| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Schroder Investment Management North America, Inc. | 33,176,232 | -6,682,742 | 607,456,807.92 | 3.6118 | 4.6308 | 09/30/2025 |
| 2 | Schroder Investment Management Ltd. | 21,037,472 | 1,922,663 | 385,196,112.32 | 0.1574 | 2.9364 | 09/30/2025 |
| 3 | Krane Funds Advisors LLC | 19,020,641 | -4,963,988 | 348,267,936.71 | 3.1823 | 2.6549 | 09/30/2025 |
| 4 | Cantillon Capital Management LLC | 18,452,216 | -788,103 | 337,860,074.96 | 1.7831 | 2.5756 | 09/30/2025 |
| 5 | BlackRock Fund Advisors | 16,003,278 | -3,910,041 | 293,020,020.18 | 0.0063 | 2.2338 | 09/30/2025 |
| 6 | The Vanguard Group, Inc. | 15,181,360 | -6,582,816 | 277,970,701.6 | 0.0037 | 2.119 | 09/30/2025 |
| 7 | Baillie Gifford & Co. | 13,007,199 | -7,169,199 | 238,161,813.69 | 0.1293 | 1.8156 | 09/30/2025 |
| 8 | SSgA Funds Management, Inc. | 10,988,087 | -1,410,213 | 201,191,872.97 | 0.0066 | 1.5337 | 09/30/2025 |
| 9 | Capital Research & Management Co. (World Investors) | 10,469,475 | -3,589,408 | 191,696,087.25 | 0.0189 | 1.4613 | 09/30/2025 |
| 10 | Renaissance Technologies LLC | 9,596,990 | 1,543,700 | 175,720,886.9 | 0.2331 | 1.3396 | 09/30/2025 |
| 11 | JPMorgan Investment Management, Inc. | 9,462,567 | -430,278 | 173,259,601.77 | 0.0175 | 1.3208 | 09/30/2025 |
| 12 | Mawer Investment Management Ltd. | 8,382,139 | -2,602,012 | 153,476,965.09 | 0.3663 | 1.17 | 09/30/2025 |
| 13 | Fidelity Management & Research Co. LLC | 7,395,081 | 382,884 | 135,403,933.11 | 0.0075 | 1.0322 | 09/30/2025 |
| 14 | BlackRock Advisors (UK) Ltd. | 7,214,036 | 303,112 | 132,088,999.16 | 0.0146 | 1.0069 | 09/30/2025 |
| 15 | Schroder Investment Management (Singapore) Ltd. | 6,446,231 | 142,747 | 118,030,489.61 | 1.141 | 0.8998 | 09/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | KraneShares CSI China Internet ETF | 17,818,769 | -222,773 | 326,261,660.39 | 3.656 | 2.4872 | 11/28/2025 |
| 2 | Vanguard International Growth Fund | 9,957,944 | 0 | 182,329,954.64 | 0.3924 | 1.3899 | 08/31/2025 |
| 3 | American Funds New World Fund | 9,477,193 | -3,503,477 | 173,527,403.83 | 0.244 | 1.3228 | 09/30/2025 |
| 4 | Government Pension Fund - Global (The) | 7,780,768 | -3,569,946 | 142,465,862.08 | 0.0092 | 1.086 | 06/30/2025 |
| 5 | Hartford Schroders International Stock Fund | 7,614,858 | -2,758,433 | 139,428,049.98 | 1.4721 | 1.0629 | 10/31/2025 |
| 6 | Vanguard Total International Stock Index Fund | 7,200,418 | -3,295,414 | 131,839,653.58 | 0.0233 | 1.005 | 10/31/2025 |
| 7 | Vanguard Emerging Markets Stock Index Fund | 6,620,381 | -2,769,406 | 121,219,176.11 | 0.0839 | 0.9241 | 10/31/2025 |
| 8 | Fidelity Emerging Markets Fund | 5,736,525 | -916,300 | 105,035,772.75 | 1.1612 | 0.8007 | 10/31/2025 |
| 9 | iShares Core MSCI Emerging Markets ETF | 5,707,047 | -1,106,071 | 104,496,030.57 | 0.0924 | 0.7966 | 10/31/2025 |
| 10 | Schroder ISF - Asian Total Return | 4,825,029 | 0 | 88,346,280.99 | 1.6112 | 0.6735 | 10/31/2025 |
| 11 | JPMorgan Emerging Markets Equity Fund | 4,519,800 | -840,709 | 82,757,538 | 0.8904 | 0.6309 | 10/31/2025 |
| 12 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 3,747,708 | -1,646,234 | 68,620,533.48 | 0.0236 | 0.5231 | 10/31/2025 |
| 13 | Mawer International Equity Fund | 3,679,574 | -852,900 | 67,372,999.94 | 1.2568 | 0.5136 | 06/30/2025 |
| 14 | MFS International New Discovery Fund | 3,397,810 | 1,137,811 | 62,213,901.1 | 0.8283 | 0.4743 | 10/31/2025 |
| 15 | Strategic Advisers Fidelity Emerging Markets Fund | 2,863,684 | -1,715,268 | 52,434,054.04 | 0.1653 | 0.3997 | 10/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Robeco Institutional Asset Management BV | 5,319,631 | 5,220,270 | 97,402,443.61 | 0.0882 | 0.7425 | 09/30/2025 |
| 2 | T. Rowe Price Hong Kong Ltd. | 4,374,290 | 3,853,849 | 80,093,249.9 | 0.3046 | 0.6106 | 09/30/2025 |
| 3 | William Blair Investment Management LLC | 3,777,985 | 3,777,985 | 69,174,905.35 | 0.1506 | 0.5273 | 09/30/2025 |
| 4 | Driehaus Capital Management LLC | 2,984,661 | 2,984,661 | 54,649,142.91 | 0.283 | 0.4166 | 09/30/2025 |
| 5 | Jane Street Capital LLC | 3,425,070 | 2,773,431 | 62,713,031.7 | 0.0718 | 0.4781 | 09/30/2025 |
| 6 | Acadian Asset Management LLC | 2,750,193 | 2,700,013 | 50,356,033.83 | 0.0755 | 0.3839 | 09/30/2025 |
| 7 | Axiom Investors LLC | 2,420,710 | 2,420,710 | 44,323,200.1 | 0.2587 | 0.3379 | 09/30/2025 |
| 8 | Keystone Investors Pte Ltd. | 2,243,614 | 2,128,929 | 41,080,572.34 | 4.5633 | 0.3132 | 09/30/2025 |
| 9 | Schroder Investment Management Ltd. | 21,037,472 | 1,922,663 | 385,196,112.32 | 0.1574 | 2.9364 | 09/30/2025 |
| 10 | JPMorgan Asset Management (UK) Ltd. | 4,157,479 | 1,880,760 | 76,123,440.49 | 0.0476 | 0.5803 | 09/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Artisan Partners LP | 2,669,676 | -11,355,082 | 48,881,767.56 | 0.0385 | 0.3726 | 09/30/2025 |
| 2 | Invesco Asset Management Ltd. | 1,134,226 | -9,674,403 | 20,767,678.06 | 0.0216 | 0.1583 | 09/30/2025 |
| 3 | FIL Investments International | 487,238 | -8,636,186 | 8,921,327.78 | 0.0062 | 0.068 | 09/30/2025 |
| 4 | Baillie Gifford & Co. | 13,007,199 | -7,169,199 | 238,161,813.69 | 0.1293 | 1.8156 | 09/30/2025 |
| 5 | Schroder Investment Management North America, Inc. | 33,176,232 | -6,682,742 | 607,456,807.92 | 3.6118 | 4.6308 | 09/30/2025 |
| 6 | The Vanguard Group, Inc. | 15,181,360 | -6,582,816 | 277,970,701.6 | 0.0037 | 2.119 | 09/30/2025 |
| 7 | Krane Funds Advisors LLC | 19,020,641 | -4,963,988 | 348,267,936.71 | 3.1823 | 2.6549 | 09/30/2025 |
| 8 | Invesco Advisers, Inc. | 76,733 | -4,332,403 | 1,404,981.23 | 0.0006 | 0.0107 | 09/30/2025 |
| 9 | Invesco Hong Kong Ltd. | 478,029 | -4,242,769 | 8,752,710.99 | 0.2213 | 0.0667 | 09/30/2025 |
| 10 | BlackRock Fund Advisors | 16,003,278 | -3,910,041 | 293,020,020.18 | 0.0063 | 2.2338 | 09/30/2025 |
Data provided by FactSet Research Systems Inc.