| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Lingotto Investment Management LLP | 28,430,409 | 0 | 316,714,756.26 | 4.9912 | 4.0176 | 12/31/2025 |
| 2 | Arrowstreet Capital LP | 7,315,944 | 3,820,419 | 81,499,616.16 | 0.0474 | 1.0338 | 12/31/2025 |
| 3 | Morgan Stanley & Co. LLC | 6,360,177 | -793,255 | 70,852,371.78 | 0.027 | 0.8988 | 12/31/2025 |
| 4 | Baker Steel Capital Managers LLP | 6,059,700 | 0 | 67,505,058 | 3.2025 | 0.8563 | 06/30/2025 |
| 5 | Condire Management LP | 5,244,469 | -1,142,270 | 58,423,384.66 | 4.7019 | 0.7411 | 12/31/2025 |
| 6 | Acadian Asset Management LLC | 4,826,515 | 2,420,083 | 53,767,377.1 | 0.0806 | 0.6821 | 12/31/2025 |
| 7 | T. Rowe Price Associates, Inc. (IM) | 4,422,648 | 4,422,648 | 49,268,298.72 | 0.0064 | 0.625 | 12/31/2025 |
| 8 | D. E. Shaw & Co. LP | 3,556,894 | -5,884,296 | 39,623,799.16 | 0.0326 | 0.5026 | 12/31/2025 |
| 9 | Goehring & Rozencwajg Associates LLC | 3,539,680 | 190,839 | 39,432,035.2 | 2.3218 | 0.5002 | 12/31/2025 |
| 10 | DWS Investments (UK) Ltd. | 3,469,111 | 3,469,111 | 38,645,896.54 | 0.0172 | 0.4902 | 12/31/2025 |
| 11 | UBS Securities LLC | 2,926,343 | 1,709,774 | 32,599,461.02 | 0.0143 | 0.4135 | 12/31/2025 |
| 12 | American Century Investment Management, Inc. | 2,566,468 | 569,862 | 28,590,453.52 | 0.0112 | 0.3627 | 12/31/2025 |
| 13 | Susquehanna Financial Group LLLP | 2,481,695 | 2,219,922 | 27,646,082.3 | 0.0422 | 0.3507 | 12/31/2025 |
| 14 | Two Sigma Advisers LP | 2,428,800 | -3,356,500 | 27,056,832 | 0.0558 | 0.3432 | 12/31/2025 |
| 15 | Lord, Abbett & Co. LLC | 2,335,343 | 2,335,343 | 26,015,721.02 | 0.0758 | 0.33 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Bakersteel Global Funds SICAV - Precious Metals Fund | 5,709,400 | 0 | 63,602,716 | 3.6845 | 0.8068 | 06/30/2025 |
| 2 | Xtrackers SICAV - S&P 500 Swap UCITS ETF | 3,281,898 | 705,784 | 36,560,343.72 | 0.3688 | 0.4638 | 02/27/2026 |
| 3 | T Rowe Price New Horizons Fund | 2,667,700 | 2,667,700 | 29,718,178 | 0.2304 | 0.377 | 12/31/2025 |
| 4 | Avantis Emerging Markets Equity ETF | 2,456,631 | 807,664 | 27,366,869.34 | 0.1411 | 0.3472 | 02/27/2026 |
| 5 | Lord Abbett Bond Debenture Fund Inc. | 2,031,007 | 2,031,007 | 22,625,417.98 | -7.301 | 0.287 | 12/31/2025 |
| 6 | FundRock UCITS Plat. I - Goehring & Rozencwajg Resources | 1,798,412 | 0 | 20,034,309.68 | 2.8339 | 0.2541 | 05/31/2025 |
| 7 | Goehring & Rozencwajg Resources Fund | 1,781,071 | 0 | 19,841,130.94 | 2.3062 | 0.2517 | 11/30/2025 |
| 8 | M&W Invest: M&W Privat | 1,700,000 | 0 | 18,938,000 | 3.5752 | 0.2402 | 12/30/2024 |
| 9 | Xtrackers SICAV - MSCI World Swap UCITS ETF | 1,291,147 | -2,502,048 | 14,383,377.58 | 0.1369 | 0.1825 | 02/27/2026 |
| 10 | Delphi Global | 1,262,539 | 1,262,539 | 14,064,684.46 | 1.812 | 0.1784 | 01/31/2026 |
| 11 | Strategic Advisers Fidelity Emerging Markets Fund | 951,008 | 951,008 | 10,594,229.12 | 0.0327 | 0.1344 | 01/31/2026 |
| 12 | Fidelity Funds SICAV - Emerging Markets Fund | 885,014 | 885,014 | 9,859,055.96 | 0.2932 | 0.1251 | 01/31/2026 |
| 13 | DFA Emerging Markets Core Equity 2 Portfolio | 851,118 | 0 | 9,481,454.52 | 0.0273 | 0.1203 | 12/31/2025 |
| 14 | JPMorgan Fund ICVC - Natural Resources Fund | 452,443 | 452,443 | 5,040,215.02 | 0.3099 | 0.0639 | 02/28/2026 |
| 15 | Lumyna - MW TOPS UCITS Fund | 443,977 | 0 | 4,945,903.78 | 0.1946 | 0.0627 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | T. Rowe Price Associates, Inc. (IM) | 4,422,648 | 4,422,648 | 49,268,298.72 | 0.0064 | 0.625 | 12/31/2025 |
| 2 | Arrowstreet Capital LP | 7,315,944 | 3,820,419 | 81,499,616.16 | 0.0474 | 1.0338 | 12/31/2025 |
| 3 | DWS Investments (UK) Ltd. | 3,469,111 | 3,469,111 | 38,645,896.54 | 0.0172 | 0.4902 | 12/31/2025 |
| 4 | Acadian Asset Management LLC | 4,826,515 | 2,420,083 | 53,767,377.1 | 0.0806 | 0.6821 | 12/31/2025 |
| 5 | Lord, Abbett & Co. LLC | 2,335,343 | 2,335,343 | 26,015,721.02 | 0.0758 | 0.33 | 12/31/2025 |
| 6 | Susquehanna Financial Group LLLP | 2,481,695 | 2,219,922 | 27,646,082.3 | 0.0422 | 0.3507 | 12/31/2025 |
| 7 | Connor, Clark & Lunn Investment Management Ltd. | 1,846,682 | 1,834,289 | 20,572,037.48 | 0.0503 | 0.261 | 12/31/2025 |
| 8 | UBS Securities LLC | 2,926,343 | 1,709,774 | 32,599,461.02 | 0.0143 | 0.4135 | 12/31/2025 |
| 9 | Point72 Asset Management LP | 1,814,607 | 1,430,807 | 20,214,721.98 | 0.0332 | 0.2564 | 12/31/2025 |
| 10 | Assenagon Asset Management SA (Germany) | 1,427,032 | 1,299,710 | 15,897,136.48 | 0.0239 | 0.2017 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | TIAA-CREF Investment Management LLC | 0 | -6,148,625 | 0 | 0 | 0 | |
| 2 | D. E. Shaw & Co. LP | 3,556,894 | -5,884,296 | 39,623,799.16 | 0.0326 | 0.5026 | 12/31/2025 |
| 3 | Two Sigma Investments LP | 2,156,966 | -5,093,194 | 24,028,601.24 | 0.038 | 0.3048 | 12/31/2025 |
| 4 | JPMorgan Securities LLC (Investment Management) | 1,563,686 | -4,841,012 | 17,419,462.04 | 0.0126 | 0.221 | 12/31/2025 |
| 5 | Marshall Wace LLP | 73,170 | -4,679,688 | 815,113.8 | 0.0008 | 0.0103 | 12/31/2025 |
| 6 | Voloridge Investment Management LLC | 1,377,911 | -3,544,970 | 15,349,928.54 | 0.0566 | 0.1947 | 12/31/2025 |
| 7 | Two Sigma Advisers LP | 2,428,800 | -3,356,500 | 27,056,832 | 0.0558 | 0.3432 | 12/31/2025 |
| 8 | Renaissance Technologies LLC | 0 | -2,967,604 | 0 | 0 | 0 | |
| 9 | Teachers Advisors LLC | 0 | -2,813,722 | 0 | 0 | 0 | |
| 10 | Leap Investments LP | 69,300 | -2,599,900 | 772,002 | 0.0154 | 0.0098 | 12/31/2025 |
Data provided by FactSet Research Systems Inc.