#	Issuer	Ticker	Shares	Value	% of Portfolio
1	PDD HOLDINGS INC	PDD	6,397,960	$725.5M	24.18%
2	TENCENT MUSIC ENTMT GROUP	XHLD	20,047,192	$351.4M	11.71%
3	FULL TRUCK ALLIANCE CO LTD	YMM	32,100,736	$344.4M	11.48%
4	KANZHUN LIMITED	BZ	16,060,290	$327.3M	10.91%
5	TAL EDUCATION GROUP	TAL	21,231,472	$231.6M	7.72%
6	VIPSHOP HLDGS LTD	VIPS	12,793,590	$226.3M	7.54%
7	KRANESHARES TRUST	500767355	7,553,700	$189.3M	6.31%
8	KRANESHARES TRUST	500767306	3,856,700	$131.3M	4.38%
9	QFIN HOLDINGS INC	QFNHF	5,669,691	$109.3M	3.64%
10	JOYY INC	JOYY	1,320,319	$85.5M	2.85%
11	AUTOHOME INC	ATHM	3,095,012	$68.9M	2.30%
12	SPDR S&P 500 ETF TR	SPY	80,400	$54.8M	1.83%
13	WEIBO CORP	WEIBF	4,274,081	$43.7M	1.46%
14	TESLA INC	TSLA	22,344	$10.0M	0.33%
15	NVIDIA CORPORATION	NVDA	39,268	$7.3M	0.24%
16	MICROSOFT CORP	MSFT	13,490	$6.5M	0.22%
17	META PLATFORMS INC	META	8,354	$5.5M	0.18%
18	AMAZON COM INC	AMZN	19,003	$4.4M	0.15%
19	ALPHABET INC	GOOG	12,262	$3.8M	0.13%
20	SERVICENOW INC	NOW	24,233	$3.7M	0.12%