# EDGAR Filing Document

**Accession Number:** 0001491978
**File Stem:** 0002071691-25-002066
**Filing Date:** 2025-9
**Character Count:** 72628
**Document Hash:** fdba2227538845f58a889ce6d9514104
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-002066.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0002071691-25-002066

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**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:** 251342642

**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 International Quality Dividend Dynamic Index Fund (Series ID: S000038877)

| Class ID   | Class Name                                                   | Ticker Symbol   |
|:---|:---|:---|
| C000119641 | FlexShares International Quality Dividend Dynamic Index Fund | IQDY            |

## 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 International Quality Dividend Dynamic Index Fund

- **b. EDGAR series identifier (if any):** S000038877

- **c. LEI of Series:** 5493000GSXOMJAI1QP66

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

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

- **b. Date as of which information is reported:** 2025-07-31

**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:** $77665948.99

**Total Liabilities:** $3137678.81

**Net Assets:** $74528270.18

**Cash Not Reported:** $1045540.88

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000119641 | 5.00%                | 3.46%                | 1.06%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $80688.06                | $2512930.90                                |
| Month 2  | $689144.76               | $1449360.74                                |
| Month 3  | $1547.74                 | $617427.59                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Partners Group Holding AG                   | Partners Group Holding AG                          | CUSIP: N/A<br>LEI: 549300I3IVVWZWDHI788       | Long             | EC               | CORP              | CH        |       437 | NS      | $592765.84    | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| National Bank of Canada                     | National Bank of Canada                            | CUSIP: 633067103<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | EC               | CORP              | CA        |      2484 | NS      | $258955.50    | 0.35%             |  |  |  | No            |                  1 | On Loan: —       |
| Mitsui & Co. Ltd.                           | Mitsui & Co. Ltd.                                  | CUSIP: N/A<br>LEI: 2NRSB4GOU9DD6CNW5R48       | Long             | EC               | CORP              | JP        |      4600 | NS      | $94753.98     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Yaskawa Electric Corp.                      | Yaskawa Electric Corp.                             | CUSIP: N/A<br>LEI: 3538003K39GR98R0CK58       | Long             | EC               | CORP              | JP        |      6900 | NS      | $145890.56    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Nien Made Enterprise Co. Ltd.               | Nien Made Enterprise Co. Ltd.                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     35000 | NS      | $503643.52    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Evonik Industries AG                        | Evonik Industries AG                               | CUSIP: N/A<br>LEI: 41GUOJQTALQHLF39XJ34       | Long             | EC               | CORP              | DE        |      7176 | NS      | $143486.19    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| COSCO SHIPPING Holdings Co. Ltd.            | COSCO SHIPPING Holdings Co. Ltd., Class H          | CUSIP: N/A<br>LEI: 3003009XI0QGYYA29S17       | Long             | EC               | CORP              | HK        |    299000 | NS      | $546960.51    | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| Open Text Corp.                             | Open Text Corp.                                    | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Long             | EC               | CORP              | CA        |      3726 | NS      | $109902.92    | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Canadian Natural Resources Ltd.             | Canadian Natural Resources Ltd.                    | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     26588 | NS      | $843477.40    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution AB                                | Evolution AB                                       | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               | CORP              | SE        |      2254 | NS      | $201478.47    | 0.27%             |  |  |  | Yes           |                  1 | On Loan: No      |
| EQT AB                                      | EQT AB                                             | CUSIP: N/A<br>LEI: 213800U7P9GOIRKCTB34       | Long             | EC               | CORP              | SE        |      5658 | NS      | $190555.61    | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Advantest Corp.                             | Advantest Corp.                                    | CUSIP: N/A<br>LEI: 353800EMK32PDKS9XR54       | Long             | EC               | CORP              | JP        |      4900 | NS      | $336987.94    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Astra International Tbk. PT                 | Astra International Tbk. PT                        | CUSIP: N/A<br>LEI: 529900L49TRJOMG4DK47       | Long             | EC               | CORP              | ID        |    483000 | NS      | $149699.18    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                                     | Vale SA                                            | CUSIP: N/A<br>LEI: 254900SMTWBX7RU2SR20       | Long             | EC               | CORP              | BR        |     59800 | NS      | $571024.28    | 0.77%             |  |  |  | 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      | $597.73       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Magna International, Inc.                   | Magna International, Inc.                          | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |      4715 | NS      | $193776.93    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| China Gas Holdings Ltd.                     | China Gas Holdings Ltd.                            | CUSIP: N/A<br>LEI: 254900KTSZLZ21VV8T33       | Long             | EC               | CORP              | HK        |    579600 | NS      | $609133.76    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Antofagasta plc                             | Antofagasta plc                                    | CUSIP: N/A<br>LEI: 213800MY6QVH4FVLD628       | Long             | EC               | CORP              | GB        |      1288 | NS      | $31992.99     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| eMemory Technology, Inc.                    | eMemory Technology, Inc.                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |      2400 | NS      | $163631.79    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Weichai Power Co. Ltd.                      | Weichai Power Co. Ltd., Class H                    | CUSIP: N/A<br>LEI: 529900OKTPKBG85F9502       | Long             | EC               | CORP              | HK        |     80000 | NS      | $169579.62    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                                | ING Groep NV                                       | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |     19987 | NS      | $468731.72    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Novatek Microelectronics Corp.              | Novatek Microelectronics Corp.                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     31500 | NS      | $501298.27    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinotrans Ltd.                              | Sinotrans Ltd., Class H                            | CUSIP: N/A<br>LEI: 5299005U1RZLKVFWR249       | Long             | EC               | CORP              | HK        |   1035000 | NS      | $574853.50    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong & China Gas Co. Ltd.              | Hong Kong & China Gas Co. Ltd.                     | CUSIP: N/A<br>LEI: 254900P7BETXGC7YU827       | Long             | EC               | CORP              | HK        |    253000 | NS      | $225927.39    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Julius Baer Group Ltd.                      | Julius Baer Group Ltd.                             | CUSIP: N/A<br>LEI: 5299007MF0604ZGJER92       | Long             | EC               | CORP              | CH        |      8165 | NS      | $555226.03    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| New China Life Insurance Co. Ltd.           | New China Life Insurance Co. Ltd., Class H         | CUSIP: N/A<br>LEI: 300300F2001111000095       | Long             | EC               | CORP              | HK        |    131100 | NS      | $840042.04    | 1.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Fortescue Ltd.                              | Fortescue Ltd.                                     | CUSIP: N/A<br>LEI: 529900VEJFORCO6I4826       | Long             | EC               | CORP              | AU        |     52808 | NS      | $604187.66    | 0.81%             |  |  |  | No            |                  1 | On Loan: —       |
| GSK plc                                     | GSK plc                                            | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |     15755 | NS      | $295644.20    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Logitech International SA                   | Logitech International SA (Registered)             | CUSIP: N/A<br>LEI: 549300SN6PRK6IJJC215       | Long             | EC               | CORP              | CH        |      3657 | NS      | $342890.19    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco plc                | British American Tobacco plc                       | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |     12650 | NS      | $676311.25    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstRand Ltd.                              | FirstRand Ltd.                                     | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |    114356 | NS      | $489866.76    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedbank AB                                 | Swedbank AB, Class A                               | CUSIP: N/A<br>LEI: M312WZV08Y7LYUC71685       | Long             | EC               | CORP              | SE        |     22425 | NS      | $599927.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Recruit Holdings Co. Ltd.                   | Recruit Holdings Co. Ltd.                          | CUSIP: N/A<br>LEI: 353800R2LRSMVVC4I806       | Long             | EC               | CORP              | JP        |     10800 | NS      | $649600.32    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Budweiser Brewing Co. APAC Ltd.             | Budweiser Brewing Co. APAC Ltd.                    | CUSIP: N/A<br>LEI: 549300YF1MR4GTF18132       | Long             | EC               | CORP              | HK        |    476100 | NS      | $500966.37    | 0.67%             |  |  |  | Yes           |                  1 | On Loan: —       |
| Dai-ichi Life Holdings, Inc.                | Dai-ichi Life Holdings, Inc.                       | CUSIP: N/A<br>LEI: 549300ZUFXI7JXZVTZ25       | Long             | EC               | CORP              | JP        |     29900 | NS      | $239108.61    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group plc                          | Vodafone Group plc                                 | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | GB        |    206908 | NS      | $224580.36    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Metso OYJ                                   | Metso OYJ                                          | CUSIP: N/A<br>LEI: 549300R0VN9C371W0E07       | Long             | EC               | CORP              | FI        |     13593 | NS      | $172147.82    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| AP Moller - Maersk A/S                      | AP Moller - Maersk A/S, Class B                    | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |       282 | NS      | $562066.61    | 0.75%             |  |  |  | No            |                  1 | On Loan: —       |
| Mercedes-Benz Group AG                      | Mercedes-Benz Group AG                             | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |      4439 | NS      | $254540.94    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays plc                                | Barclays plc                                       | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |     91080 | NS      | $447530.56    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Bank Slaski SA                          | ING Bank Slaski SA                                 | CUSIP: N/A<br>LEI: 259400YLRTOBISHBVX41       | Long             | EC               | CORP              | PL        |      1909 | NS      | $170501.21    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Jarir Marketing Co.                         | Jarir Marketing Co.                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |     82455 | NS      | $282462.94    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexel SA                                    | Rexel SA                                           | CUSIP: N/A<br>LEI: 969500N6AVPA51648T62       | Long             | EC               | CORP              | FR        |      5589 | NS      | $170029.33    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Komercni Banka A/S                          | Komercni Banka A/S                                 | CUSIP: N/A<br>LEI: IYKCAVNFR8QGF00HV840       | Long             | EC               | CORP              | CZ        |      3220 | NS      | $154216.14    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                              | BNP Paribas SA                                     | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |      6486 | NS      | $594329.52    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Sonova Holding AG                           | Sonova Holding AG (Registered)                     | CUSIP: N/A<br>LEI: 5299004A0QNX7FBNHS61       | Long             | EC               | CORP              | CH        |      1472 | NS      | $402962.38    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co. Ltd. | Taiwan Semiconductor Manufacturing Co. Ltd.        | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |     47500 | NS      | $1846050.76   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergreen Marine Corp. Taiwan Ltd.          | Evergreen Marine Corp. Taiwan Ltd.                 | CUSIP: N/A<br>LEI: 254900EIJA0A39C5SO15       | Long             | EC               | CORP              | TW        |     63000 | NS      | $417924.45    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Bosideng International Holdings Ltd.        | Bosideng International Holdings Ltd.               | CUSIP: N/A<br>LEI: 254900G7F1RDM4B3S169       | Long             | EC               | CORP              | HK        |    920000 | NS      | $525044.59    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| BE Semiconductor Industries NV              | BE Semiconductor Industries NV                     | CUSIP: N/A<br>LEI: 7245007A1YFLI2GNYX06       | Long             | EC               | CORP              | NL        |      1265 | NS      | $172439.62    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Kia Corp.                                   | Kia Corp.                                          | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |      1012 | NS      | $74652.15     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Catcher Technology Co. Ltd.                 | Catcher Technology Co. Ltd.                        | CUSIP: N/A<br>LEI: 5299006PRSCU66N5JF55       | Long             | EC               | CORP              | TW        |     23000 | NS      | $163363.77    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil SA               | Industria de Diseno Textil SA                      | CUSIP: N/A<br>LEI: 549300TTCXZOGZM2EY83       | Long             | EC               | CORP              | ES        |     13501 | NS      | $647617.19    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Lasertec Corp.                              | Lasertec Corp.                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      5100 | NS      | $525944.38    | 0.71%             |  |  |  | No            |                  1 | On Loan: —       |
| Legal & General Group plc                   | Legal & General Group plc                          | CUSIP: N/A<br>LEI: 213800JH9QQWHLO99821       | Long             | EC               | CORP              | GB        |     29877 | NS      | $101532.89    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOZO, Inc.                                  | ZOZO, Inc.                                         | CUSIP: N/A<br>LEI: 549300GC7XPQMZA0OW13       | Long             | EC               | CORP              | JP        |     18400 | NS      | $182783.48    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Bharat Forge Ltd.                           | Bharat Forge Ltd.                                  | CUSIP: N/A<br>LEI: 3358009U5Z2BU2X3L230       | Long             | EC               | CORP              | IN        |     10649 | NS      | $142122.41    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Post AG                            | Deutsche Post AG                                   | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |      7383 | NS      | $333360.89    | 0.45%             |  |  |  | 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      | $521.32       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sun Hung Kai Properties Ltd.                | Sun Hung Kai Properties Ltd.                       | CUSIP: N/A<br>LEI: 529900LUMD393RD3S874       | Long             | EC               | CORP              | HK        |     28000 | NS      | $333503.18    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Ageas SA                                    | Ageas SA/NV                                        | CUSIP: N/A<br>LEI: 5493005DJBML6LY3RV36       | Long             | EC               | CORP              | BE        |       989 | NS      | $67634.61     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Publicis Groupe SA                          | Publicis Groupe SA                                 | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |      1794 | NS      | $164676.48    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE         | LVMH Moet Hennessy Louis Vuitton SE                | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |       161 | NS      | $87041.14     | 0.12%             |  |  |  | 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      | $-565.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Severstal PAO                               | Severstal PAO                                      | CUSIP: N/A<br>LEI: 213800OKDPTV6K4ONO53       | Long             | EC               | CORP              | RU        |      7952 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CK Asset Holdings Ltd.                      | CK Asset Holdings Ltd.                             | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               | CORP              | HK        |    120000 | NS      | $551082.80    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| WuXi AppTec Co. Ltd.                        | WuXi AppTec Co. Ltd., Class H                      | CUSIP: N/A<br>LEI: 254900OEPQLZSPLN9175       | Long             | EC               | CORP              | HK        |     41400 | NS      | $557449.68    | 0.75%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Bank Polska Kasa Opieki SA                  | Bank Polska Kasa Opieki SA                         | CUSIP: N/A<br>LEI: 5493000LKS7B3UTF7H35       | Long             | EC               | CORP              | PL        |     11431 | NS      | $626653.91    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiichi Sankyo Co. Ltd.                     | Daiichi Sankyo Co. Ltd.                            | CUSIP: N/A<br>LEI: 353800XGIU2IHQGC9504       | Long             | EC               | CORP              | JP        |     17300 | NS      | $427628.82    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| VAT Group AG                                | VAT Group AG                                       | CUSIP: N/A<br>LEI: 529900MVFK7NVALR7Y83       | Long             | EC               | CORP              | CH        |      1449 | NS      | $513007.20    | 0.69%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Powszechny Zaklad Ubezpieczen SA            | Powszechny Zaklad Ubezpieczen SA                   | CUSIP: N/A<br>LEI: QLPCKOOKVX32FUELX240       | Long             | EC               | CORP              | PL        |     33741 | NS      | $569458.44    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Sberbank of Russia PJSC                     | Sberbank of Russia PJSC (Preference)               | CUSIP: N/A<br>LEI: 549300WE6TAF5EEWQS81       | Long             | EC               | CORP              | RU        |     31920 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Tokyo Electron Ltd.                         | Tokyo Electron Ltd.                                | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |      5800 | NS      | $1053284.16   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| China Merchants Bank Co. Ltd.               | China Merchants Bank Co. Ltd., Class H             | CUSIP: N/A<br>LEI: 549300MKO5B60FFIHF58       | Long             | EC               | CORP              | HK        |     85500 | NS      | $555477.71    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Haidilao International Holding Ltd.         | Haidilao International Holding Ltd.                | CUSIP: N/A<br>LEI: 3003009Q8GV4VNKZWI24       | Long             | EC               | CORP              | HK        |    195000 | NS      | $345783.44    | 0.46%             |  |  |  | Yes           |                  1 | On Loan: —       |
| China Hongqiao Group Ltd.                   | China Hongqiao Group Ltd.                          | CUSIP: N/A<br>LEI: 3003009Q4IBFSDE24571       | Long             | EC               | CORP              | HK        |    276000 | NS      | $731312.10    | 0.98%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                         | Forward Foreign Currency Contract                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $6429.40      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Forward Foreign Currency Contract                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $599.58       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi Ltd.                                | Hitachi Ltd.                                       | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |     55800 | NS      | $1741536.93   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                    | Enel SpA                                           | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |    103569 | NS      | $916669.04    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                            | Novo Nordisk A/S, Class B                          | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |      5681 | NS      | $274036.14    | 0.37%             |  |  |  | No            |                  1 | On Loan: —       |
| Imperial Brands plc                         | Imperial Brands plc                                | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |     16491 | NS      | $644662.20    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd.                  | Alibaba Group Holding Ltd.                         | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | US        |      2024 | NS      | $244155.12    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa Securities Group, Inc.                | Daiwa Securities Group, Inc.                       | CUSIP: N/A<br>LEI: 353800WRC7Y23PWFJG38       | Long             | EC               | CORP              | JP        |      9200 | NS      | $64616.10     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Asset Management Ltd.            | Brookfield Asset Management Ltd., Class A          | CUSIP: 113004105<br>LEI: 549300CZ84WPNJZKY093 | Long             | EC               | CORP              | CA        |      9706 | NS      | $599819.64    | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| China Shenhua Energy Co. Ltd.               | China Shenhua Energy Co. Ltd., Class H             | CUSIP: N/A<br>LEI: 529900N9JOX4C108MA40       | Long             | EC               | CORP              | HK        |    115000 | NS      | $498821.66    | 0.67%             |  |  |  | No            |                  1 | On Loan: —       |
| FANUC Corp.                                 | FANUC Corp.                                        | CUSIP: N/A<br>LEI: 529900QTSW745LOKW705       | Long             | EC               | CORP              | JP        |      4600 | NS      | $130546.53    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Financiere Richemont SA                 | Cie Financiere Richemont SA (Registered)           | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |      1403 | NS      | $230478.67    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Randstad NV                                 | Randstad NV                                        | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |      3404 | NS      | $163010.66    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Energia Bogota SA ESP                 | Grupo Energia Bogota SA ESP                        | CUSIP: N/A<br>LEI: 529900LG618OWYVHI655       | Long             | EC               | CORP              | CO        |    766429 | NS      | $542831.93    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                         | MSCI Emerging Markets E-Mini Index                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         8 | NC      | $14929.86     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fast Retailing Co. Ltd.                     | Fast Retailing Co. Ltd.                            | CUSIP: N/A<br>LEI: 353800ZCXKHDPY0N5218       | Long             | EC               | CORP              | JP        |      2200 | NS      | $678002.59    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Intertek Group plc                          | Intertek Group plc                                 | CUSIP: N/A<br>LEI: 2138003GAT25WW1RN369       | Long             | EC               | CORP              | GB        |      7820 | NS      | $511220.69    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Tobacco, Inc.                         | Japan Tobacco, Inc.                                | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |      7500 | NS      | $215189.87    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Financial Services Software Ltd.     | Oracle Financial Services Software Ltd.            | CUSIP: N/A<br>LEI: 3358008SYNPKSPNMTJ57       | Long             | EC               | CORP              | IN        |       575 | NS      | $55630.07     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd.                       | Tencent Holdings Ltd.                              | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | HK        |      8600 | NS      | $602547.77    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoya Corp.                                  | Hoya Corp.                                         | CUSIP: N/A<br>LEI: 353800X4VR3BHEUCJB42       | Long             | EC               | CORP              | JP        |      4600 | NS      | $586252.03    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Electric Industries Ltd.           | Sumitomo Electric Industries Ltd.                  | CUSIP: N/A<br>LEI: 5493005SP87FL5TOS202       | Long             | EC               | CORP              | JP        |      9200 | NS      | $229732.55    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Indian Oil Corp. Ltd.                       | Indian Oil Corp. Ltd.                              | CUSIP: N/A<br>LEI: 335800J8OBWE4VFUDG88       | Long             | EC               | CORP              | IN        |     75716 | NS      | $125866.68    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                         | MSCI EAFE E-Mini Index                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         7 | NC      | $-5565.35     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                             | ASML Holding NV                                    | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       322 | NS      | $225955.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lite-On Technology Corp.                    | Lite-On Technology Corp.                           | CUSIP: N/A<br>LEI: 2549005GU1PQ73SZBT32       | Long             | EC               | CORP              | TW        |     46000 | NS      | $183398.94    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CF SECURED LLC                              | Treasury Repurchase Agreement                      | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |   1719316 | PA      | $1719315.96   | 2.31%             |  |  |  | No            |                  2 | On Loan: No      |
| AP Moller - Maersk A/S                      | AP Moller - Maersk A/S, Class A                    | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |        11 | NS      | $21730.56     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| REC Ltd.                                    | REC Ltd.                                           | CUSIP: N/A<br>LEI: 335800B4YRYWAMIJZ374       | Long             | EC               | CORP              | IN        |     21643 | NS      | $97641.96     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuehne + Nagel International AG             | Kuehne + Nagel International AG (Registered)       | CUSIP: N/A<br>LEI: 529900Q0YED3805QXQ66       | Long             | EC               | CORP              | CH        |      2254 | NS      | $461458.65    | 0.62%             |  |  |  | No            |                  1 | On Loan: —       |
| Hang Seng Bank Ltd.                         | Hang Seng Bank Ltd.                                | CUSIP: N/A<br>LEI: 5493009Z5F07LWZYMK62       | Long             | EC               | CORP              | HK        |     11500 | NS      | $167885.35    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Orient Overseas International Ltd.          | Orient Overseas International Ltd.                 | CUSIP: N/A<br>LEI: 529900DQ426GJO276W95       | Long             | EC               | CORP              | HK        |      8000 | NS      | $144203.82    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Reckitt Benckiser Group plc                 | Reckitt Benckiser Group plc                        | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |      2599 | NS      | $195082.01    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU Corp.                                | ITOCHU Corp.                                       | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |     15000 | NS      | $790690.72    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Shenzhou International Group Holdings Ltd.  | Shenzhou International Group Holdings Ltd.         | CUSIP: N/A<br>LEI: 529900B4W41TCUKJFM73       | Long             | EC               | CORP              | HK        |     18400 | NS      | $133253.50    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo SpA                         | Intesa Sanpaolo SpA                                | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               | CORP              | IT        |     92782 | NS      | $562295.31    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodside Energy Group Ltd.                  | Woodside Energy Group Ltd.                         | CUSIP: N/A<br>LEI: 2549005ZC5RXAOO7FH41       | Long             | EC               | CORP              | AU        |     15364 | NS      | $263031.24    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd.                              | BHP Group Ltd.                                     | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |     55614 | NS      | $1405427.65   | 1.89%             |  |  |  | No            |                  1 | On Loan: —       |
| Fertiglobe plc                              | Fertiglobe plc                                     | CUSIP: N/A<br>LEI: 984500A99D1B4CPBF744       | Long             | EC               | CORP              | AE        |    314985 | NS      | $222961.80    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek, Inc.                              | MediaTek, Inc.                                     | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |     19400 | NS      | $890459.84    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.         | Hong Kong Exchanges & Clearing Ltd.                | CUSIP: N/A<br>LEI: 213800YTVSXYQN17BW16       | Long             | EC               | CORP              | HK        |     10500 | NS      | $571146.50    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL BK OF CANADA FINANCIAL INC         | Other Repurchase Agreement                         | CUSIP: N/A<br>LEI: 549300K66TF1ST7A3V76       | Long             | RA               | CORP              | CA        |    100000 | PA      | $100000.00    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| SAP SE                                      | SAP SE                                             | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |       943 | NS      | $270691.11    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp.                             | TC Energy Corp.                                    | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |      8073 | NS      | $386322.14    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BANK OF NOVA SCOTIA, TORONTO            | Other Repurchase Agreement                         | CUSIP: N/A<br>LEI: L3I9ZG2KFGXZ61BMYR72       | Long             | RA               | CORP              | CA        |   1000000 | PA      | $1000000.00   | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Canara Bank                                 | Canara Bank                                        | CUSIP: N/A<br>LEI: 335800E4RH82Z8XC3C30       | Long             | EC               | CORP              | IN        |    368161 | NS      | $450751.49    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| WPP plc                                     | WPP plc                                            | CUSIP: N/A<br>LEI: 549300LSGBXPYHXGDT93       | Long             | EC               | CORP              | GB        |     69460 | NS      | $376871.55    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.        | Mitsubishi UFJ Financial Group, Inc.               | CUSIP: N/A<br>LEI: 353800V2V8PUY9TK3E06       | Long             | EC               | CORP              | JP        |     85100 | NS      | $1193418.72   | 1.60%             |  |  |  | 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      | $-4803.72     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Alamtri Resources Indonesia Tbk. PT         | Alamtri Resources Indonesia Tbk. PT                | CUSIP: N/A<br>LEI: 529900P2WAH7XA87OI24       | Long             | EC               | CORP              | ID        |   3604100 | NS      | $405201.15    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Banca Mediolanum SpA                        | Banca Mediolanum SpA                               | CUSIP: N/A<br>LEI: 7LVZJ6XRIE7VNZ4UBX81       | Long             | EC               | CORP              | IT        |     32775 | NS      | $581445.71    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Ping An Insurance Group Co. of China Ltd.   | Ping An Insurance Group Co. of China Ltd., Class H | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | HK        |     42000 | NS      | $288649.68    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharat Petroleum Corp. Ltd.                 | Bharat Petroleum Corp. Ltd.                        | CUSIP: N/A<br>LEI: 8GRDBX1TJ0PU5NCSHT72       | Long             | EC               | CORP              | IN        |     44298 | NS      | $166524.42    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                        | Royal Bank of Canada                               | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |      8809 | NS      | $1132799.62   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Motor India Ltd.                    | Hyundai Motor India Ltd.                           | CUSIP: N/A<br>LEI: 335800HWX9HKN9N12M74       | Long             | EC               | CORP              | IN        |      2737 | NS      | $67232.43     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Holdings, Inc.                       | Nomura Holdings, Inc.                              | CUSIP: N/A<br>LEI: 549300B3CEAHYG7K8164       | Long             | EC               | CORP              | JP        |     32200 | NS      | $215030.40    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Finance Corp. Ltd.                    | Power Finance Corp. Ltd.                           | CUSIP: N/A<br>LEI: 3358003Q6D9LIJJZ1614       | Long             | EC               | CORP              | IN        |     75831 | NS      | $354878.56    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Unibail-Rodamco-Westfield                   | Unibail-Rodamco-Westfield                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | FR        |      1909 | NS      | $186244.79    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                            | Roche Holding AG                                   | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |      1771 | NS      | $560709.44    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever Indonesia Tbk. PT                  | Unilever Indonesia Tbk. PT                         | CUSIP: N/A<br>LEI: 549300MUHUFNRRI19O72       | Long             | EC               | CORP              | ID        |   4853000 | NS      | $504322.70    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Dr Ing hc F Porsche AG                      | Dr Ing hc F Porsche AG (Preference)                | CUSIP: N/A<br>LEI: 529900EWEX125AULXI58       | Long             | EC               | CORP              | DE        |      1656 | NS      | $84609.53     | 0.11%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Skandinaviska Enskilda Banken AB            | Skandinaviska Enskilda Banken AB, Class A          | CUSIP: N/A<br>LEI: F3JS33DEI6XQ4ZBPTN86       | Long             | EC               | CORP              | SE        |     35374 | NS      | $621232.36    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ANZ Group Holdings Ltd.                     | ANZ Group Holdings Ltd.                            | CUSIP: N/A<br>LEI: 9845005D9C6BAA10BK72       | Long             | EC               | CORP              | AU        |     18515 | NS      | $366209.52    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell plc                                   | Shell plc                                          | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |      1357 | NS      | $48683.76     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Var Energi ASA                              | Var Energi ASA                                     | CUSIP: N/A<br>LEI: 549300LIVN3FFOJN2K47       | Long             | EC               | CORP              | NO        |     53383 | NS      | $184936.81    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA - Petrobras          | Petroleo Brasileiro SA - Petrobras (Preference)    | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |     23000 | NS      | $134091.86    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Marubeni Corp.                              | Marubeni Corp.                                     | CUSIP: N/A<br>LEI: 4P4N3ORD02UGQT1T1W12       | Long             | EC               | CORP              | JP        |     11500 | NS      | $237878.33    | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Singapore Airlines Ltd.                     | Singapore Airlines Ltd.                            | CUSIP: N/A<br>LEI: 549300ZG62N2599PWR15       | Long             | EC               | CORP              | SG        |    103500 | NS      | $542490.46    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings, Inc.                 | Tokio Marine Holdings, Inc.                        | CUSIP: N/A<br>LEI: 5299009QN2NZ191KLS29       | Long             | EC               | CORP              | JP        |      4600 | NS      | $187184.96    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Nemetschek SE                               | Nemetschek SE                                      | CUSIP: N/A<br>LEI: 529900R0S2IX1S358J38       | Long             | EC               | CORP              | DE        |      4071 | NS      | $610855.61    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Geberit AG                                  | Geberit AG (Registered)                            | CUSIP: N/A<br>LEI: 52990093Z5OHD6T7BS47       | Long             | EC               | CORP              | CH        |       805 | NS      | $618582.60    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| ENN Energy Holdings Ltd.                    | ENN Energy Holdings Ltd.                           | CUSIP: N/A<br>LEI: 549300V7BXPWT6WIPR03       | Long             | EC               | CORP              | HK        |     11500 | NS      | $93831.21     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Manulife Financial Corp.                    | Manulife Financial Corp.                           | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |     11339 | NS      | $351598.81    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Straumann Holding AG                        | Straumann Holding AG (Registered)                  | CUSIP: N/A<br>LEI: 50670046ML5FVIM60Z37       | Long             | EC               | CORP              | CH        |      3059 | NS      | $373461.31    | 0.50%             |  |  |  | No            |                  1 | On Loan: —       |
| Turkiye Petrol Rafinerileri A/S             | Turkiye Petrol Rafinerileri A/S                    | CUSIP: N/A<br>LEI: 789000RCNG97UV50EE03       | Long             | EC               | CORP              | TR        |     37743 | NS      | $157041.67    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TD PRIME SERVICES LLC                       | Other Repurchase Agreement                         | CUSIP: N/A<br>LEI: 549300ZBQI1JB1844X09       | Long             | RA               | CORP              | US        |    200000 | PA      | $200000.00    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered plc                      | Standard Chartered plc                             | CUSIP: N/A<br>LEI: U4LOSYZ7YG4W3S5F2G91       | Long             | EC               | CORP              | GB        |     15847 | NS      | $285312.20    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| United Tractors Tbk. PT                     | United Tractors Tbk. PT                            | CUSIP: N/A<br>LEI: 529900N9ELYOWQV4FW14       | Long             | EC               | CORP              | ID        |    282900 | NS      | $415195.08    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Music Group NV                    | Universal Music Group NV                           | CUSIP: N/A<br>LEI: 724500GJBUL3D9TW9Y18       | Long             | EC               | CORP              | NL        |     13363 | NS      | $388177.50    | 0.52%             |  |  |  | No            |                  1 | On Loan: —       |
| Siemens AG                                  | Siemens AG (Registered)                            | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |      3749 | NS      | $965027.45    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Eclat Textile Co. Ltd.                      | Eclat Textile Co. Ltd.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     20000 | NS      | $270039.37    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca plc                             | AstraZeneca plc                                    | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |      1035 | NS      | $155101.12    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TDK Corp.                                   | TDK Corp.                                          | CUSIP: N/A<br>LEI: 3538005O8WNU39U8NX03       | Long             | EC               | CORP              | JP        |     16100 | NS      | $198662.41    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Santander Bank Polska SA                    | Santander Bank Polska SA                           | CUSIP: N/A<br>LEI: 259400LGXW3K0GDAG361       | Long             | EC               | CORP              | PL        |      3841 | NS      | $565143.39    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Renesas Electronics Corp.                   | Renesas Electronics Corp.                          | CUSIP: N/A<br>LEI: 5299000EPC47VJQOFB81       | Long             | EC               | CORP              | JP        |     16100 | NS      | $199625.24    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto plc                               | Rio Tinto plc                                      | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |      7176 | NS      | $427668.55    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv, Inc.                               | Ovintiv, Inc.                                      | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |      4462 | NS      | $183745.16    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                                 | Equinor ASA                                        | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |     11109 | NS      | $288909.87    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Telkom Indonesia Persero Tbk. PT            | Telkom Indonesia Persero Tbk. PT                   | CUSIP: N/A<br>LEI: 529900M5SQZAOKV1PC81       | Long             | EC               | CORP              | ID        |   3128000 | NS      | $547471.29    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                            | TotalEnergies SE                                   | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |      2277 | NS      | $135571.42    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Kone OYJ                                    | Kone OYJ, Class B                                  | CUSIP: N/A<br>LEI: 2138001CNF45JP5XZK38       | Long             | EC               | CORP              | FI        |      6785 | NS      | $418885.73    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| BB Seguridade Participacoes SA              | BB Seguridade Participacoes SA                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     36800 | NS      | $221514.50    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica SA                               | Telefonica SA                                      | CUSIP: 879382109<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |     38341 | NS      | $198527.55    | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| Nestle SA                                   | Nestle SA (Registered)                             | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |      1587 | NS      | $138951.67    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| KBC Group NV                                | KBC Group NV                                       | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |      6164 | NS      | $647367.37    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| United Microelectronics Corp.               | United Microelectronics Corp.                      | CUSIP: N/A<br>LEI: 391200YJCAGH9LF96P73       | Long             | EC               | CORP              | TW        |    115000 | NS      | $160088.78    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BOC Hong Kong Holdings Ltd.                 | BOC Hong Kong Holdings Ltd.                        | CUSIP: N/A<br>LEI: 254900JB98W77JDJMW15       | Long             | EC               | CORP              | HK        |     23000 | NS      | $103426.75    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CSPC Pharmaceutical Group Ltd.              | CSPC Pharmaceutical Group Ltd.                     | CUSIP: N/A<br>LEI: 529900M3XQCW234H8O91       | Long             | EC               | CORP              | HK        |    214000 | NS      | $270430.57    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Tech Mahindra Ltd.                          | Tech Mahindra Ltd.                                 | CUSIP: N/A<br>LEI: 3358005FZUZ1I25XQH69       | Long             | EC               | CORP              | IN        |     18216 | NS      | $304373.74    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysmex Corp.                                | Sysmex Corp.                                       | CUSIP: N/A<br>LEI: 5299001ZO4CKWACMZI55       | Long             | EC               | CORP              | JP        |      7100 | NS      | $116859.03    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Tele2 AB                                    | Tele2 AB, Class B                                  | CUSIP: N/A<br>LEI: 213800EKD193RVI9HL76       | Long             | EC               | CORP              | SE        |     38594 | NS      | $598298.35    | 0.80%             |  |  |  | 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      | $2483.61      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GMK Norilskiy Nickel PAO                    | GMK Norilskiy Nickel PAO                           | CUSIP: N/A<br>LEI: 253400JPTEEW143W3E47       | Long             | EC               | CORP              | RU        |    212800 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CaixaBank SA                                | CaixaBank SA                                       | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |     34270 | NS      | $323595.76    | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| Novartis AG                                 | Novartis AG (Registered)                           | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |      4968 | NS      | $576240.28    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| TELUS Corp.                                 | TELUS Corp.                                        | CUSIP: 87971M103<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | EC               | CORP              | CA        |       828 | NS      | $13367.30     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Bureau Veritas SA                           | Bureau Veritas SA                                  | CUSIP: N/A<br>LEI: 969500TPU5T3HA5D1F11       | Long             | EC               | CORP              | FR        |     16537 | NS      | $511797.53    | 0.69%             |  |  |  | No            |                  1 | On Loan: —       |
| Chow Tai Fook Jewellery Group Ltd.          | Chow Tai Fook Jewellery Group Ltd.                 | CUSIP: N/A<br>LEI: 254900VXRL7SRSF44G79       | Long             | EC               | CORP              | HK        |    381800 | NS      | $640062.17    | 0.86%             |  |  |  | No            |                  1 | On Loan: —       |
| Fortum OYJ                                  | Fortum OYJ                                         | CUSIP: N/A<br>LEI: 635400IUIZZIUJSAMF76       | Long             | EC               | CORP              | FI        |     32798 | NS      | $604001.72    | 0.81%             |  |  |  | No            |                  1 | On Loan: —       |
| Kumba Iron Ore Ltd.                         | Kumba Iron Ore Ltd.                                | CUSIP: N/A<br>LEI: 3789006C753402643048       | Long             | EC               | CORP              | ZA        |     30820 | NS      | $513402.48    | 0.69%             |  |  |  | No            |                  1 | On Loan: —       |
| Disco Corp.                                 | Disco Corp.                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      2400 | NS      | $726402.87    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| FinecoBank Banca Fineco SpA                 | FinecoBank Banca Fineco SpA                        | CUSIP: N/A<br>LEI: 549300L7YCATGO57ZE10       | Long             | EC               | CORP              | IT        |     26312 | NS      | $563760.28    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV          | Grupo Financiero Banorte SAB de CV, Class O        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |     64400 | NS      | $575028.71    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings plc                           | HSBC Holdings plc                                  | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |    106306 | NS      | $1298195.46   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| HCL Technologies Ltd.                       | HCL Technologies Ltd.                              | CUSIP: N/A<br>LEI: 549300C1F8OLYSOQYB65       | Long             | EC               | CORP              | IN        |       368 | NS      | $6166.61      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Shin-Etsu Chemical Co. Ltd.                 | Shin-Etsu Chemical Co. Ltd.                        | CUSIP: N/A<br>LEI: 353800PX8Q64N86H5W41       | Long             | EC               | CORP              | JP        |     15000 | NS      | $438054.42    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordea Bank Abp                             | Nordea Bank Abp                                    | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |     20010 | NS      | $293151.30    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                                  | L'Oreal SA                                         | CUSIP: N/A<br>LEI: 529900JI1GG6F7RKVI53       | Long             | EC               | CORP              | FR        |      2415 | NS      | $1076197.76   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd.                                | Infosys Ltd.                                       | CUSIP: N/A<br>LEI: 335800TYLGG93MM7PR89       | Long             | EC               | CORP              | IN        |      6026 | NS      | $103805.52    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Isuzu Motors Ltd.                           | Isuzu Motors Ltd.                                  | CUSIP: N/A<br>LEI: 529900C0QSXVCC7AR494       | Long             | EC               | CORP              | JP        |     10300 | NS      | $133288.48    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Cibest SA                             | Grupo Cibest SA (Preference)                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CO        |     13938 | NS      | $153263.02    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Coal India Ltd.                             | Coal India Ltd.                                    | CUSIP: N/A<br>LEI: 335800NLJQZNHM9LBB31       | Long             | EC               | CORP              | IN        |     26473 | NS      | $113735.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Bouygues SA                                 | Bouygues SA                                        | CUSIP: N/A<br>LEI: 969500MOCLNQFNZN0D63       | Long             | EC               | CORP              | FR        |      4577 | NS      | $189375.58    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DNB Bank ASA                                | DNB Bank ASA                                       | CUSIP: N/A<br>LEI: 549300GKFG0RYRRQ1414       | Long             | EC               | CORP              | NO        |      2530 | NS      | $64470.03     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Origin Energy Ltd.                          | Origin Energy Ltd.                                 | CUSIP: N/A<br>LEI: ZSN2LWNPYW6ISMRUC664       | Long             | EC               | CORP              | AU        |     25024 | NS      | $188023.57    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-02

**Name of Applicant:** FlexShares Trust

**Signature:** Randal Rein

**Name of Signer:** Randal Rein

**Title:** Treasurer and PFO