| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Krane Funds Advisors LLC | 18,388,361 | -1,949,825 | 204,110,807.1 | 1.9722 | 4.014 | 06/30/2025 |
| 2 | Morgan Stanley & Co. LLC | 16,057,727 | -10,252,398 | 178,240,769.7 | 0.0609 | 3.5053 | 06/30/2025 |
| 3 | Fidelity Management & Research Co. LLC | 15,371,715 | 7,464,196 | 170,626,036.5 | 0.0096 | 3.3555 | 06/30/2025 |
| 4 | BlackRock Fund Advisors | 13,455,775 | 535,668 | 149,359,102.5 | 0.0034 | 2.9373 | 06/30/2025 |
| 5 | The Vanguard Group, Inc. | 12,512,843 | 222,636 | 138,892,557.3 | 0.0019 | 2.7315 | 06/30/2025 |
| 6 | Healthcare of Ontario Pension Plan | 11,326,800 | 1,412,600 | 125,727,480 | 0.2361 | 2.4726 | 06/30/2025 |
| 7 | UBS Asset Management Switzerland AG | 9,832,837 | 9,276,731 | 109,144,490.7 | 0.0243 | 2.1464 | 06/30/2025 |
| 8 | Bank of America, NA (Private Banking) | 9,259,533 | 3,267,744 | 102,780,816.3 | 0.0322 | 2.0213 | 06/30/2025 |
| 9 | Tiger Pacific Capital LP | 9,233,398 | -4,536,358 | 102,490,717.8 | 32.112 | 2.0156 | 06/30/2025 |
| 10 | SSgA Funds Management, Inc. | 7,536,671 | 268,631 | 83,657,048.1 | 0.0028 | 1.6452 | 06/30/2025 |
| 11 | FIAM LLC | 7,061,697 | 6,067,741 | 78,384,836.7 | 0.0433 | 1.5415 | 06/30/2025 |
| 12 | Coreview Capital Management Ltd. | 7,007,165 | 5,418,356 | 77,779,531.5 | 8.506 | 1.5296 | 06/30/2025 |
| 13 | UBS Asset Management (Hong Kong) Ltd. | 6,658,195 | -1,545,914 | 73,905,964.5 | 0.8683 | 1.4534 | 07/31/2025 |
| 14 | Goldman Sachs & Co. LLC (Private Banking) | 6,266,203 | -11,443,582 | 69,554,853.3 | 0.0285 | 1.3679 | 06/30/2025 |
| 15 | Macquarie Investment Management Business Trust | 6,009,191 | -4,866 | 66,702,020.1 | 0.0689 | 1.3118 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | KraneShares CSI China Internet ETF | 19,962,195 | -449,213 | 221,580,364.5 | 2.4286 | 4.3576 | 08/29/2025 |
| 2 | Fidelity Advisor Focused Emerging Markets Fund | 8,059,141 | 2,257,841 | 89,456,465.1 | 0.9812 | 1.7592 | 07/31/2025 |
| 3 | Vanguard Total International Stock Index Fund | 5,884,070 | 36,875 | 65,313,177 | 0.0118 | 1.2844 | 07/31/2025 |
| 4 | Vanguard Emerging Markets Stock Index Fund | 5,456,435 | 113,364 | 60,566,428.5 | 0.043 | 1.1911 | 07/31/2025 |
| 5 | Macquarie Emerging Markets Fund | 5,361,736 | 0 | 59,515,269.6 | 0.8037 | 1.1704 | 07/31/2025 |
| 6 | Government Pension Fund - Global (The) | 4,024,110 | -3,224,216 | 44,667,621 | 0.003 | 0.8784 | 06/30/2025 |
| 7 | iShares Core MSCI Emerging Markets ETF | 3,915,071 | 231,342 | 43,457,288.1 | 0.0403 | 0.8546 | 08/29/2025 |
| 8 | Strategic Advisers Fidelity Emerging Markets Fund | 3,777,000 | 1,273,259 | 41,924,700 | 0.1405 | 0.8245 | 07/31/2025 |
| 9 | UBS Lux Equity Fund - China Opportunity USD | 3,619,623 | -1,228,855 | 40,177,815.3 | 1.1801 | 0.7901 | 05/30/2025 |
| 10 | BOCOM Schroder CSI Overseas China Internet Index Fund | 3,403,070 | 0 | 37,774,077 | 2.2154 | 0.7429 | 12/31/2024 |
| 11 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 3,049,357 | 25,791 | 33,847,862.7 | 0.0121 | 0.6657 | 07/31/2025 |
| 12 | UBS Lux Equity SICAV - All China USD | 2,103,154 | -252,912 | 23,345,009.4 | 1.5801 | 0.4591 | 05/30/2025 |
| 13 | E Fund CSI Overseas China Internet 50 ETF | 1,761,192 | -478,369 | 19,549,231.2 | 0.3425 | 0.3845 | 06/30/2025 |
| 14 | KraneShares ICAV - CSI China Internet UCITS ETF | 1,740,163 | 370,118 | 19,315,809.3 | 2.4334 | 0.3799 | 08/29/2025 |
| 15 | Harvest Global Internet Stock Fund | 1,415,000 | 0 | 15,706,500 | 8.4848 | 0.3089 | 12/31/2024 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | UBS Asset Management Switzerland AG | 9,832,837 | 9,276,731 | 109,144,490.7 | 0.0243 | 2.1464 | 06/30/2025 |
| 2 | Fidelity Management & Research Co. LLC | 15,371,715 | 7,464,196 | 170,626,036.5 | 0.0096 | 3.3555 | 06/30/2025 |
| 3 | FIAM LLC | 7,061,697 | 6,067,741 | 78,384,836.7 | 0.0433 | 1.5415 | 06/30/2025 |
| 4 | Coreview Capital Management Ltd. | 7,007,165 | 5,418,356 | 77,779,531.5 | 8.506 | 1.5296 | 06/30/2025 |
| 5 | Bank of America, NA (Private Banking) | 9,259,533 | 3,267,744 | 102,780,816.3 | 0.0322 | 2.0213 | 06/30/2025 |
| 6 | Capitolis Liquid Global Markets LLC | 2,783,900 | 2,783,900 | 30,901,290 | 0.2094 | 0.6077 | 06/30/2025 |
| 7 | BofA Securities, Inc. | 4,659,389 | 2,681,561 | 51,719,217.9 | 0.091 | 1.0171 | 06/30/2025 |
| 8 | UBS Asset Management (Americas) LLC | 2,369,590 | 2,369,590 | 26,302,449 | 0.0192 | 0.5173 | 06/30/2025 |
| 9 | UBS Asset Management (UK) Ltd. | 1,740,135 | 1,740,135 | 19,315,498.5 | 0.0087 | 0.3799 | 06/30/2025 |
| 10 | Healthcare of Ontario Pension Plan | 11,326,800 | 1,412,600 | 125,727,480 | 0.2361 | 2.4726 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Goldman Sachs & Co. LLC (Private Banking) | 6,266,203 | -11,443,582 | 69,554,853.3 | 0.0285 | 1.3679 | 06/30/2025 |
| 2 | Morgan Stanley & Co. LLC | 16,057,727 | -10,252,398 | 178,240,769.7 | 0.0609 | 3.5053 | 06/30/2025 |
| 3 | TT International Asset Management Ltd. | 0 | -4,896,911 | 0 | 0 | 0 | |
| 4 | Tiger Pacific Capital LP | 9,233,398 | -4,536,358 | 102,490,717.8 | 32.112 | 2.0156 | 06/30/2025 |
| 5 | Millennium Management LLC | 21,199 | -4,382,446 | 235,308.9 | 0.0002 | 0.0046 | 06/30/2025 |
| 6 | Manulife Investment Management (US) LLC | 57,047 | -3,931,257 | 633,221.7 | 0.0005 | 0.0125 | 06/30/2025 |
| 7 | Norges Bank Investment Management | 4,024,110 | -3,224,217 | 44,667,621 | 0.003 | 0.8784 | 06/30/2025 |
| 8 | Fidelity Management & Research (Hong Kong) Ltd. | 2,055,568 | -3,197,300 | 22,816,804.8 | 0.176 | 0.4487 | 07/31/2025 |
| 9 | Discerene Group LP | 1,354,733 | -2,335,515 | 15,037,536.3 | 1.4059 | 0.2957 | 06/30/2025 |
| 10 | UBS Securities LLC | 1,725,618 | -2,293,377 | 19,154,359.8 | 0.008 | 0.3767 | 06/30/2025 |
Data provided by FactSet Research Systems Inc.