| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Van Eck Associates Corp. | 17,869,017 | 579,407 | 686,348,942.97 | 0.4041 | 7.0429 | 12/31/2025 |
| 2 | Westwood Global Investments LLC | 11,273,613 | -871,110 | 433,019,475.33 | 10.2175 | 4.4434 | 12/31/2025 |
| 3 | FIL Investments International | 9,800,409 | 1,528,441 | 376,433,709.69 | 0.2464 | 3.8628 | 12/31/2025 |
| 4 | Global X Management Co. LLC | 7,983,429 | 2,785,928 | 306,643,507.89 | 0.3236 | 3.1466 | 12/31/2025 |
| 5 | BlackRock Fund Advisors | 5,865,973 | -1,233,431 | 225,312,022.93 | 0.0046 | 2.312 | 12/31/2025 |
| 6 | Tidal Investments LLC | 3,745,823 | 887,304 | 143,877,061.43 | 0.535 | 1.4764 | 12/31/2025 |
| 7 | FIL Investment Advisors (UK) Ltd. | 3,673,500 | 673,853 | 141,099,135 | 0.5046 | 1.4479 | 12/31/2025 |
| 8 | SSgA Funds Management, Inc. | 3,586,205 | 295,529 | 137,746,134.05 | 0.0043 | 1.4135 | 12/31/2025 |
| 9 | Nomura Investment Management Business Trust | 3,052,983 | -863,137 | 117,265,077.03 | 0.1126 | 1.2033 | 12/31/2025 |
| 10 | Robeco Institutional Asset Management BV | 2,979,757 | 2,632,553 | 114,452,466.37 | 0.0986 | 1.1744 | 12/31/2025 |
| 11 | Acadian Asset Management LLC | 2,211,649 | 834,332 | 84,949,438.09 | 0.1155 | 0.8717 | 12/31/2025 |
| 12 | American Century Investment Management, Inc. | 2,055,056 | 1,350,117 | 78,934,700.96 | 0.0285 | 0.81 | 12/31/2025 |
| 13 | BlackRock Advisors (UK) Ltd. | 1,861,136 | -872,823 | 71,486,233.76 | 0.0074 | 0.7336 | 12/31/2025 |
| 14 | Arrowstreet Capital LP | 1,742,829 | 1,721,796 | 66,942,061.89 | 0.0354 | 0.6869 | 12/31/2025 |
| 15 | Artisan Partners LP | 1,511,011 | 293,635 | 58,037,932.51 | 0.0444 | 0.5956 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | VanEck Gold Miners ETF | 8,913,662 | 1,301,041 | 342,373,757.42 | 1.0647 | 3.5133 | 01/30/2026 |
| 2 | Global X Silver Miners ETF | 6,982,184 | 2,206,868 | 268,185,687.44 | 3.8157 | 2.752 | 01/30/2026 |
| 3 | VanEck Junior Gold Miners ETF | 5,112,808 | -397,483 | 196,382,955.28 | 1.6859 | 2.0152 | 01/30/2026 |
| 4 | Amplify Junior Silver Miners ETF | 4,205,406 | 1,094,769 | 161,529,644.46 | 2.7936 | 1.6575 | 01/30/2026 |
| 5 | Strategic Advisers Fidelity Emerging Markets Fund | 3,247,382 | 609,231 | 124,731,942.62 | 0.3317 | 1.2799 | 12/31/2025 |
| 6 | Fidelity Funds SICAV - Emerging Markets Fund | 3,219,239 | 159,603 | 123,650,969.99 | 3.4193 | 1.2688 | 12/31/2025 |
| 7 | Macquarie Emerging Markets Fund | 2,495,000 | -722,400 | 95,832,950 | 0.881 | 0.9834 | 12/31/2025 |
| 8 | Global X Silver Miners UCITS ETF | 1,880,648 | 1,058,713 | 72,235,689.68 | 3.6291 | 0.7412 | 01/30/2026 |
| 9 | iShares Core MSCI Emerging Markets ETF | 1,822,569 | 237,500 | 70,004,875.29 | 0.0488 | 0.7184 | 01/30/2026 |
| 10 | VanEck UCITS ETFs Plc - Gold Miners UCITS ETF | 1,208,164 | 322,569 | 46,405,579.24 | 1.0667 | 0.4762 | 01/30/2026 |
| 11 | Avantis Emerging Markets Equity ETF | 1,032,347 | 590,567 | 39,652,448.27 | 0.2052 | 0.4069 | 01/30/2026 |
| 12 | Fidelity Institutional Funds - Emerging Markets Fund | 879,906 | 0 | 33,797,189.46 | 1.557 | 0.3468 | 02/28/2025 |
| 13 | Robeco Capital Gr. Fds. - Emerging Stars Equities | 871,642 | 871,642 | 33,479,769.22 | 0.7959 | 0.3436 | 12/31/2025 |
| 14 | iShares MSCI Peru & Global Exposure ETF | 785,914 | 353,325 | 30,186,956.74 | 5.5032 | 0.3098 | 01/30/2026 |
| 15 | VanEck UCITS ETFs Plc - Junior Gold Miners UCITS ETF | 704,260 | -58,121 | 27,050,626.6 | 1.6907 | 0.2776 | 01/30/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Global X Management Co. LLC | 7,983,429 | 2,785,928 | 306,643,507.89 | 0.3236 | 3.1466 | 12/31/2025 |
| 2 | Robeco Institutional Asset Management BV | 2,979,757 | 2,632,553 | 114,452,466.37 | 0.0986 | 1.1744 | 12/31/2025 |
| 3 | Arrowstreet Capital LP | 1,742,829 | 1,721,796 | 66,942,061.89 | 0.0354 | 0.6869 | 12/31/2025 |
| 4 | FIL Investments International | 9,800,409 | 1,528,441 | 376,433,709.69 | 0.2464 | 3.8628 | 12/31/2025 |
| 5 | American Century Investment Management, Inc. | 2,055,056 | 1,350,117 | 78,934,700.96 | 0.0285 | 0.81 | 12/31/2025 |
| 6 | PFA Pension, Forsikringsaktieselskab (Investment Management) | 1,099,592 | 1,099,592 | 42,235,328.72 | 0.1204 | 0.4334 | 12/31/2025 |
| 7 | Tidal Investments LLC | 3,745,823 | 887,304 | 143,877,061.43 | 0.535 | 1.4764 | 12/31/2025 |
| 8 | Acadian Asset Management LLC | 2,211,649 | 834,332 | 84,949,438.09 | 0.1155 | 0.8717 | 12/31/2025 |
| 9 | DWS Investments (UK) Ltd. | 900,967 | 735,223 | 34,606,142.47 | 0.0141 | 0.3551 | 12/31/2025 |
| 10 | Citadel Securities LLC | 684,368 | 684,368 | 26,286,574.88 | 0.0544 | 0.2697 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | AFP Integra SA (Investment Management) | 0 | -13,495,166 | 0 | 0 | 0 | |
| 2 | The Bank of Nova Scotia (Private Banking) | 1,377,311 | -6,093,004 | 52,902,515.51 | 0.0765 | 0.5429 | 12/31/2025 |
| 3 | BlackRock Fund Advisors | 5,865,973 | -1,233,431 | 225,312,022.93 | 0.0046 | 2.312 | 12/31/2025 |
| 4 | Sagil Capital LLP | 0 | -1,085,207 | 0 | 0 | 0 | |
| 5 | JPMorgan Securities LLC (Investment Management) | 1,307,386 | -937,616 | 50,216,696.26 | 0.0332 | 0.5153 | 12/31/2025 |
| 6 | BlackRock Advisors (UK) Ltd. | 1,861,136 | -872,823 | 71,486,233.76 | 0.0074 | 0.7336 | 12/31/2025 |
| 7 | Westwood Global Investments LLC | 11,273,613 | -871,110 | 433,019,475.33 | 10.2175 | 4.4434 | 12/31/2025 |
| 8 | Nomura Investment Management Business Trust | 3,052,983 | -863,137 | 117,265,077.03 | 0.1126 | 1.2033 | 12/31/2025 |
| 9 | BlackRock Asset Management Canada Ltd. | 321,551 | -643,403 | 12,350,773.91 | 0.0105 | 0.1267 | 12/31/2025 |
| 10 | National Bank Financial, Inc. | 14,651 | -383,482 | 562,744.91 | 0.0007 | 0.0058 | 12/31/2025 |
Data provided by FactSet Research Systems Inc.