| Moerus Capital Management LLC | 3,916,307 | $30,194,727 | 9.14% |
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| INCA Investments LLC | 908,615 | $7,005 | 2.60% |
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| Hedges Asset Management LLC | 300,570 | $2,317,395 | 1.97% |
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| American Trust Investment Advisors, LLC | 420,335 | $3,240,783 | 1.95% |
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| O'Keefe Stevens Advisory, Inc. | 504,821 | $3,892,170 | 1.92% |
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| DUMAC, INC. | 60,857 | $469,207 | 1.63% |
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| BW Gestao de Investimentos Ltda. | 1,354,278 | $10,441,483 | 1.49% |
|---|
| GLOBEFLEX CAPITAL L P | 1,152,918 | $8,888,998 | 1.08% |
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| PRIVATE MANAGEMENT GROUP INC | 2,347,346 | $18,098,038 | 0.81% |
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| Yorktown Management & Research Co Inc | 85,000 | $655,350 | 0.71% |
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| DELTEC ASSET MANAGEMENT LLC | 349,147 | $2,691,923 | 0.66% |
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| Nebula Research & Development LLC | 41,585 | $320,620 | 0.57% |
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| AUXIER ASSET MANAGEMENT | 327,095 | $2,521,902 | 0.44% |
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| Redwood Investments, LLC | 306,179 | $2,360,640 | 0.30% |
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| ACORN FINANCIAL ADVISORY SERVICES INC /ADV | 195,808 | $1,509,682 | 0.29% |
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| Banco BTG Pactual S.A. | 100,300 | $793,373 | 0.29% |
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| Verde Servicos Internacionais S.A. | 89,993 | $694 | 0.22% |
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| DGS Capital Management, LLC | 50,113 | $386,371 | 0.22% |
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| Diligent Investors, LLC | 83,759 | $645,779 | 0.20% |
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| TimesSquare Capital Management, LLC | 1,520,400 | $11,722 | 0.17% |
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