| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Fidelity Management & Research Co. LLC | 54,769,863 | -13,684,933 | 228,390,328.71 | 0.0123 | 4.2686 | 12/31/2025 |
| 2 | FIAM LLC | 43,880,952 | 3,244,926 | 182,983,569.84 | 0.0865 | 3.4199 | 12/31/2025 |
| 3 | Capital Research & Management Co. (International Investors) | 27,415,434 | -3,048,851 | 114,322,359.78 | 0.0159 | 2.1367 | 12/31/2025 |
| 4 | Donald Smith & Co., Inc. | 24,211,588 | 18,239,128 | 100,962,321.96 | 1.7409 | 1.887 | 12/31/2025 |
| 5 | Aquamarine Financial (Cayman) Ltd. | 19,526,171 | 19,526,171 | 81,424,133.07 | 5.9382 | 1.5218 | 12/31/2025 |
| 6 | Contrarian Capital Management LLC | 19,069,112 | 0 | 79,518,197.04 | 18.8089 | 1.4862 | 12/31/2025 |
| 7 | Dimensional Fund Advisors LP | 10,204,405 | -434,454 | 42,552,368.85 | 0.0058 | 0.7953 | 12/31/2025 |
| 8 | Itau USA Asset Management, Inc. | 8,744,732 | 4,708,132 | 36,465,532.44 | 0.5524 | 0.6815 | 12/31/2025 |
| 9 | Causeway Capital Management LLC | 7,259,433 | 4,589,255 | 30,271,835.61 | 0.056 | 0.5658 | 12/31/2025 |
| 10 | Renaissance Technologies LLC | 6,211,324 | -4,032,277 | 25,901,221.08 | 0.039 | 0.4841 | 12/31/2025 |
| 11 | Citadel Securities LLC | 5,847,791 | -7,293,815 | 24,385,288.47 | 0.0504 | 0.4558 | 12/31/2025 |
| 12 | BlackRock Fund Advisors | 5,705,543 | -116,091 | 23,792,114.31 | 0.0005 | 0.4447 | 12/31/2025 |
| 13 | American Century Investment Management, Inc. | 5,424,093 | 1,407,344 | 22,618,467.81 | 0.0082 | 0.4227 | 12/31/2025 |
| 14 | SPX Gestao de Recursos Ltda. | 4,894,496 | 2,025,392 | 20,410,048.32 | 0.6707 | 0.3815 | 12/31/2025 |
| 15 | Morgan Stanley & Co. LLC | 4,776,267 | 1,584,824 | 19,917,033.39 | 0.0069 | 0.3722 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Fidelity Advisor Focused Emerging Markets Fund | 25,848,773 | -413,400 | 107,789,383.41 | 0.9834 | 2.0146 | 12/31/2025 |
| 2 | Strategic Advisers Fidelity Emerging Markets Fund | 23,740,753 | 6,245,811 | 98,998,940.01 | 0.2633 | 1.8503 | 12/31/2025 |
| 3 | American Funds New Perspective Fund | 20,168,239 | -2,098,611 | 84,101,556.63 | 0.0521 | 1.5718 | 12/31/2025 |
| 4 | Vanguard Selected Value Fund | 9,025,500 | 4,875,600 | 37,636,335 | 0.5327 | 0.7034 | 10/31/2025 |
| 5 | Fidelity Series Emerging Markets Fund | 8,984,427 | 4,105,321 | 37,465,060.59 | 0.5118 | 0.7002 | 12/31/2025 |
| 6 | Fidelity Strategic Advisers Emerging Markets Fund | 8,505,525 | 2,461,854 | 35,468,039.25 | 0.2097 | 0.6629 | 12/31/2025 |
| 7 | iShares Tr. - Latin America 40 ETF | 7,906,901 | 3,148,516 | 32,971,777.17 | 0.7877 | 0.6162 | 01/30/2026 |
| 8 | PERSI - PSI Donald Smith Dom | 7,176,990 | 7,176,990 | 29,928,048.3 | 2.2606 | 0.5593 | 12/31/2025 |
| 9 | Avantis Emerging Markets Equity ETF | 5,158,642 | 1,326,534 | 21,511,537.14 | 0.1113 | 0.402 | 01/30/2026 |
| 10 | DWS Invest - Latin American Equities | 5,009,775 | 1,240,053 | 20,890,761.75 | 0.7813 | 0.3904 | 12/30/2025 |
| 11 | FIAM Select Emerging Markets Equity | 4,796,456 | 2,435,155 | 20,001,221.52 | 0.5217 | 0.3738 | 12/31/2025 |
| 12 | CIF - Capital Group New Perspective Fund (Lux) | 4,642,049 | -250,648 | 19,357,344.33 | 0.0948 | 0.3618 | 12/31/2025 |
| 13 | Fidelity VIP II - Emerging Markets Portfolio | 3,791,560 | -222,500 | 15,810,805.2 | 0.9886 | 0.2955 | 12/31/2025 |
| 14 | DFA Dimensional Emerging Markets Value Fund | 3,232,746 | -321,820 | 13,480,550.82 | 0.0903 | 0.2519 | 11/30/2025 |
| 15 | Inbuinter, SA De CV Fondo de Inversion de Renta Variable | 3,052,500 | -45,841 | 12,728,925 | 1.3176 | 0.2379 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Aquamarine Financial (Cayman) Ltd. | 19,526,171 | 19,526,171 | 81,424,133.07 | 5.9382 | 1.5218 | 12/31/2025 |
| 2 | Donald Smith & Co., Inc. | 24,211,588 | 18,239,128 | 100,962,321.96 | 1.7409 | 1.887 | 12/31/2025 |
| 3 | Itau USA Asset Management, Inc. | 8,744,732 | 4,708,132 | 36,465,532.44 | 0.5524 | 0.6815 | 12/31/2025 |
| 4 | Causeway Capital Management LLC | 7,259,433 | 4,589,255 | 30,271,835.61 | 0.056 | 0.5658 | 12/31/2025 |
| 5 | FIAM LLC | 43,880,952 | 3,244,926 | 182,983,569.84 | 0.0865 | 3.4199 | 12/31/2025 |
| 6 | Mackenzie Financial Corp. | 4,117,253 | 2,572,881 | 17,168,945.01 | 0.0149 | 0.3209 | 12/31/2025 |
| 7 | SPX Gestao de Recursos Ltda. | 4,894,496 | 2,025,392 | 20,410,048.32 | 0.6707 | 0.3815 | 12/31/2025 |
| 8 | Leap Investments LP | 1,986,943 | 1,986,943 | 8,285,552.31 | 0.1518 | 0.1549 | 12/31/2025 |
| 9 | Point72 Asset Management LP | 2,072,395 | 1,823,795 | 8,641,887.15 | 0.0129 | 0.1615 | 12/31/2025 |
| 10 | Goldman Sachs & Co. LLC (Private Banking) | 2,091,664 | 1,697,388 | 8,722,238.88 | 0.0038 | 0.163 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Fidelity Management & Research Co. LLC | 54,769,863 | -13,684,933 | 228,390,328.71 | 0.0123 | 4.2686 | 12/31/2025 |
| 2 | Merrill Lynch International (Investment Management) | 1 | -12,882,910 | 4.17 | 0 | 0 | 12/31/2025 |
| 3 | Citadel Securities LLC | 5,847,791 | -7,293,815 | 24,385,288.47 | 0.0504 | 0.4558 | 12/31/2025 |
| 4 | Two Sigma Advisers LP | 525,580 | -5,141,480 | 2,191,668.6 | 0.0042 | 0.041 | 12/31/2025 |
| 5 | Two Sigma Investments LP | 3,751,067 | -4,039,961 | 15,641,949.39 | 0.0227 | 0.2923 | 12/31/2025 |
| 6 | Renaissance Technologies LLC | 6,211,324 | -4,032,277 | 25,901,221.08 | 0.039 | 0.4841 | 12/31/2025 |
| 7 | Capital Research & Management Co. (International Investors) | 27,415,434 | -3,048,851 | 114,322,359.78 | 0.0159 | 2.1367 | 12/31/2025 |
| 8 | Goldman Sachs International | 226,667 | -2,517,751 | 945,201.39 | 0.0087 | 0.0177 | 12/31/2025 |
| 9 | Kawa Capital Management, Inc. | 0 | -2,094,404 | 0 | 0 | 0 | |
| 10 | Cubist Systematic Strategies LLC | 0 | -1,948,705 | 0 | 0 | 0 |
Data provided by FactSet Research Systems Inc.