Schedule of Investments (unaudited) | iShares® International High Yield Bond ETF |
July 31, 2022 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Corporate Bonds & Notes | ||||||||
Australia — 1.2% | ||||||||
Cellnex Finance Co. SA | ||||||||
1.00%, 09/15/27 (Call 06/15/27)(a) | EUR | 100 | $ | 88,062 | ||||
2.00%, 09/15/32 (Call 06/15/32)(a) | EUR | 200 | 160,411 | |||||
Energias De Portugal SA, 1.88%, 03/14/82 (Call 06/14/29)(a)(b) | EUR | 100 | 77,721 | |||||
Eurobank SA, 2.25%, 03/14/28 (Call 03/14/27)(a)(b) | EUR | 100 | 82,639 | |||||
408,833 | ||||||||
Austria — 0.3% | ||||||||
ams-OSRAM AG, 6.00%, 07/31/25 (Call 08/29/22)(a) | EUR | 100 | 95,751 | |||||
Belgium — 0.3% | ||||||||
Telenet Finance Luxembourg Notes Sarl, 3.50%, 03/01/28 (Call 12/01/22)(a) | EUR | 100 | 91,394 | |||||
Canada — 3.0% | ||||||||
ADLER Group SA, 2.25%, 01/14/29 (Call 10/14/28)(a) | EUR | 200 | 104,299 | |||||
Air Canada, 4.63%, 08/15/29 (Call 02/15/26)(c) | CAD | 225 | 152,425 | |||||
Brookfield Property Finance ULC | ||||||||
3.93%, 08/24/25 (Call 07/24/25) | CAD | 100 | 73,869 | |||||
4.00%, 09/30/26 (Call 08/30/26) | CAD | 75 | 54,114 | |||||
Mattamy Group Corp., 4.63%, 03/01/28 (Call 03/01/23)(a) | CAD | 50 | 32,310 | |||||
Parkland Corp./Canada | ||||||||
3.88%, 06/16/26 (Call 06/16/23)(c) | CAD | 100 | 71,786 | |||||
4.38%, 03/26/29 (Call 03/26/24) | CAD | 75 | 50,259 | |||||
Rexel SA, 2.13%, 12/15/28 (Call 12/15/24)(a) | EUR | 100 | 87,286 | |||||
Southern Pacific Resource Corp., 8.75%, 01/25/18(c)(d)(e)(f) | CAD | 50 | — | |||||
Tamarack Valley Energy Ltd., 7.25%, 05/10/27 (Call 05/10/24)(c) | CAD | 25 | 18,953 | |||||
Videotron Ltd. | ||||||||
3.63%, 06/15/28 (Call 06/15/24)(c) | CAD | 150 | 101,001 | |||||
4.50%, 01/15/30 (Call 10/15/24) | CAD | 150 | 100,409 | |||||
VZ Vendor Financing II BV, 2.88%, 01/15/29 (Call 12/18/23)(a) | EUR | 200 | 164,360 | |||||
1,011,071 | ||||||||
Denmark — 0.0% | ||||||||
DKT Finance ApS, 7.00%, 06/17/23 (Call 08/29/22)(a) | EUR | 0 | — | |||||
Finland — 1.5% | ||||||||
Nokia OYJ | ||||||||
2.00%, 03/15/24 (Call 12/15/23)(a) | EUR | 100 | 102,372 | |||||
2.00%, 03/11/26 (Call 12/11/25)(a) | EUR | 150 | 148,095 | |||||
Teollisuuden Voima OYJ | ||||||||
1.13%, 03/09/26 (Call 12/09/25)(a) | EUR | 200 | 187,007 | |||||
1.38%, 06/23/28 (Call 03/23/28)(a) | EUR | 100 | 86,466 | |||||
523,940 | ||||||||
France — 13.9% | ||||||||
Accor SA | ||||||||
2.38%, 11/29/28 (Call 08/29/28)(a) | EUR | 100 | 86,095 | |||||
3.00%, 02/04/26 (Call 11/04/25)(a) | EUR | 100 | 100,503 | |||||
Altice France SA/France | ||||||||
2.13%, 02/15/25 (Call 08/29/22)(a) | EUR | 150 | 139,497 | |||||
4.00%, 07/15/29 (Call 04/15/24)(a) | EUR | 100 | 83,477 | |||||
4.25%, 10/15/29 (Call 10/15/24)(a) | EUR | 100 | 84,171 | |||||
5.88%, 02/01/27 (Call 08/29/22)(a) | EUR | 150 | 143,878 | |||||
Banijay Entertainment SASU, 3.50%, 03/01/25 (Call 08/29/22)(a) | EUR | 200 | 195,048 | |||||
CAB SELAS, 3.38%, 02/01/28 (Call 02/01/24)(a) | EUR | 200 | 177,379 | |||||
Casino Guichard Perrachon SA | ||||||||
3.58%, 02/07/25 (Call 11/07/24)(a) | EUR | 200 | 148,061 | |||||
5.25%, 04/15/27 (Call 04/15/23)(a) | EUR | 100 | 65,807 |
Security | Par (000) | Value | ||||||
France (continued) | ||||||||
Chrome Bidco SASU, 3.50%, 05/31/28 (Call 05/31/24)(a) | EUR | 100 | $ | 90,605 | ||||
Elis SA | ||||||||
1.63%, 04/03/28 (Call 01/03/28)(a) | EUR | 100 | 88,152 | |||||
1.75%, 04/11/24 (Call 01/11/24)(a) | EUR | 100 | 101,199 | |||||
4.13%, 05/24/27 (Call 02/24/27)(a) | EUR | 100 | 101,610 | |||||
Faurecia SE | ||||||||
2.63%, 06/15/25 (Call 08/29/22)(a) | EUR | 100 | 97,214 | |||||
2.75%, 02/15/27 (Call 02/15/24)(a) | EUR | 125 | 107,966 | |||||
3.13%, 06/15/26 (Call 08/29/22)(a) | EUR | 100 | 94,439 | |||||
3.75%, 06/15/28 (Call 06/15/23)(a) | EUR | 100 | 87,943 | |||||
Iliad Holding SASU | ||||||||
5.13%, 10/15/26 (Call 10/15/23)(a) | EUR | 150 | 147,686 | |||||
5.63%, 10/15/28 (Call 10/15/24)(a) | EUR | 100 | 95,601 | |||||
iliad SA, 1.88%, 04/25/25 (Call 01/25/25)(a) | EUR | 300 | 294,060 | |||||
Kapla Holding SAS, 3.38%, 12/15/26 (Call 12/15/22)(a) | EUR | 100 | 87,022 | |||||
La Banque Postale SA, 3.00%, 06/09/28(a) | EUR | 100 | 100,388 | |||||
La Financiere Atalian SASU, 4.00%, 05/15/24 (Call 08/08/22)(a) | EUR | 100 | 98,485 | |||||
Loxam SAS | ||||||||
2.88%, 04/15/26 (Call 08/08/22)(a) | EUR | 100 | 91,647 | |||||
4.50%, 02/15/27 (Call 02/15/24)(a) | EUR | 175 | 165,486 | |||||
Orano SA | ||||||||
3.38%, 04/23/26 (Call 01/23/26)(a) | EUR | 100 | 97,047 | |||||
4.88%, 09/23/24 | EUR | 100 | 104,411 | |||||
Paprec Holding SA, 3.50%, 07/01/28 (Call 07/01/24)(a) | EUR | 100 | 84,368 | |||||
Picard Groupe SAS, 3.88%, 07/01/26 (Call 07/01/23)(a) | EUR | 100 | 92,078 | |||||
Quatrim SASU, 5.88%, 01/15/24 (Call 08/08/22)(a) | EUR | 100 | 97,205 | |||||
RCI Banque SA, 2.63%, 02/18/30 (Call 02/18/25)(a)(b) | EUR | 200 | 180,314 | |||||
Renault SA | ||||||||
1.00%, 11/28/25 (Call 08/28/25)(a) | EUR | 100 | 94,911 | |||||
1.25%, 06/24/25 (Call 03/24/25)(a) | EUR | 100 | 93,739 | |||||
2.00%, 09/28/26 (Call 06/28/26)(a) | EUR | 100 | 88,436 | |||||
2.50%, 06/02/27 (Call 03/02/27)(a) | EUR | 100 | 87,862 | |||||
2.50%, 04/01/28 (Call 01/01/28)(a) | EUR | 100 | 83,643 | |||||
SPIE SA, 3.13%, 03/22/24 (Call 09/22/23)(a) | EUR | 100 | 102,904 | |||||
Tereos Finance Groupe I SA, 7.50%, 10/30/25 (Call 10/30/22)(a) | EUR | 100 | 105,276 | |||||
Valeo | ||||||||
1.00%, 08/03/28 (Call 05/03/28)(a) | EUR | 100 | 85,259 | |||||
1.50%, 06/18/25 (Call 03/18/25)(a) | EUR | 100 | 96,547 | |||||
3.25%, 01/22/24(a) | EUR | 100 | 102,534 | |||||
Verallia SA, 1.63%, 05/14/28 (Call 02/14/28)(a) | EUR | 100 | 91,165 | |||||
4,761,118 | ||||||||
Germany — 9.7% | ||||||||
ADLER Group SA | ||||||||
1.50%, 07/26/24 (Call 04/26/24)(a) | EUR | 100 | 64,941 | |||||
1.88%, 01/14/26 (Call 10/14/25)(a) | EUR | 100 | 55,652 | |||||
ADLER Real Estate AG, 1.88%, 04/27/23 (Call 03/27/23)(a) | EUR | 100 | 87,976 | |||||
Bayer AG | ||||||||
2.38%, 11/12/79 (Call 02/12/25)(a)(b) | EUR | 100 | 94,108 | |||||
3.75%, 07/01/74 (Call 07/01/24)(a)(b) | EUR | 200 | 199,148 | |||||
Series N5.5, 4.50%, Series N5.5, 03/25/82 (Call 06/25/27)(a)(b) | EUR | 100 | 94,239 | |||||
Bertelsmann SE & Co. KGaA, 3.50%, 04/23/75 (Call 04/23/27)(a)(b) | EUR | 100 | 92,058 | |||||
Commerzbank AG | ||||||||
4.00%, 03/23/26(a) | EUR | 100 | 103,967 | |||||
4.00%, 03/30/27(a) | EUR | 100 | 104,411 | |||||
4.00%, 12/05/30 (Call 09/05/25)(a)(b) | EUR | 100 | 99,883 |
1
Schedule of Investments (unaudited) (continued) | iShares® International High Yield Bond ETF |
July 31, 2022 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Germany (continued) | ||||||||
Deutsche Bank AG | ||||||||
2.75%, 02/17/25(a) | EUR | 125 | $ | 128,534 | ||||
4.00%, 06/24/32 (Call 03/24/27)(a)(b) | EUR | 200 | 195,211 | |||||
4.50%, 05/19/26(a) | EUR | 100 | 105,074 | |||||
5.63%, 05/19/31 (Call 02/19/26)(a)(b) | EUR | 100 | 106,084 | |||||
Deutsche Lufthansa AG | ||||||||
3.00%, 05/29/26 (Call 03/02/26)(a) | EUR | 300 | 272,354 | |||||
3.50%, 07/14/29 (Call 04/14/29)(a) | EUR | 100 | 83,255 | |||||
Douglas GmbH, 6.00%, 04/08/26 (Call 04/15/23)(a) | EUR | 100 | 85,265 | |||||
Gruenenthal GMBH, 4.13%, 05/15/28 (Call 05/15/24)(a) | EUR | 0 | — | |||||
Nidda BondCo GmbH, 5.00%, 09/30/25 (Call 08/29/22)(a) | EUR | 100 | 86,480 | |||||
Nidda Healthcare Holding GmbH, 3.50%, 09/30/24 (Call 08/08/22)(a) | EUR | 100 | 94,961 | |||||
Schaeffler AG | ||||||||
1.88%, 03/26/24 (Call 12/26/23)(a) | EUR | 100 | 100,812 | |||||
2.75%, 10/12/25 (Call 07/12/25)(a) | EUR | 100 | 97,247 | |||||
2.88%, 03/26/27 (Call 12/26/26)(a) | EUR | 100 | 95,498 | |||||
Techem Verwaltungsgesellschaft 675 mbH, 2.00%, 07/15/25 (Call 08/29/22)(a) | EUR | 150 | 140,837 | |||||
thyssenkrupp AG, 2.88%, 02/22/24 (Call 11/22/23)(a) | EUR | 200 | 199,669 | |||||
TK Elevator Holdco GmbH, 6.63%, 07/15/28 (Call 07/15/23)(a) | EUR | 90 | 80,365 | |||||
TK Elevator Midco GmbH, 4.38%, 07/15/27 (Call 07/15/23)(a) | EUR | 100 | 93,441 | |||||
ZF Europe Finance BV | ||||||||
2.00%, 02/23/26 (Call 12/23/25)(a) | EUR | 100 | 90,961 | |||||
2.50%, 10/23/27 (Call 07/23/27)(a) | EUR | 100 | 87,045 | |||||
ZF Finance GmbH | ||||||||
2.00%, 05/06/27 (Call 02/06/27)(a) | EUR | 100 | 85,838 | |||||
3.75%, 09/21/28 (Call 06/21/28)(a) | EUR | 100 | 90,225 | |||||
3,315,539 | ||||||||
Greece — 0.8% | ||||||||
Alpha Bank SA, 2.50%, 03/23/28 (Call 03/23/27)(a)(b) | EUR | 100 | 82,146 | |||||
Piraeus Financial Holdings SA, 9.75%, 06/26/29 (Call 06/26/24)(a)(b) | EUR | 100 | 96,874 | |||||
Public Power Corp. SA, 3.88%, 03/30/26 (Call 03/30/23)(a) | EUR | 100 | 90,804 | |||||
269,824 | ||||||||
Ireland — 0.8% | ||||||||
AIB Group PLC, 2.88%, 05/30/31 (Call 05/30/26)(a)(b) | EUR | 100 | 96,303 | |||||
Bank of Ireland Group PLC, 1.38%, 08/11/31 (Call 05/11/26)(a)(b) | EUR | 100 | 90,331 | |||||
eircom Finance DAC, 3.50%, 05/15/26 (Call 08/29/22)(a) | EUR | 100 | 95,165 | |||||
281,799 | ||||||||
Israel — 1.9% | ||||||||
Teva Pharmaceutical Finance Netherlands II BV | ||||||||
1.13%, 10/15/24(a) | EUR | 100 | 96,437 | |||||
1.63%, 10/15/28(a) | EUR | 150 | 120,345 | |||||
3.75%, 05/09/27 (Call 02/09/27) | EUR | 150 | 142,065 | |||||
4.38%, 05/09/30 (Call 02/09/30) | EUR | 200 | 179,594 | |||||
4.50%, 03/01/25 (Call 12/01/24) | EUR | 100 | 101,817 | |||||
640,258 | ||||||||
Italy — 15.4% | ||||||||
Alpha Services and Holdings SA, 4.25%, 02/13/30 (Call 02/13/25)(a)(b) | EUR | 100 | 81,654 | |||||
Atlantia SpA | ||||||||
1.63%, 02/03/25(a) | EUR | 100 | 96,128 | |||||
1.88%, 07/13/27 (Call 04/13/27)(a) | EUR | 175 | 153,799 | |||||
1.88%, 02/12/28 (Call 11/12/27)(a) | EUR | 100 | 85,024 | |||||
Autostrade per l’Italia SpA | ||||||||
1.63%, 01/25/28 (Call 10/25/27)(a) | EUR | 100 | 90,105 | |||||
1.75%, 06/26/26(a) | EUR | 100 | 95,905 |
Security | Par (000) | Value | ||||||
Italy (continued) | ||||||||
1.88%, 09/26/29 (Call 06/26/29)(a) | EUR | 100 | $ | 85,944 | ||||
2.00%, 12/04/28 (Call 09/04/28)(a) | EUR | 100 | 88,805 | |||||
4.38%, 09/16/25(a) | EUR | 100 | 104,544 | |||||
Banca Monte dei Paschi di Siena SpA | ||||||||
3.63%, 09/24/24(a) | EUR | 200 | 181,552 | |||||
10.50%, 07/23/29(a) | EUR | 100 | 60,327 | |||||
Banca Popolare di Sondrio SCPA | ||||||||
2.38%, 04/03/24(a) | EUR | 100 | 100,807 | |||||
3.88%, 02/25/32 (Call 11/25/26)(a)(b) | EUR | 100 | 85,491 | |||||
Banco BPM SpA | ||||||||
0.88%, 07/15/26(a) | EUR | 100 | 91,445 | |||||
3.25%, 01/14/31 (Call 01/14/26)(a)(b) | EUR | 100 | 89,374 | |||||
4.25%, 10/01/29 (Call 10/01/24)(a)(b) | EUR | 100 | 95,867 | |||||
BPER Banca | ||||||||
1.88%, 07/07/25(a) | EUR | 100 | 96,692 | |||||
3.88%, 07/25/32 (Call 01/25/27)(a)(b) | EUR | 200 | 168,334 | |||||
Deutsche Lufthansa AG, 2.00%, 07/14/24 (Call 06/14/24)(a) | EUR | 100 | 97,307 | |||||
Esselunga SpA, 0.88%, 10/25/23 (Call 07/25/23)(a) | EUR | 100 | 100,960 | |||||
Gamma Bidco SpA, 5.13%, 07/15/25 (Call 08/08/22)(a) | EUR | 100 | 94,121 | |||||
Iccrea Banca SpA | ||||||||
2.13%, 01/17/27 (Call 01/17/26)(a)(b) | EUR | 100 | 94,841 | |||||
4.13%, 11/28/29 (Call 11/28/24)(a)(b) | EUR | 100 | 93,790 | |||||
IMA Industria Macchine Automatiche SpA, 3.75%, 01/15/28 (Call 01/15/23)(a) | EUR | 100 | 83,437 | |||||
Infrastrutture Wireless Italiane SpA | ||||||||
1.75%, 04/19/31 (Call 01/19/31)(a) | EUR | 100 | 84,578 | |||||
1.88%, 07/08/26 (Call 04/08/26)(a) | EUR | 150 | 144,359 | |||||
Intesa Sanpaolo SpA | ||||||||
3.93%, 09/15/26(a) | EUR | 175 | 180,473 | |||||
4.38%, 07/12/29 (Call 07/12/24)(a)(b) | EUR | 150 | 152,080 | |||||
5.88%, 03/04/29 (Call 03/04/24)(a)(b) | EUR | 150 | 156,225 | |||||
Leonardo SpA, 2.38%, 01/08/26 (Call 10/08/25)(a) | EUR | 100 | 100,254 | |||||
Mediobanca Banca di Credito Finanziario SpA, 3.75%, 06/16/26 | EUR | 75 | 76,610 | |||||
Nexi SpA | ||||||||
1.63%, 04/30/26 (Call 01/30/26)(a) | EUR | 100 | 92,372 | |||||
2.13%, 04/30/29 (Call 01/30/29)(a) | EUR | 150 | 123,836 | |||||
Rossini Sarl, 6.75%, 10/30/25 (Call 08/29/22)(a) | EUR | 100 | 102,424 | |||||
Saipem Finance International BV | ||||||||
2.63%, 01/07/25(a) | EUR | 100 | 93,215 | |||||
3.75%, 09/08/23(a) | EUR | 100 | 100,864 | |||||
Telecom Italia SpA/Milano | ||||||||
1.63%, 01/18/29 (Call 10/18/28)(a) | EUR | 100 | 75,119 | |||||
2.38%, 10/12/27 (Call 07/12/27)(a) | EUR | 100 | 86,312 | |||||
2.50%, 07/19/23(a) | EUR | 100 | 101,640 | |||||
2.88%, 01/28/26 (Call 10/28/25)(a) | EUR | 300 | 282,016 | |||||
3.63%, 01/19/24(a) | EUR | 100 | 101,982 | |||||
3.63%, 05/25/26(a) | EUR | 100 | 97,578 | |||||
4.00%, 04/11/24 (Call 01/11/24)(a) | EUR | 100 | 101,678 | |||||
UniCredit SpA | ||||||||
2.73%, 01/15/32 (Call 01/15/27)(a)(b) | EUR | 200 | 174,842 | |||||
4.88%, 02/20/29 (Call 02/20/24)(a)(b) | EUR | 200 | 204,195 | |||||
Webuild SpA, 1.75%, 10/26/24(a) | EUR | 250 | 236,660 | |||||
5,285,565 | ||||||||
Japan — 1.4% | ||||||||
SoftBank Group Corp. | ||||||||
2.13%, 07/06/24 (Call 04/06/24)(a) | EUR | 175 | 163,334 | |||||
2.88%, 01/06/27 (Call 10/06/26)(a) | EUR | 100 | 84,228 | |||||
3.38%, 07/06/29 (Call 04/06/29)(a) | EUR | 125 | 94,437 | |||||
3.88%, 07/06/32 (Call 04/06/32)(a) | EUR | 100 | 73,821 |
2
Schedule of Investments (unaudited) (continued) | iShares® International High Yield Bond ETF |
July 31, 2022 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Japan (continued) | ||||||||
4.00%, 09/19/29 (Call 06/21/29)(a) | EUR | 100 | $ | 77,829 | ||||
493,649 | ||||||||
Luxembourg — 3.8% | ||||||||
Altice Financing SA | ||||||||
2.25%, 01/15/25 (Call 08/29/22)(a) | EUR | 100 | 95,434 | |||||
4.25%, 08/15/29 (Call 08/15/24)(a) | EUR | 100 | 87,484 | |||||
Altice Finco SA, 4.75%, 01/15/28 (Call 10/15/22)(a) | EUR | 100 | 82,834 | |||||
Altice France Holding SA | ||||||||
4.00%, 02/15/28 (Call 02/15/23)(a) | EUR | 100 | 76,322 | |||||
8.00%, 05/15/27 (Call 08/08/22)(a) | EUR | 100 | 88,738 | |||||
Garfunkelux Holdco 3 SA, 6.75%, 11/01/25 (Call 11/01/22)(a) | EUR | 100 | 87,727 | |||||
INEOS Finance PLC | ||||||||
2.13%, 11/15/25 (Call 08/08/22)(a) | EUR | 100 | 94,441 | |||||
2.88%, 05/01/26 (Call 08/08/22)(a) | EUR | 175 | 165,166 | |||||
Matterhorn Telecom SA, 3.13%, 09/15/26 (Call 09/15/22)(a) | EUR | 100 | 93,304 | |||||
Mytilineos Financial Partners SA, 2.50%, 12/01/24 (Call 06/01/24)(a) | EUR | 100 | 96,154 | |||||
SIG Combibloc Purchase Co. Sarl, 2.13%, 06/18/25 (Call 03/18/25)(a) | EUR | 100 | 98,061 | |||||
Summer BC Holdco B Sarl, 5.75%, 10/31/26 (Call 10/31/22)(a) | EUR | 150 | 141,890 | |||||
Vivion Investments Sarl, 3.00%, 08/08/24(a) | EUR | 100 | 93,036 | |||||
1,300,591 | ||||||||
Netherlands — 3.1% | ||||||||
Lincoln Financing Sarl, 3.63%, 04/01/24 (Call 08/29/22)(a) | EUR | 200 | 200,295 | |||||
PPF Telecom Group BV | ||||||||
3.25%, 09/29/27 (Call 06/29/27)(a) | EUR | 100 | 90,722 | |||||
3.50%, 05/20/24 (Call 02/20/24)(a) | EUR | 100 | 100,918 | |||||
Q-Park Holding I BV, 2.00%, 03/01/27 (Call 03/01/23)(a) | EUR | 100 | 83,563 | |||||
Sigma Holdco BV, 5.75%, 05/15/26 (Call 08/08/22)(a) | EUR | 100 | 63,476 | |||||
SNS Bank NV, 6.25%, 10/26/20(e) | EUR | 50 | — | |||||
Trivium Packaging Finance BV, 3.75%, 08/15/26 (Call 08/29/22)(a) | EUR | 100 | 94,732 | |||||
United Group BV | ||||||||
3.63%, 02/15/28 (Call 02/15/23)(a) | EUR | 100 | 79,404 | |||||
4.88%, 07/01/24 (Call 08/29/22)(a) | EUR | 100 | 97,806 | |||||
5.25%, 02/01/30 (Call 02/01/25)(a) | EUR | 100 | 79,543 | |||||
UPC Holding BV, 3.88%, 06/15/29 (Call 08/29/22)(a) | EUR | 100 | 86,344 | |||||
WP/AP Telecom Holdings IV BV, 3.75%, 01/15/29 (Call 01/15/25)(a) | EUR | 100 | 90,859 | |||||
1,067,662 | ||||||||
Norway — 0.3% | ||||||||
Adevinta ASA, 2.63%, 11/15/25 (Call 11/15/22)(a) | EUR | 100 | 96,599 | |||||
Portugal — 1.1% | ||||||||
Banco Comercial Portugues SA, 4.00%, 05/17/32 (Call 11/17/26)(a)(b) | EUR | 100 | 79,141 | |||||
EDP - Energias de Portugal SA | ||||||||
1.70%, 07/20/80 (Call 04/20/25)(a)(b) | EUR | 100 | 91,893 | |||||
1.88%, 08/02/81 (Call 05/02/26)(a)(b) | EUR | 100 | 87,949 | |||||
4.50%, 04/30/79 (Call 01/30/24)(a)(b) | EUR | 100 | 101,811 | |||||
Novo Banco SA, 8.50%, 07/06/28 (Call 07/06/23)(a)(b) | EUR | 0 | — | |||||
360,794 | ||||||||
Spain — 7.0% | ||||||||
Banco de Credito Social Cooperativo SA, 1.75%, 03/09/28 (Call 03/09/27)(a)(b) | EUR | 100 | 81,777 | |||||
Banco de Sabadell SA | ||||||||
0.88%, 06/16/28 (Call 06/16/27)(a)(b) | EUR | 100 | 87,049 | |||||
2.63%, 03/24/26 (Call 03/24/25)(a)(b) | EUR | 100 | 98,873 | |||||
5.38%, 12/12/28 (Call 12/12/23)(a)(b) | EUR | 100 | 101,694 |
Security | Par (000) | Value | ||||||
Spain (continued) | ||||||||
Cellnex Finance Co. SA | ||||||||
0.75%, 11/15/26 (Call 08/15/26)(a) | EUR | 100 | $ | 91,663 | ||||
1.50%, 06/08/28 (Call 03/08/28)(a) | EUR | 100 | 88,267 | |||||
2.00%, 02/15/33 (Call 11/15/32)(a) | EUR | 100 | 78,221 | |||||
2.25%, 04/12/26 (Call 01/12/26)(a) | EUR | 100 | 99,412 | |||||
Cellnex Telecom SA | ||||||||
1.00%, 04/20/27 (Call 01/20/27)(a) | EUR | 100 | 90,057 | |||||
1.88%, 06/26/29 (Call 03/26/29) | EUR | 100 | 86,668 | |||||
2.38%, 01/16/24 (Call 10/16/23)(a) | EUR | 100 | 102,409 | |||||
Cirsa Finance International Sarl | ||||||||
4.50%, 03/15/27 (Call 09/15/23)(a) | EUR | 100 | 85,259 | |||||
6.25%, 12/20/23 (Call 08/08/22)(a) | EUR | 85 | 83,995 | |||||
ContourGlobal Power Holdings SA, 4.13%, 08/01/25 (Call 08/29/22)(a) | EUR | 100 | 98,318 | |||||
Grifols Escrow Issuer SA, 3.88%, 10/15/28 (Call 10/15/24)(a) | EUR | 150 | 133,092 | |||||
Grifols SA | ||||||||
1.63%, 02/15/25 (Call 08/29/22)(a) | EUR | 150 | 147,005 | |||||
3.20%, 05/01/25 (Call 08/29/22)(a) | EUR | 100 | 97,028 | |||||
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25)(a)(b) | EUR | 100 | 85,260 | |||||
International Consolidated Airlines Group SA, 2.75%, 03/25/25 (Call 12/25/24)(a) | EUR | 100 | 91,310 | |||||
Kaixo Bondco Telecom SA, 5.13%, 09/30/29 (Call 09/30/24)(a) | EUR | 100 | 87,732 | |||||
Loarre Investments Sarl, 6.50%, 05/15/29 (Call 05/15/25)(a) | EUR | 100 | 99,458 | |||||
Lorca Telecom Bondco SA, 4.00%, 09/18/27 (Call 09/30/23)(a) | EUR | 200 | 186,260 | |||||
Repsol International Finance BV, 4.50%, 03/25/75 (Call 03/25/25)(a)(b) | EUR | 100 | 101,849 | |||||
Unicaja Banco SA, 2.88%, 11/13/29 (Call 11/13/24)(a)(b) | EUR | 100 | 91,566 | |||||
2,394,222 | ||||||||
Sweden — 2.6% | ||||||||
CGG SA, 7.75%, 04/01/27 (Call 04/01/24)(a) | EUR | 100 | 90,424 | |||||
Intrum AB | ||||||||
3.00%, 09/15/27 (Call 09/15/22)(a) | EUR | 100 | 81,713 | |||||
3.13%, 07/15/24(a) | EUR | 100 | 98,025 | |||||
3.50%, 07/15/26 (Call 08/08/22)(a) | EUR | 175 | 153,101 | |||||
Verisure Holding AB, 3.25%, 02/15/27 (Call 02/15/23)(a) | EUR | 150 | 134,432 | |||||
Verisure Midholding AB, 5.25%, 02/15/29 (Call 02/15/24)(a) | EUR | 150 | 128,160 | |||||
Volvo Car AB | ||||||||
2.00%, 01/24/25 (Call 10/24/24)(a) | EUR | 100 | 98,405 | |||||
2.13%, 04/02/24 (Call 01/02/24)(a) | EUR | 100 | 101,065 | |||||
885,325 | ||||||||
Switzerland — 0.5% | ||||||||
Dufry One BV | ||||||||
2.50%, 10/15/24 (Call 08/29/22)(a) | EUR | 100 | 99,147 | |||||
3.38%, 04/15/28 (Call 04/15/24)(a) | EUR | 100 | 87,314 | |||||
186,461 | ||||||||
United Kingdom — 11.9% | ||||||||
BCP V Modular Services Finance II PLC | ||||||||
4.75%, 11/30/28 (Call 11/30/24)(a) | EUR | 100 | 84,913 | |||||
6.13%, 11/30/28 (Call 11/30/24)(a) | GBP | 100 | 97,599 | |||||
Bellis Acquisition Co. PLC | ||||||||
3.25%, 02/16/26 (Call 02/24/23)(a) | GBP | 100 | 98,640 | |||||
4.50%, 02/16/26 (Call 02/24/23)(a) | GBP | 100 | 100,675 | |||||
Bellis Finco PLC, 4.00%, 02/16/27 (Call 02/24/23)(a) | GBP | 100 | 83,441 | |||||
British Telecommunications PLC, 1.87%, 08/18/80 (Call 05/18/25)(a)(b) | EUR | 100 | 87,116 | |||||
Cidron Aida Finco Sarl, 5.00%, 04/01/28 (Call 04/01/24)(a) | EUR | 100 | 89,841 | |||||
Deuce Finco PLC, 5.50%, 06/15/27 (Call 06/15/23)(a) | GBP | 100 | 102,558 | |||||
eG Global Finance PLC, 4.38%, 02/07/25 (Call 08/30/22)(a) | EUR | 100 | 93,130 | |||||
Heathrow Finance PLC, 4.38%, 03/01/27(a)(g) | GBP | 100 | 101,843 |
3
Schedule of Investments (unaudited) (continued) | iShares® International High Yield Bond ETF |
July 31, 2022 | (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
United Kingdom (continued) | ||||||||
INEOS Styrolution Group GmbH, 2.25%, 01/16/27 (Call 01/15/23)(a) | EUR | 100 | $ | 83,368 | ||||
Jaguar Land Rover Automotive PLC | ||||||||
2.20%, 01/15/24(a) | EUR | 100 | 94,805 | |||||
4.50%, 01/15/26 (Call 10/15/25)(a) | EUR | 150 | 129,555 | |||||
4.50%, 07/15/28 (Call 07/15/24)(a) | EUR | 100 | 76,218 | |||||
Jerrold Finco PLC, 5.25%, 01/15/27 (Call 01/15/23)(a) | GBP | 100 | 107,005 | |||||
Market Bidco Finco PLC, 5.50%, 11/04/27 (Call 11/04/24)(a) | GBP | 100 | 100,773 | |||||
Marks & Spencer PLC, 6.00%, 06/12/25(a) | GBP | 100 | 119,055 | |||||
Motion Finco Sarl, 7.00%, 05/15/25 (Call 08/29/22)(a) | EUR | 100 | 98,795 | |||||
NGG Finance PLC | ||||||||
1.63%, 12/05/79 (Call 09/05/24)(a)(b) | EUR | 100 | 93,530 | |||||
2.13%, 09/05/82 (Call 06/05/27)(a) | EUR | 100 | 85,055 | |||||
5.63%, 06/18/73 (Call 06/18/25)(a)(b) | GBP | 100 | 116,436 | |||||
Pinewood Finance Co. Ltd., 3.63%, 11/15/27 (Call 11/15/23)(a) | GBP | 175 | 179,977 | |||||
Pinnacle Bidco PLC, 5.50%, 02/15/25 (Call 08/30/22)(a) | EUR | 100 | 95,782 | |||||
Rolls-Royce PLC | ||||||||
0.88%, 05/09/24 (Call 02/09/24)(a) | EUR | 100 | 97,746 | |||||
4.63%, 02/16/26 (Call 11/16/25)(a) | EUR | 100 | 99,425 | |||||
5.75%, 10/15/27 (Call 07/15/27)(a) | GBP | 100 | 114,431 | |||||
Sherwood Financing PLC, 4.50%, 11/15/26 (Call 11/15/23)(a) | EUR | 100 | 84,446 | |||||
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 07/31/25 (Call 08/30/22)(a) | GBP | 200 | 229,689 | |||||
Thames Water Utilities Finance PLC, 2.88%, 05/03/27(a) | GBP | 100 | 114,150 | |||||
Virgin Media Secured Finance PLC | ||||||||
4.13%, 08/15/30 (Call 08/15/25)(a) | GBP | 100 | 104,084 | |||||
4.25%, 01/15/30 (Call 10/15/24)(a) | GBP | 100 | 104,804 | |||||
5.00%, 04/15/27 (Call 08/08/22)(a) | GBP | 100 | 114,972 | |||||
Vmed O2 UK Financing I PLC | ||||||||
3.25%, 01/31/31 (Call 01/31/26)(a) | EUR | 100 | 86,769 | |||||
4.00%, 01/31/29 (Call 01/31/24)(a) | GBP | 100 | 106,160 | |||||
4.50%, 07/15/31 (Call 07/15/26)(a) | GBP | 100 | 105,122 | |||||
Vodafone Group PLC | ||||||||
2.63%, 08/27/80 (Call 05/27/26)(a)(b) | EUR | 200 | 188,044 | |||||
3.10%, 01/03/79 (Call 10/03/23)(a)(b) | EUR | 200 | 199,260 | |||||
4,069,212 | ||||||||
United States — 17.6% | ||||||||
Adient Global Holdings Ltd., 3.50%, 08/15/24 (Call 05/15/24)(a) | EUR | 111 | 107,991 | |||||
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl, 3.63%, 06/01/28 (Call 06/01/24)(a) | EUR | 100 | 84,568 | |||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 2.00%, 09/01/28 (Call 05/15/24)(a) | EUR | 100 | 89,131 | |||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., 2.13%, 08/15/26 (Call 08/29/22)(a) | EUR | 100 | 86,298 | |||||
Ashland Services BV, 2.00%, 01/30/28 (Call 11/01/27)(a) | EUR | 100 | 87,330 | |||||
Autostrade per l’Italia SpA, 2.00%, 01/15/30 (Call 10/15/29)(a) | EUR | 200 | 171,315 | |||||
Avantor Funding Inc., 2.63%, 11/01/25 (Call 11/01/22)(a) | EUR | 100 | 100,046 | |||||
Avis Budget Finance PLC, 4.13%, 11/15/24 (Call 08/30/22)(a) | EUR | 100 | 99,178 | |||||
Axalta Coating Systems Dutch Holding B BV, 3.75%, 01/15/25 (Call 08/08/22)(a) | EUR | 100 | 95,614 | |||||
Ball Corp. | ||||||||
0.88%, 03/15/24 (Call 12/15/23) | EUR | 100 | 100,028 | |||||
4.38%, 12/15/23 | EUR | 100 | 104,837 | |||||
Banco BPM SpA, 1.75%, 01/28/25(a) | EUR | 100 | 97,458 | |||||
Banco Comercial Portugues SA, 1.75%, 04/07/28 (Call 04/07/27)(a)(b) | EUR | 100 | 80,177 | |||||
Banco de Sabadell SA, 1.13%, 03/27/25(a) | EUR | 100 | 96,161 | |||||
Bayer AG, 5.38%, 03/25/82 (Call 06/25/30)(a)(b) | EUR | 100 | 94,471 | |||||
Belden Inc., 3.88%, 03/15/28 (Call 03/15/23)(a) | EUR | 150 | 142,297 |
Security | Par (000) | Value | ||||||
United States (continued) | ||||||||
Boxer Parent Co. Inc., 6.50%, 10/02/25 (Call 08/29/22)(a) | EUR | 100 | $ | 98,768 | ||||
Carnival PLC, 1.00%, 10/28/29 (Call 07/28/29) | EUR | 100 | 57,948 | |||||
Catalent Pharma Solutions Inc., 2.38%, 03/01/28 (Call 03/01/23)(a) | EUR | 150 | 133,369 | |||||
Cheplapharm Arzneimittel GmbH, 4.38%, 01/15/28 (Call 01/15/24)(a) | EUR | 150 | 136,916 | |||||
Constellium SE, 3.13%, 07/15/29 (Call 07/15/24)(a) | EUR | 100 | 80,093 | |||||
Coty Inc., 3.88%, 04/15/26 (Call 04/15/23)(a) | EUR | 100 | 97,543 | |||||
Crown European Holdings SA, 2.88%, 02/01/26 (Call 08/01/25)(a) | EUR | 100 | 97,506 | |||||
Darling Global Finance BV, 3.63%, 05/15/26 (Call 08/08/22)(a) | EUR | 100 | 96,553 | |||||
Deutsche Lufthansa AG, 2.88%, 02/11/25 (Call 01/11/25)(a) | EUR | 200 | 192,464 | |||||
Encore Capital Group Inc., 5.38%, 02/15/26 (Call 11/15/22)(a) | GBP | 100 | 114,209 | |||||
Faurecia SE, 2.38%, 06/15/27 (Call 06/15/23)(a) | EUR | 100 | 83,780 | |||||
Ford Credit Canada Co, 2.96%, 09/16/26 (Call 08/16/26) | CAD | 100 | 68,007 | |||||
Ford Credit Canada Co. | ||||||||
3.50%, 11/30/23 | CAD | 50 | 37,861 | |||||
4.46%, 11/13/24 | CAD | 50 | 37,784 | |||||
Ford Motor Credit Co. LLC | ||||||||
1.36%, 02/07/25 | EUR | 100 | 95,667 | |||||
1.74%, 07/19/24 | EUR | 100 | 98,555 | |||||
2.39%, 02/17/26 | EUR | 125 | 119,556 | |||||
2.75%, 06/14/24 | GBP | 100 | 114,254 | |||||
3.02%, 03/06/24 | EUR | 100 | 101,747 | |||||
3.25%, 09/15/25 | EUR | 100 | 99,665 | |||||
Hanesbrands Finance Luxembourg SCA, 3.50%, 06/15/24 (Call 03/15/24)(a) | EUR | 100 | 95,763 | |||||
INEOS Quattro Finance 2 PLC, 2.50%, 01/15/26 (Call 01/15/23)(a) | EUR | 100 | 91,909 | |||||
International Game Technology PLC, 3.50%, 06/15/26 (Call 08/30/22)(a) | EUR | 150 | 145,885 | |||||
IQVIA Inc. | ||||||||
1.75%, 03/15/26 (Call 03/15/23)(a) | EUR | 100 | 96,103 | |||||
2.25%, 01/15/28 (Call 08/29/22)(a) | EUR | 150 | 138,397 | |||||
2.25%, 03/15/29 (Call 03/15/24)(a) | EUR | 100 | 88,577 | |||||
Iron Mountain UK PLC, 3.88%, 11/15/25 (Call 08/08/22)(a) | GBP | 100 | 108,917 | |||||
Levi Strauss & Co., 3.38%, 03/15/27 (Call 08/08/22) | EUR | 100 | 98,131 | |||||
MPT Operating Partnership LP/MPT Finance Corp. | ||||||||
2.50%, 03/24/26 (Call 02/24/26) | GBP | 200 | 216,306 | |||||
3.38%, 04/24/30 (Call 01/24/30) | GBP | 100 | 98,840 | |||||
National Bank of Greece SA, 2.75%, 10/08/26 (Call 10/08/25)(a)(b) | EUR | 100 | 91,079 | |||||
Nexi SpA, 1.75%, 10/31/24 (Call 07/31/24)(a) | EUR | 100 | 97,170 | |||||
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29 (Call 04/15/24)(a) | EUR | 100 | 85,416 | |||||
OI European Group BV, 3.13%, 11/15/24 (Call 08/15/24)(a) | EUR | 100 | 96,669 | |||||
Olympus Water U.S. Holding Corp., 3.88%, 10/01/28 (Call 10/01/24)(a) | EUR | 100 | 82,646 | |||||
Organon & Co./Organon Foreign Debt Co-Issuer BV., 2.88%, 04/30/28 (Call 04/30/24)(a) | EUR | 100 | 92,870 | |||||
Sealed Air Corp., 4.50%, 09/15/23 (Call 06/15/23)(a) | EUR | 100 | 103,470 | |||||
Silgan Holdings Inc., 3.25%, 03/15/25 (Call 08/29/22) | EUR | 100 | 100,118 | |||||
Standard Industries Inc./NJ, 2.25%, 11/21/26 (Call 08/21/26)(a) | EUR | 100 | 85,575 | |||||
Vodafone Group PLC, 3.00%, 08/27/80 (Call 05/27/30)(a)(b) | EUR | 150 | 126,451 | |||||
WMG Acquisition Corp., 2.25%, 08/15/31 (Call 08/15/26)(a) | EUR | 100 | 83,212 | |||||
ZF Europe Finance BV, 3.00%, 10/23/29 (Call 07/23/29)(a) | EUR | 100 | 84,155 | |||||
Ziggo Bond Co. BV, 3.38%, 02/28/30 (Call 02/15/25)(a) | EUR | 150 | 118,913 | |||||
6,025,717 | ||||||||
Total Corporate Bonds & Notes — 98.1% | ||||||||
(Cost: $42,370,467) | 33,565,324 |
4
Schedule of Investments (unaudited) (continued) | iShares® International High Yield Bond ETF |
July 31, 2022 | (Percentages shown are based on Net Assets) |
Security | Shares (000) | Value | ||||||
Common Stocks | ||||||||
South Africa — 0.0% | ||||||||
Sentry Holdings Ltd. Class A | 0 | (h) | $ | — | ||||
Total Common Stocks — 0.0% | ||||||||
(Cost: $159,437) | — | |||||||
Total Long-Term Investments — 98.1% | ||||||||
(Cost: $42,529,904) | 33,565,324 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 0.0% | ||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.81%(i)(j) | 10 | 10,000 | ||||||
Total Short-Term Securities — 0.0% | ||||||||
(Cost: $10,000) | 10,000 | |||||||
Total Investments in Securities — 98.1% | ||||||||
(Cost: $42,539,904) | 33,575,324 | |||||||
Other Assets Less Liabilities — 1.9% | 646,989 | |||||||
Net Assets — 100.0% | $ | 34,222,313 |
(a) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(b) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(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) | Issuer filed for bankruptcy and/or is in default. |
(e) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(f) | Non-income producing security. |
(g) | Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
(h) | Rounds to less than 1,000. |
(i) | Affiliate of the Fund. |
(j) | Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 10/31/21 | Purchases at Cost | Proceeds from Sale | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 07/31/22 | Shares Held at 07/31/22 (000) | Income | Capital Gain Distributions from Underlying Funds | ||||||||||||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares | $ | 20,000 | $ | — | $ | (10,000 | )(a) | $ | — | $ | — | $ | 10,000 | 10 | $ | 16 | $ | — |
(a) | Represents net amount purchased (sold). |
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 BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
5
Schedule of Investments (unaudited) (continued) | iShares® International High Yield Bond ETF |
July 31, 2022 |
Fair Value Hierarchy as of Period End (continued)
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments | ||||||||||||||||
Assets | ||||||||||||||||
Corporate Bonds & Notes | $ | — | $ | 33,565,324 | $ | — | $ | 33,565,324 | ||||||||
Common Stocks | — | — | — | — | ||||||||||||
Money Market Funds | 10,000 | — | — | 10,000 | ||||||||||||
$ | 10,000 | $ | 33,565,324 | $ | — | $ | 33,575,324 | |||||||||
Portfolio Abbreviations - Fixed Income
CAB | Capital Appreciation Bonds |
Currency Abbreviations
CAD | Canadian Dollar |
EUR | Euro |
GBP | British Pound |
6