| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Aquamarine Financial (Cayman) Ltd. | 9,026,675 | -1,465,882 | 416,310,251 | 29.3244 | 2.2953 | 03/31/2026 |
| 2 | North of South Capital LLP | 3,524,252 | 1,853,874 | 162,538,502.24 | 2.7469 | 0.8962 | 03/31/2026 |
| 3 | JPMorgan Investment Management, Inc. | 3,452,727 | 890,301 | 159,239,769.24 | 0.0153 | 0.878 | 03/31/2026 |
| 4 | Duquesne Family Office LLC | 3,235,962 | 2,628,972 | 149,242,567.44 | 3.9915 | 0.8229 | 03/31/2026 |
| 5 | VR Advisory Services (USA) LLC | 3,231,396 | 0 | 149,031,983.52 | 16.6693 | 0.8217 | 03/31/2026 |
| 6 | Global X Management Co. LLC | 1,732,061 | 68,243 | 79,882,653.32 | 0.0767 | 0.4404 | 03/31/2026 |
| 7 | Ping Capital Management, Inc. | 1,378,200 | -570,500 | 63,562,584 | 23.9127 | 0.3505 | 03/31/2026 |
| 8 | TT International Asset Management Ltd. | 1,289,597 | 1,263,788 | 59,476,213.64 | 2.5611 | 0.3279 | 03/31/2026 |
| 9 | Jane Street Capital LLC | 1,223,721 | 1,067,159 | 56,438,012.52 | 0.0491 | 0.3112 | 03/31/2026 |
| 10 | Boston Management & Research | 1,210,361 | 557,048 | 55,821,849.32 | 0.0838 | 0.3078 | 03/31/2026 |
| 11 | Russell Investment Management LLC | 1,064,621 | 610,826 | 49,100,320.52 | 0.0412 | 0.2707 | 03/31/2026 |
| 12 | JPMorgan Asset Management (UK) Ltd. | 1,059,441 | 150,674 | 48,861,418.92 | 0.0267 | 0.2694 | 03/31/2026 |
| 13 | Grantham, Mayo, Van Otterloo & Co. LLC | 926,178 | -219,700 | 42,715,329.36 | 0.0727 | 0.2355 | 03/31/2026 |
| 14 | Oaktree Capital Management LP | 886,465 | 886,465 | 40,883,765.8 | 0.7087 | 0.2254 | 03/31/2026 |
| 15 | Goldman Sachs & Co. LLC (Private Banking) | 792,033 | 349,393 | 36,528,561.96 | 0.0111 | 0.2014 | 03/31/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | JPMorgan Emerging Markets Equity Fund | 2,053,035 | 616,296 | 94,685,974.2 | 0.8067 | 0.5221 | 05/31/2026 |
| 2 | Strategic Advisers Fidelity Emerging Markets Fund | 1,937,669 | 1,937,669 | 89,365,294.28 | 0.2154 | 0.4927 | 05/31/2026 |
| 3 | Fidelity Advisor Focused Emerging Markets Fund | 1,670,993 | 1,670,993 | 77,066,197.16 | 0.5668 | 0.4249 | 05/31/2026 |
| 4 | Global X MSCI Argentina ETF | 1,606,623 | -57,195 | 74,097,452.76 | 8.5378 | 0.4085 | 06/30/2026 |
| 5 | Pacific Capital UCITS Funds Plc - North of South EM | 1,326,815 | 674,065 | 61,192,707.8 | 1.4959 | 0.3374 | 03/31/2026 |
| 6 | JPMorgan Funds - Emerging Markets Equity Fund | 1,110,036 | 302,803 | 51,194,860.32 | 0.9164 | 0.2823 | 05/31/2026 |
| 7 | Fidelity Series Emerging Markets Fund | 970,274 | 970,274 | 44,749,036.88 | 0.5435 | 0.2467 | 05/31/2026 |
| 8 | Eaton Vance Emerging & Frontier Countries Equity Fund | 938,713 | 445,300 | 43,293,443.56 | 1.0993 | 0.2387 | 04/30/2026 |
| 9 | JPMorgan Fund ICVC - Emerging Markets Fund | 849,497 | 232,362 | 39,178,801.64 | 0.9197 | 0.216 | 05/31/2026 |
| 10 | Fidelity Inv. Trust - Emerging Markets Opportunities Fund | 820,700 | 820,700 | 37,850,684 | 0.1126 | 0.2087 | 05/31/2026 |
| 11 | GMO Resources Fund | 668,667 | -156,800 | 30,838,922.04 | 2.5885 | 0.17 | 03/31/2026 |
| 12 | Fidelity Strategic Advisers Emerging Markets Fund | 588,500 | 588,500 | 27,141,620 | 0.1614 | 0.1496 | 05/31/2026 |
| 13 | FIAM Select Emerging Markets Equity | 511,600 | 511,600 | 23,594,992 | 0.5876 | 0.1301 | 05/31/2026 |
| 14 | Eaton Vance Global Macro Capital Opportunities Portfolio | 493,413 | 30,600 | 22,756,207.56 | 0.6135 | 0.1255 | 01/31/2026 |
| 15 | Redwheel Funds SICAV - Next Generation Emerging Markets Eq Fd | 441,012 | 441,012 | 20,339,473.44 | 0.8792 | 0.1121 | 05/29/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Duquesne Family Office LLC | 3,235,962 | 2,628,972 | 149,242,567.44 | 3.9915 | 0.8229 | 03/31/2026 |
| 2 | North of South Capital LLP | 3,524,252 | 1,853,874 | 162,538,502.24 | 2.7469 | 0.8962 | 03/31/2026 |
| 3 | TT International Asset Management Ltd. | 1,289,597 | 1,263,788 | 59,476,213.64 | 2.5611 | 0.3279 | 03/31/2026 |
| 4 | Jane Street Capital LLC | 1,223,721 | 1,067,159 | 56,438,012.52 | 0.0491 | 0.3112 | 03/31/2026 |
| 5 | JPMorgan Investment Management, Inc. | 3,452,727 | 890,301 | 159,239,769.24 | 0.0153 | 0.878 | 03/31/2026 |
| 6 | Oaktree Capital Management LP | 886,465 | 886,465 | 40,883,765.8 | 0.7087 | 0.2254 | 03/31/2026 |
| 7 | Russell Investment Management LLC | 1,064,621 | 610,826 | 49,100,320.52 | 0.0412 | 0.2707 | 03/31/2026 |
| 8 | Millennium Management LLC | 736,463 | 586,553 | 33,965,673.56 | 0.0231 | 0.1873 | 03/31/2026 |
| 9 | BlackRock Investment Management (UK) Ltd. | 560,064 | 560,064 | 25,830,151.68 | 0.0029 | 0.1424 | 03/31/2026 |
| 10 | Boston Management & Research | 1,210,361 | 557,048 | 55,821,849.32 | 0.0838 | 0.3078 | 03/31/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Aquamarine Financial (Cayman) Ltd. | 9,026,675 | -1,465,882 | 416,310,251 | 29.3244 | 2.2953 | 03/31/2026 |
| 2 | Ping Capital Management, Inc. | 1,378,200 | -570,500 | 63,562,584 | 23.9127 | 0.3505 | 03/31/2026 |
| 3 | NWI Management LP | 0 | -226,475 | 0 | 0 | 0 | |
| 4 | Grantham, Mayo, Van Otterloo & Co. LLC | 926,178 | -219,700 | 42,715,329.36 | 0.0727 | 0.2355 | 03/31/2026 |
| 5 | Group One Trading LLC | 0 | -211,359 | 0 | 0 | 0 | |
| 6 | UBS Switzerland AG (Investment Management) | 284,800 | -195,283 | 13,134,976 | 0.0244 | 0.0724 | 03/31/2026 |
| 7 | Verition Fund Management LLC | 0 | -147,000 | 0 | 0 | 0 | |
| 8 | Citadel Securities LLC | 471,888 | -121,924 | 21,763,474.56 | 0.0441 | 0.12 | 03/31/2026 |
| 9 | Santander Asset Management SA SGIIC | 54,297 | -85,487 | 2,504,177.64 | 0.0162 | 0.0138 | 03/31/2026 |
| 10 | BofA Securities, Inc. | 0 | -81,269 | 0 | 0 | 0 |
Data provided by FactSet Research Systems Inc.