# EDGAR Filing Document

**Accession Number:** 0001491978
**File Stem:** 0002071691-25-002068
**Filing Date:** 2025-9
**Character Count:** 79594
**Document Hash:** dd0f9731f9fefd7d90493a2a5e569878
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-002068.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0002071691-25-002068

**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:** 251342645

**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 Index Fund (Series ID: S000038876)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000119640 | FlexShares International Quality Dividend Index Fund | IQDF            |

## 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 Index Fund

- **b. EDGAR series identifier (if any):** S000038876

- **c. LEI of Series:** 549300OJOGU0VHUBNE56

**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:** $781657414.17

**Total Liabilities:** $23886223.95

**Net Assets:** $757771190.22

**Cash Not Reported:** $10792929.48

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000119640 | 4.34%                | 2.83%                | 1.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $43766.80                | $22724166.62                               |
| Month 2  | $6088594.15              | $10359708.89                               |
| Month 3  | $-19223.33               | $5764714.99                                |

### 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        |      2933 | NS      | $3978448.99   | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                             | Forward Foreign Currency Contract               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $10190.07     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Orange SA                                       | Orange SA                                       | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               | CORP              | FR        |    152344 | NS      | $2326905.27   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank of Canada                         | National Bank of Canada                         | CUSIP: 633067103<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | EC               | CORP              | CA        |      3058 | NS      | $318794.65    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Mitsui & Co. Ltd.                               | Mitsui & Co. Ltd.                               | CUSIP: N/A<br>LEI: 2NRSB4GOU9DD6CNW5R48       | Long             | EC               | CORP              | JP        |     66000 | NS      | $1359513.61   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Nien Made Enterprise Co. Ltd.                   | Nien Made Enterprise Co. Ltd.                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    355023 | NS      | $5108715.25   | 0.67%             |  |  |  | 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      | $17792.06     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Evonik Industries AG                            | Evonik Industries AG                            | CUSIP: N/A<br>LEI: 41GUOJQTALQHLF39XJ34       | Long             | EC               | CORP              | DE        |    248254 | NS      | $4963910.35   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Largan Precision Co. Ltd.                       | Largan Precision Co. Ltd.                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |      5000 | NS      | $396180.58    | 0.05%             |  |  |  | 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        |   3058000 | NS      | $5593997.45   | 0.74%             |  |  |  | No            |                  1 | On Loan: —       |
| Open Text Corp.                                 | Open Text Corp.                                 | CUSIP: 683715106<br>LEI: 549300HP7ONDQODZJV16 | Long             | EC               | CORP              | CA        |     50596 | NS      | $1492390.79   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Canadian Natural Resources Ltd.                 | Canadian Natural Resources Ltd.                 | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |    136776 | NS      | $4339080.22   | 0.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Evolution AB                                    | Evolution AB                                    | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               | CORP              | SE        |     45870 | NS      | $4100185.25   | 0.54%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Telenor ASA                                     | Telenor ASA                                     | CUSIP: N/A<br>LEI: 549300IM1QSBY4SLPM26       | Long             | EC               | CORP              | NO        |    115648 | NS      | $1783011.29   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Unipro PAO                                      | Unipro PAO                                      | CUSIP: N/A<br>LEI: 253400DR5QSH8MEGZZ11       | Long             | EC               | CORP              | RU        | 125500000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Astra International Tbk. PT                     | Astra International Tbk. PT                     | CUSIP: N/A<br>LEI: 529900L49TRJOMG4DK47       | Long             | EC               | CORP              | ID        |  15234400 | NS      | $4721691.89   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Magna International, Inc.                       | Magna International, Inc.                       | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |     47260 | NS      | $1942290.12   | 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        |   5838000 | NS      | $6135477.71   | 0.81%             |  |  |  | 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        |    834000 | NS      | $1767867.52   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                             | Forward Foreign Currency Contract               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $159.77       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ING Groep NV                                    | ING Groep NV                                    | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |    205164 | NS      | $4811471.15   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Subaru Corp.                                    | Subaru Corp.                                    | CUSIP: N/A<br>LEI: 549300N244BVAEE6HH86       | Long             | EC               | CORP              | JP        |    177100 | NS      | $3270869.13   | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| Toronto-Dominion Bank (The)                     | Toronto-Dominion Bank (The)                     | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | CA        |     84234 | NS      | $6148707.30   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp.                                | Sony Group Corp.                                | CUSIP: N/A<br>LEI: 529900R5WX9N2OI2N910       | Long             | EC               | CORP              | JP        |     21400 | NS      | $523570.88    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Novatek Microelectronics Corp.                  | Novatek Microelectronics Corp.                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    324770 | NS      | $5168464.70   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| PetroChina Co. Ltd.                             | PetroChina Co. Ltd., Class H                    | CUSIP: N/A<br>LEI: 529900RPY4YG47TRSV05       | Long             | EC               | CORP              | HK        |   2338000 | NS      | $2284389.81   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinotrans Ltd.                                  | Sinotrans Ltd., Class H                         | CUSIP: N/A<br>LEI: 5299005U1RZLKVFWR249       | Long             | EC               | CORP              | HK        |  10564000 | NS      | $5867393.63   | 0.77%             |  |  |  | No            |                  1 | On Loan: —       |
| Hong Kong & China Gas Co. Ltd.                  | Hong Kong & China Gas Co. Ltd.                  | CUSIP: N/A<br>LEI: 254900P7BETXGC7YU827       | Long             | EC               | CORP              | HK        |   1946000 | NS      | $1737765.61   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Julius Baer Group Ltd.                          | Julius Baer Group Ltd.                          | CUSIP: N/A<br>LEI: 5299007MF0604ZGJER92       | Long             | EC               | CORP              | CH        |     25298 | NS      | $1720282.69   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Chailease Holding Co. Ltd.                      | Chailease Holding Co. Ltd.                      | CUSIP: N/A<br>LEI: 529900L76E6T0JCM3J27       | Long             | EC               | CORP              | TW        |   1188651 | NS      | $4619600.17   | 0.61%             |  |  |  | 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      | $5040.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                                       | Sanofi SA                                       | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               | CORP              | FR        |      1946 | NS      | $175599.88    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Next plc                                        | Next plc                                        | CUSIP: N/A<br>LEI: 213800WQD8ECPZP9PH98       | Long             | EC               | CORP              | GB        |      9174 | NS      | $1494484.83   | 0.20%             |  |  |  | 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        |     27800 | NS      | $313106.75    | 0.04%             |  |  |  | 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        |   1362200 | NS      | $8728491.72   | 1.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Fortescue Ltd.                                  | Fortescue Ltd.                                  | CUSIP: N/A<br>LEI: 529900VEJFORCO6I4826       | Long             | EC               | CORP              | AU        |    536540 | NS      | $6138669.23   | 0.81%             |  |  |  | No            |                  1 | On Loan: —       |
| Sumitomo Corp.                                  | Sumitomo Corp.                                  | CUSIP: N/A<br>LEI: V82KK8NH1P0JS71FJC05       | Long             | EC               | CORP              | JP        |     83400 | NS      | $2139100.97   | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| British American Tobacco plc                    | British American Tobacco plc                    | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |    130660 | NS      | $6985520.01   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstRand Ltd.                                  | FirstRand Ltd.                                  | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |    122876 | NS      | $526363.89    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedbank AB                                     | Swedbank AB, Class A                            | CUSIP: N/A<br>LEI: M312WZV08Y7LYUC71685       | Long             | EC               | CORP              | SE        |    230462 | NS      | $6165457.10   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Komatsu Ltd.                                    | Komatsu Ltd.                                    | CUSIP: N/A<br>LEI: 5493004LQ0B4T7QPQV17       | Long             | EC               | CORP              | JP        |     64700 | NS      | $2091534.60   | 0.28%             |  |  |  | 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        |   1278800 | NS      | $1345590.83   | 0.18%             |  |  |  | Yes           |                  1 | On Loan: —       |
| N/A                                             | Forward Foreign Currency Contract               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $494.90       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| China Resources Land Ltd.                       | China Resources Land Ltd.                       | CUSIP: N/A<br>LEI: 5299001HL0TU7X15HK51       | Long             | EC               | CORP              | HK        |   1668000 | NS      | $6130165.61   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Nitto Denko Corp.                               | Nitto Denko Corp.                               | CUSIP: N/A<br>LEI: 3538009GX5P09USH2J25       | Long             | EC               | CORP              | JP        |     93900 | NS      | $1959798.66   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group plc                              | Vodafone Group plc                              | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               | CORP              | GB        |   2043022 | NS      | $2217519.92   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| AP Moller - Maersk A/S                          | AP Moller - Maersk A/S, Class B                 | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |      2914 | NS      | $5808021.66   | 0.77%             |  |  |  | No            |                  1 | On Loan: —       |
| Mercedes-Benz Group AG                          | Mercedes-Benz Group AG                          | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               | CORP              | DE        |     44758 | NS      | $2566511.22   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Elisa OYJ                                       | Elisa OYJ                                       | CUSIP: N/A<br>LEI: 743700TU2S3DXWGU7H32       | Long             | EC               | CORP              | FI        |      8618 | NS      | $445446.13    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Moscow Exchange MICEX-RTS PJSC                  | Moscow Exchange MICEX-RTS PJSC                  | CUSIP: N/A<br>LEI: 253400M5M1222KPNWE87       | Long             | EC               | CORP              | RU        |    775590 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Barclays plc                                    | Barclays plc                                    | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |    807312 | NS      | $3966807.08   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Bank Slaski SA                              | ING Bank Slaski SA                              | CUSIP: N/A<br>LEI: 259400YLRTOBISHBVX41       | Long             | EC               | CORP              | PL        |     18904 | NS      | $1688399.57   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Jarir Marketing Co.                             | Jarir Marketing Co.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |    631338 | NS      | $2162750.47   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Komercni Banka A/S                              | Komercni Banka A/S                              | CUSIP: N/A<br>LEI: IYKCAVNFR8QGF00HV840       | Long             | EC               | CORP              | CZ        |     31414 | NS      | $1504517.32   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                  | BNP Paribas SA                                  | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               | CORP              | FR        |     66720 | NS      | $6113731.94   | 0.81%             |  |  |  | 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        |    538447 | NS      | $20926326.16  | 2.76%             |  |  |  | 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        |    639000 | NS      | $4238947.99   | 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        |   9220000 | NS      | $5261859.87   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BE Semiconductor Industries NV                  | BE Semiconductor Industries NV                  | CUSIP: N/A<br>LEI: 7245007A1YFLI2GNYX06       | Long             | EC               | CORP              | NL        |      2502 | NS      | $341062.39    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kia Corp.                                       | Kia Corp.                                       | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |     15568 | NS      | $1148403.81   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Catcher Technology Co. Ltd.                     | Catcher Technology Co. Ltd.                     | CUSIP: N/A<br>LEI: 5299006PRSCU66N5JF55       | Long             | EC               | CORP              | TW        |    192000 | NS      | $1363732.31   | 0.18%             |  |  |  | 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        |    138444 | NS      | $6640894.32   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Legal & General Group plc                       | Legal & General Group plc                       | CUSIP: N/A<br>LEI: 213800JH9QQWHLO99821       | Long             | EC               | CORP              | GB        |    587414 | NS      | $1996245.88   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Post AG                                | Deutsche Post AG                                | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |    132050 | NS      | $5962387.30   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Shimano, Inc.                                   | Shimano, Inc.                                   | CUSIP: N/A<br>LEI: 529900L32YT3P9DECR10       | Long             | EC               | CORP              | JP        |       800 | NS      | $88109.24     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Mandiri Persero Tbk. PT                    | Bank Mandiri Persero Tbk. PT                    | CUSIP: N/A<br>LEI: 549300RSKQN4Z5ZSGH94       | Long             | EC               | CORP              | ID        |   5254200 | NS      | $1440075.48   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Want Want China Holdings Ltd.                   | Want Want China Holdings Ltd.                   | CUSIP: N/A<br>LEI: 5299005HZCEKX4O1J230       | Long             | EC               | CORP              | HK        |   1668000 | NS      | $1204784.71   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Eni SpA                                         | Eni SpA                                         | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               | CORP              | IT        |    159294 | NS      | $2718390.42   | 0.36%             |  |  |  | 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        |      3465 | NS      | $1873276.69   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Severstal PAO                                   | Severstal PAO                                   | CUSIP: N/A<br>LEI: 213800OKDPTV6K4ONO53       | Long             | EC               | CORP              | RU        |     58985 | 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        |   1251000 | NS      | $5745038.22   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke KPN NV                              | Koninklijke KPN NV                              | CUSIP: N/A<br>LEI: 549300YO0JZHAL7FVP81       | Long             | EC               | CORP              | NL        |    783960 | NS      | $3517343.16   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Grid Corp. of India Ltd.                  | Power Grid Corp. of India Ltd.                  | CUSIP: N/A<br>LEI: 3358009SHWZ3DZEQ4Z56       | Long             | EC               | CORP              | IN        |    269104 | NS      | $893954.13    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Polska Kasa Opieki SA                      | Bank Polska Kasa Opieki SA                      | CUSIP: N/A<br>LEI: 5493000LKS7B3UTF7H35       | Long             | EC               | CORP              | PL        |    117038 | NS      | $6416089.61   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiichi Sankyo Co. Ltd.                         | Daiichi Sankyo Co. Ltd.                         | CUSIP: N/A<br>LEI: 353800XGIU2IHQGC9504       | Long             | EC               | CORP              | JP        |    171300 | NS      | $4234266.92   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Powszechny Zaklad Ubezpieczen SA                | Powszechny Zaklad Ubezpieczen SA                | CUSIP: N/A<br>LEI: QLPCKOOKVX32FUELX240       | Long             | EC               | CORP              | PL        |    343052 | NS      | $5789806.38   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Electron Ltd.                             | Tokyo Electron Ltd.                             | CUSIP: N/A<br>LEI: 549300H5LSF8DP3RIJ34       | Long             | EC               | CORP              | JP        |     57800 | NS      | $10496521.48  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Telstra Group Ltd.                              | Telstra Group Ltd.                              | CUSIP: N/A<br>LEI: 894500WRW54CVN62K416       | Long             | EC               | CORP              | AU        |    609654 | NS      | $1950852.87   | 0.26%             |  |  |  | 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        |     78118 | NS      | $1452249.68   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| China Hongqiao Group Ltd.                       | China Hongqiao Group Ltd.                       | CUSIP: N/A<br>LEI: 3003009Q4IBFSDE24571       | Long             | EC               | CORP              | HK        |   2919000 | NS      | $7734420.38   | 1.02%             |  |  |  | No            |                  1 | On Loan: —       |
| BCE, Inc.                                       | BCE, Inc.                                       | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | US        |     92018 | NS      | $2146779.94   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Ltd.                                    | Hitachi Ltd.                                    | CUSIP: N/A<br>LEI: 549300T6IPOCDWLKC615       | Long             | EC               | CORP              | JP        |    166800 | NS      | $5205884.58   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia (The)                       | Bank of Nova Scotia (The)                       | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |     22240 | NS      | $1240086.51   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                        | Enel SpA                                        | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |   1064184 | NS      | $9418885.23   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Realtek Semiconductor Corp.                     | Realtek Semiconductor Corp.                     | CUSIP: N/A<br>LEI: 5299002E7F36O00MYY75       | Long             | EC               | CORP              | TW        |     90947 | NS      | $1752057.12   | 0.23%             |  |  |  | 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        |     76172 | NS      | $3674332.08   | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| Imperial Brands plc                             | Imperial Brands plc                             | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |    170692 | NS      | $6672650.53   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd.                      | Alibaba Group Holding Ltd.                      | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | US        |     33082 | NS      | $3990681.66   | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| Canadian National Railway Co.                   | Canadian National Railway Co.                   | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |      1946 | NS      | $182108.05    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa Securities Group, Inc.                    | Daiwa Securities Group, Inc.                    | CUSIP: N/A<br>LEI: 353800WRC7Y23PWFJG38       | Long             | EC               | CORP              | JP        |    250200 | NS      | $1757276.99   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Asset Management Ltd.                | Brookfield Asset Management Ltd., Class A       | CUSIP: 113004105<br>LEI: 549300CZ84WPNJZKY093 | Long             | EC               | CORP              | CA        |     93130 | NS      | $5755326.90   | 0.76%             |  |  |  | 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        |   1189500 | NS      | $5159550.96   | 0.68%             |  |  |  | No            |                  1 | On Loan: —       |
| Cie Financiere Richemont SA                     | Cie Financiere Richemont SA (Registered)        | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |      2224 | NS      | $365348.93    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Randstad NV                                     | Randstad NV                                     | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |     35584 | NS      | $1704045.60   | 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        |   7813746 | NS      | $5534173.17   | 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        |        82 | NC      | $126393.84    | 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        |       600 | NS      | $184909.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BP plc                                          | BP plc                                          | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               | CORP              | GB        |     46982 | NS      | $251647.77    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Telia Co. AB                                    | Telia Co. AB                                    | CUSIP: N/A<br>LEI: 213800FSR9RNDUOTXO25       | Long             | EC               | CORP              | SE        |    458978 | NS      | $1627618.25   | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| Sodexo SA                                       | Sodexo SA                                       | CUSIP: N/A<br>LEI: 969500LCBOG12HXPYM84       | Long             | EC               | CORP              | FR        |     15846 | NS      | $948541.01    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk. PT           | Bank Rakyat Indonesia Persero Tbk. PT           | CUSIP: N/A<br>LEI: 254900HB6S4B12GBNP64       | Long             | EC               | CORP              | ID        |  11731600 | NS      | $2645046.25   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Intertek Group plc                              | Intertek Group plc                              | CUSIP: N/A<br>LEI: 2138003GAT25WW1RN369       | Long             | EC               | CORP              | GB        |     80342 | NS      | $5252236.93   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Tobacco, Inc.                             | Japan Tobacco, Inc.                             | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |     78000 | NS      | $2237974.68   | 0.30%             |  |  |  | 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        |      8896 | NS      | $860669.82    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd.                           | Tencent Holdings Ltd.                           | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | HK        |    114200 | NS      | $8001273.89   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Indian Oil Corp. Ltd.                           | Indian Oil Corp. Ltd.                           | CUSIP: N/A<br>LEI: 335800J8OBWE4VFUDG88       | Long             | EC               | CORP              | IN        |    907114 | NS      | $1507943.21   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Danske Bank A/S                                 | Danske Bank A/S                                 | CUSIP: N/A<br>LEI: MAES062Z21O4RZ2U7M96       | Long             | EC               | CORP              | DK        |     55044 | NS      | $2199277.90   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                             | MSCI EAFE E-Mini Index                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        73 | NC      | $-81366.51    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                 | ASML Holding NV                                 | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |      5560 | NS      | $3901583.24   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Lite-On Technology Corp.                        | Lite-On Technology Corp.                        | CUSIP: N/A<br>LEI: 2549005GU1PQ73SZBT32       | Long             | EC               | CORP              | TW        |    471000 | NS      | $1877845.72   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CF SECURED LLC                                  | Treasury Repurchase Agreement                   | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |  19144715 | PA      | $19144714.76  | 2.53%             |  |  |  | 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        |        73 | NS      | $144211.91    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| REC Ltd.                                        | REC Ltd.                                        | CUSIP: N/A<br>LEI: 335800B4YRYWAMIJZ374       | Long             | EC               | CORP              | IN        |    710290 | NS      | $3204459.06   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Hang Seng Bank Ltd.                             | Hang Seng Bank Ltd.                             | CUSIP: N/A<br>LEI: 5493009Z5F07LWZYMK62       | Long             | EC               | CORP              | HK        |    120100 | NS      | $1753307.01   | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Orient Overseas International Ltd.              | Orient Overseas International Ltd.              | CUSIP: N/A<br>LEI: 529900DQ426GJO276W95       | Long             | EC               | CORP              | HK        |    278000 | NS      | $5011082.80   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU Corp.                                    | ITOCHU Corp.                                    | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |    153200 | NS      | $8075587.89   | 1.07%             |  |  |  | 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        |    139000 | NS      | $1006643.31   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo SpA                             | Intesa Sanpaolo SpA                             | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               | CORP              | IT        |    943532 | NS      | $5718174.02   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Kawasaki Kisen Kaisha Ltd.                      | Kawasaki Kisen Kaisha Ltd.                      | CUSIP: N/A<br>LEI: 353800FL04R73DS5P870       | Long             | EC               | CORP              | JP        |    147200 | NS      | $2095591.22   | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Woodside Energy Group Ltd.                      | Woodside Energy Group Ltd.                      | CUSIP: N/A<br>LEI: 2549005ZC5RXAOO7FH41       | Long             | EC               | CORP              | AU        |    155124 | NS      | $2655718.46   | 0.35%             |  |  |  | No            |                  1 | On Loan: —       |
| BHP Group Ltd.                                  | BHP Group Ltd.                                  | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               | CORP              | AU        |    642180 | NS      | $16228603.03  | 2.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Fertiglobe plc                                  | Fertiglobe plc                                  | CUSIP: N/A<br>LEI: 984500A99D1B4CPBF744       | Long             | EC               | CORP              | AE        |   6340346 | NS      | $4488007.30   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.           | Sumitomo Mitsui Financial Group, Inc.           | CUSIP: N/A<br>LEI: 35380028MYWPB6AUO129       | Long             | EC               | CORP              | JP        |    114800 | NS      | $2940655.84   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek, Inc.                                  | MediaTek, Inc.                                  | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |    196688 | NS      | $9027977.55   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL BK OF CANADA FINANCIAL INC             | Other Repurchase Agreement                      | CUSIP: N/A<br>LEI: 549300K66TF1ST7A3V76       | Long             | RA               | CORP              | CA        |   1000000 | PA      | $1000000.00   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Nintendo Co. Ltd.                               | Nintendo Co. Ltd.                               | CUSIP: N/A<br>LEI: 353800FEEXU6I9M0ZF27       | Long             | EC               | CORP              | JP        |     91000 | NS      | $7673278.18   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                          | SAP SE                                          | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               | CORP              | DE        |     15290 | NS      | $4389042.51   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Canara Bank                                     | Canara Bank                                     | CUSIP: N/A<br>LEI: 335800E4RH82Z8XC3C30       | Long             | EC               | CORP              | IN        |    232408 | NS      | $284544.68    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| JFE Holdings, Inc.                              | JFE Holdings, Inc.                              | CUSIP: N/A<br>LEI: 3538002Y11Y03NA9B530       | Long             | EC               | CORP              | JP        |    139000 | NS      | $1615870.96   | 0.21%             |  |  |  | No            |                  1 | On Loan: —       |
| WPP plc                                         | WPP plc                                         | CUSIP: N/A<br>LEI: 549300LSGBXPYHXGDT93       | Long             | EC               | CORP              | GB        |    710846 | NS      | $3856862.02   | 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        |    305800 | NS      | $4288454.10   | 0.57%             |  |  |  | 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      | $1469.31      | 0.00%             |  |  |  | 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        |  41533200 | NS      | $4669487.69   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Banca Mediolanum SpA                            | Banca Mediolanum SpA                            | CUSIP: N/A<br>LEI: 7LVZJ6XRIE7VNZ4UBX81       | Long             | EC               | CORP              | IT        |    333322 | NS      | $5913307.28   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                            | Royal Bank of Canada                            | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | CA        |     89238 | NS      | $11475624.04  | 1.51%             |  |  |  | No            |                  1 | On Loan: —       |
| Mitsubishi Corp.                                | Mitsubishi Corp.                                | CUSIP: N/A<br>LEI: KVIPTY4PULAPGC1VVD26       | Long             | EC               | CORP              | JP        |    147700 | NS      | $2932506.73   | 0.39%             |  |  |  | No            |                  1 | On Loan: —       |
| Nomura Holdings, Inc.                           | Nomura Holdings, Inc.                           | CUSIP: N/A<br>LEI: 549300B3CEAHYG7K8164       | Long             | EC               | CORP              | JP        |    317100 | NS      | $2117581.98   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever plc                                    | Unilever plc                                    | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               | CORP              | GB        |      9452 | NS      | $551366.05    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Feng TAY Enterprise Co. Ltd.                    | Feng TAY Enterprise Co. Ltd.                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     32123 | NS      | $128072.27    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                                | Roche Holding AG                                | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |     40032 | NS      | $12674376.21  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                      | Allianz SE (Registered)                         | CUSIP: N/A<br>LEI: 529900K9B0N5BT694847       | Long             | EC               | CORP              | DE        |      1112 | NS      | $441895.19    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever Indonesia Tbk. PT                      | Unilever Indonesia Tbk. PT                      | CUSIP: N/A<br>LEI: 549300MUHUFNRRI19O72       | Long             | EC               | CORP              | ID        |  24352800 | NS      | $2530737.65   | 0.33%             |  |  |  | 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        |     17236 | NS      | $880633.98    | 0.12%             |  |  |  | Yes           |                  1 | On Loan: No      |
| KDDI Corp.                                      | KDDI Corp.                                      | CUSIP: N/A<br>LEI: 5299003FU7V4I45FU310       | Long             | EC               | CORP              | JP        |     45800 | NS      | $756409.85    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SGS SA                                          | SGS SA (Registered)                             | CUSIP: N/A<br>LEI: 2138007JNS19JHNA2336       | Long             | EC               | CORP              | CH        |     34194 | NS      | $3486562.65   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Skandinaviska Enskilda Banken AB                | Skandinaviska Enskilda Banken AB, Class A       | CUSIP: N/A<br>LEI: F3JS33DEI6XQ4ZBPTN86       | Long             | EC               | CORP              | SE        |    361400 | NS      | $6346847.27   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ANZ Group Holdings Ltd.                         | ANZ Group Holdings Ltd.                         | CUSIP: N/A<br>LEI: 9845005D9C6BAA10BK72       | Long             | EC               | CORP              | AU        |    113702 | NS      | $2248920.04   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC                    | Treasury Repurchase Agreement                   | CUSIP: N/A<br>LEI: MBNUM2BPBDO7JBLYG310       | Long             | RA               | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Sberbank of Russia PJSC                         | Sberbank of Russia PJSC                         | CUSIP: N/A<br>LEI: 549300WE6TAF5EEWQS81       | Long             | EC               | CORP              | RU        |   1227390 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                             | Forward Foreign Currency Contract               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-16963.18    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chugai Pharmaceutical Co. Ltd.                  | Chugai Pharmaceutical Co. Ltd.                  | CUSIP: N/A<br>LEI: 529900T9LAII161DCN95       | Long             | EC               | CORP              | JP        |     27800 | NS      | $1359566.76   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Yankuang Energy Group Co. Ltd.                  | Yankuang Energy Group Co. Ltd., Class H         | CUSIP: N/A<br>LEI: 3003005N7A6HYZ4Z0K39       | Long             | EC               | CORP              | HK        |   1356000 | NS      | $1547740.13   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Shell plc                                       | Shell plc                                       | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | GB        |     62828 | NS      | $2254018.49   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Var Energi ASA                                  | Var Energi ASA                                  | CUSIP: N/A<br>LEI: 549300LIVN3FFOJN2K47       | Long             | EC               | CORP              | NO        |    535428 | NS      | $1854904.09   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Research Institute Ltd.                  | Nomura Research Institute Ltd.                  | CUSIP: N/A<br>LEI: 5299005F1HCVF4M4QN79       | Long             | EC               | CORP              | JP        |     83400 | NS      | $3335556.66   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                                | Roche Holding AG                                | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |       556 | NS      | $186782.59    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Marubeni Corp.                                  | Marubeni Corp.                                  | CUSIP: N/A<br>LEI: 4P4N3ORD02UGQT1T1W12       | Long             | EC               | CORP              | JP        |    111200 | NS      | $2300180.07   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Airlines Ltd.                         | Singapore Airlines Ltd.                         | CUSIP: N/A<br>LEI: 549300ZG62N2599PWR15       | Long             | EC               | CORP              | SG        |   1056400 | NS      | $5537071.72   | 0.73%             |  |  |  | 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      | $3579.90      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Carrefour SA                                    | Carrefour SA                                    | CUSIP: N/A<br>LEI: 549300B8P6MUJ1YWTS08       | Long             | EC               | CORP              | FR        |    103972 | NS      | $1495844.49   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| WH Group Ltd.                                   | WH Group Ltd.                                   | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               | CORP              | HK        |    834000 | NS      | $840374.52    | 0.11%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Hero MotoCorp Ltd.                              | Hero MotoCorp Ltd.                              | CUSIP: N/A<br>LEI: 335800Q49FBMZJTRLK49       | Long             | EC               | CORP              | IN        |    108698 | NS      | $5286942.66   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co. Ltd.                  | Takeda Pharmaceutical Co. Ltd.                  | CUSIP: N/A<br>LEI: 549300ZLMVP4X0OGR454       | Long             | EC               | CORP              | JP        |     39000 | NS      | $1088408.25   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Nemetschek SE                                   | Nemetschek SE                                   | CUSIP: N/A<br>LEI: 529900R0S2IX1S358J38       | Long             | EC               | CORP              | DE        |     38364 | NS      | $5756537.58   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Manulife Financial Corp.                        | Manulife Financial Corp.                        | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |    116204 | NS      | $3603244.35   | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| Turkiye Petrol Rafinerileri A/S                 | Turkiye Petrol Rafinerileri A/S                 | CUSIP: N/A<br>LEI: 789000RCNG97UV50EE03       | Long             | EC               | CORP              | TR        |    452862 | NS      | $1884275.41   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TD PRIME SERVICES LLC                           | Other Repurchase Agreement                      | CUSIP: N/A<br>LEI: 549300ZBQI1JB1844X09       | Long             | RA               | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| United Tractors Tbk. PT                         | United Tractors Tbk. PT                         | CUSIP: N/A<br>LEI: 529900N9ELYOWQV4FW14       | Long             | EC               | CORP              | ID        |   4058800 | NS      | $5956853.24   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                      | Siemens AG (Registered)                         | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               | CORP              | DE        |      5282 | NS      | $1359635.90   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca plc                                 | AstraZeneca plc                                 | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |     20016 | NS      | $2999520.78   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Santander Bank Polska SA                        | Santander Bank Polska SA                        | CUSIP: N/A<br>LEI: 259400LGXW3K0GDAG361       | Long             | EC               | CORP              | PL        |     39476 | NS      | $5808279.16   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIX Corp.                                      | ORIX Corp.                                      | CUSIP: N/A<br>LEI: 35380016EMHNBOVYE123       | Long             | EC               | CORP              | JP        |    205800 | NS      | $4649456.79   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto plc                                   | Rio Tinto plc                                   | CUSIP: N/A<br>LEI: 213800YOEO5OQ72G2R82       | Long             | EC               | CORP              | GB        |     73392 | NS      | $4373947.96   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                                     | Equinor ASA                                     | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               | CORP              | NO        |    125934 | NS      | $3275144.08   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                | TotalEnergies SE                                | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |     87570 | NS      | $5213873.23   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Kone OYJ                                        | Kone OYJ, Class B                               | CUSIP: N/A<br>LEI: 2138001CNF45JP5XZK38       | Long             | EC               | CORP              | FI        |     95076 | NS      | $5869709.58   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                        | Engie SA                                        | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               | CORP              | FR        |    118150 | NS      | $2653184.79   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BB Seguridade Participacoes SA                  | BB Seguridade Participacoes SA                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    834000 | NS      | $5020192.73   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica SA                                   | Telefonica SA                                   | CUSIP: 879382109<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |    388366 | NS      | $2010937.47   | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| Nestle SA                                       | Nestle SA (Registered)                          | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |     99524 | NS      | $8713941.75   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Admiral Group plc                               | Admiral Group plc                               | CUSIP: N/A<br>LEI: 213800FGVM7Z9EJB2685       | Long             | EC               | CORP              | GB        |     40310 | NS      | $1823306.07   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Coles Group Ltd.                                | Coles Group Ltd.                                | CUSIP: N/A<br>LEI: 549300OHQRG2HN8LZ793       | Long             | EC               | CORP              | AU        |    142614 | NS      | $1904388.78   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| KBC Group NV                                    | KBC Group NV                                    | CUSIP: N/A<br>LEI: 213800X3Q9LSAKRUWY91       | Long             | EC               | CORP              | BE        |     62828 | NS      | $6598442.09   | 0.87%             |  |  |  | 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        |   1361000 | NS      | $6120165.61   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| UPM-Kymmene OYJ                                 | UPM-Kymmene OYJ                                 | CUSIP: N/A<br>LEI: 213800EC6PW5VU4J9U64       | Long             | EC               | CORP              | FI        |     28078 | NS      | $731109.35    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Emirates Integrated Telecommunications Co. PJSC | Emirates Integrated Telecommunications Co. PJSC | CUSIP: N/A<br>LEI: 254900USBXS6XN200K29       | Long             | EC               | CORP              | AE        |   2258750 | NS      | $6149437.80   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Tele2 AB                                        | Tele2 AB, Class B                               | CUSIP: N/A<br>LEI: 213800EKD193RVI9HL76       | Long             | EC               | CORP              | SE        |    392536 | NS      | $6085237.07   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay Pacific Airways Ltd.                     | Cathay Pacific Airways Ltd.                     | CUSIP: N/A<br>LEI: EQNZNT235RBOJ6LJQZ02       | Long             | EC               | CORP              | HK        |   4085000 | NS      | $6088471.34   | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| GMK Norilskiy Nickel PAO                        | GMK Norilskiy Nickel PAO                        | CUSIP: N/A<br>LEI: 253400JPTEEW143W3E47       | Long             | EC               | CORP              | RU        |   1631500 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| China Feihe Ltd.                                | China Feihe Ltd.                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |   1946000 | NS      | $1157684.08   | 0.15%             |  |  |  | Yes           |                  1 | On Loan: No      |
| CaixaBank SA                                    | CaixaBank SA                                    | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |    744484 | NS      | $7029818.09   | 0.93%             |  |  |  | No            |                  1 | On Loan: —       |
| PTT Exploration & Production PCL                | PTT Exploration & Production PCL                | CUSIP: N/A<br>LEI: 2549001O8YYGP5N7Q076       | Long             | EC               | CORP              | TH        |    556000 | NS      | $2143696.45   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                     | Novartis AG (Registered)                        | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               | CORP              | CH        |    162352 | NS      | $18831272.56  | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| OPAP SA                                         | OPAP SA                                         | CUSIP: N/A<br>LEI: 213800M4NRGFJCI34834       | Long             | EC               | CORP              | GR        |    246030 | NS      | $5536130.90   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| TELUS Corp.                                     | TELUS Corp.                                     | CUSIP: 87971M103<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | EC               | CORP              | CA        |    105918 | NS      | $1709948.83   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Bureau Veritas SA                               | Bureau Veritas SA                               | CUSIP: N/A<br>LEI: 969500TPU5T3HA5D1F11       | Long             | EC               | CORP              | FR        |    166244 | NS      | $5145024.38   | 0.68%             |  |  |  | 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        |   3892000 | NS      | $6524677.71   | 0.86%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                             | Forward Foreign Currency Contract               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $6952.96      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortum OYJ                                      | Fortum OYJ                                      | CUSIP: N/A<br>LEI: 635400IUIZZIUJSAMF76       | Long             | EC               | CORP              | FI        |    328874 | NS      | $6056480.94   | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| Kumba Iron Ore Ltd.                             | Kumba Iron Ore Ltd.                             | CUSIP: N/A<br>LEI: 3789006C753402643048       | Long             | EC               | CORP              | ZA        |    310804 | NS      | $5177402.51   | 0.68%             |  |  |  | No            |                  1 | On Loan: —       |
| FinecoBank Banca Fineco SpA                     | FinecoBank Banca Fineco SpA                     | CUSIP: N/A<br>LEI: 549300L7YCATGO57ZE10       | Long             | EC               | CORP              | IT        |    267714 | NS      | $5736033.74   | 0.76%             |  |  |  | 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      | $65873.31     | 0.01%             |  |  |  | No            |                  2 | 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        |    667200 | NS      | $5957440.26   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings plc                               | HSBC Holdings plc                               | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |   1077250 | NS      | $13155241.05  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Henderson Land Development Co. Ltd.             | Henderson Land Development Co. Ltd.             | CUSIP: N/A<br>LEI: 529900SYQB7IVR9QGN76       | Long             | EC               | CORP              | HK        |    496000 | NS      | $1737579.62   | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| HCL Technologies Ltd.                           | HCL Technologies Ltd.                           | CUSIP: N/A<br>LEI: 549300C1F8OLYSOQYB65       | Long             | EC               | CORP              | IN        |    301074 | NS      | $5045123.64   | 0.67%             |  |  |  | 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        |    132900 | NS      | $3881162.16   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordea Bank Abp                                 | Nordea Bank Abp                                 | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               | CORP              | FI        |    455086 | NS      | $6667119.12   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                                      | L'Oreal SA                                      | CUSIP: N/A<br>LEI: 529900JI1GG6F7RKVI53       | Long             | EC               | CORP              | FR        |      8062 | NS      | $3592673.43   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd.                                    | Infosys Ltd.                                    | CUSIP: N/A<br>LEI: 335800TYLGG93MM7PR89       | Long             | EC               | CORP              | IN        |     68110 | NS      | $1173281.47   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Isuzu Motors Ltd.                               | Isuzu Motors Ltd.                               | CUSIP: N/A<br>LEI: 529900C0QSXVCC7AR494       | Long             | EC               | CORP              | JP        |    123500 | NS      | $1598167.71   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Cibest SA                                 | Grupo Cibest SA (Preference)                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CO        |    149008 | NS      | $1638500.21   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Coal India Ltd.                                 | Coal India Ltd.                                 | CUSIP: N/A<br>LEI: 335800NLJQZNHM9LBB31       | Long             | EC               | CORP              | IN        |    360288 | NS      | $1547903.24   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Emera, Inc.                                     | Emera, Inc.                                     | CUSIP: 290876101<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | EC               | CORP              | CA        |     41700 | NS      | $1962317.46   | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| Bouygues SA                                     | Bouygues SA                                     | CUSIP: N/A<br>LEI: 969500MOCLNQFNZN0D63       | Long             | EC               | CORP              | FR        |     44480 | NS      | $1840381.46   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Repsol SA                                       | Repsol SA                                       | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               | CORP              | ES        |    142336 | NS      | $2163453.68   | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| H & M Hennes & Mauritz AB                       | H & M Hennes & Mauritz AB, Class B              | CUSIP: N/A<br>LEI: 529900O5RR7R39FRDM42       | Long             | EC               | CORP              | SE        |    113702 | NS      | $1541881.98   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| DNB Bank ASA                                    | DNB Bank ASA                                    | CUSIP: N/A<br>LEI: 549300GKFG0RYRRQ1414       | Long             | EC               | CORP              | NO        |     23074 | NS      | $587976.84    | 0.08%             |  |  |  | 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      | $11231.43     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co. Ltd.                    | Samsung Electronics Co. Ltd.                    | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |     38364 | NS      | $1975187.19   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Origin Energy Ltd.                              | Origin Energy Ltd.                              | CUSIP: N/A<br>LEI: ZSN2LWNPYW6ISMRUC664       | Long             | EC               | CORP              | AU        |    246864 | NS      | $1854869.32   | 0.24%             |  |  |  | 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