| VEA Vanguard Ftse Developed ETF | 14.41% | 782,800 | $41.3M | No change |
| VTI VG Morningstar TS MKT ETF-US | 10.85% | 110,000 | $31.1M | No change |
| VWO Vanguard Ftse Emerging Marke | 9.22% | 553,000 | $26.5M | No change |
| IAU iShares Gold Trust | 9.19% | 530,480 | $26.4M | Reduce -9.9% |
| VIG Vanguard Dividend Apprec ETF | 8.93% | 129,430 | $25.6M | No change |
| GUNR NT Mstar GLBL NR ETF | 7.59% | 528,203 | $21.8M | No change |
| EWZ iShares MSCI Brazil ETF | 6.18% | 600,900 | $17.7M | No change |
| EWC iShares MSCI Canada ETF | 5.09% | 351,800 | $14.6M | No change |
| ACWI iShares MSCI Acwi ETF | 3.59% | 86,200 | $10.3M | No change |
| EMLC Vaneck JPM Em Local Curr BND | 2.80% | 316,200 | $8.0M | No change |
| IEMG iShares Core MSCI Emerging | 2.54% | 126,800 | $7.3M | No change |
| GNR State Street SPDR S&P Global | 1.56% | 77,550 | $4.5M | No change |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 1.53% | 322,600 | $4.4M | No change |
| FCX Freeport-McMoran Inc. | 1.41% | 81,000 | $4.0M | Add +9.5% |
| VNQ Vanguard Real Estate ETF | 1.34% | 39,600 | $3.9M | Reduce -21.7% |
| AGNC AGNC Investment Corp. | 1.28% | 350,000 | $3.7M | No change |
| VALE Vale SA-SP ADR | 1.09% | 266,714 | $3.1M | Add +3.9% |
| MELI MercadoLibre Inc. | 1.07% | 1,494 | $3.1M | No change |
| EWU iShares MSCI United Kingdom | 0.99% | 75,900 | $2.8M | No change |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.90% | 386,597 | $2.6M | No change |
| KOF Coca-Cola Femsa Sab-SP ADR | 0.77% | 24,789 | $2.2M | No change |
| EFV iShares MSCI Eafe Value ETF | 0.72% | 35,700 | $2.1M | No change |
| PBR.A Petroleo Brasil-SP Pref ADR | 0.71% | 154,260 | $2.0M | No change |
| PBR Petroleo Brasileiro-Spon ADR | 0.67% | 132,846 | $1.9M | No change |
| EWJ iShares MSCI Japan ETF | 0.59% | 23,500 | $1.7M | No change |
| ABEV Ambev SA-ADR | 0.52% | 616,839 | $1.5M | No change |
| CNQ Canadian Natural Resources | 0.41% | 35,000 | $1.2M | New |
| BSBR Banco Santander Brasil-ADS | 0.29% | 157,930 | $831K | No change |
| VIV Telefonica Brasil-ADR | 0.26% | 72,375 | $743K | No change |
| AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR | 0.25% | 100,104 | $724K | No change |
| NLY Annaly Capital Management Inc. | 0.24% | 35,000 | $702K | No change |
| XLE SS Energy Select Sector | 0.24% | 8,000 | $702K | No change |
| XP XP Inc. Class A | 0.23% | 37,068 | $665K | No change |
| VDE Vanguard Energy ETF | 0.23% | 5,300 | $649K | No change |
| SUZ Suzano SA - Spon ADR | 0.20% | 58,835 | $588K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.20% | 3,350 | $585K | No change |
| BBD Banco Bradesco-ADR | 0.17% | 187,900 | $500K | No change |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 0.17% | 28,680 | $474K | No change |
| EMB iShares JP Morgan Usd Emergi | 0.14% | 4,300 | $402K | No change |
| CVX Chevron Corp. | 0.14% | 2,700 | $398K | New |
| XOM Exxon Mobil Corp. | 0.13% | 3,300 | $387K | New |
| TIMB Tim SA-ADR | 0.12% | 20,350 | $350K | No change |
| CIG Cia Energetica DE-Spon ADR | 0.11% | 147,547 | $304K | No change |
| GGB Gerdau SA -Spon ADR | 0.11% | 86,242 | $302K | No change |
| COP Conocophillips | 0.10% | 2,700 | $284K | New |
| SCHP Schwab U.S. Tips ETF | 0.09% | 5,000 | $268K | No change |
| BHP BHP Group Ltd.-Spon ADR | 0.09% | 4,000 | $248K | New |
| STNE Stoneco Ltd. Class A | 0.09% | 22,040 | $248K | Add +18.9% |
| EWM iShares MSCI Malaysia ETF | 0.07% | 7,500 | $203K | No change |
| BRFS BRF SA-ADR | 0.07% | 46,008 | $201K | No change |
| CSANY Cosan SA -ADR | 0.06% | 19,080 | $182K | No change |
| UGP Ultrapar Particpac-Spon ADR | 0.06% | 46,700 | $181K | No change |
| VNQI Vanguard GLBL Ex-US Real Est | 0.06% | 3,600 | $169K | No change |
| RIO Rio Tinto PLC-Spon ADR | 0.05% | 2,000 | $142K | New |
| SID Cia Siderurgica Nacl-SP ADR filed as COMPANHIA SIDERURGICA NACION | 0.05% | 55,740 | $133K | No change |
| BAK Braskem SA Class A- ADR | 0.04% | 17,230 | $126K | No change |