| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Krane Funds Advisors LLC | 21,231,472 | 2,843,111 | 232,696,933.12 | 2.3902 | 4.6069 | 12/31/2025 |
| 2 | BlackRock Fund Advisors | 16,544,324 | 3,088,549 | 181,325,791.04 | 0.0037 | 3.5899 | 12/31/2025 |
| 3 | Fidelity Management & Research Co. LLC | 13,486,793 | -1,884,922 | 147,815,251.28 | 0.008 | 2.9264 | 12/31/2025 |
| 4 | The Vanguard Group, Inc. | 12,705,393 | 192,550 | 139,251,107.28 | 0.0018 | 2.7569 | 12/31/2025 |
| 5 | Morgan Stanley & Co. LLC | 12,608,069 | -3,449,658 | 138,184,436.24 | 0.0483 | 2.7358 | 12/31/2025 |
| 6 | CoreView Capital Management Ltd. | 10,997,165 | 3,990,000 | 120,528,928.4 | 17.0138 | 2.3862 | 12/31/2025 |
| 7 | UBS Asset Management (Americas) LLC | 9,020,426 | 6,650,836 | 98,863,868.96 | 0.0616 | 1.9573 | 12/31/2025 |
| 8 | Bank of America, NA (Private Banking) | 8,816,492 | -443,041 | 96,628,752.32 | 0.0285 | 1.913 | 12/31/2025 |
| 9 | UBS Asset Management Switzerland AG | 8,780,780 | -1,052,057 | 96,237,348.8 | 0.026 | 1.9053 | 12/31/2025 |
| 10 | Tiger Pacific Capital LP | 7,977,772 | -1,255,626 | 87,436,381.12 | 24.2436 | 1.7311 | 12/31/2025 |
| 11 | SSgA Funds Management, Inc. | 7,818,834 | 282,163 | 85,694,420.64 | 0.0027 | 1.6966 | 12/31/2025 |
| 12 | FIAM LLC | 7,076,844 | 15,147 | 77,562,210.24 | 0.0368 | 1.5356 | 12/31/2025 |
| 13 | UBS Asset Management (Hong Kong) Ltd. | 6,079,691 | -541,300 | 66,633,413.36 | 0.7788 | 1.3192 | 10/31/2025 |
| 14 | Arrowstreet Capital LP | 5,848,885 | 5,737,032 | 64,103,779.6 | 0.0339 | 1.2691 | 12/31/2025 |
| 15 | BlackRock Advisors (UK) Ltd. | 5,844,639 | 1,561,353 | 64,057,243.44 | 0.0066 | 1.2682 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | KraneShares CSI China Internet ETF | 19,203,690 | -104,025 | 210,472,442.4 | 2.7151 | 4.1669 | 01/30/2026 |
| 2 | Fidelity Advisor Focused Emerging Markets Fund | 6,766,941 | -1,292,200 | 74,165,673.36 | 0.6673 | 1.4683 | 12/31/2025 |
| 3 | Vanguard Total International Stock Index Fund | 5,938,963 | 54,893 | 65,091,034.48 | 0.0101 | 1.2887 | 01/31/2026 |
| 4 | Vanguard Emerging Markets Stock Index Fund | 5,579,326 | 122,891 | 61,149,412.96 | 0.0378 | 1.2106 | 01/31/2026 |
| 5 | iShares Core MSCI Emerging Markets ETF | 4,559,247 | 651,341 | 49,969,347.12 | 0.0344 | 0.9893 | 01/30/2026 |
| 6 | Macquarie Emerging Markets Fund | 4,301,962 | -1,059,774 | 47,149,503.52 | 0.4182 | 0.9335 | 12/31/2025 |
| 7 | Government Pension Fund - Global (The) | 4,024,110 | 0 | 44,104,245.6 | 0.0027 | 0.8732 | 06/30/2025 |
| 8 | Strategic Advisers Fidelity Emerging Markets Fund | 3,553,400 | -223,600 | 38,945,264 | 0.1024 | 0.771 | 12/31/2025 |
| 9 | UBS Lux Equity Fund - China Opportunity USD | 3,336,123 | -167,500 | 36,563,908.08 | 1.0668 | 0.7239 | 10/31/2025 |
| 10 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 3,090,823 | 41,466 | 33,875,420.08 | 0.0104 | 0.6707 | 12/31/2025 |
| 11 | BOCOM Schroder CSI Overseas China Internet Index Fund | 2,822,732 | 0 | 30,937,142.72 | 2.7116 | 0.6125 | 06/30/2025 |
| 12 | KraneShares ICAV - CSI China Internet UCITS ETF | 2,219,622 | 564,349 | 24,327,057.12 | 2.7787 | 0.4816 | 01/30/2026 |
| 13 | iShares IV Plc - MSCI China Tech UCITS ETF | 1,967,556 | 888,896 | 21,564,413.76 | 0.9196 | 0.4269 | 01/30/2026 |
| 14 | E Fund CSI Overseas China Internet 50 ETF | 1,761,192 | 0 | 19,302,664.32 | 0.4065 | 0.3822 | 06/30/2025 |
| 15 | UBS Lux Equity SICAV - All China USD | 1,729,354 | -373,800 | 18,953,719.84 | 1.3999 | 0.3752 | 10/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | UBS Asset Management (Americas) LLC | 9,020,426 | 6,650,836 | 98,863,868.96 | 0.0616 | 1.9573 | 12/31/2025 |
| 2 | Arrowstreet Capital LP | 5,848,885 | 5,737,032 | 64,103,779.6 | 0.0339 | 1.2691 | 12/31/2025 |
| 3 | Serenity Capital Management Pte Ltd. | 4,730,377 | 4,701,422 | 51,844,931.92 | 12.766 | 1.0264 | 12/31/2025 |
| 4 | CoreView Capital Management Ltd. | 10,997,165 | 3,990,000 | 120,528,928.4 | 17.0138 | 2.3862 | 12/31/2025 |
| 5 | BlackRock Fund Advisors | 16,544,324 | 3,088,549 | 181,325,791.04 | 0.0037 | 3.5899 | 12/31/2025 |
| 6 | Krane Funds Advisors LLC | 21,231,472 | 2,843,111 | 232,696,933.12 | 2.3902 | 4.6069 | 12/31/2025 |
| 7 | Acadian Asset Management LLC | 3,231,662 | 2,303,776 | 35,419,015.52 | 0.0483 | 0.7012 | 12/31/2025 |
| 8 | Capitolis Liquid Global Markets LLC | 4,779,700 | 1,995,800 | 52,385,512 | 0.3153 | 1.0371 | 12/31/2025 |
| 9 | BlackRock Advisors (UK) Ltd. | 5,844,639 | 1,561,353 | 64,057,243.44 | 0.0066 | 1.2682 | 12/31/2025 |
| 10 | JPMorgan Mansart Management Ltd. | 971,613 | 971,613 | 10,648,878.48 | 0.0598 | 0.2108 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Healthcare of Ontario Pension Plan | 3,112,200 | -8,214,600 | 34,109,712 | 0.0556 | 0.6753 | 12/31/2025 |
| 2 | Morgan Stanley & Co. LLC | 12,608,069 | -3,449,658 | 138,184,436.24 | 0.0483 | 2.7358 | 12/31/2025 |
| 3 | BofA Securities, Inc. | 1,807,009 | -2,852,380 | 19,804,818.64 | 0.0301 | 0.3921 | 12/31/2025 |
| 4 | Renaissance Technologies LLC | 0 | -2,029,200 | 0 | 0 | 0 | |
| 5 | Fidelity Management & Research Co. LLC | 13,486,793 | -1,884,922 | 147,815,251.28 | 0.008 | 2.9264 | 12/31/2025 |
| 6 | JPMorgan Securities LLC (Investment Management) | 401,698 | -1,770,007 | 4,402,610.08 | 0.0029 | 0.0872 | 12/31/2025 |
| 7 | Monolith Management Ltd. (Hong Kong) | 543,252 | -1,580,779 | 5,954,041.92 | 2.542 | 0.1179 | 12/31/2025 |
| 8 | HCEP Management Ltd. | 0 | -1,536,024 | 0 | 0 | 0 | |
| 9 | D. E. Shaw & Co. LP | 69,050 | -1,320,957 | 756,788 | 0.0006 | 0.015 | 12/31/2025 |
| 10 | Tiger Pacific Capital LP | 7,977,772 | -1,255,626 | 87,436,381.12 | 24.2436 | 1.7311 | 12/31/2025 |
Data provided by FactSet Research Systems Inc.