| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Axim Wealth Management LLC | 4,398,242 | -157,453 | 81,411,459.42 | 69.9497 | 9.9977 | 06/30/2025 |
| 2 | The Vanguard Group, Inc. | 1,532,416 | 230,390 | 28,365,020.16 | 0.0004 | 3.4834 | 06/30/2025 |
| 3 | Kadensa Capital Ltd. | 1,063,937 | 953,169 | 19,693,473.87 | 2.9602 | 2.4185 | 06/30/2025 |
| 4 | SSgA Funds Management, Inc. | 1,044,584 | 77,518 | 19,335,249.84 | 0.0007 | 2.3745 | 06/30/2025 |
| 5 | UBS Securities LLC | 743,658 | 90,238 | 13,765,109.58 | 0.0059 | 1.6904 | 06/30/2025 |
| 6 | Franklin Templeton Sealand Fund Management Co., Ltd. | 560,393 | 0 | 10,372,874.43 | 0.2949 | 1.2738 | 12/31/2024 |
| 7 | Morgan Stanley & Co. LLC | 442,730 | 260,745 | 8,194,932.3 | 0.0029 | 1.0064 | 06/30/2025 |
| 8 | Norges Bank Investment Management | 441,782 | 199,872 | 8,177,384.82 | 0.0006 | 1.0042 | 06/30/2025 |
| 9 | Vanguard Fiduciary Trust Co. | 425,447 | 83,467 | 7,875,023.97 | 0.0079 | 0.9671 | 06/30/2025 |
| 10 | Carrhae Capital LLP | 271,700 | 271,700 | 5,029,167 | 0.4461 | 0.6176 | 06/30/2025 |
| 11 | Hel Ved Capital Management Ltd. | 245,431 | 245,431 | 4,542,927.81 | 1.9313 | 0.5579 | 06/30/2025 |
| 12 | Morgan Stanley Smith Barney LLC (Investment Management) | 244,364 | 240,845 | 4,523,177.64 | 0.0006 | 0.5555 | 06/30/2025 |
| 13 | Eschler Asset Management LLP | 200,000 | 200,000 | 3,702,000 | 2.2578 | 0.4546 | 06/30/2025 |
| 14 | Citadel Securities LLC | 155,860 | -118,305 | 2,884,968.6 | 0.0092 | 0.3543 | 06/30/2025 |
| 15 | IMC Chicago LLC | 149,980 | 9,852 | 2,776,129.8 | 0.0657 | 0.3409 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | SPDR S&P Kensho New Economies Composite ETF | 943,488 | 77,609 | 17,463,962.88 | 0.7176 | 2.1447 | 07/31/2025 |
| 2 | Vanguard Total International Stock Index Fund | 709,434 | 119,243 | 13,131,623.34 | 0.0024 | 1.6126 | 07/31/2025 |
| 3 | Vanguard Emerging Markets Stock Index Fund | 633,483 | 93,705 | 11,725,770.33 | 0.0087 | 1.44 | 07/31/2025 |
| 4 | Franklin Templeton Sealand Greater China Select Balanced Fund | 500,393 | 0 | 9,262,274.43 | 2.8279 | 1.1375 | 12/31/2024 |
| 5 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 367,309 | 71,284 | 6,798,889.59 | 0.0025 | 0.8349 | 07/31/2025 |
| 6 | Government Pension Fund - Global (The) | 241,909 | 0 | 4,477,735.59 | 0.0003 | 0.5499 | 12/31/2024 |
| 7 | Vanguard FTSE All World (ex-US) Small Cap | 161,663 | 19,590 | 2,992,382.13 | 0.0243 | 0.3675 | 07/31/2025 |
| 8 | Digital Leaders Fund (The) | 125,000 | 5,000 | 2,313,750 | 2.8463 | 0.2841 | 05/30/2025 |
| 9 | Fullgoal China Small & Medium Caps (HK-Listed) Balanced Fund | 116,767 | 0 | 2,161,357.17 | 0.3984 | 0.2654 | 12/31/2024 |
| 10 | Carmignac China New Economy | 102,497 | 0 | 1,897,219.47 | 5.9769 | 0.233 | 12/31/2024 |
| 11 | Fonditalia - Equity China | 86,201 | 86,201 | 1,595,580.51 | 0.2759 | 0.1959 | 07/31/2025 |
| 12 | Carmignac Portfolio - China New Economy | 82,563 | -317,104 | 1,528,241.13 | 2.2033 | 0.1877 | 03/31/2025 |
| 13 | Franklin Templeton Sealand Asia (ex-Japan) Opportunities Fund | 60,000 | 0 | 1,110,600 | 3.0275 | 0.1364 | 12/31/2024 |
| 14 | Vanguard Institutional Total Intl. Stock Market Index Trust | 58,138 | 12,183 | 1,076,134.38 | 0.0027 | 0.1322 | 06/30/2025 |
| 15 | SPDR Portfolio Emerging Markets ETF | 40,744 | 2,779 | 754,171.44 | 0.0058 | 0.0926 | 07/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Kadensa Capital Ltd. | 1,063,937 | 953,169 | 19,693,473.87 | 2.9602 | 2.4185 | 06/30/2025 |
| 2 | Carrhae Capital LLP | 271,700 | 271,700 | 5,029,167 | 0.4461 | 0.6176 | 06/30/2025 |
| 3 | Morgan Stanley & Co. LLC | 442,730 | 260,745 | 8,194,932.3 | 0.0029 | 1.0064 | 06/30/2025 |
| 4 | Hel Ved Capital Management Ltd. | 245,431 | 245,431 | 4,542,927.81 | 1.9313 | 0.5579 | 06/30/2025 |
| 5 | Morgan Stanley Smith Barney LLC (Investment Management) | 244,364 | 240,845 | 4,523,177.64 | 0.0006 | 0.5555 | 06/30/2025 |
| 6 | The Vanguard Group, Inc. | 1,532,416 | 230,390 | 28,365,020.16 | 0.0004 | 3.4834 | 06/30/2025 |
| 7 | Eschler Asset Management LLP | 200,000 | 200,000 | 3,702,000 | 2.2578 | 0.4546 | 06/30/2025 |
| 8 | Norges Bank Investment Management | 441,782 | 199,872 | 8,177,384.82 | 0.0006 | 1.0042 | 06/30/2025 |
| 9 | UBS Securities LLC | 743,658 | 90,238 | 13,765,109.58 | 0.0059 | 1.6904 | 06/30/2025 |
| 10 | Fideuram Asset Management (Ireland) DAC | 86,201 | 86,201 | 1,595,580.51 | 0.0088 | 0.1959 | 07/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Susquehanna Financial Group LLLP | 0 | -761,132 | 0 | 0 | 0 | |
| 2 | Jane Street Capital LLC | 0 | -589,527 | 0 | 0 | 0 | |
| 3 | Millennium Management LLC | 29,683 | -471,834 | 549,432.33 | 0.0005 | 0.0675 | 06/30/2025 |
| 4 | Group One Trading LLC | 138,995 | -292,226 | 2,572,797.45 | 0.0788 | 0.316 | 06/30/2025 |
| 5 | Nomura Global Financial Products, Inc. | 0 | -253,819 | 0 | 0 | 0 | |
| 6 | Carmignac Gestion SA | 106,479 | -224,244 | 1,970,926.29 | 0.0203 | 0.242 | 06/30/2025 |
| 7 | Axim Wealth Management LLC | 4,398,242 | -157,453 | 81,411,459.42 | 69.9497 | 9.9977 | 06/30/2025 |
| 8 | Baader Bank AG (Investment Management) | 25,000 | -153,000 | 462,750 | 0.0293 | 0.0568 | 06/30/2025 |
| 9 | Walleye Capital LLC | 47,860 | -119,602 | 885,888.6 | 0.0056 | 0.1088 | 06/30/2025 |
| 10 | Citadel Securities LLC | 155,860 | -118,305 | 2,884,968.6 | 0.0092 | 0.3543 | 06/30/2025 |
Data provided by FactSet Research Systems Inc.