| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Capital Research & Management Co. (World Investors) | 56,451,906 | 885,385 | 156,371,779.62 | 0.0148 | 1.6712 | 01/30/2026 |
| 2 | Lazard Asset Management LLC | 45,432,104 | 5,100,361 | 125,846,928.08 | 0.0926 | 1.345 | 12/31/2025 |
| 3 | ARGA Investment Management LP | 16,946,587 | -874,852 | 46,942,045.99 | 0.2291 | 0.5017 | 10/31/2025 |
| 4 | Old Mutual Investment Group (Pty) Ltd. | 15,169,682 | 484,345 | 42,020,019.14 | 0.6323 | 0.4491 | 09/30/2025 |
| 5 | M&G Investment Management Ltd. | 12,121,742 | 972,927 | 33,577,225.34 | 0.0391 | 0.3589 | 10/31/2025 |
| 6 | Schroder Investment Management Ltd. | 11,903,385 | -3,973,794 | 32,972,376.45 | 0.0126 | 0.3524 | 12/31/2025 |
| 7 | Nordea Investment Management AB | 11,626,047 | 781,761 | 32,204,150.19 | 0.0352 | 0.3442 | 12/31/2025 |
| 8 | Dimensional Fund Advisors LP | 11,058,133 | -39,320 | 30,631,028.41 | 0.0042 | 0.3274 | 01/30/2026 |
| 9 | American Century Investment Management, Inc. | 9,731,276 | 2,801,184 | 26,955,634.52 | 0.0097 | 0.2881 | 01/30/2026 |
| 10 | RBC Global Asset Management (UK) Ltd. | 8,550,520 | 162,728 | 23,684,940.4 | 0.0387 | 0.2531 | 11/28/2025 |
| 11 | East Capital Asia Ltd. | 7,286,545 | -72,600 | 20,183,729.65 | 1.7528 | 0.2157 | 12/30/2025 |
| 12 | HSBC Global Asset Management (UK) Ltd. | 6,215,677 | 991,231 | 17,217,425.29 | 0.0096 | 0.184 | 11/30/2025 |
| 13 | BlackRock Investment Management (UK) Ltd. | 6,167,373 | 0 | 17,083,623.21 | 0.002 | 0.1826 | 11/30/2025 |
| 14 | Fiera Capital (UK) Ltd. | 6,078,102 | -106,563 | 16,836,342.54 | 0.3888 | 0.1799 | 10/31/2025 |
| 15 | Harding Loevner LP | 5,973,290 | -1,897,079 | 16,546,013.3 | 0.058 | 0.1768 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | American Funds New World Fund | 51,950,956 | -122,610 | 143,904,148.12 | 0.183 | 1.5379 | 12/31/2025 |
| 2 | Lazard Emerging Markets Equity Portfolio | 27,853,366 | 4,468,603 | 77,153,823.82 | 1.0234 | 0.8246 | 12/31/2025 |
| 3 | Vanguard International Value Fund | 16,946,587 | -874,852 | 46,942,045.99 | 0.367 | 0.5017 | 10/31/2025 |
| 4 | Russell Invt. Co. Plc - Old Mutual African Frontiers Fund | 15,169,682 | 484,345 | 42,020,019.14 | 10.3904 | 0.4491 | 09/30/2025 |
| 5 | Schroder ISF - Frontier Markets Equity | 11,596,050 | 2,568,159 | 32,121,058.5 | 3.6226 | 0.3433 | 12/31/2025 |
| 6 | Avantis Emerging Markets Equity ETF | 9,139,298 | 2,698,587 | 25,315,855.46 | 0.1318 | 0.2706 | 01/30/2026 |
| 7 | M&G Investment Funds (7) OEIC - Global Emerging Markets Fund | 7,579,127 | 42,762 | 20,994,181.79 | 1.4873 | 0.2244 | 10/31/2025 |
| 8 | East Capital - Global Frontier Markets Fund | 7,286,545 | -72,600 | 20,183,729.65 | 5.9544 | 0.2157 | 12/30/2025 |
| 9 | Nordea 2 - BetaPlus Enhanced EM. Sustainable Equity Fund | 6,973,209 | 493,198 | 19,315,788.93 | 0.5795 | 0.2064 | 12/31/2025 |
| 10 | Lazard Investment Funds - Emerging Markets Fund | 6,287,744 | 0 | 17,417,050.88 | 1.0461 | 0.1861 | 03/31/2025 |
| 11 | RBC Emerging Markets Dividend Fund | 6,280,451 | 0 | 17,396,849.27 | 1.03 | 0.1859 | 06/30/2025 |
| 12 | HSBC Global Investment Funds - Frontier Markets | 6,215,677 | 991,231 | 17,217,425.29 | 1.7579 | 0.184 | 11/30/2025 |
| 13 | BlackRock Strategic Fds. - Emerging Markets Equity Strategies | 6,167,373 | 0 | 17,083,623.21 | 1.3322 | 0.1826 | 11/30/2025 |
| 14 | DFA Emerging Markets Core Equity 2 Portfolio | 5,424,524 | -204,919 | 15,025,931.48 | 0.0393 | 0.1606 | 11/30/2025 |
| 15 | Magna Umbrella Fund Plc - New Frontiers Fund | 4,593,618 | 0 | 12,724,321.86 | 1.3946 | 0.136 | 10/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Lazard Asset Management LLC | 45,432,104 | 5,100,361 | 125,846,928.08 | 0.0926 | 1.345 | 12/31/2025 |
| 2 | Franklin Templeton Investments (ME) Ltd. | 3,561,679 | 3,561,679 | 9,865,850.83 | 1.9769 | 0.1054 | 12/31/2025 |
| 3 | American Century Investment Management, Inc. | 9,731,276 | 2,801,184 | 26,955,634.52 | 0.0097 | 0.2881 | 01/30/2026 |
| 4 | Coeli Asset Management AB | 4,559,346 | 1,116,017 | 12,629,388.42 | 1.6599 | 0.135 | 01/30/2026 |
| 5 | HSBC Global Asset Management (UK) Ltd. | 6,215,677 | 991,231 | 17,217,425.29 | 0.0096 | 0.184 | 11/30/2025 |
| 6 | M&G Investment Management Ltd. | 12,121,742 | 972,927 | 33,577,225.34 | 0.0391 | 0.3589 | 10/31/2025 |
| 7 | Capital Research & Management Co. (World Investors) | 56,451,906 | 885,385 | 156,371,779.62 | 0.0148 | 1.6712 | 01/30/2026 |
| 8 | Ashmore Investment Management Ltd. | 923,701 | 877,578 | 2,558,651.77 | 0.2143 | 0.0273 | 12/31/2025 |
| 9 | Nordea Investment Management AB | 11,626,047 | 781,761 | 32,204,150.19 | 0.0352 | 0.3442 | 12/31/2025 |
| 10 | Connor, Clark & Lunn Investment Management Ltd. | 781,773 | 755,687 | 2,165,511.21 | 0.0049 | 0.0231 | 12/31/2025 |
| # | 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. | 11,903,385 | -3,973,794 | 32,972,376.45 | 0.0126 | 0.3524 | 12/31/2025 |
| 3 | Harding Loevner LP | 5,973,290 | -1,897,079 | 16,546,013.3 | 0.058 | 0.1768 | 12/31/2025 |
| 4 | ARGA Investment Management LP | 16,946,587 | -874,852 | 46,942,045.99 | 0.2291 | 0.5017 | 10/31/2025 |
| 5 | Morgan Stanley Investment Management, Inc. | 2,594,154 | -598,100 | 7,185,806.58 | 0.0077 | 0.0768 | 01/31/2026 |
| 6 | Nykredit Bank A/S (Investment Management) | 379,736 | -446,604 | 1,051,868.72 | 0.0048 | 0.0112 | 12/31/2025 |
| 7 | Charles Schwab Investment Management, Inc. | 3,258,035 | -291,304 | 9,024,756.95 | 0.0001 | 0.0965 | 01/30/2026 |
| 8 | Handelsbanken Fonder AB | 33,773 | -227,193 | 93,551.21 | 0.0001 | 0.001 | 12/31/2025 |
| 9 | ABN AMRO Investment Solutions SA | 0 | -147,259 | 0 | 0 | 0 | |
| 10 | Fiera Capital (UK) Ltd. | 6,078,102 | -106,563 | 16,836,342.54 | 0.3888 | 0.1799 | 10/31/2025 |
Data provided by FactSet Research Systems Inc.