Q3 2025 Holdings
Filed 2025-11-12 | 167 holdings | $1.2B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Vale SA SP ADR(VALE) | SPONSORED ADS | 91912E105 | $120.2M | 11,068,403 | 10.0% |
| Petroleo Brasileiro ADR(PBR) | SPONSORED ADR | 71654V408 | $100.2M | 7,916,982 | 8.3% |
| Ishares Msci Emerging Markets ETF(EEM) | MSCI EMG MKT ETF | 464287234 | $79.0M | 1,480,000 | 6.6% |
| Ishares Msci Brazil ETF(EWZ) | MSCI BRAZIL ETF | 464286400 | $49.6M | 1,600,000 | 4.1% |
| Copa Holdings SA(CPA) | CL A | P31076105 | $48.3M | 406,642 | 4.0% |
| Vinci Compass Investments LTD(VINP) | COM CL A | G9451V109 | $43.4M | 4,038,396 | 3.6% |
| Arcos Dorados Holdings Inc(ARCO) | SHS CLASS -A - | G0457F107 | $42.8M | 6,342,621 | 3.6% |
| RIO Tinto PLC(RIO) | SPONSORED ADR | 767204100 | $42.7M | 646,866 | 3.5% |
| Latam Airlines Group(LTM) | SPONSORED ADR | 51817R205 | $42.3M | 935,321 | 3.5% |
| Vistra Corp(VST) | COM | 92840M102 | $41.6M | 212,500 | 3.5% |
| XP Inc(XP) | CL A | G98239109 | $37.6M | 2,000,292 | 3.1% |
| Credicorp(BAP) | COM | G2519Y108 | $34.2M | 128,592 | 2.8% |
| Aura Minerals Inc(AUGO) | SHS NEW | G06973112 | $30.0M | 805,922 | 2.5% |
| Talen Energy Corp(TLN) | COM | 87422Q109 | $28.3M | 66,630 | 2.4% |
| First Solar Inc(FSLR) | COM | 336433107 | $25.6M | 116,250 | 2.1% |
| BP PLC(BP) | SPONSORED ADR | 055622104 | $24.2M | 703,309 | 2.0% |
| Petroleo Brasileiro SA Petro(PJX) | SP ADR NON VTG | 71654V101 | $20.6M | 1,742,229 | 1.7% |
| Banco Bradesco(BBD) | SP ADR PFD NEW | 059460303 | $19.7M | 5,842,473 | 1.6% |
| Inter & Co Inc(INTR) | CLASS A COM | G4R20B107 | $18.9M | 2,050,930 | 1.6% |
| GE Vernova LLC(GEV) | COM | 36828A101 | $17.6M | 28,700 | 1.5% |
| Nvidia Corp(NVDA) | COM | 67066G104 | $16.6M | 88,996 | 1.4% |
| Embraer SA(EMBJ) | SPONSORED ADR | 29082A107 | $14.0M | 231,172 | 1.2% |
| Gerdau SA(GGB) | SPON ADR REP PFD | 373737105 | $13.9M | 4,491,042 | 1.2% |
| Itau Unibanco Holding SA(BVXB) | SPON ADR REP PFD | 465562106 | $12.3M | 1,674,082 | 1.0% |
| Transport Gas SUR B ADR(TGS) | SPONSORED ADS B | 893870204 | $12.2M | 578,365 | 1.0% |
| NU Holdings LTD AN ISL(NU) | ORD SHS CL A | G6683N103 | $10.5M | 654,165 | 0.9% |
| Microsoft Corporation(MSFT) | COM | 594918104 | $10.4M | 20,000 | 0.9% |
| Sharkninja Inc(SN) | COM SHS | G8068L108 | $9.4M | 90,670 | 0.8% |
| Stoneco LTD(STNE) | COM CL A | G85158106 | $8.6M | 453,462 | 0.7% |
| Companhia Paranaense de Energi(ELP1) | SPON ADS | 20441B605 | $8.3M | 849,336 | 0.7% |
| Meta Platforms Inc(META) | CL A | 30303M102 | $8.1M | 11,030 | 0.7% |
| Hdfc BK LTD(HDB) | SPONSORED ADS | 40415F101 | $7.6M | 222,000 | 0.6% |
| Comphania de Bebidas DAS Americas Ambev(ABEV) | SPONSORED ADR | 02319V103 | $7.2M | 3,242,594 | 0.6% |
| Amazon.com Inc(AMZN) | COM | 023135106 | $7.2M | 32,880 | 0.6% |
| Broadcom Inc(AVGO) | COM | 11135F101 | $6.9M | 21,000 | 0.6% |
| Core Natural Resources Inc(CNR) | COM SHS | 218937100 | $6.8M | 82,000 | 0.6% |
| SEA LTD(SE) | SPONSORD ADS | 81141R100 | $6.8M | 38,000 | 0.6% |
| Blue OWL Capital Inc(OWL) | COM CL A | 09581B103 | $6.5M | 381,360 | 0.5% |
| Alibaba Group Holding LTD(BABA) | SPONSORED ADS | 01609W102 | $6.0M | 33,500 | 0.5% |
| Corpay Inc(CPAY) | COM SHS | 219948106 | $5.7M | 19,960 | 0.5% |
| Futu Holdings LTD(FUTU) | SPON ADS CL A | 36118L106 | $5.4M | 31,000 | 0.4% |
| Basic Sanitation Company of the State of(SAJA) | SPONSORED ADR | 20441A102 | $5.2M | 210,516 | 0.4% |
| Credo Technology Group Holdi(CRDO) | ORDINARY SHARES | G25457105 | $5.0M | 34,000 | 0.4% |
| Coherent Corp(COHR) | COM | 19247G107 | $4.8M | 45,000 | 0.4% |
| Centrais Eletricas BR(AXIA) | SPONSORED ADR | 15234Q207 | $4.7M | 473,209 | 0.4% |
| Iren LTD(IREN) | ORDINARY SHARES | Q4982L109 | $3.4M | 72,600 | 0.3% |
| Micron Technology Inc(MU) | COM | 595112103 | $3.3M | 20,000 | 0.3% |
| Centrus Energy Corp(LEU) | CL A | 15643U104 | $3.3M | 10,600 | 0.3% |
| Luxexperience BV(LUXE) | ADS | 55406W103 | $3.2M | 373,910 | 0.3% |
| Cantaloupe Inc(CTLP) | COM | 138103106 | $3.2M | 298,600 | 0.3% |