| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Capital Research & Management Co. (World Investors) | 56,210,419 | 524,460 | 123,381,869.7 | 0.0129 | 1.664 | 02/27/2026 |
| 2 | Lazard Asset Management LLC | 47,095,401 | 3,933,839 | 103,374,405.2 | 0.0947 | 1.3942 | 01/31/2026 |
| 3 | ARGA Investment Management LP | 16,946,587 | -874,852 | 37,197,758.47 | 0.199 | 0.5017 | 10/31/2025 |
| 4 | Old Mutual Investment Group (Pty) Ltd. | 15,169,682 | 484,345 | 33,297,451.99 | 0.599 | 0.4491 | 09/30/2025 |
| 5 | Nordea Investment Management AB | 12,496,560 | 1,474,260 | 27,429,949.2 | 0.0326 | 0.3699 | 01/30/2026 |
| 6 | M&G Investment Management Ltd. | 11,426,978 | -61,283 | 25,082,216.71 | 0.0327 | 0.3383 | 11/30/2025 |
| 7 | Schroder Investment Management Ltd. | 11,268,748 | -4,998,034 | 24,734,901.86 | 0.0102 | 0.3336 | 01/31/2026 |
| 8 | Dimensional Fund Advisors LP | 11,263,351 | 18,675 | 24,723,055.44 | 0.0036 | 0.3334 | 02/27/2026 |
| 9 | American Century Investment Management, Inc. | 11,018,150 | 3,879,043 | 24,184,839.25 | 0.0093 | 0.3262 | 02/27/2026 |
| 10 | RBC Global Asset Management (UK) Ltd. | 8,558,322 | 170,530 | 18,785,516.79 | 0.0333 | 0.2534 | 02/27/2026 |
| 11 | East Capital Asia Ltd. | 6,704,881 | -654,264 | 14,717,213.8 | 1.2927 | 0.1985 | 01/30/2026 |
| 12 | HSBC Global Asset Management (UK) Ltd. | 6,215,677 | 991,231 | 13,643,411.02 | 0.0082 | 0.184 | 01/31/2026 |
| 13 | BlackRock Investment Management (UK) Ltd. | 6,167,373 | 0 | 13,537,383.74 | 0.0017 | 0.1826 | 01/31/2026 |
| 14 | Harding Loevner LP | 5,956,698 | -1,917,529 | 13,074,952.11 | 0.0546 | 0.1763 | 02/27/2026 |
| 15 | Fiera Capital (UK) Ltd. | 5,731,753 | -346,349 | 12,581,197.84 | 0.3086 | 0.1697 | 11/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | American Funds New World Fund | 51,950,956 | -122,610 | 114,032,348.42 | 0.1597 | 1.5379 | 12/31/2025 |
| 2 | Lazard Emerging Markets Equity Portfolio | 29,196,410 | 3,368,554 | 64,086,119.95 | 0.8679 | 0.8643 | 01/31/2026 |
| 3 | Vanguard International Value Fund | 16,946,587 | -874,852 | 37,197,758.47 | 0.3205 | 0.5017 | 10/31/2025 |
| 4 | Russell Invt. Co. Plc - Old Mutual African Frontiers Fund | 15,169,682 | 484,345 | 33,297,451.99 | 8.3026 | 0.4491 | 09/30/2025 |
| 5 | Schroder ISF - Frontier Markets Equity | 11,268,748 | 1,851,254 | 24,734,901.86 | 3.0647 | 0.3336 | 01/31/2026 |
| 6 | Avantis Emerging Markets Equity ETF | 10,316,181 | 3,663,993 | 22,644,017.3 | 0.1131 | 0.3054 | 02/27/2026 |
| 7 | Nordea 2 - BetaPlus Enhanced EM. Sustainable Equity Fund | 7,799,361 | 1,172,988 | 17,119,597.4 | 0.4985 | 0.2309 | 01/30/2026 |
| 8 | M&G Investment Funds (7) OEIC - Global Emerging Markets Fund | 6,952,952 | -708,970 | 15,261,729.64 | 1.1576 | 0.2058 | 11/30/2025 |
| 9 | East Capital - Global Frontier Markets Fund | 6,590,373 | -768,772 | 14,465,868.74 | 4.563 | 0.1951 | 01/30/2026 |
| 10 | Lazard Investment Funds - Emerging Markets Fund | 6,287,744 | 0 | 13,801,598.08 | 0.8915 | 0.1861 | 03/31/2025 |
| 11 | RBC Emerging Markets Dividend Fund | 6,280,451 | 0 | 13,785,589.94 | 0.8601 | 0.1859 | 06/30/2025 |
| 12 | HSBC Global Investment Funds - Frontier Markets | 6,215,677 | 991,231 | 13,643,411.02 | 1.5566 | 0.184 | 01/31/2026 |
| 13 | BlackRock Strategic Fds. - Emerging Markets Equity Strategies | 6,167,373 | 0 | 13,537,383.74 | 0.9822 | 0.1826 | 01/31/2026 |
| 14 | DFA Emerging Markets Core Equity 2 Portfolio | 5,391,589 | -216,992 | 11,834,537.86 | 0.033 | 0.1596 | 12/31/2025 |
| 15 | Coeli SICAV I - Frontier Markets | 4,559,346 | 1,116,017 | 10,007,764.47 | 3.1686 | 0.135 | 02/27/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Lazard Asset Management LLC | 47,095,401 | 3,933,839 | 103,374,405.2 | 0.0947 | 1.3942 | 01/31/2026 |
| 2 | American Century Investment Management, Inc. | 11,018,150 | 3,879,043 | 24,184,839.25 | 0.0093 | 0.3262 | 02/27/2026 |
| 3 | Franklin Templeton Investments (ME) Ltd. | 3,561,679 | 3,561,679 | 7,817,885.4 | 1.6761 | 0.1054 | 12/31/2025 |
| 4 | Nordea Investment Management AB | 12,496,560 | 1,474,260 | 27,429,949.2 | 0.0326 | 0.3699 | 01/30/2026 |
| 5 | Coeli Asset Management AB | 4,559,346 | 1,116,017 | 10,007,764.47 | 1.419 | 0.135 | 02/27/2026 |
| 6 | HSBC Global Asset Management (UK) Ltd. | 6,215,677 | 991,231 | 13,643,411.02 | 0.0082 | 0.184 | 01/31/2026 |
| 7 | Ashmore Investment Management Ltd. | 923,701 | 877,578 | 2,027,523.7 | 0.174 | 0.0273 | 12/31/2025 |
| 8 | Connor, Clark & Lunn Investment Management Ltd. | 781,773 | 755,687 | 1,715,991.74 | 0.0042 | 0.0231 | 02/27/2026 |
| 9 | Abaco Capital SGIIC SA | 1,161,674 | 640,495 | 2,549,874.43 | 2.2615 | 0.0344 | 12/31/2025 |
| 10 | Symphonia SGR SpA | 561,000 | 561,000 | 1,231,395 | 0.2326 | 0.0166 | 11/28/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Sprucegrove Investment Management Ltd. | 0 | -23,334,049 | 0 | 0 | 0 | |
| 2 | Schroder Investment Management Ltd. | 11,268,748 | -4,998,034 | 24,734,901.86 | 0.0102 | 0.3336 | 01/31/2026 |
| 3 | Harding Loevner LP | 5,956,698 | -1,917,529 | 13,074,952.11 | 0.0546 | 0.1763 | 02/27/2026 |
| 4 | Bellevue Asset Management AG | 0 | -895,327 | 0 | 0 | 0 | |
| 5 | ARGA Investment Management LP | 16,946,587 | -874,852 | 37,197,758.47 | 0.199 | 0.5017 | 10/31/2025 |
| 6 | East Capital Asia Ltd. | 6,704,881 | -654,264 | 14,717,213.8 | 1.2927 | 0.1985 | 01/30/2026 |
| 7 | Morgan Stanley Investment Management, Inc. | 2,594,154 | -598,100 | 5,694,168.03 | 0.0064 | 0.0768 | 02/28/2026 |
| 8 | Fiera Capital (UK) Ltd. | 5,731,753 | -346,349 | 12,581,197.84 | 0.3086 | 0.1697 | 11/30/2025 |
| 9 | UBS Asset Management Switzerland AG | 3,068,179 | -320,370 | 6,734,652.9 | 0.002 | 0.0908 | 02/27/2026 |
| 10 | Charles Schwab Investment Management, Inc. | 3,258,035 | -291,304 | 7,151,386.82 | 0.0008 | 0.0965 | 02/27/2026 |
Data provided by FactSet Research Systems Inc.