VCESX Holdings List

As of Mar 31, 2025

No.	Symbol	Name	% Weight	Shares
1	BCG	Binah Capital Group, Inc.	7.87%	5,482,358
2	GPP	Grupa Pracuj SA/Poland	6.12%	1,104,803
3	CXSE3	Caixa Seguridade Participacoes S/A	4.50%	4,637,048
4	RMV	Rightmove PLC	4.31%	1,310,876
5	HEIM	Heineken Malaysia Bhd	4.02%	1,806,300
6	200596	Anhui Gujing Distillery Co Ltd	3.51%	604,209
7	TGMA3	Tegma Gestao Logistica SA	3.44%	1,589,562
8	1882	HAITIAN INT'L - Haitian International Holdings Ltd	3.44%	3,507,218
9	TOTS3	TOTVS SA	3.42%	1,574,823
10	058470	LEENO Industrial Inc	3.04%	63,376
11	ALE	ALLETE, Inc.	2.97%	991,468
12	HPAR	Haw Par Corp Ltd	2.95%	812,774
13	BZ	Kanzhun Limited	2.93%	413,941
14	AUCTF	Union Auction PCL	2.62%	31,854,400
15	CAB	Carlsberg Brewery Malaysia Bhd	2.51%	1,580,100
16	Q*	Qualitas Controladora SAB de CV	2.51%	782,013
17	CMOCTEZ*	Corp Moctezuma SAB de CV	2.48%	1,670,560
18	030190	NICE Information Service Co Ltd	2.45%	836,707
19	DGCXX	Dreyfus Government Cash Management Fund	2.24%	6,063,855
20	012750	S-1 Corp	2.17%	133,684
21	80TE	Kaspi.KZ JSC	2.07%	61,759
22	OPTIMA	Optima bank SA	1.80%	293,117
23	TOWR	Sarana Menara Nusantara Tbk PT	1.77%	157,623,486
24	600570	Hundsun Technologies Inc	1.69%	1,179,085
25	6409	Voltronic Power Technology Corp	1.64%	95,000
26	ATHM	Autohome Inc.	1.50%	147,020
27	5287	Addcn Technology Co Ltd	1.47%	724,324
28	6146	Sporton International Inc	1.35%	622,268
29	GGPS3	GPS Participacoes e Empreendimentos SA	1.33%	1,570,068
30	TBBB	BBB Foods Inc.	1.30%	132,109
31	CAMS	Computer Age Management Services Ltd	1.30%	81,403
32	HUMANF	Humanica PCL	1.28%	14,677,100
33	MTEL	Dayamitra Telekomunikasi PT	1.18%	93,884,400
34	143240	Saramin Co Ltd	1.15%	308,924
35	CLS	Celestica Inc.	1.13%	164,601
36	600132	Chongqing Brewery Co Ltd	1.03%	346,300
37	8454	momo.com Inc	0.99%	254,515
38	OFSS	Oracle Financial Services Software Ltd	0.82%	24,358
39	AVIA	Avia Avian Tbk PT	0.74%	82,047,660
40	2608	Kerry TJ Logistics Co Ltd	0.69%	1,642,000
41	KFINTECH	Kfin Technologies Ltd	0.48%	108,224
42	KSPI	Joint Stock Company Kaspi.kz	0.28%	8,224
43	WPL	Wirtualna Polska Holding SA	0.10%	13,126

As of Mar 31, 2025

Asset Allocation

Asset Class	% Weight
Stocks	96.86%
Cash	3.14%

Sector Breakdown

Sector	% Weight
Industrials	25.39%
Other	17.98%
Information Technology	13.58%
Communication Services	13.49%
Consumer Staples	9.44%
Financials	5.25%
Materials	4.41%
Energy	3.47%
Consumer Discretionary	3.15%
Health Care	2.46%
Utilities	1.38%

Country Breakdown

Sector	% Weight
Brazil	16.09%
India	12.25%
Korea	11.97%
China	9.58%
Taiwan	7.52%
United States	7.17%
Malaysia	6.55%
Indonesia	5.69%
Thailand	5.48%
Mexico	4.56%
United Kingdom	3.81%
Poland	2.83%
Singapore	2.46%
South Africa	1.59%
Viet Nam	1.30%
Switzerland	1.15%