| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Schroder & Co. Ltd. | 39,902,355 | 39,902,355 | 907,379,552.7 | 7.0961 | 4.5159 | 06/30/2025 |
| 2 | BlackRock Fund Advisors | 19,172,339 | -740,980 | 435,978,988.86 | 0.0097 | 2.1698 | 06/30/2025 |
| 3 | Cantillon Capital Management LLC | 18,687,995 | -552,324 | 424,965,006.3 | 2.2093 | 2.115 | 06/30/2025 |
| 4 | Schroder Investment Management North America, Inc. | 17,280,036 | -22,578,938 | 392,948,018.64 | 0.4082 | 1.9556 | 06/30/2025 |
| 5 | Baillie Gifford & Co. | 16,813,324 | -3,363,074 | 382,334,987.76 | 0.1901 | 1.9028 | 06/30/2025 |
| 6 | Krane Funds Advisors LLC | 15,164,231 | -8,820,398 | 344,834,612.94 | 3.3219 | 1.7162 | 06/30/2025 |
| 7 | The Vanguard Group, Inc. | 15,127,137 | -6,637,039 | 343,991,095.38 | 0.0045 | 1.712 | 06/30/2025 |
| 8 | SSgA Funds Management, Inc. | 12,553,992 | 155,692 | 285,477,778.08 | 0.0095 | 1.4208 | 06/30/2025 |
| 9 | Capital Research & Management Co. (World Investors) | 12,305,461 | -1,753,422 | 279,826,183.14 | 0.0279 | 1.3926 | 06/30/2025 |
| 10 | JPMorgan Investment Management, Inc. | 11,102,375 | 1,209,530 | 252,468,007.5 | 0.0261 | 1.2565 | 06/30/2025 |
| 11 | Mawer Investment Management Ltd. | 10,145,806 | -838,345 | 230,715,628.44 | 0.5286 | 1.1482 | 06/30/2025 |
| 12 | Fidelity Management & Research Co. LLC | 9,536,581 | 2,524,384 | 216,861,851.94 | 0.0121 | 1.0793 | 06/30/2025 |
| 13 | Renaissance Technologies LLC | 8,363,490 | 310,200 | 190,185,762.6 | 0.2339 | 0.9465 | 06/30/2025 |
| 14 | BlackRock Advisors (UK) Ltd. | 7,438,273 | 527,349 | 169,146,328.02 | 0.0194 | 0.8418 | 06/30/2025 |
| 15 | FIAM LLC | 7,402,118 | 4,156,780 | 168,324,163.32 | 0.0918 | 0.8377 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | KraneShares CSI China Internet ETF | 17,137,907 | -5,145,595 | 389,716,005.18 | 4.2098 | 1.9395 | 09/30/2025 |
| 2 | Vanguard International Growth Fund | 9,957,944 | 1,370,669 | 226,443,646.56 | 0.4629 | 1.127 | 05/31/2025 |
| 3 | American Funds New World Fund | 9,477,193 | -3,503,477 | 215,511,368.82 | 0.3052 | 1.0726 | 09/30/2025 |
| 4 | Government Pension Fund - Global (The) | 7,780,768 | -3,569,946 | 176,934,664.32 | 0.0115 | 0.8806 | 06/30/2025 |
| 5 | JPMorgan Emerging Markets Equity Fund | 7,450,478 | 2,089,969 | 169,423,869.72 | 1.7908 | 0.8432 | 08/31/2025 |
| 6 | Hartford Schroders International Stock Fund | 7,333,465 | -2,690,946 | 166,762,994.1 | 1.7885 | 0.83 | 08/31/2025 |
| 7 | Vanguard Total International Stock Index Fund | 7,189,793 | -3,124,902 | 163,495,892.82 | 0.0289 | 0.8137 | 09/30/2025 |
| 8 | Vanguard Emerging Markets Stock Index Fund | 6,558,741 | -2,826,951 | 149,145,770.34 | 0.1031 | 0.7423 | 09/30/2025 |
| 9 | Fidelity Emerging Markets Fund | 5,933,025 | -346,900 | 134,916,988.5 | 1.4442 | 0.6715 | 08/31/2025 |
| 10 | iShares Core MSCI Emerging Markets ETF | 5,674,487 | -1,128,039 | 129,037,834.38 | 0.1142 | 0.6422 | 09/30/2025 |
| 11 | Schroder ISF - Asian Total Return | 4,825,029 | -250,000 | 109,721,159.46 | 1.9127 | 0.5461 | 08/31/2025 |
| 12 | Vanguard Institutional Total Intl. Stock Market Index Tr. II | 3,725,551 | -1,638,477 | 84,719,029.74 | 0.0295 | 0.4216 | 08/31/2025 |
| 13 | Mawer International Equity Fund | 3,679,574 | -852,900 | 83,673,512.76 | 1.5128 | 0.4164 | 06/30/2025 |
| 14 | Strategic Advisers Fidelity Emerging Markets Fund | 3,389,359 | -1,484,867 | 77,074,023.66 | 0.248 | 0.3836 | 08/31/2025 |
| 15 | Stichting Pensioenfonds ABP (Global Equity Portfolio) | 3,187,669 | 0 | 72,487,593.06 | 0.0173 | 0.3608 | 12/31/2023 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Schroder & Co. Ltd. | 39,902,355 | 39,902,355 | 907,379,552.7 | 7.0961 | 4.5159 | 06/30/2025 |
| 2 | T. Rowe Price International Ltd. | 6,945,148 | 6,912,745 | 157,932,665.52 | 0.0946 | 0.786 | 06/30/2025 |
| 3 | Schroder Investment Management (Taiwan) Ltd. | 6,192,076 | 6,192,076 | 140,807,808.24 | 13.2537 | 0.7008 | 06/30/2025 |
| 4 | FIAM LLC | 7,402,118 | 4,156,780 | 168,324,163.32 | 0.0918 | 0.8377 | 06/30/2025 |
| 5 | Driehaus Capital Management LLC | 3,444,934 | 3,444,934 | 78,337,799.16 | 0.4081 | 0.3899 | 06/30/2025 |
| 6 | Keystone Investors Pte Ltd. | 3,525,623 | 3,410,938 | 80,172,667.02 | 14.7701 | 0.399 | 06/30/2025 |
| 7 | Fidelity Management & Research Co. LLC | 9,536,581 | 2,524,384 | 216,861,851.94 | 0.0121 | 1.0793 | 06/30/2025 |
| 8 | Jane Street Capital LLC | 2,988,549 | 2,336,910 | 67,959,604.26 | 0.0926 | 0.3382 | 06/30/2025 |
| 9 | Schroder Investment Management (Hong Kong) Ltd. | 3,351,434 | 2,167,598 | 76,211,609.16 | 0.196 | 0.3793 | 06/30/2025 |
| 10 | Robeco Institutional Asset Management BV | 1,935,048 | 1,835,687 | 44,002,991.52 | 0.0413 | 0.219 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Schroder Investment Management North America, Inc. | 17,280,036 | -22,578,938 | 392,948,018.64 | 0.4082 | 1.9556 | 06/30/2025 |
| 2 | Schroder Investment Management Ltd. | 0 | -19,114,809 | 0 | 0 | 0 | |
| 3 | Artisan Partners LP | 2,578,006 | -11,446,752 | 58,623,856.44 | 0.0446 | 0.2918 | 06/30/2025 |
| 4 | Krane Funds Advisors LLC | 15,164,231 | -8,820,398 | 344,834,612.94 | 3.3219 | 1.7162 | 06/30/2025 |
| 5 | FIL Investments International | 352,166 | -8,771,258 | 8,008,254.84 | 0.0056 | 0.0399 | 06/30/2025 |
| 6 | The Vanguard Group, Inc. | 15,127,137 | -6,637,039 | 343,991,095.38 | 0.0045 | 1.712 | 06/30/2025 |
| 7 | Invesco Asset Management Ltd. | 4,823,112 | -5,985,517 | 109,677,566.88 | 0.1228 | 0.5458 | 06/30/2025 |
| 8 | Schroder Investment Management (Singapore) Ltd. | 1,222,297 | -5,077,187 | 27,795,033.78 | 0.2606 | 0.1383 | 06/30/2025 |
| 9 | Invesco Hong Kong Ltd. | 545,175 | -4,175,623 | 12,397,279.5 | 0.2965 | 0.0617 | 06/30/2025 |
| 10 | Morgan Stanley & Co. LLC | 779,633 | -3,920,907 | 17,728,854.42 | 0.0059 | 0.0882 | 06/30/2025 |
Data provided by FactSet Research Systems Inc.