iShares Russell Small/Mid-Cap Idx Inv A (BSMAX) NPORT-P iShares Europe ETF (Jun 2024 report)

Schedule of Investments (unaudited)	iShares® Europe ETF
June 30, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Austria — 0.3%
Erste Group Bank AG		54,181	$	2,564,667
OMV AG		22,572		981,143
Verbund AG		13,029		1,030,885
				4,576,695
Belgium — 1.4%
Ageas SA/NV		28,054		1,280,013
Anheuser-Busch InBev SA/NV		143,827		8,349,986
Argenx SE(a)		9,325		4,046,013
Groupe Bruxelles Lambert NV		14,496		1,032,136
KBC Group NV		53,841		3,793,772
Syensqo SA		11,335		1,011,740
UCB SA		19,295		2,865,055
Umicore SA		31,122		468,348
				22,847,063
Denmark — 6.0%
AP Moller - Maersk A/S, Class A		452		766,961
AP Moller - Maersk A/S, Class B, NVS		745		1,292,088
Carlsberg A/S, Class B		14,053		1,687,118
Coloplast A/S, Class B		20,026		2,407,388
Danske Bank A/S		107,133		3,195,351
DSV A/S		28,412		4,361,187
Genmab A/S(a)		10,616		2,660,298
GN Store Nord A/S(a)		23,505		654,821
Novo Nordisk A/S, Class B		508,025		72,690,633
Novonesis (Novozymes) B, Class B		56,165		3,431,367
Orsted A/S(a)(b)		30,355		1,612,502
Pandora A/S		13,493		2,030,871
Tryg A/S		51,843		1,132,698
Vestas Wind Systems A/S(a)		162,240		3,762,015
				101,685,298
Finland — 1.2%
Elisa OYJ		24,031		1,100,208
Fortum OYJ		69,787		1,021,648
Kesko OYJ, Class B		42,848		753,784
Kone OYJ, Class B		63,612		3,153,968
Metso OYJ		110,864		1,178,305
Neste OYJ		68,710		1,226,095
Nokia OYJ		842,519		3,206,682
Sampo OYJ, Class A		74,259		3,202,363
Stora Enso OYJ, Class R		98,183		1,340,737
UPM-Kymmene OYJ		85,095		2,988,754
Wartsila OYJ Abp		77,163		1,495,903
				20,668,447
France — 16.7%
Accor SA		28,106		1,150,069
Air Liquide SA		91,846		15,851,469
Airbus SE		99,571		13,665,786
Alstom SA		51,920		875,621
ArcelorMittal SA		74,545		1,707,771
Arkema SA		9,998		871,260
AXA SA		280,717		9,199,443
BNP Paribas SA		159,005		10,168,701
Bouygues SA		31,372		1,008,434
Bureau Veritas SA		46,404		1,289,524
Capgemini SE		24,665		4,899,393
Carrefour SA		82,844		1,173,921
Cie. de Saint-Gobain SA		80,582		6,267,195
Cie. Generale des Etablissements Michelin SCA		112,817		4,360,501
Credit Agricole SA		178,899		2,442,798

Security	Shares		Value
France (continued)
Danone SA		99,173	$	6,074,325
Dassault Systemes SE		105,628		3,971,716
Edenred SE		40,065		1,699,230
Eiffage SA		12,637		1,161,422
Engie SA		281,938		4,037,452
EssilorLuxottica SA		45,700		9,820,178
Eurofins Scientific SE		21,075		1,055,203
Euronext NV(b)		15,494		1,435,835
Gecina SA		8,443		779,383
Getlink SE		56,451		934,681
Hermes International SCA(c)		5,388		12,444,262
Kering SA		10,975		3,992,101
Legrand SA		41,719		4,140,828
L’Oreal SA		36,544		16,085,410
LVMH Moet Hennessy Louis Vuitton SE		41,475		31,844,124
Orange SA		289,283		2,901,654
Pernod Ricard SA		31,547		4,304,262
Publicis Groupe SA		37,731		4,007,751
Renault SA		30,796		1,579,365
Safran SA		55,745		11,748,733
Sanofi SA		177,606		17,128,879
Sartorius Stedim Biotech		4,401		727,315
Schneider Electric SE		85,970		20,610,944
Societe Generale SA		109,790		2,581,281
Sodexo SA		13,703		1,234,380
Teleperformance SE		10,072		1,064,094
Thales SA		15,715		2,513,902
TotalEnergies SE		353,728		23,683,410
Unibail-Rodamco-Westfield, New		16,958		1,340,141
Veolia Environnement SA		96,978		2,904,767
Vinci SA		80,960		8,533,537
Vivendi SE		103,035		1,076,883
Worldline SA/France(a)(b)		38,507		419,635
				282,768,969
Germany — 12.3%
adidas AG		26,440		6,312,988
Allianz SE, Registered		62,584		17,381,517
BASF SE		142,198		6,874,215
Bayer AG, Registered		157,958		4,452,524
Bayerische Motoren Werke AG		47,365		4,480,324
Beiersdorf AG		14,974		2,191,684
Brenntag SE		23,478		1,583,825
Commerzbank AG		158,069		2,397,628
Continental AG		16,847		954,167
Covestro AG(a)(b)		29,897		1,752,469
Daimler Truck Holding AG		82,537		3,291,835
Delivery Hero SE, Class A(a)(b)		33,839		803,832
Deutsche Bank AG, Registered		323,666		5,173,010
Deutsche Boerse AG		29,959		6,123,520
Deutsche Post AG, Registered		152,698		6,200,595
Deutsche Telekom AG, Registered		553,678		13,916,977
E.ON SE		356,823		4,689,613
Fresenius Medical Care AG & Co. KGaA		32,829		1,254,618
Fresenius SE & Co. KGaA(a)		65,898		1,968,655
GEA Group AG		22,376		930,247
Hannover Rueck SE		9,515		2,408,611
Heidelberg Materials AG		21,272		2,198,974
Henkel AG & Co. KGaA		13,608		1,070,638
Infineon Technologies AG		208,949		7,668,492
LEG Immobilien SE		11,953		976,514
Mercedes-Benz Group AG		128,098		8,865,855
Merck KGaA		20,549		3,398,300

1

Schedule of Investments (unaudited) (continued)	iShares® Europe ETF
June 30, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
Germany (continued)
MTU Aero Engines AG		9,033	$	2,302,993
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered		21,298		10,648,048
Puma SE		16,718		767,858
Qiagen NV, NVS		37,041		1,530,463
Rheinmetall AG		7,106		3,621,329
RWE AG		107,562		3,689,952
SAP SE		162,611		32,664,577
Siemens AG, Registered		119,974		22,330,223
Siemens Energy AG(a)		82,512		2,151,466
Siemens Healthineers AG(b)		45,193		2,602,623
Symrise AG, Class A		20,820		2,547,475
Volkswagen AG		5,408		648,008
Vonovia SE		131,645		3,746,408
Zalando SE(a)(b)		34,310		805,414
				209,378,464
Ireland — 0.7%
AIB Group PLC		278,099		1,468,666
Bank of Ireland Group PLC		165,559		1,729,506
Kerry Group PLC, Class A		26,411		2,140,324
Kingspan Group PLC		26,536		2,255,234
Ryanair Holdings PLC, ADR(c)		12,385		1,442,109
Smurfit Kappa Group PLC		44,624		1,990,348
				11,026,187
Italy — 4.1%
Assicurazioni Generali SpA		184,489		4,592,664
Banco BPM SpA		247,431		1,592,417
Enel SpA		1,243,672		8,629,580
Eni SpA		380,182		5,837,562
Ferrari NV		20,113		8,207,947
FinecoBank Banca Fineco SpA		96,874		1,439,475
Intesa Sanpaolo SpA		2,587,674		9,616,866
Mediobanca Banca di Credito Finanziario SpA		103,100		1,509,182
Moncler SpA		33,260		2,040,298
Nexi SpA(a)(b)		144,265		879,439
Prysmian SpA		45,076		2,782,855
Snam SpA		326,366		1,441,236
Stellantis NV		355,545		7,028,664
Telecom Italia SpA/Milano(a)		1,759,371		420,804
Tenaris SA, NVS		72,979		1,122,588
Terna - Rete Elettrica Nazionale		237,342		1,829,582
UniCredit SpA		270,305		10,002,913
				68,974,072
Netherlands — 8.0%
ABN AMRO Bank NV, CVA(b)		66,076		1,085,210
Adyen NV(a)(b)		4,952		5,881,370
Aegon Ltd.		200,864		1,241,927
Akzo Nobel NV		27,052		1,648,800
ASM International NV		7,177		5,485,927
ASML Holding NV		63,772		64,994,245
ASR Nederland NV		23,104		1,099,950
BE Semiconductor Industries NV		12,701		2,121,719
DSM-Firmenich AG		32,930		3,708,088
EXOR NV, NVS		15,545		1,623,784
Heineken Holding NV		16,142		1,272,308
Heineken NV		40,280		3,896,929
IMCD NV		9,162		1,262,958
ING Groep NV		555,841		9,550,831
Koninklijke Ahold Delhaize NV		149,299		4,393,435
Koninklijke KPN NV		504,703		1,934,392
Koninklijke Philips NV(a)		150,417		3,782,769

Security	Shares		Value
Netherlands (continued)
NN Group NV		44,822	$	2,083,257
Prosus NV		234,105		8,324,417
Randstad NV		19,669		893,023
Universal Music Group NV		121,584		3,616,913
Wolters Kluwer NV		39,810		6,574,153
				136,476,405
Norway — 0.8%
Aker BP ASA		48,375		1,236,110
DNB Bank ASA		139,589		2,738,857
Equinor ASA		159,464		4,567,656
Mowi ASA		72,233		1,200,539
Norsk Hydro ASA		218,907		1,364,772
Orkla ASA		116,548		945,107
Telenor ASA		100,252		1,142,706
Yara International ASA		27,254		785,404
				13,981,151
Portugal — 0.2%
EDP - Energias de Portugal SA		470,399		1,763,666
Galp Energia SGPS SA		69,204		1,461,649
Jeronimo Martins SGPS SA		45,132		882,059
				4,107,374
Singapore — 0.2%
STMicroelectronics NV , New		105,042		4,116,573
Spain — 4.3%
ACS Actividades de Construccion y Servicios SA		31,628		1,366,075
Aena SME SA(b)		12,508		2,532,835
Amadeus IT Group SA		71,313		4,745,481
Banco Bilbao Vizcaya Argentaria SA		931,130		9,347,143
Banco de Sabadell SA		884,475		1,707,608
Banco Santander SA		2,525,822		11,752,074
CaixaBank SA		644,442		3,422,336
Cellnex Telecom SA(b)		92,650		3,013,392
Enagas SA		35,814		532,551
Endesa SA		51,442		966,543
Ferrovial SE		79,416		3,085,144
Grifols SA(a)(c)		49,182		415,933
Iberdrola SA		923,802		11,986,265
Industria de Diseno Textil SA		177,833		8,824,677
Naturgy Energy Group SA		31,086		675,647
Redeia Corp. SA		61,932		1,082,969
Repsol SA		194,373		3,082,499
Telefonica SA		897,758		3,803,117
				72,342,289
Sweden — 4.9%
Alfa Laval AB		46,692		2,044,718
Assa Abloy AB, Class B		157,747		4,467,478
Atlas Copco AB, Class A		410,613		7,709,768
Atlas Copco AB, Class B		251,227		4,056,637
Boliden AB		44,096		1,418,163
Epiroc AB		101,179		2,027,359
Epiroc AB, Class B		62,515		1,147,514
EQT AB		58,670		1,720,050
Essity AB, Class B		97,172		2,484,184
Evolution AB(b)		31,146		3,241,966
Getinge AB, Class B		36,542		620,700
H & M Hennes & Mauritz AB, Class B		98,777		1,564,638
Hexagon AB, Class B		337,939		3,829,263
Industrivarden AB, Class A		23,425		797,950
Industrivarden AB, Class C		29,625		1,000,344
Investor AB, Class B		290,351		7,956,503

2

Schedule of Investments (unaudited) (continued)	iShares® Europe ETF
June 30, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
Sweden (continued)
Nibe Industrier AB, Class B		241,875	$	1,020,118
Nordea Bank Abp		558,605		6,658,905
Sandvik AB		172,512		3,466,510
Skandinaviska Enskilda Banken AB, Class A		262,236		3,877,072
Skanska AB, Class B		57,683		1,040,622
SKF AB, Class B		59,505		1,195,886
SSAB AB, Class B		98,603		534,653
Svenska Cellulosa AB SCA, Class B		95,261		1,401,936
Svenska Handelsbanken AB, Class A		252,877		2,416,526
Swedbank AB, Class A		146,034		3,008,046
Tele2 AB, Class B		89,738		905,850
Telefonaktiebolaget LM Ericsson, Class B		493,345		3,062,298
Telia Co. AB		365,027		978,669
Trelleborg AB, Class B		29,396		1,143,980
Volvo AB, Class B		255,371		6,561,609
				83,359,915
Switzerland — 14.7%
ABB Ltd., Registered		257,935		14,302,728
Adecco Group AG, Registered		26,645		883,944
Alcon Inc.		79,314		7,050,367
Baloise Holding AG, Registered		7,215		1,272,027
Barry Callebaut AG, Registered		581		947,153
Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS		171		1,997,419
Chocoladefabriken Lindt & Spruengli AG, Registered		17		1,959,632
Cie. Financiere Richemont SA, Class A, Registered		85,559		13,371,412
Geberit AG, Registered		5,314		3,130,221
Givaudan SA, Registered		1,272		6,024,975
Holcim AG		84,661		7,483,361
Julius Baer Group Ltd.		33,470		1,872,050
Kuehne + Nagel International AG, Registered		9,098		2,618,242
Logitech International SA, Registered		25,592		2,462,993
Lonza Group AG, Registered		11,834		6,442,487
Nestle SA, Registered		418,062		42,673,373
Novartis AG, Registered		317,988		33,856,700
Partners Group Holding AG		3,531		4,521,641
Roche Holding AG, Bearer		4,382		1,335,998
Roche Holding AG, NVS		112,105		31,059,667
Sandoz Group AG		69,515		2,519,782
Schindler Holding AG, Participation Certificates, NVS		6,916		1,735,249
Schindler Holding AG, Registered		2,552		636,183
SGS SA		24,703		2,202,318
SIG Group AG		55,513		1,020,097
Sika AG, Registered		25,446		7,263,803
Sonova Holding AG, Registered		7,660		2,359,790
Straumann Holding AG		18,784		2,318,669
Swatch Group AG (The), Bearer		4,865		996,728
Swatch Group AG (The), Registered		8,769		359,028
Swiss Life Holding AG, Registered		4,710		3,456,822
Swiss Prime Site AG, Registered		12,242		1,159,255
Swiss Re AG		45,844		5,683,597
Swisscom AG, Registered		4,022		2,261,633
Temenos AG, Registered		9,630		663,614
UBS Group AG, Registered		486,145		14,278,148
VAT Group AG(b)		4,245		2,396,969
Zurich Insurance Group AG		23,190		12,353,209
				248,931,284
United Kingdom — 23.5%
3i Group PLC		155,072		5,976,609
abrdn PLC		303,821		567,420
Admiral Group PLC		42,734		1,412,145

Security	Shares		Value
United Kingdom (continued)
Anglo American PLC		213,370	$	6,742,593
Antofagasta PLC		55,058		1,463,223
Ashtead Group PLC		72,028		4,802,370
Associated British Foods PLC		53,379		1,666,698
AstraZeneca PLC		247,364		38,497,991
Auto Trader Group PLC(b)		142,847		1,437,778
Aviva PLC		431,902		2,601,475
BAE Systems PLC		492,600		8,205,055
Barclays PLC		2,260,430		5,972,992
Barratt Developments PLC		161,797		960,933
Berkeley Group Holdings PLC		18,074		1,044,307
BP PLC		2,658,511		16,006,278
British American Tobacco PLC		339,916		10,442,098
British Land Co. PLC (The)		155,037		805,854
BT Group PLC		886,239		1,571,169
Bunzl PLC		53,552		2,034,658
Burberry Group PLC		56,701		629,668
Centrica PLC		915,145		1,559,859
Compass Group PLC		285,805		7,786,272
Croda International PLC		22,397		1,114,229
DCC PLC		17,785		1,241,247
Diageo PLC		353,364		11,093,501
DS Smith PLC		220,625		1,169,305
Entain PLC		99,646		790,161
Experian PLC		147,046		6,831,278
Flutter Entertainment PLC(a)		28,647		5,210,833
Glencore PLC		1,772,932		10,088,460
GSK PLC		652,543		12,551,149
Haleon PLC		1,112,861		4,527,914
Halma PLC		60,047		2,046,735
Hargreaves Lansdown PLC		57,262		816,238
HSBC Holdings PLC		2,999,551		25,892,125
IMI PLC		41,945		932,065
Imperial Brands PLC		138,174		3,535,707
Informa PLC		214,850		2,318,648
InterContinental Hotels Group PLC		27,575		2,897,479
Intermediate Capital Group PLC		48,830		1,339,127
Intertek Group PLC		25,516		1,542,445
J Sainsbury PLC		293,114		944,370
Johnson Matthey PLC		32,512		644,012
Kingfisher PLC		306,780		961,961
Land Securities Group PLC		122,254		955,240
Legal & General Group PLC		937,648		2,685,017
Lloyds Banking Group PLC		10,010,038		6,904,065
London Stock Exchange Group PLC		63,635		7,545,731
M&G PLC		383,205		985,150
Marks & Spencer Group PLC		315,071		1,139,213
Melrose Industries PLC		215,884		1,503,511
Mondi PLC, NVS		69,298		1,330,199
National Grid PLC		765,792		8,550,936
NatWest Group PLC, NVS		866,730		3,409,795
Next PLC		20,238		2,309,521
Ocado Group PLC(a)		113,299		411,529
Pearson PLC		108,634		1,356,531
Persimmon PLC		50,780		861,700
Phoenix Group Holdings PLC		147,997		974,255
Prudential PLC		443,401		4,020,323
Reckitt Benckiser Group PLC		116,798		6,318,676
RELX PLC		304,512		13,952,384
Rentokil Initial PLC		405,239		2,353,465
Rightmove PLC		128,621		868,199
Rio Tinto PLC		177,669		11,658,331

3

Schedule of Investments (unaudited) (continued)	iShares® Europe ETF
June 30, 2024	(Percentages shown are based on Net Assets)

Security	Shares		Value
United Kingdom (continued)
Rolls-Royce Holdings PLC(a)		1,348,334	$	7,743,799
Sage Group PLC (The)		159,513		2,185,377
Schroders PLC		146,622		671,020
Segro PLC		214,916		2,431,587
Severn Trent PLC		43,077		1,296,587
Shell PLC		1,016,876		36,473,269
Smith & Nephew PLC		140,198		1,737,376
Smiths Group PLC		54,904		1,181,347
Spirax Group PLC		11,945		1,280,258
SSE PLC		173,633		3,921,254
St. James’s Place PLC		83,368		572,892
Standard Chartered PLC		338,949		3,060,525
Taylor Wimpey PLC		584,358		1,046,422
Tesco PLC		1,121,110		4,330,587
Unilever PLC		402,344		22,083,589
United Utilities Group PLC		107,398		1,334,164
Vodafone Group PLC		3,623,418		3,206,138
Weir Group PLC (The)		42,005		1,050,527
Whitbread PLC		30,899		1,159,624
WPP PLC		173,819		1,591,603
				399,128,150
Total Common Stocks — 99.3%
(Cost: $1,611,416,521)				1,684,368,336

Preferred Stocks

Germany — 0.6%
Bayerische Motoren Werke AG, Preference Shares, NVS	8,053	711,082
Dr Ing hc F Porsche AG, Preference Shares, NVS(b)	14,298	1,063,677
Henkel AG & Co. KGaA, Preference Shares, NVS	26,869	2,392,330
Porsche Automobil Holding SE, Preference Shares, NVS	23,926	1,079,825
Sartorius AG, Preference Shares, NVS	4,241	992,759

Security	Shares		Value
Germany (continued)
Volkswagen AG, Preference Shares, NVS		28,329	$	3,198,736
				9,438,409
Italy — 0.0%
Telecom Italia SpA, Preference Shares, NVS		1,138,633		296,197
Total Preferred Stocks — 0.6%
(Cost: $17,246,476)				9,734,606
Total Long-Term Investments — 99.9%
(Cost: $1,628,662,997)				1,694,102,942

Short-Term Securities

Money Market Funds — 0.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.48%(d)(e)(f)	452,468		452,604
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.28%(d)(e)	1,870,000		1,870,000
Total Short-Term Securities — 0.1%
(Cost: $2,322,655)			2,322,604
Total Investments — 100.0%
(Cost: $1,630,985,652)			1,696,425,546
Other Assets Less Liabilities — 0.0%			181,037
Net Assets — 100.0%		$	1,696,606,583

^(a)  Non-income producing security.

^(b)  Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

^(c)  All or a portion of this security is on loan.

^(d)  Affiliate of the Fund.

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

^(f)  All or a portion of this security was purchased with the cash collateral from loaned securities.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended June 30, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 03/31/24		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 06/30/24		Shares Held at 06/30/24		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	4,329,442	$	—		$	(3,875,938	)(a)	$	(1,622	)	$	722	$	452,604		452,468	$	6,756	(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		1,700,000		170,000	(a)		—			—			—		1,870,000		1,870,000		57,816			—
									$	(1,622	)	$	722	$	2,322,604			$	64,572		$	—

^(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.

4

Schedule of Investments (unaudited) (continued)	iShares® Europe ETF
June 30, 2024

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

							Value/
					Notional		Unrealized
	Number of		Expiration		Amount		Appreciation
Description		Contracts		Date		(000)		(Depreciation)
Long Contracts
Euro STOXX 50 Index		27		09/20/24	$	1,422	$	(1,754	)
FTSE 100 Index		8		09/20/24		829		(2,905	)
							$	(4,659	)

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

● Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access;

● Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and

● Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2			Level 3		Total
Assets
Investments
Long-Term Investments
Common Stocks	$	4,559,026	$	1,679,809,310		$	—	$	1,684,368,336
Preferred Stocks		296,197		9,438,409			—		9,734,606
Short-Term Securities
Money Market Funds		2,322,604		—			—		2,322,604
	$	7,177,827	$	1,689,247,719		$	—	$	1,696,425,546
Derivative Financial Instruments(a)
Liabilities
Equity Contracts	$	—	$	(4,659	)	$	—	$	(4,659	)

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

Portfolio Abbreviation

ADR American Depositary Receipt 

NVS Non-Voting Shares

5