# EDGAR Filing Document

**Accession Number:** 0001491978
**File Stem:** 0002071691-25-009657
**Filing Date:** 2025-12
**Character Count:** 61904
**Document Hash:** 0317aa0a9deaaf32ee68260ac67ae2a8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-009657.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0002071691-25-009657

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**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:** 251596542

**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 Global Quality Real Estate Index Fund (Series ID: S000043008)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000133169 | FlexShares Global Quality Real Estate Index Fund | GQRE            |

## 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 Global Quality Real Estate Index Fund

- **b. EDGAR series identifier (if any):** S000043008

- **c. LEI of Series:** 549300SU9J4P6OO1QE18

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $379592572.63

**Total Liabilities:** $23648354.05

**Net Assets:** $355944218.58

**Cash Not Reported:** $3959844.87

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000133169 | 4.16%                | 0.46%                | -2.91%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2071274.30              | $12498610.30                               |
| Month 2  | $-4145107.31             | $3681018.35                                |
| Month 3  | $1571162.68              | $-12774501.51                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Carmila SA                                        | Carmila SA                                        | CUSIP: N/A<br>LEI: 222100P6D3QKU33LZQ72       | Long             | EC               | CORP              | FR        |     42480 | NS      | $775661.18    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust, Inc.                       | American Assets Trust, Inc.                       | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39480 | NS      | $754462.80    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT, Inc.                      | Apple Hospitality REIT, Inc.                      | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |    106440 | NS      | $1191063.60   | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Norwegian Krone                                   | Norwegian Krone                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | NO        |     56944 | OU      | $5628.56      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease, Inc.                        | Broadstone Net Lease, Inc.                        | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     89280 | NS      | $1599897.60   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| First Capital REIT                                | First Capital REIT                                | CUSIP: 31890B103<br>LEI: 54930042UG2WCIIAQZ39 | Long             | EC               | CORP              | CA        |     68760 | NS      | $923081.47    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors, Inc.                    | Sunstone Hotel Investors, Inc.                    | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |     93120 | NS      | $824112.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts, Inc.                      | Xenia Hotels & Resorts, Inc.                      | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               | CORP              | US        |     63600 | NS      | $782280.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| CF SECURED LLC                                    | Treasury Repurchase Agreement                     | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |   2197745 | PA      | $2197744.90   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| EPR Properties                                    | EPR Properties                                    | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |     36600 | NS      | $1794132.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: —       |
| Katitas Co. Ltd.                                  | Katitas Co. Ltd.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     47100 | NS      | $767089.03    | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Mapletree Pan Asia Commercial Trust               | Mapletree Pan Asia Commercial Trust               | CUSIP: N/A<br>LEI: 549300BF18K4IC5LZ208       | Long             | EC               | CORP              | SG        |   1140000 | NS      | $1261362.33   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite REIT                                      | Granite REIT                                      | CUSIP: 387437205<br>LEI: 549300A6I7CLE0ZC0396 | Long             | EC               | CORP              | CA        |     17400 | NS      | $978815.97    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Keppel DC REIT                                    | Keppel DC REIT                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |    920456 | NS      | $1690337.58   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Hang Lung Group Ltd.                              | Hang Lung Group Ltd.                              | CUSIP: N/A<br>LEI: 529900V2T2EPOQYH0981       | Long             | EC               | CORP              | HK        |    519000 | NS      | $988959.37    | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Tokyu Fudosan Holdings Corp.                      | Tokyu Fudosan Holdings Corp.                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    277100 | NS      | $2228599.53   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Killam Apartment REIT                             | Killam Apartment REIT                             | CUSIP: 49410M102<br>LEI: 2549001RZSL75H60JE41 | Long             | EC               | CORP              | CA        |     65760 | NS      | $813346.75    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| InvenTrust Properties Corp.                       | InvenTrust Properties Corp.                       | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               | CORP              | US        |     37440 | NS      | $1025856.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Goodman Group                                     | Goodman Group                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     21120 | NS      | $456679.65    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Hall Group                                | Charter Hall Group                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    226800 | NS      | $3331770.47   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Daito Trust Construction Co. Ltd.                 | Daito Trust Construction Co. Ltd.                 | CUSIP: N/A<br>LEI: 353800QQ4DRI3KXS3038       | Long             | EC               | CORP              | JP        |    139600 | NS      | $2606597.64   | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| Sino Land Co. Ltd.                                | Sino Land Co. Ltd.                                | CUSIP: N/A<br>LEI: 529900G5P51053HJVZ92       | Long             | EC               | CORP              | HK        |   1764954 | NS      | $2191375.17   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| New Zealand Dollar                                | New Zealand Dollar                                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | NZ        |         4 | OU      | $2.03         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Zug Estates Holding AG                            | Zug Estates Holding AG, Class B                   | CUSIP: N/A<br>LEI: 506700683S928H292L02       | Long             | EC               | CORP              | CH        |        52 | NS      | $138623.48    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedish Krona                                     | Swedish Krona                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SE        |    561317 | OU      | $59132.70     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SmartCentres REIT                                 | SmartCentres REIT                                 | CUSIP: 83179X108<br>LEI: 549300HKEP2IYWZ14H97 | Long             | EC               | CORP              | CA        |     47160 | NS      | $895304.57    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                               | SPI 200 Index                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | AU        |        16 | NC      | $-2618.72     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Mega Or Holdings Ltd.                             | Mega Or Holdings Ltd.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |     19320 | NS      | $1187388.61   | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| UNITE Group plc (The)                             | UNITE Group plc (The)                             | CUSIP: N/A<br>LEI: 213800BBUUWVDH9YI827       | Long             | EC               | CORP              | GB        |    112680 | NS      | $839412.98    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Kerry Properties Ltd.                             | Kerry Properties Ltd.                             | CUSIP: N/A<br>LEI: 5299006T5ULIIRZ7LK49       | Long             | EC               | CORP              | HK        |    370500 | NS      | $932423.25    | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| EastGroup Properties, Inc.                        | EastGroup Properties, Inc.                        | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |     25440 | NS      | $4440043.20   | 1.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Sun Hung Kai Properties Ltd.                      | Sun Hung Kai Properties Ltd.                      | CUSIP: N/A<br>LEI: 529900LUMD393RD3S874       | Long             | EC               | CORP              | HK        |    694000 | NS      | $8433686.73   | 2.37%             |  |  |  | No            |                  1 | On Loan: —       |
| CapitaLand Ascott Trust                           | CapitaLand Ascott Trust                           | CUSIP: N/A<br>LEI: 549300W6RTG7Y32IWY65       | Long             | EC               | CORP              | SG        |   1464000 | NS      | $1063029.70   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Shurgard Self Storage Ltd.                        | Shurgard Self Storage Ltd.                        | CUSIP: N/A<br>LEI: 549300J0UEIKU81XO336       | Long             | EC               | CORP              | BE        |     23400 | NS      | $857512.89    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Orix JREIT, Inc.                                  | Orix JREIT, Inc.                                  | CUSIP: N/A<br>LEI: 353800WVNTBIU65TA247       | Long             | EC               | CORP              | JP        |      2520 | NS      | $1706117.94   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group, Inc.                        | Simon Property Group, Inc.                        | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |    108360 | NS      | $19045353.60  | 5.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp.                               | Realty Income Corp.                               | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     22800 | NS      | $1321944.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-698.51      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| City Developments Ltd.                            | City Developments Ltd.                            | CUSIP: N/A<br>LEI: 254900BPLPJS0RJ72373       | Long             | EC               | CORP              | SG        |    240000 | NS      | $1333282.11   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CK Asset Holdings Ltd.                            | CK Asset Holdings Ltd.                            | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               | CORP              | HK        |    915500 | NS      | $4527909.73   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Apartment Properties REIT                | Canadian Apartment Properties REIT                | CUSIP: 134921105<br>LEI: 549300B1MYVTQEB2DI90 | Long             | EC               | CORP              | CA        |     37080 | NS      | $1020715.56   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON REIT Investment Corp.                      | NIPPON REIT Investment Corp.                      | CUSIP: N/A<br>LEI: 3538004O49OJ90PEXX85       | Long             | EC               | CORP              | JP        |      1355 | NS      | $855807.99    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties, Inc.                        | Highwoods Properties, Inc.                        | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |     51120 | NS      | $1463565.60   | 0.41%             |  |  |  | No            |                  1 | On Loan: —       |
| LondonMetric Property plc                         | LondonMetric Property plc                         | CUSIP: N/A<br>LEI: 213800OCERWWPQDURL87       | Long             | EC               | CORP              | GB        |    609240 | NS      | $1522455.85   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Safestore Holdings plc                            | Safestore Holdings plc                            | CUSIP: N/A<br>LEI: 213800WGA3YSJC1YOH73       | Long             | EC               | CORP              | GB        |    115680 | NS      | $1086701.10   | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Equinix, Inc.                                     | Equinix, Inc.                                     | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      6480 | NS      | $5482144.80   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Waypoint REIT Ltd.                                | Waypoint REIT Ltd.                                | CUSIP: N/A<br>LEI: 5493003CS5K82RREKA54       | Long             | EC               | CORP              | AU        |    524880 | NS      | $910573.63    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| TD PRIME SERVICES LLC                             | Other Repurchase Agreement                        | CUSIP: N/A<br>LEI: 549300ZBQI1JB1844X09       | Long             | RA               | CORP              | US        |   2294462 | PA      | $2294462.30   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Capitaland India Trust                            | Capitaland India Trust                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |    912000 | NS      | $847915.79    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| HMC Capital Ltd.                                  | HMC Capital Ltd.                                  | CUSIP: N/A<br>LEI: 9845005E59E4DCFA1C33       | Long             | EC               | CORP              | AU        |    130560 | NS      | $264960.42    | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Swiss Franc                                       | Swiss Franc                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CH        |     58908 | OU      | $73382.15     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower, Inc.                                   | Welltower, Inc.                                   | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     63120 | NS      | $11427244.80  | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust, Inc.                    | Medical Properties Trust, Inc.                    | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |    214440 | NS      | $1108654.80   | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Japanese Yen                                      | Japanese Yen                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | JP        |   9206447 | OU      | $59760.78     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CTP NV                                            | CTP NV                                            | CUSIP: N/A<br>LEI: 3157000YTVO4TN65UM14       | Long             | EC               | CORP              | NL        |     63068 | NS      | $1316098.99   | 0.37%             |  |  |  | Yes           |                  1 | On Loan: —       |
| Digital Realty Trust, Inc.                        | Digital Realty Trust, Inc.                        | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |    117960 | NS      | $20101563.60  | 5.65%             |  |  |  | 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      | $-1517.02     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Public Storage                                    | Public Storage                                    | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      6960 | NS      | $1938777.60   | 0.54%             |  |  |  | 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      | $2610.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Dollar                                   | Canadian Dollar                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | CA        |    135620 | OU      | $96792.21     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Big Yellow Group plc                              | Big Yellow Group plc                              | CUSIP: N/A<br>LEI: 213800W7Q4V2ZI8LIW31       | Long             | EC               | CORP              | GB        |     90240 | NS      | $1318407.48   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BWP Property Group Ltd.                           | BWP Property Group Ltd.                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     83280 | NS      | $209353.93    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                              | Vornado Realty Trust                              | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77400 | NS      | $2936556.00   | 0.83%             |  |  |  | No            |                  1 | On Loan: —       |
| Olav Thon Eiendomsselskap ASA                     | Olav Thon Eiendomsselskap ASA                     | CUSIP: N/A<br>LEI: 5967007LIEEXZXGOW838       | Long             | EC               | CORP              | NO        |      3360 | NS      | $88010.71     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Allreal Holding AG                                | Allreal Holding AG (Registered)                   | CUSIP: N/A<br>LEI: 5067006XH174LA44H658       | Long             | EC               | CORP              | CH        |      7200 | NS      | $1723874.18   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Excellent, Inc.                             | Japan Excellent, Inc.                             | CUSIP: N/A<br>LEI: 35380015J62221TE0D86       | Long             | EC               | CORP              | JP        |       925 | NS      | $883239.75    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                               | EURO STOXX 50 Index                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | DE        |         7 | NC      | $18537.32     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL BK OF CANADA FINANCIAL INC               | Other Repurchase Agreement                        | CUSIP: N/A<br>LEI: 549300K66TF1ST7A3V76       | Long             | RA               | CORP              | CA        |   2000000 | PA      | $2000000.00   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| CT REIT                                           | CT REIT                                           | CUSIP: 126462100<br>LEI: 549300QXEHJXT6D53X16 | Long             | EC               | CORP              | CA        |     66960 | NS      | $779443.74    | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Great Portland Estates plc                        | Great Portland Estates plc                        | CUSIP: N/A<br>LEI: 213800JMEDD2Q4N1MC42       | Long             | EC               | CORP              | GB        |    215520 | NS      | $942925.97    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties, Inc.                         | Millrose Properties, Inc.                         | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58440 | NS      | $1882352.40   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Dollar                                  | Hong Kong Dollar                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | HK        |   2205626 | OU      | $283783.94    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Israeli Shekel                                    | Israeli Shekel                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | IL        |    174115 | OU      | $53504.85     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BANK OF NOVA SCOTIA, TORONTO                  | Other Repurchase Agreement                        | CUSIP: N/A<br>LEI: L3I9ZG2KFGXZ61BMYR72       | Long             | RA               | CORP              | CA        |   7000000 | PA      | $7000000.00   | 1.97%             |  |  |  | No            |                  2 | On Loan: No      |
| National Health Investors, Inc.                   | National Health Investors, Inc.                   | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |     22200 | NS      | $1654122.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties, Inc.                             | VICI Properties, Inc., Class A                    | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    496560 | NS      | $14891834.40  | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyu REIT, Inc.                                  | Tokyu REIT, Inc.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       634 | NS      | $814028.76    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Sirius Real Estate Ltd.                           | Sirius Real Estate Ltd.                           | CUSIP: N/A<br>LEI: 213800NURUF5W8QSK566       | Long             | EC               | CORP              | GB        |    741840 | NS      | $973204.48    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Big Shopping Centers Ltd.                         | Big Shopping Centers Ltd.                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |      7680 | NS      | $1718335.69   | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| LTC Properties, Inc.                              | LTC Properties, Inc.                              | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               | CORP              | US        |     26880 | NS      | $942950.40    | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| First Industrial Realty Trust, Inc.               | First Industrial Realty Trust, Inc.               | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62880 | NS      | $3476006.40   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities, Inc.                       | AvalonBay Communities, Inc.                       | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |     67920 | NS      | $11812646.40  | 3.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Essential Properties Realty Trust, Inc.           | Essential Properties Realty Trust, Inc.           | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     95040 | NS      | $2839795.20   | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| Eurocommercial Properties NV                      | Eurocommercial Properties NV                      | CUSIP: N/A<br>LEI: 724500SFK53FPNM68L95       | Long             | EC               | CORP              | NL        |     29280 | NS      | $875289.88    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Stockland                                         | Stockland                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    142920 | NS      | $590379.87    | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| Boardwalk REIT                                    | Boardwalk REIT                                    | CUSIP: 096631106<br>LEI: 549300RMNRTTJRCOYW23 | Long             | EC               | CORP              | CA        |     17400 | NS      | $803096.03    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Centuria Industrial REIT                          | Centuria Industrial REIT                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     24120 | NS      | $55897.16     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| VGP NV                                            | VGP NV                                            | CUSIP: N/A<br>LEI: 315700NENYPIXFR94T49       | Long             | EC               | CORP              | BE        |      8640 | NS      | $999223.26    | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Innovative Industrial Properties, Inc.            | Innovative Industrial Properties, Inc.            | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |     13920 | NS      | $698088.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp.                               | Kilroy Realty Corp.                               | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |     53760 | NS      | $2271360.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: —       |
| Camden Property Trust                             | Camden Property Trust                             | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     50880 | NS      | $5061542.40   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co. (The)                                  | St Joe Co. (The)                                  | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |     19800 | NS      | $1124244.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| UOL Group Ltd.                                    | UOL Group Ltd.                                    | CUSIP: N/A<br>LEI: 254900O9PRCWTMR86R25       | Long             | EC               | CORP              | SG        |    220300 | NS      | $1345718.24   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Hang Lung Properties Ltd.                         | Hang Lung Properties Ltd.                         | CUSIP: N/A<br>LEI: 529900CIVTNMXQT59E61       | Long             | EC               | CORP              | HK        |   1007000 | NS      | $1120731.58   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Real Estate Investment Corp.             | Frontier Real Estate Investment Corp.             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      1560 | NS      | $916425.95    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Unibail-Rodamco-Westfield                         | Unibail-Rodamco-Westfield                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | FR        |     58200 | NS      | $6021516.80   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT, Inc.                      | Sabra Health Care REIT, Inc.                      | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |    114360 | NS      | $2037895.20   | 0.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Prologis, Inc.                                    | Prologis, Inc.                                    | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     87480 | NS      | $10855393.20  | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Mivne Real Estate KD Ltd.                         | Mivne Real Estate KD Ltd.                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |    286680 | NS      | $1271216.40   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT, Inc.                                    | NNN REIT, Inc.                                    | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     89280 | NS      | $3612268.80   | 1.01%             |  |  |  | No            |                  1 | On Loan: —       |
| National Storage REIT                             | National Storage REIT                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    614040 | NS      | $924556.96    | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| American Homes 4 Rent                             | American Homes 4 Rent, Class A                    | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |    158520 | NS      | $5009232.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp.                             | Regency Centers Corp.                             | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     83400 | NS      | $5750430.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Australian Dollar                                 | Australian Dollar                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | AU        |    110922 | OU      | $72614.86     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                                | Equity Residential                                | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |    162960 | NS      | $9686342.40   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey, Inc.                                    | WP Carey, Inc.                                    | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |    104760 | NS      | $6914160.00   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HomeCo Daily Needs REIT                           | HomeCo Daily Needs REIT                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   1082880 | NS      | $967658.59    | 0.27%             |  |  |  | Yes           |                  1 | On Loan: —       |
| Mori Trust Reit, Inc.                             | Mori Trust REIT, Inc.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      1800 | NS      | $907857.58    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Aroundtown SA                                     | Aroundtown SA                                     | CUSIP: N/A<br>LEI: 529900H4DWG3KWMBMQ39       | Long             | EC               | CORP              | DE        |    371160 | NS      | $1326304.33   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| RioCan REIT                                       | RioCan REIT                                       | CUSIP: 766910103<br>LEI: 549300S8HVUSEU3JBY60 | Long             | EC               | CORP              | CA        |     78120 | NS      | $1046506.37   | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| CF SECURED LLC                                    | Treasury Repurchase Agreement                     | CUSIP: N/A<br>LEI: 254900OXTV81I73FAT50       | Long             | RA               | CORP              | US        |    994329 | PA      | $994328.60    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Rayonier, Inc.                                    | Rayonier, Inc.                                    | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |     71280 | NS      | $1573149.60   | 0.44%             |  |  |  | No            |                  1 | On Loan: —       |
| Swire Properties Ltd.                             | Swire Properties Ltd.                             | CUSIP: N/A<br>LEI: 5299001L12PHYVQ92465       | Long             | EC               | CORP              | HK        |    173000 | NS      | $471886.98    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger, Inc.                                      | Tanger, Inc.                                      | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |     54000 | NS      | $1758240.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: —       |
| Tokyo Tatemono Co. Ltd.                           | Tokyo Tatemono Co. Ltd.                           | CUSIP: N/A<br>LEI: 529900RQA4JTW1869J86       | Long             | EC               | CORP              | JP        |     89100 | NS      | $1664244.91   | 0.47%             |  |  |  | No            |                  1 | On Loan: —       |
| Four Corners Property Trust, Inc.                 | Four Corners Property Trust, Inc.                 | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |     47400 | NS      | $1120536.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Intershop Holding AG                              | Intershop Holding AG                              | CUSIP: N/A<br>LEI: 506700CGX4K77JX3R725       | Long             | EC               | CORP              | CH        |       938 | NS      | $184152.97    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts, Inc.                       | Park Hotels & Resorts, Inc.                       | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |     93960 | NS      | $966848.40    | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| Singapore Dollar                                  | Singapore Dollar                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | SG        |    191318 | OU      | $147003.47    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Group, Inc.                             | Paramount Group, Inc.                             | CUSIP: 69924R108<br>LEI: 5493006GJU1CFI7Z5J17 | Long             | EC               | CORP              | US        |    136320 | NS      | $891532.80    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-2065.83     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Realty & Development Co. Ltd.            | Sumitomo Realty & Development Co. Ltd.            | CUSIP: N/A<br>LEI: 353800SO2DCLOI3LNZ64       | Long             | EC               | CORP              | JP        |    148300 | NS      | $6335154.98   | 1.78%             |  |  |  | No            |                  1 | On Loan: —       |
| Mid-America Apartment Communities, Inc.           | Mid-America Apartment Communities, Inc.           | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     55800 | NS      | $7155234.00   | 2.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Starhill Global REIT                              | Starhill Global REIT                              | CUSIP: N/A<br>LEI: 549300GCJNC7HDN3YK51       | Long             | EC               | CORP              | SG        |    228000 | NS      | $101609.74    | 0.03%             |  |  |  | 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      | $-9111.26     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Shaftesbury Capital plc                           | Shaftesbury Capital plc                           | CUSIP: N/A<br>LEI: 549300TTXXZ1SHUI0D54       | Long             | EC               | CORP              | GB        |    707040 | NS      | $1304238.08   | 0.37%             |  |  |  | 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      | $1168.89      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tritax Big Box REIT plc                           | Tritax Big Box REIT plc                           | CUSIP: N/A<br>LEI: 213800L6X88MIYPVR714       | Long             | EC               | CORP              | GB        |   1055760 | NS      | $2082052.52   | 0.58%             |  |  |  | No            |                  1 | On Loan: —       |
| KDX Realty Investment Corp.                       | KDX Realty Investment Corp.                       | CUSIP: N/A<br>LEI: 353800FFT483NCIHFY42       | Long             | EC               | CORP              | JP        |      1962 | NS      | $2170165.20   | 0.61%             |  |  |  | No            |                  1 | On Loan: —       |
| Mobimo Holding AG                                 | Mobimo Holding AG (Registered)                    | CUSIP: N/A<br>LEI: 50670018HN8O1GD3O385       | Long             | EC               | CORP              | CH        |      3480 | NS      | $1478268.45   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PSP Swiss Property AG                             | PSP Swiss Property AG (Registered)                | CUSIP: N/A<br>LEI: 50670042Y437P8X44F56       | Long             | EC               | CORP              | CH        |     21960 | NS      | $3805214.57   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Colonial SFL Socimi SA                            | Colonial SFL Socimi SA                            | CUSIP: N/A<br>LEI: 95980020140005007414       | Long             | EC               | CORP              | ES        |    151800 | NS      | $961013.47    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties, Inc.                          | Cousins Properties, Inc.                          | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |     79560 | NS      | $2062990.80   | 0.58%             |  |  |  | No            |                  1 | On Loan: —       |
| Hongkong Land Holdings Ltd.                       | Hongkong Land Holdings Ltd.                       | CUSIP: N/A<br>LEI: 213800XCHYNRPAYGXW28       | Long             | EC               | CORP              | SG        |    221300 | NS      | $1352143.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Hall Retail REIT                          | Charter Hall Retail REIT                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    343920 | NS      | $927606.58    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings, Inc.                      | Howard Hughes Holdings, Inc.                      | CUSIP: 44267T102<br>LEI: 254900TY494BHXIU6M60 | Long             | EC               | CORP              | US        |     13800 | NS      | $1094064.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp.                              | American Tower Corp.                              | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |    126240 | NS      | $22594435.20  | 6.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Retail Estates NV                                 | Retail Estates NV                                 | CUSIP: N/A<br>LEI: 5493007CO5W5OBFG7L21       | Long             | EC               | CORP              | BE        |      1889 | NS      | $137139.85    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $4918.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | Forward Foreign Currency Contract                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-456.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Alexander & Baldwin, Inc.                         | Alexander & Baldwin, Inc.                         | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     49080 | NS      | $783807.60    | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Montea NV                                         | Montea NV                                         | CUSIP: N/A<br>LEI: 5493006K5LQDD0GK1T60       | Long             | EC               | CORP              | BE        |     11336 | NS      | $915880.78    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp.                                | Agree Realty Corp.                                | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50520 | NS      | $3688465.20   | 1.04%             |  |  |  | No            |                  1 | On Loan: —       |
| H&R REIT                                          | H&R REIT                                          | CUSIP: 403925407<br>LEI: 549300TGNP6B6GUVGW10 | Long             | EC               | CORP              | CA        |    102720 | NS      | $820352.42    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Ichigo, Inc.                                      | Ichigo, Inc.                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    276000 | NS      | $671837.98    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Amot Investments Ltd.                             | Amot Investments Ltd.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |    140760 | NS      | $1115975.66   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust, Inc.                   | Independence Realty Trust, Inc.                   | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |    112560 | NS      | $1793080.80   | 0.50%             |  |  |  | No            |                  1 | On Loan: —       |
| Getty Realty Corp.                                | Getty Realty Corp.                                | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |     32760 | NS      | $898606.80    | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| Covivio SA                                        | Covivio SA                                        | CUSIP: N/A<br>LEI: 969500P8M3W2XX376054       | Long             | EC               | CORP              | FR        |      5880 | NS      | $377340.30    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC                      | Treasury Repurchase Agreement                     | CUSIP: N/A<br>LEI: MBNUM2BPBDO7JBLYG310       | Long             | RA               | CORP              | US        |   8942031 | PA      | $8942031.15   | 2.51%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | S&P Midcap 400 E-Mini Index                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        11 | NC      | $-50588.51    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Vicinity Ltd.                                     | Vicinity Ltd.                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   1906169 | NS      | $3144641.31   | 0.88%             |  |  |  | No            |                  1 | On Loan: —       |
| Parkway Life REIT                                 | Parkway Life REIT                                 | CUSIP: N/A<br>LEI: 549300I4DKVD2OF5LW91       | Long             | EC               | CORP              | SG        |    288000 | NS      | $907295.71    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Estate Logistics REIT Investment Corp. | Mitsubishi Estate Logistics REIT Investment Corp. | CUSIP: N/A<br>LEI: 353800YYSGZU31ICQK38       | Long             | EC               | CORP              | JP        |      1055 | NS      | $845068.32    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| International Workplace Group plc                 | International Workplace Group plc                 | CUSIP: N/A<br>LEI: 2138003LWDII27UTAG52       | Long             | EC               | CORP              | GB        |    360720 | NS      | $1072981.98   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Choice Properties REIT                            | Choice Properties REIT                            | CUSIP: 17039A106<br>LEI: 5493007MYGFSLOZGT937 | Long             | EC               | CORP              | CA        |     91440 | NS      | $968468.47    | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| Invitation Homes, Inc.                            | Invitation Homes, Inc.                            | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    181080 | NS      | $5097402.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Hulic Co. Ltd.                                    | Hulic Co. Ltd.                                    | CUSIP: N/A<br>LEI: 3538002E12E7IHAKTB10       | Long             | EC               | CORP              | JP        |    101800 | NS      | $1050676.71   | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| Melisron Ltd.                                     | Melisron Ltd.                                     | CUSIP: N/A<br>LEI: 213800B9SL62L9VLO604       | Long             | EC               | CORP              | IL        |     12480 | NS      | $1626825.64   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Real Estate Holdings, Inc.                 | Nomura Real Estate Holdings, Inc.                 | CUSIP: N/A<br>LEI: 353800UZ91CT24OL9P59       | Long             | EC               | CORP              | JP        |    264200 | NS      | $1507460.32   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO                                              | EURO                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |    301927 | OU      | $348484.19    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| British Pound                                     | British Pound                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | GB        |    102189 | OU      | $134260.77    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                                 | RLJ Lodging Trust                                 | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96120 | NS      | $653616.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| CareTrust REIT, Inc.                              | CareTrust REIT, Inc.                              | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |     91560 | NS      | $3172554.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: —       |
| Airport City Ltd.                                 | Airport City Ltd.                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |     47160 | NS      | $934446.81    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Fukuoka REIT Corp.                                | Fukuoka REIT Corp.                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |       659 | NS      | $808483.98    | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Klepierre SA                                      | Klepierre SA                                      | CUSIP: N/A<br>LEI: 969500PB4U31KEFHZ621       | Long             | EC               | CORP              | FR        |    103080 | NS      | $3942829.38   | 1.11%             |  |  |  | No            |                  1 | On Loan: —       |
| CapitaLand Integrated Commercial Trust            | CapitaLand Integrated Commercial Trust            | CUSIP: N/A<br>LEI: 54930031292WUTXF0L29       | Long             | EC               | CORP              | SG        |   2795300 | NS      | $5090369.20   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

**Name of Applicant:** FlexShares Trust

**Signature:** Randal Rein

**Name of Signer:** Randal Rein

**Title:** Treasurer and PFO