Holdings of the Fund as of 7/10/2025
Total Number of Holdings (excluding cash): 49
| Porto Seguro S.A. |
PSSA3.BZ |
P7905C107 |
Financials |
30,779 |
$294,645.08 |
4.24% |
| Marfrig Global Foods S.A. |
MRFG3.BZ |
P64386116 |
Consumer Staples |
66,057 |
$286,027.33 |
4.11% |
| Embraer SA |
EMBR3.BZ |
P3700H201 |
Industrials |
20,021 |
$272,065.54 |
3.91% |
| Companhia de Saneamento do Parana (Unit) |
SAPR11.BZ |
P3R668101 |
Utilities |
40,481 |
$263,143.68 |
3.78% |
| Companhia de Saneamento de Minas Gerais (Copasa MG) |
CSMG3.BZ |
P28269101 |
Utilities |
54,033 |
$261,746.47 |
3.76% |
| Vibra Energia SA |
VBBR3.BZ |
P9785J111 |
Consumer Discretionary |
63,058 |
$251,312.08 |
3.61% |
| TIM S.A. |
TIMS3.BZ |
P9153B104 |
Communication Services |
62,100 |
$241,219.87 |
3.47% |
| StoneCo Ltd. (Class A) |
STNE |
G85158106 |
Financials |
13,709 |
$219,618.18 |
3.16% |
| PagSeguro Digital Ltd. (Class A) |
PAGS |
G68707101 |
Financials |
23,271 |
$210,602.55 |
3.03% |
| JBS NV (Class A) (BDR) |
JBSS32.BZ |
|
Consumer Staples |
15,495 |
$206,228.57 |
2.96% |
| Vale S.A. |
VALE3.BZ |
P9661Q155 |
Materials |
20,622 |
$205,672.54 |
2.96% |
| Cia. de Saneamento Basico do Estado de Sao Paulo - SABESP |
SBSP3.BZ |
P2R268136 |
Utilities |
10,169 |
$205,500.33 |
2.95% |
| Energisa SA (Units) |
ENGI11.BZ |
P3769S114 |
Utilities |
24,670 |
$205,274.94 |
2.95% |
| Gerdau S.A. (Preferred Shares) |
GGBR4.BZ |
P2867P113 |
Materials |
62,015 |
$188,862.88 |
2.72% |
| BRF S.A. |
BRFS3.BZ |
P1905C100 |
Consumer Staples |
44,359 |
$184,071.71 |
2.65% |
| Telefonica Brasil S.A. |
VIVT3.BZ |
P9T369176 |
Communication Services |
28,864 |
$166,641.80 |
2.40% |
| Rede D'Or Sao Luiz S.A. |
RDOR3.BZ |
P79942101 |
Health Care |
26,553 |
$161,970.62 |
2.33% |
| Isa Energia Brasil SA (Preference) |
ISAE4.BZ |
P30576113 |
Utilities |
39,112 |
$161,028.65 |
2.31% |
| Companhia Energetica de Minas Gerais-CEMIG (Preference) |
CMIG4.BZ |
P2577R110 |
Utilities |
81,005 |
$157,692.38 |
2.27% |
| Metalurgica Gerdau SA (Preference) |
GOAU4.BZ |
P4834C118 |
Materials |
87,802 |
$149,855.58 |
2.15% |
| Itausa S.A. (Preference Shares) |
ITSA4.BZ |
P5887P427 |
Financials |
76,777 |
$146,137.30 |
2.10% |
| Petroleo Brasileiro S.A. (Petrobras) (Preference Shares) |
PETR4.BZ |
P78331140 |
Energy |
24,868 |
$144,648.31 |
2.08% |
| Centrais Eletricas Brasileiras S.A. (Electrobras) |
ELET3.BZ |
P22854122 |
Utilities |
19,777 |
$140,654.77 |
2.02% |
| Ultrapar Participacoes S.A. |
UGPA3.BZ |
P94396127 |
Energy |
42,505 |
$134,277.60 |
1.93% |
| Suzano SA |
SUZB3.BZ |
P8T20U187 |
Materials |
14,567 |
$131,012.49 |
1.88% |
| Lojas Renner S.A. |
LREN3.BZ |
P6332C102 |
Consumer Discretionary |
37,127 |
$128,340.23 |
1.85% |
| Transmissora Alianca de Energia Electrica S.A. (Unit) |
TAEE11.BZ |
P9T5CD126 |
Utilities |
20,541 |
$126,595.11 |
1.82% |
| WEG S.A. |
WEGE3.BZ |
P9832B129 |
Industrials |
17,054 |
$122,765.58 |
1.76% |
| Hypera S.A. |
HYPE3.BZ |
P5230A101 |
Health Care |
24,875 |
$121,576.46 |
1.75% |
| BB Seguridade Participacoes S.A. |
BBSE3.BZ |
P1R1WJ103 |
Financials |
18,656 |
$118,814.84 |
1.71% |
| Companhia Paranaense de Energia-Copel (Preference B) |
CPLE6.BZ |
P30557139 |
Utilities |
49,178 |
$105,760.78 |
1.52% |
| Itau Unibanco Holding S.A. (Preference Shares) |
ITUB4.BZ |
P5968U113 |
Financials |
16,107 |
$102,435.67 |
1.47% |
| Ambipar Participacoes e Empreendimentos S/A |
AMBP3.BZ |
P0R77M103 |
Industrials |
3,461 |
$100,126.27 |
1.44% |
| Klabin SA (Unit) |
KLBN11.BZ |
P60933135 |
Materials |
29,094 |
$98,314.75 |
1.41% |
| Cosan SA |
CSAN3.BZ |
P31573101 |
Energy |
82,717 |
$95,659.97 |
1.38% |
| Petro Rio S.A. |
PRIO3.BZ |
P7S19Q109 |
Energy |
11,208 |
$84,524.35 |
1.22% |
| SLC Agricola SA |
SLCE3.BZ |
P8711D107 |
Consumer Staples |
25,713 |
$84,198.99 |
1.21% |
| Banco do Brasil S.A. |
BBAS3.BZ |
P11427112 |
Financials |
18,617 |
$71,240.64 |
1.02% |
| TOTVS S.A. |
TOTS3.BZ |
P92184103 |
Information Technology |
8,411 |
$63,127.48 |
0.91% |
| Brava Energia |
BRAV3.BZ |
P0001U147 |
Energy |
19,132 |
$61,268.35 |
0.88% |
| Raizen SA (Preference) |
RAIZ4.BZ |
P79857101 |
Consumer Discretionary |
208,325 |
$59,384.90 |
0.85% |
| Banco Bradesco S.A. (Preference Shares) |
BBDC4.BZ |
P1808G117 |
Financials |
19,463 |
$56,674.90 |
0.81% |
| Smartfit Escola de Ginastica e Danca S.A. |
SMFT3.BZ |
P8T12R101 |
Consumer Discretionary |
13,266 |
$54,402.25 |
0.78% |
| Motiva Infraestrutura de Mobilidade SA |
MOTV3.BZ |
P2170M104 |
Industrials |
22,123 |
$52,686.03 |
0.76% |
| Equatorial Energia SA |
EQTL3.BZ |
P3773H104 |
Utilities |
8,211 |
$51,019.54 |
0.73% |
| Allos S.A. |
ALOS3.BZ |
P0R6A1107 |
Real Estate |
12,424 |
$48,976.78 |
0.70% |
| Banco Santander (Brasil) S.A. (Unit) |
SANB11.BZ |
P1505Z160 |
Financials |
9,445 |
$47,644.91 |
0.68% |
| GPS Participacoes e Empreendimentos S.A. |
GGPS3.BZ |
P4R4AT137 |
Industrials |
16,094 |
$46,661.36 |
0.67% |
| Brazilian Real |
$BRL |
|
Other |
160,886 |
$29,058.05 |
0.42% |
| Raia Drogasil S.A. |
RADL3.BZ |
P7942C102 |
Consumer Staples |
10,227 |
$25,721.05 |
0.37% |
| US Dollar |
$USD |
|
Other |
9,199 |
$9,199.13 |
0.13% |
Holdings are subject to change.
The holdings information set forth above for the date indicated reflects creation and redemption transactions from the prior business day and may differ from the holdings information currently available from the Fund's custodian and accounting agent. With respect to the market value of the Fund's holdings set forth above, the pricing sources are generally third party vendors. The Fund ultimately relies on pricing information provided by the Fund's accounting agent.
|
|