SCHEDULE 13G/A: BlackRock Reports Zero Beneficial Ownership in iShares MSCI France ETF via Amended SEC Filing

BlackRock, Inc. has filed an amended Schedule 13G, reporting zero beneficial ownership of Common Stock in iShares, Inc. (CUSIP 464286707), which appears to refer to the iShares MSCI France ETF, as of March 31, 2025.

Summary

• BlackRock, Inc. filed an Amendment No. 2 to Schedule 13G concerning its beneficial ownership in iShares, Inc. (CUSIP 464286707).
• As of March 31, 2025, BlackRock, Inc. reported 0.00 shares beneficially owned, representing 0.0% of the class of Common Stock of the issuer.
• This filing reflects the holdings of certain "Reporting Business Units" of BlackRock and its subsidiaries and affiliates, explicitly excluding other business units whose beneficial ownership is disaggregated in accordance with SEC Release No. 34-39538.
• BlackRock certifies that any securities referred to were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• Item 6 of the filing specifically refers to "ISHARES MSCI FRANCE ETF" (which shares the CUSIP 464286707), stating that various persons have the right to receive dividends or proceeds from its common stock, but no single person's interest in this ETF exceeds five percent of its total outstanding common shares.

Sentiment

Score: 5

Explanation: Neutral. This is a routine regulatory filing reporting zero beneficial ownership, which is neither inherently positive nor negative for the issuer or the reporting entity in a general investment sense. It simply updates a compliance record.

Positives

• The filing demonstrates BlackRock's adherence to U.S. Securities and Exchange Commission (SEC) reporting requirements for beneficial ownership.
• The certification confirms that any past or present holdings by BlackRock were for ordinary course of business purposes and not for the intent of changing or influencing control of the issuer.

Negatives

• The document contains a potential inconsistency, naming "iShares, Inc." as the issuer on the cover page and in Item 1(a), while Item 6 explicitly refers to "ISHARES MSCI FRANCE ETF" (which shares the same CUSIP 464286707) when discussing beneficial ownership details. This could lead to minor confusion regarding the exact entity being reported on.

Risks

• No specific operational or financial risks for the issuer are detailed in this ownership report. The primary risk noted is the potential for minor confusion due to the inconsistent naming of the issuer ("iShares, Inc." vs. "ISHARES MSCI FRANCE ETF") within the document, although the CUSIP remains consistent.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the issuer's operations or BlackRock's future investment plans beyond the scope of this specific ownership report.

Management Comments

• "In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

This filing is a routine disclosure by a major asset manager, BlackRock, regarding its ownership in an investment company, iShares, Inc. (which, based on the CUSIP and Item 6, appears to be the iShares MSCI France ETF). Schedule 13G filings are standard for institutional investors to report passive ownership stakes. A 0% filing typically indicates a divestment below the reporting threshold or a clarification of non-ownership. Given iShares is BlackRock's ETF brand, this filing likely relates to internal corporate structure or specific fund holdings rather than an external investment.

Comparison to Industry Standards

• This is a standard Schedule 13G filing, which is a common regulatory requirement for institutional investors.
• BlackRock, as one of the world's largest asset managers, routinely files such disclosures for its various holdings and internal structures.
• The disaggregation of beneficial ownership among business units is a common practice for large, diversified financial institutions like BlackRock, as permitted by SEC guidance (e.g., Release No. 34-39538).

Corporate Governance

Stakeholder Impact

• Shareholders (of the iShares MSCI France ETF): Minimal direct impact as BlackRock is reporting 0% ownership, suggesting no significant change in control or influence from BlackRock's side.
• Investors (of BlackRock): Provides transparency regarding BlackRock's compliance with regulatory reporting.

Key Dates

Keywords

BlackRock, iShares, SEC filing, Schedule 13G, beneficial ownership, common stock, investment management, asset management, ETF, fund management, regulatory compliance