| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Krane Funds Advisors LLC | 5,669,691 | 597,041 | 70,077,380.76 | 0.8724 | 4.3551 | 12/31/2025 |
| 2 | The Vanguard Group, Inc. | 3,308,892 | -80,869 | 40,897,905.12 | 0.0006 | 2.5417 | 12/31/2025 |
| 3 | Greenwoods Investments SG Pte Ltd. | 3,295,438 | 0 | 40,731,613.68 | 1.1828 | 2.5313 | 12/31/2025 |
| 4 | BlackRock Fund Advisors | 3,197,028 | 221,221 | 39,515,266.08 | 0.0009 | 2.4558 | 12/31/2025 |
| 5 | Triata Capital Ltd. | 3,125,331 | 3,019,200 | 38,629,091.16 | 5.2168 | 2.4007 | 12/31/2025 |
| 6 | Acadian Asset Management LLC | 2,939,991 | -2,160,500 | 36,338,288.76 | 0.0545 | 2.2583 | 12/31/2025 |
| 7 | SSgA Funds Management, Inc. | 2,222,847 | -325,812 | 27,474,388.92 | 0.0009 | 1.7075 | 12/31/2025 |
| 8 | Morgan Stanley Investment Management, Inc. | 1,962,100 | -907,856 | 24,251,556 | 0.0281 | 1.5072 | 12/31/2025 |
| 9 | Citigroup Global Markets, Inc. (Investment Management) | 1,840,203 | 404,836 | 22,744,909.08 | 0.0177 | 1.4135 | 12/31/2025 |
| 10 | Dimensional Fund Advisors LP | 1,771,851 | 120,250 | 21,900,078.36 | 0.0033 | 1.361 | 12/31/2025 |
| 11 | BlackRock Investment Management (UK) Ltd. | 1,726,104 | 1,419,858 | 21,334,645.44 | 0.0027 | 1.3259 | 12/31/2025 |
| 12 | Goldman Sachs & Co. LLC (Private Banking) | 1,691,514 | 283,471 | 20,907,113.04 | 0.01 | 1.2993 | 12/31/2025 |
| 13 | Swedbank Robur Fonder AB | 1,660,064 | 323,664 | 20,518,391.04 | 0.0117 | 1.2752 | 12/31/2025 |
| 14 | Norges Bank Investment Management | 1,579,428 | 581,615 | 19,521,730.08 | 0.0013 | 1.2132 | 12/31/2025 |
| 15 | D. E. Shaw & Co. LP | 1,573,223 | 1,573,223 | 19,445,036.28 | 0.016 | 1.2085 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | KraneShares CSI China Internet ETF | 4,690,131 | -802,547 | 57,970,019.16 | 0.9413 | 3.6027 | 02/27/2026 |
| 2 | Morgan Stanley Invt. Fds. - Asia Opportunity Fund | 1,693,407 | -806,513 | 20,930,510.52 | 0.8499 | 1.3008 | 12/31/2025 |
| 3 | Vanguard Total International Stock Index Fund | 1,508,506 | -69,074 | 18,645,134.16 | 0.0032 | 1.1587 | 02/28/2026 |
| 4 | Vanguard Emerging Markets Stock Index Fund | 1,433,168 | -5,345 | 17,713,956.48 | 0.0118 | 1.1009 | 02/28/2026 |
| 5 | Swedbank Robur Global Emerging Markets | 1,329,500 | 0 | 16,432,620 | 0.8055 | 1.0212 | 02/27/2026 |
| 6 | iShares Core MSCI Emerging Markets ETF | 1,133,134 | 139,896 | 14,005,536.24 | 0.0107 | 0.8704 | 02/27/2026 |
| 7 | BlackRock Global Funds - World Financials Fund | 1,122,736 | 1,122,736 | 13,877,016.96 | 0.6014 | 0.8624 | 02/28/2026 |
| 8 | DFA Emerging Markets Core Equity 2 Portfolio | 1,029,222 | 0 | 12,721,183.92 | 0.0366 | 0.7906 | 12/31/2025 |
| 9 | Avantis Emerging Markets Equity ETF | 957,919 | 314,928 | 11,839,878.84 | 0.061 | 0.7358 | 02/27/2026 |
| 10 | BOCOM Schroder CSI Overseas China Internet Index Fund | 781,753 | 0 | 9,662,467.08 | 0.9648 | 0.6005 | 06/30/2025 |
| 11 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 755,544 | -61,734 | 9,338,523.84 | 0.0032 | 0.5804 | 02/28/2026 |
| 12 | Artemis Smart GARP Global Emerging Markets Equity Fund | 641,800 | 0 | 7,932,648 | 0.2817 | 0.493 | 08/31/2025 |
| 13 | Man Funds Plc - Asia ex Japan Equity | 587,782 | 0 | 7,264,985.52 | 0.6298 | 0.4515 | 06/30/2025 |
| 14 | E Fund CSI Overseas China Internet 50 ETF | 489,926 | 0 | 6,055,485.36 | 0.1437 | 0.3763 | 06/30/2025 |
| 15 | KraneShares ICAV - CSI China Internet UCITS ETF | 483,019 | 3,237 | 5,970,114.84 | 0.9641 | 0.371 | 02/27/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Triata Capital Ltd. | 3,125,331 | 3,019,200 | 38,629,091.16 | 5.2168 | 2.4007 | 12/31/2025 |
| 2 | D. E. Shaw & Co. LP | 1,573,223 | 1,573,223 | 19,445,036.28 | 0.016 | 1.2085 | 12/31/2025 |
| 3 | BlackRock Investment Management (UK) Ltd. | 1,726,104 | 1,419,858 | 21,334,645.44 | 0.0027 | 1.3259 | 12/31/2025 |
| 4 | Voloridge Investment Management LLC | 1,163,392 | 1,163,392 | 14,379,525.12 | 0.053 | 0.8936 | 12/31/2025 |
| 5 | BofA Securities, Inc. | 1,084,489 | 1,072,275 | 13,404,284.04 | 0.022 | 0.833 | 12/31/2025 |
| 6 | M&G Investment Management Ltd. | 701,640 | 701,640 | 8,672,270.4 | 0.0115 | 0.539 | 12/31/2025 |
| 7 | BNP Paribas Financial Markets | 947,274 | 644,936 | 11,708,306.64 | 0.0078 | 0.7276 | 12/31/2025 |
| 8 | Krane Funds Advisors LLC | 5,669,691 | 597,041 | 70,077,380.76 | 0.8724 | 4.3551 | 12/31/2025 |
| 9 | Norges Bank Investment Management | 1,579,428 | 581,615 | 19,521,730.08 | 0.0013 | 1.2132 | 12/31/2025 |
| 10 | Pictet Asset Management SA | 638,080 | 497,180 | 7,886,668.8 | 0.0055 | 0.4901 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | OLP Capital Management Ltd. | 0 | -6,580,592 | 0 | 0 | 0 | |
| 2 | AllianceBernstein LP | 0 | -3,457,824 | 0 | 0 | 0 | |
| 3 | AQR Capital Management LLC | 0 | -2,619,066 | 0 | 0 | 0 | |
| 4 | Acadian Asset Management LLC | 2,939,991 | -2,160,500 | 36,338,288.76 | 0.0545 | 2.2583 | 12/31/2025 |
| 5 | Point72 Asset Management LP | 0 | -1,612,407 | 0 | 0 | 0 | |
| 6 | UBS Securities LLC | 600,528 | -1,309,018 | 7,422,526.08 | 0.0033 | 0.4613 | 12/31/2025 |
| 7 | Numeric Investors LLC | 524,687 | -1,295,831 | 6,485,131.32 | 0.0171 | 0.403 | 12/31/2025 |
| 8 | Man Investments Australia Ltd. | 0 | -1,151,580 | 0 | 0 | 0 | |
| 9 | Arrowstreet Capital LP | 0 | -1,133,583 | 0 | 0 | 0 | |
| 10 | Yunqi Capital Ltd. | 0 | -1,024,630 | 0 | 0 | 0 |
Data provided by FactSet Research Systems Inc.