| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Helikon Investments Ltd. | 3,283,265 | 3,283,265 | 100,172,415.15 | 1.4848 | 4.7232 | 12/31/2025 |
| 2 | SPX Gestao de Recursos Ltda. | 1,206,803 | 369,661 | 36,819,559.53 | 1.2099 | 1.7361 | 12/31/2025 |
| 3 | Global X Management Co. LLC | 1,103,816 | -523,763 | 33,677,426.16 | 0.0355 | 1.5879 | 12/31/2025 |
| 4 | Fundamenta Capital SA (Uruguay) | 597,147 | 597,147 | 18,218,954.97 | 11.5969 | 0.859 | 12/31/2025 |
| 5 | TT International Asset Management Ltd. | 387,255 | -606,679 | 11,815,150.05 | 0.7 | 0.5571 | 12/31/2025 |
| 6 | Voloridge Investment Management LLC | 271,174 | 144,085 | 8,273,518.74 | 0.0282 | 0.3901 | 12/31/2025 |
| 7 | Boston Management & Research | 243,880 | 140,264 | 7,440,778.8 | 0.0123 | 0.3508 | 12/31/2025 |
| 8 | Ayalon Mutual Funds Ltd. | 206,085 | 30,289 | 6,287,653.35 | 0.3269 | 0.2965 | 11/26/2025 |
| 9 | VR Advisory Services (USA) LLC | 195,115 | -20,646 | 5,952,958.65 | 0.9065 | 0.2807 | 12/31/2025 |
| 10 | Fourth Sail Capital LP | 191,630 | -61,538 | 5,846,631.3 | 0.546 | 0.2757 | 12/31/2025 |
| 11 | Goldman Sachs & Co. LLC (Private Banking) | 180,256 | 170,193 | 5,499,610.56 | 0.0024 | 0.2593 | 12/31/2025 |
| 12 | Morgan Stanley & Co. International Plc | 169,126 | 66,182 | 5,160,034.26 | 0.0468 | 0.2433 | 12/31/2025 |
| 13 | CI Investments, Inc. | 163,504 | 163,504 | 4,988,507.04 | 0.0119 | 0.2352 | 12/31/2025 |
| 14 | Moneda SA Administradora General de Fondos | 134,568 | 134,568 | 4,105,669.68 | 0.3207 | 0.1936 | 12/31/2025 |
| 15 | Mackenzie Financial Corp. | 126,400 | 78,700 | 3,856,464 | 0.0034 | 0.1818 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Global X MSCI Argentina ETF | 1,193,529 | -309,344 | 36,414,569.79 | 4.3106 | 1.717 | 01/30/2026 |
| 2 | TT International Funds Plc - Emerging Markets Unconstrained | 362,893 | -292,620 | 11,071,865.43 | 1.5911 | 0.522 | 11/30/2025 |
| 3 | Eaton Vance Emerging & Frontier Countries Equity Fund | 185,180 | 81,564 | 5,649,841.8 | 0.1759 | 0.2664 | 12/31/2025 |
| 4 | Eaton Vance Global Macro Capital Opportunities Portfolio | 159,480 | 55,864 | 4,865,734.8 | 0.1596 | 0.2294 | 10/31/2025 |
| 5 | Ayalon Zvulun 4D Global Stocks | 137,300 | 23,900 | 4,189,023 | 6.8816 | 0.1975 | 11/26/2025 |
| 6 | Kempen Intl. Funds - (Lux) Global Listed Infrastructure Fund | 101,016 | -31,277 | 3,081,998.16 | 1.0499 | 0.1453 | 01/31/2026 |
| 7 | AYALON ZVULUN 5E Long Short Global Mutual Hedge Fund | 60,180 | 0 | 1,836,091.8 | 4.4917 | 0.0866 | 11/26/2025 |
| 8 | Eaton Vance Global Macro Absolute Return Advantage Portfolio | 53,300 | 53,300 | 1,626,183 | 0.5684 | 0.0767 | 10/31/2025 |
| 9 | ART Global Macro | 40,000 | 0 | 1,220,400 | 0.8164 | 0.0575 | 04/30/2025 |
| 10 | Mackenzie Global Energy Opp. Long/Short Fund | 35,000 | 35,000 | 1,067,850 | 1.6926 | 0.0503 | 09/30/2025 |
| 11 | Ashmore Emerging Markets Frontier Equity Fund | 34,072 | 34,072 | 1,039,536.72 | 0.9331 | 0.049 | 10/31/2025 |
| 12 | Ashmore SICAV - Emerging Markets Frontier Equity Fund | 32,515 | 32,515 | 992,032.65 | 0.9696 | 0.0468 | 12/31/2025 |
| 13 | Pictet TR - Diversified Alpha | 30,983 | 0 | 945,291.33 | 0.0593 | 0.0446 | 06/30/2025 |
| 14 | Canada Life Global Resources Fund | 24,500 | 0 | 747,495 | 0.1821 | 0.0352 | 11/30/2025 |
| 15 | Mackenzie Global Resource Fund | 24,500 | 0 | 747,495 | 0.2479 | 0.0352 | 11/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Helikon Investments Ltd. | 3,283,265 | 3,283,265 | 100,172,415.15 | 1.4848 | 4.7232 | 12/31/2025 |
| 2 | Fundamenta Capital SA (Uruguay) | 597,147 | 597,147 | 18,218,954.97 | 11.5969 | 0.859 | 12/31/2025 |
| 3 | SPX Gestao de Recursos Ltda. | 1,206,803 | 369,661 | 36,819,559.53 | 1.2099 | 1.7361 | 12/31/2025 |
| 4 | Goldman Sachs & Co. LLC (Private Banking) | 180,256 | 170,193 | 5,499,610.56 | 0.0024 | 0.2593 | 12/31/2025 |
| 5 | CI Investments, Inc. | 163,504 | 163,504 | 4,988,507.04 | 0.0119 | 0.2352 | 12/31/2025 |
| 6 | Voloridge Investment Management LLC | 271,174 | 144,085 | 8,273,518.74 | 0.0282 | 0.3901 | 12/31/2025 |
| 7 | Boston Management & Research | 243,880 | 140,264 | 7,440,778.8 | 0.0123 | 0.3508 | 12/31/2025 |
| 8 | Moneda SA Administradora General de Fondos | 134,568 | 134,568 | 4,105,669.68 | 0.3207 | 0.1936 | 12/31/2025 |
| 9 | Wexford Capital LP | 89,805 | 89,805 | 2,739,950.55 | 0.3168 | 0.1292 | 12/31/2025 |
| 10 | Citigroup Global Markets, Inc. (Investment Management) | 82,178 | 82,178 | 2,507,250.78 | 0.0018 | 0.1182 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Encompass Capital Advisors LLC | 0 | -1,000,000 | 0 | 0 | 0 | |
| 2 | TT International Asset Management Ltd. | 387,255 | -606,679 | 11,815,150.05 | 0.7 | 0.5571 | 12/31/2025 |
| 3 | Global X Management Co. LLC | 1,103,816 | -523,763 | 33,677,426.16 | 0.0355 | 1.5879 | 12/31/2025 |
| 4 | Balyasny Asset Management LP | 104,369 | -305,443 | 3,184,298.19 | 0.0058 | 0.1501 | 12/31/2025 |
| 5 | Arrowstreet Capital LP | 0 | -182,354 | 0 | 0 | 0 | |
| 6 | Oaktree Capital Management LP | 0 | -137,630 | 0 | 0 | 0 | |
| 7 | Marshall Wace LLP | 0 | -117,680 | 0 | 0 | 0 | |
| 8 | JPMorgan Securities LLC (Investment Management) | 9,258 | -104,815 | 282,461.58 | 0.0002 | 0.0133 | 12/31/2025 |
| 9 | Cubist Systematic Strategies LLC | 0 | -101,094 | 0 | 0 | 0 | |
| 10 | Fourth Sail Capital LP | 191,630 | -61,538 | 5,846,631.3 | 0.546 | 0.2757 | 12/31/2025 |
Data provided by FactSet Research Systems Inc.