# EDGAR Filing Document

**Accession Number:** 0001491978
**File Stem:** 0002071691-25-002056
**Filing Date:** 2025-9
**Character Count:** 59691
**Document Hash:** e8f0cc02e4d04e5a388a794bbca5facd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-002056.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0002071691-25-002056

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FLEXSHARES TRUST
- **CENTRAL INDEX KEY:** 0001491978

**ORGANIZATION NAME:**
- **EIN:** 272560399
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22555
- **FILM NUMBER:** 251342629

**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:** 2025-10-31

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $13958927.57

**Total Liabilities:** $32662.99

**Net Assets:** $13926264.58

**Cash Not Reported:** $90739.42

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000212721 | 2.59%                | 4.52%                | 0.98%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-177.94                 | $293433.04                                 |
| Month 2  | $126479.05               | $417761.50                                 |
| Month 3  | $-66.90                  | $89541.69                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Kuwait Finance House KSCP                        | Kuwait Finance House KSCP                           | CUSIP: N/A<br>LEI: 2549007KX0N057S9BC98       | Long             | EC               | CORP              | KW        |     45960 | NS      | $121208.24    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Bank Bhd.                                 | Public Bank Bhd.                                    | CUSIP: N/A<br>LEI: 549300L2RSQCVMOHGM20       | Long             | EC               | CORP              | MY        |     27500 | NS      | $27145.37     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Mobile Co. Ltd.                           | Taiwan Mobile Co. Ltd.                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     20000 | NS      | $70692.69     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MISC Bhd.                                        | MISC Bhd.                                           | CUSIP: N/A<br>LEI: 9845002055U77FF6B972       | Long             | EC               | CORP              | MY        |     24500 | NS      | $42853.46     | 0.31%             |  |  |  | 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      | $138038.22    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Krafton, Inc.                                    | Krafton, Inc.                                       | CUSIP: N/A<br>LEI: 988400CE024EWSCICK17       | Long             | EC               | CORP              | KR        |       415 | NS      | $98303.65     | 0.71%             |  |  |  | No            |                  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      | $84327.23     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Bosch Ltd.                                       | Bosch Ltd.                                          | CUSIP: N/A<br>LEI: 3358008TVK7S8BSVVW82       | Long             | EC               | CORP              | IN        |        15 | NS      | $6915.34      | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                                          | Vale SA                                             | CUSIP: N/A<br>LEI: 254900SMTWBX7RU2SR20       | Long             | EC               | CORP              | BR        |      1700 | NS      | $16233.13     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Lupin Ltd.                                       | Lupin Ltd.                                          | CUSIP: N/A<br>LEI: 335800HHXTESDEE2FC65       | Long             | EC               | CORP              | IN        |      4525 | NS      | $99649.57     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Etihad Etisalat Co.                              | Etihad Etisalat Co.                                 | CUSIP: N/A<br>LEI: 2549007BA9ABDE3HVK79       | Long             | EC               | CORP              | SA        |      1320 | NS      | $21536.08     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Bumrungrad Hospital PCL                          | Bumrungrad Hospital PCL                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |     21500 | NS      | $111842.11    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Malayan Banking Bhd.                             | Malayan Banking Bhd.                                | CUSIP: N/A<br>LEI: 5493004OT3TOY404V310       | Long             | EC               | CORP              | MY        |     37500 | NS      | $82561.55     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Novatek Microelectronics Corp.                   | Novatek Microelectronics Corp.                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |      1800 | NS      | $28645.62     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Meituan                                          | Meituan, Class B                                    | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | HK        |      6000 | NS      | $92942.68     | 0.67%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Bajaj Finance Ltd.                               | Bajaj Finance Ltd.                                  | CUSIP: N/A<br>LEI: 335800YTEXC3DO4Z6F68       | Long             | EC               | CORP              | IN        |       950 | NS      | $9556.53      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Info Service PCL                        | Advanced Info Service PCL                           | CUSIP: N/A<br>LEI: 529900DU2YW1NO5RMU78       | Long             | EC               | CORP              | TH        |      9800 | NS      | $87264.38     | 0.63%             |  |  |  | No            |                  1 | 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        |      1600 | NS      | $9541.84      | 0.07%             |  |  |  | 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      | $76757.52     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| China CITIC Bank Corp. Ltd.                      | China CITIC Bank Corp. Ltd., Class H                | CUSIP: N/A<br>LEI: 300300C1030211000384       | Long             | EC               | CORP              | HK        |     22000 | NS      | $20486.62     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Synnex Technology International Corp.            | Synnex Technology International Corp.               | CUSIP: N/A<br>LEI: 529900GMBJ3R4A2WBC71       | Long             | EC               | CORP              | TW        |     20000 | NS      | $44492.84     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Britannia Industries Ltd.                        | Britannia Industries Ltd.                           | CUSIP: N/A<br>LEI: 335800RRN5EVHNNAXN80       | Long             | EC               | CORP              | IN        |      1600 | NS      | $105407.90    | 0.76%             |  |  |  | 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        |    146940 | NS      | $110812.07    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Jarir Marketing Co.                              | Jarir Marketing Co.                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |     29520 | NS      | $101125.54    | 0.73%             |  |  |  | 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      | $3457.99      | 0.02%             |  |  |  | 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        |     36500 | NS      | $99909.54     | 0.72%             |  |  |  | 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        |     39300 | NS      | $1527364.10   | 10.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Manila Electric Co.                              | Manila Electric Co.                                 | CUSIP: N/A<br>LEI: 254900RDFLCM12O8SK69       | Long             | EC               | CORP              | PH        |      8250 | NS      | $75948.23     | 0.55%             |  |  |  | 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        |    295000 | NS      | $170611.46    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Catcher Technology Co. Ltd.                      | Catcher Technology Co. Ltd.                         | CUSIP: N/A<br>LEI: 5299006PRSCU66N5JF55       | Long             | EC               | CORP              | TW        |     15000 | NS      | $106541.59    | 0.77%             |  |  |  | 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        |     82000 | NS      | $53947.37     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Page Industries Ltd.                             | Page Industries Ltd.                                | CUSIP: N/A<br>LEI: 335800D6UFCCKUP3KD53       | Long             | EC               | CORP              | IN        |        10 | NS      | $5571.43      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MRF Ltd.                                         | MRF Ltd.                                            | CUSIP: N/A<br>LEI: 335800EQP78LTJ76DZ82       | Long             | EC               | CORP              | IN        |        45 | NS      | $75948.86     | 0.55%             |  |  |  | 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        |    155000 | NS      | $111955.41    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Emaar Properties PJSC                            | Emaar Properties PJSC                               | CUSIP: N/A<br>LEI: 254900YWYEXYXK1BMP81       | Long             | EC               | CORP              | AE        |       955 | NS      | $3964.98      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive India Ltd.                     | Colgate-Palmolive India Ltd.                        | CUSIP: N/A<br>LEI: 335800YWKI47DGFKWB26       | Long             | EC               | CORP              | IN        |       230 | NS      | $5895.28      | 0.04%             |  |  |  | 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        |    110000 | NS      | $100427.17    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Grid Corp. of India Ltd.                   | Power Grid Corp. of India Ltd.                      | CUSIP: N/A<br>LEI: 3358009SHWZ3DZEQ4Z56       | Long             | EC               | CORP              | IN        |     12905 | NS      | $42869.96     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Yanbu National Petrochemical Co.                 | Yanbu National Petrochemical Co.                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |      1420 | NS      | $11545.95     | 0.08%             |  |  |  | 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      |
| Bank Central Asia Tbk. PT                        | Bank Central Asia Tbk. PT                           | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               | CORP              | ID        |    224500 | NS      | $112898.06    | 0.81%             |  |  |  | No            |                  1 | 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        |     10800 | NS      | $78076.43     | 0.56%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Titan Co. Ltd.                                   | Titan Co. Ltd.                                      | CUSIP: N/A<br>LEI: 549300RO9VJWPK37FE54       | Long             | EC               | CORP              | IN        |      2170 | NS      | $82919.46     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd.                                   | HDFC Bank Ltd.                                      | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | IN        |      5035 | NS      | $116002.08    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd.                       | Alibaba Group Holding Ltd.                          | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | US        |      3630 | NS      | $437886.90    | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ITC Ltd.                                         | ITC Ltd.                                            | CUSIP: N/A<br>LEI: 335800WLOU3OFWFTMP43       | Long             | EC               | CORP              | IN        |     24815 | NS      | $116697.32    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Salik Co. PJSC                                   | Salik Co. PJSC                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AE        |     67350 | NS      | $117350.47    | 0.84%             |  |  |  | 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        |     28000 | NS      | $121452.23    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Agricultural Bank of China Ltd.                  | Agricultural Bank of China Ltd., Class H            | CUSIP: N/A<br>LEI: 549300E7TSGLCOVSY746       | Long             | EC               | CORP              | HK        |    110000 | NS      | $72165.61     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ADNOC Drilling Co. PJSC                          | ADNOC Drilling Co. PJSC                             | CUSIP: N/A<br>LEI: 254900JPRSQL1PM0JV19       | Long             | EC               | CORP              | AE        |     19820 | NS      | $31512.56     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Cooperative Financial Holding Co. Ltd.    | Taiwan Cooperative Financial Holding Co. Ltd.       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     25000 | NS      | $21274.81     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle India Ltd.                                | Nestle India Ltd.                                   | CUSIP: N/A<br>LEI: 3358008SYYY9CPWH5D94       | Long             | EC               | CORP              | IN        |      4115 | NS      | $105586.96    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                              | MSCI Emerging Markets E-Mini Index                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         3 | NC      | $3898.87      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rabigh Refining & Petrochemical Co.              | Rabigh Refining & Petrochemical Co.                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |     32430 | NS      | $61555.70     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA                         | Itau Unibanco Holding SA (Preference)               | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EC               | CORP              | BR        |      3000 | NS      | $18840.59     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Industries Qatar QSC                             | Industries Qatar QSC                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | QA        |     20265 | NS      | $73969.20     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Celcomdigi Bhd.                                  | Celcomdigi Bhd.                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |     77000 | NS      | $69327.08     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Caixa Seguridade Participacoes SA                | Caixa Seguridade Participacoes SA                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     38000 | NS      | $93531.36     | 0.67%             |  |  |  | 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        |    125000 | NS      | $99203.82     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Marico Ltd.                                      | Marico Ltd.                                         | CUSIP: N/A<br>LEI: 3358003SFDQFGJPC5O84       | Long             | EC               | CORP              | IN        |     10135 | NS      | $82122.44     | 0.59%             |  |  |  | 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      |
| Hong Leong Bank Bhd.                             | Hong Leong Bank Bhd.                                | CUSIP: N/A<br>LEI: 549300BUPYUQGB5BFX94       | Long             | EC               | CORP              | MY        |     22000 | NS      | $98007.03     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| KT&G Corp.                                       | KT&G Corp.                                          | CUSIP: N/A<br>LEI: 988400ZJV6ISYBLQX875       | Long             | EC               | CORP              | KR        |       955 | NS      | $90004.69     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Telecom Co. Ltd.                              | SK Telecom Co. Ltd.                                 | CUSIP: N/A<br>LEI: 9884003WEA1PHW006037       | Long             | EC               | CORP              | KR        |      2735 | NS      | $110638.52    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Nahdi Medical Co.                                | Nahdi Medical Co.                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |       160 | NS      | $5280.58      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Muthoot Finance Ltd.                             | Muthoot Finance Ltd.                                | CUSIP: N/A<br>LEI: 335800HAMJMBFL4RRF02       | Long             | EC               | CORP              | IN        |      4265 | NS      | $127187.43    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd.                            | Tencent Holdings Ltd.                               | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | HK        |      9200 | NS      | $644585.99    | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Torrent Pharmaceuticals Ltd.                     | Torrent Pharmaceuticals Ltd.                        | CUSIP: N/A<br>LEI: 335800NA6HK275RIJE13       | Long             | EC               | CORP              | IN        |      1455 | NS      | $62152.31     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Biologics Co. Ltd.                       | Samsung Biologics Co. Ltd.                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       110 | NS      | $84633.69     | 0.61%             |  |  |  | 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        |     34991 | NS      | $119952.81    | 0.86%             |  |  |  | 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      | $631.22       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Telekom Malaysia Bhd.                            | Telekom Malaysia Bhd.                               | CUSIP: N/A<br>LEI: 254900SNFPTSDGGVEK77       | Long             | EC               | CORP              | MY        |     43000 | NS      | $68053.93     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Zydus Lifesciences Ltd.                          | Zydus Lifesciences Ltd.                             | CUSIP: N/A<br>LEI: 335800R9O14ORBXLPN13       | Long             | EC               | CORP              | IN        |      2835 | NS      | $31386.10     | 0.23%             |  |  |  | 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        |     95000 | NS      | $116904.46    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Rumo SA                                          | Rumo SA                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     23000 | NS      | $67949.74     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Auto Ltd.                                  | Bajaj Auto Ltd.                                     | CUSIP: N/A<br>LEI: 335800DLAO5NCNN8G863       | Long             | EC               | CORP              | IN        |       175 | NS      | $15997.95     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fertiglobe plc                                   | Fertiglobe plc                                      | CUSIP: N/A<br>LEI: 984500A99D1B4CPBF744       | Long             | EC               | CORP              | AE        |     30795 | NS      | $21798.21     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek, Inc.                                   | MediaTek, Inc.                                      | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |      1630 | NS      | $74816.99     | 0.54%             |  |  |  | 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        |     46000 | NS      | $95633.12     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Sundaram Finance Ltd.                            | Sundaram Finance Ltd.                               | CUSIP: N/A<br>LEI: 335800QM6HEH82BEJY45       | Long             | EC               | CORP              | IN        |       110 | NS      | $5870.52      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Qatar Fuel QSC                                   | Qatar Fuel QSC                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | QA        |     23885 | NS      | $99712.17     | 0.72%             |  |  |  | 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        |    126000 | NS      | $78096.99     | 0.56%             |  |  |  | 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      | $64226.48     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Godrej Consumer Products Ltd.                    | Godrej Consumer Products Ltd.                       | CUSIP: N/A<br>LEI: 335800P4GUWLGZFK2D63       | Long             | EC               | CORP              | IN        |      2840 | NS      | $40817.48     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Hospitals Enterprise Ltd.                 | Apollo Hospitals Enterprise Ltd.                    | CUSIP: N/A<br>LEI: 3358005YT7JQCWYLTG43       | Long             | EC               | CORP              | IN        |       775 | NS      | $66335.99     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Petronet LNG Ltd.                                | Petronet LNG Ltd.                                   | CUSIP: N/A<br>LEI: 335800KIIKNA7GRD9351       | Long             | EC               | CORP              | IN        |      1500 | NS      | $4935.00      | 0.04%             |  |  |  | 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      | $34363.06     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Aboitiz Power Corp.                              | Aboitiz Power Corp.                                 | CUSIP: N/A<br>LEI: 254900UHTKF4VBSFTL94       | Long             | EC               | CORP              | PH        |    131500 | NS      | $97386.53     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Trip.com Group Ltd.                              | Trip.com Group Ltd.                                 | CUSIP: N/A<br>LEI: 2549004RMYDSRQL4KW41       | Long             | EC               | CORP              | HK        |       500 | NS      | $31337.58     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Leong Financial Group Bhd.                  | Hong Leong Financial Group Bhd.                     | CUSIP: N/A<br>LEI: 549300EGI40XD5GGWS62       | Long             | EC               | CORP              | MY        |     16000 | NS      | $60548.65     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cipla Ltd.                                       | Cipla Ltd.                                          | CUSIP: N/A<br>LEI: 335800KMJJYEDDK82Q34       | Long             | EC               | CORP              | IN        |      6525 | NS      | $115798.06    | 0.83%             |  |  |  | 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      | $75477.01     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd.                         | Reliance Industries Ltd.                            | CUSIP: N/A<br>LEI: 5493003UOETFYRONLG31       | Long             | EC               | CORP              | IN        |      4320 | NS      | $68558.79     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Dr Reddy's Laboratories Ltd.                     | Dr Reddy's Laboratories Ltd.                        | CUSIP: N/A<br>LEI: 335800OVDPY3DVZR2798       | Long             | EC               | CORP              | IN        |      5655 | NS      | $82005.13     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Ooredoo QPSC                                     | Ooredoo QPSC                                        | CUSIP: N/A<br>LEI: 549300D3EIDZJB62TR20       | Long             | EC               | CORP              | QA        |      8815 | NS      | $32587.17     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Maruti Suzuki India Ltd.                         | Maruti Suzuki India Ltd.                            | CUSIP: N/A<br>LEI: 335800D27PBEESKKD357       | Long             | EC               | CORP              | IN        |       650 | NS      | $93553.85     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Telecom Co.                                | Saudi Telecom Co.                                   | CUSIP: N/A<br>LEI: 21380028ATJ79OTA9W17       | Long             | EC               | CORP              | SA        |      7560 | NS      | $84727.79     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Shree Cement Ltd.                                | Shree Cement Ltd.                                   | CUSIP: N/A<br>LEI: 335800W6FNBDUZ89L830       | Long             | EC               | CORP              | IN        |        15 | NS      | $5275.76      | 0.04%             |  |  |  | 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      |
| Hyundai Mobis Co. Ltd.                           | Hyundai Mobis Co. Ltd.                              | CUSIP: N/A<br>LEI: 988400HJA9E0ZVDHRS65       | Long             | EC               | CORP              | KR        |       465 | NS      | $98747.12     | 0.71%             |  |  |  | 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      |
| Petroleo Brasileiro SA - Petrobras               | Petroleo Brasileiro SA - Petrobras (Preference)     | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | BR        |      2500 | NS      | $14575.20     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tata Consultancy Services Ltd.                   | Tata Consultancy Services Ltd.                      | CUSIP: N/A<br>LEI: 335800ZJKU9GPQRE2U66       | Long             | EC               | CORP              | IN        |      6885 | NS      | $238683.41    | 1.71%             |  |  |  | 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        |     20810 | NS      | $95865.54     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Hero MotoCorp Ltd.                               | Hero MotoCorp Ltd.                                  | CUSIP: N/A<br>LEI: 335800Q49FBMZJTRLK49       | Long             | EC               | CORP              | IN        |      1365 | NS      | $66391.99     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase, Inc.                                    | NetEase, Inc.                                       | CUSIP: 64110W102<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | US        |       280 | NS      | $36484.00     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ADNOC Logistics & Services                       | ADNOC Logistics & Services                          | CUSIP: N/A<br>LEI: 254900CIXQYSEOFXAB16       | Long             | EC               | CORP              | AE        |      2240 | NS      | $2841.85      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hindustan Unilever Ltd.                          | Hindustan Unilever Ltd.                             | CUSIP: N/A<br>LEI: 5493007IW5N37IKRPM32       | Long             | EC               | CORP              | IN        |      5935 | NS      | $170816.62    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Turkiye Petrol Rafinerileri A/S                  | Turkiye Petrol Rafinerileri A/S                     | CUSIP: N/A<br>LEI: 789000RCNG97UV50EE03       | Long             | EC               | CORP              | TR        |      3395 | NS      | $14125.97     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung SDS Co. Ltd.                             | Samsung SDS Co. Ltd.                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       790 | NS      | $90974.19     | 0.65%             |  |  |  | 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        |    223000 | NS      | $228681.53    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Dar Al Arkan Real Estate Development Co.         | Dar Al Arkan Real Estate Development Co.            | CUSIP: N/A<br>LEI: 558600USX20EGH6LVQ89       | Long             | EC               | CORP              | SA        |     13130 | NS      | $66855.86     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| United Tractors Tbk. PT                          | United Tractors Tbk. PT                             | CUSIP: N/A<br>LEI: 529900N9ELYOWQV4FW14       | Long             | EC               | CORP              | ID        |     58500 | NS      | $85856.88     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Itissalat Al-Maghrib                             | Itissalat Al-Maghrib                                | CUSIP: N/A<br>LEI: 254900LH0G1ZIZ78Y462       | Long             | EC               | CORP              | MA        |      5980 | NS      | $80103.88     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Tongcheng Travel Holdings Ltd.                   | Tongcheng Travel Holdings Ltd.                      | CUSIP: N/A<br>LEI: 2549004WGGNOPL8NUL61       | Long             | EC               | CORP              | HK        |     26000 | NS      | $65248.41     | 0.47%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Berger Paints India Ltd.                         | Berger Paints India Ltd.                            | CUSIP: N/A<br>LEI: 335800TNTIBFAWWUZD51       | Long             | EC               | CORP              | IN        |     15300 | NS      | $98665.45     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Qatar Electricity & Water Co. QSC                | Qatar Electricity & Water Co. QSC                   | CUSIP: N/A<br>LEI: 2763MA9U3F8LNMP1G116       | Long             | EC               | CORP              | QA        |     23935 | NS      | $105837.27    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Guangdong Investment Ltd.                        | Guangdong Investment Ltd.                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    130000 | NS      | $115757.96    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle Malaysia Bhd.                             | Nestle Malaysia Bhd.                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |      3500 | NS      | $72281.36     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Boubyan Bank KSCP                                | Boubyan Bank KSCP                                   | CUSIP: N/A<br>LEI: 254900D1UAYOAUPGL280       | Long             | EC               | CORP              | KW        |     33365 | NS      | $76870.36     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings, Inc.                               | PDD Holdings, Inc.                                  | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | US        |       810 | NS      | $91894.50     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BB Seguridade Participacoes SA                   | BB Seguridade Participacoes SA                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |     16000 | NS      | $96310.65     | 0.69%             |  |  |  | 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      | $20881.15     | 0.15%             |  |  |  | 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        |      6800 | NS      | $62675.78     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Petronas Gas Bhd.                                | Petronas Gas Bhd.                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |     18000 | NS      | $75882.77     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd.                                  | ICICI Bank Ltd.                                     | CUSIP: N/A<br>LEI: R7RX8ER1V4666J8D1I38       | Long             | EC               | CORP              | IN        |      6330 | NS      | $107047.90    | 0.77%             |  |  |  | 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        |     43280 | NS      | $117829.63    | 0.85%             |  |  |  | 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        |     23880 | NS      | $72997.64     | 0.52%             |  |  |  | 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        |     40000 | NS      | $78777.07     | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Pharmaceutical Industries Ltd.               | Sun Pharmaceutical Industries Ltd.                  | CUSIP: N/A<br>LEI: 335800KJ7GE29LB4SS73       | Long             | EC               | CORP              | IN        |      7950 | NS      | $154891.08    | 1.11%             |  |  |  | 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        |     60575 | NS      | $61183.54     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica Brasil SA                             | Telefonica Brasil SA                                | CUSIP: N/A<br>LEI: 529900MTGG2HSDBIWG79       | Long             | EC               | CORP              | BR        |     15000 | NS      | $84343.27     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Klabin SA                                        | Klabin SA (Preference)                              | CUSIP: N/A<br>LEI: 254900C8UYA6YUPSDU10       | Long             | EC               | CORP              | BR        |      6000 | NS      | $3943.88      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                                        | Prosus NV                                           | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Long             | EC               | CORP              | NL        |       225 | NS      | $12937.99     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Balkrishna Industries Ltd.                       | Balkrishna Industries Ltd.                          | CUSIP: N/A<br>LEI: 3358006BD9NZGXG1I436       | Long             | EC               | CORP              | IN        |        90 | NS      | $2749.56      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Petronas Dagangan Bhd.                           | Petronas Dagangan Bhd.                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |      8500 | NS      | $43008.21     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BDO Unibank, Inc.                                | BDO Unibank, Inc.                                   | CUSIP: N/A<br>LEI: 3FGIIBS1PEI1FYQBGN97       | Long             | EC               | CORP              | PH        |     27100 | NS      | $66295.29     | 0.48%             |  |  |  | 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        |    232910 | NS      | $109698.70    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Pidilite Industries Ltd.                         | Pidilite Industries Ltd.                            | CUSIP: N/A<br>LEI: 335800APXGEBZ349GN74       | Long             | EC               | CORP              | IN        |      2985 | NS      | $97790.81     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| QL Resources Bhd.                                | QL Resources Bhd.                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MY        |     32500 | NS      | $32385.70     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesaieed Petrochemical Holding Co.               | Mesaieed Petrochemical Holding Co.                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | QA        |    162165 | NS      | $60349.79     | 0.43%             |  |  |  | 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        |    135000 | NS      | $133880.56    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Dabur India Ltd.                                 | Dabur India Ltd.                                    | CUSIP: N/A<br>LEI: 335800MJPUA2E1FSFL38       | Long             | EC               | CORP              | IN        |      9640 | NS      | $58214.99     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd.                               | Bharti Airtel Ltd.                                  | CUSIP: N/A<br>LEI: 335800KQ1FPKOQ84OR26       | Long             | EC               | CORP              | IN        |      4910 | NS      | $107298.48    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Electric Power Corp.                       | Korea Electric Power Corp.                          | CUSIP: N/A<br>LEI: 988400QG33WS7JEIV602       | Long             | EC               | CORP              | KR        |      5030 | NS      | $139822.97    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chunghwa Telecom Co. Ltd.                        | Chunghwa Telecom Co. Ltd.                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |     22000 | NS      | $95083.34     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Asian Paints Ltd.                                | Asian Paints Ltd.                                   | CUSIP: N/A<br>LEI: 335800HEHXGYRUNERD75       | Long             | EC               | CORP              | IN        |      4225 | NS      | $115566.97    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| PI Industries Ltd.                               | PI Industries Ltd.                                  | CUSIP: N/A<br>LEI: 335800PEGP94E4CC1D11       | Long             | EC               | CORP              | IN        |       120 | NS      | $5823.23      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CPFL Energia SA                                  | CPFL Energia SA                                     | CUSIP: N/A<br>LEI: 529900GBWSBDXN8GGM28       | Long             | EC               | CORP              | BR        |     14500 | NS      | $98185.24     | 0.71%             |  |  |  | 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        |      8000 | NS      | $66460.95     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| HCL Technologies Ltd.                            | HCL Technologies Ltd.                               | CUSIP: N/A<br>LEI: 549300C1F8OLYSOQYB65       | Long             | EC               | CORP              | IN        |      7600 | NS      | $127353.87    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Infosys Ltd.                                     | Infosys Ltd.                                        | CUSIP: N/A<br>LEI: 335800TYLGG93MM7PR89       | Long             | EC               | CORP              | IN        |      4020 | NS      | $69249.62     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Embassy Office Parks REIT                        | Embassy Office Parks REIT                           | CUSIP: N/A<br>LEI: 335800O555A557E43Z08       | Long             | EC               | CORP              | IN        |      1430 | NS      | $6459.42      | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| LafargeHolcim Maroc SA                           | LafargeHolcim Maroc SA                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MA        |       490 | NS      | $107162.38    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Porto Seguro SA                                  | Porto Seguro SA                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      4500 | NS      | $41708.12     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Dubai Islamic Bank PJSC                          | Dubai Islamic Bank PJSC                             | CUSIP: N/A<br>LEI: 5493003E7YRAQY3JGW88       | Long             | EC               | CORP              | AE        |     51645 | NS      | $140322.10    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co. Ltd.                     | Samsung Electronics Co. Ltd.                        | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |      5510 | NS      | $283684.74    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Asia Cement Corp.                                | Asia Cement Corp.                                   | CUSIP: N/A<br>LEI: 213800EFQXH43HMGJL59       | Long             | EC               | CORP              | TW        |     27000 | NS      | $36636.23     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** FlexShares Trust

**Signature:** Randal Rein

**Name of Signer:** Randal Rein

**Title:** Treasurer and PFO