# EDGAR Filing Document

**Accession Number:** 0002047540
**File Stem:** 0002047540-26-000003
**Filing Date:** 2026-4
**Character Count:** 47410
**Document Hash:** 05ed35141591d83f4ac1a42c675be99b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002047540-26-000003.hdr.sgml**: 20260415

**ACCESSION NUMBER**: 0002047540-26-000003

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260415

**DATE AS OF CHANGE**: 20260415

**EFFECTIVENESS DATE**: 20260415

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Generali Investments CEE, investicni spolecnost, a.s.
- **CENTRAL INDEX KEY:** 0002047540

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** 2N
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24803
- **FILM NUMBER:** 26862694

**BUSINESS ADDRESS:**
- **STREET 1:** NA PANKRACI 1720/123
- **CITY:** PRAGUE
- **STATE:** 2N
- **ZIP:** 14021
- **BUSINESS PHONE:** 00420 281 044 198

**MAIL ADDRESS:**
- **STREET 1:** NA PANKRACI 1720/123
- **CITY:** PRAGUE
- **STATE:** 2N
- **ZIP:** 14021

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Generali Investments CEE investicni spolecnost a.s.<br>**Address:** NA PANKRACI 1720/123<br>PRAGUE, 2N 14021

**Form 13F File Number:** 028-24803

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Aniko Kozo<br>**Title:** Head of Portfolio Administration<br>**Phone:** 0036204684084

**Signature, Place, and Date of Signing:**

Aniko Kozo  Prague, 2N  04-15-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 452

**Form 13F Information Table Value Total:** $1907923545

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M Co | COM | 88579Y101 |  | 3236305 | 22284 | SH |  | SOLE |  | 22284 | 0 | 0 |
| ABB LTD. | COM | H0010V101 |  | 1134942 | 14345 | SH |  | SOLE |  | 14345 | 0 | 0 |
| Abbott Laboratories | COM | 002824100 |  | 2708845 | 26384 | SH |  | SOLE |  | 26384 | 0 | 0 |
| ABBVIE INC. | COM | 00287Y109 |  | 7967528 | 36634 | SH |  | SOLE |  | 36634 | 0 | 0 |
| ACCENTURE LTD | COM | G1151C101 |  | 2401291 | 12110 | SH |  | SOLE |  | 12110 | 0 | 0 |
| ADIDAS AG | COM | D0066B185 |  | 9330635 | 58169 | SH |  | SOLE |  | 58169 | 0 | 0 |
| ADOBE SYSTEMS INC. | COM | 00724F101 |  | 2707912 | 11140 | SH |  | SOLE |  | 11140 | 0 | 0 |
| Advanced Micro Devices Inc | COM | 007903107 |  | 12994091 | 63875 | SH |  | SOLE |  | 63875 | 0 | 0 |
| Agnico Eagle Mines Ltd | COM | 008474108 |  | 3317302 | 16343 | SH |  | SOLE |  | 16343 | 0 | 0 |
| Air Astana JSC | COM | 009063207 |  | 3584398 | 626643 | SH |  | SOLE |  | 626643 | 0 | 0 |
| Air Liquide SA | COM | F01764103 |  | 1344711 | 6540 | SH |  | SOLE |  | 6540 | 0 | 0 |
| Airbnb Inc | COM CL A | 009066101 |  | 3280249 | 25976 | SH |  | SOLE |  | 25976 | 0 | 0 |
| AIRBUS SE | COM | N0280G100 |  | 6883066 | 37035 | SH |  | SOLE |  | 37035 | 0 | 0 |
| ALAMOS GOLD INC. | COM CL A | 011532108 |  | 659163 | 14836 | SH |  | SOLE |  | 14836 | 0 | 0 |
| Alibaba Group Holding Ltd | SPONSORED ADS | 01609W102 |  | 4688817 | 37373 | SH |  | SOLE |  | 37373 | 0 | 0 |
| ALLEGRO EU SA | COM | FDS1BLBC8 |  | 6628917 | 933308 | SH |  | SOLE |  | 933308 | 0 | 0 |
| ALLIANZ SE | COM | D03080112 |  | 10536377 | 25137 | SH |  | SOLE |  | 25137 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 959523 | 2900 | SH |  | SOLE |  | 2900 | 0 | 0 |
| Alphabet Inc | CAP STK CL A | 02079K305 |  | 9610543 | 33421 | SH |  | SOLE |  | 33421 | 0 | 0 |
| Alphabet Inc | CAP STK CL C | 02079K107 |  | 12386902 | 43181 | SH |  | SOLE |  | 43181 | 0 | 0 |
| Alstom SA | COM | F0259M475 |  | 1860600 | 66364 | SH |  | SOLE |  | 66364 | 0 | 0 |
| Amazon.com Inc | COM | 023135106 |  | 21067343 | 101154 | SH |  | SOLE |  | 101154 | 0 | 0 |
| Ambev SA | SPONSORED ADR | 02319V103 |  | 352789 | 120818 | SH |  | SOLE |  | 120818 | 0 | 0 |
| America Movil SAB de CV | SPON ADS RP CL B | 02390A101 |  | 772350 | 30312 | SH |  | SOLE |  | 30312 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 9039312 | 29884 | SH |  | SOLE |  | 29884 | 0 | 0 |
| American International Group Inc | COM NEW | 026874784 |  | 413875 | 5500 | SH |  | SOLE |  | 5500 | 0 | 0 |
| AMERICAN TOWER CORP. | COM | 03027X100 |  | 1587736 | 9200 | SH |  | SOLE |  | 9200 | 0 | 0 |
| AMERICAN WATER WORKS CO INC. | COM | 030420103 |  | 802931 | 5900 | SH |  | SOLE |  | 5900 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 4290107 | 12193 | SH |  | SOLE |  | 12193 | 0 | 0 |
| Anglogold Ashanti Plc | COM SHS | G0378L100 |  | 2337693 | 24030 | SH |  | SOLE |  | 24030 | 0 | 0 |
| ANHEUSER-BUSCH INBEV NV | COM | B639CJ108 |  | 12112928 | 175509 | SH |  | SOLE |  | 175509 | 0 | 0 |
| APACHE CORP. | COM | 03743Q108 |  | 1103440 | 26000 | SH |  | SOLE |  | 26000 | 0 | 0 |
| Apple Inc | COM | 037833100 |  | 16398134 | 64613 | SH |  | SOLE |  | 64613 | 0 | 0 |
| Applied Materials Inc | COM | 038222105 |  | 845247 | 2473 | SH |  | SOLE |  | 2473 | 0 | 0 |
| AppLovin Corp | COM | 03831W108 |  | 437800 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| Aptiv PLC | COM | G3265R107 |  | 252970 | 3643 | SH |  | SOLE |  | 3643 | 0 | 0 |
| Ares Capital Corp | COM | 04010L103 |  | 2779783 | 154261 | SH |  | SOLE |  | 154261 | 0 | 0 |
| ASML Holding NV | COM | N07059202 |  | 12944450 | 10008 | SH |  | SOLE |  | 10008 | 0 | 0 |
| AstraZeneca PLC | COM | G0593M107 |  | 2978650 | 15328 | SH |  | SOLE |  | 15328 | 0 | 0 |
| AT Inc. | COM | 00206R102 |  | 5482821 | 189128 | SH |  | SOLE |  | 189128 | 0 | 0 |
| Atlassian Corp | COM | 049468101 |  | 126262 | 1850 | SH |  | SOLE |  | 1850 | 0 | 0 |
| Automatic Data Processing Inc | COM | 053015103 |  | 3107231 | 15293 | SH |  | SOLE |  | 15293 | 0 | 0 |
| AXA SA | COM | F06106102 |  | 5487440 | 121007 | SH |  | SOLE |  | 121007 | 0 | 0 |
| Axis Bank Ltd | COM | 05462W109 |  | 499550 | 8136 | SH |  | SOLE |  | 8136 | 0 | 0 |
| B2GOLD CORP. | COM | 11777Q209 |  | 237757 | 52485 | SH |  | SOLE |  | 52485 | 0 | 0 |
| BAE Systems plc | COM | G06940103 |  | 1589197 | 54606 | SH |  | SOLE |  | 54606 | 0 | 0 |
| Baidu Inc | SPON ADR REP A | 056752108 |  | 905845 | 8130 | SH |  | SOLE |  | 8130 | 0 | 0 |
| Baker Hughes Co | CL A | 05722G100 |  | 2124540 | 34800 | SH |  | SOLE |  | 34800 | 0 | 0 |
| Banco Bilbao Vizcaya Argentaria SA | COM | E11805103 |  | 988180 | 46854 | SH |  | SOLE |  | 46854 | 0 | 0 |
| Banco Bradesco SA | SP ADR PFD NEW | 059460303 |  | 403190 | 110463 | SH |  | SOLE |  | 110463 | 0 | 0 |
| Banco Santander SA | COM | E19790109 |  | 8027789 | 731982 | SH |  | SOLE |  | 731982 | 0 | 0 |
| Bank of America Corp | COM | 060505104 |  | 4286198 | 87922 | SH |  | SOLE |  | 87922 | 0 | 0 |
| Bank of China Ltd | COM | 06426M104 |  | 709392 | 44337 | SH |  | SOLE |  | 44337 | 0 | 0 |
| Bank Polska Kasa Opieki SA | COM | X0R77T117 |  | 33391668 | 569780 | SH |  | SOLE |  | 569780 | 0 | 0 |
| Barclays PLC | COM | G08036124 |  | 2006096 | 389377 | SH |  | SOLE |  | 389377 | 0 | 0 |
| Barrick Mining Corp | COM | 06849F108 |  | 9165798 | 224707 | SH |  | SOLE |  | 224707 | 0 | 0 |
| BASF SE | COM | D06216317 |  | 129518 | 2125 | SH |  | SOLE |  | 2125 | 0 | 0 |
| BAXTER INTERNATIONAL INC | COM | 071813109 |  | 218400 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| Bayer AG | COM | D0712D163 |  | 765264 | 16663 | SH |  | SOLE |  | 16663 | 0 | 0 |
| Bayerische Motoren Werke AG | COM | D12096109 |  | 6394548 | 70201 | SH |  | SOLE |  | 70201 | 0 | 0 |
| BECTON DICKINSON AND CO. | COM | 075887109 |  | 519645 | 3305 | SH |  | SOLE |  | 3305 | 0 | 0 |
| BERKSHIRE HATHAWAY INC | CL B NEW | 084670702 |  | 7639406 | 15942 | SH |  | SOLE |  | 15942 | 0 | 0 |
| BIOGEN INC. | COM | 09062X103 |  | 7984388 | 43552 | SH |  | SOLE |  | 43552 | 0 | 0 |
| BioNTech SE | SPONSORED ADS | 09075V102 |  | 284416 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| BitMine Immersion Technologies Inc | COM | 09175A206 |  | 632960 | 32000 | SH |  | SOLE |  | 32000 | 0 | 0 |
| Blackrock Inc | COM | 09290D101 |  | 3667000 | 3813 | SH |  | SOLE |  | 3813 | 0 | 0 |
| Blackstone Secured Lending Fund | COMMON STOCK | 09261X102 |  | 1254220 | 52943 | SH |  | SOLE |  | 52943 | 0 | 0 |
| Blue Owl Capital Corp | COM | 69121K104 |  | 1324114 | 119721 | SH |  | SOLE |  | 119721 | 0 | 0 |
| Blue Owl Technology Finance Corp | COM | 095924106 |  | 1046100 | 84431 | SH |  | SOLE |  | 84431 | 0 | 0 |
| BNP Paribas SA | COM | F1058Q238 |  | 886636 | 9473 | SH |  | SOLE |  | 9473 | 0 | 0 |
| Booking Holdings Inc | COM | 09857L108 |  | 3654558 | 868 | SH |  | SOLE |  | 868 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 1255000 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| BP PLC | COM | 055622104 |  | 376000 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| BP PLC | COM | G12793108 |  | 1209644 | 150820 | SH |  | SOLE |  | 150820 | 0 | 0 |
| BRISTOL MYERS SQUIBB CO | COM | 110122108 |  | 1085635 | 17900 | SH |  | SOLE |  | 17900 | 0 | 0 |
| British American Tobacco PLC | COM | G1510J102 |  | 1194027 | 20650 | SH |  | SOLE |  | 20650 | 0 | 0 |
| Broadcom Inc | COM | 11135F101 |  | 13121987 | 42396 | SH |  | SOLE |  | 42396 | 0 | 0 |
| BYD Co Ltd | COM | 05606L100 |  | 863815 | 63376 | SH |  | SOLE |  | 63376 | 0 | 0 |
| Capgemini SE | COM | F4973Q101 |  | 148664 | 1280 | SH |  | SOLE |  | 1280 | 0 | 0 |
| Capital Southwest Corp | COM | 140501107 |  | 282207 | 12758 | SH |  | SOLE |  | 12758 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 1267860 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| Caterpillar Inc | COM | 149123101 |  | 4849409 | 6845 | SH |  | SOLE |  | 6845 | 0 | 0 |
| CD PROJEKT SA | COM | X0957E106 |  | 8296817 | 130144 | SH |  | SOLE |  | 130144 | 0 | 0 |
| Cemex SAB de CV | SPON ADR NEW | 151290889 |  | 1011227 | 88394 | SH |  | SOLE |  | 88394 | 0 | 0 |
| Cencora Inc | COM | 03073E105 |  | 433827 | 1381 | SH |  | SOLE |  | 1381 | 0 | 0 |
| CEZ AS | COM | X2337V121 |  | 7160450 | 126747 | SH |  | SOLE |  | 126747 | 0 | 0 |
| CHEVRON CORP | COM | 166764100 |  | 9163601 | 44290 | SH |  | SOLE |  | 44290 | 0 | 0 |
| China Construction Bank Corp | COM | 168919108 |  | 1477667 | 67814 | SH |  | SOLE |  | 67814 | 0 | 0 |
| China Merchants Bank Co Ltd | COM | 16950T102 |  | 329805 | 10329 | SH |  | SOLE |  | 10329 | 0 | 0 |
| Chunghwa Telecom Co Ltd | SPON ADR NEW11 | 17133Q502 |  | 482761 | 11429 | SH |  | SOLE |  | 11429 | 0 | 0 |
| Cia de Minas Buenaventura SA | SPONSORED ADR | 204448104 |  | 1185932 | 32906 | SH |  | SOLE |  | 32906 | 0 | 0 |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP | SPONSORED ADR | 20441A102 |  | 2434301 | 79787 | SH |  | SOLE |  | 79787 | 0 | 0 |
| Cia Energetica de Minas Gerais | SP ADR N-V PFD | 204409601 |  | 2203685 | 922044 | SH |  | SOLE |  | 922044 | 0 | 0 |
| CIGNA CORP | COM | 125523100 |  | 1360425 | 5100 | SH |  | SOLE |  | 5100 | 0 | 0 |
| CISCO SYSTEMS INC/DELAWARE | COM | 17275R102 |  | 4800339 | 61868 | SH |  | SOLE |  | 61868 | 0 | 0 |
| Citigroup Inc | COM NEW | 172967424 |  | 6168597 | 54392 | SH |  | SOLE |  | 54392 | 0 | 0 |
| CLEAN HARBORS INC. | COM | 184496107 |  | 518981 | 1810 | SH |  | SOLE |  | 1810 | 0 | 0 |
| Coca-Cola CO/THE | COM | 191216100 |  | 7036450 | 92524 | SH |  | SOLE |  | 92524 | 0 | 0 |
| COEUR MINING INC. | COM NEW | 192108504 |  | 620780 | 33073 | SH |  | SOLE |  | 33073 | 0 | 0 |
| COLGATE - PALMOLIVE CO | COM | 194162103 |  | 4512758 | 52948 | SH |  | SOLE |  | 52948 | 0 | 0 |
| COMPAGNIE FINANCIER RICHEMONT SA | COM | H25662182 |  | 406125 | 2343 | SH |  | SOLE |  | 2343 | 0 | 0 |
| Compagnie Generale des Etablissements Michelin | COM | F61824870 |  | 980571 | 29068 | SH |  | SOLE |  | 29068 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 3254064 | 24652 | SH |  | SOLE |  | 24652 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 263483 | 2328 | SH |  | SOLE |  | 2328 | 0 | 0 |
| Constellation Energy Corp | COM | 21037T109 |  | 2941340 | 10533 | SH |  | SOLE |  | 10533 | 0 | 0 |
| COSTCO WHOLESALE CORP | COM | 22160K105 |  | 5561076 | 5581 | SH |  | SOLE |  | 5581 | 0 | 0 |
| Coursera Inc | COM | 22266M104 |  | 2072118 | 356034 | SH |  | SOLE |  | 356034 | 0 | 0 |
| Covivio SA/France | COM | F3832Y172 |  | 996090 | 16818 | SH |  | SOLE |  | 16818 | 0 | 0 |
| Crowdstrike Holdings Inc | CL A | 22788C105 |  | 447410 | 1146 | SH |  | SOLE |  | 1146 | 0 | 0 |
| CSG NV | COM | N2365Q102 |  | 20078315 | 744384 | SH |  | SOLE |  | 744384 | 0 | 0 |
| CVS Health Corp | COM | 126650100 |  | 825930 | 11500 | SH |  | SOLE |  | 11500 | 0 | 0 |
| D.R. HORTON INC. | COM | 23331A109 |  | 1605474 | 11700 | SH |  | SOLE |  | 11700 | 0 | 0 |
| Daimler Truck Holding AG | COM | D1T3RZ100 |  | 18167 | 375 | SH |  | SOLE |  | 375 | 0 | 0 |
| Danaher Corp | COM | 235851102 |  | 55932 | 295 | SH |  | SOLE |  | 295 | 0 | 0 |
| Daqo New Energy Corp | SPNSRD ADS NEW | 23703Q203 |  | 53175 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| DEERE  COMPANY | COM | 244199105 |  | 3831003 | 6801 | SH |  | SOLE |  | 6801 | 0 | 0 |
| DELL TECHNOLOGIES INC - VMware Inc | CL C | 24703L202 |  | 10643010 | 64845 | SH |  | SOLE |  | 64845 | 0 | 0 |
| Deutsche Bank AG | NAMEN AKT | D18190898 |  | 555225 | 18658 | SH |  | SOLE |  | 18658 | 0 | 0 |
| DEUTSCHE BOERSE AG | COM | D1882G119 |  | 312767 | 1071 | SH |  | SOLE |  | 1071 | 0 | 0 |
| Deutsche Telekom AG | COM | D2035M136 |  | 17330786 | 464430 | SH |  | SOLE |  | 464430 | 0 | 0 |
| DEVON ENERGY CORP. | COM | 25179M103 |  | 699448 | 13900 | SH |  | SOLE |  | 13900 | 0 | 0 |
| Diageo PLC | SPON ADR NEW | 25243Q205 |  | 361083 | 4850 | SH |  | SOLE |  | 4850 | 0 | 0 |
| Diamondback Energy Inc | COM | 25278X109 |  | 395580 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| Digital Realty Trust Inc. | COM | 253868103 |  | 2739192 | 15200 | SH |  | SOLE |  | 15200 | 0 | 0 |
| Dino Polska S.A. | COM | X188AF102 |  | 8930804 | 992960 | SH |  | SOLE |  | 992960 | 0 | 0 |
| Dominion Energy Inc | COM | 25746U109 |  | 692384 | 11200 | SH |  | SOLE |  | 11200 | 0 | 0 |
| Domino's Pizza Inc | COM | 25754A201 |  | 287032 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| DUKE ENERGY CORP | COM NEW | 26441C204 |  | 2198614 | 16791 | SH |  | SOLE |  | 16791 | 0 | 0 |
| Duoyuan Global Water Inc | COM | 266043108 |  | 0 | 10900 | SH |  | SOLE |  | 10900 | 0 | 0 |
| E.ON SE | COM | D24914133 |  | 8334522 | 377587 | SH |  | SOLE |  | 377587 | 0 | 0 |
| EBAY INC | COM | 278642103 |  | 5817726 | 63917 | SH |  | SOLE |  | 63917 | 0 | 0 |
| EDP SA | COM | X67925119 |  | 2781435 | 531889 | SH |  | SOLE |  | 531889 | 0 | 0 |
| ELDORADO GOLD CORP | COM | 284902509 |  | 260908 | 7600 | SH |  | SOLE |  | 7600 | 0 | 0 |
| Elevance Health Inc | COM | 036752103 |  | 761150 | 2600 | SH |  | SOLE |  | 2600 | 0 | 0 |
| Eli Lilly  Co | COM | 532457108 |  | 8492237 | 9233 | SH |  | SOLE |  | 9233 | 0 | 0 |
| Enbridge Inc | COM | 29250N105 |  | 1246411 | 23022 | SH |  | SOLE |  | 23022 | 0 | 0 |
| ENDESA SA | COM | E41222113 |  | 712297 | 17083 | SH |  | SOLE |  | 17083 | 0 | 0 |
| Enel SpA | COM | T3679P115 |  | 3556692 | 328281 | SH |  | SOLE |  | 328281 | 0 | 0 |
| ENGIE SA | COM | F7629A107 |  | 3548057 | 110796 | SH |  | SOLE |  | 110796 | 0 | 0 |
| ENI SPA | COM | T3643A145 |  | 4836139 | 168400 | SH |  | SOLE |  | 168400 | 0 | 0 |
| Enphase Energy Inc | COM | 29355A107 |  | 86963 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| EOG Resources INC | COM | 26875P101 |  | 1893867 | 13100 | SH |  | SOLE |  | 13100 | 0 | 0 |
| EQUINIX INC | COM | 29444U700 |  | 11533503 | 11766 | SH |  | SOLE |  | 11766 | 0 | 0 |
| EQUINOX GOLD CORP | COM | 29446Y502 |  | 144600 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| Erste Group Bank AG | COM | A19494102 |  | 22701840 | 212369 | SH |  | SOLE |  | 212369 | 0 | 0 |
| EssilorLuxottica SA | COM | F31665106 |  | 2276316 | 9928 | SH |  | SOLE |  | 9928 | 0 | 0 |
| EVERSOURCE ENERGY | COM | 30040W108 |  | 180128 | 2600 | SH |  | SOLE |  | 2600 | 0 | 0 |
| EXDS Inc | COM | 302088109 |  | 0 | 92 | SH |  | SOLE |  | 92 | 0 | 0 |
| EXELON CORP | COM | 30161N101 |  | 1549032 | 31600 | SH |  | SOLE |  | 31600 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 8092782 | 47700 | SH |  | SOLE |  | 47700 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 6658072 | 18693 | SH |  | SOLE |  | 18693 | 0 | 0 |
| FERRARI NV | COM | N3167Y103 |  | 3490486 | 10451 | SH |  | SOLE |  | 10451 | 0 | 0 |
| FIRST MAJESTIC SILVER Corp. | COM | 32076V103 |  | 584965 | 27233 | SH |  | SOLE |  | 27233 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 483879 | 2453 | SH |  | SOLE |  | 2453 | 0 | 0 |
| FirstRand Ltd | COM | S5202Z131 |  | 362039 | 71172 | SH |  | SOLE |  | 71172 | 0 | 0 |
| FORD MOTOR Company | COM | 345370860 |  | 300040 | 26000 | SH |  | SOLE |  | 26000 | 0 | 0 |
| FORTUNA SILVER MINES INC | COM NEW | 349942102 |  | 79440 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| FRANCO-NEVADA CORPORATION | COM | 351858105 |  | 1348893 | 5460 | SH |  | SOLE |  | 5460 | 0 | 0 |
| Franklin Electric Co Inc | COM | 353514102 |  | 464260 | 5037 | SH |  | SOLE |  | 5037 | 0 | 0 |
| Fresenius Medical Care AG  Co KGaA | COM | D2734Z107 |  | 408987 | 9100 | SH |  | SOLE |  | 9100 | 0 | 0 |
| Fresenius SE  Co KGaA | COM | D27348263 |  | 652534 | 12700 | SH |  | SOLE |  | 12700 | 0 | 0 |
| FS KKR Capital Corp | COM | 302635206 |  | 658137 | 64650 | SH |  | SOLE |  | 64650 | 0 | 0 |
| GAS NATURAL SDG SA | COM | E7S90S109 |  | 897948 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| GE Vernova Inc | COM | 36828A101 |  | 689591 | 790 | SH |  | SOLE |  | 790 | 0 | 0 |
| GEDEON RICHTER NYRT. | COM | X3124S107 |  | 15023077 | 422006 | SH |  | SOLE |  | 422006 | 0 | 0 |
| Gen Digital Inc | COM | 668771108 |  | 4732299 | 251317 | SH |  | SOLE |  | 251317 | 0 | 0 |
| GENERAL ELECTRIC Co | COM NEW | 369604301 |  | 3215966 | 11333 | SH |  | SOLE |  | 11333 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 7511485 | 53896 | SH |  | SOLE |  | 53896 | 0 | 0 |
| Givaudan SA | COM | 37636P108 |  | 218484 | 3222 | SH |  | SOLE |  | 3222 | 0 | 0 |
| Glaxosmithkline PLC | COM | G3910J179 |  | 1046113 | 38314 | SH |  | SOLE |  | 38314 | 0 | 0 |
| Gold Fields Ltd | COM | S31755101 |  | 415999 | 9263 | SH |  | SOLE |  | 9263 | 0 | 0 |
| Gold Fields Ltd | SPONSORED ADR | 38059T106 |  | 6698951 | 147554 | SH |  | SOLE |  | 147554 | 0 | 0 |
| Goldman Sachs BDC Inc | SHS | 38147U107 |  | 238046 | 26807 | SH |  | SOLE |  | 26807 | 0 | 0 |
| Goldman Sachs Group Inc/The | COM | 38141G104 |  | 5901627 | 6976 | SH |  | SOLE |  | 6976 | 0 | 0 |
| Golub Capital BDC Inc | COM | 38173M102 |  | 780160 | 61624 | SH |  | SOLE |  | 61624 | 0 | 0 |
| GRACO INC | COM | 384109104 |  | 248871 | 2940 | SH |  | SOLE |  | 2940 | 0 | 0 |
| GROUPE DANONE | COM | F12033134 |  | 10213662 | 128012 | SH |  | SOLE |  | 128012 | 0 | 0 |
| Groupon Inc | COM NEW | 399473206 |  | 7577669 | 636779 | SH |  | SOLE |  | 636779 | 0 | 0 |
| Grupo Financiero Banorte SAB de CV | COM | 40052P107 |  | 486384 | 8770 | SH |  | SOLE |  | 8770 | 0 | 0 |
| Halliburton Co | COM | 406216101 |  | 1949500 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| Halyk Savings Bank of Kazakhstan JSC | COM | 46627J302 |  | 17086774 | 549414 | SH |  | SOLE |  | 549414 | 0 | 0 |
| Harmony Gold Mining Co Ltd | SPONSORED ADR | 413216300 |  | 361964 | 23550 | SH |  | SOLE |  | 23550 | 0 | 0 |
| HASBRO INC. | COM | 418056107 |  | 495799 | 5297 | SH |  | SOLE |  | 5297 | 0 | 0 |
| HDFC Bank Ltd | SPONSORED ADS | 40415F101 |  | 4006899 | 161049 | SH |  | SOLE |  | 161049 | 0 | 0 |
| HEALTHCARE REALTY TRUST INC/MD | CL A COM | 42226K105 |  | 1529100 | 90000 | SH |  | SOLE |  | 90000 | 0 | 0 |
| HECLA MINING CO | COM | 422704106 |  | 839170 | 45044 | SH |  | SOLE |  | 45044 | 0 | 0 |
| HEICO Corp | COM | 422806109 |  | 484511 | 1767 | SH |  | SOLE |  | 1767 | 0 | 0 |
| Heidelberg Materials AG | COM | D31709104 |  | 61197 | 292 | SH |  | SOLE |  | 292 | 0 | 0 |
| HERMES International | COM | F48051100 |  | 4291623 | 2308 | SH |  | SOLE |  | 2308 | 0 | 0 |
| Hewlett-Packard Enterprise Co. | COM | 42824C109 |  | 1428600 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| Hive Digital Technologies Ltd | COM NEW | 433921103 |  | 2065262 | 1086980 | SH |  | SOLE |  | 1086980 | 0 | 0 |
| HOME DEPOT INC. | COM | 437076102 |  | 4732399 | 14389 | SH |  | SOLE |  | 14389 | 0 | 0 |
| Hon Hai Precision Industry Co Ltd | COM | 438090805 |  | 411600 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| Honda Motor Co Ltd | ADR ECH CNV IN 3 | 438128308 |  | 3511069 | 144429 | SH |  | SOLE |  | 144429 | 0 | 0 |
| Honeywell International Inc | COM | 438516106 |  | 1062793 | 4702 | SH |  | SOLE |  | 4702 | 0 | 0 |
| HOST HOTELS AND RESORTS INC | COM | 44107P104 |  | 1571120 | 82000 | SH |  | SOLE |  | 82000 | 0 | 0 |
| Howmet Aerospace Inc | COM | 443201108 |  | 598966 | 2599 | SH |  | SOLE |  | 2599 | 0 | 0 |
| HP Inc. | COM | 40434L105 |  | 4966150 | 258519 | SH |  | SOLE |  | 258519 | 0 | 0 |
| HSBC Holdings PLC | COM | G4634U169 |  | 2473140 | 153041 | SH |  | SOLE |  | 153041 | 0 | 0 |
| HSBC Holdings PLC | SPON ADR NEW | 404280406 |  | 5198602 | 63021 | SH |  | SOLE |  | 63021 | 0 | 0 |
| Humana Inc | COM | 444859102 |  | 173390 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| HUUUGE INC | COM | 44853H108 |  | 3638813 | 587167 | SH |  | SOLE |  | 587167 | 0 | 0 |
| IAMGOLD Corp | COM | 450913108 |  | 376400 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| Iberdrola SA | COM | E6165F166 |  | 7817606 | 342600 | SH |  | SOLE |  | 342600 | 0 | 0 |
| ICICI Bank Ltd | ADR | 45104G104 |  | 2105463 | 81292 | SH |  | SOLE |  | 81292 | 0 | 0 |
| Illumina Inc | COM | 452327109 |  | 739560 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| INDITEX SA | COM | E6282J125 |  | 7409104 | 130202 | SH |  | SOLE |  | 130202 | 0 | 0 |
| Industrial  Commercial Bank of China Ltd | COM | 455807107 |  | 974491 | 55056 | SH |  | SOLE |  | 55056 | 0 | 0 |
| INFINEON TECHNOLOGIES AG | COM | D35415104 |  | 114207 | 2532 | SH |  | SOLE |  | 2532 | 0 | 0 |
| Infosys Ltd | SPONSORED ADR | 456788108 |  | 5184949 | 383786 | SH |  | SOLE |  | 383786 | 0 | 0 |
| ING Groep NV | COM | N4578E595 |  | 5734582 | 224482 | SH |  | SOLE |  | 224482 | 0 | 0 |
| InPost SA | COM | L5125Z108 |  | 19186445 | 1100942 | SH |  | SOLE |  | 1100942 | 0 | 0 |
| Intel Corp | COM | 458140100 |  | 5216960 | 118218 | SH |  | SOLE |  | 118218 | 0 | 0 |
| International Business Machines Corp | COM | 459200101 |  | 8948312 | 36917 | SH |  | SOLE |  | 36917 | 0 | 0 |
| Intesa Sanpaolo SpA | COM | T55067101 |  | 676108 | 113359 | SH |  | SOLE |  | 113359 | 0 | 0 |
| INTUIT INC | COM | 461202103 |  | 1893824 | 4380 | SH |  | SOLE |  | 4380 | 0 | 0 |
| Intuitive Surgical Inc | COM NEW | 46120E602 |  | 652762 | 1416 | SH |  | SOLE |  | 1416 | 0 | 0 |
| Invesco QQQ Trust Series 1 | UNIT SER 1 | 46090E103 |  | 22941751 | 39748 | SH |  | SOLE |  | 39748 | 0 | 0 |
| Invesco S 500 Equal Weight ETF | S EQL WGT | 46137V357 |  | 37227874 | 193976 | SH |  | SOLE |  | 193976 | 0 | 0 |
| IQVIA Holdings Inc | COM | 46266C105 |  | 784484 | 4600 | SH |  | SOLE |  | 4600 | 0 | 0 |
| iShares Global Clean Energy ETF | GL CLEAN ENE ETF | 464288224 |  | 11321510 | 619000 | SH |  | SOLE |  | 619000 | 0 | 0 |
| iShares MSCI ACWI ETF | MSCI ACWI ETF | 464288257 |  | 1597482 | 11545 | SH |  | SOLE |  | 11545 | 0 | 0 |
| iShares Nasdaq Biotechnology Index Fund | ISHARES BIOTECH | 464287556 |  | 19606018 | 116115 | SH |  | SOLE |  | 116115 | 0 | 0 |
| iShares S 500 Index FUND/USA | CORE S ETF | 464287200 |  | 17636670 | 27000 | SH |  | SOLE |  | 27000 | 0 | 0 |
| ITAU UNIBANCO HOLDING S.A. | SPON ADR REP PFD | 465562106 |  | 1565727 | 186841 | SH |  | SOLE |  | 186841 | 0 | 0 |
| JD.com Inc | SPON ADS CL A | 47215P106 |  | 813944 | 27526 | SH |  | SOLE |  | 27526 | 0 | 0 |
| Jeronimo Martins SGPS SA | COM | X40338109 |  | 1631135 | 68650 | SH |  | SOLE |  | 68650 | 0 | 0 |
| Johnson  Johnson | COM | 478160104 |  | 4291389 | 17556 | SH |  | SOLE |  | 17556 | 0 | 0 |
| JPMorgan Chase  Co | COM | 46625H100 |  | 12285592 | 41765 | SH |  | SOLE |  | 41765 | 0 | 0 |
| K92 MINING INC | COM | 499113108 |  | 135520 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| Kaspi.KZ JSC | SPONSORED ADS | 48581R205 |  | 13893162 | 187568 | SH |  | SOLE |  | 187568 | 0 | 0 |
| Kayne Anderson BDC Inc | COM SHS | 48662X105 |  | 217256 | 15835 | SH |  | SOLE |  | 15835 | 0 | 0 |
| KB Financial Group Inc | SPONSORED ADR | 48241A105 |  | 2391825 | 23983 | SH |  | SOLE |  | 23983 | 0 | 0 |
| KB HOME | COM | 48666K109 |  | 1474875 | 28500 | SH |  | SOLE |  | 28500 | 0 | 0 |
| KERING | COM | F5433L103 |  | 5892293 | 19870 | SH |  | SOLE |  | 19870 | 0 | 0 |
| Keysight Technologies Inc | COM | 49338L103 |  | 516737 | 1830 | SH |  | SOLE |  | 1830 | 0 | 0 |
| KGHM POLSKA MIEDZ S.A. | COM | X45213109 |  | 18482846 | 256049 | SH |  | SOLE |  | 256049 | 0 | 0 |
| KIMCO REALTY CORP. | COM | 49446R109 |  | 1804341 | 80300 | SH |  | SOLE |  | 80300 | 0 | 0 |
| KINDER MORGAN INC. | COM | 49456B101 |  | 1145385 | 34160 | SH |  | SOLE |  | 34160 | 0 | 0 |
| KINGSPAN GROUP PLC | COM | G52654103 |  | 333292 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| KINROSS GOLD CORP | COM | 496902404 |  | 1457635 | 47760 | SH |  | SOLE |  | 47760 | 0 | 0 |
| KOMERCNI BANKA A.S. | COM | X45471111 |  | 19481839 | 383519 | SH |  | SOLE |  | 383519 | 0 | 0 |
| Koninklijke Philips NV | COM | N7637U112 |  | 7266611 | 269402 | SH |  | SOLE |  | 269402 | 0 | 0 |
| Korea Electric Power Corp | SPONSORED ADR | 500631106 |  | 487350 | 34200 | SH |  | SOLE |  | 34200 | 0 | 0 |
| KRAFT HEINZ CO. | COM | 500754106 |  | 4823138 | 214457 | SH |  | SOLE |  | 214457 | 0 | 0 |
| Kratos Defense  Security Solutions Inc | COM | 50077B207 |  | 477635 | 6774 | SH |  | SOLE |  | 6774 | 0 | 0 |
| Kroger Co/The | COM | 501044101 |  | 180900 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| KT Corp | SPONSORED ADR | 48268K101 |  | 493350 | 23000 | SH |  | SOLE |  | 23000 | 0 | 0 |
| Lam Research Corp | COM | 512807306 |  | 814899 | 3814 | SH |  | SOLE |  | 3814 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 347360 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| Leonardo SpA | COM | T6S996112 |  | 2985206 | 44506 | SH |  | SOLE |  | 44506 | 0 | 0 |
| LG Display Co Ltd | SPONS ADR REP | 50186V102 |  | 317143 | 81738 | SH |  | SOLE |  | 81738 | 0 | 0 |
| Linde PLC | SHS | G54950103 |  | 626145 | 1263 | SH |  | SOLE |  | 1263 | 0 | 0 |
| Lloyds Banking Group PLC | COM | G5533W248 |  | 1308855 | 1071462 | SH |  | SOLE |  | 1071462 | 0 | 0 |
| London Stock Exchange Group PLC | COM | G5689U103 |  | 8264634 | 70478 | SH |  | SOLE |  | 70478 | 0 | 0 |
| LOREAL SA | COM | F58149133 |  | 4404687 | 10910 | SH |  | SOLE |  | 10910 | 0 | 0 |
| LOWES COMPANIES INC. | COM | 548661107 |  | 3066678 | 12979 | SH |  | SOLE |  | 12979 | 0 | 0 |
| LPP S.A. | COM | X5053G103 |  | 19443986 | 3236 | SH |  | SOLE |  | 3236 | 0 | 0 |
| Lululemon Athletica Inc | COM | 550021109 |  | 122021 | 797 | SH |  | SOLE |  | 797 | 0 | 0 |
| LVMH Moet Hennessy Louis Vuitton SE | COM | F58485115 |  | 9357723 | 17485 | SH |  | SOLE |  | 17485 | 0 | 0 |
| Main Street Capital Corp | COM | 56035L104 |  | 1100774 | 20785 | SH |  | SOLE |  | 20785 | 0 | 0 |
| MARA Holdings Inc | COM | 565788106 |  | 1446229 | 177234 | SH |  | SOLE |  | 177234 | 0 | 0 |
| Marathon Petroleum Corp | COM | 56585A102 |  | 3880997 | 15894 | SH |  | SOLE |  | 15894 | 0 | 0 |
| Markel Corp | COM | 570535104 |  | 622072 | 325 | SH |  | SOLE |  | 325 | 0 | 0 |
| Marsh  McLennan Cos Inc | COM | 571748102 |  | 760231 | 4383 | SH |  | SOLE |  | 4383 | 0 | 0 |
| Marvell Technology Inc | COM | 573874104 |  | 524965 | 5300 | SH |  | SOLE |  | 5300 | 0 | 0 |
| MASTERCARD INC. | CL A | 57636Q104 |  | 8031533 | 16074 | SH |  | SOLE |  | 16074 | 0 | 0 |
| mBank SA | COM | X521A6104 |  | 3072159 | 10562 | SH |  | SOLE |  | 10562 | 0 | 0 |
| McDonald's Corp | COM | 580135101 |  | 8666067 | 27884 | SH |  | SOLE |  | 27884 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 961815 | 11100 | SH |  | SOLE |  | 11100 | 0 | 0 |
| Meituan | COM | 58533E103 |  | 786892 | 35964 | SH |  | SOLE |  | 35964 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 4173853 | 2414 | SH |  | SOLE |  | 2414 | 0 | 0 |
| Mercedes-Benz Group AG | COM | D1668R123 |  | 2238320 | 36544 | SH |  | SOLE |  | 36544 | 0 | 0 |
| Merck  CO. INC. | COM | 58933Y105 |  | 3563591 | 29625 | SH |  | SOLE |  | 29625 | 0 | 0 |
| MERCK KGAA | COM | D5357W103 |  | 778684 | 6236 | SH |  | SOLE |  | 6236 | 0 | 0 |
| META PLATFORMS INC. | CL A | 30303M102 |  | 8874881 | 15512 | SH |  | SOLE |  | 15512 | 0 | 0 |
| Mettler-Toledo International Inc | COM | 592688105 |  | 580152 | 460 | SH |  | SOLE |  | 460 | 0 | 0 |
| MFE-MediaForEurope NV | COM | N5673Q128 |  | 256217 | 85800 | SH |  | SOLE |  | 85800 | 0 | 0 |
| Micron Technology Inc | COM | 595112103 |  | 2387178 | 7066 | SH |  | SOLE |  | 7066 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 20131325 | 54384 | SH |  | SOLE |  | 54384 | 0 | 0 |
| MidCap Financial Investment Corp | COM | 03761U502 |  | 250438 | 22281 | SH |  | SOLE |  | 22281 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 645160 | 12700 | SH |  | SOLE |  | 12700 | 0 | 0 |
| MOL Hungarian Oil  Gas PLC | COM | X5S32S129 |  | 6799017 | 571619 | SH |  | SOLE |  | 571619 | 0 | 0 |
| Moneta Money Bank AS | COM | X3R0GS100 |  | 96245800 | 11074581 | SH |  | SOLE |  | 11074581 | 0 | 0 |
| Monster Beverage Corp | COM | 61174X109 |  | 3741762 | 51639 | SH |  | SOLE |  | 51639 | 0 | 0 |
| Morgan Stanley | COM NEW | 617446448 |  | 5624014 | 34174 | SH |  | SOLE |  | 34174 | 0 | 0 |
| Morgan Stanley Direct Lending Fund | COM | 61774A103 |  | 289279 | 20722 | SH |  | SOLE |  | 20722 | 0 | 0 |
| Motorola Solutions Inc | COM | 620076307 |  | 428762 | 988 | SH |  | SOLE |  | 988 | 0 | 0 |
| MSCI INC | COM | 55354G100 |  | 727664 | 1350 | SH |  | SOLE |  | 1350 | 0 | 0 |
| NAC Kazatomprom JSC | COM | 63253R201 |  | 15314442 | 196339 | SH |  | SOLE |  | 196339 | 0 | 0 |
| Nasdaq Inc | COM | 631103108 |  | 1876154 | 22101 | SH |  | SOLE |  | 22101 | 0 | 0 |
| Naspers Ltd | COM | 631512209 |  | 793440 | 76000 | SH |  | SOLE |  | 76000 | 0 | 0 |
| Naspers Ltd | COM | S53435129 |  | 582311 | 11440 | SH |  | SOLE |  | 11440 | 0 | 0 |
| National Grid PLC | COM | G6S9A7120 |  | 868623 | 51723 | SH |  | SOLE |  | 51723 | 0 | 0 |
| NatWest Group PLC | COM | G6422B147 |  | 267378 | 36537 | SH |  | SOLE |  | 36537 | 0 | 0 |
| Neste Oyj | COM | X5688A109 |  | 3231555 | 100046 | SH |  | SOLE |  | 100046 | 0 | 0 |
| Nestle SA | COM | 641069406 |  | 3682556 | 37160 | SH |  | SOLE |  | 37160 | 0 | 0 |
| Nestle SA | COM | H57312649 |  | 2207346 | 22499 | SH |  | SOLE |  | 22499 | 0 | 0 |
| NetEase Inc | SPONSORED ADS | 64110W102 |  | 1035557 | 9251 | SH |  | SOLE |  | 9251 | 0 | 0 |
| NETFLIX INC. | COM | 64110L106 |  | 6201868 | 64502 | SH |  | SOLE |  | 64502 | 0 | 0 |
| New Mountain Finance Corp | COM | 647551100 |  | 195948 | 25251 | SH |  | SOLE |  | 25251 | 0 | 0 |
| Newmont Corp | COM | 651639106 |  | 3301191 | 30496 | SH |  | SOLE |  | 30496 | 0 | 0 |
| NEXTERA ENERGY INC. | COM | 65339F101 |  | 2002214 | 21557 | SH |  | SOLE |  | 21557 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 3038893 | 57533 | SH |  | SOLE |  | 57533 | 0 | 0 |
| Nintendo Co Ltd | COM | 654445303 |  | 2572200 | 180000 | SH |  | SOLE |  | 180000 | 0 | 0 |
| Nomura Holdings Inc | SPONSORED ADR | 65535H208 |  | 311655 | 39500 | SH |  | SOLE |  | 39500 | 0 | 0 |
| Novartis AG | COM | H5820Q150 |  | 2579090 | 17057 | SH |  | SOLE |  | 17057 | 0 | 0 |
| Novartis AG | SPONSORED ADR | 66987V109 |  | 1833000 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| NOVO NORDISK A/S-B | ADR | 670100205 |  | 639928 | 17413 | SH |  | SOLE |  | 17413 | 0 | 0 |
| NOVO NORDISK A/S-B | COM | K72807140 |  | 1082642 | 30319 | SH |  | SOLE |  | 30319 | 0 | 0 |
| Nvidia Corp | COM | 67066G104 |  | 21434108 | 122902 | SH |  | SOLE |  | 122902 | 0 | 0 |
| Oaktree Specialty Lending Corp | COM | 67401P405 |  | 226520 | 20046 | SH |  | SOLE |  | 20046 | 0 | 0 |
| Occidental Petroleum Corp | COM | 674599105 |  | 1014000 | 15600 | SH |  | SOLE |  | 15600 | 0 | 0 |
| OceanaGold Corp | COM | 675222400 |  | 209646 | 6666 | SH |  | SOLE |  | 6666 | 0 | 0 |
| OMV AG | COM | A51460110 |  | 30617623 | 419204 | SH |  | SOLE |  | 419204 | 0 | 0 |
| Oracle Corp | COM | 68389X105 |  | 2991041 | 20332 | SH |  | SOLE |  | 20332 | 0 | 0 |
| ORANGE | COM | F6866T100 |  | 284086 | 13908 | SH |  | SOLE |  | 13908 | 0 | 0 |
| ORMAT TECHNOLOGIES INC | COM | 686688102 |  | 301065 | 2690 | SH |  | SOLE |  | 2690 | 0 | 0 |
| OTP Bank Nyrt | COM | X60746181 |  | 33709398 | 316521 | SH |  | SOLE |  | 316521 | 0 | 0 |
| Palantir Technologies Inc | CL A | 69608A108 |  | 1719961 | 11758 | SH |  | SOLE |  | 11758 | 0 | 0 |
| Palo Alto Networks Inc | COM | 697435105 |  | 833824 | 5201 | SH |  | SOLE |  | 5201 | 0 | 0 |
| PAN AMERICAN SILVER CORP | COM | 697900108 |  | 807268 | 14777 | SH |  | SOLE |  | 14777 | 0 | 0 |
| PAYPAL HOLDINGS INC. | COM | 70450Y103 |  | 3258099 | 72034 | SH |  | SOLE |  | 72034 | 0 | 0 |
| PDD Holdings Inc | SPONSORED ADS | 722304102 |  | 80313 | 786 | SH |  | SOLE |  | 786 | 0 | 0 |
| PENTAIR PLC | SHS | G7S00T104 |  | 395479 | 4540 | SH |  | SOLE |  | 4540 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 10611121 | 68331 | SH |  | SOLE |  | 68331 | 0 | 0 |
| Petroleo Brasileiro SA | SPONSORED ADR | 71654V408 |  | 2294950 | 110600 | SH |  | SOLE |  | 110600 | 0 | 0 |
| Pfizer Inc | COM | 717081103 |  | 3022756 | 107648 | SH |  | SOLE |  | 107648 | 0 | 0 |
| Philip Morris International Inc | COM | 718172109 |  | 5195644 | 31424 | SH |  | SOLE |  | 31424 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 2681690 | 14720 | SH |  | SOLE |  | 14720 | 0 | 0 |
| PLUG POWER INC. | COM NEW | 72919P202 |  | 295619 | 130805 | SH |  | SOLE |  | 130805 | 0 | 0 |
| Polski Koncern Naftowy Orlen SA | COM | X6922W204 |  | 7007725 | 193596 | SH |  | SOLE |  | 193596 | 0 | 0 |
| PORSCHE AUTOMOBIL HOLDING SE | COM | D6240C122 |  | 2476808 | 68233 | SH |  | SOLE |  | 68233 | 0 | 0 |
| POSCO Holdings Inc | SPONSORED ADR | 693483109 |  | 321695 | 5500 | SH |  | SOLE |  | 5500 | 0 | 0 |
| Powszechna Kasa Oszczednosci Bank Polski SA | COM | X6919X108 |  | 43197134 | 1845707 | SH |  | SOLE |  | 1845707 | 0 | 0 |
| PROCTER  GAMBLE Co | COM | 742718109 |  | 5397433 | 37368 | SH |  | SOLE |  | 37368 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 3833220 | 29000 | SH |  | SOLE |  | 29000 | 0 | 0 |
| Prospect Capital Corp | COM | 74348T102 |  | 264221 | 101234 | SH |  | SOLE |  | 101234 | 0 | 0 |
| Prosus NV | COM | N7163R103 |  | 1329170 | 29506 | SH |  | SOLE |  | 29506 | 0 | 0 |
| Prysmian SpA | COM | T7630L105 |  | 1956285 | 17137 | SH |  | SOLE |  | 17137 | 0 | 0 |
| PUBLIC STORAGE | COM | 74460D109 |  | 1990968 | 7350 | SH |  | SOLE |  | 7350 | 0 | 0 |
| PULTEGROUP INC. | COM | 745867101 |  | 2352200 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| PZU | COM | X6919T107 |  | 20232155 | 1172149 | SH |  | SOLE |  | 1172149 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 2833160 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 1175880 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| Raiffeisen Bank International AG | COM | A7111G104 |  | 2265184 | 53908 | SH |  | SOLE |  | 53908 | 0 | 0 |
| REGENERON PHARMACEUTICALS INC. | COM | 75886F107 |  | 1676629 | 2170 | SH |  | SOLE |  | 2170 | 0 | 0 |
| Reliance Industries Ltd | COM | 759470107 |  | 1555744 | 26777 | SH |  | SOLE |  | 26777 | 0 | 0 |
| REPSOL YPF SA | COM | E8471S130 |  | 3729719 | 130927 | SH |  | SOLE |  | 130927 | 0 | 0 |
| REPUBLIC SERVICES INC | COM | 760759100 |  | 1403918 | 6410 | SH |  | SOLE |  | 6410 | 0 | 0 |
| Rheinmetall AG | COM | D65111102 |  | 4255849 | 2538 | SH |  | SOLE |  | 2538 | 0 | 0 |
| Rio Tinto PLC | COM | G75754104 |  | 82679 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| Roche Holding AG | COM | 771195104 |  | 447390 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| Roche Holding AG | COM | H69293266 |  | 2644555 | 6717 | SH |  | SOLE |  | 6717 | 0 | 0 |
| Rolls-Royce Holdings PLC | COM | G76225104 |  | 1823587 | 121778 | SH |  | SOLE |  | 121778 | 0 | 0 |
| ROYAL BANK OF CANADA | COM | 780087102 |  | 1873089 | 11578 | SH |  | SOLE |  | 11578 | 0 | 0 |
| ROYAL GOLD Inc. | COM | 780287108 |  | 636225 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 1924178 | 9975 | SH |  | SOLE |  | 9975 | 0 | 0 |
| RWE AG | COM | D6629K109 |  | 9429259 | 140482 | SH |  | SOLE |  | 140482 | 0 | 0 |
| Safran SA | COM | F4035A557 |  | 1608954 | 4983 | SH |  | SOLE |  | 4983 | 0 | 0 |
| SALESFORCE.COM INC. | COM | 79466L302 |  | 2884985 | 15455 | SH |  | SOLE |  | 15455 | 0 | 0 |
| Samsung Electronics Co Ltd | COM | 796050888 |  | 14857804 | 5239 | SH |  | SOLE |  | 5239 | 0 | 0 |
| Samsung SDI Co Ltd | COM | 796054203 |  | 211383 | 3069 | SH |  | SOLE |  | 3069 | 0 | 0 |
| Sandisk Corp/DE | COM | 80004C200 |  | 492388 | 775 | SH |  | SOLE |  | 775 | 0 | 0 |
| Sanofi SA | COM | F5548N101 |  | 2750774 | 28775 | SH |  | SOLE |  | 28775 | 0 | 0 |
| Santander Bank Polska SA | COM | X0646L107 |  | 24781246 | 157755 | SH |  | SOLE |  | 157755 | 0 | 0 |
| SAP SE | COM | D66992104 |  | 11571971 | 67548 | SH |  | SOLE |  | 67548 | 0 | 0 |
| Sarepta Therapeutics Inc | COM | 803607100 |  | 3553190 | 163290 | SH |  | SOLE |  | 163290 | 0 | 0 |
| Sasol Ltd | SPONSORED ADR | 803866300 |  | 116640 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| Schlumberger NV | COM STK | 806857108 |  | 1578701 | 30720 | SH |  | SOLE |  | 30720 | 0 | 0 |
| SCHNEIDER ELECTRIC SA | COM | F86921107 |  | 7554166 | 28532 | SH |  | SOLE |  | 28532 | 0 | 0 |
| SCIENT INC. | COM | 808649305 |  | 0 | 18 | SH |  | SOLE |  | 18 | 0 | 0 |
| ServiceNow Inc | COM | 81762P102 |  | 3135455 | 29990 | SH |  | SOLE |  | 29990 | 0 | 0 |
| SHARPLINK INC | COM | 820014405 |  | 154490 | 23952 | SH |  | SOLE |  | 23952 | 0 | 0 |
| Shell PLC | COM | G80827101 |  | 47401 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| Shopify Inc | COM | 82509L107 |  | 2298025 | 19373 | SH |  | SOLE |  | 19373 | 0 | 0 |
| SIEMENS AG | COM | D69671218 |  | 13907925 | 56861 | SH |  | SOLE |  | 56861 | 0 | 0 |
| Siemens Energy AG | COM | D6T47E106 |  | 2951336 | 17462 | SH |  | SOLE |  | 17462 | 0 | 0 |
| SIMON PROPERTY GROUP INC | COM | 828806109 |  | 4495746 | 24102 | SH |  | SOLE |  | 24102 | 0 | 0 |
| Sixth Street Specialty Lending Inc | COM | 83012A109 |  | 390299 | 21235 | SH |  | SOLE |  | 21235 | 0 | 0 |
| SK Hynix Inc | COM | 78392B107 |  | 8500107 | 14422 | SH |  | SOLE |  | 14422 | 0 | 0 |
| SK Telecom Co Ltd | SPONSORED ADR | 78440P306 |  | 156526 | 5344 | SH |  | SOLE |  | 5344 | 0 | 0 |
| Societe Generale SA | COM | F8591M517 |  | 1391783 | 19500 | SH |  | SOLE |  | 19500 | 0 | 0 |
| SoftBank Group Corp | COM | 83404D109 |  | 525021 | 43426 | SH |  | SOLE |  | 43426 | 0 | 0 |
| SolarEdge Technologies Inc | COM | 83417M104 |  | 86274 | 1690 | SH |  | SOLE |  | 1690 | 0 | 0 |
| Sony Financial Group Inc | COM | 83571B100 |  | 131467 | 29150 | SH |  | SOLE |  | 29150 | 0 | 0 |
| Sony Group Corp | SPONSORED ADR | 835699307 |  | 5984723 | 289117 | SH |  | SOLE |  | 289117 | 0 | 0 |
| Southern Co | COM | 842587107 |  | 1582928 | 16400 | SH |  | SOLE |  | 16400 | 0 | 0 |
| Southern Copper Corp | COM | 84265V105 |  | 1567467 | 9110 | SH |  | SOLE |  | 9110 | 0 | 0 |
| Spectrum Brands Holdings Inc | COM | 84790A105 |  | 5524257 | 74956 | SH |  | SOLE |  | 74956 | 0 | 0 |
| Spotify Technology SA | SHS | L8681T102 |  | 3169372 | 6536 | SH |  | SOLE |  | 6536 | 0 | 0 |
| STARBUCKS CORP. | COM | 855244109 |  | 3281861 | 36632 | SH |  | SOLE |  | 36632 | 0 | 0 |
| State Street SPDR S 500 ETF Trust | TR UNIT | 78462F103 |  | 51461404 | 79130 | SH |  | SOLE |  | 79130 | 0 | 0 |
| Sumitomo Mitsui Financial Group Inc | SPONSORED ADR | 86562M209 |  | 391050 | 19800 | SH |  | SOLE |  | 19800 | 0 | 0 |
| Taiwan Semiconductor Manufacturing Co Ltd | SPONSORED ADS | 874039100 |  | 8653209 | 25605 | SH |  | SOLE |  | 25605 | 0 | 0 |
| Takeda Pharmaceutical Co Ltd | SPONSORED ADS | 874060205 |  | 185200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| Tata Motors Ltd /new | COM | Y8T4YR100 |  | 2183133 | 520000 | SH |  | SOLE |  | 520000 | 0 | 0 |
| Tata Motors Passenger Vehicles | COM | Y85740267 |  | 348150 | 110500 | SH |  | SOLE |  | 110500 | 0 | 0 |
| Telefonica SA | COM | 879382109 |  | 5796312 | 1321630 | SH |  | SOLE |  | 1321630 | 0 | 0 |
| Telkom Indonesia Persero Tbk PT | SPONSORED ADR | 715684106 |  | 231632 | 12400 | SH |  | SOLE |  | 12400 | 0 | 0 |
| Tencent Holdings Ltd | COM | 88032Q109 |  | 3291486 | 52064 | SH |  | SOLE |  | 52064 | 0 | 0 |
| Terna - Rete Elettrica Nazionale | COM | T9471R100 |  | 2090401 | 183378 | SH |  | SOLE |  | 183378 | 0 | 0 |
| TESCO PLC | COM | G8T67X102 |  | 301061 | 48105 | SH |  | SOLE |  | 48105 | 0 | 0 |
| TESLA MOTORS INC. | COM | 88160R101 |  | 5926068 | 15941 | SH |  | SOLE |  | 15941 | 0 | 0 |
| Teva Pharmaceutical Industries Ltd | SPONSORED ADS | 881624209 |  | 614448 | 20400 | SH |  | SOLE |  | 20400 | 0 | 0 |
| TEXAS INSTRUMENTS INC | COM | 882508104 |  | 5469700 | 28174 | SH |  | SOLE |  | 28174 | 0 | 0 |
| THALES SA | COM | F9156M108 |  | 7474955 | 25657 | SH |  | SOLE |  | 25657 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC. | COM | 883556102 |  | 1639253 | 3335 | SH |  | SOLE |  | 3335 | 0 | 0 |
| TOLL BROTHERS INC | COM | 889478103 |  | 1364700 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| TOTALENERGIES SE | COM | F92124100 |  | 12252533 | 131037 | SH |  | SOLE |  | 131037 | 0 | 0 |
| Toyota Motor Corp | ADS | 892331307 |  | 5245815 | 25454 | SH |  | SOLE |  | 25454 | 0 | 0 |
| TransDigm Group Inc | COM | 893641100 |  | 637428 | 550 | SH |  | SOLE |  | 550 | 0 | 0 |
| Trip.com Group Ltd | ADS | 89677Q107 |  | 391499 | 7863 | SH |  | SOLE |  | 7863 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 3835811 | 53327 | SH |  | SOLE |  | 53327 | 0 | 0 |
| UBS Group AG | COM | H42097107 |  | 1109764 | 28866 | SH |  | SOLE |  | 28866 | 0 | 0 |
| UCB SA | COM | B93562120 |  | 2485502 | 8320 | SH |  | SOLE |  | 8320 | 0 | 0 |
| UniCredit SpA | COM | T9T23L642 |  | 884928 | 12582 | SH |  | SOLE |  | 12582 | 0 | 0 |
| Unilever PLC | COM | G92087348 |  | 973513 | 17526 | SH |  | SOLE |  | 17526 | 0 | 0 |
| United Microelectronics Corp | SPON ADR NEW | 910873405 |  | 910706 | 101415 | SH |  | SOLE |  | 101415 | 0 | 0 |
| United Parcel Service Inc | CL B | 911312106 |  | 3706565 | 37676 | SH |  | SOLE |  | 37676 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 4326464 | 15989 | SH |  | SOLE |  | 15989 | 0 | 0 |
| Vale SA | COM | 91912E105 |  | 391386 | 24600 | SH |  | SOLE |  | 24600 | 0 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 4262130 | 17250 | SH |  | SOLE |  | 17250 | 0 | 0 |
| Vanguard FTSE Emerging Markets ETF | FTSE EMR MKT ETF | 922042858 |  | 13498880 | 249748 | SH |  | SOLE |  | 249748 | 0 | 0 |
| Vault Minerals Ltd | COM | Q80507348 |  | 60829 | 21132 | SH |  | SOLE |  | 21132 | 0 | 0 |
| Veolia Environnement SA | COM | F9686M107 |  | 1499787 | 39736 | SH |  | SOLE |  | 39736 | 0 | 0 |
| VERBUND AG | COM | A91460104 |  | 5172884 | 68182 | SH |  | SOLE |  | 68182 | 0 | 0 |
| VERIZON COMMUNICATION INC. | COM | 92343V104 |  | 7313135 | 145680 | SH |  | SOLE |  | 145680 | 0 | 0 |
| Vertex Pharmaceuticals Inc | COM | 92532F100 |  | 4732878 | 10599 | SH |  | SOLE |  | 10599 | 0 | 0 |
| Viatris Inc | COM | 92556V106 |  | 675608 | 50008 | SH |  | SOLE |  | 50008 | 0 | 0 |
| VINCI SA | COM | F5879X108 |  | 2774776 | 18707 | SH |  | SOLE |  | 18707 | 0 | 0 |
| VISA INC. | COM CL A | 92826C839 |  | 9231317 | 30543 | SH |  | SOLE |  | 30543 | 0 | 0 |
| VOLKSWAGEN AG | COM | D94523103 |  | 202562 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| Vonovia SE | COM | D9581T100 |  | 13200530 | 522052 | SH |  | SOLE |  | 522052 | 0 | 0 |
| Wabtec Corp | COM | 929740108 |  | 250 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| Wal-Mart de Mexico SAB de CV | COM | 93114W107 |  | 282100 | 8672 | SH |  | SOLE |  | 8672 | 0 | 0 |
| Walmart Inc | COM | 931142103 |  | 5181855 | 41695 | SH |  | SOLE |  | 41695 | 0 | 0 |
| Walt Disney Co/The | COM | 254687106 |  | 9740162 | 101060 | SH |  | SOLE |  | 101060 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 10270 | 374 | SH |  | SOLE |  | 374 | 0 | 0 |
| WASTE CONNECTIONS LTD. | COM | 94106B101 |  | 868404 | 5346 | SH |  | SOLE |  | 5346 | 0 | 0 |
| WASTE MANAGEMENT INC | COM | 94106L109 |  | 907441 | 3949 | SH |  | SOLE |  | 3949 | 0 | 0 |
| Waters Corp | COM | 941848103 |  | 133117 | 447 | SH |  | SOLE |  | 447 | 0 | 0 |
| WELLS FARGO  CO | COM | 949746101 |  | 4578928 | 57517 | SH |  | SOLE |  | 57517 | 0 | 0 |
| Welltower OP LLC | COM | 95040Q104 |  | 6247636 | 31600 | SH |  | SOLE |  | 31600 | 0 | 0 |
| Wheaton Precious Metals Corp | COM | 962879102 |  | 2233458 | 17048 | SH |  | SOLE |  | 17048 | 0 | 0 |
| Williams Cos Inc/The | COM | 969457100 |  | 960696 | 13200 | SH |  | SOLE |  | 13200 | 0 | 0 |
| XYLEM INC | COM | 98419M100 |  | 950025 | 7950 | SH |  | SOLE |  | 7950 | 0 | 0 |
| YUM CHINA HOLDINGS INC. | COM | 98850P109 |  | 320826 | 6577 | SH |  | SOLE |  | 6577 | 0 | 0 |
| Yum! Brands Inc | COM | 988498101 |  | 2668659 | 17164 | SH |  | SOLE |  | 17164 | 0 | 0 |
| Zabka Group SA | COM | L98969105 |  | 1583324 | 265890 | SH |  | SOLE |  | 265890 | 0 | 0 |
| Zijin Gold International Co Ltd | COM | Y990DL104 |  | 1266 | 57 | SH |  | SOLE |  | 57 | 0 | 0 |
| Zimmer Biomet  Holdings  Inc | COM | 98956P102 |  | 551562 | 6100 | SH |  | SOLE |  | 6100 | 0 | 0 |

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