| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Kopernik Global Investors LLC | 2,392,876 | 981,619 | 25,125,198 | 0.4877 | 3.9674 | 06/30/2025 |
| 2 | Macquarie Investment Management Business Trust | 2,218,377 | -4,443 | 23,292,958.5 | 0.0243 | 3.678 | 06/30/2025 |
| 3 | GMT Capital Corp. | 1,569,608 | 1,569,608 | 16,480,884 | 0.4612 | 2.6024 | 06/30/2025 |
| 4 | Global X Management Co. LLC | 1,024,749 | 76,479 | 10,759,864.5 | 0.0163 | 1.699 | 06/30/2025 |
| 5 | 683 Capital Management LLC | 889,000 | 4,000 | 9,334,500 | 0.8193 | 1.474 | 06/30/2025 |
| 6 | Hosking Partners LLP | 641,352 | -22,078 | 6,734,196 | 0.2076 | 1.0634 | 06/30/2025 |
| 7 | VR Advisory Services (USA) LLC | 416,109 | 0 | 4,369,144.5 | 1.114 | 0.6899 | 06/30/2025 |
| 8 | Helikon Investments Ltd. | 395,181 | -61,595 | 4,149,400.5 | 0.0827 | 0.6552 | 06/30/2025 |
| 9 | Glenorchy Capital Ltd. | 342,366 | -8,817 | 3,594,843 | 2.5868 | 0.5676 | 06/30/2025 |
| 10 | Systrade AG | 280,063 | 133,782 | 2,940,661.5 | 2.818 | 0.4643 | 06/30/2025 |
| 11 | Renta 4 Gestora SGIIC SA | 191,210 | 191,210 | 2,007,705 | 0.1611 | 0.317 | 06/30/2025 |
| 12 | Modern Capital Management Co. | 173,365 | 23,782 | 1,820,332.5 | 2.316 | 0.2874 | 06/30/2025 |
| 13 | NexPoint Asset Management LP | 169,419 | 0 | 1,778,899.5 | 0.1823 | 0.2809 | 06/30/2025 |
| 14 | Ping Capital Management, Inc. | 160,800 | 15,500 | 1,688,400 | 0.9823 | 0.2666 | 06/30/2025 |
| 15 | Crocodile Capital Partners GmbH | 142,563 | 62,563 | 1,496,911.5 | 0.7144 | 0.2364 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Macquarie Emerging Markets Fund | 1,676,544 | 0 | 17,603,712 | 0.2714 | 2.7797 | 06/30/2025 |
| 2 | Kopernik Global All Cap Fund | 1,070,103 | 356,812 | 11,236,081.5 | 0.3998 | 1.7742 | 06/30/2025 |
| 3 | Global X MSCI Argentina ETF | 947,329 | -152,125 | 9,946,954.5 | 1.1111 | 1.5707 | 07/31/2025 |
| 4 | Heptagon Fund ICAV - Kopernik Global All-Cap Equity Fund | 702,417 | 285,986 | 7,375,378.5 | 0.4346 | 1.1646 | 06/30/2025 |
| 5 | Macquarie VIP Emerging Markets Series | 294,024 | 0 | 3,087,252 | 0.4386 | 0.4875 | 06/30/2025 |
| 6 | Avantage Fund, FI | 191,210 | 191,210 | 2,007,705 | 1.6407 | 0.317 | 06/30/2025 |
| 7 | Modern Capital Tactical Income Fund | 173,365 | 23,782 | 1,820,332.5 | 2.1515 | 0.2874 | 06/30/2025 |
| 8 | White Fleet II SICAV - SGVP Global Value Equity Fund | 130,000 | 0 | 1,365,000 | 1.3447 | 0.2155 | 04/30/2025 |
| 9 | ART Global Macro | 120,000 | 60,000 | 1,260,000 | 0.9795 | 0.199 | 04/30/2025 |
| 10 | Warburg Value Fund | 120,000 | 0 | 1,260,000 | 1.1415 | 0.199 | 05/30/2025 |
| 11 | Lasixx Fund - Forte | 100,000 | 0 | 1,050,000 | 1.0413 | 0.1658 | 07/31/2025 |
| 12 | Kopernik Global Collective Investment Trust - Global All Cap | 91,364 | 39,488 | 959,322 | 0.4225 | 0.1515 | 06/30/2025 |
| 13 | iShares Global Agriculture Index ETF | 82,327 | 10,615 | 864,433.5 | 0.457 | 0.1365 | 07/31/2025 |
| 14 | St. James Place Unit Trust - Global Smaller Companies | 80,000 | 80,000 | 840,000 | 0.0189 | 0.1326 | 03/31/2025 |
| 15 | TIFF Multi Asset Fund | 62,360 | 24,452 | 654,780 | 0.0469 | 0.1034 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | GMT Capital Corp. | 1,569,608 | 1,569,608 | 16,480,884 | 0.4612 | 2.6024 | 06/30/2025 |
| 2 | Kopernik Global Investors LLC | 2,392,876 | 981,619 | 25,125,198 | 0.4877 | 3.9674 | 06/30/2025 |
| 3 | Renta 4 Gestora SGIIC SA | 191,210 | 191,210 | 2,007,705 | 0.1611 | 0.317 | 06/30/2025 |
| 4 | Systrade AG | 280,063 | 133,782 | 2,940,661.5 | 2.818 | 0.4643 | 06/30/2025 |
| 5 | MultiConcept Fund Management SA | 130,000 | 130,000 | 1,365,000 | 0.0314 | 0.2155 | 06/30/2025 |
| 6 | Point72 Asset Management LP | 92,900 | 92,900 | 975,450 | 0.0019 | 0.154 | 06/30/2025 |
| 7 | UBS Switzerland AG (Investment Management) | 127,750 | 92,428 | 1,341,375 | 0.0033 | 0.2118 | 06/30/2025 |
| 8 | Global X Management Co. LLC | 1,024,749 | 76,479 | 10,759,864.5 | 0.0163 | 1.699 | 06/30/2025 |
| 9 | Crocodile Capital Partners GmbH | 142,563 | 62,563 | 1,496,911.5 | 0.7144 | 0.2364 | 06/30/2025 |
| 10 | Third Year GmbH (Investment Mgmt) | 120,000 | 60,000 | 1,260,000 | 1.5694 | 0.199 | 04/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | UBS Securities LLC | 123,467 | -147,514 | 1,296,403.5 | 0.0006 | 0.2047 | 06/30/2025 |
| 2 | B. Riley Wealth Advisors, Inc. | 0 | -141,900 | 0 | 0 | 0 | |
| 3 | Marshall Wace LLP | 0 | -75,900 | 0 | 0 | 0 | |
| 4 | Citigroup Global Markets, Inc. (Investment Management) | 55,848 | -61,947 | 586,404 | 0.0005 | 0.0926 | 06/30/2025 |
| 5 | Helikon Investments Ltd. | 395,181 | -61,595 | 4,149,400.5 | 0.0827 | 0.6552 | 06/30/2025 |
| 6 | Boston Management & Research | 47,824 | -42,826 | 502,152 | 0.0009 | 0.0793 | 06/30/2025 |
| 7 | Manulife Investment Management (US) LLC | 0 | -39,195 | 0 | 0 | 0 | |
| 8 | Pictet Asset Management SA | 0 | -32,525 | 0 | 0 | 0 | |
| 9 | Susquehanna Financial Group LLLP | 0 | -30,999 | 0 | 0 | 0 | |
| 10 | Allianz Global Investors GmbH | 0 | -24,000 | 0 | 0 | 0 |
Data provided by FactSet Research Systems Inc.