| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Yunqi Capital Ltd. | 10,098,040 | 3,000,000 | 29,284,316 | 17.8519 | 1.1651 | 06/30/2025 |
| 2 | Baillie Gifford & Co. | 9,287,204 | -5,379,865 | 26,932,891.6 | 0.0138 | 1.0716 | 06/30/2025 |
| 3 | The Vanguard Group, Inc. | 9,159,990 | 3,690,245 | 26,563,971 | 0.0004 | 1.0569 | 06/30/2025 |
| 4 | Tiger Pacific Capital LP | 6,476,524 | 2,539,862 | 18,781,919.6 | 4.6385 | 0.7473 | 06/30/2025 |
| 5 | First Beijing Investment Ltd. | 6,464,988 | 6,464,988 | 18,748,465.2 | 0.6545 | 0.7459 | 06/30/2025 |
| 6 | Charles Schwab Investment Management, Inc. | 5,393,134 | 1,187,296 | 15,640,088.6 | 0.0019 | 0.6223 | 06/30/2025 |
| 7 | SSgA Funds Management, Inc. | 5,042,177 | 246,474 | 14,622,313.3 | 0.0005 | 0.5818 | 06/30/2025 |
| 8 | Acadian Asset Management LLC | 4,843,977 | 2,881,972 | 14,047,533.3 | 0.0245 | 0.5589 | 06/30/2025 |
| 9 | BlackRock Fund Advisors | 4,171,153 | 402,364 | 12,096,343.7 | 0.0003 | 0.4813 | 06/30/2025 |
| 10 | TIAA-CREF Investment Management LLC | 3,350,960 | 2,623,993 | 9,717,784 | 0.0038 | 0.3866 | 06/30/2025 |
| 11 | First Sentier Investors RQI Pty Ltd. | 3,254,953 | 980,423 | 9,439,363.7 | 0.1162 | 0.3756 | 06/30/2025 |
| 12 | Vanguard Fiduciary Trust Co. | 2,658,809 | 1,169,508 | 7,710,546.1 | 0.0079 | 0.3068 | 06/30/2025 |
| 13 | Citadel Securities LLC | 2,511,678 | 1,516,657 | 7,283,866.2 | 0.0238 | 0.2898 | 06/30/2025 |
| 14 | Arrowstreet Capital LP | 2,168,162 | 2,013,583 | 6,287,669.8 | 0.0042 | 0.2502 | 06/30/2025 |
| 15 | Norges Bank Investment Management | 1,766,041 | 0 | 5,121,518.9 | 0.0004 | 0.2038 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Schwab Fundamental Emerging Markets Equity ETF | 4,493,289 | 1,002,489 | 13,030,538.1 | 0.1784 | 0.5184 | 07/31/2025 |
| 2 | Baillie Gifford Overseas Growth Fund - Pacific Fund | 4,481,251 | -1,155,746 | 12,995,627.9 | 0.3676 | 0.5171 | 07/31/2025 |
| 3 | Vanguard Total International Stock Index Fund | 4,420,605 | 1,907,815 | 12,819,754.5 | 0.0024 | 0.5101 | 07/31/2025 |
| 4 | Vanguard Emerging Markets Stock Index Fund | 3,948,311 | 1,606,923 | 11,450,101.9 | 0.0085 | 0.4556 | 07/31/2025 |
| 5 | CREF Stock Account | 3,350,960 | 2,623,993 | 9,717,784 | 0.0073 | 0.3866 | 06/30/2025 |
| 6 | iShares Core MSCI Emerging Markets ETF | 2,426,164 | 394,976 | 7,035,875.6 | 0.0069 | 0.2799 | 07/31/2025 |
| 7 | Pacific Horizon Investment Trust Plc | 2,421,694 | -88,082 | 7,022,912.6 | 0.7626 | 0.2794 | 05/31/2025 |
| 8 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 2,312,081 | 1,007,635 | 6,705,034.9 | 0.0025 | 0.2668 | 07/31/2025 |
| 9 | Nuveen Quant International Small Cap Equity Fund | 1,709,095 | 1,142,728 | 4,956,375.5 | 0.382 | 0.1972 | 06/30/2025 |
| 10 | SPDR S&P Kensho New Economies Composite ETF | 1,580,318 | -999,876 | 4,582,922.2 | 0.1945 | 0.1823 | 07/31/2025 |
| 11 | PIMCO RAE Emerging Markets Fund | 1,436,117 | 229,125 | 4,164,739.3 | 0.1782 | 0.1657 | 03/31/2025 |
| 12 | State Street AUT Emerging Market Tilted Index Equity Fund | 1,360,800 | 1,257,100 | 3,946,320 | 0.0489 | 0.157 | 07/31/2025 |
| 13 | BIT Global Technology Leaders | 1,187,601 | 0 | 3,444,042.9 | 0.4467 | 0.137 | 06/30/2024 |
| 14 | Schwab Fundamental Emerging Markets Equity Index Fund | 695,964 | 191,407 | 2,018,295.6 | 0.1748 | 0.0803 | 07/31/2025 |
| 15 | Vanguard FTSE All World (ex-US) Index Fund | 650,948 | 285,226 | 1,887,749.2 | 0.0026 | 0.0751 | 07/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | First Beijing Investment Ltd. | 6,464,988 | 6,464,988 | 18,748,465.2 | 0.6545 | 0.7459 | 06/30/2025 |
| 2 | The Vanguard Group, Inc. | 9,159,990 | 3,690,245 | 26,563,971 | 0.0004 | 1.0569 | 06/30/2025 |
| 3 | Yunqi Capital Ltd. | 10,098,040 | 3,000,000 | 29,284,316 | 17.8519 | 1.1651 | 06/30/2025 |
| 4 | Acadian Asset Management LLC | 4,843,977 | 2,881,972 | 14,047,533.3 | 0.0245 | 0.5589 | 06/30/2025 |
| 5 | TIAA-CREF Investment Management LLC | 3,350,960 | 2,623,993 | 9,717,784 | 0.0038 | 0.3866 | 06/30/2025 |
| 6 | Tiger Pacific Capital LP | 6,476,524 | 2,539,862 | 18,781,919.6 | 4.6385 | 0.7473 | 06/30/2025 |
| 7 | Arrowstreet Capital LP | 2,168,162 | 2,013,583 | 6,287,669.8 | 0.0042 | 0.2502 | 06/30/2025 |
| 8 | Citadel Securities LLC | 2,511,678 | 1,516,657 | 7,283,866.2 | 0.0238 | 0.2898 | 06/30/2025 |
| 9 | State Street Global Advisors Ltd. | 1,660,330 | 1,277,339 | 4,814,957 | 0.0035 | 0.1916 | 07/31/2025 |
| 10 | Charles Schwab Investment Management, Inc. | 5,393,134 | 1,187,296 | 15,640,088.6 | 0.0019 | 0.6223 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Baillie Gifford & Co. | 9,287,204 | -5,379,865 | 26,932,891.6 | 0.0138 | 1.0716 | 06/30/2025 |
| 2 | FIL Investment Advisors (UK) Ltd. | 0 | -2,752,181 | 0 | 0 | 0 | |
| 3 | Marshall Wace LLP | 57,404 | -2,240,243 | 166,471.6 | 0.0002 | 0.0066 | 06/30/2025 |
| 4 | FIL Investment Management (Hong Kong) Ltd. | 0 | -1,656,597 | 0 | 0 | 0 | |
| 5 | Two Sigma Investments LP | 479,978 | -1,466,597 | 1,391,936.2 | 0.0025 | 0.0554 | 06/30/2025 |
| 6 | Caxton Associates LP | 0 | -898,359 | 0 | 0 | 0 | |
| 7 | Catalyst Funds Management Pty Ltd. | 0 | -888,000 | 0 | 0 | 0 | |
| 8 | Two Sigma Advisers LP | 773,066 | -800,675 | 2,241,891.4 | 0.0045 | 0.0892 | 06/30/2025 |
| 9 | BNP Paribas Financial Markets | 686,185 | -619,290 | 1,989,936.5 | 0.0015 | 0.0792 | 06/30/2025 |
| 10 | Millennium Management LLC | 0 | -580,890 | 0 | 0 | 0 |
Data provided by FactSet Research Systems Inc.