Fund · FlexShares STOXX Global Broad Infrastructure Index Fund · measured from SEC filings
NFRA holdings
NFRA reports 200 holdings and behaves like 66.9 equally weighted ones, computed from its SEC Form N-PORT filing for 2026-07-31. The fact sheet publishes the first number; this page computes the second, and traces it across 27 quarters of filings.
Measured concentration
as of 2026-07-31Read this figure with the following in mind
3.4% of net assets is securities-lending cash collateral, excluded from the figure; counted as filed the fund would read 66.1
The figure below is what the filing says, published unchanged. What it may not do is sit beside a plain long-only fund and be read as the same quantity. How comparability is decided.
Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table · hold it with other funds? X-ray the mix. Pricing: 96.46% at a quoted market price (level 1), 30 issuer countries, 1.96% restricted securities.
What stands out
as of 2026-07-31NFRA's largest investment is SoftBank Group Corp at 3.76% of net assets. Canadian Pacific Kansas City Ltd and Deutsche Telekom AG (registered) follow; the three together are 10.63%. Ten companies are 28.61% of the fund; the other 190 share the rest. Among the 721 equity funds measured here, NFRA behaves like 66.9 holdings against a median of 42.4 — 1.6 times the median. Across 27 quarterly filings NFRA has held roughly steady since 2019-10-31 (59.5 then, 67.3 now). Between the 2026-01-31 and 2026-04-30 filings 25 positions were added and 19 dropped; 8.4% of the weight moved. the United States is the largest country at 42.88% of the portfolio, across 30 countries in the filing.
Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable equity funds on this site. Nothing here is a view on the fund.
Every filing since 2019
27Between 2019-10-31 and 2026-04-30, NFRA went from behaving like 59.5 equally weighted positions to 67.3 — 13% more, while its top ten went from 31.35% to 28.47% of net assets. Read across the funds on the concentration-over-time table.
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2026-04-30 | 202 | 67.3 | 28.47% | 3.79% |
| 2026-01-31 | 196 | 65.9 | 28.27% | 3.77% |
| 2025-10-31 | 199 | 61.8 | 29.21% | 5.29% |
| 2025-07-31 | 181 | 64.8 | 28.15% | 4.26% |
| 2025-04-30 | 180 | 64.4 | 28.51% | 4.23% |
| 2025-01-31 | 177 | 61.3 | 29.49% | 4.33% |
| 2024-10-31 | 178 | 63.7 | 28.51% | 3.81% |
| 2024-07-31 | 181 | 64.5 | 28.07% | 3.75% |
Earlier filings (19 more, back to 2019-10-31)
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2024-04-30 | 179 | 64.6 | 28.54% | 3.78% |
| 2024-01-31 | 174 | 60.9 | 29.99% | 4.15% |
| 2023-10-31 | 175 | 62.4 | 29.2% | 3.89% |
| 2023-07-31 | 181 | 62.4 | 29.52% | 4.07% |
| 2023-04-30 | 183 | 62 | 29.76% | 4.11% |
| 2023-01-31 | 182 | 62.8 | 29.31% | 4.12% |
| 2022-10-31 | 180 | 61.7 | 29.22% | 4.72% |
| 2022-07-31 | 223 | 61.8 | 29.43% | 5.11% |
| 2022-04-30 | 195 | 63.8 | 28.66% | 4.5% |
| 2022-01-31 | 190 | 60.7 | 30.85% | 4.34% |
| 2021-10-31 | 186 | 59.3 | 31.34% | 5.03% |
| 2021-07-31 | 205 | 59.9 | 31.71% | 4.19% |
| 2021-04-30 | 203 | 59.5 | 31.84% | 4.01% |
| 2021-01-31 | 188 | 56.4 | 33.51% | 4.31% |
| 2020-10-31 | 192 | 56.4 | 33.36% | 4.68% |
| 2020-07-31 | 196 | 56.2 | 33.36% | 4.59% |
| 2020-04-30 | 205 | 58 | 31.88% | 4.35% |
| 2020-01-31 | 178 | 60 | 30.91% | 4.63% |
| 2019-10-31 | 185 | 59.5 | 31.35% | 4.79% |
One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.
As filed, collateral included
3.37% collateralNFRA's filing lists 215 positions including 3.37% of net assets in securities-lending cash collateral. Counted as filed the fund reads 66.1 effective holdings with a top ten of 28.53%; on its own investments — the figure above — it reads 66.9 with a top ten of 28.61%. The collateral is matched by a liability and is not a holding the fund chose; since 2026-09-18 every figure on this site sets it aside (methodology). Both numbers are in the data.
Largest positions, as filed
as of 2026-04-30The 15 largest of 200 positions in NFRA's Form N-PORT, weight as a share of net assets, securities-lending collateral excluded. Every position, every quarter: NFRA.csv.gz.
| # | Position | Weight | Cumulative |
|---|---|---|---|
| 1 | SoftBank Group Corp. | 3.79% | 3.8% |
| 2 | Canadian Pacific Kansas City Ltd. | 3.67% | 7.5% |
| 3 | Deutsche Telekom AG | 3.24% | 10.7% |
| 4 | Canadian National Railway Co. | 2.96% | 13.7% |
| 5 | NextEra Energy, Inc. | 2.70% | 16.4% |
| 6 | Verizon Communications, Inc. | 2.69% | 19.0% |
| 7 | Deutsche Post AG | 2.63% | 21.7% |
| 8 | AT&T, Inc. | 2.42% | 24.1% |
| 9 | Iberdrola SA | 2.25% | 26.3% |
| 10 | Union Pacific Corp. | 2.13% | 28.5% |
| 11 | Waste Connections, Inc. | 1.97% | 30.4% |
| 12 | Enbridge, Inc. | 1.87% | 32.3% |
| 13 | Bharti Airtel Ltd. | 1.61% | 33.9% |
| 14 | Transurban Group | 1.48% | 35.4% |
| 15 | NTT, Inc. | 1.44% | 36.8% |
By country of issuer
as of 2026-04-30Share of NFRA's own investments by the issuer country the filer reported (incorporation, not revenue). Each country links to every fund that holds it.
| Country | Share |
|---|---|
| United States | 41.78% |
| Canada | 11.52% |
| Japan | 10.13% |
| Germany | 8.34% |
| United Kingdom | 4.03% |
| Spain | 3.78% |
| India | 3.47% |
| Australia | 3.36% |
Returns the fund reported
2019-08 – 2026-04Monthly total returns from Item B.5 of NFRA's own filings, 81 months on record. Not computed here and not from a price feed.
Cross-checked against a series computed separately from prices: median difference 0.20 percentage points over 81 months, which is roughly the distributions. Every month with the filing it came from: NFRA.json · all funds.
Who borrows NFRA's shares
2026-07-31The fund lends its holdings, and Item B.4.a of the filing names every firm holding them. At 2026-07-31, $248m was out to 29 borrowers. The largest, JP MORGAN SECURITIES LLC, held 22.8% of it.
| Borrower | On loan | Share of the loan |
|---|---|---|
| JP MORGAN SECURITIES LLC | $57m | 22.8% |
| CITIGROUP GLOBAL MARKETS INC. | $46m | 18.5% |
| BARCLAYS BANK PLC | $22m | 9.1% |
| PERSHING, LLC | $18m | 7.2% |
| BNP Paribas Financial Markets | $17m | 7.0% |
The filing reports no cash collateral position against this loan. Collateral taken in a form the fund does not hold as a position does not appear in N-PORT, so this is silence rather than absence. What the collateral figure can and cannot show. Every quarter NFRA has filed, with each borrower: NFRA.json · all funds.
Since the previous filing
2026-01-31 → 2026-04-30193 positions became 199: 25 added (4.7% of the fund at the later date), 19 dropped (2.4% at the earlier date). Half the sum of all weight changes, a turnover proxy: 8.4%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of NFRA compared this way, as a feed: changes.xml · all funds: filings received.
| Largest increases | 2026-01-31 | 2026-04-30 | Largest decreases | 2026-01-31 | 2026-04-30 |
|---|---|---|---|---|---|
| Canadian Pacific Kansas City Ltd. | 3.28% | 3.67% | Deutsche Telekom AG | 3.77% | 3.24% |
| Equinix, Inc. | 1.14% | 1.42% | Bharti Airtel Ltd. | 1.92% | 1.61% |
| Canadian National Railway Co. | 2.68% | 2.96% | Iberdrola SA | 2.53% | 2.25% |
| SoftBank Group Corp. | 3.56% | 3.79% | NTT, Inc. | 1.71% | 1.44% |
| Constellation Energy Corp. | 1.23% | 1.41% | Comcast Corp. | 1.51% | 1.28% |
| Union Pacific Corp. | 1.95% | 2.13% | East Japan Railway Co. | 1.39% | 1.16% |
New: RWE AG (0.75%), SSE plc (0.67%), CoreWeave, Inc. (0.54%), Apollo Hospitals Enterprise Ltd. (0.44%), Nebius Group NV (0.40%), Max Healthcare Institute Ltd. (0.34%). Gone: Consolidated Edison, Inc. (0.54%), WEC Energy Group, Inc. (0.50%), PG&E Corp. (0.47%), Veralto Corp. (0.34%), Japan Airport Terminal Co. Ltd. (0.14%), China Everbright Environment Group Ltd. (0.10%).
Asset categories and pricing
as of 2026-07-31| Asset category (as filed) | Share of investments |
|---|---|
| equity EC | 96.35% |
| repurchase agreement RA | 2.84% |
| short-term investment STIV | 0.47% |
| debt DBT | 0.32% |
| derivative DE | 0.02% |
96.5% of NFRA is carried at a quoted market price (fair-value level 1). Categories and levels are the filer's, from Form N-PORT; what a low level-1 share does and does not mean is in the measure's page.
Derivative exposure and counterparties
as of 2026-04-30A position count cannot describe a fund that uses derivatives, because a swap is filed at its unrealised gain, not its exposure. These are the notionals the fund itself reported, against net assets of $3.07B. Notional of an interest-rate or currency swap is not equity exposure.
Full detail for every fund that files derivatives: leverage.json (CC BY 4.0).
Neighbours by effective holdings, equity funds
10Every measured equity fund lined up by how many holdings it behaves like; these sit either side of NFRA (66.9). Same filings, same arithmetic. Position in this list says nothing about which fund is better.
| Fund | Reports | Behaves like | Top ten | As of |
|---|---|---|---|---|
| MGV Vanguard Mega Cap Value Index Fund | 125 | 64.5 | 28.31% | 2026-05-31 |
| IDMO Invesco S&P International Developed Momentum ETF | 192 | 65.2 | 29.14% | 2026-07-31 |
| DIVB iShares Core Dividend ETF | 384 | 65.4 | 30.3% | 2026-07-31 |
| ITOT iShares Core S&P Total U.S. Stock Market ETF | 2,501 | 66 | 32.12% | 2026-06-30 |
| FLIN Franklin FTSE India ETF | 279 | 66.1 | 30.17% | 2026-06-30 |
| VTI Vanguard Total Stock Market Index Fund | 3,539 | 67 | 32.02% | 2026-06-30 |
| IWV iShares Russell 3000 ETF | 2,595 | 67.1 | 32.01% | 2026-06-30 |
| JHEM John Hancock Multifactor Emerging Markets ETF | 954 | 67.5 | 28.17% | 2026-06-30 |
| IQDG WisdomTree International Quality Dividend Growth Fund | 266 | 67.9 | 29.79% | 2026-06-30 |
| PFM Invesco Dividend AchieversTM ETF | 430 | 68.2 | 30.49% | 2026-07-31 |
Essays that examine NFRA
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