| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | GQG Partners LLC | 221,361,832 | -34,737,050 | 2,753,741,190.08 | 2.1066 | 5.9488 | 06/30/2025 |
| 2 | Baillie Gifford & Co. | 40,397,064 | -11,351,683 | 502,539,476.16 | 0.2453 | 1.0856 | 06/30/2025 |
| 3 | Fidelity Management & Research Co. LLC | 22,054,557 | 1,289,639 | 274,358,689.08 | 0.0152 | 0.5927 | 06/30/2025 |
| 4 | Schroder Investment Management North America, Inc. | 19,738,131 | 8,822,922 | 245,542,349.64 | 0.2537 | 0.5304 | 06/30/2025 |
| 5 | Lazard Asset Management LLC | 19,139,752 | -2,737,100 | 238,098,514.88 | 0.1933 | 0.5144 | 06/30/2025 |
| 6 | Capital Research & Management Co. (International Investors) | 17,619,209 | 17,619,209 | 219,182,959.96 | 0.0341 | 0.4735 | 06/30/2025 |
| 7 | Fisher Asset Management LLC | 14,587,174 | -382,181 | 181,464,444.56 | 0.065 | 0.392 | 06/30/2025 |
| 8 | Schroder & Co. Ltd. | 11,523,112 | 11,523,112 | 143,347,513.28 | 1.1313 | 0.3097 | 06/30/2025 |
| 9 | Massachusetts Financial Services Co. | 11,214,925 | 2,859,254 | 139,513,667 | 0.0423 | 0.3014 | 06/30/2025 |
| 10 | ARGA Investment Management LP | 11,036,110 | 0 | 137,289,208.4 | 0.7415 | 0.2966 | 06/30/2025 |
| 11 | FIAM LLC | 10,354,000 | -932,399 | 128,803,760 | 0.0703 | 0.2782 | 06/30/2025 |
| 12 | Invesco Asset Management Ltd. | 10,203,104 | 8,576,084 | 126,926,613.76 | 0.1444 | 0.2742 | 06/30/2025 |
| 13 | Renaissance Technologies LLC | 10,002,800 | 3,525,900 | 124,434,832 | 0.1513 | 0.2688 | 06/30/2025 |
| 14 | Mondrian Investment Partners Ltd. | 9,255,391 | 0 | 115,137,064.04 | 0.6587 | 0.2487 | 03/31/2025 |
| 15 | BlackRock Fund Advisors | 7,756,279 | 585,566 | 96,488,110.76 | 0.0022 | 0.2084 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Goldman Sachs GQG Partners International Opportunities Fund | 71,574,470 | 3,334,935 | 890,386,406.8 | 1.6327 | 1.9235 | 07/31/2025 |
| 2 | GQG Partners Emerging Markets Equity Fund | 61,035,997 | 2,936,947 | 759,287,802.68 | 3.272 | 1.6403 | 06/30/2025 |
| 3 | Invesco Developing Markets Fund | 12,125,923 | 12,125,923 | 150,846,482.12 | 1.3215 | 0.3259 | 08/31/2025 |
| 4 | MFS Emerging Markets Equity Fund | 9,174,284 | 2,457,393 | 114,128,092.96 | 1.1727 | 0.2465 | 08/31/2025 |
| 5 | Baillie Gifford Emerging Markets Equities Fund | 9,158,144 | -1,523,831 | 113,927,311.36 | 1.6689 | 0.2461 | 06/30/2025 |
| 6 | Fidelity Advisor Focused Emerging Markets Fund | 8,006,947 | -795,800 | 99,606,420.68 | 1.0337 | 0.2152 | 08/31/2025 |
| 7 | American Funds EuroPacific Growth Fund | 7,277,197 | 7,277,197 | 90,528,330.68 | 0.0664 | 0.1956 | 06/30/2025 |
| 8 | iShares Tr. - Latin America 40 ETF | 6,896,725 | 932,344 | 85,795,259 | 4.5506 | 0.1853 | 09/30/2025 |
| 9 | American Funds New World Fund | 6,518,409 | 6,518,409 | 81,089,007.96 | 0.1154 | 0.1752 | 06/30/2025 |
| 10 | St. James's Place Unit Trust - Emerging Markets Equity | 6,121,680 | 0 | 76,153,699.2 | 0.7176 | 0.1645 | 03/31/2025 |
| 11 | Lazard Emerging Markets Equity Portfolio | 4,869,247 | 537,894 | 60,573,432.68 | 1.082 | 0.1309 | 08/31/2025 |
| 12 | Schroder ISF - Emerging Markets | 4,722,716 | 242,496 | 58,750,587.04 | 0.9026 | 0.1269 | 08/31/2025 |
| 13 | Hartford Schroders Emerging Markets Equity Fund | 4,629,234 | -85,593 | 57,587,670.96 | 0.8971 | 0.1244 | 08/31/2025 |
| 14 | GQG Global UCITS ICAV - Partners Emerging Markets Equity Fund | 4,518,933 | -323,444 | 56,215,526.52 | 2.2724 | 0.1214 | 06/30/2025 |
| 15 | Strategic Advisers Fidelity Emerging Markets Fund | 3,774,126 | -1,794,370 | 46,950,127.44 | 0.153 | 0.1014 | 08/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Capital Research & Management Co. (International Investors) | 17,619,209 | 17,619,209 | 219,182,959.96 | 0.0341 | 0.4735 | 06/30/2025 |
| 2 | Schroder & Co. Ltd. | 11,523,112 | 11,523,112 | 143,347,513.28 | 1.1313 | 0.3097 | 06/30/2025 |
| 3 | Schroder Investment Management North America, Inc. | 19,738,131 | 8,822,922 | 245,542,349.64 | 0.2537 | 0.5304 | 06/30/2025 |
| 4 | Invesco Asset Management Ltd. | 10,203,104 | 8,576,084 | 126,926,613.76 | 0.1444 | 0.2742 | 06/30/2025 |
| 5 | Marshall Wace LLP | 5,874,953 | 5,874,953 | 73,084,415.32 | 0.0797 | 0.1579 | 06/30/2025 |
| 6 | T. Rowe Price Hong Kong Ltd. | 5,061,010 | 5,061,010 | 62,958,964.4 | 0.2623 | 0.136 | 06/30/2025 |
| 7 | UBS Asset Management (Americas) LLC | 4,986,187 | 4,986,187 | 62,028,166.28 | 0.0446 | 0.134 | 06/30/2025 |
| 8 | Renaissance Technologies LLC | 10,002,800 | 3,525,900 | 124,434,832 | 0.1513 | 0.2688 | 06/30/2025 |
| 9 | SPX Gestao de Recursos Ltda. | 4,990,500 | 3,470,112 | 62,081,820 | 2.4987 | 0.1341 | 06/30/2025 |
| 10 | Massachusetts Financial Services Co. | 11,214,925 | 2,859,254 | 139,513,667 | 0.0423 | 0.3014 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | GQG Partners LLC | 221,361,832 | -34,737,050 | 2,753,741,190.08 | 2.1066 | 5.9488 | 06/30/2025 |
| 2 | Arrowstreet Capital LP | 0 | -21,203,283 | 0 | 0 | 0 | |
| 3 | Schroder Investment Management Ltd. | 0 | -18,884,609 | 0 | 0 | 0 | |
| 4 | Baillie Gifford & Co. | 40,397,064 | -11,351,683 | 502,539,476.16 | 0.2453 | 1.0856 | 06/30/2025 |
| 5 | T. Rowe Price Singapore Pte Ltd. | 0 | -7,361,580 | 0 | 0 | 0 | |
| 6 | Towers Watson Investment Management Ltd. | 0 | -5,517,641 | 0 | 0 | 0 | |
| 7 | Voloridge Investment Management LLC | 11,396 | -5,259,240 | 141,766.24 | 0.0005 | 0.0003 | 06/30/2025 |
| 8 | Carrhae Capital LLP | 0 | -4,516,382 | 0 | 0 | 0 | |
| 9 | Fidelity Management & Research (Hong Kong) Ltd. | 0 | -4,001,022 | 0 | 0 | 0 | |
| 10 | Susquehanna Financial Group LLLP | 1,121,430 | -3,680,667 | 13,950,589.2 | 0.0197 | 0.0301 | 06/30/2025 |
Data provided by FactSet Research Systems Inc.