# EDGAR Filing Document

**Accession Number:** 0001491978
**File Stem:** 0001752724-25-152765
**Filing Date:** 2025-6
**Character Count:** 59662
**Document Hash:** de66952cfa50c2be1590378c52685e26
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-152765.hdr.sgml**: 20250624

**ACCESSION NUMBER**: 0001752724-25-152765

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250624

**DATE AS OF CHANGE**: 20250624

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FLEXSHARES TRUST
- **CENTRAL INDEX KEY:** 0001491978

**ORGANIZATION NAME:**
- **EIN:** 272560399
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22555
- **FILM NUMBER:** 251067559

**BUSINESS ADDRESS:**
- **STREET 1:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** (855) 353-9383

**MAIL ADDRESS:**
- **STREET 1:** 50 SOUTH LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FlexShares Trust
- **DATE OF NAME CHANGE:** 20110414

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NT ETF Trust
- **DATE OF NAME CHANGE:** 20100513

## Series and Classes Contracts Data

### FlexShares Global Quality Real Estate Index Fund (Series ID: S000043008)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000133169 | FlexShares Global Quality Real Estate Index Fund | GQRE            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** FlexShares Trust

- **b. Investment Company Act file number:** 811-22555

- **c. CIK number of Registrant:** 0001491978

- **d. LEI of Registrant:** 5493007FU2RQX77I4604

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

  - **Street Address 1:** 50 South LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 855-353-9383

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

- **a. Name of Series:** FlexShares Global Quality Real Estate Index Fund

- **b. EDGAR series identifier (if any):** S000043008

- **c. LEI of Series:** 549300SU9J4P6OO1QE18

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $454482048.70

**Total Liabilities:** $40539642.19

**Net Assets:** $413942406.51

**Cash Not Reported:** $6834073.94

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000133169 | 2.79%                | -1.74%               | 0.03%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $39095.89                | $10983956.51                               |
| Month 2  | $803998.05               | $-10242477.14                              |
| Month 3  | $9872.72                 | $-726876.90                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Carmila SA                                        | Carmila SA                                        | CUSIP: N/A<br>LEI: 222100P6D3QKU33LZQ72       | Long             | EC               | CORP              | FR        |     56199 | NS      | $1224021.53   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust, Inc.                       | American Assets Trust, Inc.                       | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46189 | NS      | $865119.97    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-396.69      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SL Green Realty Corp.                             | SL Green Realty Corp.                             | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |     37323 | NS      | $1963563.03   | 0.47%             |  |  |  | No            |                  1 | On Loan: —       |
| Apple Hospitality REIT, Inc.                      | Apple Hospitality REIT, Inc.                      | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |    130273 | NS      | $1533313.21   | 0.37%             |  |  |  | No            |                  1 | On Loan: —       |
| Broadstone Net Lease, Inc.                        | Broadstone Net Lease, Inc.                        | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |    109109 | NS      | $1765383.62   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| First Capital REIT                                | First Capital REIT                                | CUSIP: 31890B103<br>LEI: 54930042UG2WCIIAQZ39 | Long             | EC               | CORP              | CA        |     88517 | NS      | $1094527.16   | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Sunstone Hotel Investors, Inc.                    | Sunstone Hotel Investors, Inc.                    | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |    110968 | NS      | $925473.12    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts, Inc.                      | Xenia Hotels & Resorts, Inc.                      | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               | CORP              | US        |     75790 | NS      | $809437.20    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| CubeSmart                                         | CubeSmart                                         | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    128986 | NS      | $5245860.62   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CDL Hospitality Trusts                            | CDL Hospitality Trusts                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |    185900 | NS      | $113188.71    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                                    | EPR Properties                                    | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     43758 | NS      | $2165583.42   | 0.52%             |  |  |  | No            |                  1 | On Loan: —       |
| Katitas Co. Ltd.                                  | Katitas Co. Ltd.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     68300 | NS      | $989258.27    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Mapletree Pan Asia Commercial Trust               | Mapletree Pan Asia Commercial Trust               | CUSIP: N/A<br>LEI: 549300BF18K4IC5LZ208       | Long             | EC               | CORP              | SG        |   1401400 | NS      | $1309418.70   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Hang Lung Group Ltd.                              | Hang Lung Group Ltd.                              | CUSIP: N/A<br>LEI: 529900V2T2EPOQYH0981       | Long             | EC               | CORP              | HK        |    754000 | NS      | $1083157.31   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyu Fudosan Holdings Corp.                      | Tokyu Fudosan Holdings Corp.                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    328900 | NS      | $2295889.86   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Killam Apartment REIT                             | Killam Apartment REIT                             | CUSIP: 49410M102<br>LEI: 2549001RZSL75H60JE41 | Long             | EC               | CORP              | CA        |     82082 | NS      | $1035161.40   | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| InvenTrust Properties Corp.                       | InvenTrust Properties Corp.                       | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               | CORP              | US        |     44044 | NS      | $1227065.84   | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Goodman Group                                     | Goodman Group                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     40326 | NS      | $773561.68    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Metropolitan Fund Invest                    | Japan Metropolitan Fund Invest                    | CUSIP: N/A<br>LEI: 353800QDHNIP60E1LQ93       | Long             | EC               | CORP              | JP        |      4086 | NS      | $2724190.97   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Hall Group                                | Charter Hall Group                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    271986 | NS      | $2941111.09   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| PARAGON REIT                                      | PARAGON REIT                                      | CUSIP: N/A<br>LEI: 549300147IMZFE7VYR26       | Long             | EC               | CORP              | SG        |    185900 | NS      | $139528.22    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                             | Urban Edge Properties                             | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     71500 | NS      | $1292005.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Daito Trust Construction Co. Ltd.                 | Daito Trust Construction Co. Ltd.                 | CUSIP: N/A<br>LEI: 353800QQ4DRI3KXS3038       | Long             | EC               | CORP              | JP        |     33700 | NS      | $3747069.55   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2515.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sino Land Co. Ltd.                                | Sino Land Co. Ltd.                                | CUSIP: N/A<br>LEI: 529900G5P51053HJVZ92       | Long             | EC               | CORP              | HK        |   2336954 | NS      | $2404850.34   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                                       | Centerspace                                       | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               | CORP              | US        |     14586 | NS      | $880410.96    | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Kimco Realty Corp.                                | Kimco Realty Corp.                                | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |    388245 | NS      | $7757135.10   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Zug Estates Holding AG                            | Zug Estates Holding AG, Class B                   | CUSIP: N/A<br>LEI: 506700683S928H292L02       | Long             | EC               | CORP              | CH        |        60 | NS      | $154791.60    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Host Hotels & Resorts, Inc.                       | Host Hotels & Resorts, Inc.                       | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    402402 | NS      | $5681916.24   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TD PRIME SERVICES LLC                             | Other Repurchase Agreement                        | CUSIP: N/A<br>LEI: 549300ZBQI1JB1844X09       | Long             | RA               | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| SmartCentres REIT                                 | SmartCentres REIT                                 | CUSIP: 83179X108<br>LEI: 549300HKEP2IYWZ14H97 | Long             | EC               | CORP              | CA        |     59917 | NS      | $1105686.19   | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| CapitaLand China Trust                            | CapitaLand China Trust                            | CUSIP: N/A<br>LEI: 5493007T7JU82E186P49       | Long             | EC               | CORP              | SG        |    214500 | NS      | $113352.99    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mega Or Holdings Ltd.                             | Mega Or Holdings Ltd.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |     29029 | NS      | $985169.62    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Kerry Properties Ltd.                             | Kerry Properties Ltd.                             | CUSIP: N/A<br>LEI: 5299006T5ULIIRZ7LK49       | Long             | EC               | CORP              | HK        |    535000 | NS      | $1257005.43   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Hung Kai Properties Ltd.                      | Sun Hung Kai Properties Ltd.                      | CUSIP: N/A<br>LEI: 529900LUMD393RD3S874       | Long             | EC               | CORP              | HK        |    841000 | NS      | $7987368.95   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | TOPIX Mini Index                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | JP        |         1 | NC      | $67.07        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Residential Trust, Inc.                  | NexPoint Residential Trust, Inc.                  | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               | CORP              | US        |     24882 | NS      | $927600.96    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Shurgard Self Storage Ltd.                        | Shurgard Self Storage Ltd.                        | CUSIP: N/A<br>LEI: 549300J0UEIKU81XO336       | Long             | EC               | CORP              | BE        |     29744 | NS      | $1234119.46   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Orix JREIT, Inc.                                  | Orix JREIT, Inc.                                  | CUSIP: N/A<br>LEI: 353800WVNTBIU65TA247       | Long             | EC               | CORP              | JP        |      1519 | NS      | $1914723.78   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group, Inc.                        | Simon Property Group, Inc.                        | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |    128700 | NS      | $20254806.00  | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp.                               | Realty Income Corp.                               | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     19305 | NS      | $1116987.30   | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| AIMS APAC REIT                                    | AIMS APAC REIT                                    | CUSIP: N/A<br>LEI: 549300MGNQOBQ3KVN734       | Long             | EC               | CORP              | SG        |    100100 | NS      | $94296.55     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| City Developments Ltd.                            | City Developments Ltd.                            | CUSIP: N/A<br>LEI: 254900BPLPJS0RJ72373       | Long             | EC               | CORP              | SG        |    297500 | NS      | $1132400.25   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Azrieli Group Ltd.                                | Azrieli Group Ltd.                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |     14443 | NS      | $1050962.86   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CK Asset Holdings Ltd.                            | CK Asset Holdings Ltd.                            | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               | CORP              | HK        |   1107000 | NS      | $4532380.36   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON REIT Investment Corp.                      | NIPPON REIT Investment Corp.                      | CUSIP: N/A<br>LEI: 3538004O49OJ90PEXX85       | Long             | EC               | CORP              | JP        |      1859 | NS      | $1086936.34   | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Highwoods Properties, Inc.                        | Highwoods Properties, Inc.                        | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     61633 | NS      | $1752842.52   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| LondonMetric Property plc                         | LondonMetric Property plc                         | CUSIP: N/A<br>LEI: 213800OCERWWPQDURL87       | Long             | EC               | CORP              | GB        |   1172600 | NS      | $3011883.02   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Office Realty Trust, Inc.                | Piedmont Office Realty Trust, Inc., Class A       | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    133276 | NS      | $787661.16    | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Safestore Holdings plc                            | Safestore Holdings plc                            | CUSIP: N/A<br>LEI: 213800WGA3YSJC1YOH73       | Long             | EC               | CORP              | GB        |    150722 | NS      | $1267305.47   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                                     | Equinix, Inc.                                     | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     15015 | NS      | $12924161.25  | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitaland India Trust                            | Capitaland India Trust                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |   1258400 | NS      | $939679.87    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HMC Capital Ltd.                                  | HMC Capital Ltd.                                  | CUSIP: N/A<br>LEI: 9845005E59E4DCFA1C33       | Long             | EC               | CORP              | AU        |    155584 | NS      | $483815.05    | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| SITE Centers Corp.                                | SITE Centers Corp.                                | CUSIP: 82981J851<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               | CORP              | US        |     64493 | NS      | $763597.12    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Welltower, Inc.                                   | Welltower, Inc.                                   | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     64922 | NS      | $9906447.98   | 2.39%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-117.45      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Reit 1 Ltd.                                       | Reit 1 Ltd.                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |    183326 | NS      | $952133.50    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $6685.42      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CTP NV                                            | CTP NV                                            | CUSIP: N/A<br>LEI: 3157000YTVO4TN65UM14       | Long             | EC               | CORP              | NL        |     74074 | NS      | $1391043.79   | 0.34%             |  |  |  | Yes           |                  1 | On Loan: —       |
| Digital Realty Trust, Inc.                        | Digital Realty Trust, Inc.                        | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     52910 | NS      | $8494171.40   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                    | Public Storage                                    | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      8294 | NS      | $2491766.42   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Big Yellow Group plc                              | Big Yellow Group plc                              | CUSIP: N/A<br>LEI: 213800W7Q4V2ZI8LIW31       | Long             | EC               | CORP              | GB        |    107536 | NS      | $1444976.50   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HA Sustainable Infrastructure Capital, Inc.       | HA Sustainable Infrastructure Capital, Inc.       | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |     66066 | NS      | $1650328.68   | 0.40%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-745.60      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BWP Trust                                         | BWP Trust                                         | CUSIP: N/A<br>LEI: 529900PNX10I8B4V0N76       | Long             | EC               | CORP              | AU        |    481338 | NS      | $1102583.15   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                              | Vornado Realty Trust                              | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93522 | NS      | $3299456.16   | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| Allreal Holding AG                                | Allreal Holding AG (Registered)                   | CUSIP: N/A<br>LEI: 5067006XH174LA44H658       | Long             | EC               | CORP              | CH        |      8580 | NS      | $1898197.75   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust, Inc.                   | Empire State Realty Trust, Inc., Class A          | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               | CORP              | US        |    116402 | NS      | $828782.24    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Kite Realty Group Trust                           | Kite Realty Group Trust                           | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    126841 | NS      | $2746107.65   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| CT REIT                                           | CT REIT                                           | CUSIP: 126462100<br>LEI: 549300QXEHJXT6D53X16 | Long             | EC               | CORP              | CA        |     88660 | NS      | $953160.79    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Kojamo OYJ                                        | Kojamo OYJ                                        | CUSIP: N/A<br>LEI: 7437007YPUOQZ8OV1R42       | Long             | EC               | CORP              | FI        |    110396 | NS      | $1286299.69   | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Aeon Mall Co. Ltd.                                | Aeon Mall Co. Ltd.                                | CUSIP: N/A<br>LEI: 353800IDE3ULLSB2R846       | Long             | EC               | CORP              | JP        |     81300 | NS      | $1561707.80   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BANK OF NOVA SCOTIA, TORONTO                  | Other Repurchase Agreement                        | CUSIP: N/A<br>LEI: L3I9ZG2KFGXZ61BMYR72       | Long             | RA               | CORP              | CA        |   4000000 | PA      | $4000000.00   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| National Health Investors, Inc.                   | National Health Investors, Inc.                   | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |     26026 | NS      | $1969387.42   | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| VICI Properties, Inc.                             | VICI Properties, Inc., Class A                    | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    605891 | NS      | $19400629.82  | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyu REIT, Inc.                                  | Tokyu REIT, Inc.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       913 | NS      | $1144450.36   | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Healthpeak Properties, Inc.                       | Healthpeak Properties, Inc.                       | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |    402831 | NS      | $7186505.04   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Far East Hospitality Trust                        | Far East Hospitality Trust                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |    200200 | NS      | $83563.61     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sirius Real Estate Ltd.                           | Sirius Real Estate Ltd.                           | CUSIP: N/A<br>LEI: 213800NURUF5W8QSK566       | Long             | EC               | CORP              | GB        |    959530 | NS      | $1184880.09   | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Big Shopping Centers Ltd.                         | Big Shopping Centers Ltd.                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |      9295 | NS      | $1356044.98   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| LTC Properties, Inc.                              | LTC Properties, Inc.                              | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               | CORP              | US        |     32032 | NS      | $1148987.84   | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                               | SPI 200 Index                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | AU        |        18 | NC      | $82558.06     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust, Inc.               | First Industrial Realty Trust, Inc.               | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     75647 | NS      | $3599284.26   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities, Inc.                       | AvalonBay Communities, Inc.                       | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |     81796 | NS      | $17175524.08  | 4.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Essential Properties Realty Trust, Inc.           | Essential Properties Realty Trust, Inc.           | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |    101101 | NS      | $3252419.17   | 0.79%             |  |  |  | No            |                  1 | On Loan: —       |
| Eurocommercial Properties NV                      | Eurocommercial Properties NV                      | CUSIP: N/A<br>LEI: 724500SFK53FPNM68L95       | Long             | EC               | CORP              | NL        |     41327 | NS      | $1195601.99   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-1004.47     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Stockland                                         | Stockland                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    429000 | NS      | $1506981.12   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Suntec REIT                                       | Suntec REIT                                       | CUSIP: N/A<br>LEI: 549300C46QFXSI2F4K13       | Long             | EC               | CORP              | SG        |   1329900 | NS      | $1171314.24   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Boardwalk REIT                                    | Boardwalk REIT                                    | CUSIP: 096631106<br>LEI: 549300RMNRTTJRCOYW23 | Long             | EC               | CORP              | CA        |     22594 | NS      | $1063372.14   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| VGP NV                                            | VGP NV                                            | CUSIP: N/A<br>LEI: 315700NENYPIXFR94T49       | Long             | EC               | CORP              | BE        |     10010 | NS      | $926239.81    | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Innovative Industrial Properties, Inc.            | Innovative Industrial Properties, Inc.            | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |     16588 | NS      | $900894.28    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp.                               | Kilroy Realty Corp.                               | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     63921 | NS      | $2014150.71   | 0.49%             |  |  |  | No            |                  1 | On Loan: —       |
| Camden Property Trust                             | Camden Property Trust                             | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     61347 | NS      | $6981288.60   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| UOL Group Ltd.                                    | UOL Group Ltd.                                    | CUSIP: N/A<br>LEI: 254900O9PRCWTMR86R25       | Long             | EC               | CORP              | SG        |    300300 | NS      | $1327051.39   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| British Land Co. plc (The)                        | British Land Co. plc (The)                        | CUSIP: N/A<br>LEI: RV5B68J2GV3QGMRPW209       | Long             | EC               | CORP              | GB        |    571857 | NS      | $3004904.84   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Unibail-Rodamco-Westfield                         | Unibail-Rodamco-Westfield                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | FR        |     69641 | NS      | $5899331.59   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT, Inc.                      | Sabra Health Care REIT, Inc.                      | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |    135993 | NS      | $2427475.05   | 0.59%             |  |  |  | No            |                  1 | On Loan: —       |
| Prologis, Inc.                                    | Prologis, Inc.                                    | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    109824 | NS      | $11224012.80  | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Israel Canada T.R Ltd.                            | Israel Canada T.R Ltd.                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |    220935 | NS      | $718833.32    | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Mivne Real Estate KD Ltd.                         | Mivne Real Estate KD Ltd.                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |    374660 | NS      | $1093386.79   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT, Inc.                                    | NNN REIT, Inc.                                    | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |    105248 | NS      | $4326745.28   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage REIT                             | National Storage REIT                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    827678 | NS      | $1218056.47   | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| American Homes 4 Rent                             | American Homes 4 Rent, Class A                    | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    190619 | NS      | $7127244.41   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercialys SA                                      | Mercialys SA                                      | CUSIP: N/A<br>LEI: 969500081CGAXB7YS433       | Long             | EC               | CORP              | FR        |     80938 | NS      | $1083833.88   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp.                             | Regency Centers Corp.                             | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     99099 | NS      | $7152965.82   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                                | Equity Residential                                | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |    196482 | NS      | $13804825.32  | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Mori Trust Reit, Inc.                             | Mori Trust Reit, Inc.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      2288 | NS      | $1016960.18   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Aroundtown SA                                     | Aroundtown SA                                     | CUSIP: N/A<br>LEI: 529900H4DWG3KWMBMQ39       | Long             | EC               | CORP              | DE        |    446732 | NS      | $1331510.85   | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| National Storage Affiliates Trust                 | National Storage Affiliates Trust                 | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |     41613 | NS      | $1548003.60   | 0.37%             |  |  |  | No            |                  1 | On Loan: —       |
| Swire Properties Ltd.                             | Swire Properties Ltd.                             | CUSIP: N/A<br>LEI: 5299001L12PHYVQ92465       | Long             | EC               | CORP              | HK        |    663000 | NS      | $1465410.65   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger, Inc.                                      | Tanger, Inc.                                      | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |     63349 | NS      | $1996126.99   | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| Tokyo Tatemono Co. Ltd.                           | Tokyo Tatemono Co. Ltd.                           | CUSIP: N/A<br>LEI: 529900RQA4JTW1869J86       | Long             | EC               | CORP              | JP        |    107200 | NS      | $1919439.15   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-7122.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Hufvudstaden AB                                   | Hufvudstaden AB, Class A                          | CUSIP: N/A<br>LEI: 213800UEV5ZAFFVQ4J85       | Long             | EC               | CORP              | SE        |     91806 | NS      | $1118436.17   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust, Inc.                 | Four Corners Property Trust, Inc.                 | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |     55198 | NS      | $1542784.10   | 0.37%             |  |  |  | No            |                  1 | On Loan: —       |
| Intershop Holding AG                              | Intershop Holding AG                              | CUSIP: N/A<br>LEI: 506700CGX4K77JX3R725       | Long             | EC               | CORP              | CH        |      1099 | NS      | $180815.09    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts, Inc.                       | Park Hotels & Resorts, Inc.                       | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |    118690 | NS      | $1179778.60   | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                               | EURO STOXX 50 Index                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |        14 | NC      | $-26529.88    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL BK OF CANADA FINANCIAL INC               | Other Repurchase Agreement                        | CUSIP: N/A<br>LEI: 549300K66TF1ST7A3V76       | Long             | RA               | CORP              | CA        |   7000000 | PA      | $7000000.00   | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Realty & Development Co. Ltd.            | Sumitomo Realty & Development Co. Ltd.            | CUSIP: N/A<br>LEI: 353800SO2DCLOI3LNZ64       | Long             | EC               | CORP              | JP        |    178300 | NS      | $6625000.00   | 1.60%             |  |  |  | No            |                  1 | On Loan: —       |
| Mid-America Apartment Communities, Inc.           | Mid-America Apartment Communities, Inc.           | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     67210 | NS      | $10730076.50  | 2.59%             |  |  |  | No            |                  1 | On Loan: —       |
| Starhill Global REIT                              | Starhill Global REIT                              | CUSIP: N/A<br>LEI: 549300GCJNC7HDN3YK51       | Long             | EC               | CORP              | SG        |    271700 | NS      | $103003.37    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Shaftesbury Capital plc                           | Shaftesbury Capital plc                           | CUSIP: N/A<br>LEI: 549300TTXXZ1SHUI0D54       | Long             | EC               | CORP              | GB        |    850421 | NS      | $1542562.16   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR, Inc.                                         | UDR, Inc.                                         | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |    180323 | NS      | $7551927.24   | 1.82%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                               | S&P Midcap 400 E-Mini Index                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        19 | NC      | $-141827.25   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co.                             | Lamar Advertising Co., Class A                    | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     39325 | NS      | $4475578.25   | 1.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Acadia Realty Trust                               | Acadia Realty Trust                               | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               | CORP              | US        |     68354 | NS      | $1305561.40   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CF SECURED LLC                                    | Treasury Repurchase Agreement                     | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |  10307274 | PA      | $10307274.50  | 2.49%             |  |  |  | No            |                  2 | On Loan: No      |
| KDX Realty Investment Corp.                       | KDX Realty Investment Corp.                       | CUSIP: N/A<br>LEI: 353800FFT483NCIHFY42       | Long             | EC               | CORP              | JP        |      2359 | NS      | $2457567.30   | 0.59%             |  |  |  | No            |                  1 | On Loan: —       |
| Mobimo Holding AG                                 | Mobimo Holding AG (Registered)                    | CUSIP: N/A<br>LEI: 50670018HN8O1GD3O385       | Long             | EC               | CORP              | CH        |      4147 | NS      | $1607325.22   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| PSP Swiss Property AG                             | PSP Swiss Property AG (Registered)                | CUSIP: N/A<br>LEI: 50670042Y437P8X44F56       | Long             | EC               | CORP              | CH        |     26312 | NS      | $4703660.24   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties, Inc.                          | Cousins Properties, Inc.                          | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |     96096 | NS      | $2646483.84   | 0.64%             |  |  |  | No            |                  1 | On Loan: —       |
| American Tower Corp.                              | American Tower Corp.                              | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     46189 | NS      | $10411462.49  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Retail Estates NV                                 | Retail Estates NV                                 | CUSIP: N/A<br>LEI: 5493007CO5W5OBFG7L21       | Long             | EC               | CORP              | BE        |      2095 | NS      | $153844.33    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin, Inc.                         | Alexander & Baldwin, Inc.                         | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59631 | NS      | $1024460.58   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Montea NV                                         | Montea NV                                         | CUSIP: N/A<br>LEI: 5493006K5LQDD0GK1T60       | Long             | EC               | CORP              | BE        |     13498 | NS      | $981546.18    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp.                                | Agree Realty Corp.                                | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59488 | NS      | $4616863.68   | 1.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Ichigo, Inc.                                      | Ichigo, Inc.                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    357500 | NS      | $962422.88    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Amot Investments Ltd.                             | Amot Investments Ltd.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |    190190 | NS      | $1005029.80   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust, Inc.                   | Independence Realty Trust, Inc.                   | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |    129844 | NS      | $2522868.92   | 0.61%             |  |  |  | No            |                  1 | On Loan: —       |
| Getty Realty Corp.                                | Getty Realty Corp.                                | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |     36751 | NS      | $1028660.49   | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Covivio SA                                        | Covivio SA                                        | CUSIP: N/A<br>LEI: 969500P8M3W2XX376054       | Long             | EC               | CORP              | FR        |      7007 | NS      | $392684.72    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Vicinity Ltd.                                     | Vicinity Ltd.                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   2234518 | NS      | $3374224.97   | 0.82%             |  |  |  | No            |                  1 | On Loan: —       |
| Ichigo Office REIT Investment Corp.               | Ichigo Office REIT Investment Corp.               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      1664 | NS      | $972922.04    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Parkway Life REIT                                 | Parkway Life REIT                                 | CUSIP: N/A<br>LEI: 549300I4DKVD2OF5LW91       | Long             | EC               | CORP              | SG        |    386100 | NS      | $1250825.61   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Estate Logistics REIT Investment Corp. | Mitsubishi Estate Logistics REIT Investment Corp. | CUSIP: N/A<br>LEI: 353800YYSGZU31ICQK38       | Long             | EC               | CORP              | JP        |      1167 | NS      | $953955.41    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-15973.02    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Choice Properties REIT                            | Choice Properties REIT                            | CUSIP: 17039A106<br>LEI: 5493007MYGFSLOZGT937 | Long             | EC               | CORP              | CA        |    114972 | NS      | $1215225.66   | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Hulic Co. Ltd.                                    | Hulic Co. Ltd.                                    | CUSIP: N/A<br>LEI: 3538002E12E7IHAKTB10       | Long             | EC               | CORP              | JP        |    266300 | NS      | $2782670.71   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Melisron Ltd.                                     | Melisron Ltd.                                     | CUSIP: N/A<br>LEI: 213800B9SL62L9VLO604       | Long             | EC               | CORP              | IL        |     15158 | NS      | $1287516.74   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Real Estate Holdings, Inc.                 | Nomura Real Estate Holdings, Inc.                 | CUSIP: N/A<br>LEI: 353800UZ91CT24OL9P59       | Long             | EC               | CORP              | JP        |    318000 | NS      | $1888069.27   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Henderson Land Development Co. Ltd.               | Henderson Land Development Co. Ltd.               | CUSIP: N/A<br>LEI: 529900SYQB7IVR9QGN76       | Long             | EC               | CORP              | HK        |    307000 | NS      | $870955.68    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                                 | RLJ Lodging Trust                                 | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    112398 | NS      | $787909.98    | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| CareTrust REIT, Inc.                              | CareTrust REIT, Inc.                              | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |    107250 | NS      | $3139207.50   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Airport City Ltd.                                 | Airport City Ltd.                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |     59345 | NS      | $881601.16    | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| CITIGROUP GLOBAL MARKETS INC                      | Treasury Repurchase Agreement                     | CUSIP: N/A<br>LEI: MBNUM2BPBDO7JBLYG310       | Long             | RA               | CORP              | US        |  15000000 | PA      | $15000000.00  | 3.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Fukuoka REIT Corp.                                | Fukuoka REIT Corp.                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       900 | NS      | $986189.01    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Klepierre SA                                      | Klepierre SA                                      | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |    124124 | NS      | $4548998.13   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Integrated Commercial Trust            | CapitaLand Integrated Commercial Trust            | CUSIP: N/A<br>LEI: 54930031292WUTXF0L29       | Long             | EC               | CORP              | SG        |   3360500 | NS      | $5533487.78   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** FlexShares Trust

**Signature:** Randal Rein

**Name of Signer:** Randal Rein

**Title:** Treasurer and PFO