| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Stonehill Capital Management LLC | 2,286,321 | 1,181,996 | 96,482,746.2 | 21.8261 | 5.3497 | 03/31/2025 |
| 2 | Acadian Asset Management LLC | 1,619,861 | -126,792 | 68,358,134.2 | 0.1584 | 3.7902 | 12/31/2024 |
| 3 | Krane Funds Advisors LLC | 1,559,646 | 220,110 | 65,817,061.2 | 0.766 | 3.6493 | 03/31/2025 |
| 4 | OLP Capital Management Ltd. | 1,531,965 | 1,531,965 | 64,648,923 | 4.8229 | 3.5846 | 03/31/2025 |
| 5 | Bright Valley Capital Ltd. | 1,312,841 | 1,056,210 | 55,401,890.2 | 34.1694 | 3.0719 | 03/31/2025 |
| 6 | Alpine Investment Management Ltd. | 1,000,000 | 1,000,000 | 42,200,000 | 36.0363 | 2.3399 | 03/31/2025 |
| 7 | Eastspring Investments (Singapore) Ltd. | 991,041 | 991,041 | 41,821,930.2 | 0.1367 | 2.3189 | 03/31/2025 |
| 8 | Arrowstreet Capital LP | 879,354 | 67,765 | 37,108,738.8 | 0.0271 | 2.0576 | 03/31/2025 |
| 9 | The Vanguard Group, Inc. | 854,019 | 3,085 | 36,039,601.8 | 0.0005 | 1.9983 | 03/31/2025 |
| 10 | Farallon Capital Management LLC | 780,000 | 780,000 | 32,916,000 | 0.195 | 1.8251 | 03/31/2025 |
| 11 | Whitefort Capital Management, LP | 759,443 | 193,565 | 32,048,494.6 | 15.381 | 1.777 | 03/31/2025 |
| 12 | Morgan Stanley & Co. LLC | 700,797 | -36,758 | 29,573,633.4 | 0.0108 | 1.6398 | 03/31/2025 |
| 13 | SSgA Funds Management, Inc. | 552,155 | -90,569 | 23,300,941 | 0.0009 | 1.292 | 03/31/2025 |
| 14 | Tiger Pacific Capital LP | 552,114 | -733 | 23,299,210.8 | 7.0553 | 1.2919 | 03/31/2025 |
| 15 | Canada Pension Plan Investment Board | 528,273 | -39,327 | 22,293,120.6 | 0.0126 | 1.2361 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | KraneShares CSI China Internet ETF | 1,189,978 | -263,563 | 50,217,071.6 | 0.7859 | 2.7844 | 04/30/2025 |
| 2 | Vanguard Total International Stock Index Fund | 406,983 | 8,512 | 17,174,682.6 | 0.0035 | 0.9523 | 04/30/2025 |
| 3 | Vanguard Emerging Markets Stock Index Fund | 364,077 | 8,055 | 15,364,049.4 | 0.0129 | 0.8519 | 04/30/2025 |
| 4 | iShares Core MSCI Emerging Markets ETF | 264,781 | -41,886 | 11,173,758.2 | 0.0126 | 0.6195 | 04/30/2025 |
| 5 | CREF Stock Account | 252,900 | 77,600 | 10,672,380 | 0.0085 | 0.5917 | 03/31/2025 |
| 6 | Stichting Pensioenfonds ABP (Global Equity Portfolio) | 250,424 | 0 | 10,567,892.8 | 0.0027 | 0.586 | 12/31/2023 |
| 7 | BOCOM Schroder CSI Overseas China Internet Index Fund | 234,773 | -23,000 | 9,907,420.6 | 0.6703 | 0.5493 | 12/31/2024 |
| 8 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 209,942 | 7,552 | 8,859,552.4 | 0.0035 | 0.4912 | 03/31/2025 |
| 9 | Fidelity Low Priced Stock Fund | 191,787 | -746 | 8,093,411.4 | 0.035 | 0.4488 | 02/28/2025 |
| 10 | Invesco China Technology ETF | 180,102 | 16,407 | 7,600,304.4 | 0.7863 | 0.4214 | 04/30/2025 |
| 11 | Nuveen Quant International Small Cap Equity Fund | 150,300 | -700 | 6,342,660 | 0.485 | 0.3517 | 03/31/2025 |
| 12 | E Fund CSI Overseas China Internet 50 ETF | 149,638 | 54,478 | 6,314,723.6 | 0.1023 | 0.3501 | 12/31/2024 |
| 13 | SPDR S&P Kensho New Economies Composite ETF | 126,507 | 29,906 | 5,338,595.4 | 0.2389 | 0.296 | 04/30/2025 |
| 14 | SEI Institutional Invt. Trust - World Equity (ex-US) Fund | 113,942 | 0 | 4,808,352.4 | 0.0587 | 0.2666 | 04/30/2025 |
| 15 | KraneShares ICAV - CSI China Internet UCITS ETF | 95,792 | -9,741 | 4,042,422.4 | 0.7201 | 0.2241 | 04/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | OLP Capital Management Ltd. | 1,531,965 | 1,531,965 | 64,648,923 | 4.8229 | 3.5846 | 03/31/2025 |
| 2 | Stonehill Capital Management LLC | 2,286,321 | 1,181,996 | 96,482,746.2 | 21.8261 | 5.3497 | 03/31/2025 |
| 3 | Bright Valley Capital Ltd. | 1,312,841 | 1,056,210 | 55,401,890.2 | 34.1694 | 3.0719 | 03/31/2025 |
| 4 | Alpine Investment Management Ltd. | 1,000,000 | 1,000,000 | 42,200,000 | 36.0363 | 2.3399 | 03/31/2025 |
| 5 | Eastspring Investments (Singapore) Ltd. | 991,041 | 991,041 | 41,821,930.2 | 0.1367 | 2.3189 | 03/31/2025 |
| 6 | Farallon Capital Management LLC | 780,000 | 780,000 | 32,916,000 | 0.195 | 1.8251 | 03/31/2025 |
| 7 | UBS Securities LLC | 435,168 | 382,927 | 18,364,089.6 | 0.0079 | 1.0182 | 03/31/2025 |
| 8 | BNP Paribas Financial Markets | 292,762 | 292,762 | 12,354,556.4 | 0.0089 | 0.685 | 03/31/2025 |
| 9 | Krane Funds Advisors LLC | 1,559,646 | 220,110 | 65,817,061.2 | 0.766 | 3.6493 | 03/31/2025 |
| 10 | Whitefort Capital Management, LP | 759,443 | 193,565 | 32,048,494.6 | 15.381 | 1.777 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Point72 Asset Management LP | 0 | -2,182,986 | 0 | 0 | 0 | 03/31/2025 |
| 2 | Mangrove Partners IM LLC | 0 | -1,026,571 | 0 | 0 | 0 | |
| 3 | Oaktree Capital Management LP | 0 | -882,590 | 0 | 0 | 0 | |
| 4 | Yunqi Capital Ltd. | 0 | -845,702 | 0 | 0 | 0 | |
| 5 | Russell Investment Management LLC | 117,074 | -574,255 | 4,940,522.8 | 0.0055 | 0.2739 | 03/31/2025 |
| 6 | Cape Ann Asset Management Ltd. | 0 | -476,900 | 0 | 0 | 0 | |
| 7 | Capital Research & Management Co. (World Investors) | 0 | -412,500 | 0 | 0 | 0 | |
| 8 | MY.Alpha Management (HK) Advisors Ltd. | 127,427 | -339,042 | 5,377,419.4 | 2.6822 | 0.2982 | 03/31/2025 |
| 9 | Fidelity Management & Research Co. LLC | 372,320 | -171,094 | 15,711,904 | 0.001 | 0.8712 | 03/31/2025 |
| 10 | Acadian Asset Management LLC | 1,619,861 | -126,792 | 68,358,134.2 | 0.1584 | 3.7902 | 12/31/2024 |
Data provided by FactSet Research Systems Inc.