# EDGAR Filing Document

**Accession Number:** 0001491978
**File Stem:** 0002071691-26-006209
**Filing Date:** 2026-3
**Character Count:** 69737
**Document Hash:** 336cede106fedc68c63d08061a617e76
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-006209.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0002071691-26-006209

**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:** 26788661

**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 Emerging Markets Quality Low Volatility Index Fund (Series ID: S000065839)

| Class ID   | Class Name                                                    | Ticker Symbol   |
|:---|:---|:---|
| C000212721 | FlexShares Emerging Markets Quality Low Volatility Index Fund | QLVE            |

## 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 Emerging Markets Quality Low Volatility Index Fund

- **b. EDGAR series identifier (if any):** S000065839

- **c. LEI of Series:** 549300CTSJ1UGMNAYU07

**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:** $15698785.09

**Total Liabilities:** $53927.60

**Net Assets:** $15644857.49

**Cash Not Reported:** $24466.87

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000212721 | -1.74%               | 2.03%                | 5.89%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $305319.99               | $-508809.16                                |
| Month 2  | $3570.45                 | $262586.13                                 |
| Month 3  | $150.79                  | $852160.37                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New Mexican Pesos                                  | New Mexican Pesos                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | MX        |      7393 | OU      | $426.16       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Bank Bhd.                                   | Public Bank Bhd.                                    | CUSIP: N/A<br>LEI: 549300L2RSQCVMOHGM20       | Long             | EC               | CORP              | MY        |    128000 | NS      | $158132.93    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Mobile Co. Ltd.                             | Taiwan Mobile Co. Ltd.                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     24000 | NS      | $80457.58     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MISC Bhd.                                          | MISC Bhd.                                           | CUSIP: N/A<br>LEI: 9845002055U77FF6B972       | Long             | EC               | CORP              | MY        |     24500 | NS      | $49720.95     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial & Commercial Bank of China Ltd.         | Industrial & Commercial Bank of China Ltd., Class H | CUSIP: N/A<br>LEI: 5493002ERZU2K9PZDL40       | Long             | EC               | CORP              | HK        |    180000 | NS      | $149583.21    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Krafton, Inc.                                      | Krafton, Inc.                                       | CUSIP: N/A<br>LEI: 988400CE024EWSCICK17       | Long             | EC               | CORP              | KR        |       630 | NS      | $111171.32    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| China Tower Corp. Ltd.                             | China Tower Corp. Ltd., Class H                     | CUSIP: N/A<br>LEI: 300300T6BNNP0L7O7H91       | Long             | EC               | CORP              | HK        |     55000 | NS      | $79298.82     | 0.51%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Unipro PAO                                         | Unipro PAO                                          | CUSIP: N/A<br>LEI: 253400DR5QSH8MEGZZ11       | Long             | EC               | CORP              | RU        |    726000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Divi's Laboratories Ltd.                           | Divi's Laboratories Ltd.                            | CUSIP: N/A<br>LEI: 335800C1DHFG1C9T1M03       | Long             | EC               | CORP              | IN        |      1120 | NS      | $73674.36     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Bosch Ltd.                                         | Bosch Ltd.                                          | CUSIP: N/A<br>LEI: 3358008TVK7S8BSVVW82       | Long             | EC               | CORP              | IN        |        15 | NS      | $5956.79      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi National Bank (The)                          | Saudi National Bank (The)                           | CUSIP: N/A<br>LEI: 5586006ZEFQ542K7CY16       | Long             | EC               | CORP              | SA        |       280 | NS      | $3348.92      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                                            | Vale SA                                             | CUSIP: N/A<br>LEI: 254900SMTWBX7RU2SR20       | Long             | EC               | CORP              | BR        |      2000 | NS      | $32210.56     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Lupin Ltd.                                         | Lupin Ltd.                                          | CUSIP: N/A<br>LEI: 335800HHXTESDEE2FC65       | Long             | EC               | CORP              | IN        |      2505 | NS      | $58624.97     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| South African Rand                                 | South African Rand                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | ZA        |       920 | OU      | $57.37        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bumrungrad Hospital PCL                            | Bumrungrad Hospital PCL                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |     16500 | NS      | $87835.69     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Malaysian Ringgit                                  | Malaysian Ringgit                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | MY        |       914 | OU      | $231.86       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Qatar National Bank QPSC                           | Qatar National Bank QPSC                            | CUSIP: N/A<br>LEI: 549300FFSRVBS0SQXY75       | Long             | EC               | CORP              | QA        |     17270 | NS      | $93915.41     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Malayan Banking Bhd.                               | Malayan Banking Bhd.                                | CUSIP: N/A<br>LEI: 5493004OT3TOY404V310       | Long             | EC               | CORP              | MY        |     38500 | NS      | $115246.07    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Meituan                                            | Meituan, Class B                                    | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | HK        |      4000 | NS      | $49784.24     | 0.32%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Bajaj Finance Ltd.                                 | Bajaj Finance Ltd.                                  | CUSIP: N/A<br>LEI: 335800YTEXC3DO4Z6F68       | Long             | EC               | CORP              | IN        |       520 | NS      | $5256.39      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Info Service PCL                          | Advanced Info Service PCL                           | CUSIP: N/A<br>LEI: 529900DU2YW1NO5RMU78       | Long             | EC               | CORP              | TH        |      6800 | NS      | $75423.49     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Kwality Wall's India Ltd.                          | Kwality Wall's India Ltd.                           | CUSIP: N/A<br>LEI: 3358004HTUS7E8UHI349       | Long             | EC               | CORP              | IN        |      6365 | NS      | $2781.61      | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Hon Hai Precision Industry Co. Ltd.                | Hon Hai Precision Industry Co. Ltd.                 | CUSIP: N/A<br>LEI: 30030004CM3GSZXX7O56       | Long             | EC               | CORP              | TW        |      5000 | NS      | $35033.37     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Mobile Telecommunications Co. KSCP                 | Mobile Telecommunications Co. KSCP                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KW        |     44150 | NS      | $73367.55     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Britannia Industries Ltd.                          | Britannia Industries Ltd.                           | CUSIP: N/A<br>LEI: 335800RRN5EVHNNAXN80       | Long             | EC               | CORP              | IN        |      1820 | NS      | $115951.73    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Dubai Electricity & Water Authority PJSC           | Dubai Electricity & Water Authority PJSC            | CUSIP: N/A<br>LEI: 213800K4OJF8DKATLT41       | Long             | EC               | CORP              | AE        |    148925 | NS      | $122460.21    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Thailand Baht                                      | Thailand Baht                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | TH        |         0 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NAVER Corp.                                        | NAVER Corp.                                         | CUSIP: N/A<br>LEI: 988400ULUQYDB2HQYJ61       | Long             | EC               | CORP              | KR        |       170 | NS      | $32478.81     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Dr. Sulaiman Al Habib Medical Services Group Co.   | Dr Sulaiman Al Habib Medical Services Group Co.     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |       980 | NS      | $68352.04     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Jarir Marketing Co.                                | Jarir Marketing Co.                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |     30430 | NS      | $115774.68    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco BBVA Peru SA                                 | Banco BBVA Peru SA                                  | CUSIP: N/A<br>LEI: 549300H1JNU0HLNFU552       | Long             | EC               | CORP              | PE        |      8733 | NS      | $5618.92      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuwaiti Dinar                                      | Kuwaiti Dinar                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | KW        |        22 | OU      | $72.43        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Far EasTone Telecommunications Co. Ltd.            | Far EasTone Telecommunications Co. Ltd.             | CUSIP: N/A<br>LEI: 529900L7W7BWDLVZL253       | Long             | EC               | CORP              | TW        |     40000 | NS      | $112869.40    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Voltas Ltd.                                        | Voltas Ltd.                                         | CUSIP: N/A<br>LEI: 335800VVTQSSZ7NV7F51       | Long             | EC               | CORP              | IN        |      2875 | NS      | $41502.51     | 0.27%             |  |  |  | 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        |     36870 | NS      | $2079575.79   | 13.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Manila Electric Co.                                | Manila Electric Co.                                 | CUSIP: N/A<br>LEI: 254900RDFLCM12O8SK69       | Long             | EC               | CORP              | PH        |     10250 | NS      | $102708.03    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of China Ltd.                                 | Bank of China Ltd., Class H                         | CUSIP: N/A<br>LEI: 54930053HGCFWVHYZX42       | Long             | EC               | CORP              | HK        |    275000 | NS      | $164442.94    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Catcher Technology Co. Ltd.                        | Catcher Technology Co. Ltd.                         | CUSIP: N/A<br>LEI: 5299006PRSCU66N5JF55       | Long             | EC               | CORP              | TW        |     17200 | NS      | $109583.73    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Bank of Dubai PSC                       | Commercial Bank of Dubai PSC                        | CUSIP: N/A<br>LEI: 2138002DQL2YD4S8HE87       | Long             | EC               | CORP              | AE        |      1450 | NS      | $3849.40      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Bangkok Dusit Medical Services PCL                 | Bangkok Dusit Medical Services PCL                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |    139500 | NS      | $89113.30     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of the Philippine Islands                     | Bank of the Philippine Islands                      | CUSIP: N/A<br>LEI: 549300UW4UH6XT2X8C50       | Long             | EC               | CORP              | PH        |     47450 | NS      | $99927.82     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Turkish Lira                                       | Turkish Lira                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | TR        |      1068 | OU      | $24.55        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Page Industries Ltd.                               | Page Industries Ltd.                                | CUSIP: N/A<br>LEI: 335800D6UFCCKUP3KD53       | Long             | EC               | CORP              | IN        |         5 | NS      | $1793.45      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MRF Ltd.                                           | MRF Ltd.                                            | CUSIP: N/A<br>LEI: 335800EQP78LTJ76DZ82       | Long             | EC               | CORP              | IN        |        46 | NS      | $66091.48     | 0.42%             |  |  |  | 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        |    175000 | NS      | $105765.91    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive India Ltd.                       | Colgate-Palmolive India Ltd.                        | CUSIP: N/A<br>LEI: 335800YWKI47DGFKWB26       | Long             | EC               | CORP              | IN        |      4755 | NS      | $109286.82    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan High Speed Rail Corp.                       | Taiwan High Speed Rail Corp.                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    125000 | NS      | $108635.21    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                | MSCI Emerging Markets E-Mini Index                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $6866.82      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Qatari Rial                                        | Qatari Rial                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | QA        |        51 | OU      | $14.04        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Polyus PJSC                                        | Polyus PJSC                                         | CUSIP: N/A<br>LEI: 549300FUXVT7TF6ZKV71       | Long             | EC               | CORP              | RU        |      5460 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Fuyao Glass Industry Group Co. Ltd.                | Fuyao Glass Industry Group Co. Ltd., Class H        | CUSIP: N/A<br>LEI: 549300AS5CSLWETN0P64       | Long             | EC               | CORP              | HK        |      7200 | NS      | $61631.05     | 0.39%             |  |  |  | Yes           |                  1 | On Loan: No      |
| HDFC Bank Ltd.                                     | HDFC Bank Ltd.                                      | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | IN        |     28600 | NS      | $288914.80    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd.                         | Alibaba Group Holding Ltd.                          | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | US        |      2945 | NS      | $499354.20    | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ITC Ltd.                                           | ITC Ltd.                                            | CUSIP: N/A<br>LEI: 335800WLOU3OFWFTMP43       | Long             | EC               | CORP              | IN        |     28100 | NS      | $98409.19     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Salik Co. PJSC                                     | Salik Co. PJSC                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AE        |     71195 | NS      | $123677.48    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| China Shenhua Energy Co. Ltd.                      | China Shenhua Energy Co. Ltd., Class H              | CUSIP: N/A<br>LEI: 529900N9JOX4C108MA40       | Long             | EC               | CORP              | HK        |     26000 | NS      | $143221.89    | 0.92%             |  |  |  | No            |                  1 | On Loan: —       |
| BOC Aviation Ltd.                                  | BOC Aviation Ltd.                                   | CUSIP: N/A<br>LEI: 254900H06V5RMEB3KE72       | Long             | EC               | CORP              | HK        |      8500 | NS      | $88268.44     | 0.56%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Nestle India Ltd.                                  | Nestle India Ltd.                                   | CUSIP: N/A<br>LEI: 3358008SYYY9CPWH5D94       | Long             | EC               | CORP              | IN        |      6080 | NS      | $88066.23     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA                           | Itau Unibanco Holding SA (Preference)               | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EC               | CORP              | BR        |      2575 | NS      | $22378.26     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Industries Qatar QSC                               | Industries Qatar QSC                                | CUSIP: N/A<br>LEI: 2763E5KI3B6J7HLSFX16       | Long             | EC               | CORP              | QA        |     22575 | NS      | $78866.79     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Celcomdigi Bhd.                                    | Celcomdigi Bhd.                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |     87000 | NS      | $71948.25     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Caixa Seguridade Participacoes SA                  | Caixa Seguridade Participacoes SA                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     38500 | NS      | $127290.35    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Chongqing Rural Commercial Bank Co. Ltd.           | Chongqing Rural Commercial Bank Co. Ltd., Class H   | CUSIP: N/A<br>LEI: 300300C1126750000027       | Long             | EC               | CORP              | HK        |    130000 | NS      | $97045.98     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Marico Ltd.                                        | Marico Ltd.                                         | CUSIP: N/A<br>LEI: 3358003SFDQFGJPC5O84       | Long             | EC               | CORP              | IN        |      1065 | NS      | $8449.38      | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PhosAgro PJSC                                      | PhosAgro PJSC                                       | CUSIP: N/A<br>LEI: 25340053KRUNNYUWF472       | Long             | EC               | CORP              | RU        |      1158 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Chinese Renminbi (Yuan)                            | Chinese Renminbi (Yuan)                             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CN        |      1004 | OU      | $144.54       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Investment Bank (The)                        | Saudi Investment Bank (The)                         | CUSIP: N/A<br>LEI: 558600V3J4M5TUY9HR70       | Long             | EC               | CORP              | SA        |     28595 | NS      | $106734.74    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| RHB Bank Bhd.                                      | RHB Bank Bhd.                                       | CUSIP: N/A<br>LEI: 549300ZHRPSV7QIUJT80       | Long             | EC               | CORP              | MY        |     47000 | NS      | $100748.35    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Leong Bank Bhd.                               | Hong Leong Bank Bhd.                                | CUSIP: N/A<br>LEI: 549300BUPYUQGB5BFX94       | Long             | EC               | CORP              | MY        |     15500 | NS      | $101445.97    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| KT&G Corp.                                         | KT&G Corp.                                          | CUSIP: N/A<br>LEI: 988400ZJV6ISYBLQX875       | Long             | EC               | CORP              | KR        |       895 | NS      | $95693.00     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Telecom Co. Ltd.                                | SK Telecom Co. Ltd.                                 | CUSIP: N/A<br>LEI: 9884003WEA1PHW006037       | Long             | EC               | CORP              | KR        |      2010 | NS      | $101240.10    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Muthoot Finance Ltd.                               | Muthoot Finance Ltd.                                | CUSIP: N/A<br>LEI: 335800HAMJMBFL4RRF02       | Long             | EC               | CORP              | IN        |      2845 | NS      | $118442.31    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd.                              | Tencent Holdings Ltd.                               | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | HK        |      8500 | NS      | $659564.39    | 4.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Torrent Pharmaceuticals Ltd.                       | Torrent Pharmaceuticals Ltd.                        | CUSIP: N/A<br>LEI: 335800NA6HK275RIJE13       | Long             | EC               | CORP              | IN        |      2740 | NS      | $117978.99    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Biologics Co. Ltd.                         | Samsung Biologics Co. Ltd.                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |        81 | NS      | $98197.17     | 0.63%             |  |  |  | Yes           |                  1 | On Loan: No      |
| National Bank of Kuwait SAKP                       | National Bank of Kuwait SAKP                        | CUSIP: N/A<br>LEI: 549300NB7FE83IH6BW96       | Long             | EC               | CORP              | KW        |     33440 | NS      | $103621.51    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Telekom Malaysia Bhd.                              | Telekom Malaysia Bhd.                               | CUSIP: N/A<br>LEI: 254900SNFPTSDGGVEK77       | Long             | EC               | CORP              | MY        |     43000 | NS      | $86174.53     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| China Coal Energy Co. Ltd.                         | China Coal Energy Co. Ltd., Class H                 | CUSIP: N/A<br>LEI: 529900KRC89344UI3Z10       | Long             | EC               | CORP              | HK        |     78000 | NS      | $114158.03    | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| Al Rajhi Bank                                      | Al Rajhi Bank                                       | CUSIP: N/A<br>LEI: 558600BQZS4Y1DTU8589       | Long             | EC               | CORP              | SA        |      1385 | NS      | $39585.14     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Rumo SA                                            | Rumo SA                                             | CUSIP: N/A<br>LEI: 254900TXQFP7CJCGYM66       | Long             | EC               | CORP              | BR        |     23000 | NS      | $64841.33     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambev SA                                           | Ambev SA                                            | CUSIP: N/A<br>LEI: 549300TH5Q6VRP8OT012       | Long             | EC               | CORP              | BR        |      8500 | NS      | $24109.21     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Astral Ltd.                                        | Astral Ltd.                                         | CUSIP: N/A<br>LEI: 3358007M1SKFTVDRMC40       | Long             | EC               | CORP              | IN        |       200 | NS      | $3210.44      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fertiglobe plc                                     | Fertiglobe plc                                      | CUSIP: N/A<br>LEI: 984500A99D1B4CPBF744       | Long             | EC               | CORP              | AE        |     33615 | NS      | $24804.07     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek, Inc.                                     | MediaTek, Inc.                                      | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |      1230 | NS      | $68789.32     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd.                                     | Credicorp Ltd.                                      | CUSIP: N/A<br>LEI: 529900UYAEYQCQ2BKB17       | Long             | EC               | CORP              | US        |       275 | NS      | $98128.25     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| PICC Property & Casualty Co. Ltd.                  | PICC Property & Casualty Co. Ltd., Class H          | CUSIP: N/A<br>LEI: 300300F1000311000017       | Long             | EC               | CORP              | HK        |      8000 | NS      | $16584.50     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Colombian Peso                                     | Colombian Peso                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CO        |     12292 | OU      | $3.35         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Dollar                                   | Hong Kong Dollar                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | HK        |      2976 | OU      | $381.06       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Sundaram Finance Ltd.                              | Sundaram Finance Ltd.                               | CUSIP: N/A<br>LEI: 335800QM6HEH82BEJY45       | Long             | EC               | CORP              | IN        |        65 | NS      | $3729.53      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Qatar Fuel QSC                                     | Qatar Fuel QSC                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | QA        |     27735 | NS      | $118069.90    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| New Taiwan Dollar                                  | New Taiwan Dollar                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | TW        |    221141 | OU      | $7027.04      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Chang Hwa Commercial Bank Ltd.                     | Chang Hwa Commercial Bank Ltd.                      | CUSIP: N/A<br>LEI: 549300FHFNGCSKDTHT42       | Long             | EC               | CORP              | TW        |    125000 | NS      | $81029.55     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Mega Financial Holding Co. Ltd.                    | Mega Financial Holding Co. Ltd.                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     45000 | NS      | $55481.41     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Godrej Consumer Products Ltd.                      | Godrej Consumer Products Ltd.                       | CUSIP: N/A<br>LEI: 335800P4GUWLGZFK2D63       | Long             | EC               | CORP              | IN        |      2990 | NS      | $37513.35     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Hospitals Enterprise Ltd.                   | Apollo Hospitals Enterprise Ltd.                    | CUSIP: N/A<br>LEI: 3358005YT7JQCWYLTG43       | Long             | EC               | CORP              | IN        |      1010 | NS      | $76424.57     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Ping An Insurance Group Co. of China Ltd.          | Ping An Insurance Group Co. of China Ltd., Class H  | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | HK        |      5000 | NS      | $46544.68     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Aboitiz Power Corp.                                | Aboitiz Power Corp.                                 | CUSIP: N/A<br>LEI: 254900UHTKF4VBSFTL94       | Long             | EC               | CORP              | PH        |    165500 | NS      | $120863.44    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| GMexico Transportes SAB de CV                      | GMexico Transportes SAB de CV                       | CUSIP: N/A<br>LEI: 4469000001BXJ8FN4U73       | Long             | EC               | CORP              | MX        |      1000 | NS      | $1965.76      | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Czech Repub. Kronas                                | Czech Repub. Kronas                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CZ        |      1433 | OU      | $70.06        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Trip.com Group Ltd.                                | Trip.com Group Ltd.                                 | CUSIP: N/A<br>LEI: 2549004RMYDSRQL4KW41       | Long             | EC               | CORP              | HK        |       400 | NS      | $24677.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Promotora y Operadora de Infraestructura SAB de CV | Promotora y Operadora de Infraestructura SAB de CV  | CUSIP: N/A<br>LEI: 52990035X6RK8DBUWA73       | Long             | EC               | CORP              | MX        |      1650 | NS      | $25991.76     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Peruvian New Sol                                   | Peruvian New Sol                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | PE        |        92 | OU      | $27.27        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Cipla Ltd.                                         | Cipla Ltd.                                          | CUSIP: N/A<br>LEI: 335800KMJJYEDDK82Q34       | Long             | EC               | CORP              | IN        |      7270 | NS      | $104639.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| South Korea Won                                    | South Korea Won                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | KR        |    218574 | OU      | $151.85       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Livzon Pharmaceutical Group, Inc.                  | Livzon Pharmaceutical Group, Inc., Class H          | CUSIP: N/A<br>LEI: 529900Y4GWTVVTORJ443       | Long             | EC               | CORP              | HK        |      3000 | NS      | $11293.65     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| President Chain Store Corp.                        | President Chain Store Corp.                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |      8800 | NS      | $59701.30     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd.                           | Reliance Industries Ltd.                            | CUSIP: N/A<br>LEI: 5493003UOETFYRONLG31       | Long             | EC               | CORP              | IN        |      2980 | NS      | $45204.97     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ooredoo QPSC                                       | Ooredoo QPSC                                        | CUSIP: N/A<br>LEI: 549300D3EIDZJB62TR20       | Long             | EC               | CORP              | QA        |      8815 | NS      | $34378.74     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Maruti Suzuki India Ltd.                           | Maruti Suzuki India Ltd.                            | CUSIP: N/A<br>LEI: 335800D27PBEESKKD357       | Long             | EC               | CORP              | IN        |       615 | NS      | $97604.40     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Emirates Telecommunications Group Co. PJSC         | Emirates Telecommunications Group Co. PJSC          | CUSIP: N/A<br>LEI: 529900XDPQPWEQ9BGB80       | Long             | EC               | CORP              | AE        |      5895 | NS      | $31620.63     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Telecom Co.                                  | Saudi Telecom Co.                                   | CUSIP: N/A<br>LEI: 21380028ATJ79OTA9W17       | Long             | EC               | CORP              | SA        |      7780 | NS      | $92098.01     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Arabian Internet & Communications Services Co.     | Arabian Internet & Communications Services Co.      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |       935 | NS      | $58432.83     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Shree Cement Ltd.                                  | Shree Cement Ltd.                                   | CUSIP: N/A<br>LEI: 335800W6FNBDUZ89L830       | Long             | EC               | CORP              | IN        |        15 | NS      | $4400.33      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sberbank of Russia PJSC                            | Sberbank of Russia PJSC                             | CUSIP: N/A<br>LEI: 549300WE6TAF5EEWQS81       | Long             | EC               | CORP              | RU        |     12360 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Indian Rupee                                       | Indian Rupee                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | IN        |      3883 | OU      | $42.22        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Surgutneftegas PJSC                                | Surgutneftegas PAO (Preference)                     | CUSIP: N/A<br>LEI: 2138002GZLU65FRAC894       | Long             | EC               | CORP              | RU        |    156600 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Tata Consultancy Services Ltd.                     | Tata Consultancy Services Ltd.                      | CUSIP: N/A<br>LEI: 335800ZJKU9GPQRE2U66       | Long             | EC               | CORP              | IN        |      6890 | NS      | $233984.74    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Moroccan Dirham                                    | Moroccan Dirham                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | MA        |       732 | OU      | $80.41        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Aselsan Elektronik Sanayi ve Ticaret A/S           | Aselsan Elektronik Sanayi ve Ticaret A/S            | CUSIP: N/A<br>LEI: 7890008XT4M710MU8714       | Long             | EC               | CORP              | TR        |     19895 | NS      | $138717.54    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Falabella SA                                       | Falabella SA                                        | CUSIP: N/A<br>LEI: 5493004CKJQ7H391LM41       | Long             | EC               | CORP              | CL        |       405 | NS      | $3182.82      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| UltraTech Cement Ltd.                              | UltraTech Cement Ltd.                               | CUSIP: N/A<br>LEI: 335800PC9O9B4BQHG814       | Long             | EC               | CORP              | IN        |        45 | NS      | $6209.87      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Brazilian Real                                     | Brazilian Real                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | BR        |      1264 | OU      | $241.49       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hero MotoCorp Ltd.                                 | Hero MotoCorp Ltd.                                  | CUSIP: N/A<br>LEI: 335800Q49FBMZJTRLK49       | Long             | EC               | CORP              | IN        |       645 | NS      | $38803.42     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Chilean Peso Currency                              | Chilean Peso Currency                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CL        |    402381 | OU      | $466.13       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase, Inc.                                      | NetEase, Inc.                                       | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | US        |       685 | NS      | $88248.55     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Dian Swastatika Sentosa Tbk. PT                    | Dian Swastatika Sentosa Tbk. PT                     | CUSIP: N/A<br>LEI: 529900446D0A6MP4PP55       | Long             | EC               | CORP              | ID        |      9500 | NS      | $56032.17     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Hindustan Unilever Ltd.                            | Hindustan Unilever Ltd.                             | CUSIP: N/A<br>LEI: 5493007IW5N37IKRPM32       | Long             | EC               | CORP              | IN        |      6235 | NS      | $160844.19    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hungarian Forint                                   | Hungarian Forint                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | HU        |     41149 | OU      | $128.56       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| China Petroleum & Chemical Corp.                   | China Petroleum & Chemical Corp., Class H           | CUSIP: N/A<br>LEI: 529900A2OB24EZ5B3J19       | Long             | EC               | CORP              | HK        |    168000 | NS      | $115733.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: —       |
| Turkiye Petrol Rafinerileri A/S                    | Turkiye Petrol Rafinerileri A/S                     | CUSIP: N/A<br>LEI: 789000RCNG97UV50EE03       | Long             | EC               | CORP              | TR        |     15495 | NS      | $87214.69     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung SDS Co. Ltd.                               | Samsung SDS Co. Ltd.                                | CUSIP: N/A<br>LEI: 988400G19T2TB4CAWX91       | Long             | EC               | CORP              | KR        |      1035 | NS      | $124467.49    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| China Construction Bank Corp.                      | China Construction Bank Corp., Class H              | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | HK        |    105000 | NS      | $106348.52    | 0.68%             |  |  |  | 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      | $283.34       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tingyi Cayman Islands Holding Corp.                | Tingyi Cayman Islands Holding Corp.                 | CUSIP: N/A<br>LEI: 5299009MPI9B60VN4P25       | Long             | EC               | CORP              | HK        |     74000 | NS      | $112378.20    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| FSN E-Commerce Ventures Ltd.                       | FSN E-Commerce Ventures Ltd.                        | CUSIP: N/A<br>LEI: 335800X5BJYC18NHDQ91       | Long             | EC               | CORP              | IN        |     11040 | NS      | $28503.87     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics, Inc.                            | Delta Electronics, Inc.                             | CUSIP: N/A<br>LEI: 529900UVZWNWGDLJSM52       | Long             | EC               | CORP              | TW        |      1500 | NS      | $58150.62     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SK hynix, Inc.                                     | SK hynix, Inc.                                      | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |       555 | NS      | $350489.79    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Nebras Energy                                      | Nebras Energy                                       | CUSIP: N/A<br>LEI: 2763MA9U3F8LNMP1G116       | Long             | EC               | CORP              | QA        |     23490 | NS      | $98708.32     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Huaneng Power International, Inc.                  | Huaneng Power International, Inc., Class H          | CUSIP: N/A<br>LEI: 529900WU0SMVKMPG4V21       | Long             | EC               | CORP              | HK        |     92000 | NS      | $67147.27     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Guangdong Investment Ltd.                          | Guangdong Investment Ltd.                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    118000 | NS      | $111507.48    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Boubyan Bank KSCP                                  | Boubyan Bank KSCP                                   | CUSIP: N/A<br>LEI: 254900D1UAYOAUPGL280       | Long             | EC               | CORP              | KW        |     33365 | NS      | $73709.58     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings, Inc.                                 | PDD Holdings, Inc.                                  | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | US        |       745 | NS      | $75282.25     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| BB Seguridade Participacoes SA                     | BB Seguridade Participacoes SA                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     18500 | NS      | $131836.20    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinson PCL                                       | Robinson PCL                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |       600 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| United Microelectronics Corp.                      | United Microelectronics Corp.                       | CUSIP: N/A<br>LEI: 391200YJCAGH9LF96P73       | Long             | EC               | CORP              | TW        |     15000 | NS      | $29742.61     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SBI Cards & Payment Services Ltd.                  | SBI Cards & Payment Services Ltd.                   | CUSIP: N/A<br>LEI: 335800HN4Y9OTCFH4236       | Long             | EC               | CORP              | IN        |       605 | NS      | $4956.08      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Petronas Gas Bhd.                                  | Petronas Gas Bhd.                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |     20000 | NS      | $93252.16     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd.                                    | ICICI Bank Ltd.                                     | CUSIP: N/A<br>LEI: R7RX8ER1V4666J8D1I38       | Long             | EC               | CORP              | IN        |      6200 | NS      | $91327.63     | 0.58%             |  |  |  | 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        |     43550 | NS      | $122136.60    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Qatar International Islamic Bank QSC               | Qatar International Islamic Bank QSC                | CUSIP: N/A<br>LEI: 2549007SZGKT5N5ND952       | Long             | EC               | CORP              | QA        |     26230 | NS      | $82198.38     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| China Merchants Port Holdings Co. Ltd.             | China Merchants Port Holdings Co. Ltd.              | CUSIP: N/A<br>LEI: 529900GA4UH90FUOR048       | Long             | EC               | CORP              | HK        |     36000 | NS      | $72509.83     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Russian Roubles                                    | Russian Roubles                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | RU        |   8736163 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Pharmaceutical Industries Ltd.                 | Sun Pharmaceutical Industries Ltd.                  | CUSIP: N/A<br>LEI: 335800KJ7GE29LB4SS73       | Long             | EC               | CORP              | IN        |      7335 | NS      | $127207.78    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Abu Dhabi National Oil Co. for Distribution PJSC   | Abu Dhabi National Oil Co. for Distribution PJSC    | CUSIP: N/A<br>LEI: 213800YI1ZIOJB3HLB11       | Long             | EC               | CORP              | AE        |     74400 | NS      | $83057.19     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica Brasil SA                               | Telefonica Brasil SA                                | CUSIP: N/A<br>LEI: 529900MTGG2HSDBIWG79       | Long             | EC               | CORP              | BR        |     12500 | NS      | $89245.64     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Klabin SA                                          | Klabin SA (Preference)                              | CUSIP: N/A<br>LEI: 254900C8UYA6YUPSDU10       | Long             | EC               | CORP              | BR        |      3030 | NS      | $2228.13      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                                          | Prosus NV                                           | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Long             | EC               | CORP              | NL        |       455 | NS      | $26228.25     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Jubilant Foodworks Ltd.                            | Jubilant Foodworks Ltd.                             | CUSIP: N/A<br>LEI: 9845000D3B99893F5B14       | Long             | EC               | CORP              | IN        |       575 | NS      | $3106.98      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Petronas Dagangan Bhd.                             | Petronas Dagangan Bhd.                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |     13500 | NS      | $72602.74     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| BDO Unibank, Inc.                                  | BDO Unibank, Inc.                                   | CUSIP: N/A<br>LEI: 3FGIIBS1PEI1FYQBGN97       | Long             | EC               | CORP              | PH        |     39350 | NS      | $90220.87     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Elm Co.                                            | Elm Co.                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |       235 | NS      | $48620.26     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Emirates Central Cooling Systems Corp.             | Emirates Central Cooling Systems Corp.              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AE        |    254075 | NS      | $121757.31    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Pidilite Industries Ltd.                           | Pidilite Industries Ltd.                            | CUSIP: N/A<br>LEI: 335800APXGEBZ349GN74       | Long             | EC               | CORP              | IN        |      7095 | NS      | $110380.81    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesaieed Petrochemical Holding Co.                 | Mesaieed Petrochemical Holding Co.                  | CUSIP: N/A<br>LEI: 2763NLQLXUEYYXDUAV36       | Long             | EC               | CORP              | QA        |    190230 | NS      | $57157.82     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Holding Co. Ltd.                   | First Financial Holding Co. Ltd.                    | CUSIP: N/A<br>LEI: 529900BC1U046Q2GUZ64       | Long             | EC               | CORP              | TW        |    120000 | NS      | $109818.88    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd.                                 | Bharti Airtel Ltd.                                  | CUSIP: N/A<br>LEI: 335800KQ1FPKOQ84OR26       | Long             | EC               | CORP              | IN        |      4910 | NS      | $105082.94    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Electric Power Corp.                         | Korea Electric Power Corp.                          | CUSIP: N/A<br>LEI: 988400QG33WS7JEIV602       | Long             | EC               | CORP              | KR        |      1830 | NS      | $74120.47     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Polish Zloty - New                                 | Polish Zloty - New                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | PL        |      1205 | OU      | $340.82       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Uab Dirham                                         | Uab Dirham                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | AE        |      1233 | OU      | $335.65       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chunghwa Telecom Co. Ltd.                          | Chunghwa Telecom Co. Ltd.                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     23300 | NS      | $98841.75     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Celltrion, Inc.                                    | Celltrion, Inc.                                     | CUSIP: N/A<br>LEI: 988400JFZG785WJX3D68       | Long             | EC               | CORP              | KR        |       635 | NS      | $92642.77     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Asian Paints Ltd.                                  | Asian Paints Ltd.                                   | CUSIP: N/A<br>LEI: 335800HEHXGYRUNERD75       | Long             | EC               | CORP              | IN        |      3925 | NS      | $103612.75    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| PI Industries Ltd.                                 | PI Industries Ltd.                                  | CUSIP: N/A<br>LEI: 335800PEGP94E4CC1D11       | Long             | EC               | CORP              | IN        |        65 | NS      | $2257.93      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CPFL Energia SA                                    | CPFL Energia SA                                     | CUSIP: N/A<br>LEI: 529900GBWSBDXN8GGM28       | Long             | EC               | CORP              | BR        |      9000 | NS      | $88460.62     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Femsa SAB de CV                          | Coca-Cola Femsa SAB de CV                           | CUSIP: N/A<br>LEI: 5493008KEVFYPMGTXO33       | Long             | EC               | CORP              | MX        |      4000 | NS      | $42146.77     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| HCL Technologies Ltd.                              | HCL Technologies Ltd.                               | CUSIP: N/A<br>LEI: 549300C1F8OLYSOQYB65       | Long             | EC               | CORP              | IN        |      5100 | NS      | $94007.99     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO                                               | EURO                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |       100 | OU      | $119.49       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd.                                       | Infosys Ltd.                                        | CUSIP: N/A<br>LEI: 335800TYLGG93MM7PR89       | Long             | EC               | CORP              | IN        |      4000 | NS      | $71357.52     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Embassy Office Parks REIT                          | Embassy Office Parks REIT                           | CUSIP: N/A<br>LEI: 335800O555A557E43Z08       | Long             | EC               | CORP              | IN        |      1460 | NS      | $6892.45      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| LafargeHolcim Maroc SA                             | LafargeHolcim Maroc SA                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MA        |       565 | NS      | $112093.20    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Porto Seguro SA                                    | Porto Seguro SA                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      4500 | NS      | $43181.71     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| APL Apollo Tubes Ltd.                              | APL Apollo Tubes Ltd.                               | CUSIP: N/A<br>LEI: 335800ZU4GXSB7Q4IU95       | Long             | EC               | CORP              | IN        |       260 | NS      | $5782.11      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Eicher Motors Ltd.                                 | Eicher Motors Ltd.                                  | CUSIP: N/A<br>LEI: 25490059S64CN2OY7239       | Long             | EC               | CORP              | IN        |      1690 | NS      | $130855.01    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Dubai Islamic Bank PJSC                            | Dubai Islamic Bank PJSC                             | CUSIP: N/A<br>LEI: 5493003E7YRAQY3JGW88       | Long             | EC               | CORP              | AE        |     44000 | NS      | $115731.15    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhaojin Mining Industry Co. Ltd.                   | Zhaojin Mining Industry Co. Ltd., Class H           | CUSIP: N/A<br>LEI: 3003007KU2DRDX06PN04       | Long             | EC               | CORP              | HK        |      6000 | NS      | $27811.57     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Indonesian Rupiah                                  | Indonesian Rupiah                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | ID        |       333 | OU      | $0.02         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Arabian Ryal                                 | Saudi Arabian Ryal                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SA        |       833 | OU      | $221.99       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co. Ltd.                       | Samsung Electronics Co. Ltd.                        | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |      5650 | NS      | $630002.08    | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.com, Inc.                                       | JD.com, Inc.                                        | CUSIP: 47215P106<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | US        |       630 | NS      | $17942.40     | 0.11%             |  |  |  | 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