| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Naman Capital Ltda. | 14,079,999 | 0 | 41,535,997.05 | 7.0034 | 1.2623 | 03/31/2025 |
| 2 | Polunin Capital Partners Ltd. | 9,457,242 | 9,457,242 | 27,898,863.9 | 2.6658 | 0.8479 | 06/30/2025 |
| 3 | BlackRock Fund Advisors | 3,439,104 | -473,569 | 10,145,356.8 | 0.0002 | 0.3083 | 03/31/2025 |
| 4 | Parametric Portfolio Associates LLC | 3,082,993 | 1,165,484 | 9,094,829.35 | 0.0027 | 0.2764 | 03/31/2025 |
| 5 | Marshall Wace LLP | 2,621,411 | -199,714 | 7,733,162.45 | 0.0088 | 0.235 | 03/31/2025 |
| 6 | Renaissance Technologies LLC | 2,151,800 | -1,362,000 | 6,347,810 | 0.0084 | 0.1929 | 03/31/2025 |
| 7 | American Century Investment Management, Inc. | 1,892,257 | 116,150 | 5,582,158.15 | 0.0024 | 0.1696 | 03/31/2025 |
| 8 | SLGI Asset Management, Inc. | 1,626,160 | 0 | 4,797,172 | 0.1012 | 0.1458 | 12/31/2024 |
| 9 | Qube Research & Technologies Ltd. | 1,614,294 | -310,533 | 4,762,167.3 | 0.0066 | 0.1447 | 03/31/2025 |
| 10 | Aperio Group LLC | 1,466,261 | 151,540 | 4,325,469.95 | 0.0038 | 0.1315 | 03/31/2025 |
| 11 | Acadian Asset Management LLC | 1,387,453 | -1,468,640 | 4,092,986.35 | 0.0086 | 0.1244 | 03/31/2025 |
| 12 | Two Sigma Investments LP | 1,341,648 | -312,725 | 3,957,861.6 | 0.0076 | 0.1203 | 03/31/2025 |
| 13 | Morgan Stanley & Co. LLC | 1,326,290 | -2,065,972 | 3,912,555.5 | 0.0013 | 0.1189 | 03/31/2025 |
| 14 | Two Sigma Advisers LP | 1,222,000 | -160,300 | 3,604,900 | 0.007 | 0.1096 | 03/31/2025 |
| 15 | JPMorgan Securities LLC (Investment Management) | 1,072,441 | -301,936 | 3,163,700.95 | 0.0016 | 0.0961 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Avantis Emerging Markets Equity ETF | 2,186,700 | 488,947 | 6,450,765 | 0.0576 | 0.196 | 06/30/2025 |
| 2 | iShares Tr. - Global Infrastructure ETF | 1,979,877 | 253,160 | 5,840,637.15 | 0.0784 | 0.1775 | 06/30/2025 |
| 3 | Old Westbury Small & Mid Cap Strategies Fund | 1,729,047 | 1,729,047 | 5,100,688.65 | 0.056 | 0.155 | 04/30/2025 |
| 4 | Sun Life Acadian International Equity Fund | 1,626,160 | 0 | 4,797,172 | 0.534 | 0.1458 | 12/31/2024 |
| 5 | iShares Global Infrastructure Index Fund | 836,759 | 122,106 | 2,468,439.05 | 0.4775 | 0.075 | 06/30/2025 |
| 6 | Lumyna - MW TOPS UCITS Fund | 553,161 | 553,161 | 1,631,824.95 | 0.0643 | 0.0496 | 03/31/2025 |
| 7 | Warburg Value Fund | 405,000 | 80,000 | 1,194,750 | 1.0797 | 0.0363 | 05/30/2025 |
| 8 | White Fleet II SICAV - SGVP Global Value Equity Fund | 400,000 | 25,000 | 1,180,000 | 1.1765 | 0.0359 | 03/31/2025 |
| 9 | Avantis Emerging Markets Value ETF | 335,835 | 330,633 | 990,713.25 | 0.1288 | 0.0301 | 06/30/2025 |
| 10 | iShares II Plc - Emerging Markets Infrastructure UCITS ETF | 266,656 | -41,579 | 786,635.2 | 2.9559 | 0.0239 | 06/30/2025 |
| 11 | HSBC ETFs Plc - MSCI Emerging Markets | 232,561 | -43,670 | 686,054.95 | 0.0231 | 0.0208 | 06/30/2025 |
| 12 | BlackRock ISF - iShares EM Screened Equity Index Fund (IE) | 183,240 | 3,712 | 540,558 | 0.0835 | 0.0164 | 06/30/2025 |
| 13 | Dimensional World ex-US Core Equity 2 ETF | 180,861 | 122,817 | 533,539.95 | 0.0059 | 0.0162 | 06/30/2025 |
| 14 | SPDR S&P Global Infrastructure ETF | 147,200 | -22,200 | 434,240 | 0.0789 | 0.0132 | 06/30/2025 |
| 15 | DFA International Core Equity Fund | 131,402 | 0 | 387,635.9 | 0.0136 | 0.0118 | 12/31/2024 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Polunin Capital Partners Ltd. | 9,457,242 | 9,457,242 | 27,898,863.9 | 2.6658 | 0.8479 | 06/30/2025 |
| 2 | Parametric Portfolio Associates LLC | 3,082,993 | 1,165,484 | 9,094,829.35 | 0.0027 | 0.2764 | 03/31/2025 |
| 3 | BofA Securities, Inc. | 552,576 | 552,450 | 1,630,099.2 | 0.003 | 0.0495 | 03/31/2025 |
| 4 | MultiConcept Fund Management SA | 400,000 | 400,000 | 1,180,000 | 0.0264 | 0.0359 | 03/31/2025 |
| 5 | UBS Switzerland AG (Investment Management) | 386,637 | 386,637 | 1,140,579.15 | 0.003 | 0.0347 | 03/31/2025 |
| 6 | Raiffeisen Kapitalanlage-Gesellschaft mbH | 267,314 | 267,314 | 788,576.3 | 0.0059 | 0.024 | 03/31/2025 |
| 7 | Citadel Advisors LLC | 434,507 | 221,022 | 1,281,795.65 | 0.0016 | 0.039 | 03/31/2025 |
| 8 | Aperio Group LLC | 1,466,261 | 151,540 | 4,325,469.95 | 0.0038 | 0.1315 | 03/31/2025 |
| 9 | American Century Investment Management, Inc. | 1,892,257 | 116,150 | 5,582,158.15 | 0.0024 | 0.1696 | 03/31/2025 |
| 10 | RBF Capital LLC | 98,800 | 98,800 | 291,460 | 0.0167 | 0.0089 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Morgan Stanley & Co. LLC | 1,326,290 | -2,065,972 | 3,912,555.5 | 0.0013 | 0.1189 | 03/31/2025 |
| 2 | Hennessy Advisors, Inc. (Investment Management) | 0 | -1,811,400 | 0 | 0 | 0 | |
| 3 | Acadian Asset Management LLC | 1,387,453 | -1,468,640 | 4,092,986.35 | 0.0086 | 0.1244 | 03/31/2025 |
| 4 | Renaissance Technologies LLC | 2,151,800 | -1,362,000 | 6,347,810 | 0.0084 | 0.1929 | 03/31/2025 |
| 5 | Goldman Sachs & Co. LLC (Private Banking) | 1,042,585 | -530,637 | 3,075,625.75 | 0.0016 | 0.0935 | 03/31/2025 |
| 6 | BlackRock Financial Management, Inc. | 420,599 | -495,229 | 1,240,767.05 | 0.0008 | 0.0377 | 03/31/2025 |
| 7 | BlackRock Fund Advisors | 3,439,104 | -473,569 | 10,145,356.8 | 0.0002 | 0.3083 | 03/31/2025 |
| 8 | Bank of America, NA (Private Banking) | 523,096 | -462,998 | 1,543,133.2 | 0.0005 | 0.0469 | 03/31/2025 |
| 9 | Cubist Systematic Strategies LLC | 337,312 | -397,637 | 995,070.4 | 0.0117 | 0.0302 | 03/31/2025 |
| 10 | BNP Paribas Financial Markets | 70,080 | -397,632 | 206,736 | 0.0001 | 0.0063 | 03/31/2025 |
Data provided by FactSet Research Systems Inc.