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Investments	Shares		Value ($)
COMMON STOCKS - 99.7%

Aerospace & Defense - 2.6%
General Dynamics Corp.		1,911		427,262
Huntington Ingalls Industries, Inc.		4,557		1,046,606
Lockheed Martin Corp.		5,733		2,559,039
Northrop Grumman Corp.		2,793		1,242,885

				5,275,792

Air Freight & Logistics - 2.0%
CH Robinson Worldwide, Inc.		14,553		1,457,920
Expeditors International of Washington, Inc.		13,524		1,721,605
United Parcel Service, Inc., Class B		4,263		797,735

				3,977,260

Automobile Components - 0.0%(a)
Gentex Corp.		1,764		59,235

Automobiles - 0.2%
Tesla, Inc.*		1,764		471,747

Banks - 1.4%
JPMorgan Chase & Co.		294		46,440
Popular, Inc.		7,350		533,243
Prosperity Bancshares, Inc.		19,404		1,228,661
SouthState Corp.		12,054		936,234

				2,744,578

Beverages - 2.1%
PepsiCo, Inc.		22,344		4,188,606

Biotechnology - 6.1%
AbbVie, Inc.		7,350		1,099,413
Amgen, Inc.		12,789		2,994,544
Biogen, Inc.*		5,439		1,469,563
BioMarin Pharmaceutical, Inc.*		6,321		555,806
Gilead Sciences, Inc.		30,135		2,294,479
Regeneron Pharmaceuticals, Inc.*		2,646		1,963,094
United Therapeutics Corp.*		1,029		249,759
Vertex Pharmaceuticals, Inc.*		4,263		1,502,025

				12,128,683

Broadline Retail - 0.3%
Dillard’s, Inc., Class A(b)		1,764		605,123

Capital Markets - 0.7%
CME Group, Inc.		6,909		1,374,615

Chemicals - 0.5%
Ashland, Inc.		9,408		859,515
Linde plc		588		229,714

				1,089,229

Commercial Services & Supplies - 2.4%
Republic Services, Inc., Class A		7,644		1,155,085
Tetra Tech, Inc.		7,056		1,193,946
Waste Connections, Inc.		7,938		1,120,607


Investments	Shares		Value ($)
Waste Management, Inc.		7,791		1,276,088

				4,745,726

Consumer Staples Distribution & Retail - 1.6%
Costco Wholesale Corp.		2,940		1,648,370
Kroger Co. (The)		32,487		1,580,167

				3,228,537

Containers & Packaging - 0.8%
Packaging Corp. of America(b)		10,584		1,623,056

Distributors - 0.2%
Genuine Parts Co.		2,352		366,253

Diversified Consumer Services - 0.5%
Service Corp. International(b)		15,288		1,018,945

Diversified Telecommunication Services - 2.3%
AT&T, Inc.		172,284		2,501,564
Iridium Communications, Inc.		6,909		363,068
Verizon Communications, Inc.		50,421		1,718,347

				4,582,979

Electric Utilities - 3.9%
American Electric Power Co., Inc.		13,377		1,133,567
Duke Energy Corp.		18,963		1,775,316
Eversource Energy		14,553		1,052,619
Pinnacle West Capital Corp.		18,816		1,558,341
PNM Resources, Inc.		21,315		955,338
Portland General Electric Co.		4,998		238,255
Xcel Energy, Inc.		17,052		1,069,672

				7,783,108

Entertainment - 1.8%
Activision Blizzard, Inc.*		16,023		1,486,294
Electronic Arts, Inc.		3,234		440,956
Madison Square Garden Sports Corp.		7,791		1,657,535

				3,584,785

Financial Services - 4.5%
Berkshire Hathaway, Inc., Class B*(b)		12,348		4,346,002
Visa, Inc., Class A(b)		19,698		4,682,806

				9,028,808

Food Products - 2.8%
Flowers Foods, Inc.		34,398		849,975
General Mills, Inc.		1,617		120,854
Hershey Co. (The)		6,027		1,394,105
Hormel Foods Corp.		22,785		931,451
J M Smucker Co. (The)		6,762		1,018,695
Lancaster Colony Corp.(b)		6,909		1,330,881

				5,645,961

Ground Transportation - 2.4%
JB Hunt Transport Services, Inc.		5,439		1,109,229
Landstar System, Inc.(b)		8,232		1,675,953
Old Dominion Freight Line, Inc.		4,557		1,911,616

				4,696,798


Investments	Shares		Value ($)
Health Care Equipment & Supplies - 1.5%
Abbott Laboratories		26,313		2,929,426

Health Care Providers & Services - 1.1%
Chemed Corp.(b)		2,646		1,378,804
Laboratory Corp. of America Holdings		1,029		220,134
Premier, Inc., Class A		13,377		371,212
UnitedHealth Group, Inc.		588		297,745

				2,267,895

Hotels, Restaurants & Leisure - 1.6%
McDonald’s Corp.		10,878		3,189,430

Household Products - 2.7%
Clorox Co. (The)		8,673		1,313,786
Procter & Gamble Co. (The)		26,019		4,066,770

				5,380,556

Insurance - 6.0%
Allstate Corp. (The)		5,439		612,866
American Financial Group, Inc.		6,321		768,697
Assurant, Inc.		11,319		1,522,519
Chubb Ltd.		10,143		2,073,331
Everest Group Ltd.		2,793		1,006,904
Hanover Insurance Group, Inc. (The)		8,232		934,167
Markel Group, Inc.*		757		1,097,430
Progressive Corp. (The)		9,849		1,240,777
RenaissanceRe Holdings Ltd.		5,292		988,334
Selective Insurance Group, Inc.		441		45,507
Travelers Cos., Inc. (The)		9,114		1,573,168
W R Berkley Corp.		1,470		90,684

				11,954,384

Interactive Media & Services - 2.1%
Alphabet, Inc., Class A*		12,789		1,697,356
Alphabet, Inc., Class C*		10,731		1,428,404
Meta Platforms, Inc., Class A*		3,087		983,518

				4,109,278

IT Services - 1.6%
Amdocs Ltd.		15,729		1,472,864
International Business Machines Corp.		11,907		1,716,751

				3,189,615

Life Sciences Tools & Services - 0.8%
QIAGEN NV*		33,075		1,548,571

Metals & Mining - 0.5%
Newmont Corp.		25,137		1,078,880

Multi-Utilities - 2.5%
Ameren Corp.		12,789		1,095,634
CMS Energy Corp.(b)		17,934		1,095,229
Consolidated Edison, Inc.		16,758		1,589,664
Dominion Energy, Inc.		1,764		94,462
WEC Energy Group, Inc.		12,201		1,096,382

				4,971,371

Oil, Gas & Consumable Fuels - 1.2%
Chesapeake Energy Corp.(b)		5,292		446,327


Investments	Shares		Value ($)
Chevron Corp.		2,205		360,870
Coterra Energy, Inc.		42,483		1,169,982
Exxon Mobil Corp.		4,116		441,400

				2,418,579

Pharmaceuticals - 7.6%
Eli Lilly & Co.		12,201		5,545,965
Johnson & Johnson		26,754		4,482,098
Merck & Co., Inc.		48,216		5,142,236

				15,170,299

Professional Services - 2.8%
Automatic Data Processing, Inc.		7,791		1,926,402
CACI International, Inc., Class A*		3,234		1,133,323
FTI Consulting, Inc.*		5,586		978,444
Verisk Analytics, Inc., Class A		6,468		1,480,784

				5,518,953

Residential REITs - 0.2%
Essex Property Trust, Inc., REIT		1,764		429,622

Semiconductors & Semiconductor Equipment - 2.4%
Broadcom, Inc.		189		169,845
NVIDIA Corp.		5,675		2,651,871
Texas Instruments, Inc.		11,025		1,984,500

				4,806,216

Software - 12.6%
Black Knight, Inc.*		17,934		1,261,119
Cadence Design Systems, Inc.*		2,940		687,990
Check Point Software Technologies Ltd.*		12,495		1,651,964
Dolby Laboratories, Inc., Class A		8,673		768,515
Microsoft Corp.		46,158		15,505,395
Roper Technologies, Inc.		2,646		1,304,610
Tyler Technologies, Inc.*		3,822		1,515,920
VMware, Inc., Class A*		8,673		1,367,125
Zoom Video Communications, Inc., Class A*		15,141		1,110,592

				25,173,230

Specialized REITs - 1.6%
Equinix, Inc., REIT		1,911		1,547,757
Extra Space Storage, Inc., REIT		588		82,067
Public Storage, REIT		5,586		1,573,856

				3,203,680

Specialty Retail - 3.8%
AutoZone, Inc.*		176		436,783
Home Depot, Inc. (The)		16,317		5,447,267
O’Reilly Automotive, Inc.*		1,868		1,729,376

				7,613,426

Technology Hardware, Storage & Peripherals - 6.5%
Apple, Inc.		66,150		12,995,167

Tobacco - 0.8%
Altria Group, Inc.		36,015		1,635,801

Wireless Telecommunication Services - 0.7%
T-Mobile US, Inc.*		9,702		1,336,645

TOTAL COMMON STOCKS (Cost $174,688,569)				199,140,848


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 0.1%(c)
REPURCHASE AGREEMENTS - 0.1%
CF Secured LLC, 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $285,441, collateralized by various U.S. Treasury Securities, ranging from 0.00% - 6.75%, maturing 10/31/2023 - 11/15/2052; total market value $290,580 (Cost $285,399)		285,399		285,399


Investments	Principal Amount ($)		Value ($)
SHORT-TERM INVESTMENTS - 0.0%(a)(d)(e)
U.S. TREASURY OBLIGATIONS - 0.0%(a)
U.S. Treasury Bills 5.06%, 10/26/2023 (Cost $59,290)		60,000		59,246

Total Investments - 99.8% (Cost $175,033,258)				199,485,493
Other assets less liabilities - 0.2%				369,574

Net Assets - 100.0%				199,855,067

*	Non-income producing security.

(a)	Represents less than 0.05% of net assets.

(b)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $13,044,542, collateralized in the form of cash with a value of $285,399 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments and $12,968,315 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 6.13%, and maturity dates ranging from August 15, 2023 – November 15, 2052; a total value of $13,253,714.

(c)	The security was purchased with cash collateral held from securities on loan at July 31, 2023. The total value of securities purchased was $285,399.

(d)	All or a portion of the security pledged as collateral for Futures Contracts.

(e)	The rate shown was the current yield as of July 31, 2023.

Percentages

shown are based on Net Assets.


Abbreviations

REIT Real Estate Investment Trust

FlexShares^® US Quality Low Volatility Index Fund had the following open futures contracts as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 98.9%

Aerospace & Defense - 1.7%
BAE Systems plc		51,828		621,099
Dassault Aviation SA		1,400		272,749
Thales SA		2,184		327,364

				1,221,212

Air Freight & Logistics - 0.8%
SG Holdings Co. Ltd.		23,900		348,962
Yamato Holdings Co. Ltd.		14,000		262,303

				611,265

Automobile Components - 0.2%
Bridgestone Corp.		2,800		116,135

Automobiles - 1.2%
Bayerische Motoren Werke AG (Preference)		252		28,395
Ferrari NV		2,380		764,654
Toyota Motor Corp.		5,600		94,043

				887,092

Banks - 13.1%
Bank Hapoalim BM		63,840		569,457
Bank Leumi Le-Israel BM		73,360		588,098
Banque Cantonale Vaudoise (Registered)(a)		5,712		644,441
BOC Hong Kong Holdings Ltd.		196,000		595,638
Chiba Bank Ltd. (The)(a)		39,200		275,542
DBS Group Holdings Ltd.		30,800		794,704
Hang Seng Bank Ltd.		20,900		318,108
HSBC Holdings plc		13,580		112,926
Japan Post Bank Co. Ltd.		70,000		582,841
Mizrahi Tefahot Bank Ltd.		15,708		569,384
Mizuho Financial Group, Inc.		42,000		710,642
Oversea-Chinese Banking Corp. Ltd.		72,800		729,206
Resona Holdings, Inc.		50,400		274,703
Royal Bank of Canada		11,928		1,184,689
Sumitomo Mitsui Financial Group, Inc.		21,700		1,022,380
Toronto-Dominion Bank (The)		7,028		464,315
United Overseas Bank Ltd.		2,800		63,473

				9,500,547

Beverages - 0.9%
Budweiser Brewing Co. APAC Ltd.(b)		173,600		420,716
Suntory Beverage & Food Ltd.		5,600		199,477

				620,193

Biotechnology - 0.1%
Genmab A/S*		224		92,360

Broadline Retail - 1.8%
Dollarama, Inc.		5,208		343,679


Investments	Shares		Value ($)
Pan Pacific International Holdings Corp.		18,500		365,755
Wesfarmers Ltd.		18,200		608,911

				1,318,345

Capital Markets - 1.8%
Deutsche Boerse AG		3,808		731,801
Singapore Exchange Ltd.		81,200		593,803

				1,325,604

Chemicals - 2.9%
Air Liquide SA		8,372		1,507,903
ICL Group Ltd.		88,620		590,211

				2,098,114

Commercial Services & Supplies - 1.5%
Brambles Ltd.		25,956		246,091
Dai Nippon Printing Co. Ltd.		9,500		270,063
Secom Co. Ltd.		8,400		563,606

				1,079,760

Construction & Engineering - 0.2%
Taisei Corp.		2,800		106,143

Consumer Staples Distribution & Retail - 3.2%
Carrefour SA		1,400		28,077
Coles Group Ltd.		7,224		88,547
Jeronimo Martins SGPS SA		12,852		350,848
Koninklijke Ahold Delhaize NV		20,048		693,732
Loblaw Cos. Ltd.		6,608		587,378
Metro, Inc., Class A		10,388		560,104

				2,308,686

Containers & Packaging - 0.4%
CCL Industries, Inc., Class B		5,320		255,522

Diversified Consumer Services - 0.0%(c)
Pearson plc		1,064		11,836

Diversified Telecommunication Services - 4.7%
Deutsche Telekom AG (Registered)		16,716		365,693
Elisa OYJ		9,464		495,014
HKT Trust & HKT Ltd.		28,000		32,995
Koninklijke KPN NV		165,228		599,711
Nippon Telegraph & Telephone Corp.		490,000		561,803
Orange SA		33,348		378,121
Singapore Telecommunications Ltd.		84,000		168,278
Swisscom AG (Registered)		924		597,346
Telefonica Deutschland Holding AG		86,408		233,505

				3,432,466

Electric Utilities - 4.1%
CLP Holdings Ltd.		41,000		333,575
Emera, Inc.(a)		1,988		80,789
Fortis, Inc.(a)		8,176		349,153
Hydro One Ltd.(b)		20,412		576,886
Iberdrola SA(a)		62,891		787,361


Investments	Shares		Value ($)
Kansai Electric Power Co., Inc. (The)		25,200		331,672
Power Assets Holdings Ltd.		51,000		266,814
Redeia Corp. SA		15,204		254,884

				2,981,134

Electronic Equipment, Instruments & Components - 0.7%
Hirose Electric Co. Ltd.		4,000		506,475

Entertainment - 0.5%
Nintendo Co. Ltd.		2,800		127,111
Toho Co. Ltd.(a)		6,600		257,348

				384,459

Food Products - 5.5%
MEIJI Holdings Co. Ltd.		11,200		259,189
Nestle SA (Registered)		26,264		3,238,272
Nissin Foods Holdings Co. Ltd.		600		50,676
Yakult Honsha Co. Ltd.		8,100		450,323

				3,998,460

Gas Utilities - 1.7%
Hong Kong & China Gas Co. Ltd.		308,000		263,423
Naturgy Energy Group SA(a)		3,472		106,190
Osaka Gas Co. Ltd.		16,800		264,628
Snam SpA		52,808		278,425
Tokyo Gas Co. Ltd.		14,000		317,779

				1,230,445

Ground Transportation - 3.9%
Aurizon Holdings Ltd.		125,048		321,044
Canadian National Railway Co.		5,544		673,241
Hankyu Hanshin Holdings, Inc.		8,400		279,113
Keio Corp.		7,000		232,742
Keisei Electric Railway Co. Ltd.		7,100		294,834
Kintetsu Group Holdings Co. Ltd.		16,100		540,633
Tobu Railway Co. Ltd.		10,200		270,004
Tokyu Corp.		19,600		248,932

				2,860,543

Health Care Providers & Services - 0.2%
Fresenius Medical Care AG & Co. KGaA		560		29,155
Sonic Healthcare Ltd.		5,460		129,325

				158,480

Hotels, Restaurants & Leisure - 1.0%
Genting Singapore Ltd.		730,800		517,361
La Francaise des Jeux SAEM(b)		392		15,006
Sodexo SA		1,652		170,011

				702,378

Household Durables - 1.0%
Sekisui Chemical Co. Ltd.		29,300		445,233
Sekisui House Ltd.(a)		14,000		285,656

				730,889

Household Products - 0.8%
Henkel AG & Co. KGaA		420		29,423
Reckitt Benckiser Group plc		7,588		569,970

				599,393

Industrial Conglomerates - 2.5%
CK Hutchison Holdings Ltd.		51,500		317,636
Jardine Cycle & Carriage Ltd.		8,400		216,864
Jardine Matheson Holdings Ltd.		11,200		553,056


Investments	Shares		Value ($)
Keppel Corp. Ltd.		30,800		171,189
Siemens AG (Registered)		140		23,922
Toshiba Corp.		15,900		513,549

				1,796,216

Insurance - 3.7%
AIA Group Ltd.		44,800		444,628
Hannover Rueck SE		1,428		305,678
Intact Financial Corp.		3,024		447,563
Japan Post Holdings Co. Ltd.		39,200		286,661
Medibank Pvt Ltd.		121,744		287,951
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		196		74,036
Sampo OYJ, Class A		12,684		560,648
Zurich Insurance Group AG		616		299,028

				2,706,193

IT Services - 2.4%
CGI, Inc.*		3,612		367,718
Itochu Techno-Solutions Corp.		10,400		263,660
Obic Co. Ltd.		3,400		556,855
SCSK Corp.		33,600		558,699

				1,746,932

Machinery - 1.5%
GEA Group AG		7,420		315,702
Hoshizaki Corp.		4,000		153,379
Kone OYJ, Class B		11,116		571,617
Schindler Holding AG (Registered)		140		32,559

				1,073,257

Marine Transportation - 0.7%
Kuehne + Nagel International AG (Registered)		1,512		475,133

Metals & Mining - 0.7%
BHP Group Ltd.		2,492		77,261
Franco-Nevada Corp.		3,136		458,446

				535,707

Multi-Utilities - 1.4%
Canadian Utilities Ltd., Class A(a)		19,376		483,425
National Grid plc		38,976		517,281

				1,000,706

Oil, Gas & Consumable Fuels - 2.9%
ENEOS Holdings, Inc.		86,800		314,870
Galp Energia SGPS SA		16,268		217,029
Idemitsu Kosan Co. Ltd.		11,200		236,487
Pembina Pipeline Corp.		5,320		168,745
Shell plc		29,792		906,932
TotalEnergies SE		3,976		242,245

				2,086,308

Personal Care Products - 2.7%
Unilever plc		35,644		1,922,049

Pharmaceuticals - 11.4%
AstraZeneca plc		2,940		423,138
GSK plc		44,548		793,621
Novartis AG (Registered)		4,032		423,596
Novo Nordisk A/S, Class B		9,996		1,615,201
Roche Holding AG		112		37,340


Investments	Shares		Value ($)
Roche Holding AG - BR		9,492		2,963,068
Sanofi		19,124		2,047,159

				8,303,123

Professional Services - 2.1%
RELX plc		6,440		217,094
SGS SA (Registered)		5,964		580,954
Wolters Kluwer NV		5,740		722,730

				1,520,778

Real Estate Management & Development - 2.1%
CK Asset Holdings Ltd.		102,000		588,559
Hongkong Land Holdings Ltd.		2,800		9,968
PSP Swiss Property AG (Registered)		2,800		332,053
Sino Land Co. Ltd.		11,163		13,670
Sun Hung Kai Properties Ltd.		46,500		581,645

				1,525,895

Retail REITs - 0.3%
Link REIT, REIT		37,362		209,118

Semiconductors & Semiconductor Equipment - 0.9%
ASML Holding NV		896		644,298

Software - 1.9%
Constellation Software, Inc.		28		59,264
Nice Ltd.*		1,232		267,306
Oracle Corp. Japan		7,300		512,562
SAP SE		4,004		549,178

				1,388,310

Specialty Retail - 1.1%
Industria de Diseno Textil SA		20,776		797,378

Textiles, Apparel & Luxury Goods - 0.8%
LVMH Moet Hennessy Louis Vuitton SE		588		549,823

Tobacco - 0.3%
Japan Tobacco, Inc.		10,200		226,356

Trading Companies & Distributors - 2.3%
Bunzl plc		7,952		295,484
Ferguson plc		3,528		567,640
ITOCHU Corp.		20,700		837,732

				1,700,856

Transportation Infrastructure - 0.8%
Aena SME SA(b)		1,652		264,834
Auckland International Airport Ltd.*		3,892		20,346
Flughafen Zurich AG (Registered)		1,372		291,699
Getlink SE		1,148		20,245

				597,124

Wireless Telecommunication Services - 2.5%
KDDI Corp.		27,400		807,459
Rogers Communications, Inc., Class B		1,232		54,044
SoftBank Corp.		47,600		528,666


Investments	Shares		Value ($)
Vodafone Group plc		428,820		410,661

				1,800,830

TOTAL COMMON STOCKS (Cost $66,251,250)				71,744,326


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 0.5%(d)
REPURCHASE AGREEMENTS - 0.5%
CF Secured LLC, 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $372,547, collateralized by various U.S. Treasury Securities, ranging from 0.00% - 6.75%, maturing 10/31/2023 - 11/15/2052; total market value $379,255 (Cost $372,493)		372,493		372,493

Total Investments - 99.4% (Cost $66,623,743)				72,116,819
Other assets less liabilities - 0.6%				451,538

Net Assets - 100.0%				72,568,357

*	Non-income producing security.

(a)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $1,741,954, collateralized in the form of cash with a value of $372,493 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $483,246 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.13% – 4.63%, and maturity dates ranging from January 15, 2024 – February 15, 2051 and $999,717 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 5.75%, and maturity dates ranging from September 7, 2023 – October 22, 2071; a total value of $1,855,456.

(b)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.

(c)	Represents less than 0.05% of net assets.

(d)	The security was purchased with cash collateral held from securities on loan at July 31, 2023. The total value of securities purchased was $372,493.

Percentages shown are based on Net Assets.


Abbreviations

OYJ		Public Limited Company

FlexShares^® Developed Markets ex-US Quality Low Volatility Index Fund had the following outstanding contracts as of July 31, 2023:

FlexShares^® Developed Markets ex-US Quality Low Volatility Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 98.1%

Automobile Components - 0.4%
Cheng Shin Rubber Industry Co. Ltd.		64,000		78,303

Automobiles - 1.4%
Bajaj Auto Ltd.		1,856		111,280
Hero MotoCorp Ltd.		2,752		107,194
Maruti Suzuki India Ltd.		456		54,448

				272,922

Banks - 17.2%
Abu Dhabi Islamic Bank PJSC		29,560		90,457
Agricultural Bank of China Ltd., Class H		424,000		153,861
Al Rajhi Bank		2,808		55,837
Axis Bank Ltd.		984		11,412
Banco BBVA Peru SA		14,012		5,949
Bank Central Asia Tbk. PT		156,800		94,881
Bank of China Ltd., Class H		536,000		198,628
Bank of Communications Co. Ltd., Class H		224,000		134,997
Boubyan Bank KSCP		39,968		80,691
Chang Hwa Commercial Bank Ltd.		168,472		101,051
China CITIC Bank Corp. Ltd., Class H		192,000		92,569
China Construction Bank Corp., Class H		592,000		343,873
China Everbright Bank Co. Ltd., Class H		264,000		78,536
China Merchants Bank Co. Ltd., Class H		1,000		4,930
Dubai Islamic Bank PJSC		100,992		158,099
Emirates NBD Bank PJSC		18,040		83,495
First Financial Holding Co. Ltd.		160,000		147,901
Grupo Financiero Banorte SAB de CV, Class O		800		7,602
Hong Leong Bank Bhd.		22,400		97,270
ICICI Bank Ltd.		9,592		116,424
Industrial & Commercial Bank of China Ltd., Class H		760,000		370,318
Itau Unibanco Holding SA (Preference)		4,000		24,082
Kuwait Finance House KSCP		56,856		146,074
Malayan Banking Bhd.		60,985		121,997
National Bank of Kuwait SAKP		105,432		330,269
Qatar International Islamic Bank QSC		33,328		95,040
Qatar National Bank QPSC		32,208		150,245
Sberbank of Russia PJSC‡		12,360		—

				3,296,488

Beverages - 0.5%
Emperador, Inc.		248,800		94,900


Investments	Shares		Value ($)
Broadline Retail - 4.3%
Alibaba Group Holding Ltd., ADR*		5,896		602,335
JD.com, Inc., ADR		128		5,288
PDD Holdings, Inc., ADR*		592		53,173
Prosus NV*		2,056		163,281
Robinson PCL*‡		600		—
Vipshop Holdings Ltd., ADR*		296		5,574

				829,651

Capital Markets - 0.8%
Macquarie Korea Infrastructure Fund		15,392		146,475

Chemicals - 3.3%
Asian Paints Ltd.		3,936		161,623
Fertiglobe plc		158,576		154,559
Mesaieed Petrochemical Holding Co.		61,528		32,961
PhosAgro PJSC‡		1,158		—
Pidilite Industries Ltd.		3,384		107,588
SABIC Agri-Nutrients Co.		4,480		172,197

				628,928

Construction & Engineering - 0.5%
China Railway Group Ltd., Class H		144,000		94,354

Construction Materials - 1.1%
Asia Cement Corp.		40,000		51,294
LafargeHolcim Maroc SA		896		163,506

				214,800

Consumer Finance - 0.5%
Bajaj Finance Ltd.		104		9,231
Samsung Card Co. Ltd.		4,160		93,014

				102,245

Consumer Staples Distribution & Retail - 0.9%
InRetail Peru Corp.(a)		128		4,301
Nahdi Medical Co.		288		13,342
President Chain Store Corp.		16,000		142,045
Wal-Mart de Mexico SAB de CV		1,600		6,678

				166,366

Diversified Telecommunication Services - 4.2%
Chunghwa Telecom Co. Ltd.		52,000		191,940
Emirates Integrated Telecommunications Co. PJSC		67,488		101,423
Itissalat Al-Maghrib		11,376		126,754
LG Uplus Corp.		10,536		82,741
Saudi Telecom Co.		11,112		125,586
Telkom Indonesia Persero Tbk. PT		695,200		171,495

				799,939

Electric Utilities - 4.4%
Centrais Eletricas Brasileiras SA (Preference), Class B		5,600		51,361
CPFL Energia SA		22,400		168,481
CTEEP-Cia de Transmissao de Energia Eletrica Paulista (Preference)		7,200		37,990
Manila Electric Co.		16,000		103,705


Investments	Shares		Value ($)
Power Grid Corp. of India Ltd.		55,424		179,280
Saudi Electricity Co.		24,496		146,522
Transmissora Alianca de Energia Eletrica SA		19,200		145,300

				832,639

Electrical Equipment - 0.9%
ABB India Ltd.		2,992		165,619

Electronic Equipment, Instruments & Components - 0.5%
WPG Holdings Ltd.		56,000		89,810

Entertainment - 0.8%
NetEase, Inc., ADR		1,328		144,407

				144,407

Food Products - 4.7%
Almarai Co. JSC		6,536		120,037
Dali Foods Group Co. Ltd.(a)		204,000		94,954
Nestle India Ltd.		152		41,680
Nestle Malaysia Bhd.		4,800		142,541
Orion Corp.		40		3,562
Tingyi Cayman Islands Holding Corp.		86,000		132,771
Uni-President China Holdings Ltd.		80,000		69,037
Uni-President Enterprises Corp.		56,000		134,180
Want Want China Holdings Ltd.		224,000		155,964

				894,726

Gas Utilities - 0.8%
Petronas Gas Bhd.		39,200		148,489

Health Care Providers & Services - 3.6%
Bangkok Dusit Medical Services PCL, NVDR		132,000		110,872
Bumrungrad Hospital PCL, NVDR		20,800		131,258
Dr Sulaiman Al Habib Medical Services Group Co.		1,440		110,929
Mitra Keluarga Karyasehat Tbk. PT(a)		697,600		134,617
Mouwasat Medical Services Co.		1,552		103,836
Sinopharm Group Co. Ltd., Class H		32,000		100,324

				691,836

Hotels, Restaurants & Leisure - 0.8%
Kangwon Land, Inc.		2,936		35,933
Meituan, Class B*(a)		4,800		90,046
Yum China Holdings, Inc.		304		18,550

				144,529

Household Durables - 0.4%
Coway Co. Ltd.		2,568		82,602

Household Products - 0.6%
Unilever Indonesia Tbk. PT		472,800		120,708

Independent Power and Renewable Electricity Producers - 0.4%
Engie Brasil Energia SA		2,400		22,219
NTPC Ltd.		24,424		64,839
Unipro PJSC*‡		726,000		—

				87,058


Investments	Shares		Value ($)
Industrial Conglomerates - 1.5%
Alpha Dhabi Holding PJSC*		20,472		111,248
Far Eastern New Century Corp.		96,000		90,726
Sime Darby Bhd.		192,000		92,828

				294,802

Insurance - 1.8%
Bupa Arabia for Cooperative Insurance Co.		2,000		92,014
DB Insurance Co. Ltd.		328		19,428
PICC Property & Casualty Co. Ltd., Class H		96,000		112,019
Samsung Fire & Marine Insurance Co. Ltd.		616		117,918

				341,379

Interactive Media & Services - 3.8%
Tencent Holdings Ltd.		16,200		736,184

IT Services - 3.4%
Infosys Ltd.		6,192		102,062
Samsung SDS Co. Ltd.		1,096		110,318
Tata Consultancy Services Ltd.		10,408		432,961

				645,341

Life Sciences Tools & Services - 0.1%
Divi’s Laboratories Ltd.		96		4,300
Samsung Biologics Co. Ltd.*(a)		32		19,231

				23,531

Marine Transportation - 0.5%
MISC Bhd.		60,800		96,951

Metals & Mining - 0.7%
China Steel Corp.		16,000		14,230
Industrias CH SAB de CV, Class B, Series B*		350		4,172
Korea Zinc Co. Ltd.		16		6,201
Polyus PJSC*‡		546		—
Vale SA		7,200		104,677

				129,280

Multi-Utilities - 1.4%
Dubai Electricity & Water Authority PJSC		225,512		164,542
Qatar Electricity & Water Co. QSC		20,024		99,845

				264,387

Oil, Gas & Consumable Fuels - 2.9%
China Shenhua Energy Co. Ltd., Class H		8,000		23,901
PetroChina Co. Ltd., Class H		48,000		35,021
Petroleo Brasileiro SA		800		5,854
Petroleo Brasileiro SA (Preference)		3,200		20,927
Petronas Dagangan Bhd.		17,600		89,620
Petronet LNG Ltd.		2,072		5,884
PTT Exploration & Production PCL, NVDR		20,000		93,196
Qatar Fuel QSC		30,704		141,711
Qatar Gas Transport Co. Ltd.		90,712		105,042
Surgutneftegas PJSC (Preference)‡		156,600		—
United Tractors Tbk. PT		20,000		36,505

				557,661


Investments	Shares		Value ($)
Personal Care Products - 2.1%
Colgate-Palmolive India Ltd.		464		11,392
Hengan International Group Co. Ltd.		29,500		121,235
Hindustan Unilever Ltd.		8,424		262,280

				394,907

Pharmaceuticals - 4.0%
Cipla Ltd.		13,448		192,117
Dr Reddy’s Laboratories Ltd.		2,792		191,470
Kalbe Farma Tbk. PT		678,400		86,150
Sun Pharmaceutical Industries Ltd.		11,712		162,817
Torrent Pharmaceuticals Ltd.		256		6,234
Yuhan Corp.		2,240		128,286

				767,074

Real Estate Management & Development - 0.3%
Aldar Properties PJSC		35,384		49,805

Semiconductors & Semiconductor Equipment - 6.4%
MediaTek, Inc.		2,000		43,912
Taiwan Semiconductor Manufacturing Co. Ltd.		66,000		1,186,578

				1,230,490

Specialty Retail - 2.5%
Abu Dhabi National Oil Co. for Distribution PJSC		128,848		136,809
Home Product Center PCL, NVDR		322,400		133,750
Jarir Marketing Co.		33,264		137,433
MR DIY Group M Bhd.(a)		210,400		68,593

				476,585

Technology Hardware, Storage & Peripherals - 6.4%
Compal Electronics, Inc.		168,000		162,780
Inventec Corp.		112,000		227,019
Lite-On Technology Corp.		11,000		52,678
Pegatron Corp.		32,000		77,794
Quanta Computer, Inc.		17,000		129,015
Samsung Electronics Co. Ltd.		10,648		583,086

				1,232,372

Textiles, Apparel & Luxury Goods - 0.6%
Page Industries Ltd.		232		106,637

Tobacco - 0.6%
KT&G Corp.		1,728		111,978

Transportation Infrastructure - 1.7%
Airports of Thailand PCL, NVDR*		56,000		116,978
Jiangsu Expressway Co. Ltd., Class H		96,000		87,768
Taiwan High Speed Rail Corp.		128,000		122,801

				327,547

Wireless Telecommunication Services - 4.4%
Advanced Info Service PCL, NVDR		24,800		163,745
America Movil SAB de CV, Series B		47,200		49,595
Etihad Etisalat Co.		8,648		107,996
Far EasTone Telecommunications Co. Ltd.		56,000		126,518


Investments	Shares		Value ($)
Intouch Holdings PCL, NVDR		67,200		151,171
Mobile Telecommunications Co. KSCP		60,856		103,243
Taiwan Mobile Co. Ltd.		44,000		132,169

				834,437

TOTAL COMMON STOCKS (COST $18,431,168)				18,749,142

Investments	Number of Rights		Value ($)
RIGHTS - 0.0%(b)
Capital Markets - 0.0%(b)
Macquarie Korea Infrastructure Fund, expiring 8/1/2023, price 12,550.00 KRW* (Cost $–)		1,176		56

Total Investments - 98.1% (Cost $18,431,168)				18,749,198
Other assets less liabilities - 1.9%				363,050

Net Assets - 100.0%				19,112,248

*	Non-income producing security.

‡	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(a)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.

(b)	Represents less than 0.05% of net assets.

Percentages shown are based on Net Assets.

Abbreviations


ADR		American Depositary Receipt
KRW		Korean Won
NVDR		Non-Voting Depositary Receipt
PJSC		Public Joint Stock Company
Preference		A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.

FlexShares^® Emerging Markets Quality Low Volatility Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® Emerging Markets Quality Low Volatility Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 99.3%

Aerospace & Defense - 1.3%
AAR Corp.*		2,625		156,975
AeroVironment, Inc.*		1,225		116,693
Axon Enterprise, Inc.*		1,575		292,840
Boeing Co. (The)*		17,226		4,114,430
BWX Technologies, Inc.(a)		4,025		277,725
Curtiss-Wright Corp.		2,262		432,856
Ducommun, Inc.*		525		26,323
General Dynamics Corp.		6,825		1,525,934
HEICO Corp.(a)		1,392		244,964
HEICO Corp., Class A		1,750		245,612
Hexcel Corp.		3,132		221,370
Howmet Aerospace, Inc.		11,136		569,495
Huntington Ingalls Industries, Inc.		1,225		281,346
Kratos Defense & Security Solutions, Inc.*		4,025		60,737
L3Harris Technologies, Inc.		5,046		956,167
Lockheed Martin Corp.		6,786		3,029,067
Mercury Systems, Inc.*(a)		1,044		39,651
Moog, Inc., Class A		2,088		220,159
Northrop Grumman Corp.		3,654		1,626,030
Parsons Corp.*(a)		3,314		163,778
Rocket Lab USA, Inc.*		23,142		170,557
RTX Corp.		37,932		3,335,361
Spirit AeroSystems Holdings, Inc., Class A(a)		4,200		133,644
Textron, Inc.		6,264		487,151
TransDigm Group, Inc.		1,225		1,102,157
Triumph Group, Inc.*		6,650		84,122
V2X, Inc.*(a)		870		44,770
Woodward, Inc.		3,150		379,197

				20,339,111

Air Freight & Logistics - 0.6%
Air Transport Services Group, Inc.*		7,134		143,821
CH Robinson Worldwide, Inc.		3,675		368,161
Expeditors International of Washington, Inc.		4,350		553,755
FedEx Corp.		7,482		2,019,766
Forward Air Corp.(a)		875		103,985
GXO Logistics, Inc.*		7,134		478,477
Hub Group, Inc., Class A*		8,004		721,401
United Parcel Service, Inc., Class B		22,098		4,135,199

				8,524,565

Automobile Components - 0.5%
Adient plc*		22,446		955,302
American Axle & Manufacturing Holdings, Inc.*		13,746		129,900
Aptiv plc*		7,175		785,591
Autoliv, Inc.		3,654		368,798
BorgWarner, Inc.(a)		8,178		380,277
Dana, Inc.		6,264		118,891
Dorman Products, Inc.*		870		73,680


Investments	Shares		Value ($)
Fox Factory Holding Corp.*(a)		1,914		214,177
Garrett Motion, Inc.*(a)		9,275		72,159
Gentex Corp.		11,310		379,790
Gentherm, Inc.*		1,050		62,759
Goodyear Tire & Rubber Co. (The)*		59,138		950,939
LCI Industries(a)		5,250		715,417
Lear Corp.		2,436		376,995
Mobileye Global, Inc., Class A*(a)		4,176		159,440
Modine Manufacturing Co.*(a)		8,750		328,650
Patrick Industries, Inc.(a)		5,568		481,910
QuantumScape Corp., Class A*(a)		51,156		680,886
Standard Motor Products, Inc.		4,524		172,681
Stoneridge, Inc.*		6,825		139,503
Visteon Corp.*(a)		1,740		268,117
XPEL, Inc.*(a)(b)		1,225		99,507

				7,915,369

Automobiles - 1.6%
Fisker, Inc., Class A*(a)		16,182		99,843
Ford Motor Co.		123,164		1,626,996
General Motors Co.		40,542		1,555,597
Harley-Davidson, Inc.(a)		29,232		1,128,648
Lucid Group, Inc.*(a)		32,364		246,290
Rivian Automotive, Inc., Class A*(a)		23,316		644,454
Tesla, Inc.*		67,686		18,101,267
Thor Industries, Inc.(a)		11,310		1,306,192
Winnebago Industries, Inc.(a)		5,568		383,078

				25,092,365

Banks - 6.0%
1st Source Corp.		2,262		106,088
Amalgamated Financial Corp.(a)		6,264		125,029
Amerant Bancorp, Inc., Class A(a)		8,700		172,434
Ameris Bancorp		15,138		660,774
Associated Banc-Corp.		37,758		715,514
Atlantic Union Bankshares Corp.(a)		16,530		528,629
Axos Financial, Inc.*(a)		11,550		542,850
Banc of California, Inc.		20,532		291,760
BancFirst Corp.(a)		1,571		156,943
Bancorp, Inc. (The)*(a)		5,394		204,433
Bank of America Corp.		212,106		6,787,392
Bank of Hawaii Corp.		174		9,941
Bank OZK(a)		25,230		1,103,308
BankUnited, Inc.(a)		12,180		363,451
Banner Corp.		9,744		463,912
Berkshire Hills Bancorp, Inc.		7,482		170,664
BOK Financial Corp.(a)		5,394		480,498
Brookline Bancorp, Inc.		12,250		130,830
Byline Bancorp, Inc.		7,656		168,049
Cadence Bank(a)		46,110		1,155,055
Cambridge Bancorp(a)		3,480		214,159
Camden National Corp.(a)		6,438		222,626
Capitol Federal Financial, Inc.(a)		20,358		134,974
Cathay General Bancorp(a)		15,486		589,087
Central Pacific Financial Corp.		12,354		225,337


Investments	Shares		Value ($)
Citigroup, Inc.		58,464		2,786,394
Citizens Financial Group, Inc.		18,792		606,230
City Holding Co.(a)		350		34,619
CNB Financial Corp.		10,092		196,390
Columbia Banking System, Inc.		51,330		1,147,226
Comerica, Inc.(a)		32,016		1,727,583
Commerce Bancshares, Inc.(a)		3,828		203,573
Community Bank System, Inc.		1,566		84,298
Community Trust Bancorp, Inc.		1,925		73,881
ConnectOne Bancorp, Inc.		2,088		42,741
CrossFirst Bankshares, Inc.*		5,916		69,040
Cullen/Frost Bankers, Inc.		2,088		226,715
Customers Bancorp, Inc.*(a)		5,425		227,742
CVB Financial Corp.(a)		36,714		692,793
Dime Community Bancshares, Inc.(a)		1,740		38,976
Eagle Bancorp, Inc.		2,436		67,477
East West Bancorp, Inc.		5,250		326,603
Eastern Bankshares, Inc.		42,804		604,392
Enterprise Financial Services Corp.		3,306		135,546
Farmers National Banc Corp.(a)		9,570		131,588
FB Financial Corp.		5,046		178,729
Fifth Third Bancorp		22,575		656,933
First Bancorp/NC(a)		3,325		109,991
First Bancorp/PR		44,915		666,988
First Bancshares, Inc. (The)(a)		2,975		93,147
First Busey Corp.		6,612		143,216
First Citizens BancShares, Inc., Class A		350		500,955
First Commonwealth Financial Corp.		23,800		343,672
First Financial Bancorp(a)		17,675		408,116
First Financial Bankshares, Inc.(a)		3,132		102,072
First Financial Corp.		1,044		39,891
First Hawaiian, Inc.(a)		33,408		691,212
First Horizon Corp.		19,488		265,621
First Interstate BancSystem, Inc., Class A(a)		24,012		689,865
First Merchants Corp.		9,744		312,977
FNB Corp.(a)		73,254		936,919
Fulton Financial Corp.(a)		37,410		534,963
Glacier Bancorp, Inc.		2,262		73,967
Great Southern Bancorp, Inc.(a)		348		19,255
Hancock Whitney Corp.(a)		18,025		793,280
Hanmi Financial Corp.		13,224		251,256
HarborOne Bancorp, Inc.		1,925		20,193
Heartland Financial USA, Inc.(a)		5,046		173,280
Heritage Commerce Corp.(a)		25,752		247,219
Heritage Financial Corp.(a)		13,920		261,139
Hilltop Holdings, Inc.(a)		4,872		150,691
Home BancShares, Inc.(a)		37,932		922,127
Hope Bancorp, Inc.(a)		38,802		421,390
Horizon Bancorp, Inc.(a)		18,444		228,521
Huntington Bancshares, Inc.(a)		47,502		581,424
Independent Bank Corp.		11,832		712,878
Independent Bank Group, Inc.		10,614		476,250
International Bancshares Corp.		12,600		625,464
JPMorgan Chase & Co.		90,306		14,264,736
Kearny Financial Corp.(a)		17,052		146,477


Investments	Shares		Value ($)
KeyCorp		18,966		233,471
Lakeland Bancorp, Inc.		11,375		171,876
Lakeland Financial Corp.		700		38,808
Live Oak Bancshares, Inc.(a)		696		26,358
Luther Burbank Corp.		13,224		136,207
M&T Bank Corp.		5,855		818,880
Midland States Bancorp, Inc.		4,550		106,607
National Bank Holdings Corp., Class A		8,178		280,996
NBT Bancorp, Inc.		348		12,946
New York Community Bancorp, Inc.		160,602		2,227,550
Nicolet Bankshares, Inc.(a)		1,531		128,068
Northfield Bancorp, Inc.(a)		4,524		55,102
Northwest Bancshares, Inc.(a)		26,622		329,048
OceanFirst Financial Corp.		14,875		277,121
OFG Bancorp		12,702		425,390
Old National Bancorp(a)		64,554		1,099,355
Old Second Bancorp, Inc.(a)		4,350		69,557
Origin Bancorp, Inc.(a)		3,654		119,120
Pacific Premier Bancorp, Inc.		19,075		487,176
PacWest Bancorp(a)		14,094		131,074
Park National Corp.(a)		350		39,032
Pathward Financial, Inc.		2,800		145,488
Peoples Bancorp, Inc.(a)		5,600		157,752
Pinnacle Financial Partners, Inc.(a)		18,966		1,439,519
PNC Financial Services Group, Inc. (The)		13,224		1,810,233
Popular, Inc.		16,704		1,211,875
Preferred Bank		4,524		298,946
Premier Financial Corp.		1,566		33,920
Prosperity Bancshares, Inc.(a)		19,600		1,241,072
Provident Financial Services, Inc.		21,228		393,567
QCR Holdings, Inc.(a)		1,925		98,618
Regions Financial Corp.(a)		31,320		637,988
Renasant Corp.		10,614		328,397
S&T Bancorp, Inc.(a)		7,482		236,282
Sandy Spring Bancorp, Inc.		7,308		178,827
ServisFirst Bancshares, Inc.(a)		4,524		269,992
Simmons First National Corp., Class A(a)		25,375		512,321
Southside Bancshares, Inc.(a)		5,046		167,578
SouthState Corp.(a)		15,660		1,216,312
Stellar Bancorp, Inc.(a)		9,396		233,585
Stock Yards Bancorp, Inc.		525		25,100
Synovus Financial Corp.(a)		35,496		1,203,314
Texas Capital Bancshares, Inc.*		3,132		199,978
Tompkins Financial Corp.		175		10,528
Towne Bank		13,300		336,224
TriCo Bancshares		525		19,625
Triumph Financial, Inc.*		2,262		160,398
Truist Financial Corp.		38,106		1,265,881
TrustCo Bank Corp. NY(a)		3,325		101,047
Trustmark Corp.		17,400		456,924
UMB Financial Corp.(a)		9,918		704,178
United Bankshares, Inc.(a)		8,352		279,291
United Community Banks, Inc.(a)		24,360		708,145
Univest Financial Corp.		5,600		109,200
US Bancorp(a)		40,194		1,594,898


Investments	Shares		Value ($)
Valley National Bancorp(a)		88,701		910,072
Veritex Holdings, Inc.		17,400		374,274
Washington Federal, Inc.(a)		16,008		496,888
Washington Trust Bancorp, Inc.		2,257		72,359
Webster Financial Corp.(a)		39,846		1,885,513
Wells Fargo & Co.		114,318		5,276,919
WesBanco, Inc.		12,075		338,221
Westamerica Bancorp		8,352		410,835
Western Alliance Bancorp(a)		25,230		1,310,699
Wintrust Financial Corp.		12,775		1,077,699
WSFS Financial Corp.		12,180		532,875
Zions Bancorp NA(a)		35,496		1,357,722

				91,237,179

Beverages - 1.1%
Boston Beer Co., Inc. (The), Class A*(a)		348		129,261
Brown-Forman Corp., Class A(a)		1,400		100,674
Brown-Forman Corp., Class B		3,828		270,257
Celsius Holdings, Inc.*(a)		1,925		278,547
Coca-Cola Co. (The)		96,570		5,980,580
Coca-Cola Consolidated, Inc.		348		220,427
Constellation Brands, Inc., Class A		4,176		1,139,213
Duckhorn Portfolio, Inc. (The)*		7,830		98,501
Keurig Dr Pepper, Inc.		23,664		804,813
MGP Ingredients, Inc.(a)		174		19,838
Molson Coors Beverage Co., Class B(a)		6,475		451,761
Monster Beverage Corp.*		19,250		1,106,683
National Beverage Corp.*(a)		1,050		55,492
PepsiCo, Inc.		34,800		6,523,608
Vita Coco Co., Inc. (The)*		4,524		119,524

				17,299,179

Biotechnology - 2.3%
AbbVie, Inc.		54,288		8,120,399
ACADIA Pharmaceuticals, Inc.*		6,960		203,510
Agios Pharmaceuticals, Inc.*(a)		4,803		127,376
Akero Therapeutics, Inc.*(a)		2,436		105,722
Alkermes plc*		5,568		163,031
Alnylam Pharmaceuticals, Inc.*		2,610		509,994
Amgen, Inc.		17,052		3,992,726
Amicus Therapeutics, Inc.*(a)		6,825		92,956
Anavex Life Sciences Corp.*(a)		10,614		87,565
Apellis Pharmaceuticals, Inc.*		3,480		89,610
Arrowhead Pharmaceuticals, Inc.*(a)		5,742		198,214
Aurinia Pharmaceuticals, Inc.*(a)		13,746		159,179
BioCryst Pharmaceuticals, Inc.*(a)		17,574		129,872
Biogen, Inc.*		3,828		1,034,287
Biohaven Ltd.*(a)		14,616		290,566
BioMarin Pharmaceutical, Inc.*		4,872		428,395
Blueprint Medicines Corp.*(a)		3,306		218,196
CareDx, Inc.*(a)		24,882		271,463
Catalyst Pharmaceuticals, Inc.*		9,365		129,518
Cerevel Therapeutics Holdings, Inc.*(a)		2,975		91,005
CRISPR Therapeutics AG*(a)		18,444		1,057,395
Cytokinetics, Inc.*(a)		2,958		98,649
Deciphera Pharmaceuticals, Inc.*		2,975		40,222


Investments	Shares		Value ($)
Denali Therapeutics, Inc.*		3,480		98,936
Dynavax Technologies Corp.*(a)		26,075		364,789
Editas Medicine, Inc., Class A*(a)		11,658		102,357
EQRx, Inc.*(a)		91,176		155,911
Exact Sciences Corp.*(a)		5,568		543,103
Exelixis, Inc.*		18,270		360,102
Geron Corp.*		15,225		49,329
Gilead Sciences, Inc.		37,932		2,888,142
Halozyme Therapeutics, Inc.*		2,958		127,076
Horizon Therapeutics plc*		4,872		488,515
ImmunoGen, Inc.*		5,568		99,222
Immunovant, Inc.*(a)		7,482		170,814
Incyte Corp.*		6,264		399,142
Inhibrx, Inc.*(a)		525		10,526
Insmed, Inc.*(a)		11,310		249,838
Intellia Therapeutics, Inc.*(a)		5,394		228,328
Ionis Pharmaceuticals, Inc.*(a)		7,000		290,010
Iovance Biotherapeutics, Inc.*		2,800		20,328
Ironwood Pharmaceuticals, Inc., Class A*(a)		20,706		229,630
Karuna Therapeutics, Inc.*		1,044		208,560
Karyopharm Therapeutics, Inc.*(a)		6,825		12,285
Krystal Biotech, Inc.*(a)		1,740		224,634
Kura Oncology, Inc.*(a)		7,656		79,929
Lyell Immunopharma, Inc.*(a)		28,884		83,475
Madrigal Pharmaceuticals, Inc.*(a)		348		71,444
MannKind Corp.*(a)		7,350		33,590
Mirati Therapeutics, Inc.*(a)		3,654		110,607
Moderna, Inc.*(a)		9,396		1,105,533
Morphic Holding, Inc.*(a)		2,958		167,807
Myriad Genetics, Inc.*(a)		2,975		66,491
Natera, Inc.*(a)		5,075		229,492
Neurocrine Biosciences, Inc.*		2,100		213,969
Novavax, Inc.*(a)		12,354		114,645
Prothena Corp. plc*(a)		1,740		119,834
PTC Therapeutics, Inc.*(a)		3,325		134,131
Recursion Pharmaceuticals, Inc., Class A*(a)		14,790		208,835
Regeneron Pharmaceuticals, Inc.*		2,784		2,065,477
Relay Therapeutics, Inc.*(a)		9,744		122,774
Replimune Group, Inc.*(a)		4,524		95,321
REVOLUTION Medicines, Inc.*		6,264		164,430
Rocket Pharmaceuticals, Inc.*		6,612		119,347
Sage Therapeutics, Inc.*		4,176		144,824
Sarepta Therapeutics, Inc.*(a)		2,784		301,758
Seagen, Inc.*		2,958		567,285
Seres Therapeutics, Inc.*(a)		2,100		10,101
SpringWorks Therapeutics, Inc.*(a)		4,176		131,043
TG Therapeutics, Inc.*(a)		7,525		155,692
Travere Therapeutics, Inc.*(a)		1,750		30,082
Twist Bioscience Corp.*		1,566		38,116
Ultragenyx Pharmaceutical, Inc.*(a)		1,566		67,526
uniQure NV*(a)		5,394		55,936
United Therapeutics Corp.*		1,566		380,100
Vaxcyte, Inc.*(a)		17,052		819,519
Veracyte, Inc.*		3,325		91,271
Vertex Pharmaceuticals, Inc.*		6,612		2,329,672
Vir Biotechnology, Inc.*(a)		19,314		271,941


Investments	Shares		Value ($)
Zymeworks, Inc.*(a)		15,486		115,526

				35,778,950

Broadline Retail - 2.3%
Amazon.com, Inc.*		224,634		30,029,073
Coupang, Inc., Class A*		32,364		587,407
Dillard’s, Inc., Class A(a)		522		179,067
eBay, Inc.		17,748		789,963
Etsy, Inc.*		2,610		265,306
Kohl’s Corp.(a)		20,358		579,185
Macy’s, Inc.		65,946		1,094,044
MercadoLibre, Inc.*		1,218		1,507,945
Nordstrom, Inc.(a)		25,578		591,108
Ollie’s Bargain Outlet Holdings, Inc.*(a)		3,150		229,572

				35,852,670

Building Products - 0.9%
A O Smith Corp.		3,325		241,495
AAON, Inc.(a)		2,450		257,887
Advanced Drainage Systems, Inc.(a)		2,262		275,941
Allegion plc(a)		1,914		223,670
American Woodmark Corp.*		4,176		320,049
Apogee Enterprises, Inc.		2,784		137,892
Armstrong World Industries, Inc.		522		40,382
AZEK Co., Inc. (The), Class A*		4,176		130,291
AZZ, Inc.		7,308		323,964
Builders FirstSource, Inc.*		4,698		678,532
Carlisle Cos., Inc.(a)		1,400		388,080
Carrier Global Corp.(a)		22,750		1,354,763
Fortune Brands Innovations, Inc.(a)		4,025		286,057
Gibraltar Industries, Inc.*		875		56,586
Griffon Corp.		9,975		416,157
Hayward Holdings, Inc.*(a)		15,834		211,542
Insteel Industries, Inc.		2,610		84,173
JELD-WEN Holding, Inc.*		12,354		220,025
Johnson Controls International plc		19,836		1,379,594
Lennox International, Inc.		1,074		394,631
Masco Corp.		7,000		424,760
Masonite International Corp.*		4,002		418,409
Masterbrand, Inc.*		25,230		311,590
Owens Corning		3,654		511,523
PGT Innovations, Inc.*		6,438		184,191
Quanex Building Products Corp.		4,375		123,112
Resideo Technologies, Inc.*(a)		29,225		547,092
Simpson Manufacturing Co., Inc.		1,575		248,850
Trane Technologies plc		5,600		1,116,864
Trex Co., Inc.*(a)		6,438		445,123
UFP Industries, Inc.		12,950		1,330,742
Zurn Elkay Water Solutions Corp.		4,550		138,502

				13,222,469

Capital Markets - 2.8%
Affiliated Managers Group, Inc.		8,526		1,182,045
Ameriprise Financial, Inc.		2,958		1,030,715
Ares Management Corp., Class A		3,500		347,270
Artisan Partners Asset Management, Inc., Class A(a)		2,088		86,631
Avantax, Inc.*(a)		4,698		121,584
B. Riley Financial, Inc.(a)		3,675		204,073


Investments	Shares		Value ($)
Bank of New York Mellon Corp. (The)		20,010		907,654
BGC Group, Inc., Class A		64,206		305,621
BlackRock, Inc.		4,524		3,342,557
Blackstone, Inc.(a)		16,704		1,750,412
Blue Owl Capital, Inc., Class A		18,900		232,848
Brightsphere Investment Group, Inc.		5,250		111,720
Carlyle Group, Inc. (The)		5,220		186,093
Charles Schwab Corp. (The)		35,670		2,357,787
CME Group, Inc.		8,526		1,696,333
Cohen & Steers, Inc.(a)		1,566		100,709
Coinbase Global, Inc., Class A*(a)		5,220		514,744
Donnelley Financial Solutions, Inc.*		1,218		57,611
Evercore, Inc., Class A(a)		1,914		258,505
FactSet Research Systems, Inc.		875		380,660
Federated Hermes, Inc., Class B		5,742		194,252
Focus Financial Partners, Inc., Class A*		4,698		245,846
Franklin Resources, Inc.(a)		10,325		301,903
Goldman Sachs Group, Inc. (The)		10,266		3,653,361
Hamilton Lane, Inc., Class A(a)		2,784		246,189
Houlihan Lokey, Inc., Class A		1,750		174,738
Interactive Brokers Group, Inc., Class A		3,654		319,104
Intercontinental Exchange, Inc.		13,746		1,578,041
Invesco Ltd.(a)		13,825		232,260
Janus Henderson Group plc(a)		30,102		883,494
Jefferies Financial Group, Inc.(a)		38,802		1,427,526
KKR & Co., Inc.(a)		16,704		991,884
LPL Financial Holdings, Inc.		2,262		518,812
MarketAxess Holdings, Inc.		875		235,568
Moelis & Co., Class A(a)		3,325		162,360
Moody’s Corp.		4,176		1,473,084
Morgan Stanley		41,586		3,807,614
Morningstar, Inc.		525		121,002
MSCI, Inc., Class A		1,925		1,055,054
Nasdaq, Inc.		8,400		424,116
Northern Trust Corp.(c)		5,046		404,286
Oppenheimer Holdings, Inc., Class A		350		13,338
Piper Sandler Cos.		1,218		178,266
PJT Partners, Inc., Class A(a)		350		27,759
Raymond James Financial, Inc.(a)		5,568		612,870
Robinhood Markets, Inc., Class A*(a)		19,662		252,853
S&P Global, Inc.		8,526		3,363,592
SEI Investments Co.		2,975		187,395
State Street Corp.		10,675		773,297
Stifel Financial Corp.(a)		22,098		1,404,107
StoneX Group, Inc.*		4,350		400,243
T. Rowe Price Group, Inc.(a)		5,568		686,312
TPG, Inc., Class A(a)		2,275		66,953
Tradeweb Markets, Inc., Class A(a)		5,742		469,638
Victory Capital Holdings, Inc., Class A		5,600		185,696
Virtu Financial, Inc., Class A		23,316		432,745
Virtus Investment Partners, Inc.(a)		1,218		250,579


Investments	Shares		Value ($)
WisdomTree, Inc.		175		1,218

				42,932,927

Chemicals - 1.7%
AdvanSix, Inc.		7,830		314,061
Air Products and Chemicals, Inc.		5,220		1,593,823
Albemarle Corp.		3,480		738,734
Ashland, Inc.		1,925		175,868
Avient Corp.		20,706		839,214
Axalta Coating Systems Ltd.*		8,925		285,600
Balchem Corp.(a)		1,925		259,374
Cabot Corp.		3,654		259,434
Celanese Corp., Class A(a)		3,500		438,865
CF Industries Holdings, Inc.		6,786		556,995
Chase Corp.		175		22,031
Chemours Co. (The)(a)		34,974		1,293,339
Corteva, Inc.		17,052		962,244
Dow, Inc.(a)		22,968		1,297,003
DuPont de Nemours, Inc.		11,658		905,011
Eastman Chemical Co.		4,025		344,460
Ecolab, Inc.		5,742		1,051,590
Ecovyst, Inc.*		1,225		15,055
Element Solutions, Inc.		13,475		282,436
FMC Corp.		3,654		351,624
Ginkgo Bioworks Holdings, Inc., Class A*(a)		79,692		200,027
Hawkins, Inc.		525		24,544
HB Fuller Co.(a)		1,575		116,597
Huntsman Corp.(a)		40,194		1,196,575
Innospec, Inc.		700		74,998
International Flavors & Fragrances, Inc.(a)		5,220		441,664
Koppers Holdings, Inc.		3,654		139,802
Kronos Worldwide, Inc.(a)		16,530		154,556
Linde plc		12,528		4,894,314
Livent Corp.*(a)		7,350		180,957
LyondellBasell Industries NV, Class A		7,875		778,522
Mativ Holdings, Inc.(a)		5,916		93,118
Minerals Technologies, Inc.		3,306		202,823
Mosaic Co. (The)		12,006		489,365
NewMarket Corp.		522		235,787
Olin Corp.(a)		5,394		311,126
Origin Materials, Inc.*(a)		44,718		200,337
Perimeter Solutions SA*(a)		19,662		109,321
PPG Industries, Inc.		5,394		776,197
PureCycle Technologies, Inc.*(a)		30,450		360,528
Quaker Chemical Corp.(a)		875		175,332
RPM International, Inc.(a)		2,800		289,268
Scotts Miracle-Gro Co. (The)		3,480		243,739
Sensient Technologies Corp.(a)		2,262		144,858
Sherwin-Williams Co. (The)		5,568		1,539,552
Stepan Co.(a)		1,566		150,054
Trinseo plc		4,350		76,647
Tronox Holdings plc(a)		22,050		293,045
Westlake Corp.(a)		522		71,775

				25,952,189

Commercial Services & Supplies - 0.7%
ABM Industries, Inc.(a)		12,528		579,796


Investments	Shares		Value ($)
ACCO Brands Corp.		29,580		180,142
Brady Corp., Class A(a)		1,050		54,159
BrightView Holdings, Inc.*		7,175		55,319
Brink’s Co. (The)(a)		10,150		740,544
Casella Waste Systems, Inc., Class A*		2,100		169,449
Cimpress plc*(a)		5,220		362,790
Cintas Corp.		2,100		1,054,284
Clean Harbors, Inc.*(a)		1,914		318,222
Copart, Inc.*		11,136		984,311
CoreCivic, Inc.*		13,920		135,024
Deluxe Corp.(a)		15,834		300,688
Ennis, Inc.(a)		4,698		101,195
Enviri Corp.*		21,750		205,103
GEO Group, Inc. (The)*(a)		13,920		103,982
Healthcare Services Group, Inc.		6,438		81,183
Heritage-Crystal Clean, Inc.*		4,002		184,372
HNI Corp.		3,500		101,815
Interface, Inc., Class A(a)		26,100		254,997
Liquidity Services, Inc.*		525		8,809
Matthews International Corp., Class A(a)		3,828		175,705
MillerKnoll, Inc.		9,744		190,690
Montrose Environmental Group, Inc.*		2,958		119,710
MSA Safety, Inc.		2,262		375,492
OPENLANE, Inc.*		3,132		49,172
Republic Services, Inc., Class A		5,250		793,328
Rollins, Inc.		6,475		264,374
SP Plus Corp.*		3,306		127,116
Steelcase, Inc., Class A		30,972		265,430
Stericycle, Inc.*(a)		5,568		236,584
Tetra Tech, Inc.(a)		1,750		296,118
UniFirst Corp.		1,050		170,415
Viad Corp.*(a)		2,275		64,178
Waste Management, Inc.		9,450		1,547,816

				10,652,312

Communications Equipment - 0.8%
ADTRAN Holdings, Inc.(a)		22,794		221,786
Arista Networks, Inc.*		6,264		971,484
Calix, Inc.*(a)		3,675		165,779
Ciena Corp.*(a)		6,264		264,341
Cisco Systems, Inc.		125,454		6,528,626
CommScope Holding Co., Inc.*		58,290		262,305
Digi International, Inc.*(a)		3,500		146,755
Extreme Networks, Inc.*		10,092		268,346
F5, Inc.*		1,400		221,536
Harmonic, Inc.*		2,625		39,165
Infinera Corp.*(a)		6,825		30,713
Juniper Networks, Inc.		10,614		295,069
Lumentum Holdings, Inc.*(a)		1,218		63,774
Motorola Solutions, Inc.		4,375		1,254,006
NetScout Systems, Inc.*		5,483		153,250
Viasat, Inc.*(a)		16,182		500,671
Viavi Solutions, Inc.*		6,786		73,764

				11,461,370

Construction & Engineering - 0.4%
AECOM		4,430		385,410


Investments	Shares		Value ($)
Ameresco, Inc., Class A*(a)		1,225		71,307
API Group Corp.*		6,786		195,165
Arcosa, Inc.		1,400		108,052
Argan, Inc.		1,750		66,570
Comfort Systems USA, Inc.		2,262		393,520
Construction Partners, Inc., Class A*		875		25,725
Dycom Industries, Inc.*		1,400		139,412
EMCOR Group, Inc.		1,740		374,170
Fluor Corp.*		5,950		184,331
Granite Construction, Inc.(a)		3,500		143,255
IES Holdings, Inc.*		1,914		109,710
MasTec, Inc.*		3,654		430,259
MDU Resources Group, Inc.(a)		43,213		955,872
MYR Group, Inc.*		1,392		198,444
Primoris Services Corp.		10,675		339,038
Quanta Services, Inc.		4,002		806,883
Sterling Infrastructure, Inc.*		6,125		367,439
Valmont Industries, Inc.		870		230,332
WillScot Mobile Mini Holdings Corp.*		6,975		334,451

				5,859,345

Construction Materials - 0.1%
Eagle Materials, Inc.		1,750		322,647
Martin Marietta Materials, Inc.		1,575		703,175
Summit Materials, Inc., Class A*(a)		5,166		186,906
Vulcan Materials Co.		3,150		694,575

				1,907,303

Consumer Finance - 0.8%
Ally Financial, Inc.		11,658		356,035
American Express Co.		17,922		3,026,667
Bread Financial Holdings, Inc.		8,004		332,726
Capital One Financial Corp.		12,623		1,477,143
Credit Acceptance Corp.*(a)		290		161,414
Discover Financial Services		8,004		844,822
Encore Capital Group, Inc.*(a)		6,438		344,433
Enova International, Inc.*		7,525		414,552
EZCORP, Inc., Class A*(a)		3,480		31,529
FirstCash Holdings, Inc.		1,400		133,392
Green Dot Corp., Class A*		14,268		278,939
LendingClub Corp.*		6,438		54,015
Navient Corp.(a)		23,800		453,152
Nelnet, Inc., Class A		1,566		154,533
NerdWallet, Inc., Class A*(a)		10,788		120,934
OneMain Holdings, Inc.		26,100		1,187,028
PROG Holdings, Inc.*		7,482		303,620
SLM Corp.(a)		58,116		940,317
SoFi Technologies, Inc.*(a)		44,370		508,037
Synchrony Financial(a)		10,266		354,588
Upstart Holdings, Inc.*(a)		4,176		286,849
World Acceptance Corp.*(a)		350		55,262

				11,819,987

Consumer Staples Distribution & Retail - 1.4%
Albertsons Cos., Inc., Class A		2,610		56,715
Andersons, Inc. (The)(a)		6,960		339,787
BJ’s Wholesale Club Holdings, Inc.*		4,281		283,873
Casey’s General Stores, Inc.(a)		1,218		307,740


Investments	Shares		Value ($)
Chefs’ Warehouse, Inc. (The)*		3,654		132,786
Costco Wholesale Corp.		11,310		6,341,178
Dollar General Corp.		5,220		881,449
Dollar Tree, Inc.*		5,046		778,749
Grocery Outlet Holding Corp.*		2,975		99,514
Ingles Markets, Inc., Class A		1,392		118,042
Kroger Co. (The)		21,576		1,049,457
Performance Food Group Co.*		3,828		228,761
PriceSmart, Inc.		350		27,205
SpartanNash Co.		8,352		187,419
Sprouts Farmers Market, Inc.*(a)		25,230		990,277
Sysco Corp.		12,600		961,506
Target Corp.		14,616		1,994,646
United Natural Foods, Inc.*(a)		13,920		289,536
US Foods Holding Corp.*		7,308		312,271
Walgreens Boots Alliance, Inc.		20,880		625,774
Walmart, Inc.		35,496		5,674,391
Weis Markets, Inc.(a)		1,712		113,574

				21,794,650

Containers & Packaging - 0.6%
Amcor plc(a)		35,322		362,404
AptarGroup, Inc.		2,100		255,066
Avery Dennison Corp.(a)		1,750		322,018
Ball Corp.(a)		9,396		551,451
Berry Global Group, Inc.(a)		25,926		1,699,968
Crown Holdings, Inc.(a)		4,350		403,506
Graphic Packaging Holding Co.(a)		64,902		1,570,628
Greif, Inc., Class A(a)		5,775		427,177
Greif, Inc., Class B		174		13,758
International Paper Co.		7,482		269,801
Myers Industries, Inc.		175		3,432
O-I Glass, Inc.*(a)		30,624		703,127
Packaging Corp. of America(a)		2,975		456,216
Pactiv Evergreen, Inc.		22,620		194,758
Sealed Air Corp.		9,222		420,708
Silgan Holdings, Inc.(a)		5,568		244,157
Sonoco Products Co.(a)		20,532		1,203,996
TriMas Corp.(a)		1,400		36,064
Westrock Co.		11,484		382,302

				9,520,537

Distributors - 0.1%
Genuine Parts Co.		4,002		623,191
LKQ Corp.		9,450		517,766
Pool Corp.(a)		1,218		468,613

				1,609,570

Diversified Consumer Services - 0.2%
Adtalem Global Education, Inc.*(a)		4,176		180,570
Bright Horizons Family Solutions, Inc.*(a)		3,480		337,664
Coursera, Inc.*		8,004		125,583
Duolingo, Inc., Class A*(a)		696		108,012
Frontdoor, Inc.*		2,436		85,065
Graham Holdings Co., Class B		875		513,406
Grand Canyon Education, Inc.*		1,218		132,214
H&R Block, Inc.(a)		9,222		309,951
Laureate Education, Inc.		9,396		120,457
OneSpaWorld Holdings Ltd.*(a)		8,925		114,642
Perdoceo Education Corp.*(a)		12,250		163,537


Investments	Shares		Value ($)
Rover Group, Inc., Class A*(a)		26,100		143,028
Service Corp. International(a)		4,550		303,258
Strategic Education, Inc.		1,750		131,425
Stride, Inc.*(a)		3,803		145,313
Udemy, Inc.*(a)		1,400		16,534

				2,930,659

Diversified REITs - 0.1%
Alexander & Baldwin, Inc., REIT		2,975		57,120
Armada Hoffler Properties, Inc., REIT(a)		12,180		151,276
Broadstone Net Lease, Inc., REIT		15,138		246,749
Empire State Realty Trust, Inc., Class A, REIT(a)		21,402		191,548
Essential Properties Realty Trust, Inc., REIT		8,225		201,924
Global Net Lease, Inc., REIT(a)		33,408		357,131
WP Carey, Inc., REIT(a)		5,568		376,007

				1,581,755

Diversified Telecommunication Services - 0.6%
Anterix, Inc.*(a)		3,306		92,799
AT&T, Inc.		215,760		3,132,835
ATN International, Inc.		696		25,293
Cogent Communications Holdings, Inc.		3,132		191,804
Consolidated Communications Holdings, Inc.*		13,300		47,614
EchoStar Corp., Class A*		7,830		152,137
Frontier Communications Parent, Inc.*		16,008		291,506
Iridium Communications, Inc.		7,000		367,850
Liberty Latin America Ltd., Class A*		11,136		93,542
Liberty Latin America Ltd., Class C*		19,314		160,692
Lumen Technologies, Inc.(a)		258,216		462,207
Verizon Communications, Inc.		127,890		4,358,491

				9,376,770

Electric Utilities - 1.3%
ALLETE, Inc.		1,740		99,928
Alliant Energy Corp.(a)		7,350		394,989
American Electric Power Co., Inc.		16,356		1,386,007
Avangrid, Inc.(a)		4,524		167,750
Constellation Energy Corp.(a)		7,656		739,952
Duke Energy Corp.		24,534		2,296,873
Edison International		10,962		788,826
Entergy Corp.		6,090		625,443
Evergy, Inc.		6,090		365,217
Eversource Energy		7,308		528,588
Exelon Corp.		27,666		1,158,099
FirstEnergy Corp.		17,150		675,539
Hawaiian Electric Industries, Inc.		6,300		241,857
IDACORP, Inc.(a)		2,800		287,896
MGE Energy, Inc.		1,050		84,252
NextEra Energy, Inc.		49,764		3,647,701
NRG Energy, Inc.(a)		8,925		339,061
OGE Energy Corp.(a)		7,908		285,874
Otter Tail Corp.(a)		3,132		253,723
PG&E Corp.*		47,154		830,382


Investments	Shares		Value ($)
Pinnacle West Capital Corp.		3,675		304,364
PNM Resources, Inc.		4,900		219,618
Portland General Electric Co.		5,742		273,721
PPL Corp.		16,182		445,490
Southern Co. (The)		33,408		2,416,735
Xcel Energy, Inc.		12,180		764,051

				19,621,936

Electrical Equipment - 0.8%
Acuity Brands, Inc.(a)		1,914		316,269
AMETEK, Inc.(a)		5,394		855,488
Array Technologies, Inc.*(a)		4,176		79,553
Atkore, Inc.*(a)		9,048		1,435,646
Blink Charging Co.*(a)		18,096		115,814
Bloom Energy Corp., Class A*(a)		2,436		43,507
ChargePoint Holdings, Inc.*(a)		1,218		10,548
Eaton Corp. plc		9,975		2,048,067
Emerson Electric Co.		15,486		1,414,646
Encore Wire Corp.(a)		4,025		687,027
EnerSys		1,050		113,736
Fluence Energy, Inc., Class A*(a)		6,825		199,563
FREYR Battery SA*(a)		26,448		222,692
FuelCell Energy, Inc.*(a)		43,326		94,884
Generac Holdings, Inc.*(a)		3,306		508,132
Hubbell, Inc., Class B		1,225		382,200
nVent Electric plc		9,570		506,062
Plug Power, Inc.*(a)		30,624		401,787
Preformed Line Products Co.(a)		174		30,191
Regal Rexnord Corp.		2,100		327,978
Rockwell Automation, Inc.		2,800		941,612
Sensata Technologies Holding plc		6,612		279,357
Shoals Technologies Group, Inc., Class A*		6,438		167,131
Stem, Inc.*(a)		36,192		255,877
SunPower Corp.*(a)		6,125		60,454
Sunrun, Inc.*(a)		44,963		853,398
Vertiv Holdings Co., Class A		11,658		303,225
Vicor Corp.*(a)		2,262		208,715

				12,863,559

Electronic Equipment, Instruments & Components - 1.3%
Advanced Energy Industries, Inc.(a)		1,050		131,439
Amphenol Corp., Class A		14,268		1,260,007
Arrow Electronics, Inc.*		12,006		1,711,335
Avnet, Inc.		20,300		984,550
Badger Meter, Inc.		1,914		315,121
Bel Fuse, Inc., Class B(a)		696		37,340
Belden, Inc.		2,958		285,861
Benchmark Electronics, Inc.		8,400		222,684
CDW Corp.		3,150		589,271
Cognex Corp.		5,394		294,620
Coherent Corp.*		28,885		1,367,973
Corning, Inc.		22,620		767,723
CTS Corp.		875		39,051
ePlus, Inc.*		6,612		372,586
Fabrinet*(a)		2,100		259,644
Flex Ltd.*		17,675		483,588
Insight Enterprises, Inc.*(a)		7,134		1,046,487
IPG Photonics Corp.*		2,088		274,468


Investments	Shares		Value ($)
Itron, Inc.*(a)		1,925		151,440
Jabil, Inc.(a)		5,220		577,697
Keysight Technologies, Inc.*		4,550		732,914
Kimball Electronics, Inc.*(a)		3,480		101,546
Knowles Corp.*(a)		2,625		47,959
Lightwave Logic, Inc.*		875		5,880
Littelfuse, Inc.(a)		1,044		318,002
Methode Electronics, Inc.		3,480		117,067
Mirion Technologies, Inc., Class A*(a)		29,058		219,388
National Instruments Corp.		5,916		349,044
nLight, Inc.*		8,352		120,269
Novanta, Inc.*		1,925		340,533
OSI Systems, Inc.*		522		62,238
PC Connection, Inc.		175		8,472
Plexus Corp.*(a)		696		68,549
Rogers Corp.*		696		117,353
Sanmina Corp.*(a)		13,572		834,135
ScanSource, Inc.*		4,025		121,112
SmartRent, Inc., Class A*(a)		34,278		136,426
TD SYNNEX Corp.		700		69,097
TE Connectivity Ltd.		8,700		1,248,363
Teledyne Technologies, Inc.*		1,225		471,049
Trimble, Inc.*		6,300		338,940
TTM Technologies, Inc.*		21,175		304,073
Vishay Intertechnology, Inc.		25,900		729,085
Vontier Corp.		33,930		1,049,455
Zebra Technologies Corp., Class A*(a)		1,218		375,095

				19,458,929

Energy Equipment & Services - 0.8%
Archrock, Inc.(a)		13,125		153,037
Baker Hughes Co., Class A		23,100		826,749
Cactus, Inc., Class A(a)		4,375		222,162
ChampionX Corp.(a)		12,180		433,608
Dril-Quip, Inc.*		175		4,531
Halliburton Co.		28,362		1,108,387
Helix Energy Solutions Group, Inc.*(a)		15,312		146,995
Helmerich & Payne, Inc.(a)		25,926		1,160,707
Liberty Energy, Inc., Class A		39,846		656,264
Nabors Industries Ltd.*(a)		870		106,598
NexTier Oilfield Solutions, Inc.*(a)		30,102		358,816
NOV, Inc.		25,056		503,124
Oceaneering International, Inc.*		8,526		191,409
Oil States International, Inc.*(a)		525		4,221
Patterson-UTI Energy, Inc.(a)		54,984		870,946
ProPetro Holding Corp.*(a)		35,148		366,945
RPC, Inc.(a)		12,528		104,233
Schlumberger NV		42,108		2,456,581
Select Water Solutions, Inc., Class A		12,702		106,824
Tidewater, Inc.*		1,392		87,849
Transocean Ltd.*(a)		146,682		1,290,802
US Silica Holdings, Inc.*		17,400		226,374
Valaris Ltd.*		1,044		80,179
Weatherford International plc*		4,176		347,026

				11,814,367


Investments	Shares		Value ($)
Entertainment - 1.1%
Activision Blizzard, Inc.*		17,226		1,597,884
AMC Entertainment Holdings, Inc., Class A*(a)		2,436		12,107
Atlanta Braves Holdings, Inc., Class C*		207		8,429
Cinemark Holdings, Inc.*(a)		10,788		180,052
Electronic Arts, Inc.		6,264		854,096
Endeavor Group Holdings, Inc., Class A*		10,440		246,384
IMAX Corp.*		1,925		35,439
Liberty Media Corp-Liberty Formula One, Class A*		1,750		112,490
Liberty Media Corp-Liberty Formula One, Class C*		5,425		393,855
Lions Gate Entertainment Corp., Class B*		10,440		76,421
Live Nation Entertainment, Inc.*(a)		4,698		412,249
Madison Square Garden Sports Corp.		522		111,055
Netflix, Inc.*		11,310		4,964,751
Playtika Holding Corp.*		8,874		105,956
ROBLOX Corp., Class A*(a)		11,136		437,088
Roku, Inc., Class A*(a)		6,612		636,537
Sphere Entertainment Co.*		6,786		288,066
Take-Two Interactive Software, Inc.*		4,350		665,289
Walt Disney Co. (The)*		45,066		4,005,917
Warner Bros Discovery, Inc.*		74,472		973,349
Warner Music Group Corp., Class A		3,306		104,304
World Wrestling Entertainment, Inc., Class A		1,225		128,625

				16,350,343

Financial Services - 3.9%
Affirm Holdings, Inc., Class A*(a)		49,068		951,429
A-Mark Precious Metals, Inc.(a)		2,800		114,212
Apollo Global Management, Inc.		14,790		1,208,491
AvidXchange Holdings, Inc.*(a)		14,964		185,703
Berkshire Hathaway, Inc., Class B*		55,680		19,597,133
Block, Inc., Class A*		12,180		980,855
Compass Diversified Holdings		3,828		86,245
Enact Holdings, Inc.		3,132		85,190
Equitable Holdings, Inc.		13,050		374,405
Essent Group Ltd.(a)		21,750		1,078,800
Euronet Worldwide, Inc.*		1,914		168,183
EVERTEC, Inc.		5,220		205,303
Federal Agricultural Mortgage Corp., Class C		1,044		167,823
Fidelity National Information Services, Inc.		17,748		1,071,624
Fiserv, Inc.*		19,488		2,459,580
FleetCor Technologies, Inc.*(a)		1,566		389,793
Flywire Corp.*(a)		5,394		184,151
Global Payments, Inc.		7,134		786,524
International Money Express, Inc.*		2,450		59,364
Jack Henry & Associates, Inc.		1,925		322,572
Jackson Financial, Inc., Class A		13,746		453,893


Investments	Shares		Value ($)
Mastercard, Inc., Class A		21,402		8,438,381
Merchants Bancorp		3,150		99,572
MGIC Investment Corp.		59,856		1,001,989
Mr Cooper Group, Inc.*		16,704		968,331
NMI Holdings, Inc., Class A*		19,250		514,168
PayPal Holdings, Inc.*		35,670		2,704,499
PennyMac Financial Services, Inc.(a)		7,830		589,051
Radian Group, Inc.(a)		37,776		1,017,308
Remitly Global, Inc.*(a)		9,048		174,445
Repay Holdings Corp., Class A*(a)		2,784		23,246
Rocket Cos., Inc., Class A*(a)		7,308		79,876
Shift4 Payments, Inc., Class A*(a)		2,088		144,051
Toast, Inc., Class A*(a)		13,920		307,214
Visa, Inc., Class A(a)		40,890		9,720,780
Voya Financial, Inc.(a)		20,706		1,537,628
Walker & Dunlop, Inc.(a)		6,786		617,390
Western Union Co. (The)		75,168		915,546
WEX, Inc.*		1,566		296,522

				60,081,270

Food Products - 1.0%
Archer-Daniels-Midland Co.		17,850		1,516,536
B&G Foods, Inc.(a)		7,830		103,826
Beyond Meat, Inc.*(a)		8,700		149,640
Bunge Ltd.		4,002		434,897
Calavo Growers, Inc.(a)		175		6,603
Cal-Maine Foods, Inc.(a)		6,960		321,482
Campbell Soup Co.(a)		6,125		280,648
Conagra Brands, Inc.(a)		15,400		505,274
Darling Ingredients, Inc.*		4,550		315,088
Flowers Foods, Inc.(a)		11,550		285,400
Freshpet, Inc.*(a)		2,262		166,347
General Mills, Inc.		16,008		1,196,438
Hershey Co. (The)		3,500		809,585
Hormel Foods Corp.(a)		4,698		192,054
Hostess Brands, Inc., Class A*		4,002		96,208
Ingredion, Inc.(a)		14,175		1,577,111
J & J Snack Foods Corp.(a)		1,225		196,392
J M Smucker Co. (The)(a)		3,132		471,836
John B Sanfilippo & Son, Inc.		1,218		132,652
Kellogg Co.		6,264		418,999
Kraft Heinz Co. (The)		23,316		843,573
Lamb Weston Holdings, Inc.		3,675		380,840
Lancaster Colony Corp.(a)		1,218		234,623
McCormick & Co., Inc. (Non-Voting)		5,568		498,225
Mondelez International, Inc., Class A		35,322		2,618,420
Pilgrim’s Pride Corp.*		6,264		155,159
Post Holdings, Inc.*(a)		3,150		268,695
Seaboard Corp.		62		223,510
Simply Good Foods Co. (The)*(a)		2,450		94,840
Tootsie Roll Industries, Inc.		2,511		87,534
TreeHouse Foods, Inc.*		1,044		53,881
Tyson Foods, Inc., Class A		6,786		378,116
Utz Brands, Inc.(a)		7,525		126,044

				15,140,476


Investments	Shares		Value ($)
Gas Utilities - 0.3%
Atmos Energy Corp.(a)		3,150		383,387
Chesapeake Utilities Corp.		525		62,076
National Fuel Gas Co.(a)		22,098		1,173,625
New Jersey Resources Corp.(a)		5,916		264,445
Northwest Natural Holding Co.		4,002		171,966
ONE Gas, Inc.(a)		3,500		276,955
Southwest Gas Holdings, Inc.(a)		2,275		150,013
Spire, Inc.(a)		3,654		232,285
UGI Corp.		50,808		1,371,308

				4,086,060

Ground Transportation - 1.1%
ArcBest Corp.(a)		4,900		569,968
Avis Budget Group, Inc.*(a)		1,044		229,983
CSX Corp.		53,363		1,778,055
Heartland Express, Inc.		5,425		88,699
Hertz Global Holdings, Inc.*(a)		35,844		603,971
JB Hunt Transport Services, Inc.(a)		2,100		428,274
Knight-Swift Transportation Holdings, Inc., Class A		4,550		276,413
Landstar System, Inc.(a)		1,750		356,283
Lyft, Inc., Class A*(a)		5,046		64,135
Marten Transport Ltd.(a)		2,625		59,482
Norfolk Southern Corp.		6,612		1,544,497
Old Dominion Freight Line, Inc.		2,450		1,027,751
RXO, Inc.*(a)		870		19,183
Ryder System, Inc.		10,150		1,036,823
Saia, Inc.*		1,225		518,347
Schneider National, Inc., Class B(a)		7,308		225,159
Uber Technologies, Inc.*		53,592		2,650,660
U-Haul Holding Co.(a)		175		10,650
U-Haul Holding Co. (BMV Mexico Stock Exchange)		2,088		119,454
Union Pacific Corp.		15,312		3,552,690
Werner Enterprises, Inc.		13,398		629,974
XPO, Inc.*(a)		7,482		518,054

				16,308,505

Health Care Equipment & Supplies - 2.2%
Abbott Laboratories		42,978		4,784,741
Align Technology, Inc.*		1,914		723,281
Alphatec Holdings, Inc.*(a)		175		3,092
AtriCure, Inc.*		3,828		211,880
Avanos Medical, Inc.*		1,050		25,694
Axonics, Inc.*		2,800		169,036
Baxter International, Inc.		10,440		472,201
Becton Dickinson & Co.		7,308		2,036,155
Boston Scientific Corp.*		37,236		1,930,687
CONMED Corp.(a)		2,088		252,752
Cooper Cos., Inc. (The)		1,225		479,294
Dentsply Sirona, Inc.		8,004		332,326
Dexcom, Inc.*(a)		9,800		1,220,688
Edwards Lifesciences Corp.*		15,660		1,285,216
Enovis Corp.*		4,002		255,749
Envista Holdings Corp.*		9,048		311,342
Establishment Labs Holdings, Inc.*(a)		1,400		100,814
GE HealthCare Technologies, Inc.		9,918		773,604
Glaukos Corp.*		2,450		188,993


Investments	Shares		Value ($)
Globus Medical, Inc., Class A*		1,740		104,870
Haemonetics Corp.*		2,800		258,272
Hologic, Inc.*		7,134		566,582
ICU Medical, Inc.*(a)		522		93,010
IDEXX Laboratories, Inc.*		2,088		1,158,276
Inari Medical, Inc.*(a)		522		29,791
Inspire Medical Systems, Inc.*		1,400		402,934
Insulet Corp.*(a)		1,575		435,881
Integer Holdings Corp.*(a)		875		80,920
Integra LifeSciences Holdings Corp.*		5,742		261,089
Intuitive Surgical, Inc.*		9,048		2,935,171
iRhythm Technologies, Inc.*(a)		1,914		201,085
Lantheus Holdings, Inc.*(a)		4,263		368,707
LeMaitre Vascular, Inc.		175		11,065
LivaNova plc*		522		30,511
Masimo Corp.*		1,740		212,802
Medtronic plc		40,194		3,527,425
Merit Medical Systems, Inc.*		1,740		129,926
Neogen Corp.*(a)		12,354		286,489
Novocure Ltd.*(a)		2,450		79,968
NuVasive, Inc.*		2,800		115,388
Omnicell, Inc.*(a)		2,262		142,845
OrthoPediatrics Corp.*(a)		2,610		108,968
Penumbra, Inc.*(a)		1,218		369,492
PROCEPT BioRobotics Corp.*(a)		1,750		60,270
Pulmonx Corp.*(a)		7,656		107,184
QuidelOrtho Corp.*		1,392		121,605
ResMed, Inc.		3,500		778,225
Shockwave Medical, Inc.*		1,218		317,411
STAAR Surgical Co.*		522		28,590
STERIS plc(a)		2,800		631,540
Stryker Corp.		8,526		2,416,354
Tandem Diabetes Care, Inc.*(a)		6,090		212,663
Teleflex, Inc.(a)		870		218,518
TransMedics Group, Inc.*(a)		1,400		130,452
Treace Medical Concepts, Inc.*(a)		2,450		55,835
Zimmer Biomet Holdings, Inc.		5,775		797,816

				33,345,475

Health Care Providers & Services - 2.7%
Acadia Healthcare Co., Inc.*		3,132		247,522
Accolade, Inc.*		10,440		156,809
AdaptHealth Corp., Class A*		23,838		327,534
Addus HomeCare Corp.*		1,044		95,599
Agiliti, Inc.*(a)		350		6,009
agilon health, Inc.*(a)		4,524		86,635
Amedisys, Inc.*		1,740		158,062
AmerisourceBergen Corp.(a)		5,075		948,517
AMN Healthcare Services, Inc.*(a)		9,450		1,012,567
Apollo Medical Holdings, Inc.*(a)		2,784		101,978
Brookdale Senior Living, Inc.*(a)		50,913		179,214
Cardinal Health, Inc.		9,048		827,621
Centene Corp.*		18,444		1,255,852
Chemed Corp.(a)		350		182,381
Cigna Group (The)		9,570		2,824,107
Community Health Systems, Inc.*(a)		25,375		111,396
Cross Country Healthcare, Inc.*(a)		7,525		194,145


Investments	Shares		Value ($)
CVS Health Corp.		38,454		2,872,129
DaVita, Inc.*		2,436		248,448
Elevance Health, Inc.		7,525		3,549,016
Encompass Health Corp.		3,654		241,274
Ensign Group, Inc. (The)(a)		1,914		185,409
Guardant Health, Inc.*(a)		6,264		244,421
HCA Healthcare, Inc.		6,090		1,661,413
HealthEquity, Inc.*(a)		3,850		261,569
Henry Schein, Inc.*(a)		4,375		344,706
Humana, Inc.		3,828		1,748,745
Laboratory Corp. of America Holdings		2,975		636,442
McKesson Corp.		4,350		1,750,440
ModivCare, Inc.*		4,872		213,101
Molina Healthcare, Inc.*		1,566		476,831
National Research Corp.(a)		2,275		97,620
NeoGenomics, Inc.*(a)		3,325		57,622
OPKO Health, Inc.*(a)		138,156		256,970
Option Care Health, Inc.*		9,450		319,221
Owens & Minor, Inc.*(a)		12,876		247,734
Patterson Cos., Inc.		19,075		627,377
Pediatrix Medical Group, Inc.*		24,360		334,463
Premier, Inc., Class A		22,794		632,534
Privia Health Group, Inc.*(a)		5,568		155,459
Progyny, Inc.*		3,654		152,591
Quest Diagnostics, Inc.		3,480		470,531
R1 RCM, Inc.*(a)		4,025		69,552
RadNet, Inc.*		1,050		34,734
Select Medical Holdings Corp.		4,176		125,322
Surgery Partners, Inc.*(a)		3,325		128,445
Tenet Healthcare Corp.*		24,186		1,807,420
UnitedHealth Group, Inc.		23,316		11,806,523
Universal Health Services, Inc., Class B		1,914		265,969
US Physical Therapy, Inc.		175		20,347

				40,760,326

Health Care REITs - 0.3%
CareTrust REIT, Inc., REIT(a)		7,350		152,807
Community Healthcare Trust, Inc., REIT(a)		3,306		116,503
Healthcare Realty Trust, Inc., Class A, REIT(a)		14,094		275,256
Healthpeak Properties, Inc., REIT		8,700		189,921
Medical Properties Trust, Inc., REIT(a)		146,334		1,476,510
National Health Investors, Inc., REIT		696		38,217
Omega Healthcare Investors, Inc., REIT(a)		8,700		277,530
Physicians Realty Trust, REIT(a)		16,878		248,782
Sabra Health Care REIT, Inc., REIT		11,484		149,177
Universal Health Realty Income Trust, REIT(a)		2,784		132,880
Ventas, Inc., REIT		7,830		379,912
Welltower, Inc., REIT		12,354		1,014,881

				4,452,376


Investments	Shares		Value ($)
Health Care Technology - 0.1%
Doximity, Inc., Class A*(a)		7,482		267,332
Evolent Health, Inc., Class A*(a)		5,916		179,787
Health Catalyst, Inc.*		11,484		161,120
HealthStream, Inc.		175		3,934
Multiplan Corp.*		64,554		138,791
NextGen Healthcare, Inc.*		525		8,731
Phreesia, Inc.*		4,698		149,021
Sharecare, Inc.*(a)		88,914		123,590
Teladoc Health, Inc.*(a)		11,658		347,059
Veeva Systems, Inc., Class A*		3,654		746,220
Veradigm, Inc.*		9,662		130,630

				2,256,215

Hotel & Resort REITs - 0.1%
Apple Hospitality REIT, Inc., REIT(a)		6,438		99,789
Chatham Lodging Trust, REIT		7,175		68,880
DiamondRock Hospitality Co., REIT(a)		18,018		153,153
Host Hotels & Resorts, Inc., REIT		16,625		305,900
Park Hotels & Resorts, Inc., REIT(a)		15,961		217,548
Pebblebrook Hotel Trust, REIT(a)		20,010		309,154
RLJ Lodging Trust, REIT		15,834		163,090
Ryman Hospitality Properties, Inc., REIT		3,325		316,839
Service Properties Trust, REIT(a)		38,628		327,952
Summit Hotel Properties, Inc., REIT		8,178		52,666
Sunstone Hotel Investors, Inc., REIT		8,750		89,163
Xenia Hotels & Resorts, Inc., REIT(a)		9,825		124,778

				2,228,912

Hotels, Restaurants & Leisure - 2.1%
Airbnb, Inc., Class A*		10,266		1,562,383
Aramark		5,950		240,202
BJ’s Restaurants, Inc.*		2,100		79,086
Bloomin’ Brands, Inc.(a)		17,675		474,927
Booking Holdings, Inc.*		934		2,774,727
Boyd Gaming Corp.		4,025		274,988
Brinker International, Inc.*		7,830		307,562
Caesars Entertainment, Inc.*		7,482		441,588
Carnival Corp.*(a)		25,926		488,446
Cheesecake Factory, Inc. (The)(a)		3,132		115,195
Chipotle Mexican Grill, Inc., Class A*		700		1,373,596
Choice Hotels International, Inc.(a)		1,050		137,287
Churchill Downs, Inc.(a)		1,750		202,738
Cracker Barrel Old Country Store, Inc.(a)		1,044		97,301
Darden Restaurants, Inc.		2,800		472,976
Dave & Buster’s Entertainment, Inc.*		3,828		175,322
Denny’s Corp.*		1,575		18,522
Dine Brands Global, Inc.(a)		3,654		220,409
Domino’s Pizza, Inc.		696		276,131
DoorDash, Inc., Class A*(a)		5,394		489,721


Investments	Shares		Value ($)
DraftKings, Inc., Class A*		15,660		497,675
Dutch Bros, Inc., Class A*(a)		2,784		86,332
Everi Holdings, Inc.*		7,875		116,865
Expedia Group, Inc.*		4,002		490,365
Hilton Grand Vacations, Inc.*		18,375		854,438
Hilton Worldwide Holdings, Inc.		6,475		1,006,798
Hyatt Hotels Corp., Class A(a)		2,958		373,743
Jack in the Box, Inc.		350		34,794
Las Vegas Sands Corp.*		7,308		437,091
Life Time Group Holdings, Inc.*(a)		7,656		138,497
Light & Wonder, Inc.*(a)		5,742		403,663
Lindblad Expeditions Holdings, Inc.*		8,700		102,834
Marriott International, Inc., Class A		6,825		1,377,353
Marriott Vacations Worldwide Corp.		2,262		290,690
McDonald’s Corp.		18,550		5,438,860
MGM Resorts International		9,570		485,869
Norwegian Cruise Line Holdings Ltd.*(a)		14,442		318,735
Papa John’s International, Inc.(a)		522		43,169
Penn Entertainment, Inc.*(a)		30,624		805,105
Planet Fitness, Inc., Class A*		4,002		270,295
Red Rock Resorts, Inc., Class A(a)		2,100		101,850
Royal Caribbean Cruises Ltd.*(a)		7,134		778,391
Sabre Corp.*(a)		58,812		241,129
SeaWorld Entertainment, Inc.*(a)		3,306		183,053
Shake Shack, Inc., Class A*		696		54,051
Six Flags Entertainment Corp.*		18,966		453,287
Starbucks Corp.		28,014		2,845,382
Sweetgreen, Inc., Class A*(a)		9,396		141,598
Texas Roadhouse, Inc., Class A(a)		4,002		446,423
Travel + Leisure Co.		16,182		659,093
Vail Resorts, Inc.		1,050		247,264
Wendy’s Co. (The)(a)		11,484		246,791
Wingstop, Inc.(a)		1,925		324,517
Wyndham Hotels & Resorts, Inc.		3,325		259,084
Wynn Resorts Ltd.		3,132		341,325
Yum! Brands, Inc.		7,656		1,054,002

				32,173,518

Household Durables - 1.2%
Beazer Homes USA, Inc.*		2,088		70,219
Cavco Industries, Inc.*(a)		1,566		462,988
Century Communities, Inc.		7,350		567,567
Cricut, Inc., Class A(a)		700		8,302
DR Horton, Inc.		9,975		1,267,024
Dream Finders Homes, Inc., Class A*(a)		870		22,185
Ethan Allen Interiors, Inc.(a)		4,375		137,681
Garmin Ltd.		4,200		444,738
GoPro, Inc., Class A*(a)		13,050		53,374
Green Brick Partners, Inc.*(a)		7,830		442,552
Helen of Troy Ltd.*(a)		5,046		713,000
Installed Building Products, Inc.		700		103,614
iRobot Corp.*(a)		1,400		56,000
KB Home		19,600		1,057,812
La-Z-Boy, Inc.(a)		8,050		252,529
Leggett & Platt, Inc.(a)		2,784		81,460


Investments	Shares		Value ($)
Lennar Corp., Class A		8,352		1,059,284
Lennar Corp., Class B(a)		525		60,328
LGI Homes, Inc.*(a)		5,075		704,156
M/I Homes, Inc.*		7,350		735,000
MDC Holdings, Inc.(a)		12,600		646,128
Meritage Homes Corp.		8,400		1,251,180
Mohawk Industries, Inc.*		12,702		1,350,731
Newell Brands, Inc.		72,036		803,922
NVR, Inc.*		104		655,870
PulteGroup, Inc.		8,178		690,141
Skyline Champion Corp.*		4,002		278,779
Sonos, Inc.*(a)		6,786		116,312
Taylor Morrison Home Corp., Class A*(a)		25,404		1,230,062
Tempur Sealy International, Inc.		10,614		473,703
Toll Brothers, Inc.		21,750		1,747,177
TopBuild Corp.*		1,218		333,647
Tri Pointe Homes, Inc.*		24,708		787,691
Vizio Holding Corp., Class A*		10,788		80,371
Whirlpool Corp.(a)		2,100		302,946

				19,048,473

Household Products - 0.9%
Central Garden & Pet Co.*(a)		1,575		63,756
Central Garden & Pet Co., Class A*		4,698		179,557
Church & Dwight Co., Inc.		6,786		649,217
Clorox Co. (The)		3,306		500,793
Colgate-Palmolive Co.		20,532		1,565,770
Energizer Holdings, Inc.		12,006		428,614
Kimberly-Clark Corp.		8,178		1,055,780
Procter & Gamble Co. (The)		60,030		9,382,689
Reynolds Consumer Products, Inc.		348		9,633
Spectrum Brands Holdings, Inc.(a)		3,132		245,580
WD-40 Co.(a)		348		79,866

				14,161,255

Independent Power and Renewable Electricity Producers - 0.1%
AES Corp. (The)		21,402		462,925
Clearway Energy, Inc., Class A		522		12,878
Clearway Energy, Inc., Class C		1,392		36,763
Ormat Technologies, Inc.(a)		1,566		127,316
Vistra Corp.		14,922		418,711

				1,058,593

Industrial Conglomerates - 0.5%
3M Co.		16,182		1,804,293
General Electric Co.		27,144		3,100,931
Honeywell International, Inc.		16,356		3,175,190

				8,080,414

Industrial REITs - 0.3%
Americold Realty Trust, Inc., REIT		5,742		186,156
EastGroup Properties, Inc., REIT		1,501		265,947
First Industrial Realty Trust, Inc., REIT		7,350		379,995
Innovative Industrial Properties, Inc., REIT		348		27,572
LXP Industrial Trust, REIT(a)		5,916		59,574
Plymouth Industrial REIT, Inc., REIT		6,438		146,593
Prologis, Inc., REIT		23,464		2,927,134


Investments	Shares		Value ($)
Rexford Industrial Realty, Inc., REIT(a)		4,725		260,300
STAG Industrial, Inc., REIT(a)		10,788		391,604
Terreno Realty Corp., REIT(a)		4,025		238,844

				4,883,719

Insurance - 2.5%
Aflac, Inc.(a)		18,618		1,346,826
Allstate Corp. (The)		7,308		823,465
Ambac Financial Group, Inc.*		6,786		95,954
American Equity Investment Life Holding Co.		16,356		877,827
American Financial Group, Inc.		2,625		319,226
American International Group, Inc.		23,800		1,434,664
AMERISAFE, Inc.		350		18,242
Aon plc, Class A		5,250		1,672,125
Arch Capital Group Ltd.*		12,876		1,000,336
Argo Group International Holdings Ltd.(a)		8,526		253,222
Arthur J Gallagher & Co.		5,046		1,083,881
Assurant, Inc.		11,832		1,591,522
Assured Guaranty Ltd.		4,002		239,240
Axis Capital Holdings Ltd.		15,750		868,140
Brighthouse Financial, Inc.*		16,356		852,638
Brown & Brown, Inc.		5,775		406,849
BRP Group, Inc., Class A*(a)		1,575		39,233
Chubb Ltd.		13,224		2,703,118
Cincinnati Financial Corp.		3,850		414,183
CNO Financial Group, Inc.		28,018		720,623
Employers Holdings, Inc.		700		27,041
Enstar Group Ltd.*(a)		2,784		712,370
Erie Indemnity Co., Class A		348		77,242
Everest Group Ltd.		1,050		378,536
Fidelity National Financial, Inc.		10,150		397,576
First American Financial Corp.		22,225		1,408,621
Genworth Financial, Inc., Class A*(a)		87,870		514,918
Globe Life, Inc.		2,450		274,817
Goosehead Insurance, Inc., Class A*(a)		2,262		151,260
Hanover Insurance Group, Inc. (The)		2,088		236,946
Hartford Financial Services Group, Inc. (The)		10,962		787,949
Horace Mann Educators Corp.		522		15,728
Kemper Corp.(a)		5,220		266,063
Kinsale Capital Group, Inc.(a)		696		259,350
Lincoln National Corp.		37,932		1,063,613
Loews Corp.		7,350		460,477
Markel Group, Inc.*		430		623,375
Marsh & McLennan Cos., Inc.		12,876		2,426,096
MBIA, Inc.*		6,125		53,533
Mercury General Corp.		8,526		274,367
MetLife, Inc.		21,750		1,369,598
National Western Life Group, Inc., Class A(a)		350		147,585
Old Republic International Corp.(a)		11,725		323,258
Oscar Health, Inc., Class A*(a)		28,014		210,665
Primerica, Inc.(a)		1,392		296,078


Investments	Shares		Value ($)
Principal Financial Group, Inc.		8,004		639,279
ProAssurance Corp.		1,575		26,460
Progressive Corp. (The)		15,138		1,907,085
Prudential Financial, Inc.		11,550		1,114,460
Reinsurance Group of America, Inc.		1,566		219,788
RenaissanceRe Holdings Ltd.		2,088		389,955
RLI Corp.		1,392		185,707
Ryan Specialty Holdings, Inc., Class A*		2,610		113,117
Safety Insurance Group, Inc.		174		12,528
Selective Insurance Group, Inc.(a)		3,654		377,056
SiriusPoint Ltd.*(a)		14,175		132,395
Stewart Information Services Corp.(a)		6,475		305,167
Travelers Cos., Inc. (The)		7,656		1,321,502
Trupanion, Inc.*(a)		522		16,104
Universal Insurance Holdings, Inc.		5,568		86,471
Unum Group		5,916		287,577
W R Berkley Corp.		4,725		291,485
White Mountains Insurance Group Ltd.(a)		174		269,181
Willis Towers Watson plc		2,800		591,724

				37,805,417

Interactive Media & Services - 3.8%
Alphabet, Inc., Class A*		150,858		20,021,874
Alphabet, Inc., Class C*		129,804		17,278,210
Bumble, Inc., Class A*		8,178		151,457
Cargurus, Inc., Class A*		4,002		90,685
Cars.com, Inc.*		6,786		154,789
IAC, Inc.*(a)		15,660		1,089,936
Match Group, Inc.*		5,394		250,875
Meta Platforms, Inc., Class A*		56,202		17,905,957
Pinterest, Inc., Class A*		10,614		307,700
QuinStreet, Inc.*		1,575		13,986
Shutterstock, Inc.(a)		1,392		71,618
Snap, Inc., Class A*(a)		25,926		294,519
Taboola.com Ltd.*(a)		40,368		150,976
TripAdvisor, Inc.*(a)		5,775		107,704
Vimeo, Inc.*		55,680		229,402
Yelp, Inc., Class A*		4,698		211,645
Ziff Davis, Inc.*		696		50,474
ZipRecruiter, Inc., Class A*(a)		7,308		135,344
ZoomInfo Technologies, Inc., Class A*(a)		7,656		195,764

				58,712,915

IT Services - 1.2%
Accenture plc, Class A		16,182		5,119,176
Akamai Technologies, Inc.*		3,500		330,750
Cloudflare, Inc., Class A*		6,300		433,251
Cognizant Technology Solutions Corp., Class A		16,530		1,091,476
DigitalOcean Holdings, Inc.*(a)		2,436		120,631
DXC Technology Co.*		48,720		1,347,108
EPAM Systems, Inc.*		1,044		247,230
Fastly, Inc., Class A*(a)		4,872		89,499
Gartner, Inc.*		2,088		738,296
GoDaddy, Inc., Class A*		4,025		310,287


Investments	Shares		Value ($)
International Business Machines Corp.		27,492		3,963,797
Kyndryl Holdings, Inc.*		49,416		675,022
MongoDB, Inc., Class A*(a)		1,575		666,855
Okta, Inc., Class A*		3,325		255,559
Perficient, Inc.*(a)		2,436		155,392
Snowflake, Inc., Class A*		7,134		1,267,783
Squarespace, Inc., Class A*(a)		1,750		57,995
Twilio, Inc., Class A*		4,524		298,720
VeriSign, Inc.*		2,450		516,827

				17,685,654

Leisure Products - 0.3%
Acushnet Holdings Corp.(a)		1,050		62,611
Brunswick Corp.(a)		16,275		1,404,695
Funko, Inc., Class A*(a)		8,004		65,313
Hasbro, Inc.		5,394		348,237
Malibu Boats, Inc., Class A*(a)		3,850		230,808
MasterCraft Boat Holdings, Inc.*		2,958		90,663
Mattel, Inc.*		16,356		348,383
Peloton Interactive, Inc., Class A*		20,010		194,297
Polaris, Inc.(a)		11,310		1,536,350
Smith & Wesson Brands, Inc.		7,875		100,249
Sturm Ruger & Co., Inc.		1,392		73,706
Topgolf Callaway Brands Corp.*(a)		8,526		170,264
Vista Outdoor, Inc.*		11,200		339,360
YETI Holdings, Inc.*(a)		1,218		51,887

				5,016,823

Life Sciences Tools & Services - 1.2%
10X Genomics, Inc., Class A*		4,872		306,839
Agilent Technologies, Inc.		6,786		826,331
Avantor, Inc.*(a)		15,660		322,126
Azenta, Inc.*(a)		5,220		245,236
Bio-Rad Laboratories, Inc., Class A*		522		211,598
Bio-Techne Corp.		3,132		261,209
Bruker Corp.		2,450		168,364
Charles River Laboratories International, Inc.*(a)		1,740		364,600
CryoPort, Inc.*(a)		1,575		25,310
Danaher Corp.		16,356		4,171,761
Illumina, Inc.*		3,480		668,682
IQVIA Holdings, Inc.*		5,046		1,129,093
Maravai LifeSciences Holdings, Inc., Class A*		11,136		125,948
Medpace Holdings, Inc.*		1,050		265,828
Mesa Laboratories, Inc.		870		111,934
Mettler-Toledo International, Inc.*		525		660,172
OmniAb, Inc.*‡(a)		562		239
Pacific Biosciences of California, Inc.*		8,700		114,927
Repligen Corp.*(a)		1,400		240,184
Revvity, Inc.		2,262		278,113
Sotera Health Co.*(a)		11,658		221,269
Syneos Health, Inc.*		24,534		1,040,487
Thermo Fisher Scientific, Inc.		9,570		5,250,676
Waters Corp.*		1,575		435,031
West Pharmaceutical Services, Inc.		2,088		768,467

				18,214,424


Investments	Shares		Value ($)
Machinery - 2.1%
3D Systems Corp.*(a)		11,484		100,026
AGCO Corp.(a)		2,450		326,095
Alamo Group, Inc.		350		67,816
Albany International Corp., Class A		2,100		202,188
Allison Transmission Holdings, Inc.		18,618		1,092,690
Astec Industries, Inc.		1,575		77,805
Barnes Group, Inc.		1,400		55,020
Caterpillar, Inc.		15,660		4,152,562
Chart Industries, Inc.*(a)		1,566		285,263
CIRCOR International, Inc.*		2,450		136,465
Columbus McKinnon Corp.		525		22,229
Crane Co.		870		81,510
Crane NXT Co.(a)		9,048		535,189
Cummins, Inc.		4,375		1,141,000
Deere & Co.		8,178		3,513,269
Desktop Metal, Inc., Class A*(a)		60,030		109,255
Donaldson Co., Inc.(a)		6,786		426,364
Douglas Dynamics, Inc.		350		10,867
Dover Corp.(a)		3,500		510,895
Energy Recovery, Inc.*(a)		174		5,304
Enerpac Tool Group Corp., Class A		4,900		134,652
EnPro Industries, Inc.		1,225		170,006
Esab Corp.		4,002		274,937
ESCO Technologies, Inc.		174		17,496
Federal Signal Corp.		1,750		106,908
Flowserve Corp.		7,000		264,320
Fortive Corp.		7,482		586,215
Franklin Electric Co., Inc.		1,218		120,363
Gates Industrial Corp. plc*		22,272		303,345
Gorman-Rupp Co. (The)		1,575		49,927
Graco, Inc.		5,276		418,545
Greenbrier Cos., Inc. (The)(a)		6,960		321,482
Helios Technologies, Inc.		2,610		164,952
Hillenbrand, Inc.		5,220		271,127
Hillman Solutions Corp.*		8,526		83,896
Hyster-Yale Materials Handling, Inc.(a)		2,262		108,033
IDEX Corp.		2,088		471,491
Illinois Tool Works, Inc.(a)		7,350		1,935,402
Ingersoll Rand, Inc.		9,222		601,920
ITT, Inc.		4,550		453,180
John Bean Technologies Corp.(a)		1,400		173,054
Kadant, Inc.		350		77,998
Kennametal, Inc.(a)		4,900		149,352
Lincoln Electric Holdings, Inc.(a)		1,914		384,159
Lindsay Corp.(a)		350		46,385
Luxfer Holdings plc		6,090		77,099
Middleby Corp. (The)*(a)		1,750		265,737
Mueller Industries, Inc.(a)		13,218		1,071,451
Mueller Water Products, Inc., Class A		5,075		81,657
Nikola Corp.*(a)		25,230		67,364
Nordson Corp.(a)		1,225		308,222
Oshkosh Corp.		14,175		1,305,092
Otis Worldwide Corp.		10,675		970,998
PACCAR, Inc.		15,660		1,348,796
Parker-Hannifin Corp.		3,150		1,291,531


Investments	Shares		Value ($)
Pentair plc		4,698		326,511
RBC Bearings, Inc.*(a)		1,044		235,996
REV Group, Inc.		6,650		85,985
Shyft Group, Inc. (The)		4,698		67,792
Snap-on, Inc.		1,575		429,093
SPX Technologies, Inc.*(a)		1,400		118,454
Standex International Corp.		175		26,000
Stanley Black & Decker, Inc.		2,784		276,368
Tennant Co.		2,088		167,541
Terex Corp.(a)		13,825		810,560
Timken Co. (The)(a)		4,002		371,626
Titan International, Inc.*		2,088		26,079
Toro Co. (The)		3,150		320,197
Trinity Industries, Inc.		2,800		73,416
Wabash National Corp.		8,352		197,775
Watts Water Technologies, Inc., Class A(a)		875		163,214
Westinghouse Air Brake Technologies Corp.		4,725		559,629
Xylem, Inc.		6,960		784,740

				32,369,880

Marine Transportation - 0.1%
Eagle Bulk Shipping, Inc.(a)		3,306		152,704
Genco Shipping & Trading Ltd.		12,180		176,610
Kirby Corp.*(a)		4,002		326,083
Matson, Inc.(a)		6,960		650,482

				1,305,879

Media - 1.0%
Altice USA, Inc., Class A*(a)		27,144		92,018
Cable One, Inc.(a)		174		125,966
Charter Communications, Inc., Class A*		3,306		1,339,558
Clear Channel Outdoor Holdings, Inc.*(a)		122,148		219,866
Comcast Corp., Class A		129,978		5,882,804
DISH Network Corp., Class A*(a)		40,542		321,498
EW Scripps Co. (The), Class A*(a)		4,698		46,322
Fox Corp., Class A		11,484		384,140
Fox Corp., Class B		1,914		60,119
Gray Television, Inc.		11,832		112,049
Integral Ad Science Holding Corp.*		6,960		145,116
Interpublic Group of Cos., Inc. (The)(a)		10,675		365,405
John Wiley & Sons, Inc., Class A		11,484		393,097
Liberty Broadband Corp., Class A*		1,392		123,651
Liberty Broadband Corp., Class C*(a)		2,262		201,612
Liberty Media Corp-Liberty SiriusXM, Class A*(a)		1,925		61,023
Liberty Media Corp-Liberty SiriusXM, Class C*		4,550		144,827
Magnite, Inc.*(a)		13,398		202,712
New York Times Co. (The), Class A		9,450		385,182
News Corp., Class A		9,100		180,362
News Corp., Class B(a)		2,975		59,827
Nexstar Media Group, Inc., Class A(a)		8,526		1,591,975


Investments	Shares		Value ($)
Omnicom Group, Inc.		6,650		562,723
Paramount Global, Class B(a)		12,006		192,456
PubMatic, Inc., Class A*(a)		6,786		135,652
Scholastic Corp.		700		30,233
Sinclair, Inc.(a)		10,962		152,481
Sirius XM Holdings, Inc.(a)		28,666		146,197
Stagwell, Inc., Class A*(a)		24,708		165,791
TechTarget, Inc.*(a)		1,050		34,104
TEGNA, Inc.		53,418		902,764
Thryv Holdings, Inc.*(a)		870		20,619
Trade Desk, Inc. (The), Class A*		10,675		974,201
WideOpenWest, Inc.*(a)		6,300		51,912

				15,808,262

Metals & Mining - 0.9%
Alcoa Corp.(a)		10,092		365,229
Alpha Metallurgical Resources, Inc.(a)		3,325		575,957
Arconic Corp.*		18,966		566,894
ATI, Inc.*(a)		7,830		373,334
Carpenter Technology Corp.		4,176		249,975
Century Aluminum Co.*(a)		9,450		87,885
Cleveland-Cliffs, Inc.*		17,850		315,053
Coeur Mining, Inc.*(a)		6,475		19,943
Commercial Metals Co.		27,144		1,553,180
Compass Minerals International, Inc.		875		33,136
Freeport-McMoRan, Inc.		45,936		2,051,042
Hecla Mining Co.(a)		14,000		80,640
Materion Corp.(a)		525		62,548
Newmont Corp.		22,446		963,382
Nucor Corp.		8,352		1,437,296
Piedmont Lithium, Inc.*(a)		3,150		172,809
Reliance Steel & Aluminum Co.		2,088		611,492
Royal Gold, Inc.(a)		2,436		292,661
Ryerson Holding Corp.		2,784		118,292
Schnitzer Steel Industries, Inc., Class A(a)		3,306		119,710
Southern Copper Corp.		1,750		153,020
Steel Dynamics, Inc.(a)		5,916		630,527
SunCoke Energy, Inc.		9,570		84,982
TimkenSteel Corp.*		8,750		203,875
United States Steel Corp.(a)		47,676		1,215,738
Warrior Met Coal, Inc.		9,275		410,419
Worthington Industries, Inc.		7,656		571,291

				13,320,310

Mortgage Real Estate Investment Trusts (REITs) - 0.6%
AGNC Investment Corp.(a)		123,366		1,257,099
Annaly Capital Management, Inc.(a)		10,266		206,244
Apollo Commercial Real Estate Finance, Inc.(a)		38,802		457,864
Arbor Realty Trust, Inc.(a)		42,630		720,873
Ares Commercial Real Estate Corp.		1,740		18,548
ARMOUR Residential REIT, Inc.(a)		64,728		330,760
Blackstone Mortgage Trust, Inc., Class A(a)		33,408		768,050


Investments	Shares		Value ($)
BrightSpire Capital, Inc., Class A(a)		12,876		94,767
Chimera Investment Corp.(a)		37,758		237,120
Claros Mortgage Trust, Inc.(a)		17,922		220,799
Ellington Financial, Inc.(a)		15,050		203,476
Franklin BSP Realty Trust, Inc.		17,922		256,285
Hannon Armstrong Sustainable Infrastructure Capital, Inc.(a)		8,004		208,984
Invesco Mortgage Capital, Inc.		1		7
KKR Real Estate Finance Trust, Inc.(a)		21,924		273,173
Ladder Capital Corp., Class A		32,016		351,856
MFA Financial, Inc.		11,136		125,391
New York Mortgage Trust, Inc.(a)		13,617		138,213
Orchid Island Capital, Inc.(a)		12,180		126,916
PennyMac Mortgage Investment Trust(a)		11,484		146,765
Ready Capital Corp.(a)		26,622		308,017
Redwood Trust, Inc.(a)		9,222		69,442
Rithm Capital Corp.		120,234		1,211,959
Starwood Property Trust, Inc.(a)		75,690		1,569,811
TPG RE Finance Trust, Inc.(a)		2,262		17,644
Two Harbors Investment Corp.		14,094		189,000

				9,509,063

Multi-Utilities - 0.5%
Ameren Corp.		6,125		524,729
Avista Corp.(a)		870		33,617
Black Hills Corp.		1,740		104,974
CenterPoint Energy, Inc.		17,748		534,037
CMS Energy Corp.		5,568		340,038
Consolidated Edison, Inc.		9,744		924,316
Dominion Energy, Inc.		24,012		1,285,843
DTE Energy Co.		5,394		616,534
NiSource, Inc.		12,450		346,608
NorthWestern Corp.(a)		4,002		225,993
Public Service Enterprise Group, Inc.		13,398		845,682
Sempra		9,222		1,374,262
Unitil Corp.		2,088		108,659
WEC Energy Group, Inc.		6,960		625,426

				7,890,718

Office REITs - 0.3%
Alexandria Real Estate Equities, Inc., REIT(a)		3,132		393,630
Boston Properties, Inc., REIT(a)		1,740		115,936
Brandywine Realty Trust, REIT(a)		62,814		317,211
Corporate Office Properties Trust, REIT(a)		2,958		76,908
Cousins Properties, Inc., REIT(a)		11,832		289,056
Easterly Government Properties, Inc., Class A, REIT(a)		9,570		141,253
Equity Commonwealth, REIT		2,262		44,313
Highwoods Properties, Inc., REIT(a)		174		4,397
Hudson Pacific Properties, Inc., REIT		7,308		42,898
JBG SMITH Properties, REIT(a)		11,310		189,216
Kilroy Realty Corp., REIT		1,392		49,694


Investments	Shares		Value ($)
Paramount Group, Inc., REIT(a)		59,682		312,734
Piedmont Office Realty Trust, Inc., Class A, REIT		43,152		321,051
SL Green Realty Corp., REIT(a)		18,444		695,523
Vornado Realty Trust, REIT(a)		42,978		966,145

				3,959,965

Oil, Gas & Consumable Fuels - 4.9%
Antero Midstream Corp.(a)		25,230		301,246
Antero Resources Corp.*(a)		64,554		1,726,820
APA Corp.		11,658		472,032
Arch Resources, Inc.		4,025		516,971
Berry Corp.(a)		29,580		230,724
California Resources Corp.(a)		14,616		779,764
Callon Petroleum Co.*(a)		10,150		381,234
Cheniere Energy, Inc.		7,875		1,274,647
Chesapeake Energy Corp.(a)		3,693		311,468
Chevron Corp.		54,810		8,970,205
Chord Energy Corp.(a)		8,700		1,364,508
Civitas Resources, Inc.(a)		12,006		898,775
Clean Energy Fuels Corp.*(a)		2,975		14,667
CNX Resources Corp.*(a)		41,412		844,805
Comstock Resources, Inc.(a)		16,800		214,200
ConocoPhillips		38,628		4,547,288
CONSOL Energy, Inc.		6,090		453,827
Coterra Energy, Inc.		25,376		698,854
Crescent Energy Co., Class A(a)		18,792		223,061
CVR Energy, Inc.(a)		8,178		300,460
Delek US Holdings, Inc.(a)		12,180		336,046
Denbury, Inc.*(a)		3,306		290,630
Devon Energy Corp.(a)		17,922		967,788
Diamondback Energy, Inc.		5,950		876,554
Dorian LPG Ltd.		7,875		234,203
DT Midstream, Inc.(a)		6,090		325,937
Earthstone Energy, Inc., Class A*(a)		5,950		95,081
EOG Resources, Inc.		17,400		2,306,022
EQT Corp.(a)		11,375		479,797
Equitrans Midstream Corp.		95,352		988,800
Exxon Mobil Corp.		126,672		13,584,305
Green Plains, Inc.*(a)		4,725		167,785
Gulfport Energy Corp.*(a)		1,914		196,089
Hess Corp.		7,482		1,135,244
HF Sinclair Corp.(a)		5,742		299,101
HighPeak Energy, Inc.(a)		6,090		92,263
International Seaways, Inc.(a)		6,264		268,663
Kinder Morgan, Inc.		57,942		1,026,153
Kosmos Energy Ltd.*(a)		91,501		649,657
Magnolia Oil & Gas Corp., Class A(a)		34,974		774,674
Marathon Oil Corp.		22,968		603,369
Marathon Petroleum Corp.		14,094		1,874,784
Matador Resources Co.(a)		24,012		1,335,788
Murphy Oil Corp.		30,276		1,310,043
New Fortress Energy, Inc.(a)		11,832		337,804
NextDecade Corp.*(a)		3,150		17,545
Northern Oil and Gas, Inc.(a)		17,226		678,188
Occidental Petroleum Corp.(a)		20,532		1,296,185
ONEOK, Inc.		13,050		874,872


Investments	Shares		Value ($)
Ovintiv, Inc.(a)		9,235		425,641
Par Pacific Holdings, Inc.*		10,440		328,651
PBF Energy, Inc., Class A(a)		24,207		1,148,380
PDC Energy, Inc.		20,880		1,584,583
Peabody Energy Corp.(a)		24,325		545,853
Permian Resources Corp., Class A(a)		47,850		559,366
Phillips 66(a)		14,268		1,591,595
Pioneer Natural Resources Co.		6,786		1,531,397
Range Resources Corp.(a)		51,330		1,613,302
SilverBow Resources, Inc.*(a)		1,044		37,386
SM Energy Co.		29,232		1,060,829
Southwestern Energy Co.*(a)		259,782		1,683,387
Talos Energy, Inc.*(a)		29,928		478,848
Targa Resources Corp.		6,612		542,118
Tellurian, Inc.*(a)		169,998		292,397
Texas Pacific Land Corp.(a)		175		263,602
Uranium Energy Corp.*(a)		3,325		11,970
VAALCO Energy, Inc.(a)		12,876		57,298
Valero Energy Corp.		11,900		1,534,029
Vertex Energy, Inc.*(a)		21,054		110,955
Vital Energy, Inc.*(a)		2,784		146,940
Vitesse Energy, Inc.(a)		2,436		61,363
W&T Offshore, Inc.*(a)		29,058		127,274
Williams Cos., Inc. (The)		32,364		1,114,940
World Kinect Corp.(a)		12,425		280,059

				75,081,089

Paper & Forest Products - 0.1%
Clearwater Paper Corp.*(a)		2,275		73,323
Louisiana-Pacific Corp.		4,872		370,905
Mercer International, Inc.(a)		9,800		87,220
Sylvamo Corp.		5,950		291,967

				823,415

Passenger Airlines - 0.3%
Alaska Air Group, Inc.*(a)		26,970		1,311,551
Allegiant Travel Co.*(a)		1,392		172,190
American Airlines Group, Inc.*(a)		26,100		437,175
Delta Air Lines, Inc.		19,075		882,410
Frontier Group Holdings, Inc.*(a)		7,217		67,118
Hawaiian Holdings, Inc.*(a)		9,918		114,950
JetBlue Airways Corp.*(a)		65,601		509,720
Joby Aviation, Inc.*(a)		11,658		104,339
SkyWest, Inc.*		12,876		566,415
Southwest Airlines Co.(a)		16,704		570,609
United Airlines Holdings, Inc.*		8,178		444,147

				5,180,624

Personal Care Products - 0.2%
BellRing Brands, Inc.*		4,900		176,155
Coty, Inc., Class A*		18,096		217,876
Edgewell Personal Care Co.(a)		4,362		171,906
elf Beauty, Inc.*		1,740		203,093
Estee Lauder Cos., Inc. (The), Class A		5,394		970,920
Herbalife Ltd.*		13,746		223,235
Inter Parfums, Inc.		525		78,519
Medifast, Inc.(a)		1,218		124,102
Nu Skin Enterprises, Inc., Class A		5,394		158,530


Investments	Shares		Value ($)
USANA Health Sciences, Inc.*		1,566		101,649

				2,425,985

Pharmaceuticals - 3.0%
Aclaris Therapeutics, Inc.*		700		6,909
Amphastar Pharmaceuticals, Inc.*(a)		1,050		63,725
ANI Pharmaceuticals, Inc.*(a)		175		9,196
Arvinas, Inc.*		5,568		137,641
Axsome Therapeutics, Inc.*(a)		1,750		137,323
Bristol-Myers Squibb Co.		64,206		3,992,971
Catalent, Inc.*		4,698		227,947
Collegium Pharmaceutical, Inc.*(a)		9,625		219,065
Corcept Therapeutics, Inc.*(a)		4,255		108,417
Elanco Animal Health, Inc.*		93,438		1,127,797
Eli Lilly & Co.		20,010		9,095,546
Evolus, Inc.*(a)		1,925		19,288
Harmony Biosciences Holdings, Inc.*(a)		700		24,759
Innoviva, Inc.*		18,444		249,916
Intra-Cellular Therapies, Inc.*		2,958		182,923
Jazz Pharmaceuticals plc*		2,784		363,089
Johnson & Johnson		65,076		10,902,182
Ligand Pharmaceuticals, Inc.*(a)		700		46,851
Merck & Co., Inc.		64,902		6,921,798
Organon & Co.		62,466		1,373,003
Perrigo Co. plc(a)		3,132		114,756
Pfizer, Inc.		173,130		6,243,068
Prestige Consumer Healthcare, Inc.*(a)		4,002		260,970
Reata Pharmaceuticals, Inc., Class A*		2,100		347,718
Revance Therapeutics, Inc.*(a)		2,975		70,299
Royalty Pharma plc, Class A		14,964		469,570
Scilex Holding Co.*		14,036		76,777
Supernus Pharmaceuticals, Inc.*		4,524		138,842
Tilray Brands, Inc.*		116,339		294,338
Viatris, Inc.		26,100		274,833
Zoetis, Inc., Class A		12,180		2,290,936

				45,792,453

Professional Services - 1.2%
Alight, Inc., Class A*(a)		65,598		641,548
ASGN, Inc.*		10,788		823,340
Automatic Data Processing, Inc.		10,614		2,624,418
Barrett Business Services, Inc.		875		79,389
Booz Allen Hamilton Holding Corp., Class A		3,150		381,402
Broadridge Financial Solutions, Inc.		2,436		409,053
CACI International, Inc., Class A*(a)		1,218		426,836
CBIZ, Inc.*		1,750		92,558
Ceridian HCM Holding, Inc.*(a)		4,872		344,986
Clarivate plc*(a)		105,444		1,002,772
Concentrix Corp.(a)		10,614		883,509
Conduent, Inc.*		45,313		156,783
CSG Systems International, Inc.		2,800		144,452
Dun & Bradstreet Holdings, Inc.		39,846		470,980
Equifax, Inc.(a)		3,306		674,688


Investments	Shares		Value ($)
ExlService Holdings, Inc.*		1,218		171,677
Exponent, Inc.		1,914		171,456
First Advantage Corp.*(a)		700		10,500
FTI Consulting, Inc.*(a)		1,218		213,345
Genpact Ltd.		3,675		132,631
Heidrick & Struggles International, Inc.		5,742		156,584
Huron Consulting Group, Inc.*		525		49,649
ICF International, Inc.		525		61,735
Insperity, Inc.		1,218		143,298
Jacobs Solutions, Inc.		3,654		458,248
KBR, Inc.(a)		5,046		310,279
Kelly Services, Inc., Class A		7,700		141,064
Kforce, Inc.(a)		350		22,204
Korn Ferry		10,092		531,647
Legalzoom.com, Inc.*(a)		11,484		175,476
Leidos Holdings, Inc.		3,675		343,723
ManpowerGroup, Inc.(a)		10,092		796,057
Maximus, Inc.		3,654		306,059
NV5 Global, Inc.*		174		19,062
Paychex, Inc.		7,875		988,076
Paycom Software, Inc.		1,225		451,731
Paylocity Holding Corp.*		1,050		238,193
Resources Connection, Inc.		5,600		89,488
Robert Half, Inc.(a)		3,500		259,525
Science Applications International Corp.(a)		3,306		401,150
SS&C Technologies Holdings, Inc.		5,425		316,006
Sterling Check Corp.*(a)		8,352		100,308
TransUnion		3,654		291,187
TriNet Group, Inc.*		1,914		201,410
TrueBlue, Inc.*		1,914		28,614
TTEC Holdings, Inc.		348		11,985
Upwork, Inc.*		16,008		166,963
Verisk Analytics, Inc., Class A		3,850		881,419
Verra Mobility Corp., Class A*		10,500		220,395

				18,017,858

Real Estate Management & Development - 0.4%
Anywhere Real Estate, Inc.*(a)		29,406		246,422
CBRE Group, Inc., Class A*		10,150		845,596
Compass, Inc., Class A*		78,300		328,077
CoStar Group, Inc.*(a)		10,266		862,036
Cushman & Wakefield plc*(a)		25,056		246,300
DigitalBridge Group, Inc.		9,048		144,949
eXp World Holdings, Inc.(a)		2,625		65,468
Forestar Group, Inc.*		8,575		252,791
Howard Hughes Corp. (The)*		2,088		176,290
Jones Lang LaSalle, Inc.*(a)		10,614		1,767,762
Kennedy-Wilson Holdings, Inc.(a)		7,482		123,453
Newmark Group, Inc., Class A(a)		44,022		304,632
Opendoor Technologies, Inc.*(a)		135,546		692,640
Redfin Corp.*		5,046		75,589
Seritage Growth Properties, Class A, REIT*(a)		13,650		128,174
St Joe Co. (The)(a)		525		33,327
Zillow Group, Inc., Class A*		525		27,941
Zillow Group, Inc., Class C*(a)		6,438		348,682

				6,670,129


Investments	Shares		Value ($)
Residential REITs - 0.3%
American Homes 4 Rent, Class A, REIT(a)		6,300		236,124
Apartment Income REIT Corp., Class A, REIT		9,222		318,528
AvalonBay Communities, Inc., REIT		3,306		623,677
Camden Property Trust, REIT		3,132		341,670
Centerspace, REIT(a)		2,262		140,538
Elme Communities, REIT		10,788		175,305
Equity LifeStyle Properties, Inc., REIT(a)		4,550		323,869
Equity Residential, REIT		7,482		493,363
Essex Property Trust, Inc., REIT		1,566		381,399
Independence Realty Trust, Inc., REIT		6,438		109,704
Invitation Homes, Inc., REIT		13,300		472,150
Mid-America Apartment Communities, Inc., REIT		2,800		419,048
NexPoint Residential Trust, Inc., REIT		2,784		115,703
Sun Communities, Inc., REIT(a)		3,828		498,788
UDR, Inc., REIT		9,744		398,335

				5,048,201

Retail REITs - 0.4%
Acadia Realty Trust, REIT(a)		9,918		155,812
Agree Realty Corp., REIT(a)		2,958		191,619
Alexander’s, Inc., REIT(a)		522		100,939
Brixmor Property Group, Inc., REIT(a)		10,675		242,750
CBL & Associates Properties, Inc., REIT(a)		3,828		83,336
Federal Realty Investment Trust, REIT(a)		1,750		177,660
Getty Realty Corp., REIT		175		5,656
Kimco Realty Corp., REIT		18,550		375,823
Kite Realty Group Trust, REIT(a)		47,154		1,078,884
Macerich Co. (The), REIT(a)		38,802		494,725
Necessity Retail REIT, Inc. (The), Class A, REIT(a)		24,675		175,192
NNN REIT, Inc., REIT(a)		2,975		126,973
Phillips Edison & Co., Inc., REIT(a)		3,306		116,735
Realty Income Corp., REIT		17,052		1,039,660
Regency Centers Corp., REIT		2,800		183,484
Retail Opportunity Investments Corp., REIT(a)		13,746		202,479
RPT Realty, REIT		8,750		95,112
Saul Centers, Inc., REIT		3,480		134,154
Simon Property Group, Inc., REIT		7,656		953,938
SITE Centers Corp., REIT		5,075		71,304
Spirit Realty Capital, Inc., REIT		6,090		245,610
Tanger Factory Outlet Centers, Inc., REIT(a)		8,925		208,934
Urban Edge Properties, REIT		4,725		80,372
Urstadt Biddle Properties, Inc., Class A, REIT(a)		5,075		115,101


Investments	Shares		Value ($)
Whitestone REIT, REIT(a)		3,132		32,322

				6,688,574

Semiconductors & Semiconductor Equipment - 5.8%
ACM Research, Inc., Class A*		10,788		141,323
Advanced Micro Devices, Inc.*		40,763		4,663,287
Allegro MicroSystems, Inc.*(a)		1,740		89,801
Alpha & Omega Semiconductor Ltd.*(a)		4,524		148,749
Ambarella, Inc.*(a)		870		72,575
Amkor Technology, Inc.		19,250		559,983
Analog Devices, Inc.		13,300		2,653,749
Applied Materials, Inc.		22,098		3,349,836
Axcelis Technologies, Inc.*		1,050		210,504
Broadcom, Inc.		13,050		11,727,383
Cirrus Logic, Inc.*(a)		2,088		168,710
Cohu, Inc.*		1,225		53,471
Credo Technology Group Holding Ltd.*(a)		5,916		100,395
Diodes, Inc.*		9,450		892,930
Enphase Energy, Inc.*		2,958		449,113
Entegris, Inc.		4,002		439,059
First Solar, Inc.*		2,262		469,139
FormFactor, Inc.*		2,275		84,539
Ichor Holdings Ltd.*(a)		4,176		161,695
Impinj, Inc.*(a)		1,400		93,268
indie Semiconductor, Inc., Class A*(a)		9,396		89,074
Intel Corp.		102,312		3,659,700
KLA Corp.		3,675		1,888,766
Kulicke & Soffa Industries, Inc.(a)		4,350		260,478
Lam Research Corp.		4,350		3,125,432
Lattice Semiconductor Corp.*(a)		4,524		411,413
MACOM Technology Solutions Holdings, Inc.*		1,400		97,888
Magnachip Semiconductor Corp.*		5,075		46,944
Marvell Technology, Inc.(a)		21,175		1,379,128
MaxLinear, Inc., Class A*		348		8,585
Microchip Technology, Inc.		13,050		1,225,917
Micron Technology, Inc.		29,058		2,074,451
MKS Instruments, Inc.(a)		3,654		398,907
Monolithic Power Systems, Inc.		1,218		681,459
Navitas Semiconductor Corp., Class A*(a)		13,920		147,274
NVIDIA Corp.		62,640		29,271,046
NXP Semiconductors NV		7,830		1,745,933
ON Semiconductor Corp.*		12,006		1,293,647
Onto Innovation, Inc.*		3,150		391,608
PDF Solutions, Inc.*		350		16,096
Photronics, Inc.*		15,225		402,701
Power Integrations, Inc.(a)		2,610		253,535
Qorvo, Inc.*		3,480		382,870
QUALCOMM, Inc.		33,930		4,484,528
Rambus, Inc.*(a)		3,500		219,135
Semtech Corp.*(a)		4,872		142,262
Silicon Laboratories, Inc.*(a)		1,914		285,454
Skyworks Solutions, Inc.		5,742		656,713
SMART Global Holdings, Inc.*(a)		13,572		361,015
SolarEdge Technologies, Inc.*		1,400		338,044


Investments	Shares		Value ($)
Synaptics, Inc.*(a)		7,656		691,413
Teradyne, Inc.(a)		3,654		412,683
Texas Instruments, Inc.		22,446		4,040,280
Ultra Clean Holdings, Inc.*		4,872		185,623
Universal Display Corp.(a)		2,625		382,935
Veeco Instruments, Inc.*(a)		1,400		39,424
Wolfspeed, Inc.*(a)		5,742		378,398

				88,400,268

Software - 7.8%
ACI Worldwide, Inc.*		5,075		117,689
Adeia, Inc.(a)		21,228		255,161
Adobe, Inc.*		11,484		6,272,216
Agilysys, Inc.*		350		25,770
Alarm.com Holdings, Inc.*(a)		870		48,033
Alkami Technology, Inc.*(a)		7,308		123,359
Altair Engineering, Inc., Class A*(a)		3,480		260,791
Alteryx, Inc., Class A*		522		21,642
Amplitude, Inc., Class A*		10,962		126,940
ANSYS, Inc.*		2,436		833,356
Appfolio, Inc., Class A*(a)		1,392		251,381
Appian Corp., Class A*(a)		696		35,858
AppLovin Corp., Class A*(a)		6,960		218,544
Asana, Inc., Class A*(a)		3,306		80,270
Aspen Technology, Inc.*(a)		875		156,187
Atlassian Corp., Class A*(a)		4,176		759,781
Aurora Innovation, Inc., Class A*(a)		65,598		215,161
Autodesk, Inc.*		5,220		1,106,588
Bentley Systems, Inc., Class B(a)		6,786		365,630
BILL Holdings, Inc.*(a)		2,100		263,214
Black Knight, Inc.*		3,186		224,040
Blackbaud, Inc.*		2,800		211,260
BlackLine, Inc.*		696		40,424
Box, Inc., Class A*(a)		5,075		158,594
Braze, Inc., Class A*(a)		4,350		197,751
C3.ai, Inc., Class A*(a)		4,524		190,008
Cadence Design Systems, Inc.*		6,825		1,597,118
CCC Intelligent Solutions Holdings, Inc.*(a)		12,702		139,976
Cerence, Inc.*(a)		4,524		125,812
CommVault Systems, Inc.*		2,800		218,204
Confluent, Inc., Class A*(a)		6,960		240,398
Crowdstrike Holdings, Inc., Class A*(a)		5,046		815,736
Datadog, Inc., Class A*		6,090		710,825
Digital Turbine, Inc.*(a)		8,700		94,308
DocuSign, Inc., Class A*(a)		3,306		177,929
Dolby Laboratories, Inc., Class A		2,784		246,690
DoubleVerify Holdings, Inc.*(a)		5,916		249,064
Dropbox, Inc., Class A*(a)		10,614		286,047
Dynatrace, Inc.*		6,612		361,610
Ebix, Inc.(a)		6,090		188,546
Elastic NV*		5,046		335,307
Enfusion, Inc., Class A*(a)		700		7,595
EngageSmart, Inc.*		4,872		92,373
Envestnet, Inc.*(a)		1,566		97,061
Everbridge, Inc.*		3,480		107,323


Investments	Shares		Value ($)
EverCommerce, Inc.*(a)		8,700		101,616
Fair Isaac Corp.*		700		586,579
Five9, Inc.*		4,350		381,712
Fortinet, Inc.*		16,625		1,292,095
Freshworks, Inc., Class A*(a)		12,702		237,019
Gen Digital, Inc.		17,400		338,430
Gitlab, Inc., Class A*		4,002		198,619
Guidewire Software, Inc.*(a)		5,046		428,002
HashiCorp, Inc., Class A*(a)		5,916		175,173
HubSpot, Inc.*		1,392		808,126
Informatica, Inc., Class A*(a)		6,438		122,580
Intapp, Inc.*		700		28,742
InterDigital, Inc.(a)		696		64,512
Intuit, Inc.		7,308		3,739,504
Jamf Holding Corp.*(a)		4,698		102,041
LiveRamp Holdings, Inc.*		3,325		94,895
Manhattan Associates, Inc.*(a)		2,088		398,015
Marathon Digital Holdings, Inc.*(a)		7,656		132,985
Matterport, Inc.*(a)		36,888		125,050
MeridianLink, Inc.*(a)		5,046		112,728
Microsoft Corp.		188,094		63,184,536
MicroStrategy, Inc., Class A*(a)		350		153,258
Mitek Systems, Inc.*(a)		875		8,934
Model N, Inc.*(a)		700		23,324
nCino, Inc.*(a)		696		22,516
NCR Corp.*(a)		27,318		734,308
New Relic, Inc.*		2,610		219,188
Nutanix, Inc., Class A*(a)		8,526		257,485
Olo, Inc., Class A*		12,702		99,838
ON24, Inc.(a)		12,354		109,333
OneSpan, Inc.*(a)		1,400		19,236
Oracle Corp.		38,802		4,548,758
Palantir Technologies, Inc., Class A*(a)		38,628		766,380
Palo Alto Networks, Inc.*		7,830		1,957,187
Pegasystems, Inc.		696		36,714
PowerSchool Holdings, Inc., Class A*		2,100		50,757
Procore Technologies, Inc.*(a)		3,132		237,562
Progress Software Corp.(a)		696		41,802
PTC, Inc.*		2,275		331,718
Q2 Holdings, Inc.*		4,350		154,295
Qualys, Inc.*(a)		1,400		194,320
Rapid7, Inc.*(a)		2,958		135,802
RingCentral, Inc., Class A*		18,966		784,434
Riot Platforms, Inc.*(a)		8,004		148,234
Roper Technologies, Inc.		2,610		1,286,860
Salesforce, Inc.*		24,360		5,481,244
Samsara, Inc., Class A*		8,178		228,493
SentinelOne, Inc., Class A*		13,746		229,146
ServiceNow, Inc.*		5,046		2,941,818
Smartsheet, Inc., Class A*		3,828		169,963
SolarWinds Corp.*(a)		12,876		135,713
Splunk, Inc.*(a)		3,828		414,687
Sprinklr, Inc., Class A*(a)		9,570		134,363
Sprout Social, Inc., Class A*(a)		174		9,942
SPS Commerce, Inc.*(a)		1,218		219,715
Synopsys, Inc.*		3,828		1,729,490
Tenable Holdings, Inc.*		2,784		135,469


Investments	Shares		Value ($)
Teradata Corp.*(a)		2,958		168,162
Tyler Technologies, Inc.*		1,218		483,095
UiPath, Inc., Class A*(a)		15,834		286,279
Unity Software, Inc.*(a)		4,002		183,452
Varonis Systems, Inc., Class B*		4,698		134,833
Verint Systems, Inc.*		1,925		71,937
VMware, Inc., Class A*		5,916		932,539
Workday, Inc., Class A*		5,568		1,320,340
Workiva, Inc., Class A*(a)		2,958		311,448
Yext, Inc.*		11,832		115,007
Zoom Video Communications, Inc., Class A*(a)		4,524		331,835
Zscaler, Inc.*		1,750		280,665

				120,076,407

Specialized REITs - 0.8%
American Tower Corp., REIT		11,310		2,152,406
Crown Castle, Inc., REIT		10,092		1,092,863
CubeSmart, REIT(a)		6,825		295,932
Digital Realty Trust, Inc., REIT(a)		6,438		802,304
EPR Properties, REIT(a)		5,250		234,360
Equinix, Inc., REIT		2,275		1,842,568
Extra Space Storage, Inc., REIT		5,829		813,554
Four Corners Property Trust, Inc., REIT(a)		1,575		41,422
Gaming and Leisure Properties, Inc., REIT		6,825		323,914
Gladstone Land Corp., REIT(a)		7,308		122,336
Iron Mountain, Inc., REIT(a)		7,000		429,800
Lamar Advertising Co., Class A, REIT(a)		2,800		276,360
National Storage Affiliates Trust, REIT(a)		6,786		229,299
PotlatchDeltic Corp., REIT		4,002		214,627
Public Storage, REIT		3,850		1,084,737
Rayonier, Inc., REIT		8,400		278,208
SBA Communications Corp., Class A, REIT		3,132		685,751
Uniti Group, Inc., REIT		30,798		171,853
VICI Properties, Inc., Class A, REIT		28,014		881,881
Weyerhaeuser Co., REIT		14,964		509,674

				12,483,849

Specialty Retail - 2.7%
Aaron’s Co., Inc. (The)		8,178		129,376
Abercrombie & Fitch Co., Class A*(a)		4,872		192,980
Academy Sports & Outdoors, Inc.(a)		17,850		1,067,252
Advance Auto Parts, Inc.		348		25,888
American Eagle Outfitters, Inc.(a)		45,762		642,956
America’s Car-Mart, Inc.*(a)		348		41,454
Arko Corp.(a)		2,625		21,893
Asbury Automotive Group, Inc.*(a)		4,550		1,026,480
AutoNation, Inc.*		6,960		1,120,421
AutoZone, Inc.*		467		1,158,963
Bath & Body Works, Inc.		7,525		278,877
Best Buy Co., Inc.		7,000		581,350
Boot Barn Holdings, Inc.*(a)		2,610		245,079


Investments	Shares		Value ($)
Buckle, Inc. (The)(a)		6,650		243,124
Burlington Stores, Inc.*		1,575		279,752
Caleres, Inc.(a)		9,048		244,658
Camping World Holdings, Inc., Class A(a)		10,614		339,966
CarMax, Inc.*(a)		4,176		344,979
Carvana Co., Class A*(a)		24,012		1,103,351
Chewy, Inc., Class A*(a)		5,250		177,975
Chico’s FAS, Inc.*(a)		24,534		149,657
Designer Brands, Inc., Class A(a)		22,968		228,532
Dick’s Sporting Goods, Inc.(a)		2,610		368,010
Five Below, Inc.*		1,050		218,757
Floor & Decor Holdings, Inc., Class A*(a)		3,480		399,678
Foot Locker, Inc.(a)		18,444		495,590
Franchise Group, Inc.(a)		7,134		212,308
GameStop Corp., Class A*(a)		11,832		262,670
Gap, Inc. (The)(a)		36,888		379,946
Group 1 Automotive, Inc.(a)		3,480		899,684
Guess?, Inc.(a)		6,825		143,257
Hibbett, Inc.(a)		174		8,074
Home Depot, Inc. (The)		25,404		8,480,871
Leslie’s, Inc.*(a)		17,400		110,838
Lithia Motors, Inc., Class A(a)		6,090		1,891,128
Lowe’s Cos., Inc.		18,966		4,443,165
MarineMax, Inc.*(a)		5,775		232,906
Monro, Inc.		525		19,241
Murphy USA, Inc.		870		267,116
National Vision Holdings, Inc.*(a)		3,150		68,135
ODP Corp. (The)*		9,918		494,710
O’Reilly Automotive, Inc.*		1,566		1,449,787
Overstock.com, Inc.*(a)		12,180		444,205
Penske Automotive Group, Inc.(a)		1,218		196,610
Petco Health & Wellness Co., Inc., Class A*(a)		5,916		48,275
RH*(a)		1,044		405,249
Ross Stores, Inc.		8,225		942,914
Sally Beauty Holdings, Inc.*(a)		15,486		185,367
Shoe Carnival, Inc.(a)		7,656		203,726
Signet Jewelers Ltd.(a)		8,925		718,373
Sleep Number Corp.*(a)		5,742		158,996
Sonic Automotive, Inc., Class A(a)		4,872		233,320
TJX Cos., Inc. (The)		28,710		2,484,276
Tractor Supply Co.(a)		2,800		627,172
Ulta Beauty, Inc.*		1,225		544,880
Upbound Group, Inc.(a)		12,600		436,338
Urban Outfitters, Inc.*(a)		10,614		386,031
Valvoline, Inc.(a)		8,225		312,303
Victoria’s Secret & Co.*(a)		11,832		242,438
Warby Parker, Inc., Class A*(a)		10,092		150,774
Wayfair, Inc., Class A*(a)		18,792		1,463,333
Williams-Sonoma, Inc.(a)		2,275		315,406

				40,990,820

Technology Hardware, Storage & Peripherals - 5.3%
Apple, Inc.		373,926		73,457,763
Dell Technologies, Inc., Class C		6,438		340,699
Hewlett Packard Enterprise Co.		41,813		726,710
HP, Inc.		29,754		976,824


Investments	Shares		Value ($)
IonQ, Inc.*(a)		17,052		328,251
NetApp, Inc.		6,300		491,463
Pure Storage, Inc., Class A*		11,310		418,357
Seagate Technology Holdings plc(a)		6,264		397,764
Super Micro Computer, Inc.*(a)		10,500		3,467,835
Western Digital Corp.*		9,918		422,110
Xerox Holdings Corp.		18,618		297,515

				81,325,291

Textiles, Apparel & Luxury Goods - 0.8%
Capri Holdings Ltd.*		25,404		937,662
Carter’s, Inc.(a)		9,396		704,794
Columbia Sportswear Co.(a)		1,925		151,324
Crocs, Inc.*(a)		13,300		1,441,055
Deckers Outdoor Corp.*		875		475,729
Figs, Inc., Class A*(a)		10,440		76,838
G-III Apparel Group Ltd.*(a)		12,006		248,644
Kontoor Brands, Inc.(a)		8,700		368,532
Lululemon Athletica, Inc.*		2,800		1,059,884
NIKE, Inc., Class B		30,276		3,342,168
Oxford Industries, Inc.		1,050		113,243
PVH Corp.		14,000		1,254,960
Ralph Lauren Corp., Class A		2,610		342,771
Skechers USA, Inc., Class A*		6,125		340,428
Steven Madden Ltd.(a)		3,654		121,971
Tapestry, Inc.		9,048		390,421
Under Armour, Inc., Class A*		28,362		228,598
Under Armour, Inc., Class C*		27,144		201,408
VF Corp.		4,698		93,067
Wolverine World Wide, Inc.(a)		10,614		134,479

				12,027,976

Tobacco - 0.5%
Altria Group, Inc.		53,244		2,418,342
Philip Morris International, Inc.		47,154		4,702,197
Universal Corp.(a)		6,612		334,369
Vector Group Ltd.(a)		27,666		362,978

				7,817,886

Trading Companies & Distributors - 1.0%
Air Lease Corp., Class A(a)		21,054		891,426
Applied Industrial Technologies, Inc.		2,450		355,225
Beacon Roofing Supply, Inc.*(a)		9,918		849,675
BlueLinx Holdings, Inc.*(a)		1,925		181,412
Boise Cascade Co.		8,400		869,316
Core & Main, Inc., Class A*(a)		19,836		627,016
DXP Enterprises, Inc.*		2,088		79,302
Fastenal Co.		13,300		779,513
Ferguson plc		4,524		731,169
FTAI Aviation Ltd.		1,044		33,627
GATX Corp.(a)		2,262		283,564
GMS, Inc.*		10,440		769,324
H&E Equipment Services, Inc.		6,960		338,117
Herc Holdings, Inc.		5,075		679,187
McGrath RentCorp		1,914		184,471
MRC Global, Inc.*		17,748		200,375
MSC Industrial Direct Co., Inc., Class A(a)		3,150		317,898
NOW, Inc.*		11,487		130,837


Investments	Shares		Value ($)
Rush Enterprises, Inc., Class A		8,004		517,699
Rush Enterprises, Inc., Class B(a)		522		35,867
SiteOne Landscape Supply, Inc.*(a)		2,275		386,750
Titan Machinery, Inc.*		3,306		105,528
Triton International Ltd.		13,572		1,144,255
United Rentals, Inc.		1,914		889,398
Univar Solutions, Inc.*		35,863		1,296,089
Veritiv Corp.(a)		2,610		365,739
Watsco, Inc.(a)		700		264,733
WESCO International, Inc.		9,975		1,751,311
WW Grainger, Inc.		1,050		775,414

				15,834,237

Water Utilities - 0.1%
American States Water Co.		2,450		216,605
American Water Works Co., Inc.		4,375		645,006
California Water Service Group		3,500		185,570
Essential Utilities, Inc.		4,524		191,320
Middlesex Water Co.(a)		525		42,220
SJW Group(a)		525		36,992
York Water Co. (The)		2,088		86,297

				1,404,010

Wireless Telecommunication Services - 0.2%
Gogo, Inc.*(a)		8,225		123,951
Shenandoah Telecommunications Co.(a)		2,100		39,207
Telephone and Data Systems, Inc.(a)		32,538		260,955
T-Mobile US, Inc.*(a)		17,226		2,373,226

				2,797,339

TOTAL COMMON STOCKS (COST $870,416,051)				1,521,321,673


Investments	Number of Warrants		Value ($)
WARRANTS - 0.0%(d)
Oil, Gas & Consumable Fuels - 0.0%(d)
Occidental Petroleum Corp., expiring 8/3/2027, price 22.00 USD* (Cost $21,117)		4,266		175,674


Investments	Number of Rights		Value ($)
RIGHTS - 0.0%(d)
Biotechnology - 0.0%(d)
Achillion Pharmaceuticals, Inc., CVR*‡		44,344		62,081

Financial Services - 0.0%
Resolute Forest Products, Inc., CVR*‡		6,734		—


Investments	Number of Rights		Value ($)
Health Care Equipment & Supplies - 0.0%
ABIOMED, Inc., CVR*‡		1,110		—

TOTAL RIGHTS (Cost $1,132)				62,081


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 12.2%(e)

CERTIFICATES OF DEPOSIT - 2.5%
Bank of America NA (US Federal Funds Effective Rate (continuous series) + 0.40%), 5.73%, 10/19/2023(f)		5,000,000		5,000,155
Bank of Nova Scotia, Houston (SOFR + 0.45%), 5.53%, 10/6/2023(f)		5,000,000		5,002,251
MUFG Bank Ltd., New York Branch (SOFR + 0.29%), 5.60%, 8/23/2023(f)		4,000,000		4,000,000
Natixis SA, New York 5.58%, 10/10/2023		5,000,000		5,000,720
Nordea Bank Abp, New York Branch (SOFR + 0.47%), 5.77%, 4/26/2024(f)		4,000,000		3,999,992
Oversea-Chinese Banking Corp. Ltd., New York (SOFR + 0.37%), 5.68%, 11/16/2023(f)		3,000,000		3,000,483
Royal Bank of Canada, New York (SOFR + 0.53%), 5.83%, 5/23/2024(f)		3,000,000		3,001,707
The Sumitomo Bank Ltd., New York (SOFR + 0.45%), 5.58%, 10/11/2023(f)		5,000,000		5,002,345
Toronto-Dominion Bank, New York (US Federal Funds Effective Rate (continuous series) + 0.61%), 5.94%, 7/26/2024(f)		4,000,000		3,999,948

TOTAL CERTIFICATES OF DEPOSIT (Cost $38,003,447)				38,007,601

COMMERCIAL PAPER - 0.4%(f)
Bank of Montreal, Montreal (SOFR + 0.35%), 5.65%, 11/9/2023 (Cost $6,000,000)		6,000,000		6,000,816

INVESTMENT COMPANIES - 3.4%
BlackRock Liquidity FedFund, Institutional Shares 5.33%, 8/1/2023		3,000,000		3,000,000


Investments	Principal Amount ($)		Value ($)
TD Prime Services LLC, 5.40%, dated 7/31/2023, due 8/1/2023, repurchase price $30,004,500, collateralized by various Common Stocks; total market value $33,125,579		30,000,000		30,000,000

TOTAL REPURCHASE AGREEMENTS (Cost $88,659,787)				88,659,787

TIME DEPOSITS - 0.1%
Australia & New Zealand Banking Group Ltd/New York 5.34%, 8/7/2023 (Cost $1,300,000)		1,300,000		1,300,000

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $185,963,234)				185,968,204

Total Investments - 111.5% (Cost $1,056,401,534)				1,707,527,632
Liabilities in excess of other assets - (11.5%)				(175,981,969	)

Net Assets - 100.0%				1,531,545,663

*	Non-income producing security.

‡	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(a)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $248,456,774, collateralized in the form of cash with a value of $185,975,541 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $57,709,629 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 7.63%, and maturity dates ranging from August 10, 2023 – February 15, 2053 and $9,589,667 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 5.75%, and maturity dates ranging from September 7, 2023 – October 22, 2071; a total value of $253,274,837.

(b)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.

(c)	Investment in affiliated company. Northern Trust Investments, Inc., the Investment Adviser of the Fund, is a subsidiary of Northern Trust Corporation.

(d)	Represents less than 0.05% of net assets.

(e)	The security was purchased with cash collateral held from securities on loan at July 31, 2023. The total value of securities purchased was $185,968,204.

(f)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of July 31, 2023.

Percentages shown are based on Net Assets.

Investment in a company which was affiliated for the period ended July 31, 2023, was as follows:

FlexShares^® Morningstar US Market Factor Tilt Index Fund had the following open futures contracts as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 98.0%

Aerospace & Defense - 0.9%
Airbus SE		9,389		1,386,940
Babcock International Group plc*		30,791		148,327
BAE Systems plc		49,241		590,097
Bombardier, Inc., Class B*(a)		1,886		94,569
CAE, Inc.*		4,836		110,700
Chemring Group plc		15,334		55,933
Dassault Aviation SA		369		71,889
Elbit Systems Ltd.		412		87,828
Hensoldt AG		1,886		64,295
INVISIO AB		2,552		53,190
Kongsberg Gruppen ASA		1,540		66,888
Leonardo SpA		8,938		121,359
LISI(a)		880		23,043
Melrose Industries plc		23,297		158,868
Montana Aerospace AG*(b)		1,496		23,643
MTU Aero Engines AG		738		172,745
QinetiQ Group plc		14,473		60,036
Rheinmetall AG		779		221,077
Rolls-Royce Holdings plc*		137,309		326,572
Saab AB, Class B		1,596		84,270
Safran SA		5,412		900,779
Senior plc		16,810		36,033
Singapore Technologies Engineering Ltd.		17,900		50,284
Thales SA		1,599		239,677

				5,149,042

Air Freight & Logistics - 0.7%
bpost SA(a)		25,461		123,012
Cargojet, Inc.		943		69,443
Cia de Distribucion Integral Logista Holdings SA		2,419		67,530
DHL Group		21,156		1,089,770
DSV A/S		2,870		576,182
Freightways Group Ltd.(a)		12,546		66,836
Hamakyorex Co. Ltd.		4,100		113,264
ID Logistics Group*		81		23,309
InPost SA*		3,608		43,241
International Distributions Services plc*(a)		14,455		49,621
Kerry Logistics Network Ltd.		18,500		22,773
Konoike Transport Co. Ltd.		12,300		154,183
Mainfreight Ltd.(a)		1,312		55,401
Mitsui-Soko Holdings Co. Ltd.		8,200		209,213
Nippon Express Holdings, Inc.		1,600		93,863
PostNL NV(a)		25,262		51,486
Sankyu, Inc.		1,333		46,206
SBS Holdings, Inc.		8,200		194,496
Senko Group Holdings Co. Ltd.(a)		49,200		356,326
SG Holdings Co. Ltd.		8,400		122,648
Trancom Co. Ltd.		900		44,658


Investments	Shares		Value ($)
Yamato Holdings Co. Ltd.		6,200		116,163

				3,689,624

Automobile Components - 1.4%
Aisan Industry Co. Ltd.		12,300		101,721
Aisin Corp.		4,300		139,671
ARB Corp. Ltd.(a)		4,797		100,756
Brembo SpA		1,435		20,362
Bridgestone Corp.		14,400		597,263
CIE Automotive SA		2,091		65,659
Cie Generale des Etablissements Michelin SCA		15,006		492,541
Cie Plastic Omnium SA		22,919		447,773
Continental AG		2,337		187,117
Denso Corp.		8,200		570,272
Dometic Group AB(c)		5,962		44,473
Dowlais Group plc*		79,745		126,151
Eagle Industry Co. Ltd.		8,200		101,807
Exedy Corp.		12,300		215,215
FCC Co. Ltd.		12,300		161,195
Forvia*		2,542		63,957
Gestamp Automocion SA(b)		52,972		257,563
G-Tekt Corp.		12,300		159,983
GUD Holdings Ltd.		6,543		43,958
Hella GmbH & Co. KGaA		328		26,074
Johnson Electric Holdings Ltd.(a)		102,500		141,158
JTEKT Corp.		6,700		63,119
Koito Manufacturing Co. Ltd.		5,000		91,867
KYB Corp.(a)		8,200		290,301
Linamar Corp.		1,066		61,972
Magna International, Inc.		5,781		372,487
Musashi Seimitsu Industry Co. Ltd.(a)		4,100		51,048
NHK Spring Co. Ltd.		2,900		23,207
Nifco, Inc.(a)		2,400		71,453
Niterra Co. Ltd.		2,700		57,048
NOK Corp.		4,100		61,696
Nokian Renkaat OYJ		8,364		77,979
Pacific Industrial Co. Ltd.		24,600		236,512
Pirelli & C SpA(b)		3,854		20,609
PWR Holdings Ltd.		3,772		23,308
Schaeffler AG (Preference)		58,220		372,305
Seiren Co. Ltd.(a)		4,100		70,786
Shoei Co. Ltd.(a)		1,600		29,077
Stanley Electric Co. Ltd.		4,100		75,706
Sumitomo Electric Industries Ltd.		20,500		262,599
Tokai Rika Co. Ltd.(a)		18,800		297,190
Topre Corp.(a)		20,500		235,906
Toyo Tire Corp.		4,500		60,874
Toyoda Gosei Co. Ltd.		2,000		42,624
Toyota Boshoku Corp.		2,700		49,200
TS Tech Co. Ltd.(a)		4,700		60,702
Valeo		4,746		107,532
Vitesco Technologies Group AG*		7,626		653,726
Yokohama Rubber Co. Ltd. (The)		4,100		91,852

				7,977,354


Investments	Shares		Value ($)
Automobiles - 2.3%
Aston Martin Lagonda Global Holdings plc*(b)		25,420		129,322
Bayerische Motoren Werke AG		7,052		861,957
Bayerische Motoren Werke AG (Preference)		1,258		141,752
Ferrari NV		1,968		632,285
Honda Motor Co. Ltd.		36,900		1,172,084
Isuzu Motors Ltd.		16,400		212,618
Mazda Motor Corp.		13,000		128,600
Mercedes-Benz Group AG		17,015		1,362,718
Mitsubishi Motors Corp.(a)		13,500		54,312
Nissan Motor Co. Ltd.		45,100		197,757
Piaggio & C SpA		50,922		200,771
PIERER Mobility AG		440		38,475
Porsche Automobil Holding SE (Preference)		2,665		158,022
Renault SA		4,264		187,604
Stellantis NV		46,699		959,942
Subaru Corp.		12,700		240,136
Suzuki Motor Corp.		8,200		328,797
Toyota Motor Corp.		274,700		4,613,135
Trigano SA		2,911		427,829
Volkswagen AG (Preference)		3,731		495,937
Volvo Car AB, Class B*(a)		10,332		51,132
Yamaha Motor Co. Ltd.		8,200		240,090

				12,835,275

Banks - 10.8%
77 Bank Ltd. (The)(a)		28,700		611,047
ABN AMRO Bank NV, CVA(b)		9,052		154,295
AIB Group plc		18,788		88,618
Aktia Bank OYJ(a)		20,746		215,011
Alior Bank SA*		5,945		86,379
AMCO - Asset Management Co. SpA*‡(a)		239		—
ANZ Group Holdings Ltd.		45,551		790,384
Aozora Bank Ltd.(a)		2,900		59,631
Awa Bank Ltd. (The)(a)		12,300		186,041
Banca Popolare di Sondrio SpA		162,524		787,365
Banco Bilbao Vizcaya Argentaria SA		129,642		1,030,574
Banco BPM SpA		32,208		161,504
Banco Comercial Portugues SA, Class R*		189,546		51,891
Banco de Sabadell SA		125,993		155,444
Banco Santander SA		365,802		1,485,611
Bank Hapoalim BM		27,101		241,743
Bank Leumi Le-Israel BM		33,538		268,861
Bank Millennium SA*		25,740		42,206
Bank of Cyprus Holdings plc		136,120		429,090
Bank of East Asia Ltd. (The)		24,600		37,726
Bank of Georgia Group plc		13,776		576,945
Bank of Ireland Group plc		22,099		233,809
Bank of Kyoto Ltd. (The)(a)		1,600		94,381
Bank of Montreal		15,088		1,404,660
Bank of Nova Scotia (The)		25,297		1,276,141
Bank of Queensland Ltd.(a)		13,492		54,913
Bank Polska Kasa Opieki SA		4,004		118,578
Bankinter SA(a)		13,940		90,342


Investments	Shares		Value ($)
Banque Cantonale de Geneve		697		175,285
Banque Cantonale Vaudoise (Registered)(a)		410		46,257
Barclays plc		300,571		599,276
BAWAG Group AG(b)		2,105		102,814
Bendigo & Adelaide Bank Ltd.(a)		16,482		103,845
Berner Kantonalbank AG (Registered)		328		88,920
BNP Paribas SA		24,559		1,625,193
BPER Banca		28,167		97,732
CaixaBank SA		84,255		340,833
Canadian Imperial Bank of Commerce		20,500		904,570
Canadian Western Bank		35,629		713,257
Chiba Bank Ltd. (The)		17,400		122,307
Chugin Financial Group, Inc.		69,700		468,248
Close Brothers Group plc(a)		55,022		650,597
Collector Bank AB*		1,353		4,391
Commerzbank AG		22,591		270,871
Commonwealth Bank of Australia		25,994		1,851,622
Concordia Financial Group Ltd.		32,321		147,751
Credit Agricole SA		31,816		395,899
Credito Emiliano SpA		28,085		240,909
Dah Sing Banking Group Ltd.		149,440		111,907
Dah Sing Financial Holdings Ltd.		49,200		121,380
Daishi Hokuetsu Financial Group, Inc.(a)		16,400		409,769
Danske Bank A/S		14,555		346,363
DBS Group Holdings Ltd.		28,756		741,965
DNB Bank ASA		21,812		450,837
EQB, Inc.(a)		9,512		562,301
Erste Group Bank AG		7,380		279,744
FIBI Holdings Ltd.		533		23,830
FinecoBank Banca Fineco SpA		9,184		142,926
First International Bank of Israel Ltd. (The)		1,144		48,556
Fukuoka Financial Group, Inc.		2,800		67,399
Graubuendner Kantonalbank		7		13,405
Gunma Bank Ltd. (The)		16,400		69,453
Hachijuni Bank Ltd. (The)(a)		15,500		79,846
Hang Seng Bank Ltd.		12,300		187,212
Heartland Group Holdings Ltd.(a)		233,618		261,706
Hirogin Holdings, Inc.		9,200		56,891
Hokuhoku Financial Group, Inc.		45,100		403,449
HSBC Holdings plc		439,069		3,651,131
Hyakugo Bank Ltd. (The)(a)		90,200		301,555
ING Bank Slaski SA*		1,281		64,072
ING Groep NV		78,146		1,144,203
Intesa Sanpaolo SpA		348,705		1,010,758
Israel Discount Bank Ltd., Class A		29,866		158,882
Iyogin Holdings, Inc.		8,200		57,916
Japan Post Bank Co. Ltd.		28,700		238,965
Judo Capital Holdings Ltd.*		31,857		29,302
Juroku Financial Group, Inc.		12,300		304,297
Jyske Bank A/S (Registered)*		1,292		98,057
KBC Ancora		803		37,663
KBC Group NV		7,462		562,742
Keiyo Bank Ltd. (The)(a)		45,100		189,186
Kiyo Bank Ltd. (The)(a)		22,700		243,648
Kyushu Financial Group, Inc.		16,400		79,761
Laurentian Bank of Canada		13,735		414,580


Investments	Shares		Value ($)
Liechtensteinische Landesbank AG		1,025		71,538
Lloyds Banking Group plc		1,447,833		837,074
Luzerner Kantonalbank AG (Registered)(a)		697		60,305
Mebuki Financial Group, Inc.		28,010		74,402
Mediobanca Banca di Credito Finanziario SpA		13,776		184,087
Mitsubishi UFJ Financial Group, Inc.		262,400		2,116,486
Mizrahi Tefahot Bank Ltd.		3,690		133,755
Mizuho Financial Group, Inc.		53,300		901,838
Musashino Bank Ltd. (The)(a)		12,300		217,033
Nanto Bank Ltd. (The)		12,300		225,258
National Australia Bank Ltd.		49,938		956,353
National Bank of Canada(a)		5,740		450,391
NatWest Group plc		109,634		344,611
Nishi-Nippon Financial Holdings, Inc.		53,300		567,213
Nordea Bank Abp		65,190		738,789
North Pacific Bank Ltd.		106,600		232,587
Oberbank AG		451		59,670
Ogaki Kyoritsu Bank Ltd. (The)(a)		12,300		169,333
Oversea-Chinese Banking Corp. Ltd.		90,270		904,196
Powszechna Kasa Oszczednosci Bank Polski SA		16,716		170,148
Raiffeisen Bank International AG*		1,107		17,966
Resona Holdings, Inc.		49,200		268,162
Ringkjoebing Landbobank A/S		492		70,168
Royal Bank of Canada		21,880		2,173,122
San-In Godo Bank Ltd. (The)		57,400		371,678
Santander Bank Polska SA*		836		83,169
SBI Shinsei Bank Ltd.		2,600		52,318
Senshu Ikeda Holdings, Inc.(a)		106,600		195,823
Seven Bank Ltd.		28,700		62,377
Shiga Bank Ltd. (The)(a)		17,400		372,910
Shizuoka Financial Group, Inc.		13,100		109,397
Skandinaviska Enskilda Banken AB, Class A		37,597		456,388
Skandinaviska Enskilda Banken AB, Class C		684		8,723
Societe Generale SA		16,359		445,775
Spar Nord Bank A/S		28,823		459,681
SpareBank 1 Nord Norge		33,907		323,435
Sparebank 1 Oestlandet		1,329		16,736
SpareBank 1 SMN		3,103		43,617
SpareBank 1 Sorost-Norge		26,814		132,526
SpareBank 1 SR-Bank ASA		4,796		62,057
Sparebanken Vest		39,278		414,658
St Galler Kantonalbank AG (Registered)		41		23,578
Standard Chartered plc		54,694		525,961
Sumitomo Mitsui Financial Group, Inc.		30,000		1,413,429
Sumitomo Mitsui Trust Holdings, Inc.		8,200		318,985
Suruga Bank Ltd.		70,500		296,727
Svenska Handelsbanken AB, Class A		33,210		292,039
Svenska Handelsbanken AB, Class B(a)		908		9,920
Swedbank AB, Class A		17,466		320,729
Sydbank A/S		20,664		994,176
TBC Bank Group plc		15,334		491,264
Tokyo Kiraboshi Financial Group, Inc.		12,300		325,074


Investments	Shares		Value ($)
Toronto-Dominion Bank (The)		39,688		2,622,046
Unicaja Banco SA(a)(b)		557,149		651,142
UniCredit SpA		41,943		1,063,618
United Overseas Bank Ltd.		32,826		744,135
Valiant Holding AG (Registered)		5,781		638,888
Virgin Money UK plc		30,176		68,489
Walliser Kantonalbank (Registered)		485		62,664
Westpac Banking Corp.(a)		53,341		802,985
Yamaguchi Financial Group, Inc.		4,100		31,887
Zuger Kantonalbank AG		10		89,289

				59,992,202

Beverages - 1.0%
Anheuser-Busch InBev SA/NV		14,555		835,278
Asahi Group Holdings Ltd.		6,900		271,717
Britvic plc		3,520		39,131
Budweiser Brewing Co. APAC Ltd.(b)		22,600		54,771
C&C Group plc(a)		4,879		8,663
Carlsberg A/S, Class B		1,599		240,466
Coca-Cola Europacific Partners plc(a)		3,250		206,017
Coca-Cola HBC AG		4,000		117,960
Davide Campari-Milano NV		10,094		136,109
Diageo plc		36,244		1,584,368
Fevertree Drinks plc		5,658		97,696
Heineken Holding NV		1,461		120,087
Heineken NV		3,813		374,747
Ito En Ltd.		800		22,889
Kirin Holdings Co. Ltd.		12,300		182,015
Pernod Ricard SA		3,198		707,307
Primo Water Corp.		8,815		125,168
Remy Cointreau SA*		398		68,521
Royal Unibrew A/S		836		72,552
Sapporo Holdings Ltd.(a)		1,900		50,148
Suntory Beverage & Food Ltd.		1,800		64,117
Takara Holdings, Inc.		4,100		36,114
Treasury Wine Estates Ltd.		8,668		65,710

				5,481,551

Biotechnology - 0.6%
Argenx SE*		861		433,828
Bavarian Nordic A/S*(a)		3,823		82,237
BioGaia AB, Class B		5,670		56,336
BoneSupport Holding AB*(b)		2,665		37,410
Clinuvel Pharmaceuticals Ltd.		1,368		16,915
CSL Ltd.		7,503		1,357,609
Galapagos NV*(a)		3,116		130,826
Genmab A/S*		1,025		422,629
Genus plc		3,731		118,092
Grifols SA*		6,478		95,350
Idorsia Ltd.*(a)		7,462		59,396
Imugene Ltd.*(a)		411,693		27,742
Nykode Therapeutics ASA*(a)		11,562		33,327
PeptiDream, Inc.*		2,500		31,804
Pharma Mar SA		824		31,089
PureTech Health plc*		12,751		36,668
Swedish Orphan Biovitrum AB*		3,116		61,089
Takara Bio, Inc.		400		4,916
Telix Pharmaceuticals Ltd.*		4,018		30,568
Valneva SE*(a)		3,485		26,220
Vitrolife AB(a)		880		13,082


Investments	Shares		Value ($)
Zealand Pharma A/S*		2,583		90,032

				3,197,165

Broadline Retail - 0.7%
Allegro.eu SA*(b)		6,278		55,510
ASKUL Corp.		1,000		13,957
B&M European Value Retail SA		16,926		120,475
Belluna Co. Ltd.(a)		15,600		78,395
Boozt AB*(b)		2,508		29,931
Canadian Tire Corp. Ltd., Class A(a)		1,164		160,161
Dollarama, Inc.		4,141		273,267
Europris ASA(b)		12,997		79,011
Harvey Norman Holdings Ltd.(a)		17,952		45,726
Isetan Mitsukoshi Holdings Ltd.		5,000		54,230
Izumi Co. Ltd.		1,300		32,756
J Front Retailing Co. Ltd.		4,100		39,909
Mercari, Inc.*		1,900		48,088
Next plc		2,214		200,772
Pan Pacific International Holdings Corp.		8,200		162,119
Prosus NV*		17,999		1,429,421
Rakuten Group, Inc.		36,900		144,167
Ryohin Keikaku Co. Ltd.		6,000		77,893
Seria Co. Ltd.		1,000		16,793
Takashimaya Co. Ltd.		4,300		62,527
THG plc, Class B*(a)		50,904		67,526
Tokmanni Group Corp.(a)		15,416		238,637
Warehouse Group Ltd. (The)(a)		30,712		34,405
Wesfarmers Ltd.		16,646		556,919

				4,022,595

Building Products - 1.1%
AGC, Inc.		5,000		180,743
Arbonia AG(a)		3,837		44,706
Assa Abloy AB, Class B		14,842		357,366
Belimo Holding AG (Registered)		123		66,576
Bunka Shutter Co. Ltd.(a)		22,200		172,187
Carel Industries SpA(b)		840		24,126
Central Glass Co. Ltd.		12,500		271,414
Cie de Saint-Gobain		11,644		789,286
Daikin Industries Ltd.		4,400		888,485
dormakaba Holding AG		126		61,703
Fletcher Building Ltd.		3,362		11,675
Forbo Holding AG (Registered)(a)		41		59,406
Geberit AG (Registered)		492		280,040
Genuit Group plc		3,854		15,521
Inwido AB		16,441		181,504
James Halstead plc(a)		18,023		48,234
Kingspan Group plc		2,461		198,076
Lindab International AB		4,346		67,501
Lixil Corp.		6,000		76,753
Munters Group AB(b)		4,428		56,301
Nibe Industrier AB, Class B(a)		23,739		214,041
Nichias Corp.		21,300		437,454
Nichiha Corp.(a)		12,300		282,654
Nitto Boseki Co. Ltd.(a)		1,900		37,096
Reliance Worldwide Corp. Ltd.		13,860		39,413
ROCKWOOL A/S, Class A		88		23,643
ROCKWOOL A/S, Class B		174		46,967
Sanwa Holdings Corp.(a)		5,400		73,429


Investments	Shares		Value ($)
Schweiter Technologies AG		56		43,348
Sekisui Jushi Corp.(a)		12,300		193,226
Systemair AB		4,018		28,565
Takara Standard Co. Ltd.(a)		20,500		268,659
Takasago Thermal Engineering Co. Ltd.(a)		4,100		74,018
TOTO Ltd.		3,000		92,293
Uponor OYJ		3,526		111,963
Volution Group plc		11,378		58,792

				5,877,164

Capital Markets - 3.0%
3i Group plc		20,992		533,975
abrdn plc		16,031		47,832
AJ Bell plc		7,298		30,780
Allfunds Group plc		4,048		26,444
Alpha Group International plc		1,804		52,225
Altshuler Shaham Penn Ltd.(a)		22,509		42,798
Amundi SA(b)		1,312		80,717
Anima Holding SpA(a)(b)		83,927		324,423
Ashmore Group plc		22,554		59,895
ASX Ltd.		3,649		152,721
Avanza Bank Holding AB(a)		2,704		61,324
Azimut Holding SpA(a)		2,501		59,231
Banca Generali SpA		1,397		52,492
Brederode SA		285		31,391
Bridgepoint Group plc(a)(b)		33,702		81,912
Brookfield Asset Management Ltd., Class A		5,535		187,044
Brookfield Corp., Class A(a)		31,448		1,099,737
Bure Equity AB		968		20,618
CI Financial Corp.		59,737		757,009
Cie Financiere Tradition SA		615		84,426
Daiwa Securities Group, Inc.		28,700		155,559
Deutsche Bank AG (Registered)		45,797		508,974
Deutsche Boerse AG		2,952		567,299
EFG International AG		5,658		70,754
EQT AB		4,756		113,791
Euronext NV(b)		1,394		106,434
Fairfax India Holdings Corp.*(a)(b)		4,510		64,268
flatexDEGIRO AG*		4,400		43,506
Flow Traders Ltd.		11,767		256,750
Gimv NV(a)		6,786		314,240
GMO Financial Holdings, Inc.(a)		8,200		42,074
Hargreaves Lansdown plc		5,061		55,441
Hong Kong Exchanges & Clearing Ltd.		18,158		758,572
HUB24 Ltd.		4,532		85,936
iFAST Corp. Ltd.		16,400		69,908
IG Group Holdings plc		8,448		76,957
IGM Financial, Inc.		2,200		68,678
Impax Asset Management Group plc		2,132		15,060
Insignia Financial Ltd.(a)		234,438		470,769
IntegraFin Holdings plc(b)		15,498		48,854
Intermediate Capital Group plc		6,765		122,294
Investec plc		16,636		104,798
IP Group plc		321,768		247,574
JAFCO Group Co. Ltd.		5,000		65,368
Japan Exchange Group, Inc.		8,200		142,871


Investments	Shares		Value ($)
JTC plc(b)		7,558		70,016
Julius Baer Group Ltd.		4,674		332,143
Jupiter Fund Management plc		190,527		280,197
Kingkey Financial International Holdings Ltd.*(a)		410,000		97,260
Leonteq AG(a)		3,116		147,380
London Stock Exchange Group plc		5,822		633,878
Macquarie Group Ltd.		5,576		657,580
Magellan Financial Group Ltd.(a)		7,995		50,265
Man Group plc		32,340		99,365
Matsui Securities Co. Ltd.(a)		8,200		46,344
Monex Group, Inc.(a)		12,300		47,874
Ninety One plc		15,252		33,832
Nomura Holdings, Inc.		57,400		236,945
Nordnet AB publ		2,420		35,975
Okasan Securities Group, Inc.		82,000		326,661
Onex Corp.		1,394		85,774
Partners Group Holding AG		328		370,057
Perpetual Ltd.		5,289		87,888
Pinnacle Investment Management Group Ltd.(a)		10,281		72,742
Quilter plc(b)		499,503		501,937
Rathbones Group plc		3,608		83,560
Ratos AB, Class B(a)		74,743		248,681
Rothschild & Co.		779		33,196
SBI Holdings, Inc.		4,800		101,335
Schroders plc		12,054		71,234
Singapore Exchange Ltd.		12,300		89,948
Sprott, Inc.(a)		1,056		35,260
St James’s Place plc		8,118		98,183
Swissquote Group Holding SA (Registered)		205		46,683
Tamburi Investment Partners SpA		6,642		64,590
Tel Aviv Stock Exchange Ltd.*		4,141		22,154
Tikehau Capital SCA(a)		1,672		42,676
TMX Group Ltd.		4,180		93,048
Tokai Tokyo Financial Holdings, Inc.(a)		28,700		88,476
TP ICAP Group plc		279,087		570,949
UBS Group AG (Registered)		78,638		1,748,570
UOB-Kay Hian Holdings Ltd.		5,767		5,950
Van Lanschot Kempen NV, CVA		14,186		466,095
Vontobel Holding AG (Registered)		339		22,917
VZ Holding AG		285		26,631
WealthNavi, Inc.*(a)		2,400		23,209
XTB SA(b)		14,104		138,194
Yangzijiang Financial Holding Ltd.		926,600		230,289

				16,929,664

Chemicals - 3.0%
ADEKA Corp.		2,300		46,581
Aica Kogyo Co. Ltd.		1,500		35,642
Air Liquide SA		8,077		1,454,769
Air Water, Inc.		4,100		57,714
Akzo Nobel NV		2,870		246,057
Arkema SA		1,599		172,701
Asahi Kasei Corp.		24,600		167,671
ASAHI YUKIZAI Corp.		4,100		127,115
BASF SE		19,188		1,031,765


Investments	Shares		Value ($)
Borregaard ASA		1,692		27,697
C Uyemura & Co. Ltd.		600		39,696
Chr Hansen Holding A/S		1,584		119,984
Ciech SA		9,020		108,612
Clariant AG (Registered)		5,002		82,112
Corbion NV		3,321		78,284
Covestro AG*(b)		2,870		154,514
Croda International plc		2,378		180,214
Daicel Corp.		8,900		82,435
Denka Co. Ltd.		1,400		27,644
DIC Corp.		2,899		54,703
DSM-Firmenich AG		3,362		372,531
Elementis plc*		41,976		59,733
Elkem ASA(b)		5,870		13,949
EMS-Chemie Holding AG (Registered)(a)		126		105,527
Essentra plc		16,940		35,397
Evonik Industries AG		6,560		136,048
FUCHS SE		711		23,517
FUCHS SE (Preference)		1,182		49,001
Fujimori Kogyo Co. Ltd.(a)		4,100		103,019
Fuso Chemical Co. Ltd.		1,100		34,646
Givaudan SA (Registered)		123		417,024
Grupa Azoty SA*		11,480		77,537
Hexpol AB		5,784		62,918
ICL Group Ltd.		18,163		120,966
Incitec Pivot Ltd.		36,784		74,857
Israel Corp. Ltd.		104		32,503
JCU Corp.		1,400		33,305
Johnson Matthey plc		2,460		57,005
JSR Corp.		3,100		88,846
K+S AG (Registered)		4,961		94,763
Kaneka Corp.		1,300		38,264
Kansai Paint Co. Ltd.		5,300		86,879
Kanto Denka Kogyo Co. Ltd.(a)		20,500		136,782
Kemira OYJ		2,992		47,041
KH Neochem Co. Ltd.(a)		12,300		201,104
Kumiai Chemical Industry Co. Ltd.		32,800		246,092
Kuraray Co. Ltd.		10,800		108,661
Kureha Corp.		800		47,804
LANXESS AG		2,156		72,787
Lenzing AG*(a)		1,068		53,990
Lintec Corp.		16,400		270,505
Methanex Corp.		1,290		58,245
Mitsubishi Chemical Group Corp.		24,600		147,084
Mitsubishi Gas Chemical Co., Inc.		6,200		92,882
Mitsui Chemicals, Inc.		5,500		157,939
Nihon Nohyaku Co. Ltd.		16,400		85,532
Nihon Parkerizing Co. Ltd.		4,100		32,060
Nippon Kayaku Co. Ltd.		3,800		35,050
Nippon Paint Holdings Co. Ltd.		16,400		150,287
Nippon Pillar Packing Co. Ltd.(a)		8,200		256,827
Nippon Sanso Holdings Corp.		2,800		67,635
Nippon Shokubai Co. Ltd.		1,400		53,870
Nippon Soda Co. Ltd.(a)		9,939		373,552
Nissan Chemical Corp.		2,900		130,243
Nitto Denko Corp.		1,800		127,956
NOF Corp.		1,200		51,782
Novozymes A/S, Class B(a)		3,567		179,424


Investments	Shares		Value ($)
Nufarm Ltd.		20,418		73,884
Nutrien Ltd.		10,742		741,596
OCI NV		1,933		55,156
Okamoto Industries, Inc.(a)		5,900		164,027
Orica Ltd.		6,731		71,437
Osaka Soda Co. Ltd.(a)		8,800		357,996
Recticel SA		2,200		27,943
Resonac Holdings Corp.		4,200		68,714
Sanyo Chemical Industries Ltd.		4,100		124,807
Shikoku Kasei Holdings Corp.		3,200		31,914
Shin-Etsu Chemical Co. Ltd.		45,100		1,485,240
Shin-Etsu Polymer Co. Ltd.		800		7,939
Sika AG (Registered)		2,378		742,602
SOL SpA		3,009		85,096
Solvay SA		1,681		202,205
Sumitomo Chemical Co. Ltd.(a)		49,200		151,707
Symrise AG, Class A		1,640		179,697
T Hasegawa Co. Ltd.		900		21,474
Taiyo Holdings Co. Ltd.		1,800		33,661
Teijin Ltd.(a)		4,100		43,834
Tessenderlo Group SA(a)		9,389		315,731
Toagosei Co. Ltd.(a)		45,100		427,415
Tokai Carbon Co. Ltd.		6,600		58,670
Tokuyama Corp.		24,600		422,899
Tokyo Ohka Kogyo Co. Ltd.		700		44,169
Toray Industries, Inc.		20,500		114,735
Tosoh Corp.		7,800		101,919
Toyo Gosei Co. Ltd.(a)		300		17,969
Toyo Ink SC Holdings Co. Ltd.		13,900		214,448
Toyobo Co. Ltd.(a)		28,700		218,967
UBE Corp.		4,100		74,841
Umicore SA		3,034		90,051
Victrex plc		5,289		105,071
Wacker Chemie AG		256		39,896
W-Scope Corp.*(a)		4,100		44,353
Yara International ASA		2,583		105,807
Zeon Corp.(a)		3,600		38,792

				16,705,941

Commercial Services & Supplies - 1.1%
Aker Carbon Capture ASA*		23,288		35,474
Befesa SA(a)(b)		1,394		53,547
Big Technologies plc*		11,924		40,349
Bilfinger SE		9,840		357,369
Boyd Group Services, Inc.		372		68,468
Brambles Ltd.		23,903		226,626
Bravida Holding AB(b)		984		7,923
Caverion OYJ		8,888		83,883
Cleanaway Waste Management Ltd.(a)		35,024		65,139
Coor Service Management Holding AB(b)		6,692		30,863
Dai Nippon Printing Co. Ltd.(a)		4,100		116,553
Daiseki Co. Ltd.(a)		1,499		50,484
Derichebourg SA		31,816		196,616
DO & CO AG(a)		369		49,960
Downer EDI Ltd.(a)		241,285		713,770
Duskin Co. Ltd.(a)		4,100		92,631
Elis SA		4,777		100,304
GFL Environmental, Inc.		2,416		82,653


Investments	Shares		Value ($)
Intrum AB(a)		28,085		219,067
ISS A/S		2,508		50,815
Japan Elevator Service Holdings Co. Ltd.		4,200		51,909
Kokuyo Co. Ltd.		4,100		65,794
Loomis AB, Class B		984		28,731
Matsuda Sangyo Co. Ltd.		4,100		67,179
Mitie Group plc		506,145		662,954
Mitsubishi Pencil Co. Ltd.		1,800		23,564
Nippon Kanzai Holdings Co. Ltd.		1,300		24,229
Okamura Corp.(a)		30,500		437,493
Park24 Co. Ltd.*		2,200		29,002
Prestige International, Inc.		4,000		16,329
Prosegur Cash SA(b)		90,528		63,480
Prosegur Cia de Seguridad SA		57,195		105,689
RB Global, Inc.		2,829		183,033
Rentokil Initial plc		37,064		302,821
Sdiptech AB, Class B*		1,958		54,151
Secom Co. Ltd.		2,700		181,159
Securitas AB, Class B		11,275		96,102
Serco Group plc		79,745		159,344
Smart Metering Systems plc		7,215		64,704
Societe BIC SA		328		20,107
Sohgo Security Services Co. Ltd.		9,500		58,078
SPIE SA		2,992		89,992
Takkt AG		2,728		39,281
TOPPAN, Inc.		4,100		96,440
Veridis Environment Ltd.*(a)		2,870		14,845
Waste Connections, Inc.(a)		3,936		556,886

				6,135,790

Communications Equipment - 0.2%
Nokia OYJ		84,009		331,409
Spirent Communications plc		25,338		55,129
Telefonaktiebolaget LM Ericsson, Class A(a)		3,789		20,554
Telefonaktiebolaget LM Ericsson, Class B		59,081		297,387
VTech Holdings Ltd.		57,400		357,338

				1,061,817

Construction & Engineering - 1.8%
Ackermans & van Haaren NV		454		79,288
ACS Actividades de Construccion y Servicios SA(a)		5,122		179,526
AF Gruppen ASA		704		9,478
Ashtrom Group Ltd.		1,861		28,137
Balfour Beatty plc		18,286		82,206
Bouygues SA		5,576		200,234
Burkhalter Holding AG		615		66,122
Chiyoda Corp.*(a)		61,500		149,335
Chudenko Corp.		4,100		67,237
Daiho Corp.(a)		4,100		114,706
Eiffage SA		1,640		171,090
Elco Ltd.		3,854		140,647
Elecnor SA		15,539		238,999
Electra Ltd.		15		6,633
EXEO Group, Inc.(a)		4,100		85,287
Ferrovial SE		7,118		236,537
Fugro NV*		7,040		125,744


Investments	Shares		Value ($)
Gold Finance Holdings Ltd.*‡		89,827		—
Hazama Ando Corp.(a)		59,800		478,551
HOCHTIEF AG		442		43,640
INFRONEER Holdings, Inc.		4,100		39,924
Instalco AB(a)(b)		11,606		45,728
JGC Holdings Corp.		5,400		75,671
Johns Lyng Group Ltd.(a)		4,879		17,392
Kajima Corp.		12,400		196,019
Kandenko Co. Ltd.		8,200		71,912
Kinden Corp.		2,300		31,729
Kumagai Gumi Co. Ltd.		13,100		296,889
Kvutzat Acro Ltd.(a)		4,223		49,600
Kyudenko Corp.(a)		2,100		60,585
Maire Tecnimont SpA(a)		56,580		233,060
MIRAIT ONE Corp.		36,900		473,976
Monadelphous Group Ltd.		7,216		66,227
Morgan Sindall Group plc		15,662		384,491
NCC AB, Class B(a)		26,773		288,942
Nippon Densetsu Kogyo Co. Ltd.		1,700		25,701
Nippon Road Co. Ltd. (The)		1,400		94,693
Nishimatsu Construction Co. Ltd.		1,700		44,319
NRW Holdings Ltd.		169,986		314,999
NYAB OYJ(a)		33,784		26,893
Obayashi Corp.		12,300		113,797
Okumura Corp.		12,300		367,926
Peab AB, Class B		78,105		346,093
Penta-Ocean Construction Co. Ltd.		9,700		52,658
Raito Kogyo Co. Ltd.		3,200		46,374
Raiznext Corp.		12,300		126,047
Sacyr SA(a)		29,201		100,064
Sanki Engineering Co. Ltd.		18,000		195,735
Shapir Engineering and Industry Ltd.(a)		2,525		18,092
Shikun & Binui Ltd.*(a)		20,336		55,896
Shimizu Corp.		8,200		56,537
Shinnihon Corp.(a)		12,300		109,685
SHO-BOND Holdings Co. Ltd.		1,200		48,758
Skanska AB, Class B		8,610		137,498
SNC-Lavalin Group, Inc.(a)		2,068		60,190
Stantec, Inc.		1,848		125,376
Sumitomo Densetsu Co. Ltd.		6,400		142,568
Sumitomo Mitsui Construction Co. Ltd.		65,600		174,065
Sweco AB, Class B		4,708		48,570
Taihei Dengyo Kaisha Ltd.		5,400		168,940
Taikisha Ltd.		1,000		29,772
Taisei Corp.		4,600		174,378
Takamatsu Construction Group Co. Ltd.		8,200		155,828
Toa Corp.		8,200		187,282
Toda Corp.(a)		5,200		28,972
Toenec Corp.		4,100		108,358
Toyo Construction Co. Ltd.		8,200		62,331
Veidekke ASA		3,088		34,920
Ventia Services Group Pty. Ltd.		28,618		55,924
Vinci SA		8,077		950,908
Webuild SpA(a)		28,249		55,440
Worley Ltd.		7,728		90,402
WSP Global, Inc.		1,763		243,304


Investments	Shares		Value ($)
Yokogawa Bridge Holdings Corp.		14,800		266,250

				10,281,085

Construction Materials - 0.9%
Adbri Ltd.(a)		130,216		218,488
Boral Ltd.*(a)		3,476		10,212
Breedon Group plc		102,147		478,396
Brickworks Ltd.		1,435		25,054
Buzzi SpA		3,148		89,686
Cementir Holding NV		18,081		171,044
CRH plc		16,728		1,000,420
CSR Ltd.(a)		24,887		95,925
Heidelberg Materials AG		3,075		249,868
Holcim Ltd.		12,177		851,273
Ibstock plc(b)		27,720		53,535
Imerys SA		1,103		38,405
James Hardie Industries plc, CHDI*		6,190		181,361
Marshalls plc(a)		78,105		269,926
Mitani Sekisan Co. Ltd.		1,200		40,709
RHI Magnesita NV(a)		9,266		356,232
Sumitomo Osaka Cement Co. Ltd.		1,700		47,705
Taiheiyo Cement Corp.		2,200		45,942
Titan Cement International SA(a)		15,908		335,353
Vicat SA		8,077		275,174
Wienerberger AG		2,596		85,351

				4,920,059

Consumer Finance - 0.3%
Acom Co. Ltd.(a)		20,500		50,399
AEON Financial Service Co. Ltd.		4,100		36,821
Cembra Money Bank AG		1,722		131,109
Credit Corp. Group Ltd.(a)		6,068		96,499
Credit Saison Co. Ltd.		2,100		33,552
Direct Finance of Direct Group 2006 Ltd.(a)		574		70,973
goeasy Ltd.		4,510		435,872
Gruppo MutuiOnline SpA(a)		1,056		37,898
Isracard Ltd.		15,211		63,316
J Trust Co. Ltd.		32,800		108,733
Jaccs Co. Ltd.		9,900		363,028
KRUK SA*		738		80,772
Latitude Group Holdings Ltd.(a)		88,452		70,928
Marui Group Co. Ltd.(a)		3,200		57,320
Orient Corp.		4,100		32,089
Sun Hung Kai & Co. Ltd.		246,000		91,477

				1,760,786

Consumer Staples Distribution & Retail - 1.5%
Aeon Co. Ltd.		13,813		299,243
Ain Holdings, Inc.		800		28,440
Alimentation Couche-Tard, Inc.		11,849		600,980
Arcs Co. Ltd.		19,218		335,449
Axfood AB		1,496		38,185
Axial Retailing, Inc.		8,200		219,025
Belc Co. Ltd.		800		37,894
Carrefour SA		12,546		251,615
Casino Guichard Perrachon SA*(a)		15,006		39,211
Coles Group Ltd.		21,074		258,311
Cosmos Pharmaceutical Corp.		200		23,128
Create SD Holdings Co. Ltd.		500		12,352
Dino Polska SA*(b)		1,012		113,067


Investments	Shares		Value ($)
Distribuidora Internacional de Alimentacion SA*		3,367,945		56,814
Empire Co. Ltd., Class A		4,018		109,314
Endeavour Group Ltd.		17,056		69,879
Etablissements Franz Colruyt NV(a)		1,044		39,792
Fuji Co. Ltd.		4,200		54,185
George Weston Ltd.(a)		1,148		132,440
GrainCorp Ltd., Class A		78,679		428,914
HelloFresh SE*		3,046		87,015
Inageya Co. Ltd.(a)		2,998		31,651
J Sainsbury plc(a)		38,557		137,616
Jeronimo Martins SGPS SA		5,155		140,727
Kansai Food Market Ltd.(a)		8,200		83,570
Kato Sangyo Co. Ltd.		700		19,215
Kesko OYJ, Class A		2,248		45,159
Kesko OYJ, Class B		4,715		94,587
Kobe Bussan Co. Ltd.		1,900		50,656
Koninklijke Ahold Delhaize NV		21,935		759,029
Kusuri no Aoki Holdings Co. Ltd.		600		34,451
Life Corp.		8,200		205,750
Loblaw Cos. Ltd.		2,460		218,667
Marks & Spencer Group plc*		48,796		129,522
MARR SpA		4,018		62,641
MatsukiyoCocokara & Co.		2,400		140,456
Maxvalu Tokai Co. Ltd.		500		9,811
Metcash Ltd.		17,514		42,487
METRO AG*		4,346		37,878
Metro, Inc., Class A		3,608		194,537
Mitsubishi Shokuhin Co. Ltd.		8,200		218,447
North West Co., Inc. (The)		2,419		58,993
Ocado Group plc*(a)		13,642		164,712
Oisix ra daichi, Inc.*(a)		2,000		32,869
Olam Group Ltd.		28,700		28,315
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.		574		34,782
Redcare Pharmacy NV*(b)		748		87,089
Seven & i Holdings Co. Ltd.		12,600		522,606
Sheng Siong Group Ltd.		17,900		22,109
Shufersal Ltd.*		3,578		19,044
Sonae SGPS SA		62,361		67,965
Sugi Holdings Co. Ltd.		800		35,670
Sundrug Co. Ltd.		1,600		47,252
Tesco plc		151,085		501,535
Tsuruha Holdings, Inc.		900		69,141
United Super Markets Holdings, Inc.(a)		2,000		15,752
Valor Holdings Co. Ltd.		16,400		246,323
Welcia Holdings Co. Ltd.(a)		2,300		43,319
Woolworths Group Ltd.(a)		17,343		451,336

				8,340,922

Containers & Packaging - 0.3%
Billerud Aktiebolag		5,485		46,866
CCL Industries, Inc., Class B		2,759		132,516
DS Smith plc		26,376		105,068
FP Corp.		1,200		25,287
Fuji Seal International, Inc.		2,000		22,396
Huhtamaki OYJ		2,051		73,064
Mayr Melnhof Karton AG		275		42,084


Investments	Shares		Value ($)
Orora Ltd.(a)		19,096		46,196
Rengo Co. Ltd.		5,200		33,141
SIG Group AG		6,150		165,305
Smurfit Kappa Group plc		5,781		229,395
Toyo Seikan Group Holdings Ltd.		5,600		91,106
Transcontinental, Inc., Class A		25,379		252,392
Verallia SA(b)		1,364		60,636
Vidrala SA		902		91,991
Winpak Ltd.		1,716		52,878

				1,470,321

Distributors - 0.1%
Arata Corp.		4,100		141,832
Bapcor Ltd.		17,917		75,459
D’ieteren Group		343		60,016
Inchcape plc		6,396		67,358
Inter Cars SA		205		32,844
PALTAC Corp.		800		26,886
Uni-Select, Inc.*		2,169		78,933

				483,328

Diversified Consumer Services - 0.1%
AcadeMedia AB(a)(b)		30,914		149,311
Auction Technology Group plc*		2,583		23,563
G8 Education Ltd.(a)		51,492		38,168
IDP Education Ltd.(a)		2,501		41,930
InvoCare Ltd.		6,933		57,043
Pearson plc		13,448		149,600

				459,615

Diversified REITs - 0.5%
Argosy Property Ltd., REIT(a)		68,432		51,958
British Land Co. plc (The), REIT		22,509		97,889
Centuria Capital Group, REIT(a)		53,751		61,574
Charter Hall Group, REIT(a)		8,140		62,695
Charter Hall Long Wale REIT, REIT(a)		20,910		57,911
Cromwell European REIT, REIT(b)		98,474		174,801
Daiwa House REIT Investment Corp., REIT		42		82,770
GPT Group (The), REIT		14,186		41,487
Growthpoint Properties Australia Ltd., REIT		27,019		52,253
H&R REIT, REIT(a)		48,298		377,578
Hankyu Hanshin REIT, Inc., REIT		82		82,012
Heiwa Real Estate REIT, Inc., REIT		43		43,914
Hulic Reit, Inc., REIT(a)		24		27,872
ICADE, REIT		836		34,178
Land Securities Group plc, REIT		6,027		50,204
LXI REIT plc, REIT(b)		113,201		138,586
Merlin Properties Socimi SA, REIT		7,011		65,473
Mirvac Group, REIT		36,859		58,120
Mori Trust Reit, Inc., REIT(a)		82		42,304
NIPPON REIT Investment Corp., REIT(a)		18		42,884
Nomura Real Estate Master Fund, Inc., REIT(a)		82		97,652
NTT UD REIT Investment Corp., REIT		24		22,787
OUE Commercial REIT, REIT		175,177		40,898
Reit 1 Ltd., REIT		68,675		299,919


Investments	Shares		Value ($)
Sekisui House Reit, Inc., REIT		55		32,672
Sella Capital Real Estate Ltd., REIT		85,198		178,040
Star Asia Investment Corp., REIT		66		26,710
Stockland, REIT		23,534		66,922
Stride Property Group, REIT(a)		32,713		31,149
Suntec REIT, REIT		43,500		42,262
Takara Leben Real Estate Investment Corp., REIT(a)		205		140,534
Tokyu REIT, Inc., REIT		22		29,126
United Urban Investment Corp., REIT		40		43,215

				2,698,349

Diversified Telecommunication Services - 1.1%
BCE, Inc.(a)		3,731		161,457
Bezeq The Israeli Telecommunication Corp. Ltd.		38,130		50,685
BT Group plc(a)		151,864		238,383
Cellnex Telecom SA(b)		8,938		366,000
Chorus Ltd.		8,733		46,741
Deutsche Telekom AG (Registered)		76,260		1,668,325
Elisa OYJ		2,378		124,381
Gamma Communications plc		4,867		69,384
Helios Towers plc*		26,527		30,871
HKBN Ltd.		51,500		28,066
HKT Trust & HKT Ltd.		53,400		62,927
Infrastrutture Wireless Italiane SpA(b)		5,179		65,181
Internet Initiative Japan, Inc.		2,000		37,218
Koninklijke KPN NV		53,546		194,350
Nippon Telegraph & Telephone Corp.		512,500		587,600
NOS SGPS SA		9,348		35,620
Orange Polska SA		38,417		70,898
Orange SA		37,392		423,974
PCCW Ltd.		77,035		39,314
Proximus SADP		8,241		63,294
RAI Way SpA(b)		8,120		46,375
Singapore Telecommunications Ltd.		106,600		213,553
Spark New Zealand Ltd.		29,930		96,487
Swisscom AG (Registered)		451		291,562
Telecom Italia SpA*(a)		14,063		4,067
Telecom Italia SpA*		253,462		71,289
Telefonica Deutschland Holding AG		10,209		27,588
Telefonica SA		115,169		492,300
Telekom Austria AG, Class A		4,091		31,213
Telenor ASA		7,093		76,073
Telia Co. AB(a)		17,712		38,146
Telstra Group Ltd.		63,919		183,486
TELUS Corp.		5,166		92,154
TPG Telecom Ltd.(a)		11,890		40,221
United Internet AG (Registered)		4,715		70,804

				6,139,987

Electric Utilities - 1.4%
Acciona SA		369		55,473
BKW AG		440		79,234
Chubu Electric Power Co., Inc.		16,400		205,750
Chugoku Electric Power Co., Inc. (The)*		4,206		29,212
CK Infrastructure Holdings Ltd.		11,000		58,183
CLP Holdings Ltd.		25,500		207,467
Contact Energy Ltd.		11,528		59,620


Investments	Shares		Value ($)
EDP - Energias de Portugal SA		46,945		219,977
Elia Group SA/NV		640		78,960
Emera, Inc.(a)		4,182		169,949
Endesa SA(a)		4,510		96,889
Enea SA*		84,952		187,360
Enel SpA		169,125		1,169,532
EVN AG		748		17,772
Fortis, Inc.(a)		7,298		311,658
Fortum OYJ		10,537		143,012
Genesis Energy Ltd.(a)		15,998		26,982
HK Electric Investments & HK Electric Investments Ltd.(b)		44,500		27,674
Hokkaido Electric Power Co., Inc.*		77,900		363,950
Hokuriku Electric Power Co.*(a)		66,100		403,402
Hydro One Ltd.(b)		4,633		130,938
Iberdrola SA(a)		93,294		1,167,990
Infratil Ltd.		8,272		51,223
Kansai Electric Power Co., Inc. (The)		16,400		215,850
Kyushu Electric Power Co., Inc.*		9,100		61,890
Manawa Energy Ltd.(a)		5,123		15,304
Mercury NZ Ltd.		10,742		44,056
Origin Energy Ltd.		26,363		150,467
Orsted A/S(b)		2,870		251,024
PGE Polska Grupa Energetyczna SA*		25,070		53,484
Power Assets Holdings Ltd.		22,500		117,712
Redeia Corp. SA		6,806		114,098
Romande Energie Holding SA (Registered)		525		31,251
Shikoku Electric Power Co., Inc.*		73,800		520,205
SSE plc		16,389		355,420
Tauron Polska Energia SA*		396,880		369,895
Terna - Rete Elettrica Nazionale		21,416		181,531
Tohoku Electric Power Co., Inc.*		10,900		72,613
Tokyo Electric Power Co. Holdings, Inc.*		22,400		89,077
Verbund AG		656		54,499

				7,960,583

Electrical Equipment - 1.3%
ABB Ltd. (Registered)		25,953		1,043,689
Accelleron Industries AG		4,510		119,143
Alfen N.V.*(a)(b)		1,230		85,599
Ballard Power Systems, Inc.*(a)		13,202		62,888
Ceres Power Holdings plc*(a)		5,412		25,388
Daihen Corp.		8,200		316,273
DiscoverIE Group plc		4,796		49,428
Energiekontor AG		410		35,712
Fagerhult Group AB		6,336		32,441
Fuji Electric Co. Ltd.		1,500		67,758
Fujikura Ltd.		8,200		68,507
Furukawa Electric Co. Ltd.(a)		24,600		472,071
GS Yuasa Corp.		4,100		82,430
Hexatronic Group AB(a)		2,337		17,731
Huber + Suhner AG (Registered)		867		75,213
Idec Corp.		2,200		46,762
Legrand SA		4,264		428,380
Mabuchi Motor Co. Ltd.		1,600		45,968
Mersen SA		7,831		369,538
Mitsubishi Electric Corp.		32,800		473,485


Investments	Shares		Value ($)
NEL ASA*(a)		12,688		17,276
Nexans SA		451		40,128
Nidec Corp.		8,310		494,401
NKT A/S*(a)		3,381		193,977
Nordex SE*		7,130		101,095
PNE AG		2,173		31,913
Prysmian SpA		3,936		157,312
Sanyo Denki Co. Ltd.(a)		4,100		207,770
Schneider Electric SE		8,774		1,567,538
Siemens Energy AG*		6,384		108,325
Signify NV(b)		2,730		85,995
TKH Group NV, CVA		2,194		114,806
Varta AG*		1,008		22,905
Vestas Wind Systems A/S*		15,621		419,777

				7,481,622

Electronic Equipment, Instruments & Components - 1.9%
Ai Holdings Corp.		4,100		64,582
Alps Alpine Co. Ltd.		5,348		47,258
ALSO Holding AG (Registered)		369		84,795
Amano Corp.		800		18,176
Anritsu Corp.(a)		8,200		64,582
AT&S Austria Technologie & Systemtechnik AG(a)		8,733		330,838
Azbil Corp.		2,100		66,216
Barco NV		3,731		87,126
Canon Electronics, Inc.		8,200		104,231
Canon Marketing Japan, Inc.		1,500		39,337
Celestica, Inc.*		36,695		807,917
Citizen Watch Co. Ltd.(a)		8,200		53,559
Codan Ltd.(a)		7,304		36,963
Comet Holding AG (Registered)		462		122,049
Daiwabo Holdings Co. Ltd.		4,100		79,386
Dexerials Corp.(a)		24,600		557,517
Elematec Corp.		4,100		51,481
FIH Mobile Ltd.*		328,000		35,329
FIT Hon Teng Ltd.*(a)(b)		615,000		107,249
Halma plc		6,519		187,548
Hamamatsu Photonics KK		2,700		130,097
Hexagon AB, Class B		30,791		298,753
Hioki EE Corp.		700		40,006
Hirose Electric Co. Ltd.		582		73,692
Horiba Ltd.		800		47,190
Hosiden Corp.		20,500		265,051
Ibiden Co. Ltd.		2,800		169,994
Inficon Holding AG (Registered)		82		105,568
Iriso Electronics Co. Ltd.		1,200		33,319
Japan Display, Inc.*(a)		229,600		63,024
Jenoptik AG		2,585		83,793
Kaga Electronics Co. Ltd.		8,300		371,537
Keyence Corp.		3,000		1,346,284
Kitron ASA		9,471		35,060
Koa Corp.(a)		4,100		50,731
Kyocera Corp.		5,700		306,664
Lagercrantz Group AB, Class B		2,640		31,833
Landis+Gyr Group AG(a)		1,102		95,854
LEM Holding SA (Registered)		27		65,409
Macnica Holdings, Inc.		1,600		67,005
Maxell Ltd.(a)		16,400		186,416


Investments	Shares		Value ($)
Meiko Electronics Co. Ltd.(a)		8,200		162,811
Murata Manufacturing Co. Ltd.		9,400		550,781
Mycronic AB		924		19,909
NCAB Group AB		9,298		55,704
Nichicon Corp.		3,200		31,622
Nissha Co. Ltd.(a)		16,400		198,074
Nohmi Bosai Ltd.		2,500		30,353
Omron Corp.		2,800		150,208
Optex Group Co. Ltd.		4,100		53,789
Oxford Instruments plc		3,036		93,750
PAX Global Technology Ltd.		246,000		199,356
Renishaw plc		880		44,158
Restar Holdings Corp.		8,200		136,840
Riken Keiki Co. Ltd.		1,200		45,355
Ryosan Co. Ltd.(a)		8,200		259,424
Sensirion Holding AG*(b)		733		64,519
Sesa SpA(a)		294		34,554
SES-imagotag SA*(a)		246		31,951
Shimadzu Corp.		4,900		148,676
Siix Corp.		12,300		132,973
Softwareone Holding AG(a)		6,068		130,341
Spectris plc		2,112		95,408
Taiyo Yuden Co. Ltd.		2,500		74,500
TDK Corp.		6,700		256,390
Tokyo Electron Device Ltd.(a)		1,900		136,669
Topcon Corp.		4,100		49,822
Vaisala OYJ, Class A		836		33,966
Venture Corp. Ltd.		4,500		50,768
VSTECS Holdings Ltd.		250,000		126,624
Yokogawa Electric Corp.		4,900		91,961

				10,304,675

Energy Equipment & Services - 0.5%
Aker Solutions ASA(b)		7,560		33,628
Borr Drilling Ltd.*(a)		4,018		34,296
BW Offshore Ltd.		23,042		63,091
John Wood Group plc*		33,661		64,012
Lapidoth Capital Ltd.(a)		7,913		142,983
Modec, Inc.*		8,200		86,167
Odfjell Drilling Ltd.*		34,768		98,635
PGS ASA*		318,652		223,953
Saipem SpA*		24,641		39,556
SBM Offshore NV		64,124		933,946
Schoeller-Bleckmann Oilfield Equipment AG		615		37,294
Secure Energy Services, Inc.		104,755		548,347
Subsea 7 SA		3,608		48,522
Technip Energies NV		3,977		90,898
Tenaris SA		9,799		163,463
TGS ASA		1,927		25,734
Vallourec SA*(a)		5,740		75,059

				2,709,584

Entertainment - 0.5%
Bollore SE		12,858		81,515
Capcom Co. Ltd.		3,400		153,153
CD Projekt SA		1,193		48,785
COLOPL, Inc.		8,200		38,380
CTS Eventim AG & Co. KGaA		704		48,163
Daiichikosho Co. Ltd.		2,200		44,432


Investments	Shares		Value ($)
DeNA Co. Ltd.		1,100		13,487
Embracer Group AB, Class B*(a)		13,161		37,895
EVT Ltd.		6,232		51,275
Kahoot! ASA*		22,755		78,410
Kinepolis Group NV		1,030		50,365
Koei Tecmo Holdings Co. Ltd.		2,492		42,656
Konami Group Corp.(a)		1,000		56,088
Modern Times Group MTG AB, Class B*		7,040		45,895
Nexon Co. Ltd.		8,200		156,434
Nintendo Co. Ltd.		18,000		817,145
Paradox Interactive AB		952		27,380
Rovio Entertainment OYJ(b)		3,280		33,307
Shochiku Co. Ltd.(a)		800		61,205
Square Enix Holdings Co. Ltd.		1,800		83,412
Stillfront Group AB*		160,351		297,124
Toei Animation Co. Ltd.(a)		200		18,131
Toho Co. Ltd.		1,200		46,791
Ubisoft Entertainment SA*		1,425		48,077
Universal Music Group NV		11,480		295,294

				2,674,799

Financial Services - 1.7%
Adyen NV*(b)		492		916,640
AMP Ltd.		65,142		49,602
Banca Mediolanum SpA		4,444		43,314
BFF Bank SpA(b)		61,090		691,060
Burford Capital Ltd.		3,280		44,608
Challenger Ltd.		9,812		47,407
Creades AB, Class A		13,243		92,194
Deutsche Pfandbriefbank AG(b)		41,943		349,838
Edenred		4,059		264,398
Element Fleet Management Corp.		7,708		124,558
Eurazeo SE		1,144		70,003
EXOR NV		2,624		245,739
Financial Partners Group Co. Ltd.		20,500		197,815
First National Financial Corp.		123		3,653
Fuyo General Lease Co. Ltd.		1,000		82,559
GMO Payment Gateway, Inc.		1,000		76,260
GRENKE AG		1,804		49,824
Groupe Bruxelles Lambert NV		2,009		162,893
HAL Trust		1,189		148,660
Helia Group Ltd.		109,347		285,892
Home Capital Group, Inc., Class B		14,309		465,498
Hypoport SE*		252		52,762
Industrivarden AB, Class A		5,371		152,734
Industrivarden AB, Class C(a)		2,173		61,648
Investment AB Oresund		9,198		91,564
Investor AB, Class A		10,291		209,297
Investor AB, Class B		26,035		532,593
Japan Securities Finance Co. Ltd.		4,700		39,894
Kinnevik AB, Class A*		2,665		39,109
Kinnevik AB, Class B*		902		12,331
L E Lundbergforetagen AB, Class B		1,348		59,501
Liberty Financial Group Ltd.(a)(b)		14,555		38,349
M&G plc		48,380		124,870
Mitsubishi HC Capital, Inc.		15,729		104,052
Mizuho Leasing Co. Ltd.		12,438		427,206


Investments	Shares		Value ($)
Network International Holdings plc*(b)		14,574		72,456
Nexi SpA*(b)		7,872		68,341
Nuvei Corp.*(b)		1,328		45,371
ORIX Corp.		26,100		501,683
OSB Group plc		128,002		604,755
Paragon Banking Group plc		85,321		579,629
PEUGEOT INVEST		308		36,404
Plus500 Ltd.		38,253		741,226
Ricoh Leasing Co. Ltd.(a)		5,400		167,420
Sofina SA		316		75,325
Tokyo Century Corp.		600		23,488
Tyro Payments Ltd.*		8,888		8,355
Washington H Soul Pattinson & Co. Ltd.(a)		2,856		63,413
Wendel SE		497		49,207
Wise plc, Class A*		9,328		93,279
Worldline SA*(b)		2,829		112,382
Zenkoku Hosho Co. Ltd.		600		21,068

				9,622,127

Food Products - 2.4%
a2 Milk Co. Ltd. (The)*(a)		12,579		43,214
AAK AB		2,860		55,036
Agrana Beteiligungs AG		5,885		105,114
Ajinomoto Co., Inc.		8,200		319,562
Ariake Japan Co. Ltd.		800		29,184
Aryzta AG*		62,524		107,398
Associated British Foods plc		5,043		133,016
Ausnutria Dairy Corp. Ltd.		98,000		45,490
Austevoll Seafood ASA		3,432		25,834
Bakkafrost P/F		820		47,944
Barry Callebaut AG (Registered)		41		77,237
Bega Cheese Ltd.(a)		2,583		5,657
Bell Food Group AG (Registered)		123		36,537
Bumitama Agri Ltd.		282,900		121,444
Calbee, Inc.(a)		600		11,662
Chocoladefabriken Lindt & Spruengli AG		24		295,138
Chocoladefabriken Lindt & Spruengli AG (Registered)		2		244,102
Costa Group Holdings Ltd.		28,801		64,239
Cranswick plc		3,006		129,025
Danone SA		9,102		557,266
DyDo Group Holdings, Inc.		500		18,194
Ebro Foods SA		1,618		29,934
Elders Ltd.(a)		59,081		290,228
Emmi AG (Registered)		41		40,392
First Pacific Co. Ltd.		820,000		296,511
First Resources Ltd.		5,100		5,800
Fuji Oil Holdings, Inc.		1,200		16,938
Glanbia plc(a)		3,500		54,449
Golden Agri-Resources Ltd.		213,400		40,179
Grieg Seafood ASA		3,299		23,822
Hilton Food Group plc		27,101		225,257
Hokuto Corp.		4,100		53,732
House Foods Group, Inc.		2,400		55,490
Inghams Group Ltd.		17,712		33,419
Itoham Yonekyu Holdings, Inc.		6,200		31,506


Investments	Shares		Value ($)
JDE Peet’s NV		1,804		54,578
Kagome Co. Ltd.		900		20,080
Kameda Seika Co. Ltd.		900		27,650
Kerry Group plc, Class A(a)		2,009		200,149
Kikkoman Corp.		4,100		236,166
Kotobuki Spirits Co. Ltd.		500		38,042
Leroy Seafood Group ASA		5,456		22,770
Lotus Bakeries NV		6		48,159
Maple Leaf Foods, Inc.		3,772		78,864
Maruha Nichiro Corp.(a)		16,400		284,761
Megmilk Snow Brand Co. Ltd.		18,400		253,958
MEIJI Holdings Co. Ltd.		3,400		78,682
Morinaga & Co. Ltd.		1,100		35,792
Morinaga Milk Industry Co. Ltd.		1,200		40,515
Mowi ASA		5,412		95,358
Nestle SA (Registered)		41,533		5,120,894
Neto Malinda Trading Ltd.*(a)		615		10,999
NH Foods Ltd.		3,200		92,432
Nichirei Corp.		1,600		36,588
Nisshin Oillio Group Ltd. (The)		9,300		250,042
Nisshin Seifun Group, Inc.(a)		2,690		33,398
Nissin Foods Holdings Co. Ltd.		1,500		126,689
Nissui Corp.		114,800		546,690
Orkla ASA		8,856		70,102
Premier Foods plc		46,494		75,854
Premium Brands Holdings Corp., Class A		660		53,808
Prima Meat Packers Ltd.		12,300		191,928
Riken Vitamin Co. Ltd.		1,800		26,301
S Foods, Inc.(a)		7,200		169,763
Sakata Seed Corp.		1,400		39,365
Salmar ASA(a)		788		36,477
Saputo, Inc.		4,375		92,536
Savencia SA		1,676		100,155
Schouw & Co. A/S		656		52,214
Societe LDC SA		1,394		195,193
Strauss Group Ltd.*		952		22,511
Suedzucker AG		1,979		34,366
SunOpta, Inc.*(a)		4,428		29,335
Tate & Lyle plc		5,494		52,769
Toyo Suisan Kaisha Ltd.		1,800		74,607
United Malt Grp Ltd.*		15,129		49,138
Viscofan SA		943		61,343
Vitasoy International Holdings Ltd.(a)		60,000		79,552
WH Group Ltd.(b)		225,500		122,022
Wilmar International Ltd.		69,700		202,622
Yakult Honsha Co. Ltd.		2,500		138,989
Yamazaki Baking Co. Ltd.		2,900		41,883

				13,416,039

Gas Utilities - 0.3%
AltaGas Ltd.(a)		6,068		120,000
APA Group		15,936		107,385
Brookfield Infrastructure Corp., Class A(a)		1,506		70,560
Enagas SA(a)		4,223		75,126
Hong Kong & China Gas Co. Ltd.		164,000		140,264
Italgas SpA(a)		6,908		40,824
K&O Energy Group, Inc.(a)		4,100		68,102


Investments	Shares		Value ($)
Keppel Infrastructure Trust		114,394		43,938
Naturgy Energy Group SA(a)		3,034		92,794
Nippon Gas Co. Ltd.		1,900		28,003
Osaka Gas Co. Ltd.		9,500		149,641
Rubis SCA		3,034		74,998
Saibu Gas Holdings Co. Ltd.		1,400		20,555
Shizuoka Gas Co. Ltd.(a)		16,400		126,740
Snam SpA		29,438		155,209
Superior Plus Corp.		10,208		76,623
Toho Gas Co. Ltd.		2,000		37,493
Tokyo Gas Co. Ltd.		8,200		186,127

				1,614,382

Ground Transportation - 1.2%
ALD SA(b)		2,214		23,593
Aurizon Holdings Ltd.		15,826		40,631
Canadian National Railway Co.		9,266		1,125,225
Canadian Pacific Kansas City Ltd.		14,227		1,172,748
Central Japan Railway Co.		2,900		370,154
ComfortDelGro Corp. Ltd.		73,800		70,032
East Japan Railway Co.		5,500		311,736
Firstgroup plc		31,646		59,569
Hankyu Hanshin Holdings, Inc.		4,300		142,879
Jungfraubahn Holding AG (Registered)		287		50,987
Keikyu Corp.		5,700		54,220
Keio Corp.(a)		1,800		59,848
Keisei Electric Railway Co. Ltd.		2,900		120,425
Kelsian Group Ltd.		14,850		69,346
Kintetsu Group Holdings Co. Ltd.		2,200		73,875
Kyushu Railway Co.		2,100		46,071
Maruzen Showa Unyu Co. Ltd.(a)		8,200		238,647
Mobico Group plc		203,032		243,859
MTR Corp. Ltd.		25,264		116,137
Mullen Group Ltd.(a)		30,709		370,025
Nagoya Railroad Co. Ltd.		4,400		70,871
Nankai Electric Railway Co. Ltd.		3,000		63,640
Nikkon Holdings Co. Ltd.		23,100		485,396
Nishi-Nippon Railroad Co. Ltd.		1,100		19,874
NTG Nordic Transport Group A/S*		792		49,564
Odakyu Electric Railway Co. Ltd.		4,600		67,245
Redde Northgate plc		85,649		379,089
Seibu Holdings, Inc.		6,700		74,531
Seino Holdings Co. Ltd.(a)		3,100		48,776
Sixt SE		308		37,253
Sixt SE (Preference)		298		22,178
Stef SA		1,230		149,446
TFI International, Inc.(a)		1,271		163,432
Tobu Railway Co. Ltd.(a)		4,100		108,531
Tokyu Corp.		8,300		105,415
West Japan Railway Co.		4,100		168,611

				6,773,859

Health Care Equipment & Supplies - 1.2%
Alcon, Inc.		7,790		665,365
Ambu A/S, Class B*(a)		3,172		46,951
Ansell Ltd.(a)		2,200		35,787
Arjo AB, Class B		11,562		49,516
Asahi Intecc Co. Ltd.		3,200		65,721
BioMerieux		825		88,741


Investments	Shares		Value ($)
Carl Zeiss Meditec AG		715		83,050
Cochlear Ltd.		990		159,560
Coloplast A/S, Class B		1,517		189,061
ConvaTec Group plc(b)		26,224		70,384
Demant A/S*		1,980		79,179
DiaSorin SpA		293		32,967
Eckert & Ziegler Strahlen- und Medizintechnik AG		820		32,547
Eiken Chemical Co. Ltd.		1,600		16,993
El.En. SpA(a)		2,684		31,930
Elekta AB, Class B		6,069		49,245
EssilorLuxottica SA (Borsa Italiana Stock Exchange)		2,629		504,357
EssilorLuxottica SA (Bulgaria Stock Exchange)		2,096		422,764
Fisher & Paykel Healthcare Corp. Ltd.		10,109		154,578
Fukuda Denshi Co. Ltd.		8,200		260,290
Getinge AB, Class B		2,980		55,629
Hogy Medical Co. Ltd.		1,200		26,309
Hoya Corp.		5,800		674,789
Japan Lifeline Co. Ltd.		3,000		21,030
Koninklijke Philips NV*(a)		12,874		268,384
Medacta Group SA(b)		336		49,071
Medistim ASA		1,188		30,532
Medmix AG(a)(b)		1,517		42,438
Menicon Co. Ltd.		1,900		34,047
Nagaileben Co. Ltd.		1,500		24,894
Nanosonics Ltd.*(a)		16,777		53,474
Nihon Kohden Corp.		2,300		60,673
Nipro Corp.(a)		4,100		29,795
Olympus Corp.		20,500		334,236
Paramount Bed Holdings Co. Ltd.		1,600		26,205
PolyNovo Ltd.*		32,604		35,592
Revenio Group OYJ		574		20,366
Siemens Healthineers AG(b)		4,715		274,586
Smith & Nephew plc		11,439		174,408
Sonova Holding AG (Registered)		785		219,603
STRATEC SE		308		17,319
Straumann Holding AG (Registered)		1,826		303,649
Surgical Science Sweden AB*		1,584		36,964
Sysmex Corp.		2,700		182,908
Terumo Corp.		12,300		402,641
Xvivo Perfusion AB*		1,892		57,440
Ypsomed Holding AG (Registered)		123		36,325

				6,532,293

Health Care Providers & Services - 0.5%
Alfresa Holdings Corp.		5,500		87,834
Amplifon SpA		2,112		71,697
Arvida Group Ltd.(a)		270,003		210,045
As One Corp.		800		31,807
BML, Inc.(a)		8,200		173,430
Chartwell Retirement Residences(a)		5,472		41,614
Clariane SE(a)		25,420		198,290
CVS Group plc		4,356		115,568
dentalcorp Holdings Ltd.*(a)		6,768		39,284
EBOS Group Ltd.(a)		2,066		49,567
Fagron		3,775		67,343


Investments	Shares		Value ($)
Fresenius Medical Care AG & Co. KGaA		2,706		140,881
Fresenius SE & Co. KGaA		7,462		234,723
Galenica AG(b)		792		64,047
H.U. Group Holdings, Inc.(a)		4,100		81,030
Healius Ltd.		27,347		52,888
Medicover AB, Class B		3,403		52,175
Medipal Holdings Corp.		5,100		87,459
NMC Health plc*		2,074		—	(d)
Raffles Medical Group Ltd.		4,124		4,348
Ramsay Health Care Ltd.(a)		2,952		117,184
Ryman Healthcare Ltd.(a)		11,375		48,210
Ship Healthcare Holdings, Inc.		1,900		30,804
Sonic Healthcare Ltd.		7,462		176,744
Spire Healthcare Group plc(b)		14,036		38,918
Summerset Group Holdings Ltd.		13,735		88,044
Suzuken Co. Ltd.		1,880		54,900
Terveystalo OYJ(b)		8,241		67,056
Tokai Corp.		4,100		55,261
Uniphar plc		15,050		47,706
Well Health Technologies Corp.*(a)		10,947		39,255

				2,568,112

Health Care REITs - 0.1%
Aedifica SA, REIT		832		57,333
Assura plc, REIT		171,872		104,731
Cofinimmo SA, REIT		41		3,219
NorthWest Healthcare Properties REIT, REIT(a)		49,077		260,625
Parkway Life REIT, REIT		12,500		36,527
Primary Health Properties plc, REIT		79,089		96,163
Vital Healthcare Property Trust, REIT		29,771		43,911

				602,509

Health Care Technology - 0.1%
CompuGroup Medical SE & Co. KGaA		1,599		81,379
EMIS Group plc		3,630		67,816
M3, Inc.		6,500		149,279
Medley, Inc.*		1,000		35,684
Nexus AG		984		63,033
Pro Medicus Ltd.(a)		1,100		50,989
Sectra AB, Class B*		2,948		47,303

				495,483

Hotel & Resort REITs - 0.0%(e)
CapitaLand Ascott Trust, REIT		32,566		27,469
CDL Hospitality Trusts, REIT		38,294		34,320
Far East Hospitality Trust, REIT		53,976		26,220
Frasers Hospitality Trust, REIT		39,200		14,171
Hoshino Resorts REIT, Inc., REIT		12		52,618
Invincible Investment Corp., REIT		121		50,161
Japan Hotel REIT Investment Corp., REIT		77		38,262

				243,221

Hotels, Restaurants & Leisure - 1.8%
Accor SA		2,133		80,641
Amadeus IT Group SA		6,765		486,460
AmRest Holdings SE*		6,191		43,318
Arcland Service Holdings Co. Ltd.		1,400		29,856
Aristocrat Leisure Ltd.		9,061		240,139


Investments	Shares		Value ($)
Atom Corp.*(a)		5,800		36,332
Basic-Fit NV*(a)(b)		2,632		89,205
Betsson AB, Class B*		7,708		93,398
Cafe de Coral Holdings Ltd.		4,000		5,242
Carnival plc*		8,733		148,095
Colowide Co. Ltd.		3,500		51,978
Compass Group plc		27,142		707,874
Corporate Travel Management Ltd.(a)		3,366		47,450
Create Restaurants Holdings, Inc.(a)		4,400		33,663
Dalata Hotel Group plc*		8,159		38,277
Deliveroo plc, Class A*(b)		60,106		101,619
Delivery Hero SE*(b)		3,485		158,556
Domino’s Pizza Enterprises Ltd.(a)		1,398		46,254
Domino’s Pizza Group plc		14,145		63,226
Entain plc		9,553		170,358
Evolution AB(a)(b)		3,034		374,792
Flight Centre Travel Group Ltd.*(a)		4,576		72,062
Flutter Entertainment plc*		2,333		465,481
Food & Life Cos. Ltd.		2,000		39,344
Fuji Kyuko Co. Ltd.		1,000		39,907
Galaxy Entertainment Group Ltd.*		36,000		261,274
Genting Singapore Ltd.		104,400		73,909
Greggs plc		1,558		55,367
Heiwa Corp.		2,450		41,523
Hongkong & Shanghai Hotels Ltd. (The)*		61,500		54,807
Ichibanya Co. Ltd.		1,000		39,203
InterContinental Hotels Group plc		2,911		215,587
J D Wetherspoon plc*		6,583		57,257
Jumbo Interactive Ltd.		3,476		35,978
Just Eat Takeaway.com NV*(b)		3,403		61,192
Kappa Create Co. Ltd.*(a)		4,100		44,526
Kindred Group plc, SDR		5,043		60,713
KOMEDA Holdings Co. Ltd.		1,200		23,269
Kyoritsu Maintenance Co. Ltd.(a)		1,100		43,116
La Francaise des Jeux SAEM(b)		1,897		72,618
Lottery Corp. Ltd. (The)		32,062		111,698
Mandarin Oriental International Ltd.*		8,000		13,440
McDonald’s Holdings Co. Japan Ltd.(a)		1,100		43,356
Melco International Development Ltd.*		41,000		43,162
Melia Hotels International SA*		9,988		73,562
Mitchells & Butlers plc*		22,924		67,839
MOS Food Services, Inc.		2,100		48,332
MTY Food Group, Inc.		1,452		74,053
NagaCorp Ltd.*		40,372		25,314
Ohsho Food Service Corp.		704		33,545
Oriental Land Co. Ltd.		18,000		690,456
Playtech plc*		16,601		119,828
Resorttrust, Inc.		4,100		64,827
Restaurant Brands International, Inc.		4,469		342,751
Restaurant Brands New Zealand Ltd.		1,154		4,661
Round One Corp.		82,000		327,815
Royal Holdings Co. Ltd.(a)		1,600		29,876
Saizeriya Co. Ltd.		1,800		57,264
Sands China Ltd.*		40,400		154,115
Scandic Hotels Group AB*(b)		9,870		38,954
SkiStar AB		2,828		30,763


Investments	Shares		Value ($)
SKYCITY Entertainment Group Ltd.		56,129		78,946
Skylark Holdings Co. Ltd.*		3,700		47,917
Societe des Bains de Mer et du Cercle des Etrangers a Monaco		451		54,698
Sodexo SA		1,394		143,459
SSP Group plc*		43,337		140,291
Star Entertainment Grp Ltd. (The)*		91,143		64,488
Tabcorp Holdings Ltd.		125,870		89,482
Tokyotokeiba Co. Ltd.		1,200		32,517
Toridoll Holdings Corp.		1,100		27,175
Trainline plc*(b)		33,203		112,526
TUI AG*		161,540		1,310,860
Webjet Ltd.*(a)		20,377		108,201
Whitbread plc		2,508		112,910
Wynn Macau Ltd.*		12,800		13,295
Yoshinoya Holdings Co. Ltd.(a)		4,900		96,979
Zensho Holdings Co. Ltd.(a)		1,800		95,967

				9,729,188

Household Durables - 1.3%
Ariston Holding NV		5,411		50,501
Azorim-Investment Development & Construction Co. Ltd.*(a)		5,535		19,308
Barratt Developments plc		22,673		133,230
Bellway plc		2,640		75,272
Berkeley Group Holdings plc		1,312		73,364
Breville Group Ltd.(a)		2,420		36,805
Cairn Homes plc		250,715		306,131
Casio Computer Co. Ltd.(a)		3,600		30,760
Danya Cebus Ltd.(a)		2,870		73,637
De’ Longhi SpA		1,012		25,775
Dom Development SA		2,244		83,028
Duniec Brothers Ltd.*(a)		451		24,103
Electra Consumer Products 1970 Ltd.(a)		656		16,446
Electrolux AB, Class B		3,198		39,566
Fiskars OYJ Abp(a)		574		10,265
Fujitsu General Ltd.		2,100		43,876
GN Store Nord A/S*		2,064		55,315
Haseko Corp.		3,500		45,585
Iida Group Holdings Co. Ltd.(a)		5,400		94,808
JM AB(a)		23,985		377,551
JS Global Lifestyle Co. Ltd.*(a)(b)		22,000		3,893
JVCKenwood Corp.		8,200		27,068
Ki-Star Real Estate Co. Ltd.(a)		3,300		120,313
Man Wah Holdings Ltd.		52,000		44,807
Maytronics Ltd.(a)		2,870		39,278
Nagawa Co. Ltd.(a)		500		25,197
Nikon Corp.		5,800		76,582
Open House Group Co. Ltd.		1,800		68,463
Panasonic Holdings Corp.		49,200		609,459
Persimmon plc		2,091		31,182
Pressance Corp.(a)		8,400		119,544
Redrow plc		105,411		701,192
Rinnai Corp.		1,800		39,223
Sangetsu Corp.		2,256		41,427
SEB SA		616		69,208
Sekisui Chemical Co. Ltd.		10,500		159,554
Sekisui House Ltd.(a)		16,400		334,626


Investments	Shares		Value ($)
SharkNinja, Inc.*		880		37,233
Sony Group Corp.		19,200		1,799,324
Sumitomo Forestry Co. Ltd.		3,300		79,643
Tama Home Co. Ltd.(a)		4,400		108,544
Tamron Co. Ltd.		8,200		259,424
Taylor Wimpey plc		49,487		72,809
Token Corp.(a)		2,600		137,064
Victoria plc*(a)		5,192		43,823
Vistry Group plc		12,177		123,695
YIT OYJ(a)		37,105		89,675
Zojirushi Corp.		5,400		75,976

				6,953,552

Household Products - 0.3%
Earth Corp.		600		21,453
Essity AB, Class A		2,009		49,902
Essity AB, Class B		7,708		191,389
Henkel AG & Co. KGaA		1,148		80,424
Henkel AG & Co. KGaA (Preference)		2,255		174,485
Lion Corp.		8,200		78,462
Pigeon Corp.		2,400		32,432
Reckitt Benckiser Group plc		11,234		843,838
Sano-Brunos Enterprises Ltd.(a)		308		17,697
Unicharm Corp.		8,200		303,979

				1,794,061

Independent Power and Renewable Electricity Producers - 0.3%
Boralex, Inc., Class A		2,081		53,944
Brookfield Renewable Corp., Class A		2,068		64,573
Capital Power Corp.(a)		1,845		57,666
Corp. ACCIONA Energias Renovables SA(a)		1,276		40,264
Doral Group Renewable Energy Resources Ltd.*		34,563		75,463
Drax Group plc		9,389		73,062
EDP Renovaveis SA		3,946		75,571
Electric Power Development Co. Ltd.		3,100		49,092
Encavis AG*		2,296		38,592
Enlight Renewable Energy Ltd.*		1,428		27,627
ERG SpA		704		20,290
Greenvolt-Energias Renovaveis SA*(a)		6,900		48,308
Grenergy Renovables SA*(a)		861		26,049
Innergex Renewable Energy, Inc.		9,635		94,795
Meridian Energy Ltd.		20,828		73,172
Neoen SA(a)(b)		1,514		49,911
Northland Power, Inc.		3,566		69,112
RENOVA, Inc.*		1,000		10,572
RWE AG		10,578		456,364
Scatec ASA(b)		8,405		70,287
Solaria Energia y Medio Ambiente SA*		4,811		75,455
TransAlta Corp.		11,849		121,078
TransAlta Renewables, Inc.(a)		7,380		75,244
Uniper SE*		7,462		46,698
Voltalia SA (Registered)*		2,112		36,792

				1,829,981

Industrial Conglomerates - 1.1%
Aker ASA, Class A		264		16,806


Investments	Shares		Value ($)
Arad Investment & Industrial Development Ltd.		943		117,140
Bonheur ASA		6,191		156,053
Brookfield Business Corp., Class A(a)		9,922		203,302
CK Hutchison Holdings Ltd.		61,356		378,425
DCC plc		2,132		123,743
Hikari Tsushin, Inc.		400		59,319
Hitachi Ltd.		16,400		1,073,249
Investment AB Latour, Class B		2,024		40,836
Italmobiliare SpA		1,024		28,225
Jardine Cycle & Carriage Ltd.		4,100		105,850
Jardine Matheson Holdings Ltd.		5,800		286,404
Keihan Holdings Co. Ltd.		2,500		70,840
Keppel Corp. Ltd.		20,500		113,940
Lifco AB, Class B		4,576		92,456
Nisshinbo Holdings, Inc.		56,700		487,266
Nolato AB, Class B		11,029		45,659
Noritsu Koki Co. Ltd.		4,100		71,075
NWS Holdings Ltd.		44,000		50,383
Siemens AG (Registered)		11,521		1,968,630
Smiths Group plc		5,370		117,389
Storskogen Group AB, Class B(a)		558,871		576,290
TOKAI Holdings Corp.(a)		4,100		26,144
Toshiba Corp.		5,700		184,103

				6,393,527

Industrial REITs - 0.3%
AIMS APAC REIT, REIT		55,165		51,933
ARGAN SA, REIT		533		40,372
CapitaLand Ascendas REIT, REIT		60,035		127,051
Centuria Industrial REIT, REIT(a)		20,824		44,623
CRE Logistics REIT, Inc., REIT		44		54,350
Dream Industrial REIT, REIT(a)		7,093		76,467
ESR-LOGOS REIT, REIT		188,600		49,004
GLP J-REIT, REIT(a)		74		72,969
Goodman Group, REIT		25,707		355,807
Goodman Property Trust, REIT(a)		19,085		26,843
Granite REIT, REIT(a)		484		28,476
Japan Logistics Fund, Inc., REIT(a)		19		40,185
LaSalle Logiport REIT, REIT		44		47,103
LondonMetric Property plc, REIT(a)		63,345		150,617
Mapletree Industrial Trust, REIT		35,086		59,190
Mapletree Logistics Trust, REIT		61,515		78,295
Montea NV, REIT		672		54,605
Nippon Prologis REIT, Inc., REIT		41		83,887
Property for Industry Ltd., REIT		26,697		41,205
Segro plc, REIT		21,566		211,716
Tritax Big Box REIT plc, REIT		33,836		60,122
Urban Logistics REIT plc, REIT(a)		29,257		45,850
Warehouses De Pauw CVA, REIT		3,077		91,192

				1,891,862

Insurance - 4.1%
Admiral Group plc		4,387		120,172
Aegon NV(a)		31,078		169,406
Ageas SA/NV		3,690		156,756
AIA Group Ltd.		179,200		1,778,512
Allianz SE (Registered)		8,733		2,093,251
Alm Brand A/S(a)		57,708		92,291
ASR Nederland NV		3,374		153,599


Investments	Shares		Value ($)
Assicurazioni Generali SpA		26,117		558,053
AUB Group Ltd.		5,876		113,560
Aviva plc		60,639		303,034
AXA SA		43,378		1,337,705
Baloise Holding AG (Registered)		984		153,017
Beazley plc		14,268		100,693
Clal Insurance Enterprises Holdings Ltd.*(a)		4,387		67,081
Coface SA		38,253		561,782
Conduit Holdings Ltd.		58,630		366,243
Dai-ichi Life Holdings, Inc.		20,500		419,220
Definity Financial Corp.		1,025		25,846
Direct Line Insurance Group plc		10,332		20,000
Fairfax Financial Holdings Ltd.(a)		533		426,011
Gjensidige Forsikring ASA		943		14,933
Great-West Lifeco, Inc.		5,912		178,629
Grupo Catalana Occidente SA		704		23,596
Hannover Rueck SE		1,025		219,412
Harel Insurance Investments & Financial Services Ltd.		3,957		31,354
Helvetia Holding AG (Registered)		880		130,754
Hiscox Ltd.		5,060		70,248
iA Financial Corp., Inc.		2,378		165,055
Insurance Australia Group Ltd.		25,707		102,723
Intact Financial Corp.		2,788		412,635
Japan Post Holdings Co. Ltd.		45,100		329,806
Japan Post Insurance Co. Ltd.		4,400		71,181
Just Group plc		366,950		388,568
Lancashire Holdings Ltd.		83,599		642,149
Legal & General Group plc		128,002		384,395
Linea Directa Aseguradora SA Cia de Seguros y Reaseguros(a)		40,084		39,024
Manulife Financial Corp.		38,089		762,793
Mapfre SA		22,440		46,786
Medibank Pvt Ltd.		48,899		115,657
Menora Mivtachim Holdings Ltd.		492		10,539
Migdal Insurance & Financial Holdings Ltd.		142,188		176,588
MS&AD Insurance Group Holdings, Inc.		9,600		357,568
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		3,034		1,146,044
nib holdings Ltd.		11,260		62,825
NN Group NV		5,932		228,127
Phoenix Group Holdings plc		14,350		101,586
Phoenix Holdings Ltd. (The)		5,085		52,451
Poste Italiane SpA(b)		11,425		130,942
Power Corp. of Canada		12,063		342,392
Powszechny Zaklad Ubezpieczen SA		12,439		126,209
Protector Forsikring ASA		4,092		67,145
Prudential plc		41,656		580,184
PSC Insurance Group Ltd.		14,212		45,011
QBE Insurance Group Ltd.(a)		30,996		329,383
Sampo OYJ, Class A		6,683		295,397
SCOR SE		3,124		93,583
Sompo Holdings, Inc.		8,200		363,079
Steadfast Group Ltd.		17,908		70,352
Storebrand ASA		12,259		107,412


Investments	Shares		Value ($)
Sun Life Financial, Inc.		12,546		661,495
Suncorp Group Ltd.		27,306		261,834
Swiss Life Holding AG (Registered)		656		418,339
Swiss Re AG		6,273		657,802
T&D Holdings, Inc.		12,300		200,065
Talanx AG		968		59,447
Tokio Marine Holdings, Inc.		45,100		1,034,494
Topdanmark A/S(a)		880		40,021
Trisura Group Ltd.*		3,061		78,510
Tryg A/S		5,002		99,088
Unipol Gruppo SpA		6,080		33,960
UnipolSai Assicurazioni SpA(a)		11,528		29,716
Wuestenrot & Wuerttembergische AG		7,011		121,670
Zurich Insurance Group AG		2,378		1,154,366

				22,683,554

Interactive Media & Services - 0.2%
Adevinta ASA*		1,107		8,201
Auto Trader Group plc(b)		14,842		123,363
Baltic Classifieds Group plc		16,280		41,474
Better Collective A/S*		2,464		56,749
carsales.com Ltd.(a)		6,842		114,617
Domain Holdings Australia Ltd.(a)		12,956		35,445
Hemnet Group AB		2,993		53,124
Infocom Corp.		1,600		27,140
Kakaku.com, Inc.		1,600		23,908
Karnov Group AB*		5,418		25,679
Moneysupermarket.com Group plc		29,179		103,018
New Work SE		159		18,758
REA Group Ltd.(a)		1,056		112,096
Rightmove plc		13,244		97,198
Scout24 SE(b)		1,232		81,745
SEEK Ltd.(a)		5,397		90,556
Wirtualna Polska Holding SA(b)		1,107		32,146
Z Holdings Corp.		39,500		110,037

				1,155,254

IT Services - 1.2%
Addnode Group AB, Class B		9,676		74,176
Adesso SE		220		25,760
Alten SA		616		88,971
Atea ASA		2,420		32,916
Atos SE*		40,590		422,822
Bechtle AG		1,364		60,200
BIPROGY, Inc.		1,100		26,989
CANCOM SE		1,981		57,225
Capgemini SE		2,378		432,214
CGI, Inc.*		3,239		329,744
Change Holdings, Inc.(a)		3,500		46,263
Computacenter plc		1,092		30,826
Data#3 Ltd.		12,760		64,573
Digital Garage, Inc.		1,300		37,834
DTS Corp.		2,100		49,588
Econocom Group SA/NV		35,152		101,737
FDM Group Holdings plc		5,818		40,872
Formula Systems 1985 Ltd.		389		28,339
Fujitsu Ltd.		2,600		336,437
Future Corp.		3,400		37,068
GFT Technologies SE		924		26,875
GMO internet group, Inc.		1,200		23,822


Investments	Shares		Value ($)
Indra Sistemas SA(a)		46,740		681,269
Itochu Techno-Solutions Corp.		2,400		60,845
Kainos Group plc		4,469		75,326
Keywords Studios plc		4,346		98,527
KNOW IT AB		1,144		16,201
Kontron AG		3,168		69,124
Matrix IT Ltd.		12,013		241,004
Megaport Ltd.*(a)		10,561		72,589
NEC Corp.		4,100		207,280
NEC Networks & System Integration Corp.(a)		2,400		31,655
NET One Systems Co. Ltd.		2,300		50,523
Netcompany Group A/S*(a)(b)		1,886		87,809
NEXTDC Ltd.*		12,078		103,769
Nomura Research Institute Ltd.		6,445		182,853
NS Solutions Corp.		800		21,002
NTT Data Group Corp.		9,800		136,261
Obic Co. Ltd.		800		131,025
One Software Technologies Ltd.		123		1,638
Otsuka Corp.		2,500		104,114
Reply SpA		484		52,616
SCSK Corp.		2,700		44,896
Secunet Security Networks AG		123		28,275
SHIFT, Inc.*		300		70,946
Shopify, Inc., Class A*		18,040		1,220,895
Simplex Holdings, Inc.		4,100		82,704
Societe pour l’Informatique Industrielle		656		38,478
Softcat plc		369		7,122
Sopra Steria Group SACA		396		86,318
SUNeVision Holdings Ltd.		90,000		46,623
TechMatrix Corp.		3,300		36,233
TietoEVRY OYJ		2,254		57,655
TIS, Inc.		4,600		116,651

				6,637,477

Leisure Products - 0.5%
Bandai Namco Holdings, Inc.		8,700		196,803
Beneteau SA		13,817		226,376
BRP, Inc.		12,833		1,182,732
Games Workshop Group plc		684		102,528
MIPS AB(b)		1,517		68,808
Mizuno Corp.		8,200		214,985
Sanlorenzo SpA(a)		984		38,297
Sega Sammy Holdings, Inc.		2,600		56,875
Shimano, Inc.		1,100		166,843
Spin Master Corp.(b)		1,936		51,715
Technogym SpA(b)		4,905		45,400
Thule Group AB(b)		2,024		63,258
Tomy Co. Ltd.		4,600		62,292
Universal Entertainment Corp.(a)		300		5,424
Yamaha Corp.		2,800		108,390
Yonex Co. Ltd.		5,600		54,707

				2,645,433

Life Sciences Tools & Services - 0.4%
AddLife AB, Class B		6,847		55,845
Bachem Holding AG		328		30,403
Biotage AB		3,690		45,513
Chemometec A/S*		902		60,665
Eurofins Scientific SE(a)		2,050		141,445


Investments	Shares		Value ($)
Evotec SE*		3,042		80,394
Gerresheimer AG		574		68,159
Lonza Group AG (Registered)		1,148		669,054
Oxford Nanopore Technologies plc*(a)		35,096		119,122
QIAGEN NV*		3,549		166,887
Sartorius AG (Preference)		410		169,653
Sartorius Stedim Biotech		410		128,607
Siegfried Holding AG (Registered)		88		78,117
SKAN Group AG		451		41,518
Tecan Group AG (Registered)		220		87,914
Wuxi Biologics Cayman, Inc.*(b)		57,500		325,150

				2,268,446

Machinery - 3.5%
Aalberts NV		1,454		65,775
Alfa Laval AB		4,920		184,439
Alstom SA		6,601		202,472
Amada Co. Ltd.		7,200		70,819
ANDRITZ AG		1,517		80,384
Atlas Copco AB, Class A		36,941		526,297
Atlas Copco AB, Class B		25,871		319,956
ATS Corp.*		1,476		67,058
AutoStore Holdings Ltd.*(a)(b)		15,006		37,513
Beijer Alma AB		2,304		42,232
Bodycote plc		11,283		100,460
Bucher Industries AG (Registered)		82		36,703
Burckhardt Compression Holding AG		132		78,117
Bystronic AG(a)		55		38,767
Cargotec OYJ, Class B		684		32,745
CKD Corp.(a)		4,100		62,273
CNH Industrial NV		20,213		292,167
Concentric AB		902		16,139
Construcciones y Auxiliar de Ferrocarriles SA		6,273		214,405
Daetwyler Holding AG		176		35,003
Daifuku Co. Ltd.		6,900		147,392
Daimler Truck Holding AG		11,726		441,508
Danieli & C Officine Meccaniche SpA(a)		4,305		106,796
Danieli & C Officine Meccaniche SpA (Retirement Savings Plan)		13,899		267,870
DMG Mori Co. Ltd.		2,100		35,672
Duerr AG		3,321		103,915
Ebara Corp.(a)		1,100		51,903
Electrolux Professional AB, Class B		13,038		73,581
Epiroc AB, Class A		11,685		233,644
Epiroc AB, Class B		3,444		58,605
FANUC Corp.		15,500		474,338
FLSmidth & Co. A/S(a)		2,870		136,297
Fluidra SA		912		20,231
Fuji Corp.		1,000		18,296
Fujitec Co. Ltd.(a)		2,400		61,689
GEA Group AG		3,034		129,089
Georg Fischer AG (Registered)		1,554		106,576
Giken Ltd.(a)		1,200		17,711
Glory Ltd.		4,200		86,377
Harmonic Drive Systems, Inc.		1,500		41,280
Hitachi Construction Machinery Co. Ltd.		2,800		83,894


Investments	Shares		Value ($)
Hitachi Zosen Corp.		61,500		404,719
Hoshizaki Corp.		2,400		92,027
Husqvarna AB, Class B		7,480		73,572
IHI Corp.		2,500		61,444
IMI plc		3,784		79,311
Indutrade AB(a)		5,016		105,452
Interpump Group SpA		1,584		86,414
Iveco Group NV*		71,832		683,165
Japan Steel Works Ltd. (The)(a)		900		18,718
Jungheinrich AG (Preference)		3,036		113,944
Kardex Holding AG (Registered)		264		66,240
Kawasaki Heavy Industries Ltd.		2,800		71,379
KION Group AG		1,419		59,639
Kitz Corp.(a)		28,700		213,513
Komatsu Ltd.		20,500		571,945
Komax Holding AG (Registered)		258		63,693
Kone OYJ, Class B		5,740		295,168
Konecranes OYJ		1,394		50,781
Krones AG		246		29,727
KSB SE & Co. KGaA (Preference)		287		182,265
Kubota Corp.		16,400		247,535
Kurita Water Industries Ltd.		2,500		100,454
Kyokuto Kaihatsu Kogyo Co. Ltd.(a)		12,300		157,819
Makino Milling Machine Co. Ltd.(a)		8,200		328,392
Makita Corp.		4,600		129,084
Manitou BF SA		4,059		117,475
Max Co. Ltd.		2,800		52,421
Meidensha Corp.		16,400		244,361
METAWATER Co. Ltd.		4,100		52,866
Metso OYJ		12,669		144,222
MINEBEA MITSUMI, Inc.		7,311		135,229
MISUMI Group, Inc.		4,100		74,869
Mitsubishi Heavy Industries Ltd.		8,200		388,473
Mitsubishi Logisnext Co. Ltd.		4,300		38,648
Mitsuboshi Belting Ltd.(a)		1,300		41,174
Miura Co. Ltd.		2,100		52,943
Morgan Advanced Materials plc		19,516		68,551
Morita Holdings Corp.		16,400		178,682
Nabtesco Corp.		2,900		61,437
Nachi-Fujikoshi Corp.(a)		8,200		221,333
NGK Insulators Ltd.(a)		4,100		50,269
Nikkiso Co. Ltd.		4,100		26,116
Nitta Corp.		8,200		187,282
Noritake Co. Ltd.		4,100		159,868
NTN Corp.(a)		184,500		413,852
OC Oerlikon Corp. AG (Registered)		63,837		348,624
Organo Corp.		8,200		237,493
OSG Corp.		1,600		21,301
Palfinger AG		787		23,124
Pfeiffer Vacuum Technology AG		220		36,530
Rational AG		55		41,266
Rotork plc		13,640		54,124
Sandvik AB		14,719		299,493
Schindler Holding AG		658		160,316
Schindler Holding AG (Registered)		123		28,606
Seatrium Ltd.*		649,543		68,975
SFS Group AG		220		26,242
Shibaura Machine Co. Ltd.		8,200		262,021
Shibuya Corp.		8,200		151,672


Investments	Shares		Value ($)
Shima Seiki Manufacturing Ltd.		4,100		56,040
Shinmaywa Industries Ltd.		20,500		206,905
SKF AB, Class A(a)		1,408		27,068
SKF AB, Class B		5,904		112,714
SMC Corp.		900		469,700
Spirax-Sarco Engineering plc		1,148		164,324
Stabilus SE		1,516		86,665
Stadler Rail AG(a)		1,056		42,710
Star Micronics Co. Ltd.		12,300		153,144
Sulzer AG (Registered)		697		68,747
Sumitomo Heavy Industries Ltd.		3,300		81,130
Tadano Ltd.		8,900		69,719
Takeuchi Manufacturing Co. Ltd.		4,100		128,269
Takuma Co. Ltd.		28,900		316,094
Techtronic Industries Co. Ltd.		26,500		299,194
THK Co. Ltd.(a)		1,700		34,041
Tocalo Co. Ltd.		3,800		38,620
TOMRA Systems ASA		3,872		59,746
Toyota Industries Corp.		4,100		296,073
Trelleborg AB, Class B		4,682		124,898
Troax Group AB		1,806		32,588
Tsubakimoto Chain Co.		10,400		277,055
Tsugami Corp.		20,500		179,635
Union Tool Co.		500		11,578
Valmet OYJ(a)		3,228		85,808
VAT Group AG(b)		451		192,554
Vesuvius plc		78,597		446,981
Volvo AB, Class A		3,212		72,937
Volvo AB, Class B		34,850		769,635
Wacker Neuson SE		10,537		274,175
Wartsila OYJ Abp		5,720		72,053
Weir Group plc (The)		3,920		92,551
Yaskawa Electric Corp.(a)		4,100		178,076

				19,478,073

Marine Transportation - 0.7%
AP Moller - Maersk A/S, Class A		65		131,071
AP Moller - Maersk A/S, Class B		123		253,577
Clarkson plc		1,408		50,544
D/S Norden A/S		8,241		414,287
Dfds A/S		11,726		421,555
Golden Ocean Group Ltd.		4,796		37,604
Gram Car Carriers ASA(a)		4,879		77,261
Hoegh Autoliners ASA		16,728		96,980
Iino Kaiun Kaisha Ltd.(a)		36,900		238,416
Irish Continental Group plc		7,708		40,963
Kawasaki Kisen Kaisha Ltd.(a)		6,000		180,828
Kuehne + Nagel International AG (Registered)		820		257,678
Mitsui OSK Lines Ltd.(a)		9,300		240,551
MPC Container Ships ASA		117,342		219,570
Nippon Yusen KK(a)		12,300		298,497
NS United Kaiun Kaisha Ltd.(a)		4,100		110,522
Odfjell SE, Class A(a)		12,054		110,335
Pacific Basin Shipping Ltd.		1,845,000		598,542
SITC International Holdings Co. Ltd.		24,000		52,316
Stolt-Nielsen Ltd.		1,435		35,533
Wallenius Wilhelmsen ASA		2,952		20,543


Investments	Shares		Value ($)
Wilh Wilhelmsen Holding ASA, Class A		5,453		149,309
Wilh Wilhelmsen Holding ASA, Class B		2,091		54,153

				4,090,635

Media - 1.0%
4imprint Group plc		1,517		86,565
Ascential plc*		26,292		70,769
Atresmedia Corp. de Medios de Comunicacion SA(a)		33,661		139,842
Cogeco Communications, Inc.(a)		5,740		291,350
CyberAgent, Inc.(a)		6,300		39,814
Dentsu Group, Inc.(a)		4,100		137,128
Eutelsat Communications SA(a)		57,072		385,414
Future plc		40,631		438,350
Hakuhodo DY Holdings, Inc.(a)		4,700		54,020
Informa plc(a)		19,680		191,986
IPSOS		13,571		680,205
ITV plc		35,424		32,971
JCDecaux SE*		968		18,197
Kadokawa Corp.		2,200		54,520
Lagardere SA(a)		1,722		39,586
Metropole Television SA		24,518		347,365
MFE-MediaForEurope NV, Class A		397,700		211,086
MFE-MediaForEurope NV, Class B(a)		107,794		83,432
Next 15 Group plc		5,104		41,701
Nine Entertainment Co. Holdings Ltd.(a)		34,440		49,664
oOh!media Ltd.		47,520		44,670
ProSiebenSat.1 Media SE		63,427		633,019
Publicis Groupe SA		3,813		308,659
Quebecor, Inc., Class B(a)		2,728		66,902
RTL Group SA(a)		1,056		45,780
S4 Capital plc*(a)		22,509		30,583
Sanoma OYJ		3,895		30,920
Schibsted ASA, Class A		2,870		61,590
SES SA, Class A, ADR		25,666		166,676
SKY Perfect JSAT Holdings, Inc.(a)		48,100		200,755
Stroeer SE & Co. KGaA		620		30,091
Television Francaise 1(a)		31,324		256,950
TV Asahi Holdings Corp.		8,400		105,946
TX Group AG		205		23,412
Viaplay Group AB, Class B*		1,188		5,169
Vivendi SE		11,795		105,623
WPP plc		22,796		249,778
YouGov plc		4,715		58,846

				5,819,334

Metals & Mining - 5.0%
Acerinox SA		70,356		742,510
Agnico Eagle Mines Ltd.		7,733		406,140
Alamos Gold, Inc., Class A		3,999		49,492
Alleima AB		77,572		337,308
Allkem Ltd.*		8,316		83,047
Alumina Ltd.(a)		7,667		7,388
AMG Critical Materials NV		11,480		470,597
Anglo American plc		28,864		889,081
Antofagasta plc		5,371		115,925
Aperam SA		1,615		51,139


Investments	Shares		Value ($)
ArcelorMittal SA		11,439		331,697
ARE Holdings, Inc.(a)		28,700		385,414
Aurubis AG		738		69,602
AVZ Minerals Ltd.*‡(a)		111,012		19,449
Aya Gold & Silver, Inc.*		5,002		31,922
B2Gold Corp.		27,675		96,087
Barrick Gold Corp.		26,978		468,096
Bekaert SA		12,423		594,723
Bellevue Gold Ltd.*		49,941		48,796
BHP Group Ltd.		109,347		3,390,177
BlueScope Steel Ltd.		10,209		150,245
Boliden AB		5,863		173,030
Capricorn Metals Ltd.*(a)		19,272		57,790
Capstone Copper Corp.*		7,626		39,919
Centamin plc		422,751		524,079
Centerra Gold, Inc.		17,010		109,329
Chalice Mining Ltd.*(a)		6,068		24,166
Champion Iron Ltd.		6,468		26,064
Chubu Steel Plate Co. Ltd.(a)		8,200		120,853
Core Lithium Ltd.*(a)		98,236		42,366
De Grey Mining Ltd.*		86,240		77,581
Deterra Royalties Ltd.(a)		29,807		94,402
Dowa Holdings Co. Ltd.		1,100		35,521
Dundee Precious Metals, Inc.		69,618		485,012
Eldorado Gold Corp.*		9,840		96,662
Emerald Resources NL*		21,402		32,737
Endeavour Mining plc		3,344		80,888
Equinox Gold Corp.*(a)		14,247		74,902
Eramet SA		3,813		321,608
ERO Copper Corp.*		4,268		102,789
Evolution Mining Ltd.(a)		35,786		89,223
Falcon Metals Ltd.*		1		—	(d)
Ferrexpo plc*		106,641		125,958
Filo Corp.*		4,428		83,901
First Majestic Silver Corp.(a)		14,596		97,584
First Quantum Minerals Ltd.		9,143		271,668
Fortescue Metals Group Ltd.		37,802		552,252
Fortuna Silver Mines, Inc.*		9,512		33,965
Franco-Nevada Corp.		2,958		432,424
Fresnillo plc		3,872		30,798
Glencore plc		220,539		1,343,729
Gold Road Resources Ltd.(a)		59,159		62,786
Granges AB		39,073		399,748
Grupa Kety SA*		308		53,433
Hill & Smith plc		3,280		66,595
Hudbay Minerals, Inc.(a)		103,525		618,201
IAMGOLD Corp.*		25,911		70,868
IGO Ltd.(a)		10,332		96,079
Iluka Resources Ltd.		9,909		68,241
Imdex Ltd.		25,872		34,170
Ivanhoe Mines Ltd., Class A*		10,250		108,866
Jastrzebska Spolka Weglowa SA*		19,639		201,080
JFE Holdings, Inc.		12,300		198,853
K92 Mining, Inc.*(a)		16,544		78,305
KGHM Polska Miedz SA		1,476		45,836
Kinross Gold Corp.		22,985		114,729
Kobe Steel Ltd.		11,000		120,158
Kyoei Steel Ltd.(a)		8,200		123,335
Labrador Iron Ore Royalty Corp.		23,206		558,178


Investments	Shares		Value ($)
Liontown Resources Ltd.*		27,470		49,794
Lithium Americas Corp.*(a)		2,508		50,722
Lundin Gold, Inc.		6,342		85,186
Lundin Mining Corp.		12,726		113,990
Lynas Rare Earths Ltd.*(a)		13,899		63,032
MAG Silver Corp.*		4,656		56,314
Maruichi Steel Tube Ltd.		2,000		47,382
Mineral Resources Ltd.(a)		2,952		142,089
Mitsubishi Materials Corp.		4,100		73,326
Mitsui Mining & Smelting Co. Ltd.		20,500		484,509
Newcrest Mining Ltd.		14,350		255,378
Nickel Industries Ltd.		729,800		405,715
Nippon Light Metal Holdings Co. Ltd.		20,500		218,880
Nippon Steel Corp.		20,215		461,838
Nittetsu Mining Co. Ltd.(a)		4,100		146,593
Norsk Hydro ASA		29,930		196,447
Northern Star Resources Ltd.		17,556		136,165
Novagold Resources, Inc.*		7,749		34,970
OceanaGold Corp.		249,854		523,910
Orla Mining Ltd.*(a)		10,780		50,450
OSAKA Titanium Technologies Co. Ltd.(a)		1,300		32,756
Osisko Gold Royalties Ltd.(a)		9,030		134,121
Osisko Mining, Inc.*		17,794		42,449
Outokumpu OYJ(a)		7,392		38,370
Pan American Silver Corp.(a)		6,800		115,309
Perseus Mining Ltd.		37,802		44,195
Pilbara Minerals Ltd.		35,307		115,151
Regis Resources Ltd.(a)		40,098		45,259
Resolute Mining Ltd.*		109,347		26,526
Rio Tinto Ltd.		8,159		643,644
Rio Tinto plc		23,370		1,548,554
Salzgitter AG		13,899		482,717
Sandfire Resources Ltd.*(a)		11,931		54,188
Sandstorm Gold Ltd.		13,772		76,903
Sanyo Special Steel Co. Ltd.		8,600		172,569
Sayona Mining Ltd.*		407,175		39,784
Seabridge Gold, Inc.*		5,588		71,323
Silver Lake Resources Ltd.*		2,337		1,402
SilverCrest Metals, Inc.*(a)		9,416		54,010
Sims Ltd.		3,192		32,479
South32 Ltd.		102,254		267,347
SSAB AB, Class A		6,150		39,086
SSAB AB, Class B		12,333		75,518
SSR Mining, Inc.		3,864		56,393
Stelco Holdings, Inc.		12,464		455,285
Straits Trading Co. Ltd.		53,300		84,699
Sumitomo Metal Mining Co. Ltd.		5,900		204,058
Teck Resources Ltd., Class B		9,922		441,581
thyssenkrupp AG		8,316		66,290
Toho Titanium Co. Ltd.(a)		1,700		24,253
Tokyo Steel Manufacturing Co. Ltd.(a)		4,100		49,576
UACJ Corp.(a)		11,100		222,109
voestalpine AG(a)		1,880		62,391
Vulcan Energy Resources Ltd.*		6,732		20,141
Wesdome Gold Mines Ltd.*		8,888		47,335
West African Resources Ltd.*		352,231		212,429
Wheaton Precious Metals Corp.		6,929		311,272
Yamato Kogyo Co. Ltd.		1,300		62,118


Investments	Shares		Value ($)
Yodogawa Steel Works Ltd.(a)		11,100		266,016
Zimplats Holdings Ltd.		2,255		40,116

				27,715,908

Multi-Utilities - 0.7%
A2A SpA		29,479		56,407
ACEA SpA		1,552		19,062
AGL Energy Ltd.		12,344		101,396
Algonquin Power & Utilities Corp.(a)		11,661		96,389
Atco Ltd., Class I		1,968		56,278
Canadian Utilities Ltd., Class A(a)		1,628		40,618
Centrica plc		133,045		236,317
E.ON SE		51,127		648,538
Engie SA		40,426		664,653
Hera SpA		19,272		60,005
Iren SpA		221,523		449,646
National Grid plc		59,901		794,994
REN - Redes Energeticas Nacionais SGPS SA		17,917		49,090
Sembcorp Industries Ltd.		16,300		66,904
Telecom Plus plc		4,728		101,226
Veolia Environnement SA		14,924		487,052

				3,928,575

Office REITs - 0.4%
Allied Properties REIT, REIT		23,616		393,645
Centuria Office REIT, REIT		196,759		192,250
Champion REIT, REIT		108,000		39,745
CLS Holdings plc, REIT		14,403		25,907
Covivio SA, REIT		1,804		87,397
Cromwell Property Group, REIT(a)		610,900		226,410
Derwent London plc, REIT		2,870		78,137
Dexus, REIT(a)		14,476		80,183
Gecina SA, REIT		1,148		124,484
Global One Real Estate Investment Corp., REIT(a)		48		39,696
Great Portland Estates plc, REIT		6,806		37,445
Ichigo Office REIT Investment Corp., REIT		41		25,567
Japan Excellent, Inc., REIT(a)		41		38,062
Japan Prime Realty Investment Corp., REIT		13		32,390
Japan Real Estate Investment Corp., REIT(a)		24		96,622
Kenedix Office Investment Corp., REIT		18		42,821
Keppel REIT, REIT		69,733		47,791
Mirai Corp., REIT		88		28,398
Mori Hills REIT Investment Corp., REIT(a)		16		16,295
Nippon Building Fund, Inc., REIT(a)		24		100,676
One REIT, Inc., REIT(a)		14		25,551
Orix JREIT, Inc., REIT		49		62,388
Precinct Properties New Zealand Ltd., REIT(a)		103,566		86,691
Workspace Group plc, REIT		8,954		57,212

				1,985,763

Oil, Gas & Consumable Fuels - 6.3%
Advantage Energy Ltd.*		55,227		390,208
Africa Oil Corp.(a)		148,200		351,289


Investments	Shares		Value ($)
Aker BP ASA(a)		6,319		176,956
Ampol Ltd.		5,494		121,615
ARC Resources Ltd.		15,047		227,720
Athabasca Oil Corp.*		215,127		555,694
Baytex Energy Corp.*		244,237		987,154
Beach Energy Ltd.		39,336		42,808
Birchcliff Energy Ltd.(a)		93,398		559,146
Bluenord ASA*(a)		9,635		423,820
Boss Energy Ltd.*(a)		21,197		41,565
BP plc		397,659		2,471,260
BRIGHTOIL*‡		50,147		—
BW Energy Ltd.*		31,577		93,640
BW LPG Ltd.(b)		29,766		319,242
Cameco Corp.		6,765		238,272
Canadian Natural Resources Ltd.		24,354		1,483,721
Cardinal Energy Ltd.(a)		41,615		227,005
Cenovus Energy, Inc.(a)		29,725		566,384
Cool Co. Ltd.		11,111		151,566
Cosmo Energy Holdings Co. Ltd.		1,600		49,561
Crescent Point Energy Corp.		12,474		101,308
CropEnergies AG		9,881		99,574
Denison Mines Corp.*		53,196		69,513
Diversified Energy Co. plc(a)(b)		342,801		418,130
DNO ASA(a)		305,573		332,562
Enbridge, Inc.		30,873		1,137,112
ENEOS Holdings, Inc.		57,400		208,220
Energean plc		4,182		62,309
Energy Fuels, Inc.*(a)		10,296		66,098
Enerplus Corp.		5,535		92,765
Eni SpA		54,161		829,086
Equinor ASA(a)		23,001		701,182
Equital Ltd.*(a)		6,519		197,155
Etablissements Maurel et Prom SA		20,951		99,051
Euronav NV		2,829		46,444
FLEX LNG Ltd.		1,176		37,338
Freehold Royalties Ltd.(a)		5,060		53,550
Frontera Energy Corp.*		18,573		151,124
Galp Energia SGPS SA		11,726		156,435
Gaztransport Et Technigaz SA		410		50,132
Gibson Energy, Inc.(a)		7,503		122,385
Hafnia Ltd.		7,872		42,914
Harbour Energy plc		13,992		47,977
Headwater Exploration, Inc.(a)		66,625		376,086
Idemitsu Kosan Co. Ltd.		5,882		124,198
Imperial Oil Ltd.(a)		4,346		234,560
Inpex Corp.		22,500		290,197
International Petroleum Corp.*		30,463		285,594
Itochu Enex Co. Ltd.		20,600		202,259
Iwatani Corp.		1,397		74,609
Japan Petroleum Exploration Co. Ltd.		1,700		58,390
Karoon Energy Ltd.*		198,604		298,439
Keyera Corp.(a)		3,108		77,945
Koninklijke Vopak NV		1,558		58,868
MEG Energy Corp.*(a)		4,928		88,021
Naphtha Israel Petroleum Corp. Ltd.		10,742		53,305
Neste OYJ(a)		6,355		234,444
New Hope Corp. Ltd.		17,010		60,864
NexGen Energy Ltd.*		22,550		110,844
NuVista Energy Ltd.*		60,762		525,796


Investments	Shares		Value ($)
GB Oil Refineries Ltd.		691,465		221,766
Okeanis Eco Tankers Corp.(b)		4,920		119,638
OMV AG		2,829		127,884
ORLEN SA*		12,091		216,389
Paladin Energy Ltd.*		151,044		74,809
Paramount Resources Ltd., Class A		2,772		65,644
Parex Resources, Inc.		37,925		841,625
Parkland Corp.		3,977		108,803
Paz Oil Co. Ltd.*(a)		575		62,749
Pembina Pipeline Corp.		8,364		265,297
Peyto Exploration & Development Corp.(a)		62,853		543,413
PrairieSky Royalty Ltd.(a)		3,977		79,193
Repsol SA		28,249		432,929
San-Ai Obbli Co. Ltd.(a)		20,500		233,164
Santos Ltd.		69,495		372,760
Saras SpA(a)		202,868		290,662
Serica Energy plc		101,434		312,180
Shell plc		153,463		4,671,742
Spartan Delta Corp.		8,979		29,606
Strike Energy Ltd.*		129,355		38,789
Suncor Energy, Inc.		27,716		868,803
Tamarack Valley Energy Ltd.(a)		153,627		421,344
TC Energy Corp.(a)		15,826		568,233
Topaz Energy Corp.		3,731		60,801
TORM plc, Class A		9,799		241,811
TotalEnergies SE		51,086		3,112,512
Tourmaline Oil Corp.(a)		6,658		345,685
United Energy Group Ltd.		358,000		44,987
Var Energi ASA(a)		7,339		22,416
VERBIO Vereinigte BioEnergie AG		1,107		54,069
Vermilion Energy, Inc.(a)		57,769		806,681
Viva Energy Group Ltd.(b)		17,630		37,422
Whitecap Resources, Inc.		12,558		100,464
Whitehaven Coal Ltd.		16,702		77,882
Woodside Energy Group Ltd.(a)		41,903		1,072,696

				34,700,257

Paper & Forest Products - 0.5%
Altri SGPS SA(a)		21,115		99,454
Canfor Corp.*		21,279		336,422
Daiken Corp.		8,200		135,339
Daio Paper Corp.(a)		3,745		32,197
Ence Energia y Celulosa SA(a)		11,726		35,786
Hokuetsu Corp.(a)		61,600		373,294
Holmen AB, Class B		1,540		59,431
Interfor Corp.*(a)		2,378		42,637
Metsa Board OYJ, Class B(a)		3,813		30,837
Mondi plc		12,382		217,542
Navigator Co. SA (The)		5,269		18,520
Nippon Paper Industries Co. Ltd.*		41,000		398,515
Oji Holdings Corp.		12,300		48,566
Semapa-Sociedade de Investimento e Gestao		4,873		70,920
Stella-Jones, Inc.		2,706		137,659
Stora Enso OYJ, Class A(a)		2,501		32,400
Stora Enso OYJ, Class R		10,209		125,560
Svenska Cellulosa AB SCA, Class A		2,068		27,475
Svenska Cellulosa AB SCA, Class B		6,314		84,006

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund (cont.)


Investments	Shares		Value ($)
UPM-Kymmene OYJ		8,364		277,574
West Fraser Timber Co. Ltd.		1,271		107,281

				2,691,415

Passenger Airlines - 0.2%
Air Canada*		5,192		95,852
Air France-KLM*(a)		36,777		63,681
Air New Zealand Ltd.*		11,968		5,884
ANA Holdings, Inc.*		2,400		57,534
Deutsche Lufthansa AG (Registered)*		11,748		118,881
easyJet plc*		6,806		39,608
Exchange Income Corp.(a)		2,255		88,041
Finnair OYJ*(a)		82,324		51,147
Japan Airlines Co. Ltd.		2,800		60,619
JET2 plc		4,018		58,108
Norwegian Air Shuttle ASA*		167,034		167,422
Qantas Airways Ltd.*		22,968		101,065
Singapore Airlines Ltd.		16,799		95,268
Wizz Air Holdings plc*(b)		1,394		42,562

				1,045,672

Personal Care Products - 1.0%
Beiersdorf AG		1,640		213,004
Best World International Ltd.*		57,400		70,032
Blackmores Ltd.		1,320		84,260
euglena Co. Ltd.*(a)		4,400		27,252
Fancl Corp.		400		7,010
Haleon plc		76,506		331,042
Interparfums SA		159		11,500
Jamieson Wellness, Inc.(b)		2,330		53,778
Kao Corp.(a)		7,500		285,156
Kobayashi Pharmaceutical Co. Ltd.		900		49,523
Kose Corp.		700		68,581
L’Occitane International SA(a)		4,500		13,791
L’Oreal SA		3,895		1,817,404
Mandom Corp.		4,100		41,208
Milbon Co. Ltd.		1,000		36,001
Noevir Holdings Co. Ltd.		1,000		38,147
Pola Orbis Holdings, Inc.		2,000		29,364
PZ Cussons plc		17,220		36,735
Rohto Pharmaceutical Co. Ltd.(a)		4,100		87,437
Shiseido Co. Ltd.		6,400		280,630
Unilever plc		40,303		2,173,460

				5,755,315

Pharmaceuticals - 4.7%
ALK-Abello A/S, Class B*(a)		7,913		86,396
Almirall SA		4,564		43,930
Astellas Pharma, Inc.		28,700		420,259
AstraZeneca plc		24,026		3,457,934
Bausch Health Cos., Inc.*(a)		102,869		1,001,923
Bayer AG (Registered)		20,664		1,210,694
Camurus AB*		1,435		40,643
Chugai Pharmaceutical Co. Ltd.		9,300		276,945
COSMO Pharmaceuticals NV		741		38,296
Daiichi Sankyo Co. Ltd.		29,800		911,744
Dechra Pharmaceuticals plc		2,142		102,358
Eisai Co. Ltd.		4,500		284,290
Euroapi SA*		3,444		40,288
Faes Farma SA		17,897		62,157
Financiere de Tubize SA		510		40,036


Investments	Shares		Value ($)
GSK plc		59,409		1,058,369
H Lundbeck A/S, Class A		5,650		25,394
Haw Par Corp. Ltd.		8,200		59,348
Hikma Pharmaceuticals plc		3,884		104,395
Hutchmed China Ltd.*(a)		27,388		78,670
Indivior plc*		7,626		172,004
Ipsen SA		770		97,291
JCR Pharmaceuticals Co. Ltd.(a)		2,400		22,804
Kaken Pharmaceutical Co. Ltd.(a)		1,500		37,384
Kissei Pharmaceutical Co. Ltd.		1,400		29,659
Kyowa Kirin Co. Ltd.		4,300		82,199
Laboratorios Farmaceuticos Rovi SA		1,435		69,077
Merck KGaA		2,091		368,408
Mochida Pharmaceutical Co. Ltd.		900		20,935
Nippon Shinyaku Co. Ltd.(a)		1,400		56,698
Novartis AG (Registered)		37,146		3,902,505
Novo Nordisk A/S, Class B		24,969		4,034,610
Ono Pharmaceutical Co. Ltd.		8,200		150,143
Orion OYJ, Class A		352		13,758
Orion OYJ, Class B		1,855		71,460
Otsuka Holdings Co. Ltd.		8,300		305,233
Recordati Industria Chimica e Farmaceutica SpA		1,628		84,273
Roche Holding AG		451		150,359
Roche Holding AG - BR		10,742		3,353,274
Sanofi		17,548		1,878,453
Santen Pharmaceutical Co. Ltd.		4,500		39,337
Sawai Group Holdings Co. Ltd.(a)		16,400		409,192
Shionogi & Co. Ltd.		4,400		183,705
Sumitomo Pharma Co. Ltd.		3,600		14,934
Taisho Pharmaceutical Holdings Co. Ltd.		600		23,171
Takeda Pharmaceutical Co. Ltd.		24,600		751,609
Teva Pharmaceutical Industries Ltd.*		20,746		174,127
Torii Pharmaceutical Co. Ltd.(a)		800		20,327
Towa Pharmaceutical Co. Ltd.(a)		9,400		119,022
Tsumura & Co.		900		16,758
UCB SA		2,173		192,913
Vetoquinol SA		308		31,344
Virbac SA(a)		132		40,750
ZERIA Pharmaceutical Co. Ltd.		1,800		29,480

				26,291,265

Professional Services - 1.6%
Adecco Group AG (Registered)		2,378		97,139
AFRY AB		2,640		36,707
ALS Ltd.		8,712		68,921
APM Human Services International Ltd.(a)		104,468		140,088
Applus Services SA		50,840		547,084
Arcadis NV		1,189		52,306
BayCurrent Consulting, Inc.		1,400		45,208
Bell System24 Holdings, Inc.(a)		13,500		131,978
Benefit One, Inc.		1,000		10,322
Bureau Veritas SA		5,863		161,477
Computershare Ltd.		8,897		150,361
Danel Adir Yeoshua Ltd.(a)		533		42,219
dip Corp.		1,400		35,325
DKSH Holding AG		660		53,487

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund (cont.)


Investments	Shares		Value ($)
en Japan, Inc.		2,000		39,513
Experian plc		14,883		576,200
Funai Soken Holdings, Inc.(a)		2,700		50,074
GlobalData plc		17,914		37,455
Hays plc		610,490		840,471
Hilan Ltd.		1,025		50,388
Infomart Corp.		17,600		52,399
Insource Co. Ltd.(a)		3,800		33,539
Intertek Group plc		2,214		124,258
IPH Ltd.		13,904		74,017
JAC Recruitment Co. Ltd.		1,300		25,811
Link Administration Holdings Ltd.		189,830		195,713
Majorel Group Luxembourg SA(a)		1,189		38,148
McMillan Shakespeare Ltd.		3,198		42,647
Meitec Corp.		2,400		43,708
Nihon M&A Center Holdings, Inc.(a)		4,800		27,466
Nomura Co. Ltd.		6,000		38,133
Open Up Group, Inc.(a)		4,400		68,936
Outsourcing, Inc.		36,900		376,713
Pagegroup plc		22,468		128,932
Persol Holdings Co. Ltd.		4,200		83,007
Randstad NV		2,419		142,101
Recruit Holdings Co. Ltd.		24,600		854,109
RELX plc		30,340		1,022,768
RWS Holdings plc		110,536		369,206
SGS SA (Registered)		3,485		339,474
SmartGroup Corp. Ltd.(a)		7,766		47,307
SMS Co. Ltd.		2,000		42,399
Synergie SE		2,870		104,264
TechnoPro Holdings, Inc.		1,100		28,437
Teleperformance		820		119,114
TELUS International CDA, Inc.*		2,214		20,689
Thomson Reuters Corp.		2,337		316,039
Tinexta Spa(a)		1,056		19,793
Transcosmos, Inc.(a)		8,200		200,845
Wolters Kluwer NV		3,895		490,424

				8,637,119

Real Estate Management & Development - 2.4%
Aeon Mall Co. Ltd.		1,990		24,602
AFI Properties Ltd.*(a)		2,460		100,115
Africa Israel Residences Ltd.(a)		2,173		106,762
Airport City Ltd.*		1,928		29,154
Allreal Holding AG (Registered)		366		67,555
Alony Hetz Properties & Investments Ltd.		7,216		60,861
Altus Group Ltd.		2,578		86,237
Amot Investments Ltd.		5,448		29,324
Aroundtown SA*(a)		333,371		518,625
Atrium Ljungberg AB, Class B(a)		792		15,557
Aura Investments Ltd.(a)		44,280		96,570
Azrieli Group Ltd.		532		30,378
Big Shopping Centers Ltd.*		287		27,097
Blue Square Real Estate Ltd.(a)		1,927		118,187
Bukit Sembawang Estates Ltd.		8,200		25,320
CA Immobilien Anlagen AG		572		18,321
Capitaland India Trust		55,054		47,267
CapitaLand Investment Ltd.		42,131		107,882
Castellum AB		10,865		124,031


Investments	Shares		Value ($)
Catena AB		924		35,544
Cibus Nordic Real Estate AB(a)		22,878		257,575
City Developments Ltd.		9,400		52,317
Citycon OYJ		7,298		45,422
CK Asset Holdings Ltd.		41,000		236,578
Colliers International Group, Inc.(a)		748		75,871
Corem Property Group AB, Class B(a)		193,438		130,708
Daito Trust Construction Co. Ltd.		1,900		204,469
Daiwa House Industry Co. Ltd.		15,300		415,883
Deutsche EuroShop AG		4,592		112,143
Deutsche Wohnen SE		1,012		25,440
Dios Fastigheter AB		7,480		51,112
Electra Real Estate Ltd.		1,476		18,613
Entra ASA(b)		2,068		20,248
ESR Group Ltd.(b)		32,800		57,199
Fabege AB(a)		5,412		46,974
Fastighets AB Balder, Class B*(a)		12,348		57,747
FastPartner AB, Class A		3,124		14,078
FirstService Corp.		676		106,065
G City Ltd.(a)		28,290		98,530
Gav-Yam Lands Corp. Ltd.		593		4,273
Goldcrest Co. Ltd.		4,100		55,694
Grainger plc(a)		41,287		133,761
Grand City Properties SA*(a)		28,823		238,341
Great Eagle Holdings Ltd.(a)		83,451		155,373
GuocoLand Ltd.		100,000		116,734
Hang Lung Group Ltd.		238,000		371,098
Hang Lung Properties Ltd.		44,000		68,268
Heiwa Real Estate Co. Ltd.		1,300		36,325
Henderson Land Development Co. Ltd.		33,239		102,291
Ho Bee Land Ltd.		76,800		113,945
Hufvudstaden AB, Class A		2,610		32,018
Hulic Co. Ltd.		8,200		69,805
Ichigo, Inc.		17,800		33,826
IES Holdings Ltd.*		943		65,661
IMMOFINANZ AG*		2,132		42,829
Intershop Holding AG		76		52,780
Israel Canada T.R Ltd.(a)		45,838		114,105
Isras Investment Co. Ltd.		533		109,738
IWG plc*		41,041		80,739
Jeudan A/S(a)		3,403		127,877
K Wah International Holdings Ltd.		369,000		120,655
Katitas Co. Ltd.(a)		1,100		20,222
Keihanshin Building Co. Ltd.		4,100		36,446
Kerry Properties Ltd.		16,500		35,544
Kojamo OYJ		3,579		35,041
Kowloon Development Co. Ltd.		123,000		129,329
LEG Immobilien SE*		574		40,731
Lendlease Corp. Ltd.(a)		14,582		84,799
Lifestyle Communities Ltd.(a)		1,107		12,950
Mega Or Holdings Ltd., REIT(a)		2,542		56,222
Melisron Ltd.		460		30,511
Mitsubishi Estate Co. Ltd.		16,400		200,498
Mitsui Fudosan Co. Ltd.		16,400		336,876
Mivne Real Estate KD Ltd.		14,248		37,712
Mobimo Holding AG (Registered)		352		104,562
Morguard Corp.		1,025		79,944
New World Development Co. Ltd.		33,590		82,611
Nexity SA(a)		15,662		266,102

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund (cont.)


Investments	Shares		Value ($)
Nomura Real Estate Holdings, Inc.		1,400		34,714
NP3 Fastigheter AB		1,462		24,600
Nyfosa AB		57,605		365,942
OUE Ltd.		147,600		118,943
Pandox AB, Class B		5,412		63,868
PEXA Group Ltd.*		7,380		65,793
Platzer Fastigheter Holding AB, Class B		3,080		23,450
Prashkovsky Investments and Construction Ltd.(a)		1,312		30,583
PSP Swiss Property AG (Registered)		736		87,282
Relo Group, Inc.		2,270		31,347
Sagax AB, Class B		2,420		53,870
Samhallsbyggnadsbolaget i Norden AB(a)		22,748		9,840
SAMTY Co. Ltd.		12,300		196,516
Savills plc		51,373		643,805
Sino Land Co. Ltd.		73,785		90,354
Sirius Real Estate Ltd.		103,402		109,826
Starts Corp., Inc.		12,300		254,951
StorageVault Canada, Inc.(a)		12,833		47,676
Sumitomo Realty & Development Co. Ltd.		11,200		300,023
Summit Real Estate Holdings Ltd.		2,706		37,580
Sun Frontier Fudousan Co. Ltd.		12,300		130,549
Sun Hung Kai Properties Ltd.		34,500		431,543
Swire Pacific Ltd., Class A		10,500		87,447
Swire Properties Ltd.		16,400		41,007
Swiss Prime Site AG (Registered)		1,227		119,466
TAG Immobilien AG*		62,771		707,654
Tokyo Tatemono Co. Ltd.		5,200		69,447
Tokyu Fudosan Holdings Corp.		11,200		66,555
Tosei Corp.		8,200		101,634
Tricon Residential, Inc.(a)		17,097		160,027
UOL Group Ltd.		6,799		35,997
VGP NV		738		79,253
Villar International Ltd.(a)		1,599		70,792
Vonovia SE		15,211		356,214
Wallenstam AB, Class B		8,888		34,731
Wharf Holdings Ltd. (The)		17,000		39,804
Wharf Real Estate Investment Co. Ltd.		25,000		133,836
Wihlborgs Fastigheter AB		7,304		57,209
Wing Tai Holdings Ltd.		57,400		61,818
Yanlord Land Group Ltd.*		196,800		120,054
YH Dimri Construction & Development Ltd.(a)		452		32,053

				13,060,650

Residential REITs - 0.1%
Advance Residence Investment Corp., REIT(a)		18		43,898
Altarea SCA, REIT		92		8,622
Boardwalk REIT, REIT(a)		574		28,568
Canadian Apartment Properties REIT, REIT(a)		1,012		39,527
Comforia Residential REIT, Inc., REIT(a)		19		45,534
Daiwa Securities Living Investments Corp., REIT		26		20,843


Investments	Shares		Value ($)
Ingenia Communities Group, REIT(a)		20,254		55,684
InterRent REIT, REIT		738		7,182
Kenedix Residential Next Investment Corp., REIT(a)		41		64,207
Killam Apartment REIT, REIT		2,624		36,083
Nippon Accommodations Fund, Inc., REIT(a)		8		37,950
UNITE Group plc (The), REIT		8,364		104,764
Xior Student Housing NV, REIT(b)		1,581		49,418

				542,280

Retail REITs - 0.7%
AEON REIT Investment Corp., REIT		29		30,555
BWP Trust, REIT(a)		32,513		80,406
CapitaLand China Trust, REIT		20,500		16,057
CapitaLand Integrated Commercial Trust, REIT		75,746		116,374
Carmila SA, REIT*(a)		21,812		354,480
Charter Hall Retail REIT, REIT		35,342		89,307
Choice Properties REIT, REIT(a)		3,957		41,817
Crombie REIT, REIT(a)		3,256		34,459
Eurocommercial Properties NV, REIT		16,031		406,525
First Capital REIT, REIT		5,822		65,153
Fortune REIT, REIT		41,000		29,599
Frasers Centrepoint Trust, REIT		12,749		20,835
Fukuoka REIT Corp., REIT(a)		82		96,094
Hammerson plc, REIT(a)		237,021		81,120
HMC Capital Ltd., REIT(a)		9,954		34,745
HomeCo Daily Needs REIT, REIT(b)		561,864		452,441
Japan Metropolitan Fund Invest, REIT		103		70,682
Kenedix Retail REIT Corp., REIT		31		60,721
Kiwi Property Group Ltd., REIT		36,982		21,865
Klepierre SA, REIT		3,960		105,441
Lendlease Global Commercial REIT, REIT		143,500		73,490
Link REIT, REIT		40,123		224,572
Mapletree Pan Asia Commercial Trust, REIT		30,462		37,854
Mercialys SA, REIT		28,085		243,850
Primaris REIT, REIT		2,706		27,425
Region RE Ltd., REIT		19,270		31,424
Retail Estates NV, REIT		4,182		267,891
Scentre Group, REIT(a)		86,510		163,808
Shaftesbury Capital plc, REIT		115,456		177,965
SmartCentres REIT, REIT(a)		1,558		29,485
Starhill Global REIT, REIT		80,696		31,299
Unibail-Rodamco-Westfield, REIT*		2,255		128,191
Unibail-Rodamco-Westfield, REIT, CHDI*		5		14
Vicinity Ltd., REIT		65,692		87,426
Waypoint REIT Ltd., REIT		14,268		25,190

				3,758,560

Semiconductors & Semiconductor Equipment - 2.3%
Advantest Corp.		3,100		426,010
AEM Holdings Ltd.		13,200		37,478
AIXTRON SE		2,337		92,966
Alphawave IP Group plc*(a)		19,492		40,428
ams-OSRAM AG*		91,840		818,757
ASM International NV		738		352,121

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund (cont.)


Investments	Shares		Value ($)
ASML Holding NV		6,232		4,481,326
ASMPT Ltd.		5,000		48,630
BE Semiconductor Industries NV		1,470		176,094
Camtek Ltd.*		1,025		47,534
Disco Corp.		1,200		225,000
Elmos Semiconductor SE		410		36,616
Ferrotec Holdings Corp.(a)		16,400		396,495
Furuya Metal Co. Ltd.(a)		1,000		77,703
Infineon Technologies AG		20,131		887,817
Japan Material Co. Ltd.		2,500		44,200
Lasertec Corp.		1,300		196,491
Megachips Corp.		5,100		152,555
Melexis NV		495		53,430
Meyer Burger Technology AG*(a)		191,827		116,289
Nordic Semiconductor ASA*		3,828		56,456
Nova Ltd.*		352		43,889
Optorun Co. Ltd.		2,900		48,068
REC Silicon ASA*(a)		22,352		38,168
Renesas Electronics Corp.*		22,900		444,123
Rohm Co. Ltd.		1,600		149,775
Rorze Corp.(a)		400		31,278
SCREEN Holdings Co. Ltd.(a)		1,100		118,764
Shinko Electric Industries Co. Ltd.		1,400		56,520
Siltronic AG		5,699		502,675
SMA Solar Technology AG*		328		31,336
SOITEC*		369		72,804
STMicroelectronics NV		10,168		545,122
SUMCO Corp.(a)		5,700		83,045
Tokyo Electron Ltd.		7,500		1,121,463
Tokyo Seimitsu Co. Ltd.		1,600		88,626
Tower Semiconductor Ltd.*		2,139		79,578
Tri Chemical Laboratories, Inc.		1,800		33,383
u-blox Holding AG*		2,542		286,208
Ulvac, Inc.(a)		1,000		42,898
Weebit Nano Ltd.*(a)		9,758		40,768
X-Fab Silicon Foundries SE*(b)		6,765		82,195

				12,705,082

Software - 1.2%
Altium Ltd.		1,716		44,183
Appier Group, Inc.*		4,100		48,768
Asseco Poland SA		3,362		67,205
Atoss Software AG		176		42,885
BlackBerry Ltd.*		30,053		153,205
Bytes Technology Group plc		15,205		100,948
Constellation Software, Inc.		287		607,461
Crayon Group Holding ASA*(b)		4,100		43,689
Darktrace plc*		19,721		93,884
Dassault Systemes SE		10,549		452,264
Descartes Systems Group, Inc. (The)*		1,375		107,441
Enghouse Systems Ltd.		2,552		57,894
Fortnox AB		7,995		49,184
Fuji Soft, Inc.		1,400		46,657
GB Group plc		8,897		28,733
Hansen Technologies Ltd.(a)		5,576		19,689
IRESS Ltd.(a)		10,123		70,806
Kinaxis, Inc.*		520		70,736
Learning Technologies Group plc		32,868		31,717
Lectra		1,762		56,241


Investments	Shares		Value ($)
Lightspeed Commerce, Inc.*		8,159		143,623
Money Forward, Inc.*		1,100		47,560
Nemetschek SE		884		64,561
Nice Ltd.*		985		213,715
Open Text Corp.		5,863		252,293
Oracle Corp. Japan		800		56,171
QT Group OYJ*(a)		308		25,618
Rakus Co. Ltd.		1,600		27,162
Sage Group plc (The)		17,589		211,961
SAP SE		16,892		2,316,860
SimCorp A/S		660		71,035
Sinch AB*(b)		14,637		38,064
SiteMinder Ltd.*		17,179		48,735
Software AG*		2,352		82,464
Systena Corp.		24,600		47,094
TeamViewer SE*(c)		3,239		55,192
Technology One Ltd.		5,166		54,827
Temenos AG (Registered)		779		67,183
TomTom NV*		6,776		59,356
Trend Micro, Inc.		2,500		118,067
Truecaller AB, Class B*		16,113		64,007
Vitec Software Group AB, Class B		1,025		58,481
WiseTech Global Ltd.		3,239		187,245

				6,504,864

Specialized REITs - 0.0%(e)
Arena REIT, REIT		15,092		38,645
Big Yellow Group plc, REIT		4,224		58,316
Charter Hall Social Infrastructure REIT, REIT		16,831		33,911
Keppel DC REIT, REIT		21,100		34,801
National Storage REIT, REIT		20,921		32,706
Safestore Holdings plc, REIT		4,488		51,162

				249,541

Specialty Retail - 1.5%
ABC-Mart, Inc.		700		38,769
Accent Group Ltd.(a)		42,845		50,957
Alpen Co. Ltd.(a)		4,600		63,878
ARCLANDS Corp.(a)		12,300		141,717
Aritzia, Inc.*(a)		1,716		32,710
Autobacs Seven Co. Ltd.		2,100		23,072
Bic Camera, Inc.(a)		4,200		31,571
Bilia AB, Class A		24,026		253,122
Carasso Motors Ltd.		11,193		51,113
CECONOMY AG*		67,937		204,188
Currys plc		331,075		227,259
DCM Holdings Co. Ltd.		4,100		34,744
Delek Automotive Systems Ltd.		19,803		143,996
Dufry AG (Registered)*(a)		1,330		68,951
Dunelm Group plc		3,649		53,992
Eagers Automotive Ltd.(a)		4,180		41,574
EDION Corp.(a)		28,700		295,322
Fast Retailing Co. Ltd.		3,000		750,845
Fenix Outdoor International AG		369		22,089
Fielmann AG		607		31,281
Fnac Darty SA(a)		7,411		259,021
Fox Wizel Ltd.		533		44,663
Frasers Group plc*		4,620		48,327
Geo Holdings Corp.(a)		8,200		113,696

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund (cont.)


Investments	Shares		Value ($)
H & M Hennes & Mauritz AB, Class B		7,790		131,075
Hornbach Holding AG & Co. KGaA		3,239		262,659
Hour Glass Ltd. (The)		98,400		154,144
IDOM, Inc.		19,600		114,913
Industria de Diseno Textil SA		17,220		660,900
JB Hi-Fi Ltd.(a)		1,722		52,971
JD Sports Fashion plc		53,934		109,435
JINS Holdings, Inc.(a)		900		22,329
Joyful Honda Co. Ltd.		2,000		23,170
Kingfisher plc(a)		41,944		132,598
KMD Brands Ltd.(a)		64,862		36,734
Kohnan Shoji Co. Ltd.(a)		9,700		237,584
Komeri Co. Ltd.(a)		12,300		257,981
K’s Holdings Corp.(a)		6,100		56,028
Leon’s Furniture Ltd.		9,471		159,811
Luk Fook Holdings International Ltd.		123,672		325,882
MEKO AB		14,965		156,522
MOG Digitech Holdings Ltd.*		30,000		376,794
Musti Group OYJ		492		9,677
Nick Scali Ltd.(a)		1,599		11,529
Nishimatsuya Chain Co. Ltd.(a)		12,300		147,863
Nitori Holdings Co. Ltd.		1,600		196,565
Nojima Corp.		24,600		240,148
Pet Valu Holdings Ltd.(a)		1,716		39,763
Pets at Home Group plc		25,444		128,462
Premier Investments Ltd.		1,517		22,612
Sanrio Co. Ltd.		1,800		83,856
Shimamura Co. Ltd.(a)		500		49,567
Super Retail Group Ltd.		5,324		44,163
T-Gaia Corp.		5,100		64,432
USS Co. Ltd.		5,600		97,078
VT Holdings Co. Ltd.		36,900		138,427
Watches of Switzerland Group plc*(c)		3,344		32,420
WH Smith plc		7,134		137,042
Yamada Holdings Co. Ltd.		17,300		52,309
Yellow Hat Ltd.		12,500		164,256
Zalando SE*(b)		3,444		119,232
ZOZO, Inc.		2,800		54,628

				8,132,416

Technology Hardware, Storage & Peripherals - 0.3%
Brother Industries Ltd.		7,900		123,076
Canon, Inc.		16,400		423,967
Eizo Corp.		1,500		53,315
Elecom Co. Ltd.		1,600		17,230
FUJIFILM Holdings Corp.		6,400		371,486
Konica Minolta, Inc.		14,200		52,590
Logitech International SA (Registered)		2,899		205,607
MCJ Co. Ltd.		24,600		195,304
Ricoh Co. Ltd.		12,700		112,940
Riso Kagaku Corp.		1,700		27,903
Seiko Epson Corp.(a)		8,200		134,618
Toshiba TEC Corp.		1,100		31,936

				1,749,972

Textiles, Apparel & Luxury Goods - 1.9%
adidas AG		2,706		548,964
Asics Corp.		3,400		107,159
Brunello Cucinelli SpA		660		55,995
Burberry Group plc		6,191		177,076


Investments	Shares		Value ($)
Canada Goose Holdings, Inc.*(a)		2,464		45,040
Chow Sang Sang Holdings International Ltd.		143,000		166,494
Cie Financiere Richemont SA (Registered)		7,995		1,293,994
Coats Group plc		93,931		84,599
Crystal International Group Ltd.(b)		209,500		75,755
Delta Galil Ltd.		3,772		149,288
Descente Ltd.		1,200		34,797
Dr. Martens plc		33,087		64,964
Gildan Activewear, Inc.		2,703		84,217
Goldwin, Inc.		1,000		82,137
Hermes International		533		1,185,015
HUGO BOSS AG		1,232		99,838
Japan Wool Textile Co. Ltd. (The)		22,900		194,540
Kering SA		1,107		639,066
LPP SA		24		82,912
LVMH Moet Hennessy Louis Vuitton SE		4,018		3,757,122
Moncler SpA		3,075		222,813
New Wave Group AB, Class B		5,104		46,384
Pandora A/S		1,640		164,599
Puma SE		1,640		111,095
Samsonite International SA*(b)		24,600		72,866
Seiko Group Corp.		1,200		22,188
Stella International Holdings Ltd.		144,000		141,254
Swatch Group AG (The)		451		144,845
Swatch Group AG (The) (Registered)		792		47,784
Tod’s SpA*		778		35,427
Wacoal Holdings Corp.		4,100		89,226
Yue Yuen Industrial Holdings Ltd.		287,000		382,731

				10,410,184

Tobacco - 0.5%
British American Tobacco plc		47,437		1,596,366
Imperial Brands plc		20,459		484,222
Japan Tobacco, Inc.		16,400		363,944
Scandinavian Tobacco Group A/S(b)		20,746		361,558

				2,806,090

Trading Companies & Distributors - 2.4%
AddTech AB, Class B		4,180		78,051
Ashtead Group plc		6,929		513,694
Azelis Group NV		1,148		29,745
BayWa AG		828		34,782
Beijer Ref AB, Class B		6,100		83,133
Bossard Holding AG (Registered), Class A		220		51,647
Brenntag SE		2,342		181,992
Bufab AB		968		28,374
Bunzl plc		5,576		207,196
Chori Co. Ltd.		4,100		84,493
Daiichi Jitsugyo Co. Ltd.(a)		4,100		154,673
Diploma plc		1,979		82,449
Finning International, Inc.		2,562		88,407
Grafton Group plc		14,965		168,652
Hanwa Co. Ltd.(a)		15,100		515,980
Howden Joinery Group plc		11,508		109,126
IMCD NV		984		149,663
Inaba Denki Sangyo Co. Ltd.		4,100		91,044

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund (cont.)


Investments	Shares		Value ($)
Inabata & Co. Ltd.(a)		16,400		382,066
ITOCHU Corp.(a)		32,800		1,327,421
Japan Pulp & Paper Co. Ltd.		4,100		133,319
Kanamoto Co. Ltd.		12,300		216,860
Kanematsu Corp.(a)		28,700		421,370
Kloeckner & Co. SE		28,167		263,972
Marubeni Corp.		36,900		652,788
Mitani Corp.		12,300		119,641
Mitsubishi Corp.		30,900		1,580,015
Mitsui & Co. Ltd.		32,800		1,279,172
MonotaRO Co. Ltd.		5,600		68,423
Nagase & Co. Ltd.		2,200		37,797
Nishio Holdings Co. Ltd.		8,500		215,970
OEM International AB, Class B		9,061		73,557
Reece Ltd.(a)		3,403		44,945
Rexel SA		4,641		112,163
Richelieu Hardware Ltd.		3,422		114,444
RS GROUP plc		4,346		43,873
Russel Metals, Inc.		22,591		666,102
Scope Metals Group Ltd.*(a)		1,845		65,014
Seven Group Holdings Ltd.		3,036		53,641
Sojitz Corp.		3,999		94,993
Sumitomo Corp.		26,800		574,744
Theme International Holdings Ltd.*		1,640,000		182,954
Thermador Groupe(a)		396		35,191
Toromont Industries Ltd.		1,230		104,988
Toyota Tsusho Corp.		5,000		291,913
Travis Perkins plc		78,392		878,316
Trusco Nakayama Corp.		1,800		27,732
Yamazen Corp.		24,600		209,155
Yellow Cake plc*(b)		7,602		42,215
Yuasa Trading Co. Ltd.(a)		8,200		262,599

				13,230,454

Transportation Infrastructure - 0.3%
Aena SME SA(b)		1,025		164,319
Aeroports de Paris		555		76,857
Atlas Arteria Ltd.		18,448		78,068
Auckland International Airport Ltd.*		22,332		116,746
Dalrymple Bay Infrastructure Ltd.(a)		37,023		68,856
Enav SpA(b)		12,657		54,480
Flughafen Zurich AG (Registered)		320		68,035
Fraport AG Frankfurt Airport Services Worldwide*		890		47,130
Getlink SE		6,888		121,472
Hamburger Hafen und Logistik AG		9,471		124,889
Japan Airport Terminal Co. Ltd.		1,200		55,946
Kamigumi Co. Ltd.		3,100		71,958
Mitsubishi Logistics Corp.		1,700		42,703
Port of Tauranga Ltd.		5,225		20,161
Qube Holdings Ltd.		36,652		72,612
SATS Ltd.*		8,200		17,292
Sumitomo Warehouse Co. Ltd. (The)(a)		4,100		70,527
Transurban Group		43,214		417,577
Westshore Terminals Investment Corp.(a)		1,647		38,214

				1,727,842


Investments	Shares		Value ($)
Water Utilities - 0.1%
Pennon Group plc		6,109		55,257
Severn Trent plc		3,854		126,646
United Utilities Group plc		10,455		134,385

				316,288

Wireless Telecommunication Services - 0.7%
1&1 AG		17,220		196,694
Airtel Africa plc(b)		34,804		52,214
Freenet AG		4,141		102,819
KDDI Corp.		24,600		724,945
Millicom International Cellular SA, SDR*		4,102		63,770
Okinawa Cellular Telephone Co.		8,200		173,430
Orange Belgium SA*		1,188		18,128
Partner Communications Co. Ltd.*(a)		10,619		45,506
Rogers Communications, Inc., Class B		6,109		267,984
SoftBank Corp.		41,000		455,363
SoftBank Group Corp.		16,400		835,929
StarHub Ltd.		61,500		48,170
Tele2 AB, Class B		8,052		60,707
Vodafone Group plc		617,583		591,431

				3,637,090

TOTAL COMMON STOCKS (COST $455,254,592)				543,561,903


Investments	Shares		Value ($)
CLOSED END FUNDS - 0.0%(e)

Independent Power and Renewable Electricity Producers - 0.0%(e)
Renewables Infrastructure Group Ltd. (The) (Cost $70,852)		47,630		69,863


Investments	Number of Warrants		Value ($)
WARRANTS - 0.0%

Construction & Engineering - 0.0%(a)
Webuild SpA, expiring 8/2/2030*‡
(Cost $–)		10,785		—


Investments	Number of Rights		Value ($)
RIGHTS - 0.0%

Real Estate Management & Development - 0.0%(a)
S IMMO AG, expiring 12/31/2023, price 1.00 EUR*‡ (Cost $–)		2,564		—

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund (cont.)


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 1.2%(f)

REPURCHASE AGREEMENTS - 1.2%
Citigroup Global Markets, Inc., 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $5,343,521, collateralized by various U.S. Treasury Securities, ranging from 0.50% - 2.63%, maturing 8/31/2026 - 2/15/2029; total market value $5,408,632		5,342,737		5,342,737
Societe Generale, 5.34%, dated 7/31/2023, due 8/1/2023, repurchase price $1,000,148, collateralized by various U.S. Treasury Securities, ranging from 1.38% - 4.75%, maturing 2/15/2037 - 5/15/2051; total market value $1,016,122		1,000,000		1,000,000
TD Prime Services LLC, 5.40%, dated 7/31/2023, due 8/1/2023, repurchase price $379,451, collateralized by various Common Stocks; total market value $418,921		379,394		379,394

				6,722,131

TOTAL SECURITIES LENDING REINVESTMENTS (COST $6,722,131)				6,722,131

Total Investments - 99.2% (Cost $462,047,575)				550,353,897
Other assets less liabilities - 0.8%				4,315,105

Net Assets - 100.0%				554,669,002

*	Non-income producing security.

‡	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(a)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $57,869,165, collateralized in the form of cash with a value of $6,722,131 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $42,390,786 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 7.63%, and maturity dates ranging from July 31, 2023 – February 15, 2053 and $14,073,091 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 6.00%, and maturity dates ranging from September 7, 2023 – September 20, 2117; a total value of $63,186,008.

(b)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund had the following outstanding contracts as of July 31, 2023:

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 98.5%

Aerospace & Defense - 0.2%
AECC Aviation Power Co. Ltd., Class A		4,700		26,595
Aselsan Elektronik Sanayi ve Ticaret A/S		17,640		48,871
AviChina Industry & Technology Co. Ltd., Class H(a)		81,000		40,507
Bharat Dynamics Ltd.(b)		705		10,522
Bharat Electronics Ltd.		61,932		98,415
Colt CZ Group SE		3,283		85,367
Data Patterns India Ltd.		588		14,568
Embraer SA*		9,400		36,576
Hanwha Aerospace Co. Ltd.		588		56,371
Hanwha Systems Co. Ltd.		689		8,216
Hindustan Aeronautics Ltd.(b)		1,708		82,266
Korea Aerospace Industries Ltd.		1,176		45,392
Kuang-Chi Technologies Co. Ltd., Class A		5,600		11,754
LIG Nex1 Co. Ltd.		250		15,043
Mazagon Dock Shipbuilders Ltd.		1,175		27,100
United Aircraft Corp. PAO*‡		25,155,036		—

				607,563

Air Freight & Logistics - 0.3%
Abu Dhabi Aviation Co.		5,978		12,044
Agility Public Warehousing Co. KSC*		27,701		56,827
Allcargo Logistics Ltd.		30,821		116,934
Aramex PJSC		32,940		26,904
Blue Dart Express Ltd.		245		20,042
CJ Logistics Corp.		245		13,839
Delhivery Ltd.*		2,499		12,128
Hyundai Glovis Co. Ltd.		686		93,806
JD Logistics, Inc.*(b)		29,400		49,611
Kerry Express Thailand PCL, NVDR*		8,700		2,478
Kerry TJ Logistics Co. Ltd.		8,000		9,190
SCGJWD Logistics PCL, NVDR		29,300		14,295
SF Holding Co. Ltd., Class A		7,300		50,817
Sinotrans Ltd., Class A		4,700		3,315
Sinotrans Ltd., Class H		47,000		18,863
YTO Express Group Co. Ltd., Class A		4,700		10,338
Yunda Holding Co. Ltd., Class A		5,800		8,432
ZTO Express Cayman, Inc.		7,350		202,253

				722,116

Automobile Components - 1.2%
Apollo Tyres Ltd.		4,465		23,495
Asahi India Glass Ltd.		4,900		34,181
Balkrishna Industries Ltd.		1,225		37,865
Bharat Forge Ltd.		3,871		43,838
Bosch Ltd.		147		33,905
Ceat Ltd.		799		24,009


Investments	Shares		Value ($)
Cheng Shin Rubber Industry Co. Ltd.		49,000		59,951
CIE Automotive India Ltd.		1,715		10,631
Cub Elecparts, Inc.*		7,000		33,968
Depo Auto Parts Ind Co. Ltd.		49,000		172,291
DN Automotive Corp.		1,519		109,994
Endurance Technologies Ltd.(b)		350		7,204
Exide Industries Ltd.*		8,526		25,874
Fuyao Glass Industry Group Co. Ltd., Class A		4,800		25,441
Fuyao Glass Industry Group Co. Ltd., Class H(b)		8,400		37,268
Hankook & Co. Co Ltd.		907		8,169
Hankook Tire & Technology Co. Ltd.		2,492		75,660
Hanon Systems		2,756		18,443
HL Mando Co. Ltd.		1,045		37,835
Hota Industrial Manufacturing Co. Ltd.		12,134		25,753
Huayu Automotive Systems Co. Ltd., Class A		9,400		25,951
Hyundai Mobis Co. Ltd.		1,911		349,322
Hyundai Wia Corp.		583		28,861
Iljin Hysolus Co. Ltd.*		383		7,842
JBM Auto Ltd.		784		13,361
Kordsa Teknik Tekstil A/S		24,255		81,250
Kumho Tire Co., Inc.*		5,635		20,048
Minda Corp. Ltd.		3,724		13,984
Minth Group Ltd.		12,000		38,237
Motherson Sumi Wiring India Ltd.		30,126		21,446
MRF Ltd.		38		47,567
Myoung Shin Industrial Co. Ltd.*		12,103		193,226
Nan Kang Rubber Tire Co. Ltd.*		14,000		16,906
Nexen Tire Corp.		13,049		87,939
Nexteer Automotive Group Ltd.(a)		343,000		252,455
Ningbo Tuopu Group Co. Ltd., Class A		1,200		12,328
Samvardhana Motherson International Ltd.		38,364		45,851
Sebang Global Battery Co. Ltd.		2,793		103,972
SL Corp.		550		16,203
SNT Motiv Co. Ltd.		3,430		129,838
Sona Blw Precision Forgings Ltd.(b)		5,145		35,662
Sri Trang Agro-Industry PCL, NVDR		318,500		151,672
Sundaram-Clayton Ltd.		2,205		136,897
Sundram Fasteners Ltd.		1,504		23,168
Sungwoo Hitech Co. Ltd.		2,205		21,675
Tianneng Power International Ltd.(a)		294,000		328,355
Tube Investments of India Ltd.		1,715		64,206
Tung Thih Electronic Co. Ltd.		7,000		30,738
UNO Minda Ltd.		3,740		27,063
Weifu High-Technology Group Co. Ltd., Class A		4,700		11,752

				3,183,550


Investments	Shares		Value ($)
Automobiles - 2.1%
Bajaj Auto Ltd.		1,151		69,011
Brilliance China Automotive Holdings Ltd.		98,000		52,401
BYD Co. Ltd., Class A		2,600		98,954
BYD Co. Ltd., Class H		14,000		494,749
China Motor Corp.		7,000		19,713
Chongqing Changan Automobile Co. Ltd., Class A		17,108		38,373
Chongqing Changan Automobile Co. Ltd., Class B		4,890		2,508
Dongfeng Motor Group Co. Ltd., Class H		980,000		457,409
DRB-Hicom Bhd.		362,600		119,017
Eicher Motors Ltd.		2,470		101,069
Ford Otomotiv Sanayi A/S		1,808		63,761
Geely Automobile Holdings Ltd.		147,000		212,243
Great Wall Motor Co. Ltd., Class A		4,700		19,440
Great Wall Motor Co. Ltd., Class H		49,000		66,349
Guangzhou Automobile Group Co. Ltd., Class A		13,500		22,101
Guangzhou Automobile Group Co. Ltd., Class H		98,000		61,323
Hero MotoCorp Ltd.		2,107		82,070
Hyundai Motor Co.		4,116		632,908
Hyundai Motor Co. (2nd Preference)		931		79,175
Hyundai Motor Co. (3rd Preference)		54		4,402
Hyundai Motor Co. (Preference)		650		54,666
Kia Corp.		7,894		512,167
Li Auto, Inc., Class A*		19,600		416,946
Mahindra & Mahindra Ltd.		15,778		282,992
Maruti Suzuki India Ltd.		2,205		263,284
NIO, Inc., Class A*(a)		23,030		343,145
Oriental Holdings Bhd.		8,500		12,102
SAIC Motor Corp. Ltd., Class A		24,500		53,102
Sanyang Motor Co. Ltd.		3,000		7,532
Tata Motors Ltd.		27,587		216,104
Tata Motors Ltd., Class A		8,230		41,456
Tofas Turk Otomobil Fabrikasi A/S		3,233		36,260
TVS Motor Co. Ltd.		3,493		58,467
UMW Holdings Bhd.		14,100		12,915
XPeng, Inc., Class A*		14,700		163,518
Yadea Group Holdings Ltd.(a)(b)		16,000		36,232
Yulon Motor Co. Ltd.		27,000		70,450

				5,278,314

Banks - 13.4%
Absa Group Ltd.(a)		23,863		254,212
Abu Dhabi Commercial Bank PJSC		88,302		211,076
Abu Dhabi Islamic Bank PJSC		41,650		127,454
AFFIN Bank Bhd.		6,973		3,016
Agricultural Bank of China Ltd., Class A		393,100		199,115


Investments	Shares		Value ($)
Agricultural Bank of China Ltd., Class H		833,000		302,280
Akbank TAS, ADR(a)		46,845		92,753
Al Ahli Bank of Kuwait KSCP		10,003		7,817
Al Rajhi Bank		31,311		622,614
Alinma Bank		15,813		155,955
Alliance Bank Malaysia Bhd.		27,600		21,607
Alpha Services and Holdings SA*		63,014		113,628
AMMB Holdings Bhd.		53,900		46,142
AU Small Finance Bank Ltd.(b)		4,998		44,351
Axis Bank Ltd.		37,583		435,878
BAC Holding International Corp.		556,637		31,753
Banco Bradesco SA		45,600		142,349
Banco Bradesco SA (Preference)		151,900		531,980
Banco de Bogota SA		3,242		25,466
Banco de Chile		1,193,934		132,832
Banco de Credito e Inversiones SA		1,885		56,583
Banco del Bajio SA(b)		19,600		59,906
Banco do Brasil SA		39,200		397,105
Banco do Estado do Rio Grande do Sul SA (Preference), Class B		83,300		255,483
Banco Itau Chile SA		2,352		27,456
Banco Santander Chile		1,891,547		100,919
Bancolombia SA		8,820		75,822
Bancolombia SA (Preference)		13,747		105,999
Bandhan Bank Ltd.*(b)		11,877		32,260
Bangkok Bank PCL, NVDR		15,000		75,156
Bank Aladin Syariah Tbk. PT*		279,300		23,522
Bank AlBilad		8,364		97,538
Bank Al-Jazira		6,066		29,719
Bank BTPN Syariah Tbk. PT		989,800		139,806
Bank Central Asia Tbk. PT		872,200		527,774
Bank Ina Perdana PT*		14,100		3,703
Bank Jago Tbk. PT*		9,800		1,891
Bank Mandiri Persero Tbk. PT		1,278,900		485,524
Bank Negara Indonesia Persero Tbk. PT		215,600		126,887
Bank OCBC Nisp Tbk. PT		1,269,100		101,831
Bank of Ayudhya PCL, NVDR		53,600		50,110
Bank of Baroda		31,698		77,926
Bank of Beijing Co. Ltd., Class A		70,000		45,741
Bank of Changsha Co. Ltd., Class A		9,400		10,812
Bank of Chengdu Co. Ltd., Class A		10,600		20,972
Bank of China Ltd., Class A		200,900		109,913
Bank of China Ltd., Class H		2,205,000		817,117
Bank of Chongqing Co. Ltd., Class A		14,700		17,031
Bank of Communications Co. Ltd., Class A		102,100		83,146
Bank of Communications Co. Ltd., Class H		588,000		354,367
Bank of Hangzhou Co. Ltd., Class A		18,800		32,251
Bank of India		21,338		22,143
Bank of Jiangsu Co. Ltd., Class A		42,580		43,016
Bank of Nanjing Co. Ltd., Class A		31,200		37,413
Bank of Ningbo Co. Ltd., Class A		16,350		66,619


Investments	Shares		Value ($)
Bank of Qingdao Co. Ltd., Class H(b)		23,500		7,322
Bank of Shanghai Co. Ltd., Class A		45,000		38,850
Bank of the Philippine Islands		31,814		66,321
Bank of Xi’an Co. Ltd., Class A		4,900		2,681
Bank of Zhengzhou Co. Ltd., Class A*		19,239		6,326
Bank Pan Indonesia Tbk. PT*		71,500		6,069
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk. PT		2,430,400		191,789
Bank Pembangunan Daerah Jawa Timur Tbk. PT		1,367,100		59,833
Bank Rakyat Indonesia Persero Tbk. PT		1,185,800		444,282
Bank Tabungan Negara Persero Tbk. PT		2,391,224		208,519
Banque Saudi Fransi		16,807		190,846
BDO Unibank, Inc.		34,300		90,613
BIMB Holdings Bhd.		44,100		21,517
BNK Financial Group, Inc.		8,379		44,437
BOC Hong Kong Holdings Ltd.		98,000		297,819
Boubyan Bank KSCP		21,117		42,633
Burgan Bank SAK		31,504		21,338
Canara Bank		9,541		39,945
Capitec Bank Holdings Ltd.		1,492		150,461
Chang Hwa Commercial Bank Ltd.		114,919		68,930
China Banking Corp.		44,100		24,890
China Bohai Bank Co. Ltd., Class H*(a)(b)		1,249,500		193,865
China CITIC Bank Corp. Ltd., Class H		245,000		118,122
China Construction Bank Corp., Class A		28,200		24,306
China Construction Bank Corp., Class H		2,793,000		1,622,359
China Everbright Bank Co. Ltd., Class A		117,600		51,340
China Everbright Bank Co. Ltd., Class H		53,000		15,767
China Merchants Bank Co. Ltd., Class A		44,100		219,428
China Merchants Bank Co. Ltd., Class H		98,000		483,170
China Minsheng Banking Corp. Ltd., Class A		83,300		46,856
China Minsheng Banking Corp. Ltd., Class H(a)		147,000		55,982
China Zheshang Bank Co. Ltd., Class A		61,100		23,767
China Zheshang Bank Co. Ltd., Class H		68,900		20,232
Chongqing Rural Commercial Bank Co. Ltd., Class A		18,800		10,338
Chongqing Rural Commercial Bank Co. Ltd., Class H		47,000		17,357
CIMB Group Holdings Bhd.		208,040		256,071
City Union Bank Ltd.		9,675		15,668
Commercial Bank PSQC (The)		91,287		156,743


Investments	Shares		Value ($)
Commercial International Bank Egypt SAE		68,104		111,213
Credicorp Ltd.		1,862		292,427
Credit Agricole Egypt SAE*		208,691		93,531
Credit Bank of Moscow PJSC*‡		229,590		—
CTBC Financial Holding Co. Ltd.*		539,000		450,217
DGB Financial Group, Inc.		5,243		30,068
Doha Bank QPSC		986,223		468,727
Dubai Islamic Bank PJSC		84,427		132,167
Dukhan Bank		41,846		47,502
E.Sun Financial Holding Co. Ltd.		265,141		218,093
Emirates NBD Bank PJSC		72,520		335,645
Equitas Small Finance Bank Ltd.(b)		23,177		26,700
Eurobank Ergasias Services and Holdings SA*		60,172		105,319
Faisal Islamic Bank of Egypt		63,504		63,059
Far Eastern International Bank		167,617		63,203
Federal Bank Ltd.*		30,426		50,181
First Abu Dhabi Bank PJSC		69,433		276,745
First Financial Holding Co. Ltd.		184,000		170,086
Grupo Aval Acciones y Valores SA (Preference)		116,179		15,140
Grupo Bolivar SA		1,518		26,389
Grupo Elektra SAB de CV(a)		980		74,296
Grupo Financiero Banorte SAB de CV, Class O		68,600		651,849
Grupo Financiero Inbursa SAB de CV, Class O*(a)		28,946		70,448
Grupo Security SA		477,750		137,434
Gulf Bank KSCP		47,076		40,469
Haci Omer Sabanci Holding A/S		31,455		67,287
Hana Financial Group, Inc.		8,330		256,830
HDFC Bank Ltd.		87,523		1,757,084
Hong Leong Bank Bhd.		14,300		62,097
Hong Leong Financial Group Bhd.		4,900		19,887
Hua Nan Financial Holdings Co. Ltd.		161,065		114,034
Huaxia Bank Co. Ltd., Class A		47,000		38,143
ICICI Bank Ltd.		83,055		1,008,086
IDFC First Bank Ltd.*		64,593		68,481
Indian Bank		7,425		31,316
IndusInd Bank Ltd.		9,523		164,151
Industrial & Commercial Bank of China Ltd., Class A		254,800		170,063
Industrial & Commercial Bank of China Ltd., Class H		2,009,000		978,907
Industrial Bank Co. Ltd., Class A		53,900		125,648
Industrial Bank of Korea		7,448		60,711
Intercorp Financial Services, Inc.(b)		1,040		25,480
Itau Unibanco Holding SA (Preference)		137,200		826,018
Itausa SA		29,065		60,549
Itausa SA (Preference)		142,100		293,338
JB Financial Group Co. Ltd.		3,370		22,631
Jiangsu Changshu Rural Commercial Bank Co. Ltd., Class A		6,700		6,731
KakaoBank Corp.		5,243		106,945
Karur Vysya Bank Ltd. (The)*		163,072		245,752
Kasikornbank PCL, NVDR		34,000		125,158


Investments	Shares		Value ($)
KB Financial Group, Inc.		10,584		423,476
Kiatnakin Phatra Bank PCL, NVDR		9,800		15,890
King’s Town Bank Co. Ltd.		24,000		27,493
Komercni Banka A/S		2,154		70,883
Kotak Mahindra Bank Ltd.		17,346		391,540
Krung Thai Bank PCL, NVDR		112,400		67,318
Kuwait Finance House KSCP		138,964		357,026
Kuwait International Bank KSCP		38,492		20,932
Kuwait Projects Co. Holding KSCP*		56,513		23,923
LH Financial Group PCL, NVDR		1,685,500		52,689
Malayan Banking Bhd.		200,900		401,889
Malaysia Building Society Bhd.		14,100		2,439
Masraf Al Rayan QSC		87,416		60,279
Mega Financial Holding Co. Ltd.		186,775		239,215
Metropolitan Bank & Trust Co.		30,870		33,722
Moneta Money Bank A/S(b)		149,205		589,196
National Bank of Greece SA*		15,484		106,870
National Bank of Kuwait SAKP		126,273		395,554
Nedbank Group Ltd.		12,789		168,998
O-Bank Co. Ltd.		47,000		14,926
OTP Bank Nyrt.		6,125		223,490
Ping An Bank Co. Ltd., Class A		47,100		81,194
Piraeus Financial Holdings SA*		15,980		60,538
Postal Savings Bank of China Co. Ltd., Class A		98,199		71,313
Postal Savings Bank of China Co. Ltd., Class H(a)(b)		196,000		120,133
Public Bank Bhd.		436,100		403,313
Punjab National Bank		60,447		45,455
Qatar International Islamic Bank QSC		14,896		42,478
Qatar Islamic Bank SAQ		26,407		153,436
Qatar National Bank QPSC		126,469		589,957
Qingdao Rural Commercial Bank Corp., Class A*		18,800		7,892
RBL Bank Ltd.*(b)		184,877		512,156
Regional SAB de CV		4,900		38,270
RHB Bank Bhd.		112,684		142,198
Riyad Bank		41,699		353,457
Saudi Awwal Bank		6,958		70,663
Saudi Investment Bank (The)		14,063		67,099
Saudi National Bank (The)		83,496		857,973
Sberbank of Russia PJSC‡		369,050		—
Sberbank of Russia PJSC (Preference)‡		39,708		—
SCB X PCL, NVDR		24,200		79,538
Security Bank Corp.		127,400		192,521
Shanghai Commercial & Savings Bank Ltd. (The)		98,000		137,365
Shanghai Pudong Development Bank Co. Ltd., Class A		73,500		78,161
Sharjah Islamic Bank		538,755		340,293
Shinhan Financial Group Co. Ltd.		14,308		393,438
SinoPac Financial Holdings Co. Ltd.		364,894		216,546
Standard Bank Group Ltd.		37,227		399,823
State Bank of India		27,734		209,129


Investments	Shares		Value ($)
Taichung Commercial Bank Co. Ltd.		54,150		25,673
Taishin Financial Holding Co. Ltd.		370,238		215,005
Taiwan Business Bank		90,107		41,288
Taiwan Cooperative Financial Holding Co. Ltd.		147,000		137,521
Thanachart Capital PCL, NVDR		19,300		28,193
Tisco Financial Group PCL, NVDR		9,300		27,306
TMBThanachart Bank PCL, NVDR		1,288,800		64,762
Turkiye Garanti Bankasi A/S		13,849		22,579
Turkiye Halk Bankasi A/S*		15,557		8,325
Turkiye Is Bankasi A/S, Class C		98,441		55,240
Union Bank of India Ltd.		27,150		29,379
Union Bank of Taiwan		52,500		25,977
Union Bank of the Philippines		7,980		11,042
VTB Bank PJSC*‡		136,511,531		—
Warba Bank KSCP		13,740		9,440
Woori Financial Group, Inc.		17,885		163,465
Yapi ve Kredi Bankasi A/S		79,442		41,983
Yes Bank Ltd.*		237,987		49,045

				34,267,076

Beverages - 1.1%
Ambev SA		68,600		214,292
Anadolu Efes Biracilik ve Malt Sanayii A/S, Class B		5,350		17,892
Anhui Gujing Distillery Co. Ltd., Class A		700		26,652
Anhui Gujing Distillery Co. Ltd., Class B		2,200		41,105
Arca Continental SAB de CV		9,800		98,431
Becle SAB de CV		4,700		12,334
Carabao Group PCL, NVDR		4,600		9,777
Carlsberg Brewery Malaysia Bhd.		4,900		22,821
China Foods Ltd.		294,000		110,834
China Resources Beer Holdings Co. Ltd.		23,107		147,998
Chongqing Brewery Co. Ltd., Class A		600		7,631
Cia Cervecerias Unidas SA		2,156		17,864
Coca-Cola Femsa SAB de CV		9,800		82,941
Coca-Cola Icecek A/S		1,269		14,831
Embotelladora Andina SA (Preference), Class B		5,243		14,397
Emperador, Inc.		28,200		10,756
Fomento Economico Mexicano SAB de CV		29,914		339,894
Fraser & Neave Holdings Bhd.		3,700		20,515
Hebei Hengshui Laobaigan Liquor Co. Ltd., Class A		2,300		9,120
Heineken Malaysia Bhd.		3,800		22,030
Hite Jinro Co. Ltd.		1,274		20,290
Jiangsu King’s Luck Brewery JSC Ltd., Class A		4,600		39,359
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A		2,100		43,089
JiuGui Liquor Co. Ltd., Class A*		500		7,363
Kweichow Moutai Co. Ltd., Class A		1,600		421,020


Investments	Shares		Value ($)
Lotte Chilsung Beverage Co. Ltd.		47		4,513
Luzhou Laojiao Co. Ltd., Class A		2,400		80,969
Nongfu Spring Co. Ltd., Class H(a)(b)		30,000		174,260
Osotspa PCL, NVDR		31,700		27,089
Radico Khaitan Ltd.		3,528		62,231
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A		1,960		65,486
Tsingtao Brewery Co. Ltd., Class A		1,100		15,185
Tsingtao Brewery Co. Ltd., Class H		10,000		89,630
United Breweries Ltd.		1,379		25,824
United Spirits Ltd.*		5,586		68,992
Varun Beverages Ltd.		7,448		72,842
Vina Concha y Toro SA		198,499		269,314
Wuliangye Yibin Co. Ltd., Class A		4,900		124,098
ZJLD Group, Inc.*(b)		9,800		11,913

				2,865,582

Biotechnology - 0.6%
3SBio, Inc.(b)		24,500		23,530
ABLBio, Inc.*		1,585		23,825
AIM Vaccine Co. Ltd.*		9,800		60,695
Akeso, Inc.*(a)(b)		7,000		36,846
Alteogen, Inc.*		858		30,021
BeiGene Ltd.*		14,700		245,041
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A		1,421		13,769
Biocon Ltd.		6,644		20,768
Bioneer Corp.*		392		14,300
Blau Farmaceutica SA		14,700		64,213
Bloomage Biotechnology Corp. Ltd., Class A		611		8,329
CARsgen Therapeutics Holdings Ltd.*(b)		24,500		35,688
Celltrion, Inc.		1,772		203,801
Daan Gene Co. Ltd., Class A		4,700		6,662
Ever Supreme Bio Technology Co. Ltd.		8,000		48,876
GC Cell Corp.		329		9,692
Genexine, Inc.*		441		3,356
Green Cross Corp.		163		14,220
Green Cross Holdings Corp.		15,092		162,328
Hualan Biological Engineering, Inc., Class A		9,700		31,258
Hugel, Inc.*		126		10,666
InnoCare Pharma Ltd.*(b)		31,000		32,317
Innovent Biologics, Inc.*(b)		24,500		108,698
L&C Bio Co. Ltd.		605		17,989
Medigen Vaccine Biologics Corp.*		27,564		49,994
Medytox, Inc.		126		21,451
Naturecell Co. Ltd.*		1,833		11,246
OBI Pharma, Inc.*		10,354		28,466
PharmaEssentia Corp.*		4,000		43,657
PharmaResearch Co. Ltd.		349		36,470
Pharmicell Co. Ltd.*		980		5,244
Remegen Co. Ltd., Class A*		245		2,358
Seegene, Inc.		637		11,644


Investments	Shares		Value ($)
Shanghai Junshi Biosciences Co. Ltd., Class A*		1,113		6,338
Shanghai Junshi Biosciences Co. Ltd., Class H*(a)(b)		2,200		7,010
Shanghai RAAS Blood Products Co. Ltd., Class A		9,400		9,378
SillaJen, Inc.*		4,263		15,217
SK Bioscience Co. Ltd.*		468		26,913
Vaxcell-Bio Therapeutics Co. Ltd.*		371		10,609
Zai Lab Ltd.*		9,800		30,976

				1,543,859

Broadline Retail - 3.6%
Alibaba Group Holding Ltd.*		438,200		5,478,413
Bukalapak.com PT Tbk.*		700,000		10,027
Central Retail Corp. PCL, NVDR		53,475		64,444
Easyhome New Retail Group Co. Ltd., Class A		53,900		33,260
El Puerto de Liverpool SAB de CV, Class C1		6,185		38,867
Falabella SA		21,523		59,479
Far Eastern Department Stores Ltd.		49,000		34,068
Global Digital Niaga Tbk. PT*		387,100		11,654
GoTo Gojek Tokopedia Tbk. PT, Class A*		14,376,600		107,729
Hyundai Department Store Co. Ltd.		224		9,736
Hyundai Home Shopping Network Corp.		2,038		67,952
JD.com, Inc., Class A		70,801		1,450,755
Lotte Shopping Co. Ltd.		245		13,455
Magazine Luiza SA*		52,300		36,831
MINISO Group Holding Ltd., ADR		3,577		75,153
Mitra Adiperkasa Tbk. PT		171,500		22,518
momo.com, Inc.		1,560		29,734
Naspers Ltd., Class N		3,565		704,452
PDD Holdings, Inc., ADR*		8,869		796,614
Shinsegae, Inc.		212		31,800
Shoppers Stop Ltd.*		1,421		13,777
Vipshop Holdings Ltd., ADR*		10,045		189,147
Woolworths Holdings Ltd.		13,034		58,633

				9,338,498

Building Products - 0.3%
Astral Ltd.		2,308		55,262
Beijing New Building Materials plc, Class A		5,300		21,009
Blue Star Ltd.		5,634		53,676
Cera Sanitaryware Ltd.		245		22,554
China Lesso Group Holdings Ltd.		33,000		22,427
Dynasty Ceramic PCL, NVDR		215,500		12,970
Kajaria Ceramics Ltd.		1,150		20,100
KCC Glass Corp.		4,459		151,123
Kyung Dong Navien Co. Ltd.		2,695		122,630
Prince Pipes & Fittings Ltd.		1,960		15,614
Qua Granite Hayal*		19,943		5,540
Ras Al Khaimah Ceramics		172,137		126,066
Saudi Ceramic Co.		935		7,577
Xinyi Glass Holdings Ltd.		59,000		97,442
Zhuzhou Kibing Group Co. Ltd., Class A		5,300		6,793

				740,783


Investments	Shares		Value ($)
Capital Markets - 2.2%
360 ONE WAM Ltd.		8,040		50,992
Angel One Ltd.		1,551		29,061
B3 SA - Brasil Bolsa Balcao		93,100		291,607
Banco BTG Pactual SA		19,600		140,128
Bangkok Commercial Asset Management PCL, NVDR		26,500		8,516
Beyond Securities PCL, NVDR*		37,500		7,176
Bolsa Mexicana de Valores SAB de CV		19,600		41,658
Boursa Kuwait Securities Co. KPSC		5,096		31,628
Bursa Malaysia Bhd.		8,000		11,905
Caitong Securities Co. Ltd., Class A		12,220		14,260
Capital Securities Corp.		49,000		24,869
Changjiang Securities Co. Ltd., Class A		14,100		13,159
China Cinda Asset Management Co. Ltd., Class H		3,675,000		386,411
China Everbright Ltd.(a)		380,000		248,503
China Galaxy Securities Co. Ltd., Class A		5,200		9,888
China Galaxy Securities Co. Ltd., Class H		119,500		69,567
China Huarong Asset Management Co. Ltd., Class H*(a)(b)		423,000		21,967
China International Capital Corp. Ltd., Class A		1,600		8,935
China International Capital Corp. Ltd., Class H(b)		19,600		43,127
China Merchants Securities Co. Ltd., Class A		21,220		44,419
China Merchants Securities Co. Ltd., Class H(b)		16,600		16,773
Chinalin Securities Co. Ltd., Class A		4,900		9,578
CITIC Securities Co. Ltd., Class A		29,400		99,142
CITIC Securities Co. Ltd., Class H		29,073		62,331
Coronation Fund Managers Ltd.		109,662		202,320
CRISIL Ltd.		342		16,281
CSC Financial Co. Ltd., Class A		7,500		27,915
CSC Financial Co. Ltd., Class H(a)(b)		367,500		434,005
Daishin Securities Co. Ltd.		212		2,240
Daishin Securities Co. Ltd. (Preference)		530		5,385
Daou Data Corp.		4,900		50,397
Daou Technology, Inc.		10,633		146,651
Dubai Financial Market PJSC		33,628		15,198
EFG Holding S.A.E.*		463,233		246,858
Egypt Kuwait Holding Co. SAE		10,976		10,822
Everbright Securities Co. Ltd., Class A		4,700		12,061
GF Securities Co. Ltd., Class A*		14,100		32,317


Investments	Shares		Value ($)
GF Securities Co. Ltd., Class H		29,400		46,897
Guangzhou Yuexiu Capital Holdings Group Co. Ltd., Class A		11,664		12,159
Guosen Securities Co. Ltd., Class A		37,000		50,167
Guotai Junan Securities Co. Ltd., Class A		19,600		42,728
Guotai Junan Securities Co. Ltd., Class H(b)		21,200		26,423
Haitong Securities Co. Ltd., Class A		18,800		27,226
Haitong Securities Co. Ltd., Class H		78,400		54,688
Hanwha Investment & Securities Co. Ltd.*		42,483		82,656
HDFC Asset Management Co. Ltd.(b)		1,150		35,430
Huatai Securities Co. Ltd., Class A		25,100		59,565
Huatai Securities Co. Ltd., Class H(b)		29,400		41,770
IBF Financial Holdings Co. Ltd.*		56,381		21,529
ICICI Securities Ltd.(b)		1,880		14,521
IDFC Ltd.		53,949		77,891
Indian Energy Exchange Ltd.(b)		16,732		24,951
Industrial Securities Co. Ltd., Class A		34,450		33,598
Investec Ltd.		4,353		27,324
Is Yatirim Menkul Degerler A/S		214,081		176,501
Jio Financial Services Ltd.*		55,811		177,682
JM Financial Ltd.		172,039		162,838
JSE Ltd.		6,027		31,017
KIWOOM Securities Co. Ltd.		392		29,892
Korea Investment Holdings Co. Ltd.		1,225		46,947
Minmetals Capital Co. Ltd., Class A		39,800		34,361
Mirae Asset Securities Co. Ltd.		7,325		39,824
Mirae Asset Securities Co. Ltd. (Preference)		5,733		15,967
Moscow Exchange MICEX-RTS PJSC‡		29,911		—
Motilal Oswal Financial Services Ltd.		11,368		115,886
Multi Commodity Exchange of India Ltd.		583		11,775
NH Investment & Securities Co. Ltd.		5,582		43,355
Ninety One Ltd.		12,691		27,832
Nippon Life India Asset Management Ltd.(b)		7,791		29,962
Noah Holdings Ltd., ADR(a)		21,364		325,160
Norte Grande SA		1,265,334		13,704
Orient Securities Co. Ltd., Class A		12,032		18,182
Orient Securities Co. Ltd., Class H(b)		20,400		12,739
Oyak Yatirim Menkul Degerler A/S*		37,779		70,292
Pacific Strategic Financial Tbk. PT*		448,500		32,269


Investments	Shares		Value ($)
Pihsiang Machinery Manufacturing Co. Ltd.*‡		5,000		—
President Securities Corp.		15,000		9,713
PSG Konsult Ltd.		60,123		48,447
Reinet Investments SCA		2,450		59,687
Samsung Securities Co. Ltd.		2,009		56,583
Saratoga Investama Sedaya Tbk. PT		27,500		2,936
Saudi Tadawul Group Holding Co.		779		41,820
SDIC Capital Co. Ltd., Class A		37,000		40,796
Shenwan Hongyuan Group Co. Ltd., Class A		47,900		33,780
Shenwan Hongyuan Group Co. Ltd., Class H(b)		78,400		16,688
Shinyoung Securities Co. Ltd.		1,617		70,787
Sociedad de Inversiones Oro Blanco SA		1,353,420		12,894
SPIC Industry-Finance Holdings Co. Ltd., Class A		10,000		6,381
Tata Investment Corp. Ltd.		517		15,889
UTI Asset Management Co. Ltd.		3,250		31,694
Western Securities Co. Ltd., Class A		10,000		10,061
Woori Investment Bank Co. Ltd.		159,201		90,676
Yuanta Securities Korea Co. Ltd.		37,877		78,004
Zheshang Securities Co. Ltd., Class A		4,700		7,142

				5,617,736

Chemicals - 4.0%
Aarti Industries Ltd.		6,272		35,650
Abou Kir Fertilizers & Chemical Industries		9,849		15,035
Advanced Nano Products Co. Ltd.		147		18,960
Advanced Petrochemical Co.		2,025		24,560
AECI Ltd.		44,982		238,521
Akzo Nobel India Ltd.		539		18,187
Alkyl Amines Chemicals		220		6,546
Alpek SAB de CV, Class A(a)		24,500		25,435
Alujain Corp.*		14,259		175,786
Anupam Rasayan India Ltd.		980		11,616
Asia Polymer Corp.		147,000		121,149
Asian Paints Ltd.		7,423		304,808
Atul Ltd.		259		21,403
Avia Avian Tbk. PT		277,300		11,401
Balaji Amines Ltd.		350		9,311
Barito Pacific Tbk. PT		476,398		24,483
BASF India Ltd.		400		13,325
Batu Kawan Bhd.		6,300		29,733
Bayer CropScience Ltd.		141		7,627
Berger Paints India Ltd.		5,126		42,529
Boubyan Petrochemicals Co. KSCP		7,344		17,672
Braskem SA (Preference), Class A*		4,900		26,163
Carborundum Universal Ltd.		2,499		36,788
Castrol India Ltd.		18,650		32,822
Chambal Fertilisers and Chemicals Ltd.		68,306		230,126
Chandra Asri Petrochemical Tbk. PT		392,000		55,109


Investments	Shares		Value ($)
Chemplast Sanmar Ltd.*		2,585		13,956
Chengxin Lithium Group Co. Ltd., Class A		4,900		18,868
China General Plastics Corp.		147,000		113,665
China Hainan Rubber Industry Group Co. Ltd., Class A*		39,200		25,834
China Lumena New Materials Corp.*‡		22,200		—
China Man-Made Fiber Corp.*		50,000		12,808
China Petrochemical Development Corp.*		171,000		51,093
China Risun Group Ltd.(b)		49,000		22,808
Chunbo Co. Ltd.		47		7,024
CNNC Hua Yuan Titanium Dioxide Co. Ltd., Class A		7,975		6,818
Coromandel International Ltd.		1,898		23,756
Cosmochemical Co. Ltd.*		539		23,469
D&L Industries, Inc.		4,900		645
DCM Shriram Ltd.		2,303		23,473
Deepak Fertilisers & Petrochemicals Corp. Ltd.		27,489		181,848
Deepak Nitrite Ltd.		1,105		27,013
DL Holdings Co. Ltd.		397		12,225
Do-Fluoride New Materials Co. Ltd., Class A		10,800		29,619
Dongjin Semichem Co. Ltd.		725		24,088
Dongyue Group Ltd.		42,000		41,253
Eastern Polymer Group PCL, NVDR		63,600		12,263
Ecopro Co. Ltd.		343		324,796
EID Parry India Ltd.		3,871		23,325
Enchem Co. Ltd.*		235		12,998
Eternal Materials Co. Ltd.		27,550		27,220
Fertiglobe plc		44,835		43,699
Fine Organic Industries Ltd.		343		18,824
Finolex Industries Ltd.		9,600		23,309
Foosung Co. Ltd.		1,768		18,767
Formosa Chemicals & Fibre Corp.		68,000		141,511
Formosa Plastics Corp.		63,000		166,789
Fufeng Group Ltd.(a)		441,000		239,763
Galaxy Surfactants Ltd.(b)		250		8,262
Ganfeng Lithium Group Co. Ltd., Class A		4,080		34,156
Ganfeng Lithium Group Co. Ltd., Class H(a)(b)		9,880		63,217
Grand Pacific Petrochemical		47,000		27,518
Guangzhou Tinci Materials Technology Co. Ltd., Class A		5,000		25,760
Gubre Fabrikalari TAS*		833		9,640
Gujarat Fluorochemicals Ltd.		715		23,672
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.		38,269		275,867
Han Kuk Carbon Co. Ltd.		1,470		16,584
Hangzhou Oxygen Plant Group Co. Ltd., Class A		2,400		11,448
Hansol Chemical Co. Ltd.		141		21,681
Hanwha Solutions Corp.*		1,862		55,291
Hektas Ticaret TAS*		16,074		18,279


Investments	Shares		Value ($)
Hengli Petrochemical Co. Ltd., Class A*		14,100		30,699
Hengyi Petrochemical Co. Ltd., Class A*		14,100		14,402
Hoshine Silicon Industry Co. Ltd., Class A		1,900		19,136
Huabao International Holdings Ltd.(a)		17,000		7,303
Huafon Chemical Co. Ltd., Class A		33,500		34,875
Hunan Changyuan Lico Co. Ltd., Class A		784		1,226
Hyosung Advanced Materials Corp.		55		20,496
Hyosung TNC Corp.		98		26,102
Indorama Ventures PCL, NVDR		44,100		44,127
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd., Class A		23,500		14,698
Inner Mongolia Yuan Xing Energy Co. Ltd., Class A		14,100		14,797
ISU Chemical Co. Ltd.		641		11,667
Jiangsu Eastern Shenghong Co. Ltd., Class A		11,000		19,332
Jubilant Ingrevia Ltd.		2,701		13,620
Kansai Nerolac Paints Ltd.		3,294		13,433
KCC Corp.		106		17,630
Kimteks Poliuretan Sanayi ve Ticaret A/S		13,769		61,055
Kolon Industries, Inc.		674		27,338
Korea Petrochemical Ind Co. Ltd.		1,911		200,897
KuibyshevAzot PJSC‡		9,900		—
Kum Yang Co. Ltd.*		564		70,398
Kumho Petrochemical Co. Ltd.		441		41,552
Lake Materials Co. Ltd.*		1,715		27,178
Laxmi Organic Industries Ltd.(b)		2,107		6,905
LB Group Co. Ltd., Class A		4,700		12,495
Levima Advanced Materials Corp., Class A		8,200		28,030
LG Chem Ltd.		735		373,656
LG Chem Ltd. (Preference)		170		52,348
Linde India Ltd.*		282		17,100
Lotte Chemical Corp.		584		69,000
Lotte Chemical Titan Holding Bhd.(b)		245,000		61,943
LOTTE Fine Chemical Co. Ltd.		397		20,182
Luxi Chemical Group Co. Ltd., Class A		6,500		9,613
Mesaieed Petrochemical Holding Co.		68,381		36,633
Miwon Commercial Co. Ltd.		125		16,534
MNTech Co. Ltd.		833		16,305
Nan Pao Resins Chemical Co. Ltd.		13,000		74,459
Nan Ya Plastics Corp.		98,000		218,287
National Industrialization Co.*		5,584		21,017
Navin Fluorine International Ltd.		645		33,444
Ningxia Baofeng Energy Group Co. Ltd., Class A		10,600		21,002
Nizhnekamskneftekhim PJSC‡		28,600		—
Nizhnekamskneftekhim PJSC (Preference)‡		26,400		—


Investments	Shares		Value ($)
OCI Holdings Co. Ltd.		414		35,533
Omnia Holdings Ltd.*		71,932		238,644
Orbia Advance Corp. SAB de CV		29,933		68,083
Organichesky Sintez PJSC‡		11,550		—
Oriental Union Chemical Corp.		38,000		26,481
Petkim Petrokimya Holding A/S*		38,400		25,655
Petronas Chemicals Group Bhd.		88,200		135,948
PhosAgro PJSC‡		1,540		—
PI Advanced Materials Co. Ltd.		520		12,545
PI Industries Ltd.		1,239		54,467
Pidilite Industries Ltd.		2,401		76,335
PTT Global Chemical PCL, NVDR		48,700		56,200
Qinghai Salt Lake Industry Co. Ltd., Class A*		19,600		54,850
Rongsheng Petrochemical Co. Ltd., Class A		24,500		43,572
SABIC Agri-Nutrients Co.		3,907		150,173
Sahara International Petrochemical Co.		10,089		101,654
Sasa Polyester Sanayi A/S*		15,664		35,456
Sasol Ltd.		17,934		250,579
Satellite Chemical Co. Ltd., Class A		4,662		10,509
Saudi Aramco Base Oil Co.		784		30,970
Saudi Basic Industries Corp.		14,112		322,369
Saudi Industrial Investment Group		6,478		43,134
Saudi Kayan Petrochemical Co.*		12,054		39,392
Scientex Bhd.		34,300		27,081
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A		6,110		28,914
Shanghai Chlor-Alkali Chemical Co. Ltd., Class B		171,500		92,610
Shanghai Putailai New Energy Technology Co. Ltd., Class A		4,060		22,377
Shinkong Synthetic Fibers Corp.		49,000		26,740
Sichuan Hebang Biotechnology Co. Ltd., Class A		37,600		13,732
Sichuan Yahua Industrial Group Co. Ltd., Class A		3,600		8,976
Sinofert Holdings Ltd.		700,000		94,246
Sinoma Science & Technology Co. Ltd., Class A		4,700		15,211
Sinon Corp.		147,000		169,562
Sinopec Shanghai Petrochemical Co. Ltd., Class H*		98,000		14,954
SK Chemicals Co. Ltd.		196		9,764
SK IE Technology Co. Ltd.*(b)		349		29,379
SKC Co. Ltd.		294		22,881
Sociedad Quimica y Minera de Chile SA (Preference), Class B		4,067		298,011
Solar Applied Materials Technology Corp.		49,000		58,626
Solar Industries India Ltd.		405		18,714
Soulbrain Co. Ltd.		47		10,048
Soulbrain Holdings Co. Ltd.		2,646		56,152
SRF Ltd.		2,588		68,297
Sumitomo Chemical India Ltd.		2,585		12,974
Supreme Industries Ltd.		1,204		51,967
Supreme Petrochem Ltd.		3,456		18,610


Investments	Shares		Value ($)
Surya Esa Perkasa Tbk. PT		4,532,500		177,333
Taekwang Industrial Co. Ltd.		98		45,900
Taiwan Fertilizer Co. Ltd.		1,000		2,043
Tata Chemicals Ltd.		2,679		34,505
Tianqi Lithium Corp., Class A		5,600		52,147
Tianqi Lithium Corp., Class H		39,600		246,272
TKG Huchems Co. Ltd.		8,085		140,813
Tongkun Group Co. Ltd., Class A*		9,400		19,637
TSRC Corp.		245,000		195,679
Unipar Carbocloro SA (Preference), Class B		19,600		333,489
UPL Ltd.*		9,408		71,456
USI Corp.		22,000		16,311
Vinati Organics Ltd.		539		11,999
Wanhua Chemical Group Co. Ltd., Class A		4,900		67,027
Xinjiang Zhongtai Chemical Co. Ltd., Class A		10,600		10,976
Yanbu National Petrochemical Co.		3,528		43,070
Yunnan Energy New Material Co. Ltd., Class A*		1,200		16,203
Yunnan Yuntianhua Co. Ltd., Class A		4,700		12,140
Zangge Mining Co. Ltd., Class A		4,700		15,823
Zhejiang Longsheng Group Co. Ltd., Class A		24,500		33,150
Zhejiang Yongtai Technology Co. Ltd., Class A		2,800		6,034

				10,214,943

Commercial Services & Supplies - 0.2%
Allcargo Terminals Ltd.*		1,900		989
Beijing GeoEnviron Engineering & Technology, Inc., Class A		15,300		21,537
China Everbright Environment Group Ltd.(a)		98,000		38,955
Cleanaway Co. Ltd.		5,000		30,627
Dynagreen Environmental Protection Group Co. Ltd., Class H(a)(b)		165,000		55,644
Ecopro HN Co. Ltd.		376		26,814
Frontken Corp. Bhd.		42,300		30,395
GPS Participacoes e Empreendimentos SA(c)		14,100		51,663
Indian Railway Catering & Tourism Corp. Ltd.		6,370		49,617
KEPCO Plant Service & Engineering Co. Ltd.		100		2,652
PNB Holdings Corp.*		46,815		35,582
S-1 Corp.		347		13,938
Saudi Airlines Catering Co.		1,848		61,081
Sungeel Hitech Co. Ltd.*		98		10,795
Sunny Friend Environmental Technology Co. Ltd.		622		2,672
Taiwan Secom Co. Ltd.		3,165		11,028

				443,989

Communications Equipment - 0.5%
Accton Technology Corp.		9,000		109,398
Advanced Ceramic X Corp.		2,000		12,983


Investments	Shares		Value ($)
Arcadyan Technology Corp.		66,000		304,520
BYD Electronic International Co. Ltd.		11,000		42,174
Hengtong Optic-electric Co. Ltd., Class A		4,700		10,108
Intelbras SA Industria de Telecomunicacao Eletronica Brasileira		4,900		24,484
Intellian Technologies, Inc.		254		15,483
KMW Co. Ltd.*		563		5,221
Seojin System Co. Ltd.*		10,976		149,659
Sercomm Corp.		99,000		384,325
Sterlite Technologies Ltd.		6,627		12,102
Tejas Networks Ltd.*(b)		2,202		21,932
Tianjin 712 Communication & Broadcasting Co. Ltd., Class A		900		3,540
Wistron NeWeb Corp.		5,000		17,740
ZTE Corp., Class A		9,800		53,685
ZTE Corp., Class H		9,800		35,688

				1,203,042

Construction & Engineering - 1.3%
Acter Group Corp. Ltd.		49,000		236,218
BES Engineering Corp.		611,000		195,394
CH Karnchang PCL, NVDR		4,900		3,078
China Conch Venture Holdings Ltd.		49,000		61,197
China Energy Engineering Corp. Ltd., Class A		80,000		27,425
China Energy Engineering Corp. Ltd., Class H(a)		198,000		25,389
China Railway Group Ltd., Class A		45,200		50,786
China Railway Group Ltd., Class H		119,000		77,973
Continental Holdings Corp.		196,000		167,146
Daewoo Engineering & Construction Co. Ltd.*		3,901		13,833
DL E&C Co. Ltd.		799		19,181
Estithmar Holding QPSC*		30,456		18,240
Gamuda Bhd.		34,308		32,718
GEK Terna Holding Real Estate Construction SA*		1,470		23,242
GS Engineering & Construction Corp.		2,450		28,082
Guangdong No. 2 Hydropower Engineering Co. Ltd., Class A		4,900		4,484
HDC Hyundai Development Co-Engineering & Construction, Class E		15,974		129,832
Hyundai Engineering & Construction Co. Ltd.		2,280		66,898
IJM Corp. Bhd.		37,600		12,759
IRB Infrastructure Developers Ltd.		48,040		15,449
IRCON International Ltd.(b)		105,644		124,977
IS Dongseo Co. Ltd.*		6,223		165,504
Jeio Co. Ltd.*		931		23,482
Kalpataru Projects International Ltd.		3,479		26,822
KEC International Ltd.		6,962		53,653


Investments	Shares		Value ($)
KEPCO Engineering & Construction Co., Inc.		141		8,363
KNR Constructions Ltd.		6,325		19,022
Kontrolmatik Enerji ve Muhendislik A/S		736		5,737
Larsen & Toubro Ltd.*		10,841		353,422
Larsen & Toubro Ltd., GDR*(b)		296		9,679
Metallurgical Corp. of China Ltd., Class A		42,300		24,800
Metallurgical Corp. of China Ltd., Class H		106,000		26,640
NBCC India Ltd.		41,870		23,493
NCC Ltd.		212,239		409,518
PNC Infratech Ltd.(b)		2,700		11,363
Power Construction Corp. of China Ltd., Class A		34,100		28,628
Praj Industries Ltd.		6,061		31,525
PSG Corp. PCL, NVDR*		300,700		7,994
Rail Vikas Nigam Ltd.(b)		9,261		13,973
Ruentex Engineering & Construction Co.		26,000		85,215
Samsung Engineering Co. Ltd.*		4,067		118,055
Shaanxi Construction Engineering Group Corp. Ltd., Class A		4,900		3,476
Shanghai Construction Group Co. Ltd., Class A		23,500		9,766
Shanghai Tunnel Engineering Co. Ltd., Class A		14,100		12,469
Sichuan Road and Bridge Group Co. Ltd., Class A		20,440		28,257
Sino-Thai Engineering & Construction PCL, NVDR		39,100		12,451
Tekfen Holding A/S		76,832		127,888
United Integrated Services Co. Ltd.		2,000		14,033
Voltas Ltd.		3,969		37,645
Waskita Karya Persero Tbk. PT*‡		173,900		2,372
Yankey Engineering Co. Ltd.		19,559		174,260

				3,203,806

Construction Materials - 1.2%
ACC Ltd.		1,376		33,759
Ambuja Cements Ltd.		11,368		63,994
Anhui Conch Cement Co. Ltd., Class A		9,800		37,216
Anhui Conch Cement Co. Ltd., Class H		24,500		73,669
Arabian Cement Co.		2,310		24,075
Asia Cement Corp.		79,000		101,306
BBMG Corp., Class A		42,300		14,264
Berkah Beton Sadaya Tbk. PT*		425,000		1,409
Birla Corp. Ltd.		750		11,200
Bursa Cimento Fabrikasi A/S*		221,480		63,170
Cementos Argos SA		224,505		204,678
Cemex SAB de CV*		428,000		325,949
Chia Hsin Cement Corp.		20,400		13,534
China Jushi Co. Ltd., Class A		19,643		40,788
China National Building Material Co. Ltd., Class H		98,000		61,574


Investments	Shares		Value ($)
China Resources Cement Holdings Ltd.		68,000		29,472
City Cement Co.		4,208		25,574
CSG Holding Co. Ltd., Class B		4,700		1,603
Dalmia Bharat Ltd.		1,782		42,331
Eastern Province Cement Co.		1,199		14,462
GCC SAB de CV(a)		4,900		47,725
Goldsun Building Materials Co. Ltd.		27,000		22,639
Grasim Industries Ltd.		5,978		134,422
Grupo Argos SA		122,500		305,231
Grupo Argos SA (Preference)		76,737		123,517
Hanil Cement Co. Ltd.		11,662		111,712
Huaxin Cement Co. Ltd., Class A		3,700		7,207
Huaxin Cement Co. Ltd., Class H		10,400		10,108
JK Cement Ltd.		530		21,101
JK Lakshmi Cement Ltd.		2,744		20,331
Nuh Cimento Sanayi A/S		2,068		12,926
Nuvoco Vistas Corp. Ltd.*		3,650		16,517
Oyak Cimento Fabrikalari A/S*		12,338		25,660
POSCO Future M Co. Ltd.		499		206,310
Qassim Cement Co. (The)		1,998		36,748
Ramco Cements Ltd. (The)		2,289		24,663
Rhi Magnesita India Ltd.		1,850		14,503
Riyadh Cement Co.		1,967		17,433
Saudi Cement Co.		441		6,747
Semen Indonesia Persero Tbk. PT		29,417		13,606
Shree Cement Ltd.		196		57,451
Siam Cement PCL (The), NVDR		6,300		59,818
Siam City Cement PCL, NVDR		4,800		19,212
Southern Province Cement Co.		1,634		21,516
SSANGYONG C&E Co. Ltd.		4,263		17,692
Taiwan Cement Corp.		98,000		116,316
Tangshan Jidong Cement Co. Ltd., Class A		4,700		5,373
Tipco Asphalt PCL, NVDR		23,400		12,169
TPI Polene PCL, NVDR		1,950,300		82,049
UltraTech Cement Ltd.		1,813		183,356
Universal Cement Corp.		50,470		46,894
Yamama Cement Co.		3,763		36,059
Yanbu Cement Co.		2,888		30,792

				3,051,830

Consumer Finance - 1.0%
AEON Credit Service M Bhd.		44,100		117,756
Bajaj Finance Ltd.		4,263		378,379
BFI Finance Indonesia Tbk. PT		343,100		30,033
Capri Global Capital Ltd.		1,948		18,418
Cholamandalam Investment and Finance Co. Ltd.		7,595		104,540
CreditAccess Grameen Ltd.*		1,166		20,645
FinVolution Group, ADR		65,023		381,685
Gentera SAB de CV(a)		426,300		554,362
JMT Network Services PCL, NVDR		14,200		16,076
Krungthai Card PCL, NVDR		9,800		13,456
Mahindra & Mahindra Financial Services Ltd.		9,024		32,635
Manappuram Finance Ltd.		215,551		364,542


Investments	Shares		Value ($)
Muangthai Capital PCL, NVDR		9,300		9,645
Muthoot Finance Ltd.		2,226		36,548
Ngern Tid Lor PCL, NVDR		26,653		17,053
Poonawalla Fincorp Ltd.		5,720		27,248
Qifu Technology, Inc., Class A, ADR		3,871		77,265
Ratchthani Leasing PCL, NVDR		117,400		10,976
Samsung Card Co. Ltd.		539		12,051
SBI Cards & Payment Services Ltd.		4,949		51,467
Shriram Finance Ltd.		6,596		151,823
Srisawad Corp. PCL, NVDR		14,000		19,326
Sundaram Finance Ltd.		1,505		48,448
Transaction Capital Ltd.		267,197		101,718
Yulon Finance Corp.		4,673		28,177

				2,624,272

Consumer Staples Distribution & Retail - 1.2%
Abdullah Al Othaim Markets Co.		7,595		29,922
Aeon Co. M Bhd.		294,000		79,548
Al-Dawaa Medical Services Co.		2,401		65,023
Alibaba Health Information Technology Ltd.*		98,000		69,365
Almacenes Exito SA		66,346		77,556
Almunajem Foods Co.		7,791		145,578
Atacadao SA		9,400		27,111
Avenue Supermarts Ltd.*(b)		2,681		122,327
Berli Jucker PCL		14,300		14,622
BGF retail Co. Ltd.		141		18,540
Bid Corp. Ltd.		5,670		135,057
BIM Birlesik Magazalar A/S		13,261		106,426
Cencosud SA		44,247		95,029
Cia Brasileira de Distribuicao*		4,900		21,322
Clicks Group Ltd.		4,165		65,699
CP ALL PCL, NVDR		73,500		136,355
CP Axtra PCL, NVDR		28,900		29,129
Dada Nexus Ltd., ADR*		2,805		18,765
DaShenLin Pharmaceutical Group Co. Ltd., Class A		4,320		16,798
Dis-Chem Pharmacies Ltd.(b)		6,949		10,042
Dongsuh Cos., Inc.		859		12,205
E-MART, Inc.		392		23,280
Great Tree Pharmacy Co. Ltd.		1,257		16,739
Grupo Comercial Chedraui SA de CV		4,700		27,594
Grupo Mateus SA*		9,800		16,316
GS Retail Co. Ltd.		1,332		22,206
InRetail Peru Corp.(b)		406		13,642
JD Health International, Inc.*(a)(b)		17,150		123,808
La Comer SAB de CV		18,800		46,858
Magnit PJSC‡		2,296		—
Migros Ticaret A/S		1,410		15,447
Nahdi Medical Co.		611		28,306
Philippine Seven Corp.*		10,780		16,781
Pick n Pay Stores Ltd.(a)		6,784		14,683
Ping An Healthcare and Technology Co. Ltd.*(b)		9,600		25,173
President Chain Store Corp.		12,000		106,534
Puregold Price Club, Inc.		26,060		13,760
Raia Drogasil SA		19,864		120,970


Investments	Shares		Value ($)
Robinsons Retail Holdings, Inc.		195,510		194,175
Sendas Distribuidora SA		34,300		97,123
Shenzhen Pagoda Industrial Group Corp. Ltd.		24,500		16,650
Shoprite Holdings Ltd.		7,546		109,644
SMU SA		929,775		175,543
Sok Marketler Ticaret A/S*		13,475		22,750
SPAR Group Ltd. (The)		2,560		15,537
Sumber Alfaria Trijaya Tbk. PT		344,600		61,699
Sun Art Retail Group Ltd.		70,500		21,515
Wal-Mart de Mexico SAB de CV		83,300		347,663

				2,990,815

Containers & Packaging - 0.1%
Cheng Loong Corp.		49,000		53,870
Klabin SA		24,552		118,707
SCG Packaging PCL, NVDR		18,700		22,126
Taiwan Hon Chuan Enterprise Co. Ltd.		9,000		30,786
Ton Yi Industrial Corp.		21,000		11,895
Youlchon Chemical Co. Ltd.		470		13,293

				250,677

Distributors - 0.1%
Autohellas Tourist and Trading SA(a)		8,442		127,143
Sinomach Automobile Co. Ltd., Class A		30,700		37,415
Wuchan Zhongda Group Co. Ltd., Class A		13,800		9,906

				174,464

Diversified Consumer Services - 0.3%
Advtech Ltd.		24,310		25,426
China Education Group Holdings Ltd.(a)(b)		49,000		45,112
Cogna Educacao SA*		52,400		36,901
East Buy Holding Ltd.*(a)(b)		3,000		14,541
Fenbi Ltd.*		24,500		15,268
Fu Shou Yuan International Group Ltd.		49,000		37,824
Gaotu Techedu, Inc., ADR*		5,978		25,048
Humansoft Holding Co. KSC		3,251		38,110
Lung Yen Life Service Corp.*		24,000		28,333
MegaStudyEdu Co. Ltd.		2,940		113,250
National Co. for Learning & Education		735		20,140
New Oriental Education & Technology Group, Inc.*		24,500		144,040
Offcn Education Technology Co. Ltd., Class A*		4,700		3,012
TAL Education Group, ADR*		13,867		113,432

				660,437

Diversified REITs - 0.2%
Axis REIT, REIT		70,600		28,497
Concentradora Fibra Danhos SA de CV, REIT		14,700		19,319
Fibra Uno Administracion SA de CV, REIT		93,100		140,242
Growthpoint Properties Ltd., REIT		62,965		44,859


Investments	Shares		Value ($)
Is Gayrimenkul Yatirim Ortakligi A/S, REIT*		169,981		102,897
Redefine Properties Ltd., REIT		244,978		48,765
SK REITs Co. Ltd., REIT		4,508		16,127
Yuexiu REIT, REIT(a)		98,000		20,106

				420,812

Diversified Telecommunication Services - 1.0%
AL Yah Satellite Communications Co. PJSC		43,340		31,387
China Tower Corp. Ltd., Class H(b)		1,274,000		143,757
Chunghwa Telecom Co. Ltd.		57,000		210,396
CITIC Telecom International Holdings Ltd.		686,000		275,325
Converge Information and Communications Technology Solutions, Inc.*		281,200		51,709
Dayamitra Telekomunikasi PT		202,100		8,778
Emirates Telecommunications Group Co. PJSC		54,978		335,282
Hellenic Telecommunications Organization SA		5,635		89,155
HFCL Ltd.		34,742		26,949
Indus Towers Ltd.*		25,442		53,205
KT Corp.		3,590		83,085
LG Uplus Corp.		7,465		58,624
Magyar Telekom Telecommunications plc		164,542		196,144
Ooredoo QPSC		18,114		56,880
Operadora De Sites Mexicanos SAB de CV, Series A-1(a)		9,400		9,550
Rostelecom PJSC*‡		33,770		—
Rostelecom PJSC (Preference)‡		15,392		—
Sarana Menara Nusantara Tbk. PT		315,700		21,249
Saudi Telecom Co.		28,475		321,820
Sitios Latinoamerica SAB de CV*(a)		63,700		28,642
Tata Communications Ltd.		1,646		35,945
Tata Teleservices Maharashtra Ltd.*		24,255		23,326
Telefonica Brasil SA		9,800		86,751
Telekom Malaysia Bhd.		19,600		22,125
Telkom Indonesia Persero Tbk. PT		739,900		182,522
Telkom SA SOC Ltd.*(a)		126,616		209,321
TIME dotCom Bhd.		9,000		10,719
Tower Bersama Infrastructure Tbk. PT		42,300		5,414
Turk Telekomunikasyon A/S*		19,746		15,620

				2,593,680

Electric Utilities - 1.1%
Adani Transmission Ltd.*		4,459		44,493
Alupar Investimento SA		3,640		22,290
Can2 Termik A/S*		77,273		61,814
Centrais Eletricas Brasileiras SA		34,300		278,680
Centrais Eletricas Brasileiras SA (Preference), Class B		8,481		77,785
CESC Ltd.		267,197		254,369
CEZ A/S		2,842		126,207
Cia Energetica de Minas Gerais		4,700		18,219


Investments	Shares		Value ($)
Cia Energetica de Minas Gerais (Preference)		46,802		124,653
Cia Energetica do Ceara (Preference), Class A		4,900		53,923
Cia Paranaense de Energia		5,500		47,716
CPFL Energia SA		4,700		35,351
CTEEP-Cia de Transmissao de Energia Eletrica Paulista (Preference)		5,200		27,437
Enel Americas SA*		529,169		71,480
Enel Chile SA		829,052		57,169
Energisa SA		4,800		50,643
Enerjisa Enerji A/S(b)		7,676		14,467
Equatorial Energia SA		14,700		103,644
Federal Grid Co. - Rosseti PJSC (Registered)*‡		22,532,366		—
Inter RAO UES PJSC‡		1,596,292		—
Interconexion Electrica SA ESP		12,936		57,202
Korea Electric Power Corp.*		6,615		99,693
Manila Electric Co.		5,840		37,852
Mosenergo PJSC‡		4,455,000		—
Neoenergia SA		4,700		19,316
ODAS Elektrik Uretim ve Sanayi Ticaret A/S*		492,058		218,191
Power Grid Corp. of India Ltd.		93,345		301,943
Public Power Corp. SA*		3,381		40,110
RusHydro PJSC‡		2,361,000		—
Saudi Electricity Co.		23,618		141,270
SJVN Ltd.		214,571		149,615
Synergy Grid & Development Phils, Inc.		411,600		67,445
Tata Power Co. Ltd. (The)		26,117		75,161
Tenaga Nasional Bhd.		78,400		166,919
Torrent Power Ltd.		1,927		15,856
Transmissora Alianca de Energia Eletrica SA		5,000		37,839

				2,898,752

Electrical Equipment - 1.2%
ABB India Ltd.		1,044		57,790
AcBel Polytech, Inc.		40,294		71,160
Amara Raja Batteries Ltd.		4,361		33,661
Bharat Heavy Electricals Ltd.		21,300		26,946
Bizlink Holding, Inc.		2,071		19,932
CG Power & Industrial Solutions Ltd.		12,844		62,784
CS Wind Corp.		581		33,821
Dongfang Electric Corp. Ltd., Class A		5,000		13,461
Doosan Enerbility Co. Ltd.*		7,146		98,053
Doosan Fuel Cell Co. Ltd.*		690		14,724
Ecopro BM Co. Ltd.		828		272,178
ElSewedy Electric Co.		21,462		13,082
Fangda Carbon New Material Co. Ltd., Class A*		5,300		4,598
Farasis Energy Gan Zhou Co. Ltd., Class A*		784		2,417
Finolex Cables Ltd.		3,245		41,767
Fortune Electric Co. Ltd.		3,000		22,815


Investments	Shares		Value ($)
Goldwind Science & Technology Co. Ltd.		15,000		10,271
Goldwind Science & Technology Co. Ltd., Class A		23,100		36,201
GoodWe Technologies Co. Ltd., Class A		343		7,943
Gotion High-tech Co. Ltd., Class A*		4,600		17,726
Graphite India Ltd.		3,381		17,789
Gulf Cables & Electrical Industries Group Co. KSCP		4,140		16,582
Havells India Ltd.		4,450		72,178
HD Hyundai Electric Co. Ltd.		441		25,706
Hitachi Energy India Ltd.*		371		17,783
Hyosung Heavy Industries Corp.*		2,009		275,033
Jiangsu Zhongtian Technology Co. Ltd., Class A		4,500		9,911
Jiangxi Special Electric Motor Co. Ltd., Class A*		4,900		8,036
KEI Industries Ltd.		1,595		47,115
Korea Electric Terminal Co. Ltd.		2,597		117,763
LG Energy Solution Ltd.*		686		301,385
LS Corp.		889		84,321
LS Electric Co. Ltd.		490		40,633
Ming Yang Smart Energy Group Ltd., Class A		4,500		11,353
NARI Technology Co. Ltd., Class A		12,000		40,835
Ningbo Ronbay New Energy Technology Co. Ltd., Class A		658		4,621
Polycab India Ltd.		990		57,978
Pylon Technologies Co. Ltd., Class A		343		8,505
Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A/S		173,643		188,818
Shanghai Electric Group Co. Ltd., Class A*		24,000		16,018
Shijiazhuang Shangtai Technology Co. Ltd., Class A		5,000		37,290
SPG Co. Ltd.		686		17,195
Suzlon Energy Ltd.*		266,458		61,392
Ta Ya Electric Wire & Cable		26,250		31,448
Taihan Electric Wire Co. Ltd.*		2,058		21,022
Tatung Co. Ltd.*		49,000		77,180
TBEA Co. Ltd., Class A		11,050		25,326
Teco Electric and Machinery Co. Ltd.		22,000		37,662
Triveni Turbine Ltd.		6,484		31,534
V-Guard Industries Ltd.*		6,399		22,068
Voltronic Power Technology Corp.		1,000		55,685
Walsin Lihwa Corp.		55,665		70,851
WEG SA		24,500		205,598
XTC New Energy Materials Xiamen Co. Ltd., Class A		539		3,499
Zhejiang Chint Electrics Co. Ltd., Class A		4,700		18,618


Investments	Shares		Value ($)
Zhejiang HangKe Technology, Inc. Co., Class A		490		2,083

				2,942,144

Electronic Equipment, Instruments & Components - 4.2%
AAC Technologies Holdings, Inc.		1,000		2,280
AUO Corp.*		242,000		159,400
Aurora Corp.		11,900		28,854
BH Co. Ltd.		10,192		191,502
BOE Technology Group Co. Ltd., Class A		126,500		74,872
BOE Varitronix Ltd.		7,000		10,609
Chang Wah Electromaterials, Inc.		147,000		143,836
Cheng Uei Precision Industry Co. Ltd.		157,000		194,836
China Railway Signal & Communication Corp. Ltd., Class A		31,500		26,446
Chroma ATE, Inc.		8,000		70,259
Compeq Manufacturing Co. Ltd.		33,000		47,778
Cowell e Holdings, Inc.*		12,000		22,342
Daeduck Electronics Co. Ltd.		893		25,396
Daejoo Electronic Materials Co. Ltd.		250		19,751
DataTec Ltd.(a)		84,456		166,692
Delta Electronics Thailand PCL, NVDR		76,000		250,900
Delta Electronics, Inc.		34,000		395,431
Dreamtech Co. Ltd.		11,297		120,003
E Ink Holdings, Inc.		15,000		107,393
Elite Material Co. Ltd.		10,000		131,736
EM-Tech Co. Ltd.		5,635		165,560
Everdisplay Optronics Shanghai Co. Ltd., Class A*		75,780		28,205
FLEXium Interconnect, Inc.		1,000		2,956
Forth Corp. PCL, NVDR		14,600		13,010
Foxconn Industrial Internet Co. Ltd., Class A		34,300		107,170
Foxconn Technology Co. Ltd.		17,000		30,131
Genius Electronic Optical Co. Ltd.		2,237		27,939
Global Brands Manufacture Ltd.		128,800		210,251
GoerTek, Inc., Class A		3,800		9,518
Gold Circuit Electronics Ltd.		11,000		59,329
Hana Microelectronics PCL, NVDR		9,800		14,530
Hannstar Board Corp.		105,000		165,887
HannStar Display Corp.*		119,000		52,634
Hollysys Automation Technologies Ltd.*		23,765		416,600
Holy Stone Enterprise Co. Ltd.		68,250		211,744
Hon Hai Precision Industry Co. Ltd.		343,000		1,184,208
Honeywell Automation India Ltd.		32		16,727
Huagong Tech Co. Ltd., Class A		4,900		24,669
Innolux Corp.*		320,000		169,538
INTOPS Co. Ltd.		4,900		115,710
ITEQ Corp.		98,000		246,976
Jaymart Group Holdings PCL, NVDR		243,600		120,986
KCE Electronics PCL, NVDR		9,300		11,751


Investments	Shares		Value ($)
Kingboard Holdings Ltd.		24,500		67,857
Kingboard Laminates Holdings Ltd.		27,500		28,104
L&F Co. Ltd.		428		86,463
Largan Precision Co. Ltd.		1,000		69,209
LG Display Co. Ltd.*		6,360		67,310
LG Innotek Co. Ltd.		441		91,338
Lingyi iTech Guangdong Co., Class A		15,900		13,682
Lotes Co. Ltd.		1,332		31,619
Lotte Energy Materials Corp.		235		10,103
Luxshare Precision Industry Co. Ltd., Class A		9,800		44,319
Mcnex Co. Ltd.		657		14,020
MH Development Ltd.*‡		22,000		—
Nan Ya Printed Circuit Board Corp.		4,000		31,566
Nationgate Holdings Bhd.		362,600		124,646
Nex Point Parts PCL, NVDR*		47,500		14,987
Nichidenbo Corp.		98,000		166,210
OFILM Group Co. Ltd., Class A*		4,700		3,808
Pan-International Industrial Corp.		24,000		31,731
Park Systems Corp.		200		31,695
Primax Electronics Ltd.		23,000		47,205
Quest Holdings SA		10,437		74,798
Raytron Technology Co. Ltd., Class A		343		2,225
Redington Ltd.		245,882		539,005
Samsung Electro-Mechanics Co. Ltd.		1,666		190,041
Samsung SDI Co. Ltd.		882		460,150
Seronics Co. Ltd.*		2,352		77,130
Shanghai Friendess Electronic Technology Corp. Ltd., Class A		376		11,711
Shenzhen Kaifa Technology Co. Ltd., Class A		4,700		12,798
Simplo Technology Co. Ltd.		2,200		21,526
Sinbon Electronics Co. Ltd.		3,000		32,123
SOLUM Co. Ltd.*		588		12,801
Solus Advanced Materials Co. Ltd.		377		10,603
STCUBE*		1,739		18,418
Sunny Optical Technology Group Co. Ltd.		12,200		118,188
Supreme Electronics Co. Ltd.		176,331		271,007
Synnex Technology International Corp.		49,000		92,304
Taiwan Union Technology Corp.		119,000		473,327
Test Research, Inc.		55,000		106,757
Tong Hsing Electronic Industries Ltd.		7,831		39,247
TPK Holding Co. Ltd.		149,000		185,619
Tripod Technology Corp.		14,000		75,287
TXC Corp.		16,000		45,007
Unimicron Technology Corp.		49,000		287,671
Unisplendour Corp. Ltd., Class A		4,900		18,704
Unitech Printed Circuit Board Corp.*		290,000		162,872
Universal Scientific Industrial Shanghai Co. Ltd., Class A		4,700		9,503
VS Industry Bhd.		137,700		27,332
Wah Lee Industrial Corp.		68,640		176,479


Investments	Shares		Value ($)
Walsin Technology Corp.		9,378		28,319
Weikeng Industrial Co. Ltd.*		147,000		161,610
Wingtech Technology Co. Ltd., Class A		3,100		20,161
Wintek Corp.*‡		64,000		—
WPG Holdings Ltd.		49,440		79,289
WT Microelectronics Co. Ltd.*		14,000		30,560
WUS Printed Circuit Kunshan Co. Ltd., Class A		5,170		15,864
Yageo Corp.		8,347		122,045
Zhejiang Dahua Technology Co. Ltd., Class A		2,900		8,907
Zhejiang Supcon Technology Co. Ltd., Class A		1,771		13,429
Zhen Ding Technology Holding Ltd.		17,150		57,300

				10,662,334

Energy Equipment & Services - 0.2%
ADNOC Drilling Co. PJSC		38,963		41,795
Bumi Armada Bhd.*		1,386,700		159,921
China Oilfield Services Ltd., Class A		5,000		10,627
China Oilfield Services Ltd., Class H		28,000		33,031
COFCO Capital Holdings Co. Ltd., Class A		4,900		5,999
Dialog Group Bhd.		51,700		26,372
Gulf International Services QSC		375,438		213,505
Yinson Holdings Bhd.		35,800		20,246

				511,496

Entertainment - 0.9%
37 Interactive Entertainment Network Technology Group Co. Ltd., Class A		4,700		17,677
Alibaba Pictures Group Ltd.*		540,000		32,890
Bilibili, Inc., Class Z*(a)		3,920		71,879
CJ CGV Co. Ltd.*		8,918		65,067
CJ ENM Co. Ltd.*		392		19,775
CMGE Technology Group Ltd.*		98,000		22,619
Com2uSCorp		133		5,676
Devsisters Co. Ltd.*		235		6,941
Fire Rock Holdings Ltd.*‡(a)		106,000		1,903
Gamania Digital Entertainment Co. Ltd.		49,000		110,079
HYBE Co. Ltd.*		280		57,663
International Games System Co. Ltd.		4,000		78,023
iQIYI, Inc., ADR*(a)		7,595		48,152
JYP Entertainment Corp.		489		52,328
Kakao Games Corp.*		956		23,625
Kingsoft Corp. Ltd.		16,000		68,422
Krafton, Inc.*		588		79,252
MD Pictures Tbk. PT*		107,800		28,594
MNC Digital Entertainment Tbk. PT*		37,600		9,425
NCSoft Corp.		281		60,955
Neowiz*		470		12,721
NetDragon Websoft Holdings Ltd.		98,000		194,273


Investments	Shares		Value ($)
NetEase, Inc.		30,000		652,032
Netmarble Corp.*(b)		410		15,826
Nexon Games Co. Ltd.*		1,034		17,441
NHN Corp.*		630		12,406
Pearl Abyss Corp.*		517		22,714
Perfect World Co. Ltd., Class A		4,100		8,611
PVR Inox Ltd.*		3,087		58,442
Saregama India Ltd.*		500		819
Saregama India Ltd.		2,498		11,981
SM Entertainment Co. Ltd.		328		33,607
SMI Holdings Group Ltd.*‡		72,000		—
Studio Dragon Corp.*		188		7,448
Tencent Music Entertainment Group, ADR*		8,233		57,549
Tencent Music Entertainment Group, Class A*		4,700		16,332
Webzen, Inc.		5,880		67,673
Wemade Co. Ltd.		388		11,126
Wemade Max Co. Ltd.*		784		5,720
Wysiwyg Studios Co. Ltd.*		44,639		102,961
XD, Inc.*(b)		8,000		19,203
XPEC Entertainment, Inc.*‡		14,800		—
YG Entertainment, Inc.		605		36,120
Zhejiang Century Huatong Group Co. Ltd., Class A*		11,280		8,349

				2,234,299

Financial Services - 1.3%
Aavas Financiers Ltd.*		2,058		38,754
Aditya Birla Capital Ltd.*		8,967		21,347
Al Waha Capital PJSC		404,250		149,679
Alliance International Education Leasing Holdings Ltd.*(b)		21,000		13,491
Aptus Value Housing Finance India Ltd.		3,822		13,151
AVIC Industry-Finance Holdings Co. Ltd., Class A		23,500		13,515
Bajaj Finserv Ltd.		6,488		126,078
Bajaj Holdings & Investment Ltd.		574		52,645
Can Fin Homes Ltd.		4,876		44,546
Chailease Holding Co. Ltd.*		21,177		140,162
Cielo SA		32,900		32,644
Corp. Financiera Colombiana SA		39,053		154,485
CSSC Hong Kong Shipping Co. Ltd.(b)		686,000		124,908
E-Finance for Digital & Financial Investments		7,889		4,587
Far East Horizon Ltd.(a)		53,000		39,757
Fawry for Banking & Payment Technology Services SAE*		44,933		8,180
FirstRand Ltd.		161,406		660,645
Genertec Universal Medical Group Co. Ltd.(b)		318,500		171,529
Grupo de Inversiones Suramericana SA		2,695		25,680
Grupo de Inversiones Suramericana SA (Preference)		3,587		12,850
Home First Finance Co. India Ltd.(b)		1,225		12,959


Investments	Shares		Value ($)
Housing & Urban Development Corp. Ltd.		150,626		117,572
IIFL Finance Ltd.		3,626		26,017
Indian Railway Finance Corp. Ltd.(b)		34,250		15,907
Kakaopay Corp.*		398		15,675
L&T Finance Holdings Ltd.		11,562		18,542
LIC Housing Finance Ltd.		10,094		51,225
Meritz Financial Group, Inc.		2,990		115,410
Metro Pacific Investments Corp.		381,000		33,782
National Investments Co. KSCP		20,286		15,986
NICE Holdings Co. Ltd.		6,432		54,750
One 97 Communications Ltd.*		1,598		15,551
Piramal Enterprises Ltd.		2,112		25,980
PNB Housing Finance Ltd.*(b)		16,298		125,789
Power Finance Corp. Ltd.		35,812		113,816
REC Ltd.		30,647		75,622
Remgro Ltd.		16,121		145,747
Shandong Hi-Speed Holdings Group Ltd.*		49,500		36,052
Turkiye Sinai Kalkinma Bankasi A/S*		509,110		114,956
Yeahka Ltd.*		13,200		32,159
Yuanta Financial Holding Co. Ltd.		376,580		292,382

				3,304,512

Food Products - 2.7%
Adani Wilmar Ltd.*		2,491		12,475
Agthia Group PJSC		10,622		15,327
Alicorp SAA		194,432		383,064
Almarai Co. JSC		3,835		70,432
Anjoy Foods Group Co. Ltd., Class A		500		10,788
Astra Agro Lestari Tbk. PT		137,200		68,918
AVI Ltd.		14,737		58,770
Balrampur Chini Mills Ltd.		3,850		18,864
Beijing Dabeinong Technology Group Co. Ltd., Class A		5,300		5,251
Betagro PCL		24,400		15,897
Bombay Burmah Trading Co.		235		3,233
BRF SA*		357,700		733,890
Britannia Industries Ltd.		1,949		113,599
CCL Products India Ltd.		2,597		19,417
Century Pacific Food, Inc.		17,700		8,379
Charoen Pokphand Enterprise*		13,300		39,528
Charoen Pokphand Foods PCL, NVDR		83,300		49,403
Charoen Pokphand Indonesia Tbk. PT*		119,900		41,146
Cherkizovo Group PJSC‡		2,594		—
China Feihe Ltd.(b)		50,000		30,454
China Huiyuan Juice Group Ltd.*‡		24,000		—
China Mengniu Dairy Co. Ltd.		49,000		185,037
China Modern Dairy Holdings Ltd.		1,043,000		112,342
China Youran Dairy Group Ltd.(b)		490,000		111,839
Chongqing Fuling Zhacai Group Co. Ltd., Class A		3,120		8,242
CJ CheilJedang Corp.		223		48,986
CJ CheilJedang Corp. (Preference)		104		10,688


Investments	Shares		Value ($)
COFCO Joycome Foods Ltd.*(b)		1,176,000		325,716
Daesang Corp.		7,869		104,949
Dali Foods Group Co. Ltd.(a)(b)		23,500		10,938
Dongwon Industries Co. Ltd.		735		22,748
Foshan Haitian Flavouring & Food Co. Ltd., Class A		5,880		38,093
Garudafood Putra Putri Jaya Tbk. PT		463,100		14,433
Great Wall Enterprise Co. Ltd.		26,400		50,235
Gruma SAB de CV, Class B		3,765		67,710
Grupo Bimbo SAB de CV, Class A, Series A		21,500		111,745
Grupo Nutresa SA		1,692		22,136
Guan Chong Bhd.		29,400		14,345
Guangdong Haid Group Co. Ltd., Class A		3,400		23,958
Harim Holdings Co. Ltd.		19,793		116,151
Health & Happiness H&H International Holdings Ltd.		98,000		128,175
Heilongjiang Agriculture Co. Ltd., Class A		5,200		10,696
Henan Shuanghui Investment & Development Co. Ltd., Class A		5,000		17,658
Huishan Dairy*‡		158,000		—
Indofood CBP Sukses Makmur Tbk. PT		51,800		38,472
Indofood Sukses Makmur Tbk. PT		127,400		61,884
Inner Mongolia Yili Industrial Group Co. Ltd., Class A		8,200		32,884
IOI Corp. Bhd.		39,200		36,253
Japfa Comfeed Indonesia Tbk. PT		2,180,500		193,035
JBS SA		19,700		77,772
Kuala Lumpur Kepong Bhd.		14,731		76,187
Leong Hup International Bhd.(b)		485,100		56,482
Lien Hwa Industrial Holdings Corp.		17,302		35,180
Lotte Wellfood Co. Ltd.		1,617		120,515
M Dias Branco SA		4,900		42,984
Marfrig Global Foods SA		142,976		223,013
Marico Ltd.		8,820		60,111
Mayora Indah Tbk. PT		83,900		13,464
Minerva SA		107,800		228,651
Monde Nissin Corp.(b)		107,400		16,015
Muyuan Foods Co. Ltd., Class A		7,120		44,284
Nestle India Ltd.		588		161,235
Nestle Malaysia Bhd.		900		26,727
New Hope Liuhe Co. Ltd., Class A*		9,000		15,754
NongShim Co. Ltd.		56		17,442
Orion Corp.		520		46,303
Orion Holdings Corp.		10,731		117,189
Ottogi Corp.		15		4,195
Patanjali Foods Ltd.		1,030		16,668
PPB Group Bhd.		14,080		52,148
QL Resources Bhd.		25,395		30,864
RCL Foods Ltd.		80,115		47,302
Samyang Foods Co. Ltd.		141		13,385
Samyang Holdings Corp.		3,038		172,558
San Miguel Food and Beverage, Inc.		19,470		18,061


Investments	Shares		Value ($)
Sao Martinho SA		3,500		24,626
Sarawak Oil Palms Bhd.		78,400		45,381
Saudia Dairy & Foodstuff Co.		294		27,820
Savola Group (The)		5,311		59,883
Sawit Sumbermas Sarana Tbk. PT		1,367,100		108,335
Shree Renuka Sugars Ltd.*		30,100		16,798
Sime Darby Plantation Bhd.		54,403		54,898
SLC Agricola SA		4,900		44,962
SPC Samlip Co. Ltd.		980		50,743
Srinanaporn Marketing PCL, NVDR		19,500		12,305
Sumber Tani Agung Resources Tbk. PT		1,254,400		71,121
Taisun Enterprise Co. Ltd.		98,000		81,546
Taiwan TEA Corp.*		53,000		48,823
Tata Consumer Products Ltd.		10,407		108,728
Thai Union Group PCL, NVDR		58,800		23,191
Thai Vegetable Oil PCL, NVDR		44,000		32,458
Thaifoods Group PCL, NVDR		1,171,100		136,856
Tiger Brands Ltd.		1,666		14,908
Tingyi Cayman Islands Holding Corp.		30,000		46,315
Toly Bread Co. Ltd., Class A		5,640		8,326
Tres Tentos Agroindustrial SA		44,100		117,271
Triveni Engineering & Industries Ltd.		4,263		15,531
Ulker Biskuvi Sanayi A/S*		70,903		102,957
Uni-President Enterprises Corp.		98,000		234,815
United Plantations Bhd.		9,800		34,731
Universal Robina Corp.		13,530		30,201
Want Want China Holdings Ltd.		98,000		68,234
Yuan Longping High-tech Agriculture Co. Ltd., Class A*		5,100		11,660
Zad Holding Co.		3,286		12,277
Zhou Hei Ya International Holdings Co. Ltd.*(a)(b)		47,000		19,707
Zydus Wellnes Ltd.		882		15,756

				7,033,835

Gas Utilities - 0.6%
Adani Total Gas Ltd.		4,361		35,191
Aygaz A/S		27,146		119,667
Beijing Enterprises Holdings Ltd.		24,500		97,231
China Gas Holdings Ltd.		88,200		98,280
China Resources Gas Group Ltd.		24,200		83,473
ENN Energy Holdings Ltd.		20,100		241,627
ENN Natural Gas Co. Ltd., Class A		10,000		25,746
GAIL India Ltd.		67,522		97,775
Grupo Energia Bogota SA ESP		50,764		23,075
Gujarat Gas Ltd.		2,679		15,722
Gujarat State Petronet Ltd.		13,547		47,493
Indraprastha Gas Ltd.		4,564		25,698
Korea Gas Corp.*		999		19,437
Kunlun Energy Co. Ltd.		98,000		79,795
Mahanagar Gas Ltd.(b)		1,456		19,797
National Gas & Industrialization Co.		1,155		20,596
Perusahaan Gas Negara Tbk. PT		311,200		28,169
Petronas Gas Bhd.		14,700		55,683


Investments	Shares		Value ($)
Promigas SA ESP		127,498		154,459
Samchully Co. Ltd.		1,127		90,981
Towngas Smart Energy Co. Ltd.(a)		441,000		213,751

				1,593,646

Ground Transportation - 0.4%
BTS Group Holdings PCL, NVDR		119,640		28,312
Container Corp. of India Ltd.		4,480		37,840
Daqin Railway Co. Ltd., Class A		40,000		40,074
Full Truck Alliance Co. Ltd., ADR*(a)		10,535		78,907
GMexico Transportes SAB de CV(b)		9,400		22,455
Grupo Traxion SAB de CV*(a)(b)		9,800		21,058
Localiza Rent a Car SA		12,214		172,591
Lotte Rental Co. Ltd.		6,076		124,413
Rumo SA		19,600		95,754
SIMPAR SA		122,500		251,847
Theeb Rent A Car Co.		441		9,992
United International Transportation Co.		996		18,372
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA		5,500		13,805

				915,420

Health Care Equipment & Supplies - 0.2%
Classys, Inc.		784		18,852
Dentium Co. Ltd.		147		16,572
Eoflow Co. Ltd.*		799		17,520
Hartalega Holdings Bhd.		30,800		15,028
HLB, Inc.*		1,796		46,280
iRay Technology Co. Ltd., Class A		698		24,520
Jeisys Medical, Inc.*		1,942		17,018
Kangji Medical Holdings Ltd.		25,000		27,825
Kossan Rubber Industries Bhd.		68,600		21,756
Lifetech Scientific Corp.*		110,000		38,366
Microport Scientific Corp.*(a)		11,498		22,970
Qingdao Haier Biomedical Co. Ltd., Class A		539		3,598
SD Biosensor, Inc.		990		10,058
Shandong Weigao Group Medical Polymer Co. Ltd., Class H		36,000		46,346
Shanghai MicroPort Endovascular MedTech Group Co. Ltd., Class A		98		2,429
Sri Trang Gloves Thailand PCL, NVDR		68,600		14,430
St Shine Optical Co. Ltd.		2,000		13,747
Supermax Corp. Bhd.		695,800		130,395
TaiDoc Technology Corp.		3,000		17,660
Top Glove Corp. Bhd.*		68,600		13,997

				519,367

Health Care Providers & Services - 0.9%
Al Hammadi Holding		1,862		29,184
Apollo Hospitals Enterprise Ltd.		1,608		101,143
Aster DM Healthcare Ltd.*(b)		6,324		24,035
Bangkok Chain Hospital PCL, NVDR		20,800		10,817
Bangkok Dusit Medical Services PCL, NVDR		72,000		60,475
Bumrungrad Hospital PCL, NVDR		4,900		30,921


Investments	Shares		Value ($)
Celltrion Healthcare Co. Ltd.		1,579		81,511
Chabiotech Co. Ltd.*		2,303		22,693
China Meheco Co. Ltd., Class A		4,700		8,655
China Resources Medical Holdings Co. Ltd.		24,500		20,263
Chularat Hospital PCL, NVDR		101,400		8,591
CM Hospitalar SA		5,000		22,283
Dallah Healthcare Co.		585		27,507
Diagnosticos da America SA*		9,800		27,708
Dr Lal PathLabs Ltd.(b)		822		23,249
Dr Sulaiman Al Habib Medical Services Group Co.		1,411		108,695
Fleury SA		93,100		315,288
Fortis Healthcare Ltd.		11,593		48,748
Global Health Ltd.*		2,401		20,659
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H		12,000		35,929
Gushengtang Holdings Ltd.*		7,800		49,358
Hapvida Participacoes e Investimentos SA*(b)		78,400		79,108
HLB Life Science Co. Ltd.*		3,167		22,560
Huadong Medicine Co. Ltd., Class A		3,300		20,054
Hygeia Healthcare Holdings Co. Ltd.(b)		6,400		41,320
IHH Healthcare Bhd.		58,800		77,591
Jinxin Fertility Group Ltd.*(b)		73,500		42,411
KPJ Healthcare Bhd.		49,024		12,503
Krishna Institute of Medical Sciences Ltd.*(b)		1,650		38,393
Life Healthcare Group Holdings Ltd.		17,346		20,317
Max Healthcare Institute Ltd.*		11,515		83,287
Medikaloka Hermina Tbk. PT(b)		367,500		36,433
Meinian Onehealth Healthcare Holdings Co. Ltd., Class A*		9,400		9,510
Metro Healthcare Indonesia Tbk. PT*		286,700		9,791
Metropolis Healthcare Ltd.(b)		3,053		50,909
Middle East Healthcare Co.*		1,617		27,844
Mitra Keluarga Karyasehat Tbk. PT(b)		100,200		19,336
MLP Saglik Hizmetleri A/S, Class B*(b)		40,875		146,639
Mouwasat Medical Services Co.		688		46,031
Narayana Hrudayalaya Ltd.(b)		2,750		33,786
National Medical Care Co.		931		33,750
Netcare Ltd.		39,592		31,168
New Horizon Health Ltd.*(a)(b)		4,000		13,592
Odontoprev SA		5,390		13,891
Oncoclinicas do Brasil Servicos Medicos SA*		4,900		12,402
Rainbow Children’s Medicare Ltd.		1,030		13,825
Ramkhamhaeng Hospital PCL, NVDR		9,300		11,208
Rede D’Or Sao Luiz SA(b)		13,591		102,853
Selcuk Ecza Deposu Ticaret ve Sanayi A/S		2,597		4,265


Investments	Shares		Value ($)
Shanghai Pharmaceuticals Holding Co. Ltd., Class A		4,700		13,225
Shanghai Pharmaceuticals Holding Co. Ltd., Class H		24,500		44,359
Sikarin PCL, NVDR		44,000		14,012
Siloam International Hospitals Tbk. PT		165,000		21,336
Sinopharm Group Co. Ltd., Class H		39,200		122,897
Thonburi Healthcare Group PCL, NVDR		9,300		18,204
Topchoice Medical Corp., Class A*		500		8,067
Universal Vision Biotechnology Co. Ltd.*		2,100		26,161

				2,400,750

Health Care Technology - 0.0%(d)
Lunit, Inc.*		245		33,175

Hotels, Restaurants & Leisure - 2.1%
Abu Dhabi National Hotels		414,491		956,939
Alamar Foods		539		18,103
Alsea SAB de CV*		24,500		85,238
Ambassador Hotel (The)		54,000		88,492
Americana Restaurants International plc		41,699		43,594
Ananti, Inc.*		24,451		128,906
Asset World Corp. PCL, NVDR		171,900		22,499
Bloomberry Resorts Corp.*		93,100		20,103
Central Plaza Hotel PCL*		1,600		2,209
Central Plaza Hotel PCL, NVDR*		5,700		7,868
Chalet Hotels Ltd.*		2,891		17,188
China Travel International Investment Hong Kong Ltd.*(a)		122,000		26,907
DoubleUGames Co. Ltd.		3,675		115,614
Easy Trip Planners Ltd.*		16,003		7,890
EIH Ltd.*		8,250		21,265
Erawan Group PCL (The), NVDR*		137,100		18,986
Genting Bhd.		49,000		46,837
Genting Malaysia Bhd.		61,100		35,232
Grand Korea Leisure Co. Ltd.*		1,323		14,344
H World Group Ltd.*		24,500		116,080
Haichang Ocean Park Holdings Ltd.*(b)		54,000		8,032
Haidilao International Holding Ltd.(b)		21,164		59,296
Hana Tour Service, Inc.*		450		17,158
Helens International Holdings Co. Ltd.*(a)		6,500		7,310
Indian Hotels Co. Ltd., Class A		13,895		66,748
Jahez International Co.*		94		15,059
Jiumaojiu International Holdings Ltd.(a)(b)		14,000		27,358
Jollibee Foods Corp.		7,840		36,399
Jubilant Foodworks Ltd.		4,950		28,798
Kangwon Land, Inc.		2,240		27,415
Leejam Sports Co. JSC		1,155		45,380
Lemon Tree Hotels Ltd.*(b)		19,505		21,912
Lotte Tour Development Co. Ltd.*		1,961		15,031
Magnum Bhd.		465,494		113,560


Investments	Shares		Value ($)
Meituan, Class B*(b)		78,370		1,470,185
Minor International PCL, NVDR		50,500		48,687
MK Restaurants Group PCL, NVDR		4,800		6,486
Nayuki Holdings Ltd.*(b)		25,000		17,182
OPAP SA		4,103		72,425
Paradise Co. Ltd.*		421		4,743
Sapphire Foods India Ltd.*		800		13,355
Seera Group Holding*		6,600		50,666
Shenzhen Overseas Chinese Town Co. Ltd., Class A*		22,200		15,252
Smartfit Escola de Ginastica e Danca SA*		9,800		47,094
Sports Toto Bhd.		377,300		122,169
Sun International Ltd.		74,137		147,701
Tongcheng Travel Holdings Ltd.*(a)(b)		19,600		47,199
Travellers International Hotel Group, Inc.*‡		209,900		—
TravelSky Technology Ltd., Class H		3,000		5,732
Trip.com Group Ltd.*		8,650		345,392
Tsogo Sun Ltd.		225,547		158,534
Westlife Foodworld Ltd.*		3,000		34,146
Wowprime Corp.*		1,000		9,387
Yum China Holdings, Inc.		6,713		409,627
Zomato Ltd.*		81,438		83,271

				5,392,983

Household Durables - 1.2%
Amber Enterprises India Ltd.*		935		27,680
Arcelik A/S*		5,782		33,154
Bajaj Electricals Ltd.		2,173		33,334
Coway Co. Ltd.		1,177		37,859
Crompton Greaves Consumer Electricals Ltd.		7,896		28,215
Cyrela Brazil Realty SA Empreendimentos e Participacoes		112,700		564,323
Dixon Technologies India Ltd.(b)		663		33,227
Eureka Forbes Ltd.*		1,960		13,102
Gree Electric Appliances, Inc. of Zhuhai, Class A		14,700		79,725
Haier Smart Home Co. Ltd., Class A		10,600		36,635
Haier Smart Home Co. Ltd., Class H		30,600		99,859
Hanssem Co. Ltd.*		303		11,018
Kinpo Electronics		550,000		302,770
Konka Group Co. Ltd., Class B*		215,600		42,298
LG Electronics, Inc.		2,989		254,193
LG Electronics, Inc. (Preference)		584		22,358
Merry Electronics Co. Ltd.		98,000		284,085
MRV Engenharia e Participacoes SA		156,800		458,166
Nien Made Enterprise Co. Ltd.		3,000		31,025
PIK Group PJSC*‡		4,646		—
Shenzhen MTC Co. Ltd., Class A		39,600		29,312
Skyworth Group Ltd.		586,970		266,439
TCL Electronics Holdings Ltd.*		343,000		174,168


Investments	Shares		Value ($)
TCL Technology Group Corp., Class A*		41,360		24,827
TTK Prestige Ltd.		1,825		17,495
Vestel Beyaz Esya Sanayi ve Ticaret A/S		18,669		11,877
Vestel Elektronik Sanayi ve Ticaret A/S*		54,488		124,753
Whirlpool of India Ltd.*		674		11,958
Zinus, Inc.		3,717		72,902

				3,126,757

Household Products - 0.0%(d)
Jyothy Labs Ltd.		6,860		26,006
Kimberly-Clark de Mexico SAB de CV, Class A		24,500		57,676
Unilever Indonesia Tbk. PT		75,200		19,199
Vinda International Holdings Ltd.		3,000		6,047

				108,928

Independent Power and Renewable Electricity Producers - 1.3%
Aboitiz Power Corp.		34,200		22,447
Absolute Clean Energy PCL, NVDR*		279,200		15,253
ACEN Corp.*		103,400		9,827
ACWA Power Co.		2,058		101,156
Adani Green Energy Ltd.*		5,586		74,252
Adani Power Ltd.*		21,903		72,780
AES Brasil Energia SA		14,700		36,711
Aksa Enerji Uretim A/S, Class B		3,760		5,521
Auren Energia SA		5,000		14,715
B Grimm Power PCL, NVDR		19,500		22,076
Banpu Power PCL, NVDR		19,300		8,176
BCPG PCL, NVDR		78,300		22,075
Canvest Environmental Protection Group Co. Ltd.(b)		196,000		105,305
CECEP Solar Energy Co. Ltd., Class A		32,200		29,737
CGN New Energy Holdings Co. Ltd.		490,000		141,370
CGN Power Co. Ltd., Class A		44,000		19,147
CGN Power Co. Ltd., Class H(b)		343,000		84,005
China Longyuan Power Group Corp. Ltd., Class H		98,000		94,121
China National Nuclear Power Co. Ltd., Class A		40,700		41,630
China Power International Development Ltd.(a)		147,000		55,040
China Resources Power Holdings Co. Ltd.		54,000		116,743
China Three Gorges Renewables Group Co. Ltd., Class A		47,000		35,447
China Yangtze Power Co. Ltd., Class A		34,300		102,995
CK Power PCL, NVDR		112,600		11,382
Colbun SA		169,153		26,688
Datang International Power Generation Co. Ltd., Class H		128,000		22,814
Electricity Generating PCL, NVDR		4,900		19,111
Enel Generacion Peru SAA		10,152		11,268
Energy Absolute PCL, NVDR		29,100		52,710


Investments	Shares		Value ($)
Eneva SA*		19,600		55,087
Engie Brasil Energia SA		4,900		45,363
First Gen Corp.		142,100		52,519
Fujian Funeng Co. Ltd., Class A		12,740		14,867
GD Power Development Co. Ltd., Class A		42,500		21,944
Global Power Synergy PCL, NVDR		13,700		23,114
Guangdong Electric Power Development Co. Ltd., Class A*		4,900		4,916
Gulf Energy Development PCL, NVDR		96,700		140,549
Huadian Power International Corp. Ltd., Class A		26,500		21,061
Huadian Power International Corp. Ltd., Class H		38,000		16,810
Huaneng Lancang River Hydropower, Inc., Class A		15,000		14,734
Huaneng Power International, Inc., Class A*		43,200		51,984
Huaneng Power International, Inc., Class H*		100,000		55,394
Hubei Energy Group Co. Ltd., Class A*		4,700		3,045
Inner Mongolia MengDian HuaNeng Thermal Power Corp. Ltd., Class A		9,800		4,827
JSW Energy Ltd.		5,875		20,622
Malakoff Corp. Bhd.		681,600		97,501
Margun Enerji Uretim Sanayi ve Ticaret A/S		4,508		9,626
Mega First Corp. Bhd.		259,700		190,642
NHPC Ltd.		82,798		51,844
NLC India Ltd.		92,610		131,626
NTPC Ltd.		133,397		354,136
OGK-2 PJSC‡		11,431,280		—
Omega Energia SA*		73,500		180,928
Ratch Group PCL, NVDR		24,500		25,947
Shamal Az-Zour Al-Oula for the First Phase of Az-Zour Power Plant KSC		26,687		17,554
Shandong Hi-Speed New Energy Group Ltd.*		215,600		94,272
Shanghai Electric Power Co. Ltd., Class A		10,000		14,412
Shenergy Co. Ltd., Class A		4,900		4,649
Shenzhen Energy Group Co. Ltd., Class A		10,600		10,190
Sichuan Chuantou Energy Co. Ltd., Class A		9,400		19,019
Super Energy Corp. PCL, NVDR*		431,200		6,299
Terna Energy SA		1,276		24,606
TPI Polene Power PCL, NVDR		1,062,000		103,008
Unipro PJSC*‡		5,337,000		—
Wintime Energy Group Co. Ltd., Class A*		166,600		35,433
Zhejiang Zheneng Electric Power Co. Ltd., Class A*		63,100		42,557
Zorlu Enerji Elektrik Uretim A/S*		49,256		7,866

				3,343,453


Investments	Shares		Value ($)
Industrial Conglomerates - 2.2%
3M India Ltd.		69		24,264
Aamal Co.		663,019		160,655
Aboitiz Equity Ventures, Inc.		67,130		65,755
AG Anadolu Grubu Holding A/S		3,478		17,851
Alarko Holding A/S		2,646		10,230
Alfa SAB de CV, Class A		53,912		33,149
Alliance Global Group, Inc.		56,400		12,774
Alpha Dhabi Holding PJSC*		41,111		223,404
AntarChile SA		3,206		28,642
Apar Industries Ltd.		637		29,293
Astra Industrial Group		1,827		43,342
Astra International Tbk. PT		573,300		260,418
Ayala Corp.		4,190		46,916
Bidvest Group Ltd. (The)		5,247		81,875
China Baoan Group Co. Ltd., Class A		5,500		8,866
CITIC Ltd.		196,000		220,160
CJ Corp.		343		17,437
DMCI Holdings, Inc.		121,000		21,149
Doosan Co. Ltd.		352		29,410
Dubai Investments PJSC		38,220		25,285
Enka Insaat ve Sanayi A/S		53,350		66,611
Far Eastern New Century Corp.		98,000		92,616
Fosun International Ltd.		127,500		92,698
Godrej Industries Ltd.*		3,377		19,581
Grupo Carso SAB de CV, Series A1		9,800		78,124
GS Holdings Corp.		2,570		76,012
Hanwha Corp.		1,692		40,951
HAP Seng Consolidated Bhd.		11,900		8,973
Hong Leong Industries Bhd.		9,800		19,561
Hosken Consolidated Investments Ltd.		24,255		312,998
Hyosung Corp.		201		9,509
Industries Qatar QSC		31,838		116,594
International Holding Co. PJSC*		12,054		1,296,616
JG Summit Holdings, Inc.		34,311		26,893
KOC Holding A/S		28,781		144,297
LG Corp.		3,724		243,953
Lotte Corp.		1,392		27,793
LT Group, Inc.		98,000		17,129
LX Holdings Corp.		752		4,897
Multiply Group PJSC*		100,827		88,665
Mytilineos SA		2,799		116,837
Quinenco SA		8,136		28,299
Reunert Ltd.		68,453		231,413
Samsung C&T Corp.		2,554		206,981
San Miguel Corp.		13,510		26,786
Shanghai Industrial Holdings Ltd.		152,000		225,309
Siemens Ltd.		1,335		64,649
Sigdo Koppers SA		116,620		177,811
Sime Darby Bhd.		79,800		38,582
SK Square Co. Ltd.*		2,940		102,409
SK, Inc.		1,078		129,226
SM Investments Corp.		8,330		138,315


Investments	Shares		Value ($)
Sunway Bhd.		44,100		17,507
Turkiye Sise ve Cam Fabrikalari A/S		36,113		71,618

				5,721,088

Industrial REITs - 0.6%
Equites Property Fund Ltd., REIT(a)		341,285		218,008
ESR Kendall Square REIT Co. Ltd., REIT		3,896		12,119
FIBRA Macquarie Mexico, REIT(b)		298,900		581,426
Prologis Property Mexico SA de CV, REIT		9,400		34,910
TF Administradora Industrial S de RL de CV, REIT		318,500		649,299

				1,495,762

Insurance - 2.7%
Abu Dhabi National Insurance Co. PSC		116,179		185,985
Al Rajhi Co. for Co-operative Insurance*		705		26,948
Allianz Malaysia Bhd.		24,500		79,222
Anadolu Anonim Turk Sigorta Sirketi*		77,910		66,201
Bangkok Insurance PCL, NVDR		9,700		87,283
Bangkok Life Assurance PCL, NVDR		19,600		13,857
BB Seguridade Participacoes SA		9,800		64,110
Bupa Arabia for Cooperative Insurance Co.		327		15,044
Caixa Seguridade Participacoes SA		15,000		34,023
Capital Financial Indonesia Tbk. PT*		156,800		6,915
Cathay Financial Holding Co. Ltd.		294,000		427,999
Central Reinsurance Co. Ltd.*		48,927		37,365
China Development Financial Holding Corp.*		490,000		195,679
China Life Insurance Co. Ltd., Class H		199,000		347,032
China Pacific Insurance Group Co. Ltd., Class A		19,200		80,327
China Pacific Insurance Group Co. Ltd., Class H		58,800		157,580
China Taiping Insurance Holdings Co. Ltd.		31,800		35,312
Co. for Cooperative Insurance (The)		974		37,074
DB Insurance Co. Ltd.		1,421		84,169
Dhipaya Group Holdings PCL, NVDR		14,600		18,448
Discovery Ltd.*		8,388		74,519
Fubon Financial Holding Co. Ltd.		245,000		510,636
General Insurance Corp. of India*(b)		7,546		18,831
Hanwha Life Insurance Co. Ltd.*		12,318		22,855
HDFC Life Insurance Co. Ltd.(b)		14,357		112,911
Hyundai Marine & Fire Insurance Co. Ltd.		1,262		28,366


Investments	Shares		Value ($)
ICICI Lombard General Insurance Co. Ltd.(b)		3,611		60,828
ICICI Prudential Life Insurance Co. Ltd.(b)		5,670		39,949
Korean Reinsurance Co.		39,739		215,429
LPI Capital Bhd.		4,900		12,932
Max Financial Services Ltd.*		2,721		26,954
Mercuries & Associates Holding Ltd.		147,000		68,527
Mercuries Life Insurance Co. Ltd.*		147,000		24,557
Mirae Asset Life Insurance Co. Ltd.*		27,274		79,277
Momentum Metropolitan Holdings		40,751		43,446
New China Life Insurance Co. Ltd., Class A		4,700		29,870
New China Life Insurance Co. Ltd., Class H		24,500		70,685
Old Mutual Ltd.		128,282		93,847
OUTsurance Group Ltd.		10,487		22,804
PB Fintech Ltd.*		1,954		17,380
People’s Insurance Co. Group of China Ltd. (The), Class H		225,000		86,264
PICC Property & Casualty Co. Ltd., Class H		196,000		228,705
Ping An Insurance Group Co. of China Ltd., Class A		24,600		181,056
Ping An Insurance Group Co. of China Ltd., Class H		173,500		1,251,410
Porto Seguro SA		5,000		30,092
Qatar Insurance Co. SAQ*		665,322		407,601
Qualitas Controladora SAB de CV		4,900		36,152
Samsung Fire & Marine Insurance Co. Ltd.		995		190,468
Samsung Life Insurance Co. Ltd.		2,548		139,529
Sanlam Ltd.		48,755		180,312
Santam Ltd.		723		12,068
SBI Life Insurance Co. Ltd.(b)		7,378		115,013
Shin Kong Financial Holding Co. Ltd.*		441,000		135,135
Shinkong Insurance Co. Ltd.		82,000		141,161
Star Health & Allied Insurance Co. Ltd.*		1,470		11,374
Syarikat Takaful Malaysia Keluarga Bhd.		245,000		189,088
Thai Life Insurance PCL, NVDR		63,600		20,811
Tongyang Life Insurance Co. Ltd.*		13,123		36,343
Waterdrop, Inc., ADR*		7,350		13,598
ZhongAn Online P&C Insurance Co. Ltd., Class H*(a)(b)		11,000		35,826

				7,017,182

Interactive Media & Services - 2.7%
AfreecaTV Co. Ltd.		275		15,749
Autohome, Inc., Class A(a)		5,000		40,712
Baidu, Inc., Class A*		36,750		720,514
Connectwave Co. Ltd.*		882		7,612
Info Edge India Ltd.		1,318		73,506
JOYY, Inc., ADR		18,375		638,715
Kakao Corp.		4,998		201,151


Investments	Shares		Value ($)
Kuaishou Technology*(b)		29,400		253,335
Meitu, Inc.*(b)		98,000		35,562
NAVER Corp.		2,401		427,590
Tencent Holdings Ltd.		98,400		4,471,638
Weibo Corp., Class A(a)		1,960		29,807

				6,915,891

IT Services - 1.1%
Al Moammar Information Systems Co.		505		22,749
Arabian Internet & Communications Services Co.		573		55,748
Chinasoft International Ltd.(a)		6,000		3,739
Chindata Group Holdings Ltd., ADR*		4,935		39,776
Coforge Ltd.		517		29,567
Elm Co.		343		62,189
GDS Holdings Ltd., Class A*		14,700		24,202
Happiest Minds Technologies Ltd.		2,940		33,059
HCL Technologies Ltd.		17,003		230,852
Hyundai Autoever Corp.		94		11,283
Infosys Ltd.		57,646		950,175
Jasmine Technology Solution PCL, NVDR*		4,100		3,534
LTIMindtree Ltd.(b)		1,466		87,189
Mphasis Ltd.		833		23,243
Perfect Presentation For Commercial Services Co.		1,715		10,258
Persistent Systems Ltd.		920		53,065
Posco DX Co. Ltd.		2,080		56,706
Samsung SDS Co. Ltd.		1,176		118,370
Sonata Software Ltd.		2,854		36,667
Systex Corp.		13,000		48,605
Tata Consultancy Services Ltd.		16,415		682,844
Tech Mahindra Ltd.		10,486		142,217
Wipro Ltd.		21,413		105,452

				2,831,489

Leisure Products - 0.2%
Advanced International Multitech Co. Ltd.		49,000		122,397
Ferretti SpA		26,500		91,066
Giant Manufacturing Co. Ltd.		5,181		38,248
GOLFZON Co. Ltd.		1,715		129,972
Johnson Health Tech Co. Ltd.		2,000		4,951
Merida Industry Co. Ltd.		5,350		36,857

				423,491

Life Sciences Tools & Services - 0.2%
Divi’s Laboratories Ltd.		2,009		89,992
Genscript Biotech Corp.*(a)		20,000		51,188
Hangzhou Tigermed Consulting Co. Ltd., Class H(b)		4,900		31,667
LegoChem Biosciences, Inc.*		1,250		34,568
Samsung Biologics Co. Ltd.*(b)		343		206,126
ST Pharm Co. Ltd.		141		8,352
Syngene International Ltd.(b)		1,400		13,551
WuXi AppTec Co. Ltd., Class A		4,060		40,715
WuXi AppTec Co. Ltd., Class H(b)		4,918		46,382

				522,541


Investments	Shares		Value ($)
Machinery - 0.8%
AIA Engineering Ltd.		600		25,228
Airtac International Group		1,913		56,733
Ashok Leyland Ltd.		30,502		68,236
China CSSC Holdings Ltd., Class A		5,900		27,557
China International Marine Containers Group Co. Ltd., Class A		29,000		29,987
China International Marine Containers Group Co. Ltd., Class H		9,400		5,605
CIMC Enric Holdings Ltd.		30,000		30,120
CNPC Capital Co. Ltd., Class A		28,800		29,821
Craftsman Automation Ltd.		343		19,414
Creative & Innovative System*		2,703		26,401
CSBC Corp. Taiwan*		49,000		36,407
Cummins India Ltd.		2,376		56,856
Doosan Bobcat, Inc.		1,272		58,378
Elgi Equipments Ltd.		8,864		57,717
Enplus Co. Ltd.*		2,695		15,815
Escorts Kubota Ltd.		564		17,414
GMM Pfaudler Ltd.		490		8,776
Grindwell Norton Ltd.*		771		21,729
Haitian International Holdings Ltd.		16,000		39,843
Hana Technology Co. Ltd.*		245		22,854
Hanwha Ocean Co. Ltd.*		705		25,857
HD Hyundai Construction Equipment Co. Ltd.		392		25,126
HD Hyundai Heavy Industries Co. Ltd.*		282		30,907
HD Hyundai Infracore Co. Ltd.		3,822		36,941
HD Korea Shipbuilding & Offshore Engineering Co. Ltd.*		1,323		127,977
Hiwin Technologies Corp.		5,535		37,162
Hyundai Elevator Co. Ltd.		882		28,924
Hyundai Mipo Dockyard Co. Ltd.*		400		29,310
Hyundai Rotem Co. Ltd.*		1,175		28,899
Jiangsu Hengli Hydraulic Co. Ltd., Class A		4,600		46,162
Kangwon Energy Co. Ltd.*		637		12,219
Kaori Heat Treatment Co. Ltd.		1,000		10,819
Kinik Co.		6,000		26,443
KSB Ltd.		539		14,885
Lakshmi Machine Works Ltd.		294		50,438
LK Technology Holdings Ltd.(a)		22,000		23,612
Ningbo Deye Technology Co. Ltd., Class A		900		15,769
Otokar Otomotiv ve Savunma Sanayi A/S*		2,058		22,042
Pentamaster Corp. Bhd.		21,200		24,637
People & Technology, Inc.		441		27,125
Sam Engineering & Equipment M Bhd.		4,700		5,212
Samsung Heavy Industries Co. Ltd.*		14,188		100,512
Sany Heavy Equipment International Holdings Co. Ltd.		12,000		18,957
Sany Heavy Industry Co. Ltd., Class A		14,100		35,019
Schaeffler India Ltd.		846		32,100


Investments	Shares		Value ($)
SFA Engineering Corp.		704		20,325
Sinotruk Hong Kong Ltd.		24,500		51,270
SK oceanplant Co. Ltd.*		1,219		21,757
SKF India Ltd.		385		25,113
Sunonwealth Electric Machine Industry Co. Ltd.		16,000		67,204
Thermax Ltd.		944		29,838
Tian Di Science & Technology Co. Ltd., Class A		4,900		3,915
Timken India Ltd.		329		14,068
Turk Traktor ve Ziraat Makineleri A/S		793		20,704
UWC Bhd.		20,400		15,202
Weichai Power Co. Ltd., Class A		7,500		13,852
Weichai Power Co. Ltd., Class H		49,000		72,256
XCMG Construction Machinery Co. Ltd., Class A		52,200		51,639
Yangzijiang Shipbuilding Holdings Ltd.		73,500		85,246
Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A		10,800		42,086
Zhengzhou Coal Mining Machinery Group Co. Ltd., Class H		10,000		9,117
Zhuzhou CRRC Times Electric Co. Ltd., Class H		11,800		46,905
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A		17,700		17,064
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H		29,200		15,913

				2,115,419

Marine Transportation - 0.4%
Cia Sud Americana de Vapores SA		402,367		30,435
COSCO SHIPPING Holdings Co. Ltd., Class H		73,450		77,512
Evergreen Marine Corp. Taiwan Ltd.		29,023		96,046
Far-Eastern Shipping Co. plc*‡		302,500		—
HMM Co. Ltd.		6,517		89,423
Korea Line Corp.*		60,123		88,488
MISC Bhd.		22,400		35,719
Orient Overseas International Ltd.(a)		3,500		58,298
Pan Ocean Co. Ltd.		6,321		23,704
Precious Shipping PCL, NVDR		318,500		87,467
Qatar Navigation QSC		19,070		55,010
Regional Container Lines PCL, NVDR		92,800		65,068
Shanghai Zhonggu Logistics Co. Ltd., Class A		7,252		11,497
Shipping Corp. of India Land & Assets Ltd.*		61,005		20,063
Temas Tbk. PT		4,282,600		76,678
Transcoal Pacific Tbk. PT		14,100		6,218
U-Ming Marine Transport Corp.		14,000		18,933
Wan Hai Lines Ltd.		49,000		78,583
Wisdom Marine Lines Co. Ltd.		11,898		17,245
Yang Ming Marine Transport Corp.		52,000		76,941

				1,013,328


Investments	Shares		Value ($)
Media - 0.4%
Affle India Ltd.*		2,401		31,345
Arabian Contracting Services Co.		588		31,033
Astro Malaysia Holdings Bhd.		1,141,700		135,464
Cheil Worldwide, Inc.		3,632		51,717
China Literature Ltd.*(b)		6,200		27,984
China Science Publishing & Media Ltd., Class A		4,900		20,089
China South Publishing & Media Group Co. Ltd., Class A		14,200		22,551
Chinese Universe Publishing and Media Group Co. Ltd., Class A		12,600		22,320
Elang Mahkota Teknologi Tbk. PT		1,411,200		60,828
Focus Media Information Technology Co. Ltd., Class A		23,500		24,497
Grupo Televisa SAB, Series CPO(a)		49,514		52,530
Innocean Worldwide, Inc.		2,940		91,569
Jiangsu Phoenix Publishing & Media Corp. Ltd., Class A		15,100		22,143
Megacable Holdings SAB de CV(a)		14,100		35,869
MultiChoice Group		13,426		66,821
Network18 Media & Investments Ltd.*		84,378		59,758
Saudi Research & Media Group*		605		30,189
Surya Citra Media Tbk. PT		12,303,900		127,282
TY Holdings Co. Ltd.		5,341		29,289
VGI PCL, NVDR		127,300		10,860
Zee Entertainment Enterprises Ltd.		17,444		51,400

				1,005,538

Metals & Mining - 4.9%
Adaro Minerals Indonesia Tbk. PT*		120,400		7,385
African Rainbow Minerals Ltd.		3,822		43,144
Al Masane Al Kobra Mining Co.		1,029		22,189
Alrosa PJSC*‡		85,800		—
Aluminum Corp. of China Ltd., Class A		26,500		23,620
Aluminum Corp. of China Ltd., Class H		98,000		48,380
Aneka Tambang Tbk.		201,400		26,511
Angang Steel Co. Ltd., Class H		38,000		11,353
Anglo American Platinum Ltd.		1,470		73,602
AngloGold Ashanti Ltd.		6,811		151,128
APL Apollo Tubes Ltd.		3,361		65,135
Baoshan Iron & Steel Co. Ltd., Class A		58,800		52,821
Beijing Shougang Co. Ltd., Class A		10,600		5,962
Borusan Mannesmann Boru Sanayi ve Ticaret A/S*		11,858		137,002
Bradespar SA		14,700		67,582
Bradespar SA (Preference)		107,800		532,309
Bumi Resources Minerals Tbk. PT*		1,235,000		14,004
CAP SA		27,881		212,552
Century Iron & Steel Industrial Co. Ltd.		6,000		30,643
China Gold International Resources Corp. Ltd.		4,900		19,729
China Hongqiao Group Ltd.(a)		49,000		47,060


Investments	Shares		Value ($)
China Metal Recycling Holdings Ltd.*‡		51,000		—
China Nonferrous Mining Corp. Ltd.		49,000		25,824
China Northern Rare Earth Group High-Tech Co. Ltd., Class A		5,300		18,303
China Steel Corp.		202,000		179,654
China Zhongwang Holdings Ltd.*‡		699,600		—
Chung Hung Steel Corp.		23,000		17,675
Cia de Ferro Ligas da Bahia FERBASA (Preference)		19,600		209,100
Cia Siderurgica Nacional SA		19,600		57,024
Citic Pacific Special Steel Group Co. Ltd., Class A		10,600		24,829
CMOC Group Ltd., Class A		68,600		59,224
CMOC Group Ltd., Class H		147,000		98,016
Dongkuk Holdings Co. Ltd.		3,949		46,534
DRDGOLD Ltd.		10,054		10,990
Eregli Demir ve Celik Fabrikalari TAS*		40,376		62,528
EVERGREEN Steel Corp.		49,000		94,487
Ezz Steel Co. SAE*		77,322		100,012
Feng Hsin Steel Co. Ltd.		24,000		52,694
GEM Co. Ltd., Class A		5,300		5,221
Gerdau SA (Preference)		30,870		189,812
Gloria Material Technology Corp.		5,000		8,496
Gold Fields Ltd.		14,700		227,240
Grupo Mexico SAB de CV, Series B		88,200		459,627
Harmony Gold Mining Co. Ltd.		14,733		63,749
Henan Shenhuo Coal & Power Co. Ltd., Class A		5,500		12,098
Hesteel Co. Ltd., Class A		37,600		12,679
Hindalco Industries Ltd.		41,356		232,603
Hindustan Copper Ltd.		16,483		28,277
Huaibei Mining Holdings Co. Ltd., Class A		9,400		16,244
Hunan Valin Steel Co. Ltd., Class A		23,500		19,729
Hyundai Steel Co.		2,109		59,813
Impala Platinum Holdings Ltd.		25,210		182,869
Industrias CH SAB de CV, Class B, Series B*		1,147		13,673
Industrias Penoles SAB de CV*(a)		2,585		37,056
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A*		70,500		18,644
Inner Mongolia ERDOS Resources Co. Ltd., Class A		6,272		8,574
Inner Mongolia ERDOS Resources Co. Ltd., Class B		10,388		11,603
Jiangxi Copper Co. Ltd., Class A		9,400		26,292
Jiangxi Copper Co. Ltd., Class H		31,000		51,834
Jinchuan Group International Resources Co. Ltd.(a)		784,000		44,233
Jindal Stainless Ltd.		143,913		701,554
Jindal Steel & Power Ltd.		12,907		104,945
JSW Steel Ltd.		14,994		148,894
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S, Class A		4,508		3,563


Investments	Shares		Value ($)
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S, Class D		25,039		23,545
KG DONGBUSTEEL		12,103		81,184
Korea Zinc Co. Ltd.		196		75,961
Koza Altin Isletmeleri A/S		27,440		28,534
Koza Anadolu Metal Madencilik Isletmeleri A/S*		77,910		176,353
Kumba Iron Ore Ltd.		1,470		40,388
Lloyds Metals & Energy Ltd.		4,704		35,977
Maanshan Iron & Steel Co. Ltd., Class A		21,200		8,543
Maanshan Iron & Steel Co. Ltd., Class H		22,000		4,570
Magnitogorsk Iron & Steel Works PJSC*‡		45,174		—
Merdeka Copper Gold Tbk. PT*		230,462		53,642
Metalurgica Gerdau SA (Preference)		22,200		64,168
Minsur SA		133,182		147,087
MMC Norilsk Nickel PJSC*‡		2,090		—
MMG Ltd.*		4,000		1,462
National Aluminium Co. Ltd.		375,585		434,955
Nickel Asia Corp.		1,974,700		228,299
NMDC Ltd.		32,389		46,172
Northam Platinum Holdings Ltd.*		7,270		61,770
Novolipetsk Steel PJSC*‡		51,150		—
Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A*		14,100		8,109
PMB Technology Bhd.*		4,700		4,117
Polyus PJSC*‡		1,155		—
Poongsan Corp.		784		23,065
POSCO Holdings, Inc.		2,107		1,061,228
Posco M-Tech Co. Ltd.		931		26,769
Press Metal Aluminium Holdings Bhd.		58,800		65,725
Qatar Aluminum Manufacturing Co.		42,858		15,895
Raspadskaya OJSC*‡		4,240		—
Ratnamani Metals & Tubes Ltd.		1,291		41,967
Sam-A Aluminum Co. Ltd.		245		21,681
Saudi Arabian Mining Co.*		20,046		237,243
SeAH Besteel Holdings Corp.		5,733		126,386
SeAH Steel Holdings Corp.		691		111,132
Severstal PAO*‡		5,995		—
Shandong Gold Mining Co. Ltd., Class A		5,100		17,405
Shandong Gold Mining Co. Ltd., Class H(b)		12,250		24,410
Shandong Nanshan Aluminum Co. Ltd., Class A		18,800		8,523
Shanxi Meijin Energy Co. Ltd., Class A*		9,400		10,220
Shanxi Taigang Stainless Steel Co. Ltd., Class A		15,900		9,567
Shougang Fushan Resources Group Ltd.		1,372,000		394,076
Sibanye Stillwater Ltd.		79,331		150,867
Steel Authority of India Ltd.		46,172		53,106


Investments	Shares		Value ($)
TA Chen Stainless Pipe		58,800		73,906
Tata Steel Ltd.		223,293		334,334
TCC Steel		735		37,135
Tiangong International Co. Ltd.		490,000		160,219
Tianshan Aluminum Group Co. Ltd., Class A		10,600		10,412
Tongling Nonferrous Metals Group Co. Ltd., Class A		29,400		13,370
Tung Ho Steel Enterprise Corp.		17,050		30,328
United Co. RUSAL International PJSC‡		75,100		—
Usha Martin Ltd.*		6,762		27,747
Usinas Siderurgicas de Minas Gerais SA Usiminas (Preference), Class A		191,100		290,443
Vale Indonesia Tbk. PT		28,200		12,856
Vale SA		102,900		1,496,004
Vedanta Ltd.		29,204		97,999
VSMPO-AVISMA Corp. PJSC‡		53		—
Western Mining Co. Ltd., Class A		19,600		33,705
Western Superconducting Technologies Co. Ltd., Class A		1,052		7,788
Xiamen Tungsten Co. Ltd., Class A		3,900		10,401
YongXing Special Materials Technology Co. Ltd., Class A		3,800		28,797
Young Poong Corp.		294		132,625
Yunnan Aluminium Co. Ltd., Class A		6,300		13,082
Yunnan Copper Co. Ltd., Class A		19,300		32,676
Zhaojin Mining Industry Co. Ltd., Class H(a)		24,500		35,311
Zhejiang Huayou Cobalt Co. Ltd., Class A		2,140		15,071
Zijin Mining Group Co. Ltd., Class A		48,000		87,380
Zijin Mining Group Co. Ltd., Class H		196,000		335,769

				12,579,786

Multi-Utilities - 0.1%
Dubai Electricity & Water Authority PJSC		138,131		100,786
Power & Water Utility Co. for Jubail & Yanbu		1,225		25,273
Qatar Electricity & Water Co. QSC		9,126		45,505
YTL Corp. Bhd.		83,300		21,615
YTL Power International Bhd.		78,431		23,656

				216,835

Office REITs - 0.0%(d)
AREIT, Inc., REIT		30,000		18,134
Embassy Office Parks REIT, REIT		8,680		32,924
JR Global Reit, REIT		7,119		22,508
RL Commercial REIT, Inc., REIT		164,500		15,873
Shinhan Alpha REIT Co. Ltd., REIT		3,773		18,293

				107,732

Oil, Gas & Consumable Fuels - 4.8%
3R Petroleum Oleo E Gas SA*		86,132		643,675
ABM Investama Tbk. PT		215,600		52,327


Investments	Shares		Value ($)
Adaro Energy Indonesia Tbk. PT		382,300		61,097
Aegis Logistics Ltd.		4,841		22,484
AKR Corporindo Tbk. PT		140,000		12,858
Aldrees Petroleum and Transport Services Co.		1,760		56,015
Bangchak Corp. PCL, NVDR		14,000		15,645
Banpu PCL, NVDR		93,200		26,548
Bashneft PJSC‡		1,305		—
Bashneft PJSC (Preference)‡		1,163		—
Bayan Resources Tbk. PT		132,300		174,148
Bharat Petroleum Corp. Ltd.		28,410		130,394
Bukit Asam Tbk. PT		106,000		19,471
Bumi Resources Tbk. PT*		5,042,100		42,798
China Coal Energy Co. Ltd., Class A		16,100		18,923
China Coal Energy Co. Ltd., Class H		49,000		35,374
China Merchants Energy Shipping Co. Ltd., Class A		14,100		12,607
China Petroleum & Chemical Corp., Class A		104,900		91,004
China Petroleum & Chemical Corp., Class H		686,000		382,641
China Shenhua Energy Co. Ltd., Class A		19,600		77,832
China Shenhua Energy Co. Ltd., Class H		98,000		292,792
China Suntien Green Energy Corp. Ltd., Class H(a)		50,000		18,336
Coal India Ltd.		59,829		166,760
Cosan SA		34,300		143,774
COSCO SHIPPING Energy Transportation Co. Ltd., Class A		8,600		17,665
COSCO SHIPPING Energy Transportation Co. Ltd., Class H(a)		16,000		17,685
Dana Gas PJSC		1,432,515		381,817
Ecopetrol SA		146,461		86,453
Empresas Copec SA		10,437		80,002
Esso Thailand PCL, NVDR		494,900		136,634
Exxaro Resources Ltd.		6,125		55,802
Formosa Petrochemical Corp.		29,000		74,008
Gazprom PJSC‡		412,500		—
Great Eastern Shipping Co. Ltd. (The)		41,552		399,057
Guanghui Energy Co. Ltd., Class A		15,100		15,044
Harum Energy Tbk. PT		1,136,800		125,138
HD Hyundai Co. Ltd.		1,505		72,732
Helleniq Energy Holdings SA		1,316		11,724
Hibiscus Petroleum Bhd.		715,400		147,554
Hindustan Petroleum Corp. Ltd.		18,228		62,586
Indian Oil Corp. Ltd.		107,751		122,818
Indika Energy Tbk. PT		641,200		83,977
Indo Tambangraya Megah Tbk. PT		9,400		16,955
Inner Mongolia Dian Tou Energy Corp. Ltd., Class A		5,300		10,197
Inner Mongolia Yitai Coal Co. Ltd., Class B*		31,500		46,305
IRPC PCL, NVDR		401,800		28,642


Investments	Shares		Value ($)
Jinneng Holding Shanxi Coal Industry Co. Ltd., Class A		4,900		6,342
Jizhong Energy Resources Co. Ltd., Class A		28,300		26,016
LUKOIL PJSC‡		12,265		—
Mangalore Refinery & Petrochemicals Ltd.*		75,902		76,641
Medco Energi Internasional Tbk. PT		178,600		13,383
MOL Hungarian Oil & Gas plc		14,455		114,463
Motor Oil Hellas Corinth Refineries SA		1,645		41,715
Nanjing Tanker Corp., Class A*		9,800		4,388
Novatek PJSC‡		20,020		—
Oil & Natural Gas Corp. Ltd.		112,504		242,178
Oil India Ltd.		12,376		41,485
PetroChina Co. Ltd., Class H		588,000		429,010
Petroleo Brasileiro SA		102,900		752,977
Petroleo Brasileiro SA (Preference)		132,300		865,211
Petronas Dagangan Bhd.		4,900		24,951
Petronet LNG Ltd.		20,433		58,021
Petroreconcavo SA		49,000		236,809
Pingdingshan Tianan Coal Mining Co. Ltd., Class A		9,800		10,970
PRIO SA*		19,600		187,964
Productive Technologies Co. Ltd.*		90,000		6,693
PTT Exploration & Production PCL		39,600		184,529
PTT PCL, NVDR		230,300		235,489
Qatar Fuel QSC		8,595		39,669
Qatar Gas Transport Co. Ltd.		54,208		62,771
Rabigh Refining & Petrochemical Co.*		5,254		14,565
Reliance Industries Ltd.		55,811		1,729,828
Rosneft Oil Co. PJSC‡		74,042		—
Saudi Arabian Oil Co.(b)		39,948		345,004
Semirara Mining & Power Corp., Class A		42,200		22,166
Shaanxi Coal Industry Co. Ltd., Class A		24,500		55,673
Shan Xi Hua Yang Group New Energy Co. Ltd., Class A		7,050		8,020
Shandong Xinchao Energy Corp. Ltd., Class A*		4,900		1,776
Shanxi Coking Coal Energy Group Co. Ltd., Class A		9,400		11,943
Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A		6,200		14,175
Siamgas & Petrochemicals PCL, NVDR		226,500		54,261
Sinopec Kantons Holdings Ltd.		392,000		150,794
SK Discovery Co. Ltd.		4,851		136,436
SK Gas Ltd.		1,078		103,009
SK Innovation Co. Ltd.*		1,421		240,800
S-Oil Corp.		1,362		80,033
Star Petroleum Refining PCL, NVDR		33,500		8,564
Surgutneftegas PJSC‡		319,000		—
Surgutneftegas PJSC (Preference)‡		225,500		—


Investments	Shares		Value ($)
Tatneft PJSC‡		26,900		—
Tatneft PJSC (Preference)‡		3,870		—
Thai Oil PCL, NVDR		29,402		44,023
Thungela Resources Ltd.		4,116		30,882
Transneft PJSC (Preference)‡		55		—
Turkiye Petrol Rafinerileri A/S		26,656		102,360
Ultrapar Participacoes SA		21,538		85,526
United Tractors Tbk. PT		39,200		71,550
Vista Energy SAB de CV, ADR*		29,000		756,900
Yancoal Australia Ltd.(b)		9,400		31,098
Yankuang Energy Group Co. Ltd., Class A		7,950		19,734
Yankuang Energy Group Co. Ltd., Class H		69,000		103,517

				12,374,610

Paper & Forest Products - 0.4%
Century Plyboards India Ltd.		3,256		26,070
Century Textiles & Industries Ltd.		2,118		27,714
Dexco SA*		14,700		25,865
Dongwha Enterprise Co. Ltd.*		441		14,081
Empresas CMPC SA		25,344		49,993
Indah Kiat Pulp & Paper Tbk. PT		85,800		52,060
JK Paper Ltd.		31,997		128,515
Lee & Man Paper Manufacturing Ltd.		49,000		16,965
Longchen Paper & Packaging Co. Ltd.		293,967		159,020
Nine Dragons Paper Holdings Ltd.		55,000		36,038
Pabrik Kertas Tjiwi Kimia Tbk. PT		524,300		234,683
Sappi Ltd.		16,314		35,318
Shandong Sun Paper Industry JSC Ltd., Class A		9,400		15,810
Suzano SA		24,307		245,622
YFY, Inc.		41,000		48,076
Young Poong Paper Manufacturing Co. Ltd.		931		30,932

				1,146,762

Passenger Airlines - 0.5%
Aegean Airlines SA*		14,014		202,101
Aeroflot PJSC*‡		74,029		—
Air Arabia PJSC		64,974		47,585
Asiana Airlines, Inc.*		15,827		138,571
Azul SA (Preference)*		11,700		43,533
Bangkok Airways PCL, NVDR*		39,100		17,592
China Airlines Ltd.		61,000		48,429
China Eastern Airlines Corp. Ltd., Class A*		14,300		9,784
China Eastern Airlines Corp. Ltd., Class H*(a)		46,000		17,872
China Southern Airlines Co. Ltd., Class A*		14,100		13,791
China Southern Airlines Co. Ltd., Class H*		24,000		14,987
Controladora Vuela Cia de Aviacion SAB de CV, Class A*		36,400		43,891
Eva Airways Corp.		49,000		57,300
Hainan Airlines Holding Co. Ltd., Class A*		151,900		35,495


Investments	Shares		Value ($)
Hanjin Kal Corp.		637		21,189
InterGlobe Aviation Ltd.*(b)		1,875		59,110
Jazeera Airways Co. KSCP		4,053		26,395
Jeju Air Co. Ltd.*		1,962		20,103
Jin Air Co. Ltd.*		9,947		115,729
Korean Air Lines Co. Ltd.		5,096		98,350
Latam Airlines Group SA*		3,059,341		29,263
Pegasus Hava Tasimaciligi A/S*		1,081		33,827
Spring Airlines Co. Ltd., Class A*		4,100		35,081
Turk Hava Yollari AO*		19,635		170,852
Tway Air Co. Ltd.*		41,062		83,757

				1,384,587

Personal Care Products - 0.5%
Amorepacific Corp.		541		47,833
AMOREPACIFIC Group		611		13,134
Colgate-Palmolive India Ltd.		1,862		45,717
Cosmax, Inc.*		3,528		283,978
Dabur India Ltd.		10,829		75,784
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A/S		5,880		9,303
Emami Ltd.		931		5,240
Gillette India Ltd.		392		26,936
Godrej Consumer Products Ltd.*		6,174		77,764
Hengan International Group Co. Ltd.		24,500		100,687
Hindustan Unilever Ltd.		14,308		445,477
Hyundai Bioscience Co. Ltd.*		1,504		29,321
Kolmar BNH Co. Ltd.		931		12,504
Kolmar Korea Co. Ltd.		735		27,880
LG H&H Co. Ltd.		147		49,359
LG H&H Co. Ltd. (Preference)		43		6,126
Microbio Co. Ltd.		1,580		2,645
Natura & Co. Holding SA*		10,958		42,085
Procter & Gamble Hygiene & Health Care Ltd.		200		38,332
Sarantis SA		1,666		13,978
TCI Co. Ltd.		8,000		43,785

				1,397,868

Pharmaceuticals - 1.5%
Adcock Ingram Holdings Ltd.		32,438		100,777
Ajanta Pharma Ltd.		576		11,886
Alembic Pharmaceuticals Ltd.		3,400		32,012
Alkem Laboratories Ltd.		516		24,961
Aspen Pharmacare Holdings Ltd.		5,194		56,015
Asymchem Laboratories Tianjin Co. Ltd., Class A		700		12,204
Aurobindo Pharma Ltd.		3,871		38,699
Beijing Tong Ren Tang Chinese Medicine Co. Ltd.		5,000		8,873
Beijing Tongrentang Co. Ltd., Class A		4,700		33,559
Boryung		2,597		16,727
Bukwang Pharmaceutical Co. Ltd.*		1,431		7,488
CanSino Biologics, Inc., Class A		318		3,910
CanSino Biologics, Inc., Class H*(a)(b)		800		3,011
Caregen Co. Ltd.		141		24,170


Investments	Shares		Value ($)
Celltrion Pharm, Inc.*		136		9,464
Center Laboratories, Inc.		10,414		19,717
Changchun High & New Technology Industry Group, Inc., Class A		600		12,611
China Medical System Holdings Ltd.		49,000		82,309
China Resources Pharmaceutical Group Ltd.(b)		52,000		40,340
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A		4,000		28,046
Chong Kun Dang Pharmaceutical Corp.		107		6,481
Cipla Ltd.		8,967		128,102
CSPC Pharmaceutical Group Ltd.		146,080		121,566
Daewoong Co. Ltd.		9,849		100,449
Daewoong Pharmaceutical Co. Ltd.		49		3,921
Dong-A Socio Holdings Co. Ltd.		1,686		108,992
DongKook Pharmaceutical Co. Ltd.		2,205		23,613
Dr Reddy’s Laboratories Ltd.		2,141		146,825
Eris Lifesciences Ltd.(b)		1,617		15,565
Genomma Lab Internacional SAB de CV, Class B(a)		308,700		277,419
Gland Pharma Ltd.*(b)		971		15,436
GlaxoSmithKline Pharmaceuticals Ltd.		376		6,382
Glenmark Pharmaceuticals Ltd.		6,174		59,140
Grand Pharmaceutical Group Ltd.		33,000		18,745
Granules India Ltd.*		5,750		22,602
Hanall Biopharma Co. Ltd.*		1,666		31,303
Hanmi Pharm Co. Ltd.		100		20,908
Hanmi Science Co. Ltd.		671		16,766
Hansoh Pharmaceutical Group Co. Ltd.(b)		16,000		25,850
HK inno N Corp.		644		16,850
Hua Han Health Industry Holdings Ltd.*‡		3,780,000		—
Hubei Jumpcan Pharmaceutical Co. Ltd., Class A		3,100		11,430
Hypera SA		7,100		64,566
Il Dong Pharmaceutical Co. Ltd.*		511		6,559
Ipca Laboratories Ltd.		1,519		16,132
JB Chemicals & Pharmaceuticals Ltd.		1,677		50,996
Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A		8,400		52,398
Joincare Pharmaceutical Group Industry Co. Ltd., Class A		4,700		8,267
Kalbe Farma Tbk. PT		365,800		46,453
Komipharm International Co. Ltd.*		1,425		6,831
Laurus Labs Ltd.(b)		3,969		16,986
Livzon Pharmaceutical Group, Inc., Class H		3,930		13,405
Lotus Pharmaceutical Co. Ltd.*		2,000		18,233
Lupin Ltd.		3,234		38,748
Luye Pharma Group Ltd.*(b)		73,500		34,306
Natco Pharma Ltd.		8,120		82,332
Oneness Biotech Co. Ltd.		7,413		45,761
Oscotec, Inc.*		1,034		28,108


Investments	Shares		Value ($)
Pfizer Ltd.		341		16,558
Pharmally International Holding Co. Ltd.*‡		2,564		—
Piramal Pharma Ltd.*		23,814		30,228
Procter & Gamble Health Ltd.		400		26,157
Richter Gedeon Nyrt.		4,008		101,378
Sam Chun Dang Pharm Co. Ltd.*		517		25,877
Sanofi India Ltd.		392		33,442
Saudi Pharmaceutical Industries & Medical Appliances Corp.*		1,470		15,536
SciClone Pharmaceuticals Holdings Ltd.(b)		98,000		135,966
Shandong Sinobioway Biomedicine Co. Ltd., Class A*		17,600		45,461
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A*		3,800		16,855
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H(a)		8,000		21,029
Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A		4,700		16,408
Shin Poong Pharmaceutical Co. Ltd.*		432		6,039
Sihuan Pharmaceutical Holdings Group Ltd.		125,000		12,181
Sino Biopharmaceutical Ltd.		175,999		79,438
SK Biopharmaceuticals Co. Ltd.*		330		21,074
Sun Pharmaceutical Industries Ltd.		18,057		251,024
Suven Pharmaceuticals Ltd.		3,735		22,469
Torrent Pharmaceuticals Ltd.		1,434		34,920
TTY Biopharm Co. Ltd.		19,000		46,251
United Laboratories International Holdings Ltd. (The)		392,000		313,150
Yuhan Corp.		1,078		61,738
Yungjin Pharmaceutical Co. Ltd.*		1,602		3,111
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A		1,300		52,746
Zhejiang NHU Co. Ltd., Class A		14,400		33,246
Zydus Lifesciences Ltd.		4,844		37,236

				3,734,723

Professional Services - 0.1%
BLS International Services Ltd.		3,626		10,708
Computer Age Management Services Ltd.		1,007		28,857
CTOS Digital Bhd.		84,900		26,361
eClerx Services Ltd.		679		14,194
Firstsource Solutions Ltd.		6,900		12,122
L&T Technology Services Ltd.(b)		376		18,452
My EG Services Bhd.		87,557		14,855
NICE Information Service Co. Ltd.		686		5,048
RITES Ltd.		4,263		24,075
Sporton International, Inc.		3,150		24,106

				178,778

Real Estate Management & Development - 3.3%
Agile Group Holdings Ltd.*(a)		784,000		138,731
Aldar Properties PJSC		67,345		94,791
Aliansce Sonae Shopping Centers sa		14,700		75,121


Investments	Shares		Value ($)
A-Living Smart City Services Co. Ltd.*(a)(b)		269,500		191,791
Amata Corp. PCL, NVDR		29,300		20,116
Arabian Centres Co. Ltd.		676		4,123
Arriyadh Development Co.		2,145		11,458
Ayala Land, Inc.		83,300		41,555
Barwa Real Estate Co.		69,335		53,525
Bumi Serpong Damai Tbk. PT*		166,600		13,091
C&D International Investment Group Ltd.		17,845		48,510
Cencosud Shopping SA		11,750		21,414
Central Pattana PCL, NVDR		24,200		48,076
China Aoyuan Group Ltd.*‡(a)		713,000		—
China Dili Group*‡(a)		100,000		8,294
China Evergrande Group*‡(a)		66,000		—
China Jinmao Holdings Group Ltd.		98,000		15,959
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A		19,600		39,081
China Overseas Grand Oceans Group Ltd.(a)		49,000		24,944
China Overseas Land & Investment Ltd.		98,000		230,715
China Overseas Property Holdings Ltd.		30,000		35,044
China Resources Land Ltd.		98,000		453,640
China Resources Mixc Lifestyle Services Ltd.(a)(b)		10,000		48,085
China Vanke Co. Ltd., Class A		24,500		52,279
China Vanke Co. Ltd., Class H		58,800		82,786
Chong Hong Construction Co. Ltd.		98,000		247,912
Ciputra Development Tbk. PT		3,645,649		269,556
Commercial Real Estate Co. KSC		608,766		214,089
Corp. Inmobiliaria Vesta SAB de CV		5,869		21,347
Cosmopolitan International Holdings Ltd.*		94,000		13,741
Country Garden Holdings Co. Ltd.*(a)		294,000		59,564
Country Garden Services Holdings Co. Ltd.(a)		49,000		55,166
Dar Al Arkan Real Estate Development Co.*		7,655		34,525
DLF Ltd.		11,270		71,081
Eco World Development Group Bhd.		534,100		111,345
Emaar Development PJSC		25,382		43,811
Emaar Economic City*		9,847		23,623
Emaar Properties PJSC		175,175		322,398
Evergrande Property Services Group Ltd.*‡(b)		78,500		—
Fortress Real Estate Investments Ltd., Class A*(a)		59,094		42,733
Fortress Real Estate Investments Ltd., Class B*		46,844		13,381
Fu Hua Innovation Co. Ltd.*		57,000		103,384
Gemdale Corp., Class A*		14,100		17,026
Gemdale Properties & Investment Corp. Ltd.		2,156,000		127,170
Godrej Properties Ltd.*		1,764		37,329


Investments	Shares		Value ($)
Greenland Holdings Corp. Ltd., Class A*		83,300		37,764
Greentown China Holdings Ltd.		25,000		28,530
Hainan Airport Infrastructure Co. Ltd., Class A*		9,800		5,841
Hangzhou Binjiang Real Estate Group Co. Ltd., Class A*		4,300		6,498
Hanson International Tbk. PT*‡		2,409,275		—
Highwealth Construction Corp.		35,755		48,126
Hopson Development Holdings Ltd.*(a)		22,560		18,890
Huang Hsiang Construction Corp.		49,000		62,290
Hung Sheng Construction Ltd.		147,000		95,189
Iguatemi SA		4,900		22,537
IOI Properties Group Bhd.		52,800		16,043
Jinke Smart Services Group Co. Ltd., Class H*(b)		63,700		102,264
KE Holdings, Inc., ADR*		11,270		196,323
Kindom Development Co. Ltd.		147,400		143,289
King’s Town Construction Co. Ltd.*		2,000		1,979
LAMDA Development SA*		1,368		10,739
Land & Houses PCL, NVDR		83,200		20,661
Longfor Group Holdings Ltd.(b)		49,000		130,374
LSR Group PJSC, Class A‡		21,295		—
Mabanee Co. KPSC		14,439		41,516
Macrotech Developers Ltd.*(b)		4,067		37,548
MAS P.L.C.		199,430		234,937
Matrix Concepts Holdings Bhd.		392,000		123,451
MBK PCL, NVDR		30,344		14,539
Megaworld Corp.		4,410,000		164,597
Midea Real Estate Holding Ltd.(a)(b)		107,800		111,965
Multiplan Empreendimentos Imobiliarios SA*		5,000		27,759
National Real Estate Co. KPSC*		396,895		116,703
Oberoi Realty Ltd.		1,551		21,112
Origin Property PCL, NVDR		426,300		130,772
OSK Holdings Bhd.		406,700		99,217
Pakuwon Jati Tbk. PT		155,100		4,937
Parque Arauco SA		29,498		47,260
Phoenix Mills Ltd. (The)		1,600		33,669
Poly Developments and Holdings Group Co. Ltd., Class A		29,400		58,539
Poly Property Services Co. Ltd., Class H(b)		9,800		52,087
Prestige Estates Projects Ltd.		3,219		23,036
Prince Housing & Development Corp.		50,000		18,217
Pruksa Holding PCL, NVDR		259,700		100,151
Quality Houses PCL, NVDR		1,813,000		120,765
Radiance Holdings Group Co. Ltd.*(a)(b)		49,000		27,269
Red Star Macalline Group Corp. Ltd., Class A		14,700		10,840
Redco Properties Group Ltd.*‡(b)		294,000		49,642
Robinsons Land Corp.		769,306		210,097
Ruentex Development Co. Ltd.		49,400		55,960
Salhia Real Estate Co. KSCP		16,277		25,176


Investments	Shares		Value ($)
Sansiri PCL, NVDR		2,606,800		152,316
Saudi Real Estate Co.*		3,478		12,460
SC Asset Corp. PCL, NVDR		793,700		106,665
Seazen Group Ltd.*(a)		882,000		196,787
Seazen Holdings Co. Ltd., Class A*		4,700		10,812
Shanghai Jinqiao Export Processing Zone Development Co. Ltd., Class B		107,800		107,692
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B		4,900		3,288
Shanghai Zhangjiang High-Tech Park Development Co. Ltd., Class A		4,700		10,253
Shenzhen Investment Ltd.		980,000		194,776
Shimao Group Holdings Ltd.*‡		32,000		6,237
Shoucheng Holdings Ltd.		98,000		23,122
Shui On Land Ltd.		1,470,000		163,989
Sichuan Languang Justbon Services Group Co. Ltd., Class H*‡		26,500		—
Sime Darby Property Bhd.		1,293,600		175,005
Sinic Holdings Group Co. Ltd.*‡		318,000		—
SK D&D Co. Ltd.		2,744		44,347
SM Prime Holdings, Inc.		191,100		116,208
SOHO China Ltd.*		76,000		12,474
SP Setia Bhd. Group		592,900		82,840
Summarecon Agung Tbk. PT		227,900		9,974
Supalai PCL, NVDR		23,800		14,741
Talaat Moustafa Group		418,264		126,865
United Development Co. QSC		730,149		244,720
UOA Development Bhd.		23,200		9,622
WHA Corp. PCL, NVDR		117,490		17,025
Youngor Group Co. Ltd., Class A		34,200		34,168
Yuexiu Property Co. Ltd.		54,079		71,008
Yungshin Construction & Development Co. Ltd.		49,000		118,187
Zhejiang China Commodities City Group Co. Ltd., Class A		5,500		6,549
Zhuhai Huafa Properties Co. Ltd., Class A		4,900		7,535

				8,571,073

Residential REITs - 0.0%(d)
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S, REIT		63,896		20,621

Retail REITs - 0.4%
CPN Retail Growth Leasehold REIT, REIT		44,100		14,172
Hyprop Investments Ltd., REIT		154,693		277,919
IGB REIT, REIT		53,900		19,844
LOTTE Reit Co. Ltd., REIT		1,828		5,048
Pavilion REIT, REIT		15,000		4,059
Resilient REIT Ltd., REIT		125,396		304,751
Sunway REIT, REIT		53,900		18,050
Vukile Property Fund Ltd., REIT		376,516		276,717

				920,560

Semiconductors & Semiconductor Equipment - 6.1%
3peak, Inc., Class A		245		8,051


Investments	Shares		Value ($)
ADATA Technology Co. Ltd.		98,000		255,396
Advanced Wireless Semiconductor Co.*		10,000		29,370
Alchip Technologies Ltd.		2,000		126,645
Amlogic Shanghai Co. Ltd., Class A*		2,377		29,282
Andes Technology Corp.		3,379		49,298
Anji Microelectronics Technology Shanghai Co. Ltd., Class A		127		2,639
AP Memory Technology Corp.		4,000		48,558
Ardentec Corp.		147,000		288,607
ASE Technology Holding Co. Ltd.		98,000		357,055
ASPEED Technology, Inc.		1,000		73,823
Borosil Renewables Ltd.*		1,880		11,486
Cambricon Technologies Corp. Ltd., Class A*		1,274		29,237
China Resources Microelectronics Ltd., Class A		1,350		10,833
Chipbond Technology Corp.		8,000		17,667
D&O Green Technologies Bhd.		15,300		13,335
Dagang NeXchange Bhd.*		1,161,300		122,337
Daqo New Energy Corp., ADR*		1,568		61,262
DB HiTek Co. Ltd.		1,396		64,617
Duk San Neolux Co. Ltd.*		423		13,374
Elite Semiconductor Microelectronics Technology, Inc.		3,000		7,446
eMemory Technology, Inc.		1,000		59,027
Ennostar, Inc.*		7,000		11,015
Eo Technics Co. Ltd.		392		49,206
Episil Technologies, Inc.		6,292		15,877
Eugene Technology Co. Ltd.		686		19,725
Everlight Electronics Co. Ltd.		196,000		323,689
Faraday Technology Corp.		4,000		41,494
Flat Glass Group Co. Ltd., Class A		3,600		17,656
Flat Glass Group Co. Ltd., Class H		7,000		20,779
FocalTech Systems Co. Ltd.		17,000		38,678
Formosa Sumco Technology Corp.		1,000		5,075
Foxsemicon Integrated Technology, Inc.		40,000		234,834
GCL System Integration Technology Co. Ltd., Class A*		9,800		4,210
GCL Technology Holdings Ltd.		539,000		116,803
GemVax & Kael Co. Ltd.*		920		9,412
GigaDevice Semiconductor, Inc., Class A		1,440		23,127
Global Mixed Mode Technology, Inc.		31,000		200,738
Global Unichip Corp.		1,000		52,026
Globalwafers Co. Ltd.		5,000		81,778
HAESUNG DS Co. Ltd.		4,704		284,163
Hana Materials, Inc.		318		12,012
Hangzhou First Applied Material Co. Ltd., Class A		3,724		18,217
Hangzhou Silan Microelectronics Co. Ltd., Class A		2,900		12,429
Hanmi Semiconductor Co. Ltd.		931		35,424
HD Hyundai Energy Solutions Co. Ltd.		2,156		58,355
Hua Hong Semiconductor Ltd.*(b)		18,000		60,933


Investments	Shares		Value ($)
Inari Amertron Bhd.		39,200		26,255
Innox Advanced Materials Co. Ltd.		784		27,647
ISC Co. Ltd.		490		39,557
JA Solar Technology Co. Ltd., Class A		5,292		24,621
Jentech Precision Industrial Co. Ltd.*		2,199		37,156
Jinko Solar Co. Ltd., Class A		3,283		5,710
Jusung Engineering Co. Ltd.		15,092		329,155
King Yuan Electronics Co. Ltd.		49,000		98,229
Kinsus Interconnect Technology Corp.		4,000		13,174
Koh Young Technology, Inc.		1,692		18,345
LEENO Industrial, Inc.		94		12,433
LONGi Green Energy Technology Co. Ltd., Class A		10,448		43,638
LX Semicon Co. Ltd.		235		18,860
Macronix International Co. Ltd.		49,000		48,647
Marketech International Corp.		39,000		176,841
MediaTek, Inc.		49,000		1,075,844
Montage Technology Co. Ltd., Class A		1,692		13,713
Nanya Technology Corp.		10,000		23,006
NAURA Technology Group Co. Ltd., Class A		900		35,743
NEXTIN, Inc.		265		17,796
Novatek Microelectronics Corp.		16,000		215,869
Nuvoton Technology Corp.		4,000		17,819
Pan Jit International, Inc.		8,000		18,507
Parade Technologies Ltd.		1,400		40,984
Phison Electronics Corp.		1,000		13,014
Powerchip Semiconductor Manufacturing Corp.		49,000		46,698
Powertech Technology, Inc.*		20,000		70,323
Radiant Opto-Electronics Corp.		14,330		54,946
Realtek Semiconductor Corp.		6,070		83,151
RFHIC Corp.		282		4,057
S&S Tech Corp.		423		17,987
Sanan Optoelectronics Co. Ltd., Class A		15,700		37,280
SDI Corp.		8,000		27,111
Seoul Semiconductor Co. Ltd.		1,911		17,541
SFA Semicon Co. Ltd.*		3,381		16,260
Shanghai Aiko Solar Energy Co. Ltd., Class A		9,800		35,323
Shanghai Fudan Microelectronics Group Co. Ltd., Class A		1,050		8,158
Shanghai Fudan Microelectronics Group Co. Ltd., Class H(a)		4,000		10,643
Shenzhen Xinyichang Technology Co. Ltd., Class A		196		3,445
Sigurd Microelectronics Corp.		196,000		329,925
Silergy Corp.		5,000		52,503
Silicon Integrated Systems Corp.		269,000		172,905
SIMMTECH Co. Ltd.		8,918		257,469
Sino-American Silicon Products, Inc.		20,000		109,144
SK Hynix, Inc.		15,288		1,480,045
Taiwan Mask Corp.		7,000		16,906


Investments	Shares		Value ($)
Taiwan Semiconductor Co. Ltd.		9,000		25,288
Taiwan Semiconductor Manufacturing Co. Ltd.		309,000		5,555,343
Taiwan Surface Mounting Technology Corp.		1,000		2,876
Taiwan-Asia Semiconductor Corp.		13,000		22,296
TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A		5,875		23,913
Tokai Carbon Korea Co. Ltd.		86		6,686
Tongwei Co. Ltd., Class A		14,700		71,579
Topco Scientific Co. Ltd.		2,704		15,445
TSEC Corp.		26,708		26,515
Unigroup Guoxin Microelectronics Co. Ltd., Class A		1,679		21,914
Unisem M Bhd.		14,700		10,237
United Microelectronics Corp.		343,000		512,975
Vanguard International Semiconductor Corp.		6,000		14,758
Verisilicon Microelectronics Shanghai Co. Ltd., Class A*		2,489		23,996
Visual Photonics Epitaxy Co. Ltd.		1,000		4,216
ViTrox Corp. Bhd.		4,700		8,182
Wafer Works Corp.		11,511		15,567
Will Semiconductor Co. Ltd. Shanghai, Class A		2,025		29,071
Win Semiconductors Corp.		6,961		36,326
Winbond Electronics Corp.*		98,000		91,525
WONIK IPS Co. Ltd.		329		9,744
Wonik QnC Corp.		6,615		153,614
Xinjiang Daqo New Energy Co. Ltd., Class A		5,488		31,653
XinTec, Inc.		3,000		11,933
Xinyi Solar Holdings Ltd.		98,000		105,556

				15,502,591

Software - 0.3%
360 Security Technology, Inc., Class A*		9,800		16,277
Ahnlab, Inc.		190		9,361
AsiaInfo Technologies Ltd.(b)		21,200		29,848
Beijing Kingsoft Office Software, Inc., Class A		611		34,710
Beijing Shiji Information Technology Co. Ltd., Class A*		6,370		12,407
Birlasoft Ltd.		5,390		27,999
Cyient Ltd.		4,410		78,660
Dear U Co. Ltd.*		423		12,279
Douzone Bizon Co. Ltd.		873		18,766
EMRO, Inc.*		294		18,706
Hundsun Technologies, Inc., Class A		4,550		26,179
Iflytek Co. Ltd., Class A		4,900		43,112
Intellect Design Arena Ltd.		4,762		39,060
Kingdee International Software Group Co. Ltd.*		49,000		85,199
KPIT Technologies Ltd.		2,397		31,555
Ming Yuan Cloud Group Holdings Ltd.*(a)		60,000		35,929


Investments	Shares		Value ($)
NavInfo Co. Ltd., Class A*		4,700		7,372
Oracle Financial Services Software Ltd.		282		13,324
Qi An Xin Technology Group, Inc., Class A*		539		3,824
Route Mobile Ltd.		954		17,400
Shanghai Baosight Software Co. Ltd., Class A		4,212		28,301
Shanghai Baosight Software Co. Ltd., Class B		8,291		21,391
Tanla Platforms Ltd.		1,963		28,584
Tata Elxsi Ltd.		637		55,448
TOTVS SA		4,900		30,458
Weimob, Inc.*(a)(b)		87,000		46,742
Yonyou Network Technology Co. Ltd., Class A		4,700		12,410

				785,301

Specialty Retail - 1.5%
Abu Dhabi National Oil Co. for Distribution PJSC		48,412		51,403
Ali Alghanim Sons Automotive Co. KSCC		53,361		203,818
Aurora Design PCL, NVDR		29,300		14,723
Bermaz Auto Bhd.		56,000		25,460
China Tourism Group Duty Free Corp. Ltd., Class A		2,500		43,995
China Tourism Group Duty Free Corp. Ltd., Class H(a)(b)		200		3,188
China Yongda Automobiles Services Holdings Ltd.		563,500		257,230
Chow Tai Fook Jewellery Group Ltd.		42,600		73,962
Com7 PCL, NVDR		9,300		7,608
Cuckoo Homesys Co. Ltd.		2,156		36,451
Detsky Mir PJSC*‡(b)		258,500		—
Dogan Sirketler Grubu Holding A/S		39,249		19,372
Dogus Otomotiv Servis ve Ticaret A/S		893		8,208
EEKA Fashion Holdings Ltd.		98,000		165,371
Foschini Group Ltd. (The)		11,025		67,196
FSN E-Commerce Ventures Ltd.*		5,978		10,459
Go Fashion India Ltd.*		1,029		14,816
HLA Group Corp. Ltd., Class A		4,900		5,122
Home Product Center PCL, NVDR		78,600		32,608
Hotai Motor Co. Ltd.*		6,000		144,719
Hotel Shilla Co. Ltd.		470		27,765
Italtile Ltd.		261,409		182,271
Jarir Marketing Co.		8,390		34,664
JUMBO SA		2,303		68,913
K Car Co. Ltd.		176		1,711
Lojas Renner SA		29,400		115,881
M.Video PJSC*‡		31,680		—
Map Aktif Adiperkasa PT		2,744,000		147,390
Metro Brands Ltd.		1,128		14,181
Motus Holdings Ltd.		75,019		444,999
Mr Price Group Ltd.		3,185		28,199
Padini Holdings Bhd.		29,400		25,951
Pan German Universal Motors Ltd.		9,000		90,210


Investments	Shares		Value ($)
Pepkor Holdings Ltd.(b)		25,185		24,613
Pop Mart International Group Ltd.(a)(b)		9,800		27,583
PTG Energy PCL, NVDR		39,100		12,337
PTT Oil & Retail Business PCL, NVDR		29,400		18,381
Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A		9,400		9,996
Shinsegae International, Inc.		5,733		74,032
Siam Global House PCL, NVDR		40,566		19,555
Super Group Ltd.		146,363		282,541
Topsports International Holdings Ltd.(b)		99,000		90,765
Truworths International Ltd.		172,627		696,866
United Electronics Co.		1,619		35,171
Vibra Energia SA		29,400		105,868
Wilcon Depot, Inc.		34,300		14,270
Zhongsheng Group Holdings Ltd.		24,500		85,607

				3,865,429

Technology Hardware, Storage & Peripherals - 3.9%
Acer, Inc.		49,000		54,572
Advantech Co. Ltd.		8,734		108,805
Asia Vital Components Co. Ltd.		8,509		87,184
Asustek Computer, Inc.		20,000		231,652
AURAS Technology Co. Ltd.		1,000		9,180
Catcher Technology Co. Ltd.		7,000		38,646
Chicony Electronics Co. Ltd.		15,992		53,177
China Greatwall Technology Group Co. Ltd., Class A		5,500		9,427
Clevo Co.		196,000		206,749
Compal Electronics, Inc.		98,000		94,955
CosmoAM&T Co. Ltd.*		303		43,145
Darfon Electronics Corp.		71,000		99,181
Elitegroup Computer Systems Co. Ltd.		153,000		144,108
Ennoconn Corp.*		32,000		308,020
Getac Holdings Corp.		1,000		2,154
Gigabyte Technology Co. Ltd.		11,000		109,907
HTC Corp.*		23,000		40,838
IEI Integration Corp.		51,000		133,397
Innodisk Corp.*		5,872		58,857
Inspur Electronic Information Industry Co. Ltd., Class A		5,500		35,178
Inventec Corp.		98,000		198,641
Legend Holdings Corp., Class H(b)		249,900		256,991
Lenovo Group Ltd.		196,000		224,684
Lite-On Technology Corp.		56,000		268,181
Micro-Star International Co. Ltd.		21,000		129,970
Mitac Holdings Corp.		33,600		50,304
Ninestar Corp., Class A		2,900		13,594
Pegatron Corp.		49,000		119,122
Qisda Corp.		56,000		88,651
Quanta Computer, Inc.		85,000		645,077
Quanta Storage, Inc.		98,000		335,227
Samsung Electronics Co. Ltd.		83,643		4,580,302
Samsung Electronics Co. Ltd. (Preference)		12,990		584,965


Investments	Shares		Value ($)
Shenzhen Transsion Holdings Co. Ltd., Class A		1,316		22,599
Wistron Corp.		98,000		441,252
Wiwynn Corp.		3,000		169,920

				9,998,612

Textiles, Apparel & Luxury Goods - 1.3%
361 Degrees International Ltd.*		392,000		215,636
Aditya Birla Fashion and Retail Ltd.*		6,536		17,733
Aksa Akrilik Kimya Sanayii A/S		2,021		6,504
Alok Industries Ltd.*		23,980		4,257
Alpargatas SA (Preference)*		5,500		11,134
ANTA Sports Products Ltd.		19,600		229,459
Arezzo Industria e Comercio SA		4,057		70,274
Bata India Ltd.		848		17,903
Bosideng International Holdings Ltd.		54,000		24,650
Eclat Textile Co. Ltd.		4,698		81,024
F&F Co. Ltd.		245		19,894
Feng TAY Enterprise Co. Ltd.*		10,600		71,506
FF Group*‡		3,536		—
Fila Holdings Corp.		1,167		36,347
Fuguiniao Group Ltd.*‡		334,800		—
Fulgent Sun International Holding Co. Ltd.		49,000		194,899
Golden Solar New Energy Technology Holdings Ltd.*		42,000		37,968
Grendene SA		8,264		13,064
Grupo de Moda Soma SA		19,600		46,311
Handsome Co. Ltd.		3,871		63,016
Hansae Co. Ltd.		7,546		106,147
KPR Mill Ltd.		1,754		13,652
Lao Feng Xiang Co. Ltd., Class B		7,400		27,291
Li Ning Co. Ltd.		34,500		207,919
Makalot Industrial Co. Ltd.		4,334		42,959
Mavi Giyim Sanayi ve Ticaret A/S, Class B(b)		61,936		200,689
Page Industries Ltd.		118		54,238
Pou Chen Corp.		94,000		93,472
Quang Viet Enterprise Co. Ltd.		30,000		117,894
Rajesh Exports Ltd.		2,600		16,409
Raymond Ltd.		1,316		30,308
Relaxo Footwears Ltd.		987		11,353
Ruentex Industries Ltd.		28,819		56,856
Shenzhou International Group Holdings Ltd.		10,500		110,470
Shinkong Textile Co. Ltd.		98,000		141,263
Swan Energy Ltd.		2,940		7,842
Tainan Spinning Co. Ltd.		49,000		24,245
Taiwan Paiho Ltd.		98,000		180,555
Titan Co. Ltd.		6,664		243,396
Trident Ltd.		22,165		8,677
Vardhman Textiles Ltd.*		44,639		201,001
VIP Industries Ltd.		3,025		22,060
Vivara Participacoes SA		5,300		32,756
Welspun India Ltd.		7,370		9,825
Xtep International Holdings Ltd.(a)		27,500		30,467
Youngone Corp.		890		40,358


Investments	Shares		Value ($)
Youngone Holdings Co. Ltd.		2,107		127,281

				3,320,962

Tobacco - 0.3%
British American Tobacco Malaysia Bhd.		63,700		142,968
Eastern Co. SAE		27,721		16,745
Godfrey Phillips India Ltd.		490		12,841
Gudang Garam Tbk. PT		14,900		27,592
ITC Ltd.		46,599		263,848
KT&G Corp.		3,254		210,866
RLX Technology, Inc., ADR*(a)		15,484		27,097
Smoore International Holdings Ltd.(a)(b)		5,000		5,571

				707,528

Trading Companies & Distributors - 0.4%
Adani Enterprises Ltd.		4,622		140,050
ALAFCO Aviation Lease & Finance Co. KSCP*		3,260		1,975
Armac Locacao Logistica E Servicos SA		5,000		13,790
Barloworld Ltd.		79,478		374,067
BOC Aviation Ltd.(a)(b)		5,100		42,638
Chin Hin Group Bhd.*		9,400		9,006
COSCO SHIPPING Development Co. Ltd., Class A		37,600		13,258
COSCO SHIPPING Development Co. Ltd., Class H		62,000		7,235
Hydro Lithium, Inc.*		539		11,481
IndiaMart InterMesh Ltd.(b)		1,034		39,128
LX International Corp.		800		24,132
Posco International Corp.		1,484		104,898
Realord Group Holdings Ltd.*		76,000		57,204
Shanxi Coal International Energy Group Co. Ltd., Class A		4,900		10,010
SK Networks Co. Ltd.		46,452		218,293
Xiamen C & D, Inc., Class A		9,400		14,731

				1,081,896

Transportation Infrastructure - 0.9%
Abu Dhabi Ports Co. PJSC*		13,395		24,069
Adani Ports & Special Economic Zone Ltd.		11,172		105,657
Airports of Thailand PCL*		54,000		112,405
Airports of Thailand PCL, NVDR*		14,600		30,498
Bangkok Expressway & Metro PCL, NVDR		148,000		39,347
Beijing Capital International Airport Co. Ltd., Class H*		56,000		36,550
CCR SA		19,982		55,825
China Merchants Expressway Network & Technology Holdings Co. Ltd., Class A		24,500		31,470
China Merchants Port Holdings Co. Ltd.		40,521		55,596
COSCO SHIPPING Ports Ltd.		97,348		61,414
EcoRodovias Infraestrutura e Logistica SA		93,100		160,677
Evergreen International Storage & Transport Corp.		16,000		14,434


Investments	Shares		Value ($)
GMR Airports Infrastructure Ltd.*		48,418		30,346
Grupo Aeroportuario del Centro Norte SAB de CV, Class B		4,700		53,127
Grupo Aeroportuario del Pacifico SAB de CV, Class B		5,736		109,569
Grupo Aeroportuario del Sureste SAB de CV, Class B		3,410		96,699
Guangdong Provincial Expressway Development Co. Ltd., Class B		9,800		7,314
International Container Terminal Services, Inc.		16,170		63,885
Jasa Marga Persero Tbk. PT		39,723		10,194
Jiangsu Expressway Co. Ltd., Class H		32,000		29,256
Malaysia Airports Holdings Bhd.		16,908		25,874
National Marine Dredging Co.*		3,341		19,993
Ningbo Zhoushan Port Co. Ltd., Class A		23,500		11,706
Novorossiysk Commercial Sea Port PJSC‡		189,696		—
Promotora y Operadora de Infraestructura SAB de CV		2,160		22,432
Qingdao Port International Co. Ltd., Class H(b)		49,000		25,949
Salik Co. PJSC		24,346		20,813
Santos Brasil Participacoes SA		28,200		56,968
Saudi Ground Services Co.*		4,431		37,382
Shanghai International Airport Co. Ltd., Class A*		3,600		23,877
Shanghai International Port Group Co. Ltd., Class A		56,700		43,000
Shenzhen International Holdings Ltd.		24,500		22,933
Sociedad Matriz SAAM SA		1,621,166		175,730
Taiwan High Speed Rail Corp.		50,000		47,969
TangShan Port Group Co. Ltd., Class A		4,900		2,551
TAV Havalimanlari Holding A/S*		2,961		12,349
Westports Holdings Bhd.		17,500		13,584
Wilson Sons Holdings Brasil SA		14,700		40,914
Zhejiang Expressway Co. Ltd., Class H(a)		588,000		471,232

				2,203,588

Water Utilities - 0.8%
Aguas Andinas SA, Class A		1,139,054		398,904
AlKhorayef Water & Power Technologies Co.		294		12,492
Athens Water Supply & Sewage Co. SA		1,372		10,468
Beijing Capital Eco-Environment Protection Group Co. Ltd., Class A		71,200		29,888
Beijing Enterprises Water Group Ltd.		132,000		32,159
China Water Affairs Group Ltd.		392,000		332,250
Cia de Saneamento Basico do Estado de Sao Paulo SABESP		4,900		59,846
Cia de Saneamento de Minas Gerais Copasa MG		78,400		333,571


Investments	Shares		Value ($)
Cia de Saneamento do Parana		102,900		453,387
Emirates Central Cooling Systems Corp.		34,496		18,032
Guangdong Investment Ltd.		98,000		84,696
Manila Water Co., Inc.		460,600		160,172
National Central Cooling Co. PJSC		5,029		4,724
Transindia Realty & Logistics Parks Ltd.*		1,900		989

				1,931,578

Wireless Telecommunication Services - 0.8%
Advanced Info Service PCL, NVDR		14,700		97,059
Axiata Group Bhd.		49,004		29,018
Bharti Airtel Ltd.		38,514		416,707
Celcomdigi Bhd.		44,100		43,230
Empresa Nacional de Telecomunicaciones SA		57,624		231,456
Etihad Etisalat Co.		7,632		95,308
Far EasTone Telecommunications Co. Ltd.		35,000		79,073
Globe Telecom, Inc.		980		34,258
Indosat Tbk. PT		31,800		19,400
Intouch Holdings PCL, NVDR		19,600		44,092
Kuwait Telecommunications Co.		3,699		7,046
Maxis Bhd.		32,900		29,478
Mobile Telecommunications Co. KSCP		62,916		106,738
Mobile Telecommunications Co. Saudi Arabia		8,508		30,434
Mobile TeleSystems PJSC‡		31,356		—
MTN Group Ltd.		24,549		193,327
PLDT, Inc.		2,735		65,232
Sistema PJSFC‡		122,643		—
SK Telecom Co. Ltd.		2,793		101,014
Smartfren Telecom Tbk. PT*		4,635,400		17,521
Taiwan Mobile Co. Ltd.		35,000		105,134
TIM SA		14,700		44,313
Turkcell Iletisim Hizmetleri A/S*		28,567		54,849
Vodacom Group Ltd.(a)		12,005		79,636
Vodafone Idea Ltd.*		369,936		37,331
Vodafone Qatar QSC		44,198		23,532
XL Axiata Tbk. PT		102,900		15,490

				2,000,676

TOTAL COMMON STOCKS (COST $221,394,939)				252,113,520


Investments	Number of Rights		Value ($)
RIGHTS - 0.0%(d)

Entertainment - 0.0%(d)
CJ CGV Co. Ltd., expiring 9/6/2023, price 5,890.00 KRW* (Cost $42,512)		12,560		33,601


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 0.0%(d)

Independent Power and Renewable Electricity Producers - 0.0%(d)
NTPC Ltd. Series 54, 8.49%, 3/25/2025 (Cost $–)	INR	39,301		4,945


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 0.2%(e)

REPURCHASE AGREEMENTS - 0.2%
Citigroup Global Markets, Inc., 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $579,657, collateralized by various U.S. Treasury Securities, ranging from 0.50% - 2.63%, maturing 8/31/2026 - 2/15/2029; total market value $586,720 (Cost $579,572)		579,572		579,572

Total Investments - 98.7% (Cost $222,017,023)				252,731,638
Other assets less liabilities - 1.3%				3,324,149

Net Assets - 100.0%				256,055,787

*	Non-income producing security.

‡	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(a)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $4,237,366, collateralized in the form of cash with a value of $579,572 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $2,673,813 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 7.63%, and maturity dates ranging from July 31, 2023 – February 15, 2053 and $1,384,101 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 6.00%, and maturity dates ranging from September 7, 2023 – September 20, 2117; a total value of $4,637,486.

(b)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.

(c)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

FlexShares^® Morningstar Emerging Markets Factor Tilt Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® Morningstar Emerging Markets Factor Tilt Index Fund had the following outstanding contracts as of July 31, 2023:

FlexShares^® Morningstar Emerging Markets Factor Tilt Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 99.0%

Aerospace & Defense - 0.7%
Lockheed Martin Corp.		2,178		972,194
Textron, Inc.		363		28,230

				1,000,424

Air Freight & Logistics - 1.4%
Expeditors International of Washington, Inc.		6,534		831,778
United Parcel Service, Inc., Class B		7,381		1,381,207

				2,212,985

Automobiles - 1.3%
Tesla, Inc.*(a)		7,623		2,038,619

Banks - 3.6%
Bank of America Corp.		26,983		863,456
Citigroup, Inc.		32,791		1,562,819
JPMorgan Chase & Co.		5,203		821,866
Wells Fargo & Co.		48,158		2,222,973

				5,471,114

Beverages - 0.1%
Molson Coors Beverage Co., Class B		2,541		177,286

Biotechnology - 1.9%
AbbVie, Inc.		2,178		325,785
Amgen, Inc.		7,865		1,841,590
Biogen, Inc.*		242		65,386
Gilead Sciences, Inc.		3,509		267,175
Regeneron Pharmaceuticals, Inc.*		181		134,286
Vertex Pharmaceuticals, Inc.*		968		341,065

				2,975,287

Broadline Retail - 2.5%
Amazon.com, Inc.*		19,239		2,571,870
eBay, Inc.		15,367		683,985
Etsy, Inc.*(a)		968		98,397
MercadoLibre, Inc.*		363		449,412

				3,803,664

Building Products - 0.5%
Builders FirstSource, Inc.*		2,299		332,045
Masco Corp.		6,292		381,798

				713,843

Capital Markets - 1.7%
Ameriprise Financial, Inc.		363		126,487
Bank of New York Mellon Corp. (The)		19,844		900,124
Goldman Sachs Group, Inc. (The)		847		301,422
Morgan Stanley		10,164		930,616
State Street Corp.		5,324		385,670

				2,644,319

Chemicals - 0.9%
CF Industries Holdings, Inc.		3,388		278,087
Dow, Inc.		13,794		778,947


Investments	Shares		Value ($)
LyondellBasell Industries NV, Class A		2,662		263,165
Mosaic Co. (The)		1,573		64,116

				1,384,315

Communications Equipment - 1.5%
Cisco Systems, Inc.		43,560		2,266,862

Consumer Finance - 1.5%
Ally Financial, Inc.		7,381		225,416
Capital One Financial Corp.		7,502		877,884
Discover Financial Services		5,203		549,176
Synchrony Financial		17,061		589,287

				2,241,763

Consumer Staples Distribution & Retail - 0.5%
Kroger Co. (The)		16,093		782,764

Distributors - 0.1%
Genuine Parts Co.		484		75,369
LKQ Corp.		1,089		59,666

				135,035

Diversified Telecommunication Services - 0.8%
AT&T, Inc.		75,867		1,101,589
Lumen Technologies, Inc.(a)		109,384		195,797

				1,297,386

Electric Utilities - 2.4%
Constellation Energy Corp.		2,662		257,282
Evergy, Inc.		9,438		565,997
Exelon Corp.		19,602		820,540
PPL Corp.		26,620		732,849
Southern Co. (The)		19,118		1,382,996

				3,759,664

Electrical Equipment - 0.3%
Emerson Electric Co.		1,331		121,587
Hubbell, Inc., Class B		1,089		339,768

				461,355

Entertainment - 0.6%
Activision Blizzard, Inc.*		4,235		392,838
Atlanta Braves Holdings, Inc., Class C*		1		28
Electronic Arts, Inc.		3,509		478,452
Liberty Media Corp-Liberty Formula One, Class C*		726		52,708

				924,026

Financial Services - 4.7%
Berkshire Hathaway, Inc., Class B*		10,043		3,534,734
Equitable Holdings, Inc.		9,801		281,191
Fiserv, Inc.*		4,840		610,856
Mastercard, Inc., Class A		1,694		667,910
PayPal Holdings, Inc.*		4,114		311,924
Visa, Inc., Class A(a)		7,502		1,783,451

				7,190,066

Food Products - 1.0%
Campbell Soup Co.		6,655		304,932
General Mills, Inc.		10,890		813,919
Hershey Co. (The)		1,573		363,851
Kraft Heinz Co. (The)(a)		2,057		74,422

				1,557,124


Investments	Shares		Value ($)
Ground Transportation - 0.1%
Old Dominion Freight Line, Inc.		242		101,517

Health Care Equipment & Supplies - 0.8%
Abbott Laboratories		2,299		255,948
Hologic, Inc.*		5,203		413,222
IDEXX Laboratories, Inc.*		1,027		569,708

				1,238,878

Health Care Providers & Services - 4.0%
Cardinal Health, Inc.		7,018		641,936
Centene Corp.*		1,331		90,628
Cigna Group (The)		2,783		821,263
CVS Health Corp.		8,954		668,774
Elevance Health, Inc.		605		285,336
HCA Healthcare, Inc.		968		264,080
Laboratory Corp. of America Holdings		2,904		621,253
McKesson Corp.		2,662		1,071,189
Quest Diagnostics, Inc.		2,420		327,208
UnitedHealth Group, Inc.		2,783		1,409,228

				6,200,895

Health Care REITs - 0.1%
Healthpeak Properties, Inc., REIT		6,292		137,354

Hotel & Resort REITs - 0.5%
Host Hotels & Resorts, Inc., REIT(a)		43,318		797,051

Hotels, Restaurants & Leisure - 1.6%
Airbnb, Inc., Class A*(a)		3,267		497,205
Booking Holdings, Inc.*		268		796,174
Carnival Corp.*(a)		21,901		412,615
DraftKings, Inc., Class A*		9,559		303,785
Expedia Group, Inc.*		605		74,130
Yum! Brands, Inc.		3,146		433,110

				2,517,019

Household Durables - 1.0%
Lennar Corp., Class A		5,929		751,975
NVR, Inc.*		129		813,531

				1,565,506

Household Products - 2.0%
Colgate-Palmolive Co.		7,139		544,420
Kimberly-Clark Corp.		1,331		171,832
Procter & Gamble Co. (The)		14,883		2,326,213

				3,042,465

Independent Power and Renewable Electricity Producers - 0.4%
AES Corp. (The)		20,328		439,695
Vistra Corp.(a)		6,776		190,134

				629,829

Industrial Conglomerates - 0.8%
3M Co.		1,936		215,864
General Electric Co.		8,954		1,022,905

				1,238,769


Investments	Shares		Value ($)
Insurance - 2.1%
Aflac, Inc.		12,221		884,067
Allstate Corp. (The)		1,815		204,514
American International Group, Inc.		14,641		882,560
Arch Capital Group Ltd.*		1,089		84,604
MetLife, Inc.		13,068		822,892
Prudential Financial, Inc.		4,356		420,311

				3,298,948

Interactive Media & Services - 7.6%
Alphabet, Inc., Class A*		35,574		4,721,381
Alphabet, Inc., Class C*		32,549		4,332,597
Meta Platforms, Inc., Class A*		7,986		2,544,340

				11,598,318

IT Services - 1.8%
Accenture plc, Class A(a)		4,235		1,339,742
Amdocs Ltd.		484		45,322
Cognizant Technology Solutions Corp., Class A		8,954		591,233
Gartner, Inc.*		2,299		812,903

				2,789,200

Life Sciences Tools & Services - 0.9%
Danaher Corp.		363		92,587
Mettler-Toledo International, Inc.*		528		663,944
Waters Corp.*		2,057		568,164

				1,324,695

Machinery - 2.0%
Caterpillar, Inc.		4,477		1,187,166
Illinois Tool Works, Inc.		5,687		1,497,501
PACCAR, Inc.		3,993		343,917
Snap-on, Inc.		242		65,930

				3,094,514

Media - 1.4%
Comcast Corp., Class A		19,118		865,281
Interpublic Group of Cos., Inc. (The)(a)		20,086		687,544
Omnicom Group, Inc.		7,865		665,536

				2,218,361

Metals & Mining - 1.8%
Freeport-McMoRan, Inc.		11,374		507,849
Nucor Corp.		3,751		645,510
Reliance Steel & Aluminum Co.		3,025		885,901
Steel Dynamics, Inc.		6,776		722,186

				2,761,446

Multi-Utilities - 1.1%
Consolidated Edison, Inc.		8,470		803,464
Public Service Enterprise Group, Inc.		13,068		824,852

				1,628,316

Oil, Gas & Consumable Fuels - 2.9%
Antero Resources Corp.*		8,591		229,809
Exxon Mobil Corp.		7,139		765,587
Marathon Oil Corp.		12,705		333,760
Marathon Petroleum Corp.(a)		10,043		1,335,920
Occidental Petroleum Corp.(a)		17,545		1,107,616
Valero Energy Corp.		5,445		701,915

				4,474,607


Investments	Shares		Value ($)
Pharmaceuticals - 5.5%
Bristol-Myers Squibb Co.		17,424		1,083,599
Eli Lilly & Co.		4,961		2,255,022
Johnson & Johnson		19,239		3,223,110
Merck & Co., Inc.		3,509		374,235
Pfizer, Inc.		40,172		1,448,602

				8,384,568

Professional Services - 0.3%
Automatic Data Processing, Inc.		484		119,674
Leidos Holdings, Inc.		484		45,268
Paychex, Inc.		2,057		258,092

				423,034

Real Estate Management & Development - 0.6%
CBRE Group, Inc., Class A*		10,406		866,924

Residential REITs - 0.0%(b)
Mid-America Apartment Communities, Inc., REIT(a)		242		36,218

Retail REITs - 0.1%
Regency Centers Corp., REIT(a)		484		31,717
Simon Property Group, Inc., REIT		847		105,536

				137,253

Semiconductors & Semiconductor Equipment - 7.6%
Analog Devices, Inc.		4,719		941,582
Applied Materials, Inc.		6,655		1,008,832
Broadcom, Inc.		1,815		1,631,050
KLA Corp.		1,936		995,007
Lam Research Corp.		2,057		1,477,934
Microchip Technology, Inc.		11,011		1,034,373
NVIDIA Corp.		6,655		3,109,815
QUALCOMM, Inc.		3,872		511,762
Texas Instruments, Inc.		5,203		936,540

				11,646,895

Software - 10.1%
Adobe, Inc.*		3,267		1,784,337
ANSYS, Inc.*		484		165,576
Autodesk, Inc.*		121		25,651
Bentley Systems, Inc., Class B(a)		726		39,117
Cadence Design Systems, Inc.*		363		84,946
Check Point Software Technologies Ltd.*		5,929		783,873
Fair Isaac Corp.*		726		608,366
Fortinet, Inc.*		10,527		818,159
Intuit, Inc.		3,146		1,609,808
Microsoft Corp.		22,627		7,600,862
Oracle Corp.		15,004		1,758,919
Roper Technologies, Inc.		121		59,659
Zoom Video Communications, Inc., Class A*		1,452		106,504

				15,445,777

Specialized REITs - 1.1%
Iron Mountain, Inc., REIT		1,210		74,294
Public Storage, REIT		2,904		818,202
Weyerhaeuser Co., REIT		22,385		762,433

				1,654,929


Investments	Shares		Value ($)
Specialty Retail - 2.5%
AutoZone, Inc.*		363		900,864
Best Buy Co., Inc.		4,235		351,717
Home Depot, Inc. (The)		3,267		1,090,655
Lowe’s Cos., Inc.		4,477		1,048,827
O’Reilly Automotive, Inc.*		363		336,062
Ulta Beauty, Inc.*		363		161,462

				3,889,587

Technology Hardware, Storage & Peripherals - 9.0%
Apple, Inc.		70,059		13,763,091
NetApp, Inc.		1,331		103,831

				13,866,922

Tobacco - 0.7%
Altria Group, Inc.		5,082		230,825
Philip Morris International, Inc.		9,196		917,025

				1,147,850

Trading Companies & Distributors - 0.6%
United Rentals, Inc.		121		56,226
WW Grainger, Inc.		1,149		848,525

				904,751

TOTAL COMMON STOCKS (COST $133,423,409)				152,100,297

Total Investments - 99.0% (Cost $133,423,409)				152,100,297
Other assets less liabilities - 1.0%				1,570,076

Net Assets - 100.0%				153,670,373

*	Non-income producing security.

(a)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $7,369,711, collateralized in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 6.13%, and maturity dates ranging from August 15, 2023 – November 15, 2052; a total value of $7,470,976.

(b)	Represents less than 0.05% of net assets.

Percentages shown are based on Net Assets.


Abbreviations
REIT		Real Estate Investment Trust

FlexShares^® US Quality Large Cap Index Fund had the following open futures contracts as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 99.0%

Air Freight & Logistics - 0.3%
Expeditors International of Washington, Inc.		858		109,223
FedEx Corp.		1,650		445,418

				554,641

Automobile Components - 0.1%
Aptiv plc*		990		108,395
BorgWarner, Inc.(a)		1,386		64,449

				172,844

Automobiles - 4.7%
Ford Motor Co.		13,794		182,219
General Motors Co.		14,520		557,132
Rivian Automotive, Inc., Class A*(a)		5,940		164,182
Tesla, Inc.*		29,238		7,819,118

				8,722,651

Banks - 4.9%
Bank of America Corp.		61,578		1,970,496
Citigroup, Inc.		20,790		990,851
Fifth Third Bancorp		4,488		130,601
Huntington Bancshares, Inc.		13,530		165,607
JPMorgan Chase & Co.		31,086		4,910,345
KeyCorp		5,874		72,309
Regions Financial Corp.(a)		6,204		126,375
US Bancorp		16,038		636,388

				9,002,972

Beverages - 2.5%
Brown-Forman Corp., Class B		1,122		79,213
Coca-Cola Co. (The)		41,580		2,575,049
Coca-Cola Europacific Partners plc		2,112		133,880
Keurig Dr Pepper, Inc.		10,956		372,613
PepsiCo, Inc.		7,260		1,360,960

				4,521,715

Biotechnology - 1.0%
Amgen, Inc.		1,914		448,163
Biogen, Inc.*		528		142,660
Gilead Sciences, Inc.		6,600		502,524
Vertex Pharmaceuticals, Inc.*		2,244		790,651

				1,883,998

Broadline Retail - 5.1%
Amazon.com, Inc.*		68,442		9,149,327
eBay, Inc.		4,620		205,636
Etsy, Inc.*		1,056		107,342

				9,462,305

Building Products - 0.2%
Trane Technologies plc		2,046		408,054

Capital Markets - 2.9%
Bank of New York Mellon Corp. (The)		4,356		197,588
BlackRock, Inc.		1,518		1,121,574


Investments	Shares		Value ($)
FactSet Research Systems, Inc.		396		172,276
Goldman Sachs Group, Inc. (The)		3,564		1,268,321
Moody’s Corp.		858		302,660
Morgan Stanley		9,306		852,057
MSCI, Inc., Class A		528		289,386
Nasdaq, Inc.		2,904		146,623
Northern Trust Corp.(b)		660		52,879
S&P Global, Inc.		2,244		885,280
State Street Corp.		1,254		90,840

				5,379,484

Chemicals - 0.7%
Corteva, Inc.		5,082		286,777
DuPont de Nemours, Inc.		3,300		256,179
Ecolab, Inc.		2,046		374,705
Sherwin-Williams Co. (The)		1,254		346,731

				1,264,392

Commercial Services & Supplies - 0.2%
Cintas Corp.		924		463,885

Communications Equipment - 0.8%
Cisco Systems, Inc.		28,974		1,507,807
F5, Inc.*		330		52,219

				1,560,026

Construction & Engineering - 0.1%
AECOM		1,188		103,356

Consumer Finance - 0.2%
Capital One Financial Corp.		2,772		324,379

Consumer Staples Distribution & Retail - 2.5%
Costco Wholesale Corp.		1,584		888,101
Dollar Tree, Inc.*		726		112,044
Kroger Co. (The)		7,062		343,496
Target Corp.		4,092		558,435
Walgreens Boots Alliance, Inc.		7,392		221,538
Walmart, Inc.		15,114		2,416,124

				4,539,738

Containers & Packaging - 0.2%
Amcor plc		16,500		169,290
Ball Corp.(a)		2,640		154,942

				324,232

Distributors - 0.0%(c)
LKQ Corp.		1,056		57,858

Diversified Telecommunication Services - 0.5%
Verizon Communications, Inc.		29,898		1,018,924

Electrical Equipment - 0.1%
Rockwell Automation, Inc.		396		133,171

Electronic Equipment, Instruments & Components - 0.4%
CDW Corp.		1,188		222,239
Corning, Inc.(a)		4,290		145,603
Flex Ltd.*		1,518		41,532


Investments	Shares		Value ($)
Jabil, Inc.		594		65,738
Keysight Technologies, Inc.*		924		148,838
Trimble, Inc.*		1,452		78,118
Zebra Technologies Corp., Class A*		198		60,976

				763,044

Energy Equipment & Services - 0.6%
Baker Hughes Co., Class A		5,478		196,057
Schlumberger NV		15,114		881,751

				1,077,808

Entertainment - 1.0%
Activision Blizzard, Inc.*		5,214		483,651
Walt Disney Co. (The)*		16,170		1,437,351

				1,921,002

Financial Services - 5.1%
Apollo Global Management, Inc.		4,752		388,286
Berkshire Hathaway, Inc., Class B*		13,728		4,831,707
Block, Inc., Class A*		1,980		159,449
Fidelity National Information Services, Inc.		3,234		195,269
Mastercard, Inc., Class A		2,970		1,171,012
PayPal Holdings, Inc.*		7,854		595,490
Visa, Inc., Class A(a)		8,580		2,039,723

				9,380,936

Food Products - 1.2%
Archer-Daniels-Midland Co.		1,980		168,221
Conagra Brands, Inc.		3,366		110,438
Darling Ingredients, Inc.*		1,452		100,551
General Mills, Inc.		6,138		458,754
Hershey Co. (The)		1,584		366,395
Hormel Foods Corp.		2,112		86,339
J M Smucker Co. (The)		396		59,657
Kellogg Co.		2,838		189,834
McCormick & Co., Inc. (Non-Voting)		2,244		200,793
Mondelez International, Inc., Class A		4,752		352,266
Tyson Foods, Inc., Class A		1,122		62,518

				2,155,766

Ground Transportation - 0.7%
Uber Technologies, Inc.*		10,824		535,355
Union Pacific Corp.		3,234		750,353

				1,285,708

Health Care Equipment & Supplies - 2.4%
Baxter International, Inc.		1,584		71,644
Becton Dickinson & Co.		1,980		551,668
Boston Scientific Corp.*		10,098		523,581
Cooper Cos., Inc. (The)		264		103,293
Edwards Lifesciences Corp.*		5,280		433,330
Hologic, Inc.*		2,112		167,735
IDEXX Laboratories, Inc.*		462		256,285
Medtronic plc		9,438		828,279
Penumbra, Inc.*(a)		396		120,130
Stryker Corp.		3,828		1,084,893
Zimmer Biomet Holdings, Inc.		1,518		209,712

				4,350,550

Health Care Providers & Services - 3.2%
AmerisourceBergen Corp.(a)		858		160,360


Investments	Shares		Value ($)
Cardinal Health, Inc.		1,848		169,037
Centene Corp.*		1,848		125,830
Cigna Group (The)		2,112		623,251
CVS Health Corp.		11,418		852,810
Elevance Health, Inc.		2,508		1,182,848
Humana, Inc.		462		211,055
Quest Diagnostics, Inc.		594		80,315
UnitedHealth Group, Inc.		4,950		2,506,532

				5,912,038

Health Care REITs - 0.4%
Healthpeak Properties, Inc., REIT		5,412		118,144
Ventas, Inc., REIT		3,366		163,318
Welltower, Inc., REIT(a)		5,280		433,752

				715,214

Hotels, Restaurants & Leisure - 2.2%
Booking Holdings, Inc.*		264		784,291
Caesars Entertainment, Inc.*		1,254		74,011
Carnival Corp.*(a)		4,290		80,824
Chipotle Mexican Grill, Inc., Class A*		132		259,021
Domino’s Pizza, Inc.		264		104,739
Hilton Worldwide Holdings, Inc.		2,310		359,182
Las Vegas Sands Corp.*		1,650		98,687
Marriott International, Inc., Class A		990		199,792
McDonald’s Corp.		2,574		754,697
MGM Resorts International		2,310		117,279
Royal Caribbean Cruises Ltd.*		792		86,415
Starbucks Corp.		6,072		616,733
Yum China Holdings, Inc.		2,310		140,956
Yum! Brands, Inc.		2,508		345,276

				4,021,903

Household Products - 2.4%
Church & Dwight Co., Inc.		1,254		119,970
Clorox Co. (The)		1,320		199,954
Colgate-Palmolive Co.		7,392		563,714
Kimberly-Clark Corp.		2,970		383,427
Procter & Gamble Co. (The)		20,790		3,249,477

				4,516,542

Independent Power and Renewable Electricity Producers - 0.0%(c)
AES Corp. (The)		4,356		94,220

Industrial Conglomerates - 0.2%
3M Co.		3,828		426,822

Industrial REITs - 0.2%
Prologis, Inc., REIT		3,300		411,675

Insurance - 2.1%
Aflac, Inc.		5,016		362,857
Allstate Corp. (The)		858		96,680
American International Group, Inc.		2,574		155,161
Aon plc, Class A		726		231,231
Arch Capital Group Ltd.*		1,386		107,678
Arthur J Gallagher & Co.		1,518		326,066
Chubb Ltd.		1,452		296,803
Hartford Financial Services Group, Inc. (The)		2,706		194,507
Marsh & McLennan Cos., Inc.		3,498		659,093


Investments	Shares		Value ($)
MetLife, Inc.		5,808		365,730
Principal Financial Group, Inc.		2,640		210,857
Progressive Corp. (The)		3,102		390,790
Travelers Cos., Inc. (The)		1,650		284,807
Willis Towers Watson plc		924		195,269

				3,877,529

Interactive Media & Services - 5.6%
Alphabet, Inc., Class C*		20,790		2,767,357
Meta Platforms, Inc., Class A*		23,496		7,485,826
Snap, Inc., Class A*(a)		10,428		118,462

				10,371,645

IT Services - 2.4%
Accenture plc, Class A		6,996		2,213,185
Akamai Technologies, Inc.*		1,386		130,977
Amdocs Ltd.		1,254		117,425
Cognizant Technology Solutions Corp., Class A		4,356		287,627
Gartner, Inc.*		726		256,706
International Business Machines Corp.		9,636		1,389,318

				4,395,238

Life Sciences Tools & Services - 1.2%
Agilent Technologies, Inc.		1,584		192,884
Avantor, Inc.*		1,980		40,729
Bio-Rad Laboratories, Inc., Class A*		132		53,507
Danaher Corp.		3,696		942,702
Illumina, Inc.*		1,122		215,592
IQVIA Holdings, Inc.*		1,980		443,045
Mettler-Toledo International, Inc.*		66		82,993
Revvity, Inc.		396		48,688
West Pharmaceutical Services, Inc.		396		145,744

				2,165,884

Machinery - 1.6%
Caterpillar, Inc.		2,772		735,051
Cummins, Inc.		990		258,192
Deere & Co.		1,056		453,658
Dover Corp.		792		115,608
Fortive Corp.		3,036		237,871
Illinois Tool Works, Inc.		1,056		278,066
Ingersoll Rand, Inc.		1,518		99,080
Nordson Corp.		396		99,638
Otis Worldwide Corp.		3,564		324,181
Stanley Black & Decker, Inc.		1,254		124,485
Toro Co. (The)		528		53,671
Xylem, Inc.		1,254		141,388

				2,920,889

Media - 0.7%
Comcast Corp., Class A		21,846		988,750
Interpublic Group of Cos., Inc. (The)(a)		3,432		117,477
Omnicom Group, Inc.(a)		1,452		122,868
Paramount Global, Class B(a)		1,254		20,102

				1,249,197

Metals & Mining - 0.6%
Freeport-McMoRan, Inc.		9,900		442,035
Newmont Corp.		6,864		294,603


Investments	Shares		Value ($)
Nucor Corp.		1,782		306,664

				1,043,302

Multi-Utilities - 0.1%
Public Service Enterprise Group, Inc.		1,848		116,646

Oil, Gas & Consumable Fuels - 4.7%
APA Corp.		1,848		74,825
Chevron Corp.		18,678		3,056,841
Coterra Energy, Inc.		6,864		189,035
Exxon Mobil Corp.		42,966		4,607,674
Marathon Oil Corp.		4,092		107,497
Phillips 66		4,884		544,810

				8,580,682

Passenger Airlines - 0.1%
American Airlines Group, Inc.*(a)		2,178		36,481
Southwest Airlines Co.		2,112		72,146

				108,627

Personal Care Products - 0.2%
Estee Lauder Cos., Inc. (The), Class A		2,046		368,280

Pharmaceuticals - 7.5%
Bristol-Myers Squibb Co.		22,374		1,391,439
Eli Lilly & Co.		6,006		2,730,027
Johnson & Johnson		27,588		4,621,818
Merck & Co., Inc.		26,862		2,864,833
Pfizer, Inc.		39,732		1,432,736
Zoetis, Inc., Class A		4,092		769,664

				13,810,517

Professional Services - 0.7%
Automatic Data Processing, Inc.		3,696		913,873
Broadridge Financial Solutions, Inc.		660		110,827
Verisk Analytics, Inc., Class A		1,518		347,531

				1,372,231

Real Estate Management & Development - 0.1%
CBRE Group, Inc., Class A*		3,234		269,425

Residential REITs - 0.2%
Camden Property Trust, REIT		330		36,000
Equity Residential, REIT		1,782		117,505
Essex Property Trust, Inc., REIT		330		80,372
Sun Communities, Inc., REIT		924		120,397

				354,274

Semiconductors & Semiconductor Equipment - 6.2%
Advanced Micro Devices, Inc.*		5,676		649,335
Applied Materials, Inc.		7,458		1,130,558
First Solar, Inc.*		528		109,507
Intel Corp.		36,960		1,322,059
KLA Corp.		726		373,128
Lam Research Corp.		990		711,305
Microchip Technology, Inc.		1,848		173,601
Micron Technology, Inc.		11,616		829,266
NVIDIA Corp.		8,712		4,071,031
QUALCOMM, Inc.		5,940		785,090
Skyworks Solutions, Inc.		528		60,387
Texas Instruments, Inc.		6,402		1,152,360

				11,367,627


Investments	Shares		Value ($)
Software - 9.1%
Adobe, Inc.*		4,026		2,198,880
Autodesk, Inc.*		2,310		489,697
Crowdstrike Holdings, Inc., Class A*		792		128,035
DocuSign, Inc., Class A*		1,518		81,699
Fortinet, Inc.*		4,488		348,807
Gen Digital, Inc.		6,468		125,803
Intuit, Inc.		1,980		1,013,166
Microsoft Corp.		26,202		8,801,776
Oracle Corp.		5,412		634,449
Palo Alto Networks, Inc.*(a)		2,112		527,916
Salesforce, Inc.*		5,214		1,173,202
ServiceNow, Inc.*		726		423,258
Splunk, Inc.*		792		85,797
Synopsys, Inc.*		1,056		477,101
Workday, Inc., Class A*		726		172,156

				16,681,742

Specialized REITs - 0.6%
American Tower Corp., REIT		2,508		477,297
Digital Realty Trust, Inc., REIT		990		123,374
Iron Mountain, Inc., REIT		2,574		158,044
Weyerhaeuser Co., REIT		8,052		274,251

				1,032,966

Specialty Retail - 1.7%
AutoZone, Inc.*		132		327,587
Bath & Body Works, Inc.		2,442		90,501
Best Buy Co., Inc.(a)		1,650		137,033
Burlington Stores, Inc.*		330		58,615
Lowe’s Cos., Inc.		4,224		989,556
Ross Stores, Inc.		3,102		355,613
TJX Cos., Inc. (The)		10,164		879,491
Tractor Supply Co.(a)		990		221,750
Williams-Sonoma, Inc.(a)		660		91,502

				3,151,648

Technology Hardware, Storage & Peripherals - 5.4%
Apple, Inc.		47,124		9,257,510
Hewlett Packard Enterprise Co.		11,286		196,151
HP, Inc.		9,438		309,849
NetApp, Inc.		1,518		118,419
Western Digital Corp.*		3,498		148,875

				10,030,804

Textiles, Apparel & Luxury Goods - 0.7%
Deckers Outdoor Corp.*		198		107,651
Lululemon Athletica, Inc.*		1,320		499,660
NIKE, Inc., Class B		6,468		714,002

				1,321,313

Trading Companies & Distributors - 0.4%
Ferguson plc		2,178		352,008
United Rentals, Inc.		264		122,676
WW Grainger, Inc.		330		243,702

				718,386


Investments	Shares		Value ($)
Water Utilities - 0.1%
American Water Works Co., Inc.		1,386		204,338


TOTAL COMMON STOCKS (COST $156,256,799)				182,445,043


Investments	Principal Amount ($)		Value ($)

SECURITIES LENDING REINVESTMENTS - 0.0%(c)(d)

REPURCHASE AGREEMENTS - 0.0%(c)
Citigroup Global Markets, Inc., 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $6,049, collateralized by various U.S. Treasury Securities, ranging from 0.50% - 2.63%, maturing 8/31/2026 - 2/15/2029; total market value $6,123 (Cost $6,048)		6,048		6,048

Total Investments - 99.0% (Cost $156,262,847)				182,451,091
Other assets less liabilities - 1.0%				1,765,217

Net Assets - 100.0%				184,216,308

*	Non-income producing security.

(a)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $4,385,750, collateralized in the form of cash with a value of $6,048 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $4,357,933 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 7.63%, and maturity dates ranging from August 15, 2023 – February 15, 2053 and $86,721 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 4.75%, and maturity dates ranging from September 7, 2023 – October 22, 2071; a total value of $4,450,702.

(b)	Investment in affiliated company. Northern Trust Investments, Inc., the Investment Adviser of the Fund, is a subsidiary of Northern Trust Corporation.

(c)	Represents less than 0.05% of net assets.

(d)	The security was purchased with cash collateral held from securities on loan at July 31, 2023. The total value of securities purchased was $6,048.

Percentages shown are based on Net Assets.

Investment in a company which was affiliated for the period ended July 31, 2023, was as follows:

FlexShares^® STOXX^® US ESG Select Index Fund had the following open futures contracts as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 99.0%

Air Freight & Logistics - 0.4%
DHL Group		2,599		133,877
DSV A/S		1,265		253,962
FedEx Corp.		782		211,101
International Distributions Services plc*		8,441		28,976

				627,916

Automobile Components - 0.4%
BorgWarner, Inc.(a)		782		36,363
Bridgestone Corp.		4,600		190,793
Cie Generale des Etablissements Michelin SCA		4,623		151,740
Continental AG		736		58,929
Denso Corp.		2,300		159,954
Forvia*		1,127		28,356
Niterra Co. Ltd.		2,300		48,597
Sumitomo Electric Industries Ltd.		2,300		29,462
Valeo		575		13,028

				717,222

Automobiles - 2.2%
Bayerische Motoren Werke AG		2,116		258,636
Ferrari NV		506		162,569
General Motors Co.		11,362		435,960
Honda Motor Co. Ltd.		11,500		365,284
Mazda Motor Corp.		2,300		22,752
Mercedes-Benz Group AG		4,853		388,673
Mitsubishi Motors Corp.		6,900		27,759
Nissan Motor Co. Ltd.		6,900		30,256
Renault SA		1,058		46,549
Rivian Automotive, Inc., Class A*(a)		5,290		146,216
Stellantis NV		12,673		260,506
Subaru Corp.(a)		2,300		43,489
Suzuki Motor Corp.		2,300		92,223
Toyota Motor Corp.		66,700		1,120,117
Volkswagen AG (Preference)		943		125,347
Yamaha Motor Co. Ltd.		2,300		67,342

				3,593,678

Banks - 9.4%
ABN AMRO Bank NV, CVA(b)		2,530		43,125
AIB Group plc		8,786		41,441
ANZ Group Holdings Ltd.		19,481		338,027
Banco Bilbao Vizcaya Argentaria SA		32,775		260,541
Banco BPM SpA		9,729		48,785
Banco Santander SA		101,039		410,344
Bank of America Corp.		23,230		743,360
Bank of Ireland Group plc		7,222		76,409
Bank of Montreal		5,221		486,064
Bank Polska Kasa Opieki SA		1,794		53,129
Bankinter SA		4,209		27,278
Barclays plc		76,590		152,705


Investments	Shares		Value ($)
BNP Paribas SA		6,739		445,954
Canadian Imperial Bank of Commerce		6,946		306,495
Citigroup, Inc.		16,123		768,422
Commerzbank AG		3,289		39,436
Commonwealth Bank of Australia		12,834		914,200
Credit Agricole SA		1,794		22,323
Danske Bank A/S		3,887		92,498
DBS Group Holdings Ltd.		6,900		178,034
Erste Group Bank AG		1,104		41,848
FinecoBank Banca Fineco SpA		5,152		80,178
Hang Seng Bank Ltd.		4,600		70,014
HSBC Holdings plc		100,464		835,420
ING Groep NV		8,878		129,991
Intesa Sanpaolo SpA		89,999		260,871
Japan Post Bank Co. Ltd.		4,600		38,301
JPMorgan Chase & Co.		28,106		4,439,624
KBC Group NV		1,012		76,319
Lloyds Banking Group plc		330,786		191,246
Mediobanca Banca di Credito Finanziario SpA		2,254		30,120
Mitsubishi UFJ Financial Group, Inc.		85,100		686,406
National Bank of Canada		736		57,751
NatWest Group plc		24,357		76,561
Nordea Bank Abp		21,137		240,177
Oversea-Chinese Banking Corp. Ltd.		16,100		161,267
Royal Bank of Canada		7,406		735,564
Santander Bank Polska SA*		115		11,441
Skandinaviska Enskilda Banken AB, Class A		8,326		101,069
Societe Generale SA		4,071		110,933
Standard Chartered plc		12,167		117,003
Svenska Handelsbanken AB, Class A		6,716		59,059
Swedbank AB, Class A		5,106		93,762
Toronto-Dominion Bank (The)		9,890		653,397
UniCredit SpA		8,142		206,470
US Bancorp		8,809		349,541
Virgin Money UK plc		6,946		15,765
Westpac Banking Corp.		23,230		349,700

				15,668,368

Beverages - 1.8%
Anheuser-Busch InBev SA/NV		3,450		197,988
Asahi Group Holdings Ltd.(a)		2,300		90,572
Britvic plc		2,231		24,801
Budweiser Brewing Co. APAC Ltd.(b)		11,500		27,870
Carlsberg A/S, Class B		575		86,472
Coca-Cola Co. (The)		19,297		1,195,063
Coca-Cola Europacific Partners plc		1,219		77,272
Coca-Cola HBC AG		1,012		29,844
Davide Campari-Milano NV		3,036		40,938
Diageo plc		10,672		466,515
Heineken Holding NV		598		49,153


Investments	Shares		Value ($)
Heineken NV		1,541		151,451
Keurig Dr Pepper, Inc.		3,910		132,979
Kirin Holdings Co. Ltd.		4,600		68,071
Pernod Ricard SA		1,173		259,434
Remy Cointreau SA*		23		3,960
Royal Unibrew A/S		184		15,968
Treasury Wine Estates Ltd.		483		3,662

				2,922,013

Biotechnology - 0.8%
CSL Ltd.		2,576		466,107
Gilead Sciences, Inc.		3,910		297,708
Grifols SA*		120		1,766
Swedish Orphan Biovitrum AB*		529		10,371
Vertex Pharmaceuticals, Inc.*		1,633		575,371

				1,351,323

Broadline Retail - 4.0%
Allegro.eu SA*(b)		3,128		27,657
Amazon.com, Inc.*		44,022		5,884,861
eBay, Inc.		3,174		141,275
Etsy, Inc.*(a)		460		46,759
Isetan Mitsukoshi Holdings Ltd.		4,600		49,892
J Front Retailing Co. Ltd.		2,300		22,388
Next plc		713		64,657
Prosus NV*		2,484		197,271
Wesfarmers Ltd.		8,579		287,025

				6,721,785

Building Products - 0.4%
Assa Abloy AB, Class B		4,278		103,006
Belimo Holding AG (Registered)		46		24,898
Cie de Saint-Gobain		3,174		215,149
Fletcher Building Ltd.		7,199		25,000
Lixil Corp.		4,600		58,844
Nibe Industrier AB, Class B		5,957		53,711
Reliance Worldwide Corp. Ltd.		5,842		16,612
ROCKWOOL A/S, Class B		115		31,041
Trane Technologies plc		920		183,485

				711,746

Capital Markets - 1.6%
abrdn plc		12,719		37,950
ASX Ltd.		460		19,252
BlackRock, Inc.		1,104		815,691
Daiwa Securities Group, Inc.		9,200		49,866
FactSet Research Systems, Inc.		184		80,047
Goldman Sachs Group, Inc. (The)		1,679		597,506
Hargreaves Lansdown plc		1,357		14,865
Hong Kong Exchanges & Clearing Ltd.		6,900		288,256
IG Group Holdings plc		1,656		15,085
Julius Baer Group Ltd.		1,104		78,452
London Stock Exchange Group plc		2,300		250,416
Macquarie Group Ltd.		2,921		344,475
Man Group plc		805		2,473
Nasdaq, Inc.		483		24,387
Schroders plc		7,613		44,990

				2,663,711

Chemicals - 0.8%
Air Liquide SA		1,725		310,694
Akzo Nobel NV		759		65,072


Investments	Shares		Value ($)
Arkema SA		506		54,651
BASF SE		5,290		284,451
Chr Hansen Holding A/S		368		27,875
Covestro AG*(b)		736		39,625
Croda International plc		368		27,888
DuPont de Nemours, Inc.		1,587		123,199
Ecolab, Inc.		966		176,913
Hexpol AB		2,691		29,273
Kansai Paint Co. Ltd.(a)		2,300		37,702
LANXESS AG		782		26,400
Novozymes A/S, Class B(a)		529		26,609
Orica Ltd.		3,749		39,789
Solvay SA		460		55,333
Yara International ASA		184		7,537

				1,333,011

Commercial Services & Supplies - 0.4%
Brambles Ltd.		7,958		75,450
Cintas Corp.		552		277,126
Elis SA		1,449		30,019
ISS A/S		1,725		34,950
Rentokil Initial plc		11,914		97,340
SPIE SA		759		22,829
TOPPAN, Inc.		2,300		54,101

				591,815

Communications Equipment - 0.0%(c)
F5, Inc.*		345		54,593

Construction & Engineering - 0.5%
AECOM		437		38,019
Balfour Beatty plc		2,231		10,030
Bouygues SA		483		17,345
Eiffage SA		529		55,187
Ferrovial SE		2,693		89,491
Obayashi Corp.		6,900		63,838
Shimizu Corp.		6,900		47,573
Sweco AB, Class B		2,691		27,761
Vinci SA		3,450		406,169
Worley Ltd.		2,024		23,677
WSP Global, Inc.		299		41,264

				820,354

Construction Materials - 0.1%
Holcim Ltd.		2,852		199,378
Wienerberger AG		437		14,368

				213,746

Consumer Finance - 0.0%(c)
Cembra Money Bank AG		138		10,507
Marui Group Co. Ltd.		2,300		41,199

				51,706

Consumer Staples Distribution & Retail - 1.7%
Aeon Co. Ltd.		4,600		99,654
Carrefour SA		4,370		87,642
Coles Group Ltd.		4,554		55,820
J Sainsbury plc(a)		10,005		35,709
Jeronimo Martins SGPS SA		1,334		36,417
Koninklijke Ahold Delhaize NV		5,382		186,236
Kroger Co. (The)(a)		2,530		123,059
Loblaw Cos. Ltd.		897		79,733
Marks & Spencer Group plc*		12,650		33,578


Investments	Shares		Value ($)
Ocado Group plc*(a)		1,403		16,940
Target Corp.		1,978		269,938
Walgreens Boots Alliance, Inc.		3,611		108,222
Walmart, Inc.		9,315		1,489,096
Woolworths Group Ltd.(a)		9,683		251,991

				2,874,035

Containers & Packaging - 0.2%
Amcor plc		8,740		89,672
Ball Corp.(a)		437		25,648
Billerud Aktiebolag		230		1,965
DS Smith plc		8,165		32,525
Huhtamaki OYJ		230		8,193
Orora Ltd.		11,316		27,375
Smurfit Kappa Group plc		1,679		66,624
Verallia SA(b)		184		8,180

				260,182

Distributors - 0.0%(c)
D’ieteren Group		92		16,098
Inchcape plc		1,955		20,588

				36,686

Diversified Consumer Services - 0.0%(c)
Pearson plc		3,864		42,985

Diversified REITs - 0.1%
British Land Co. plc (The), REIT		23		100
Charter Hall Group, REIT		1,196		9,212
Charter Hall Long Wale REIT, REIT(a)		23		64
Land Securities Group plc, REIT		8,188		68,204
Mirvac Group, REIT		51,175		80,693
Stockland, REIT		22,448		63,834

				222,107

Diversified Telecommunication Services - 0.8%
BT Group plc(a)		35,328		55,455
Cellnex Telecom SA(b)		3,266		133,738
Chorus Ltd.		3,013		16,126
Deutsche Telekom AG (Registered)		20,907		457,378
Elisa OYJ		1,242		64,963
Infrastrutture Wireless Italiane SpA(b)		1,403		17,658
Koninklijke KPN NV		21,482		77,971
Singapore Telecommunications Ltd.		36,800		73,722
Spark New Zealand Ltd.		13,179		42,486
Swisscom AG (Registered)		138		89,214
Telecom Italia SpA*(a)		53,291		15,412
Telenor ASA		2,967		31,821
Telstra Group Ltd.		67,482		193,714
TELUS Corp.		3,243		57,850

				1,327,508

Electric Utilities - 0.8%
Chugoku Electric Power Co., Inc. (The)*		4,600		31,949
Contact Energy Ltd.		1,633		8,446
EDP - Energias de Portugal SA		11,454		53,672
Elia Group SA/NV		368		45,402
Endesa SA(a)		1,380		29,647
Enel SpA		27,876		192,768


Investments	Shares		Value ($)
Fortum OYJ		253		3,434
Iberdrola SA(a)		33,589		420,516
Kansai Electric Power Co., Inc. (The)		4,600		60,543
Kyushu Electric Power Co., Inc.*		4,600		31,285
Origin Energy Ltd.		8,878		50,671
Orsted A/S(b)		1,104		96,561
Redeia Corp. SA		4,071		68,247
SSE plc		5,911		128,189
Terna - Rete Elettrica Nazionale		3,657		30,998
Verbund AG		299		24,840

				1,277,168

Electrical Equipment - 0.8%
ABB Ltd. (Registered)		6,325		254,357
Fujikura Ltd.		2,300		19,215
Legrand SA		1,495		150,194
NEL ASA*(a)		22,080		30,065
Nexans SA		253		22,511
Nidec Corp.		2,300		136,838
Prysmian SpA		1,610		64,347
Schneider Electric SE		2,093		373,929
Siemens Energy AG*		3,036		51,516
Signify NV(b)		1,058		33,327
Vestas Wind Systems A/S*		6,118		164,407

				1,300,706

Electronic Equipment, Instruments & Components - 0.9%
CDW Corp.		943		176,407
Corning, Inc.		2,967		100,700
Flex Ltd.*		1,150		31,464
Halma plc		1,242		35,732
Hexagon AB, Class B		6,463		62,708
Ibiden Co. Ltd.		1,500		91,068
Jabil, Inc.		322		35,636
Keyence Corp.		700		314,133
Kyocera Corp.		800		43,041
Murata Manufacturing Co. Ltd.		4,600		269,531
Omron Corp.		1,200		64,375
Shimadzu Corp.(a)		2,300		69,787
TDK Corp.		2,300		88,014
Venture Corp. Ltd.		2,300		25,948
Yokogawa Electric Corp.		2,300		43,165

				1,451,709

Energy Equipment & Services - 0.4%
Baker Hughes Co., Class A(a)		3,082		110,305
Schlumberger NV		9,246		539,412
Tenaris SA		1,265		21,102

				670,819

Entertainment - 0.6%
Activision Blizzard, Inc.*		2,461		228,282
Bollore SE		4,117		26,101
Walt Disney Co. (The)*		8,418		748,276

				1,002,659

Financial Services - 2.2%
AMP Ltd.		26,105		19,878
Apollo Global Management, Inc.		2,254		184,174
Berkshire Hathaway, Inc., Class B*		8,280		2,914,229
Edenred		1,564		101,877
EXOR NV		598		56,003


Investments	Shares		Value ($)
Kinnevik AB, Class B*		1,012		13,835
M&G plc		9,522		24,577
ORIX Corp.		6,900		132,629
OSB Group plc		2,783		13,149
PayPal Holdings, Inc.*		3,105		235,421
Wendel SE		161		15,940
Worldline SA*(b)		322		12,791

				3,724,503

Food Products - 1.2%
AAK AB		2,898		55,767
Ajinomoto Co., Inc.		4,600		179,267
Associated British Foods plc		2,231		58,846
Bakkafrost P/F		391		22,861
Danone SA		1,357		83,082
Darling Ingredients, Inc.*		23		1,593
General Mills, Inc.		2,898		216,597
Hershey Co. (The)		736		170,244
JDE Peet’s NV		230		6,958
Kellogg Co.		2,001		133,847
Kerry Group plc, Class A(a)		575		57,285
McCormick & Co., Inc. (Non-Voting)		943		84,380
MEIJI Holdings Co. Ltd.		2,300		53,226
Mowi ASA		1,587		27,962
Nestle SA (Registered)		6,233		768,510
Orkla ASA		276		2,185
Viscofan SA		184		11,969

				1,934,579

Gas Utilities - 0.1%
APA Group		9,108		61,374
Enagas SA(a)		989		17,594
Naturgy Energy Group SA(a)		805		24,621
Rubis SCA		897		22,173
Snam SpA		11,385		60,026
Tokyo Gas Co. Ltd.		2,300		52,207

				237,995

Ground Transportation - 0.3%
Canadian National Railway Co.		3,220		391,024
MTR Corp. Ltd.		11,500		52,864

				443,888

Health Care Equipment & Supplies - 2.3%
Alcon, Inc.		2,852		243,597
Ansell Ltd.(a)		1,288		20,951
Becton Dickinson & Co.		1,380		384,495
Boston Scientific Corp.*		4,301		223,007
Carl Zeiss Meditec AG		230		26,715
Cochlear Ltd.		506		81,553
Coloplast A/S, Class B		391		48,729
ConvaTec Group plc(b)		4,094		10,988
Demant A/S*		782		31,272
Edwards Lifesciences Corp.*		2,553		209,525
Elekta AB, Class B		3,519		28,554
EssilorLuxottica SA		1,196		241,234
Fisher & Paykel Healthcare Corp. Ltd.		3,496		53,458
Getinge AB, Class B		1,909		35,636
Hologic, Inc.*		1,357		107,773
Hoya Corp.		2,300		267,589


Investments	Shares		Value ($)
IDEXX Laboratories, Inc.*		230		127,588
Koninklijke Philips NV*		7,038		146,721
Medtronic plc		4,393		385,530
Olympus Corp.		6,900		112,499
Smith & Nephew plc		2,645		40,328
Straumann Holding AG (Registered)		897		149,164
Stryker Corp.		2,300		651,843
Terumo Corp.		2,300		75,291
Zimmer Biomet Holdings, Inc.		667		92,146

				3,796,186

Health Care Providers & Services - 1.9%
Amplifon SpA		322		10,931
Cardinal Health, Inc.		1,081		98,879
Cigna Group (The)		920		271,492
CVS Health Corp.		4,439		331,549
Elevance Health, Inc.		1,541		726,782
Fresenius Medical Care AG & Co. KGaA		667		34,726
Fresenius SE & Co. KGaA		874		27,492
Galenica AG(b)		483		39,059
Sonic Healthcare Ltd.		1,311		31,052
UnitedHealth Group, Inc.		3,013		1,525,693

				3,097,655

Health Care REITs - 0.2%
Healthpeak Properties, Inc., REIT		1,978		43,180
Ventas, Inc., REIT		1,242		60,262
Welltower, Inc., REIT(a)		3,542		290,975

				394,417

Hotels, Restaurants & Leisure - 1.6%
Accor SA		1,357		51,303
Amadeus IT Group SA		989		71,117
Booking Holdings, Inc.*(a)		184		546,627
Caesars Entertainment, Inc.*		1,242		73,303
Compass Group plc		8,694		226,743
Domino’s Pizza Enterprises Ltd.		207		6,849
Domino’s Pizza, Inc.		23		9,125
Entain plc		2,806		50,039
Greggs plc		851		30,242
Hilton Worldwide Holdings, Inc.		1,058		164,508
InterContinental Hotels Group plc		1,081		80,058
Kindred Group plc, SDR		1,426		17,168
La Francaise des Jeux SAEM(b)		782		29,935
Las Vegas Sands Corp.*		1,104		66,030
MGM Resorts International		1,564		79,404
Oriental Land Co. Ltd.		9,200		352,900
Sodexo SA		529		54,441
SSP Group plc*		9,407		30,453
Starbucks Corp.		3,795		385,458
TUI AG*		4,324		35,050
Whitbread plc		736		33,135
Yum China Holdings, Inc.		1,426		87,015
Yum! Brands, Inc.		1,564		215,316

				2,696,219

Household Durables - 1.1%
Barratt Developments plc		6,302		37,031
Electrolux AB, Class B		1,380		17,074
GN Store Nord A/S*		1,587		42,532


Investments	Shares		Value ($)
Nikon Corp.		2,300		30,369
Panasonic Holdings Corp.		11,500		142,455
Persimmon plc		1,081		16,120
SEB SA		253		28,425
Sekisui Chemical Co. Ltd.		2,300		34,950
Sekisui House Ltd.(a)		4,600		93,858
Sony Group Corp.		13,800		1,293,264
Taylor Wimpey plc		18,170		26,733
Vistry Group plc		920		9,346

				1,772,157

Household Products - 1.2%
Clorox Co. (The)		391		59,229
Colgate-Palmolive Co.		2,254		171,890
Essity AB, Class B		2,438		60,535
Henkel AG & Co. KGaA (Preference)		1,127		87,204
Kimberly-Clark Corp.		1,265		163,312
Pigeon Corp.		2,300		31,081
Procter & Gamble Co. (The)		7,728		1,207,886
Reckitt Benckiser Group plc		3,082		231,503
Unicharm Corp.		1,200		44,485

				2,057,125

Independent Power and Renewable Electricity Producers - 0.1%
AES Corp. (The)		1,679		36,317
EDP Renovaveis SA		3,128		59,905
Meridian Energy Ltd.		9,085		31,917

				128,139

Industrial Conglomerates - 0.5%
3M Co.		2,070		230,805
CK Hutchison Holdings Ltd.		11,500		70,929
DCC plc		299		17,354
Hitachi Ltd.		4,600		301,033
Investment AB Latour, Class B		2,139		43,157
Keppel Corp. Ltd.		4,600		25,567
Toshiba Corp.		2,300		74,287

				763,132

Industrial REITs - 0.2%
CapitaLand Ascendas REIT, REIT		2,300		4,867
Goodman Group, REIT		13,156		182,091
Segro plc, REIT		3,588		35,224
Warehouses De Pauw CVA, REIT		621		18,404

				240,586

Insurance - 1.6%
Admiral Group plc		690		18,901
Aegon NV(a)		5,221		28,460
Aflac, Inc.		2,231		161,391
Ageas SA/NV		1,334		56,670
ASR Nederland NV		644		29,318
Assicurazioni Generali SpA		6,854		146,452
Aviva plc		13,087		65,400
AXA SA		11,017		339,746
Beazley plc		3,772		26,620
Direct Line Insurance Group plc		3,680		7,124
Hannover Rueck SE		253		54,157
Hiscox Ltd.		1,127		15,646
Insurance Australia Group Ltd.		13,340		53,306
Japan Post Holdings Co. Ltd.		9,200		67,278
Medibank Pvt Ltd.		14,122		33,402


Investments	Shares		Value ($)
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		851		321,451
nib holdings Ltd.		2,116		11,806
NN Group NV		753		28,958
Phoenix Group Holdings plc		368		2,605
Poste Italiane SpA(a)(b)		2,944		33,741
Power Corp. of Canada		2,875		81,603
Principal Financial Group, Inc.		1,196		95,524
Prudential plc		7,015		97,705
Sampo OYJ, Class A		2,783		123,012
Storebrand ASA		6,233		54,613
Sun Life Financial, Inc.		1,656		87,313
Suncorp Group Ltd.		6,072		58,224
Swiss Life Holding AG (Registered)		138		88,004
Swiss Re AG		1,265		132,651
Topdanmark A/S(a)		24		1,091
Tryg A/S		897		17,769
Zurich Insurance Group AG		667		323,786

				2,663,727

Interactive Media & Services - 4.4%
Alphabet, Inc., Class C*		18,883		2,513,516
Auto Trader Group plc(b)		5,520		45,881
carsales.com Ltd.		2,795		46,821
Meta Platforms, Inc., Class A*		14,168		4,513,925
REA Group Ltd.		575		61,037
Snap, Inc., Class A*(a)		5,014		56,959
Z Holdings Corp.		25,300		70,480

				7,308,619

IT Services - 2.7%
Accenture plc, Class A		6,371		2,015,466
Akamai Technologies, Inc.*		1,196		113,022
Alten SA		92		13,288
Amdocs Ltd.		805		75,380
Bechtle AG		1,012		44,665
Capgemini SE		1,081		196,478
CGI, Inc.*		2,070		210,735
Cognizant Technology Solutions Corp., Class A		2,760		182,243
Computacenter plc		575		16,232
Fujitsu Ltd.		1,600		207,038
Gartner, Inc.*		506		178,916
International Business Machines Corp.		5,842		842,300
NEC Corp.		2,300		116,279
Nomura Research Institute Ltd.		2,300		65,254
NTT Data Group Corp.		4,600		63,959
Softcat plc		828		15,980
Sopra Steria Group SACA		115		25,067
TietoEVRY OYJ		736		18,826

				4,401,128

Leisure Products - 0.1%
Bandai Namco Holdings, Inc.		2,900		65,601
Thule Group AB(b)		828		25,878
Yamaha Corp.		900		34,840

				126,319


Investments	Shares		Value ($)
Life Sciences Tools & Services - 0.8%
Danaher Corp.		2,323		592,504
Eurofins Scientific SE		506		34,913
Gerresheimer AG		23		2,731
Illumina, Inc.*		368		70,711
IQVIA Holdings, Inc.*		1,265		283,056
Lonza Group AG (Registered)		299		174,257
QIAGEN NV*		529		24,876
Sartorius AG (Preference)		115		47,586
Siegfried Holding AG (Registered)		23		20,417
Tecan Group AG (Registered)		92		36,764
Wuxi Biologics Cayman, Inc.*(b)		11,500		65,030

				1,352,845

Machinery - 1.4%
Aalberts NV		897		40,578
Alfa Laval AB		1,357		50,871
Alstom SA		1,633		50,089
ANDRITZ AG		299		15,844
Atlas Copco AB, Class A		9,844		140,247
Bucher Industries AG (Registered)		46		20,589
CNH Industrial NV		2,875		41,557
Cummins, Inc.		322		83,978
Ebara Corp.		300		14,155
Epiroc AB, Class A		4,646		92,898
FANUC Corp.		4,400		134,651
Fortive Corp.		1,564		122,539
GEA Group AG		690		29,358
Georg Fischer AG (Registered)		621		42,589
Husqvarna AB, Class B(a)		4,278		42,078
IMI plc		667		13,980
Indutrade AB		1,610		33,847
KION Group AG		483		20,300
Knorr-Bremse AG		391		27,564
Komatsu Ltd.		2,300		64,169
Kone OYJ, Class B		1,679		86,339
Kubota Corp.		4,600		69,431
Metso OYJ		3,864		43,987
MINEBEA MITSUMI, Inc.		2,300		42,542
Nordson Corp.		253		63,657
NSK Ltd.		4,600		29,750
Otis Worldwide Corp.		1,817		165,274
Rotork plc		7,199		28,566
Sandvik AB		3,266		66,455
Schindler Holding AG		253		61,641
Seatrium Ltd.*		138,000		14,654
SFS Group AG		23		2,744
SKF AB, Class B		1,840		35,128
Spirax-Sarco Engineering plc		299		42,799
Stanley Black & Decker, Inc.		759		75,346
Techtronic Industries Co. Ltd.		6,500		73,387
Trelleborg AB, Class B		1,978		52,765
Valmet OYJ		1,426		37,907
Volvo AB, Class B		8,786		194,032
Wartsila OYJ Abp(a)		3,427		43,169
Weir Group plc (The)		1,035		24,436

				2,335,890

Marine Transportation - 0.1%
AP Moller - Maersk A/S, Class B		23		47,417


Investments	Shares		Value ($)
Mitsui OSK Lines Ltd.		2,300		59,491
Nippon Yusen KK		2,300		55,816
Pacific Basin Shipping Ltd.		23,000		7,462

				170,186

Media - 0.3%
Dentsu Group, Inc.		1,200		40,135
Informa plc(a)		7,590		74,043
Interpublic Group of Cos., Inc. (The)		2,162		74,005
ITV plc		19,343		18,004
Publicis Groupe SA		1,380		111,710
SES SA, Class A, ADR		5,612		36,445
Vivendi SE		575		5,149
WPP plc		4,738		51,915

				411,406

Metals & Mining - 1.5%
Anglo American plc		6,463		199,076
Antofagasta plc		1,679		36,239
ArcelorMittal SA		3,703		107,376
Aurubis AG		184		17,353
BHP Group Ltd.		31,832		986,914
BlueScope Steel Ltd.		1,863		27,418
Boliden AB		184		5,430
Fortescue Metals Group Ltd.		13,202		192,869
IGO Ltd.		1,311		12,191
Iluka Resources Ltd.		2,990		20,591
Lynas Rare Earths Ltd.*(a)		1,633		7,406
Mineral Resources Ltd.(a)		1,127		54,246
Newcrest Mining Ltd.		6,118		108,878
Newmont Corp.		1,794		77,031
Norsk Hydro ASA		3,059		20,078
Northern Star Resources Ltd.(a)		7,291		56,549
Rio Tinto Ltd.		2,024		159,669
Rio Tinto plc		4,531		300,235
Sims Ltd.		483		4,915
South32 Ltd.		28,497		74,507
SSAB AB, Class B		2,737		16,759
thyssenkrupp AG		2,645		21,084
voestalpine AG		621		20,609

				2,527,423

Multi-Utilities - 0.5%
A2A SpA		10,971		20,993
AGL Energy Ltd.		5,083		41,753
Centrica plc		14,122		25,084
Engie SA		10,695		175,839
Hera SpA		8,119		25,279
National Grid plc		20,079		266,484
Public Service Enterprise Group, Inc.		2,898		182,922
Veolia Environnement SA		2,622		85,570

				823,924

Office REITs - 0.0%(c)
Covivio SA, REIT		23		1,114
Dexus, REIT(a)		2,231		12,358
Gecina SA, REIT		437		47,386

				60,858

Oil, Gas & Consumable Fuels - 6.1%
Ampol Ltd.		1,564		34,621


Investments	Shares		Value ($)
BP plc		52,118		323,888
Cameco Corp.		1,472		51,846
Chevron Corp.		16,928		2,770,437
Coterra Energy, Inc.		4,117		113,382
Enbridge, Inc.		11,063		407,471
Eni SpA		16,353		250,329
Equinor ASA		6,003		183,001
Exxon Mobil Corp.		32,706		3,507,391
Gaztransport Et Technigaz SA		92		11,249
Idemitsu Kosan Co. Ltd.		2,300		48,564
Marathon Oil Corp.		1,610		42,295
Neste OYJ		1,196		44,122
OMV AG		276		12,476
Phillips 66(a)		3,013		336,100
Repsol SA		2,438		37,363
Shell plc(a)		38,203		1,178,748
Suncor Energy, Inc.		4,899		153,567
TotalEnergies SE		7,866		479,251
Woodside Energy Group Ltd.(a)		6,072		155,441

				10,141,542

Paper & Forest Products - 0.0%(c)
Holmen AB, Class B		1,104		42,605
Mondi plc		115		2,021
Stora Enso OYJ, Class R		1,081		13,295
Svenska Cellulosa AB SCA, Class B		828		11,016

				68,937

Passenger Airlines - 0.1%
Air France-KLM*(a)		9,499		16,448
ANA Holdings, Inc.*		2,300		55,136
International Consolidated Airlines Group SA*		16,330		35,950
Qantas Airways Ltd.*		14,720		64,772
Singapore Airlines Ltd.		6,900		39,130

				211,436

Personal Care Products - 1.2%
Beiersdorf AG		437		56,758
Estee Lauder Cos., Inc. (The), Class A		966		173,880
Haleon plc		30,498		131,965
Kao Corp.		1,200		45,625
L’Oreal SA		1,426		665,370
Shiseido Co. Ltd.		3,400		149,085
Unilever plc		15,203		819,843

				2,042,526

Pharmaceuticals - 9.8%
Astellas Pharma, Inc.		13,800		202,076
AstraZeneca plc		8,763		1,261,212
Bristol-Myers Squibb Co.		13,915		865,374
Chugai Pharmaceutical Co. Ltd.		2,300		68,492
Daiichi Sankyo Co. Ltd.		6,900		211,109
Dechra Pharmaceuticals plc		621		29,675
Eisai Co. Ltd.		1,300		82,128
Eli Lilly & Co.		2,668		1,212,739
GSK plc		24,104		429,412
Hikma Pharmaceuticals plc		828		22,255
Ipsen SA		115		14,531
Johnson & Johnson		25,093		4,203,830


Investments	Shares		Value ($)
Merck & Co., Inc.		16,123		1,719,518
Merck KGaA		552		97,255
Novartis AG (Registered)		13,938		1,464,306
Novo Nordisk A/S, Class B		7,107		1,148,383
Ono Pharmaceutical Co. Ltd.		2,300		42,113
Orion OYJ, Class B		46		1,772
Pfizer, Inc.		27,554		993,597
Roche Holding AG		2,254		703,619
Sanofi		6,785		726,311
Santen Pharmaceutical Co. Ltd.		2,300		20,106
Shionogi & Co. Ltd.		4,000		167,004
Takeda Pharmaceutical Co. Ltd.		6,900		210,817
UCB SA		460		40,838
Zoetis, Inc., Class A		2,323		436,933

				16,375,405

Professional Services - 0.8%
Adecco Group AG (Registered)		138		5,637
ALS Ltd.		1,794		14,192
Arcadis NV(a)		506		22,260
Automatic Data Processing, Inc.		1,196		295,723
Bureau Veritas SA		2,875		79,182
Computershare Ltd.		1,564		26,432
Experian plc		1,633		63,222
Intertek Group plc		1,012		56,797
Randstad NV		138		8,107
RELX plc		10,396		350,452
SGS SA (Registered)		1,035		100,819
Teleperformance		437		63,479
Verisk Analytics, Inc., Class A		690		157,969

				1,244,271

Real Estate Management & Development - 0.6%
CapitaLand Investment Ltd.		18,400		47,115
Castellum AB		736		8,402
CBRE Group, Inc., Class A*		2,829		235,684
CK Asset Holdings Ltd.		11,500		66,357
Daiwa House Industry Co. Ltd.		4,600		125,037
Hongkong Land Holdings Ltd.		4,600		16,376
Kojamo OYJ		3,841		37,606
Mitsubishi Estate Co. Ltd.		6,900		84,356
Mitsui Fudosan Co. Ltd.		2,300		47,245
Sagax AB, Class B		1,564		34,815
Sun Hung Kai Properties Ltd.		6,000		75,051
Swire Properties Ltd.		9,200		23,004
Swiss Prime Site AG (Registered)		874		85,096
Tokyu Fudosan Holdings Corp.		4,600		27,335
Vonovia SE		3,013		70,559
Wihlborgs Fastigheter AB		5,658		44,316

				1,028,354

Residential REITs - 0.1%
Camden Property Trust, REIT		69		7,527
Equity Residential, REIT		644		42,465
Essex Property Trust, Inc., REIT		230		56,017
Sun Communities, Inc., REIT		368		47,951

				153,960

Retail REITs - 0.1%
CapitaLand Integrated Commercial Trust, REIT		29,900		45,938
Klepierre SA, REIT		644		17,147
Link REIT, REIT		18,400		102,986
Vicinity Ltd., REIT		8,142		10,836

				176,907


Investments	Shares		Value ($)
Semiconductors & Semiconductor Equipment - 4.7%
Advanced Micro Devices, Inc.*		5,152		589,389
Advantest Corp.		600		82,454
AIXTRON SE		253		10,064
ams-OSRAM AG*		3,634		32,397
Applied Materials, Inc.		5,336		808,884
ASM International NV		299		142,661
ASML Holding NV		1,794		1,290,035
BE Semiconductor Industries NV		529		63,370
First Solar, Inc.*		322		66,783
Infineon Technologies AG		6,141		270,830
Intel Corp.		26,841		960,103
KLA Corp.		414		212,775
Lam Research Corp.		644		462,708
Microchip Technology, Inc.		1,633		153,404
Micron Technology, Inc.		8,809		628,875
Nordic Semiconductor ASA*		2,001		29,511
QUALCOMM, Inc.		3,312		437,747
Renesas Electronics Corp.*		11,500		223,031
Skyworks Solutions, Inc.		460		52,610
SOITEC*		161		31,766
STMicroelectronics NV		3,565		191,184
SUMCO Corp.(a)		2,300		33,509
Texas Instruments, Inc.		4,278		770,040
Tokyo Electron Ltd.		2,300		343,915

				7,888,045

Software - 9.2%
Adobe, Inc.*		2,944		1,607,924
Autodesk, Inc.*		1,840		390,062
Crowdstrike Holdings, Inc., Class A*		874		141,291
Dassault Systemes SE		2,967		127,203
DocuSign, Inc., Class A*		391		21,044
Fortinet, Inc.*		3,174		246,683
Gen Digital, Inc.		2,990		58,155
Intuit, Inc.		1,403		717,915
Microsoft Corp.		24,081		8,089,290
Oracle Corp.		4,784		560,828
Palo Alto Networks, Inc.*(a)		1,449		362,192
Sage Group plc (The)		6,026		72,618
Salesforce, Inc.*		4,784		1,076,448
SAP SE		5,934		813,891
ServiceNow, Inc.*		690		402,270
SimCorp A/S		230		24,755
Splunk, Inc.*		552		59,798
Synopsys, Inc.*		713		322,133
Temenos AG (Registered)		368		31,738
WiseTech Global Ltd.		943		54,514
Workday, Inc., Class A*		713		169,074

				15,349,826

Specialized REITs - 0.4%
American Tower Corp., REIT		1,334		253,874
Big Yellow Group plc, REIT		3,105		42,867
Iron Mountain, Inc., REIT		1,909		117,213
Keppel DC REIT, REIT		2,300		3,793


Investments	Shares		Value ($)
Safestore Holdings plc, REIT		3,956		45,097
Weyerhaeuser Co., REIT		3,657		124,557

				587,401

Specialty Retail - 1.4%
AutoZone, Inc.*(a)		69		171,239
Bath & Body Works, Inc.		1,541		57,110
Best Buy Co., Inc.(a)		1,357		112,699
H & M Hennes & Mauritz AB, Class B		2,898		48,762
Industria de Diseno Textil SA		2,944		112,990
JB Hi-Fi Ltd.		874		26,885
Kingfisher plc(a)		10,212		32,283
Lowe’s Cos., Inc.		2,829		662,750
Nitori Holdings Co. Ltd.		600		73,712
Ross Stores, Inc.		2,254		258,399
TJX Cos., Inc. (The)		5,911		511,479
Tractor Supply Co.		391		87,580
WH Smith plc		1,150		22,091
Williams-Sonoma, Inc.(a)		391		54,208
Zalando SE*(b)		644		22,295

				2,254,482

Technology Hardware, Storage & Peripherals - 5.6%
Apple, Inc.		43,378		8,521,608
Brother Industries Ltd.		2,300		35,832
FUJIFILM Holdings Corp.		3,600		208,961
Hewlett Packard Enterprise Co.		8,004		139,109
HP, Inc.		6,072		199,344
Logitech International SA (Registered)		552		39,150
NetApp, Inc.		1,058		82,534
Ricoh Co. Ltd.		2,300		20,454
Seiko Epson Corp.		2,300		37,759
Western Digital Corp.*		1,771		75,374

				9,360,125

Textiles, Apparel & Luxury Goods - 2.0%
adidas AG		437		88,654
Asics Corp.		2,300		72,490
Brunello Cucinelli SpA		207		17,562
Burberry Group plc		2,024		57,891
Christian Dior SE		23		20,338
Deckers Outdoor Corp.*		115		62,524
Hermes International		138		306,814
HUGO BOSS AG		391		31,686
Kering SA		460		265,556
Lululemon Athletica, Inc.*		989		374,366
LVMH Moet Hennessy Louis Vuitton SE		1,518		1,419,440
Moncler SpA		1,242		89,995
NIKE, Inc., Class B		4,140		457,015
Pandora A/S		690		69,252
Puma SE		23		1,558
Swatch Group AG (The)		207		66,481

				3,401,622

Trading Companies & Distributors - 1.0%
AddTech AB, Class B		989		18,467
Ashtead Group plc		2,369		175,630
Beijer Ref AB, Class B		2,829		38,555
Bunzl plc		736		27,348


Investments	Shares		Value ($)
Diploma plc		805		33,538
Ferguson plc		1,863		301,098
Grafton Group plc		3,036		34,215
IMCD NV		253		38,480
ITOCHU Corp.(a)		6,900		279,244
Mitsui & Co. Ltd.		9,200		358,792
Rexel SA		1,219		29,461
Sojitz Corp.		1,599		37,983
Sumitomo Corp.(a)		6,900		147,975
Toyota Tsusho Corp.		1,900		110,927
Travis Perkins plc		3,864		43,293

				1,675,006

Transportation Infrastructure - 0.3%
Aena SME SA(b)		345		55,307
Aeroports de Paris		230		31,851
Auckland International Airport Ltd.*		10,189		53,265
Flughafen Zurich AG (Registered)		92		19,560
Getlink SE		2,047		36,099
Qube Holdings Ltd.		1,449		2,871
SATS Ltd.*		16,100		33,951
Transurban Group		20,608		199,135

				432,039

Water Utilities - 0.1%
American Water Works Co., Inc.		874		128,854
Severn Trent plc		1,380		45,348
United Utilities Group plc		3,565		45,823

				220,025

Wireless Telecommunication Services - 0.1%
Millicom International Cellular SA, SDR*(a)		897		13,945
Tele2 AB, Class B		2,415		18,207
Vodafone Group plc		97,957		93,809

				125,961

TOTAL COMMON STOCKS (COST $126,142,282)				164,716,327


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 0.2%(d)

REPURCHASE AGREEMENTS - 0.2%
Citigroup Global Markets, Inc., 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $295,750, collateralized by various U.S. Treasury Securities, ranging from 0.50% - 2.63%, maturing 8/31/2026 - 2/15/2029; total market value $299,354 (Cost $295,707)		295,707		295,707

Total Investments - 99.2% (Cost $126,437,989)				165,012,034
Other assets less liabilities - 0.8%				1,376,145

Net Assets - 100.0%				166,388,179

FlexShares^® STOXX^® Global ESG Select Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® STOXX^® Global ESG Select Index Fund had the following outstanding contracts as of July 31, 2023:

FlexShares^® STOXX^® Global ESG Select Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 99.0%

Air Freight & Logistics - 0.2%
Expeditors International of Washington, Inc.		116		14,767
United Parcel Service, Inc., Class B		319		59,694

				74,461

Automobiles - 2.3%
Tesla, Inc.*		3,219		860,857

Banks - 3.4%
Bank of America Corp.		13,224		423,168
Citigroup, Inc.		6,496		309,599
Fifth Third Bancorp		812		23,629
JPMorgan Chase & Co.		3,480		549,701

				1,306,097

Beverages - 1.5%
Coca-Cola Co. (The)		1,073		66,451
PepsiCo, Inc.		2,581		483,834

				550,285

Biotechnology - 2.7%
AbbVie, Inc.		2,378		355,701
Amgen, Inc.		1,363		319,147
Biogen, Inc.*		667		180,217
Regeneron Pharmaceuticals, Inc.*		145		107,577
Vertex Pharmaceuticals, Inc.*		116		40,871

				1,003,513

Broadline Retail - 3.6%
Amazon.com, Inc.*		8,961		1,197,907
eBay, Inc.		2,610		116,171
Etsy, Inc.*		580		58,957

				1,373,035

Building Products - 1.2%
Johnson Controls International plc		3,190		221,865
Trane Technologies plc		1,073		213,999

				435,864

Capital Markets - 3.6%
Goldman Sachs Group, Inc. (The)		435		154,803
Moody’s Corp.		754		265,973
Morgan Stanley		3,364		308,008
MSCI, Inc., Class A		377		206,626
Nasdaq, Inc.		232		11,714
S&P Global, Inc.		1,015		400,428
State Street Corp.		145		10,504

				1,358,056

Chemicals - 1.3%
Ecolab, Inc.		1,189		217,753
International Flavors & Fragrances, Inc.		1,160		98,148
PPG Industries, Inc.		1,073		154,405
Sherwin-Williams Co. (The)		87		24,055

				494,361


Investments	Shares		Value ($)
Commercial Services & Supplies - 0.8%
Waste Management, Inc.		1,885		308,744

Communications Equipment - 0.7%
Cisco Systems, Inc.		5,017		261,085

Construction & Engineering - 0.3%
Quanta Services, Inc.		551		111,093

Consumer Finance - 0.1%
American Express Co.		261		44,078

Consumer Staples Distribution & Retail - 1.5%
Kroger Co. (The)		3,161		153,751
Sysco Corp.		145		11,065
Target Corp.		1,044		142,475
Walgreens Boots Alliance, Inc.		3,393		101,688
Walmart, Inc.		1,044		166,894

				575,873

Containers & Packaging - 0.2%
Amcor plc		2,030		20,828
Avery Dennison Corp.		377		69,372

				90,200

Diversified Telecommunication Services - 1.2%
AT&T, Inc.		18,676		271,175
Verizon Communications, Inc.		5,046		171,968

				443,143

Electric Utilities - 1.1%
Edison International		725		52,171
Eversource Energy		1,595		115,366
Exelon Corp.		4,495		188,161
NextEra Energy, Inc.		667		48,891

				404,589

Electrical Equipment - 0.3%
Plug Power, Inc.*		2,233		29,297
Rockwell Automation, Inc.		232		78,019

				107,316

Energy Equipment & Services - 0.8%
Baker Hughes Co., Class A		2,697		96,526
Schlumberger NV		3,538		206,407

				302,933

Entertainment - 0.8%
Spotify Technology SA*		377		56,328
Walt Disney Co. (The)*		2,900		257,781

				314,109

Financial Services - 3.4%
Berkshire Hathaway, Inc., Class B*		638		224,550
Mastercard, Inc., Class A		1,450		571,706
Visa, Inc., Class A		2,030		482,592

				1,278,848

Food Products - 0.5%
General Mills, Inc.		812		60,689
Kellogg Co.		174		11,639
Mondelez International, Inc., Class A		1,595		118,237

				190,565


Investments	Shares		Value ($)
Ground Transportation - 1.6%
CSX Corp.		9,889		329,501
Norfolk Southern Corp.		986		230,320
Union Pacific Corp.		145		33,643

				593,464

Health Care Equipment & Supplies - 1.9%
Abbott Laboratories		2,378		264,743
Boston Scientific Corp.*		2,407		124,803
Edwards Lifesciences Corp.*		696		57,120
Insulet Corp.*		29		8,026
Medtronic plc		2,900		254,504

				709,196

Health Care Providers & Services - 3.2%
AmerisourceBergen Corp.		435		81,302
Cigna Group (The)		1,276		376,548
CVS Health Corp.		3,509		262,087
Elevance Health, Inc.		783		369,286
Humana, Inc.		87		39,744
UnitedHealth Group, Inc.		174		88,108

				1,217,075

Health Care REITs - 0.2%
Ventas, Inc., REIT		1,740		84,425

Hotel & Resort REITs - 0.2%
Host Hotels & Resorts, Inc., REIT		3,335		61,364

Hotels, Restaurants & Leisure - 1.4%
Caesars Entertainment, Inc.*		957		56,482
Las Vegas Sands Corp.*		1,566		93,662
Marriott International, Inc., Class A		232		46,820
McDonald’s Corp.		696		204,067
MGM Resorts International		1,566		79,506
Starbucks Corp.		638		64,802

				545,339

Household Products - 1.8%
Church & Dwight Co., Inc.		87		8,323
Clorox Co. (The)		319		48,322
Colgate-Palmolive Co.		2,552		194,616
Kimberly-Clark Corp.		1,131		146,012
Procter & Gamble Co. (The)		1,914		299,158

				696,431

Independent Power and Renewable Electricity Producers - 0.1%
NextEra Energy Partners LP		377		20,528

Industrial Conglomerates - 0.2%
3M Co.		667		74,370

Industrial REITs - 0.9%
Prologis, Inc., REIT		2,813		350,922

Insurance - 2.3%
American International Group, Inc.		1,102		66,429
Chubb Ltd.		957		195,620


Investments	Shares		Value ($)
Hartford Financial Services Group, Inc. (The)		1,508		108,395
Marsh & McLennan Cos., Inc.		725		136,605
MetLife, Inc.		3,190		200,874
Principal Financial Group, Inc.		116		9,265
Prudential Financial, Inc.		1,218		117,525
Travelers Cos., Inc. (The)		261		45,051

				879,764

Interactive Media & Services - 6.3%
Alphabet, Inc., Class A*		7,018		931,429
Alphabet, Inc., Class C*		6,757		899,424
Meta Platforms, Inc., Class A*		1,711		545,125

				2,375,978

IT Services - 1.7%
Accenture plc, Class A		464		146,786
Akamai Technologies, Inc.*		754		71,253
International Business Machines Corp.		2,900		418,122
Okta, Inc., Class A*		145		11,145

				647,306

Leisure Products - 0.1%
Hasbro, Inc.		609		39,317

Life Sciences Tools & Services - 0.9%
Agilent Technologies, Inc.		174		21,188
Illumina, Inc.*		725		139,309
Mettler-Toledo International, Inc.*		58		72,933
Repligen Corp.*		232		39,802
Thermo Fisher Scientific, Inc.		58		31,822
West Pharmaceutical Services, Inc.		145		53,366

				358,420

Machinery - 1.7%
Cummins, Inc.		638		166,390
Deere & Co.		522		224,251
Stanley Black & Decker, Inc.		696		69,092
Westinghouse Air Brake Technologies Corp.		812		96,173
Xylem, Inc.		841		94,823

				650,729

Media - 0.5%
Comcast Corp., Class A		3,045		137,817
Interpublic Group of Cos., Inc. (The)		1,798		61,545

				199,362

Metals & Mining - 0.6%
Newmont Corp.		3,654		156,830
Steel Dynamics, Inc.		609		64,907

				221,737

Multi-Utilities - 1.0%
Consolidated Edison, Inc.		1,624		154,053
Sempra		1,450		216,079

				370,132

Office REITs - 0.1%
Boston Properties, Inc., REIT		667		44,442

Oil, Gas & Consumable Fuels - 3.5%
Antero Resources Corp.*		1,305		34,909


Investments	Shares		Value ($)
Cheniere Energy, Inc.		928		150,206
ConocoPhillips		493		58,036
Devon Energy Corp.		145		7,830
EQT Corp.		1,537		64,831
Exxon Mobil Corp.		667		71,529
Hess Corp.		1,189		180,407
Marathon Petroleum Corp.		2,030		270,030
Occidental Petroleum Corp.		145		9,154
Pioneer Natural Resources Co.		464		104,711
Valero Energy Corp.		1,537		198,135
Williams Cos., Inc. (The)		5,597		192,816

				1,342,594

Personal Care Products - 0.5%
Estee Lauder Cos., Inc. (The), Class A		1,073		193,140

Pharmaceuticals - 4.3%
Bristol-Myers Squibb Co.		2,755		171,333
Eli Lilly & Co.		174		79,092
Johnson & Johnson		3,973		665,597
Merck & Co., Inc.		3,915		417,535
Pfizer, Inc.		8,178		294,898

				1,628,455

Professional Services - 1.6%
Automatic Data Processing, Inc.		1,566		387,209
Equifax, Inc.		29		5,918
Paychex, Inc.		1,508		189,209
Paylocity Holding Corp.*		145		32,893

				615,229

Semiconductors & Semiconductor Equipment - 6.5%
Advanced Micro Devices, Inc.*		87		9,953
Applied Materials, Inc.		1,102		167,052
Enphase Energy, Inc.*		609		92,464
First Solar, Inc.*		435		90,219
Intel Corp.		12,354		441,903
Micron Technology, Inc.		406		28,984
NVIDIA Corp.		3,016		1,409,347
QUALCOMM, Inc.		609		80,492
SolarEdge Technologies, Inc.*		261		63,021
Texas Instruments, Inc.		493		88,740

				2,472,175

Software - 10.9%
Adobe, Inc.*		1,044		570,201
Autodesk, Inc.*		522		110,659
Cadence Design Systems, Inc.*		87		20,359
Microsoft Corp.		7,250		2,435,420
Oracle Corp.		1,653		193,781
Salesforce, Inc.*		2,175		489,397
ServiceNow, Inc.*		145		84,535
Workday, Inc., Class A*		870		206,303

				4,110,655

Specialized REITs - 1.2%
Equinix, Inc., REIT		406		328,827
Weyerhaeuser Co., REIT		3,393		115,566

				444,393

Specialty Retail - 2.5%
Best Buy Co., Inc.		232		19,268
Home Depot, Inc. (The)		841		280,759


Investments	Shares		Value ($)
Lowe’s Cos., Inc.		638		149,464
TJX Cos., Inc. (The)		4,205		363,859
Tractor Supply Co.		522		116,923

				930,273

Technology Hardware, Storage & Peripherals - 8.7%
Apple, Inc.		14,877		2,922,587
Dell Technologies, Inc., Class C		1,247		65,991
Hewlett Packard Enterprise Co.		6,003		104,332
HP, Inc.		4,756		156,140
NetApp, Inc.		406		31,672

				3,280,722

Textiles, Apparel & Luxury Goods - 0.7%
Lululemon Athletica, Inc.*		87		32,932
NIKE, Inc., Class B		1,914		211,286
VF Corp.		1,102		21,831

				266,049

Trading Companies & Distributors - 0.4%
WW Grainger, Inc.		203		149,913

TOTAL COMMON STOCKS (COST $33,888,521)				37,463,004


Investments	Principal Amount ($)		Value ($)
SHORT-TERM INVESTMENTS - 0.1%(a)

U.S. TREASURY OBLIGATIONS - 0.1%
U.S. Treasury Bills 4.91%, 10/26/2023 (Cost $24,713)		25,000		24,686

Total Investments - 99.1% (Cost $33,913,234)				37,487,690
Other assets less liabilities - 0.9%				358,084

Net Assets - 100.0%				37,845,774

*	Non-income producing security.

(a)	The rate shown was the current yield as of July 31, 2023.

Percentages shown are based on Net Assets.


Abbreviations

REIT		Real Estate Investment Trust

FlexShares^® ESG & Climate US Large Cap Core Index Fund had the following open futures contracts as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 98.7%

Air Freight & Logistics - 1.0%
DHL Group		7,769		400,190

Automobile Components - 0.8%
Bridgestone Corp.		3,400		141,020
Cie Generale des Etablissements Michelin SCA		2,193		71,981
Sumitomo Electric Industries Ltd.		8,500		108,882

				321,883

Automobiles - 2.4%
Bayerische Motoren Werke AG		850		103,895
Honda Motor Co. Ltd.		500		15,882
Mercedes-Benz Group AG		2,737		219,204
Porsche Automobil Holding SE (Preference)		2,057		121,970
Toyota Motor Corp.		28,900		485,328

				946,279

Banks - 11.5%
ABN AMRO Bank NV, CVA(a)		3,383		57,665
AIB Group plc		17,595		83,310
ANZ Group Holdings Ltd.		11,390		197,635
Banco Bilbao Vizcaya Argentaria SA		5,202		41,353
Banco Santander SA		34,510		140,154
Bank of Montreal		1,700		158,266
Bank of Nova Scotia (The)		4,641		234,121
Barclays plc		20,213		40,301
BNP Paribas SA		6,953		460,115
Commonwealth Bank of Australia		5,372		382,662
Credit Agricole SA		3,791		47,173
DBS Group Holdings Ltd.		1,700		43,864
HSBC Holdings plc		53,176		442,191
ING Groep NV		16,269		238,209
Mitsubishi UFJ Financial Group, Inc.		39,100		315,376
Mizuho Financial Group, Inc.		3,400		57,528
National Australia Bank Ltd.		11,407		218,453
NatWest Group plc		13,668		42,962
Nordea Bank Abp		2,074		23,504
Resona Holdings, Inc.		1,700		9,266
Royal Bank of Canada		5,117		508,221
Societe Generale SA		4,828		131,561
Sumitomo Mitsui Trust Holdings, Inc.		200		7,780
Toronto-Dominion Bank (The)		6,069		400,957
UniCredit SpA		3,893		98,721
Westpac Banking Corp.		14,127		212,665

				4,594,013

Beverages - 2.3%
Anheuser-Busch InBev SA/NV		2,295		131,705
Asahi Group Holdings Ltd.		1,900		74,820
Carlsberg A/S, Class B		170		25,566
Coca-Cola HBC AG		2,788		82,218


Investments	Shares		Value ($)
Diageo plc		8,024		350,761
Kirin Holdings Co. Ltd.		5,100		75,470
Pernod Ricard SA		612		135,357
Suntory Beverage & Food Ltd.		1,700		60,555

				936,452

Biotechnology - 0.6%
CSL Ltd.		1,258		227,625
Grifols SA*		1,802		26,524

				254,149

Broadline Retail - 0.6%
Canadian Tire Corp. Ltd., Class A		476		65,496
Next plc		1,445		131,037
Rakuten Group, Inc.		6,800		26,567

				223,100

Building Products - 1.2%
Cie de Saint-Gobain		3,026		205,117
Daikin Industries Ltd.		200		40,386
Geberit AG (Registered)		221		125,790
Kingspan Group plc		1,479		119,039

				490,332

Capital Markets - 3.0%
Daiwa Securities Group, Inc.		11,900		64,500
Deutsche Bank AG (Registered)		3,077		34,197
Deutsche Boerse AG		425		81,674
EQT AB		5,015		119,988
Hong Kong Exchanges & Clearing Ltd.		2,500		104,440
London Stock Exchange Group plc		85		9,255
Macquarie Group Ltd.		1,343		158,381
Nomura Holdings, Inc.		35,700		147,368
Schroders plc		11,237		66,406
St James’s Place plc		7,327		88,616
UBS Group AG (Registered)		14,093		313,367

				1,188,192

Chemicals - 3.1%
Akzo Nobel NV		2,210		189,473
Arkema SA		374		40,394
Chr Hansen Holding A/S		969		73,399
Clariant AG (Registered)		1,190		19,535
Covestro AG*(a)		918		49,423
Croda International plc		1,819		137,851
Givaudan SA (Registered)		43		145,789
Johnson Matthey plc		187		4,333
Mitsui Chemicals, Inc.		1,700		48,818
Nissan Chemical Corp.		600		26,947
Nitto Denko Corp.		1,700		120,847
Novozymes A/S, Class B		748		37,625
Nutrien Ltd.		170		11,736
Sika AG (Registered)		816		254,821
Sumitomo Chemical Co. Ltd.		18,700		57,661
Umicore SA		1,173		34,815
Wacker Chemie AG		17		2,649

				1,256,116

Commercial Services & Supplies - 0.2%
Brambles Ltd.		2,975		28,206
Dai Nippon Printing Co. Ltd.		2,400		68,227

				96,433


Investments	Shares		Value ($)
Communications Equipment - 0.1%
Nokia OYJ		10,931		43,122

Construction & Engineering - 0.4%
Taisei Corp.		1,700		64,444
WSP Global, Inc.		782		107,920

				172,364

Consumer Staples Distribution & Retail - 2.1%
Aeon Co. Ltd.		3,400		73,657
Carrefour SA		3,451		69,211
Jeronimo Martins SGPS SA		1,020		27,845
Loblaw Cos. Ltd.		476		42,311
Metro, Inc., Class A		646		34,831
Tesco plc		88,519		293,844
Woolworths Group Ltd.		10,812		281,373

				823,072

Containers & Packaging - 0.5%
DS Smith plc		12,138		48,351
SIG Group AG		2,839		76,309
Smurfit Kappa Group plc		2,329		92,955

				217,615

Diversified Consumer Services - 0.1%
Pearson plc		2,924		32,528

Diversified REITs - 0.2%
British Land Co. plc (The), REIT		3,570		15,525
GPT Group (The), REIT		15,249		44,596
Land Securities Group plc, REIT		476		3,965

				64,086

Diversified Telecommunication Services - 2.2%
BCE, Inc.		1,955		84,495
Deutsche Telekom AG (Registered)		13,617		297,896
Nippon Telegraph & Telephone Corp.		85,000		97,456
Singapore Telecommunications Ltd.		20,400		40,868
Swisscom AG (Registered)		306		197,822
Telefonica Deutschland Holding AG		15,368		41,530
Telefonica SA		3,927		16,786
Telia Co. AB		12,512		26,947
TELUS Corp.		4,403		78,543

				882,343

Electric Utilities - 1.9%
Acciona SA		221		33,223
EDP - Energias de Portugal SA		28,373		132,951
Hydro One Ltd.(a)		561		15,855
Iberdrola SA		14,945		187,103
Orsted A/S(a)		1,938		169,507
Terna - Rete Elettrica Nazionale		18,071		153,177
Verbund AG		578		48,019

				739,835

Electrical Equipment - 2.4%
Mitsubishi Electric Corp.		6,800		98,162
Schneider Electric SE		2,924		522,394


Investments	Shares		Value ($)
Vestas Wind Systems A/S*		12,053		323,895

				944,451

Electronic Equipment, Instruments & Components - 0.5%
Murata Manufacturing Co. Ltd.		1,700		99,609
Omron Corp.		1,900		101,927

				201,536

Energy Equipment & Services - 0.0%(b)
Tenaris SA		408		6,806

Entertainment - 0.1%
Nintendo Co. Ltd.		800		36,318

Financial Services - 0.5%
M&G plc		26,517		68,441
Worldline SA*(a)		3,145		124,935

				193,376

Food Products - 2.3%
Ajinomoto Co., Inc.		800		31,177
Nestle SA (Registered)		6,834		842,612
Orkla ASA		7,038		55,711

				929,500

Gas Utilities - 0.6%
AltaGas Ltd.		2,176		43,032
APA Group		7,293		49,144
Enagas SA		2,074		36,896
Hong Kong & China Gas Co. Ltd.		119,000		101,777

				230,849

Ground Transportation - 2.0%
Canadian National Railway Co.		2,567		311,726
Canadian Pacific Kansas City Ltd.		2,159		177,969
Central Japan Railway Co.		400		51,056
East Japan Railway Co.		3,400		192,710
MTR Corp. Ltd.		10,500		48,267
West Japan Railway Co.		300		12,337

				794,065

Health Care Equipment & Supplies - 2.3%
BioMerieux		476		51,201
Coloplast A/S, Class B		306		38,136
Koninklijke Philips NV*		9,061		188,895
Olympus Corp.		6,800		110,868
Siemens Healthineers AG(a)		2,907		169,294
Sonova Holding AG (Registered)		646		180,718
Sysmex Corp.		1,700		115,164
Terumo Corp.		1,700		55,650

				909,926

Hotels, Restaurants & Leisure - 1.5%
Amadeus IT Group SA		3,621		260,380
Genting Singapore Ltd.		90,100		63,785
Oriental Land Co. Ltd.		1,700		65,210
Sands China Ltd.*		27,200		103,761
Whitbread plc		2,261		101,790

				594,926

Household Durables - 1.4%
Barratt Developments plc		4,896		28,769
Berkeley Group Holdings plc		476		26,617
Sekisui House Ltd.		5,100		104,060
Sony Group Corp.		4,100		384,231

				543,677


Investments	Shares		Value ($)
Household Products - 0.6%
Henkel AG & Co. KGaA (Preference)		2,227		172,318
Reckitt Benckiser Group plc		1,088		81,725

				254,043

Independent Power and Renewable Electricity Producers - 0.2%
EDP Renovaveis SA		4,247		81,336

Industrial Conglomerates - 2.1%
Hitachi Ltd.		7,100		464,638
Siemens AG (Registered)		2,091		357,296

				821,934

Industrial REITs - 0.3%
Nippon Prologis REIT, Inc., REIT		17		34,783
Segro plc, REIT		8,585		84,280

				119,063

Insurance - 6.2%
AIA Group Ltd.		27,200		269,953
Allianz SE (Registered)		1,615		387,106
ASR Nederland NV		544		24,765
Aviva plc		30,804		153,938
AXA SA		12,138		374,316
Dai-ichi Life Holdings, Inc.		100		2,045
Insurance Australia Group Ltd.		15,878		63,447
Japan Post Insurance Co. Ltd.		1,700		27,502
Legal & General Group plc		60,401		181,387
MS&AD Insurance Group Holdings, Inc.		4,100		152,711
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		289		109,165
NN Group NV		2,805		107,872
QBE Insurance Group Ltd.		7,004		74,429
Sun Life Financial, Inc.		3,366		177,474
Swiss Re AG		816		85,568
Zurich Insurance Group AG		595		288,834

				2,480,512

Interactive Media & Services - 0.2%
Z Holdings Corp.		23,800		66,301

IT Services - 1.7%
Capgemini SE		1,309		237,918
CGI, Inc.*		731		74,419
Fujitsu Ltd.		2,100		271,738
Nomura Research Institute Ltd.		3,400		96,462

				680,537

Leisure Products - 0.2%
Yamaha Corp.		1,700		65,808

Machinery - 2.1%
Alstom SA		4,233		129,839
Atlas Copco AB, Class A		6,171		87,918
Epiroc AB, Class A		5,440		108,774
GEA Group AG		1,564		66,544
Hitachi Construction Machinery Co. Ltd.		1,700		50,935
KION Group AG		289		12,147
Knorr-Bremse AG		391		27,564
Komatsu Ltd.		5,100		142,289


Investments	Shares		Value ($)
Kone OYJ, Class B		561		28,848
Kubota Corp.		1,700		25,659
SKF AB, Class B		3,213		61,340
Volvo AB, Class B		1,666		36,792
Yaskawa Electric Corp.		1,700		73,837

				852,486

Media - 0.9%
Dentsu Group, Inc.		2,000		66,892
Informa plc		4,420		43,119
Publicis Groupe SA		1,802		145,870
WPP plc		9,282		101,704

				357,585

Metals & Mining - 2.9%
Anglo American plc		153		4,713
Barrick Gold Corp.		1,785		30,892
BlueScope Steel Ltd.		3,538		52,068
Fortescue Metals Group Ltd.		5,355		78,232
Fresnillo plc		4,386		34,886
Kinross Gold Corp.		14,091		70,335
Mineral Resources Ltd.		1,547		74,462
Newcrest Mining Ltd.		9,367		166,699
Norsk Hydro ASA		5,525		36,263
Northern Star Resources Ltd.		6,052		46,939
Rio Tinto Ltd.		1,462		115,334
Rio Tinto plc		2,652		175,728
Sumitomo Metal Mining Co. Ltd.		200		6,917
Teck Resources Ltd., Class B		4,437		197,470
Wheaton Precious Metals Corp.		1,717		77,133

				1,168,071

Multi-Utilities - 0.2%
National Grid plc		5,236		69,491

Office REITs - 0.3%
Dexus, REIT		4,267		23,635
Gecina SA, REIT		340		36,868
Japan Real Estate Investment Corp., REIT		17		68,441

				128,944

Oil, Gas & Consumable Fuels - 5.5%
Ampol Ltd.		3,570		79,025
Cameco Corp.		4,233		149,092
Enbridge, Inc.		12,614		464,598
ENEOS Holdings, Inc.		11,900		43,168
Eni SpA		6,392		97,847
Neste OYJ		5,219		192,536
Pembina Pipeline Corp.		3,740		118,629
Repsol SA		9,469		145,116
Shell plc		19,261		586,346
TotalEnergies SE		4,573		278,619
Tourmaline Oil Corp.		765		39,719
Woodside Energy Group Ltd.		1		24

				2,194,719

Paper & Forest Products - 0.5%
Mondi plc		6,664		117,081
UPM-Kymmene OYJ		561		18,618
West Fraser Timber Co. Ltd.		884		74,615

				210,314

Personal Care Products - 2.2%
Kao Corp.		5,100		193,906
L’Oreal SA		986		460,067
Unilever plc		4,522		243,842

				897,815


Investments	Shares		Value ($)
Pharmaceuticals - 8.8%
AstraZeneca plc		4,250		611,680
Daiichi Sankyo Co. Ltd.		6,800		208,049
GSK plc		14,348		255,609
Merck KGaA		51		8,985
Novartis AG (Registered)		3,978		417,923
Novo Nordisk A/S, Class B		4,964		802,107
Ono Pharmaceutical Co. Ltd.		3,500		64,085
Roche Holding AG		1,819		567,828
Sanofi		3,298		353,040
Takeda Pharmaceutical Co. Ltd.		6,900		210,817
UCB SA		323		28,675

				3,528,798

Professional Services - 2.2%
Adecco Group AG (Registered)		731		29,861
Experian plc		1,751		67,790
Randstad NV		1,054		61,916
Recruit Holdings Co. Ltd.		3,700		128,463
RELX plc		13,481		454,448
Wolters Kluwer NV		1,037		130,570

				873,048

Real Estate Management & Development - 0.5%
City Developments Ltd.		3,400		18,923
Daiwa House Industry Co. Ltd.		6,800		184,837

				203,760

Retail REITs - 0.4%
CapitaLand Integrated Commercial Trust, REIT		66,300		101,862
Vicinity Ltd., REIT		28,832		38,371

				140,233

Semiconductors & Semiconductor Equipment - 2.4%
Advantest Corp.		1,100		151,165
ASML Holding NV		1,003		721,240
Renesas Electronics Corp.*		1,700		32,970
Tokyo Electron Ltd.		300		44,859

				950,234

Software - 2.3%
Open Text Corp.		3,264		140,454
SAP SE		4,726		648,205
Xero Ltd.*		1,768		145,597

				934,256

Specialty Retail - 1.6%
Fast Retailing Co. Ltd.		200		50,056
H & M Hennes & Mauritz AB, Class B		3,179		53,490
Industria de Diseno Textil SA		11,577		444,323
Zalando SE*(a)		3,128		108,292

				656,161

Technology Hardware, Storage & Peripherals - 0.9%
Canon, Inc.		10,300		266,272
Ricoh Co. Ltd.		5,100		45,354
Seiko Epson Corp.		3,400		55,817

				367,443

Textiles, Apparel & Luxury Goods - 2.7%
adidas AG		561		113,809


Investments	Shares		Value ($)
Burberry Group plc		3,349		95,789
Cie Financiere Richemont SA (Registered)		697		112,810
Kering SA		612		353,305
LVMH Moet Hennessy Louis Vuitton SE		425		397,406

				1,073,119

Trading Companies & Distributors - 1.2%
Bunzl plc		2,023		75,172
ITOCHU Corp.		8,500		343,996
Rexel SA		1,836		44,372

				463,540

Transportation Infrastructure - 1.0%
Getlink SE		6,001		105,829
Transurban Group		31,093		300,452

				406,281

Water Utilities - 0.1%
Severn Trent plc		1,717		56,422

Wireless Telecommunication Services - 0.7%
Rogers Communications, Inc., Class B		221		9,695
SoftBank Corp.		18,700		207,690
Vodafone Group plc		82,297		78,812

				296,197

TOTAL COMMON STOCKS (COST $36,693,097)				39,465,985

Total Investments - 98.7% (Cost $36,693,097)				39,465,985
Other assets less liabilities - 1.3%				517,284

Net Assets - 100.0%				39,983,269

*	Non-income producing security.

(a)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.

(b)	Represents less than 0.05% of net assets.

Percentages shown are based on Net Assets.


Abbreviations

CVA		Dutch Certification
OYJ		Public Limited Company
Preference		A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.
REIT		Real Estate Investment Trust
SCA		Limited partnership with share capital

FlexShares^® ESG & Climate Developed Markets ex-US Core Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® ESG & Climate Developed Markets ex-US Core Index Fund had the following outstanding contracts as of July 31, 2023:

FlexShares^® ESG & Climate Developed Markets ex-US Core Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 98.9%

Air Freight & Logistics - 0.2%
Hyundai Glovis Co. Ltd.		62		8,478
JD Logistics, Inc.*(a)		1,000		1,688

				10,166

Automobile Components - 0.8%
Hyundai Mobis Co. Ltd.		210		38,387

Automobiles - 2.4%
Eicher Motors Ltd.		150		6,138
Ford Otomotiv Sanayi A/S		128		4,514
Li Auto, Inc., ADR*		1,692		72,418
XPeng, Inc., Class A*		3,100		34,483

				117,553

Banks - 16.1%
Abu Dhabi Commercial Bank PJSC		3,816		9,122
Agricultural Bank of China Ltd., Class H		50,000		18,144
Akbank TAS		11,480		11,912
Alinma Bank		1,608		15,859
AU Small Finance Bank Ltd.(a)		570		5,058
Banco Bradesco SA		5,600		17,481
Banco Bradesco SA (Preference)		10,000		35,022
Banco do Brasil SA		3,000		30,391
Bancolombia SA		918		7,892
Bancolombia SA (Preference)		1,470		11,335
Bank AlBilad		538		6,274
Bank Rakyat Indonesia Persero Tbk. PT		89,400		33,495
Banque Saudi Fransi		180		2,044
China Construction Bank Corp., Class H		82,000		47,631
CIMB Group Holdings Bhd.		16,800		20,679
Commercial International Bank Egypt SAE		8,800		14,370
E.Sun Financial Holding Co. Ltd.		47,582		39,139
Eurobank Ergasias Services and Holdings SA*		8,970		15,700
First Abu Dhabi Bank PJSC		9,284		37,004
First Financial Holding Co. Ltd.		36,000		33,278
Grupo Financiero Banorte SAB de CV, Class O		1,200		11,403
Hana Financial Group, Inc.		1,024		31,572
Hong Leong Bank Bhd.		1,800		7,816
Industrial & Commercial Bank of China Ltd., Class H		70,000		34,108
ING Bank Slaski SA*		114		5,702
Itau Unibanco Holding SA (Preference)		1,600		9,633
KB Financial Group, Inc.		1,098		43,932
Mega Financial Holding Co. Ltd.		36,000		46,107
Nedbank Group Ltd.		1,702		22,491
OTP Bank Nyrt.		790		28,826


Investments	Shares		Value ($)
Powszechna Kasa Oszczednosci Bank Polski SA		1,338		13,619
Santander Bank Polska SA*		118		11,739
Shinhan Financial Group Co. Ltd.		1,430		39,322
SinoPac Financial Holdings Co. Ltd.		6,210		3,685
Standard Bank Group Ltd.		3,690		39,631
Taishin Financial Holding Co. Ltd.		12,504		7,261
Yapi ve Kredi Bankasi A/S		10,982		5,804
Yes Bank Ltd.*		39,544		8,149

				782,630

Beverages - 0.8%
Ambev SA		5,600		17,493
Arca Continental SAB de CV		200		2,009
Coca-Cola Femsa SAB de CV		1,800		15,234
Nongfu Spring Co. Ltd., Class H(a)		200		1,162
Varun Beverages Ltd.		228		2,230

				38,128

Biotechnology - 0.1%
BeiGene Ltd.*		400		6,668

Broadline Retail - 6.8%
Alibaba Group Holding Ltd., ADR*		2,162		220,870
JD.com, Inc., ADR		46		1,900
Naspers Ltd., Class N		96		18,970
PDD Holdings, Inc., ADR*		142		12,754
Prosus NV*		434		34,467
Vipshop Holdings Ltd., ADR*		1,376		25,910
Woolworths Holdings Ltd.		3,332		14,989

				329,860

Capital Markets - 0.5%
B3 SA - Brasil Bolsa Balcao		2,300		7,204
Jio Financial Services Ltd.*		978		3,114
Mirae Asset Securities Co. Ltd.		944		5,132
NH Investment & Securities Co. Ltd.		516		4,008
Saudi Tadawul Group Holding Co.		128		6,871

				26,329

Chemicals - 3.0%
Asian Paints Ltd.		1,112		45,662
Indorama Ventures PCL, NVDR		5,800		5,803
LG Chem Ltd.		40		20,335
Orbia Advance Corp. SAB de CV		3,450		7,847
PI Industries Ltd.		56		2,462
PTT Global Chemical PCL, NVDR		4,600		5,308
Sahara International Petrochemical Co.		400		4,030
SK IE Technology Co. Ltd.*(a)		88		7,408
Sociedad Quimica y Minera de Chile SA (Preference), Class B		304		22,276
UPL Ltd.*		1,686		12,806
Yanbu National Petrochemical Co.		888		10,841

				144,778


Investments	Shares		Value ($)
Commercial Services & Supplies - 0.1%
China Everbright Environment Group Ltd.		12,000		4,770

Communications Equipment - 0.2%
ZTE Corp., Class H		2,800		10,197

Construction & Engineering - 0.4%
Hyundai Engineering & Construction Co. Ltd.		276		8,098
Samsung Engineering Co. Ltd.*		422		12,250

				20,348

Construction Materials - 0.8%
Ambuja Cements Ltd.		1,776		9,997
Siam Cement PCL (The), NVDR		2,600		24,687
UltraTech Cement Ltd.		52		5,259

				39,943

Consumer Staples Distribution & Retail - 2.3%
Alibaba Health Information Technology Ltd.*		16,000		11,325
CP ALL PCL, NVDR		15,600		28,941
Nahdi Medical Co.		20		926
Raia Drogasil SA		208		1,267
Shoprite Holdings Ltd.		1,208		17,552
Wal-Mart de Mexico SAB de CV		12,100		50,501

				110,512

Containers & Packaging - 0.3%
Klabin SA		2,400		11,604
SCG Packaging PCL, NVDR		4,200		4,969

				16,573

Diversified Consumer Services - 0.1%
East Buy Holding Ltd.*(a)		500		2,423

Diversified REITs - 0.2%
Growthpoint Properties Ltd., REIT		10,054		7,163

Diversified Telecommunication Services - 2.0%
Chunghwa Telecom Co. Ltd.		11,000		40,602
Emirates Telecommunications Group Co. PJSC		518		3,159
Hellenic Telecommunications Organization SA		712		11,265
Indus Towers Ltd.*		2,388		4,994
LG Uplus Corp.		764		6,000
Saudi Telecom Co.		892		10,081
Telefonica Brasil SA		1,800		15,934
Tower Bersama Infrastructure Tbk. PT		19,000		2,432

				94,467

Electric Utilities - 1.1%
Centrais Eletricas Brasileiras SA		2,400		19,499
Centrais Eletricas Brasileiras SA (Preference), Class B		800		7,337
CEZ A/S		76		3,375
Cia Energetica de Minas Gerais		800		3,101
Cia Energetica de Minas Gerais (Preference)		5,000		13,317


Investments	Shares		Value ($)
Cia Paranaense de Energia (Preference)		4,400		7,733

				54,362

Electrical Equipment - 0.7%
ABB India Ltd.		108		5,978
CG Power & Industrial Solutions Ltd.		2,020		9,874
Doosan Enerbility Co. Ltd.*		120		1,647
Goldwind Science & Technology Co. Ltd.		2,800		1,917
Havells India Ltd.		884		14,338

				33,754

Electronic Equipment, Instruments & Components - 1.9%
AUO Corp.*		24,000		15,808
Delta Electronics Thailand PCL, NVDR		4,400		14,526
Delta Electronics, Inc.		2,000		23,261
Hon Hai Precision Industry Co. Ltd.		3,000		10,357
Samsung Electro-Mechanics Co. Ltd.		192		21,902
Samsung SDI Co. Ltd.		16		8,347

				94,201

Energy Equipment & Services - 0.1%
Dialog Group Bhd.		13,000		6,631

Entertainment - 2.1%
Kingsoft Corp. Ltd.		3,200		13,684
NCSoft Corp.		38		8,243
NetEase, Inc., ADR		756		82,208

				104,135

Financial Services - 1.4%
FirstRand Ltd.		7,192		29,437
Grupo de Inversiones Suramericana SA		780		7,433
Yuanta Financial Holding Co. Ltd.		37,000		28,727

				65,597

Food Products - 1.1%
Almarai Co. JSC		136		2,498
Britannia Industries Ltd.		174		10,142
Charoen Pokphand Foods PCL, NVDR		6,200		3,677
CJ CheilJedang Corp.		28		6,150
IOI Corp. Bhd.		8,600		7,953
Marico Ltd.		1,836		12,513
Nestle Malaysia Bhd.		300		8,909

				51,842

Gas Utilities - 0.7%
ENN Energy Holdings Ltd.		2,700		32,457
Korea Gas Corp.*		100		1,946

				34,403

Ground Transportation - 0.8%
BTS Group Holdings PCL, NVDR		30,700		7,265
Full Truck Alliance Co. Ltd., ADR*		1,042		7,804
Rumo SA		4,600		22,473

				37,542


Investments	Shares		Value ($)
Health Care Equipment & Supplies - 0.0%(b)
Microport Scientific Corp.*		600		1,199

Health Care Providers & Services - 0.4%
Dr Sulaiman Al Habib Medical Services Group Co.		64		4,930
Sinopharm Group Co. Ltd., Class H		4,800		15,049

				19,979

Hotels, Restaurants & Leisure - 3.1%
Meituan, Class B*(a)		4,600		86,294
Trip.com Group Ltd.*		500		19,965
Yum China Holdings, Inc.		728		44,422

				150,681

Household Durables - 0.8%
Arcelik A/S*		422		2,420
Coway Co. Ltd.		202		6,497
LG Electronics, Inc.		364		30,956

				39,873

Household Products - 0.3%
Blue Moon Group Holdings Ltd.(a)		3,000		1,554
Unilever Indonesia Tbk. PT		26,800		6,842
Vinda International Holdings Ltd.		2,000		4,032

				12,428

Independent Power and Renewable Electricity Producers - 0.8%
Adani Green Energy Ltd.*		1,098		14,595
China Longyuan Power Group Corp. Ltd., Class H		12,000		11,525
Energy Absolute PCL, NVDR		6,000		10,868

				36,988

Industrial Conglomerates - 2.4%
Alpha Dhabi Holding PJSC*		1,600		8,695
Astra International Tbk. PT		12,200		5,542
Far Eastern New Century Corp.		12,000		11,341
International Holding Co. PJSC*		406		43,672
Multiply Group PJSC*		10,216		8,984
Samsung C&T Corp.		222		17,991
Siemens Ltd.		250		12,107
Turkiye Sise ve Cam Fabrikalari A/S		4,658		9,237

				117,569

Insurance - 3.4%
Bupa Arabia for Cooperative Insurance Co.		100		4,601
Cathay Financial Holding Co. Ltd.		25,958		37,789
Fubon Financial Holding Co. Ltd.		22,000		45,853
ICICI Prudential Life Insurance Co. Ltd.(a)		500		3,523
Ping An Insurance Group Co. of China Ltd., Class H		9,000		64,915
Powszechny Zaklad Ubezpieczen SA		502		5,093
Samsung Life Insurance Co. Ltd.		42		2,300

				164,074

Interactive Media & Services - 3.7%
Autohome, Inc., ADR		288		9,207
Info Edge India Ltd.		248		13,831
Kakao Corp.		986		39,683


Investments	Shares		Value ($)
Kanzhun Ltd., ADR*		624		11,656
Kuaishou Technology*(a)		6,200		53,424
NAVER Corp.		300		53,427

				181,228

IT Services - 2.8%
Arabian Internet & Communications Services Co.		80		7,784
Elm Co.		14		2,538
HCL Technologies Ltd.		500		6,789
Infosys Ltd.		4,094		67,481
Tech Mahindra Ltd.		1,954		26,501
Wipro Ltd.		4,962		24,436

				135,529

Life Sciences Tools & Services - 1.3%
Divi’s Laboratories Ltd.		348		15,588
WuXi AppTec Co. Ltd., Class H(a)		1,200		11,317
Wuxi Biologics Cayman, Inc.*(a)		6,000		33,929

				60,834

Machinery - 0.5%
Cummins India Ltd.		432		10,338
Haitian International Holdings Ltd.		2,000		4,980
Weichai Power Co. Ltd., Class H		2,000		2,949
Zhuzhou CRRC Times Electric Co. Ltd., Class H		1,800		7,155

				25,422

Marine Transportation - 0.2%
MISC Bhd.		4,600		7,335

Media - 0.3%
Elang Mahkota Teknologi Tbk. PT		88,400		3,810
Grupo Televisa SAB, Series CPO		9,400		9,973

				13,783

Metals & Mining - 2.8%
Anglo American Platinum Ltd.		96		4,807
AngloGold Ashanti Ltd.		572		12,692
Gold Fields Ltd.		2,734		42,263
Grupo Mexico SAB de CV, Series B		4,000		20,845
Hindalco Industries Ltd.		4,734		26,626
JSW Steel Ltd.		1,418		14,081
Kumba Iron Ore Ltd.		214		5,880
Sibanye Stillwater Ltd.		5,220		9,927

				137,121

Oil, Gas & Consumable Fuels - 4.2%
Bharat Petroleum Corp. Ltd.		2,348		10,777
Cosan SA		3,200		13,413
COSCO SHIPPING Energy Transportation Co. Ltd., Class H		4,000		4,421
Empresas Copec SA		1,170		8,968
MOL Hungarian Oil & Gas plc		128		1,014
ORLEN SA*		1,936		34,648
Petroleo Brasileiro SA (Preference)		400		2,616
Petronas Dagangan Bhd.		1,000		5,092
PTT Exploration & Production PCL, NVDR		5,000		23,299
PTT PCL, NVDR		23,000		23,518
Reliance Industries Ltd.		978		30,313
SK Innovation Co. Ltd.*		188		31,858
Thai Oil PCL, NVDR		3,600		5,390
Ultrapar Participacoes SA		2,600		10,325

				205,652


Investments	Shares		Value ($)
Paper & Forest Products - 0.3%
Empresas CMPC SA		3,974		7,839
Suzano SA		800		8,084

				15,923

Passenger Airlines - 0.2%
Korean Air Lines Co. Ltd.		400		7,720

Personal Care Products - 1.4%
AMOREPACIFIC Group		52		1,118
Giant Biogene Holding Co. Ltd.*(a)		800		3,590
Godrej Consumer Products Ltd.*		588		7,406
Hindustan Unilever Ltd.		1,598		49,754
LG H&H Co. Ltd.		14		4,701

				66,569

Pharmaceuticals - 1.8%
Aspen Pharmacare Holdings Ltd.		656		7,075
China Medical System Holdings Ltd.		5,000		8,399
Cipla Ltd.		502		7,171
CSPC Pharmaceutical Group Ltd.		32,000		26,630
Dr Reddy’s Laboratories Ltd.		408		27,980
Richter Gedeon Nyrt.		288		7,285
Sun Pharmaceutical Industries Ltd.		230		3,197

				87,737

Real Estate Management & Development - 1.3%
DLF Ltd.		1,852		11,681
KE Holdings, Inc., ADR*		1,672		29,126
Longfor Group Holdings Ltd.(a)		4,000		10,643
NEPI Rockcastle NV		1,558		9,387

				60,837

Semiconductors & Semiconductor Equipment - 9.5%
Daqo New Energy Corp., ADR*		200		7,814
Flat Glass Group Co. Ltd., Class H		2,000		5,937
GCL Technology Holdings Ltd.		72,000		15,603
Hua Hong Semiconductor Ltd.*(a)		2,000		6,770
SK Hynix, Inc.		398		38,531
Taiwan Semiconductor Manufacturing Co. Ltd.		19,000		341,591
United Microelectronics Corp.		17,000		25,424
Xinyi Solar Holdings Ltd.		18,000		19,388

				461,058

Specialty Retail - 0.5%
Chow Tai Fook Jewellery Group Ltd.		6,800		11,806
Lojas Renner SA		3,400		13,401

				25,207

Technology Hardware, Storage & Peripherals - 4.9%
Asustek Computer, Inc.		2,000		23,165
Compal Electronics, Inc.		16,000		15,503
Lenovo Group Ltd.		26,000		29,805
Micro-Star International Co. Ltd.		1,000		6,189
Samsung Electronics Co. Ltd.		2,392		130,986
Wistron Corp.		7,000		31,518

				237,166


Investments	Shares		Value ($)
Textiles, Apparel & Luxury Goods - 1.2%
Feng TAY Enterprise Co. Ltd.*		2,000		13,492
Li Ning Co. Ltd.		3,500		21,093
LPP SA		4		13,819
Page Industries Ltd.		22		10,112

				58,516

Transportation Infrastructure - 1.4%
Abu Dhabi Ports Co. PJSC*		3,814		6,853
Adani Ports & Special Economic Zone Ltd.		1,866		17,647
CCR SA		4,000		11,175
Grupo Aeroportuario del Pacifico SAB de CV, Class B		230		4,394
International Container Terminal Services, Inc.		3,560		14,065
Jiangsu Expressway Co. Ltd., Class H		4,000		3,657
Salik Co. PJSC		6,460		5,523
Taiwan High Speed Rail Corp.		6,000		5,756

				69,070

Wireless Telecommunication Services - 2.4%
Advanced Info Service PCL, NVDR		1,600		10,564
Bharti Airtel Ltd.		4,942		53,471
Etihad Etisalat Co.		1,296		16,184
Mobile Telecommunications Co. KSCP		7,538		12,788
Taiwan Mobile Co. Ltd.		5,000		15,019
TIM SA		2,000		6,029
Vodacom Group Ltd.		244		1,619

				115,674


TOTAL COMMON STOCKS (COST $4,793,196)				4,798,534


Total Investments - 98.9% (Cost $4,793,196)				4,798,534
Other assets less liabilities - 1.1%				54,074

Net Assets - 100.0%				4,852,608

*	Non-income producing security.

(a)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.

(b)	Represents less than 0.05% of net assets.

Percentages shown are based on Net Assets.


Abbreviations

ADR		American Depositary Receipt
NVDR		Non-Voting Depositary Receipt
PJSC		Public Joint Stock Company

FlexShares^® ESG & Climate Emerging Markets Core Index Fund had the following open futures contract as of July 31, 2023:

FlexShares^® ESG & Climate Emerging Markets Core Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 99.2%

Building Products - 0.5%
Simpson Manufacturing Co., Inc.		125,230		19,786,340
UFP Industries, Inc.		175,322		18,016,089

				37,802,429

Chemicals - 17.1%
CF Industries Holdings, Inc.(a)		1,263,034		103,669,831
Corteva, Inc.		4,701,492		265,305,194
FMC Corp.		840,830		80,913,071
ICL Group Ltd.		8,361,786		55,689,702
K+S AG (Registered)		2,128,910		40,665,755
Mosaic Co. (The)		2,150,378		87,649,407
Nutrien Ltd.(a)		5,313,330		366,816,560
PhosAgro PJSC‡		308,581		—
PI Industries Ltd.		908,812		39,951,872
Qinghai Salt Lake Industry Co. Ltd., Class A*		4,651,400		13,016,826
SABIC Agri-Nutrients Co.		2,636,986		101,357,656
Scotts Miracle-Gro Co. (The)		286,240		20,048,250
UPL Ltd.*		6,086,178		46,226,057
Yara International ASA		1,824,780		74,748,068
Yunnan Yuntianhua Co. Ltd., Class A		1,431,200		3,696,778
Zangge Mining Co. Ltd., Class A		1,431,200		4,818,228

				1,304,573,255

Electric Utilities - 0.2%
Origin Energy Ltd.		2,479,554		14,152,078

Food Products - 12.9%
Archer-Daniels-Midland Co.		3,774,790		320,706,158
Bakkafrost P/F		586,792		34,309,046
Bunge Ltd.		1,055,510		114,702,272
Cal-Maine Foods, Inc.(a)		271,928		12,560,354
Charoen Pokphand Foods PCL, NVDR		39,358,000		23,341,998
Charoen Pokphand Indonesia Tbk. PT*		82,294,000		28,240,812
Kuala Lumpur Kepong Bhd.		6,082,600		31,458,468
Mowi ASA		5,284,706		93,115,094
Muyuan Foods Co. Ltd., Class A		5,009,208		31,155,322
New Hope Liuhe Co. Ltd., Class A*		3,935,800		6,889,405
PPB Group Bhd.		8,229,400		30,479,259
Salmar ASA		783,582		36,272,570
Tyson Foods, Inc., Class A		2,017,992		112,442,514
Wilmar International Ltd.		35,422,200		102,974,614

				978,647,886

Metals & Mining - 29.1%
Agnico Eagle Mines Ltd.(a)		1,521,260		79,897,211
Anglo American plc		3,699,652		113,958,164
AngloGold Ashanti Ltd.		1,248,722		27,707,638
Barrick Gold Corp.(a)		5,377,734		93,071,058
BHP Group Ltd.		12,268,962		380,384,918


Investments	Shares		Value ($)
Boliden AB		769,270		22,702,891
First Quantum Minerals Ltd.(a)		1,595,788		47,415,969
Fortescue Metals Group Ltd.		4,819,566		70,409,368
Franco-Nevada Corp.(a)		583,214		85,258,908
Freeport-McMoRan, Inc.		3,148,640		140,586,776
Glencore plc		34,803,206		212,053,535
Gold Fields Ltd.		2,583,316		39,934,176
Grupo Mexico SAB de CV, Series B		8,945,000		46,614,148
Hindalco Industries Ltd.		4,336,536		24,390,420
Impala Platinum Holdings Ltd.		2,465,242		17,882,405
Mineral Resources Ltd.(a)		522,388		25,144,157
MMC Norilsk Nickel PJSC*‡		46,158		—
MMC Norilsk Nickel PJSC, ADR*‡		1,231,473		—
Newcrest Mining Ltd.		2,583,316		45,973,669
Newmont Corp.(a)		1,846,248		79,240,964
Norsk Hydro ASA		4,057,452		26,631,227
Northern Star Resources Ltd.(a)		3,306,072		25,641,939
Rio Tinto plc		3,034,144		201,049,891
Royal Gold, Inc.(a)		161,010		19,343,741
Saudi Arabian Mining Co.*		3,567,266		42,218,416
South32 Ltd.		13,857,594		36,231,206
Sumitomo Metal Mining Co. Ltd.		771,500		26,683,214
Teck Resources Ltd., Class B(a)		1,255,878		55,893,131
Vale SA		10,614,079		154,311,959
Wheaton Precious Metals Corp.(a)		1,395,420		62,686,560
Zijin Mining Group Co. Ltd., Class A		4,651,400		8,467,445

				2,211,785,104

Oil, Gas & Consumable Fuels - 30.0%
APA Corp.(a)		275,506		11,155,238
BP plc		25,622,058		159,228,779
Cameco Corp.(a)		1,237,988		43,603,513
Canadian Natural Resources Ltd.(a)		1,556,430		94,822,505
Cenovus Energy, Inc.(a)		1,831,936		34,905,949
Chevron Corp.		1,556,430		254,725,334
China Petroleum & Chemical Corp., Class H		35,780,000		19,957,557
ConocoPhillips		1,076,978		126,781,850
Coterra Energy, Inc.		690,554		19,017,857
Devon Energy Corp.		561,746		30,334,284
Diamondback Energy, Inc.(a)		161,010		23,719,993
Eni SpA		3,495,706		53,511,583
EOG Resources, Inc.		504,498		66,861,120
EQT Corp.(a)		307,708		12,979,123
Equinor ASA		1,427,622		43,520,845
Exxon Mobil Corp.		3,284,604		352,240,933
Gazprom PJSC‡		15,937,700		—
Hess Corp.		239,726		36,373,626
Inpex Corp.		1,431,200		18,459,136
LUKOIL PJSC‡		214,305		—
LUKOIL PJSC, ADR*‡		269,035		—
Marathon Oil Corp.		543,856		14,287,097
Novatek PJSC‡		1,237,715		—
Occidental Petroleum Corp.(a)		651,196		41,110,004


Investments	Shares		Value ($)
Petroleo Brasileiro SA (Preference)		5,724,800		37,438,860
Pioneer Natural Resources Co.		211,102		47,639,388
Repsol SA		1,842,670		28,239,738
Rosneft Oil Co. PJSC‡		2,926,433		—
Santos Ltd.		4,701,492		25,218,079
Saudi Arabian Oil Co.(b)		3,477,816		30,035,515
Shell plc		10,072,070		306,615,355
Suncor Energy, Inc.(a)		1,828,358		57,312,859
Tatneft PJSC‡		2,021,036		—
TotalEnergies SE		3,323,962		202,518,745
Tourmaline Oil Corp.(a)		429,360		22,292,469
Woodside Energy Group Ltd.(a)		2,708,547		69,337,607

				2,284,244,941

Paper & Forest Products - 3.1%
Canfor Corp.*(a)		250,460		3,959,789
Dexco SA*		1,431,200		2,518,188
Dongwha Enterprise Co. Ltd.*		35,780		1,142,467
Interfor Corp.*(a)		218,258		3,913,306
Mondi plc		2,264,874		39,792,037
Stella-Jones, Inc.		228,992		11,649,234
Stora Enso OYJ, Class R		2,776,528		34,148,366
Svenska Cellulosa AB SCA, Class B(a)		2,758,638		36,703,078
UPM-Kymmene OYJ		2,418,728		80,269,734
West Fraser Timber Co. Ltd.		254,038		21,442,448

				235,538,647

Semiconductors & Semiconductor Equipment - 0.3%
Tongwei Co. Ltd., Class A		4,293,606		20,907,054

Specialized REITs - 1.4%
PotlatchDeltic Corp., REIT		261,194		14,007,834
Rayonier, Inc., REIT(a)		472,296		15,642,444
Weyerhaeuser Co., REIT		2,361,480		80,432,009

				110,082,287

Water Utilities - 4.6%
American States Water Co.(a)		135,964		12,020,577
American Water Works Co., Inc.		722,756		106,555,917
Beijing Enterprises Water Group Ltd.		28,624,000		6,973,675
California Water Service Group(a)		203,946		10,813,217
China Water Affairs Group Ltd.		7,156,000		6,065,262
Cia de Saneamento Basico do Estado de Sao Paulo SABESP		2,013,499		24,591,773
Cia de Saneamento de Minas Gerais Copasa MG		1,073,400		4,567,035
Cia de Saneamento do Parana		1,431,200		6,305,999
Essential Utilities, Inc.		887,344		37,525,778
Grandblue Environment Co. Ltd., Class A		357,800		942,218
Guangdong Investment Ltd.		16,195,941		13,997,287
Pennon Group plc		1,570,742		14,207,596
Severn Trent plc(a)		1,556,430		51,145,910
SJW Group(a)		100,184		7,058,965
United Utilities Group plc		4,000,204		51,417,156

				354,188,365

TOTAL COMMON STOCKS (COST $6,559,898,510)				7,551,922,046


Investments	Principal Amount ($)		Value ($)
TIME DEPOSITS - 0.0%(e)
Australia & New Zealand Banking Group Ltd/New York 5.34%, 8/7/2023 (Cost $1,500,000)		1,500,000		1,500,000

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $195,035,044)				195,039,786

Total Investments - 101.8% (Cost $6,754,933,554)				7,746,961,832
Liabilities in excess of other assets - (1.8%)				(134,066,315	)

Net Assets - 100.0%				7,612,895,517

*	Non-income producing security.

‡	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(a)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $291,069,457, collateralized in the form of cash with a value of $195,046,070 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $104,299,981 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 7.63%, and maturity dates ranging from August 10, 2023 – February 15, 2053 and $259,845 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.80% – 4.25%, and maturity dates ranging from June 22, 2027 – September 20, 2117; a total value of $299,605,896.

(b)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.

(c)	The security was purchased with cash collateral held from securities on loan at July 31, 2023. The total value of securities purchased was $195,039,786.

(d)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of July 31, 2023.

(e)	Represents less than 0.05% of net assets.

Percentages shown are based on Net Assets.


Abbreviations

ADR		American Depositary Receipt
NVDR		Non-Voting Depositary Receipt
OYJ		Public Limited Company
PJSC		Public Joint Stock Company
Preference		A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.
REIT		Real Estate Investment Trust
SCA		Limited partnership with share capital
SOFR		Secured Overnight Financing Rate

FlexShares^® Morningstar Global Upstream Natural Resources Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® Morningstar Global Upstream Natural Resources Index Fund had the following outstanding contracts as of July 31, 2023:

FlexShares^® Morningstar Global Upstream Natural Resources Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 99.0%

Air Freight & Logistics - 3.0%
bpost SA(a)		154,800		747,897
CTT-Correios de Portugal SA		121,260		479,966
DHL Group		1,213,460		62,506,703
International Distributions Services plc*(a)		849,680		2,916,766
Oesterreichische Post AG(a)		38,700		1,414,467
PostNL NV(a)		287,242		585,418

				68,651,217

Commercial Services & Supplies - 4.6%
Ambipar Participacoes e Empreendimentos SA		86,000		380,370
Befesa SA(a)(b)		39,560		1,519,612
Better World Green PCL, NVDR*		3,823,600		72,610
Casella Waste Systems, Inc., Class A*		20,640		1,665,442
China Everbright Environment Group Ltd.(a)		4,300,000		1,709,259
Clean Harbors, Inc.*(a)		19,780		3,288,623
Cleanaway Co. Ltd.		112,000		686,045
Cleanaway Waste Management Ltd.(a)		2,873,260		5,343,764
CoreCivic, Inc.*		50,740		492,178
Daiseki Co. Ltd.(a)		63,460		2,137,219
GEO Group, Inc. (The)*(a)		48,160		359,755
Insun ENT Co. Ltd.*		32,680		216,901
Midac Holdings Co. Ltd.(a)		21,400		243,702
Renewi plc*		104,060		696,222
Republic Services, Inc., Class A		83,420		12,605,596
Shanghai Youngsun Investment Co. Ltd., Class B*‡		57,800		—
Stericycle, Inc.*		38,700		1,644,363
Sunny Friend Environmental Technology Co. Ltd.		120,315		516,842
TRE Holdings Corp.		86,000		746,326
Waste Connections, Inc.(a)		318,200		45,020,616
Waste Management, Inc.(a)		149,640		24,509,535

				103,854,980

Diversified Telecommunication Services - 14.0%
AT&T, Inc.		2,856,060		41,469,991
BCE, Inc.(a)		743,900		32,191,866
BT Group plc(a)		5,729,320		8,993,388
Cellnex Telecom SA(b)		396,460		16,234,525
China Tower Corp. Ltd., Class H(b)		36,120,000		4,075,756
Deutsche Telekom AG (Registered)		2,817,360		61,634,813
Frontier Communications Parent, Inc.*(a)		103,200		1,879,272
HKT Trust & HKT Ltd.		3,022,000		3,561,129
Infrastrutture Wireless Italiane SpA(b)		287,240		3,615,090
Iridium Communications, Inc.		44,720		2,350,036
KINX, Inc.		1,738		90,265
Koninklijke KPN NV		2,738,240		9,938,701


Investments	Shares		Value ($)
Liberty Global plc, Class C*(a)		97,180		1,920,277
Nippon Telegraph & Telephone Corp.		45,150,000		51,766,153
Sarana Menara Nusantara Tbk. PT		17,200,000		1,157,692
Spark New Zealand Ltd.		1,523,060		4,910,000
Swisscom AG (Registered)		20,640		13,343,319
Telecom Italia SpA*(a)		8,479,600		2,452,291
Verizon Communications, Inc.		1,682,160		57,328,013

				318,912,577

Electric Utilities - 13.9%
American Electric Power Co., Inc.		208,120		17,636,089
Constellation Energy Corp.(a)		131,580		12,717,207
Duke Energy Corp.		311,320		29,145,778
Edison International		155,660		11,201,294
Enel SpA		5,964,960		41,248,853
Eversource Energy		137,600		9,952,608
Exelon Corp.		396,460		16,595,816
Iberdrola SA(a)		4,555,421		57,031,390
NextEra Energy, Inc.		813,560		59,633,948
PG&E Corp.*		940,840		16,568,192
Southern Co. (The)		440,320		31,852,749
Xcel Energy, Inc.		219,300		13,756,689

				317,340,613

Energy Equipment & Services - 0.1%
Secure Energy Services, Inc.		235,640		1,233,473

Financial Services - 0.0%(c)
Metro Pacific Investments Corp.		12,900,000		1,143,796

Gas Utilities - 1.1%
AltaGas Ltd.(a)		228,760		4,523,930
APA Group		820,440		5,528,535
Enagas SA(a)		176,300		3,136,314
Keppel Infrastructure Trust		4,927,010		1,892,435
Petronas Gas Bhd.		344,000		1,303,065
Snam SpA		1,600,460		8,438,256

				24,822,535

Ground Transportation - 18.2%
Aurizon Holdings Ltd.(a)		2,184,400		5,608,160
Canadian National Railway Co.(a)		755,940		91,798,252
Canadian Pacific Kansas City Ltd.(a)		1,150,680		94,837,190
Central Japan Railway Co.		258,000		32,930,954
CSX Corp.		821,300		27,365,716
East Japan Railway Co.		463,600		26,276,540
GMexico Transportes SAB de CV(b)		946,000		2,259,865
Keio Corp.(a)		151,100		5,023,905
Keisei Electric Railway Co. Ltd.		215,900		8,965,442
MTR Corp. Ltd.		1,916,000		8,807,699
Norfolk Southern Corp.		91,160		21,294,064
Odakyu Electric Railway Co. Ltd.(a)		430,000		6,285,966
Rumo SA		1,634,000		7,982,712
Tobu Railway Co. Ltd.(a)		258,000		6,829,518
Union Pacific Corp.		244,240		56,668,565
West Japan Railway Co.		305,400		12,559,489

				415,494,037


Investments	Shares		Value ($)
Health Care Providers & Services - 3.8%
Acadia Healthcare Co., Inc.*(a)		35,260		2,786,598
Apollo Hospitals Enterprise Ltd.		142,760		8,979,610
Bangkok Dusit Medical Services PCL, NVDR		15,050,000		12,641,055
Bumrungrad Hospital PCL, NVDR		860,000		5,427,017
Encompass Health Corp.		39,560		2,612,147
HCA Healthcare, Inc.		84,280		22,992,427
IHH Healthcare Bhd.		3,268,000		4,312,397
Life Healthcare Group Holdings Ltd.		1,360,520		1,593,569
Ramsay Health Care Ltd.(a)		227,040		9,012,694
Rede D’Or Sao Luiz SA(b)		1,032,000		7,809,882
Select Medical Holdings Corp.		45,580		1,367,856
Tenet Healthcare Corp.*		42,140		3,149,122
Universal Health Services, Inc., Class B		23,220		3,226,651

				85,911,025

Independent Power and Renewable Electricity Producers - 1.0%
RWE AG		527,180		22,744,012

IT Services - 0.2%
Fastly, Inc., Class A*(a)		45,580		837,305
NEXTDC Ltd.*		420,540		3,613,106

				4,450,411

Media - 4.4%
Charter Communications, Inc., Class A*		41,280		16,726,243
Comcast Corp., Class A		1,664,960		75,356,090
Liberty Broadband Corp., Class C*(a)		48,160		4,292,501
Quebecor, Inc., Class B(a)		130,720		3,205,805
Sirius XM Holdings, Inc.(a)		340,560		1,736,856

				101,317,495

Multi-Utilities - 7.1%
Consolidated Edison, Inc.		140,180		13,297,475
Dominion Energy, Inc.		331,100		17,730,405
Engie SA		1,437,060		23,627,028
National Grid plc		2,841,440		37,711,009
Public Service Enterprise Group, Inc.(a)		202,960		12,810,835
Sempra		125,560		18,710,951
Veolia Environnement SA		833,340		27,196,451
WEC Energy Group, Inc.		126,420		11,360,101

				162,444,255

Oil, Gas & Consumable Fuels - 7.2%
Antero Midstream Corp.(a)		144,480		1,725,091
DT Midstream, Inc.(a)		42,140		2,255,333
Enbridge, Inc.		1,562,620		57,554,277
Equitrans Midstream Corp.		165,980		1,721,213
Keyera Corp.(a)		172,000		4,313,557
Kinder Morgan, Inc.		786,040		13,920,768
Koninklijke Vopak NV		44,720		1,689,718
New Fortress Energy, Inc.(a)		44,720		1,276,756
ONEOK, Inc.		182,320		12,222,733
Pembina Pipeline Corp.		422,260		13,393,622
Plains GP Holdings LP, Class A(a)		86,000		1,349,340


Investments	Shares		Value ($)
Targa Resources Corp.		89,440		7,333,186
TC Energy Corp.(a)		784,320		28,161,036
Transneft PJSC (Preference)‡		1,473		—
Williams Cos., Inc. (The)(a)		488,480		16,828,136

				163,744,766

Specialized REITs - 4.9%
American Tower Corp., REIT		187,480		35,679,319
Crown Castle, Inc., REIT		174,580		18,905,268
Digital Realty Trust, Inc., REIT(a)		117,820		14,682,728
Equinix, Inc., REIT		37,840		30,647,373
Keppel DC REIT, REIT		1,032,000		1,702,124
SBA Communications Corp., Class A, REIT		43,000		9,414,850

				111,031,662

Specialty Retail - 0.0%
GNC Holdings, Inc.*‡		36,294		—

Transportation Infrastructure - 6.9%
Adani Ports & Special Economic Zone Ltd.		993,300		9,393,923
Aena SME SA(b)		90,300		14,476,063
Aeroports de Paris		29,240		4,049,163
Airports of Thailand PCL, NVDR*		5,246,000		10,958,303
Atlas Arteria Ltd.(a)		1,743,220		7,376,920
Auckland International Airport Ltd.*		1,507,580		7,881,236
Bangkok Expressway & Metro PCL, NVDR		10,320,000		2,743,658
CCR SA		1,376,000		3,844,198
China Merchants Port Holdings Co. Ltd.		1,815,564		2,490,997
COSCO SHIPPING Ports Ltd.		1,720,000		1,085,104
Flughafen Zurich AG (Registered)		24,080		5,119,622
Gemadept Corp.		344,000		852,466
Getlink SE		408,500		7,204,015
Grupo Aeroportuario del Pacifico SAB de CV, Class B		503,100		9,610,181
Grupo Aeroportuario del Sureste SAB de CV, Class B		232,200		6,584,596
International Container Terminal Services, Inc.		2,175,800		8,596,242
Japan Airport Terminal Co. Ltd.(a)		120,100		5,599,257
Jiangsu Expressway Co. Ltd., Class H		1,720,000		1,572,518
Promotora y Operadora de Infraestructura SAB de CV		249,400		2,590,087
Qube Holdings Ltd.		2,269,540		4,496,229
Santos Brasil Participacoes SA		602,000		1,216,136
Shenzhen International Holdings Ltd.		1,720,679		1,610,647
Transurban Group		3,798,620		36,706,099
Westshore Terminals Investment Corp.(a)		46,440		1,077,514

				157,135,174

Water Utilities - 2.5%
Aguas Andinas SA, Class A		3,467,520		1,214,348
American States Water Co.(a)		14,620		1,292,554
American Water Works Co., Inc.		79,120		11,664,662


Investments	Shares		Value ($)
Beijing Enterprises Water Group Ltd.		5,160,000		1,257,133
California Water Service Group(a)		20,640		1,094,333
Cia de Saneamento Basico do Estado de Sao Paulo SABESP		430,000		5,251,784
Cia de Saneamento de Minas Gerais Copasa MG		258,000		1,097,723
Cia de Saneamento do Parana (Preference)		1,032,000		913,322
Essential Utilities, Inc.(a)		92,880		3,927,895
Guangdong Investment Ltd.		3,440,000		2,973,008
Middlesex Water Co.(a)		7,740		622,451
Pennon Group plc		301,000		2,722,590
Severn Trent plc		316,480		10,399,862
SJW Group(a)		10,320		727,147
United Utilities Group plc		842,800		10,833,042

				55,991,854

Wireless Telecommunication Services - 6.1%
KDDI Corp.		1,204,000		35,481,053
SoftBank Corp.		2,322,000		25,789,105
SoftBank Group Corp.		860,000		43,835,304
T-Mobile US, Inc.*		242,520		33,411,980

				138,517,442

TOTAL COMMON STOCKS (COST $2,157,038,404)				2,254,741,324


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 2.2%(d)

INVESTMENT COMPANIES - 0.2%
Invesco Government & Agency Portfolio, Institutional Shares 5.33%, 8/1/2023 (Cost $5,000,000)		5,000,000		5,000,000

REPURCHASE AGREEMENTS - 2.0%
BofA Securities, Inc., 5.77%, dated 7/31/2023, due 10/31/2023, repurchase price $2,029,491, collateralized by various Common Stocks; total market value $2,215,407		2,000,000		2,000,000
Citigroup Global Markets, Inc., 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $29,643,066, collateralized by various U.S. Treasury Securities, ranging from 0.50% - 2.63%, maturing 8/31/2026 - 2/15/2029; total market value $30,004,271		29,638,719		29,638,719


Investments	Principal Amount ($)		Value ($)
TD Prime Services LLC, 5.40%, dated 7/31/2023, due 8/1/2023, repurchase price $14,002,100, collateralized by various Common Stocks; total market value $15,458,604		14,000,000		14,000,000

TOTAL REPURCHASE AGREEMENTS (Cost $45,638,719)				45,638,719

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $50,638,719)				50,638,719

Total Investments - 101.2% (Cost $2,207,677,123)				2,305,380,043
Liabilities in excess of other assets - (1.2%)				(26,989,788	)

Net Assets - 100.0%				2,278,390,255

*	Non-income producing security.

‡	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(a)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $138,165,584, collateralized in the form of cash with a value of $50,638,719 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $73,759,378 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 7.63%, and maturity dates ranging from July 31, 2023 – February 15, 2053 and $21,242,403 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 6.00%, and maturity dates ranging from September 7, 2023 – September 20, 2117; a total value of $145,640,500.

(b)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.

(c)	Represents less than 0.05% of net assets.

(d)	The security was purchased with cash collateral held from securities on loan at July 31, 2023. The total value of securities purchased was $50,638,719.

Percentages shown are based on Net Assets.


Abbreviations

NVDR		Non-Voting Depositary Receipt
PJSC		Public Joint Stock Company
Preference		A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.
REIT		Real Estate Investment Trust

FlexShares^® STOXX^® Global Broad Infrastructure Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® STOXX^® Global Broad Infrastructure Index Fund had the following outstanding contracts as of July 31, 2023:

FlexShares^® STOXX^® Global Broad Infrastructure Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 98.5%

Diversified REITs - 8.2%
Abacus Property Group, REIT		389,259		697,724
Argosy Property Ltd., REIT(a)		112,320		85,281
British Land Co. plc (The), REIT		415,818		1,808,341
Charter Hall Group, REIT		50,778		391,097
Charter Hall Long Wale REIT, REIT(a)		316,485		876,513
Empire State Realty Trust, Inc., Class A, REIT(a)		106,587		953,954
Essential Properties Realty Trust, Inc., REIT		69,732		1,711,921
GPT Group (The), REIT		908,037		2,655,562
Growthpoint Properties Australia Ltd., REIT		309,231		598,037
H&R REIT, REIT(a)		102,492		801,248
Land Securities Group plc, REIT		345,033		2,874,046
Merlin Properties Socimi SA, REIT		154,440		1,442,253
Mori Trust Reit, Inc., REIT(a)		1,521		784,694
NIPPON REIT Investment Corp., REIT(a)		22		52,414
Stockland, REIT		1,162,044		3,304,443
Tokyu REIT, Inc., REIT(a)		585		774,483
WP Carey, Inc., REIT		93,717		6,328,709

				26,140,720

Health Care REITs - 2.3%
Healthpeak Properties, Inc., REIT		255,996		5,588,393
LTC Properties, Inc., REIT		22,113		742,112
National Health Investors, Inc., REIT		21,177		1,162,829

				7,493,334

Hotel & Resort REITs - 4.4%
Apple Hospitality REIT, Inc., REIT		106,587		1,652,099
CDL Hospitality Trusts, REIT		854,100		765,461
Covivio Hotels SACA, REIT(a)		7,137		140,066
DiamondRock Hospitality Co., REIT		109,278		928,863
Far East Hospitality Trust, REIT		210,600		102,302
Host Hotels & Resorts, Inc., REIT		347,022		6,385,205
Park Hotels & Resorts, Inc., REIT(a)		110,448		1,505,406
RLJ Lodging Trust, REIT		79,911		823,083
Service Properties Trust, REIT		103,194		876,117
Sunstone Hotel Investors, Inc., REIT		104,013		1,059,893

				14,238,495

Household Durables - 0.4%
Iida Group Holdings Co. Ltd.(a)		70,200		1,232,502

Industrial REITs - 8.8%
Centuria Industrial REIT, REIT(a)		387,036		829,357
Dream Industrial REIT, REIT(a)		76,050		819,867


Investments	Shares		Value ($)
First Industrial Realty Trust, Inc., REIT		64,233		3,320,846
Frasers Logistics & Commercial Trust, REIT(b)		1,450,800		1,333,014
Goodman Property Trust, REIT(a)		596,700		839,265
Granite REIT, REIT(a)		15,093		887,979
LondonMetric Property plc, REIT(a)		440,271		1,046,845
LXP Industrial Trust, REIT		129,636		1,305,434
Mapletree Logistics Trust, REIT		1,638,000		2,084,817
Prologis, Inc., REIT		99,567		12,420,983
STAG Industrial, Inc., REIT(a)		87,282		3,168,337

				28,056,744

Office REITs - 2.8%
Corporate Office Properties Trust, REIT		52,767		1,371,942
Covivio SA, REIT		22,507		1,090,375
Dexus, REIT(a)		425,529		2,357,025
Equity Commonwealth, REIT		51,831		1,015,369
Gecina SA, REIT		22,113		2,397,841
Inmobiliaria Colonial Socimi SA, REIT		137,943		892,763
SL Green Realty Corp., REIT		1		37

				9,125,352

Real Estate Management & Development - 15.1%
Aeon Mall Co. Ltd.		63,300		782,562
Atrium Ljungberg AB, Class B(a)		44,226		868,736
Bukit Sembawang Estates Ltd.		23,400		72,255
Capitaland India Trust		1,006,200		863,886
City Developments Ltd.		198,900		1,106,997
CTP NV(b)		67,509		928,912
Daito Trust Construction Co. Ltd.		29,900		3,217,701
Fabege AB(a)		123,435		1,071,356
Grand City Properties SA*(a)		52,767		436,337
Heiwa Real Estate Co. Ltd.		27,500		768,405
Howard Hughes Corp. (The)*		17,667		1,491,625
Hufvudstaden AB, Class A		65,637		805,197
Hulic Co. Ltd.		187,200		1,593,598
Intershop Holding AG		1,053		731,275
Isras Investment Co. Ltd.(a)		3,861		794,932
Kerry Properties Ltd.		351,000		756,126
LEG Immobilien SE*		35,100		2,490,700
Mitsubishi Estate Co. Ltd.		107,200		1,310,574
Mitsui Fudosan Co. Ltd.		152,100		3,124,323
Nexity SA(a)		28,431		483,051
Nomura Real Estate Holdings, Inc.		57,200		1,418,325
Platzer Fastigheter Holding AB, Class B		6,435		48,994
PSP Swiss Property AG (Registered)		22,113		2,622,387
Relo Group, Inc.		58,500		807,834
Shurgard Self Storage Ltd., REIT		16,146		740,376
Sumitomo Realty & Development Co. Ltd.		65,200		1,746,560
Sun Hung Kai Properties Ltd.		702,000		8,780,964


Investments	Shares		Value ($)
Swire Properties Ltd.		561,600		1,404,234
TAG Immobilien AG*		86,346		973,428
Tokyo Tatemono Co. Ltd.		88,300		1,179,260
Tokyu Fudosan Holdings Corp.		292,500		1,738,160
Tricon Residential, Inc.		106,353		995,456
UOL Group Ltd.		222,300		1,176,961
Wihlborgs Fastigheter AB		129,168		1,011,709

				48,343,196

Residential REITs - 11.9%
American Homes 4 Rent, Class A, REIT		10,881		407,820
Apartment Investment and Management Co., Class A, REIT		94,419		786,510
AvalonBay Communities, Inc., REIT		66,807		12,603,140
Boardwalk REIT, REIT(a)		17,199		855,997
Canadian Apartment Properties REIT, REIT(a)		40,716		1,590,283
Centerspace, REIT(a)		12,987		806,882
Equity Residential, REIT		171,405		11,302,446
InterRent REIT, REIT		73,476		715,083
Killam Apartment REIT, REIT(a)		53,586		736,871
Mid-America Apartment Communities, Inc., REIT		55,107		8,247,314

				38,052,346

Retail REITs - 21.6%
Brixmor Property Group, Inc., REIT		146,133		3,323,065
BWP Trust, REIT(a)		308,295		762,423
Carmila SA, REIT*		52,182		848,040
Charter Hall Retail REIT, REIT		332,748		840,833
Choice Properties REIT, REIT(a)		85,995		908,787
Crombie REIT, REIT(a)		63,765		674,831
CT REIT, REIT(a)		58,266		674,181
Eurocommercial Properties NV, REIT		34,047		863,386
Federal Realty Investment Trust, REIT		13,338		1,354,074
First Capital REIT, REIT		44,343		496,237
Fortune REIT, REIT		172,000		124,170
Fukuoka REIT Corp., REIT(a)		585		685,547
Getty Realty Corp., REIT(a)		24,687		797,884
HomeCo Daily Needs REIT, REIT(a)(b)		923,832		743,916
InvenTrust Properties Corp., REIT(a)		34,866		848,639
Kimco Realty Corp., REIT		294,606		5,968,718
Kite Realty Group Trust, REIT(a)		107,055		2,449,418
Klepierre SA, REIT		104,949		2,794,433
Mapletree Pan Asia Commercial Trust, REIT		1,146,600		1,424,831
NNN REIT, Inc., REIT		86,931		3,710,215
PARAGON REIT, REIT		1,076,400		774,184
Phillips Edison & Co., Inc., REIT(a)		54,756		1,933,434
Realty Income Corp., REIT		36,738		2,239,916
Regency Centers Corp., REIT(a)		74,763		4,899,219
Region RE Ltd., REIT		529,893		864,106


Investments	Shares		Value ($)
Retail Estates NV, REIT		10,530		674,532
RioCan REIT, REIT(a)		73,476		1,119,236
RPT Realty, REIT		68,328		742,725
Simon Property Group, Inc., REIT		131,040		16,327,584
SITE Centers Corp., REIT(a)		89,505		1,257,545
SmartCentres REIT, REIT(a)		44,343		839,190
Spirit Realty Capital, Inc., REIT		68,094		2,746,231
Tanger Factory Outlet Centers, Inc., REIT(a)		51,597		1,207,886
Vicinity Ltd., REIT		1,832,220		2,438,417
Waypoint REIT Ltd., REIT		438,516		774,194

				69,132,027

Specialized REITs - 23.0%
American Tower Corp., REIT		43,875		8,349,851
Big Yellow Group plc, REIT		82,953		1,145,229
Crown Castle, Inc., REIT(a)		16,848		1,824,470
CubeSmart, REIT(a)		109,044		4,728,148
EPR Properties, REIT(a)		36,738		1,639,984
Equinix, Inc., REIT(a)		6,552		5,306,596
Gaming and Leisure Properties, Inc., REIT		122,733		5,824,908
Iron Mountain, Inc., REIT		139,347		8,555,906
Lamar Advertising Co., Class A, REIT		40,248		3,972,478
National Storage REIT, REIT		522,873		817,424
PotlatchDeltic Corp., REIT		38,142		2,045,555
Public Storage, REIT		57,096		16,086,798
Safestore Holdings plc, REIT		107,172		1,221,731
Weyerhaeuser Co., REIT		351,234		11,963,030

				73,482,108

TOTAL COMMON STOCKS (COST $326,364,411)				315,296,824


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 2.0%(c)

REPURCHASE AGREEMENTS - 2.0%
Citigroup Global Markets, Inc., 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $6,502,362, collateralized by various U.S. Treasury Securities, ranging from 0.50% - 2.63%, maturing 8/31/2026 - 2/15/2029; total market value $6,581,594 (Cost $6,501,408)		6,501,408		6,501,408

Total Investments - 100.5% (Cost $332,865,819)				321,798,232
Liabilities in excess of other assets - (0.5%)				(1,745,151	)

Net Assets - 100.0%				320,053,081

*	Non-income producing security.

FlexShares^® Global Quality Real Estate Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® Global Quality Real Estate Index Fund had the following outstanding contracts as of July 31, 2023:

FlexShares^® Global Quality Real Estate Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:

The underlying index of the FlexShares^® Real Assets Allocation Index Fund is comprised of securities of affiliated FlexShares^® Funds. The Schedules of Investments of the affiliated FlexShares^® Funds are located elsewhere in this Report.

Investment in a company which was affiliated for the period ended July 31, 2023, was as follows:


Investments	Shares		Value ($)
COMMON STOCKS - 99.4%

Aerospace & Defense - 0.6%
Lockheed Martin Corp.(a)		22,739		10,150,007

Air Freight & Logistics - 1.6%
United Parcel Service, Inc., Class B		137,669		25,762,000

Banks - 1.8%
Bank of America Corp.		16,096		515,072
Commerce Bancshares, Inc.(a)		151,530		8,058,366
Cullen/Frost Bankers, Inc.(a)		52,870		5,740,625
JPMorgan Chase & Co.		55,116		8,706,123
Prosperity Bancshares, Inc.(a)		102,470		6,488,400

				29,508,586

Beverages - 0.6%
Coca-Cola Co. (The)		122,970		7,615,532
PepsiCo, Inc.		12,122		2,272,390

				9,887,922

Biotechnology - 4.6%
AbbVie, Inc.		233,467		34,921,994
Amgen, Inc.		100,235		23,470,025
Gilead Sciences, Inc.		233,290		17,762,701

				76,154,720

Broadline Retail - 0.5%
Dillard’s, Inc., Class A(a)		7,640		2,620,826
eBay, Inc.		112,379		5,001,989

				7,622,815

Building Products - 0.6%
Advanced Drainage Systems, Inc.(a)		83,940		10,239,841

Capital Markets - 3.8%
Ameriprise Financial, Inc.		26,386		9,194,202
Bank of New York Mellon Corp. (The)		176,281		7,996,106
BlackRock, Inc.		28,526		21,076,435
Janus Henderson Group plc(a)		267,675		7,856,261
Jefferies Financial Group, Inc.(a)		200,503		7,376,505
State Street Corp.		123,345		8,935,112

				62,434,621

Chemicals - 1.9%
CF Industries Holdings, Inc.		17,450		1,432,296
Dow, Inc.		155,340		8,772,050
Huntsman Corp.(a)		71,950		2,141,952
LyondellBasell Industries NV, Class A		87,078		8,608,531
Mosaic Co. (The)		79,712		3,249,061
Olin Corp.(a)		125,128		7,217,383

				31,421,273

Commercial Services & Supplies - 0.7%
Cintas Corp.		8,918		4,477,193


Investments	Shares		Value ($)
Rollins, Inc.		186,410		7,611,120

				12,088,313

Communications Equipment - 2.4%
Cisco Systems, Inc.		775,379		40,350,723

Construction Materials - 0.1%
Eagle Materials, Inc.		5,460		1,006,660

Consumer Finance - 0.8%
Ally Financial, Inc.		199,093		6,080,300
OneMain Holdings, Inc.		145,728		6,627,710

				12,708,010

Consumer Staples Distribution & Retail - 0.1%
Costco Wholesale Corp.		2,202		1,234,595
Walmart, Inc.		5,516		881,788

				2,116,383

Distributors - 0.5%
Pool Corp.(a)		22,900		8,810,546

Diversified Telecommunication Services - 0.4%
Iridium Communications, Inc.		113,590		5,969,155

Electric Utilities - 1.5%
Constellation Energy Corp.(a)		104,650		10,114,422
Evergy, Inc.		129,730		7,779,908
OGE Energy Corp.		206,030		7,447,985

				25,342,315

Entertainment - 1.0%
Electronic Arts, Inc.		70,475		9,609,266
Warner Music Group Corp., Class A		229,723		7,247,761

				16,857,027

Financial Services - 2.2%
Fidelity National Information Services, Inc.		154,800		9,346,824
Mastercard, Inc., Class A		13,619		5,369,699
Radian Group, Inc.(a)		302,830		8,155,212
Visa, Inc., Class A(a)		29,859		7,098,380
Western Union Co. (The)		525,430		6,399,738

				36,369,853

Gas Utilities - 0.3%
UGI Corp.		203,850		5,501,912

Ground Transportation - 2.2%
Old Dominion Freight Line, Inc.		27,524		11,546,043
Union Pacific Corp.		105,850		24,559,317

				36,105,360

Health Care Equipment & Supplies - 2.0%
Abbott Laboratories		224,637		25,008,837
GE HealthCare Technologies, Inc.		106,830		8,332,740

				33,341,577

Health Care Providers & Services - 1.9%
Cardinal Health, Inc.		89,390		8,176,503
Cigna Group (The)		5,460		1,611,246
McKesson Corp.		27,260		10,969,424
UnitedHealth Group, Inc.		19,829		10,040,811

				30,797,984


Investments	Shares		Value ($)
Hotel & Resort REITs - 0.9%
Apple Hospitality REIT, Inc., REIT(a)		439,310		6,809,305
Host Hotels & Resorts, Inc., REIT(a)		469,158		8,632,507

				15,441,812

Hotels, Restaurants & Leisure - 2.4%
Boyd Gaming Corp.		116,728		7,974,857
Domino’s Pizza, Inc.		4,370		1,733,754
International Game Technology plc		286,425		9,689,758
Marriott International, Inc., Class A		2,719		548,721
McDonald’s Corp.		2,202		645,626
Starbucks Corp.		147,313		14,962,582
Wyndham Hotels & Resorts, Inc.		46,671		3,636,604

				39,191,902

Household Products - 3.3%
Colgate-Palmolive Co.		31,620		2,411,341
Procter & Gamble Co. (The)		328,120		51,285,156

				53,696,497

Industrial Conglomerates - 1.0%
3M Co.		104,650		11,668,475
Honeywell International, Inc.		28,570		5,546,294

				17,214,769

Insurance - 4.2%
Aflac, Inc.		136,512		9,875,278
Allstate Corp. (The)		64,320		7,247,578
First American Financial Corp.(a)		16,625		1,053,693
Globe Life, Inc.		73,040		8,192,897
Lincoln National Corp.(a)		220,651		6,187,054
MetLife, Inc.		132,285		8,329,986
Principal Financial Group, Inc.		92,770		7,409,540
Prudential Financial, Inc.		86,120		8,309,719
Travelers Cos., Inc. (The)		7,640		1,318,740
Unum Group		77,807		3,782,198
Willis Towers Watson plc		37,070		7,834,003

				69,540,686

IT Services - 2.6%
Accenture plc, Class A		109,131		34,523,592
Cognizant Technology Solutions Corp., Class A		133,639		8,824,183

				43,347,775

Machinery - 1.6%
Caterpillar, Inc.		11,934		3,164,539
Illinois Tool Works, Inc.		56,195		14,797,267
Snap-on, Inc.		30,530		8,317,593

				26,279,399

Marine Transportation - 0.3%
ZIM Integrated Shipping Services Ltd.(a)		371,763		5,628,492

Media - 3.8%
Comcast Corp., Class A		835,967		37,835,866
New York Times Co. (The), Class A(a)		162,188		6,610,783


Investments	Shares		Value ($)
Nexstar Media Group, Inc., Class A(a)		47,354		8,841,939
Omnicom Group, Inc.		2,190		185,318
Sirius XM Holdings, Inc.(a)		408,812		2,084,941
TEGNA, Inc.		466,251		7,879,642

				63,438,489

Metals & Mining - 1.6%
Nucor Corp.		60,599		10,428,482
Reliance Steel & Aluminum Co.		14,180		4,152,755
Southern Copper Corp.(a)		107,942		9,438,448
Steel Dynamics, Inc.		27,029		2,880,751

				26,900,436

Multi-Utilities - 0.5%
Public Service Enterprise Group, Inc.		138,450		8,738,964

Oil, Gas & Consumable Fuels - 3.3%
APA Corp.		133,298		5,397,236
Chevron Corp.		35,254		5,769,670
ConocoPhillips		7,277		856,648
CVR Energy, Inc.(a)		224,747		8,257,205
Exxon Mobil Corp.		97,075		10,410,323
Marathon Petroleum Corp.		76,255		10,143,440
Occidental Petroleum Corp.(a)		30,145		1,903,054
Pioneer Natural Resources Co.		11,186		2,524,345
Range Resources Corp.(a)		253,615		7,971,119
Valero Energy Corp.		5,207		671,234

				53,904,274

Paper & Forest Products - 0.5%
Louisiana-Pacific Corp.(a)		115,704		8,808,546

Pharmaceuticals - 3.0%
Bristol-Myers Squibb Co.		20,720		1,288,577
Eli Lilly & Co.		13,212		6,005,515
Johnson & Johnson		51,769		8,672,860
Merck & Co., Inc.		29,738		3,171,558
Pfizer, Inc.		389,908		14,060,082
Zoetis, Inc., Class A		87,210		16,403,329

				49,601,921

Professional Services - 3.3%
Automatic Data Processing, Inc.		77,400		19,137,924
Exponent, Inc.		87,210		7,812,272
Paychex, Inc.		80,350		10,081,514
Paycom Software, Inc.		29,440		10,856,294
Robert Half, Inc.(a)		93,651		6,944,222

				54,832,226

Residential REITs - 1.6%
AvalonBay Communities, Inc., REIT		46,880		8,843,912
Camden Property Trust, REIT		65,410		7,135,577
Equity Residential, REIT		126,493		8,340,948
Mid-America Apartment Communities, Inc., REIT		14,180		2,122,179

				26,442,616


Investments	Shares		Value ($)
Retail REITs - 0.5%
Brixmor Property Group, Inc., REIT(a)		331,951		7,548,566

Semiconductors & Semiconductor Equipment - 8.9%
Broadcom, Inc.		71,587		64,331,657
KLA Corp.		27,536		14,152,127
Microchip Technology, Inc.		110,221		10,354,161
NVIDIA Corp.		68,295		31,913,571
Power Integrations, Inc.(a)		92,704		9,005,267
Skyworks Solutions, Inc.(a)		81,496		9,320,697
Teradyne, Inc.(a)		78,204		8,832,360

				147,909,840

Software - 6.3%
Bentley Systems, Inc., Class B(a)		170,555		9,189,503
Dolby Laboratories, Inc., Class A		23,120		2,048,663
Microsoft Corp.		276,494		92,879,865

				104,118,031

Specialized REITs - 1.5%
CubeSmart, REIT		152,620		6,617,603
Public Storage, REIT		31,620		8,908,935
Weyerhaeuser Co., REIT		284,135		9,677,638

				25,204,176

Specialty Retail - 4.5%
Bath & Body Works, Inc.		185,474		6,873,666
Best Buy Co., Inc.		93,618		7,774,975
Home Depot, Inc. (The)		86,087		28,739,284
Lowe’s Cos., Inc.		93,882		21,993,736
Williams-Sonoma, Inc.(a)		68,273		9,465,369

				74,847,030

Technology Hardware, Storage & Peripherals - 9.7%
Apple, Inc.		816,149		160,332,471

Textiles, Apparel & Luxury Goods - 0.5%
Tapestry, Inc.		181,742		7,842,167

Tobacco - 0.9%
Altria Group, Inc.		339,207		15,406,782

Trading Companies & Distributors - 0.6%
Fastenal Co.		156,430		9,168,362

TOTAL COMMON STOCKS (COST $1,332,734,614)				1,645,933,832


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 6.6%(b)

CERTIFICATES OF DEPOSIT - 1.4%
Bank of America NA (US Federal Funds Effective Rate (continuous series) + 0.40%), 5.73%, 10/19/2023(c) 2,000,000				2,000,062

FlexShares^® Quality Dividend Index Fund had the following open futures contracts as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 99.2%

Aerospace & Defense - 1.2%
Lockheed Martin Corp.		9,360		4,178,023

Air Freight & Logistics - 2.6%
CH Robinson Worldwide, Inc.		16,800		1,683,024
Expeditors International of Washington, Inc.		15,360		1,955,328
United Parcel Service, Inc., Class B		29,040		5,434,255

				9,072,607

Banks - 4.3%
Bank of America Corp.		1,680		53,760
Commerce Bancshares, Inc.(a)		32,880		1,748,558
CVB Financial Corp.(a)		135,120		2,549,715
Eastern Bankshares, Inc.		132,960		1,877,395
Glacier Bancorp, Inc.(a)		55,440		1,812,888
JPMorgan Chase & Co.		12,000		1,895,520
Popular, Inc.(a)		22,560		1,636,728
Prosperity Bancshares, Inc.		21,600		1,367,712
UMB Financial Corp.		27,360		1,942,560

				14,884,836

Beverages - 2.8%
Coca-Cola Co. (The)		148,800		9,215,184
PepsiCo, Inc.		2,640		494,894

				9,710,078

Biotechnology - 5.1%
AbbVie, Inc.		58,560		8,759,405
Amgen, Inc.		21,120		4,945,248
Gilead Sciences, Inc.		50,160		3,819,182

				17,523,835

Broadline Retail - 0.6%
Dillard’s, Inc., Class A(a)		2,400		823,296
eBay, Inc.(a)		24,720		1,100,287

				1,923,583

Building Products - 0.3%
Masco Corp.		19,440		1,179,619

Capital Markets - 1.4%
Bank of New York Mellon Corp. (The)		36,720		1,665,619
Janus Henderson Group plc		56,160		1,648,296
Virtu Financial, Inc., Class A		89,520		1,661,491

				4,975,406

Chemicals - 1.6%
Dow, Inc.		30,480		1,721,206
Huntsman Corp.		24,720		735,914
LyondellBasell Industries NV, Class A		16,320		1,613,395
Olin Corp.		25,920		1,495,066

				5,565,581


Investments	Shares		Value ($)
Commercial Services & Supplies - 0.5%
Rollins, Inc.		40,320		1,646,266

Communications Equipment - 2.5%
Cisco Systems, Inc.		165,840		8,630,314

Consumer Staples Distribution & Retail - 0.6%
Albertsons Cos., Inc., Class A		76,800		1,668,864
Costco Wholesale Corp.		480		269,122
Walmart, Inc.		1,440		230,198

				2,168,184

Diversified Consumer Services - 0.5%
H&R Block, Inc.(a)		54,480		1,831,073

Diversified Telecommunication Services - 0.3%
Iridium Communications, Inc.		20,400		1,072,020

Electric Utilities - 3.2%
Constellation Energy Corp.(a)		22,560		2,180,424
Entergy Corp.		15,840		1,626,768
Evergy, Inc.		28,080		1,683,957
Exelon Corp.		44,880		1,878,677
OGE Energy Corp.		45,600		1,648,440
Portland General Electric Co.		32,640		1,555,949
PPL Corp.		16,800		462,504

				11,036,719

Entertainment - 1.0%
Electronic Arts, Inc.		15,120		2,061,612
Warner Music Group Corp., Class A		47,520		1,499,256

				3,560,868

Financial Services - 2.3%
Fidelity National Information Services, Inc.		33,600		2,028,768
Mastercard, Inc., Class A		2,880		1,135,526
Radian Group, Inc.(a)		64,560		1,738,601
Visa, Inc., Class A(a)		6,240		1,483,435
Western Union Co. (The)		114,480		1,394,367

				7,780,697

Food Products - 0.5%
General Mills, Inc.		23,760		1,775,822

Gas Utilities - 0.4%
ONE Gas, Inc.(a)		18,960		1,500,305

Ground Transportation - 0.6%
Old Dominion Freight Line, Inc.		5,280		2,214,907

Health Care Equipment & Supplies - 2.2%
Abbott Laboratories		69,840		7,775,287

Health Care Providers & Services - 3.9%
AmerisourceBergen Corp.		10,320		1,928,808
Cardinal Health, Inc.		20,400		1,865,988


Investments	Shares		Value ($)
Chemed Corp.(a)		3,120		1,625,801
Cigna Group (The)		12,720		3,753,672
McKesson Corp.		5,760		2,317,824
UnitedHealth Group, Inc.		4,320		2,187,518

				13,679,611

Hotels, Restaurants & Leisure - 4.5%
Domino’s Pizza, Inc.		5,520		2,190,005
McDonald’s Corp.		29,520		8,655,264
Starbucks Corp.		45,840		4,655,969

				15,501,238

Household Products - 3.9%
Clorox Co. (The)		10,560		1,599,629
Kimberly-Clark Corp.		7,680		991,488
Procter & Gamble Co. (The)		70,560		11,028,528

				13,619,645

Industrial Conglomerates - 0.7%
3M Co.		22,560		2,515,440

Insurance - 4.4%
Aflac, Inc.		27,120		1,961,861
Allstate Corp. (The)		13,680		1,541,462
American Equity Investment Life Holding Co.		24,240		1,300,961
Assurant, Inc.		12,720		1,710,967
Globe Life, Inc.		15,360		1,722,931
Loews Corp.		28,800		1,804,320
MetLife, Inc.		27,600		1,737,972
Travelers Cos., Inc. (The)		10,320		1,781,335
Willis Towers Watson plc		7,920		1,673,734

				15,235,543

IT Services - 0.6%
Cognizant Technology Solutions Corp., Class A		29,040		1,917,511

Machinery - 1.5%
Illinois Tool Works, Inc.		12,000		3,159,840
Otis Worldwide Corp.		22,560		2,052,058

				5,211,898

Marine Transportation - 0.3%
ZIM Integrated Shipping Services Ltd.(a)		73,200		1,108,248

Media - 4.0%
Comcast Corp., Class A		156,960		7,104,009
Fox Corp., Class A		10,560		353,232
New York Times Co. (The), Class A(a)		45,120		1,839,091
Nexstar Media Group, Inc., Class A(a)		10,080		1,882,138
Omnicom Group, Inc.		5,040		426,485
Sirius XM Holdings, Inc.(a)		88,560		451,656
TEGNA, Inc.		100,560		1,699,464

				13,756,075

Metals & Mining - 0.8%
Reliance Steel & Aluminum Co.		3,120		913,723
Southern Copper Corp.		21,840		1,909,690

				2,823,413


Investments	Shares		Value ($)
Multi-Utilities - 0.9%
Dominion Energy, Inc.		14,160		758,268
Public Service Enterprise Group, Inc.		29,520		1,863,302
WEC Energy Group, Inc.		6,000		539,160

				3,160,730

Oil, Gas & Consumable Fuels - 1.4%
Chevron Corp.		7,440		1,217,631
CVR Energy, Inc.(a)		6,960		255,710
Exxon Mobil Corp.		23,280		2,496,547
Pioneer Natural Resources Co.		4,080		920,734

				4,890,622

Pharmaceuticals - 4.5%
Bristol-Myers Squibb Co.		85,200		5,298,588
Eli Lilly & Co.		10,080		4,581,864
Johnson & Johnson		17,040		2,854,711
Merck & Co., Inc.		6,240		665,496
Pfizer, Inc.		48,000		1,730,880
Zoetis, Inc., Class A		2,640		496,558

				15,628,097

Professional Services - 3.1%
Automatic Data Processing, Inc.		16,800		4,153,968
Booz Allen Hamilton Holding Corp., Class A(a)		9,840		1,191,427
Exponent, Inc.		18,720		1,676,938
Paychex, Inc.		14,160		1,776,655
Verisk Analytics, Inc., Class A		8,640		1,978,042

				10,777,030

Residential REITs - 2.1%
Camden Property Trust, REIT		13,920		1,518,533
Equity Residential, REIT		29,040		1,914,897
Essex Property Trust, Inc., REIT		8,160		1,987,368
Mid-America Apartment Communities, Inc., REIT		11,760		1,760,002

				7,180,800

Semiconductors & Semiconductor Equipment - 6.5%
Broadcom, Inc.		15,360		13,803,264
NVIDIA Corp.		14,640		6,841,126
Power Integrations, Inc.(a)		19,680		1,911,715

				22,556,105

Software - 6.4%
Bentley Systems, Inc., Class B(a)		36,240		1,952,611
Dolby Laboratories, Inc., Class A		10,080		893,189
Microsoft Corp.		58,080		19,510,234

				22,356,034

Specialized REITs - 1.0%
American Tower Corp., REIT		240		45,674
CubeSmart, REIT		36,960		1,602,586
Public Storage, REIT		6,720		1,893,360

				3,541,620

Specialty Retail - 4.9%
Best Buy Co., Inc.		19,440		1,614,492
Home Depot, Inc. (The)		33,120		11,056,781
Lowe’s Cos., Inc.		7,680		1,799,193
Murphy USA, Inc.		4,560		1,400,057
Williams-Sonoma, Inc.(a)		8,880		1,231,123

				17,101,646


Investments	Shares		Value ($)
Technology Hardware, Storage & Peripherals - 8.3%
Apple, Inc.		146,400		28,760,280

Tobacco - 1.0%
Altria Group, Inc.		72,240		3,281,141

TOTAL COMMON STOCKS (COST $293,290,766)				344,608,757


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 5.5%(b)

REPURCHASE AGREEMENTS - 5.5%
BofA Securities, Inc., 5.77%, dated 7/31/2023, due 10/31/2023, repurchase price $1,014,746, collateralized by various Common Stocks; total market value $1,107,704		1,000,000		1,000,000
Citigroup Global Markets, Inc., 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $12,093,925, collateralized by various U.S. Treasury Securities, ranging from 0.50% - 2.63%, maturing 8/31/2026 - 2/15/2029; total market value $12,241,291		12,092,151		12,092,151
Societe Generale, 5.34%, dated 7/31/2023, due 8/1/2023, repurchase price $2,000,297, collateralized by various U.S. Treasury Securities, ranging from 1.38% - 4.75%, maturing 2/15/2037 - 5/15/2051; total market value $2,032,245		2,000,000		2,000,000
TD Prime Services LLC, 5.40%, dated 7/31/2023, due 8/1/2023, repurchase price $4,000,600, collateralized by various Common Stocks; total market value $4,416,744		4,000,000		4,000,000

				19,092,151

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $19,092,151)				19,092,151

Total Investments - 104.7% (Cost $312,382,917)				363,700,908
Liabilities in excess of other assets - (4.7%)				(16,396,629	)

Net Assets - 100.0%				347,304,279

FlexShares^® Quality Dividend Defensive Index Fund had the following open futures contracts as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 96.8%

Automobile Components - 1.0%
Bridgestone Corp.		107,200		4,446,295
Fuyao Glass Industry Group Co. Ltd., Class H(a)		251,600		1,116,258

				5,562,553

Automobiles - 1.7%
Dr Ing hc F Porsche AG (Preference)		14,056		1,723,316
Mercedes-Benz Group AG		91,364		7,317,273
Toyota Motor Corp.		50,200		843,026

				9,883,615

Banks - 14.0%
Agricultural Bank of China Ltd., Class H		11,044,000		4,007,658
Banco del Bajio SA(a)		1,229,900		3,759,102
Bank of Communications Co. Ltd., Class H		3,514,000		2,117,763
Bank of Montreal		28,930		2,693,320
Barclays plc		1,323,774		2,639,331
BOC Hong Kong Holdings Ltd.		1,004,000		3,051,124
China Construction Bank Corp., Class H		5,020,000		2,915,947
China Merchants Bank Co. Ltd., Class H		125,500		618,754
Chongqing Rural Commercial Bank Co. Ltd., Class H		8,032,000		2,966,156
FinecoBank Banca Fineco SpA		233,681		3,636,659
First Abu Dhabi Bank PJSC		576,296		2,296,994
HSBC Holdings plc		108,181		899,592
Industrial & Commercial Bank of China Ltd., Class H		4,267,000		2,079,141
Japan Post Bank Co. Ltd.		175,700		1,462,930
KBC Group NV		71,535		5,394,771
Komercni Banka A/S		112,699		3,708,642
Mizuho Financial Group, Inc.		118,000		1,996,565
Powszechna Kasa Oszczednosci Bank Polski SA		521,076		5,303,898
Royal Bank of Canada		159,385		15,830,124
Sberbank of Russia PJSC‡		1,227,390		—
Skandinaviska Enskilda Banken AB, Class A		376,500		4,570,314
Sumitomo Mitsui Financial Group, Inc.		60,100		2,831,570
Swedbank AB, Class A		219,876		4,037,599
Toronto-Dominion Bank (The)		2,761		182,410
Yapi ve Kredi Bankasi A/S		2,988,406		1,579,285

				80,579,649

Beverages - 0.8%
Arca Continental SAB de CV		401,600		4,033,672
Nongfu Spring Co. Ltd., Class H(a)(b)		78,600		456,561

				4,490,233


Investments	Shares		Value ($)
Broadline Retail - 0.5%
momo.com, Inc.		93,920		1,790,148
Next plc		9,036		819,412

				2,609,560

Building Products - 1.1%
Geberit AG (Registered)		4,518		2,571,588
Lixil Corp.		286,200		3,661,096

				6,232,684

Capital Markets - 4.8%
3i Group plc		154,114		3,920,208
ASX Ltd.		37,148		1,554,749
China Galaxy Securities Co. Ltd., Class H		6,902,500		4,018,279
Hargreaves Lansdown plc		251,000		2,749,589
Japan Exchange Group, Inc.		110,900		1,932,242
Julius Baer Group Ltd.		44,427		3,157,066
Macquarie Korea Infrastructure Fund		42,168		401,285
Moscow Exchange MICEX-RTS PJSC‡		775,590		—
Partners Group Holding AG		5,020		5,663,679
Samsung Securities Co. Ltd.		142,568		4,015,370

				27,412,467

Chemicals - 2.8%
Fertiglobe plc		4,686,923		4,568,188
Nissan Chemical Corp.(b)		10,400		467,078
Nitto Denko Corp.		17,300		1,229,800
Sahara International Petrochemical Co.		138,301		1,393,480
Shin-Etsu Chemical Co. Ltd.		125,500		4,132,985
Yara International ASA(b)		108,683		4,451,958

				16,243,489

Consumer Staples Distribution & Retail - 0.5%
Cencosud SA		1,271,566		2,730,935
Kesko OYJ, Class B		10,291		206,447

				2,937,382

Diversified REITs - 0.5%
Stockland, REIT		1,032,363		2,935,676

Diversified Telecommunication Services - 2.0%
Elisa OYJ		8,534		446,371
Koninklijke KPN NV(b)		751,243		2,726,707
Spark New Zealand Ltd.		44,176		142,413
Swisscom AG (Registered)		4,016		2,596,258
Telenor ASA		367,464		3,941,071
Telstra Group Ltd.		563,244		1,616,849

				11,469,669

Electric Utilities - 1.1%
Fortum OYJ		240,960		3,270,403
Origin Energy Ltd.		580,312		3,312,137

				6,582,540

Electronic Equipment, Instruments & Components - 0.1%
Largan Precision Co. Ltd.		4,000		276,837
Shimadzu Corp.		13,200		400,515

				677,352


Investments	Shares		Value ($)
Entertainment - 1.1%
Capcom Co. Ltd.		10,400		468,469
Nintendo Co. Ltd.		126,500		5,742,715

				6,211,184

Financial Services - 2.3%
ORIX Corp.		194,000		3,728,984
Power Finance Corp. Ltd.		952,043		3,025,748
REC Ltd.		2,525,060		6,230,623

				12,985,355

Food Products - 3.3%
China Feihe Ltd.(a)		3,514,000		2,140,292
Nestle SA (Registered)		92,368		11,388,697
Uni-President China Holdings Ltd.		4,518,000		3,898,873
Want Want China Holdings Ltd.		2,008,000		1,398,110

				18,825,972

Gas Utilities - 1.5%
Enagas SA(b)		215,860		3,840,073
Kunlun Energy Co. Ltd.		702,000		571,595
Naturgy Energy Group SA(b)		132,528		4,053,334

				8,465,002

Ground Transportation - 0.7%
Aurizon Holdings Ltd.(b)		1,535,116		3,941,208
Canadian National Railway Co.		2,259		274,324

				4,215,532

Health Care Equipment & Supplies - 0.3%
Hoya Corp.		13,400		1,558,995

Hotels, Restaurants & Leisure - 1.1%
InterContinental Hotels Group plc		26,104		1,933,251
OPAP SA		246,437		4,350,063

				6,283,314

Household Durables - 1.0%
Nien Made Enterprise Co. Ltd.		336,000		3,474,775
Sekisui Chemical Co. Ltd.		137,000		2,081,806
Sony Group Corp.		1,100		103,086

				5,659,667

Household Products - 0.5%
Unilever Indonesia Tbk. PT		10,165,500		2,595,303

Independent Power and Renewable Electricity Producers - 0.0%
Unipro PJSC*‡		125,500,000		—

Industrial Conglomerates - 0.3%
Industries Qatar QSC		423,186		1,549,744
Siemens AG (Registered)		1,004		171,557

				1,721,301

Insurance - 1.7%
Admiral Group plc		59,989		1,643,265
BB Seguridade Participacoes SA		652,600		4,269,224
Caixa Seguridade Participacoes SA		75,300		170,797
Manulife Financial Corp.		164,656		3,297,498
Sampo OYJ, Class A		15,813		698,954

				10,079,738

Interactive Media & Services - 1.0%
Rightmove plc		269,574		1,978,418


Investments	Shares		Value ($)
Tencent Holdings Ltd.		87,600		3,980,848

				5,959,266

IT Services - 1.1%
HCL Technologies Ltd.		180,720		2,453,655
Infosys Ltd.		60,993		1,005,343
Nomura Research Institute Ltd.		75,300		2,136,362
Obic Co. Ltd.		5,200		851,661

				6,447,021

Leisure Products - 0.0%(c)
Shimano, Inc.		600		91,005

Machinery - 2.1%
Atlas Copco AB, Class B		35,140		434,589
Daifuku Co. Ltd.		92,100		1,967,367
FANUC Corp.		48,100		1,471,979
GEA Group AG		17,068		726,199
Kone OYJ, Class B		63,754		3,278,418
MISUMI Group, Inc.		68,300		1,247,215
VAT Group AG(a)(b)		3,514		1,500,296
Yaskawa Electric Corp.(b)		36,100		1,567,941

				12,194,004

Marine Transportation - 3.0%
AP Moller - Maersk A/S, Class A		1,506		3,036,820
AP Moller - Maersk A/S, Class B		1,506		3,104,776
Evergreen Marine Corp. Taiwan Ltd.		847,000		2,802,985
Hapag-Lloyd AG(a)		502		114,792
Nippon Yusen KK(b)		65,600		1,591,982
Orient Overseas International Ltd.(b)		214,500		3,572,845
SITC International Holdings Co. Ltd.		644,000		1,403,824
Yang Ming Marine Transport Corp.		1,004,000		1,485,561

				17,113,585

Metals & Mining - 6.6%
BHP Group Ltd.		587,089		18,202,013
Glencore plc		88,603		539,852
Grupo Mexico SAB de CV, Series B		602,400		3,139,224
Kumba Iron Ore Ltd.		134,034		3,682,520
MMC Norilsk Nickel PJSC*‡		16,315		—
Norsk Hydro ASA		35,642		233,937
Rio Tinto plc		127,508		8,448,996
Severstal PAO*‡		58,985		—
Vedanta Ltd.		1,205,804		4,046,285

				38,292,827

Office REITs - 0.5%
Dexus, REIT(b)		475,645		2,634,620

Oil, Gas & Consumable Fuels - 7.2%
Adaro Energy Indonesia Tbk. PT		18,624,200		2,976,414
Canadian Natural Resources Ltd.		124,998		7,615,263
China Shenhua Energy Co. Ltd., Class H		1,255,000		3,749,535
Coal India Ltd.		1,441,493		4,017,839
Equinor ASA(b)		113,703		3,466,219
Exxaro Resources Ltd.		461,338		4,203,050
Petroleo Brasileiro SA (Preference)		878,500		5,745,186


Investments	Shares		Value ($)
Shell plc		70,280		2,139,473
TotalEnergies SE		14,809		902,267
Var Energi ASA(b)		1,632,504		4,986,346
Yankuang Energy Group Co. Ltd., Class H(b)		1,203,000		1,804,801

				41,606,393

Personal Care Products - 2.4%
Hengan International Group Co. Ltd.		125,500		515,762
L’Oreal SA		27,610		12,882,803
Unilever plc		9,538		514,323

				13,912,888

Pharmaceuticals - 8.4%
Astellas Pharma, Inc.		25,100		367,543
AstraZeneca plc		17,821		2,564,882
China Medical System Holdings Ltd.		753,000		1,264,865
GSK plc		411,640		7,333,348
Livzon Pharmaceutical Group, Inc., Class H		75,300		256,835
Novartis AG (Registered)		112,950		11,866,363
Novo Nordisk A/S, Class B		80,571		13,019,047
Orion OYJ, Class B		4,016		154,709
Roche Holding AG		502		167,362
Roche Holding AG - BR		35,893		11,204,529
Sanofi		1,255		134,343

				48,333,826

Professional Services - 2.8%
Bureau Veritas SA		163,401		4,500,341
Randstad NV		82,830		4,865,754
Recruit Holdings Co. Ltd.		50,200		1,742,938
RELX plc		67,770		2,284,542
SGS SA (Registered)		29,346		2,858,599

				16,252,174

Real Estate Management & Development - 2.1%
China Vanke Co. Ltd., Class H		150,600		212,034
CK Asset Holdings Ltd.		125,500		724,159
Daito Trust Construction Co. Ltd.		35,700		3,841,871
Land & Houses PCL, NVDR		5,547,100		1,377,507
Longfor Group Holdings Ltd.(a)		753,000		2,003,507
Sun Hung Kai Properties Ltd.		319,500		3,996,464

				12,155,542

Semiconductors & Semiconductor Equipment - 5.5%
Advantest Corp.		23,000		3,160,719
ASML Holding NV		12,801		9,204,983
MediaTek, Inc.		217,000		4,764,450
Novatek Microelectronics Corp.		319,000		4,303,884
Parade Technologies Ltd.		32,000		936,789
Realtek Semiconductor Corp.		85,000		1,164,384
Taiwan Semiconductor Manufacturing Co. Ltd.		409,222		7,357,180
Vanguard International Semiconductor Corp.		312,000		767,429

				31,659,818

Software - 1.1%
Nemetschek SE		54,969		4,014,546
SAP SE		4,267		585,250


Investments	Shares		Value ($)
Temenos AG (Registered)		17,319		1,493,648

				6,093,444

Specialty Retail - 1.9%
H & M Hennes & Mauritz AB, Class B		124,245		2,090,556
Industria de Diseno Textil SA		142,317		5,462,093
Topsports International Holdings Ltd.(a)		1,004,000		920,487
ZOZO, Inc.		136,000		2,653,378

				11,126,514

Technology Hardware, Storage & Peripherals - 0.7%
Catcher Technology Co. Ltd.		214,000		1,181,455
Samsung Electronics Co. Ltd.		56,224		3,078,834

				4,260,289

Textiles, Apparel & Luxury Goods - 2.5%
ANTA Sports Products Ltd.		150,600		1,763,086
Bosideng International Holdings Ltd.		2,722,000		1,242,556
Hermes International		3,378		7,510,281
LVMH Moet Hennessy Louis Vuitton SE		3,514		3,285,845
Pandora A/S		5,522		554,218

				14,355,986

Tobacco - 1.6%
Imperial Brands plc		201,051		4,758,460
Japan Tobacco, Inc.		209,900		4,658,043

				9,416,503

Trading Companies & Distributors - 0.9%
Howden Joinery Group plc		290,156		2,751,436
ITOCHU Corp.(b)		62,600		2,533,432

				5,284,868

Wireless Telecommunication Services - 0.7%
Intouch Holdings PCL, NVDR		251,000		564,642
KDDI Corp.		25,100		739,680
Tele2 AB, Class B		350,396		2,641,767

				3,946,089

TOTAL COMMON STOCKS (COST $528,493,174)				557,354,894


Investments	Number of Rights		Value ($)
RIGHTS - 0.0%(c)

Capital Markets - 0.0%(c)
Macquarie Korea Infrastructure Fund, expiring 8/1/2023, price 12,550.00 KRW* (Cost $–)		3,222		151


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 1.1%(d)

REPURCHASE AGREEMENTS - 1.1%
Citigroup Global Markets, Inc., 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $5,609,098, collateralized by various U.S. Treasury Securities, ranging from 0.50% - 2.63%, maturing 8/31/2026 - 2/15/2029; total market value $5,677,446		5,608,276		5,608,276
Societe Generale, 5.34%, dated 7/31/2023, due 8/1/2023, repurchase price $1,000,148, collateralized by various U.S. Treasury Securities, ranging from 1.38% - 4.75%, maturing 2/15/2037 - 5/15/2051; total market value $1,016,122		1,000,000		1,000,000

				6,608,276

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $6,608,276)				6,608,276

Total Investments - 97.9% (Cost $535,101,450)				563,963,321
Other assets less liabilities - 2.1%				12,006,142

Net Assets - 100.0%				575,969,463

*	Non-income producing security.

‡	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(a)	Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale.

(b)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $22,961,005, collateralized in the form of cash with a value of $6,608,276 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $13,104,620 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 5.39%, and maturity dates ranging from July 31, 2023 – August 15, 2052 and $4,946,214 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 5.75%, and maturity dates ranging from December 13, 2023 – September 20, 2117; a total value of $24,659,110.

(c)	Represents less than 0.05% of net assets.

(d)	The security was purchased with cash collateral held from securities on loan at July 31, 2023. The total value of securities purchased was $6,608,276.

Percentages shown are based on Net Assets.

FlexShares^® International Quality Dividend Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® International Quality Dividend Index Fund had the following outstanding contracts as of July 31, 2023:

FlexShares^® International Quality Dividend Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 95.6%

Aerospace & Defense - 0.2%
Thales SA		476		71,348

Air Freight & Logistics - 0.4%
DHL Group		1,330		68,510
SG Holdings Co. Ltd.		2,800		40,882

				109,392

Automobile Components - 1.6%
Bridgestone Corp.		5,700		236,417
Tube Investments of India Ltd.		6,258		234,285

				470,702

Automobiles - 1.7%
Hero MotoCorp Ltd.		5,698		221,945
Toyota Motor Corp.		4,200		70,532
Yadea Group Holdings Ltd.(a)		92,000		208,332

				500,809

Banks - 11.4%
Akbank TAS		43,484		45,120
Banco de Chile		614,138		68,327
Bank of China Ltd., Class H		238,000		88,197
Bank of Communications Co. Ltd., Class H		84,000		50,624
Bankinter SA		9,380		60,790
Barclays plc		117,684		234,637
BOC Hong Kong Holdings Ltd.		21,000		63,818
China Everbright Bank Co. Ltd., Class H		154,000		45,813
Commonwealth Bank of Australia		4,732		337,073
Credit Agricole SA		5,138		63,934
Hang Seng Bank Ltd.		4,200		63,926
HSBC Holdings plc		4,270		35,508
Japan Post Bank Co. Ltd.		23,800		198,166
KBC Group NV		2,254		169,984
National Bank of Canada(b)		994		77,994
Nordea Bank Abp		8,862		100,432
Royal Bank of Canada		5,236		520,040
Sberbank of Russia PJSC‡		79,800		—
Sumitomo Mitsui Financial Group, Inc.		7,400		348,646
Swedbank AB, Class A		11,326		207,980
Toronto-Dominion Bank (The)		252		16,649
Turkiye Garanti Bankasi A/S		156,828		255,684
Turkiye Is Bankasi A/S, Class C		103,600		58,135
Yapi ve Kredi Bankasi A/S		432,544		228,587

				3,340,064

Broadline Retail - 0.5%
B&M European Value Retail SA		9,674		68,857
Dollarama, Inc.		1,288		84,996

				153,853


Investments	Shares		Value ($)
Building Products - 0.2%
Xinyi Glass Holdings Ltd.		42,000		69,365

Capital Markets - 3.3%
Deutsche Boerse AG		812		156,046
GF Securities Co. Ltd., Class H		134,400		214,386
Korea Investment Holdings Co. Ltd.		1,372		52,581
Macquarie Korea Infrastructure Fund		21,546		205,039
Moscow Exchange MICEX-RTS PJSC‡		227,100		—
NH Investment & Securities Co. Ltd.		6,888		53,498
Samsung Securities Co. Ltd.		5,278		148,653
Singapore Exchange Ltd.		19,600		143,332

				973,535

Chemicals - 2.3%
Croda International plc		840		63,658
Evonik Industries AG		1,876		38,907
Fertiglobe plc		233,226		227,318
Nutrien Ltd.		2,058		142,078
Yara International ASA		4,648		190,395

				662,356

Commercial Services & Supplies - 0.1%
Brambles Ltd.		3,164		29,998

Construction & Engineering - 0.5%
Taisei Corp.		2,000		75,817
WSP Global, Inc.		574		79,215

				155,032

Consumer Staples Distribution & Retail - 1.3%
BIM Birlesik Magazalar A/S		8,022		64,380
Kesko OYJ, Class B		7,728		155,031
Loblaw Cos. Ltd.		1,484		131,911
Metro, Inc., Class A		448		24,156

				375,478

Containers & Packaging - 0.2%
Smurfit Kappa Group plc		1,638		65,376

Diversified REITs - 0.1%
Growthpoint Properties Ltd., REIT		58,030		41,343

Diversified Telecommunication Services - 2.9%
BT Group plc(b)		38,892		61,049
Elisa OYJ		3,402		177,942
Koninklijke KPN NV		61,194		222,109
Nippon Telegraph & Telephone Corp.		90,000		103,188
Spark New Zealand Ltd.		2,100		6,770
Telefonica Deutschland Holding AG		20,678		55,879
Telenor ASA		18,774		201,352
Telia Co. AB(b)		12,320		26,534

				854,823


Investments	Shares		Value ($)
Electric Utilities - 3.0%
CPFL Energia SA		18,200		136,891
EDP - Energias de Portugal SA		13,692		64,158
Enel SpA		24,458		169,132
Fortum OYJ		4,648		63,084
Hydro One Ltd.(a)		2,576		72,803
Iberdrola SA(b)		4,054		50,754
Power Grid Corp. of India Ltd.		54,460		176,162
Redeia Corp. SA		3,598		60,318
SSE plc		3,346		72,563

				865,865

Electrical Equipment - 0.1%
Mitsubishi Electric Corp.		1,600		23,097

Electronic Equipment, Instruments & Components - 0.9%
Kingboard Laminates Holdings Ltd.		44,000		44,967
Largan Precision Co. Ltd.		3,000		207,627

				252,594

Entertainment - 0.1%
Capcom Co. Ltd.(b)		600		27,027

Financial Services - 0.5%
Power Finance Corp. Ltd.		49,826		158,355

Food Products - 3.7%
JBS SA		18,200		71,850
Nestle SA (Registered)		8,162		1,006,350

				1,078,200

Gas Utilities - 1.9%
Adani Total Gas Ltd.		6,944		56,034
Enagas SA		910		16,189
Naturgy Energy Group SA(b)		7,084		216,662
Petronas Gas Bhd.		51,800		196,218
Snam SpA		13,790		72,706

				557,809

Ground Transportation - 1.2%
Aurizon Holdings Ltd.		84,980		218,175
Canadian National Railway Co.		1,134		137,708

				355,883

Health Care Equipment & Supplies - 0.8%
Olympus Corp.		13,900		226,628

Hotels, Restaurants & Leisure - 0.9%
Genting Singapore Ltd.		74,200		52,529
OPAP SA		12,445		219,677

				272,206

Household Durables - 0.8%
Persimmon plc		3,402		50,731
Sekisui Chemical Co. Ltd.		8,400		127,644
Sekisui House Ltd.(b)		2,900		59,172

				237,547

Industrial Conglomerates - 1.1%
Alfa SAB de CV, Class A		32,200		19,799


Investments	Shares		Value ($)
Jardine Matheson Holdings Ltd.		1,000		49,380
Quinenco SA		13,594		47,283
Siemens AG (Registered)		28		4,784
Toshiba Corp.		6,400		206,712

				327,958

Insurance - 3.2%
AIA Group Ltd.		200		1,985
Allianz SE (Registered)		910		218,122
BB Seguridade Participacoes SA		30,800		201,489
Medibank Pvt Ltd.		25,032		59,206
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		420		158,648
Sampo OYJ, Class A		1,946		86,016
Zurich Insurance Group AG		420		203,883

				929,349

Interactive Media & Services - 0.7%
Tencent Holdings Ltd.		4,200		190,863

IT Services - 2.4%
Arabian Internet & Communications Services Co.		714		69,466
Chinasoft International Ltd.(b)		84,000		52,347
Elm Co.		448		81,227
HCL Technologies Ltd.		15,050		204,335
Itochu Techno-Solutions Corp.		2,500		63,380
Tata Consultancy Services Ltd.		5,544		230,624

				701,379

Leisure Products - 0.7%
Shimano, Inc.		1,400		212,345

Machinery - 1.3%
ANDRITZ AG		3,668		194,362
Kone OYJ, Class B		3,486		179,260

				373,622

Marine Transportation - 2.9%
AP Moller - Maersk A/S, Class A		42		84,692
COSCO SHIPPING Holdings Co. Ltd., Class H		168,000		177,291
Evergreen Marine Corp. Taiwan Ltd.		41,000		135,682
Orient Overseas International Ltd.		10,500		174,895
SITC International Holdings Co. Ltd.		98,000		213,625
Yang Ming Marine Transport Corp.		36,000		53,267

				839,452

Metals & Mining - 6.8%
BHP Group Ltd.		29,092		901,964
China Hongqiao Group Ltd.(b)		70,000		67,229
Fortescue Metals Group Ltd.		4,956		72,403
Jindal Steel & Power Ltd.		31,556		256,576
Kumba Iron Ore Ltd.		4,354		119,624
Magnitogorsk Iron & Steel Works PJSC*‡		172,884		—
Novolipetsk Steel PJSC*‡		47,108		—
Rio Tinto Ltd.		112		8,835


Investments	Shares		Value ($)
Rio Tinto plc		6,398		423,947
Severstal PAO*‡		6,900		—
Vedanta Ltd.		37,506		125,858

				1,976,436

Multi-Utilities - 0.2%
Canadian Utilities Ltd., Class A		518		12,924
Engie SA		2,100		34,527

				47,451

Oil, Gas & Consumable Fuels - 6.5%
Adaro Energy Indonesia Tbk. PT		1,194,200		190,850
Aker BP ASA		2,744		76,842
BP plc		33,040		205,328
Cenovus Energy, Inc.		5,208		99,234
China Petroleum & Chemical Corp., Class H		112,000		62,472
Equinor ASA		7,686		234,307
Exxaro Resources Ltd.		15,484		141,068
LUKOIL PJSC‡		240		—
Pembina Pipeline Corp.		1,946		61,725
Petroleo Brasileiro SA (Preference)		37,800		247,203
Shell plc		3,528		107,400
Surgutneftegas PJSC (Preference)‡		276,000		—
TotalEnergies SE		3,864		235,422
United Tractors Tbk. PT		61,400		112,071
Yankuang Energy Group Co. Ltd., Class H(b)		90,000		135,022

				1,908,944

Personal Care Products - 2.5%
Kobayashi Pharmaceutical Co. Ltd.		3,400		187,086
L’Oreal SA		1,078		502,994
Unilever plc		616		33,217

				723,297

Pharmaceuticals - 8.1%
AstraZeneca plc		868		124,927
China Medical System Holdings Ltd.		126,000		211,651
GSK plc		23,968		426,989
Novartis AG (Registered)		3,612		379,471
Novo Nordisk A/S, Class B		1,092		176,450
Orion OYJ, Class B		182		7,011
Roche Holding AG		28		9,335
Roche Holding AG - BR		3,164		987,689
Sanofi		532		56,949

				2,380,472

Professional Services - 1.0%
Bureau Veritas SA		7,322		201,660
Computershare Ltd.		2,422		40,932
RELX plc		378		12,743
Teleperformance		280		40,673

				296,008

Real Estate Management & Development - 2.0%
CapitaLand Investment Ltd.		22,400		57,358
China Overseas Land & Investment Ltd.		14,000		32,959
CK Asset Holdings Ltd.		37,000		213,497
Daito Trust Construction Co. Ltd.		1,800		193,708


Investments	Shares		Value ($)
Land & Houses PCL, NVDR		306,600		76,138

				573,660

Semiconductors & Semiconductor Equipment - 3.2%
ASML Holding NV		266		191,276
Novatek Microelectronics Corp.		8,000		107,934
Powerchip Semiconductor Manufacturing Corp.		28,000		26,684
SUMCO Corp.		4,200		61,191
Taiwan Semiconductor Manufacturing Co. Ltd.		21,000		377,548
Vanguard International Semiconductor Corp.		70,000		172,180

				936,813

Software - 0.1%
SAP SE		196		26,883

Specialty Retail - 2.3%
Abu Dhabi National Oil Co. for Distribution PJSC		51,534		54,718
Industria de Diseno Textil SA		7,322		281,017
Jarir Marketing Co.		47,152		194,812
Topsports International Holdings Ltd.(a)		14,000		12,835
ZOZO, Inc.		6,200		120,963

				664,345

Technology Hardware, Storage & Peripherals - 2.3%
Catcher Technology Co. Ltd.		25,000		138,020
Inventec Corp.		85,000		172,291
Lite-On Technology Corp.		28,000		134,091
Ricoh Co. Ltd.		8,000		71,143
Samsung Electronics Co. Ltd.		2,632		144,129

				659,674

Textiles, Apparel & Luxury Goods - 1.0%
F&F Co. Ltd.		378		30,693
Kering SA		98		56,575
LVMH Moet Hennessy Louis Vuitton SE		182		170,183
Pandora A/S		322		32,318

				289,769

Tobacco - 2.3%
British American Tobacco plc		6,062		204,000
Imperial Brands plc		10,080		238,573
Japan Tobacco, Inc.		10,400		230,794

				673,367

Trading Companies & Distributors - 2.0%
Ferguson plc		588		94,607
ITOCHU Corp.(b)		4,900		198,304
Mitsubishi Corp.		3,900		199,419
Sumitomo Corp.		4,200		90,072

				582,402

Wireless Telecommunication Services - 2.4%
Intouch Holdings PCL, NVDR		100,800		226,757
KDDI Corp.		5,600		165,028
SoftBank Corp.		7,100		78,855
Tele2 AB, Class B		21,280		160,438
Vodafone Group plc		85,302		81,690

				712,768

FlexShares^® International Quality Dividend Defensive Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® International Quality Dividend Defensive Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Shares		Value ($)
COMMON STOCKS - 97.8%

Air Freight & Logistics - 1.4%
DHL Group		7,420		382,213
DSV A/S		3,304		663,312

				1,045,525

Automobile Components - 0.4%
Fuyao Glass Industry Group Co. Ltd., Class H(a)		33,600		149,071
Magna International, Inc.		2,828		182,217

				331,288

Automobiles - 2.7%
Ford Otomotiv Sanayi A/S		5,376		189,590
Geely Automobile Holdings Ltd.		243,000		350,851
Mercedes-Benz Group AG		11,956		957,547
Yadea Group Holdings Ltd.(a)(b)		252,000		570,649

				2,068,637

Banks - 14.0%
Agricultural Bank of China Ltd., Class H		448,000		162,571
ANZ Group Holdings Ltd.		44,156		766,179
Banco Bilbao Vizcaya Argentaria SA		43,708		347,452
Banco del Bajio SA(a)(b)		162,400		496,364
Bank of Communications Co. Ltd., Class H		784,000		472,489
Bank of Montreal		10,304		959,280
Barclays plc		186,732		372,305
BNP Paribas SA		8,344		552,165
China Construction Bank Corp., Class H		840,000		487,927
China Merchants Bank Co. Ltd., Class H		112,000		552,195
Credit Agricole SA		14,672		182,569
FinecoBank Banca Fineco SpA		42,308		658,418
Industrial & Commercial Bank of China Ltd., Class H		1,120,000		545,732
KBC Group NV		9,324		703,164
Komercni Banka A/S		16,744		551,003
Nordea Bank Abp		23,492		266,232
Powszechna Kasa Oszczednosci Bank Polski SA		73,052		743,577
Royal Bank of Canada		12,236		1,215,280
Sberbank of Russia PJSC (Preference)‡		31,920		—
Skandinaviska Enskilda Banken AB, Class A		50,540		613,502
Standard Bank Group Ltd.		13,496		144,949

				10,793,353

Beverages - 0.7%
Diageo plc		13,160		575,275


Investments	Shares		Value ($)
Broadline Retail - 0.5%
momo.com, Inc.		22,000		419,328

Building Products - 1.0%
Geberit AG (Registered)		1,092		621,552
Lixil Corp.		11,800		150,947

				772,499

Capital Markets - 3.8%
3i Group plc		25,956		660,245
Amundi SA(a)		2,324		142,978
Julius Baer Group Ltd.		6,244		443,710
Partners Group Holding AG		672		758,166
Samsung Securities Co. Ltd.		8,456		238,160
UBS Group AG (Registered)		31,332		696,688

				2,939,947

Chemicals - 3.0%
BASF SE		7,280		391,456
Fertiglobe plc		400,176		390,038
Nissan Chemical Corp.(b)		9,800		440,131
Shin-Etsu Chemical Co. Ltd.		16,800		553,260
Sociedad Quimica y Minera de Chile SA (Preference), Class B		5,180		379,566
Wacker Chemie AG		1,036		161,456
Yara International ASA		392		16,057

				2,331,964

Construction Materials - 0.1%
CRH plc		868		51,851

Consumer Staples Distribution & Retail - 0.2%
Cencosud SA		27,860		59,835
Jeronimo Martins SGPS SA		3,948		107,777
Kesko OYJ, Class B		1,036		20,783

				188,395

Diversified REITs - 0.9%
Growthpoint Properties Ltd., REIT		185,472		132,139
Stockland, REIT(b)		189,672		539,360

				671,499

Diversified Telecommunication Services - 0.3%
Telefonica SA		47,208		201,795
Telenor ASA		1,680		18,018

				219,813

Electric Utilities - 0.9%
Enel SpA		39,592		273,786
Fortum OYJ		21,672		294,141
SSE plc		5,460		118,408

				686,335

Electronic Equipment, Instruments & Components - 0.6%
Nan Ya Printed Circuit Board Corp.		59,000		465,594

Entertainment - 0.6%
Universal Music Group NV		16,800		432,138

Financial Services - 3.1%
FirstRand Ltd.		90,216		369,259


Investments	Shares		Value ($)
GMO Payment Gateway, Inc.		5,600		427,055
Power Finance Corp. Ltd.		233,380		741,720
REC Ltd.		335,328		827,427

				2,365,461

Food Products - 1.7%
JBS SA		47,600		187,917
Nestle SA (Registered)		4,536		559,275
Uni-President China Holdings Ltd.		560,000		483,260
Yihai International Holding Ltd.(b)		51,000		116,404

				1,346,856

Gas Utilities - 0.3%
Kunlun Energy Co. Ltd.		192,000		156,334
Naturgy Energy Group SA(b)		2,044		62,515

				218,849

Ground Transportation - 0.7%
Aurizon Holdings Ltd.		191,884		492,637
TFI International, Inc.		476		61,206

				553,843

Health Care Equipment & Supplies - 2.2%
Hoya Corp.		5,700		663,154
Sonova Holding AG (Registered)		2,100		587,472
Straumann Holding AG (Registered)		1,288		214,184
Sysmex Corp.		3,300		223,554

				1,688,364

Health Care Providers & Services - 0.6%
Amplifon SpA		14,028		476,216

Health Care Technology - 0.7%
M3, Inc.		25,200		578,742

Hotels, Restaurants & Leisure - 1.0%
Evolution AB(a)		1,736		214,450
OPAP SA		32,040		565,564

				780,014

Household Durables - 1.1%
Haier Smart Home Co. Ltd., Class H		50,400		164,473
Persimmon plc		9,744		145,305
Taylor Wimpey plc		353,584		520,223

				830,001

Industrial Conglomerates - 0.9%
Industries Qatar QSC		149,576		547,761
Quinenco SA		35,056		121,933

				669,694

Industrial REITs - 0.2%
Goodman Group, REIT		13,496		186,796

Insurance - 2.1%
AXA SA		13,832		426,556
BB Seguridade Participacoes SA		30,800		201,489
Legal & General Group plc		56,616		170,020
Manulife Financial Corp.		33,572		672,333
Powszechny Zaklad Ubezpieczen SA		17,416		176,706

				1,647,104


Investments	Shares		Value ($)
Interactive Media & Services - 2.6%
Autohome, Inc., ADR		3,976		127,113
REA Group Ltd.(b)		5,712		606,338
Rightmove plc		78,484		575,998
SEEK Ltd.(b)		9,744		163,493
Tencent Holdings Ltd.		12,300		558,955

				2,031,897

IT Services - 0.2%
Infosys Ltd.		7,644		125,995

Leisure Products - 0.6%
Shimano, Inc.		3,100		470,193

Machinery - 4.4%
Atlas Copco AB, Class A		21,168		301,580
Atlas Copco AB, Class B		4,592		56,791
Daifuku Co. Ltd.		29,000		619,475
FANUC Corp.		16,800		514,121
MISUMI Group, Inc.		22,400		409,043
VAT Group AG(a)(b)		1,596		681,409
Volvo AB, Class B		12,012		265,276
Yaskawa Electric Corp.(b)		12,500		542,916

				3,390,611

Marine Transportation - 2.6%
AP Moller - Maersk A/S, Class A(b)		196		395,230
COSCO SHIPPING Holdings Co. Ltd., Class H		350,000		369,357
Evergreen Marine Corp. Taiwan Ltd.		112,000		370,643
Hapag-Lloyd AG(a)		84		19,208
Orient Overseas International Ltd.(b)		28,000		466,385
Yang Ming Marine Transport Corp.		280,000		414,300

				2,035,123

Media - 0.5%
Publicis Groupe SA		2,576		208,525
WPP plc		16,492		180,705

				389,230

Metals & Mining - 6.6%
BHP Group Ltd.		78,148		2,422,888
Fortescue Metals Group Ltd.		14,280		208,618
Gerdau SA (Preference)		21,965		135,058
Kumba Iron Ore Ltd.		20,524		563,887
MMC Norilsk Nickel PJSC*‡		2,128		—
Norsk Hydro ASA		87,388		573,574
Rio Tinto plc		9,632		638,240
Severstal PAO*‡		7,952		—
Vedanta Ltd.		163,800		549,659

				5,091,924

Oil, Gas & Consumable Fuels - 7.8%
Adaro Energy Indonesia Tbk. PT		1,358,000		217,028
Canadian Natural Resources Ltd.		17,276		1,052,507
Coal India Ltd.		187,040		521,332
Equinor ASA(b)		14,672		447,274
Exxaro Resources Ltd.		60,816		554,068
OMV AG		3,612		163,279
Ovintiv, Inc.(b)		4,816		221,970


Investments	Shares		Value ($)
Petroleo Brasileiro SA		56,000		409,783
Petroleo Brasileiro SA (Preference)		117,600		769,077
Shell plc		3,472		105,695
United Tractors Tbk. PT		336,000		613,289
Var Energi ASA		215,180		657,249
Woodside Energy Group Ltd.(b)		10,109		258,784

				5,991,335

Personal Care Products - 2.2%
L’Oreal SA		3,724		1,737,615

Pharmaceuticals - 3.8%
Astellas Pharma, Inc.		16,800		246,005
AstraZeneca plc		1,148		165,226
China Medical System Holdings Ltd.		267,000		448,498
Chugai Pharmaceutical Co. Ltd.		7,300		217,387
CSPC Pharmaceutical Group Ltd.		422,000		351,184
GSK plc		29,428		524,258
Novartis AG (Registered)		1,316		138,257
Novo Nordisk A/S, Class B		3,752		606,266
Orion OYJ, Class B		448		17,258
Roche Holding AG		644		201,034

				2,915,373

Professional Services - 1.8%
Randstad NV		10,864		638,194
Recruit Holdings Co. Ltd.		22,400		777,725

				1,415,919

Real Estate Management & Development - 1.2%
China Evergrande Group*‡(b)		928,000		—
Daiwa House Industry Co. Ltd.		3,800		103,291
Land & Houses PCL, NVDR		800,800		198,862
Longfor Group Holdings Ltd.(a)		238,000		633,247

				935,400

Retail REITs - 0.2%
RioCan REIT, REIT(b)		8,036		122,410

Semiconductors & Semiconductor Equipment - 7.7%
ASM International NV		420		200,394
ASML Holding NV		4,704		3,382,567
Globalwafers Co. Ltd.		8,000		130,845
MediaTek, Inc.		13,000		285,428
Novatek Microelectronics Corp.		43,000		580,147
Taiwan Semiconductor Manufacturing Co. Ltd.		44,000		791,052
Tokyo Electron Ltd.		3,600		538,303

				5,908,736

Software - 0.7%
Nemetschek SE		7,364		537,814

Specialty Retail - 1.8%
Fast Retailing Co. Ltd.		1,100		275,310
Industria de Diseno Textil SA		19,516		749,020
ZOZO, Inc.		18,500		360,937

				1,385,267

Technology Hardware, Storage & Peripherals - 0.8%
Samsung Electronics Co. Ltd.		6,412		351,122


Investments	Shares		Value ($)
Samsung Electronics Co. Ltd. (Preference)		6,160		277,397

				628,519

Textiles, Apparel & Luxury Goods - 4.2%
Burberry Group plc		7,784		222,640
Cie Financiere Richemont SA (Registered)		6,916		1,119,357
Hermes International		212		471,338
Kering SA		560		323,285
LVMH Moet Hennessy Louis Vuitton SE		280		261,820
Moncler SpA		1,344		97,386
Pandora A/S		6,552		657,594
Shenzhou International Group Holdings Ltd.		11,200		117,835

				3,271,255

Tobacco - 1.5%
Imperial Brands plc		23,072		546,067
Japan Tobacco, Inc.		28,000		621,368

				1,167,435

Trading Companies & Distributors - 0.8%
Howden Joinery Group plc		65,128		617,583

Wireless Telecommunication Services - 0.1%
Vodafone Group plc		57,036		54,621

TOTAL COMMON STOCKS (COST $73,076,657)				75,559,636


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS - 1.2%(c)

REPURCHASE AGREEMENTS - 1.2%
Citigroup Global Markets, Inc., 5.28%, dated 7/31/2023, due 8/1/2023, repurchase price $915,563, collateralized by various U.S. Treasury Securities, ranging from 0.50% - 2.63%, maturing 8/31/2026 - 2/15/2029; total market value $926,719 (Cost $915,429)		915,429		915,429


Total Investments - 99.0% (Cost $73,992,086)				76,475,065
Other assets less liabilities - 1.0%				761,759

Net Assets - 100.0%				77,236,824

*	Non-income producing security.

‡	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

FlexShares^® International Quality Dividend Dynamic Index Fund had the following open futures contracts as of July 31, 2023:

FlexShares^® International Quality Dividend Dynamic Index Fund had the following outstanding contracts as of July 31, 2023:

FlexShares^® International Quality Dividend Dynamic Index invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:


Investments	Principal Amount ($)		Value ($)
U.S. TREASURY OBLIGATIONS - 99.9%

U.S. Treasury Inflation Linked Bonds
2.38%, 1/15/2025		61,829,864		61,120,995
2.00%, 1/15/2026		41,868,565		41,315,360
2.38%, 1/15/2027		93,433,096		93,999,717
1.75%, 1/15/2028		30,966,213		30,701,911
3.63%, 4/15/2028		42,736,368		45,946,186
2.50%, 1/15/2029		27,432,326		28,369,151
3.88%, 4/15/2029		49,324,700		54,616,026
U.S. Treasury Inflation Linked Notes
0.13%, 10/15/2024		56,422,903		54,444,795
0.25%, 1/15/2025		71,306,038		68,404,356
0.13%, 4/15/2025		56,622,824		53,955,911
0.38%, 7/15/2025		71,265,020		68,280,797
0.13%, 10/15/2025		54,356,601		51,641,956
0.63%, 1/15/2026		73,691,970		70,365,037
0.13%, 4/15/2026		62,540,383		58,773,302
0.13%, 7/15/2026(a)		175,701,807		165,334,714
0.13%, 10/15/2026		160,272,132		150,244,167
0.38%, 1/15/2027		182,103,394		171,218,092
0.13%, 4/15/2027		159,425,337		148,092,750
0.38%, 7/15/2027		62,210,744		58,515,159
1.63%, 10/15/2027		55,541,279		54,887,151
0.50%, 1/15/2028		64,913,585		60,961,716
1.25%, 4/15/2028(a)		56,439,400		54,804,090
0.75%, 7/15/2028		60,331,838		57,434,260
0.88%, 1/15/2029		59,171,015		56,292,784
0.25%, 7/15/2029		64,098,672		58,843,082
0.13%, 1/15/2030		65,699,451		59,142,337

TOTAL U.S. TREASURY OBLIGATIONS (Cost $1,951,681,182)				1,877,705,802

Total Investments - 99.9% (Cost $1,951,681,182)				1,877,705,802
Other assets less liabilities - 0.1%				2,038,434

Net Assets - 100.0%				1,879,744,236

(a)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $28,573,022, collateralized in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 4.75%, and maturity dates ranging from January 15, 2025 – May 15, 2053; a total value of $28,837,635.

Percentages shown are based on Net Assets.


Investments	Principal Amount ($)		Value ($)
U.S. TREASURY OBLIGATIONS - 99.8%

U.S. Treasury Inflation Linked Bonds
2.38%, 1/15/2027		16,344,571		16,443,692
1.75%, 1/15/2028		14,884,280		14,757,240
3.63%, 4/15/2028		20,529,552		22,071,474
2.50%, 1/15/2029		23,082,193		23,870,459
3.88%, 4/15/2029		42,013,500		46,520,515
3.38%, 4/15/2032		5,563,377		6,302,426
2.13%, 2/15/2040		13,869,686		14,656,177
U.S. Treasury Inflation Linked Notes
0.13%, 7/15/2026(a)		52,020		48,950
0.13%, 10/15/2026		27,711,840		25,977,956
0.38%, 1/15/2027		31,553,559		29,667,433
0.13%, 4/15/2027		27,565,090		25,605,653
0.38%, 7/15/2027		29,893,184		28,117,400
1.63%, 10/15/2027		26,685,973		26,371,684
0.50%, 1/15/2028		31,192,402		29,293,443
1.25%, 4/15/2028		27,150,004		26,363,343
0.75%, 7/15/2028		29,756,405		28,327,284
0.88%, 1/15/2029		50,152,094		47,712,566
0.25%, 7/15/2029		54,503,846		50,034,956
0.13%, 1/15/2030		31,568,361		28,417,691
0.13%, 7/15/2030		33,099,167		29,722,341
0.13%, 1/15/2031		32,930,872		29,279,211
0.13%, 7/15/2031		34,571,210		30,643,461
0.13%, 1/15/2032		36,465,310		32,055,286
0.63%, 7/15/2032		33,195,995		30,441,117
1.13%, 1/15/2033		33,252,623		31,769,894
1.38%, 7/15/2033		11,170,394		10,967,058

TOTAL U.S. TREASURY OBLIGATIONS (COST $723,686,147)				685,438,710

Total Investments - 99.8% (Cost $723,686,147)				685,438,710
Other assets less liabilities - 0.2%				1,246,629

Net Assets - 100.0%				686,685,339

(a)

The security or a portion of this security is on loan at July 31, 2023. The total value of securities on loan at July 31, 2023 was $48,950. In addition, there was a receivable for the security that was sold on loan for $11,876,939. The security and the receivable are collateralized in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 3.50%, and maturity dates ranging from August 14, 2023 – May 25, 2054; a total value of $12,550,849. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund, or excess collateral returned by the Fund, on the next business day.


Investments	Principal Amount ($)		Value ($)
MORTGAGE-BACKED SECURITIES - 99.2%

FHLMC
2.50%, 1/1/2028		126,750		120,776
2.50%, 4/1/2028		384,878		366,448
2.50%, 7/1/2028		200,479		190,352
2.50%, 1/1/2029		28,222		26,830
2.50%, 1/1/2030		321,417		306,356
5.00%, 5/1/2034		42,197		42,414
5.00%, 7/1/2035		98,655		99,162
5.00%, 8/1/2035		79,693		80,103
5.00%, 10/1/2035		14,076		14,111
5.00%, 11/1/2035		135,917		136,617
5.00%, 12/1/2035		84,100		84,533
6.00%, 1/1/2037		54,964		56,967
6.00%, 4/1/2037		28,790		29,839
6.00%, 5/1/2037		49,224		51,018
5.00%, 2/1/2038		42,155		42,372
5.00%, 7/1/2038		41,765		41,980
5.00%, 10/1/2038		38,396		38,593
5.00%, 2/1/2039		99,364		99,874
5.00%, 5/1/2039		53,905		54,183
5.00%, 6/1/2039		19,275		19,375
5.00%, 7/1/2039		42,776		42,881
5.00%, 9/1/2039		4,471		4,494
6.00%, 11/1/2039		30,203		31,303
5.00%, 1/1/2040		13,167		13,200
5.00%, 3/1/2040		35,361		35,543
5.00%, 4/1/2040		15,636		15,717
6.00%, 4/1/2040		33,858		34,768
5.00%, 5/1/2040		13,985		14,019
6.00%, 5/1/2040		82,462		85,027
5.00%, 7/1/2040		80,393		80,707
6.00%, 7/1/2040		130,268		134,915
4.00%, 1/1/2041		11,776		11,276
5.00%, 5/1/2041		113,077		112,861
3.50%, 11/1/2041		55,757		51,966
3.00%, 3/1/2042		9,450		8,491
3.00%, 4/1/2042		72,700		65,322
3.00%, 6/1/2042		61,005		54,814
3.00%, 8/1/2042		34,312		30,829
3.00%, 11/1/2042		239,001		214,743
3.00%, 12/1/2042		74,386		66,837
3.00%, 1/1/2043		38,417		34,518
3.00%, 2/1/2043		20,305		18,245
3.00%, 3/1/2043		104,718		94,093
3.00%, 4/1/2043		25,044		22,501
3.00%, 6/1/2043		15,742		14,145
3.00%, 10/1/2043		49,000		44,027
4.00%, 8/1/2044		11,011		10,378
5.00%, 8/1/2044		31,354		31,515
4.00%, 1/1/2045		33,611		32,013
4.00%, 2/1/2045		74,323		71,601


Investments	Principal Amount ($)		Value ($)
4.50%, 2/1/2045		368,102		357,094
4.00%, 8/1/2045		83,717		79,758
4.00%, 9/1/2045		14,117		13,432
4.00%, 10/1/2045		141,788		134,800
4.00%, 11/1/2045		28,480		27,125
4.00%, 12/1/2045		11,811		11,233
4.00%, 1/1/2046		36,689		34,938
2.50%, 9/1/2046		21,815		18,726
3.00%, 11/1/2046		25,408		22,701
FHLMC UMBS
3.00%, 8/1/2026		44,049		42,665
3.00%, 1/1/2027		71,077		68,630
3.00%, 2/1/2027		40,991		39,513
3.00%, 4/1/2027		251,873		242,874
2.50%, 6/1/2027		24,184		23,091
2.50%, 3/1/2028		837,563		796,487
3.00%, 8/1/2029		114,651		108,966
2.50%, 8/1/2030		901,463		834,872
2.50%, 11/1/2030		36,989		35,080
3.00%, 5/1/2031		70,224		67,541
2.00%, 8/1/2031		28,464		25,725
4.00%, 8/1/2031		70,219		68,170
4.00%, 9/1/2031		63,787		61,924
2.00%, 11/1/2031		46,017		41,540
2.50%, 12/1/2031		616,524		569,900
2.00%, 1/1/2032		91,881		83,037
4.00%, 1/1/2032		85,911		83,401
2.00%, 2/1/2032		97,797		88,383
3.50%, 2/1/2032		156,349		149,451
4.00%, 2/1/2032		132,054		128,197
3.50%, 3/1/2032		132,883		127,020
3.50%, 7/1/2032		103,521		98,694
2.00%, 12/1/2032		754,126		681,524
3.00%, 4/1/2033		1,423,675		1,355,768
3.50%, 5/1/2033		31,430		29,732
3.00%, 10/1/2033		2,298,450		2,184,255
5.00%, 8/1/2035		361,084		362,514
2.00%, 10/1/2035		1,118,839		994,874
1.50%, 2/1/2036		1,180,782		1,016,001
2.00%, 3/1/2036		437,604		389,712
1.50%, 4/1/2036		784,794		675,258
4.00%, 5/1/2036		24,774		24,051
5.00%, 3/1/2038		48,807		49,000
5.00%, 7/1/2039		67,219		67,304
3.00%, 9/1/2039		103,265		93,700
3.00%, 10/1/2039		29,499		26,766
5.00%, 10/1/2039		24,130		24,226
3.00%, 11/1/2039		116,176		105,415
3.00%, 1/1/2040		98,254		89,152
5.00%, 1/1/2040		25,433		25,624
5.00%, 3/1/2040		37,229		37,377
5.00%, 5/1/2040		52,198		52,405
2.00%, 7/1/2040		105,345		90,036
1.50%, 10/1/2040		546,102		442,288
3.50%, 12/1/2040		41,742		38,858


Investments	Principal Amount ($)		Value ($)
2.00%, 1/1/2041		168,042		142,268
2.00%, 2/1/2041		1,208,109		1,028,056
1.50%, 3/1/2041		710,102		574,622
2.00%, 3/1/2041		608,205		517,182
4.50%, 3/1/2041		71,134		69,885
4.50%, 4/1/2041		15,536		15,277
1.50%, 5/1/2041		627,401		507,112
2.50%, 6/1/2041		786,933		685,399
4.00%, 1/1/2042		55,598		53,529
5.00%, 2/1/2042		44,610		44,787
3.50%, 11/1/2042		72,615		67,493
3.50%, 1/1/2043		36,698		34,253
3.50%, 2/1/2043		25,115		23,379
2.50%, 6/1/2043		384,506		329,815
4.00%, 12/1/2043		11,031		10,536
4.50%, 3/1/2044		51,637		50,674
4.00%, 6/1/2044		3,978		3,749
4.50%, 7/1/2044		19,114		18,687
4.00%, 8/1/2044		11,898		11,201
4.00%, 12/1/2044		708,414		667,359
4.50%, 12/1/2044		12,512		12,226
5.00%, 12/1/2044		117,712		118,178
4.00%, 2/1/2045		14,865		14,304
4.50%, 9/1/2045		14,639		14,276
4.00%, 10/1/2045		38,229		36,361
4.00%, 12/1/2045		18,980		18,118
4.50%, 12/1/2045		617,726		603,616
3.00%, 1/1/2046		41,139		36,917
4.00%, 1/1/2046		33,169		31,572
4.00%, 2/1/2046		1,031,143		986,221
4.50%, 4/1/2046		30,993		30,381
4.00%, 11/1/2046		948,611		894,517
4.50%, 3/1/2047		439,898		431,082
4.50%, 8/1/2048		417,190		407,522
6.00%, 6/1/2053		879,417		885,081
FNMA UMBS
3.50%, 12/1/2025		492,072		480,862
4.00%, 5/1/2026		286,353		279,146
3.00%, 11/1/2026		621,670		600,781
3.00%, 12/1/2026		186,525		180,096
3.50%, 12/1/2026		276,612		269,628
3.00%, 1/1/2027		62,392		60,245
3.00%, 2/1/2027		72,126		69,602
3.00%, 6/1/2027		240,795		231,914
3.00%, 8/1/2027		253,579		243,781
3.00%, 10/1/2027		73,952		71,085
3.00%, 11/1/2027		91,148		87,479
2.50%, 12/1/2027		179,163		170,573
2.50%, 1/1/2028		1,468,580		1,396,248
2.50%, 4/1/2028		60,243		57,282
2.50%, 9/1/2028		46,977		44,746
3.50%, 12/1/2028		89,341		85,473
3.00%, 2/1/2029		120,008		114,896
2.50%, 3/1/2029		222,956		212,016
2.50%, 6/1/2029		83,425		79,464
3.50%, 12/1/2029		713,978		686,540
2.50%, 7/1/2030		207,504		197,217
3.00%, 7/1/2030		799,487		765,680


Investments	Principal Amount ($)		Value ($)
2.50%, 8/1/2030		911,055		843,758
3.00%, 9/1/2030		1,134,779		1,087,250
3.50%, 10/1/2030		49,617		47,432
3.50%, 11/1/2030		8,545		8,169
3.50%, 2/1/2031		768,123		734,904
2.50%, 3/1/2031		429,496		407,325
4.00%, 8/1/2031		170,578		165,597
2.00%, 9/1/2031		23,348		21,100
2.00%, 11/1/2031		56,072		50,677
4.00%, 12/1/2031		59,671		57,927
4.00%, 3/1/2032		42,530		41,287
3.50%, 7/1/2032		225,788		215,083
3.50%, 10/1/2032		273,386		266,258
6.00%, 12/1/2032		9,962		10,215
6.00%, 4/1/2033		6,569		6,751
4.00%, 10/1/2033		34,937		33,918
4.00%, 3/1/2034		521,465		508,320
6.00%, 8/1/2034		33,868		35,060
6.50%, 9/1/2034		98,690		102,812
6.00%, 12/1/2034		150,523		155,571
3.00%, 2/1/2035		752,489		715,164
3.00%, 7/1/2035		1,045,759		990,299
5.00%, 8/1/2035		20,177		20,257
6.00%, 11/1/2035		29,405		30,346
5.00%, 12/1/2035		44,938		45,116
4.50%, 6/1/2036		458,749		451,021
6.00%, 6/1/2036		40,523		41,951
2.00%, 7/1/2036		939,750		832,369
2.50%, 7/1/2036		736,198		668,834
5.00%, 7/1/2036		19,995		20,074
6.50%, 8/1/2036		15,295		15,853
2.50%, 11/1/2036		560,590		503,238
6.00%, 11/1/2036		38,366		39,718
1.50%, 2/1/2037		874,283		752,205
6.00%, 8/1/2037		136,297		140,902
6.00%, 9/1/2037		19,069		19,740
6.50%, 10/1/2037		30,174		30,858
5.00%, 3/1/2038		48,855		49,049
5.00%, 5/1/2038		38,246		38,398
6.00%, 5/1/2038		13,399		13,860
6.00%, 9/1/2038		24,895		25,691
5.00%, 6/1/2039		43,303		43,475
3.50%, 8/1/2039		691,087		650,285
5.00%, 10/1/2039		43,680		43,854
3.00%, 1/1/2040		37,241		33,794
5.00%, 2/1/2040		37,830		38,328
5.00%, 6/1/2040		14,283		14,301
6.00%, 6/1/2040		102,709		105,614
3.50%, 1/1/2041		35,139		32,817
1.50%, 2/1/2041		786,594		636,859
3.50%, 2/1/2041		22,568		20,637
1.50%, 4/1/2041		425,674		344,245
2.00%, 5/1/2041		813,724		689,817
4.50%, 5/1/2041		37,511		36,842
5.00%, 5/1/2041		31,711		31,837
6.00%, 5/1/2041		23,035		23,819
4.50%, 6/1/2041		12,582		12,340
2.50%, 7/1/2041		595,579		517,794


Investments	Principal Amount ($)		Value ($)
5.00%, 7/1/2041		411,901		413,538
6.00%, 7/1/2041		26,375		27,304
4.50%, 8/1/2041		110,612		108,773
5.00%, 8/1/2041		60,634		60,875
4.00%, 9/1/2041		187,226		180,099
4.50%, 9/1/2041		69,847		68,502
3.50%, 10/1/2041		126,945		118,173
4.00%, 10/1/2041		47,562		45,792
5.00%, 10/1/2041		61,070		61,312
4.00%, 11/1/2041		69,478		66,451
4.00%, 12/1/2041		17,124		16,378
4.00%, 1/1/2042		156,807		148,263
4.50%, 1/1/2042		17,453		17,162
6.00%, 1/1/2042		65,894		68,222
3.00%, 3/1/2042		26,000		23,333
4.00%, 3/1/2042		79,815		76,738
3.00%, 4/1/2042		47,531		42,656
4.50%, 4/1/2042		92,427		90,887
3.50%, 5/1/2042		23,469		21,847
4.50%, 5/1/2042		64,228		63,159
3.50%, 6/1/2042		42,094		39,186
3.50%, 7/1/2042		127,302		118,505
4.00%, 7/1/2042		107,433		103,691
3.50%, 8/1/2042		39,675		37,080
3.00%, 9/1/2042		69,189		62,092
3.50%, 9/1/2042		13,434		12,506
4.00%, 9/1/2042		67,499		64,987
3.00%, 10/1/2042		140,491		126,081
3.50%, 10/1/2042		24,815		23,100
2.50%, 12/1/2042		227,971		195,546
3.00%, 12/1/2042		134,579		120,774
2.50%, 1/1/2043		7,808		6,697
3.00%, 1/1/2043		130,848		117,425
3.50%, 1/1/2043		36,552		33,984
4.00%, 1/1/2043		70,454		67,384
4.50%, 1/1/2043		176,695		173,753
2.50%, 2/1/2043		722,868		619,712
3.00%, 2/1/2043		179,404		160,999
3.50%, 2/1/2043		70,838		65,988
3.50%, 3/1/2043		81,652		76,009
2.50%, 5/1/2043		12,089		10,274
2.50%, 6/1/2043		6,405		5,473
4.00%, 8/1/2043		38,093		36,415
4.00%, 9/1/2043		91,012		87,028
4.50%, 9/1/2043		25,644		25,078
4.00%, 10/1/2043		111,447		106,520
4.00%, 11/1/2043		230,076		221,297
4.50%, 11/1/2043		86,589		84,611
4.50%, 12/1/2043		61,923		60,674
4.00%, 1/1/2044		89,641		85,642
4.50%, 2/1/2044		17,297		16,901
4.50%, 3/1/2044		104,452		103,756
5.00%, 3/1/2044		17,206		17,211
4.00%, 4/1/2044		867,605		825,585
4.50%, 4/1/2044		187,063		182,802
5.00%, 6/1/2044		30,566		30,636
4.00%, 10/1/2044		34,970		33,528
4.50%, 10/1/2044		7,895		7,715


Investments	Principal Amount ($)		Value ($)
4.50%, 12/1/2044		32,402		31,679
4.00%, 2/1/2045		26,227		24,951
4.50%, 2/1/2045		110,820		108,290
4.00%, 4/1/2045		23,615		22,514
4.00%, 8/1/2045		10,849		10,312
4.00%, 11/1/2045		62,527		59,606
4.50%, 11/1/2045		74,311		72,699
4.00%, 12/1/2045		147,494		141,261
4.00%, 2/1/2046		7,454		7,134
4.50%, 3/1/2046		119,037		116,419
4.00%, 4/1/2046		10,893		10,368
2.50%, 6/1/2046		72,727		62,394
4.50%, 6/1/2046		79,597		77,779
4.50%, 7/1/2046		16,478		16,101
4.50%, 8/1/2046		13,757		13,443
2.50%, 10/1/2046		58,832		50,451
4.50%, 10/1/2046		28,119		27,477
2.50%, 12/1/2046		19,898		17,043
4.50%, 1/1/2047		25,462		24,880
4.00%, 2/1/2047		28,802		27,457
4.50%, 2/1/2047		31,792		31,197
4.50%, 5/1/2047		507,747		492,669
4.50%, 7/1/2047		73,689		72,005
5.00%, 7/1/2047		28,803		28,917
4.50%, 4/1/2048		558,418		549,118
5.50%, 2/1/2049		1,767,840		1,810,183
6.00%, 2/1/2049		81,692		85,718
4.50%, 7/1/2049		473,729		460,118
4.50%, 11/1/2049		869,037		849,194
4.50%, 5/1/2050		761,694		738,646
3.50%, 7/1/2050		479,924		444,139
4.00%, 7/1/2050		1,293,057		1,220,480
6.00%, 2/1/2053		869,046		876,265
GNMA
5.50%, 8/20/2033		26,156		26,506
5.50%, 11/20/2033		24,560		24,979
5.50%, 3/20/2034		30,211		30,839
5.50%, 7/20/2034		18,997		19,459
5.50%, 9/20/2034		8,346		8,353
5.50%, 3/20/2036		61,742		63,469
5.50%, 9/20/2038		37,411		38,468
5.50%, 2/20/2039		61,400		63,130
4.50%, 5/15/2039		1,546,224		1,522,294
5.00%, 11/15/2039		1,625,244		1,616,120
4.00%, 6/15/2040		300,564		289,472
4.00%, 8/15/2040		300,798		289,669
4.00%, 11/15/2040		235,670		226,676
5.50%, 12/20/2040		17,853		18,340
5.50%, 1/20/2041		18,823		19,355
4.00%, 9/15/2041		880,001		840,382
5.50%, 12/20/2041		45,798		46,275
5.50%, 2/20/2042		12,384		12,734
3.50%, 6/15/2042		443,628		415,387
2.50%, 3/20/2043		39,320		34,484
2.50%, 5/20/2043		57,656		50,565
5.50%, 3/20/2044		52,927		54,411
4.50%, 10/20/2044		115,191		113,772
2.50%, 11/20/2044		34,138		29,942


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 96.9%

Aerospace & Defense - 1.5%
General Dynamics Corp.
3.50%, 5/15/2025		328,000		318,771
3.50%, 4/1/2027		50,000		47,728
3.75%, 5/15/2028		353,000		339,011
3.63%, 4/1/2030		202,000		189,156
Hexcel Corp.
4.20%, 2/15/2027(a)		50,000		47,292
Huntington Ingalls Industries, Inc.
4.20%, 5/1/2030		200,000		185,669
L3Harris Technologies, Inc.
4.40%, 6/15/2028		605,000		585,214
Leidos, Inc.
4.38%, 5/15/2030		252,000		233,641
5.75%, 3/15/2033		130,000		130,126
Lockheed Martin Corp.
4.95%, 10/15/2025		200,000		199,598
3.55%, 1/15/2026		152,000		147,299
3.90%, 6/15/2032		140,000		131,150
5.25%, 1/15/2033		252,000		260,114
Northrop Grumman Corp.
3.25%, 1/15/2028		400,000		373,939
4.40%, 5/1/2030		252,000		244,554
RTX Corp.
5.15%, 2/27/2033		150,000		150,095
Textron, Inc.
3.90%, 9/17/2029		252,000		231,576
3.00%, 6/1/2030		252,000		218,808

				4,033,741

Air Freight & Logistics - 0.2%
CH Robinson Worldwide, Inc.
4.20%, 4/15/2028		212,000		202,772
United Parcel Service, Inc.
2.50%, 9/1/2029		303,000		269,940
4.45%, 4/1/2030		50,000		49,480

				522,192

Automobile Components - 0.2%
Lear Corp.
4.25%, 5/15/2029		150,000		141,610
Magna International, Inc.
2.45%, 6/15/2030		200,000		168,703
5.50%, 3/21/2033		100,000		102,277

				412,590

Banks - 25.8%
Associated Banc-Corp.
4.25%, 1/15/2025		50,000		47,505
Banco Bilbao Vizcaya Argentaria SA
5.86%, 9/14/2026(b)		200,000		198,195
Banco Santander SA
3.50%, 3/24/2025		200,000		192,462
5.18%, 11/19/2025		151,000		147,578


Investments	Principal Amount ($)		Value ($)
1.85%, 3/25/2026		200,000		180,321
1.72%, 9/14/2027(b)		202,000		177,340
Bank of America Corp.
4.20%, 8/26/2024		101,000		99,390
Series L, 3.95%, 4/21/2025		410,000		397,030
3.37%, 1/23/2026(b)		500,000		481,996
4.45%, 3/3/2026		134,000		130,427
Series N, 1.66%, 3/11/2027(b)		50,000		45,072
3.56%, 4/23/2027(b)		401,000		380,612
1.73%, 7/22/2027(b)		364,000		326,137
3.71%, 4/24/2028(b)		5,000		4,691
3.59%, 7/21/2028(b)		451,000		419,999
4.95%, 7/22/2028(b)		139,000		136,722
3.42%, 12/20/2028(b)		580,000		533,994
3.97%, 3/5/2029(b)		145,000		136,417
5.20%, 4/25/2029(b)		250,000		248,309
2.09%, 6/14/2029(b)		250,000		214,494
4.27%, 7/23/2029(b)		280,000		266,022
3.97%, 2/7/2030(b)		715,000		665,081
3.19%, 7/23/2030(b)		252,000		223,198
2.50%, 2/13/2031(b)		164,000		137,400
2.59%, 4/29/2031(b)		90,000		75,644
1.90%, 7/23/2031(b)		252,000		200,633
Series N, 2.65%, 3/11/2032(b)		100,000		82,806
2.69%, 4/22/2032(b)		164,000		135,839
2.30%, 7/21/2032(b)		174,000		139,185
2.57%, 10/20/2032(b)		252,000		204,519
2.97%, 2/4/2033(b)		101,000		84,373
4.57%, 4/27/2033(b)		201,000		188,960
5.02%, 7/22/2033(b)		202,000		197,227
5.29%, 4/25/2034(b)		301,000		298,703
3.85%, 3/8/2037(b)		102,000		87,926
Bank of Montreal
1.50%, 1/10/2025		252,000		237,650
1.25%, 9/15/2026		250,000		221,719
3.80%, 12/15/2032(b)		655,000		580,785
3.09%, 1/10/2037(b)		25,000		19,580
Bank of Nova Scotia (The)
4.50%, 12/16/2025		273,000		264,681
4.75%, 2/2/2026		250,000		246,716
4.59%, 5/4/2037(b)		150,000		129,715
Series 2, 3.62%, 10/27/2081(b)		252,000		182,451
8.62%, 10/27/2082(b)		303,000		315,107
Bank OZK
2.75%, 10/1/2031(b)		101,000		77,931
BankUnited, Inc.
5.13%, 6/11/2030		151,000		122,623
Barclays plc
3.65%, 3/16/2025		151,000		145,686
5.20%, 5/12/2026		252,000		245,412
5.30%, 8/9/2026(b)		303,000		298,749


Investments	Principal Amount ($)		Value ($)
4.84%, 5/9/2028		303,000		282,395
7.44%, 11/2/2033(b)		200,000		218,085
3.56%, 9/23/2035(b)		200,000		160,883
Cadence Bank
4.12%, 11/20/2029(b)		100,000		91,644
Canadian Imperial Bank of Commerce
2.25%, 1/28/2025		703,000		669,558
Citigroup, Inc.
4.60%, 3/9/2026		384,000		374,682
3.11%, 4/8/2026(b)		454,000		434,541
3.20%, 10/21/2026		303,000		284,082
1.46%, 6/9/2027(b)		400,000		356,547
4.45%, 9/29/2027		1,010,000		971,512
3.67%, 7/24/2028(b)		252,000		235,220
4.13%, 7/25/2028		454,000		427,322
4.07%, 4/23/2029(b)		202,000		190,659
3.98%, 3/20/2030(b)		757,000		701,861
2.67%, 1/29/2031(b)		353,000		298,618
4.41%, 3/31/2031(b)		600,000		563,937
2.57%, 6/3/2031(b)		252,000		210,304
2.56%, 5/1/2032(b)		50,000		40,830
3.06%, 1/25/2033(b)		202,000		168,659
5.88%, 2/22/2033		100,000		101,554
3.79%, 3/17/2033(b)		50,000		44,183
4.91%, 5/24/2033(b)		50,000		48,351
6.27%, 11/17/2033(b)		253,000		268,614
6.17%, 5/25/2034(b)		850,000		863,447
Citizens Bank NA
2.25%, 4/28/2025		505,000		467,496
6.06%, 10/24/2025(b)		250,000		242,056
4.57%, 8/9/2028(b)		450,000		422,187
Citizens Financial Group, Inc.
2.85%, 7/27/2026		50,000		45,715
3.25%, 4/30/2030		202,000		171,212
5.64%, 5/21/2037(b)		250,000		224,292
Comerica, Inc.
4.00%, 2/1/2029		403,000		353,982
Cooperatieve Rabobank UA
5.00%, 1/13/2025		250,000		248,300
4.38%, 8/4/2025		252,000		244,119
3.75%, 7/21/2026		252,000		237,746
Discover Bank
2.45%, 9/12/2024		505,000		482,032
3.45%, 7/27/2026		252,000		233,040
4.65%, 9/13/2028		252,000		233,444
2.70%, 2/6/2030		303,000		245,783
Fifth Third Bancorp
2.38%, 1/28/2025		401,000		380,234
2.55%, 5/5/2027		202,000		181,500
1.71%, 11/1/2027(b)		50,000		43,255
4.06%, 4/25/2028(b)		252,000		234,526
6.36%, 10/27/2028(b)		505,000		512,770
4.77%, 7/28/2030(b)		178,000		167,485
Fifth Third Bank NA
3.95%, 7/28/2025		151,000		144,919
3.85%, 3/15/2026		353,000		331,444


Investments	Principal Amount ($)		Value ($)
First Citizens BancShares, Inc.
3.38%, 3/15/2030(b)		100,000		91,640
First Horizon Bank
5.75%, 5/1/2030		263,000		234,496
First-Citizens Bank & Trust Co.
6.13%, 3/9/2028		102,000		102,028
HSBC Holdings plc
2.10%, 6/4/2026(b)		502,000		467,362
4.29%, 9/12/2026(b)		404,000		390,388
4.38%, 11/23/2026		420,000		399,791
2.25%, 11/22/2027(b)		252,000		225,359
4.04%, 3/13/2028(b)		444,000		418,739
4.75%, 6/9/2028(b)		300,000		289,172
5.21%, 8/11/2028(b)		270,000		264,452
7.39%, 11/3/2028(b)		303,000		320,027
4.58%, 6/19/2029(b)		400,000		377,522
3.97%, 5/22/2030(b)		998,000		901,380
2.36%, 8/18/2031(b)		50,000		40,157
2.80%, 5/24/2032(b)		202,000		164,027
4.76%, 3/29/2033(b)		202,000		184,094
5.40%, 8/11/2033(b)		202,000		197,152
8.11%, 11/3/2033(b)		200,000		221,733
6.25%, 3/9/2034(b)		300,000		309,186
6.55%, 6/20/2034(b)		400,000		399,974
Huntington Bancshares, Inc.
2.63%, 8/6/2024		252,000		243,601
4.00%, 5/15/2025		151,000		145,447
4.44%, 8/4/2028(b)		101,000		95,643
2.55%, 2/4/2030		102,000		83,916
2.49%, 8/15/2036(b)		100,000		74,908
Huntington National Bank (The)
5.70%, 11/18/2025(b)		502,000		491,495
5.65%, 1/10/2030		454,000		445,666
ING Groep NV
1.73%, 4/1/2027(b)		202,000		181,200
4.05%, 4/9/2029		202,000		188,928
JPMorgan Chase & Co.
3.88%, 9/10/2024		50,000		49,054
2.30%, 10/15/2025(b)		121,000		115,864
5.55%, 12/15/2025(b)		50,000		49,863
2.00%, 3/13/2026(b)		116,000		109,435
2.08%, 4/22/2026(b)		454,000		426,950
1.05%, 11/19/2026(b)		50,000		45,155
3.96%, 1/29/2027(b)		200,000		193,127
1.58%, 4/22/2027(b)		1,042,000		938,135
3.63%, 12/1/2027		202,000		190,749
3.54%, 5/1/2028(b)		651,000		609,427
2.18%, 6/1/2028(b)		151,000		134,398
3.51%, 1/23/2029(b)		150,000		139,236
4.01%, 4/23/2029(b)		432,000		408,735
4.20%, 7/23/2029(b)		303,000		288,790
4.45%, 12/5/2029(b)		303,000		292,026
3.70%, 5/6/2030(b)		252,000		231,739
8.75%, 9/1/2030		50,000		60,285
2.74%, 10/15/2030(b)		202,000		175,286
4.49%, 3/24/2031(b)		151,000		144,580
2.96%, 5/13/2031(b)		353,000		303,270


Investments	Principal Amount ($)		Value ($)
1.95%, 2/4/2032(b)		177,000		140,917
2.58%, 4/22/2032(b)		50,000		41,474
2.96%, 1/25/2033(b)		300,000		253,146
4.59%, 4/26/2033(b)		143,000		136,444
4.91%, 7/25/2033(b)		300,000		293,139
5.72%, 9/14/2033(b)		251,000		254,863
KeyBank NA
4.15%, 8/8/2025		303,000		289,970
4.70%, 1/26/2026		250,000		238,487
3.40%, 5/20/2026		505,000		452,829
5.85%, 11/15/2027		505,000		495,094
KeyCorp
4.15%, 10/29/2025		50,000		47,715
2.25%, 4/6/2027		303,000		262,894
4.10%, 4/30/2028		352,000		319,454
2.55%, 10/1/2029		151,000		121,574
Lloyds Banking Group plc
4.58%, 12/10/2025		202,000		194,736
3.51%, 3/18/2026(b)		202,000		193,687
4.65%, 3/24/2026		303,000		292,089
7.95%, 11/15/2033(b)		200,000		218,074
M&T Bank Corp.
4.55%, 8/16/2028(b)		121,000		114,573
5.05%, 1/27/2034(b)		100,000		94,004
Manufacturers & Traders Trust Co.
2.90%, 2/6/2025		303,000		288,376
4.65%, 1/27/2026		505,000		486,511
3.40%, 8/17/2027		303,000		271,242
4.70%, 1/27/2028		252,000		240,742
Mitsubishi UFJ Financial Group, Inc.
2.19%, 2/25/2025		404,000		382,377
3.85%, 3/1/2026		252,000		241,701
2.34%, 1/19/2028(b)		303,000		272,095
3.20%, 7/18/2029		154,000		136,445
2.05%, 7/17/2030		100,000		80,952
2.31%, 7/20/2032(b)		200,000		159,390
5.44%, 2/22/2034(b)		200,000		199,868
Mizuho Financial Group, Inc.
2.84%, 9/13/2026		290,000		266,378
1.23%, 5/22/2027(b)		202,000		178,324
1.55%, 7/9/2027(b)		300,000		265,962
4.02%, 3/5/2028		93,000		87,788
5.41%, 9/13/2028(b)		200,000		198,698
4.25%, 9/11/2029(b)		252,000		235,822
3.15%, 7/16/2030(b)		151,000		131,287
2.59%, 5/25/2031(b)		252,000		208,043
2.56%, 9/13/2031		50,000		39,372
5.75%, 7/6/2034(b)		270,000		271,358
Morgan Stanley Bank NA
4.75%, 4/21/2026		250,000		246,921
National Australia Bank Ltd.
5.13%, 11/22/2024		252,000		251,120
4.97%, 1/12/2026		250,000		249,096
NatWest Group plc
4.80%, 4/5/2026		502,000		488,750
7.47%, 11/10/2026(b)		200,000		206,265
5.08%, 1/27/2030(b)		353,000		337,578


Investments	Principal Amount ($)		Value ($)
4.44%, 5/8/2030(b)		505,000		468,331
PNC Bank NA
3.88%, 4/10/2025		303,000		291,638
4.05%, 7/26/2028		252,000		233,163
2.70%, 10/22/2029		164,000		137,988
PNC Financial Services Group, Inc. (The)
5.35%, 12/2/2028(b)		200,000		198,826
3.45%, 4/23/2029		252,000		229,816
2.55%, 1/22/2030		252,000		212,729
5.07%, 1/24/2034(b)		150,000		144,718
Regions Financial Corp.
2.25%, 5/18/2025		452,000		425,013
1.80%, 8/12/2028		160,000		133,450
Royal Bank of Canada
2.25%, 11/1/2024		252,000		242,139
4.65%, 1/27/2026		303,000		297,339
6.00%, 11/1/2027		502,000		516,599
5.00%, 2/1/2033		400,000		392,776
5.00%, 5/2/2033		270,000		264,170
Santander Holdings USA, Inc.
3.45%, 6/2/2025		100,000		95,071
4.50%, 7/17/2025		192,000		186,453
2.49%, 1/6/2028(b)		150,000		130,353
Santander UK Group Holdings plc
3.82%, 11/3/2028(b)		202,000		182,690
Sumitomo Mitsui Financial Group, Inc.
1.47%, 7/8/2025		252,000		232,640
2.63%, 7/14/2026		200,000		184,954
1.40%, 9/17/2026		202,000		178,414
3.01%, 10/19/2026		250,000		232,050
3.36%, 7/12/2027		202,000		188,675
1.90%, 9/17/2028		242,000		203,423
4.31%, 10/16/2028		98,000		92,888
2.47%, 1/14/2029		202,000		173,432
3.04%, 7/16/2029		400,000		350,723
2.72%, 9/27/2029		52,000		44,424
5.71%, 1/13/2030		202,000		204,542
2.75%, 1/15/2030		252,000		216,721
2.13%, 7/8/2030		252,000		204,643
2.14%, 9/23/2030		100,000		79,894
Synovus Bank
5.63%, 2/15/2028		300,000		279,845
Toronto-Dominion Bank (The)
4.29%, 9/13/2024		252,000		248,173
1.45%, 1/10/2025		202,000		190,861
5.53%, 7/17/2026		540,000		542,439
4.11%, 6/8/2027		353,000		339,130
4.69%, 9/15/2027		50,000		49,041
3.62%, 9/15/2031(b)		505,000		470,437
3.20%, 3/10/2032		100,000		86,104
4.46%, 6/8/2032		121,000		113,919
8.12%, 10/31/2082(b)		505,000		518,786
Truist Bank
3.63%, 9/16/2025		252,000		238,401
3.30%, 5/15/2026		290,000		269,871
3.80%, 10/30/2026		285,000		263,182


Investments	Principal Amount ($)		Value ($)
Truist Financial Corp.
2.85%, 10/26/2024		50,000		48,185
4.00%, 5/1/2025		111,000		107,710
3.70%, 6/5/2025		200,000		192,666
3.88%, 3/19/2029		273,000		246,336
US Bancorp
3.10%, 4/27/2026		500,000		472,234
3.00%, 7/30/2029		202,000		173,737
4.97%, 7/22/2033(b)		101,000		93,280
4.84%, 2/1/2034(b)		150,000		140,877
US Bank NA
2.05%, 1/21/2025		2,000		1,897
Valley National Bancorp (CME Term SOFR 3 Month + 2.36%), 3.00%, 6/15/2031(c)		100,000		82,186
Wells Fargo & Co.
3.00%, 2/19/2025		302,000		290,596
3.55%, 9/29/2025		101,000		97,013
2.41%, 10/30/2025(b)		202,000		193,301
2.16%, 2/11/2026(b)		101,000		95,454
3.00%, 4/22/2026		200,000		188,222
2.19%, 4/30/2026(b)		572,000		537,904
4.10%, 6/3/2026		702,000		673,915
3.00%, 10/23/2026		151,000		140,750
3.20%, 6/17/2027(b)		722,000		675,302
3.53%, 3/24/2028(b)		500,000		467,406
3.58%, 5/22/2028(b)		116,000		108,321
2.39%, 6/2/2028(b)		505,000		451,734
4.81%, 7/25/2028(b)		353,000		344,224
4.15%, 1/24/2029		400,000		379,441
2.88%, 10/30/2030(b)		400,000		346,260
2.57%, 2/11/2031(b)		252,000		212,861
4.48%, 4/4/2031(b)		300,000		284,385
3.35%, 3/2/2033(b)		101,000		86,468
4.90%, 7/25/2033(b)		303,000		290,432
5.39%, 4/24/2034(b)		1,101,000		1,092,341
Westpac Banking Corp.
1.15%, 6/3/2026		250,000		223,761
5.46%, 11/18/2027		200,000		203,566
2.89%, 2/4/2030(b)		252,000		236,714
4.32%, 11/23/2031(b)		454,000		423,575
5.41%, 8/10/2033(b)		100,000		94,780
4.11%, 7/24/2034(b)		404,000		356,829
2.67%, 11/15/2035(b)		200,000		154,139
3.02%, 11/18/2036(b)		150,000		115,478
Wintrust Financial Corp.
4.85%, 6/6/2029		100,000		89,531
Zions Bancorp NA
3.25%, 10/29/2029		252,000		197,804

				69,755,737

Beverages - 1.3%
Brown-Forman Corp.
4.75%, 4/15/2033		130,000		130,211
Coca-Cola Co. (The)
1.00%, 3/15/2028		702,000		604,287
2.13%, 9/6/2029		202,000		177,534


Investments	Principal Amount ($)		Value ($)
3.45%, 3/25/2030		303,000		284,129
2.25%, 1/5/2032		200,000		169,179
Coca-Cola Femsa SAB de CV
2.75%, 1/22/2030		303,000		268,610
1.85%, 9/1/2032		150,000		117,111
Constellation Brands, Inc.
4.65%, 11/15/2028		252,000		247,746
2.25%, 8/1/2031		100,000		80,946
Diageo Capital plc
2.38%, 10/24/2029		404,000		351,663
Keurig Dr Pepper, Inc.
3.95%, 4/15/2029		143,000		135,722
4.05%, 4/15/2032		151,000		140,163
PepsiCo, Inc.
7.00%, 3/1/2029		100,000		111,969
2.63%, 7/29/2029		202,000		182,639
2.75%, 3/19/2030		353,000		316,791
3.90%, 7/18/2032		202,000		194,047

				3,512,747

Biotechnology - 1.4%
AbbVie, Inc.
3.80%, 3/15/2025		853,000		831,018
3.20%, 5/14/2026		252,000		240,036
2.95%, 11/21/2026		606,000		568,481
4.25%, 11/14/2028		252,000		244,731
3.20%, 11/21/2029		757,000		685,702
Biogen, Inc.
4.05%, 9/15/2025		252,000		244,706
Gilead Sciences, Inc.
3.50%, 2/1/2025		502,000		489,166
3.65%, 3/1/2026		283,000		272,922
Regeneron Pharmaceuticals, Inc.
1.75%, 9/15/2030		100,000		79,966

				3,656,728

Building Products - 0.9%
Allegion plc
3.50%, 10/1/2029		152,000		136,212
Carlisle Cos., Inc.
3.75%, 12/1/2027		151,000		142,686
2.75%, 3/1/2030		303,000		259,007
Carrier Global Corp.
2.24%, 2/15/2025		50,000		47,498
2.49%, 2/15/2027		150,000		136,967
2.72%, 2/15/2030		454,000		391,671
Lennox International, Inc.
1.35%, 8/1/2025		151,000		138,175
Masco Corp.
3.50%, 11/15/2027		50,000		46,820
1.50%, 2/15/2028		101,000		86,407
Owens Corning
3.95%, 8/15/2029		323,000		302,381
Trane Technologies Financing Ltd.
5.25%, 3/3/2033		130,000		131,038
Trane Technologies Global Holding Co. Ltd.
3.75%, 8/21/2028		151,000		143,758
Trane Technologies Luxembourg Finance SA
3.50%, 3/21/2026		202,000		193,244

3.80%, 3/21/2029		202,000		190,997

				2,346,861


Investments	Principal Amount ($)		Value ($)
Capital Markets - 5.9%
Ameriprise Financial, Inc.
2.88%, 9/15/2026		101,000		94,397
Ares Capital Corp.
3.88%, 1/15/2026		100,000		93,399
2.15%, 7/15/2026		50,000		43,802
Bain Capital Specialty Finance, Inc.
2.55%, 10/13/2026		177,000		153,409
Bank of New York Mellon Corp. (The)
2.10%, 10/24/2024		252,000		242,110
3.35%, 4/25/2025		252,000		242,571
2.45%, 8/17/2026		303,000		281,554
5.83%, 10/25/2033(b)		150,000		155,344
4.71%, 2/1/2034(b)		100,000		95,374
BlackRock TCP Capital Corp.
2.85%, 2/9/2026		200,000		180,504
BlackRock, Inc.
3.20%, 3/15/2027		101,000		96,242
3.25%, 4/30/2029		101,000		94,285
Blackstone Private Credit Fund
2.63%, 12/15/2026		352,000		302,028
3.25%, 3/15/2027		525,000		457,080
4.00%, 1/15/2029		100,000		85,993
Blackstone Secured Lending Fund
3.63%, 1/15/2026		500,000		462,834
2.75%, 9/16/2026		252,000		221,735
2.13%, 2/15/2027		252,000		213,283
Blue Owl Technology Finance Corp.
2.50%, 1/15/2027		100,000		83,864
Brookfield Finance, Inc.
4.85%, 3/29/2029		100,000		96,333
Cboe Global Markets, Inc.
3.65%, 1/12/2027		151,000		144,749
1.63%, 12/15/2030		151,000		119,788
Charles Schwab Corp. (The)
4.20%, 3/24/2025		303,000		296,436
0.90%, 3/11/2026		50,000		44,420
1.15%, 5/13/2026		50,000		44,462
3.20%, 1/25/2028		100,000		91,495
4.00%, 2/1/2029		303,000		287,710
4.63%, 3/22/2030		50,000		48,977
1.65%, 3/11/2031		100,000		77,143
CME Group, Inc.
3.00%, 3/15/2025		227,000		219,256
3.75%, 6/15/2028		301,000		290,304
Credit Suisse AG
3.70%, 2/21/2025		303,000		291,193
1.25%, 8/7/2026		154,000		134,095
Deutsche Bank AG
4.50%, 4/1/2025		303,000		291,904
3.96%, 11/26/2025(b)		101,000		97,258
2.13%, 11/24/2026(b)		252,000		228,334
5.88%, 7/8/2031(b)		252,000		229,531
3.55%, 9/18/2031(b)		202,000		169,780
4.88%, 12/1/2032(b)		303,000		265,896


Investments	Principal Amount ($)		Value ($)
7.08%, 2/10/2034(b)		200,000		192,649
FactSet Research Systems, Inc.
2.90%, 3/1/2027		50,000		46,121
3.45%, 3/1/2032		100,000		85,886
Goldman Sachs BDC, Inc.
3.75%, 2/10/2025		151,000		145,092
2.88%, 1/15/2026		50,000		46,236
Goldman Sachs Group, Inc. (The)
3.50%, 1/23/2025		318,000		307,825
3.50%, 4/1/2025		143,000		137,924
3.27%, 9/29/2025(b)		202,000		195,914
3.50%, 11/16/2026		50,000		47,155
1.43%, 3/9/2027(b)		151,000		135,400
1.95%, 10/21/2027(b)		553,000		493,232
4.48%, 8/23/2028(b)		133,000		128,710
4.22%, 5/1/2029(b)		150,000		142,248
2.62%, 4/22/2032(b)		303,000		248,535
2.38%, 7/21/2032(b)		101,000		80,704
2.65%, 10/21/2032(b)		250,000		203,016
3.10%, 2/24/2033(b)		303,000		255,321
Moody’s Corp.
3.75%, 3/24/2025		100,000		97,267
3.25%, 1/15/2028		140,000		130,668
4.25%, 2/1/2029		252,000		242,568
Morgan Stanley
3.70%, 10/23/2024		101,000		98,754
4.00%, 7/23/2025		50,000		48,698
1.16%, 10/21/2025(b)		50,000		46,993
3.88%, 1/27/2026		252,000		243,120
2.19%, 4/28/2026(b)		252,000		237,099
3.13%, 7/27/2026		151,000		141,778
4.35%, 9/8/2026		202,000		195,195
0.98%, 12/10/2026(b)		200,000		178,944
5.05%, 1/28/2027(b)		200,000		197,996
1.59%, 5/4/2027(b)		202,000		181,227
1.51%, 7/20/2027(b)		153,000		135,924
4.21%, 4/20/2028(b)		202,000		194,065
5.12%, 2/1/2029(b)		200,000		197,963
5.16%, 4/20/2029(b)		200,000		197,893
4.43%, 1/23/2030(b)		143,000		136,495
2.70%, 1/22/2031(b)		200,000		170,652
3.62%, 4/1/2031(b)		153,000		137,509
2.24%, 7/21/2032(b)		200,000		159,102
6.34%, 10/18/2033(b)		123,000		130,783
5.25%, 4/21/2034(b)		100,000		98,714
2.48%, 9/16/2036(b)		100,000		76,660
5.30%, 4/20/2037(b)		143,000		135,706
5.95%, 1/19/2038(b)		200,000		198,957
Nasdaq, Inc.
1.65%, 1/15/2031		101,000		79,182
Nomura Holdings, Inc.
1.85%, 7/16/2025		303,000		279,405
2.68%, 7/16/2030		200,000		162,832
Oaktree Specialty Lending Corp.
3.50%, 2/25/2025		100,000		95,041
S&P Global, Inc.
2.70%, 3/1/2029		252,000		226,983


Investments	Principal Amount ($)		Value ($)
2.50%, 12/1/2029		50,000		43,791
1.25%, 8/15/2030		100,000		78,676
2.90%, 3/1/2032		310,000		268,131
State Street Corp.
3.55%, 8/18/2025		303,000		294,692
3.03%, 11/1/2034(b)		200,000		172,919
Stifel Financial Corp.
4.00%, 5/15/2030		101,000		86,961
UBS Group AG
4.55%, 4/17/2026		250,000		242,409

				16,002,592

Chemicals - 0.6%
Celanese US Holdings LLC
6.33%, 7/15/2029		150,000		150,558
6.38%, 7/15/2032		1,000		1,011
Dow Chemical Co. (The)
7.38%, 11/1/2029		202,000		224,045
EIDP, Inc.
4.50%, 5/15/2026		250,000		245,455
4.80%, 5/15/2033		150,000		145,640
FMC Corp.
3.20%, 10/1/2026		151,000		139,789
Huntsman International LLC
4.50%, 5/1/2029		252,000		233,991
Linde, Inc.
4.70%, 12/5/2025		202,000		201,800
RPM International, Inc.
4.55%, 3/1/2029		100,000		94,565
Sherwin-Williams Co. (The)
2.95%, 8/15/2029		101,000		89,909

				1,526,763

Commercial Services & Supplies - 0.6%
Cintas Corp. No. 2
3.70%, 4/1/2027		200,000		192,759
4.00%, 5/1/2032		140,000		132,488
RELX Capital, Inc.
4.00%, 3/18/2029		252,000		241,535
3.00%, 5/22/2030		202,000		179,205
4.75%, 5/20/2032		100,000		97,605
Republic Services, Inc.
3.95%, 5/15/2028		151,000		145,251
4.88%, 4/1/2029		100,000		99,627
Waste Management, Inc.
0.75%, 11/15/2025		152,000		138,012
1.15%, 3/15/2028		162,000		138,012
4.63%, 2/15/2030		151,000		149,030
4.63%, 2/15/2033		250,000		244,600

				1,758,124

Communications Equipment - 0.4%
Juniper Networks, Inc.
1.20%, 12/10/2025		50,000		45,036
3.75%, 8/15/2029		151,000		138,166
Motorola Solutions, Inc.
4.60%, 2/23/2028		201,000		195,280
4.60%, 5/23/2029		303,000		294,481
2.30%, 11/15/2030		252,000		202,696
2.75%, 5/24/2031		200,000		163,790


Investments	Principal Amount ($)		Value ($)
Nokia OYJ
4.38%, 6/12/2027		50,000		47,201

				1,086,650

Consumer Finance - 1.5%
AerCap Ireland Capital DAC
1.65%, 10/29/2024		202,000		190,871
1.75%, 1/30/2026		553,000		499,598
3.30%, 1/30/2032		150,000		123,077
Ally Financial, Inc.
8.00%, 11/1/2031		202,000		214,322
American Express Co.
3.00%, 10/30/2024		50,000		48,483
2.25%, 3/4/2025		252,000		239,346
2.55%, 3/4/2027		303,000		276,705
3.30%, 5/3/2027		200,000		187,359
4.99%, 5/26/2033(b)		76,000		72,804
Capital One Financial Corp.
3.30%, 10/30/2024		352,000		339,975
5.82%, 2/1/2034(b)		121,000		117,585
Caterpillar Financial Services Corp.
3.40%, 5/13/2025		250,000		242,562
Synchrony Financial
4.25%, 8/15/2024		505,000		493,348
4.88%, 6/13/2025		151,000		145,903
4.50%, 7/23/2025		303,000		288,316
3.70%, 8/4/2026		140,000		128,206
3.95%, 12/1/2027		202,000		180,265
5.15%, 3/19/2029		202,000		188,875

				3,977,600

Consumer Staples Distribution & Retail - 0.4%
Costco Wholesale Corp.
1.60%, 4/20/2030		200,000		165,955
1.75%, 4/20/2032		170,000		136,318
Dollar General Corp.
3.50%, 4/3/2030		202,000		181,947
Dollar Tree, Inc.
4.00%, 5/15/2025		200,000		194,165
Kroger Co. (The)
7.50%, 4/1/2031		150,000		170,073
Sysco Corp.
5.95%, 4/1/2030		200,000		208,582
Walmart, Inc.
4.10%, 4/15/2033		50,000		48,291

				1,105,331

Containers & Packaging - 0.2%
Amcor Finance USA, Inc.
4.50%, 5/15/2028		252,000		239,628
Avery Dennison Corp.
4.88%, 12/6/2028		151,000		148,895
Packaging Corp. of America
3.00%, 12/15/2029		278,000		243,993

				632,516

Distributors - 0.1%
Genuine Parts Co.
1.75%, 2/1/2025		151,000		142,519
2.75%, 2/1/2032		100,000		82,179

LKQ Corp.
6.25%, 6/15/2033(d)		150,000		150,979

				375,677


Investments	Principal Amount ($)		Value ($)
Diversified REITs - 1.3%
GLP Capital LP
REIT, 3.35%, 9/1/2024		50,000		48,493
REIT, 5.25%, 6/1/2025		303,000		298,201
REIT, 5.38%, 4/15/2026		353,000		346,420
REIT, 5.75%, 6/1/2028		300,000		293,950
REIT, 5.30%, 1/15/2029		150,000		143,126
REIT, 4.00%, 1/15/2030		150,000		130,813
REIT, 3.25%, 1/15/2032		250,000		204,100
Rayonier LP
REIT, 2.75%, 5/17/2031		100,000		79,796
Simon Property Group LP
REIT, 3.38%, 10/1/2024		302,000		294,123
STORE Capital Corp.
REIT, 4.50%, 3/15/2028		100,000		88,165
REIT, 4.63%, 3/15/2029		141,000		120,050
VICI Properties LP
REIT, 4.38%, 5/15/2025		50,000		48,618
REIT, 4.75%, 2/15/2028		505,000		481,403
REIT, 4.95%, 2/15/2030		303,000		286,683
REIT, 5.13%, 5/15/2032		150,000		141,151
Vornado Realty LP
REIT, 2.15%, 6/1/2026		160,000		136,100
WP Carey, Inc.
REIT, 4.00%, 2/1/2025		101,000		98,259
REIT, 3.85%, 7/15/2029		150,000		135,733
REIT, 2.40%, 2/1/2031		100,000		80,522

				3,455,706

Diversified Telecommunication Services - 0.5%
Koninklijke KPN NV
8.38%, 10/1/2030		101,000		116,320
Orange SA
9.00%, 3/1/2031(a)		325,000		396,572
Sprint Capital Corp.
8.75%, 3/15/2032		202,000		243,386
Verizon Communications, Inc.
4.02%, 12/3/2029		252,000		234,770
2.55%, 3/21/2031		252,000		209,180
2.36%, 3/15/2032		151,000		120,577

				1,320,805

Electric Utilities - 1.6%
American Electric Power Co., Inc.
3.88%, 2/15/2062(b)		101,000		81,495
Arizona Public Service Co.
2.60%, 8/15/2029		252,000		218,707
Avangrid, Inc.
3.15%, 12/1/2024		50,000		48,147
3.20%, 4/15/2025		251,000		239,547
3.80%, 6/1/2029		303,000		277,550
Duke Energy Corp.
3.25%, 1/15/2082(b)		101,000		74,646
Evergy, Inc.
2.90%, 9/15/2029		77,000		67,208


Investments	Principal Amount ($)		Value ($)
Fortis, Inc.
3.06%, 10/4/2026		151,000		139,920
Interstate Power and Light Co.
3.60%, 4/1/2029		252,000		231,728
MidAmerican Energy Co.
3.65%, 4/15/2029		303,000		282,835
Nevada Power Co.
Series CC, 3.70%, 5/1/2029		252,000		233,998
NextEra Energy Capital Holdings, Inc.
4.80%, 12/1/2077(b)		101,000		89,395
5.65%, 5/1/2079(b)		177,000		164,650
3.80%, 3/15/2082(b)		200,000		169,537
Oklahoma Gas and Electric Co.
3.25%, 4/1/2030		200,000		178,443
Pacific Gas and Electric Co.
4.55%, 7/1/2030		400,000		363,326
PacifiCorp
3.50%, 6/15/2029		250,000		225,622
PPL Capital Funding, Inc.
4.13%, 4/15/2030		303,000		281,835
PPL Electric Utilities Corp.
5.00%, 5/15/2033		200,000		199,721
Sierra Pacific Power Co.
2.60%, 5/1/2026		20,000		18,640
Southern Co. (The)
Series B, 4.00%, 1/15/2051(b)		142,000		132,805
Series 21-A, 3.75%, 9/15/2051(b)		252,000		217,378
Xcel Energy, Inc.
1.75%, 3/15/2027		50,000		44,340
2.60%, 12/1/2029		101,000		86,849
3.40%, 6/1/2030		50,000		44,562
2.35%, 11/15/2031		100,000		79,488

				4,192,372

Electrical Equipment - 0.2%
Emerson Electric Co.
2.00%, 12/21/2028		101,000		87,866
Hubbell, Inc.
3.35%, 3/1/2026		151,000		143,514
3.50%, 2/15/2028		200,000		187,118
Regal Rexnord Corp.
6.30%, 2/15/2030(d)		100,000		99,836

				518,334

Electronic Equipment, Instruments & Components - 1.7%
Amphenol Corp.
4.75%, 3/30/2026		150,000		148,727
4.35%, 6/1/2029		353,000		341,324
2.80%, 2/15/2030		301,000		264,010
Avnet, Inc.
4.63%, 4/15/2026		126,000		121,853
CDW LLC
5.50%, 12/1/2024		50,000		49,635
2.67%, 12/1/2026		404,000		365,288
4.25%, 4/1/2028		202,000		186,654
3.28%, 12/1/2028		152,000		132,727


Investments	Principal Amount ($)		Value ($)
3.25%, 2/15/2029		200,000		174,438
3.57%, 12/1/2031		200,000		169,286
Flex Ltd.
6.00%, 1/15/2028		200,000		203,126
4.88%, 6/15/2029		202,000		193,522
4.88%, 5/12/2030		102,000		98,443
Jabil, Inc.
4.25%, 5/15/2027		252,000		241,221
3.60%, 1/15/2030		252,000		226,818
Keysight Technologies, Inc.
4.60%, 4/6/2027		404,000		398,189
TD SYNNEX Corp.
2.38%, 8/9/2028		202,000		166,410
Teledyne Technologies, Inc.
2.25%, 4/1/2028		157,000		137,732
2.75%, 4/1/2031		200,000		167,766
Trimble, Inc.
4.90%, 6/15/2028		252,000		246,848
Tyco Electronics Group SA
4.50%, 2/13/2026		200,000		197,080
3.70%, 2/15/2026		151,000		146,061
Vontier Corp.
2.40%, 4/1/2028		252,000		213,550

				4,590,708

Energy Equipment & Services - 0.0%(e)
Baker Hughes Holdings LLC
3.14%, 11/7/2029		152,000		135,854

Entertainment - 0.4%
Activision Blizzard, Inc.
3.40%, 9/15/2026		50,000		47,757
3.40%, 6/15/2027		152,000		143,983
1.35%, 9/15/2030		200,000		160,905
Electronic Arts, Inc.
4.80%, 3/1/2026		50,000		49,538
Netflix, Inc.
4.88%, 4/15/2028		250,000		246,930
5.88%, 11/15/2028		454,000		467,727

				1,116,840

Financial Services - 2.9%
Berkshire Hathaway, Inc.
3.13%, 3/15/2026		200,000		192,136
Block Financial LLC
2.50%, 7/15/2028		353,000		300,135
3.88%, 8/15/2030		150,000		131,221
Corebridge Financial, Inc.
3.50%, 4/4/2025		140,000		134,353
Fidelity National Information Services, Inc.
1.65%, 3/1/2028		200,000		171,241
Fiserv, Inc.
3.20%, 7/1/2026		650,000		614,680
4.20%, 10/1/2028		301,000		289,041
3.50%, 7/1/2029		1,111,000		1,022,310
5.60%, 3/2/2033		250,000		254,517
Global Payments, Inc.
2.65%, 2/15/2025		150,000		142,984
4.45%, 6/1/2028		111,000		105,154
3.20%, 8/15/2029		100,000		88,115
5.30%, 8/15/2029		222,000		217,810
Mastercard, Inc.
2.00%, 3/3/2025		101,000		96,261
2.95%, 11/21/2026		50,000		47,278
3.30%, 3/26/2027		353,000		337,305
2.95%, 6/1/2029		401,000		366,721
3.35%, 3/26/2030		353,000		327,153
2.00%, 11/18/2031		100,000		82,578
4.85%, 3/9/2033		200,000		203,529
PayPal Holdings, Inc.
1.65%, 6/1/2025		200,000		187,531
Radian Group, Inc.
4.50%, 10/1/2024		101,000		98,430
6.63%, 3/15/2025		101,000		100,782
4.88%, 3/15/2027		303,000		289,216
Synchrony Bank
5.40%, 8/22/2025		252,000		242,702
5.63%, 8/23/2027		404,000		383,515
Visa, Inc.
3.15%, 12/14/2025		252,000		241,555
1.90%, 4/15/2027		527,000		478,650
2.75%, 9/15/2027		300,000		278,750


Investments	Principal Amount ($)		Value ($)
Voya Financial, Inc.
4.70%, 1/23/2048(b)		101,000		81,996
Western Union Co. (The)
2.85%, 1/10/2025		143,000		136,521
2.75%, 3/15/2031		150,000		118,610

				7,762,780

Food Products - 1.4%
Campbell Soup Co.
4.15%, 3/15/2028		301,000		289,576
Conagra Brands, Inc.
4.85%, 11/1/2028		100,000		97,656
Flowers Foods, Inc.
3.50%, 10/1/2026		350,000		328,339
General Mills, Inc.
4.20%, 4/17/2028		142,000		137,266
2.88%, 4/15/2030		152,000		133,918
4.95%, 3/29/2033		150,000		148,246
Hershey Co. (The)
0.90%, 6/1/2025		351,000		325,317
4.25%, 5/4/2028		200,000		197,945
Hormel Foods Corp.
1.70%, 6/3/2028		351,000		305,240
J M Smucker Co. (The)
3.50%, 3/15/2025		50,000		48,414
2.38%, 3/15/2030		250,000		211,777
Kellogg Co.
Series B, 7.45%, 4/1/2031		252,000		286,865
Mondelez International, Inc.
2.63%, 3/17/2027		202,000		186,218
2.75%, 4/13/2030		93,000		81,230
1.50%, 2/4/2031		100,000		78,445
Unilever Capital Corp.
2.90%, 5/5/2027		151,000		141,516
3.50%, 3/22/2028		342,000		328,112
2.13%, 9/6/2029		505,000		440,030

				3,766,110


Investments	Principal Amount ($)		Value ($)
Gas Utilities - 0.3%
Atmos Energy Corp.
2.63%, 9/15/2029		200,000		176,849
Eastern Energy Gas Holdings LLC
Series A, 2.50%, 11/15/2024		50,000		47,926
3.60%, 12/15/2024		55,000		53,265
National Fuel Gas Co.
5.20%, 7/15/2025		151,000		148,136
5.50%, 1/15/2026		278,000		274,446
4.75%, 9/1/2028		101,000		95,689
Southern California Gas Co.
Series XX, 2.55%, 2/1/2030		50,000		42,966
5.20%, 6/1/2033		100,000		99,039

				938,316

Ground Transportation - 0.5%
Canadian National Railway Co.
2.75%, 3/1/2026		251,000		236,780
3.85%, 8/5/2032		200,000		186,009
CSX Corp.
3.35%, 11/1/2025		200,000		192,849
3.25%, 6/1/2027		50,000		47,171
3.80%, 3/1/2028		101,000		96,637
4.25%, 3/15/2029		102,000		99,404
JB Hunt Transport Services, Inc.
3.88%, 3/1/2026		50,000		48,451
Norfolk Southern Corp.
3.15%, 6/1/2027		202,000		189,059
2.55%, 11/1/2029		150,000		130,525
Union Pacific Corp.
2.38%, 5/20/2031		100,000		84,507

				1,311,392

Health Care Equipment & Supplies - 0.6%
Boston Scientific Corp.
1.90%, 6/1/2025		250,000		234,974
DH Europe Finance II Sarl
2.20%, 11/15/2024		252,000		241,989
2.60%, 11/15/2029		152,000		134,930
Edwards Lifesciences Corp.
4.30%, 6/15/2028		150,000		145,428
Stryker Corp.
1.15%, 6/15/2025		402,000		372,447
3.38%, 11/1/2025		200,000		192,070
1.95%, 6/15/2030		50,000		41,718
Zimmer Biomet Holdings, Inc.
3.55%, 4/1/2025		200,000		193,588

				1,557,144

Health Care Providers & Services - 1.9%
AmerisourceBergen Corp.
3.45%, 12/15/2027		111,000		104,295
2.80%, 5/15/2030		404,000		350,734
Cardinal Health, Inc.
3.41%, 6/15/2027		304,000		285,309


Investments	Principal Amount ($)		Value ($)
Centene Corp.
4.63%, 12/15/2029		252,000		234,292
2.50%, 3/1/2031		222,000		177,633
Cigna Group (The)
2.38%, 3/15/2031		76,000		63,200
Elevance Health, Inc.
2.88%, 9/15/2029		200,000		177,829
HCA, Inc.
5.38%, 2/1/2025		200,000		198,814
3.63%, 3/15/2032(d)		202,000		175,533
Humana, Inc.
3.85%, 10/1/2024		50,000		48,921
1.35%, 2/3/2027		404,000		353,760
5.75%, 3/1/2028		50,000		51,036
3.70%, 3/23/2029		202,000		187,055
4.88%, 4/1/2030		50,000		48,745
Laboratory Corp. of America Holdings
2.30%, 12/1/2024		150,000		143,241
3.60%, 2/1/2025		50,000		48,565
1.55%, 6/1/2026		252,000		227,203
2.95%, 12/1/2029		200,000		175,945
McKesson Corp.
1.30%, 8/15/2026		252,000		225,455
5.10%, 7/15/2033		130,000		130,425
Quest Diagnostics, Inc.
3.50%, 3/30/2025		200,000		193,478
2.95%, 6/30/2030		102,000		89,326
UnitedHealth Group, Inc.
2.38%, 8/15/2024		50,000		48,442
2.95%, 10/15/2027		452,000		420,377
4.25%, 1/15/2029		300,000		292,657
4.00%, 5/15/2029		200,000		192,558
2.88%, 8/15/2029		202,000		183,193
5.30%, 2/15/2030		200,000		205,197
5.35%, 2/15/2033		101,000		104,633

				5,137,851

Health Care REITs - 0.6%
National Health Investors, Inc.
REIT, 3.00%, 2/1/2031		100,000		77,997
Omega Healthcare Investors, Inc.
REIT, 5.25%, 1/15/2026		252,000		245,982
REIT, 4.50%, 4/1/2027		101,000		95,518
REIT, 4.75%, 1/15/2028		101,000		94,410
REIT, 3.63%, 10/1/2029		151,000		126,269
REIT, 3.38%, 2/1/2031		150,000		120,507
REIT, 3.25%, 4/15/2033		100,000		75,816
Physicians Realty LP
REIT, 4.30%, 3/15/2027		151,000		143,152
Sabra Health Care LP
REIT, 5.13%, 8/15/2026		202,000		194,600
REIT, 3.90%, 10/15/2029		151,000		124,980
Ventas Realty LP
REIT, 3.50%, 2/1/2025		50,000		48,022
Welltower OP LLC
REIT, 4.00%, 6/1/2025		202,000		195,651

				1,542,904


Investments	Principal Amount ($)		Value ($)
Hotel & Resort REITs - 0.2%
Host Hotels & Resorts LP
Series E, REIT, 4.00%, 6/15/2025		100,000		96,518
Series H, REIT, 3.38%, 12/15/2029		303,000		260,841
Series J, REIT, 2.90%, 12/15/2031		150,000		118,920

				476,279

Hotels, Restaurants & Leisure - 1.4%
Booking Holdings, Inc.
3.60%, 6/1/2026		50,000		48,242
4.63%, 4/13/2030		300,000		294,094
Choice Hotels International, Inc.
3.70%, 12/1/2029		252,000		223,634
Marriott International, Inc.
Series EE, 5.75%, 5/1/2025		12,000		12,062
Series R, 3.13%, 6/15/2026		150,000		141,332
5.00%, 10/15/2027		303,000		301,317
Series X, 4.00%, 4/15/2028		252,000		238,344
4.90%, 4/15/2029		252,000		247,152
Series FF, 4.63%, 6/15/2030		202,000		193,077
Series HH, 2.85%, 4/15/2031		100,000		84,660
Series GG, 3.50%, 10/15/2032		100,000		86,537
McDonald’s Corp.
3.70%, 1/30/2026		410,000		396,629
3.50%, 3/1/2027		200,000		190,675
3.50%, 7/1/2027		404,000		385,250
3.80%, 4/1/2028		341,000		327,677
2.63%, 9/1/2029		101,000		89,826
2.13%, 3/1/2030		251,000		213,085
3.60%, 7/1/2030		252,000		233,690
4.60%, 9/9/2032		130,000		128,500

				3,835,783

Household Durables - 0.8%
DR Horton, Inc.
2.50%, 10/15/2024		402,000		387,336
2.60%, 10/15/2025		50,000		47,141
1.30%, 10/15/2026		300,000		264,940
Lennar Corp.
4.75%, 5/30/2025		50,000		49,079
5.25%, 6/1/2026		200,000		198,376
4.75%, 11/29/2027		414,000		403,210
NVR, Inc.
3.00%, 5/15/2030		252,000		218,063
PulteGroup, Inc.
5.50%, 3/1/2026		141,000		140,442
5.00%, 1/15/2027		101,000		99,577
6.38%, 5/15/2033		150,000		158,097
Toll Brothers Finance Corp.
4.88%, 3/15/2027		303,000		295,577

				2,261,838


Investments	Principal Amount ($)		Value ($)
Household Products - 0.6%
Church & Dwight Co., Inc.
5.60%, 11/15/2032		100,000		104,797
Clorox Co. (The)
3.90%, 5/15/2028		200,000		191,247
Colgate-Palmolive Co.
3.10%, 8/15/2025		350,000		337,869
Kimberly-Clark Corp.
3.10%, 3/26/2030		252,000		229,211
Procter & Gamble Co. (The)
2.45%, 11/3/2026		252,000		236,006
2.80%, 3/25/2027		96,000		90,261
3.00%, 3/25/2030		404,000		372,065

				1,561,456

Industrial Conglomerates - 0.8%
3M Co.
3.38%, 3/1/2029		202,000		186,150
2.38%, 8/26/2029		300,000		260,134
Honeywell International, Inc.
2.30%, 8/15/2024		50,000		48,442
1.35%, 6/1/2025		654,000		613,946
2.50%, 11/1/2026		252,000		235,567
1.10%, 3/1/2027		50,000		44,246
4.25%, 1/15/2029		101,000		98,765
2.70%, 8/15/2029		300,000		268,058
5.00%, 2/15/2033		260,000		264,192
Pentair Finance Sarl
4.50%, 7/1/2029		100,000		94,557

				2,114,057

Industrial REITs - 0.1%
Prologis LP
REIT, 2.25%, 4/15/2030		202,000		171,379

Insurance - 3.7%
Aflac, Inc.
3.60%, 4/1/2030		302,000		276,679
Allied World Assurance Co. Holdings Ltd.
4.35%, 10/29/2025		100,000		96,299
Allstate Corp. (The)
0.75%, 12/15/2025		301,000		270,828
American International Group, Inc.
Series A-9, 5.75%, 4/1/2048(b)		202,000		194,923
Aon Corp.
8.21%, 1/1/2027		100,000		108,048
2.85%, 5/28/2027		453,000		417,395
4.50%, 12/15/2028		150,000		145,732
3.75%, 5/2/2029		152,000		141,880
2.80%, 5/15/2030		202,000		174,905
2.05%, 8/23/2031		50,000		39,903
2.60%, 12/2/2031		100,000		82,893
5.35%, 2/28/2033		100,000		100,937
Aon Global Ltd.
3.88%, 12/15/2025		101,000		98,008
Arthur J Gallagher & Co.
5.50%, 3/2/2033		150,000		151,073


Investments	Principal Amount ($)		Value ($)
Assurant, Inc.
3.70%, 2/22/2030		101,000		86,613
2.65%, 1/15/2032		100,000		75,005
Athene Holding Ltd.
4.13%, 1/12/2028		500,000		463,337
6.65%, 2/1/2033		100,000		101,944
AXIS Specialty Finance LLC
4.90%, 1/15/2040(b)		202,000		161,833
Brown & Brown, Inc.
4.20%, 9/15/2024		151,000		148,132
2.38%, 3/15/2031		252,000		203,872
Chubb INA Holdings, Inc.
3.15%, 3/15/2025		500,000		483,214
CNO Financial Group, Inc.
5.25%, 5/30/2029		100,000		96,030
Enstar Finance LLC
5.50%, 1/15/2042(b)		100,000		77,628
Enstar Group Ltd.
4.95%, 6/1/2029		202,000		189,241
F&G Annuities & Life, Inc.
7.40%, 1/13/2028(d)		150,000		150,586
Fairfax Financial Holdings Ltd.
4.85%, 4/17/2028		252,000		244,899
4.63%, 4/29/2030		100,000		92,919
Fidelity National Financial, Inc.
3.40%, 6/15/2030		150,000		131,691
First American Financial Corp.
4.60%, 11/15/2024		202,000		197,072
2.40%, 8/15/2031		100,000		76,083
Globe Life, Inc.
4.55%, 9/15/2028		101,000		97,806
4.80%, 6/15/2032		100,000		95,068
Hanover Insurance Group, Inc. (The)
2.50%, 9/1/2030		200,000		158,253
Hartford Financial Services Group, Inc. (The)
2.80%, 8/19/2029		202,000		177,475
Manulife Financial Corp.
4.15%, 3/4/2026		202,000		196,947
2.48%, 5/19/2027		202,000		185,376
4.06%, 2/24/2032(b)		151,000		141,550
Markel Group, Inc.
3.35%, 9/17/2029		200,000		180,226
Marsh & McLennan Cos., Inc.
3.50%, 3/10/2025		76,000		73,838
4.38%, 3/15/2029		505,000		493,239
2.25%, 11/15/2030		116,000		96,598
Old Republic International Corp.
4.88%, 10/1/2024		101,000		99,381
3.88%, 8/26/2026		101,000		95,437
Primerica, Inc.
2.80%, 11/19/2031		150,000		124,416
Principal Financial Group, Inc.
3.70%, 5/15/2029		200,000		184,163
5.38%, 3/15/2033		100,000		99,872
Progressive Corp. (The)
3.20%, 3/26/2030		101,000		90,543
4.95%, 6/15/2033		150,000		148,564


Investments	Principal Amount ($)		Value ($)
Prudential Financial, Inc.
5.38%, 5/15/2045(b)		252,000		248,243
3.70%, 10/1/2050(b)		101,000		86,240
6.00%, 9/1/2052(b)		100,000		95,965
Reinsurance Group of America, Inc.
3.90%, 5/15/2029		202,000		184,893
RenaissanceRe Holdings Ltd.
3.60%, 4/15/2029		200,000		180,025
Trinity Acquisition plc
4.40%, 3/15/2026		151,000		145,645
Willis North America, Inc.
4.65%, 6/15/2027		301,000		291,937
4.50%, 9/15/2028		140,000		133,803
2.95%, 9/15/2029		454,000		394,527
5.35%, 5/15/2033		140,000		136,367

				9,915,999

Interactive Media & Services - 0.5%
Meta Platforms, Inc.
3.50%, 8/15/2027		353,000		337,194
4.60%, 5/15/2028		200,000		199,381
3.85%, 8/15/2032		281,000		261,500
4.95%, 5/15/2033		450,000		453,149
Weibo Corp.
3.38%, 7/8/2030		252,000		204,450

				1,455,674

IT Services - 0.5%
CGI, Inc.
1.45%, 9/14/2026		101,000		89,224
Genpact Luxembourg Sarl
3.38%, 12/1/2024		352,000		338,656
International Business Machines Corp.
4.15%, 7/27/2027		142,000		138,267
3.50%, 5/15/2029		505,000		468,578
1.95%, 5/15/2030		100,000		82,737
VeriSign, Inc.
5.25%, 4/1/2025		250,000		247,973
4.75%, 7/15/2027		101,000		99,809

				1,465,244

Life Sciences Tools & Services - 0.1%
Agilent Technologies, Inc.
2.75%, 9/15/2029		152,000		132,288
2.30%, 3/12/2031		201,000		165,272

				297,560

Machinery - 1.2%
Cummins, Inc.
1.50%, 9/1/2030		151,000		122,084
Dover Corp.
3.15%, 11/15/2025		151,000		143,240
Fortive Corp.
3.15%, 6/15/2026		251,000		236,612
IDEX Corp.
2.63%, 6/15/2031		200,000		166,610
Illinois Tool Works, Inc.
2.65%, 11/15/2026		302,000		283,671
nVent Finance Sarl
4.55%, 4/15/2028		252,000		239,646
5.65%, 5/15/2033		100,000		98,120


Investments	Principal Amount ($)		Value ($)
Oshkosh Corp.
4.60%, 5/15/2028		200,000		196,254
Otis Worldwide Corp.
2.06%, 4/5/2025		302,000		285,473
2.29%, 4/5/2027		200,000		182,440
2.57%, 2/15/2030		303,000		261,089
Stanley Black & Decker, Inc.
4.00%, 3/15/2060(b)		100,000		76,508
Westinghouse Air Brake Technologies Corp.
3.45%, 11/15/2026		300,000		282,631
4.95%, 9/15/2028(a)		454,000		442,002
Xylem, Inc.
3.25%, 11/1/2026		350,000		330,318

				3,346,698

Media - 0.3%
Charter Communications Operating LLC
4.91%, 7/23/2025		100,000		98,231
Comcast Corp.
1.50%, 2/15/2031		152,000		120,401
Fox Corp.
4.71%, 1/25/2029		252,000		244,483
3.50%, 4/8/2030		102,000		91,555
Interpublic Group of Cos., Inc. (The)
4.75%, 3/30/2030		202,000		194,484
Omnicom Group, Inc.
4.20%, 6/1/2030		200,000		186,656

				935,810

Metals & Mining - 1.1%
AngloGold Ashanti Holdings plc
3.38%, 11/1/2028		252,000		223,187
ArcelorMittal SA
6.55%, 11/29/2027		452,000		467,114
4.25%, 7/16/2029		202,000		192,532
BHP Billiton Finance USA Ltd.
4.75%, 2/28/2028		300,000		298,908
Nucor Corp.
4.30%, 5/23/2027		252,000		245,289
Reliance Steel & Aluminum Co.
1.30%, 8/15/2025		252,000		231,431
Rio Tinto Alcan, Inc.
7.25%, 3/15/2031		50,000		56,995
Rio Tinto Finance USA Ltd.
7.13%, 7/15/2028		172,000		188,696
Steel Dynamics, Inc.
2.80%, 12/15/2024		351,000		335,965
3.45%, 4/15/2030		252,000		224,346
Vale Overseas Ltd.
3.75%, 7/8/2030		305,000		271,576
6.13%, 6/12/2033		150,000		150,757

				2,886,796

Multi-Utilities - 2.4%
Ameren Corp.
3.65%, 2/15/2026		303,000		289,166
1.75%, 3/15/2028		152,000		131,829
Berkshire Hathaway Energy Co.
4.05%, 4/15/2025		804,000		786,544
3.25%, 4/15/2028		200,000		184,751


Investments	Principal Amount ($)		Value ($)
3.70%, 7/15/2030		303,000		278,507
Black Hills Corp.
1.04%, 8/23/2024		50,000		47,495
5.95%, 3/15/2028		302,000		308,382
CenterPoint Energy, Inc.
2.95%, 3/1/2030		152,000		132,658
CMS Energy Corp.
4.75%, 6/1/2050(b)		203,000		178,404
Consolidated Edison Co. of New York, Inc.
Series 20A, 3.35%, 4/1/2030		252,000		228,867
Dominion Energy, Inc.
5.75%, 10/1/2054(b)		202,000		194,624
DTE Energy Co.
Series C, 2.53%, 10/1/2024(a)		50,000		48,128
4.88%, 6/1/2028		300,000		296,328
Series C, 3.40%, 6/15/2029		102,000		91,939
NiSource, Inc.
2.95%, 9/1/2029		101,000		89,794
3.60%, 5/1/2030		300,000		271,030
Public Service Enterprise Group, Inc.
0.80%, 8/15/2025		152,000		138,173
5.85%, 11/15/2027		352,000		360,549
2.45%, 11/15/2031		150,000		120,926
Puget Energy, Inc.
4.10%, 6/15/2030		50,000		45,241
Sempra
3.30%, 4/1/2025		140,000		134,876
3.25%, 6/15/2027		50,000		46,319
3.40%, 2/1/2028		654,000		606,233
3.70%, 4/1/2029		353,000		324,830
4.12%, 4/1/2052(b)		303,000		248,822
WEC Energy Group, Inc.
4.75%, 1/15/2028		350,000		344,333
2.20%, 12/15/2028		505,000		437,468

				6,366,216

Office REITs - 0.5%
Alexandria Real Estate Equities, Inc.
REIT, 3.38%, 8/15/2031		200,000		173,200
Boston Properties LP
REIT, 3.25%, 1/30/2031		192,000		158,259
Brandywine Operating Partnership LP
REIT, 4.10%, 10/1/2024		50,000		48,012
Corporate Office Properties LP
REIT, 2.25%, 3/15/2026		50,000		44,511
REIT, 2.00%, 1/15/2029		303,000		234,412
Highwoods Realty LP
REIT, 4.13%, 3/15/2028		202,000		181,386
REIT, 4.20%, 4/15/2029		101,000		86,273
Hudson Pacific Properties LP
REIT, 5.95%, 2/15/2028		50,000		41,484
Kilroy Realty LP
REIT, 4.38%, 10/1/2025		101,000		94,946
REIT, 4.25%, 8/15/2029		50,000		42,690
REIT, 3.05%, 2/15/2030		313,000		248,675

				1,353,848


Investments	Principal Amount ($)		Value ($)
Oil, Gas & Consumable Fuels - 9.4%
Boardwalk Pipelines LP
5.95%, 6/1/2026		100,000		100,507
4.80%, 5/3/2029		202,000		194,816
3.60%, 9/1/2032		100,000		85,281
BP Capital Markets America, Inc.
4.81%, 2/13/2033		50,000		49,171
Canadian Natural Resources Ltd.
3.85%, 6/1/2027		800,000		758,228
2.95%, 7/15/2030		150,000		128,981
Cenovus Energy, Inc.
2.65%, 1/15/2032		150,000		121,383
Cheniere Corpus Christi Holdings LLC
5.13%, 6/30/2027		50,000		49,477
3.70%, 11/15/2029		303,000		276,483
Cheniere Energy Partners LP
4.50%, 10/1/2029		505,000		469,493
4.00%, 3/1/2031		300,000		266,961
3.25%, 1/31/2032		100,000		83,214
5.95%, 6/30/2033(d)		400,000		404,756
Cheniere Energy, Inc.
4.63%, 10/15/2028		252,000		236,491
Chevron Corp.
1.55%, 5/11/2025		303,000		284,703
2.00%, 5/11/2027		450,000		408,560
Chevron USA, Inc.
0.69%, 8/12/2025		252,000		230,926
3.85%, 1/15/2028		151,000		147,232
3.25%, 10/15/2029		50,000		46,258
ConocoPhillips
5.90%, 10/15/2032		200,000		215,184
ConocoPhillips Co.
6.95%, 4/15/2029		101,000		112,142
Continental Resources, Inc.
4.38%, 1/15/2028		293,000		277,417
Coterra Energy, Inc.
3.90%, 5/15/2027		202,000		192,457
4.38%, 3/15/2029		150,000		141,570
DCP Midstream Operating LP
5.63%, 7/15/2027		252,000		252,833
5.13%, 5/15/2029		50,000		49,018
8.13%, 8/16/2030		152,000		170,592
Devon Energy Corp.
4.50%, 1/15/2030		101,000		95,590
7.95%, 4/15/2032		150,000		172,442
Diamondback Energy, Inc.
3.50%, 12/1/2029		303,000		276,114
3.13%, 3/24/2031		1,000		868
6.25%, 3/15/2033		100,000		104,460
Eastern Gas Transmission & Storage, Inc.
3.00%, 11/15/2029		202,000		176,187
Enbridge, Inc.
5.70%, 3/8/2033		101,000		102,386
Series 16-A, 6.00%, 1/15/2077(b)		150,000		141,694
5.50%, 7/15/2077(b)		100,000		90,343
6.25%, 3/1/2078(b)		202,000		186,952


Investments	Principal Amount ($)		Value ($)
Series 20-A, 5.75%, 7/15/2080(b)		202,000		184,649
Energy Transfer LP
4.20%, 4/15/2027		250,000		239,668
5.50%, 6/1/2027		252,000		251,826
4.95%, 5/15/2028		502,000		491,022
5.25%, 4/15/2029		202,000		200,165
4.15%, 9/15/2029		252,000		233,803
3.75%, 5/15/2030		300,000		271,732
Enterprise Products Operating LLC
3.75%, 2/15/2025		303,000		295,359
3.70%, 2/15/2026		270,000		260,783
3.95%, 2/15/2027		303,000		292,393
4.15%, 10/16/2028		281,000		269,249
3.13%, 7/31/2029		252,000		226,966
2.80%, 1/31/2030		457,000		400,725
5.35%, 1/31/2033		502,000		511,927
Series E, 5.25%, 8/16/2077(b)		202,000		179,259
5.38%, 2/15/2078(b)		251,000		210,665
EOG Resources, Inc.
4.38%, 4/15/2030		202,000		198,043
EQT Corp.
6.13%, 2/1/2025(a)		391,000		391,207
3.90%, 10/1/2027		203,000		190,304
7.00%, 2/1/2030(a)		152,000		159,959
Exxon Mobil Corp.
2.71%, 3/6/2025		151,000		145,317
2.99%, 3/19/2025		650,000		627,349
2.44%, 8/16/2029		252,000		223,216
3.48%, 3/19/2030		400,000		372,803
2.61%, 10/15/2030		101,000		88,148
Hess Corp.
4.30%, 4/1/2027		50,000		48,257
7.88%, 10/1/2029		178,000		197,917
7.30%, 8/15/2031		150,000		165,151
HF Sinclair Corp.
5.88%, 4/1/2026		50,000		50,206
4.50%, 10/1/2030		151,000		136,177
Kinder Morgan, Inc.
7.80%, 8/1/2031		252,000		286,332
Magellan Midstream Partners LP
5.00%, 3/1/2026		202,000		200,371
3.25%, 6/1/2030		200,000		176,194
Marathon Oil Corp.
4.40%, 7/15/2027		151,000		144,604
Marathon Petroleum Corp.
4.70%, 5/1/2025		252,000		248,699
3.80%, 4/1/2028		202,000		189,321
MPLX LP
4.88%, 12/1/2024		101,000		99,714
4.88%, 6/1/2025		404,000		398,651
1.75%, 3/1/2026		252,000		229,924
4.13%, 3/1/2027		252,000		242,169
4.00%, 3/15/2028		101,000		95,491
4.80%, 2/15/2029		100,000		97,047


Investments	Principal Amount ($)		Value ($)
2.65%, 8/15/2030		100,000		84,012
4.95%, 9/1/2032		101,000		96,540
5.00%, 3/1/2033		300,000		288,277
Occidental Petroleum Corp.
8.50%, 7/15/2027		200,000		216,920
8.88%, 7/15/2030		202,000		234,021
6.63%, 9/1/2030		303,000		317,777
6.13%, 1/1/2031		252,000		257,410
7.50%, 5/1/2031		505,000		554,490
7.88%, 9/15/2031		122,000		137,098
ONEOK, Inc.
4.00%, 7/13/2027		250,000		237,949
4.55%, 7/15/2028		150,000		142,827
4.35%, 3/15/2029		252,000		235,337
3.40%, 9/1/2029		200,000		176,096
3.10%, 3/15/2030		309,000		265,535
6.35%, 1/15/2031		50,000		51,498
6.10%, 11/15/2032		150,000		153,189
Phillips 66 Co.
3.61%, 2/15/2025		100,000		97,036
3.55%, 10/1/2026		100,000		94,231
5.30%, 6/30/2033		100,000		99,919
Pioneer Natural Resources Co.
1.13%, 1/15/2026		454,000		411,426
2.15%, 1/15/2031		150,000		122,814
Plains All American Pipeline LP
3.55%, 12/15/2029		252,000		222,673
3.80%, 9/15/2030		101,000		90,464
Sabine Pass Liquefaction LLC
5.00%, 3/15/2027		502,000		497,198
4.50%, 5/15/2030		300,000		284,775
Suncor Energy, Inc.
7.15%, 2/1/2032		150,000		161,348
Targa Resources Corp.
5.20%, 7/1/2027		250,000		248,211
4.20%, 2/1/2033		150,000		133,972
Targa Resources Partners LP
4.88%, 2/1/2031		50,000		46,435
4.00%, 1/15/2032		202,000		177,105
Tennessee Gas Pipeline Co. LLC
7.00%, 10/15/2028		100,000		106,707
Tosco Corp.
8.13%, 2/15/2030		152,000		176,677
TotalEnergies Capital International SA
2.43%, 1/10/2025		50,000		48,060
2.83%, 1/10/2030		252,000		225,085
Transcanada Trust
Series 16-A, 5.87%, 8/15/2076(b)		50,000		46,649
5.50%, 9/15/2079(b)		200,000		170,101
5.60%, 3/7/2082(b)		50,000		42,119
Transcontinental Gas Pipe Line Co. LLC
4.00%, 3/15/2028		252,000		238,085
Valero Energy Corp.
2.80%, 12/1/2031		200,000		166,366
Valero Energy Partners LP
4.50%, 3/15/2028		200,000		193,669


Investments	Principal Amount ($)		Value ($)
Western Midstream Operating LP
3.10%, 2/1/2025(a)		200,000		191,171
4.65%, 7/1/2026		252,000		244,503
4.05%, 2/1/2030(a)		350,000		318,073
6.15%, 4/1/2033		150,000		152,134

				25,479,914

Paper & Forest Products - 0.1%
Suzano Austria GmbH
6.00%, 1/15/2029		252,000		251,519

Personal Care Products - 0.7%
Conopco, Inc.
6.63%, 4/15/2028		200,000		214,851
Haleon US Capital LLC
3.38%, 3/24/2027		502,000		472,446
Kenvue, Inc.
5.50%, 3/22/2025(d)		200,000		200,787
5.35%, 3/22/2026(d)		202,000		203,502
5.05%, 3/22/2028(d)		252,000		254,197
5.00%, 3/22/2030(d)		202,000		203,841
4.90%, 3/22/2033(d)		450,000		452,999

				2,002,623

Pharmaceuticals - 2.0%
Bristol-Myers Squibb Co.
2.95%, 3/15/2032		102,000		89,216
Eli Lilly & Co.
3.38%, 3/15/2029		353,000		333,322
4.70%, 2/27/2033		260,000		262,114
Merck & Co., Inc.
1.70%, 6/10/2027		151,000		135,474
1.90%, 12/10/2028		404,000		353,316
3.40%, 3/7/2029		555,000		519,594
4.30%, 5/17/2030		252,000		246,225
1.45%, 6/24/2030		250,000		202,895
2.15%, 12/10/2031		490,000		404,584
4.50%, 5/17/2033		350,000		344,486
Novartis Capital Corp.
2.20%, 8/14/2030		100,000		85,948
Pfizer Investment Enterprises Pte. Ltd.
4.45%, 5/19/2028		50,000		49,156
4.65%, 5/19/2030		808,000		799,802
4.75%, 5/19/2033		252,000		250,334
Pfizer, Inc.
3.45%, 3/15/2029		202,000		191,065
2.63%, 4/1/2030		126,000		111,341
Royalty Pharma plc
1.20%, 9/2/2025		502,000		456,360
Zoetis, Inc.
3.00%, 9/12/2027		96,000		89,602
3.90%, 8/20/2028		252,000		242,182
5.60%, 11/16/2032		200,000		208,858

				5,375,874

Professional Services - 0.6%
Automatic Data Processing, Inc.
3.38%, 9/15/2025		50,000		48,387
1.70%, 5/15/2028		433,000		380,069
1.25%, 9/1/2030		151,000		121,446


Investments	Principal Amount ($)		Value ($)
Broadridge Financial Solutions, Inc.
2.90%, 12/1/2029		252,000		218,061
2.60%, 5/1/2031		200,000		164,820
Equifax, Inc.
2.60%, 12/1/2024		101,000		96,575
3.10%, 5/15/2030		202,000		173,556
2.35%, 9/15/2031		100,000		79,052
Verisk Analytics, Inc.
4.00%, 6/15/2025		100,000		97,474
4.13%, 3/15/2029		252,000		242,483
5.75%, 4/1/2033		100,000		103,406

				1,725,329

Real Estate Management & Development - 0.0%(e)
CBRE Services, Inc.
2.50%, 4/1/2031		101,000		81,138

Residential REITs - 1.2%
American Homes 4 Rent LP
REIT, 4.90%, 2/15/2029		162,000		157,287
AvalonBay Communities, Inc.
REIT, 3.45%, 6/1/2025		151,000		146,022
REIT, 3.50%, 11/15/2025		50,000		47,923
REIT, 2.30%, 3/1/2030		303,000		254,047
Camden Property Trust
REIT, 3.15%, 7/1/2029		50,000		44,894
ERP Operating LP
REIT, 3.25%, 8/1/2027		45,000		41,612
REIT, 3.00%, 7/1/2029		303,000		269,433
Essential Properties LP
REIT, 2.95%, 7/15/2031		100,000		75,653
Essex Portfolio LP
REIT, 3.63%, 5/1/2027		200,000		186,874
REIT, 4.00%, 3/1/2029		151,000		139,948
REIT, 3.00%, 1/15/2030		252,000		216,132
REIT, 1.65%, 1/15/2031		100,000		75,870
Invitation Homes Operating Partnership LP
REIT, 2.30%, 11/15/2028		300,000		255,383
Mid-America Apartments LP
REIT, 3.95%, 3/15/2029		303,000		286,075
REIT, 2.75%, 3/15/2030		151,000		131,418
Spirit Realty LP
REIT, 2.10%, 3/15/2028		252,000		214,793
REIT, 4.00%, 7/15/2029		100,000		89,413
REIT, 3.40%, 1/15/2030		202,000		173,671
REIT, 3.20%, 2/15/2031		100,000		81,782
Tanger Properties LP
REIT, 3.13%, 9/1/2026		200,000		179,740
REIT, 2.75%, 9/1/2031		100,000		74,600

				3,142,570

Retail REITs - 0.8%
Agree LP
REIT, 2.00%, 6/15/2028		202,000		168,786
REIT, 4.80%, 10/1/2032		150,000		139,627
Brixmor Operating Partnership LP
REIT, 4.13%, 6/15/2026		252,000		237,561
REIT, 4.13%, 5/15/2029		252,000		227,185
REIT, 4.05%, 7/1/2030		151,000		137,346


Investments	Principal Amount ($)		Value ($)
NNN REIT, Inc.
REIT, 4.00%, 11/15/2025		50,000		47,672
REIT, 3.60%, 12/15/2026		200,000		186,071
REIT, 3.50%, 10/15/2027		151,000		138,712
REIT, 4.30%, 10/15/2028		91,000		85,274
Realty Income Corp.
REIT, 4.63%, 11/1/2025		202,000		198,896
Regency Centers LP
REIT, 2.95%, 9/15/2029		150,000		129,011
REIT, 3.70%, 6/15/2030		252,000		226,127
SITE Centers Corp.
REIT, 3.63%, 2/1/2025		230,000		218,020

				2,140,288

Semiconductors & Semiconductor Equipment - 2.9%
Broadcom Corp.
3.88%, 1/15/2027		394,000		375,645
3.50%, 1/15/2028		553,000		511,741
Broadcom, Inc.
3.63%, 10/15/2024		50,000		48,711
3.15%, 11/15/2025		502,000		478,541
3.46%, 9/15/2026		151,000		143,098
1.95%, 2/15/2028(d)		150,000		129,620
4.11%, 9/15/2028		405,000		383,685
4.00%, 4/15/2029(d)		404,000		374,337
4.75%, 4/15/2029		505,000		488,823
5.00%, 4/15/2030		150,000		147,512
4.15%, 11/15/2030		150,000		137,904
2.45%, 2/15/2031(d)		303,000		246,048
4.15%, 4/15/2032(d)		250,000		226,046
4.30%, 11/15/2032		450,000		410,513
2.60%, 2/15/2033(d)		300,000		233,655
3.42%, 4/15/2033(d)		640,000		535,290
Microchip Technology, Inc.
0.98%, 9/1/2024		101,000		95,861
Micron Technology, Inc.
4.66%, 2/15/2030		300,000		284,236
NXP BV
3.88%, 6/18/2026		50,000		47,959
3.15%, 5/1/2027		200,000		184,956
4.30%, 6/18/2029		250,000		236,016
3.40%, 5/1/2030		252,000		223,337
Qorvo, Inc.
4.38%, 10/15/2029		202,000		185,298
Skyworks Solutions, Inc.
1.80%, 6/1/2026		101,000		90,488
3.00%, 6/1/2031		100,000		82,930
Texas Instruments, Inc.
1.38%, 3/12/2025		202,000		190,197
2.90%, 11/3/2027		252,000		235,266
3.65%, 8/16/2032		150,000		138,316
4.90%, 3/14/2033		200,000		203,101
TSMC Arizona Corp.
1.75%, 10/25/2026		500,000		449,637
3.88%, 4/22/2027		252,000		242,576
2.50%, 10/25/2031		200,000		166,957

				7,928,300


Investments	Principal Amount ($)		Value ($)
Software - 2.0%
Adobe, Inc.
3.25%, 2/1/2025		50,000		48,622
2.15%, 2/1/2027		252,000		231,936
2.30%, 2/1/2030		353,000		309,263
Autodesk, Inc.
3.50%, 6/15/2027		350,000		330,537
2.85%, 1/15/2030		50,000		43,766
2.40%, 12/15/2031		202,000		165,618
Fortinet, Inc.
1.00%, 3/15/2026		50,000		44,715
Intuit, Inc.
1.35%, 7/15/2027		200,000		175,679
Microsoft Corp.
3.13%, 11/3/2025		279,000		269,076
Oracle Corp.
2.80%, 4/1/2027		290,000		267,781
3.25%, 11/15/2027		150,000		139,817
2.30%, 3/25/2028		303,000		267,347
2.95%, 4/1/2030		458,000		399,653
4.65%, 5/6/2030		101,000		97,758
3.25%, 5/15/2030		50,000		44,400
2.88%, 3/25/2031		303,000		257,619
6.25%, 11/9/2032		150,000		158,621
Roper Technologies, Inc.
3.80%, 12/15/2026		50,000		47,913
1.40%, 9/15/2027		480,000		416,825
4.20%, 9/15/2028		301,000		290,334
2.95%, 9/15/2029		50,000		44,710
1.75%, 2/15/2031		252,000		199,645
VMware, Inc.
1.00%, 8/15/2024		252,000		239,722
1.40%, 8/15/2026		353,000		312,751
4.65%, 5/15/2027		50,000		48,733
3.90%, 8/21/2027		252,000		239,040
1.80%, 8/15/2028		164,000		137,934
4.70%, 5/15/2030		252,000		239,238

				5,469,053

Specialized REITs - 1.5%
American Tower Corp.
REIT, 2.40%, 3/15/2025		603,000		571,536
Crown Castle, Inc.
REIT, 3.10%, 11/15/2029		50,000		43,780
REIT, 2.25%, 1/15/2031		250,000		203,282
REIT, 2.10%, 4/1/2031		100,000		79,668
CubeSmart LP
REIT, 4.00%, 11/15/2025		101,000		95,675
REIT, 2.25%, 12/15/2028		150,000		127,113
REIT, 4.38%, 2/15/2029		150,000		140,965
REIT, 3.00%, 2/15/2030		200,000		170,712
REIT, 2.50%, 2/15/2032		150,000		119,121
EPR Properties
REIT, 4.50%, 6/1/2027		153,000		138,709
REIT, 4.95%, 4/15/2028		353,000		317,225
REIT, 3.60%, 11/15/2031		100,000		78,105
Equinix, Inc.
REIT, 1.45%, 5/15/2026		162,000		145,288


Investments	Principal Amount ($)		Value ($)
REIT, 3.20%, 11/18/2029		252,000		222,081
Extra Space Storage LP
REIT, 3.90%, 4/1/2029		200,000		184,251
Public Storage
REIT, 0.88%, 2/15/2026		50,000		45,045
REIT, 3.09%, 9/15/2027		202,000		189,116
REIT, 1.85%, 5/1/2028		503,000		437,399
REIT, 1.95%, 11/9/2028		151,000		130,113
Weyerhaeuser Co.
REIT, 4.00%, 11/15/2029		101,000		93,437
REIT, 4.00%, 4/15/2030		454,000		418,511
REIT, 3.38%, 3/9/2033		150,000		128,801

				4,079,933

Specialty Retail - 1.7%
AutoNation, Inc.
1.95%, 8/1/2028		222,000		183,251
4.75%, 6/1/2030		100,000		94,101
AutoZone, Inc.
3.25%, 4/15/2025		242,000		232,812
3.13%, 4/21/2026		25,000		23,677
3.75%, 6/1/2027		202,000		193,355
4.50%, 2/1/2028		200,000		194,799
4.00%, 4/15/2030		252,000		233,922
4.75%, 8/1/2032		140,000		135,128
4.75%, 2/1/2033		150,000		143,591
Best Buy Co., Inc.
4.45%, 10/1/2028		51,000		49,557
Home Depot, Inc. (The)
2.80%, 9/14/2027		353,000		328,921
2.95%, 6/15/2029		151,000		137,942
3.25%, 4/15/2032		328,000		293,963
Lowe’s Cos., Inc.
3.65%, 4/5/2029		252,000		234,762
4.50%, 4/15/2030		202,000		195,600
3.75%, 4/1/2032		202,000		183,166
O’Reilly Automotive, Inc.
3.55%, 3/15/2026		252,000		241,365
3.60%, 9/1/2027		301,000		285,261
4.35%, 6/1/2028		353,000		343,968
4.20%, 4/1/2030		50,000		47,100
4.70%, 6/15/2032		150,000		144,161
Ross Stores, Inc.
0.88%, 4/15/2026		200,000		177,452
1.88%, 4/15/2031		150,000		118,869
TJX Cos., Inc. (The)
2.25%, 9/15/2026		50,000		46,406
3.88%, 4/15/2030		151,000		143,690
Tractor Supply Co.
5.25%, 5/15/2033		150,000		148,301

				4,555,120

Technology Hardware, Storage & Peripherals - 2.1%
Apple, Inc.
2.75%, 1/13/2025		101,000		97,731
2.50%, 2/9/2025		101,000		97,259
1.13%, 5/11/2025		454,000		425,011
3.20%, 5/13/2025		252,000		244,123
0.55%, 8/20/2025		50,000		45,806


Investments	Principal Amount ($)		Value ($)
3.25%, 2/23/2026		723,000		697,520
2.45%, 8/4/2026		352,000		329,860
2.05%, 9/11/2026		302,000		279,289
3.35%, 2/9/2027		232,000		222,583
3.20%, 5/11/2027		565,000		539,744
2.90%, 9/12/2027		202,000		189,872
3.00%, 11/13/2027		242,000		228,000
1.20%, 2/8/2028		454,000		393,901
1.40%, 8/5/2028		444,000		384,153
3.25%, 8/8/2029		202,000		189,498
2.20%, 9/11/2029		102,000		89,929
4.15%, 5/10/2030		50,000		49,350
1.65%, 2/8/2031		252,000		207,878
HP, Inc.
3.00%, 6/17/2027		353,000		326,833
4.00%, 4/15/2029		202,000		190,857
3.40%, 6/17/2030		100,000		87,566
NetApp, Inc.
1.88%, 6/22/2025		151,000		140,843
2.38%, 6/22/2027		200,000		181,804

				5,639,410

Textiles, Apparel & Luxury Goods - 0.0%(e)
Tapestry, Inc.
4.13%, 7/15/2027		8,000		7,525

Tobacco - 2.3%
Altria Group, Inc.
2.35%, 5/6/2025		212,000		200,181
4.40%, 2/14/2026		251,000		246,428
2.63%, 9/16/2026		151,000		140,827
4.80%, 2/14/2029		654,000		637,961
3.40%, 5/6/2030		303,000		268,025
2.45%, 2/4/2032		300,000		236,132
BAT Capital Corp.
3.22%, 9/6/2026		250,000		233,799
4.70%, 4/2/2027		133,000		129,471
3.56%, 8/15/2027		293,000		272,127
2.26%, 3/25/2028		151,000		130,543
3.46%, 9/6/2029		100,000		87,663
4.91%, 4/2/2030		252,000		238,707
2.73%, 3/25/2031		127,000		101,246
Philip Morris International, Inc.
1.50%, 5/1/2025		225,000		211,106
4.88%, 2/13/2026		351,000		348,666
2.75%, 2/25/2026		100,000		94,480
0.88%, 5/1/2026		151,000		135,141
5.13%, 11/17/2027		303,000		303,683
4.88%, 2/15/2028		553,000		547,503
3.38%, 8/15/2029		303,000		274,403
5.63%, 11/17/2029		200,000		204,604
5.13%, 2/15/2030		665,000		660,770
5.38%, 2/15/2033		530,000		528,438

				6,231,904

Trading Companies & Distributors - 0.2%
Air Lease Corp.
3.63%, 12/1/2027		202,000		187,212
3.13%, 12/1/2030		100,000		83,749


Investments	Principal Amount ($)		Value ($)
Aircastle Ltd.
4.25%, 6/15/2026		252,000		239,431

				510,392

Water Utilities - 0.2%
American Water Capital Corp.
3.45%, 6/1/2029		202,000		186,726
2.80%, 5/1/2030		200,000		174,587
Essential Utilities, Inc.
2.70%, 4/15/2030		200,000		169,640

				530,953

Wireless Telecommunication Services - 0.1%
America Movil SAB de CV
2.88%, 5/7/2030		252,000		218,465

TOTAL CORPORATE BONDS (COST $271,651,856)				261,867,912

Total Investments - 96.9% (Cost $271,651,856)				261,867,912
Other assets less liabilities - 3.1%				8,250,421

Net Assets - 100.0%				270,118,333

(a)	Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future at a contingent upon predetermined trigger. The interest rate shown was the current rate as of July 31, 2023.

(b)	Security issued at a fixed coupon rate, which converts to a variable rate at a future date. Rate shown is the rate in effect as of period end.

(c)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of July 31, 2023.

(d)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(e)	Represents less than 0.05% of net assets.

Percentages shown are based on Net Assets.


Abbreviations

CME		Chicago Mercantile Exchange
OYJ		Public Limited Company
REIT		Real Estate Investment Trust
SOFR		Secured Overnight Financing Rate


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 96.1%

Aerospace & Defense - 2.0%
Boeing Co. (The)
5.81%, 5/1/2050		80,000		80,463
5.93%, 5/1/2060		25,000		24,970
L3Harris Technologies, Inc.
5.05%, 4/27/2045		50,000		46,951
Lockheed Martin Corp.
4.09%, 9/15/2052		125,000		108,074
4.15%, 6/15/2053		170,000		146,989
5.70%, 11/15/2054		50,000		54,781
5.20%, 2/15/2055		10,000		10,196
4.30%, 6/15/2062		10,000		8,668
5.90%, 11/15/2063		90,000		101,038
Northrop Grumman Corp.
4.95%, 3/15/2053		10,000		9,620
RTX Corp.
4.45%, 11/16/2038		10,000		9,108
4.20%, 12/15/2044		10,000		7,956
5.38%, 2/27/2053		30,000		30,136

				638,950

Air Freight & Logistics - 0.2%
United Parcel Service, Inc.
5.05%, 3/3/2053		50,000		50,316

Automobile Components - 0.3%
Aptiv plc
4.15%, 5/1/2052		50,000		38,247
Lear Corp.
5.25%, 5/15/2049		50,000		44,204

				82,451

Automobiles - 0.0%(a)
General Motors Co.
5.95%, 4/1/2049		10,000		9,364

Banks - 7.3%
Bank of America Corp.
7.75%, 5/14/2038		100,000		119,809
2.68%, 6/19/2041(b)		50,000		35,412
3.31%, 4/22/2042(b)		25,000		19,278
4.08%, 3/20/2051(b)		50,000		41,679
Citigroup, Inc.
6.13%, 8/25/2036		100,000		103,316
2.90%, 11/3/2042(b)		25,000		17,710
6.68%, 9/13/2043		75,000		81,053
5.30%, 5/6/2044		100,000		92,914
4.75%, 5/18/2046		135,000		116,099
4.28%, 4/24/2048(b)		25,000		21,646
Cooperatieve Rabobank UA
5.25%, 5/24/2041		30,000		30,975
Fifth Third Bancorp
8.25%, 3/1/2038		20,000		23,437


Investments	Principal Amount ($)		Value ($)
HSBC Holdings plc
6.50%, 9/15/2037		100,000		101,017
6.33%, 3/9/2044(b)		200,000		209,140
JPMorgan Chase & Co.
6.40%, 5/15/2038		35,000		39,187
4.95%, 6/1/2045		230,000		214,939
3.33%, 4/22/2052(b)		50,000		36,719
Lloyds Banking Group plc
4.34%, 1/9/2048		200,000		154,593
Regions Financial Corp.
7.38%, 12/10/2037		50,000		53,486
Sumitomo Mitsui Financial Group, Inc.
2.93%, 9/17/2041		10,000		6,918
6.18%, 7/13/2043		10,000		10,407
Wells Fargo & Co.
5.95%, 12/15/2036		25,000		24,685
3.07%, 4/30/2041(b)		100,000		73,523
5.38%, 11/2/2043		100,000		95,005
5.61%, 1/15/2044		100,000		96,509
4.90%, 11/17/2045		150,000		131,863
4.40%, 6/14/2046		125,000		102,082
4.75%, 12/7/2046		150,000		128,483
5.01%, 4/4/2051(b)		10,000		9,328
Westpac Banking Corp.
3.13%, 11/18/2041		250,000		167,098

				2,358,310

Beverages - 1.0%
Brown-Forman Corp.
4.00%, 4/15/2038		50,000		43,893
Coca-Cola Co. (The)
2.50%, 6/1/2040		10,000		7,403
2.50%, 3/15/2051		10,000		6,699
2.75%, 6/1/2060		10,000		6,778
Constellation Brands, Inc.
5.25%, 11/15/2048		30,000		28,515
3.75%, 5/1/2050		30,000		23,421
Diageo Investment Corp.
4.25%, 5/11/2042		75,000		66,769
Keurig Dr Pepper, Inc.
4.50%, 11/15/2045		40,000		34,801
3.80%, 5/1/2050		40,000		31,020
4.50%, 4/15/2052		40,000		35,020
PepsiCo, Inc.
4.65%, 2/15/2053		50,000		49,635

				333,954

Biotechnology - 2.5%
AbbVie, Inc.
4.55%, 3/15/2035		200,000		190,460
4.85%, 6/15/2044		200,000		185,588
4.88%, 11/14/2048		200,000		187,634
Amgen, Inc.
5.15%, 11/15/2041		60,000		57,326
5.65%, 3/2/2053		30,000		30,091
4.40%, 2/22/2062		60,000		49,035


Investments	Principal Amount ($)		Value ($)
5.75%, 3/2/2063		30,000		30,156
Biogen, Inc.
3.25%, 2/15/2051		10,000		6,877
Gilead Sciences, Inc.
4.15%, 3/1/2047		20,000		17,156
2.80%, 10/1/2050		15,000		10,008
Regeneron Pharmaceuticals, Inc.
2.80%, 9/15/2050		50,000		31,793

				796,124

Broadline Retail - 0.4%
Alibaba Group Holding Ltd.
3.15%, 2/9/2051		200,000		126,594

Building Products - 0.8%
Carrier Global Corp.
3.58%, 4/5/2050		50,000		37,092
Johnson Controls International plc
4.50%, 2/15/2047		30,000		26,039
Masco Corp.
4.50%, 5/15/2047		50,000		40,069
Owens Corning
4.30%, 7/15/2047		40,000		32,761
4.40%, 1/30/2048		40,000		33,079
Trane Technologies Luxembourg Finance SA
4.50%, 3/21/2049		100,000		87,827

				256,867

Capital Markets - 1.9%
CI Financial Corp.
4.10%, 6/15/2051		50,000		30,569
Goldman Sachs Group, Inc. (The)
4.02%, 10/31/2038(b)		55,000		46,671
2.91%, 7/21/2042(b)		55,000		38,940
4.75%, 10/21/2045		75,000		68,545
Moody’s Corp.
2.75%, 8/19/2041		10,000		7,035
4.88%, 12/17/2048		10,000		9,317
3.25%, 5/20/2050		10,000		7,038
3.75%, 2/25/2052		60,000		46,808
2.55%, 8/18/2060		10,000		5,434
3.10%, 11/29/2061		70,000		45,005
Morgan Stanley
6.38%, 7/24/2042		50,000		56,054
4.30%, 1/27/2045		60,000		52,717
Nasdaq, Inc.
2.50%, 12/21/2040		10,000		6,672
3.25%, 4/28/2050		110,000		74,724
3.95%, 3/7/2052		60,000		46,150
6.10%, 6/28/2063		10,000		10,098
S&P Global, Inc.
6.55%, 11/15/2037		50,000		54,497
4.50%, 5/15/2048		10,000		8,840
3.90%, 3/1/2062		10,000		8,168

				623,282

Chemicals - 1.9%
Albemarle Corp.
5.45%, 12/1/2044		50,000		46,372


Investments	Principal Amount ($)		Value ($)
CF Industries, Inc.
5.15%, 3/15/2034		40,000		38,342
5.38%, 3/15/2044		100,000		90,857
Dow Chemical Co. (The)
9.40%, 5/15/2039		48,000		64,976
5.55%, 11/30/2048		40,000		38,936
FMC Corp.
4.50%, 10/1/2049		50,000		38,137
LYB International Finance BV
5.25%, 7/15/2043		50,000		45,364
LYB International Finance III LLC
4.20%, 10/15/2049		50,000		38,386
4.20%, 5/1/2050		50,000		38,322
3.63%, 4/1/2051		100,000		69,304
LyondellBasell Industries NV
4.63%, 2/26/2055		50,000		40,624
Mosaic Co. (The)
5.63%, 11/15/2043		30,000		28,138
RPM International, Inc.
4.25%, 1/15/2048		20,000		15,154
Sherwin-Williams Co. (The)
2.90%, 3/15/2052		40,000		25,907

				618,819

Commercial Services & Supplies - 0.2%
Republic Services, Inc.
5.70%, 5/15/2041		25,000		26,003
Waste Management, Inc.
2.95%, 6/1/2041		40,000		29,539

				55,542

Communications Equipment - 1.3%
Cisco Systems, Inc.
5.90%, 2/15/2039		200,000		220,252
5.50%, 1/15/2040		100,000		105,868
Juniper Networks, Inc.
5.95%, 3/15/2041		30,000		29,114
Motorola Solutions, Inc.
5.50%, 9/1/2044		30,000		28,607
Nokia OYJ
6.63%, 5/15/2039		50,000		48,560

				432,401

Construction & Engineering - 0.2%
Quanta Services, Inc.
3.05%, 10/1/2041		20,000		13,798
Valmont Industries, Inc.
5.00%, 10/1/2044		50,000		43,277

				57,075

Construction Materials - 0.0%(a)
Vulcan Materials Co.
4.50%, 6/15/2047		10,000		8,780

Consumer Staples Distribution & Retail - 0.6%
Dollar General Corp.
5.50%, 11/1/2052		10,000		9,448
Dollar Tree, Inc.
3.38%, 12/1/2051		30,000		20,088
Sysco Corp.
6.60%, 4/1/2040		10,000		10,775


Investments	Principal Amount ($)		Value ($)
6.60%, 4/1/2050		120,000		135,973
3.15%, 12/14/2051		20,000		13,784

				190,068

Containers & Packaging - 0.3%
International Paper Co.
6.00%, 11/15/2041		25,000		25,509
Packaging Corp. of America
3.05%, 10/1/2051		100,000		65,711

				91,220

Diversified REITs - 0.2%
Simon Property Group LP
REIT, 5.85%, 3/8/2053		20,000		20,203
VICI Properties LP
REIT, 5.63%, 5/15/2052		50,000		45,818

				66,021

Diversified Telecommunication Services - 1.8%
Bell Canada (The)
4.46%, 4/1/2048		60,000		51,101
4.30%, 7/29/2049		15,000		12,336
3.65%, 8/15/2052		60,000		44,361
Telefonica Emisiones SA
5.21%, 3/8/2047		150,000		130,071
TELUS Corp.
4.30%, 6/15/2049		50,000		39,979
Verizon Communications, Inc.
2.88%, 11/20/2050		80,000		50,829
3.55%, 3/22/2051		80,000		57,939
3.88%, 3/1/2052		80,000		61,714
2.99%, 10/30/2056		80,000		49,274
3.70%, 3/22/2061		120,000		85,032

				582,636

Electric Utilities - 3.2%
AEP Texas, Inc.
5.25%, 5/15/2052		35,000		33,201
Arizona Public Service Co.
4.20%, 8/15/2048		10,000		7,824
4.25%, 3/1/2049		10,000		7,830
3.50%, 12/1/2049		60,000		41,833
3.35%, 5/15/2050		70,000		47,864
Cleco Corporate Holdings LLC
4.97%, 5/1/2046(c)		10,000		8,268
Duke Energy Corp.
4.80%, 12/15/2045		55,000		49,109
3.75%, 9/1/2046		20,000		15,265
3.95%, 8/15/2047		50,000		38,332
Emera US Finance LP
4.75%, 6/15/2046		50,000		40,183
Georgia Power Co.
Series B, 3.70%, 1/30/2050		6,000		4,625
5.13%, 5/15/2052		15,000		14,441
Kentucky Utilities Co.
3.30%, 6/1/2050		100,000		71,445
MidAmerican Energy Co.
4.25%, 7/15/2049		50,000		42,101
Oklahoma Gas and Electric Co.
3.85%, 8/15/2047		45,000		34,903


Investments	Principal Amount ($)		Value ($)
Pacific Gas and Electric Co.
4.95%, 7/1/2050		50,000		39,986
6.75%, 1/15/2053		50,000		50,066
6.70%, 4/1/2053		50,000		49,940
PacifiCorp
6.25%, 10/15/2037		100,000		102,372
2.90%, 6/15/2052		50,000		30,529
5.35%, 12/1/2053		25,000		22,226
PPL Electric Utilities Corp.
5.25%, 5/15/2053		50,000		50,211
Public Service Co. of Colorado
5.25%, 4/1/2053		30,000		28,714
Tucson Electric Power Co.
4.00%, 6/15/2050		60,000		46,080
Union Electric Co.
3.90%, 4/1/2052		50,000		40,576
Wisconsin Power and Light Co.
3.65%, 4/1/2050		70,000		52,215
Wisconsin Public Service Corp.
3.30%, 9/1/2049		40,000		28,473
2.85%, 12/1/2051		70,000		45,779

				1,044,391

Electrical Equipment - 0.4%
ABB Finance USA, Inc.
4.38%, 5/8/2042		50,000		44,002
Eaton Corp.
4.70%, 8/23/2052		30,000		28,389
Emerson Electric Co.
2.80%, 12/21/2051		50,000		33,416
Rockwell Automation, Inc.
2.80%, 8/15/2061		25,000		15,874

				121,681

Electronic Equipment, Instruments & Components - 0.4%
Corning, Inc.
4.38%, 11/15/2057		25,000		20,434
5.45%, 11/15/2079		80,000		73,443
Tyco Electronics Group SA
7.13%, 10/1/2037		40,000		45,871

				139,748

Entertainment - 0.3%
Activision Blizzard, Inc.
2.50%, 9/15/2050		100,000		65,092
Electronic Arts, Inc.
2.95%, 2/15/2051		50,000		33,673

				98,765

Financial Services - 1.3%
Fidelity National Information Services, Inc.
5.63%, 7/15/2052		25,000		24,420
Fiserv, Inc.
4.40%, 7/1/2049		80,000		67,160
Global Payments, Inc.
4.15%, 8/15/2049		10,000		7,530
5.95%, 8/15/2052		10,000		9,754
Mastercard, Inc.
3.65%, 6/1/2049		10,000		8,244
3.85%, 3/26/2050		20,000		17,073
2.95%, 3/15/2051		60,000		43,234


Investments	Principal Amount ($)		Value ($)
PayPal Holdings, Inc.
5.05%, 6/1/2052		10,000		9,853
Shell International Finance BV
6.38%, 12/15/2038		20,000		22,472
Visa, Inc.
2.70%, 4/15/2040		50,000		38,048
4.30%, 12/14/2045		100,000		92,675
Voya Financial, Inc.
4.80%, 6/15/2046		25,000		20,207
Western Union Co. (The)
6.20%, 6/21/2040		50,000		50,732

				411,402

Food Products - 1.3%
Campbell Soup Co.
4.80%, 3/15/2048		50,000		45,026
Conagra Brands, Inc.
5.40%, 11/1/2048		50,000		47,021
General Mills, Inc.
5.40%, 6/15/2040		50,000		49,683
Hershey Co. (The)
2.65%, 6/1/2050		50,000		32,968
Hormel Foods Corp.
3.05%, 6/3/2051		50,000		34,969
Ingredion, Inc.
3.90%, 6/1/2050		50,000		36,911
J M Smucker Co. (The)
4.25%, 3/15/2035		25,000		22,576
2.75%, 9/15/2041		70,000		48,186
JM Smucker Co. (The)
3.55%, 3/15/2050		40,000		28,899
Kraft Heinz Foods Co.
5.50%, 6/1/2050		60,000		59,488

				405,727

Gas Utilities - 0.5%
Atmos Energy Corp.
4.13%, 10/15/2044		55,000		46,327
5.75%, 10/15/2052		40,000		42,749
Piedmont Natural Gas Co., Inc.
3.64%, 11/1/2046		10,000		7,064
Southern California Gas Co.
6.35%, 11/15/2052		50,000		55,115
Spire Missouri, Inc.
3.30%, 6/1/2051		30,000		20,860

				172,115

Ground Transportation - 3.4%
Burlington Northern Santa Fe LLC
4.40%, 3/15/2042		75,000		67,474
4.15%, 12/15/2048		100,000		86,165
3.05%, 2/15/2051		100,000		69,905
3.30%, 9/15/2051		150,000		110,894
2.88%, 6/15/2052		80,000		54,088
4.45%, 1/15/2053		50,000		45,473
5.20%, 4/15/2054		50,000		50,239
Canadian National Railway Co.
4.45%, 1/20/2049		10,000		9,021
4.40%, 8/5/2052		150,000		136,089


Investments	Principal Amount ($)		Value ($)
Canadian Pacific Railway Co.
6.13%, 9/15/2115		30,000		30,678
CSX Corp.
4.50%, 11/15/2052		70,000		62,423
4.50%, 8/1/2054		40,000		35,386
4.65%, 3/1/2068		40,000		35,508
Norfolk Southern Corp.
4.05%, 8/15/2052		40,000		32,655
4.55%, 6/1/2053		40,000		35,639
3.16%, 5/15/2055		40,000		27,042
5.10%, 8/1/2118		40,000		34,038
4.10%, 5/15/2121		15,000		10,686
Union Pacific Corp.
3.84%, 3/20/2060		130,000		103,134
3.75%, 2/5/2070		100,000		75,528

				1,112,065

Health Care Equipment & Supplies - 0.4%
Boston Scientific Corp.
4.55%, 3/1/2039		50,000		46,207
4.70%, 3/1/2049		10,000		9,263
Stryker Corp.
2.90%, 6/15/2050		50,000		33,932
Zimmer Biomet Holdings, Inc.
4.25%, 8/15/2035		50,000		42,725

				132,127

Health Care Providers & Services - 3.3%
AmerisourceBergen Corp.
4.30%, 12/15/2047		75,000		63,542
Cardinal Health, Inc.
4.37%, 6/15/2047		130,000		106,416
Elevance Health, Inc.
5.13%, 2/15/2053		20,000		19,253
HCA, Inc.
5.25%, 6/15/2049		50,000		44,996
4.63%, 3/15/2052(d)		50,000		41,055
Humana, Inc.
4.95%, 10/1/2044		50,000		45,200
5.50%, 3/15/2053		50,000		49,377
Laboratory Corp. of America Holdings
4.70%, 2/1/2045		50,000		43,116
McKesson Corp.
5.10%, 7/15/2033		25,000		25,082
OhioHealth Corp.
2.83%, 11/15/2041		10,000		7,179
Series 2020, 3.04%, 11/15/2050		20,000		14,263
UnitedHealth Group, Inc.
6.63%, 11/15/2037		100,000		114,525
4.75%, 5/15/2052		30,000		28,256
5.88%, 2/15/2053		100,000		110,066
3.88%, 8/15/2059		100,000		79,799
3.13%, 5/15/2060		115,000		78,695
4.95%, 5/15/2062		75,000		71,701
6.05%, 2/15/2063		100,000		112,211

				1,054,732


Investments	Principal Amount ($)		Value ($)
Hotels, Restaurants & Leisure - 2.1%
Darden Restaurants, Inc.
4.55%, 2/15/2048		20,000		16,691
Marriott International, Inc.
Series II, 2.75%, 10/15/2033		25,000		19,850
McDonald’s Corp.
4.70%, 12/9/2035		50,000		48,364
6.30%, 10/15/2037		50,000		54,996
4.88%, 12/9/2045		75,000		71,313
4.45%, 3/1/2047		100,000		89,209
4.45%, 9/1/2048		110,000		98,647
3.63%, 9/1/2049		130,000		100,936
4.20%, 4/1/2050		110,000		94,141
5.15%, 9/9/2052		75,000		74,249

				668,396

Household Durables - 0.1%
MDC Holdings, Inc.
6.00%, 1/15/2043		50,000		44,743

Household Products - 0.3%
Church & Dwight Co., Inc.
5.00%, 6/15/2052		50,000		48,296
Kimberly-Clark Corp.
6.63%, 8/1/2037		50,000		57,908

				106,204

Insurance - 5.9%
Aflac, Inc.
6.45%, 8/15/2040		50,000		53,571
Alleghany Corp.
4.90%, 9/15/2044		50,000		46,157
Allstate Corp. (The)
3.85%, 8/10/2049		20,000		15,485
American Financial Group, Inc.
4.50%, 6/15/2047		60,000		48,726
American International Group, Inc.
4.38%, 6/30/2050		20,000		17,073
Aon Corp.
3.90%, 2/28/2052		100,000		78,372
Aon Global Ltd.
4.60%, 6/14/2044		55,000		47,869
4.75%, 5/15/2045		100,000		88,425
Arch Capital Group Ltd.
7.35%, 5/1/2034		100,000		112,779
3.64%, 6/30/2050		75,000		54,905
Arthur J Gallagher & Co.
3.50%, 5/20/2051		70,000		49,986
3.05%, 3/9/2052		75,000		47,738
5.75%, 3/2/2053		10,000		10,016
Athene Holding Ltd.
3.95%, 5/25/2051		50,000		34,811
3.45%, 5/15/2052		10,000		6,401
Berkshire Hathaway Finance Corp.
4.20%, 8/15/2048		10,000		8,991
4.25%, 1/15/2049		85,000		77,721
2.85%, 10/15/2050		10,000		6,869
3.85%, 3/15/2052		190,000		155,512


Investments	Principal Amount ($)		Value ($)
Brown & Brown, Inc.
4.95%, 3/17/2052		50,000		42,736
Chubb INA Holdings, Inc.
3.05%, 12/15/2061		20,000		13,398
Everest Reinsurance Holdings, Inc.
3.50%, 10/15/2050		10,000		7,041
3.13%, 10/15/2052		10,000		6,552
Fidelity National Financial, Inc.
3.20%, 9/17/2051		45,000		26,843
Hartford Financial Services Group, Inc. (The)
4.40%, 3/15/2048		20,000		16,733
3.60%, 8/19/2049		50,000		37,493
2.90%, 9/15/2051		75,000		49,280
Markel Group, Inc.
4.15%, 9/17/2050		125,000		96,727
3.45%, 5/7/2052		50,000		35,156
Marsh & McLennan Cos., Inc.
4.75%, 3/15/2039		100,000		94,192
4.90%, 3/15/2049		80,000		75,429
MetLife, Inc.
6.40%, 12/15/2036		20,000		19,997
10.75%, 8/1/2039		20,000		25,853
Old Republic International Corp.
3.85%, 6/11/2051		50,000		35,631
Principal Financial Group, Inc.
5.50%, 3/15/2053		50,000		47,408
Prudential Financial, Inc.
4.35%, 2/25/2050		50,000		42,693
Selective Insurance Group, Inc.
5.38%, 3/1/2049		25,000		22,654
Travelers Cos., Inc. (The)
6.25%, 6/15/2037		50,000		55,328
Trinity Acquisition plc
6.13%, 8/15/2043		25,000		23,700
Unum Group
4.13%, 6/15/2051		95,000		69,054
W R Berkley Corp.
4.00%, 5/12/2050		10,000		7,728
3.55%, 3/30/2052		60,000		41,819
3.15%, 9/30/2061		10,000		6,165
Willis North America, Inc.
5.05%, 9/15/2048		75,000		63,717

				1,924,734

Interactive Media & Services - 1.5%
Alphabet, Inc.
2.25%, 8/15/2060		45,000		27,220
Meta Platforms, Inc.
4.45%, 8/15/2052		190,000		165,758
5.60%, 5/15/2053		70,000		72,078
4.65%, 8/15/2062		135,000		119,379
5.75%, 5/15/2063		105,000		108,893

				493,328

IT Services - 1.4%
International Business Machines Corp.
4.15%, 5/15/2039		110,000		96,068
4.25%, 5/15/2049		310,000		263,915


Investments	Principal Amount ($)		Value ($)
4.90%, 7/27/2052		100,000		93,285

				453,268

Machinery - 0.5%
Dover Corp.
5.38%, 3/1/2041		50,000		48,404
Fortive Corp.
4.30%, 6/15/2046		50,000		39,954
Otis Worldwide Corp.
3.11%, 2/15/2040		50,000		38,530
3.36%, 2/15/2050		50,000		36,339

				163,227

Media - 3.1%
Charter Communications Operating LLC
6.48%, 10/23/2045		120,000		111,980
5.38%, 5/1/2047		120,000		98,046
5.75%, 4/1/2048		159,000		136,222
4.80%, 3/1/2050		80,000		60,624
3.70%, 4/1/2051		80,000		50,772
Comcast Corp.
5.35%, 5/15/2053		50,000		50,212
2.94%, 11/1/2056		70,000		45,083
2.99%, 11/1/2063		100,000		62,858
Fox Corp.
5.48%, 1/25/2039		100,000		92,533
5.58%, 1/25/2049		100,000		91,665
Interpublic Group of Cos., Inc. (The)
5.40%, 10/1/2048		50,000		46,255
Time Warner Cable LLC
7.30%, 7/1/2038		40,000		40,783
6.75%, 6/15/2039		60,000		57,826
5.88%, 11/15/2040		65,000		57,493

				1,002,352

Metals & Mining - 0.8%
ArcelorMittal SA
6.75%, 3/1/2041(c)		50,000		50,433
Freeport-McMoRan, Inc.
5.45%, 3/15/2043		20,000		18,622
Nucor Corp.
3.85%, 4/1/2052		30,000		23,456
Steel Dynamics, Inc.
3.25%, 10/15/2050		30,000		19,834
Vale Overseas Ltd.
6.88%, 11/21/2036		140,000		149,148

				261,493

Multi-Utilities - 4.4%
Berkshire Hathaway Energy Co.
6.13%, 4/1/2036		200,000		210,255
4.45%, 1/15/2049		100,000		84,808
4.25%, 10/15/2050		150,000		121,206
2.85%, 5/15/2051		50,000		32,210
Black Hills Corp.
4.20%, 9/15/2046		25,000		19,429
Consolidated Edison Co. of New York, Inc.
Series 09-C, 5.50%, 12/1/2039		50,000		49,076
Series 20B, 3.95%, 4/1/2050		100,000		81,089


Investments	Principal Amount ($)		Value ($)
6.15%, 11/15/2052		100,000		109,892
4.63%, 12/1/2054		50,000		43,569
4.50%, 5/15/2058		50,000		41,960
3.70%, 11/15/2059		50,000		36,215
3.60%, 6/15/2061		50,000		35,722
NiSource, Inc.
5.40%, 6/30/2033		25,000		25,202
5.00%, 6/15/2052		50,000		45,607
Puget Sound Energy, Inc.
3.25%, 9/15/2049		10,000		7,024
5.45%, 6/1/2053		85,000		86,083
San Diego Gas & Electric Co.
4.30%, 4/1/2042		50,000		41,135
2.95%, 8/15/2051		125,000		84,447
5.35%, 4/1/2053		50,000		49,700
Sempra
3.80%, 2/1/2038		50,000		41,511
6.00%, 10/15/2039		50,000		50,798
4.00%, 2/1/2048		100,000		77,941
Southern Co. Gas Capital Corp.
4.40%, 5/30/2047		50,000		41,278

				1,416,157

Office REITs - 0.1%
Alexandria Real Estate Equities, Inc.
REIT, 4.75%, 4/15/2035		20,000		18,658
Corporate Office Properties LP
REIT, 2.90%, 12/1/2033		30,000		21,460

				40,118

Oil, Gas & Consumable Fuels - 14.8%
Canadian Natural Resources Ltd.
6.50%, 2/15/2037		100,000		101,866
6.25%, 3/15/2038		50,000		51,234
6.75%, 2/1/2039		75,000		78,237
Cenovus Energy, Inc.
6.80%, 9/15/2037		25,000		26,110
5.40%, 6/15/2047		50,000		46,040
3.75%, 2/15/2052		50,000		35,698
ConocoPhillips Co.
5.30%, 5/15/2053		50,000		50,520
4.03%, 3/15/2062		80,000		64,492
Continental Resources, Inc.
4.90%, 6/1/2044		50,000		39,620
Devon Energy Corp.
5.60%, 7/15/2041		50,000		47,542
5.00%, 6/15/2045		70,000		61,663
Diamondback Energy, Inc.
4.25%, 3/15/2052		45,000		34,951
6.25%, 3/15/2053		30,000		30,711
Eastern Gas Transmission & Storage, Inc.
4.60%, 12/15/2044		50,000		41,846
Energy Transfer LP
5.80%, 6/15/2038		50,000		47,981
6.50%, 2/1/2042		190,000		193,279
5.00%, 5/15/2044(c)		50,000		41,695
6.13%, 12/15/2045		90,000		86,087
5.40%, 10/1/2047		50,000		44,221
6.25%, 4/15/2049		100,000		98,216


Investments	Principal Amount ($)		Value ($)
5.00%, 5/15/2050		160,000		135,385
Enterprise Products Operating LLC
5.95%, 2/1/2041		130,000		134,943
4.45%, 2/15/2043		100,000		87,592
4.85%, 3/15/2044		230,000		209,893
4.25%, 2/15/2048		85,000		71,383
3.70%, 1/31/2051		85,000		64,398
3.95%, 1/31/2060		100,000		76,311
Exxon Mobil Corp.
4.33%, 3/19/2050		10,000		8,946
3.45%, 4/15/2051		70,000		53,786
Hess Corp.
6.00%, 1/15/2040		50,000		49,890
5.80%, 4/1/2047		50,000		48,836
Kinder Morgan Energy Partners LP
6.95%, 1/15/2038		70,000		76,252
6.50%, 9/1/2039		50,000		51,056
6.38%, 3/1/2041		50,000		50,411
5.50%, 3/1/2044		50,000		45,798
Kinder Morgan, Inc.
5.55%, 6/1/2045		75,000		70,027
5.05%, 2/15/2046		50,000		43,507
5.20%, 3/1/2048		50,000		44,212
3.60%, 2/15/2051		50,000		34,828
5.45%, 8/1/2052		50,000		46,169
Magellan Midstream Partners LP
5.15%, 10/15/2043		15,000		12,956
4.20%, 10/3/2047		95,000		70,445
4.85%, 2/1/2049		100,000		82,195
3.95%, 3/1/2050		40,000		28,467
Marathon Oil Corp.
5.20%, 6/1/2045		45,000		39,019
Marathon Petroleum Corp.
6.50%, 3/1/2041		70,000		72,485
4.50%, 4/1/2048		65,000		51,427
MPLX LP
4.70%, 4/15/2048		75,000		62,142
5.50%, 2/15/2049		80,000		73,006
4.95%, 3/14/2052		50,000		42,469
4.90%, 4/15/2058		100,000		81,669
Occidental Petroleum Corp.
6.45%, 9/15/2036		70,000		73,490
7.95%, 6/15/2039		40,000		45,611
6.20%, 3/15/2040		40,000		40,326
6.60%, 3/15/2046		40,000		42,392
4.40%, 8/15/2049		40,000		29,474
ONEOK Partners LP
6.85%, 10/15/2037		100,000		103,329
6.13%, 2/1/2041		40,000		39,444
ONEOK, Inc.
4.95%, 7/13/2047		100,000		82,942
5.20%, 7/15/2048		110,000		94,703
4.45%, 9/1/2049		10,000		7,682
Ovintiv, Inc.
6.50%, 2/1/2038		30,000		30,016
Plains All American Pipeline LP
5.15%, 6/1/2042		100,000		84,483
4.70%, 6/15/2044		50,000		39,583


Investments	Principal Amount ($)		Value ($)
Suncor Energy, Inc.
6.80%, 5/15/2038		50,000		52,989
6.50%, 6/15/2038		50,000		52,143
6.85%, 6/1/2039		50,000		53,473
3.75%, 3/4/2051		140,000		102,220
Targa Resources Corp.
6.25%, 7/1/2052		75,000		74,490
Transcontinental Gas Pipe Line Co. LLC
4.60%, 3/15/2048		50,000		42,964
Valero Energy Corp.
3.65%, 12/1/2051		75,000		52,651
4.00%, 6/1/2052		70,000		53,073
Western Midstream Operating LP
5.30%, 3/1/2048		60,000		51,434
5.25%, 2/1/2050(c)		110,000		93,289
Williams Cos., Inc. (The)
6.30%, 4/15/2040		70,000		73,294
5.10%, 9/15/2045		90,000		81,340
3.50%, 10/15/2051		50,000		34,784
5.30%, 8/15/2052		50,000		46,241

				4,819,772

Personal Care Products - 0.6%
Kenvue, Inc.
5.10%, 3/22/2043(d)		100,000		100,287
5.05%, 3/22/2053(d)		50,000		50,266
5.20%, 3/22/2063(d)		50,000		50,427

				200,980

Pharmaceuticals - 4.6%
Bristol-Myers Squibb Co.
4.25%, 10/26/2049		10,000		8,687
3.70%, 3/15/2052		10,000		7,919
3.90%, 3/15/2062		120,000		94,545
Eli Lilly & Co.
4.88%, 2/27/2053		90,000		91,040
4.15%, 3/15/2059		70,000		60,856
2.50%, 9/15/2060		10,000		6,194
4.95%, 2/27/2063		90,000		90,280
Merck & Co., Inc.
3.90%, 3/7/2039		100,000		89,421
4.00%, 3/7/2049		10,000		8,691
2.75%, 12/10/2051		145,000		97,819
5.00%, 5/17/2053		140,000		140,450
2.90%, 12/10/2061		75,000		48,717
5.15%, 5/17/2063		75,000		75,757
Pfizer Investment Enterprises Pte. Ltd.
5.11%, 5/19/2043		175,000		173,685
5.30%, 5/19/2053		100,000		102,754
5.34%, 5/19/2063		200,000		200,574
Pfizer, Inc.
5.60%, 9/15/2040		50,000		52,817
Royalty Pharma plc
3.55%, 9/2/2050		50,000		33,623
3.35%, 9/2/2051		50,000		31,916
Zoetis, Inc.
4.70%, 2/1/2043		50,000		46,185


Investments	Principal Amount ($)		Value ($)
4.45%, 8/20/2048		50,000		44,404

				1,506,334

Professional Services - 0.1%
Verisk Analytics, Inc.
3.63%, 5/15/2050		50,000		36,357

Real Estate Management & Development - 0.2%
CBRE Services, Inc.
5.95%, 8/15/2034		60,000		60,439

Residential REITs - 0.1%
American Homes 4 Rent LP
REIT, 4.30%, 4/15/2052		20,000		15,639
Essex Portfolio LP
REIT, 4.50%, 3/15/2048		20,000		16,166
REIT, 2.65%, 9/1/2050		20,000		11,429

				43,234

Retail REITs - 0.4%
NNN REIT, Inc.
REIT, 3.50%, 4/15/2051		74,000		50,631
REIT, 3.00%, 4/15/2052		50,000		31,175
Regency Centers LP
REIT, 4.40%, 2/1/2047		60,000		48,013

				129,819

Semiconductors & Semiconductor Equipment - 4.2%
Analog Devices, Inc.
2.95%, 10/1/2051		50,000		34,788
Broadcom, Inc.
3.47%, 4/15/2034(d)		160,000		131,233
3.14%, 11/15/2035(d)		210,000		161,107
3.19%, 11/15/2036(d)		120,000		90,737
3.50%, 2/15/2041(d)		210,000		156,336
3.75%, 2/15/2051(d)		160,000		116,815
KLA Corp.
5.00%, 3/15/2049		10,000		9,639
4.95%, 7/15/2052		55,000		53,407
5.25%, 7/15/2062		95,000		94,826
Lam Research Corp.
4.88%, 3/15/2049		10,000		9,591
3.13%, 6/15/2060		60,000		39,980
Micron Technology, Inc.
3.37%, 11/1/2041		50,000		35,314
NVIDIA Corp.
3.50%, 4/1/2040		10,000		8,509
3.70%, 4/1/2060		20,000		16,260
NXP BV
3.25%, 5/11/2041		50,000		36,463
3.25%, 11/30/2051		50,000		33,241
QUALCOMM, Inc.
6.00%, 5/20/2053		80,000		88,962
Texas Instruments, Inc.
3.88%, 3/15/2039		20,000		17,715
4.15%, 5/15/2048		65,000		58,375
2.70%, 9/15/2051		20,000		13,667
4.10%, 8/16/2052		10,000		8,692
5.00%, 3/14/2053		70,000		69,854


Investments	Principal Amount ($)		Value ($)
5.05%, 5/18/2063		90,000		89,106

				1,374,617

Software - 2.9%
Microsoft Corp.
2.53%, 6/1/2050		20,000		13,623
2.92%, 3/17/2052		120,000		87,666
2.68%, 6/1/2060		50,000		33,085
3.04%, 3/17/2062		260,000		185,953
Oracle Corp.
6.13%, 7/8/2039		105,000		107,937
3.65%, 3/25/2041		140,000		107,957
4.13%, 5/15/2045		225,000		176,989
3.60%, 4/1/2050		200,000		142,115
4.38%, 5/15/2055		39,000		30,865
3.85%, 4/1/2060		95,000		66,266

				952,456

Specialized REITs - 0.1%
Weyerhaeuser Co.
REIT, 4.00%, 3/9/2052		50,000		39,476

Specialty Retail - 2.5%
Dick’s Sporting Goods, Inc.
4.10%, 1/15/2052		50,000		34,264
Home Depot, Inc. (The)
3.30%, 4/15/2040		10,000		8,094
4.50%, 12/6/2048		10,000		9,199
3.13%, 12/15/2049		10,000		7,204
3.35%, 4/15/2050		10,000		7,560
3.63%, 4/15/2052		135,000		106,456
4.95%, 9/15/2052		120,000		117,824
Lowe’s Cos., Inc.
4.05%, 5/3/2047		50,000		40,107
4.55%, 4/5/2049		25,000		21,257
5.13%, 4/15/2050		50,000		46,925
3.00%, 10/15/2050		100,000		65,445
4.25%, 4/1/2052		100,000		80,939
5.63%, 4/15/2053		100,000		99,368
4.45%, 4/1/2062		100,000		80,351
5.80%, 9/15/2062		50,000		49,601
5.85%, 4/1/2063		50,000		50,164

				824,758

Technology Hardware, Storage & Peripherals - 2.6%
Apple, Inc.
4.38%, 5/13/2045		50,000		47,065
4.65%, 2/23/2046		190,000		186,408
2.70%, 8/5/2051		200,000		138,223
2.55%, 8/20/2060		100,000		64,967
2.80%, 2/8/2061		100,000		66,945
2.85%, 8/5/2061		100,000		66,986
4.10%, 8/8/2062		70,000		60,989
Dell International LLC
8.35%, 7/15/2046		50,000		62,719
3.45%, 12/15/2051(d)		40,000		26,786
Hewlett Packard Enterprise Co.
6.35%, 10/15/2045(c)		50,000		52,264


Investments	Principal Amount ($)		Value ($)
HP, Inc.
6.00%, 9/15/2041		80,000		81,279

				854,631

Tobacco - 3.8%
Altria Group, Inc.
5.80%, 2/14/2039		100,000		98,384
3.40%, 2/4/2041		50,000		34,814
4.25%, 8/9/2042		140,000		108,552
4.50%, 5/2/2043		75,000		59,790
5.38%, 1/31/2044		125,000		118,215
5.95%, 2/14/2049		240,000		228,048
BAT Capital Corp.
4.54%, 8/15/2047		100,000		74,394
5.28%, 4/2/2050		100,000		82,051
Philip Morris International, Inc.
6.38%, 5/16/2038		50,000		54,287
4.13%, 3/4/2043		180,000		146,752
4.88%, 11/15/2043		50,000		44,884
4.25%, 11/10/2044		200,000		165,919

				1,216,090

Trading Companies & Distributors - 0.1%
WW Grainger, Inc.
4.20%, 5/15/2047		50,000		43,472

Water Utilities - 0.2%
American Water Capital Corp.
3.45%, 5/1/2050		20,000		14,851
3.25%, 6/1/2051		20,000		14,298
Essential Utilities, Inc.
5.30%, 5/1/2052		50,000		46,879

				76,028

Wireless Telecommunication Services - 1.3%
America Movil SAB de CV
6.13%, 3/30/2040		100,000		105,593
Rogers Communications, Inc.
4.50%, 3/15/2042		30,000		24,730
5.00%, 3/15/2044		30,000		26,206
4.30%, 2/15/2048		30,000		23,027
4.35%, 5/1/2049		90,000		70,242
4.55%, 3/15/2052		60,000		47,518
T-Mobile USA, Inc.
4.50%, 4/15/2050		30,000		25,635
3.40%, 10/15/2052		30,000		21,068
5.75%, 1/15/2054		30,000		30,640
5.80%, 9/15/2062		30,000		30,157

				404,816

TOTAL CORPORATE BONDS (COST $35,481,857)				31,228,826

Total Investments - 96.1% (Cost $35,481,857)				31,228,826
Other assets less liabilities - 3.9%				1,257,780

Net Assets - 100.0%				32,486,606


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 97.4%

Aerospace & Defense - 2.7%
Bombardier, Inc.
7.13%, 6/15/2026(a)		2,175,000		2,157,830
7.88%, 4/15/2027(a)		750,000		747,611
BWX Technologies, Inc.
4.13%, 6/30/2028(a)		790,000		719,046
4.13%, 4/15/2029(a)		540,000		484,650
F-Brasile SpA
Series NR, 7.38%, 8/15/2026(a)		1,650,000		1,516,733
Howmet Aerospace, Inc.
5.95%, 2/1/2037		685,000		696,431
Moog, Inc.
4.25%, 12/15/2027(a)		665,000		616,216
Rolls-Royce plc
5.75%, 10/15/2027(a)		1,000,000		985,465
Spirit AeroSystems, Inc.
7.50%, 4/15/2025(a)		845,000		844,620
TransDigm UK Holdings plc
6.88%, 5/15/2026		850,000		845,825
TransDigm, Inc.
6.25%, 3/15/2026(a)		1,625,000		1,616,251
7.50%, 3/15/2027		1,125,000		1,124,551
5.50%, 11/15/2027		5,830,000		5,525,762
6.75%, 8/15/2028(a)		4,175,000		4,187,458
4.63%, 1/15/2029		3,835,000		3,422,738
4.88%, 5/1/2029		1,901,000		1,710,540
Triumph Group, Inc.
7.75%, 8/15/2025		2,300,000		2,221,036
9.00%, 3/15/2028(a)		2,770,000		2,845,162

				32,267,925

Air Freight & Logistics - 0.3%
Rand Parent LLC
8.50%, 2/15/2030(a)		3,930,000		3,695,432

Automobile Components - 2.2%
Allison Transmission, Inc.
4.75%, 10/1/2027(a)		515,000		486,721
3.75%, 1/30/2031(a)		610,000		515,682
American Axle & Manufacturing, Inc.
6.25%, 3/15/2026		300,000		292,521
6.50%, 4/1/2027		1,390,000		1,353,116
6.88%, 7/1/2028		500,000		473,032
Dana, Inc.
4.25%, 9/1/2030		200,000		170,903
Dealer Tire LLC
8.00%, 2/1/2028(a)		885,000		813,914
Icahn Enterprises LP
4.75%, 9/15/2024		1,250,000		1,209,256
6.38%, 12/15/2025		3,010,000		2,880,656
6.25%, 5/15/2026		4,250,000		3,984,117


Investments	Principal Amount ($)		Value ($)
5.25%, 5/15/2027		6,780,000		5,976,576
4.38%, 2/1/2029		1,465,000		1,188,251
IHO Verwaltungs GmbH
4.75%, 9/15/2026(a)(b)		655,000		603,302
6.00%, 5/15/2027(a)(b)		565,000		535,194
6.37%, 5/15/2029(a)(b)		655,000		608,838
JB Poindexter & Co., Inc.
7.13%, 4/15/2026(a)		1,010,000		997,102
Patrick Industries, Inc.
7.50%, 10/15/2027(a)		535,000		525,637
4.75%, 5/1/2029(a)		1,420,000		1,225,658
Real Hero Merger Sub 2, Inc.
6.25%, 2/1/2029(a)		1,535,000		1,238,270
ZF North America Capital, Inc.
6.88%, 4/14/2028(a)		335,000		340,238
7.13%, 4/14/2030(a)		815,000		839,517

				26,258,501

Automobiles - 1.4%
Ford Motor Co.
6.63%, 10/1/2028		775,000		798,188
6.38%, 2/1/2029		305,000		301,561
9.63%, 4/22/2030		130,000		151,724
3.25%, 2/12/2032		2,335,000		1,846,130
6.10%, 8/19/2032		1,295,000		1,252,879
4.75%, 1/15/2043		1,501,000		1,174,349
7.40%, 11/1/2046		485,000		505,732
5.29%, 12/8/2046		835,000		690,161
Jaguar Land Rover Automotive plc
7.75%, 10/15/2025(a)		670,000		677,976
4.50%, 10/1/2027(a)		1,735,000		1,552,797
5.88%, 1/15/2028(a)		1,716,000		1,603,860
5.50%, 7/15/2029(a)		2,307,000		2,041,432
Mclaren Finance plc
7.50%, 8/1/2026(a)		1,690,000		1,504,688
PM General Purchaser LLC
9.50%, 10/1/2028(a)		1,000,000		980,001
Thor Industries, Inc.
4.00%, 10/15/2029(a)		930,000		798,896
Winnebago Industries, Inc.
6.25%, 7/15/2028(a)		350,000		339,590

				16,219,964

Banks - 0.5%
Intesa Sanpaolo SpA
5.71%, 1/15/2026(a)		250,000		241,355
4.20%, 6/1/2032(a)(c)		390,000		300,340
4.95%, 6/1/2042(a)(c)		500,000		334,267
Pacific Western Bank
3.25%, 5/1/2031(c)		750,000		630,000
Texas Capital Bancshares, Inc.
4.00%, 5/6/2031(c)		1,180,000		944,133
UniCredit SpA
7.30%, 4/2/2034(a)(c)		2,140,000		2,076,678
5.46%, 6/30/2035(a)(c)		1,035,000		903,344

				5,430,117


Investments	Principal Amount ($)		Value ($)
Beverages - 0.0%(d)
Primo Water Holdings, Inc.
4.38%, 4/30/2029(a)		475,000		417,069

Biotechnology - 0.0%(d)
Grifols SA
4.75%, 10/15/2028(a)		690,000		604,933

Broadline Retail - 0.8%
ANGI Group LLC
3.88%, 8/15/2028(a)		815,000		684,433
Go Daddy Operating Co. LLC
3.50%, 3/1/2029(a)		500,000		429,949
Macy’s Retail Holdings LLC
6.13%, 3/15/2032(a)		140,000		124,942
4.50%, 12/15/2034		66,000		48,150
Millennium Escrow Corp.
6.63%, 8/1/2026(a)		3,855,000		2,872,597
NMG Holding Co., Inc.
7.13%, 4/1/2026(a)		1,445,000		1,350,522
QVC, Inc.
4.45%, 2/15/2025		1,805,000		1,535,252
Rakuten Group, Inc.
10.25%, 11/30/2024(a)		2,006,000		2,001,378

				9,047,223

Building Products - 1.8%
Builders FirstSource, Inc.
4.25%, 2/1/2032(a)		1,355,000		1,175,767
Camelot Return Merger Sub, Inc.
8.75%, 8/1/2028(a)		1,735,000		1,692,120
Cornerstone Building Brands, Inc.
6.13%, 1/15/2029(a)		595,000		492,362
CP Atlas Buyer, Inc.
7.00%, 12/1/2028(a)		1,349,000		1,113,222
Eco Material Technologies, Inc.
7.88%, 1/31/2027(a)		940,000		897,700
Emerald Debt Merger Sub LLC
6.63%, 12/15/2030(a)		1,690,000		1,679,437
Griffon Corp.
5.75%, 3/1/2028		2,040,000		1,919,967
James Hardie International Finance DAC
5.00%, 1/15/2028(a)		670,000		636,692
JELD-WEN, Inc.
4.88%, 12/15/2027(a)		1,255,000		1,126,362
Masonite International Corp.
5.38%, 2/1/2028(a)		930,000		885,825
MIWD Holdco II LLC
5.50%, 2/1/2030(a)		1,190,000		1,005,550
New Enterprise Stone & Lime Co., Inc.
5.25%, 7/15/2028(a)		965,000		897,450
Oscar Acquisition Co. LLC
9.50%, 4/15/2030(a)		1,085,000		1,033,463
Smyrna Ready Mix Concrete LLC
6.00%, 11/1/2028(a)		2,190,000		2,087,532
Standard Industries, Inc.
5.00%, 2/15/2027(a)		1,125,000		1,077,428
4.75%, 1/15/2028(a)		620,000		577,640


Investments	Principal Amount ($)		Value ($)
4.38%, 7/15/2030(a)		1,340,000		1,163,234
3.38%, 1/15/2031(a)		1,220,000		985,217
Victors Merger Corp.
6.38%, 5/15/2029(a)		1,400,000		989,572

				21,436,540

Capital Markets - 0.6%
Advisor Group Holdings, Inc.
10.75%, 8/1/2027(a)		485,000		497,313
AG TTMT Escrow Issuer LLC
8.63%, 9/30/2027(a)		585,000		603,193
Aretec Escrow Issuer, Inc.
7.50%, 4/1/2029(a)		970,000		873,547
Brightsphere Investment Group, Inc.
4.80%, 7/27/2026		185,000		177,273
Coinbase Global, Inc.
3.38%, 10/1/2028(a)		3,500,000		2,450,196
3.63%, 10/1/2031(a)		2,039,000		1,286,677
Compass Group Diversified Holdings LLC
5.25%, 4/15/2029(a)		730,000		664,596
Jane Street Group
4.50%, 11/15/2029(a)		790,000		693,125

				7,245,920

Chemicals - 4.5%
Ashland, Inc.
3.38%, 9/1/2031(a)		2,040,000		1,654,175
6.88%, 5/15/2043		1,275,000		1,265,141
ASP Unifrax Holdings, Inc.
5.25%, 9/30/2028(a)		3,406,000		2,537,470
7.50%, 9/30/2029(a)		1,204,000		699,925
Cerdia Finanz GmbH
10.50%, 2/15/2027(a)		945,000		930,847
Chemours Co. (The)
5.38%, 5/15/2027		825,000		785,109
5.75%, 11/15/2028(a)		1,840,000		1,688,222
4.63%, 11/15/2029(a)		1,745,000		1,472,902
Cornerstone Chemical Co.
10.25%, 9/1/2027(a)(b)		500,000		437,663
CVR Partners LP
6.13%, 6/15/2028(a)		3,005,000		2,713,790
Element Solutions, Inc.
3.88%, 9/1/2028(a)		604,000		533,794
FXI Holdings, Inc.
12.25%, 11/15/2026(a)		3,966,000		3,679,775
Gates Global LLC
6.25%, 1/15/2026(a)		525,000		518,462
GPD Cos., Inc.
10.13%, 4/1/2026(a)		2,490,000		2,313,213
HB Fuller Co.
4.00%, 2/15/2027		555,000		522,974
4.25%, 10/15/2028		295,000		262,794
Herens Holdco Sarl
4.75%, 5/15/2028(a)		810,000		616,305
Illuminate Buyer LLC
9.00%, 7/1/2028(a)		1,210,000		1,105,928
INEOS Finance plc
6.75%, 5/15/2028(a)		210,000		200,330


Investments	Principal Amount ($)		Value ($)
INEOS Quattro Finance 2 plc
3.38%, 1/15/2026(a)		260,000		236,455
Ingevity Corp.
3.88%, 11/1/2028(a)		1,485,000		1,281,722
Iris Holding, Inc.
10.00%, 12/15/2028(a)		1,050,000		826,875
LSB Industries, Inc.
6.25%, 10/15/2028(a)		1,390,000		1,276,020
Methanex Corp.
5.25%, 12/15/2029		900,000		823,911
Minerals Technologies, Inc.
5.00%, 7/1/2028(a)		505,000		466,729
NOVA Chemicals Corp.
5.00%, 5/1/2025(a)		887,000		851,797
5.25%, 6/1/2027(a)		4,865,000		4,381,524
4.25%, 5/15/2029(a)		1,625,000		1,350,825
Olin Corp.
5.13%, 9/15/2027		870,000		831,633
Olympus Water US Holding Corp.
7.13%, 10/1/2027(a)		910,000		828,501
4.25%, 10/1/2028(a)		1,350,000		1,081,946
9.75%, 11/15/2028(a)		1,175,000		1,136,812
6.25%, 10/1/2029(a)		830,000		611,802
Polar US Borrower LLC
6.75%, 5/15/2026(a)		1,500,000		870,000
SCIH Salt Holdings, Inc.
4.88%, 5/1/2028(a)		1,593,000		1,425,292
SCIL IV LLC
5.38%, 11/1/2026(a)		1,180,000		1,084,606
SK Invictus Intermediate II Sarl
5.00%, 10/30/2029(a)		3,337,000		2,645,340
Trinseo Materials Operating SCA
5.38%, 9/1/2025(a)		2,165,000		1,968,041
Tronox, Inc.
4.63%, 3/15/2029(a)		890,000		737,791
Vibrantz Technologies, Inc.
9.00%, 2/15/2030(a)		2,015,000		1,644,744
WR Grace Holdings LLC
4.88%, 6/15/2027(a)		305,000		287,501
5.63%, 8/15/2029(a)		3,145,000		2,654,034

				53,242,720

Commercial Services & Supplies - 4.4%
ACCO Brands Corp.
4.25%, 3/15/2029(a)		510,000		435,134
ADT Security Corp. (The)
4.13%, 8/1/2029(a)		1,255,000		1,088,712
4.88%, 7/15/2032(a)		601,000		516,109
Allied Universal Holdco LLC
6.63%, 7/15/2026(a)		3,415,000		3,261,036
9.75%, 7/15/2027(a)		2,715,000		2,489,896
4.63%, 6/1/2028(a)		3,595,000		3,053,945
6.00%, 6/1/2029(a)		2,000,000		1,525,650
Aptim Corp.
7.75%, 6/15/2025(a)		900,000		729,000
APX Group, Inc.
6.75%, 2/15/2027(a)		1,160,000		1,131,000
5.75%, 7/15/2029(a)		3,845,000		3,337,905


Investments	Principal Amount ($)		Value ($)
Cimpress plc
7.00%, 6/15/2026		880,000		830,500
CoreCivic, Inc.
4.75%, 10/15/2027		435,000		383,396
Covanta Holding Corp.
4.88%, 12/1/2029(a)		400,000		353,245
5.00%, 9/1/2030		460,000		397,900
Deluxe Corp.
8.00%, 6/1/2029(a)		2,325,000		1,953,000
Enviri Corp.
5.75%, 7/31/2027(a)		1,345,000		1,161,744
Garda World Security Corp.
4.63%, 2/15/2027(a)		710,000		655,805
9.50%, 11/1/2027(a)		1,120,000		1,096,318
7.75%, 2/15/2028(a)		460,000		457,581
GFL Environmental, Inc.
4.00%, 8/1/2028(a)		1,670,000		1,494,553
4.75%, 6/15/2029(a)		175,000		159,629
4.38%, 8/15/2029(a)		550,000		490,416
Interface, Inc.
5.50%, 12/1/2028(a)		1,405,000		1,178,168
Legends Hospitality Holding Co. LLC
5.00%, 2/1/2026(a)		545,000		511,237
Neptune Bidco US, Inc.
9.29%, 4/15/2029(a)		12,935,000		11,898,317
Prime Security Services Borrower LLC
5.75%, 4/15/2026(a)		2,745,000		2,691,235
3.38%, 8/31/2027(a)		2,330,000		2,056,801
6.25%, 1/15/2028(a)		3,550,000		3,342,078
Steelcase, Inc.
5.13%, 1/18/2029		1,515,000		1,341,373
Stericycle, Inc.
3.88%, 1/15/2029(a)		485,000		425,728
WASH Multifamily Acquisition, Inc.
5.75%, 4/15/2026(a)		1,055,000		981,611
Waste Pro USA, Inc.
5.50%, 2/15/2026(a)		785,000		743,787

				52,172,809

Communications Equipment - 0.0%(d)
CommScope, Inc.
6.00%, 3/1/2026(a)		250,000		229,379

Construction & Engineering - 1.0%
AECOM
5.13%, 3/15/2027		2,365,000		2,283,060
Arcosa, Inc.
4.38%, 4/15/2029(a)		710,000		639,035
Artera Services LLC
9.03%, 12/4/2025(a)		2,894,000		2,720,897
Brundage-Bone Concrete Pumping Holdings, Inc.
6.00%, 2/1/2026(a)		995,000		955,707
Dycom Industries, Inc.
4.50%, 4/15/2029(a)		730,000		659,648
Global Infrastructure Solutions, Inc.
5.63%, 6/1/2029(a)		1,053,000		886,652
7.50%, 4/15/2032(a)		1,241,000		1,050,116


Investments	Principal Amount ($)		Value ($)
HTA Group Ltd.
7.00%, 12/18/2025(a)		665,000		633,851
Railworks Holdings LP
8.25%, 11/15/2028(a)		485,000		457,290
VM Consolidated, Inc.
5.50%, 4/15/2029(a)		395,000		362,450
Weekley Homes LLC
4.88%, 9/15/2028(a)		680,000		610,330

				11,259,036

Consumer Finance - 2.4%
Cobra Acquisition Co. LLC
6.38%, 11/1/2029(a)		955,000		649,400
Credit Acceptance Corp.
6.63%, 3/15/2026		595,000		583,884
Enova International, Inc.
8.50%, 9/15/2025(a)		670,000		660,017
Finance of America Funding LLC
7.88%, 11/15/2025(a)		580,000		483,849
FirstCash, Inc.
5.63%, 1/1/2030(a)		2,500,000		2,307,510
Ford Holdings LLC
9.30%, 3/1/2030		540,000		600,458
Ford Motor Credit Co. LLC
4.13%, 8/4/2025		250,000		238,449
3.38%, 11/13/2025		1,000,000		934,978
6.95%, 3/6/2026		2,550,000		2,575,143
4.54%, 8/1/2026		1,710,000		1,616,009
2.70%, 8/10/2026		235,000		210,657
4.27%, 1/9/2027		1,535,000		1,432,948
4.95%, 5/28/2027		2,205,000		2,092,444
4.13%, 8/17/2027		935,000		855,581
3.82%, 11/2/2027		1,240,000		1,113,084
7.35%, 11/4/2027		2,490,000		2,551,692
2.90%, 2/16/2028		435,000		374,290
6.80%, 5/12/2028		265,000		267,435
5.11%, 5/3/2029		2,037,000		1,902,089
7.35%, 3/6/2030		2,370,000		2,453,464
4.00%, 11/13/2030		195,000		167,513
goeasy Ltd.
4.38%, 5/1/2026(a)		525,000		479,307
LFS Topco LLC
5.88%, 10/15/2026(a)		390,000		347,241
Macquarie Airfinance Holdings Ltd.
8.38%, 5/1/2028(a)		885,000		901,098
OneMain Finance Corp.
7.13%, 3/15/2026		1,360,000		1,347,228
3.88%, 9/15/2028		500,000		410,625
Synchrony Financial
7.25%, 2/2/2033		700,000		656,391
World Acceptance Corp.
7.00%, 11/1/2026(a)		380,000		333,568

				28,546,352

Consumer Staples Distribution & Retail - 0.5%
C&S Group Enterprises LLC
5.00%, 12/15/2028(a)		620,000		479,952
Ingles Markets, Inc.
4.00%, 6/15/2031(a)		1,105,000		935,551


Investments	Principal Amount ($)		Value ($)
Performance Food Group, Inc.
5.50%, 10/15/2027(a)		140,000		135,561
4.25%, 8/1/2029(a)		400,000		355,327
Rite Aid Corp.
7.50%, 7/1/2025(a)		2,060,000		1,215,400
United Natural Foods, Inc.
6.75%, 10/15/2028(a)		2,926,000		2,437,475

				5,559,266

Containers & Packaging - 2.0%
Ardagh Metal Packaging Finance USA LLC
3.25%, 9/1/2028(a)		500,000		431,884
4.00%, 9/1/2029(a)		545,000		445,759
Cascades, Inc.
5.13%, 1/15/2026(a)		190,000		182,405
5.38%, 1/15/2028(a)		745,000		700,300
Clydesdale Acquisition Holdings, Inc.
6.63%, 4/15/2029(a)		2,070,000		1,980,321
8.75%, 4/15/2030(a)		5,209,000		4,722,034
Graham Packaging Co., Inc.
7.13%, 8/15/2028(a)		2,235,000		1,956,720
Intelligent Packaging Ltd. Finco, Inc.
6.00%, 9/15/2028(a)		1,825,000		1,614,997
LABL, Inc.
10.50%, 7/15/2027(a)		1,305,000		1,242,844
8.25%, 11/1/2029(a)		750,000		622,320
Mauser Packaging Solutions Holding Co.
7.88%, 8/15/2026(a)		4,120,000		4,108,881
9.25%, 4/15/2027(a)		2,572,000		2,389,516
Pactiv Evergreen Group Issuer LLC
4.38%, 10/15/2028(a)		490,000		433,157
Pactiv LLC
7.95%, 12/15/2025		275,000		276,403
Sealed Air Corp.
6.88%, 7/15/2033(a)		150,000		156,861
Trivium Packaging Finance BV
5.50%, 8/15/2026(a)(e)		1,250,000		1,187,611
8.50%, 8/15/2027(a)(e)		1,510,000		1,452,565

				23,904,578

Distributors - 0.4%
American Builders & Contractors Supply Co., Inc.
4.00%, 1/15/2028(a)		400,000		366,516
BCPE Empire Holdings, Inc.
7.63%, 5/1/2027(a)		1,150,000		1,093,685
Resideo Funding, Inc.
4.00%, 9/1/2029(a)		250,000		211,335
Windsor Holdings III LLC
8.50%, 6/15/2030(a)		3,000,000		3,015,000

				4,686,536

Diversified Consumer Services - 0.6%
Adtalem Global Education, Inc.
5.50%, 3/1/2028(a)		1,305,000		1,214,078
Grand Canyon University
4.13%, 10/1/2024		2,732,000		2,579,008
5.13%, 10/1/2028		1,130,000		1,042,052
Service Corp. International
3.38%, 8/15/2030		525,000		437,738
4.00%, 5/15/2031		450,000		383,625


Investments	Principal Amount ($)		Value ($)
Signal Parent, Inc.
6.13%, 4/1/2029(a)		1,085,000		660,380
StoneMor, Inc.
8.50%, 5/15/2029(a)		1,050,000		883,313

				7,200,194

Diversified REITs - 0.7%
Global Net Lease, Inc.
REIT, 3.75%, 12/15/2027(a)		2,110,000		1,683,776
Iron Mountain Information Management Services, Inc.
REIT, 5.00%, 7/15/2032(a)		1,350,000		1,168,276
Uniti Group LP
REIT, 10.50%, 2/15/2028(a)		4,855,000		4,825,968

				7,678,020

Diversified Telecommunication Services - 5.6%
Altice France Holding SA
10.50%, 5/15/2027(a)		4,580,000		1,937,994
6.00%, 2/15/2028(a)		5,578,000		2,075,890
Altice France SA
8.13%, 2/1/2027(a)		3,535,000		2,891,564
5.50%, 1/15/2028(a)		2,250,000		1,651,009
5.13%, 1/15/2029(a)		985,000		686,560
5.13%, 7/15/2029(a)		4,420,000		3,095,394
5.50%, 10/15/2029(a)		3,500,000		2,485,024
British Telecommunications plc
4.88%, 11/23/2081(a)(c)		500,000		409,797
CCO Holdings LLC
5.13%, 5/1/2027(a)		1,760,000		1,651,229
5.00%, 2/1/2028(a)		1,050,000		970,338
5.38%, 6/1/2029(a)		1,480,000		1,352,504
6.38%, 9/1/2029(a)		2,455,000		2,347,424
4.75%, 3/1/2030(a)		1,905,000		1,651,191
4.50%, 8/15/2030(a)		1,135,000		961,682
4.25%, 2/1/2031(a)		1,320,000		1,085,161
4.75%, 2/1/2032(a)		680,000		561,414
4.50%, 5/1/2032		1,337,000		1,090,141
4.50%, 6/1/2033(a)		2,260,000		1,788,338
Embarq Corp.
8.00%, 6/1/2036		4,095,000		2,314,985
Frontier California, Inc.
Series F, 6.75%, 5/15/2027		215,000		197,800
Frontier Communications Holdings LLC
5.00%, 5/1/2028(a)		170,000		144,060
8.75%, 5/15/2030(a)		1,530,000		1,476,120
Frontier Florida LLC
Series E, 6.86%, 2/1/2028		370,000		340,400
Iliad Holding SASU
7.00%, 10/15/2028(a)		2,025,000		1,901,154
Intelsat Jackson Holdings SA
6.50%, 3/15/2030(a)		3,295,000		3,009,905
Level 3 Financing, Inc.
4.63%, 9/15/2027(a)		2,435,000		1,849,761
4.25%, 7/1/2028(a)		2,370,000		1,677,358
3.63%, 1/15/2029(a)		770,000		508,332
3.75%, 7/15/2029(a)		868,000		569,131


Investments	Principal Amount ($)		Value ($)
Lumen Technologies, Inc.
5.63%, 4/1/2025		490,000		377,300
5.13%, 12/15/2026(a)		1,810,000		941,200
4.00%, 2/15/2027(a)		4,510,000		2,965,956
Series G, 6.88%, 1/15/2028		750,000		337,500
4.50%, 1/15/2029(a)		3,135,000		1,285,350
5.38%, 6/15/2029(a)		2,000,000		887,080
Telecom Italia Capital SA
6.00%, 9/30/2034		840,000		679,471
7.20%, 7/18/2036		707,000		607,343
Telesat Canada
5.63%, 12/6/2026(a)		1,335,000		801,000
4.88%, 6/1/2027(a)		1,260,000		738,889
Virgin Media Finance plc
5.00%, 7/15/2030(a)		3,835,000		3,146,817
Virgin Media Secured Finance plc
4.50%, 8/15/2030(a)		505,000		432,575
Windstream Escrow LLC
7.75%, 8/15/2028(a)		2,671,000		2,249,679
Zayo Group Holdings, Inc.
4.00%, 3/1/2027(a)		7,010,000		5,013,243
6.13%, 3/1/2028(a)		4,270,000		2,632,609

				65,777,672

Electric Utilities - 0.9%
Edison International
8.12%, 6/15/2053(c)		965,000		988,006
Leeward Renewable Energy Operations LLC
4.25%, 7/1/2029(a)		445,000		393,923
NextEra Energy Operating Partners LP
3.88%, 10/15/2026(a)		800,000		743,813
4.50%, 9/15/2027(a)		1,720,000		1,611,124
NRG Energy, Inc.
5.75%, 1/15/2028		1,800,000		1,714,255
5.25%, 6/15/2029(a)		980,000		884,425
3.63%, 2/15/2031(a)		555,000		435,550
PG&E Corp.
5.25%, 7/1/2030		805,000		722,962
Vistra Operations Co. LLC
5.63%, 2/15/2027(a)		2,000,000		1,933,858
5.00%, 7/31/2027(a)		1,060,000		998,605

				10,426,521

Electrical Equipment - 0.0%(d)
EnerSys
4.38%, 12/15/2027(a)		535,000		496,049

Electronic Equipment, Instruments & Components - 0.0%(d)
Likewize Corp.
9.75%, 10/15/2025(a)		446,000		430,171

Energy Equipment & Services - 1.7%
Archrock Partners LP
6.88%, 4/1/2027(a)		810,000		789,741
6.25%, 4/1/2028(a)		2,155,000		2,031,088
CGG SA
8.75%, 4/1/2027(a)		2,230,000		1,884,818


Investments	Principal Amount ($)		Value ($)
Nabors Industries Ltd.
7.25%, 1/15/2026(a)		245,000		235,876
Noble Finance II LLC
8.00%, 4/15/2030(a)		1,640,000		1,687,150
Oceaneering International, Inc.
6.00%, 2/1/2028		500,000		473,750
Patterson-UTI Energy, Inc.
5.15%, 11/15/2029		325,000		301,682
Precision Drilling Corp.
6.88%, 1/15/2029(a)		460,000		433,766
USA Compression Partners LP
6.88%, 4/1/2026		2,000,000		1,982,006
6.88%, 9/1/2027		3,693,000		3,557,506
Valaris Ltd.
8.38%, 4/30/2030(a)		2,735,000		2,798,452
Weatherford International Ltd.
8.63%, 4/30/2030(a)		3,265,000		3,346,223

				19,522,058

Entertainment - 0.5%
Allen Media LLC
10.50%, 2/15/2028(a)		1,895,000		1,075,413
Cinemark USA, Inc.
5.88%, 3/15/2026(a)		725,000		686,249
5.25%, 7/15/2028(a)		2,200,000		1,924,361
Lions Gate Capital Holdings LLC
5.50%, 4/15/2029(a)		345,000		236,042
Live Nation Entertainment, Inc.
4.75%, 10/15/2027(a)		1,975,000		1,834,281
WMG Acquisition Corp.
3.75%, 12/1/2029(a)		500,000		436,621

				6,192,967

Financial Services - 2.0%
Armor Holdco, Inc.
8.50%, 11/15/2029(a)		960,000		812,955
Burford Capital Global Finance LLC
6.88%, 4/15/2030(a)		40,000		36,394
Freedom Mortgage Corp.
8.25%, 4/15/2025(a)		765,000		755,962
7.63%, 5/1/2026(a)		900,000		823,334
6.63%, 1/15/2027(a)		1,435,000		1,262,563
Home Point Capital, Inc.
5.00%, 2/1/2026(a)		880,000		821,243
Jefferies Finance LLC
5.00%, 8/15/2028(a)		1,640,000		1,401,432
Jefferson Capital Holdings LLC
6.00%, 8/15/2026(a)		1,431,000		1,210,289
MGIC Investment Corp.
5.25%, 8/15/2028		1,615,000		1,537,673
Midcap Financial Issuer Trust
6.50%, 5/1/2028(a)		2,350,000		2,071,872
5.63%, 1/15/2030(a)		1,530,000		1,224,410
Nationstar Mortgage Holdings, Inc.
6.00%, 1/15/2027(a)		1,000,000		955,620
5.50%, 8/15/2028(a)		1,561,000		1,413,798
5.13%, 12/15/2030(a)		275,000		231,744
5.75%, 11/15/2031(a)		470,000		398,841


Investments	Principal Amount ($)		Value ($)
NMI Holdings, Inc.
7.38%, 6/1/2025(a)		335,000		338,291
Oxford Finance LLC
6.38%, 2/1/2027(a)		585,000		546,271
PennyMac Financial Services, Inc.
5.38%, 10/15/2025(a)		1,170,000		1,118,064
4.25%, 2/15/2029(a)		550,000		454,046
5.75%, 9/15/2031(a)		505,000		427,200
PHH Mortgage Corp.
7.88%, 3/15/2026(a)		1,025,000		922,705
Rocket Mortgage LLC
2.88%, 10/15/2026(a)		1,000,000		890,000
3.63%, 3/1/2029(a)		400,000		340,993
3.88%, 3/1/2031(a)		960,000		789,600
4.00%, 10/15/2033(a)		1,130,000		896,249
United Wholesale Mortgage LLC
5.50%, 11/15/2025(a)		445,000		427,818
5.75%, 6/15/2027(a)		565,000		528,631
5.50%, 4/15/2029(a)		1,210,000		1,063,744

				23,701,742

Food Products - 1.1%
B&G Foods, Inc.
5.25%, 4/1/2025		2,070,000		1,972,096
5.25%, 9/15/2027		1,115,000		961,521
Lamb Weston Holdings, Inc.
4.13%, 1/31/2030(a)		900,000		794,291
4.38%, 1/31/2032(a)		3,220,000		2,827,718
Post Holdings, Inc.
5.63%, 1/15/2028(a)		1,680,000		1,623,451
5.50%, 12/15/2029(a)		750,000		696,509
4.63%, 4/15/2030(a)		879,000		774,598
4.50%, 9/15/2031(a)		1,540,000		1,311,139
Sigma Holdco BV
7.88%, 5/15/2026(a)		715,000		624,360
Simmons Foods, Inc.
4.63%, 3/1/2029(a)		625,000		521,875
TreeHouse Foods, Inc.
4.00%, 9/1/2028		500,000		436,625

				12,544,183

Gas Utilities - 1.3%
AmeriGas Partners LP
5.50%, 5/20/2025		2,205,000		2,139,742
5.88%, 8/20/2026		3,935,000		3,710,020
5.75%, 5/20/2027		2,482,000		2,267,062
9.38%, 6/1/2028(a)		1,000,000		1,019,400
Ferrellgas LP
5.38%, 4/1/2026(a)		1,345,000		1,266,514
5.88%, 4/1/2029(a)		485,000		417,101
Suburban Propane Partners LP
5.88%, 3/1/2027		585,000		572,589
5.00%, 6/1/2031(a)		3,070,000		2,620,092
Superior Plus LP
4.50%, 3/15/2029(a)		1,595,000		1,401,916

				15,414,436

Ground Transportation - 1.2%
Albion Financing 1 Sarl
6.13%, 10/15/2026(a)		1,630,000		1,536,275


Investments	Principal Amount ($)		Value ($)
Albion Financing 2SARL
8.75%, 4/15/2027(a)		2,075,000		1,922,510
Avis Budget Car Rental LLC
5.75%, 7/15/2027(a)		630,000		592,912
Carriage Purchaser, Inc.
7.88%, 10/15/2029(a)		805,000		633,841
EquipmentShare.com, Inc.
9.00%, 5/15/2028(a)		1,740,000		1,724,723
First Student Bidco, Inc.
4.00%, 7/31/2029(a)		505,000		427,920
Hertz Corp. (The)
4.63%, 12/1/2026(a)		800,000		722,760
5.00%, 12/1/2029(a)		3,335,000		2,755,014
NESCO Holdings II, Inc.
5.50%, 4/15/2029(a)		1,570,000		1,427,915
PECF USS Intermediate Holding III Corp.
8.00%, 11/15/2029(a)		2,495,000		1,378,487
Uber Technologies, Inc.
4.50%, 8/15/2029(a)		630,000		582,288

				13,704,645

Health Care Equipment & Supplies - 0.3%
Garden Spinco Corp.
8.63%, 7/20/2030(a)		105,000		113,319
Hologic, Inc.
4.63%, 2/1/2028(a)		608,000		577,928
Medline Borrower LP
5.25%, 10/1/2029(a)		1,915,000		1,698,947
Teleflex, Inc.
4.63%, 11/15/2027		870,000		821,062
Varex Imaging Corp.
7.88%, 10/15/2027(a)		9,000		9,000

				3,220,256

Health Care Providers & Services - 3.2%
180 Medical, Inc.
3.88%, 10/15/2029(a)		450,000		393,989
Acadia Healthcare Co., Inc.
5.50%, 7/1/2028(a)		630,000		603,225
AdaptHealth LLC
6.13%, 8/1/2028(a)		975,000		873,457
AHP Health Partners, Inc.
5.75%, 7/15/2029(a)		1,617,000		1,407,922
Community Health Systems, Inc.
8.00%, 3/15/2026(a)		790,000		775,773
6.88%, 4/15/2029(a)		1,000,000		662,758
6.13%, 4/1/2030(a)		665,000		419,165
DaVita, Inc.
4.63%, 6/1/2030(a)		2,123,000		1,811,559
3.75%, 2/15/2031(a)		1,615,000		1,291,414
Encompass Health Corp.
4.75%, 2/1/2030		485,000		440,833
4.63%, 4/1/2031		250,000		222,153
Global Medical Response, Inc.
6.50%, 10/1/2025(a)		3,040,000		1,805,334
HealthEquity, Inc.
4.50%, 10/1/2029(a)		600,000		537,460
Heartland Dental LLC
8.50%, 5/1/2026(a)		600,000		540,074


Investments	Principal Amount ($)		Value ($)
10.50%, 4/30/2028(a)		1,125,000		1,127,812
Kedrion SpA
6.50%, 9/1/2029(a)		265,000		227,900
Legacy LifePoint Health LLC
6.75%, 4/15/2025(a)		800,000		812,296
4.38%, 2/15/2027(a)		2,745,000		2,367,562
LifePoint Health, Inc.
5.38%, 1/15/2029(a)		1,825,000		1,291,726
ModivCare, Inc.
5.88%, 11/15/2025(a)		1,174,000		1,088,885
Molina Healthcare, Inc.
4.38%, 6/15/2028(a)		1,605,000		1,471,667
3.88%, 11/15/2030(a)		3,010,000		2,574,839
3.88%, 5/15/2032(a)		3,400,000		2,836,371
Option Care Health, Inc.
4.38%, 10/31/2029(a)		300,000		264,866
Pediatrix Medical Group, Inc.
5.38%, 2/15/2030(a)		25,000		22,574
Prime Healthcare Services, Inc.
7.25%, 11/1/2025(a)		1,200,000		1,139,989
Radiology Partners, Inc.
9.25%, 2/1/2028(a)		1,885,000		725,725
RegionalCare Hospital Partners Holdings, Inc.
9.75%, 12/1/2026(a)		2,360,000		2,212,893
RP Escrow Issuer LLC
5.25%, 12/15/2025(a)		4,055,000		2,764,849
Select Medical Corp.
6.25%, 8/15/2026(a)		250,000		247,870
Team Health Holdings, Inc.
6.38%, 2/1/2025(a)		955,000		487,050
Tenet Healthcare Corp.
5.13%, 11/1/2027		2,215,000		2,103,348
6.13%, 10/1/2028		250,000		238,148
6.88%, 11/15/2031		215,000		215,322
Toledo Hospital (The)
Series B, 5.33%, 11/15/2028		495,000		402,187
6.02%, 11/15/2048		500,000		343,035
US Acute Care Solutions LLC
6.38%, 3/1/2026(a)		1,613,000		1,409,488

				38,161,518

Health Care REITs - 0.7%
CTR Partnership LP
REIT, 3.88%, 6/30/2028(a)		1,200,000		1,066,656
MPT Operating Partnership LP
REIT, 5.25%, 8/1/2026		1,120,000		1,030,868
REIT, 5.00%, 10/15/2027		3,490,000		3,058,751
REIT, 4.63%, 8/1/2029		2,150,000		1,707,768
REIT, 3.50%, 3/15/2031		1,125,000		811,909

				7,675,952

Hotel & Resort REITs - 0.5%
Park Intermediate Holdings LLC
REIT, 5.88%, 10/1/2028(a)		1,380,000		1,273,050
REIT, 4.88%, 5/15/2029(a)		1,325,000		1,157,719
Service Properties Trust
REIT, 5.25%, 2/15/2026		630,000		575,143
REIT, 4.75%, 10/1/2026		770,000		673,935


Investments	Principal Amount ($)		Value ($)
REIT, 4.95%, 2/15/2027		985,000		844,454
REIT, 3.95%, 1/15/2028		685,000		536,482
REIT, 4.95%, 10/1/2029		500,000		384,825
XHR LP
REIT, 4.88%, 6/1/2029(a)		240,000		208,776

				5,654,384

Hotels, Restaurants & Leisure - 5.5%
Affinity Interactive
6.88%, 12/15/2027(a)		995,000		880,257
Boyd Gaming Corp.
4.75%, 6/15/2031(a)		400,000		357,910
Carnival Corp.
10.50%, 2/1/2026(a)		600,000		632,469
CDI Escrow Issuer, Inc.
5.75%, 4/1/2030(a)		1,010,000		938,038
CEC Entertainment LLC
6.75%, 5/1/2026(a)		864,000		830,804
Cedar Fair LP
5.38%, 4/15/2027		2,280,000		2,155,399
6.50%, 10/1/2028		445,000		431,301
5.25%, 7/15/2029		1,166,000		1,045,758
Churchill Downs, Inc.
5.50%, 4/1/2027(a)		1,100,000		1,064,045
4.75%, 1/15/2028(a)		1,730,000		1,599,175
6.75%, 5/1/2031(a)		250,000		244,350
Everi Holdings, Inc.
5.00%, 7/15/2029(a)		600,000		528,000
Fertitta Entertainment LLC
4.63%, 1/15/2029(a)		1,225,000		1,068,745
Genting New York LLC
3.30%, 2/15/2026(a)		2,465,000		2,209,655
GPS Hospitality Holding Co. LLC
7.00%, 8/15/2028(a)		870,000		571,757
Hilton Domestic Operating Co., Inc.
3.75%, 5/1/2029(a)		250,000		222,742
4.88%, 1/15/2030		1,000,000		937,500
4.00%, 5/1/2031(a)		1,370,000		1,194,994
3.63%, 2/15/2032(a)		5,440,000		4,564,996
Hilton Grand Vacations Borrower Escrow LLC
5.00%, 6/1/2029(a)		2,225,000		1,988,682
4.88%, 7/1/2031(a)		2,255,000		1,927,618
Jacobs Entertainment, Inc.
6.75%, 2/15/2029(a)		1,305,000		1,188,636
Las Vegas Sands Corp.
3.20%, 8/8/2024		390,000		378,572
3.90%, 8/8/2029		645,000		578,108
Life Time, Inc.
8.00%, 4/15/2026(a)		1,315,000		1,314,880
Lindblad Expeditions Holdings, Inc.
9.00%, 5/15/2028(a)		1,000,000		1,032,630
Lindblad Expeditions LLC
6.75%, 2/15/2027(a)		570,000		546,986
MajorDrive Holdings IV LLC
6.38%, 6/1/2029(a)		1,215,000		993,937
Marriott Ownership Resorts, Inc.
4.75%, 1/15/2028		735,000		664,786
4.50%, 6/15/2029(a)		1,805,000		1,564,718


Investments	Principal Amount ($)		Value ($)
Midwest Gaming Borrower LLC
4.88%, 5/1/2029(a)		1,900,000		1,687,580
Mohegan Tribal Gaming Authority
8.00%, 2/1/2026(a)		5,670,000		5,244,750
Penn Entertainment, Inc.
5.63%, 1/15/2027(a)		660,000		620,760
4.13%, 7/1/2029(a)		715,000		590,572
Raptor Acquisition Corp.
4.88%, 11/1/2026(a)		385,000		360,952
Resorts World Las Vegas LLC
4.63%, 4/16/2029(a)		4,450,000		3,687,639
4.63%, 4/6/2031(a)		455,000		354,974
Royal Caribbean Cruises Ltd.
4.25%, 7/1/2026(a)		1,180,000		1,096,784
5.50%, 8/31/2026(a)		1,855,000		1,779,022
11.63%, 8/15/2027(a)		2,670,000		2,915,429
Scientific Games International, Inc.
7.00%, 5/15/2028(a)		500,000		498,200
SeaWorld Parks & Entertainment, Inc.
5.25%, 8/15/2029(a)		1,085,000		976,500
Six Flags Entertainment Corp.
7.25%, 5/15/2031(a)		420,000		401,221
Sizzling Platter LLC
8.50%, 11/28/2025(a)		330,000		325,050
Speedway Motorsports LLC
4.88%, 11/1/2027(a)		225,000		208,370
Station Casinos LLC
4.50%, 2/15/2028(a)		305,000		276,656
TKC Holdings, Inc.
6.88%, 5/15/2028(a)		930,000		818,692
10.50%, 5/15/2029(a)		2,125,000		1,615,000
Travel + Leisure Co.
6.63%, 7/31/2026(a)		1,175,000		1,169,642
6.00%, 4/1/2027(e)		645,000		632,164
4.50%, 12/1/2029(a)		610,000		524,213
4.63%, 3/1/2030(a)		35,000		30,222
Viking Ocean Cruises Ship VII Ltd.
5.63%, 2/15/2029(a)		390,000		362,790
VOC Escrow Ltd.
5.00%, 2/15/2028(a)		815,000		757,247
Wynn Resorts Finance LLC
5.13%, 10/1/2029(a)		180,000		162,878
Yum! Brands, Inc.
4.75%, 1/15/2030(a)		710,000		662,224
3.63%, 3/15/2031		580,000		497,149
4.63%, 1/31/2032		720,000		652,225
5.38%, 4/1/2032		655,000		620,019
6.88%, 11/15/2037		565,000		605,246
5.35%, 11/1/2043		500,000		448,750

				64,240,368

Household Durables - 1.7%
Ashton Woods USA LLC
6.63%, 1/15/2028(a)		265,000		254,274
4.63%, 8/1/2029(a)		875,000		757,155
4.63%, 4/1/2030(a)		495,000		423,225
Beazer Homes USA, Inc.
5.88%, 10/15/2027		965,000		932,004


Investments	Principal Amount ($)		Value ($)
7.25%, 10/15/2029		835,000		820,645
Brookfield Residential Properties, Inc.
6.25%, 9/15/2027(a)		3,390,000		3,134,055
CD&R Smokey Buyer, Inc.
6.75%, 7/15/2025(a)		900,000		846,018
Empire Communities Corp.
7.00%, 12/15/2025(a)		505,000		485,377
Installed Building Products, Inc.
5.75%, 2/1/2028(a)		495,000		468,704
LGI Homes, Inc.
4.00%, 7/15/2029(a)		615,000		516,663
M/I Homes, Inc.
3.95%, 2/15/2030		5,000		4,325
Mattamy Group Corp.
5.25%, 12/15/2027(a)		720,000		680,822
4.63%, 3/1/2030(a)		1,085,000		951,757
Newell Brands, Inc.
4.88%, 6/1/2025		870,000		841,768
4.70%, 4/1/2026(e)		4,100,000		3,891,716
Shea Homes LP
4.75%, 2/15/2028		870,000		791,700
4.75%, 4/1/2029		245,000		217,489
SWF Escrow Issuer Corp.
6.50%, 10/1/2029(a)		1,595,000		984,955
Taylor Morrison Communities, Inc.
5.75%, 1/15/2028(a)		650,000		633,598
5.13%, 8/1/2030(a)		460,000		429,410
Tempur Sealy International, Inc.
4.00%, 4/15/2029(a)		500,000		433,406
TopBuild Corp.
4.13%, 2/15/2032(a)		1,175,000		1,008,150
Tri Pointe Homes, Inc.
5.25%, 6/1/2027		550,000		531,437
5.70%, 6/15/2028		580,000		556,800

				20,595,453

Household Products - 0.3%
Central Garden & Pet Co.
5.13%, 2/1/2028		545,000		514,469
4.13%, 10/15/2030		250,000		212,541
4.13%, 4/30/2031(a)		100,000		83,483
Energizer Holdings, Inc.
6.50%, 12/31/2027(a)		490,000		476,166
4.75%, 6/15/2028(a)		820,000		736,549
4.38%, 3/31/2029(a)		795,000		689,122
Kronos Acquisition Holdings, Inc.
5.00%, 12/31/2026(a)		445,000		413,850
7.00%, 12/31/2027(a)		915,000		805,401

				3,931,581

Independent Power and Renewable Electricity Producers - 0.4%
Atlantica Sustainable Infrastructure plc
4.13%, 6/15/2028(a)		765,000		692,618
Calpine Corp.
5.13%, 3/15/2028(a)		780,000		707,333
4.63%, 2/1/2029(a)		978,000		842,092
3.75%, 3/1/2031(a)		500,000		409,836
Clearway Energy Operating LLC
3.75%, 2/15/2031(a)		795,000		658,892


Investments	Principal Amount ($)		Value ($)
3.75%, 1/15/2032(a)		395,000		322,840
Talen Energy Supply LLC
8.63%, 6/1/2030(a)		1,210,000		1,255,835
TransAlta Corp.
6.50%, 3/15/2040		240,000		229,542

				5,118,988

Insurance - 0.6%
Acrisure LLC
4.25%, 2/15/2029(a)		440,000		379,391
Assurant, Inc.
7.00%, 3/27/2048(c)		665,000		647,416
Global Atlantic Fin Co.
4.70%, 10/15/2051(a)(c)		2,575,000		1,852,745
Liberty Mutual Group, Inc.
7.80%, 3/15/2037(a)		275,000		284,785
4.12%, 12/15/2051(a)(c)		705,000		563,359
NFP Corp.
4.88%, 8/15/2028(a)		790,000		710,916
6.88%, 8/15/2028(a)		2,405,000		2,128,697
7.50%, 10/1/2030(a)		215,000		209,130
Ohio National Financial Services, Inc.
6.80%, 1/24/2030(a)(e)		220,000		204,598

				6,981,037

Interactive Media & Services - 0.3%
Cars.com, Inc.
6.38%, 11/1/2028(a)		745,000		702,696
Rackspace Technology Global, Inc.
3.50%, 2/15/2028(a)		2,545,000		1,138,356
5.38%, 12/1/2028(a)		2,310,000		639,627
Ziff Davis, Inc.
4.63%, 10/15/2030(a)		200,000		175,252
ZipRecruiter, Inc.
5.00%, 1/15/2030(a)		1,445,000		1,231,862

				3,887,793

IT Services - 0.7%
Acuris Finance US, Inc.
5.00%, 5/1/2028(a)		629,000		499,067
Cogent Communications Group, Inc.
3.50%, 5/1/2026(a)		890,000		825,356
7.00%, 6/15/2027(a)		755,000		728,676
Gartner, Inc.
4.50%, 7/1/2028(a)		1,545,000		1,444,327
3.75%, 10/1/2030(a)		505,000		440,209
ION Trading Technologies Sarl
5.75%, 5/15/2028(a)		400,000		348,000
Newfold Digital Holdings Group, Inc.
6.00%, 2/15/2029(a)		1,740,000		1,283,250
Northwest Fiber LLC
4.75%, 4/30/2027(a)		55,000		47,869
6.00%, 2/15/2028(a)		505,000		398,950
10.75%, 6/1/2028(a)		354,000		324,181
Presidio Holdings, Inc.
8.25%, 2/1/2028(a)		955,000		926,178
Unisys Corp.
6.88%, 11/1/2027(a)		1,445,000		1,179,814

				8,445,877


Investments	Principal Amount ($)		Value ($)
Leisure Products - 0.4%
Universal Entertainment Corp.
8.75%, 12/11/2024(a)(e)		2,984,000		3,007,872
Vista Outdoor, Inc.
4.50%, 3/15/2029(a)		2,020,000		1,717,949

				4,725,821

Life Sciences Tools & Services - 0.0%(d)
Fortrea Holdings, Inc.
7.50%, 7/1/2030(a)		230,000		235,058

Machinery - 1.2%
Amsted Industries, Inc.
4.63%, 5/15/2030(a)		200,000		177,482
Calderys Financing LLC
11.25%, 6/1/2028(a)		1,330,000		1,367,905
Chart Industries, Inc.
9.50%, 1/1/2031(a)		950,000		1,018,875
GrafTech Finance, Inc.
4.63%, 12/15/2028(a)		1,645,000		1,367,373
Hillenbrand, Inc.
5.00%, 9/15/2026(e)		540,000		528,738
Husky III Holding Ltd.
13.00%, 2/15/2025(a)(b)		1,000,000		930,000
Interpipe Holdings plc
8.38%, 5/13/2026(a)		500,000		311,000
Manitowoc Co., Inc. (The)
9.00%, 4/1/2026(a)		200,000		199,000
Mueller Water Products, Inc.
4.00%, 6/15/2029(a)		730,000		650,454
OT Merger Corp.
7.88%, 10/15/2029(a)		1,230,000		794,753
Roller Bearing Co. of America, Inc.
4.38%, 10/15/2029(a)		840,000		748,650
Terex Corp.
5.00%, 5/15/2029(a)		925,000		860,685
Titan Acquisition Ltd.
7.75%, 4/15/2026(a)		1,200,000		1,114,598
Titan International, Inc.
7.00%, 4/30/2028		875,000		843,071
TK Elevator US Newco, Inc.
5.25%, 7/15/2027(a)		2,015,000		1,884,334
Wabash National Corp.
4.50%, 10/15/2028(a)		1,045,000		880,412

				13,677,330

Media - 8.3%
Advantage Sales & Marketing, Inc.
6.50%, 11/15/2028(a)		1,275,000		1,109,250
Altice Financing SA
5.00%, 1/15/2028(a)		1,495,000		1,160,062
5.75%, 8/15/2029(a)		4,200,000		3,149,661
AMC Networks, Inc.
4.75%, 8/1/2025		510,000		451,705
4.25%, 2/15/2029		2,580,000		1,432,932
Belo Corp.
7.75%, 6/1/2027		625,000		617,005
7.25%, 9/15/2027		645,000		635,325


Investments	Principal Amount ($)		Value ($)
Cable One, Inc.
4.00%, 11/15/2030(a)		250,000		197,500
CMG Media Corp.
8.88%, 12/15/2027(a)		2,940,000		2,294,847
CSC Holdings LLC
7.50%, 4/1/2028(a)		365,000		225,503
Directv Financing LLC
5.88%, 8/15/2027(a)		3,375,000		3,046,693
DISH DBS Corp.
5.88%, 11/15/2024		4,175,000		3,811,542
7.75%, 7/1/2026		9,092,000		5,877,978
5.25%, 12/1/2026(a)		2,310,000		1,891,902
7.38%, 7/1/2028		4,704,000		2,646,000
5.75%, 12/1/2028(a)		1,805,000		1,388,981
5.13%, 6/1/2029		7,219,000		3,627,548
DISH Network Corp.
11.75%, 11/15/2027(a)		4,695,000		4,725,884
Gannett Holdings LLC
6.00%, 11/1/2026(a)		605,000		520,748
GCI LLC
4.75%, 10/15/2028(a)		1,625,000		1,412,494
Gray Escrow II, Inc.
5.38%, 11/15/2031(a)		6,130,000		4,277,483
Gray Television, Inc.
7.00%, 5/15/2027(a)		1,790,000		1,548,350
4.75%, 10/15/2030(a)		695,000		488,974
Nexstar Media, Inc.
5.63%, 7/15/2027(a)		3,530,000		3,318,587
4.75%, 11/1/2028(a)		500,000		440,662
Paramount Global
6.25%, 2/28/2057(c)		1,160,000		899,000
6.37%, 3/30/2062(c)		2,490,000		2,052,881
Radiate Holdco LLC
4.50%, 9/15/2026(a)		2,340,000		1,901,564
6.50%, 9/15/2028(a)		2,520,000		1,510,609
Scripps Escrow II, Inc.
5.38%, 1/15/2031(a)		390,000		297,278
Scripps Escrow, Inc.
5.88%, 7/15/2027(a)		1,187,000		991,406
Sinclair Television Group, Inc.
5.13%, 2/15/2027(a)		760,000		635,314
5.50%, 3/1/2030(a)		2,415,000		1,274,565
4.13%, 12/1/2030(a)		1,000,000		651,990
Sirius XM Radio, Inc.
3.13%, 9/1/2026(a)		2,555,000		2,305,376
5.00%, 8/1/2027(a)		2,570,000		2,387,761
4.00%, 7/15/2028(a)		1,605,000		1,396,482
5.50%, 7/1/2029(a)		2,385,000		2,179,101
4.13%, 7/1/2030(a)		6,395,000		5,266,730
3.88%, 9/1/2031(a)		7,295,000		5,711,670
Summer BC Bidco B LLC
5.50%, 10/31/2026(a)		1,160,000		987,873
TEGNA, Inc.
4.75%, 3/15/2026(a)		985,000		945,304
4.63%, 3/15/2028		2,237,000		2,002,115
5.00%, 9/15/2029		490,000		436,713


Investments	Principal Amount ($)		Value ($)
Townsquare Media, Inc.
6.88%, 2/1/2026(a)		1,020,000		983,025
Univision Communications, Inc.
6.63%, 6/1/2027(a)		500,000		486,483
7.38%, 6/30/2030(a)		545,000		530,457
UPC Broadband Finco BV
4.88%, 7/15/2031(a)		1,500,000		1,259,765
UPC Holding BV
5.50%, 1/15/2028(a)		934,000		831,260
Virgin Media Vendor Financing Notes IV DAC
5.00%, 7/15/2028(a)		685,000		602,824
VZ Secured Financing BV
5.00%, 1/15/2032(a)		6,710,000		5,452,696
Ziggo Bond Co. BV
5.13%, 2/28/2030(a)		178,000		140,620
Ziggo BV
4.88%, 1/15/2030(a)		4,420,000		3,742,639

				98,161,117

Metals & Mining - 2.1%
Allegheny Ludlum LLC
6.95%, 12/15/2025		195,000		196,534
Baffinland Iron Mines Corp.
8.75%, 7/15/2026(a)		960,000		931,200
Carpenter Technology Corp.
6.38%, 7/15/2028		1,080,000		1,063,498
Cleveland-Cliffs, Inc.
6.75%, 4/15/2030(a)		335,000		325,887
Compass Minerals International, Inc.
6.75%, 12/1/2027(a)		1,385,000		1,349,250
Eldorado Gold Corp.
6.25%, 9/1/2029(a)		1,945,000		1,741,002
FMG Resources August 2006 Pty. Ltd.
4.50%, 9/15/2027(a)		750,000		701,100
5.88%, 4/15/2030(a)		375,000		359,650
4.38%, 4/1/2031(a)		1,070,000		920,107
6.13%, 4/15/2032(a)		2,615,000		2,510,640
Hecla Mining Co.
7.25%, 2/15/2028		1,025,000		1,014,801
Hudbay Minerals, Inc.
4.50%, 4/1/2026(a)		1,280,000		1,213,797
IAMGOLD Corp.
5.75%, 10/15/2028(a)		2,045,000		1,574,650
Kaiser Aluminum Corp.
4.63%, 3/1/2028(a)		1,270,000		1,139,927
Mineral Resources Ltd.
8.13%, 5/1/2027(a)		960,000		960,845
8.00%, 11/1/2027(a)		850,000		852,322
8.50%, 5/1/2030(a)		1,033,000		1,043,727
New Gold, Inc.
7.50%, 7/15/2027(a)		1,805,000		1,724,677
Novelis Corp.
3.88%, 8/15/2031(a)		500,000		416,352
SunCoke Energy, Inc.
4.88%, 6/30/2029(a)		1,200,000		1,033,333
Taseko Mines Ltd.
7.00%, 2/15/2026(a)		1,895,000		1,752,973


Investments	Principal Amount ($)		Value ($)
TMS International Corp.
6.25%, 4/15/2029(a)		1,475,000		1,233,469
United States Steel Corp.
6.65%, 6/1/2037		240,000		234,992
Warrior Met Coal, Inc.
7.88%, 12/1/2028(a)		805,000		812,124

				25,106,857

Mortgage Real Estate Investment Trusts (REITs) - 0.9%
Apollo Commercial Real Estate Finance, Inc.
4.63%, 6/15/2029(a)		160,000		128,171
Blackstone Mortgage Trust, Inc.
3.75%, 1/15/2027(a)		1,045,000		898,520
Ladder Capital Finance Holdings LLLP
5.25%, 10/1/2025(a)		654,000		626,900
4.25%, 2/1/2027(a)		1,030,000		926,560
4.75%, 6/15/2029(a)		2,625,000		2,213,186
Rithm Capital Corp.
6.25%, 10/15/2025(a)		995,000		946,111
Starwood Property Trust, Inc.
3.75%, 12/31/2024(a)		1,000,000		955,000
4.75%, 3/15/2025		890,000		859,088
3.63%, 7/15/2026(a)		1,075,000		951,418
4.38%, 1/15/2027(a)		1,840,000		1,633,000

				10,137,954

Multi-Utilities - 0.2%
Algonquin Power & Utilities Corp.
4.75%, 1/18/2082(c)		2,605,000		2,102,105

Office REITs - 0.4%
Office Properties Income Trust
REIT, 4.50%, 2/1/2025		3,150,000		2,775,245
REIT, 2.40%, 2/1/2027		1,400,000		947,360
REIT, 3.45%, 10/15/2031		2,250,000		1,182,542

				4,905,147

Oil, Gas & Consumable Fuels - 14.4%
Aethon United BR LP
8.25%, 2/15/2026(a)		1,050,000		1,042,021
Antero Midstream Partners LP
5.75%, 3/1/2027(a)		1,145,000		1,107,558
5.75%, 1/15/2028(a)		1,145,000		1,101,010
5.38%, 6/15/2029(a)		2,015,000		1,888,992
Ascent Resources Utica Holdings LLC
7.00%, 11/1/2026(a)		955,000		934,012
8.25%, 12/31/2028(a)		470,000		466,761
5.88%, 6/30/2029(a)		1,080,000		974,911
Athabasca Oil Corp.
9.75%, 11/1/2026(a)		180,000		185,780
Baytex Energy Corp.
8.75%, 4/1/2027(a)		860,000		881,341
8.50%, 4/30/2030(a)		2,230,000		2,259,728
Berry Petroleum Co. LLC
7.00%, 2/15/2026(a)		330,000		314,025
Buckeye Partners LP
4.13%, 3/1/2025(a)		240,000		231,000
3.95%, 12/1/2026		805,000		738,587
4.13%, 12/1/2027		650,000		588,250
4.50%, 3/1/2028(a)		1,335,000		1,205,719


Investments	Principal Amount ($)		Value ($)
Callon Petroleum Co.
6.38%, 7/1/2026		535,000		524,208
8.00%, 8/1/2028(a)		1,525,000		1,546,239
7.50%, 6/15/2030(a)		1,055,000		1,024,212
Calumet Specialty Products Partners LP
8.13%, 1/15/2027(a)		385,000		368,638
Chesapeake Energy Corp.
5.88%, 2/1/2029(a)		710,000		679,019
6.75%, 4/15/2029(a)		1,655,000		1,647,627
Chord Energy Corp.
6.38%, 6/1/2026(a)		690,000		684,762
Citgo Holding, Inc.
9.25%, 8/1/2024(a)		5,555,000		5,555,000
CITGO Petroleum Corp.
6.38%, 6/15/2026(a)		985,000		955,450
Civitas Resources, Inc.
5.00%, 10/15/2026(a)		665,000		627,594
8.38%, 7/1/2028(a)		895,000		920,561
8.75%, 7/1/2031(a)		6,430,000		6,655,050
CNX Midstream Partners LP
4.75%, 4/15/2030(a)		1,260,000		1,092,117
CNX Resources Corp.
7.25%, 3/14/2027(a)		1,100,000		1,096,945
6.00%, 1/15/2029(a)		1,095,000		1,024,178
7.38%, 1/15/2031(a)		780,000		773,402
Comstock Resources, Inc.
6.75%, 3/1/2029(a)		3,084,000		2,876,658
5.88%, 1/15/2030(a)		918,000		812,600
CQP Holdco LP
5.50%, 6/15/2031(a)		1,465,000		1,332,446
Crescent Energy Finance LLC
7.25%, 5/1/2026(a)		1,940,000		1,911,909
9.25%, 2/15/2028(a)		2,205,000		2,242,926
Crestwood Midstream Partners LP
5.63%, 5/1/2027(a)		1,060,000		1,007,000
6.00%, 2/1/2029(a)		2,045,000		1,927,413
8.00%, 4/1/2029(a)		1,040,000		1,057,369
7.38%, 2/1/2031(a)		1,035,000		1,032,373
CVR Energy, Inc.
5.75%, 2/15/2028(a)		1,240,000		1,119,100
Delek Logistics Partners LP
6.75%, 5/15/2025		340,000		333,428
7.13%, 6/1/2028(a)		1,000,000		925,000
DT Midstream, Inc.
4.13%, 6/15/2029(a)		725,000		642,802
4.38%, 6/15/2031(a)		625,000		542,588
Earthstone Energy Holdings LLC
8.00%, 4/15/2027(a)		1,445,000		1,429,985
Encino Acquisition Partners Holdings LLC
8.50%, 5/1/2028(a)		3,180,000		2,916,944
EnLink Midstream Partners LP
5.60%, 4/1/2044		500,000		411,455
5.45%, 6/1/2047		135,000		111,670
EnQuest plc
11.63%, 11/1/2027(a)		550,000		517,749
EQM Midstream Partners LP
7.50%, 6/1/2027(a)		1,260,000		1,278,758


Investments	Principal Amount ($)		Value ($)
FTAI Infra Escrow Holdings LLC
10.50%, 6/1/2027(a)		1,410,000		1,404,340
Genesis Energy LP
6.25%, 5/15/2026		315,000		300,596
8.00%, 1/15/2027		2,410,000		2,371,819
7.75%, 2/1/2028		1,210,000		1,176,773
8.88%, 4/15/2030		245,000		244,371
Global Partners LP
7.00%, 8/1/2027		1,060,000		1,036,141
6.88%, 1/15/2029		1,525,000		1,429,794
Gran Tierra Energy International Holdings Ltd.
6.25%, 2/15/2025(a)		355,000		307,799
Gran Tierra Energy, Inc.
7.75%, 5/23/2027(a)		1,360,000		1,083,171
Gulfport Energy Corp.
8.00%, 5/17/2026(a)		879,000		887,627
Harbour Energy plc
5.50%, 10/15/2026(a)		860,000		797,728
Harvest Midstream I LP
7.50%, 9/1/2028(a)		1,510,000		1,484,007
Hess Midstream Operations LP
4.25%, 2/15/2030(a)		405,000		355,388
Hilcorp Energy I LP
6.25%, 11/1/2028(a)		825,000		789,744
5.75%, 2/1/2029(a)		1,040,000		962,000
6.00%, 4/15/2030(a)		2,150,000		1,987,316
6.00%, 2/1/2031(a)		1,035,000		937,286
6.25%, 4/15/2032(a)		200,000		181,785
Holly Energy Partners LP
6.38%, 4/15/2027(a)		1,060,000		1,055,813
5.00%, 2/1/2028(a)		690,000		645,383
Howard Midstream Energy Partners LLC
6.75%, 1/15/2027(a)		535,000		516,079
Ithaca Energy North Sea plc
9.00%, 7/15/2026(a)		2,708,000		2,572,540
ITT Holdings LLC
6.50%, 8/1/2029(a)		5,617,000		4,803,917
Magnolia Oil & Gas Operating LLC
6.00%, 8/1/2026(a)		330,000		323,400
Matador Resources Co.
5.88%, 9/15/2026		1,760,000		1,712,707
6.88%, 4/15/2028(a)		1,335,000		1,326,732
Moss Creek Resources Holdings, Inc.
7.50%, 1/15/2026(a)		3,215,000		3,002,709
10.50%, 5/15/2027(a)		1,705,000		1,664,492
Murphy Oil Corp.
7.05%, 5/1/2029		420,000		425,322
5.87%, 12/1/2042(e)		285,000		243,488
New Fortress Energy, Inc.
6.75%, 9/15/2025(a)		3,735,000		3,556,888
6.50%, 9/30/2026(a)		7,740,000		7,101,893
NGL Energy Operating LLC
7.50%, 2/1/2026(a)		3,855,000		3,819,778
NGL Energy Partners LP
6.13%, 3/1/2025		100,000		97,912
7.50%, 4/15/2026		879,000		834,370


Investments	Principal Amount ($)		Value ($)
Northern Oil and Gas, Inc.
8.13%, 3/1/2028(a)		1,330,000		1,320,025
8.75%, 6/15/2031(a)		495,000		498,736
Northriver Midstream Finance LP
5.63%, 2/15/2026(a)		1,696,000		1,620,867
NuStar Logistics LP
5.75%, 10/1/2025		1,060,000		1,041,450
6.00%, 6/1/2026		865,000		851,299
5.63%, 4/28/2027		972,000		943,158
6.38%, 10/1/2030		1,040,000		1,003,028
Parkland Corp.
5.88%, 7/15/2027(a)		875,000		851,399
4.50%, 10/1/2029(a)		2,010,000		1,773,773
4.63%, 5/1/2030(a)		940,000		824,899
PBF Holding Co. LLC
6.00%, 2/15/2028		1,595,000		1,506,063
Permian Resources Operating LLC
5.38%, 1/15/2026(a)		470,000		451,200
Rockies Express Pipeline LLC
4.95%, 7/15/2029(a)		245,000		225,013
4.80%, 5/15/2030(a)		570,000		505,875
6.88%, 4/15/2040(a)		340,000		307,700
SM Energy Co.
5.63%, 6/1/2025		1,000,000		979,974
6.75%, 9/15/2026		755,000		741,787
6.63%, 1/15/2027		720,000		708,139
6.50%, 7/15/2028		700,000		684,234
Strathcona Resources Ltd.
6.88%, 8/1/2026(a)		2,775,000		2,436,531
Summit Midstream Holdings LLC
9.00%, 10/15/2026(a)(e)		470,000		461,769
Sunoco LP
5.88%, 3/15/2028		1,235,000		1,201,175
4.50%, 5/15/2029		2,055,000		1,845,178
4.50%, 4/30/2030		2,095,000		1,857,453
Tallgrass Energy Partners LP
7.50%, 10/1/2025(a)		275,000		275,481
6.00%, 3/1/2027(a)		1,740,000		1,648,883
5.50%, 1/15/2028(a)		3,250,000		2,990,000
6.00%, 12/31/2030(a)		3,335,000		2,960,327
6.00%, 9/1/2031(a)		2,000,000		1,739,921
Tap Rock Resources LLC
7.00%, 10/1/2026(a)		500,000		516,401
Teine Energy Ltd.
6.88%, 4/15/2029(a)		905,000		832,600
TerraForm Power Operating LLC
5.00%, 1/31/2028(a)		1,305,000		1,211,076
4.75%, 1/15/2030(a)		525,000		463,269
Topaz Solar Farms LLC
5.75%, 9/30/2039(a)		1,824,852		1,760,982
Venture Global Calcasieu Pass LLC
3.88%, 8/15/2029(a)		1,325,000		1,147,327
6.25%, 1/15/2030(a)		845,000		826,260
4.13%, 8/15/2031(a)		855,000		725,240
3.88%, 11/1/2033(a)		820,000		665,452
Venture Global LNG, Inc.
8.13%, 6/1/2028(a)		2,250,000		2,286,858


Investments	Principal Amount ($)		Value ($)
8.38%, 6/1/2031(a)		3,625,000		3,678,349
Vermilion Energy, Inc.
6.88%, 5/1/2030(a)		1,185,000		1,098,793
Vital Energy, Inc.
9.50%, 1/15/2025		1,040,000		1,034,800
10.13%, 1/15/2028		1,350,000		1,348,542
7.75%, 7/31/2029(a)		1,245,000		1,064,475
W&T Offshore, Inc.
11.75%, 2/1/2026(a)		1,235,000		1,260,923

				169,142,662

Paper & Forest Products - 0.4%
Clearwater Paper Corp.
4.75%, 8/15/2028(a)		745,000		655,859
Domtar Corp.
6.75%, 10/1/2028(a)		3,030,000		2,645,392
Louisiana-Pacific Corp.
3.63%, 3/15/2029(a)		660,000		577,535
Mercer International, Inc.
5.50%, 1/15/2026		452,000		436,093

				4,314,879

Passenger Airlines - 0.9%
Air Canada
3.88%, 8/15/2026(a)		2,390,000		2,217,825
Allegiant Travel Co.
7.25%, 8/15/2027(a)		900,000		887,889
American Airlines, Inc.
11.75%, 7/15/2025(a)		735,000		810,076
5.50%, 4/20/2026(a)		1,512,500		1,489,831
7.25%, 2/15/2028(a)		2,060,000		2,045,161
Spirit Loyalty Cayman Ltd.
8.00%, 9/20/2025(a)		1,115,000		1,124,845
United Airlines, Inc.
4.38%, 4/15/2026(a)		500,000		473,419
4.63%, 4/15/2029(a)		1,245,000		1,126,309

				10,175,355

Personal Care Products - 0.7%
BellRing Brands, Inc.
7.00%, 3/15/2030(a)		1,000,000		1,003,780
Edgewell Personal Care Co.
5.50%, 6/1/2028(a)		1,440,000		1,364,400
4.13%, 4/1/2029(a)		740,000		647,322
Herbalife Nutrition Ltd.
7.88%, 9/1/2025(a)		997,000		947,135
Oriflame Investment Holding plc
5.13%, 5/4/2026(a)		2,595,000		911,883
Prestige Brands, Inc.
5.13%, 1/15/2028(a)		770,000		735,350
3.75%, 4/1/2031(a)		2,735,000		2,297,400

				7,907,270

Pharmaceuticals - 1.6%
Bausch Health Americas, Inc.
9.25%, 4/1/2026(a)		1,119,000		956,044
Bausch Health Cos., Inc.
5.50%, 11/1/2025(a)		2,250,000		2,025,000
9.00%, 12/15/2025(a)		1,798,000		1,646,192
6.13%, 2/1/2027(a)		3,565,000		2,340,623
5.75%, 8/15/2027(a)		2,265,000		1,456,123


Investments	Principal Amount ($)		Value ($)
5.00%, 1/30/2028(a)		835,000		384,039
4.88%, 6/1/2028(a)		861,000		522,024
11.00%, 9/30/2028(a)		4,360,000		3,214,416
5.25%, 1/30/2030(a)		460,000		205,055
Cheplapharm Arzneimittel GmbH
5.50%, 1/15/2028(a)		640,000		582,765
HLF Financing Sarl LLC
4.88%, 6/1/2029(a)		2,505,000		1,903,800
Jazz Securities DAC
4.38%, 1/15/2029(a)		185,000		164,486
Organon & Co.
4.13%, 4/30/2028(a)		965,000		864,776
5.13%, 4/30/2031(a)		1,557,000		1,319,851
P&L Development LLC
7.75%, 11/15/2025(a)		745,000		642,927
Perrigo Finance Unlimited Co.
4.65%, 6/15/2030(e)		390,000		349,505

				18,577,626

Professional Services - 0.4%
AMN Healthcare, Inc.
4.63%, 10/1/2027(a)		620,000		582,800
ASGN, Inc.
4.63%, 5/15/2028(a)		880,000		806,921
CoreLogic, Inc.
4.50%, 5/1/2028(a)		2,190,000		1,801,275
Dun & Bradstreet Corp. (The)
5.00%, 12/15/2029(a)		235,000		206,850
KBR, Inc.
4.75%, 9/30/2028(a)		170,000		155,550
Science Applications International Corp.
4.88%, 4/1/2028(a)		665,000		625,097
TriNet Group, Inc.
3.50%, 3/1/2029(a)		666,000		581,085

				4,759,578

Real Estate Management & Development - 0.9%
Cushman & Wakefield US Borrower LLC
6.75%, 5/15/2028(a)		875,000		802,060
Five Point Operating Co. LP
7.88%, 11/15/2025(a)		325,000		307,125
Forestar Group, Inc.
3.85%, 5/15/2026(a)		581,000		539,317
5.00%, 3/1/2028(a)		1,315,000		1,219,432
Howard Hughes Corp. (The)
5.38%, 8/1/2028(a)		250,000		229,375
4.13%, 2/1/2029(a)		750,000		633,758
4.38%, 2/1/2031(a)		220,000		181,012
Hunt Cos., Inc.
5.25%, 4/15/2029(a)		1,815,000		1,439,923
Kennedy-Wilson, Inc.
4.75%, 3/1/2029		1,160,000		945,400
4.75%, 2/1/2030		3,245,000		2,531,846
5.00%, 3/1/2031		2,325,000		1,801,875
Realogy Group LLC
5.75%, 1/15/2029(a)		80,000		59,197
WeWork Cos. LLC
12.00%, 8/15/2027(a)(b)		3,213,750		449,925

				11,140,245


Investments	Principal Amount ($)		Value ($)
Retail REITs - 0.5%
Brookfield Property REIT, Inc.
REIT, 5.75%, 5/15/2026(a)		3,380,000		3,170,991
REIT, 4.50%, 4/1/2027(a)		3,780,000		3,269,700

				6,440,691

Software - 2.3%
Alteryx, Inc.
8.75%, 3/15/2028(a)		1,170,000		1,137,487
Clarivate Science Holdings Corp.
4.88%, 7/1/2029(a)		1,075,000		954,924
Cloud Software Group, Inc.
6.50%, 3/31/2029(a)		6,335,000		5,701,739
9.00%, 9/30/2029(a)		2,840,000		2,543,628
Consensus Cloud Solutions, Inc.
6.00%, 10/15/2026(a)		895,000		827,595
6.50%, 10/15/2028(a)		1,300,000		1,124,505
CWT Travel Group, Inc.
8.50%, 11/19/2026(a)		3,131,000		1,502,880
Gen Digital, Inc.
7.13%, 9/30/2030(a)		410,000		413,171
GoTo Group, Inc.
5.50%, 9/1/2027(a)		4,816,000		2,766,885
Helios Software Holdings, Inc.
4.63%, 5/1/2028(a)		480,000		415,606
MicroStrategy, Inc.
6.13%, 6/15/2028(a)		600,000		537,066
Open Text Corp.
3.88%, 12/1/2029(a)		400,000		338,354
Open Text Holdings, Inc.
4.13%, 2/15/2030(a)		320,000		274,320
4.13%, 12/1/2031(a)		600,000		497,338
SS&C Technologies, Inc.
5.50%, 9/30/2027(a)		935,000		903,285
Veritas US, Inc.
7.50%, 9/1/2025(a)		8,540,000		7,002,293

				26,941,076

Specialized REITs - 0.2%
Iron Mountain, Inc.
REIT, 5.25%, 7/15/2030(a)		755,000		682,521
REIT, 4.50%, 2/15/2031(a)		800,000		689,693
REIT, 5.63%, 7/15/2032(a)		224,000		201,802
SBA Communications Corp.
REIT, 3.13%, 2/1/2029		250,000		210,774

				1,784,790

Specialty Retail - 3.6%
99 Escrow Issuer, Inc.
7.50%, 1/15/2026(a)		240,000		93,106
Arko Corp.
5.13%, 11/15/2029(a)		1,885,000		1,566,992
At Home Group, Inc.
4.88%, 7/15/2028(a)		1,260,000		715,050
Bath & Body Works, Inc.
6.95%, 3/1/2033		230,000		208,118
6.88%, 11/1/2035		805,000		747,107
6.75%, 7/1/2036		765,000		695,724
BCPE Ulysses Intermediate, Inc.
7.75%, 4/1/2027(a)(b)		1,465,000		1,327,729


Investments	Principal Amount ($)		Value ($)
eG Global Finance plc
8.50%, 10/30/2025(a)		1,410,000		1,396,196
Evergreen Acqco 1 LP
9.75%, 4/26/2028(a)		914,000		952,845
Gap, Inc. (The)
3.63%, 10/1/2029(a)		3,290,000		2,453,357
3.88%, 10/1/2031(a)		1,233,000		881,731
GYP Holdings III Corp.
4.63%, 5/1/2029(a)		370,000		330,484
Ken Garff Automotive LLC
4.88%, 9/15/2028(a)		125,000		109,517
LBM Acquisition LLC
6.25%, 1/15/2029(a)		1,535,000		1,323,554
LCM Investments Holdings II LLC
4.88%, 5/1/2029(a)		600,000		523,492
LSF9 Atlantis Holdings LLC
7.75%, 2/15/2026(a)		1,835,000		1,720,437
Michaels Cos., Inc. (The)
5.25%, 5/1/2028(a)		3,595,000		3,055,894
7.88%, 5/1/2029(a)		6,220,000		4,431,750
Murphy Oil USA, Inc.
3.75%, 2/15/2031(a)		2,500,000		2,121,875
Park River Holdings, Inc.
5.63%, 2/1/2029(a)		895,000		716,000
6.75%, 8/1/2029(a)		615,000		498,226
Sonic Automotive, Inc.
4.63%, 11/15/2029(a)		255,000		218,467
4.88%, 11/15/2031(a)		420,000		348,667
Specialty Building Products Holdings LLC
6.38%, 9/30/2026(a)		1,265,000		1,203,895
Staples, Inc.
7.50%, 4/15/2026(a)		9,715,000		8,025,991
10.75%, 4/15/2027(a)		4,608,000		2,634,900
Upbound Group, Inc.
6.38%, 2/15/2029(a)		780,000		715,658
Valvoline, Inc.
3.63%, 6/15/2031(a)		2,370,000		1,951,719
Victoria’s Secret & Co.
4.63%, 7/15/2029(a)		775,000		581,494
White Cap Parent LLC
8.25%, 3/15/2026(a)(b)		410,000		395,037

				41,945,012

Technology Hardware, Storage & Peripherals - 0.4%
Seagate HDD Cayman
9.63%, 12/1/2032(a)		310,000		343,212
5.75%, 12/1/2034		325,000		288,230
Western Digital Corp.
4.75%, 2/15/2026		965,000		921,265
Xerox Corp.
4.80%, 3/1/2035		1,335,000		910,176
6.75%, 12/15/2039		1,775,000		1,368,198
Xerox Holdings Corp.
5.50%, 8/15/2028(a)		1,465,000		1,285,646

				5,116,727


Investments	Principal Amount ($)		Value ($)
Textiles, Apparel & Luxury Goods - 0.1%
Eagle Intermediate Global Holding BV
7.50%, 5/1/2025(a)		1,316,000		875,140

Tobacco - 0.5%
Turning Point Brands, Inc.
5.63%, 2/15/2026(a)		155,000		144,100
Vector Group Ltd.
10.50%, 11/1/2026(a)		2,385,000		2,384,388
5.75%, 2/1/2029(a)		4,475,000		3,888,935

				6,417,423

Trading Companies & Distributors - 0.6%
Alta Equipment Group, Inc.
5.63%, 4/15/2026(a)		1,170,000		1,094,145
Beacon Roofing Supply, Inc.
4.50%, 11/15/2026(a)		565,000		537,877
4.13%, 5/15/2029(a)		895,000		790,598
BlueLinx Holdings, Inc.
6.00%, 11/15/2029(a)		790,000		711,000
Herc Holdings, Inc.
5.50%, 7/15/2027(a)		2,650,000		2,546,509
Imola Merger Corp.
4.75%, 5/15/2029(a)		2,270,000		1,993,130

				7,673,259

Wireless Telecommunication Services - 1.1%
C&W Senior Financing DAC
6.88%, 9/15/2027(a)		840,000		762,485
Connect Finco Sarl
6.75%, 10/1/2026(a)		1,690,000		1,620,235
Hughes Satellite Systems Corp.
5.25%, 8/1/2026		1,270,000		1,181,100
6.63%, 8/1/2026		3,590,000		3,241,303
Rogers Communications, Inc.
5.25%, 3/15/2082(a)(c)		1,685,000		1,554,315
Vmed O2 UK Financing I plc
4.25%, 1/31/2031(a)		1,165,000		964,699
4.75%, 7/15/2031(a)		1,260,000		1,063,591
Vodafone Group plc
7.00%, 4/4/2079(c)		460,000		472,883
4.12%, 6/4/2081(c)		1,065,000		846,937
5.12%, 6/4/2081(c)		965,000		701,848

				12,409,396

TOTAL CORPORATE BONDS (Cost $1,167,986,785)				1,147,898,683

Total Investments - 97.4% (Cost $1,167,986,785)				1,147,898,683
Other assets less liabilities - 2.6%				30,347,918

Net Assets - 100.0%				1,178,246,601

(a)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(b)	Payment in-kind security.


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 98.2%

Air Freight & Logistics - 0.8%
GXO Logistics, Inc.
1.65%, 7/15/2026		40,000		35,185
United Parcel Service, Inc.
4.45%, 4/1/2030		220,000		217,710
3.75%, 11/15/2047		30,000		25,086
5.05%, 3/3/2053		30,000		30,189

				308,170

Automobile Components - 0.1%
Aptiv plc
3.10%, 12/1/2051		50,000		31,398

Automobiles - 0.7%
General Motors Co.
6.80%, 10/1/2027		150,000		156,563
5.15%, 4/1/2038		60,000		54,140
5.95%, 4/1/2049		45,000		42,138

				252,841

Banks - 15.6%
Banco Santander SA
5.15%, 8/18/2025		200,000		197,341
4.17%, 3/24/2028(a)		200,000		188,409
Bank of America Corp.
3.38%, 4/2/2026(a)		300,000		288,556
5.08%, 1/20/2027(a)		100,000		98,928
1.73%, 7/22/2027(a)		150,000		134,397
3.42%, 12/20/2028(a)		200,000		184,136
2.09%, 6/14/2029(a)		190,000		163,016
4.27%, 7/23/2029(a)		150,000		142,512
4.57%, 4/27/2033(a)		100,000		94,010
2.68%, 6/19/2041(a)		65,000		46,036
2.97%, 7/21/2052(a)		35,000		23,986
Citigroup, Inc.
3.29%, 3/17/2026(a)		50,000		47,977
3.11%, 4/8/2026(a)		150,000		143,571
3.20%, 10/21/2026		100,000		93,756
4.45%, 9/29/2027		100,000		96,189
3.98%, 3/20/2030(a)		100,000		92,716
2.67%, 1/29/2031(a)		160,000		135,351
4.41%, 3/31/2031(a)		150,000		140,984
2.57%, 6/3/2031(a)		110,000		91,799
3.06%, 1/25/2033(a)		115,000		96,018
8.13%, 7/15/2039		45,000		57,103
6.68%, 9/13/2043		25,000		27,018
HSBC Holdings plc
1.59%, 5/24/2027(a)		200,000		178,077
7.39%, 11/3/2028(a)		210,000		221,801
4.76%, 3/29/2033(a)		200,000		182,271
5.40%, 8/11/2033(a)		250,000		244,000
6.50%, 9/15/2037		150,000		153,805


Investments	Principal Amount ($)		Value ($)
ING Groep NV
4.02%, 3/28/2028(a)		200,000		189,030
JPMorgan Chase & Co.
3.88%, 9/10/2024		150,000		147,163
1.58%, 4/22/2027(a)		150,000		135,048
3.78%, 2/1/2028(a)		150,000		142,179
4.45%, 12/5/2029(a)		150,000		144,567
4.57%, 6/14/2030(a)		150,000		144,317
2.74%, 10/15/2030(a)		60,000		52,065
2.58%, 4/22/2032(a)		20,000		16,590
4.91%, 7/25/2033(a)		50,000		48,857
5.60%, 7/15/2041		75,000		78,175
5.63%, 8/16/2043		25,000		25,740
4.95%, 6/1/2045		50,000		46,726
Mitsubishi UFJ Financial Group, Inc.
5.13%, 7/20/2033(a)		200,000		196,086
PNC Financial Services Group, Inc. (The)
5.35%, 12/2/2028(a)		80,000		79,531
4.63%, 6/6/2033(a)		75,000		68,677
Royal Bank of Canada
1.15%, 6/10/2025		150,000		138,860
4.88%, 1/12/2026		75,000		74,440
5.00%, 2/1/2033		15,000		14,729
Santander Holdings USA, Inc.
3.45%, 6/2/2025		180,000		171,127
Santander UK Group Holdings plc
6.53%, 1/10/2029(a)		200,000		202,069
Toronto-Dominion Bank (The)
4.29%, 9/13/2024		150,000		147,722
4.11%, 6/8/2027		25,000		24,018
4.46%, 6/8/2032		115,000		108,270
Westpac Banking Corp.
4.42%, 7/24/2039		60,000		49,563

				6,009,312

Beverages - 1.6%
Anheuser-Busch Cos. LLC
4.70%, 2/1/2036		107,000		103,741
Anheuser-Busch InBev Worldwide, Inc.
5.45%, 1/23/2039		17,000		17,503
5.80%, 1/23/2059		17,000		18,210
Molson Coors Beverage Co.
4.20%, 7/15/2046		20,000		16,422
PepsiCo, Inc.
2.25%, 3/19/2025		15,000		14,341
4.45%, 5/15/2028		100,000		100,283
2.63%, 7/29/2029		75,000		67,812
1.95%, 10/21/2031		120,000		98,772
3.50%, 3/19/2040		200,000		168,001

				605,085

Biotechnology - 1.5%
Amgen, Inc.
1.90%, 2/21/2025		25,000		23,671
4.05%, 8/18/2029		40,000		38,009
2.80%, 8/15/2041		40,000		28,292


Investments	Principal Amount ($)		Value ($)
5.60%, 3/2/2043		180,000		179,004
4.66%, 6/15/2051		170,000		149,854
4.88%, 3/1/2053		40,000		36,397
2.77%, 9/1/2053		20,000		12,288
Biogen, Inc.
3.15%, 5/1/2050		50,000		33,716
Regeneron Pharmaceuticals, Inc.
1.75%, 9/15/2030		80,000		63,973

				565,204

Broadline Retail - 0.5%
Alibaba Group Holding Ltd.
2.70%, 2/9/2041		200,000		134,502
eBay, Inc.
2.70%, 3/11/2030		75,000		64,661

				199,163

Building Products - 0.5%
Carrier Global Corp.
3.38%, 4/5/2040		75,000		57,753
Johnson Controls International plc
4.63%, 7/2/2044(b)		50,000		44,106
Owens Corning
4.30%, 7/15/2047		40,000		32,761
Trane Technologies Luxembourg Finance SA
3.80%, 3/21/2029		75,000		70,915

				205,535

Capital Markets - 7.9%
Bain Capital Specialty Finance, Inc.
2.55%, 10/13/2026		10,000		8,667
Bank of New York Mellon Corp. (The)
3.40%, 1/29/2028		100,000		93,390
3.99%, 6/13/2028(a)		70,000		67,249
4.60%, 7/26/2030(a)		50,000		48,516
4.29%, 6/13/2033(a)		30,000		28,003
Barings BDC, Inc.
3.30%, 11/23/2026		10,000		8,766
Blackstone Private Credit Fund
2.63%, 12/15/2026		50,000		42,902
Blue Owl Capital Corp.
2.63%, 1/15/2027		50,000		43,164
Blue Owl Credit Income Corp.
5.50%, 3/21/2025		50,000		48,409
Deutsche Bank AG
3.74%, 1/7/2033(a)		200,000		152,887
Eaton Vance Corp.
3.50%, 4/6/2027		5,000		4,675
Franklin BSP Lending Corp.
3.25%, 3/30/2026		10,000		8,943
Goldman Sachs Group, Inc. (The)
3.50%, 4/1/2025		200,000		192,900
4.48%, 8/23/2028(a)		450,000		435,483
2.38%, 7/21/2032(a)		25,000		19,976
6.13%, 2/15/2033		100,000		107,612
3.10%, 2/24/2033(a)		105,000		88,478
6.75%, 10/1/2037		130,000		140,879
6.25%, 2/1/2041		40,000		42,919
5.15%, 5/22/2045		75,000		70,515


Investments	Principal Amount ($)		Value ($)
Hercules Capital, Inc.
3.38%, 1/20/2027		20,000		17,592
Moody’s Corp.
2.75%, 8/19/2041		50,000		35,174
3.75%, 2/25/2052		50,000		39,006
Morgan Stanley
2.63%, 2/18/2026(a)		30,000		28,567
3.13%, 7/27/2026		150,000		140,839
0.98%, 12/10/2026(a)		40,000		35,789
5.12%, 2/1/2029(a)		200,000		197,963
2.70%, 1/22/2031(a)		200,000		170,652
2.24%, 7/21/2032(a)		45,000		35,798
5.30%, 4/20/2037(a)		50,000		47,449
5.60%, 3/24/2051(a)		95,000		99,070
Nasdaq, Inc.
3.85%, 6/30/2026		75,000		72,427
5.55%, 2/15/2034		60,000		60,539
3.95%, 3/7/2052		10,000		7,692
Prospect Capital Corp.
3.71%, 1/22/2026		50,000		45,481
S&P Global, Inc.
1.25%, 8/15/2030		75,000		59,007
2.90%, 3/1/2032		75,000		64,870
State Street Corp.
2.90%, 3/30/2026(a)		75,000		71,780
5.82%, 11/4/2028(a)		75,000		76,562
2.40%, 1/24/2030		95,000		81,561

				3,042,151

Chemicals - 1.0%
Air Products and Chemicals, Inc.
2.05%, 5/15/2030		60,000		51,054
Dow Chemical Co. (The)
6.90%, 5/15/2053		80,000		90,478
DuPont de Nemours, Inc.
5.32%, 11/15/2038		10,000		9,913
5.42%, 11/15/2048		20,000		19,701
Ecolab, Inc.
4.80%, 3/24/2030		50,000		49,953
1.30%, 1/30/2031		95,000		74,918
International Flavors & Fragrances, Inc.
5.00%, 9/26/2048		45,000		38,463
Nutrien Ltd.
5.25%, 1/15/2045		70,000		64,636

				399,116

Commercial Services & Supplies - 0.4%
RELX Capital, Inc.
3.00%, 5/22/2030		50,000		44,358
Waste Management, Inc.
4.63%, 2/15/2030		70,000		69,086
2.95%, 6/1/2041		50,000		36,924

				150,368

Consumer Finance - 1.8%
American Express Co.
3.13%, 5/20/2026		75,000		71,225
3.30%, 5/3/2027		75,000		70,260
4.42%, 8/3/2033(a)		60,000		56,460
4.05%, 12/3/2042		20,000		17,367


Investments	Principal Amount ($)		Value ($)
Capital One Financial Corp.
4.93%, 5/10/2028(a)		35,000		33,634
3.27%, 3/1/2030(a)		45,000		38,769
5.27%, 5/10/2033(a)		85,000		80,970
General Motors Financial Co., Inc.
6.00%, 1/9/2028		50,000		50,752
5.85%, 4/6/2030		50,000		49,929
3.10%, 1/12/2032		100,000		81,728
John Deere Capital Corp.
4.35%, 9/15/2032		100,000		97,402
Synchrony Financial
2.88%, 10/28/2031		65,000		48,183

				696,679

Consumer Staples Distribution & Retail - 1.5%
Kroger Co. (The)
5.40%, 1/15/2049		12,000		11,861
3.95%, 1/15/2050		80,000		64,279
Target Corp.
2.25%, 4/15/2025		75,000		71,489
2.65%, 9/15/2030		220,000		192,052
Walgreens Boots Alliance, Inc.
3.45%, 6/1/2026		75,000		70,783
4.10%, 4/15/2050		25,000		17,807
Walmart, Inc.
1.80%, 9/22/2031		150,000		124,133
4.05%, 6/29/2048		40,000		36,430

				588,834

Containers & Packaging - 0.5%
Avery Dennison Corp.
0.85%, 8/15/2024		150,000		142,202
International Paper Co.
6.00%, 11/15/2041		50,000		51,018

				193,220

Diversified Consumer Services - 0.0%(c)
Howard University
Series 22A, 5.21%, 10/1/2052		5,000		4,125

Diversified REITs - 0.5%
Digital Realty Trust LP
REIT, 4.45%, 7/15/2028		50,000		47,487
Simon Property Group LP
REIT, 2.00%, 9/13/2024		40,000		38,413
REIT, 1.75%, 2/1/2028		30,000		25,877
REIT, 2.65%, 2/1/2032		75,000		60,919
REIT, 6.75%, 2/1/2040		25,000		27,174

				199,870

Diversified Telecommunication Services - 3.6%
AT&T, Inc.
4.65%, 6/1/2044		80,000		67,406
Deutsche Telekom International Finance BV
8.75%, 6/15/2030(b)		60,000		71,005
Orange SA
9.00%, 3/1/2031(b)		85,000		103,719
Telefonica Emisiones SA
4.90%, 3/6/2048		150,000		124,147


Investments	Principal Amount ($)		Value ($)
TELUS Corp.
3.40%, 5/13/2032		10,000		8,469
Verizon Communications, Inc.
4.13%, 3/16/2027		150,000		145,147
4.33%, 9/21/2028		150,000		144,067
2.55%, 3/21/2031		150,000		124,512
2.36%, 3/15/2032		100,000		79,852
2.65%, 11/20/2040		240,000		163,993
3.40%, 3/22/2041		125,000		94,976
4.86%, 8/21/2046		75,000		68,136
3.88%, 3/1/2052		230,000		177,428

				1,372,857

Electric Utilities - 3.1%
Avangrid, Inc.
3.80%, 6/1/2029		20,000		18,320
Commonwealth Edison Co.
3.00%, 3/1/2050		50,000		34,130
Connecticut Light and Power Co. (The)
Series A, 2.05%, 7/1/2031		175,000		141,857
4.00%, 4/1/2048		10,000		8,424
Edison International
4.13%, 3/15/2028		225,000		211,639
Emera US Finance LP
2.64%, 6/15/2031		50,000		40,066
Eversource Energy
4.60%, 7/1/2027		25,000		24,490
3.45%, 1/15/2050		45,000		33,075
Exelon Corp.
2.75%, 3/15/2027		250,000		229,863
4.95%, 6/15/2035		75,000		71,440
4.45%, 4/15/2046		50,000		42,788
5.60%, 3/15/2053		35,000		34,934
ITC Holdings Corp.
3.35%, 11/15/2027		30,000		27,956
PECO Energy Co.
4.90%, 6/15/2033		30,000		29,851
Public Service Electric and Gas Co.
3.60%, 12/1/2047		85,000		67,127
Southern California Edison Co.
5.95%, 11/1/2032		100,000		104,906
Series C, 4.13%, 3/1/2048		50,000		40,593
Series E, 5.45%, 6/1/2052		30,000		28,896

				1,190,355

Electrical Equipment - 0.1%
ABB Finance USA, Inc.
3.80%, 4/3/2028		50,000		48,395

Energy Equipment & Services - 0.3%
Baker Hughes Holdings LLC
4.08%, 12/15/2047		60,000		49,261
Halliburton Co.
2.92%, 3/1/2030		15,000		13,245
4.85%, 11/15/2035		75,000		70,835

				133,341

Entertainment - 0.7%
Walt Disney Co. (The)
6.40%, 12/15/2035		100,000		111,385


Investments	Principal Amount ($)		Value ($)
7.75%, 12/1/2045		20,000		25,847
4.75%, 11/15/2046		100,000		93,413
3.80%, 5/13/2060		75,000		58,499

				289,144

Financial Services - 2.4%
Equitable Holdings, Inc.
5.59%, 1/11/2033		20,000		19,787
Fidelity National Information Services, Inc.
4.50%, 7/15/2025		250,000		245,255
Mastercard, Inc.
3.30%, 3/26/2027		150,000		143,331
2.95%, 6/1/2029		140,000		128,032
2.00%, 11/18/2031		50,000		41,289
Shell International Finance BV
3.88%, 11/13/2028		75,000		72,634
6.38%, 12/15/2038		95,000		106,740
4.38%, 5/11/2045		100,000		89,828
4.00%, 5/10/2046		50,000		42,441
3.25%, 4/6/2050		5,000		3,663
Voya Financial, Inc.
4.70%, 1/23/2048(a)		30,000		24,355

				917,355

Food Products - 1.1%
Bunge Ltd. Finance Corp.
1.63%, 8/17/2025		70,000		64,785
Campbell Soup Co.
4.15%, 3/15/2028		75,000		72,154
2.38%, 4/24/2030		25,000		20,975
General Mills, Inc.
2.88%, 4/15/2030		75,000		66,078
4.95%, 3/29/2033		20,000		19,766
3.00%, 2/1/2051		10,000		6,989
Ingredion, Inc.
2.90%, 6/1/2030		50,000		43,087
Kellogg Co.
2.10%, 6/1/2030		100,000		82,844
Mondelez International, Inc.
2.63%, 9/4/2050		75,000		48,740
Tyson Foods, Inc.
5.10%, 9/28/2048		10,000		9,003

				434,421

Gas Utilities - 0.7%
Atmos Energy Corp.
3.00%, 6/15/2027		50,000		46,681
5.75%, 10/15/2052		25,000		26,718
CenterPoint Energy Resources Corp.
5.40%, 3/1/2033		20,000		20,278
ONE Gas, Inc.
4.50%, 11/1/2048		70,000		59,243
Southern California Gas Co.
2.95%, 4/15/2027		100,000		93,589
Washington Gas Light Co.
3.65%, 9/15/2049		20,000		14,595

				261,104

Ground Transportation - 2.3%
Canadian National Railway Co.
4.45%, 1/20/2049		55,000		49,615


Investments	Principal Amount ($)		Value ($)
4.40%, 8/5/2052		10,000		9,073
Canadian Pacific Railway Co.
1.35%, 12/2/2024		75,000		70,855
5.75%, 3/15/2033		50,000		51,099
4.30%, 5/15/2043		15,000		13,002
4.80%, 8/1/2045		65,000		59,780
4.20%, 11/15/2069		25,000		19,478
CSX Corp.
3.40%, 8/1/2024		75,000		73,375
2.40%, 2/15/2030		50,000		43,122
4.30%, 3/1/2048		75,000		65,200
3.80%, 4/15/2050		50,000		39,769
4.65%, 3/1/2068		5,000		4,438
JB Hunt Transport Services, Inc.
3.88%, 3/1/2026		45,000		43,606
Norfolk Southern Corp.
3.00%, 3/15/2032		80,000		68,795
4.80%, 8/15/2043		50,000		43,529
Union Pacific Corp.
4.50%, 1/20/2033		120,000		117,376
3.80%, 4/6/2071		160,000		120,910

				893,022

Health Care Equipment & Supplies - 1.6%
Abbott Laboratories
1.40%, 6/30/2030		50,000		41,045
4.90%, 11/30/2046		95,000		94,863
Baxter International, Inc.
1.73%, 4/1/2031		75,000		58,098
3.13%, 12/1/2051		50,000		33,262
Boston Scientific Corp.
2.65%, 6/1/2030		75,000		64,980
GE HealthCare Technologies, Inc.
5.60%, 11/15/2025		100,000		100,287
5.86%, 3/15/2030		100,000		102,616
Medtronic, Inc.
4.00%, 4/1/2043		20,000		17,176
4.63%, 3/15/2045		30,000		28,744
Zimmer Biomet Holdings, Inc.
2.60%, 11/24/2031		75,000		62,165

				603,236

Health Care Providers & Services - 5.4%
Aetna, Inc.
3.88%, 8/15/2047		50,000		38,380
AmerisourceBergen Corp.
2.70%, 3/15/2031		75,000		63,833
Cardinal Health, Inc.
4.90%, 9/15/2045		50,000		43,023
Cigna Group (The)
4.38%, 10/15/2028		60,000		58,025
6.13%, 11/15/2041		50,000		52,361
3.88%, 10/15/2047		20,000		15,782
4.90%, 12/15/2048		100,000		92,270
3.40%, 3/15/2051		20,000		14,393
CVS Health Corp.
3.88%, 7/20/2025		75,000		72,892
3.63%, 4/1/2027		50,000		47,600
4.30%, 3/25/2028		150,000		145,273


Investments	Principal Amount ($)		Value ($)
5.25%, 2/21/2033		120,000		119,381
4.78%, 3/25/2038		60,000		55,362
5.05%, 3/25/2048		150,000		136,817
Elevance Health, Inc.
2.38%, 1/15/2025		150,000		143,408
2.25%, 5/15/2030		75,000		62,843
4.10%, 5/15/2032		80,000		74,443
4.75%, 2/15/2033		30,000		29,184
3.60%, 3/15/2051		78,000		59,650
6.10%, 10/15/2052		21,000		22,859
5.13%, 2/15/2053		31,000		29,843
HCA, Inc.
3.63%, 3/15/2032(d)		200,000		173,794
7.50%, 11/6/2033		70,000		76,756
4.63%, 3/15/2052(d)		115,000		94,427
Laboratory Corp. of America Holdings
1.55%, 6/1/2026		75,000		67,620
2.70%, 6/1/2031		75,000		63,058
Novant Health, Inc.
3.32%, 11/1/2061		35,000		23,759
Quest Diagnostics, Inc.
4.20%, 6/30/2029		50,000		48,071
UnitedHealth Group, Inc.
2.75%, 5/15/2040		65,000		47,985
5.88%, 2/15/2053		80,000		88,053
5.20%, 4/15/2063		45,000		44,341

				2,105,486

Health Care REITs - 0.5%
Ventas Realty LP
REIT, 4.00%, 3/1/2028		80,000		74,381
REIT, 3.00%, 1/15/2030		50,000		42,714
Welltower OP LLC
REIT, 3.85%, 6/15/2032		100,000		88,751

				205,846

Hotel & Resort REITs - 0.2%
Host Hotels & Resorts LP
Series F, REIT, 4.50%, 2/1/2026		75,000		72,650

Hotels, Restaurants & Leisure - 0.8%
Marriott International, Inc.
5.00%, 10/15/2027		30,000		29,833
Series HH, 2.85%, 4/15/2031		50,000		42,330
Series II, 2.75%, 10/15/2033		5,000		3,970
McDonald’s Corp.
3.50%, 7/1/2027		75,000		71,519
4.70%, 12/9/2035		50,000		48,364
4.88%, 12/9/2045		50,000		47,542
3.63%, 9/1/2049		65,000		50,468
5.15%, 9/9/2052		10,000		9,900

				303,926

Household Durables - 0.2%
Lennar Corp.
5.00%, 6/15/2027		40,000		39,465


Investments	Principal Amount ($)		Value ($)
NVR, Inc.
3.00%, 5/15/2030		20,000		17,307
Whirlpool Corp.
4.50%, 6/1/2046		20,000		16,517

				73,289

Household Products - 0.3%
Clorox Co. (The)
4.60%, 5/1/2032		20,000		19,534
Kimberly-Clark Corp.
3.10%, 3/26/2030		75,000		68,218
2.88%, 2/7/2050		50,000		35,417

				123,169

Independent Power and Renewable Electricity Producers - 0.2%
Constellation Energy Generation LLC
3.25%, 6/1/2025		75,000		71,807

Industrial REITs - 0.2%
Prologis LP
REIT, 4.63%, 1/15/2033		70,000		68,106
REIT, 3.00%, 4/15/2050		35,000		23,773

				91,879

Insurance - 3.1%
Aflac, Inc.
3.60%, 4/1/2030		50,000		45,808
Allstate Corp. (The)
3.85%, 8/10/2049		40,000		30,969
American International Group, Inc.
4.75%, 4/1/2048		75,000		67,431
Arch Capital Finance LLC
5.03%, 12/15/2046		15,000		13,324
Chubb INA Holdings, Inc.
3.35%, 5/3/2026		150,000		144,053
1.38%, 9/15/2030		20,000		15,824
4.35%, 11/3/2045		20,000		17,877
Everest Reinsurance Holdings, Inc.
3.13%, 10/15/2052		50,000		32,761
Fidelity National Financial, Inc.
3.20%, 9/17/2051		20,000		11,930
Hartford Financial Services Group, Inc. (The)
3.60%, 8/19/2049		35,000		26,245
2.90%, 9/15/2051		20,000		13,142
Lincoln National Corp.
3.05%, 1/15/2030		30,000		25,059
4.38%, 6/15/2050		15,000		10,660
Manulife Financial Corp.
4.06%, 2/24/2032(a)		75,000		70,306
MetLife, Inc.
4.55%, 3/23/2030		30,000		29,359
10.75%, 8/1/2039		50,000		64,631
4.60%, 5/13/2046		40,000		35,840
5.00%, 7/15/2052		35,000		32,819
5.25%, 1/15/2054		20,000		19,482
Principal Financial Group, Inc.
3.70%, 5/15/2029		50,000		46,041
2.13%, 6/15/2030		50,000		41,024
Prudential Financial, Inc.
1.50%, 3/10/2026		150,000		137,415


Investments	Principal Amount ($)		Value ($)
4.50%, 9/15/2047(a)		75,000		68,669
4.35%, 2/25/2050		50,000		42,693
3.70%, 3/13/2051		20,000		15,310
6.00%, 9/1/2052(a)		80,000		76,772
Travelers Cos., Inc. (The)
4.00%, 5/30/2047		60,000		50,093
Unum Group
4.13%, 6/15/2051		20,000		14,538

				1,200,075

Interactive Media & Services - 1.2%
Alphabet, Inc.
0.80%, 8/15/2027		100,000		87,202
1.10%, 8/15/2030		15,000		12,144
2.05%, 8/15/2050		75,000		46,219
Meta Platforms, Inc.
4.60%, 5/15/2028		270,000		269,164
4.65%, 8/15/2062		60,000		53,057

				467,786

IT Services - 1.5%
International Business Machines Corp.
4.00%, 7/27/2025		465,000		454,813
2.85%, 5/15/2040		175,000		126,875

				581,688

Leisure Products - 0.2%
Hasbro, Inc.
3.90%, 11/19/2029		50,000		45,499
6.35%, 3/15/2040		15,000		15,288

				60,787

Machinery - 0.8%
Cummins, Inc.
1.50%, 9/1/2030		75,000		60,638
Otis Worldwide Corp.
3.11%, 2/15/2040		75,000		57,795
Stanley Black & Decker, Inc.
3.40%, 3/1/2026		100,000		95,075
4.00%, 3/15/2060(a)		145,000		110,937

				324,445

Marine Transportation - 0.1%
Kirby Corp.
4.20%, 3/1/2028		30,000		28,332

Media - 2.2%
Comcast Corp.
2.65%, 2/1/2030		100,000		87,497
4.65%, 2/15/2033		100,000		98,754
4.00%, 3/1/2048		80,000		66,230
2.89%, 11/1/2051		490,000		325,954
2.99%, 11/1/2063		90,000		56,572
Fox Corp.
4.71%, 1/25/2029		75,000		72,763
Interpublic Group of Cos., Inc. (The)
3.38%, 3/1/2041		50,000		36,201
Paramount Global
4.38%, 3/15/2043		75,000		52,023
4.95%, 5/19/2050		60,000		44,461

				840,455


Investments	Principal Amount ($)		Value ($)
Metals & Mining - 0.4%
Newmont Corp.
5.88%, 4/1/2035		85,000		86,588
Nucor Corp.
3.13%, 4/1/2032		50,000		43,316
Yamana Gold, Inc.
2.63%, 8/15/2031		10,000		7,716

				137,620

Multi-Utilities - 2.4%
CenterPoint Energy, Inc.
1.45%, 6/1/2026		120,000		107,621
Consolidated Edison Co. of New York, Inc.
2.40%, 6/15/2031		75,000		62,516
4.50%, 5/15/2058		100,000		83,921
3.60%, 6/15/2061		35,000		25,005
NiSource, Inc.
0.95%, 8/15/2025		250,000		229,031
1.70%, 2/15/2031		80,000		62,562
Public Service Enterprise Group, Inc.
5.85%, 11/15/2027		175,000		179,250
Puget Energy, Inc.
4.10%, 6/15/2030		70,000		63,338
San Diego Gas & Electric Co.
2.95%, 8/15/2051		125,000		84,447
Sempra
4.00%, 2/1/2048		50,000		38,971

				936,662

Office REITs - 0.6%
Boston Properties LP
REIT, 3.25%, 1/30/2031		75,000		61,820
REIT, 2.45%, 10/1/2033		50,000		36,158
Brandywine Operating Partnership LP
REIT, 7.55%, 3/15/2028		20,000		18,407
Highwoods Realty LP
REIT, 3.05%, 2/15/2030		30,000		23,449
Hudson Pacific Properties LP
REIT, 5.95%, 2/15/2028		30,000		24,891
Kilroy Realty LP
REIT, 4.38%, 10/1/2025		75,000		70,504

				235,229

Oil, Gas & Consumable Fuels - 7.7%
BP Capital Markets America, Inc.
3.38%, 2/8/2061		75,000		52,922
Canadian Natural Resources Ltd.
2.95%, 7/15/2030		130,000		111,783
Cheniere Corpus Christi Holdings LLC
3.70%, 11/15/2029		25,000		22,812
ConocoPhillips Co.
3.76%, 3/15/2042		70,000		58,601
5.95%, 3/15/2046		35,000		37,273
Devon Energy Corp.
5.00%, 6/15/2045		45,000		39,641
Enbridge, Inc.
2.50%, 8/1/2033		175,000		137,215
5.50%, 12/1/2046		20,000		18,979
5.50%, 7/15/2077(a)		75,000		67,757


Investments	Principal Amount ($)		Value ($)
Hess Corp.
6.00%, 1/15/2040		25,000		24,945
Kinder Morgan Energy Partners LP
6.95%, 1/15/2038		75,000		81,699
5.40%, 9/1/2044		30,000		26,727
Kinder Morgan, Inc.
4.30%, 6/1/2025		475,000		464,304
2.00%, 2/15/2031		20,000		15,930
5.55%, 6/1/2045		50,000		46,685
3.60%, 2/15/2051		15,000		10,448
Magellan Midstream Partners LP
3.95%, 3/1/2050		50,000		35,584
Marathon Petroleum Corp.
4.50%, 4/1/2048		70,000		55,384
MPLX LP
1.75%, 3/1/2026		75,000		68,430
2.65%, 8/15/2030		25,000		21,003
4.50%, 4/15/2038		100,000		86,192
5.50%, 2/15/2049		55,000		50,192
Occidental Petroleum Corp.
5.88%, 9/1/2025		450,000		450,763
6.60%, 3/15/2046		25,000		26,495
ONEOK, Inc.
4.50%, 3/15/2050		100,000		76,726
Plains All American Pipeline LP
4.50%, 12/15/2026		120,000		116,225
Sabine Pass Liquefaction LLC
4.50%, 5/15/2030		25,000		23,731
Suncor Energy, Inc.
3.75%, 3/4/2051		80,000		58,411
Targa Resources Corp.
6.13%, 3/15/2033		90,000		92,348
TotalEnergies Capital International SA
2.83%, 1/10/2030		75,000		66,990
3.13%, 5/29/2050		55,000		39,503
Transcanada Trust
5.60%, 3/7/2082(a)		265,000		223,233
Transcontinental Gas Pipe Line Co. LLC
3.25%, 5/15/2030		50,000		44,544
Valero Energy Corp.
2.80%, 12/1/2031		75,000		62,387
4.00%, 6/1/2052		30,000		22,746
Western Midstream Operating LP
5.30%, 3/1/2048		35,000		30,003
Williams Cos., Inc. (The)
5.75%, 6/24/2044		50,000		48,944
5.10%, 9/15/2045		55,000		49,708
5.30%, 8/15/2052		20,000		18,496

				2,985,759

Paper & Forest Products - 0.2%
Suzano Austria GmbH
Series DM3N, 3.13%, 1/15/2032		75,000		60,169

Personal Care Products - 1.3%
Estee Lauder Cos., Inc. (The)
3.15%, 3/15/2027		75,000		71,295


Investments	Principal Amount ($)		Value ($)
4.38%, 5/15/2028		30,000		29,510
1.95%, 3/15/2031		50,000		40,905
Haleon US Capital LLC
3.38%, 3/24/2027		250,000		235,282
Kenvue, Inc.
5.00%, 3/22/2030(d)		50,000		50,455
5.10%, 3/22/2043(d)		60,000		60,172

				487,619

Pharmaceuticals - 5.2%
AstraZeneca Finance LLC
4.88%, 3/3/2033		50,000		50,411
AstraZeneca plc
4.00%, 9/18/2042		30,000		26,472
4.38%, 11/16/2045		75,000		68,452
3.00%, 5/28/2051		20,000		14,608
Bristol-Myers Squibb Co.
3.90%, 3/15/2062		135,000		106,363
GlaxoSmithKline Capital plc
3.38%, 6/1/2029		50,000		46,604
GlaxoSmithKline Capital, Inc.
6.38%, 5/15/2038		25,000		28,404
Johnson & Johnson
3.63%, 3/3/2037		270,000		242,046
2.10%, 9/1/2040		15,000		10,508
3.70%, 3/1/2046		75,000		64,974
2.25%, 9/1/2050		30,000		19,560
2.45%, 9/1/2060		10,000		6,324
Merck & Co., Inc.
4.05%, 5/17/2028		200,000		196,731
3.40%, 3/7/2029		75,000		70,215
2.35%, 6/24/2040		200,000		142,367
2.75%, 12/10/2051		50,000		33,731
Mylan, Inc.
5.20%, 4/15/2048		55,000		43,756
Novartis Capital Corp.
2.00%, 2/14/2027		75,000		68,796
2.75%, 8/14/2050		75,000		53,329
Pfizer Investment Enterprises Pte. Ltd.
4.45%, 5/19/2028		185,000		181,877
5.34%, 5/19/2063		150,000		150,431
Pfizer, Inc.
0.80%, 5/28/2025		75,000		69,678
3.45%, 3/15/2029		75,000		70,940
1.75%, 8/18/2031		50,000		40,488
7.20%, 3/15/2039		85,000		104,072
2.55%, 5/28/2040		50,000		36,465
2.70%, 5/28/2050		50,000		34,934
Viatris, Inc.
3.85%, 6/22/2040		14,000		9,956
4.00%, 6/22/2050		35,000		23,657

				2,016,149

Professional Services - 0.4%
Automatic Data Processing, Inc.
1.70%, 5/15/2028		80,000		70,221
Verisk Analytics, Inc.
4.13%, 3/15/2029		90,000		86,601

				156,822


Investments	Principal Amount ($)		Value ($)
Real Estate Management & Development - 0.1%
CBRE Services, Inc.
2.50%, 4/1/2031		30,000		24,100

Residential REITs - 0.7%
AvalonBay Communities, Inc.
REIT, 2.95%, 5/11/2026		150,000		141,456
REIT, 5.00%, 2/15/2033		50,000		49,958
ERP Operating LP
REIT, 3.00%, 7/1/2029		100,000		88,922

				280,336

Retail REITs - 0.4%
Brixmor Operating Partnership LP
REIT, 3.90%, 3/15/2027		50,000		46,443
REIT, 2.50%, 8/16/2031		10,000		7,812
Federal Realty OP LP
REIT, 1.25%, 2/15/2026		70,000		62,931
Regency Centers LP
REIT, 3.70%, 6/15/2030		40,000		35,893

				153,079

Semiconductors & Semiconductor Equipment - 1.8%
Intel Corp.
3.75%, 3/25/2027		150,000		144,623
2.00%, 8/12/2031		70,000		56,991
5.63%, 2/10/2043		80,000		81,006
3.73%, 12/8/2047		70,000		54,666
4.75%, 3/25/2050		200,000		179,713
4.95%, 3/25/2060		50,000		45,968
Micron Technology, Inc.
5.88%, 9/15/2033		80,000		79,588
QUALCOMM, Inc.
3.45%, 5/20/2025		75,000		72,813

				715,368

Software - 2.9%
Adobe, Inc.
2.30%, 2/1/2030		50,000		43,805
Autodesk, Inc.
2.85%, 1/15/2030		100,000		87,533
Microsoft Corp.
2.40%, 8/8/2026		90,000		84,323
3.30%, 2/6/2027		200,000		191,867
3.45%, 8/8/2036		50,000		45,139
2.53%, 6/1/2050		280,000		190,732
2.92%, 3/17/2052		60,000		43,833
2.68%, 6/1/2060		50,000		33,085
3.04%, 3/17/2062		30,000		21,456
Oracle Corp.
6.90%, 11/9/2052		50,000		56,017
Salesforce, Inc.
1.50%, 7/15/2028		75,000		64,680
2.90%, 7/15/2051		75,000		51,804
VMware, Inc.
1.40%, 8/15/2026		150,000		132,897
Workday, Inc.
3.70%, 4/1/2029		75,000		70,004

				1,117,175


Investments	Principal Amount ($)		Value ($)
Specialized REITs - 0.4%
Equinix, Inc.
REIT, 3.20%, 11/18/2029		75,000		66,095
REIT, 3.40%, 2/15/2052		50,000		34,641
Weyerhaeuser Co.
REIT, 3.38%, 3/9/2033		75,000		64,401

				165,137

Specialty Retail - 1.2%
Dick’s Sporting Goods, Inc.
4.10%, 1/15/2052		15,000		10,280
Lowe’s Cos., Inc.
2.50%, 4/15/2026		50,000		46,844
3.65%, 4/5/2029		75,000		69,870
2.63%, 4/1/2031		75,000		63,376
5.00%, 4/15/2033		115,000		113,875
5.50%, 10/15/2035		50,000		50,481
2.80%, 9/15/2041		50,000		35,212
3.00%, 10/15/2050		50,000		32,722
4.45%, 4/1/2062		40,000		32,140
5.85%, 4/1/2063		20,000		20,065
Tractor Supply Co.
1.75%, 11/1/2030		10,000		7,905

				482,770

Technology Hardware, Storage & Peripherals - 3.4%
Apple, Inc.
0.55%, 8/20/2025		420,000		384,773
3.25%, 2/23/2026		125,000		120,595
2.38%, 2/8/2041		130,000		94,576
3.85%, 5/4/2043		150,000		133,236
4.45%, 5/6/2044		170,000		164,078
4.65%, 2/23/2046		50,000		49,055
4.10%, 8/8/2062		70,000		60,989
Dell International LLC
8.10%, 7/15/2036		74,000		86,139
3.38%, 12/15/2041(d)		50,000		35,541
Hewlett Packard Enterprise Co.
5.25%, 7/1/2028		75,000		74,647
HP, Inc.
2.65%, 6/17/2031		58,000		47,446
6.00%, 9/15/2041		50,000		50,800

				1,301,875

Textiles, Apparel & Luxury Goods - 0.2%
PVH Corp.
4.63%, 7/10/2025		30,000		29,099
Ralph Lauren Corp.
2.95%, 6/15/2030		20,000		17,677
Tapestry, Inc.
3.05%, 3/15/2032		10,000		7,986
VF Corp.
2.95%, 4/23/2030		40,000		33,140

				87,902

Water Utilities - 0.7%
American Water Capital Corp.
3.40%, 3/1/2025		100,000		96,846
2.30%, 6/1/2031		150,000		124,525


Investments	Principal Amount ($)		Value ($)
Essential Utilities, Inc.
2.70%, 4/15/2030		50,000		42,410

				263,781

Wireless Telecommunication Services - 0.5%
T-Mobile USA, Inc.
3.88%, 4/15/2030		5,000		4,594
Vodafone Group plc
4.88%, 6/19/2049		25,000		21,957
5.63%, 2/10/2053		160,000		155,419

				181,970

TOTAL CORPORATE BONDS (Cost $41,216,736)				37,935,443


Investments	Principal Amount ($)		Value ($)
ASSET-BACKED SECURITIES - 0.1%
Oglethorpe Power Corp.
4.25%, 4/1/2046 (Cost $14,710)		20,000		14,732

Total Investments - 98.3% (Cost $41,231,446)				37,950,175
Other assets less liabilities - 1.7%				671,657

Net Assets - 100.0%				38,621,832

(a)	Security issued at a fixed coupon rate, which converts to a variable rate at a future date. Rate shown is the rate in effect as of period end.

(b)	Step bond. Interest rate is a fixed rate for an initial period that either resets at a specific date or may reset in the future at a contingent upon predetermined trigger. The interest rate shown was the current rate as of July 31, 2023.

(c)	Represents less than 0.05% of net assets.

(d)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

Percentages shown are based on Net Assets.


Abbreviations

REIT		Real Estate Investment Trust

FlexShares^® Ultra-Short Income Fund (Formerly FlexShares^® Ready Access Variable Income Fund)


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 76.3%

Aerospace & Defense - 1.6%
Boeing Co. (The)
1.95%, 2/1/2024		900,000		881,965
1.43%, 2/4/2024		3,000,000		2,931,096
L3Harris Technologies, Inc.
3.95%, 5/28/2024		4,065,000		4,002,323
RTX Corp.
3.20%, 3/15/2024		8,205,000		8,082,135

				15,897,519

Automobiles - 2.5%
BMW US Capital LLC
(United States SOFR Compounded Index + 0.53%), 5.86%, 4/1/2024(a)(b)		900,000		900,878
Hyundai Capital America
1.25%, 9/18/2023(b)		910,000		904,403
0.80%, 1/8/2024(b)		1,700,000		1,662,303
0.88%, 6/14/2024(b)		1,000,000		958,129
Kia Corp.
2.38%, 2/14/2025(b)		730,000		693,647
Mercedes-Benz Finance North America LLC
0.75%, 3/1/2024(b)		2,350,000		2,276,869
(SOFR + 0.93%), 6.00%, 3/30/2025(a)(b)		5,000,000		5,028,914
(SOFR + 0.57%), 5.90%, 8/1/2025(a)(b)		7,000,000		7,000,000
Nissan Motor Acceptance Co. LLC
1.13%, 9/16/2024(b)		900,000		847,477
Volkswagen Group of America Finance LLC
0.88%, 11/22/2023(b)		2,000,000		1,968,442
(SOFR + 0.95%), 6.30%, 6/7/2024(a)(b)		2,690,000		2,701,715

				24,942,777

Banks - 24.3%
ANZ New Zealand Int’l Ltd.
(SOFR + 0.60%), 5.96%, 2/18/2025(a)(b)		1,450,000		1,449,889
Australia & New Zealand Banking Group Ltd.
5.38%, 7/3/2025		4,290,000		4,295,399
5.09%, 12/8/2025		1,505,000		1,498,000
Banco Santander SA
(SOFR + 1.24%), 6.34%, 5/24/2024(a)		5,800,000		5,831,836
5.15%, 8/18/2025		1,400,000		1,381,386
Bank of America Corp.
4.13%, 1/22/2024		4,000,000		3,980,276
(SOFR + 0.73%), 6.03%, 10/24/2024(a)		2,200,000		2,199,653

FlexShares^® Ultra-Short Income Fund (Formerly FlexShares^® Ready Access Variable Income Fund) (cont.)


Investments	Principal Amount ($)		Value ($)
Danske Bank A/S
6.47%, 1/9/2026(b)(c)		1,280,000		1,285,420
Fifth Third Bank NA
5.85%, 10/27/2025(c)		8,500,000		8,366,589
HSBC Holdings plc
0.73%, 8/17/2024(c)		2,240,000		2,233,819
(SOFR + 1.43%), 6.51%, 3/10/2026(a)		7,000,000		7,044,233
ING Groep NV
4.10%, 10/2/2023		3,300,000		3,287,971
(United States SOFR Compounded Index + 1.01%), 6.08%, 4/1/2027(a)		3,800,000		3,741,644
JPMorgan Chase & Co.
4.02%, 12/5/2024(c)		2,500,000		2,483,494
0.77%, 8/9/2025(c)		1,000,000		946,569
(SOFR + 0.92%), 6.27%, 2/24/2026(a)		7,000,000		7,013,057
(SOFR + 0.77%), 6.09%, 9/22/2027(a)		2,500,000		2,464,254
KeyBank NA
(United States SOFR Compounded Index + 0.34%), 5.67%, 1/3/2024(a)		4,800,000		4,789,440
(United States SOFR Compounded Index + 0.32%), 5.66%, 6/14/2024(a)		2,000,000		1,956,587
Lloyds Banking Group plc
4.05%, 8/16/2023		4,729,000		4,725,596
3.90%, 3/12/2024		1,000,000		986,910
4.72%, 8/11/2026(c)		2,300,000		2,252,111
Mitsubishi UFJ Financial Group, Inc.
4.79%, 7/18/2025(c)		2,000,000		1,977,261
(SOFR + 0.94%), 6.04%, 2/20/2026(a)		5,000,000		5,000,231
(SOFR + 1.44%), 6.50%, 4/17/2026(a)		2,500,000		2,520,067
Mizuho Financial Group, Inc.
(ICE LIBOR USD 3 Month + 0.61%), 6.12%, 9/8/2024(a)		2,900,000		2,899,878
National Australia Bank Ltd.
(SOFR + 0.86%), 6.20%, 6/9/2025(a)(b)		5,200,000		5,222,474
(SOFR + 0.65%), 5.96%, 1/12/2027(a)(b)		4,000,000		3,969,071
National Bank of Canada
0.75%, 8/6/2024		900,000		854,984
NatWest Markets plc
(SOFR + 0.53%), 5.89%, 8/12/2024(a)(b)		600,000		597,360


Investments	Principal Amount ($)		Value ($)
Nordea Bank Abp
(SOFR + 0.96%), 6.31%, 6/6/2025(a)(b)		2,000,000		2,004,523
PNC Financial Services Group, Inc. (The)
3.50%, 1/23/2024		6,500,000		6,435,272
Royal Bank of Canada
3.97%, 7/26/2024		3,000,000		2,949,102
(United States SOFR Compounded Index + 0.44%), 5.75%, 1/21/2025(a)		3,000,000		2,988,304
4.95%, 4/25/2025		3,000,000		2,967,557
(United States SOFR Compounded Index + 0.53%), 5.83%, 1/20/2026(a)		2,750,000		2,724,045
(United States SOFR Compounded Index + 0.57%), 5.87%, 4/27/2026(a)		2,000,000		1,978,893
Skandinaviska Enskilda Banken AB
0.55%, 9/1/2023(b)		5,000,000		4,977,600
(ICE LIBOR USD 3 Month + 0.32%), 5.82%, 9/1/2023(a)(b)		2,800,000		2,800,012
0.65%, 9/9/2024(b)		500,000		472,464
(SOFR + 0.96%), 6.30%, 6/9/2025(a)(b)		1,000,000		1,003,402
Societe Generale SA
2.63%, 10/16/2024(b)		1,000,000		958,852
Standard Chartered plc
6.17%, 1/9/2027(b)(c)		2,100,000		2,118,063
Sumitomo Mitsui Financial Group, Inc.
0.51%, 1/12/2024		300,000		292,616
(SOFR + 0.88%), 5.94%, 1/14/2027(a)		1,480,000		1,463,086
Sumitomo Mitsui Trust Bank Ltd.
0.80%, 9/12/2023(b)		900,000		894,890
0.85%, 3/25/2024(b)		400,000		387,234
Svenska Handelsbanken AB
3.90%, 11/20/2023		1,500,000		1,491,471
(United States SOFR Compounded Index + 0.91%), 6.26%, 6/10/2025(a)(b)		7,000,000		7,018,620
Swedbank AB
(United States SOFR Compounded Index + 1.38%), 6.71%, 6/15/2026(a)(b)		3,000,000		3,024,378
Toronto-Dominion Bank (The)
0.45%, 9/11/2023		2,606,000		2,590,965
2.65%, 6/12/2024		2,000,000		1,947,369
(SOFR + 0.41%), 5.74%, 1/10/2025(a)		2,777,000		2,762,448

FlexShares^® Ultra-Short Income Fund (Formerly FlexShares^® Ready Access Variable Income Fund) (cont.)


Investments	Principal Amount ($)		Value ($)
(SOFR + 0.59%), 5.94%, 9/10/2026(a)		2,000,000		1,974,217
Truist Financial Corp.
(SOFR + 0.40%), 5.74%, 6/9/2025(a)		3,750,000		3,666,828
US Bancorp
3.70%, 1/30/2024		3,000,000		2,966,550
2.40%, 7/30/2024		2,913,000		2,821,697
Wells Fargo & Co.
(SOFR + 1.32%), 6.63%, 4/25/2026(a)		5,600,000		5,647,275
Westpac Banking Corp.
3.30%, 2/26/2024		2,200,000		2,172,344
(SOFR + 1.00%), 6.35%, 8/26/2025(a)		5,000,000		5,042,163
(SOFR + 0.52%), 5.87%, 6/3/2026(a)		2,568,000		2,549,332

				244,678,510

Beverages - 1.2%
Constellation Brands, Inc.
3.60%, 5/9/2024		1,590,000		1,562,367
Diageo Capital plc
3.50%, 9/18/2023		2,775,000		2,766,774
Keurig Dr Pepper, Inc.
3.13%, 12/15/2023		4,000,000		3,968,225
0.75%, 3/15/2024		3,500,000		3,393,845

				11,691,211

Biotechnology - 2.2%
AbbVie, Inc.
2.60%, 11/21/2024		6,373,000		6,135,173
Amgen, Inc.
3.63%, 5/22/2024		8,000,000		7,865,993
Gilead Sciences, Inc.
0.75%, 9/29/2023		6,624,000		6,573,098
3.70%, 4/1/2024		1,100,000		1,085,693

				21,659,957

Capital Markets - 6.8%
Bank of New York Mellon Corp. (The)
0.35%, 12/7/2023		4,312,000		4,234,524
Series 0012, 3.65%, 2/4/2024		3,000,000		2,968,407
Series J, (SOFR + 0.20%), 5.51%, 10/25/2024(a)		2,800,000		2,783,338
Blackstone Private Credit Fund
2.70%, 1/15/2025		800,000		753,248
Charles Schwab Corp. (The)
(United States SOFR Compounded Index + 0.50%), 5.59%, 3/18/2024(a)		1,390,000		1,387,130
(United States SOFR Compounded Index + 0.52%), 5.89%, 5/13/2026(a)		1,000,000		986,680


Investments	Principal Amount ($)		Value ($)
(United States SOFR Compounded Index + 1.05%), 6.40%, 3/3/2027(a)		7,000,000		6,943,536
Credit Suisse AG
3.63%, 9/9/2024		1,500,000		1,456,214
Deutsche Bank AG
0.90%, 5/28/2024		1,100,000		1,053,807
FS KKR Capital Corp.
1.65%, 10/12/2024		980,000		918,804
Goldman Sachs Group, Inc. (The)
3.00%, 3/15/2024		2,500,000		2,456,402
0.66%, 9/10/2024(c)		2,600,000		2,583,362
5.70%, 11/1/2024		3,000,000		2,996,319
3.50%, 4/1/2025		1,500,000		1,446,750
Macquarie Group Ltd.
(SOFR + 0.71%), 6.02%, 10/14/2025(a)(b)		5,000,000		4,969,094
Moody’s Corp.
4.88%, 2/15/2024		2,400,000		2,382,830
Morgan Stanley
(SOFR + 0.46%), 5.76%, 1/25/2024(a)		2,200,000		2,199,144
1.16%, 10/21/2025(c)		500,000		469,927
(SOFR + 0.95%), 6.30%, 2/18/2026(a)		7,000,000		7,008,125
State Street Corp.
(United States SOFR Compounded Index + 0.85%), 6.18%, 8/3/2026(a)		10,000,000		10,000,000
UBS AG
0.70%, 8/9/2024(b)		200,000		190,050
UBS Group AG
(SOFR + 1.58%), 6.94%, 5/12/2026(a)(b)		6,000,000		6,063,000
6.37%, 7/15/2026(b)(c)		1,900,000		1,901,780

				68,152,471

Chemicals - 0.3%
Ecolab, Inc.
0.90%, 12/15/2023		2,525,000		2,480,130
Sherwin-Williams Co. (The)
4.05%, 8/8/2024		700,000		688,180
Westlake Corp.
0.88%, 8/15/2024		300,000		284,416

				3,452,726

Consumer Finance - 3.8%
AerCap Ireland Capital DAC
(SOFR + 0.68%), 6.00%, 9/29/2023(a)		900,000		899,143
1.65%, 10/29/2024		4,750,000		4,488,307
American Express Co.
3.40%, 2/22/2024		2,500,000		2,466,693

FlexShares^® Ultra-Short Income Fund (Formerly FlexShares^® Ready Access Variable Income Fund) (cont.)


Investments	Principal Amount ($)		Value ($)
(United States SOFR Compounded Index + 0.72%), 6.09%, 5/3/2024(a)		3,000,000		3,004,544
2.50%, 7/30/2024		2,000,000		1,938,581
(SOFR + 0.93%), 6.28%, 3/4/2025(a)		1,914,000		1,921,758
American Honda Finance Corp.
(ICE LIBOR USD 3 Month + 0.42%), 5.93%, 9/8/2023(a)		600,000		600,214
0.55%, 7/12/2024		2,000,000		1,907,668
0.75%, 8/9/2024		2,000,000		1,905,579
Capital One Financial Corp.
(SOFR + 1.35%), 6.71%, 5/9/2025(a)		2,000,000		1,985,089
General Motors Financial Co., Inc.
1.70%, 8/18/2023		380,000		379,236
(SOFR + 0.76%), 6.10%, 3/8/2024(a)		800,000		799,797
3.50%, 11/7/2024		2,600,000		2,525,331
John Deere Capital Corp.
(SOFR + 0.20%), 5.26%, 10/11/2024(a)		2,500,000		2,496,900
(SOFR + 0.56%), 5.65%, 3/7/2025(a)		1,720,000		1,723,956
(United States SOFR Compounded Index + 0.79%), 5.88%, 6/8/2026(a)		1,300,000		1,305,253
Synchrony Financial
4.88%, 6/13/2025		1,493,000		1,442,607
Toyota Motor Credit Corp.
(SOFR + 0.32%), 5.63%, 1/13/2025(a)		7,000,000		6,981,342

				38,771,998

Consumer Staples Distribution & Retail - 1.4%
7-Eleven, Inc.
0.80%, 2/10/2024(b)		5,000,000		4,865,029
Dollar General Corp.
4.25%, 9/20/2024		840,000		826,947
Kroger Co. (The)
3.85%, 8/1/2023		945,000		945,000
4.00%, 2/1/2024		6,200,000		6,149,257
Walgreens Boots Alliance, Inc.
0.95%, 11/17/2023		1,770,000		1,745,421

				14,531,654

Containers & Packaging - 0.5%
Avery Dennison Corp.
0.85%, 8/15/2024		1,040,000		985,933
Graphic Packaging International LLC
0.82%, 4/15/2024(b)		4,000,000		3,855,613

				4,841,546


Investments	Principal Amount ($)		Value ($)
Diversified Telecommunication Services - 2.2%
AT&T, Inc.
(ICE LIBOR USD 3 Month + 1.18%), 6.72%, 6/12/2024(a)		3,550,000		3,573,509
Bell Canada (The)
Series US-3, 0.75%, 3/17/2024		5,050,000		4,888,359
British Telecommunications plc
4.50%, 12/4/2023		5,500,000		5,471,514
Verizon Communications, Inc.
0.75%, 3/22/2024		2,000,000		1,935,403
(ICE LIBOR USD 3 Month + 1.10%), 6.42%, 5/15/2025(a)		1,000,000		1,007,850
(United States SOFR Compounded Index + 0.79%), 5.88%, 3/20/2026(a)		5,000,000		5,050,686

				21,927,321

Electric Utilities - 2.0%
American Electric Power Co., Inc.
Series A, (ICE LIBOR USD 3 Month + 0.48%), 5.78%, 11/1/2023(a)		1,400,000		1,399,514
Entergy Louisiana LLC
0.62%, 11/17/2023		846,000		833,372
Eversource Energy
Series T, (United States SOFR Compounded Index + 0.25%), 5.62%, 8/15/2023(a)		1,500,000		1,498,860
Series N, 3.80%, 12/1/2023		3,000,000		2,981,034
Florida Power & Light Co.
(United States SOFR Compounded Index + 0.38%), 5.69%, 1/12/2024(a)		4,400,000		4,400,000
Mississippi Power Co.
Series A, (SOFR + 0.30%), 5.62%, 6/28/2024(a)		950,000		944,041
NextEra Energy Capital Holdings, Inc.
2.94%, 3/21/2024		2,000,000		1,963,722
Southern Co. (The)
Series 21-A, 0.60%, 2/26/2024		1,840,000		1,786,091
Xcel Energy, Inc.
0.50%, 10/15/2023		4,000,000		3,957,811

				19,764,445

Electronic Equipment, Instruments & Components - 0.1%
Tyco Electronics Group SA
3.45%, 8/1/2024		1,347,000		1,318,065

FlexShares^® Ultra-Short Income Fund (Formerly FlexShares^® Ready Access Variable Income Fund) (cont.)


Investments	Principal Amount ($)		Value ($)
Energy Equipment & Services - 0.7%
Baker Hughes Holdings LLC
1.23%, 12/15/2023		3,000,000		2,952,550
Schlumberger Investment SA
3.65%, 12/1/2023		4,546,000		4,514,000

				7,466,550

Entertainment - 0.2%
Take-Two Interactive Software, Inc.
3.30%, 3/28/2024		1,939,000		1,904,929
3.55%, 4/14/2025		240,000		231,822

				2,136,751

Financial Services - 2.3%
Corebridge Financial, Inc.
3.50%, 4/4/2025		2,300,000		2,207,231
Element Fleet Management Corp.
1.60%, 4/6/2024(b)		5,500,000		5,323,865
6.27%, 6/26/2026(b)		2,820,000		2,833,200
Fidelity National Information Services, Inc.
0.60%, 3/1/2024		4,110,000		3,982,920
Fiserv, Inc.
3.80%, 10/1/2023		5,200,000		5,180,707
Global Payments, Inc.
1.50%, 11/15/2024		240,000		226,730
Jackson Financial, Inc.
1.13%, 11/22/2023		950,000		936,018
NTT Finance Corp.
0.58%, 3/1/2024(b)		2,650,000		2,570,171

				23,260,842

Food Products - 2.2%
Conagra Brands, Inc.
0.50%, 8/11/2023		560,000		559,236
Danone SA
2.59%, 11/2/2023(b)		3,025,000		3,000,401
General Mills, Inc.
(CME Term SOFR 3 Month + 1.27%), 6.58%, 10/17/2023(a)		650,000		650,410
3.65%, 2/15/2024		6,000,000		5,930,614
Hormel Foods Corp.
0.65%, 6/3/2024		280,000		268,613
Kellogg Co.
2.65%, 12/1/2023		2,000,000		1,981,403
McCormick & Co., Inc.
0.90%, 2/15/2026		620,000		554,842
Mondelez International, Inc.
2.13%, 3/17/2024		3,500,000		3,420,831
Tyson Foods, Inc.
3.95%, 8/15/2024		6,250,000		6,138,328

				22,504,678

Ground Transportation - 1.1%
Burlington Northern Santa Fe LLC
3.75%, 4/1/2024		5,000,000		4,937,102
Canadian Pacific Railway Co.
1.35%, 12/2/2024		910,000		859,709


Investments	Principal Amount ($)		Value ($)
Ryder System, Inc.
3.65%, 3/18/2024		5,000,000		4,931,221

				10,728,032

Health Care Equipment & Supplies - 2.6%
Baxter International, Inc.
0.87%, 12/1/2023		1,800,000		1,771,249
(United States SOFR Compounded Index + 0.44%), 5.54%, 11/29/2024(a)		1,435,000		1,424,237
Becton Dickinson & Co.
3.36%, 6/6/2024		6,800,000		6,661,314
Boston Scientific Corp.
3.45%, 3/1/2024		6,127,000		6,044,018
GE HealthCare Technologies, Inc.
5.55%, 11/15/2024		3,000,000		2,996,631
Stryker Corp.
0.60%, 12/1/2023		6,910,000		6,790,445
Zimmer Biomet Holdings, Inc.
1.45%, 11/22/2024		650,000		615,672

				26,303,566

Health Care Providers & Services - 1.1%
Cigna Group (The)
0.61%, 3/15/2024		2,400,000		2,322,102
3.50%, 6/15/2024		2,078,000		2,040,716
HCA, Inc.
5.00%, 3/15/2024		400,000		397,963
McKesson Corp.
3.80%, 3/15/2024		5,000,000		4,936,730
UnitedHealth Group, Inc.
0.55%, 5/15/2024		1,580,000		1,519,412

				11,216,923

Hotels, Restaurants & Leisure - 0.5%
Hyatt Hotels Corp.
1.30%, 10/1/2023		500,000		496,218
Starbucks Corp.
3.85%, 10/1/2023		2,000,000		1,993,329
(United States SOFR Compounded Index + 0.42%), 5.79%, 2/14/2024(a)		2,370,000		2,370,110

				4,859,657

Household Durables - 0.4%
Lennar Corp.
4.88%, 12/15/2023		3,940,000		3,927,158

Household Products - 0.1%
Colgate-Palmolive Co.
3.10%, 8/15/2025		1,480,000		1,428,701

Industrial Conglomerates - 0.6%
3M Co.
3.25%, 2/14/2024		3,062,000		3,027,510

FlexShares^® Ultra-Short Income Fund (Formerly FlexShares^® Ready Access Variable Income Fund) (cont.)


Investments	Principal Amount ($)		Value ($)
General Electric Co.
Series A, (CME Term SOFR 3 Month + 0.56%), 5.87%, 5/13/2024(a)		3,000,000		2,991,298

				6,018,808

Insurance - 1.0%
Athene Global Funding
1.20%, 10/13/2023(b)		1,900,000		1,879,049
(ICE LIBOR USD 3 Month + 0.73%), 6.27%, 1/8/2024(a)(b)		1,000,000		995,962
MetLife, Inc.
3.60%, 4/10/2024		3,500,000		3,442,620
New York Life Global Funding
(United States SOFR Compounded Index + 0.33%), 5.64%, 1/14/2025(a)(b)		2,000,000		1,995,426
Protective Life Global Funding
0.63%, 10/13/2023(b)		900,000		890,365
Security Benefit Global Funding
1.25%, 5/17/2024(b)		650,000		621,088

				9,824,510

IT Services - 0.9%
International Business Machines Corp.
3.38%, 8/1/2023		7,000,000		7,000,000
3.63%, 2/12/2024		1,500,000		1,483,782
3.00%, 5/15/2024		500,000		490,573

				8,974,355

Life Sciences Tools & Services - 0.8%
Thermo Fisher Scientific, Inc.
0.80%, 10/18/2023		1,000,000		989,571
1.22%, 10/18/2024		6,090,000		5,781,383
(United States SOFR Compounded Index + 0.53%), 5.85%, 10/18/2024(a)		1,018,000		1,018,000

				7,788,954

Machinery - 1.6%
CNH Industrial Capital LLC
3.95%, 5/23/2025		1,290,000		1,252,662
Daimler Truck Finance North America LLC
(SOFR + 0.60%), 5.93%, 12/14/2023(a)(b)		2,000,000		2,000,771
Illinois Tool Works, Inc.
3.50%, 3/1/2024		4,330,000		4,274,229
Parker-Hannifin Corp.
3.65%, 6/15/2024		7,000,000		6,875,356
Stanley Black & Decker, Inc.
6.27%, 3/6/2026		2,020,000		2,027,764

				16,430,782

Media - 0.4%
Fox Corp.
4.03%, 1/25/2024		4,000,000		3,963,037


Investments	Principal Amount ($)		Value ($)
Multi-Utilities - 0.9%
Black Hills Corp.
1.04%, 8/23/2024		960,000		911,899
CenterPoint Energy, Inc.
(United States SOFR Compounded Index + 0.65%), 6.02%, 5/13/2024(a)		760,000		758,997
Consolidated Edison, Inc.
Series A, 0.65%, 12/1/2023		3,600,000		3,540,742
Dominion Energy, Inc.
Series D, (ICE LIBOR USD 3 Month + 0.53%), 6.08%, 9/15/2023(a)		2,000,000		2,000,096
DTE Energy Co.
4.22%, 11/1/2024(d)		1,700,000		1,667,256

				8,878,990

Office REITs - 0.6%
Boston Properties LP
REIT, 3.13%, 9/1/2023		5,575,000		5,560,030
REIT, 3.80%, 2/1/2024		1,000,000		980,608

				6,540,638

Oil, Gas & Consumable Fuels - 3.0%
ConocoPhillips Co.
2.13%, 3/8/2024		5,000,000		4,894,799
Enbridge, Inc.
(United States SOFR Compounded Index + 0.63%), 6.00%, 2/16/2024(a)		4,700,000		4,702,082
Enterprise Products Operating LLC
5.05%, 1/10/2026		720,000		719,462
Kinder Morgan Energy Partners LP
3.50%, 9/1/2023		4,410,000		4,401,460
Kinder Morgan, Inc.
5.63%, 11/15/2023(b)		1,150,000		1,148,974
Phillips 66
0.90%, 2/15/2024		5,000,000		4,869,544
Saudi Arabian Oil Co.
1.25%, 11/24/2023(b)		200,000		196,803
TotalEnergies Capital International SA
3.75%, 4/10/2024		5,600,000		5,526,715
TransCanada PipeLines Ltd.
3.75%, 10/16/2023		2,000,000		1,991,417
1.00%, 10/12/2024		2,010,000		1,900,959

				30,352,215

Paper & Forest Products - 0.2%
Georgia-Pacific LLC
0.63%, 5/15/2024(b)		2,200,000		2,115,438

Personal Care Products - 0.2%
Kenvue, Inc.
5.50%, 3/22/2025(b)		2,305,000		2,314,073

FlexShares^® Ultra-Short Income Fund (Formerly FlexShares^® Ready Access Variable Income Fund) (cont.)


Investments	Principal Amount ($)		Value ($)
Pharmaceuticals - 0.9%
AstraZeneca plc
(ICE LIBOR USD 3 Month + 0.67%), 6.00%, 8/17/2023(a)		480,000		479,827
Bayer US Finance II LLC
3.88%, 12/15/2023(b)		5,000,000		4,966,499
Bristol-Myers Squibb Co.
0.54%, 11/13/2023		700,000		690,242
Shire Acquisitions Investments Ireland DAC
2.88%, 9/23/2023		2,925,000		2,911,406

				9,047,974

Semiconductors & Semiconductor Equipment - 0.1%
Analog Devices, Inc.
(SOFR + 0.25%), 5.58%, 10/1/2024(a)		610,000		609,462
Microchip Technology, Inc.
0.98%, 9/1/2024		870,000		825,735

				1,435,197

Software - 1.6%
Autodesk, Inc.
4.38%, 6/15/2025		2,000,000		1,955,838
Oracle Corp.
2.40%, 9/15/2023		4,350,000		4,333,041
2.95%, 11/15/2024		1,980,000		1,918,736
Roper Technologies, Inc.
3.65%, 9/15/2023		4,727,000		4,713,698
VMware, Inc.
0.60%, 8/15/2023		3,590,000		3,582,954

				16,504,267

Specialized REITs - 0.6%
Public Storage
REIT, (SOFR + 0.47%), 5.79%, 4/23/2024(a)		4,000,000		4,000,065
REIT, (United States SOFR Compounded Index + 0.60%), 5.90%, 7/25/2025(a)		1,990,000		1,991,834

				5,991,899

Specialty Retail - 1.3%
AutoZone, Inc.
3.13%, 4/18/2024		3,993,000		3,907,658
Lowe’s Cos., Inc.
3.88%, 9/15/2023		4,012,000		4,002,939
Ross Stores, Inc.
4.60%, 4/15/2025		5,011,000		4,913,308

				12,823,905

Technology Hardware, Storage & Peripherals - 0.3%
Hewlett Packard Enterprise Co.
5.90%, 10/1/2024		3,200,000		3,202,743

Textiles, Apparel & Luxury Goods - 0.5%
VF Corp.
2.40%, 4/23/2025		5,000,000		4,707,162


Investments	Principal Amount ($)		Value ($)
Trading Companies & Distributors - 0.2%
Air Lease Corp.
4.25%, 2/1/2024		1,000,000		991,354
0.80%, 8/18/2024		980,000		928,922

				1,920,276

Wireless Telecommunication Services - 0.5%
Rogers Communications, Inc.
4.10%, 10/1/2023		2,000,000		1,993,314
Sprint LLC
7.13%, 6/15/2024		3,000,000		3,028,233

				5,021,547

TOTAL CORPORATE BONDS (COST $772,660,340)				769,319,828


Investments	Principal Amount ($)		Value ($)
ASSET-BACKED SECURITIES - 4.1%
BMW Vehicle Lease Trust
Series 2021-2, Class A3, 0.33%, 12/26/2024		1,073,545		1,063,128
Series 2023-1, Class A2, 5.27%, 2/25/2025		479,361		478,421
Series 2022-1, Class A3, 1.10%, 3/25/2025		238,068		234,483
Capital One Multi-Asset Execution Trust
Series 2021-A3, Class A3, 1.04%, 11/15/2026		2,900,000		2,741,792
Carmax Auto Owner Trust
Series 2022-3, Class A2A, 3.81%, 9/15/2025		839,844		833,734
Dell Equipment Finance Trust
Series 2023-1, Class A2, 5.65%, 9/22/2028(b)		2,000,000		1,989,401
Ford Credit Auto Lease Trust
Series 2022-A, Class A2A, 2.78%, 10/15/2024		153,784		153,436
Series 2022-A, Class A3, 3.23%, 5/15/2025		1,000,000		989,085
Ford Credit Auto Owner Trust
Series 2022-C, Class A2A, 4.52%, 4/15/2025		2,175,529		2,167,100
Series 2022-D, Class A2A, 5.37%, 8/15/2025		874,642		872,751
Series 2023-A, Class A2A, 5.14%, 3/15/2026		580,000		577,396
Series 2023-B, Class A2A, 5.57%, 6/15/2026		1,200,000		1,198,913
GM Financial Automobile Leasing Trust
Series 2022-3, Class A2A, 4.01%, 10/21/2024		1,439,399		1,433,446
Series 2022-2, Class A3, 3.42%, 6/20/2025		1,000,000		984,503

FlexShares^® Ultra-Short Income Fund (Formerly FlexShares^® Ready Access Variable Income Fund) (cont.)


Investments	Principal Amount ($)		Value ($)
GM Financial Consumer Automobile Receivables Trust
Series 2020-1, Class A4, 1.90%, 3/17/2025		387,779		386,109
Series 2022-3, Class A2A, 3.50%, 9/16/2025		1,120,058		1,111,152
Series 2023-1, Class A2A, 5.19%, 3/16/2026		770,000		767,269
Series 2021-2, Class A3, 0.51%, 4/16/2026		927,723		898,395
Series 2021-3, Class A3, 0.48%, 6/16/2026		1,173,842		1,129,606
Series 2023-3, Class A2A, 5.74%, 9/16/2026		400,000		400,103
Honda Auto Receivables Owner Trust
Series 2022-2, Class A2, 3.81%, 3/18/2025		977,795		971,004
Hyundai Auto Receivables Trust
Series 2022-A, Class A2A, 1.81%, 2/18/2025		347,441		345,216
Series 2022-B, Class A2A, 3.64%, 5/15/2025		584,949		580,810
Series 2021-A, Class A3, 0.38%, 9/15/2025		953,692		930,337
Series 2020-B, Class A4, 0.62%, 12/15/2025		1,439,000		1,409,663
Mercedes-Benz Auto Lease Trust
Series 2021-B, Class A4, 0.51%, 3/15/2027		700,000		678,712
Mercedes-Benz Auto Receivables Trust
Series 2022-1, Class A2, 5.26%, 10/15/2025		1,178,943		1,176,134
Series 2023-1, Class A2, 5.09%, 1/15/2026		599,610		597,434
Nissan Auto Lease Trust
Series 2021-A, Class A3, 0.52%, 8/15/2024		740,952		736,183
Nissan Auto Receivables Owner Trust
Series 2022-B, Class A2, 4.50%, 8/15/2025		2,460,590		2,446,515
Santander Drive Auto Receivables Trust
Series 2022-7, Class A2, 5.81%, 1/15/2026		756,712		756,275
Series 2023-1, Class A2, 5.36%, 5/15/2026		1,676,927		1,672,947
Series 2023-3, Class A2, 6.08%, 8/17/2026		1,400,000		1,399,982
Toyota Auto Receivables Owner Trust
Series 2020-B, Class A3, 1.36%, 8/15/2024		35,864		35,790
Series 2022-D, Class A2A, 5.27%, 1/15/2026		1,084,976		1,081,829
Verizon Master Trust
Series 2021-1, Class A, 0.50%, 5/20/2027		3,000,000		2,875,385


Investments	Principal Amount ($)		Value ($)
World Omni Auto Receivables Trust
Series 2022-C, Class A2, 3.73%, 3/16/2026		1,425,783		1,411,780
Series 2021-B, Class A3, 0.42%, 6/15/2026		1,374,883		1,327,068

TOTAL ASSET-BACKED SECURITIES (COST $40,811,798)				40,843,287


Investments	Principal Amount ($)		Value ($)
MUNICIPAL BONDS - 0.4%
University of Missouri, System Facilities Revenue Bonds
Series 2020-A, 1.47%, 11/1/2023		1,000,000		989,562

City of New York
Series 2021-D, 0.59%, 8/1/2023		1,800,000		1,800,000

Anaheim Public Financing Authority
Series 2021-A, 0.63%, 7/1/2024		500,000		477,203
New York City Transitional Finance Authority, Building Aid
Series 2022 Subseries S-1B, 0.64%, 7/15/2024		1,000,000		953,655

				1,430,858

TOTAL MUNICIPAL BONDS (COST $4,300,000)				4,220,420


Investments	Principal Amount ($)		Value ($)
SHORT-TERM INVESTMENTS - 19.6%(e)

U.S. TREASURY OBLIGATIONS - 19.6%
U.S. Treasury Bills
5.21%, 8/15/2023		15,000,000		14,969,251
5.05%, 8/22/2023		20,000,000		19,938,706
5.22%, 9/7/2023		20,000,000		19,891,801
5.27%, 9/19/2023		10,000,000		9,928,406
4.79%, 9/28/2023		20,000,000		19,829,732
4.95%, 10/19/2023		20,000,000		19,769,144
4.97%, 10/26/2023		20,000,000		19,748,557
4.91%, 11/2/2023		15,000,000		14,795,265
5.40%, 11/9/2023		15,000,000		14,780,104
5.41%, 11/30/2023		15,000,000		14,735,439
5.22%, 12/14/2023		10,000,000		9,802,506

FlexShares^® Ultra-Short Income Fund (Formerly FlexShares^® Ready Access Variable Income Fund) (cont.)

FlexShares^® Ultra-Short Income Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of July 31, 2023:

For the period ended July 31, 2023, the FlexShares^® Core Select Bond Fund was invested in securities of affiliated FlexShares^® Funds. The Schedules of Investments of the affiliated FlexShares^® Funds are located elsewhere in this Report.

Investment in a company which was affiliated for the period ended July 31, 2023, was as follows:

FlexShares^® Core Select Bond Fund had the following open futures contracts as of July 31, 2023:

Various inputs are used in determining the value of each Fund’s investments. These inputs are summarized in three levels listed below:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term debt securities may be valued at amortized cost, as long as amortized cost approximates the current fair value of a security, but since the valuation is not obtained from a quoted price in an active market, such securities are reflected as Level 2.

The following is a summary of the valuations as of July 31, 2023 for each Fund based upon the three levels defined above. Please refer to the Schedules of Investments to view equity and debt securities segregated by industry type where applicable.


	Number of Contracts		Expiration Date		Trading Currency		Notional Amount		Value and Unrealized Appreciation
Long Contracts
S&P 500 E-Mini Index		3		09/15/2023		USD	$	692,175	$	40,465
S&P 500 Micro E-Mini Index		1		09/15/2023		USD		23,073		1,359

									$	41,824


Contracts to Receive		Counterparty	In Exchange For			Maturity Date		Unrealized Appreciation/ (Depreciation)
CAD	262,812	Citibank NA		USD	198,094		09/20/2023	$	1,707
EUR	204,814	Toronto-Dominion Bank (The)		USD	224,827		09/20/2023		1,554
GBP	42,671	Toronto-Dominion Bank (The)		USD	54,727		09/20/2023		187
SGD	16,357	JPMorgan Chase Bank NA		USD	12,256		09/20/2023		93
USD	112,825	Toronto-Dominion Bank (The)		AUD	165,194		09/20/2023		1,313
USD	182,885	Citibank NA		JPY	25,122,339		09/20/2023		4,655

Total unrealized appreciation								$	9,509

AUD	147,906	Toronto-Dominion Bank (The)		USD	101,848		09/20/2023	$	(2,006	)
ILS	73,522	Citibank NA		USD	20,469		09/20/2023		(362	)
USD	130,323	Toronto-Dominion Bank (The)		CAD	171,700		09/20/2023		(210	)
USD	189,000	Toronto-Dominion Bank (The)		CHF	167,993		09/20/2023		(5,858	)
USD	44,371	JPMorgan Chase Bank NA		DKK	303,190		09/20/2023		(621	)
USD	401,473	Toronto-Dominion Bank (The)		EUR	368,628		09/20/2023		(5,972	)
USD	79,523	JPMorgan Chase Bank NA		GBP	62,610		09/20/2023		(1,050	)
USD	59,517	Goldman Sachs & Co.		HKD	464,999		09/20/2023		(132	)
USD	12,526	Toronto-Dominion Bank (The)		NOK	131,563		09/20/2023		(499	)
USD	25,577	Citibank NA		NZD	41,229		09/20/2023		(84	)
USD	72,390	JPMorgan Chase Bank NA		SEK	767,599		09/20/2023		(844	)

Total unrealized depreciation								$	(17,638	)

Net unrealized depreciation								$	(8,129	)


Security Type	% of Net Assets
Common Stocks		99.7	%
Securities Lending Reinvestments		0.1
Short-Term Investments		0.0	^†
Others⁽¹⁾		0.2

		100.0	%


Australia	2.4	%
Canada	9.8
Denmark	2.4
Finland	2.2
France	7.7
Germany	3.7
Hong Kong	6.0
Israel	3.6
Italy	0.4
Japan	23.0
Netherlands	4.7
New Zealand	0.0	^†
Portugal	0.8
Singapore	5.3
Spain	3.0
Switzerland	13.7
United Kingdom	10.2
Other¹	1.1

	100.0	%


Brazil	3.0	%
China	21.2
India	13.6
Indonesia	3.4
Kuwait	3.5
Malaysia	4.5
Mexico	0.4
Morocco	1.5
Peru	0.0	^†
Philippines	1.0
Qatar	3.3
Saudi Arabia	6.2
South Africa	0.9
South Korea	8.1
Taiwan	17.3
Thailand	4.7
United Arab Emirates	5.5
Other¹	1.9

	100.0	%


Abbreviations
CVR		Contingent Value Rights
REIT		Real Estate Investment Trust
SOFR		Secured Overnight Financing Rate


Security	Value October 31, 2022		Purchases at Cost		Sales Proceeds		Shares July 31, 2023		Value July 31, 2023		Change in Unrealized Appreciation (Depreciation)			Dividend Income		Realized Loss
Northern Trust Corp.	$	564,807	$	60,865	$	179,406		5,046	$	404,286	$	(24,132	)	$	15,705	$	(17,848	)


	Number of Contracts		Expiration Date		Trading Currency		Notional Amount		Value and Unrealized Appreciation
Long Contracts
Russell 2000 E-Mini Index		23		09/15/2023		USD	$	2,315,640	$	133,912
S&P 500 E-Mini Index		25		09/15/2023		USD		5,768,125		271,683
S&P Midcap 400 E-Mini Index		5		09/15/2023		USD		1,371,700		64,323

									$	469,918


Abbreviations
ADR		American Depositary Receipt
CHDI		Clearing House Electronic Subregister System (CHESS) Depository Interest
CVA		Dutch Certification
OYJ		Public Limited Company
Preference		A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.
REIT		Real Estate Investment Trust
SCA		Limited partnership with share capital
SDR		Swedish Depositary Receipt


Australia	5.8	%
Austria	0.3
Belgium	1.1
Canada	10.9
Denmark	2.2
Finland	0.7
France	7.6
Germany	6.5
Hong Kong	2.1
Ireland	0.3
Israel	1.1
Italy	2.9
Japan	24.9
Macau	0.0	^†
Netherlands	3.5
New Zealand	0.4
Norway	1.3
Poland	0.5
Portugal	0.2
Singapore	1.2
Spain	2.3
Sweden	3.2
Switzerland	6.1
United Kingdom	12.8
United States	0.1
Other¹	2.0

	100.0	%


Abbreviations
ADR		American Depositary Receipt
GDR		Global Depositary Receipt
NVDR		Non-Voting Depositary Receipt
OJSC		Open Joint Stock Company
PJSC		Public Joint Stock Company
Preference		A special type of equity investment that shares in the earnings of the company, has limited voting rights, and may have a dividend preference. Preference shares may also have liquidation preference.
REIT		Real Estate Investment Trust
SCA		Limited partnership with share capital


Brazil	6.8	%
Chile	1.2
China	24.2
Colombia	0.6
Czech Republic	0.3
Egypt	0.3
Greece	0.5
Hungary	0.3
India	12.9
Indonesia	2.4
Kuwait	0.7
Malaysia	2.4
Mexico	2.4
Peru	0.3
Philippines	1.0
Qatar	1.2
Saudi Arabia	2.6
South Africa	4.4
South Korea	12.9
Taiwan	14.5
Thailand	2.0
Turkey	1.6
United Arab Emirates	2.4
United Kingdom	0.0	^†
United States	0.6
Other¹	1.5

	100.0	%


Abbreviations:

USD — US Dollar


Abbreviations:

CHF	—	Swiss Franc
GBP	—	British Pound
JPY	—	Japanese Yen
USD	—	US Dollar


	Number of Contracts		Expiration Date		Trading Currency	Notional Amount		Value and Unrealized Appreciation
Long Contracts
FTSE 100 Index		94		09/15/2023	GBP	$	9,299,469	$	157,175
FTSE/JSE Top 40 Index		58		09/21/2023	ZAR		2,409,525		52,233
Hang Seng Index		36		08/30/2023	HKD		4,663,008		226,240
MSCI Emerging Markets E-Mini Index		1		09/15/2023	USD		52,715		3,194
Russell 2000 E-Mini Index		91		09/15/2023	USD		9,161,880		557,530
S&P Midcap 400 E-Mini Index		16		09/15/2023	USD		4,389,440		226,182
S&P/TSX 60 Index		141		09/14/2023	CAD		26,566,382		846,914
SPI 200 Index		41		09/21/2023	AUD		5,082,143		164,719

								$	2,234,187


Abbreviations:

AUD	—	Australian Dollar
BRL	—	Brazilian Real
CAD	—	Canadian Dollar
CHF	—	Swiss Franc
EUR	—	Euro
GBP	—	British Pound
HKD	—	Hong Kong Dollar
INR	—	Indian Rupee
JPY	—	Japanese Yen
KRW	—	Korean Won
MXN	—	Mexican Peso
NOK	—	Norwegian Krone
NZD	—	New Zealand Dollar
SEK	—	Swedish Krona
SGD	—	Singapore Dollar
TWD	—	Taiwan Dollar
USD	—	US Dollar
ZAR	—	South African Rand


Security Type	% of Net Assets
Exchange Traded Funds		100.0	%
Others⁽¹⁾		0.0

		100.0	%


Security Type	% of Net Assets
U.S. Treasury Obligations		99.9	%
Others⁽¹⁾		0.1

		100.0	%


Abbreviations

FHLMC		Federal Home Loan Mortgage Corp.
FNMA		Federal National Mortgage Association
GNMA		Government National Mortgage Association
UMBS		Uniform Mortgage-Backed Securities


Security Type	% of Net Assets
Mortgage-Backed Securities		99.2	%
Others⁽¹⁾		0.8

		100.0	%


Security Type	% of Net Assets
Corporate Bonds		96.9	%
Others⁽¹⁾		3.1

		100.0	%


Abbreviations

CME		Chicago Mercantile Exchange
ICE		Intercontinental Exchange
LIBOR		London Interbank Offered Rate
REIT		Real Estate Investment Trust
SOFR		Secured Overnight Financing Rate
USD		US Dollar


	Level 1 — Quoted Prices		Level 2 — Other Significant Observable Inputs			Level 3 — Significant Unobservable Inputs		Total
FlexShares^® US Quality Low Volatility Index Fund

Investments
Common Stocks*	$	199,140,848	$	—		$	—	$	199,140,848
Securities Lending Reinvestments
Repurchase Agreements		—		285,399			—		285,399
Short-Term Investments		—		59,246			—		59,246

Total Investments	$	199,140,848	$	344,645		$	—	$	199,485,493

Other Financial Instruments
Assets
Futures Contracts	$	41,824	$	—		$	—	$	41,824

Total Other Financial Instruments	$	41,824	$	—		$	—	$	41,824


	Level 1 — Quoted Prices		Level 2 — Other Significant Observable Inputs			Level 3 — Significant Unobservable Inputs		Total
FlexShares^® Developed Markets ex-US Quality Low Volatility Index Fund

Investments
Common Stocks*	$	71,744,326	$	—		$	—	$	71,744,326
Securities Lending Reinvestments
Repurchase Agreements		—		372,493			—		372,493

Total Investments	$	71,744,326	$	372,493		$	—	$	72,116,819

Other Financial Instruments
Assets
Futures Contracts	$	24,986	$	—		$	—	$	24,986
Forward Foreign Currency Contracts		—		9,509			—		9,509
Liabilities
Forward Foreign Currency Contracts		—		(17,638	)		—		(17,638	)

Total Other Financial Instruments	$	24,986	$	(8,129	)	$	—	$	16,857


	Level 1 — Quoted Prices		Level 2 — Other Significant Observable Inputs			Level 3 — Significant Unobservable Inputs		Total
FlexShares^® Emerging Markets Quality Low Volatility Index Fund

Investments
Common Stocks*	$	18,749,142	$	—		$	—	$	18,749,142
Rights		—		56			—		56

Total Investments	$	18,749,142	$	56		$	—	$	18,749,198

Other Financial Instruments
Assets
Futures Contracts	$	19,890	$	—		$	—	$	19,890

Total Other Financial Instruments	$	19,890	$	—		$	—	$	19,890


	Level 1 — Quoted Prices		Level 2 — Other Significant Observable Inputs			Level 3 — Significant Unobservable Inputs		Total
FlexShares^® Quality Dividend Index Fund
Investments
Common Stocks*	$	1,645,933,832	$	—		$	—	$	1,645,933,832
Securities Lending Reinvestments
Certificates of Deposit		—		24,005,601			—		24,005,601
Commercial Paper		—		2,000,272			—		2,000,272
Investment Companies		—		15,000,000			—		15,000,000
Repurchase Agreements		—		67,998,128			—		67,998,128
Time Deposits		—		1,000,000			—		1,000,000

Total Investments	$	1,645,933,832	$	110,004,001		$	—	$	1,755,937,833

Other Financial Instruments
Assets
Futures Contracts	$	490,551	$	—		$	—	$	490,551

Total Other Financial Instruments	$	490,551	$	—		$	—	$	490,551


	Level 1 — Quoted Prices		Level 2 — Other Significant Observable Inputs			Level 3 — Significant Unobservable Inputs		Total
FlexShares^® Quality Dividend Defensive Index Fund
Investments
Common Stocks*	$	344,608,757	$	—		$	—	$	344,608,757
Securities Lending Reinvestments
Repurchase Agreements		—		19,092,151			—		19,092,151

Total Investments	$	344,608,757	$	19,092,151		$	—	$	363,700,908

Other Financial Instruments
Assets
Futures Contracts	$	134,839	$	—		$	—	$	134,839

Total Other Financial Instruments	$	134,839	$	—		$	—	$	134,839


	Level 1 — Quoted Prices		Level 2 — Other Significant Observable Inputs			Level 3 — Significant Unobservable Inputs		Total
FlexShares^® International Quality Dividend Index Fund
Investments
Common Stocks*	$	557,354,894	$	—		$	—	$	557,354,894
Rights		—		151			—		151
Securities Lending Reinvestments
Repurchase Agreements		—		6,608,276			—		6,608,276

Total Investments	$	557,354,894	$	6,608,427		$	—	$	563,963,321

Other Financial Instruments
Assets
Futures Contracts	$	650,493	$	—		$	—	$	650,493
Forward Foreign Currency Contracts		—		117,617			—		117,617
Liabilities
Forward Foreign Currency Contracts		—		(165,297	)		—		(165,297	)

Total Other Financial Instruments	$	650,493	$	(47,680	)	$	—	$	602,813


	Level 1 — Quoted Prices			Level 2 — Other Significant Observable Inputs		Level 3 — Significant Unobservable Inputs		Total
FlexShares^® Core Select Bond Fund
Investments
Exchange Traded Funds	$	196,774,191		$	—	$	—	$	196,774,191
Securities Lending Reinvestments
Repurchase Agreements		—			8,592,399		—		8,592,399
Short-Term Investments		—			78,994		—		78,994

Total Investments	$	196,774,191		$	8,671,393	$	—	$	205,445,584

Other Financial Instruments
Liabilities
Futures Contracts	$	(156,382	)	$	—	$	—	$	(156,382	)

Total Other Financial Instruments	$	(156,382	)	$	—	$	—	$	(156,382	)