| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | First Beijing Investment Ltd. | 62,864,424 | 21,828,379 | 161,561,569.68 | 4.9339 | 6.9102 | 09/30/2025 |
| 2 | The Vanguard Group, Inc. | 20,265,395 | -913,942 | 52,082,065.15 | 0.0007 | 2.2276 | 09/30/2025 |
| 3 | D. E. Shaw & Co. LP | 9,901,155 | 5,451,226 | 25,445,968.35 | 0.0209 | 1.0884 | 09/30/2025 |
| 4 | Perseverance Asset Management LP | 7,465,567 | -1,280,427 | 19,186,507.19 | 0.445 | 0.8206 | 09/30/2025 |
| 5 | Morgan Stanley & Co. LLC | 6,795,770 | 1,328,641 | 17,465,128.9 | 0.0061 | 0.747 | 09/30/2025 |
| 6 | Wildcat Capital Management LLC | 6,418,183 | -11,628,012 | 16,494,730.31 | 12.6186 | 0.7055 | 09/30/2025 |
| 7 | Oasis Management (Hong Kong) LLC | 6,346,816 | 624,151 | 16,311,317.12 | 2.5182 | 0.6977 | 09/30/2025 |
| 8 | Jane Street Capital LLC | 6,285,559 | 4,791,678 | 16,153,886.63 | 0.019 | 0.6909 | 09/30/2025 |
| 9 | BlackRock Fund Advisors | 6,253,796 | -143,411 | 16,072,255.72 | 0.0004 | 0.6874 | 09/30/2025 |
| 10 | Barclays Bank Plc (Private Banking) | 6,113,550 | -231,849 | 15,711,823.5 | 0.0026 | 0.672 | 09/30/2025 |
| 11 | Vanguard Fiduciary Trust Co. | 5,745,935 | -247,080 | 14,767,052.95 | 0.0036 | 0.6316 | 09/30/2025 |
| 12 | SSgA Funds Management, Inc. | 3,133,461 | -492,463 | 8,052,994.77 | 0.0003 | 0.3444 | 09/30/2025 |
| 13 | Mackenzie Financial Corp. | 3,003,851 | 3,003,851 | 7,719,897.07 | 0.0071 | 0.3302 | 09/30/2025 |
| 14 | Citadel Securities LLC | 2,494,695 | 731,540 | 6,411,366.15 | 0.0186 | 0.2742 | 09/30/2025 |
| 15 | Goldman Sachs & Co. LLC (Private Banking) | 2,404,512 | -6,005,816 | 6,179,595.84 | 0.0027 | 0.2643 | 09/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Vanguard Total International Stock Index Fund | 9,595,757 | -541,744 | 24,661,095.49 | 0.0044 | 1.0548 | 09/30/2025 |
| 2 | Vanguard Emerging Markets Stock Index Fund | 8,802,562 | -331,453 | 22,622,584.34 | 0.0156 | 0.9676 | 09/30/2025 |
| 3 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 4,973,571 | -247,080 | 12,782,077.47 | 0.0044 | 0.5467 | 09/30/2025 |
| 4 | iShares Core MSCI Emerging Markets ETF | 3,567,178 | -90,331 | 9,167,647.46 | 0.008 | 0.3921 | 10/31/2025 |
| 5 | Vanguard FTSE All World (ex-US) Index Fund | 1,399,931 | -98,216 | 3,597,822.67 | 0.0047 | 0.1539 | 09/30/2025 |
| 6 | SPDR Portfolio Emerging Markets ETF | 1,137,546 | 156,114 | 2,923,493.22 | 0.0198 | 0.125 | 10/31/2025 |
| 7 | Schwab Emerging Markets Equity ETF | 866,827 | 0 | 2,227,745.39 | 0.0192 | 0.0953 | 10/31/2025 |
| 8 | Banor SICAV - Greater China Equity | 838,609 | 0 | 2,155,225.13 | 1.9642 | 0.0922 | 03/31/2025 |
| 9 | iShares Core MSCI Total International Stock ETF | 779,362 | 50,181 | 2,002,960.34 | 0.0039 | 0.0857 | 10/31/2025 |
| 10 | Vanguard Institutional Total Intl. Stock Market Index Trust | 772,364 | 0 | 1,984,975.48 | 0.0046 | 0.0849 | 08/31/2025 |
| 11 | iShares plc - Core MSCI Emerging Markets IMI UCITS ETF | 638,087 | 29,399 | 1,639,883.59 | 0.0052 | 0.0701 | 10/31/2025 |
| 12 | Invesco Golden Dragon China ETF | 539,892 | -46,983 | 1,387,522.44 | 0.9352 | 0.0593 | 10/31/2025 |
| 13 | Vanguard Total World Stock Index Fund | 467,145 | 0 | 1,200,562.65 | 0.0017 | 0.0513 | 09/30/2025 |
| 14 | Franklin LibertyShares ICAV - FTSE China UCITS ETF | 437,235 | -13,197 | 1,123,693.95 | 0.0537 | 0.0481 | 10/31/2025 |
| 15 | CC&L UCITS ICAV - Q Emerging Markets Equity UCITS Fund | 419,668 | 111,476 | 1,078,546.76 | 0.0662 | 0.0461 | 10/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | First Beijing Investment Ltd. | 62,864,424 | 21,828,379 | 161,561,569.68 | 4.9339 | 6.9102 | 09/30/2025 |
| 2 | D. E. Shaw & Co. LP | 9,901,155 | 5,451,226 | 25,445,968.35 | 0.0209 | 1.0884 | 09/30/2025 |
| 3 | Jane Street Capital LLC | 6,285,559 | 4,791,678 | 16,153,886.63 | 0.019 | 0.6909 | 09/30/2025 |
| 4 | Mackenzie Financial Corp. | 3,003,851 | 3,003,851 | 7,719,897.07 | 0.0071 | 0.3302 | 09/30/2025 |
| 5 | Focus Partners Wealth LLC | 1,946,802 | 1,946,802 | 5,003,281.14 | 0.0078 | 0.214 | 09/30/2025 |
| 6 | Mariner LLC | 1,668,476 | 1,642,729 | 4,287,983.32 | 0.0054 | 0.1834 | 09/30/2025 |
| 7 | Morgan Stanley & Co. LLC | 6,795,770 | 1,328,641 | 17,465,128.9 | 0.0061 | 0.747 | 09/30/2025 |
| 8 | Marshall Wace LLP | 2,067,228 | 1,191,238 | 5,312,775.96 | 0.0058 | 0.2272 | 09/30/2025 |
| 9 | Arrowstreet Capital LP | 907,896 | 907,896 | 2,333,292.72 | 0.0014 | 0.0998 | 09/30/2025 |
| 10 | Assenagon Asset Management SA (Germany) | 867,842 | 867,842 | 2,230,353.94 | 0.003 | 0.0954 | 09/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Wildcat Capital Management LLC | 6,418,183 | -11,628,012 | 16,494,730.31 | 12.6186 | 0.7055 | 09/30/2025 |
| 2 | Bright Valley Capital Ltd. | 0 | -9,605,371 | 0 | 0 | 0 | |
| 3 | Goldman Sachs & Co. LLC (Private Banking) | 2,404,512 | -6,005,816 | 6,179,595.84 | 0.0027 | 0.2643 | 09/30/2025 |
| 4 | Nomura Global Financial Products, Inc. | 916,119 | -4,639,184 | 2,354,425.83 | 0.0167 | 0.1007 | 09/30/2025 |
| 5 | Millennium Management LLC | 179,557 | -2,801,614 | 461,461.49 | 0.0004 | 0.0197 | 09/30/2025 |
| 6 | Canada Pension Plan Investment Board | 0 | -2,474,784 | 0 | 0 | 0 | |
| 7 | Adero Partners LLC | 0 | -2,061,263 | 0 | 0 | 0 | |
| 8 | Bank of America, NA (Private Banking) | 85,883 | -1,903,070 | 220,719.31 | 0.0001 | 0.0094 | 09/30/2025 |
| 9 | JPMorgan Securities LLC (Investment Management) | 801,218 | -1,887,895 | 2,059,130.26 | 0.001 | 0.0881 | 09/30/2025 |
| 10 | Numeric Investors LLC | 0 | -1,625,373 | 0 | 0 | 0 |
Data provided by FactSet Research Systems Inc.