# EDGAR Filing Document

**Accession Number:** 0001491978
**File Stem:** 0002071691-26-006214
**Filing Date:** 2026-3
**Character Count:** 40385
**Document Hash:** f9728e08d9de9a8480e192cec4ebb6cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-006214.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0002071691-26-006214

**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:** 26788667

**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 US Quality Low Volatility Index Fund (Series ID: S000065837)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000212719 | FlexShares US Quality Low Volatility Index Fund | QLV             |

## 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 US Quality Low Volatility Index Fund

- **b. EDGAR series identifier (if any):** S000065837

- **c. LEI of Series:** 549300L25VDMC1O71Y42

**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:** $145992184.14

**Total Liabilities:** $719050.03

**Net Assets:** $145273134.11

**Cash Not Reported:** $1560616.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000212719 | 2.47%                | -0.95%               | 2.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3168907.30              | $212530.99                                 |
| Month 2  | $2924618.85              | $-4416626.66                               |
| Month 3  | $-30.42                  | $2787887.37                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Agree Realty Corp.                     | Agree Realty Corp.                     | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9875 | NS      | $713271.25    | 0.49%             |  |  |  | No            |                  1 | On Loan: —       |
| FirstCash Holdings, Inc.               | FirstCash Holdings, Inc.               | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3239 | NS      | $552249.50    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                      | Exxon Mobil Corp.                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     24095 | NS      | $3407033.00   | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                         | Alphabet, Inc., Class A                | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      7900 | NS      | $2670200.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group, Inc.                        | CME Group, Inc.                        | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      3318 | NS      | $959101.08    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Cal-Maine Foods, Inc.                  | Cal-Maine Foods, Inc.                  | CUSIP: 128030202<br>LEI: 549300NHE5WMIEIEMF53 | Long             | EC               | CORP              | US        |     11850 | NS      | $989830.50    | 0.68%             |  |  |  | No            |                  1 | On Loan: —       |
| Chubb Ltd.                             | Chubb Ltd.                             | CUSIP: N/A<br>LEI: E0JAN6VLUDI1HITHT809       | Long             | EC               | CORP              | CH        |      3240 | NS      | $1002974.40   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                           | NVIDIA Corp.                           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     46926 | NS      | $8968966.38   | 6.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp.                 | Northrop Grumman Corp.                 | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      1580 | NS      | $1093770.80   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals plc               | Jazz Pharmaceuticals plc               | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |      4108 | NS      | $675724.92    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                        | Eli Lilly & Co.                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      2500 | NS      | $2592875.00   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet, Inc.                         | Alphabet, Inc., Class C                | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      5767 | NS      | $1952302.51   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences, Inc.           | Neurocrine Biosciences, Inc.           | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      5135 | NS      | $698668.10    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp.  | International Business Machines Corp.  | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      8453 | NS      | $2592535.10   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.                | Republic Services, Inc.                | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      3871 | NS      | $832613.39    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple, Inc.                            | Apple, Inc.                            | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     28124 | NS      | $7297615.52   | 5.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technologies Ltd. | Check Point Software Technologies Ltd. | CUSIP: N/A<br>LEI: 2549003ZVBH73EPNS513       | Long             | EC               | CORP              | IL        |      5609 | NS      | $1006871.59   | 0.69%             |  |  |  | No            |                  1 | On Loan: —       |
| Automatic Data Processing, Inc.        | Automatic Data Processing, Inc.        | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      2923 | NS      | $721454.86    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp.                              | Fox Corp., Class A                     | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |      9875 | NS      | $718702.50    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Jack Henry & Associates, Inc.          | Jack Henry & Associates, Inc.          | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |      3792 | NS      | $679564.32    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox, Inc.                          | Dropbox, Inc., Class A                 | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |      3476 | NS      | $88568.48     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy, Inc.                  | Cheniere Energy, Inc.                  | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      5451 | NS      | $1152995.52   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp. (The)                   | Allstate Corp. (The)                   | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      3871 | NS      | $770290.29    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                      | Johnson & Johnson                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     26860 | NS      | $6103935.00   | 4.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                      | Merck & Co., Inc.                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     15800 | NS      | $1742266.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard, Inc.                       | Mastercard, Inc., Class A              | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      4503 | NS      | $2426171.37   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                         | DTE Energy Co.                         | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |      8216 | NS      | $1104066.08   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T, Inc.                             | AT&T, Inc.                             | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     43845 | NS      | $1149177.45   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America               | U.S. Treasury Bills                    | CUSIP: 912797SP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    115000 | PA      | $113928.68    | 0.08%             | 2026-05-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Assurant, Inc.                         | Assurant, Inc.                         | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |      4740 | NS      | $1128736.20   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp. (The)                | Progressive Corp. (The)                | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      3397 | NS      | $706576.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot, Inc. (The)                 | Home Depot, Inc. (The)                 | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      1445 | NS      | $541282.55    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills, Inc.                    | General Mills, Inc.                    | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     16669 | NS      | $771107.94    | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| Newmont Corp.                          | Newmont Corp.                          | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     14536 | NS      | $1633119.60   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos., Inc. (The)              | Williams Cos., Inc. (The)              | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     14378 | NS      | $967064.28    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos., Inc. (The)             | Travelers Cos., Inc. (The)             | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |      2923 | NS      | $831622.73    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys, Inc.                           | Qualys, Inc.                           | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |      7505 | NS      | $989909.50    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| General Dynamics Corp.                 | General Dynamics Corp.                 | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      3634 | NS      | $1275861.06   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison, Inc.              | Consolidated Edison, Inc.              | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |     11060 | NS      | $1179327.80   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                     | Southern Co. (The)                     | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     13509 | NS      | $1206488.79   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                    | S&P 500 E-Mini Index                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         4 | NC      | $22550.86     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings, Inc.                    | Loar Holdings, Inc.                    | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7426 | NS      | $509275.08    | 0.35%             |  |  |  | No            |                  1 | On Loan: —       |
| QIAGEN NV                              | QIAGEN NV                              | CUSIP: N/A<br>LEI: 54930036WK3GMCN17Z57       | Long             | EC               | CORP              | NL        |     15459 | NS      | $829684.53    | 0.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Corteva, Inc.                          | Corteva, Inc.                          | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     11929 | NS      | $868431.20    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp.                 | Encompass Health Corp.                 | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |      5767 | NS      | $545154.51    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| White Mountains Insurance Group Ltd.   | White Mountains Insurance Group Ltd.   | CUSIP: N/A<br>LEI: 549300N3FL068JERBG02       | Long             | EC               | CORP              | BM        |       381 | NS      | $779118.33    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone, Inc.                         | AutoZone, Inc.                         | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       223 | NS      | $826056.67    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp.            | Sensient Technologies Corp.            | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |      2449 | NS      | $231479.48    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants, Inc.               | Darden Restaurants, Inc.               | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |      2528 | NS      | $503956.80    | 0.35%             |  |  |  | No            |                  1 | On Loan: —       |
| Broadcom, Inc.                         | Broadcom, Inc.                         | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      5846 | NS      | $1936779.80   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies, Inc.               | Roper Technologies, Inc.               | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |      2133 | NS      | $791833.59    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd.                            | Amdocs Ltd.                            | CUSIP: N/A<br>LEI: 549300HQV672RJ7RQV66       | Long             | EC               | CORP              | GG        |     13983 | NS      | $1145767.02   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                    | Abbott Laboratories                    | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      3318 | NS      | $362657.40    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms, Inc.                   | Meta Platforms, Inc., Class A          | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      2528 | NS      | $1811312.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd.                | Agnico Eagle Mines Ltd.                | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      7505 | NS      | $1429702.50   | 0.98%             |  |  |  | No            |                  1 | On Loan: —       |
| Costco Wholesale Corp.                 | Costco Wholesale Corp.                 | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      3002 | NS      | $2822630.50   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson plc               | Willis Towers Watson plc               | CUSIP: N/A<br>LEI: 549300WHC56FF48KL350       | Long             | EC               | CORP              | IE        |      3476 | NS      | $1103525.72   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp.                           | Chemed Corp.                           | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      2449 | NS      | $1046065.86   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                    | S&P 500 Micro E-Mini Index             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         8 | NC      | $1501.78      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| WR Berkley Corp.                       | W R Berkley Corp.                      | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |      9796 | NS      | $671809.68    | 0.46%             |  |  |  | No            |                  1 | On Loan: —       |
| PepsiCo, Inc.                          | PepsiCo, Inc.                          | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      7900 | NS      | $1213677.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                   | JPMorgan Chase & Co.                   | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1501 | NS      | $459140.89    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway, Inc.               | Berkshire Hathaway, Inc., Class B      | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      5609 | NS      | $2695292.77   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US, Inc.                      | T-Mobile US, Inc.                      | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      5925 | NS      | $1168469.25   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals, Inc.           | Vertex Pharmaceuticals, Inc.           | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |       790 | NS      | $371221.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices, Inc.                   | Analog Devices, Inc.                   | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      5609 | NS      | $1743725.92   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dillard's, Inc.                        | Dillard's, Inc., Class A               | CUSIP: 254067101<br>LEI: 529900FGYKMWL6019P91 | Long             | EC               | CORP              | US        |       426 | NS      | $258820.56    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Appfolio, Inc.                         | Appfolio, Inc., Class A                | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |      1264 | NS      | $240008.32    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd.            | RenaissanceRe Holdings Ltd.            | CUSIP: N/A<br>LEI: EK6GB9U3U58PDI411C94       | Long             | EC               | CORP              | BM        |      2844 | NS      | $801154.80    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co., Inc.      | American Electric Power Co., Inc.      | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      3950 | NS      | $473111.25    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies, Inc.            | Teledyne Technologies, Inc.            | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |      2212 | NS      | $1372103.60   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp.                           | Ameren Corp.                           | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |      6083 | NS      | $628252.24    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co. (The)                    | Coca-Cola Co. (The)                    | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     10191 | NS      | $762388.71    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corp.                       | CMS Energy Corp.                       | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |     10191 | NS      | $728554.59    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos., Inc. (The)                   | TJX Cos., Inc. (The)                   | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      9480 | NS      | $1420198.80   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy, Inc.                   | Coterra Energy, Inc.                   | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     28598 | NS      | $825052.30    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow, Inc.                       | ServiceNow, Inc.                       | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      6320 | NS      | $739503.20    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co. (The)             | Procter & Gamble Co. (The)             | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     26149 | NS      | $3968633.73   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Restaurant Brands International, Inc.  | Restaurant Brands International, Inc.  | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Long             | EC               | CORP              | CA        |     10981 | NS      | $735617.19    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group, Inc.         | American Financial Group, Inc.         | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |      3318 | NS      | $432235.86    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications, Inc.           | Verizon Communications, Inc.           | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     46847 | NS      | $2085628.44   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CF SECURED LLC                         | Treasury Repurchase Agreement          | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |    685805 | PA      | $685805.35    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp.                        | Microsoft Corp.                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     19513 | NS      | $8396248.77   | 5.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics, Inc.                | Quest Diagnostics, Inc.                | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |      5925 | NS      | $1108152.75   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy, Inc.                           | Evergy, Inc.                           | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |      9875 | NS      | $757708.75    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group, Inc.        | Selective Insurance Group, Inc.        | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |       948 | NS      | $79707.84     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA, Inc.                       | Murphy USA, Inc.                       | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |      1975 | NS      | $834457.25    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections, Inc.                | Waste Connections, Inc.                | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      4740 | NS      | $794424.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp.                   | Alliant Energy Corp.                   | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |      9638 | NS      | $635240.58    | 0.44%             |  |  |  | No            |                  1 | On Loan: —       |
| AbbVie, Inc.                           | AbbVie, Inc.                           | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     10586 | NS      | $2360783.86   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group, Inc.                 | WEC Energy Group, Inc.                 | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |      7031 | NS      | $778120.77    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp.               | Marathon Petroleum Corp.               | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |       948 | NS      | $167028.12    | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Tractor Supply Co.                     | Tractor Supply Co.                     | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |       869 | NS      | $44214.72     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co. (The)                      | Hershey Co. (The)                      | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |      6241 | NS      | $1215434.75   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies, Inc.               | Tyler Technologies, Inc.               | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      1896 | NS      | $700382.40    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences, Inc.                  | Gilead Sciences, Inc.                  | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     13904 | NS      | $1973672.80   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp.                      | Duke Energy Corp.                      | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     10191 | NS      | $1236677.85   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa, Inc.                             | Visa, Inc., Class A                    | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      9480 | NS      | $3050948.40   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                       | McDonald's Corp.                       | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      7979 | NS      | $2513385.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse, Inc.                  | Texas Roadhouse, Inc., Class A         | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |       243 | NS      | $43705.98     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream, Inc.                     | DT Midstream, Inc.                     | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6320 | NS      | $796446.40    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts, Inc.                  | Electronic Arts, Inc.                  | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      2291 | NS      | $467180.72    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora, Inc.                          | Cencora, Inc.                          | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       316 | NS      | $113513.52    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp.                  | Lockheed Martin Corp.                  | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      2765 | NS      | $1753618.30   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Packaging Corp. of America             | Packaging Corp. of America             | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |      3792 | NS      | $843909.60    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments, Inc.                | Texas Instruments, Inc.                | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      5688 | NS      | $1226048.40   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes plc                           | Alkermes plc                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |      7742 | NS      | $262376.38    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Block, Inc.                        | H&R Block, Inc.                        | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     20777 | NS      | $819652.65    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp. International            | Service Corp. International            | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |      9243 | NS      | $743414.49    | 0.51%             |  |  |  | No            |                  1 | On Loan: —       |
| FTI Consulting, Inc.                   | FTI Consulting, Inc.                   | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |      4345 | NS      | $758941.15    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks, Inc.               | Palo Alto Networks, Inc.               | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      3713 | NS      | $657089.61    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies, Inc.  | Applied Industrial Technologies, Inc.  | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |      4345 | NS      | $1131481.45   | 0.78%             |  |  |  | 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