| 1 | DE DUERO FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES | 72,500,000 | 4.3B R$ | 95.10 % | as of Apr 30, 2026 · Original filing |
| 2 | TEMPRANILLO FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES | 58,461,992 | 3.5B R$ | 40.37 % | as of Apr 30, 2026 · Original filing |
| 3 | GQG Partners Emerging Markets Equity Fund ADVISORS' INNER CIRCLE III | 41,286,348 | 447.3M $ | 2.07 % | as of Mar 31, 2026 · Original filing |
| 4 | Goldman Sachs GQG Partners International Opportunities Fund Goldman Sachs Trust II | 33,079,111 | 396.4M $ | 0.70 % | as of Apr 30, 2026 · Original filing |
| 5 | iShares MSCI Brazil ETF iShares, Inc. | 22,381,510 | 267.5M $ | 2.77 % | as of Feb 28, 2026 · Original filing |
| 6 | New World Fund Inc New World Fund Inc | 18,185,036 | 217.9M $ | 0.26 % | as of Apr 30, 2026 · Original filing |
| 7 | VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND VANGUARD STAR FUNDS | 17,951,340 | 215.1M $ | 0.03 % | as of Apr 30, 2026 · Original filing |
| 8 | VANGUARD EMERGING MARKETS STOCK INDEX FUND VANGUARD INTERNATIONAL EQUITY INDEX FUNDS | 16,992,146 | 203.6M $ | 0.13 % | as of Apr 30, 2026 · Original filing |
| 9 | Strategic Advisers Fidelity Emerging Markets Fund Fidelity Rutland Square Trust II | 13,796,748 | 164.9M $ | 0.47 % | as of Feb 28, 2026 · Original filing |
| 10 | MFS International Growth Fund MFS SERIES TRUST X | 12,432,178 | 148.6M $ | 0.62 % | as of Feb 28, 2026 · Original filing |
| 11 | Global Emerging Markets Fund Principal Funds, Inc | 12,172,250 | 146.1M $ | 1.88 % | as of Apr 30, 2026 · Original filing |
| 12 | GUARANY FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES | 10,395,128 | 616.8M R$ | 90.47 % | as of Apr 30, 2026 · Original filing |
| 13 | JPMorgan Emerging Markets Equity Fund JPMorgan Trust I | 9,247,698 | 111M $ | 1.01 % | as of Apr 30, 2026 · Original filing |
| 14 | GLADIUS FIF MULTIMERCADO CRÉDITO PRIVADO INVESTIMENTO NO EXTERIOR | 7,498,747 | 445.1M R$ | 3.43 % | as of Apr 30, 2026 · Original filing |
| 15 | Fidelity Emerging Markets Fund Fidelity Investment Trust | 7,365,000 | 88.3M $ | 0.82 % | as of Apr 30, 2026 · Original filing |
| 16 | College Retirement Equities Fund - Total Global Stock Account College Retirement Equities Fund | 6,588,636 | 71.6M $ | 0.06 % | as of Mar 31, 2026 · Original filing |
| 17 | CLIQUE MASTER AÇÕES FUNDO DE INVESTIMENTO FINANCEIRO - MULTIMERCADO RESPONSABILIDADE LIMITADA | 5,414,156 | 321.3M R$ | 22.13 % | as of Apr 30, 2026 · Original filing |
| 18 | FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES MISTYQUE | 4,941,299 | 293.2M R$ | 16.96 % | as of Apr 30, 2026 · Original filing |
| 19 | POSITIVO IV FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES RESPONSABILIDADE LIMITDA | 4,865,668 | 288.7M R$ | 37.62 % | as of Apr 30, 2026 · Original filing |
| 20 | CLASSE ÚNICA DO TROJANS 95 FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO CRÉDITO PRIVADO | 4,865,668 | 288.7M R$ | 37.62 % | as of Apr 30, 2026 · Original filing |
| 21 | Hartford Schroders Emerging Markets Equity Fund HARTFORD MUTUAL FUNDS II, INC | 4,815,016 | 57.7M $ | 0.76 % | as of Apr 30, 2026 · Original filing |
| 22 | EVOLUTION FUNDO DE INVESTIMENTO EM AÇÕES | 4,711,041 | 279.6M R$ | 60.87 % | as of Apr 30, 2026 · Original filing |
| 23 | International Dynamic Growth Fund John Hancock Investment Trust | 4,574,900 | 54.8M $ | 1.19 % | as of Apr 30, 2026 · Original filing |
| 24 | Strategic Advisers Emerging Markets Fund Fidelity Rutland Square Trust II | 4,518,435 | 54M $ | 0.36 % | as of Feb 28, 2026 · Original filing |
| 25 | CAPSTONE MACRO MASTER FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO | 4,019,927 | 238.5M R$ | 2.02 % | as of Apr 30, 2026 · Original filing |
| 26 | Baron Emerging Markets Fund BARON SELECT FUNDS | 3,893,296 | 42.3M $ | 1.23 % | as of Mar 31, 2026 · Original filing |
| 27 | LAB FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES | 3,800,000 | 225.5M R$ | 13.22 % | as of Apr 30, 2026 · Original filing |
| 28 | JOHCM Emerging Markets Opportunities Fund Perpetual Americas Funds Trust | 3,730,653 | 40.5M $ | 2.83 % | as of Mar 31, 2026 · Original filing |
| 29 | EUPAC Fund EUPAC Fund | 3,388,258 | 36.8M $ | 0.03 % | as of Mar 31, 2026 · Original filing |
| 30 | Fidelity Series Emerging Markets Fund Fidelity Investment Trust | 3,377,768 | 40.5M $ | 0.52 % | as of Apr 30, 2026 · Original filing |
| 31 | NIMROD FIF MULTIMERCADO CRÉDITO PRIVADO INVESTIMENTO NO EXTERIOR | 3,360,497 | 199.4M R$ | 0.57 % | as of Apr 30, 2026 · Original filing |
| 32 | BOA VISTA FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES | 2,931,748 | 174M R$ | 56.70 % | as of Apr 30, 2026 · Original filing |
| 33 | VANGUARD FTSE ALL-WORLD EX-US INDEX FUND VANGUARD INTERNATIONAL EQUITY INDEX FUNDS | 2,829,475 | 33.9M $ | 0.04 % | as of Apr 30, 2026 · Original filing |
| 34 | AP7 Aktiefond Sjunde AP-fonden | 2,823,230 | 289.9M SEK | 0.02 % | as of Mar 31, 2026 · Original filing |
| 35 | Bridge Builder International Equity Fund Bridge Builder Trust | 2,615,067 | 28.4M $ | 0.12 % | as of Mar 31, 2026 · Original filing |
| 36 | Emerging Markets Equity Fund John Hancock Investment Trust | 2,559,200 | 30.7M $ | 2.08 % | as of Apr 30, 2026 · Original filing |
| 37 | SPX HORNET EQUITY HEDGE MASTER FIF MULTIMERCADO RESPONSABILIDADE LIMITADA | 2,544,654 | 151M R$ | 5.63 % | as of Apr 30, 2026 · Original filing |
| 38 | Fidelity Series Global ex U.S. Index Fund Fidelity Salem Street Trust | 2,270,900 | 27.2M $ | 0.04 % | as of Apr 30, 2026 · Original filing |
| 39 | Nuveen Emerging Markets Equity Fund TIAA-CREF Funds | 2,154,700 | 25.8M $ | 1.38 % | as of Apr 30, 2026 · Original filing |
| 40 | IBIUNA LONG SHORT ST MASTER FIF - CLASSE DE INVESTIMENTO MULTIMERCADO - RESP LIMITADA | 2,065,763 | 122.6M R$ | 6.28 % | as of Apr 30, 2026 · Original filing |
| 41 | State Street(R) SPDR(R) Portfolio Emerging Markets ETF SPDR INDEX SHARES FUNDS | 1,636,381 | 17.6M $ | 0.11 % | as of Mar 31, 2026 · Original filing |
| 42 | T. Rowe Price Latin America Fund T. ROWE PRICE INTERNATIONAL FUNDS, INC. | 1,602,982 | 19.2M $ | 3.67 % | as of Apr 30, 2026 · Original filing |
| 43 | AB Emerging Markets Opportunities ETF AB Active ETFs, Inc. | 1,567,056 | 16.9M $ | 1.24 % | as of Mar 31, 2026 · Original filing |
| 44 | Schwab Emerging Markets Equity ETF SCHWAB STRATEGIC TRUST | 1,437,603 | 17.2M $ | 0.14 % | as of Feb 28, 2026 · Original filing |
| 45 | OITI FIF MULTIMERCADO CRÉDITO PRIVADO INVESTIMENTO NO EXTERIOR RESPONSABILIDADE LIMITADA | 1,436,484 | 85.2M R$ | 0.25 % | as of Apr 30, 2026 · Original filing |
| 46 | UBS PRÓPRIO FUNDO DE INVESTIMENTO FINANCEIRO - MULTIMERCADO CRÉDITO PRIVADO | 1,436,162 | 85.2M R$ | 2.83 % | as of Apr 30, 2026 · Original filing |
| 47 | Fidelity Emerging Markets Index Fund Fidelity Salem Street Trust | 1,435,500 | 17.2M $ | 0.12 % | as of Apr 30, 2026 · Original filing |
| 48 | JNL/GQG Emerging Markets Equity Fund JNL Series Trust | 1,404,567 | 15.3M $ | 2.08 % | as of Mar 31, 2026 · Original filing |
| 49 | Goldman Sachs Emerging Markets Equity Fund Goldman Sachs Trust | 1,338,500 | 16M $ | 0.49 % | as of Apr 30, 2026 · Original filing |
| 50 | KAPITALO ZETA MERIDIA MASTER FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO | 1,321,290 | 78.4M R$ | 1.70 % | as of Apr 30, 2026 · Original filing |
| 51 | VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND VANGUARD WHITEHALL FUNDS | 1,317,600 | 15.8M $ | 0.08 % | as of Apr 30, 2026 · Original filing |
| 52 | PGIM Jennison Emerging Markets Equity Opportunities Fund Prudential World Fund, Inc. | 1,292,849 | 15.5M $ | 1.90 % | as of Apr 30, 2026 · Original filing |
| 53 | CALA BENIDAA FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES | 1,273,211 | 75.6M R$ | 65.08 % | as of Apr 30, 2026 · Original filing |
| 54 | Emerging Markets Fund American Century World Mutual Funds, Inc. | 1,257,000 | 15.1M $ | 0.80 % | as of Feb 28, 2026 · Original filing |
| 55 | William Blair Emerging Markets Growth Fund WILLIAM BLAIR FUNDS | 1,225,100 | 13.3M $ | 1.33 % | as of Mar 31, 2026 · Original filing |
| 56 | Franklin FTSE Brazil ETF Franklin Templeton ETF Trust | 1,223,800 | 13.2M $ | 2.65 % | as of Mar 31, 2026 · Original filing |
| 57 | American Funds Developing World Growth & Income Fund American Funds Developing World Growth & Income Fund | 1,215,519 | 14.5M $ | 0.57 % | as of Feb 28, 2026 · Original filing |
| 58 | Fidelity Contrafund Fidelity Contrafund | 1,186,813 | 12.9M $ | 0.01 % | as of Mar 31, 2026 · Original filing |
| 59 | FUNDO DE INVESTIMENTO EM AÇÕES ALCATRAZES II | 1,177,652 | 69.9M R$ | 40.73 % | as of Apr 30, 2026 · Original filing |
| 60 | CLIQUE MASTER RENDA FIXA FUNDO DE INVESTIMENTO FINANCEIRO - MULTIMERCADO CRÉDITO PRIVADO RESP LTDA | 1,165,968 | 69.2M R$ | 7.47 % | as of Apr 30, 2026 · Original filing |
| 61 | X LAB FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES | 1,100,000 | 65.3M R$ | 9.02 % | as of Apr 30, 2026 · Original filing |
| 62 | FHS FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES | 1,100,000 | 65.3M R$ | 13.98 % | as of Apr 30, 2026 · Original filing |
| 63 | DAHLIA TOTAL RETURN MASTER FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO - RESPONSABILIDADE LIMITADA | 1,094,300 | 64.9M R$ | 4.74 % | as of Apr 30, 2026 · Original filing |
| 64 | Avantis Emerging Markets Equity ETF American Century ETF Trust | 1,089,003 | 13.1M $ | 0.06 % | as of Feb 28, 2026 · Original filing |
| 65 | EMERGING MARKETS CORE EQUITY 2 PORTFOLIO DFA INVESTMENT DIMENSIONS GROUP INC | 1,042,643 | 12.5M $ | 0.03 % | as of Apr 30, 2026 · Original filing |
| 66 | CAMBURI FUNDO DE INVESTIMENTO FINANCEIRO DE ACOES | 1,007,884 | 59.8M R$ | 40.34 % | as of Apr 30, 2026 · Original filing |
| 67 | FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO ODA II | 989,296 | 58.7M R$ | 64.80 % | as of Apr 30, 2026 · Original filing |
| 68 | VANGUARD TOTAL WORLD STOCK INDEX FUND VANGUARD INTERNATIONAL EQUITY INDEX FUNDS | 986,124 | 11.8M $ | 0.01 % | as of Apr 30, 2026 · Original filing |
| 69 | Nuveen Emerging Markets Equity Index Fund TIAA-CREF Funds | 941,600 | 11.3M $ | 0.12 % | as of Apr 30, 2026 · Original filing |
| 70 | ITAÚ DUNAMIS MASTER FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES RESPONSABILIDADE LIMITADA | 900,000 | 53.4M R$ | 3.50 % | as of Apr 30, 2026 · Original filing |
| 71 | KAPITALO MASTER II FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO | 886,723 | 52.6M R$ | 1.53 % | as of Apr 30, 2026 · Original filing |
| 72 | PROTEUS FUNDO DE INVESTIMENTO EM AÇÕES | 850,000 | 50.4M R$ | 15.37 % | as of Apr 30, 2026 · Original filing |
| 73 | Tax-Managed International Equity Fund RUSSELL INVESTMENT CO | 814,019 | 9.8M $ | 0.17 % | as of Apr 30, 2026 · Original filing |
| 74 | EQ/MFS International Growth Portfolio EQ Advisors Trust | 812,989 | 8.9M $ | 0.65 % | as of Mar 31, 2026 · Original filing |
| 75 | UBS Emerging Markets Equity Opportunity Fund UBS FUNDS | 810,500 | 8.8M $ | 2.24 % | as of Mar 31, 2026 · Original filing |
| 76 | Columbia EM Core ex-China ETF Columbia ETF Trust II | 796,491 | 8.6M $ | 0.58 % | as of Mar 31, 2026 · Original filing |
| 77 | William Blair International Growth Fund WILLIAM BLAIR FUNDS | 747,400 | 8.1M $ | 0.81 % | as of Mar 31, 2026 · Original filing |
| 78 | SEB Emerging Marketsfond SEB Funds AB | 705,019 | 72.4M SEK | 0.84 % | as of Mar 31, 2026 · Original filing |
| 79 | MERAKI BRABUS FUNDO DE INVESTIMENTO EM AÇÕES | 700,561 | 41.6M R$ | 8.99 % | as of Apr 30, 2026 · Original filing |
| 80 | New World Fund AMERICAN FUNDS INSURANCE SERIES | 679,009 | 7.4M $ | 0.19 % | as of Mar 31, 2026 · Original filing |
| 81 | Emerging Markets Equities Fund Inc Emerging Markets Equities Fund Inc | 670,243 | 7.3M $ | 1.62 % | as of Mar 31, 2026 · Original filing |
| 82 | Fidelity Total International Index Fund Fidelity Salem Street Trust | 647,660 | 7.8M $ | 0.03 % | as of Apr 30, 2026 · Original filing |
| 83 | FIF - CLASSE DE INVESTIMENTO EM AÇÕES VIVEST IBOVESPA ATIVO RESP LIMITADA | 614,700 | 36.5M R$ | 3.70 % | as of Apr 30, 2026 · Original filing |
| 84 | PETROS SELEÇÃO RETORNO REAL FIF - CLASSE DE INVESTIMENTO EM AÇÕES - RESP LIMITADA | 610,700 | 36.2M R$ | 3.19 % | as of Apr 30, 2026 · Original filing |
| 85 | Fidelity Global ex U.S. Index Fund Fidelity Salem Street Trust | 608,500 | 7.3M $ | 0.04 % | as of Apr 30, 2026 · Original filing |
| 86 | CAIXA VINCI VALOR FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES - RESPONSABILIDADE LIMITADA | 606,139 | 36M R$ | 4.31 % | as of Apr 30, 2026 · Original filing |
| 87 | MISTYQUE TEENS FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES | 600,000 | 35.6M R$ | 20.17 % | as of Apr 30, 2026 · Original filing |
| 88 | JNL Multi-Manager Emerging Markets Equity Fund JNL Series Trust | 571,825 | 6.2M $ | 0.45 % | as of Mar 31, 2026 · Original filing |
| 89 | ITAÚ ÍNDEX AÇÕES IBOVESPA FUNDO DE INVESTIMENTO FINANCEIRO RESPONSABILIDADE LIMITADA | 565,700 | 33.6M R$ | 2.68 % | as of Apr 30, 2026 · Original filing |
| 90 | JPMorgan ActiveBuilders Emerging Markets Equity ETF J.P. Morgan Exchange-Traded Fund Trust | 552,441 | 6.6M $ | 0.41 % | as of Apr 30, 2026 · Original filing |
| 91 | William Blair Institutional International Growth Fund WILLIAM BLAIR FUNDS | 537,400 | 5.8M $ | 0.80 % | as of Mar 31, 2026 · Original filing |
| 92 | FRANKFURT FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO | 523,300 | 31.1M R$ | 50.78 % | as of Apr 30, 2026 · Original filing |
| 93 | Fidelity SAI Emerging Markets Index Fund Fidelity Salem Street Trust | 515,900 | 6.2M $ | 0.12 % | as of Apr 30, 2026 · Original filing |
| 94 | Transamerica Emerging Markets Equity TRANSAMERICA FUNDS | 511,600 | 6.1M $ | 1.48 % | as of Apr 30, 2026 · Original filing |
| 95 | GENOA CAPITAL COAST FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO RESPONSABILIDADE LIMITADA | 507,288 | 30.1M R$ | 1.49 % | as of Apr 30, 2026 · Original filing |
| 96 | Handelsbanken Latinamerika Impact Tema Handelsbanken Fonder AB | 507,000 | 52.1M SEK | 2.00 % | as of Mar 31, 2026 · Original filing |
| 97 | THE EMERGING MARKETS SERIES DFA INVESTMENT TRUST CO | 495,906 | 5.9M $ | 0.07 % | as of Apr 30, 2026 · Original filing |
| 98 | Storebrand Emerging Markets Storebrand Asset Management AS | 477,441 | 49M SEK | 0.21 % | as of Mar 31, 2026 · Original filing |
| 99 | FUNDO DE INVESTIMENTO FINANCEIRO DE AÇÕES PGB | 468,200 | 27.8M R$ | 6.47 % | as of Apr 30, 2026 · Original filing |
| 100 | FUNDO DE INVESTIMENTO FINANCEIRO DE AÇÕES MISTRAL | 447,140 | 26.5M R$ | 9.20 % | as of Apr 30, 2026 · Original filing |