0001752724-24-165594.txt : 20240726 0001752724-24-165594.hdr.sgml : 20240726 20240726113830 ACCESSION NUMBER: 0001752724-24-165594 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240531 FILED AS OF DATE: 20240726 DATE AS OF CHANGE: 20240726 PERIOD START: 20240831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: iShares, Inc. CENTRAL INDEX KEY: 0000930667 ORGANIZATION NAME: 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: 241144672 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 0000930667 S000004256 iShares MSCI Spain ETF C000011960 iShares MSCI Spain ETF EWP NPORT-P 1 primary_doc.xml NPORT-P false 0000930667 XXXXXXXX S000004256 C000011960 iShares, Inc. 811-09102 0000930667 549300MGJZCNMJLBAJ67 400 HOWARD STREET SAN FRANCISCO 94105 800-474-2737 iShares MSCI Spain ETF S000004256 549300KJYAHQCJB4CU67 2024-08-31 2024-05-31 N 1097056399.68 46902357.34 1050154042.34 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 12259830.00000000 N BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES 5493008LW2651I1QB503 BlackRock Cash Funds: Treasury, SL Agency Shares 066922477 3430000.00000000 NS USD 3430000.00000000 0.326618749412 Long STIV RF US N 1 N N N Enagas SA 213800OU3FQKGM4M2U23 Enagas SA 000000000 1550144.00000000 NS 23839190.52000000 2.270066062582 Long EC CORP ES N 2 N N N Amadeus IT Group SA 9598004A3FTY3TEHHN09 Amadeus IT Group SA 000000000 630775.00000000 NS 45026246.13000000 4.287584898465 Long EC CORP ES N 2 N N N Acciona SA 54930002KP75TLLLNO21 Acciona SA 000000000 206328.00000000 NS 26489721.27000000 2.522460534549 Long EC CORP ES N 2 N N N Endesa SA 549300LHK07F2CHV4X31 Endesa SA 000000000 1695969.00000000 NS 33778388.61000000 3.216517505825 Long EC CORP ES N 2 N N N Iberdrola SA 5QK37QC7NWOJ8D7WVQ45 Iberdrola SA 000000000 13182929.00000000 NS 173998321.76000000 16.56883797469 Long EC CORP ES N 2 N N N ACS Actividades de Construccion y Servicios SA 95980020140005558665 ACS Actividades de Construccion y Servicios SA 000000000 922756.00000000 NS 41314258.08000000 3.934114083676 Long EC CORP ES N 2 N N N BlackRock Funds III 5493008LW2651I1QB503 BlackRock Cash Funds: Institutional, SL Agency Shares 066922519 21643983.81000000 NS USD 21650477.00000000 2.061647732341 Long STIV RF US N 1 N N Industria de Diseno Textil SA 549300TTCXZOGZM2EY83 Industria de Diseno Textil SA 000000000 965482.00000000 NS 45910170.98000000 4.371755869043 Long EC CORP ES N 2 N N N Ferrovial SE 72450022R2ZFL41Y6I04 Ferrovial SE 000000000 1089326.00000000 NS 43050929.63000000 4.099487112773 Long EC CORP NL N 2 N N N Cellnex Telecom SA 5493008T4YG3AQUI7P67 Cellnex Telecom SA 000000000 1155375.00000000 NS 42205888.86000000 4.019018844697 Long EC CORP ES N 2 N N N Repsol SA BSYCX13Y0NOTV14V9N85 Repsol SA 000000000 2773402.00000000 NS 45274931.43000000 4.311265738606 Long EC CORP ES N 2 N N N J.P. MORGAN SECURITIES LLC ZBUT11V806EZRVTWT807 TRS:iShares MSCI Spain ETF - JPM CFD 000000000 111816.00000000 OU Notional Amount USD 2015110.27000000 0.191887112628 N/A DE US N 2 J.P. MORGAN SECURITIES LLC ZBUT11V806EZRVTWT807 iShares MSCI Spain ETF - JPM CFD EWP-JMC REDEIA CORP SA 111816.00000000 USD 2015110.27000000 USD Y Multi - See Part E Multi - See Part E 2023-02-08 0.00000000 USD 0.00000000 USD 111816.00000000 USD 56659.50000000 N N N CaixaBank SA 7CUNS533WID6K7DGFI87 CaixaBank SA 000000000 9485065.00000000 NS 54321609.89000000 5.172727780865 Long EC CORP ES N 2 N N N HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 TRS:iShares MSCI Spain ETF - HSBC CFD 000000000 129630.00000000 OU Notional Amount USD 2336148.18000000 0.222457666762 N/A DE US N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 iShares MSCI Spain ETF - HSBC CFD EWP-HSC REDEIA CORP SA 129630.00000000 USD 2336148.18000000 USD Y Multi - See Part E Multi - See Part E 2023-02-13 0.00000000 USD 0.00000000 USD 129630.00000000 USD 65424.88000000 N N N Telefonica SA 549300EEJH4FEPDBBR25 Telefonica SA 000000000 10539238.00000000 NS 49253035.51000000 4.690077219552 Long EC CORP ES N 2 N N N Aena SME SA 959800R7QMXKF0NFMT29 Aena SME SA 000000000 227641.00000000 NS 44518063.68000000 4.239193669226 Long EC CORP ES N 2 N N N Redeia Corp SA 5493009HMD0C90GUV498 Redeia Corp SA 000000000 1644029.00000000 NS 29628136.62000000 2.821313390746 Long EC CORP ES N 2 N N N Meff Financial Derivatives N/A IBEX 35 INDX FUTR JUN24 000000000 38.00000000 NC 80787.27000000 0.007692897112 N/A DE ES N 2 Meff Financial Derivatives N/A Long MEFF Madrid IBEX 35 Index Futures IBM4 Index 2024-06-21 4248666.84000000 EUR 80787.27000000 N N N Banco Santander SA 5493006QMFDDMYWIAM13 Banco Santander SA 000000000 34572318.00000000 NS 182325624.99000000 17.36179813998 Long EC CORP ES N 2 N N N Grifols SA 959800HSSNXWRKBK4N60 Grifols SA 000000000 2149826.00000000 NS 21851640.46000000 2.080803346841 Long EC CORP ES N 2 N N Goldman Sachs & Co. FOR8UP27PHTHYVLBNG30 TRS:iShares MSCI Spain ETF - GS CFD 000000000 124824.00000000 OU Notional Amount USD 2249536.06000000 0.214210103404 N/A DE US N 2 Goldman Sachs & Co. FOR8UP27PHTHYVLBNG30 iShares MSCI Spain ETF - GS CFD EWP-GSC REDEIA CORP SA 124824.00000000 USD 2249536.06000000 USD Y Multi - See Part E Multi - See Part E 2023-02-28 0.00000000 USD 0.00000000 USD 124824.00000000 USD -26344.62000000 N N N Banco Bilbao Vizcaya Argentaria SA K8MS7FD7N5Z2WQ51AZ71 Banco Bilbao Vizcaya Argentaria SA 000000000 12351339.00000000 NS 134028760.98000000 12.76277151505 Long EC CORP ES N 2 N N N 2024-06-28 iShares, Inc. Chuck Pulsfort Chuck Pulsfort Assistant Treasurer XXXX NPORT-EX 2 NPORT_0BIA_41444623_0524.htm
Schedule of Investments (unaudited) iShares® MSCI Spain ETF
May 31, 2024 (Percentages shown are based on Net Assets)

 

Security  Shares   Value 
         
Common Stocks          
           
Banks — 37.8%          
Banco Bilbao Vizcaya Argentaria SA   12,118,236   $131,499,278 
Banco de Sabadell SA   18,802,669    39,548,938 
Banco Santander SA   33,556,299    176,967,399 
CaixaBank SA   8,584,555    49,164,328 
         397,179,943 
Biotechnology — 2.1%          
Grifols SA(a)(b)   2,149,826    21,851,641 
           
Construction & Engineering — 8.4%          
ACS Actividades de Construccion y Servicios SA   924,154    41,376,850 
Ferrovial SE   1,187,011    46,911,510 
         88,288,360 
Diversified Telecommunication Services — 8.9%          
Cellnex Telecom SA(c)   1,256,517    45,900,610 
Telefonica SA   10,215,934    47,742,138 
         93,642,748 
Electric Utilities — 23.9%          
Acciona SA   206,725    26,540,691 
Endesa SA   1,698,579    33,830,372 
Iberdrola SA   12,196,307    160,976,134 
Redeia Corp. SA   1,644,029    29,628,136 
         250,975,333 
Hotels, Restaurants & Leisure — 4.5%          
Amadeus IT Group SA   656,484    46,861,417 
           
Oil, Gas & Consumable Fuels — 4.5%          
Repsol SA   2,913,522    47,562,347 
           
Specialty Retail — 4.5%          
Industria de Diseno Textil SA   1,001,028    47,600,439 
Security  Shares   Value 
           
Transportation Infrastructure — 4.5%          
Aena SME SA(c)   239,013   $46,742,001 
           
Total Long-Term Investments — 99.1%          
(Cost: $957,282,490)        1,040,704,229 
           
Short-Term Securities          
           
Money Market Funds — 2.5%          
BlackRock Cash Funds: Institutional, SL Agency
Shares, 5.49%(d)(e)(f)		   22,151,869    22,158,514 
BlackRock Cash Funds: Treasury, SL Agency Shares,
5.28%(d)(e)		   3,430,000    3,430,000 
           
Total Short-Term Securities — 2.5%          
(Cost: $25,591,239)        25,588,514 
           
Total Investments — 101.6%          
(Cost: $982,873,729)        1,066,292,743 
           
Liabilities in Excess of Other Assets — (1.6)%        (16,409,755)
           
Net Assets — 100.0%       $1,049,882,988 

 

(a)Non-income producing security.

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

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

(d)Affiliate of the Fund.

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

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

 

Affiliates

 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer  Value at
08/31/23		   Purchases
at Cost		   Proceeds
from Sales		   Net Realized
Gain (Loss)		   Change in
Unrealized
Appreciation
(Depreciation)		   Value at
05/31/24		   Shares
Held at
05/31/24		   Income   Capital
Gain
Distributions
from
Underlying
Funds		 
BlackRock Cash Funds: Institutional, SL
Agency Shares		  $—   $22,162,274(a)  $—   $(1,035)  $(2,725)  $22,158,514    22,151,869   $16,723(b)  $— 
BlackRock Cash Funds: Treasury, SL Agency
Shares		   3,440,000    —    (10,000)(a)  —    —    3,430,000    3,430,000    138,199    — 
                  $(1,035)  $(2,725)  $25,588,514        $154,922   $— 

 

(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.

 

1

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Spain ETF
May 31, 2024

 

Derivative Financial Instruments Outstanding as of Period End

 

Futures Contracts

 

Description  Number of
Contracts		   Expiration
Date		  Notional
Amount
(000)		   Value/
Unrealized
Appreciation
(Depreciation)		 
Long Contracts                  
IBEX 35 Index   19   06/21/24  $2,345   $40,441 

 

OTC Total Return Swaps

 

Reference Entity  Payment
Frequency		  Counterparty(a)  Termination
Date		  Net Notional   Accrued
Unrealized
Appreciation
(Depreciation)		   Net Value of
Reference
Entity		   Gross
Notional
Amount
Net Asset
Percentage		 
Equity Securities Long  Monthly  Goldman Sachs Bank USA(b)  08/19/26  $2,275,792   $(33,956)(c) $2,256,067    0.2%
   Monthly  HSBC Bank PLC(d)  02/08/28   2,270,596    26,210(e)   2,314,068    0.2 
   Monthly  JPMorgan Chase Bank NA(f)  02/10/25   1,958,566    30,141(g)   1,996,065    0.2 
                 $22,395   $6,566,200      

 

(a)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.

(c)Amount includes $(14,231) of net dividends and financing fees.

(e)Amount includes $(17,262) of net dividends, payable for referenced securities purchased and financing fees.

(g)Amount includes $(7,358) 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)
Range: 45 basis points 45 basis points 40 basis points
Benchmarks: EUR - 1D Euro Short Term Rate (ESTR) EUR - 1D Euro Short Term Rate (ESTR) EUR - 1D Euro Short Term Rate (ESTR)

 

2

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Spain ETF
May 31, 2024

 

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 August 19, 2026.

 

   Shares   Value  

% of

 Basket

 Value

 
                
Reference Entity — Long               
                
Common Stocks               
Electric Utilities               
Red Electrica Corp. SA   124,824   $2,256,067    100.0%
                
Net Value of Reference Entity — Goldman Sachs Bank USA   $2,256,067      

 

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 08, 2028.

 

   Shares   Value  

% of

 Basket

 Value

 
             
Reference Entity — Long               
                
Common Stocks               
Electric Utilities               
Red Electrica Corp. SA   129,630   $2,314,068    100.0%
                
Net Value of Reference Entity — HSBC Bank PLC   $2,314,068      

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 10, 2025.

 

   Shares   Value   % of
Basket
Value		 
             
Reference Entity — Long               
                
Common Stocks               
Electric Utilities               
Red Electrica Corp. SA   111,816   $1,996,065    100.0%
                
Net Value of Reference Entity — JPMorgan Chase Bank NA   $1,996,065      

 

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.  $—   $1,040,704,229   $—   $1,040,704,229 
Short-Term Securities                    
Money Market Funds   25,588,514    —    —    25,588,514 
   $25,588,514   $1,040,704,229   $—   $1,066,292,743 

 

3

 

 

Schedule of Investments (unaudited) (continued) iShares® MSCI Spain ETF
May 31, 2024

 

Fair Value Hierarchy as of Period End (continued)

 

   Level 1   Level 2   Level 3   Total 
Derivative Financial Instruments(a)                    
Assets                    
Equity Contracts  $—   $96,792   $—   $96,792 
Liabilities                    
Equity Contracts   —    (33,956)   —    (33,956)
   $—   $62,836   $—   $62,836 

 

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

 

4