# EDGAR Filing Document

**Accession Number:** 0000930667
**File Stem:** 0001410368-26-006939
**Filing Date:** 2026-1
**Character Count:** 27482
**Document Hash:** bcdcc8c99e9cc372ee968f6abb24e53f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-006939.hdr.sgml**: 20260123

**ACCESSION NUMBER**: 0001410368-26-006939

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260123

**DATE AS OF CHANGE**: 20260123

**PERIOD START**: 20260831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iShares, Inc.
- **CENTRAL INDEX KEY:** 0000930667

**ORGANIZATION NAME:**
- **EIN:** 510396525
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09102
- **FILM NUMBER:** 26557033

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** (415) 670-2000

**MAIL ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** iSHARES INC
- **DATE OF NAME CHANGE:** 20070126

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ISHARES INC
- **DATE OF NAME CHANGE:** 20000516

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WEBS INDEX FUND INC
- **DATE OF NAME CHANGE:** 19970211

## Series and Classes Contracts Data

### iShares MSCI Spain ETF (Series ID: S000004256)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000011960 | iShares MSCI Spain ETF | EWP             |

## Nport-Ex

Schedule of Investments (unaudited)

November 30, 2025

**iShares® MSCI Spain ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Banks — 41.6%** | **Banks — 41.6%** | **Banks — 41.6%** |
| Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;&nbsp; 9695971 | $209565131 |
| Banco de Sabadell SA | &nbsp;&nbsp;&nbsp; 16691868 | 60677406 |
| Banco Santander SA | &nbsp;&nbsp;&nbsp; 26610808 | 285451323 |
| Bankinter SA | &nbsp;&nbsp;&nbsp; 2412636 | 38034283 |
| CaixaBank SA | &nbsp;&nbsp;&nbsp; 6566183 | 73320580 |
|  |  | 667048723 |
| **Biotechnology — 1.7%** | **Biotechnology — 1.7%** | **Biotechnology — 1.7%** |
| Grifols SA | &nbsp;&nbsp;&nbsp; 2254408 | 27592606 |
| **Construction & Engineering — 8.3%** | **Construction & Engineering — 8.3%** | **Construction & Engineering — 8.3%** |
| ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;&nbsp; 636808 | 58939090 |
| Ferrovial SE | &nbsp;&nbsp;&nbsp; 1136826 | 74557796 |
|  |  | 133496886 |
| **Diversified Telecommunication Services — 5.9%** | **Diversified Telecommunication Services — 5.9%** | **Diversified Telecommunication Services — 5.9%** |
| Cellnex Telecom SA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1509184 | 45324136 |
| Telefonica SA | &nbsp;&nbsp;&nbsp; 11268832 | 48863162 |
|  |  | 94187298 |
| **Electric Utilities — 20.5%** | **Electric Utilities — 20.5%** | **Electric Utilities — 20.5%** |
| Acciona SA | &nbsp;&nbsp;&nbsp; 154723 | 31102903 |
| Endesa SA | &nbsp;&nbsp;&nbsp; 1239229 | 44949981 |
| Iberdrola SA | &nbsp;&nbsp;&nbsp; 10795858 | 227877488 |
| Redeia Corp. SA | &nbsp;&nbsp;&nbsp; 1372017 | 24499171 |
|  |  | 328429543 |
| **Gas Utilities — 1.1%** | **Gas Utilities — 1.1%** | **Gas Utilities — 1.1%** |
| Naturgy Energy Group SA | &nbsp;&nbsp;&nbsp; 574159 | 17668296 |
| **Hotels, Restaurants & Leisure — 4.3%** | **Hotels, Restaurants & Leisure — 4.3%** | **Hotels, Restaurants & Leisure — 4.3%** |
| Amadeus IT Group SA | &nbsp;&nbsp;&nbsp; 926762 | 68203732 |
| **Insurance — 1.4%** | **Insurance — 1.4%** | **Insurance — 1.4%** |
| Mapfre SA | &nbsp;&nbsp;&nbsp; 4684805 | 21694775 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Oil, Gas & Consumable Fuels — 4.2%** | **Oil, Gas & Consumable Fuels — 4.2%** | **Oil, Gas & Consumable Fuels — 4.2%** |
| Repsol SA | &nbsp;&nbsp;&nbsp; 3634663 | $67347966 |
| **Passenger Airlines — 1.8%** | **Passenger Airlines — 1.8%** | **Passenger Airlines — 1.8%** |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group SA, <br> Class DI<br>| &nbsp;&nbsp;&nbsp; 5461002 | 28723500 |
| **Specialty Retail — 4.4%** | **Specialty Retail — 4.4%** | **Specialty Retail — 4.4%** |
| Industria de Diseno Textil SA | &nbsp;&nbsp;&nbsp; 1265680 | 71011349 |
| **Transportation Infrastructure — 3.6%** | **Transportation Infrastructure — 3.6%** | **Transportation Infrastructure — 3.6%** |
| Aena SME SA<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2145372 | 58428997 |
| **Total Long-Term Investments — 98.8%** <br>**(Cost: $1,117,646,081)** | **Total Long-Term Investments — 98.8%** <br>**(Cost: $1,117,646,081)** | 1583833671 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.0%** | **Money Market Funds — 0.0%** | **Money Market Funds — 0.0%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 3.94%<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 510000 | 510000 |
| **Total Short-Term Securities — 0.0%** <br>**(Cost: $510,000)** | **Total Short-Term Securities — 0.0%** <br>**(Cost: $510,000)** | 510000 |
| **Total Investments — 98.8%** <br>**(Cost: $1,118,156,081)** | **Total Investments — 98.8%** <br>**(Cost: $1,118,156,081)** | 1584343671 |
| **Other Assets Less Liabilities — 1.2%** | **Other Assets Less Liabilities — 1.2%** | 19200546 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1603544217 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> 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. 

<sup>(b)</sup> Affiliate of the Fund.

<sup>(c)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended November 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*08/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*11/30/25*<br>| *Shares* <br>*Held at* <br>*11/30/25*<br>| *Income* | &nbsp;&nbsp; *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency Shares<sup>(a)</sup> | $— | $— | &nbsp;&nbsp; $(40 )<sup>(b)</sup><br>| $40 | $— | $— |  | $131 <br><sup>(c)</sup><br>| $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 430000 | 80000 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 510000 | 510000 | &nbsp;&nbsp; 5894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  | $40 | $— | $510000 |  | $6025 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> As of period end, the entity is no longer held.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of collateral investment fees, and other payments to and from borrowers of securities. 

------

Schedule of Investments (unaudited)(continued)

November 30, 2025

**iShares® MSCI Spain ETF**

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | &nbsp;&nbsp; *Number of* <br>*Contracts*<br>| &nbsp;&nbsp; *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| &nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp; IBEX 35 Index | 31 | 12/19/25 | &nbsp;&nbsp; $5898 | $125646 |

---

**Equity Swap Contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Entity* | *Counterparty* | *Notional Amount* | &nbsp;&nbsp; *Termination* <br>*Date*<br>| *Spread* | *Reference Rate* | &nbsp;&nbsp; *Payment* <br>*Frequency*<br>| *Value/ Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> |
| Naturgy Energy Group SA | BNP Paribas | &nbsp;&nbsp; $6873816 | 08/16/27 | 0.26% | 1D ESTR | Monthly | &nbsp;&nbsp; $35098 |
| Naturgy Energy Group SA | &nbsp;&nbsp; JPMorgan Chase Bank <br> N.A. | &nbsp;&nbsp; 729860 | 02/10/26 | 0.40% | 1D ESTR | Monthly | &nbsp;&nbsp; 1448 |
| Redeia Corp. SA | BNP Paribas | &nbsp;&nbsp; 1429313 | 08/16/27 | 0.26% | 1D ESTR | Monthly | &nbsp;&nbsp; 29263 |
| Redeia Corp. SA | &nbsp;&nbsp; Goldman Sachs Bank <br> USA | &nbsp;&nbsp; 1448981 | 08/19/26 | 0.45% | 1D ESTR | Monthly | &nbsp;&nbsp; 29665 |
| Redeia Corp. SA | HSBC Bank PLC | &nbsp;&nbsp; 1465840 | 02/10/28 | 0.45% | 1D ESTR | Monthly | &nbsp;&nbsp; 10431 |
| Redeia Corp. SA | Merrill Lynch International | &nbsp;&nbsp; 882737 | 02/15/28 | 0.45% | 1D ESTR | Monthly | &nbsp;&nbsp; 9169 |
| Total long positions of equity swaps | Total long positions of equity swaps | Total long positions of equity swaps |  |  |  |  | 115074 |
| Net dividends and financing fees | Net dividends and financing fees | Net dividends and financing fees |  |  |  |  | &nbsp;&nbsp; (15702)<br>|
| Total equity swap contracts including dividends and financing fees | Total equity swap contracts including dividends and financing fees | Total equity swap contracts including dividends and financing fees |  |  |  |  | &nbsp;&nbsp; $99372 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund receives the total return on a reference entity and pays a variable rate of interest, based on a specified benchmark. The benchmark and spread are determined based upon the country and/or currency of the individual underlying position. 

**Fair Value Hierarchy as of Period End** 

Various inputs are used in determining the fair value of financial instruments at the measurement date. 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 that the Fund has the ability to access for identical assets or liabilities;

• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (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 that may not have a secondary market and/or may have 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  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; $62618277 | &nbsp;&nbsp; $1521215394 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1583833671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 510000 |
|  | &nbsp;&nbsp; $63128277 | &nbsp;&nbsp; $1521215394 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1584343671 |

---

------

Schedule of Investments (unaudited)(continued)

November 30, 2025

**iShares® MSCI Spain ETF**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $240720 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $240720 |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (15702)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (15702)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $225018 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $225018 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are swaps and futures contracts. Swaps and futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| 1D ESTR | EUR - 1D Euro Short Term Rate |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** iShares, Inc.

- **b. Investment Company Act file number:** 811-09102

- **c. CIK number of Registrant:** 0000930667

- **d. LEI of Registrant:** 549300MGJZCNMJLBAJ67

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 400 HOWARD STREET

  - **City:** SAN FRANCISCO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 800-474-2737

**Item A.2. Information about the Series.**

- **a. Name of Series:** iShares MSCI Spain ETF

- **b. EDGAR series identifier (if any):** S000004256

- **c. LEI of Series:** 549300KJYAHQCJB4CU67

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1561961617.93

**Total Liabilities:** $881608.13

**Net Assets:** $1561080009.80

**Cash Not Reported:** $16788221.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000011960 | 3.83%                | 1.20%                | 2.75%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5994.26                 | $52597044.28                               |
| Month 2  | $9669959.60              | $3967172.04                                |
| Month 3  | $-1645982.92             | $36373553.04                               |

### Schedule of Portfolio Investments

| Name                                           | Title                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Endesa SA                                      | Endesa SA                                        | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |   1206383 | NS      | $43758573.63  | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Bankinter SA                                   | Bankinter SA                                     | CUSIP: 000000000<br>LEI: VWMYAEQSTOPNV0SUGU82 | Long             | EC               | CORP              | ES        |   2348693 | NS      | $37026246.11  | 2.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA             | Banco Bilbao Vizcaya Argentaria SA               | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |   9438978 | NS      | $204010579.64 | 13.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Acciona SA                                     | Acciona SA                                       | CUSIP: 000000000<br>LEI: 54930002KP75TLLLNO21 | Long             | EC               | CORP              | ES        |    150631 | NS      | $30280316.73  | 1.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Naturgy Energy Group SA                        | Naturgy Energy Group SA                          | CUSIP: 000000000<br>LEI: TL2N6M87CW970S5SV098 | Long             | EC               | CORP              | ES        |    574159 | NS      | $17668296.20  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Repsol SA                                      | Repsol SA                                        | CUSIP: 000000000<br>LEI: BSYCX13Y0NOTV14V9N85 | Long             | EC               | CORP              | ES        |   3538325 | NS      | $65562884.54  | 4.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA                             | Banco Santander SA                               | CUSIP: 000000000<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |  25905466 | NS      | $277885194.07 | 17.80%            |  |  |  | No            |                  2 | On Loan: No      |
| Telefonica SA                                  | Telefonica SA                                    | CUSIP: 000000000<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |  10970149 | NS      | $47568032.16  | 3.05%             |  |  |  | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | BlackRock Cash Funds: Treasury, SL Agency Shares | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |    510000 | NS      | $510000.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil SA                  | Industria de Diseno Textil SA                    | CUSIP: 000000000<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |   1232141 | NS      | $69129634.03  | 4.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrovial SE                                   | Ferrovial SE                                     | CUSIP: 000000000<br>LEI: 72450022R2ZFL41Y6I04 | Long             | EC               | CORP              | NL        |   1106697 | NS      | $72581810.66  | 4.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Aena SME SA                                    | Aena SME SA                                      | CUSIP: 000000000<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |   2088513 | NS      | $56880447.71  | 3.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Meff Financial Derivatives                     | IBEX 35 INDX FUTR DEC25                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | ES        |        26 | NC      | $124434.43    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ACS Actividades de Construccion y Servicios SA | ACS Actividades de Construccion y Servicios SA   | CUSIP: 000000000<br>LEI: 95980020140005558665 | Long             | EC               | CORP              | ES        |    619934 | NS      | $57377334.62  | 3.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Mapfre SA                                      | Mapfre SA                                        | CUSIP: 000000000<br>LEI: 95980020140005693107 | Long             | EC               | CORP              | ES        |   4560637 | NS      | $21119767.64  | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco de Sabadell SA                           | Banco de Sabadell SA                             | CUSIP: 000000000<br>LEI: SI5RG2M0WQQLZCXKRM20 | Long             | EC               | CORP              | ES        |  16249437 | NS      | $59069103.46  | 3.78%             |  |  |  | No            |                  2 | On Loan: No      |
| CaixaBank SA                                   | CaixaBank SA                                     | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | EC               | CORP              | ES        |   6392141 | NS      | $71377158.63  | 4.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola SA                                   | Iberdrola SA                                     | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |  10509704 | NS      | $221837388.49 | 14.21%            |  |  |  | No            |                  2 | On Loan: No      |
| Amadeus IT Group SA                            | Amadeus IT Group SA                              | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |    902199 | NS      | $66396052.62  | 4.25%             |  |  |  | No            |                  2 | On Loan: No      |
| International Consolidated Airlines Group SA   | International Consolidated Airlines Group SA     | CUSIP: 000000000<br>LEI: 959800TZHQRUSH1ESL13 | Long             | EC               | CORP              | ES        |   5316253 | NS      | $27962156.24  | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Redeia Corp SA                                 | Redeia Corp SA                                   | CUSIP: 000000000<br>LEI: 5493009HMD0C90GUV498 | Long             | EC               | CORP              | ES        |   1372017 | NS      | $24499170.96  | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA                             | Cellnex Telecom SA                               | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |   1469188 | NS      | $44122967.88  | 2.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Grifols SA                                     | Grifols SA                                       | CUSIP: 000000000<br>LEI: 959800HSSNXWRKBK4N60 | Long             | EC               | CORP              | ES        |   2194656 | NS      | $26861277.55  | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                         | NATURGY ENERGY GROUP SA                          | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | ES        |     23765 | OU      | $731307.98    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas                                    | NATURGY ENERGY GROUP SA                          | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DE               |  | ES        |    224516 | OU      | $6908914.06   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                         | RED ELECTRICA SA                                 | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DE               |  | ES        |     82808 | OU      | $1478645.93   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                  | RED ELECTRICA SA                                 | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DE               |  | ES        |     82675 | OU      | $1476271.04   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch International                    | REDEIA CORPORACION SA                            | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               |  | ES        |     49949 | OU      | $891905.20    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas                                    | REDEIA CORPORACION SA                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DE               |  | ES        |     81684 | OU      | $1458575.43   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

**Name of Applicant:** iShares, Inc.

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer