FlexShares Trust

The Trust’s Schedule of Investments as of the close of the reporting period prepared pursuant to Rule 12-12 of Regulation S-X is as follows:


Investments	Shares		Value ($)
COMMON STOCKS - 99.1%
Aerospace & Defense - 1.9%
AAR Corp.		8,256		311,086
Aerojet Rocketdyne Holdings, Inc.*(a)		13,158		519,346
Aerovironment, Inc.*		1,806		140,254
Arconic, Inc.		12,900		242,778
Astronics Corp.*		1,168		35,823
Axon Enterprise, Inc.*		5,418		276,372
Boeing Co. (The)		19,350		7,461,747
BWX Technologies, Inc.(a)		2,064		95,811
Curtiss-Wright Corp.		3,354		380,746
Esterline Technologies Corp.*		5,160		627,972
General Dynamics Corp.		8,772		1,501,503
Harris Corp.		3,612		553,286
HEICO Corp.(a)		8,433		712,589
Hexcel Corp.		7,224		489,137
Huntington Ingalls Industries, Inc.		2,580		532,641
Kratos Defense & Security Solutions, Inc.*		13,158		203,818
L3 Technologies, Inc.		2,580		507,950
Lockheed Martin Corp.		8,256		2,391,681
Mercury Systems, Inc.*		3,870		226,898
Moog, Inc., Class A		6,192		553,998
National Presto Industries, Inc.		516		61,724
Northrop Grumman Corp.		6,192		1,706,206
Raytheon Co.		8,772		1,445,275
Spirit AeroSystems Holdings, Inc., Class A		9,546		796,136
Teledyne Technologies, Inc.*		2,838		636,336
Textron, Inc.		9,804		521,867
TransDigm Group, Inc.*		774		302,634
Triumph Group, Inc.(a)		18,060		322,371
United Technologies Corp.		27,763		3,277,977
Wesco Aircraft Holdings, Inc.*		11,868		103,726

				26,939,688

Air Freight & Logistics - 0.6%
Air Transport Services Group, Inc.*		18,576		441,180
Atlas Air Worldwide Holdings, Inc.*		4,386		233,423
CH Robinson Worldwide, Inc.		3,612		313,413
Echo Global Logistics, Inc.*		1,290		30,650
Expeditors International of Washington, Inc.		4,902		339,709
FedEx Corp.		12,384		2,199,027
Forward Air Corp.		3,354		196,310
Hub Group, Inc., Class A*		10,578		470,827
United Parcel Service, Inc., Class B		33,282		3,507,923
XPO Logistics, Inc.*(a)		9,030		548,843

				8,281,305

Airlines - 0.7%
Alaska Air Group, Inc.		5,676		362,980
Allegiant Travel Co.		3,612		469,560


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Airlines - (continued)
American Airlines Group, Inc.(a)		30,960		1,107,439
Delta Air Lines, Inc.		35,604		1,759,906
Hawaiian Holdings, Inc.(a)		11,094		355,230
JetBlue Airways Corp.*		19,092		343,465
SkyWest, Inc.		19,866		1,012,173
Southwest Airlines Co.		21,930		1,244,747
Spirit Airlines, Inc.*		20,124		1,183,693
United Continental Holdings, Inc.*		16,512		1,441,002

				9,280,195

Auto Components - 0.6%
Adient plc		37,668		743,566
American Axle & Manufacturing Holdings, Inc.*(a)		49,536		732,142
Aptiv plc		10,836		857,453
Autoliv, Inc.(a)		1,032		82,405
BorgWarner, Inc.		258		10,552
Cooper Tire & Rubber Co.(a)		16,254		572,141
Cooper-Standard Holdings, Inc.*		7,740		591,800
Dana, Inc.		22,962		404,590
Dorman Products, Inc.*(a)		2,064		177,401
Fox Factory Holding Corp.*		2,580		153,071
Garrett Motion, Inc.*(a)		27,195		434,304
Gentex Corp.		10,320		218,578
Gentherm, Inc.*		3,870		164,707
Goodyear Tire & Rubber Co. (The)		23,736		502,966
LCI Industries(a)		1,290		106,348
Lear Corp.		5,418		833,993
Modine Manufacturing Co.*		30,186		441,621
Motorcar Parts of America, Inc.*(a)		9,288		185,760
Standard Motor Products, Inc.		3,870		190,249
Stoneridge, Inc.*		8,514		222,301
Superior Industries International, Inc.		26,058		134,199
Tenneco, Inc., Class A		1,032		35,790
Tower International, Inc.		9,546		277,693
Veoneer, Inc.*(a)		9,583		285,669
Visteon Corp.*(a)		2,064		158,701

				8,518,000

Automobiles - 0.5%
Ford Motor Co.		240,714		2,118,283
General Motors Co.		63,726		2,486,589
Tesla, Inc.*(a)		5,418		1,663,434
Thor Industries, Inc.(a)		19,608		1,276,873
Winnebago Industries, Inc.		1,290		36,894

				7,582,073

Banks - 7.7%
1st Source Corp.		3,096		140,558
Ameris Bancorp		3,354		127,284
Associated Banc-Corp.		61,404		1,329,397
Banc of California, Inc.		10,578		154,227
BancFirst Corp.		3,612		193,892
Bancorp, Inc. (The)*		18,576		157,525
BancorpSouth Bank(a)		6,708		195,739
Bank of America Corp.		447,372		12,736,681
Bank of Hawaii Corp.		2,838		219,463


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
Bank OZK(a)		46,698		1,416,817
BankUnited, Inc.		43,860		1,482,907
Banner Corp.		2,838		154,785
BB&T Corp.		35,862		1,750,066
Berkshire Hills Bancorp, Inc.		16,254		442,922
BOK Financial Corp.		4,644		385,963
Boston Private Financial Holdings, Inc.		7,224		83,798
Bridge Bancorp, Inc.		5,418		166,820
Brookline Bancorp, Inc.		11,610		172,641
Bryn Mawr Bank Corp.		2,580		95,434
Cadence Bancorp		49,904		935,700
Camden National Corp.		2,322		94,087
Cathay General Bancorp(a)		6,450		239,424
CenterState Bank Corp.		3,870		95,976
Central Pacific Financial Corp.(a)		4,128		118,185
Chemical Financial Corp.		6,966		309,708
CIT Group, Inc.		14,190		655,436
Citigroup, Inc.		103,974		6,702,164
Citizens Financial Group, Inc.		24,252		822,628
City Holding Co.(a)		2,580		184,934
Columbia Banking System, Inc.		6,450		237,038
Comerica, Inc.		10,578		832,912
Commerce Bancshares, Inc.		1,971		117,866
Community Bank System, Inc.(a)		5,676		340,276
Community Trust Bancorp, Inc.		3,354		136,206
ConnectOne Bancorp, Inc.		4,386		87,720
Cullen/Frost Bankers, Inc.		1,806		175,688
CVB Financial Corp.(a)		12,384		271,333
Eagle Bancorp, Inc.*		1,806		99,113
East West Bancorp, Inc.		12,126		610,180
FB Financial Corp.		1,290		42,673
Fifth Third Bancorp		34,572		927,221
First BanCorp		34,056		362,696
First Busey Corp.		11,352		281,076
First Citizens BancShares, Inc., Class A		774		315,428
First Commonwealth Financial Corp.		10,320		140,352
First Financial Bancorp		11,610		305,691
First Financial Bankshares, Inc.(a)		4,386		267,985
First Foundation, Inc.*		4,644		67,477
First Hawaiian, Inc.		33,282		856,346
First Horizon National Corp.		14,190		208,309
First Internet Bancorp		9,030		180,600
First Interstate BancSystem, Inc., Class A		6,966		271,117
First Merchants Corp.		6,708		245,714
First Midwest Bancorp, Inc.		6,450		142,029
First of Long Island Corp. (The)		7,224		149,681
First Republic Bank(a)		6,450		623,264
Flushing Financial Corp.		10,836		240,343
FNB Corp.(a)		127,194		1,481,810
Franklin Financial Network, Inc.*(a)		3,870		123,337
Fulton Financial Corp.(a)		61,146		981,393
Glacier Bancorp, Inc.(a)		5,676		239,414
Great Southern Bancorp, Inc.		1,032		55,047
Great Western Bancorp, Inc.		21,414		755,700


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
Hancock Whitney Corp.		34,830		1,430,816
Hanmi Financial Corp.		2,322		50,921
Heartland Financial USA, Inc.(a)		1,290		58,514
Hilltop Holdings, Inc.		3,870		71,247
Home BancShares, Inc.(a)		62,178		1,138,479
Hope Bancorp, Inc.		58,824		841,771
Huntington Bancshares, Inc.(a)		65,532		867,644
IBERIABANK Corp.		8,772		648,163
Independent Bank Corp.		4,644		370,498
Independent Bank Group, Inc.		4,644		245,017
International Bancshares Corp.		19,350		686,345
Investors Bancorp, Inc.		10,062		122,153
JPMorgan Chase & Co.		158,670		16,422,345
KeyCorp		61,404		1,011,324
Lakeland Bancorp, Inc.		12,642		197,847
Lakeland Financial Corp.		4,386		197,502
LegacyTexas Financial Group, Inc.		10,836		431,706
Live Oak Bancshares, Inc.(a)		7,224		100,414
M&T Bank Corp.		5,934		976,380
MB Financial, Inc.		5,676		251,901
Metropolitan Bank Holding Corp.*		2,580		90,300
Midland States Bancorp, Inc.		3,612		87,085
NBT Bancorp, Inc.(a)		6,192		220,559
OFG Bancorp		31,476		610,005
Old National Bancorp		51,858		836,988
Opus Bank		3,870		80,883
Pacific Premier Bancorp, Inc.*		19,092		567,987
PacWest Bancorp(a)		14,706		567,505
Park National Corp.(a)		1,806		169,800
Peoples Bancorp, Inc.		1,290		41,280
People’s United Financial, Inc.		29,154		477,543
Pinnacle Financial Partners, Inc.(a)		10,062		541,034
PNC Financial Services Group, Inc. (The)		20,124		2,468,611
Popular, Inc.		18,576		1,014,435
Preferred Bank		1,548		72,075
Prosperity Bancshares, Inc.(a)		9,546		679,102
Regions Financial Corp.		38,958		590,993
Renasant Corp.		3,612		128,298
S&T Bancorp, Inc.(a)		6,450		247,809
Sandy Spring Bancorp, Inc.		4,644		151,441
ServisFirst Bancshares, Inc.		2,838		95,783
Signature Bank		3,612		459,844
Simmons First National Corp., Class A		33,024		817,014
South State Corp.		4,128		273,893
Southside Bancshares, Inc.(a)		3,096		102,137
Sterling Bancorp(a)		85,398		1,643,058
Stock Yards Bancorp, Inc.		4,644		160,543
SunTrust Banks, Inc.		26,574		1,579,027
SVB Financial Group*		1,806		421,484
Synovus Financial Corp.		27,351		968,772
TCF Financial Corp.		54,696		1,212,063
Texas Capital Bancshares, Inc.*		20,124		1,172,626
Tompkins Financial Corp.(a)		2,322		170,760
Towne Bank		5,418		140,651
TriCo Bancshares		1,806		68,122
Trustmark Corp.(a)		19,350		610,106
UMB Financial Corp.(a)		2,322		149,444


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
Umpqua Holdings Corp.		82,302		1,455,099
Union Bankshares Corp.(a)		7,740		244,274
United Bankshares, Inc.(a)		35,604		1,259,313
United Community Banks, Inc.		5,418		139,351
Univest Financial Corp.		9,030		212,115
US Bancorp		63,984		3,273,421
Valley National Bancorp(a)		115,584		1,168,554
Veritex Holdings, Inc.*		7,539		199,482
Washington Trust Bancorp, Inc.		2,838		147,690
Webster Financial Corp.		5,934		319,724
Wells Fargo & Co.		187,308		9,161,234
WesBanco, Inc.		14,706		597,211
Westamerica Bancorp(a)		258		16,166
Western Alliance Bancorp*		5,934		262,758
Wintrust Financial Corp.		3,870		275,312
Zions Bancorp NA(a)		13,416		638,467

				108,918,414

Beverages - 1.2%
Boston Beer Co., Inc. (The), Class A*		516		128,567
Brown-Forman Corp., Class B(a)		10,320		487,620
Coca-Cola Co. (The)		143,448		6,904,152
Coca-Cola Consolidated, Inc.		774		167,029
Constellation Brands, Inc., Class A		6,966		1,209,716
Keurig Dr Pepper, Inc.(a)		7,998		217,705
Molson Coors Brewing Co., Class B		2,064		137,483
Monster Beverage Corp.*		16,254		930,379
National Beverage Corp.		774		64,892
PepsiCo, Inc.		54,954		6,191,667

				16,439,210

Biotechnology - 2.9%
AbbVie, Inc.		72,756		5,841,579
Abeona Therapeutics, Inc.*		6,966		47,299
ACADIA Pharmaceuticals, Inc.*(a)		9,288		211,581
Acceleron Pharma, Inc.*		2,838		120,331
Adamas Pharmaceuticals, Inc.*		6,966		62,694
Agios Pharmaceuticals, Inc.*(a)		4,128		221,261
Aimmune Therapeutics, Inc.*(a)		4,128		97,091
Akebia Therapeutics, Inc.*		32,508		179,119
Albireo Pharma, Inc.*		2,064		53,664
Alexion Pharmaceuticals, Inc.*		9,288		1,142,053
Alkermes plc*		7,998		262,894
Alnylam Pharmaceuticals, Inc.*(a)		4,128		344,812
AMAG Pharmaceuticals, Inc.*(a)		9,288		152,045
Amgen, Inc.		33,798		6,323,944
Amicus Therapeutics, Inc.*(a)		14,448		173,954
AnaptysBio, Inc.*		2,064		136,885
Arena Pharmaceuticals, Inc.*		2,580		118,603
Array BioPharma, Inc.*		14,448		269,744
Atara Biotherapeutics, Inc.*		8,514		323,532
Audentes Therapeutics, Inc.*(a)		3,096		76,781
Biogen, Inc.*		7,482		2,497,342
BioMarin Pharmaceutical, Inc.*		6,708		658,524
Bluebird Bio, Inc.*(a)		2,838		378,674
Blueprint Medicines Corp.*		3,612		260,389
Celgene Corp.*		37,152		3,286,466
Clovis Oncology, Inc.*(a)		19,092		484,173


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Biotechnology - (continued)
Coherus Biosciences, Inc.*		10,578		142,380
CRISPR Therapeutics AG*(a)		1,548		50,202
Curis, Inc.*		1		1
CytomX Therapeutics, Inc.*		3,096		52,570
Dynavax Technologies Corp.*(a)		7,482		82,452
Editas Medicine, Inc.*(a)		3,870		84,095
Emergent BioSolutions, Inc.*		2,580		160,966
Epizyme, Inc.*		11,352		116,018
Esperion Therapeutics, Inc.*(a)		5,934		275,634
Exact Sciences Corp.*		4,386		395,091
Exelixis, Inc.*		21,930		516,890
FibroGen, Inc.*(a)		5,676		322,113
Five Prime Therapeutics, Inc.*		7,740		87,075
Flexion Therapeutics, Inc.*(a)		14,190		208,451
Geron Corp.*		258		297
Gilead Sciences, Inc.		63,210		4,425,332
Global Blood Therapeutics, Inc.*		4,386		210,133
Halozyme Therapeutics, Inc.*		11,094		179,501
Heron Therapeutics, Inc.*		3,354		90,223
ImmunoGen, Inc.*		18,060		94,815
Immunomedics, Inc.*(a)		11,610		171,712
Incyte Corp.*		7,482		602,974
Insmed, Inc.*(a)		9,288		225,791
Insys Therapeutics, Inc.*(a)		9,030		31,244
Intellia Therapeutics, Inc.*		4,128		58,370
Intercept Pharmaceuticals, Inc.*		774		93,406
Intrexon Corp.*(a)		11,352		86,956
Ionis Pharmaceuticals, Inc.*		5,418		314,244
Iovance Biotherapeutics, Inc.*(a)		18,834		172,331
Ironwood Pharmaceuticals, Inc.*(a)		12,384		169,166
La Jolla Pharmaceutical Co.*(a)		2,322		14,025
Lexicon Pharmaceuticals, Inc.*(a)		6,966		32,949
Ligand Pharmaceuticals, Inc.*(a)		2,064		243,758
Loxo Oncology, Inc.*		1,290		302,634
MacroGenics, Inc.*(a)		1,806		21,184
Madrigal Pharmaceuticals, Inc.*(a)		1,032		119,464
Minerva Neurosciences, Inc.*		17,286		113,742
Momenta Pharmaceuticals, Inc.*		8,256		97,916
Myriad Genetics, Inc.*		5,160		145,460
Neurocrine Biosciences, Inc.*		4,902		432,455
Novavax, Inc.*(a)		45,666		106,858
PDL BioPharma, Inc.*(a)		75,336		239,569
Portola Pharmaceuticals, Inc.*(a)		7,482		202,762
Progenics Pharmaceuticals, Inc.*		2,838		12,572
Puma Biotechnology, Inc.*(a)		3,354		93,510
Radius Health, Inc.*(a)		6,192		113,128
Regeneron Pharmaceuticals, Inc.*		1,548		664,510
REGENXBIO, Inc.*		1,290		56,708
Repligen Corp.*		2,322		132,377
Retrophin, Inc.*		3,354		72,312
Rigel Pharmaceuticals, Inc.*		258		557
Sage Therapeutics, Inc.*		2,322		331,094
Sangamo Therapeutics, Inc.*(a)		17,544		205,089
Sarepta Therapeutics, Inc.*(a)		4,902		684,858
Savara, Inc.*		17,286		131,201
Seattle Genetics, Inc.*(a)		3,096		236,627
Sorrento Therapeutics, Inc.*(a)		42,054		86,631
Spark Therapeutics, Inc.*		1,806		86,363
Spectrum Pharmaceuticals, Inc.*(a)		11,094		124,253


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Biotechnology - (continued)
TG Therapeutics, Inc.*(a)		2,838		11,636
Ultragenyx Pharmaceutical, Inc.*(a)		3,354		165,419
United Therapeutics Corp.*		1,806		208,286
Vertex Pharmaceuticals, Inc.*		9,288		1,773,172
Viking Therapeutics, Inc.*(a)		6,192		50,527
Voyager Therapeutics, Inc.*		4,386		46,009
ZIOPHARM Oncology, Inc.*(a)		17,028		38,143

				40,543,625

Building Products - 0.6%
AAON, Inc.(a)		5,160		190,610
American Woodmark Corp.*(a)		7,740		541,413
AO Smith Corp.(a)		6,708		321,045
Apogee Enterprises, Inc.(a)		8,514		290,072
Armstrong World Industries, Inc.		258		17,554
Builders FirstSource, Inc.*		42,054		555,954
Fortune Brands Home & Security, Inc.		9,804		444,121
Gibraltar Industries, Inc.*		2,580		91,977
Griffon Corp.		15,222		242,182
Insteel Industries, Inc.		774		17,098
Johnson Controls International plc		44,376		1,498,578
Lennox International, Inc.		2,838		650,697
Masco Corp.		15,480		501,707
Masonite International Corp.*		8,772		501,758
NCI Building Systems, Inc.*		20,382		166,317
Owens Corning		3,612		189,233
Patrick Industries, Inc.*(a)		11,610		463,239
Quanex Building Products Corp.		12,642		197,847
Simpson Manufacturing Co., Inc.		2,064		126,688
Trex Co., Inc.*		6,192		431,954
Universal Forest Products, Inc.		18,834		580,464
USG Corp.		14,190		612,298

				8,632,806

Capital Markets - 2.6%
Affiliated Managers Group, Inc.		7,224		758,159
Ameriprise Financial, Inc.		10,062		1,273,849
Arlington Asset Investment Corp., Class A(a)		18,576		160,125
Artisan Partners Asset Management, Inc., Class A(a)		19,866		463,275
Bank of New York Mellon Corp. (The)		47,988		2,510,732
BGC Partners, Inc., Class A(a)		110,424		683,525
BlackRock, Inc.		5,418		2,248,903
Blucora, Inc.*		17,286		510,110
BrightSphere Investment Group plc		31,476		389,358
Charles Schwab Corp. (The)		51,342		2,401,265
CME Group, Inc.		12,642		2,304,384
Cohen & Steers, Inc.(a)		1,032		38,834
Cowen, Inc.*(a)		14,706		237,796
E*TRADE Financial Corp.		17,028		794,526
Eaton Vance Corp.		13,674		526,722
Evercore, Inc., Class A		1,806		161,547
FactSet Research Systems, Inc.(a)		774		169,220
Federated Investors, Inc., Class B(a)		8,256		215,729
Franklin Resources, Inc.(a)		19,350		572,954


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Capital Markets - (continued)
Goldman Sachs Group, Inc. (The)		12,642		2,503,242
Greenhill & Co., Inc.		4,644		116,379
Houlihan Lokey, Inc.		2,580		114,139
Intercontinental Exchange, Inc.		19,866		1,524,951
INTL. FCStone, Inc.*		7,998		305,764
Invesco Ltd.		37,152		676,909
Investment Technology Group, Inc.		7,224		218,598
Janus Henderson Group plc(a)		6,450		140,804
Legg Mason, Inc.		2,838		84,572
LPL Financial Holdings, Inc.		11,352		798,840
MarketAxess Holdings, Inc.(a)		2,322		498,696
Moelis & Co., Class A		3,354		146,737
Moody’s Corp.		6,966		1,104,181
Morgan Stanley		63,468		2,684,696
Morningstar, Inc.		258		32,031
MSCI, Inc.		2,580		439,297
Nasdaq, Inc.		2,322		204,429
Northern Trust Corp.(b)		6,450		570,567
Piper Jaffray Cos.		6,192		427,434
Raymond James Financial, Inc.		7,998		643,839
S&P Global, Inc.		9,804		1,878,937
SEI Investments Co.		9,030		429,286
State Street Corp.		21,414		1,518,253
Stifel Financial Corp.		15,222		728,678
T. Rowe Price Group, Inc.		8,514		795,718
TD Ameritrade Holding Corp.		10,836		606,274
Virtu Financial, Inc., Class A		23,478		599,863
Virtus Investment Partners, Inc.		3,612		324,972
Waddell & Reed Financial, Inc., Class A(a)		15,738		269,435
WisdomTree Investments, Inc.		15,738		105,445

				36,913,979

Chemicals - 2.0%
AdvanSix, Inc.*		12,642		399,993
Air Products & Chemicals, Inc.		6,708		1,102,728
Albemarle Corp.(a)		4,128		333,253
American Vanguard Corp.		258		4,520
Ashland Global Holdings, Inc.		2,580		195,822
Axalta Coating Systems Ltd.*		6,708		171,859
Balchem Corp.		2,064		171,353
Cabot Corp.		21,414		1,004,103
Celanese Corp.		4,644		444,709
CF Industries Holdings, Inc.		8,256		360,374
Chemours Co. (The)		14,706		525,740
DowDuPont, Inc.		92,880		4,997,873
Eastman Chemical Co.		6,450		519,999
Ecolab, Inc.		7,740		1,224,236
Ferro Corp.*		11,610		193,539
FMC Corp.		9,288		741,182
FutureFuel Corp.		258		4,724
Hawkins, Inc.		258		10,704
HB Fuller Co.		1,806		89,198
Huntsman Corp.		24,252		532,817
Ingevity Corp.*		2,064		194,161
Innophos Holdings, Inc.		7,740		231,426
Innospec, Inc.		3,612		253,815
International Flavors & Fragrances, Inc.		2,580		365,792


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Chemicals - (continued)
Intrepid Potash, Inc.*		19,608		60,981
Kraton Corp.*(a)		14,964		421,985
Kronos Worldwide, Inc.		10,836		142,710
Linde plc		20,898		3,406,583
LyondellBasell Industries NV, Class A		18,060		1,570,678
Minerals Technologies, Inc.		13,158		770,664
Mosaic Co. (The)		12,126		391,427
NewMarket Corp.		258		103,481
Olin Corp.		64,500		1,522,845
OMNOVA Solutions, Inc.*		14,448		128,732
Platform Specialty Products Corp.*(a)		24,252		272,593
PolyOne Corp.		6,192		200,435
PPG Industries, Inc.		9,030		952,123
PQ Group Holdings, Inc.*		10,062		151,433
Quaker Chemical Corp.		2,322		474,756
Rayonier Advanced Materials, Inc.		27,090		392,263
RPM International, Inc.		3,096		176,967
Scotts Miracle-Gro Co. (The)(a)		2,580		191,823
Sensient Technologies Corp.(a)		2,838		178,170
Sherwin-Williams Co. (The)		3,096		1,305,026
Stepan Co.		5,676		499,091
Tredegar Corp.		6,966		113,616
Trinseo SA		2,580		126,549
Tronox Ltd., Class A(a)		19,866		174,026
Valvoline, Inc.		16,770		370,785
Westlake Chemical Corp.		4,902		362,258
WR Grace & Co.		1,032		73,282

				28,609,202

Commercial Services & Supplies - 1.0%
ABM Industries, Inc.		21,672		740,966
ACCO Brands Corp.		44,118		389,562
ADT, Inc.(a)		18,576		134,119
Brady Corp., Class A		6,708		299,915
BrightView Holdings, Inc.*(a)		14,448		213,975
Brink’s Co. (The)(a)		6,966		515,832
Cimpress NV*		2,580		214,579
Cintas Corp.		2,838		532,153
Clean Harbors, Inc.*		1,548		91,657
Copart, Inc.*		6,708		339,626
Covanta Holding Corp.(a)		31,992		515,071
Deluxe Corp.		17,802		836,160
Ennis, Inc.		8,772		174,036
Healthcare Services Group, Inc.(a)		6,192		270,095
Herman Miller, Inc.		17,544		600,531
HNI Corp.		11,352		441,252
Interface, Inc.		8,514		139,715
KAR Auction Services, Inc.		7,998		415,976
Kimball International, Inc., Class B		6,708		94,784
Knoll, Inc.		10,320		208,051
Matthews International Corp., Class A		12,642		562,442
McGrath RentCorp		774		39,010
Mobile Mini, Inc.		2,838		107,248
MSA Safety, Inc.		1,806		180,925
Multi-Color Corp.(a)		6,708		312,257
Pitney Bowes, Inc.(a)		72,498		522,710


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Commercial Services & Supplies - (continued)
Quad/Graphics, Inc.		15,996		216,106
Republic Services, Inc.		9,546		732,274
Rollins, Inc.		5,417		201,729
RR Donnelley & Sons Co.(a)		26,316		134,212
SP Plus Corp.*		2,580		85,398
Steelcase, Inc., Class A		24,252		400,158
Stericycle, Inc.*		29,412		1,296,481
Team, Inc.*(a)		10,062		144,289
Tetra Tech, Inc.		8,256		455,649
UniFirst Corp.		1,548		214,290
US Ecology, Inc.		2,580		164,269
Viad Corp.		1,548		81,580
VSE Corp.		3,354		109,441
Waste Management, Inc.		12,384		1,184,777

				14,313,300

Communications Equipment - 1.2%
ADTRAN, Inc.		16,254		236,983
Arista Networks, Inc.*		1,548		332,479
ARRIS International plc*		7,482		234,860
CalAmp Corp.*		1,290		18,589
Calix, Inc.*		516		5,614
Ciena Corp.*		29,670		1,130,130
Cisco Systems, Inc.		168,474		7,967,135
CommScope Holding Co., Inc.*		10,062		210,396
EchoStar Corp., Class A*		5,160		211,457
Extreme Networks, Inc.*		8,256		62,415
F5 Networks, Inc.*		1,548		249,151
Finisar Corp.*		38,442		875,709
Harmonic, Inc.*(a)		35,604		188,345
Infinera Corp.*(a)		49,536		217,958
InterDigital, Inc.		3,096		225,420
Juniper Networks, Inc.		10,836		281,086
Lumentum Holdings, Inc.*		21,361		1,044,767
Motorola Solutions, Inc.		3,612		422,279
NETGEAR, Inc.*(a)		5,160		204,388
NetScout Systems, Inc.*(a)		26,832		695,754
Palo Alto Networks, Inc.*		2,580		554,236
Plantronics, Inc.		774		30,023
Ribbon Communications, Inc.*		14,706		82,060
Ubiquiti Networks, Inc.(a)		1,032		111,673
ViaSat, Inc.*(a)		3,354		210,262
Viavi Solutions, Inc.*		48,504		539,364

				16,342,533

Construction & Engineering - 0.3%
AECOM*(a)		6,966		213,229
Argan, Inc.(a)		1,806		76,249
Comfort Systems USA, Inc.		4,902		235,149
Dycom Industries, Inc.*		2,322		134,792
EMCOR Group, Inc.		3,870		252,440
Granite Construction, Inc.(a)		3,870		167,261
HC2 Holdings, Inc.*(a)		21,156		72,142
Jacobs Engineering Group, Inc.		4,902		317,650
KBR, Inc.		49,536		852,019
MasTec, Inc.*(a)		21,672		961,803
MYR Group, Inc.*		2,064		62,890
Primoris Services Corp.		3,612		72,059
Quanta Services, Inc.		6,966		246,179
Sterling Construction Co., Inc.*		7,740		102,478


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Construction & Engineering - (continued)
Tutor Perini Corp.*(a)		19,350		333,014
Valmont Industries, Inc.		1,806		232,974
WillScot Corp.*(a)		13,932		142,803

				4,475,131

Construction Materials - 0.1%
Eagle Materials, Inc.		5,160		366,360
Forterra, Inc.*(a)		14,706		75,442
Martin Marietta Materials, Inc.		2,064		364,667
Summit Materials, Inc., Class A*(a)		44,892		685,052
US Concrete, Inc.*(a)		1,548		55,109
Vulcan Materials Co.		5,418		550,740

				2,097,370

Consumer Finance - 0.8%
Ally Financial, Inc.		22,188		578,219
American Express Co.		25,542		2,623,163
Capital One Financial Corp.		20,640		1,663,378
Credit Acceptance Corp.*		1,806		718,824
Curo Group Holdings Corp.*(a)		4,902		61,275
Discover Financial Services		17,286		1,166,632
Encore Capital Group, Inc.*(a)		258		7,621
Enova International, Inc.*		10,836		249,770
EZCORP, Inc., Class A*(a)		11,610		108,205
FirstCash, Inc.(a)		6,192		510,407
Green Dot Corp., Class A*		3,612		267,360
Navient Corp.		3,870		44,118
Nelnet, Inc., Class A(a)		8,256		434,266
OneMain Holdings, Inc.*		35,862		1,071,915
PRA Group, Inc.*(a)		258		7,614
Regional Management Corp.*		3,870		106,348
Santander Consumer USA Holdings, Inc.		12,384		236,039
SLM Corp.*(a)		55,212		591,320
Synchrony Financial		3,870		116,255
World Acceptance Corp.*(a)		1,290		133,760

				10,696,489

Containers & Packaging - 0.4%
AptarGroup, Inc.		1,290		127,865
Avery Dennison Corp.		2,322		242,533
Ball Corp.		11,868		620,459
Bemis Co., Inc.		4,386		214,212
Berry Global Group, Inc.*		12,126		597,206
Crown Holdings, Inc.*		1,806		92,106
Graphic Packaging Holding Co.(a)		18,060		217,984
Greif, Inc., Class A		11,868		462,852
International Paper Co.		17,286		819,875
Myers Industries, Inc.(a)		516		8,390
Owens-Illinois, Inc.(a)		14,706		295,149
Packaging Corp. of America		6,708		632,699
Sealed Air Corp.		8,772		346,494
Silgan Holdings, Inc.(a)		30,702		847,989
Sonoco Products Co.(a)		2,322		133,701
Westrock Co.		1,032		42,013

				5,701,527

Distributors - 0.1%
Core-Mark Holding Co., Inc.		4,644		129,475
Genuine Parts Co.		3,612		360,550
LKQ Corp.*		28,896		757,653


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Distributors - (continued)
Pool Corp.(a)		3,354		502,798

				1,750,476

Diversified Consumer Services - 0.3%
Adtalem Global Education, Inc.*		17,544		857,902
Bright Horizons Family Solutions, Inc.*		3,870		448,107
Career Education Corp.*		19,350		249,809
Chegg, Inc.*		1,806		63,607
frontdoor, Inc.*		2,838		84,345
Graham Holdings Co., Class B		1,032		686,280
Grand Canyon Education, Inc.*		5,160		479,571
H&R Block, Inc.(a)		6,966		164,328
Houghton Mifflin Harcourt Co.*		33,798		353,865
Laureate Education, Inc., Class A*		17,802		284,832
Service Corp. International		12,384		531,521
Strategic Education, Inc.		3,870		423,378
Weight Watchers International, Inc.*		10,320		330,240

				4,957,785

Diversified Financial Services - 1.4%
AXA Equitable Holdings, Inc.		14,706		272,649
Berkshire Hathaway, Inc., Class B*		89,268		18,348,145
Cannae Holdings, Inc.*		17,802		344,291
Jefferies Financial Group, Inc.		17,544		365,090
Voya Financial, Inc.		13,674		634,884

				19,965,059

Diversified Telecommunication Services - 1.6%
AT&T, Inc.		324,306		9,748,638
ATN International, Inc.		2,064		153,933
CenturyLink, Inc.		5,418		83,004
Cogent Communications Holdings, Inc.		3,870		187,502
Frontier Communications Corp.*(a)		73,272		146,544
Iridium Communications, Inc.*		31,992		620,005
ORBCOMM, Inc.*		3,096		25,201
Verizon Communications, Inc.		207,948		11,449,617
Vonage Holdings Corp.*		34,572		314,951
Zayo Group Holdings, Inc.*		10,062		276,202

				23,005,597

Electric Utilities - 1.6%
ALLETE, Inc.		7,224		555,815
Alliant Energy Corp.		5,160		229,465
American Electric Power Co., Inc.		19,608		1,551,385
Duke Energy Corp.		35,088		3,080,025
Edison International		15,480		881,896
El Paso Electric Co.		5,160		271,003
Entergy Corp.		10,578		943,452
Evergy, Inc.		15,272		875,391
Eversource Energy		13,158		913,297
Exelon Corp.		48,504		2,316,551
FirstEnergy Corp.		24,252		950,678
Hawaiian Electric Industries, Inc.		15,996		594,891
IDACORP, Inc.		4,128		402,480
MGE Energy, Inc.		2,838		182,512
NextEra Energy, Inc.		16,254		2,909,141
OGE Energy Corp.(a)		3,096		126,781
Otter Tail Corp.		1,806		87,501
Pinnacle West Capital Corp.		2,322		204,615


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Electric Utilities - (continued)
PNM Resources, Inc.		10,320		439,529
Portland General Electric Co.		12,126		585,928
PPL Corp.		33,540		1,050,473
Southern Co. (The)		43,344		2,106,518
Xcel Energy, Inc.		26,832		1,404,923

				22,664,250

Electrical Equipment - 0.6%
Acuity Brands, Inc.(a)		1,548		187,169
AMETEK, Inc.		4,386		319,739
Atkore International Group, Inc.*		15,480		358,981
AZZ, Inc.		1,548		69,273
Eaton Corp. plc		21,414		1,632,818
Emerson Electric Co.		19,092		1,249,953
Encore Wire Corp.(a)		1,548		83,437
EnerSys		11,610		989,869
Generac Holdings, Inc.*		11,352		600,861
Hubbell, Inc.		2,322		253,864
nVent Electric plc		12,950		324,009
Regal Beloit Corp.		14,190		1,089,224
Rockwell Automation, Inc.		4,128		699,779
Sensata Technologies Holding plc*(a)		7,224		343,140
Sunrun, Inc.*(a)		22,446		298,532
Vivint Solar, Inc.*		1,032		4,531

				8,505,179

Electronic Equipment, Instruments & Components - 1.5%
Amphenol Corp., Class A		9,546		839,284
Anixter International, Inc.*		8,772		532,548
Arlo Technologies, Inc.*		10,211		73,417
Arrow Electronics, Inc.*		2,580		195,951
Avnet, Inc.		2,580		106,296
AVX Corp.		9,030		160,282
Badger Meter, Inc.(a)		3,096		163,438
Belden, Inc.(a)		1,032		55,326
Benchmark Electronics, Inc.		13,932		354,151
CDW Corp.		3,612		300,771
Cognex Corp.(a)		11,868		539,994
Coherent, Inc.*(a)		2,322		274,460
Corning, Inc.		50,826		1,690,473
CTS Corp.		7,998		226,903
Dolby Laboratories, Inc., Class A		1,032		66,698
Electro Scientific Industries, Inc.*		6,192		185,760
ePlus, Inc.*		4,128		327,020
Fabrinet*(a)		12,900		733,236
Fitbit, Inc., Class A*(a)		14,964		92,328
Flex Ltd.*		186,018		1,789,493
FLIR Systems, Inc.		4,128		201,777
II-VI, Inc.*(a)		4,644		176,286
Insight Enterprises, Inc.*		13,674		627,910
IPG Photonics Corp.*(a)		3,354		446,082
Itron, Inc.*		2,322		126,851
Jabil, Inc.		44,376		1,182,620
KEMET Corp.		19,350		342,882
Keysight Technologies, Inc.*		1,806		133,680
Knowles Corp.*(a)		1,548		24,149
Littelfuse, Inc.(a)		1,806		317,350
Mesa Laboratories, Inc.		258		58,445
Methode Electronics, Inc.(a)		12,642		325,532


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Electronic Equipment, Instruments & Components - (continued)
National Instruments Corp.		258		11,409
Novanta, Inc.*		3,870		269,662
PC Connection, Inc.		4,644		153,856
Plexus Corp.*		6,450		361,974
Rogers Corp.*		1,548		196,457
Sanmina Corp.*		20,382		636,326
ScanSource, Inc.*		4,128		158,144
SYNNEX Corp.		13,362		1,292,907
TE Connectivity Ltd.		17,544		1,420,187
Tech Data Corp.*		12,384		1,184,282
Trimble, Inc.*		8,256		310,921
TTM Technologies, Inc.*		37,410		429,467
Vishay Intertechnology, Inc.		54,954		1,071,603
Zebra Technologies Corp., Class A*		5,934		1,030,142

				21,198,730

Energy Equipment & Services - 0.9%
Apergy Corp.*		3,885		130,614
Archrock, Inc.		32,766		309,311
Baker Hughes a GE Co.		20,898		492,566
Bristow Group, Inc.*(a)		36,894		121,381
C&J Energy Services, Inc.*		25,284		406,314
Core Laboratories NV(a)		4,386		295,880
Covia Holdings Corp.*(a)		22,446		105,047
Ensco plc, Class A(a)		66,564		292,882
Exterran Corp.*		15,222		264,254
Forum Energy Technologies, Inc.*		65,532		321,762
Halliburton Co.		40,764		1,278,359
Helix Energy Solutions Group, Inc.*(a)		29,154		199,122
Helmerich & Payne, Inc.		6,192		346,690
Keane Group, Inc.*		19,092		192,447
KLX Energy Services Holdings, Inc.*		5,957		155,239
Liberty Oilfield Services, Inc., Class A(a)		13,932		211,906
Matrix Service Co.*		10,836		232,432
Newpark Resources, Inc.*		5,934		49,312
Oil States International, Inc.*(a)		27,864		479,818
Patterson-UTI Energy, Inc.(a)		83,592		1,013,971
Pioneer Energy Services Corp.*		47,472		70,259
ProPetro Holding Corp.*(a)		24,252		396,278
Rowan Cos. plc, Class A*(a)		57,018		695,049
RPC, Inc.(a)		2,580		27,838
Schlumberger Ltd.		69,402		3,068,262
SEACOR Holdings, Inc.*		2,838		117,465
SEACOR Marine Holdings, Inc.*		3,612		47,859
Select Energy Services, Inc., Class A*(a)		27,864		236,844
Solaris Oilfield Infrastructure, Inc., Class A(a)		6,708		100,888
Tidewater, Inc.*(a)		3,096		66,626
Unit Corp.*(a)		23,220		370,591
US Silica Holdings, Inc.(a)		32,766		441,686

				12,538,952

Entertainment - 1.7%
Activision Blizzard, Inc.		30,702		1,450,362
Cinemark Holdings, Inc.		24,768		1,013,507


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Entertainment - (continued)
Electronic Arts, Inc.*		12,642		1,166,098
Glu Mobile, Inc.*		41,796		407,093
IMAX Corp.*		258		5,359
Liberty Media Corp-Liberty Braves, Class C*		6,450		173,892
Lions Gate Entertainment Corp., Class A		2,580		47,395
Lions Gate Entertainment Corp., Class B		19,092		334,683
Live Nation Entertainment, Inc.*(a)		11,868		635,057
Madison Square Garden Co. (The), Class A*		258		71,698
Marcus Corp. (The)		4,902		218,482
Netflix, Inc.*		16,770		5,693,415
Pandora Media, Inc.*		17,286		144,857
Take-Two Interactive Software, Inc.*		6,966		735,261
Twenty-First Century Fox, Inc., Class A		56,448		2,783,451
Twenty-First Century Fox, Inc., Class B		14,112		692,335
Viacom, Inc., Class A(a)		8,514		291,945
Viacom, Inc., Class B		12,384		364,337
Walt Disney Co. (The)		65,016		7,250,584
World Wrestling Entertainment, Inc., Class A		4,128		339,899
Zynga, Inc., Class A*		43,086		193,025

				24,012,735

Equity Real Estate Investment Trusts (REITs) - 4.3%
Acadia Realty Trust		1,290		37,062
Agree Realty Corp.		1,290		85,179
Alexander & Baldwin, Inc.*(a)		15,996		368,548
Alexander’s, Inc.		258		85,930
Alexandria Real Estate Equities, Inc.		4,386		577,680
American Assets Trust, Inc.		3,354		144,021
American Campus Communities, Inc.		6,966		320,575
American Homes 4 Rent, Class A		9,030		199,653
American Tower Corp.		16,770		2,898,527
Apartment Investment & Management Co., Class A		5,160		255,523
Apple Hospitality REIT, Inc.		78,174		1,282,835
Ashford Hospitality Trust, Inc.		61,920		306,504
AvalonBay Communities, Inc.		5,676		1,095,014
Boston Properties, Inc.		6,966		918,606
Braemar Hotels & Resorts, Inc.		10,320		114,758
Brandywine Realty Trust		11,094		166,965
Camden Property Trust		2,322		225,118
CatchMark Timber Trust, Inc., Class A		22,962		211,021
CBL & Associates Properties, Inc.(a)		114,810		285,877
Cedar Realty Trust, Inc.		73,788		257,520
Chatham Lodging Trust(a)		1,290		26,071
Chesapeake Lodging Trust(a)		6,966		198,392
Colony Capital, Inc.		33,282		202,022
Columbia Property Trust, Inc.		14,448		318,867


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Equity Real Estate Investment Trusts (REITs) - (continued)
CoreCivic, Inc.		5,934		117,909
CorEnergy Infrastructure Trust, Inc.(a)		1,290		46,195
CoreSite Realty Corp.		2,580		254,878
Cousins Properties, Inc.		23,736		210,064
Crown Castle International Corp.		16,254		1,902,693
CubeSmart		14,964		463,136
CyrusOne, Inc.		3,354		181,787
DiamondRock Hospitality Co.		6,708		68,153
Digital Realty Trust, Inc.		7,998		866,503
Douglas Emmett, Inc.		7,482		283,044
Duke Realty Corp.		10,578		309,301
EastGroup Properties, Inc.		1,290		133,463
Empire State Realty Trust, Inc., Class A		17,028		263,253
EPR Properties		4,128		301,592
Equinix, Inc.		3,354		1,321,476
Equity Commonwealth		19,350		626,166
Equity LifeStyle Properties, Inc.		1,806		191,219
Equity Residential		12,126		879,863
Essex Property Trust, Inc.		2,322		629,726
Extra Space Storage, Inc.		5,934		585,152
Federal Realty Investment Trust		2,838		376,234
First Industrial Realty Trust, Inc.		9,030		295,462
Franklin Street Properties Corp.		33,798		250,781
Gaming and Leisure Properties, Inc.		4,644		174,150
GEO Group, Inc. (The)		10,320		232,716
Getty Realty Corp.		1,032		33,086
Global Net Lease, Inc.		6,966		135,071
Hannon Armstrong Sustainable Infrastructure Capital, Inc.(a)		1,806		40,798
HCP, Inc.		26,832		846,281
Healthcare Realty Trust, Inc.		6,708		216,601
Healthcare Trust of America, Inc., Class A		5,934		168,644
Hersha Hospitality Trust		13,416		248,598
Highwoods Properties, Inc.		10,320		457,382
Hospitality Properties Trust		17,802		474,601
Host Hotels & Resorts, Inc.		37,410		675,625
Hudson Pacific Properties, Inc.		4,386		142,413
Industrial Logistics Properties Trust		17,818		382,909
InfraREIT, Inc.		6,966		146,983
Investors Real Estate Trust		1,548		91,131
Invitation Homes, Inc.		21,156		475,798
Iron Mountain, Inc.(a)		9,030		335,916
iStar, Inc.		2,322		22,268
JBG SMITH Properties		6,450		249,293
Kilroy Realty Corp.		4,644		327,216
Kimco Realty Corp.		27,348		465,190
Kite Realty Group Trust(a)		33,798		562,061
Lamar Advertising Co., Class A		4,902		364,954
Lexington Realty Trust		16,512		158,680
Liberty Property Trust		1,806		85,135
Life Storage, Inc.		5,418		532,427
LTC Properties, Inc.		3,612		171,353
Macerich Co. (The)(a)		10,062		464,462
Mack-Cali Realty Corp.		11,094		228,536
MedEquities Realty Trust, Inc.		19,350		223,880
Medical Properties Trust, Inc.		50,310		915,642


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Equity Real Estate Investment Trusts (REITs) - (continued)
Mid-America Apartment Communities, Inc.		4,128		418,084
Monmouth Real Estate Investment Corp.		8,256		113,437
National Health Investors, Inc.		3,096		257,773
National Retail Properties, Inc.		3,612		190,389
NorthStar Realty Europe Corp.		1,806		30,323
Office Properties Income Trust		9,248		296,213
Omega Healthcare Investors, Inc.(a)		11,868		476,975
Outfront Media, Inc.		14,190		294,443
Paramount Group, Inc.		25,284		366,112
Park Hotels & Resorts, Inc.		26,316		791,322
Pebblebrook Hotel Trust(a)		24,670		790,674
Pennsylvania REIT(a)		41,796		308,037
Physicians Realty Trust		11,610		210,257
Piedmont Office Realty Trust, Inc., Class A		4,902		94,903
PotlatchDeltic Corp.		9,030		333,026
Preferred Apartment Communities, Inc., Class A(a)		19,866		315,869
Prologis, Inc.		26,832		1,855,701
PS Business Parks, Inc.		1,032		149,836
Public Storage		5,418		1,151,433
QTS Realty Trust, Inc., Class A		4,128		173,830
Rayonier, Inc.		5,160		157,070
Realty Income Corp.		13,674		939,277
Regency Centers Corp.		8,514		553,410
Retail Opportunity Investments Corp.		6,192		108,793
Retail Properties of America, Inc., Class A		21,672		273,934
Retail Value, Inc.		8,547		259,914
RLJ Lodging Trust		20,640		382,872
RPT Realty(a)		5,160		67,544
Ryman Hospitality Properties, Inc.		5,418		435,336
Sabra Health Care REIT, Inc.		23,994		492,837
Saul Centers, Inc.		1,806		95,646
SBA Communications Corp.*		5,160		941,855
Senior Housing Properties Trust		95,460		1,314,484
Seritage Growth Properties, Class A(a)		2,580		103,742
Simon Property Group, Inc.		13,416		2,443,322
SITE Centers Corp.		57,792		755,341
SL Green Realty Corp.		5,160		476,939
Spirit Realty Capital, Inc.		28,122		1,117,006
STAG Industrial, Inc.		4,128		113,809
STORE Capital Corp.		13,416		433,605
Summit Hotel Properties, Inc.		21,930		244,958
Sun Communities, Inc.		4,644		510,422
Sunstone Hotel Investors, Inc.(a)		20,898		298,841
Tanger Factory Outlet Centers, Inc.(a)		10,062		228,911
Taubman Centers, Inc.		7,998		398,300
Terreno Realty Corp.		258		10,408
Tier REIT, Inc.		4,644		109,134
UDR, Inc.		8,772		383,775
Universal Health Realty Income Trust		2,322		161,890


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Equity Real Estate Investment Trusts (REITs) - (continued)
Urban Edge Properties		21,414		437,274
Urstadt Biddle Properties, Inc., Class A		258		5,526
Ventas, Inc.		18,060		1,164,689
VEREIT, Inc.		37,668		304,357
VICI Properties, Inc.		18,576		399,941
Vornado Realty Trust		10,578		739,508
Washington REIT		6,450		163,508
Weingarten Realty Investors		47,214		1,354,570
Welltower, Inc.		19,350		1,499,432
Weyerhaeuser Co.		37,668		988,408
WP Carey, Inc.		2,580		193,216
Xenia Hotels & Resorts, Inc.		23,994		450,367

				61,322,926

Food & Staples Retailing - 1.3%
Andersons, Inc. (The)		1,806		63,300
BJ’s Wholesale Club Holdings, Inc.*(a)		21,414		563,402
Casey’s General Stores, Inc.		7,740		995,983
Costco Wholesale Corp.		15,222		3,267,098
Ingles Markets, Inc., Class A(a)		1,806		51,543
Kroger Co. (The)(a)		53,922		1,527,610
Performance Food Group Co.*		29,412		1,004,714
Rite Aid Corp.*(a)		475,494		381,964
Smart & Final Stores, Inc.*		1,290		7,779
SpartanNash Co.		2,838		58,889
Sysco Corp.		13,674		873,085
United Natural Foods, Inc.*(a)		24,768		324,461
US Foods Holding Corp.*		8,514		287,092
Walgreens Boots Alliance, Inc.		40,248		2,908,321
Walmart, Inc.		61,404		5,884,345
Weis Markets, Inc.(a)		4,902		237,845

				18,437,431

Food Products - 1.0%
Archer-Daniels-Midland Co.		13,158		590,794
B&G Foods, Inc.(a)		8,256		220,105
Bunge Ltd.		6,966		383,618
Calavo Growers, Inc.(a)		1,548		125,945
Cal-Maine Foods, Inc.		9,804		413,533
Campbell Soup Co.		2,322		82,269
Conagra Brands, Inc.		10,320		223,325
Darling Ingredients, Inc.*		37,926		806,686
Flowers Foods, Inc.(a)		9,546		187,674
Fresh Del Monte Produce, Inc.		8,256		264,027
Freshpet, Inc.*		1,032		37,121
General Mills, Inc.		11,610		515,948
Hain Celestial Group, Inc. (The)*		13,158		241,186
Hershey Co. (The)		4,644		492,728
Hormel Foods Corp.(a)		7,482		316,638
Hostess Brands, Inc.*		37,410		429,841
Ingredion, Inc.		1,290		127,710
J&J Snack Foods Corp.		1,806		278,756
JM Smucker Co. (The)		6,450		676,476
Kellogg Co.		12,642		746,005
Kraft Heinz Co. (The)		15,222		731,569
Lamb Weston Holdings, Inc.		3,870		279,801
Lancaster Colony Corp.		1,548		246,240


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food Products - (continued)
McCormick & Co., Inc. (Non-Voting)(a)		3,354		414,689
Mondelez International, Inc., Class A		55,986		2,589,912
Pilgrim’s Pride Corp.*		4,128		83,633
Post Holdings, Inc.*(a)		5,418		502,899
Sanderson Farms, Inc.(a)		5,160		635,196
Seaboard Corp.		24		92,740
Tootsie Roll Industries, Inc.(a)		2,381		82,502
TreeHouse Foods, Inc.*(a)		19,350		1,129,266
Tyson Foods, Inc., Class A		8,514		527,187

				14,476,019

Gas Utilities - 0.2%
Atmos Energy Corp.		1,806		176,320
Chesapeake Utilities Corp.		3,612		327,139
National Fuel Gas Co.		1,290		73,917
New Jersey Resources Corp.		9,804		475,494
Northwest Natural Holding Co.		258		16,151
ONE Gas, Inc.		4,902		402,699
South Jersey Industries, Inc.		7,224		215,131
Southwest Gas Holdings, Inc.(a)		3,870		303,098
Spire, Inc.		12,126		962,441
UGI Corp.		4,644		264,847

				3,217,237

Health Care Equipment & Supplies - 2.6%
Abbott Laboratories		69,144		5,046,129
ABIOMED, Inc.*		3,354		1,177,489
Align Technology, Inc.*		4,386		1,091,895
AngioDynamics, Inc.*		1,806		38,107
Anika Therapeutics, Inc.*(a)		1,290		49,007
AtriCure, Inc.*(a)		1,290		39,925
Avanos Medical, Inc.*(a)		10,320		470,076
AxoGen, Inc.*(a)		2,838		46,827
Baxter International, Inc.		20,124		1,458,789
Becton Dickinson and Co.		10,062		2,510,067
Boston Scientific Corp.*		43,602		1,663,416
Cantel Medical Corp.		2,580		210,064
Cardiovascular Systems, Inc.*		1,032		32,126
Cerus Corp.*		3,354		19,990
CONMED Corp.(a)		6,192		435,607
Cooper Cos., Inc. (The)		1,290		359,600
Danaher Corp.		22,188		2,461,093
DENTSPLY SIRONA, Inc.		11,610		487,040
DexCom, Inc.*		4,644		654,943
Edwards Lifesciences Corp.*		6,708		1,143,177
Glaukos Corp.*(a)		774		49,373
Globus Medical, Inc., Class A*		6,708		302,195
Hill-Rom Holdings, Inc.		5,160		516,103
Hologic, Inc.*		7,482		332,201
ICU Medical, Inc.*		1,290		320,952
IDEXX Laboratories, Inc.*		2,580		548,972
Inogen, Inc.*		1,032		156,049
Insulet Corp.*(a)		2,580		209,470
Integer Holdings Corp.*		10,320		835,817
Integra LifeSciences Holdings Corp.*		5,418		256,596
Intuitive Surgical, Inc.*		3,870		2,026,487
Invacare Corp.(a)		8,256		42,436


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Health Care Equipment & Supplies - (continued)
iRhythm Technologies, Inc.*(a)		774		65,790
Lantheus Holdings, Inc.*		6,450		108,489
LivaNova plc*		1,548		142,911
Masimo Corp.*		5,676		706,038
Medtronic plc		50,052		4,424,096
Merit Medical Systems, Inc.*		5,418		306,280
Natus Medical, Inc.*		3,354		113,164
Neogen Corp.*(a)		4,458		271,537
Nevro Corp.*		2,580		125,285
Novocure Ltd.*		3,354		164,346
NuVasive, Inc.*(a)		3,354		168,170
NxStage Medical, Inc.*		3,870		112,501
OraSure Technologies, Inc.*		1,032		13,261
Orthofix Medical, Inc.*		5,676		307,128
Penumbra, Inc.*(a)		1,290		187,708
Quidel Corp.*(a)		1,290		74,859
ResMed, Inc.		3,354		319,200
Stryker Corp.		11,868		2,107,401
Surmodics, Inc.*		516		29,551
Tandem Diabetes Care, Inc.*		2,580		112,178
Teleflex, Inc.		2,838		776,193
Varex Imaging Corp.*		3,096		88,205
Varian Medical Systems, Inc.*		1,806		238,446
ViewRay, Inc.*(a)		6,708		48,231
West Pharmaceutical Services, Inc.		5,676		614,541
Wright Medical Group NV*(a)		2,838		84,686
Zimmer Biomet Holdings, Inc.		3,354		367,464

				37,069,677

Health Care Providers & Services - 2.8%
Acadia Healthcare Co., Inc.*		6,192		169,413
Amedisys, Inc.*		5,676		744,464
AmerisourceBergen Corp.		3,354		279,623
AMN Healthcare Services, Inc.*		15,480		1,002,949
Anthem, Inc.		12,384		3,752,352
Apollo Medical Holdings, Inc.*		2,838		55,426
BioScrip, Inc.*		28,638		103,956
BioTelemetry, Inc.*(a)		258		18,530
Brookdale Senior Living, Inc.*(a)		74,304		605,578
Capital Senior Living Corp.*(a)		258		1,798
Cardinal Health, Inc.		16,512		825,105
Centene Corp.*		9,546		1,246,421
Chemed Corp.		2,064		614,948
Cigna Corp.		15,354		3,067,883
Community Health Systems, Inc.*(a)		42,312		166,709
CorVel Corp.*		774		48,352
Cross Country Healthcare, Inc.*		4,902		47,206
CVS Health Corp.		39,990		2,621,344
DaVita, Inc.*		9,288		521,335
Encompass Health Corp.		11,868		793,257
Ensign Group, Inc. (The)		15,480		674,464
HCA Healthcare, Inc.		13,674		1,906,566
HealthEquity, Inc.*(a)		1,032		64,335
Henry Schein, Inc.*		3,354		260,606
Humana, Inc.		4,128		1,275,511
Laboratory Corp. of America Holdings*		2,322		323,571
LHC Group, Inc.*(a)		4,953		523,681


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Health Care Providers & Services - (continued)
Magellan Health, Inc.*		2,838		184,924
McKesson Corp.		10,578		1,356,628
MEDNAX, Inc.*		34,830		1,257,711
Molina Healthcare, Inc.*		7,740		1,029,265
Owens & Minor, Inc.(a)		31,734		240,226
Premier, Inc., Class A*		516		20,532
Providence Service Corp. (The)*		2,838		182,029
Quest Diagnostics, Inc.		3,612		315,508
R1 RCM, Inc.*		12,384		100,558
Select Medical Holdings Corp.*(a)		37,926		592,404
Surgery Partners, Inc.*(a)		10,320		134,986
Tenet Healthcare Corp.*		31,476		692,157
Tivity Health, Inc.*		3,096		68,917
UnitedHealth Group, Inc.		34,314		9,271,643
Universal Health Services, Inc., Class B		6,708		889,011
US Physical Therapy, Inc.(a)		1,548		163,918
WellCare Health Plans, Inc.*		3,612		998,646

				39,214,446

Health Care Technology - 0.2%
athenahealth, Inc.*		1,290		173,815
Cerner Corp.*		14,448		793,340
Computer Programs & Systems, Inc.(a)		258		6,770
HealthStream, Inc.		516		12,982
HMS Holdings Corp.*		1,548		46,424
Inovalon Holdings, Inc., Class A*		3,612		51,615
Medidata Solutions, Inc.*(a)		3,354		238,000
Omnicell, Inc.*		4,128		268,857
Teladoc Health, Inc.*(a)		4,386		281,581
Veeva Systems, Inc., Class A*		2,580		281,375
Vocera Communications, Inc.*		4,902		200,100

				2,354,859

Hotels, Restaurants & Leisure - 2.1%
Aramark		13,674		450,558
Belmond Ltd., Class A*		2,580		64,294
BJ’s Restaurants, Inc.(a)		2,322		115,705
Bloomin’ Brands, Inc.		33,798		622,897
Boyd Gaming Corp.		16,770		458,156
Brinker International, Inc.(a)		13,158		533,162
Caesars Entertainment Corp.*(a)		39,216		358,434
Carnival Corp.		21,414		1,233,018
Cheesecake Factory, Inc. (The)(a)		2,580		115,790
Chipotle Mexican Grill, Inc.*		774		409,918
Choice Hotels International, Inc.(a)		2,322		183,810
Churchill Downs, Inc.(a)		3,870		355,963
Cracker Barrel Old Country Store, Inc.(a)		2,064		345,266
Darden Restaurants, Inc.		4,644		487,295
Dave & Buster’s Entertainment, Inc.		1,290		66,370
Del Taco Restaurants, Inc.*		6,450		67,016
Denny’s Corp.*		14,706		260,149
Dine Brands Global, Inc.		5,418		413,231
Domino’s Pizza, Inc.(a)		3,354		951,630
Drive Shack, Inc.*		15,222		64,085
Dunkin’ Brands Group, Inc.		2,322		158,802
Eldorado Resorts, Inc.*(a)		3,354		156,363
Extended Stay America, Inc.		10,320		176,472


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Hotels, Restaurants & Leisure - (continued)
Hilton Grand Vacations, Inc.*		34,314		1,041,087
Hilton Worldwide Holdings, Inc.		10,578		787,849
Hyatt Hotels Corp., Class A		3,096		216,441
International Speedway Corp., Class A		2,064		89,681
Jack in the Box, Inc.		2,580		208,851
Las Vegas Sands Corp.		19,092		1,114,209
Marriott International, Inc., Class A		8,772		1,004,657
Marriott Vacations Worldwide Corp.		3,354		296,963
McDonald’s Corp.		28,896		5,166,027
MGM Resorts International		24,768		729,170
Norwegian Cruise Line Holdings Ltd.*		10,578		544,027
OBH, Inc.*		516		67,555
Papa John’s International, Inc.(a)		2,580		109,108
Penn National Gaming, Inc.*		39,732		963,104
Planet Fitness, Inc., Class A*		4,128		239,094
Red Robin Gourmet Burgers, Inc.*		774		24,753
Royal Caribbean Cruises Ltd.		6,966		836,268
Ruth’s Hospitality Group, Inc.		3,612		83,437
Scientific Games Corp.*(a)		10,062		252,154
SeaWorld Entertainment, Inc.*		22,188		577,997
Six Flags Entertainment Corp.(a)		2,838		174,792
Starbucks Corp.		45,408		3,094,101
Texas Roadhouse, Inc.(a)		4,902		298,238
Vail Resorts, Inc.		2,838		534,282
Wendy’s Co. (The)(a)		23,736		411,108
Wyndham Destinations, Inc.		34,830		1,467,736
Wyndham Hotels & Resorts, Inc.		1,036		50,857
Wynn Resorts Ltd.		5,418		666,468
Yum! Brands, Inc.		11,610		1,091,108

				30,189,506

Household Durables - 0.8%
Beazer Homes USA, Inc.*(a)		10,836		135,775
Cavco Industries, Inc.*		774		128,708
Century Communities, Inc.*(a)		17,802		417,635
DR Horton, Inc.		18,576		714,247
Ethan Allen Interiors, Inc.		9,288		176,286
Garmin Ltd.		1,032		71,394
GoPro, Inc., Class A*(a)		14,448		71,229
Green Brick Partners, Inc.*		10,836		91,673
Hamilton Beach Brands Holding Co.*		56		1,464
Helen of Troy Ltd.*		6,708		778,396
Installed Building Products, Inc.*		3,096		130,373
iRobot Corp.*(a)		1,806		162,161
KB Home		45,924		983,233
La-Z-Boy, Inc.		3,612		106,987
Leggett & Platt, Inc.		8,514		348,733
Lennar Corp., Class A		10,578		501,609
Lennar Corp., Class B		439		16,735
LGI Homes, Inc.*(a)		7,224		428,383
M/I Homes, Inc.*		14,448		382,728
MDC Holdings, Inc.		10,268		338,125
Meritage Homes Corp.*(a)		15,222		686,208
Mohawk Industries, Inc.*		4,128		531,645
Newell Brands, Inc.(a)		24,768		525,329


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Household Durables - (continued)
NVR, Inc.*		201		534,660
PulteGroup, Inc.		19,608		545,298
Roku, Inc.*(a)		4,902		220,345
Skyline Champion Corp.		2,580		46,595
Taylor Morrison Home Corp., Class A*		45,666		863,087
Tempur Sealy International, Inc.*		3,096		164,150
Toll Brothers, Inc.		5,934		219,202
TopBuild Corp.*		12,900		681,249
TRI Pointe Group, Inc.*(a)		6,450		86,753
Tupperware Brands Corp.		2,064		56,285
Universal Electronics, Inc.*		6,708		188,964
Whirlpool Corp.		3,870		514,749
ZAGG, Inc.*		13,932		156,317

				12,006,710

Household Products - 1.1%
Central Garden & Pet Co., Class A*		17,286		615,727
Church & Dwight Co., Inc.		7,740		500,081
Clorox Co. (The)		3,870		574,231
Colgate-Palmolive Co.		36,636		2,369,617
Kimberly-Clark Corp.		13,416		1,494,274
Procter & Gamble Co. (The)		96,492		9,308,583
Spectrum Brands Holdings, Inc.		1,290		72,085
WD-40 Co.(a)		1,806		328,241

				15,262,839

Independent Power and Renewable Electricity Producers - 0.3%
AES Corp.		23,220		380,576
Clearway Energy, Inc., Class A		4,128		60,682
Clearway Energy, Inc., Class C		31,476		474,973
NRG Energy, Inc.		25,542		1,044,923
Ormat Technologies, Inc.(a)		2,838		163,781
Pattern Energy Group, Inc., Class A		30,186		642,358
Vistra Energy Corp.*		46,440		1,166,108

				3,933,401

Industrial Conglomerates - 0.9%
3M Co.		23,220		4,650,966
Carlisle Cos., Inc.		1,806		194,560
General Electric Co.		329,724		3,349,996
Honeywell International, Inc.		27,606		3,965,050
Roper Technologies, Inc.		3,354		950,054

				13,110,626

Insurance - 2.7%
Aflac, Inc.		29,154		1,390,646
Alleghany Corp.		516		325,885
Allstate Corp. (The)		15,480		1,360,228
Ambac Financial Group, Inc.*		21,930		414,916
American Equity Investment Life Holding Co.		32,766		1,026,231
American Financial Group, Inc.		1,290		123,053
American International Group, Inc.		25,800		1,115,334
American National Insurance Co.		2,838		395,021
AMERISAFE, Inc.		1,806		107,294
Aon plc		7,998		1,249,528
Arch Capital Group Ltd.*		19,092		560,350
Argo Group International Holdings Ltd.		9,463		631,561
Arthur J Gallagher & Co.		9,288		693,906
Aspen Insurance Holdings Ltd.		15,480		645,980


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Insurance - (continued)
Assurant, Inc.		2,322		223,818
Assured Guaranty Ltd.		18,318		742,978
Axis Capital Holdings Ltd.		3,354		179,607
Brown & Brown, Inc.		8,256		224,233
Chubb Ltd.		18,318		2,437,210
Cincinnati Financial Corp.(a)		5,676		460,437
CNO Financial Group, Inc.		13,674		244,491
Employers Holdings, Inc.		9,546		404,464
Enstar Group Ltd.*		2,322		413,316
Erie Indemnity Co., Class A		258		37,766
Everest Re Group Ltd.		1,548		339,089
FBL Financial Group, Inc., Class A		2,580		181,168
Fidelity National Financial, Inc.		15,480		559,757
First American Financial Corp.		8,256		413,461
Genworth Financial, Inc., Class A*		37,152		179,816
Hanover Insurance Group, Inc. (The)		4,902		559,024
Hartford Financial Services Group, Inc. (The)		21,672		1,016,850
HCI Group, Inc.(a)		1,290		61,120
Heritage Insurance Holdings, Inc.		7,482		108,639
Horace Mann Educators Corp.		11,352		472,811
James River Group Holdings Ltd.		5,934		228,874
Kemper Corp.		6,708		504,307
Lincoln National Corp.		12,900		754,521
Loews Corp.		14,706		704,417
Markel Corp.*		516		543,611
Marsh & McLennan Cos., Inc.		18,834		1,660,970
MBIA, Inc.*(a)		27,348		262,814
Mercury General Corp.(a)		7,998		413,497
MetLife, Inc.		30,444		1,390,377
National General Holdings Corp.		15,996		386,303
National Western Life Group, Inc., Class A		774		234,754
Navigators Group, Inc. (The)		7,224		504,235
Old Republic International Corp.		19,350		389,903
Primerica, Inc.		5,934		666,804
Principal Financial Group, Inc.		19,350		968,855
Progressive Corp. (The)		21,930		1,475,670
Prudential Financial, Inc.		14,448		1,331,239
Reinsurance Group of America, Inc.		5,934		857,166
RenaissanceRe Holdings Ltd.		2,322		320,506
RLI Corp.(a)		3,354		221,398
Safety Insurance Group, Inc.		2,580		212,360
Selective Insurance Group, Inc.(a)		9,546		581,542
Stewart Information Services Corp.		3,612		160,553
Torchmark Corp.		4,386		367,371
Travelers Cos., Inc. (The)		12,900		1,619,466
Trupanion, Inc.*(a)		2,064		54,799
United Fire Group, Inc.		6,192		321,984
Universal Insurance Holdings, Inc.(a)		8,256		311,416
Unum Group		21,930		762,287
White Mountains Insurance Group Ltd.		258		230,544
Willis Towers Watson plc		4,386		713,997


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Insurance - (continued)
WR Berkley Corp.		3,096		238,051

				38,694,579

Interactive Media & Services - 3.2%
Alphabet, Inc., Class A*		11,352		12,781,103
Alphabet, Inc., Class C*		12,126		13,537,103
Care.com, Inc.*		2,322		55,194
Cargurus, Inc.*		1,290		55,173
Cars.com, Inc.*(a)		23,220		634,138
Facebook, Inc., Class A*		92,622		15,439,161
IAC/InterActiveCorp*		2,322		490,592
Liberty TripAdvisor Holdings, Inc., Class A*		25,284		421,231
Match Group, Inc.(a)		2,838		151,805
Snap, Inc., Class A*(a)		51,342		342,965
TripAdvisor, Inc.*		8,772		503,337
Twitter, Inc.*(a)		26,058		874,506
Yelp, Inc.*(a)		4,644		169,135
Zillow Group, Inc., Class A*(a)		5,160		179,620
Zillow Group, Inc., Class C*(a)		3,354		117,692

				45,752,755

Internet & Direct Marketing Retail - 2.5%
Amazon.com, Inc.*		15,738		27,049,373
Booking Holdings, Inc.*		1,806		3,310,055
eBay, Inc.*		45,666		1,536,661
Etsy, Inc.*		3,612		197,396
Expedia Group, Inc.		3,096		369,198
GrubHub, Inc.*(a)		3,612		290,405
Lands’ End, Inc.*		2,838		50,800
Liberty Expedia Holdings, Inc., Class A*		17,544		719,129
MercadoLibre, Inc.*		1,806		657,384
Nutrisystem, Inc.		4,644		201,596
Overstock.com, Inc.*(a)		4,128		71,621
PetMed Express, Inc.(a)		1,032		24,438
Quotient Technology, Inc.*		2,838		28,380
Qurate Retail, Inc.*		7,376		160,428
Shutterfly, Inc.*		2,064		94,861
Stamps.com, Inc.*(a)		1,290		240,043
Wayfair, Inc., Class A*		2,064		225,925

				35,227,693

IT Services - 3.8%
Accenture plc, Class A		24,252		3,723,895
Akamai Technologies, Inc.*		5,160		335,916
Alliance Data Systems Corp.		258		45,818
Automatic Data Processing, Inc.		13,416		1,876,093
Black Knight, Inc.*		2,670		131,337
Booz Allen Hamilton Holding Corp.		11,094		545,048
Broadridge Financial Solutions, Inc.		2,838		286,156
CACI International, Inc., Class A*		5,934		992,046
Cardtronics plc, Class A*(a)		16,770		453,964
Cass Information Systems, Inc.		666		32,694
Cognizant Technology Solutions Corp., Class A		22,704		1,582,015
Conduent, Inc.*		3,354		42,764
CoreLogic, Inc.*		5,418		196,673
CSG Systems International, Inc.		4,902		177,403


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
IT Services - (continued)
DXC Technology Co.		14,964		959,492
EPAM Systems, Inc.*		2,064		292,015
Euronet Worldwide, Inc.*		4,386		504,434
EVERTEC, Inc.		16,254		449,748
Exela Technologies, Inc.*(a)		12,126		47,776
ExlService Holdings, Inc.*		1,548		89,010
Fidelity National Information Services, Inc.		7,998		836,031
First Data Corp., Class A*		31,992		788,603
Fiserv, Inc.*		14,964		1,240,965
FleetCor Technologies, Inc.*		2,580		520,670
Gartner, Inc.*		2,838		385,656
Genpact Ltd.		6,708		200,100
Global Payments, Inc.		4,386		492,460
GoDaddy, Inc., Class A*		4,902		336,424
GreenSky, Inc., Class A*		5,934		65,274
GTT Communications, Inc.*(a)		4,128		105,677
International Business Machines Corp.		44,634		5,999,702
Jack Henry & Associates, Inc.		2,064		275,647
Leidos Holdings, Inc.		5,160		299,280
Limelight Networks, Inc.*		19,866		61,982
LiveRamp Holdings, Inc.*		3,096		134,490
ManTech International Corp., Class A		5,676		319,956
Mastercard, Inc., Class A		34,572		7,299,186
MAXIMUS, Inc.		4,644		325,684
MoneyGram International, Inc.*(a)		16,770		35,720
NIC, Inc.		2,838		46,543
Okta, Inc.*		1,290		106,335
Paychex, Inc.		8,514		602,791
PayPal Holdings, Inc.*		44,892		3,984,614
Perficient, Inc.*		15,480		394,895
Perspecta, Inc.		45,325		908,766
Presidio, Inc.		13,158		209,607
Sabre Corp.		6,192		142,292
Science Applications International Corp.		3,096		207,865
Square, Inc., Class A*(a)		10,578		754,740
Switch, Inc., Class A(a)		10,578		88,221
Sykes Enterprises, Inc.*		8,514		234,731
Total System Services, Inc.		5,160		462,388
Travelport Worldwide Ltd.		46,956		735,331
TTEC Holdings, Inc.		5,418		181,124
Twilio, Inc., Class A*		2,580		287,206
Unisys Corp.*(a)		9,288		121,487
VeriSign, Inc.*		3,612		611,403
Virtusa Corp.*		9,288		450,654
Visa, Inc., Class A(a)		67,596		9,126,136
Western Union Co. (The)(a)		14,190		258,967
WEX, Inc.*		2,064		332,985
Worldpay, Inc., Class A*		9,804		818,438

				53,555,323

Leisure Products - 0.1%
Acushnet Holdings Corp.		6,966		160,148
American Outdoor Brands Corp.*		17,286		208,642
Brunswick Corp.		4,386		220,704
Callaway Golf Co.		6,966		113,476


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Leisure Products - (continued)
Hasbro, Inc.(a)		2,580		233,645
Polaris Industries, Inc.		258		21,641
Sturm Ruger & Co., Inc.		5,676		309,228
Vista Outdoor, Inc.*(a)		29,412		293,532

				1,561,016

Life Sciences Tools & Services - 0.7%
Accelerate Diagnostics, Inc.*(a)		7,740		140,945
Agilent Technologies, Inc.		11,868		902,561
Bio-Rad Laboratories, Inc., Class A*		258		64,467
Bio-Techne Corp.		2,838		495,118
Bruker Corp.		6,192		217,092
Cambrex Corp.*		3,354		146,402
Charles River Laboratories International, Inc.*		3,870		476,745
Illumina, Inc.*		5,418		1,515,902
IQVIA Holdings, Inc.*		5,418		698,976
Medpace Holdings, Inc.*		774		49,846
Mettler-Toledo International, Inc.*		1,032		658,581
NeoGenomics, Inc.*(a)		5,418		90,047
PerkinElmer, Inc.		3,612		326,886
PRA Health Sciences, Inc.*		1,806		191,382
Syneos Health, Inc.*(a)		6,192		316,040
Thermo Fisher Scientific, Inc.		14,706		3,612,823
Waters Corp.*		2,838		656,202

				10,560,015

Machinery - 2.4%
Actuant Corp., Class A		1,290		29,528
AGCO Corp.		3,096		198,763
Alamo Group, Inc.		1,032		88,886
Albany International Corp., Class A		4,644		318,857
Allison Transmission Holdings, Inc.		5,160		251,137
Altra Industrial Motion Corp.		5,934		181,640
Barnes Group, Inc.		8,256		487,764
Blue Bird Corp.*		3,354		66,644
Briggs & Stratton Corp.(a)		15,996		206,028
Caterpillar, Inc.		28,638		3,813,436
Chart Industries, Inc.*		9,030		674,541
CIRCOR International, Inc.*(a)		9,288		256,813
Colfax Corp.*		36,120		893,970
Columbus McKinnon Corp.(a)		1,032		37,358
Crane Co.		6,450		533,802
Cummins, Inc.		7,224		1,062,723
Deere & Co.		11,868		1,946,352
Douglas Dynamics, Inc.		2,580		91,332
Dover Corp.		5,418		475,863
EnPro Industries, Inc.		3,612		238,573
ESCO Technologies, Inc.(a)		774		50,395
Federal Signal Corp.		5,934		130,429
Flowserve Corp.(a)		2,064		90,899
Fortive Corp.		10,578		793,244
Franklin Electric Co., Inc.		1,806		86,291
Gardner Denver Holdings, Inc.*		10,062		248,230
Gates Industrial Corp. plc*		3,870		57,702
Global Brass & Copper Holdings, Inc.		4,902		148,236
Gorman-Rupp Co. (The)		1,290		44,570


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Machinery - (continued)
Graco, Inc.		3,096		134,150
Greenbrier Cos., Inc. (The)		10,836		459,555
Hillenbrand, Inc.		12,384		525,082
IDEX Corp.		1,548		213,407
Illinois Tool Works, Inc.		11,868		1,629,595
Ingersoll-Rand plc		6,450		645,258
ITT, Inc.		5,934		311,891
John Bean Technologies Corp.(a)		3,096		245,946
Kadant, Inc.		3,096		264,089
Kennametal, Inc.(a)		28,638		1,076,216
Lincoln Electric Holdings, Inc.		1,806		156,111
Lindsay Corp.		258		22,157
Lydall, Inc.*		10,320		273,686
Manitowoc Co., Inc. (The)*(a)		8,514		129,583
Meritor, Inc.*		29,670		613,576
Middleby Corp. (The)*(a)		2,580		303,460
Milacron Holdings Corp.*		4,386		60,790
Mueller Industries, Inc.		1,032		26,739
Mueller Water Products, Inc., Class A		10,320		101,962
Navistar International Corp.*		21,930		720,181
NN, Inc.(a)		20,898		190,799
Nordson Corp.		1,290		167,236
Oshkosh Corp.		24,768		1,858,838
PACCAR, Inc.		13,158		862,112
Parker-Hannifin Corp.		4,644		765,378
Park-Ohio Holdings Corp.		2,580		83,798
Proto Labs, Inc.*		516		64,061
RBC Bearings, Inc.*(a)		2,064		287,763
REV Group, Inc.(a)		19,866		165,086
Rexnord Corp.*		34,314		897,311
Snap-on, Inc.		1,806		299,778
SPX Corp.*		20,382		606,365
SPX FLOW, Inc.*		11,094		363,550
Standex International Corp.		1,548		115,450
Stanley Black & Decker, Inc.		7,482		946,024
Sun Hydraulics Corp.		1,032		36,553
Tennant Co.(a)		1,290		75,762
Terex Corp.(a)		23,994		736,856
Timken Co. (The)		21,672		923,010
Toro Co. (The)		6,966		414,477
TriMas Corp.*		11,610		336,574
Trinity Industries, Inc.(a)		48,762		1,140,056
Wabash National Corp.		13,416		187,019
WABCO Holdings, Inc.*(a)		1,290		147,357
Wabtec Corp.		2,838		196,276
Watts Water Technologies, Inc., Class A		2,580		193,165
Welbilt, Inc.*		10,320		144,686
Woodward, Inc.		4,386		398,468
Xylem, Inc.		3,870		275,776

				34,297,024

Marine - 0.1%
Eagle Bulk Shipping, Inc.*		24,252		99,676
Genco Shipping & Trading Ltd.*(a)		16,512		121,693
Kirby Corp.*(a)		3,870		289,902
Matson, Inc.		11,610		389,051

				900,322


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Media - 1.7%
Altice USA, Inc., Class A(a)		10,578		207,752
AMC Networks, Inc., Class A*(a)		23,994		1,510,182
CBS Corp. (Non-Voting), Class B		8,772		433,863
Charter Communications, Inc., Class A*		6,966		2,306,094
Comcast Corp., Class A		197,628		7,227,256
comScore, Inc.*		3,870		76,200
Discovery, Inc., Class A*		258		7,322
Discovery, Inc., Class C*		21,670		577,505
DISH Network Corp., Class A*		15,996		490,597
Emerald Expositions Events, Inc.(a)		8,256		117,235
EW Scripps Co. (The), Class A(a)		4,644		87,214
Gannett Co., Inc.		31,218		346,208
GCI Liberty, Inc., Class A*(a)		10,062		512,156
Gray Television, Inc.*		22,446		375,073
Interpublic Group of Cos., Inc. (The)		14,706		334,562
John Wiley & Sons, Inc., Class A		4,128		213,748
Liberty Broadband Corp., Class A*		5,934		503,025
Liberty Broadband Corp., Class C*(a)		2,838		241,287
Liberty Latin America Ltd., Class A*		70,692		1,232,515
Liberty Media Corp-Liberty SiriusXM, Class A*		6,450		256,581
Liberty Media Corp-Liberty SiriusXM, Class C*		6,192		247,432
Meredith Corp.(a)		5,418		294,035
MSG Networks, Inc., Class A*(a)		21,414		479,674
National CineMedia, Inc.		11,094		76,660
New York Times Co. (The), Class A(a)		15,222		391,358
News Corp., Class A		29,412		377,356
News Corp., Class B		1,548		20,016
Nexstar Media Group, Inc., Class A(a)		16,254		1,356,721
Omnicom Group, Inc.		9,546		743,442
Scholastic Corp.		3,870		161,340
Sinclair Broadcast Group, Inc., Class A		5,160		158,980
Sirius XM Holdings, Inc.(a)		67,596		394,085
TEGNA, Inc.		81,270		954,110
Tribune Media Co., Class A		24,768		1,137,099
WideOpenWest, Inc.*		9,288		70,217

				23,918,900

Metals & Mining - 0.7%
AK Steel Holding Corp.*(a)		121,776		359,239
Allegheny Technologies, Inc.*(a)		22,188		607,729
Carpenter Technology Corp.(a)		16,254		768,164
Century Aluminum Co.*(a)		16,254		149,537
Cleveland-Cliffs, Inc.(a)		97,524		1,044,482
Coeur Mining, Inc.*		23,478		120,912
Commercial Metals Co.		18,576		324,151
Compass Minerals International, Inc.		2,580		134,805
Freeport-McMoRan, Inc.		81,786		951,989
Haynes International, Inc.		1,290		42,312


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Metals & Mining - (continued)
Hecla Mining Co.(a)		52,116		140,713
Kaiser Aluminum Corp.		3,096		310,745
Materion Corp.		1,548		72,648
McEwen Mining, Inc.(a)		18,576		33,623
Newmont Mining Corp.		17,802		607,226
Nucor Corp.		13,416		821,596
Reliance Steel & Aluminum Co.		516		42,250
Royal Gold, Inc.(a)		2,322		202,873
Schnitzer Steel Industries, Inc., Class A		9,030		218,526
Southern Copper Corp.		5,676		190,827
Steel Dynamics, Inc.		11,868		434,250
SunCoke Energy, Inc.*		30,186		339,291
TimkenSteel Corp.*(a)		22,446		285,738
United States Steel Corp.		41,280		930,451
Worthington Industries, Inc.		12,642		476,983

				9,611,060

Mortgage Real Estate Investment Trusts (REITs) - 0.6%
AG Mortgage Investment Trust, Inc.		13,158		237,107
Annaly Capital Management, Inc.		24,768		258,578
Anworth Mortgage Asset Corp.		5,418		24,218
Apollo Commercial Real Estate Finance, Inc.(a)		20,640		375,648
ARMOUR Residential REIT, Inc.		12,900		271,158
Blackstone Mortgage Trust, Inc., Class A(a)		39,732		1,370,357
Chimera Investment Corp.		79,206		1,507,290
Colony Credit Real Estate, Inc.		3,870		64,668
Exantas Capital Corp.		7,482		79,085
Invesco Mortgage Capital, Inc.		26,574		427,841
KKR Real Estate Finance Trust, Inc.(a)		3,354		69,159
Ladder Capital Corp.		22,145		383,330
MFA Financial, Inc.		58,050		425,506
New Residential Investment Corp.(a)		37,668		639,603
New York Mortgage Trust, Inc.		42,570		267,340
PennyMac Mortgage Investment Trust		25,026		506,526
Redwood Trust, Inc.(a)		15,738		253,854
Starwood Property Trust, Inc.		1,032		22,787
Two Harbors Investment Corp.		37,410		545,812
Western Asset Mortgage Capital Corp.		21,156		202,251

				7,932,118

Multiline Retail - 0.5%
Big Lots, Inc.		14,964		471,965
Dillard’s, Inc., Class A(a)		4,644		310,173
Dollar General Corp.		10,836		1,250,799
Dollar Tree, Inc.*		16,770		1,623,839
Kohl’s Corp.		6,450		443,051
Macy’s, Inc.		9,030		237,489
Nordstrom, Inc.(a)		5,676		263,423
Target Corp.		28,380		2,071,740

				6,672,479

Multi-Utilities - 0.9%
Ameren Corp.		10,062		697,699


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Multi-Utilities - (continued)
Avista Corp.		5,676		237,541
Black Hills Corp.(a)		20,382		1,383,734
CenterPoint Energy, Inc.		20,382		630,211
CMS Energy Corp.		7,482		390,112
Consolidated Edison, Inc.		13,158		1,021,719
Dominion Energy, Inc.		38,555		2,708,103
DTE Energy Co.		8,256		972,144
MDU Resources Group, Inc.		258		6,633
NiSource, Inc.		6,708		182,994
NorthWestern Corp.		12,642		807,950
Public Service Enterprise Group, Inc.		22,962		1,252,577
Sempra Energy		5,676		663,979
Unitil Corp.		3,096		162,416
Vectren Corp.		8,256		597,569
WEC Energy Group, Inc.		13,674		998,612

				12,713,993

Oil, Gas & Consumable Fuels - 4.9%
Abraxas Petroleum Corp.*		95,976		114,211
Anadarko Petroleum Corp.		21,414		1,013,525
Antero Resources Corp.*		29,154		293,289
Apache Corp.(a)		25,284		829,821
Arch Coal, Inc., Class A(a)		9,804		864,027
Cabot Oil & Gas Corp.		17,028		424,849
California Resources Corp.*(a)		13,674		275,531
Callon Petroleum Co.*(a)		12,642		102,906
Carrizo Oil & Gas, Inc.*(a)		36,636		449,890
Centennial Resource Development, Inc., Class A*(a)		16,770		220,861
Cheniere Energy, Inc.*		7,224		474,256
Chevron Corp.		84,882		9,731,721
Cimarex Energy Co.		7,224		544,256
Clean Energy Fuels Corp.*		92,622		175,982
CNX Resources Corp.*		75,594		917,711
Comstock Resources, Inc.*(a)		10,062		60,473
Concho Resources, Inc.*		8,772		1,051,236
ConocoPhillips		54,954		3,719,836
CONSOL Energy, Inc.*		7,630		271,094
Continental Resources, Inc.*		4,902		226,325
CVR Energy, Inc.		9,546		383,272
Delek US Holdings, Inc.		24,510		796,820
Denbury Resources, Inc.*(a)		176,214		357,714
Devon Energy Corp.		29,670		790,705
Diamondback Energy, Inc.		6,708		691,729
Dorian LPG Ltd.*		15,558		85,258
Eclipse Resources Corp.*(a)		103,200		118,680
EOG Resources, Inc.		15,222		1,510,022
EP Energy Corp., Class A*(a)		114,294		78,794
EQT Corp.(a)		15,738		306,419
Extraction Oil & Gas, Inc.*(a)		34,056		134,181
Exxon Mobil Corp.		192,210		14,085,149
Gran Tierra Energy, Inc.*		1,290		3,057
Green Plains, Inc.(a)		14,190		201,640
Halcon Resources Corp.*(a)		97,782		160,362
Hess Corp.		3,612		195,048
HollyFrontier Corp.		18,318		1,032,036
Jagged Peak Energy, Inc.*(a)		14,706		154,854
Kinder Morgan, Inc.		100,878		1,825,892


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Oil, Gas & Consumable Fuels - (continued)
Kosmos Energy Ltd.*(a)		41,529		213,044
Marathon Oil Corp.		63,984		1,010,307
Marathon Petroleum Corp.		40,506		2,683,928
Matador Resources Co.*(a)		14,706		286,767
Murphy Oil Corp.(a)		8,514		232,858
Newfield Exploration Co.*		81,012		1,480,899
Noble Energy, Inc.		32,508		726,229
Northern Oil and Gas, Inc.*(a)		72,756		184,073
Occidental Petroleum Corp.		37,668		2,515,469
ONEOK, Inc.		13,416		861,441
Overseas Shipholding Group, Inc., Class A*		42,828		77,519
Parsley Energy, Inc., Class A*		23,994		445,809
PBF Energy, Inc., Class A		25,542		935,348
PDC Energy, Inc.*(a)		9,288		302,510
Peabody Energy Corp.		31,734		1,132,904
Penn Virginia Corp.*		3,612		189,486
Phillips 66		22,188		2,116,957
Pioneer Natural Resources Co.		7,482		1,064,838
Range Resources Corp.		10,578		116,675
Renewable Energy Group, Inc.*(a)		8,514		246,055
Resolute Energy Corp.*		6,708		219,553
REX American Resources Corp.*		1,548		112,896
Ring Energy, Inc.*		15,738		92,539
SemGroup Corp., Class A(a)		30,444		487,713
SM Energy Co.(a)		45,150		885,843
Southwestern Energy Co.*		17,802		77,795
Talos Energy, Inc.*		15,480		295,668
Targa Resources Corp.		4,128		177,545
Tellurian, Inc.*(a)		10,062		100,620
Valero Energy Corp.		19,350		1,699,317
W&T Offshore, Inc.*(a)		28,896		145,636
Whiting Petroleum Corp.*		34,314		982,410
WildHorse Resource Development Corp.*		10,537		178,813
Williams Cos., Inc. (The)		54,438		1,466,015
WPX Energy, Inc.*		41,538		509,256

				68,928,167

Paper & Forest Products - 0.3%
Boise Cascade Co.		12,900		354,363
Clearwater Paper Corp.*		4,902		165,295
Domtar Corp.		19,092		895,415
Louisiana-Pacific Corp.		44,634		1,088,177
Mercer International, Inc.		15,996		236,261
Neenah, Inc.		2,580		179,749
Resolute Forest Products, Inc.		30,444		237,463
Schweitzer-Mauduit International, Inc.		8,514		272,959
Verso Corp., Class A*		5,418		133,662

				3,563,344

Personal Products - 0.2%
Avon Products, Inc.*		24,768		57,957
Coty, Inc., Class A		39,990		310,322
Edgewell Personal Care Co.*(a)		1,548		61,069
elf Beauty, Inc.*(a)		3,870		32,508
Estee Lauder Cos., Inc. (The), Class A		7,998		1,091,087
Herbalife Nutrition Ltd.*		13,416		800,935


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Personal Products - (continued)
Inter Parfums, Inc.		2,838		188,613
Medifast, Inc.(a)		1,548		196,968
Nu Skin Enterprises, Inc., Class A		7,740		508,131
Revlon, Inc., Class A*		2,838		74,356
USANA Health Sciences, Inc.*		1,806		211,483

				3,533,429

Pharmaceuticals - 3.3%
Aclaris Therapeutics, Inc.*		10,836		75,527
Aerie Pharmaceuticals, Inc.*		4,386		206,230
Akorn, Inc.*		14,190		53,354
Allergan plc		10,320		1,485,874
ANI Pharmaceuticals, Inc.*		1,032		55,460
Assembly Biosciences, Inc.*(a)		3,096		70,527
Assertio Therapeutics, Inc.*		34,056		151,890
Bristol-Myers Squibb Co.		64,242		3,171,627
Catalent, Inc.*		6,450		238,198
Collegium Pharmaceutical, Inc.*(a)		7,740		123,917
Corcept Therapeutics, Inc.*(a)		8,514		95,186
Eli Lilly & Co.		34,830		4,174,724
Horizon Pharma plc*		42,570		914,829
Innoviva, Inc.*		26,058		445,592
Intersect ENT, Inc.*		1,548		45,929
Intra-Cellular Therapies, Inc.*		5,418		65,233
Jazz Pharmaceuticals plc*		2,322		292,317
Johnson & Johnson		103,200		13,733,856
Medicines Co. (The)*(a)		516		11,925
Merck & Co., Inc.		108,102		8,046,032
Mylan NV*		29,670		888,616
MyoKardia, Inc.*		1,548		64,056
Nektar Therapeutics*(a)		5,676		240,322
Odonate Therapeutics, Inc.*(a)		6,708		111,152
Omeros Corp.*(a)		1,290		17,596
Optinose, Inc.*(a)		6,966		44,861
Pacira Pharmaceuticals, Inc.*		1,290		52,477
Paratek Pharmaceuticals, Inc.*(a)		9,804		66,128
Pfizer, Inc.		236,328		10,032,124
Prestige Consumer Healthcare, Inc.*(a)		3,096		86,440
Revance Therapeutics, Inc.*		3,870		66,835
SIGA Technologies, Inc.*(a)		6,708		45,480
Supernus Pharmaceuticals, Inc.*		3,612		137,725
TherapeuticsMD, Inc.*(a)		20,124		105,651
Theravance Biopharma, Inc.*(a)		2,838		73,930
Zoetis, Inc.		16,254		1,400,445
Zogenix, Inc.*(a)		2,580		112,875

				47,004,940

Professional Services - 0.5%
ASGN, Inc.*		8,772		552,548
CBIZ, Inc.*		12,126		237,670
CoStar Group, Inc.*		1,806		705,676
Dun & Bradstreet Corp. (The)		774		112,029
Equifax, Inc.		4,128		441,778
Exponent, Inc.		6,192		309,352
Forrester Research, Inc.		516		23,173
FTI Consulting, Inc.*		8,772		599,303
GP Strategies Corp.*		6,192		93,128
Heidrick & Struggles International, Inc.		1,806		59,688


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Professional Services - (continued)
Huron Consulting Group, Inc.*		4,902		237,012
ICF International, Inc.		4,386		289,125
IHS Markit Ltd.*		4,902		254,512
Insperity, Inc.		5,160		550,469
Kelly Services, Inc., Class A		3,354		75,130
Kforce, Inc.		3,870		126,975
Korn Ferry		13,416		611,770
ManpowerGroup, Inc.		4,128		326,236
Mistras Group, Inc.*		258		3,795
Navigant Consulting, Inc.(a)		19,092		494,865
Resources Connection, Inc.		3,612		60,356
Robert Half International, Inc.		2,838		182,852
TransUnion		2,838		172,607
TriNet Group, Inc.*		2,580		117,803
TrueBlue, Inc.*		14,190		346,094
Upwork, Inc.*		2,838		54,802
Verisk Analytics, Inc.*		3,870		454,377
WageWorks, Inc.*		2,064		65,119

				7,558,244

Real Estate Management & Development - 0.3%
Altisource Portfolio Solutions SA*(a)		2,838		67,204
CBRE Group, Inc., Class A*		16,770		767,227
Cushman & Wakefield plc*(a)		16,254		280,219
eXp World Holdings, Inc.*		6,192		67,740
HFF, Inc., Class A		3,612		149,609
Howard Hughes Corp. (The)*(a)		3,096		343,780
Jones Lang LaSalle, Inc.		2,064		295,998
Kennedy-Wilson Holdings, Inc.		43,602		871,604
Newmark Group, Inc., Class A		60,630		633,584
RE/MAX Holdings, Inc., Class A		3,612		150,693
Realogy Holdings Corp.(a)		258		4,579
Redfin Corp.*(a)		7,482		133,853

				3,766,090

Road & Rail - 1.0%
AMERCO		516		187,133
ArcBest Corp.(a)		7,482		281,473
Avis Budget Group, Inc.*		24,252		646,073
Covenant Transportation Group, Inc., Class A*		3,612		85,171
CSX Corp.		33,540		2,203,578
Daseke, Inc.*		18,576		77,462
Genesee & Wyoming, Inc., Class A*(a)		1,806		141,807
Heartland Express, Inc.(a)		3,612		72,276
JB Hunt Transport Services, Inc.		1,290		138,082
Kansas City Southern		1,548		163,701
Knight-Swift Transportation Holdings, Inc.(a)		13,932		442,341
Landstar System, Inc.		3,354		340,699
Marten Transport Ltd.		8,772		169,738
Norfolk Southern Corp.		11,094		1,860,908
Old Dominion Freight Line, Inc.		4,128		561,119
Ryder System, Inc.		21,414		1,240,085
Saia, Inc.*		7,224		433,223
Schneider National, Inc., Class B		12,126		257,556
Union Pacific Corp.		26,832		4,268,166


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Road & Rail - (continued)
US Xpress Enterprises, Inc., Class A*		8,772		64,737
Werner Enterprises, Inc.(a)		1,290		42,467

				13,677,795

Semiconductors & Semiconductor Equipment - 3.3%
Advanced Energy Industries, Inc.*(a)		4,644		238,191
Advanced Micro Devices, Inc.*(a)		61,662		1,505,169
Ambarella, Inc.*(a)		516		19,608
Amkor Technology, Inc.*		49,278		394,224
Analog Devices, Inc.		11,868		1,173,270
Applied Materials, Inc.		50,826		1,986,280
Axcelis Technologies, Inc.*		11,868		247,210
Broadcom, Inc.		17,028		4,567,761
Brooks Automation, Inc.(a)		5,418		168,662
Cabot Microelectronics Corp.		2,322		236,589
CEVA, Inc.*		258		7,338
Cirrus Logic, Inc.*		19,866		738,022
Cohu, Inc.		270		4,736
Cree, Inc.*(a)		4,902		247,208
Cypress Semiconductor Corp.		42,570		590,446
Diodes, Inc.*		9,288		312,355
Entegris, Inc.		18,318		605,410
First Solar, Inc.*(a)		3,870		195,783
FormFactor, Inc.*(a)		18,576		279,012
Inphi Corp.*		2,580		101,755
Integrated Device Technology, Inc.*		13,932		680,578
Intel Corp.		231,168		10,892,636
KLA-Tencor Corp.		6,450		687,376
Kulicke & Soffa Industries, Inc.		14,190		319,701
Lam Research Corp.		5,934		1,006,288
Lattice Semiconductor Corp.*		8,256		64,397
MACOM Technology Solutions Holdings, Inc.*		5,160		93,035
MagnaChip Semiconductor Corp.*(a)		13,674		81,771
Marvell Technology Group Ltd.		13,674		253,379
Maxim Integrated Products, Inc.		7,224		392,046
MaxLinear, Inc.*(a)		2,064		40,496
Mellanox Technologies Ltd.*		1,806		168,698
Microchip Technology, Inc.(a)		8,772		705,006
Micron Technology, Inc.*		36,378		1,390,367
MKS Instruments, Inc.		18,060		1,474,238
Monolithic Power Systems, Inc.(a)		3,870		489,787
Nanometrics, Inc.*		258		7,892
NVIDIA Corp.		23,478		3,374,963
ON Semiconductor Corp.*		21,930		439,477
PDF Solutions, Inc.*		1,032		10,846
Photronics, Inc.*(a)		10,578		113,079
Power Integrations, Inc.		1,806		119,196
Qorvo, Inc.*		7,998		522,749
QUALCOMM, Inc.		57,534		2,849,084
Rambus, Inc.*		5,160		46,543
Rudolph Technologies, Inc.*		1,806		39,226
Semtech Corp.*		1,806		87,699
Silicon Laboratories, Inc.*		2,322		177,633
Skyworks Solutions, Inc.		5,934		433,419


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Semiconductors & Semiconductor Equipment - (continued)
SMART Global Holdings, Inc.*(a)		3,870		96,015
SolarEdge Technologies, Inc.*(a)		7,740		338,935
SunPower Corp.*(a)		5,160		29,980
Synaptics, Inc.*(a)		1,290		51,342
Teradyne, Inc.		6,450		232,136
Texas Instruments, Inc.		36,120		3,636,562
Ultra Clean Holdings, Inc.*(a)		21,156		250,910
Universal Display Corp.(a)		1,548		160,729
Veeco Instruments, Inc.*		25,026		245,505
Versum Materials, Inc.		6,450		237,167
Xilinx, Inc.		6,450		722,013
Xperi Corp.		15,996		342,794

				46,924,722

Software - 4.8%
2U, Inc.*(a)		3,870		220,010
8x8, Inc.*		7,998		140,845
ACI Worldwide, Inc.*		12,126		358,445
Adobe, Inc.*		18,576		4,603,504
ANSYS, Inc.*		2,580		424,023
Appian Corp.*(a)		1,548		49,830
Aspen Technology, Inc.*		6,708		648,194
Autodesk, Inc.*		8,514		1,253,261
Avaya Holdings Corp.*		38,184		645,691
Blackbaud, Inc.		3,096		221,674
Blackline, Inc.*(a)		1,032		49,103
Bottomline Technologies DE, Inc.*		516		26,651
Box, Inc., Class A*(a)		7,482		156,523
Cadence Design Systems, Inc.*		10,578		508,061
CDK Global, Inc.		6,966		340,707
Cision Ltd.*		4,386		54,386
Citrix Systems, Inc.		5,160		529,106
Cloudera, Inc.*		18,473		249,386
Cornerstone OnDemand, Inc.*		2,064		118,350
Coupa Software, Inc.*(a)		1,548		134,614
Digimarc Corp.*(a)		774		15,085
Dropbox, Inc., Class A*		7,740		191,255
Ebix, Inc.(a)		3,612		206,317
Ellie Mae, Inc.*(a)		2,064		156,451
Envestnet, Inc.*		2,064		111,972
Fair Isaac Corp.*(a)		2,322		522,914
FireEye, Inc.*(a)		10,836		191,581
Five9, Inc.*		2,064		105,532
Fortinet, Inc.*		10,320		790,202
Guidewire Software, Inc.*(a)		2,580		223,634
HubSpot, Inc.*		516		81,688
Intuit, Inc.		7,740		1,670,447
j2 Global, Inc.		3,096		232,695
LogMeIn, Inc.		1,806		167,994
Manhattan Associates, Inc.*(a)		4,128		201,323
Microsoft Corp.		297,732		31,092,153
MicroStrategy, Inc., Class A*		1,032		130,951
Mimecast Ltd.*		2,580		96,931
Monotype Imaging Holdings, Inc.		2,064		34,262
Nuance Communications, Inc.*		9,030		143,306
Nutanix, Inc., Class A*		3,354		171,825
OneSpan, Inc.*		3,354		48,935
Oracle Corp.		89,784		4,509,850
Paycom Software, Inc.*		1,032		152,984


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Software - (continued)
Pegasystems, Inc.		3,354		188,797
Progress Software Corp.		3,870		140,210
Proofpoint, Inc.*		2,580		262,825
PTC, Inc.*		9,288		787,530
Qualys, Inc.*(a)		1,548		133,948
RealPage, Inc.*(a)		1,290		71,943
Red Hat, Inc.*		6,450		1,147,068
RingCentral, Inc., Class A*(a)		774		71,549
salesforce.com, Inc.*		28,896		4,391,325
SendGrid, Inc.*		1,290		69,763
ServiceNow, Inc.*		6,450		1,419,129
Splunk, Inc.*		5,418		676,383
SPS Commerce, Inc.*		774		68,623
SS&C Technologies Holdings, Inc.(a)		7,482		385,248
Symantec Corp.		33,024		694,165
Synchronoss Technologies, Inc.*		15,996		114,691
Synopsys, Inc.*		3,870		361,265
Tableau Software, Inc., Class A*		3,096		395,793
Teradata Corp.*		16,254		721,353
Trade Desk, Inc. (The), Class A*		2,064		294,492
Tyler Technologies, Inc.*		1,806		341,677
Ultimate Software Group, Inc. (The)*		1,806		493,164
Verint Systems, Inc.*		18,318		886,042
VMware, Inc., Class A		1,548		233,856
Workday, Inc., Class A*		5,160		936,695
Zendesk, Inc.*		3,096		209,073

				67,479,258

Specialty Retail - 2.5%
Aaron’s, Inc.		20,124		1,007,407
Abercrombie & Fitch Co., Class A(a)		26,058		564,677
Advance Auto Parts, Inc.		3,096		492,883
American Eagle Outfitters, Inc.		47,730		1,008,058
Asbury Automotive Group, Inc.*		9,804		692,653
Ascena Retail Group, Inc.*(a)		87,204		213,650
AutoNation, Inc.*(a)		516		19,995
AutoZone, Inc.*		1,032		874,455
Barnes & Noble Education, Inc.*		7,224		41,321
Barnes & Noble, Inc.(a)		258		1,556
Bed Bath & Beyond, Inc.(a)		58,308		879,868
Best Buy Co., Inc.		10,578		626,641
Boot Barn Holdings, Inc.*(a)		2,838		66,494
Buckle, Inc. (The)(a)		10,062		174,777
Burlington Stores, Inc.*		5,418		930,325
Caleres, Inc.(a)		12,384		369,539
Camping World Holdings, Inc., Class A(a)		17,286		245,115
CarMax, Inc.*		10,320		606,610
Chico’s FAS, Inc.(a)		44,376		257,381
Children’s Place, Inc. (The)		2,064		199,713
Citi Trends, Inc.		2,580		52,864
Conn’s, Inc.*		8,514		178,283
Dick’s Sporting Goods, Inc.(a)		20,640		728,798
DSW, Inc., Class A		258		7,030
Five Below, Inc.*		1,806		223,456


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Specialty Retail - (continued)
Floor & Decor Holdings, Inc., Class A*(a)		6,708		230,017
Foot Locker, Inc.		19,092		1,067,052
Gap, Inc. (The)(a)		13,158		334,740
Genesco, Inc.*(a)		7,224		326,380
Guess?, Inc.		1,806		35,235
Haverty Furniture Cos., Inc.(a)		1,032		21,022
Hibbett Sports, Inc.*		6,708		109,609
Home Depot, Inc. (The)		46,182		8,475,782
L Brands, Inc.		14,448		402,232
Lithia Motors, Inc., Class A(a)		1,548		137,695
Lowe’s Cos., Inc.		26,832		2,580,165
MarineMax, Inc.*		3,096		55,047
Monro, Inc.		2,322		166,395
Murphy USA, Inc.*		5,160		379,518
National Vision Holdings, Inc.*(a)		6,966		221,240
Office Depot, Inc.		130,032		383,594
O’Reilly Automotive, Inc.*		2,838		978,145
Penske Automotive Group, Inc.(a)		3,870		181,426
RH*(a)		5,160		701,089
Ross Stores, Inc.		10,578		974,445
Sally Beauty Holdings, Inc.*(a)		43,602		750,826
Shoe Carnival, Inc.(a)		516		19,030
Sleep Number Corp.*(a)		4,644		167,184
Tiffany & Co.		5,418		480,739
TJX Cos., Inc. (The)		45,150		2,245,310
Tractor Supply Co.		7,998		683,029
Ulta Beauty, Inc.*		1,290		376,577
Urban Outfitters, Inc.*		24,768		800,006
Williams-Sonoma, Inc.(a)		14,190		772,362
Zumiez, Inc.*(a)		6,450		163,895

				34,683,335

Technology Hardware, Storage & Peripherals - 2.5%
3D Systems Corp.*(a)		13,674		174,480
Apple, Inc.		173,376		28,856,702
Cray, Inc.*		2,580		56,605
Dell Technologies, Inc., Class C*		6,175		300,043
Diebold Nixdorf, Inc.(a)		41,538		176,537
Electronics For Imaging, Inc.*(a)		2,064		54,510
Hewlett Packard Enterprise Co.		76,368		1,190,577
HP, Inc.		67,080		1,477,773
NetApp, Inc.		14,964		954,254
Pure Storage, Inc., Class A*(a)		20,898		374,283
Seagate Technology plc(a)		8,256		365,576
Western Digital Corp.		15,996		719,660
Xerox Corp.		10,320		291,127

				34,992,127

Textiles, Apparel & Luxury Goods - 0.7%
Capri Holdings Ltd.*		10,836		460,313
Carter’s, Inc.		1,290		106,941
Columbia Sportswear Co.		3,096		276,132
Crocs, Inc.*		10,578		303,800
Deckers Outdoor Corp.*		7,224		927,923
Fossil Group, Inc.*(a)		15,480		262,541
G-III Apparel Group Ltd.*(a)		4,386		152,940
Hanesbrands, Inc.		21,930		328,731
Lululemon Athletica, Inc.*		2,580		381,350
Movado Group, Inc.(a)		4,128		131,890


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Textiles, Apparel & Luxury Goods - (continued)
NIKE, Inc., Class B		42,054		3,443,381
Oxford Industries, Inc.(a)		4,644		355,637
Skechers U.S.A., Inc., Class A*		16,512		448,631
Steven Madden Ltd.(a)		6,564		214,315
Under Armour, Inc., Class A*(a)		11,610		240,791
Under Armour, Inc., Class C*		2,064		39,092
Unifi, Inc.*		2,580		55,186
Vera Bradley, Inc.*(a)		14,448		129,310
VF Corp.		14,190		1,194,372
Wolverine World Wide, Inc.		27,090		929,458

				10,382,734

Thrifts & Mortgage Finance - 0.7%
Axos Financial, Inc.*(a)		17,028		516,970
Beneficial Bancorp, Inc.		5,676		88,489
Capitol Federal Financial, Inc.(a)		1,290		16,602
Dime Community Bancshares, Inc.		11,610		228,949
Essent Group Ltd.*		37,152		1,476,792
Federal Agricultural Mortgage Corp., Class C		3,870		273,803
Flagstar Bancorp, Inc.*		14,190		437,761
HomeStreet, Inc.*		4,386		107,325
LendingTree, Inc.*(a)		774		229,367
Luther Burbank Corp.(a)		12,642		119,467
Merchants Bancorp		3,096		60,589
Meridian Bancorp, Inc.		4,902		77,623
Meta Financial Group, Inc.		7,740		182,277
MGIC Investment Corp.*		58,308		727,684
Mr Cooper Group, Inc.*		7,482		115,148
Northfield Bancorp, Inc.		5,160		73,840
Northwest Bancshares, Inc.(a)		16,254		286,721
Ocwen Financial Corp.*(a)		104,490		175,543
Oritani Financial Corp.		1,032		17,400
PennyMac Financial Services, Inc.		22,446		464,183
Provident Financial Services, Inc.		18,576		459,013
Radian Group, Inc.		68,628		1,320,403
TFS Financial Corp.(a)		2,838		46,288
TrustCo Bank Corp.(a)		30,444		236,245
United Financial Bancorp, Inc.		2,838		42,031
Walker & Dunlop, Inc.		9,030		434,072
Washington Federal, Inc.		33,282		968,173
WSFS Financial Corp.		3,870		163,198

				9,345,956

Tobacco - 0.7%
Altria Group, Inc.		77,658		3,832,422
Philip Morris International, Inc.		63,984		4,908,853
Pyxus International, Inc.*(a)		4,644		75,372
Universal Corp.		6,966		401,938

				9,218,585

Trading Companies & Distributors - 0.7%
Air Lease Corp.		26,832		1,018,006
Aircastle Ltd.		18,834		392,501
Applied Industrial Technologies, Inc.		4,386		258,818
Beacon Roofing Supply, Inc.*(a)		23,220		843,583
BMC Stock Holdings, Inc.*		21,414		367,464
CAI International, Inc.*		6,708		166,493
DXP Enterprises, Inc.*		4,128		135,852
Fastenal Co.		7,224		436,763


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Trading Companies & Distributors - (continued)
Foundation Building Materials, Inc.*		9,804		89,609
GATX Corp.(a)		17,028		1,288,679
GMS, Inc.*		13,416		253,965
H&E Equipment Services, Inc.		12,900		345,333
HD Supply Holdings, Inc.*		2,064		86,564
Herc Holdings, Inc.*		5,418		200,737
Kaman Corp.		6,450		381,324
MSC Industrial Direct Co., Inc., Class A		2,838		236,945
Nexeo Solutions, Inc.*		11,868		111,559
NOW, Inc.*(a)		39,732		537,574
Rush Enterprises, Inc., Class A		10,062		384,871
SiteOne Landscape Supply, Inc.*(a)		2,580		137,514
Systemax, Inc.		4,386		102,369
Triton International Ltd.		18,060		649,257
United Rentals, Inc.*		3,612		452,439
Univar, Inc.*		4,128		85,986
Watsco, Inc.		1,806		266,349
WESCO International, Inc.*		15,738		824,671
WW Grainger, Inc.		516		152,421

				10,207,646

Transportation Infrastructure - 0.1%
Macquarie Infrastructure Corp.(a)		25,542		1,102,648

Water Utilities - 0.1%
American States Water Co.		4,902		331,964
American Water Works Co., Inc.		4,128		394,926
Aqua America, Inc.		5,160		180,858
California Water Service Group		4,902		242,747
Connecticut Water Service, Inc.		516		35,005
SJW Group		774		46,401

				1,231,901

Wireless Telecommunication Services - 0.2%
Boingo Wireless, Inc.*		4,902		118,236
Gogo, Inc.*(a)		23,220		95,899
NII Holdings, Inc.*(a)		21,930		106,360
Shenandoah Telecommunications Co.		8,514		405,522
Spok Holdings, Inc.		2,838		39,278
Sprint Corp.*		36,120		225,389
Telephone & Data Systems, Inc.		10,578		383,135
T-Mobile US, Inc.*		14,706		1,023,832
United States Cellular Corp.*		1,032		59,422

				2,457,073

TOTAL COMMON STOCKS (Cost $999,644,591)				1,400,934,558


	Number of Rights
RIGHTS - 0.0%(c)
Chemicals - 0.0%(c)
A Schulman, Inc., CVR*‡(d)		8,177		16,354


Investments	Number of Rights		Value ($)
RIGHTS - (continued)
Media - 0.0%(c)
Media General, Inc., CVR*‡(d)		22,261		2,226

TOTAL RIGHTS (Cost $–)				18,580


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(e) - 5.0%
CERTIFICATES OF DEPOSIT - 2.4%
Bank of Montreal, Chicago (ICE LIBOR USD 1 Month + 0.33%), 2.84%, 8/6/2019(f)		5,000,000		5,001,285
Bank of Nova Scotia, Houston (SOFRRATE + 0.43%), 2.82%, 5/16/2019(f)		2,000,000		1,999,998
(ICE LIBOR USD 3 Month + 0.22%), 2.87%, 12/30/2019(f)		1,000,000		1,000,550
Cooperatieve Rabobank UA, London (ICE LIBOR USD 3 Month + 0.17%), 2.95%, 4/18/2019(f)		2,000,000		2,000,000
Mitsubishi UFJ Trust & Banking Corp., New York (ICE LIBOR USD 1 Month + 0.20%), 2.71%, 4/15/2019(f)		3,500,000		3,500,063
Oversea-Chinese Banking Corp. Ltd., New York (ICE LIBOR USD 1 Month + 0.19%), 2.70%, 4/17/2019(f)		4,000,000		3,999,480
Royal Bank of Canada, New York (ICE LIBOR USD 1 Month + 0.21%), 2.72%, 9/17/2019(f)		3,000,000		3,001,311
Sumitomo Mitsui Trust Bank, Ltd., New York
2.64%, 4/23/2019		1,000,000		1,000,160
The Sumitomo Bank Ltd., New York
2.76%, 3/7/2019		2,000,000		2,000,000
(ICE LIBOR USD 1 Month + 0.21%), 2.72%, 5/17/2019(f)		3,000,000		3,000,429
Toronto-Dominion Bank, New York (ICE LIBOR USD 1 Month + 0.21%), 2.72%, 9/17/2019(f)		2,000,000		1,998,354
Wells Fargo Bank (San Francisco) NA (ICE LIBOR USD 3 Month + 0.21%), 2.97%, 10/25/2019(f)		3,500,000		3,500,000


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS(e) - (continued)
CERTIFICATES OF DEPOSIT - (continued)
Westpac Banking Corp., New York (US Federal Funds Effective Rate (continuous series) + 0.45%), 2.85%, 2/15/2019(f)		2,000,000		2,000,000

TOTAL CERTIFICATES OF DEPOSIT (Cost $34,001,501)				34,001,630

COMMERCIAL PAPER - 0.9%
Banco Santander SA, New York
2.76%, 2/7/2019		2,500,000		2,498,858
Macquarie Bank Ltd.
2.74%, 2/12/2019(g)		1,000,000		999,167
National Bank of Canada (ICE LIBOR USD 1 Month + 0.27%), 2.78%, 5/7/2019(f)(g)		5,000,000		4,999,995
Union Bank of Switzerland (ICE LIBOR USD 1 Month + 0.43%), 2.95%, 2/1/2019(f)(g)		4,000,000		4,000,000

TOTAL COMMERCIAL PAPER (Cost $12,498,025)				12,498,020

REPURCHASE AGREEMENTS - 1.7%
Citadel Clearing LLC, 3.00%, dated 1/31/2019, due 5/3/2019, repurchase price $5,038,333, collateralized by various Common Stocks; total market value $5,555,820		5,000,000		5,000,000
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $4,036,176, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $4,124,217		4,035,890		4,035,890
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $8,000,540, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $8,167,252		8,000,000		8,000,000
ML Pierce Fenner & Smith, Inc., 2.94%, dated 1/31/2019, due 5/3/2019, repurchase price $6,045,080, collateralized by various Common Stocks; total market value $6,696,278		6,000,000		6,000,000


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS(e) - (continued)
REPURCHASE AGREEMENTS - (continued)
Societe Generale, 2.50%, dated 1/31/2019, due 2/1/2019, repurchase price $1,500,104, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 4.25%, maturing 9/30/2019 - 11/15/2048; Common Stocks; total market value $1,671,808		1,500,000		1,500,000

TOTAL REPURCHASE AGREEMENTS (Cost $24,535,890)				24,535,890

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $71,035,416)				71,035,540

Total Investments - 104.1% (Cost $1,070,680,007)				1,471,988,678
Liabilities in excess of other assets - (4.1%)				(57,383,892	)

Net Assets - 100.0%				1,414,604,786

*	Non-income producing security.

‡	Value determined using significant unobservable inputs.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $107,384,308, collateralized in the form of cash with a value of $71,015,955 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $29,014,439 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 12, 2019 – February 15, 2048 and $10,634,833 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 6.25%, and maturity dates ranging from March 15, 2019 – October 22, 2071; a total value of $110,665,227.

(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)	Security fair valued as of January 31, 2019 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2019 amounted to $18,580, which represents approximately 0.00% of net assets of the Fund.

(e)	The security was purchased with cash collateral held from securities on loan at January 31, 2019. The total value of securities purchased was $71,035,540.

(f)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of January 31, 2019.

(g)	Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration normally to qualified institutional buyers.

Percentages shown are based on Net Assets.

Investment in a company which was affiliated for the period ended January 31, 2019, was as follows:

FlexShares^® Morningstar US Market Factor Tilt Index Fund had the following open futures contracts as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 98.4%
Aerospace & Defense - 0.7%
Airbus SE		17,958		2,065,124
BAE Systems plc		81,836		550,959
Bombardier, Inc., Class A*		35,360		56,407
Bombardier, Inc., Class B*		48,735		73,847
CAE, Inc.		7,384		156,980
Cobham plc*		7,653		10,857
Dassault Aviation SA		55		82,106
Elbit Systems Ltd.		412		50,938
FACC AG		4,480		82,969
Leonardo SpA		33,366		323,821
LISI		3,196		101,583
Maxar Technologies, Inc.(a)		51,970		292,042
Meggitt plc		38,130		258,715
MTU Aero Engines AG		1,476		318,742
QinetiQ Group plc		30,657		122,193
Rolls-Royce Holdings plc*		48,626		565,707
Saab AB, Class B		2,493		86,055
Safran SA		10,496		1,378,996
Senior plc		47,440		141,160
Singapore Technologies Engineering Ltd.		17,900		49,521
Thales SA		3,772		418,362

				7,187,084

Air Freight & Logistics - 0.4%
Bollore SA		12,720		52,573
bpost SA(a)		15,440		141,645
Ceva Logistics AG*(a)		2,240		67,961
Cia de Distribucion Integral Logista Holdings SA		2,159		55,839
Deutsche Post AG (Registered)		33,128		979,208
Freightways Ltd.		12,987		68,279
ID Logistics Group*		81		13,644
Kerry Logistics Network Ltd.		40,500		63,485
Kintetsu World Express, Inc.		14,000		202,224
Konoike Transport Co. Ltd.		30,700		459,809
Mainfreight Ltd.		3,192		69,740
Panalpina Welttransport Holding AG (Registered)		680		119,673
PostNL NV(a)		321,671		835,276
Royal Mail plc		20,480		72,227
SBS Holdings, Inc.		16,600		242,983
SG Holdings Co. Ltd.		500		13,402
Yamato Holdings Co. Ltd.		12,700		338,009

				3,795,977

Airlines - 0.8%
Air Canada*		21,566		487,218
Air France-KLM*		20,008		252,540
Air New Zealand Ltd.		30,617		59,673
ANA Holdings, Inc.		4,500		165,726
Chorus Aviation, Inc.(a)		150,798		815,249
Dart Group plc		78,720		822,205


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Airlines - (continued)
Deutsche Lufthansa AG (Registered)		16,810		425,507
easyJet plc		6,640		110,405
Exchange Income Corp.(a)		30,012		665,004
Finnair OYJ		60,844		511,398
International Consolidated Airlines Group SA, DI		43,132		365,393
Japan Airlines Co. Ltd.		8,700		316,887
Norwegian Air Shuttle ASA*(a)		7,200		110,049
Qantas Airways Ltd.		41,760		165,644
SAS AB*(a)		176,497		476,784
Singapore Airlines Ltd.		12,000		86,119
WestJet Airlines Ltd.		108,723		1,664,001
Wizz Air Holdings plc*(b)		2,172		86,600

				7,586,402

Auto Components - 2.4%
Aisan Industry Co. Ltd.		12,808		88,619
Aisin Seiki Co. Ltd.		9,500		374,483
ARB Corp. Ltd.(a)		997		11,384
Autoneum Holding AG(a)		1,558		255,505
Brembo SpA		3,647		41,722
Bridgestone Corp.		35,300		1,358,416
CIE Automotive SA		3,217		90,438
Cie Generale des Etablissements Michelin SCA		8,528		928,052
Cie Plastic Omnium SA		720		19,836
Continental AG		6,314		997,274
Daikyonishikawa Corp.		51,004		525,365
Denso Corp.		20,800		953,325
Dometic Group AB(c)		950		6,778
Eagle Industry Co. Ltd.		12,600		148,426
Exedy Corp.		2,800		70,495
Faurecia SA		6,560		287,241
FCC Co. Ltd.		5,300		134,217
Futaba Industrial Co. Ltd.		22,500		116,811
Gestamp Automocion SA(b)		24,236		141,968
G-Tekt Corp.		26,500		389,355
GUD Holdings Ltd.		4,852		39,765
Hella GmbH & Co. KGaA		4,720		214,797
HI-LEX Corp.		17,564		335,206
Ichikoh Industries Ltd.		17,400		96,089
Keihin Corp.		12,300		219,485
Koito Manufacturing Co. Ltd.		3,200		192,006
KYB Corp.(a)		19,700		532,912
Leoni AG		24,500		908,316
Linamar Corp.		880		34,133
Magna International, Inc.		14,104		746,815
Martinrea International, Inc.		95,612		916,588
Musashi Seimitsu Industry Co. Ltd.		37,800		549,130
NGK Spark Plug Co. Ltd.		7,400		158,975
NHK Spring Co. Ltd.		17,000		157,613
Nifco, Inc.(a)		2,400		58,352
Nihon Tokushu Toryo Co. Ltd.		24,900		299,953
Nippon Seiki Co. Ltd.		48,800		904,883
Nissin Kogyo Co. Ltd.		18,200		247,171
NOK Corp.(a)		16,600		267,388


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Auto Components - (continued)
Nokian Renkaat OYJ		6,828		227,366
Pacific Industrial Co. Ltd.(a)		51,500		726,385
Piolax, Inc.(a)		24,600		502,036
Press Kogyo Co. Ltd.		98,400		533,456
Riken Corp.(a)		8,300		374,465
SAF-Holland SA(a)		47,232		591,282
Schaeffler AG (Preference)		156,210		1,387,342
Showa Corp.		50,200		645,778
Stanley Electric Co. Ltd.		3,800		110,163
Sumitomo Electric Industries Ltd.		32,300		458,991
Sumitomo Riko Co. Ltd.		29,000		260,075
Sumitomo Rubber Industries Ltd.		9,300		128,951
Tachi-S Co. Ltd.		20,100		275,929
TI Fluid Systems plc(b)		132,348		330,785
Tokai Rika Co. Ltd.		10,700		189,656
Topre Corp.		6,000		131,269
Toyo Tire Corp.(a)		4,600		64,585
Toyoda Gosei Co. Ltd.		7,800		169,933
Toyota Boshoku Corp.		2,700		43,813
Toyota Industries Corp.		9,600		473,693
TPR Co. Ltd.		33,900		722,668
TS Tech Co. Ltd.		9,300		278,581
Unipres Corp.		26,000		502,178
Valeo SA		9,713		303,929
Yokohama Rubber Co. Ltd. (The)(a)		8,000		169,365

				23,421,961

Automobiles - 2.7%
Aston Martin Lagonda Global Holdings plc*(b)		8,000		131,061
Bayerische Motoren Werke AG		14,760		1,244,145
Bayerische Motoren Werke AG (Preference)		7,544		557,903
Daimler AG (Registered)		54,694		3,242,111
Ferrari NV		3,444		429,167
Fiat Chrysler Automobiles NV*		52,480		898,335
Honda Motor Co. Ltd.		100,800		3,009,273
Isuzu Motors Ltd.		36,200		537,528
Mazda Motor Corp.		16,600		182,885
Mitsubishi Motors Corp.		17,300		106,982
Nissan Motor Co. Ltd.		139,800		1,190,542
Peugeot SA		22,796		575,198
Porsche Automobil Holding SE (Preference)		9,594		625,290
Renault SA		9,430		669,245
Subaru Corp.		30,700		719,897
Suzuki Motor Corp.		17,100		891,532
Toyota Motor Corp.		140,700		8,629,721
Trigano SA		1,214		117,709
Volkswagen AG		4,100		715,091
Volkswagen AG (Preference)		8,610		1,468,298
Yamaha Motor Co. Ltd.(a)		18,700		399,671

				26,341,584

Banks - 10.8%
77 Bank Ltd. (The)		2,300		40,556
ABN AMRO Group NV, CVA(b)		25,830		643,751
AIB Group plc		48,954		219,072
Aichi Bank Ltd. (The)(a)		8,600		280,134


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
Akita Bank Ltd. (The)		7,900		158,610
Aozora Bank Ltd.		12,600		387,853
Australia & New Zealand Banking Group Ltd.		146,042		2,665,358
Banca Monte dei Paschi di Siena SpA*(a)		214,114		303,421
Banca Popolare di Sondrio SCPA		13,387		35,760
Banco Bilbao Vizcaya Argentaria SA		376,708		2,234,751
Banco BPM SpA*(a)		144,996		281,441
Banco Comercial Portugues SA, Class R*(a)		832,546		230,229
Banco de Sabadell SA		375,560		430,678
Banco Espirito Santo SA (Registered)*‡(d)		48,647		—
Banco Santander SA		885,928		4,200,418
Bank Hapoalim BM		76,588		518,351
Bank Leumi Le-Israel BM		57,482		379,548
Bank of Cyprus Holdings plc*		152,349		196,490
Bank of East Asia Ltd. (The)		20,589		69,140
Bank of Georgia Group plc		2,000		40,311
Bank of Ireland Group plc		32,882		197,330
Bank of Kyoto Ltd. (The)		2,600		110,493
Bank of Montreal		20,828		1,525,346
Bank of Nova Scotia (The)		63,304		3,605,527
Bank of Okinawa Ltd. (The)		4,240		120,970
Bank of Queensland Ltd.		41,406		307,044
Bank of the Ryukyus Ltd.		23,861		249,068
Bankia SA(a)		33,120		96,529
Bankinter SA		21,280		166,236
Banque Cantonale de Geneve(a)		480		94,587
Banque Cantonale Vaudoise (Registered)		186		147,735
Barclays plc		782,362		1,627,922
BAWAG Group AG(b)		4,920		208,656
Bendigo & Adelaide Bank Ltd.		3,078		24,194
Berner Kantonalbank AG (Registered)		640		135,793
BNP Paribas SA		62,894		2,956,351
BPER Banca(a)		431,484		1,463,534
Caisse Regionale de Credit Agricole Mutuel de Paris et d’Ile-de-France		7,790		827,718
CaixaBank SA		216,808		820,464
Canadian Imperial Bank of Commerce(a)		22,878		1,940,789
Canadian Western Bank		9,211		206,341
Chiba Bank Ltd. (The)		17,400		105,842
comdirect bank AG		7,483		86,207
Commerzbank AG*		19,040		136,787
Commonwealth Bank of Australia		50,922		2,595,743
Concordia Financial Group Ltd.		43,121		177,508
Credit Agricole SA		73,308		837,724
Credito Emiliano SpA(a)		102,148		583,704
Credito Valtellinese SpA*(a)		4,329,354		324,889
CYBG plc		24,880		57,373
Dah Sing Banking Group Ltd.		24,640		48,045
Dah Sing Financial Holdings Ltd.		5,340		29,467
Danske Bank A/S		32,554		602,861


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
DBS Group Holdings Ltd.		62,929		1,119,445
DNB ASA		44,034		780,730
Ehime Bank Ltd. (The)		41,500		400,776
Eighteenth Bank Ltd. (The)		16,600		404,361
Erste Group Bank AG*		11,644		406,172
FIBI Holdings Ltd.		9,235		257,993
FinecoBank Banca Fineco SpA		6,110		66,520
Fukuoka Financial Group, Inc.		14,100		311,073
Graubuendner Kantonalbank		81		117,977
Gunma Bank Ltd. (The)		38,900		171,570
Hachijuni Bank Ltd. (The)		57,400		254,220
Hang Seng Bank Ltd.		24,600		563,060
Heartland Group Holdings Ltd.		211,160		202,116
Hiroshima Bank Ltd. (The)		32,000		185,243
Hokkoku Bank Ltd. (The)		18,600		559,726
Hokuhoku Financial Group, Inc.		16,400		188,066
HSBC Holdings plc		646,652		5,434,728
Hyakugo Bank Ltd. (The)		283,800		1,027,448
Hyakujushi Bank Ltd. (The)		24,600		572,787
ING Groep NV		214,922		2,543,066
Intesa Sanpaolo SpA		793,924		1,817,239
Israel Discount Bank Ltd., Class A		73,900		260,961
Juroku Bank Ltd. (The)		26,400		578,796
Jyske Bank A/S (Registered)		800		30,060
KBC Group NV		11,890		808,768
Keiyo Bank Ltd. (The)		117,100		738,129
Kiyo Bank Ltd. (The)		51,400		740,088
Laurentian Bank of Canada(a)		40,016		1,345,852
Liberbank SA*		1,469,686		728,184
Liechtensteinische Landesbank AG		1,920		125,987
Lloyds Banking Group plc		3,970,850		3,024,380
Luzerner Kantonalbank AG (Registered)		259		124,266
Mebuki Financial Group, Inc.		90,810		254,498
Mediobanca Banca di Credito Finanziario SpA		27,552		240,144
Mitsubishi UFJ Financial Group, Inc.		675,300		3,621,291
Miyazaki Bank Ltd. (The)		8,500		213,769
Mizrahi Tefahot Bank Ltd.		12,333		229,161
Mizuho Financial Group, Inc.		1,254,600		2,068,136
Musashino Bank Ltd. (The)		27,700		635,550
Nanto Bank Ltd. (The)		19,946		407,058
National Australia Bank Ltd.		74,128		1,289,643
National Bank of Canada		21,156		995,539
Nordea Bank Abp		150,634		1,368,106
North Pacific Bank Ltd.		22,600		60,430
Ogaki Kyoritsu Bank Ltd. (The)(a)		44,000		915,336
Oita Bank Ltd. (The)		8,700		266,604
Oversea-Chinese Banking Corp. Ltd.		131,200		1,123,052
Permanent TSB Group Holdings plc*		56,800		106,887
Raiffeisen Bank International AG		11,873		314,434
Resona Holdings, Inc.		114,300		577,539
Ringkjoebing Landbobank A/S		1,100		58,914
Royal Bank of Canada		42,230		3,216,207
Royal Bank of Scotland Group plc		205,164		650,148
San-In Godo Bank Ltd. (The)		24,800		179,796


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
Sbanken ASA(b)		12,000		108,981
Seven Bank Ltd.		48,600		144,688
Shiga Bank Ltd. (The)		1,000		23,275
Shikoku Bank Ltd. (The)		42,400		408,689
Shinsei Bank Ltd.		24,600		332,732
Shizuoka Bank Ltd. (The)		3,100		25,978
Skandinaviska Enskilda Banken AB, Class A		51,660		541,310
Skandinaviska Enskilda Banken AB, Class C		7,040		76,180
Societe Generale SA		36,080		1,123,596
Spar Nord Bank A/S		64,042		542,303
SpareBank 1 Nord Norge		92,168		722,157
Sparebank 1 Oestlandet		16,416		164,871
SpareBank 1 SMN		106,682		1,096,772
SpareBank 1 SR-Bank ASA		8,041		87,059
St Galler Kantonalbank AG (Registered)		110		55,105
Standard Chartered plc		149,322		1,205,857
Sumitomo Mitsui Financial Group, Inc.		69,300		2,575,747
Sumitomo Mitsui Trust Holdings, Inc.		22,800		864,611
Suruga Bank Ltd.(a)		224,000		959,147
Svenska Handelsbanken AB, Class A		29,356		318,634
Svenska Handelsbanken AB, Class B		26,814		310,011
Swedbank AB, Class A		32,390		734,277
Sydbank A/S		63,608		1,472,186
TBC Bank Group plc		28,372		537,436
Toho Bank Ltd. (The)		22,732		65,378
TOMONY Holdings, Inc.		175,100		648,399
Toronto-Dominion Bank (The)		54,776		3,086,442
Unicaja Banco SA(b)		776,622		913,413
UniCredit SpA		122,836		1,421,885
Unione di Banche Italiane SpA(a)		86,420		222,025
United Overseas Bank Ltd.		51,426		963,389
Valiant Holding AG (Registered)		1,722		186,068
Van Lanschot Kempen NV, CVA*		36,818		866,060
Walliser Kantonalbank (Registered)		960		111,279
Westpac Banking Corp.		96,678		1,730,597
Yamagata Bank Ltd. (The)		2,200		39,864
Yamaguchi Financial Group, Inc.		19,000		193,265
Yamanashi Chuo Bank Ltd. (The)		16,400		208,862

				105,505,206

Beverages - 1.2%
AG Barr plc		4,785		47,460
Anheuser-Busch InBev SA/NV		28,982		2,215,142
Asahi Group Holdings Ltd.		17,200		718,313
Britvic plc		16,720		193,660
C&C Group plc		20,320		76,943
Carlsberg A/S, Class B		3,198		366,348
Coca-Cola Amatil Ltd.		37,064		227,012
Coca-Cola Bottlers Japan Holdings, Inc.		3,354		103,397
Coca-Cola European Partners plc		8,200		390,156
Coca-Cola HBC AG, DI*		4,000		134,597


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Beverages - (continued)
Cott Corp.		2,631		39,847
Davide Campari-Milano SpA		13,794		124,170
Diageo plc		76,752		2,929,453
Fevertree Drinks plc		3,795		128,348
Goldin Financial Holdings Ltd.*		60,000		20,187
Heineken Holding NV		2,788		242,491
Heineken NV		5,986		538,364
Ito En Ltd.		800		35,542
Kirin Holdings Co. Ltd.		29,338		698,203
Molson Coors Canada, Inc., Class B		8,036		544,585
Pernod Ricard SA		6,806		1,132,384
Remy Cointreau SA		580		67,550
Royal Unibrew A/S		1,210		91,193
Sapporo Holdings Ltd.(a)		1,800		41,034
Suntory Beverage & Food Ltd.		3,000		132,730
Takara Holdings, Inc.		8,600		98,304
Treasury Wine Estates Ltd.		22,632		254,958

				11,592,371

Biotechnology - 0.4%
Abcam plc		10,049		175,416
BioGaia AB, Class B		1,134		46,126
Biotest AG (Preference)		972		25,652
Cellectis SA*		178		3,133
CSL Ltd.		14,104		2,002,487
DBV Technologies SA*(a)		3,440		45,117
Galapagos NV*(a)		1,680		173,109
Genmab A/S*		1,162		169,151
Genus plc		6,007		175,896
Grifols SA		10,332		269,712
Grifols SA (Preference), Class B		5,680		106,236
HEALIOS KK*		1,100		16,667
Knight Therapeutics, Inc.*		11,684		70,106
PeptiDream, Inc.*(a)		2,500		106,473
SanBio Co. Ltd.*(a)		2,200		145,750
Swedish Orphan Biovitrum AB*		6,345		149,802
Vitrolife AB		4,445		78,442

				3,759,275

Building Products - 1.1%
AGC, Inc.		6,200		209,933
Aica Kogyo Co. Ltd.		1,500		52,582
Assa Abloy AB, Class B		29,684		552,028
Belimo Holding AG (Registered)		21		91,337
Bunka Shutter Co. Ltd.		50,900		349,841
Central Glass Co. Ltd.		33,000		727,740
Cie de Saint-Gobain		26,076		901,218
Daikin Industries Ltd.		8,800		951,319
dormakaba Holding AG*(a)		212		139,752
Geberit AG (Registered)		820		320,776
GWA Group Ltd.(a)		100,614		205,416
Inwido AB		22,194		142,281
James Halstead plc		4,686		28,355
Kingspan Group plc		4,894		200,478
Lindab International AB		63,058		507,405
Munters Group AB(b)		28,640		116,494
Nibe Industrier AB, Class B		9,994		113,447
Nichias Corp.		6,500		112,524
Nichiha Corp.(a)		28,300		724,728


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Building Products - (continued)
Nippon Sheet Glass Co. Ltd.(a)		84,700		763,491
Nitto Boseki Co. Ltd.		26,300		462,298
Okabe Co. Ltd.		37,700		296,529
Reliance Worldwide Corp. Ltd.(a)		52,795		185,163
Rockwool International A/S, Class A		220		51,223
Rockwool International A/S, Class B		402		107,745
Sanwa Holdings Corp.		9,800		112,561
Schweiter Technologies AG		56		53,059
Sekisui Jushi Corp.		11,200		210,868
Takara Standard Co. Ltd.		8,976		128,912
Takasago Thermal Engineering Co. Ltd.		9,100		143,319
Tarkett SA		698		15,201
TOTO Ltd.		3,900		151,047
Tyman plc		204,754		624,877
Uponor OYJ		49,533		563,535

				10,317,482

Capital Markets - 2.5%
3i Group plc		61,090		682,746
Amundi SA(b)		1,440		82,947
Anima Holding SpA(b)		296,133		1,219,874
Ashmore Group plc		23,895		127,051
ASX Ltd.		2,924		135,832
Avanza Bank Holding AB		1,367		62,070
Azimut Holding SpA(a)		113,312		1,439,320
Banca Generali SpA		1,397		33,022
Bolsas y Mercados Espanoles SHMSF SA		965		29,210
Brederode SA*		9,754		646,911
Brewin Dolphin Holdings plc		40,522		159,381
Brookfield Asset Management, Inc., Class A		29,028		1,249,709
Bure Equity AB		10,080		123,894
Burford Capital Ltd.		9,911		239,367
CI Financial Corp.		20,867		281,076
Close Brothers Group plc		16,395		320,267
Credit Suisse Group AG (Registered)*		130,462		1,579,983
Daiwa Securities Group, Inc.		94,600		470,957
Deutsche Bank AG (Registered)		84,296		749,235
Deutsche Boerse AG		6,152		820,622
EFG International AG*(a)		58,466		346,518
Euronext NV(b)		1,650		101,954
Fairfax India Holdings Corp.*(b)		94,179		1,213,967
Fiera Capital Corp.(a)		34,932		319,982
Flow Traders(b)		3,572		110,665
Gimv NV		14,432		828,000
Haitong International Securities Group Ltd.(a)		93,301		32,580
Hargreaves Lansdown plc		5,061		108,717
Hong Kong Exchanges & Clearing Ltd.		37,037		1,151,698
IG Group Holdings plc		673		5,622
IGM Financial, Inc.		8,770		225,577
Intermediate Capital Group plc		18,532		247,680
Investec plc		18,480		118,922


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Capital Markets - (continued)
IOOF Holdings Ltd.(a)		37,120		136,142
Jafco Co. Ltd.		300		10,503
Japan Exchange Group, Inc.		19,400		340,654
Julius Baer Group Ltd.*		4,160		166,970
Jupiter Fund Management plc		4,560		19,639
London Stock Exchange Group plc		9,430		568,011
Macquarie Group Ltd.		10,742		912,333
Magellan Financial Group Ltd.(a)		14,924		310,568
Man Group plc		79,920		149,969
Marusan Securities Co. Ltd.		3,500		25,760
Mason Group Holdings Ltd.*		2,078,905		30,203
Monex Group, Inc.		15,400		53,772
Natixis SA		19,440		99,754
Nomura Holdings, Inc.		143,200		581,458
Okasan Securities Group, Inc.(a)		29,600		129,736
Partners Group Holding AG		574		394,874
Pendal Group Ltd.(a)		6,964		38,083
Perpetual Ltd.		6,880		163,991
Platinum Asset Management Ltd.(a)		31,440		103,389
Quilter plc(b)		166,542		269,027
Rathbone Brothers plc		1,140		34,701
Ratos AB, Class B		204,918		587,988
Rothschild & Co.		6,888		228,415
Sanne Group plc		13,604		89,477
SBI Holdings, Inc.		11,200		238,552
Schroders plc		960		32,972
Schroders plc (Non-Voting)		4,377		118,609
Sparx Group Co. Ltd.		56,700		96,384
St James’s Place plc		12,720		156,951
TMX Group Ltd.		1,545		93,126
Tokai Tokyo Financial Holdings, Inc.		37,200		163,389
TP ICAP plc		5,817		24,104
UBS Group AG (Registered)*		212,872		2,757,187
Value Partners Group Ltd.(a)		8,000		5,913
Vontobel Holding AG (Registered)		339		19,118
Vostok New Ventures Ltd., SDR*(a)		6,341		52,566
VZ Holding AG		57		15,139
Yunfeng Financial Group Ltd.*		136,000		79,208

				24,563,991

Chemicals - 3.0%
ADEKA Corp.		4,200		66,147
Air Liquide SA		12,352		1,501,661
Air Water, Inc.		6,000		99,954
Akzo Nobel NV		6,195		535,693
Arkema SA		4,920		468,121
Asahi Kasei Corp.		52,700		577,216
BASF SE		50,348		3,686,997
Borregaard ASA(a)		6,375		56,609
Chemtrade Logistics Income Fund		14,560		117,518
Chr Hansen Holding A/S		2,952		280,369
Chugoku Marine Paints Ltd.(a)		26,400		235,545
CI Takiron Corp.(a)		64,500		346,118
Clariant AG (Registered)*		12,738		253,194
Corbion NV		3,198		90,858
Covestro AG(b)		7,216		398,930


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Chemicals - (continued)
Croda International plc		4,838		306,815
Daicel Corp.		15,700		164,458
Dainichiseika Color & Chemicals Manufacturing Co. Ltd.		16,400		419,381
Denka Co. Ltd.		10,900		349,545
DIC Corp.(a)		2,899		92,833
DuluxGroup Ltd.		12,466		62,264
Elementis plc		9,933		23,820
Elkem ASA*(b)		28,160		81,570
EMS-Chemie Holding AG (Registered)		444		221,978
Evonik Industries AG		4,000		109,513
FUCHS PETROLUB SE		3,256		143,092
FUCHS PETROLUB SE (Preference)		2,151		100,997
Fujimori Kogyo Co. Ltd.		11,900		310,321
Fuso Chemical Co. Ltd.(a)		1,100		21,529
Givaudan SA (Registered)		246		597,085
Hexpol AB		5,784		51,177
Incitec Pivot Ltd.		54,091		130,548
Ishihara Sangyo Kaisha Ltd.*		39,700		404,186
Israel Chemicals Ltd.		29,862		173,012
Israel Corp. Ltd. (The)		243		69,959
JCU Corp.		8,100		116,182
Johnson Matthey plc		3,360		134,498
JSP Corp.		18,700		382,832
JSR Corp.		8,300		133,923
K+S AG (Registered)		714		13,911
Kaneka Corp.		4,400		171,828
Kansai Paint Co. Ltd.		6,100		107,057
Kanto Denka Kogyo Co. Ltd.(a)		35,200		292,067
KH Neochem Co. Ltd.(a)		9,800		229,714
Koninklijke DSM NV		5,166		483,584
Konishi Co. Ltd.(a)		17,700		257,132
Kumiai Chemical Industry Co. Ltd.(a)		29,948		185,747
Kuraray Co. Ltd.		26,100		400,745
Kureha Corp.		3,800		238,133
LANXESS AG		4,799		264,428
Lenzing AG(a)		485		47,582
Lintec Corp.		1,800		39,877
Methanex Corp.		4,838		263,764
Mitsubishi Chemical Holdings Corp.		90,900		779,370
Mitsubishi Gas Chemical Co., Inc.		17,400		274,198
Mitsui Chemicals, Inc.		16,800		420,502
Moriroku Holdings Co. Ltd.		8,300		195,774
Nihon Parkerizing Co. Ltd.		7,600		89,806
Nippon Kayaku Co. Ltd.		15,100		189,947
Nippon Paint Holdings Co. Ltd.(a)		5,200		173,923
Nippon Shokubai Co. Ltd.		400		26,463
Nippon Soda Co. Ltd.		27,839		705,504
Nissan Chemical Corp.		3,800		201,819
Nitto Denko Corp.		3,300		186,180
NOF Corp.		2,000		65,883
Novozymes A/S, Class B		7,134		298,324
Nufarm Ltd.(a)		9,690		44,088
Nutrien Ltd.		19,106		990,288
OCI NV*		1,318		27,948


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Chemicals - (continued)
Okamoto Industries, Inc.		600		30,819
Orica Ltd.		4,722		59,048
Osaka Soda Co. Ltd.(a)		17,200		393,689
Sakata INX Corp.(a)		33,200		362,720
Sanyo Chemical Industries Ltd.(a)		11,600		555,325
Scapa Group plc		24,480		110,132
Shikoku Chemicals Corp.		10,000		110,264
Shin-Etsu Chemical Co. Ltd.		13,000		1,096,095
Shin-Etsu Polymer Co. Ltd.		23,200		174,592
Showa Denko KK(a)		9,900		331,122
Sika AG (Registered)(a)		4,920		649,652
Sirius Minerals plc*(a)		234,473		60,731
SOL SpA		3,009		38,670
Solvay SA		2,788		304,169
Sumitomo Bakelite Co. Ltd.		3,000		111,642
Sumitomo Chemical Co. Ltd.		68,600		356,773
Sumitomo Seika Chemicals Co. Ltd.		8,200		324,745
Symrise AG		3,690		307,395
Synthomer plc		37,452		176,570
T Hasegawa Co. Ltd.		900		13,290
Taiyo Holdings Co. Ltd.		900		27,332
Taiyo Nippon Sanso Corp.(a)		7,200		113,792
Tayca Corp.		8,100		131,291
Teijin Ltd.		8,200		141,501
Tenma Corp.		8,100		123,178
Tessenderlo Group SA*		779		27,665
Toagosei Co. Ltd.		6,900		80,203
Tokai Carbon Co. Ltd.(a)		11,000		150,198
Tokuyama Corp.		10,800		251,269
Tokyo Ohka Kogyo Co. Ltd.		700		19,650
Toray Industries, Inc.		60,700		450,049
Tosoh Corp.		13,800		195,657
Toyo Ink SC Holdings Co. Ltd.		1,600		36,225
Ube Industries Ltd.		9,400		211,960
Umicore SA		5,740		242,707
Victrex plc		3,740		112,466
Wacker Chemie AG		1,924		203,461
Yara International ASA		6,396		264,314
Zeon Corp.		8,000		81,889

				29,414,284

Commercial Services & Supplies - 0.8%
Babcock International Group plc		12,240		85,465
Bell System24 Holdings, Inc.(a)		5,600		74,457
Biffa plc(b)		52,800		123,909
Bilfinger SE		4,914		156,978
Boyd Group Income Fund		300		27,092
Brambles Ltd.		65,822		510,657
Bravida Holding AB(b)		12,702		93,083
CITIC Envirotech Ltd.		200,000		64,701
Cleanaway Waste Management Ltd.		120,181		158,172
Coor Service Management Holding AB(b)		16,960		131,035
Dai Nippon Printing Co. Ltd.		3,900		90,163
Daiseki Co. Ltd.		2,500		58,922
Derichebourg SA		25,026		114,405
Downer EDI Ltd.		46,412		241,965


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Commercial Services & Supplies - (continued)
Duskin Co. Ltd.		5,700		137,118
Edenred		5,823		236,796
Elis SA		7,862		127,470
Elis SA - XLON		4,520		73,285
G4S plc		129,068		332,010
HomeServe plc		11,489		142,593
Intrum AB(a)		8,200		234,020
ISS A/S		1,600		45,306
IWG plc		39,525		116,413
Kokuyo Co. Ltd.		5,600		81,816
Lassila & Tikanoja OYJ		960		16,810
Loomis AB, Class B		2,271		81,279
Mitie Group plc(a)		387,122		597,847
Mitsubishi Pencil Co. Ltd.		1,800		36,900
Nippon Kanzai Co. Ltd.		1,300		22,421
Okamura Corp.		17,400		223,995
Park24 Co. Ltd.		2,200		52,418
PayPoint plc		3,648		40,789
Pilot Corp.		500		24,396
Prestige International, Inc.		2,000		23,799
Realord Group Holdings Ltd.*		32,000		20,472
Relia, Inc.		2,100		18,273
Rentokil Initial plc		60,024		266,090
Ritchie Bros Auctioneers, Inc.		4,230		152,123
Sato Holdings Corp.		1,100		26,007
Secom Co. Ltd.		5,400		451,579
Securitas AB, Class B		7,047		113,137
Serco Group plc*		57,046		82,845
SmartGroup Corp. Ltd.		918		7,001
Societe BIC SA		1,992		200,115
Sohgo Security Services Co. Ltd.		2,900		126,307
Tomra Systems ASA		2,590		67,183
Toppan Printing Co. Ltd.		15,000		245,475
Transcontinental, Inc., Class A		57,482		916,088
Waste Connections, Inc.		9,430		787,329

				8,058,509

Communications Equipment - 0.2%
Nokia OYJ		188,108		1,188,872
Telefonaktiebolaget LM Ericsson, Class A		29,046		261,333
Telefonaktiebolaget LM Ericsson, Class B		74,795		664,348

				2,114,553

Construction & Engineering - 2.4%
ACS Actividades de Construccion y Servicios SA		17,544		726,724
Aecon Group, Inc.		294		4,090
AF Gruppen ASA		2,860		47,024
Arcadis NV(a)		56,006		727,470
Badger Daylighting Ltd.(a)		2,812		74,855
Balfour Beatty plc		31,842		114,769
Boskalis Westminster(a)		218		5,751
Bouygues SA		7,872		279,292
Chiyoda Corp.(a)		4,000		12,129
Cie d’Entreprises CFE		282		29,996
CIMIC Group Ltd.		5,661		184,963
COMSYS Holdings Corp.		4,300		112,014
Dai-Dan Co. Ltd.		24,700		524,503


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Construction & Engineering - (continued)
Eiffage SA		2,706		254,362
Elecnor SA		38,950		548,832
Electra Ltd.		984		232,022
Ferrovial SA		18,860		423,513
FLSmidth & Co. A/S		2,798		131,109
Fomento de Construcciones y Contratas SA*		3,420		50,702
Galliford Try plc(a)		77,858		726,146
Gold-Finance Holdings Ltd.*(b)		89,827		3,835
Hazama Ando Corp.		32,800		216,999
Hibiya Engineering Ltd.		18,000		282,165
HOCHTIEF AG		442		66,186
Hong Kong International Construction Investment Management Group Co. Ltd.		162,000		49,343
Implenia AG (Registered)		9,758		344,250
JGC Corp.		5,400		82,367
John Laing Group plc(a)(b)		413,690		1,931,869
Kajima Corp.		19,900		282,692
Kandenko Co. Ltd.		3,000		28,172
Kier Group plc		122,508		831,550
Kinden Corp.		7,500		123,220
Koninklijke BAM Groep NV(a)		237,226		850,096
Koninklijke Volkerwessels NV		14,514		249,478
Kumagai Gumi Co. Ltd.		6,500		203,666
Kyowa Exeo Corp.		3,900		95,681
Kyudenko Corp.		2,100		75,352
Maeda Corp.		8,100		79,936
Maeda Road Construction Co. Ltd.		3,000		58,357
Maire Tecnimont SpA(a)		78,064		313,869
Meisei Industrial Co. Ltd.		41,500		268,455
Mirait Holdings Corp.(a)		13,700		197,764
Monadelphous Group Ltd.(a)		9,080		97,788
NCC AB, Class B(a)		246		3,718
Nippo Corp.(a)		2,000		38,188
Nippon Densetsu Kogyo Co. Ltd.		1,700		37,271
Nishimatsu Construction Co. Ltd.		2,600		60,515
Obayashi Corp.		32,900		312,283
Okumura Corp.		3,000		94,689
Peab AB		3,999		33,284
Penta-Ocean Construction Co. Ltd.		17,100		100,089
Porr Ag(a)		6,880		157,731
Raito Kogyo Co. Ltd.(a)		41,100		501,146
RCR Tomlinson Ltd.(d)		28,512		18,087
Sacyr SA(a)		247,066		596,475
Sacyr SA*(d)		7,059		17,042
Salini Impregilo SpA(a)		223,204		491,742
Sanki Engineering Co. Ltd.		34,400		359,078
Shapir Engineering and Industry Ltd.		18,954		66,462
Shikun & Binui Ltd.*		131,446		240,045
Shimizu Corp.		31,200		265,184
Shinnihon Corp.		16,200		149,154
SHO-BOND Holdings Co. Ltd.		600		42,397
Skanska AB, Class B		19,711		344,557
SNC-Lavalin Group, Inc.		6,642		184,952
Sumitomo Densetsu Co. Ltd.		16,400		268,084
Sumitomo Mitsui Construction Co. Ltd.		141,040		899,401


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Construction & Engineering - (continued)
Sweco AB, Class B		3,381		69,360
Taihei Dengyo Kaisha Ltd.		16,600		370,652
Taikisha Ltd.(a)		4,500		119,622
Taisei Corp.		11,700		549,361
Takamatsu Construction Group Co. Ltd.		13,600		350,029
Toda Corp.(a)		25,000		160,112
Toenec Corp.		8,200		235,082
Tokyu Construction Co. Ltd.		66,400		617,447
Toshiba Plant Systems & Services Corp.		3,800		71,370
Totetsu Kogyo Co. Ltd.		1,800		48,444
Veidekke ASA(a)		14,056		153,350
Vinci SA		14,514		1,280,366
WSP Global, Inc.		1,210		62,135
YIT OYJ(a)		152,520		987,926
Yokogawa Bridge Holdings Corp.		27,600		501,634
Yurtec Corp.		33,000		278,967

				23,080,787

Construction Materials - 0.5%
Adelaide Brighton Ltd.		8,796		28,669
Boral Ltd.		6,400		23,099
Brickworks Ltd.(a)		9,360		112,405
Buzzi Unicem SpA(a)		5,653		108,131
Buzzi Unicem SpA (Retirement Savings Plan)		1,925		23,502
Cementir Holding SpA		58,498		399,385
CRH plc		30,586		881,132
CSR Ltd.		537,750		1,144,933
Fletcher Building Ltd.*		17,649		61,207
HeidelbergCement AG		9,266		641,764
Ibstock plc(b)		9,600		30,636
Imerys SA		33		1,742
James Hardie Industries plc, CHDI(a)		7,840		87,634
Krosaki Harima Corp.		2,700		141,909
LafargeHolcim Ltd. (Registered)*		16,892		793,946
Mitani Sekisan Co. Ltd.		8,300		195,164
Rhi Magnesita NV		2,800		157,054
Sumitomo Osaka Cement Co. Ltd.(a)		1,700		75,292
Taiheiyo Cement Corp.		8,300		283,709
Wienerberger AG		3,846		86,497

				5,277,810

Consumer Finance - 0.6%
Acom Co. Ltd.		57,400		200,950
AEON Financial Service Co. Ltd.		4,800		92,930
Aiful Corp.*		2,100		5,364
Allied Properties HK Ltd.		1,718,000		389,723
Amigo Holdings plc(a)(b)		24,080		76,989
B2Holding ASA(a)		335,764		568,409
Cembra Money Bank AG		3,198		276,251
Credit Corp. Group Ltd.(a)		6,029		96,625
Credit Saison Co. Ltd.		16,600		218,120
Eclipx Group Ltd.(a)		203,420		330,762
Hitachi Capital Corp.		9,700		220,596
Hoist Finance AB(a)(b)		51,824		251,179
Hong Leong Finance Ltd.		205,000		399,435


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Consumer Finance - (continued)
J Trust Co. Ltd.(a)		36,100		135,338
Jaccs Co. Ltd.		22,800		390,929
Provident Financial plc*(a)		232,716		1,609,000
Resurs Holding AB(b)		76,930		505,937
Sun Hung Kai & Co. Ltd.		105,996		50,116

				5,818,653

Containers & Packaging - 0.4%
Amcor Ltd.		25,338		252,186
BillerudKorsnas AB(a)		12,245		154,496
Cascades, Inc.		66,502		504,854
CCL Industries, Inc., Class B		2,960		124,864
DS Smith plc		48,790		216,418
FP Corp.(a)		600		34,016
Fuji Seal International, Inc.		2,000		66,434
Huhtamaki OYJ		2,051		67,473
Intertape Polymer Group, Inc.(a)		57,236		858,998
Mayr Melnhof Karton AG		275		36,288
Orora Ltd.		44,370		102,234
Pack Corp. (The)		1,200		31,767
Pact Group Holdings Ltd.(a)		120,607		333,295
Rengo Co. Ltd.		16,800		146,651
RPC Group plc		34,549		361,307
Smurfit Kappa Group plc		8,856		255,875
Toyo Seikan Group Holdings Ltd.		5,600		125,862
Vidrala SA		1,239		113,877
Winpak Ltd.		4,494		160,351

				3,947,246

Distributors - 0.2%
Arata Corp.(a)		11,700		469,269
Bapcor Ltd.(a)		25,156		113,173
Canon Marketing Japan, Inc.		3,700		71,600
Doshisha Co. Ltd.		1,800		27,588
Jardine Cycle & Carriage Ltd.		10,522		295,553
PALTAC Corp.		800		38,372
Uni-Select, Inc.		43,460		639,341

				1,654,896

Diversified Consumer Services - 0.2%
AA plc		450,405		494,607
AcadeMedia AB*(a)(b)		51,086		265,389
G8 Education Ltd.(a)		409,918		947,487
IDP Education Ltd.		6,853		56,714
InvoCare Ltd.(a)		4,344		38,643

				1,802,840

Diversified Financial Services - 1.1%
Ackermans & van Haaren NV		784		125,674
Aker ASA, Class A		760		53,412
AMP Ltd.		78,246		128,940
Banca Farmafactoring SpA(b)		58,056		341,076
Banca IFIS SpA		15,334		295,244
Banca Mediolanum SpA(a)		28,463		173,914
Banque Nationale de Belgique		122		340,173
Cerved Group SpA		10,505		92,695
Challenger Ltd.(a)		11,680		61,659
doBank SpA(a)(b)		26,076		356,059
ECN Capital Corp.		308,238		896,573
Element Fleet Management Corp.		37,474		202,022
Eurazeo SE		4,182		311,431
EXOR NV		5,248		336,017


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Diversified Financial Services - (continued)
FFP		1,130		119,030
First Pacific Co. Ltd.		320,000		138,249
Fuyo General Lease Co. Ltd.		700		34,862
GRENKE AG		495		45,553
Groupe Bruxelles Lambert SA		1,760		166,125
HAL Trust(a)		1,781		277,931
IBJ Leasing Co. Ltd.		30,238		695,727
Industrivarden AB, Class A		8,378		176,686
Industrivarden AB, Class C		250		5,144
Investor AB, Class A		2,092		91,845
Investor AB, Class B		18,040		791,808
Japan Securities Finance Co. Ltd.		41,000		224,534
KBC Ancora		1,377		61,621
Kinnevik AB, Class A		7,708		188,286
Kinnevik AB, Class B		3,760		91,680
L E Lundbergforetagen AB, Class B		1,348		41,570
Mitsubishi UFJ Lease & Finance Co. Ltd.		21,500		109,841
Onex Corp.		1,520		85,971
ORIX Corp.		67,100		1,011,155
Pargesa Holding SA		1,265		99,902
Plus500 Ltd.(a)		82,984		1,675,626
Ricoh Leasing Co. Ltd.		19,400		593,605
Sofina SA		330		65,584
SRH NV*‡(d)		2,857		—
Standard Life Aberdeen plc		85,690		283,662
Tokyo Century Corp.		600		28,007
Wendel SA		1,377		168,274
Zenkoku Hosho Co. Ltd.		1,600		55,940

				11,043,107

Diversified Telecommunication Services - 1.4%
BCE, Inc.		4,650		202,280
Bezeq The Israeli Telecommunication Corp. Ltd.		3,283		2,632
BT Group plc		435,256		1,330,624
Cellnex Telecom SA(a)(b)		8,534		240,794
Chorus Ltd.(a)		38,130		129,590
Deutsche Telekom AG (Registered)		96,760		1,575,477
Elisa OYJ		5,369		225,172
Euskaltel SA(b)		24,242		222,532
Gamma Communications plc		1,701		18,348
HKBN Ltd.		51,500		79,416
HKT Trust & HKT Ltd.		172,400		253,985
Iliad SA(a)		1,200		137,832
Infrastrutture Wireless Italiane SpA(b)		5,179		41,301
Inmarsat plc		3,680		17,887
Internet Initiative Japan, Inc.		2,300		54,082
Koninklijke KPN NV		163,862		505,219
Nippon Telegraph & Telephone Corp.		29,800		1,279,020
Orange SA		113,078		1,760,726
PCCW Ltd.		206,035		122,623
Proximus SADP		11,194		300,691
Singapore Telecommunications Ltd.		196,800		442,001
Spark New Zealand Ltd.		76,024		213,821


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Diversified Telecommunication Services - (continued)
SpeedCast International Ltd.(a)		65,120		138,173
Sunrise Communications Group AG*(a)(b)		2,863		241,686
Swisscom AG (Registered)		400		191,916
TalkTalk Telecom Group plc		124,951		183,433
Telecom Italia SpA*		319,704		178,286
Telecom Italia SpA (Retirement Savings Plan)		367,536		180,121
Telefonica Deutschland Holding AG		14,053		49,343
Telefonica SA		223,368		1,920,996
Telekom Austria AG*		1,426		10,930
Telenor ASA		23,370		442,236
Telia Co. AB		92,742		403,678
Telstra Corp. Ltd.		81,520		184,859
TELUS Corp.		8,610		301,707
United Internet AG (Registered)		5,988		237,665
Vocus Group Ltd.*(a)		70,640		173,579

				13,994,661

Electric Utilities - 1.4%
Acciona SA		1,497		142,744
Alpiq Holding AG (Registered)*(a)		1,915		148,629
AusNet Services(a)		147,818		177,839
BKW AG		1,400		98,639
Chubu Electric Power Co., Inc.		32,000		505,596
Chugoku Electric Power Co., Inc. (The)(a)		4,206		57,469
CK Infrastructure Holdings Ltd.		24,000		193,763
CLP Holdings Ltd.		63,500		735,210
Contact Energy Ltd.		20,140		84,373
EDP - Energias de Portugal SA		139,318		509,955
Electricite de France SA		14,693		243,282
Elia System Operator SA/NV		1,089		79,848
Emera, Inc.(a)		5,346		187,250
Endesa SA		14,596		365,445
Enel SpA		380,972		2,302,013
EVN AG		2,240		36,292
Fortis, Inc.		10,414		371,583
Fortum OYJ		11,398		259,219
Genesis Energy Ltd.		13,435		24,787
HK Electric Investments & HK Electric Investments Ltd.(a)(b)		174,000		177,178
Hokkaido Electric Power Co., Inc.(a)		10,100		69,882
Hokuriku Electric Power Co.*		15,000		131,765
Hydro One Ltd.(b)		15,088		236,551
Iberdrola SA		173,467		1,433,122
Iberdrola SA*(d)		3,760		31,064
Infratil Ltd.		37,798		98,837
Kansai Electric Power Co., Inc. (The)		45,100		685,431
Kyushu Electric Power Co., Inc.(a)		32,800		405,668
Mercury NZ Ltd.		17,270		42,284
Okinawa Electric Power Co., Inc. (The)		11,215		212,181
Orsted A/S(b)		5,740		413,724
Power Assets Holdings Ltd.		41,500		278,987
Red Electrica Corp. SA		10,377		239,332


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Electric Utilities - (continued)
Romande Energie Holding SA (Registered)		76		87,330
Shikoku Electric Power Co., Inc.(a)		8,600		108,577
Spark Infrastructure Group		1,230		2,161
SSE plc		61,910		952,842
Terna Rete Elettrica Nazionale SpA		58,384		359,885
Tohoku Electric Power Co., Inc.		13,400		181,244
Tokyo Electric Power Co. Holdings, Inc.*		59,815		367,695
Trustpower Ltd.		25,928		112,038
Verbund AG		3,625		185,597

				13,337,311

Electrical Equipment - 1.1%
ABB Ltd. (Registered)		50,922		972,913
Daihen Corp.		16,600		371,414
Fagerhult AB(a)		3,005		24,446
Fuji Electric Co. Ltd.		4,800		147,753
Fujikura Ltd.		4,700		20,557
Furukawa Electric Co. Ltd.		11,200		334,467
Futaba Corp.		3,400		53,517
Huber + Suhner AG (Registered)		867		67,028
Johnson Electric Holdings Ltd.		40,500		92,079
Legrand SA		9,758		579,547
Mabuchi Motor Co. Ltd.		2,000		70,017
Melrose Industries plc		160,884		356,922
Mersen SA		4,800		157,522
Mitsubishi Electric Corp.		75,700		949,815
Nexans SA(a)		30,504		913,547
Nidec Corp.		7,755		928,491
Nippon Carbon Co. Ltd.(a)		8,300		328,324
Nissin Electric Co. Ltd.(a)		31,700		277,007
Nitto Kogyo Corp.(a)		8,200		147,906
Nordex SE*		21,484		245,286
OSRAM Licht AG		4,286		182,506
Prysmian SpA		9,662		207,653
Sanyo Denki Co. Ltd.		11,400		430,001
Schneider Electric SE		18,204		1,296,738
Siemens Gamesa Renewable Energy SA*		8,096		115,007
Signify NV(b)		10,165		252,755
Sinfonia Technology Co. Ltd.(a)		15,800		196,429
Somfy SA		275		21,773
TKH Group NV, CVA		2,194		106,138
Ushio, Inc.		5,900		67,062
Vestas Wind Systems A/S		7,626		630,529

				10,545,149

Electronic Equipment, Instruments & Components - 1.8%
accesso Technology Group plc*		3,760		70,729
Alps Alpine Co. Ltd.		11,748		246,877
ALSO Holding AG (Registered)*		1,120		145,179
Amano Corp.		2,600		54,064
Anritsu Corp.(a)		6,200		109,837
AT&S Austria Technologie & Systemtechnik AG(a)		26,650		550,432
Azbil Corp.		3,000		63,016
Barco NV(a)		440		53,921
Canon Electronics, Inc.		13,200		216,624
Carel Industries SpA*(b)		12,720		138,512


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Electronic Equipment, Instruments & Components - (continued)
Celestica, Inc.*		93,070		925,527
Citizen Watch Co. Ltd.		32,000		170,541
CMK Corp.(a)		57,400		368,145
Comet Holding AG (Registered)*(a)		1,120		99,853
CONEXIO Corp.		18,600		235,512
Daiwabo Holdings Co. Ltd.		16,400		878,545
Datalogic SpA		535		14,488
Dexerials Corp.(a)		38,200		309,587
Electrocomponents plc		24,158		172,494
Evertz Technologies Ltd.		1,712		21,066
FIH Mobile Ltd.*		1,791,000		194,011
Halma plc		17,466		321,659
Hamamatsu Photonics KK		3,400		121,529
Hexagon AB, Class B		7,134		348,213
Hirose Electric Co. Ltd.		782		83,783
Hitachi High-Technologies Corp.		1,700		61,233
Hitachi Ltd.		46,600		1,461,415
Horiba Ltd.		800		39,180
Hosiden Corp.		35,200		266,838
Inficon Holding AG (Registered)*		110		58,542
Ingenico Group SA		440		24,037
Iriso Electronics Co. Ltd.		1,200		49,012
Japan Aviation Electronics Industry Ltd.		2,044		26,557
Japan Display, Inc.*(a)		351,100		232,282
Jenoptik AG		2,585		83,646
Kaga Electronics Co. Ltd.		10,300		190,895
Keyence Corp.		2,700		1,385,849
Koa Corp.		8,100		115,289
Kyocera Corp.		11,800		662,916
Lagercrantz Group AB, Class B		1,944		21,208
Landis+Gyr Group AG*(a)		2,640		170,705
LEM Holding SA (Registered)		27		32,386
Macnica Fuji Electronics Holdings, Inc.(a)		32,400		422,453
Meiko Electronics Co. Ltd.		16,600		303,233
Murata Manufacturing Co. Ltd.		6,400		906,809
Mycronic AB		3,001		38,378
Nichicon Corp.(a)		71,500		566,324
Nippon Ceramic Co. Ltd.		900		20,815
Nippon Signal Co. Ltd.(a)		42,500		369,429
Nissha Co. Ltd.(a)		34,500		450,786
Nohmi Bosai Ltd.		10,100		170,019
Ohara, Inc.		8,100		121,913
Oki Electric Industry Co. Ltd.(a)		1,200		15,459
Omron Corp.		8,500		347,560
Optex Group Co. Ltd.(a)		1,000		17,532
Renishaw plc		1,617		99,335
Ryosan Co. Ltd.		18,000		502,803
Sanshin Electronics Co. Ltd.(a)		8,100		125,039
Shimadzu Corp.		7,000		160,480
Siix Corp.(a)		2,028		28,418
Smart Metering Systems plc(a)		19,920		172,159
Spectris plc		3,026		103,534
Taiyo Yuden Co. Ltd.(a)		2,500		43,738
Tamura Corp.		91,300		505,032
TDK Corp.		4,300		338,611
Topcon Corp.(a)		2,200		29,554


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Electronic Equipment, Instruments & Components - (continued)
V Technology Co. Ltd.(a)		2,200		312,120
Venture Corp. Ltd.		18,100		218,872
VSTECS Holdings Ltd.		660,000		318,784
Yaskawa Electric Corp.		14,700		413,324
Yokogawa Electric Corp.		8,000		148,635

				18,067,282

Energy Equipment & Services - 0.6%
Aker Solutions ASA*(b)		7,535		41,130
Borr Drilling Ltd.*		46,640		119,597
BW Offshore Ltd.*		84,050		400,119
CES Energy Solutions Corp.(a)		31,144		78,732
CGG SA*		546,038		1,028,797
Enerflex Ltd.		77,309		1,021,918
Ensign Energy Services, Inc.		154,816		594,131
Hunting plc		21,556		158,367
John Wood Group plc		6,800		48,411
Modec, Inc.		8,100		181,232
Northern Drilling Ltd.*		16,960		109,127
Ocean Yield ASA(a)		34,956		251,064
Odfjell Drilling Ltd.*(a)		40,528		119,320
Pason Systems, Inc.		2,356		37,081
Petrofac Ltd.		42,312		306,126
Petroleum Geo-Services ASA*		62,000		139,810
Saipem SpA*		41,391		197,148
SBM Offshore NV		9,020		149,247
Secure Energy Services, Inc.		18,144		112,183
Subsea 7 SA		17,002		193,242
TechnipFMC plc		17,056		391,606
Tecnicas Reunidas SA(a)		8,856		226,913
Tenaris SA		6,336		79,718
TGS NOPEC Geophysical Co. ASA		1,140		33,848
WorleyParsons Ltd.(a)		15,811		160,017

				6,178,884

Entertainment - 0.6%
Avex, Inc.		32,800		440,930
Capcom Co. Ltd.		2,600		55,665
Cineplex, Inc.		6,480		140,327
Cineworld Group plc(a)		76,731		263,442
CTS Eventim AG & Co. KGaA		1,375		58,503
Daiichikosho Co. Ltd.		1,100		51,953
DeNA Co. Ltd.		4,000		70,569
Entertainment One Ltd.		66,010		342,295
EVENT Hospitality and Entertainment Ltd.(a)		2,282		22,496
IGG, Inc.		813,000		1,235,036
Kinepolis Group NV		1,030		61,221
Koei Tecmo Holdings Co. Ltd.		1,728		28,930
Konami Holdings Corp.		2,200		101,277
Nexon Co. Ltd.*		9,800		149,661
Nintendo Co. Ltd.		3,300		1,025,811
Paradox Interactive AB(a)		952		15,637
Shochiku Co. Ltd.(a)		300		30,102
Square Enix Holdings Co. Ltd.		1,800		59,542
Toei Animation Co. Ltd.		900		38,868
Toei Co. Ltd.		2,000		245,704
Toho Co. Ltd.		4,100		149,375
Ubisoft Entertainment SA*		2,066		183,724


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Entertainment - (continued)
Vivendi SA		28,782		734,496

				5,505,564

Equity Real Estate Investment Trusts (REITs) - 2.5%
Abacus Property Group(a)		55,680		149,405
Activia Properties, Inc.		15		64,987
Advance Residence Investment Corp.(a)		41		121,308
Aedifica SA		1,145		110,230
AEON REIT Investment Corp.		29		33,948
ALE Property Group(a)		9,405		32,574
Allied Properties REIT		6,365		228,758
alstria office REIT-AG		6,756		101,864
Altarea SCA		120		24,895
Argosy Property Ltd.		64,665		53,598
Artis REIT		78,474		610,081
Ascendas REIT		123,000		250,638
Ascott Residence Trust		55,364		48,996
Assura plc		23,120		18,187
Aventus Retail Property Fund Ltd.		302,032		466,880
Befimmo SA		657		39,503
Big Yellow Group plc		18,267		230,321
British Land Co. plc (The)		16,528		124,667
BWP Trust		52,734		139,962
Canadian Apartment Properties REIT		5,068		180,600
CapitaLand Mall Trust		10,900		19,455
CapitaLand Retail China Trust		95,662		106,714
CDL Hospitality Trusts		36,800		45,704
Champion REIT		132,000		100,093
Charter Hall Education Trust(a)		52,383		119,169
Charter Hall Group		16,271		97,641
Charter Hall Long Wale REIT		86,319		274,416
Charter Hall Retail REIT		45,600		151,284
Choice Properties REIT		15,440		150,603
Cofinimmo SA		491		65,072
Comforia Residential REIT, Inc.		34		90,194
Covivio		4,583		469,608
Cromwell Property Group		213,520		165,029
Daiwa House REIT Investment Corp.		42		98,873
Derwent London plc		7,628		325,009
Dexus		41,984		351,433
Dream Global REIT		25,584		252,665
Dream Office REIT		7,025		125,758
ESR-REIT		1,443,200		563,477
Far East Hospitality Trust		53,300		26,360
First REIT		26,713		21,654
Fortune REIT		48,000		59,276
Frasers Centrepoint Trust		25,000		42,576
Frasers Commercial Trust		23,385		25,913
Frasers Hospitality Trust		39,200		21,427
Frasers Logistics & Industrial Trust(b)		125,180		100,542
Frontier Real Estate Investment Corp.		12		49,067
Fukuoka REIT Corp.		26		40,614
GDI Property Group(a)		242,064		240,041
Gecina SA		1,886		277,436


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Equity Real Estate Investment Trusts (REITs) - (continued)
Global One Real Estate Investment Corp.		48		54,426
GLP J-Reit		74		78,671
Goodman Group		56,006		476,157
Goodman Property Trust		19,085		21,114
GPT Group (The)		77,162		326,323
Granite REIT		2,800		127,005
Great Portland Estates plc		1		8
Growthpoint Properties Australia Ltd.(a)		19,121		53,259
Hamborner REIT AG		6,058		63,743
Hammerson plc		2,839		13,889
Hankyu Hanshin REIT, Inc.		26		34,044
Heiwa Real Estate REIT, Inc.		73		82,840
Hibernia REIT plc		141,286		213,024
Hoshino Resorts REIT, Inc.		24		118,203
Hulic Reit, Inc.(a)		23		37,808
ICADE		2,467		208,344
Ichigo Office REIT Investment(a)		184		171,269
Immobiliare Grande Distribuzione SIIQ SpA		15,018		106,531
Industrial & Infrastructure Fund Investment Corp.		94		100,452
Inmobiliaria Colonial Socimi SA		12,081		123,791
InterRent REIT		1,944		19,865
Intu Properties plc(a)		103,200		156,932
Invesco Office J-Reit, Inc.(a)		6,902		1,040,088
Invincible Investment Corp.		121		52,645
Japan Hotel REIT Investment Corp.		77		59,078
Japan Logistics Fund, Inc.		19		40,154
Japan Prime Realty Investment Corp.		25		101,879
Japan Real Estate Investment Corp.		10		58,624
Japan Rental Housing Investments, Inc.		26		20,450
Japan Retail Fund Investment Corp.		52		106,551
Kenedix Office Investment Corp.		9		61,775
Kenedix Residential Next Investment Corp.		34		56,266
Kenedix Retail REIT Corp.		31		73,804
Keppel DC REIT		139,440		149,328
Keppel REIT		80,733		70,847
Killam Apartment REIT		9,680		123,460
Kiwi Property Group Ltd.		3,973		3,913
Klepierre SA		3,280		112,759
Land Securities Group plc		6,075		69,141
LaSalle Logiport REIT		129		128,846
Link REIT		60,801		666,380
LondonMetric Property plc		98,390		242,935
Mapletree Commercial Trust		32,090		42,002
Mapletree Industrial Trust		32,742		48,700
Mapletree Logistics Trust		72,123		73,483
Mapletree North Asia Commercial Trust(b)		49,500		47,120
MCUBS MidCity Investment Corp.		100		84,444
Merlin Properties Socimi SA		24,108		323,930
Mirai Corp.		332		582,670
Mirvac Group(a)		147,354		257,864


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Equity Real Estate Investment Trusts (REITs) - (continued)
Mitsui Fudosan Logistics Park, Inc.(a)		201		638,110
Mori Hills REIT Investment Corp.		58		77,010
National Storage REIT(a)		70,798		92,662
Nippon Accommodations Fund, Inc.		8		42,562
Nippon Building Fund, Inc.		40		258,752
Nippon Prologis REIT, Inc.		41		89,474
NIPPON REIT Investment Corp.		33		116,893
Nomura Real Estate Master Fund, Inc.		159		227,769
Northview Apartment REIT(a)		22,632		459,774
NorthWest Healthcare Properties REIT		39,442		320,750
One REIT, Inc.		14		35,582
Orix JREIT, Inc.		134		234,312
OUE Hospitality Trust		60,500		33,070
Parkway Life REIT		12,500		26,680
Precinct Properties New Zealand Ltd.		22,735		23,575
Premier Investment Corp.		90		109,905
Primary Health Properties plc		109,786		166,370
Property for Industry Ltd.		51,499		65,546
RDI REIT plc		1,405,562		574,098
Regal REIT		697,000		210,520
Reit 1 Ltd.		136,202		562,690
Retail Estates NV		666		59,226
Safestore Holdings plc		12,195		92,562
Scentre Group		132,184		382,636
Secure Income REIT plc		14,030		73,638
Segro plc		47,448		403,828
Sekisui House Reit, Inc.		55		38,510
Shaftesbury plc		4,480		51,978
Shopping Centres Australasia Property Group(a)		103,252		187,463
Societe Fonciere Lyonnaise SA		972		69,150
SPH REIT		44,800		34,317
Star Asia Investment Corp.		78		76,043
Starhill Global REIT		72,900		38,764
Stockland		61,560		169,671
Sunlight REIT		55,000		38,271
Suntec REIT		152,400		218,742
Terreis		968		43,541
Tokyu REIT, Inc.(a)		40		61,711
Tritax Big Box REIT plc		108,548		199,477
Unibail-Rodamco-Westfield		4,756		857,665
Unibail-Rodamco-Westfield, CHDI*		5		45
UNITE Group plc (The)		9,133		109,388
United Urban Investment Corp.		84		134,070
Vicinity Centres		4,212		8,016
Vital Healthcare Property Trust(a)		43,976		64,054
Viva Energy REIT(a)		398,766		657,118
Warehouses De Pauw CVA, CVA		851		124,599
Wereldhave NV		37,966		1,218,923
Workspace Group plc		8,954		111,896

				24,686,745


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food & Staples Retailing - 1.2%
Aeon Co. Ltd.		34,213		694,288
Ain Holdings, Inc.		800		58,513
Alimentation Couche-Tard, Inc., Class B		11,562		628,414
Arcs Co. Ltd.		2,818		62,870
Axfood AB(a)		3,184		55,746
Axial Retailing, Inc.		1,100		34,921
Belc Co. Ltd.		800		34,917
Carrefour SA		6,952		137,884
Casino Guichard Perrachon SA(a)		3,920		193,459
Cawachi Ltd.		800		15,679
cocokara fine, Inc.(a)		3,500		162,088
Colruyt SA		1,990		143,262
Cosmos Pharmaceutical Corp.		100		19,131
Create SD Holdings Co. Ltd.		2,000		50,243
Daikokutenbussan Co. Ltd.		400		15,051
Dairy Farm International Holdings Ltd.		7,600		68,628
Empire Co. Ltd., Class A		1,666		37,473
FamilyMart UNY Holdings Co. Ltd.(a)		2,737		319,899
George Weston Ltd.		1,920		139,530
Heiwado Co. Ltd.		1,200		27,808
ICA Gruppen AB(a)		4,604		161,825
Inageya Co. Ltd.(a)		2,398		28,226
Itochu-Shokuhin Co. Ltd.		400		16,907
J Sainsbury plc		108,486		407,003
Kato Sangyo Co. Ltd.		1,400		40,843
Kesko OYJ, Class A		562		29,793
Kesko OYJ, Class B		2,318		133,575
Kobe Bussan Co. Ltd.		800		24,773
Koninklijke Ahold Delhaize NV		66,338		1,752,272
Kusuri no Aoki Holdings Co. Ltd.		600		39,750
Loblaw Cos. Ltd.		4,920		238,376
MARR SpA(a)		1,155		27,699
Matsumotokiyoshi Holdings Co. Ltd.(a)		3,600		110,815
Maxvalu Nishinihon Co. Ltd.		4,400		74,836
Metcash Ltd.(a)		123,902		224,051
METRO AG		13,448		227,837
Metro, Inc.(a)		10,969		398,987
Ministop Co. Ltd.		1,000		17,964
North West Co., Inc. (The)		95		2,255
Olam International Ltd.		35,100		48,291
Qol Holdings Co. Ltd.		1,500		23,417
Rallye SA		30,795		355,124
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd.		243		13,203
Retail Partners Co. Ltd.		16,400		168,325
Seven & i Holdings Co. Ltd.		24,900		1,084,270
Sheng Siong Group Ltd.		51,500		42,513
Shufersal Ltd.		3,578		25,211
Sligro Food Group NV		1,155		43,602
Sogo Medical Holdings Co. Ltd.		2,000		33,796
Sonae SGPS SA		76,391		79,897
Sugi Holdings Co. Ltd.		800		33,226
Sundrug Co. Ltd.		1,600		51,089
Tesco plc		259,694		762,142


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food & Staples Retailing - (continued)
Tsuruha Holdings, Inc.		900		83,029
United Super Markets Holdings, Inc.		2,000		21,410
Valor Holdings Co. Ltd.		10,600		257,038
Welcia Holdings Co. Ltd.		1,800		68,143
Wm Morrison Supermarkets plc		104,222		321,154
Woolworths Group Ltd.		35,916		769,146
Yaoko Co. Ltd.		1,800		94,275
Yokohama Reito Co. Ltd.		30,600		259,803

				11,495,695

Food Products - 2.5%
a2 Milk Co. Ltd.*(a)		46,375		406,896
AAK AB		5,004		71,903
Agrana Beteiligungs AG		2,268		47,520
Ajinomoto Co., Inc.		22,500		388,886
Ariake Japan Co. Ltd.		800		48,296
Aryzta AG*(a)		806,634		906,965
Associated British Foods plc		5,184		162,845
Austevoll Seafood ASA		8,913		113,641
Bakkafrost P/F		2,188		113,770
Bakkavor Group plc(b)		72,800		141,732
Barry Callebaut AG (Registered)		38		64,731
Bega Cheese Ltd.(a)		7,095		26,229
Bell Food Group AG (Registered)		320		100,474
Bellamy’s Australia Ltd.*(a)		1,296		8,221
Bonduelle SCA		3,725		134,425
Bourbon Corp.		8,100		138,064
Calbee, Inc.(a)		3,200		102,619
Chocoladefabriken Lindt & Spruengli AG		43		274,141
Chocoladefabriken Lindt & Spruengli AG (Registered)		6		441,488
Costa Group Holdings Ltd.		13,860		55,886
Cranswick plc		2,274		86,270
Dairy Crest Group plc		80		509
Danone SA		17,550		1,278,747
DyDo Group Holdings, Inc.		500		24,028
Ebro Foods SA		4,297		88,701
Elders Ltd.(a)		74,374		339,479
Emmi AG (Registered)*		41		34,673
First Resources Ltd.		24,300		30,902
ForFarmers NV		16,757		163,244
Freedom Foods Group Ltd.		4,139		15,301
Fuji Oil Holdings, Inc.		3,400		107,314
Fujicco Co. Ltd.		2,000		42,635
Fujiya Co. Ltd.		400		8,229
Glanbia plc		5,838		111,870
GrainCorp Ltd., Class A		10,837		75,067
Greencore Group plc		27,840		70,681
Grieg Seafood ASA		8,400		108,297
House Foods Group, Inc.(a)		2,400		83,249
Inghams Group Ltd.(a)		43,760		146,775
Itoham Yonekyu Holdings, Inc.(a)		6,500		41,271
Japfa Ltd.		182,200		112,465
Kagome Co. Ltd.		900		23,941
Kameda Seika Co. Ltd.		900		40,811
Kerry Group plc, Class A		5,084		520,652
Kikkoman Corp.		4,000		212,074


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food Products - (continued)
Kotobuki Spirits Co. Ltd.(a)		1,000		37,352
LDC SA(a)		1,458		199,085
Leroy Seafood Group ASA		18,318		146,005
Lotus Bakeries		13		34,756
Maple Leaf Foods, Inc.		1,946		43,356
Maruha Nichiro Corp.		4,400		149,591
MEIJI Holdings Co. Ltd.		3,800		293,651
Mitsui Sugar Co. Ltd.		12,000		325,388
Morinaga & Co. Ltd.		1,100		45,079
Morinaga Milk Industry Co. Ltd.(a)		1,200		34,733
MOWI ASA		19,581		431,440
Nestle SA (Registered)		94,464		8,230,489
NH Foods Ltd.		8,300		327,943
Nichirei Corp.		3,500		94,422
Nippon Flour Mills Co. Ltd.		7,000		117,321
Nippon Suisan Kaisha Ltd.(a)		45,000		277,038
Nisshin Oillio Group Ltd. (The)		1,100		31,485
Nisshin Seifun Group, Inc.(a)		7,090		142,738
Nissin Foods Holdings Co. Ltd.		1,500		95,240
Norway Royal Salmon ASA(a)		5,200		125,625
Origin Enterprises plc		109,224		718,136
Orkla ASA		25,692		207,098
Premium Brands Holdings Corp.		1,100		64,837
Prima Meat Packers Ltd.		30,500		576,482
Riken Vitamin Co. Ltd.		17,300		537,297
S Foods, Inc.		4,500		162,294
Sakata Seed Corp.		2,800		92,236
Salmar ASA		3,824		200,200
Saputo, Inc.		4,455		130,668
Savencia SA		3,198		212,834
Schouw & Co. A/S(a)		1,160		93,949
Showa Sangyo Co. Ltd.		6,800		178,701
Starzen Co. Ltd.		9,400		320,877
Strauss Group Ltd.		952		23,126
Suedzucker AG		8,802		143,216
Synlait Milk Ltd.*		26,640		170,732
Tassal Group Ltd.(a)		37,680		119,788
Tate & Lyle plc		1,134		10,260
Toyo Suisan Kaisha Ltd.		2,800		100,469
United International Enterprises		1,066		217,889
Vilmorin & Cie SA(a)		6,854		445,924
Viscofan SA		825		46,045
Vitasoy International Holdings Ltd.		16,000		65,046
Wessanen(a)		9,410		96,638
WH Group Ltd.(b)		545,000		466,744
Wilmar International Ltd.		139,400		345,221
Yakult Honsha Co. Ltd.		4,300		285,666
Yamazaki Baking Co. Ltd.		2,900		56,758

				24,787,785

Gas Utilities - 0.3%
AltaGas Ltd.(a)		5,723		58,611
APA Group		30,422		203,633
Hong Kong & China Gas Co. Ltd.		254,317		551,630
Italgas SpA		28,609		173,263
Naturgy Energy Group SA		14,432		403,236
Nippon Gas Co. Ltd.(a)		2,000		73,234
Osaka Gas Co. Ltd.		11,700		230,818
Rubis SCA		4,137		247,081


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Gas Utilities - (continued)
Saibu Gas Co. Ltd.		28,200		630,957
Shizuoka Gas Co. Ltd.(a)		17,600		142,475
Superior Plus Corp.		18,859		155,950
Toho Gas Co. Ltd.		2,000		85,546
Tokyo Gas Co. Ltd.		7,700		202,246

				3,158,680

Health Care Equipment & Supplies - 0.8%
Ambu A/S, Class B(a)		8,984		238,307
Ansell Ltd.		6,098		104,134
Arjo AB, Class B		4,131		14,680
Asahi Intecc Co. Ltd.		5,600		242,874
BioMerieux		825		58,408
Carl Zeiss Meditec AG		715		64,937
Cochlear Ltd.		1,232		173,752
Coloplast A/S, Class B		4,018		367,535
CYBERDYNE, Inc.*(a)		24,300		154,736
DiaSorin SpA		869		79,721
Draegerwerk AG & Co. KGaA		5,822		281,581
Draegerwerk AG & Co. KGaA (Preference)		3,594		199,846
Eiken Chemical Co. Ltd.		1,600		36,181
Elekta AB, Class B		6,069		81,101
Fisher & Paykel Healthcare Corp. Ltd.		12,815		111,639
Fukuda Denshi Co. Ltd.		3,563		240,633
GN Store Nord A/S		3,824		165,022
Hogy Medical Co. Ltd.		1,200		40,081
Hoya Corp.		11,000		636,571
Koninklijke Philips NV		29,520		1,163,867
Mani, Inc.(a)		1,300		56,799
Menicon Co. Ltd.		1,600		39,754
Nagaileben Co. Ltd.		1,500		30,074
Nakanishi, Inc.		5,100		87,726
Nanosonics Ltd.*(a)		26,752		65,151
Nihon Kohden Corp.		2,300		72,172
Nikkiso Co. Ltd.		25,700		238,273
Nipro Corp.(a)		5,200		69,664
Olympus Corp.		9,300		381,981
Paramount Bed Holdings Co. Ltd.		800		33,520
Sartorius AG (Preference)		1,434		215,388
Sectra AB, Class B*		1,654		40,229
Siemens Healthineers AG*(b)		3,645		143,981
Smith & Nephew plc		28,782		543,309
Sonova Holding AG (Registered)		1,558		292,410
Straumann Holding AG (Registered)		219		159,046
Sysmex Corp.		4,200		233,368
Terumo Corp.		9,700		553,318
William Demant Holding A/S*		2,796		88,346
Ypsomed Holding AG (Registered)*(a)		81		9,397

				7,809,512

Health Care Providers & Services - 0.5%
Alfresa Holdings Corp.		12,500		344,230
Ambea AB(b)		10,800		98,005
Amplifon SpA		3,837		68,859
As One Corp.		700		49,077


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Health Care Providers & Services - (continued)
Australian Pharmaceutical Industries Ltd.(a)		257,644		236,705
BML, Inc.		3,300		90,968
Chartwell Retirement Residences		14,947		167,077
CVS Group plc(a)		14,160		74,954
EBOS Group Ltd.		1,980		29,787
Fagron		8,568		156,417
Fresenius Medical Care AG & Co. KGaA		5,084		375,453
Fresenius SE & Co. KGaA		10,578		549,839
Healius Ltd.(a)		52,880		112,202
Healthscope Ltd.		71,257		122,619
Japan Lifeline Co. Ltd.(a)		3,000		45,456
Korian SA(a)		4,471		159,448
Mediclinic International plc(a)		34,000		140,616
Medipal Holdings Corp.		7,100		163,751
Metlifecare Ltd.		61,992		222,298
NichiiGakkan Co. Ltd.		9,200		81,408
NMC Health plc		1,466		49,677
Orpea		1,118		111,223
Raffles Medical Group Ltd.		4,037		3,332
Ramsay Health Care Ltd.		2,640		109,183
RHOEN-KLINIKUM AG		579		15,134
Ryman Healthcare Ltd.(a)		13,156		95,630
Ship Healthcare Holdings, Inc.		3,300		124,474
Sienna Senior Living, Inc.		2,835		37,302
Sonic Healthcare Ltd.		17,637		296,038
Summerset Group Holdings Ltd.		11,425		48,418
Suzuken Co. Ltd.		3,380		177,028
Toho Holdings Co. Ltd.		4,200		102,771
Town Health International Medical Group Ltd.*(d)		398,000		34,998
UDG Healthcare plc		11,405		87,016
Vital KSK Holdings, Inc.(a)		33,200		337,400

				4,918,793

Health Care Technology - 0.0%(e)
CompuGroup Medical SE		624		31,089
M3, Inc.		10,000		143,802

				174,891

Hotels, Restaurants & Leisure - 2.0%
Accor SA		7,790		339,936
Aeon Fantasy Co. Ltd.		500		11,872
Arcland Service Holdings Co. Ltd.		1,400		25,754
Ardent Leisure Group Ltd.		43,861		43,335
Aristocrat Leisure Ltd.		16,646		298,945
Atom Corp.		5,800		52,761
Autogrill SpA		6,257		56,360
Basic-Fit NV*(b)		3,008		92,156
Carnival plc		7,954		450,750
Cherry AB, Class B*		5,700		53,930
Cie des Alpes		7,380		205,777
Codere SA*		13,520		62,287
Colowide Co. Ltd.(a)		3,500		75,930
Compass Group plc		45,510		976,117
Corporate Travel Management Ltd.(a)		3,366		57,554
Create Restaurants Holdings, Inc.		2,200		24,581
Crown Resorts Ltd.		11,014		95,969


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Hotels, Restaurants & Leisure - (continued)
Dalata Hotel Group plc		16,255		106,502
Domino’s Pizza Enterprises Ltd.		1,460		48,437
Domino’s Pizza Group plc		15,345		53,451
Doutor Nichires Holdings Co. Ltd.		2,700		51,603
EI Group plc*		432,632		1,146,748
Evolution Gaming Group AB(b)		1,265		75,783
Flight Centre Travel Group Ltd.(a)		3,119		97,860
Fuji Kyuko Co. Ltd.(a)		1,000		30,460
Galaxy Entertainment Group Ltd.		67,000		461,086
Genting Hong Kong Ltd.		1,992,000		375,720
Genting Singapore Ltd.		144,000		117,800
GL Ltd.		310,200		167,252
Great Canadian Gaming Corp.*		2,860		116,944
Greene King plc(a)		257,316		2,030,918
Greggs plc		8,343		170,109
GVC Holdings plc		19,520		172,553
Hiday Hidaka Corp.		1,992		39,115
HIS Co. Ltd.(a)		800		30,175
Ichibanya Co. Ltd.(a)		1,000		40,706
InterContinental Hotels Group plc		6,232		355,829
J D Wetherspoon plc		3,795		60,604
Kindred Group plc, SDR		4,675		47,963
Kisoji Co. Ltd.		1,700		38,177
KOMEDA Holdings Co. Ltd.		1,200		22,935
Kyoritsu Maintenance Co. Ltd.		1,600		72,848
LeoVegas AB(a)(b)		23,920		95,127
Macau Legend Development Ltd.		456,000		79,034
Mandarin Oriental International Ltd.		8,000		15,440
Marston’s plc(a)		656,082		813,850
McDonald’s Holdings Co. Japan Ltd.		1,100		48,668
Melco International Development Ltd.		21,000		48,762
Merlin Entertainments plc(b)		6,309		28,060
MGM China Holdings Ltd.(a)		32,400		62,267
Millennium & Copthorne Hotels plc		22,400		142,910
Miramar Hotel & Investment		246,000		500,985
Mitchells & Butlers plc*		216,562		806,770
MOS Food Services, Inc.		2,100		52,659
NagaCorp Ltd.		244,000		299,453
NetEnt AB*		4,549		21,968
Ohsho Food Service Corp.		1,504		100,608
Oriental Land Co. Ltd.		8,200		838,611
Paddy Power Betfair plc - SGMX		2,728		224,822
Paddy Power Betfair plc - XDUB		405		33,204
Pandox AB		5,720		99,514
Parques Reunidos Servicios Centrales SAU(b)		600		7,229
Playtech plc		289,296		1,473,507
Plenus Co. Ltd.		1,000		16,870
Radisson Hospitality AB*		49,714		232,985
Rank Group plc		58,239		121,657
Restaurant Brands International, Inc.		4,086		256,242
Restaurant Brands International, Inc.*		3,458		216,859


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Hotels, Restaurants & Leisure - (continued)
Restaurant Brands New Zealand Ltd.		6,220		36,886
Ringer Hut Co. Ltd.(a)		1,700		36,381
Round One Corp.		10,800		122,657
Royal Holdings Co. Ltd.(a)		1,600		38,975
Saizeriya Co. Ltd.(a)		9,400		178,188
Sands China Ltd.		70,800		336,554
Scandic Hotels Group AB(b)		65,108		621,053
Shangri-La Asia Ltd.		32,000		41,516
SJM Holdings Ltd.		76,000		79,616
SkiStar AB		2,828		34,290
Skylark Holdings Co. Ltd.		3,700		61,536
Sodexo SA(a)		3,369		351,784
SSP Group plc		26,750		234,565
St Marc Holdings Co. Ltd.		1,400		31,839
Star Entertainment Grp Ltd. (The)		38,963		126,140
Stars Group, Inc. (The)*		6,337		114,793
Tabcorp Holdings Ltd.		39,123		132,648
Thomas Cook Group plc		449,179		204,796
Tokyo Dome Corp.(a)		7,000		58,725
Toridoll Holdings Corp.(a)		1,600		29,110
Tosho Co. Ltd.		800		24,405
TUI AG, DI		30,094		456,836
Whitbread plc		5,084		326,830
William Hill plc		1,450		3,361
Wynn Macau Ltd.		50,400		122,295
Yoshinoya Holdings Co. Ltd.(a)		4,900		77,442
Zensho Holdings Co. Ltd.(a)		3,600		83,029

				19,459,903

Household Durables - 1.8%
Bang & Olufsen A/S*		1,701		25,096
Barratt Developments plc		71,668		507,769
Bellway plc		5,360		200,031
Berkeley Group Holdings plc		5,166		255,039
Bonava AB, Class B(a)		84,132		1,052,667
Bovis Homes Group plc		107,912		1,439,402
Breville Group Ltd.		4,514		36,139
Cairn Homes plc*		123,064		183,573
Casio Computer Co. Ltd.		10,000		132,960
Clarion Co. Ltd.		2,600		59,631
Countryside Properties plc(a)(b)		419,758		1,697,373
Crest Nicholson Holdings plc(a)		246,000		1,221,269
De’ Longhi SpA		4,522		113,115
Electrolux AB, Series B		23,653		558,694
ES-Con Japan Ltd.(a)		33,200		251,372
Fiskars OYJ Abp		574		10,828
Forbo Holding AG (Registered)		81		113,078
Foster Electric Co. Ltd.(a)		3,437		52,583
Fujitsu General Ltd.(a)		2,100		26,957
Haseko Corp.		18,700		207,052
Husqvarna AB, Class B		10,433		79,569
Iida Group Holdings Co. Ltd.		15,400		280,322
JM AB(a)		1,842		37,157
Kaufman & Broad SA		13,448		543,785
Man Wah Holdings Ltd.(a)		30,400		14,296
McCarthy & Stone plc(b)		524,390		926,413
Nagawa Co. Ltd.(a)		500		24,717
Neinor Homes SA*(b)		10,080		144,810


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Household Durables - (continued)
Nikon Corp.		16,800		287,744
Nobia AB		99,466		576,638
Panasonic Corp.		65,700		641,123
Persimmon plc		12,628		394,523
Pressance Corp.		21,400		291,416
Redrow plc		24,592		187,789
Rinnai Corp.		100		6,616
Sangetsu Corp.		2,256		41,273
SEB SA		560		86,105
Sekisui Chemical Co. Ltd.		20,500		318,717
Sekisui House Ltd.(a)		28,000		418,340
Sharp Corp.		16,200		171,631
Sony Corp.		41,000		2,059,607
Starts Corp., Inc.		5,200		116,538
Sumitomo Forestry Co. Ltd.(a)		7,800		101,702
Tamron Co. Ltd.		6,800		107,095
Taylor Wimpey plc		96,480		209,599
Techtronic Industries Co. Ltd.		93,000		538,679
Token Corp.		8,410		495,342
TomTom NV*		19,325		173,848
Zojirushi Corp.(a)		14,600		152,802

				17,572,824

Household Products - 0.4%
Earth Corp.(a)		600		28,613
Essity AB, Class A		7,721		212,072
Essity AB, Class B		11,316		312,942
Henkel AG & Co. KGaA		6,150		564,898
Henkel AG & Co. KGaA (Preference)		4,100		399,322
Lion Corp.		7,900		164,272
Pigeon Corp.(a)		2,400		93,504
PZ Cussons plc		54,000		127,080
Reckitt Benckiser Group plc		21,402		1,650,626
Unicharm Corp.		17,200		530,082

				4,083,411

Independent Power and Renewable Electricity Producers - 0.3%
Boralex, Inc., Class A		2,081		29,615
China Smarter Energy Group Holdings Ltd.*		162,000		12,387
ContourGlobal plc(b)		189,794		419,436
Drax Group plc		45,110		238,428
EDP Renovaveis SA		6,490		58,459
Electric Power Development Co. Ltd.		8,500		212,207
Encavis AG		3,696		24,470
ERG SpA		2,090		41,009
Innergex Renewable Energy, Inc.		559		6,121
Meridian Energy Ltd.		28,875		70,498
Northland Power, Inc.		2,116		38,460
Renewables Infrastructure Group Ltd. (The)(a)		963,336		1,495,320
Scatec Solar ASA(b)		988		9,852
Uniper SE		10,906		316,231

				2,972,493

Industrial Conglomerates - 0.9%
CIR-Compagnie Industriali Riunite SpA		202,540		235,193
CK Hutchison Holdings Ltd.		143,356		1,442,384


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Industrial Conglomerates - (continued)
DCC plc		2,080		170,325
Guoco Group Ltd.		4,000		51,334
Hopewell Holdings Ltd.		8,000		36,856
Indus Holding AG		1,013		50,331
Investment AB Latour, Class B(a)		15,705		194,767
Italmobiliare SpA		245		5,454
Jardine Matheson Holdings Ltd.		8,200		547,924
Jardine Strategic Holdings Ltd.		9,100		348,348
Keppel Corp. Ltd.		30,500		138,363
Lifco AB, Class B		2,000		80,024
Mie Kotsu Group Holdings, Inc.		58,100		330,993
Nisshinbo Holdings, Inc.		19,200		166,895
Nolato AB, Class B		710		32,646
NWS Holdings Ltd.		53,401		122,228
Rheinmetall AG		2,406		250,070
Seibu Holdings, Inc.		8,100		140,446
Sembcorp Industries Ltd.		17,200		33,130
Shun Tak Holdings Ltd.		1,256,000		497,809
Siemens AG (Registered)		25,010		2,748,668
Smiths Group plc		14,186		269,558
TOKAI Holdings Corp.		21,395		170,444
Toshiba Corp.		32,900		1,038,422

				9,102,612

Insurance - 5.1%
Admiral Group plc		14,193		386,659
Aegon NV		55,104		283,393
Ageas		10,332		481,094
AIA Group Ltd.		379,600		3,410,580
Allianz SE (Registered)		22,140		4,697,808
Alm Brand A/S		16,240		139,516
ASR Nederland NV		8,863		374,861
Assicurazioni Generali SpA		59,532		1,044,801
AUB Group Ltd.		2,255		19,468
Aviva plc		230,912		1,257,842
AXA SA		112,012		2,602,053
Baloise Holding AG (Registered)		3,198		495,447
Beazley plc		39,606		257,373
CBL Corp. Ltd.*(d)		102,937		226,329
Clal Insurance Enterprises Holdings Ltd.*		4,320		63,529
CNP Assurances		12,464		283,748
Coface SA(a)		88,806		817,242
Dai-ichi Life Holdings, Inc.		59,800		966,812
Direct Insurance Financial Investments Ltd.		3,564		42,200
Direct Line Insurance Group plc		110,979		491,539
Fairfax Financial Holdings Ltd.		574		271,659
Gjensidige Forsikring ASA		945		16,301
Great Eastern Holdings Ltd.		6,800		132,243
Great-West Lifeco, Inc.		6,399		137,403
Grupo Catalana Occidente SA		2,102		83,453
Hannover Rueck SE		3,034		438,304
Harel Insurance Investments & Financial Services Ltd.		19,063		132,849
Hastings Group Holdings plc(b)		312,134		861,432
Helvetia Holding AG (Registered)		253		149,949
Hiscox Ltd.		15,088		281,438
iA Financial Corp., Inc.		9,214		342,447


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Insurance - (continued)
IDI Insurance Co. Ltd.		1,760		96,834
Insurance Australia Group Ltd.		59,204		306,065
Intact Financial Corp.		5,412		427,998
Japan Post Holdings Co. Ltd.		68,500		841,537
Japan Post Insurance Co. Ltd.		7,600		173,327
Jardine Lloyd Thompson Group plc		6,537		163,383
Just Group plc(a)		741,444		988,987
Lancashire Holdings Ltd.		25,118		186,354
Legal & General Group plc		260,350		888,386
Manulife Financial Corp.		96,022		1,543,459
Mapfre SA		85,362		237,819
Medibank Pvt Ltd.		62,011		118,464
Menora Mivtachim Holdings Ltd.		24,507		298,947
Migdal Insurance & Financial Holding Ltd.		90,400		82,855
MS&AD Insurance Group Holdings, Inc.		21,600		641,867
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		8,118		1,811,767
nib holdings Ltd.(a)		19,924		77,577
NN Group NV		18,450		781,613
Phoenix Group Holdings plc		16,000		133,608
Phoenix Holdings Ltd. (The)		21,712		121,849
Poste Italiane SpA(b)		18,839		162,429
Power Corp. of Canada		10,496		208,753
Power Financial Corp.		6,237		128,036
Prudential plc		131,938		2,578,202
QBE Insurance Group Ltd.		81,016		633,851
RSA Insurance Group plc		38,048		256,658
Sabre Insurance Group plc(b)		168,100		628,001
Saga plc(a)		887,732		1,274,034
Sampo OYJ, Class A		11,729		537,934
SCOR SE		10,578		445,697
Societa Cattolica di Assicurazioni SC		159,244		1,472,760
Sompo Holdings, Inc.		20,200		758,405
Sony Financial Holdings, Inc.		8,500		161,127
Steadfast Group Ltd.		52,828		101,692
Storebrand ASA		17,930		137,378
Sun Life Financial, Inc.		29,110		1,050,646
Suncorp Group Ltd.		21,088		199,585
Swiss Life Holding AG (Registered)*		1,968		811,916
Swiss Re AG		15,006		1,439,644
T&D Holdings, Inc.		24,600		304,364
Talanx AG		3,690		137,269
Tokio Marine Holdings, Inc.		42,700		2,084,190
Topdanmark A/S		1,650		78,761
Tryg A/S(a)		2,365		60,443
Unipol Gruppo SpA		68,224		312,978
UnipolSai Assicurazioni SpA(a)		27,841		69,643
UNIQA Insurance Group AG		4,884		44,693
Wuestenrot & Wuerttembergische AG		14,432		272,578
Zurich Insurance Group AG*		7,462		2,344,426

				49,808,561


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Interactive Media & Services - 0.1%
Auto Trader Group plc(b)		28,947		174,018
carsales.com Ltd.		634		5,829
Dip Corp.(a)		1,400		25,458
Kakaku.com, Inc.		1,600		27,992
LINE Corp.*(a)		900		31,301
REA Group Ltd.		2,748		151,721
Rightmove plc		32,130		199,493
Scout24 AG(b)		2,584		121,506
XING SE		165		49,510
Yahoo Japan Corp.		40,000		107,691

				894,519

Internet & Direct Marketing Retail - 0.2%
ASKUL Corp.		500		10,075
ASOS plc*(a)		3,749		162,744
Belluna Co. Ltd.(a)		16,300		153,819
boohoo Group plc*(a)		21,836		53,987
Delivery Hero SE*(b)		4,128		152,521
Dustin Group AB(a)(b)		3,680		33,150
Just Eat plc*		13,319		121,978
Moneysupermarket.com Group plc		22,168		88,357
Ocado Group plc*		32,906		429,053
Rakuten, Inc.		24,300		182,870
Rocket Internet SE*(b)		1,646		41,589
Takeaway.com NV*(b)		1,022		64,967
Takkt AG		31,570		533,956
Trade Me Group Ltd.(a)		9,564		42,057
Webjet Ltd.(a)		2,707		23,646
Zalando SE*(b)		143		4,373
zooplus AG*		207		24,964
ZOZO, Inc.		4,000		80,603

				2,204,709

IT Services - 0.9%
Adyen NV*(a)(b)		574		426,599
Afterpay Touch Group Ltd.*		2,660		30,858
Alten SA		1,130		108,462
Altran Technologies SA(a)		16,181		152,898
Amadeus IT Group SA		13,858		1,009,419
Atea ASA*		10,346		143,212
Atos SE		5,658		517,564
Bechtle AG		1,192		94,854
Cancom SE		2,336		90,760
Capgemini SE		4,756		526,518
CGI Group, Inc., Class A*		8,856		585,792
Computacenter plc		9,339		128,501
Computershare Ltd.		18,084		234,314
Digital Garage, Inc.		1,300		31,189
DTS Corp.		2,000		70,661
Econocom Group SA/NV(a)		133,332		484,372
Evry A/S(b)		117,670		430,253
FDM Group Holdings plc		3,850		41,731
Formula Systems 1985 Ltd.		4,749		191,097
Fujitsu Ltd.		10,500		702,766
Global Dominion Access SA*(b)		2,113		11,032
GMO internet, Inc.		1,200		16,165
Indra Sistemas SA*		5,627		57,981
Infocom Corp.		800		26,978
Itochu Techno-Solutions Corp.		2,400		49,883


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
IT Services - (continued)
Link Administration Holdings Ltd.		6,763		35,209
Matrix IT Ltd.		2,464		29,860
NEC Networks & System Integration Corp.		4,300		94,866
NET One Systems Co. Ltd.		8,100		168,505
NEXTDC Ltd.*(a)		16,647		83,146
Nihon Unisys Ltd.		2,600		61,948
Nomura Research Institute Ltd.		4,215		171,962
NS Solutions Corp.		800		21,038
NSD Co. Ltd.		2,580		54,668
NTT Data Corp.		34,100		406,079
Obic Co. Ltd.		1,500		141,689
Otsuka Corp.		3,400		109,657
Reply SpA		880		48,872
SCSK Corp.		900		36,346
Shopify, Inc., Class A*		2,132		359,062
Softcat plc		12,119		110,797
Sopra Steria Group		1,463		148,231
SUNeVision Holdings Ltd.(a)		134,000		85,386
Tieto OYJ		1,598		45,877
TIS, Inc.		2,300		103,133
Transcosmos, Inc.		2,100		43,687
Wirecard AG		2,788		462,908
Worldline SA*(b)		1,045		56,141

				9,042,926

Leisure Products - 0.3%
Amer Sports OYJ*		5,890		262,229
Bandai Namco Holdings, Inc.		9,400		414,160
Beneteau SA		8,838		125,750
BRP, Inc.		3,584		103,211
Heiwa Corp.		8,850		186,710
Mizuno Corp.		16,400		383,516
Sega Sammy Holdings, Inc.		5,300		74,511
Shimano, Inc.		2,800		391,583
Spin Master Corp.*(b)		2,048		64,888
Technogym SpA(b)		4,905		57,014
Thule Group AB(b)		2,805		57,109
Tomy Co. Ltd.		10,900		114,979
Universal Entertainment Corp.		300		9,014
Yamaha Corp.		4,600		201,194
Yonex Co. Ltd.		10,000		66,342

				2,512,210

Life Sciences Tools & Services - 0.2%
Clinigen Group plc		5,270		55,251
EPS Holdings, Inc.		1,900		28,841
Eurofins Scientific SE(a)		615		248,118
Evotec AG*		8,958		210,305
Gerresheimer AG		755		51,200
Lonza Group AG (Registered)*		2,214		584,464
MorphoSys AG*		1,667		180,377
QIAGEN NV*		7,061		261,469
Sartorius Stedim Biotech		770		85,085
Siegfried Holding AG (Registered)*		165		58,293
Tecan Group AG (Registered)		779		157,512

				1,920,915

Machinery - 3.4%
Aalberts Industries NV		5,718		200,705


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Machinery - (continued)
Ag Growth International, Inc.		912		34,958
Aichi Corp.		32,000		176,128
Aida Engineering Ltd.		24,600		177,442
Alfa Laval AB		6,238		141,208
Alstom SA*		3,962		159,935
Amada Holdings Co. Ltd.		18,600		186,632
ANDRITZ AG(a)		3,620		179,110
Atlas Copco AB, Class A*		15,416		401,279
Atlas Copco AB, Class B*		20,992		501,409
ATS Automation Tooling Systems, Inc.*		1,400		18,037
Bando Chemical Industries Ltd.		41,500		414,504
Beijer Alma AB		2,304		35,016
Biesse SpA		14,514		339,410
Bodycote plc		16,467		164,736
Bucher Industries AG (Registered)(a)		275		83,878
Cargotec OYJ, Class B		684		22,902
CKD Corp.		33,900		318,348
CNH Industrial NV		20,090		197,420
Concentric AB		914		13,234
Construcciones y Auxiliar de Ferrocarriles SA		5,658		255,471
Conzzeta AG (Registered)		55		47,954
Daetwyler Holding AG		1,134		171,226
Daifuku Co. Ltd.(a)		4,800		239,934
Daiwa Industries Ltd.		1,600		16,084
Danieli & C Officine Meccaniche SpA		3,209		66,279
Danieli & C Officine Meccaniche SpA (Retirement Savings Plan)		3,477		56,574
Deutz AG		132,518		943,518
DMG Mori AG		1,007		50,668
DMG Mori Co. Ltd.(a)		2,100		28,385
Duerr AG		1,232		50,468
Epiroc AB, Class A*		40,262		385,832
FANUC Corp.		5,300		894,128
Fincantieri SpA(a)		79,280		91,880
Fluidra SA*		912		10,360
Fuji Corp.		13,000		169,264
Fujitec Co. Ltd.		60,400		657,668
Furukawa Co. Ltd.		44,300		563,367
GEA Group AG		10,168		280,248
Georg Fischer AG (Registered)		287		254,426
Gima TT SpA(b)		12,720		102,636
Glory Ltd.		8,300		205,841
Harmonic Drive Systems, Inc.(a)		1,500		52,237
Hino Motors Ltd.		16,000		160,397
Hitachi Construction Machinery Co. Ltd.		13,400		338,355
Hitachi Zosen Corp.(a)		103,400		342,988
Hoshizaki Corp.		1,200		85,124
Hosokawa Micron Corp.		8,300		337,476
IHI Corp.		2,500		78,907
IMA Industria Macchine Automatiche SpA		495		32,858
Interpump Group SpA		3,884		125,322
Interroll Holding AG (Registered)		34		61,619
Japan Steel Works Ltd. (The)		8,600		158,519


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Machinery - (continued)
JTEKT Corp.		2,300		29,778
Jungheinrich AG (Preference)		2,364		71,775
Kawasaki Heavy Industries Ltd.		600		15,079
KION Group AG		3,936		227,715
Kitz Corp.		86,300		704,959
Koenig & Bauer AG		12,287		583,687
Komatsu Ltd.		28,300		718,097
Komax Holding AG (Registered)*		645		170,986
Komori Corp.		4,400		46,697
Kone OYJ, Class B		11,808		574,346
Konecranes OYJ		2,273		78,714
Krones AG		1,610		134,767
Kubota Corp.		44,887		706,940
Kurita Water Industries Ltd.		3,400		86,226
Kyokuto Kaihatsu Kogyo Co. Ltd.		32,900		463,738
Makino Milling Machine Co. Ltd.(a)		24,700		1,006,565
Makita Corp.		6,600		233,483
Manitou BF SA		4,640		141,623
Max Co. Ltd.		9,800		130,571
Meidensha Corp.		28,100		378,522
Metso OYJ		507		14,893
MINEBEA MITSUMI, Inc.		16,411		268,716
MISUMI Group, Inc.		8,500		193,697
Mitsubishi Heavy Industries Ltd.		5,811		224,420
Mitsui E&S Holdings Co. Ltd.*(a)		8,100		91,025
Miura Co. Ltd.		3,300		81,871
Morgan Advanced Materials plc		39,032		136,987
Morita Holdings Corp.		9,000		145,548
Nabtesco Corp.		10,600		279,245
Nachi-Fujikoshi Corp.(a)		28,200		1,125,875
NFI Group, Inc.(a)		1,903		49,890
NGK Insulators Ltd.		8,700		133,502
Nippon Thompson Co. Ltd.		74,700		387,125
Nitta Corp.		3,400		111,376
Nittoku Engineering Co. Ltd.(a)		8,100		192,396
Noritake Co. Ltd.		16,500		782,321
Norma Group SE		234		12,389
NSK Ltd.		42,100		409,665
OC Oerlikon Corp. AG (Registered)*		13,878		179,333
Oiles Corp.		8,620		143,838
OKUMA Corp.		1,000		51,548
OSG Corp.		1,500		30,640
Outotec OYJ*		35,725		146,344
Palfinger AG		2,657		82,622
Pfeiffer Vacuum Technology AG		1,102		154,521
Rational AG		55		34,521
Rieter Holding AG (Registered)(a)		960		133,051
Rotork plc		23,256		84,067
Ryobi Ltd.(a)		26,300		674,960
Sandvik AB		30,340		483,911
Schindler Holding AG		1,560		331,781
Schindler Holding AG (Registered)		602		127,184
SFS Group AG*		1,600		128,697
Shima Seiki Manufacturing Ltd.		1,300		42,346
Shinmaywa Industries Ltd.(a)		11,400		153,774
Shinwa Co. Ltd.		8,100		154,140
Sintokogio Ltd.		68,600		579,283


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Machinery - (continued)
SKF AB, Class A		2,427		40,668
SKF AB, Class B		3,120		52,366
SMC Corp.		1,800		590,958
Sodick Co. Ltd.		22,800		172,210
Spirax-Sarco Engineering plc		2,817		237,345
Stabilus SA		3,145		196,676
Star Micronics Co. Ltd.(a)		30,800		450,835
Sumitomo Heavy Industries Ltd.		5,200		175,595
Tadano Ltd.		14,600		165,680
Takeuchi Manufacturing Co. Ltd.		3,800		68,681
Takuma Co. Ltd.		16,600		210,036
THK Co. Ltd.		10,600		250,999
Tocalo Co. Ltd.		58,100		493,821
Toshiba Machine Co. Ltd.(a)		11,549		231,447
Trelleborg AB, Class B		2,480		41,679
Tsubaki Nakashima Co. Ltd.(a)		5,600		92,261
Tsubakimoto Chain Co.		2,200		81,264
Tsugami Corp.		16,200		105,688
Union Tool Co.		500		14,105
Valmet OYJ		5,005		112,850
Vesuvius plc(a)		177,038		1,309,976
Volvo AB, Class A(a)		23,206		332,934
Volvo AB, Class B		84,292		1,211,658
Vossloh AG		1,458		68,676
Wacker Neuson SE		5,236		117,097
Wartsila OYJ Abp		11,152		182,028
Washtec AG		2,080		147,736
Weir Group plc (The)		2,400		47,514
YAMABIKO Corp.		49,400		488,871
Yangzijiang Shipbuilding Holdings Ltd.		174,600		181,787

				33,817,515

Marine - 0.3%
AP Moller - Maersk A/S, Class A		246		307,552
AP Moller - Maersk A/S, Class B		164		218,317
Dfds A/S		1,509		71,335
Golden Ocean Group Ltd.		8,000		40,560
Iino Kaiun Kaisha Ltd.		119,200		421,685
Irish Continental Group plc		11,810		64,437
Kawasaki Kisen Kaisha Ltd.*		8,100		105,613
Kuehne + Nagel International AG (Registered)		1,360		184,240
NS United Kaiun Kaisha Ltd.(a)		8,300		211,256
Orient Overseas International Ltd.*		7,000		46,300
Pacific Basin Shipping Ltd.		3,362,000		664,114
SITC International Holdings Co. Ltd.		182,000		167,000
Stolt-Nielsen Ltd.		9,680		116,985
Wallenius Wilhelmsen ASA*(a)		19,252		68,108
Wilh Wilhelmsen Holding ASA, Class A		2,416		42,334
Wilh Wilhelmsen Holding ASA, Class B		2,216		39,329

				2,769,165

Media - 1.2%
Altice Europe NV*		11,083		22,668
Ascential plc		19,337		96,660


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Media - (continued)
Atresmedia Corp. de Medios de Comunicacion SA		52,890		257,198
Axel Springer SE		2,916		178,675
Cogeco Communications, Inc.		22,550		1,286,241
Cogeco, Inc.		3,235		166,024
Corus Entertainment, Inc., Class B		132,348		561,318
CyberAgent, Inc.		2,200		70,753
Daily Mail & General Trust plc, Class A		11,265		89,800
Dentsu, Inc.		10,300		488,358
Euromoney Institutional Investor plc		1,838		29,981
Eutelsat Communications SA		9,512		201,919
Evergrande Health Industry Group Ltd.*(a)		125,000		221,112
Hakuhodo DY Holdings, Inc.		7,400		113,553
Informa plc		52,152		464,033
IPSOS		30,586		711,745
ITV plc		136,530		232,221
JCDecaux SA		6,724		199,676
Lagardere SCA		9,911		259,631
Mediaset SpA*(a)		7,888		25,977
Metropole Television SA		1,295		19,837
Modern Times Group MTG AB, Class B(a)		1,546		52,050
Nine Entertainment Co. Holdings Ltd.(a)		1,292,074		1,370,778
Nippon Television Holdings, Inc.		8,100		127,197
NOS SGPS SA		1,360		8,840
NRJ Group		13,770		116,291
oOh!media Ltd.		6,533		17,053
Pearson plc		31,488		375,273
Promotora de Informaciones SA, Class A*		160,228		310,713
ProSiebenSat.1 Media SE		4,941		88,615
Publicis Groupe SA		3,718		227,389
Quebecor, Inc., Class B		8,092		190,578
RAI Way SpA(b)		8,120		41,462
Sanoma OYJ		10,880		105,867
Schibsted ASA, Class A		2,349		82,376
Schibsted ASA, Class B		3,483		110,608
SES SA, FDR		15,662		320,250
Seven West Media Ltd.*(a)		562,848		221,616
Shaw Communications, Inc., Class B		5,916		120,185
Singapore Press Holdings Ltd.		118,100		220,452
SKY Network Television Ltd.		365,474		479,101
SKY Perfect JSAT Holdings, Inc.(a)		15,200		66,901
Southern Cross Media Group Ltd.(a)		561,700		430,042
Stroeer SE & Co. KGaA		620		34,774
Tamedia AG (Registered)		1,804		208,203
Telenet Group Holding NV		4,838		224,386
Television Francaise 1(a)		16,320		132,583
Vector, Inc.		1,500		19,462
Wowow, Inc.		3,630		94,494
WPP plc		58,712		671,770


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Media - (continued)
Zenrin Co. Ltd.		2,400		60,689

				12,227,378

Metals & Mining - 4.4%
Acacia Mining plc*(a)		141,316		362,679
Acerinox SA		231		2,519
Agnico Eagle Mines Ltd.		4,283		186,380
Aichi Steel Corp.		9,900		311,564
Alamos Gold, Inc., Class A		48,720		217,020
Alumina Ltd.		94,737		167,858
Anglo American plc(a)		76,178		1,946,848
Antofagasta plc		19,805		226,605
APERAM SA(a)		1,904		58,333
ArcelorMittal		27,634		640,356
Asahi Holdings, Inc.		33,600		715,656
Aurelia Metals Ltd.*		590,974		353,345
Aurubis AG		1,572		86,095
Ausdrill Ltd.(a)		541,302		497,310
B2Gold Corp.*		52,817		167,303
Barrick Gold Corp.		56,478		756,452
Bekaert SA		38,766		1,044,438
BHP Group Ltd.		92,496		2,349,056
BHP Group plc		116,358		2,587,073
BlueScope Steel Ltd.		27,470		249,370
Boliden AB*		10,332		257,865
Centamin plc		48,989		75,849
Centerra Gold, Inc.*		191,880		973,061
Daido Steel Co. Ltd.		8,300		346,246
Detour Gold Corp.*		21,360		214,039
Dowa Holdings Co. Ltd.		2,200		70,348
Endeavour Mining Corp.*		2,501		43,115
Eramet		818		57,115
Evolution Mining Ltd.		42,290		123,651
Evraz plc		12,821		84,023
Ferrexpo plc		304,220		1,034,081
First Quantum Minerals Ltd.		9,680		112,109
Fortescue Metals Group Ltd.		22,032		90,765
Franco-Nevada Corp.		4,689		363,930
Fresnillo plc		13,040		172,392
Galaxy Resources Ltd.*(a)		97,360		141,980
Glencore plc*		686,012		2,792,522
Goldcorp, Inc.		7,201		80,602
Granges AB		65,272		625,864
Hill & Smith Holdings plc		4,063		59,005
Hitachi Metals Ltd.		4,740		53,093
Hochschild Mining plc		14,099		35,025
Hudbay Minerals, Inc.(a)		242,064		1,450,578
IAMGOLD Corp.*		47,672		178,593
Independence Group NL		36,717		117,262
Ivanhoe Mines Ltd., Class A*		21,170		45,780
JFE Holdings, Inc.		38,300		673,760
KAZ Minerals plc(a)		17,892		139,663
Kinross Gold Corp.*		27,217		90,979
Kirkland Lake Gold Ltd.		9,348		300,876
Kobe Steel Ltd.		8,200		65,552
Kyoei Steel Ltd.(a)		14,300		233,362
Labrador Iron Ore Royalty Corp.		58,302		1,346,899
Lundin Gold, Inc.*(a)		17,172		69,561
Lundin Mining Corp.		48,367		220,972


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Metals & Mining - (continued)
Lynas Corp. Ltd.*		50,800		62,043
MAG Silver Corp.*		11,120		99,913
Mineral Resources Ltd.		22,878		263,901
Mitsubishi Materials Corp.		8,300		237,186
Mitsui Mining & Smelting Co. Ltd.(a)		11,100		260,391
Newcrest Mining Ltd.		28,044		499,961
Nippon Light Metal Holdings Co. Ltd.		66,500		147,262
Nippon Steel & Sumitomo Metal Corp.		43,115		796,298
Norsk Hydro ASA		52,480		242,479
Northern Star Resources Ltd.		34,241		218,959
Novagold Resources, Inc.*		5,530		21,559
OceanaGold Corp.		66,026		235,789
OM Holdings Ltd.(a)		251,979		242,524
Osaka Steel Co. Ltd.		1,000		18,129
Outokumpu OYJ(a)		38,697		166,378
OZ Minerals Ltd.		13,621		96,934
Pacific Metals Co. Ltd.(a)		16,600		444,172
Pan American Silver Corp.		3,325		49,623
Pilbara Minerals Ltd.*(a)		182,560		86,524
Polymetal International plc		20,623		235,530
Pretium Resources, Inc.*(a)		161,540		1,269,392
Regis Resources Ltd.		75,030		284,482
Resolute Mining Ltd.(a)		522,422		430,444
Rio Tinto Ltd.		12,956		822,350
Rio Tinto plc		58,958		3,247,670
Salzgitter AG		6,258		188,997
Sandfire Resources NL		143,664		732,221
Sandstorm Gold Ltd.*		16,268		85,347
Sanyo Special Steel Co. Ltd.		22,700		490,585
Saracen Mineral Holdings Ltd.*		92,332		226,882
SEMAFO, Inc.*(a)		22,315		50,465
Sims Metal Management Ltd.(a)		5,940		44,914
South32 Ltd.		281,752		725,201
SSAB AB, Class A		13,394		52,971
SSR Mining, Inc.*		9,309		127,730
St Barbara Ltd.		43,360		158,396
Stelco Holdings, Inc.		6,320		84,456
Sumitomo Metal Mining Co. Ltd.		8,900		256,459
Tahoe Resources, Inc.*(a)		41,840		158,656
Teck Resources Ltd., Class B		25,666		625,380
thyssenkrupp AG*		6,960		123,547
Toho Titanium Co. Ltd.		200		1,818
Toho Zinc Co. Ltd.(a)		11,400		375,531
Tokyo Steel Manufacturing Co. Ltd.		78,300		659,755
Topy Industries Ltd.(a)		8,000		171,497
Torex Gold Resources, Inc.*		9,122		99,256
Turquoise Hill Resources Ltd.*		84,560		141,652
UACJ Corp.(a)		25,800		557,107
voestalpine AG		2,640		84,456
Western Areas Ltd.		54,000		92,529
Wheaton Precious Metals Corp.		11,557		243,583
Yamana Gold, Inc.		43,348		122,126


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Metals & Mining - (continued)
Yodogawa Steel Works Ltd.		27,500		558,945

				43,387,132

Multiline Retail - 0.4%
B&M European Value Retail SA		51,719		220,565
Canadian Tire Corp. Ltd., Class A(a)		1,968		223,953
Dollarama, Inc.		8,282		223,052
Fuji Co. Ltd.		32,900		558,360
H2O Retailing Corp.(a)		11,315		158,969
Harvey Norman Holdings Ltd.(a)		5,610		13,785
Hudson’s Bay Co.(a)		115,784		717,644
Isetan Mitsukoshi Holdings Ltd.		14,400		147,930
Izumi Co. Ltd.		1,300		65,460
J Front Retailing Co. Ltd.		10,700		122,505
Marks & Spencer Group plc		32,562		123,704
Marui Group Co. Ltd.(a)		5,500		111,486
Next plc		4,510		287,557
Pan Pacific International Holdings Corp.		3,400		197,758
Parco Co. Ltd.(a)		17,600		167,380
Ryohin Keikaku Co. Ltd.		600		141,689
Seria Co. Ltd.(a)		1,000		30,782
Takashimaya Co. Ltd.		9,100		123,418
Wesfarmers Ltd.		29,274		687,527

				4,323,524

Multi-Utilities - 0.8%
A2A SpA		177,968		325,101
ACEA SpA		1,552		23,721
AGL Energy Ltd.		28,454		444,406
Algonquin Power & Utilities Corp.		26,884		297,028
Centrica plc		309,468		555,270
E.ON SE		54,222		602,261
Engie SA		90,692		1,455,342
Hera SpA		70,471		238,704
Innogy SE*		6,400		274,654
Iren SpA		50,950		125,227
Keppel Infrastructure Trust		152,100		57,689
National Grid plc		116,276		1,262,187
REN - Redes Energeticas Nacionais SGPS SA		334,396		1,006,068
RWE AG		25,365		629,834
RWE AG (Preference) (Non-Voting)		6,955		170,783
Suez		8,731		112,056
Telecom Plus plc		7,522		139,517
Veolia Environnement SA		27,880		589,272

				8,309,120

Oil, Gas & Consumable Fuels - 6.0%
Aker BP ASA		4,404		146,809
ARC Resources Ltd.(a)		24,960		180,553
Baytex Energy Corp.*(a)		538,740		906,583
Beach Energy Ltd.		206,066		270,455
Birchcliff Energy Ltd.		156,670		374,586
BP plc		1,079,038		7,382,406
Brightoil Petroleum Holdings Ltd.*(d)		50,147		9,586
BW LPG Ltd.*(b)		39,840		122,261
Cairn Energy plc*(a)		608,650		1,497,213


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Oil, Gas & Consumable Fuels - (continued)
Caltex Australia Ltd.		8,880		173,785
Cameco Corp.		13,932		168,886
Canadian Natural Resources Ltd.		67,896		1,823,416
Cenovus Energy, Inc.		41,492		324,151
China Aviation Oil Singapore Corp. Ltd.		96,000		82,817
Cosmo Energy Holdings Co. Ltd.		7,000		157,971
Delek Group Ltd.		543		94,693
Diversified Gas & Oil plc(b)		459,938		701,830
DNO ASA		151,782		292,266
Enagas SA		5,522		161,130
Enbridge, Inc.		64,124		2,344,166
Encana Corp.		12,800		87,913
Enerplus Corp.		16,456		142,469
Eni SpA		137,678		2,339,031
Equinor ASA		58,630		1,341,944
Etablissements Maurel et Prom*		70,602		279,087
Euronav NV(a)		19,296		151,224
Galp Energia SGPS SA		7,324		114,672
Gaztransport Et Technigaz SA		1,680		142,169
Genel Energy plc*		189,010		461,961
Gibson Energy, Inc.		7,625		115,597
Husky Energy, Inc.		11,656		138,367
Idemitsu Kosan Co. Ltd.		14,100		496,862
Imperial Oil Ltd.(a)		5,120		145,339
Inpex Corp.		43,000		413,089
Inter Pipeline Ltd.		22,984		369,620
Itochu Enex Co. Ltd.		49,300		430,803
Japan Petroleum Exploration Co. Ltd.		8,000		149,959
Jerusalem Oil Exploration		8,200		515,709
JXTG Holdings, Inc.		202,050		1,101,686
Keyera Corp.		1,840		39,117
Koninklijke Vopak NV		2,356		120,058
Lundin Petroleum AB		4,170		133,434
MEG Energy Corp.*(a)		20,320		84,016
Mitsuuroko Group Holdings Co. Ltd.(a)		41,000		290,839
Naphtha Israel Petroleum Corp. Ltd.		28,434		192,990
Neste OYJ		5,412		497,669
New Hope Corp. Ltd.		48,560		141,984
New Zealand Refining Co. Ltd. (The)		67,959		109,828
NexGen Energy Ltd.*		22,998		39,927
Oil Refineries Ltd.*		182,503		88,809
OMV AG		9,594		477,775
Origin Energy Ltd.*		69,946		365,168
Parex Resources, Inc.*		6,710		100,653
Parkland Fuel Corp.		2,333		66,776
Pembina Pipeline Corp.		13,694		488,200
PrairieSky Royalty Ltd.(a)		486		7,024
Premier Oil plc*(a)		600,158		583,819
Repsol SA		68,102		1,197,942
Royal Dutch Shell plc, Class A		241,490		7,503,318
Royal Dutch Shell plc, Class B		193,520		6,029,393
San-Ai Oil Co. Ltd.		61,500		540,802
Santos Ltd.		85,116		401,543
Saras SpA(a)		423,202		903,222


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Oil, Gas & Consumable Fuels - (continued)
Seven Generations Energy Ltd., Class A*		29,192		226,725
Showa Shell Sekiyu KK		10,200		151,833
Snam SpA		28,934		138,445
Suncor Energy, Inc.		46,494		1,500,355
Tamarack Valley Energy Ltd.*		75,040		123,419
TORC Oil & Gas Ltd.		28,276		101,624
TOTAL SA		135,464		7,457,923
Tourmaline Oil Corp.		80		1,092
TransCanada Corp.		29,930		1,273,501
Tullow Oil plc*		31,712		85,392
United Energy Group Ltd.		560,000		87,068
Vermilion Energy, Inc.(a)		347		8,508
Washington H Soul Pattinson & Co. Ltd.		8,285		158,939
Whitehaven Coal Ltd.		24,365		87,940
Woodside Petroleum Ltd.		26,294		657,992

				58,618,126

Paper & Forest Products - 0.7%
Ahlstrom-Munksjo OYJ(a)		71,323		1,113,018
Altri SGPS SA		88,888		737,420
Canfor Corp.*		7,392		101,990
Canfor Pulp Products, Inc.		28,372		399,883
Daiken Corp.		12,500		214,670
Daio Paper Corp.(a)		3,745		48,107
Ence Energia y Celulosa SA		22,640		176,003
Hokuetsu Corp.(a)		119,900		648,912
Holmen AB, Class B		4,070		87,075
Interfor Corp.*		47,806		651,950
Metsa Board OYJ		6,595		47,978
Mondi plc		14,842		359,142
Navigator Co. SA (The)		6,520		31,975
Nippon Paper Industries Co. Ltd.(a)		8,100		158,606
Norbord, Inc.		3,136		90,739
Oji Holdings Corp.		45,000		260,085
Semapa-Sociedade de Investimento e Gestao		20,336		356,085
Stella-Jones, Inc.		1,045		33,738
Stora Enso OYJ, Class R		25,502		342,222
Svenska Cellulosa AB SCA, Class A		3,160		28,606
Svenska Cellulosa AB SCA, Class B		14,939		131,206
UPM-Kymmene OYJ		18,368		532,389
West Fraser Timber Co. Ltd.		2,213		131,890

				6,683,689

Personal Products - 1.1%
Beiersdorf AG		2,788		279,281
Blackmores Ltd.(a)		798		75,066
Fancl Corp.		5,000		108,150
Interparfums SA		541		27,128
Kao Corp.		14,700		1,036,280
Kobayashi Pharmaceutical Co. Ltd.		1,400		88,762
Kose Corp.		700		102,849
L’Oreal SA		7,881		1,899,946
Mandom Corp.		2,600		60,897
Milbon Co. Ltd.		1,000		40,108
Noevir Holdings Co. Ltd.		1,900		81,094


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Personal Products - (continued)
Ontex Group NV(a)		56,006		1,194,669
Oriflame Holding AG		2,061		45,880
Pola Orbis Holdings, Inc.		2,000		59,634
Shiseido Co. Ltd.		13,700		815,102
Unilever NV, CVA		49,774		2,664,044
Unilever plc		37,064		1,942,676
YA-MAN Ltd.(a)		800		9,828

				10,531,394

Pharmaceuticals - 4.2%
ALK-Abello A/S*		532		82,086
Almirall SA		4,648		78,934
Astellas Pharma, Inc.		63,400		937,630
AstraZeneca plc		39,934		2,906,025
Aurora Cannabis, Inc.*(a)		35,834		253,755
Bausch Health Cos., Inc.*		11,480		281,996
Bayer AG (Registered)		50,020		3,799,579
BTG plc*		28,026		306,732
CannTrust Holdings, Inc.*(a)		10,800		83,222
Canopy Growth Corp.*(a)		10,004		490,716
Chugai Pharmaceutical Co. Ltd.		8,700		513,222
COSMO Pharmaceuticals NV*		1,040		92,825
Cronos Group, Inc.*(a)		10,880		213,325
Daiichi Sankyo Co. Ltd.		19,100		661,120
Dechra Pharmaceuticals plc		5,318		165,515
Eisai Co. Ltd.		9,300		719,440
Faes Farma SA		26,904		101,257
Faes Farma SA*(d)		927		3,489
Financiere de Tubize SA		1,549		117,486
Galenica AG*(b)		3,128		142,953
GlaxoSmithKline plc		142,762		2,774,126
GW Pharmaceuticals plc*(d)		1		10
H Lundbeck A/S		1,852		81,316
Haw Par Corp. Ltd.		3,200		29,510
HEXO Corp.*(a)		15,680		88,948
Hikma Pharmaceuticals plc		7,104		150,501
Hisamitsu Pharmaceutical Co., Inc.		1,900		96,894
Hutchison China MediTech Ltd.*		715		31,790
Ipsen SA		770		97,189
JCR Pharmaceuticals Co. Ltd.(a)		600		31,094
Kaken Pharmaceutical Co. Ltd.		1,500		70,707
Kissei Pharmaceutical Co. Ltd.		1,400		37,936
Kyowa Hakko Kirin Co. Ltd.		5,000		95,562
Mayne Pharma Group Ltd.*		148,797		87,339
Merck KGaA		2,870		301,590
Mitsubishi Tanabe Pharma Corp.		4,700		73,460
Mochida Pharmaceutical Co. Ltd.		1,600		141,579
Nippon Shinyaku Co. Ltd.		2,000		126,803
Novartis AG (Registered)		76,916		6,706,213
Novo Nordisk A/S, Class B		50,430		2,357,621
Ono Pharmaceutical Co. Ltd.		17,000		370,289
Orion OYJ, Class A		1,474		52,093
Orion OYJ, Class B		6,813		241,016
Otsuka Holdings Co. Ltd.		17,700		724,231
Recipharm AB, Class B*		3,741		48,214
Recordati SpA		2,359		85,644
Roche Holding AG - BR		914		240,454
Roche Holding AG - Genusschein		20,992		5,584,960
Rohto Pharmaceutical Co. Ltd.		2,000		53,717


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Pharmaceuticals - (continued)
Sanofi		33,210		2,889,259
Santen Pharmaceutical Co. Ltd.		16,500		227,267
Seikagaku Corp.		1,800		20,360
Shionogi & Co. Ltd.		9,500		583,635
Sosei Group Corp.*(a)		66,400		618,058
Sumitomo Dainippon Pharma Co. Ltd.		10,600		247,979
Taisho Pharmaceutical Holdings Co. Ltd.		2,500		252,917
Takeda Pharmaceutical Co. Ltd.		59,817		2,412,357
Teva Pharmaceutical Industries Ltd.*		40,016		802,027
Torii Pharmaceutical Co. Ltd.		700		15,431
Towa Pharmaceutical Co. Ltd.		400		28,080
Tsumura & Co.		900		26,174
UCB SA		4,100		355,852
Vifor Pharma AG		1,511		192,359
Virbac SA*		532		75,085
ZERIA Pharmaceutical Co. Ltd.		1,800		29,755

				41,508,708

Professional Services - 0.9%
Adecco Group AG (Registered)		10,824		542,564
AF AB, Class B		3,322		58,382
ALS Ltd.(a)		13,503		71,382
Applus Services SA		17,337		198,933
Benefit One, Inc.		1,000		33,768
Bureau Veritas SA		3,536		78,713
Capita plc*		4,240		6,476
DKSH Holding AG		660		49,495
en-japan, Inc.		1,700		63,498
Experian plc		30,176		758,969
Funai Soken Holdings, Inc.		2,700		45,624
Groupe Crit		720		42,630
Hays plc		34,264		67,924
Intertek Group plc		4,428		285,882
Intertrust NV(b)		9,280		151,313
IPH Ltd.(a)		31,760		126,673
JAC Recruitment Co. Ltd.		1,300		26,112
McMillan Shakespeare Ltd.(a)		18,015		201,632
Meitec Corp.(a)		2,400		104,640
Morneau Shepell, Inc.		2,428		48,882
Nihon M&A Center, Inc.		2,400		59,917
Nomura Co. Ltd.		3,000		81,623
Outsourcing, Inc.(a)		11,100		126,167
Pagegroup plc		20,728		120,410
Persol Holdings Co. Ltd.		5,700		101,241
Randstad NV		4,428		213,957
Recruit Holdings Co. Ltd.		55,800		1,493,315
RELX plc		62,320		1,382,573
RWS Holdings plc		3,113		19,165
SEEK Ltd.		5,653		70,031
SGS SA (Registered)		208		502,127
SMS Co. Ltd.		3,200		52,691
Stantec, Inc.		1,027		24,430
Synergie SA		2,720		84,269
TechnoPro Holdings, Inc.		1,900		99,513
Teleperformance		1,722		296,979
Thomson Reuters Corp.(a)		7,298		381,821


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Professional Services - (continued)
Wolters Kluwer NV		9,676		603,988
World Holdings Co. Ltd.		8,100		200,807

				8,878,516

Real Estate Management & Development - 3.1%
ADLER Real Estate AG		7,360		118,064
ADO Group Ltd.*		8,847		191,708
ADO Properties SA(b)		2,400		144,166
Aedas Homes SAU*(b)		486		13,105
Aeon Mall Co. Ltd.		7,690		127,613
Africa Israel Properties Ltd.*		4,400		110,483
Airport City Ltd.*		17,802		234,698
Allreal Holding AG (Registered)*		1,492		242,426
Alrov Properties and Lodgings Ltd.		3,440		101,877
Altus Group Ltd.		1,792		33,649
Amot Investments Ltd.		14,530		76,584
Aroundtown SA		13,148		116,469
Atrium Ljungberg AB, Class B		7,605		139,033
Aveo Group(a)		246,164		290,775
Azrieli Group Ltd.		2,518		134,035
Bayside Land Corp.		144		68,844
Big Shopping Centers Ltd.		3,320		205,692
Blue Square Real Estate Ltd.		1,280		45,623
Bukit Sembawang Estates Ltd.		131,200		547,378
CA Immobilien Anlagen AG		1,760		63,130
CapitaLand Ltd.		134,800		333,830
Castellum AB		17,958		340,214
Catena AB		4,800		129,188
City Developments Ltd.		21,400		146,258
Citycon OYJ(a)		328,574		672,608
CK Asset Holdings Ltd.		164,000		1,374,208
CLS Holdings plc		14,403		46,419
Colliers International Group, Inc.		1,940		123,951
Corem Property Group AB, Class B		89,200		110,425
Corestate Capital Holding SA		9,102		334,211
Daejan Holdings plc		8,774		671,730
Daibiru Corp.		3,300		32,870
Daito Trust Construction Co. Ltd.		1,900		264,408
Daiwa House Industry Co. Ltd.		35,800		1,160,219
Deutsche Wohnen SE		10,660		533,185
Dios Fastigheter AB		75,932		544,694
DREAM Unlimited Corp., Class A*		72,488		395,750
Emperor International Holdings Ltd.		380,000		101,699
Fabege AB		12,308		179,357
Far East Consortium International Ltd.(a)		821,019		366,213
Fastighets AB Balder, Class B*		8,752		275,699
FastPartner AB		6,642		46,985
First Capital Realty, Inc.		16,894		263,965
FirstService Corp.(a)		1,780		144,685
Gazit-Globe Ltd.		3,498		28,604
Goldcrest Co. Ltd.		9,100		138,135
Grainger plc		33,054		99,310
Grand City Properties SA		2,508		62,448
Great Eagle Holdings Ltd.		8,646		40,053
GuocoLand Ltd.		254,200		345,953
Heiwa Real Estate Co. Ltd.		11,700		215,767


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Real Estate Management & Development - (continued)
Hembla AB*		6,592		119,931
Hemfosa Fastigheter AB		10,627		94,204
Henderson Land Development Co. Ltd.		44,763		253,574
Hiag Immobilien Holding AG*		355		41,508
HKR International Ltd.		674,560		329,255
Ho Bee Land Ltd.		56,000		104,533
Hufvudstaden AB, Class A		2,610		43,331
Hulic Co. Ltd.		4,900		45,159
Hysan Development Co. Ltd.		19,000		98,551
Ichigo, Inc.		14,300		49,274
IMMOFINANZ AG*(a)		4,089		108,383
Intershop Holding AG		131		65,625
Jerusalem Economy Ltd.*		1,782		4,939
Jeudan A/S		112		16,455
K Wah International Holdings Ltd.		1,107,089		608,097
Kabuki-Za Co. Ltd.		2,300		122,154
Kenedix, Inc.		13,500		70,831
Kerry Properties Ltd.		39,000		161,036
Klovern AB, Class B(a)		379,168		461,426
Kowloon Development Co. Ltd.		183,000		207,798
Kungsleden AB		18,080		137,090
Lai Sun Development Co. Ltd.		155,924		259,519
Langham Hospitality Investments and Langham Hospitality Investments Ltd.		143,500		57,790
LEG Immobilien AG		2,706		318,263
LendLease Group		6,640		59,212
Leopalace21 Corp.		235,100		1,112,529
Melisron Ltd.		3,992		183,709
Mitsubishi Estate Co. Ltd.		35,600		629,534
Mitsui Fudosan Co. Ltd.		28,900		700,260
Mobimo Holding AG (Registered)		232		56,942
Morguard Corp.		3,198		444,890
New World Development Co. Ltd.		194,362		304,670
Nexity SA		1,546		72,378
Nomura Real Estate Holdings, Inc.		5,800		112,611
Norwegian Property ASA		16,948		21,649
Open House Co. Ltd.(a)		2,000		83,249
Oxley Holdings Ltd.		267,488		59,678
PATRIZIA Immobilien AG		3,248		72,451
Platzer Fastigheter Holding AB, Class B		24,680		187,407
Property & Building Corp. Ltd.		3,263		269,608
PSP Swiss Property AG (Registered)		1,501		154,624
Purplebricks Group plc*		64,960		147,917
Relo Group, Inc.		2,270		59,696
S IMMO AG		8,160		157,676
Sagax AB, Class B		5,743		93,312
SAMTY Co. Ltd.		24,900		348,458
Savills plc		113,078		1,237,587
SEA Holdings Ltd.		33,170		42,273
Sino Land Co. Ltd.		192,030		344,086
Sirius Real Estate Ltd.		90,571		74,821
St Modwen Properties plc		2,689		14,510
Sumitomo Realty & Development Co. Ltd.		9,700		370,156
Summit Real Estate Holdings Ltd.		42,476		398,426


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Real Estate Management & Development - (continued)
Sun Frontier Fudousan Co. Ltd.(a)		16,200		177,436
Sun Hung Kai Properties Ltd.		85,435		1,428,508
Swire Properties Ltd.		47,600		185,020
Swiss Prime Site AG (Registered)*		2,624		222,568
TAG Immobilien AG		7,646		193,366
TLG Immobilien AG		2,046		62,918
Tokyo Tatemono Co. Ltd.		16,000		194,358
Tokyu Fudosan Holdings Corp.		20,000		108,794
Tosei Corp.		8,200		76,854
Tricon Capital Group, Inc.(a)		122,672		961,163
United Engineers Ltd.		77,800		147,540
United Industrial Corp. Ltd.		5,656		12,577
Unizo Holdings Co. Ltd.(a)		22,600		426,748
UOL Group Ltd.		26,999		133,323
Vonovia SE		16,445		826,687
Wallenstam AB, Class B		21,272		214,078
Wharf Holdings Ltd. (The)		57,000		171,798
Wharf Real Estate Investment Co. Ltd.		21,000		143,181
Wheelock & Co. Ltd.		24,000		153,542
Wihlborgs Fastigheter AB		8,338		108,528
Wing Tai Holdings Ltd.		59,200		90,254
Wing Tai Properties Ltd.		328,000		252,060

				30,412,739

Road & Rail - 1.7%
Aurizon Holdings Ltd.		31,840		102,151
Canadian National Railway Co.		23,452		1,958,054
Canadian Pacific Railway Ltd.		4,756		975,282
Central Japan Railway Co.		6,600		1,424,552
ComfortDelGro Corp. Ltd.		137,900		238,952
DSV A/S		5,986		477,820
East Japan Railway Co.		10,800		1,000,312
Europcar Mobility Group(a)(b)		80,878		713,659
Firstgroup plc*		1,144,802		1,392,985
Fukuyama Transporting Co. Ltd.		1,000		40,108
Go-Ahead Group plc (The)		37,720		892,642
Hamakyorex Co. Ltd.		8,500		303,823
Hankyu Hanshin Holdings, Inc.		5,400		192,520
Hitachi Transport System Ltd.		2,700		75,296
Keikyu Corp.(a)		6,000		102,049
Keio Corp.(a)		2,800		160,801
Keisei Electric Railway Co. Ltd.		5,100		161,674
Kintetsu Group Holdings Co. Ltd.		8,800		383,681
Kyushu Railway Co.		2,100		71,589
Maruzen Showa Unyu Co. Ltd.		8,300		204,316
MTR Corp. Ltd.		43,881		244,942
Nankai Electric Railway Co. Ltd.		3,000		80,272
National Express Group plc		37,840		196,220
Nikkon Holdings Co. Ltd.		2,600		65,412
Nippon Express Co. Ltd.		3,700		233,906
Nishi-Nippon Railroad Co. Ltd.(a)		1,000		25,517
Odakyu Electric Railway Co. Ltd.		16,600		372,939
Sankyu, Inc.		2,333		113,617
Seino Holdings Co. Ltd.		7,500		103,372
Senko Group Holdings Co. Ltd.		134,800		1,096,187
Sixt SE		550		50,046
Sixt SE (Preference)		1,518		97,194
Stagecoach Group plc		405,982		825,640


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Road & Rail - (continued)
Stef SA		2,460		237,956
TFI International, Inc.		6,708		197,568
Tobu Railway Co. Ltd.		4,000		112,837
Tokyu Corp.		22,200		379,417
Tonami Holdings Co. Ltd.		5,000		260,498
Trancom Co. Ltd.		600		36,828
Transport International Holdings Ltd.		220,831		636,036
West Japan Railway Co.		7,000		510,640

				16,749,310

Semiconductors & Semiconductor Equipment - 1.1%
Advantest Corp.		3,100		70,443
ams AG*(a)		5,280		141,992
ASM International NV*		3,477		169,362
ASM Pacific Technology Ltd.		5,000		53,685
ASML Holding NV		13,038		2,292,241
BE Semiconductor Industries NV(a)		69,786		1,814,921
Dialog Semiconductor plc*		7,216		211,388
Disco Corp.		1,700		251,181
Infineon Technologies AG		30,832		686,867
IQE plc*		80,000		82,610
Japan Material Co. Ltd.		3,900		44,830
Lasertec Corp.		500		16,356
Melexis NV(a)		495		34,988
Mimasu Semiconductor Industry Co. Ltd.		16,600		212,629
Nordic Semiconductor ASA*(a)		151,782		527,052
NuFlare Technology, Inc.		3,300		158,284
Rohm Co. Ltd.		3,800		266,765
Sanken Electric Co. Ltd.(a)		13,900		289,802
SCREEN Holdings Co. Ltd.(a)		1,800		76,661
Shindengen Electric Manufacturing Co. Ltd.		8,200		324,368
Shinko Electric Industries Co. Ltd.		5,800		39,864
Siltronic AG		2,114		210,260
SOITEC*		816		62,874
STMicroelectronics NV		22,058		350,929
SUMCO Corp.(a)		20,700		286,449
Tokyo Electron Ltd.		4,300		617,757
Tokyo Seimitsu Co. Ltd.		34,600		1,007,829
Tower Semiconductor Ltd.*		3,423		51,092
u-blox Holding AG*		81		6,923
Ulvac, Inc.		1,700		55,766
X-Fab Silicon Foundries SE*(b)		11,600		69,214

				10,485,382

Software - 0.8%
Altium Ltd.(a)		5,461		99,348
AVEVA Group plc		2,580		92,381
BlackBerry Ltd.*		5,490		44,228
Blue Prism Group plc*(a)		4,832		89,115
Constellation Software, Inc.		660		492,811
Dassault Systemes SE		4,202		528,205
Descartes Systems Group, Inc. (The)*		4,000		124,389
Enghouse Systems Ltd.		3,344		91,563
Fuji Soft, Inc.		1,600		64,909
Gemalto NV*		5,670		329,596


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Software - (continued)
Hilan Ltd.		1,569		39,155
Infomart Corp.(a)		5,500		58,270
IRESS Ltd.		8,665		74,237
Justsystems Corp.		5,600		113,564
Kinaxis, Inc.*		1,436		85,430
Micro Focus International plc		13,038		248,859
Miroku Jyoho Service Co. Ltd.		1,000		22,981
Nemetschek SE		770		98,868
Nice Ltd.*		2,188		240,946
Open Text Corp.		11,562		411,224
Oracle Corp. Japan		800		58,219
RIB Software SE		8,720		126,573
Sage Group plc (The)		30,750		253,218
SAP SE		32,144		3,328,748
SimCorp A/S		2,552		201,786
Software AG		1,320		48,014
Sophos Group plc(b)		11,880		52,696
Systena Corp.		5,200		57,289
Technology One Ltd.		33,615		170,837
Temenos AG (Registered)*		1,377		185,848
Trend Micro, Inc.		2,500		132,776
WiseTech Global Ltd.		4,953		73,458

				8,039,541

Specialty Retail - 2.3%
ABC-Mart, Inc.		700		40,136
Accent Group Ltd.(a)		260,596		247,968
Alpen Co. Ltd.(a)		10,600		162,657
AOKI Holdings, Inc.		12,000		141,138
Arcland Sakamoto Co. Ltd.		28,100		352,961
AT-Group Co. Ltd.		16,400		354,130
Autobacs Seven Co. Ltd.		2,100		35,138
Automotive Holdings Group Ltd.(a)		301,432		341,772
BCA Marketplace plc		694,048		1,830,536
Bic Camera, Inc.(a)		4,100		48,071
Bilia AB, Class A		68,142		599,154
Carasso Motors Ltd.		31,120		145,696
Card Factory plc		326,770		775,019
CECONOMY AG		186,702		878,348
Chiyoda Co. Ltd.		2,800		47,083
Chow Sang Sang Holdings International Ltd.		288,000		422,822
Clas Ohlson AB, Class B(a)		11,920		103,558
DCM Holdings Co. Ltd.(a)		26,600		271,059
Delek Automotive Systems Ltd.		38,245		173,054
Dixons Carphone plc		877		1,592
Dunelm Group plc		324		3,079
EDION Corp.(a)		11,500		116,448
Fast Retailing Co. Ltd.		1,900		869,953
Fenix Outdoor International AG(a)		369		36,503
Fielmann AG		607		41,268
Fnac Darty SA*		13,202		931,641
Geo Holdings Corp.		29,000		443,407
Giordano International Ltd.		1,094,000		549,321
GrandVision NV(b)		11,070		247,440
Halfords Group plc(a)		202,704		617,554
Hennes & Mauritz AB, Class B		29,356		456,211
Hikari Tsushin, Inc.		600		95,819
Hornbach Baumarkt AG		1,840		40,115


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Specialty Retail - (continued)
Hornbach Holding AG & Co. KGaA		6,642		346,010
Industria de Diseno Textil SA		36,244		1,012,672
JB Hi-Fi Ltd.(a)		9,194		149,964
JD Sports Fashion plc		8,827		53,738
JINS, Inc.		900		45,070
Joshin Denki Co. Ltd.		30,700		640,347
Joyful Honda Co. Ltd.		8,400		110,528
Kathmandu Holdings Ltd.		68,445		113,462
Kingfisher plc		52,960		155,147
Kohnan Shoji Co. Ltd.		24,600		620,934
Komeri Co. Ltd.		1,000		25,287
K’s Holdings Corp.		6,100		60,647
Leon’s Furniture Ltd.		16,564		181,620
LIXIL VIVA Corp.		16,400		236,137
L’Occitane International SA		81,000		144,519
Luk Fook Holdings International Ltd.(a)		16,672		48,337
Maisons du Monde SA(b)		39,763		1,028,411
Mekonomen AB(a)		20,090		160,103
Nishimatsuya Chain Co. Ltd.		1,300		10,715
Nitori Holdings Co. Ltd.		2,300		299,256
Nojima Corp.		32,800		646,476
PAL GROUP Holdings Co. Ltd.		1,800		49,586
Pets at Home Group plc		372,690		646,156
Premier Investments Ltd.		6,508		65,580
Sa Sa International Holdings Ltd.(a)		204,700		77,741
Shimachu Co. Ltd.(a)		1,300		37,209
Shimamura Co. Ltd.		1,700		146,991
Super Retail Group Ltd.(a)		102,582		545,275
Superdry plc(a)		67,226		456,311
T-Gaia Corp.		7,600		148,257
United Arrows Ltd.		4,400		155,858
USS Co. Ltd.		6,200		108,470
Vivo Energy plc(b)		326,032		557,114
VT Holdings Co. Ltd.		33,900		133,320
WH Smith plc		3,339		85,825
World Co. Ltd.*		16,600		233,678
Xebio Holdings Co. Ltd.		38,200		447,182
XXL ASA(a)(b)		49,360		165,539
Yamada Denki Co. Ltd.		27,000		132,978
Yellow Hat Ltd.		16,500		388,735

				22,091,836

Technology Hardware, Storage & Peripherals - 0.5%
Brother Industries Ltd.		8,200		138,036
Canon, Inc.		50,800		1,453,562
Eizo Corp.		1,400		54,287
Elecom Co. Ltd.		5,700		152,098
FUJIFILM Holdings Corp.		16,100		690,127
Konica Minolta, Inc.		18,900		189,816
Logitech International SA (Registered)		3,669		134,060
MCJ Co. Ltd.		15,400		103,723
NEC Corp.		11,900		399,109
Neopost SA		29,192		734,240
Ricoh Co. Ltd.		28,000		297,933
Riso Kagaku Corp.		1,700		25,649


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Technology Hardware, Storage & Peripherals - (continued)
S&T AG*		228		5,209
Seiko Epson Corp.		8,300		131,787
Toshiba TEC Corp.		3,800		91,028

				4,600,664

Textiles, Apparel & Luxury Goods - 1.3%
adidas AG		5,658		1,348,445
Asics Corp.		12,200		175,999
Brunello Cucinelli SpA		1,556		56,330
Burberry Group plc		14,350		340,064
Cie Financiere Richemont SA (Registered)		14,022		967,025
Coats Group plc		98,856		114,045
Crystal International Group Ltd.(b)		622,500		337,164
Delta-Galil Industries Ltd.		7,544		218,227
Descente Ltd.		2,800		58,429
EssilorLuxottica SA - IM		2,578		326,281
EssilorLuxottica SA - MO		5,786		734,621
Gildan Activewear, Inc.		9,184		310,982
Goldwin, Inc.(a)		1,200		118,203
Gunze Ltd.		700		29,169
Hermes International		967		581,866
HUGO BOSS AG		511		36,729
Japan Wool Textile Co. Ltd. (The)		52,900		425,319
Kering SA		2,378		1,193,778
Kurabo Industries Ltd.		18,800		405,782
Li & Fung Ltd.		800,000		135,598
LVMH Moet Hennessy Louis Vuitton SE		8,282		2,658,515
Moncler SpA		3,061		115,556
Pandora A/S		8,149		353,667
Puma SE		208		116,113
Regina Miracle International Holdings Ltd.(b)		20,000		16,568
Samsonite International SA*(b)		36,600		107,514
Seiko Holdings Corp.		24,900		524,403
Seiren Co. Ltd.		11,200		186,581
Stella International Holdings Ltd.		482,500		606,914
Swatch Group AG (The)		1,394		400,735
Swatch Group AG (The) (Registered)		1,997		111,314
Tod’s SpA(a)		245		11,414
TSI Holdings Co. Ltd.		4,800		32,329
Wacoal Holdings Corp.		1,500		40,715
Yondoshi Holdings, Inc.		1,400		28,147

				13,224,541

Thrifts & Mortgage Finance - 0.5%
Aareal Bank AG		3,120		100,957
Charter Court Financial Services Group plc(b)		86,838		315,963
Deutsche Pfandbriefbank AG(b)		106,518		1,203,296
Equitable Group, Inc.		7,790		395,580
First National Financial Corp.		12,628		277,022
Genworth Mortgage Insurance Australia Ltd.(a)		47,182		76,374
Home Capital Group, Inc.*(a)		56,908		728,845
OneSavings Bank plc		143,172		708,142
Paragon Banking Group plc(a)		247,804		1,352,139

				5,158,318


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Tobacco - 0.6%
British American Tobacco plc		73,390		2,594,053
Imperial Brands plc		45,920		1,525,238
Japan Tobacco, Inc.		34,900		881,880
Scandinavian Tobacco Group A/S(b)		44,444		576,135
Swedish Match AB		6,396		286,105

				5,863,411

Trading Companies & Distributors - 2.3%
AddTech AB, Class B		4,329		85,267
Advan Co. Ltd.		6,400		55,220
Ahlsell AB(b)		32,129		193,720
Ashtead Group plc		19,844		503,412
BayWa AG		5,184		141,869
Beijer Ref AB(a)		3,795		57,525
Brenntag AG		2,605		123,301
Bunzl plc		13,284		419,387
Cramo OYJ		41,574		795,704
Diploma plc		6,602		110,294
Emeco Holdings Ltd.*		34,080		56,160
Ferguson plc		6,642		445,074
Finning International, Inc.		387		7,337
Grafton Group plc		176,382		1,704,199
Hanwa Co. Ltd.		4,200		116,356
Howden Joinery Group plc		34,626		230,204
IMCD NV		2,440		178,906
Inaba Denki Sangyo Co. Ltd.		800		31,205
Inabata & Co. Ltd.		37,000		487,191
Indutrade AB		2,198		55,198
ITOCHU Corp.		83,100		1,520,662
Iwatani Corp.(a)		2,197		75,198
Japan Pulp & Paper Co. Ltd.		9,700		346,269
Kamei Corp.		16,000		170,247
Kanamoto Co. Ltd.		33,923		938,236
Kanematsu Corp.		80,600		969,451
Kloeckner & Co. SE		52,070		389,256
Marubeni Corp.		101,400		788,801
Mitsubishi Corp.		90,800		2,654,000
Mitsui & Co. Ltd.		99,200		1,615,657
MonotaRO Co. Ltd.		2,800		59,509
Nagase & Co. Ltd.		4,900		71,589
Nippon Steel & Sumikin Bussan Corp.		600		25,085
Nishio Rent All Co. Ltd.		17,500		548,332
Okaya & Co. Ltd.		2,000		176,422
Ramirent OYJ		50,676		347,726
Reece Ltd.		5,999		43,479
Rexel SA		1,782		20,366
Richelieu Hardware Ltd.		1,340		23,988
Russel Metals, Inc.		60,352		1,067,522
Seven Group Holdings Ltd.(a)		10,640		122,501
SIG plc(a)		582,938		913,290
Sojitz Corp.		67,300		258,489
Sumitomo Corp.		59,600		920,862
Toromont Industries Ltd.		3,554		158,013
Toyota Tsusho Corp.		17,300		550,014
Travis Perkins plc		22,437		361,261
Yamazen Corp.		76,000		762,584


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Trading Companies & Distributors - (continued)
Yuasa Trading Co. Ltd.		16,400		479,960

				22,176,298

Transportation Infrastructure - 0.5%
Aena SME SA(b)		2,050		354,723
Aeroports de Paris		1,511		289,891
ASTM SpA		36,261		871,681
Atlantia SpA		18,860		446,668
Atlas Arteria Ltd.(a)		40,012		194,012
Auckland International Airport Ltd.		22,540		114,908
BBA Aviation plc		31,120		96,938
Enav SpA(b)		12,657		64,919
Flughafen Zurich AG (Registered)		320		56,607
Fraport AG Frankfurt Airport Services Worldwide		890		70,404
Getlink SE		16,514		242,168
Hamburger Hafen und Logistik AG		1,220		27,228
Hutchison Port Holdings Trust		461,700		115,425
James Fisher & Sons plc		1,322		33,668
Kamigumi Co. Ltd.		6,500		143,821
Nissin Corp.		9,500		152,936
Port of Tauranga Ltd.		5,225		18,664
Qube Holdings Ltd.(a)		112,446		220,553
SATS Ltd.		19,000		68,390
Societa Iniziative Autostradali e Servizi SpA		4,167		64,262
Sumitomo Warehouse Co. Ltd. (The)(a)		62,400		802,146
Sydney Airport		51,660		247,101
Transurban Group		68,587		608,624
Westshore Terminals Investment Corp.		5,020		83,520

				5,389,257

Water Utilities - 0.1%
Pennon Group plc		2,760		27,695
Severn Trent plc		11,234		295,334
United Utilities Group plc		40,194		439,270

				762,299

Wireless Telecommunication Services - 0.9%
1&1 Drillisch AG		2,659		110,693
Cellcom Israel Ltd.*		21,851		115,292
Freenet AG		2,198		46,861
Hutchison Telecommunications Hong Kong Holdings Ltd.		560,000		221,239
KDDI Corp.		92,000		2,301,902
M1 Ltd.		124,500		189,808
Millicom International Cellular SA, SDR		415		25,963
NTT DOCOMO, Inc.		43,300		1,036,646
Okinawa Cellular Telephone Co.		2,800		99,182
Rogers Communications, Inc., Class B		12,710		687,906
SmarTone Telecommunications Holdings Ltd.		4,740		5,624
SoftBank Group Corp.		25,441		1,993,108
StarHub Ltd.		137,700		182,282
Tele2 AB, Class B		13,980		174,455
VEON Ltd.		48,560		120,356


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Wireless Telecommunication Services - (continued)
Vodafone Group plc		742,920		1,354,306

				8,665,623

TOTAL COMMON STOCKS (Cost $889,944,549)				965,193,539

CLOSED END FUNDS - 0.1%
Capital Markets - 0.0%(e)
HBM Healthcare Investments AG Class A*		1,640		278,706

Equity Real Estate Investment Trusts (REITs) - 0.1%
UK Commercial Property REIT Ltd.(a)		596,796		698,699

TOTAL CLOSED END FUNDS (Cost $865,456)				977,405


	Number of Rights
RIGHTS - 0.0%(e)
Construction & Engineering - 0.0%(e)
ACS Actividades de Construccion y Servicios SA, expiring 2/5/2019*		17,544		9,653

Equity Real Estate Investment Trusts (REITs) - 0.0%(e)
Tritax Big Box REIT plc, expiring 2/8/2019, price 1.30 GBP*(d)		14,158		1,806

TOTAL RIGHTS (Cost $9,123)				11,459


	Number of Warrants
WARRANTS - 0.0%
Pharmaceuticals - 0.0%
Australis Capital, Inc., expiring 8/23/2019, price 0.25 CAD*‡(d) (Cost $–)		597		—


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(f) - 0.9%
REPURCHASE AGREEMENTS - 0.9%
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $5,366,731, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $5,483,795		5,366,351		5,366,351


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS(f) - (continued)
REPURCHASE AGREEMENTS - (continued)
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $2,000,135, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $2,041,813		2,000,000		2,000,000
Societe Generale, 2.50%, dated 1/31/2019, due 2/1/2019, repurchase price $1,000,070, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 4.25%, maturing 9/30/2019 - 11/15/2048; Common Stocks; total market value $1,114,538		1,000,000		1,000,000

				8,366,351

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $8,366,351)				8,366,351

Total Investments - 99.4% (Cost $899,185,479)				974,548,754
Other Assets Less Liabilities - 0.6%				6,173,266

Net Assets - 100.0%				980,722,020

*	Non-income producing security.

‡	Value determined using significant unobservable inputs.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $76,300,049, collateralized in the form of cash with a value of $8,366,351 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $18,586,699 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 12, 2019 – February 15, 2048 and $54,902,028 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 8.50%, and maturity dates ranging from March 15, 2019 – November 2, 2086; a total value of $81,855,078.

(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)

Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. The value of these securities is determined by valuations supplied by a pricing service or brokers, or, if not available, in accordance with procedures established by the Board of Trustees.

(d)	Security fair valued as of January 31, 2019 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2019 amounted to $342,411, which represents approximately 0.03% of net assets of the Fund.

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

(f)	The security was purchased with cash collateral held from securities on loan at January 31, 2019. The total value of securities purchased was $8,366,351.

Percentages shown are based on Net Assets.

Abbreviations


CAD		Canadian Dollar
CHDI		Clearing House Electronic Subregister System (CHESS) Depository Interest
CVA		Dutch Certification
DI		Depositary Interest
FDR		Fiduciary Depositary Receipt
GBP		British Pound
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.
SCA		Limited partnership with share capital
SDR		Swedish Depositary Receipt

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund had the following open futures contracts as of January 31, 2019:

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund had the following outstanding contracts as of January 31, 2019:

FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 98.9%
Aerospace & Defense - 0.2%
Aselsan Elektronik Sanayi ve Ticaret A/S		16,359		81,228
AviChina Industry & Technology Co. Ltd., Class H(a)		114,000		75,693
Bharat Electronics Ltd.		17,280		20,325
Embraer SA		29,700		157,680
Hanwha Aerospace Co. Ltd.*		1,767		49,866
Korea Aerospace Industries Ltd.*		3,018		92,494
LIG Nex1 Co. Ltd.		430		13,140
United Aircraft Corp. PJSC*^		25,155,036		310,026

				800,452

Air Freight & Logistics - 0.5%
Aramex PJSC		24,595		28,459
BEST, Inc., ADR*		4,700		21,902
GD Express Carrier Bhd.		51,838		3,670
Gulf Warehousing Co.		36,234		424,011
Hyundai Glovis Co. Ltd.		1,980		252,694
Imperial Logistics Ltd.		15,741		80,555
Kerry TJ Logistics Co. Ltd.		14,000		17,066
Pos Malaysia Bhd.		20,800		9,801
Sinotrans Ltd., Class H		2,772,000		1,268,238
ZTO Express Cayman, Inc., ADR		15,741		269,486

				2,375,882

Airlines - 0.8%
Aegean Airlines SA		33,759		294,399
Aeroflot PJSC		19,139		31,544
Air Arabia PJSC		2,926,341		796,717
Air China Ltd., Class H		164,000		162,606
AirAsia Group Bhd.		167,000		123,945
Asiana Airlines, Inc.*		130,680		512,666
Azul SA (Preference)*		9,900		100,853
Bangkok Airways PCL, NVDR		52,000		20,306
Cebu Air, Inc.		258,390		436,352
China Airlines Ltd.		87,000		29,876
China Eastern Airlines Corp. Ltd., Class H		132,000		80,579
China Southern Airlines Co. Ltd., Class H		198,000		140,551
Eva Airways Corp.		66,661		32,331
Gol Linhas Aereas Inteligentes SA (Preference)*		3,500		23,751
Grupo Aeromexico SAB de CV*		10,400		13,292
Hanjin Kal Corp.*		4,554		113,374
InterGlobe Aviation Ltd.(b)		4,672		78,029
Jeju Air Co. Ltd.		755		22,223
Jin Air Co. Ltd.		15,246		286,381
Korean Air Lines Co. Ltd.		4,158		136,028
Latam Airlines Group SA		11,682		140,199
SpiceJet Ltd.*		7,072		8,010
Thai Airways International PCL, NVDR*		831,600		354,014


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Airlines - (continued)
Turk Hava Yollari AO*		63,162		188,172
Tway Air Co. Ltd.*		24,750		166,164

				4,292,362

Auto Components - 1.2%
Apollo Tyres Ltd.		14,352		41,238
Balkrishna Industries Ltd.		4,462		50,856
Bharat Forge Ltd.		9,603		66,568
Bosch Ltd.		297		78,725
Cayman Engley Industrial Co. Ltd.		49,796		201,800
Ceat Ltd.		936		14,293
Cheng Shin Rubber Industry Co. Ltd.		99,000		139,051
China First Capital Group Ltd.*		158,000		82,154
Cub Elecparts, Inc.		2,811		25,025
Endurance Technologies Ltd.(b)		1,456		23,501
Exide Industries Ltd.		5,676		18,109
Fuyao Glass Industry Group Co. Ltd., Class H(b)		14,400		50,008
Halla Holdings Corp.		10,692		419,935
Hankook Tire Co. Ltd.		6,534		245,469
Hanon Systems		7,920		91,112
Hota Industrial Manufacturing Co. Ltd.		9,826		38,381
Hyundai Mobis Co. Ltd.		6,237		1,261,246
Hyundai Wia Corp.		1,853		72,694
Kenda Rubber Industrial Co. Ltd.		29,307		28,523
Kumho Tire Co., Inc.*		3,552		16,217
Mahindra CIE Automotive Ltd.*		6,379		21,123
Mando Corp.		2,871		87,602
Minda Industries Ltd.		5,154		20,280
Minth Group Ltd.		28,000		97,417
Motherson Sumi Systems Ltd.		38,016		75,155
MRF Ltd.		36		31,024
Nan Kang Rubber Tire Co. Ltd.		20,000		17,154
Nemak SAB de CV(b)		62,400		49,124
Nexen Tire Corp.		45,639		404,851
Nexteer Automotive Group Ltd.		44,000		66,168
S&T Motiv Co. Ltd.		12,276		376,229
Sebang Global Battery Co. Ltd.		8,118		273,604
SL Corp.*		16,731		303,749
Sri Trang Agro-Industry PCL, NVDR		20,800		10,120
Sundaram Finance Holdings Ltd.		1,310		1,671
Sundram Fasteners Ltd.		3,224		23,931
Tianneng Power International Ltd.		922,000		856,587
Tong Yang Industry Co. Ltd.		27,400		34,516
Tupy SA		89,100		445,647
WABCO India Ltd.		172		15,063
Xinyi Glass Holdings Ltd.		224,000		271,197

				6,447,117

Automobiles - 1.7%
Astra International Tbk. PT		861,300		520,879
BAIC Motor Corp. Ltd., Class H(a)(b)		2,029,500		1,319,083
Bajaj Auto Ltd.		3,069		110,235


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Automobiles - (continued)
Brilliance China Automotive Holdings Ltd.		260,000		244,536
BYD Co. Ltd., Class H		25,500		149,652
China Motor Corp.		61,000		47,455
Chongqing Changan Automobile Co. Ltd., Class B		900,900		456,954
Dongfeng Motor Group Co. Ltd., Class H		236,000		246,927
DRB-Hicom Bhd.		7,300		2,887
Eicher Motors Ltd.		594		158,738
Ford Otomotiv Sanayi A/S		6,454		74,754
Geely Automobile Holdings Ltd.		495,000		836,492
Great Wall Motor Co. Ltd., Class H(a)		297,000		201,364
Guangzhou Automobile Group Co. Ltd., Class H		248,400		268,448
Hero MotoCorp Ltd.		4,059		149,185
Hyundai Motor Co.		13,068		1,520,969
Hyundai Motor Co. (2nd Preference)		3,267		246,937
Hyundai Motor Co. (3rd Preference)		312		20,050
Hyundai Motor Co. (Preference)		1,881		130,004
Kia Motors Corp.		24,057		785,936
Mahindra & Mahindra Ltd.		25,245		241,393
Maruti Suzuki India Ltd.		5,049		471,473
Oriental Holdings Bhd.		326,700		513,659
Ssangyong Motor Co.*		771		3,437
Tata Motors Ltd.*		40,986		104,424
Tata Motors Ltd., Class A*		25,527		33,614
Tofas Turk Otomobil Fabrikasi A/S		6,639		27,013
TVS Motor Co. Ltd.		3,564		25,056
UMW Holdings Bhd.		20,800		29,656
Yadea Group Holdings Ltd.(b)		40,000		15,395
Yulon Motor Co. Ltd.		97,000		57,938

				9,014,543

Banks - 15.0%
Absa Group Ltd.		64,350		896,099
Abu Dhabi Commercial Bank PJSC		173,943		442,790
AFFIN Bank Bhd.		38,816		20,943
Agricultural Bank of China Ltd., Class H		2,574,000		1,210,453
Akbank T.A.S.		229,798		314,336
Akbank T.A.S., ADR		20,016		55,044
Al Khalij Commercial Bank PQSC		209,979		663,167
Alior Bank SA*		2,987		46,249
Alliance Bank Malaysia Bhd.		28,200		29,191
Alpha Bank AE*		67,617		67,734
AMMB Holdings Bhd.		148,500		163,147
AU Small Finance Bank Ltd.(b)		2,288		18,796
Axis Bank Ltd.*		74,547		757,524
Banco Bradesco SA*		36,160		399,638
Banco Bradesco SA (Preference)*		142,100		1,765,523
Banco Davivienda SA (Preference)		3,395		38,953
Banco de Bogota SA		4,059		78,141
Banco de Chile		1,342,256		213,798
Banco de Credito e Inversiones SA		1,980		141,687
Banco del Bajio SA(a)(b)		25,800		54,072


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
Banco do Brasil SA*		108,900		1,550,333
Banco do Estado do Rio Grande do Sul SA (Preference), Class B		19,800		127,731
Banco Santander Chile		2,508,462		203,156
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, Class B		79,200		119,165
Bancolombia SA		24,849		266,706
Bancolombia SA (Preference)		40,788		451,174
Bank Al Habib Ltd.		1,138,500		658,633
Bank Alfalah Ltd.		2,500		885
Bank Central Asia Tbk. PT		465,300		938,259
Bank Danamon Indonesia Tbk. PT		137,800		89,746
Bank Handlowy w Warszawie SA		2,012		37,437
Bank Mandiri Persero Tbk. PT		782,100		417,008
Bank Millennium SA*		25,240		59,946
Bank Negara Indonesia Persero Tbk. PT		663,300		430,807
Bank of Baroda*		45,441		71,848
Bank of China Ltd., Class H		6,831,000		3,151,417
Bank of Chongqing Co. Ltd., Class H		594,000		357,307
Bank of Communications Co. Ltd., Class H		1,923,000		1,629,723
Bank of Gansu Co. Ltd., Class H*(b)		1,782,000		501,895
Bank of India*		15,737		22,747
Bank of Jinzhou Co. Ltd., Class H(b)		238,000		221,721
Bank of Sharjah*		808,137		220,021
Bank of the Philippine Islands		72,270		126,206
Bank of Tianjin Co. Ltd., Class H(b)		818,000		473,284
Bank of Zhengzhou Co. Ltd., Class H*(b)		1,287,000		547,820
Bank Pan Indonesia Tbk. PT*		325,900		32,887
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk. PT		249,600		41,622
Bank Pembangunan Daerah Jawa Timur Tbk. PT		9,345,600		498,298
Bank Polska Kasa Opieki SA		6,633		197,544
Bank Rakyat Indonesia Persero Tbk. PT		2,237,400		616,496
Bank Tabungan Negara Persero Tbk. PT		455,400		89,304
Bank Tabungan Pensiunan Nasional Tbk. PT		97,000		26,311
BDO Unibank, Inc.		71,280		184,663
BIMB Holdings Bhd.		14,780		13,532
BNK Financial Group, Inc.		24,354		160,879
BOC Hong Kong Holdings Ltd.		148,500		569,647
Canara Bank*		11,983		42,148
Capitec Bank Holdings Ltd.		3,069		269,704
Chang Hwa Commercial Bank Ltd.		282,534		164,620
China Banking Corp.		51,084		27,645
China CITIC Bank Corp. Ltd., Class H		1,041,000		673,950
China Construction Bank Corp., Class H		9,702,000		8,667,468


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
China Development Financial Holding Corp.		1,188,000		385,926
China Everbright Bank Co. Ltd., Class H		297,000		142,696
China Merchants Bank Co. Ltd., Class H		338,000		1,473,180
China Minsheng Banking Corp. Ltd., Class H		594,000		453,447
China Zheshang Bank Co. Ltd., Class H		136,000		72,622
Chong Hing Bank Ltd.		223,000		387,075
Chongqing Rural Commercial Bank Co. Ltd., Class H		3,220,000		1,858,947
CIMB Group Holdings Bhd.		207,900		285,253
City Union Bank Ltd.		9,675		25,983
Commercial Bank PQSC (The)		8,514		99,257
Commercial International Bank Egypt SAE		53,361		250,456
Credicorp Ltd.		2,772		672,986
Credit Agricole Egypt SAE		11,960		28,869
Credit Bank of Moscow PJSC*		861,678		70,733
CTBC Financial Holding Co. Ltd.		1,782,000		1,200,703
DCB Bank Ltd.		1,720		4,308
DGB Financial Group, Inc.		16,434		128,205
Doha Bank QPSC		15,963		92,676
Dubai Islamic Bank PJSC		148,500		206,194
E.Sun Financial Holding Co. Ltd.		456,151		317,004
Eurobank Ergasias SA*		143,253		89,420
Far Eastern International Bank		119,838		40,958
Federal Bank Ltd.		59,644		72,039
First Abu Dhabi Bank PJSC		117,414		471,190
First Financial Holding Co. Ltd.		396,000		262,956
Grupo Aval Acciones y Valores SA (Preference)		408,573		140,738
Grupo Elektra SAB de CV(a)		2,475		134,838
Grupo Financiero Banorte SAB de CV, Class O		121,400		677,300
Grupo Financiero Inbursa SAB de CV, Class O(a)		89,100		129,706
Grupo Security SA		33,325		15,153
Habib Bank Ltd.		67,900		73,147
Habib Metropolitan Bank Ltd.		643,500		207,205
Hana Financial Group, Inc.		26,928		966,857
Harbin Bank Co. Ltd., Class H(b)		3,861,000		875,856
Hong Leong Bank Bhd.		19,800		99,773
Hong Leong Financial Group Bhd.		12,600		60,601
Housing & Development Bank		65,637		178,099
Hua Nan Financial Holdings Co. Ltd.		396,000		237,820
Huishang Bank Corp. Ltd., Class H		1,089,000		485,746
ICICI Bank Ltd.		132,660		679,808
IDBI Bank Ltd.*		20,447		15,928
IDFC First Bank Ltd.		76,061		48,340
Indian Bank*		9,984		31,642
Industrial & Commercial Bank of China Ltd., Class H		7,029,000		5,428,491
Industrial Bank of Korea		24,057		308,104
ING Bank Slaski SA		1,683		86,741
Intercorp Financial Services, Inc.(b)		1,040		47,840


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
Itau CorpBanca		6,795,305		68,559
Itau Unibanco Holding SA (Preference)		207,900		2,213,232
Itausa - Investimentos Itau SA		40,709		173,216
Itausa - Investimentos Itau SA (Preference)		198,000		733,776
JB Financial Group Co. Ltd.		13,532		75,526
Jiangxi Bank Co. Ltd., Class H*(b)		28,500		23,463
Karur Vysya Bank Ltd. (The)		13,613		16,834
KB Financial Group, Inc.		35,738		1,543,357
Kiatnakin Bank PCL, NVDR		39,600		86,824
King’s Town Bank Co. Ltd.		99,000		93,936
Komercni banka A/S		3,663		147,861
Kotak Mahindra Bank Ltd.		34,551		610,059
Krung Thai Bank PCL, NVDR		287,100		181,950
LH Financial Group PCL, NVDR		4,662,900		213,426
Malayan Banking Bhd.		207,900		484,220
Masraf Al Rayan QSC		15,048		168,612
mBank SA		693		83,787
MCB Bank Ltd.		49,500		74,440
Mega Financial Holding Co. Ltd.		453,000		392,227
Metropolitan Bank & Trust Co.		78,214		126,079
Moneta Money Bank A/S(b)		17,472		59,552
National Bank of Greece SA*		45,621		51,170
National Bank of Pakistan*		52,000		17,673
Nedbank Group Ltd.		34,452		741,925
Oriental Bank of Commerce*		158,697		213,545
OTP Bank Nyrt		9,207		379,920
Philippine National Bank*		623,700		538,601
Piraeus Bank SA*		412,335		269,686
Postal Savings Bank of China Co. Ltd., Class H(a)(b)		693,000		388,597
Powszechna Kasa Oszczednosci Bank Polski SA		36,135		384,445
Public Bank Bhd.		108,900		658,824
Punjab National Bank*		25,105		27,357
Qatar International Islamic Bank QSC		2,042		38,605
Qatar Islamic Bank SAQ		4,950		214,789
Qatar National Bank QPSC		18,810		1,022,778
RBL Bank Ltd.(b)		3,686		29,472
RHB Bank Bhd.		148,267		196,555
Rizal Commercial Banking Corp.		43,139		21,524
Santander Bank Polska SA		1,287		129,544
Sberbank of Russia PJSC		971,091		3,231,591
Sberbank of Russia PJSC (Preference)		88,011		250,153
Security Bank Corp.		13,750		47,232
Shengjing Bank Co. Ltd., Class H(b)		643,500		282,931
Shinhan Financial Group Co. Ltd.		42,669		1,656,676
Siam Commercial Bank PCL (The), NVDR		138,600		590,023
SinoPac Financial Holdings Co. Ltd.		396,000		133,411
Sociedad Matriz del Banco de Chile SA, Class B		165,330		84,085
Standard Bank Group Ltd.		116,127		1,706,463
State Bank of India*		74,151		306,165


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
Syndicate Bank*		410,553		213,012
Taichung Commercial Bank Co. Ltd.		209,977		71,766
Taishin Financial Holding Co. Ltd.		891,000		394,434
Taiwan Business Bank		180,440		64,901
Taiwan Cooperative Financial Holding Co. Ltd.		396,000		238,465
Thanachart Capital PCL, NVDR		59,400		102,193
Tisco Financial Group PCL, NVDR		20,800		55,092
TMB Bank PCL, NVDR		1,089,000		76,684
Turkiye Garanti Bankasi A/S		188,100		329,254
Turkiye Halk Bankasi A/S		56,582		83,082
Turkiye Is Bankasi A/S, Class C		127,017		139,388
Turkiye Vakiflar Bankasi TAO, Class D		96,704		89,307
Union Bank of India*		295,614		343,955
Union Bank of Taiwan		214,296		69,545
Union Bank of the Philippines		16,100		19,944
Union National Bank PJSC		99,792		141,279
United Bank Ltd.		54,500		60,202
Vijaya Bank		341,451		211,246
VTB Bank PJSC		434,744,651		250,773
Woori Bank(c)		45,299		602,548
Yapi ve Kredi Bankasi A/S*		194,562		73,301
Yes Bank Ltd.		153,549		419,064

				77,585,905

Beverages - 0.6%
Ambev SA		188,100		904,148
Anadolu Efes Biracilik ve Malt Sanayii A/S		10,922		46,508
Arca Continental SAB de CV		13,700		80,076
Becle SAB de CV		34,400		44,165
Carabao Group PCL, NVDR		13,100		16,143
Carlsberg Brewery Malaysia Bhd.		5,100		25,525
China Resources Beer Holdings Co. Ltd.		57,107		200,141
Cia Cervecerias Unidas SA		7,425		101,341
Coca-Cola Embonor SA (Preference), Class B		4,368		11,870
Coca-Cola Femsa SAB de CV, Series L		25,000		157,003
Coca-Cola Icecek A/S		360		2,295
Embotelladora Andina SA (Preference), Class B		9,513		36,964
Emperador, Inc.		145,600		20,956
Fomento Economico Mexicano SAB de CV(a)		79,200		724,104
Fraser & Neave Holdings Bhd.		3,700		30,677
Heineken Malaysia Bhd.		7,700		39,139
Hey Song Corp.		2,000		1,950
Hite Jinro Co. Ltd.*		1,790		27,188
Lotte Chilsung Beverage Co. Ltd.*		15		19,346
Muhak Co. Ltd.		761		9,404
Osotspa PCL, NVDR*		22,400		19,000
Tibet Water Resources Ltd.*		52,000		18,953
Tsingtao Brewery Co. Ltd., Class H		18,000		79,027
United Breweries Ltd.		3,820		76,744
United Spirits Ltd.*		13,860		105,197


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Beverages - (continued)
Varun Beverages Ltd.		774		8,932
Vina Concha y Toro SA		19,880		41,362

				2,848,158

Biotechnology - 0.4%
3SBio, Inc.(b)		33,480		55,894
Amicogen, Inc.*		514		17,347
BeiGene Ltd.*		19,800		193,920
Biocon Ltd.		4,765		43,436
Celltrion, Inc.*		4,340		854,313
China Biologic Products Holdings, Inc.*(a)		1,326		107,658
Genexine Co. Ltd.*		650		41,828
Green Cross Cell Corp.		258		11,663
Green Cross Corp.		300		36,939
Green Cross Holdings Corp.		1,787		38,385
Hugel, Inc.*		104		31,266
iNtRON Biotechnology, Inc.*		920		16,000
Medy-Tox, Inc.		203		94,508
OBI Pharma, Inc.*		9,000		52,732
PharmaEngine, Inc.		4,172		14,327
PharmaEssentia Corp.*		9,000		51,267
Pharmicell Co. Ltd.*		3,360		53,451
Seegene, Inc.*		999		16,969
SillaJen, Inc.*		2,574		174,430
STCUBE*		750		16,110
TaiMed Biologics, Inc.*		8,000		43,878
Tanvex BioPharma, Inc.*		9,000		20,097
ViroMed Co. Ltd.*		649		160,989

				2,147,407

Building Products - 0.2%
Astral Poly Technik Ltd.		1,823		28,996
China Lesso Group Holdings Ltd.		97,000		54,145
Elementia SAB de CV*(b)		10,400		6,723
IS Dongseo Co. Ltd.		1,106		30,069
Kajaria Ceramics Ltd.		2,608		19,730
KCC Corp.		297		87,286
Kyung Dong Navien Co. Ltd.		208		7,964
LG Hausys Ltd.		7,425		467,128
National Central Cooling Co. PJSC		13,871		6,571
Taiwan Glass Industry Corp.		56,000		23,788
Trakya Cam Sanayii A/S		492,525		345,421

				1,077,821

Capital Markets - 2.1%
B3 SA - Brasil Bolsa Balcao*		89,100		769,731
Banco BTG Pactual SA*		5,200		42,239
Bolsa Mexicana de Valores SAB de CV		24,100		48,407
Brait SE*		9,064		19,235
Bursa Malaysia Bhd.		17,700		31,545
Capital Securities Corp.		209,680		62,382
China Bills Finance Corp.		71,000		32,124
China Cinda Asset Management Co. Ltd., Class H		792,000		203,887
China Ding Yi Feng Holdings Ltd.*		40,000		140,441
China Everbright Ltd.		72,000		135,252
China Galaxy Securities Co. Ltd., Class H		346,500		178,843


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Capital Markets - (continued)
China Huarong Asset Management Co. Ltd., Class H(b)		792,000		160,485
China International Capital Corp. Ltd., Class H(b)		39,600		78,830
China Merchants Securities Co. Ltd., Class H(b)		1,069,200		1,460,719
CITIC Securities Co. Ltd., Class H(a)		198,000		402,223
Coronation Fund Managers Ltd.		7,009		21,803
CSC Financial Co. Ltd., Class H(a)(b)		1,039,500		765,712
Daishin Securities Co. Ltd.		4,440		46,289
Daishin Securities Co. Ltd. (Preference)		1,603		12,520
Daou Technology, Inc.		2,355		44,765
Dubai Financial Market PJSC		67,052		15,298
Edelweiss Financial Services Ltd.		22,568		48,884
Egypt Kuwait Holding Co. SAE		36,677		46,250
Egyptian Financial Group-Hermes Holding Co.*		673,596		651,130
Everbright Securities Co. Ltd., Class H(b)		356,400		317,034
GF Securities Co. Ltd., Class H		118,800		169,569
Guotai Junan International Holdings Ltd.(a)		4,059,000		708,684
Guotai Junan Securities Co. Ltd., Class H(b)		19,600		41,764
Haitong Securities Co. Ltd., Class H		277,200		311,584
Hanwha Investment & Securities Co. Ltd.*		161,370		350,253
HDFC Asset Management Co. Ltd.*(b)		862		16,515
Huatai Securities Co. Ltd., Class H(b)		59,400		110,674
IIFL Holdings Ltd.		3,988		24,101
Indiabulls Ventures Ltd.		9,273		44,364
Investec Ltd.		12,573		82,487
Jih Sun Financial Holdings Co. Ltd.		96,907		28,547
JM Financial Ltd.		11,544		12,555
JSE Ltd.		4,205		52,035
KIWOOM Securities Co. Ltd.*		448		34,668
Korea Investment Holdings Co. Ltd.*		3,663		211,685
Kresna Graha Investama Tbk. PT*		187,300		8,311
Macquarie Korea Infrastructure Fund		14,850		131,864
Meritz Securities Co. Ltd.		29,106		119,940
Mirae Asset Daewoo Co. Ltd.		33,462		228,263
Moscow Exchange MICEX-RTS PJSC*		71,973		102,026
NH Investment & Securities Co. Ltd.*		7,227		90,609
NH Investment & Securities Co. Ltd. (Preference)*		1,352		10,632
Norte Grande SA		1,317		8
Orient Securities Co. Ltd., Class H(b)		19,600		13,763


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Capital Markets - (continued)
Pioneers Holding for Financial Investments SAE*		556,875		204,933
Pool Advista Indonesia Tbk. PT*		39,300		13,079
President Securities Corp.		1,188,000		510,444
PSG Konsult Ltd.		3,256		2,625
Reinet Investments SCA		10,494		158,683
Samsung Securities Co. Ltd.		5,544		166,671
Shinyoung Securities Co. Ltd.		5,544		295,972
Sociedad de Inversiones Oro Blanco SA		39,496,347		242,960
Warsaw Stock Exchange		1,040		11,202
Waterland Financial Holdings Co. Ltd.		150,929		48,637
Yuanta Financial Holding Co. Ltd.		1,089,000		602,607
Yuanta Securities Korea Co. Ltd.*		7,207		22,185
Zeder Investments Ltd.		19,109		6,480

				10,927,407

Chemicals - 3.4%
AECI Ltd.		140,778		944,178
AK Holdings, Inc.		6,732		308,571
Akzo Nobel India Ltd.		832		20,588
Alpek SAB de CV*		14,100		19,325
Asian Paints Ltd.		11,880		235,963
Barito Pacific Tbk. PT		653,400		122,052
BASF India Ltd.		836		15,901
Batu Kawan Bhd.		22,200		92,139
Berger Paints India Ltd.		10,816		48,476
Braskem SA (Preference), Class A		9,900		142,026
Castrol India Ltd.		9,090		20,277
Chambal Fertilizers and Chemicals Ltd.		5,408		13,387
China General Plastics Corp.		430,550		329,343
China Lumena New Materials Corp.*‡(c)		888,000		—
China Petrochemical Development Corp.*		202,700		70,598
China Steel Chemical Corp.		8,000		35,285
Ciech SA		32,868		463,771
Coremax Corp.		4,228		12,937
Coromandel International Ltd.		1,898		12,005
D&L Industries, Inc.		110,800		24,112
DCM Shriram Ltd.		868		4,096
Dongjin Semichem Co. Ltd.*		44,352		346,796
Dongyue Group Ltd.		1,485,000		946,258
Eastern Polymer Group PCL, NVDR		52,200		12,531
Ecopro Co. Ltd.*		624		18,255
Engro Corp. Ltd.		29,700		72,069
Engro Fertilizers Ltd.		69,500		38,180
Eternal Materials Co. Ltd.		46,010		37,366
Everlight Chemical Industrial Corp.		54,000		28,475
Fauji Fertilizer Co. Ltd.		61,000		47,132
Finolex Industries Ltd.		145		1,047
Foosung Co. Ltd.*		1,768		13,125
Formosa Chemicals & Fibre Corp.		169,000		585,860
Formosa Plastics Corp.		183,000		607,588
Fufeng Group Ltd.(a)		1,538,000		682,101
Grand Pacific Petrochemical		1,030,000		839,852


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Chemicals - (continued)
Grupa Azoty SA		60,786		605,298
Gujarat Fluorochemicals Ltd.		1,704		20,678
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.		47,025		217,173
Hansol Chemical Co. Ltd.		528		40,336
Hanwha Chemical Corp.		9,603		193,760
Himadri Speciality Chemical Ltd.		7,638		12,614
Huabao International Holdings Ltd.		990,000		450,419
Huchems Fine Chemical Corp.		2,040		42,261
Indorama Ventures PCL, NVDR		95,000		145,955
International CSRC Investment Holdings Co.		53,031		74,226
Kansai Nerolac Paints Ltd.		7,592		47,648
Kolon Industries, Inc.		1,782		94,974
Korea Petrochemical Ind Co. Ltd.		420		63,982
Kumho Petrochemical Co. Ltd.		1,584		128,127
LG Chem Ltd.		1,980		654,869
LG Chem Ltd. (Preference)		396		72,071
Lotte Chemical Corp.		1,485		400,395
Lotte Chemical Titan Holding Bhd.(b)		17,500		18,030
LOTTE Fine Chemical Co. Ltd.		1,649		67,137
Mexichem SAB de CV		49,500		132,879
Misr Fertilizers Production Co. SAE		1,204		5,079
Namhae Chemical Corp.*		1,040		13,133
Nan Ya Plastics Corp.		236,000		586,130
OCI Co. Ltd.*		1,782		171,369
Omnia Holdings Ltd.		2,184		13,906
Oriental Union Chemical Corp.		34,000		29,051
Petkim Petrokimya Holding A/S		70,602		78,706
Petronas Chemicals Group Bhd.		99,000		204,236
PhosAgro PJSC		1,080		42,604
PI Industries Ltd.		1,268		15,199
Pidilite Industries Ltd.		4,950		77,935
PTT Global Chemical PCL, NVDR		148,500		323,214
Rain Industries Ltd.		101,970		171,910
Sasol Ltd.		24,057		725,916
Scientex Bhd.		8,700		18,691
Shinkong Synthetic Fibers Corp.		1,782,000		681,559
Sidi Kerir Petrochemicals Co.		3,797		3,814
Sinofert Holdings Ltd.*(a)		172,000		20,166
Sinopec Shanghai Petrochemical Co. Ltd., Class H		266,000		125,768
SK Chemicals Co. Ltd.		213		13,113
SK Discovery Co. Ltd.		14,454		376,078
SK Materials Co. Ltd.		312		43,716
SKC Co. Ltd.		1,946		67,685
SKCKOLONPI, Inc.		520		16,124
Sociedad Quimica y Minera de Chile SA (Preference), Class B		8,217		351,611
Soda Sanayii A/S		30,857		42,745
Solar Industries India Ltd.		1,040		14,744
Songwon Industrial Co. Ltd.		20,493		405,200
Soulbrain Co. Ltd.		416		19,031
SRF Ltd.		774		21,890
Supreme Industries Ltd.		1,204		16,836
Taekwang Industrial Co. Ltd.*		52		63,513
Taiwan Fertilizer Co. Ltd.*		37,000		52,209


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Chemicals - (continued)
Taiwan Styrene Monomer		594,000		467,907
Tata Chemicals Ltd.		1,541		14,610
TOA Paint Thailand PCL, NVDR		12,000		13,731
TSRC Corp.		34,000		30,933
Unid Co. Ltd.		7,524		318,839
Unipar Carbocloro SA (Preference)		55,100		567,215
UPC Technology Corp.		990,000		396,367
UPL Ltd.		15,147		167,507
USI Corp.		990,000		383,477

				17,867,964

Commercial Services & Supplies - 0.2%
China Everbright International Ltd.(a)		321,444		322,808
Cleanaway Co. Ltd.		3,000		16,552
Country Garden Services Holdings Co. Ltd.*		45,887		70,643
Eastern Media International Corp.*		396,000		170,148
ECOVE Environment Corp.		1,000		5,778
Greentown Service Group Co. Ltd.(b)		68,000		62,049
KEPCO Plant Service & Engineering Co. Ltd.*		1,144		34,907
S-1 Corp.		891		82,481
Sunny Friend Environmental Technology Co. Ltd.		3,000		24,071
Taiwan Secom Co. Ltd.		11,165		31,400
Taiwan Shin Kong Security Co. Ltd.		8,240		10,192

				831,029

Communications Equipment - 0.3%
Accton Technology Corp.		21,000		73,483
Advanced Ceramic X Corp.		1,000		7,894
Arcadyan Technology Corp.		198,000		609,052
BYD Electronic International Co. Ltd.		48,500		59,584
Sangsangin Co. Ltd.*		753		11,843
Sercomm Corp.		269,000		556,887
Sterlite Technologies Ltd.		5,616		19,461
Wistron NeWeb Corp.		10,093		24,771
Yangtze Optical Fibre and Cable Joint Stock Ltd. Co., Class H(b)		6,000		18,390
ZTE Corp., Class H*		23,400		47,058

				1,428,423

Construction & Engineering - 1.8%
Acter Co. Ltd.		61,000		339,534
BES Engineering Corp.		55,000		13,051
Budimex SA		460		13,402
CH Karnchang PCL, NVDR		737		607
China Communications Construction Co. Ltd., Class H		396,000		396,167
China Energy Engineering Corp. Ltd., Class H		7,920,000		958,874
China Railway Construction Corp. Ltd., Class H		169,500		235,024
China Railway Group Ltd., Class H		346,000		322,775
China State Construction International Holdings Ltd.(a)		153,750		146,173
Continental Holdings Corp.		566,000		267,142


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Construction & Engineering - (continued)
CTCI Corp.		23,000		35,187
Daelim Industrial Co. Ltd.		2,475		236,901
Daewoo Engineering & Construction Co. Ltd.*		21,186		98,633
Dilip Buildcon Ltd.(b)		1,768		7,982
Engineers India Ltd.		7,880		12,476
Gamuda Bhd.		83,200		56,063
GEK Terna Holding Real Estate Construction SA*		2,367		11,733
GMR Infrastructure Ltd.*		102,144		21,831
GS Engineering & Construction Corp.		6,237		263,741
HDC Holdings Co. Ltd.*		3,003		50,336
Hyundai Engineering & Construction Co. Ltd.		6,534		365,267
IJM Corp. Bhd.		147,900		66,078
IRB Infrastructure Developers Ltd.		191,763		390,294
Kalpataru Power Transmission Ltd.		542		2,803
KEC International Ltd.		516		1,777
KEPCO Engineering & Construction Co., Inc.*		602		14,148
Kumho Industrial Co. Ltd.		24,948		292,609
Larsen & Toubro Ltd.		13,663		252,483
Larsen & Toubro Ltd., GDR(b)		296		5,446
Malaysian Resources Corp. Bhd.		83,200		13,813
Metallurgical Corp. of China Ltd., Class H		3,663,000		1,003,664
NCC Ltd.		15,600		17,449
PP Persero Tbk. PT		3,405,600		570,342
Salfacorp SA		10,456		16,885
Samsung Engineering Co. Ltd.*		7,173		107,983
Sinopec Engineering Group Co. Ltd., Class H		38,000		37,290
Sino-Thai Engineering & Construction PCL, NVDR*		41,571		30,204
Taeyoung Engineering & Construction Co. Ltd.		53,856		643,765
Tekfen Holding A/S		18,899		90,042
Totalindo Eka Persada Tbk. PT*		262,900		14,958
United Integrated Services Co. Ltd.		198,000		605,830
Voltas Ltd.		5,928		45,102
Waskita Karya Persero Tbk. PT		385,600		54,504
Wijaya Karya Persero Tbk. PT		4,009,500		543,783
Wilson Bayly Holmes-Ovcon Ltd.		67,518		712,323

				9,386,474

Construction Materials - 1.6%
ACC Ltd.		1,926		38,546
Ambuja Cements Ltd.		26,136		77,137
Anhui Conch Cement Co. Ltd., Class H		49,500		267,476
Asia Cement China Holdings Corp.		544,500		392,760
Asia Cement Co. Ltd.		2,277		260,924
Asia Cement Corp.		104,020		123,416
BBMG Corp., Class H(a)		2,970,000		1,014,388
Cahya Mata Sarawak Bhd.		32,900		24,659
Cementos Argos SA		26,160		68,047
Cementos Argos SA (Preference)		10,296		22,208
Cementos Pacasmayo SAA		4,992		10,124


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Construction Materials - (continued)
CEMEX Latam Holdings SA*		7,998		11,226
Cemex SAB de CV*(a)		663,300		360,090
Century Textiles & Industries Ltd.		1,872		20,889
Chia Hsin Cement Corp.		693,000		311,293
China National Building Material Co. Ltd., Class H		342,050		271,576
China Resources Cement Holdings Ltd.		198,000		200,102
Corp. Moctezuma SAB de CV		6,900		23,371
DG Khan Cement Co. Ltd.		297,000		184,174
Eagle Cement Corp.		62,400		19,159
Eugene Corp.		74,943		503,145
Goldsun Building Materials Co. Ltd.		1,579,000		446,128
Grasim Industries Ltd.		15,025		152,320
Grupo Argos SA		28,710		171,542
Grupo Argos SA (Preference)		16,647		83,066
Grupo Cementos de Chihuahua SAB de CV(a)		10,800		59,607
Huaxin Cement Co. Ltd., Class B		287,100		523,383
Indocement Tunggal Prakarsa Tbk. PT		69,300		95,351
Lucky Cement Ltd.		10,400		35,314
Magnesita Refratarios SA*(c)		9,700		158,170
POSCO Chemtech Co. Ltd.		1,144		61,177
PPC Ltd.*		54,720		22,886
Prism Johnson Ltd.		10,157		10,204
Qatar National Cement Co. QSC		360		7,321
Qatari Investors Group QSC		1,720		12,598
Ramco Cements Ltd. (The)		3,536		29,866
Semen Baturaja Persero Tbk. PT		86,000		10,002
Semen Indonesia Persero Tbk. PT		118,800		107,768
Shree Cement Ltd.		396		87,500
Siam Cement PCL (The), NVDR		25,300		378,984
Siam City Cement PCL, NVDR		4,700		34,901
Ssangyong Cement Industrial Co. Ltd.		6,660		39,506
Taiwan Cement Corp.		396,000		481,441
Titan Cement Co. SA*		1,371		30,928
TPI Polene PCL, NVDR		377,200		25,837
UltraTech Cement Ltd.		4,653		230,252
Union Andina de Cementos SAA		32,705		25,547
Waskita Beton Precast Tbk. PT		10,880,100		299,013
West China Cement Ltd.		2,970,000		423,923

				8,249,245

Consumer Finance - 0.8%
51 Credit Card, Inc.*		841,500		500,823
AEON Credit Service M Bhd.		4,400		17,145
AEON Thana Sinsap Thailand PCL, NVDR		3,500		19,829
Bajaj Finance Ltd.		7,227		261,648
Bharat Financial Inclusion Ltd.*		3,621		48,180
Cholamandalam Investment and Finance Co. Ltd.		1,997		32,917
Chong Sing Holdings FinTech Gr*(a)		17,820,000		177,139
Gentera SAB de CV(a)		1,277,100		936,268
KRUK SA		858		38,722


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Consumer Finance - (continued)
Krungthai Card PCL, NVDR		36,800		34,748
LexinFintech Holdings Ltd., ADR*(a)		62,154		607,866
Mahindra & Mahindra Financial Services Ltd.		12,814		72,881
Manappuram Finance Ltd.		18,492		23,973
Muangthai Capital PCL, NVDR		39,400		59,902
Muthoot Finance Ltd.		3,784		26,574
PPDAI Group, Inc., ADR*		79,200		281,952
Safmar Financial Investment		67,122		571,183
Samsung Card Co. Ltd.		2,772		83,086
Shriram City Union Finance Ltd.		1,537		37,030
Shriram Transport Finance Co. Ltd.		5,940		84,803
Srisawad Corp. PCL, NVDR		24,821		38,730
Sundaram Finance Ltd.		1,310		25,864
Transaction Capital Ltd.		17,028		22,135
Unifin Financiera SAB de CV SOFOM ENR(a)		128,700		288,266
Yixin Group Ltd.*(b)		122,000		30,940
Yulon Finance Corp.		11,000		35,985

				4,358,589

Containers & Packaging - 0.4%
Cheng Loong Corp.		42,000		26,591
Dongwon Systems Corp.		6,435		171,480
Greatview Aseptic Packaging Co. Ltd.		12,000		7,616
Klabin SA		29,700		151,566
Lock&Lock Co. Ltd.		728		13,053
Nampak Ltd.*		819,423		863,266
Taiwan Hon Chuan Enterprise Co. Ltd.		344,000		556,509
Ton Yi Industrial Corp.		38,000		16,080
Vitro SAB de CV, Series A		148,500		410,968

				2,217,129

Distributors - 0.1%
Dah Chong Hong Holdings Ltd.		1,089,000		399,699
Inter Cars SA		402		23,382

				423,081

Diversified Consumer Services - 0.4%
China Education Group Holdings Ltd.*(b)		31,000		43,695
China Maple Leaf Educational Systems Ltd.		56,000		24,051
China Yuhua Education Corp. Ltd.(b)		66,000		26,495
Curro Holdings Ltd.*		7,904		17,154
Daekyo Co. Ltd.		1,248		7,392
Estacio Participacoes SA		12,500		106,717
Fu Shou Yuan International Group Ltd.		42,000		34,310
Kroton Educacional SA		69,300		217,442
Lung Yen Life Service Corp.		14,000		26,613
New Oriental Education & Technology Group, Inc., ADR*		4,851		373,721
Ser Educacional SA(b)		79,200		473,965
TAL Education Group, ADR*		15,147		470,011
Virscend Education Co. Ltd.(b)		67,000		32,191


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Diversified Consumer Services - (continued)
Wisdom Education International Holdings Co. Ltd.(b)		40,000		16,262

				1,870,019

Diversified Financial Services - 1.2%
Aditya Birla Capital Ltd.*		14,160		16,127
Al Waha Capital PJSC		1,221,957		598,835
Amanat Holdings PJSC		49,192		14,732
Ayala Corp.		9,900		176,114
Bajaj Holdings & Investment Ltd.		1,005		40,232
Chailease Holding Co. Ltd.		50,260		184,867
China Shandong Hi-Speed Financial Group Ltd.*		11,286,000		366,769
Corp. Financiera Colombiana SA*		4,814		29,445
Far East Horizon Ltd.		99,000		102,196
FirstRand Ltd.		145,530		760,989
Fubon Financial Holding Co. Ltd.		650,000		942,581
Grupo de Inversiones Suramericana SA		21,087		234,067
Grupo de Inversiones Suramericana SA (Preference)		9,504		101,212
GT Capital Holdings, Inc.		6,930		141,898
Haci Omer Sabanci Holding A/S		123,156		222,951
Hankook Tire Worldwide Co. Ltd.		2,460		35,596
IDFC Ltd.		966,438		538,118
Inversiones La Construccion SA		3,744		69,930
L&T Finance Holdings Ltd.		25,376		46,902
Meritz Financial Group, Inc.		4,139		45,941
Metro Pacific Investments Corp.		734,000		68,456
NICE Holdings Co. Ltd.*		728		11,712
Power Finance Corp. Ltd.		52,908		77,033
PSG Group Ltd.		6,930		130,840
REC Ltd.		55,044		96,513
Reliance Capital Ltd.		150,876		411,451
Remgro Ltd.		21,879		347,954
RMB Holdings Ltd.		31,185		196,252

				6,009,713

Diversified Telecommunication Services - 1.2%
Asia Pacific Telecom Co. Ltd.*		104,000		23,764
Bharti Infratel Ltd.		34,056		139,945
China Communications Services Corp. Ltd., Class H		214,000		200,454
China Telecom Corp. Ltd., Class H		1,248,000		674,362
China Tower Corp. Ltd., Class H*(b)		1,876,000		401,657
China Unicom Hong Kong Ltd.		242,000		276,027
Chunghwa Telecom Co. Ltd.		159,000		553,781
CITIC Telecom International Holdings Ltd.		1,881,000		683,198
Emirates Telecommunications Group Co. PJSC		72,963		338,097
Hellenic Telecommunications Organization SA		10,197		128,121
Inscobee, Inc.*		5,160		26,202
Jasmine International PCL, NVDR		76,400		12,471
LG Uplus Corp.		19,206		260,648
Link Net Tbk. PT		31,200		9,736
Magyar Telekom Telecommunications plc		544,896		921,537


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Diversified Telecommunication Services - (continued)
O2 Czech Republic A/S		3,092		33,545
Oi SA*		439,300		156,772
Oi SA (Preference)*		10,800		3,973
Ooredoo QPSC		9,405		196,042
Orange Polska SA*		33,592		50,655
Rostelecom PJSC		96,129		106,070
Rostelecom PJSC (Preference)		15,392		14,257
Tata Communications Ltd.		5,003		34,888
Telecom Egypt Co.		37,657		29,781
Telefonica Brasil SA (Preference)		17,000		227,224
Telekom Malaysia Bhd.		60,000		42,627
Telekomunikasi Indonesia Persero Tbk. PT		2,049,300		572,000
Telesites SAB de CV*(a)		60,200		37,965
Telkom SA SOC Ltd.		27,225		137,705
TIME dotCom Bhd.		18,200		36,036
Tower Bersama Infrastructure Tbk. PT		81,300		28,627
True Corp. PCL, NVDR		524,700		85,652

				6,443,819

Electric Utilities - 1.6%
Adani Transmission Ltd.*		14,456		43,376
Alupar Investimento SA		3,500		20,705
Celsia SA ESP		11,648		16,068
Centrais Eletricas Brasileiras SA*		29,700		304,925
Centrais Eletricas Brasileiras SA (Preference), Class B*		19,800		221,220
CESC Ltd.		1,337		13,045
CEZ A/S(a)		6,732		170,065
Cia de Transmissao de Energia Eletrica Paulista (Preference)		1,900		41,001
Cia Energetica de Minas Gerais		6,200		27,606
Cia Energetica de Minas Gerais (Preference)		39,600		150,560
Cia Energetica do Ceara (Preference)		13,700		189,133
Cia Paranaense de Energia (Preference)		8,600		83,361
EDP - Energias do Brasil SA		29,700		136,890
Enea SA*		17,968		51,916
Enel Americas SA		2,426,094		497,714
Enel Chile SA		2,384,118		252,216
Energa SA*		15,903		43,423
Energisa SA		12,000		137,367
Enerjisa Enerji A/S(b)		298,386		322,835
Engie Energia Chile SA		15,830		31,991
Equatorial Energia SA		6,800		164,549
Federal Grid Co. Unified Energy System PJSC		27,804,080		70,564
First Philippine Holdings Corp.		272,250		380,345
Inter RAO UES PJSC		2,861,694		167,168
Interconexion Electrica SA ESP		37,125		166,366
Korea District Heating Corp.*		3,663		189,627
Korea Electric Power Corp.		23,067		715,240
Light SA		98,500		539,170
Manila Electric Co.		12,870		90,344
Mosenergo PJSC		10,002,564		333,476


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Electric Utilities - (continued)
PGE Polska Grupa Energetyczna SA*		73,458		234,597
Power Grid Corp. of India Ltd.		72,270		191,650
Public Power Corp. SA*		142,362		212,686
Reliance Infrastructure Ltd.		164,637		622,597
ROSSETI PJSC		2,682,436		40,217
RusHydro PJSC		14,555,277		114,035
Tata Power Co. Ltd. (The)		50,856		50,985
Tauron Polska Energia SA*		1,343,727		857,548
Tenaga Nasional Bhd.		108,900		342,971
Torrent Power Ltd.		5,978		20,787
Transmissora Alianca de Energia Eletrica SA		14,200		100,259

				8,360,598

Electrical Equipment - 0.4%
ABB India Ltd.		2,058		36,817
AcBel Polytech, Inc.		495,000		323,861
Amara Raja Batteries Ltd.		2,733		28,627
Bharat Heavy Electricals Ltd.		37,473		34,090
Bizlink Holding, Inc.		5,103		29,733
China High Speed Transmission Equipment Group Co. Ltd.		20,000		20,595
Doosan Heavy Industries & Construction Co. Ltd.*		6,499		66,295
ElSewedy Electric Co.		80,102		80,057
Feelux Co. Ltd.*		1,427		15,262
Finolex Cables Ltd.		2,600		15,179
Fullshare Holdings Ltd.*(a)		305,000		69,188
GE T&D India Ltd.		3,640		15,027
Graphite India Ltd.		2,600		20,675
Gunkul Engineering PCL, NVDR		120,400		12,024
Havells India Ltd.		12,474		125,135
HEG Ltd.		645		21,703
Honbridge Holdings Ltd.*		208,000		27,568
Korea Electric Terminal Co. Ltd.		8,316		315,405
Kung Long Batteries Industrial Co. Ltd.		5,000		25,552
LS Corp.		2,376		122,361
LS Industrial Systems Co. Ltd.		608		28,634
Shanghai Electric Group Co. Ltd., Class H		54,000		18,856
Taihan Electric Wire Co. Ltd.*		7,800		7,851
Teco Electric and Machinery Co. Ltd.		146,000		88,156
V-Guard Industries Ltd.		1,032		2,854
Voltronic Power Technology Corp.		3,323		57,003
Walsin Lihwa Corp.		198,000		112,787
Zhuzhou CRRC Times Electric Co. Ltd., Class H		19,800		109,766

				1,831,061

Electronic Equipment, Instruments & Components - 3.2%
AAC Technologies Holdings, Inc.		29,500		182,338
Asia Optical Co., Inc.		13,000		31,102
AU Optronics Corp.		396,000		153,391
Aurora Corp.		4,900		14,291
BH Co. Ltd.*		30,789		473,187
Career Technology MFG. Co. Ltd.		11,000		9,542
Chang Wah Electromaterials, Inc.		41,000		174,829


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Electronic Equipment, Instruments & Components - (continued)
Cheng Uei Precision Industry Co. Ltd.		430,000		335,221
Chilisin Electronics Corp.*		257,490		688,953
China Railway Signal & Communication Corp. Ltd., Class H(b)		43,008		34,037
China Youzan Ltd.*		232,000		16,262
Chin-Poon Industrial Co. Ltd.		396,000		480,797
Chroma ATE, Inc.		15,000		58,591
Chunghwa Precision Test Tech Co. Ltd.		1,000		13,834
Compeq Manufacturing Co. Ltd.		116,000		77,783
Concraft Holding Co. Ltd.		3,355		12,668
Coretronic Corp.		523,000		774,588
Daea TI Co. Ltd.		1,964		14,916
Daeduck Electronics Co.		74,448		685,833
Delta Electronics Thailand PCL, NVDR		25,200		56,058
Delta Electronics, Inc.		81,000		398,125
E Ink Holdings, Inc.		73,000		76,394
Elite Material Co. Ltd.		367,000		955,683
FLEXium Interconnect, Inc.		27,138		66,428
Flytech Technology Co. Ltd.		235		556
Foxconn Technology Co. Ltd.		99,000		190,772
General Interface Solution Holding Ltd.		24,000		81,637
Genius Electronic Optical Co. Ltd.		3,000		22,069
G-treeBNT Co. Ltd.*		525		12,103
Hana Microelectronics PCL, NVDR		22,400		24,736
Hannstar Board Corp.		356,000		276,953
HannStar Display Corp.		297,000		66,222
Hollysys Automation Technologies Ltd.		1,700		35,054
Holy Stone Enterprise Co. Ltd.		4,000		14,452
Hon Hai Precision Industry Co. Ltd.*		1,119,920		2,551,776
Iljin Materials Co. Ltd.*		936		34,112
Inari Amertron Bhd.		78,000		28,564
Innolux Corp.		396,000		134,700
ITEQ Corp.		297,000		589,717
KCE Electronics PCL, NVDR		27,600		23,190
Kingboard Holdings Ltd.		66,500		232,636
Kingboard Laminates Holdings Ltd.		64,000		65,903
L&F Co. Ltd.		574		17,618
Largan Precision Co. Ltd.		4,000		492,163
LG Display Co. Ltd.		19,701		334,651
LG Innotek Co. Ltd.		746		65,371
Lotes Co. Ltd.		3,256		22,575
Merry Electronics Co. Ltd.		10,161		51,596
Pan-International Industrial Corp.		495,000		306,943
Partron Co. Ltd.		1,768		14,396
Samsung Electro-Mechanics Co. Ltd.		2,376		230,628
Samsung SDI Co. Ltd.		2,376		477,271
SFA Engineering Corp.		2,178		80,159
Simplo Technology Co. Ltd.		6,200		44,803
Sinbon Electronics Co. Ltd.		3,253		9,011


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Electronic Equipment, Instruments & Components - (continued)
Sunny Optical Technology Group Co. Ltd.		29,700		291,826
Supreme Electronics Co. Ltd.		506,000		480,117
Synnex Technology International Corp.		117,000		143,958
Taiwan Union Technology Corp.		7,000		21,760
Telcon RF Pharmaceutical, Inc.*		2,328		17,052
Thinking Electronic Industrial Co. Ltd.		99,000		252,966
Tong Hsing Electronic Industries Ltd.		6,000		21,581
Tongda Group Holdings Ltd.(a)		5,310,000		717,321
TPK Holding Co. Ltd.		416,000		689,237
Tripod Technology Corp.		39,000		104,096
Unimicron Technology Corp.		75,000		54,929
Unitech Printed Circuit Board Corp.		693,000		340,618
VS Industry Bhd.		30,000		5,933
Wah Lee Industrial Corp.		219,000		358,566
Walsin Technology Corp.		10,378		57,765
Wintek Corp.*‡(c)		64,000		—
WiSoL Co. Ltd.		23,859		336,661
WPG Holdings Ltd.*		125,440		159,038
WT Microelectronics Co. Ltd.		56,182		74,705
Yageo Corp.		11,575		121,132
Zhen Ding Technology Holding Ltd.		43,150		110,960

				16,677,409

Energy Equipment & Services - 0.3%
Bumi Armada Bhd.*		3,653,100		178,374
China Oilfield Services Ltd., Class H		76,000		75,160
Dialog Group Bhd.		168,300		123,267
Gulf International Services QSC*		4,696		21,524
Sapura Energy Bhd.*		5,435,100		351,636
Serba Dinamik Holdings Bhd.		25,800		23,369
TMK PJSC		465,795		382,004
Wison Engineering Services Co. Ltd.		1,188,000		154,429
Yinson Holdings Bhd.		34,400		34,434

				1,344,197

Entertainment - 0.5%
Alibaba Pictures Group Ltd.*(a)		520,000		90,127
Bilibili, Inc., ADR*		1,800		33,138
CD Projekt SA*		2,871		146,888
CJ CGV Co. Ltd.		670		25,682
Com2uSCorp		520		53,559
FingerTango, Inc.*(b)		990,000		200,607
Gamania Digital Entertainment Co. Ltd.*		6,000		14,902
IMAX China Holding, Inc.(b)		1,900		4,838
International Games System Co. Ltd.		3,000		15,038
iQIYI, Inc., ADR*(a)		5,306		106,757
Jcontentree Corp.*		2,396		10,616
JYP Entertainment Corp.		1,093		28,193
Major Cineplex Group PCL, NVDR		25,300		19,111


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Entertainment - (continued)
Nan Hai Corp. Ltd.		2,300,000		50,416
NCSoft Corp.		693		291,799
NetDragon Websoft Holdings Ltd.		12,000		21,838
NetEase, Inc., ADR		3,168		798,114
Netmarble Corp.*(b)		1,683		161,849
NHN Entertainment Corp.*		624		33,089
Pearl Abyss Corp.*		312		54,204
PVR Ltd.		1,040		23,475
SM Entertainment Co. Ltd.*		831		35,887
SMI Holdings Group Ltd.*(c)		72,000		21,471
Soft-World International Corp.		5,000		11,214
Studio Dragon Corp.*		480		38,956
Webzen, Inc.*		474		8,584
WeMade Entertainment Co. Ltd.		723		24,725

				2,325,077

Equity Real Estate Investment Trusts (REITs) - 0.9%
Concentradora Fibra Danhos SA de CV		41,600		59,749
Emira Property Fund Ltd.		557,964		664,343
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S		2,474,802		755,460
Equites Property Fund Ltd.		11,527		17,807
Fibra Uno Administracion SA de CV		138,600		191,130
Fortress REIT Ltd., Class A		47,763		69,647
Fortress REIT Ltd., Class B(a)		37,279		43,572
Grivalia Properties REIC AE		2,704		26,218
Growthpoint Properties Ltd.		136,364		266,871
Hyprop Investments Ltd.		11,880		80,573
IGB REIT		68,800		29,898
Investec Property Fund Ltd.		644,490		752,795
KLCCP Stapled Group		18,100		34,468
Korea Asset In Trust Co. Ltd.		70,131		279,540
Macquarie Mexico Real Estate Management SA de CV*(b)		19,100		21,069
Pavilion REIT		46,200		19,513
PLA Administradora Industrial S de RL de CV		25,800		36,988
Prologis Property Mexico SA de CV		10,400		18,173
Redefine Properties Ltd.		220,374		175,203
Resilient REIT Ltd.(a)		29,205		142,196
SA Corporate Real Estate Ltd.		3,233,736		913,829
Sunway REIT		39,400		16,833
Vukile Property Fund Ltd.		32,833		51,959
YTL Hospitality REIT		43,000		13,333
Yuexiu REIT		56,000		38,824

				4,719,991

Food & Staples Retailing - 1.0%
Al Meera Consumer Goods Co. QSC		199		8,252
Almacenes Exito SA		20,493		93,021
Atacadao Distribuicao Comercio e Industria Ltda*		15,300		83,959
Avenue Supermarts Ltd.*(b)		4,257		82,294
Berli Jucker PCL		500		780
Berli Jucker PCL, NVDR		58,900		91,906
BGF retail Co. Ltd.		396		65,487


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food & Staples Retailing - (continued)
Bid Corp. Ltd.		13,860		295,959
BIM Birlesik Magazalar A/S		9,108		158,812
Cencosud SA		64,647		131,139
Cia Brasileira de Distribuicao (Preference)*		6,300		168,240
Clicks Group Ltd.		11,088		164,524
Cosco Capital, Inc.*		3,663,000		519,470
CP ALL PCL, NVDR		178,200		443,468
Dino Polska SA*(b)		1,806		48,777
Dis-Chem Pharmacies Ltd.(b)		17,784		34,389
Dongsuh Cos., Inc.		2,427		41,881
E-MART, Inc.		792		136,668
Eurocash SA		4,433		24,029
Grupo Comercial Chedraui SA de CV		10,400		20,250
GS Retail Co. Ltd.		1,264		40,954
Hyundai Greenfood Co. Ltd.		2,808		34,701
InRetail Peru Corp.*(b)		1,980		67,617
Magnit PJSC		2,772		175,899
Massmart Holdings Ltd.		5,304		36,772
Migros Ticaret A/S*		114,543		376,211
Philippine Seven Corp.		12,771		29,802
Pick n Pay Stores Ltd.		17,523		91,709
President Chain Store Corp.		23,000		241,443
Puregold Price Club, Inc.*		26,060		22,754
Raia Drogasil SA*		9,900		168,497
Robinsons Retail Holdings, Inc.		25,190		42,539
Shoprite Holdings Ltd.		18,018		222,204
SMU SA*		125,632		35,477
Sok Marketler Ticaret A/S*		7,298		15,425
SPAR Group Ltd. (The)		9,306		139,835
Spencer’s Retail Ltd.*		2,496		6,114
Sumber Alfaria Trijaya Tbk. PT		774,400		44,616
Sun Art Retail Group Ltd.		109,000		107,796
Taiwan FamilyMart Co. Ltd.		3,000		22,362
Taiwan TEA Corp.		8,000		4,101
Wal-Mart de Mexico SAB de CV		207,900		548,478

				5,088,611

Food Products - 1.9%
Alicorp SAA		22,178		70,362
Astra Agro Lestari Tbk. PT		20,800		20,841
Astral Foods Ltd.		48,609		595,762
Avanti Feeds Ltd.		2,250		11,285
AVI Ltd.		14,553		102,036
Binggrae Co. Ltd.		321		19,762
Boustead Plantations Bhd.		60,200		13,669
BRF SA*		30,300		195,801
Britannia Industries Ltd.		2,277		102,379
Camil Alimentos SA*		158,400		326,558
Century Pacific Food, Inc.		17,700		5,408
Charoen Pokphand Enterprise		234,000		413,593
Charoen Pokphand Foods PCL, NVDR		128,700		112,253
Charoen Pokphand Indonesia Tbk. PT		305,400		161,743
China Agri-Industries Holdings Ltd.		198,000		70,402
China Foods Ltd.(a)		46,789		18,962


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food Products - (continued)
China Huishan Dairy Holdings Co. Ltd.*‡(c)		158,000		—
China Huiyuan Juice Group Ltd.*(c)		24,000		6,178
China Mengniu Dairy Co. Ltd.*		115,000		355,404
China Modern Dairy Holdings Ltd.*		185,000		22,398
CJ CheilJedang Corp.		792		243,796
CJ CheilJedang Corp. (Preference)		104		12,198
CP Pokphand Co. Ltd.		720,000		57,808
Daesang Corp.		26,928		609,882
Dali Foods Group Co. Ltd.(b)		99,000		67,374
Dongwon F&B Co. Ltd.		79		19,171
Dongwon Industries Co. Ltd.		94		19,854
Dutch Lady Milk Industries Bhd.		700		10,592
Easy Bio, Inc.*		52,866		286,982
Farmsco		688		5,169
FGV Holdings Bhd.*		106,100		25,903
Genting Plantations Bhd.		10,400		25,949
GlaxoSmithKline Consumer Healthcare Ltd.		442		45,560
Great Wall Enterprise Co. Ltd.		77,896		87,984
Gruma SAB de CV, Class B		9,405		115,149
Grupo Bimbo SAB de CV, Series A		89,100		177,046
Grupo Lala SAB de CV		16,800		20,501
Grupo Nutresa SA		8,390		71,684
Harim Holdings Co. Ltd.		4,823		54,400
Health & Happiness H&H International Holdings Ltd.*(a)		10,000		60,917
Hortifrut SA		5,552		18,785
Indofood CBP Sukses Makmur Tbk. PT		113,800		87,758
Indofood Sukses Makmur Tbk. PT		207,900		115,314
Industrias Bachoco SAB de CV, Series B		7,300		28,125
IOI Corp. Bhd.		79,200		89,912
Japfa Comfeed Indonesia Tbk. PT		178,000		37,326
JBS SA		89,100		369,089
Kernel Holding SA		5,412		74,324
KRBL Ltd.		2,726		12,794
Kuala Lumpur Kepong Bhd.		16,500		99,419
Lien Hwa Industrial Corp.		22,826		22,401
Lotte Food Co. Ltd.*		16		9,203
M Dias Branco SA*		6,500		84,953
Marfrig Global Foods SA*		247,500		413,089
Mayora Indah Tbk. PT		83,900		15,492
Multiexport Foods SA		631,818		389,723
Namchow Holdings Co. Ltd.		6,000		10,917
Namyang Dairy Products Co. Ltd.*		35		19,881
Naturecell Co. Ltd.*		679		8,330
Nestle India Ltd.		1,089		176,057
Nestle Malaysia Bhd.		2,300		83,386
NongShim Co. Ltd.		208		52,250
Orion Corp.		990		100,989
Orion Holdings Corp.		1,890		32,020
Ottogi Corp.		94		65,812
Perusahaan Perkebunan London Sumatra Indonesia Tbk. PT		122,600		12,898
Pioneer Foods Group Ltd.(a)		6,240		37,379


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food Products - (continued)
PPB Group Bhd.		24,480		108,773
Pulmuone Co. Ltd.		1,881		143,528
QL Resources Bhd.		28,330		46,756
RCL Foods Ltd.		6,412		7,480
Samyang Corp.		139		7,546
Samyang Foods Co. Ltd.		86		5,310
Samyang Holdings Corp.		479		35,818
Sao Martinho SA		7,300		38,556
Sawit Sumbermas Sarana Tbk. PT		135,700		11,509
Sime Darby Plantation Bhd.		105,300		132,910
SLC Agricola SA		2,400		29,186
SPC Samlip Co. Ltd.*		191		20,085
Standard Foods Corp.		17,652		28,672
Taokaenoi Food & Marketing PCL, Class R, NVDR		48,800		14,839
Tata Global Beverages Ltd.		12,584		36,060
Thai Union Group PCL, NVDR		114,400		68,473
Thai Vegetable Oil PCL, NVDR		15,570		14,452
Tiger Brands Ltd.		7,524		156,621
Tingyi Cayman Islands Holding Corp.		76,000		105,767
Tongaat Hulett Ltd.		139,590		531,220
Ulker Biskuvi Sanayi A/S		9,138		32,485
Uni-President China Holdings Ltd.		69,000		61,203
Uni-President Enterprises Corp.		208,000		486,799
United Plantations Bhd.		3,700		23,396
Universal Robina Corp.		43,560		123,800
Want Want China Holdings Ltd.		297,000		239,592
Yashili International Holdings Ltd.*		34,000		5,676
Yihai International Holding Ltd.		18,000		54,826
Zhou Hei Ya International Holdings Co. Ltd.*(b)		43,000		19,344

				9,701,023

Gas Utilities - 0.6%
Aygaz A/S		110,682		260,458
Beijing Enterprises Holdings Ltd.		42,000		237,922
China Gas Holdings Ltd.		99,000		314,788
China Resources Gas Group Ltd.		34,000		133,024
China Tian Lun Gas Holdings Ltd.		445,500		451,933
ENN Energy Holdings Ltd.		33,500		319,771
GAIL India Ltd.		21,780		101,719
Grupo Energia Bogota SA ESP		98,072		60,303
Gujarat State Petronet Ltd.		8,528		21,110
Indraprastha Gas Ltd.		7,224		28,802
Infraestructura Energetica Nova SAB de CV(a)		25,000		98,656
Korea Gas Corp.		2,475		120,341
Mahanagar Gas Ltd.(b)		1,456		18,834
Perusahaan Gas Negara Persero Tbk.		429,100		78,926
Petronas Gas Bhd.		22,500		99,316
Samchully Co. Ltd.*		2,574		232,496
SUI Northern Gas Pipeline*		518,900		317,986
Towngas China Co. Ltd.*		58,339		46,393
Zhongyu Gas Holdings Ltd.		52,000		54,341

				2,997,119


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Health Care Equipment & Supplies - 0.1%
Dentium Co. Ltd.*		344		22,600
DIO Corp.*		520		12,291
Ginko International Co. Ltd.		3,000		22,557
Hartalega Holdings Bhd.		59,400		78,311
Kossan Rubber Industries		34,400		31,830
Lifetech Scientific Corp.*		82,000		17,661
Microport Scientific Corp.(a)		11,035		10,590
Osstem Implant Co. Ltd.*		612		30,527
Pihsiang Machinery Manufacturing Co. Ltd.*(c)		5,000		2,816
Shandong Weigao Group Medical Polymer Co. Ltd., Class H		100,000		83,475
St Shine Optical Co. Ltd.		2,000		36,847
Top Glove Corp. Bhd.		70,900		83,432
Value Added Technology Co. Ltd.*		510		10,588

				443,525

Health Care Providers & Services - 0.5%
Apollo Hospitals Enterprise Ltd.		3,561		66,376
Bangkok Chain Hospital PCL, NVDR		72,800		37,982
Bangkok Dusit Medical Services PCL, NVDR		158,400		119,652
Bumrungrad Hospital PCL, NVDR		11,700		69,655
Celltrion Healthcare Co. Ltd.*		2,267		151,560
Chabiotech Co. Ltd.*		1,560		29,864
China Resources Medical Holdings Co. Ltd.(a)		30,000		20,951
Chularat Hospital PCL, NVDR		183,100		11,956
Dr Lal PathLabs Ltd.(b)		430		6,522
Fleury SA		7,200		44,036
Fortis Healthcare Ltd.*		9,651		18,347
Genertec Universal Medical Group Co. Ltd.(b)		1,138,500		915,536
Global Cord Blood Corp.		2,900		18,212
Hapvida Participacoes e Investimentos SA*(b)		5,300		49,817
HLB Life Science CO Ltd.*		1,132		16,227
IHH Healthcare Bhd.		118,800		162,422
Instituto Hermes Pardini SA		1,800		9,546
KPJ Healthcare Bhd.		145,424		38,344
Life Healthcare Group Holdings Ltd.		64,591		132,005
Medipost Co. Ltd.*		223		15,753
Mitra Keluarga Karyasehat Tbk. PT*(b)		312,000		33,718
Narayana Hrudayalaya Ltd.*(b)		946		2,520
Netcare Ltd.(a)		65,401		121,980
Notre Dame Intermedica Participacoes SA*		8,000		73,745
Odontoprev SA		12,000		53,860
Qualicorp Consultoria e Corretora de Seguros SA		12,000		52,213
Shanghai Pharmaceuticals Holding Co. Ltd., Class H		79,200		168,560
Sinopharm Group Co. Ltd., Class H		50,400		225,129


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Health Care Providers & Services - (continued)
Vibhavadi Medical Center PCL, NVDR		382,700		24,989

				2,691,477

Health Care Technology - 0.1%
Alibaba Health Information Technology Ltd.*(a)		160,000		146,405
Ping An Healthcare and Technology Co. Ltd.*(b)		19,800		93,112

				239,517

Hotels, Restaurants & Leisure - 0.6%
Alsea SAB de CV(a)		21,900		60,907
AmRest Holdings SE*		4,110		43,716
Ananti, Inc.*		1,058		24,247
Berjaya Sports Toto Bhd.		11,300		6,235
BK Brasil Operacao e Assessoria a Restaurantes SA*		2,800		16,910
Bloomberry Resorts Corp.		239,200		50,585
Central Plaza Hotel PCL		32,800		45,143
China Travel International Investment Hong Kong Ltd.		120,200		34,620
Coffee Day Enterprises Ltd.*(b)		1,720		6,449
CVC Brasil Operadora e Agencia de Viagens SA		5,900		103,656
DoubleUGames Co. Ltd.		312		15,675
Famous Brands Ltd.*		4,669		31,490
Formosa International Hotels Corp.		2,311		10,268
Genting Bhd.		207,900		352,252
Genting Malaysia Bhd.		128,700		103,375
Gourmet Master Co. Ltd.		4,868		33,751
Grand Korea Leisure Co. Ltd.		1,040		24,069
Haichang Ocean Park Holdings Ltd.*(b)		49,000		10,054
Haidilao International Holding Ltd.*(b)		33,164		77,598
Hana Tour Service, Inc.		403		25,644
Huazhu Group Ltd., ADR(a)		4,356		138,303
Indian Hotels Co. Ltd. (The)		22,940		45,819
Jollibee Foods Corp.		21,780		132,076
Jubilant Foodworks Ltd.		2,807		49,669
Kangwon Land, Inc.*		4,752		145,210
Magnum Bhd.		19,400		9,757
Minor International PCL, NVDR		79,200		98,232
MK Restaurants Group PCL, NVDR		10,400		24,883
Modetour Network, Inc.		520		11,544
OPAP SA		10,890		106,526
Paradise Co. Ltd.		2,112		34,642
Sun International Ltd.*		166,518		737,473
Thomas Cook India Ltd.		2,244		7,023
Travellers International Hotel Group, Inc.*		209,900		22,154
Tsogo Sun Holdings Ltd.		18,411		27,290
Xiabuxiabu Catering Management China Holdings Co. Ltd.(b)		11,500		16,502
Yum China Holdings, Inc.		16,137		588,194

				3,271,941

Household Durables - 0.8%
AmTRAN Technology Co. Ltd.*		990,000		375,421


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Household Durables - (continued)
Arcelik A/S		6,720		24,045
Coway Co. Ltd.		2,277		170,675
Crompton Greaves Consumer Electricals Ltd.		21,582		64,925
Cyrela Brazil Realty SA Empreendimentos e Participacoes		11,400		53,232
Dom Development SA		9,999		201,937
Ez Tec Empreendimentos e Participacoes SA		2,900		22,044
Haier Electronics Group Co. Ltd.*		110,000		316,120
Hanssem Co. Ltd.		650		41,945
Hyundai Livart Furniture Co. Ltd.		15,642		276,246
Kinpo Electronics		1,584,000		574,894
LG Electronics, Inc.		9,702		580,734
LG Electronics, Inc. (Preference)		1,345		32,699
MRV Engenharia e Participacoes SA		24,400		100,472
Nien Made Enterprise Co. Ltd.		8,000		67,705
PIK Group PJSC		3,702		19,901
Skyworth Digital Holdings Ltd.(a)		2,376,000		711,586
Socovesa SA		23,620		15,558
Symphony Ltd.		1,272		20,769
Tatung Co. Ltd.*		100,000		87,561
TCL Electronics Holdings Ltd.		792,000		375,475
TTK Prestige Ltd.		202		21,809
Whirlpool of India Ltd.		1,664		35,323
Wuxi Little Swan Co. Ltd., Class B		5,200		27,893

				4,218,969

Household Products - 0.2%
Hindustan Unilever Ltd.		30,096		746,158
Jyothy Laboratories Ltd.		3,300		8,535
Kimberly-Clark de Mexico SAB de CV, Class A*		53,000		88,908
Unilever Indonesia Tbk. PT		49,500		177,134
Vinda International Holdings Ltd.		20,000		34,868

				1,055,603

Independent Power and Renewable Electricity Producers - 2.0%
Aboitiz Power Corp.		93,600		68,974
Adani Power Ltd.*		43,621		27,907
AES Gener SA		216,720		66,030
AES Tiete Energia SA		2		1
AES Tiete Energia SA - UNIT		5,573		17,823
AES Tiete Energia SA (Preference)		30		19
B Grimm Power PCL, NVDR		41,600		39,613
Banpu Power PCL, NVDR		41,600		30,625
BCPG PCL, NVDR		41,600		22,370
Beijing Enterprises Clean Energy Group Ltd.*		41,580,000		641,184
CGN Power Co. Ltd., Class H(b)		891,000		232,779
China Everbright Greentech Ltd.(b)		34,000		26,865
China Longyuan Power Group Corp. Ltd., Class H		297,000		221,803
China Power International Development Ltd.(a)		460,332		118,505
China Resources Power Holdings Co. Ltd.		156,000		312,131
Cia Energetica de Sao Paulo (Preference), Class B		9,700		60,685


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Independent Power and Renewable Electricity Producers - (continued)
Colbun SA		361,053		82,362
Datang International Power Generation Co. Ltd., Class H		3,564,000		926,575
Electricity Generating PCL, NVDR		11,600		97,278
Eneva SA*		287,100		1,458,829
Engie Brasil Energia SA		12,450		143,031
First Gen Corp.		1,524,600		596,850
GCL New Energy Holdings Ltd.*(a)		9,108,000		377,241
Global Power Synergy PCL, NVDR		17,200		34,546
Glow Energy PCL, NVDR		24,800		73,227
Gulf Energy Development PCL, NVDR		33,000		91,894
Huadian Power International Corp. Ltd., Class H		2,090,000		969,529
Huaneng Power International, Inc., Class H		396,000		248,298
Huaneng Renewables Corp. Ltd., Class H		6,138,000		1,760,039
Hub Power Co. Ltd. (The)		31,200		21,000
JSW Energy Ltd.*		22,880		21,506
Kot Addu Power Co. Ltd.		346,500		126,515
Malakoff Corp. Bhd.		188,100		38,116
NHPC Ltd.		241,263		84,808
NTPC Ltd.		79,101		155,377
OGK-2 PJSC		38,511,495		199,384
Ratchaburi Electricity Generating Holding PCL, NVDR		9,300		16,521
Reliance Power Ltd.*		847,242		315,691
SPCG PCL, NVDR		603,900		367,259
Super Energy Corp. PCL, NVDR*		638,800		11,859
Taiwan Cogeneration Corp.		18,000		14,999
Terna Energy SA*		3,821		26,087
TPI Polene Power PCL, NVDR		156,000		31,956
Unipro PJSC		1,105,000		46,425

				10,224,516

Industrial Conglomerates - 1.9%
3M India Ltd.*		131		37,118
Aamal Co.		9,622		25,553
Aboitiz Equity Ventures, Inc.		91,080		112,299
AG Anadolu Grubu Holding A/S		158,103		390,683
Alfa SAB de CV, Class A		277,200		350,647
Alliance Global Group, Inc.		316,800		83,288
AntarChile SA		11,617		177,853
BGF Co. Ltd.		44,451		316,808
Bidvest Group Ltd. (The)		14,058		214,631
Boustead Holdings Bhd.		31,200		11,121
CITIC Ltd.		575,000		869,092
CJ Corp.		1,188		128,660
CJ Corp. (Preference)*(c)		175		4,237
DMCI Holdings, Inc.		149,300		36,043
Dogan Sirketler Grubu Holding A/S*		35,602		7,773
Doosan Corp.		1,314		138,763
Doosan Corp. (Preference)		416		28,153
Dubai Investments PJSC		127,167		45,701
Enka Insaat ve Sanayi A/S		133,749		127,653


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Industrial Conglomerates - (continued)
Far Eastern New Century Corp.		348,000		336,429
Fosun International Ltd.		210,500		313,871
Godrej Industries Ltd.		3,377		23,898
Grupo Carso SAB de CV, Series A1(a)		18,700		73,667
Hanwha Corp.		4,554		143,867
Hanwha Corp. (Preference)		1,425		19,659
HAP Seng Consolidated Bhd.		30,600		73,586
Hong Leong Industries Bhd.		8,600		19,190
Hosken Consolidated Investments Ltd.		69,003		603,191
Hyosung Corp.		12,672		797,232
Industries Qatar QSC		8,514		335,767
JG Summit Holdings, Inc.		106,920		132,650
KAP Industrial Holdings Ltd.		63,408		40,854
KOC Holding A/S		104,247		348,437
Kolon Corp.		8,415		251,849
LG Corp.		11,583		808,879
Lotte Corp.		4,257		200,100
LT Group, Inc.		131,600		39,144
MMC Corp. Bhd.		643,500		131,968
Mytilineos Holdings SA		10,890		102,715
Quinenco SA		12,939		36,845
Reunert Ltd.		4,870		25,873
Samsung C&T Corp.		3,861		416,411
San Miguel Corp.		17,400		55,095
Shanghai Industrial Holdings Ltd.		37,000		77,709
Siemens Ltd.		2,760		39,976
Sigdo Koppers SA		16,555		29,020
Sime Darby Bhd.		137,000		74,922
SK Holdings Co. Ltd.		3,069		726,807
SM Investments Corp.		19,800		376,166
Turkiye Sise ve Cam Fabrikalari A/S		71,280		93,509

				9,855,362

Insurance - 3.2%
Anadolu Anonim Turk Sigorta Sirketi		253,836		210,390
Bajaj Finserv Ltd.		1,683		144,160
BB Seguridade Participacoes SA		29,700		253,234
Cathay Financial Holding Co. Ltd.		753,000		1,068,659
China Life Insurance Co. Ltd.		262,000		236,658
China Life Insurance Co. Ltd., Class H		311,000		766,531
China Pacific Insurance Group Co. Ltd., Class H		237,600		831,193
China Reinsurance Group Corp., Class H		7,821,000		1,764,203
China Taiping Insurance Holdings Co. Ltd.		128,800		352,913
DB Insurance Co. Ltd.		4,356		272,091
Discovery Ltd.		18,315		219,752
Fanhua, Inc., ADR		1,700		43,877
General Insurance Corp. of India(b)		8,949		30,627
Hanwha General Insurance Co. Ltd.		72,864		354,939
Hanwha Life Insurance Co. Ltd.		21,384		82,642
HDFC Life Insurance Co. Ltd.*(b)		15,642		81,729


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Insurance - (continued)
Hyundai Marine & Fire Insurance Co. Ltd.		5,346		179,457
ICICI Lombard General Insurance Co. Ltd.(b)		3,640		45,052
ICICI Prudential Life Insurance Co. Ltd.(b)		10,400		41,800
IRB Brasil Resseguros S/A		4,100		95,961
Korean Reinsurance Co.		11,682		94,178
Liberty Holdings Ltd.		12,870		103,600
Lotte Non-Life Insurance Co. Ltd.*		85,041		205,217
LPI Capital Bhd.		9,127		36,455
Max Financial Services Ltd.*		5,068		28,372
Mercuries & Associates Holding Ltd.		594,000		332,562
Mercuries Life Insurance Co. Ltd.*		123,268		44,337
Meritz Fire & Marine Insurance Co. Ltd.		5,148		102,715
Mirae Asset Life Insurance Co. Ltd.		99,990		435,853
MMI Holdings Ltd.*		68,904		87,389
New China Life Insurance Co. Ltd., Class H		36,100		152,742
Old Mutual Ltd.		444,807		784,027
Orange Life Insurance Ltd.(b)		2,871		77,281
Panin Financial Tbk. PT*		18,829,800		409,680
People’s Insurance Co. Group of China Ltd. (The), Class H		594,000		245,270
PICC Property & Casualty Co. Ltd., Class H		620,000		639,224
Ping An Insurance Group Co. of China Ltd., Class H		214,500		2,074,828
Porto Seguro SA		4,000		61,579
Powszechny Zaklad Ubezpieczen SA		23,859		286,926
Qatar Insurance Co. SAQ		5,917		63,358
Qualitas Controladora SAB de CV, Class I(a)		237,600		583,628
Rand Merchant Investment Holdings Ltd.		41,481		115,159
Samsung Fire & Marine Insurance Co. Ltd.		2,970		728,720
Samsung Fire & Marine Insurance Co. Ltd. (Preference)		194		30,338
Samsung Life Insurance Co. Ltd.		7,920		628,532
Sanlam Ltd.		74,745		473,761
Santam Ltd.		2,471		56,619
Shin Kong Financial Holding Co. Ltd.		887,291		250,983
Shinkong Insurance Co. Ltd.		271,000		314,475
Sul America SA		12,200		107,505
TI Financial Holdings Ltd.		3,206		20,028
ZhongAn Online P&C Insurance Co. Ltd., Class H*(a)(b)		8,100		27,872

				16,679,081

Interactive Media & Services - 2.8%
58.com, Inc., ADR*		3,762		238,511
Autohome, Inc., ADR*(a)		2,376		171,975
Baidu, Inc., ADR*		11,880		2,050,844
Bitauto Holdings Ltd., ADR*(a)		1,200		23,304


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Interactive Media & Services - (continued)
Info Edge India Ltd.		2,280		56,017
Kakao Corp.		2,674		238,645
Momo, Inc., ADR*		5,940		180,754
NAVER Corp.		6,237		762,353
SINA Corp.*		2,673		164,176
Tencent Holdings Ltd.		234,500		10,340,270
Tian Ge Interactive Holdings Ltd.(b)		25,000		10,387
Weibo Corp., ADR*		2,673		162,144
YY, Inc., ADR*		2,079		144,345

				14,543,725

Internet & Direct Marketing Retail - 2.5%
Alibaba Group Holding Ltd., ADR*		54,945		9,257,683
B2W Cia Digital*		6,247		85,744
Baozun, Inc., ADR*		1,300		46,540
CJ ENM Co. Ltd.		990		188,898
Ctrip.com International Ltd., ADR*		16,236		540,659
GS Home Shopping, Inc.		133		22,712
Hyundai Home Shopping Network Corp.		293		27,123
JD.com, Inc., ADR*(a)		34,749		863,513
Meituan Dianping, Class B*(a)(b)		158,400		1,075,958
momo.com, Inc.		1,000		7,373
NS Shopping Co. Ltd.		20,988		255,595
PChome Online, Inc.*		2,763		12,141
Pinduoduo, Inc., ADR*(a)		3,776		110,297
Vipshop Holdings Ltd., ADR*		39,600		304,524

				12,798,760

IT Services - 0.9%
21Vianet Group, Inc., ADR*		2,400		21,552
AGTech Holdings Ltd.*		84,000		4,817
Cafe24 Corp.*		360		35,785
CESC Ventures Ltd.*		832		5,002
Chinasoft International Ltd.*		102,000		50,047
Cielo SA		49,500		162,246
Digital China Holdings Ltd.*		58,000		27,867
GDS Holdings Ltd., ADR*(a)		2,400		68,160
HCL Technologies Ltd.		23,364		330,223
Hexaware Technologies Ltd.		3,640		17,535
Infosys Ltd.		161,172		1,698,629
Kginicis Co. Ltd.		21,384		282,519
Larsen & Toubro Infotech Ltd.(b)		638		15,796
Mindtree Ltd.		4,608		57,927
Mphasis Ltd.		3,418		48,187
My EG Services Bhd.		130,600		31,885
Persistent Systems Ltd.		900		7,619
Posco ICT Co. Ltd.		2,080		10,730
Samsung SDS Co. Ltd.		1,683		338,067
SONDA SA		24,083		41,855
Systex Corp.		9,000		18,925
Tata Consultancy Services Ltd.		38,214		1,082,211
Tech Mahindra Ltd.		19,800		203,763
TravelSky Technology Ltd., Class H		38,000		102,667
Wipro Ltd.		44,748		232,297

				4,896,311

Leisure Products - 0.0%(d)
Giant Manufacturing Co. Ltd.		13,000		64,320


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Leisure Products - (continued)
HLB, Inc.*		1,485		100,099
KMC Kuei Meng International, Inc.		3,315		10,769
Merida Industry Co. Ltd.		9,350		45,956

				221,144

Life Sciences Tools & Services - 0.1%
Divi’s Laboratories Ltd.		3,767		79,779
Genscript Biotech Corp.*(a)		46,000		70,582
Samsung Biologics Co. Ltd.*(b)		693		248,512
ST Pharm Co. Ltd.		344		5,890
Syngene International Ltd.(b)		860		6,992
Wuxi Biologics Cayman, Inc.*(a)(b)		19,500		167,621

				579,376

Machinery - 0.7%
AIA Engineering Ltd.		1,599		36,135
Airtac International Group		6,784		77,730
Ashok Leyland Ltd.		60,093		68,695
China Conch Venture Holdings Ltd.		77,000		256,611
China International Marine Containers Group Co. Ltd., Class H(a)		37,400		39,942
CIMC Enric Holdings Ltd.		36,000		31,198
CRRC Corp. Ltd., Class H		170,000		170,721
Cummins India Ltd.		2,280		25,269
Daewoo Shipbuilding & Marine Engineering Co. Ltd.*		1,692		56,266
Doosan Bobcat, Inc.		1,462		43,624
Doosan Infracore Co. Ltd.*		14,157		110,187
Escorts Ltd.		1,997		18,521
Famur SA		1,118		1,499
Haitian International Holdings Ltd.		30,000		68,819
Hiwin Technologies Corp.		9,629		75,850
Hyundai Construction Equipment Co. Ltd.		624		30,901
Hyundai Elevator Co. Ltd.*		633		63,149
Hyundai Heavy Industries Co. Ltd.*		1,881		234,142
Hyundai Heavy Industries Holdings Co. Ltd.		396		127,771
Hyundai Mipo Dockyard Co. Ltd.		1,272		71,794
Hyundai Rotem Co. Ltd.*		1,951		46,379
King Slide Works Co. Ltd.		3,000		33,494
Lakshmi Machine Works Ltd.		148		11,187
Lonking Holdings Ltd.		2,079,000		696,824
Marcopolo SA*(c)		759		850
Marcopolo SA (Preference)		31,900		35,729
QST International Corp.		66,000		171,867
Rechi Precision Co. Ltd.		21,969		18,950
Samsung Heavy Industries Co. Ltd.*		22,146		181,125
Shanghai Zhenhua Heavy Industries Co. Ltd., Class B		37,440		12,767
Shin Zu Shing Co. Ltd.		4,000		11,575
Sinotruk Hong Kong Ltd.(a)		64,000		117,777
SKF India Ltd.		624		16,846
Sunonwealth Electric Machine Industry Co. Ltd.		8,000		9,778


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Machinery - (continued)
Thermax Ltd.		2,214		34,105
WEG SA		29,700		153,604
Weichai Power Co. Ltd., Class H		171,000		228,822
Yungtay Engineering Co. Ltd.		19,000		36,922

				3,427,425

Marine - 0.5%
Cia Sud Americana de Vapores SA*		797,784		23,817
COSCO SHIPPING Energy Transportation Co. Ltd., Class H		34,000		19,239
COSCO SHIPPING Holdings Co. Ltd., Class H*(a)		3,316,500		1,335,611
Evergreen Marine Corp. Taiwan Ltd.		115,420		44,896
Hyundai Merchant Marine Co. Ltd.*		10,455		37,633
Korea Line Corp.*		17,424		375,838
MISC Bhd.		59,400		98,323
Pan Ocean Co. Ltd.*		13,007		52,898
Qatar Navigation QSC		2,231		42,276
U-Ming Marine Transport Corp.		25,000		24,738
Wan Hai Lines Ltd.		61,000		31,273
Wisdom Marine Lines Co. Ltd.*		420,000		397,149
Yang Ming Marine Transport Corp.*		53,000		15,423

				2,499,114

Media - 1.3%
Astro Malaysia Holdings Bhd.		133,000		54,551
Cheil Worldwide, Inc.		3,303		69,762
China Literature Ltd.*(a)(b)		16,800		82,537
CJ Hello Co. Ltd.		625		5,758
Cyfrowy Polsat SA*		11,880		75,816
Dish TV India Ltd.		17,517		5,825
Grupo Televisa SAB, Series CPO(a)		99,000		248,745
Innocean Worldwide, Inc.		520		32,948
KT Skylife Co. Ltd.		25,938		263,425
Media Nusantara Citra Tbk. PT		7,920,000		478,969
Megacable Holdings SAB de CV(a)		9,700		43,830
Multiplus SA		3,500		24,981
Naspers Ltd., Class N		18,513		4,241,109
Plan B Media PCL, NVDR		72,800		14,447
Smiles Fidelidade SA*		74,300		911,719
Sun TV Network Ltd.		4,576		34,108
Surya Citra Media Tbk. PT		342,700		46,233
TV18 Broadcast Ltd.*		16,016		7,341
VGI Global Media PCL, NVDR		114,400		28,378
Zee Entertainment Enterprises Ltd.		21,780		116,434

				6,786,916

Metals & Mining - 5.0%
African Rainbow Minerals Ltd.		7,722		86,199
Alrosa PJSC		227,898		343,037
Aluminum Corp. of China Ltd., Class H*(a)		114,000		41,987
Aneka Tambang Tbk.		522,310		36,073
Angang Steel Co. Ltd., Class H(a)		1,386,000		1,035,080
Anglo American Platinum Ltd.		2,442		117,407
AngloGold Ashanti Ltd.		37,125		523,107


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Metals & Mining - (continued)
Assore Ltd.		4,257		110,265
Bradespar SA		3,600		25,200
Bradespar SA (Preference)		9,900		76,449
CAP SA		93,654		1,015,113
China Hongqiao Group Ltd.		198,000		126,168
China Metal Recycling Holdings Ltd.*‡(c)		51,000		—
China Metal Resources Utilization Ltd.*(b)		56,000		31,045
China Molybdenum Co. Ltd., Class H(a)		4,636,200		1,872,985
China Nonferrous Mining Corp. Ltd.		1,089,000		274,793
China Oriental Group Co. Ltd.		110,000		74,159
China Steel Corp.		535,000		443,199
China Zhongwang Holdings Ltd.		158,400		79,334
Chung Hung Steel Corp.*		1,089,000		412,963
Cia Siderurgica Nacional SA*		29,700		83,161
Dongkuk Steel Mill Co. Ltd.*		1,767		13,229
Eregli Demir ve Celik Fabrikalari TAS		145,035		237,900
Feng Hsin Steel Co. Ltd.		26,000		49,255
Gerdau SA (Preference)		43,982		188,953
Gloria Material Technology Corp.		18,000		10,898
Gold Fields Ltd.		73,656		298,398
Grupa Kety SA		331		30,438
Grupo Mexico SAB de CV, Series B		316,800		762,355
Harmony Gold Mining Co. Ltd.*(a)		594,099		1,189,093
Hindalco Industries Ltd.		36,927		108,258
Hyundai Steel Co.		7,623		350,782
Impala Platinum Holdings Ltd.*		23,398		68,149
Industrias CH SAB de CV, Series B*		6,600		28,022
Industrias Penoles SAB de CV		5,940		81,491
Jastrzebska Spolka Weglowa SA*		4,653		85,576
Jenax, Inc.*		705		7,730
Jiangxi Copper Co. Ltd., Class H		99,000		125,411
Jinchuan Group International Resources Co. Ltd.*		5,049,000		431,115
Jindal Steel & Power Ltd.*		20,072		38,129
JSW Steel Ltd.		42,867		165,513
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S, Class D*		17,887		9,054
KGHM Polska Miedz SA*		12,177		308,749
KISWIRE Ltd.*		720		16,534
Korea Zinc Co. Ltd.		495		195,971
Koza Altin Isletmeleri A/S*		2,182		22,617
Kumba Iron Ore Ltd.		2,246		57,316
Maanshan Iron & Steel Co. Ltd., Class H(a)		2,178,000		1,038,108
Magnitogorsk Iron & Steel Works PJSC		166,518		110,115
Mechel PJSC*		265,023		331,042
Mechel PJSC (Preference)		105,039		170,924
Metalurgica Gerdau SA (Preference)		49,500		101,234
MMC Norilsk Nickel PJSC		2,643		548,792
MMG Ltd.*(a)		192,000		69,981


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Metals & Mining - (continued)
MOIL Ltd.		2,808		6,374
National Aluminium Co. Ltd.		27,956		23,428
Nickel Asia Corp.		6,196,800		291,348
NMDC Ltd.		65,439		89,160
Northam Platinum Ltd.*		10,806		39,348
Novolipetsk Steel PJSC		86,625		201,114
Polyus PJSC		2,245		188,367
Poongsan Corp.		22,572		618,744
POSCO		7,227		1,779,713
Press Metal Aluminium Holdings Bhd.		108,900		114,590
Raspadskaya OJSC*		163,251		338,700
Seah Besteel Corp.		15,543		247,956
Severstal PJSC		18,414		280,799
Shougang Fushan Resources Group Ltd.		4,356,000		921,529
Sibanye Gold Ltd.*		147,114		124,720
Stalprodukt SA		2,178		193,540
Steel Authority of India Ltd.*		79,638		52,629
TA Chen Stainless Pipe		80,962		115,692
Tata Steel Ltd.		23,562		157,930
Tung Ho Steel Enterprise Corp.		64,000		41,040
Usinas Siderurgicas de Minas Gerais SA (Preference), Class A		23,300		62,747
Vale Indonesia Tbk. PT*		134,900		37,171
Vale SA		281,000		3,509,800
Vedanta Ltd.		148,896		413,170
Volcan Cia Minera SAA, Class B		3,120,381		703,105
YC INOX Co. Ltd.		396,000		323,539
Yieh Phui Enterprise Co. Ltd.		1,782,000		580,050
Young Poong Corp.		65		44,866
Zhaojin Mining Industry Co. Ltd., Class H		36,000		37,621
Zijin Mining Group Co. Ltd., Class H		198,000		73,682

				25,671,328

Multiline Retail - 0.4%
Aeon Co. M Bhd.		28,000		10,596
El Puerto de Liverpool SAB de CV, Class C1		9,900		65,149
Far Eastern Department Stores Ltd.		83,012		44,314
Future Retail Ltd.*		7,735		46,734
Golden Eagle Retail Group Ltd.		27,000		28,938
Hyundai Department Store Co. Ltd.		1,683		144,605
Lojas Americanas SA*		5,250		22,555
Lojas Americanas SA (Preference)*		29,700		171,785
Lojas Renner SA*		29,700		370,965
Lotte Shopping Co. Ltd.		495		87,197
Magazine Luiza SA		3,100		152,387
Matahari Department Store Tbk. PT		207,900		104,155
Mitra Adiperkasa Tbk. PT		258,000		18,557
Poya International Co. Ltd.		3,000		30,370
Ripley Corp. SA		50,856		45,548
Robinson PCL, NVDR		24,900		54,195
SACI Falabella		25,444		205,093
Shinsegae, Inc.		297		70,603
Woolworths Holdings Ltd.		40,788		154,392

				1,828,138


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Multi-Utilities - 0.0%(d)
Qatar Electricity & Water Co. QSC		2,079		107,329
YTL Corp. Bhd.		186,726		50,146
YTL Power International Bhd.		250,900		55,129

				212,604

Oil, Gas & Consumable Fuels - 5.9%
Adaro Energy Tbk. PT		1,405,800		139,851
Bangchak Corp. PCL, NVDR		41,600		42,942
Banpu PCL, NVDR		168,300		89,422
Bashneft PJSC		720		21,310
Bashneft PJSC (Preference)		1,163		31,882
Bharat Petroleum Corp. Ltd.		69,795		339,014
Bukit Asam Tbk. PT		130,900		40,378
Bumi Resources Tbk. PT*		1,552,600		18,668
China Coal Energy Co. Ltd., Class H		198,000		83,271
China Petroleum & Chemical Corp., Class H		2,298,000		1,924,103
China Shenhua Energy Co. Ltd., Class H		297,000		749,436
CNOOC Ltd.		1,448,000		2,421,115
Coal India Ltd.		56,727		179,186
Cosan SA		6,700		81,644
Dana Gas PJSC		318,384		77,581
E1 Corp.		5,346		291,648
Ecopetrol SA		211,761		199,061
Empresas COPEC SA		14,850		204,614
Energy Absolute PCL, NVDR		69,300		105,361
Esso Thailand PCL, NVDR		135,200		47,169
Exxaro Resources Ltd.		22,572		261,832
Formosa Petrochemical Corp.		71,000		248,442
Gazprom PJSC		490,074		1,218,621
Gazprom PJSC, ADR		10,779		52,645
Great Eastern Shipping Co. Ltd. (The)		878		3,738
Grupa Lotos SA		7,821		195,859
GS Holdings Corp.		4,356		212,975
Hellenic Petroleum SA		6,163		54,169
Hindustan Petroleum Corp. Ltd.		57,024		187,220
Indian Oil Corp. Ltd.		186,912		359,658
Indika Energy Tbk. PT		2,128,500		324,473
Indo Tambangraya Megah Tbk. PT		41,600		67,882
Inner Mongolia Yitai Coal Co. Ltd., Class B		89,100		103,267
Inner Mongolia Yitai Coal Co. Ltd., Class H		20,800		15,719
IRPC PCL, NVDR		900,900		165,805
Kunlun Energy Co. Ltd.		304,000		323,886
Lubelski Wegiel Bogdanka SA*		14,652		221,734
LUKOIL PJSC		15,939		1,283,444
Mangalore Refinery & Petrochemicals Ltd.		15,060		14,368
Mari Petroleum Co. Ltd.		1,804		16,878
Medco Energi Internasional Tbk. PT*		405,400		29,304
MOL Hungarian Oil & Gas plc		42,669		511,332
Motor Oil Hellas Corinth Refineries SA		5,940		148,245


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Oil, Gas & Consumable Fuels - (continued)
Novatek PJSC		36,135		631,877
Oil & Gas Development Co. Ltd.		69,300		75,438
Oil & Natural Gas Corp. Ltd.		251,955		500,403
Oil India Ltd.		29,264		68,984
Pakistan Oilfields Ltd.		6,240		21,333
Pakistan Petroleum Ltd.		56,525		77,421
Pakistan State Oil Co. Ltd.		15,854		28,240
PetroChina Co. Ltd., Class H		894,000		576,502
Petroleo Brasileiro SA*		267,300		2,168,309
Petroleo Brasileiro SA (Preference)*		396,000		2,780,740
Petron Corp.		2,841,300		407,847
Petronas Dagangan Bhd.		15,200		97,895
Petronet LNG Ltd.		30,591		97,920
Pilipinas Shell Petroleum Corp.		24,960		22,991
Polski Koncern Naftowy ORLEN SA		26,136		736,860
Polskie Gornictwo Naftowe i Gazownictwo SA		144,243		296,359
PTT Exploration & Production PCL		469		1,846
PTT Exploration & Production PCL, NVDR		58,931		232,008
PTT PCL, NVDR		772,200		1,198,742
Qatar Fuel QSC		1,881		94,787
Qatar Gas Transport Co. Ltd.		11,058		60,707
Reliance Industries Ltd.		131,769		2,273,627
Rosneft Oil Co. PJSC		43,460		272,957
Rosneft Oil Co. PJSC, GDR(b)		6,040		37,750
RussNeft PJSC*		2,048		18,566
Semirara Mining & Power Corp.		102,400		46,572
Siamgas & Petrochemicals PCL, NVDR		920,700		309,429
Sinopec Kantons Holdings Ltd.(a)		1,270,000		579,428
SK Gas Ltd.		5,098		377,580
SK Innovation Co. Ltd.		5,544		939,239
S-Oil Corp.		1,683		158,067
S-Oil Corp. (Preference)		208		13,497
Star Petroleum Refining PCL, NVDR		51,900		18,107
Surgutneftegas PJSC		321,507		134,316
Surgutneftegas PJSC, ADR		3,506		14,508
Surgutneftegas PJSC, ADR, OTC		12,422		76,520
Surgutneftegas PJSC (Preference)		229,383		142,123
Tatneft PJSC		34,479		424,887
Tatneft PJSC, ADR		5,424		398,013
Tatneft PJSC (Preference)		7,007		60,890
Thai Oil PCL, NVDR		69,300		159,706
Transneft PJSC (Preference)		63		167,894
Tupras Turkiye Petrol Rafinerileri A/S		11,088		297,771
Ultrapar Participacoes SA		19,800		310,904
United Tractors Tbk. PT		69,300		127,589
Yanzhou Coal Mining Co. Ltd., Class H		144,000		131,398

				30,777,699

Paper & Forest Products - 0.7%
Duratex SA*		16,474		55,353
Empresas CMPC SA		48,411		175,655


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Paper & Forest Products - (continued)
Hansol Paper Co. Ltd.		21,582		332,657
Indah Kiat Pulp & Paper Corp. Tbk. PT		237,600		221,063
Lee & Man Paper Manufacturing Ltd.		99,000		87,939
Long Chen Paper Co. Ltd.		732,350		361,151
Mondi Ltd.		5,148		127,288
Moorim P&P Co., Ltd.		27,027		145,258
Nine Dragons Paper Holdings Ltd.		149,000		151,151
Pabrik Kertas Tjiwi Kimia Tbk. PT		108,900		105,023
Pfleiderer Group SA		35,343		302,166
Sappi Ltd.		50,292		295,688
Shandong Chenming Paper Holdings Ltd., Class B		633,600		342,369
Shandong Chenming Paper Holdings Ltd., Class H(a)		396,000		230,130
Suzano Papel e Celulose SA		24,274		306,524
YFY, Inc.		1,683,000		629,998

				3,869,413

Personal Products - 0.4%
Amorepacific Corp.		1,287		209,941
Amorepacific Corp. (Preference)		545		49,962
AMOREPACIFIC Group		1,287		79,234
AMOREPACIFIC Group (Preference)		312		8,132
Chlitina Holding Ltd.		2,000		18,814
Colgate-Palmolive India Ltd.		2,518		45,322
Cosmax, Inc.		322		36,464
Dabur India Ltd.		21,879		136,482
Emami Ltd.		4,766		27,533
Gillette India Ltd.		199		18,188
Godrej Consumer Products Ltd.		15,642		156,002
Grape King Bio Ltd.		5,000		33,690
Hengan International Group Co. Ltd.		30,500		239,438
It’s Hanbul Co. Ltd.*		501		12,090
Kolmar BNH Co. Ltd.*		688		14,315
Kolmar Korea Co. Ltd.*		643		38,835
Kolmar Korea Holdings Co. Ltd.*		9,108		252,534
LG Household & Health Care Ltd.		396		450,222
LG Household & Health Care Ltd. (Preference)		97		66,256
Marico Ltd.		17,820		91,894
Natura Cosmeticos SA		6,800		88,537
Procter & Gamble Hygiene & Health Care Ltd.		344		47,928
TCI Co. Ltd.		3,644		52,190

				2,174,003

Pharmaceuticals - 0.9%
Adcock Ingram Holdings Ltd.		5,074		24,277
Ajanta Pharma Ltd.		1,415		20,307
Alembic Pharmaceuticals Ltd.		2,150		17,946
Alkem Laboratories Ltd.		1,560		41,308
Aspen Pharmacare Holdings Ltd.		16,137		176,668
Aurobindo Pharma Ltd.		13,662		151,335
Beijing Tong Ren Tang Chinese Medicine Co. Ltd.		10,000		17,587
Bukwang Pharmaceutical Co. Ltd.		1,971		41,182


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Pharmaceuticals - (continued)
Cadila Healthcare Ltd.		13,420		60,184
Caregen Co. Ltd.		258		16,208
Celltrion Pharm, Inc.*		697		39,403
Center Laboratories, Inc.*		3,541		9,336
China Grand Pharmaceutical and Healthcare Holdings Ltd.*		32,000		17,006
China Medical System Holdings Ltd.		72,000		74,600
China Resources Pharmaceutical Group Ltd.(b)		80,500		114,286
China Traditional Chinese Medicine Holdings Co. Ltd.		114,000		74,095
Chong Kun Dang Pharmaceutical Corp.		269		25,627
Cipla Ltd.		15,543		113,054
Consun Pharmaceutical Group Ltd.(a)		16,000		12,031
CSPC Pharmaceutical Group Ltd.		198,000		339,643
Daewoong Co. Ltd.*		1,791		29,457
Daewoong Pharmaceutical Co. Ltd.*		266		46,260
Dong-A Socio Holdings Co. Ltd.		104		9,814
Dong-A ST Co. Ltd.		299		27,142
DongKook Pharmaceutical Co. Ltd.		450		22,810
Dr Reddy’s Laboratories Ltd.		3,267		124,984
Genomma Lab Internacional SAB de CV, Class B*		12,000		8,362
Glenmark Pharmaceuticals Ltd.		7,430		68,079
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H		6,000		23,054
Hanall Biopharma Co. Ltd.*		1,501		47,014
Hanmi Pharm Co. Ltd.		202		78,745
Hanmi Science Co. Ltd.		1,224		80,604
Hua Han Health Industry Holdings Ltd.*(c)		3,780,000		255,318
Hypera SA*		17,500		153,007
Il Dong Pharmaceutical Co. Ltd.		480		8,582
Ilyang Pharmaceutical Co. Ltd.*		756		19,806
Ipca Laboratories Ltd.		1,664		18,003
Jubilant Life Sciences Ltd.		1,723		17,042
JW Holdings Corp.		54,325		350,074
JW Pharmaceutical Corp.		224		8,133
Kalbe Farma Tbk. PT		1,019,700		116,767
Kolon Life Science, Inc.*		291		18,595
Komipharm International Co. Ltd.*		1,432		29,344
Livzon Pharmaceutical Group, Inc., Class H		5,408		17,368
Lupin Ltd.		8,316		102,395
Luye Pharma Group Ltd.(a)(b)		75,000		55,724
Mega Lifesciences PCL, NVDR		23,000		24,110
Mezzion Pharma Co. Ltd.*		198		16,194
Natco Pharma Ltd.		2,480		24,144
Oscotec, Inc.*		808		17,501
Pfizer Ltd.		341		14,562
Pharmally International Holding Co. Ltd.		2,000		11,230
Piramal Enterprises Ltd.		3,861		110,339
Richter Gedeon Nyrt		4,851		103,519


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Pharmaceuticals - (continued)
Samjin Pharmaceutical Co. Ltd.		344		11,826
Sanofi India Ltd.		163		14,816
ScinoPharm Taiwan Ltd.		22,000		19,156
Searle Co. Ltd. (The)		5,980		11,393
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H		20,000		60,790
Sihuan Pharmaceutical Holdings Group Ltd.(a)		396,000		83,271
Sino Biopharmaceutical Ltd.		297,000		249,812
SSY Group Ltd.		80,165		71,821
Sun Pharma Advanced Research Co. Ltd.*		4,836		10,679
Sun Pharmaceutical Industries Ltd.		43,659		259,947
Tong Ren Tang Technologies Co. Ltd., Class H(a)		17,000		22,835
Torrent Pharmaceuticals Ltd.		2,009		51,378
TTY Biopharm Co. Ltd.		2,686		6,995
Wockhardt Ltd.*		175		1,086
YiChang HEC ChangJiang Pharmaceutical Co. Ltd., Class H(b)		800		3,237
Yuhan Corp.		436		93,262
Yungjin Pharmaceutical Co. Ltd.*		5,316		30,960
YungShin Global Holding Corp.		11,000		14,376

				4,461,805

Professional Services - 0.0%(d)
51job, Inc., ADR*(a)		1,000		69,640
Benefit Systems SA*		98		25,597
Quess Corp. Ltd.*(b)		1,560		13,770
Sporton International, Inc.		2,386		12,815

				121,822

Real Estate Management & Development - 5.7%
Agile Group Holdings Ltd.(a)		128,000		169,325
Aldar Properties PJSC		323,829		140,182
Aliansce Shopping Centers SA		3,500		19,523
Amata Corp. PCL		44,900		32,336
AP Thailand PCL, NVDR		1,178,100		263,958
Attacq Ltd., REIT		22,672		27,182
Ayala Land, Inc.		237,600		202,446
Bangkok Land PCL, NVDR		100		5
Barwa Real Estate Co.		8,118		90,806
BR Malls Participacoes SA*		39,600		158,170
BR Properties SA		4,577		11,057
Bumi Serpong Damai Tbk. PT*		499,200		47,517
C C Land Holdings Ltd.		56,000		12,918
C&D International Investment Group Ltd.		297,000		266,466
Cathay Real Estate Development Co. Ltd.		33,100		22,303
Central China Real Estate Ltd.		891,000		383,802
China Aoyuan Group Ltd.		123,000		93,582
China Evergrande Group(a)		269,000		841,621
China Jinmao Holdings Group Ltd.		396,000		199,850
China Logistics Property Holdings Co. Ltd.*(b)		59,000		16,467
China Merchants Land Ltd.*		1,584,000		260,410
China Oceanwide Holdings Ltd.*		202,000		9,396


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Real Estate Management & Development - (continued)
China Overseas Grand Oceans Group Ltd.		1,782,000		685,848
China Overseas Land & Investment Ltd.		334,000		1,255,687
China Resources Land Ltd.		243,777		947,557
China SCE Group Holdings Ltd.		2,475,000		1,018,804
China South City Holdings Ltd.		5,544,000		833,716
China Vanke Co. Ltd., Class H		118,800		478,428
China Vast Industrial Urban Development Co. Ltd.(b)		495,000		203,761
Chong Hong Construction Co. Ltd.		24,000		66,012
CIFI Holdings Group Co. Ltd.		323,149		212,091
Ciputra Development Tbk. PT		597,049		41,662
Corp. Inmobiliaria Vesta SAB de CV		702,900		989,248
Country Garden Holdings Co. Ltd.		640,000		903,718
DAMAC Properties Dubai Co. PJSC		104,520		37,278
DLF Ltd.		19,408		44,986
Dongwon Development Co. Ltd.		49,302		188,319
DoubleDragon Properties Corp.*		42,720		16,765
Echo Investment SA		226,215		208,937
Eco World International Bhd.*		68,800		12,598
E-House China Enterprise Holdings Ltd.*(b)		29,100		45,245
Emaar Development PJSC		74,349		80,968
Emaar Malls PJSC		96,296		41,161
Emaar Properties PJSC		312,048		366,166
Fantasia Holdings Group Co. Ltd.		1,782,000		258,896
Filinvest Land, Inc.		13,068,000		373,658
Future Land Development Holdings Ltd.		150,000		126,168
Gemdale Properties & Investment Corp. Ltd.(a)		5,940,000		620,745
Globe Trade Centre SA		11,472		28,698
Godrej Properties Ltd.*		3,326		34,696
Greenland Hong Kong Holdings Ltd.		990,000		287,662
Greentown China Holdings Ltd.		49,000		43,588
Guangzhou R&F Properties Co. Ltd., Class H(a)		79,200		157,255
Guorui Properties Ltd.(b)		891,000		162,378
Hanson International Tbk. PT*		2,409,275		18,622
Highwealth Construction Corp.		81,000		126,425
Hongkong Land Holdings Ltd.		49,500		354,915
Hopson Development Holdings Ltd.		56,000		51,242
Huaku Development Co. Ltd.		297,000		695,093
Hung Sheng Construction Ltd.		693,000		633,866
Iguatemi Empresa de Shopping Centers SA		4,800		58,702
IOI Properties Group Bhd.		145,600		55,453
Jaya Real Property Tbk. PT		4,653,000		193,147
Jiayuan International Group Ltd.		40,430		19,476
Joy City Property Ltd.		480,000		54,443
Kaisa Group Holdings Ltd.(a)		2,772,000		886,707
Kindom Construction Corp.		440,000		295,754
Korea Real Estate Investment & Trust Co. Ltd.		212,553		504,327


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Real Estate Management & Development - (continued)
KWG Group Holdings Ltd.		99,000		97,149
LAMDA Development SA*		45,837		320,834
Land & Houses PCL, NVDR		155,700		53,324
LOG Commercial Properties e Participacoes SA*		1,731		9,147
Logan Property Holdings Co. Ltd.(a)		110,000		148,878
Longfor Group Holdings Ltd.		133,000		411,033
LSR Group PJSC		52,569		526,663
LVGEM China Real Estate Investment Co. Ltd.		84,000		23,551
Mah Sing Group Bhd.		1,544,400		350,657
MAS Real Estate, Inc.		13,905		23,304
MBK PCL, NVDR		29,800		18,790
Medinet Nasr Housing*		20,044		7,558
Megaworld Corp.		585,000		57,927
Midea Real Estate Holding Ltd.*(b)		23,000		47,309
Mingfa Group International Co. Ltd.*(c)		36,000		8,671
Multiplan Empreendimentos Imobiliarios SA*		10,400		74,314
NEPI Rockcastle plc		19,963		188,708
Oberoi Realty Ltd.		4,021		25,140
Origin Property PCL		78,900		18,688
Pakuwon Jati Tbk. PT		534,400		24,860
Palm Hills Developments SAE*		1,632,213		214,983
Parque Arauco SA		32,967		90,849
Phoenix Mills Ltd. (The)		1,462		12,394
Poly Property Group Co. Ltd.		2,475,000		873,711
Powerlong Real Estate Holdings Ltd.		1,980,000		878,127
Prestige Estates Projects Ltd.		6,656		18,708
Pruksa Holding PCL, NVDR		62,400		35,552
Quality Houses PCL, NVDR		5,435,100		514,936
Red Star Macalline Group Corp. Ltd., Class H(b)		871,200		812,722
Redco Group(b)		52,000		20,544
Redsun Properties Group Ltd.*		1,188,000		436,036
Renhe Commercial Holdings Co. Ltd.*(a)		550,000		21,028
Road King Infrastructure Ltd.		297,000		537,474
Robinsons Land Corp.		103,906		43,967
Ronshine China Holdings Ltd.*(b)		54,500		64,941
Ruentex Development Co. Ltd.*		65,400		98,989
Sansiri PCL, NVDR		7,266,600		313,993
Shanghai Industrial Urban Development Group Ltd.		1,782,000		299,774
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B		31,200		42,432
Shenzhen Investment Ltd.		286,793		99,780
Shimao Property Holdings Ltd.		99,000		280,092
Shining Building Business Co. Ltd.*		13,650		4,576
Shui On Land Ltd.		309,000		76,396
Sime Darby Property Bhd.		73,800		20,720
Singha Estate PCL, NVDR*		77,400		8,374
Sino-Ocean Group Holding Ltd.		300,267		146,944
Sinyi Realty, Inc.		22,738		23,055


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Real Estate Management & Development - (continued)
SK D&D Co. Ltd.		258		6,864
Skyfame Realty Holdings Ltd.		96,000		15,660
SM Prime Holdings, Inc.		475,200		347,440
SOHO China Ltd.*		104,000		42,015
SP Setia Bhd. Group		52,000		32,627
Summarecon Agung Tbk. PT		433,400		32,104
Sunac China Holdings Ltd.		206,000		813,845
Sunway Bhd.		100,235		39,644
Supalai PCL, NVDR		48,600		30,023
Talaat Moustafa Group		51,370		33,017
Tian An China Investment Co. Ltd.		594,000		325,513
Times China Holdings Ltd.		66,000		86,130
Tomson Group Ltd.		1,300,000		395,963
UEM Sunrise Bhd.		71,900		13,253
United Development Co. QSC		4,850		22,364
UOA Development Bhd.		17,600		10,313
Vista Land & Lifescapes, Inc.		5,355,900		600,239
WHA Corp. PCL, NVDR		394,090		55,501
Yuexiu Property Co. Ltd.		594,000		115,065
Yuzhou Properties Co. Ltd.		188,395		92,917
Zall Smart Commerce Group Ltd.		151,000		81,016
Zhenro Properties Group Ltd.(b)		122,000		83,492

				29,692,800

Road & Rail - 0.2%
BTS Group Holdings PCL, NVDR		220,640		70,622
Cia de Locacao das Americas*		1,500		16,636
CJ Logistics Corp.*		416		62,812
Container Corp. of India Ltd.		8,712		80,297
Cosan Logistica SA*		4,018		17,714
GMexico Transportes SAB de CV(b)		21,300		29,910
Localiza Rent a Car SA*		19,800		180,998
PKP Cargo SA*		38,115		420,803
Rumo SA*		49,500		267,013

				1,146,805

Semiconductors & Semiconductor Equipment - 3.7%
A-DATA Technology Co. Ltd.		265,000		352,798
Ardentec Corp.		532,720		515,874
ASE Technology Holding Co. Ltd.*		269,420		526,185
ASMedia Technology, Inc.		1,104		21,490
ASPEED Technology, Inc.		1,000		20,246
Chang Wah Technology Co. Ltd.		18,000		152,629
Chipbond Technology Corp.		26,000		55,857
ChipMOS Techinologies, Inc.*		617,000		495,062
Darwin Precisions Corp.		11,000		6,087
DB HiTek Co. Ltd.		50,193		581,935
Elan Microelectronics Corp.*		8,400		23,323
Elite Advanced Laser Corp.		3,960		8,482
Elite Semiconductor Memory Technology, Inc.		12,000		12,617
eMemory Technology, Inc.		3,000		28,319
Eo Technics Co. Ltd.*		390		17,841
Epistar Corp.		58,000		48,992
Faraday Technology Corp.		6,000		8,398
Formosa Advanced Technologies Co. Ltd.		198,000		213,974
Foxsemicon Integrated Technology, Inc.		99,000		444,705


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Semiconductors & Semiconductor Equipment - (continued)
GCL-Poly Energy Holdings Ltd.*(a)		15,543,000		1,228,116
Global Unichip Corp.		5,000		32,225
Globalwafers Co. Ltd.		9,000		84,957
Greatek Electronics, Inc.		26,000		34,487
Hanmi Semiconductor Co. Ltd.		1,248		8,951
Holtek Semiconductor, Inc.		1,000		2,295
Hua Hong Semiconductor Ltd.(b)		20,000		44,248
Innox Advanced Materials Co. Ltd.*		535		23,176
Jusung Engineering Co. Ltd.		774		4,556
King Yuan Electronics Co. Ltd.		99,000		75,084
Kinsus Interconnect Technology Corp.		317,000		455,046
Koh Young Technology, Inc.		416		30,658
LandMark Optoelectronics Corp.		2,000		17,024
LEENO Industrial, Inc.		416		18,694
Lextar Electronics Corp.*		12,000		6,797
Machvision, Inc.		1,000		13,443
Macronix International		198,000		125,033
MediaTek, Inc.		66,000		522,045
Nanya Technology Corp.		99,000		193,672
Novatek Microelectronics Corp.		24,000		123,431
On-Bright Electronics, Inc.		2,000		11,100
Pan Jit International, Inc.*		396,000		368,009
Parade Technologies Ltd.		3,400		55,336
Phison Electronics Corp.		6,000		48,826
Pixart Imaging, Inc.		5,000		14,843
Powertech Technology, Inc.		67,000		154,188
Radiant Opto-Electronics Corp.		19,330		54,803
Realtek Semiconductor Corp.		19,070		101,491
SDI Corp.		7,000		16,998
Semiconductor Manufacturing International Corp.*(a)		148,500		139,857
Seoul Semiconductor Co. Ltd.*		1,370		29,182
Sigurd Microelectronics Corp.		438,000		402,764
Silergy Corp.		3,000		44,334
Silicon Works Co. Ltd.		416		14,394
Sino-American Silicon Products, Inc.*		46,000		96,577
SK Hynix, Inc.		52,470		3,484,953
Taiwan Semiconductor Co. Ltd.		9,000		16,405
Taiwan Semiconductor Manufacturing Co. Ltd.		792,000		5,697,378
Tokai Carbon Korea Co. Ltd.		86		4,166
Topco Scientific Co. Ltd.		173,000		399,818
Toptec Co. Ltd.		29,784		294,454
United Microelectronics Corp.		495,000		182,877
United Renewable Energy Co. Ltd.*		42,000		11,238
Vanguard International Semiconductor Corp.		35,000		75,875
Visual Photonics Epitaxy Co. Ltd.		6,000		13,066
Wafer Works Corp.		16,798		18,263
Win Semiconductors Corp.		14,961		72,805
Winbond Electronics Corp.		251,000		120,102
WONIK IPS Co. Ltd.*		32,769		674,435
XinTec, Inc.*		6,000		7,421


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Semiconductors & Semiconductor Equipment - (continued)
Xinyi Solar Holdings Ltd.		256,000		107,663

				19,312,373

Software - 0.1%
Ahnlab, Inc.		190		8,572
Asseco Poland SA		6,732		87,013
Douzone Bizon Co. Ltd.		669		24,742
Kingdee International Software Group Co. Ltd.(a)		76,000		72,836
Kingsoft Corp. Ltd.		40,000		75,956
Linx SA		3,300		27,104
NIIT Technologies Ltd.		928		17,103
Oracle Financial Services Software Ltd.		883		47,193
Tata Elxsi Ltd.		516		6,341
TOTVS SA		3,500		31,956
XPEC Entertainment, Inc.*‡(c)		14,800		—

				398,816

Specialty Retail - 0.8%
Ace Hardware Indonesia Tbk. PT		163,200		19,856
Arvind Fashions Ltd.*(c)		1,472		14,462
Beauty Community PCL, NVDR		114,400		28,378
Bermaz Auto Bhd.		20,800		11,121
China Harmony New Energy Auto Holding Ltd.(a)		891,000		345,195
China Yongda Automobiles Services Holdings Ltd.(a)		1,534,500		911,309
China ZhengTong Auto Services Holdings Ltd.(a)		1,386,000		731,268
Detsky Mir PJSC(b)		346,995		481,711
Foschini Group Ltd. (The)		10,890		138,977
GOME Retail Holdings Ltd.*(a)		623,447		54,028
Grand Baoxin Auto Group Ltd.(a)		841,500		257,382
Home Product Center PCL, NVDR		207,900		103,809
Hotai Motor Co. Ltd.		13,000		123,985
Hotel Shilla Co. Ltd.		1,418		97,622
Italtile Ltd.		10,931		11,532
JUMBO SA		5,049		82,731
LOTTE Himart Co. Ltd.		936		42,566
M.Video PJSC*		2,600		15,907
Mr Price Group Ltd.		10,494		176,350
Padini Holdings Bhd.		17,200		15,579
Petrobras Distribuidora SA		14,000		102,421
Pou Sheng International Holdings Ltd.(a)		97,000		18,790
PTG Energy PCL, NVDR		26,300		8,755
Seobu T&D*		508		3,937
Shinsegae International, Inc.		81		15,725
Siam Global House PCL, NVDR		58,364		34,933
Super Group Ltd.*		9,092		23,549
Truworths International Ltd.		21,582		130,273
Via Varejo SA		17,100		28,165
Zhongsheng Group Holdings Ltd.		49,500		88,696

				4,119,012

Technology Hardware, Storage & Peripherals - 5.8%
Acer, Inc.*		154,858		98,294
Advantech Co. Ltd.		16,220		120,641
Asustek Computer, Inc.		61,000		468,597
Casetek Holdings Ltd.		218,875		347,319


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Technology Hardware, Storage & Peripherals - (continued)
Catcher Technology Co. Ltd.		68,000		512,410
Chicony Electronics Co. Ltd.		23,992		52,402
China Goldjoy Group Ltd.(a)		13,860,000		662,380
Clevo Co.*		25,000		23,802
CMC Magnetics Corp.*		44,000		9,782
Compal Electronics, Inc.		396,000		234,598
Coolpad Group Ltd.*(c)		326,000		29,913
Darfon Electronics Corp.		244,000		348,668
Ennoconn Corp.		62,000		507,560
Getac Technology Corp.		16,000		23,697
Gigabyte Technology Co. Ltd.		44,000		57,504
HTC Corp.*		29,000		34,502
Inventec Corp.		133,000		102,386
Legend Holdings Corp., Class H(b)		49,500		129,006
Lenovo Group Ltd.		594,000		431,493
Lite-On Technology Corp.		198,000		291,636
Meitu, Inc.*(b)		82,500		28,072
Micro-Star International Co. Ltd.		28,000		67,536
Mitac Holdings Corp.		82,409		73,902
Pegatron Corp.		198,000		333,851
Primax Electronics Ltd.		543,000		890,816
Qisda Corp.		126,000		80,182
Quanta Computer, Inc.		246,000		447,615
Ritek Corp.*		32,590		11,457
Samsung Electronics Co. Ltd.		488,079		20,244,323
Samsung Electronics Co. Ltd. (Preference)		74,151		2,499,135
Sindoh Co. Ltd.		16		689
Transcend Information, Inc.		7,000		15,107
Wistron Corp.		249,573		171,410
Xiaomi Corp., Class B*(b)		554,400		695,234

				30,045,919

Textiles, Apparel & Luxury Goods - 1.4%
Aditya Birla Fashion and Retail Ltd.*		6,536		19,253
Alpargatas SA (Preference)		5,900		32,490
ANTA Sports Products Ltd.		37,000		191,208
Anveshan Heavy Engineering Ltd.*(c)		273		6,402
Arezzo Industria e Comercio SA		1,600		24,157
Arvind Ltd.		7,361		9,124
Bata India Ltd.		2,024		31,834
Bosideng International Holdings Ltd.		126,000		24,087
CCC SA		1,067		51,372
China Dongxiang Group Co. Ltd.		4,653,000		705,656
China Lilang Ltd.		22,000		19,430
Cia Hering		4,800		41,111
Citychamp Watch & Jewellery Group Ltd.		1,782,000		376,989
Eclat Textile Co. Ltd.		9,698		109,855
F&F Co. Ltd.		10,890		416,456
Feng TAY Enterprise Co. Ltd.		17,122		107,286
FF Group*(c)		3,536		19,475
Fila Korea Ltd.		2,297		98,267
Formosa Taffeta Co. Ltd.		33,000		37,811
Fuguiniao Co. Ltd., Class H*(c)		334,800		165,550
Grendene SA		18,822		47,225


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Textiles, Apparel & Luxury Goods - (continued)
Guararapes Confeccoes SA		300		12,932
Handsome Co. Ltd.		1,177		39,140
Hansae Co. Ltd.		1,034		19,004
HengTen Networks Group Ltd.*(a)		1,032,000		33,538
HS Industries Co. Ltd.		47,025		266,263
Hwaseung Enterprise Co. Ltd.		331		2,746
Lao Feng Xiang Co. Ltd., Class B		267,300		914,701
LF Corp.		24,651		546,126
Li Ning Co. Ltd.*		77,000		94,696
LPP SA		59		132,977
Makalot Industrial Co. Ltd.		7,650		47,312
Nan Liu Enterprise Co. Ltd.		2,000		10,286
Nishat Mills Ltd.		198,000		204,662
Page Industries Ltd.		198		65,063
Pou Chen Corp.		219,000		262,331
Quang Viet Enterprise Co. Ltd.		4,000		15,234
Rajesh Exports Ltd.		6,498		55,469
Raymond Ltd.		60		636
Roo Hsing Co. Ltd.*		594,000		282,291
Ruentex Industries Ltd.*		37,800		100,893
Shenzhou International Group Holdings Ltd.		30,600		360,140
Shinkong Textile Co. Ltd.		297,000		405,068
Tainan Spinning Co. Ltd.		48,555		19,045
Taiwan Paiho Ltd.		11,000		24,813
Texhong Textile Group Ltd.		316,500		424,329
Titan Co. Ltd.		12,672		177,429
Welspun India Ltd.		11,024		9,331
Xtep International Holdings Ltd.		12,000		7,754
Youngone Corp.		890		27,756
Youngone Holdings Co. Ltd.*		6,831		378,187

				7,475,190

Thrifts & Mortgage Finance - 0.5%
Dewan Housing Finance Corp. Ltd.		240,966		460,451
GRUH Finance Ltd.		6,573		19,279
Housing Development Finance Corp. Ltd.		72,765		1,966,814
Indiabulls Housing Finance Ltd.		13,860		129,538
LIC Housing Finance Ltd.		12,573		79,350
Malaysia Building Society Bhd.		94,322		22,913
PNB Housing Finance Ltd.(b)		860		10,913

				2,689,258

Tobacco - 0.2%
British American Tobacco Malaysia Bhd.		5,900		55,197
Eastern Tobacco		75,933		72,370
Gudang Garam Tbk. PT		21,000		125,722
ITC Ltd.		122,265		479,038
KT&G Corp.		5,346		476,150

				1,208,477

Trading Companies & Distributors - 0.5%
Adani Enterprises Ltd.		15,288		29,482
AKR Corporindo Tbk. PT		71,700		26,940
Barloworld Ltd.		8,205		74,816
BOC Aviation Ltd.(b)		19,800		167,298
Brighton-Best International Taiwan, Inc.*		16,000		18,749


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Trading Companies & Distributors - (continued)
China Aircraft Leasing Group Holdings Ltd.(b)		346,500		371,375
CITIC Resources Holdings Ltd.		2,970,000		261,167
Ferreycorp SAA		1,242,450		940,656
HC Group, Inc.*		50,000		29,248
LG International Corp.		36,828		570,964
Posco Daewoo Corp.		3,955		71,091
SK Networks Co. Ltd.		12,371		65,933

				2,627,719

Transportation Infrastructure - 1.5%
Adani Ports & Special Economic Zone Ltd.		31,680		150,850
Airports of Thailand PCL		54,000		119,261
Airports of Thailand PCL, NVDR		124,200		274,299
ALEATICA SAB de CV(a)		26,500		32,017
Bangkok Aviation Fuel Services PCL, NVDR		18,800		20,158
Bangkok Expressway & Metro PCL, NVDR		376,200		125,229
Beijing Capital International Airport Co. Ltd., Class H		74,000		69,127
CCR SA		49,500		202,196
China Merchants Port Holdings Co. Ltd.(a)		108,123		213,581
COSCO SHIPPING Ports Ltd.(a)		69,384		72,154
DP World Ltd.		6,732		119,830
Grupo Aeroportuario del Centro Norte SAB de CV		16,000		89,467
Grupo Aeroportuario del Pacifico SAB de CV, Class B		14,200		128,080
Grupo Aeroportuario del Sureste SAB de CV, Class B		7,920		143,984
International Container Terminal Services, Inc.		38,750		80,460
Jasa Marga Persero Tbk. PT		88,423		31,136
Jiangsu Expressway Co. Ltd., Class H		62,000		89,760
Lingkaran Trans Kota Holdings Bhd.		17,200		18,729
Malaysia Airports Holdings Bhd.		31,200		61,242
Novorossiysk Commercial Sea Port PJSC		289,596		30,605
Promotora y Operadora de Infraestructura SAB de CV		9,900		101,517
Promotora y Operadora de Infraestructura SAB de CV, Class L		2,300		15,593
Qingdao Port International Co. Ltd., Class H*(b)		1,386,000		861,978
Shenzhen Expressway Co. Ltd., Class H		896,000		1,013,991
Shenzhen International Holdings Ltd.		49,500		95,887
Sociedad Matriz SAAM SA		5,924,952		571,650
Taiwan High Speed Rail Corp.		99,000		100,381
TAV Havalimanlari Holding A/S		17,622		94,921
Tianjin Port Development Holdings Ltd.*		1,980,000		234,672
Westports Holdings Bhd.		61,600		55,945


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Transportation Infrastructure - (continued)
Yuexiu Transport Infrastructure Ltd.		858,000		661,539
Zhejiang Expressway Co. Ltd., Class H		1,834,000		1,879,180

				7,759,419

Water Utilities - 0.5%
Aguas Andinas SA, Class A		136,323		80,895
Beijing Enterprises Water Group Ltd.*		494,000		285,193
China Everbright Water Ltd.		42,900		11,645
China Water Affairs Group Ltd.		28,000		29,760
Cia de Saneamento Basico do Estado de Sao Paulo*		29,700		353,599
Cia de Saneamento de Minas Gerais-COPASA		5,400		88,364
Cia de Saneamento do Parana (Preference)		435,600		1,614,308
Guangdong Investment Ltd.		122,000		232,597
Inversiones Aguas Metropolitanas SA		11,208		17,502
Manila Water Co., Inc.		33,800		17,837
TTW PCL, NVDR		68,000		27,642

				2,759,342

Wireless Telecommunication Services - 2.0%
Advanced Info Service PCL, NVDR		43,500		248,532
America Movil SAB de CV, Series L		980,100		788,582
Axiata Group Bhd.		128,700		125,998
Bharti Airtel Ltd.		117,513		506,271
China Mobile Ltd.		498,117		5,224,493
DiGi.Com Bhd.		79,200		90,105
Empresa Nacional de Telecomunicaciones SA		5,699		55,125
Far EasTone Telecommunications Co. Ltd.		65,000		151,490
Global Telecom Holding SAE*		170,720		43,621
Globe Telecom, Inc.		1,560		60,472
Indosat Tbk. PT		1,435,500		281,501
Maxis Bhd.		69,300		97,284
Mobile TeleSystems PJSC		85,239		339,439
MTN Group Ltd.		71,973		472,028
PLAY Communications SA(b)		10,800		66,307
PLDT, Inc.		3,300		81,693
Sarana Menara Nusantara Tbk. PT		963,500		58,269
SK Telecom Co. Ltd.		3,564		826,416
Taiwan Mobile Co. Ltd.		66,000		235,242
TIM Participacoes SA*		29,700		101,098
Turkcell Iletisim Hizmetleri A/S		96,525		270,596
Vodacom Group Ltd.		27,423		249,183
Vodafone Idea Ltd.*		145,431		61,550
Vodafone Qatar QSC*		20,384		46,856
XL Axiata Tbk. PT*		149,675		23,245

				10,505,396

TOTAL COMMON STOCKS (Cost $457,320,202)				512,937,725


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 49,126		9,500


	Number of Rights
RIGHTS - 0.0%(d)
Electric Utilities - 0.0%
RusHydro PJSC, expiring 6/28/2019, price 1.00 RUB*‡(c)		565,935		—

Real Estate Management & Development - 0.0%(d)
LOG Commercial Properties e Participacoes SA, expiring 2/8/2019, price 22.00 BRL*		341		1

TOTAL RIGHTS (Cost $—)				1


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(e) - 0.5%
REPURCHASE AGREEMENTS - 0.5%
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $1,481,417, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $1,513,731		1,481,312		1,481,312
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $1,000,067, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $1,020,906		1,000,000		1,000,000

				2,481,312

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $2,481,312)				2,481,312

Total Investments — 99.4% (Cost $459,801,514)				515,428,538
Other Assets Less Liabilities — 0.6%				3,243,020

Net Assets — 100.0%				518,671,558

*	Non-income producing security.

^	Security subject to restrictions on resale.

‡	Value determined using significant unobservable inputs.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $14,423,934, collateralized in the form of cash with a value of $2,481,312 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $2,926,213 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 12, 2019 – February 15, 2048 and $10,128,372 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 8.50%, and maturity dates ranging from March 15, 2019 – November 2, 2086; a total value of $15,535,897.

(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 fair valued as of January 31, 2019 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2019 amounted to $1,296,061, which represents approximately 0.25% of net assets of the Fund.

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

(e)	The security was purchased with cash collateral held from securities on loan at January 31, 2019. The total value of securities purchased was $2,481,312.

Percentages shown are based on Net Assets.

Abbreviations

ADR	American Depositary Receipt

BRL	Brazilian Real

GDR	Global Depositary Receipt

INR	Indian Rupee

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.

RUB	Russian Ruble

SCA	Limited partnership with share capital

FlexShares^® Morningstar Emerging Markets Factor Tilt Index Fund had the following open futures contracts as of January 31, 2019:

FlexShares^® Morningstar Emerging Markets Factor Tilt Index Fund had the following outstanding contracts as of January 31, 2019:

FlexShares^® Morningstar Emerging Markets Factor Tilt Index Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of January 31, 2019:


Investments	Shares		Value ($)
EXCHANGE TRADED FUNDS - 100.9%
FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund(a) (Cost $8,617,921)		132,684		7,916,047

Total Investments — 100.9% (Cost $8,617,921)				7,916,047
Liabilities in excess of other assets — (0.9%)				(69,832	)

Net Assets — 100.0%				7,846,215

(a)	Investment in affiliated Fund. Northern Trust Investments, Inc. is the Investment Adviser to both the Fund and the Underlying Fund.

Percentages shown are based on Net Assets.

The FlexShares^® Currency Hedged Morningstar DM ex-US Factor Tilt Index Fund currently seeks its investment objective by investing a substantial portion of its assets in an affiliated FlexShares^® Fund. The Schedule of Investments of the affiliated FlexShares^® Fund is located elsewhere in this Report.

Investment in a company which was affiliated for the period ended January 31, 2019, was as follows:

FlexShares^® Currency Hedged Morningstar DM ex-US Factor Tilt Index Fund had the following outstanding contracts as of January 31, 2019:


Investments	Shares		Value ($)
EXCHANGE TRADED FUNDS - 99.8%
FlexShares^® Morningstar Emerging Markets Factor Tilt Index Fund(a) (Cost $5,834,460)		107,048		5,679,967

Total Investments — 99.8% (Cost $5,834,460)				5,679,967
Other Assets Less Liabilities — 0.2%				8,759

Net Assets — 100.0%				5,688,726

(a)	Investment in affiliated Fund. Northern Trust Investments, Inc. is the Investment Adviser to both the Fund and the Underlying Fund.

Percentages shown are based on Net Assets.

The FlexShares^® Currency Hedged Morningstar EM Factor Tilt Index Fund currently seeks its investment objective by investing a substantial portion of its assets in an affiliated FlexShares^® Fund. The Schedule of Investments of the affiliated FlexShares^® Fund is located elsewhere in this Report.

Investment in a company which was affiliated for the period ended January 31, 2019, was as follows:

FlexShares^® Currency Hedged Morningstar EM Factor Tilt Index Fund had the following open futures contract as of January 31, 2019:

FlexShares^® Currency Hedged Morningstar EM Factor Tilt Index Fund had the following outstanding contracts as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 98.2%
Aerospace & Defense - 4.3%
Boeing Co. (The)		4,410		1,700,584
Lockheed Martin Corp.		3,960		1,147,173
Textron, Inc.		6,570		349,721

				3,197,478

Air Freight & Logistics - 1.1%
CH Robinson Worldwide, Inc.		4,410		382,656
Expeditors International of Washington, Inc.		5,850		405,405

				788,061

Airlines - 0.5%
United Continental Holdings, Inc.*		4,500		392,715

Banks - 4.0%
Bank of America Corp.		7,290		207,546
Citigroup, Inc.		21,330		1,374,932
Citizens Financial Group, Inc.		11,610		393,811
Fifth Third Bancorp		14,220		381,381
JPMorgan Chase & Co.		1,800		186,300
Regions Financial Corp.		24,930		378,188

				2,922,158

Beverages - 0.6%
Molson Coors Brewing Co., Class B		6,210		413,648

Biotechnology - 3.0%
AbbVie, Inc.		5,220		419,114
Amgen, Inc.		6,840		1,279,832
Biogen, Inc.*		1,440		480,643

				2,179,589

Capital Markets - 2.6%
Goldman Sachs Group, Inc. (The)		5,400		1,069,254
Morgan Stanley		20,160		852,768

				1,922,022

Chemicals - 1.9%
Celanese Corp.		1,710		163,750
CF Industries Holdings, Inc.		8,730		381,064
LyondellBasell Industries NV, Class A		5,130		446,156
Mosaic Co. (The)		12,420		400,918

				1,391,888

Communications Equipment - 2.3%
Cisco Systems, Inc.		33,930		1,604,550
F5 Networks, Inc.*		720		115,884

				1,720,434

Consumer Finance - 2.3%
Ally Financial, Inc.		14,310		372,919
Capital One Financial Corp.		7,560		609,260
Discover Financial Services		6,390		431,261
Synchrony Financial		9,990		300,100

				1,713,540


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Diversified Financial Services - 0.5%
Berkshire Hathaway, Inc., Class B*		1,890		388,470

Diversified Telecommunication Services - 2.6%
CenturyLink, Inc.		22,320		341,942
Verizon Communications, Inc.		28,350		1,560,951

				1,902,893

Electric Utilities - 0.9%
Exelon Corp.		13,950		666,252

Electrical Equipment - 0.7%
Eaton Corp. plc		6,840		521,550

Electronic Equipment, Instruments & Components - 0.5%
CDW Corp.		4,500		374,715

Entertainment - 0.5%
Viacom, Inc., Class B		12,330		362,749

Equity Real Estate Investment Trusts (REITs) - 3.0%
Alexandria Real Estate Equities, Inc.		3,150		414,887
Duke Realty Corp.		15,030		439,477
Equity Residential		1,800		130,608
Host Hotels & Resorts, Inc.		19,530		352,712
Public Storage		2,520		535,550
SL Green Realty Corp.		3,960		366,023

				2,239,257

Food & Staples Retailing - 3.3%
Kroger Co. (The)		15,300		433,449
Walgreens Boots Alliance, Inc.		13,050		942,993
Walmart, Inc.		11,340		1,086,712

				2,463,154

Food Products - 0.7%
Archer-Daniels-Midland Co.		9,360		420,264
Bunge Ltd.		2,070		113,995

				534,259

Gas Utilities - 0.1%
UGI Corp.		810		46,194

Health Care Equipment & Supplies - 1.2%
Danaher Corp.		4,950		549,054
Medtronic plc		3,060		270,474
ResMed, Inc.		990		94,218

				913,746

Health Care Providers & Services - 4.9%
Anthem, Inc.		3,060		927,180
Cigna Corp.		5,857		1,170,287
Humana, Inc.		1,980		611,800
McKesson Corp.		3,150		403,988
UnitedHealth Group, Inc.		1,800		486,360

				3,599,615


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Hotels, Restaurants & Leisure - 0.7%
Yum! Brands, Inc.		5,490		515,950

Household Durables - 0.5%
DR Horton, Inc.		9,000		346,050

Independent Power and Renewable Electricity Producers - 1.2%
AES Corp.		27,810		455,806
NRG Energy, Inc.		10,980		449,192

				904,998

Insurance - 2.4%
Allstate Corp. (The)		5,040		442,865
Athene Holding Ltd., Class A*		270		11,583
Loews Corp.		1,170		56,043
MetLife, Inc.		13,500		616,545
Progressive Corp. (The)		8,730		587,442
Torchmark Corp.		540		45,230

				1,759,708

Interactive Media & Services - 2.7%
Alphabet, Inc., Class A*		215		242,066
Alphabet, Inc., Class C*		360		401,893
Facebook, Inc., Class A*		1,530		255,036
IAC/InterActiveCorp*		2,430		513,410
Match Group, Inc.(a)		10,350		553,622

				1,966,027

Internet & Direct Marketing Retail - 1.9%
Amazon.com, Inc.*		651		1,118,893
eBay, Inc.*		8,820		296,793

				1,415,686

IT Services - 3.7%
Cognizant Technology Solutions Corp., Class A		8,280		576,951
DXC Technology Co.		7,200		461,664
International Business Machines Corp.		1,620		217,760
Mastercard, Inc., Class A		3,780		798,071
Total System Services, Inc.		2,340		209,687
VeriSign, Inc.*		2,880		487,498

				2,751,631

Machinery - 2.0%
Caterpillar, Inc.		900		119,844
Cummins, Inc.		2,790		410,437
Dover Corp.		4,770		418,949
PACCAR, Inc.		7,380		483,537

				1,432,767

Media - 2.2%
CBS Corp. (Non-Voting), Class B		7,830		387,272
Comcast Corp., Class A		10,350		378,500
Discovery, Inc., Class C*		990		26,383
Interpublic Group of Cos., Inc. (The)		16,740		380,835
Omnicom Group, Inc.		5,490		427,561

				1,600,551

Metals & Mining - 1.4%
Freeport-McMoRan, Inc.		23,760		276,566
Nucor Corp.		6,390		391,324


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Metals & Mining - (continued)
Steel Dynamics, Inc.		10,800		395,172

				1,063,062

Multiline Retail - 2.2%
Kohl’s Corp.		5,670		389,472
Macy’s, Inc.		12,060		317,178
Nordstrom, Inc.		7,380		342,506
Target Corp.		7,740		565,020

				1,614,176

Multi-Utilities - 1.2%
CenterPoint Energy, Inc.		13,320		411,854
DTE Energy Co.		3,870		455,693

				867,547

Oil, Gas & Consumable Fuels - 6.9%
Chevron Corp.		13,320		1,527,138
ConocoPhillips		17,820		1,206,236
Exxon Mobil Corp.		3,420		250,617
HollyFrontier Corp.		6,750		380,295
Marathon Petroleum Corp.		8,010		530,743
Phillips 66		6,300		601,083
Valero Energy Corp.		6,930		608,593

				5,104,705

Personal Products - 0.6%
Herbalife Nutrition Ltd.*		7,020		419,094

Pharmaceuticals - 3.8%
Allergan plc		5,220		751,576
Johnson & Johnson		12,870		1,712,739
Mylan NV*		12,240		366,588

				2,830,903

Professional Services - 0.5%
Robert Half International, Inc.		5,940		382,714

Road & Rail - 0.5%
Norfolk Southern Corp.		2,250		377,415

Semiconductors & Semiconductor Equipment - 6.0%
Analog Devices, Inc.		5,040		498,254
Broadcom, Inc.		2,430		651,847
Intel Corp.		32,670		1,539,410
KLA-Tencor Corp.(a)		1,170		124,687
Lam Research Corp.		2,610		442,604
Micron Technology, Inc.*(a)		17,910		684,520
NXP Semiconductors NV		1,350		117,491
Qorvo, Inc.*		5,310		347,062

				4,405,875

Software - 4.3%
Adobe, Inc.*		2,160		535,291
Citrix Systems, Inc.		3,600		369,144
Intuit, Inc.		3,690		796,376
Microsoft Corp.		13,770		1,438,001

				3,138,812

Specialty Retail - 3.3%
Advance Auto Parts, Inc.		540		85,968
Best Buy Co., Inc.		6,750		399,870
Gap, Inc. (The)(a)		11,610		295,359
Home Depot, Inc. (The)		8,280		1,519,628


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Specialty Retail - (continued)
O’Reilly Automotive, Inc.*		450		155,097

				2,455,922

Technology Hardware, Storage & Peripherals - 5.8%
Apple, Inc.		15,660		2,606,450
Hewlett Packard Enterprise Co.		30,510		475,651
HP, Inc.		25,650		565,070
NetApp, Inc.		5,760		367,315
Seagate Technology plc		5,310		235,127

				4,249,613

Textiles, Apparel & Luxury Goods - 0.9%
PVH Corp.		2,430		265,137
Ralph Lauren Corp.		3,510		407,652

				672,789

Tobacco - 1.5%
Altria Group, Inc.		21,600		1,065,960

Trading Companies & Distributors - 0.5%
WW Grainger, Inc.		1,350		398,776

TOTAL COMMON STOCKS (Cost $70,184,479)				72,395,118


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(b) - 0.5%
REPURCHASE AGREEMENTS - 0.5%
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $293,537, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $299,940		293,516		293,516
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $50,003, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $51,045		50,000		50,000

				343,516

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $343,516)				343,516

Total Investments - 98.7% (Cost $70,527,995)				72,738,634
Other Assets Less Liabilities - 1.3%				947,572

Net Assets - 100.0%				73,686,206

*	Non-income producing security.

FlexShares^® US Quality Large Cap Index Fund had the following open futures contracts as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 98.1%
Aerospace & Defense - 0.8%
Arconic, Inc.		782		14,717
United Technologies Corp.		2,300		271,561

				286,278

Air Freight & Logistics - 1.0%
Expeditors International of Washington, Inc.(a)		552		38,254
FedEx Corp.		483		85,766
United Parcel Service, Inc., Class B		2,277		239,996

				364,016

Airlines - 0.2%
Alaska Air Group, Inc.		575		36,771
United Continental Holdings, Inc.*		414		36,130

				72,901

Auto Components - 0.1%
Lear Corp.(a)		138		21,242

Automobiles - 1.0%
Ford Motor Co.		5,129		45,135
General Motors Co.		4,393		171,415
Tesla, Inc.*		460		141,229

				357,779

Banks - 7.8%
Bank of America Corp.		30,245		861,075
Citigroup, Inc.		8,234		530,764
Fifth Third Bancorp		1,955		52,433
JPMorgan Chase & Co.		10,810		1,118,835
KeyCorp(a)		1,403		23,107
PNC Financial Services Group, Inc. (The)		483		59,250
US Bancorp		4,324		221,216

				2,866,680

Beverages - 2.6%
Brown-Forman Corp., Class B(a)		598		28,256
Coca-Cola Co. (The)		8,372		402,944
Coca-Cola European Partners plc		322		15,321
Constellation Brands, Inc., Class A		23		3,994
PepsiCo, Inc.		4,416		497,551

				948,066

Biotechnology - 3.8%
AbbVie, Inc.		4,025		323,167
Amgen, Inc.		1,771		331,372
Biogen, Inc.*		552		184,247
Celgene Corp.*(a)		1,679		148,524
Gilead Sciences, Inc.		4,232		296,282
Vertex Pharmaceuticals, Inc.*		644		122,946

				1,406,538

Building Products - 0.1%
Allegion plc		161		13,824
Johnson Controls International plc		1,104		37,282


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Building Products - (continued)
Lennox International, Inc.		23		5,273

				56,379

Capital Markets - 3.6%
Bank of New York Mellon Corp. (The)(a)		2,507		131,166
BlackRock, Inc.		322		133,656
CME Group, Inc.		322		58,694
Goldman Sachs Group, Inc. (The)		1,311		259,591
Intercontinental Exchange, Inc.		1,771		135,942
Morgan Stanley		4,876		206,255
MSCI, Inc.		437		74,408
Nasdaq, Inc.		644		56,698
S&P Global, Inc.		621		119,015
SEI Investments Co.		69		3,280
State Street Corp.		1,357		96,211
T. Rowe Price Group, Inc.		368		34,393

				1,309,309

Chemicals - 1.2%
Air Products & Chemicals, Inc.		414		68,057
Celanese Corp.		414		39,645
Eastman Chemical Co.		437		35,231
Ecolab, Inc.		943		149,154
FMC Corp.		253		20,189
International Flavors & Fragrances, Inc.		92		13,044
LyondellBasell Industries NV, Class A		322		28,004
Mosaic Co. (The)		506		16,334
PPG Industries, Inc.		345		36,377
Sherwin-Williams Co. (The)		115		48,475

				454,510

Commercial Services & Supplies - 0.5%
Cintas Corp.		184		34,502
Republic Services, Inc.		851		65,280
Waste Management, Inc.		989		94,618

				194,400

Communications Equipment - 1.5%
Cisco Systems, Inc.		11,753		555,799

Consumer Finance - 0.4%
Ally Financial, Inc.		1,380		35,963
Capital One Financial Corp.		1,311		105,653
Synchrony Financial		552		16,582

				158,198

Containers & Packaging - 0.2%
Ball Corp.		736		38,478
International Paper Co.		529		25,091
Westrock Co.		575		23,408

				86,977

Distributors - 0.0%(b)
Genuine Parts Co.		69		6,888

Diversified Financial Services - 1.2%
Berkshire Hathaway, Inc., Class B*		2,185		449,105


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Diversified Financial Services - (continued)
Voya Financial, Inc.		161		7,475

				456,580

Diversified Telecommunication Services - 3.3%
AT&T, Inc.		19,320		580,759
CenturyLink, Inc.		805		12,333
Verizon Communications, Inc.		11,063		609,129

				1,202,221

Electric Utilities - 1.3%
American Electric Power Co., Inc.		874		69,151
Duke Energy Corp.		1,610		141,326
Eversource Energy		1,426		98,979
NextEra Energy, Inc.		828		148,195
PPL Corp.		598		18,729

				476,380

Electrical Equipment - 0.3%
AMETEK, Inc.		299		21,797
Eaton Corp. plc		1,219		92,949

				114,746

Electronic Equipment, Instruments & Components - 0.3%
CDW Corp.		575		47,880
TE Connectivity Ltd.		598		48,408
Trimble, Inc.*(a)		253		9,528

				105,816

Energy Equipment & Services - 0.9%
Baker Hughes a GE Co.		1,127		26,563
Halliburton Co.		2,760		86,554
National Oilwell Varco, Inc.		1,403		41,361
Schlumberger Ltd.		3,634		160,659

				315,137

Entertainment - 1.1%
Electronic Arts, Inc.*		368		33,944
Walt Disney Co. (The)		3,358		374,484

				408,428

Equity Real Estate Investment Trusts (REITs) - 1.0%
AvalonBay Communities, Inc.		437		84,306
HCP, Inc.(a)		828		26,115
Host Hotels & Resorts, Inc.		2,668		48,184
Iron Mountain, Inc.(a)		575		21,390
Prologis, Inc.		299		20,679
Public Storage		230		48,880
Ventas, Inc.		276		17,799
Vornado Realty Trust		575		40,198
Weyerhaeuser Co.		2,507		65,784
WP Carey, Inc.(a)		161		12,057

				385,392

Food & Staples Retailing - 1.3%
Kroger Co. (The)		2,024		57,340
Sysco Corp.		2,093		133,638
Walgreens Boots Alliance, Inc.(a)		1,702		122,987
Walmart, Inc.		1,587		152,082

				466,047

Food Products - 1.1%
Archer-Daniels-Midland Co.		2,093		93,976
Bunge Ltd.		138		7,600
General Mills, Inc.(a)		1,817		80,747
Hershey Co. (The)		667		70,769
JM Smucker Co. (The)(a)		207		21,710


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food Products - (continued)
Kellogg Co.		621		36,645
McCormick & Co., Inc. (Non-Voting)(a)		69		8,531
Mondelez International, Inc., Class A		2,185		101,078

				421,056

Health Care Equipment & Supplies - 3.4%
Abbott Laboratories		5,957		434,742
Baxter International, Inc.		1,058		76,695
Becton Dickinson and Co.		690		172,127
Boston Scientific Corp.*		1,127		42,995
Danaher Corp.		483		53,574
Edwards Lifesciences Corp.*		736		125,429
Hologic, Inc.*		782		34,721
Medtronic plc		2,806		248,022
Varian Medical Systems, Inc.*		230		30,367
Zimmer Biomet Holdings, Inc.		161		17,639

				1,236,311

Health Care Providers & Services - 2.1%
Anthem, Inc.		713		216,039
Cardinal Health, Inc.		644		32,181
Cigna Corp.		989		197,612
CVS Health Corp.		2,990		195,994
Humana, Inc.		207		63,961
McKesson Corp.		414		53,096

				758,883

Health Care Technology - 0.0%(b)
Veeva Systems, Inc., Class A*		115		12,542

Hotels, Restaurants & Leisure - 2.4%
Carnival Corp.		897		51,649
Darden Restaurants, Inc.		161		16,894
Domino’s Pizza, Inc.(a)		115		32,629
Hilton Worldwide Holdings, Inc.		736		54,817
Marriott International, Inc., Class A		713		81,660
McDonald’s Corp.		1,610		287,836
Royal Caribbean Cruises Ltd.		299		35,895
Starbucks Corp.		3,887		264,860
Vail Resorts, Inc.		69		12,990
Yum! Brands, Inc.		598		56,200

				895,430

Household Products - 2.1%
Church & Dwight Co., Inc.		690		44,581
Clorox Co. (The)		437		64,842
Colgate-Palmolive Co.		1,633		105,622
Kimberly-Clark Corp.		414		46,111
Procter & Gamble Co. (The)		5,267		508,108

				769,264

Independent Power and Renewable Electricity Producers - 0.2%
AES Corp.		2,875		47,121
NRG Energy, Inc.		943		38,578

				85,699

Industrial Conglomerates - 1.7%
3M Co.		1,702		340,911
General Electric Co.		23,414		237,886
Roper Technologies, Inc.		115		32,575

				611,372


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Insurance - 1.1%
Aflac, Inc.		2,001		95,448
Alleghany Corp.		23		14,526
Allstate Corp. (The)		1,265		111,155
Aon plc		575		89,832
Arthur J Gallagher & Co.		115		8,592
Hartford Financial Services Group, Inc. (The)		437		20,504
Principal Financial Group, Inc.		230		11,516
Reinsurance Group of America, Inc.		368		53,158

				404,731

Interactive Media & Services - 4.6%
Alphabet, Inc., Class C*		966		1,078,413
Facebook, Inc., Class A*		3,611		601,918

				1,680,331

Internet & Direct Marketing Retail - 5.3%
Amazon.com, Inc.*		1,081		1,857,947
eBay, Inc.*		2,461		82,813

				1,940,760

IT Services - 3.6%
Accenture plc, Class A		1,196		183,646
Akamai Technologies, Inc.*		299		19,465
Alliance Data Systems Corp.		138		24,507
Amdocs Ltd.		276		15,423
Cognizant Technology Solutions Corp., Class A		782		54,490
Fidelity National Information Services, Inc.		299		31,254
Fiserv, Inc.*		736		61,037
International Business Machines Corp.		2,921		392,641
Jack Henry & Associates, Inc.		115		15,358
Leidos Holdings, Inc.		230		13,340
Mastercard, Inc., Class A		2,392		505,023
Square, Inc., Class A*(a)		46		3,282

				1,319,466

Life Sciences Tools & Services - 0.9%
Agilent Technologies, Inc.		1,081		82,210
Mettler-Toledo International, Inc.*		46		29,356
Thermo Fisher Scientific, Inc.		966		237,317

				348,883

Machinery - 1.8%
Caterpillar, Inc.		1,288		171,510
Cummins, Inc.		483		71,054
Deere & Co.		713		116,932
Dover Corp.		276		24,241
IDEX Corp.		115		15,854
Illinois Tool Works, Inc.		506		69,479
Ingersoll-Rand plc		552		55,222
PACCAR, Inc.		621		40,688
Pentair plc		230		9,474
Stanley Black & Decker, Inc.		345		43,622
Xylem, Inc.		391		27,862

				645,938


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Media - 0.0%(b)
Interpublic Group of Cos., Inc. (The)		690		15,698

Metals & Mining - 0.2%
Newmont Mining Corp.(a)		1,702		58,055

Mortgage Real Estate Investment Trusts (REITs) - 0.0%(b)
Annaly Capital Management, Inc.		1,403		14,647

Multiline Retail - 0.5%
Dollar General Corp.		736		84,957
Dollar Tree, Inc.*		276		26,725
Kohl’s Corp.		184		12,639
Target Corp.		966		70,518

				194,839

Multi-Utilities - 0.8%
Ameren Corp.		667		46,250
DTE Energy Co.		437		51,457
NiSource, Inc.		2,001		54,587
Public Service Enterprise Group, Inc.		276		15,056
Sempra Energy(a)		1,081		126,455

				293,805

Oil, Gas & Consumable Fuels - 5.7%
Chevron Corp.		5,796		664,511
ConocoPhillips		2,898		196,166
Devon Energy Corp.		2,139		57,004
Exxon Mobil Corp.		13,248		970,814
Hess Corp.		989		53,406
Occidental Petroleum Corp.		1,242		82,941
Valero Energy Corp.		759		66,655

				2,091,497

Personal Products - 0.2%
Estee Lauder Cos., Inc. (The), Class A		575		78,442

Pharmaceuticals - 5.0%
Allergan plc		897		129,150
Bristol-Myers Squibb Co.		2,668		131,719
Eli Lilly & Co.		2,783		333,570
Merck & Co., Inc.		6,693		498,160
Mylan NV*		368		11,022
Pfizer, Inc.		16,123		684,421
Zoetis, Inc.		736		63,414

				1,851,456

Professional Services - 0.2%
Verisk Analytics, Inc.*		506		59,409

Real Estate Management & Development - 0.2%
CBRE Group, Inc., Class A*		1,610		73,658

Semiconductors & Semiconductor Equipment - 3.7%
Advanced Micro Devices, Inc.*		690		16,843
Intel Corp.		15,065		709,863
Maxim Integrated Products, Inc.		851		46,184
Microchip Technology, Inc.(a)		506		40,667



Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Semiconductors & Semiconductor Equipment - (continued)
NVIDIA Corp.		667		95,881
ON Semiconductor Corp.*		2,093		41,944
QUALCOMM, Inc.		2,139		105,923
Teradyne, Inc.		92		3,311
Texas Instruments, Inc.		2,392		240,827
Xilinx, Inc.		575		64,365

				1,365,808

Software - 8.0%
Adobe, Inc.*		897		222,295
Autodesk, Inc.*		575		84,640
Intuit, Inc.		575		124,096
Microsoft Corp.		15,916		1,662,108
Oracle Corp.		8,303		417,060
Red Hat, Inc.*		345		61,355
salesforce.com, Inc.*		1,955		297,101
Splunk, Inc.*		506		63,169
Symantec Corp.		1,403		29,491

				2,961,315

Specialty Retail - 1.8%
Best Buy Co., Inc.		253		14,988
Burlington Stores, Inc.*		230		39,493
Gap, Inc. (The)(a)		1,104		28,086
Home Depot, Inc. (The)		1,035		189,954
Lowe’s Cos., Inc.		1,725		165,876
TJX Cos., Inc. (The)		3,243		161,274
Ulta Beauty, Inc.*		161		46,999

				646,670

Technology Hardware, Storage & Peripherals - 4.8%
Apple, Inc.		9,706		1,615,467
Dell Technologies, Inc., Class C*		483		23,469
Hewlett Packard Enterprise Co.		2,645		41,235
HP, Inc.		3,680		81,070
NetApp, Inc.		414		26,401

				1,787,642

Textiles, Apparel & Luxury Goods - 0.2%
PVH Corp.		276		30,114
VF Corp.		621		52,270

				82,384

Tobacco - 0.5%
Altria Group, Inc.		3,427		169,122

Trading Companies & Distributors - 0.4%
Fastenal Co.		966		58,404
HD Supply Holdings, Inc.*		414		17,363
United Rentals, Inc.*		253		31,691
WW Grainger, Inc.		92		27,176

				134,634

Water Utilities - 0.1%
American Water Works Co., Inc.		391		37,407

TOTAL COMMON STOCKS (Cost $32,446,838)				36,123,861


Investments	Principal Amount ($)		Value ($)
SECURITIES LENDING REINVESTMENTS(c) - 0.1%
REPURCHASE AGREEMENTS - 0.1%
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $27,344, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $27,940		27,342		27,342
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $10,001, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $10,209		10,000		10,000

				37,342

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $37,342)				37,342

Total Investments — 98.2% (Cost $32,484,180)				36,161,203
Other Assets Less Liabilities — 1.8%				668,912

Net Assets — 100.0%				36,830,115

*	Non-income producing security.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $711,086, collateralized in the form of cash with a value of $37,342 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $435,240 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 14, 2019 – February 15, 2048 and $261,670 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 4.25%, and maturity dates ranging from October 8, 2021 – May 25, 2066; a total value of $734,252.

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

(c)	The security was purchased with cash collateral held from securities on loan at January 31, 2019. The total value of securities purchased was $37,342.

Percentages shown are based on Net Assets.

FlexShares^® STOXX^® US ESG Impact Index Fund had the following open futures contracts as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 98.8%
Aerospace & Defense - 0.5%
Cobham plc*		2,635		3,739
TransDigm Group, Inc.*		119		46,529
United Technologies Corp.		2,890		341,222

				391,490

Air Freight & Logistics - 0.2%
Deutsche Post AG (Registered)		1,547		45,727
Expeditors International of Washington, Inc.		476		32,987
FedEx Corp.		476		84,523
Royal Mail plc		255		899

				164,136

Airlines - 0.2%
Air France-KLM*		119		1,502
Alaska Air Group, Inc.		442		28,266
Deutsche Lufthansa AG (Registered)		493		12,479
easyJet plc		1,309		21,765
International Consolidated Airlines Group SA, DI		3,383		28,659
Qantas Airways Ltd.		2,142		8,497
United Continental Holdings, Inc.*		527		45,991

				147,159

Auto Components - 0.4%
Bridgestone Corp.		5,100		196,259
Cie Generale des Etablissements Michelin SCA		612		66,600
Continental AG		255		40,276
Nokian Renkaat OYJ		153		5,095
Valeo SA		68		2,128

				310,358

Automobiles - 2.5%
Bayerische Motoren Werke AG		782		65,916
Daimler AG (Registered)		2,193		129,995
Ferrari NV		340		42,368
Fiat Chrysler Automobiles NV*		2,159		36,957
Ford Motor Co.		7,786		68,517
General Motors Co.		6,001		234,159
Honda Motor Co. Ltd.		12,800		382,130
Peugeot SA		2,091		52,761
Renault SA		731		51,879
Tesla, Inc.*		510		156,580
Toyota Motor Corp.		11,900		729,877

				1,951,139

Banks - 11.3%
ABN AMRO Group NV, CVA(a)		2,414		60,163
AIB Group plc		1,853		8,292
Australia & New Zealand Banking Group Ltd.		3,536		64,534
Banco Bilbao Vizcaya Argentaria SA		16,711		99,135
Banco BPM SpA*		3,298		6,402


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Banks - (continued)
Banco Comercial Portugues SA, Class R*		19,261		5,326
Banco Santander SA		46,410		220,042
Bank of America Corp.		49,011		1,395,343
Bank of Montreal(b)		1,292		94,620
Bank of Nova Scotia (The)		2,567		146,206
Bank Polska Kasa Opieki SA		357		10,632
Bankinter SA		1,139		8,898
Barclays plc		11,900		24,761
BNP Paribas SA		3,281		154,224
CaixaBank SA		10,081		38,150
Citigroup, Inc.		13,090		843,781
Commerzbank AG*		629		4,519
Commonwealth Bank of Australia		7,463		380,426
Danske Bank A/S		221		4,093
DBS Group Holdings Ltd.		5,100		90,724
DNB ASA		1,105		19,592
Erste Group Bank AG*		1,037		36,173
Hang Seng Bank Ltd.(b)		1,200		27,466
HSBC Holdings plc		68,765		577,929
ING Groep NV		15,215		180,032
Intesa Sanpaolo SpA		48,297		110,549
JPMorgan Chase & Co.		14,943		1,546,601
KBC Group NV		833		56,661
KeyCorp		4,947		81,477
Lloyds Banking Group plc		209,066		159,234
Mediobanca Banca di Credito Finanziario SpA		901		7,853
Mitsubishi UFJ Financial Group, Inc.		57,800		309,952
Mizuho Financial Group, Inc.		238,000		392,329
National Australia Bank Ltd.		9,843		171,244
Nordea Bank Abp		7,225		65,620
Powszechna Kasa Oszczednosci Bank Polski SA		1,258		13,384
Raiffeisen Bank International AG		102		2,701
Royal Bank of Canada		3,417		260,236
Royal Bank of Scotland Group plc(b)		2,856		9,050
Skandinaviska Enskilda Banken AB, Class A		1,088		11,400
Societe Generale SA		2,635		82,059
Standard Chartered plc		10,285		83,057
Svenska Handelsbanken AB, Class A		4,811		52,219
Swedbank AB, Class A		2,907		65,901
Toronto-Dominion Bank (The)		4,131		232,768
UniCredit SpA		6,460		74,778
Unione di Banche Italiane SpA(b)		646		1,660
United Overseas Bank Ltd.		1,700		31,847
US Bancorp		4,216		215,691
Westpac Banking Corp.		9,860		176,500

				8,716,234

Beverages - 2.6%
Anheuser-Busch InBev SA/NV		1,666		127,335
Brown-Forman Corp., Class B		986		46,589


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Beverages - (continued)
Carlsberg A/S, Class B		204		23,369
Coca-Cola Amatil Ltd.		2,023		12,391
Coca-Cola Co. (The)		10,370		499,108
Coca-Cola European Partners plc		646		30,737
Coca-Cola HBC AG, DI*		289		9,725
Diageo plc		5,627		214,770
Heineken Holding NV		238		20,700
Heineken NV		765		68,802
Kirin Holdings Co. Ltd.		3,400		80,915
PepsiCo, Inc.		6,324		712,525
Pernod Ricard SA		561		93,339
Suntory Beverage & Food Ltd.		400		17,697
Treasury Wine Estates Ltd.		1,802		20,300

				1,978,302

Biotechnology - 2.3%
AbbVie, Inc.		4,080		327,583
Amgen, Inc.		1,734		324,449
Biogen, Inc.*		731		243,993
Celgene Corp.*		1,343		118,802
CSL Ltd.		1,309		185,852
Gilead Sciences, Inc.		5,848		409,418
Vertex Pharmaceuticals, Inc.*		901		172,010

				1,782,107

Building Products - 0.6%
Allegion plc		340		29,192
Assa Abloy AB, Class B		2,856		53,113
Cie de Saint-Gobain		884		30,552
Daikin Industries Ltd.		2,000		216,209
Geberit AG (Registered)		136		53,202
Johnson Controls International plc		2,686		90,706
LIXIL Group Corp.		1,700		24,931

				497,905

Capital Markets - 2.9%
Amundi SA(a)		136		7,834
Bank of New York Mellon Corp. (The)		2,635		137,863
BlackRock, Inc.		544		225,803
Credit Suisse Group AG (Registered)*		7,446		90,176
Deutsche Bank AG (Registered)		6,545		58,173
Deutsche Boerse AG		493		65,762
Euronext NV(a)		102		6,303
Goldman Sachs Group, Inc. (The)		1,717		339,983
Hargreaves Lansdown plc		476		10,225
Hong Kong Exchanges & Clearing Ltd.		2,500		77,740
Intercontinental Exchange, Inc.		2,125		163,115
Investec plc		187		1,203
Julius Baer Group Ltd.*		918		36,846
Jupiter Fund Management plc		969		4,173
London Stock Exchange Group plc		663		39,935
Macquarie Group Ltd.		1,411		119,838
Morgan Stanley		6,052		256,000
MSCI, Inc.		289		49,208
Nasdaq, Inc.		391		34,424
Natixis SA		357		1,832
S&P Global, Inc.		816		156,386
Schroders plc		221		7,591


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Capital Markets - (continued)
SEI Investments Co.		459		21,821
St James’s Place plc		1,445		17,830
State Street Corp.		1,462		103,656
TD Ameritrade Holding Corp.		680		38,046
UBS Group AG (Registered)*		14,178		183,638

				2,255,404

Chemicals - 1.7%
Air Liquide SA		918		111,603
Air Products & Chemicals, Inc.		629		103,401
Akzo Nobel NV		975		84,310
Arkema SA		238		22,645
BASF SE		1,258		92,124
Celanese Corp.		340		32,558
Chr Hansen Holding A/S		51		4,844
Covestro AG(a)		136		7,519
Ecolab, Inc.		816		129,067
EMS-Chemie Holding AG (Registered)		34		16,998
Evonik Industries AG		1,037		28,391
FMC Corp.		306		24,419
Givaudan SA (Registered)(b)		17		41,262
Hexpol AB		255		2,256
Incitec Pivot Ltd.		4,658		11,242
International Flavors & Fragrances, Inc.		323		45,795
Johnson Matthey plc(b)		884		35,386
Koninklijke DSM NV		902		84,435
LyondellBasell Industries NV, Class A		578		50,269
Mitsubishi Chemical Holdings Corp.		6,800		58,303
Novozymes A/S, Class B		459		19,194
Nutrien Ltd.		731		37,889
Orica Ltd.		238		2,976
PPG Industries, Inc.		714		75,284
Sherwin-Williams Co. (The)		238		100,322
Sika AG (Registered)(b)		255		33,671
Solvay SA		119		12,983
Sumitomo Chemical Co. Ltd.		8,500		44,206
Umicore SA		425		17,970
Yara International ASA		391		16,158

				1,347,480

Commercial Services & Supplies - 0.3%
Brambles Ltd.		7,582		58,823
Cintas Corp.		204		38,252
Edenred		918		37,331
ISS A/S		697		19,736
Rentokil Initial plc		7,888		34,968
Republic Services, Inc.		476		36,514
Securitas AB, Class B		1,343		21,561

				247,185

Communications Equipment - 1.2%
Cisco Systems, Inc.		16,201		766,145
Nokia OYJ		9,775		61,780
Telefonaktiebolaget LM Ericsson, Class B		8,925		79,274

				907,199


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Construction & Engineering - 0.3%
Balfour Beatty plc		629		2,267
Bouygues SA		1,054		37,395
Eiffage SA		272		25,568
Ferrovial SA		670		15,045
HOCHTIEF AG		17		2,546
Kajima Corp.		3,400		48,299
Skanska AB, Class B		1,870		32,689
Vinci SA		1,020		89,980

				253,789

Construction Materials - 0.1%
CRH plc		1,309		37,700
HeidelbergCement AG		85		5,887
Imerys SA		51		2,692
LafargeHolcim Ltd. (Registered)*		1,394		65,520

				111,799

Consumer Finance - 0.2%
Capital One Financial Corp.		1,360		109,602
Synchrony Financial		1,445		43,408

				153,010

Containers & Packaging - 0.2%
Amcor Ltd.		2,703		26,903
Ball Corp.		1,207		63,102
DS Smith plc		994		4,409
Huhtamaki OYJ		289		9,507
International Paper Co.		459		21,770
RPC Group plc		136		1,422
Smurfit Kappa Group plc		306		8,841
Westrock Co.		850		34,604

				170,558

Distributors - 0.1%
Genuine Parts Co.		340		33,939
Inchcape plc		3,162		23,833

				57,772

Diversified Financial Services - 0.1%
Eurazeo SE		88		6,553
EXOR NV		136		8,708
Kinnevik AB, Class B		408		9,948
Standard Life Aberdeen plc		535		1,771
Voya Financial, Inc.		952		44,202
Wendel SA		34		4,155

				75,337

Diversified Telecommunication Services - 2.6%
AT&T, Inc.		19,652		590,739
BCE, Inc.		1,411		61,380
BT Group plc		26,656		81,490
CenturyLink, Inc.		3,026		46,358
Deutsche Telekom AG (Registered)		9,367		152,516
Elisa OYJ		272		11,407
Iliad SA		17		1,953
Koninklijke KPN NV		15,657		48,274
Orange SA		5,253		81,794
PCCW Ltd.		17,000		10,118
Proximus SADP		493		13,243
Singapore Telecommunications Ltd.		20,400		45,817
Swisscom AG (Registered)(b)		102		48,939
Telecom Italia SpA*		3,842		2,143


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Diversified Telecommunication Services - (continued)
Telenor ASA		1,088		20,589
Telia Co. AB		7,293		31,744
Telstra Corp. Ltd.		52,853		119,852
Verizon Communications, Inc.		11,101		611,221

				1,979,577

Electric Utilities - 1.0%
CLP Holdings Ltd.		5,000		57,891
Contact Energy Ltd.		799		3,347
EDP - Energias de Portugal SA		3,400		12,445
Electricite de France SA		1,363		22,568
Endesa SA		255		6,385
Enel SpA		22,729		137,339
Evergy, Inc.		612		35,080
Eversource Energy		1,275		88,498
Fortum OYJ		1,530		34,796
Iberdrola SA		17,034		140,729
Iberdrola SA*(c)		378		3,123
NextEra Energy, Inc.		884		158,218
Orsted A/S(a)		255		18,380
Terna Rete Elettrica Nazionale SpA		5,134		31,646

				750,445

Electrical Equipment - 0.6%
ABB Ltd. (Registered)		4,301		82,175
Eaton Corp. plc		1,258		95,922
Legrand SA		714		42,406
Rockwell Automation, Inc.		425		72,046
Schneider Electric SE		1,139		81,135
Signify NV(a)		187		4,650
Vestas Wind Systems A/S		561		46,384

				424,718

Electronic Equipment, Instruments & Components - 0.8%
CDW Corp.		510		42,468
Electrocomponents plc		4,131		29,496
Halma plc		1,088		20,037
Hexagon AB, Class B		901		43,978
Hitachi Ltd.		8,500		266,567
Ingenico Group SA		3		164
Omron Corp.		1,700		69,512
Shimadzu Corp.		1,700		38,974
Spectris plc		850		29,083
TE Connectivity Ltd.		1,020		82,569

				622,848

Energy Equipment & Services - 0.4%
Halliburton Co.		2,584		81,034
Saipem SpA*(b)		3,213		15,304
SBM Offshore NV		1,411		23,347
Schlumberger Ltd.		4,556		201,421
WorleyParsons Ltd.		1,571		15,899

				337,005

Entertainment - 1.0%
CD Projekt SA*		68		3,479
Spotify Technology SA*		255		34,540
Ubisoft Entertainment SA*		459		40,818
Viacom, Inc., Class B		1,088		32,009
Vivendi SA		2,329		59,434
Walt Disney Co. (The)		5,321		593,398

				763,678


Investments	Shares			Value ($)
COMMON STOCKS - (continued)
Equity Real Estate Investment Trusts (REITs) - 0.9%
AvalonBay Communities, Inc.		408			78,712
British Land Co. plc (The)		1,768			13,336
Dexus		1,938			16,222
Gecina SA		242			35,599
GPT Group (The)		816			3,451
Great Portland Estates plc		—	(d)		4
HCP, Inc.		289			9,115
Host Hotels & Resorts, Inc.		3,043			54,957
ICADE		153			12,921
Iron Mountain, Inc.		1,309			48,695
Klepierre SA		425			14,611
Land Securities Group plc		3,026			34,440
Link REIT		4,500			49,320
Merlin Properties Socimi SA		2,465			33,121
Mirvac Group		9,945			17,403
Nomura Real Estate Master Fund, Inc.		34			48,705
Stockland		3,995			11,011
Unibail-Rodamco-Westfield		187			33,722
Vicinity Centres		1,581			3,009
Vornado Realty Trust		901			62,989
Weyerhaeuser Co.		2,992			78,510
WP Carey, Inc.		527			39,467

					699,320

Food & Staples Retailing - 1.6%
Carrefour SA		1,751			34,729
ICA Gruppen AB		153			5,378
J Sainsbury plc		7,582			28,445
Kesko OYJ, Class B		187			10,776
Koninklijke Ahold Delhaize NV		4,930			130,223
Kroger Co. (The)		3,077			87,171
Lawson, Inc.(b)		700			43,159
Loblaw Cos. Ltd.		799			38,712
Metcash Ltd.		986			1,783
Metro, Inc.		289			10,512
Sysco Corp.		2,057			131,339
Tesco plc		30,243			88,756
Walgreens Boots Alliance, Inc.		1,598			115,472
Walmart, Inc.		4,097			392,616
Woolworths Group Ltd.		4,284			91,742

					1,210,813

Food Products - 2.5%
Ajinomoto Co., Inc.		3,400			58,765
Archer-Daniels-Midland Co.		2,652			119,075
Associated British Foods plc		119			3,738
Barry Callebaut AG (Registered)		17			28,959
Bunge Ltd.		68			3,745
Conagra Brands, Inc.		901			19,498
Danone SA		2,091			152,357
General Mills, Inc.		2,312			102,745
Hershey Co. (The)		595			63,130
JM Smucker Co. (The)		306			32,093
Kellogg Co.		1,020			60,190
Kerry Group plc, Class A		102			10,446
McCormick & Co., Inc. (Non-Voting)		374			46,241


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food Products - (continued)
Mondelez International, Inc., Class A		2,771		128,186
MOWI ASA		1,513		33,337
Nestle SA (Registered)		11,815		1,029,421
Nichirei Corp.		1,700		45,862
Orkla ASA		748		6,029

				1,943,817

Gas Utilities - 0.2%
Hong Kong & China Gas Co. Ltd.		18,820		40,822
Italgas SpA		357		2,162
Naturgy Energy Group SA		901		25,174
Rubis SCA		209		12,482
Tokyo Gas Co. Ltd.		1,700		44,652

				125,292

Health Care Equipment & Supplies - 2.1%
Abbott Laboratories		6,307		460,285
Ansell Ltd.		1,139		19,450
Baxter International, Inc.		1,530		110,910
Becton Dickinson and Co.		748		186,596
Coloplast A/S, Class B		289		26,435
Edwards Lifesciences Corp.*		646		110,091
Fisher & Paykel Healthcare Corp. Ltd.		1,156		10,071
Hologic, Inc.*		476		21,134
Koninklijke Philips NV		4,063		160,189
Medtronic plc		2,465		217,881
Sartorius AG (Preference)		187		28,088
Smith & Nephew plc		2,703		51,024
Sonova Holding AG (Registered)		255		47,859
Straumann Holding AG (Registered)(b)		51		37,038
Sysmex Corp.		1,000		55,564
Varian Medical Systems, Inc.*		221		29,179
Zimmer Biomet Holdings, Inc.		612		67,051

				1,638,845

Health Care Providers & Services - 1.5%
Anthem, Inc.		952		288,456
Cigna Corp.		1,003		200,409
CVS Health Corp.		4,675		306,446
Fresenius Medical Care AG & Co. KGaA		578		42,685
Fresenius SE & Co. KGaA		1,292		67,158
Humana, Inc.		340		105,057
Laboratory Corp. of America Holdings*		119		16,583
McKesson Corp.		408		52,326
Orpea		85		8,456
Ramsay Health Care Ltd.		255		10,546
Ryman Healthcare Ltd.		340		2,472
Sonic Healthcare Ltd.		2,227		37,380

				1,137,974

Hotels, Restaurants & Leisure - 2.5%
Accor SA		799		34,866
Aristocrat Leisure Ltd.		1,156		20,761
Carnival Corp.		1,683		96,907
Carnival plc		323		18,304
Compass Group plc		4,760		102,094
Domino’s Pizza, Inc.		136		38,587


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Hotels, Restaurants & Leisure - (continued)
Hilton Worldwide Holdings, Inc.		884		65,840
InterContinental Hotels Group plc		517		29,508
Marriott International, Inc., Class A		1,462		167,443
McDonald’s Corp.		2,788		498,439
Merlin Entertainments plc(a)		4,539		20,187
Oriental Land Co. Ltd.		1,100		112,497
Royal Caribbean Cruises Ltd.		510		61,226
Sands China Ltd.		6,800		32,324
Sodexo SA(b)		323		33,727
Starbucks Corp.		6,358		433,234
Tabcorp Holdings Ltd.(b)		2,074		7,032
TUI AG, DI		1,462		22,194
Whitbread plc		833		53,550
William Hill plc		3,706		8,590
Yum! Brands, Inc.		918		86,274

				1,943,584

Household Durables - 0.7%
Barratt Developments plc(b)		476		3,372
Berkeley Group Holdings plc		272		13,428
Electrolux AB, Series B		85		2,008
Husqvarna AB, Class B		595		4,538
Panasonic Corp.		11,900		116,124
Persimmon plc		391		12,216
SEB SA		102		15,683
Sekisui House Ltd.(b)		3,400		50,799
Sony Corp.		6,000		301,406
Taylor Wimpey plc		765		1,662
Techtronic Industries Co. Ltd.		2,000		11,584

				532,820

Household Products - 1.5%
Church & Dwight Co., Inc.		544		35,148
Clorox Co. (The)		272		40,359
Colgate-Palmolive Co.		2,414		156,138
Essity AB, Class B		2,057		56,886
Kimberly-Clark Corp.		680		75,739
Procter & Gamble Co. (The)		6,698		646,156
Reckitt Benckiser Group plc		2,142		165,201

				1,175,627

Industrial Conglomerates - 1.6%
3M Co.		2,618		524,385
CK Hutchison Holdings Ltd.		3,000		30,185
General Electric Co.		47,141		478,953
Roper Technologies, Inc.		204		57,785
Siemens AG (Registered)		1,105		121,442
Smiths Group plc		1,904		36,179

				1,248,929

Insurance - 2.6%
Admiral Group plc		493		13,431
Aegon NV		4,158		21,384
Aflac, Inc.		2,873		137,042
Ageas		510		23,747
AIA Group Ltd.		23,800		213,835
Alleghany Corp.		51		32,210
Allstate Corp. (The)		1,309		115,022
Aon plc		901		140,763
Arthur J Gallagher & Co.		425		31,752
Assicurazioni Generali SpA		4,505		79,064
Aviva plc		12,410		67,601


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Insurance - (continued)
AXA SA		6,562		152,436
CNP Assurances		782		17,802
Direct Line Insurance Group plc		1,547		6,852
Hartford Financial Services Group, Inc. (The)		1,445		67,799
Insurance Australia Group Ltd.		8,262		42,712
Legal & General Group plc		17,306		59,053
Mapfre SA		527		1,468
Medibank Pvt Ltd.		5,168		9,873
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		374		83,469
Old Mutual Ltd.		6,368		11,076
Phoenix Group Holdings plc		1,479		12,350
Poste Italiane SpA(a)		2,142		18,468
Power Corp. of Canada		119		2,367
Powszechny Zaklad Ubezpieczen SA		1,615		19,422
Principal Financial Group, Inc.		1,003		50,220
Prudential plc		7,616		148,824
RSA Insurance Group plc		2,210		14,908
Sampo OYJ, Class A		850		38,984
Storebrand ASA		3,927		30,088
Swiss Life Holding AG (Registered)*		136		56,108
Swiss Re AG		1,054		101,119
Tryg A/S		289		7,386
Zurich Insurance Group AG*		544		170,915

				1,999,550

Interactive Media & Services - 2.5%
Alphabet, Inc., Class C*		1,649		1,840,894
carsales.com Ltd.(b)		748		6,878
Yahoo Japan Corp.		22,100		59,499

				1,907,271

Internet & Direct Marketing Retail - 4.2%
Amazon.com, Inc.*		1,819		3,126,370
eBay, Inc.*		3,553		119,558
Zalando SE*(a)		255		7,798

				3,253,726

IT Services - 2.2%
Accenture plc, Class A		1,751		268,866
Akamai Technologies, Inc.*		408		26,561
Amadeus IT Group SA		986		71,820
Amdocs Ltd.		408		22,799
Atos SE		51		4,665
Capgemini SE		561		62,106
Fiserv, Inc.*		816		67,671
Fujitsu Ltd.		1,700		113,781
International Business Machines Corp.		3,978		534,723
Link Administration Holdings Ltd.		442		2,301
Mastercard, Inc., Class A		2,465		520,436
Wirecard AG		136		22,581

				1,718,310

Leisure Products - 0.1%
Hasbro, Inc.		578		52,344
Yamaha Corp.		900		39,364

				91,708


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Life Sciences Tools & Services - 0.5%
Agilent Technologies, Inc.		663		50,421
Lonza Group AG (Registered)*		85		22,439
Mettler-Toledo International, Inc.*		51		32,546
Thermo Fisher Scientific, Inc.		1,105		271,465

				376,871

Machinery - 0.9%
Alstom SA*		51		2,059
Atlas Copco AB, Class A*		1,802		46,906
CNH Industrial NV		2,329		22,886
Cummins, Inc.		493		72,525
Deere & Co.		680		111,520
Dover Corp.		357		31,355
Georg Fischer AG (Registered)		17		15,071
IHI Corp.		800		25,250
IMI plc		374		4,708
KION Group AG		17		983
Kone OYJ, Class B		1,275		62,016
Metso OYJ		85		2,497
PACCAR, Inc.		748		49,009
Rotork plc		3,604		13,028
Sandvik AB		2,023		32,266
Schindler Holding AG		170		36,156
SKF AB, Class B		85		1,427
Spirax-Sarco Engineering plc		102		8,594
Stanley Black & Decker, Inc.		459		58,036
Volvo AB, Class B		3,230		46,430
Wartsila OYJ Abp		102		1,665
Xylem, Inc.		595		42,400

				686,787

Marine - 0.0%(e)
AP Moller - Maersk A/S, Class B		17		22,630

Media - 0.7%
Comcast Corp., Class A		8,228		300,898
Eutelsat Communications SA		578		12,270
Informa plc		3,689		32,824
JCDecaux SA		425		12,621
Lagardere SCA		663		17,368
Pearson plc		3,927		46,802
Publicis Groupe SA		425		25,992
Schibsted ASA, Class A		102		3,577
SES SA, FDR		1,360		27,809
Singapore Press Holdings Ltd.		15,300		28,560
Telenet Group Holding NV		51		2,365
WPP plc		2,210		25,286

				536,372

Metals & Mining - 1.5%
Agnico Eagle Mines Ltd.		35		1,523
Alumina Ltd.		4,012		7,109
Anglo American plc		1,768		45,184
ArcelorMittal(b)		1,224		28,363
BHP Group Ltd.		11,594		294,445
BHP Group plc		6,222		138,338
BlueScope Steel Ltd.		3,247		29,476
Boliden AB*		272		6,789
Glencore plc*		28,883		117,573
Newmont Mining Corp.		2,108		71,904


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Metals & Mining - (continued)
Norsk Hydro ASA		3,145		14,531
OZ Minerals Ltd.		2,465		17,542
Rio Tinto Ltd.		1,394		88,481
Rio Tinto plc		3,247		178,859
South32 Ltd.		22,831		58,765
Sumitomo Metal Mining Co. Ltd.		1,700		48,986
Teck Resources Ltd., Class B		697		16,983
voestalpine AG(b)		51		1,632

				1,166,483

Multiline Retail - 0.7%
Canadian Tire Corp. Ltd., Class A(b)		221		25,149
Dollar General Corp.		1,003		115,776
Isetan Mitsukoshi Holdings Ltd.		1,700		17,464
Kohl’s Corp.		442		30,361
Marui Group Co. Ltd.		1,700		34,459
Next plc(b)		510		32,518
Target Corp.		1,972		143,956
Wesfarmers Ltd.		5,406		126,965

				526,648

Multi-Utilities - 0.6%
AGL Energy Ltd.		2,312		36,110
E.ON SE		4,828		53,626
Engie SA		6,052		97,117
National Grid plc		8,245		89,500
RWE AG		1,190		29,549
Sempra Energy		799		93,467
Suez		1,139		14,618
Veolia Environnement SA		2,040		43,117

				457,104

Oil, Gas & Consumable Fuels - 4.4%
Aker BP ASA		85		2,833
BP plc		23,426		160,273
Caltex Australia Ltd.		663		12,975
Canadian Natural Resources Ltd.		2,516		67,570
Chevron Corp.		5,151		590,562
Devon Energy Corp.		1,530		40,774
Enagas SA		578		16,866
Eni SpA		7,089		120,436
Equinor ASA		3,366		77,042
Exxon Mobil Corp.		15,079		1,104,989
Galp Energia SGPS SA		1,156		18,099
Inpex Corp.		5,100		48,994
Koninklijke Vopak NV		323		16,460
Neste OYJ		442		40,645
Oil Search Ltd.		6,885		39,208
OMV AG		102		5,080
Polski Koncern Naftowy ORLEN SA		731		20,609
Royal Dutch Shell plc, Class A		15,232		473,303
Snam SpA		7,735		37,011
TOTAL SA		8,143		448,310
Woodside Petroleum Ltd.		3,672		91,890

				3,433,929

Paper & Forest Products - 0.1%
Mondi plc		1,139		27,561
Stora Enso OYJ, Class R		1,598		21,444


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Paper & Forest Products - (continued)
Svenska Cellulosa AB SCA, Class B		2,567		22,546
UPM-Kymmene OYJ		1,190		34,492

				106,043

Personal Products - 1.5%
Beiersdorf AG		289		28,950
Estee Lauder Cos., Inc. (The), Class A		935		127,553
L’Oreal SA		765		184,426
Shiseido Co. Ltd.		3,800		226,086
Unilever NV, CVA		6,936		371,234
Unilever plc		4,097		214,740

				1,152,989

Pharmaceuticals - 6.8%
Allergan plc		901		129,726
Astellas Pharma, Inc.		18,700		276,557
AstraZeneca plc		4,318		314,224
Bayer AG (Registered)		1,819		138,173
Eisai Co. Ltd.		2,100		162,454
Eli Lilly & Co.		3,451		413,637
GlaxoSmithKline plc		11,424		221,989
H Lundbeck A/S		238		10,450
Ipsen SA		51		6,437
Merck & Co., Inc.		7,157		532,696
Merck KGaA		425		44,660
Mylan NV*		2,074		62,116
Novo Nordisk A/S, Class B		4,998		233,658
Orion OYJ, Class B		459		16,238
Otsuka Holdings Co. Ltd.		3,400		139,118
Pfizer, Inc.		20,910		887,629
Roche Holding AG		2,720		723,661
Sanofi		3,468		301,715
Shionogi & Co. Ltd.		2,200		135,158
Takeda Pharmaceutical Co. Ltd.		10,267		414,057
UCB SA		357		30,985
Vifor Pharma AG		221		28,135
Zoetis, Inc.		935		80,560

				5,304,033

Professional Services - 0.6%
Adecco Group AG (Registered)		391		19,599
Bureau Veritas SA		1,207		26,868
Experian plc		1,326		33,351
Randstad NV		340		16,429
RELX plc		5,899		130,870
SGS SA (Registered)		17		41,039
Teleperformance		221		38,114
Thomson Reuters Corp.		153		8,005
Verisk Analytics, Inc.*		357		41,915
Wolters Kluwer NV		1,122		70,037

				426,227

Real Estate Management & Development - 0.6%
CapitaLand Ltd.		8,500		21,050
Castellum AB		952		18,036
CBRE Group, Inc., Class A*		1,088		49,776
City Developments Ltd.		1,700		11,619
CK Asset Holdings Ltd.		4,000		33,517
Fabege AB		1,054		15,359
Hulic Co. Ltd.		3,400		31,335


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Real Estate Management & Development - (continued)
Mitsubishi Estate Co. Ltd.		6,800		120,248
Mitsui Fudosan Co. Ltd.		5,100		123,575

				424,515

Road & Rail - 0.3%
Aurizon Holdings Ltd.		6,494		20,834
Canadian National Railway Co.		1,547		129,162
Canadian Pacific Railway Ltd.		306		62,750
DSV A/S		561		44,781

				257,527

Semiconductors & Semiconductor Equipment - 2.8%
Advanced Micro Devices, Inc.*		2,703		65,980
Analog Devices, Inc.		748		73,947
ASM International NV*		17		828
ASML Holding NV		1,666		292,903
Infineon Technologies AG		1,564		34,843
Intel Corp.		20,553		968,457
Lam Research Corp.		323		54,774
Microchip Technology, Inc.		731		58,751
ON Semiconductor Corp.*		1,445		28,958
QUALCOMM, Inc.		4,097		202,884
Skyworks Solutions, Inc.		425		31,042
STMicroelectronics NV		1,530		24,359
Texas Instruments, Inc.		3,281		330,331

				2,168,057

Software - 7.0%
Adobe, Inc.*		1,343		332,822
Autodesk, Inc.*		731		107,603
Dassault Systemes SE		444		55,812
Gemalto NV*		210		12,207
Intuit, Inc.		884		190,785
Microsoft Corp.		34,017		3,552,395
Oracle Corp.		11,917		598,591
salesforce.com, Inc.*		2,057		312,602
SAP SE		1,428		147,880
SimCorp A/S		408		32,261
Splunk, Inc.*		323		40,323
Symantec Corp.		2,040		42,881
Temenos AG (Registered)*		102		13,767

				5,439,929

Specialty Retail - 0.9%
Best Buy Co., Inc.		714		42,298
Burlington Stores, Inc.*		289		49,624
Dufry AG (Registered)*(b)		17		1,701
Gap, Inc. (The)		1,700		43,248
Hennes & Mauritz AB, Class B		2,567		39,893
Industria de Diseno Textil SA		1,802		50,349
JB Hi-Fi Ltd.		782		12,755
Kingfisher plc		1,700		4,980
Lowe’s Cos., Inc.		2,958		284,441
TJX Cos., Inc. (The)		3,451		171,618

				700,907

Technology Hardware, Storage & Peripherals - 4.0%
Apple, Inc.		16,218		2,699,324
Dell Technologies, Inc., Class C*		357		17,347
Hewlett Packard Enterprise Co.		6,018		93,821
HP, Inc.		7,344		161,788
NEC Corp.		1,700		57,016
NetApp, Inc.		408		26,018


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Technology Hardware, Storage & Peripherals - (continued)
Ricoh Co. Ltd.		5,100		54,266
Xiaomi Corp., Class B*(a)		6,800		8,527

				3,118,107

Textiles, Apparel & Luxury Goods - 1.1%
adidas AG		425		101,288
Burberry Group plc		544		12,892
Cie Financiere Richemont SA (Registered)		1,156		79,723
EssilorLuxottica SA - IM		282		35,691
EssilorLuxottica SA - MO		568		72,116
Hermes International		51		30,688
HUGO BOSS AG		85		6,110
Kering SA		255		128,012
LVMH Moet Hennessy Louis Vuitton SE		816		261,935
Shenzhou International Group Holdings Ltd.		1,000		11,769
Tapestry, Inc.		884		34,220
VF Corp.		969		81,561

				856,005

Tobacco - 0.8%
Altria Group, Inc.		4,658		229,872
British American Tobacco plc		3,604		127,388
Imperial Brands plc		1,836		60,983
Japan Tobacco, Inc.		8,100		204,677

				622,920

Trading Companies & Distributors - 0.7%
Brenntag AG		238		11,265
Bunzl plc		1,564		49,377
Ferguson plc		804		53,875
HD Supply Holdings, Inc.*		85		3,565
ITOCHU Corp.(b)		6,800		124,435
Marubeni Corp.		8,500		66,122
Mitsui & Co. Ltd.		8,500		138,438
Rexel SA		748		8,549
Sojitz Corp.		8,500		32,647
Toyota Tsusho Corp.		1,700		54,048
WW Grainger, Inc.		51		15,065

				557,386

Transportation Infrastructure - 0.3%
Aena SME SA(a)		187		32,358
Aeroports de Paris		187		35,877
Auckland International Airport Ltd.		4,454		22,706
Fraport AG Frankfurt Airport Services Worldwide		51		4,034
Getlink SE		1,717		25,179
Transurban Group		8,925		79,198

				199,352

Water Utilities - 0.1%
American Water Works Co., Inc.		459		43,913
Severn Trent plc		1,156		30,390

				74,303

Wireless Telecommunication Services - 1.1%
Freenet AG		680		14,497
KDDI Corp.		8,500		212,676
NTT DOCOMO, Inc.		5,100		122,099
Rogers Communications, Inc., Class B		646		34,964


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Wireless Telecommunication Services - (continued)
SoftBank Group Corp.		4,100		321,204
Tele2 AB, Class B		272		3,394
Vodafone Group plc		92,667		168,927

				877,761

TOTAL COMMON STOCKS (Cost $73,059,640)				76,517,105


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(f) - 0.2%
REPURCHASE AGREEMENTS - 0.2%
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $158,330, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $161,784		158,319		158,319
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $20,002, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $20,418		20,000		20,000

				178,319

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $178,319)				178,319

Total Investments - 99.0% (Cost $73,237,959)				76,695,424
Other Assets Less Liabilities - 1.0%				759,607

Net Assets - 100.0%				77,455,031

*	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)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $620,750, collateralized in the form of cash with a value of $178,319 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $300,742 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 14, 2019 – May 15, 2047 and $179,380 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 5.00%, and maturity dates ranging from July 15, 2019 – May 25, 2066; a total value of $658,441.

(c)	Security fair valued as of January 31, 2019 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2019 amounted to $3,123, which represents approximately 0.00% of net assets of the Fund.

(d)	Amount represents less than one share.

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

(f)	The security was purchased with cash collateral held from securities on loan at January 31, 2019. The total value of securities purchased was $178,319.

Percentages shown are based on Net Assets.


Abbreviations

CVA		Dutch Certification
DI		Depositary Interest
FDR		Fiduciary Depositary Receipt
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.
SCA		Limited partnership with share capital

FlexShares^® STOXX^® Global ESG Impact Index Fund had the following open futures contracts as of January 31, 2019:

FlexShares^® STOXX^® Global ESG Impact Index Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 99.3%
Building Products - 0.1%
Universal Forest Products, Inc.		187,055		5,765,035

Chemicals - 13.5%
CF Industries Holdings, Inc.		1,975,981		86,251,571
FMC Corp.		976,087		77,891,743
Incitec Pivot Ltd.		13,532,579		32,660,696
Israel Chemicals Ltd.		5,186,525		30,049,226
K+S AG (Registered)		1,455,628		28,361,020
Mosaic Co. (The)		2,622,171		84,643,680
Nutrien Ltd.		5,067,490		262,654,416
Sasol Ltd.		561,165		16,933,059
Scotts Miracle-Gro Co. (The)(a)		295,887		21,999,198
Sirius Minerals plc*(a)		37,193,336		9,633,524
UPL Ltd.		2,251,462		24,898,409
Yara International ASA		1,367,202		56,499,438

				732,475,980

Diversified Financial Services - 0.1%
Metro Pacific Investments Corp.		44,213,000		4,123,492

Equity Real Estate Investment Trusts (REITs) - 1.3%
Rayonier, Inc.(a)		374,110		11,387,908
Weyerhaeuser Co.		2,350,091		61,666,388

				73,054,296

Food Products - 14.6%
a2 Milk Co. Ltd.*(a)		4,941,653		43,358,258
Archer-Daniels-Midland Co.(a)		4,326,072		194,240,633
Austevoll Seafood ASA		782,230		9,973,467
Bunge Ltd.(a)		1,081,518		59,559,196
Charoen Pokphand Foods PCL, NVDR		25,507,500		22,247,880
Charoen Pokphand Indonesia Tbk. PT		43,192,700		22,875,361
CJ CheilJedang Corp.		61,218		18,844,349
Costa Group Holdings Ltd.		1,863,748		7,515,003
GrainCorp Ltd., Class A		1,486,237		10,295,052
IOI Corp. Bhd.		19,045,600		21,621,592
Kuala Lumpur Kepong Bhd.		3,401,000		20,492,354
Maruha Nichiro Corp.		369,300		12,555,453
MOWI ASA		3,319,376		73,137,791
PPB Group Bhd.		4,081,200		18,134,238
Salmar ASA		391,115		20,476,253
Sime Darby Plantation Bhd.		23,807,000		30,049,363
Tyson Foods, Inc., Class A		2,353,492		145,728,225
Wilmar International Ltd.		26,527,800		65,695,589

				796,800,057

Metals & Mining - 30.5%
Agnico Eagle Mines Ltd.		697,205		30,339,816
Alcoa Corp.*(a)		744,819		22,106,228
Alumina Ltd.		8,839,199		15,661,597
Anglo American plc(a)		4,713,786		120,468,164
AngloGold Ashanti Ltd.		1,098,523		15,478,661


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Metals & Mining - (continued)
Barrick Gold Corp.		3,496,288		46,828,376
BHP Group Ltd.(a)		10,492,085		266,460,071
Boliden AB*		928,473		23,172,699
First Quantum Minerals Ltd.		2,462,324		28,517,435
Fortescue Metals Group Ltd.		5,414,392		22,305,656
Franco-Nevada Corp.		543,190		42,158,956
Freeport-McMoRan, Inc.(a)		5,070,891		59,025,171
Glencore plc*		44,505,486		181,166,698
Goldcorp, Inc.		2,724,201		30,492,465
Grupo Mexico SAB de CV, Series B(a)		13,604,000		32,736,965
Korea Zinc Co. Ltd.		37,411		14,811,078
MMC Norilsk Nickel PJSC		36,828		7,646,956
MMC Norilsk Nickel PJSC, ADR		1,356,027		28,205,362
Newcrest Mining Ltd.		2,448,720		43,655,087
Newmont Mining Corp.(a)		1,612,074		54,987,844
Norsk Hydro ASA		5,033,480		23,256,727
Rio Tinto plc		3,945,160		217,317,037
Royal Gold, Inc.(a)		210,862		18,423,013
South32 Ltd.(a)		19,079,610		49,108,997
Sumitomo Metal Mining Co. Ltd.		1,020,300		29,400,540
Teck Resources Ltd., Class B		1,557,658		37,954,052
Vale SA		12,102,300		151,162,471
Vedanta Ltd.		5,768,096		16,005,818
Wheaton Precious Metals Corp.		1,459,029		30,751,483

				1,659,605,423

Multi-Utilities - 1.1%
Suez		1,595,069		20,471,480
Veolia Environnement SA		1,948,773		41,189,322

				61,660,802

Oil, Gas & Consumable Fuels - 28.3%
Anadarko Petroleum Corp.		472,739		22,374,737
Apache Corp.(a)		418,323		13,729,361
BP plc		20,150,925		137,865,682
Cameco Corp.		1,166,543		14,140,992
Canadian Natural Resources Ltd.		1,146,137		30,780,669
Chevron Corp.		1,683,495		193,012,702
China Petroleum & Chemical Corp., Class H		22,788,000		19,080,271
CNOOC Ltd.		15,439,000		25,814,633
Concho Resources, Inc.*(a)		207,461		24,862,126
ConocoPhillips		1,132,533		76,661,159
Devon Energy Corp.		547,561		14,592,501
Eni SpA		2,547,349		43,277,280
EOG Resources, Inc.		533,957		52,968,534
Equinor ASA		1,118,929		25,610,436
Exxon Mobil Corp.		3,404,401		249,474,505
Gazprom PJSC		2,854,716		7,098,555
Gazprom PJSC, ADR		3,958,247		19,332,078
Gazprom PJSC, ADR, OTC		155,011		758,779
Hess Corp.(a)		255,075		13,774,050
LUKOIL PJSC		32,754		2,637,426
LUKOIL PJSC, ADR		345,720		27,726,744
Marathon Oil Corp.(a)		959,082		15,143,905
Occidental Petroleum Corp.		714,210		47,694,944


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Oil, Gas & Consumable Fuels - (continued)
PetroChina Co. Ltd., Class H		20,406,000		13,158,953
Petroleo Brasileiro SA (Preference)*		4,878,400		34,256,471
Pioneer Natural Resources Co.		163,248		23,233,455
Repsol SA		1,311,662		23,072,670
Royal Dutch Shell plc, Class A		4,499,523		139,804,356
Suncor Energy, Inc.		1,605,272		51,801,894
Tatneft PJSC		1,520,247		18,734,114
TOTAL SA		2,455,522		135,187,905
Woodside Petroleum Ltd.		921,671		23,064,289

				1,540,726,176

Paper & Forest Products - 3.5%
Canfor Corp.*		227,867		3,143,951
Duratex SA*		680,200		2,285,508
Interfor Corp.*(a)		197,258		2,690,087
Mondi plc		1,159,741		28,063,067
Oji Holdings Corp.		3,741,100		21,622,272
Stella-Jones, Inc.		180,253		5,819,483
Stora Enso OYJ, Class R		1,992,986		26,744,731
Suzano Papel e Celulose SA		1,490,700		18,824,037
Svenska Cellulosa AB SCA, Class B		2,020,194		17,742,918
UPM-Kymmene OYJ		1,856,946		53,822,812
West Fraser Timber Co. Ltd.		166,649		9,931,940

				190,690,806

Trading Companies & Distributors - 2.6%
Marubeni Corp.		14,440,600		112,334,944
Mitsui & Co. Ltd.		1,732,800		28,221,887

				140,556,831

Water Utilities - 3.7%
Aguas Andinas SA, Class A		9,189,502		5,453,093
American States Water Co.(a)		119,035		8,061,050
American Water Works Co., Inc.(a)		598,576		57,265,766
Aqua America, Inc.(a)		595,175		20,860,884
California Water Service Group(a)		153,045		7,578,788
China Water Affairs Group Ltd.		2,540,000		2,699,683
Cia de Saneamento Basico do Estado de Sao Paulo*		1,151,000		13,703,434
Cia de Saneamento de Minas Gerais-COPASA		218,200		3,570,578
Guangdong Investment Ltd.		9,449,576		18,015,937
Pennon Group plc		1,564,460		15,698,186
Severn Trent plc		867,255		22,799,499
United Utilities Group plc		2,370,497		25,906,589

				201,613,487

TOTAL COMMON STOCKS (Cost $4,893,053,702)				5,407,072,385


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(b) - 3.7%
CERTIFICATES OF DEPOSIT - 1.1%
Bank of Montreal, Chicago (ICE LIBOR USD 1 Month + 0.33%), 2.84%, 8/6/2019(c)		5,000,000		5,001,285


Investments	Principal Amount ($)		Value ($)
CERTIFICATES OF DEPOSIT - (continued)
Bank of Nova Scotia, Houston (SOFRRATE + 0.43%), 2.82%, 5/16/2019(c)		2,000,000		1,999,999
(ICE LIBOR USD 3 Month + 0.22%), 2.87%, 12/30/2019(c)		3,000,000		3,001,650
Canadian Imperial Bank of Commerce, New York (ICE LIBOR USD 1 Month + 0.25%), 2.76%, 10/15/2019(c)		5,000,000		4,999,995
China Construction Bank Corp., New York 2.86%, 4/18/2019		3,000,000		3,000,060
Mitsubishi UFJ Trust & Banking Corp., New York (ICE LIBOR USD 1 Month + 0.20%), 2.71%, 4/15/2019(c)		3,500,000		3,500,063
Mizuho Bank Ltd., New York (ICE LIBOR USD 3 Month + 0.10%), 2.74%, 4/3/2019(c)		5,000,000		4,999,704
MUFG Bank Ltd., New York Branch (ICE LIBOR USD 3 Month + 0.10%), 2.88%, 10/24/2019(c)		2,500,000		2,500,597
Oversea-Chinese Banking Corp. Ltd., New York (ICE LIBOR USD 1 Month + 0.19%), 2.70%, 4/17/2019(c)		4,000,000		3,999,480
Royal Bank of Canada, New York (ICE LIBOR USD 1 Month + 0.21%), 2.72%, 9/17/2019(c)		4,000,000		4,001,748
Sumitomo Mitsui Trust Bank, Ltd., New York 2.64%, 4/23/2019		2,000,000		2,000,320
Svenska Handelsbanken, New York (ICE LIBOR USD 3 Month + 0.02%), 2.78%, 7/19/2019(c)		5,000,000		5,000,245
The Sumitomo Bank Ltd., New York 2.76%, 3/7/2019		3,000,000		3,000,000
(ICE LIBOR USD 1 Month + 0.21%), 2.72%, 5/17/2019(c)		3,000,000		3,000,429
Toronto-Dominion Bank, New York 2.75%, 6/17/2019		2,000,000		2,000,370
(ICE LIBOR USD 1 Month + 0.21%), 2.72%, 9/17/2019(c)		4,000,000		3,996,708
Wells Fargo Bank (San Francisco) NA (ICE LIBOR USD 3 Month + 0.21%), 2.97%, 10/25/2019(c)		3,500,000		3,500,000


Investments	Principal Amount ($)		Value ($)
CERTIFICATES OF DEPOSIT - (continued)
Westpac Banking Corp., New York (US Federal Funds Effective Rate (continuous series) + 0.45%), 2.85%, 2/15/2019(c)		3,000,000		3,000,000

TOTAL CERTIFICATES OF DEPOSIT (Cost $62,505,737)				62,502,653

COMMERCIAL PAPER - 0.2%
Banco Santander SA, New York 2.76%, 2/7/2019		2,960,000		2,958,648
Macquarie Bank Ltd. 2.74%, 2/12/2019(d)		1,000,000		999,167
National Bank of Canada (ICE LIBOR USD 1 Month + 0.27%), 2.78%, 5/7/2019(c)(d)		5,000,000		4,999,995
Union Bank of Switzerland (ICE LIBOR USD 1 Month + 0.43%), 2.95%, 2/1/2019(c)(d)		4,000,000		4,000,000

TOTAL COMMERCIAL PAPER (Cost $12,957,815)				12,957,810

FUNDING AGREEMENTS - 0.1%
United of Omaha Life Insurance (ICE LIBOR USD 3 Month + 0.12%), 2.93%, 3/4/2019(c) (Cost $3,000,000)		3,000,000		3,000,000

REPURCHASE AGREEMENTS - 2.3%
Citadel Clearing LLC, 3.00%, dated 1/31/2019, due 5/3/2019, repurchase price $5,038,333, collateralized by various Common Stocks; total market value $5,555,820		5,000,000		5,000,000
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $23,649,175, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $24,165,032		23,647,500		23,647,500
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $70,004,725, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $71,463,452		70,000,000		70,000,000
ML Pierce Fenner & Smith, Inc., 2.94%, dated 1/31/2019, due 5/3/2019, repurchase price $8,060,107, collateralized by various Common Stocks; total market value $8,928,371		8,000,000		8,000,000


Investments	Principal Amount ($)		Value ($)
REPURCHASE AGREEMENTS - (continued)
Societe Generale, 2.50%, dated 1/31/2019, due 2/1/2019, repurchase price $18,001,250, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 4.25%, maturing 9/30/2019 - 11/15/2048; Common Stocks; total market value $20,061,692		18,000,000		18,000,000

TOTAL REPURCHASE AGREEMENTS (Cost $124,647,500)				124,647,500

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $203,111,052)				203,107,963

Total Investments - 103.0% (Cost $5,096,164,754)				5,610,180,348
Liabilities in excess of other assets - (3.0%)				(164,650,763	)

Net Assets - 100.0%				5,445,529,585

*	Non-income producing security.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $374,034,304, collateralized in the form of cash with a value of $203,098,750 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $31,158,138 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 12, 2019 – November 15, 2047 and $148,833,452 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 8.50%, and maturity dates ranging from April 25, 2019 – November 2, 2086; a total value of $383,090,340.

(b)	The security was purchased with cash collateral held from securities on loan at January 31, 2019. The total value of securities purchased was $203,107,963.

(c)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of January 31, 2019.

(d)	Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration normally to qualified institutional buyers.

Percentages shown are based on Net Assets.

Abbreviations


ADR		American Depositary Receipt
ICE		Intercontinental Exchange
LIBOR		London Interbank Offered Rate
NVDR		Non-Voting Depositary Receipt
OYJ		Public Limited Company
PJSC		Public Joint Stock Company

FlexShares^® Morningstar Global Upstream Natural Resources Index Fund had the following open futures contracts as of January 31, 2019:

FlexShares^® Morningstar Global Upstream Natural Resources Index Fund had the following outstanding contracts as of January 31, 2019:

FlexShares^® Morningstar Global Upstream Natural Resources Index Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 99.1%
Air Freight & Logistics - 2.5%
bpost SA(a)		45,500		417,411
CTT-Correios de Portugal SA(a)		58,800		212,261
Deutsche Post AG (Registered)		552,650		16,335,401
Oesterreichische Post AG		15,400		580,660
PostNL NV(a)		214,900		558,026
Royal Mail plc		570,150		2,010,760
Singapore Post Ltd.		875,000		640,966

				20,755,485

Commercial Services & Supplies - 3.5%
Bingo Industries Ltd.(a)(b)		218,400		332,825
China Everbright International Ltd.(a)		1,750,000		1,757,427
Clean Harbors, Inc.*		9,450		559,534
Cleanaway Co. Ltd.		39,000		215,175
Cleanaway Waste Management Ltd.		1,158,850		1,525,181
Covanta Holding Corp.(a)		18,200		293,020
Daiseki Co. Ltd.		35,000		824,910
Insun ENT Co. Ltd.*		20,944		127,435
Republic Services, Inc.		37,100		2,845,941
Shanghai Youngsun Investment Co. Ltd., Class B*^(c)		57,800		168,892
Stericycle, Inc.*(a)		12,250		539,980
Waste Connections, Inc.		148,400		12,390,208
Waste Management, Inc.		72,100		6,897,807

				28,478,335

Diversified Financial Services - 0.1%
Metro Pacific Investments Corp.		7,801,700		727,620

Diversified Telecommunication Services - 14.9%
AT&T, Inc.		1,206,100		36,255,366
BCE, Inc.		161,700		7,034,128
BT Group plc		1,580,950		4,833,131
Cellnex Telecom SA(a)(b)		29,750		839,420
CenturyLink, Inc.(a)		154,350		2,364,642
Chunghwa Telecom Co. Ltd.		818,000		2,849,014
Deutsche Telekom AG (Registered)		578,200		9,414,435
Infrastrutture Wireless Italiane SpA(b)		43,400		346,105
Nippon Telegraph & Telephone Corp.		210,000		9,013,232
Telefonica SA		839,650		7,221,106
Telstra Corp. Ltd.		2,136,750		4,845,415
Verizon Communications, Inc.		687,750		37,867,515

				122,883,509

Electric Utilities - 12.1%
American Electric Power Co., Inc.		82,950		6,563,004
Duke Energy Corp.		117,600		10,322,928
Edison International		54,250		3,090,623
Enel SpA		3,383,100		20,442,286
Exelon Corp.		162,400		7,756,224
Iberdrola SA		2,510,527		20,741,070


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Electric Utilities - (continued)
Iberdrola SA*(c)		56,724		468,633
NextEra Energy, Inc.(a)		78,750		14,094,675
PPL Corp.		113,750		3,562,650
Southern Co. (The)		166,950		8,113,770
Xcel Energy, Inc.		86,100		4,508,196

				99,664,059

Equity Real Estate Investment Trusts (REITs) - 4.3%
American Tower Corp.		73,850		12,764,234
CoreCivic, Inc.		20,300		403,361
Crown Castle International Corp.(a)		69,300		8,112,258
CyrusOne, Inc.(a)		17,500		948,500
Digital Realty Trust, Inc.(a)		33,600		3,640,224
Equinix, Inc.		12,950		5,102,300
GEO Group, Inc. (The)		16,800		378,840
Keppel DC REIT		175,000		187,409
SBA Communications Corp.*		19,600		3,577,588

				35,114,714

Gas Utilities - 0.7%
APA Group		424,550		2,841,767
Beijing Enterprises Holdings Ltd.		204,500		1,158,452
Infraestructura Energetica Nova SAB de CV(a)		245,000		966,828
Petronas Gas Bhd.		245,000		1,081,445

				6,048,492

Health Care Providers & Services - 3.2%
Acadia Healthcare Co., Inc.*(a)		15,400		421,344
Bangkok Dusit Medical Services PCL, NVDR		6,090,000		4,600,272
Bumrungrad Hospital PCL, NVDR		280,000		1,666,960
Encompass Health Corp.		17,150		1,146,306
HCA Healthcare, Inc.		46,900		6,539,267
Healthscope Ltd.		896,350		1,542,434
IHH Healthcare Bhd.		1,890,000		2,583,984
Life Healthcare Group Holdings Ltd.		654,850		1,338,322
Netcare Ltd.		650,300		1,212,881
Ramsay Health Care Ltd.		78,050		3,227,944
Spire Healthcare Group plc(b)		84,000		137,570
Tenet Healthcare Corp.*		17,850		392,522
Universal Health Services, Inc., Class B		14,350		1,901,805

				26,711,611

IT Services - 0.0%(d)
NEXTDC Ltd.*(a)		65,100		325,154

Media - 5.0%
Charter Communications, Inc., Class A*(a)		26,600		8,805,930
Comcast Corp., Class A		754,250		27,582,922
DISH Network Corp., Class A*(a)		38,850		1,191,530
Liberty Global plc, Class C*		86,100		2,028,516
Sirius XM Holdings, Inc.(a)		231,000		1,346,730

				40,955,628

Multi-Utilities - 7.9%
Consolidated Edison, Inc.		52,150		4,049,447
Dominion Energy, Inc.		124,600		8,751,904


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Multi-Utilities - (continued)
Engie SA		807,800		12,962,838
National Grid plc		1,478,750		16,051,969
Public Service Enterprise Group, Inc.		85,400		4,658,570
Sempra Energy(a)		44,800		5,240,704
Suez		218,750		2,807,487
Veolia Environnement SA		318,500		6,731,825
WEC Energy Group, Inc.(a)		53,550		3,910,757

				65,165,501

Oil, Gas & Consumable Fuels - 10.1%
Enagas SA		99,750		2,910,670
Enbridge, Inc.		747,600		27,329,838
Inter Pipeline Ltd.		164,150		2,639,799
Keyera Corp.		86,800		1,845,318
Kinder Morgan, Inc.		321,300		5,815,530
Koninklijke Vopak NV		27,300		1,391,160
ONEOK, Inc.(a)		69,650		4,472,227
Pembina Pipeline Corp.		220,500		7,860,969
Plains GP Holdings LP, Class A*(a)		29,050		663,502
Polskie Gornictwo Naftowe i Gazownictwo SA		751,100		1,543,197
Snam SpA		982,450		4,700,892
TransCanada Corp.		397,600		16,917,603
Williams Cos., Inc. (The)		204,750		5,513,917

				83,604,622

Road & Rail - 19.3%
Aurizon Holdings Ltd.		1,108,100		3,555,073
Canadian National Railway Co.		353,500		29,514,410
Canadian Pacific Railway Ltd.		80,150		16,435,846
Central Japan Railway Co.		114,900		24,800,156
CSX Corp.		144,200		9,473,940
East Japan Railway Co.		210,000		19,450,519
Hankyu Hanshin Holdings, Inc.		140,000		4,991,271
Kansas City Southern(a)		16,800		1,776,600
Keikyu Corp.(a)		140,000		2,381,145
Keisei Electric Railway Co. Ltd.		105,000		3,328,586
MTR Corp. Ltd.		875,000		4,884,219
Norfolk Southern Corp.		45,850		7,690,879
Tobu Railway Co. Ltd.		119,000		3,356,887
Union Pacific Corp.		123,550		19,653,098
West Japan Railway Co.		105,000		7,659,607

				158,952,236

Transportation Infrastructure - 7.9%
Aena SME SA(b)		41,300		7,146,364
Aeroports de Paris		15,750		3,021,695
Airports of Thailand PCL, NVDR		2,415,000		5,333,600
Atlantia SpA		262,150		6,208,595
Atlas Arteria Ltd.(a)		387,100		1,876,989
Auckland International Airport Ltd.		531,650		2,710,330
Bangkok Expressway & Metro PCL, NVDR		4,690,000		1,561,207
CCR SA		665,000		2,716,372
China Merchants Port Holdings Co. Ltd.(a)		700,000		1,382,747
COSCO SHIPPING Ports Ltd.(a)		881,677		916,880
Flughafen Zurich AG (Registered)		10,850		1,919,338
Getlink SE		261,450		3,834,010
Grupo Aeroportuario del Pacifico SAB de CV, Class B(a)		245,000		2,209,838


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Transportation Infrastructure - (continued)
International Container Terminal Services, Inc.		938,000		1,947,642
Novorossiysk Commercial Sea Port PJSC		2,258,200		238,653
Promotora y Operadora de Infraestructura SAB de CV		113,750		1,166,418
Qube Holdings Ltd.(a)		822,850		1,613,949
Sydney Airport		1,265,600		6,053,648
Transurban Group		1,495,200		13,268,039
Westshore Terminals Investment Corp.		21,000		349,387

				65,475,701

Water Utilities - 2.8%
Aguas Andinas SA, Class A		1,581,650		938,558
American Water Works Co., Inc.		30,450		2,913,152
Aqua America, Inc.(a)		29,400		1,030,470
Beijing Enterprises Water Group Ltd.*		2,800,000		1,616,476
Cia de Saneamento Basico do Estado de Sao Paulo*		210,000		2,500,192
Cia de Saneamento do Parana (Preference)		210,000		778,248
Eastern Water Resources Development and Management PCL, NVDR		346,200		119,675
Guangdong Investment Ltd.		1,588,000		3,027,576
Pennon Group plc		226,450		2,272,256
Severn Trent plc		136,850		3,597,686
United Utilities Group plc		386,750		4,226,697
WHA Utilities and Power PCL, NVDR		210,000		40,666

				23,061,652

Wireless Telecommunication Services - 4.8%
China Mobile Ltd.		999,500		10,483,241
KDDI Corp.		315,000		7,881,513
SoftBank Group Corp.		155,400		12,174,404
Vodafone Group plc		4,795,350		8,741,686

				39,280,844

TOTAL COMMON STOCKS (Cost $746,419,970)				817,205,163


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(e) - 4.4%
COMMERCIAL PAPER - 0.1%
Union Bank of Switzerland (ICE LIBOR USD 1 Month + 0.43%), 2.95%, 2/1/2019(f)(g) (Cost $1,000,000)		1,000,000		1,000,000


Investments	Principal Amount ($)		Value ($)
REPURCHASE AGREEMENTS - 4.3%
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $23,255,078, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $23,762,338		23,253,431		23,253,431
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $10,000,675, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $10,209,065		10,000,000		10,000,000
ML Pierce Fenner & Smith, Inc., 2.94%, dated 1/31/2019, due 5/3/2019, repurchase price $2,015,027, collateralized by various Common Stocks; total market value $2,232,093		2,000,000		2,000,000

TOTAL REPURCHASE AGREEMENTS (Cost $35,253,431)				35,253,431

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $36,253,431)				36,253,431

Total Investments — 103.5% (Cost $782,673,401)				853,458,594
Liabilities in excess of other assets — (3.5%)				(28,677,500	)

Net Assets — 100.0%				824,781,094

*	Non-income producing security.

^	Security subject to restrictions on resale.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $44,707,533, collateralized in the form of cash with a value of $36,253,431 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $2,319,998 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 12, 2019 – November 15, 2047 and $5,977,879 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 8.50%, and maturity dates ranging from March 15, 2019 – November 2, 2086; a total value of $44,551,308.

(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 fair valued as of January 31, 2019 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at January 31, 2019 amounted to $637,525, which represents approximately 0.08% of net assets of the Fund.

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

(e)	The security was purchased with cash collateral held from securities on loan at January 31, 2019. The total value of securities purchased was $36,253,431.

(f)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of January 31, 2019.

(g)	Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration normally to qualified institutional buyers.

Percentages shown are based on Net Assets.

Abbreviations


ICE		Intercontinental Exchange
LIBOR		London Interbank Offered Rate
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.
USD		US Dollar

FlexShares^® STOXX^® Global Broad Infrastructure Index Fund had the following open futures contracts as of January 31, 2019:

FlexShares^® STOXX^® Global Broad Infrastructure Index Fund had the following outstanding contracts as of January 31, 2019:

FlexShares^® STOXX^® Global Broad Infrastructure Index Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 97.4%
Equity Real Estate Investment Trusts (REITs) - 75.9%
AEON REIT Investment Corp.		816		955,237
Agree Realty Corp.(a)		18,972		1,252,721
alstria office REIT-AG		83,640		1,261,082
American Homes 4 Rent, Class A		130,254		2,879,916
Apartment Investment & Management Co., Class A(a)		88,536		4,384,303
Apple Hospitality REIT, Inc.		122,706		2,013,605
Argosy Property Ltd.		119,748		99,253
AvalonBay Communities, Inc.		18,156		3,502,656
Big Yellow Group plc		85,476		1,077,732
Boardwalk REIT		7,038		215,057
British Land Co. plc (The)		317,016		2,391,185
Brixmor Property Group, Inc.		170,544		2,921,419
BWP Trust		325,074		862,781
Camden Property Trust		52,734		5,112,561
Canadian Apartment Properties REIT		41,106		1,464,830
Champion REIT		1,326,000		1,005,480
Charter Hall Group		157,998		948,131
Chesapeake Lodging Trust(a)		35,394		1,008,021
Cousins Properties, Inc.		235,926		2,087,945
Covivio		22,134		2,268,011
Derwent London plc		59,466		2,533,693
Dexus		577,830		4,836,808
DiamondRock Hospitality Co.(a)		111,384		1,131,661
Dream Global REIT(a)		111,792		1,104,045
Dream Office REIT		36,924		660,994
Duke Realty Corp.		202,470		5,920,223
EastGroup Properties, Inc.		20,604		2,131,690
EPR Properties(a)		41,922		3,062,821
Equity Commonwealth		69,870		2,260,993
Equity LifeStyle Properties, Inc.		48,042		5,086,687
Equity Residential		197,676		14,343,371
Four Corners Property Trust, Inc.(a)		36,924		1,042,734
Frasers Centrepoint Trust		510,000		868,553
Frontier Real Estate Investment Corp.		259		1,059,037
Fukuoka REIT Corp.		510		796,655
Gecina SA		26,010		3,826,151
Getty Realty Corp.		28,254		905,823
Goodman Group		94,452		803,020
Goodman Property Trust		627,504		694,203
Granite REIT		19,584		888,311
Green REIT plc		479,604		796,866
Grivalia Properties REIC AE		38,250		370,870
Growthpoint Properties Australia Ltd.(a)		304,709		848,722
H&R REIT		77,214		1,304,636
Hansteen Holdings plc		388,110		470,462
Hersha Hospitality Trust(a)		37,230		689,872
Host Hotels & Resorts, Inc.		420,750		7,598,745


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Equity Real Estate Investment Trusts (REITs) - (continued)
iInmobiliaria Colonial Socimi SA		157,896		1,617,917
Investors Real Estate Trust		12,835		755,596
Japan Excellent, Inc.		714		1,020,844
Japan Rental Housing Investments, Inc.		1,122		882,507
Killam Apartment REIT		67,626		862,511
Kimco Realty Corp.		238,170		4,051,272
Liberty Property Trust		83,538		3,937,981
Life Storage, Inc.		26,724		2,626,168
Link REIT		1,206,500		13,223,266
LondonMetric Property plc(a)		416,773		1,029,054
LTC Properties, Inc.(a)		21,930		1,040,359
Mapletree North Asia Commercial Trust(b)		1,295,400		1,233,118
Medical Properties Trust, Inc.		206,040		3,749,928
Merlin Properties Socimi SA		198,288		2,664,324
MGM Growth Properties LLC, Class A(a)		36,210		1,122,510
Mori Trust Sogo Reit, Inc.(a)		612		948,676
National Health Investors, Inc.(a)		23,970		1,995,742
National Retail Properties, Inc.(a)		89,352		4,709,744
Nippon Accommodations Fund, Inc.		252		1,340,697
Nippon Building Fund, Inc.		531		3,434,935
Park Hotels & Resorts, Inc.		114,648		3,447,465
Parkway Life REIT		346,800		740,205
Pebblebrook Hotel Trust		37,958		1,216,554
Piedmont Office Realty Trust, Inc., Class A		74,562		1,443,520
Precinct Properties New Zealand Ltd.		846,498		877,761
Premier Investment Corp.		816		996,475
Prologis, Inc.		233,172		16,126,176
PS Business Parks, Inc.(a)		11,424		1,658,651
Public Storage		2,040		433,541
Rayonier, Inc.		72,726		2,213,779
Retail Properties of America, Inc., Class A		122,604		1,549,715
RioCan REIT		85,374		1,620,630
RPT Realty(a)		61,914		810,454
Sabra Health Care REIT, Inc.(a)		102,408		2,103,460
Scentre Group		3,007,572		8,706,095
Segro plc		572,424		4,871,879
Senior Housing Properties Trust		136,782		1,883,488
Shaftesbury plc(a)		93,534		1,085,207
Simon Property Group, Inc.(a)		45,186		8,229,274
SL Green Realty Corp.(a)		48,756		4,506,517
SmartCentres REIT(a)		39,678		1,006,074
Societe Fonciere Lyonnaise SA		1,734		123,360
Spirit Realty Capital, Inc.		48,042		1,908,228
Summit Hotel Properties, Inc.		60,894		680,186
Sunlight REIT		306,000		212,925
Sunstone Hotel Investors, Inc.(a)		128,010		1,830,543
Tritax Big Box REIT plc(a)		821,610		1,509,859
UNITE Group plc (The)		152,286		1,823,956


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Equity Real Estate Investment Trusts (REITs) - (continued)
Urstadt Biddle Properties, Inc., Class A		37,434		801,836
Vastned Retail NV		15,912		621,693
VICI Properties, Inc.		158,406		3,410,481
Weingarten Realty Investors		70,074		2,010,423
Weyerhaeuser Co.		70,788		1,857,477

				238,314,608

Household Durables - 0.5%
Iida Group Holdings Co. Ltd.(a)		82,100		1,494,442

Real Estate Management & Development - 21.0%
ADO Properties SA(b)		17,952		1,078,359
Aeon Mall Co. Ltd.		56,300		934,281
City Developments Ltd.		224,400		1,533,660
CK Asset Holdings Ltd.		757,000		6,343,144
CLS Holdings plc		50,184		161,736
Daejan Holdings plc		2,040		156,181
Daibiru Corp.		71,400		711,179
Entra ASA(b)		70,482		1,020,811
Fabege AB		148,308		2,161,201
First Capital Realty, Inc.		94,044		1,469,415
Goldcrest Co. Ltd.		40,800		619,329
Heiwa Real Estate Co. Ltd.		44,400		818,807
Helical plc		24,786		109,552
Henderson Land Development Co. Ltd.		744,530		4,217,615
HKR International Ltd.(a)		244,800		119,488
Hongkong Land Holdings Ltd.		652,800		4,680,576
Hufvudstaden AB, Class A		61,608		1,022,799
Kenedix, Inc.(a)		153,000		802,747
Kennedy-Wilson Holdings, Inc.(a)		72,420		1,447,676
Kungsleden AB		127,398		965,984
LendLease Group		326,706		2,913,402
Leopalace21 Corp.		137,900		652,564
Nomura Real Estate Holdings, Inc.		69,100		1,341,618
Olav Thon Eiendomsselskap ASA		7,650		130,414
PSP Swiss Property AG (Registered)		23,154		2,385,182
Realogy Holdings Corp.(a)		69,054		1,225,708
St Joe Co. (The)*(a)		40,290		626,912
St Modwen Properties plc		168,708		910,344
Sumitomo Realty & Development Co. Ltd.		202,000		7,708,408
Swire Pacific Ltd., Class A		279,000		3,296,074
Swire Pacific Ltd., Class B		510,000		909,937
Swire Properties Ltd.		673,200		2,616,718
TAG Immobilien AG		71,808		1,816,010
Tokyo Tatemono Co. Ltd.		86,700		1,053,178
Vonovia SE		65,586		3,296,994
Wharf Real Estate Investment Co. Ltd.		345,000		2,352,263
Wihlborgs Fastigheter AB		81,396		1,059,459
Wing Tai Holdings Ltd.		479,400		730,874
Yanlord Land Group Ltd.		510,000		481,687

				65,882,286

TOTAL COMMON STOCKS (Cost $276,032,920)				305,691,336


Investments	Number of Rights		Value ($)
RIGHTS - 0.0%(c)
Equity Real Estate Investment Trusts (REITs) - 0.0%(c)
Tritax Big Box REIT plc, expiring 2/8/2019, price 1.30 GBP*(d) (Cost $–)		105,065		13,406


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(e) - 5.9%
REPURCHASE AGREEMENTS - 5.9%
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $13,395,721, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $13,687,920		13,394,772		13,394,772
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $5,000,337, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $5,104,532		5,000,000		5,000,000

				18,394,772

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $18,394,772)				18,394,772

Total Investments — 103.3% (Cost $294,427,692)				324,099,514
Liabilities in excess of other assets — (3.3%)				(10,378,435	)

Net Assets — 100.0%				313,721,079

*	Non-income producing security.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $28,782,336, collateralized in the form of cash with a value of $18,394,772 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $7,842,301 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 12, 2019 – February 15, 2048 and $3,215,801 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 6.50%, and maturity dates ranging from March 15, 2019 – November 2, 2086; a total value of $29,452,874.

FlexShares^® Global Quality Real Estate Index Fund had the following open futures contracts as of January 31, 2019:

FlexShares^® Global Quality Real Estate Index Fund had the following outstanding contracts as of January 31, 2019:

FlexShares^® Global Quality Real Estate Index Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of January 31, 2019:


Investments	Shares		Value ($)
EXCHANGE TRADED FUNDS - 100.0%
FlexShares^® Global Quality Real Estate Index Fund(a)		86,184		5,316,691
FlexShares^® Global Upstream Natural Resources Index Fund(a)		39,121		1,256,175
FlexShares^® STOXX ^® Global Broad Infrastructure Index Fund(a)		141,227		6,671,564

TOTAL EXCHANGE TRADED FUNDS (Cost $13,158,463)				13,244,430

Total Investments — 100.0% (Cost $13,158,463)				13,244,430
Other Assets Less Liabilities — 0.0%(b)				3,363

Net Assets — 100.0%				13,247,793

(a)	Investment in affiliated Fund. Northern Trust Investments, Inc. is the Investment Adviser to both the Fund and the Underlying Funds.

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

Percentages shown are based on Net Assets.

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 January 31, 2019, was as follows:


Investments	Shares		Value ($)
COMMON STOCKS - 99.0%
Aerospace & Defense - 3.1%
Boeing Co. (The)		79,695		30,731,986
Lockheed Martin Corp.		77,280		22,387,243

				53,119,229

Airlines - 0.3%
Copa Holdings SA, Class A		61,180		5,802,923

Automobiles - 0.3%
Thor Industries, Inc.(a)		82,110		5,347,003

Banks - 3.2%
Bank of America Corp.		354,200		10,084,074
Citigroup, Inc.		62,790		4,047,443
JPMorgan Chase & Co.		185,150		19,163,025
Wells Fargo & Co.		435,505		21,300,550

				54,595,092

Beverages - 0.6%
Coca-Cola Co. (The)		119,140		5,734,208
PepsiCo, Inc.		33,005		3,718,674

				9,452,882

Biotechnology - 2.3%
AbbVie, Inc.		499,100		40,072,739

Capital Markets - 4.2%
Ameriprise Financial, Inc.		64,400		8,153,040
Eaton Vance Corp.(a)		135,240		5,209,445
Evercore, Inc., Class A(a)		148,925		13,321,341
Franklin Resources, Inc.(a)		106,260		3,146,359
Invesco Ltd.(a)		19,320		352,010
Janus Henderson Group plc(a)		404,915		8,839,295
Lazard Ltd., Class A		108,675		4,324,178
LPL Financial Holdings, Inc.(a)		188,370		13,255,597
T. Rowe Price Group, Inc.		163,415		15,272,766

				71,874,031

Chemicals - 2.2%
Chemours Co. (The)		285,775		10,216,457
Huntsman Corp.		498,295		10,947,541
LyondellBasell Industries NV, Class A		112,700		9,801,519
Trinseo SA		152,145		7,462,712

				38,428,229

Communications Equipment - 3.0%
Cisco Systems, Inc.		1,106,875		52,344,119

Consumer Finance - 1.3%
Navient Corp.		335,685		3,826,809
Santander Consumer USA Holdings, Inc.(a)		156,975		2,991,944
Synchrony Financial		500,710		15,041,328

				21,860,081


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Diversified Consumer Services - 0.4%
H&R Block, Inc.(a)		298,655		7,045,271

Diversified Telecommunication Services - 2.5%
AT&T, Inc.		808,220		24,295,093
Verizon Communications, Inc.		346,150		19,059,019

				43,354,112

Electric Utilities - 2.1%
Edison International		185,955		10,593,856
Exelon Corp.		268,870		12,841,231
Portland General Electric Co.		165,830		8,012,906
PPL Corp.		170,660		5,345,071

				36,793,064

Electrical Equipment - 0.2%
Rockwell Automation, Inc.		22,540		3,820,981

Electronic Equipment, Instruments & Components - 0.6%
CDW Corp.		122,360		10,188,917

Energy Equipment & Services - 0.1%
RPC, Inc.(a)		189,175		2,041,198

Entertainment - 1.0%
Activision Blizzard, Inc.		200,445		9,469,022
Viacom, Inc., Class B		43,470		1,278,887
Walt Disney Co. (The)		61,985		6,912,567

				17,660,476

Equity Real Estate Investment Trusts (REITs) - 6.7%
Apple Hospitality REIT, Inc.		152,145		2,496,699
Brixmor Property Group, Inc.		402,500		6,894,825
Gaming and Leisure Properties, Inc.		265,650		9,961,875
Host Hotels & Resorts, Inc.		730,940		13,200,776
Kimco Realty Corp.(a)		662,515		11,269,380
Lamar Advertising Co., Class A(a)		133,630		9,948,753
Medical Properties Trust, Inc.		463,680		8,438,976
Park Hotels & Resorts, Inc.		460,460		13,846,032
Public Storage		805		171,079
Retail Properties of America, Inc., Class A		577,185		7,295,618
Senior Housing Properties Trust		201,250		2,771,213
Simon Property Group, Inc.		54,740		9,969,249
Spirit Realty Capital, Inc.		239,890		9,528,431
Uniti Group, Inc.		70,035		1,394,397
Weingarten Realty Investors		251,965		7,228,876

				114,416,179

Food & Staples Retailing - 2.8%
Walgreens Boots Alliance, Inc.(a)		18,515		1,337,894
Walmart, Inc.		486,220		46,594,462

				47,932,356

Gas Utilities - 0.5%
National Fuel Gas Co.(a)		155,365		8,902,415


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Health Care Equipment & Supplies - 0.5%
ResMed, Inc.		84,525		8,044,244

Health Care Providers & Services - 1.5%
Cardinal Health, Inc.		58,765		2,936,487
McKesson Corp.		92,575		11,872,744
UnitedHealth Group, Inc.		41,860		11,310,572

				26,119,803

Hotels, Restaurants & Leisure - 0.7%
Las Vegas Sands Corp.		66,815		3,899,323
McDonald’s Corp.		2,415		431,754
Wyndham Destinations, Inc.		187,565		7,903,989

				12,235,066

Household Products - 1.4%
Clorox Co. (The)(a)		36,225		5,375,066
Kimberly-Clark Corp.(a)		118,335		13,180,152
Procter & Gamble Co. (The)		55,545		5,358,426

				23,913,644

Industrial Conglomerates - 2.1%
3M Co.		183,540		36,763,062

Insurance - 2.9%
Aflac, Inc.		305,900		14,591,430
Allstate Corp. (The)		107,870		9,478,537
Principal Financial Group, Inc.(a)		189,980		9,512,299
Prudential Financial, Inc.		64,400		5,933,816
Travelers Cos., Inc. (The)(a)		82,110		10,308,089

				49,824,171

IT Services - 5.0%
Accenture plc, Class A		194,005		29,789,468
Broadridge Financial Solutions, Inc.		80,500		8,116,815
International Business Machines Corp.		300,265		40,361,621
Mastercard, Inc., Class A		11,270		2,379,435
Visa, Inc., Class A(a)		42,665		5,760,202

				86,407,541

Machinery - 2.8%
Caterpillar, Inc.(a)		178,710		23,797,024
Cummins, Inc.		75,670		11,131,814
Illinois Tool Works, Inc.(a)		90,160		12,379,869

				47,308,707

Media - 1.5%
CBS Corp. (Non-Voting), Class B		33,810		1,672,243
Comcast Corp., Class A		165,830		6,064,403
Interpublic Group of Cos., Inc. (The)		272,895		6,208,361
Omnicom Group, Inc.(a)		156,975		12,225,213

				26,170,220

Metals & Mining - 1.0%
Nucor Corp.		146,510		8,972,272
Steel Dynamics, Inc.		202,860		7,422,648

				16,394,920

Mortgage Real Estate Investment Trusts (REITs) - 1.2%
AGNC Investment Corp.(a)		201,250		3,604,387
Annaly Capital Management, Inc.(a)		393,645		4,109,654


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Mortgage Real Estate Investment Trusts (REITs) - (continued)
Chimera Investment Corp.(a)		526,470		10,018,724
New Residential Investment Corp.		218,960		3,717,941

				21,450,706

Multiline Retail - 1.7%
Kohl’s Corp.(a)		207,690		14,266,226
Macy’s, Inc.(a)		326,025		8,574,457
Nordstrom, Inc.(a)		138,460		6,425,929

				29,266,612

Multi-Utilities - 2.2%
Black Hills Corp.		139,265		9,454,701
CenterPoint Energy, Inc.		332,465		10,279,818
MDU Resources Group, Inc.(a)		50,715		1,303,883
NorthWestern Corp.		253,575		16,205,978

				37,244,380

Oil, Gas & Consumable Fuels - 8.0%
Chevron Corp.		213,325		24,457,711
CVR Energy, Inc.		212,520		8,532,678
Exxon Mobil Corp.		631,120		46,248,474
HollyFrontier Corp.(a)		216,545		12,200,145
Occidental Petroleum Corp.		40,250		2,687,895
PBF Energy, Inc., Class A(a)		343,735		12,587,576
Phillips 66		140,875		13,440,884
Plains GP Holdings LP, Class A*(a)		146,510		3,346,288
Valero Energy Corp.		152,950		13,432,069

				136,933,720

Pharmaceuticals - 6.8%
Allergan plc		5,635		811,327
Johnson & Johnson		410,550		54,635,994
Merck & Co., Inc.		389,620		28,999,417
Pfizer, Inc.		753,480		31,985,226

				116,431,964

Professional Services - 0.8%
ManpowerGroup, Inc.		128,800		10,179,064
Nielsen Holdings plc		109,480		2,811,446

				12,990,510

Semiconductors & Semiconductor Equipment - 3.4%
Intel Corp.		223,790		10,544,985
KLA-Tencor Corp.		111,895		11,924,650
Lam Research Corp.(a)		16,905		2,866,750
Texas Instruments, Inc.		335,685		33,796,766

				59,133,151

Software - 3.7%
Intuit, Inc.(a)		59,570		12,856,398
Microsoft Corp.		466,900		48,758,367
Oracle Corp.(a)		49,105		2,466,544

				64,081,309

Specialty Retail - 4.9%
Best Buy Co., Inc.		209,300		12,398,932
Foot Locker, Inc.		177,905		9,943,111
Gap, Inc. (The)(a)		314,755		8,007,367
Home Depot, Inc. (The)		221,375		40,628,954
L Brands, Inc.(a)		242,305		6,745,771
Williams-Sonoma, Inc.(a)		130,410		7,098,216

				84,822,351

Technology Hardware, Storage & Peripherals - 4.1%
Apple, Inc.		279,335		46,492,517


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Technology Hardware, Storage & Peripherals - (continued)
HP, Inc.		646,415		14,240,523
Seagate Technology plc(a)		231,035		10,230,230

				70,963,270

Tobacco - 3.3%
Altria Group, Inc.		605,360		29,874,516
Philip Morris International, Inc.		361,445		27,730,060

				57,604,576

Trading Companies & Distributors - 1.3%
Fastenal Co.		142,485		8,614,643
WW Grainger, Inc.		45,080		13,316,181

				21,930,824

Transportation Infrastructure - 0.2%
Macquarie Infrastructure Corp.		66,815		2,884,404

Wireless Telecommunication Services - 0.6%
Telephone & Data Systems, Inc.		276,920		10,030,042

TOTAL COMMON STOCKS (Cost $1,490,169,169)				1,704,000,494


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(b) - 9.3%
CERTIFICATES OF DEPOSIT - 3.6%
Bank of Montreal, Chicago (ICE LIBOR USD 1 Month + 0.33%), 2.84%, 8/6/2019(c)		5,000,000		5,001,285
Bank of Nova Scotia, Houston (SOFRRATE + 0.43%), 2.82%, 5/16/2019(c)		2,000,000		1,999,999
(ICE LIBOR USD 3 Month + 0.22%), 2.87%, 12/30/2019(c)		3,000,000		3,001,650
Canadian Imperial Bank of Commerce, New York (ICE LIBOR USD 1 Month + 0.25%), 2.76%, 10/15/2019(c)		5,000,000		4,999,995
China Construction Bank Corp., New York 2.86%, 4/18/2019		3,000,000		3,000,060
Cooperatieve Rabobank UA, London (ICE LIBOR USD 3 Month + 0.17%), 2.95%, 4/18/2019(c)		2,000,000		2,000,000
Mitsubishi UFJ Trust & Banking Corp., New York (ICE LIBOR USD 1 Month + 0.20%), 2.71%, 4/15/2019(c)		1,500,000		1,500,027
Mizuho Bank Ltd., New York (ICE LIBOR USD 3 Month + 0.10%), 2.74%, 4/3/2019(c)		5,000,000		4,999,704
MUFG Bank Ltd., New York Branch (ICE LIBOR USD 3 Month + 0.10%), 2.88%, 10/24/2019(c)		2,500,000		2,500,598


Investments	Principal Amount ($)		Value ($)
CERTIFICATES OF DEPOSIT - (continued)
Oversea-Chinese Banking Corp. Ltd., New York (ICE LIBOR USD 1 Month + 0.19%), 2.70%, 4/17/2019(c)		4,000,000		3,999,480
Royal Bank of Canada, New York (ICE LIBOR USD 1 Month + 0.21%), 2.72%, 9/17/2019(c)		3,000,000		3,001,311
Sumitomo Mitsui Trust Bank, Ltd., New York 2.64%, 4/23/2019		2,000,000		2,000,320
Svenska Handelsbanken, New York (ICE LIBOR USD 3 Month + 0.02%), 2.78%, 7/19/2019(c)		5,000,000		5,000,245
The Sumitomo Bank Ltd., New York 2.76%, 3/7/2019		3,000,000		3,000,000
(ICE LIBOR USD 1 Month + 0.21%), 2.72%, 5/17/2019(c)		4,000,000		4,000,572
Toronto-Dominion Bank, New York 2.75%, 6/17/2019		2,000,000		2,000,370
(ICE LIBOR USD 1 Month + 0.21%), 2.72%, 9/17/2019(c)		3,000,000		2,997,531
Wells Fargo Bank (San Francisco) NA (ICE LIBOR USD 3 Month + 0.21%), 2.97%, 10/25/2019(c)		3,000,000		3,000,000
Westpac Banking Corp., New York (US Federal Funds Effective Rate (continuous series) + 0.45%), 2.85%, 2/15/2019(c)		3,000,000		3,000,000

TOTAL CERTIFICATES OF DEPOSIT (Cost $61,005,737)				61,003,147

COMMERCIAL PAPER - 0.7%
Banco Santander SA, New York 2.76%, 2/7/2019		2,540,000		2,538,840
Macquarie Bank Ltd. 2.74%, 2/12/2019(d)		1,000,000		999,167
National Bank of Canada (ICE LIBOR USD 1 Month + 0.27%), 2.78%, 5/7/2019(c)(d)		5,000,000		4,999,995
Union Bank of Switzerland (ICE LIBOR USD 1 Month + 0.43%), 2.95%, 2/1/2019(c)(d)		4,000,000		4,000,000

TOTAL COMMERCIAL PAPER (Cost $12,538,007)				12,538,002

REPURCHASE AGREEMENTS - 5.0%
Citadel Clearing LLC, 3.00%, dated 1/31/2019, due 5/3/2019, repurchase price $5,038,333, collateralized by various Common Stocks; total market value $5,555,820		5,000,000		5,000,000


Investments	Principal Amount ($)		Value ($)
REPURCHASE AGREEMENTS - (continued)
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $38,499,415, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $39,339,197		38,496,688		38,496,688
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $17,001,147, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $17,355,410		17,000,000		17,000,000
ML Pierce Fenner & Smith, Inc., 2.94%, dated 1/31/2019, due 5/3/2019, repurchase price $8,060,107, collateralized by various Common Stocks; total market value $8,928,371		8,000,000		8,000,000
Societe Generale, 2.50%, dated 1/31/2019, due 2/1/2019, repurchase price $18,001,250, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 4.25%, maturing 9/30/2019 - 11/15/2048; Common Stocks; total market value $20,061,692		18,000,000		18,000,000

TOTAL REPURCHASE AGREEMENTS (Cost $86,496,688)				86,496,688

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $160,040,432)				160,037,837

Total Investments — 108.3% (Cost $1,650,209,601)				1,864,038,331
Liabilities in excess of other assets — (8.3%)				(142,951,722	)

Net Assets — 100.0%				1,721,086,609

*	Non-income producing security.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $176,169,323, collateralized in the form of cash with a value of $160,030,878 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $15,960,923 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 12, 2019 – February 15, 2048 and $2,811,934 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 6.25%, and maturity dates ranging from May 25, 2019 – October 22, 2071; a total value of $178,803,735.

FlexShares^® Quality Dividend Index Fund had the following open futures contracts as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 98.8%
Aerospace & Defense - 3.1%
Boeing Co. (The)		14,490		5,587,634
Lockheed Martin Corp.		17,066		4,943,849

				10,531,483

Air Freight & Logistics - 0.7%
CH Robinson Worldwide, Inc.		14,007		1,215,387
Expeditors International of Washington, Inc.		15,295		1,059,944

				2,275,331

Auto Components - 0.5%
Delphi Technologies plc		99,337		1,779,126

Banks - 3.3%
Bank of America Corp.		66,332		1,888,472
Bank of Hawaii Corp.(a)		15,778		1,220,113
Citigroup, Inc.		5,957		383,988
Investors Bancorp, Inc.		13,202		160,272
JPMorgan Chase & Co.		30,590		3,166,065
Wells Fargo & Co.		88,067		4,307,357

				11,126,267

Beverages - 0.9%
Coca-Cola Co. (The)		12,075		581,170
PepsiCo, Inc.		21,252		2,394,463

				2,975,633

Biotechnology - 2.4%
AbbVie, Inc.		103,684		8,324,788

Capital Markets - 2.2%
Intercontinental Exchange, Inc.		7,406		568,485
Janus Henderson Group plc		72,772		1,588,613
MarketAxess Holdings, Inc.(a)		8,050		1,728,898
MSCI, Inc.		11,109		1,891,529
T. Rowe Price Group, Inc.		12,397		1,158,624
Virtu Financial, Inc., Class A		18,676		477,172

				7,413,321

Chemicals - 0.6%
LyondellBasell Industries NV, Class A		24,311		2,114,328

Communications Equipment - 3.8%
Cisco Systems, Inc.		233,611		11,047,464
Motorola Solutions, Inc.		14,812		1,731,671

				12,779,135

Consumer Finance - 1.1%
Navient Corp.		483		5,506
Santander Consumer USA Holdings, Inc.(a)		71,967		1,371,691
Synchrony Financial		81,305		2,442,402

				3,819,599


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Diversified Consumer Services - 0.5%
H&R Block, Inc.(a)		76,797		1,811,641

Diversified Telecommunication Services - 2.3%
AT&T, Inc.		105,777		3,179,657
Verizon Communications, Inc.		83,398		4,591,894

				7,771,551

Electric Utilities - 4.0%
Duke Energy Corp.		16,905		1,483,921
Edison International		8,694		495,297
Exelon Corp.		66,010		3,152,638
NextEra Energy, Inc.		16,583		2,968,025
Portland General Electric Co.		38,962		1,882,644
PPL Corp.		70,035		2,193,496
Southern Co. (The)		29,463		1,431,902

				13,607,923

Electronic Equipment, Instruments & Components - 1.1%
CDW Corp.		23,184		1,930,532
Jabil, Inc.		68,103		1,814,945

				3,745,477

Energy Equipment & Services - 0.4%
RPC, Inc.(a)		115,115		1,242,091

Entertainment - 0.5%
Activision Blizzard, Inc.		14,772		697,829
Cinemark Holdings, Inc.		6,923		283,289
Walt Disney Co. (The)		7,245		807,963

				1,789,081

Equity Real Estate Investment Trusts (REITs) - 6.8%
Apple Hospitality REIT, Inc.		17,388		285,337
Brixmor Property Group, Inc.		117,530		2,013,289
CubeSmart(a)		6,762		209,284
EPR Properties(a)		16,905		1,235,079
Gaming and Leisure Properties, Inc.		7,084		265,650
HCP, Inc.(a)		49,266		1,553,850
Healthcare Trust of America, Inc., Class A		61,502		1,747,887
Kimco Realty Corp.		167,762		2,853,632
Medical Properties Trust, Inc.		133,630		2,432,066
Omega Healthcare Investors, Inc.(a)		43,309		1,740,589
Retail Properties of America, Inc., Class A		142,807		1,805,080
Senior Housing Properties Trust		149,408		2,057,348
Simon Property Group, Inc.		3,220		586,426
Spirit Realty Capital, Inc.		46,207		1,835,342
Uniti Group, Inc.		16,261		323,756
Ventas, Inc.		7,728		498,379
Weingarten Realty Investors		60,858		1,746,016

				23,189,010

Food & Staples Retailing - 2.7%
Walmart, Inc.		94,829		9,087,463


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food Products - 0.1%
Flowers Foods, Inc.(a)		17,710		348,179

Health Care Providers & Services - 2.4%
Anthem, Inc.		4,814		1,458,642
Cardinal Health, Inc.		26,565		1,327,453
UnitedHealth Group, Inc.		19,320		5,220,264

				8,006,359

Hotels, Restaurants & Leisure - 2.3%
Cracker Barrel Old Country Store, Inc.(a)		147		24,590
Darden Restaurants, Inc.		3,381		354,768
McDonald’s Corp.		8,533		1,525,530
Starbucks Corp.		59,892		4,081,041
Wyndham Destinations, Inc.		40,411		1,702,920

				7,688,849

Household Products - 2.1%
Clorox Co. (The)(a)		8,050		1,194,459
Colgate-Palmolive Co.		31,395		2,030,628
Kimberly-Clark Corp.(a)		23,184		2,582,234
Procter & Gamble Co. (The)		13,846		1,335,724

				7,143,045

Industrial Conglomerates - 0.0%(b)
3M Co.		644		128,993

Insurance - 4.9%
Aflac, Inc.		48,944		2,334,629
Allstate Corp. (The)		16,261		1,428,854
Everest Re Group Ltd.		7,728		1,692,818
Fidelity National Financial, Inc.		54,096		1,956,111
First American Financial Corp.		36,064		1,806,085
Marsh & McLennan Cos., Inc.		28,175		2,484,753
Mercury General Corp.(a)		5,635		291,330
Principal Financial Group, Inc.(a)		644		32,245
Progressive Corp. (The)		36,547		2,459,248
Reinsurance Group of America, Inc.		14,329		2,069,824

				16,555,897

IT Services - 3.7%
Broadridge Financial Solutions, Inc.		15,778		1,590,896
International Business Machines Corp.		59,409		7,985,758
Mastercard, Inc., Class A		483		101,976
Paychex, Inc.		16,261		1,151,279
Visa, Inc., Class A(a)		6,762		912,937
Western Union Co. (The)(a)		40,089		731,624

				12,474,470

Machinery - 0.8%
Cummins, Inc.		9,821		1,444,767
Toro Co. (The)(a)		21,735		1,293,233

				2,738,000

Media - 2.2%
CBS Corp. (Non-Voting), Class B		34,615		1,712,058
Comcast Corp., Class A		10,787		394,481
Interpublic Group of Cos., Inc. (The)(a)		72,128		1,640,912


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Media - (continued)
Omnicom Group, Inc.(a)		23,345		1,818,109
Tribune Media Co., Class A		41,216		1,892,226

				7,457,786

Mortgage Real Estate Investment Trusts (REITs) - 0.7%
AGNC Investment Corp.(a)		12,236		219,147
Annaly Capital Management, Inc.		38,318		400,040
Chimera Investment Corp.(a)		78,246		1,489,021
New Residential Investment Corp.(a)		22,379		379,995

				2,488,203

Multiline Retail - 1.9%
Kohl’s Corp.		40,894		2,809,009
Macy’s, Inc.		76,153		2,002,824
Nordstrom, Inc.(a)		34,615		1,606,482

				6,418,315

Multi-Utilities - 2.7%
Black Hills Corp.		18,837		1,278,844
CenterPoint Energy, Inc.		53,291		1,647,758
CMS Energy Corp.(a)		17,549		915,005
Consolidated Edison, Inc.		5,635		437,558
DTE Energy Co.		11,431		1,346,000
NorthWestern Corp.		46,690		2,983,958
WEC Energy Group, Inc.		5,957		435,039

				9,044,162

Oil, Gas & Consumable Fuels - 7.3%
Chevron Corp.		37,352		4,282,407
CVR Energy, Inc.		5,313		213,317
Exxon Mobil Corp.		146,832		10,759,849
HollyFrontier Corp.		37,996		2,140,695
Occidental Petroleum Corp.		19,803		1,322,444
Phillips 66		13,524		1,290,325
Plains GP Holdings LP, Class A*(a)		83,237		1,901,133
Valero Energy Corp.		33,810		2,969,194

				24,879,364

Pharmaceuticals - 6.9%
Eli Lilly & Co.		147		17,619
Johnson & Johnson		91,931		12,234,178
Merck & Co., Inc.		66,815		4,973,040
Pfizer, Inc.		149,891		6,362,873

				23,587,710

Professional Services - 0.2%
Nielsen Holdings plc		16,583		425,851
Thomson Reuters Corp.		7,522		393,702

				819,553

Semiconductors & Semiconductor Equipment - 4.6%
Broadcom, Inc.		9,338		2,504,919
Intel Corp.		32,361		1,524,850
KLA-Tencor Corp.		14,490		1,544,199
Lam Research Corp.		10,626		1,801,957
Skyworks Solutions, Inc.		25,277		1,846,232
Texas Instruments, Inc.		62,629		6,305,488

				15,527,645

Software - 3.1%
j2 Global, Inc.(a)		14,973		1,125,371
Microsoft Corp.		91,287		9,533,101


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Software - (continued)
Oracle Corp.		483		24,261

				10,682,733

Specialty Retail - 4.7%
Aaron’s, Inc.(a)		10,948		548,057
Dick’s Sporting Goods, Inc.(a)		46,207		1,631,569
Foot Locker, Inc.(a)		48,783		2,726,482
Gap, Inc. (The)(a)		72,289		1,839,032
Home Depot, Inc. (The)		33,488		6,146,053
L Brands, Inc.(a)		51,037		1,420,870
Williams-Sonoma, Inc.(a)		30,429		1,656,250

				15,968,313

Technology Hardware, Storage & Peripherals - 3.9%
Apple, Inc.		47,334		7,878,271
HP, Inc.		60,536		1,333,608
Seagate Technology plc(a)		48,783		2,160,111
Western Digital Corp.		41,055		1,847,065

				13,219,055

Textiles, Apparel & Luxury Goods - 1.7%
Hanesbrands, Inc.		24,955		374,075
NIKE, Inc., Class B		43,309		3,546,141
Tapestry, Inc.		46,207		1,788,673

				5,708,889

Thrifts & Mortgage Finance - 0.1%
New York Community Bancorp, Inc.(a)		38,640		448,997

Tobacco - 3.3%
Altria Group, Inc.		96,278		4,751,319
Philip Morris International, Inc.		85,169		6,534,166

				11,285,485

Trading Companies & Distributors - 1.7%
Fastenal Co.		27,370		1,654,790
MSC Industrial Direct Co., Inc., Class A		19,642		1,639,911
WW Grainger, Inc.		8,855		2,615,678

				5,910,379

Transportation Infrastructure - 0.0%(b)
Macquarie Infrastructure Corp.		644		27,801

Wireless Telecommunication Services - 0.6%
Telephone & Data Systems, Inc.		59,892		2,169,288

TOTAL COMMON STOCKS (Cost $298,090,618)				336,110,718


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(c) - 6.7%
CERTIFICATES OF DEPOSIT - 0.2%
Westpac Banking Corp., New York (US Federal Funds Effective Rate (continuous series) + 0.45%), 2.85%, 2/15/2019(d) (Cost $500,000)		500,000		500,000


Investments	Principal Amount ($)		Value ($)
REPURCHASE AGREEMENTS - 6.5%
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $1,365,291, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $1,395,071		1,365,194		1,365,194
Citigroup Global Markets, Ltd., 2.43%, dated 1/31/2019, due 2/1/2019, repurchase price $10,000,675, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 3.63%, maturing 2/28/2019 - 8/15/2048; total market value $10,209,065		10,000,000		10,000,000
ML Pierce Fenner & Smith, Inc., 2.94%, dated 1/31/2019, due 5/3/2019, repurchase price $1,007,513, collateralized by various Common Stocks; total market value $1,116,046		1,000,000		1,000,000
Societe Generale, 2.50%, dated 1/31/2019, due 2/1/2019, repurchase price $10,000,694, collateralized by various U.S. Treasury Securities, ranging from 0.13% - 4.25%, maturing 9/30/2019 - 11/15/2048; Common Stocks; total market value $11,145,384		10,000,000		10,000,000

TOTAL REPURCHASE AGREEMENTS (Cost $22,365,194)				22,365,194

TOTAL SECURITIES LENDING REINVESTMENTS (Cost $22,865,194)				22,865,194

Total Investments - 105.5% (Cost $320,955,812)				358,975,912
Liabilities in excess of other assets - (5.5%)				(18,815,880	)

Net Assets - 100.0%				340,160,032

*	Non-income producing security.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $28,352,972, collateralized in the form of cash with a value of $22,865,194 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $3,815,570 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 12, 2019 – February 15, 2048 and $2,303,439 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 6.25%, and maturity dates ranging from May 25, 2019 – October 22, 2071; a total value of $28,984,203.

FlexShares^® Quality Dividend Defensive Index Fund had the following open futures contracts as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 98.8%
Aerospace & Defense - 4.0%
Boeing Co. (The)		5,616		2,165,642

Airlines - 0.6%
Copa Holdings SA, Class A		3,692		350,186

Auto Components - 0.1%
Dana, Inc.		2,600		45,812

Banks - 7.4%
Bank of America Corp.		10,608		302,010
Bank of NT Butterfield & Son Ltd. (The)		6,942		243,317
Citigroup, Inc.		4,940		318,432
JPMorgan Chase & Co.		20,254		2,096,289
Regions Financial Corp.		22,542		341,962
Wells Fargo & Co.		13,962		682,882

				3,984,892

Beverages - 0.5%
Coca-Cola Co. (The)		3,432		165,182
PepsiCo, Inc.		754		84,953

				250,135

Biotechnology - 4.6%
AbbVie, Inc.		14,768		1,185,723
Amgen, Inc.		6,838		1,279,458

				2,465,181

Capital Markets - 6.1%
Ameriprise Financial, Inc.		2,366		299,536
BlackRock, Inc.		910		377,723
Eaton Vance Corp.		10,036		386,587
Evercore, Inc., Class A		5,044		451,186
Franklin Resources, Inc.(a)		13,078		387,239
Janus Henderson Group plc		17,160		374,603
Lazard Ltd., Class A		4,004		159,319
Moelis & Co., Class A		3,042		133,087
Morgan Stanley		8,164		345,337
T. Rowe Price Group, Inc.		4,316		403,373

				3,317,990

Chemicals - 2.7%
Chemours Co. (The)		12,194		435,936
Huntsman Corp.		19,136		420,418
LyondellBasell Industries NV, Class A		5,070		440,938
Trinseo SA		2,808		137,732

				1,435,024

Communications Equipment - 3.4%
Cisco Systems, Inc.		39,312		1,859,064

Consumer Finance - 0.5%
Navient Corp.		10,790		123,006


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Consumer Finance - (continued)
Santander Consumer USA Holdings, Inc.(a)		6,864		130,828

				253,834

Diversified Telecommunication Services - 2.6%
AT&T, Inc.		18,954		569,757
Verizon Communications, Inc.		14,976		824,579

				1,394,336

Electrical Equipment - 1.3%
Eaton Corp. plc		6,344		483,730
Emerson Electric Co.		3,640		238,311

				722,041

Electronic Equipment, Instruments & Components - 0.6%
CDW Corp.		4,160		346,403

Entertainment - 1.6%
Activision Blizzard, Inc.		7,436		351,277
Viacom, Inc., Class B		9,542		280,726
Walt Disney Co. (The)		1,430		159,473
World Wrestling Entertainment, Inc., Class A		572		47,098

				838,574

Equity Real Estate Investment Trusts (REITs) - 6.5%
Apple Hospitality REIT, Inc.		9,022		148,051
Brixmor Property Group, Inc.		21,528		368,775
Gaming and Leisure Properties, Inc.		2,756		103,350
Host Hotels & Resorts, Inc.		8,450		152,607
Kimco Realty Corp.		11,336		192,825
Lamar Advertising Co., Class A(a)		4,186		311,648
Medical Properties Trust, Inc.		17,602		320,356
Outfront Media, Inc.		4,056		84,162
Park Hotels & Resorts, Inc.		11,492		345,565
Ryman Hospitality Properties, Inc.(a)		4,420		355,147
Senior Housing Properties Trust		9,984		137,480
Simon Property Group, Inc.(a)		3,250		591,890
Spirit Realty Capital, Inc.		3,396		134,889
Uniti Group, Inc.		3,718		74,025
Weyerhaeuser Co.		6,526		171,242

				3,492,012

Food & Staples Retailing - 1.3%
Walgreens Boots Alliance, Inc.		8,554		618,112
Walmart, Inc.		624		59,798

				677,910

Health Care Equipment & Supplies - 0.5%
ResMed, Inc.		2,652		252,391

Health Care Providers & Services - 1.4%
AmerisourceBergen Corp.		520		43,352
Cardinal Health, Inc.		6,084		304,018
Humana, Inc.		494		152,641
UnitedHealth Group, Inc.		936		252,907

				752,918

Hotels, Restaurants & Leisure - 0.7%
Las Vegas Sands Corp.		2,938		171,462


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Hotels, Restaurants & Leisure - (continued)
McDonald’s Corp.		442		79,021
Wyndham Destinations, Inc.		3,354		141,337

				391,820

Household Products - 1.1%
Kimberly-Clark Corp.		2,366		263,525
Procter & Gamble Co. (The)		3,432		331,085

				594,610

Independent Power and Renewable Electricity Producers - 0.8%
AES Corp.		26,104		427,845

Industrial Conglomerates - 1.9%
3M Co.		5,252		1,051,976

Insurance - 0.8%
Principal Financial Group, Inc.		4,238		212,197
Prudential Financial, Inc.		2,496		229,981

				442,178

IT Services - 3.6%
Broadridge Financial Solutions, Inc.		2,366		238,564
International Business Machines Corp.		9,386		1,261,666
Mastercard, Inc., Class A		338		71,362
Paychex, Inc.		2,652		187,762
Visa, Inc., Class A(a)		1,534		207,105

				1,966,459

Machinery - 2.6%
Caterpillar, Inc.		5,096		678,584
Cummins, Inc.		3,094		455,158
Illinois Tool Works, Inc.		2,106		289,175

				1,422,917

Media - 1.9%
Comcast Corp., Class A		2,392		87,475
Interpublic Group of Cos., Inc. (The)		11,570		263,218
Nexstar Media Group, Inc., Class A(a)		3,718		310,342
Omnicom Group, Inc.		3,822		297,657
Tribune Media Co., Class A		1,664		76,394

				1,035,086

Metals & Mining - 0.6%
Freeport-McMoRan, Inc.		14,794		172,202
Nucor Corp.		2,704		165,593

				337,795

Mortgage Real Estate Investment Trusts (REITs) - 1.1%
AGNC Investment Corp.		8,736		156,462
Chimera Investment Corp.(a)		16,926		322,102
New Residential Investment Corp.(a)		6,942		117,875

				596,439

Multiline Retail - 1.0%
Kohl’s Corp.		5,148		353,616
Macy’s, Inc.		6,864		180,523

				534,139

Multi-Utilities - 0.4%
CenterPoint Energy, Inc.		7,098		219,470


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Oil, Gas & Consumable Fuels - 7.8%
Chevron Corp.		13,676		1,567,953
CVR Energy, Inc.		7,852		315,258
Exxon Mobil Corp.		10,608		777,354
Murphy Oil Corp.(a)		4,550		124,443
PBF Energy, Inc., Class A(a)		8,034		294,205
Phillips 66		5,070		483,729
Plains GP Holdings LP, Class A*(a)		12,116		276,729
Valero Energy Corp.		4,446		390,448

				4,230,119

Paper & Forest Products - 0.3%
Domtar Corp.		3,848		180,471

Pharmaceuticals - 4.8%
Allergan plc		2,600		374,348
Johnson & Johnson		4,030		536,312
Merck & Co., Inc.		10,426		776,007
Pfizer, Inc.		20,852		885,168

				2,571,835

Semiconductors & Semiconductor Equipment - 5.3%
Applied Materials, Inc.		6,682		261,133
Cypress Semiconductor Corp.(a)		10,920		151,460
Intel Corp.		3,198		150,690
KLA-Tencor Corp.		4,186		446,102
Lam Research Corp.		1,092		185,181
Maxim Integrated Products, Inc.		2,834		153,801
QUALCOMM, Inc.		7,930		392,694
Texas Instruments, Inc.		11,388		1,146,544

				2,887,605

Software - 3.5%
Intuit, Inc.		2,392		516,241
Microsoft Corp.		13,078		1,365,736
Oracle Corp.		650		32,649

				1,914,626

Specialty Retail - 5.3%
Best Buy Co., Inc.		5,278		312,669
Home Depot, Inc. (The)		9,932		1,822,820
L Brands, Inc.(a)		4,680		130,291
Lowe’s Cos., Inc.		6,474		622,540

				2,888,320

Technology Hardware, Storage & Peripherals - 5.4%
Apple, Inc.		12,948		2,155,065
HP, Inc.		19,656		433,022
Seagate Technology plc		7,098		314,299

				2,902,386

Tobacco - 3.4%
Altria Group, Inc.		16,874		832,732
Philip Morris International, Inc.		12,792		981,402

				1,814,134

Trading Companies & Distributors - 0.7%
Fastenal Co.		6,344		383,558


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Transportation Infrastructure - 0.1%
Macquarie Infrastructure Corp.		1,846		79,692

TOTAL COMMON STOCKS (Cost $48,910,774)				53,477,825


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(b) - 1.8%
REPURCHASE AGREEMENTS - 1.8%
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $998,100, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $1,019,871 (Cost $998,029)		998,029		998,029

Total Investments — 100.6% (Cost $49,908,803)				54,475,854
Liabilities in excess of other assets — (0.6%)				(350,512	)

Net Assets — 100.0%				54,125,342

*	Non-income producing security.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $3,105,931, collateralized in the form of cash with a value of $998,029 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $1,441,593 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 12, 2019 – February 15, 2048 and $775,349 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 6.25%, and maturity dates ranging from May 25, 2019 – October 22, 2071; a total value of $3,214,971.

(b)	The security was purchased with cash collateral held from securities on loan at January 31, 2019. The total value of securities purchased was $998,029.

Percentages shown are based on Net Assets.

FlexShares^® Quality Dividend Dynamic Index Fund had the following open futures contracts as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 98.5%
Airlines - 0.8%
Aeroflot PJSC		3,532,648		5,822,394

Auto Components - 0.8%
Bridgestone Corp.		159,500		6,137,885

Automobiles - 2.8%
Ford Otomotiv Sanayi A/S		517,099		5,989,313
Subaru Corp.		255,200		5,984,291
Tofas Turk Otomobil Fabrikasi A/S		1,693,252		6,889,601
Toyota Motor Corp.		31,900		1,956,561

				20,819,766

Banks - 10.1%
ABN AMRO Group NV, CVA(a)		215,963		5,382,362
Absa Group Ltd.		154,715		2,154,468
Agricultural Bank of China Ltd., Class H		4,121,000		1,937,947
Aozora Bank Ltd.		31,900		981,944
Australia & New Zealand Banking Group Ltd.		261,899		4,779,820
Bank of China Ltd., Class H		6,974,000		3,217,388
Bank Polska Kasa Opieki SA		48,169		1,434,570
Commonwealth Bank of Australia		42,427		2,162,711
Danske Bank A/S		183,744		3,402,719
HSBC Holdings plc		1,342,990		11,287,038
National Australia Bank Ltd.		248,501		4,323,301
National Bank of Canada		65,076		3,062,283
Resona Holdings, Inc.		861,300		4,352,007
Royal Bank of Canada		177,364		13,507,917
Skandinaviska Enskilda Banken AB, Class A		561,121		5,879,607
Swedbank AB, Class A		260,304		5,901,058
Toronto-Dominion Bank (The)		2,233		125,822
VTB Bank PJSC		384,836,732		221,985

				74,114,947

Capital Markets - 4.6%
Banca Generali SpA		163,009		3,853,120
China Huarong Asset Management Co. Ltd., Class H(a)		26,311,000		5,331,476
CI Financial Corp.		334,950		4,511,738
Coronation Fund Managers Ltd.(b)		1,693,571		5,268,320
IG Group Holdings plc		252,967		2,113,061
Macquarie Group Ltd.		73,370		6,231,416
Natixis SA		245,311		1,258,788
SBI Holdings, Inc.		223,300		4,756,128

				33,324,047

Chemicals - 0.5%
BASF SE		957		70,081
Mitsubishi Gas Chemical Co., Inc.		63,800		1,005,394


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Chemicals - (continued)
Sinopec Shanghai Petrochemical Co. Ltd., Class H		5,072,000		2,398,094

				3,473,569

Commercial Services & Supplies - 0.6%
Edenred		99,528		4,047,369

Diversified Financial Services - 0.7%
AMP Ltd.(b)		2,950,431		4,861,953

Diversified Telecommunication Services - 3.9%
O2 Czech Republic A/S		545,490		5,917,998
Proximus SADP		144,826		3,890,288
Spark New Zealand Ltd.		1,962,488		5,519,591
Telenor ASA		296,351		5,607,924
Telia Co. AB		398,750		1,735,641
Telstra Corp. Ltd.		2,476,716		5,616,341

				28,287,783

Electric Utilities - 2.1%
EDP - Energias de Portugal SA		457,446		1,674,419
Endesa SA		238,612		5,974,214
Federal Grid Co. Unified Energy System PJSC		2,263,248,762		5,743,946
Red Electrica Corp. SA		71,137		1,640,686

				15,033,265

Electrical Equipment - 0.9%
Mitsubishi Electric Corp.		255,200		3,202,018
Signify NV(a)		124,729		3,101,416

				6,303,434

Electronic Equipment, Instruments & Components - 0.7%
AU Optronics Corp.		3,344,000		1,295,301
Innolux Corp.		3,648,000		1,240,877
Kingboard Laminates Holdings Ltd.		1,585,000		1,632,126
Omron Corp.		31,900		1,304,374

				5,472,678

Equity Real Estate Investment Trusts (REITs) - 2.0%
Covivio		14,993		1,536,292
Growthpoint Properties Ltd.		898,942		1,759,271
H&R REIT		93,467		1,579,253
Hui Xian REIT		11,729,000		5,824,707
RioCan REIT		195,228		3,705,957

				14,405,480

Food & Staples Retailing - 0.7%
President Chain Store Corp.		513,000		5,385,235

Food Products - 1.7%
MOWI ASA		244,673		5,391,026
Nestle SA (Registered)		68,266		5,947,902
Uni-President Enterprises Corp.		608,000		1,422,951

				12,761,879

Gas Utilities - 0.2%
Naturgy Energy Group SA		59,653		1,666,729


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Hotels, Restaurants & Leisure - 0.9%
Sands China Ltd.		1,394,800		6,630,308

Household Durables - 1.2%
Panasonic Corp.		191,400		1,867,746
Persimmon plc		210,859		6,587,644

				8,455,390

Insurance - 8.3%
Admiral Group plc		69,861		1,903,221
Aegon NV		915,849		4,710,093
Allianz SE (Registered)		45,298		9,611,622
Assicurazioni Generali SpA		124,410		2,183,426
BB Seguridade Participacoes SA		665,700		5,676,030
Legal & General Group plc		1,860,408		6,348,228
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		30,305		6,763,440
Poste Italiane SpA(a)		738,804		6,369,923
Powszechny Zaklad Ubezpieczen SA		287,100		3,452,637
Sampo OYJ, Class A		45,617		2,092,159
Sompo Holdings, Inc.		63,800		2,395,358
Tokio Marine Holdings, Inc.		95,700		4,671,124
Zurich Insurance Group AG*		13,079		4,109,187

				60,286,448

Interactive Media & Services - 0.6%
Tencent Holdings Ltd.		95,100		4,193,432

IT Services - 1.2%
Cielo SA		2,187,300		7,169,310
Nomura Research Institute Ltd.		31,900		1,301,442

				8,470,752

Machinery - 2.0%
Atlas Copco AB, Class A*		15,312		398,571
Atlas Copco AB, Class B*		18,502		441,933
FANUC Corp.		31,900		5,381,641
Kone OYJ, Class B		46,893		2,280,895
Sinotruk Hong Kong Ltd.(b)		3,328,500		6,125,319

				14,628,359

Marine - 0.6%
Kuehne + Nagel International AG (Registered)		33,176		4,494,360

Media - 2.4%
Eutelsat Communications SA		258,709		5,491,829
ITV plc		1,006,764		1,712,382
ProSiebenSat.1 Media SE		278,806		5,000,286
Smiles Fidelidade SA*		412,100		5,056,789

				17,261,286

Metals & Mining - 6.0%
Alrosa PJSC		1,797,707		2,705,944
Assore Ltd.		53,911		1,396,405
BHP Group plc		125,686		2,794,469
Eregli Demir ve Celik Fabrikalari TAS		3,336,102		5,472,190
Evraz plc		750,607		4,919,157
Kumba Iron Ore Ltd.(b)		246,587		6,292,707


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Metals & Mining - (continued)
Magnitogorsk Iron & Steel Works PJSC		2,264,648		1,497,573
MMC Norilsk Nickel PJSC		10,144		2,106,297
Novolipetsk Steel PJSC		2,188,568		5,081,127
Rio Tinto plc		115,159		6,343,472
Severstal PJSC		354,089		5,399,578

				44,008,919

Multiline Retail - 0.3%
Wesfarmers Ltd.		106,865		2,509,823

Multi-Utilities - 1.6%
AGL Energy Ltd.		426,184		6,656,309
Centrica plc		1,109,801		1,991,287
Engie SA		176,088		2,825,699

				11,473,295

Oil, Gas & Consumable Fuels - 9.1%
BP plc		1,920,061		13,136,395
Bukit Asam Tbk. PT		11,324,500		3,493,190
China Petroleum & Chemical Corp., Class H		2,536,000		2,123,379
Coal India Ltd.		317,317		1,002,324
Enagas SA		15,312		446,799
Eni SpA		221,386		3,761,159
Formosa Petrochemical Corp.		788,000		2,757,352
Inter Pipeline Ltd.		304,326		4,894,057
Pilipinas Shell Petroleum Corp.		5,869,640		5,406,692
Royal Dutch Shell plc, Class A		57,739		1,794,004
Royal Dutch Shell plc, Class B		30,624		954,135
Snam SpA		411,510		1,969,020
TOTAL SA		199,375		10,976,521
TransCanada Corp.		151,844		6,460,856
Tupras Turkiye Petrol Rafinerileri A/S		226,490		6,082,442
Vermilion Energy, Inc.(b)		56,463		1,384,382

				66,642,707

Paper & Forest Products - 0.3%
UPM-Kymmene OYJ		83,259		2,413,228

Personal Products - 2.7%
L’Oreal SA		1,595		384,521
Pola Orbis Holdings, Inc.		191,400		5,707,002
Unilever NV, CVA		255,838		13,693,167

				19,784,690

Pharmaceuticals - 6.7%
AstraZeneca plc		123,453		8,983,760
GlaxoSmithKline plc		876,293		17,027,974
Livzon Pharmaceutical Group, Inc., Class H		126,800		407,224
Novartis AG (Registered)		37,323		3,254,147
Orion OYJ, Class B		156,948		5,552,174
Roche Holding AG		34,452		9,166,017
Sanofi		52,316		4,551,474

				48,942,770

Professional Services - 0.7%
Adecco Group AG (Registered)		97,933		4,908,989


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Real Estate Management & Development - 3.4%
Agile Group Holdings Ltd.		4,438,000		5,870,804
Daito Trust Construction Co. Ltd.		5,500		765,391
Land & Houses PCL, NVDR		17,385,500		5,954,224
SOHO China Ltd.*		13,155,500		5,314,710
Wharf Holdings Ltd. (The)		1,902,000		5,732,639
Yuzhou Properties Co. Ltd.		2,853,000		1,407,103

				25,044,871

Road & Rail - 0.8%
Aurizon Holdings Ltd.		1,798,841		5,771,149

Semiconductors & Semiconductor Equipment - 3.2%
Disco Corp.(b)		31,900		4,713,333
Novatek Microelectronics Corp.		1,216,000		6,253,861
Taiwan Semiconductor Manufacturing Co. Ltd.		435,222		3,130,839
Tokyo Electron Ltd.		47,000		6,752,228
Vanguard International Semiconductor Corp.		1,216,000		2,636,121

				23,486,382

Software - 0.8%
SAP SE		3,828		396,418
Trend Micro, Inc.		95,700		5,082,661

				5,479,079

Specialty Retail - 1.4%
CECONOMY AG		1,173,282		5,519,758
Hennes & Mauritz AB, Class B		323,466		5,026,867

				10,546,625

Technology Hardware, Storage & Peripherals - 2.2%
Asustek Computer, Inc.		196,000		1,505,656
Brother Industries Ltd.		127,600		2,147,967
Canon, Inc.		63,800		1,825,537
Chicony Electronics Co. Ltd.		608,000		1,327,956
Compal Electronics, Inc.		2,432,000		1,440,763
Inventec Corp.		1,824,000		1,404,150
Lite-On Technology Corp.		1,216,000		1,791,058
Pegatron Corp.		608,000		1,025,158
Samsung Electronics Co. Ltd.		80,201		3,326,541

				15,794,786

Textiles, Apparel & Luxury Goods - 1.3%
HUGO BOSS AG		68,904		4,952,563
Ruentex Industries Ltd.*		1,824,000		4,868,512

				9,821,075

Tobacco - 1.9%
British American Tobacco plc		13,079		462,292
Imperial Brands plc		199,056		6,611,667
Japan Tobacco, Inc.		255,200		6,448,590
KT&G Corp.		4,438		395,278

				13,917,827

Trading Companies & Distributors - 1.9%
ITOCHU Corp.		127,600		2,334,975
Marubeni Corp.		765,600		5,955,683
Mitsubishi Corp.		127,600		3,729,630
Sumitomo Corp.		127,600		1,971,510

				13,991,798

Transportation Infrastructure - 1.5%
Aena SME SA(a)		37,323		6,458,202


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Transportation Infrastructure - (continued)
Atlantia SpA		73,370		1,737,649
Sydney Airport		633,215		3,028,809

				11,224,660

Wireless Telecommunication Services - 2.4%
Freenet AG		70,499		1,503,012
Intouch Holdings PCL, NVDR		1,212,200		2,104,884
NTT DOCOMO, Inc.		287,100		6,873,464
Vodafone Group plc		3,988,138		7,270,178

				17,751,538

TOTAL COMMON STOCKS (Cost $735,879,462)				719,852,959

Total Investments — 98.5% (Cost $735,879,462)				719,852,959
Other Assets Less Liabilities — 1.5%				10,830,603

Net Assets — 100.0%				730,683,562

*	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)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $14,220,215, collateralized by $1,634,490 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 4.75%, and maturity dates ranging from February 15, 2019 – February 15, 2041 and $13,250,031 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 8.50%, and maturity dates ranging from April 25, 2019 – November 2, 2086; a total value of $14,884,521.

Percentages shown are based on Net Assets.


Abbreviations

CVA		Dutch Certification
NVDR		Non-Voting Depositary Receipt
OYJ		Public Limited Company
PJSC		Public Joint Stock Company

FlexShares^® International Quality Dividend Index Fund had the following open futures contracts as of January 31, 2019:

FlexShares^® International Quality Dividend Index Fund had the following outstanding contracts as of January 31, 2019:

FlexShares^® International Quality Dividend Index Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 98.2%
Air Freight & Logistics - 0.7%
Royal Mail plc		177,364		625,513

Airlines - 1.5%
Aeroflot PJSC		468,424		772,041
Japan Airlines Co. Ltd.		19,100		695,694

				1,467,735

Auto Components - 0.9%
Bridgestone Corp.		20,100		773,489
Nokian Renkaat OYJ		3,696		123,073

				896,562

Automobiles - 4.2%
Ford Otomotiv Sanayi A/S		70,092		811,842
Subaru Corp.		32,900		771,486
Tofas Turk Otomobil Fabrikasi A/S		216,612		881,363
Toyota Motor Corp.		26,400		1,619,223

				4,083,914

Banks - 10.5%
ABN AMRO Group NV, CVA(a)		29,216		728,139
Absa Group Ltd.		20,416		284,301
Aozora Bank Ltd.		5,700		175,457
Australia & New Zealand Banking Group Ltd.		68,244		1,245,496
Bank Polska Kasa Opieki SA		6,688		199,182
Commonwealth Bank of Australia		20,548		1,047,432
CTBC Financial Holding Co. Ltd.		204,000		137,454
Danske Bank A/S		36,432		674,677
DNB ASA		14,740		261,343
HSBC Holdings plc		169,840		1,427,405
Mizuho Financial Group, Inc.		88,000		145,063
National Australia Bank Ltd.		31,724		551,919
National Bank of Canada		11,088		521,768
Royal Bank of Canada		12,496		951,687
Sberbank of Russia PJSC		46,332		154,183
Skandinaviska Enskilda Banken AB, Class A		75,724		793,460
Swedbank AB, Class A		35,156		796,982
Toronto-Dominion Bank (The)		792		44,626

				10,140,574

Beverages - 0.0%(b)
Coca-Cola Amatil Ltd.		6,952		42,580

Capital Markets - 2.8%
China Huarong Asset Management Co. Ltd., Class H(a)		3,388,000		686,520
CI Financial Corp.		13,596		183,137
Coronation Fund Managers Ltd.		219,780		683,686
IG Group Holdings plc		88,440		738,749
Natixis SA		31,020		159,176
Singapore Exchange Ltd.		44,000		249,998

				2,701,266


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Chemicals - 0.6%
BASF SE		484		35,443
Formosa Chemicals & Fibre Corp.		155,000		537,327
Israel Chemicals Ltd.		5,324		30,846

				603,616

Commercial Services & Supplies - 0.1%
Edenred		836		33,996
Societe BIC SA		748		75,144

				109,140

Construction & Engineering - 0.0%(b)
Kajima Corp.		1,500		21,308

Diversified Financial Services - 0.6%
AMP Ltd.		377,740		622,470

Diversified Telecommunication Services - 4.2%
BCE, Inc.		5,368		233,514
HKT Trust & HKT Ltd.		150,000		220,985
Maroc Telecom		15,004		234,358
O2 Czech Republic A/S		69,344		752,310
Proximus SADP		6,864		184,379
Spark New Zealand Ltd.		259,160		728,900
Telenor ASA		38,896		736,039
Telia Co. AB		55,396		241,122
Telstra Corp. Ltd.		339,328		769,479

				4,101,086

Electric Utilities - 3.9%
EDP - Energias de Portugal SA		64,372		235,625
Emera, Inc.(c)		5,896		206,515
Endesa SA		32,032		801,997
Enel SpA		191,884		1,159,453
Federal Grid Co. Unified Energy System PJSC		282,359,572		716,606
Fortis, Inc.		6,028		215,086
Fortum OYJ		7,568		172,115
SSE plc		16,456		253,270

				3,760,667

Electrical Equipment - 1.0%
Signify NV(a)		2,244		55,798
Vestas Wind Systems A/S		11,000		909,496

				965,294

Electronic Equipment, Instruments & Components - 0.4%
AU Optronics Corp.		528,000		204,521
WPG Holdings Ltd.*		139,640		177,042

				381,563

Equity Real Estate Investment Trusts (REITs) - 2.3%
Growthpoint Properties Ltd.		129,184		252,819
H&R REIT		13,068		220,802
Hui Xian REIT		1,496,000		742,924
Nomura Real Estate Master Fund, Inc.		176		252,122
RioCan REIT		37,972		720,812
Stockland		12,012		33,107

				2,222,586


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food & Staples Retailing - 1.6%
Lawson, Inc.(c)		2,600		160,305
METRO AG		44,044		746,198
President Chain Store Corp.		65,000		682,340

				1,588,843

Food Products - 3.7%
MOWI ASA		32,296		711,597
Nestle SA (Registered)		20,724		1,805,647
Orkla ASA		36,652		295,444
Uni-President Enterprises Corp.		309,000		723,178

				3,535,866

Hotels, Restaurants & Leisure - 1.1%
Crown Resorts Ltd.		24,640		214,697
Sands China Ltd.		169,200		804,307

				1,019,004

Household Durables - 0.9%
Persimmon plc		26,840		838,534

Insurance - 6.7%
Admiral Group plc		9,504		258,917
Aegon NV		59,400		305,487
Ageas		9,328		434,344
AIA Group Ltd.		1,200		10,782
Allianz SE (Registered)		88		18,672
Assicurazioni Generali SpA		16,852		295,757
AXA SA		23,760		551,948
Direct Line Insurance Group plc		49,852		220,800
Legal & General Group plc		251,592		858,502
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Registered)		3,696		824,870
NN Group NV		2,948		124,889
Orange Life Insurance Ltd.(a)		2,024		54,481
Poste Italiane SpA(a)		96,008		827,775
Powszechny Zaklad Ubezpieczen SA		68,552		824,400
Sampo OYJ, Class A		6,380		292,610
Zurich Insurance Group AG*		1,804		566,784

				6,471,018

Interactive Media & Services - 0.7%
Kakaku.com, Inc.		2,800		48,986
Tencent Holdings Ltd.		14,600		643,787

				692,773

IT Services - 2.0%
Cielo SA		281,600		923,000
Larsen & Toubro Infotech Ltd.(a)		11,396		282,152
Otsuka Corp.		22,000		709,547

				1,914,699

Machinery - 2.2%
FANUC Corp.		4,600		776,036
Kone OYJ, Class B		15,224		740,501
Sinotruk Hong Kong Ltd.(c)		352,000		647,773

				2,164,310

Media - 2.4%
Eutelsat Communications SA		33,088		702,386
Lagardere SCA		6,952		182,116


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Media - (continued)
ProSiebenSat.1 Media SE		35,640		639,191
Smiles Fidelidade SA*		64,900		796,374

				2,320,067

Metals & Mining - 5.6%
Alrosa PJSC		474,892		714,817
Alumina Ltd.		101,200		179,310
Eregli Demir ve Celik Fabrikalari TAS		422,708		693,365
Evraz plc		102,168		669,565
Kumba Iron Ore Ltd.		32,824		837,643
Magnitogorsk Iron & Steel Works PJSC		91,300		60,375
Novolipetsk Steel PJSC		290,576		674,621
Rio Tinto plc		15,356		845,877
Severstal PJSC		15,422		235,173
Severstal PJSC, GDR(a)		31,834		485,787

				5,396,533

Multiline Retail - 0.5%
Golden Eagle Retail Group Ltd.		132,000		141,476
Wesfarmers Ltd.		14,652		344,116

				485,592

Multi-Utilities - 1.7%
AGL Energy Ltd.		34,364		536,710
Centrica plc		401,808		720,954
Engie SA		23,848		382,691

				1,640,355

Oil, Gas & Consumable Fuels - 9.2%
BP plc		253,528		1,734,551
Bukit Asam Tbk. PT		572,000		176,441
China Petroleum & Chemical Corp., Class H		114,000		95,452
Coal India Ltd.		189,156		597,496
Enagas SA		8,096		236,238
Eni SpA		30,272		514,295
Equinor ASA		16,148		369,601
Hindustan Petroleum Corp. Ltd.		39,864		130,881
Inter Pipeline Ltd.		40,392		649,569
Neste OYJ		9,328		857,772
Pilipinas Shell Petroleum Corp.		761,290		701,246
Royal Dutch Shell plc, Class A		8,492		263,854
Royal Dutch Shell plc, Class B		2,948		91,849
Snam SpA		54,252		259,589
TOTAL SA		24,068		1,325,055
Tupras Turkiye Petrol Rafinerileri A/S		30,668		823,596
Vermilion Energy, Inc.(c)		1,892		46,389

				8,873,874

Personal Products - 0.5%
L’Oreal SA		1,848		445,515
Unilever NV, CVA		1,056		56,520

				502,035

Pharmaceuticals - 6.4%
Astellas Pharma, Inc.		52,800		780,866
AstraZeneca plc		3,344		243,345
GlaxoSmithKline plc		116,072		2,255,491
H Lundbeck A/S		5,764		253,081


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Pharmaceuticals - (continued)
Novartis AG (Registered)		9,196		801,788
Orion OYJ, Class B		13,596		480,971
Roche Holding AG		4,400		1,170,628
Sanofi		1,936		168,431

				6,154,601

Professional Services - 0.9%
Recruit Holdings Co. Ltd.		30,800		824,267

Real Estate Management & Development - 3.0%
Agile Group Holdings Ltd.		468,000		619,093
Daito Trust Construction Co. Ltd.		4,900		681,894
Land & Houses PCL, NVDR		2,112,000		723,323
SOHO China Ltd.*		1,804,000		728,801
Wharf Holdings Ltd. (The)		63,000		189,882

				2,942,993

Road & Rail - 0.8%
Aurizon Holdings Ltd.		241,384		774,423

Semiconductors & Semiconductor Equipment - 1.9%
Novatek Microelectronics Corp.		149,000		766,304
Taiwan Semiconductor Manufacturing Co. Ltd.		52,000		374,070
Tokyo Electron Ltd.		5,100		732,689

				1,873,063

Software - 0.5%
SAP SE		264		27,339
Trend Micro, Inc.		8,800		467,371

				494,710

Specialty Retail - 1.0%
CECONOMY AG		59,620		280,485
Hennes & Mauritz AB, Class B		42,768		664,642

				945,127

Technology Hardware, Storage & Peripherals - 2.4%
Asustek Computer, Inc.		22,000		169,002
Canon, Inc.		28,200		806,899
Compal Electronics, Inc.		308,000		182,465
Inventec Corp.		264,000		203,232
Lite-On Technology Corp.		179,000		263,651
Pegatron Corp.		100,000		168,611
Quanta Computer, Inc.		29,000		52,768
Samsung Electronics Co. Ltd.		11,176		463,553

				2,310,181

Textiles, Apparel & Luxury Goods - 1.9%
HUGO BOSS AG		4,444		319,418
Pandora A/S		13,552		588,158
Ruentex Industries Ltd.*		264,000		704,653
Yue Yuen Industrial Holdings Ltd.		67,500		230,543

				1,842,772

Thrifts & Mortgage Finance - 0.4%
Indiabulls Housing Finance Ltd.		39,952		373,398

Tobacco - 2.2%
British American Tobacco Malaysia Bhd.		44,000		411,641
British American Tobacco plc		1,276		45,102
Imperial Brands plc		25,388		843,265


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Tobacco - (continued)
Japan Tobacco, Inc.		31,700		801,020

				2,101,028

Trading Companies & Distributors - 1.2%
ITOCHU Corp.		44,700		817,974
Marubeni Corp.		4,400		34,228
Sumitomo Corp.		17,600		271,932

				1,124,134

Transportation Infrastructure - 1.2%
Atlantia SpA		18,348		434,542
Sydney Airport		143,616		686,948

				1,121,490

Wireless Telecommunication Services - 1.9%
Freenet AG		10,164		216,693
NTT DOCOMO, Inc.		35,900		859,482
Turkcell Iletisim Hizmetleri A/S		48,708		136,547
Vodafone Group plc		337,920		616,011

				1,828,733

TOTAL COMMON STOCKS (Cost $95,463,894)				94,900,297


	Principal Amount ($)
SECURITIES LENDING REINVESTMENTS(d) - 0.1%
REPURCHASE AGREEMENTS - 0.1%
Citigroup Global Markets, Inc., 2.55%, dated 1/31/2019, due 2/1/2019, repurchase price $59,044, collateralized by various U.S. Treasury Securities, ranging from 0.63% - 3.13%, maturing 4/30/2020 - 5/15/2048; total market value $60,332 (Cost $59,040)		59,040		59,040

Total Investments — 98.3% (Cost $95,522,934)				94,959,337
Other Assets Less Liabilities — 1.7%				1,639,107

Net Assets — 100.0%				96,598,444

*	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.

(c)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $988,150, collateralized in the form of cash with a value of $59,040 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments; $213,376 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.75%, and maturity dates ranging from February 15, 2019 – August 15, 2045 and $775,413 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 8.50%, and maturity dates ranging from April 25, 2019 – March 22, 2068; a total value of $1,047,829.

(d)	The security was purchased with cash collateral held from securities on loan at January 31, 2019. The total value of securities purchased was $59,040.

Percentages shown are based on Net Assets.


Abbreviations

CVA		Dutch Certification
GDR		Global Depositary Receipt
NVDR		Non-Voting Depositary Receipt
OYJ		Public Limited Company
PJSC		Public Joint Stock Company
SCA		Limited partnership with share capital

FlexShares^® International Quality Dividend Defensive Index Fund had the following open futures contracts as of January 31, 2019:

FlexShares^® International Quality Dividend Defensive Index Fund had the following outstanding contracts as of January 31, 2019:

FlexShares^® International Quality Dividend Defensive Index Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of January 31, 2019:


Investments	Shares		Value ($)
COMMON STOCKS - 98.9%
Auto Components - 1.0%
Faurecia SA		7,236		316,840
Magna International, Inc.		2,250		119,139

				435,979

Automobiles - 1.8%
Honda Motor Co. Ltd.		3,600		107,474
Subaru Corp.		16,200		379,881
Toyota Motor Corp.		3,600		220,803
Yamaha Motor Co. Ltd.(a)		3,600		76,942

				785,100

Banks - 10.5%
Agricultural Bank of China Ltd., Class H		234,000		110,041
Australia & New Zealand Banking Group Ltd.		15,660		285,805
Bank of China Ltd., Class H		432,000		199,299
Bank of Communications Co. Ltd., Class H		90,000		76,274
Bank Polska Kasa Opieki SA		2,790		83,092
China Construction Bank Corp., Class H		252,000		225,129
China Merchants Bank Co. Ltd., Class H(a)		117,000		509,947
HSBC Holdings plc		91,080		765,473
Industrial & Commercial Bank of China Ltd., Class H		144,000		111,211
ING Groep NV		14,814		175,287
National Australia Bank Ltd.		14,238		247,706
Resona Holdings, Inc.		16,200		81,856
Royal Bank of Canada		9,270		705,997
Skandinaviska Enskilda Banken AB, Class A		44,604		467,375
Swedbank AB, Class A		20,052		454,576
Toronto-Dominion Bank (The)		180		10,142

				4,509,210

Building Products - 0.5%
Cie de Saint-Gobain		3,258		112,601
TOTO Ltd.		2,400		92,952

				205,553

Capital Markets - 3.6%
Banca Generali SpA		11,970		282,941
China Huarong Asset Management Co. Ltd., Class H(b)		396,000		80,243
CI Financial Corp.		3,006		40,490
Coronation Fund Managers Ltd.(a)		21,852		67,977
Hong Kong Exchanges & Clearing Ltd.		10,800		335,835
Macquarie Group Ltd.		5,472		464,745
Natixis SA		15,624		80,173
SBI Holdings, Inc.		9,000		191,693

				1,544,097


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Chemicals - 2.4%
BASF SE		5,310		388,852
Nutrien Ltd.		2,520		130,615
Showa Denko KK(a)		10,800		361,224
Sinopec Shanghai Petrochemical Co. Ltd., Class H		360,000		170,212

				1,050,903

Construction & Engineering - 1.1%
ACS Actividades de Construccion y Servicios SA		11,484		475,701

Construction Materials - 0.4%
Buzzi Unicem SpA(a)		8,208		157,003

Diversified Financial Services - 2.4%
EXOR NV		7,146		457,542
Mitsubishi UFJ Lease & Finance Co. Ltd.		81,000		413,820
Wendel SA		1,170		142,978

				1,014,340

Diversified Telecommunication Services - 4.1%
Elisa OYJ		2,574		107,952
O2 Czech Republic A/S		39,204		425,323
Telefonica SA		28,440		244,588
Telenor ASA		23,004		435,310
Telia Co. AB		24,786		107,886
Telstra Corp. Ltd.		196,218		444,955

				1,766,014

Electric Utilities - 2.9%
EDP - Energias de Portugal SA		26,154		95,733
Endesa SA		18,450		461,939
Enel SpA		36,234		218,943
Federal Grid Co. Unified Energy System PJSC		184,055,526		467,119

				1,243,734

Electrical Equipment - 1.9%
ABB Ltd. (Registered)		20,178		385,520
Mitsubishi Electric Corp.		34,200		429,110

				814,630

Electronic Equipment, Instruments & Components - 1.2%
AU Optronics Corp.		234,000		90,640
General Interface Solution Holding Ltd.		18,000		61,227
Hitachi Ltd.		4,300		134,852
Kingboard Laminates Holdings Ltd.		63,000		64,873
Omron Corp.		2,400		98,135
Yaskawa Electric Corp.		3,100		87,163

				536,890

Food & Staples Retailing - 1.0%
President Chain Store Corp.		41,000		430,399

Food Products - 2.1%
China Agri-Industries Holdings Ltd.		684,000		243,206


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Food Products - (continued)
MOWI ASA		18,522		408,106
Nestle SA (Registered)		2,970		258,771

				910,083

Health Care Equipment & Supplies - 0.5%
Hoya Corp.		3,900		225,693

Hotels, Restaurants & Leisure - 1.2%
Sands China Ltd.		108,000		513,388
Wynn Macau Ltd.		7,200		17,471

				530,859

Household Durables - 1.2%
Persimmon plc		15,930		497,684

Independent Power and Renewable Electricity Producers - 0.4%
Engie Brasil Energia SA		14,650		168,305

Industrial Conglomerates - 0.9%
Sime Darby Bhd.		718,200		392,766

Insurance - 7.8%
Aegon NV		71,640		368,435
Allianz SE (Registered)		2,718		576,723
Assicurazioni Generali SpA		990		17,375
AXA SA		11,142		258,830
BB Seguridade Participacoes SA		16,200		138,128
Dai-ichi Life Holdings, Inc.		25,200		407,419
Legal & General Group plc		146,790		500,888
Ping An Insurance Group Co. of China Ltd., Class H(a)		18,000		174,111
Poste Italiane SpA(b)		13,050		112,516
Powszechny Zaklad Ubezpieczen SA		14,184		170,575
Tokio Marine Holdings, Inc.		7,200		351,433
Zurich Insurance Group AG*		828		260,143

				3,336,576

Interactive Media & Services - 0.4%
Tencent Holdings Ltd.		3,600		158,742

Machinery - 5.1%
Atlas Copco AB, Class A*		19,872		517,268
Atlas Copco AB, Class B*		522		12,468
FANUC Corp.		1,900		320,537
NSK Ltd.		41,400		402,854
Sinotruk Hong Kong Ltd.(a)		162,000		298,123
SMC Corp.		1,400		459,634
Weichai Power Co. Ltd., Class H(a)		126,000		168,606

				2,179,490

Media - 3.1%
Eutelsat Communications SA		12,744		270,527
ITV plc		222,120		377,799
Naspers Ltd., Class N		1,188		272,157
ProSiebenSat.1 Media SE		21,924		393,199

				1,313,682

Metals & Mining - 6.4%
BHP Group plc		6,804		151,278
Cia Siderurgica Nacional SA*		149,400		418,327


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Metals & Mining - (continued)
Eregli Demir ve Celik Fabrikalari TAS		140,058		229,736
Evraz plc		59,400		389,282
Kumba Iron Ore Ltd.		19,584		499,768
Novolipetsk Steel PJSC		108,198		251,200
Rio Tinto plc		7,182		395,617
Severstal PJSC		27,396		417,767

				2,752,975

Multiline Retail - 0.3%
Wesfarmers Ltd.		6,354		149,230

Multi-Utilities - 0.4%
Engie SA		10,242		164,354

Oil, Gas & Consumable Fuels - 6.4%
BP plc		116,784		798,996
China Petroleum & Chemical Corp., Class H		144,000		120,570
China Shenhua Energy Co. Ltd., Class H		63,000		158,971
Crescent Point Energy Corp.		12,924		38,576
Eni SpA		13,032		221,403
Equinor ASA		7,812		178,804
Inter Pipeline Ltd.		24,966		401,494
OMV AG		8,496		423,095
TransCanada Corp.		5,616		238,957
Vermilion Energy, Inc.(a)		3,474		85,177
Yanzhou Coal Mining Co. Ltd., Class H		72,000		65,699

				2,731,742

Paper & Forest Products - 0.3%
UPM-Kymmene OYJ		5,022		145,561

Personal Products - 1.4%
Kose Corp.(a)		2,600		382,009
L’Oreal SA		792		190,935
Pola Orbis Holdings, Inc.		900		26,835

				599,779

Pharmaceuticals - 8.0%
AstraZeneca plc		7,344		534,428
Bayer AG (Registered)		630		47,856
GlaxoSmithKline plc		52,272		1,015,740
Livzon Pharmaceutical Group, Inc., Class H		120,600		387,312
Novartis AG (Registered)		3,546		309,171
Orion OYJ, Class B		12,672		448,283
Roche Holding AG		1,026		272,969
Roche Holding AG - BR		504		132,592
Sanofi		3,276		285,011

				3,433,362

Real Estate Management & Development - 4.1%
Agile Group Holdings Ltd.		324,000		428,603
China Evergrande Group(a)		36,000		112,633
Daiwa House Industry Co. Ltd.		1,800		58,335
Future Land Development Holdings Ltd.		144,000		121,121
Ruentex Development Co. Ltd.*		144,000		217,958
Shimao Property Holdings Ltd.		36,000		101,852


Investments	Shares		Value ($)
COMMON STOCKS - (continued)
Real Estate Management & Development - (continued)
SOHO China Ltd.*		1,089,000		439,947
Wharf Holdings Ltd. (The)		54,000		162,756
Yuzhou Properties Co. Ltd.		200,549		98,911

				1,742,116

Semiconductors & Semiconductor Equipment - 3.5%
Disco Corp.		900		132,978
Novatek Microelectronics Corp.		90,000		462,868
Taiwan Semiconductor Manufacturing Co. Ltd.		12,000		86,324
Tokyo Electron Ltd.		3,000		430,993
Vanguard International Semiconductor Corp.		180,000		390,216

				1,503,379

Software - 0.9%
Trend Micro, Inc.		7,500		398,328

Specialty Retail - 1.9%
CECONOMY AG		92,880		436,958
Hennes & Mauritz AB, Class B		25,146		390,785

				827,743

Technology Hardware, Storage & Peripherals - 1.6%
Catcher Technology Co. Ltd.		11,000		82,890
Compal Electronics, Inc.		162,000		95,972
Lite-On Technology Corp.		72,000		106,049
Pegatron Corp.		54,000		91,050
Samsung Electronics Co. Ltd.		3,852		159,772
Samsung Electronics Co. Ltd. (Preference)		3,996		134,678

				670,411

Textiles, Apparel & Luxury Goods - 1.1%
HUGO BOSS AG		4,788		344,143
Ruentex Industries Ltd.*		54,000		144,134

				488,277

Tobacco - 2.5%
British American Tobacco plc		4,914		173,691
Imperial Brands plc		14,130		469,329
Japan Tobacco, Inc.		16,200		409,354

				1,052,374

Trading Companies & Distributors - 1.7%
ITOCHU Corp.		9,000		164,693
Mitsubishi Corp.		7,200		210,449
Toyota Tsusho Corp.		11,300		359,257

				734,399

Transportation Infrastructure - 0.7%
Atlantia SpA		11,988		283,916

Wireless Telecommunication Services - 0.2%
Freenet AG		3,996		85,193

TOTAL COMMON STOCKS (Cost $43,657,223)				42,446,572


Investments	Number of Rights		Value ($)
RIGHTS - 0.0%(c)
Construction & Engineering - 0.0%(c)
ACS Actividades de Construccion y Servicios SA, expiring 2/5/2019* (Cost $4,645)		8,932		4,915

Total Investments — 98.9% (Cost $43,661,868)				42,451,487
Other Assets Less Liabilities — 1.1%				481,822

Net Assets — 100.0%				42,933,309

*	Non-income producing security.

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $1,628,716, collateralized by $487,996 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 8.00%, and maturity dates ranging from February 14, 2019 – May 15, 2047 and $1,239,164 of collateral in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 8.50%, and maturity dates ranging from April 25, 2019 – November 2, 2086; a total value of $1,727,160.

(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.

Percentages shown are based on Net Assets.


Abbreviations

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.

FlexShares^® International Quality Dividend Dynamic Index Fund had the following open futures contracts as of January 31, 2019:

FlexShares^® International Quality Dividend Dynamic Index Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of January 31, 2019:


Investments	Principal Amount ($)		Value ($)
U.S. TREASURY OBLIGATIONS - 99.9%
U.S. Treasury Inflation Linked Bonds
2.38%, 1/15/2025		47,653,888		52,287,327
2.00%, 1/15/2026		32,330,636		35,083,942
U.S. Treasury Inflation Linked Notes
0.13%, 4/15/2020		68,580,803		67,689,163
1.25%, 7/15/2020		47,629,452		48,011,148
1.13%, 1/15/2021		53,790,894		54,088,312
0.13%, 4/15/2021		60,842,512		59,846,097
0.63%, 7/15/2021		50,992,656		51,012,927
0.13%, 1/15/2022		58,512,010		57,446,612
0.13%, 4/15/2022		150,919,925		147,772,813
0.13%, 7/15/2022		146,637,982		144,232,518
0.13%, 1/15/2023		146,714,487		143,401,348
0.63%, 4/15/2023(a)		156,565,124		155,869,959
0.38%, 7/15/2023		70,390,885		69,700,976
0.63%, 1/15/2024		56,369,193		56,223,694
0.13%, 7/15/2024		55,397,076		53,911,422
0.25%, 1/15/2025		55,599,748		54,107,321
0.38%, 7/15/2025		55,462,740		54,471,199
0.63%, 1/15/2026		57,140,986		56,705,733

TOTAL U.S. TREASURY OBLIGATIONS (Cost $1,371,935,415)				1,361,862,511

Total Investments — 99.9% (Cost $1,371,935,415)				1,361,862,511
Other Assets Less Liabilities — 0.1%				1,659,182

Net Assets — 100.0%				1,363,521,693

(a)

The security or a portion of this security is on loan at January 31, 2019. The total value of securities on loan at January 31, 2019 was $97,564,870, collateralized in the form of Foreign Government Fixed Income Securities, interest rates ranging from 0.00% – 5.75%, and maturity dates ranging from February 6, 2019 – May 21, 2030; a total value of $103,740,949.

Percentages shown are based on Net Assets.


Investments	Principal Amount ($)		Value ($)
U.S. TREASURY OBLIGATIONS - 99.9%
U.S. Treasury Inflation Linked Bonds
2.38%, 1/15/2025		30,051,098		32,972,999
2.00%, 1/15/2026		33,992,882		36,887,747
2.38%, 1/15/2027		27,632,857		31,053,649
1.75%, 1/15/2028		15,068,452		16,312,384
3.63%, 4/15/2028		20,748,631		25,918,229
2.50%, 1/15/2029		13,312,139		15,471,722
3.88%, 4/15/2029		23,978,310		31,124,189
3.38%, 4/15/2032		5,658,421		7,447,565
U.S. Treasury Inflation Linked Notes
0.13%, 1/15/2023		35,550,406		34,747,599
0.63%, 4/15/2023		39,141,281		38,967,490
0.38%, 7/15/2023		35,312,950		34,966,844
0.63%, 1/15/2024		35,274,358		35,183,308
0.13%, 7/15/2024		34,560,812		33,633,951
0.25%, 1/15/2025		34,633,588		33,703,942
0.38%, 7/15/2025		58,352,520		57,309,317
0.63%, 1/15/2026		60,190,556		59,732,074
0.13%, 7/15/2026		51,863,758		49,703,105
0.38%, 1/15/2027		31,927,428		30,971,892
0.38%, 7/15/2027		30,255,640		29,382,048
0.50%, 1/15/2028		31,573,002		30,790,460
0.75%, 7/15/2028		29,313,824		29,331,572
0.88%, 1/15/2029		10,785,119		10,879,067

TOTAL U.S. TREASURY OBLIGATIONS (Cost $714,134,973)				706,491,153

Total Investments - 99.9% (Cost $714,134,973)				706,491,153
Other Assets Less Liabilities - 0.1%				1,043,680

Net Assets - 100.0%				707,534,833

Percentages shown are based on Net Assets.


Investments	Principal Amount ($)		Value ($)
MORTGAGE-BACKED SECURITIES - 99.4%
FHLMC
3.50%, 1/1/2021		172,076		175,257
3.50%, 2/1/2021		79,228		80,693
4.00%, 7/1/2024		545,475		561,974
4.00%, 9/1/2024		151,473		156,054
4.00%, 4/1/2025		74,547		76,801
4.00%, 6/1/2025		193,896		199,761
3.50%, 10/1/2025		275,794		280,981
4.00%, 10/1/2025		135,816		139,924
3.50%, 11/1/2025		246,842		251,495
3.50%, 2/1/2026		86,970		88,706
4.00%, 3/1/2026		161,966		167,309
4.00%, 4/1/2026		490,455		505,336
3.50%, 6/1/2026		427,487		435,645
4.00%, 8/1/2026		210,524		217,438
3.00%, 9/1/2026		660,970		664,668
3.50%, 10/1/2026		113,193		115,446
3.00%, 12/1/2026		148,622		149,426
3.50%, 12/1/2026		174,047		177,405
3.00%, 1/1/2027		181,465		182,480
2.50%, 4/1/2027		217,996		215,691
3.00%, 5/1/2027		231,635		232,937
4.00%, 5/1/2027		167,239		172,297
3.50%, 8/1/2027		195,730		199,436
2.50%, 10/1/2027		106,225		105,101
2.50%, 11/1/2027		465,350		460,062
2.50%, 2/1/2028		51,485		50,940
2.50%, 4/1/2028		526,751		521,174
2.50%, 11/1/2028		20,463		20,240
3.00%, 11/1/2028		257,386		258,831
3.00%, 1/1/2029		195,858		196,957
6.50%, 12/1/2029		114,915		127,763
2.00%, 10/1/2031		384,842		369,823
2.00%, 11/1/2031		262,740		252,486
5.50%, 10/1/2032		112,142		121,484
3.00%, 4/1/2033		267,943		268,787
6.00%, 4/1/2034		64,723		70,645
5.00%, 5/1/2034		470,928		501,969
6.50%, 7/1/2034		92,951		102,051
6.50%, 11/1/2034		44,725		48,817
3.00%, 5/1/2035		303,480		303,627
5.50%, 5/1/2035		285,942		310,738
6.00%, 5/1/2035		233,504		256,068
5.50%, 6/1/2035		57,909		62,344
5.00%, 7/1/2035		67,832		72,525
5.50%, 10/1/2035		36,181		39,300
3.00%, 11/1/2035		247,257		248,038
6.00%, 12/1/2035		126,684		138,984
5.50%, 1/1/2036		164,052		178,285
6.00%, 5/1/2036		268,129		293,966
5.50%, 12/1/2036		162,928		176,820


Investments	Principal Amount ($)		Value ($)
MORTGAGE-BACKED SECURITIES - (continued)
5.50%, 2/1/2037		49,080		53,334
6.00%, 4/1/2037		62,389		68,130
6.50%, 4/1/2037		161,588		180,246
5.50%, 7/1/2037		114,189		124,098
5.50%, 9/1/2037		53,505		58,124
6.00%, 9/1/2037		211,946		232,528
5.50%, 12/1/2037		336,813		362,283
6.50%, 12/1/2037		53,227		59,081
5.50%, 1/1/2038		26,881		29,184
5.00%, 7/1/2038		73,872		78,550
5.50%, 7/1/2038		5,814		6,271
5.50%, 8/1/2038		251,309		269,510
5.00%, 10/1/2038		53,598		56,994
5.50%, 12/1/2038		19,162		20,506
6.50%, 12/1/2038		88,637		99,623
5.00%, 2/1/2039		769,598		819,251
5.50%, 3/1/2039		152,156		164,259
6.50%, 4/1/2039		48,261		54,725
5.00%, 5/1/2039		120,670		130,081
5.00%, 8/1/2039		9,722		10,352
5.00%, 9/1/2039		11,998		12,758
6.50%, 9/1/2039		227,076		262,251
4.50%, 10/1/2039		23,788		25,010
5.50%, 1/1/2040		92,243		98,887
4.00%, 2/1/2040		14,828		15,333
4.50%, 4/1/2040		331,160		349,192
5.50%, 4/1/2040		208,178		221,912
6.00%, 4/1/2040		98,408		107,411
6.00%, 5/1/2040		213,949		234,352
5.50%, 6/1/2040		67,554		72,010
6.00%, 7/1/2040		1,570,177		1,722,460
3.50%, 12/1/2040		159,708		161,896
4.00%, 1/1/2041		113,716		117,582
4.50%, 3/1/2041		157,769		166,002
4.00%, 4/1/2041		230,975		238,928
5.50%, 4/1/2041		26,960		28,739
5.50%, 6/1/2041		656,513		711,203
4.50%, 8/1/2041		148,425		156,173
3.50%, 11/1/2041		223,602		226,666
4.00%, 1/1/2042		127,728		132,452
3.50%, 2/1/2042		230,941		234,106
5.00%, 2/1/2042		140,106		149,083
4.00%, 4/1/2042		107,192		110,839
3.00%, 3/1/2043		36,096		35,679
3.00%, 4/1/2043		123,755		122,332
3.00%, 6/1/2043		183,446		181,314
4.50%, 3/1/2044		102,902		107,513
4.00%, 6/1/2044		16,957		17,440
4.50%, 7/1/2044		174,071		181,698
4.00%, 8/1/2044		49,699		51,114
5.00%, 8/1/2044		436,473		463,960
4.50%, 9/1/2044		76,658		80,375
4.50%, 12/1/2044		39,955		41,670
3.00%, 7/1/2045		106,781		105,208
4.00%, 7/1/2045		123,153		126,558


Investments	Principal Amount ($)		Value ($)
MORTGAGE-BACKED SECURITIES - (continued)
4.50%, 9/1/2045		59,662		62,118
4.00%, 10/1/2045		183,378		188,431
4.50%, 12/1/2045		323,903		337,776
3.00%, 4/1/2046		265,074		260,738
4.00%, 4/1/2046		91,286		93,785
3.50%, 5/1/2046		196,136		197,934
4.00%, 5/1/2046		103,090		105,912
4.50%, 5/1/2046		179,038		186,677
4.50%, 6/1/2046		303,305		318,580
4.00%, 10/1/2046		296,488		304,605
4.50%, 3/1/2047		334,863		349,368
3.00%, 9/1/2047		274,065		269,708
TBA 3.50%, 2/15/2049		100,000		100,561
FNMA
4.00%, 7/1/2019		1		1
4.50%, 1/1/2020		7,599		7,727
4.50%, 4/1/2020		7,277		7,399
4.50%, 11/1/2020		30,647		31,162
4.00%, 5/1/2024		113,697		117,027
4.00%, 1/1/2025		198,506		204,353
4.00%, 3/1/2025		116,791		120,506
3.50%, 9/1/2025		114,498		116,690
4.00%, 9/1/2025		285,804		294,111
3.00%, 11/1/2025		337,142		339,060
3.50%, 11/1/2025		208,301		212,288
3.00%, 12/1/2025		152,109		152,973
3.50%, 12/1/2025		147,192		150,009
4.00%, 12/1/2025		181,249		187,151
3.00%, 1/1/2026		375,889		378,026
3.50%, 2/1/2026		255,847		260,744
4.00%, 4/1/2026		312,562		322,726
4.00%, 5/1/2026		279,825		288,065
3.00%, 8/1/2026		277,318		278,896
3.00%, 10/1/2026		125,906		126,331
2.50%, 11/1/2026		59,999		59,201
3.00%, 12/1/2026		341,937		343,883
3.50%, 12/1/2026		167,021		170,218
4.00%, 5/1/2027		202,323		208,248
2.50%, 6/1/2027		22,043		21,823
3.50%, 6/1/2027		428,018		436,211
2.50%, 10/1/2027		459,313		454,740
2.50%, 12/1/2027		122,319		121,077
3.50%, 1/1/2028		786,232		802,797
3.00%, 3/1/2028		44,084		44,336
3.00%, 6/1/2028		871,419		876,272
3.00%, 7/1/2028		41,440		41,587
3.50%, 7/1/2028		268,372		273,509
2.50%, 8/1/2028		71,904		71,187
2.50%, 9/1/2028		281,765		278,955
3.00%, 11/1/2028		38,905		39,044
4.00%, 7/1/2029		323,688		333,157
4.00%, 11/1/2029		141,133		145,246
3.50%, 10/1/2030		133,986		135,529
3.50%, 11/1/2030		30,804		31,158
2.00%, 9/1/2031		301,298		289,515
2.00%, 11/1/2031		236,181		226,939
6.00%, 12/1/2032		25,728		28,214
3.00%, 3/1/2033		202,943		203,485


Investments	Principal Amount ($)		Value ($)
MORTGAGE-BACKED SECURITIES - (continued)
3.00%, 7/1/2033		33,950		34,041
3.00%, 10/1/2033		190,288		190,797
5.00%, 6/1/2034		192,609		206,331
6.00%, 8/1/2034		93,349		102,386
6.50%, 9/1/2034		229,064		259,788
5.00%, 12/1/2034		45,309		48,550
5.00%, 1/1/2035		57,520		61,627
5.00%, 6/1/2035		301,811		323,348
5.00%, 7/1/2035		116,526		124,792
5.00%, 10/1/2035		225,801		241,979
5.00%, 11/1/2035		110,564		118,518
6.00%, 11/1/2035		42,062		46,125
5.00%, 2/1/2036		117,616		126,048
5.00%, 8/1/2036		194,457		208,445
5.50%, 12/1/2036		123,183		134,079
6.50%, 12/1/2036		199,641		222,151
5.50%, 1/1/2037		36,163		39,431
5.50%, 2/1/2037		11,206		12,164
6.00%, 8/1/2037		79,781		87,474
6.00%, 9/1/2037		324,386		358,071
6.00%, 12/1/2037		513,806		562,751
5.00%, 3/1/2038		239,214		253,757
5.00%, 5/1/2038		101,201		108,460
5.50%, 6/1/2038		305,372		332,744
5.50%, 7/1/2038		230,670		248,967
5.50%, 9/1/2038		37,273		40,600
6.00%, 9/1/2038		64,976		71,268
5.50%, 11/1/2038		190,568		205,663
5.00%, 1/1/2039		12,522		13,351
5.50%, 3/1/2039		197,351		213,460
4.50%, 4/1/2039		121,811		128,001
5.50%, 4/1/2039		392,842		428,047
5.50%, 8/1/2039		202,715		217,525
5.50%, 1/1/2040		37,599		40,230
4.50%, 4/1/2040		22,047		23,184
5.50%, 4/1/2040		41,585		44,921
6.00%, 6/1/2040		478,164		524,427
4.50%, 7/1/2040		222,952		234,452
4.00%, 9/1/2040		92,876		95,923
4.00%, 11/1/2040		118,070		121,937
3.50%, 1/1/2041		41,021		41,508
3.50%, 2/1/2041		76,164		77,068
4.00%, 2/1/2041		161,469		166,765
4.50%, 4/1/2041		106,415		111,904
5.50%, 4/1/2041		13,211		14,110
6.00%, 5/1/2041		198,677		217,686
4.50%, 6/1/2041		35,432		37,374
5.50%, 7/1/2041		87,914		94,951
6.00%, 7/1/2041		271,773		298,086
4.50%, 8/1/2041		47,468		49,953
5.00%, 8/1/2041		234,475		248,916
5.50%, 8/1/2041		385,059		412,502
5.50%, 9/1/2041		174,375		189,386
4.00%, 12/1/2041		167,967		173,478
3.50%, 1/1/2042		141,224		142,902
4.00%, 1/1/2042		86,258		89,087
4.50%, 1/1/2042		49,537		52,090
6.00%, 1/1/2042		258,222		282,702


Investments	Principal Amount ($)		Value ($)
MORTGAGE-BACKED SECURITIES - (continued)
3.00%, 4/1/2042		152,365		150,603
3.50%, 5/1/2042		202,615		205,022
3.50%, 8/1/2042		150,821		152,613
3.50%, 1/1/2043		102,287		103,499
3.00%, 2/1/2043		200,877		198,512
3.50%, 3/1/2043		190,137		192,395
3.00%, 5/1/2043		13,447		13,297
3.50%, 5/1/2043		244,489		247,374
3.00%, 6/1/2043		113,329		111,611
3.50%, 7/1/2043		49,759		50,247
3.50%, 8/1/2043		96,769		97,881
4.00%, 8/1/2043		30,542		31,444
5.00%, 8/1/2043		289,168		307,008
3.00%, 9/1/2043		156,439		154,581
4.00%, 9/1/2043		171,271		177,296
4.50%, 9/1/2043		56,036		58,481
4.00%, 11/1/2043		138,863		142,961
4.50%, 12/1/2043		235,709		246,406
5.00%, 1/1/2044		265,326		281,190
5.00%, 3/1/2044		103,412		111,687
5.00%, 5/1/2044		122,837		130,023
5.50%, 5/1/2044		601,103		654,342
5.00%, 6/1/2044		35,629		37,623
4.50%, 10/1/2044		172,587		180,421
3.00%, 12/1/2044		422,236		416,828
3.00%, 2/1/2045		116,028		114,398
4.00%, 2/1/2045		92,515		95,091
3.00%, 4/1/2045		123,803		122,064
4.00%, 4/1/2045		57,620		59,705
3.00%, 5/1/2045		185,301		182,526
4.00%, 11/1/2045		133,407		138,074
4.00%, 3/1/2046		226,650		233,186
4.50%, 3/1/2046		167,967		175,481
3.50%, 5/1/2046		130,605		131,624
4.00%, 5/1/2046		223,086		229,230
4.50%, 7/1/2046		161,789		168,520
4.50%, 2/1/2047		456,183		478,305
4.50%, 5/1/2047		239,585		250,318
5.50%, 1/1/2049		714,234		761,179
TBA 3.50%, 2/25/2049		175,000		175,878
GNMA
3.00%, 2/20/2027		809,825		815,670
2.50%, 4/20/2027		128,584		127,801
2.50%, 11/20/2027		141,106		140,247
2.50%, 1/20/2028		71,430		70,995
3.00%, 3/20/2028		142,598		143,631
3.00%, 7/20/2028		475,689		479,143
2.50%, 8/20/2028		302,874		301,026
2.50%, 11/20/2028		147,957		147,054
2.50%, 12/20/2028		30,147		29,963
2.50%, 3/20/2031		214,094		211,728
2.50%, 9/20/2031		312,398		308,945
2.50%, 10/20/2031		106,923		105,741
6.00%, 3/20/2032		135,933		149,286
6.00%, 11/15/2032		242,588		267,958
6.00%, 3/15/2033		234,549		259,066
5.50%, 6/15/2033		349,061		383,253
5.50%, 8/20/2033		46,575		50,898


Investments	Principal Amount ($)		Value ($)
MORTGAGE-BACKED SECURITIES - (continued)
5.50%, 11/20/2033		65,255		71,307
6.00%, 12/15/2033		189,747		209,911
5.50%, 2/15/2034		423,499		459,963
5.50%, 3/20/2034		75,773		82,797
5.50%, 7/20/2034		50,175		54,829
5.50%, 3/15/2035		273,393		300,037
5.50%, 3/20/2036		247,853		269,028
5.50%, 3/20/2038		103,378		111,851
5.50%, 9/20/2038		102,306		109,490
5.50%, 11/20/2038		226,953		245,462
6.00%, 12/20/2038		388,597		422,685
5.50%, 2/15/2039		230,364		251,677
5.50%, 2/20/2039		123,958		134,071
4.50%, 5/15/2039		129,747		136,354
5.00%, 5/15/2039		94,228		101,192
5.50%, 5/15/2039		59,708		65,233
5.00%, 9/15/2039		196,660		211,223
5.50%, 9/15/2039		25,805		28,196
4.00%, 9/20/2039		40,114		41,762
4.50%, 10/15/2039		439,325		461,747
4.50%, 12/15/2039		207,651		218,144
5.50%, 12/15/2039		72,478		79,212
5.00%, 1/20/2040		330,287		352,981
5.50%, 3/15/2040		153,302		168,211
4.50%, 4/15/2040		351,227		369,019
5.00%, 4/15/2040		218,467		233,222
4.50%, 6/15/2040		611,718		642,424
4.00%, 8/15/2040		22,402		23,303
4.00%, 10/15/2040		14,562		15,036
3.50%, 11/15/2040		179,324		182,564
5.50%, 1/20/2041		40,295		43,980
4.00%, 3/15/2041		5,845		6,055
4.00%, 6/15/2041		177,307		183,617
4.50%, 6/15/2041		696,910		731,802
4.00%, 8/15/2041		218,535		226,416
3.50%, 9/15/2041		118,880		121,024
5.50%, 9/20/2041		153,391		165,835
3.50%, 11/20/2041		97,442		99,305
3.50%, 1/15/2042		28,657		29,174
5.50%, 2/20/2042		36,168		38,951
4.50%, 3/15/2042		148,720		156,176
3.50%, 4/20/2042		296,269		301,701
3.00%, 5/15/2042		87,750		87,143
3.50%, 6/15/2042		196,913		200,479
3.50%, 8/20/2042		51,235		52,163
3.00%, 9/15/2042		215,504		214,525
3.00%, 10/15/2042		218,663		217,668
3.00%, 12/20/2042		122,891		122,787
3.50%, 12/20/2042		18,819		19,063
5.00%, 12/20/2042		178,547		189,086
6.00%, 1/20/2043		377,841		411,114
3.00%, 2/20/2043		85,840		85,437
5.50%, 2/20/2043		22,643		24,639
2.50%, 3/20/2043		100,904		98,589
3.00%, 3/20/2043		271,870		270,590
3.00%, 4/15/2043		87,971		87,571
3.00%, 5/15/2043		242,770		242,043
2.50%, 5/20/2043		145,719		142,373


Investments	Principal Amount ($)		Value ($)
MORTGAGE-BACKED SECURITIES - (continued)
3.50%, 5/20/2043		112,721		114,171
3.50%, 6/15/2043		278,709		283,751
3.00%, 9/20/2043		137,786		137,948
3.50%, 10/20/2043		274,136		279,026
5.00%, 12/20/2043		105,491		111,762
5.00%, 1/20/2044		7,649		8,102
5.50%, 4/20/2044		196,874		213,217
4.00%, 7/15/2044		237,097		245,700
3.50%, 8/20/2044		112,089		113,847
3.50%, 9/15/2044		214,843		217,706
4.00%, 9/15/2044		46,018		47,403
3.50%, 10/15/2044		94,034		95,497
3.50%, 10/20/2044		18,818		19,104
2.50%, 11/20/2044		111,514		108,395
4.00%, 12/15/2044		72,245		74,421
3.00%, 12/20/2044		59,154		59,108
3.50%, 12/20/2044		58,025		58,875
3.50%, 1/15/2045		249,194		252,683
3.00%, 1/20/2045		116,651		116,283
3.50%, 2/20/2045		77,565		78,682
3.00%, 3/15/2045		184,688		183,963
3.00%, 3/20/2045		91,300		90,994
3.50%, 5/15/2045		89,322		90,512
3.00%, 7/15/2045		490,791		487,395
3.00%, 12/20/2045		141,218		140,598
3.50%, 12/20/2045		267,418		271,270
3.00%, 1/20/2046		195,913		195,265
4.00%, 3/15/2046		187,361		193,035
4.00%, 3/20/2046		229,793		237,683
3.50%, 4/20/2046		754,691		765,445
4.00%, 5/20/2046		969,982		1,002,141
4.00%, 7/15/2046		240,220		248,808
5.00%, 7/15/2046		160,097		171,896
3.00%, 9/20/2046		155,488		154,684
2.50%, 12/20/2046		280,122		270,825
3.00%, 12/20/2046		161,360		160,353
5.50%, 5/20/2047		198,117		213,066
4.50%, 11/15/2047		715,198		753,244
5.00%, 2/20/2048		391,920		409,803
5.00%, 4/20/2048		193,525		202,355
5.50%, 11/20/2048		754,037		794,553
TBA 3.00%, 2/15/2049		100,000		99,273

TOTAL MORTGAGE-BACKED SECURITIES (Cost $75,368,347)				74,672,679

Total Investments - 99.4% (Cost $75,368,347)				74,672,679
Other Assets Less Liabilities - 0.6%				448,809

Net Assets - 100.0%				75,121,488

Percentages shown are based on Net Assets.


Abbreviations

FHLMC		Federal Home Loan Mortgage Corp.
FNMA		Federal National Mortgage Association


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 98.8%
Aerospace & Defense - 1.9%
General Dynamics Corp.
3.75%, 5/15/2028		200,000		205,737
L3 Technologies, Inc.
4.95%, 2/15/2021		150,000		154,307
Lockheed Martin Corp.
3.35%, 9/15/2021		155,000		157,369
3.55%, 1/15/2026		70,000		71,015
Northrop Grumman Corp.
2.93%, 1/15/2025		400,000		388,334
Rockwell Collins, Inc.
3.50%, 3/15/2027		200,000		192,745
United Technologies Corp.
3.10%, 6/1/2022		500,000		498,662
3.13%, 5/4/2027		200,000		191,082

				1,859,251

Air Freight & Logistics - 0.2%
FedEx Corp.
3.20%, 2/1/2025		130,000		126,685
United Parcel Service, Inc.
2.45%, 10/1/2022		80,000		78,971

				205,656

Banks - 31.7%
Australia & New Zealand Banking Group Ltd.
2.30%, 6/1/2021		250,000		245,832
Banco Santander SA
3.13%, 2/23/2023		400,000		389,026
Bank of America Corp.
2.74%, 1/23/2022(a)		250,000		248,104
2.50%, 10/21/2022		700,000		684,445
3.30%, 1/11/2023		400,000		402,241
3.12%, 1/20/2023(a)		250,000		249,233
3.00%, 12/20/2023(a)		500,000		493,889
4.20%, 8/26/2024		320,000		327,805
4.00%, 1/22/2025		255,000		257,207
3.88%, 8/1/2025		600,000		612,271
3.50%, 4/19/2026		200,000		198,404
3.82%, 1/20/2028(a)		500,000		498,899
3.71%, 4/24/2028(a)		175,000		172,727
3.42%, 12/20/2028(a)		200,000		193,185
3.97%, 3/5/2029(a)		250,000		251,453
4.27%, 7/23/2029(a)		100,000		103,158
Bank of Montreal
1.90%, 8/27/2021		150,000		146,647
Bank of Nova Scotia (The)
2.45%, 3/22/2021		350,000		347,263
4.50%, 12/16/2025		100,000		102,507
Barclays plc
3.20%, 8/10/2021		200,000		196,826
3.65%, 3/16/2025		200,000		191,484
4.38%, 1/12/2026		200,000		197,216


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Banks - (continued)
4.84%, 5/9/2028		200,000		192,320
BB&T Corp.
2.85%, 10/26/2024		150,000		147,059
BNP Paribas SA
5.00%, 1/15/2021		95,000		98,779
Citibank NA
3.40%, 7/23/2021		250,000		252,624
Citigroup, Inc.
2.70%, 3/30/2021		425,000		422,250
2.90%, 12/8/2021		500,000		497,198
4.50%, 1/14/2022		150,000		156,084
4.05%, 7/30/2022		100,000		102,065
3.50%, 5/15/2023		250,000		249,410
3.30%, 4/27/2025		200,000		195,470
4.40%, 6/10/2025		325,000		331,884
3.40%, 5/1/2026		200,000		194,956
3.20%, 10/21/2026		250,000		240,775
4.45%, 9/29/2027		200,000		203,141
3.89%, 1/10/2028(a)		200,000		199,593
3.67%, 7/24/2028(a)		155,000		152,156
4.13%, 7/25/2028		200,000		198,531
3.52%, 10/27/2028(a)		250,000		241,713
4.07%, 4/23/2029(a)		150,000		151,358
Citizens Financial Group, Inc.
4.30%, 12/3/2025		60,000		59,729
Credit Suisse Group Funding Guernsey Ltd.
3.45%, 4/16/2021		250,000		250,338
3.80%, 9/15/2022		250,000		250,597
3.75%, 3/26/2025		250,000		244,353
Discover Bank
3.20%, 8/9/2021		250,000		248,656
Fifth Third Bancorp
3.50%, 3/15/2022		295,000		297,013
Fifth Third Bank
3.85%, 3/15/2026		200,000		198,474
HSBC Holdings plc
2.95%, 5/25/2021		350,000		348,795
4.00%, 3/30/2022		510,000		523,661
4.25%, 8/18/2025		300,000		303,017
3.90%, 5/25/2026		200,000		199,351
4.04%, 3/13/2028(a)		200,000		198,121
Huntington Bancshares, Inc.
3.15%, 3/14/2021		100,000		100,264
4.00%, 5/15/2025		200,000		203,803
ING Groep NV
4.55%, 10/2/2028		200,000		203,195
JPMorgan Chase & Co.
2.55%, 3/1/2021		475,000		471,609
2.30%, 8/15/2021		150,000		147,479
3.38%, 5/1/2023		520,000		519,745
3.56%, 4/23/2024(a)		100,000		100,612
3.13%, 1/23/2025		230,000		225,755
3.90%, 7/15/2025		250,000		255,233
3.30%, 4/1/2026		470,000		461,171


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Banks - (continued)
3.20%, 6/15/2026		700,000		680,442
2.95%, 10/1/2026		450,000		430,313
4.13%, 12/15/2026		125,000		127,381
4.25%, 10/1/2027		125,000		127,075
3.78%, 2/1/2028(a)		875,000		872,411
4.20%, 7/23/2029(a)		350,000		358,764
KeyCorp
5.10%, 3/24/2021		145,000		151,171
Lloyds Bank plc
6.38%, 1/21/2021		115,000		121,957
Lloyds Banking Group plc
3.10%, 7/6/2021		200,000		197,672
4.38%, 3/22/2028		200,000		199,516
3.57%, 11/7/2028(a)		200,000		186,430
Mitsubishi UFJ Financial Group, Inc.
2.95%, 3/1/2021		200,000		199,170
2.19%, 9/13/2021		500,000		486,417
2.67%, 7/25/2022		450,000		441,084
3.85%, 3/1/2026		200,000		202,574
3.68%, 2/22/2027		350,000		350,156
3.29%, 7/25/2027		150,000		145,405
Mizuho Financial Group, Inc.
2.95%, 2/28/2022		400,000		395,478
4.02%, 3/5/2028		400,000		410,258
National Australia Bank Ltd.
1.88%, 7/12/2021		250,000		243,081
2.80%, 1/10/2022		250,000		248,180
PNC Bank NA
3.50%, 6/8/2023		250,000		253,459
PNC Financial Services Group, Inc. (The)
3.30%, 3/8/2022		380,000		382,520
3.90%, 4/29/2024		50,000		50,658
3.15%, 5/19/2027		250,000		244,792
Royal Bank of Canada
2.75%, 2/1/2022		100,000		99,586
Santander UK Group Holdings plc
3.82%, 11/3/2028(a)		200,000		188,218
Sumitomo Mitsui Financial Group, Inc.
2.06%, 7/14/2021		482,000		469,726
2.78%, 7/12/2022		200,000		197,135
3.78%, 3/9/2026		250,000		251,662
2.63%, 7/14/2026		600,000		561,541
3.36%, 7/12/2027		350,000		341,252
4.31%, 10/16/2028		150,000		158,058
SunTrust Bank
3.53%, 10/26/2021(a)		100,000		100,515
SunTrust Banks, Inc.
2.90%, 3/3/2021		200,000		199,467
Svenska Handelsbanken AB
2.45%, 3/30/2021		250,000		247,102
Toronto-Dominion Bank (The)
2.50%, 12/14/2020		450,000		447,580
US Bancorp
Series X, 3.15%, 4/27/2027		150,000		147,920
Wells Fargo & Co.
4.60%, 4/1/2021		100,000		103,167


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Banks - (continued)
3.50%, 3/8/2022		400,000		404,686
2.63%, 7/22/2022		300,000		294,467
3.07%, 1/24/2023		250,000		248,773
4.48%, 1/16/2024		225,000		233,489
3.55%, 9/29/2025		200,000		201,058
4.10%, 6/3/2026		500,000		505,269
3.58%, 5/22/2028(a)		250,000		247,813
Westpac Banking Corp.
2.60%, 11/23/2020		500,000		497,184
2.85%, 5/13/2026		150,000		142,939
3.40%, 1/25/2028		400,000		391,318
4.32%, 11/23/2031(a)		100,000		97,206

				30,831,654

Beverages - 2.0%
Anheuser-Busch InBev Finance, Inc.
2.65%, 2/1/2021		98,000		97,644
Anheuser-Busch InBev Worldwide, Inc.
3.75%, 1/15/2022		345,000		351,587
Coca-Cola Co. (The)
3.20%, 11/1/2023		200,000		204,554
Constellation Brands, Inc.
4.25%, 5/1/2023		150,000		154,356
4.40%, 11/15/2025		300,000		309,484
Diageo Capital plc
2.63%, 4/29/2023		100,000		99,081
PepsiCo, Inc.
3.10%, 7/17/2022		200,000		202,512
3.60%, 3/1/2024		500,000		518,121

				1,937,339

Biotechnology - 3.3%
AbbVie, Inc.
2.90%, 11/6/2022		250,000		247,080
3.20%, 11/6/2022		240,000		239,792
3.60%, 5/14/2025		150,000		148,110
3.20%, 5/14/2026		100,000		94,560
4.25%, 11/14/2028		400,000		398,674
Amgen, Inc.
3.88%, 11/15/2021		250,000		254,909
2.70%, 5/1/2022		370,000		365,092
3.63%, 5/22/2024		100,000		101,633
Celgene Corp.
2.25%, 8/15/2021		150,000		146,972
3.63%, 5/15/2024		300,000		299,358
3.90%, 2/20/2028		200,000		198,618
Gilead Sciences, Inc.
3.70%, 4/1/2024		350,000		356,140
3.50%, 2/1/2025		225,000		226,148
2.95%, 3/1/2027		100,000		95,402

				3,172,488

Capital Markets - 10.7%
Bank of New York Mellon Corp. (The)
2.50%, 4/15/2021		300,000		297,649
2.05%, 5/3/2021		300,000		295,276
Series 0012, 3.65%, 2/4/2024		300,000		306,385
3.40%, 1/29/2028		150,000		149,495


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Capital Markets - (continued)
BlackRock, Inc.
3.20%, 3/15/2027		100,000		98,878
Charles Schwab Corp. (The)
3.25%, 5/21/2021		200,000		201,581
3.20%, 1/25/2028		100,000		97,449
Deutsche Bank AG
3.70%, 5/30/2024		295,000		274,419
Goldman Sachs Group, Inc. (The)
5.25%, 7/27/2021		200,000		209,806
2.35%, 11/15/2021		250,000		244,583
5.75%, 1/24/2022		1,135,000		1,218,404
3.00%, 4/26/2022		400,000		395,805
3.63%, 1/22/2023		300,000		303,970
4.00%, 3/3/2024		210,000		214,361
3.85%, 7/8/2024		700,000		709,091
3.50%, 1/23/2025		255,000		251,512
3.27%, 9/29/2025(a)		500,000		485,854
3.85%, 1/26/2027		150,000		148,158
3.81%, 4/23/2029(a)		500,000		487,237
4.22%, 5/1/2029(a)		150,000		150,936
Intercontinental Exchange, Inc.
2.75%, 12/1/2020		150,000		149,317
Morgan Stanley
5.75%, 1/25/2021		651,000		683,622
2.63%, 11/17/2021		400,000		394,630
2.75%, 5/19/2022		600,000		591,328
3.75%, 2/25/2023		200,000		203,376
4.00%, 7/23/2025		200,000		205,026
5.00%, 11/24/2025		700,000		740,726
3.88%, 1/27/2026		200,000		201,243
4.35%, 9/8/2026		400,000		405,383
State Street Corp.
3.10%, 5/15/2023		200,000		199,401
3.55%, 8/18/2025		100,000		101,911

				10,416,812

Chemicals - 1.2%
Dow Chemical Co. (The)
4.13%, 11/15/2021		100,000		102,492
3.00%, 11/15/2022		200,000		199,208
DowDuPont, Inc.
4.21%, 11/15/2023		300,000		311,287
Ecolab, Inc.
2.70%, 11/1/2026		200,000		190,248
LYB International Finance BV
4.00%, 7/15/2023		130,000		131,473
LYB International Finance II BV
3.50%, 3/2/2027		100,000		95,225
Sherwin-Williams Co. (The)
2.75%, 6/1/2022		150,000		147,288

				1,177,221

Commercial Services & Supplies - 0.4%
Republic Services, Inc.
3.55%, 6/1/2022		200,000		203,193
3.95%, 5/15/2028		100,000		101,812
Waste Management, Inc.
3.13%, 3/1/2025		105,000		103,870

				408,875


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Communications Equipment - 0.4%
Cisco Systems, Inc.
1.85%, 9/20/2021		200,000		195,740
2.95%, 2/28/2026		100,000		97,991
Motorola Solutions, Inc.
3.75%, 5/15/2022		100,000		100,077

				393,808

Consumer Finance - 5.0%
AerCap Ireland Capital DAC
5.00%, 10/1/2021		150,000		153,279
3.95%, 2/1/2022		200,000		198,743
3.88%, 1/23/2028		200,000		181,665
American Express Co.
2.50%, 8/1/2022		200,000		195,576
3.00%, 10/30/2024		450,000		437,776
3.63%, 12/5/2024		390,000		391,765
American Honda Finance Corp.
1.70%, 9/9/2021		155,000		149,973
Capital One Financial Corp.
3.50%, 6/15/2023		200,000		198,296
3.20%, 2/5/2025		750,000		721,372
4.20%, 10/29/2025		300,000		300,719
3.75%, 7/28/2026		150,000		143,096
3.75%, 3/9/2027		100,000		96,742
Discover Financial Services
4.10%, 2/9/2027		150,000		145,987
General Motors Financial Co., Inc.
3.20%, 7/6/2021		350,000		344,502
4.38%, 9/25/2021		300,000		302,611
4.35%, 1/17/2027		450,000		421,969
Synchrony Financial
4.25%, 8/15/2024		150,000		146,562
Toyota Motor Credit Corp.
1.90%, 4/8/2021		200,000		196,433
3.05%, 1/11/2028		150,000		145,637

				4,872,703

Diversified Financial Services - 1.1%
Berkshire Hathaway, Inc.
2.20%, 3/15/2021		165,000		163,741
3.13%, 3/15/2026		130,000		129,554
GE Capital International Funding Co. Unlimited Co.
2.34%, 11/15/2020		200,000		195,391
Shell International Finance BV
2.88%, 5/10/2026		175,000		170,960
3.88%, 11/13/2028		200,000		209,339
Synchrony Bank
3.65%, 5/24/2021		250,000		249,581

				1,118,566

Diversified Telecommunication Services - 2.2%
AT&T, Inc.
3.00%, 2/15/2022		200,000		198,882
3.20%, 3/1/2022		100,000		100,062
3.40%, 5/15/2025		150,000		146,890
Verizon Communications, Inc.
5.15%, 9/15/2023		550,000		598,010
3.50%, 11/1/2024		200,000		202,045
2.63%, 8/15/2026		100,000		93,505


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Diversified Telecommunication Services - (continued)
4.13%, 3/16/2027		400,000		410,717
4.33%, 9/21/2028		400,000		414,217

				2,164,328

Electric Utilities - 2.6%
Commonwealth Edison Co.
2.55%, 6/15/2026		50,000		47,095
Duke Energy Corp.
1.80%, 9/1/2021		300,000		290,185
2.65%, 9/1/2026		250,000		233,339
3.15%, 8/15/2027		200,000		191,004
Eversource Energy
Series K, 2.75%, 3/15/2022		150,000		148,107
Exelon Corp.
3.50%, 6/1/2022(b)		400,000		397,257
NextEra Energy Capital Holdings, Inc.
3.55%, 5/1/2027		130,000		126,274
Southern Co. (The)
2.95%, 7/1/2023		300,000		294,881
3.25%, 7/1/2026		100,000		95,553
Southwestern Electric Power Co.
Series M, 4.10%, 9/15/2028		200,000		203,286
Virginia Electric & Power Co.
Series A, 3.15%, 1/15/2026		50,000		49,141
Series A, 3.50%, 3/15/2027		100,000		99,568
Series A, 3.80%, 4/1/2028		200,000		202,066
Xcel Energy, Inc.
4.00%, 6/15/2028		100,000		102,580

				2,480,336

Energy Equipment & Services - 0.1%
Halliburton Co.
3.80%, 11/15/2025		75,000		75,391

Entertainment - 0.7%
21st Century Fox America, Inc.
3.70%, 10/15/2025		100,000		102,012
Viacom, Inc.
4.25%, 9/1/2023		100,000		101,486
Walt Disney Co. (The)
3.00%, 2/13/2026		160,000		158,184
1.85%, 7/30/2026		100,000		90,941
Warner Media LLC
4.70%, 1/15/2021		80,000		82,422
3.40%, 6/15/2022		100,000		100,371

				635,416

Equity Real Estate Investment Trusts (REITs) - 4.0%
American Tower Corp.
3.45%, 9/15/2021		145,000		145,448
3.50%, 1/31/2023		250,000		249,053
3.38%, 10/15/2026		300,000		286,328
3.60%, 1/15/2028		50,000		48,122
Boston Properties LP
5.63%, 11/15/2020		300,000		311,397
3.65%, 2/1/2026		255,000		250,614


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Equity Real Estate Investment Trusts (REITs) - (continued)
Crown Castle International Corp.
4.88%, 4/15/2022		250,000		259,183
5.25%, 1/15/2023		200,000		210,873
Digital Realty Trust LP
3.95%, 7/1/2022		74,000		74,870
GLP Capital LP
5.38%, 4/15/2026		200,000		204,766
HCP, Inc.
4.25%, 11/15/2023		350,000		355,529
Omega Healthcare Investors, Inc.
4.38%, 8/1/2023		250,000		251,002
Realty Income Corp.
3.65%, 1/15/2028		250,000		244,906
Simon Property Group LP
4.38%, 3/1/2021		242,000		248,456
3.75%, 2/1/2024		120,000		121,836
3.38%, 10/1/2024		200,000		200,164
Ventas Realty LP
3.50%, 2/1/2025		50,000		48,911
4.00%, 3/1/2028		150,000		147,619
Welltower, Inc.
3.75%, 3/15/2023		30,000		30,051
4.25%, 4/1/2026		150,000		151,354

				3,840,482

Food & Staples Retailing - 1.0%
Costco Wholesale Corp.
3.00%, 5/18/2027		75,000		73,485
Kroger Co. (The)
3.85%, 8/1/2023		100,000		101,105
Sysco Corp.
3.75%, 10/1/2025		200,000		200,516
Walgreens Boots Alliance, Inc.
3.30%, 11/18/2021		305,000		305,601
Walmart, Inc.
3.70%, 6/26/2028		250,000		258,099

				938,806

Food Products - 1.6%
General Mills, Inc.
4.00%, 4/17/2025		250,000		252,709
Kellogg Co.
4.30%, 5/15/2028		200,000		202,096
Kraft Heinz Foods Co.
3.50%, 6/6/2022		100,000		100,251
3.00%, 6/1/2026		500,000		463,763
Tyson Foods, Inc.
4.50%, 6/15/2022		124,000		127,860
3.55%, 6/2/2027		100,000		96,474
Unilever Capital Corp.
2.90%, 5/5/2027		200,000		194,126
3.50%, 3/22/2028		100,000		101,261

				1,538,540

Health Care Equipment & Supplies - 0.8%
Abbott Laboratories
2.90%, 11/30/2021		200,000		199,969
Becton Dickinson and Co.
3.73%, 12/15/2024		100,000		99,786


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Health Care Equipment & Supplies - (continued)
Medtronic, Inc.
3.50%, 3/15/2025		350,000		356,877
Stryker Corp.
3.65%, 3/7/2028		150,000		148,599

				805,231

Health Care Providers & Services - 2.1%
Aetna, Inc.
2.80%, 6/15/2023		395,000		384,484
Anthem, Inc.
3.30%, 1/15/2023		100,000		100,686
3.50%, 8/15/2024		100,000		99,861
CVS Health Corp.
3.35%, 3/9/2021		300,000		301,464
Express Scripts Holding Co.
3.30%, 2/25/2021		200,000		200,301
3.90%, 2/15/2022		350,000		355,981
Laboratory Corp. of America Holdings
3.20%, 2/1/2022		100,000		99,833
UnitedHealth Group, Inc.
3.75%, 7/15/2025		75,000		77,705
3.10%, 3/15/2026		350,000		344,833
3.88%, 12/15/2028		55,000		57,264

				2,022,412

Hotels, Restaurants & Leisure - 0.8%
Marriott International, Inc.
2.30%, 1/15/2022		80,000		77,416
McDonald’s Corp.
2.75%, 12/9/2020		100,000		100,094
2.63%, 1/15/2022		150,000		149,294
3.38%, 5/26/2025		125,000		124,579
3.80%, 4/1/2028		150,000		150,687
Starbucks Corp.
3.50%, 3/1/2028		200,000		195,412

				797,482

Household Products - 0.2%
Procter & Gamble Co. (The)
3.10%, 8/15/2023		150,000		153,130

Industrial Conglomerates - 0.4%
3M Co.
2.25%, 9/19/2026		100,000		93,305
Honeywell International, Inc.
1.85%, 11/1/2021		80,000		78,123
Roper Technologies, Inc.
3.80%, 12/15/2026		200,000		196,833

				368,261

Insurance - 1.1%
American International Group, Inc.
3.30%, 3/1/2021		300,000		302,296
3.90%, 4/1/2026		100,000		99,134
Chubb INA Holdings, Inc.
3.15%, 3/15/2025		270,000		267,240
Marsh & McLennan Cos., Inc.
3.50%, 3/10/2025		75,000		74,480
MetLife, Inc.
3.60%, 4/10/2024		80,000		81,754


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Insurance - (continued)
Prudential Financial, Inc.
3.50%, 5/15/2024		100,000		101,342
5.20%, 3/15/2044(a)		10,000		9,765
5.70%, 9/15/2048(a)		150,000		144,409

				1,080,420

Interactive Media & Services - 0.3%
Alphabet, Inc.
3.38%, 2/25/2024		100,000		101,987
Baidu, Inc.
4.13%, 6/30/2025		200,000		199,701

				301,688

Internet & Direct Marketing Retail - 0.3%
Alibaba Group Holding Ltd.
3.13%, 11/28/2021		200,000		199,500
eBay, Inc.
3.45%, 8/1/2024		120,000		117,982

				317,482

IT Services - 1.7%
Fidelity National Information Services, Inc.
3.50%, 4/15/2023		100,000		99,471
3.00%, 8/15/2026		100,000		93,118
Fiserv, Inc.
3.80%, 10/1/2023		250,000		250,477
International Business Machines Corp.
3.45%, 2/19/2026		450,000		449,439
3.30%, 1/27/2027		150,000		146,217
Visa, Inc.
2.80%, 12/14/2022		350,000		351,211
3.15%, 12/14/2025		200,000		201,614
2.75%, 9/15/2027		100,000		96,760

				1,688,307

Life Sciences Tools & Services - 0.3%
Thermo Fisher Scientific, Inc.
3.00%, 4/15/2023		300,000		295,994

Media - 1.5%
CBS Corp.
2.90%, 1/15/2027		100,000		90,776
Comcast Corp.
3.60%, 3/1/2024		300,000		306,014
3.95%, 10/15/2025		600,000		621,528
3.15%, 3/1/2026		395,000		385,532
Omnicom Group, Inc.
3.60%, 4/15/2026		100,000		97,227

				1,501,077

Metals & Mining - 0.2%
Vale Overseas Ltd.
4.38%, 1/11/2022		200,000		200,900

Multi-Utilities - 0.9%
Berkshire Hathaway Energy Co.
3.25%, 4/15/2028		100,000		96,876
CenterPoint Energy, Inc.
3.85%, 2/1/2024		250,000		251,941
DTE Energy Co.
3.80%, 3/15/2027		100,000		98,821


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Multi-Utilities - (continued)
Public Service Enterprise Group, Inc.
2.65%, 11/15/2022		200,000		195,749
Sempra Energy
3.25%, 6/15/2027		200,000		185,091

				828,478

Oil, Gas & Consumable Fuels - 6.0%
Anadarko Petroleum Corp.
4.85%, 3/15/2021		100,000		102,534
BP Capital Markets America, Inc.
3.25%, 5/6/2022		339,000		341,313
3.22%, 11/28/2023		350,000		350,303
3.22%, 4/14/2024		300,000		299,433
3.12%, 5/4/2026		300,000		292,238
3.02%, 1/16/2027		150,000		144,240
BP Capital Markets plc
3.28%, 9/19/2027		150,000		147,103
Canadian Natural Resources Ltd.
3.80%, 4/15/2024		250,000		251,459
Chevron Corp.
2.95%, 5/16/2026		300,000		296,275
Energy Transfer Operating LP
4.65%, 6/1/2021		200,000		204,869
Enterprise Products Operating LLC
2.85%, 4/15/2021		100,000		99,816
3.35%, 3/15/2023		180,000		180,077
3.75%, 2/15/2025		200,000		202,708
4.15%, 10/16/2028		100,000		102,139
EOG Resources, Inc.
4.15%, 1/15/2026		150,000		156,924
Exxon Mobil Corp.
2.22%, 3/1/2021		100,000		99,227
2.73%, 3/1/2023		160,000		159,756
Kinder Morgan, Inc.
4.30%, 6/1/2025		100,000		102,473
MPLX LP
3.38%, 3/15/2023		200,000		198,592
4.13%, 3/1/2027		350,000		342,825
Occidental Petroleum Corp.
2.70%, 2/15/2023		80,000		78,893
3.40%, 4/15/2026		200,000		200,282
ONEOK Partners LP
4.90%, 3/15/2025		150,000		156,112
Plains All American Pipeline LP
3.65%, 6/1/2022		250,000		247,797
4.65%, 10/15/2025		50,000		50,779
Sabine Pass Liquefaction LLC
5.63%, 2/1/2021(b)		150,000		155,313
Total Capital International SA
3.75%, 4/10/2024		180,000		186,186
TransCanada PipeLines Ltd.
2.50%, 8/1/2022		200,000		194,898
Transcontinental Gas Pipe Line Co. LLC
7.85%, 2/1/2026		150,000		183,268
Williams Cos., Inc. (The)
4.13%, 11/15/2020		100,000		101,154
3.75%, 6/15/2027		250,000		243,659

				5,872,645


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Pharmaceuticals - 2.5%
Allergan Funding SCS
3.85%, 6/15/2024		200,000		200,834
AstraZeneca plc
2.38%, 6/12/2022		400,000		389,068
3.38%, 11/16/2025		50,000		49,165
3.13%, 6/12/2027		100,000		95,062
GlaxoSmithKline Capital, Inc.
3.38%, 5/15/2023		300,000		304,526
Johnson & Johnson
2.63%, 1/15/2025		400,000		397,174
Merck & Co., Inc.
2.75%, 2/10/2025		115,000		113,104
Novartis Capital Corp.
3.10%, 5/17/2027		100,000		99,414
Pfizer, Inc.
1.95%, 6/3/2021		150,000		147,707
3.00%, 12/15/2026		100,000		98,203
Shire Acquisitions Investments Ireland DAC
2.88%, 9/23/2023		350,000		336,783
Zoetis, Inc.
3.25%, 2/1/2023		150,000		149,057
3.00%, 9/12/2027		100,000		93,608

				2,473,705

Road & Rail - 0.6%
CSX Corp.
2.60%, 11/1/2026		150,000		138,334
3.25%, 6/1/2027		100,000		96,548
Union Pacific Corp.
4.16%, 7/15/2022		100,000		103,242
3.95%, 9/10/2028		250,000		256,497

				594,621

Semiconductors & Semiconductor Equipment - 1.6%
Analog Devices, Inc.
3.50%, 12/5/2026		250,000		241,061
Broadcom Corp.
2.20%, 1/15/2021		100,000		97,601
3.00%, 1/15/2022		200,000		195,913
3.63%, 1/15/2024		200,000		194,707
Intel Corp.
2.70%, 12/15/2022		200,000		199,655
2.60%, 5/19/2026		150,000		144,116
QUALCOMM, Inc.
3.00%, 5/20/2022		200,000		199,712
3.25%, 5/20/2027		250,000		236,857

				1,509,622

Software - 2.3%
Microsoft Corp.
2.38%, 2/12/2022		400,000		397,723
2.88%, 2/6/2024		200,000		201,242
2.70%, 2/12/2025		140,000		138,795
3.13%, 11/3/2025		150,000		152,009
2.40%, 8/8/2026		100,000		95,460
Oracle Corp.
2.63%, 2/15/2023		660,000		653,338
2.95%, 5/15/2025		200,000		197,310
2.65%, 7/15/2026		200,000		190,491


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Software - (continued)
3.25%, 11/15/2027		200,000		197,348

				2,223,716

Specialty Retail - 0.9%
AutoZone, Inc.
3.70%, 4/15/2022		145,000		145,339
Home Depot, Inc. (The)
2.63%, 6/1/2022		200,000		199,529
3.00%, 4/1/2026		130,000		127,882
Lowe’s Cos., Inc.
3.38%, 9/15/2025		100,000		97,842
3.10%, 5/3/2027		300,000		283,844

				854,436

Technology Hardware, Storage & Peripherals - 1.9%
Apple, Inc.
2.50%, 2/9/2022		350,000		348,128
3.00%, 2/9/2024		225,000		226,276
3.45%, 5/6/2024		450,000		461,530
3.20%, 5/13/2025		250,000		251,806
2.90%, 9/12/2027		200,000		193,386
Hewlett Packard Enterprise Co.
4.40%, 10/15/2022(b)		200,000		207,004
Seagate HDD Cayman
4.88%, 6/1/2027		200,000		181,841

				1,869,971

Tobacco - 1.8%
Altria Group, Inc.
2.85%, 8/9/2022		160,000		156,641
4.00%, 1/31/2024		100,000		100,593
2.63%, 9/16/2026		160,000		141,977
Philip Morris International, Inc.
2.50%, 11/2/2022		300,000		290,778
2.75%, 2/25/2026		400,000		375,991
Reynolds American, Inc.
4.00%, 6/12/2022		650,000		655,379

				1,721,359

Trading Companies & Distributors - 0.5%
Air Lease Corp.
3.38%, 6/1/2021		105,000		104,148
3.00%, 9/15/2023		405,000		386,052

				490,200

TOTAL CORPORATE BONDS (Cost $95,515,051)				96,038,809

Total Investments - 98.8% (Cost $95,515,051)				96,038,809
Other Assets Less Liabilities - 1.2%				1,158,027

Net Assets - 100.0%				97,196,836

(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.


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 98.5%
Aerospace & Defense - 3.0%
Harris Corp.
5.05%, 4/27/2045		25,000		26,396
Lockheed Martin Corp.
4.70%, 5/15/2046		150,000		164,539
Northrop Grumman Corp.
4.75%, 6/1/2043		125,000		131,719
Raytheon Co.
4.88%, 10/15/2040		20,000		22,617
United Technologies Corp.
5.70%, 4/15/2040		140,000		158,284
4.50%, 6/1/2042		205,000		206,705
4.05%, 5/4/2047		115,000		107,793

				818,053

Air Freight & Logistics - 1.2%
FedEx Corp.
3.90%, 2/1/2035		100,000		91,957
5.10%, 1/15/2044		65,000		66,068
4.75%, 11/15/2045		120,000		116,660
United Parcel Service, Inc.
3.75%, 11/15/2047		50,000		46,774

				321,459

Automobiles - 0.9%
Daimler Finance North America LLC
8.50%, 1/18/2031		75,000		104,036
General Motors Co.
6.25%, 10/2/2043		150,000		146,160

				250,196

Banks - 10.8%
Bank of America Corp.
4.24%, 4/24/2038(a)		300,000		300,589
5.00%, 1/21/2044		95,000		104,700
Series L, 4.75%, 4/21/2045		140,000		144,951
4.44%, 1/20/2048(a)		105,000		107,263
Citigroup, Inc.
6.63%, 6/15/2032		250,000		298,428
8.13%, 7/15/2039		27,000		39,488
5.88%, 1/30/2042		40,000		47,752
5.30%, 5/6/2044		145,000		154,938
4.65%, 7/30/2045		105,000		108,447
4.75%, 5/18/2046		40,000		40,221
4.28%, 4/24/2048(a)		70,000		69,154
4.65%, 7/23/2048		50,000		52,195
Fifth Third Bancorp
8.25%, 3/1/2038		30,000		40,766
HSBC Holdings plc
6.10%, 1/14/2042		175,000		211,734
JPMorgan Chase & Co.
6.40%, 5/15/2038		205,000		258,317
4.95%, 6/1/2045		265,000		284,648
4.26%, 2/22/2048(a)		250,000		246,847


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Banks - (continued)
3.90%, 1/23/2049(a)		120,000		112,240
Wells Fargo & Co.
5.38%, 11/2/2043		175,000		193,853
5.61%, 1/15/2044		135,000		154,388

				2,970,919

Beverages - 0.7%
Diageo Capital plc
5.88%, 9/30/2036		50,000		60,708
PepsiCo, Inc.
3.45%, 10/6/2046		135,000		125,717

				186,425

Biotechnology - 5.2%
AbbVie, Inc.
4.50%, 5/14/2035		180,000		170,467
4.40%, 11/6/2042		170,000		153,318
4.70%, 5/14/2045		200,000		187,158
Amgen, Inc.
6.38%, 6/1/2037		20,000		23,787
5.15%, 11/15/2041		65,000		68,208
4.40%, 5/1/2045		150,000		143,049
4.66%, 6/15/2051		80,000		79,274
Biogen, Inc.
5.20%, 9/15/2045		95,000		103,137
Celgene Corp.
5.00%, 8/15/2045		200,000		202,370
Gilead Sciences, Inc.
4.75%, 3/1/2046		150,000		154,876
4.15%, 3/1/2047		160,000		152,151

				1,437,795

Building Products - 0.4%
Johnson Controls International plc
5.13%, 9/14/2045		100,000		99,446

Capital Markets - 4.4%
CME Group, Inc.
5.30%, 9/15/2043		30,000		35,416
Credit Suisse USA, Inc.
7.13%, 7/15/2032		75,000		97,850
Goldman Sachs Group, Inc. (The)
6.75%, 10/1/2037		195,000		237,868
4.02%, 10/31/2038(a)		150,000		141,103
6.25%, 2/1/2041		220,000		266,205
4.75%, 10/21/2045		115,000		119,184
Morgan Stanley
6.38%, 7/24/2042		90,000		115,543
4.30%, 1/27/2045		170,000		167,693
Raymond James Financial, Inc.
4.95%, 7/15/2046		50,000		49,672

				1,230,534

Chemicals - 1.4%
Dow Chemical Co. (The)
4.25%, 10/1/2034		100,000		93,793
Eastman Chemical Co.
4.80%, 9/1/2042		50,000		47,650


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Chemicals - (continued)
International Flavors & Fragrances, Inc.
4.38%, 6/1/2047		50,000		46,702
LYB International Finance BV
4.88%, 3/15/2044		150,000		143,851
Praxair, Inc.
3.55%, 11/7/2042		10,000		9,230
Sherwin-Williams Co. (The)
4.50%, 6/1/2047		50,000		47,183

				388,409

Communications Equipment - 0.5%
Cisco Systems, Inc.
5.90%, 2/15/2039		100,000		126,885

Diversified Financial Services - 0.5%
Shell International Finance BV
6.38%, 12/15/2038		100,000		131,384

Diversified Telecommunication Services - 9.7%
AT&T, Inc.
4.50%, 5/15/2035		50,000		47,303
5.35%, 9/1/2040		100,000		101,187
4.30%, 12/15/2042		400,000		356,891
Bell Canada, Inc.
4.46%, 4/1/2048		50,000		49,541
British Telecommunications plc
9.63%, 12/15/2030(b)		95,000		132,660
Deutsche Telekom International Finance BV
8.75%, 6/15/2030(b)		180,000		242,143
Orange SA
9.00%, 3/1/2031(b)		90,000		127,127
Telefonica Emisiones SA
4.90%, 3/6/2048		200,000		187,292
Verizon Communications, Inc.
4.27%, 1/15/2036		175,000		170,595
5.25%, 3/16/2037		230,000		247,559
4.75%, 11/1/2041		230,000		229,783
4.86%, 8/21/2046		135,000		138,205
5.50%, 3/16/2047		270,000		302,530
5.01%, 8/21/2054		350,000		357,447

				2,690,263

Electric Utilities - 3.8%
Alabama Power Co.
Series A, 4.30%, 7/15/2048		150,000		152,733
Appalachian Power Co.
7.00%, 4/1/2038		35,000		44,495
Commonwealth Edison Co.
5.90%, 3/15/2036		125,000		148,174
Duke Energy Carolinas LLC
3.95%, 3/15/2048		150,000		146,340
Duke Energy Corp.
3.95%, 8/15/2047		150,000		137,198
Exelon Corp.
5.10%, 6/15/2045		100,000		105,836
FirstEnergy Corp.
Series C, 7.38%, 11/15/2031		60,000		76,659


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Electric Utilities - (continued)
Florida Power & Light Co.
4.13%, 2/1/2042		85,000		87,587
Public Service Electric & Gas Co.
3.80%, 3/1/2046		50,000		48,086
Virginia Electric & Power Co.
Series D, 4.65%, 8/15/2043		100,000		105,042

				1,052,150

Electrical Equipment - 0.1%
Eaton Corp.
4.15%, 11/2/2042		35,000		33,802

Electronic Equipment, Instruments & Components - 0.2%
Corning, Inc.
4.75%, 3/15/2042		50,000		47,679

Energy Equipment & Services - 1.0%
Halliburton Co.
4.85%, 11/15/2035		260,000		267,708

Entertainment - 3.0%
21st Century Fox America, Inc.
6.20%, 12/15/2034		75,000		93,187
4.75%, 9/15/2044		275,000		300,920
NBCUniversal Media LLC
5.95%, 4/1/2041		115,000		136,786
4.45%, 1/15/2043		165,000		164,767
Viacom, Inc.
4.38%, 3/15/2043		150,000		128,480

				824,140

Equity Real Estate Investment Trusts (REITs) - 0.7%
ERP Operating LP
4.50%, 7/1/2044		25,000		25,747
Federal Realty Investment Trust
4.50%, 12/1/2044		30,000		30,392
Simon Property Group LP
4.75%, 3/15/2042		85,000		91,178
Weyerhaeuser Co.
7.38%, 3/15/2032		40,000		49,376

				196,693

Food & Staples Retailing - 1.4%
Sysco Corp.
4.85%, 10/1/2045		40,000		41,255
Walgreen Co.
4.40%, 9/15/2042		105,000		94,541
Walmart, Inc.
6.50%, 8/15/2037		100,000		132,128
4.05%, 6/29/2048		125,000		128,647

				396,571

Food Products - 2.1%
Archer-Daniels-Midland Co.
4.50%, 3/15/2049		50,000		52,836
Kellogg Co.
Series B, 7.45%, 4/1/2031		50,000		63,371
Kraft Heinz Foods Co.
4.38%, 6/1/2046		350,000		302,659


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Food Products - (continued)
Mead Johnson Nutrition Co.
4.60%, 6/1/2044		35,000		35,424
Tyson Foods, Inc.
4.88%, 8/15/2034		100,000		98,928
Unilever Capital Corp.
5.90%, 11/15/2032		25,000		31,024

				584,242

Gas Utilities - 0.4%
Atmos Energy Corp.
4.13%, 10/15/2044		50,000		49,233
Dominion Energy Gas Holdings LLC
4.60%, 12/15/2044		50,000		50,553

				99,786

Health Care Equipment & Supplies - 0.9%
Koninklijke Philips NV
5.00%, 3/15/2042		40,000		43,227
Medtronic, Inc.
4.38%, 3/15/2035		145,000		152,922
Stryker Corp.
4.63%, 3/15/2046		40,000		41,330

				237,479

Health Care Providers & Services - 1.9%
Aetna, Inc.
6.75%, 12/15/2037		35,000		42,354
Anthem, Inc.
4.65%, 1/15/2043		125,000		125,745
Express Scripts Holding Co.
4.80%, 7/15/2046		60,000		59,794
Humana, Inc.
4.95%, 10/1/2044		15,000		15,810
UnitedHealth Group, Inc.
4.63%, 7/15/2035		170,000		185,919
4.45%, 12/15/2048		100,000		107,514

				537,136

Hotels, Restaurants & Leisure - 1.3%
McDonald’s Corp.
6.30%, 3/1/2038		110,000		131,570
4.88%, 12/9/2045		150,000		156,339
Starbucks Corp.
3.75%, 12/1/2047		75,000		64,715

				352,624

Household Products - 0.2%
Kimberly-Clark Corp.
6.63%, 8/1/2037		50,000		65,610

Industrial Conglomerates - 0.3%
3M Co.
3.63%, 10/15/2047		50,000		47,817
Ingersoll-Rand Global Holding Co. Ltd.
5.75%, 6/15/2043		25,000		28,879

				76,696

Insurance - 3.3%
Allstate Corp. (The)
6.50%, 5/15/2057(a)		15,000		15,847
American International Group, Inc.
3.88%, 1/15/2035		130,000		117,374
4.50%, 7/16/2044		40,000		37,766


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Insurance - (continued)
Aon plc
4.60%, 6/14/2044		65,000		63,840
Berkshire Hathaway Finance Corp.
5.75%, 1/15/2040		75,000		91,838
Chubb Corp. (The)
6.00%, 5/11/2037		65,000		79,603
Manulife Financial Corp.
5.38%, 3/4/2046		35,000		38,716
Marsh & McLennan Cos., Inc.
4.35%, 1/30/2047		75,000		72,259
MetLife, Inc.
5.70%, 6/15/2035		75,000		87,718
6.40%, 12/15/2036		70,000		75,001
4.60%, 5/13/2046		55,000		57,128
Principal Financial Group, Inc.
6.05%, 10/15/2036		30,000		35,415
Prudential Financial, Inc.
3.94%, 12/7/2049		50,000		46,639
Travelers Cos., Inc. (The)
4.05%, 3/7/2048		100,000		99,122

				918,266

Internet & Direct Marketing Retail - 1.3%
Alibaba Group Holding Ltd.
4.00%, 12/6/2037		200,000		187,991
Amazon.com, Inc.
4.25%, 8/22/2057		150,000		154,778
eBay, Inc.
4.00%, 7/15/2042		40,000		30,994

				373,763

IT Services - 1.0%
Fidelity National Information Services, Inc.
4.75%, 5/15/2048		50,000		47,548
International Business Machines Corp.
5.88%, 11/29/2032		125,000		150,444
Visa, Inc.
4.30%, 12/14/2045		80,000		86,295

				284,287

Life Sciences Tools & Services - 0.2%
Thermo Fisher Scientific, Inc.
4.10%, 8/15/2047		50,000		47,892

Machinery - 0.2%
Fortive Corp.
4.30%, 6/15/2046		30,000		28,339
Illinois Tool Works, Inc.
3.90%, 9/1/2042		30,000		30,503

				58,842

Media - 3.4%
CBS Corp.
4.60%, 1/15/2045		100,000		92,488
Comcast Corp.
4.60%, 10/15/2038		500,000		517,846
3.40%, 7/15/2046		165,000		141,146
4.00%, 11/1/2049		200,000		185,582

				937,062


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Metals & Mining - 1.0%
BHP Billiton Finance USA Ltd.
5.00%, 9/30/2043		50,000		57,572
Nucor Corp.
4.40%, 5/1/2048		75,000		73,092
Rio Tinto Finance USA Ltd.
5.20%, 11/2/2040		75,000		86,803
Vale Overseas Ltd.
8.25%, 1/17/2034		50,000		61,000

				278,467

Multi-Utilities - 2.7%
Berkshire Hathaway Energy Co.
5.15%, 11/15/2043		130,000		142,912
4.50%, 2/1/2045		110,000		112,168
Consolidated Edison Co. of New York, Inc.
4.63%, 12/1/2054		131,000		131,242
4.50%, 5/15/2058		150,000		148,643
Dominion Energy, Inc.
Series B, 5.95%, 6/15/2035		155,000		175,883
Southern Co. Gas Capital Corp.
3.95%, 10/1/2046		50,000		44,710

				755,558

Oil, Gas & Consumable Fuels - 10.3%
Anadarko Petroleum Corp.
6.20%, 3/15/2040		135,000		150,173
Apache Corp.
6.00%, 1/15/2037		70,000		73,695
4.75%, 4/15/2043		100,000		89,803
Canadian Natural Resources Ltd.
6.25%, 3/15/2038		100,000		115,990
Concho Resources, Inc.
4.88%, 10/1/2047		50,000		50,836
ConocoPhillips
5.90%, 10/15/2032		240,000		286,006
Devon Energy Corp.
5.60%, 7/15/2041		100,000		101,975
Enterprise Products Operating LLC
5.95%, 2/1/2041		125,000		143,319
4.85%, 3/15/2044		150,000		154,792
5.10%, 2/15/2045		85,000		88,285
4.25%, 2/15/2048		100,000		94,661
Exxon Mobil Corp.
4.11%, 3/1/2046		75,000		78,826
Magellan Midstream Partners LP
5.15%, 10/15/2043		20,000		20,501
4.20%, 10/3/2047		80,000		73,285
Marathon Petroleum Corp.
6.50%, 3/1/2041		80,000		89,075
MPLX LP
4.50%, 4/15/2038		200,000		184,162
5.50%, 2/15/2049		50,000		51,604
Occidental Petroleum Corp.
4.63%, 6/15/2045		100,000		104,874
ONEOK Partners LP
6.13%, 2/1/2041		60,000		63,698
ONEOK, Inc.
4.95%, 7/13/2047		50,000		47,436


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Oil, Gas & Consumable Fuels - (continued)
Petro-Canada
5.95%, 5/15/2035		120,000		135,487
Phillips 66
5.88%, 5/1/2042		155,000		177,032
4.88%, 11/15/2044		50,000		51,966
Phillips 66 Partners LP
4.90%, 10/1/2046		30,000		29,297
Plains All American Pipeline LP
5.15%, 6/1/2042		100,000		91,762
Suncor Energy, Inc.
4.00%, 11/15/2047		135,000		125,630
TransCanada PipeLines Ltd.
4.63%, 3/1/2034		50,000		51,378
Valero Energy Corp.
6.63%, 6/15/2037		105,000		122,446

				2,847,994

Pharmaceuticals - 3.9%
AstraZeneca plc
6.45%, 9/15/2037		50,000		62,155
4.38%, 11/16/2045		135,000		131,828
Eli Lilly & Co.
3.70%, 3/1/2045		30,000		28,795
GlaxoSmithKline Capital, Inc.
5.38%, 4/15/2034		35,000		40,488
6.38%, 5/15/2038		50,000		63,777
Johnson & Johnson
3.63%, 3/3/2037		100,000		100,060
3.70%, 3/1/2046		120,000		117,961
Merck & Co., Inc.
3.70%, 2/10/2045		55,000		54,128
Novartis Capital Corp.
4.40%, 5/6/2044		75,000		82,274
Wyeth LLC
6.50%, 2/1/2034		240,000		313,430
Zoetis, Inc.
4.70%, 2/1/2043		90,000		91,700

				1,086,596

Road & Rail - 3.3%
Burlington Northern Santa Fe LLC
5.15%, 9/1/2043		175,000		199,075
Canadian National Railway Co.
3.20%, 8/2/2046		50,000		43,444
CSX Corp.
6.15%, 5/1/2037		160,000		191,780
4.10%, 3/15/2044		115,000		108,811
Norfolk Southern Corp.
4.84%, 10/1/2041		165,000		171,917
Union Pacific Corp.
4.05%, 3/1/2046		160,000		149,206
4.50%, 9/10/2048		50,000		51,214

				915,447

Semiconductors & Semiconductor Equipment - 1.3%
Applied Materials, Inc.
5.85%, 6/15/2041		25,000		30,144
4.35%, 4/1/2047		80,000		81,067
Intel Corp.
3.73%, 12/8/2047		100,000		96,175


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Semiconductors & Semiconductor Equipment - (continued)
QUALCOMM, Inc.
4.65%, 5/20/2035		55,000		54,594
4.80%, 5/20/2045		45,000		43,972
4.30%, 5/20/2047		55,000		50,305

				356,257

Software - 3.2%
Microsoft Corp.
3.50%, 2/12/2035		235,000		232,332
3.95%, 8/8/2056		205,000		206,317
4.50%, 2/6/2057		130,000		145,206
Oracle Corp.
4.38%, 5/15/2055		295,000		296,957

				880,812

Specialty Retail - 1.3%
Home Depot, Inc. (The)
5.88%, 12/16/2036		195,000		239,333
3.50%, 9/15/2056		55,000		47,999
Lowe’s Cos., Inc.
4.05%, 5/3/2047		95,000		85,506

				372,838

Technology Hardware, Storage & Peripherals - 1.9%
Apple, Inc.
4.65%, 2/23/2046		345,000		379,084
Hewlett Packard Enterprise Co.
6.35%, 10/15/2045(b)		100,000		102,210
HP, Inc.
6.00%, 9/15/2041		40,000		42,046

				523,340

Textiles, Apparel & Luxury Goods - 0.2%
NIKE, Inc.
3.63%, 5/1/2043		50,000		48,099

Tobacco - 2.2%
Altria Group, Inc.
4.25%, 8/9/2042		105,000		86,147
5.38%, 1/31/2044		145,000		137,300
Philip Morris International, Inc.
6.38%, 5/16/2038		130,000		153,598
4.13%, 3/4/2043		95,000		87,032
Reynolds American, Inc.
5.70%, 8/15/2035		90,000		90,680
5.85%, 8/15/2045		50,000		48,687

				603,444

Water Utilities - 0.3%
American Water Capital Corp.
4.20%, 9/1/2048		80,000		79,680

Wireless Telecommunication Services - 1.5%
America Movil SAB de CV
6.13%, 3/30/2040		150,000		181,619
Rogers Communications, Inc.
5.00%, 3/15/2044		115,000		121,677
Telefonica Europe BV
8.25%, 9/15/2030		50,000		65,357


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Wireless Telecommunication Services - (continued)
Vodafone Group plc
7.88%, 2/15/2030		30,000		37,974

				406,627

TOTAL CORPORATE BONDS (Cost $27,656,594)				27,199,355

Total Investments — 98.5% (Cost $27,656,594)				27,199,355
Other Assets Less Liabilities — 1.5%				418,640

Net Assets — 100.0%				27,617,995

(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 January 31, 2019.

Percentages shown are based on Net Assets.


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 96.5%
Aerospace & Defense - 1.1%
TransDigm UK Holdings plc
6.88%, 5/15/2026(a)		205,000		199,363
TransDigm, Inc.
6.38%, 6/15/2026		240,000		231,900

				431,263

Auto Components - 1.6%
Cooper-Standard Automotive, Inc.
5.63%, 11/15/2026(a)		80,000		72,600
Dana Financing Luxembourg Sarl
6.50%, 6/1/2026(a)		130,000		131,300
Icahn Enterprises LP
6.38%, 12/15/2025		210,000		214,987
JB Poindexter & Co., Inc.
7.13%, 4/15/2026(a)		80,000		78,000
Tenneco, Inc.
5.38%, 12/15/2024		100,000		91,000

				587,887

Automobiles - 0.5%
Fiat Chrysler Automobiles NV
5.25%, 4/15/2023		200,000		202,748

Banks - 1.8%
Intesa Sanpaolo SpA
5.02%, 6/26/2024(a)		350,000		321,537
Societe Generale SA
7.38%, 9/13/2021(a)(b)(c)		160,000		165,680
8.00%, 9/29/2025(a)(b)(c)		195,000		203,488

				690,705

Building Products - 1.2%
Griffon Corp.
5.25%, 3/1/2022		160,000		157,400
NCI Building Systems, Inc.
8.00%, 4/15/2026(a)		160,000		152,000
PGT Escrow Issuer, Inc.
6.75%, 8/1/2026(a)		80,000		81,600
Standard Industries, Inc.
4.75%, 1/15/2028(a)		80,000		72,624

				463,624

Capital Markets - 1.0%
Credit Suisse Group AG
7.50%, 7/17/2023(a)(b)(c)		270,000		275,625
Donnelley Financial Solutions, Inc.
8.25%, 10/15/2024		80,000		79,500
LPL Holdings, Inc.
5.75%, 9/15/2025(a)		30,000		29,574

				384,699

Chemicals - 2.8%
CF Industries, Inc.
5.15%, 3/15/2034		80,000		74,000


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Chemicals - (continued)
Cornerstone Chemical Co.
6.75%, 8/15/2024(a)		320,000		303,200
FXI Holdings, Inc.
7.88%, 11/1/2024(a)		160,000		151,600
Hexion, Inc.
6.63%, 4/15/2020		280,000		223,825
SPCM SA
4.88%, 9/15/2025(a)		160,000		150,800
TPC Group, Inc.
8.75%, 12/15/2020(a)		160,000		159,248

				1,062,673

Commercial Services & Supplies - 5.0%
Algeco Global Finance plc
8.00%, 2/15/2023(a)		160,000		156,400
APX Group, Inc.
7.88%, 12/1/2022		240,000		233,400
Covanta Holding Corp.
5.88%, 7/1/2025		160,000		157,400
Garda World Security Corp.
8.75%, 5/15/2025(a)		160,000		149,200
GFL Environmental, Inc.
5.38%, 3/1/2023(a)		160,000		150,400
Harland Clarke Holdings Corp.
9.25%, 3/1/2021(a)		80,000		77,800
KAR Auction Services, Inc.
5.13%, 6/1/2025(a)		130,000		125,915
Nielsen Finance LLC
5.00%, 4/15/2022(a)		190,000		190,665
Pitney Bowes, Inc.
3.88%, 10/1/2021(d)		190,000		186,675
Prime Security Services Borrower LLC
9.25%, 5/15/2023(a)		320,000		339,200
West Corp.
8.50%, 10/15/2025(a)		160,000		134,200

				1,901,255

Communications Equipment - 0.7%
CommScope, Inc.
5.50%, 6/15/2024(a)		160,000		150,200
Riverbed Technology, Inc.
8.88%, 3/1/2023(a)		130,000		95,550

				245,750

Construction & Engineering - 0.6%
Brand Industrial Services, Inc.
8.50%, 7/15/2025(a)		240,000		215,700

Consumer Finance - 1.8%
Ally Financial, Inc.
8.00%, 11/1/2031		65,000		78,325
Intrepid Aviation Group Holdings LLC
8.50%, 8/15/2021(a)		130,000		131,462
Navient Corp.
5.50%, 1/25/2023		265,000		256,719
6.75%, 6/15/2026		150,000		141,747


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Consumer Finance - (continued)
TMX Finance LLC
11.13%, 4/1/2023(a)		80,000		73,100

				681,353

Containers & Packaging - 2.0%
Berry Global, Inc.
5.13%, 7/15/2023		30,000		30,197
BWAY Holding Co.
7.25%, 4/15/2025(a)		300,000		277,875
Crown Cork & Seal Co., Inc.
7.38%, 12/15/2026		70,000		76,738
Flex Acquisition Co., Inc.
6.88%, 1/15/2025(a)		130,000		122,200
Owens-Brockway Glass Container, Inc.
5.88%, 8/15/2023(a)		75,000		77,906
Pactiv LLC
8.38%, 4/15/2027		45,000		44,888
Plastipak Holdings, Inc.
6.25%, 10/15/2025(a)		85,000		77,137
Reynolds Group Issuer, Inc.
7.00%, 7/15/2024(a)		50,000		51,219

				758,160

Distributors - 0.3%
Core & Main LP
6.13%, 8/15/2025(a)		130,000		124,475

Diversified Consumer Services - 1.1%
Laureate Education, Inc.
8.25%, 5/1/2025(a)		160,000		174,400
Midas Intermediate Holdco II LLC
7.88%, 10/1/2022(a)		80,000		74,400
ServiceMaster Co. LLC (The)
5.13%, 11/15/2024(a)		190,000		186,200

				435,000

Diversified Financial Services - 2.0%
ACE Cash Express, Inc.
12.00%, 12/15/2022(a)		70,000		65,625
Jefferies Finance LLC
7.25%, 8/15/2024(a)		160,000		153,000
Refinitiv US Holdings, Inc.
8.25%, 11/15/2026(a)		250,000		235,000
Tempo Acquisition LLC
6.75%, 6/1/2025(a)		190,000		188,575
Verscend Escrow Corp.
9.75%, 8/15/2026(a)		130,000		131,372

				773,572

Diversified Telecommunication Services - 5.2%
CCO Holdings LLC
5.88%, 4/1/2024(a)		105,000		107,913
5.75%, 2/15/2026(a)		105,000		106,837
5.13%, 5/1/2027(a)		110,000		106,559
5.00%, 2/1/2028(a)		160,000		152,400
CenturyLink, Inc.
Series T, 5.80%, 3/15/2022		265,000		266,890
Series Y, 7.50%, 4/1/2024		200,000		203,500
DKT Finance ApS
9.38%, 6/17/2023(a)		160,000		169,200


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Diversified Telecommunication Services - (continued)
Embarq Corp.
8.00%, 6/1/2036		110,000		104,500
Iridium Communications, Inc.
10.25%, 4/15/2023(a)		190,000		206,150
Sprint Capital Corp.
6.88%, 11/15/2028		320,000		318,400
Telecom Italia Capital SA
6.38%, 11/15/2033		105,000		95,865
Virgin Media Finance plc
6.00%, 10/15/2024(a)		160,000		162,648

				2,000,862

Energy Equipment & Services - 4.0%
Diamond Offshore Drilling, Inc.
7.88%, 8/15/2025		160,000		152,000
KCA Deutag UK Finance plc
9.63%, 4/1/2023(a)		160,000		121,600
KLX Energy Services Holdings, Inc.
11.50%, 11/1/2025(a)		100,000		102,000
McDermott Technology Americas, Inc.
10.63%, 5/1/2024(a)		160,000		143,800
Nabors Industries, Inc.
5.75%, 2/1/2025		100,000		87,500
Nine Energy Service, Inc.
8.75%, 11/1/2023(a)		100,000		100,750
Noble Holding International Ltd.
7.88%, 2/1/2026(a)		160,000		148,600
Rowan Cos., Inc.
7.38%, 6/15/2025		160,000		138,400
SESI LLC
7.75%, 9/15/2024		80,000		63,000
Transocean, Inc.
9.00%, 7/15/2023(a)		190,000		198,964
7.50%, 1/15/2026(a)		100,000		95,625
USA Compression Partners LP
6.88%, 4/1/2026		80,000		80,400
Weatherford International Ltd.
4.50%, 4/15/2022		160,000		102,400

				1,535,039

Entertainment - 0.6%
Netflix, Inc.
5.88%, 11/15/2028(a)		240,000		243,900

Equity Real Estate Investment Trusts (REITs) - 2.9%
CBL & Associates LP
5.25%, 12/1/2023		160,000		135,200
Equinix, Inc.
5.75%, 1/1/2025		80,000		82,900
ESH Hospitality, Inc.
5.25%, 5/1/2025(a)		160,000		158,576
GEO Group, Inc. (The)
5.88%, 10/15/2024		130,000		118,300
Iron Mountain, Inc.
5.75%, 8/15/2024		160,000		159,600
iStar, Inc.
6.00%, 4/1/2022		155,000		155,000
SBA Communications Corp.
4.00%, 10/1/2022		110,000		109,175


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Equity Real Estate Investment Trusts (REITs) - (continued)
Uniti Group LP
8.25%, 10/15/2023		195,000		181,350

				1,100,101

Food & Staples Retailing - 0.7%
Beverages & More, Inc.
11.50%, 6/15/2022(a)		80,000		60,400
Fresh Market, Inc. (The)
9.75%, 5/1/2023(a)		130,000		98,150
Rite Aid Corp.
7.70%, 2/15/2027		160,000		110,400

				268,950

Food Products - 1.8%
Chobani LLC
7.50%, 4/15/2025(a)		80,000		68,800
Dean Foods Co.
6.50%, 3/15/2023(a)		160,000		124,925
Dole Food Co., Inc.
7.25%, 6/15/2025(a)		80,000		73,200
Pilgrim’s Pride Corp.
5.88%, 9/30/2027(a)		80,000		77,400
Post Holdings, Inc.
5.50%, 3/1/2025(a)		80,000		79,500
Sigma Holdco BV
7.88%, 5/15/2026(a)		160,000		142,920
Simmons Foods, Inc.
5.75%, 11/1/2024(a)		160,000		131,600

				698,345

Gas Utilities - 1.0%
AmeriGas Partners LP
5.50%, 5/20/2025		210,000		206,850
Suburban Propane Partners LP
5.50%, 6/1/2024		160,000		158,000
Superior Plus LP
7.00%, 7/15/2026(a)		30,000		29,737

				394,587

Health Care Equipment & Supplies - 1.7%
Avantor, Inc.
9.00%, 10/1/2025(a)		210,000		216,825
Immucor, Inc.
11.13%, 2/15/2022(a)		80,000		82,000
Mallinckrodt International Finance SA
5.63%, 10/15/2023(a)		400,000		339,500

				638,325

Health Care Providers & Services - 5.4%
AHP Health Partners, Inc.
9.75%, 7/15/2026(a)		80,000		83,400
Envision Healthcare Corp.
8.75%, 10/15/2026(a)		200,000		182,875
HCA, Inc.
5.88%, 5/1/2023		200,000		212,000
7.69%, 6/15/2025		250,000		275,625
MPH Acquisition Holdings LLC
7.13%, 6/1/2024(a)		240,000		238,920
One Call Corp.
10.00%, 10/1/2024(a)		160,000		124,800
RegionalCare Hospital Partners Holdings, Inc.
8.25%, 5/1/2023(a)		160,000		169,400


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Health Care Providers & Services - (continued)
Team Health Holdings, Inc.
6.38%, 2/1/2025(a)		240,000		196,800
Tenet Healthcare Corp.
8.13%, 4/1/2022		400,000		420,000
West Street Merger Sub, Inc.
6.38%, 9/1/2025(a)		160,000		145,600

				2,049,420

Hotels, Restaurants & Leisure - 3.6%
1011778 BC ULC
5.00%, 10/15/2025(a)		160,000		154,800
24 Hour Fitness Worldwide, Inc.
8.00%, 6/1/2022(a)		80,000		79,035
Cirsa Finance International Sarl
7.88%, 12/20/2023(a)		160,000		163,180
Diamond Resorts International, Inc.
10.75%, 9/1/2024(a)		160,000		146,000
Downstream Development Authority of the Quapaw Tribe of Oklahoma
10.50%, 2/15/2023(a)		80,000		79,200
Enterprise Development Authority (The)
12.00%, 7/15/2024(a)		80,000		75,800
Golden Nugget, Inc.
6.75%, 10/15/2024(a)		240,000		240,600
IRB Holding Corp.
6.75%, 2/15/2026(a)		80,000		75,000
Mohegan Gaming & Entertainment
7.88%, 10/15/2024(a)		85,000		82,450
Viking Cruises Ltd.
6.25%, 5/15/2025(a)		160,000		160,800
Wynn Las Vegas LLC
5.50%, 3/1/2025(a)		130,000		126,913

				1,383,778

Household Durables - 1.8%
American Greetings Corp.
8.75%, 4/15/2025(a)		160,000		147,600
Brookfield Residential Properties, Inc.
6.38%, 5/15/2025(a)		160,000		151,200
Mattamy Group Corp.
6.50%, 10/1/2025(a)		160,000		149,200
Shea Homes LP
5.88%, 4/1/2023(a)		100,000		95,500
TRI Pointe Group, Inc.
5.88%, 6/15/2024		160,000		154,800

				698,300

Household Products - 0.4%
Kronos Acquisition Holdings, Inc.
9.00%, 8/15/2023(a)		160,000		136,000

Independent Power and Renewable Electricity Producers - 1.5%
Calpine Corp.
5.75%, 1/15/2025		200,000		189,000
NRG Energy, Inc.
7.25%, 5/15/2026		160,000		173,528
Talen Energy Supply LLC
10.50%, 1/15/2026(a)		240,000		223,200

				585,728


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Insurance - 2.3%
Acrisure LLC
7.00%, 11/15/2025(a)		150,000		131,250
AmWINS Group, Inc.
7.75%, 7/1/2026(a)		125,000		125,313
Ardonagh Midco 3 plc
8.63%, 7/15/2023(a)		160,000		139,200
AssuredPartners, Inc.
7.00%, 8/15/2025(a)		100,000		96,000
Fidelity & Guaranty Life Holdings, Inc.
5.50%, 5/1/2025(a)		30,000		29,025
Genworth Holdings, Inc.
4.90%, 8/15/2023		100,000		88,250
HUB International Ltd.
7.00%, 5/1/2026(a)		80,000		77,800
NFP Corp.
6.88%, 7/15/2025(a)		130,000		124,150
USIS Merger Sub, Inc.
6.88%, 5/1/2025(a)		80,000		77,000

				887,988

Interactive Media & Services - 0.9%
Rackspace Hosting, Inc.
8.63%, 11/15/2024(a)		400,000		337,000

IT Services - 1.1%
Banff Merger Sub, Inc.
9.75%, 9/1/2026(a)		240,000		229,200
Zayo Group LLC
6.00%, 4/1/2023		100,000		101,000
6.38%, 5/15/2025		100,000		98,000

				428,200

Machinery - 1.4%
Apex Tool Group LLC
9.00%, 2/15/2023(a)		80,000		72,400
Cloud Crane LLC
10.13%, 8/1/2024(a)		160,000		170,800
Novelis Corp.
6.25%, 8/15/2024(a)		160,000		161,400
Titan Acquisition Ltd.
7.75%, 4/15/2026(a)		130,000		114,075

				518,675

Marine - 0.4%
Stena AB
7.00%, 2/1/2024(a)		160,000		148,400

Media - 5.7%
CBS Radio, Inc.
7.25%, 11/1/2024(a)		85,000		80,537
DISH DBS Corp.
6.75%, 6/1/2021		210,000		214,412
5.88%, 7/15/2022		200,000		190,750
5.00%, 3/15/2023		225,000		196,594
7.75%, 7/1/2026		200,000		172,500
Lamar Media Corp.
5.38%, 1/15/2024		200,000		204,750
McGraw-Hill Global Education Holdings LLC
7.88%, 5/15/2024(a)		35,000		26,206


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Media - (continued)
MDC Partners, Inc.
6.50%, 5/1/2024(a)		160,000		146,448
Meredith Corp.
6.88%, 2/1/2026(a)		210,000		217,350
Nexstar Broadcasting, Inc.
5.63%, 8/1/2024(a)		105,000		101,850
Radiate Holdco LLC
6.63%, 2/15/2025(a)		160,000		149,200
Univision Communications, Inc.
5.13%, 5/15/2023(a)		85,000		79,688
5.13%, 2/15/2025(a)		140,000		127,925
UPC Holding BV
5.50%, 1/15/2028(a)		160,000		147,600
Ziggo BV
5.50%, 1/15/2027(a)		130,000		123,175

				2,178,985

Metals & Mining - 2.7%
Allegheny Technologies, Inc.
5.95%, 1/15/2021		160,000		162,963
Baffinland Iron Mines Corp.
8.75%, 7/15/2026(a)		100,000		99,750
Commercial Metals Co.
5.75%, 4/15/2026		30,000		28,500
FMG Resources August 2006 Pty. Ltd.
4.75%, 5/15/2022(a)		80,000		80,075
Freeport-McMoRan, Inc.
5.45%, 3/15/2043		165,000		142,725
Northwest Acquisitions ULC
7.13%, 11/1/2022(a)		55,000		54,928
SunCoke Energy Partners LP
7.50%, 6/15/2025(a)		160,000		155,600
Teck Resources Ltd.
6.00%, 8/15/2040		30,000		30,225
6.25%, 7/15/2041		30,000		31,425
United States Steel Corp.
6.88%, 8/15/2025		75,000		71,438
Warrior Met Coal, Inc.
8.00%, 11/1/2024(a)		160,000		161,840

				1,019,469

Mortgage Real Estate Investment Trusts (REITs) - 0.2%
Starwood Property Trust, Inc.
5.00%, 12/15/2021		78,000		78,975

Multiline Retail - 0.2%
Neiman Marcus Group Ltd. LLC
8.00%, 10/15/2021(a)		160,000		73,200

Oil, Gas & Consumable Fuels - 10.0%
Alliance Resource Operating Partners LP
7.50%, 5/1/2025(a)		50,000		52,125
Ascent Resources Utica Holdings LLC
10.00%, 4/1/2022(a)		109,000		117,039
Berry Petroleum Co. LLC
7.00%, 2/15/2026(a)		80,000		78,000
Calumet Specialty Products Partners LP
7.63%, 1/15/2022		80,000		75,000


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Oil, Gas & Consumable Fuels - (continued)
Chesapeake Energy Corp.
8.00%, 1/15/2025		240,000		242,698
Comstock Resources, Inc.
9.75%, 8/15/2026(a)		100,000		93,000
Covey Park Energy LLC
7.50%, 5/15/2025(a)		130,000		120,900
DCP Midstream LP
Series A, 7.38%, 12/15/2022(b)(c)		100,000		94,647
Denbury Resources, Inc.
9.00%, 5/15/2021(a)		150,000		149,250
Eclipse Resources Corp.
8.88%, 7/15/2023		160,000		145,600
Energy Transfer Operating LP
Series A, 6.25%, 2/15/2023(b)(c)		160,000		144,164
EnLink Midstream Partners LP
5.60%, 4/1/2044		50,000		43,000
Extraction Oil & Gas, Inc.
7.38%, 5/15/2024(a)		150,000		139,500
Foresight Energy LLC
11.50%, 4/1/2023(a)		80,000		69,000
Genesis Energy LP
6.75%, 8/1/2022		270,000		272,484
Gulfport Energy Corp.
6.38%, 1/15/2026		160,000		149,200
Indigo Natural Resources LLC
6.88%, 2/15/2026(a)		210,000		184,800
Jonah Energy LLC
7.25%, 10/15/2025(a)		160,000		118,800
MEG Energy Corp.
7.00%, 3/31/2024(a)		320,000		284,000
Murray Energy Corp.
11.25%, 4/15/2021(a)		80,000		47,200
NGL Energy Partners LP
7.50%, 11/1/2023		80,000		81,424
Oasis Petroleum, Inc.
6.88%, 3/15/2022		100,000		100,000
Parkland Fuel Corp.
6.00%, 4/1/2026(a)		80,000		76,800
PBF Holding Co. LLC
7.25%, 6/15/2025		160,000		160,000
Peabody Energy Corp.
6.38%, 3/31/2025(a)		75,000		72,562
Sable Permian Resources Land LLC
7.38%, 11/1/2021(a)		160,000		54,400
Sanchez Energy Corp.
7.75%, 6/15/2021		160,000		30,400
SemGroup Corp.
5.63%, 11/15/2023		160,000		149,600
Southwestern Energy Co.
6.20%, 1/23/2025(d)		160,000		156,000
Sunoco LP
4.88%, 1/15/2023		100,000		98,750
Vine Oil & Gas LP
9.75%, 4/15/2023(a)		150,000		126,000


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Oil, Gas & Consumable Fuels - (continued)
Whiting Petroleum Corp.
6.63%, 1/15/2026		100,000		98,500

				3,824,843

Paper & Forest Products - 0.2%
Clearwater Paper Corp.
5.38%, 2/1/2025(a)		80,000		74,800

Personal Products - 0.7%
Avon Products, Inc.
7.00%, 3/15/2023(d)		160,000		144,800
Revlon Consumer Products Corp.
5.75%, 2/15/2021(d)		160,000		128,800

				273,600

Pharmaceuticals - 2.0%
Bausch Health Cos., Inc.
5.88%, 5/15/2023(a)		400,000		393,000
6.13%, 4/15/2025(a)		400,000		379,000

				772,000

Real Estate Management & Development - 1.9%
Five Point Operating Co. LP
7.88%, 11/15/2025(a)		160,000		154,000
Howard Hughes Corp. (The)
5.38%, 3/15/2025(a)		160,000		159,944
Hunt Cos., Inc.
6.25%, 2/15/2026(a)		80,000		72,200
Kennedy-Wilson, Inc.
5.88%, 4/1/2024		190,000		186,732
Realogy Group LLC
4.88%, 6/1/2023(a)		160,000		145,200

				718,076

Road & Rail - 0.2%
Neovia Logistics Services LLC
8.88%, 8/1/2020(a)		80,000		70,400

Semiconductors & Semiconductor Equipment - 0.4%
Sensata Technologies UK Financing Co. plc
6.25%, 2/15/2026(a)		160,000		166,600

Software - 0.9%
Change Healthcare Holdings LLC
5.75%, 3/1/2025(a)		80,000		76,900
j2 Cloud Services LLC
6.00%, 7/15/2025(a)		130,000		130,813
Veritas US, Inc.
10.50%, 2/1/2024(a)		190,000		139,707

				347,420

Specialty Retail - 3.0%
Guitar Center Escrow Issuer, Inc.
9.50%, 10/15/2021(a)		160,000		150,600
J. Crew Brand LLC
13.00%, 9/15/2021(a)		80,000		88,800
KGA Escrow LLC
7.50%, 8/15/2023(a)		55,000		55,704
L Brands, Inc.
5.63%, 2/15/2022		190,000		193,800


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Specialty Retail - (continued)
Penske Automotive Group, Inc.
5.50%, 5/15/2026		160,000		157,000
PetSmart, Inc.
5.88%, 6/1/2025(a)		100,000		79,030
8.88%, 6/1/2025(a)		400,000		254,000
Staples, Inc.
8.50%, 9/15/2025(a)		160,000		154,400

				1,133,334

Technology Hardware, Storage & Peripherals - 0.6%
NCR Corp.
5.00%, 7/15/2022		160,000		158,048
Western Digital Corp.
4.75%, 2/15/2026		80,000		74,600

				232,648

Thrifts & Mortgage Finance - 0.8%
Ladder Capital Finance Holdings LLLP
5.25%, 10/1/2025(a)		145,000		134,850
Provident Funding Associates LP
6.38%, 6/15/2025(a)		30,000		26,625
Quicken Loans, Inc.
5.75%, 5/1/2025(a)		160,000		155,200

				316,675

Tobacco - 0.4%
Vector Group Ltd.
6.13%, 2/1/2025(a)		160,000		141,000

Trading Companies & Distributors - 0.6%
Ahern Rentals, Inc.
7.38%, 5/15/2023(a)		130,000		113,750
Fortress Transportation & Infrastructure Investors LLC
6.75%, 3/15/2022(a)		100,000		100,686

				214,436

Wireless Telecommunication Services - 5.8%
C&W Senior Financing DAC
7.50%, 10/15/2026(a)		200,000		199,062
Hughes Satellite Systems Corp.
6.63%, 8/1/2026		200,000		193,000
Intelsat Connect Finance SA
9.50%, 2/15/2023(a)		720,000		676,800
Sprint Communications, Inc.
11.50%, 11/15/2021		500,000		581,875
T-Mobile USA, Inc.
6.50%, 1/15/2026		320,000		339,200
Wind Tre SpA
5.00%, 1/20/2026(a)		285,000		235,809

				2,225,746

TOTAL CORPORATE BONDS (Cost $38,724,522)				36,874,669

Total Investments - 96.5% (Cost $38,724,522)				36,874,669
Other Assets Less Liabilities - 3.5%				1,331,456

Net Assets - 100.0%				38,206,125


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - 86.8%
Aerospace & Defense - 1.8%
Boeing Co. (The)
8.75%, 8/15/2021		827,000		946,197
Lockheed Martin Corp.
4.25%, 11/15/2019		534,000		540,663
Northrop Grumman Corp.
3.50%, 3/15/2021		204,000		206,022
Rockwell Collins, Inc.
1.95%, 7/15/2019		1,726,000		1,718,984
Spirit AeroSystems, Inc. (ICE LIBOR USD 3 Month + 0.80%), 3.59%, 6/15/2021(a)		711,000		707,218
United Technologies Corp. (ICE LIBOR USD 3 Month + 0.35%), 2.89%, 11/1/2019(a)		466,000		466,645

				4,585,729

Air Freight & Logistics - 0.6%
FedEx Corp.
2.30%, 2/1/2020		878,000		872,228
United Parcel Service, Inc.
5.13%, 4/1/2019		425,000		426,693
(ICE LIBOR USD 3 Month + 0.38%), 3.01%, 5/16/2022(a)		274,000		273,859

				1,572,780

Airlines - 0.2%
Southwest Airlines Co.
2.65%, 11/5/2020		560,000		556,982

Automobile Manufacturers - 3.5%
Daimler Finance North America LLC
(ICE LIBOR USD 3 Month + 0.39%), 2.97%, 5/4/2020(a)(b)		1,500,000		1,492,245
(ICE LIBOR USD 3 Month + 0.53%), 3.11%, 5/5/2020(a)(b)		92,000		91,749
(ICE LIBOR USD 3 Month + 0.45%), 3.13%, 2/22/2021(a)(b)		1,650,000		1,636,513
Nissan Motor Acceptance Corp.
2.35%, 3/4/2019(b)		951,000		950,548
(ICE LIBOR USD 3 Month + 0.63%), 3.42%, 9/21/2021(a)(b)		762,000		752,497
Volkswagen Group of America Finance LLC
2.13%, 5/23/2019(b)		500,000		498,527


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Automobile Manufacturers - (continued)
(ICE LIBOR USD 3 Month + 0.77%), 3.39%, 11/13/2020(a)(b)		3,500,000		3,499,653

				8,921,732

Automotive Retail - 0.4%
AutoZone, Inc.
1.63%, 4/21/2019		1,075,000		1,072,342

Biotechnology - 2.7%
Amgen, Inc. (ICE LIBOR USD 3 Month + 0.32%), 2.93%, 5/10/2019(a)		792,000		792,477
2.20%, 5/22/2019		1,346,000		1,343,487
Gilead Sciences, Inc. (ICE LIBOR USD 3 Month + 0.22%), 3.01%, 3/20/2019(a)		307,000		307,153
2.05%, 4/1/2019		158,000		157,873
1.85%, 9/20/2019		342,000		340,163
(ICE LIBOR USD 3 Month + 0.25%), 3.04%, 9/20/2019(a)		82,000		82,004
2.35%, 2/1/2020		3,730,000		3,711,987

				6,735,144

Broadcasting - 0.2%
Fox Corp.
3.67%, 1/25/2022(b)		400,000		404,219

Cable & Satellite - 0.5%
Comcast Corp.
5.15%, 3/1/2020		1,150,000		1,178,692

Communications Equipment - 0.3%
Cisco Systems, Inc. (ICE LIBOR USD 3 Month + 0.50%), 3.24%, 3/1/2019(a)		647,000		647,330

Consumer Finance - 8.1%
American Express Co. (ICE LIBOR USD 3 Month + 0.53%), 3.17%, 5/17/2021(a)		62,000		61,963
American Express Credit Corp. (ICE LIBOR USD 3 Month + 0.49%), 3.11%, 8/15/2019(a)		414,000		414,648
(ICE LIBOR USD 3 Month + 0.43%), 3.17%, 3/3/2020(a)		913,000		914,609
2.38%, 5/26/2020		10,000		9,945


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Consumer Finance - (continued)
(ICE LIBOR USD 3 Month + 0.73%), 3.42%, 5/26/2020(a)		975,000		980,636
Series F, (ICE LIBOR USD 3 Month + 1.05%), 3.83%, 9/14/2020(a)		750,000		757,954
American Honda Finance Corp.
2.00%, 11/13/2019		1,150,000		1,143,623
(ICE LIBOR USD 3 Month + 0.34%), 2.95%, 2/14/2020(a)		527,000		527,880
(ICE LIBOR USD 3 Month + 0.26%), 3.05%, 6/16/2020(a)		302,000		301,937
(ICE LIBOR USD 3 Month + 0.27%), 3.03%, 7/20/2020(a)		209,000		209,102
Capital One Financial Corp. (ICE LIBOR USD 3 Month + 0.95%), 3.72%, 3/9/2022(a)		235,000		233,344
Caterpillar Financial Services Corp.
1.90%, 3/22/2019		660,000		659,479
(ICE LIBOR USD 3 Month + 0.28%), 3.05%, 9/7/2021(a)		2,091,000		2,078,127
Ford Motor Credit Co. LLC
Series 1, (ICE LIBOR USD 3 Month + 0.83%), 3.61%, 3/12/2019(a)		1,205,000		1,205,223
1.90%, 8/12/2019		250,000		248,000
General Motors Financial Co., Inc.
2.45%, 11/6/2020		751,000		738,473
HSBC USA, Inc.
2.38%, 11/13/2019		897,000		893,904
John Deere Capital Corp.
1.95%, 3/4/2019		363,000		362,806
(ICE LIBOR USD 3 Month + 0.18%), 2.98%, 1/7/2020(a)		532,000		532,460
(ICE LIBOR USD 3 Month + 0.30%), 3.08%, 3/13/2020(a)		228,000		228,217
(ICE LIBOR USD 3 Month + 0.29%), 3.11%, 6/22/2020(a)		596,000		597,284
(ICE LIBOR USD 3 Month + 0.17%), 2.97%, 10/9/2020(a)		690,000		687,689
(ICE LIBOR USD 3 Month + 0.26%), 3.03%, 9/10/2021(a)		1,554,000		1,548,679
PACCAR Financial Corp.
(ICE LIBOR USD 3 Month + 0.26%), 2.88%, 5/10/2021(a)		1,664,000		1,658,429


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Consumer Finance - (continued)
Toyota Motor Credit Corp.
(ICE LIBOR USD 3 Month + 0.10%), 2.88%, 1/10/2020(a)		744,000		744,191
(ICE LIBOR USD 3 Month + 0.26%), 3.03%, 4/17/2020(a)		776,000		777,127
(ICE LIBOR USD 3 Month + 0.17%), 2.97%, 9/18/2020(a)		2,000,000		2,000,130

				20,515,859

Distillers & Vintners - 0.1%
Diageo Capital plc (ICE LIBOR USD 3 Month + 0.24%), 2.88%, 5/18/2020(a)		300,000		299,664

Diversified Banks - 24.1%
ABN AMRO Bank NV (ICE LIBOR USD 3 Month + 0.57%), 3.26%, 8/27/2021(a)(b)		1,100,000		1,098,669
Bank of America Corp.
Series L, 2.65%, 4/1/2019		266,000		266,007
(ICE LIBOR USD 3 Month + 0.38%), 3.15%, 1/23/2022(a)		1,742,000		1,728,616
Bank of Montreal
1.75%, 9/11/2019		1,785,000		1,774,751
Bank of Nova Scotia (The)
1.65%, 6/14/2019		2,581,000		2,570,934
(ICE LIBOR USD 3 Month + 0.29%), 3.09%, 1/8/2021(a)		670,000		669,221
(ICE LIBOR USD 3 Month + 0.42%), 3.17%, 1/25/2021(a)		1,000,000		999,712
Banque Federative du Credit Mutuel SA (ICE LIBOR USD 3 Month + 0.96%), 3.72%, 7/20/2023(a)(b)		2,000,000		1,993,957
Barclays Bank plc (ICE LIBOR USD 3 Month + 0.65%), 3.24%, 8/7/2020(a)		144,000		143,719
Canadian Imperial Bank of Commerce (ICE LIBOR USD 3 Month + 0.72%), 3.51%, 6/16/2022(a)		1,109,000		1,111,597
Citibank NA (ICE LIBOR USD 3 Month + 0.57%), 3.34%, 7/23/2021(a)		900,000		899,977
Citigroup, Inc. (ICE LIBOR USD 3 Month + 0.93%), 3.70%, 6/7/2019(a)		1,538,000		1,542,554


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Diversified Banks - (continued)
2.50%, 7/29/2019		1,766,000		1,763,154
2.65%, 10/26/2020		560,000		556,111
(ICE LIBOR USD 3 Month + 0.96%), 3.73%, 4/25/2022(a)		35,000		35,123
Commonwealth Bank of Australia
2.25%, 3/13/2019		440,000		439,870
2.05%, 3/15/2019		3,000,000		2,997,442
2.30%, 9/6/2019		300,000		299,206
Cooperatieve Rabobank UA (ICE LIBOR USD 3 Month + 0.43%), 3.19%, 4/26/2021(a)		520,000		520,577
(ICE LIBOR USD 3 Month + 0.86%), 3.68%, 9/26/2023(a)(b)		1,000,000		989,884
Credit Agricole SA (ICE LIBOR USD 3 Month + 1.02%), 3.80%, 4/24/2023(a)(b)		100,000		98,976
DBS Group Holdings Ltd. (ICE LIBOR USD 3 Month + 0.49%), 3.26%, 6/8/2020(a)(b)		100,000		100,086
Fifth Third Bank
2.30%, 3/15/2019		300,000		299,865
2.38%, 4/25/2019		1,235,000		1,234,062
(ICE LIBOR USD 3 Month + 0.59%), 3.41%, 9/27/2019(a)		200,000		200,579
(ICE LIBOR USD 3 Month + 0.25%), 3.00%, 10/30/2020(a)		1,500,000		1,492,815
HSBC Holdings plc (ICE LIBOR USD 3 Month + 0.60%), 3.24%, 5/18/2021(a)		1,605,000		1,601,985
(ICE LIBOR USD 3 Month + 0.65%), 3.43%, 9/11/2021(a)		2,000,000		1,999,030
ING Groep NV (ICE LIBOR USD 3 Month + 1.00%), 3.80%, 10/2/2023(a)		1,350,000		1,333,805
JPMorgan Chase & Co. (ICE LIBOR USD 3 Month + 0.68%), 3.42%, 6/1/2021(a)		504,000		505,407
KeyBank NA
2.35%, 3/8/2019		1,450,000		1,449,832
1.60%, 8/22/2019		1,825,000		1,814,510
Lloyds Bank plc (ICE LIBOR USD 3 Month + 0.49%), 3.08%, 5/7/2021(a)		1,038,000		1,032,429


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Diversified Banks - (continued)
Mitsubishi UFJ Financial Group, Inc. (ICE LIBOR USD 3 Month + 0.65%), 3.41%, 7/26/2021(a)		695,000		695,245
(ICE LIBOR USD 3 Month + 0.86%), 3.62%, 7/26/2023(a)		230,000		229,238
National Australia Bank Ltd.
1.38%, 7/12/2019		250,000		248,619
2.25%, 1/10/2020		1,000,000		995,044
(ICE LIBOR USD 3 Month + 0.71%), 3.45%, 11/4/2021(a)(b)		2,000,000		2,007,911
Nordea Bank AB (ICE LIBOR USD 3 Month + 0.94%), 3.65%, 8/30/2023(a)(b)		600,000		590,636
Royal Bank of Canada (ICE LIBOR USD 3 Month + 0.38%), 3.12%, 3/2/2020(a)		2,854,000		2,860,454
Santander UK plc
2.35%, 9/10/2019		596,000		593,972
(ICE LIBOR USD 3 Month + 0.62%), 3.36%, 6/1/2021(a)		1,900,000		1,894,149
Skandinaviska Enskilda Banken AB (ICE LIBOR USD 3 Month + 0.43%), 3.07%, 5/17/2021(a)(b)		1,110,000		1,107,515
Sumitomo Mitsui Banking Corp.
2.45%, 1/16/2020		1,300,000		1,294,894
Sumitomo Mitsui Financial Group, Inc. (ICE LIBOR USD 3 Month + 0.86%), 3.62%, 7/19/2023(a)		1,596,000		1,593,020
Svenska Handelsbanken AB (ICE LIBOR USD 3 Month + 0.47%), 3.16%, 5/24/2021(a)		2,250,000		2,253,550
Toronto-Dominion Bank (The) (ICE LIBOR USD 3 Month + 0.26%), 3.05%, 9/17/2020(a)		251,000		251,243
US Bank NA
1.40%, 4/26/2019		250,000		249,313
(ICE LIBOR USD 3 Month + 0.13%), 2.90%, 1/17/2020(a)		750,000		750,491
2.35%, 1/23/2020		1,375,000		1,369,524
2.00%, 1/24/2020		740,000		734,348
(ICE LIBOR USD 3 Month + 0.31%), 3.05%, 2/4/2021(a)		1,500,000		1,500,838
Wells Fargo & Co.
Series N, 2.15%, 1/30/2020		12,000		11,920


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Diversified Banks - (continued)
Wells Fargo Bank NA
2.40%, 1/15/2020		650,000		647,547
(SOFRRATE + 0.48%), 2.87%, 3/25/2020(a)		500,000		499,091
(ICE LIBOR USD 3 Month + 0.50%), 3.27%, 7/23/2021(a)		2,400,000		2,399,312
Westpac Banking Corp.
1.65%, 5/13/2019		229,000		228,309
(ICE LIBOR USD 3 Month + 0.43%), 3.17%, 3/6/2020(a)		273,000		273,791
(ICE LIBOR USD 3 Month + 0.28%), 2.90%, 5/15/2020(a)		194,000		194,084

				61,038,520

Diversified Capital Markets - 0.4%
Credit Suisse AG
2.30%, 5/28/2019		1,000,000		998,663

Diversified Chemicals - 0.6%
DowDuPont, Inc. (ICE LIBOR USD 3 Month + 0.71%), 3.42%, 11/15/2020(a)		1,222,000		1,228,741
Eastman Chemical Co.
2.70%, 1/15/2020		107,000		106,677
EI du Pont de Nemours & Co. (ICE LIBOR USD 3 Month + 0.53%), 3.07%, 5/1/2020(a)		88,000		88,265

				1,423,683

Drug Retail - 0.6%
Walgreens Boots Alliance, Inc.
2.70%, 11/18/2019		1,541,000		1,539,590

Electric Utilities - 0.7%
Duke Energy Corp.
5.05%, 9/15/2019		1,232,000		1,247,098
Southern Co. (The)
1.85%, 7/1/2019		629,000		625,691

				1,872,789

Environmental & Facilities Services - 1.2%
Republic Services, Inc.
5.50%, 9/15/2019		2,874,000		2,917,485

Fertilizers & Agricultural Chemicals - 0.6%
Nutrien Ltd.
6.50%, 5/15/2019		1,539,000		1,553,470

Financial Exchanges & Data - 0.5%
Nasdaq, Inc. (ICE LIBOR USD 3 Month + 0.39%), 3.21%, 3/22/2019(a)		268,000		267,963
5.55%, 1/15/2020		1,066,000		1,091,108

				1,359,071


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Food Distributors - 0.3%
Sysco Corp.
2.60%, 10/1/2020		878,000		873,073

General Merchandise Stores - 0.0%(c)
Dollar Tree, Inc. (ICE LIBOR USD 3 Month + 0.70%), 3.47%, 4/17/2020(a)		120,000		119,535

Health Care Distributors - 1.6%
Cardinal Health, Inc.
1.95%, 6/14/2019		1,272,000		1,268,235
McKesson Corp.
2.28%, 3/15/2019		2,045,000		2,044,246
3.65%, 11/30/2020		762,000		767,424

				4,079,905

Health Care Services - 1.8%
Cigna Corp.
3.20%, 9/17/2020(b)		1,380,000		1,382,500
(ICE LIBOR USD 3 Month + 0.89%), 3.68%, 7/15/2023(a)(b)		848,000		837,565
CVS Health Corp. (ICE LIBOR USD 3 Month + 0.63%), 3.40%, 3/9/2020(a)		971,000		973,169
3.35%, 3/9/2021		1,245,000		1,251,077

				4,444,311

Home Improvement Retail - 0.7%
Home Depot, Inc. (The)
2.00%, 6/15/2019		388,000		386,947
(ICE LIBOR USD 3 Month + 0.15%), 2.90%, 6/5/2020(a)		762,000		761,783
Lowe’s Cos., Inc. (ICE LIBOR USD 3 Month + 0.42%), 3.19%, 9/10/2019(a)		593,000		593,429

				1,742,159

Homebuilding - 0.2%
DR Horton, Inc.
3.75%, 3/1/2019		161,000		160,972
2.55%, 12/1/2020		428,000		420,890

				581,862

Hotels, Resorts & Cruise Lines - 1.7%
Marriott International, Inc.
3.00%, 3/1/2019		2,286,000		2,285,933
Series Y, (ICE LIBOR USD 3 Month + 0.60%), 3.23%, 12/1/2020(a)		111,000		110,775
Series N, 3.13%, 10/15/2021		2,000,000		1,989,350

				4,386,058

Household Products - 1.0%
Church & Dwight Co., Inc.
2.45%, 12/15/2019		410,000		408,035


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Household Products - (continued)
Kimberly-Clark Corp.
1.90%, 5/22/2019		465,000		463,817
Procter & Gamble Co. (The)
1.90%, 11/1/2019		1,718,000		1,704,437

				2,576,289

Industrial Conglomerates - 1.1%
General Electric Co.
2.20%, 1/9/2020		500,000		495,508
5.55%, 5/4/2020		1,000,000		1,022,543
Honeywell International, Inc.
1.40%, 10/30/2019		789,000		781,488
(ICE LIBOR USD 3 Month + 0.28%), 3.03%, 10/30/2019(a)		388,000		388,623

				2,688,162

Industrial Machinery - 1.0%
Illinois Tool Works, Inc.
6.25%, 4/1/2019		2,626,000		2,640,931

Integrated Oil & Gas - 0.1%
Enterprise Products Operating LLC
5.25%, 1/31/2020		341,000		348,308

Integrated Telecommunication Services - 3.4%
AT&T, Inc.
2.30%, 3/11/2019		158,000		157,960
(ICE LIBOR USD 3 Month + 0.65%), 3.44%, 1/15/2020(a)		1,078,000		1,082,162
(ICE LIBOR USD 3 Month + 0.95%), 3.74%, 7/15/2021(a)		2,286,000		2,296,137
British Telecommunications plc
2.35%, 2/14/2019		600,000		599,877
Orange SA
2.75%, 2/6/2019		1,702,000		1,701,962
1.63%, 11/3/2019		1,271,000		1,258,420
Verizon Communications, Inc. (ICE LIBOR USD 3 Month + 0.55%), 3.20%, 5/22/2020(a)		1,414,000		1,418,880

				8,515,398

Interactive Media & Services - 0.2%
Tencent Holdings Ltd. (ICE LIBOR USD 3 Month + 0.61%), 3.37%, 1/19/2023(a)(b)		455,000		450,901

Internet & Direct Marketing Retail - 0.5%
eBay, Inc.
2.20%, 8/1/2019		1,244,000		1,239,827

Investment Banking & Brokerage - 2.5%
Charles Schwab Corp. (The) (ICE LIBOR USD 3 Month + 0.32%), 2.97%, 5/21/2021(a)		515,000		514,058


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Investment Banking & Brokerage - (continued)
Goldman Sachs Bank USA
3.20%, 6/5/2020		108,000		108,370
Goldman Sachs Group, Inc. (The)
7.50%, 2/15/2019		1,089,000		1,090,522
1.95%, 7/23/2019		292,000		290,873
2.55%, 10/23/2019		690,000		688,419
(ICE LIBOR USD 3 Month + 1.16%), 3.93%, 4/23/2020(a)		1,000,000		1,007,013
Macquarie Bank Ltd.
2.40%, 1/21/2020(b)		500,000		497,336
Morgan Stanley
2.38%, 7/23/2019		358,000		357,409
5.63%, 9/23/2019		1,280,000		1,302,301
5.50%, 1/26/2020		430,000		442,496
(ICE LIBOR USD 3 Month + 0.55%), 3.17%, 2/10/2021(a)		104,000		103,954

				6,402,751

Life & Health Insurance - 0.8%
Jackson National Life Global Funding (ICE LIBOR USD 3 Month + 0.30%), 3.09%, 10/15/2020(a)(b)		1,145,000		1,141,531
(ICE LIBOR USD 3 Month + 0.48%), 3.25%, 6/11/2021(a)(b)		500,000		498,591
Prudential Financial, Inc.
7.38%, 6/15/2019		255,000		258,877

				1,898,999

Movies & Entertainment - 0.4%
NBCUniversal Enterprise, Inc.
1.97%, 4/15/2019(b)		1,000,000		998,487

Multi-line Insurance - 0.8%
American International Group, Inc.
2.30%, 7/16/2019		25,000		24,941
New York Life Global Funding (ICE LIBOR USD 3 Month + 0.28%), 1.00%, 1/28/2021(a)(b)		2,000,000		1,999,807

				2,024,748

Multi-Sector Holdings - 0.1%
Berkshire Hathaway, Inc.
2.10%, 8/14/2019		174,000		173,319

Oil & Gas Equipment & Services - 0.0%(c)
Schlumberger Finance Canada Ltd.
2.20%, 11/20/2020(b)		25,000		24,566

Oil & Gas Refining & Marketing - 0.9%
BP Capital Markets plc
4.75%, 3/10/2019		1,901,000		1,905,061
1.68%, 5/3/2019		327,000		326,160

				2,231,221


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Other Diversified Financial Services - 1.6%
JPMorgan Chase Bank NA
(SOFRRATE + 0.55%), 2.94%, 10/19/2020(a)		3,000,000		2,999,131
(ICE LIBOR USD 3 Month + 0.29%), 2.83%, 2/1/2021(a)		1,105,000		1,104,020
Siemens Financieringsmaatschappij NV (ICE LIBOR USD 3 Month + 0.34%), 3.13%, 3/16/2020(a)(b)		45,000		45,039

				4,148,190

Packaged Foods & Meats - 4.7%
Danone SA
1.69%, 10/30/2019(b)		1,985,000		1,964,711
General Mills, Inc.
5.65%, 2/15/2019		1,298,000		1,299,126
JM Smucker Co. (The)
2.20%, 12/6/2019		2,337,000		2,324,727
Mondelez International Holdings Netherlands BV
1.63%, 10/28/2019(b)		1,724,000		1,706,623
Mondelez International, Inc. (ICE LIBOR USD 3 Month + 0.52%), 3.06%, 2/1/2019(a)		1,024,000		1,024,000
Tyson Foods, Inc.
2.65%, 8/15/2019		716,000		714,920
(ICE LIBOR USD 3 Month + 0.55%), 3.29%, 6/2/2020(a)		1,717,000		1,711,498
2.25%, 8/23/2021		1,210,000		1,179,936

				11,925,541

Pharmaceuticals - 3.5%
AstraZeneca plc (ICE LIBOR USD 3 Month + 0.67%), 3.31%, 8/17/2023(a)		2,142,000		2,097,213
Bayer US Finance II LLC (ICE LIBOR USD 3 Month + 0.63%), 3.45%, 6/25/2021(a)(b)		2,530,000		2,504,231
Bristol-Myers Squibb Co.
1.60%, 2/27/2019		1,538,000		1,537,519
GlaxoSmithKline Capital plc (ICE LIBOR USD 3 Month + 0.35%), 2.96%, 5/14/2021(a)		240,000		239,296
Pfizer, Inc. (ICE LIBOR USD 3 Month + 0.33%), 3.12%, 9/15/2023(a)		1,404,000		1,386,572
Roche Holdings, Inc. (ICE LIBOR USD 3 Month + 0.34%), 3.14%, 9/30/2019(a)(b)		250,000		250,242


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Pharmaceuticals - (continued)
Shire Acquisitions Investments Ireland DAC
1.90%, 9/23/2019		762,000		756,190

				8,771,263

Property & Casualty Insurance - 0.5%
Allstate Corp. (The)
7.45%, 5/16/2019		209,000		211,640
(ICE LIBOR USD 3 Month + 0.43%), 3.23%, 3/29/2021(a)		990,000		984,352

				1,195,992

Railroads - 1.4%
Burlington Northern Santa Fe LLC
4.70%, 10/1/2019		194,000		196,362
Canadian Pacific Railway Co.
7.25%, 5/15/2019		3,257,000		3,296,735

				3,493,097

Regional Banks - 4.9%
BB&T Corp.
2.25%, 2/1/2019		1,294,000		1,294,000
Branch Banking & Trust Co.
1.45%, 5/10/2019		895,000		892,116
2.10%, 1/15/2020		1,000,000		993,385
Capital One NA
1.85%, 9/13/2019		250,000		248,482
2.35%, 1/31/2020		600,000		596,334
Citizens Bank NA
2.45%, 12/4/2019		2,921,000		2,909,383
Fifth Third Bancorp
2.30%, 3/1/2019		103,000		102,970
PNC Bank NA
1.95%, 3/4/2019		825,000		824,497
2.25%, 7/2/2019		2,500,000		2,495,833
1.45%, 7/29/2019		267,000		265,415
2.40%, 10/18/2019		850,000		847,716
(ICE LIBOR USD 3 Month + 0.36%), 3.00%, 5/19/2020(a)		900,000		901,305

				12,371,436

Restaurants - 0.1%
McDonald’s Corp.
5.00%, 2/1/2019		343,000		343,000

Soft Drinks - 0.2%
PepsiCo, Inc.
1.50%, 2/22/2019		413,000		412,602

Specialized Finance - 1.0%
Shell International Finance BV (ICE LIBOR USD 3 Month + 0.40%), 3.02%, 11/13/2023(a)		2,444,000		2,424,104

Specialized REITs - 0.2%
Weyerhaeuser Co., REIT
7.38%, 10/1/2019		460,000		472,911


Investments	Principal Amount ($)		Value ($)
CORPORATE BONDS - (continued)
Systems Software - 0.4%
Oracle Corp.
2.25%, 10/8/2019		1,100,000		1,097,329

Technology Hardware, Storage & Peripherals - 0.6%
Apple, Inc.
1.80%, 11/13/2019		1,452,000		1,442,484

Trading Companies & Distributors - 0.7%
Aviation Capital Group LLC (ICE LIBOR USD 3 Month + 0.67%), 3.42%, 7/30/2021(a)(b)		1,150,000		1,142,439
GATX Corp.
2.50%, 7/30/2019		500,000		498,453

				1,640,892

Trucking - 0.8%
Penske Truck Leasing Co. LP
3.05%, 1/9/2020(b)		445,000		444,233
3.65%, 7/29/2021(b)		600,000		603,799
Ryder System, Inc.
2.35%, 2/26/2019		328,000		327,861
2.55%, 6/1/2019		531,000		530,224
2.45%, 9/3/2019		92,000		91,712

				1,997,829

TOTAL CORPORATE BONDS (Cost $219,499,574)				219,371,224

ASSET-BACKED SECURITIES - 8.2%
American Express Credit Account Master Trust Series 2017-6, Class A, 2.04%, 5/15/2023		1,000,000		988,702
Series 2017-2, Class A, 2.96%, 9/16/2024(d)		2,000,000		2,011,385
Americredit Automobile Receivables Trust Series 2018-1, Class A2A, 2.71%, 7/19/2021		486,614		486,044
Carmax Auto Owner Trust Series 2019-1, Class A2A, 3.02%, 7/15/2022		500,000		500,678
CarMax Auto Owner Trust Series 2018-3, Class A2A, 2.88%, 10/15/2021		2,000,000		1,999,720
CNH Equipment Trust Series 2018-A, Class A2, 2.78%, 8/16/2021		919,600		919,526
Drive Auto Receivables Trust Series 2018-3, Class A2, 2.75%, 10/15/2020		770,139		769,923
Series 2019-1, Class A2A, 3.08%, 9/15/2021		750,000		750,016
GM Financial Automobile Leasing Trust Series 2018-3, Class A2A, 2.89%, 9/21/2020		500,000		499,769


Investments	Principal Amount ($)		Value ($)
ASSET-BACKED SECURITIES - (continued)
GM Financial Consumer Automobile Receivables Trust Series 2018-3, Class A2A, 2.74%, 7/16/2021		1,779,352		1,777,432
Series 2019-1, Class A2, 2.99%, 3/16/2022		2,300,000		2,302,061
Honda Auto Receivables Owner Trust Series 2018-2, Class A2, 2.66%, 12/18/2020		2,759,000		2,755,345
Hyundai Auto Receivables Trust Series 2017-A, Class A3, 1.76%, 8/16/2021		1,274,714		1,266,692
Santander Drive Auto Receivables Trust Series 2018-4, Class A2, 2.73%, 3/15/2021		967,161		966,009
Volkswagen Auto Loan Enhanced Trust Series 2018-1, Class A2A, 2.81%, 7/20/2021		1,000,000		999,331
World Financial Network Credit Card Master Trust Series 2012-A, Class A, 3.14%, 1/17/2023		1,651,000		1,651,307

TOTAL ASSET-BACKED SECURITIES (Cost $20,644,196)				20,643,940

U.S. TREASURY OBLIGATIONS - 0.8%
U.S. Treasury Notes 1.50%, 11/30/2019 (Cost $1,980,860)		2,000,000		1,982,969

COLLATERALIZED MORTGAGE OBLIGATIONS - 0.5%
Holmes Master Issuer plc Series 2018-1A, Class A2, 3.15%, 10/15/2054(b)(d)		400,000		399,124
Silverstone Master Issuer plc Series 2018-1A, Class 1A, 3.17%, 1/21/2070(b)(d)		880,000		875,309

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $1,280,000)				1,274,433

SHORT-TERM INVESTMENTS - 5.7%
COMMERCIAL PAPER - 3.2%
AstraZeneca plc
3.10%, 7/24/2019(e)(f)		1,000,000		986,191
Swedbank AB
2.62%, 6/6/2019(f)		5,000,000		4,954,728
Walgreens Boots Alliance, Inc.
3.16%, 6/10/2019(e)(f)		800,000		791,050


Investments	Principal Amount ($)		Value ($)
COMMERCIAL PAPER - (continued)
White Plains Capital Co. LLC
3.09%, 5/17/2019(e)(f)		1,500,000		1,486,759

TOTAL COMMERCIAL PAPER (Cost $8,217,916)				8,218,728

U.S. GOVERNMENT AGENCY SECURITIES - 1.6%
FHLB Discount Notes 2.26%, 2/1/2019(f) (Cost $4,000,000)		4,000,000		4,000,000

U.S. TREASURY OBLIGATIONS - 0.9%
U.S. Treasury Bills 2.39%, 3/26/2019(f) (Cost $2,291,945)		2,300,000		2,292,051

TOTAL SHORT-TERM INVESTMENTS (Cost $14,509,861)				14,510,779

Total Investments - 102.0% (Cost $257,914,491)				257,783,345
Liabilities in excess of other assets - (2.0%)				(4,966,964	)

Net Assets - 100.0%				252,816,381

(a)	Variable or floating rate security, linked to the referenced benchmark. The interest rate shown is the rate in effect as of January 31, 2019.

(b)

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

(d)	Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of January 31, 2019.

(e)	Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration normally to qualified institutional buyers.

(f)	The rate shown was the current yield as of January 31, 2019.

Percentages shown are based on Net Assets.


Abbreviations

FHLB		Federal Home Loan Bank
ICE		Intercontinental Exchange
LIBOR		London Interbank Offered Rate
REIT		Real Estate Investment Trust
SOFRRATE		Secured Overnight Financing Rate
USD		US Dollar

FlexShares^® Ready Access Variable Income Fund invested, as a percentage of net assets, in companies domiciled in the following countries as of January 31, 2019:


Investments	Shares		Value ($)
EXCHANGE TRADED FUNDS - 99.3%
FlexShares^® Credit-Scored US Corporate Bond Index Fund(a)		238,932		11,913,149
FlexShares^® Credit-Scored US Long Corporate Bond Index Fund(a)		78,659		3,960,481
FlexShares^® Disciplined Duration MBS Index Fund(a)		594,370		13,735,891
FlexShares^® Ready Access Variable Income Fund(a)		18,508		1,396,614
iShares 20+ Year Treasury Bond ETF		23,622		2,881,175
iShares 3-7 Year Treasury Bond ETF		53,963		6,585,105
iShares 7-10 Year Treasury Bond ETF		2,743		287,686
iShares Short-Term Corporate Bond ETF		41,271		2,158,060

TOTAL EXCHANGE TRADED FUNDS (Cost $42,477,754)				42,918,161


	Principal Amount ($)
SHORT-TERM INVESTMENTS - 0.4%
U.S. TREASURY OBLIGATIONS - 0.4%
U.S. Treasury Bills 2.43%, 4/25/2019(b)(c) (Cost $164,087)		165,000		164,112

Total Investments — 99.7% (Cost $42,641,841)				43,082,273
Other Assets Less Liabilities — 0.3%				118,552

Net Assets — 100.0%				43,200,825

(a)	Investment in affiliated Fund. Northern Trust Investments, Inc. is the Investment Adviser to both the Fund and the Underlying Funds.

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

(c)	The rate shown was the current yield as of January 31, 2019.

Percentages shown are based on Net Assets.

As of January 31, 2019, 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 January 31, 2019, was as follows:

FlexShares^® Core Select Bond Fund had the following open futures contracts as of January 31, 2019:

Significant Accounting Policies

FlexShares^® Trust (the “Trust”), which is an investment company, follows accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, “Financial Services-Investment Companies.” The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements. These policies are in conformity with accounting principles generally accepted in the United States of America (“U.S.”) or (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

Investment Valuation

Each Fund’s Net Asset Value (“NAV”) is determined daily as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time, on each day the NYSE is open for trading, based on prices at the time of closing provided that any U.S. fixed-income assets may be valued as of the announced closing time for trading in fixed-income instruments on any day that the Securities Industry and Financial Markets Association announces an early closing time. The NAV of a Fund is calculated by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding.

The investments of the Funds are valued at fair value pursuant to the pricing policy and procedures approved by the Board of Trustees. The Funds’ investments are valued using market quotations when available. When market quotations are not readily available, are deemed unreliable, or do not reflect material events occurring between the close of local markets and the time of valuation, the Funds value securities at fair value as determined in good faith in accordance with the Funds’ fair value pricing procedures as approved by the Board of Trustees. Such circumstances includes periods when trading in a security is suspended, the exchange or market on which a security trades closes early, the trading volume in a security is limited, corporate actions and announcements take place, or regulatory news affecting an issuer is released, such as government approvals. Additionally, the Trust, in its discretion, may make adjustments to the prices of securities held by a Fund if an event occurs after the publication of market values normally used by a Fund but before the time as of which the Fund calculates its NAV, depending on the nature and significance of the event, consistent with applicable regulatory guidance

and the Trust’s fair value procedures. Other events that can trigger fair valuing of foreign securities include, for example, significant fluctuations in general market indicators, government actions, or natural disasters.

The use of fair valuation involves the risk that the values used by the Funds to price their investments may be higher or lower than the values used by other investment companies and investors to price the same investments. Fair value pricing involves subjective judgments and it is possible that a fair value determination for a portfolio security may be materially different than the value that could be realized upon the sale of such security. In addition, fair value pricing could result in a difference between the prices used to calculate a Fund’s NAV and the prices used by an index Fund’s underlying index. This difference may adversely affect an index Fund’s ability to track its underlying index. Portfolio securities of certain Funds are listed on foreign exchanges and their value may change on days when shareholders will not be able to purchase or sell Fund shares.

Security prices are generally provided by independent pricing services. Portfolio securities listed or traded on domestic securities exchanges or the NASDAQ/NMS, including dollar-denominated foreign securities or American Depositary Receipts (“ADRs”), are valued at the closing price, or last sale price, reported on the exchange or system where the security is principally traded. The closing price for securities traded on the NASDAQ/NMS is the Nasdaq Official Closing Price (“NOCP”). If there have been no sales for that day on the exchange or system where the security is principally traded, then the value is determined with reference to the last sale price, or the NOCP, if applicable, on any other exchange or system. If there have been no sales of the security for that day on any exchange or system, the security is valued at fair value pursuant to the Trust’s fair value procedures.

Securities that are traded regularly in the over-the-counter market (other than the NASDAQ/NMS), including securities listed on exchanges but primarily traded over-the-counter, are valued on the basis of bid quotes or the mean between the bid and asked quotes based upon quotes furnished by one or more broker-dealers or market makers for those securities. Securities that may be traded over-the-counter include equity securities, fixed-income securities, non-exchange-listed foreign securities, and certain derivative instruments. Fixed-income securities may be valued using prices provided directly from one or more broker-dealers, market makers, or independent third-party pricing services which may use matrix pricing and valuation models, as well as recent market transactions for the same or similar assets, to derive values when such prices are believed to reflect fair

market values of such securities. Such prices may be determined by taking into account securities prices, yields, maturities, call features, ratings, prepayment speeds, credit risks, cash flows, institutional size trading in similar groups of securities and developments related to specific securities. Fixed-income securities maturing within a relatively short period, less than 60 days, are valued at amortized cost when it approximates fair value.

Foreign equity securities are generally priced at the closing price or last sales price reported on the foreign exchange on which they are principally traded. If there have been no sales for that day on the primary exchange, then the value is determined with reference to the last sale price on any other exchange. If there have been no sales of the security for that day on any exchange, the security will be valued at fair value pursuant to the Trust’s fair value procedures. Spot and forward foreign currency exchange contracts generally are valued using an independent pricing service. The value of assets denominated in foreign currencies is converted into U.S. dollars using exchange rates deemed appropriate by Northern Trust Investments, Inc. (“NTI”) as Investment Adviser. Any use of a different rate from the rates used by the index provider may adversely affect the Fund’s ability to track its underlying index. The index provider determines the composition and relative weightings of the securities in the underlying index and publishes information regarding the market value of the underlying index.

Exchange-traded financial futures and options thereon are valued at the settlement price as established by the exchange on which they are traded. Over-the-counter options are valued at broker-provided bid prices, as are swaps. The foregoing prices may be obtained from one or more independent pricing services or, as needed or applicable, independent broker-dealers. If there was no sale on that day, and for other non-exchange traded derivatives, the contract is valued at fair value pursuant to the Trust’s fair value procedures.

Each Fund relies on various sources to calculate its NAV. The ability of the Funds’ administrator to calculate the NAV per share of the Funds is subject to operational risks associated with processing or human errors, systems or technology failures, and errors caused by third party service providers, data sources, or trading counterparties. Such failures may result in delays in the calculation of the Funds’ NAVs and/or the inability to calculate NAV over extended time periods. The Funds may be unable to recover any losses associated with such failures, and it may be necessary for alternative procedures to be followed to price portfolio securities when determining the Funds’ NAVs.

Various inputs are used in determining the value of each Fund’s investments. These inputs are summarized in three levels listed below:

•

Level 1—Quoted prices in active markets for identical assets on the measurement date.

•

Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

•

Level 3—Significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments).

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 January 31, 2019 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.

Securities Lending

Each Fund may lend securities to banks, brokers and dealers or other qualified institutions. In exchange, the Fund is required to receive minimum initial collateral value as follows:


Type of Loan	Minimum Initial Collateral Requirement
U.S. dollar denominated securities secured by U.S. dollar denominated government securities or cash collateral		102	%
U.S. dollar denominated securities secured by non-U.S. dollar denominated government securities or cash collateral		105	%
Non-U.S. dollar denominated securities secured by government securities or cash collateral in the same denomination as the lent securities		102	%
Non-U.S. dollar denominated securities secured by government securities or cash collateral in the different denomination from the lent securities		105	%
U.S. dollar and Non-U.S. dollar denominated securities secured by equity securities collateral		105	%

The collateral is maintained thereafter, at a value equal to at least 100% of the value of the securities loaned. The collateral amount is valued at the beginning of each business day and is compared to the market value of the loaned securities from the prior business day to determine if additional collateral is required. If additional collateral is required, a request is sent to the borrower.

Securities lending may represent no more than one-third of the value of a Fund’s total assets (including the loan collateral). JPMorgan Chase Bank, N.A. (the “Securities Lending Agent”) serves as the securities lending agent for the securities lending program of a Fund.

Collateral for loans of portfolio securities made by a Fund may consist of cash, cash equivalents, securities issued or guaranteed by the U.S. government or foreign governments or its agencies (or any combination thereof). Any cash collateral received by the Fund in connection with these loans may be invested in a variety of short-term investments, either directly or indirectly through money market portfolios. The market value of securities on loan, and the value of investments made with cash collateral received are disclosed in the Schedule of Investments. 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.

When a Fund lends its securities, it will continue to receive payments equal to the dividends and interest paid on the securities loaned and simultaneously may earn interest on the investment of the cash collateral.

A Fund will have the right to terminate a loan at any time and recall the loaned securities within the normal and customary settlement time for securities transactions. A Fund does not have the right to vote securities on loan, but can terminate the loan and regain the right to vote if a material event affecting the securities occurred. A borrower might become insolvent or refuse to honor its obligation to return the securities. In the event of a default by a borrower with respect to any loan, the Securities Lending Agent will exercise any and all remedies provided under the applicable borrower agreement. These remedies include purchasing replacement securities for the Fund by applying the collateral held from the defaulting borrower against the purchase cost of the replacement securities. If the proceeds from the collateral are less than the purchase cost of the replacement securities, the Securities Lending Agent is responsible for such shortfall, subject to certain limitations that are set forth in detail in the Securities Lending Agency Agreement. In this event, a Fund could experience delays in recovering its securities and possibly may incur a capital loss. Each Fund will be responsible for any loss that might result from its investment of the cash collateral it receives from a borrower.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


Security	Value October 31, 2018		Purchases at Cost		Sales Proceeds		Shares January 31, 2019		Value January 31, 2019		Change in Unrealized Appreciation (Depreciation)			Dividend Income		Realized Loss
Northern Trust Corp.	$	809,190	$	22,035	$	192,070		6,450	$	570,567	$	(44,598	)	$	4,675	$	(23,990	)


	Number of Contracts		Expiration Date		Trading Currency		Notional Amount		Value and Unrealized Appreciation
Long Contracts
Russell 2000 E-Mini Index		29		03/15/2019		USD	$	2,175,290	$	147,911
S&P 500 E-Mini Index		63		03/15/2019		USD		8,519,175		406,931
S&P Midcap 400 E-Mini Index		15		03/15/2019		USD		2,754,150		199,248

									$	754,090


Abbreviations

CVR		Contingent Value Rights
ICE		Intercontinental Exchange
LIBOR		London Interbank Offered Rate
SOFRRATE		Secured Overnight Financing Rate
USD		US Dollar


	Number of Contracts		Expiration Date		Trading Currency		Notional Amount		Value and Unrealized Appreciation/ (Depreciation)
Long Contracts
EURO STOXX 50 Index		123		03/15/2019		EUR	$	4,448,617	$	125,703
FTSE 100 Index		33		03/15/2019		GBP		2,996,365		64,134
Hang Seng Index		2		02/27/2019		HKD		357,539		5,179
S&P/TSX 60 Index		11		03/14/2019		CAD		1,554,222		81,148
SGX Nikkei 225 Index		39		03/07/2019		JPY		3,717,059		(69,192	)
SPI 200 Index		12		03/21/2019		AUD		1,269,596		37,623

									$	244,595


Contracts to Receive		Counterparty	In Exchange For			Maturity Date		Unrealized Appreciation/ (Depreciation)
AUD	831,322	Citibank NA		USD	601,182		03/20/2019	$	5,368
CAD	1,509,507	Societe Generale		USD	1,131,750		03/20/2019		18,818
EUR	2,279,342	Goldman Sachs & Co.		USD	2,608,889		03/20/2019		16,106
GBP	664,454	Bank of New York		USD	843,313		03/20/2019		32,659
JPY	284,997,441	Citibank NA		USD	2,527,675		03/20/2019		100,120
USD	490,000	Toronto-Dominion Bank (The)		CHF	481,470		03/20/2019		2,706

Total unrealized appreciation								$	175,777

CHF	369,439	Goldman Sachs & Co.		USD	375,194		03/20/2019	$	(1,286	)
SEK	2,390,159	Goldman Sachs & Co.		USD	265,774		03/20/2019		(685	)
USD	430,000	Toronto-Dominion Bank (The)		CAD	581,641		03/20/2019		(13,335	)
USD	117,048	Citibank NA		DKK	763,595		03/20/2019		(763	)
USD	1,000,000	Toronto-Dominion Bank (The)		EUR	869,842		03/20/2019		(1,750	)
USD	2,797	Morgan Stanley		SGD	3,828		03/20/2019		(53	)

Total unrealized depreciation								$	(17,872	)

Net unrealized appreciation								$	157,905


Abbreviations:

AUD — Australian Dollar
CAD — Canadian Dollar
CHF — Swiss Franc
DKK — Danish Krone
EUR — Euro
GBP — British Pound
HKD — Hong Kong Dollar
JPY — Japanese Yen
SEK — Swedish Krona
SGD — Singapore Dollar
USD — US Dollar


Australia	5.1	%
Austria	0.3
Belgium	1.2
Canada	8.9
Denmark	1.2
Finland	1.1
France	7.1
Germany	6.4
Hong Kong	2.9
Ireland	0.4
Israel	0.9
Italy	2.9
Japan	27.3
Netherlands	2.8
New Zealand	0.4
Norway	1.2
Portugal	0.3
Singapore	1.3
Spain	2.5
Sweden	2.8
Switzerland	5.0
United Kingdom	16.5
Other¹	1.5

	100.0	%


Brazil	6.5	%
Chile	1.2
China	32.3
Colombia	0.4
Czech Republic	0.1
Egypt	0.4
Greece	0.4
Hungary	0.4
India	5.9
Indonesia	2.0
Malaysia	1.6
Mexico	2.0
Pakistan	0.5
Peru	0.5
Philippines	1.5
Poland	1.5
Qatar	0.7
Russia	3.0
South Africa	5.3
South Korea	16.8
Taiwan	12.0
Thailand	1.9
Turkey	1.2
United Arab Emirates	0.8
Other¹	1.1

	100.0	%


Security	Value October 31, 2018		Purchases at Cost		Sales Proceeds		Shares January 31, 2019		Value January 31, 2019		Change in Unrealized Appreciation (Depreciation)		Dividend Income		Realized Loss
FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund	$	7,846,364	$	813,508	$	759,913		132,684	$	7,916,047	$	41,817	$	52,169	$	(25,729	)


Security	Value October 31, 2018		Purchases at Cost		Sales Proceeds		Shares January 31, 2019		Value January 31, 2019		Change in Unrealized Appreciation (Depreciation)		Dividend Income		Realized Loss
FlexShares^® Morningstar Emerging Markets Factor Tilt Index Fund	$	4,467,575	$	666,691	$	51,664		107,048	$	5,679,967	$	607,909	$	21,311	$	(10,544	)


Contracts to Receive				Counterparty	In Exchange For				Maturity Date		Unrealized Appreciation/ (Depreciation)
	AUD		4,940,826	Citibank NA		USD		3,570,201		03/20/2019	$	34,731
	AUD		1,755,640	Morgan Stanley		USD		1,243,000		03/20/2019		37,952
	BRL	*	3,957,716	Citibank NA		USD		1,070,000		03/20/2019		13,221
	BRL	*	4,439,783	Goldman Sachs & Co.		USD		1,146,786		03/20/2019		68,376
	CAD		898,215	Citibank NA		USD		680,000		03/20/2019		4,633
	CAD		1,458,972	Morgan Stanley		USD		1,080,000		03/20/2019		32,050
	CAD		4,545,721	Societe Generale		USD		3,408,146		03/20/2019		56,668
	EUR		402,136	Bank of New York		USD		460,000		03/20/2019		3,119
	EUR		262,829	Citibank NA		USD		300,000		03/20/2019		2,686
	EUR		783,358	Goldman Sachs & Co.		USD		896,615		03/20/2019		5,535
	GBP		4,628,658	Bank of Montreal		USD		5,874,693		03/20/2019		227,420
	GBP		811,281	Citibank NA		USD		1,040,000		03/20/2019		29,539
	GBP		458,407	JPMorgan Chase Bank		USD		600,000		03/20/2019		4,333
	GBP		3,310,488	Morgan Stanley		USD		4,180,000		03/20/2019		184,325
	INR	*	25,982,093	Goldman Sachs & Co.		USD		357,260		03/20/2019		6,302
	JPY		55,171,178	Toronto-Dominion Bank (The)		USD		500,000		03/20/2019		8,701
	NOK		4,778,143	Bank of New York		USD		550,000		03/20/2019		18,353
	NOK		2,615,832	Citibank NA		USD		310,000		03/20/2019		1,150
	NOK		8,094,229	Goldman Sachs & Co.		USD		946,754		03/20/2019		16,043
	NZD		113,580	Goldman Sachs & Co.		USD		77,937		03/20/2019		913
	SGD		607,326	Citibank NA		USD		450,000		03/20/2019		2,079
	USD		976,513	Goldman Sachs & Co.		CHF		961,534		03/20/2019		3,346
	USD		1,025,168	Citibank NA		HKD		7,996,691		03/20/2019		4,215
	USD		700,000	JPMorgan Chase Bank		INR	*	49,593,600		03/20/2019		6,046

	Total unrealized appreciation										$	771,736


Contracts to Receive		Counterparty	In Exchange For				Maturity Date		Unrealized Appreciation/ (Depreciation)
AUD	619,784	Citibank NA		USD		446,698		03/20/2019	$	5,510
CAD	260,000	Goldman Sachs & Co.		USD		193,393		03/20/2019		4,783
CAD	150,116	Societe Generale		USD		112,549		03/20/2019		1,871
CZK	1,820,806	Citibank NA		USD		80,507		03/20/2019		716
EUR	950,283	Goldman Sachs & Co.		USD		1,087,675		03/20/2019		6,715
GBP	340,373	Bank of New York		USD		431,995		03/20/2019		16,729
GBP	217,284	Citibank NA		USD		280,000		03/20/2019		6,453
JPY	74,173,841	Citibank NA		USD		657,856		03/20/2019		26,057
NOK	902,040	Goldman Sachs & Co.		USD		105,509		03/20/2019		1,788
RUB*	9,736,485	Goldman Sachs & Co.		USD		146,324		03/20/2019		1,519
SGD	17,194	Morgan Stanley		USD		12,561		03/20/2019		238
USD	255,522	Goldman Sachs & Co.		CHF		251,603		03/20/2019		876
USD	430,000	Goldman Sachs & Co.		JPY		46,294,531		03/20/2019		3,145

Total unrealized appreciation									$	76,400

HKD	2,263,627	Citibank NA		USD		290,195		03/20/2019	$	(1,193	)
SEK	780,019	Goldman Sachs & Co.		USD		86,734		03/20/2019		(223	)
TWD*	3,873,072	BNP Paribas SA		USD		126,908		03/20/2019		(486	)
USD	180,000	Toronto-Dominion Bank (The)		AUD		253,878		03/20/2019		(5,235	)
USD	467,621	Goldman Sachs & Co.		BRL	*	1,810,396		03/20/2019		(27,882	)
USD	250,000	Morgan Stanley		BRL	*	972,950		03/20/2019		(16,295	)
USD	100,000	Toronto-Dominion Bank (The)		CAD		135,265		03/20/2019		(3,101	)
USD	194,813	Goldman Sachs & Co.		EUR		170,000		03/20/2019		(966	)
USD	540,000	Toronto-Dominion Bank (The)		EUR		469,715		03/20/2019		(945	)
USD	250,000	Toronto-Dominion Bank (The)		GBP		196,434		03/20/2019		(8,966	)
USD	100,936	Goldman Sachs & Co.		INR	*	7,340,681		03/20/2019		(1,781	)
USD	265,928	BNP Paribas SA		KRW	*	298,079,395		03/20/2019		(2,318	)
USD	145,384	Goldman Sachs & Co.		RUB	*	9,736,485		03/20/2019		(2,460	)

Total unrealized depreciation									$	(71,851	)

Net unrealized appreciation									$	4,549


Abbreviations:

AUD	—	Australian Dollar
BRL	—	Brazilian Real
CAD	—	Canadian Dollar
CHF	—	Swiss Franc
CZK	—	Czech Koruna
EUR	—	Euro
GBP	—	British Pound
HKD	—	Hong Kong Dollar
INR	—	Indian Rupee
JPY	—	Japanese Yen
KRW	—	Korean Won
NOK	—	Norwegian Krone
RUB	—	Russian Ruble
SEK	—	Swedish Krona
SGD	—	Singapore Dollar
TWD	—	Taiwan Dollar
USD	—	US Dollar


Contracts to Receive		Counterparty	In Exchange For		Maturity Date		Unrealized Appreciation/ (Depreciation)
NOK	59,477	Goldman Sachs & Co.	USD	6,957		03/20/2019	$	118

Total unrealized appreciation							$	118

USD	76,195	Citibank NA	AUD	105,364		03/20/2019	$	(681	)
USD	25,830	Goldman Sachs & Co.	BRL^*	100,000		03/20/2019		(1,540	)

Total unrealized depreciation							$	(2,221	)

Net unrealized depreciation							$	(2,103	)


GNMA		Government National Mortgage Association
TBA		To Be Announced; Security is subject to delayed delivery.


	Level 1 – Quoted Prices		Level 2 – Other Significant Observable Inputs		Level 3 – Significant Unobservable Inputs		Total
FlexShares^® Morningstar US Market Factor Tilt Index Fund
Investments
Common Stocks*	$	1,400,934,558	$	—	$	—	$	1,400,934,558
Rights		—		—		18,580		18,580
Securities Lending Reinvestments
Certificates of Deposit		—		34,001,630		—		34,001,630
Commercial Paper		—		12,498,020		—		12,498,020
Repurchase Agreements		—		24,535,890		—		24,535,890

Total Investments	$	1,400,934,558	$	71,035,540	$	18,580	$	1,471,988,678

Other Financial Instruments
Assets
Futures Contracts	$	754,090	$	—	$	—	$	754,090

Total Other Financial Instruments	$	754,090	$	—	$	—	$	754,090


	Level 1 – Quoted Prices			Level 2 – Other Significant Observable Inputs			Level 3 – Significant Unobservable Inputs		Total
FlexShares^® Morningstar Developed Markets ex-US Factor Tilt Index Fund
Investments
Closed End Funds	$	977,405		$	—		$	—	$	977,405
Common Stocks
Construction & Engineering		23,045,658			35,129			—		23,080,787
Electric Utilities		13,306,247			31,064			—		13,337,311
Health Care Providers & Services		4,883,795			34,998			—		4,918,793
Insurance		49,582,232			226,329			—		49,808,561
Oil, Gas & Consumable Fuels		58,608,540			9,586			—		58,618,126
Pharmaceuticals		41,505,209			3,499			—		41,508,708
Other*		773,921,253			—			—		773,921,253
Rights		9,653			1,806			—		11,459
Warrants		—			—			—		—
Securities Lending Reinvestments
Repurchase Agreements		—			8,366,351			—		8,366,351

Total Investments	$	965,839,992		$	8,708,762		$	—	$	974,548,754

Other Financial Instruments
Assets
Futures Contracts	$	313,787		$	—		$	—	$	313,787
Forward Foreign Currency Contracts		—			175,777			—		175,777
Liabilities
Futures Contracts		(69,192	)		—			—		(69,192	)
Forward Foreign Currency Contracts		—			(17,872	)		—		(17,872	)

Total Other Financial Instruments	$	244,595		$	157,905		$	—	$	402,500


	Level 1 – Quoted Prices		Level 2 – Other Significant Observable Inputs			Level 3 – Significant Unobservable Inputs		Total
FlexShares^® STOXX^® Global ESG Impact Index Fund
Investments
Common Stocks
Electric Utilities	$	747,322	$	3,123		$	—	$	750,445
Other*		75,766,660		—			—		75,766,660
Securities Lending Reinvestments
Repurchase Agreements		—		178,319			—		178,319

Total Investments	$	76,513,982	$	181,442		$	—	$	76,695,424

Other Financial Instruments
Assets
Futures Contracts	$	29,432	$	—		$	—	$	29,432

Total Other Financial Instruments	$	29,432	$	—		$	—	$	29,432


	Level 1 – Quoted Prices		Level 2 – Other Significant Observable Inputs			Level 3 – Significant Unobservable Inputs		Total
FlexShares^® Morningstar Global Upstream Natural Resources Index Fund
Investments
Common Stocks*	$	5,407,072,385	$	—		$	—	$	5,407,072,385
Securities Lending Reinvestments
Certificates of Deposit		—		62,502,653			—		62,502,653
Commercial Paper		—		12,957,810			—		12,957,810
Funding Agreements		—		3,000,000			—		3,000,000
Repurchase Agreements		—		124,647,500			—		124,647,500

Total Investments	$	5,407,072,385	$	203,107,963		$	—	$	5,610,180,348

Other Financial Instruments
Assets
Futures Contracts	$	1,817,003	$	—		$	—	$	1,817,003
Forward Foreign Currency Contracts		—		771,736			—		771,736
Liabilities
Forward Foreign Currency Contracts		—		(721,741	)		—		(721,741	)

Total Other Financial Instruments	$	1,817,003	$	49,995		$	—	$	1,866,998


	Level 1 – Quoted Prices		Level 2 – Other Significant Observable Inputs			Level 3 – Significant Unobservable Inputs		Total
FlexShares^® STOXX^® Global Broad Infrastructure Index Fund
Investments
Common Stocks
Commercial Services & Supplies	$	28,309,443	$	168,892		$	—	$	28,478,335
Electric Utilities		99,195,426		468,633			—		99,664,059
Other*		689,062,769		—			—		689,062,769
Securities Lending Reinvestments
Commercial Paper		—		1,000,000			—		1,000,000
Repurchase Agreements		—		35,253,431			—		35,253,431

Total Investments	$	816,567,638	$	36,890,956		$	—	$	853,458,594

Other Financial Instruments
Assets
Futures Contracts	$	257,221	$	—		$	—	$	257,221
Forward Foreign Currency Contracts		—		30,302			—		30,302
Liabilities
Forward Foreign Currency Contracts		—		(38,805	)		—		(38,805	)

Total Other Financial Instruments	$	257,221	$	(8,503	)	$	—	$	248,718


FlexShares Trust

By:		/s/ Peter K. Ewing
		Peter K. Ewing
		President
		March 28, 2019