BlackRock (PAC holder) discloses 12.3% passive stake in Pacific Airport Group

Rhea-AI Filing Summary

BlackRock, Inc. has disclosed a significant passive ownership position in Pacific Airport Group Series B shares. BlackRock reports beneficial ownership of 52,613,696 Series B shares, representing 12.3% of this share class as of the stated event date. It has sole power to vote 50,739,918 shares and sole power to dispose of 52,613,696 shares, with no shared voting or dispositive power.

The filing notes that these holdings are attributed to certain BlackRock business units and that various underlying clients may receive dividends or sale proceeds, with no single client holding more than five percent of the total outstanding common shares. BlackRock certifies the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of Pacific Airport Group.

Insights

Equity ownership and governance analyst

BlackRock reports a 12.3% passive stake in Pacific Airport Group.

BlackRock, Inc. reports beneficial ownership of 12.3% of Pacific Airport Group Series B shares, totaling 52,613,696 shares. It holds sole voting power over 50,739,918 shares and sole dispositive power over the full 52,613,696 shares, indicating centralized control of voting and sale decisions within BlackRock’s reporting business units.

The disclosure is made on a Schedule 13G, which is used for passive holdings. BlackRock certifies the position is held in the ordinary course of business and not to change or influence control of the issuer. The filing also notes that various underlying investors may receive dividends or sale proceeds and that no one such investor exceeds five percent of the issuer’s total outstanding common shares.

This kind of filing mainly informs the market about the presence and size of a large institutional shareholder rather than signaling a strategic or activist move. Future ownership reports from BlackRock or other large holders may show how this significant stake evolves over time.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Pacific Airport Group

(Name of Issuer)

Series B Shares

(Title of Class of Securities)

P4959P100

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. P4959P100

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 50,739,918.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 52,613,696.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

52,613,696.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

12.3 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Pacific Airport Group
(b)	Address of issuer's principal executive offices: AVENIDA MARIANO OTERO NO. 1249, PISO 6, COL. RINCONADA DEL BOSQUE, GUADALAJARA, JALISCO, MEXICO, 44530
Item 2.
(a)	Name of person filing: BlackRock, Inc. 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.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Series B Shares
(e)	CUSIP No.: P4959P100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 52,613,696
(b)	Percent of class: 12.3%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 50,739,918
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 52,613,696
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of Pacific Airport Group. No one person's interest in the common stock of Pacific Airport Group is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	01/08/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

What percentage of Pacific Airport Group (PAC) shares does BlackRock own?

BlackRock, Inc. reports beneficial ownership of 52,613,696 Series B shares of Pacific Airport Group, which represents 12.3% of that class of shares.

How many Pacific Airport Group Series B shares can BlackRock vote and dispose of?

BlackRock has sole voting power over 50,739,918 Series B shares and sole dispositive power over 52,613,696 Series B shares, with no shared voting or dispositive power reported.

Is BlackRock’s stake in Pacific Airport Group (PAC) considered passive or activist?

The filing is on Schedule 13G, and BlackRock certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Pacific Airport Group.

Who ultimately benefits from BlackRock’s Pacific Airport Group holdings?

The filing states that various persons have the right to receive dividends or sale proceeds from the common stock of Pacific Airport Group held by BlackRock’s business units, and that no one person’s interest exceeds five percent of the issuer’s total outstanding common shares.

Which class of Pacific Airport Group securities is reported in this BlackRock filing?

The disclosure relates to Series B Shares of Pacific Airport Group, identified by CUSIP number P4959P100.

Where is BlackRock’s principal business office for this Pacific Airport Group (PAC) holding?

BlackRock’s principal business office for this holding is listed as 50 Hudson Yards, New York, NY 10001.