | 61,500 | 1,337,011 |
4,813,293 | ||
South Korea — 0.4% | ||
KB Financial Group Inc. | 14,790 | 772,889 |
Shinhan Financial Group Co. Ltd. | 19,407 | 684,583 |
1,457,472 | ||
Spain — 1.7% | ||
Banco Bilbao Vizcaya Argentaria SA | 231,484 | 2,756,625 |
Banco de Sabadell SA | 215,714 | 339,356 |
Banco Santander SA | 627,510 | 3,065,028 |
CaixaBank SA | 161,412 | 783,264 |
6,944,273 | ||
Sweden — 1.6% | ||
EQT AB | 14,313 | 453,142 |
Industrivarden AB, Class A | 6,149 | 211,463 |
Industrivarden AB, Class C | 5,905 | 203,052 |
Investor AB, Class B | 72,436 | 1,817,731 |
Nordea Bank Abp | 139,927 | 1,559,415 |
Skandinaviska Enskilda Banken AB, Class A | 65,858 | 892,213 |
Svenska Handelsbanken AB, Class A | 62,224 | 629,083 |
Swedbank AB, Class A | 36,584 | 726,109 |
6,492,208 | ||
Switzerland — 2.8% | ||
Baloise Holding AG, Registered | 1,819 | 285,229 |
Julius Baer Group Ltd. | 8,126 | 471,295 |
Partners Group Holding AG | 869 | 1,241,354 |
Swiss Life Holding AG, Registered | 1,174 | 823,434 |
Swiss Re AG | 11,400 | 1,466,438 |
UBS Group AG, Registered | 121,418 | 3,738,572 |
Zurich Insurance Group AG | 5,771 | 3,117,577 |
11,143,899 | ||
Taiwan — 0.5% | ||
Cathay Financial Holding Co. Ltd. | 388,521 | 585,491 |
CTBC Financial Holding Co. Ltd. | 784,000 | 793,531 |
Fubon Financial Holding Co. Ltd. | 334,400 | 723,854 |
2,102,876 | ||
United Kingdom — 4.4% | ||
3i Group PLC | 38,597 | 1,368,549 |
abrdn PLC | 73,778 | 131,426 |
Admiral Group PLC | 10,290 | 368,770 |
Aviva PLC | 107,152 | 672,346 |
Barclays PLC | 571,504 | 1,324,544 |
Hargreaves Lansdown PLC | 13,821 | 128,273 |
HSBC Holdings PLC | 757,578 | 5,921,855 |
Intermediate Capital Group PLC | 11,581 | 299,965 |
Legal & General Group PLC | 238,200 | 765,259 |
Lloyds Banking Group PLC | 2,541,132 | 1,661,889 |
London Stock Exchange Group PLC | 15,424 | 1,845,544 |
M&G PLC | 93,375 | 259,895 |
NatWest Group PLC, NVS | 214,804 | 719,451 |
Security | Shares | Value |
United Kingdom (continued) | ||
Phoenix Group Holdings PLC | 37,490 | $261,772 |
Prudential PLC | 108,317 | 1,015,859 |
Schroders PLC | 36,154 | 171,762 |
St. James's Place PLC | 21,404 | 125,570 |
Standard Chartered PLC | 88,226 | 747,955 |
17,790,684 | ||
United States — 57.1% | ||
Aflac Inc. | 20,974 | 1,800,828 |
Allstate Corp. (The) | 10,411 | 1,801,207 |
American Express Co. | 22,699 | 5,168,335 |
American International Group Inc. | 27,691 | 2,164,605 |
Ameriprise Financial Inc. | 4,006 | 1,756,391 |
Aon PLC, Class A | 7,958 | 2,655,744 |
Arch Capital Group Ltd.(a) | 14,792 | 1,367,373 |
Arthur J Gallagher & Co. | 8,596 | 2,149,344 |
Assurant Inc. | 2,098 | 394,928 |
Bank of America Corp. | 272,999 | 10,352,122 |
Bank of New York Mellon Corp. (The) | 30,322 | 1,747,154 |
Berkshire Hathaway Inc., Class B(a) | 72,144 | 30,337,993 |
BlackRock Inc.(c) | 5,544 | 4,622,033 |
Blackstone Inc., NVS | 28,524 | 3,747,198 |
Brown & Brown Inc. | 9,407 | 823,489 |
Capital One Financial Corp. | 15,024 | 2,236,923 |
Cboe Global Markets Inc. | 4,189 | 769,645 |
Charles Schwab Corp. (The) | 59,010 | 4,268,783 |
Chubb Ltd. | 16,102 | 4,172,511 |
Cincinnati Financial Corp. | 6,203 | 770,227 |
Citigroup Inc. | 75,464 | 4,772,343 |
Citizens Financial Group Inc. | 18,650 | 676,809 |
CME Group Inc. | 14,205 | 3,058,194 |
Comerica Inc. | 5,168 | 284,188 |
Corpay Inc.(a) | 2,836 | 875,019 |
Discover Financial Services | 9,860 | 1,292,547 |
Everest Group Ltd. | 1,699 | 675,353 |
FactSet Research Systems Inc. | 1,513 | 687,492 |
Fidelity National Information Services Inc. | 23,452 | 1,739,669 |
Fifth Third Bancorp. | 26,840 | 998,716 |
Fiserv Inc.(a) | 23,798 | 3,803,396 |
Franklin Resources Inc. | 11,901 | 334,537 |
Global Payments Inc. | 10,258 | 1,371,084 |
Globe Life Inc. | 3,446 | 401,011 |
Goldman Sachs Group Inc. (The) | 12,931 | 5,401,149 |
Hartford Financial Services Group Inc. (The) | 11,868 | 1,222,997 |
Huntington Bancshares Inc./OH | 57,539 | 802,669 |
Intercontinental Exchange Inc. | 22,705 | 3,120,348 |
Invesco Ltd. | 17,896 | 296,895 |
Jack Henry & Associates Inc. | 2,884 | 501,037 |
JPMorgan Chase & Co. | 114,633 | 22,960,990 |
KeyCorp | 36,786 | 581,587 |
Loews Corp. | 7,296 | 571,204 |
M&T Bank Corp. | 6,523 | 948,705 |
MarketAxess Holdings Inc. | 1,489 | 326,463 |
Marsh & McLennan Companies Inc. | 19,440 | 4,004,251 |
Mastercard Inc., Class A | 32,714 | 15,754,081 |
MetLife Inc. | 24,524 | 1,817,474 |
Moody's Corp. | 6,218 | 2,443,861 |
Morgan Stanley | 49,841 | 4,693,029 |
MSCI Inc., Class A | 3,128 | 1,753,088 |
Nasdaq Inc. | 15,064 | 950,538 |
Northern Trust Corp. | 8,161 | 725,676 |
PayPal Holdings Inc.(a) | 42,508 | 2,847,611 |
PNC Financial Services Group Inc. (The) | 15,824 | 2,557,158 |
Security | Shares | Value |
United States (continued) | ||
Principal Financial Group Inc. | 8,586 | $741,058 |
Progressive Corp. (The) | 23,208 | 4,799,879 |
Prudential Financial Inc. | 14,325 | 1,681,755 |
Raymond James Financial Inc. | 7,422 | 953,133 |
Regions Financial Corp. | 36,516 | 768,297 |
S&P Global Inc. | 12,781 | 5,437,676 |
State Street Corp. | 12,128 | 937,737 |
Synchrony Financial | 16,486 | 710,876 |
T Rowe Price Group Inc. | 8,756 | 1,067,532 |
Travelers Companies Inc. (The) | 9,021 | 2,076,093 |
Truist Financial Corp. | 53,012 | 2,066,408 |
U.S. Bancorp. | 61,750 | 2,760,225 |
Visa Inc., Class A(d) | 62,713 | 17,501,944 |
W R Berkley Corp. | 8,015 | 708,847 |
Wells Fargo & Co. | 142,701 | 8,270,950 |
Willis Towers Watson PLC | 4,119 | 1,132,725 |
229,973,137 | ||
Total Common Stocks — 98.6% (Cost: $364,229,795) | 397,214,761 | |
Preferred Stocks | ||
Brazil — 0.6% | ||
Banco Bradesco SA, Preference Shares, ADR | 209,193 | 598,292 |
Itau Unibanco Holding SA, Preference Shares, ADR | 191,057 | 1,324,025 |
Itausa SA, Preference Shares, NVS | 223,215 | 467,312 |
2,389,629 | ||
Total Preferred Stocks — 0.6% (Cost: $2,789,048) | 2,389,629 | |
Total Long-Term Investments — 99.2% (Cost: $367,018,843) | 399,604,390 |
Security | Shares | Value |
Short-Term Securities | ||
Money Market Funds — 4.5% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(c)(e)(f) | 17,671,998 | $17,679,067 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(c)(e) | 510,000 | 510,000 |
Total Short-Term Securities — 4.5% (Cost: $18,189,120) | 18,189,067 | |
Total Investments — 103.7% (Cost: $385,207,963) | 417,793,457 | |
Liabilities in Excess of Other Assets — (3.7)% | (14,881,403 ) | |
Net Assets — 100.0% | $402,912,054 |
(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) | Affiliate of the Fund. |
(d) | All or a portion of this security is on loan. |
(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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $778,304 | $16,900,172 (a) | $— | $571 | $20 | $17,679,067 | 17,671,998 | $19,831 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 590,000 | — | (80,000 )(a) | — | — | 510,000 | 510,000 | 46,054 | — |
BlackRock Inc. | 5,195,048 | 290,171 | (1,934,942 ) | (313,383 ) | 1,385,139 | 4,622,033 | 5,544 | 136,402 | — |
$(312,812 ) | $1,385,159 | $22,811,100 | $202,287 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
E-Mini Financial Select Sector Index | 18 | 06/21/24 | $2,365 | $71,601 |
Euro STOXX 50 Index | 7 | 06/21/24 | 382 | 7,610 |
FTSE 100 Index | 5 | 06/21/24 | 504 | 19,694 |
$98,905 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $98,905 | $— | $— | $— | $98,905 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $448,042 | $— | $— | $— | $448,042 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $73,159 | $— | $— | $— | $73,159 |
Futures contracts: | |
Average notional value of contracts — long | $2,929,714 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $258,970,883 | $138,243,878 | $— | $397,214,761 |
Preferred Stocks | 2,389,629 | — | — | 2,389,629 |
Level 1 | Level 2 | Level 3 | Total | |
Short-Term Securities | ||||
Money Market Funds | $18,189,067 | $— | $— | $18,189,067 |
$279,549,579 | $138,243,878 | $— | $417,793,457 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $71,601 | $27,304 | $— | $98,905 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 1.6% | ||
Cochlear Ltd. | 35,307 | $7,765,106 |
CSL Ltd. | 261,399 | 49,045,613 |
Ramsay Health Care Ltd. | 99,237 | 3,653,321 |
Sonic Healthcare Ltd. | 259,548 | 4,973,663 |
65,437,703 | ||
Belgium — 0.5% | ||
Argenx SE(a) | 32,030 | 12,628,564 |
UCB SA | 64,915 | 8,013,552 |
20,642,116 | ||
Brazil — 0.1% | ||
Rede D'Or Sao Luiz SA(b) | 552,765 | 2,789,505 |
Denmark — 5.9% | ||
Coloplast A/S, Class B | 66,763 | 9,014,139 |
Genmab A/S(a) | 35,563 | 10,662,802 |
Novo Nordisk A/S | 1,744,317 | 223,749,401 |
243,426,342 | ||
France — 2.5% | ||
EssilorLuxottica SA | 154,632 | 34,979,540 |
Eurofins Scientific SE | 70,263 | 4,475,781 |
Sanofi SA | 602,250 | 58,589,543 |
Sartorius Stedim Biotech | 15,195 | 4,334,016 |
102,378,880 | ||
Germany — 1.2% | ||
Bayer AG, Registered | 530,122 | 16,234,753 |
Fresenius Medical Care AG & Co. KGaA | 106,954 | 4,109,670 |
Fresenius SE & Co. KGaA | 221,748 | 5,979,833 |
Merck KGaA | 69,584 | 12,270,119 |
Siemens Healthineers AG(b) | 151,878 | 9,288,486 |
47,882,861 | ||
Japan — 4.1% | ||
Astellas Pharma Inc. | 979,275 | 10,520,101 |
Chugai Pharmaceutical Co. Ltd. | 348,100 | 13,302,776 |
Daiichi Sankyo Co. Ltd. | 1,052,700 | 33,495,728 |
Eisai Co. Ltd. | 164,200 | 6,763,196 |
Hoya Corp. | 189,700 | 23,725,939 |
M3 Inc. | 237,200 | 3,413,622 |
Olympus Corp. | 684,700 | 9,858,523 |
Ono Pharmaceutical Co. Ltd. | 279,300 | 4,576,312 |
Otsuka Holdings Co. Ltd. | 302,500 | 12,565,327 |
Shionogi & Co. Ltd. | 157,800 | 8,063,857 |
Sysmex Corp. | 268,800 | 4,796,706 |
Takeda Pharmaceutical Co. Ltd. | 865,492 | 24,072,687 |
Terumo Corp. | 809,000 | 14,803,608 |
169,958,382 | ||
Netherlands — 0.4% | ||
Koninklijke Philips NV(a) | 499,304 | 9,993,043 |
QIAGEN NV, NVS | 119,665 | 5,114,189 |
15,107,232 | ||
South Korea — 0.3% | ||
Celltrion Inc. | 86,421 | 11,801,359 |
Spain — 0.0% | ||
Grifols SA(a)(c) | 154,651 | 1,391,076 |
Sweden — 0.1% | ||
Getinge AB, Class B | 119,250 | 2,398,463 |
Switzerland — 6.8% | ||
Alcon Inc. | 270,710 | 22,390,806 |
Security | Shares | Value |
Switzerland (continued) | ||
Lonza Group AG, Registered | 40,295 | $24,080,224 |
Novartis AG, Registered | 1,127,049 | 109,164,151 |
Roche Holding AG, Bearer | 14,492 | 3,907,976 |
Roche Holding AG, NVS | 380,647 | 97,186,360 |
Sandoz Group AG(a) | 241,578 | 7,292,210 |
Sonova Holding AG, Registered | 25,839 | 7,482,794 |
Straumann Holding AG | 62,628 | 9,992,775 |
281,497,296 | ||
United Kingdom — 4.0% | ||
AstraZeneca PLC | 838,798 | 112,687,290 |
GSK PLC | 2,239,560 | 48,084,197 |
Smith & Nephew PLC | 475,357 | 5,950,985 |
166,722,472 | ||
United States — 72.0% | ||
Abbott Laboratories | 939,372 | 106,769,022 |
AbbVie Inc. | 958,962 | 174,626,980 |
Agilent Technologies Inc. | 158,562 | 23,072,357 |
Align Technology Inc.(a) | 38,451 | 12,608,852 |
Amgen Inc. | 289,485 | 82,306,375 |
Baxter International Inc. | 273,615 | 11,694,305 |
Becton Dickinson and Co. | 156,142 | 38,637,338 |
Biogen Inc.(a) | 78,674 | 16,964,475 |
Bio-Rad Laboratories Inc., Class A(a) | 11,215 | 3,878,932 |
Bio-Techne Corp. | 85,466 | 6,015,952 |
Boston Scientific Corp.(a) | 792,694 | 54,291,612 |
Bristol-Myers Squibb Co. | 1,125,800 | 61,052,134 |
Cardinal Health Inc. | 134,511 | 15,051,781 |
Catalent Inc.(a) | 97,411 | 5,498,851 |
Cencora Inc. | 89,734 | 21,804,465 |
Centene Corp.(a) | 289,206 | 22,696,887 |
Charles River Laboratories International Inc.(a) | 27,579 | 7,472,530 |
Cigna Group (The) | 158,272 | 57,482,808 |
Cooper Companies Inc. (The) | 107,538 | 10,910,805 |
CVS Health Corp. | 685,379 | 54,665,829 |
Danaher Corp. | 355,848 | 88,862,363 |
DaVita Inc.(a)(c) | 29,366 | 4,053,976 |
Dentsply Sirona Inc. | 114,740 | 3,808,221 |
Dexcom Inc.(a)(c) | 208,633 | 28,937,397 |
Edwards Lifesciences Corp.(a) | 328,174 | 31,360,307 |
Elevance Health Inc. | 127,134 | 65,924,064 |
Eli Lilly & Co. | 431,478 | 335,672,625 |
GE HealthCare Technologies Inc., NVS(a) | 229,144 | 20,831,481 |
Gilead Sciences Inc. | 682,706 | 50,008,214 |
HCA Healthcare Inc. | 107,174 | 35,745,744 |
Henry Schein Inc.(a)(c) | 70,296 | 5,308,754 |
Hologic Inc.(a) | 131,628 | 10,261,719 |
Humana Inc. | 66,242 | 22,967,426 |
IDEXX Laboratories Inc.(a)(c) | 44,939 | 24,263,914 |
Illumina Inc.(a) | 85,424 | 11,730,424 |
Incyte Corp.(a) | 103,753 | 5,910,808 |
Insulet Corp.(a) | 37,882 | 6,492,975 |
Intuitive Surgical Inc.(a) | 190,642 | 76,083,316 |
IQVIA Holdings Inc.(a) | 98,565 | 24,926,103 |
Johnson & Johnson | 1,228,624 | 194,356,031 |
Laboratory Corp. of America Holdings | 48,708 | 10,640,750 |
McKesson Corp. | 73,375 | 39,391,369 |
Medtronic PLC | 718,730 | 62,637,319 |
Merck & Co. Inc. | 1,385,430 | 182,807,488 |
Mettler-Toledo International Inc.(a) | 11,680 | 15,549,467 |
Moderna Inc.(a)(c) | 178,996 | 19,073,814 |
Molina Healthcare Inc.(a)(c) | 31,525 | 12,951,416 |
Security | Shares | Value |
United States (continued) | ||
Pfizer Inc. | 3,059,506 | $84,901,291 |
Quest Diagnostics Inc. | 64,487 | 8,583,865 |
Regeneron Pharmaceuticals Inc.(a) | 57,998 | 55,822,495 |
ResMed Inc. | 79,607 | 15,764,574 |
Revvity Inc. | 66,225 | 6,953,625 |
STERIS PLC | 53,504 | 12,028,769 |
Stryker Corp. | 182,968 | 65,478,758 |
Teleflex Inc. | 25,139 | 5,685,688 |
Thermo Fisher Scientific Inc. | 209,064 | 121,510,087 |
UnitedHealth Group Inc. | 500,472 | 247,583,498 |
Universal Health Services Inc., Class B | 32,836 | 5,991,257 |
Vertex Pharmaceuticals Inc.(a) | 139,478 | 58,303,199 |
Viatris Inc. | 659,055 | 7,869,117 |
Waters Corp.(a) | 31,882 | 10,974,741 |
West Pharmaceutical Services Inc. | 39,930 | 15,800,700 |
Zimmer Biomet Holdings Inc. | 112,742 | 14,879,689 |
Zoetis Inc. | 250,710 | 42,422,639 |
2,958,613,767 | ||
Total Common Stocks — 99.5% (Cost: $3,432,675,777) | 4,090,047,454 | |
Preferred Stocks | ||
Germany — 0.1% | ||
Sartorius AG, Preference Shares, NVS | 14,451 | 5,738,638 |
Total Preferred Stocks — 0.1% (Cost: $5,207,009) | 5,738,638 | |
Total Long-Term Investments — 99.6% (Cost: $3,437,882,786) | 4,095,786,092 |
Security | Shares | Value |
Short-Term Securities | ||
Money Market Funds — 0.6% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 14,587,037 | $14,592,872 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(d)(e) | 8,430,000 | 8,430,000 |
Total Short-Term Securities — 0.6% (Cost: $23,020,398) | 23,022,872 | |
Total Investments — 100.2% (Cost: $3,460,903,184) | 4,118,808,964 | |
Liabilities in Excess of Other Assets — (0.2)% | (8,448,772 ) | |
Net Assets — 100.0% | $4,110,360,192 |
(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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $28,986,449 | $— | $(14,396,332 )(a) | $5,636 | $(2,881 ) | $14,592,872 | 14,587,037 | $106,228 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 5,900,000 | 2,530,000 (a) | — | — | — | 8,430,000 | 8,430,000 | 310,112 | — |
$5,636 | $(2,881 ) | $23,022,872 | $416,340 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
E-Mini Health Care Select Sector Index | 91 | 06/21/24 | $13,753 | $168,449 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $168,449 | $— | $— | $— | $168,449 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $1,425,320 | $— | $— | $— | $1,425,320 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(312,998 ) | $— | $— | $— | $(312,998 ) |
Futures contracts: | |
Average notional value of contracts — long | $12,601,543 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $2,961,403,272 | $1,128,644,182 | $— | $4,090,047,454 |
Preferred Stocks | — | 5,738,638 | — | 5,738,638 |
Short-Term Securities | ||||
Money Market Funds | 23,022,872 | — | — | 23,022,872 |
$2,984,426,144 | $1,134,382,820 | $— | $4,118,808,964 |
Level 1 | Level 2 | Level 3 | Total | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $168,449 | $— | $— | $168,449 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 0.8% | ||
Brambles Ltd. | 113,737 | $1,196,980 |
Computershare Ltd. | 46,666 | 794,857 |
Qantas Airways Ltd.(a) | 145,134 | 515,246 |
Transurban Group | 252,739 | 2,192,540 |
4,699,623 | ||
Brazil — 0.3% | ||
CCR SA | 82,637 | 227,707 |
Localiza Rent a Car SA | 70,335 | 766,822 |
WEG SA | 119,996 | 913,955 |
1,908,484 | ||
Canada — 3.6% | ||
CAE Inc.(a) | 28,179 | 581,866 |
Canadian National Railway Co. | 47,399 | 6,241,600 |
Canadian Pacific Kansas City Ltd. | 75,695 | 6,673,991 |
Thomson Reuters Corp. | 12,296 | 1,913,548 |
Waste Connections Inc. | 20,923 | 3,597,017 |
WSP Global Inc. | 10,046 | 1,674,346 |
20,682,368 | ||
Chile — 0.1% | ||
Sociedad Quimica y Minera de Chile SA, ADR(b) | 11,906 | 585,299 |
Denmark — 1.0% | ||
AP Moller - Maersk A/S, Class A | 227 | 290,858 |
AP Moller - Maersk A/S, Class B, NVS | 386 | 503,284 |
DSV A/S | 14,704 | 2,390,203 |
Vestas Wind Systems A/S(a) | 82,619 | 2,304,541 |
5,488,886 | ||
Finland — 0.5% | ||
Kone OYJ, Class B | 32,528 | 1,515,385 |
Metso OYJ | 58,466 | 694,510 |
Wartsila OYJ Abp | 40,284 | 612,217 |
2,822,112 | ||
France — 7.2% | ||
Airbus SE | 50,534 | 9,309,817 |
Alstom SA | 23,345 | 355,506 |
Bouygues SA | 15,777 | 644,094 |
Bureau Veritas SA | 23,366 | 713,444 |
Cie. de Saint-Gobain | 41,125 | 3,191,864 |
Eiffage SA | 6,090 | 691,167 |
Getlink SE | 26,080 | 444,048 |
Legrand SA | 21,824 | 2,311,090 |
Safran SA | 28,500 | 6,454,443 |
Schneider Electric SE | 43,739 | 9,888,355 |
Teleperformance SE | 5,175 | 502,672 |
Thales SA | 8,015 | 1,366,400 |
Vinci SA | 41,755 | 5,358,360 |
41,231,260 | ||
Germany — 4.0% | ||
Brenntag SE | 12,060 | 1,016,429 |
Daimler Truck Holding AG | 41,831 | 2,119,775 |
Deutsche Post AG, Registered | 76,493 | 3,296,649 |
GEA Group AG | 12,585 | 532,095 |
MTU Aero Engines AG | 4,579 | 1,161,353 |
Rheinmetall AG | 3,683 | 2,071,396 |
Siemens AG, Registered | 61,343 | 11,712,763 |
Siemens Energy AG(a) | 41,255 | 757,184 |
22,667,644 | ||
Hong Kong — 0.4% | ||
CK Hutchison Holdings Ltd. | 216,020 | 1,039,628 |
Security | Shares | Value |
Hong Kong (continued) | ||
Techtronic Industries Co. Ltd. | 109,500 | $1,487,871 |
2,527,499 | ||
Ireland — 0.4% | ||
Kingspan Group PLC | 12,891 | 1,174,066 |
Ryanair Holdings PLC, ADR(b) | 7,419 | 1,080,132 |
2,254,198 | ||
Italy — 0.2% | ||
Prysmian SpA | 24,071 | 1,255,397 |
Japan — 13.6% | ||
AGC Inc. | 18,000 | 653,082 |
ANA Holdings Inc. | 40,300 | 842,240 |
Central Japan Railway Co. | 84,400 | 2,096,101 |
Dai Nippon Printing Co. Ltd. | 21,500 | 658,451 |
Daifuku Co. Ltd. | 31,100 | 745,448 |
Daikin Industries Ltd. | 23,800 | 3,249,667 |
East Japan Railway Co. | 91,800 | 1,761,196 |
FANUC Corp. | 76,600 | 2,136,869 |
Hankyu Hanshin Holdings Inc. | 21,100 | 605,385 |
Hitachi Ltd. | 75,600 | 6,908,361 |
ITOCHU Corp. | 119,000 | 5,112,192 |
Japan Airlines Co. Ltd. | 35,900 | 681,659 |
Kajima Corp. | 38,600 | 792,252 |
Kintetsu Group Holdings Co. Ltd. | 16,100 | 468,940 |
Komatsu Ltd. | 79,000 | 2,337,671 |
Kubota Corp. | 86,100 | 1,350,886 |
Makita Corp. | 23,200 | 659,356 |
Marubeni Corp. | 137,100 | 2,374,523 |
Mitsubishi Corp. | 340,800 | 7,876,303 |
Mitsubishi Electric Corp. | 174,200 | 2,915,924 |
Mitsubishi Heavy Industries Ltd. | 274,000 | 2,621,806 |
Mitsui & Co. Ltd. | 123,800 | 5,787,842 |
Mitsui OSK Lines Ltd. | 29,900 | 912,147 |
Nidec Corp. | 42,500 | 1,762,443 |
Nippon Yusen KK | 41,200 | 1,131,108 |
Obayashi Corp. | 59,700 | 709,858 |
Odakyu Electric Railway Co. Ltd. | 30,000 | 413,545 |
Recruit Holdings Co. Ltd. | 138,300 | 6,127,481 |
Secom Co. Ltd. | 16,900 | 1,226,145 |
SG Holdings Co. Ltd. | 40,700 | 515,423 |
SMC Corp. | 4,900 | 2,764,383 |
Sumitomo Corp. | 100,000 | 2,408,794 |
Taisei Corp. | 15,200 | 554,025 |
Tokyu Corp. | 51,400 | 625,890 |
TOPPAN Holdings Inc. | 27,300 | 684,329 |
Toyota Industries Corp. | 15,200 | 1,590,393 |
Toyota Tsusho Corp. | 19,200 | 1,318,480 |
West Japan Railway Co. | 40,600 | 846,111 |
Yamato Holdings Co. Ltd. | 27,100 | 390,037 |
Yaskawa Electric Corp. | 21,600 | 919,613 |
77,536,359 | ||
Netherlands — 1.1% | ||
Ferrovial SE | 40,440 | 1,601,094 |
IMCD NV | 4,667 | 821,439 |
Randstad NV | 10,088 | 532,703 |
Wolters Kluwer NV | 20,179 | 3,159,825 |
6,115,061 | ||
South Korea — 0.2% | ||
LG Energy Solution(a) | 3,289 | 979,796 |
Spain — 0.3% | ||
ACS Actividades de Construccion y Servicios SA | 16,510 | 691,413 |
Security | Shares | Value |
Spain (continued) | ||
Aena SME SA(c) | 6,004 | $1,182,508 |
1,873,921 | ||
Sweden — 3.2% | ||
Alfa Laval AB | 23,656 | 929,546 |
Assa Abloy AB, Class B | 81,080 | 2,326,858 |
Atlas Copco AB, Class A | 209,994 | 3,546,494 |
Atlas Copco AB, Class B | 126,127 | 1,862,889 |
Epiroc AB | 51,176 | 960,704 |
Epiroc AB, Class B | 31,892 | 540,089 |
Nibe Industrier AB, Class B | 127,494 | 626,939 |
Sandvik AB | 88,184 | 1,957,752 |
Skanska AB, Class B | 29,804 | 530,766 |
SKF AB, Class B | 31,216 | 637,269 |
Trelleborg AB, Class B | 18,908 | 676,112 |
Volvo AB, Class B | 129,022 | 3,496,683 |
18,092,101 | ||
Switzerland — 2.3% | ||
ABB Ltd., Registered | 131,461 | 6,098,515 |
Adecco Group AG, Registered | 14,197 | 561,666 |
Geberit AG, Registered | 2,736 | 1,616,932 |
Kuehne + Nagel International AG, Registered | 4,563 | 1,269,511 |
Schindler Holding AG, Participation Certificates, NVS | 3,306 | 832,180 |
Schindler Holding AG, Registered | 1,645 | 401,392 |
SGS SA | 12,409 | 1,204,696 |
VAT Group AG(c) | 2,195 | 1,133,923 |
13,118,815 | ||
United Kingdom — 4.9% | ||
Ashtead Group PLC | 36,608 | 2,607,557 |
BAE Systems PLC | 252,648 | 4,306,491 |
Bunzl PLC | 27,643 | 1,063,636 |
DCC PLC | 8,286 | 602,857 |
Experian PLC | 74,995 | 3,267,753 |
IMI PLC | 20,921 | 479,274 |
Intertek Group PLC | 13,009 | 818,888 |
Melrose Industries PLC | 116,017 | 985,088 |
RELX PLC | 157,382 | 6,787,166 |
Rentokil Initial PLC | 205,461 | 1,221,570 |
Rolls-Royce Holdings PLC(a) | 695,478 | 3,741,924 |
Smiths Group PLC | 28,418 | 589,063 |
Spirax-Sarco Engineering PLC | 5,926 | 751,867 |
Weir Group PLC (The) | 21,428 | 547,362 |
27,770,496 | ||
United States — 55.4% | ||
3M Co. | 45,086 | 4,782,272 |
A O Smith Corp. | 10,045 | 898,626 |
Allegion PLC | 7,142 | 962,099 |
American Airlines Group Inc.(a)(b) | 53,430 | 820,151 |
AMETEK Inc. | 18,747 | 3,428,826 |
Automatic Data Processing Inc. | 33,509 | 8,368,538 |
Axon Enterprise Inc.(a) | 5,857 | 1,832,538 |
Boeing Co. (The)(a) | 46,961 | 9,063,003 |
Broadridge Financial Solutions Inc. | 9,514 | 1,949,038 |
Builders FirstSource Inc.(a) | 10,095 | 2,105,312 |
Carrier Global Corp. | 68,150 | 3,961,559 |
Caterpillar Inc. | 41,527 | 15,216,739 |
CH Robinson Worldwide Inc. | 9,539 | 726,299 |
Cintas Corp. | 7,040 | 4,836,691 |
Copart Inc.(a) | 70,974 | 4,110,814 |
CSX Corp. | 161,199 | 5,975,647 |
Cummins Inc. | 11,120 | 3,276,508 |
Dayforce Inc.(a)(b) | 12,755 | 844,509 |
Security | Shares | Value |
United States (continued) | ||
Deere & Co. | 21,241 | $8,724,528 |
Delta Air Lines Inc. | 52,123 | 2,495,128 |
Dover Corp. | 11,433 | 2,025,813 |
Eaton Corp. PLC | 32,572 | 10,184,613 |
Emerson Electric Co. | 46,635 | 5,289,342 |
Equifax Inc. | 9,998 | 2,674,665 |
Expeditors International of Washington Inc. | 11,733 | 1,426,381 |
Fastenal Co. | 46,695 | 3,602,052 |
FedEx Corp. | 18,788 | 5,443,635 |
Fortive Corp. | 28,718 | 2,470,322 |
Generac Holdings Inc.(a)(b) | 5,011 | 632,088 |
General Dynamics Corp. | 18,641 | 5,265,896 |
General Electric Co. | 88,778 | 15,583,202 |
Honeywell International Inc. | 53,777 | 11,037,729 |
Howmet Aerospace Inc. | 32,431 | 2,219,253 |
Hubbell Inc., Class B | 4,329 | 1,796,751 |
Huntington Ingalls Industries Inc. | 3,446 | 1,004,406 |
IDEX Corp. | 6,182 | 1,508,532 |
Illinois Tool Works Inc. | 22,241 | 5,967,928 |
Ingersoll Rand Inc. | 33,065 | 3,139,522 |
Jacobs Solutions Inc., NVS | 10,291 | 1,582,035 |
JB Hunt Transport Services Inc. | 6,683 | 1,331,588 |
Johnson Controls International PLC | 55,592 | 3,631,269 |
L3Harris Technologies Inc. | 15,667 | 3,338,638 |
Leidos Holdings Inc. | 11,242 | 1,473,714 |
Lockheed Martin Corp. | 17,618 | 8,013,900 |
Masco Corp. | 18,058 | 1,424,415 |
Nordson Corp. | 4,440 | 1,218,958 |
Norfolk Southern Corp. | 18,380 | 4,684,511 |
Northrop Grumman Corp. | 11,638 | 5,570,645 |
Old Dominion Freight Line Inc. | 14,532 | 3,187,013 |
Otis Worldwide Corp. | 33,233 | 3,299,040 |
PACCAR Inc. | 42,680 | 5,287,625 |
Parker-Hannifin Corp. | 10,438 | 5,801,336 |
Paychex Inc. | 26,117 | 3,207,168 |
Paycom Software Inc. | 4,021 | 800,219 |
Pentair PLC | 13,714 | 1,171,724 |
Quanta Services Inc. | 11,788 | 3,062,522 |
Republic Services Inc., Class A | 16,715 | 3,199,920 |
Robert Half Inc. | 8,663 | 686,803 |
Rockwell Automation Inc. | 9,312 | 2,712,865 |
Rollins Inc. | 22,960 | 1,062,359 |
RTX Corp. | 108,588 | 10,590,588 |
Snap-on Inc. | 4,321 | 1,279,967 |
Southwest Airlines Co. | 48,728 | 1,422,370 |
Stanley Black & Decker Inc. | 12,542 | 1,228,238 |
Textron Inc. | 16,365 | 1,569,894 |
Trane Technologies PLC | 18,553 | 5,569,611 |
TransDigm Group Inc. | 4,563 | 5,619,791 |
Uber Technologies Inc.(a) | 167,866 | 12,924,003 |
Union Pacific Corp. | 49,741 | 12,232,804 |
United Airlines Holdings Inc.(a) | 26,823 | 1,284,285 |
United Parcel Service Inc., Class B | 58,998 | 8,768,873 |
United Rentals Inc. | 5,506 | 3,970,432 |
Veralto Corp. | 17,917 | 1,588,521 |
Verisk Analytics Inc., Class A | 11,773 | 2,775,249 |
Waste Management Inc. | 29,898 | 6,372,759 |
Westinghouse Air Brake Technologies Corp. | 14,647 | 2,133,775 |
WW Grainger Inc. | 3,594 | 3,656,176 |
Security | Shares | Value |
United States (continued) | ||
Xylem Inc./NY | 19,696 | $2,545,511 |
316,932,069 | ||
Total Long-Term Investments — 99.5% (Cost: $509,754,645) | 568,541,388 | |
Short-Term Securities | ||
Money Market Funds — 0.5% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 2,134,726 | 2,135,580 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(d)(e) | 1,110,000 | 1,110,000 |
Total Short-Term Securities — 0.5% (Cost: $3,245,769) | 3,245,580 | |
Total Investments — 100.0% (Cost: $513,000,414) | 571,786,968 | |
Liabilities in Excess of Other Assets — (0.0)% | (210,972 ) | |
Net Assets — 100.0% | $571,575,996 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(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) | 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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $3,819,037 | $— | $(1,684,426 )(a) | $506 | $463 | $2,135,580 | 2,134,726 | $14,443 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 310,000 | 800,000 (a) | — | — | — | 1,110,000 | 1,110,000 | 48,557 | — |
$506 | $463 | $3,245,580 | $63,000 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
TOPIX Index | 2 | 06/13/24 | $365 | $5,540 |
Euro STOXX 50 Index | 11 | 06/21/24 | 599 | 11,074 |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
XAI Industrial Index | 15 | 06/21/24 | $1,927 | $36,144 |
$52,758 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $52,758 | $— | $— | $— | $52,758 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $389,811 | $— | $— | $— | $389,811 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $12,244 | $— | $— | $— | $12,244 |
Futures contracts: | |
Average notional value of contracts — long | $2,308,890 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $349,937,639 | $218,603,749 | $— | $568,541,388 |
Short-Term Securities | ||||
Money Market Funds | 3,245,580 | — | — | 3,245,580 |
$353,183,219 | $218,603,749 | $— | $571,786,968 |
Level 1 | Level 2 | Level 3 | Total | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $36,144 | $16,614 | $— | $52,758 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 10.2% | ||
BHP Group Ltd. | 507,119 | $14,662,811 |
BlueScope Steel Ltd. | 44,711 | 695,395 |
Fortescue Ltd. | 169,058 | 2,829,191 |
James Hardie Industries PLC(a) | 43,571 | 1,751,267 |
Mineral Resources Ltd. | 17,220 | 794,500 |
Northern Star Resources Ltd. | 115,355 | 1,088,439 |
Pilbara Minerals Ltd.(b) | 283,560 | 707,609 |
Rio Tinto Ltd. | 37,150 | 2,948,421 |
South32 Ltd. | 450,781 | 879,623 |
26,357,256 | ||
Belgium — 0.4% | ||
Syensqo SA(a) | 7,352 | 696,642 |
Umicore SA | 19,843 | 427,807 |
1,124,449 | ||
Brazil — 1.7% | ||
Vale SA, Class B, ADR | 363,398 | 4,429,822 |
Canada — 6.7% | ||
Agnico Eagle Mines Ltd. | 49,814 | 2,970,342 |
Barrick Gold Corp. | 176,015 | 2,927,627 |
CCL Industries Inc., Class B, NVS | 14,375 | 734,695 |
First Quantum Minerals Ltd. | 70,587 | 758,737 |
Franco-Nevada Corp. | 19,232 | 2,291,569 |
Kinross Gold Corp. | 122,191 | 749,627 |
Nutrien Ltd. | 49,493 | 2,688,856 |
Teck Resources Ltd., Class B | 45,884 | 2,100,187 |
Wheaton Precious Metals Corp. | 45,341 | 2,135,584 |
17,357,224 | ||
Chile — 0.1% | ||
Empresas CMPC SA | 111,415 | 226,408 |
Denmark — 0.8% | ||
Novonesis A/S (Novozymes A/S), Class B | 35,264 | 2,074,281 |
Finland — 1.0% | ||
Stora Enso OYJ, Class R | 61,486 | 855,027 |
UPM-Kymmene OYJ | 53,424 | 1,779,909 |
2,634,936 | ||
France — 4.9% | ||
Air Liquide SA | 52,414 | 10,904,656 |
ArcelorMittal SA | 46,197 | 1,269,822 |
Arkema SA | 6,270 | 660,104 |
12,834,582 | ||
Germany — 3.5% | ||
BASF SE | 89,320 | 5,104,093 |
Covestro AG(a)(c) | 19,354 | 1,058,663 |
Heidelberg Materials AG | 13,160 | 1,448,671 |
Symrise AG, Class A | 13,219 | 1,582,457 |
9,193,884 | ||
Ireland — 2.9% | ||
CRH PLC | 73,256 | 6,322,723 |
Smurfit Kappa Group PLC | 26,007 | 1,185,811 |
7,508,534 | ||
Japan — 6.9% | ||
Asahi Kasei Corp. | 139,100 | 1,020,059 |
JFE Holdings Inc. | 60,600 | 1,004,361 |
Mitsubishi Chemical Group Corp. | 142,600 | 869,043 |
Nippon Paint Holdings Co. Ltd. | 106,300 | 765,060 |
Nippon Steel Corp. | 95,229 | 2,291,636 |
Nitto Denko Corp. | 14,500 | 1,325,909 |
Security | Shares | Value |
Japan (continued) | ||
Shin-Etsu Chemical Co. Ltd. | 200,300 | $8,785,541 |
Sumitomo Chemical Co. Ltd. | 166,300 | 360,322 |
Sumitomo Metal Mining Co. Ltd. | 27,400 | 818,173 |
Toray Industries Inc. | 162,400 | 779,822 |
18,019,926 | ||
Mexico — 1.2% | ||
Cemex SAB de CV, NVS(a) | 1,513,507 | 1,364,204 |
Grupo Mexico SAB de CV, Series B | 312,085 | 1,858,214 |
3,222,418 | ||
Netherlands — 0.5% | ||
Akzo Nobel NV | 17,106 | 1,278,117 |
Norway — 0.5% | ||
Norsk Hydro ASA | 136,147 | 748,180 |
Yara International ASA | 16,228 | 514,575 |
1,262,755 | ||
Peru — 0.4% | ||
Southern Copper Corp. | 8,468 | 902,011 |
South Korea — 1.5% | ||
LG Chem Ltd. | 4,708 | 1,540,952 |
POSCO Holdings Inc. | 7,448 | 2,332,923 |
3,873,875 | ||
Sweden — 0.8% | ||
Boliden AB | 27,529 | 764,414 |
SSAB AB, Class B | 63,180 | 466,499 |
Svenska Cellulosa AB SCA, Class B | 60,268 | 926,560 |
2,157,473 | ||
Switzerland — 6.3% | ||
DSM-Firmenich AG | 20,739 | 2,358,689 |
Givaudan SA, Registered | 795 | 3,539,131 |
Holcim AG | 53,320 | 4,830,618 |
SIG Group AG | 34,626 | 767,806 |
Sika AG, Registered | 16,060 | 4,778,656 |
16,274,900 | ||
Taiwan — 0.4% | ||
Formosa Plastics Corp. | 475,720 | 1,011,986 |
United Kingdom — 7.8% | ||
Anglo American PLC | 133,860 | 3,298,687 |
Antofagasta PLC | 34,342 | 882,110 |
Croda International PLC | 14,292 | 884,323 |
DS Smith PLC | 138,799 | 694,293 |
Glencore PLC | 1,111,814 | 6,101,141 |
Johnson Matthey PLC | 19,255 | 435,131 |
Mondi PLC, NVS | 43,905 | 773,312 |
Rio Tinto PLC | 111,861 | 7,072,396 |
20,141,393 | ||
United States — 40.3% | ||
Air Products and Chemicals Inc. | 22,247 | 5,389,781 |
Albemarle Corp. | 11,681 | 1,538,855 |
Amcor PLC | 144,906 | 1,378,056 |
Avery Dennison Corp. | 8,063 | 1,800,065 |
Ball Corp. | 31,538 | 2,124,400 |
Celanese Corp., Class A | 10,035 | 1,724,615 |
CF Industries Holdings Inc. | 19,137 | 1,592,390 |
Corteva Inc. | 70,315 | 4,055,066 |
Dow Inc. | 70,283 | 4,071,494 |
DuPont de Nemours Inc. | 43,044 | 3,300,184 |
Eastman Chemical Co. | 11,792 | 1,181,794 |
Ecolab Inc. | 25,397 | 5,864,167 |
Security | Shares | Value |
United States (continued) | ||
FMC Corp. | 12,502 | $796,377 |
Freeport-McMoRan Inc. | 143,507 | 6,747,699 |
International Flavors & Fragrances Inc. | 25,547 | 2,196,787 |
International Paper Co. | 34,666 | 1,352,667 |
Linde PLC | 48,526 | 22,531,594 |
LyondellBasell Industries NV, Class A | 25,616 | 2,620,004 |
Martin Marietta Materials Inc.(b) | 6,185 | 3,797,219 |
Mosaic Co. (The) | 32,532 | 1,055,989 |
Newmont Corp. | 115,337 | 4,133,678 |
Nucor Corp. | 24,603 | 4,868,934 |
Packaging Corp. of America | 8,923 | 1,693,407 |
PPG Industries Inc. | 23,598 | 3,419,350 |
Sherwin-Williams Co. (The) | 23,567 | 8,185,526 |
Steel Dynamics Inc. | 15,222 | 2,256,357 |
Vulcan Materials Co. | 13,297 | 3,629,017 |
Westrock Co. | 25,657 | 1,268,739 |
104,574,211 | ||
Total Common Stocks — 98.8% (Cost: $278,753,956) | 256,460,441 | |
Preferred Stocks | ||
Brazil — 0.2% | ||
Gerdau SA, Preference Shares, ADR | 115,072 | 508,618 |
South Korea — 0.1% | ||
LG Chem Ltd., Preference Shares, NVS | 784 | 174,919 |
Total Preferred Stocks — 0.3% (Cost: $1,289,795) | 683,537 | |
Total Long-Term Investments — 99.1% (Cost: $280,043,751) | 257,143,978 |
Security | Shares | Value |
Short-Term Securities | ||
Money Market Funds — 0.6% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 1,044,285 | $1,044,702 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(d)(e) | 510,000 | 510,000 |
Total Short-Term Securities — 0.6% (Cost: $1,554,806) | 1,554,702 | |
Total Investments — 99.7% (Cost: $281,598,557) | 258,698,680 | |
Other Assets Less Liabilities — 0.3% | 884,767 | |
Net Assets — 100.0% | $259,583,447 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(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) | 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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $1,651,059 | $— | $(606,669 )(a) | $(44 ) | $356 | $1,044,702 | 1,044,285 | $2,982 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 530,000 | — | (20,000 )(a) | — | — | 510,000 | 510,000 | 16,377 | — |
$(44 ) | $356 | $1,554,702 | $19,359 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
S&P/TSE 60 Index | 3 | 06/20/24 | $594 | $6,516 |
FTSE 100 Index | 8 | 06/21/24 | 807 | 24,534 |
MSCI Emerging Markets Index | 9 | 06/21/24 | 472 | (82 ) |
S&P 500 E-Mini Index | 2 | 06/21/24 | 531 | 11,689 |
$42,657 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $42,739 | $— | $— | $— | $42,739 |
Liabilities—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized depreciation on futures contracts(a) | $— | $— | $82 | $— | $— | $— | $82 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $91,214 | $— | $— | $— | $91,214 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(35,080 ) | $— | $— | $— | $(35,080 ) |
Futures contracts: | |
Average notional value of contracts — long | $1,531,674 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $127,489,676 | $128,970,765 | $— | $256,460,441 |
Preferred Stocks | 508,618 | 174,919 | — | 683,537 |
Short-Term Securities | ||||
Money Market Funds | 1,554,702 | — | — | 1,554,702 |
$129,552,996 | $129,145,684 | $— | $258,698,680 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $18,205 | $24,534 | $— | $42,739 |
Liabilities | ||||
Equity Contracts | (82 ) | — | — | (82 ) |
$18,123 | $24,534 | $— | 42,657 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 0.2% | ||
WiseTech Global Ltd. | 56,659 | $3,465,428 |
Xero Ltd.(a) | 43,546 | 3,781,074 |
7,246,502 | ||
Canada — 1.2% | ||
CGI Inc.(a) | 63,751 | 7,033,295 |
Constellation Software Inc./Canada | 6,079 | 16,604,998 |
Open Text Corp. | 83,991 | 3,259,065 |
Shopify Inc., Class A(a) | 373,205 | 28,791,793 |
55,689,151 | ||
China — 0.2% | ||
Xiaomi Corp., Class B(a)(b) | 4,751,600 | 9,328,707 |
Finland — 0.1% | ||
Nokia OYJ | 1,630,332 | 5,784,572 |
France — 0.4% | ||
Capgemini SE | 47,997 | 11,044,620 |
Dassault Systemes SE | 207,151 | 9,169,983 |
20,214,603 | ||
Germany — 1.6% | ||
Infineon Technologies AG | 403,487 | 13,720,789 |
SAP SE | 315,040 | 61,344,225 |
75,065,014 | ||
Japan — 3.7% | ||
Advantest Corp. | 235,700 | 10,470,468 |
Canon Inc. | 312,600 | 9,313,934 |
Disco Corp. | 27,200 | 9,942,506 |
FUJIFILM Holdings Corp. | 384,300 | 8,629,302 |
Fujitsu Ltd. | 533,000 | 8,530,132 |
Keyence Corp. | 61,040 | 28,338,481 |
Kyocera Corp. | 428,800 | 5,750,678 |
Lasertec Corp. | 24,300 | 6,709,870 |
Murata Manufacturing Co. Ltd. | 581,800 | 10,881,057 |
NEC Corp. | 83,500 | 6,095,945 |
Nomura Research Institute Ltd. | 143,000 | 4,039,568 |
NTT Data Group Corp. | 181,400 | 2,883,887 |
Obic Co. Ltd. | 20,100 | 3,036,126 |
Omron Corp. | 62,800 | 2,248,680 |
Renesas Electronics Corp. | 441,100 | 7,860,692 |
Ricoh Co. Ltd. | 192,200 | 1,707,676 |
Rohm Co. Ltd. | 105,200 | 1,687,281 |
TDK Corp. | 119,000 | 5,843,848 |
Tokyo Electron Ltd. | 145,500 | 37,895,336 |
171,865,467 | ||
Netherlands — 2.9% | ||
ASM International NV | 14,035 | 8,595,064 |
ASML Holding NV | 123,455 | 119,684,807 |
BE Semiconductor Industries NV | 25,068 | 3,839,879 |
132,119,750 | ||
Singapore — 0.2% | ||
STMicroelectronics NV , New(c) | 202,741 | 8,724,586 |
South Korea — 2.7% | ||
Samsung Electronics Co. Ltd. | 1,586,248 | 97,089,571 |
Samsung SDI Co. Ltd. | 16,146 | 5,726,241 |
SK Hynix Inc. | 166,444 | 22,625,257 |
125,441,069 | ||
Sweden — 0.3% | ||
Hexagon AB, Class B | 649,491 | 7,677,588 |
Security | Shares | Value |
Sweden (continued) | ||
Telefonaktiebolaget LM Ericsson, Class B | 952,236 | $5,121,273 |
12,798,861 | ||
Switzerland — 0.1% | ||
Logitech International SA, Registered | 49,205 | 4,409,224 |
Temenos AG, Registered | 20,332 | 1,454,355 |
5,863,579 | ||
Taiwan — 5.2% | ||
Delta Electronics Inc. | 589,000 | 6,303,993 |
Hon Hai Precision Industry Co. Ltd. | 3,726,378 | 17,465,487 |
MediaTek Inc. | 490,000 | 18,296,436 |
Quanta Computer Inc. | 852,000 | 7,460,938 |
Taiwan Semiconductor Manufacturing Co. Ltd. | 7,529,600 | 183,278,654 |
United Microelectronics Corp. | 3,590,000 | 5,830,312 |
238,635,820 | ||
United Kingdom — 0.2% | ||
Halma PLC | 117,294 | 3,502,441 |
Sage Group PLC (The) | 311,310 | 4,975,369 |
8,477,810 | ||
United States — 80.3% | ||
Accenture PLC, Class A | 193,715 | 67,143,556 |
Adobe Inc.(a) | 139,647 | 70,465,876 |
Advanced Micro Devices Inc.(a) | 499,227 | 90,105,481 |
Akamai Technologies Inc.(a) | 46,592 | 5,067,346 |
Amphenol Corp., Class A | 185,328 | 21,377,585 |
Analog Devices Inc. | 153,192 | 30,299,846 |
Ansys Inc.(a) | 26,845 | 9,319,510 |
Apple Inc. | 4,186,463 | 717,894,675 |
Applied Materials Inc. | 257,080 | 53,017,608 |
Arista Networks Inc.(a)(c) | 77,854 | 22,576,103 |
Autodesk Inc.(a) | 66,085 | 17,209,856 |
Broadcom Inc. | 135,956 | 180,197,442 |
Cadence Design Systems Inc.(a) | 84,055 | 26,164,640 |
CDW Corp./DE | 41,382 | 10,584,688 |
Cisco Systems Inc. | 1,255,486 | 62,661,306 |
Cognizant Technology Solutions Corp., Class A | 153,865 | 11,276,766 |
Corning Inc. | 237,244 | 7,819,562 |
Enphase Energy Inc.(a)(c) | 41,944 | 5,074,385 |
EPAM Systems Inc.(a) | 17,822 | 4,921,724 |
F5 Inc.(a) | 18,161 | 3,443,144 |
Fair Isaac Corp.(a) | 7,676 | 9,592,006 |
First Solar Inc.(a) | 33,002 | 5,570,738 |
Fortinet Inc.(a) | 196,924 | 13,451,878 |
Gartner Inc.(a) | 24,077 | 11,476,784 |
Gen Digital Inc. | 173,162 | 3,878,829 |
Hewlett Packard Enterprise Co. | 401,652 | 7,121,290 |
HP Inc. | 269,417 | 8,141,782 |
Intel Corp. | 1,306,315 | 57,699,934 |
International Business Machines Corp. | 282,711 | 53,986,493 |
Intuit Inc. | 86,488 | 56,217,200 |
Jabil Inc. | 39,407 | 5,278,568 |
Juniper Networks Inc. | 99,449 | 3,685,580 |
Keysight Technologies Inc.(a)(c) | 53,957 | 8,437,796 |
KLA Corp. | 41,772 | 29,180,666 |
Lam Research Corp. | 40,496 | 39,344,699 |
Microchip Technology Inc. | 166,954 | 14,977,443 |
Micron Technology Inc. | 341,069 | 40,208,624 |
Microsoft Corp. | 2,143,050 | 901,623,995 |
Monolithic Power Systems Inc. | 14,838 | 10,051,558 |
Motorola Solutions Inc. | 51,271 | 18,200,180 |
NetApp Inc. | 63,649 | 6,681,236 |
Nvidia Corp. | 525,745 | 475,042,152 |
Security | Shares | Value |
United States (continued) | ||
NXP Semiconductors NV | 79,632 | $19,730,421 |
ON Semiconductor Corp.(a)(c) | 132,027 | 9,710,586 |
Oracle Corp. | 492,605 | 61,876,114 |
Palo Alto Networks Inc.(a)(c) | 97,415 | 27,678,524 |
PTC Inc.(a) | 36,937 | 6,978,877 |
Qorvo Inc.(a) | 29,827 | 3,425,034 |
Qualcomm Inc. | 344,804 | 58,375,317 |
Roper Technologies Inc. | 32,995 | 18,504,916 |
Salesforce Inc. | 299,079 | 90,076,613 |
Seagate Technology Holdings PLC | 60,190 | 5,600,679 |
ServiceNow Inc.(a) | 63,333 | 48,285,079 |
Skyworks Solutions Inc. | 49,502 | 5,362,057 |
Super Micro Computer Inc.(a) | 15,549 | 15,704,956 |
Synopsys Inc.(a) | 47,121 | 26,929,651 |
TE Connectivity Ltd. | 95,403 | 13,856,332 |
Teledyne Technologies Inc.(a) | 14,569 | 6,254,763 |
Teradyne Inc. | 47,230 | 5,328,961 |
Texas Instruments Inc. | 280,936 | 48,941,861 |
Trimble Inc.(a) | 76,856 | 4,946,452 |
Tyler Technologies Inc.(a) | 13,009 | 5,528,955 |
VeriSign Inc.(a) | 27,228 | 5,159,978 |
Western Digital Corp.(a) | 100,176 | 6,836,010 |
Zebra Technologies Corp., Class A(a) | 15,859 | 4,780,537 |
3,696,343,203 | ||
Total Common Stocks — 99.3% (Cost: $3,032,206,738) | 4,573,598,694 | |
Preferred Stocks | ||
South Korea — 0.3% | ||
Samsung Electronics Co. Ltd., Preference Shares, NVS | 254,238 | 12,689,576 |
Total Preferred Stocks — 0.3% (Cost: $8,751,782) | 12,689,576 | |
Warrants | ||
Canada — 0.0% | ||
Constellation Software Inc., Issued 08/29/23, 1 Share for 1 Warrant, Expires 03/31/40, Strike Price CAD )(d) | 5,997 | — |
Total Warrants — 0.0% (Cost: $—) | — | |
Total Long-Term Investments — 99.6% (Cost: $3,040,958,520) | 4,586,288,270 |
Security | Shares | Value |
Short-Term Securities | ||
Money Market Funds — 0.6% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(e)(f)(g) | 17,618,431 | $17,625,479 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(e)(f) | 12,960,000 | 12,960,000 |
Total Short-Term Securities — 0.6% (Cost: $30,588,297) | 30,585,479 | |
Total Investments — 100.2% (Cost: $3,071,546,817) | 4,616,873,749 | |
Liabilities in Excess of Other Assets — (0.2)% | (10,888,871 ) | |
Net Assets — 100.0% | $4,605,984,878 |
(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) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(e) | Affiliate of the Fund. |
(f) | Annualized 7-day yield as of period end. |
(g) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $6,263,870 | $11,365,258 (a) | $— | $(2,588 ) | $(1,061 ) | $17,625,479 | 17,618,431 | $31,532 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 5,680,000 | 7,280,000 (a) | — | — | — | 12,960,000 | 12,960,000 | 452,384 | — |
$(2,588 ) | $(1,061 ) | $30,585,479 | $483,916 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
E-Mini Technology Select Sector Index | 83 | 06/21/24 | $17,652 | $52,058 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $52,058 | $— | $— | $— | $52,058 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $4,648,581 | $— | $— | $— | $4,648,581 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(438,805 ) | $— | $— | $— | $(438,805 ) |
Futures contracts: | |
Average notional value of contracts — long | $14,432,440 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $4,097,497,629 | $476,101,065 | $— | $4,573,598,694 |
Preferred Stocks | — | 12,689,576 | — | 12,689,576 |
Warrants | — | — | — | — |
Short-Term Securities | ||||
Money Market Funds | 30,585,479 | — | — | 30,585,479 |
$4,128,083,108 | $488,790,641 | $— | $4,616,873,749 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $52,058 | $— | $— | $52,058 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 1.2% | ||
APA Group | 106,441 | $583,402 |
Origin Energy Ltd. | 141,700 | 850,018 |
1,433,420 | ||
Austria — 0.4% | ||
Verbund AG | 6,863 | 501,411 |
Brazil — 0.6% | ||
Centrais Eletricas Brasileiras SA | 85,577 | 711,521 |
Canada — 3.8% | ||
Algonquin Power & Utilities Corp. | 56,687 | 358,230 |
Brookfield Infrastructure Partners LP(a) | 38,015 | 1,187,136 |
Emera Inc. | 23,416 | 824,067 |
Fortis Inc./Canada | 40,492 | 1,599,891 |
Hydro One Ltd.(b) | 26,280 | 766,350 |
4,735,674 | ||
Chile — 0.1% | ||
Enel Americas SA | 1,592,613 | 155,251 |
Colombia — 0.1% | ||
Interconexion Electrica SA ESP | 36,799 | 188,315 |
Denmark — 0.7% | ||
Orsted A/S(a)(b) | 15,663 | 875,230 |
Finland — 0.4% | ||
Fortum OYJ | 36,172 | 446,586 |
France — 3.3% | ||
Engie SA | 144,554 | 2,422,341 |
Veolia Environnement SA | 50,211 | 1,633,455 |
4,055,796 | ||
Germany — 3.6% | ||
E.ON SE | 185,386 | 2,580,928 |
RWE AG | 55,788 | 1,896,077 |
4,477,005 | ||
Italy — 4.8% | ||
Enel SpA | 637,750 | 4,210,104 |
Snam SpA | 169,596 | 800,782 |
Terna - Rete Elettrica Nazionale | 116,318 | 961,451 |
5,972,337 | ||
Japan — 2.7% | ||
Chubu Electric Power Co. Inc. | 62,500 | 817,259 |
Kansai Electric Power Co. Inc. (The) | 68,000 | 970,278 |
Osaka Gas Co. Ltd. | 34,300 | 771,612 |
Tokyo Gas Co. Ltd. | 33,500 | 761,549 |
3,320,698 | ||
Portugal — 0.8% | ||
EDP - Energias de Portugal SA | 245,414 | 957,515 |
Spain — 5.9% | ||
Enagas SA | 19,446 | 288,886 |
Endesa SA | 26,132 | 484,525 |
Iberdrola SA | 455,293 | 5,654,899 |
Naturgy Energy Group SA | 15,158 | 328,969 |
Redeia Corp. SA | 33,468 | 571,668 |
7,328,947 | ||
United Kingdom — 6.6% | ||
Centrica PLC | 461,761 | 744,385 |
National Grid PLC | 307,786 | 4,147,108 |
Security | Shares | Value |
United Kingdom (continued) | ||
Severn Trent PLC | 22,591 | $704,913 |
SSE PLC | 90,547 | 1,887,722 |
United Utilities Group PLC | 56,457 | 733,582 |
8,217,710 | ||
United States — 64.5% | ||
AES Corp. (The) | 55,388 | 993,107 |
Alliant Energy Corp. | 21,094 | 1,063,138 |
Ameren Corp. | 21,671 | 1,602,787 |
American Electric Power Co. Inc. | 43,404 | 3,737,084 |
American Water Works Co. Inc. | 16,088 | 1,966,114 |
Atmos Energy Corp. | 12,432 | 1,477,792 |
CenterPoint Energy Inc. | 52,106 | 1,484,500 |
CMS Energy Corp. | 24,268 | 1,464,331 |
Consolidated Edison Inc. | 28,506 | 2,588,630 |
Constellation Energy Corp. | 26,361 | 4,872,831 |
Dominion Energy Inc. | 69,068 | 3,397,455 |
DTE Energy Co. | 17,055 | 1,912,548 |
Duke Energy Corp. | 63,428 | 6,134,122 |
Edison International | 31,674 | 2,240,302 |
Entergy Corp. | 17,429 | 1,841,897 |
Evergy Inc. | 18,994 | 1,013,900 |
Eversource Energy | 28,791 | 1,720,838 |
Exelon Corp. | 82,174 | 3,087,277 |
FirstEnergy Corp. | 42,563 | 1,643,783 |
NextEra Energy Inc. | 168,788 | 10,787,242 |
NiSource Inc. | 34,187 | 945,612 |
NRG Energy Inc. | 18,660 | 1,263,095 |
PG&E Corp. | 176,135 | 2,952,023 |
Pinnacle West Capital Corp. | 9,330 | 697,231 |
PPL Corp. | 60,752 | 1,672,502 |
Public Service Enterprise Group Inc. | 41,146 | 2,747,730 |
Sempra Energy | 51,942 | 3,730,994 |
Southern Co. (The) | 89,722 | 6,436,656 |
WEC Energy Group Inc. | 26,058 | 2,139,883 |
Xcel Energy Inc. | 45,573 | 2,449,549 |
80,064,953 | ||
Total Long-Term Investments — 99.5% (Cost: $143,060,278) | 123,442,369 | |
Short-Term Securities | ||
Money Market Funds — 0.7% | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(c)(d) | 870,000 | 870,000 |
Total Short-Term Securities — 0.7% (Cost: $870,000) | 870,000 | |
Total Investments — 100.2% (Cost: $143,930,278) | 124,312,369 | |
Liabilities in Excess of Other Assets — (0.2)% | (278,920 ) | |
Net Assets — 100.0% | $124,033,449 |
(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) | Affiliate of the Fund. |
(d) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares(a) | $— | $— | $(1 )(b) | $1 | $— | $— | — | $55 (c) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 110,000 | 760,000 (b) | — | — | — | 870,000 | 870,000 | 27,588 | — |
$1 | $— | $870,000 | $27,643 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
E-Mini Utiliites Select Sector Index | 8 | 06/21/24 | $535 | $17,352 |
Euro STOXX 50 Index | 1 | 06/21/24 | 54 | 93 |
$17,445 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $17,445 | $— | $— | $— | $17,445 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $18,803 | $— | $— | $— | $18,803 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $849 | $— | $— | $— | $849 |
Futures contracts: | |
Average notional value of contracts — long | $398,208 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $85,855,714 | $37,586,655 | $— | $123,442,369 |
Short-Term Securities | ||||
Money Market Funds | 870,000 | — | — | 870,000 |
$86,725,714 | $37,586,655 | $— | $124,312,369 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $17,352 | $93 | $— | $17,445 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
iShares Global Comm Services ETF | iShares Global Consumer Discretionary ETF | iShares Global Consumer Staples ETF | iShares Global Energy ETF | |
ASSETS | ||||
Investments, at value—unaffiliated(a)(b) | $272,915,644 | $267,587,168 | $863,989,822 | $3,345,881,904 |
Investments, at value—affiliated(c) | 2,177,900 | 290,000 | 930,000 | 7,840,000 |
Cash | 158 | 22,304 | 123,025 | 601,143 |
Cash pledged for futures contracts | 40,000 | 20,000 | 144,000 | 733,000 |
Foreign currency collateral pledged for futures contracts(d) | 4,789 | 21,445 | 54,781 | 85,826 |
Foreign currency, at value(e) | 194,448 | 242,499 | 872,233 | 7,416,391 |
Receivables: | ||||
Investments sold | — | — | — | 2,229,125 |
Securities lending income—affiliated | 143 | 39 | 63 | 116 |
Capital shares sold | — | — | — | 1,498,494 |
Dividends— unaffiliated | 316,083 | 402,372 | 2,989,567 | 6,112,114 |
Dividends—affiliated | 1,662 | 1,319 | 2,628 | 23,754 |
Tax reclaims | 10,798 | 71,469 | 924,043 | 696,507 |
Variation margin on futures contracts | — | 406 | 4,034 | 7,389 |
Total assets | 275,661,625 | 268,659,021 | 870,034,196 | 3,373,125,763 |
LIABILITIES | ||||
Collateral on securities loaned, at value | 1,788,319 | — | — | — |
Payables: | ||||
Investments purchased | — | — | — | 10,038,682 |
Investment advisory fees | 89,675 | 88,951 | 287,838 | 1,067,298 |
IRS compliance fee for foreign withholding tax claims | 104,330 | — | — | 1,784,478 |
Professional fees | 1,704 | — | — | — |
Variation margin on futures contracts | 81 | — | — | — |
Total liabilities | 1,984,109 | 88,951 | 287,838 | 12,890,458 |
Commitments and contingent liabilities | ||||
NET ASSETS | $273,677,516 | $268,570,070 | $869,746,358 | $3,360,235,305 |
NET ASSETS CONSIST OF | ||||
Paid-in capital | $372,669,840 | $328,909,935 | $967,155,069 | $3,237,694,109 |
Accumulated earnings (loss) | (98,992,324) | (60,339,865) | (97,408,711) | 122,541,196 |
NET ASSETS | $273,677,516 | $268,570,070 | $869,746,358 | $3,360,235,305 |
NET ASSET VALUE | ||||
Shares outstanding | 3,250,000 | 1,600,000 | 14,250,000 | 78,300,000 |
Net asset value | $84.21 | $167.86 | $61.03 | $42.91 |
Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
Par value | None | None | None | None |
(a) Investments, at cost—unaffiliated | $248,705,366 | $278,704,693 | $902,129,201 | $3,000,535,525 |
(b) Securities loaned, at value | $1,764,772 | $— | $— | $— |
(c) Investments, at cost—affiliated | $2,178,079 | $290,000 | $930,000 | $7,840,000 |
(d) Foreign currency collateral pledged, at cost | $4,917 | $21,617 | $56,268 | $87,564 |
(e) Foreign currency, at cost | $195,537 | $243,613 | $875,115 | $7,427,187 |
iShares Global Financials ETF | iShares Global Healthcare ETF | iShares Global Industrials ETF | iShares Global Materials ETF | |
ASSETS | ||||
Investments, at value—unaffiliated(a)(b) | $394,982,357 | $4,095,786,092 | $568,541,388 | $257,143,978 |
Investments, at value—affiliated(c) | 22,811,100 | 23,022,872 | 3,245,580 | 1,554,702 |
Cash | 126,818 | 614,022 | 141,409 | 7,070 |
Cash pledged for futures contracts | 115,000 | 506,000 | 80,000 | 38,000 |
Foreign currency collateral pledged for futures contracts(d) | 43,400 | — | 40,865 | 54,749 |
Foreign currency, at value(e) | 697,788 | 2,881,392 | 647,152 | 763,521 |
Receivables: | ||||
Investments sold | 61 | — | — | — |
Securities lending income—affiliated | 2,987 | 2,277 | 7,183 | 333 |
Capital shares sold | — | — | 281,404 | — |
Dividends— unaffiliated | 1,103,025 | 4,519,543 | 1,092,512 | 892,509 |
Dividends—affiliated | 3,248 | 28,702 | 4,811 | 933 |
Tax reclaims | 946,895 | 4,434,877 | 263,179 | 262,158 |
Variation margin on futures contracts | 2,842 | 37 | 1,458 | 3,675 |
Total assets | 420,835,521 | 4,131,795,814 | 574,346,941 | 260,721,628 |
LIABILITIES | ||||
Collateral on securities loaned, at value | 17,678,704 | 14,584,330 | 2,131,089 | 1,044,811 |
Payables: | ||||
Investments purchased | — | 5,203,406 | 454,005 | 16 |
Capital shares redeemed | — | 275,617 | — | — |
Investment advisory fees | 131,767 | 1,372,269 | 185,851 | 84,730 |
IRS compliance fee for foreign withholding tax claims | 112,996 | — | — | — |
Professional fees | — | — | — | 8,624 |
Total liabilities | 17,923,467 | 21,435,622 | 2,770,945 | 1,138,181 |
Commitments and contingent liabilities | ||||
NET ASSETS | $402,912,054 | $4,110,360,192 | $571,575,996 | $259,583,447 |
NET ASSETS CONSIST OF | ||||
Paid-in capital | $518,079,440 | $3,568,872,244 | $549,460,436 | $383,974,784 |
Accumulated earnings (loss) | (115,167,386) | 541,487,948 | 22,115,560 | (124,391,337) |
NET ASSETS | $402,912,054 | $4,110,360,192 | $571,575,996 | $259,583,447 |
NET ASSET VALUE | ||||
Shares outstanding | 4,650,000 | 44,150,000 | 4,100,000 | 2,900,000 |
Net asset value | $86.65 | $93.10 | $139.41 | $89.51 |
Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
Par value | None | None | None | None |
(a) Investments, at cost—unaffiliated | $362,127,916 | $3,437,882,786 | $509,754,645 | $280,043,751 |
(b) Securities loaned, at value | $17,326,682 | $13,989,619 | $2,094,830 | $1,007,502 |
(c) Investments, at cost—affiliated | $23,080,047 | $23,020,398 | $3,245,769 | $1,554,806 |
(d) Foreign currency collateral pledged, at cost | $44,289 | $— | $41,361 | $58,165 |
(e) Foreign currency, at cost | $701,875 | $2,903,801 | $649,298 | $763,609 |
iShares Global Tech ETF | iShares Global Utilities ETF | |
ASSETS | ||
Investments, at value—unaffiliated(a)(b) | $4,586,288,270 | $123,442,369 |
Investments, at value—affiliated(c) | 30,585,479 | 870,000 |
Cash | 2,071,474 | 72,571 |
Cash pledged for futures contracts | 881,000 | 34,000 |
Foreign currency collateral pledged for futures contracts(d) | — | 4,315 |
Foreign currency, at value(e) | 2,296,364 | 145,622 |
Receivables: | ||
Securities lending income—affiliated | 2,689 | — |
Capital shares sold | 43,804 | — |
Dividends—unaffiliated | 2,891,074 | 178,034 |
Dividends— affiliated | 48,506 | 3,895 |
Tax reclaims | 62,431 | 25,727 |
Variation margin on futures contracts | — | 133 |
Other assets | 10,270 | — |
Total assets | 4,625,181,361 | 124,776,666 |
LIABILITIES | ||
Collateral on securities loaned, at value | 17,627,383 | — |
Payables: | ||
Investments purchased | 43,804 | — |
Investment advisory fees | 1,521,678 | 40,358 |
IRS compliance fee for foreign withholding tax claims | — | 698,627 |
Professional fees | 3,582 | 4,232 |
Variation margin on futures contracts | 36 | — |
Total liabilities | 19,196,483 | 743,217 |
Commitments and contingent liabilities | ||
NET ASSETS | $4,605,984,878 | $124,033,449 |
NET ASSETS CONSIST OF | ||
Paid-in capital | $3,139,267,165 | $192,514,502 |
Accumulated earnings (loss) | 1,466,717,713 | (68,481,053) |
NET ASSETS | $4,605,984,878 | $124,033,449 |
NET ASSET VALUE | ||
Shares outstanding | 61,450,000 | 2,100,000 |
Net asset value | $74.96 | $59.06 |
Shares authorized | Unlimited | Unlimited |
Par value | None | None |
(a) Investments, at cost—unaffiliated | $3,040,958,520 | $143,060,278 |
(b) Securities loaned, at value | $16,909,965 | $— |
(c) Investments, at cost—affiliated | $30,588,297 | $870,000 |
(d) Foreign currency collateral pledged, at cost | $— | $4,331 |
(e) Foreign currency, at cost | $2,309,197 | $145,748 |
iShares Global Comm Services ETF | iShares Global Consumer Discretionary ETF | iShares Global Consumer Staples ETF | iShares Global Energy ETF | |
INVESTMENT INCOME | ||||
Dividends—unaffiliated | $4,627,247 | $4,940,191 | $36,406,011 | $106,421,109 |
Dividends—affiliated | 36,520 | 17,324 | 95,299 | 209,666 |
Interest—unaffiliated | 5,761 | 3,013 | 14,834 | 52,734 |
Securities lending income—affiliated—net | 4,934 | 12,953 | 3,910 | 6,218 |
Other income—unaffiliated | — | 5,803 | — | — |
Foreign taxes withheld | (184,511 ) | (357,803 ) | (1,530,511 ) | (4,330,442 ) |
Foreign withholding tax claims | 41,006 | 51,080 | — | — |
IRS compliance fee for foreign withholding tax claims | (2,413 ) | — | — | (108,073 ) |
Total investment income | 4,528,544 | 4,672,561 | 34,989,543 | 102,251,212 |
EXPENSES | ||||
Investment advisory | 1,164,321 | 1,286,526 | 4,901,639 | 9,510,113 |
Professional | 9,599 | 5,693 | 4,862 | 3,782 |
Commitment costs | 206 | 230 | 338 | 2,390 |
Total expenses | 1,174,126 | 1,292,449 | 4,906,839 | 9,516,285 |
Net investment income | 3,354,418 | 3,380,112 | 30,082,704 | 92,734,927 |
REALIZED AND UNREALIZED GAIN (LOSS) | ||||
Net realized gain (loss) from: | ||||
Investments—unaffiliated | (2,729,743 ) | (8,992,542 ) | (15,618,598 ) | (10,192,208 ) |
Investments—affiliated | (952 ) | 2,718 | 1,244 | 1,737 |
Foreign currency transactions | (13,015 ) | (39,485 ) | (157,013 ) | 251,499 |
Futures contracts | 231,412 | 191,019 | (9,289 ) | 1,844,170 |
In-kind redemptions—unaffiliated(a) | 26,106,550 | 22,428,977 | 56,909,172 | 49,126,158 |
23,594,252 | 13,590,687 | 41,125,516 | 41,031,356 | |
Net change in unrealized appreciation (depreciation) on: | ||||
Investments—unaffiliated | 53,675,904 | 28,221,159 | (96,009,852 ) | 243,016,856 |
Investments—affiliated | 11 | (180 ) | — | — |
Foreign currency translations | (1,824 ) | 1,777 | (21,139 ) | (78,371 ) |
Futures contracts | (11,312 ) | (17,133 ) | (234,437 ) | 514,826 |
53,662,779 | 28,205,623 | (96,265,428 ) | 243,453,311 | |
Net realized and unrealized gain (loss) | 77,257,031 | 41,796,310 | (55,139,912 ) | 284,484,667 |
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $80,611,449 | $45,176,422 | $(25,057,208 ) | $377,219,594 |
(a) See Note 2 of the Notes to Financial Statements. |
iShares Global Financials ETF | iShares Global Healthcare ETF | iShares Global Industrials ETF | iShares Global Materials ETF | |
INVESTMENT INCOME | ||||
Dividends—unaffiliated | $13,365,185 | $74,917,278 | $9,359,737 | $9,133,743 |
Dividends—affiliated | 182,456 | 310,112 | 48,557 | 16,377 |
Interest—unaffiliated | 10,357 | 36,547 | 5,894 | 4,234 |
Securities lending income—affiliated—net | 19,831 | 106,228 | 14,443 | 2,982 |
Other income—unaffiliated | 6,297 | 12,957 | — | 6,457 |
Foreign taxes withheld | (964,654 ) | (3,604,384 ) | (553,216 ) | (428,030 ) |
Foreign withholding tax claims | 61,379 | 257,171 | — | 183,097 |
IRS compliance fee for foreign withholding tax claims | (189,407 ) | — | (48,094 ) | — |
Total investment income | 12,491,444 | 72,035,909 | 8,827,321 | 8,918,860 |
EXPENSES | ||||
Investment advisory | 1,677,386 | 16,375,826 | 1,882,117 | 1,131,750 |
Professional | 32,913 | 27,018 | 26,135 | 22,748 |
Commitment costs | 1,023 | — | 155 | 986 |
Total expenses | 1,711,322 | 16,402,844 | 1,908,407 | 1,155,484 |
Net investment income | 10,780,122 | 55,633,065 | 6,918,914 | 7,763,376 |
REALIZED AND UNREALIZED GAIN (LOSS) | ||||
Net realized gain (loss) from: | ||||
Investments—unaffiliated | (6,731,671 ) | (32,755,418 ) | (5,612,570 ) | (3,475,215 ) |
Investments—affiliated | (110,517 ) | 5,636 | 506 | (44 ) |
Foreign currency transactions | (13,994 ) | (106,316 ) | (28,039 ) | (39,302 ) |
Futures contracts | 448,042 | 1,425,320 | 389,811 | 91,214 |
In-kind redemptions—unaffiliated(a) | (361,396 ) | 299,859,962 | 35,075,344 | (1,526,323 ) |
In-kind redemptions—affiliated(a) | (202,295 ) | — | — | — |
(6,971,831 ) | 268,429,184 | 29,825,052 | (4,949,670 ) | |
Net change in unrealized appreciation (depreciation) on: | ||||
Investments—unaffiliated | 98,010,042 | 177,155,010 | 74,674,659 | 21,518,832 |
Investments—affiliated | 1,385,159 | (2,881 ) | 463 | 356 |
Foreign currency translations | (11,204 ) | (62,097 ) | (424 ) | (15,164 ) |
Futures contracts | 73,159 | (312,998 ) | 12,244 | (35,080 ) |
99,457,156 | 176,777,034 | 74,686,942 | 21,468,944 | |
Net realized and unrealized gain | 92,485,325 | 445,206,218 | 104,511,994 | 16,519,274 |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $103,265,447 | $500,839,283 | $111,430,908 | $24,282,650 |
(a) See Note 2 of the Notes to Financial Statements. |
iShares Global Tech ETF | iShares Global Utilities ETF | |
INVESTMENT INCOME | ||
Dividends—unaffiliated | $39,112,603 | $4,835,512 |
Dividends—affiliated | 452,384 | 27,588 |
Interest—unaffiliated | 48,085 | 2,368 |
Securities lending income—affiliated—net | 31,532 | 55 |
Non-cash dividends—unaffiliated | — | 296,745 |
Other income—unaffiliated | — | 320,748 |
Foreign taxes withheld | (2,067,876 ) | (163,304 ) |
Foreign withholding tax claims | 36,174 | 804,474 |
IRS compliance fee for foreign withholding tax claims | — | (689,726 ) |
Total investment income | 37,612,902 | 5,434,460 |
EXPENSES | ||
Investment advisory | 15,253,598 | 530,457 |
Commitment costs | 13,399 | 65 |
Professional | 7,399 | 118,031 |
Interest expense | 3,981 | — |
Total expenses | 15,278,377 | 648,553 |
Net investment income | 22,334,525 | 4,785,907 |
REALIZED AND UNREALIZED GAIN (LOSS) | ||
Net realized gain (loss) from: | ||
Investments—unaffiliated | 34,665,327 | (2,487,258 ) |
Investments—affiliated | (2,588 ) | 1 |
Foreign currency transactions | (219,798 ) | (1,753 ) |
Futures contracts | 4,648,581 | 18,803 |
In-kind redemptions—unaffiliated(a) | 276,791,931 | 147,625 |
315,883,453 | (2,322,582 ) | |
Net change in unrealized appreciation (depreciation) on: | ||
Investments—unaffiliated | 915,891,383 | (2,192,131 ) |
Investments—affiliated | (1,061 ) | — |
Foreign currency translations | (36,309 ) | 1,074 |
Futures contracts | (438,805 ) | 849 |
915,415,208 | (2,190,208 ) | |
Net realized and unrealized gain (loss) | 1,231,298,661 | (4,512,790 ) |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $1,253,633,186 | $273,117 |
(a) See Note 2 of the Notes to Financial Statements. |
iShares Global Comm Services ETF | iShares Global Consumer Discretionary ETF | |||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/24 | Year Ended 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $3,354,418 | $2,803,241 | $3,380,112 | $3,458,130 |
Net realized gain (loss) | 23,594,252 | (9,373,960 ) | 13,590,687 | (13,236,888 ) |
Net change in unrealized appreciation (depreciation) | 53,662,779 | (21,120,876 ) | 28,205,623 | (18,050,264 ) |
Net increase (decrease) in net assets resulting from operations | 80,611,449 | (27,691,595 ) | 45,176,422 | (27,829,022 ) |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (4,000,936 ) | (2,680,016 ) | (3,556,029 ) | (3,272,046 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | (59,473,162 ) | 46,641,829 | (77,966,973 ) | (22,847,245 ) |
NET ASSETS | ||||
Total increase (decrease) in net assets | 17,137,351 | 16,270,218 | (36,346,580 ) | (53,948,313 ) |
Beginning of year | 256,540,165 | 240,269,947 | 304,916,650 | 358,864,963 |
End of year | $273,677,516 | $256,540,165 | $268,570,070 | $304,916,650 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Global Consumer Staples ETF | iShares Global Energy ETF | |||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/24 | Year Ended 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $30,082,704 | $27,404,809 | $92,734,927 | $105,959,894 |
Net realized gain (loss) | 41,125,516 | (3,811,619 ) | 41,031,356 | 218,809,541 |
Net change in unrealized appreciation (depreciation) | (96,265,428 ) | 13,550,641 | 243,453,311 | (137,884,777 ) |
Net increase (decrease) in net assets resulting from operations | (25,057,208 ) | 37,143,831 | 377,219,594 | 186,884,658 |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (32,801,353 ) | (24,794,345 ) | (82,209,822 ) | (103,333,626 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | (609,074,187 ) | 502,554,697 | 1,266,449,394 | (565,617,612 ) |
NET ASSETS | ||||
Total increase (decrease) in net assets | (666,932,748 ) | 514,904,183 | 1,561,459,166 | (482,066,580 ) |
Beginning of year | 1,536,679,106 | 1,021,774,923 | 1,798,776,139 | 2,280,842,719 |
End of year | $869,746,358 | $1,536,679,106 | $3,360,235,305 | $1,798,776,139 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Global Financials ETF | iShares Global Healthcare ETF | |||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/24 | Year Ended 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $10,780,122 | $23,005,081 | $55,633,065 | $51,322,730 |
Net realized gain (loss) | (6,971,831 ) | (112,153,947 ) | 268,429,184 | 238,770,770 |
Net change in unrealized appreciation (depreciation) | 99,457,156 | (22,033,959 ) | 176,777,034 | (403,158,385 ) |
Net increase (decrease) in net assets resulting from operations | 103,265,447 | (111,182,825 ) | 500,839,283 | (113,064,885 ) |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (11,930,274 ) | (27,379,101 ) | (56,672,611 ) | (46,042,619 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | (113,797,848 ) | (598,208,666 ) | (417,062,357 ) | 750,358,066 |
NET ASSETS | ||||
Total increase (decrease) in net assets | (22,462,675 ) | (736,770,592 ) | 27,104,315 | 591,250,562 |
Beginning of year | 425,374,729 | 1,162,145,321 | 4,083,255,877 | 3,492,005,315 |
End of year | $402,912,054 | $425,374,729 | $4,110,360,192 | $4,083,255,877 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Global Industrials ETF | iShares Global Materials ETF | |||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/24 | Year Ended 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $6,918,914 | $5,326,682 | $7,763,376 | $13,017,394 |
Net realized gain (loss) | 29,825,052 | (8,631,133 ) | (4,949,670 ) | (12,741,655 ) |
Net change in unrealized appreciation (depreciation) | 74,686,942 | (3,808,019 ) | 21,468,944 | (79,806,887 ) |
Net increase (decrease) in net assets resulting from operations | 111,430,908 | (7,112,470 ) | 24,282,650 | (79,531,148 ) |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (7,992,250 ) | (5,234,413 ) | (8,736,928 ) | (22,752,409 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | 131,179,158 | (27,176,051 ) | (107,132,459 ) | (273,573,823 ) |
NET ASSETS | ||||
Total increase (decrease) in net assets | 234,617,816 | (39,522,934 ) | (91,586,737 ) | (375,857,380 ) |
Beginning of year | 336,958,180 | 376,481,114 | 351,170,184 | 727,027,564 |
End of year | $571,575,996 | $336,958,180 | $259,583,447 | $351,170,184 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Global Tech ETF | iShares Global Utilities ETF | |||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/24 | Year Ended 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $22,334,525 | $25,012,577 | $4,785,907 | $4,990,892 |
Net realized gain (loss) | 315,883,453 | 482,657,182 | (2,322,582 ) | (3,520,341 ) |
Net change in unrealized appreciation (depreciation) | 915,415,208 | (988,068,765 ) | (2,190,208 ) | (15,202,838 ) |
Net increase (decrease) in net assets resulting from operations | 1,253,633,186 | (480,399,006 ) | 273,117 | (13,732,287 ) |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (22,141,169 ) | (23,649,568 ) | (4,697,007 ) | (5,088,399 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | 196,876,690 | (1,320,298,332 ) | (7,699,045 ) | (25,424,599 ) |
NET ASSETS | ||||
Total increase (decrease) in net assets | 1,428,368,707 | (1,824,346,906 ) | (12,122,935 ) | (44,245,285 ) |
Beginning of year | 3,177,616,171 | 5,001,963,077 | 136,156,384 | 180,401,669 |
End of year | $4,605,984,878 | $3,177,616,171 | $124,033,449 | $136,156,384 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Global Comm Services ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $64.14 | $73.93 | $80.09 | $51.81 | $56.22 |
Net investment income(a) | 0.83 (b) | 0.71 (b) | 0.74 (b) | 0.66 | 0.78 |
Net realized and unrealized gain (loss)(c) | 20.17 | (9.72 ) | (5.42 ) | 28.33 | (3.85 ) |
Net increase (decrease) from investment operations | 21.00 | (9.01 ) | (4.68 ) | 28.99 | (3.07 ) |
Distributions from net investment income(d) | (0.93 ) | (0.78 ) | (1.48 ) | (0.71 ) | (1.34 ) |
Net asset value, end of year | $84.21 | $64.14 | $73.93 | $80.09 | $51.81 |
Total Return(e) | |||||
Based on net asset value | 33.04 %(b) | (12.16 )%(b) | (6.03 )%(b) | 56.20 % | (5.70 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.41 % | 0.42 % | 0.43 % | 0.43 % | 0.46 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.41 % | 0.41 % | 0.41 % | N/A | N/A |
Net investment income | 1.17 %(b) | 1.18 %(b) | 0.89 %(b) | 0.96 % | 1.34 % |
Supplemental Data | |||||
Net assets, end of year (000) | $273,678 | $256,540 | $240,270 | $320,380 | $225,363 |
Portfolio turnover rate(g) | 19 % | 14 % | 18 % | 13 % | 24 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31, 2024, March 31, 2023 and March 31, 2022 respectively: •Net investment income per share by $0.01, $0.03 and $0.10. • Total return by 0.02%, 0.05% and 0.15%. • Ratio of net investment income to average net assets by 0.01%, 0.06% and 0.12%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Consumer Discretionary ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $145.20 | $156.03 | $162.55 | $95.12 | $113.27 |
Net investment income(a) | 1.63 (b) | 1.58 (b) | 1.02 (b) | 1.06 | 1.75 |
Net realized and unrealized gain (loss)(c) | 22.62 | (11.15 ) | (5.95 ) | 67.38 | (18.03 ) |
Net increase (decrease) from investment operations | 24.25 | (9.57 ) | (4.93 ) | 68.44 | (16.28 ) |
Distributions from net investment income(d) | (1.59 ) | (1.26 ) | (1.59 ) | (1.01 ) | (1.87 ) |
Net asset value, end of year | $167.86 | $145.20 | $156.03 | $162.55 | $95.12 |
Total Return(e) | |||||
Based on net asset value | 16.82 %(b) | (6.12 )%(b) | (3.13 )%(b) | 72.21 % | (14.71 )%(f) |
Ratios to Average Net Assets(g) | |||||
Total expenses | 0.41 % | 0.41 % | 0.40 % | 0.43 % | 0.46 % |
Net investment income | 1.07 %(b) | 1.17 %(b) | 0.60 %(b) | 0.75 % | 1.47 % |
Supplemental Data | |||||
Net assets, end of year (000) | $268,570 | $304,917 | $358,865 | $430,745 | $156,949 |
Portfolio turnover rate(h) | 13 % | 17 % | 12 % | 34 % | 17 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31, 2024, March 31, 2023 and March 31, 2022 respectively: • Net investment income per share by $0.02, $0.01 and $0.03. • Total return by 0.02%, 0.00% and 0.02%. • Ratio of net investment income to average net assets by 0.01%, 0.01% and 0.02%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Includes payment received from an affiliate, which had no impact on the Fund’s total return. | |||||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(h) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Consumer Staples ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $61.84 | $62.11 | $58.11 | $47.96 | $51.67 |
Net investment income(a) | 1.51 | 1.29 (b) | 1.37 | 1.34 | 1.18 |
Net realized and unrealized gain (loss)(c) | (0.55 ) | (0.38 ) | 4.09 | 10.17 | (3.69 ) |
Net increase (decrease) from investment operations | 0.96 | 0.91 | 5.46 | 11.51 | (2.51 ) |
Distributions from net investment income(d) | (1.77 ) | (1.18 ) | (1.46 ) | (1.36 ) | (1.20 ) |
Net asset value, end of year | $61.03 | $61.84 | $62.11 | $58.11 | $47.96 |
Total Return(e) | |||||
Based on net asset value | 1.72 % | 1.56 %(b) | 9.42 % | 24.21 % | (5.10 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.41 % | 0.41 % | 0.40 % | 0.43 % | 0.46 % |
Net investment income | 2.50 % | 2.18 %(b) | 2.22 % | 2.46 % | 2.21 % |
Supplemental Data | |||||
Net assets, end of year (000) | $869,746 | $1,536,679 | $1,021,775 | $525,907 | $683,380 |
Portfolio turnover rate(g) | 11 % | 13 % | 8 % | 7 % | 7 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended March 31, 2023: • Net investment income per share by $0.00. • Total return by 0.01%. • Ratio of net investment income to average net assets by 0.01%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Energy ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $37.71 | $36.12 | $24.63 | $17.06 | $33.70 |
Net investment income(a) | 1.55 | 1.89 (b) | 1.22 | 0.94 | 1.13 |
Net realized and unrealized gain (loss)(c) | 5.00 | 1.56 | 11.37 | 7.62 | (15.61 ) |
Net increase (decrease) from investment operations | 6.55 | 3.45 | 12.59 | 8.56 | (14.48 ) |
Distributions from net investment income(d) | (1.35 ) | (1.86 ) | (1.10 ) | (0.99 ) | (2.16 ) |
Net asset value, end of year | $42.91 | $37.71 | $36.12 | $24.63 | $17.06 |
Total Return(e) | |||||
Based on net asset value | 17.88 % | 9.39 %(b) | 52.61 % | 51.36 % | (45.73 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.41 % | 0.44 % | 0.40 % | 0.43 % | 0.46 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.41 % | 0.41 % | N/A | N/A | N/A |
Net investment income | 3.95 % | 5.03 %(b) | 4.33 % | 4.65 % | 3.78 % |
Supplemental Data | |||||
Net assets, end of year (000) | $3,360,235 | $1,798,776 | $2,280,843 | $1,308,021 | $616,818 |
Portfolio turnover rate(g) | 7 % | 10 % | 6 % | 5 % | 7 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended March 31, 2023: • Net investment income per share by $0.07. • Total return by 0.24%. • Ratio of net investment income to average net assets by 0.18%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Financials ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $69.17 | $79.60 | $73.29 | $47.23 | $61.61 |
Net investment income(a) | 1.93 (b) | 2.19 (b) | 1.65 (b) | 1.36 | 1.71 |
Net realized and unrealized gain (loss)(c) | 17.61 | (10.01 ) | 6.01 | 26.09 | (14.12 ) |
Net increase (decrease) from investment operations | 19.54 | (7.82 ) | 7.66 | 27.45 | (12.41 ) |
Distributions from net investment income(d) | (2.06 ) | (2.61 ) | (1.35 ) | (1.39 ) | (1.97 ) |
Net asset value, end of year | $86.65 | $69.17 | $79.60 | $73.29 | $47.23 |
Total Return(e) | |||||
Based on net asset value | 28.85 %(b) | (9.86 )%(b)(f) | 10.48 %(b) | 58.99 % | (20.99 )%(g) |
Ratios to Average Net Assets(h) | |||||
Total expenses | 0.41 % | 0.42 % | 0.40 % | 0.43 % | 0.46 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.41 % | 0.41 % | 0.40 % | 0.43 % | N/A |
Net investment income | 2.61 %(b) | 3.12 %(b) | 2.07 %(b) | 2.28 % | 2.66 % |
Supplemental Data | |||||
Net assets, end of year (000) | $402,912 | $425,375 | $1,162,145 | $472,743 | $203,073 |
Portfolio turnover rate(i) | 5 % | 13 % | 12 % | 4 % | 7 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31, 2024, March 31, 2023 and March 31, 2022 respectively: • Net investment income per share by $0.01, $0.03 and $0.01. • Total return by 0.01%, 0.06% and 0.02%. • Ratio of net investment income to average net assets by 0.01%, 0.04% and 0.01%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Includes proceeds received from a class action litigation, which impacted the Fund’s total return. Not including these proceeds, the Fund’s total return would have been (9.92)% for the year ended March 31, 2023. | |||||
(g) Includes payment received from an affiliate, which had no impact on the Fund’s total return. | |||||
(h) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Healthcare ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $83.42 | $87.41 | $76.96 | $60.95 | $61.13 |
Net investment income(a) | 1.18 (b) | 1.11 (b) | 1.07 | 1.02 | 0.96 |
Net realized and unrealized gain (loss)(c) | 9.70 | (4.11 ) | 10.39 | 15.96 | (0.16 ) |
Net increase (decrease) from investment operations | 10.88 | (3.00 ) | 11.46 | 16.98 | 0.80 |
Distributions from net investment income(d) | (1.20 ) | (0.99 ) | (1.01 ) | (0.97 ) | (0.98 ) |
Net asset value, end of year | $93.10 | $83.42 | $87.41 | $76.96 | $60.95 |
Total Return(e) | |||||
Based on net asset value | 13.22 %(b) | (3.44 )%(b) | 14.94 % | 28.03 % | 1.23 % |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.41 % | 0.42 % | 0.40 % | 0.43 % | 0.46 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.41 % | 0.41 % | N/A | N/A | N/A |
Net investment income | 1.38 %(b) | 1.34 %(b) | 1.27 % | 1.41 % | 1.52 % |
Supplemental Data | |||||
Net assets, end of year (000) | $4,110,360 | $4,083,256 | $3,492,005 | $2,705,201 | $1,947,392 |
Portfolio turnover rate(g) | 3 % | 3 % | 4 % | 5 % | 5 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31, 2024 and March 31, 2023 respectively: • Net investment income per share by $0.00 and $0.01. • Total return by 0.01% and 0.01%. • Ratio of net investment income to average net assets by 0.01% and 0.01%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Industrials ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $114.22 | $115.84 | $115.74 | $71.50 | $88.88 |
Net investment income(a) | 1.80 | 1.77 (b) | 1.53 (b) | 1.32 | 1.61 |
Net realized and unrealized gain (loss)(c) | 25.73 | (1.65 ) | 0.32 | 44.27 | (17.32 ) |
Net increase (decrease) from investment operations | 27.53 | 0.12 | 1.85 | 45.59 | (15.71 ) |
Distributions from net investment income(d) | (2.34 ) | (1.74 ) | (1.75 ) | (1.35 ) | (1.67 ) |
Net asset value, end of year | $139.41 | $114.22 | $115.84 | $115.74 | $71.50 |
Total Return(e) | |||||
Based on net asset value | 24.45 % | 0.22 %(b) | 1.54 %(b) | 64.27 % | (18.08 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.41 % | 0.42 % | 0.41 % | 0.43 % | 0.46 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.41 % | 0.41 % | 0.40 % | 0.43 % | N/A |
Net investment income | 1.49 % | 1.69 %(b) | 1.27 %(b) | 1.34 % | 1.75 % |
Supplemental Data | |||||
Net assets, end of year (000) | $571,576 | $336,958 | $376,481 | $422,466 | $146,580 |
Portfolio turnover rate(g) | 9 % | 9 % | 7 % | 8 % | 5 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31, 2023 and March 31, 2022 respectively: • Net investment income per share by $0.02 and $0.05. • Total return by 0.01% and 0.05%. • Ratio of net investment income to average net assets by 0.01% and 0.04%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Materials ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $83.61 | $93.81 | $86.59 | $49.67 | $64.22 |
Net investment income(a) | 2.29 (b) | 2.60 (b) | 3.16 (b) | 2.07 | 1.54 |
Net realized and unrealized gain (loss)(c) | 6.16 | (9.00 ) | 7.23 | 35.84 | (13.63 ) |
Net increase (decrease) from investment operations | 8.45 | (6.40 ) | 10.39 | 37.91 | (12.09 ) |
Distributions from net investment income(d) | (2.55 ) | (3.80 ) | (3.17 ) | (0.99 ) | (2.46 ) |
Net asset value, end of year | $89.51 | $83.61 | $93.81 | $86.59 | $49.67 |
Total Return(e) | |||||
Based on net asset value | 10.40 %(b) | (6.77 )%(b) | 12.19 %(b) | 76.78 % | (19.66 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.42 % | 0.41 % | 0.40 % | 0.43 % | 0.45 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.41 % | 0.41 % | 0.40 % | N/A | N/A |
Net investment income | 2.79 %(b) | 3.20 %(b) | 3.48 %(b) | 2.76 % | 2.43 % |
Supplemental Data | |||||
Net assets, end of year (000) | $259,583 | $351,170 | $727,028 | $722,999 | $129,132 |
Portfolio turnover rate(g) | 5 % | 9 % | 6 % | 4 % | 12 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31,2024, March 31, 2023 and March 31, 2022 respectively: • Net investment income per share by $0.05, $0.00 and $0.01. • Total return by 0.07%, 0.01% and (0.01%). • Ratio of net investment income to average net assets by 0.06%, 0.00% and 0.01%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Tech ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22(a) | Year Ended 03/31/21(a) | Year Ended 03/31/20(a) | |
Net asset value, beginning of year | $54.36 | $57.86 | $51.13 | $30.49 | $28.48 |
Net investment income(b) | 0.38 | 0.37 (c) | 0.29 (c) | 0.33 | 0.38 |
Net realized and unrealized gain (loss)(d) | 20.60 | (3.51 ) | 6.81 | 20.62 | 2.00 |
Net increase (decrease) from investment operations | 20.98 | (3.14 ) | 7.10 | 20.95 | 2.38 |
Distributions from net investment income(e) | (0.38 ) | (0.36 ) | (0.37 ) | (0.31 ) | (0.37 ) |
Net asset value, end of year | $74.96 | $54.36 | $57.86 | $51.13 | $30.49 |
Total Return(f) | |||||
Based on net asset value | 38.70 % | (5.34 )%(c) | 13.89 %(c) | 68.97 % | 8.33 % |
Ratios to Average Net Assets(g) | |||||
Total expenses | 0.41 % | 0.41 % | 0.40 % | 0.43 % | 0.46 % |
Net investment income | 0.59 % | 0.77 %(c) | 0.50 %(c) | 0.75 % | 1.21 % |
Supplemental Data | |||||
Net assets, end of year (000) | $4,605,985 | $3,177,616 | $5,001,963 | $5,046,541 | $2,752,872 |
Portfolio turnover rate(h) | 11 % | 12 % | 7 % | 4 % | 7 % |
(a) Per share amounts reflect a six-for-one stock split effective after the close of trading on July 16, 2021. | |||||
(b) Based on average shares outstanding. | |||||
(c) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended March 31, 2023 and March 31,2022 respectively: • Net investment income per share by $0.00 and $0.00. • Total return by 0.01% and 0.01%. • Ratio of net investment income to average net assets by 0.00% and 0.00%. | |||||
(d) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(e) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(f) Where applicable, assumes the reinvestment of distributions. | |||||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(h) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Global Utilities ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $60.51 | $65.60 | $60.51 | $50.71 | $54.08 |
Net investment income(a) | 2.13 (b) | 1.86 (b) | 1.81 | 1.71 | 1.62 |
Net realized and unrealized gain (loss)(c) | (1.49 ) | (5.06 ) | 5.08 | 9.68 | (2.98 ) |
Net increase (decrease) from investment operations | 0.64 | (3.20 ) | 6.89 | 11.39 | (1.36 ) |
Distributions from net investment income(d) | (2.09 ) | (1.89 ) | (1.80 ) | (1.59 ) | (2.01 ) |
Net asset value, end of year | $59.06 | $60.51 | $65.60 | $60.51 | $50.71 |
Total Return(e) | |||||
Based on net asset value | 1.15 %(b) | (4.93 )%(b) | 11.59 % | 22.70 % | (2.84 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.50 % | 0.43 % | 0.42 % | 0.43 % | 0.46 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.41 % | 0.41 % | N/A | N/A | N/A |
Net investment income | 3.67 %(b) | 3.06 %(b) | 2.91 % | 3.03 % | 2.87 % |
Supplemental Data | |||||
Net assets, end of year (000) | $124,033 | $136,156 | $180,402 | $151,268 | $152,123 |
Portfolio turnover rate(g) | 6 % | 9 % | 9 % | 7 % | 6 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31, 2024 and March 31, 2023 respectively: • Net investment income per share by $0.31 and $0.06. • Total return by 0.56% and 0.12%. • Ratio of net investment income to average net assets by 0.53% and 0.11%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares ETF | Diversification Classification |
Global Comm Services | Non-diversified |
Global Consumer Discretionary | Diversified |
Global Consumer Staples | Diversified |
Global Energy | Non-diversified |
Global Financials | Diversified |
Global Healthcare | Diversified |
Global Industrials | Diversified |
Global Materials | Diversified |
Global Tech | Non-diversified |
Global Utilities | Diversified |
iShares ETF and Counterparty | Securities Loaned at Value | Cash Collateral Received(a) | Non-Cash Collateral Received, at Fair Value(a) | Net Amount |
Global Comm Services | ||||
Barclays Bank PLC | $169,958 | $(169,958) | $— | $— |
BofA Securities, Inc. | 35,669 | (35,669) | — | — |
J.P. Morgan Securities LLC | 1,559,145 | (1,559,145) | — | — |
$1,764,772 | $(1,764,772) | $— | $— | |
Global Financials | ||||
Toronto-Dominion Bank | $17,326,682 | $(17,326,682) | $— | $— |
Global Healthcare | ||||
Barclays Bank PLC | $3,750,912 | $(3,750,912) | $— | $— |
Barclays Capital, Inc. | 117,216 | (117,216) | — | — |
BofA Securities, Inc. | 149,184 | (149,184) | — | — |
J.P. Morgan Securities LLC | 1,542,821 | (1,542,821) | — | — |
Jefferies LLC | 52,864 | (52,864) | — | — |
Morgan Stanley | 356,605 | (356,605) | — | — |
National Financial Services LLC | 604,160 | (604,160) | — | — |
Natixis SA | 164,332 | (164,332) | — | — |
SG Americas Securities LLC | 1,478,988 | (1,478,988) | — | — |
UBS AG | 5,467,397 | (5,467,397) | — | — |
Virtu Americas LLC | 305,140 | (305,140) | — | — |
$13,989,619 | $(13,989,619) | $— | $— |
iShares ETF and Counterparty | Securities Loaned at Value | Cash Collateral Received(a) | Non-Cash Collateral Received, at Fair Value(a) | Net Amount |
Global Industrials | ||||
Goldman Sachs & Co. LLC | $802,053 | $(802,053) | $— | $— |
J.P. Morgan Securities LLC | 572,370 | (572,370) | — | — |
Scotia Capital (USA), Inc. | 3,154 | (3,154) | — | — |
Toronto-Dominion Bank | 717,253 | (717,253) | — | — |
$2,094,830 | $(2,094,830) | $— | $— | |
Global Materials | ||||
Morgan Stanley | $700,532 | $(700,532) | $— | $— |
Natixis SA | 306,970 | (306,970) | — | — |
$1,007,502 | $(1,007,502) | $— | $— | |
Global Tech | ||||
Barclays Bank PLC | $252,863 | $(252,863) | $— | $— |
BofA Securities, Inc. | 2,596,019 | (2,596,019) | — | — |
Morgan Stanley | 859,079 | (859,079) | — | — |
Scotia Capital (USA), Inc. | 9,527,741 | (9,527,741) | — | — |
SG Americas Securities LLC | 1,681,622 | (1,681,622) | — | — |
Wells Fargo Bank N.A. | 1,992,641 | (1,992,641) | — | — |
$16,909,965 | $(16,909,965) | $— | $— |
(a) | Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund’s Statements of Assets and Liabilities. |
Aggregate Average Daily Net Assets | Investment Advisory Fees |
First $10 billion | 0.4800% |
Over $10 billion, up to and including $20 billion | 0.4300 |
Over $20 billion, up to and including $30 billion | 0.3800 |
Over $30 billion, up to and including $40 billion | 0.3420 |
Over $40 billion | 0.3078 |
iShares ETF | Amounts |
Global Comm Services | $1,651 |
Global Consumer Discretionary | 4,500 |
Global Consumer Staples | 1,482 |
Global Energy | 1,522 |
Global Financials | 7,141 |
Global Healthcare | 37,052 |
Global Industrials | 4,274 |
Global Materials | 942 |
Global Tech | 12,823 |
Global Utilities | 20 |
iShares ETF | Purchases | Sales | Net Realized Gain (Loss) |
Global Comm Services | $22,019,065 | $9,041,812 | $(1,777,879) |
Global Consumer Discretionary | 11,445,718 | 16,208,079 | (3,022,329) |
Global Consumer Staples | 26,896,042 | 38,977,440 | (139,021) |
Global Energy | 40,506,388 | 12,023,553 | (426,603) |
Global Financials | 3,921,648 | 1,346,313 | (459,968) |
Global Healthcare | 29,956,297 | 9,538,234 | (2,314,916) |
Global Industrials | 17,646,698 | 6,098,117 | (675,560) |
Global Materials | 2,368,128 | 1,550,664 | (296,557) |
Global Tech | 104,950,420 | 126,515,693 | 12,564,487 |
Global Utilities | 674,397 | 1,064,623 | (155,904) |
iShares ETF | Purchases | Sales |
Global Comm Services | $58,277,872 | $54,546,573 |
Global Consumer Discretionary | 41,875,470 | 39,765,755 |
Global Consumer Staples | 134,748,749 | 142,279,469 |
Global Energy | 240,383,829 | 172,623,113 |
Global Financials | 19,590,736 | 24,829,369 |
Global Healthcare | 139,391,442 | 143,322,721 |
Global Industrials | 48,464,412 | 43,707,555 |
Global Materials | 14,951,819 | 19,953,693 |
Global Tech | 436,364,363 | 403,417,594 |
Global Utilities | 8,138,772 | 8,495,218 |
iShares ETF | In-kind Purchases | In-kind Sales |
Global Comm Services | $63,710,737 | $127,370,976 |
Global Consumer Discretionary | 69,835,127 | 149,902,103 |
Global Consumer Staples | 88,092,337 | 689,064,226 |
Global Energy | 1,400,843,324 | 191,901,040 |
Global Financials | 9,813,350 | 118,563,004 |
Global Healthcare | 364,967,563 | 775,782,799 |
Global Industrials | 382,100,557 | 257,530,981 |
Global Materials | — | 102,461,481 |
Global Tech | 639,711,270 | 480,735,163 |
Global Utilities | 14,486,497 | 22,009,884 |
iShares ETF | Paid-in Capital | Accumulated Earnings (Loss) |
Global Comm Services | $25,717,072 | $ (25,717,072) |
Global Consumer Discretionary | 21,679,387 | (21,679,387) |
Global Consumer Staples | 55,490,349 | (55,490,349) |
Global Energy | 49,071,625 | (49,071,625) |
Global Financials | (1,190,935) | 1,190,935 |
Global Healthcare | 294,337,568 | (294,337,568) |
Global Industrials | 34,167,366 | (34,167,366) |
Global Materials | (4,312,564) | 4,312,564 |
Global Tech | 276,362,516 | (276,362,516) |
Global Utilities | (772,597) | 772,597 |
iShares ETF | Year Ended 03/31/24 | Year Ended 03/31/23 |
Global Comm Services | ||
Ordinary income | $4,000,936 | $2,680,016 |
Global Consumer Discretionary | ||
Ordinary income | $3,556,029 | $3,272,046 |
Global Consumer Staples | ||
Ordinary income | $32,801,353 | $24,794,345 |
Global Energy | ||
Ordinary income | $82,209,822 | $103,333,626 |
Global Financials | ||
Ordinary income | $11,930,274 | $27,379,101 |
Global Healthcare | ||
Ordinary income | $56,672,611 | $46,042,619 |
Global Industrials | ||
Ordinary income | $7,992,250 | $5,234,413 |
Global Materials | ||
Ordinary income | $8,736,928 | $22,752,409 |
Global Tech | ||
Ordinary income | $22,141,169 | $23,649,568 |
Global Utilities | ||
Ordinary income | $4,697,007 | $5,088,399 |
iShares ETF | Undistributed Ordinary Income | Non-expiring Capital Loss Carryforwards(a) | Net Unrealized Gains (Losses)(b) | Total |
Global Comm Services | $1,727,357 | $(122,072,728) | $21,353,047 | $(98,992,324) |
Global Consumer Discretionary | 836,403 | (46,965,589) | (14,210,679) | (60,339,865) |
Global Consumer Staples | 4,213,871 | (58,392,497) | (43,230,085) | (97,408,711) |
Global Energy | 28,740,689 | (235,409,446) | 329,209,953 | 122,541,196 |
Global Financials | 2,759,276 | (148,338,533) | 30,411,871 | (115,167,386) |
Global Healthcare | 18,826,967 | (114,758,921) | 637,419,902 | 541,487,948 |
Global Industrials | 3,818,771 | (37,292,584) | 55,589,373 | 22,115,560 |
Global Materials | 1,995,113 | (100,357,533) | (26,028,917) | (124,391,337) |
Global Tech | 5,652,136 | (77,794,979) | 1,538,860,556 | 1,466,717,713 |
Global Utilities | 934,664 | (47,985,762) | (21,429,955) | (68,481,053) |
(a) | Amounts available to offset future realized capital gains. |
(b) | The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains (losses) on certain futures contracts, timing and recognition of partnership income, characterization of corporate actions, the realization for tax purposes of unrealized gains on investments in passive foreign investment companies and foreign tax withholding reclaims. |
iShares ETF | Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) |
Global Comm Services | $253,741,470 | $52,252,955 | $(30,898,302) | $21,354,653 |
Global Consumer Discretionary | 282,091,557 | 35,376,977 | (49,586,120) | (14,209,143) |
Global Consumer Staples | 908,144,933 | 56,570,033 | (99,795,144) | (43,225,111) |
Global Energy | 3,024,433,241 | 410,398,869 | (81,109,365) | 329,289,504 |
Global Financials | 387,347,226 | 58,681,016 | (28,234,785) | 30,446,231 |
Global Healthcare | 3,481,373,509 | 954,103,595 | (316,668,061) | 637,435,534 |
Global Industrials | 516,200,435 | 87,030,774 | (31,438,701) | 55,592,073 |
Global Materials | 284,717,141 | 29,127,565 | (55,139,510) | (26,011,945) |
Global Tech | 3,077,975,660 | 1,602,117,894 | (63,219,805) | 1,538,898,089 |
Global Utilities | 145,741,634 | 6,225,040 | (27,654,305) | (21,429,265) |
Year Ended 03/31/24 | Year Ended 03/31/23 | |||
iShares ETF | Shares | Amount | Shares | Amount |
Global Comm Services | ||||
Shares sold | 1,050,000 | $70,803,943 | 5,000,000 | $285,678,262 |
Shares redeemed | (1,800,000 ) | (130,277,105 ) | (4,250,000 ) | (239,036,433 ) |
(750,000 ) | $(59,473,162 ) | 750,000 | $46,641,829 | |
Global Consumer Discretionary | ||||
Shares sold | 500,000 | $75,030,094 | 1,950,000 | $257,608,569 |
Shares redeemed | (1,000,000 ) | (152,997,067 ) | (2,150,000 ) | (280,455,814 ) |
(500,000 ) | $(77,966,973 ) | (200,000 ) | $(22,847,245 ) | |
Global Consumer Staples | ||||
Shares sold | 1,550,000 | $95,917,046 | 10,150,000 | $606,139,893 |
Shares redeemed | (12,150,000 ) | (704,991,233 ) | (1,750,000 ) | (103,585,196 ) |
(10,600,000 ) | $(609,074,187 ) | 8,400,000 | $502,554,697 | |
Global Energy | ||||
Shares sold | 35,850,000 | $1,467,497,318 | 10,350,000 | $380,017,898 |
Shares redeemed | (5,250,000 ) | (201,047,924 ) | (25,800,000 ) | (945,635,510 ) |
30,600,000 | $1,266,449,394 | (15,450,000 ) | $(565,617,612 ) | |
Global Financials | ||||
Shares sold | 150,000 | $10,829,795 | 1,500,000 | $109,276,663 |
Shares redeemed | (1,650,000 ) | (124,627,643 ) | (9,950,000 ) | (707,485,329 ) |
(1,500,000 ) | $(113,797,848 ) | (8,450,000 ) | $(598,208,666 ) | |
Global Healthcare | ||||
Shares sold | 4,350,000 | $370,453,969 | 16,250,000 | $1,349,795,290 |
Shares redeemed | (9,150,000 ) | (787,516,326 ) | (7,250,000 ) | (599,437,224 ) |
(4,800,000 ) | $(417,062,357 ) | 9,000,000 | $750,358,066 | |
Global Industrials | ||||
Shares sold | 3,400,000 | $397,639,289 | 900,000 | $96,114,001 |
Shares redeemed | (2,250,000 ) | (266,460,131 ) | (1,200,000 ) | (123,290,052 ) |
1,150,000 | $131,179,158 | (300,000 ) | $(27,176,051 ) | |
Global Materials | ||||
Shares sold | — | $11,870 | 800,000 | $67,400,271 |
Shares redeemed | (1,300,000 ) | (107,144,329 ) | (4,350,000 ) | (340,974,094 ) |
(1,300,000 ) | $(107,132,459 ) | (3,550,000 ) | $(273,573,823 ) | |
Global Tech | ||||
Shares sold | 11,000,000 | $731,982,412 | 3,700,000 | $189,510,660 |
Shares redeemed | (8,000,000 ) | (535,105,722 ) | (31,700,000 ) | (1,509,808,992 ) |
3,000,000 | $196,876,690 | (28,000,000 ) | $(1,320,298,332 ) | |
Global Utilities | ||||
Shares sold | 250,000 | $14,846,670 | 500,000 | $32,654,633 |
Shares redeemed | (400,000 ) | (22,545,715 ) | (1,000,000 ) | (58,079,232 ) |
(150,000 ) | $(7,699,045 ) | (500,000 ) | $(25,424,599 ) |
iShares Trust and Shareholders of each of the ten funds listed in the table below
iShares Global Comm Services ETF |
iShares Global Consumer Discretionary ETF |
iShares Global Consumer Staples ETF |
iShares Global Energy ETF |
iShares Global Financials ETF |
iShares Global Healthcare ETF |
iShares Global Industrials ETF |
iShares Global Materials ETF |
iShares Global Tech ETF |
iShares Global Utilities ETF |
Philadelphia, Pennsylvania
May 23, 2024
iShares ETF | Qualified Dividend Income |
Global Comm Services | $4,294,652 |
Global Consumer Discretionary | 4,652,699 |
Global Consumer Staples | 36,077,763 |
Global Energy | 106,192,308 |
Global Financials | 12,527,084 |
Global Healthcare | 74,763,826 |
Global Industrials | 8,818,433 |
Global Materials | 8,868,441 |
Global Tech | 33,366,756 |
Global Utilities | 4,968,186 |
iShares ETF | Foreign Source Income Earned | Foreign Taxes Paid |
Global Materials | $7,459,828 | $274,410 |
iShares ETF | Dividends-Received Deduction |
Global Comm Services | 49.75 % |
Global Consumer Discretionary | 49.98 % |
Global Consumer Staples | 67.55 % |
Global Energy | 50.73 % |
Global Financials | 35.42 % |
Global Healthcare | 83.99 % |
Global Industrials | 46.76 % |
Global Materials | 20.87 % |
Global Tech | 100.00 % |
Global Utilities | 57.17 % |
Total Cumulative Distributions for the Fiscal Year | % Breakdown of the Total Cumulative Distributions for the Fiscal Year | |||||||
iShares ETF | Net Investment Income | Net Realized Capital Gains | Return of Capital | Total Per Share | Net Investment Income | Net Realized Capital Gains | Return of Capital | Total Per Share |
Global Comm Services | $0.926120 | $— | $— | $0.926120 | 100% | —% | —% | 100% |
Global Energy | 1.349103 | — | — | 1.349103 | 100 | — | — | 100 |
Global Financials(a) | 2.003790 | — | 0.055871 | 2.059661 | 97 | — | 3 | 100 |
Global Healthcare(a) | 1.158984 | — | 0.040840 | 1.199824 | 97 | — | 3 | 100 |
Global Industrials(a) | 2.261268 | — | 0.081287 | 2.342555 | 97 | — | 3 | 100 |
(a) | The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder's investment in the Fund is returned to the shareholder. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. When distributions exceed total return performance, the difference will incrementally reduce the Fund’s net asset value per share. |
Interested Trustees | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
Robert S. Kapito(a) (1957) | Trustee (since 2009). | President of BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). |
Stephen Cohen(b) (1975) | Trustee (since 2024). | Senior Managing Director, Head of Global Product Solutions of BlackRock, Inc. (since 2024); Senior Managing Director, Head of Europe, Middle East and Africa Regions of BlackRock, Inc. (2021-2024); Head of iShares Index and Wealth in EMEA of BlackRock, Inc. (2017-2021); Global Head of Fixed Income Indexing of BlackRock, Inc. (2016-2017); Chief Investment Strategist for International Fixed Income and iShares of BlackRock, Inc. (2011-2015). | Director of iShares, Inc. (since 2024); Trustee of iShares U.S. ETF Trust (since 2024). |
(a) Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. | |||
(b) Stephen Cohen is deemed to be an "interested person" (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Independent Trustees | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
John E. Kerrigan (1955) | Trustee (since 2005); Independent Board Chair (since 2022). | Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2022). |
Jane D. Carlin (1956) | Trustee (since 2015); Risk Committee Chair (since 2016). | Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016), Chair of the Audit Committee (since 2020) and Director of The Hanover Insurance Group, Inc. (since 2016). |
Richard L. Fagnani (1954) | Trustee (since 2017); Audit Committee Chair (since 2019). | Partner, KPMG LLP (2002-2016); Director of One Generation Away (since 2021). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). |
Independent Trustees (continued) | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
Cecilia H. Herbert (1949) | Trustee (since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2022). | Chair of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York’s public media company (since 2011) and Member of the Audit Committee (since 2018), Investment Committee (since 2011) and Personnel Committee (since 2022); Member of the Wyoming State Investment Funds Committee (since 2022); Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios) (2015-2018); Director of the Jackson Hole Center for the Arts (since 2021). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). |
Drew E. Lawton (1959) | Trustee (since 2017); 15(c) Committee Chair (since 2017). | Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017); Director of Jackson Financial Inc. (since 2021). |
John E. Martinez (1961) | Trustee (since 2003); Securities Lending Committee Chair (since 2019). | Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (2017-2020); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). |
Madhav V. Rajan (1964) | Trustee (since 2011); Fixed-Income Plus Committee Chair (since 2019). | Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Advisory Board Member (since 2016) and Director (since 2020) of C.M. Capital Corporation; Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Director of WellBe Senior Medical (since 2023); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). | Director of iShares, Inc. (since 2011); Trustee of iShares U.S. ETF Trust (since 2011). |
Officers | ||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years |
Jessica Tan (1980) | President (since 2024). | Managing Director of BlackRock, Inc. (since 2015); Head of Global Product Solutions, Americas of BlackRock, Inc. (since 2024) and Head of Sustainable and Transition Solutions of BlackRock, Inc. (2022-2024); Global Head of Corporate Strategy of BlackRock, Inc. (2019-2022); Chief of Staff to the CEO of BlackRock, Inc. (2017-2019). |
Trent Walker (1974) | Treasurer and Chief Financial Officer (since 2020). | Managing Director of BlackRock, Inc. (since 2019); Chief Financial Officer of iShares Delaware Trust Sponsor LLC, BlackRock Funds, BlackRock Funds II, BlackRock Funds IV, BlackRock Funds V and BlackRock Funds VI (since 2021). |
Aaron Wasserman (1974) | Chief Compliance Officer (iShares, Inc. and iShares Trust, since 2023; iShares U.S. ETF Trust, since 2023). | Managing Director of BlackRock, Inc. (since 2018); Chief Compliance Officer of the BlackRock Multi-Asset Complex, the BlackRock Fixed-Income Complex and the Exchange-Traded Fund Complex (since 2023); Deputy Chief Compliance Officer for the BlackRock Multi-Asset Complex, the BlackRock Fixed-Income Complex and the Exchange-Traded Fund Complex (2014-2023). |
Marisa Rolland (1980) | Secretary (since 2022). | Managing Director of BlackRock, Inc. (since 2023); Director of BlackRock, Inc. (2018-2022). |
Rachel Aguirre (1982) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2018); Head of U.S. iShares Product (since 2022); Head of EII U.S. Product Engineering of BlackRock, Inc. (since 2021); Co-Head of EII’s Americas Portfolio Engineering of BlackRock, Inc. (2020-2021); Head of Developed Markets Portfolio Engineering of BlackRock, Inc. (2016-2019). |
Jennifer Hsui (1976) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2009); Co-Head of Index Equity of BlackRock, Inc. (since 2022). |
Officers (continued) | ||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years |
James Mauro (1970) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2010); Head of Fixed Income Index Investments in the Americas and Head of San Francisco Core Portfolio Management of BlackRock, Inc. (since 2020). |
Effective July 1, 2023, Aaron Wasserman replaced Charles Park as Chief Compliance Officer. |
Effective February 1, 2024, Salim Ramji resigned as Trustee of the Trust. |
Effective March 5, 2024, Stephen Cohen replaced Salim Ramji as Trustee of the Trust. |
Effective March 5, 2024, Dominik Rohé resigned as President of the Trust. |
Effective March 5, 2024, Jessica Tan replaced Dominik Rohé as President of the Trust. |
Effective April 8, 2024, Laura Fergerson was appointed as Trustee of the Trust. |
Effective April 8, 2024, James Lam was appointed as Trustee of the Trust. |
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Portfolio Abbreviation | |
ADR | American Depositary Receipt |
NVS | Non-Voting Shares |
2024 Annual Report |
iShares Trust |
• iShares Asia 50 ETF | AIA | NASDAQ |
• iShares Blockchain and Tech ETF | IBLC | NYSE Arca |
• iShares Emerging Markets Infrastructure ETF | EMIF | NASDAQ |
• iShares Europe ETF | IEV | NYSE Arca |
• iShares Future Metaverse Tech and Communications ETF | IVRS | NYSE Arca |
• iShares India 50 ETF | INDY | NASDAQ |
• iShares International Developed Property ETF | WPS | NYSE Arca |
• iShares International Developed Small Cap Value Factor ETF | ISVL | Cboe BZX |
• iShares International Dividend Growth ETF | IGRO | Cboe BZX |
• iShares Latin America 40 ETF | ILF | NYSE Arca |
President, BlackRock Inc.
Total Returns as of March 31, 2024 | ||
6-Month | 12-Month | |
U.S. large cap equities (S&P 500® Index) | 23.48% | 29.88% |
U.S. small cap equities (Russell 2000® Index) | 19.94 | 19.71 |
International equities (MSCI Europe, Australasia, Far East Index) | 16.81 | 15.32 |
Emerging market equities (MSCI Emerging Markets Index) | 10.42 | 8.15 |
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index) | 2.68 | 5.24 |
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) | 4.88 | (2.44) |
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index) | 5.99 | 1.70 |
Tax-exempt municipal bonds (Bloomberg Municipal Bond Index) | 7.48 | 3.13 |
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index) | 8.73 | 11.15 |
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV(a) | 1.87 % | 2.14 % | 5.14 % | 1.87 % | 11.17 % | 65.10 % | |
Fund Market | 0.72 | 1.88 | 5.05 | 0.72 | 9.76 | 63.69 | |
Index | 1.63 | 2.60 | 5.68 | 1.63 | 13.68 | 73.72 |
(a) | For financial reporting purposes, the market values of certain investments were adjusted as of the report date to reflect a March 29, 2024 price in instances where Asian markets were open for trading on that date. The Fund’s net asset value (“NAV”) was struck as of March 28, 2024, as U.S. markets were closed on March 29, 2024 due to a holiday. Accordingly, the NAV per share presented herein is different than the information previously published as of March 28, 2024. |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,114.90 | $2.64 | $1,000.00 | $1,022.50 | $2.53 | 0.50% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Information Technology | 47.9 % |
Financials | 18.8 |
Communication Services | 13.7 |
Consumer Discretionary | 13.5 |
Materials | 2.0 |
Industrials | 1.6 |
Real Estate | 1.0 |
Other (each representing less than 1%) | 1.5 |
Country/Geographic Region | Percent of Total Investments(a) |
Taiwan | 32.6 % |
China | 32.1 |
South Korea | 24.2 |
Hong Kong | 6.4 |
Singapore | 4.7 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||
1 Year | Since Inception | 1 Year | Since Inception | ||
Fund NAV | 97.56 %(a) | 13.16 % | 97.56 %(a) | 27.02 % | |
Fund Market | 96.36 | 12.97 | 96.36 | 26.60 | |
Index | 96.47 | 12.41 | 96.47 | 25.34 |
(a) | The NAV total return presented in the table for the one-year period differs from the same period return disclosed in the financial highlights. The total return in the financial highlights is calculated in the same manner but differs due to certain adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles. |
(SINCE INCEPTION AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,984.60 | $3.51 | $1,000.00 | $1,022.70 | $2.38 | 0.47% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Information Technology | 71.3 % |
Financials | 27.9 |
Communication Services | 0.8 |
Security | Percent of Total Investments(a) |
Coinbase Global Inc., Class A | 14.7 % |
Cleanspark Inc. | 13.5 |
Marathon Digital Holdings Inc. | 9.5 |
Hut 8 Corp. | 5.3 |
Riot Platforms Inc. | 5.1 |
Cipher Mining Inc. | 4.8 |
Nvidia Corp. | 4.2 |
Mastercard Inc., Class A | 3.9 |
International Business Machines Corp. | 3.8 |
PayPal Holdings Inc. | 3.7 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 4.95 % | (2.37 )% | (1.44 )% | 4.95 % | (11.30 )% | (13.48 )% | |
Fund Market | 5.24 | (2.49 ) | (1.50 ) | 5.24 | (11.83 ) | (13.99 ) | |
Index | 5.43 | (1.93 ) | (0.96 ) | 5.43 | (9.30 ) | (9.15 ) |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,080.80 | $3.12 | $1,000.00 | $1,022.00 | $3.03 | 0.60% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Industrials | 40.8 % |
Utilities | 39.4 |
Energy | 19.8 |
Country/Geographic Region | Percent of Total Investments(a) |
China | 32.9 % |
Brazil | 27.1 |
Mexico | 19.1 |
Thailand | 9.8 |
Qatar | 4.5 |
South Korea | 3.7 |
United Arab Emirates | 2.9 |
Russia | 0.0 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 14.32 % | 8.06 % | 4.37 % | 14.32 % | 47.33 % | 53.34 % | |
Fund Market | 14.59 | 8.08 | 4.36 | 14.59 | 47.47 | 53.23 | |
Index | 14.52 | 8.20 | 4.61 | 14.52 | 48.29 | 56.88 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,173.20 | $3.31 | $1,000.00 | $1,021.90 | $3.08 | 0.61% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Financials | 18.8 % |
Industrials | 16.1 |
Health Care | 15.2 |
Consumer Discretionary | 11.1 |
Consumer Staples | 10.5 |
Information Technology | 8.1 |
Materials | 7.1 |
Energy | 5.6 |
Utilities | 3.7 |
Communication Services | 3.1 |
Real Estate | 0.7 |
Country/Geographic Region | Percent of Total Investments(a) |
United Kingdom | 22.2 % |
France | 18.0 |
Switzerland | 14.5 |
Germany | 13.1 |
Netherlands | 7.8 |
Denmark | 5.6 |
Sweden | 4.7 |
Italy | 4.3 |
Spain | 4.1 |
Ireland | 1.5 |
Belgium | 1.4 |
Finland | 1.2 |
Other (each representing less than 1%) | 1.6 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||
1 Year | Since Inception | 1 Year | Since Inception | ||
Fund NAV | 23.72 %(a) | 25.97 % | 23.72 %(a) | 29.69 % | |
Fund Market | 23.97 | 25.98 | 23.97 | 29.70 | |
Index | 24.26 | 26.45 | 24.26 | 30.21 |
(a) | The NAV total return presented in the table for the one-year period differs from the same period return disclosed in the financial highlights. The total return in the financial highlights is calculated in the same manner but differs due to certain adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles. |
(SINCE INCEPTION AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,185.30 | $2.57 | $1,000.00 | $1,022.70 | $2.38 | 0.47% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Software | 35.2 % |
Entertainment | 34.0 |
Interactive Media & Services | 15.3 |
Household Durables | 7.7 |
Semiconductors & Semiconductor Equipment | 4.2 |
Technology Hardware, Storage & Peripherals | 3.5 |
Communications Equipment | 0.1 |
Security | Percent of Total Investments(a) |
Meta Platforms Inc., Class A | 5.8 % |
Krafton Inc. | 5.1 |
Kuaishou Technology | 4.7 |
Autodesk Inc. | 4.7 |
PTC Inc. | 4.6 |
Ansys Inc. | 4.6 |
Take-Two Interactive Software Inc. | 4.6 |
Sony Group Corp. | 4.6 |
Electronic Arts Inc. | 4.4 |
Unity Software Inc. | 4.4 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 22.73 %(a) | 8.40 % | 8.51 % | 22.73 %(a) | 49.68 % | 126.28 % | |
Fund Market | 23.20 | 8.41 | 8.47 | 23.20 | 49.72 | 125.50 | |
Index | 28.18 | 11.08 | 10.48 | 28.18 | 69.08 | 170.99 |
(a) | The NAV total return presented in the table for the one-year period differs from the same period return disclosed in the financial highlights. The total return in the financial highlights is calculated in the same manner but differs due to certain adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles. |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,119.30 | $4.72 | $1,000.00 | $1,020.60 | $4.50 | 0.89% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Financials | 33.6 % |
Information Technology | 13.0 |
Energy | 12.9 |
Consumer Discretionary | 9.2 |
Consumer Staples | 8.2 |
Industrials | 6.4 |
Materials | 6.2 |
Health Care | 4.4 |
Communication Services | 3.2 |
Utilities | 2.9 |
Security | Percent of Total Investments(a) |
HDFC Bank Ltd. | 11.1 % |
Reliance Industries Ltd. | 10.2 |
ICICI Bank Ltd. | 7.8 |
Infosys Ltd. | 5.4 |
Larsen & Toubro Ltd. | 4.5 |
Tata Consultancy Services Ltd. | 4.0 |
ITC Ltd. | 3.9 |
Bharti Airtel Ltd. | 3.2 |
Axis Bank Ltd. | 3.0 |
State Bank of India | 2.9 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 8.93 %(a) | (2.41 )% | 1.53 % | 8.93 %(a) | (11.46 )% | 16.40 % | |
Fund Market | 8.74 | (2.49 ) | 1.49 | 8.74 | (11.86 ) | 15.92 | |
Index | 9.20 | (2.38 ) | 1.57 | 9.20 | (11.33 ) | 16.86 |
(a) | The NAV total return presented in the table for the one-year period differs from the same period return disclosed in the financial highlights. The total return in the financial highlights is calculated in the same manner but differs due to certain adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles. |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,146.40 | $2.58 | $1,000.00 | $1,022.60 | $2.43 | 0.48% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Industry | Percent of Total Investments(a) |
Diversified Real Estate Activities | 20.6 % |
Real Estate Operating Companies | 20.5 |
Industrial REITs | 15.2 |
Retail REITs | 13.1 |
Diversified REITs | 12.5 |
Office REITs | 6.8 |
Multi-Family Residential REITs | 3.6 |
Real Estate Development | 2.8 |
Health Care REITs | 1.6 |
Hotel & Resort REITs | 1.4 |
Self Storage REITs | 1.2 |
Other (each representing less than 1%) | 0.7 |
Country/Geographic Region | Percent of Total Investments(a) |
Japan | 31.2 % |
Australia | 15.1 |
United Kingdom | 10.0 |
Hong Kong | 8.7 |
Singapore | 7.4 |
Germany | 5.3 |
Sweden | 4.8 |
France | 3.4 |
Canada | 3.4 |
Switzerland | 2.6 |
Israel | 2.4 |
Belgium | 2.4 |
Other (each representing less than 1%) | 3.3 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||
1 Year | Since Inception | 1 Year | Since Inception | ||
Fund NAV | 16.26 % | 4.17 % | 16.26 % | 13.15 % | |
Fund Market | 16.25 | 4.33 | 16.25 | 13.66 | |
Index | 16.54 | 4.33 | 16.54 | 13.67 |
(SINCE INCEPTION AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,175.00 | $1.63 | $1,000.00 | $1,023.50 | $1.52 | 0.30% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Industrials | 23.4 % |
Materials | 17.5 |
Financials | 14.4 |
Consumer Discretionary | 10.0 |
Energy | 7.2 |
Consumer Staples | 6.2 |
Real Estate | 5.9 |
Information Technology | 5.7 |
Health Care | 4.5 |
Communication Services | 3.4 |
Utilities | 1.8 |
Country/Geographic Region | Percent of Total Investments(a) |
Japan | 25.7 % |
Canada | 19.1 |
United Kingdom | 9.3 |
Australia | 8.6 |
Switzerland | 7.7 |
Sweden | 5.9 |
Spain | 3.4 |
Germany | 3.2 |
Finland | 2.6 |
France | 2.2 |
Italy | 2.2 |
Austria | 2.0 |
Netherlands | 1.5 |
Denmark | 1.5 |
Belgium | 1.3 |
Other (each representing less than 1%) | 3.8 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | Since Inception | 1 Year | 5 Years | Since Inception | ||
Fund NAV | 14.46 % | 7.41 % | 7.05 % | 14.46 % | 42.97 % | 70.96 % | |
Fund Market | 14.49 | 7.33 | 7.08 | 14.49 | 42.41 | 71.30 | |
Index | 14.49 | 7.37 | 7.00 | 14.49 | 42.67 | 70.32 |
(SINCE INCEPTION AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,144.00 | $0.86 | $1,000.00 | $1,024.20 | $0.81 | 0.16% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Financials | 24.5 % |
Health Care | 15.7 |
Industrials | 14.4 |
Consumer Staples | 10.6 |
Utilities | 10.0 |
Information Technology | 8.3 |
Materials | 6.2 |
Energy | 3.8 |
Consumer Discretionary | 3.0 |
Communication Services | 2.6 |
Real Estate | 0.9 |
Country/Geographic Region | Percent of Total Investments(a) |
Canada | 20.3 % |
Japan | 19.9 |
Switzerland | 11.6 |
United Kingdom | 8.0 |
Germany | 4.9 |
France | 4.8 |
Denmark | 4.0 |
China | 4.0 |
Italy | 3.9 |
India | 3.4 |
Spain | 3.2 |
Australia | 2.3 |
Hong Kong | 2.0 |
Netherlands | 1.2 |
Sweden | 1.1 |
Taiwan | 1.0 |
Other (each representing less than 1%) | 4.4 |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 24.91 % | 2.94 % | 1.68 % | 24.91 % | 15.60 % | 18.12 % | |
Fund Market | 25.01 | 2.96 | 1.68 | 25.01 | 15.68 | 18.18 | |
Index | 25.36 | 3.24 | 2.06 | 25.36 | 17.28 | 22.67 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,146.60 | $2.58 | $1,000.00 | $1,022.60 | $2.43 | 0.48% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Financials | 34.9 % |
Materials | 19.3 |
Consumer Staples | 14.9 |
Energy | 14.1 |
Industrials | 6.3 |
Communication Services | 4.7 |
Utilities | 2.6 |
Consumer Discretionary | 1.1 |
Health Care | 1.1 |
Real Estate | 1.0 |
Country/Geographic Region | Percent of Total Investments(a) |
Brazil | 59.8 % |
Mexico | 28.6 |
Chile | 5.4 |
Peru | 4.3 |
Colombia | 1.9 |
(a) | Excludes money market funds. |
Security | Shares | Value |
Common Stocks | ||
China — 32.0% | ||
Alibaba Group Holding Ltd. | 8,397,000 | $75,932,611 |
ANTA Sports Products Ltd. | 672,200 | 7,167,541 |
Baidu Inc.(a) | 1,284,200 | 16,905,992 |
Bank of China Ltd., Class H | 47,186,000 | 19,346,754 |
BYD Co. Ltd., Class H | 528,000 | 13,519,465 |
China Construction Bank Corp., Class H | 55,694,960 | 33,610,399 |
China Merchants Bank Co. Ltd., Class H | 1,871,000 | 7,415,740 |
Industrial & Commercial Bank of China Ltd., Class H | 40,167,115 | 20,189,337 |
JD.com Inc. | 1,391,250 | 19,083,602 |
Kuaishou Technology(a)(b) | 1,424,100 | 8,964,138 |
Li Auto Inc.(a) | 659,800 | 10,018,743 |
Meituan, Class B(a)(b) | 2,453,180 | 30,282,283 |
NetEase Inc. | 985,300 | 20,417,016 |
PetroChina Co. Ltd., Class H | 11,940,000 | 10,240,001 |
Ping An Insurance Group Co. of China Ltd., Class H | 3,528,000 | 14,978,762 |
Tencent Holdings Ltd. | 3,465,700 | 134,988,780 |
Trip.com Group Ltd.(a) | 314,500 | 13,945,360 |
Xiaomi Corp., Class B(a)(b) | 8,705,800 | 17,091,896 |
474,098,420 | ||
Hong Kong — 6.4% | ||
AIA Group Ltd. | 6,399,400 | 43,046,032 |
CK Hutchison Holdings Ltd. | 1,517,648 | 7,303,906 |
Hong Kong Exchanges & Clearing Ltd. | 674,500 | 19,653,752 |
Link REIT | 1,446,560 | 6,229,484 |
Sun Hung Kai Properties Ltd. | 853,000 | 8,239,707 |
Techtronic Industries Co. Ltd. | 747,500 | 10,156,925 |
94,629,806 | ||
Singapore — 4.6% | ||
DBS Group Holdings Ltd. | 1,039,900 | 27,752,660 |
Oversea-Chinese Banking Corp. Ltd. | 2,191,674 | 21,898,902 |
United Overseas Bank Ltd. | 868,400 | 18,879,034 |
68,530,596 | ||
South Korea — 22.1% | ||
Celltrion Inc. | 90,064 | 12,298,834 |
Hyundai Motor Co. | 77,822 | 13,694,208 |
KB Financial Group Inc. | 212,398 | 11,099,390 |
Kia Corp. | 142,754 | 11,864,171 |
LG Chem Ltd. | 26,770 | 8,761,957 |
LG Energy Solution(a)(c) | 22,493 | 6,700,685 |
NAVER Corp. | 84,569 | 11,748,972 |
POSCO Holdings Inc. | 41,947 | 13,138,978 |
Samsung Electronics Co. Ltd. | 2,902,332 | 177,643,199 |
Samsung SDI Co. Ltd. | 29,580 | 10,490,660 |
Shinhan Financial Group Co. Ltd. | 275,707 | 9,725,582 |
SK Hynix Inc. | 304,433 | 41,382,536 |
328,549,172 | ||
Taiwan — 32.5% | ||
Cathay Financial Holding Co. Ltd. | 5,480,235 | 8,258,570 |
Chunghwa Telecom Co. Ltd. | 2,151,551 | 8,451,577 |
CTBC Financial Holding Co. Ltd. | 11,102,359 | 11,237,335 |
Security | Shares | Value |
Taiwan (continued) | ||
Delta Electronics Inc. | 1,088,000 | $11,644,728 |
Formosa Plastics Corp. | 2,698,071 | 5,739,534 |
Fubon Financial Holding Co. Ltd. | 4,787,780 | 10,363,794 |
Hon Hai Precision Industry Co. Ltd. | 6,810,052 | 31,918,628 |
MediaTek Inc. | 903,112 | 33,721,901 |
Quanta Computer Inc. | 1,574,000 | 13,783,470 |
Taiwan Semiconductor Manufacturing Co. Ltd. | 13,780,343 | 335,428,537 |
United Microelectronics Corp. | 6,595,000 | 10,710,559 |
481,258,633 | ||
Total Common Stocks — 97.6% (Cost: $1,396,170,367) | 1,447,066,627 | |
Preferred Stocks | ||
South Korea — 1.9% | ||
Hyundai Motor Co. | ||
Preference Shares, NVS | 12,283 | 1,443,165 |
Series 2, Preference Shares, NVS | 20,576 | 2,398,014 |
LG Chem Ltd., Preference Shares, NVS | 4,245 | 947,106 |
Samsung Electronics Co. Ltd., Preference Shares, NVS | 464,529 | 23,185,661 |
27,973,946 | ||
Total Preferred Stocks — 1.9% (Cost: $21,153,791) | 27,973,946 | |
Total Long-Term Investments — 99.5% (Cost: $1,417,324,158) | 1,475,040,573 | |
Short-Term Securities | ||
Money Market Funds — 0.3% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 3,132,172 | 3,133,425 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(d)(e) | 800,000 | 800,000 |
Total Short-Term Securities — 0.3% (Cost: $3,932,843) | 3,933,425 | |
Total Investments — 99.8% (Cost: $1,421,257,001) | 1,478,973,998 | |
Other Assets Less Liabilities — 0.2% | 2,629,449 | |
Net Assets — 100.0% | $1,481,603,447 |
(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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $— | $3,129,913 (a) | $— | $2,930 | $582 | $3,133,425 | 3,132,172 | $36,660 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 700,000 | 100,000 (a) | — | — | — | 800,000 | 800,000 | 65,900 | — |
$2,930 | $582 | $3,933,425 | $102,560 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
FTSE Taiwan Index | 41 | 04/29/24 | $2,827 | $(660 ) |
MSCI China Index | 103 | 06/21/24 | 2,174 | (20,186 ) |
MSCI Emerging Markets Index | 22 | 06/21/24 | 1,154 | (555 ) |
$(21,401 ) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Liabilities—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized depreciation on futures contracts(a) | $— | $— | $21,401 | $— | $— | $— | $21,401 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $17,937 | $— | $— | $— | $17,937 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(197,967 ) | $— | $— | $— | $(197,967 ) |
Futures contracts: | |
Average notional value of contracts — long | $6,093,400 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $620,094,801 | $826,971,826 | $— | $1,447,066,627 |
Preferred Stocks | — | 27,973,946 | — | 27,973,946 |
Short-Term Securities | ||||
Money Market Funds | 3,933,425 | — | — | 3,933,425 |
$624,028,226 | $854,945,772 | $— | $1,478,973,998 | |
Derivative Financial Instruments(a) | ||||
Liabilities | ||||
Equity Contracts | $(555 ) | $(20,846 ) | $— | $(21,401 ) |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Capital Markets — 17.6% | ||
Allfunds Group PLC | 5,096 | $36,752 |
Bitcoin Group SE | 1,707 | 101,840 |
Coinbase Global Inc., Class A(a) | 13,062 | 3,462,998 |
Galaxy Digital Holdings Ltd.(a) | 32,913 | 351,594 |
Robinhood Markets Inc.(a) | 5,546 | 111,641 |
SBI Holdings Inc. | 3,000 | 78,690 |
Voyager Digital Ltd.(a)(b) | 57,043 | — |
4,143,515 | ||
Financial Services — 10.0% | ||
Block Inc.(a) | 6,733 | 569,477 |
Mastercard Inc., Class A | 1,893 | 911,612 |
PayPal Holdings Inc.(a) | 13,205 | 884,603 |
2,365,692 | ||
Insurance — 0.3% | ||
Poste Italiane SpA(c) | 5,712 | 71,538 |
Interactive Media & Services — 0.4% | ||
LY Corp. | 33,500 | 84,854 |
IT Services — 6.3% | ||
Core Scientific Inc.(a)(d) | 121,169 | 428,938 |
DXC Technology Co.(a) | 2,243 | 47,574 |
International Business Machines Corp. | 4,755 | 908,015 |
NTT Data Group Corp. | 7,100 | 112,876 |
1,497,403 | ||
Media — 0.4% | ||
Fox Corp., Class A, NVS | 3,004 | 93,935 |
Semiconductors & Semiconductor Equipment — 7.7% | ||
Advanced Micro Devices Inc.(a) | 4,416 | 797,045 |
Ambarella Inc.(a) | 500 | 25,385 |
Amlogic Shanghai Co. Ltd. | 3,267 | 21,719 |
Nvidia Corp. | 1,088 | 983,073 |
1,827,222 | ||
Software — 54.4% | ||
Argo Blockchain PLC, ADR(a) | 58,472 | 126,884 |
Bit Digital Inc.(a)(d) | 152,170 | 436,728 |
Bitdeer Technologies Group, NVS(a)(d) | 49,216 | 345,496 |
Bitfarms Ltd/Canada(a)(d) | 344,193 | 767,550 |
Cipher Mining Inc.(a) | 219,074 | 1,128,231 |
Security | Shares | Value |
Software (continued) | ||
Cleanspark Inc.(a) | 150,425 | $3,190,514 |
Hive Digital Technologies Ltd., NVS(a)(d) | 180,710 | 608,993 |
Hut 8 Corp., NVS(a)(d) | 113,062 | 1,248,205 |
Iris Energy Ltd.(a) | 143,293 | 773,782 |
Marathon Digital Holdings Inc.(a) | 99,494 | 2,246,575 |
Northern Data AG(a) | 3,064 | 88,509 |
Riot Platforms Inc.(a) | 98,250 | 1,202,580 |
Terawulf Inc.(a)(d) | 260,821 | 685,959 |
12,850,006 | ||
Technology Hardware, Storage & Peripherals — 2.7% | ||
Canaan Inc., ADR(a)(d) | 405,045 | 615,668 |
GRG Banking Equipment Co. Ltd., Class A | 13,100 | 21,634 |
637,302 | ||
Total Long-Term Investments — 99.8% (Cost: $14,585,253) | 23,571,467 | |
Short-Term Securities | ||
Money Market Funds — 12.2% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(e)(f)(g) | 2,893,464 | 2,894,621 |
Total Short-Term Securities — 12.2% (Cost: $2,894,072) | 2,894,621 | |
Total Investments — 112.0% (Cost: $17,479,325) | 26,466,088 | |
Liabilities in Excess of Other Assets — (12.0)% | (2,845,100 ) | |
Net Assets — 100.0% | $23,620,988 |
(a) | Non-income producing security. |
(b) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(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) | All or a portion of this security is on loan. |
(e) | Affiliate of the Fund. |
(f) | Annualized 7-day yield as of period end. |
(g) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $2,274,838 | $620,049 (a) | $— | $(684 ) | $418 | $2,894,621 | 2,893,464 | $120,568 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares(c) | — | — | 0 (a) | — | — | — | — | 538 | — |
$(684 ) | $418 | $2,894,621 | $121,106 | $— |
(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. |
(c) | As of period end, the entity is no longer held. |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $2,827 | $— | $— | $— | $2,827 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(750 ) | $— | $— | $— | $(750 ) |
Futures contracts: | |
Average notional value of contracts — long | $4,808 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $23,054,895 | $516,572 | $— | $23,571,467 |
Short-Term Securities | ||||
Money Market Funds | 2,894,621 | — | — | 2,894,621 |
$25,949,516 | $516,572 | $— | $26,466,088 |
Security | Shares | Value |
Common Stocks | ||
Brazil — 23.9% | ||
CCR SA | 276,939 | $763,109 |
Centrais Eletricas Brasileiras SA, ADR | 197,549 | 1,649,534 |
Cia. de Saneamento Basico do Estado de Sao Paulo SABESP, ADR | 65,308 | 1,099,134 |
Companhia Paranaense de Energia, ADR | 49,834 | 384,718 |
Ultrapar Participacoes SA, ADR | 239,165 | 1,368,024 |
5,264,519 | ||
China — 32.8% | ||
Beijing Capital International Airport Co. Ltd., Class H(a) | 484,000 | 146,785 |
CGN Power Co. Ltd., Class H(b) | 2,027,000 | 601,367 |
China Gas Holdings Ltd. | 561,000 | 506,106 |
China Longyuan Power Group Corp. Ltd., Class H | 638,000 | 447,570 |
China Merchants Port Holdings Co. Ltd. | 364,000 | 436,462 |
China Oilfield Services Ltd., Class H | 598,000 | 688,267 |
China Resources Gas Group Ltd. | 172,500 | 550,456 |
China Resources Power Holdings Co. Ltd. | 340,000 | 794,055 |
China Suntien Green Energy Corp. Ltd., Class H | 607,000 | 229,756 |
COSCO Shipping Energy Transportation Co. Ltd., Class H | 428,000 | 443,481 |
COSCO SHIPPING Ports Ltd. | 418,000 | 229,515 |
Huaneng Power International Inc., Class H(a) | 782,000 | 460,594 |
Jiangsu Expressway Co. Ltd., Class H | 342,000 | 350,064 |
Kunlun Energy Co. Ltd. | 762,000 | 636,569 |
Shenzhen International Holdings Ltd. | 374,999 | 287,948 |
Yuexiu Transport Infrastructure Ltd. | 262,000 | 128,541 |
Zhejiang Expressway Co. Ltd., Class H | 454,000 | 291,333 |
7,228,869 | ||
Mexico — 19.0% | ||
Grupo Aeroportuario del Centro Norte SAB de CV, ADR | 9,642 | 762,586 |
Grupo Aeroportuario del Pacifico SAB de CV, ADR | 10,965 | 1,789,159 |
Grupo Aeroportuario del Sureste SAB de CV, ADR | 5,116 | 1,630,367 |
4,182,112 | ||
Qatar — 4.4% | ||
Qatar Gas Transport Co. Ltd. | 895,679 | 979,257 |
South Korea — 3.7% | ||
Korea Electric Power Corp., ADR(a)(c) | 98,141 | 817,514 |
Thailand — 9.8% | ||
Airports of Thailand PCL, NVDR(c) | 1,199,100 | 2,145,980 |
United Arab Emirates — 2.9% | ||
ADNOC Drilling Co. PJSC | 580,682 | 627,764 |
Total Common Stocks — 96.5% (Cost: $17,991,978) | 21,246,015 |
Security | Shares | Value |
Preferred Stocks | ||
Brazil — 3.2% | ||
Cia. Energetica de Minas Gerais, Preference Shares, ADR | 280,054 | $691,734 |
Russia — 0.0% | ||
Transneft PJSC, Preference Shares, NVS(a)(d) | 64,000 | — |
Total Preferred Stocks — 3.2% (Cost: $1,966,158) | 691,734 | |
Total Long-Term Investments — 99.7% (Cost: $19,958,136) | 21,937,749 | |
Short-Term Securities | ||
Money Market Funds — 7.7% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(e)(f)(g) | 1,657,531 | 1,658,194 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(e)(f) | 30,000 | 30,000 |
Total Short-Term Securities — 7.7% (Cost: $1,688,427) | 1,688,194 | |
Total Investments — 107.4% (Cost: $21,646,563) | 23,625,943 | |
Liabilities in Excess of Other Assets — (7.4)% | (1,619,110 ) | |
Net Assets — 100.0% | $22,006,833 |
(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) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(e) | Affiliate of the Fund. |
(f) | Annualized 7-day yield as of period end. |
(g) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $951,005 | $707,382 (a) | $— | $69 | $(262 ) | $1,658,194 | 1,657,531 | $5,227 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 40,000 | — | (10,000 )(a) | — | — | 30,000 | 30,000 | 4,614 | — |
$69 | $(262 ) | $1,688,194 | $9,841 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
MSCI Emerging Markets Index | 1 | 06/21/24 | $52 | $67 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $67 | $— | $— | $— | $67 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $20,246 | $— | $— | $— | $20,246 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(1,918 ) | $— | $— | $— | $(1,918 ) |
Futures contracts: | |
Average notional value of contracts — long | $162,103 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $11,623,338 | $9,622,677 | $— | $21,246,015 |
Preferred Stocks | 691,734 | — | — | 691,734 |
Short-Term Securities | ||||
Money Market Funds | 1,688,194 | — | — | 1,688,194 |
$14,003,266 | $9,622,677 | $— | $23,625,943 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $67 | $— | $— | $67 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Austria — 0.3% | ||
Erste Group Bank AG | 55,650 | $2,480,192 |
OMV AG | 22,572 | 1,069,066 |
Verbund AG | 13,029 | 951,899 |
4,501,157 | ||
Belgium — 1.3% | ||
Ageas SA/NV | 26,647 | 1,234,438 |
Anheuser-Busch InBev SA/NV | 140,119 | 8,529,601 |
Argenx SE(a) | 9,325 | 3,676,596 |
Groupe Bruxelles Lambert NV | 15,691 | 1,186,210 |
KBC Group NV | 52,948 | 3,969,623 |
Syensqo SA(a) | 11,335 | 1,074,054 |
UCB SA | 18,747 | 2,314,258 |
Umicore SA | 31,122 | 670,977 |
22,655,757 | ||
Denmark — 5.6% | ||
AP Moller - Maersk A/S, Class A | 411 | 526,620 |
AP Moller - Maersk A/S, Class B, NVS | 745 | 971,363 |
Carlsberg A/S, Class B | 14,052 | 1,924,352 |
Coloplast A/S, Class B | 19,473 | 2,629,186 |
Danske Bank A/S | 107,133 | 3,215,747 |
DSV A/S | 28,412 | 4,618,502 |
Genmab A/S(a) | 10,326 | 3,096,029 |
GN Store Nord A/S(a) | 23,505 | 621,680 |
Novo Nordisk A/S | 505,067 | 64,786,641 |
Novonesis A/S (Novozymes A/S), Class B | 55,012 | 3,235,888 |
Orsted A/S(a)(b) | 29,695 | 1,659,321 |
Pandora A/S | 13,072 | 2,109,899 |
Tryg A/S | 54,275 | 1,118,843 |
Vestas Wind Systems A/S(a) | 157,123 | 4,382,726 |
94,896,797 | ||
Finland — 1.2% | ||
Elisa OYJ | 24,067 | 1,072,988 |
Fortum OYJ | 69,787 | 861,602 |
Kesko OYJ, Class B | 42,848 | 801,001 |
Kone OYJ, Class B | 62,914 | 2,930,981 |
Metso OYJ | 110,864 | 1,316,939 |
Neste OYJ | 67,191 | 1,821,897 |
Nokia OYJ | 823,793 | 2,922,895 |
Sampo OYJ, Class A | 72,709 | 3,101,490 |
Stora Enso OYJ, Class R | 98,183 | 1,365,337 |
UPM-Kymmene OYJ | 83,272 | 2,774,344 |
Wartsila OYJ Abp | 77,163 | 1,172,686 |
20,142,160 | ||
France — 17.9% | ||
Accor SA | 28,106 | 1,312,168 |
Air Liquide SA | 81,939 | 17,047,289 |
Airbus SE | 97,260 | 17,918,091 |
Alstom SA | 43,268 | 658,901 |
ArcelorMittal SA | 71,869 | 1,975,471 |
Arkema SA | 9,998 | 1,052,586 |
AXA SA | 273,021 | 10,253,512 |
BNP Paribas SA | 157,566 | 11,217,892 |
Bouygues SA | 31,372 | 1,280,757 |
Bureau Veritas SA | 44,138 | 1,347,685 |
Capgemini SE | 24,352 | 5,603,654 |
Carrefour SA | 82,844 | 1,421,132 |
Cie. de Saint-Gobain | 78,910 | 6,124,497 |
Cie. Generale des Etablissements Michelin SCA | 111,092 | 4,257,418 |
Credit Agricole SA | 174,630 | 2,605,117 |
Security | Shares | Value |
France (continued) | ||
Danone SA | 98,097 | $6,341,463 |
Dassault Systemes SE | 105,628 | 4,675,850 |
Edenred SE | 38,541 | 2,057,885 |
Eiffage SA | 11,903 | 1,350,897 |
Engie SA | 273,286 | 4,579,547 |
EssilorLuxottica SA | 44,573 | 10,082,926 |
Eurofins Scientific SE | 19,982 | 1,272,861 |
Euronext NV(b) | 15,494 | 1,474,565 |
Gecina SA | 7,780 | 794,681 |
Getlink SE | 50,632 | 862,081 |
Hermes International SCA | 5,277 | 13,486,852 |
Kering SA | 10,785 | 4,271,758 |
Legrand SA | 41,085 | 4,350,767 |
L'Oreal SA | 35,932 | 17,016,375 |
LVMH Moet Hennessy Louis Vuitton SE | 40,782 | 36,695,482 |
Orange SA | 289,283 | 3,401,972 |
Pernod Ricard SA | 31,111 | 5,036,374 |
Publicis Groupe SA | 36,655 | 3,996,147 |
Renault SA | 29,496 | 1,488,371 |
Safran SA | 54,345 | 12,307,604 |
Sanofi SA | 174,112 | 16,938,385 |
Sartorius Stedim Biotech | 4,401 | 1,255,282 |
Schneider Electric SE | 83,908 | 18,969,617 |
Societe Generale SA | 107,342 | 2,876,015 |
Sodexo SA | 12,953 | 1,110,373 |
Teleperformance SE | 10,072 | 978,341 |
Thales SA | 15,331 | 2,613,634 |
TotalEnergies SE | 350,571 | 24,115,562 |
Unibail-Rodamco-Westfield, New(a) | 15,838 | 1,274,108 |
Veolia Environnement SA | 94,870 | 3,086,294 |
Vinci SA | 79,087 | 10,149,122 |
Vivendi SE | 96,387 | 1,050,409 |
Worldline SA/France(a)(b) | 38,507 | 476,390 |
304,514,160 | ||
Germany — 12.4% | ||
adidas AG | 25,849 | 5,775,408 |
Allianz SE, Registered | 61,155 | 18,329,199 |
BASF SE | 139,082 | 7,947,687 |
Bayer AG, Registered | 153,234 | 4,692,724 |
Bayerische Motoren Werke AG | 45,221 | 5,217,544 |
Beiersdorf AG | 15,407 | 2,243,214 |
Brenntag SE | 22,991 | 1,937,704 |
Commerzbank AG | 164,260 | 2,257,620 |
Continental AG | 16,847 | 1,216,099 |
Covestro AG(a)(b) | 29,897 | 1,635,364 |
Daimler Truck Holding AG | 80,895 | 4,099,334 |
Delivery Hero SE, Class A(a)(b) | 31,552 | 902,211 |
Deutsche Bank AG, Registered | 319,599 | 5,033,762 |
Deutsche Boerse AG | 29,616 | 6,065,057 |
Deutsche Post AG, Registered | 146,730 | 6,323,680 |
Deutsche Telekom AG, Registered | 546,694 | 13,270,716 |
E.ON SE | 354,275 | 4,932,186 |
Fresenius Medical Care AG & Co. KGaA | 31,127 | 1,196,044 |
Fresenius SE & Co. KGaA | 63,390 | 1,709,425 |
GEA Group AG | 23,148 | 978,700 |
Hannover Rueck SE | 9,515 | 2,605,457 |
Heidelberg Materials AG | 20,616 | 2,269,437 |
Henkel AG & Co. KGaA | 15,259 | 1,099,463 |
Infineon Technologies AG | 203,480 | 6,919,445 |
LEG Immobilien SE(a) | 11,953 | 1,026,653 |
Mercedes-Benz Group AG | 125,037 | 9,957,561 |
Merck KGaA | 20,137 | 3,550,865 |
Security | Shares | Value |
Germany (continued) | ||
MTU Aero Engines AG | 8,554 | $2,169,517 |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered | 21,341 | 10,417,405 |
Puma SE | 16,718 | 756,594 |
Rheinmetall AG | 6,991 | 3,931,884 |
RWE AG | 105,576 | 3,588,231 |
SAP SE | 159,603 | 31,077,712 |
Siemens AG, Registered | 117,505 | 22,436,271 |
Siemens Energy AG(a)(c) | 79,794 | 1,464,519 |
Siemens Healthineers AG(b) | 43,988 | 2,690,198 |
Symrise AG, Class A | 20,820 | 2,492,380 |
Volkswagen AG | 4,851 | 741,029 |
Vonovia SE | 127,073 | 3,755,232 |
Zalando SE(a)(b) | 34,310 | 981,103 |
209,694,634 | ||
Ireland — 1.5% | ||
Bank of Ireland Group PLC | 149,450 | 1,525,148 |
CRH PLC | 114,279 | 9,863,418 |
Flutter Entertainment PLC(a) | 27,856 | 5,552,634 |
Kerry Group PLC, Class A | 24,506 | 2,099,821 |
Kingspan Group PLC | 24,296 | 2,212,792 |
Ryanair Holdings PLC, ADR | 14,103 | 2,053,256 |
Smurfit Kappa Group PLC | 41,642 | 1,898,701 |
25,205,770 | ||
Italy — 4.2% | ||
Assicurazioni Generali SpA | 175,518 | 4,442,959 |
Banco BPM SpA | 247,431 | 1,646,226 |
Enel SpA | 1,213,797 | 8,012,875 |
Eni SpA | 377,431 | 5,976,254 |
Ferrari NV | 19,835 | 8,648,762 |
FinecoBank Banca Fineco SpA | 96,874 | 1,450,862 |
Intesa Sanpaolo SpA | 2,522,792 | 9,159,082 |
Mediobanca Banca di Credito Finanziario SpA | 103,100 | 1,536,341 |
Moncler SpA | 32,330 | 2,412,488 |
Nexi SpA(a)(b) | 133,593 | 846,422 |
Prysmian SpA | 44,366 | 2,313,861 |
Snam SpA | 326,366 | 1,541,003 |
Stellantis NV | 349,401 | 9,926,142 |
Telecom Italia SpA/Milano(a)(c) | 1,865,519 | 453,040 |
Tenaris SA, NVS | 72,979 | 1,442,884 |
Terna - Rete Elettrica Nazionale | 227,719 | 1,882,259 |
UniCredit SpA | 269,317 | 10,228,467 |
71,919,927 | ||
Netherlands — 7.8% | ||
ABN AMRO Bank NV, CVA(b) | 70,208 | 1,201,416 |
Adyen NV(a)(b) | 4,837 | 8,170,353 |
Aegon Ltd. | 189,820 | 1,158,058 |
Akzo Nobel NV | 27,450 | 2,050,994 |
ASM International NV | 7,177 | 4,395,210 |
ASML Holding NV | 62,501 | 60,592,281 |
ASR Nederland NV | 23,104 | 1,132,321 |
BE Semiconductor Industries NV | 12,701 | 1,945,520 |
EXOR NV, NVS | 15,588 | 1,734,731 |
Ferrovial SE | 77,707 | 3,076,563 |
Heineken Holding NV | 15,664 | 1,264,147 |
Heineken NV | 39,576 | 3,815,426 |
IMCD NV | 9,162 | 1,612,604 |
ING Groep NV | 546,136 | 8,991,189 |
Koninklijke Ahold Delhaize NV | 149,290 | 4,467,022 |
Koninklijke KPN NV | 504,011 | 1,885,205 |
Koninklijke Philips NV(a) | 141,743 | 2,836,837 |
Security | Shares | Value |
Netherlands (continued) | ||
NN Group NV | 44,822 | $2,069,211 |
Prosus NV | 238,485 | 7,464,669 |
QIAGEN NV, NVS | 35,402 | 1,512,995 |
Randstad NV | 18,913 | 998,713 |
Universal Music Group NV | 119,437 | 3,589,121 |
Wolters Kluwer NV | 38,957 | 6,100,269 |
132,064,855 | ||
Norway — 0.8% | ||
Aker BP ASA | 48,375 | 1,213,317 |
DNB Bank ASA | 139,589 | 2,774,687 |
Equinor ASA | 154,593 | 4,145,317 |
Mowi ASA | 72,233 | 1,326,826 |
Norsk Hydro ASA | 218,907 | 1,202,978 |
Orkla ASA | 116,548 | 823,146 |
Telenor ASA | 100,252 | 1,115,040 |
Yara International ASA | 25,014 | 793,171 |
13,394,482 | ||
Portugal — 0.2% | ||
EDP - Energias de Portugal SA | 470,399 | 1,835,323 |
Galp Energia SGPS SA | 65,859 | 1,088,805 |
Jeronimo Martins SGPS SA | 43,232 | 857,735 |
3,781,863 | ||
Singapore — 0.3% | ||
STMicroelectronics NV , New(c) | 103,592 | 4,457,891 |
Spain — 4.1% | ||
ACS Actividades de Construccion y Servicios SA | 31,628 | 1,324,531 |
Aena SME SA(b) | 11,600 | 2,284,660 |
Amadeus IT Group SA | 70,273 | 4,511,293 |
Banco Bilbao Vizcaya Argentaria SA | 911,416 | 10,853,588 |
Banco de Sabadell SA | 849,689 | 1,336,712 |
Banco Santander SA | 2,470,680 | 12,067,862 |
CaixaBank SA | 631,883 | 3,066,260 |
Cellnex Telecom SA(b) | 92,650 | 3,277,466 |
Enagas SA | 35,814 | 532,046 |
Endesa SA | 51,497 | 954,828 |
Grifols SA(a)(c) | 44,676 | 401,858 |
Iberdrola SA | 912,941 | 11,339,050 |
Industria de Diseno Textil SA | 176,072 | 8,866,329 |
Naturgy Energy Group SA | 31,086 | 674,648 |
Redeia Corp. SA | 61,932 | 1,057,863 |
Repsol SA | 190,059 | 3,172,314 |
Telefonica SA | 897,758 | 3,964,721 |
69,686,029 | ||
Sweden — 4.7% | ||
Alfa Laval AB | 45,164 | 1,774,689 |
Assa Abloy AB, Class B | 154,891 | 4,445,108 |
Atlas Copco AB, Class A | 402,810 | 6,802,877 |
Atlas Copco AB, Class B | 245,451 | 3,625,298 |
Boliden AB | 44,096 | 1,224,440 |
Epiroc AB | 97,771 | 1,835,411 |
Epiroc AB, Class B | 58,566 | 991,811 |
EQT AB | 56,378 | 1,784,898 |
Essity AB, Class B | 94,549 | 2,245,928 |
Evolution AB(b) | 29,931 | 3,717,546 |
Getinge AB, Class B | 33,255 | 668,854 |
H & M Hennes & Mauritz AB, Class B | 96,308 | 1,570,405 |
Hexagon AB, Class B | 331,086 | 3,913,745 |
Industrivarden AB, Class A | 24,068 | 827,692 |
Industrivarden AB, Class C | 25,591 | 879,985 |
Investor AB, Class B | 284,207 | 7,131,977 |
Security | Shares | Value |
Sweden (continued) | ||
Nibe Industrier AB, Class B | 241,875 | $1,189,396 |
Nordea Bank Abp | 552,937 | 6,162,199 |
Sandvik AB | 168,776 | 3,746,957 |
Skandinaviska Enskilda Banken AB, Class A | 262,236 | 3,552,650 |
Skanska AB, Class B | 55,526 | 988,837 |
SKF AB, Class B | 59,505 | 1,214,783 |
SSAB AB, Class B | 98,603 | 728,050 |
Svenska Cellulosa AB SCA, Class B | 96,071 | 1,476,995 |
Svenska Handelsbanken AB, Class A | 245,732 | 2,484,345 |
Swedbank AB, Class A | 142,684 | 2,831,954 |
Tele2 AB, Class B | 89,738 | 736,880 |
Telefonaktiebolaget LM Ericsson, Class B | 480,750 | 2,585,548 |
Telia Co. AB | 365,027 | 935,547 |
Trelleborg AB, Class B | 35,549 | 1,271,160 |
Volvo AB, Class B | 247,505 | 6,707,744 |
80,053,709 | ||
Switzerland — 14.5% | ||
ABB Ltd., Registered | 253,622 | 11,765,601 |
Adecco Group AG, Registered | 26,645 | 1,054,137 |
Alcon Inc. | 78,520 | 6,494,500 |
Baloise Holding AG, Registered | 7,215 | 1,131,353 |
Barry Callebaut AG, Registered | 580 | 842,508 |
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS | 157 | 1,879,104 |
Chocoladefabriken Lindt & Spruengli AG, Registered | 17 | 2,050,863 |
Cie. Financiere Richemont SA, Class A, Registered | 83,963 | 12,782,561 |
DSM-Firmenich AG | 32,342 | 3,678,322 |
Geberit AG, Registered | 5,247 | 3,100,892 |
Givaudan SA, Registered | 1,242 | 5,529,058 |
Holcim AG | 83,113 | 7,529,767 |
Julius Baer Group Ltd. | 32,295 | 1,873,057 |
Kuehne + Nagel International AG, Registered | 8,624 | 2,399,357 |
Logitech International SA, Registered | 24,786 | 2,221,055 |
Lonza Group AG, Registered | 11,708 | 6,996,681 |
Nestle SA, Registered | 417,018 | 44,308,145 |
Novartis AG, Registered | 324,397 | 31,420,571 |
Partners Group Holding AG | 3,427 | 4,895,419 |
Roche Holding AG, Bearer | 4,124 | 1,112,096 |
Roche Holding AG, NVS | 110,000 | 28,085,075 |
Sandoz Group AG(a) | 67,615 | 2,041,009 |
Schindler Holding AG, Participation Certificates, NVS | 6,229 | 1,567,951 |
Schindler Holding AG, Registered | 3,303 | 805,956 |
SGS SA | 23,747 | 2,305,417 |
SIG Group AG | 55,513 | 1,230,960 |
Sika AG, Registered | 24,992 | 7,436,374 |
Sonova Holding AG, Registered | 7,437 | 2,153,703 |
Straumann Holding AG | 18,222 | 2,907,459 |
Swatch Group AG (The), Bearer | 4,538 | 1,058,634 |
Swatch Group AG (The), Registered | 9,585 | 434,621 |
Swiss Life Holding AG, Registered | 4,613 | 3,235,521 |
Swiss Prime Site AG, Registered | 12,242 | 1,154,752 |
Swiss Re AG | 44,985 | 5,786,640 |
Swisscom AG, Registered | 3,903 | 2,388,850 |
Temenos AG, Registered | 9,630 | 688,837 |
UBS Group AG, Registered | 476,846 | 14,682,529 |
VAT Group AG(b) | 4,245 | 2,192,941 |
Zurich Insurance Group AG | 22,935 | 12,389,817 |
245,612,093 | ||
United Kingdom — 22.1% | ||
3i Group PLC | 151,411 | 5,368,641 |
abrdn PLC | 303,821 | 541,219 |
Security | Shares | Value |
United Kingdom (continued) | ||
Admiral Group PLC | 40,748 | $1,460,314 |
Anglo American PLC | 208,623 | 5,141,058 |
Antofagasta PLC | 55,126 | 1,415,967 |
Ashtead Group PLC | 70,106 | 4,993,591 |
Associated British Foods PLC | 51,370 | 1,620,767 |
AstraZeneca PLC | 242,118 | 32,527,046 |
Auto Trader Group PLC(b) | 142,847 | 1,261,469 |
Aviva PLC | 431,902 | 2,710,052 |
BAE Systems PLC | 481,963 | 8,215,260 |
Barclays PLC | 2,260,731 | 5,239,572 |
Barratt Developments PLC | 150,831 | 905,300 |
Berkeley Group Holdings PLC | 18,074 | 1,085,893 |
BP PLC | 2,635,285 | 16,532,262 |
British American Tobacco PLC | 348,345 | 10,572,646 |
British Land Co. PLC (The) | 155,037 | 773,477 |
BT Group PLC | 886,239 | 1,226,519 |
Bunzl PLC | 51,823 | 1,994,024 |
Burberry Group PLC | 56,701 | 867,318 |
Centrica PLC | 874,446 | 1,409,658 |
Compass Group PLC | 278,489 | 8,168,818 |
Croda International PLC | 22,397 | 1,385,824 |
DCC PLC | 15,493 | 1,127,210 |
Diageo PLC | 347,394 | 12,854,346 |
DS Smith PLC | 220,625 | 1,103,598 |
Entain PLC | 99,646 | 999,947 |
Experian PLC | 143,961 | 6,272,804 |
Glencore PLC | 1,737,518 | 9,534,727 |
GSK PLC | 641,420 | 13,771,529 |
Haleon PLC | 977,831 | 4,097,870 |
Halma PLC | 60,047 | 1,793,025 |
Hargreaves Lansdown PLC | 52,479 | 487,060 |
HSBC Holdings PLC | 2,982,791 | 23,315,953 |
IMI PLC | 41,945 | 960,909 |
Imperial Brands PLC | 137,899 | 3,082,676 |
Informa PLC | 214,850 | 2,254,208 |
InterContinental Hotels Group PLC | 26,864 | 2,791,488 |
Intermediate Capital Group PLC | 46,436 | 1,202,760 |
Intertek Group PLC | 25,516 | 1,606,176 |
J Sainsbury PLC | 272,902 | 931,806 |
Johnson Matthey PLC | 29,490 | 666,425 |
Kingfisher PLC | 306,780 | 965,521 |
Land Securities Group PLC | 122,254 | 1,015,434 |
Legal & General Group PLC | 937,648 | 3,012,358 |
Lloyds Banking Group PLC | 10,005,134 | 6,543,313 |
London Stock Exchange Group PLC | 60,775 | 7,271,974 |
M&G PLC | 383,205 | 1,066,590 |
Marks & Spencer Group PLC | 315,071 | 1,055,132 |
Melrose Industries PLC | 229,240 | 1,946,453 |
Mondi PLC, NVS | 69,298 | 1,220,566 |
National Grid PLC | 582,436 | 7,847,741 |
NatWest Group PLC, NVS | 849,511 | 2,845,299 |
Next PLC | 19,641 | 2,289,442 |
Ocado Group PLC(a) | 113,299 | 649,754 |
Pearson PLC | 108,634 | 1,430,435 |
Persimmon PLC | 50,780 | 841,957 |
Phoenix Group Holdings PLC | 147,997 | 1,033,382 |
Prudential PLC | 428,164 | 4,015,566 |
Reckitt Benckiser Group PLC | 114,892 | 6,549,422 |
RELX PLC | 297,738 | 12,840,078 |
Rentokil Initial PLC | 392,048 | 2,330,926 |
Rightmove PLC | 128,621 | 891,506 |
Rio Tinto PLC | 174,598 | 11,038,933 |
Security | Shares | Value |
United Kingdom (continued) | ||
Rolls-Royce Holdings PLC(a) | 1,326,366 | $7,136,330 |
Sage Group PLC (The) | 159,513 | 2,549,343 |
Schroders PLC | 151,006 | 717,406 |
Segro PLC | 209,007 | 2,382,999 |
Severn Trent PLC | 43,077 | 1,344,142 |
Shell PLC | 1,014,172 | 33,649,691 |
Smith & Nephew PLC | 140,198 | 1,755,136 |
Smiths Group PLC | 54,904 | 1,138,078 |
Spirax-Sarco Engineering PLC | 11,354 | 1,440,550 |
SSE PLC | 170,657 | 3,557,854 |
St. James's Place PLC | 83,368 | 489,093 |
Standard Chartered PLC | 346,927 | 2,941,149 |
Taylor Wimpey PLC | 544,149 | 940,762 |
Tesco PLC | 1,103,690 | 4,133,839 |
Unilever PLC | 393,456 | 19,752,200 |
United Utilities Group PLC | 107,398 | 1,395,491 |
Vodafone Group PLC | 3,550,613 | 3,149,124 |
Weir Group PLC (The) | 42,005 | 1,072,985 |
Whitbread PLC | 29,057 | 1,214,812 |
WPP PLC | 167,273 | 1,585,268 |
375,319,246 | ||
Total Common Stocks — 98.9% (Cost: $1,583,121,422) | 1,677,900,530 | |
Preferred Stocks | ||
Germany — 0.7% | ||
Bayerische Motoren Werke AG, Preference Shares, NVS | 9,424 | 1,011,218 |
Dr Ing hc F Porsche AG, Preference Shares, NVS(b) | 14,298 | 1,422,048 |
Henkel AG & Co. KGaA, Preference Shares, NVS | 25,271 | 2,031,182 |
Porsche Automobil Holding SE, Preference Shares, NVS | 23,926 | 1,267,453 |
Sartorius AG, Preference Shares, NVS | 4,241 | 1,684,144 |
Security | Shares | Value |
Germany (continued) | ||
Volkswagen AG, Preference Shares, NVS | 28,596 | $3,792,516 |
11,208,561 | ||
Italy — 0.0% | ||
Telecom Italia SpA, Preference Shares, NVS | 1,138,633 | 280,078 |
Total Preferred Stocks — 0.7% (Cost: $17,373,470) | 11,488,639 | |
Total Long-Term Investments — 99.6% (Cost: $1,600,494,892) | 1,689,389,169 | |
Short-Term Securities | ||
Money Market Funds — 0.4% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 4,327,710 | 4,329,442 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(d)(e) | 1,700,000 | 1,700,000 |
Total Short-Term Securities — 0.4% (Cost: $6,030,215) | 6,029,442 | |
Total Investments — 100.0% (Cost: $1,606,525,107) | 1,695,418,611 | |
Other Assets Less Liabilities — 0.0% | 565,338 | |
Net Assets — 100.0% | $1,695,983,949 |
(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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $3,784,666 | $545,436 (a) | $— | $2,283 | $(2,943 ) | $4,329,442 | 4,327,710 | $28,630 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 2,050,000 | — | (350,000 )(a) | — | — | 1,700,000 | 1,700,000 | 148,218 | — |
$2,283 | $(2,943 ) | $6,029,442 | $176,848 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
Euro STOXX 50 Index | 79 | 06/21/24 | $4,305 | $75,686 |
FTSE 100 Index | 24 | 06/21/24 | 2,419 | 52,304 |
$127,990 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $127,990 | $— | $— | $— | $127,990 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $241,147 | $— | $— | $— | $241,147 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(68,899 ) | $— | $— | $— | $(68,899 ) |
Futures contracts: | |
Average notional value of contracts — long | $2,892,998 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $3,621,336 | $1,674,279,194 | $— | $1,677,900,530 |
Preferred Stocks | 280,078 | 11,208,561 | — | 11,488,639 |
Short-Term Securities | ||||
Money Market Funds | 6,029,442 | — | — | 6,029,442 |
$9,930,856 | $1,685,487,755 | $— | $1,695,418,611 |
Level 1 | Level 2 | Level 3 | Total | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $— | $127,990 | $— | $127,990 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Communications Equipment — 0.1% | ||
Arista Networks Inc.(a) | 25 | $7,250 |
Entertainment — 33.9% | ||
Cover Corp.(a)(b) | 11,700 | 182,093 |
Electronic Arts Inc. | 2,166 | 287,363 |
Kakao Games Corp.(a) | 16,746 | 286,097 |
Krafton Inc.(a) | 1,823 | 334,471 |
NetEase Inc. | 13,600 | 281,814 |
Nintendo Co. Ltd. | 100 | 5,456 |
ROBLOX Corp., Class A(a) | 7,328 | 279,783 |
Take-Two Interactive Software Inc.(a) | 2,033 | 301,880 |
Ubisoft Entertainment SA(a)(b) | 13,118 | 275,924 |
2,234,881 | ||
Household Durables — 7.7% | ||
Garmin Ltd. | 1,396 | 207,823 |
Sony Group Corp. | 3,500 | 300,127 |
507,950 | ||
Interactive Media & Services — 15.3% | ||
Alphabet Inc., Class A(a) | 623 | 94,029 |
Kuaishou Technology(a)(c) | 49,300 | 310,324 |
Match Group Inc.(a) | 2 | 73 |
Meta Platforms Inc., Class A | 787 | 382,151 |
Snap Inc., Class A, NVS(a) | 32 | 367 |
Tencent Holdings Ltd. | 5,600 | 218,120 |
1,005,064 | ||
Semiconductors & Semiconductor Equipment — 4.2% | ||
Advanced Micro Devices Inc.(a) | 148 | 26,713 |
Intel Corp. | 410 | 18,110 |
Micron Technology Inc. | 105 | 12,378 |
Nvidia Corp. | 213 | 192,458 |
Qualcomm Inc. | 105 | 17,776 |
SK Hynix Inc. | 52 | 7,069 |
274,504 | ||
Software — 35.2% | ||
Adobe Inc.(a) | 47 | 23,716 |
Ansys Inc.(a) | 870 | 302,029 |
Autodesk Inc.(a) | 1,177 | 306,515 |
Security | Shares | Value |
Software (continued) | ||
Cadence Design Systems Inc.(a)(b) | 625 | $194,550 |
Dassault Systemes SE | 6,376 | 282,247 |
Microsoft Corp. | 486 | 204,470 |
PTC Inc.(a) | 1,599 | 302,115 |
Salesforce Inc. | 96 | 28,913 |
Synopsys Inc.(a) | 339 | 193,739 |
Unity Software Inc.(a)(b) | 10,756 | 287,185 |
Zoom Video Communications Inc., Class A(a) | 2,941 | 192,253 |
2,317,732 | ||
Technology Hardware, Storage & Peripherals — 3.5% | ||
Apple Inc. | 1,155 | 198,060 |
Samsung Electronics Co. Ltd. | 513 | 31,399 |
229,459 | ||
Total Long-Term Investments — 99.9% (Cost: $5,947,360) | 6,576,840 | |
Short-Term Securities | ||
Money Market Funds — 6.8% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 448,087 | 448,266 |
Total Short-Term Securities — 6.8% (Cost: $448,297) | 448,266 | |
Total Investments — 106.7% (Cost: $6,395,657) | 7,025,106 | |
Liabilities in Excess of Other Assets — (6.7)% | (438,727 ) | |
Net Assets — 100.0% | $6,586,379 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(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) | 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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $— | $448,217 (a) | $— | $80 | $(31 ) | $448,266 | 448,087 | $446 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares(c) | — | — | 0 (a) | — | — | — | — | 129 | — |
$80 | $(31 ) | $448,266 | $575 | $— |
(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. |
(c) | As of period end, the entity is no longer held. |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $4,902,828 | $1,674,012 | $— | $6,576,840 |
Short-Term Securities | ||||
Money Market Funds | 448,266 | — | — | 448,266 |
$5,351,094 | $1,674,012 | $— | $7,025,106 |
Security | Shares | Value |
Common Stocks | ||
Automobiles — 7.6% | ||
Bajaj Auto Ltd. | 82,923 | $9,123,078 |
Eicher Motors Ltd. | 99,850 | 4,822,883 |
Hero MotoCorp Ltd. | 95,028 | 5,395,409 |
Mahindra & Mahindra Ltd. | 700,205 | 16,175,683 |
Maruti Suzuki India Ltd. | 96,564 | 14,617,995 |
Tata Motors Ltd. | 1,288,005 | 15,376,729 |
65,511,777 | ||
Banks — 28.5% | ||
Axis Bank Ltd. | 2,076,162 | 26,166,679 |
HDFC Bank Ltd. | 5,499,641 | 95,900,594 |
ICICI Bank Ltd. | 5,134,596 | 67,692,780 |
IndusInd Bank Ltd. | 483,767 | 9,044,281 |
Kotak Mahindra Bank Ltd. | 1,075,731 | 23,111,022 |
State Bank of India | 2,806,314 | 25,415,453 |
247,330,809 | ||
Chemicals — 1.3% | ||
Asian Paints Ltd. | 329,674 | 11,250,898 |
Construction & Engineering — 4.5% | ||
Larsen & Toubro Ltd. | 864,495 | 39,100,468 |
Construction Materials — 2.0% | ||
Grasim Industries Ltd. | 269,655 | 7,417,112 |
UltraTech Cement Ltd. | 84,444 | 9,888,642 |
17,305,754 | ||
Consumer Finance — 2.7% | ||
Bajaj Finance Ltd. | 203,694 | 17,786,317 |
Shriram Finance Ltd. | 203,357 | 5,767,926 |
23,554,243 | ||
Electric Utilities — 1.3% | ||
Power Grid Corp. of India Ltd. | 3,332,619 | 11,062,341 |
Financial Services — 0.9% | ||
Bajaj Finserv Ltd. | 396,690 | 7,847,743 |
Food Products — 2.2% | ||
Britannia Industries Ltd. | 86,267 | 5,080,666 |
Nestle India Ltd., NVS | 260,872 | 8,211,814 |
Tata Consumer Products Ltd. | 459,875 | 6,055,605 |
19,348,085 | ||
Health Care Providers & Services — 0.7% | ||
Apollo Hospitals Enterprise Ltd. | 73,602 | 5,618,596 |
Independent Power and Renewable Electricity Producers — 1.6% | ||
NTPC Ltd. | 3,474,537 | 14,041,564 |
Insurance — 1.4% | ||
HDFC Life Insurance Co. Ltd.(a) | 770,703 | 5,859,335 |
SBI Life Insurance Co. Ltd.(a) | 329,525 | 5,950,156 |
11,809,491 | ||
IT Services — 13.0% | ||
HCL Technologies Ltd. | 773,926 | 14,389,249 |
Infosys Ltd. | 2,610,356 | 47,007,658 |
LTIMindtree Ltd.(a) | 66,762 | 3,967,383 |
Tata Consultancy Services Ltd. | 740,825 | 34,575,746 |
Tech Mahindra Ltd. | 464,188 | 6,966,387 |
Wipro Ltd. | 1,031,639 | 5,979,371 |
112,885,794 |
Security | Shares | Value |
Life Sciences Tools & Services — 0.4% | ||
Divi's Laboratories Ltd. | 93,182 | $3,856,764 |
Metals & Mining — 2.9% | ||
Hindalco Industries Ltd. | 1,068,161 | 7,211,813 |
JSW Steel Ltd. | 697,433 | 6,965,525 |
Tata Steel Ltd. | 6,025,037 | 11,297,848 |
25,475,186 | ||
Oil, Gas & Consumable Fuels — 12.9% | ||
Bharat Petroleum Corp. Ltd. | 697,218 | 5,050,867 |
Coal India Ltd. | 1,667,452 | 8,718,836 |
Oil & Natural Gas Corp. Ltd. | 2,851,875 | 9,205,934 |
Reliance Industries Ltd. | 2,473,777 | 88,457,741 |
111,433,378 | ||
Personal Care Products — 2.1% | ||
Hindustan Unilever Ltd. | 652,912 | 17,764,614 |
Pharmaceuticals — 3.3% | ||
Cipla Ltd. | 383,762 | 6,898,781 |
Dr. Reddy's Laboratories Ltd. | 89,052 | 6,581,302 |
Sun Pharmaceutical Industries Ltd. | 789,554 | 15,370,847 |
28,850,930 | ||
Textiles, Apparel & Luxury Goods — 1.6% | ||
Titan Co. Ltd. | 305,130 | 13,948,128 |
Tobacco — 3.8% | ||
ITC Ltd. | 6,480,411 | 33,371,283 |
Trading Companies & Distributors — 0.9% | ||
Adani Enterprises Ltd. | 191,740 | 7,374,504 |
Transportation Infrastructure — 1.0% | ||
Adani Ports & Special Economic Zone Ltd. | 537,081 | 8,672,069 |
Wireless Telecommunication Services — 3.2% | ||
Bharti Airtel Ltd. | 1,902,285 | 28,067,710 |
Total Long-Term Investments — 99.8% (Cost: $705,790,222) | 865,482,129 | |
Short-Term Securities | ||
Money Market Funds — 1.9% | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(b)(c) | 16,250,000 | 16,250,000 |
Total Short-Term Securities — 1.9% (Cost: $16,250,000) | 16,250,000 | |
Total Investments — 101.7% (Cost: $722,040,222) | 881,732,129 | |
Liabilities in Excess of Other Assets — (1.7)% | (14,438,752 ) | |
Net Assets — 100.0% | $867,293,377 |
(a) | 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. |
(b) | Affiliate of the Fund. |
(c) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Treasury, SL Agency Shares | $— | $16,250,000 (a) | $— | $— | $— | $16,250,000 | 16,250,000 | $697,325 | $— |
(a) | Represents net amount purchased (sold). |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
IFSC Nifty 50 Index | 81 | 04/25/24 | $3,654 | $42,515 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $42,515 | $— | $— | $— | $42,515 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $147,286 | $— | $— | $— | $147,286 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $19,686 | $— | $— | $— | $19,686 |
Futures contracts: | |
Average notional value of contracts — long | $1,996,527 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $— | $865,482,129 | $— | $865,482,129 |
Short-Term Securities | ||||
Money Market Funds | 16,250,000 | — | — | 16,250,000 |
$16,250,000 | $865,482,129 | $— | $881,732,129 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $— | $42,515 | $— | $42,515 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 15.0% | ||
Abacus Group | 20,999 | $17,099 |
Abacus Storage King | 27,921 | 22,743 |
Arena REIT | 17,942 | 46,409 |
BWP Trust | 24,822 | 58,396 |
Centuria Capital Group | 41,446 | 47,232 |
Centuria Industrial REIT | 26,973 | 62,219 |
Centuria Office REIT | 20,631 | 17,948 |
Charter Hall Group | 24,163 | 216,393 |
Charter Hall Long Wale REIT | 33,889 | 84,305 |
Charter Hall Retail REIT | 26,453 | 63,948 |
Charter Hall Social Infrastructure REIT | 17,351 | 30,625 |
Cromwell Property Group | 73,094 | 20,715 |
Dexus | 55,099 | 283,903 |
Dexus Industria REIT | 11,181 | 22,499 |
GDI Property Group Partnership | 28,860 | 11,568 |
Goodman Group | 88,408 | 1,947,388 |
GPT Group (The) | 98,131 | 292,039 |
Growthpoint Properties Australia Ltd. | 13,722 | 22,708 |
HealthCo REIT | 24,766 | 20,495 |
HMC Capital Ltd. | 12,425 | 58,173 |
HomeCo Daily Needs REIT | 90,709 | 75,032 |
Hotel Property Investments Ltd. | 9,879 | 21,759 |
Ingenia Communities Group | 19,107 | 65,080 |
Lendlease Corp. Ltd. | 35,043 | 146,787 |
Lifestyle Communities Ltd. | 5,803 | 59,225 |
Mirvac Group | 201,849 | 310,244 |
National Storage REIT | 64,965 | 101,545 |
Region RE Ltd. | 58,910 | 91,734 |
Rural Funds Group(a) | 19,716 | 26,851 |
Scentre Group | 265,512 | 586,390 |
Stockland | 122,097 | 385,811 |
Vicinity Ltd. | 198,222 | 275,139 |
Waypoint REIT Ltd. | 34,368 | 57,093 |
5,549,495 | ||
Austria — 0.3% | ||
CA Immobilien Anlagen AG | 2,209 | 77,870 |
Immofinanz AG(b) | 1,637 | 39,876 |
117,746 | ||
Belgium — 2.4% | ||
Aedifica SA | 2,442 | 150,004 |
Care Property Invest NV(b) | 1,885 | 26,815 |
Cofinimmo SA | 1,875 | 122,503 |
Montea NV | 918 | 82,630 |
Retail Estates NV | 635 | 44,562 |
Shurgard Self Storage Ltd. | 1,601 | 71,414 |
VGP NV | 709 | 81,153 |
Warehouses De Pauw CVA | 8,862 | 252,698 |
Xior Student Housing NV | 1,705 | 51,467 |
883,246 | ||
Canada — 3.4% | ||
Allied Properties REIT | 3,162 | 41,248 |
Artis REIT | 2,696 | 12,718 |
Boardwalk REIT | 1,253 | 72,226 |
BSR REIT | 936 | 10,427 |
BTB REIT | 1,872 | 4,367 |
Canadian Apartment Properties REIT | 4,215 | 144,665 |
Choice Properties REIT | 8,242 | 83,847 |
Crombie REIT | 2,640 | 26,682 |
CT REIT | 2,724 | 28,697 |
Dream Industrial REIT | 6,846 | 66,613 |
Security | Shares | Value |
Canada (continued) | ||
Dream Office REIT, NVS(a) | 420 | $5,039 |
DREAM Unlimited Corp., Class A | 1,154 | 16,519 |
First Capital REIT | 5,372 | 62,304 |
Granite REIT | 1,588 | 90,634 |
H&R REIT | 6,465 | 44,148 |
InterRent REIT | 3,575 | 35,788 |
Killam Apartment REIT | 2,928 | 40,163 |
Minto Apartment REIT(c) | 949 | 11,105 |
Morguard North American Residential REIT | 1,014 | 11,940 |
Nexus Industrial REIT | 1,690 | 9,544 |
NorthWest Healthcare Properties REIT | 5,948 | 20,594 |
Prinmaris REIT | 2,470 | 25,438 |
PRO REIT | 1,482 | 6,007 |
RioCan REIT | 7,523 | 102,580 |
Slate Grocery REIT | 1,463 | 12,345 |
SmartCentres REIT | 3,631 | 62,270 |
StorageVault Canada Inc., NVS | 11,960 | 45,560 |
Tricon Residential Inc. | 13,268 | 147,907 |
True North Commercial REIT, NVS | 418 | 2,854 |
1,244,229 | ||
China — 0.1% | ||
Gemdale Properties & Investment Corp. Ltd.(a) | 290,000 | 9,162 |
Yuexiu REIT | 113,000 | 14,597 |
23,759 | ||
Finland — 0.3% | ||
Citycon OYJ | 4,186 | 17,275 |
Kojamo OYJ(b) | 9,105 | 107,903 |
125,178 | ||
France — 3.4% | ||
Altarea SCA | 223 | 18,860 |
Carmila SA | 2,856 | 49,675 |
Covivio SA/France | 2,483 | 127,984 |
Gecina SA | 2,630 | 268,639 |
ICADE | 1,597 | 43,261 |
Klepierre SA | 9,964 | 257,923 |
Mercialys SA | 4,866 | 56,686 |
Nexity SA | 2,498 | 25,544 |
Unibail-Rodamco-Westfield, New(b) | 5,192 | 417,677 |
1,266,249 | ||
Germany — 5.2% | ||
ADLER Group SA(a)(b)(c) | 6,059 | 1,173 |
Aroundtown SA(a)(b) | 44,052 | 92,865 |
BRANICKS Group AG(a) | 1,922 | 2,949 |
Deutsche EuroShop AG | 709 | 14,540 |
Deutsche Wohnen SE | 2,652 | 54,358 |
Grand City Properties SA(b) | 3,713 | 42,464 |
Hamborner REIT AG | 3,653 | 27,031 |
Instone Real Estate Group SE(c) | 2,180 | 20,995 |
LEG Immobilien SE(b) | 3,809 | 327,158 |
TAG Immobilien AG(b) | 8,990 | 122,867 |
Vib Vermoegen AG(b) | 570 | 6,888 |
Vonovia SE | 41,673 | 1,231,511 |
1,944,799 | ||
Hong Kong — 8.6% | ||
Champion REIT | 96,000 | 19,768 |
CK Asset Holdings Ltd. | 96,500 | 397,645 |
Fortune REIT | 75,000 | 36,523 |
Hang Lung Group Ltd. | 41,000 | 47,227 |
Hang Lung Properties Ltd. | 90,000 | 92,551 |
Henderson Land Development Co. Ltd. | 67,044 | 191,455 |
Hongkong Land Holdings Ltd. | 53,100 | 163,043 |
Security | Shares | Value |
Hong Kong (continued) | ||
Hysan Development Co. Ltd. | 31,000 | $50,015 |
Kerry Properties Ltd. | 29,500 | 54,043 |
Link REIT | 131,479 | 566,203 |
New World Development Co. Ltd.(a) | 70,000 | 74,010 |
Prosperity REIT | 65,000 | 10,798 |
Shun Tak Holdings Ltd.(b) | 128,000 | 12,280 |
Sino Land Co. Ltd. | 178,000 | 185,053 |
Sun Hung Kai Properties Ltd. | 77,000 | 743,795 |
Sunlight REIT | 52,000 | 10,772 |
Swire Properties Ltd. | 54,000 | 113,585 |
Wharf Holdings Ltd. (The)(a) | 49,000 | 161,082 |
Wharf Real Estate Investment Co. Ltd. | 79,000 | 257,216 |
3,187,064 | ||
Ireland — 0.1% | ||
Irish Residential Properties REIT PLC | 22,142 | 24,605 |
Israel — 2.4% | ||
Africa Israel Residences Ltd. | 319 | 21,299 |
Airport City Ltd.(b) | 3,306 | 52,995 |
Alony Hetz Properties & Investments Ltd. | 7,871 | 57,778 |
Amot Investments Ltd. | 11,080 | 52,450 |
Ashtrom Group Ltd. | 1 | 10 |
Aura Investments Ltd. | 6,432 | 27,111 |
Azrieli Group Ltd. | 1,864 | 134,499 |
Big Shopping Centers Ltd.(b) | 610 | 67,613 |
Blue Square Real Estate Ltd. | 286 | 19,726 |
Electra Real Estate Ltd. | 1,312 | 14,009 |
G City Ltd.(b) | 4,504 | 13,963 |
Gav-Yam Lands Corp. Ltd.(a) | 891 | 6,785 |
IES Holdings Ltd.(b) | 143 | 8,743 |
Israel Canada T.R Ltd. | 7,286 | 29,013 |
Israel Land Development Co. Ltd. (The) | 935 | 8,648 |
Isras Investment Co. Ltd. | 81 | 16,370 |
Mega Or Holdings Ltd. | 1,134 | 30,281 |
Melisron Ltd. | 1,285 | 95,045 |
Menivim- The New REIT Ltd. | 35,304 | 16,995 |
Mivne Real Estate KD Ltd. | 30,904 | 76,244 |
Norstar Holdings Inc.(a)(b) | 1,613 | 4,321 |
Prashkovsky Investments and Construction Ltd. | 389 | 9,933 |
Property & Building Corp. Ltd.(b) | 143 | 8,803 |
Reit 1 Ltd. | 9,875 | 42,757 |
Sella Capital Real Estate Ltd. | 11,010 | 23,649 |
Summit Real Estate Holdings Ltd. | 1,870 | 23,688 |
YH Dimri Construction & Development Ltd. | 352 | 27,683 |
890,411 | ||
Italy — 0.0% | ||
Immobiliare Grande Distribuzione SIIQ SpA | 2,912 | 4,769 |
Japan — 30.9% | ||
Activia Properties Inc. | 37 | 100,612 |
Advance Logistics Investment Corp. | 34 | 27,263 |
Advance Residence Investment Corp. | 73 | 161,636 |
Aeon Mall Co. Ltd. | 4,880 | 57,539 |
AEON REIT Investment Corp. | 91 | 83,573 |
Arealink Co. Ltd. | 500 | 8,883 |
Comforia Residential REIT Inc. | 35 | 75,656 |
CRE Inc./Japan | 800 | 7,544 |
CRE Logistics REIT Inc. | 33 | 32,830 |
Daito Trust Construction Co. Ltd. | 3,300 | 376,473 |
Daiwa House Industry Co. Ltd. | 33,700 | 1,003,094 |
Daiwa House REIT Investment Corp. | 109 | 186,454 |
Daiwa Office Investment Corp. | 14 | 54,513 |
Security | Shares | Value |
Japan (continued) | ||
Daiwa Securities Living Investments Corp. | 122 | $84,764 |
Dear Life Co. Ltd. | 1,300 | 8,990 |
ESCON Japan REIT Investment Corp. | 18 | 14,592 |
Frontier Real Estate Investment Corp. | 26 | 78,703 |
Fukuoka REIT Corp. | 37 | 42,246 |
Global One Real Estate Investment Corp. | 53 | 38,124 |
GLP J-REIT | 252 | 211,176 |
Goldcrest Co. Ltd. | 700 | 11,744 |
Hankyu Hanshin REIT Inc. | 36 | 33,402 |
Health Care & Medical Investment Corp. | 18 | 16,042 |
Heiwa Real Estate Co. Ltd. | 1,600 | 41,994 |
Heiwa Real Estate REIT Inc. | 52 | 48,837 |
Hoshino Resorts REIT Inc. | 13 | 49,683 |
Hulic Co. Ltd. | 30,700 | 315,299 |
Hulic REIT Inc. | 66 | 67,127 |
Ichigo Hotel REIT Investment Corp. | 17 | 12,699 |
Ichigo Inc. | 11,700 | 33,765 |
Ichigo Office REIT Investment Corp. | 54 | 29,315 |
Industrial & Infrastructure Fund Investment Corp. | 129 | 117,130 |
Invincible Investment Corp. | 345 | 154,965 |
Japan Excellent Inc. | 65 | 55,857 |
Japan Hotel REIT Investment Corp. | 239 | 125,325 |
Japan Logistics Fund Inc. | 48 | 87,454 |
Japan Metropolitan Fund Invest | 357 | 222,444 |
Japan Prime Realty Investment Corp. | 51 | 113,123 |
Japan Property Management Center Co. Ltd. | 600 | 4,861 |
Japan Real Estate Investment Corp. | 73 | 260,234 |
JINUSHI Co. Ltd. | 600 | 9,645 |
JSB Co. Ltd. | 600 | 11,272 |
Katitas Co. Ltd. | 2,600 | 33,879 |
Keihanshin Building Co. Ltd. | 2,200 | 22,377 |
Kenedix Office Investment Corp. | 212 | 225,333 |
LA Holdings Co. Ltd/Japan | 200 | 6,381 |
LaSalle Logiport REIT | 96 | 98,370 |
Leopalace21 Corp. | 10,200 | 34,370 |
Marimo Regional Revitalization REIT Inc. | 10 | 8,171 |
Mirai Corp. | 98 | 29,761 |
Mirarth Holdings Inc. | 4,300 | 14,157 |
Mitsubishi Estate Co. Ltd. | 67,700 | 1,235,253 |
Mitsubishi Estate Logistics REIT Investment Corp. | 26 | 66,198 |
Mitsui Fudosan Co. Ltd. | 143,868 | 1,565,745 |
Mitsui Fudosan Logistics Park Inc. | 29 | 87,275 |
Mori Hills REIT Investment Corp. | 84 | 76,463 |
Mori Trust REIT Inc. | 131 | 63,135 |
Nippon Accommodations Fund Inc. | 25 | 107,894 |
Nippon Building Fund Inc. | 87 | 348,010 |
Nippon Hotel & Residential Investment Corp. | 13 | 6,931 |
Nippon Prologis REIT Inc. | 125 | 222,674 |
NIPPON REIT Investment Corp. | 23 | 53,931 |
Nisshin Group Holdings Co. Ltd. | 1,500 | 5,066 |
Nomura Real Estate Holdings Inc. | 5,800 | 163,857 |
Nomura Real Estate Master Fund Inc. | 242 | 239,298 |
NTT UD REIT Investment Corp. | 77 | 62,751 |
One REIT Inc. | 12 | 20,994 |
Orix JREIT Inc. | 142 | 154,520 |
Raysum Co. Ltd. | 300 | 6,824 |
SAMTY Co. Ltd. | 2,100 | 38,367 |
Samty Residential Investment Corp. | 38 | 26,889 |
Sankei Real Estate Inc. | 23 | 13,491 |
Sekisui House REIT Inc. | 225 | 120,688 |
SOSiLA Logistics REIT Inc. | 38 | 30,640 |
SRE Holdings Corp.(b) | 500 | 13,967 |
Security | Shares | Value |
Japan (continued) | ||
Star Asia Investment Corp. | 122 | $47,026 |
Star Mica Holdings Co. Ltd. | 1,300 | 5,329 |
Starts Corp. Inc. | 1,700 | 35,370 |
Starts Proceed Investment Corp. | 13 | 18,152 |
Sumitomo Realty & Development Co. Ltd. | 24,300 | 930,553 |
Sun Frontier Fudousan Co. Ltd. | 1,300 | 16,075 |
Takara Leben Real Estate Investment Corp. | 35 | 23,504 |
TKP Corp.(b) | 900 | 10,414 |
TOC Co. Ltd. | 2,600 | 11,951 |
Tokaido REIT Inc. | 12 | 10,136 |
Tokyo Tatemono Co. Ltd. | 10,700 | 180,736 |
Tokyu Fudosan Holdings Corp. | 31,000 | 250,463 |
Tokyu REIT Inc. | 48 | 51,071 |
Tosei Corp. | 1,400 | 22,198 |
Tosei REIT Investment Corp. | 15 | 14,177 |
United Urban Investment Corp. | 158 | 160,732 |
XYMAX REIT Investment Corp. | 13 | 10,249 |
11,478,678 | ||
Netherlands — 0.6% | ||
Argo Properties NV(a)(b) | 623 | 12,788 |
Brack Capital Properties NV(b) | 1 | 49 |
CTP NV(c) | 5,464 | 97,472 |
Eurocommercial Properties NV | 2,185 | 49,869 |
NSI NV | 948 | 19,432 |
Vastned Retail NV | 901 | 21,822 |
Wereldhave NV | 1,822 | 28,364 |
229,796 | ||
New Zealand — 0.6% | ||
Argosy Property Ltd. | 42,672 | 28,702 |
Goodman Property Trust | 53,413 | 72,758 |
Kiwi Property Group Ltd. | 83,111 | 41,736 |
Precinct Properties Group | 81,185 | 58,932 |
202,128 | ||
Norway — 0.1% | ||
Entra ASA(c) | 3,681 | 38,042 |
Singapore — 7.3% | ||
AIMS APAC REIT(a) | 35,756 | 33,887 |
CapitaLand Ascendas REIT | 182,192 | 373,726 |
CapitaLand Ascott Trust | 125,785 | 88,005 |
CapitaLand China Trust | 60,126 | 32,735 |
Capitaland India Trust | 51,966 | 40,409 |
CapitaLand Integrated Commercial Trust | 258,810 | 379,483 |
CapitaLand Investment Ltd/Singapore | 122,300 | 242,686 |
CDL Hospitality Trusts(a) | 34,962 | 26,407 |
City Developments Ltd. | 26,000 | 112,628 |
Cromwell European REIT | 16,420 | 24,440 |
Digital Core REIT Management Pte Ltd. | 37,500 | 22,500 |
Eagle Hospitality Trust(b)(d) | 53,200 | 1 |
EC World REIT(d) | 15,900 | 2,803 |
ESR-LOGOS REIT | 304,636 | 66,556 |
Far East Hospitality Trust | 53,800 | 25,502 |
Frasers Centrepoint Trust | 58,306 | 94,569 |
Frasers Logistics & Commercial Trust | 149,572 | 117,389 |
Hong Fok Corp. Ltd. | 18,900 | 11,616 |
Keppel DC REIT | 68,903 | 88,251 |
Keppel Pacific Oak U.S. REIT | 38,600 | 5,870 |
Keppel REIT | 114,400 | 73,707 |
Lendlease Global Commercial REIT | 89,192 | 38,303 |
Manulife US Real Estate Investment Trust | 90,050 | 6,936 |
Mapletree Industrial Trust | 105,532 | 182,867 |
Security | Shares | Value |
Singapore (continued) | ||
Mapletree Logistics Trust | 170,711 | $184,573 |
Mapletree Pan Asia Commercial Trust | 118,912 | 112,707 |
Paragon REIT | 64,700 | 40,011 |
Parkway Life REIT | 19,500 | 50,538 |
Prime U.S. REIT | 35,750 | 4,865 |
Sasseur REIT | 26,100 | 13,241 |
Starhill Global REIT | 69,800 | 24,813 |
Suntec REIT | 114,500 | 91,575 |
UOL Group Ltd. | 23,900 | 101,750 |
2,715,349 | ||
South Korea — 0.4% | ||
D&D Platform REIT Co. Ltd., NVS | 2,938 | 7,696 |
ESR Kendall Square REIT Co. Ltd. | 8,182 | 26,772 |
Haesung Industrial Co. Ltd. | 624 | 3,621 |
JR Global REIT | 8,489 | 26,285 |
Koramco Energy Plus Reit | 2,615 | 9,827 |
LOTTE REIT Co. Ltd. | 6,026 | 14,524 |
NH All-One REIT Co. Ltd. | 2,161 | 5,787 |
Shinhan Alpha REIT Co. Ltd. | 3,672 | 18,329 |
SK D&D Co. Ltd.(d) | 272 | 4,991 |
SK Eternix Co. Ltd., NVS | 408 | 3,889 |
SK REITs Co. Ltd. | 6,161 | 18,711 |
140,432 | ||
Spain — 0.8% | ||
Aedas Homes SA(c) | 470 | 8,813 |
Inmobiliaria Colonial SOCIMI SA | 14,617 | 86,599 |
Lar Espana Real Estate SOCIMI SA | 2,561 | 19,948 |
Merlin Properties SOCIMI SA | 17,059 | 183,535 |
Metrovacesa SA(a)(c) | 780 | 6,858 |
305,753 | ||
Sweden — 4.7% | ||
Atrium Ljungberg AB, Class B | 2,746 | 53,668 |
Castellum AB(a)(b) | 21,702 | 285,417 |
Catena AB | 1,658 | 81,010 |
Cibus Nordic Real Estate AB publ | 2,925 | 38,337 |
Corem Property Group AB, Class B | 26,179 | 26,666 |
Dios Fastigheter AB | 5,438 | 43,750 |
Fabege AB | 12,540 | 117,255 |
Fastighets AB Balder, Class B(b) | 33,848 | 248,629 |
Hufvudstaden AB, Class A | 5,896 | 71,600 |
Neobo Fastigheter AB(a)(b) | 5,759 | 10,246 |
NP3 Fastigheter AB | 1,547 | 31,940 |
Nyfosa AB | 7,326 | 72,255 |
Pandox AB, Class B | 4,540 | 76,189 |
Platzer Fastigheter Holding AB, Class B | 3,336 | 28,682 |
Sagax AB, Class B | 10,939 | 288,574 |
Sagax AB, Class D | 5,476 | 15,296 |
Samhallsbyggnadsbolaget i Norden AB(a) | 58,444 | 23,078 |
Wallenstam AB, Class B | 22,388 | 109,440 |
Wihlborgs Fastigheter AB | 13,688 | 126,831 |
1,748,863 | ||
Switzerland — 2.6% | ||
Allreal Holding AG, Registered | 784 | 134,643 |
Intershop Holding AG | 57 | 40,956 |
Mobimo Holding AG, Registered | 374 | 107,408 |
Peach Property Group AG(b) | 667 | 8,860 |
PSP Swiss Property AG, Registered | 2,350 | 308,058 |
Swiss Prime Site AG, Registered | 3,930 | 370,706 |
970,631 | ||
United Kingdom — 9.9% | ||
Abrdn Property Income Trust Ltd. | 19,246 | 11,888 |
Security | Shares | Value |
United Kingdom (continued) | ||
AEW U.K. REIT PLC | 7,589 | $8,218 |
Assura PLC | 152,377 | 81,337 |
Balanced Commercial Property Trust Ltd. | 36,356 | 37,352 |
Big Yellow Group PLC | 10,016 | 134,383 |
British Land Co. PLC (The) | 48,079 | 239,865 |
CLS Holdings PLC | 6,823 | 7,400 |
Custodian Property Income REIT PLC | 22,139 | 22,754 |
Derwent London PLC | 5,744 | 157,394 |
Empiric Student Property PLC | 30,766 | 36,840 |
Grainger PLC | 37,843 | 123,134 |
Great Portland Estates PLC | 12,987 | 63,684 |
Hammerson PLC | 197,927 | 74,591 |
Helical PLC | 5,396 | 14,166 |
Home REIT PLC(b)(d) | 52,824 | 19,027 |
Impact Healthcare REIT PLC, Class B | 20,639 | 21,970 |
Land Securities Group PLC | 38,452 | 319,380 |
Life Science REIT PLC | 18,138 | 9,033 |
LondonMetric Property PLC | 103,899 | 266,625 |
NewRiver REIT PLC | 16,492 | 16,860 |
Picton Property Income Ltd. | 28,469 | 23,416 |
Primary Health Properties PLC | 68,758 | 81,535 |
PRS REIT PLC (The) | 26,483 | 26,573 |
Regional REIT Ltd.(c) | 22,107 | 5,846 |
Safestore Holdings PLC | 11,121 | 106,112 |
Schroder REIT Ltd. | 24,999 | 13,221 |
Segro PLC | 68,455 | 780,491 |
Shaftesbury Capital PLC | 99,535 | 180,670 |
Sirius Real Estate Ltd. | 69,484 | 85,901 |
Supermarket Income REIT PLC | 63,565 | 62,257 |
Target Healthcare REIT PLC | 32,142 | 34,159 |
Triple Point Social Housing REIT PLC(c) | 17,341 | 13,041 |
Tritax Big Box REIT PLC | 97,525 | 193,893 |
U.K. Commercial Property REIT Ltd. | 42,637 | 37,608 |
UNITE Group PLC (The) | 20,316 | 251,315 |
Urban Logistics REIT PLC | 24,150 | 34,870 |
Warehouse REIT PLC | 21,738 | 22,663 |
Workspace Group PLC | 6,966 | 45,092 |
3,664,564 | ||
Total Common Stocks — 99.1% (Cost: $53,064,974) | 36,755,786 |
Security | Shares | Value |
Rights | ||
Austria — 0.0% | ||
Buwog AG(d) | 463 | $— |
Total Rights — 0.0% (Cost: $—) | — | |
Total Long-Term Investments — 99.1% (Cost: $53,064,974) | 36,755,786 | |
Short-Term Securities | ||
Money Market Funds — 2.0% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(e)(f)(g) | 756,008 | 756,311 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(e)(f) | 10,000 | 10,000 |
Total Short-Term Securities — 2.0% (Cost: $766,091) | 766,311 | |
Total Investments — 101.1% (Cost: $53,831,065) | 37,522,097 | |
Liabilities in Excess of Other Assets — (1.1)% | (420,101 ) | |
Net Assets — 100.0% | $37,101,996 |
(a) | All or a portion of this security is on loan. |
(b) | Non-income producing security. |
(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) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(e) | Affiliate of the Fund. |
(f) | Annualized 7-day yield as of period end. |
(g) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $912,455 | $— | $(156,192 )(a) | $109 | $(61 ) | $756,311 | 756,008 | $11,183 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 10,000 | — | 0 (a) | — | — | 10,000 | 10,000 | 1,110 | — |
$109 | $(61 ) | $766,311 | $12,293 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
Mini TOPIX Index | 8 | 06/13/24 | $146 | $2,367 |
Dow Jones U.S. Real Estate Index | 6 | 06/21/24 | 209 | 64 |
$2,431 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $2,431 | $— | $— | $— | $2,431 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $57,797 | $— | $— | $— | $57,797 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(4,834 ) | $— | $— | $— | $(4,834 ) |
Futures contracts: | |
Average notional value of contracts — long | $351,489 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $5,114,653 | $31,614,311 | $26,822 | $36,755,786 |
Rights | — | — | — | — |
Short-Term Securities | ||||
Money Market Funds | 766,311 | — | — | 766,311 |
$5,880,964 | $31,614,311 | $26,822 | $37,522,097 |
Level 1 | Level 2 | Level 3 | Total | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $64 | $2,367 | $— | $2,431 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 8.5% | ||
Arena REIT | 107,796 | $278,825 |
AUB Group Ltd. | 29,588 | 573,400 |
Aussie Broadband Ltd.(a)(b) | 58,812 | 137,127 |
Bapcor Ltd. | 109,616 | 450,705 |
Brickworks Ltd. | 18,980 | 352,265 |
BWP Trust | 156,728 | 368,714 |
Centuria Capital Group | 224,692 | 256,062 |
Champion Iron Ltd. | 146,224 | 705,944 |
Charter Hall Social Infrastructure REIT | 110,231 | 194,560 |
Data#3 Ltd. | 43,576 | 235,113 |
Elders Ltd. | 48,984 | 299,361 |
GrainCorp Ltd., Class A | 71,032 | 381,351 |
Growthpoint Properties Australia Ltd. | 92,156 | 152,507 |
GUD Holdings Ltd. | 45,864 | 352,507 |
Hansen Technologies Ltd. | 52,676 | 167,229 |
Helia Group Ltd. | 100,984 | 257,294 |
HMC Capital Ltd. | 78,260 | 366,410 |
HomeCo Daily Needs REIT | 563,004 | 465,704 |
Imdex Ltd. | 159,120 | 241,421 |
Ingenia Communities Group | 120,068 | 408,959 |
IPH Ltd. | 58,344 | 239,811 |
Kelsian Group Ltd. | 63,908 | 240,542 |
Monadelphous Group Ltd. | 28,808 | 266,128 |
nib holdings Ltd. | 156,208 | 800,107 |
Nine Entertainment Co. Holdings Ltd. | 451,048 | 502,382 |
NRW Holdings Ltd. | 137,072 | 261,521 |
Perseus Mining Ltd. | 439,140 | 615,797 |
PEXA Group Ltd.(a) | 42,848 | 378,302 |
Premier Investments Ltd. | 26,312 | 562,496 |
Regis Resources Ltd.(a) | 225,940 | 296,969 |
Reliance Worldwide Corp. Ltd. | 254,280 | 954,145 |
Sandfire Resources Ltd.(a) | 145,132 | 840,615 |
Super Retail Group Ltd. | 52,728 | 553,315 |
Ventia Services Group Pty Ltd. | 231,036 | 579,789 |
Viva Energy Group Ltd.(c) | 351,000 | 846,913 |
Waypoint REIT Ltd. | 217,308 | 360,997 |
Webjet Ltd.(a) | 119,600 | 687,708 |
15,632,995 | ||
Austria — 2.0% | ||
BAWAG Group AG(c) | 25,844 | 1,635,704 |
UNIQA Insurance Group AG | 36,192 | 312,600 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 12,532 | 390,732 |
Wienerberger AG | 34,268 | 1,248,239 |
3,587,275 | ||
Belgium — 1.3% | ||
Bekaert SA | 10,608 | 543,935 |
bpost SA | 34,268 | 128,064 |
Colruyt Group NV | 15,600 | 720,663 |
KBC Ancora | 11,440 | 557,448 |
Proximus SADP | 45,396 | 367,218 |
X-Fab Silicon Foundries SE(a)(c) | 16,744 | 126,673 |
2,444,001 | ||
Canada — 19.0% | ||
Allied Properties REIT | 41,080 | 535,885 |
AltaGas Ltd. | 90,532 | 1,999,718 |
ARC Resources Ltd. | 195,000 | 3,476,616 |
B2Gold Corp. | 414,284 | 1,085,754 |
Brookfield Renewable Corp., Class A | 43,108 | 1,057,849 |
Canadian Western Bank | 29,952 | 623,562 |
Security | Shares | Value |
Canada (continued) | ||
Celestica Inc.(a) | 37,804 | $1,698,536 |
CI Financial Corp. | 46,592 | 595,750 |
Definity Financial Corp. | 23,660 | 753,529 |
Dream Industrial REIT | 81,484 | 792,853 |
Eldorado Gold Corp.(a) | 59,176 | 831,797 |
Enerplus Corp. | 67,444 | 1,324,931 |
Granite REIT | 19,500 | 1,112,949 |
H&R REIT | 83,720 | 571,710 |
iA Financial Corp. Inc. | 32,864 | 2,041,642 |
Kinross Gold Corp. | 394,992 | 2,423,228 |
Linamar Corp. | 13,728 | 729,701 |
Lundin Mining Corp. | 219,076 | 2,241,625 |
MEG Energy Corp.(a) | 91,832 | 2,108,431 |
Mullen Group Ltd. | 26,468 | 283,722 |
North West Co. Inc. (The) | 15,392 | 446,005 |
Onex Corp. | 21,476 | 1,608,778 |
Paramount Resources Ltd., Class A | 23,400 | 474,893 |
Parex Resources Inc. | 33,332 | 532,505 |
Primo Water Corp. | 50,076 | 911,649 |
Prinmaris REIT | 31,200 | 321,317 |
Russel Metals Inc. | 19,240 | 640,173 |
Stelco Holdings Inc. | 13,780 | 454,433 |
Transcontinental Inc., Class A | 23,296 | 252,987 |
West Fraser Timber Co. Ltd. | 24,960 | 2,155,197 |
Whitecap Resources Inc. | 93,860 | 710,247 |
34,797,972 | ||
Denmark — 1.5% | ||
Alm Brand A/S | 276,900 | 527,953 |
NKT A/S(a) | 17,368 | 1,436,811 |
Schouw & Co. A/S | 4,056 | 312,625 |
Spar Nord Bank A/S | 25,688 | 428,762 |
2,706,151 | ||
Finland — 2.6% | ||
Cargotec OYJ, Class B | 14,196 | 989,806 |
Huhtamaki OYJ | 30,056 | 1,259,098 |
Kemira OYJ | 36,764 | 694,983 |
Konecranes OYJ | 22,984 | 1,193,010 |
Metsa Board OYJ, Class B | 55,744 | 422,309 |
Sanoma OYJ | 24,440 | 179,401 |
4,738,607 | ||
France — 2.2% | ||
Aperam SA | 13,676 | 432,303 |
Fnac Darty SA | 3,588 | 112,420 |
Imerys SA | 12,584 | 428,699 |
IPSOS SA | 12,220 | 861,504 |
Mersen SA | 5,359 | 211,018 |
Metropole Television SA | 21,008 | 313,174 |
Quadient SA | 10,972 | 225,652 |
Television Francaise 1 SA | 34,216 | 312,540 |
Vallourec SACA(a)(b) | 52,624 | 977,466 |
Vicat SACA | 4,940 | 194,862 |
4,069,638 | ||
Germany — 3.1% | ||
1&1 AG | 14,976 | 258,833 |
Aurubis AG | 9,672 | 680,242 |
Bilfinger SE | 8,372 | 391,026 |
Deutz AG | 40,040 | 254,092 |
flatexDEGIRO AG(a) | 26,936 | 301,751 |
Freenet AG | 38,532 | 1,084,360 |
Hornbach Holding AG & Co. KGaA | 2,860 | 229,761 |
Indus Holding AG | 6,136 | 175,732 |
Security | Shares | Value |
Germany (continued) | ||
Kloeckner & Co. SE | 21,397 | $155,827 |
Kontron AG | 13,104 | 289,005 |
SGL Carbon SE(a)(b) | 16,536 | 124,068 |
Siltronic AG | 6,760 | 599,782 |
Suedzucker AG | 19,448 | 278,787 |
United Internet AG, Registered(d) | 25,532 | 574,575 |
Vitesco Technologies Group AG(a) | 2,704 | 187,803 |
5,585,644 | ||
Hong Kong — 0.3% | ||
CITIC Telecom International Holdings Ltd. | 468,000 | 151,316 |
Luk Fook Holdings International Ltd. | 104,000 | 285,097 |
VSTECS Holdings Ltd.(b) | 208,000 | 111,447 |
547,860 | ||
Ireland — 0.3% | ||
Dalata Hotel Group PLC | 70,304 | 341,693 |
Greencore Group PLC(a) | 157,664 | 237,402 |
579,095 | ||
Israel — 0.5% | ||
Danel Adir Yeoshua Ltd. | 1,560 | 133,392 |
FIBI Holdings Ltd. | 5,616 | 250,404 |
Formula Systems 1985 Ltd. | 3,068 | 245,571 |
Menora Mivtachim Holdings Ltd. | 7,072 | 190,030 |
Migdal Insurance & Financial Holdings Ltd. | 122,616 | 169,368 |
988,765 | ||
Italy — 2.0% | ||
Banca Popolare di Sondrio SpA | 116,376 | 870,918 |
Biesse SpA(b) | 4,368 | 58,434 |
BPER Banca | 341,224 | 1,613,440 |
Credito Emiliano SpA | 25,119 | 251,348 |
Fincantieri SpA(a)(b) | 141,076 | 103,496 |
Piaggio & C SpA | 52,520 | 166,086 |
Saras SpA | 192,556 | 368,069 |
Webuild SpA | 101,868 | 246,415 |
3,678,206 | ||
Japan — 25.5% | ||
77 Bank Ltd. (The) | 20,800 | 554,791 |
ADEKA Corp. | 31,200 | 658,770 |
Aida Engineering Ltd. | 20,800 | 121,989 |
Aiphone Co. Ltd. | 3,200 | 64,271 |
Aisan Industry Co. Ltd. | 10,400 | 116,146 |
Akatsuki Inc. | 1,600 | 26,766 |
Alconix Corp. | 10,400 | 98,803 |
Alpen Co. Ltd. | 5,200 | 68,996 |
Anest Iwata Corp. | 10,400 | 92,688 |
AOKI Holdings Inc. | 10,400 | 76,938 |
Aoyama Trading Co. Ltd. | 15,600 | 172,758 |
Arata Corp. | 8,000 | 170,095 |
Arcs Co. Ltd. | 10,400 | 214,778 |
Arisawa Manufacturing Co. Ltd. | 10,400 | 77,487 |
Artience Co. Ltd. | 10,400 | 201,836 |
Asahi Diamond Industrial Co. Ltd. | 15,600 | 98,583 |
Asahi Yukizai Corp. | 3,900 | 135,624 |
Aska Pharmaceutical Holdings Co. Ltd. | 5,200 | 76,045 |
Autobacs Seven Co. Ltd. | 15,600 | 162,951 |
Avex Inc. | 10,400 | 88,104 |
Axial Retailing Inc. | 20,800 | 141,177 |
Bando Chemical Industries Ltd. | 10,400 | 129,101 |
Bank of the Ryukyus Ltd. | 10,400 | 81,769 |
Belc Co. Ltd. | 2,500 | 114,660 |
Bell System24 Holdings Inc. | 10,400 | 108,019 |
Belluna Co. Ltd. | 15,600 | 63,347 |
Security | Shares | Value |
Japan (continued) | ||
Bunka Shutter Co. Ltd. | 15,600 | $175,451 |
C.I. Takiron Corp. | 10,400 | 46,231 |
Canon Electronics Inc. | 5,200 | 84,258 |
Cawachi Ltd. | 5,200 | 90,804 |
Chiyoda Corp.(a) | 52,000 | 138,079 |
Chori Co. Ltd. | 5,200 | 116,109 |
Chudenko Corp. | 10,400 | 206,405 |
Citizen Watch Co. Ltd. | 67,600 | 445,464 |
CMK Corp. | 15,600 | 63,551 |
Cosel Co. Ltd. | 5,200 | 51,971 |
Dai-Dan Co. Ltd. | 5,200 | 82,661 |
Daiki Aluminium Industry Co. Ltd. | 10,400 | 84,320 |
Daishi Hokuetsu Financial Group Inc. | 15,300 | 450,165 |
Daito Pharmaceutical Co. Ltd. | 5,200 | 80,216 |
Doshisha Co. Ltd. | 5,200 | 71,725 |
Doutor Nichires Holdings Co. Ltd. | 10,400 | 141,135 |
Eagle Industry Co. Ltd. | 10,400 | 125,554 |
EDION Corp. | 26,000 | 261,710 |
Eiken Chemical Co. Ltd. | 10,400 | 135,411 |
Elematec Corp. | 5,200 | 65,764 |
Exedy Corp. | 10,400 | 208,500 |
FCC Co. Ltd. | 10,400 | 151,417 |
Ferrotec Holdings Corp. | 15,600 | 303,509 |
Fuji Co. Ltd./Ehime | 10,400 | 126,961 |
Fuji Corp./Aichi | 26,000 | 459,604 |
Fuji Pharma Co. Ltd. | 5,200 | 56,006 |
Fuji Seal International Inc. | 15,600 | 204,515 |
Fukuyama Transporting Co. Ltd. | 10,400 | 246,036 |
Furukawa Co. Ltd. | 10,400 | 125,025 |
Futaba Industrial Co. Ltd. | 15,600 | 121,384 |
Gakken Holdings Co. Ltd. | 10,400 | 63,877 |
Godo Steel Ltd. | 2,800 | 106,212 |
Goldcrest Co. Ltd. | 5,200 | 87,244 |
G-Tekt Corp. | 5,200 | 72,790 |
Gunma Bank Ltd. (The) | 124,800 | 708,551 |
Gunze Ltd. | 5,200 | 186,562 |
H2O Retailing Corp. | 26,000 | 332,380 |
Halows Co. Ltd. | 2,800 | 82,749 |
Hamakyorex Co. Ltd. | 5,200 | 131,901 |
Hanwa Co. Ltd. | 10,400 | 405,881 |
Heiwado Co. Ltd. | 10,400 | 139,145 |
Hitachi Zosen Corp. | 52,000 | 454,433 |
Hogy Medical Co. Ltd. | 5,200 | 128,156 |
Hokuetsu Corp.(b) | 41,600 | 511,903 |
Honeys Holdings Co. Ltd. | 5,200 | 59,562 |
Hosiden Corp. | 15,600 | 198,634 |
Hosokawa Micron Corp. | 5,200 | 163,686 |
Inabata & Co. Ltd. | 10,400 | 218,927 |
I-PEX Inc. | 5,200 | 62,661 |
Iriso Electronics Co. Ltd. | 5,200 | 104,184 |
Ishihara Sangyo Kaisha Ltd. | 10,400 | 119,053 |
Itochu Enex Co. Ltd. | 15,600 | 160,664 |
Itochu-Shokuhin Co. Ltd. | 1,600 | 75,980 |
J Trust Co. Ltd. | 31,200 | 90,954 |
Japan Petroleum Exploration Co. Ltd. | 10,400 | 472,814 |
Japan Wool Textile Co. Ltd. (The) | 20,800 | 199,849 |
J-Oil Mills Inc. | 5,200 | 66,586 |
Joshin Denki Co. Ltd. | 5,200 | 79,212 |
Joyful Honda Co. Ltd. | 15,600 | 224,386 |
Juroku Financial Group Inc. | 10,400 | 323,048 |
K&O Energy Group Inc. | 5,200 | 109,276 |
Kaga Electronics Co. Ltd. | 5,200 | 221,088 |
Security | Shares | Value |
Japan (continued) | ||
Kamei Corp. | 5,200 | $70,858 |
Kanamoto Co. Ltd. | 10,400 | 185,503 |
Katakura Industries Co. Ltd. | 5,200 | 65,939 |
Kato Sangyo Co. Ltd. | 5,200 | 156,064 |
Kitz Corp. | 26,000 | 233,247 |
Kiyo Bank Ltd. (The) | 19,200 | 235,948 |
Kohnan Shoji Co. Ltd. | 5,200 | 149,973 |
Komeri Co. Ltd. | 10,400 | 237,127 |
Komori Corp. | 15,600 | 126,957 |
Konishi Co. Ltd. | 15,600 | 158,593 |
Konoike Transport Co. Ltd. | 10,400 | 145,214 |
KPP Group Holdings Co. Ltd. | 15,600 | 76,595 |
Krosaki Harima Corp. | 4,800 | 111,548 |
Kumiai Chemical Industry Co. Ltd. | 31,200 | 170,661 |
Kureha Corp. | 15,600 | 281,343 |
Kurimoto Ltd. | 5,200 | 135,921 |
KYB Corp. | 5,200 | 176,455 |
Kyoei Steel Ltd. | 5,200 | 81,333 |
Kyokuto Securities Co. Ltd. | 5,200 | 54,816 |
Life Corp. | 5,200 | 133,401 |
Lifull Co. Ltd. | 20,800 | 23,169 |
Lintec Corp. | 15,600 | 321,606 |
Makino Milling Machine Co. Ltd. | 5,200 | 216,286 |
Mandom Corp. | 10,400 | 91,757 |
MARUKA FURUSATO Corp. | 5,200 | 75,889 |
Marusan Securities Co. Ltd. | 20,800 | 147,593 |
Matsuda Sangyo Co. Ltd. | 5,200 | 84,442 |
Maxell Ltd. | 10,400 | 109,003 |
MCJ Co. Ltd. | 20,800 | 184,329 |
Megachips Corp.(a) | 5,200 | 132,812 |
Megmilk Snow Brand Co. Ltd. | 15,600 | 276,849 |
Meidensha Corp. | 10,400 | 195,738 |
Meisei Industrial Co. Ltd. | 15,600 | 135,708 |
Mimasu Semiconductor Industry Co. Ltd. | 5,200 | 105,734 |
MIRAIT ONE corp. | 26,000 | 320,489 |
Mitsubishi Pencil Co. Ltd. | 15,600 | 261,420 |
Mitsubishi Shokuhin Co. Ltd. | 5,200 | 191,254 |
Mitsui DM Sugar Holdings Co. Ltd. | 5,200 | 107,049 |
Mitsui-Soko Holdings Co. Ltd. | 5,200 | 160,670 |
Moriroku Holdings Co. Ltd. | 5,200 | 89,261 |
Musashi Seimitsu Industry Co. Ltd. | 15,600 | 174,233 |
Musashino Bank Ltd. (The) | 10,400 | 201,433 |
Nachi-Fujikoshi Corp. | 5,200 | 118,982 |
Nakayama Steel Works Ltd. | 5,200 | 32,227 |
Neturen Co. Ltd. | 10,400 | 75,978 |
Nichias Corp. | 15,600 | 416,840 |
Nichicon Corp. | 20,800 | 175,657 |
Nichiha Corp. | 10,400 | 235,090 |
Nichireki Co. Ltd. | 7,300 | 120,598 |
Nihon Parkerizing Co. Ltd. | 31,200 | 251,279 |
Nikkiso Co. Ltd. | 15,600 | 127,496 |
Nikkon Holdings Co. Ltd. | 15,600 | 301,062 |
Nippn Corp., New | 15,600 | 239,474 |
Nippon Carbon Co. Ltd. | 3,100 | 108,568 |
Nippon Coke & Engineering Co. Ltd. | 46,800 | 39,993 |
Nippon Denko Co. Ltd. | 31,200 | 65,551 |
Nippon Densetsu Kogyo Co. Ltd. | 10,400 | 144,043 |
Nippon Light Metal Holdings Co. Ltd. | 15,600 | 185,121 |
Nippon Road Co. Ltd. (The) | 5,000 | 62,184 |
Nippon Soda Co. Ltd. | 8,000 | 320,303 |
Nippon Thompson Co. Ltd. | 20,800 | 88,038 |
Nippon Yakin Kogyo Co. Ltd. | 5,200 | 165,979 |
Security | Shares | Value |
Japan (continued) | ||
Nishimatsu Construction Co. Ltd. | 10,400 | $298,969 |
Nishi-Nippon Financial Holdings Inc. | 46,800 | 585,128 |
Nishio Holdings Co. Ltd. | 5,200 | 132,986 |
Nissan Shatai Co. Ltd. | 20,800 | 143,038 |
Nissei ASB Machine Co. Ltd. | 2,500 | 85,585 |
Nisshin Oillio Group Ltd. (The) | 5,200 | 174,312 |
Nisshinbo Holdings Inc. | 41,600 | 334,371 |
Nissui Corp. | 93,600 | 586,861 |
Nitta Corp. | 5,200 | 136,185 |
Nittetsu Mining Co. Ltd. | 5,200 | 167,717 |
Nojima Corp. | 20,800 | 232,011 |
Noritake Co. Ltd./Nagoya Japan | 10,400 | 289,302 |
Noritz Corp. | 10,400 | 119,131 |
NS United Kaiun Kaisha Ltd. | 3,000 | 93,745 |
Obara Group Inc. | 3,300 | 82,957 |
Okamoto Industries Inc. | 5,200 | 169,169 |
Okamura Corp. | 20,800 | 306,605 |
Okinawa Financial Group Inc. | 5,200 | 89,500 |
Onward Holdings Co. Ltd. | 36,400 | 129,174 |
Oriental Shiraishi Corp. | 31,200 | 81,529 |
Osaka Steel Co. Ltd. | 5,200 | 75,008 |
Pacific Industrial Co. Ltd. | 15,600 | 173,202 |
Pack Corp. (The) | 5,200 | 129,179 |
Piolax Inc. | 7,200 | 126,232 |
Press Kogyo Co. Ltd. | 26,000 | 121,073 |
Pressance Corp. | 5,200 | 60,857 |
Prima Meat Packers Ltd. | 10,400 | 155,852 |
Qol Holdings Co. Ltd. | 5,200 | 59,577 |
Raito Kogyo Co. Ltd. | 15,600 | 207,648 |
Rheon Automatic Machinery Co. Ltd. | 5,200 | 53,306 |
Riken Technos Corp. | 15,600 | 102,133 |
Roland DG Corp. | 5,200 | 185,821 |
RS Technologies Co. Ltd. | 5,200 | 104,335 |
Ryobi Ltd. | 10,400 | 206,844 |
Ryosan Co. Ltd.(a) | 6,800 | 216,502 |
S Foods Inc. | 5,200 | 115,831 |
Sakai Moving Service Co. Ltd. | 5,500 | 92,466 |
Sakata INX Corp. | 15,600 | 162,430 |
Sala Corp. | 15,600 | 85,256 |
San-A Co. Ltd. | 5,200 | 161,118 |
San-Ai Obbli Co. Ltd. | 15,600 | 212,613 |
San-In Godo Bank Ltd. (The) | 46,800 | 367,401 |
Sanoh Industrial Co. Ltd. | 5,200 | 39,231 |
Sanyo Chemical Industries Ltd. | 3,400 | 94,782 |
Sanyo Denki Co. Ltd. | 2,700 | 126,213 |
Sanyo Special Steel Co. Ltd. | 5,200 | 76,804 |
Sato Holdings Corp. | 5,200 | 79,525 |
Seika Corp. | 5,200 | 128,921 |
Seiko Group Corp. | 10,400 | 280,251 |
Seiren Co. Ltd. | 15,600 | 283,818 |
Sekisui Jushi Corp. | 7,900 | 122,630 |
Senshu Electric Co. Ltd. | 5,200 | 171,599 |
Senshu Ikeda Holdings Inc. | 83,200 | 216,106 |
Shibaura Machine Co. Ltd. | 5,200 | 125,699 |
Shiga Bank Ltd. (The) | 15,600 | 431,258 |
Shikoku Kasei Holdings Corp. | 10,400 | 121,448 |
Shin-Etsu Polymer Co. Ltd. | 10,400 | 105,876 |
Shinmaywa Industries Ltd. | 15,600 | 127,046 |
Shizuoka Gas Co. Ltd. | 15,600 | 97,534 |
Showa Sangyo Co. Ltd. | 5,200 | 118,958 |
Siix Corp. | 10,400 | 118,732 |
Sinfonia Technology Co. Ltd. | 10,400 | 212,975 |
Security | Shares | Value |
Japan (continued) | ||
Sinko Industries Ltd. | 5,200 | $131,450 |
Sintokogio Ltd. | 15,600 | 130,266 |
SKY Perfect JSAT Holdings Inc. | 36,400 | 248,145 |
Sodick Co. Ltd. | 15,600 | 74,253 |
Star Micronics Co. Ltd. | 10,400 | 127,339 |
Starts Corp. Inc. | 10,400 | 216,383 |
Sumitomo Densetsu Co. Ltd. | 5,200 | 115,900 |
Sumitomo Osaka Cement Co. Ltd. | 10,400 | 260,186 |
Sumitomo Riko Co. Ltd. | 10,400 | 92,002 |
Sumitomo Seika Chemicals Co. Ltd. | 2,600 | 86,765 |
Sumitomo Warehouse Co. Ltd. (The) | 15,600 | 262,667 |
Sun Frontier Fudousan Co. Ltd. | 10,400 | 128,596 |
SWCC Corp. | 5,200 | 130,051 |
Tachi-S Co. Ltd. | 10,400 | 136,919 |
Taikisha Ltd. | 10,400 | 324,909 |
Taiyo Holdings Co. Ltd. | 10,400 | 229,150 |
Takara Standard Co. Ltd. | 15,600 | 197,563 |
Takasago International Corp. | 5,200 | 118,162 |
Takasago Thermal Engineering Co. Ltd. | 20,800 | 662,139 |
Takuma Co. Ltd. | 26,000 | 322,925 |
Tamron Co. Ltd. | 5,200 | 231,142 |
Toagosei Co. Ltd. | 36,400 | 381,383 |
Toei Co. Ltd. | 10,000 | 253,736 |
Toho Bank Ltd. (The) | 57,200 | 135,594 |
Toho Holdings Co. Ltd. | 15,600 | 370,720 |
TOKAI Holdings Corp. | 36,400 | 237,280 |
Tokai Rika Co. Ltd. | 15,600 | 267,691 |
Tokuyama Corp. | 20,800 | 364,237 |
Tokyo Kiraboshi Financial Group Inc. | 8,000 | 248,212 |
Tokyo Steel Manufacturing Co. Ltd. | 26,000 | 285,101 |
Tokyotokeiba Co. Ltd. | 5,200 | 153,936 |
Topre Corp. | 15,600 | 265,176 |
Topy Industries Ltd. | 5,200 | 92,768 |
Toyobo Co. Ltd. | 26,000 | 191,254 |
TPR Co. Ltd. | 10,400 | 162,086 |
Trusco Nakayama Corp. | 10,400 | 176,328 |
TSI Holdings Co. Ltd. | 20,800 | 108,025 |
Tsubakimoto Chain Co. | 10,400 | 350,360 |
Tsugami Corp. | 15,600 | 118,648 |
Tsurumi Manufacturing Co. Ltd. | 5,200 | 128,733 |
UACJ Corp. | 10,400 | 297,510 |
Uchida Yoko Co. Ltd. | 2,700 | 123,416 |
Union Tool Co. | 3,000 | 88,078 |
United Arrows Ltd. | 10,400 | 134,199 |
United Super Markets Holdings Inc. | 20,800 | 137,105 |
Universal Entertainment Corp. | 5,200 | 66,166 |
Valor Holdings Co. Ltd. | 10,400 | 169,989 |
VT Holdings Co. Ltd. | 26,000 | 92,043 |
Wakita & Co. Ltd. | 15,600 | 164,749 |
Warabeya Nichiyo Holdings Co. Ltd. | 5,200 | 94,158 |
Xebio Holdings Co. Ltd. | 5,200 | 33,183 |
YAMABIKO Corp. | 10,400 | 138,060 |
Yamazen Corp. | 20,800 | 183,821 |
Yellow Hat Ltd. | 10,400 | 136,125 |
Yodogawa Steel Works Ltd. | 10,400 | 314,785 |
Yokogawa Bridge Holdings Corp. | 10,400 | 200,600 |
Yuasa Trading Co. Ltd. | 5,200 | 181,700 |
ZERIA Pharmaceutical Co. Ltd. | 10,400 | 145,693 |
46,779,389 | ||
Netherlands — 1.5% | ||
Cementir Holding NV | 13,416 | 151,861 |
Eurocommercial Properties NV | 13,780 | 314,508 |
Security | Shares | Value |
Netherlands (continued) | ||
Flow Traders Ltd., NVS(b) | 8,320 | $163,992 |
Fugro NV(a) | 36,134 | 885,760 |
Iveco Group NV(a) | 64,012 | 953,598 |
Koninklijke BAM Groep NV | 85,696 | 324,901 |
2,794,620 | ||
New Zealand — 0.3% | ||
Summerset Group Holdings Ltd. | 75,140 | 511,884 |
Norway — 0.9% | ||
Austevoll Seafood ASA | 29,328 | 230,746 |
DNO ASA | 262,652 | 237,922 |
Elkem ASA(c) | 97,812 | 192,749 |
Hafnia Ltd. | 78,936 | 544,598 |
TGS ASA | 41,860 | 461,541 |
1,667,556 | ||
Poland — 0.2% | ||
Orange Polska SA | 212,628 | 431,200 |
Portugal — 0.3% | ||
Navigator Co. SA (The) | 78,260 | 342,214 |
Sonae SGPS SA | 301,860 | 286,467 |
628,681 | ||
Singapore — 0.9% | ||
Far East Hospitality Trust | 280,800 | 133,105 |
First Resources Ltd. | 166,400 | 168,831 |
Frasers Centrepoint Trust | 348,400 | 565,087 |
Parkway Life REIT | 124,800 | 323,441 |
Raffles Medical Group Ltd. | 306,800 | 236,356 |
Riverstone Holdings Ltd./Singapore(b) | 187,200 | 117,867 |
UMS Holdings Ltd. | 145,600 | 145,557 |
1,690,244 | ||
Spain — 3.4% | ||
Acerinox SA | 61,776 | 678,403 |
Atresmedia Corp. de Medios de Comunicacion SA | 29,640 | 141,839 |
Cia. de Distribucion Integral Logista Holdings SA | 20,228 | 565,326 |
Cie. Automotive SA | 13,780 | 395,210 |
Construcciones y Auxiliar de Ferrocarriles SA | 8,424 | 307,240 |
Ence Energia y Celulosa SA | 40,248 | 140,157 |
Faes Farma SA | 102,284 | 347,048 |
Fluidra SA | 43,940 | 1,039,839 |
Gestamp Automocion SA(c) | 51,792 | 166,321 |
Indra Sistemas SA(b) | 39,052 | 809,336 |
Laboratorios Farmaceuticos Rovi SA | 6,864 | 598,977 |
Pharma Mar SA | 4,628 | 143,349 |
Tecnicas Reunidas SA(a) | 14,352 | 116,489 |
Vidrala SA | 7,384 | 766,598 |
6,216,132 | ||
Sweden — 5.8% | ||
AAK AB | 56,784 | 1,349,375 |
AFRY AB | 31,083 | 496,286 |
Alleima AB, NVS | 59,852 | 403,970 |
Arjo AB, Class B | 72,696 | 347,171 |
Betsson AB | 37,336 | 369,432 |
Bilia AB, Class A | 23,192 | 297,231 |
Billerud Aktiebolag | 67,288 | 603,819 |
Bure Equity AB | 17,628 | 564,968 |
Catena AB | 10,868 | 531,011 |
Clas Ohlson AB, Class B | 11,752 | 159,080 |
Cloetta AB, Class B | 65,936 | 112,054 |
Dometic Group AB(c) | 103,480 | 836,324 |
Electrolux Professional AB, Class B | 73,424 | 480,164 |
Security | Shares | Value |
Sweden (continued) | ||
Elekta AB, Class B | 110,968 | $836,423 |
Granges AB | 33,748 | 365,086 |
Hexpol AB | 79,872 | 975,302 |
Lindab International AB | 21,788 | 468,443 |
Loomis AB, Class B | 23,088 | 644,420 |
Modern Times Group MTG AB, Class B(a) | 30,212 | 235,901 |
NCC AB, Class B | 25,688 | 353,532 |
Ratos AB, Class B | 64,480 | 211,887 |
10,641,879 | ||
Switzerland — 7.6% | ||
ALSO Holding AG, Registered | 832 | 215,922 |
Aryzta AG(a)(b) | 302,952 | 550,107 |
Bucher Industries AG, Registered | 2,109 | 927,398 |
Burckhardt Compression Holding AG | 1,048 | 657,108 |
Comet Holding AG, Registered | 2,392 | 832,141 |
COSMO Pharmaceuticals NV | 2,808 | 222,000 |
dormakaba Holding AG | 988 | 519,600 |
Galenica AG(c) | 15,808 | 1,319,116 |
Interroll Holding AG, Registered | 156 | 518,407 |
Landis+Gyr Group AG | 7,020 | 538,824 |
LEM Holding SA, Registered | 150 | 283,750 |
Medacta Group SA(c) | 2,028 | 275,242 |
Montana Aerospace AG(a)(c) | 7,020 | 131,550 |
Schweiter Technologies AG, NVS | 312 | 175,745 |
SFS Group AG | 5,669 | 745,390 |
Siegfried Holding AG, Registered | 1,352 | 1,380,524 |
SKAN Group AG | 3,484 | 328,756 |
Softwareone Holding AG | 39,156 | 722,113 |
St. Galler Kantonalbank AG, Class A, Registered | 955 | 514,617 |
Stadler Rail AG | 17,212 | 548,754 |
Sulzer AG, Registered | 5,564 | 677,140 |
Swissquote Group Holding SA, Registered | 2,822 | 791,163 |
Valiant Holding AG, Registered | 5,200 | 610,035 |
Ypsomed Holding AG, Registered(b) | 1,092 | 436,279 |
13,921,681 | ||
United Kingdom — 9.2% | ||
Ashmore Group PLC | 147,680 | 364,774 |
Balfour Beatty PLC | 175,609 | 847,127 |
Bank of Georgia Group PLC | 11,180 | 712,597 |
Bellway PLC | 38,876 | 1,304,124 |
Big Yellow Group PLC | 60,320 | 809,305 |
Bodycote PLC | 61,100 | 535,533 |
C&C Group PLC | 130,104 | 268,977 |
Clarkson PLC | 8,112 | 410,566 |
easyJet PLC | 119,860 | 862,749 |
Frasers Group PLC(a) | 40,560 | 416,200 |
Genuit Group PLC | 75,296 | 418,252 |
Grafton Group PLC | 67,288 | 851,144 |
Inchcape PLC | 120,588 | 1,104,037 |
Jupiter Fund Management PLC | 137,176 | 153,507 |
Just Group PLC | 330,876 | 438,987 |
Keller Group PLC | 22,828 | 301,953 |
Lancashire Holdings Ltd. | 78,468 | 613,048 |
Marshalls PLC | 74,412 | 257,655 |
Mitchells & Butlers PLC(a) | 82,680 | 235,466 |
Security | Shares | Value |
United Kingdom (continued) | ||
Pets at Home Group PLC | 153,920 | $521,421 |
Plus500 Ltd. | 24,908 | 567,449 |
Premier Foods PLC | 211,068 | 398,001 |
Redde Northgate PLC | 74,204 | 357,300 |
Redrow PLC | 86,268 | 724,617 |
RHI Magnesita NV | 6,032 | 268,901 |
Serco Group PLC | 353,444 | 846,250 |
Shaftesbury Capital PLC | 437,840 | 794,741 |
TP ICAP Group PLC | 254,904 | 724,609 |
Vesuvius PLC | 68,380 | 426,581 |
Workspace Group PLC | 46,124 | 298,568 |
16,834,439 | ||
Total Common Stocks — 98.9% (Cost: $163,568,462) | 181,473,914 | |
Preferred Stocks | ||
Germany — 0.1% | ||
Draegerwerk AG & Co. KGaA, Preference Shares, NVS | 2,808 | 154,398 |
Italy — 0.2% | ||
Danieli & C Officine Meccaniche SpA, Preference Shares, NVS | 11,960 | 315,339 |
Total Preferred Stocks — 0.3% (Cost: $378,374) | 469,737 | |
Total Long-Term Investments — 99.2% (Cost: $163,946,836) | 181,943,651 | |
Short-Term Securities | ||
Money Market Funds — 1.6% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(e)(f)(g) | 2,982,525 | 2,983,718 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(e)(f) | 40,000 | 40,000 |
Total Short-Term Securities — 1.6% (Cost: $3,023,727) | 3,023,718 | |
Total Investments — 100.8% (Cost: $166,970,563) | 184,967,369 | |
Liabilities in Excess of Other Assets — (0.8)% | (1,465,071 ) | |
Net Assets — 100.0% | $183,502,298 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(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) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(e) | Affiliate of the Fund. |
(f) | Annualized 7-day yield as of period end. |
(g) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $2,137,769 | $845,732 (a) | $— | $506 | $(289 ) | $2,983,718 | 2,982,525 | $33,321 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | — | 40,000 (a) | — | — | — | 40,000 | 40,000 | 5,521 | — |
$506 | $(289 ) | $3,023,718 | $38,842 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
Mini TOPIX Index | 20 | 06/13/24 | $365 | $6,502 |
Mini S&P/TSX 60 Index | 9 | 06/20/24 | 446 | 4,003 |
FTSE 250 Index | 14 | 06/21/24 | 706 | 7,993 |
$18,498 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $18,498 | $— | $— | $— | $18,498 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $107,508 | $— | $— | $— | $107,508 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $8,927 | $— | $— | $— | $8,927 |
Futures contracts: | |
Average notional value of contracts — long | $1,173,051 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $50,059,434 | $131,414,480 | $— | $181,473,914 |
Preferred Stocks | — | 469,737 | — | 469,737 |
Short-Term Securities | ||||
Money Market Funds | 3,023,718 | — | — | 3,023,718 |
$53,083,152 | $131,884,217 | $— | $184,967,369 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $4,003 | $14,495 | $— | $18,498 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Australia — 2.3% | ||
Altium Ltd. | 6,266 | $266,162 |
AUB Group Ltd. | 12,835 | 248,736 |
Bapcor Ltd. | 77,359 | 318,075 |
Brickworks Ltd. | 13,190 | 244,803 |
CAR Group Ltd. | 39,957 | 939,224 |
Charter Hall Group | 103,832 | 929,871 |
Computershare Ltd. | 112,679 | 1,919,249 |
CSL Ltd. | 39,161 | 7,347,677 |
IPH Ltd. | 79,847 | 328,194 |
Johns Lyng Group Ltd. | 17,625 | 73,646 |
Netwealth Group Ltd. | 7,141 | 98,194 |
Northern Star Resources Ltd. | 136,768 | 1,290,483 |
Pro Medicus Ltd. | 1,019 | 68,906 |
PSC Insurance Group Ltd. | 40,193 | 142,012 |
Steadfast Group Ltd. | 155,349 | 595,227 |
Technology One Ltd. | 18,228 | 201,475 |
15,011,934 | ||
Austria — 0.1% | ||
Telekom Austria AG, Class A | 36,662 | 306,404 |
Belgium — 0.3% | ||
Elia Group SA/NV | 3,137 | 338,624 |
Lotus Bakeries NV | 14 | 135,180 |
UCB SA | 9,288 | 1,146,574 |
1,620,378 | ||
Brazil — 0.4% | ||
Localiza Rent a Car SA | 159,703 | 1,741,149 |
WEG SA | 156,674 | 1,193,314 |
2,934,463 | ||
Canada — 20.2% | ||
Agnico Eagle Mines Ltd. | 72,855 | 4,344,246 |
Alimentation Couche-Tard Inc. | 26,959 | 1,538,666 |
Atco Ltd., Class I, NVS | 17,490 | 486,913 |
Brookfield Asset Management Ltd. | 56,218 | 2,361,525 |
Canadian Imperial Bank of Commerce | 239,741 | 12,153,863 |
Canadian National Railway Co. | 48,847 | 6,432,276 |
Canadian Natural Resources Ltd. | 199,970 | 15,254,439 |
Canadian Tire Corp. Ltd., Class A, NVS | 13,155 | 1,312,052 |
Canadian Western Bank | 22,108 | 460,260 |
Cargojet Inc. | 839 | 69,310 |
CCL Industries Inc., Class B, NVS | 10,867 | 555,404 |
Cogeco Communications Inc. | 2,473 | 109,688 |
Dollarama Inc. | 3,585 | 273,106 |
Empire Co. Ltd., Class A, NVS | 15,691 | 383,196 |
Enghouse Systems Ltd. | 5,292 | 119,276 |
EQB Inc. | 2,561 | 160,612 |
Finning International Inc. | 19,350 | 568,693 |
FirstService Corp. | 1,106 | 183,102 |
Fortis Inc./Canada | 104,750 | 4,138,806 |
Franco-Nevada Corp. | 11,632 | 1,385,999 |
George Weston Ltd. | 4,704 | 635,546 |
Great-West Lifeco Inc. | 66,637 | 2,131,125 |
Hydro One Ltd.(a) | 44,222 | 1,289,557 |
iA Financial Corp. Inc. | 17,758 | 1,103,197 |
Imperial Oil Ltd. | 18,136 | 1,250,929 |
Intact Financial Corp. | 17,223 | 2,797,792 |
Loblaw Companies Ltd. | 9,033 | 1,000,962 |
Magna International Inc. | 45,355 | 2,470,743 |
Manulife Financial Corp. | 413,609 | 10,329,920 |
Maple Leaf Foods Inc. | 13,208 | 216,566 |
Security | Shares | Value |
Canada (continued) | ||
Metro Inc./CN | 18,839 | $1,011,385 |
North West Co. Inc. (The) | 9,145 | 264,989 |
Open Text Corp. | 34,999 | 1,358,051 |
Parkland Corp. | 21,753 | 692,794 |
Power Corp. of Canada | 145,437 | 4,077,884 |
Premium Brands Holdings Corp., Class A | 7,475 | 488,382 |
RB Global Inc. | 12,855 | 979,108 |
Royal Bank of Canada | 175,601 | 17,711,128 |
Saputo Inc. | 31,878 | 627,182 |
Stantec Inc. | 3,920 | 325,454 |
Stella-Jones Inc. | 2,609 | 152,162 |
Sun Life Financial Inc. | 120,412 | 6,570,190 |
TFI International Inc. | 3,696 | 589,374 |
TMX Group Ltd. | 26,833 | 707,795 |
Toromont Industries Ltd. | 5,652 | 543,899 |
Toronto-Dominion Bank (The) | 285,564 | 17,234,400 |
Tourmaline Oil Corp. | 26,647 | 1,245,841 |
Waste Connections Inc. | 8,237 | 1,416,079 |
Wheaton Precious Metals Corp. | 30,687 | 1,445,373 |
132,959,239 | ||
China — 4.0% | ||
Apeloa Pharmaceutical Co. Ltd., Class A | 11,100 | 19,036 |
Asymchem Laboratories Tianjin Co. Ltd., Class A | 2,800 | 34,463 |
Bank of Chengdu Co. Ltd., Class A | 119,000 | 221,892 |
Bank of Communications Co. Ltd., Class A | 1,108,000 | 953,990 |
China Coal Energy Co. Ltd. | 58,800 | 90,381 |
China Coal Energy Co. Ltd., Class H | 652,000 | 635,088 |
China Construction Bank Corp., Class A | 235,200 | 221,253 |
China Foods Ltd. | 210,000 | 78,077 |
China Merchants Bank Co. Ltd., Class A | 537,500 | 2,385,979 |
China Merchants Bank Co. Ltd., Class H | 1,320,000 | 5,231,842 |
China Merchants Energy Shipping Co. Ltd., Class A | 118,000 | 125,274 |
China National Nuclear Power Co. Ltd., Class A | 171,300 | 211,179 |
China Overseas Property Holdings Ltd. | 160,000 | 88,682 |
China Railway Group Ltd., Class A | 327,000 | 306,938 |
CSPC Pharmaceutical Group Ltd. | 2,256,000 | 1,775,698 |
ENN Energy Holdings Ltd. | 221,600 | 1,724,260 |
Greentown China Holdings Ltd. | 508,000 | 405,728 |
Guangdong Construction Engineering Group Co. Ltd. | 34,500 | 19,181 |
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. | 42,000 | 103,271 |
Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A | 5,600 | 43,698 |
Haier Smart Home Co. Ltd., Class A | 377,600 | 1,175,016 |
Huaibei Mining Holdings Co. Ltd. | 71,900 | 162,266 |
Huaxia Bank Co. Ltd., Class A | 460,000 | 409,991 |
IEIT Systems Co. Ltd., Class A | 2,500 | 15,275 |
Industrial & Commercial Bank of China Ltd., Class A | 3,082,000 | 2,228,911 |
Jiangsu King's Luck Brewery JSC Ltd., Class A | 7,800 | 63,844 |
Jiangsu Pacific Quartz Co. Ltd., NVS | 4,600 | 57,515 |
Kweichow Moutai Co. Ltd., Class A | 9,100 | 2,134,765 |
Luzhou Laojiao Co. Ltd., Class A | 17,600 | 449,030 |
Metallurgical Corp. of China Ltd., Class A | 232,800 | 109,998 |
NAURA Technology Group Co. Ltd., Class A | 800 | 33,786 |
Ping An Insurance Group Co. of China Ltd., Class A | 291,000 | 1,632,724 |
Shanghai Tunnel Engineering Co. Ltd., Class A | 117,600 | 97,096 |
Shede Spirits Co. Ltd. | 3,000 | 32,053 |
Sinoma Science & Technology Co. Ltd., Class A | 34,400 | 71,449 |
Tsingtao Brewery Co. Ltd., Class A | 5,900 | 68,398 |
Tsingtao Brewery Co. Ltd., Class H | 110,000 | 757,040 |
Wuliangye Yibin Co. Ltd., Class A | 50,500 | 1,065,766 |
Xi'An Shaangu Power Co. Ltd. | 35,000 | 41,736 |
Security | Shares | Value |
China (continued) | ||
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A | 1,400 | $44,479 |
Zhengzhou Coal Mining Machinery Group Co. Ltd. | 33,000 | 63,934 |
Zhongsheng Group Holdings Ltd. | 370,500 | 643,548 |
26,034,530 | ||
Colombia — 0.1% | ||
Grupo Argos SA | 74,182 | 295,173 |
Grupo Nutresa SA | 16,975 | 201,579 |
496,752 | ||
Denmark — 4.0% | ||
Carlsberg A/S, Class B | 16,870 | 2,310,263 |
DSV A/S | 6,622 | 1,076,437 |
Novo Nordisk A/S | 156,818 | 20,115,572 |
Orsted A/S(a)(b) | 42,876 | 2,395,860 |
Scandinavian Tobacco Group A/S, Class A(a) | 20,776 | 372,017 |
26,270,149 | ||
Finland — 0.3% | ||
Huhtamaki OYJ | 15,680 | 656,863 |
Valmet OYJ | 52,777 | 1,389,315 |
2,046,178 | ||
France — 4.8% | ||
Equasens | 588 | 32,531 |
Sanofi SA | 205,268 | 19,969,379 |
Schneider Electric SE | 50,947 | 11,517,914 |
31,519,824 | ||
Germany — 4.8% | ||
Atoss Software AG | 324 | 95,786 |
Bechtle AG | 7,330 | 387,421 |
Brenntag SE | 18,708 | 1,576,729 |
Deutsche Boerse AG | 21,836 | 4,471,792 |
E.ON SE | 596,659 | 8,306,636 |
FUCHS SE | 5,880 | 230,916 |
Nemetschek SE | 2,352 | 232,808 |
Nexus AG | 417 | 25,310 |
SAP SE | 78,969 | 15,376,752 |
Symrise AG, Class A | 8,284 | 991,685 |
31,695,835 | ||
Greece — 0.1% | ||
Mytilineos SA | 21,801 | 841,075 |
Hong Kong — 1.9% | ||
AIA Group Ltd. | 1,858,000 | 12,497,973 |
Nissin Foods Co. Ltd. | 57,000 | 36,048 |
United Laboratories International Holdings Ltd. (The) | 218,000 | 249,753 |
12,783,774 | ||
India — 3.4% | ||
Asian Paints Ltd. | 43,566 | 1,486,792 |
Astral Ltd. | 978 | 23,391 |
Balaji Amines Ltd. | 196 | 4,815 |
Berger Paints India Ltd. | 7,988 | 55,025 |
Bharat Electronics Ltd. | 206,206 | 499,425 |
CRISIL Ltd. | 1,293 | 78,727 |
Grindwell Norton Ltd. | 1,568 | 35,827 |
Honeywell Automation India Ltd. | 55 | 25,562 |
Indraprastha Gas Ltd. | 70,168 | 363,423 |
Infosys Ltd. | 570,753 | 10,278,200 |
ITC Ltd. | 602,792 | 3,104,115 |
KEI Industries Ltd. | 980 | 40,837 |
LTIMindtree Ltd.(a) | 6,822 | 405,402 |
Mphasis Ltd. | 10,294 | 296,076 |
Security | Shares | Value |
India (continued) | ||
NHPC Ltd., NVS | 375,242 | $405,734 |
Persistent Systems Ltd., NVS | 3,906 | 187,370 |
Pidilite Industries Ltd. | 6,500 | 235,115 |
Redington Ltd. | 132,631 | 332,335 |
Reliance Industries Ltd. | 80,256 | 2,869,808 |
Schaeffler India Ltd. | 1,909 | 64,376 |
Sun Pharmaceutical Industries Ltd. | 58,583 | 1,140,480 |
Tata Elxsi Ltd. | 1,831 | 171,313 |
Vinati Organics Ltd. | 164 | 2,895 |
ZF Commercial Vehicle Control Systems India Ltd. | 198 | 36,040 |
22,143,083 | ||
Indonesia — 0.7% | ||
Bank Central Asia Tbk PT | 7,509,600 | 4,775,636 |
Ireland — 0.6% | ||
Kerry Group PLC, Class A | 12,892 | 1,104,664 |
Smurfit Kappa Group PLC | 58,486 | 2,666,717 |
3,771,381 | ||
Italy — 3.9% | ||
Buzzi SpA | 7,573 | 297,414 |
DiaSorin SpA | 1,623 | 156,627 |
Enel SpA | 2,931,064 | 19,349,406 |
Interpump Group SpA | 2,744 | 133,734 |
Iren SpA | 232,121 | 474,865 |
Italgas SpA | 188,767 | 1,099,713 |
Recordati Industria Chimica e Farmaceutica SpA | 13,834 | 763,882 |
Reply SpA | 1,170 | 165,569 |
Terna - Rete Elettrica Nazionale | 384,691 | 3,179,744 |
25,620,954 | ||
Japan — 19.8% | ||
AGC Inc. | 42,000 | 1,523,857 |
Aica Kogyo Co. Ltd. | 9,300 | 227,531 |
Air Water Inc. | 26,300 | 411,502 |
Alfresa Holdings Corp. | 23,900 | 347,309 |
ASKUL Corp. | 3,200 | 46,595 |
Astellas Pharma Inc. | 359,900 | 3,866,314 |
Chiba Bank Ltd. (The) | 85,900 | 714,789 |
CyberAgent Inc. | 34,300 | 249,452 |
Daihen Corp. | 2,200 | 137,317 |
DCM Holdings Co. Ltd. | 15,800 | 152,820 |
Dentsu Soken Inc. | 2,100 | 68,597 |
DTS Corp. | 4,400 | 115,013 |
eGuarantee Inc. | 2,500 | 29,647 |
Elecom Co. Ltd. | 4,900 | 50,329 |
EXEO Group Inc. | 31,400 | 333,662 |
Fuji Soft Inc. | 2,900 | 114,978 |
FUJIFILM Holdings Corp. | 85,500 | 1,919,868 |
Fujimi Inc. | 7,000 | 160,617 |
Fujitsu General Ltd. | 3,700 | 45,811 |
Fujitsu Ltd. | 89,000 | 1,424,356 |
Future Corp. | 4,500 | 49,582 |
Goldwin Inc. | 2,400 | 152,812 |
G-Tekt Corp. | 3,900 | 54,592 |
Heiwa Real Estate Co. Ltd. | 4,100 | 107,609 |
Hitachi Ltd. | 54,800 | 5,007,648 |
Hogy Medical Co. Ltd. | 2,300 | 56,685 |
Hulic Co. Ltd. | 91,400 | 938,709 |
Inpex Corp. | 151,300 | 2,299,940 |
Insource Co. Ltd. | 4,300 | 25,864 |
Japan Elevator Service Holdings Co. Ltd. | 2,200 | 35,923 |
Japan Material Co. Ltd. | 2,600 | 41,557 |
Security | Shares | Value |
Japan (continued) | ||
JCU Corp. | 1,900 | $48,347 |
Kameda Seika Co. Ltd. | 1,100 | 30,864 |
Kandenko Co. Ltd. | 11,400 | 130,136 |
Kao Corp. | 61,800 | 2,309,357 |
Katitas Co. Ltd. | 5,600 | 72,970 |
KDDI Corp. | 232,400 | 6,871,306 |
KeePer Technical Laboratory Co. Ltd. | 600 | 19,722 |
Keihanshin Building Co. Ltd. | 4,600 | 46,789 |
Kobayashi Pharmaceutical Co. Ltd. | 5,000 | 162,242 |
Kohnan Shoji Co. Ltd. | 2,500 | 72,102 |
Kokuyo Co. Ltd. | 13,400 | 219,125 |
Komeri Co. Ltd. | 2,300 | 52,442 |
Kubota Corp. | 122,500 | 1,921,992 |
Kurita Water Industries Ltd. | 7,200 | 298,512 |
Kusuri no Aoki Holdings Co. Ltd. | 1,000 | 20,611 |
Kyowa Kirin Co. Ltd. | 25,400 | 456,974 |
Lasertec Corp. | 2,100 | 579,865 |
Life Corp. | 2,700 | 69,266 |
M3 Inc. | 20,200 | 290,705 |
Maruzen Showa Unyu Co. Ltd. | 2,300 | 70,502 |
Max Co. Ltd. | 3,800 | 80,249 |
MCJ Co. Ltd. | 9,600 | 85,075 |
Medipal Holdings Corp. | 25,400 | 388,710 |
Mimasu Semiconductor Industry Co. Ltd. | 1,700 | 34,567 |
Mitsubishi Corp. | 428,400 | 9,900,845 |
Mitsubishi Research Institute Inc. | 1,500 | 49,177 |
Mitsubishi UFJ Financial Group Inc. | 1,371,900 | 13,957,841 |
Monogatari Corp. (The) | 1,000 | 30,706 |
MonotaRO Co. Ltd. | 11,800 | 142,036 |
Morinaga & Co. Ltd. | 7,400 | 127,020 |
MS&AD Insurance Group Holdings Inc. | 192,600 | 3,400,841 |
Murata Manufacturing Co. Ltd. | 148,100 | 2,769,826 |
NEC Corp. | 14,500 | 1,058,577 |
NEC Networks & System Integration Corp. | 9,000 | 149,839 |
Nichias Corp. | 8,100 | 216,436 |
Nichirei Corp. | 11,300 | 303,921 |
Nippon Gas Co. Ltd. | 14,600 | 245,895 |
Nippon Parking Development Co. Ltd. | 6,000 | 8,027 |
Nippon Sanso Holdings Corp. | 8,100 | 254,143 |
Nippon Shinyaku Co. Ltd. | 8,400 | 249,413 |
Nippon Telegraph & Telephone Corp. | 3,744,600 | 4,460,202 |
Nissan Chemical Corp. | 18,200 | 689,344 |
Nisshin Seifun Group Inc. | 25,800 | 355,470 |
Nitori Holdings Co. Ltd. | 2,500 | 378,880 |
Nitto Denko Corp. | 12,900 | 1,179,601 |
Nomura Real Estate Holdings Inc. | 18,200 | 514,173 |
Nomura Research Institute Ltd. | 22,500 | 635,596 |
NTT Data Group Corp. | 27,700 | 440,373 |
Obic Co. Ltd. | 3,800 | 573,994 |
Okinawa Cellular Telephone Co. | 3,100 | 73,089 |
Open House Group Co. Ltd. | 12,600 | 407,526 |
Oracle Corp./Japan | 2,200 | 165,442 |
Organo Corp. | 1,600 | 79,344 |
PALTAC Corp. | 2,500 | 66,470 |
Pan Pacific International Holdings Corp. | 16,300 | 431,978 |
Raito Kogyo Co. Ltd. | 6,700 | 89,182 |
Riken Keiki Co. Ltd. | 2,000 | 50,405 |
Rinnai Corp. | 10,200 | 234,133 |
Rohto Pharmaceutical Co. Ltd. | 8,100 | 157,382 |
S Foods Inc. | 2,000 | 44,550 |
Sangetsu Corp. | 11,500 | 251,362 |
SBS Holdings Inc. | 2,200 | 37,602 |
Security | Shares | Value |
Japan (continued) | ||
SCSK Corp. | 13,900 | $258,370 |
Sekisui House Ltd. | 108,400 | 2,469,099 |
Seven & i Holdings Co. Ltd. | 424,400 | 6,186,003 |
Shin-Etsu Chemical Co. Ltd. | 159,400 | 6,991,589 |
Shin-Etsu Polymer Co. Ltd. | 5,200 | 52,938 |
Shionogi & Co. Ltd. | 27,900 | 1,425,739 |
Ship Healthcare Holdings Inc. | 7,700 | 106,359 |
Shizuoka Gas Co. Ltd. | 3,500 | 21,883 |
SHO-BOND Holdings Co. Ltd. | 4,200 | 176,565 |
Shoei Co. Ltd. | 7,900 | 119,414 |
SMS Co. Ltd. | 1,800 | 30,956 |
Sompo Holdings Inc. | 145,800 | 3,055,977 |
Sony Group Corp. | 38,400 | 3,292,828 |
Strike Co. Ltd. | 900 | 28,814 |
Sumitomo Mitsui Financial Group Inc. | 196,500 | 11,489,887 |
Sumitomo Realty & Development Co. Ltd. | 29,200 | 1,118,195 |
Sundrug Co. Ltd. | 6,900 | 214,212 |
Taiyo Yuden Co. Ltd. | 16,700 | 395,366 |
Takeuchi Manufacturing Co. Ltd. | 7,300 | 292,628 |
TDK Corp. | 26,900 | 1,321,004 |
TechnoPro Holdings Inc. | 13,500 | 270,381 |
Terumo Corp. | 53,800 | 984,467 |
TIS Inc. | 19,600 | 420,534 |
Tokio Marine Holdings Inc. | 248,900 | 7,802,081 |
Tokyo Steel Manufacturing Co. Ltd. | 6,900 | 75,661 |
Tokyo Tatemono Co. Ltd. | 32,600 | 550,652 |
Tri Chemical Laboratories Inc. | 1,000 | 32,774 |
Unicharm Corp. | 16,700 | 531,665 |
Valor Holdings Co. Ltd. | 4,800 | 78,457 |
Yakult Honsha Co. Ltd. | 21,300 | 435,339 |
Yamaguchi Financial Group Inc. | 28,700 | 291,539 |
Yaoko Co. Ltd. | 1,200 | 72,155 |
Yokogawa Bridge Holdings Corp. | 5,600 | 108,015 |
Zensho Holdings Co. Ltd. | 2,200 | 91,487 |
130,017,389 | ||
Malaysia — 0.0% | ||
Allianz Malaysia Bhd | 19,800 | 83,417 |
TIME dotCom Bhd | 172,300 | 188,936 |
272,353 | ||
Mexico — 0.3% | ||
Corporativo Fragua SAB de CV | 12,204 | 492,366 |
Grupo Bimbo SAB de CV, Series A | 91,552 | 433,775 |
Grupo Comercial Chedraui SA de CV | 7,854 | 63,338 |
Orbia Advance Corp. SAB de CV | 366,807 | 767,562 |
1,757,041 | ||
Netherlands — 1.2% | ||
IMCD NV | 5,292 | 931,445 |
Koninklijke KPN NV | 841,165 | 3,146,297 |
Koninklijke Vopak NV | 15,418 | 594,621 |
Wolters Kluwer NV | 19,851 | 3,108,464 |
7,780,827 | ||
New Zealand — 0.2% | ||
EBOS Group Ltd. | 30,887 | 631,697 |
Mainfreight Ltd.(c) | 13,741 | 572,159 |
Summerset Group Holdings Ltd. | 31,556 | 214,972 |
1,418,828 | ||
Norway — 0.1% | ||
Borregaard ASA | 11,350 | 197,800 |
Europris ASA(a) | 36,479 | 262,718 |
Security | Shares | Value |
Norway (continued) | ||
TOMRA Systems ASA | 21,277 | $333,047 |
793,565 | ||
Philippines — 0.1% | ||
International Container Terminal Services Inc. | 150,830 | 853,223 |
Poland — 0.0% | ||
Dom Development SA | 5,208 | 228,697 |
Neuca SA | 196 | 43,770 |
272,467 | ||
Portugal — 0.0% | ||
Sonae SGPS SA | 306,478 | 290,850 |
Saudi Arabia — 0.0% | ||
Mouwasat Medical Services Co. | 7,482 | 272,109 |
South Africa — 0.4% | ||
Gold Fields Ltd. | 150,615 | 2,416,222 |
PSG Financial Services Ltd. | 202,468 | 163,557 |
2,579,779 | ||
South Korea — 0.5% | ||
Cheil Worldwide Inc. | 25,681 | 356,143 |
Hankook Tire & Technology Co. Ltd. | 11,407 | 458,350 |
i-SENS Inc. | 1,365 | 20,312 |
LEENO Industrial Inc. | 892 | 171,291 |
LG Corp. | 23,267 | 1,513,532 |
NICE Information Service Co. Ltd. | 8,624 | 65,438 |
Park Systems Corp. | 160 | 18,062 |
SK Gas Ltd. | 684 | 76,466 |
Youngone Corp. | 6,607 | 198,764 |
Youngone Holdings Co. Ltd. | 580 | 37,217 |
Yuhan Corp. | 2,068 | 118,895 |
3,034,470 | ||
Spain — 3.1% | ||
Iberdrola SA | 1,605,889 | 19,945,709 |
Vidrala SA | 1,936 | 200,993 |
Viscofan SA | 7,668 | 487,440 |
20,634,142 | ||
Sweden — 1.1% | ||
AAK AB | 14,700 | 349,320 |
Assa Abloy AB, Class B | 106,862 | 3,066,758 |
Atrium Ljungberg AB, Class B | 7,979 | 155,942 |
Bravida Holding AB(a) | 48,156 | 422,358 |
Catena AB | 3,332 | 162,802 |
Evolution AB(a) | 20,643 | 2,563,941 |
Instalco AB | 22,439 | 88,607 |
Lifco AB, Class B | 10,388 | 271,275 |
Platzer Fastigheter Holding AB, Class B | 8,428 | 72,463 |
7,153,466 | ||
Switzerland — 11.5% | ||
ALSO Holding AG, Registered | 141 | 36,593 |
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS | 76 | 909,630 |
Chocoladefabriken Lindt & Spruengli AG, Registered | 7 | 844,473 |
Coca-Cola HBC AG, Class DI(b) | 34,826 | 1,100,511 |
DKSH Holding AG | 7,866 | 535,099 |
Geberit AG, Registered | 5,177 | 3,059,523 |
Givaudan SA, Registered | 1,043 | 4,643,162 |
Interroll Holding AG, Registered | 52 | 172,802 |
Logitech International SA, Registered | 13,548 | 1,214,026 |
Nestle SA, Registered | 185,296 | 19,687,692 |
Novartis AG, Registered | 188,896 | 18,296,163 |
Security | Shares | Value |
Switzerland (continued) | ||
Roche Holding AG, Bearer | 7,001 | $1,887,920 |
Roche Holding AG, NVS | 72,916 | 18,616,830 |
Siegfried Holding AG, Registered | 86 | 87,814 |
Sika AG, Registered | 12,753 | 3,794,658 |
Tecan Group AG, Registered | 608 | 251,913 |
Temenos AG, Registered | 6,266 | 448,209 |
75,587,018 | ||
Taiwan — 1.0% | ||
Advantech Co. Ltd. | 80,893 | 1,029,147 |
Alchip Technologies Ltd. | 1,000 | 98,956 |
Allis Electric Co. Ltd. | 16,000 | 54,766 |
Lotes Co. Ltd. | 12,155 | 525,907 |
Sinbon Electronics Co. Ltd. | 47,000 | 411,318 |
Topco Scientific Co. Ltd. | 54,000 | 368,720 |
Unimicron Technology Corp. | 381,000 | 2,265,116 |
Universal Vision Biotechnology Co. Ltd. | 7,000 | 59,747 |
Wistron Corp. | 391,000 | 1,472,929 |
6,286,606 | ||
Thailand — 0.1% | ||
Gulf Energy Development PCL, NVDR | 713,500 | 856,296 |
Turkey — 0.0% | ||
Enerjisa Enerji AS(a) | 53,758 | 96,277 |
United Kingdom — 7.9% | ||
Ashtead Group PLC | 42,249 | 3,009,360 |
BAE Systems PLC | 418,553 | 7,134,410 |
Bunzl PLC | 42,646 | 1,640,916 |
Chemring Group PLC | 33,908 | 155,353 |
Clarkson PLC | 4,498 | 227,654 |
Cranswick PLC | 6,567 | 339,845 |
Croda International PLC | 19,383 | 1,199,331 |
DCC PLC | 21,162 | 1,539,664 |
Diageo PLC | 398,443 | 14,743,272 |
Diploma PLC | 13,986 | 656,942 |
Drax Group PLC | 107,280 | 678,913 |
Gamma Communications PLC | 8,283 | 143,016 |
GlobalData PLC, NVS | 48,448 | 111,291 |
Halma PLC | 21,091 | 629,785 |
Hargreaves Lansdown PLC | 124,446 | 1,154,989 |
Hikma Pharmaceuticals PLC | 25,981 | 628,506 |
Hilton Food Group PLC | 18,759 | 199,594 |
JTC PLC(a) | 12,230 | 126,938 |
London Stock Exchange Group PLC | 32,712 | 3,914,123 |
Pearson PLC | 92,605 | 1,219,374 |
RELX PLC | 195,353 | 8,424,681 |
RWS Holdings PLC | 105,890 | 250,726 |
Sage Group PLC (The) | 99,607 | 1,591,923 |
Sirius Real Estate Ltd. | 497,349 | 614,860 |
Softcat PLC | 13,224 | 265,048 |
Spectris PLC | 14,728 | 612,828 |
Spirax-Sarco Engineering PLC | 6,990 | 886,863 |
YouGov PLC | 5,771 | 72,839 |
52,173,044 | ||
Total Common Stocks — 99.2% (Cost: $581,603,623) | 652,961,339 | |
Preferred Stocks | ||
Germany — 0.1% | ||
FUCHS SE, Preference Shares, NVS | 11,263 | 558,004 |
Security | Shares | Value |
South Korea — 0.0% | ||
LG Corp., Preference Shares, NVS | 947 | $45,636 |
Total Preferred Stocks — 0.1% (Cost: $444,746) | 603,640 | |
Total Long-Term Investments — 99.3% (Cost: $582,048,369) | 653,564,979 | |
Short-Term Securities | ||
Money Market Funds — 0.1% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 130,733 | 130,786 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(d)(e) | 230,000 | 230,000 |
Total Short-Term Securities — 0.1% (Cost: $360,805) | 360,786 | |
Total Investments — 99.4% (Cost: $582,409,174) | 653,925,765 | |
Other Assets Less Liabilities — 0.6% | 4,111,779 | |
Net Assets — 100.0% | $658,037,544 |
(a) | 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. |
(b) | Non-income producing security. |
(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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $2,609,211 | $— | $(2,478,679 )(a) | $(154 ) | $408 | $130,786 | 130,733 | $19,106 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 1,310,000 | — | (1,080,000 )(a) | — | — | 230,000 | 230,000 | 47,012 | — |
$(154 ) | $408 | $360,786 | $66,118 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
S&P/TSE 60 Index | 4 | 06/20/24 | $792 | $7,195 |
MSCI EAFE Index | 29 | 06/21/24 | 3,418 | 18,281 |
$25,476 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $25,476 | $— | $— | $— | $25,476 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $306,311 | $— | $— | $— | $306,311 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(116,230 ) | $— | $— | $— | $(116,230 ) |
Futures contracts: | |
Average notional value of contracts — long | $3,907,047 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $146,485,434 | $506,475,905 | $— | $652,961,339 |
Preferred Stocks | — | 603,640 | — | 603,640 |
Short-Term Securities | ||||
Money Market Funds | 360,786 | — | — | 360,786 |
$146,846,220 | $507,079,545 | $— | $653,925,765 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $25,476 | $— | $— | $25,476 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Security | Shares | Value |
Common Stocks | ||
Brazil — 38.6% | ||
Ambev SA, ADR | 15,582,867 | $38,645,510 |
B3 SA - Brasil, Bolsa, Balcao | 19,947,223 | 47,686,566 |
Banco do Brasil SA | 5,061,287 | 57,138,029 |
CCR SA | 3,503,522 | 9,654,001 |
Centrais Eletricas Brasileiras SA | 3,653,881 | 30,379,798 |
Localiza Rent a Car SA | 3,029,307 | 33,026,779 |
Lojas Renner SA | 3,404,617 | 11,526,577 |
Natura & Co. Holding SA | 2,987,256 | 10,649,627 |
NU Holdings Ltd.(a) | 8,513,171 | 101,562,130 |
Petroleo Brasileiro SA, ADR | 6,572,934 | 99,974,326 |
Rede D'Or Sao Luiz SA(b) | 3,639,293 | 18,365,535 |
Telefonica Brasil SA, ADR NVS | 1,222,788 | 12,313,475 |
Vale SA, Class B, ADR | 12,827,856 | 156,371,565 |
WEG SA | 5,189,710 | 39,527,639 |
666,821,557 | ||
Chile — 5.3% | ||
Banco de Chile | 153,457,365 | 17,068,997 |
Banco Santander Chile, ADR | 548,886 | 10,884,409 |
Cencosud SA | 4,553,305 | 7,900,444 |
Empresas CMPC SA | 3,884,969 | 7,894,683 |
Empresas Copec SA | 1,283,930 | 9,224,189 |
Enel Americas SA | 68,332,459 | 6,661,189 |
Falabella SA(a) | 2,749,276 | 7,216,243 |
Sociedad Quimica y Minera de Chile SA, ADR(c) | 504,533 | 24,802,842 |
91,652,996 | ||
Colombia — 1.8% | ||
Bancolombia SA, ADR | 397,991 | 13,619,252 |
Ecopetrol SA, ADR | 871,967 | 10,324,090 |
Interconexion Electrica SA ESP | 1,563,940 | 8,003,294 |
31,946,636 | ||
Mexico — 28.3% | ||
America Movil SAB de CV | 72,635,174 | 67,815,767 |
Arca Continental SAB de CV | 1,638,710 | 17,901,591 |
Cemex SAB de CV, NVS(a) | 53,475,720 | 48,200,488 |
Fibra Uno Administracion SA de CV | 9,957,559 | 16,562,702 |
Fomento Economico Mexicano SAB de CV | 6,488,374 | 84,803,760 |
Grupo Bimbo SAB de CV, Series A | 5,277,339 | 25,004,122 |
Grupo Financiero Banorte SAB de CV, Class O | 8,760,271 | 93,046,253 |
Grupo Mexico SAB de CV, Series B | 11,000,806 | 65,500,932 |
Wal-Mart de Mexico SAB de CV | 17,257,005 | 69,474,702 |
488,310,317 | ||
Peru — 4.2% | ||
Credicorp Ltd. | 240,064 | 40,674,044 |
Security | Shares | Value |
Peru (continued) | ||
Southern Copper Corp. | 300,422 | $32,000,951 |
72,674,995 | ||
Total Common Stocks — 78.2% (Cost: $1,270,647,240) | 1,351,406,501 | |
Preferred Stocks | ||
Brazil — 20.4% | ||
Banco Bradesco SA, Preference Shares, ADR | 18,765,072 | 53,668,106 |
Gerdau SA, Preference Shares, ADR | 4,085,679 | 18,058,701 |
Itau Unibanco Holding SA, Preference Shares, ADR(c) | 17,118,773 | 118,633,097 |
Itausa SA, Preference Shares, NVS | 19,636,894 | 41,110,856 |
Petroleo Brasileiro SA, Preference Shares, ADR | 8,113,972 | 120,898,183 |
352,368,943 | ||
Total Preferred Stocks — 20.4% (Cost: $386,890,490) | 352,368,943 | |
Total Long-Term Investments — 98.6% (Cost: $1,657,537,730) | 1,703,775,444 | |
Short-Term Securities | ||
Money Market Funds — 0.9% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(d)(e)(f) | 3,739,526 | 3,741,021 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(d)(e) | 11,050,000 | 11,050,000 |
Total Short-Term Securities — 0.9% (Cost: $14,791,021) | 14,791,021 | |
Total Investments — 99.5% (Cost: $1,672,328,751) | 1,718,566,465 | |
Other Assets Less Liabilities — 0.5% | 8,564,677 | |
Net Assets — 100.0% | $1,727,131,142 |
(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. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $28,498,843 | $— | $(24,758,275 )(a) | $(4,148 ) | $4,601 | $3,741,021 | 3,739,526 | $34,231 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 6,620,000 | 4,430,000 (a) | — | — | — | 11,050,000 | 11,050,000 | 153,385 | — |
$(4,148 ) | $4,601 | $14,791,021 | $187,616 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
Bclear MSCI Brazil Index | 241 | 06/21/24 | $14,308 | $2,928 |
Mexican BOLSA Index | 203 | 06/21/24 | 7,098 | 267,776 |
$270,704 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $270,704 | $— | $— | $— | $270,704 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $1,176,451 | $— | $— | $— | $1,176,451 |
Forward foreign currency exchange contracts | — | — | — | (7,509 ) | — | — | (7,509 ) |
$— | $— | $1,176,451 | $(7,509 ) | $— | $— | $1,168,942 | |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $151,267 | $— | $— | $— | $151,267 |
Futures contracts: | |
Average notional value of contracts — long | $19,132,983 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $838,810,944 | $512,595,557 | $— | $1,351,406,501 |
Preferred Stocks | 352,368,943 | — | — | 352,368,943 |
Short-Term Securities | ||||
Money Market Funds | 14,791,021 | — | — | 14,791,021 |
$1,205,970,908 | $512,595,557 | $— | $1,718,566,465 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $270,704 | $— | $— | $270,704 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
iShares Asia 50 ETF | iShares Blockchain and Tech ETF | iShares Emerging Markets Infrastructure ETF | iShares Europe ETF | |
ASSETS | ||||
Investments, at value—unaffiliated(a)(b) | $1,475,040,573 | $23,571,467 | $21,937,749 | $1,689,389,169 |
Investments, at value—affiliated(c) | 3,933,425 | 2,894,621 | 1,688,194 | 6,029,442 |
Cash | — | 9,303 | 9,491 | 4,284 |
Cash pledged for futures contracts | 335,000 | — | 2,000 | — |
Foreign currency collateral pledged for futures contracts(d) | — | — | — | 359,712 |
Foreign currency, at value(e) | 1,468,731 | 20,254 | 6,841 | 2,856,498 |
Receivables: | ||||
Investments sold | — | 58,512 | 1,312,634 | — |
Securities lending income—affiliated | 870 | 15,454 | 658 | 1,433 |
Dividends—unaffiliated | 4,597,697 | 3,912 | 91,212 | 4,453,300 |
Dividends— affiliated | 2,283 | 72 | 116 | 7,191 |
Tax reclaims | — | — | — | 4,371,695 |
Variation margin on futures contracts | 2,553 | — | 12 | 18,139 |
Total assets | 1,485,381,132 | 26,573,595 | 25,048,907 | 1,707,490,863 |
LIABILITIES | ||||
Bank overdraft | 33,086 | — | — | — |
Collateral on securities loaned, at value | 3,130,896 | 2,894,620 | 1,658,474 | 4,310,286 |
Payables: | ||||
Investments purchased | — | 49,161 | 1,372,465 | — |
Investment advisory fees | 613,703 | 8,826 | 11,135 | 843,022 |
IRS compliance fee for foreign withholding tax claims | — | — | — | 6,237,305 |
Professional fees | — | — | — | 116,301 |
Total liabilities | 3,777,685 | 2,952,607 | 3,042,074 | 11,506,914 |
Commitments and contingent liabilities | ||||
NET ASSETS | $1,481,603,447 | $23,620,988 | $22,006,833 | $1,695,983,949 |
NET ASSETS CONSIST OF | ||||
Paid-in capital | $1,653,506,332 | $17,798,873 | $55,830,947 | $2,034,762,267 |
Accumulated earnings (loss) | (171,902,885) | 5,822,115 | (33,824,114) | (338,778,318) |
NET ASSETS | $1,481,603,447 | $23,620,988 | $22,006,833 | $1,695,983,949 |
NET ASSET VALUE | ||||
Shares outstanding | 24,150,000 | 750,000 | 1,000,000 | 30,500,000 |
Net asset value | $61.35 | $31.49 | $22.01 | $55.61 |
Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
Par value | None | None | None | None |
(a) Investments, at cost—unaffiliated | $1,417,324,158 | $14,585,253 | $19,958,136 | $1,600,494,892 |
(b) Securities loaned, at value | $2,979,009 | $2,873,237 | $1,598,022 | $4,119,502 |
(c) Investments, at cost—affiliated | $3,932,843 | $2,894,072 | $1,688,427 | $6,030,215 |
(d) Foreign currency collateral pledged, at cost | $— | $— | $— | $402,180 |
(e) Foreign currency, at cost | $1,470,682 | $20,403 | $7,127 | $2,825,802 |
iShares Future Metaverse Tech and Communications ETF | iShares India 50 ETF | iShares International Developed Property ETF | iShares International Developed Small Cap Value Factor ETF | |
ASSETS | ||||
Investments, at value—unaffiliated(a)(b) | $6,576,840 | $865,482,129 | $36,755,786 | $181,943,651 |
Investments, at value—affiliated(c) | 448,266 | 16,250,000 | 766,311 | 3,023,718 |
Cash | 6,622 | 32,916 | 7,171 | — |
Cash pledged for futures contracts | — | 171,000 | 14,000 | 64,000 |
Foreign currency collateral pledged for futures contracts(d) | — | — | 6,705 | — |
Foreign currency, at value(e) | 3,862 | 7,639,513 | 107,697 | 367,777 |
Receivables: | ||||
Securities lending income—affiliated | 67 | — | 718 | 4,294 |
Dividends— unaffiliated | 1,326 | 8,375 | 177,726 | 905,704 |
Dividends—affiliated | — | 97,215 | 80 | 123 |
Tax reclaims | 259 | — | 40,451 | 235,105 |
Variation margin on futures contracts | — | 12,254 | — | 2,963 |
Total assets | 7,037,242 | 889,693,402 | 37,876,645 | 186,547,335 |
LIABILITIES | ||||
Bank overdraft | — | — | — | 14,072 |
Collateral on securities loaned, at value | 448,238 | — | 756,837 | 2,982,804 |
Payables: | ||||
Deferred foreign capital gain tax | — | 21,755,506 | 2,941 | — |
Investment advisory fees | 2,625 | 644,519 | 14,673 | 45,769 |
Professional fees | — | — | — | 2,392 |
Variation margin on futures contracts | — | — | 198 | — |
Total liabilities | 450,863 | 22,400,025 | 774,649 | 3,045,037 |
Commitments and contingent liabilities | ||||
NET ASSETS | $6,586,379 | $867,293,377 | $37,101,996 | $183,502,298 |
NET ASSETS CONSIST OF | ||||
Paid-in capital | $5,574,089 | $444,028,048 | $86,827,035 | $176,764,808 |
Accumulated earnings (loss) | 1,012,290 | 423,265,329 | (49,725,039) | 6,737,490 |
NET ASSETS | $6,586,379 | $867,293,377 | $37,101,996 | $183,502,298 |
NET ASSET VALUE | ||||
Shares outstanding | 200,000 | 17,200,000 | 1,300,000 | 5,200,000 |
Net asset value | $32.93 | $50.42 | $28.54 | $35.29 |
Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited |
Par value | None | None | None | None |
(a) Investments, at cost—unaffiliated | $5,947,360 | $705,790,222 | $53,064,974 | $163,946,836 |
(b) Securities loaned, at value | $432,288 | $— | $697,356 | $2,831,975 |
(c) Investments, at cost—affiliated | $448,297 | $16,250,000 | $766,091 | $3,023,727 |
(d) Foreign currency collateral pledged, at cost | $— | $— | $6,850 | $— |
(e) Foreign currency, at cost | $3,885 | $7,639,513 | $107,932 | $369,946 |
iShares International Dividend Growth ETF | iShares Latin America 40 ETF | |
ASSETS | ||
Investments, at value—unaffiliated(a)(b) | $653,564,979 | $1,703,775,444 |
Investments, at value—affiliated(c) | 360,786 | 14,791,021 |
Cash pledged for futures contracts | 121,000 | 1,356,000 |
Foreign currency collateral pledged for futures contracts(d) | 31,006 | 622,215 |
Foreign currency, at value(e) | 1,344,467 | 6,570,648 |
Receivables: | ||
Securities lending income—affiliated | 119 | 13,870 |
Dividends—unaffiliated | 2,087,742 | 4,454,224 |
Dividends— affiliated | 4,198 | 17,500 |
Tax reclaims | 1,024,336 | — |
Variation margin on futures contracts | 1,355 | 4,475 |
Total assets | 658,539,988 | 1,731,605,397 |
LIABILITIES | ||
Bank overdraft | 37,251 | 39,427 |
Bank borrowings | 1,175 | — |
Collateral on securities loaned, at value | 130,959 | 3,741,021 |
Payables: | ||
Deferred foreign capital gain tax | 243,737 | — |
Investment advisory fees | 82,930 | 693,807 |
Professional fees | 6,392 | — |
Total liabilities | 502,444 | 4,474,255 |
Commitments and contingent liabilities | ||
NET ASSETS | $658,037,544 | $1,727,131,142 |
NET ASSETS CONSIST OF | ||
Paid-in capital | $622,322,958 | $2,816,798,277 |
Accumulated earnings (loss) | 35,714,586 | (1,089,667,135) |
NET ASSETS | $658,037,544 | $1,727,131,142 |
NET ASSET VALUE | ||
Shares outstanding | 9,800,000 | 60,750,000 |
Net asset value | $67.15 | $28.43 |
Shares authorized | Unlimited | Unlimited |
Par value | None | None |
(a) Investments, at cost—unaffiliated | $582,048,369 | $1,657,537,730 |
(b) Securities loaned, at value | $124,917 | $3,714,295 |
(c) Investments, at cost—affiliated | $360,805 | $14,791,021 |
(d) Foreign currency collateral pledged, at cost | $31,035 | $608,670 |
(e) Foreign currency, at cost | $1,346,693 | $6,575,337 |
iShares Asia 50 ETF | iShares Blockchain and Tech ETF | iShares Emerging Markets Infrastructure ETF | iShares Europe ETF | |
INVESTMENT INCOME | ||||
Dividends—unaffiliated | $43,224,479 | $36,337 | $835,671 | $60,366,920 |
Dividends—affiliated | 65,900 | 538 | 4,614 | 148,218 |
Interest—unaffiliated | — | 287 | — | 28,515 |
Securities lending income—affiliated—net | 36,660 | 120,568 | 5,227 | 28,630 |
Other income—unaffiliated | — | — | — | 533,804 |
Foreign taxes withheld | (4,816,559 ) | (2,037 ) | (48,990 ) | (5,648,658 ) |
Foreign withholding tax claims | — | — | — | 1,628,939 |
IRS compliance fee for foreign withholding tax claims | — | — | — | 45,768 |
Other foreign taxes | (236 ) | — | — | — |
Total investment income | 38,510,244 | 155,693 | 796,522 | 57,132,136 |
EXPENSES | ||||
Investment advisory | 7,520,851 | 53,804 | 130,505 | 10,065,910 |
Commitment costs | 16,859 | — | 238 | — |
Interest expense | 9,291 | — | 53 | — |
Professional | — | — | — | 225,911 |
Total expenses | 7,547,001 | 53,804 | 130,796 | 10,291,821 |
Net investment income | 30,963,243 | 101,889 | 665,726 | 46,840,315 |
REALIZED AND UNREALIZED GAIN (LOSS) | ||||
Net realized gain (loss) from: | ||||
Investments—unaffiliated | (99,876,678 ) | 118,692 | (750,466 ) | (37,159,119 ) |
Investments—affiliated | 2,930 | (684 ) | 69 | 2,283 |
Foreign currency transactions | (263,125 ) | (1,073 ) | 1,027 | 34,882 |
Futures contracts | 17,937 | 2,827 | 20,246 | 241,147 |
In-kind redemptions—unaffiliated(a) | (5,257,777 ) | — | 317,373 | 76,153,796 |
(105,376,713 ) | 119,762 | (411,751 ) | 39,272,989 | |
Net change in unrealized appreciation (depreciation) on: | ||||
Investments—unaffiliated | 80,165,890 | 8,314,830 | 792,194 | 132,416,995 |
Investments—affiliated | 582 | 418 | (262 ) | (2,943 ) |
Foreign currency translations | (4,710 ) | (155 ) | (613 ) | (38,139 ) |
Futures contracts | (197,967 ) | (750 ) | (1,918 ) | (68,899 ) |
79,963,795 | 8,314,343 | 789,401 | 132,307,014 | |
Net realized and unrealized gain (loss) | (25,412,918 ) | 8,434,105 | 377,650 | 171,580,003 |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $5,550,325 | $8,535,994 | $1,043,376 | $218,420,318 |
(a) See Note 2 of the Notes to Financial Statements. |
iShares Future Metaverse Tech and Communications ETF | iShares India 50 ETF | iShares International Developed Property ETF | iShares International Developed Small Cap Value Factor ETF | |
INVESTMENT INCOME | ||||
Dividends—unaffiliated | $33,940 | $9,317,515 | $1,723,304 | $6,812,929 |
Dividends—affiliated | 129 | 697,325 | 1,110 | 5,521 |
Interest—unaffiliated | 224 | 33,788 | 920 | 1,401 |
Securities lending income—affiliated—net | 446 | — | 11,183 | 33,321 |
Foreign taxes withheld | (1,261 ) | (2,202,966 ) | (161,278 ) | (690,353 ) |
Foreign withholding tax claims | — | — | — | 23,783 |
Total investment income | 33,478 | 7,845,662 | 1,575,239 | 6,186,602 |
EXPENSES | ||||
Investment advisory | 28,040 | 6,124,758 | 189,609 | 533,815 |
Commitment costs | 6 | 6,978 | — | — |
Professional | — | — | — | 7,240 |
Interest expense | — | 129 | 34 | 286 |
Total expenses | 28,046 | 6,131,865 | 189,643 | 541,341 |
Less: | ||||
Investment advisory fees waived | — | — | — | (39,797 ) |
Total expenses after fees waived | 28,046 | 6,131,865 | 189,643 | 501,544 |
Net investment income | 5,432 | 1,713,797 | 1,385,596 | 5,685,058 |
REALIZED AND UNREALIZED GAIN (LOSS) | ||||
Net realized gain (loss) from: | ||||
Investments—unaffiliated(a) | 422,394 | (4,246,637 ) | (1,496,449 ) | (8,535,270 ) |
Investments—affiliated | 80 | — | 109 | 506 |
Foreign currency transactions | 118 | (153,337 ) | (17,462 ) | (45,726 ) |
Futures contracts | — | 147,286 | 57,797 | 107,508 |
In-kind redemptions—unaffiliated(b) | 445,525 | — | (2,774,798 ) | — |
868,117 | (4,252,688 ) | (4,230,803 ) | (8,472,982 ) | |
Net change in unrealized appreciation (depreciation) on: | ||||
Investments—unaffiliated(c) | 395,397 | 141,244,118 | 5,782,038 | 28,514,689 |
Investments—affiliated | (31 ) | — | (61 ) | (289 ) |
Foreign currency translations | (87 ) | 596 | (2,461 ) | (7,467 ) |
Futures contracts | — | 19,686 | (4,834 ) | 8,927 |
395,279 | 141,264,400 | 5,774,682 | 28,515,860 | |
Net realized and unrealized gain | 1,263,396 | 137,011,712 | 1,543,879 | 20,042,878 |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $1,268,828 | $138,725,509 | $2,929,475 | $25,727,936 |
(a) Net of foreign capital gain tax and capital gain tax refund, if applicable of | $— | $(1,634,022 ) | $(838 ) | $— |
(b) See Note 2 of the Notes to Financial Statements. | ||||
(c) Net of reduction/increase in deferred foreign capital gain tax of | $— | $(19,192,176 ) | $562 | $— |
iShares International Dividend Growth ETF | iShares Latin America 40 ETF | |
INVESTMENT INCOME | ||
Dividends—unaffiliated | $20,959,276 | $101,909,161 |
Dividends—affiliated | 47,012 | 153,385 |
Interest—unaffiliated | 14,621 | 107,537 |
Securities lending income—affiliated—net | 19,106 | 34,231 |
Foreign taxes withheld | (2,280,733 ) | (7,280,093 ) |
Foreign withholding tax claims | 64,399 | — |
Other foreign taxes | (321 ) | — |
Total investment income | 18,823,360 | 94,924,221 |
EXPENSES | ||
Investment advisory | 930,399 | 6,922,690 |
Interest expense | 11,013 | 287 |
Professional | 6,445 | — |
Commitment costs | 2,968 | 14,592 |
Total expenses | 950,825 | 6,937,569 |
Net investment income | 17,872,535 | 87,986,652 |
REALIZED AND UNREALIZED GAIN (LOSS) | ||
Net realized gain (loss) from: | ||
Investments—unaffiliated(a) | (2,535,339 ) | (31,876,497 ) |
Investments—affiliated | (154 ) | (4,148 ) |
Forward foreign currency exchange contracts | — | (7,509 ) |
Foreign currency transactions | (157,057 ) | 28,765 |
Futures contracts | 306,311 | 1,176,451 |
In-kind redemptions—unaffiliated(b) | 7,920,969 | 35,655,092 |
5,534,730 | 4,972,154 | |
Net change in unrealized appreciation (depreciation) on: | ||
Investments—unaffiliated(c) | 59,124,441 | 185,003,230 |
Investments—affiliated | 408 | 4,601 |
Foreign currency translations | (16,899 ) | (72,141 ) |
Futures contracts | (116,230 ) | 151,267 |
58,991,720 | 185,086,957 | |
Net realized and unrealized gain | 64,526,450 | 190,059,111 |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $82,398,985 | $278,045,763 |
(a) Net of foreign capital gain tax and capital gain tax refund, if applicable of | $(66,594 ) | $— |
(b) See Note 2 of the Notes to Financial Statements. | ||
(c) Net of increase in deferred foreign capital gain tax of | $(223,385 ) | $— |
iShares Asia 50 ETF | iShares Blockchain and Tech ETF | |||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/24 | Period From 04/25/22(a) to 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $30,963,243 | $29,780,218 | $101,889 | $81,409 |
Net realized gain (loss) | (105,376,713 ) | (55,023,332 ) | 119,762 | (3,175,291 ) |
Net change in unrealized appreciation (depreciation) | 79,963,795 | (146,764,220 ) | 8,314,343 | 672,269 |
Net increase (decrease) in net assets resulting from operations | 5,550,325 | (172,007,334 ) | 8,535,994 | (2,421,613 ) |
DISTRIBUTIONS TO SHAREHOLDERS(b) | ||||
Decrease in net assets resulting from distributions to shareholders | (38,351,614 ) | (36,273,723 ) | (259,294 ) | (32,972 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | (161,119,817 ) | (1,319,572 ) | 8,814,903 | 8,983,970 |
NET ASSETS | ||||
Total increase (decrease) in net assets | (193,921,106 ) | (209,600,629 ) | 17,091,603 | 6,529,385 |
Beginning of period | 1,675,524,553 | 1,885,125,182 | 6,529,385 | — |
End of period | $1,481,603,447 | $1,675,524,553 | $23,620,988 | $6,529,385 |
(a) | Commencement of operations. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Emerging Markets Infrastructure ETF | iShares Europe ETF | |||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/24 | Year Ended 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $665,726 | $583,929 | $46,840,315 | $54,487,262 |
Net realized gain (loss) | (411,751 ) | (1,736,393 ) | 39,272,989 | 46,082,397 |
Net change in unrealized appreciation (depreciation) | 789,401 | 590,798 | 132,307,014 | (60,291,024 ) |
Net increase (decrease) in net assets resulting from operations | 1,043,376 | (561,666 ) | 218,420,318 | 40,278,635 |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (577,244 ) | (641,405 ) | (51,798,895 ) | (50,928,655 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | (1,072,183 ) | 3,220,760 | (303,570,869 ) | (100,395,818 ) |
NET ASSETS | ||||
Total increase (decrease) in net assets | (606,051 ) | 2,017,689 | (136,949,446 ) | (111,045,838 ) |
Beginning of year | 22,612,884 | 20,595,195 | 1,832,933,395 | 1,943,979,233 |
End of year | $22,006,833 | $22,612,884 | $1,695,983,949 | $1,832,933,395 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Future Metaverse Tech and Communications ETF | iShares India 50 ETF | |||
Year Ended 03/31/24 | Period From 02/14/23(a) to 03/31/23 | Year Ended 03/31/24 | Year Ended(b) 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $5,432 | $5,190 | $1,713,797 | $1,492,220 |
Net realized gain (loss) | 868,117 | 6,848 | (4,252,688 ) | 335,736,820 |
Net change in unrealized appreciation (depreciation) | 395,279 | 234,104 | 141,264,400 | (390,329,239 ) |
Net increase (decrease) in net assets resulting from operations | 1,268,828 | 246,142 | 138,725,509 | (53,100,199 ) |
DISTRIBUTIONS TO SHAREHOLDERS(c) | ||||
Decrease in net assets resulting from distributions to shareholders | (18,538 ) | — | (2,801,756 ) | (21,001,621 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | (14,332 ) | 5,104,279 | 154,597,664 | (12,354,375 ) |
NET ASSETS | ||||
Total increase (decrease) in net assets | 1,235,958 | 5,350,421 | 290,521,417 | (86,456,195 ) |
Beginning of period | 5,350,421 | — | 576,771,960 | 663,228,155 |
End of period | $6,586,379 | $5,350,421 | $867,293,377 | $576,771,960 |
(a) | Commencement of operations. |
(b) | Consolidated Statement of Changes in Net Assets. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares International Developed Property ETF | iShares International Developed Small Cap Value Factor ETF | |||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/24 | Year Ended 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $1,385,596 | $1,780,905 | $5,685,058 | $5,283,505 |
Net realized loss | (4,230,803 ) | (2,795,992 ) | (8,472,982 ) | (2,515,952 ) |
Net change in unrealized appreciation (depreciation) | 5,774,682 | (12,829,576 ) | 28,515,860 | (9,746,404 ) |
Net increase (decrease) in net assets resulting from operations | 2,929,475 | (13,844,663 ) | 25,727,936 | (6,978,851 ) |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (1,162,641 ) | (977,169 ) | (6,703,298 ) | (4,915,147 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | (7,788,239 ) | (5,900,739 ) | 6,476,894 | 5,713,393 |
NET ASSETS | ||||
Total increase (decrease) in net assets | (6,021,405 ) | (20,722,571 ) | 25,501,532 | (6,180,605 ) |
Beginning of year | 43,123,401 | 63,845,972 | 158,000,766 | 164,181,371 |
End of year | $37,101,996 | $43,123,401 | $183,502,298 | $158,000,766 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares International Dividend Growth ETF | iShares Latin America 40 ETF | |||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/24 | Year Ended 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $17,872,535 | $12,584,318 | $87,986,652 | $123,073,780 |
Net realized gain (loss) | 5,534,730 | (27,477,959 ) | 4,972,154 | (207,932,460 ) |
Net change in unrealized appreciation (depreciation) | 58,991,720 | 10,980,300 | 185,086,957 | (181,861,919 ) |
Net increase (decrease) in net assets resulting from operations | 82,398,985 | (3,913,341 ) | 278,045,763 | (266,720,599 ) |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (18,517,342 ) | (11,034,484 ) | (72,678,562 ) | (138,313,795 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | (1,263,770 ) | 288,496,363 | 518,630,934 | (330,022,276 ) |
NET ASSETS | ||||
Total increase (decrease) in net assets | 62,617,873 | 273,548,538 | 723,998,135 | (735,056,670 ) |
Beginning of year | 595,419,671 | 321,871,133 | 1,003,133,007 | 1,738,189,677 |
End of year | $658,037,544 | $595,419,671 | $1,727,131,142 | $1,003,133,007 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares Asia 50 ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $61.83 | $68.67 | $90.91 | $56.05 | $61.05 |
Net investment income(a) | 1.20 | 1.17 | 0.93 | 1.31 | 1.42 |
Net realized and unrealized gain (loss)(b) | (0.16 ) | (6.54 ) | (21.99 ) | 34.52 | (4.94 ) |
Net increase (decrease) from investment operations | 1.04 | (5.37 ) | (21.06 ) | 35.83 | (3.52 ) |
Distributions from net investment income(c) | (1.52 ) | (1.47 ) | (1.18 ) | (0.97 ) | (1.48 ) |
Net asset value, end of year | $61.35 (d) | $61.83 | $68.67 | $90.91 | $56.05 |
Total Return(e) | |||||
Based on net asset value | 1.87 %(d) | (7.77 )% | (23.36 )% | 64.22 % | (6.00 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.50 % | 0.50 % | 0.50 % | 0.50 % | 0.50 % |
Net investment income | 2.06 % | 1.95 % | 1.12 % | 1.66 % | 2.32 % |
Supplemental Data | |||||
Net assets, end of year (000) | $1,481,603 | $1,675,525 | $1,885,125 | $3,172,670 | $1,059,289 |
Portfolio turnover rate(g) | 11 % | 12 % | 13 % | 46 % | 6 % |
(a) Based on average shares outstanding. | |||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(d) For financial reporting purposes, the market values of certain investments were adjusted as of the report date. Accordingly, the NAV per share and total return presented herein is different than the information previously published as of March 28, 2024. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Blockchain and Tech ETF | ||
Year Ended 03/31/24 | Period From 04/25/22(a) to 03/31/23 | |
Net asset value, beginning of period | $16.32 | $25.56 |
Net investment income(b) | 0.20 | 0.22 |
Net realized and unrealized gain(c) | 15.49 | (9.38 ) |
Net increase from investment operations | 15.69 | (9.16 ) |
Distributions from net investment income(d) | (0.52 ) | (0.08 ) |
Net asset value, end of period | $31.49 | $16.32 |
Total Return(e) | ||
Based on net asset value | 97.46 % | (35.71 )%(f) |
Ratios to Average Net Assets(g) | ||
Total expenses | 0.47 % | 0.47 %(h) |
Net investment income | 0.89 % | 1.56 %(h) |
Supplemental Data | ||
Net assets, end of period (000) | $23,621 | $6,529 |
Portfolio turnover rate(i) | 81 % | 87 % |
(a) Commencement of operations. | ||
(b) Based on average shares outstanding. | ||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | ||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | ||
(e) Where applicable, assumes the reinvestment of distributions. | ||
(f) Not annualized. | ||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | ||
(h) Annualized. | ||
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Emerging Markets Infrastructure ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $21.54 | $22.88 | $24.74 | $19.80 | $28.64 |
Net investment income(a) | 0.65 | 0.57 | 0.95 | 0.65 | 0.75 |
Net realized and unrealized gain (loss)(b) | 0.39 | (1.27 ) | (1.84 ) | 4.91 | (8.94 ) |
Net increase (decrease) from investment operations | 1.04 | (0.70 ) | (0.89 ) | 5.56 | (8.19 ) |
Distributions from net investment income(c) | (0.57 ) | (0.64 ) | (0.97 ) | (0.62 ) | (0.65 ) |
Net asset value, end of year | $22.01 | $21.54 | $22.88 | $24.74 | $19.80 |
Total Return(d) | |||||
Based on net asset value | 4.95 % | (3.11 )% | (3.83 )% | 28.33 % | (29.33 )% |
Ratios to Average Net Assets(e) | |||||
Total expenses | 0.60 % | 0.60 % | 0.60 % | 0.60 % | 0.75 % |
Net investment income | 3.06 % | 2.70 % | 3.96 % | 2.90 % | 2.60 % |
Supplemental Data | |||||
Net assets, end of year (000) | $22,007 | $22,613 | $20,595 | $16,083 | $12,870 |
Portfolio turnover rate(f) | 15 % | 26 % | 23 % | 27 % | 18 % |
(a) Based on average shares outstanding. | |||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(d) Where applicable, assumes the reinvestment of distributions. | |||||
(e) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(f) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Europe ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $50.08 | $50.17 | $50.25 | $35.42 | $43.40 |
Net investment income(a) | 1.40 (b) | 1.45 (b) | 1.24 (b) | 0.85 | 1.24 |
Net realized and unrealized gain (loss)(c) | 5.59 | (0.15 ) | 0.21 | 14.82 | (7.78 ) |
Net increase (decrease) from investment operations | 6.99 | 1.30 | 1.45 | 15.67 | (6.54 ) |
Distributions from net investment income(d) | (1.46 ) | (1.39 ) | (1.53 ) | (0.84 ) | (1.44 ) |
Net asset value, end of year | $55.61 | $50.08 | $50.17 | $50.25 | $35.42 |
Total Return(e) | |||||
Based on net asset value | 14.32 %(b) | 2.87 %(b) | 2.69 %(b) | 44.70 % | (15.61 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.61 % | 0.67 % | 0.63 % | 0.60 % | 0.59 % |
Total expenses excluding professional fees for foreign withholding tax claims | 0.59 % | 0.59 % | 0.58 % | 0.59 % | 0.59 % |
Net investment income | 2.75 %(b) | 3.21 %(b) | 2.34 %(b) | 1.94 % | 2.84 % |
Supplemental Data | |||||
Net assets, end of year (000) | $1,695,984 | $1,832,933 | $1,943,979 | $1,665,944 | $1,252,107 |
Portfolio turnover rate(g) | 5 % | 5 % | 5 % | 5 % | 5 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31, 2024, March 31, 2023 and March 31, 2022 respectively: • Net investment income per share by $0.04, $0.27 and $0.18. • Total return by 0.10%, 0.56% and 0.36%. • Ratio of net investment income to average net assets by 0.08%, 0.60% and 0.34%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Future Metaverse Tech and Communications ETF | ||
Year Ended 03/31/24 | Period From 02/14/23(a) to 03/31/23 | |
Net asset value, beginning of period | $26.75 | $25.52 |
Net investment income(b) | 0.03 | 0.03 |
Net realized and unrealized gain(c) | 6.24 | 1.20 |
Net increase from investment operations | 6.27 | 1.23 |
Distributions from net investment income(d) | (0.09 ) | — |
Net asset value, end of period | $32.93 | $26.75 |
Total Return(e) | ||
Based on net asset value | 23.48 % | 4.82 %(f) |
Ratios to Average Net Assets(g) | ||
Total expenses | 0.47 % | 0.47 %(h) |
Net investment income | 0.09 % | 0.84 %(h) |
Supplemental Data | ||
Net assets, end of period (000) | $6,586 | $5,350 |
Portfolio turnover rate(i) | 51 % | 7 % |
(a) Commencement of operations. | ||
(b) Based on average shares outstanding. | ||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | ||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | ||
(e) Where applicable, assumes the reinvestment of distributions. | ||
(f) Not annualized. | ||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | ||
(h) Annualized. | ||
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares India 50 ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23(a) | Year Ended 03/31/22(a) | Year Ended 03/31/21(a) | Year Ended 03/31/20(a) | |
Net asset value, beginning of year | $41.20 | $46.38 | $44.60 | $25.87 | $37.92 |
Net investment income(b) | 0.11 | 0.11 | 0.05 | 0.02 | 0.19 |
Net realized and unrealized gain (loss)(c) | 9.30 | (3.70 ) | 5.10 | 18.74 | (12.01 ) |
Net increase (decrease) from investment operations | 9.41 | (3.59 ) | 5.15 | 18.76 | (11.82 ) |
Distributions(d) | |||||
From net investment income | (0.07 ) | — | (3.37 ) | (0.03 ) | (0.23 ) |
From net realized gain | (0.12 ) | (1.59 ) | — | — | — |
Total distributions | (0.19 ) | (1.59 ) | (3.37 ) | (0.03 ) | (0.23 ) |
Net asset value, end of year | $50.42 | $41.20 | $46.38 | $44.60 | $25.87 |
Total Return(e) | |||||
Based on net asset value | 22.90 % | (7.92 )% | 11.57 % | 72.59 % | (31.41 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.89 % | 0.93 %(g) | 0.89 % | 0.90 % | 0.93 % |
Net investment income | 0.25 % | 0.25 % | 0.10 % | 0.06 % | 0.51 % |
Supplemental Data | |||||
Net assets, end of year (000) | $867,293 | $576,772 | $663,228 | $691,284 | $483,841 |
Portfolio turnover rate(h) | 10 % | 108 % | 12 % | 8 % | 26 % |
(a) Consolidated Financial Highlights. | |||||
(b) Based on average shares outstanding. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Includes non-recurring expense of Interest expense. Without this cost, total expenses would have been 0.89%. | |||||
(h) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares International Developed Property ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $26.95 | $35.47 | $36.25 | $27.97 | $38.79 |
Net investment income(a) | 0.94 | 1.03 (b) | 1.06 (b) | 0.94 | 1.14 |
Net realized and unrealized gain (loss)(c) | 1.44 | (8.99 ) | (0.35 ) | 8.19 | (9.31 ) |
Net increase (decrease) from investment operations | 2.38 | (7.96 ) | 0.71 | 9.13 | (8.17 ) |
Distributions from net investment income(d) | (0.79 ) | (0.56 ) | (1.49 ) | (0.85 ) | (2.65 ) |
Net asset value, end of year | $28.54 | $26.95 | $35.47 | $36.25 | $27.97 |
Total Return(e) | |||||
Based on net asset value | 9.05 % | (22.49 )%(b) | 1.79 %(b) | 32.96 % | (22.52 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.48 % | 0.48 % | 0.49 % | 0.48 % | 0.48 % |
Total expenses excluding professional fees for foreign withholding tax claims | N/A | 0.48 % | 0.48 % | N/A | N/A |
Net investment income | 3.51 % | 3.55 %(b) | 2.82 %(b) | 2.92 % | 3.01 % |
Supplemental Data | |||||
Net assets, end of year (000) | $37,102 | $43,123 | $63,846 | $83,385 | $78,329 |
Portfolio turnover rate(g) | 6 % | 6 % | 12 % | 16 % | 8 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the years ended March 31, 2023 and March 31, 2022, respectively: • Net investment income per share by $0.01 and $0.04. • Total return by 0.04% and 0.12%. • Ratio of net investment income to average net assets by 0.04% and 0.09%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares International Developed Small Cap Value Factor ETF | ||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Period From 03/23/21(a) to 03/31/21 | |
Net asset value, beginning of period | $31.60 | $34.20 | $34.37 | $34.52 |
Net investment income(b) | 1.11 | 1.09 | 1.59 | 0.16 |
Net realized and unrealized gain (loss)(c) | 3.88 | (2.68 ) | (0.74 ) | (0.31 ) |
Net increase (decrease) from investment operations | 4.99 | (1.59 ) | 0.85 | (0.15 ) |
Distributions from net investment income(d) | (1.30 ) | (1.01 ) | (1.02 ) | — |
Net asset value, end of period | $35.29 | $31.60 | $34.20 | $34.37 |
Total Return(e) | ||||
Based on net asset value | 16.26 %(f) | (4.56 )% | 2.42 % | (0.43 )%(g) |
Ratios to Average Net Assets(h) | ||||
Total expenses | 0.33 % | 0.40 % | 0.40 % | 0.40 %(i) |
Total expenses after fees waived | 0.30 % | 0.30 % | 0.30 % | 0.30 %(i) |
Total expenses excluding professional fees for foreign withholding tax claims | 0.32 % | N/A | N/A | N/A |
Net investment income | 3.45 %(f) | 3.59 % | 4.55 % | 17.96 %(i) |
Supplemental Data | ||||
Net assets, end of period (000) | $183,502 | $158,001 | $164,181 | $6,875 |
Portfolio turnover rate(j) | 77 % | 18 % | 35 % | 0 % |
(a) Commencement of operations. | ||||
(b) Based on average shares outstanding. | ||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | ||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | ||||
(e) Where applicable, assumes the reinvestment of distributions. | ||||
(f) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended March 31, 2024: • Total return by 0.01%. • Ratio of net investment income to average net assets by 0.01%. | ||||
(g) Not annualized. | ||||
(h) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | ||||
(i) Annualized. | ||||
(j) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares International Dividend Growth ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $60.45 | $65.02 | $64.36 | $45.51 | $53.81 |
Net investment income(a) | 1.80 (b) | 1.67 | 1.74 | 1.53 | 1.56 |
Net realized and unrealized gain (loss)(c) | 6.76 | (4.77 ) | 0.39 | 18.87 | (8.24 ) |
Net increase (decrease) from investment operations | 8.56 | (3.10 ) | 2.13 | 20.40 | (6.68 ) |
Distributions from net investment income(d) | (1.86 ) | (1.47 ) | (1.47 ) | (1.55 ) | (1.62 ) |
Net asset value, end of year | $67.15 | $60.45 | $65.02 | $64.36 | $45.51 |
Total Return(e) | |||||
Based on net asset value | 14.46 %(b) | (4.60 )% | 3.28 % | 45.29 % | (12.75 )% |
Ratios to Average Net Assets(f) | |||||
Total expenses | 0.15 % | 0.15 % | 0.15 % | 0.19 % | 0.22 % |
Net investment income | 2.88 %(b) | 2.89 % | 2.60 % | 2.66 % | 2.81 % |
Supplemental Data | |||||
Net assets, end of year (000) | $658,038 | $595,420 | $321,871 | $189,855 | $79,644 |
Portfolio turnover rate(g) | 38 % | 37 % | 40 % | 66 % | 35 % |
(a) Based on average shares outstanding. | |||||
(b) Reflects the positive effect of foreign withholding tax claims, net of the associated professional fees, which resulted in the following increases for the year ended March 31, 2024: • Net investment income per share by $0.01. • Total return by 0.01%. • Ratio of net investment income to average net assets by 0.01%. | |||||
(c) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(d) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(e) Where applicable, assumes the reinvestment of distributions. | |||||
(f) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(g) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares Latin America 40 ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $23.88 | $30.36 | $27.56 | $18.34 | $33.24 |
Net investment income(a) | 1.63 | 2.69 | 1.70 | 0.68 | 0.98 |
Net realized and unrealized gain (loss)(b) | 4.26 | (6.26 ) | 3.09 | 9.09 | (14.83 ) |
Net increase (decrease) from investment operations | 5.89 | (3.57 ) | 4.79 | 9.77 | (13.85 ) |
Distributions from net investment income(c) | (1.34 ) | (2.91 ) | (1.99 ) | (0.55 ) | (1.05 ) |
Net asset value, end of year | $28.43 | $23.88 | $30.36 | $27.56 | $18.34 |
Total Return(d) | |||||
Based on net asset value | 24.91 % | (11.29 )% | 19.25 % | 53.62 % | (43.05 )% |
Ratios to Average Net Assets(e) | |||||
Total expenses | 0.48 % | 0.48 % | 0.47 % | 0.48 % | 0.48 % |
Net investment income | 6.07 % | 10.76 % | 6.07 % | 2.78 % | 3.08 % |
Supplemental Data | |||||
Net assets, end of year (000) | $1,727,131 | $1,003,133 | $1,738,190 | $1,770,590 | $797,877 |
Portfolio turnover rate(f) | 7 % | 24 % | 27 % | 20 % | 22 % |
(a) Based on average shares outstanding. | |||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(d) Where applicable, assumes the reinvestment of distributions. | |||||
(e) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(f) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares ETF | Diversification Classification |
Asia 50 | Non-diversified |
Blockchain and Tech | Non-diversified |
Emerging Markets Infrastructure | Non-diversified |
Europe | Diversified |
Future Metaverse Tech and Communications | Non-diversified |
India 50 | Non-diversified |
International Developed Property | Diversified |
International Developed Small Cap Value Factor | Diversified(a) |
International Dividend Growth | Diversified |
Latin America 40 | Non-diversified |
(a) | The Fund's classification changed from non-diversified to diversified during the reporting period. |
iShares ETF and Counterparty | Securities Loaned at Value | Cash Collateral Received(a) | Non-Cash Collateral Received, at Fair Value(a) | Net Amount |
Asia 50 | ||||
HSBC Bank PLC | $2,979,009 | $(2,979,009) | $— | $— |
Blockchain and Tech | ||||
BNP Paribas SA | $315,769 | $(315,769) | $— | $— |
BofA Securities, Inc. | 293,270 | (284,314) | — | 8,956(b) |
HSBC Bank PLC | 284 | (284) | — | — |
J.P. Morgan Securities LLC | 537,195 | (537,195) | — | — |
Jefferies LLC | 440,433 | (420,561) | — | 19,872(b) |
UBS AG | 1,220,046 | (1,220,046) | — | — |
Wells Fargo Securities LLC | 66,240 | (61,500) | — | 4,740(b) |
$2,873,237 | $(2,839,669) | $— | $33,568 | |
Emerging Markets Infrastructure | ||||
Barclays Bank PLC | $199,920 | $(199,920) | $— | $— |
Barclays Capital, Inc. | 128,282 | (128,282) | — | — |
J.P. Morgan Securities LLC | 134,946 | (134,946) | — | — |
Morgan Stanley | 925,791 | (925,791) | — | — |
UBS AG | 181,594 | (181,594) | — | — |
Wells Fargo Securities LLC | 27,489 | (27,489) | — | — |
$1,598,022 | $(1,598,022) | $— | $— |
iShares ETF and Counterparty | Securities Loaned at Value | Cash Collateral Received(a) | Non-Cash Collateral Received, at Fair Value(a) | Net Amount |
Europe | ||||
Barclays Capital, Inc. | $365,573 | $(365,573) | $— | $— |
BofA Securities, Inc. | 1,963,391 | (1,963,391) | — | — |
Goldman Sachs & Co. LLC | 397,837 | (397,837) | — | — |
J.P. Morgan Securities LLC | 1,392,701 | (1,392,701) | — | — |
$4,119,502 | $(4,119,502) | $— | $— | |
Future Metaverse Tech and Communications | ||||
Barclays Bank PLC | $88,244 | $(88,244) | $— | $— |
HSBC Bank PLC | 131,694 | (131,694) | — | — |
J.P. Morgan Securities LLC | 25,582 | (25,582) | — | — |
Wells Fargo Bank N.A. | 186,768 | (186,768) | — | — |
$432,288 | $(432,288) | $— | $— | |
International Developed Property | ||||
BofA Securities, Inc. | $270,914 | $(270,914) | $— | $— |
Goldman Sachs & Co. LLC | 112,970 | (112,970) | — | — |
HSBC Bank PLC | 24,308 | (24,308) | — | — |
J.P. Morgan Securities LLC | 20,130 | (20,130) | — | — |
Macquarie Bank Ltd. | 24,702 | (24,702) | — | — |
Morgan Stanley | 150,645 | (150,645) | — | — |
SG Americas Securities LLC | 93,687 | (93,687) | — | — |
UBS AG | — | — | — | — |
$697,356 | $(697,356) | $— | $— | |
International Developed Small Cap Value Factor | ||||
Barclays Capital, Inc. | $29,345 | $(29,345) | $— | $— |
BNP Paribas SA | 374,083 | (374,083) | — | — |
BofA Securities, Inc. | 1,560,902 | (1,560,902) | — | — |
Goldman Sachs & Co. LLC | 143,967 | (143,967) | — | — |
HSBC Bank PLC | 27,713 | (27,713) | — | — |
J.P. Morgan Securities LLC | 564,297 | (564,297) | — | — |
Nomura Securities International, Inc. | 131,668 | (131,668) | — | — |
$2,831,975 | $(2,831,975) | $— | $— | |
International Dividend Growth | ||||
HSBC Bank PLC | $124,917 | $(124,917) | $— | $— |
Latin America 40 | ||||
J.P. Morgan Securities LLC | $3,655,390 | $(3,655,390) | $— | $— |
UBS Securities LLC | 58,905 | (58,905) | — | — |
$3,714,295 | $(3,714,295) | $— | $— |
(a) | Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund’s Statements of Assets and Liabilities. |
(b) | The market value of the loaned securities is determined as of March 31, 2024. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by a counterparty. |
iShares ETF | Investment Advisory Fees |
Asia 50 | 0.50% |
Blockchain and Tech | 0.47 |
Emerging Markets Infrastructure | 0.60 |
Future Metaverse Tech and Communications | 0.47 |
India 50 | 0.89 |
International Developed Property | 0.48 |
International Developed Small Cap Value Factor | 0.30 |
International Dividend Growth | 0.15 |
Aggregate Average Daily Net Assets | Investment Advisory Fees |
First $12 billion | 0.6000% |
Over $12 billion, up to and including $18 billion | 0.5700 |
Over $18 billion, up to and including $24 billion | 0.5415 |
Over $24 billion, up to and including $30 billion | 0.5145 |
Over $30 billion | 0.4888 |
Aggregate Average Daily Net Assets | Investment Advisory Fees |
First $46 billion | 0.5000% |
Over $46 billion, up to and including $81 billion | 0.4750 |
Over $81 billion, up to and including $111 billion | 0.4513 |
Over $111 billion, up to and including $141 billion | 0.4287 |
Over $141 billion, up to and including $171 billion | 0.4073 |
Over $171 billion | 0.3869 |
iShares ETF | Amounts Waived |
International Developed Small Cap Value Factor | $39,797 |
iShares ETF | Amounts |
Asia 50 | $10,327 |
Blockchain and Tech | 29,738 |
Emerging Markets Infrastructure | 1,380 |
Europe | 7,482 |
Future Metaverse Tech and Communications | 157 |
International Developed Property | 2,591 |
International Developed Small Cap Value Factor | 7,762 |
International Dividend Growth | 4,485 |
Latin America 40 | 10,254 |
iShares ETF | Purchases | Sales | Net Realized Gain (Loss) |
Asia 50 | $13,355,498 | $28,813,768 | $(20,035,238) |
Blockchain and Tech | 658,652 | 1,332,119 | 79,973 |
Emerging Markets Infrastructure | 54,303 | 186,860 | (11,162) |
Europe | 19,365,355 | 3,557,183 | (2,061,745) |
International Developed Property | 80,903 | 114,258 | (92,695) |
International Developed Small Cap Value Factor | 609,529 | 3,466,042 | (450,634) |
International Dividend Growth | 39,020,944 | 13,100,131 | (387,552) |
Latin America 40 | 1,311,077 | 286,416 | (82,876) |
iShares ETF | Purchases | Sales |
Asia 50 | $164,686,416 | $244,676,267 |
Blockchain and Tech | 9,492,605 | 9,543,700 |
Emerging Markets Infrastructure | 3,306,358 | 3,373,165 |
Europe | 91,401,567 | 82,178,240 |
Future Metaverse Tech and Communications | 3,118,116 | 3,051,332 |
India 50 | 198,470,761 | 68,939,447 |
International Developed Property | 2,234,403 | 2,361,460 |
International Developed Small Cap Value Factor | 125,820,819 | 126,709,071 |
International Dividend Growth | 234,878,961 | 233,282,615 |
Latin America 40 | 283,104,408 | 100,195,734 |
iShares ETF | In-kind Purchases | In-kind Sales |
Asia 50 | $1,099,203 | $89,366,635 |
Blockchain and Tech | 8,691,625 | — |
Emerging Markets Infrastructure | — | 914,351 |
Europe | — | 317,460,388 |
Future Metaverse Tech and Communications | 1,518,027 | 1,608,808 |
International Developed Property | — | 7,432,511 |
International Developed Small Cap Value Factor | 6,356,206 | — |
International Dividend Growth | 43,112,939 | 46,720,780 |
Latin America 40 | 552,269,698 | 216,086,320 |
iShares ETF | Paid-in Capital | Accumulated Earnings (Loss) |
Asia 50 | $(20,306,073) | $20,306,073 |
Emerging Markets Infrastructure | 269,062 | (269,062) |
Europe | 74,661,440 | (74,661,440) |
Future Metaverse Tech and Communications | 484,142 | (484,142) |
India 50 | (11,828,050) | 11,828,050 |
International Developed Property | (3,400,886) | 3,400,886 |
International Dividend Growth | 7,806,543 | (7,806,543) |
Latin America 40 | 29,344,395 | (29,344,395) |
iShares ETF | Year Ended 03/31/24 | Year Ended 03/31/23 |
Asia 50 | ||
Ordinary income | $38,351,614 | $36,273,723 |
iShares ETF | Year Ended 03/31/24 | Period Ended 03/31/23 |
Blockchain and Tech | ||
Ordinary income | $259,294 | $32,972 |
iShares ETF | Year Ended 03/31/24 | Year Ended 03/31/23 |
Emerging Markets Infrastructure | ||
Ordinary income | $577,244 | $641,405 |
Europe | ||
Ordinary income | $51,798,895 | $50,928,655 |
iShares ETF | Year Ended 03/31/24 | Period Ended 03/31/23 |
Future Metaverse Tech and Communications | ||
Ordinary income | $18,538 | $— |
iShares ETF | Year Ended 03/31/24 | Year Ended 03/31/23 |
India 50 | ||
Long-term capital gains | $2,801,756 | $21,001,621 |
International Developed Property | ||
Ordinary income | $1,162,641 | $977,169 |
International Developed Small Cap Value Factor | ||
Ordinary income | $6,703,298 | $4,915,147 |
International Dividend Growth | ||
Ordinary income | $18,517,342 | $11,034,484 |
Latin America 40 | ||
Ordinary income | $72,678,562 | $138,313,795 |
iShares ETF | Undistributed Ordinary Income | Undistributed Long-Term Capital Gains | Non-expiring Capital Loss Carryforwards(a) | Net Unrealized Gains (Losses)(b) | Qualified Late-Year Capital Losses(c) | Qualified Late-Year Ordinary Losses(c) | Total |
Asia 50 | $3,707,058 | $— | $(185,619,438) | $10,009,495 | $— | $ — | $(171,902,885) |
Blockchain and Tech | 311,427 | — | (3,031,623) | 8,542,311 | — | — | 5,822,115 |
Emerging Markets Infrastructure | 110,107 | — | (34,972,670) | 1,038,449 | — | — | (33,824,114) |
Europe | 14,464,763 | — | (413,745,446) | 60,502,365 | — | — | (338,778,318) |
Future Metaverse Tech and Communications | 350,349 | 33,226 | — | 628,715 | — | — | 1,012,290 |
India 50 | — | — | — | 424,879,280 | (383,141) | (1,230,810) | 423,265,329 |
International Developed Property | 217,705 | — | (32,542,759) | (17,399,985) | — | — | (49,725,039) |
International Developed Small Cap Value Factor | 2,484,750 | — | (12,062,929) | 16,315,669 | — | — | 6,737,490 |
International Dividend Growth | 1,850,413 | — | (35,103,132) | 68,967,305 | — | — | 35,714,586 |
Latin America 40 | 15,847,251 | — | (1,064,815,730) | (40,698,656) | — | — | (1,089,667,135) |
(a) | Amounts available to offset future realized capital gains. |
(b) | The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales, the timing and recognition of realized gains / losses for tax purposes, the realization for tax purposes of unrealized gains (losses) on certain foreign currency and futures contracts, timing and recognition of partnership income, characterization of corporate actions and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies. |
(c) | The Funds have elected to defer these qualified late-year losses and recognize such losses in the next taxable year. |
iShares ETF | Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) |
Asia 50 | $1,468,898,555 | $444,066,758 | $(433,991,975) | $10,074,783 |
Blockchain and Tech | 17,923,626 | 9,129,301 | (586,839) | 8,542,462 |
Emerging Markets Infrastructure | 22,587,136 | 5,317,010 | (4,278,203) | 1,038,807 |
Europe | 1,634,853,833 | 364,263,215 | (303,699,682) | 60,563,533 |
Future Metaverse Tech and Communications | 6,396,325 | 981,581 | (352,800) | 628,781 |
India 50 | 435,139,806 | 447,156,278 | (521,440) | 446,634,838 |
International Developed Property | 54,919,499 | 1,859,272 | (19,254,307) | (17,395,035) |
International Developed Small Cap Value Factor | 168,661,054 | 24,152,222 | (7,835,402) | 16,316,820 |
International Dividend Growth | 584,721,789 | 99,985,676 | (30,774,505) | 69,211,171 |
Latin America 40 | 1,759,528,160 | 199,066,368 | (239,760,287) | (40,693,919) |
iShares ETF | Maximum Amount Borrowed | Average Borrowing | Weighted Average Interest Rates |
International Dividend Growth | $7,400,000 | $156,762 | 6.32% |
Year Ended 03/31/24 | Year Ended 03/31/23 | |||
iShares ETF | Shares | Amount | Shares | Amount |
Asia 50 | ||||
Shares sold | 400,000 | $25,427,942 | 4,250,000 | $268,352,378 |
Shares redeemed | (3,350,000 ) | (186,547,759 ) | (4,600,000 ) | (269,671,950 ) |
(2,950,000 ) | $(161,119,817 ) | (350,000 ) | $(1,319,572 ) |
Year Ended 03/31/24 | Period Ended 03/31/23 | |||
iShares ETF | Shares | Amount | Shares | Amount |
Blockchain and Tech(a) | ||||
Shares sold | 350,000 | $8,814,903 | 400,000 | $8,983,970 |
Year Ended 03/31/24 | Year Ended 03/31/23 | |||
iShares ETF | Shares | Amount | Shares | Amount |
Emerging Markets Infrastructure | ||||
Shares sold | — | $780 | 200,000 | $4,326,610 |
Shares redeemed | (50,000 ) | (1,072,963 ) | (50,000 ) | (1,105,850 ) |
(50,000 ) | $(1,072,183 ) | 150,000 | $3,220,760 | |
Europe | ||||
Shares sold | 500,000 | $24,586,557 | 5,600,000 | $267,045,938 |
Shares redeemed | (6,600,000 ) | (328,157,426 ) | (7,750,000 ) | (367,441,756 ) |
(6,100,000 ) | $(303,570,869 ) | (2,150,000 ) | $(100,395,818 ) |
Year Ended 03/31/24 | Period Ended 03/31/23 | |||
iShares ETF | Shares | Amount | Shares | Amount |
Future Metaverse Tech and Communications(b) | ||||
Shares sold | 50,000 | $1,603,382 | 200,000 | $5,104,279 |
Shares redeemed | (50,000 ) | (1,617,714 ) | — | — |
— | $(14,332 ) | 200,000 | $5,104,279 |
Year Ended 03/31/24 | Year Ended 03/31/23 | |||
iShares ETF | Shares | Amount | Shares | Amount |
India 50 | ||||
Shares sold | 3,550,000 | $169,379,144 | 750,000 | $32,231,430 |
Shares redeemed | (350,000 ) | (14,781,480 ) | (1,050,000 ) | (44,585,805 ) |
3,200,000 | $154,597,664 | (300,000 ) | $(12,354,375 ) | |
International Developed Property | ||||
Shares sold | — | $146 | — | $21 |
Shares redeemed | (300,000 ) | (7,788,385 ) | (200,000 ) | (5,900,760 ) |
(300,000 ) | $(7,788,239 ) | (200,000 ) | $(5,900,739 ) | |
International Developed Small Cap Value Factor | ||||
Shares sold | 200,000 | $6,476,894 | 200,000 | $5,713,393 |
International Dividend Growth | ||||
Shares sold | 800,000 | $50,444,647 | 4,900,000 | $288,496,363 |
Shares redeemed | (850,000 ) | (51,708,417 ) | — | — |
(50,000 ) | $(1,263,770 ) | 4,900,000 | $288,496,363 | |
Latin America 40 | ||||
Shares sold | 29,250,000 | $798,802,712 | 13,500,000 | $362,330,132 |
Shares redeemed | (10,500,000 ) | (280,171,778 ) | (28,750,000 ) | (692,352,408 ) |
18,750,000 | $518,630,934 | (15,250,000 ) | $(330,022,276 ) |
(a) | The Fund commenced operations on April 25, 2022. |
(b) | The Fund commenced operations on February 14, 2023. |
iShares Trust and Shareholders of each of the ten funds listed in the table below
iShares Asia 50 ETF(1) |
iShares Blockchain and Tech ETF(2) |
iShares Emerging Markets Infrastructure ETF(1) |
iShares Europe ETF(1) |
iShares Future Metaverse Tech and Communications ETF(3) |
iShares India 50 ETF(4) |
iShares International Developed Property ETF(1) |
iShares International Developed Small Cap Value Factor ETF(1) |
iShares International Dividend Growth ETF(1) |
iShares Latin America 40 ETF(1) |
(2) Statement of operations for the year ended March 31, 2024, and statement of changes in net assets and the financial highlights for the year ended March 31, 2024 and the period April 25, 2022 (commencement of operations) to March 31, 2023.
(3) Statement of operations for the year ended March 31, 2024, and statement of changes in net assets and the financial highlights for the year ended March 31, 2024 and the period February 14, 2023 (commencement of operations) to March 31, 2023.
(4) Statement of operations for the year ended March 31, 2024, statement of changes in net assets for the year ended March 31, 2024, consolidated statement of changes in net assets for the year ended March 31, 2023, the financial highlights for the year ended March 31, 2024 and the consolidated financial highlights for each of the four years in the period ended March 31, 2023.
Philadelphia, Pennsylvania
May 23, 2024
iShares ETF | Qualified Dividend Income |
Asia 50 | $16,118,369 |
Blockchain and Tech | 35,617 |
Emerging Markets Infrastructure | 483,778 |
Europe | 59,867,101 |
Future Metaverse Tech and Communications | 25,353 |
India 50 | 8,674,654 |
International Developed Property | 835,971 |
International Developed Small Cap Value Factor | 5,363,423 |
International Dividend Growth | 20,093,862 |
Latin America 40 | 86,898,120 |
iShares ETF | Foreign Source Income Earned | Foreign Taxes Paid |
Asia 50 | $43,202,674 | $4,785,589 |
Emerging Markets Infrastructure | 835,235 | 44,099 |
Europe | 60,366,918 | 3,638,678 |
India 50 | 9,317,632 | 3,834,713 |
International Developed Property | 1,723,302 | 158,979 |
International Developed Small Cap Value Factor | 6,804,127 | 634,596 |
International Dividend Growth | 20,959,276 | 2,253,362 |
Latin America 40 | 100,907,575 | 6,930,369 |
iShares ETF | Dividends-Received Deduction |
Blockchain and Tech | 3.84 % |
Future Metaverse Tech and Communications | 3.51 % |
Latin America 40 | 1.05 % |
iShares ETF | 20% Rate Long-Term Capital Gain Dividends |
Future Metaverse Tech and Communications | $10,072 |
India 50 | 2,801,756 |
Total Cumulative Distributions for the Fiscal Year | % Breakdown of the Total Cumulative Distributions for the Fiscal Year | |||||||
iShares ETF | Net Investment Income | Net Realized Capital Gains | Return of Capital | Total Per Share | Net Investment Income | Net Realized Capital Gains | Return of Capital | Total Per Share |
Blockchain and Tech(a) | $0.358351 | $— | $0.165539 | $0.523890 | 68% | —% | 32% | 100% |
Emerging Markets Infrastructure | 0.566007 | — | — | 0.566007 | 100 | — | — | 100 |
Europe(a) | 1.449010 | — | 0.013346 | 1.462356 | 99 | — | 1 | 100 |
Future Metaverse Tech and Communications(a) | 0.061266 | — | 0.031424 | 0.092690 | 66 | — | 34 | 100 |
India 50(a) | 0.052047 | 0.115943 | 0.021553 | 0.189543 | 28 | 61 | 11 | 100 |
International Developed Property | 0.785252 | — | — | 0.785252 | 100 | — | — | 100 |
International Developed Small Cap Value Factor(a) | 1.224068 | — | 0.077954 | 1.302022 | 94 | — | 6 | 100 |
Latin America 40 | 1.339003 | — | — | 1.339003 | 100 | — | — | 100 |
(a) | The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder's investment in the Fund is returned to the shareholder. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. When distributions exceed total return performance, the difference will incrementally reduce the Fund’s net asset value per share. |
Interested Trustees | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
Robert S. Kapito(a) (1957) | Trustee (since 2009). | President of BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). |
Stephen Cohen(b) (1975) | Trustee (since 2024). | Senior Managing Director, Head of Global Product Solutions of BlackRock, Inc. (since 2024); Senior Managing Director, Head of Europe, Middle East and Africa Regions of BlackRock, Inc. (2021-2024); Head of iShares Index and Wealth in EMEA of BlackRock, Inc. (2017-2021); Global Head of Fixed Income Indexing of BlackRock, Inc. (2016-2017); Chief Investment Strategist for International Fixed Income and iShares of BlackRock, Inc. (2011-2015). | Director of iShares, Inc. (since 2024); Trustee of iShares U.S. ETF Trust (since 2024). |
(a) Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. | |||
(b) Stephen Cohen is deemed to be an "interested person" (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Independent Trustees | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
John E. Kerrigan (1955) | Trustee (since 2005); Independent Board Chair (since 2022). | Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2022). |
Jane D. Carlin (1956) | Trustee (since 2015); Risk Committee Chair (since 2016). | Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016), Chair of the Audit Committee (since 2020) and Director of The Hanover Insurance Group, Inc. (since 2016). |
Richard L. Fagnani (1954) | Trustee (since 2017); Audit Committee Chair (since 2019). | Partner, KPMG LLP (2002-2016); Director of One Generation Away (since 2021). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). |
Independent Trustees (continued) | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
Cecilia H. Herbert (1949) | Trustee (since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2022). | Chair of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York’s public media company (since 2011) and Member of the Audit Committee (since 2018), Investment Committee (since 2011) and Personnel Committee (since 2022); Member of the Wyoming State Investment Funds Committee (since 2022); Director of the Jackson Hole Center for the Arts (since 2021); Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios) (2015-2018). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). |
Drew E. Lawton (1959) | Trustee (since 2017); 15(c) Committee Chair (since 2017). | Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017); Director of Jackson Financial Inc. (since 2021). |
John E. Martinez (1961) | Trustee (since 2003); Securities Lending Committee Chair (since 2019). | Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (2017-2020); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). |
Madhav V. Rajan (1964) | Trustee (since 2011); Fixed-Income Plus Committee Chair (since 2019). | Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Advisory Board Member (since 2016) and Director (since 2020) of C.M. Capital Corporation; Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). | Director of iShares, Inc. (since 2011); Trustee of iShares U.S. ETF Trust (since 2011). |
Officers | ||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years |
Jessica Tan (1980) | President (since 2024). | Managing Director of BlackRock, Inc. (since 2015); Head of Global Product Solutions, Americas of BlackRock, Inc. (since 2024) and Head of Sustainable and Transition Solutions of BlackRock, Inc. (2022-2024); Global Head of Corporate Strategy of BlackRock, Inc. (2019-2022); Chief of Staff to the CEO of BlackRock, Inc. (2017-2019). |
Trent Walker (1974) | Treasurer and Chief Financial Officer (since 2020). | Managing Director of BlackRock, Inc. (since 2019); Chief Financial Officer of iShares Delaware Trust Sponsor LLC, BlackRock Funds, BlackRock Funds II, BlackRock Funds IV, BlackRock Funds V and BlackRock Funds VI (since 2021). |
Aaron Wasserman (1974) | Chief Compliance Officer (iShares, Inc. and iShares Trust, since 2023; iShares U.S. ETF Trust, since 2023). | Managing Director of BlackRock, Inc. (since 2018); Chief Compliance Officer of the BlackRock Multi-Asset Complex, the BlackRock Fixed-Income Complex and the Exchange-Traded Fund Complex (since 2023); Deputy Chief Compliance Officer for the BlackRock Multi-Asset Complex, the BlackRock Fixed-Income Complex and the Exchange-Traded Fund Complex (2014-2023). |
Marisa Rolland (1980) | Secretary (since 2022). | Managing Director of BlackRock, Inc. (since 2023); Director of BlackRock, Inc. (2018-2022). |
Rachel Aguirre (1982) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2018); Head of U.S. iShares Product (since 2022); Head of EII U.S. Product Engineering of BlackRock, Inc. (since 2021); Co-Head of EII’s Americas Portfolio Engineering of BlackRock, Inc. (2020-2021); Head of Developed Markets Portfolio Engineering of BlackRock, Inc. (2016-2019). |
Jennifer Hsui (1976) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2009); Co-Head of Index Equity of BlackRock, Inc. (since 2022). |
Officers (continued) | ||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years |
James Mauro (1970) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2010); Head of Fixed Income Index Investments in the Americas and Head of San Francisco Core Portfolio Management of BlackRock, Inc. (since 2020). |
Effective July 1, 2023, Aaron Wasserman replaced Charles Park as Chief Compliance Officer. |
Effective February 1, 2024, Salim Ramji resigned as Trustee of the Trust. |
Effective March 5, 2024, Stephen Cohen replaced Salim Ramji as Trustee of the Trust. |
Effective March 5, 2024, Dominik Rohé resigned as President of the Trust. |
Effective March 5, 2024, Jessica Tan replaced Dominik Rohé as President of the Trust. |
Effective April 8, 2024, Laura Fergerson was appointed as Trustee of the Trust. |
Effective April 8, 2024, James Lam was appointed as Trustee of the Trust. |
• If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor.
Portfolio Abbreviation | |
ADR | American Depositary Receipt |
NVDR | Non-Voting Depositary Receipt |
NVS | Non-Voting Shares |
PJSC | Public Joint Stock Company |
REIT | Real Estate Investment Trust |
President, BlackRock Inc.
Total Returns as of March 31, 2024 | ||
6-Month | 12-Month | |
U.S. large cap equities (S&P 500® Index) | 23.48% | 29.88% |
U.S. small cap equities (Russell 2000® Index) | 19.94 | 19.71 |
International equities (MSCI Europe, Australasia, Far East Index) | 16.81 | 15.32 |
Emerging market equities (MSCI Emerging Markets Index) | 10.42 | 8.15 |
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index) | 2.68 | 5.24 |
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) | 4.88 | (2.44) |
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index) | 5.99 | 1.70 |
Tax-exempt municipal bonds (Bloomberg Municipal Bond Index) | 7.48 | 3.13 |
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index) | 8.73 | 11.15 |
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
Average Annual Total Returns | Cumulative Total Returns | ||||||
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 22.72 % | 7.06 % | 6.20 % | 22.72 % | 40.63 % | 82.51 % | |
Fund Market | 22.82 | 7.02 | 6.32 | 22.82 | 40.39 | 84.51 | |
Index | 23.63 | 7.33 | 6.54 | 23.63 | 42.44 | 88.37 |
(AT NET ASSET VALUE)
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Beginning Account Value (10/01/23) | Ending Account Value (03/31/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,190.60 | $2.63 | $1,000.00 | $1,022.60 | $2.43 | 0.48% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Sector | Percent of Total Investments(a) |
Industrials | 24.5 % |
Information Technology | 15.0 |
Consumer Discretionary | 13.9 |
Financials | 12.4 |
Health Care | 8.4 |
Communication Services | 8.1 |
Consumer Staples | 6.5 |
Materials | 5.9 |
Real Estate | 2.9 |
Utilities | 1.2 |
Energy | 1.2 |
Security | Percent of Total Investments(a) |
Tokyo Electron Ltd. | 2.4 % |
Toyota Motor Corp. | 2.1 |
Mitsubishi Corp. | 2.0 |
Hitachi Ltd. | 1.9 |
Shin-Etsu Chemical Co. Ltd. | 1.9 |
Recruit Holdings Co. Ltd. | 1.8 |
Mitsubishi UFJ Financial Group Inc. | 1.8 |
Mitsui & Co. Ltd. | 1.8 |
Sumitomo Mitsui Financial Group Inc. | 1.7 |
Tokio Marine Holdings Inc. | 1.6 |
(a) | Excludes money market funds. |
Security | Shares | Value |
Common Stocks | ||
Air Freight & Logistics — 0.4% | ||
AZ-COM MARUWA Holdings Inc. | 800 | $7,164 |
Mitsui-Soko Holdings Co. Ltd. | 800 | 24,718 |
Nippon Express Holdings Inc. | 1,600 | 81,672 |
Sankyu Inc. | 800 | 27,534 |
SBS Holdings Inc. | 800 | 13,673 |
Senko Group Holdings Co. Ltd. | 2,400 | 17,982 |
SG Holdings Co. Ltd. | 8,000 | 101,312 |
Yamato Holdings Co. Ltd. | 6,400 | 92,112 |
366,167 | ||
Automobile Components — 2.6% | ||
Aisin Corp. | 4,000 | 163,451 |
Bridgestone Corp. | 13,600 | 602,748 |
Denso Corp. | 39,400 | 754,576 |
Koito Manufacturing Co. Ltd. | 4,800 | 64,702 |
KYB Corp. | 700 | 23,754 |
Nifco Inc./Japan | 1,600 | 40,259 |
Niterra Co. Ltd. | 4,000 | 132,799 |
Sumitomo Electric Industries Ltd. | 18,400 | 285,114 |
Sumitomo Rubber Industries Ltd. | 4,800 | 59,174 |
Toyo Tire Corp. | 2,400 | 45,352 |
Toyoda Gosei Co. Ltd. | 1,600 | 35,289 |
Toyota Boshoku Corp. | 2,400 | 40,898 |
Yokohama Rubber Co. Ltd. (The) | 2,400 | 64,734 |
2,312,850 | ||
Automobiles — 5.1% | ||
Honda Motor Co. Ltd. | 112,000 | 1,385,853 |
Isuzu Motors Ltd. | 13,600 | 183,837 |
Mazda Motor Corp. | 16,000 | 185,433 |
Subaru Corp. | 15,200 | 344,247 |
Suzuki Motor Corp. | 35,200 | 401,888 |
Toyota Motor Corp. | 73,620 | 1,860,742 |
Yamaha Motor Co. Ltd. | 21,600 | 198,970 |
4,560,970 | ||
Banks — 6.2% | ||
Chiba Bank Ltd. (The) | 13,600 | 113,168 |
Concordia Financial Group Ltd. | 25,600 | 128,671 |
Fukuoka Financial Group Inc. | 4,000 | 106,781 |
Mebuki Financial Group Inc. | 23,200 | 76,227 |
Mitsubishi UFJ Financial Group Inc. | 155,200 | 1,579,020 |
Mizuho Financial Group Inc. | 64,050 | 1,266,608 |
Resona Holdings Inc. | 55,200 | 340,278 |
Seven Bank Ltd. | 15,200 | 29,478 |
Sumitomo Mitsui Financial Group Inc. | 26,400 | 1,543,679 |
Sumitomo Mitsui Trust Holdings Inc. | 17,608 | 379,392 |
5,563,302 | ||
Beverages — 0.9% | ||
Asahi Group Holdings Ltd. | 11,200 | 411,262 |
Kirin Holdings Co. Ltd. | 20,000 | 278,126 |
Suntory Beverage & Food Ltd. | 3,200 | 108,240 |
Takara Holdings Inc. | 3,200 | 23,051 |
820,679 | ||
Biotechnology — 0.0% | ||
PeptiDream Inc.(a) | 2,400 | 22,531 |
Takara Bio Inc. | 1,600 | 10,313 |
32,844 | ||
Broadline Retail — 0.5% | ||
ASKUL Corp. | 800 | 11,649 |
Izumi Co. Ltd. | 800 | 18,352 |
Pan Pacific International Holdings Corp. | 10,400 | 275,618 |
Security | Shares | Value |
Broadline Retail (continued) | ||
Ryohin Keikaku Co. Ltd. | 5,600 | $91,645 |
Seria Co. Ltd. | 1,600 | 31,629 |
428,893 | ||
Building Products — 1.3% | ||
AGC Inc. | 4,000 | 145,129 |
Daikin Industries Ltd. | 6,000 | 819,244 |
Nichias Corp. | 800 | 21,376 |
Sanwa Holdings Corp. | 4,800 | 83,926 |
TOTO Ltd. | 3,200 | 89,712 |
1,159,387 | ||
Capital Markets — 1.5% | ||
Daiwa Securities Group Inc. | 36,800 | 279,987 |
JAFCO Group Co. Ltd.(a) | 1,600 | 19,786 |
Japan Exchange Group Inc. | 12,000 | 325,026 |
Monex Group Inc. | 4,800 | 28,591 |
Nomura Holdings Inc. | 80,000 | 512,041 |
SBI Holdings Inc. | 7,200 | 188,857 |
1,354,288 | ||
Chemicals — 4.5% | ||
ADEKA Corp. | 1,600 | 33,783 |
Aica Kogyo Co. Ltd. | 1,600 | 39,145 |
Air Water Inc. | 4,800 | 75,103 |
Asahi Kasei Corp. | 29,600 | 217,065 |
Daicel Corp. | 6,400 | 63,177 |
Denka Co. Ltd. | 1,600 | 24,947 |
Fujimi Inc. | 800 | 18,356 |
Fuso Chemical Co. Ltd. | 800 | 24,423 |
Kansai Paint Co. Ltd. | 4,800 | 68,751 |
KH Neochem Co. Ltd. | 800 | 12,115 |
Kuraray Co. Ltd. | 7,200 | 77,122 |
Mitsubishi Chemical Group Corp. | 35,200 | 214,518 |
Mitsubishi Gas Chemical Co. Inc. | 4,000 | 67,099 |
Mitsui Chemicals Inc. | 4,000 | 117,344 |
Nippon Paint Holdings Co. Ltd. | 25,600 | 184,248 |
Nippon Sanso Holdings Corp. | 4,800 | 150,603 |
Nissan Chemical Corp. | 2,400 | 90,903 |
Nitto Denko Corp. | 3,200 | 292,614 |
NOF Corp. | 4,800 | 65,737 |
Shin-Etsu Chemical Co. Ltd. | 38,400 | 1,684,297 |
Sumitomo Bakelite Co. Ltd. | 1,600 | 48,216 |
Sumitomo Chemical Co. Ltd. | 35,200 | 76,268 |
Taiyo Holdings Co. Ltd. | 800 | 17,627 |
Tokuyama Corp. | 1,600 | 28,018 |
Tokyo Ohka Kogyo Co. Ltd. | 2,400 | 72,793 |
Toray Industries Inc. | 32,000 | 153,660 |
Tosoh Corp. | 6,400 | 86,968 |
Zeon Corp. | 3,200 | 27,874 |
4,032,774 | ||
Commercial Services & Supplies — 0.5% | ||
Aeon Delight Co. Ltd. | 800 | 18,574 |
Japan Elevator Service Holdings Co. Ltd. | 1,600 | 26,126 |
Pilot Corp. | 800 | 20,791 |
Secom Co. Ltd. | 4,800 | 348,254 |
Sohgo Security Services Co. Ltd. | 8,000 | 43,438 |
457,183 | ||
Construction & Engineering — 1.1% | ||
COMSYS Holdings Corp. | 2,400 | 56,243 |
EXEO Group Inc. | 4,800 | 51,006 |
Hazama Ando Corp. | 4,000 | 31,151 |
INFRONEER Holdings Inc. | 5,600 | 53,747 |
Kajima Corp. | 10,400 | 213,457 |
Security | Shares | Value |
Construction & Engineering (continued) | ||
Kandenko Co. Ltd. | 2,400 | $27,397 |
Kyudenko Corp. | 800 | 33,188 |
MIRAIT ONE corp. | 2,400 | 29,584 |
Obayashi Corp. | 16,800 | 199,759 |
Shimizu Corp. | 13,600 | 87,825 |
SHO-BOND Holdings Co. Ltd. | 800 | 33,631 |
Taisei Corp. | 4,000 | 145,796 |
962,784 | ||
Consumer Finance — 0.1% | ||
Acom Co. Ltd. | 8,000 | 21,298 |
AEON Financial Service Co. Ltd. | 2,400 | 21,881 |
Jaccs Co. Ltd. | 800 | 29,062 |
Orient Corp. | 1,100 | 7,781 |
80,022 | ||
Consumer Staples Distribution & Retail — 1.6% | ||
Cosmos Pharmaceutical Corp. | 800 | 75,862 |
Create SD Holdings Co. Ltd. | 800 | 17,423 |
Kobe Bussan Co. Ltd. | 4,000 | 98,013 |
Kusuri no Aoki Holdings Co. Ltd. | 1,600 | 32,978 |
Lawson Inc. | 800 | 54,655 |
Life Corp. | 800 | 20,523 |
MatsukiyoCocokara & Co. | 9,600 | 154,146 |
Seven & i Holdings Co. Ltd. | 52,800 | 769,607 |
Sugi Holdings Co. Ltd. | 2,400 | 40,986 |
Sundrug Co. Ltd. | 1,600 | 49,672 |
Tsuruha Holdings Inc. | 800 | 57,087 |
Welcia Holdings Co. Ltd. | 2,400 | 40,810 |
Yaoko Co. Ltd. | 800 | 48,104 |
1,459,866 | ||
Containers & Packaging — 0.0% | ||
Rengo Co. Ltd. | 4,000 | 30,492 |
Distributors — 0.0% | ||
PALTAC Corp. | 800 | 21,270 |
Diversified Telecommunication Services — 1.3% | ||
Internet Initiative Japan Inc. | 2,400 | 44,814 |
Nippon Telegraph & Telephone Corp. | 911,200 | 1,085,332 |
U-Next Holdings Co. Ltd. | 800 | 27,412 |
1,157,558 | ||
Electric Utilities — 0.5% | ||
Chubu Electric Power Co. Inc. | 17,600 | 230,140 |
Kansai Electric Power Co. Inc. (The) | 18,400 | 262,546 |
492,686 | ||
Electrical Equipment — 1.7% | ||
Fuji Electric Co. Ltd. | 3,200 | 214,734 |
Mitsubishi Electric Corp. | 54,400 | 910,599 |
Nidec Corp. | 10,400 | 431,280 |
1,556,613 | ||
Electronic Equipment, Instruments & Components — 4.5% | ||
Anritsu Corp. | 3,200 | 25,902 |
Azbil Corp. | 3,200 | 88,531 |
Canon Marketing Japan Inc. | 800 | 23,570 |
Daiwabo Holdings Co. Ltd. | 2,400 | 40,179 |
Dexerials Corp. | 1,600 | 69,744 |
Hamamatsu Photonics KK | 4,000 | 141,025 |
Hirose Electric Co. Ltd. | 800 | 82,208 |
Horiba Ltd. | 800 | 83,112 |
Ibiden Co. Ltd. | 2,400 | 107,488 |
Kaga Electronics Co. Ltd. | 800 | 34,014 |
Keyence Corp. | 2,544 | 1,181,080 |
Security | Shares | Value |
Electronic Equipment, Instruments & Components (continued) | ||
Kyocera Corp. | 30,400 | $407,697 |
Macnica Holdings Inc. | 800 | 39,215 |
Murata Manufacturing Co. Ltd. | 44,000 | 822,906 |
Omron Corp. | 4,000 | 143,228 |
Shimadzu Corp. | 6,400 | 178,266 |
Taiyo Yuden Co. Ltd. | 2,400 | 56,819 |
TDK Corp. | 8,000 | 392,864 |
Yokogawa Electric Corp. | 5,600 | 128,964 |
4,046,812 | ||
Entertainment — 2.3% | ||
Capcom Co. Ltd. | 9,600 | 179,847 |
GungHo Online Entertainment Inc. | 1,690 | 27,047 |
Koei Tecmo Holdings Co. Ltd. | 3,280 | 34,955 |
Konami Group Corp. | 1,600 | 108,990 |
Nexon Co. Ltd. | 11,200 | 186,161 |
Nintendo Co. Ltd. | 25,600 | 1,396,854 |
Square Enix Holdings Co. Ltd. | 2,400 | 92,558 |
Toho Co. Ltd. | 2,400 | 79,693 |
2,106,105 | ||
Financial Services — 1.1% | ||
Fuyo General Lease Co. Ltd. | 800 | 71,172 |
GMO Payment Gateway Inc. | 800 | 51,813 |
Mitsubishi HC Capital Inc. | 20,800 | 145,072 |
Mizuho Leasing Co. Ltd. | 4,000 | 29,484 |
ORIX Corp. | 28,800 | 629,906 |
Tokyo Century Corp. | 3,200 | 33,327 |
Zenkoku Hosho Co. Ltd. | 800 | 28,659 |
989,433 | ||
Food Products — 1.6% | ||
Ajinomoto Co. Inc. | 11,200 | 418,248 |
Calbee Inc. | 2,400 | 54,094 |
Kikkoman Corp. | 16,000 | 205,352 |
MEIJI Holdings Co. Ltd. | 5,600 | 122,263 |
Morinaga & Co. Ltd. | 1,600 | 27,464 |
Morinaga Milk Industry Co. Ltd. | 1,600 | 32,733 |
NH Foods Ltd. | 1,600 | 53,574 |
Nichirei Corp. | 2,400 | 64,550 |
Nissin Foods Holdings Co. Ltd. | 4,800 | 132,327 |
Nissui Corp. | 6,400 | 40,127 |
Toyo Suisan Kaisha Ltd. | 2,400 | 146,750 |
Yakult Honsha Co. Ltd. | 6,400 | 130,806 |
1,428,288 | ||
Gas Utilities — 0.6% | ||
Nippon Gas Co. Ltd. | 2,400 | 40,421 |
Osaka Gas Co. Ltd. | 9,600 | 215,962 |
Tokyo Gas Co. Ltd. | 10,400 | 236,421 |
492,804 | ||
Health Care Equipment & Supplies — 2.8% | ||
Asahi Intecc Co. Ltd. | 5,600 | 98,111 |
Hoya Corp. | 9,600 | 1,200,680 |
Jeol Ltd. | 800 | 33,141 |
Nakanishi Inc. | 800 | 12,554 |
Nihon Kohden Corp. | 2,400 | 63,728 |
Olympus Corp. | 29,600 | 426,190 |
Sysmex Corp. | 12,000 | 214,139 |
Terumo Corp. | 27,200 | 497,723 |
2,546,266 | ||
Health Care Providers & Services — 0.2% | ||
Alfresa Holdings Corp. | 4,800 | 69,752 |
BML Inc. | 800 | 15,413 |
Security | Shares | Value |
Health Care Providers & Services (continued) | ||
H.U. Group Holdings Inc. | 1,600 | $26,056 |
Medipal Holdings Corp. | 5,600 | 85,700 |
Ship Healthcare Holdings Inc. | 1,600 | 22,101 |
219,022 | ||
Health Care Technology — 0.2% | ||
M3 Inc. | 9,600 | 138,157 |
Hotels, Restaurants & Leisure — 0.3% | ||
Food & Life Companies Ltd. | 2,400 | 46,060 |
McDonald's Holdings Co. Japan Ltd. | 3,200 | 143,895 |
Zensho Holdings Co. Ltd. | 2,400 | 99,804 |
289,759 | ||
Household Durables — 2.8% | ||
Haseko Corp. | 4,000 | 49,498 |
Iida Group Holdings Co. Ltd. | 4,800 | 62,119 |
Open House Group Co. Ltd. | 1,600 | 51,749 |
Panasonic Holdings Corp. | 57,600 | 549,721 |
Pressance Corp. | 800 | 9,363 |
Rinnai Corp. | 2,400 | 55,090 |
Sekisui Chemical Co. Ltd. | 9,600 | 140,454 |
Sekisui House Ltd. | 14,400 | 327,998 |
Sony Group Corp. | 13,400 | 1,149,060 |
Sumitomo Forestry Co. Ltd. | 4,000 | 129,846 |
2,524,898 | ||
Household Products — 0.5% | ||
Lion Corp. | 6,400 | 57,214 |
Pigeon Corp. | 3,200 | 30,832 |
Unicharm Corp. | 10,400 | 331,097 |
419,143 | ||
Independent Power and Renewable Electricity Producers — 0.1% | ||
Electric Power Development Co. Ltd. | 4,000 | 65,668 |
eRex Co. Ltd.(a)(b) | 800 | 3,653 |
RENOVA Inc.(a) | 1,600 | 13,145 |
West Holdings Corp. | 800 | 15,172 |
97,638 | ||
Industrial Conglomerates — 2.0% | ||
Hikari Tsushin Inc. | 600 | 112,843 |
Hitachi Ltd. | 18,900 | 1,727,090 |
1,839,933 | ||
Insurance — 3.4% | ||
Dai-ichi Life Holdings Inc. | 23,200 | 591,705 |
MS&AD Insurance Group Holdings Inc. | 31,200 | 550,915 |
Sompo Holdings Inc. | 21,600 | 452,737 |
Tokio Marine Holdings Inc. | 46,400 | 1,454,466 |
3,049,823 | ||
Interactive Media & Services — 0.2% | ||
Kakaku.com Inc. | 3,200 | 38,820 |
LY Corp. | 68,800 | 174,268 |
213,088 | ||
IT Services — 2.9% | ||
BIPROGY Inc. | 1,600 | 47,552 |
Change Holdings Inc.(b) | 800 | 6,786 |
Digital Garage Inc. | 800 | 17,403 |
DTS Corp. | 800 | 20,912 |
Fujitsu Ltd. | 48,000 | 768,192 |
GMO internet group Inc. | 1,600 | 28,991 |
NEC Corp. | 6,400 | 467,234 |
NEC Networks & System Integration Corp. | 1,600 | 26,638 |
NET One Systems Co. Ltd. | 1,600 | 28,125 |
Nomura Research Institute Ltd. | 10,464 | 295,595 |
Security | Shares | Value |
IT Services (continued) | ||
NS Solutions Corp. | 800 | $26,105 |
NSD Co. Ltd. | 1,600 | 30,939 |
NTT Data Group Corp. | 12,800 | 203,494 |
Obic Co. Ltd. | 1,600 | 241,682 |
Otsuka Corp. | 4,800 | 101,848 |
SCSK Corp. | 3,200 | 59,481 |
SHIFT Inc.(a)(b) | 500 | 79,686 |
TIS Inc. | 5,600 | 120,153 |
2,570,816 | ||
Leisure Products — 0.8% | ||
Bandai Namco Holdings Inc. | 12,800 | 237,506 |
Sankyo Co. Ltd. | 8,000 | 87,390 |
Sega Sammy Holdings Inc. | 4,000 | 49,408 |
Shimano Inc. | 1,800 | 267,774 |
Yamaha Corp. | 3,200 | 69,071 |
711,149 | ||
Machinery — 6.3% | ||
Amada Co. Ltd. | 8,000 | 91,618 |
Daifuku Co. Ltd. | 8,000 | 191,755 |
DMG Mori Co. Ltd. | 3,200 | 84,596 |
Ebara Corp. | 1,600 | 145,617 |
FANUC Corp. | 23,200 | 647,198 |
Fuji Corp./Aichi | 2,400 | 42,425 |
Hitachi Construction Machinery Co. Ltd. | 1,600 | 48,274 |
Hoshizaki Corp. | 2,400 | 87,568 |
IHI Corp. | 3,200 | 85,542 |
Komatsu Ltd. | 22,400 | 662,833 |
Kubota Corp. | 25,600 | 401,657 |
Makita Corp. | 5,600 | 159,155 |
MINEBEA MITSUMI Inc. | 8,000 | 156,921 |
MISUMI Group Inc. | 8,000 | 111,448 |
Mitsubishi Heavy Industries Ltd. | 88,000 | 842,040 |
Miura Co. Ltd. | 1,600 | 31,008 |
Nabtesco Corp. | 3,200 | 53,646 |
NGK Insulators Ltd. | 5,600 | 75,300 |
Organo Corp. | 800 | 39,672 |
SMC Corp. | 1,600 | 902,656 |
Sumitomo Heavy Industries Ltd. | 3,200 | 100,765 |
Takeuchi Manufacturing Co. Ltd. | 800 | 32,069 |
Toyota Industries Corp. | 4,000 | 418,524 |
Yaskawa Electric Corp. | 5,600 | 238,418 |
5,650,705 | ||
Marine Transportation — 0.9% | ||
Kawasaki Kisen Kaisha Ltd. | 12,000 | 161,365 |
Mitsui OSK Lines Ltd. | 10,400 | 317,269 |
Nippon Yusen KK | 13,600 | 373,375 |
852,009 | ||
Media — 0.2% | ||
CyberAgent Inc. | 11,200 | 81,454 |
Hakuhodo DY Holdings Inc. | 6,400 | 57,687 |
Kadokawa Corp. | 2,400 | 42,169 |
181,310 | ||
Metals & Mining — 1.2% | ||
ARE Holdings Inc. | 1,600 | 20,325 |
Daiki Aluminium Industry Co. Ltd. | 800 | 6,486 |
Dowa Holdings Co. Ltd. | 1,100 | 38,013 |
JFE Holdings Inc. | 13,600 | 225,401 |
Maruichi Steel Tube Ltd. | 1,600 | 42,722 |
Mitsui Mining & Smelting Co. Ltd. | 1,600 | 49,037 |
Nippon Steel Corp. | 22,400 | 539,044 |
Sumitomo Metal Mining Co. Ltd. | 5,600 | 167,218 |
Security | Shares | Value |
Metals & Mining (continued) | ||
Tokyo Steel Manufacturing Co. Ltd. | 1,600 | $17,545 |
1,105,791 | ||
Oil, Gas & Consumable Fuels — 1.2% | ||
Cosmo Energy Holdings Co. Ltd. | 1,600 | 80,351 |
ENEOS Holdings Inc. | 76,000 | 366,157 |
Idemitsu Kosan Co. Ltd. | 28,000 | 191,972 |
Inpex Corp. | 24,000 | 364,828 |
Itochu Enex Co. Ltd. | 1,600 | 16,478 |
Iwatani Corp. | 800 | 43,146 |
1,062,932 | ||
Paper & Forest Products — 0.1% | ||
Oji Holdings Corp. | 20,000 | 83,028 |
Personal Care Products — 1.0% | ||
Kao Corp. | 11,200 | 418,524 |
Kobayashi Pharmaceutical Co. Ltd. | 1,600 | 51,918 |
Kose Corp. | 800 | 42,871 |
Rohto Pharmaceutical Co. Ltd. | 4,800 | 93,263 |
Shiseido Co. Ltd. | 10,400 | 285,381 |
891,957 | ||
Pharmaceuticals — 5.1% | ||
Astellas Pharma Inc. | 42,440 | 455,922 |
Chugai Pharmaceutical Co. Ltd. | 15,200 | 580,874 |
Daiichi Sankyo Co. Ltd. | 36,809 | 1,171,221 |
Eisai Co. Ltd. | 5,600 | 230,657 |
JCR Pharmaceuticals Co. Ltd. | 1,600 | 9,083 |
Kyowa Kirin Co. Ltd. | 5,600 | 100,750 |
Nippon Shinyaku Co. Ltd. | 800 | 23,754 |
Ono Pharmaceutical Co. Ltd. | 10,400 | 170,403 |
Otsuka Holdings Co. Ltd. | 10,400 | 431,998 |
Shionogi & Co. Ltd. | 6,400 | 327,051 |
Takeda Pharmaceutical Co. Ltd. | 37,600 | 1,045,802 |
4,547,515 | ||
Professional Services — 2.3% | ||
BayCurrent Consulting Inc. | 4,000 | 78,626 |
Bell System24 Holdings Inc. | 800 | 8,309 |
Benefit One Inc.(a)(b) | 1,600 | 22,893 |
Dip Corp. | 800 | 14,627 |
Fullcast Holdings Co. Ltd. | 800 | 7,651 |
MEITEC Group Holdings Inc. | 1,600 | 30,935 |
Nihon M&A Center Holdings Inc. | 8,000 | 50,929 |
Persol Holdings Co. Ltd. | 50,400 | 70,496 |
Recruit Holdings Co. Ltd. | 36,800 | 1,630,451 |
SMS Co. Ltd. | 1,600 | 27,517 |
TechnoPro Holdings Inc. | 3,200 | 64,090 |
Transcosmos Inc.(a) | 800 | 16,324 |
UT Group Co. Ltd. | 800 | 18,783 |
2,041,631 | ||
Real Estate Management & Development — 2.8% | ||
Daito Trust Construction Co. Ltd. | 1,600 | 182,532 |
Daiwa House Industry Co. Ltd. | 12,800 | 380,997 |
Hulic Co. Ltd. | 11,200 | 115,028 |
Katitas Co. Ltd. | 1,600 | 20,848 |
Mitsubishi Estate Co. Ltd. | 31,200 | 569,275 |
Mitsui Fudosan Co. Ltd. | 64,200 | 698,702 |
Nomura Real Estate Holdings Inc. | 2,400 | 67,803 |
Relo Group Inc. | 2,400 | 19,537 |
Starts Corp. Inc. | 800 | 16,645 |
Sumitomo Realty & Development Co. Ltd. | 7,200 | 275,719 |
Tokyo Tatemono Co. Ltd. | 4,800 | 81,078 |
Security | Shares | Value |
Real Estate Management & Development (continued) | ||
Tokyu Fudosan Holdings Corp. | 14,400 | $116,344 |
2,544,508 | ||
Semiconductors & Semiconductor Equipment — 6.3% | ||
Advantest Corp. | 13,600 | 604,151 |
Disco Corp. | 2,400 | 877,280 |
Ferrotec Holdings Corp. | 1,600 | 31,129 |
Japan Material Co. Ltd. | 1,600 | 25,573 |
Lasertec Corp. | 2,400 | 662,703 |
Renesas Electronics Corp. | 32,000 | 570,261 |
Rohm Co. Ltd. | 8,800 | 141,141 |
SCREEN Holdings Co. Ltd. | 1,600 | 207,448 |
Shinko Electric Industries Co. Ltd. | 1,600 | 59,723 |
SUMCO Corp. | 8,800 | 139,135 |
Tokyo Electron Ltd. | 8,300 | 2,161,727 |
Tokyo Seimitsu Co. Ltd. | 800 | 62,150 |
Ulvac Inc. | 1,600 | 102,949 |
5,645,370 | ||
Software — 0.3% | ||
Justsystems Corp. | 800 | 14,041 |
Oracle Corp./Japan | 800 | 60,161 |
Rakus Co. Ltd. | 2,400 | 32,561 |
Systena Corp. | 8,000 | 14,201 |
Trend Micro Inc./Japan | 2,400 | 121,888 |
242,852 | ||
Specialty Retail — 1.6% | ||
ABC-Mart Inc. | 2,400 | 45,494 |
Fast Retailing Co. Ltd. | 2,400 | 743,582 |
IDOM Inc. | 1,600 | 11,034 |
Kohnan Shoji Co. Ltd. | 800 | 23,073 |
Komeri Co. Ltd. | 800 | 18,241 |
K's Holdings Corp. | 3,200 | 27,519 |
Nextage Co. Ltd. | 1,600 | 30,299 |
Nitori Holdings Co. Ltd. | 1,600 | 242,483 |
Nojima Corp. | 1,600 | 17,847 |
Shimamura Co. Ltd. | 1,600 | 91,218 |
USS Co. Ltd. | 11,200 | 92,592 |
VT Holdings Co. Ltd. | 1,600 | 5,664 |
Workman Co. Ltd. | 800 | 21,064 |
ZOZO Inc. | 3,200 | 79,423 |
1,449,533 | ||
Technology Hardware, Storage & Peripherals — 1.0% | ||
Brother Industries Ltd. | 6,400 | 118,696 |
Elecom Co. Ltd. | 1,600 | 16,434 |
FUJIFILM Holdings Corp. | 26,400 | 592,802 |
MCJ Co. Ltd. | 1,600 | 14,179 |
Seiko Epson Corp. | 6,400 | 111,952 |
Wacom Co. Ltd. | 4,000 | 17,168 |
871,231 | ||
Textiles, Apparel & Luxury Goods — 0.1% | ||
Goldwin Inc. | 800 | 50,937 |
Tobacco — 0.9% | ||
Japan Tobacco Inc. | 29,600 | 789,193 |
Trading Companies & Distributors — 7.7% | ||
Hanwa Co. Ltd. | 800 | 31,222 |
Inabata & Co. Ltd. | 800 | 16,841 |
ITOCHU Corp. | 32,800 | 1,409,075 |
Kanematsu Corp. | 2,400 | 40,964 |
Marubeni Corp. | 42,400 | 734,353 |
Mitsubishi Corp. | 76,800 | 1,774,941 |
Security | Shares | Value |
Trading Companies & Distributors (continued) | ||
Mitsui & Co. Ltd. | 33,600 | $1,570,852 |
MonotaRO Co. Ltd. | 7,200 | 86,666 |
Sojitz Corp. | 5,620 | 148,249 |
Sumitomo Corp. | 31,200 | 751,544 |
Toyota Tsusho Corp. | 4,800 | 329,620 |
6,894,327 | ||
Wireless Telecommunication Services — 3.9% | ||
KDDI Corp. | 37,600 | 1,111,709 |
SoftBank Corp. | 77,600 | 999,095 |
SoftBank Group Corp. | 24,000 | 1,425,249 |
3,536,053 | ||
Total Long-Term Investments — 99.0% (Cost: $81,324,607) | 88,974,644 | |
Short-Term Securities | ||
Money Market Funds — 0.1% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.50%(c)(d)(e) | 96,913 | 96,952 |
Security | Shares | Value |
Money Market Funds (continued) | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.29%(c)(d) | 20,000 | $20,000 |
Total Short-Term Securities — 0.1% (Cost: $116,961) | 116,952 | |
Total Investments — 99.1% (Cost: $81,441,568) | 89,091,596 | |
Other Assets Less Liabilities — 0.9% | 803,578 | |
Net Assets — 100.0% | $89,895,174 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(c) | Affiliate of the Fund. |
(d) | Annualized 7-day yield as of period end. |
(e) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 03/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 03/31/24 | Shares Held at 03/31/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $— | $96,871 (a) | $— | $90 | $(9 ) | $96,952 | 96,913 | $686 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 20,000 | — | 0 (a) | — | — | 20,000 | 20,000 | 2,867 | — |
$90 | $(9 ) | $116,952 | $3,553 | $— |
(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. |
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) |
Long Contracts | ||||
Mini TOPIX Index | 50 | 06/13/24 | $914 | $5,359 |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Assets—Derivative Financial Instruments | |||||||
Futures contracts | |||||||
Unrealized appreciation on futures contracts(a) | $— | $— | $5,359 | $— | $— | $— | $5,359 |
(a) | Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statement of Assets and Liabilities, only current day's variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | |
Net Realized Gain (Loss) from | |||||||
Futures contracts | $— | $— | $133,224 | $— | $— | $— | $133,224 |
Net Change in Unrealized Appreciation (Depreciation) on | |||||||
Futures contracts | $— | $— | $(3,137 ) | $— | $— | $— | $(3,137 ) |
Futures contracts: | |
Average notional value of contracts — long | $651,255 |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Common Stocks | $4,332,714 | $84,641,930 | $— | $88,974,644 |
Short-Term Securities | ||||
Money Market Funds | 116,952 | — | — | 116,952 |
$4,449,666 | $84,641,930 | $— | $89,091,596 | |
Derivative Financial Instruments(a) | ||||
Assets | ||||
Equity Contracts | $— | $5,359 | $— | $5,359 |
(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
iShares JPX-Nikkei 400 ETF | |
ASSETS | |
Investments, at value—unaffiliated(a)(b) | $88,974,644 |
Investments, at value—affiliated(c) | 116,952 |
Cash | 14,899 |
Foreign currency collateral pledged for futures contracts(d) | 4,790 |
Foreign currency, at value(e) | 89,031 |
Receivables: | |
Investments sold | 179,791 |
Securities lending income—affiliated | 64 |
Dividends— unaffiliated | 717,242 |
Dividends—affiliated | 88 |
Tax reclaims | 43,712 |
Variation margin on futures contracts | 2,650 |
Total assets | 90,143,863 |
LIABILITIES | |
Collateral on securities loaned, at value | 96,853 |
Payables: | |
Investments purchased | 115,675 |
Investment advisory fees | 36,161 |
Total liabilities | 248,689 |
Commitments and contingent liabilities | |
NET ASSETS | $89,895,174 |
NET ASSETS CONSIST OF | |
Paid-in capital | $108,704,132 |
Accumulated loss | (18,808,958) |
NET ASSETS | $89,895,174 |
NET ASSET VALUE | |
Shares outstanding | 1,200,000 |
Net asset value | $74.91 |
Shares authorized | Unlimited |
Par value | None |
(a) Investments, at cost—unaffiliated | $81,324,607 |
(b) Securities loaned, at value | $91,605 |
(c) Investments, at cost—affiliated | $116,961 |
(d) Foreign currency collateral pledged, at cost | $4,918 |
(e) Foreign currency, at cost | $89,420 |
iShares JPX-Nikkei 400 ETF | |
INVESTMENT INCOME | |
Dividends—unaffiliated | $2,395,820 |
Dividends—affiliated | 2,867 |
Securities lending income—affiliated—net | 686 |
Foreign taxes withheld | (239,595 ) |
Total investment income | 2,159,778 |
EXPENSES | |
Investment advisory | 432,845 |
Commitment costs | 505 |
Total expenses | 433,350 |
Net investment income | 1,726,428 |
REALIZED AND UNREALIZED GAIN (LOSS) | |
Net realized gain (loss) from: | |
Investments—unaffiliated | (1,835,885 ) |
Investments—affiliated | 90 |
Foreign currency transactions | (37,746 ) |
Futures contracts | 133,224 |
In-kind redemptions—unaffiliated(a) | 11,173,786 |
9,433,469 | |
Net change in unrealized appreciation (depreciation) on: | |
Investments—unaffiliated | 4,241,678 |
Investments—affiliated | (9 ) |
Foreign currency translations | 15 |
Futures contracts | (3,137 ) |
4,238,547 | |
Net realized and unrealized gain | 13,672,016 |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $15,398,444 |
(a) See Note 2 of the Notes to Financial Statements. |
iShares JPX-Nikkei 400 ETF | ||
Year Ended 03/31/24 | Year Ended 03/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||
OPERATIONS | ||
Net investment income | $1,726,428 | $1,120,612 |
Net realized gain | 9,433,469 | 658,670 |
Net change in unrealized appreciation (depreciation) | 4,238,547 | (5,205,255 ) |
Net increase (decrease) in net assets resulting from operations | 15,398,444 | (3,425,973 ) |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||
Decrease in net assets resulting from distributions to shareholders | (2,031,656 ) | (865,818 ) |
CAPITAL SHARE TRANSACTIONS | ||
Net increase (decrease) in net assets derived from capital share transactions | 20,110,420 | (17,344,758 ) |
NET ASSETS | ||
Total increase (decrease) in net assets | 33,477,208 | (21,636,549 ) |
Beginning of year | 56,417,966 | 78,054,515 |
End of year | $89,895,174 | $56,417,966 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
iShares JPX-Nikkei 400 ETF | |||||
Year Ended 03/31/24 | Year Ended 03/31/23 | Year Ended 03/31/22 | Year Ended 03/31/21 | Year Ended 03/31/20 | |
Net asset value, beginning of year | $62.69 | $65.05 | $73.30 | $53.52 | $58.88 |
Net investment income(a) | 1.27 | 1.16 | 1.12 | 0.88 | 0.96 |
Net realized and unrealized gain (loss)(b) | 12.70 | (2.66 ) | (7.51 ) | 19.82 | (5.10 ) |
Net increase (decrease) from investment operations | 13.97 | (1.50 ) | (6.39 ) | 20.70 | (4.14 ) |
Distributions from net investment income(c) | (1.75 ) | (0.86 ) | (1.86 ) | (0.92 ) | (1.22 ) |
Net asset value, end of year | $74.91 | $62.69 | $65.05 | $73.30 | $53.52 |
Total Return(d) | |||||
Based on net asset value | 22.72 % | (2.28 )% | (8.94 )% | 38.91 % | (7.29 )% |
Ratios to Average Net Assets(e) | |||||
Total expenses | 0.48 % | 0.48 % | 0.48 % | 0.48 % | 0.48 % |
Net investment income | 1.91 % | 1.99 % | 1.57 % | 1.36 % | 1.61 % |
Supplemental Data | |||||
Net assets, end of year (000) | $89,895 | $56,418 | $78,055 | $87,962 | $80,279 |
Portfolio turnover rate(f) | 12 % | 12 % | 11 % | 10 % | 7 % |
(a) Based on average shares outstanding. | |||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | |||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | |||||
(d) Where applicable, assumes the reinvestment of distributions. | |||||
(e) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | |||||
(f) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares ETF | Diversification Classification |
JPX-Nikkei 400 | Diversified |
iShares ETF and Counterparty | Securities Loaned at Value | Cash Collateral Received(a) | Non-Cash Collateral Received, at Fair Value(a) | Net Amount |
JPX-Nikkei 400 | ||||
J.P. Morgan Securities LLC | $5,937 | $(5,937) | $— | $— |
Macquarie Bank Ltd. | 63,749 | (63,749) | — | — |
Morgan Stanley | 21,462 | (21,462) | — | — |
Nomura Securities International, Inc. | 457 | (457) | — | — |
$91,605 | $(91,605) | $— | $— |
(a) | Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by the Fund is disclosed in the Fund’s Statements of Assets and Liabilities. |
iShares ETF | Purchases | Sales | Net Realized Gain (Loss) |
JPX-Nikkei 400 | $616,294 | $12,740 | $(356) |
iShares ETF | Purchases | Sales |
JPX-Nikkei 400 | $10,821,214 | $10,595,410 |
iShares ETF | In-kind Purchases | In-kind Sales |
JPX-Nikkei 400 | $66,475,566 | $46,999,574 |
iShares ETF | Paid-in Capital | Accumulated Earnings (Loss) |
JPX-Nikkei 400 | $10,626,263 | $ (10,626,263) |
iShares ETF | Year Ended 03/31/24 | Year Ended 03/31/23 |
JPX-Nikkei 400 | ||
Ordinary income | $2,031,656 | $865,818 |
iShares ETF | Undistributed Ordinary Income | Non-expiring Capital Loss Carryforwards(a) | Net Unrealized Gains (Losses)(b) | Total |
JPX-Nikkei 400 | $1,293,711 | $(26,185,343) | $6,082,674 | $(18,808,958) |
(a) | Amounts available to offset future realized capital gains. |
(b) | The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales and the realization for tax purposes of unrealized gains on investments in passive foreign investment companies. |
iShares ETF | Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) |
JPX-Nikkei 400 | $83,013,363 | $12,900,984 | $(6,817,392) | $6,083,592 |
Year Ended 03/31/24 | Year Ended 03/31/23 | |||
iShares ETF | Shares | Amount | Shares | Amount |
JPX-Nikkei 400 | ||||
Shares sold | 1,050,000 | $68,286,446 | — | $— |
Shares redeemed | (750,000 ) | (48,176,026 ) | (300,000 ) | (17,344,758 ) |
300,000 | $20,110,420 | (300,000 ) | $(17,344,758 ) |
iShares Trust and Shareholders of iShares JPX-Nikkei 400 ETF
Philadelphia, Pennsylvania
May 23, 2024
iShares ETF | Qualified Dividend Income |
JPX-Nikkei 400 | $2,202,951 |
iShares ETF | Foreign Source Income Earned | Foreign Taxes Paid |
JPX-Nikkei 400 | $2,396,034 | $221,885 |
Total Cumulative Distributions for the Fiscal Year | % Breakdown of the Total Cumulative Distributions for the Fiscal Year | |||||||
iShares ETF | Net Investment Income | Net Realized Capital Gains | Return of Capital | Total Per Share | Net Investment Income | Net Realized Capital Gains | Return of Capital | Total Per Share |
JPX-Nikkei 400(a) | $1.373513 | $— | $0.377108 | $1.750621 | 78% | —% | 22% | 100% |
(a) | The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder's investment in the Fund is returned to the shareholder. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. When distributions exceed total return performance, the difference will incrementally reduce the Fund’s net asset value per share. |
Interested Trustees | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
Robert S. Kapito(a) (1957) | Trustee (since 2009). | President of BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). |
Stephen Cohen(b) (1975) | Trustee (since 2024). | Senior Managing Director, Head of Global Product Solutions of BlackRock, Inc. (since 2024); Senior Managing Director, Head of Europe, Middle East and Africa Regions of BlackRock, Inc. (2021-2024); Head of iShares Index and Wealth in EMEA of BlackRock, Inc. (2017-2021); Global Head of Fixed Income Indexing of BlackRock, Inc. (2016-2017); Chief Investment Strategist for International Fixed Income and iShares of BlackRock, Inc. (2011-2015). | Director of iShares, Inc. (since 2024); Trustee of iShares U.S. ETF Trust (since 2024). |
(a) Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. | |||
(b) Stephen Cohen is deemed to be an "interested person" (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
Independent Trustees | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
John E. Kerrigan (1955) | Trustee (since 2005); Independent Board Chair (since 2022). | Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2022). |
Jane D. Carlin (1956) | Trustee (since 2015); Risk Committee Chair (since 2016). | Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016), Chair of the Audit Committee (since 2020) and Director of The Hanover Insurance Group, Inc. (since 2016). |
Richard L. Fagnani (1954) | Trustee (since 2017); Audit Committee Chair (since 2019). | Partner, KPMG LLP (2002-2016); Director of One Generation Away (since 2021). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). |
Independent Trustees (continued) | |||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years | Other Directorships Held by Trustee |
Cecilia H. Herbert (1949) | Trustee (since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2022). | Chair of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York’s public media company (since 2011) and Member of the Audit Committee (since 2018), Investment Committee (since 2011) and Personnel Committee (since 2022); Member of the Wyoming State Investment Funds Committee (since 2022); Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios) (2015-2018); Director of the Jackson Hole Center for the Arts (since 2021). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011). |
Drew E. Lawton (1959) | Trustee (since 2017); 15(c) Committee Chair (since 2017). | Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017); Director of Jackson Financial Inc. (since 2021). |
John E. Martinez (1961) | Trustee (since 2003); Securities Lending Committee Chair (since 2019). | Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (2017-2020); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). |
Madhav V. Rajan (1964) | Trustee (since 2011); Fixed-Income Plus Committee Chair (since 2019). | Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Advisory Board Member (since 2016) and Director (since 2020) of C.M. Capital Corporation; Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Director of WellBe Senior Medical (since 2023); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). | Director of iShares, Inc. (since 2011); Trustee of iShares U.S. ETF Trust (since 2011). |
Officers | ||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years |
Jessica Tan (1980) | President (since 2024). | Managing Director of BlackRock, Inc. (since 2015); Head of Global Product Solutions, Americas of BlackRock, Inc. (since 2024) and Head of Sustainable and Transition Solutions of BlackRock, Inc. (2022-2024); Global Head of Corporate Strategy of BlackRock, Inc. (2019-2022); Chief of Staff to the CEO of BlackRock, Inc. (2017-2019). |
Trent Walker (1974) | Treasurer and Chief Financial Officer (since 2020). | Managing Director of BlackRock, Inc. (since 2019); Chief Financial Officer of iShares Delaware Trust Sponsor LLC, BlackRock Funds, BlackRock Funds II, BlackRock Funds IV, BlackRock Funds V and BlackRock Funds VI (since 2021). |
Aaron Wasserman (1974) | Chief Compliance Officer (iShares, Inc. and iShares Trust, since 2023; iShares U.S. ETF Trust, since 2023). | Managing Director of BlackRock, Inc. (since 2018); Chief Compliance Officer of the BlackRock Multi-Asset Complex, the BlackRock Fixed-Income Complex and the Exchange-Traded Fund Complex (since 2023); Deputy Chief Compliance Officer for the BlackRock Multi-Asset Complex, the BlackRock Fixed-Income Complex and the Exchange-Traded Fund Complex (2014-2023). |
Marisa Rolland (1980) | Secretary (since 2022). | Managing Director of BlackRock, Inc. (since 2023); Director of BlackRock, Inc. (2018-2022). |
Rachel Aguirre (1982) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2018); Head of U.S. iShares Product (since 2022); Head of EII U.S. Product Engineering of BlackRock, Inc. (since 2021); Co-Head of EII’s Americas Portfolio Engineering of BlackRock, Inc. (2020-2021); Head of Developed Markets Portfolio Engineering of BlackRock, Inc. (2016-2019). |
Jennifer Hsui (1976) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2009); Co-Head of Index Equity of BlackRock, Inc. (since 2022). |
Officers (continued) | ||
Name (Year of Birth) | Position(s) | Principal Occupation(s) During Past 5 Years |
James Mauro (1970) | Executive Vice President (since 2022). | Managing Director of BlackRock, Inc. (since 2010); Head of Fixed Income Index Investments in the Americas and Head of San Francisco Core Portfolio Management of BlackRock, Inc. (since 2020). |
Effective July 1, 2023, Aaron Wasserman replaced Charles Park as Chief Compliance Officer. |
Effective February 1, 2024, Salim Ramji resigned as Trustee of the Trust. |
Effective March 5, 2024, Stephen Cohen replaced Salim Ramji as Trustee of the Trust. |
Effective March 5, 2024, Dominik Rohé resigned as President of the Trust. |
Effective March 5, 2024, Jessica Tan replaced Dominik Rohé as President of the Trust. |
Effective April 8, 2024, Laura Fergerson was appointed as Trustee of the Trust. |
Effective April 8, 2024, James Lam was appointed as Trustee of the Trust. |
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(b) Not Applicable
Item 2. | Code of Ethics. |
The registrant has adopted a code of ethics, as of the end of the period covered by this report, applicable to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. During the period covered by this report, the registrant has not amended the code of ethics and there have been no waivers granted under the code of ethics. The registrant undertakes to provide a copy of the code of ethics to any person upon request, without charge, by calling 1-800-474-2737.
Item 3. | Audit Committee Financial Expert. |
The registrant’s Board of Trustees has determined that the registrant has more than one audit committee financial expert, as that term is defined under Item 3(b) and 3(c), serving on its audit committee. The audit committee financial experts serving on the registrant’s audit committee are Richard L. Fagnani and Madhav V. Rajan, all of whom are independent, as that term is defined under Item 3(a)(2).
Item 4. | Principal Accountant Fees and Services. |
The principal accountant fees disclosed in items 4(a), 4(b), 4(c), 4(d) and 4(g) are for the twenty series of the registrant for which the fiscal year-end is March 31, 2024 (the “Funds”), and whose annual financial statements are reported in Item 1.
(a) Audit Fees – The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the Funds’ annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $283,700 for the fiscal year ended March 31, 2023 and $270,400 for the fiscal year ended March 31, 2024.
(b) Audit-Related Fees – There were no fees billed for the fiscal years ended March 31, 2023 and March 31, 2024 for assurance and related services by the principal accountant that were reasonably related to the performance of the audit of the Fund’s financial statements and are not reported under (a) of this Item.
(c) Tax Fees – The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning for the Funds were $203,700 for the fiscal year ended March 31, 2023 and $194,000 for the fiscal year ended March 31, 2024. These services related to the review of the Funds’ tax returns and excise tax calculations.
(d) All Other Fees – There were no other fees billed in each of the fiscal years ended March 31, 2023 and March 31, 2024 for products and services provided by the principal accountant, other than the services reported in (a) through (c) of this Item.
(e) (1) The registrant’s audit committee charter, as amended, provides that the audit committee is responsible for the approval, prior to appointment, of the engagement of the principal accountant to annually audit and provide their opinion on the registrant’s financial statements. The audit committee must also approve, prior to appointment, the engagement of the principal accountant to provide non-audit services to the registrant or to any entity controlling, controlled by or under common control with the registrant’s investment adviser (“Adviser Affiliate”) that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant.
(2) There were no services described in (b) through (d) above that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
(f) Not Applicable
(g) The aggregate non-audit fees billed by the registrant’s principal accountant for services rendered to the Funds, and rendered to the registrant’s investment adviser, and any Adviser Affiliate that provides ongoing services to the registrant for the last two fiscal years were $203,700 for the fiscal year ended March 31, 2023 and $194,000 for the fiscal year ended March 31, 2024.
(h) The registrant’s audit committee has considered whether the provision of non-audit services rendered to the registrant’s investment adviser and any Adviser Affiliate that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, if any, is compatible with maintaining the principal accountant’s independence, and has determined that the provision of these services, if any, does not compromise the principal accountant’s independence.
(i) Not Applicable
(j) Not Applicable
Item 5. | Audit Committee of Listed Registrants. |
(a) The registrant is a listed issuer as defined in Rule 10A-3 under the Exchange Act of 1934 and has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act of 1934. The registrant’s audit committee members are Richard L. Fagnani, Cecilia H. Herbert and Madhav V. Rajan.
(b) Not applicable.
Item 6. | Investments. |
(a) Schedules of investments are included as part of the reports to shareholders filed under Item 1 of this Form.
(b) Not applicable.
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable to the registrant.
Item 8. | Portfolio Managers of Closed-End Management Investment Companies. |
Not applicable to the registrant.
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not applicable to the registrant.
Item 10. | Submission of Matters to a Vote of Security Holders. |
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Trustees.
Item 11. | Controls and Procedures. |
(a) The President (the registrant’s Principal Executive Officer) and Treasurer and Chief Financial Officer (the registrant’s Principal Financial Officer) have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective as of a date within 90 days of the filing date of this report, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rules 13a-15(b) or 15d-15(b) under the Exchange Act of 1934.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not applicable to the registrant.
Item 13. | Recovery of Erroneously Awarded Compensation. |
Not applicable
Item 14. | Exhibits. |
(a) (1) Code of Ethics is not filed as an exhibit; please refer to Item 2.
(a) (2) Section 302 Certifications are attached.
(a) (3) Any written solicitation to purchase securities under Rule 23c-1 – Not Applicable
(a) (4) Change in Registrant’s independent public accountant – Not Applicable
(b) Section 906 Certifications are attached.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
iShares Trust
By: | /s/ Jessica Tan | |||
Jessica Tan, President (Principal Executive Officer) |
Date: May 23, 2024
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Jessica Tan | |||
Jessica Tan, President (Principal Executive Officer) |
Date: May 23, 2024
By: | /s/ Trent Walker | |||
Trent Walker, Treasurer and Chief Financial Officer (Principal Financial Officer) |
Date: May 23, 2024