| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Baillie Gifford & Co. | 28,353,099 | -3,445,904 | 2,759,890,656.66 | 1.6936 | 1.9972 | 03/31/2026 |
| 2 | Vanguard Capital Management LLC | 24,125,658 | 24,125,658 | 2,348,391,549.72 | 0.041 | 1.6994 | 03/31/2026 |
| 3 | BlackRock Fund Advisors | 23,347,705 | 2,214,924 | 2,272,665,604.7 | 0.0445 | 1.6446 | 03/31/2026 |
| 4 | H&H International Investment LLC | 19,748,294 | 11,174,100 | 1,922,298,937.96 | 8.5449 | 1.3911 | 03/31/2026 |
| 5 | SSgA Funds Management, Inc. | 12,033,697 | -69,785 | 1,171,360,065.98 | 0.0351 | 0.8477 | 03/31/2026 |
| 6 | BlackRock Advisors (UK) Ltd. | 9,549,915 | 1,395,784 | 929,588,726.1 | 0.0903 | 0.6727 | 03/31/2026 |
| 7 | Norges Bank Investment Management | 9,396,292 | 197,120 | 914,635,063.28 | 0.054 | 0.6619 | 12/31/2025 |
| 8 | Goldman Sachs & Co. LLC (Private Banking) | 8,955,276 | -177,952 | 871,706,565.84 | 0.2768 | 0.6308 | 03/31/2026 |
| 9 | First Beijing Investment Ltd. | 8,149,162 | 1,980,441 | 793,239,429.08 | 21.0867 | 0.574 | 03/31/2026 |
| 10 | Sanders Capital LLC | 8,091,801 | -41,489 | 787,655,909.34 | 0.7891 | 0.57 | 03/31/2026 |
| 11 | Geode Capital Management LLC | 6,852,927 | 453,068 | 667,063,914.18 | 0.0306 | 0.4827 | 03/31/2026 |
| 12 | Vanguard Fiduciary Trust Co. | 6,519,805 | -117,169 | 634,637,818.7 | 0.0842 | 0.4593 | 03/31/2026 |
| 13 | SG Americas Securities LLC | 6,301,820 | 6,000,370 | 613,419,158.8 | 0.5896 | 0.4439 | 03/31/2026 |
| 14 | Invesco Capital Management LLC | 5,782,862 | 880,400 | 562,903,787.08 | 0.1182 | 0.4073 | 03/31/2026 |
| 15 | Krane Funds Advisors LLC | 5,733,184 | -405,888 | 558,068,130.56 | 6.6974 | 0.4038 | 03/31/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Invesco QQQ Trust, Series 1 | 14,295,934 | 256,117 | 1,391,566,215.56 | 0.301 | 1.007 | 04/30/2026 |
| 2 | Vanguard Total International Stock Index Fund | 11,128,676 | 93,226 | 1,083,265,321.84 | 0.1688 | 0.7839 | 04/30/2026 |
| 3 | Vanguard Emerging Markets Stock Index Fund | 10,526,997 | 365,470 | 1,024,697,887.98 | 0.6226 | 0.7415 | 04/30/2026 |
| 4 | iShares Core MSCI Emerging Markets ETF | 7,872,162 | 931,914 | 766,276,249.08 | 0.5044 | 0.5545 | 04/30/2026 |
| 5 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 5,596,652 | -158,642 | 544,778,105.68 | 0.1758 | 0.3942 | 03/31/2026 |
| 6 | KraneShares CSI China Internet ETF | 5,452,185 | -253,316 | 530,715,687.9 | 8.3415 | 0.3841 | 04/30/2026 |
| 7 | Vanguard International Growth Fund | 4,491,188 | -347,028 | 437,172,239.92 | 0.9988 | 0.3164 | 02/28/2026 |
| 8 | Scottish Mortgage Investment Trust Plc | 4,068,403 | -76,849 | 396,018,348.02 | 1.8795 | 0.2866 | 03/31/2026 |
| 9 | E Fund CSI Overseas China Internet 50 ETF | 3,504,014 | 400,516 | 341,080,722.76 | 7.1643 | 0.2468 | 12/31/2025 |
| 10 | Dodge & Cox International Stock Fund | 3,004,100 | 3,004,100 | 292,419,094 | 0.4562 | 0.2116 | 03/31/2026 |
| 11 | Invesco NASDAQ 100 ETF | 2,689,997 | 350,853 | 261,844,307.98 | 0.3008 | 0.1895 | 04/30/2026 |
| 12 | Invesco China Technology ETF | 2,320,306 | 160,722 | 225,858,586.04 | 7.8749 | 0.1634 | 04/30/2026 |
| 13 | iShares plc - Core MSCI Emerging Markets IMI UCITS ETF | 2,169,727 | 236,738 | 211,201,226.18 | 0.5032 | 0.1528 | 04/30/2026 |
| 14 | Avantis Emerging Markets Equity ETF | 2,096,576 | 1,085,929 | 204,080,707.84 | 0.8654 | 0.1477 | 04/30/2026 |
| 15 | Vanguard FTSE All World (ex-US) Index Fund | 1,758,733 | 106,014 | 171,195,070.22 | 0.1858 | 0.1239 | 04/30/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Vanguard Capital Management LLC | 24,125,658 | 24,125,658 | 2,348,391,549.72 | 0.041 | 1.6994 | 03/31/2026 |
| 2 | H&H International Investment LLC | 19,748,294 | 11,174,100 | 1,922,298,937.96 | 8.5449 | 1.3911 | 03/31/2026 |
| 3 | SG Americas Securities LLC | 6,301,820 | 6,000,370 | 613,419,158.8 | 0.5896 | 0.4439 | 03/31/2026 |
| 4 | Dodge & Cox | 4,537,600 | 4,537,600 | 441,689,984 | 0.1762 | 0.3196 | 03/31/2026 |
| 5 | UBS Asset Management (Americas) LLC | 3,946,040 | 3,946,040 | 384,107,533.6 | 0.1908 | 0.278 | 03/31/2026 |
| 6 | UBS Asset Management Switzerland AG | 3,314,950 | 3,314,950 | 322,677,233 | 0.0861 | 0.2335 | 03/31/2026 |
| 7 | JPMorgan Securities LLC (Investment Management) | 4,027,802 | 2,832,149 | 392,066,246.68 | 0.1873 | 0.2837 | 03/31/2026 |
| 8 | BlackRock Fund Advisors | 23,347,705 | 2,214,924 | 2,272,665,604.7 | 0.0445 | 1.6446 | 03/31/2026 |
| 9 | First Beijing Investment Ltd. | 8,149,162 | 1,980,441 | 793,239,429.08 | 21.0867 | 0.574 | 03/31/2026 |
| 10 | Greenwoods Investments SG Pte Ltd. | 5,103,804 | 1,746,840 | 496,804,281.36 | 10.4428 | 0.3595 | 03/31/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | The Vanguard Group, Inc. | 0 | -23,404,462 | 0 | 0 | 0 | |
| 2 | HSBC Bank Plc (Broker) | 314,620 | -8,411,567 | 30,625,110.8 | 0.0617 | 0.0222 | 03/31/2026 |
| 3 | Fidelity Management & Research Co. LLC | 4,602,290 | -7,555,329 | 447,986,908.6 | 0.0229 | 0.3242 | 03/31/2026 |
| 4 | Orbis Investment Management Ltd. | 1,744,048 | -5,198,291 | 169,765,632.32 | 0.4123 | 0.1229 | 03/31/2026 |
| 5 | Jane Street Capital LLC | 176,715 | -4,498,914 | 17,201,438.1 | 0.0161 | 0.0124 | 03/31/2026 |
| 6 | HHLR Advisors Ltd. | 4,977,945 | -4,418,709 | 484,553,166.3 | 3.6419 | 0.3506 | 03/31/2026 |
| 7 | Baillie Gifford & Co. | 28,353,099 | -3,445,904 | 2,759,890,656.66 | 1.6936 | 1.9972 | 03/31/2026 |
| 8 | FIAM LLC | 1,497,172 | -3,301,069 | 145,734,722.48 | 0.062 | 0.1055 | 03/31/2026 |
| 9 | SRS Investment Management LLC | 0 | -2,654,394 | 0 | 0 | 0 | |
| 10 | Fidelity Management & Research (Hong Kong) Ltd. | 338,777 | -2,615,700 | 32,976,553.18 | 0.1948 | 0.0239 | 03/31/2026 |
Data provided by FactSet Research Systems Inc.