| VEA Vanguard Ftse Developed ETF | 15.48% | 1,112,000 | $55.8M | Reduce -13.1% |
| VWO Vanguard Ftse Emerging Marke | 15.33% | 1,322,600 | $55.2M | Reduce -8.7% |
| VTI VG Morningstar TS MKT ETF-US | 14.76% | 204,600 | $53.2M | Reduce -4.1% |
| VIG Vanguard Dividend Apprec ETF | 9.01% | 177,730 | $32.5M | Reduce -30.9% |
| IAU iShares Gold Trust | 7.10% | 608,780 | $25.6M | No change |
| GUNR NT Mstar GLBL NR ETF | 6.02% | 528,203 | $21.7M | Add +5.2% |
| EWZ iShares MSCI Brazil ETF | 5.46% | 606,500 | $19.7M | No change |
| EWC iShares MSCI Canada ETF | 3.74% | 351,800 | $13.5M | Reduce -16.1% |
| ACWI iShares MSCI Acwi ETF | 2.63% | 86,200 | $9.5M | Reduce -20.3% |
| EMLC Vaneck JPM Em Local Curr BND | 2.15% | 316,200 | $7.8M | No change |
| IEMG iShares Core MSCI Emerging | 1.82% | 126,800 | $6.5M | No change |
| VNQ Vanguard Real Estate ETF | 1.30% | 54,200 | $4.7M | No change |
| GNR State Street SPDR S&P Global | 1.25% | 77,550 | $4.5M | No change |
| FCX Freeport-McMoran Inc. | 1.23% | 94,000 | $4.4M | Add +16.8% |
| AGNC AGNC Investment Corp. | 0.96% | 350,000 | $3.5M | No change |
| EWU iShares MSCI United Kingdom | 0.94% | 98,900 | $3.4M | Reduce -48.3% |
| VALE Vale SA-SP ADR | 0.87% | 256,714 | $3.1M | No change |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.86% | 260,100 | $3.1M | New |
| AAPL Apple Inc. | 0.86% | 18,000 | $3.1M | New |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.74% | 386,597 | $2.7M | No change |
| PBR.A Petroleo Brasil-SP Pref ADR | 0.64% | 154,260 | $2.3M | No change |
| DJP Ipath Bloomberg Commodity Inc. filed as BARCLAYS BANK PLC | 0.59% | 67,800 | $2.1M | No change |
| PBR Petroleo Brasileiro-Spon ADR | 0.56% | 132,846 | $2.0M | No change |
| EFV iShares MSCI Eafe Value ETF | 0.54% | 35,700 | $1.9M | No change |
| EWJ iShares MSCI Japan ETF | 0.47% | 23,500 | $1.7M | Add +17.5% |
| ABEV Ambev SA-ADR | 0.42% | 616,839 | $1.5M | No change |
| KOF Coca-Cola Femsa Sab-SP ADR | 0.40% | 14,789 | $1.4M | No change |
| BBD Banco Bradesco-ADR | 0.34% | 434,650 | $1.2M | No change |
| MELI MercadoLibre Inc. | 0.33% | 794 | $1.2M | No change |
| XP XP Inc. Class A | 0.26% | 37,068 | $951K | No change |
| BSBR Banco Santander Brasil-ADS | 0.25% | 157,930 | $903K | No change |
| AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR | 0.23% | 100,104 | $836K | No change |
| SCHH Schwab US REIT ETF | 0.22% | 39,400 | $800K | No change |
| XLE SS Energy Select Sector | 0.21% | 8,000 | $755K | No change |
| SUZ Suzano SA - Spon ADR | 0.21% | 58,835 | $752K | No change |
| VIV Telefonica Brasil-ADR | 0.20% | 72,375 | $729K | No change |
| VDE Vanguard Energy ETF | 0.19% | 5,300 | $698K | No change |
| NLY Annaly Capital Management Inc. | 0.19% | 35,000 | $689K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.15% | 3,350 | $546K | No change |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 0.13% | 28,680 | $483K | No change |
| EMB iShares JP Morgan Usd Emergi | 0.11% | 4,300 | $386K | No change |
| TIMB Tim SA-ADR | 0.10% | 20,350 | $361K | No change |
| GGB Gerdau SA -Spon ADR | 0.09% | 71,869 | $318K | No change |
| STNE Stoneco Ltd. Class A | 0.09% | 18,540 | $308K | No change |
| CIG Cia Energetica DE-Spon ADR | 0.08% | 113,498 | $280K | No change |
| UGP Ultrapar Particpac-Spon ADR | 0.07% | 46,700 | $267K | No change |
| SCHP Schwab U.S. Tips ETF | 0.07% | 5,000 | $261K | No change |
| CSANY Cosan SA -ADR | 0.07% | 19,080 | $247K | No change |
| NTCOY Natura &co Holding-ADR | 0.06% | 28,990 | $208K | No change |
| BAK Braskem SA Class A- ADR | 0.05% | 17,230 | $181K | No change |
| SID Cia Siderurgica Nacl-SP ADR filed as COMPANHIA SIDERURGICA NACION | 0.05% | 55,740 | $174K | No change |
| EWM iShares MSCI Malaysia ETF | 0.05% | 7,500 | $163K | No change |
| VNQI Vanguard GLBL Ex-US Real Est | 0.04% | 3,600 | $152K | No change |
| BRFS BRF SA-ADR | 0.04% | 46,008 | $150K | No change |