| 1 | iShares MSCI Brazil ETF iShares, Inc. | 32,473,436 | 170.7M $ | 1.77 % | as of Feb 28, 2026 · Original filing |
| 2 | Lazard Emerging Markets Equity Portfolio LAZARD FUNDS INC | 26,246,152 | 116.5M $ | 1.48 % | as of Mar 31, 2026 · Original filing |
| 3 | VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND VANGUARD STAR FUNDS | 25,006,496 | 112.2M $ | 0.02 % | as of Apr 30, 2026 · Original filing |
| 4 | VANGUARD EMERGING MARKETS STOCK INDEX FUND VANGUARD INTERNATIONAL EQUITY INDEX FUNDS | 23,666,372 | 106.1M $ | 0.07 % | as of Apr 30, 2026 · Original filing |
| 5 | OPPORTUNITY TOTAL MASTER FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO - RESPONSABILIDADE LIMITADA | 21,807,400 | 484.3M R$ | 20.62 % | as of Apr 30, 2026 · Original filing |
| 6 | OPPORTUNITY CAPITAL FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES - RESPONSABILIDADE LIMITADA | 21,807,400 | 484.3M R$ | 41.36 % | as of Apr 30, 2026 · Original filing |
| 7 | GLADIUS FIF MULTIMERCADO CRÉDITO PRIVADO INVESTIMENTO NO EXTERIOR | 21,379,709 | 474.3M R$ | 3.65 % | as of Apr 30, 2026 · Original filing |
| 8 | ABSOLUTE VERTEX MASTER FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO - RESPONSABILIDADE LIMITADA | 20,950,446 | 40.5M R$ | 0.44 % | as of Apr 30, 2026 · Original filing |
| 9 | Invesco Developing Markets Fund AIM Investment Funds (Invesco Investment Funds) | 20,376,357 | 91.4M $ | 1.04 % | as of Apr 30, 2026 · Original filing |
| 10 | iShares Core MSCI Emerging Markets ETF iShares, Inc. | 18,927,141 | 99.5M $ | 0.07 % | as of Feb 28, 2026 · Original filing |
| 11 | iShares Latin America 40 ETF iShares Trust | 18,816,308 | 83.5M $ | 1.97 % | as of Mar 31, 2026 · Original filing |
| 12 | Columbia Overseas Value Fund COLUMBIA FUNDS SERIES TRUST | 16,303,457 | 86M $ | 1.25 % | as of Feb 28, 2026 · Original filing |
| 13 | BB AÇÕES BB FUNDO DE INVESTIMENTO FINANCEIRO RESPONSABILIDADE LIMITADA | 15,579,974 | 346M R$ | 99.35 % | as of Apr 30, 2026 · Original filing |
| 14 | ARGOS FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES INVESTIMENTO NO EXTERIOR RESPONSABILIDADE LIMITADA | 14,311,194 | 317.9M R$ | 27.84 % | as of Apr 30, 2026 · Original filing |
| 15 | SIIT WORLD EQUITY EX-US FUND SEI INSTITUTIONAL INVESTMENTS TRUST | 14,121,422 | 74.4M $ | 0.80 % | as of Feb 28, 2026 · Original filing |
| 16 | Fidelity SAI Emerging Markets Value Index Fund Fidelity Salem Street Trust | 12,849,500 | 57.6M $ | 0.50 % | as of Apr 30, 2026 · Original filing |
| 17 | Pzena Emerging Markets Value Fund Advisors Series Trust | 12,529,200 | 66.1M $ | 1.64 % | as of Feb 28, 2026 · Original filing |
| 18 | OPPORTUNITY ORBIS FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO - RESPONSABILIDADE LIMITADA | 12,054,349 | 267.7M R$ | 23.83 % | as of Apr 30, 2026 · Original filing |
| 19 | RBC Emerging Markets Equity Fund RBC Funds Trust | 12,044,600 | 53.6M $ | 0.99 % | as of Mar 31, 2026 · Original filing |
| 20 | OPPORTUNITY CARTEIRA FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES - RESPONSABILIDADE LIMITADA | 11,924,157 | 264.8M R$ | 57.79 % | as of Apr 30, 2026 · Original filing |
| 21 | AZ QUEST LOW VOL FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO RESPONSABILIDADE LIMITADA | 11,584,240 | 257.3M R$ | 9.15 % | as of Apr 30, 2026 · Original filing |
| 22 | Schwab Fundamental Emerging Markets Equity ETF SCHWAB STRATEGIC TRUST | 9,939,283 | 52.2M $ | 0.55 % | as of Feb 28, 2026 · Original filing |
| 23 | OITI FIF MULTIMERCADO CRÉDITO PRIVADO INVESTIMENTO NO EXTERIOR RESPONSABILIDADE LIMITADA | 8,511,000 | 189M R$ | 0.56 % | as of Apr 30, 2026 · Original filing |
| 24 | Strategic Advisers Fidelity Emerging Markets Fund Fidelity Rutland Square Trust II | 8,230,100 | 43.3M $ | 0.12 % | as of Feb 28, 2026 · Original filing |
| 25 | NIMROD FIF MULTIMERCADO CRÉDITO PRIVADO INVESTIMENTO NO EXTERIOR | 7,939,694 | 161.5M R$ | 0.46 % | as of Apr 30, 2026 · Original filing |
| 26 | VANGUARD INTERNATIONAL VALUE FUND VANGUARD TRUSTEES' EQUITY FUND | 7,465,538 | 33.5M $ | 0.30 % | as of Apr 30, 2026 · Original filing |
| 27 | ARGA Emerging Markets Value Fund ADVISORS' INNER CIRCLE III | 7,224,900 | 32.2M $ | 1.95 % | as of Mar 31, 2026 · Original filing |
| 28 | Bridge Builder International Equity Fund Bridge Builder Trust | 6,607,200 | 29.3M $ | 0.12 % | as of Mar 31, 2026 · Original filing |
| 29 | PIMCO RAE Emerging Markets Fund PIMCO Equity Series | 5,959,780 | 26.5M $ | 0.95 % | as of Mar 31, 2026 · Original filing |
| 30 | IBIUNA LONG SHORT ST MASTER FIF - CLASSE DE INVESTIMENTO MULTIMERCADO - RESP LIMITADA | 5,553,819 | 123.4M R$ | 6.32 % | as of Apr 30, 2026 · Original filing |
| 31 | SANTANDER AMAZONAS MULTIMERCADO CRÉDITO PRIVADO - FIF | 5,374,431 | 191.3M R$ | 4.91 % | as of Apr 30, 2026 · Original filing |
| 32 | State Street(R) SPDR(R) Portfolio Emerging Markets ETF SPDR INDEX SHARES FUNDS | 4,651,580 | 20.5M $ | 0.13 % | as of Mar 31, 2026 · Original filing |
| 33 | Nomura International Core Equity Fund IVY FUNDS | 4,572,735 | 20.4M $ | 1.68 % | as of Mar 31, 2026 · Original filing |
| 34 | ECLIPSEON FUNDO DE INVESTIMENTO EM AÇÕES | 4,564,100 | 101.4M R$ | 10.67 % | as of Apr 30, 2026 · Original filing |
| 35 | iShares MSCI Emerging Markets ETF iShares, Inc. | 4,418,118 | 23.2M $ | 0.08 % | as of Feb 28, 2026 · Original filing |
| 36 | DIMENSIONAL EMERGING MARKETS VALUE FUND DIMENSIONAL EMERGING MARKETS VALUE FUND | 4,283,373 | 19.2M $ | 0.13 % | as of Apr 30, 2026 · Original filing |
| 37 | AP7 Aktiefond Sjunde AP-fonden | 4,098,013 | 171.9M SEK | 0.01 % | as of Mar 31, 2026 · Original filing |
| 38 | VANGUARD FTSE ALL-WORLD EX-US INDEX FUND VANGUARD INTERNATIONAL EQUITY INDEX FUNDS | 3,948,339 | 17.7M $ | 0.02 % | as of Apr 30, 2026 · Original filing |
| 39 | PREVI RENDA VARIÁVEL ATIVA FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES RESPONSABILIDADE LIMITADA | 3,754,518 | 83.4M R$ | 1.82 % | as of Apr 30, 2026 · Original filing |
| 40 | State Street(R) SPDR(R) S&P Emerging Markets Dividend ETF SPDR INDEX SHARES FUNDS | 3,748,981 | 16.5M $ | 1.45 % | as of Mar 31, 2026 · Original filing |
| 41 | AZ QUEST TERMO FUNDO DE INVESTIMENTO FINANCEIRO RENDA FIXA LONGO PRAZO | 3,712,550 | 82.5M R$ | 38.35 % | as of Apr 30, 2026 · Original filing |
| 42 | iShares MSCI Emerging Markets ex China ETF iShares, Inc. | 3,540,533 | 18.6M $ | 0.10 % | as of Feb 28, 2026 · Original filing |
| 43 | Fidelity Series Global ex U.S. Index Fund Fidelity Salem Street Trust | 3,257,500 | 14.6M $ | 0.02 % | as of Apr 30, 2026 · Original filing |
| 44 | JAGUAR FUNDO DE INVESTIMENTO FINANCEIRO AÇÕES RESPONSABILIDADE LIMITADA | 3,100,000 | 68.9M R$ | 7.55 % | as of Apr 30, 2026 · Original filing |
| 45 | CAPSTONE MACRO MASTER FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO | 3,031,948 | 67.3M R$ | 0.57 % | as of Apr 30, 2026 · Original filing |
| 46 | EMERGING MARKETS CORE EQUITY 2 PORTFOLIO DFA INVESTMENT DIMENSIONS GROUP INC | 2,983,807 | 13.4M $ | 0.04 % | as of Apr 30, 2026 · Original filing |
| 47 | ITAÚ FTSE RAFI BRAZIL 50 CAPPED INDEX FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES RESP LIMITADA | 2,768,500 | 61.5M R$ | 4.47 % | as of Apr 30, 2026 · Original filing |
| 48 | PARTNER FIF - CLASSE DE INVESTIMENTO EM AÇÕES - RESP LIMITADA | 2,753,300 | 61.2M R$ | 4.65 % | as of Apr 30, 2026 · Original filing |
| 49 | Invesco Emerging Markets ex-China Fund AIM Investment Funds (Invesco Investment Funds) | 2,637,676 | 11.8M $ | 0.98 % | as of Apr 30, 2026 · Original filing |
| 50 | Nomura VIP International Core Equity Series Ivy Variable Insurance Portfolios | 2,491,068 | 11.1M $ | 1.65 % | as of Mar 31, 2026 · Original filing |
| 51 | V8 SRT FUNDO DE INVESTIMENTO FINANCEIRO RENDA FIXA - RESPONSABILIDADE LIMITADA | 2,383,389 | 2.2M R$ | 0.30 % | as of Apr 30, 2026 · Original filing |
| 52 | Avantis Emerging Markets Equity ETF American Century ETF Trust | 2,342,980 | 12.4M $ | 0.06 % | as of Feb 28, 2026 · Original filing |
| 53 | Victory Market Neutral Income Fund Victory Portfolios II | 2,299,400 | 10.2M $ | 0.35 % | as of Mar 31, 2026 · Original filing |
| 54 | Invesco RAFI Emerging Markets ETF Invesco Exchange-Traded Fund Trust II | 2,230,996 | 9.9M $ | 0.51 % | as of Apr 30, 2026 · Original filing |
| 55 | CLASSE ÚNICA ICEBERG FUNDO DE INVESTIMENTO MULTIMERCADO CRÉDITO PRIVADO LONGO PRAZO | 2,220,638 | 49.3M R$ | 1.12 % | as of Apr 30, 2026 · Original filing |
| 56 | REAL INVESTOR MASTER FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO - RESPONSABILIDADE LIMITADA | 2,204,862 | 49M R$ | 3.69 % | as of Apr 30, 2026 · Original filing |
| 57 | Schwab Emerging Markets Equity ETF SCHWAB STRATEGIC TRUST | 2,193,898 | 11.5M $ | 0.09 % | as of Feb 28, 2026 · Original filing |
| 58 | Schwab Fundamental Emerging Markets Equity Index Fund SCHWAB CAPITAL TRUST | 2,108,118 | 9.5M $ | 0.55 % | as of Apr 30, 2026 · Original filing |
| 59 | Fidelity Emerging Markets Index Fund Fidelity Salem Street Trust | 2,059,100 | 9.2M $ | 0.06 % | as of Apr 30, 2026 · Original filing |
| 60 | Tax-Managed International Equity Fund RUSSELL INVESTMENT CO | 2,042,104 | 9.2M $ | 0.16 % | as of Apr 30, 2026 · Original filing |
| 61 | EQ/Lazard Emerging Markets Equity Portfolio EQ Advisors Trust | 2,033,800 | 9.1M $ | 1.51 % | as of Mar 31, 2026 · Original filing |
| 62 | CAIXA BANCO DO BRASIL PLUS FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES - RESPONSABILIDADE LIMITADA | 1,954,400 | 43.4M R$ | 99.58 % | as of Apr 30, 2026 · Original filing |
| 63 | iShares Core MSCI Total International Stock ETF iShares Trust | 1,948,322 | 8.7M $ | 0.02 % | as of Apr 30, 2026 · Original filing |
| 64 | VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND VANGUARD WHITEHALL FUNDS | 1,870,536 | 8.4M $ | 0.04 % | as of Apr 30, 2026 · Original filing |
| 65 | Variable Portfolio - Partners International Value Fund Columbia Funds Variable Series Trust II | 1,854,300 | 8.3M $ | 0.57 % | as of Mar 31, 2026 · Original filing |
| 66 | KRYPTON FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES | 1,810,342 | 40.2M R$ | 23.49 % | as of Apr 30, 2026 · Original filing |
| 67 | APOLO FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES | 1,739,142 | 38.6M R$ | 21.75 % | as of Apr 30, 2026 · Original filing |
| 68 | Franklin FTSE Brazil ETF Franklin Templeton ETF Trust | 1,709,100 | 7.5M $ | 1.51 % | as of Mar 31, 2026 · Original filing |
| 69 | VANGUARD EMERGING MARKETS SELECT STOCK FUND VANGUARD TRUSTEES' EQUITY FUND | 1,653,000 | 7.4M $ | 0.61 % | as of Apr 30, 2026 · Original filing |
| 70 | AQUARIUS FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES | 1,622,742 | 36M R$ | 22.77 % | as of Apr 30, 2026 · Original filing |
| 71 | AQR Emerging Multi-Style II Fund AQR Funds | 1,608,200 | 7.1M $ | 1.23 % | as of Mar 31, 2026 · Original filing |
| 72 | Brown Advisory Emerging Markets Select Fund Brown Advisory Funds | 1,587,200 | 7.1M $ | 0.81 % | as of Mar 31, 2026 · Original filing |
| 73 | SHARP TE1 FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO - RESPONSABILIDADE LIMITADA | 1,561,517 | 1.5M R$ | 0.92 % | as of Apr 30, 2026 · Original filing |
| 74 | UBS PRÓPRIO FUNDO DE INVESTIMENTO FINANCEIRO - MULTIMERCADO CRÉDITO PRIVADO | 1,545,103 | 34.3M R$ | 1.14 % | as of Apr 30, 2026 · Original filing |
| 75 | BTG PACTUAL SYNERGY EQUITY HEDGE FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO | 1,518,787 | 33.7M R$ | 3.24 % | as of Apr 30, 2026 · Original filing |
| 76 | Lazard Retirement Emerging Markets Equity Portfolio LAZARD RETIREMENT SERIES INC | 1,501,304 | 6.7M $ | 1.51 % | as of Mar 31, 2026 · Original filing |
| 77 | BTG PACTUAL SYNERGY LONG BIAS FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES | 1,497,461 | 33.3M R$ | 5.02 % | as of Apr 30, 2026 · Original filing |
| 78 | SIT International Equity Fund SEI INSTITUTIONAL INTERNATIONAL TRUST | 1,464,400 | 6.5M $ | 0.19 % | as of Mar 31, 2026 · Original filing |
| 79 | SPX HORNET EQUITY HEDGE MASTER FIF MULTIMERCADO RESPONSABILIDADE LIMITADA | 1,461,486 | 32.5M R$ | 1.21 % | as of Apr 30, 2026 · Original filing |
| 80 | KAPITALO MASTER II FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO | 1,376,720 | 30.6M R$ | 0.89 % | as of Apr 30, 2026 · Original filing |
| 81 | VANGUARD TOTAL WORLD STOCK INDEX FUND VANGUARD INTERNATIONAL EQUITY INDEX FUNDS | 1,368,240 | 6.1M $ | 0.01 % | as of Apr 30, 2026 · Original filing |
| 82 | SHARP TE3 FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO - RESPONSABILIDADE LIMITADA | 1,364,550 | 1.3M R$ | 0.80 % | as of Apr 30, 2026 · Original filing |
| 83 | ITAÚ ÍNDEX AÇÕES IBOVESPA FUNDO DE INVESTIMENTO FINANCEIRO RESPONSABILIDADE LIMITADA | 1,345,952 | 29.9M R$ | 2.38 % | as of Apr 30, 2026 · Original filing |
| 84 | Nuveen Emerging Markets Equity Index Fund TIAA-CREF Funds | 1,310,166 | 5.9M $ | 0.06 % | as of Apr 30, 2026 · Original filing |
| 85 | SPX SUMMIT MACRO LONG SHORT MASTER FIF MULTIMERCADO CRED PRIV RESPONSABILIDADE LIMITADA | 1,285,169 | 28.5M R$ | 1.88 % | as of Apr 30, 2026 · Original filing |
| 86 | Storebrand Global All Countries Storebrand Asset Management AS | 1,281,167 | 53.8M SEK | 0.12 % | as of Mar 31, 2026 · Original filing |
| 87 | BRASILPREV TOP A FUNDO DE INVESTIMENTO FINANCEIRO DE AÇÕES RESPONSABILIDADE LIMITADA | 1,270,190 | 28.2M R$ | 1.89 % | as of Apr 30, 2026 · Original filing |
| 88 | POSITIVO IV FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES RESPONSABILIDADE LIMITDA | 1,246,200 | 27.7M R$ | 3.61 % | as of Apr 30, 2026 · Original filing |
| 89 | CLASSE ÚNICA DO TROJANS 95 FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO CRÉDITO PRIVADO | 1,246,200 | 27.7M R$ | 3.61 % | as of Apr 30, 2026 · Original filing |
| 90 | BRADESCO FUNDO DE INVESTIMENTO FINANCEIRO - CLASSE DE INVESTIMENTO EM AÇÕES AM3G | 1,199,360 | 26.6M R$ | 7.54 % | as of Apr 30, 2026 · Original filing |
| 91 | Storebrand Emerging Markets Storebrand Asset Management AS | 1,132,114 | 47.5M SEK | 0.20 % | as of Mar 31, 2026 · Original filing |
| 92 | THE EMERGING MARKETS SERIES DFA INVESTMENT TRUST CO | 1,124,309 | 5M $ | 0.06 % | as of Apr 30, 2026 · Original filing |
| 93 | Strategic Advisers Emerging Markets Fund Fidelity Rutland Square Trust II | 1,114,400 | 5.9M $ | 0.04 % | as of Feb 28, 2026 · Original filing |
| 94 | SPX RAPTOR MASTER FUNDO DE INVESTIMENTO FINANCEIRO MULTIMERCADO CRÉDITO PRIVADO RESP LIMITADA | 1,104,417 | 24.5M R$ | 0.41 % | as of Apr 30, 2026 · Original filing |
| 95 | College Retirement Equities Fund - Total Global Stock Account College Retirement Equities Fund | 1,053,902 | 4.7M $ | 0.00 % | as of Mar 31, 2026 · Original filing |
| 96 | ITAÚ FLEXPREV FIF AÇÕES - RESP LIMITADA | 1,025,498 | 22.8M R$ | 1.32 % | as of Apr 30, 2026 · Original filing |
| 97 | ITAÚ DUNAMIS MASTER FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES RESPONSABILIDADE LIMITADA | 1,008,000 | 22.4M R$ | 1.47 % | as of Apr 30, 2026 · Original filing |
| 98 | FIF - CLASSE DE INVESTIMENTO EM AÇÕES VIVEST IBOVESPA ATIVO RESP LIMITADA | 1,000,300 | 22.2M R$ | 2.25 % | as of Apr 30, 2026 · Original filing |
| 99 | CAIXA RV 100 PREVINVEST PREVIDENCIÁRIO FUNDO DE INVESTIMENTO FINANCEIRO EM AÇÕES - RESP LIMITADA | 961,190 | 21.3M R$ | 2.39 % | as of Apr 30, 2026 · Original filing |
| 100 | ITAÚ INDEX AÇÕES IBRX FUNDO DE INVESTIMENTO FINANCEIRO RESPONSABILIDADE LIMITADA | 956,232 | 21.2M R$ | 2.18 % | as of Apr 30, 2026 · Original filing |