FlexShares Global Upstream Natural Resources Index Fund

GUNR • ARCA

FlexShares Global Upstream Natural Resources Index Fund is an exchange-traded fund on ARCA. As of Q3 2025, 249 institutional investors hold shares in this ETF, with total holdings valued at $4.4B. NORTHERN TRUST CORP is the largest holder with a position valued at $2.9B.

Overview

Overview of institutional ownership in GUNR as of Q3 2025

All Institutions

Institutions: 249
Value Held: $4.4B
Shares Held: 100.4M
Avg Position: $17.6M
Median Position: $618.2K

Hedge Funds

Hedge Funds: 7
Value Held: $13.7M
Shares Held: 313.9K
Avg Position: $2.0M
Median Position: $650.3K

Biggest Investors

Institutions with the largest positions in GUNR as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$2.9B 0.38% of portfolio	67.1M shares	≤ Q2 2013 Held for 12y 5m+	$782.01B
C COMMON FUND FOR NONPROFIT ORGANIZATIONS Institution	-	$192.4M 16.54% of portfolio	4.4M shares	Q3 2025 Held for 2 months	$1.2B
E EVOKE WEALTH, LLC RIA/Wealth	Jane Frances Eagle President	$184.1M 3.84% of portfolio	4.2M shares	Q1 2020 Held for 5y 8m	$4.8B
Valmark Advisers, Inc. RIA/Wealth	Lawrence Joseph Rybka President	$154.8M 2.01% of portfolio	3.5M shares	Q3 2013 Held for 12y 2m	$7.7B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$80.1M 0.00% of portfolio	1.8M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
F FIRST INTERSTATE BANK Institution	-	$63.9M 3.53% of portfolio	1.5M shares	Q4 2024 Held for 11 months	$1.8B
MOLLER FINANCIAL SERVICES RIA/Wealth	Nathan Lawrence Eads CEO	$48.3M 10.08% of portfolio	1.1M shares	Q4 2014 Held for 10y 11m	$479.5M
G GCIC Ltd. Institution	-	$41.4M 0.07% of portfolio	946.0K shares	Q1 2022 Held for 3y 8m	$58.8B
N NBT BANK N A /NY Institution	-	$41.1M 2.92% of portfolio	938.3K shares	Q1 2017 Held for 8y 8m	$1.4B
C CONNABLE OFFICE INC Institution	-	$41.0M 3.80% of portfolio	937.0K shares	Q1 2015 Held for 10y 8m	$1.1B

Net Capital Flow

Institutional buying and selling activity for GUNR in Q3 2025

Traded: +$98.3M
Buyers: 106
Sellers: 112
Total Bought: +$261.1M
Total Sold: −$162.8M
Avg Position: $15.9M

Biggest Buyers

Institution	Net Bought	Current Position
C COMMON FUND FOR NONPROFIT ORGANIZATIONS Institution	+$192.4M +4.4M shares	$192.4M 4.4M shares
Aaron Wealth Advisors LLC RIA/Wealth	+$12.9M +295.2K shares	$39.2M 894.3K shares
E EVOKE WEALTH, LLC RIA/Wealth	+$10.2M +234.0K shares	$184.1M 4.2M shares
BANK OF AMERICA CORP /DE/ Institution	+$6.3M +144.9K shares	$19.6M 447.2K shares
B BESSEMER GROUP INC Institution	+$2.8M +63.0K shares	$8.3M 188.7K shares
Barry Investment Advisors, LLC RIA/Wealth	+$2.7M +62.5K shares	$20.1M 458.4K shares
V Versant Capital Management, Inc RIA/Wealth	+$2.2M +49.6K shares	$24.6M 561.7K shares
Valmark Advisers, Inc. RIA/Wealth	+$2.1M +47.3K shares	$154.8M 3.5M shares
Pathway Financial Advisors LLC RIA/Wealth	+$1.9M +42.5K shares	$16.2M 369.8K shares
MORGAN STANLEY RIA/Wealth	+$1.8M +41.3K shares	$80.1M 1.8M shares

Biggest Sellers

Institution	Net Sold	Current Position
NORTHERN TRUST CORP Institution	−$114.8M −2.6M shares	$2.9B 67.1M shares
F FLOW TRADERS U.S. LLC Institution	−$12.2M −305.4K shares	Sold Off 0 shares
CULLEN/FROST BANKERS, INC. Institution	−$3.4M −76.9K shares	$4.7M 107.9K shares
AMERIPRISE FINANCIAL INC Institution	−$2.7M −61.2K shares	$13.8M 314.7K shares
J JANE STREET GROUP, LLC Institution	−$2.5M −58.1K shares	$2.7M 60.7K shares
G GREENLEAF TRUST Institution	−$2.2M −50.3K shares	$1.4M 31.2K shares
BP WEALTH MANAGEMENT, LLC RIA/Wealth	−$1.7M −39.5K shares	$1.2M 27.6K shares
V VPR Management LLC Institution	−$1.3M −30.6K shares	$21.8M 497.6K shares
Clark Capital Management Group, Inc. RIA/Wealth	−$1.2M −28.0K shares	$3.8M 86.2K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$1.2M −27.6K shares	$16.3M 371.6K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited GUNR in Q3 2025

New Positions: 8
New Value: $194.4M
Exited Positions: 27
Exited Value: $18.7M

New Positions

Institution	Position Value
C COMMON FUND FOR NONPROFIT ORGANIZATIONS Institution	$192.4M 4.4M shares
Stratos Wealth Partners, LTD. RIA/Wealth	$1.5M 33.7K shares
Glenmede Investment Management, LP Long Only Manager	$324.5K 7.4K shares
Magnus Financial Group LLC RIA/Wealth	$204.7K 4.7K shares
Triumph Capital Management RIA/Wealth	$10.9K 250.0 shares
Wall Street Access Asset Management, LLC RIA/Wealth	$9.4K 214.0 shares
Heritage Wealth Advisors RIA/Wealth	$3.5K 80.0 shares
Guerra Advisors Inc RIA/Wealth	$3.1K 70.0 shares

Exited Positions

Institution	Previous Position
F FLOW TRADERS U.S. LLC Institution	$12.2M 305.4K shares
L.M. KOHN & COMPANY RIA/Wealth	$1.0M 25.4K shares
CAPITAL WEALTH MANAGEMENT, LLC RIA/Wealth	$973.2K 24.3K shares
O OLD MISSION CAPITAL LLC Institution	$955.1K 23.8K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$569.6K 14.2K shares
BAROMETER CAPITAL MANAGEMENT INC. Long Only Manager	$453.2K 11.3K shares
C Coconut Grove Bank Institution	$418.9K 10.4K shares
Fortis Advisors, LLC Family Office	$397.3K 9.9K shares
LaSalle St. Investment Advisors, LLC RIA/Wealth	$345.9K 8.6K shares
Eqis Capital Management, Inc. RIA/Wealth	$303.3K 7.6K shares

Options Activity

Institutions with the largest Call and Put options positions in GUNR as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with GUNR as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
C COMMON FUND FOR NONPROFIT ORGANIZATIONS Institution	-	16.54% $192.4M	4.4M shares	Q3 2025 Held for 2 months	$1.2B
MOLLER FINANCIAL SERVICES RIA/Wealth	Nathan Lawrence Eads CEO	10.08% $48.3M	1.1M shares	Q4 2014 Held for 10y 11m	$479.5M
V VPR Management LLC Institution	-	9.99% $21.8M	497.6K shares	Q4 2018 Held for 6y 11m	$218.0M
Colony Family Offices, LLC Family Office	Wyman Thomas Byrd CIO	4.67% $18.0M	412.1K shares	Q4 2021 Held for 3y 11m	$386.3M
Barry Investment Advisors, LLC RIA/Wealth	Kathy Ann Alves President	4.62% $20.1M	458.4K shares	Q2 2023 Held for 2y 5m	$434.7M
Navalign, LLC RIA/Wealth	David William Jacobs Member	4.25% $16.1M	368.3K shares	Q1 2021 Held for 4y 8m	$379.0M
E EVOKE WEALTH, LLC RIA/Wealth	Jane Frances Eagle President	3.84% $184.1M	4.2M shares	Q1 2020 Held for 5y 8m	$4.8B
C CONNABLE OFFICE INC Institution	-	3.80% $41.0M	937.0K shares	Q1 2015 Held for 10y 8m	$1.1B
S. R. Schill & Associates RIA/Wealth	Leonard Alan Skiena CEO	3.53% $5.0M	114.8K shares	Q4 2016 Held for 8y 11m	$142.4M
F FIRST INTERSTATE BANK Institution	-	3.53% $63.9M	1.5M shares	Q4 2024 Held for 11 months	$1.8B

Hedge Fund Spotlight

Discover hedge funds investing in GUNR

Bienville Capital Management, LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerWilliam Herbert Stimpson

Portfolio Value: $524.8M
Positions: 74
Last Reported: Q3 2025

Sector Allocation

Position in FlexShares Global Upstream Natural Resources Index Fund

Market Value: $276.5K
Shares Held: 6.3K
Portfolio Weight: 0.05%
Owned Since: 2024-Q3

Top Holding	Sector	Market Value	Weight
1 Aptus Collared Investment Opportunity ACIO	ETF ETF	$41.4M	7.89%
2 monday.com MNDY	Software - Application Technology	$39.5M	7.53%
3 GitLab GTLB	Software - Application Technology	$37.5M	7.15%