| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Goehring & Rozencwajg Associates LLC | 1,413,889 | 0 | 18,790,584.81 | 1.1064 | 0.0888 | 11/30/2025 |
| 2 | Capital Research & Management Co. (World Investors) | 810,729 | 810,729 | 10,774,588.41 | 0.0012 | 0.0509 | 12/31/2025 |
| 3 | Peregrine Investment Management, Inc. | 563,190 | 563,190 | 7,484,795.1 | 5.4268 | 0.0354 | 12/31/2025 |
| 4 | Capital Research & Management Co. (International Investors) | 148,053 | 148,053 | 1,967,624.37 | 0.0003 | 0.0093 | 12/31/2025 |
| 5 | AzValor Asset Management SGIIC SA | 67,381 | -7,877 | 895,493.49 | 0.0263 | 0.0042 | 12/31/2025 |
| 6 | INFIBA Vermogensverwaltungs AG (Liechtenstein) | 64,564 | 0 | 858,055.56 | 1.6793 | 0.0041 | 06/30/2025 |
| 7 | Causeway Capital Management LLC | 54,124 | 29,127 | 719,307.96 | 0.0017 | 0.0034 | 02/27/2026 |
| 8 | Tuttle Capital Management LLC | 14,574 | -194 | 193,688.46 | 0.033 | 0.0009 | 02/27/2026 |
| 9 | GAMMA Investing LLC | 10,897 | 2,986 | 144,821.13 | 0.0077 | 0.0007 | 12/31/2025 |
| 10 | RhumbLine Advisers LP | 6,850 | -1,638 | 91,036.5 | 0.0001 | 0.0004 | 12/31/2025 |
| 11 | Capital International Ltd. | 6,844 | 6,844 | 90,956.76 | 0 | 0.0004 | 12/31/2025 |
| 12 | Aperio Group LLC | 4,728 | 4,728 | 62,835.12 | 0 | 0.0003 | 11/30/2025 |
| 13 | BTG Pactual Gestao E Consultoria De Investimentos Ltda. | 3,820 | 0 | 50,767.8 | 0.0031 | 0.0002 | 11/30/2025 |
| 14 | Horizon Kinetics Asset Management LLC | 3,214 | 0 | 42,714.06 | 0.0004 | 0.0002 | 12/31/2025 |
| 15 | Kohmann Bosshard Financial Services LLC | 613 | 613 | 8,146.77 | 0.0008 | 0 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Goehring & Rozencwajg Resources Fund | 1,413,889 | 0 | 18,790,584.81 | 2.1841 | 0.0888 | 11/30/2025 |
| 2 | American Funds New World Fund | 769,421 | 769,421 | 10,225,605.09 | 0.0147 | 0.0483 | 12/31/2025 |
| 3 | American Funds Developing World Growth & Income Fund | 148,053 | 148,053 | 1,967,624.37 | 0.0937 | 0.0093 | 12/31/2025 |
| 4 | Azvalor Managers, FI | 67,381 | -7,877 | 895,493.49 | 0.4808 | 0.0042 | 12/31/2025 |
| 5 | Chatrier Value Fund | 64,564 | 0 | 858,055.56 | 5.0184 | 0.0041 | 06/30/2025 |
| 6 | ActivePassive International Equity ETF | 54,124 | 29,127 | 719,307.96 | 0.0777 | 0.0034 | 02/27/2026 |
| 7 | American Funds Insurance Series - New World Fund | 41,308 | 41,308 | 548,983.32 | 0.0147 | 0.0026 | 12/31/2025 |
| 8 | National Security Emerging Markets Index ETF | 14,574 | -194 | 193,688.46 | 0.5621 | 0.0009 | 02/27/2026 |
| 9 | CIF - Capital Group New World Fund LUX | 6,844 | 6,844 | 90,956.76 | 0.0146 | 0.0004 | 12/31/2025 |
| 10 | Aquarius International Fund | 4,728 | 4,728 | 62,835.12 | 0.0089 | 0.0003 | 11/30/2025 |
| 11 | Gaf FIM Credito Privado Investimento No Exterior | 3,820 | 0 | 50,767.8 | 0.609 | 0.0002 | 11/30/2025 |
| 12 | Kinetics Market Opportunities Portfolio | 2,455 | 0 | 32,626.95 | 0.0106 | 0.0002 | 12/31/2025 |
| 13 | Kinetics Global Portfolio | 736 | 0 | 9,781.44 | 0.0179 | 0 | 12/31/2025 |
| 14 | Avantis Total Equity Markets ETF | 98 | 98 | 1,302.42 | 0.0002 | 0 | 02/27/2026 |
| 15 | Kinetics Spin-off & Corporate Restructuring Fund (The) | 22 | 0 | 292.38 | 0.0007 | 0 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Capital Research & Management Co. (World Investors) | 810,729 | 810,729 | 10,774,588.41 | 0.0012 | 0.0509 | 12/31/2025 |
| 2 | Peregrine Investment Management, Inc. | 563,190 | 563,190 | 7,484,795.1 | 5.4268 | 0.0354 | 12/31/2025 |
| 3 | Capital Research & Management Co. (International Investors) | 148,053 | 148,053 | 1,967,624.37 | 0.0003 | 0.0093 | 12/31/2025 |
| 4 | Causeway Capital Management LLC | 54,124 | 29,127 | 719,307.96 | 0.0017 | 0.0034 | 02/27/2026 |
| 5 | Capital International Ltd. | 6,844 | 6,844 | 90,956.76 | 0 | 0.0004 | 12/31/2025 |
| 6 | Aperio Group LLC | 4,728 | 4,728 | 62,835.12 | 0 | 0.0003 | 11/30/2025 |
| 7 | GAMMA Investing LLC | 10,897 | 2,986 | 144,821.13 | 0.0077 | 0.0007 | 12/31/2025 |
| 8 | Kohmann Bosshard Financial Services LLC | 613 | 613 | 8,146.77 | 0.0008 | 0 | 12/31/2025 |
| 9 | ORG Partners LLC | 600 | 600 | 7,974 | 0.0014 | 0 | 12/31/2025 |
| 10 | American Century Investment Management, Inc. | 98 | 98 | 1,302.42 | 0 | 0 | 02/27/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Yousif Capital Management LLC | 0 | -33,487 | 0 | 0 | 0 | |
| 2 | Hara Capital LLC | 0 | -28,556 | 0 | 0 | 0 | |
| 3 | Corient IA LLC | 0 | -12,279 | 0 | 0 | 0 | |
| 4 | AzValor Asset Management SGIIC SA | 67,381 | -7,877 | 895,493.49 | 0.0263 | 0.0042 | 12/31/2025 |
| 5 | MBH Investment Fund Management Private Ltd. Co. | 0 | -3,872 | 0 | 0 | 0 | |
| 6 | RhumbLine Advisers LP | 6,850 | -1,638 | 91,036.5 | 0.0001 | 0.0004 | 12/31/2025 |
| 7 | FNY Investment Advisers LLC | 0 | -500 | 0 | 0 | 0 | |
| 8 | Brooklyn Investment Group LLC | 0 | -340 | 0 | 0 | 0 | |
| 9 | Tuttle Capital Management LLC | 14,574 | -194 | 193,688.46 | 0.033 | 0.0009 | 02/27/2026 |
Data provided by FactSet Research Systems Inc.