| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Schroder Investment Management North America, Inc. | 39,858,974 | 2,096,760 | 846,206,018.02 | 4.5667 | 4.511 | 03/31/2025 |
| 2 | Krane Funds Advisors LLC | 23,984,629 | 4,128,678 | 509,193,673.67 | 5.5287 | 2.7144 | 03/31/2025 |
| 3 | The Vanguard Group, Inc. | 21,764,176 | 125,890 | 462,053,456.48 | 0.0065 | 2.4631 | 03/31/2025 |
| 4 | Baillie Gifford & Co. | 20,176,398 | -783,181 | 428,344,929.54 | 0.2107 | 2.2834 | 03/31/2025 |
| 5 | BlackRock Fund Advisors | 19,913,319 | -542,938 | 422,759,762.37 | 0.0099 | 2.2537 | 03/31/2025 |
| 6 | Cantillon Capital Management LLC | 19,240,319 | -2,600,496 | 408,471,972.37 | 2.1572 | 2.1775 | 03/31/2025 |
| 7 | Schroder Investment Management Ltd. | 19,114,809 | 1,397,956 | 405,807,395.07 | 0.1829 | 2.1633 | 03/31/2025 |
| 8 | Capital Research & Management Co. (World Investors) | 14,058,883 | 9,356,530 | 298,470,086.09 | 0.0314 | 1.5911 | 03/31/2025 |
| 9 | Artisan Partners LP | 14,024,758 | 4,066,038 | 297,745,612.34 | 0.2364 | 1.5872 | 03/31/2025 |
| 10 | SSgA Funds Management, Inc. | 12,398,300 | -242,358 | 263,215,909 | 0.0093 | 1.4032 | 03/31/2025 |
| 11 | Mawer Investment Management Ltd. | 10,984,151 | -483,259 | 233,193,525.73 | 0.4888 | 1.2431 | 03/31/2025 |
| 12 | Invesco Asset Management Ltd. | 10,808,629 | -2,037,257 | 229,467,193.67 | 0.2438 | 1.2232 | 03/31/2025 |
| 13 | JPMorgan Investment Management, Inc. | 9,892,845 | 3,567,024 | 210,025,099.35 | 0.0229 | 1.1196 | 03/31/2025 |
| 14 | FIL Investments International | 9,123,424 | 9,123,424 | 193,690,291.52 | 0.145 | 1.0325 | 03/31/2025 |
| 15 | Norges Bank Investment Management | 8,769,945 | 0 | 186,185,932.35 | 0.0129 | 0.9925 | 12/31/2024 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | KraneShares CSI China Internet ETF | 13,785,971 | -4,772,129 | 292,676,164.33 | 4.2756 | 1.5602 | 06/30/2025 |
| 2 | Government Pension Fund - Global (The) | 11,350,714 | 0 | 240,975,658.22 | 0.0156 | 1.2846 | 12/31/2024 |
| 3 | American Funds New World Fund | 11,262,676 | 6,846,387 | 239,106,611.48 | 0.36 | 1.2746 | 06/30/2025 |
| 4 | Hartford Schroders International Stock Fund | 10,373,291 | 776,856 | 220,224,967.93 | 2.5875 | 1.174 | 05/31/2025 |
| 5 | Vanguard International Growth Fund | 8,587,275 | 0 | 182,307,848.25 | 0.3722 | 0.9718 | 02/28/2025 |
| 6 | Vanguard Total International Stock Index Fund | 7,174,340 | -3,140,756 | 152,311,238.2 | 0.0283 | 0.8119 | 06/30/2025 |
| 7 | iShares Core MSCI Emerging Markets ETF | 6,965,028 | 431,674 | 147,867,544.44 | 0.1495 | 0.7883 | 06/30/2025 |
| 8 | Fidelity Emerging Markets Fund | 6,652,825 | 552,100 | 141,239,474.75 | 1.721 | 0.7529 | 05/31/2025 |
| 9 | Vanguard Emerging Markets Stock Index Fund | 6,559,289 | -2,813,977 | 139,253,705.47 | 0.1055 | 0.7423 | 06/30/2025 |
| 10 | JPMorgan Emerging Markets Equity Fund | 5,360,509 | 2,398,045 | 113,803,606.07 | 1.6148 | 0.6067 | 05/31/2025 |
| 11 | State Board of Administration of Florida Retirement System | 5,063,862 | 401,917 | 107,505,790.26 | 0.0983 | 0.5731 | 03/31/2025 |
| 12 | Schroder ISF - Asian Total Return | 4,825,029 | -250,000 | 102,435,365.67 | 1.9206 | 0.5461 | 05/31/2025 |
| 13 | Strategic Advisers Fidelity Emerging Markets Fund | 4,578,952 | 2,772,652 | 97,211,150.96 | 0.3545 | 0.5182 | 05/31/2025 |
| 14 | BOCOM Schroder CSI Overseas China Internet Index Fund | 3,790,473 | 0 | 80,471,741.79 | 5.2734 | 0.429 | 12/31/2024 |
| 15 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 3,710,182 | -1,492,010 | 78,767,163.86 | 0.0287 | 0.4199 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Capital Research & Management Co. (World Investors) | 14,058,883 | 9,356,530 | 298,470,086.09 | 0.0314 | 1.5911 | 03/31/2025 |
| 2 | FIL Investments International | 9,123,424 | 9,123,424 | 193,690,291.52 | 0.145 | 1.0325 | 03/31/2025 |
| 3 | Krane Funds Advisors LLC | 23,984,629 | 4,128,678 | 509,193,673.67 | 5.5287 | 2.7144 | 03/31/2025 |
| 4 | Artisan Partners LP | 14,024,758 | 4,066,038 | 297,745,612.34 | 0.2364 | 1.5872 | 03/31/2025 |
| 5 | Morgan Stanley & Co. LLC | 4,700,540 | 3,626,869 | 99,792,464.2 | 0.0343 | 0.532 | 03/31/2025 |
| 6 | JPMorgan Investment Management, Inc. | 9,892,845 | 3,567,024 | 210,025,099.35 | 0.0229 | 1.1196 | 03/31/2025 |
| 7 | Marathon Asset Management Ltd. | 3,276,573 | 3,276,573 | 69,561,644.79 | 0.4198 | 0.3708 | 03/31/2025 |
| 8 | FIL Investment Advisors (UK) Ltd. | 3,275,701 | 3,275,701 | 69,543,132.23 | 0.2295 | 0.3707 | 03/31/2025 |
| 9 | Invesco Advisers, Inc. | 4,409,136 | 2,458,707 | 93,605,957.28 | 0.0384 | 0.499 | 03/31/2025 |
| 10 | Massachusetts Financial Services Co. | 2,109,862 | 2,109,862 | 44,792,370.26 | 0.0137 | 0.2388 | 03/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Citigroup Global Markets, Inc. (Investment Management) | 394,057 | -3,489,813 | 8,365,830.11 | 0.0068 | 0.0446 | 03/31/2025 |
| 2 | Cantillon Capital Management LLC | 19,240,319 | -2,600,496 | 408,471,972.37 | 2.1572 | 2.1775 | 03/31/2025 |
| 3 | Invesco Hong Kong Ltd. | 4,720,798 | -2,318,359 | 100,222,541.54 | 2.2736 | 0.5343 | 03/31/2025 |
| 4 | Invesco Asset Management Ltd. | 10,808,629 | -2,037,257 | 229,467,193.67 | 0.2438 | 1.2232 | 03/31/2025 |
| 5 | William Blair Investment Management LLC | 0 | -1,902,836 | 0 | 0 | 0 | |
| 6 | Balyasny Asset Management LP | 42,450 | -1,881,781 | 901,213.5 | 0.0021 | 0.0048 | 03/31/2025 |
| 7 | Contrarius Investment Management Ltd. | 260,782 | -1,878,048 | 5,536,401.86 | 0.2655 | 0.0295 | 03/31/2025 |
| 8 | Vanguard Global Advisers LLC | 0 | -1,810,822 | 0 | 0 | 0 | |
| 9 | OLP Capital Management Ltd. | 0 | -1,595,852 | 0 | 0 | 0 | |
| 10 | Veritas Asset Management LLP | 1,507,402 | -1,510,293 | 32,002,144.46 | 0.1588 | 0.1706 | 03/31/2025 |
Data provided by FactSet Research Systems Inc.