| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Polunin Capital Partners Ltd. | 16,829,511 | -400,453 | 67,822,929.33 | 6.2023 | 1.5547 | 06/30/2025 |
| 2 | Macquarie Investment Management Business Trust | 8,785,078 | -4,018 | 35,403,864.34 | 0.0347 | 0.8116 | 03/31/2025 |
| 3 | Renaissance Technologies LLC | 8,079,470 | 396,994 | 32,560,264.1 | 0.0435 | 0.7464 | 03/31/2025 |
| 4 | Millennium Management LLC | 5,634,548 | 1,180,453 | 22,707,228.44 | 0.0198 | 0.5205 | 03/31/2025 |
| 5 | Marshall Wace LLP | 3,267,968 | -1,707,683 | 13,169,911.04 | 0.0152 | 0.3019 | 03/31/2025 |
| 6 | Qube Research & Technologies Ltd. | 2,804,468 | 60,716 | 11,302,006.04 | 0.0158 | 0.2591 | 03/31/2025 |
| 7 | Connor, Clark & Lunn Investment Management Ltd. | 2,102,436 | -19,392 | 8,472,817.08 | 0.0295 | 0.1942 | 03/31/2025 |
| 8 | Two Sigma Investments LP | 1,907,051 | -310,463 | 7,685,415.53 | 0.015 | 0.1762 | 03/31/2025 |
| 9 | Goldman Sachs International | 1,615,586 | 997,073 | 6,510,811.58 | 0.062 | 0.1492 | 03/31/2025 |
| 10 | BlackRock Asset Management Canada Ltd. | 1,400,688 | -102,184 | 5,644,772.64 | 0.0057 | 0.1294 | 03/31/2025 |
| 11 | Arrowstreet Capital LP | 1,202,864 | -1,071,770 | 4,847,541.92 | 0.0034 | 0.1111 | 03/31/2025 |
| 12 | SSgA Funds Management, Inc. | 1,176,056 | 55,577 | 4,739,505.68 | 0.0002 | 0.1086 | 03/31/2025 |
| 13 | American Century Investment Management, Inc. | 1,113,135 | 93,898 | 4,485,934.05 | 0.0019 | 0.1028 | 03/31/2025 |
| 14 | Kapitalo Investimentos Ltda. | 1,074,513 | 911,499 | 4,330,287.39 | 0.1534 | 0.0993 | 03/31/2025 |
| 15 | Cubist Systematic Strategies LLC | 933,172 | 143,919 | 3,760,683.16 | 0.0443 | 0.0862 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Macquarie Emerging Markets Fund | 6,850,000 | 0 | 27,605,500 | 0.4114 | 0.6328 | 04/30/2025 |
| 2 | Old Westbury Small & Mid Cap Strategies Fund | 2,775,475 | 0 | 11,185,164.25 | 0.124 | 0.2564 | 04/30/2025 |
| 3 | Avantis Emerging Markets Equity ETF | 1,273,254 | 296,963 | 5,131,213.62 | 0.0472 | 0.1176 | 06/30/2025 |
| 4 | SPDR Portfolio Emerging Markets ETF | 1,188,394 | 134,015 | 4,789,227.82 | 0.0388 | 0.1098 | 06/30/2025 |
| 5 | Polunin Funds - Developing Countries | 1,122,705 | 0 | 4,524,501.15 | 1.1567 | 0.1037 | 06/30/2024 |
| 6 | State Board of Administration of Florida Retirement System | 793,500 | 0 | 3,197,805 | 0.003 | 0.0733 | 03/31/2025 |
| 7 | Macquarie VIP Emerging Markets Series | 788,900 | 0 | 3,179,267 | 0.4301 | 0.0729 | 04/30/2025 |
| 8 | Scottish Widows Invt. Sol. Fds. ICVC - Fund. Index EM Eq. | 444,553 | 0 | 1,791,548.59 | 0.1453 | 0.0411 | 11/30/2024 |
| 9 | Praxis International Index Fund | 213,663 | 213,663 | 861,061.89 | 0.1754 | 0.0197 | 05/31/2025 |
| 10 | HSBC ETFs Plc - MSCI Emerging Markets | 174,897 | -32,780 | 704,834.91 | 0.0244 | 0.0162 | 06/30/2025 |
| 11 | BNY Mellon Global Fds. Plc - Brazil Equity Fund | 130,108 | 130,000 | 524,335.24 | 1.4761 | 0.012 | 05/31/2025 |
| 12 | Voya VACS Series EME Fund | 121,175 | -11,800 | 488,335.25 | 0.1844 | 0.0112 | 05/31/2025 |
| 13 | ActivePassive International Equity ETF | 120,214 | -31,225 | 484,462.42 | 0.0507 | 0.0111 | 06/30/2025 |
| 14 | Barclays MM Fd. Plc - GlobalAccess Emerging Markets Equity Fd. | 114,333 | 0 | 460,761.99 | 0.0507 | 0.0106 | 11/30/2024 |
| 15 | Vanguard Institutional Total Intl. Stock Market Index Trust | 105,554 | 0 | 425,382.62 | 0.0011 | 0.0098 | 04/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Millennium Management LLC | 5,634,548 | 1,180,453 | 22,707,228.44 | 0.0198 | 0.5205 | 03/31/2025 |
| 2 | Goldman Sachs International | 1,615,586 | 997,073 | 6,510,811.58 | 0.062 | 0.1492 | 03/31/2025 |
| 3 | Kapitalo Investimentos Ltda. | 1,074,513 | 911,499 | 4,330,287.39 | 0.1534 | 0.0993 | 03/31/2025 |
| 4 | Renaissance Technologies LLC | 8,079,470 | 396,994 | 32,560,264.1 | 0.0435 | 0.7464 | 03/31/2025 |
| 5 | Citadel Securities LLC | 779,426 | 377,797 | 3,141,086.78 | 0.0096 | 0.072 | 03/31/2025 |
| 6 | Citadel Advisors LLC | 419,962 | 365,108 | 1,692,446.86 | 0.0021 | 0.0388 | 03/31/2025 |
| 7 | O'Shaughnessy Asset Management LLC | 311,498 | 283,866 | 1,255,336.94 | 0.009 | 0.0288 | 03/31/2025 |
| 8 | UBS Securities LLC | 300,318 | 272,479 | 1,210,281.54 | 0.0005 | 0.0277 | 03/31/2025 |
| 9 | Optiver US LLC | 176,557 | 176,557 | 711,524.71 | 0.0222 | 0.0163 | 03/31/2025 |
| 10 | Bank of America, NA (Private Banking) | 399,482 | 149,115 | 1,609,912.46 | 0.0005 | 0.0369 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Marshall Wace LLP | 3,267,968 | -1,707,683 | 13,169,911.04 | 0.0152 | 0.3019 | 03/31/2025 |
| 2 | D. E. Shaw & Co. LP | 925,655 | -1,210,327 | 3,730,389.65 | 0.0039 | 0.0855 | 03/31/2025 |
| 3 | Acadian Asset Management LLC | 393,038 | -1,188,551 | 1,583,943.14 | 0.0034 | 0.0363 | 03/31/2025 |
| 4 | Arrowstreet Capital LP | 1,202,864 | -1,071,770 | 4,847,541.92 | 0.0034 | 0.1111 | 03/31/2025 |
| 5 | Manulife Investment Management (US) LLC | 0 | -870,300 | 0 | 0 | 0 | |
| 6 | Morgan Stanley & Co. LLC | 81,480 | -564,074 | 328,364.4 | 0.0001 | 0.0075 | 03/31/2025 |
| 7 | Polunin Capital Partners Ltd. | 16,829,511 | -400,453 | 67,822,929.33 | 6.2023 | 1.5547 | 06/30/2025 |
| 8 | Two Sigma Investments LP | 1,907,051 | -310,463 | 7,685,415.53 | 0.015 | 0.1762 | 03/31/2025 |
| 9 | Parametric Portfolio Associates LLC | 360,470 | -282,924 | 1,452,694.1 | 0.0004 | 0.0333 | 03/31/2025 |
| 10 | Walleye Capital LLC | 194,541 | -214,234 | 784,000.23 | 0.0054 | 0.018 | 03/31/2025 |
Data provided by FactSet Research Systems Inc.