| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Robeco Institutional Asset Management BV | 27,254,874 | 4,890,945 | 400,374,099.06 | 0.345 | 1.0008 | 12/31/2025 |
| 2 | JPMorgan Investment Management, Inc. | 18,007,116 | 2,915,958 | 264,524,534.04 | 0.0264 | 0.6612 | 12/31/2025 |
| 3 | Massachusetts Financial Services Co. | 13,411,339 | -176,947 | 197,012,569.91 | 0.0597 | 0.4925 | 12/31/2025 |
| 4 | BlackRock Fund Advisors | 12,176,857 | 3,105,462 | 178,878,029.33 | 0.0037 | 0.4471 | 12/31/2025 |
| 5 | Itau USA Asset Management, Inc. | 9,218,618 | 3,134,474 | 135,421,498.42 | 2.0513 | 0.3385 | 12/31/2025 |
| 6 | JPMorgan Asset Management (UK) Ltd. | 8,904,788 | 2,563,145 | 130,811,335.72 | 0.0756 | 0.327 | 12/31/2025 |
| 7 | Dimensional Fund Advisors LP | 6,576,824 | 1,194,152 | 96,613,544.56 | 0.0132 | 0.2415 | 12/31/2025 |
| 8 | Nomura Investment Management Business Trust | 6,185,509 | 0 | 90,865,127.21 | 0.0872 | 0.2271 | 12/31/2025 |
| 9 | Amundi SGR SpA | 5,946,064 | 0 | 87,347,680.16 | 0.6496 | 0.2183 | 12/31/2025 |
| 10 | Brandes Investment Partners LP | 5,492,474 | 981,955 | 80,684,443.06 | 0.3046 | 0.2017 | 12/31/2025 |
| 11 | SSgA Funds Management, Inc. | 5,003,803 | -328,361 | 73,505,866.07 | 0.0023 | 0.1837 | 12/31/2025 |
| 12 | Renaissance Technologies LLC | 4,485,600 | -2,400 | 65,893,464 | 0.0993 | 0.1647 | 12/31/2025 |
| 13 | American Century Investment Management, Inc. | 4,301,442 | 953,958 | 63,188,182.98 | 0.0228 | 0.158 | 12/31/2025 |
| 14 | Ranmore Fund Management Ltd. | 3,980,000 | 1,956,000 | 58,466,200 | 3.1184 | 0.1461 | 12/31/2025 |
| 15 | Packer & Co. Ltd. | 3,948,602 | 1,285,502 | 58,004,963.38 | 12.7183 | 0.145 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | iShares Tr. - Latin America 40 ETF | 13,568,706 | 5,751,400 | 199,324,291.14 | 4.762 | 0.4983 | 01/30/2026 |
| 2 | MFS International Intrinsic Value Fund | 7,821,289 | -129,009 | 114,894,735.41 | 0.4403 | 0.2872 | 01/31/2026 |
| 3 | JPMorgan Emerging Markets Equity Fund | 7,795,175 | 67,020 | 114,511,120.75 | 1.0587 | 0.2862 | 12/31/2025 |
| 4 | Robeco Capital Gr. Fds. - Emerging Stars Equities | 6,198,978 | 1,264,346 | 91,062,986.82 | 2.1648 | 0.2276 | 12/31/2025 |
| 5 | Macquarie Emerging Markets Fund | 5,900,000 | 0 | 86,671,000 | 0.7967 | 0.2167 | 12/31/2025 |
| 6 | Avantis Emerging Markets Equity ETF | 4,335,926 | 1,114,717 | 63,694,752.94 | 0.3297 | 0.1592 | 01/30/2026 |
| 7 | JPMorgan Funds - Emerging Markets Equity Fund | 3,965,529 | -129,136 | 58,253,621.01 | 1.1938 | 0.1456 | 01/31/2026 |
| 8 | Ranmore Global Equity Fund Plc | 3,380,000 | 1,180,000 | 49,652,200 | 2.5413 | 0.1241 | 10/31/2025 |
| 9 | Fidelity Inv. Trust - Emerging Markets Opportunities Fund | 3,312,400 | -1,014,000 | 48,659,156 | 0.1652 | 0.1216 | 12/31/2025 |
| 10 | MFS Emerging Markets Equity Fund | 3,057,524 | -167,144 | 44,915,027.56 | 0.4214 | 0.1123 | 12/31/2025 |
| 11 | JPMorgan Fund ICVC - Emerging Markets Fund | 3,018,825 | -208,660 | 44,346,539.25 | 1.1851 | 0.1109 | 01/31/2026 |
| 12 | DFA Dimensional Emerging Markets Value Fund | 2,874,100 | 20,604 | 42,220,529 | 0.2828 | 0.1055 | 11/30/2025 |
| 13 | State Street SPDR Portfolio Emerging Markets ETF | 2,843,264 | -321,700 | 41,767,548.16 | 0.2482 | 0.1044 | 01/30/2026 |
| 14 | JPMorgan Funds - Latin America Equity Fund | 2,711,972 | 41,909 | 39,838,868.68 | 7.1336 | 0.0996 | 01/31/2026 |
| 15 | Robeco Capital Gr. Fds. - QI Emerging Markets Active Equities | 2,567,228 | 902,005 | 37,712,579.32 | 0.5834 | 0.0943 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Robeco Institutional Asset Management BV | 27,254,874 | 4,890,945 | 400,374,099.06 | 0.345 | 1.0008 | 12/31/2025 |
| 2 | Itau USA Asset Management, Inc. | 9,218,618 | 3,134,474 | 135,421,498.42 | 2.0513 | 0.3385 | 12/31/2025 |
| 3 | BlackRock Fund Advisors | 12,176,857 | 3,105,462 | 178,878,029.33 | 0.0037 | 0.4471 | 12/31/2025 |
| 4 | JPMorgan Investment Management, Inc. | 18,007,116 | 2,915,958 | 264,524,534.04 | 0.0264 | 0.6612 | 12/31/2025 |
| 5 | JPMorgan Asset Management (UK) Ltd. | 8,904,788 | 2,563,145 | 130,811,335.72 | 0.0756 | 0.327 | 12/31/2025 |
| 6 | Invesco Asset Management Ltd. | 3,559,911 | 2,406,311 | 52,295,092.59 | 0.0496 | 0.1307 | 12/31/2025 |
| 7 | Ranmore Fund Management Ltd. | 3,980,000 | 1,956,000 | 58,466,200 | 3.1184 | 0.1461 | 12/31/2025 |
| 8 | JPMorgan Asset Management (Canada) Inc. | 2,777,410 | 1,520,683 | 40,800,152.9 | 0.4448 | 0.102 | 12/31/2025 |
| 9 | Packer & Co. Ltd. | 3,948,602 | 1,285,502 | 58,004,963.38 | 12.7183 | 0.145 | 12/31/2025 |
| 10 | Dimensional Fund Advisors LP | 6,576,824 | 1,194,152 | 96,613,544.56 | 0.0132 | 0.2415 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Goldman Sachs International | 64,237 | -5,637,655 | 943,641.53 | 0.0087 | 0.0024 | 12/31/2025 |
| 2 | Baillie Gifford & Co. | 3,768,768 | -2,762,173 | 55,363,201.92 | 0.0323 | 0.1384 | 12/31/2025 |
| 3 | Optiver US LLC | 0 | -1,759,374 | 0 | 0 | 0 | |
| 4 | State of Wisconsin Investment Board | 0 | -1,586,463 | 0 | 0 | 0 | |
| 5 | Fidelity Management & Research Co. LLC | 3,939,321 | -1,129,404 | 57,868,625.49 | 0.0031 | 0.1447 | 12/31/2025 |
| 6 | Millennium Management LLC | 420,984 | -1,021,916 | 6,184,254.96 | 0.0043 | 0.0155 | 12/31/2025 |
| 7 | Marshall Wace LLP | 70,490 | -819,876 | 1,035,498.1 | 0.001 | 0.0026 | 12/31/2025 |
| 8 | Qube Research & Technologies Ltd. | 94,079 | -798,439 | 1,382,020.51 | 0.0019 | 0.0035 | 12/31/2025 |
| 9 | Schroder & Co. Ltd. | 0 | -680,765 | 0 | 0 | 0 | |
| 10 | SPX Gestao de Recursos Ltda. | 1,173,051 | -551,324 | 17,232,119.19 | 0.5663 | 0.0431 | 12/31/2025 |
Data provided by FactSet Research Systems Inc.