| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | VR Advisory Services (USA) LLC | 12,413,583 | 12,413,583 | 35,378,711.55 | 8.9736 | 4.4116 | 03/31/2025 |
| 2 | Brightlight Capital Management LP | 6,022,840 | 6,022,840 | 17,165,094 | 7.8635 | 2.1404 | 03/31/2025 |
| 3 | Tekne Capital Management LLC | 5,855,103 | 5,855,103 | 16,687,043.55 | 5.87 | 2.0808 | 03/31/2025 |
| 4 | Hosking Partners LLP | 3,880,285 | -214,613 | 11,058,812.25 | 0.3635 | 1.379 | 03/31/2025 |
| 5 | Luxor Capital Group LP | 3,603,784 | 3,603,784 | 10,270,784.4 | 0.8802 | 1.2807 | 03/31/2025 |
| 6 | BlackRock Investment Management (UK) Ltd. | 1,887,357 | 815,868 | 5,378,967.45 | 0.0008 | 0.6707 | 03/31/2025 |
| 7 | T. Rowe Price International Ltd. | 1,835,033 | -422,700 | 5,229,844.05 | 0.0035 | 0.6521 | 03/31/2025 |
| 8 | BIT Capital GmbH | 1,569,011 | 1,552,820 | 4,471,681.35 | 0.3881 | 0.5576 | 03/31/2025 |
| 9 | BNP Paribas Financial Markets | 942,963 | 942,963 | 2,687,444.55 | 0.0019 | 0.3351 | 03/31/2025 |
| 10 | East Capital Financial Services AB | 854,294 | -37,863 | 2,434,737.9 | 0.226 | 0.3036 | 04/30/2025 |
| 11 | Morgan Stanley & Co. LLC | 847,407 | 368,664 | 2,415,109.95 | 0.0009 | 0.3012 | 03/31/2025 |
| 12 | SSgA Funds Management, Inc. | 729,332 | 28,282 | 2,078,596.2 | 0.0001 | 0.2592 | 03/31/2025 |
| 13 | East Capital International AB (Russia) | 380,000 | 0 | 1,083,000 | 0.2589 | 0.135 | 04/30/2025 |
| 14 | Renaissance Technologies LLC | 347,500 | -766,300 | 990,375 | 0.0014 | 0.1235 | 03/31/2025 |
| 15 | Russell Investment Management LLC | 204,427 | 216 | 582,616.95 | 0.0007 | 0.0727 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | BlackRock Strategic Fds. - Emerging Markets Equity Strategies | 1,887,357 | 815,868 | 5,378,967.45 | 0.8622 | 0.6707 | 03/31/2025 |
| 2 | T Rowe Price Emerging Europe Fund | 1,835,033 | -422,700 | 5,229,844.05 | 0.772 | 0.6521 | 03/31/2025 |
| 3 | SPDR Portfolio Emerging Markets ETF | 628,820 | 58,184 | 1,792,137 | 0.015 | 0.2235 | 05/30/2025 |
| 4 | East Capital - Global Emerging Markets Sustainable | 380,000 | 0 | 1,083,000 | 0.2517 | 0.135 | 04/30/2025 |
| 5 | East Capital - Balkans | 367,163 | -132,700 | 1,046,414.55 | 1.9146 | 0.1305 | 04/30/2025 |
| 6 | East Capital SICAV - New Europe | 300,794 | 163,737 | 857,262.9 | 0.9615 | 0.1069 | 04/30/2025 |
| 7 | East Capital - Eastern Europe | 186,337 | -68,900 | 531,060.45 | 1.0489 | 0.0662 | 02/28/2025 |
| 8 | Global X E-commerce ETF | 163,274 | 163,274 | 465,330.9 | 0.659 | 0.058 | 05/30/2025 |
| 9 | Macquarie Emerging Markets Fund | 144,600 | 0 | 412,110 | 0.0067 | 0.0514 | 04/30/2025 |
| 10 | SPDR S&P Emerging Markets Small Cap ETF | 132,959 | -8,342 | 378,933.15 | 0.0544 | 0.0473 | 05/30/2025 |
| 11 | Amundi Funds - Emerging Europe Middle East & Africa | 127,655 | -117,099 | 363,816.75 | 0.3569 | 0.0454 | 12/31/2024 |
| 12 | Global Online Retail | 100,000 | 0 | 285,000 | 1.8217 | 0.0355 | 03/31/2025 |
| 13 | Amundi Eastern Europe Stock | 75,443 | 9,282 | 215,012.55 | 0.4446 | 0.0268 | 04/30/2025 |
| 14 | Fidelity Nasdaq Composite Index Fund | 66,391 | -178 | 189,214.35 | 0.001 | 0.0236 | 04/30/2025 |
| 15 | Eaton Vance Ser. Tr. II - Parametric Tax Managed EM Fund | 49,300 | 49,300 | 140,505 | 0.0273 | 0.0175 | 04/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | VR Advisory Services (USA) LLC | 12,413,583 | 12,413,583 | 35,378,711.55 | 8.9736 | 4.4116 | 03/31/2025 |
| 2 | Brightlight Capital Management LP | 6,022,840 | 6,022,840 | 17,165,094 | 7.8635 | 2.1404 | 03/31/2025 |
| 3 | Tekne Capital Management LLC | 5,855,103 | 5,855,103 | 16,687,043.55 | 5.87 | 2.0808 | 03/31/2025 |
| 4 | Luxor Capital Group LP | 3,603,784 | 3,603,784 | 10,270,784.4 | 0.8802 | 1.2807 | 03/31/2025 |
| 5 | BIT Capital GmbH | 1,569,011 | 1,552,820 | 4,471,681.35 | 0.3881 | 0.5576 | 03/31/2025 |
| 6 | BNP Paribas Financial Markets | 942,963 | 942,963 | 2,687,444.55 | 0.0019 | 0.3351 | 03/31/2025 |
| 7 | BlackRock Investment Management (UK) Ltd. | 1,887,357 | 815,868 | 5,378,967.45 | 0.0008 | 0.6707 | 03/31/2025 |
| 8 | Morgan Stanley & Co. LLC | 847,407 | 368,664 | 2,415,109.95 | 0.0009 | 0.3012 | 03/31/2025 |
| 9 | Itau USA Asset Management, Inc. | 186,107 | 186,107 | 530,404.95 | 0.0128 | 0.0661 | 03/31/2025 |
| 10 | ABS Investment Management LLC | 185,300 | 185,300 | 528,105 | 0.2892 | 0.0659 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Evli Fund Management Co. Ltd. | 0 | -2,500,000 | 0 | 0 | 0 | |
| 2 | Renaissance Technologies LLC | 347,500 | -766,300 | 990,375 | 0.0014 | 0.1235 | 03/31/2025 |
| 3 | Baring Asset Management Ltd. | 0 | -708,286 | 0 | 0 | 0 | |
| 4 | T. Rowe Price International Ltd. | 1,835,033 | -422,700 | 5,229,844.05 | 0.0035 | 0.6521 | 03/31/2025 |
| 5 | Acadian Asset Management LLC | 0 | -413,141 | 0 | 0 | 0 | |
| 6 | Swedbank Robur Fonder AB | 0 | -360,406 | 0 | 0 | 0 | |
| 7 | Millennium Management LLC | 164,132 | -337,949 | 467,776.2 | 0.0004 | 0.0583 | 03/31/2025 |
| 8 | Two Sigma Investments LP | 0 | -288,011 | 0 | 0 | 0 | |
| 9 | Hosking Partners LLP | 3,880,285 | -214,613 | 11,058,812.25 | 0.3635 | 1.379 | 03/31/2025 |
| 10 | Two Sigma Advisers LP | 60,000 | -186,600 | 171,000 | 0.0004 | 0.0213 | 03/31/2025 |
Data provided by FactSet Research Systems Inc.