| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Schroder Investment Management Ltd. | 4,499,424 | 172,340 | 132,222,318.88 | 0.0507 | 1.6499 | 11/30/2025 |
| 2 | Pictet Asset Management Ltd. | 1,925,834 | 0 | 56,593,518.92 | 0.6592 | 0.7062 | 03/31/2025 |
| 3 | RWC Asset Advisors (US) LLC | 1,620,779 | 898,245 | 47,629,020.46 | 0.6881 | 0.5943 | 12/31/2025 |
| 4 | HSBC Global Asset Management (UK) Ltd. | 1,325,172 | 441,756 | 38,942,165.65 | 0.0218 | 0.4859 | 11/30/2025 |
| 5 | Capital Research & Management Co. (World Investors) | 1,293,921 | -7,071 | 38,023,808.17 | 0.0035 | 0.4745 | 12/31/2025 |
| 6 | Trigon Asset Management AS | 1,177,764 | 0 | 34,610,360.61 | 3.144 | 0.4319 | 06/30/2025 |
| 7 | East Capital Asia Ltd. | 913,656 | 288,418 | 26,849,151.13 | 2.4567 | 0.335 | 11/28/2025 |
| 8 | Santa Lucia Asset Management Pte. Ltd. | 844,257 | 149,257 | 24,809,757.49 | 2.478 | 0.3096 | 09/30/2025 |
| 9 | Kopernik Global Investors LLC | 785,325 | -183,356 | 23,077,952.33 | 0.3226 | 0.288 | 11/30/2025 |
| 10 | Franklin Templeton Investments (ME) Ltd. | 571,483 | 49,945 | 16,793,884.61 | 3.4034 | 0.2096 | 12/31/2025 |
| 11 | Generali Investments CEE Investicni Spolecnost AS | 558,696 | 253,857 | 16,418,119.45 | 1.1577 | 0.2049 | 12/31/2025 |
| 12 | Ranmore Fund Management Ltd. | 549,998 | 0 | 16,162,515.68 | 1.1181 | 0.2017 | 09/30/2025 |
| 13 | Coeli Asset Management AB | 545,719 | 0 | 16,036,770.85 | 2.396 | 0.2001 | 06/30/2025 |
| 14 | BlackRock Investment Management (UK) Ltd. | 535,052 | 263,503 | 15,723,305.06 | 0.0019 | 0.1962 | 12/31/2025 |
| 15 | Legal & General Investment Management Ltd. | 525,064 | 47,520 | 15,429,792.71 | 0.0048 | 0.1925 | 11/28/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Pictet - Russian Equities | 1,925,834 | 0 | 56,593,518.92 | 58.0062 | 0.7062 | 03/31/2025 |
| 2 | Schroder ISF - Frontier Markets Equity | 1,588,901 | 29,340 | 46,692,237.65 | 5.4405 | 0.5826 | 11/30/2025 |
| 3 | Redwheel Next Generation Emerging Markets Equity Fund | 1,451,033 | 728,499 | 42,640,779.8 | 1.7854 | 0.5321 | 12/31/2025 |
| 4 | HSBC Global Investment Funds - Frontier Markets | 1,325,172 | 441,756 | 38,942,165.65 | 4.0635 | 0.4859 | 11/30/2025 |
| 5 | American Funds Insurance Series - Global Growth Fund | 1,293,921 | -7,071 | 38,023,808.17 | 0.4031 | 0.4745 | 12/31/2025 |
| 6 | Schroder ISF - Global Emerging Market Opportunities | 1,186,514 | 81,180 | 34,867,492.47 | 1.2372 | 0.4351 | 11/30/2025 |
| 7 | Schroder ISF - Emerging Europe | 1,155,535 | 61,820 | 33,957,128.12 | 2.2068 | 0.4237 | 11/30/2025 |
| 8 | CIM Investment Fund ICAV - Dividend Income Fund | 844,257 | 149,257 | 24,809,757.49 | 2.7042 | 0.3096 | 09/30/2025 |
| 9 | East Capital - Global Frontier Markets Fund | 690,356 | 189,318 | 20,287,145.9 | 6.0573 | 0.2531 | 11/28/2025 |
| 10 | TRIGON - New Europe Fund | 584,382 | 0 | 17,172,941.06 | 3.0493 | 0.2143 | 06/30/2025 |
| 11 | Trigon New Europe Fund | 584,382 | 0 | 17,172,941.06 | 3.0493 | 0.2143 | 06/30/2025 |
| 12 | FTIF SICAV - Templeton Frontier Markets Fund | 571,483 | 49,945 | 16,793,884.61 | 4.8448 | 0.2096 | 12/31/2025 |
| 13 | Ranmore Global Equity Fund Plc | 549,998 | 0 | 16,162,515.68 | 1.0067 | 0.2017 | 09/30/2025 |
| 14 | Coeli SICAV I - Frontier Markets | 545,719 | 0 | 16,036,770.85 | 6.395 | 0.2001 | 06/30/2025 |
| 15 | BlackRock Frontiers Investment Trust Plc | 535,052 | 263,503 | 15,723,305.06 | 3.0855 | 0.1962 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | RWC Asset Advisors (US) LLC | 1,620,779 | 898,245 | 47,629,020.46 | 0.6881 | 0.5943 | 12/31/2025 |
| 2 | HSBC Global Asset Management (UK) Ltd. | 1,325,172 | 441,756 | 38,942,165.65 | 0.0218 | 0.4859 | 11/30/2025 |
| 3 | East Capital Asia Ltd. | 913,656 | 288,418 | 26,849,151.13 | 2.4567 | 0.335 | 11/28/2025 |
| 4 | BlackRock Investment Management (UK) Ltd. | 535,052 | 263,503 | 15,723,305.06 | 0.0019 | 0.1962 | 12/31/2025 |
| 5 | Generali Investments CEE Investicni Spolecnost AS | 558,696 | 253,857 | 16,418,119.45 | 1.1577 | 0.2049 | 12/31/2025 |
| 6 | Goldman Sachs Asset Management LP | 181,476 | 181,476 | 5,332,944.29 | 0.001 | 0.0665 | 12/31/2025 |
| 7 | Schroder Investment Management Ltd. | 4,499,424 | 172,340 | 132,222,318.88 | 0.0507 | 1.6499 | 11/30/2025 |
| 8 | Santa Lucia Asset Management Pte. Ltd. | 844,257 | 149,257 | 24,809,757.49 | 2.478 | 0.3096 | 09/30/2025 |
| 9 | Fiera Capital (UK) Ltd. | 145,396 | 145,396 | 4,272,679.41 | 0.0961 | 0.0533 | 09/30/2025 |
| 10 | Thompson, Siegel & Walmsley LLC | 183,800 | 117,300 | 5,401,238.52 | 0.039 | 0.0674 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Capital Research & Management Co. (International Investors) | 186,396 | -225,735 | 5,477,525.87 | 0.0008 | 0.0684 | 12/31/2025 |
| 2 | JPMorgan Asset Management (UK) Ltd. | 307,631 | -214,224 | 9,040,198.07 | 0.0053 | 0.1128 | 12/31/2025 |
| 3 | Kopernik Global Investors LLC | 785,325 | -183,356 | 23,077,952.33 | 0.3226 | 0.288 | 11/30/2025 |
| 4 | Harding Loevner LP | 92,990 | -129,862 | 2,732,650.54 | 0.0094 | 0.0341 | 10/31/2025 |
| 5 | SEI Investments Management Corp. | 183,150 | -91,786 | 5,382,137.29 | 0.0051 | 0.0672 | 12/31/2025 |
| 6 | Capital International Ltd. | 238,101 | -72,480 | 6,996,954.8 | 0.0034 | 0.0873 | 12/31/2025 |
| 7 | Templeton Asset Management Ltd. | 378,234 | -40,050 | 11,114,973.06 | 0.0612 | 0.1387 | 12/31/2025 |
| 8 | Axxion SA (Luxembourg) | 12,500 | -21,500 | 367,331.24 | 0.0288 | 0.0046 | 12/30/2025 |
| 9 | North of South Capital LLP | 40,974 | -11,617 | 1,204,082.41 | 0.0249 | 0.015 | 12/31/2025 |
| 10 | Tiff Advisory Services LLC | 18,848 | -8,639 | 553,876.73 | 0.0745 | 0.0069 | 09/30/2025 |
Data provided by FactSet Research Systems Inc.