| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | T. Rowe Price Associates, Inc. (IM) | 88,453,494 | 88,453,494 | 174,253,383.18 | 0.02 | 16.7362 | 11/30/2025 |
| 2 | T. Rowe Price Hong Kong Ltd. | 41,164,012 | 41,164,012 | 81,093,103.64 | 0.284 | 7.7886 | 09/30/2025 |
| 3 | Krane Funds Advisors LLC | 27,539,381 | 5,799,316 | 54,252,580.57 | 0.5274 | 5.2107 | 09/30/2025 |
| 4 | The Vanguard Group, Inc. | 15,239,935 | 531,397 | 30,022,671.95 | 0.0004 | 2.8835 | 12/31/2025 |
| 5 | Morgan Stanley & Co. LLC | 14,669,913 | 4,235,051 | 28,899,728.61 | 0.0096 | 2.7757 | 09/30/2025 |
| 6 | D. E. Shaw & Co. LP | 14,653,879 | -486,682 | 28,868,141.63 | 0.0225 | 2.7726 | 09/30/2025 |
| 7 | Triata Capital Ltd. | 11,802,100 | 3,477,300 | 23,250,137 | 2.7743 | 2.2331 | 09/30/2025 |
| 8 | Norges Bank Investment Management | 10,478,846 | 0 | 20,643,326.62 | 0.0013 | 1.9827 | 06/30/2025 |
| 9 | Dimensional Fund Advisors LP | 9,166,858 | -97,521 | 18,058,710.26 | 0.0025 | 1.7345 | 09/30/2025 |
| 10 | BlackRock Fund Advisors | 8,230,170 | -46,481 | 16,213,434.9 | 0.0003 | 1.5572 | 09/30/2025 |
| 11 | Two Sigma Advisers LP | 7,166,700 | 2,602,700 | 14,118,399 | 0.0274 | 1.356 | 09/30/2025 |
| 12 | UBS Securities LLC | 6,933,061 | 3,126,866 | 13,658,130.17 | 0.0054 | 1.3118 | 12/31/2025 |
| 13 | SSgA Funds Management, Inc. | 6,234,634 | -350,788 | 12,282,228.98 | 0.0004 | 1.1796 | 09/30/2025 |
| 14 | Charles Schwab Investment Management, Inc. | 5,913,460 | 2,202,810 | 11,649,516.2 | 0.0013 | 1.1189 | 09/30/2025 |
| 15 | Perseverance Asset Management LP | 5,390,000 | 3,500,000 | 10,618,300 | 0.2049 | 1.0198 | 09/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Government Pension Fund - Global (The) | 16,736,246 | 0 | 32,970,404.62 | 0.002 | 3.1666 | 06/30/2025 |
| 2 | T. Rowe Price Emerging Markets Discovery Stock Fund | 14,801,391 | 14,801,391 | 29,158,740.27 | 0.4475 | 2.8006 | 09/30/2025 |
| 3 | Vanguard Total International Stock Index Fund | 7,181,317 | 78,962 | 14,147,194.49 | 0.0023 | 1.3588 | 12/31/2025 |
| 4 | Vanguard Emerging Markets Stock Index Fund | 6,650,461 | 360,606 | 13,101,408.17 | 0.0085 | 1.2583 | 12/31/2025 |
| 5 | Schwab Fundamental Emerging Markets Equity ETF | 5,751,708 | 3,014,994 | 11,330,864.76 | 0.1279 | 1.0883 | 01/30/2026 |
| 6 | iShares Core MSCI Emerging Markets ETF | 5,044,799 | 657,500 | 9,938,254.03 | 0.0072 | 0.9545 | 01/30/2026 |
| 7 | DFA Emerging Markets Core Equity 2 Portfolio | 3,953,410 | 0 | 7,788,217.7 | 0.0211 | 0.748 | 11/30/2025 |
| 8 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 3,721,515 | 17,963 | 7,331,384.55 | 0.0023 | 0.7041 | 12/31/2025 |
| 9 | BOCOM Schroder CSI Overseas China Internet Index Fund | 3,267,385 | 0 | 6,436,748.45 | 0.5372 | 0.6182 | 06/30/2025 |
| 10 | Harvest Global Internet Stock Fund | 3,020,000 | 0 | 5,949,400 | 4.211 | 0.5714 | 06/30/2025 |
| 11 | Avantis Emerging Markets Equity ETF | 2,582,169 | 641,309 | 5,086,872.93 | 0.0274 | 0.4886 | 01/30/2026 |
| 12 | T Rowe Price New Asia Fund | 2,458,620 | 2,458,620 | 4,843,481.4 | 0.2136 | 0.4652 | 09/30/2025 |
| 13 | E Fund CSI Overseas China Internet 50 ETF | 2,105,130 | 0 | 4,147,106.1 | 0.0835 | 0.3983 | 06/30/2025 |
| 14 | State Street SPDR S&P Kensho New Economies Composite ETF | 1,826,105 | -776,750 | 3,597,426.85 | 0.1423 | 0.3455 | 01/30/2026 |
| 15 | PIMCO RAE Emerging Markets Fund | 1,816,695 | 1,816,695 | 3,578,889.15 | 0.127 | 0.3437 | 09/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | T. Rowe Price Associates, Inc. (IM) | 88,453,494 | 88,453,494 | 174,253,383.18 | 0.02 | 16.7362 | 11/30/2025 |
| 2 | T. Rowe Price Hong Kong Ltd. | 41,164,012 | 41,164,012 | 81,093,103.64 | 0.284 | 7.7886 | 09/30/2025 |
| 3 | Krane Funds Advisors LLC | 27,539,381 | 5,799,316 | 54,252,580.57 | 0.5274 | 5.2107 | 09/30/2025 |
| 4 | Morgan Stanley & Co. LLC | 14,669,913 | 4,235,051 | 28,899,728.61 | 0.0096 | 2.7757 | 09/30/2025 |
| 5 | T. Rowe Price International Ltd. | 3,707,913 | 3,707,913 | 7,304,588.61 | 0.0041 | 0.7016 | 09/30/2025 |
| 6 | Perseverance Asset Management LP | 5,390,000 | 3,500,000 | 10,618,300 | 0.2049 | 1.0198 | 09/30/2025 |
| 7 | Triata Capital Ltd. | 11,802,100 | 3,477,300 | 23,250,137 | 2.7743 | 2.2331 | 09/30/2025 |
| 8 | UBS Securities LLC | 6,933,061 | 3,126,866 | 13,658,130.17 | 0.0054 | 1.3118 | 12/31/2025 |
| 9 | Two Sigma Advisers LP | 7,166,700 | 2,602,700 | 14,118,399 | 0.0274 | 1.356 | 09/30/2025 |
| 10 | Charles Schwab Investment Management, Inc. | 5,913,460 | 2,202,810 | 11,649,516.2 | 0.0013 | 1.1189 | 09/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Robeco Institutional Asset Management BV | 1,372,830 | -19,663,397 | 2,704,475.1 | 0.0024 | 0.2598 | 12/31/2025 |
| 2 | BNP Paribas Financial Markets | 2,494,487 | -4,120,468 | 4,914,139.39 | 0.0036 | 0.472 | 09/30/2025 |
| 3 | Nan Fung Trinity (HK) Ltd. | 0 | -3,676,950 | 0 | 0 | 0 | |
| 4 | Renaissance Technologies LLC | 1,759,600 | -3,598,100 | 3,466,412 | 0.0045 | 0.3329 | 09/30/2025 |
| 5 | Causeway Capital Management LLC | 0 | -2,896,200 | 0 | 0 | 0 | |
| 6 | Jane Street Capital LLC | 0 | -2,284,634 | 0 | 0 | 0 | |
| 7 | UBS Asset Management Switzerland AG | 215,726 | -1,788,380 | 424,980.22 | 0.0001 | 0.0408 | 09/30/2025 |
| 8 | UBS Switzerland AG (Investment Management) | 1,502,877 | -1,439,827 | 2,960,667.69 | 0.0069 | 0.2844 | 12/31/2025 |
| 9 | Arrowstreet Capital LP | 300,801 | -1,394,892 | 592,577.97 | 0.0003 | 0.0569 | 09/30/2025 |
| 10 | UBS Asset Management (Americas) LLC | 201,386 | -1,387,628 | 396,730.42 | 0.0002 | 0.0381 | 09/30/2025 |
Data provided by FactSet Research Systems Inc.