| VEA Vanguard Ftse Developed ETF | 14.46% | 782,800 | $38.7M | Reduce -29.6% |
| VTI VG Morningstar TS MKT ETF-US | 11.00% | 110,000 | $29.4M | Reduce -46.2% |
| IAU iShares Gold Trust | 9.66% | 588,480 | $25.9M | Reduce -3.3% |
| VWO Vanguard Ftse Emerging Marke | 9.04% | 553,000 | $24.2M | Reduce -58.2% |
| VIG Vanguard Dividend Apprec ETF | 8.83% | 129,430 | $23.6M | Reduce -27.2% |
| GUNR NT Mstar GLBL NR ETF | 7.92% | 528,203 | $21.2M | No change |
| EWZ iShares MSCI Brazil ETF | 6.14% | 600,900 | $16.4M | Reduce -0.9% |
| EWC iShares MSCI Canada ETF | 4.88% | 351,800 | $13.0M | No change |
| ACWI iShares MSCI Acwi ETF | 3.62% | 86,200 | $9.7M | No change |
| EMLC Vaneck JPM Em Local Curr BND | 2.81% | 316,200 | $7.5M | No change |
| IEMG iShares Core MSCI Emerging | 2.54% | 126,800 | $6.8M | No change |
| GNR State Street SPDR S&P Global | 1.62% | 77,550 | $4.3M | No change |
| VNQ Vanguard Real Estate ETF | 1.58% | 50,600 | $4.2M | Reduce -6.6% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 1.55% | 322,600 | $4.2M | Add +24.0% |
| FCX Freeport-McMoran Inc. | 1.34% | 74,000 | $3.6M | Reduce -21.3% |
| AGNC AGNC Investment Corp. | 1.25% | 350,000 | $3.3M | No change |
| VALE Vale SA-SP ADR | 1.07% | 256,714 | $2.9M | No change |
| EWU iShares MSCI United Kingdom | 0.99% | 75,900 | $2.6M | Reduce -23.3% |
| MELI MercadoLibre Inc. | 0.92% | 1,494 | $2.5M | Add +88.2% |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.84% | 386,597 | $2.3M | No change |
| KOF Coca-Cola Femsa Sab-SP ADR | 0.80% | 24,789 | $2.1M | Add +67.6% |
| PBR.A Petroleo Brasil-SP Pref ADR | 0.79% | 154,260 | $2.1M | No change |
| PBR Petroleo Brasileiro-Spon ADR | 0.72% | 132,846 | $1.9M | No change |
| EFV iShares MSCI Eafe Value ETF | 0.71% | 35,700 | $1.9M | No change |
| EWJ iShares MSCI Japan ETF | 0.60% | 23,500 | $1.6M | No change |
| ABEV Ambev SA-ADR | 0.47% | 616,839 | $1.3M | No change |
| SCHH Schwab US REIT ETF | 0.29% | 39,400 | $787K | No change |
| BSBR Banco Santander Brasil-ADS | 0.29% | 157,930 | $780K | No change |
| XLE SS Energy Select Sector | 0.27% | 8,000 | $729K | No change |
| VDE Vanguard Energy ETF | 0.25% | 5,300 | $676K | No change |
| NLY Annaly Capital Management Inc. | 0.25% | 35,000 | $667K | No change |
| XP XP Inc. Class A | 0.24% | 37,068 | $652K | No change |
| AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR | 0.24% | 100,104 | $644K | No change |
| SUZ Suzano SA - Spon ADR | 0.23% | 58,835 | $604K | No change |
| VIV Telefonica Brasil-ADR | 0.22% | 72,375 | $594K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.20% | 3,350 | $537K | No change |
| BBD Banco Bradesco-ADR | 0.16% | 187,900 | $421K | Reduce -56.8% |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 0.14% | 28,680 | $386K | No change |
| EMB iShares JP Morgan Usd Emergi | 0.14% | 4,300 | $380K | No change |
| TIMB Tim SA-ADR | 0.11% | 20,350 | $291K | No change |
| GGB Gerdau SA -Spon ADR | 0.11% | 86,242 | $285K | Add +20.0% |
| SCHP Schwab U.S. Tips ETF | 0.10% | 5,000 | $260K | No change |
| CIG Cia Energetica DE-Spon ADR | 0.10% | 147,547 | $260K | Add +30.0% |
| STNE Stoneco Ltd. Class A | 0.08% | 18,540 | $222K | No change |
| BRFS BRF SA-ADR | 0.07% | 46,008 | $187K | No change |
| CSANY Cosan SA -ADR | 0.07% | 19,080 | $186K | No change |
| UGP Ultrapar Particpac-Spon ADR | 0.07% | 46,700 | $183K | No change |
| EWM iShares MSCI Malaysia ETF | 0.06% | 7,500 | $168K | No change |
| VNQI Vanguard GLBL Ex-US Real Est | 0.05% | 3,600 | $146K | No change |
| SID Cia Siderurgica Nacl-SP ADR filed as COMPANHIA SIDERURGICA NACION | 0.05% | 55,740 | $128K | No change |
| BAK Braskem SA Class A- ADR | 0.04% | 17,230 | $111K | No change |