# EDGAR Filing Document

**Accession Number:** 0000930667
**File Stem:** 0001752724-23-012245
**Filing Date:** 2023-1
**Character Count:** 26110
**Document Hash:** 0117d1fdb7b49d864e388ac13a0c91a2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-012245.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001752724-23-012245

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iShares, Inc.
- **CENTRAL INDEX KEY:** 0000930667
- **IRS NUMBER:** 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:** 23551394

**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) | **iShares<sup>®</sup> MSCI Spain ETF** |
| November 30, 2022 | **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *Value* |
| **Common Stocks** |  |  |  |
| **Banks — 30.3%** |  |  |  |
| Banco Bilbao Vizcaya Argentaria SA | 9252482 | $| 54525264 |
| Banco Santander SA | 25268933 |  | 75398309 |
| CaixaBank SA | 6156371 |  | 22888269 |
|  |  |  | 152811842 |
| **Biotechnology — 1.5%** |  |  |  |
| Grifols SA<sup>(a)</sup> | 686936 |  | 7359810 |
| **Construction & Engineering — 7.1%** |  |  |  |
| ACS Actividades de Construccion y Servicios SA | 484639 |  | 13755224 |
| Ferrovial SA | 808589 |  | 21744820 |
|  |  |  | 35500044 |
| **Diversified Telecommunication Services — 8.7%** |  |  |  |
| Cellnex Telecom SA<sup>(b)</sup> | 627459 |  | 21577385 |
| Telefonica SA | 5906013 |  | 22045239 |
|  |  |  | 43622624 |
| **Electric Utilities — 26.9%** |  |  |  |
| Acciona SA | 52079 |  | 10186930 |
| Endesa SA | 702460 |  | 12998857 |
| Iberdrola SA | 8768743 |  | 99064128 |
| Red Electrica Corp. SA | 747742 |  | 13091796 |
|  |  |  | 135341711 |
| **Electrical Equipment — 2.2%** |  |  |  |
| Siemens Gamesa Renewable Energy SA<sup>(a)</sup> | 596913 |  | 11247987 |
| **Gas Utilities — 4.0%** |  |  |  |
| Enagas SA | 530048 |  | 9574051 |
| Naturgy Energy Group SA<sup>(c)</sup> | 380323 |  | 10693240 |
|  |  |  | 20267291 |
| **Independent Power and Renewable Electricity Producers — 1.0%** | **Independent Power and Renewable Electricity Producers — 1.0%** | **Independent Power and Renewable Electricity Producers — 1.0%** | **Independent Power and Renewable Electricity Producers — 1.0%** |
| Corp. ACCIONA Energias Renovables SA | 133475 |  | 5258530 |
| **IT Services — 4.5%** |  |  |  |
| Amadeus IT Group SA<sup>(a)</sup> | 420873 |  | 22755553 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Oil, Gas & Consumable Fuels — 4.7%** |  |  |
| Repsol SA | 1515998 | $23407497 |
| **Specialty Retail — 4.5%** |  |  |
| Industria de Diseno Textil SA | 867048 | 22633245 |
| **Transportation Infrastructure — 3.6%** |  |  |
| Aena SME SA<sup>(a)(b)</sup> | 140688 | 18153462 |
| **Total Long-Term Investments — 99.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $657,083,472)** |  | 498359596 |
| **Short-Term Securities** |  |  |
| **Money Market Funds — 0.6%** |  |  |
| BlackRock Cash Funds: Institutional, SL Agency Shares, 4.06%<sup>(d)(e)(f)</sup> | 28834 | 28837 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, 3.64%<sup>(d)(e)</sup> | 3020000 | 3020000 |
| **Total Short-Term Securities — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $3,048,829)** |  | 3048837 |
| **Total Investments — 99.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $660,132,301)** |  | 501408433 |
| **Other Assets Less Liabilities — 0.4%** |  | 2261723 |
| **Net Assets — 100.0%** |  | $503670156 |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</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>(c)</sup> All or a portion of this security is on loan.

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

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

<sup>(f)</sup> 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 November 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at <br> 08/31/22* | *Purchases <br> at Cost* | *Proceeds <br> from Sale* | *Net Realized <br> Gain (Loss)* | *Change in <br> Unrealized <br> Appreciation <br> (Depreciation)* | *Value at <br> 11/30/22* | *Shares <br> Held at <br> 11/30/22* | *Income* | *Capital <br> Gain <br> Distributions <br> from <br> Underlying <br> Funds* |
| BlackRock Cash Funds: Institutional, SL Agency Shares | $786458 | $— | $(757587)<sup>(a)</sup> | $134 | $(168) | $28837 | 28834 | $193 <sup>(b)</sup> | $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 2900000 | 120000 <sup>(a)</sup> |  |  |  | 3020000 | 3020000 | 22679 |  |
|  |  |  |  | $134 | $(168) | $3048837 |  | $22872 | $— |

---

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

<sup>(b)</sup> 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.

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> MSCI Spain ETF** |
| November 30, 2022 |  |

---

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

**Futures Contracts**

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of <br> Contracts* | *Expiration <br> Date* | *Notional <br> Amount <br> (000)* | *Value/<br> Unrealized <br> Appreciation <br> (Depreciation)* |
| Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;IBEX 35 Index | 24 | 12/16/22 | $2101 | $59898 |

---

**OTC Total Return Swaps**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Entity* | *Payment <br> Frequency* | *Counterparty<sup>(a)</sup>* | *Termination <br> Date* | *Net Notional* | *Accrued <br> Unrealized <br> Appreciation <br> (Depreciation)* | *Net Value of <br> Reference <br> Entity* | *Gross <br> Notional <br> Amount <br> Net Asset <br> Percentage* |
| Equity Securities Long | Monthly | Goldman Sachs Bank USA<sup>(b)</sup> | 02/27/23 | $886376 | $(21073)<sup>(c)</sup> | $865619 | 0.2% |
|  | Monthly | HSBC Bank PLC<sup>(d)</sup> | 02/10/23 | 346 | 32 <sup>(e)</sup> | 354 | 0.0 |
|  | Monthly | JPMorgan Chase Bank NA<sup>(f)</sup> | 02/08/23 | 2115431 | 73363 <sup>(g)</sup> | 2164421 | 0.4 |
|  |  |  |  |  | $52322 | $3030394 |  |

---

<sup>(a)</sup> The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives 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 positions.

<sup>(c)</sup> Amount includes $(316) of net dividends and financing fees.

<sup>(e)</sup> Amount includes $24 of net dividends, payable for referenced securities purchased and financing fees.

<sup>(g)</sup> Amount includes $24,373 of net dividends, payable for referenced securities purchased and financing fees.

The following are the specified benchmarks (plus or minus a range) used in determining the variable rate of interest:

(b) (d) (f) <br> Range: 45 basis points 45 basis points 40 basis points <br> Benchmarks: EUR - 1D Euro Short Term Rate (ESTR) EUR - 1D Euro Short Term Rate (ESTR) EUR - 1D Euro Short Term Rate (ESTR)

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> MSCI Spain ETF** |
| November 30, 2022 |  |

---

**The following table represents the individual long positions and related values of equity securities underlying the total return swap with Goldman Sachs Bank USA as of period end, termination date February 27, 2023.**

---

| | | | |
|:---|:---|:---|:---|
|  | *Shares* | *Value* | *% of <br> Basket <br> Value* |
| **Reference Entity — Long** |  |  |  |
| **Common Stocks** |  |  |  |
| **Electric Utilities** |  |  |  |
| Red Electrica Corp. SA | 28154 | $492933 | 56.9% |
| **Gas Utilities** |  |  |  |
| Enagas SA | 20633 | 372686 | 43.1 |
| **Total Reference Entity — Long** |  | 865619 |  |
| **Net Value of Reference Entity — Goldman Sachs Bank USA** |  | $865619 |  |

---

**The following table represents the individual long positions and related values of equity securities underlying the total return swap with HSBC Bank PLC as of period end, termination date February 10, 2023.**

---

| | | | |
|:---|:---|:---|:---|
|  | *Shares* | *Value* | *% of <br> Basket <br> Value* |
| **Reference Entity — Long** |  |  |  |
| **Common Stocks** |  |  |  |
| **Electric Utilities** |  |  |  |
| Red Electrica Corp. SA | 10 | $175 | 49.4% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | *Shares* | *Value* | *% of <br> Basket <br> Value* |
| **Gas Utilities** |  |  |  |
| Enagas SA | 10 | $179 | 50.6 |
| **Total Reference Entity — Long** |  | 354 |  |
| **Net Value of Reference Entity — HSBC Bank PLC** |  | $354 |  |

---

**The following table represents the individual long positions and related values of equity securities underlying the total return swap with JPMorgan Chase Bank NA as of period end, termination date February 8, 2023.**

---

| | | | |
|:---|:---|:---|:---|
|  | *Shares* | *Value* | *% of <br> Basket <br> Value* |
| **Reference Entity — Long** |  |  |  |
| **Common Stocks** |  |  |  |
| **Electric Utilities** |  |  |  |
| Red Electrica Corp. SA | 71806 | $1254945 | 58.0% |
| **Gas Utilities** |  |  |  |
| Enagas SA | 50725 | 909476 | 42.0 |
| **Total Reference Entity — Long** |  | 2164421 |  |
| **Net Value of Reference Entity — JPMorgan Chase Bank NA** |  | $2164421 |  |

---

**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.

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> MSCI Spain ETF** |
| November 30, 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 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $— | $498359596 | $— | $498359596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 3048837 |  |  | 3048837 |
|  | $3048837 | $498359596 | $— | $501408433 |
| Derivative financial instruments<sup>(a)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | $— | $59898 | $— | $59898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps |  | 73395 |  | 73395 |
| &nbsp;&nbsp;&nbsp;Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swaps |  | (21073) |  | (21073) |
|  | $— | $112220 | $— | $112220 |

---

<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.

## 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:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $506901663.18

**Total Liabilities:** $3193417.24

**Net Assets:** $503708245.94

**Cash Not Reported:** $4414491.06

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000011960 | -8.93%               | 10.30%               | 11.59%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3688503.44             | $-33834422.12                              |
| Month 2  | $-465680.75              | $38047858.20                               |
| Month 3  | $33897.65                | $50678158.53                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Enagas SA                                      | Enagas SA                                             | CUSIP: 000000000<br>LEI: 213800OU3FQKGM4M2U23 | Long             | EC               | CORP              | ES        |    530048 | NS      | $9574051.30   | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Meff Financial Derivatives                     | IBEX 35 INDX FUTR DEC22                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | ES        |        20 | NC      | $57499.95     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Amadeus IT Group SA                            | Amadeus IT Group SA                                   | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |    380528 | NS      | $20574199.46  | 4.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Acciona SA                                     | Acciona SA                                            | CUSIP: 000000000<br>LEI: 54930002KP75TLLLNO21 | Long             | EC               | CORP              | ES        |     51950 | NS      | $10161696.66  | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Endesa SA                                      | Endesa SA                                             | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |    706963 | NS      | $13082183.38  | 2.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola SA                                   | Iberdrola SA                                          | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |   8770938 | NS      | $99088926.01  | 19.67%            |  |  |  | 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        |    558900 | NS      | $15862930.76  | 3.15%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |     29414 | NS      | $29416.92     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil SA                  | Industria de Diseno Textil SA                         | CUSIP: 000000000<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               | CORP              | ES        |    859658 | NS      | $22440337.70  | 4.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA                             | Cellnex Telecom SA                                    | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |    500874 | NS      | $17224314.27  | 3.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Repsol SA                                      | Repsol SA                                             | CUSIP: 000000000<br>LEI: BSYCX13Y0NOTV14V9N85 | Long             | EC               | CORP              | ES        |   1629237 | NS      | $25155943.22  | 4.99%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                     | TRS:iShares MSCI Spain ETF - JPM CFD                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               |  | US        |    122531 | OU      | $2164420.55   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| CaixaBank SA                                   | CaixaBank SA                                          | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | EC               | CORP              | ES        |   7138844 | NS      | $26540925.59  | 5.27%             |  |  |  | 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        |   3020000 | NS      | $3020000.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC BANK PLC                                  | TRS:iShares MSCI Spain ETF - HSBC CFD                 | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DE               |  | US        |        20 | OU      | $354.07       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Telefonica SA                                  | Telefonica SA                                         | CUSIP: 000000000<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |   5012309 | NS      | $18709331.18  | 3.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Aena SME SA                                    | Aena SME SA                                           | CUSIP: 000000000<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |    140881 | NS      | $18178365.88  | 3.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Red Electrica Corp SA                          | Red Electrica Corp SA                                 | CUSIP: 000000000<br>LEI: 5493009HMD0C90GUV498 | Long             | EC               | CORP              | ES        |    747742 | NS      | $13091796.17  | 2.60%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Gamesa Renewable Energy SA             | Siemens Gamesa Renewable Energy SA                    | CUSIP: 000000000<br>LEI: 9598004BR8D81D3M1D64 | Long             | EC               | CORP              | ES        |    656872 | NS      | $12377830.41  | 2.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander SA                             | Banco Santander SA                                    | CUSIP: 000000000<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |  25623838 | NS      | $76457286.17  | 15.18%            |  |  |  | No            |                  2 | On Loan: No      |
| Grifols SA                                     | Grifols SA                                            | CUSIP: 000000000<br>LEI: 959800HSSNXWRKBK4N60 | Long             | EC               | CORP              | ES        |    689325 | NS      | $7385405.40   | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Naturgy Energy Group SA                        | Naturgy Energy Group SA                               | CUSIP: 000000000<br>LEI: TL2N6M87CW970S5SV098 | Long             | EC               | CORP              | ES        |    398648 | NS      | $11208469.66  | 2.23%             |  |  |  | No            |                  2 | On Loan: —       |
| Goldman Sachs & Co.                            | TRS:iShares MSCI Spain ETF - GS CFD                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | US        |     48787 | OU      | $865618.50    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrovial SA                                   | Ferrovial SA                                          | CUSIP: 000000000<br>LEI: 95980020140005757903 | Long             | EC               | CORP              | ES        |    807655 | NS      | $21719702.22  | 4.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA             | Banco Bilbao Vizcaya Argentaria SA                    | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |  10208973 | NS      | $60161905.89  | 11.94%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-29

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

**Signature:** Ann Frechette

**Name of Signer:** Ann Frechette

**Title:** Assistant Treasurer