| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Baillie Gifford & Co. | 10,281,698 | -4,385,371 | 28,685,937.42 | 0.0143 | 1.1863 | 03/31/2025 |
| 2 | Yunqi Capital Ltd. | 7,098,040 | 0 | 19,803,531.6 | 20.0545 | 0.819 | 03/31/2025 |
| 3 | Tiger Pacific Capital LP | 6,757,978 | 2,821,316 | 18,854,758.62 | 5.5439 | 0.7797 | 03/31/2025 |
| 4 | The Vanguard Group, Inc. | 5,429,489 | -40,256 | 15,148,274.31 | 0.0002 | 0.6265 | 03/31/2025 |
| 5 | SSgA Funds Management, Inc. | 5,358,754 | 563,051 | 14,950,923.66 | 0.0005 | 0.6183 | 03/31/2025 |
| 6 | Acadian Asset Management LLC | 5,168,650 | 3,206,645 | 14,420,533.5 | 0.0304 | 0.5964 | 03/31/2025 |
| 7 | Charles Schwab Investment Management, Inc. | 5,011,130 | 805,292 | 13,981,052.7 | 0.0018 | 0.5782 | 03/31/2025 |
| 8 | First Beijing Investment Ltd. | 4,392,625 | 4,392,625 | 12,255,423.75 | 0.5061 | 0.5068 | 03/31/2025 |
| 9 | BlackRock Fund Advisors | 3,997,851 | 229,062 | 11,154,004.29 | 0.0003 | 0.4613 | 03/31/2025 |
| 10 | TIAA-CREF Investment Management LLC | 3,013,060 | 2,286,093 | 8,406,437.4 | 0.0033 | 0.3477 | 03/31/2025 |
| 11 | Morgan Stanley & Co. LLC | 2,248,428 | 1,962,491 | 6,273,114.12 | 0.0022 | 0.2594 | 03/31/2025 |
| 12 | First Sentier Investors RQI Pty Ltd. | 2,090,172 | -184,358 | 5,831,579.88 | 0.0733 | 0.2412 | 03/31/2025 |
| 13 | FIL Investment Advisors (UK) Ltd. | 2,081,789 | -670,392 | 5,808,191.31 | 0.0198 | 0.2402 | 03/31/2025 |
| 14 | Renaissance Technologies LLC | 1,985,519 | -137,300 | 5,539,598.01 | 0.0074 | 0.2291 | 03/31/2025 |
| 15 | Teachers Advisors LLC | 1,846,195 | 1,279,828 | 5,150,884.05 | 0.0026 | 0.213 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Baillie Gifford Overseas Growth Fund - Pacific Fund | 4,865,995 | -782,520 | 13,576,126.05 | 0.3863 | 0.5614 | 05/31/2025 |
| 2 | Schwab Fundamental Emerging Markets Equity ETF | 4,365,216 | 930,512 | 12,178,952.64 | 0.1715 | 0.5037 | 06/30/2025 |
| 3 | CREF Stock Account | 3,361,360 | 2,634,393 | 9,378,194.4 | 0.0071 | 0.3878 | 04/30/2025 |
| 4 | Vanguard Total International Stock Index Fund | 2,577,777 | 64,987 | 7,191,997.83 | 0.0014 | 0.2974 | 05/31/2025 |
| 5 | Pacific Horizon Investment Trust Plc | 2,509,776 | 0 | 7,002,275.04 | 0.7825 | 0.2896 | 03/31/2025 |
| 6 | Vanguard Emerging Markets Stock Index Fund | 2,341,388 | 0 | 6,532,472.52 | 0.0051 | 0.2702 | 05/31/2025 |
| 7 | iShares Core MSCI Emerging Markets ETF | 2,150,894 | 339,844 | 6,000,994.26 | 0.0062 | 0.2482 | 06/30/2025 |
| 8 | Fidelity China Special Situations Plc | 2,081,789 | -670,392 | 5,808,191.31 | 0.305 | 0.2402 | 03/31/2025 |
| 9 | Nuveen Quant International Small Cap Equity Fund | 1,759,695 | 1,193,328 | 4,909,549.05 | 0.358 | 0.203 | 04/30/2025 |
| 10 | SPDR S&P Kensho New Economies Composite ETF | 1,598,947 | -969,255 | 4,461,062.13 | 0.1897 | 0.1845 | 06/30/2025 |
| 11 | PIMCO RAE Emerging Markets Fund | 1,436,117 | 229,125 | 4,006,766.43 | 0.1679 | 0.1657 | 03/31/2025 |
| 12 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 1,355,122 | 50,676 | 3,780,790.38 | 0.0015 | 0.1564 | 04/30/2025 |
| 13 | State Street AUT Emerging Market Tilted Index Equity Fund | 1,148,600 | 1,044,900 | 3,204,594 | 0.046 | 0.1325 | 05/31/2025 |
| 14 | Schwab Fundamental Emerging Markets Equity Index Fund | 632,451 | 127,894 | 1,764,538.29 | 0.1623 | 0.073 | 05/31/2025 |
| 15 | State Board of Administration of Florida Retirement System | 622,769 | 559,624 | 1,737,525.51 | 0.0016 | 0.0719 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | First Beijing Investment Ltd. | 4,392,625 | 4,392,625 | 12,255,423.75 | 0.5061 | 0.5068 | 03/31/2025 |
| 2 | Acadian Asset Management LLC | 5,168,650 | 3,206,645 | 14,420,533.5 | 0.0304 | 0.5964 | 03/31/2025 |
| 3 | Tiger Pacific Capital LP | 6,757,978 | 2,821,316 | 18,854,758.62 | 5.5439 | 0.7797 | 03/31/2025 |
| 4 | TIAA-CREF Investment Management LLC | 3,013,060 | 2,286,093 | 8,406,437.4 | 0.0033 | 0.3477 | 03/31/2025 |
| 5 | Morgan Stanley & Co. LLC | 2,248,428 | 1,962,491 | 6,273,114.12 | 0.0022 | 0.2594 | 03/31/2025 |
| 6 | Teachers Advisors LLC | 1,846,195 | 1,279,828 | 5,150,884.05 | 0.0026 | 0.213 | 03/31/2025 |
| 7 | Hel Ved Capital Management Ltd. | 1,115,000 | 1,115,000 | 3,110,850 | 1.2575 | 0.1287 | 03/31/2025 |
| 8 | Citadel Advisors LLC | 1,110,226 | 1,110,226 | 3,097,530.54 | 0.0039 | 0.1281 | 03/31/2025 |
| 9 | State Street Global Advisors Ltd. | 1,403,090 | 1,020,479 | 3,914,621.1 | 0.0031 | 0.1619 | 06/30/2025 |
| 10 | D. E. Shaw & Co. LP | 1,017,051 | 1,017,051 | 2,837,572.29 | 0.003 | 0.1173 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Baillie Gifford & Co. | 10,281,698 | -4,385,371 | 28,685,937.42 | 0.0143 | 1.1863 | 03/31/2025 |
| 2 | Marshall Wace LLP | 0 | -2,297,647 | 0 | 0 | 0 | |
| 3 | Caxton Associates LP | 0 | -898,359 | 0 | 0 | 0 | |
| 4 | Citadel Securities LLC | 162,285 | -832,736 | 452,775.15 | 0.0014 | 0.0187 | 03/31/2025 |
| 5 | FIL Investment Management (Hong Kong) Ltd. | 834,913 | -821,684 | 2,329,407.27 | 0.0118 | 0.0963 | 03/31/2025 |
| 6 | Jane Street Capital LLC | 917,095 | -775,251 | 2,558,695.05 | 0.0039 | 0.1058 | 03/31/2025 |
| 7 | FIL Investment Advisors (UK) Ltd. | 2,081,789 | -670,392 | 5,808,191.31 | 0.0198 | 0.2402 | 03/31/2025 |
| 8 | Two Sigma Investments LP | 1,289,889 | -656,686 | 3,598,790.31 | 0.007 | 0.1488 | 03/31/2025 |
| 9 | HRT Financial LP (US) | 0 | -567,265 | 0 | 0 | 0 | |
| 10 | BNP Paribas Financial Markets | 889,745 | -415,730 | 2,482,388.55 | 0.0017 | 0.1027 | 03/31/2025 |
Data provided by FactSet Research Systems Inc.