# EDGAR Filing Document

**Accession Number:** 0001491978
**File Stem:** 0002071691-26-006231
**Filing Date:** 2026-3
**Character Count:** 75869
**Document Hash:** 70d7b72d5741b9977e3ebba9e7acfb60
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-006231.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0002071691-26-006231

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260325

**DATE AS OF CHANGE**: 20260325

**PERIOD START**: 20261031

**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:** 26788685

**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 Developed Markets ex-US Quality Low Volatility Index Fund (Series ID: S000065838)

| Class ID   | Class Name                                                           | Ticker Symbol   |
|:---|:---|:---|
| C000212720 | FlexShares Developed Markets ex-US Quality Low Volatility Index Fund | QLVD            |

## 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 Developed Markets ex-US Quality Low Volatility Index Fund

- **b. EDGAR series identifier (if any):** S000065838

- **c. LEI of Series:** 549300CQ3FSH3O0DSC91

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**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:** $62772291.99

**Total Liabilities:** $2404907.57

**Net Assets:** $60367384.42

**Cash Not Reported:** $59155.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000212720 | 2.14%                | 1.90%                | 2.48%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $743611.02               | $391141.96                                 |
| Month 2  | $15089.08                | $1024024.29                                |
| Month 3  | $102327.11               | $1301693.33                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Thomson Reuters Corp.                          | Thomson Reuters Corp.                                                  | CUSIP: 884903808<br>LEI: 549300561UZND4C7B569 | Long             | EC               | CORP              | CA        |      2738 | NS      | $304199.76    | 0.50%             |  |  |  | No            |                  1 | On Loan: —       |
| Orange SA                                      | Orange SA                                                              | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |     20313 | NS      | $377462.93    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank of Canada                        | National Bank of Canada                                                | CUSIP: 633067103<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | EC               | CORP              | CA        |      4255 | NS      | $509820.74    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext NV                                    | Euronext NV                                                            | CUSIP: N/A<br>LEI: 724500QJ4QSZ3H9QU415       | Long             | EC               | CORP              | FR        |      3145 | NS      | $441116.87    | 0.73%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Norwegian Krone                                | Norwegian Krone                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | NO        |     51168 | OU      | $5330.49      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Idemitsu Kosan Co. Ltd.                        | Idemitsu Kosan Co. Ltd.                                                | CUSIP: N/A<br>LEI: 549300P0R46FF6DUA630       | Long             | EC               | CORP              | JP        |      7400 | NS      | $62674.06     | 0.10%             |  |  |  | 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      | $-634.66      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Keppel Ltd.                                    | Keppel Ltd.                                                            | CUSIP: N/A<br>LEI: 254900SQ7IPDOY6IDW33       | Long             | EC               | CORP              | SG        |     14800 | NS      | $127473.60    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Muenchener Rueckversicherungs-Gesellschaft AG  | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered) | CUSIP: N/A<br>LEI: 529900MUF4C20K50JS49       | Long             | EC               | CORP              | DE        |      1332 | NS      | $811956.11    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Industry Co. Ltd.                  | Daiwa House Industry Co. Ltd.                                          | CUSIP: N/A<br>LEI: 353800K9WXR9XRZJZI46       | Long             | EC               | CORP              | JP        |      7400 | NS      | $252327.24    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever plc                                   | Unilever plc                                                           | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |     23482 | NS      | $1591985.94   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax Financial Holdings Ltd.                | Fairfax Financial Holdings Ltd.                                        | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |       243 | NS      | $403243.80    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Pembina Pipeline Corp.                         | Pembina Pipeline Corp.                                                 | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | CA        |      6512 | NS      | $272088.73    | 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      | $-3593.10     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ACS Actividades de Construccion y Servicios SA | ACS Actividades de Construccion y Servicios SA                         | CUSIP: N/A<br>LEI: 95980020140005558665       | Long             |  | CORP              | ES        |      3145 | NS      | $1736.03      | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Toronto-Dominion Bank (The)                    | Toronto-Dominion Bank (The)                                            | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |      4810 | NS      | $452033.08    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp.                               | Sony Group Corp.                                                       | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |      2300 | NS      | $51498.77     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sampo OYJ                                      | Sampo OYJ, Class A                                                     | CUSIP: N/A<br>LEI: 743700UF3RL386WIDA22       | Long             | EC               | CORP              | FI        |     43475 | NS      | $486168.32    | 0.81%             |  |  |  | No            |                  1 | On Loan: —       |
| CK Infrastructure Holdings Ltd.                | CK Infrastructure Holdings Ltd.                                        | CUSIP: N/A<br>LEI: 5299005U11RQ1C27MR12       | Long             | EC               | CORP              | HK        |     64500 | NS      | $530638.18    | 0.88%             |  |  |  | No            |                  1 | On Loan: —       |
| Commonwealth Bank of Australia                 | Commonwealth Bank of Australia                                         | CUSIP: N/A<br>LEI: MSFSBD3QN1GSN7Q6C537       | Long             | EC               | CORP              | AU        |       259 | NS      | $27100.24     | 0.04%             |  |  |  | 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      | $858.39       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Amadeus IT Group SA                            | Amadeus IT Group SA                                                    | CUSIP: N/A<br>LEI: 9598004A3FTY3TEHHN09       | Long             | EC               | CORP              | ES        |      4699 | NS      | $316515.16    | 0.52%             |  |  |  | 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        |    247000 | NS      | $233093.46    | 0.39%             |  |  |  | No            |                  1 | On Loan: —       |
| Danone SA                                      | Danone SA                                                              | CUSIP: N/A<br>LEI: 969500KMUQ2B6CBAF162       | Long             | EC               | CORP              | FR        |      7030 | NS      | $550635.69    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                      | Sanofi SA                                                              | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |     11877 | NS      | $1119054.27   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Oversea-Chinese Banking Corp. Ltd.             | Oversea-Chinese Banking Corp. Ltd.                                     | CUSIP: N/A<br>LEI: 5493007O3QFXCPOGWK22       | Long             | EC               | CORP              | SG        |     38700 | NS      | $647439.72    | 1.07%             |  |  |  | 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      | $178.66       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Next plc                                       | Next plc                                                               | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |       925 | NS      | $168376.79    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Post Bank Co. Ltd.                       | Japan Post Bank Co. Ltd.                                               | CUSIP: N/A<br>LEI: 5493006JVO6N2HC2XZ76       | Long             | EC               | CORP              | JP        |     40000 | NS      | $710488.79    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK plc                                        | GSK plc                                                                | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               | CORP              | GB        |     16502 | NS      | $424930.98    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Brambles Ltd.                                  | Brambles Ltd.                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     17057 | NS      | $267663.90    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Airlines Co. Ltd.                        | Japan Airlines Co. Ltd.                                                | CUSIP: N/A<br>LEI: 3538002MH5L1QZZ93477       | Long             | EC               | CORP              | JP        |     10100 | NS      | $191478.35    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Sino Land Co. Ltd.                             | Sino Land Co. Ltd.                                                     | CUSIP: N/A<br>LEI: 529900G5P51053HJVZ92       | Long             | EC               | CORP              | HK        |     10638 | NS      | $16046.15     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG                             | Deutsche Boerse AG                                                     | CUSIP: N/A<br>LEI: 529900G3SW56SHYNPR95       | Long             | EC               | CORP              | DE        |      2109 | NS      | $535163.70    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Danish Krone                                   | Danish Krone                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | DK        |     43663 | OU      | $6955.84      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group plc                              | Compass Group plc                                                      | CUSIP: N/A<br>LEI: 2138008M6MH9OZ6U2T68       | Long             | EC               | CORP              | GB        |     18130 | NS      | $544101.38    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| New Zealand Dollar                             | New Zealand Dollar                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | NZ        |      3222 | OU      | $1948.83      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                            | Constellation Software, Inc.                                           | CUSIP: 21037X134<br>LEI: N/A                  | N/A              | DE               |  | CA        |        28 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Elisa OYJ                                      | Elisa OYJ                                                              | CUSIP: N/A<br>LEI: 743700TU2S3DXWGU7H32       | Long             | EC               | CORP              | FI        |      4995 | NS      | $220815.93    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco-Nevada Corp.                            | Franco-Nevada Corp.                                                    | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      2705 | NS      | $636703.25    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                      | Argenx SE                                                              | CUSIP: N/A<br>LEI: 7245009C5FZE6G9ODQ71       | Long             | EC               | CORP              | BE        |       259 | NS      | $216854.40    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Gas Co. Ltd.                             | Tokyo Gas Co. Ltd.                                                     | CUSIP: N/A<br>LEI: 353800678EIJLOQSWZ83       | Long             | EC               | CORP              | JP        |      5900 | NS      | $261839.75    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify, Inc.                                  | Shopify, Inc., Class A                                                 | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |       333 | NS      | $43936.87     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                   | Iberdrola SA                                                           | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |       553 | NS      | $12450.32     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Industria de Diseno Textil SA                  | Industria de Diseno Textil SA                                          | CUSIP: N/A<br>LEI: 549300TTCXZOGZM2EY83       | Long             | EC               | CORP              | ES        |      1702 | NS      | $111363.14    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOZO, Inc.                                     | ZOZO, Inc.                                                             | CUSIP: N/A<br>LEI: 549300GC7XPQMZA0OW13       | Long             | EC               | CORP              | JP        |     43400 | NS      | $358993.91    | 0.59%             |  |  |  | No            |                  1 | On Loan: —       |
| Hydro One Ltd.                                 | Hydro One Ltd.                                                         | CUSIP: 448811208<br>LEI: 5493007QZDXTP1W2VL44 | Long             | EC               | CORP              | CA        |      6216 | NS      | $247097.65    | 0.41%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Shimano, Inc.                                  | Shimano, Inc.                                                          | CUSIP: N/A<br>LEI: 529900L32YT3P9DECR10       | Long             | EC               | CORP              | JP        |      1600 | NS      | $182860.11    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Chocoladefabriken Lindt & Spruengli AG         | Chocoladefabriken Lindt & Spruengli AG                                 | CUSIP: N/A<br>LEI: 529900JYJNNOKKAGK736       | Long             | EC               | CORP              | CH        |        33 | NS      | $473969.22    | 0.79%             |  |  |  | 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        |     19500 | NS      | $313859.69    | 0.52%             |  |  |  | No            |                  1 | On Loan: —       |
| Alimentation Couche-Tard, Inc.                 | Alimentation Couche-Tard, Inc.                                         | CUSIP: 01626P148<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               | CORP              | CA        |      5476 | NS      | $286467.41    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Dai Nippon Printing Co. Ltd.                   | Dai Nippon Printing Co. Ltd.                                           | CUSIP: N/A<br>LEI: 529900S7NFNQ4FT6OP83       | Long             | EC               | CORP              | JP        |     14000 | NS      | $251166.86    | 0.42%             |  |  |  | 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      | $-196.35      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Thales SA                                      | Thales SA                                                              | CUSIP: N/A<br>LEI: 529900FNDVTQJOVVPZ19       | Long             | EC               | CORP              | FR        |      1480 | NS      | $450734.59    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Eni SpA                                        | Eni SpA                                                                | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               | CORP              | IT        |     18907 | NS      | $387459.46    | 0.64%             |  |  |  | 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        |       148 | NS      | $96291.70     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| RELX plc                                       | RELX plc                                                               | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               | CORP              | GB        |      3959 | NS      | $140110.31    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Azrieli Group Ltd.                             | Azrieli Group Ltd.                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |        74 | NS      | $9997.09      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Schindler Holding AG                           | Schindler Holding AG                                                   | CUSIP: N/A<br>LEI: 5299007DRLI319H7Q933       | Long             | EC               | CORP              | CH        |      1295 | NS      | $501485.62    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke KPN NV                             | Koninklijke KPN NV                                                     | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |    104303 | NS      | $509737.33    | 0.84%             |  |  |  | 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      | $-96.84       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp. Japan                             | Oracle Corp. Japan                                                     | CUSIP: N/A<br>LEI: 529900MIMKY9RU60Z323       | Long             | EC               | CORP              | JP        |      4900 | NS      | $332257.23    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| HKT Trust & HKT Ltd.                           | HKT Trust & HKT Ltd.                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    148000 | NS      | $221724.27    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Helvetia Baloise Holding AG                    | Helvetia Baloise Holding AG                                            | CUSIP: N/A<br>LEI: 529900SUJBXTORH0LT80       | Long             | EC               | CORP              | CH        |      1628 | NS      | $413738.85    | 0.69%             |  |  |  | No            |                  1 | On Loan: —       |
| Telstra Group Ltd.                             | Telstra Group Ltd.                                                     | CUSIP: N/A<br>LEI: 894500WRW54CVN62K416       | Long             | EC               | CORP              | AU        |     72705 | NS      | $248555.42    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Leumi Le-Israel BM                        | Bank Leumi Le-Israel BM                                                | CUSIP: N/A<br>LEI: 7JDSZWRGUQY2DSTWCR57       | Long             | EC               | CORP              | IL        |     24642 | NS      | $595876.48    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Great-West Lifeco, Inc.                        | Great-West Lifeco, Inc.                                                | CUSIP: 39138C106<br>LEI: 549300X81X4VZEESFU46 | Long             | EC               | CORP              | CA        |      5180 | NS      | $243823.21    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Getlink SE                                     | Getlink SE                                                             | CUSIP: N/A<br>LEI: 9695007ZEQ7M0OE74G82       | Long             | EC               | CORP              | FR        |      1036 | NS      | $20594.70     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide SA                                 | Air Liquide SA                                                         | CUSIP: N/A<br>LEI: 969500MMPQVHK671GT54       | Long             | EC               | CORP              | FR        |      4847 | NS      | $910718.93    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian National Railway Co.                  | Canadian National Railway Co.                                          | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |      5809 | NS      | $561917.74    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Assets Holdings Ltd.                     | Power Assets Holdings Ltd.                                             | CUSIP: N/A<br>LEI: 254900JOWYUW1ZX4DF47       | Long             | EC               | CORP              | HK        |     69500 | NS      | $539735.84    | 0.89%             |  |  |  | No            |                  1 | On Loan: —       |
| Wolters Kluwer NV                              | Wolters Kluwer NV                                                      | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               | CORP              | NL        |      3034 | NS      | $284709.32    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Shionogi & Co. Ltd.                            | Shionogi & Co. Ltd.                                                    | CUSIP: N/A<br>LEI: 35380049VXDTHZI3DY35       | Long             | EC               | CORP              | JP        |     25900 | NS      | $532909.37    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Toho Co. Ltd.                                  | Toho Co. Ltd.                                                          | CUSIP: N/A<br>LEI: 529900IYHHYWU4O3H185       | Long             | EC               | CORP              | JP        |      3700 | NS      | $188933.62    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                   | Iberdrola SA                                                           | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               | CORP              | ES        |     40441 | NS      | $910493.79    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Snam SpA                                       | Snam SpA                                                               | CUSIP: N/A<br>LEI: 8156002278562044AF79       | Long             | EC               | CORP              | IT        |     41366 | NS      | $285325.74    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Franc                                    | Swiss Franc                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CH        |      5055 | OU      | $6564.82      | 0.01%             |  |  |  | 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      | $36.27        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Telecommunications Ltd.              | Singapore Telecommunications Ltd.                                      | CUSIP: N/A<br>LEI: 2549003XJKIQO8YDYD89       | Long             | EC               | CORP              | SG        |     59200 | NS      | $214127.66    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Sodexo SA                                      | Sodexo SA                                                              | CUSIP: N/A<br>LEI: 969500LCBOG12HXPYM84       | Long             | EC               | CORP              | FR        |      3848 | NS      | $197485.14    | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| BioMerieux                                     | BioMerieux                                                             | CUSIP: N/A<br>LEI: 549300AK8Y0LBIQ4T071       | Long             | EC               | CORP              | FR        |      1739 | NS      | $202328.77    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Japanese Yen                                   | Japanese Yen                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | JP        |    658377 | OU      | $4267.97      | 0.01%             |  |  |  | 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      | $-4728.42     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Japan Tobacco, Inc.                            | Japan Tobacco, Inc.                                                    | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |     13100 | NS      | $473947.23    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Intact Financial Corp.                         | Intact Financial Corp.                                                 | CUSIP: 45823T106<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | EC               | CORP              | CA        |      2516 | NS      | $460614.82    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Dollar                                | Canadian Dollar                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CA        |     38798 | OU      | $28651.21     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Gas Co. Ltd.                             | Osaka Gas Co. Ltd.                                                     | CUSIP: N/A<br>LEI: 353800024KMNOPQRWZ02       | Long             | EC               | CORP              | JP        |      7100 | NS      | $266675.74    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Danske Bank A/S                                | Danske Bank A/S                                                        | CUSIP: N/A<br>LEI: MAES062Z21O4RZ2U7M96       | Long             | EC               | CORP              | DK        |      5069 | NS      | $259619.50    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Kao Corp.                                      | Kao Corp.                                                              | CUSIP: N/A<br>LEI: 353800HM38HFCB8RGL63       | Long             | EC               | CORP              | JP        |     10800 | NS      | $433092.18    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                  | Koninklijke Ahold Delhaize NV                                          | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               | CORP              | NL        |      9916 | NS      | $388814.93    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Loblaw Cos. Ltd.                               | Loblaw Cos. Ltd.                                                       | CUSIP: 539481101<br>LEI: 5493008LN3O1DIDTSH67 | Long             | EC               | CORP              | CA        |      1739 | NS      | $78682.96     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                | ASML Holding NV                                                        | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       629 | NS      | $909621.14    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd.                        | DBS Group Holdings Ltd.                                                | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               | CORP              | SG        |     17300 | NS      | $807060.68    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuehne + Nagel International AG                | Kuehne + Nagel International AG (Registered)                           | CUSIP: N/A<br>LEI: 529900Q0YED3805QXQ66       | Long             | EC               | CORP              | CH        |        74 | NS      | $17172.65     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Canon, Inc.                                    | Canon, Inc.                                                            | CUSIP: N/A<br>LEI: 529900JH1GSC035SSP77       | Long             | EC               | CORP              | JP        |      9000 | NS      | $273337.22    | 0.45%             |  |  |  | No            |                  1 | On Loan: —       |
| Insurance Australia Group Ltd.                 | Insurance Australia Group Ltd.                                         | CUSIP: N/A<br>LEI: 549300PFEWKNHRG25N08       | Long             | EC               | CORP              | AU        |     35224 | NS      | $187538.92    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Otsuka Corp.                                   | Otsuka Corp.                                                           | CUSIP: N/A<br>LEI: 529900RG9DJ58J3UIE72       | Long             | EC               | CORP              | JP        |     10800 | NS      | $214375.73    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Steel Corp.                             | Nippon Steel Corp.                                                     | CUSIP: N/A<br>LEI: 35380065QWQ4U2V3PA33       | Long             | EC               | CORP              | JP        |     62800 | NS      | $262949.05    | 0.44%             |  |  |  | No            |                  1 | On Loan: —       |
| SAP SE                                         | SAP SE                                                                 | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |      1147 | NS      | $232733.99    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Dollar                               | Hong Kong Dollar                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | HK        |   2025815 | OU      | $259397.31    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Israeli Shekel                                 | Israeli Shekel                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | IL        |      6753 | OU      | $2185.02      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubu Electric Power Co., Inc.                 | Chubu Electric Power Co., Inc.                                         | CUSIP: N/A<br>LEI: 529900A76GOP0PGNHT63       | Long             | EC               | CORP              | JP        |     14800 | NS      | $215773.37    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| LY Corp.                                       | LY Corp.                                                               | CUSIP: N/A<br>LEI: 52990078MD2OL792YM35       | Long             | EC               | CORP              | JP        |    114700 | NS      | $294891.87    | 0.49%             |  |  |  | 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        |      3300 | NS      | $59995.14     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sekisui Chemical Co. Ltd.                      | Sekisui Chemical Co. Ltd.                                              | CUSIP: N/A<br>LEI: 529900KQIVT7NWFNMI70       | Long             | EC               | CORP              | JP        |     24500 | NS      | $434062.62    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Bandai Namco Holdings, Inc.                    | Bandai Namco Holdings, Inc.                                            | CUSIP: N/A<br>LEI: 3538008EFEM34VRJDQ95       | Long             | EC               | CORP              | JP        |      1900 | NS      | $49390.64     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Hapoalim BM                               | Bank Hapoalim BM                                                       | CUSIP: N/A<br>LEI: B6ARUI4946ST4S7WOU88       | Long             | EC               | CORP              | IL        |     23754 | NS      | $590852.31    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Cochlear Ltd.                                  | Cochlear Ltd.                                                          | CUSIP: N/A<br>LEI: 5493001OLLWY8KV5UC08       | Long             | EC               | CORP              | AU        |       925 | NS      | $174379.15    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                           | Royal Bank of Canada                                                   | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |      8147 | NS      | $1364020.12   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Corp.                               | Mitsubishi Corp.                                                       | CUSIP: N/A<br>LEI: KVIPTY4PULAPGC1VVD26       | Long             | EC               | CORP              | JP        |     34800 | NS      | $924255.15    | 1.53%             |  |  |  | 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      | $1296.82      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Haleon plc                                     | Haleon plc                                                             | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               | CORP              | GB        |     97273 | NS      | $505766.61    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                               | Roche Holding AG                                                       | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |       703 | NS      | $320163.76    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                     | Allianz SE (Registered)                                                | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |        74 | NS      | $32731.08     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ANA Holdings, Inc.                             | ANA Holdings, Inc.                                                     | CUSIP: N/A<br>LEI: 5493008IRKIY0G3TE305       | Long             | EC               | CORP              | JP        |     10700 | NS      | $208437.05    | 0.35%             |  |  |  | No            |                  1 | On Loan: —       |
| KDDI Corp.                                     | KDDI Corp.                                                             | CUSIP: N/A<br>LEI: 5299003FU7V4I45FU310       | Long             | EC               | CORP              | JP        |     31300 | NS      | $528869.77    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| SGS SA                                         | SGS SA (Registered)                                                    | CUSIP: N/A<br>LEI: 2138007JNS19JHNA2336       | Long             | EC               | CORP              | CH        |      4218 | NS      | $508318.16    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Australian Dollar                              | Australian Dollar                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | AU        |      5147 | OU      | $3605.88      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell plc                                      | Shell plc                                                              | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |     13283 | NS      | $509279.05    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises, Inc.                     | Ferguson Enterprises, Inc.                                             | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |      2146 | NS      | $541779.16    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| CGI, Inc.                                      | CGI, Inc.                                                              | CUSIP: 12532H104<br>LEI: 549300WSRCZY73ZG3090 | Long             | EC               | CORP              | CA        |      2664 | NS      | $229582.25    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Suntory Beverage & Food Ltd.                   | Suntory Beverage & Food Ltd.                                           | CUSIP: N/A<br>LEI: 549300FONLMVK7YYYH41       | Long             | EC               | CORP              | JP        |      6300 | NS      | $199014.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Airlines Ltd.                        | Singapore Airlines Ltd.                                                | CUSIP: N/A<br>LEI: 549300ZG62N2599PWR15       | Long             | EC               | CORP              | SG        |      5400 | NS      | $27021.28     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan Pacific International Holdings Corp.       | Pan Pacific International Holdings Corp.                               | CUSIP: N/A<br>LEI: 529900QLHJM2E18A5763       | Long             | EC               | CORP              | JP        |     75700 | NS      | $449459.55    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Motor Corp.                             | Toyota Motor Corp.                                                     | CUSIP: N/A<br>LEI: 5493006W3QUS5LMH6R84       | Long             | EC               | CORP              | JP        |      4500 | NS      | $102217.04    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Jardine Matheson Holdings Ltd.                 | Jardine Matheson Holdings Ltd.                                         | CUSIP: N/A<br>LEI: 2138009KENVUNWOLPK41       | Long             | EC               | CORP              | SG        |      3500 | NS      | $254695.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| WH Group Ltd.                                  | WH Group Ltd.                                                          | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               | CORP              | HK        |    219000 | NS      | $257426.02    | 0.43%             |  |  |  | Yes           |                  1 | On Loan: No      |
| N/A                                            | Forward Foreign Currency Contract                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-731.64      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                 | Takeda Pharmaceutical Co. Ltd.                                         | CUSIP: N/A<br>LEI: 549300ZLMVP4X0OGR454       | Long             | EC               | CORP              | JP        |     17000 | NS      | $577687.02    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp.                  | Wheaton Precious Metals Corp.                                          | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |      1961 | NS      | $259782.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Geberit AG                                     | Geberit AG (Registered)                                                | CUSIP: N/A<br>LEI: 52990093Z5OHD6T7BS47       | Long             | EC               | CORP              | CH        |       629 | NS      | $481603.01    | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| Singapore Dollar                               | Singapore Dollar                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SG        |      2520 | OU      | $1985.72      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurich Insurance Group AG                      | Zurich Insurance Group AG                                              | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               | CORP              | CH        |       888 | NS      | $633091.36    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Co. Ltd.                        | Mitsui Fudosan Co. Ltd.                                                | CUSIP: N/A<br>LEI: 353800ND4ZKNZDYKMF33       | Long             | EC               | CORP              | JP        |     29000 | NS      | $332279.92    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Aena SME SA                                    | Aena SME SA                                                            | CUSIP: N/A<br>LEI: 959800R7QMXKF0NFMT29       | Long             | EC               | CORP              | ES        |     16539 | NS      | $516091.55    | 0.85%             |  |  |  | Yes           |                  1 | On Loan: No      |
| West Japan Railway Co.                         | West Japan Railway Co.                                                 | CUSIP: N/A<br>LEI: 353800QGUXHZ7EBCR121       | Long             | EC               | CORP              | JP        |     11100 | NS      | $227310.39    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Secom Co. Ltd.                                 | Secom Co. Ltd.                                                         | CUSIP: N/A<br>LEI: 529900TYCL9N3E9PGE47       | Long             | EC               | CORP              | JP        |      6900 | NS      | $253125.24    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollarama, Inc.                                | Dollarama, Inc.                                                        | CUSIP: 25675T107<br>LEI: 5493002GJ0NJP1HI0C79 | Long             | EC               | CORP              | CA        |      2997 | NS      | $406121.55    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Astellas Pharma, Inc.                          | Astellas Pharma, Inc.                                                  | CUSIP: N/A<br>LEI: 529900IB708DY2HBBB35       | Long             | EC               | CORP              | JP        |      7400 | NS      | $102849.73    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Music Group NV                       | Universal Music Group NV                                               | CUSIP: N/A<br>LEI: 724500GJBUL3D9TW9Y18       | Long             | EC               | CORP              | NL        |      7622 | NS      | $187516.15    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                     | Siemens AG (Registered)                                                | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |       444 | NS      | $135378.84    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Generale des Etablissements Michelin SCA   | Cie Generale des Etablissements Michelin SCA                           | CUSIP: N/A<br>LEI: 549300SOSI58J6VIW052       | Long             | EC               | CORP              | FR        |      1406 | NS      | $52437.51     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CF SECURED LLC                                 | Treasury Repurchase Agreement                                          | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |   2373055 | PA      | $2373055.04   | 3.93%             |  |  |  | No            |                  2 | On Loan: No      |
| ACS Actividades de Construccion y Servicios SA | ACS Actividades de Construccion y Servicios SA                         | CUSIP: N/A<br>LEI: 95980020140005558665       | Long             | EC               | CORP              | ES        |      3145 | NS      | $354128.17    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca plc                                | AstraZeneca plc                                                        | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |      1739 | NS      | $324542.61    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Fisher & Paykel Healthcare Corp. Ltd.          | Fisher & Paykel Healthcare Corp. Ltd.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NZ        |      1443 | NS      | $33960.59     | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                            | MSCI EAFE E-Mini Index                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         4 | NC      | $19538.80     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Otsuka Holdings Co. Ltd.                       | Otsuka Holdings Co. Ltd.                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      4900 | NS      | $293536.24    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Beiersdorf AG                                  | Beiersdorf AG                                                          | CUSIP: N/A<br>LEI: L47NHHI0Z9X22DV46U41       | Long             | EC               | CORP              | DE        |      1295 | NS      | $154752.94    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Prime Site AG                            | Swiss Prime Site AG (Registered)                                       | CUSIP: N/A<br>LEI: 506700XI9H64OPR34158       | Long             | EC               | CORP              | CH        |      3145 | NS      | $536248.94    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CCL Industries, Inc.                           | CCL Industries, Inc., Class B                                          | CUSIP: 124900309<br>LEI: 549300TD3EMSRRC0YH75 | Long             | EC               | CORP              | CA        |      4773 | NS      | $289238.55    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Galp Energia SGPS SA                           | Galp Energia SGPS SA                                                   | CUSIP: N/A<br>LEI: 2138003319Y7NM75FG53       | Long             | EC               | CORP              | PT        |      1591 | NS      | $31665.43     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Unicharm Corp.                                 | Unicharm Corp.                                                         | CUSIP: N/A<br>LEI: 353800UQ4BZIJTAQEG85       | Long             | EC               | CORP              | JP        |     28600 | NS      | $174165.95    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Nice Ltd.                                      | Nice Ltd.                                                              | CUSIP: N/A<br>LEI: 254900YTY4EF5Z4W0A51       | Long             | EC               | CORP              | IL        |      1073 | NS      | $114959.33    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Corp.                                 | SoftBank Corp.                                                         | CUSIP: N/A<br>LEI: 353800M1YCTS9JRBJ535       | Long             | EC               | CORP              | JP        |    377400 | NS      | $511322.44    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Hongkong Land Holdings Ltd.                    | Hongkong Land Holdings Ltd.                                            | CUSIP: N/A<br>LEI: 213800XCHYNRPAYGXW28       | Long             | EC               | CORP              | SG        |     33300 | NS      | $282717.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| MTR Corp. Ltd.                                 | MTR Corp. Ltd.                                                         | CUSIP: N/A<br>LEI: 254900IH4U9NHH9AQM97       | Long             | EC               | CORP              | HK        |     32000 | NS      | $141690.46    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Kone OYJ                                       | Kone OYJ, Class B                                                      | CUSIP: N/A<br>LEI: 2138001CNF45JP5XZK38       | Long             | EC               | CORP              | FI        |      7215 | NS      | $520321.15    | 0.86%             |  |  |  | No            |                  1 | On Loan: —       |
| Engie SA                                       | Engie SA                                                               | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |     19499 | NS      | $582244.33    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizrahi Tefahot Bank Ltd.                      | Mizrahi Tefahot Bank Ltd.                                              | CUSIP: N/A<br>LEI: YZO9YEGEO4VYDZMDWF93       | Long             | EC               | CORP              | IL        |      6475 | NS      | $509971.20    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                                      | Nestle SA (Registered)                                                 | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |     10064 | NS      | $959677.32    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Admiral Group plc                              | Admiral Group plc                                                      | CUSIP: N/A<br>LEI: 213800FGVM7Z9EJB2685       | Long             | EC               | CORP              | GB        |      5587 | NS      | $210835.92    | 0.35%             |  |  |  | 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      | $-1150.91     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fortis, Inc.                                   | Fortis, Inc.                                                           | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               | CORP              | CA        |      5528 | NS      | $296372.48    | 0.49%             |  |  |  | No            |                  1 | On Loan: —       |
| Kongsberg Gruppen ASA                          | Kongsberg Gruppen ASA                                                  | CUSIP: N/A<br>LEI: 5967007LIEEXZXJ9HK73       | Long             | EC               | CORP              | NO        |     12395 | NS      | $426830.49    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Obic Co. Ltd.                                  | Obic Co. Ltd.                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     14100 | NS      | $392763.52    | 0.65%             |  |  |  | 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        |     96000 | NS      | $506938.81    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CLP Holdings Ltd.                              | CLP Holdings Ltd.                                                      | CUSIP: N/A<br>LEI: 25490002BUTSMP94GO68       | Long             | EC               | CORP              | HK        |     28000 | NS      | $265131.82    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunzl plc                                      | Bunzl plc                                                              | CUSIP: N/A<br>LEI: 213800Q1Q9DV4L78UM09       | Long             | EC               | CORP              | GB        |      4995 | NS      | $140377.88    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Oriental Land Co. Ltd.                         | Oriental Land Co. Ltd.                                                 | CUSIP: N/A<br>LEI: 353800PIFKBZ6KTU5994       | Long             | EC               | CORP              | JP        |     10100 | NS      | $177401.47    | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Pearson plc                                    | Pearson plc                                                            | CUSIP: N/A<br>LEI: 2138004JBXWWJKIURC57       | Long             | EC               | CORP              | GB        |     17057 | NS      | $224093.53    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| GFL Environmental, Inc.                        | GFL Environmental, Inc.                                                | CUSIP: 36168Q104<br>LEI: 894500E7NLBY9VZRT696 | Long             | EC               | CORP              | CA        |      2072 | NS      | $89496.20     | 0.15%             |  |  |  | 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      | $1232.52      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cathay Pacific Airways Ltd.                    | Cathay Pacific Airways Ltd.                                            | CUSIP: N/A<br>LEI: EQNZNT235RBOJ6LJQZ02       | Long             | EC               | CORP              | HK        |    284000 | NS      | $445835.31    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Givaudan SA                                    | Givaudan SA (Registered)                                               | CUSIP: N/A<br>LEI: 213800SVRMQA1TD91D41       | Long             | EC               | CORP              | CH        |       111 | NS      | $430709.69    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                            | Deutsche Telekom AG (Registered)                                       | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               | CORP              | DE        |     24494 | NS      | $820853.72    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                    | Novartis AG (Registered)                                               | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |     15170 | NS      | $2258016.23   | 3.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City Ltd.              | Canadian Pacific Kansas City Ltd.                                      | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1036 | NS      | $77438.92     | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| TELUS Corp.                                    | TELUS Corp.                                                            | CUSIP: 87971M103<br>LEI: 894500WE70KKZRQMBU11 | Long             | EC               | CORP              | CA        |     14393 | NS      | $201947.35    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Software, Inc.                   | Constellation Software, Inc.                                           | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |         7 | NS      | $12990.23     | 0.02%             |  |  |  | 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      | $1494.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tryg A/S                                       | Tryg A/S                                                               | CUSIP: N/A<br>LEI: 213800ZRS8AC4LSTCE39       | Long             | EC               | CORP              | DK        |      8880 | NS      | $216581.92    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Ascendas REIT                       | CapitaLand Ascendas REIT                                               | CUSIP: N/A<br>LEI: 549300ILIBAEMQZK3L20       | Long             | EC               | CORP              | SG        |     48100 | NS      | $108026.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings plc                              | HSBC Holdings plc                                                      | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |     16724 | NS      | $294992.99    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Schindler Holding AG                           | Schindler Holding AG (Registered)                                      | CUSIP: N/A<br>LEI: 5299007DRLI319H7Q933       | Long             | EC               | CORP              | CH        |        74 | NS      | $27339.78     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Autotrader Group plc                           | Autotrader Group plc                                                   | CUSIP: N/A<br>LEI: 213800QLK9BZILB1DI86       | Long             | EC               | CORP              | GB        |      8288 | NS      | $61187.86     | 0.10%             |  |  |  | Yes           |                  1 | On Loan: No      |
| EURO                                           | EURO                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |      9159 | OU      | $10896.55     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| British Pound                                  | British Pound                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | GB        |     12631 | OU      | $17333.27     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Metro, Inc.                                    | Metro, Inc., Class A                                                   | CUSIP: 59162N109<br>LEI: 549300KQ7DCG4IXSNW78 | Long             | EC               | CORP              | CA        |      3367 | NS      | $224748.46    | 0.37%             |  |  |  | No            |                  1 | On Loan: —       |
| Emera, Inc.                                    | Emera, Inc.                                                            | CUSIP: 290876101<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | EC               | CORP              | CA        |      2183 | NS      | $108799.37    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Flughafen Zurich AG                            | Flughafen Zurich AG (Registered)                                       | CUSIP: N/A<br>LEI: 529900PFO97GCN5SYB55       | Long             | EC               | CORP              | CH        |        37 | NS      | $11512.50     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgestone Corp.                              | Bridgestone Corp.                                                      | CUSIP: N/A<br>LEI: 549300DHPOF90OYYD780       | Long             | EC               | CORP              | JP        |     12600 | NS      | $284655.78    | 0.47%             |  |  |  | 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      | $-1211.40     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce             | Canadian Imperial Bank of Commerce                                     | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               | CORP              | CA        |     10027 | NS      | $931800.52    | 1.54%             |  |  |  | No            |                  1 | On Loan: —       |
| Singapore Exchange Ltd.                        | Singapore Exchange Ltd.                                                | CUSIP: N/A<br>LEI: 549300IQ650PPXM76X03       | Long             | EC               | CORP              | SG        |     35900 | NS      | $498752.56    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Klepierre SA                                   | Klepierre SA                                                           | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |      8917 | NS      | $344127.06    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Integrated Commercial Trust         | CapitaLand Integrated Commercial Trust                                 | CUSIP: N/A<br>LEI: 54930031292WUTXF0L29       | Long             | EC               | CORP              | SG        |    255300 | NS      | $480825.06    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| EMS-Chemie Holding AG                          | EMS-Chemie Holding AG (Registered)                                     | CUSIP: N/A<br>LEI: 529900G1XFTGSE0DIX60       | Long             | EC               | CORP              | CH        |        24 | NS      | $18731.25     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** FlexShares Trust

**Signature:** Randal Rein

**Name of Signer:** Randal Rein

**Title:** Treasurer and PFO