Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Check Point Software Tech Ltd	49,036	$5.493M	8.6%	$106.61	—	COM	m22465104
INFY	Infosys Ltd Sp ADR	182,558	$3.098M	4.9%	$12.19	—	ADR	456788108
—	Alibaba Group Holding Ltd Sp A	32,714	$2.617M	4.1%	$150.74	—	ADR	01609w102
—	Daqo New Energy Corp Sp ADR	38,244	$2.03M	3.2%	$53.08	—	ADR	23703q203
SAP	Sap SE Sp ADR	22,222	$1.806M	2.8%	$83.37	—	ADR	803054204
—	Vipshop Holdings Limited Spons	206,170	$1.734M	2.7%	$8.41	—	ADR	92763w103
—	Alimentation Couche-Tard Inc C	41,897	$1.695M	2.7%	$40.46	—	COM	01626p148
TSM	Taiwan Semiconductor Mfg Ltd S	23,912	$1.639M	2.6%	$37.76	—	ADR	874039100
NVO	Novo-Nordisk AS ADR	15,117	$1.506M	2.4%	$66.35	—	ADR	670100205
RELX	Relx PLC Sp ADR	60,868	$1.48M	2.3%	$21.59	—	ADR	759530108
—	Pt Bank Central Asia Tbk Unspo	103,090	$1.433M	2.3%	$13.31	—	ADR	69368g105
—	Petroleo Brasileiro SA Sp ADR	111,782	$1.379M	2.2%	$10.34	—	COM	71654v408
—	CGI Inc Cl A	18,273	$1.375M	2.2%	$70.10	—	COM	12532h104
—	Icon PLC	7,183	$1.32M	2.1%	$133.94	—	COM	g4705a100
CIG	Cia Energetica de Minas Gerais	624,876	$1.262M	2.0%	$2.37	—	ADR	204409601
RY	Royal Bank of Canada Montreal	13,796	$1.242M	2.0%	$64.59	+48.5%	COM	780087102
TM	Toyota Motor Corp Sp ADR 2	9,264	$1.207M	1.9%	$125.47	—	ADR	892331307
—	Telus Corp	59,609	$1.184M	1.9%	$24.11	—	COM	87971m103
—	Nutrien Ltd	13,935	$1.162M	1.8%	$83.39	—	COM	67077m108
—	Anglo American PLC Sp ADR	77,013	$1.155M	1.8%	$17.83	—	ADR	03485p300
LVMUY	LVMH Moet Hennessy Louis Vuitt	9,796	$1.151M	1.8%	$122.19	—	ADR	502441306
BMO	BANK MONTREAL QUE	12,744	$1.117M	1.8%	$83.67	0.0%	COM	063671101
TECK	Teck Resources Ltd Cl B	36,424	$1.108M	1.7%	$30.87	0.0%	COM	878742204
—	UBS Group AG	76,286	$1.107M	1.7%	$14.51	—	COM	h42097107
—	Trend Micro Inc Sp ADR	20,330	$1.093M	1.7%	$60.10	—	ADR	89486m206
NTDOY	Nintendo Ltd ADR	21,118	$1.076M	1.7%	$70.18	—	ADR	654445303
BHP	BHP GROUP LTD	21,368	$1.069M	1.7%	$54.58	—	ADR	088606108
NNGRY	NN Group NV Unsponsod ADR	54,500	$1.057M	1.7%	$19.39	—	ADR	629334103
—	Icl Group Ltd	126,377	$1.034M	1.6%	$8.18	—	COM	m53213100
—	Stellantis NV	85,729	$1.015M	1.6%	$15.45	—	COM	n82405106
—	Canadian Pacific Railway Ltd	15,163	$1.012M	1.6%	$110.73	—	COM	13645t100
—	Sonic Healthcare Ltd Sp ADR	50,364	$989K	1.6%	$22.81	—	ADR	83546a203
CNQ	Canadian Natural Resources Ltd	21,125	$984K	1.5%	$22.25	0.0%	COM	136385101
SGIOY	Shionogi & Co Ltd Unsponsored	81,410	$980K	1.5%	$16.15	—	ADR	824667109
—	Ferguson PLC	9,469	$975K	1.5%	$155.68	—	ADR	g3421j106
—	ARCELORMITTAL SA LUXEMBOURG NY	47,736	$950K	1.5%	$30.17	—	COM	03938l203
—	Vale SA ADR	69,519	$926K	1.5%	$16.18	—	ADR	91912e105
—	Novartis AG Sp ADR	12,099	$920K	1.4%	$94.85	—	ADR	66987v109
TSCDY	Tesco Plc Sp Adr	134,174	$919K	1.4%	$9.29	—	ADR	881575401
—	A P Moller-Maersk AS Unsponsor	98,962	$899K	1.4%	$13.54	—	ADR	00202f102
SHECY	Shin Etsu Chem Co Ltd ADR	35,860	$887K	1.4%	$33.59	—	ADR	824551105
—	Auto Trader Group PLC Unsponso	641,500	$881K	1.4%	$2.06	—	ADR	05277e104
EONGY	E On SE Sp ADR	106,353	$810K	1.3%	$11.59	—	ADR	268780103
RIO	Rio Tinto PLC Sp ADR	14,434	$795K	1.2%	$59.52	—	COM	767204100
TOELY	Tokyo Electron Ltd ADR	11,979	$741K	1.2%	$138.50	—	ADR	889110102
—	Gsk PLC Sp ADR	23,781	$700K	1.1%	$29.44	—	ADR	37733w204
SGBLY	Standard Bank Group Ltd Sp ADR	69,500	$547K	0.9%	$12.52	—	ADR	853118206
JAPAY	Japan Tobacco Inc Unsponsord A	62,000	$506K	0.8%	$9.85	—	ADR	471105205
IX	ORIX Corp Sp ADR	5,300	$375K	0.6%	$99.85	—	ADR	686330101
—	Inmode Ltd	11,390	$332K	0.5%	$53.50	—	COM	m5425m103
—	ENI SPA Sp ADR	11,360	$240K	0.4%	$23.79	—	COM	26874r108
—	Danaos Corporation	4,155	$231K	0.4%	$74.43	—	COM	y1968p121
—	Equinor ASA Sp ADR	6,588	$218K	0.3%	$33.09	—	ADR	29446m102
—	Global Ship Lease Inc Cl A	12,370	$195K	0.3%	$16.49	—	COM	y27183600