| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Capital Research & Management Co. (World Investors) | 89,322,261 | 39,508,054 | 1,370,203,483.74 | 0.1361 | 1.9679 | 12/31/2025 |
| 2 | GQG Partners LLC | 65,132,572 | 18,926,062 | 999,133,654.48 | 0.7507 | 1.435 | 12/31/2025 |
| 3 | BlackRock Investment Management (UK) Ltd. | 43,043,875 | 8,650,071 | 660,293,042.5 | 0.0796 | 0.9483 | 12/31/2025 |
| 4 | Arrowstreet Capital LP | 41,596,000 | 41,596,000 | 638,082,640 | 0.3484 | 0.9164 | 12/31/2025 |
| 5 | Fidelity Management & Research Co. LLC | 35,906,718 | -26,343,598 | 550,809,054.12 | 0.0306 | 0.7911 | 12/31/2025 |
| 6 | Capital Research & Management Co. (International Investors) | 27,642,423 | -16,662,698 | 424,034,768.82 | 0.0613 | 0.609 | 12/31/2025 |
| 7 | Lazard Asset Management LLC | 22,480,635 | 2,400,413 | 344,852,940.9 | 0.2974 | 0.4953 | 12/31/2025 |
| 8 | Fisher Asset Management LLC | 21,597,376 | -107,884 | 331,303,747.84 | 0.1102 | 0.4758 | 12/31/2025 |
| 9 | Robeco Institutional Asset Management BV | 20,809,302 | 8,758,656 | 319,214,692.68 | 0.2825 | 0.4585 | 12/31/2025 |
| 10 | FIAM LLC | 18,725,993 | -5,129,666 | 287,256,732.62 | 0.1406 | 0.4126 | 12/31/2025 |
| 11 | Orbis Investment Management Ltd. | 18,242,181 | -1,423,208 | 279,835,056.54 | 0.7047 | 0.4019 | 12/31/2025 |
| 12 | Connor, Clark & Lunn Investment Management Ltd. | 17,937,883 | 7,773,937 | 275,167,125.22 | 0.632 | 0.3952 | 12/31/2025 |
| 13 | BlackRock Fund Advisors | 17,099,848 | 4,180,705 | 262,311,668.32 | 0.0055 | 0.3767 | 12/31/2025 |
| 14 | Invesco Asset Management Ltd. | 16,356,231 | -6,646,606 | 250,904,583.54 | 0.2495 | 0.3603 | 12/31/2025 |
| 15 | Mondrian Investment Partners Ltd. | 11,419,957 | -149,240 | 175,182,140.38 | 1.0509 | 0.2516 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | GQG Partners Emerging Markets Equity Fund | 34,800,434 | 10,975,787 | 533,838,657.56 | 2.3044 | 0.7667 | 12/31/2025 |
| 2 | American Balanced Fund | 34,792,169 | 23,571,658 | 533,711,872.46 | 0.291 | 0.7665 | 12/31/2025 |
| 3 | BlackRock World Mining Fund | 23,621,569 | 8,430,623 | 362,354,868.46 | 4.7582 | 0.5204 | 01/31/2026 |
| 4 | iShares Tr. - Latin America 40 ETF | 23,423,612 | 10,415,556 | 359,318,208.08 | 8.5742 | 0.5161 | 02/27/2026 |
| 5 | American Funds EuroPacific Growth Fund | 22,988,209 | -5,891,970 | 352,639,126.06 | 0.2636 | 0.5065 | 12/31/2025 |
| 6 | American Funds Income Fund of America | 16,285,994 | 16,285,994 | 249,827,147.96 | 0.2369 | 0.3588 | 12/31/2025 |
| 7 | Invesco Developing Markets Fund | 13,492,161 | -17,386,621 | 206,969,749.74 | 2.2547 | 0.2972 | 01/31/2026 |
| 8 | Fidelity Inv. Trust - Emerging Markets Opportunities Fund | 11,591,770 | -4,092,900 | 177,817,751.8 | 0.6367 | 0.2554 | 01/31/2026 |
| 9 | American Funds New Perspective Fund | 11,225,003 | -1,168,020 | 172,191,546.02 | 0.1098 | 0.2473 | 12/31/2025 |
| 10 | American Funds Capital World Growth & Income Fund | 9,999,903 | 0 | 153,398,512.02 | 0.1067 | 0.2203 | 12/31/2025 |
| 11 | BlackRock World Mining Trust Plc | 8,336,173 | 83,044 | 127,876,893.82 | 5.1308 | 0.1837 | 02/27/2026 |
| 12 | Avantis Emerging Markets Equity ETF | 7,280,701 | 3,274,354 | 111,685,953.34 | 0.5392 | 0.1604 | 02/27/2026 |
| 13 | Capital Income Builder | 6,898,935 | 0 | 105,829,662.9 | 0.1078 | 0.152 | 12/31/2025 |
| 14 | Lazard Emerging Markets Equity Portfolio | 6,885,343 | 794,402 | 105,621,161.62 | 1.3873 | 0.1517 | 01/31/2026 |
| 15 | MFS Emerging Markets Equity Fund | 6,721,566 | -7,963,874 | 103,108,822.44 | 1.0195 | 0.1481 | 01/31/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Arrowstreet Capital LP | 41,596,000 | 41,596,000 | 638,082,640 | 0.3484 | 0.9164 | 12/31/2025 |
| 2 | Capital Research & Management Co. (World Investors) | 89,322,261 | 39,508,054 | 1,370,203,483.74 | 0.1361 | 1.9679 | 12/31/2025 |
| 3 | GQG Partners LLC | 65,132,572 | 18,926,062 | 999,133,654.48 | 0.7507 | 1.435 | 12/31/2025 |
| 4 | Robeco Institutional Asset Management BV | 20,809,302 | 8,758,656 | 319,214,692.68 | 0.2825 | 0.4585 | 12/31/2025 |
| 5 | BlackRock Investment Management (UK) Ltd. | 43,043,875 | 8,650,071 | 660,293,042.5 | 0.0796 | 0.9483 | 12/31/2025 |
| 6 | Connor, Clark & Lunn Investment Management Ltd. | 17,937,883 | 7,773,937 | 275,167,125.22 | 0.632 | 0.3952 | 12/31/2025 |
| 7 | Two Sigma Investments LP | 7,758,691 | 7,758,691 | 119,018,319.94 | 0.1782 | 0.1709 | 12/31/2025 |
| 8 | Holocene Advisors, LP | 7,532,061 | 7,532,061 | 115,541,815.74 | 0.2479 | 0.1659 | 12/31/2025 |
| 9 | AQR Capital Management LLC | 9,530,954 | 7,525,090 | 146,204,834.36 | 0.0698 | 0.21 | 12/31/2025 |
| 10 | RWC Asset Advisors (US) LLC | 6,523,762 | 6,523,762 | 100,074,509.08 | 1.5044 | 0.1437 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Fidelity Management & Research Co. LLC | 35,906,718 | -26,343,598 | 550,809,054.12 | 0.0306 | 0.7911 | 12/31/2025 |
| 2 | Capital Research & Management Co. (International Investors) | 27,642,423 | -16,662,698 | 424,034,768.82 | 0.0613 | 0.609 | 12/31/2025 |
| 3 | Massachusetts Financial Services Co. | 8,259,913 | -7,577,254 | 126,707,065.42 | 0.0411 | 0.182 | 12/31/2025 |
| 4 | Invesco Asset Management Ltd. | 16,356,231 | -6,646,606 | 250,904,583.54 | 0.2495 | 0.3603 | 12/31/2025 |
| 5 | Goldman Sachs International | 6,524,162 | -5,258,680 | 100,080,645.08 | 0.9547 | 0.1437 | 12/31/2025 |
| 6 | FIAM LLC | 18,725,993 | -5,129,666 | 287,256,732.62 | 0.1406 | 0.4126 | 12/31/2025 |
| 7 | Susquehanna Financial Group LLLP | 4,003,524 | -4,421,145 | 61,414,058.16 | 0.0871 | 0.0882 | 12/31/2025 |
| 8 | Morgan Stanley & Co. LLC | 5,250,953 | -4,165,891 | 80,549,619.02 | 0.0288 | 0.1157 | 12/31/2025 |
| 9 | UBS Securities LLC | 4,166,649 | -3,686,551 | 63,916,395.66 | 0.0264 | 0.0918 | 12/31/2025 |
| 10 | Contrarian Capital Management LLC | 0 | -3,551,171 | 0 | 0 | 0 |
Data provided by FactSet Research Systems Inc.