Guy Spier

Holdings

Valued at quarter-end prices. Change is against the previous quarter's filing.

#	Company	Weight	Value	Shares	Change	Since quarter end
1	bbdBank Bradesco	36.1%	$649.02M	187M	+19%	-26.5%
2	ypfYPF Sociedad Anonima	31.5%	$565.87M	12M	+38%	+3.4%
3	ggalGrupo Financiero Galicia	9.8%	$175.88M	4M	+49%	-35.4%
4	nuNu	6.7%	$119.94M	9M	+798%	-13.1%
5	bmaMacro Bank	4.3%	$78.01M	1M	+58%	-35.0%
6	ggbGerdau	3.8%	$67.57M	17M	Unchanged	+15.3%
7	bsbrBanco Santander (Brasil)	3.0%	$54.57M	10M	+6%	-16.0%
8	bbarBanco BBVA Argentina	1.9%	$33.36M	2M	+38%	-40.8%
9	pgyPagaya Technologies	1.8%	$32.32M	2M	New	+5.4%
10	ormpOramed Pharmaceuticals	0.7%	$12.08M	3M	+19%	-14.6%
11	cscsanyCosan S.A.	0.3%	$6.04M	2M	Unchanged	–
12	plsmPulsenmore	0.1%	$1.95M	0M	Unchanged	-68.5%
13	tgsGas Transporter of the South	0.0%	$882.86K	0M	Unchanged	-20.4%
14	cepuCentral Puerto	0.0%	$287.01K	0M	Unchanged	-25.4%