| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Fidelity Management & Research Co. LLC | 54,769,863 | -13,684,933 | 194,980,712.28 | 0.0109 | 4.2686 | 12/31/2025 |
| 2 | FIAM LLC | 43,880,952 | 3,244,926 | 156,216,189.12 | 0.0767 | 3.4199 | 12/31/2025 |
| 3 | Capital Research & Management Co. (International Investors) | 27,415,434 | -3,048,851 | 97,598,945.04 | 0.0141 | 2.1367 | 12/31/2025 |
| 4 | Donald Smith & Co., Inc. | 24,211,588 | 18,239,128 | 86,193,253.28 | 1.5956 | 1.887 | 12/31/2025 |
| 5 | Aquamarine Financial (Cayman) Ltd. | 19,526,171 | 19,526,171 | 69,513,168.76 | 5.6889 | 1.5218 | 12/31/2025 |
| 6 | Contrarian Capital Management LLC | 19,069,112 | 0 | 67,886,038.72 | 17.5899 | 1.4862 | 12/31/2025 |
| 7 | Dimensional Fund Advisors LP | 10,204,405 | -434,454 | 36,327,681.8 | 0.0052 | 0.7953 | 12/31/2025 |
| 8 | Itau USA Asset Management, Inc. | 8,744,732 | 4,708,132 | 31,131,245.92 | 0.4974 | 0.6815 | 12/31/2025 |
| 9 | Causeway Capital Management LLC | 7,259,433 | 4,589,255 | 25,843,581.48 | 0.0554 | 0.5658 | 12/31/2025 |
| 10 | Renaissance Technologies LLC | 6,211,324 | -4,032,277 | 22,112,313.44 | 0.034 | 0.4841 | 12/31/2025 |
| 11 | Citadel Securities LLC | 5,847,791 | -7,293,815 | 20,818,135.96 | 0.0446 | 0.4558 | 12/31/2025 |
| 12 | BlackRock Fund Advisors | 5,705,543 | -116,091 | 20,311,733.08 | 0.0004 | 0.4447 | 12/31/2025 |
| 13 | American Century Investment Management, Inc. | 5,424,093 | 1,407,344 | 19,309,771.08 | 0.0072 | 0.4227 | 12/31/2025 |
| 14 | SPX Gestao de Recursos Ltda. | 4,894,496 | 2,025,392 | 17,424,405.76 | 0.6165 | 0.3815 | 12/31/2025 |
| 15 | Morgan Stanley & Co. LLC | 4,776,267 | 1,584,824 | 17,003,510.52 | 0.0061 | 0.3722 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Fidelity Advisor Focused Emerging Markets Fund | 24,181,759 | -3,272,914 | 86,087,062.04 | 0.8082 | 1.8846 | 01/31/2026 |
| 2 | Strategic Advisers Fidelity Emerging Markets Fund | 21,799,653 | 4,304,711 | 77,606,764.68 | 0.2286 | 1.699 | 01/31/2026 |
| 3 | American Funds New Perspective Fund | 20,168,239 | -2,098,611 | 71,798,930.84 | 0.0461 | 1.5718 | 12/31/2025 |
| 4 | Vanguard Selected Value Fund | 9,025,500 | 4,875,600 | 32,130,780 | 0.4857 | 0.7034 | 10/31/2025 |
| 5 | Fidelity Strategic Advisers Emerging Markets Fund | 8,505,525 | 1,841,911 | 30,279,669 | 0.1889 | 0.6629 | 12/31/2025 |
| 6 | iShares Tr. - Latin America 40 ETF | 8,376,080 | 3,613,197 | 29,818,844.8 | 0.7346 | 0.6528 | 02/27/2026 |
| 7 | Fidelity Series Emerging Markets Fund | 8,062,026 | 3,182,920 | 28,700,812.56 | 0.4149 | 0.6283 | 01/31/2026 |
| 8 | PERSI - PSI Donald Smith Dom | 7,176,990 | 7,176,990 | 25,550,084.4 | 2.0835 | 0.5593 | 12/31/2025 |
| 9 | Avantis Emerging Markets Equity ETF | 5,830,838 | 1,871,149 | 20,757,783.28 | 0.1013 | 0.4544 | 02/27/2026 |
| 10 | DWS Invest - Latin American Equities | 5,009,775 | 50,305 | 17,834,799 | 0.7121 | 0.3904 | 01/30/2026 |
| 11 | CIF - Capital Group New Perspective Fund (Lux) | 4,642,049 | -250,648 | 16,525,694.44 | 0.0839 | 0.3618 | 12/31/2025 |
| 12 | FIAM Select Emerging Markets Equity | 4,378,756 | 2,017,455 | 15,588,371.36 | 0.43 | 0.3413 | 01/31/2026 |
| 13 | Fidelity VIP II - Emerging Markets Portfolio | 3,791,560 | -138,300 | 13,497,953.6 | 0.8935 | 0.2955 | 12/31/2025 |
| 14 | MFS International New Discovery Fund | 3,383,774 | 3,383,774 | 12,046,235.44 | 0.1512 | 0.2637 | 01/31/2026 |
| 15 | DFA Dimensional Emerging Markets Value Fund | 3,232,746 | -108,462 | 11,508,575.76 | 0.0806 | 0.2519 | 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 | 69,513,168.76 | 5.6889 | 1.5218 | 12/31/2025 |
| 2 | Donald Smith & Co., Inc. | 24,211,588 | 18,239,128 | 86,193,253.28 | 1.5956 | 1.887 | 12/31/2025 |
| 3 | Itau USA Asset Management, Inc. | 8,744,732 | 4,708,132 | 31,131,245.92 | 0.4974 | 0.6815 | 12/31/2025 |
| 4 | Causeway Capital Management LLC | 7,259,433 | 4,589,255 | 25,843,581.48 | 0.0554 | 0.5658 | 12/31/2025 |
| 5 | FIAM LLC | 43,880,952 | 3,244,926 | 156,216,189.12 | 0.0767 | 3.4199 | 12/31/2025 |
| 6 | Mackenzie Financial Corp. | 4,117,253 | 2,572,881 | 14,657,420.68 | 0.013 | 0.3209 | 12/31/2025 |
| 7 | SPX Gestao de Recursos Ltda. | 4,894,496 | 2,025,392 | 17,424,405.76 | 0.6165 | 0.3815 | 12/31/2025 |
| 8 | Leap Investments LP | 1,986,943 | 1,986,943 | 7,073,517.08 | 0.1336 | 0.1549 | 12/31/2025 |
| 9 | Point72 Asset Management LP | 2,072,395 | 1,823,795 | 7,377,726.2 | 0.0115 | 0.1615 | 12/31/2025 |
| 10 | Goldman Sachs & Co. LLC (Private Banking) | 2,091,664 | 1,697,388 | 7,446,323.84 | 0.0034 | 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 | 194,980,712.28 | 0.0109 | 4.2686 | 12/31/2025 |
| 2 | Merrill Lynch International (Investment Management) | 1 | -12,882,910 | 3.56 | 0 | 0 | 12/31/2025 |
| 3 | Citadel Securities LLC | 5,847,791 | -7,293,815 | 20,818,135.96 | 0.0446 | 0.4558 | 12/31/2025 |
| 4 | Two Sigma Advisers LP | 525,580 | -5,141,480 | 1,871,064.8 | 0.0036 | 0.041 | 12/31/2025 |
| 5 | Two Sigma Investments LP | 3,751,067 | -4,039,961 | 13,353,798.52 | 0.02 | 0.2923 | 12/31/2025 |
| 6 | Renaissance Technologies LLC | 6,211,324 | -4,032,277 | 22,112,313.44 | 0.034 | 0.4841 | 12/31/2025 |
| 7 | Capital Research & Management Co. (International Investors) | 27,415,434 | -3,048,851 | 97,598,945.04 | 0.0141 | 2.1367 | 12/31/2025 |
| 8 | Goldman Sachs International | 226,667 | -2,517,751 | 806,934.52 | 0.0077 | 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.