Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IEUR	iShares Core MSCI Europe ETF	811,495	$37.22M	13.0%	$46.82	—	COM	46434V738
MCHI	iShares MSCI China ETF	486,881	$30.39M	10.6%	$61.93	—	COM	46429B671
JPXN	iShares JPX-Nikkei 400 ETF	353,831	$20.88M	7.3%	$62.10	—	COM	464287382
EWY	iShares MSCI South Korea ETF	263,584	$16.06M	5.6%	$71.04	—	COM	464286772
EWT	iShares MSCI Taiwan ETF	417,502	$14.43M	5.0%	$34.04	—	COM	46434G772
EWC	iShares MSCI Canada ETF	494,985	$13.68M	4.8%	$28.45	—	COM	464286509
EWL	iShares MSCI Switzerland ETF	322,502	$11.4M	4.0%	$33.50	—	COM	464286749
SSSXF	SPDR MSCI Europe Energy UCITS ETF (Ireland)	62,654	$10.24M	3.6%	$162.42	—	COM	G8T03D194
EWA	iShares MSCI Australia ETF	453,133	$9.749M	3.4%	$20.89	—	COM	464286103
ERCTF	SPDR MSCI Europe Consumer Staples UCITS ETF (Ireland)	42,351	$9.012M	3.1%	$194.04	—	COM	G8T03D186
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	309,048	$8.876M	3.1%	$28.72	—	COM	233051879
EWZ	iShares MSCI Brazil ETF	214,278	$8.779M	3.1%	$37.68	—	COM	464286400
AIVI	WisdomTree International Dividend ex-Financials Fund	205,985	$8.477M	3.0%	$41.15	—	COM	97717W786
THD	iShares MSCI Thailand ETF	89,240	$7.879M	2.7%	$86.03	—	COM	464286624
—	iShares MSCI Russia ETF	224,621	$7.745M	2.7%	$35.18	—	COM	46434G798
INDA	iShares MSCI India ETF	209,445	$7.379M	2.6%	$32.81	—	COM	46429B598
EZA	iShares MSCI South Africa ETF	117,128	$6.126M	2.1%	$63.03	—	COM	464286780
EWG	iShares MSCI Germany ETF	191,807	$5.161M	1.8%	$26.91	—	COM	464286806
EWJ	iShares MSCI Japan ETF	79,428	$4.343M	1.5%	$54.68	—	COM	46434G822
—	Xtrackers Japan JPX-Nikkei 400 Equity ETF	156,308	$4.175M	1.5%	$26.71	—	COM	233051663
IVLU	iShares Edge MSCI Intl Value Factor ETF	165,426	$3.927M	1.4%	$21.85	—	COM	46435G409
SSHXF	SPDR MSCI Europe Health Care UCITS ETF	25,662	$3.925M	1.4%	$152.95	—	COM	G8T03D210
EWW	iShares MSCI Mexico ETF	89,459	$3.896M	1.4%	$49.93	—	COM	464286822
SMIN	iShares MSCI India Small Cap ETF	76,226	$3.081M	1.1%	$42.37	—	COM	46429B614
—	TOPIX Banks ETF	1,705,936	$2.417M	0.8%	$1.65	—	COM	J4911E109
EIDO	iShares MSCI Indonesia ETF	71,910	$1.846M	0.6%	$23.62	—	COM	46429B309
IEMG	iShares Core MSCI Emerging Markets ETF	30,429	$1.573M	0.5%	$51.76	—	COM	46434G103
—	Airbus SE	10,775	$1.425M	0.5%	$57.54	—	COM	N0280E105
—	Leonardo SpA	119,498	$1.387M	0.5%	$14.45	—	COM	T63512106
CHFFF	China Everbright International Limited	1,351,501	$1.372M	0.5%	$0.70	-12.5%	COM	Y14226107
BJWTF	Beijing Enterprises Water Group Limited	2,151,550	$1.326M	0.5%	$0.53	—	COM	G0957L109
—	Dynagreen Environmental Protection Group Co., Ltd. Class H	2,823,185	$1.325M	0.5%	$0.41	—	COM	Y21869105
—	Cobham plc	889,620	$1.277M	0.4%	$1.24	—	COM	G41440143
CAE	CAE Inc.	56,611	$1.249M	0.4%	$18.71	+10.0%	COM	124765108
ESLT	Elbit Systems Ltd	9,617	$1.237M	0.4%	$112.55	+5.3%	COM	M3760D101
—	Canvest Environmental Protection Group Co. Ltd.	2,180,888	$1.089M	0.4%	$0.52	—	COM	G18322100
—	Dassault Aviation SA	736	$1.083M	0.4%	$389.47	—	COM	F24539102
THLEF	Thales SA	9,029	$1.079M	0.4%	$113.65	+3.3%	COM	F9156M108
BAESF	BAE Systems plc	171,617	$1.076M	0.4%	$6.16	-18.4%	COM	G06940103
SZDEF	Dongjiang Environmental Company Limited Class H	901,087	$1.038M	0.4%	$1.18	—	COM	Y2121H121
—	Global X MSCI Colombia ETF	100,172	$966K	0.3%	$10.68	—	COM	37950E200
EWM	iShares MSCI Malaysia ETF	32,251	$965K	0.3%	$32.34	—	COM	46434G814
PSCT	Invesco S&P SmallCap Information Technology ETF	11,947	$958K	0.3%	$82.29	—	COM	46138E115
PSCI	Invesco S&P SmallCap Industrials ETF	13,402	$843K	0.3%	$67.67	—	COM	46138E123
EPOL	iShares MSCI Poland ETF	34,253	$783K	0.3%	$25.08	—	COM	46429B606
ECH	iShares MSCI Chile ETF	17,909	$773K	0.3%	$52.99	—	COM	464286640
PSCH	Invesco S&P SmallCap Health Care ETF	5,942	$686K	0.2%	$128.43	—	COM	46138E149
PSCD	Invesco S&P SmallCap Consumer Discretionary ETF	9,953	$602K	0.2%	$62.56	—	COM	46138E180
SBIO	ALPS Medical Breakthroughs ETF	15,591	$564K	0.2%	$36.00	—	COM	00162Q593
TUR	iShares MSCI Turkey ETF	17,446	$423K	0.1%	$24.53	—	COM	464286715
PSCC	Invesco S&P SmallCap Consumer Staples ETF	4,972	$377K	0.1%	$80.25	—	COM	46138E172
KIE	SPDR S&P Insurance ETF	5,915	$182K	0.1%	$28.23	—	COM	78464A789
PSCM	Invesco S&P SmallCap Materials ETF	3,697	$175K	0.1%	$52.73	—	COM	46138G201
—	China Power Clean Energy Development Company Limited	220,483	$144K	0.1%	$0.49	—	COM	Y15006102
WSIOF	Wasion Holdings Limited	205,689	$107K	0.0%	$0.54	—	COM	G9463P108
TNJIF	Tianjin Capital Environmental Protection Group Co., Ltd. Class H	227,886	$96,000	0.0%	$0.02	-33.9%	COM	Y88228112
EOG	EOG Resources, Inc.	222	$21,000	0.0%	$69.83	+3.0%	COM	26875P101
—	Anadarko Petroleum Corporation	369	$16,000	0.0%	$49.93	—	COM	032511107
—	Pioneer Natural Resources Company	93	$14,000	0.0%	$149.02	—	COM	723787107
—	Concho Resources Inc.	88	$9,000	0.0%	$132.45	—	COM	20605P101