| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Schroder Investment Management Ltd. | 3,890,032 | -177,043 | 87,619,858.77 | 0.0425 | 1.4265 | 01/31/2025 |
| 2 | Trigon Asset Management AS | 1,633,782 | 0 | 36,799,632.52 | 4.4936 | 0.5991 | 06/30/2024 |
| 3 | Capital Research & Management Co. (World Investors) | 1,300,992 | 410,663 | 29,303,804.01 | 0.0034 | 0.4771 | 03/31/2025 |
| 4 | Kopernik Global Investors LLC | 1,038,086 | -837,537 | 23,382,056.68 | 0.4381 | 0.3807 | 03/31/2025 |
| 5 | HSBC Global Asset Management (UK) Ltd. | 906,948 | -26,277 | 20,428,278.14 | 0.0145 | 0.3326 | 02/28/2025 |
| 6 | Santa Lucia Asset Management Pte. Ltd. | 800,000 | 0 | 18,019,360 | 2.4142 | 0.2934 | 01/31/2025 |
| 7 | East Capital Financial Services AB | 605,900 | 169,314 | 13,647,412.78 | 1.3587 | 0.2222 | 03/28/2025 |
| 8 | Coeli Asset Management AB | 578,219 | 0 | 13,023,920.4 | 2.2485 | 0.212 | 07/25/2024 |
| 9 | Franklin Templeton Investments (ME) Ltd. | 536,209 | 0 | 12,077,678.76 | 2.9919 | 0.1966 | 12/31/2024 |
| 10 | Capital Research & Management Co. (International Investors) | 511,985 | -43,938 | 11,532,052.54 | 0.0021 | 0.1877 | 03/31/2025 |
| 11 | Legal & General Investment Management Ltd. | 489,912 | 96,509 | 11,034,875.87 | 0.0042 | 0.1796 | 02/28/2025 |
| 12 | Templeton Asset Management Ltd. | 434,707 | 0 | 9,791,427.41 | 0.0648 | 0.1594 | 03/31/2025 |
| 13 | JPMorgan Asset Management (UK) Ltd. | 429,937 | -791,811 | 9,683,986.98 | 0.0072 | 0.1577 | 03/31/2025 |
| 14 | KBI Global Investors Ltd. | 330,511 | -112,708 | 7,444,495.87 | 0.0721 | 0.1212 | 03/31/2025 |
| 15 | Ashmore Investment Management Ltd. | 323,988 | -22,675 | 7,297,570.51 | 1.217 | 0.1188 | 01/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Schroder ISF - Frontier Markets Equity | 1,609,365 | -71,335 | 36,249,659.13 | 5.778 | 0.5901 | 01/31/2025 |
| 2 | American Funds Insurance Series - Global Growth Fund | 1,300,992 | 410,663 | 29,303,804.01 | 0.3753 | 0.4771 | 03/31/2025 |
| 3 | Schroder ISF - Global Emerging Market Opportunities | 1,226,277 | 0 | 27,620,908.4 | 1.4768 | 0.4497 | 01/31/2025 |
| 4 | HSBC GIF - Frontier Markets Fund | 906,948 | -26,277 | 20,428,278.14 | 3.6775 | 0.3326 | 02/28/2025 |
| 5 | Trigon New Europe Fund | 872,528 | 0 | 19,652,995.18 | 4.8405 | 0.32 | 06/30/2023 |
| 6 | CIM Investment Fund ICAV - Dividend Income Fund | 800,000 | 0 | 18,019,360 | 2.6783 | 0.2934 | 01/31/2025 |
| 7 | TRIGON - New Europe Fund | 743,788 | 0 | 16,753,229.67 | 3.8262 | 0.2727 | 06/30/2024 |
| 8 | Schroder ISF - Emerging Europe | 676,386 | -136,168 | 15,235,053.54 | 2.5114 | 0.248 | 01/31/2025 |
| 9 | East Capital - Global Frontier Markets Fund | 605,900 | 169,314 | 13,647,412.78 | 4.5918 | 0.2222 | 03/28/2025 |
| 10 | Coeli SICAV I - Frontier Markets | 578,219 | 0 | 13,023,920.4 | 6.423 | 0.212 | 07/25/2024 |
| 11 | FTIF SICAV - Templeton Frontier Markets Fund | 536,209 | 0 | 12,077,678.76 | 4.143 | 0.1966 | 12/31/2024 |
| 12 | American Funds Developing World Growth & Income Fund | 511,985 | -43,938 | 11,532,052.54 | 0.6448 | 0.1877 | 03/31/2025 |
| 13 | L&G ICAV - Frontier Markets Equity Fund | 489,912 | 96,509 | 11,034,875.87 | 2.1864 | 0.1796 | 02/28/2025 |
| 14 | Kopernik Global All Cap Fund | 456,543 | -482,909 | 10,283,265.84 | 0.3751 | 0.1674 | 03/31/2025 |
| 15 | Heptagon Fund ICAV - Kopernik Global All-Cap Equity Fund | 365,005 | -188,622 | 8,221,445.62 | 0.6099 | 0.1338 | 02/28/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Capital Research & Management Co. (World Investors) | 1,300,992 | 410,663 | 29,303,804.01 | 0.0034 | 0.4771 | 03/31/2025 |
| 2 | Generali Investments CEE Investicni Spolecnost AS | 226,987 | 219,959 | 5,112,700.59 | 0.4913 | 0.0832 | 03/31/2025 |
| 3 | East Capital Financial Services AB | 605,900 | 169,314 | 13,647,412.78 | 1.3587 | 0.2222 | 03/28/2025 |
| 4 | Wellington Management International Ltd. | 109,142 | 109,142 | 2,458,336.24 | 0.0126 | 0.04 | 02/28/2025 |
| 5 | Legal & General Investment Management Ltd. | 489,912 | 96,509 | 11,034,875.87 | 0.0042 | 0.1796 | 02/28/2025 |
| 6 | Abax Investments (Pty) Ltd. | 60,000 | 60,000 | 1,351,452 | 0.189 | 0.022 | 03/31/2025 |
| 7 | Axxion SA (Luxembourg) | 28,000 | 8,000 | 630,677.6 | 0.0772 | 0.0103 | 04/30/2025 |
| 8 | BlackRock Investment Management LLC | 32,569 | 4,491 | 733,590.67 | 0.0004 | 0.0119 | 01/31/2025 |
| 9 | Lincoln Financial Investments Corp. | 3,455 | 3,455 | 77,821.11 | 0.002 | 0.0013 | 12/31/2024 |
| 10 | Harding Loevner LP | 286,436 | 2,177 | 6,451,741.75 | 0.0219 | 0.105 | 01/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Kopernik Global Investors LLC | 1,038,086 | -837,537 | 23,382,056.68 | 0.4381 | 0.3807 | 03/31/2025 |
| 2 | JPMorgan Asset Management (UK) Ltd. | 429,937 | -791,811 | 9,683,986.98 | 0.0072 | 0.1577 | 03/31/2025 |
| 3 | Fiera Capital (UK) Ltd. | 0 | -382,101 | 0 | 0 | 0 | |
| 4 | Swedbank Robur Fonder AB | 0 | -258,947 | 0 | 0 | 0 | |
| 5 | Schroder Investment Management Ltd. | 3,890,032 | -177,043 | 87,619,858.77 | 0.0425 | 1.4265 | 01/31/2025 |
| 6 | BlackRock Investment Management (UK) Ltd. | 271,549 | -143,866 | 6,116,423.99 | 0.0009 | 0.0996 | 04/30/2025 |
| 7 | KBI Global Investors Ltd. | 330,511 | -112,708 | 7,444,495.87 | 0.0721 | 0.1212 | 03/31/2025 |
| 8 | Capital Research & Management Co. (International Investors) | 511,985 | -43,938 | 11,532,052.54 | 0.0021 | 0.1877 | 03/31/2025 |
| 9 | Capital International, Inc. (Investment Management Singapore) | 102,678 | -33,127 | 2,312,739.81 | 0.3414 | 0.0377 | 03/31/2025 |
| 10 | Parametric Portfolio Associates LLC | 64,801 | -29,946 | 1,459,590.68 | 0.0005 | 0.0238 | 02/28/2025 |
Data provided by FactSet Research Systems Inc.