| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Baillie Gifford & Co. | 6,233,717 | -2,628,165 | 553,554,069.6 | 0.3197 | 4.3648 | 12/31/2025 |
| 2 | Manning & Napier Advisors LLC | 2,209,096 | -959,226 | 196,167,724.8 | 2.3739 | 1.5468 | 12/31/2025 |
| 3 | EARNEST Partners LLC | 2,106,810 | 195,142 | 187,084,728 | 0.6161 | 1.4752 | 12/31/2025 |
| 4 | Van Eck Associates Corp. | 2,089,638 | 413,246 | 185,559,854.4 | 0.1054 | 1.4631 | 12/31/2025 |
| 5 | Grantham, Mayo, Van Otterloo & Co. LLC | 1,712,940 | -233,324 | 152,109,072 | 0.2747 | 1.1994 | 12/31/2025 |
| 6 | RWC Asset Advisors (US) LLC | 1,462,794 | 230,132 | 129,896,107.2 | 1.8433 | 1.0242 | 12/31/2025 |
| 7 | Global X Management Co. LLC | 1,193,423 | -335,858 | 105,975,962.4 | 0.1095 | 0.8356 | 12/31/2025 |
| 8 | Castle Hook Partners LP | 1,006,637 | 1,006,637 | 89,389,365.6 | 1.1581 | 0.7048 | 12/31/2025 |
| 9 | RWC Asset Management LLP | 846,610 | -267,197 | 75,178,968 | 0.7093 | 0.5928 | 12/31/2025 |
| 10 | Driehaus Capital Management LLC | 747,890 | 747,890 | 66,412,632 | 0.2942 | 0.5237 | 12/31/2025 |
| 11 | Nomura Investment Management Business Trust | 704,221 | -312,097 | 62,534,824.8 | 0.0793 | 0.4931 | 12/31/2025 |
| 12 | Robeco Schweiz AG | 685,200 | -56,200 | 60,845,760 | 0.5257 | 0.4798 | 12/31/2025 |
| 13 | Schroder Investment Management Ltd. | 678,353 | 187,135 | 60,237,746.4 | 0.0227 | 0.475 | 12/31/2025 |
| 14 | BlackRock Fund Advisors | 653,635 | 91,947 | 58,042,788 | 0.0012 | 0.4577 | 12/31/2025 |
| 15 | SEI Investments Management Corp. | 635,388 | 5,580 | 56,422,454.4 | 0.0473 | 0.4449 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | VanEck Rare Earth and Strategic Metals ETF | 1,820,206 | 744,863 | 161,634,292.8 | 5.3663 | 1.2745 | 03/31/2026 |
| 2 | Baillie Gifford Emerging Markets Equities Fund | 1,312,674 | -621,564 | 116,565,451.2 | 1.3971 | 0.9191 | 12/31/2025 |
| 3 | iShares Tr. - Latin America 40 ETF | 937,845 | 408,445 | 83,280,636 | 1.8393 | 0.6567 | 03/31/2026 |
| 4 | VanEck UCITS ETFs Plc - Rare Earth & Strategic Metals UCITS | 868,412 | 510,993 | 77,114,985.6 | 5.3993 | 0.6081 | 03/31/2026 |
| 5 | Global X Lithium & Battery Tech ETF | 857,634 | -500,537 | 76,157,899.2 | 3.9874 | 0.6005 | 03/31/2026 |
| 6 | EARNEST Partners International Fund | 524,524 | 28,045 | 46,577,731.2 | 1.6554 | 0.3673 | 03/31/2026 |
| 7 | Redwheel Next Generation Emerging Markets Equity Fund | 496,755 | -171,622 | 44,111,844 | 1.7576 | 0.3478 | 02/27/2026 |
| 8 | GMO Resources Fund | 480,962 | -148,400 | 42,709,425.6 | 3.1427 | 0.3368 | 12/31/2025 |
| 9 | Baron Emerging Markets Fund | 478,333 | -39,819 | 42,475,970.4 | 1.0795 | 0.3349 | 02/28/2026 |
| 10 | State Board of Administration of Florida Retirement System | 436,590 | 121,177 | 38,769,192 | 0.033 | 0.3057 | 12/31/2025 |
| 11 | Driehaus Mutual Funds - Emerging Markets Growth Fund | 322,452 | 322,452 | 28,633,737.6 | 0.6036 | 0.2258 | 12/31/2025 |
| 12 | SMDAM Global EV Related Equity Mother Fund | 320,700 | 0 | 28,478,160 | 4.8102 | 0.2246 | 07/23/2025 |
| 13 | Baillie Gifford Overseas Growth Fund - Emer. Mkts. Leading Co. | 312,111 | -67,463 | 27,715,456.8 | 2.5933 | 0.2185 | 03/31/2026 |
| 14 | Nomura Emerging Markets Fund | 300,000 | -500,000 | 26,640,000 | 0.2392 | 0.2101 | 02/27/2026 |
| 15 | L&G Battery Value-Chain UCITS ETF | 294,424 | 294,424 | 26,144,851.2 | 2.9955 | 0.2062 | 03/31/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Castle Hook Partners LP | 1,006,637 | 1,006,637 | 89,389,365.6 | 1.1581 | 0.7048 | 12/31/2025 |
| 2 | Driehaus Capital Management LLC | 747,890 | 747,890 | 66,412,632 | 0.2942 | 0.5237 | 12/31/2025 |
| 3 | Van Eck Associates Corp. | 2,089,638 | 413,246 | 185,559,854.4 | 0.1054 | 1.4631 | 12/31/2025 |
| 4 | Balyasny Asset Management LP | 392,052 | 392,052 | 34,814,217.6 | 0.0656 | 0.2745 | 12/31/2025 |
| 5 | Citadel Securities LLC | 347,986 | 311,670 | 30,901,156.8 | 0.0613 | 0.2437 | 12/31/2025 |
| 6 | Wealth High Governance Capital Ltda | 305,131 | 305,131 | 27,095,632.8 | 2.8534 | 0.2136 | 12/31/2025 |
| 7 | Legal & General Investment Management Ltd. | 289,701 | 285,668 | 25,725,448.8 | 0.0087 | 0.2028 | 12/31/2025 |
| 8 | BW Gestao de Investimentos Ltda. | 283,254 | 283,254 | 25,152,955.2 | 0.5302 | 0.1983 | 12/31/2025 |
| 9 | RWC Asset Advisors (US) LLC | 1,462,794 | 230,132 | 129,896,107.2 | 1.8433 | 1.0242 | 12/31/2025 |
| 10 | Goldman Sachs & Co. LLC (Private Banking) | 352,910 | 216,771 | 31,338,408 | 0.0134 | 0.2471 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Baillie Gifford & Co. | 6,233,717 | -2,628,165 | 553,554,069.6 | 0.3197 | 4.3648 | 12/31/2025 |
| 2 | Manning & Napier Advisors LLC | 2,209,096 | -959,226 | 196,167,724.8 | 2.3739 | 1.5468 | 12/31/2025 |
| 3 | Kopernik Global Investors LLC | 0 | -812,944 | 0 | 0 | 0 | |
| 4 | BofA Securities, Inc. | 22,696 | -480,254 | 2,015,404.8 | 0.003 | 0.0159 | 12/31/2025 |
| 5 | RBC Dominion Securities, Inc. (Investment Management) | 11,172 | -478,266 | 992,073.6 | 0.0009 | 0.0078 | 12/31/2025 |
| 6 | Barclays Bank Plc (Private Banking) | 227,747 | -392,917 | 20,223,933.6 | 0.0101 | 0.1595 | 12/31/2025 |
| 7 | Global X Management Co. LLC | 1,193,423 | -335,858 | 105,975,962.4 | 0.1095 | 0.8356 | 12/31/2025 |
| 8 | Nomura Investment Management Business Trust | 704,221 | -312,097 | 62,534,824.8 | 0.0793 | 0.4931 | 12/31/2025 |
| 9 | RWC Asset Management LLP | 846,610 | -267,197 | 75,178,968 | 0.7093 | 0.5928 | 12/31/2025 |
| 10 | Grantham, Mayo, Van Otterloo & Co. LLC | 1,712,940 | -233,324 | 152,109,072 | 0.2747 | 1.1994 | 12/31/2025 |
Data provided by FactSet Research Systems Inc.