| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | GQG Partners LLC | 144,189,496 | -111,909,386 | 1,708,645,527.6 | 1.3237 | 3.8749 | 11/30/2025 |
| 2 | Baillie Gifford & Co. | 32,087,693 | -19,661,054 | 380,239,162.05 | 0.2079 | 0.8623 | 09/30/2025 |
| 3 | Lazard Asset Management LLC | 21,569,843 | -307,009 | 255,602,639.55 | 0.199 | 0.5797 | 09/30/2025 |
| 4 | Capital Research & Management Co. (International Investors) | 20,211,745 | 20,211,745 | 239,509,178.25 | 0.0365 | 0.5432 | 09/30/2025 |
| 5 | Fidelity Management & Research Co. LLC | 19,589,728 | -1,175,190 | 232,138,276.8 | 0.0129 | 0.5264 | 09/30/2025 |
| 6 | ARGA Investment Management LP | 18,808,705 | 7,772,595 | 222,883,154.25 | 1.1827 | 0.5055 | 09/30/2025 |
| 7 | Schroder Investment Management Ltd. | 18,589,559 | -295,050 | 220,286,274.15 | 0.0892 | 0.4996 | 09/30/2025 |
| 8 | Invesco Asset Management Ltd. | 17,303,524 | 15,676,504 | 205,046,759.4 | 0.2103 | 0.465 | 09/30/2025 |
| 9 | Fisher Asset Management LLC | 14,295,108 | -674,247 | 169,397,029.8 | 0.0572 | 0.3842 | 09/30/2025 |
| 10 | Mondrian Investment Partners Ltd. | 11,092,621 | 1,837,230 | 131,447,558.85 | 0.7577 | 0.2981 | 09/30/2025 |
| 11 | FIAM LLC | 10,843,210 | -443,189 | 128,492,038.5 | 0.0658 | 0.2914 | 09/30/2025 |
| 12 | Renaissance Technologies LLC | 10,547,500 | 4,070,600 | 124,987,875 | 0.1665 | 0.2834 | 09/30/2025 |
| 13 | Massachusetts Financial Services Co. | 10,518,280 | 2,162,609 | 124,641,618 | 0.0378 | 0.2827 | 09/30/2025 |
| 14 | Schroder Investment Management North America, Inc. | 9,580,582 | -1,334,627 | 113,529,896.7 | 0.6737 | 0.2575 | 09/30/2025 |
| 15 | BlackRock Fund Advisors | 8,238,701 | 1,067,988 | 97,628,606.85 | 0.0021 | 0.2214 | 09/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Goldman Sachs GQG Partners International Opportunities Fund | 66,456,063 | -5,317,393 | 787,504,346.55 | 1.3996 | 1.7859 | 10/31/2025 |
| 2 | GQG Partners Emerging Markets Equity Fund | 54,489,152 | -3,609,898 | 645,696,451.2 | 2.7781 | 1.4643 | 09/30/2025 |
| 3 | Invesco Developing Markets Fund | 15,771,802 | 8,570,960 | 186,895,853.7 | 1.8105 | 0.4238 | 11/30/2025 |
| 4 | MFS Emerging Markets Equity Fund | 8,728,597 | 1,973,095 | 103,433,874.45 | 1.0741 | 0.2346 | 11/30/2025 |
| 5 | American Funds New World Fund | 8,159,933 | 8,159,933 | 96,695,206.05 | 0.1338 | 0.2193 | 09/30/2025 |
| 6 | iShares Tr. - Latin America 40 ETF | 7,852,435 | 725,081 | 93,051,354.75 | 4.0154 | 0.211 | 11/28/2025 |
| 7 | St. James's Place Unit Trust - Emerging Markets Equity | 7,384,226 | 1,262,546 | 87,503,078.1 | 0.7852 | 0.1984 | 09/30/2025 |
| 8 | American Funds EuroPacific Growth Fund | 7,233,217 | 7,233,217 | 85,713,621.45 | 0.0612 | 0.1944 | 09/30/2025 |
| 9 | Baillie Gifford Emerging Markets Equities Fund | 5,601,264 | -5,080,711 | 66,374,978.4 | 0.8992 | 0.1505 | 09/30/2025 |
| 10 | Lazard Emerging Markets Equity Portfolio | 5,180,676 | 1,438,228 | 61,391,010.6 | 0.9458 | 0.1392 | 11/30/2025 |
| 11 | GQG Global UCITS ICAV - Partners Emerging Markets Equity Fund | 4,518,933 | -323,444 | 53,549,356.05 | 2.1083 | 0.1214 | 06/30/2025 |
| 12 | Invesco Funds - Emerging Markets Equity Fund | 4,170,412 | 3,861,046 | 49,419,382.2 | 2.2645 | 0.1121 | 11/28/2025 |
| 13 | Hartford Schroders Emerging Markets Equity Fund | 3,824,195 | -286,714 | 45,316,710.75 | 0.6996 | 0.1028 | 11/30/2025 |
| 14 | Schroder ISF - Emerging Markets | 3,798,014 | -244,941 | 45,006,465.9 | 0.6901 | 0.1021 | 10/31/2025 |
| 15 | Redwheel Emerging Markets Equity Fund Ltd. | 3,117,409 | 0 | 36,941,296.65 | 1.0339 | 0.0838 | 06/28/2024 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Capital Research & Management Co. (International Investors) | 20,211,745 | 20,211,745 | 239,509,178.25 | 0.0365 | 0.5432 | 09/30/2025 |
| 2 | Invesco Asset Management Ltd. | 17,303,524 | 15,676,504 | 205,046,759.4 | 0.2103 | 0.465 | 09/30/2025 |
| 3 | ARGA Investment Management LP | 18,808,705 | 7,772,595 | 222,883,154.25 | 1.1827 | 0.5055 | 09/30/2025 |
| 4 | Marshall Wace LLP | 7,346,380 | 7,346,380 | 87,054,603 | 0.0936 | 0.1974 | 09/30/2025 |
| 5 | SPX Gestao de Recursos Ltda. | 7,916,982 | 6,396,594 | 93,816,236.7 | 2.8789 | 0.2128 | 09/30/2025 |
| 6 | T. Rowe Price Hong Kong Ltd. | 6,143,385 | 6,143,385 | 72,799,112.25 | 0.2705 | 0.1651 | 09/30/2025 |
| 7 | D. E. Shaw & Co. LP | 4,842,300 | 4,163,100 | 57,381,255 | 0.046 | 0.1301 | 09/30/2025 |
| 8 | Renaissance Technologies LLC | 10,547,500 | 4,070,600 | 124,987,875 | 0.1665 | 0.2834 | 09/30/2025 |
| 9 | ICICI Prudential Asset Management Co. Ltd. (Invt Mgmt) | 2,776,000 | 2,776,000 | 32,895,600 | 0.041 | 0.0746 | 09/30/2025 |
| 10 | Massachusetts Financial Services Co. | 10,518,280 | 2,162,609 | 124,641,618 | 0.0378 | 0.2827 | 09/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | GQG Partners LLC | 144,189,496 | -111,909,386 | 1,708,645,527.6 | 1.3237 | 3.8749 | 11/30/2025 |
| 2 | Arrowstreet Capital LP | 0 | -21,203,283 | 0 | 0 | 0 | |
| 3 | Baillie Gifford & Co. | 32,087,693 | -19,661,054 | 380,239,162.05 | 0.2079 | 0.8623 | 09/30/2025 |
| 4 | Thornburg Investment Management, Inc. | 346,334 | -7,404,504 | 4,104,057.9 | 0.016 | 0.0093 | 09/30/2025 |
| 5 | T. Rowe Price Singapore Pte Ltd. | 0 | -7,361,580 | 0 | 0 | 0 | |
| 6 | Fidelity Management & Research (Hong Kong) Ltd. | 0 | -5,466,822 | 0 | 0 | 0 | |
| 7 | Millennium Management LLC | 379,332 | -4,603,523 | 4,495,084.2 | 0.0035 | 0.0102 | 09/30/2025 |
| 8 | Carrhae Capital LLP | 0 | -4,516,382 | 0 | 0 | 0 | |
| 9 | Contrarian Capital Management LLC | 0 | -3,906,345 | 0 | 0 | 0 | |
| 10 | Driehaus Capital Management LLC | 0 | -3,648,756 | 0 | 0 | 0 |
Data provided by FactSet Research Systems Inc.