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| # | Issuer | Value | Shares | % Portfolio |
|---|---|---|---|---|
| 1 | PDD HOLDINGS INC | $832.7M | 8149162 | 35.91% |
| 2 | FULL TRUCK ALLIANCE CO LTD | $747.0M | 90000895 | 32.22% |
| 3 | NEW ORIENTAL ED & TECHNOLOGY | $509.4M | 8995258 | 21.97% |
| 4 | RLX TECHNOLOGY INC | $132.3M | 60129671 | 5.71% |
| 5 | LEGEND BIOTECH CORP | $41.5M | 2296335 | 1.79% |
| 6 | KASPI KZ JSC | $32.2M | 434350 | 1.39% |
| 7 | SEA LTD | $17.3M | 208963 | 0.75% |
| 8 | DINGDONG CAYMAN LTD | $2.2M | 845952 | 0.09% |
| 9 | ZHIHU INC | $1.6M | 551048 | 0.07% |
| 10 | NOAH HLDGS LTD | $1.3M | 135988 | 0.06% |
| 11 | BAOZUN INC | $1.1M | 444328 | 0.05% |
| 12 | AGORA INC | $27K | 7700 | 0.00% |
Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.