Taikang Asset Management (Hong Kong) Co Ltd Activity Q4 2017-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$495,914	+24.5%	730,000	+19.7%	14.46%	+22.0%
PDD	Buy	PDD HOLDINGS INCsponsored ads	$423,192	+62.6%	550,981	+14.7%	12.34%	+59.4%
JD	Buy	JD.COM INCspon adr cl a	$52,473	+9.6%	230,000	+28.5%	1.53%	+7.4%
INTU	Sell	INTUIT	$49,916	-2.0%	12,474	-12.1%	1.46%	-3.9%
SNPS	Sell	SYNOPSYS INC	$47,934	+0.9%	13,335	-4.2%	1.40%	-1.1%
CDNS	Sell	CADENCE DESIGN SYSTEM INC	$47,371	-4.2%	25,815	-4.1%	1.38%	-6.1%
HTHT	Sell	H WORLD GROUP LTDsponsored ads	$43,756	-42.7%	141,693	-43.6%	1.28%	-43.9%
FUTU	Sell	FUTU HLDGS LTDspon ads cl a	$36,221	-16.9%	80,000	-42.9%	1.06%	-18.6%
COST	Buy	COSTCO WHSL CORP NEW	$31,667	+73.9%	7,157	+65.8%	0.92%	+70.5%
CMG	Buy	CHIPOTLE MEXICAN GRILL INC	$24,504	-7.2%	1,708	+8.4%	0.72%	-8.9%
ZTO	Buy	ZTO EXPRESS CAYMAN INCsponsored ads a	$23,749	+179.1%	125,460	+189.7%	0.69%	+173.9%
BEKE	Buy	KE HLDGS INCsponsored ads	$14,432	+60.3%	118,733	+53.5%	0.42%	+57.1%
BIDU	Sell	BAIDU INCspon adr rep a	$12,769	-68.0%	12,135	-67.3%	0.37%	-68.6%
EL	Sell	LAUDER ESTEE COS INCcl a	$10,755	-60.8%	9,500	-46.7%	0.31%	-61.5%
AON	New	AON PLC	$6,013	–	2,368	–	0.18%	–
IT	Buy	GARTNER INC	$5,135	+60.6%	1,908	+63.8%	0.15%	+57.9%
AJG	New	GALLAGHER ARTHUR J & CO	$5,123	–	2,870	–	0.15%	–
WDAY	Sell	WORKDAY INCcl a	$4,779	-51.9%	2,840	-49.4%	0.14%	-53.0%
FICO	New	FAIR ISAAC CORP	$4,170	–	613	–	0.12%	–
CPRT	New	COPART INC	$1,952	–	5,785	–	0.06%	–
QFIN	Exit	QIFU TECHNOLOGY INCamerican dep	$0	–	-5,657	–	-0.02%	–
MNSO	Exit	MINISO GROUP HLDG LTDsponsored ads	$0	–	-120,149	–	-0.48%	–
	Exit	NEW ORIENTAL ED & TECHNOLOGYspon adr	$0	–	-80,000	–	-0.74%	–

Q2 2023

			Value		Shares		↓ Weighting
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$398,440	–	610,000	–	11.85%	–
AAPL	New	APPLE INC	$364,772	–	239,971	–	10.85%	–
TSLA	New	TESLA INC	$284,938	–	138,900	–	8.48%	–
PDD	New	PDD HOLDINGS INCsponsored ads	$260,219	–	480,266	–	7.74%	–
VOO	New	VANGUARD INDEX FDS	$252,086	–	78,982	–	7.50%	–
EFA	New	ISHARES TRmsci eafe etf	$109,489	–	192,711	–	3.26%	–
MSFT	New	MICROSOFT CORP	$91,546	–	34,304	–	2.72%	–
HTHT	New	H WORLD GROUP LTDsponsored ads	$76,413	–	251,439	–	2.27%	–
AMZN	New	AMAZON COM INC	$62,299	–	60,983	–	1.85%	–
SPGI	New	S&P GLOBAL INC	$58,004	–	18,463	–	1.72%	–
INTU	New	INTUIT	$50,937	–	14,186	–	1.52%	–
CDNS	New	CADENCE DESIGN SYSTEM INC	$49,471	–	26,918	–	1.47%	–
ODFL	New	OLD DOMINION FREIGHT LINE IN	$48,937	–	16,889	–	1.46%	–
TTD	New	THE TRADE DESK INC	$47,923	–	79,193	–	1.43%	–
JD	New	JD.COM INCspon adr cl a	$47,876	–	179,000	–	1.42%	–
SNPS	New	SYNOPSYS INC	$47,490	–	13,918	–	1.41%	–
ISRG	New	INTUITIVE SURGICAL INC	$46,256	–	17,262	–	1.38%	–
V	New	VISA INC	$45,052	–	24,208	–	1.34%	–
FUTU	New	FUTU HLDGS LTDspon ads cl a	$43,600	–	140,000	–	1.30%	–
CSGP	New	COSTAR GROUP INC	$42,624	–	61,114	–	1.27%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$41,267	–	10,769	–	1.23%	–
BIDU	New	BAIDU INCspon adr rep a	$39,842	–	37,135	–	1.18%	–
PLD	New	PROLOGIS INC.	$36,646	–	38,133	–	1.09%	–
ZTS	New	ZOETIS INCcl a	$35,007	–	25,940	–	1.04%	–
IDXX	New	IDEXX LABS INC	$34,839	–	8,852	–	1.04%	–
EWJ	New	ISHARES INCmsci jpn etf new	$34,397	–	70,910	–	1.02%	–
GOOG	New	ALPHABET INCcap stk cl c	$31,450	–	33,175	–	0.94%	–
VRSK	New	VERISK ANALYTICS INC	$31,205	–	17,617	–	0.93%	–
ADSK	New	AUTODESK INC	$28,370	–	17,693	–	0.84%	–
EL	New	LAUDER ESTEE COS INCcl a	$27,440	–	17,830	–	0.82%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$27,366	–	6,693	–	0.81%	–
CMG	New	CHIPOTLE MEXICAN GRILL INC	$26,401	–	1,575	–	0.78%	–
MSCI	New	MSCI INC	$26,321	–	7,157	–	0.78%	–
	New	NEW ORIENTAL ED & TECHNOLOGYspon adr	$24,757	–	80,000	–	0.74%	–
NDAQ	New	NASDAQ INC	$24,324	–	62,265	–	0.72%	–
RMD	New	RESMED INC	$23,691	–	13,836	–	0.70%	–
GOOGL	New	ALPHABET INCcap stk cl a	$23,637	–	25,198	–	0.70%	–
NKE	New	NIKE INCcl b	$23,050	–	26,650	–	0.69%	–
ACN	New	ACCENTURE PLC IRELAND	$22,777	–	9,419	–	0.68%	–
MA	New	MASTERCARD INCORPORATEDcl a	$22,746	–	7,380	–	0.68%	–
MCO	New	MOODYS CORP	$22,216	–	8,153	–	0.66%	–
ALGN	New	ALIGN TECHNOLOGY INC	$21,894	–	7,900	–	0.65%	–
EWC	New	ISHARES INCmsci cda etf	$21,888	–	79,825	–	0.65%	–
IQV	New	IQVIA HLDGS INC	$21,315	–	12,101	–	0.63%	–
ZLAB	New	ZAI LAB LTDadr	$20,536	–	94,500	–	0.61%	–
QD	New	QUDIAN INCadr	$20,375	–	1,300,000	–	0.61%	–
NOW	New	SERVICENOW INC	$19,056	–	4,327	–	0.57%	–
COST	New	COSTCO WHSL CORP NEW	$18,210	–	4,316	–	0.54%	–
APD	New	AIR PRODS & CHEMS INC	$18,161	–	7,737	–	0.54%	–
EA	New	ELECTRONIC ARTS INC	$17,117	–	16,841	–	0.51%	–
EQIX	New	EQUINIX INC	$16,077	–	2,617	–	0.48%	–
MNSO	New	MINISO GROUP HLDG LTDsponsored ads	$15,997	–	120,149	–	0.48%	–
TW	New	TRADEWEB MKTS INCcl a	$15,163	–	28,254	–	0.45%	–
	New	LINDE PLC	$15,033	–	5,034	–	0.45%	–
URTH	New	ISHARES INCmsci world etf	$11,112	–	11,387	–	0.33%	–
EWH	New	ISHARES INCmsci hong kg etf	$11,029	–	72,808	–	0.33%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$10,124	–	8,779	–	0.30%	–
WDAY	New	WORKDAY INCcl a	$9,940	–	5,615	–	0.30%	–
BGNE	New	BEIGENE LTDsponsored adr	$9,781	–	7,000	–	0.29%	–
BEKE	New	KE HLDGS INCsponsored ads	$9,001	–	77,348	–	0.27%	–
ZTO	New	ZTO EXPRESS CAYMAN INCsponsored ads a	$8,510	–	43,300	–	0.25%	–
TRU	New	TRANSUNION	$6,561	–	10,689	–	0.20%	–
EFX	New	EQUIFAX INC	$3,577	–	1,940	–	0.11%	–
IT	New	GARTNER INC	$3,198	–	1,165	–	0.10%	–
TCOM	New	TRIP COM GROUP LTDads	$1,212	–	4,418	–	0.04%	–
QFIN	New	QIFU TECHNOLOGY INCamerican dep	$766	–	5,657	–	0.02%	–

Q4 2022

			Value		Shares		↓ Weighting
XPEV	Exit	XPENG INCads	$0	–	-21,000	–	-0.05%	–
ZLAB	Exit	ZAI LAB LTDadr	$0	–	-15,000	–	-0.11%	–
BGNE	Exit	BEIGENE LTDsponsored adr	$0	–	-7,000	–	-0.19%	–
QD	Exit	QUDIAN INCadr	$0	–	-1,300,000	–	-0.24%	–
LI	Exit	LI AUTO INCsponsored ads	$0	–	-52,660	–	-0.25%	–
YUMC	Exit	YUM CHINA HLDGS INC	$0	–	-28,883	–	-0.28%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-13,139	–	-0.32%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-6,016	–	-0.33%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-17,498	–	-0.39%	–
BLL	Exit	BALL CORP	$0	–	-44,154	–	-0.44%	–
FUTU	Exit	FUTU HLDGS LTDspon ads cl a	$0	–	-57,450	–	-0.44%	–
EWH	Exit	ISHARES INCmsci hong kg etf	$0	–	-145,616	–	-0.55%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-15,780	–	-0.67%	–
TRU	Exit	TRANSUNION	$0	–	-59,080	–	-0.72%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-30,542	–	-0.73%	–
TTD	Exit	THE TRADE DESK INC	$0	–	-60,120	–	-0.74%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-16,934	–	-0.81%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-28,250	–	-0.88%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-16,912	–	-0.96%	–
NKE	Exit	NIKE INCcl b	$0	–	-58,724	–	-1.00%	–
EWC	Exit	ISHARES INCmsci cda etf	$0	–	-159,650	–	-1.01%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-54,466	–	-1.01%	–
NOW	Exit	SERVICENOW INC	$0	–	-14,100	–	-1.10%	–
INTU	Exit	INTUIT	$0	–	-14,272	–	-1.14%	–
ADSK	Exit	AUTODESK INC	$0	–	-30,036	–	-1.15%	–
PLD	Exit	PROLOGIS INC.	$0	–	-57,256	–	-1.20%	–
MCO	Exit	MOODYS CORP	$0	–	-24,480	–	-1.22%	–
ODFL	Exit	OLD DOMINION FREIGHT LINE IN	$0	–	-23,922	–	-1.22%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-23,194	–	-1.23%	–
SIVB	Exit	SVB FINANCIAL GROUP	$0	–	-17,896	–	-1.24%	–
SNPS	Exit	SYNOPSYS INC	$0	–	-20,322	–	-1.28%	–
EQIX	Exit	EQUINIX INC	$0	–	-11,054	–	-1.29%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-19,412	–	-1.30%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-37,186	–	-1.30%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-34,464	–	-1.33%	–
CDNS	Exit	CADENCE DESIGN SYSTEM INC	$0	–	-41,238	–	-1.39%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-141,820	–	-1.42%	–
EL	Exit	LAUDER ESTEE COS INCcl a	$0	–	-32,778	–	-1.46%	–
V	Exit	VISA INC	$0	–	-41,546	–	-1.52%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-26,040	–	-1.52%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-41,346	–	-1.54%	–
NIO	Exit	NIO INCspon ads	$0	–	-495,558	–	-1.61%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-54,818	–	-1.67%	–
RMD	Exit	RESMED INC	$0	–	-40,024	–	-1.80%	–
NDAQ	Exit	NASDAQ INC	$0	–	-160,356	–	-1.87%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-18,472	–	-1.93%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-100,000	–	-1.97%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-111,720	–	-2.21%	–
AMZN	Exit	AMAZON COM INC	$0	–	-99,800	–	-2.32%	–
MSCI	Exit	MSCI INC	$0	–	-27,148	–	-2.36%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-40,806	–	-2.56%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-180,000	–	-2.96%	–
CMG	Exit	CHIPOTLE MEXICAN GRILL INC	$0	–	-9,662	–	-2.99%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-44,246	–	-2.99%	–
HTHT	Exit	H WORLD GROUP LTDsponsored ads	$0	–	-439,378	–	-3.03%	–
PLTK	Exit	PLAYTIKA HLDG CORP	$0	–	-1,654,644	–	-3.20%	–
TCOM	Exit	TRIP COM GROUP LTDads	$0	–	-578,128	–	-3.25%	–
PDD	Exit	PINDUODUO INCsponsored ads	$0	–	-286,760	–	-3.69%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-370,631	–	-3.84%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-81,992	–	-3.93%	–
AAPL	Exit	APPLE INC	$0	–	-186,230	–	-5.29%	–
TSLA	Exit	TESLA INC	$0	–	-138,900	–	-7.58%	–

Q3 2022

			Value		Shares		↓ Weighting
TSLA	Buy	TESLA INC	$289,216,000	+18.2%	138,900	+200.0%	7.58%	+25.6%
AAPL	Buy	APPLE INC	$202,033,000	+20.7%	186,230	+19.4%	5.29%	+28.3%
JD	Buy	JD.COM INCspon adr cl a	$146,344,000	-11.8%	370,631	+12.6%	3.84%	-6.2%
PDD	Buy	PINDUODUO INCsponsored ads	$140,870,000	+8.6%	286,760	+7.2%	3.69%	+15.4%
TCOM	Buy	TRIP COM GROUP LTDads	$123,940,000	+17.0%	578,128	+17.6%	3.25%	+24.4%
PLTK	New	PLAYTIKA HLDG CORP	$121,965,000	–	1,654,644	–	3.20%	–
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$113,024,000	-59.7%	180,000	-42.8%	2.96%	-57.2%
GOOG	Buy	ALPHABET INCcap stk cl c	$84,323,000	-12.1%	111,720	+1900.0%	2.21%	-6.5%
GOOGL	Buy	ALPHABET INCcap stk cl a	$75,084,000	-12.2%	100,000	+1900.0%	1.97%	-6.7%
NDAQ	Buy	NASDAQ INC	$71,348,000	+11.5%	160,356	+200.0%	1.87%	+18.6%
ZTS	Buy	ZOETIS INCcl a	$63,812,000	-4.8%	54,818	+10.3%	1.67%	+1.1%
NIO	Buy	NIO INCspon ads	$61,347,000	+32.1%	495,558	+81.9%	1.61%	+40.3%
IQV	Buy	IQVIA HLDGS INC	$58,791,000	-7.3%	41,346	+11.0%	1.54%	-1.5%
ISRG	Buy	INTUITIVE SURGICAL INC	$50,710,000	+6.1%	34,464	+13.5%	1.33%	+12.7%
IDXX	Buy	IDEXX LABS INC	$49,646,000	+5.7%	19,412	+13.7%	1.30%	+12.3%
PLD	New	PROLOGIS INC.	$45,665,000	–	57,256	–	1.20%	–
FUTU	New	FUTU HLDGS LTDspon ads cl a	$16,817,000	–	57,450	–	0.44%	–
QQQ	Sell	INVESCO QQQ TRunit ser 1	$12,621,000	-48.7%	6,016	-46.2%	0.33%	-45.5%
BIDU	Buy	BAIDU INCspon adr rep a	$12,118,000	+335.4%	13,139	+450.9%	0.32%	+360.9%
YUMC	New	YUM CHINA HLDGS INC	$10,731,000	–	28,883	–	0.28%	–
LI	Sell	LI AUTO INCsponsored ads	$9,512,000	-73.6%	52,660	-56.0%	0.25%	-72.0%
TUYA	Exit	TUYA INCsponsered ads	$0	–	-21,117	–	-0.01%	–
YSG	Exit	YATSEN HLDG LTDads	$0	–	-1,053,280	–	-0.32%	–
BEKE	Exit	KE HLDGS INCsponsored ads	$0	–	-129,302	–	-0.45%	–
MNSO	Exit	MINISO GROUP HLDG LTDsponsored ads	$0	–	-434,388	–	-0.66%	–
ILMN	Exit	ILLUMINA INC	$0	–	-19,860	–	-0.71%	–
YMM	Exit	FULL TRUCK ALLIANCE CO LTDsponsored ads	$0	–	-404,634	–	-0.71%	–
DLR	Exit	DIGITAL RLTY TR INC	$0	–	-35,634	–	-0.90%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-80,880	–	-0.94%	–

Q2 2022

			Value		Shares		↓ Weighting
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$280,518,000	–	314,468	–	6.92%	–
TSLA	New	TESLA INC	$244,663,000	–	46,300	–	6.03%	–
AAPL	New	APPLE INC	$167,362,000	–	156,000	–	4.13%	–
JD	New	JD.COM INCspon adr cl a	$165,894,000	–	329,200	–	4.09%	–
MSFT	New	MICROSOFT CORP	$165,241,000	–	81,992	–	4.07%	–
HTHT	New	HUAZHU GROUP LTDsponsored ads	$131,360,000	–	439,378	–	3.24%	–
PDD	New	PINDUODUO INCsponsored ads	$129,730,000	–	267,516	–	3.20%	–
VOO	New	VANGUARD INDEX FDS	$120,435,000	–	44,246	–	2.97%	–
SPGI	New	S&P GLOBAL INC	$107,928,000	–	40,806	–	2.66%	–
TCOM	New	TRIP COM GROUP LTDads	$105,928,000	–	491,775	–	2.61%	–
CMG	New	CHIPOTLE MEXICAN GRILL INC	$99,113,000	–	9,662	–	2.44%	–
GOOG	New	ALPHABET INCcap stk cl c	$95,883,000	–	5,586	–	2.36%	–
MSCI	New	MSCI INC	$87,800,000	–	27,148	–	2.16%	–
GOOGL	New	ALPHABET INCcap stk cl a	$85,503,000	–	5,000	–	2.11%	–
AMZN	New	AMAZON COM INC	$83,176,000	–	99,800	–	2.05%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$78,748,000	–	18,472	–	1.94%	–
ZTS	New	ZOETIS INCcl a	$67,044,000	–	49,706	–	1.65%	–
RMD	New	RESMED INC	$65,838,000	–	40,024	–	1.62%	–
EL	New	LAUDER ESTEE COS INCcl a	$65,503,000	–	32,778	–	1.62%	–
MA	New	MASTERCARD INCORPORATEDcl a	$64,463,000	–	26,040	–	1.59%	–
V	New	VISA INC	$64,188,000	–	41,546	–	1.58%	–
NDAQ	New	NASDAQ INC	$63,981,000	–	53,452	–	1.58%	–
IQV	New	IQVIA HLDGS INC	$63,450,000	–	37,264	–	1.56%	–
EWJ	New	ISHARES INCmsci jpn etf new	$58,792,000	–	141,820	–	1.45%	–
EQIX	New	EQUINIX INC	$56,990,000	–	11,054	–	1.40%	–
SIVB	New	SVB FINANCIAL GROUP	$55,468,000	–	17,896	–	1.37%	–
NOW	New	SERVICENOW INC	$52,612,000	–	14,100	–	1.30%	–
MCO	New	MOODYS CORP	$52,244,000	–	24,480	–	1.29%	–
ACN	New	ACCENTURE PLC IRELAND	$50,533,000	–	23,194	–	1.25%	–
VRSK	New	VERISK ANALYTICS INC	$50,507,000	–	37,186	–	1.24%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$48,579,000	–	16,912	–	1.20%	–
CDNS	New	CADENCE DESIGN SYSTEM INC	$48,549,000	–	41,238	–	1.20%	–
SNPS	New	SYNOPSYS INC	$48,430,000	–	20,322	–	1.19%	–
ODFL	New	OLD DOMINION FREIGHT LINE IN	$48,108,000	–	23,922	–	1.19%	–
ISRG	New	INTUITIVE SURGICAL INC	$47,806,000	–	30,354	–	1.18%	–
NKE	New	NIKE INCcl b	$47,094,000	–	58,724	–	1.16%	–
IDXX	New	IDEXX LABS INC	$46,968,000	–	17,066	–	1.16%	–
NIO	New	NIO INCspon ads	$46,436,000	–	272,453	–	1.14%	–
INTU	New	INTUIT	$43,166,000	–	14,272	–	1.06%	–
EWC	New	ISHARES INCmsci cda etf	$42,193,000	–	159,650	–	1.04%	–
ADSK	New	AUTODESK INC	$40,529,000	–	30,036	–	1.00%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$40,192,000	–	54,466	–	0.99%	–
CSGP	New	COSTAR GROUP INC	$38,340,000	–	80,880	–	0.94%	–
TRU	New	TRANSUNION	$37,083,000	–	59,080	–	0.91%	–
DLR	New	DIGITAL RLTY TR INC	$36,303,000	–	35,634	–	0.90%	–
LI	New	LI AUTO INCsponsored ads	$36,007,000	–	119,776	–	0.89%	–
APD	New	AIR PRODS & CHEMS INC	$31,955,000	–	16,934	–	0.79%	–
WDAY	New	WORKDAY INCcl a	$30,942,000	–	28,250	–	0.76%	–
ALGN	New	ALIGN TECHNOLOGY INC	$29,306,000	–	15,780	–	0.72%	–
EA	New	ELECTRONIC ARTS INC	$29,155,000	–	30,542	–	0.72%	–
YMM	New	FULL TRUCK ALLIANCE CO LTDsponsored ads	$28,767,000	–	404,634	–	0.71%	–
ILMN	New	ILLUMINA INC	$28,731,000	–	19,860	–	0.71%	–
MNSO	New	MINISO GROUP HLDG LTDsponsored ads	$26,758,000	–	434,388	–	0.66%	–
EWH	New	ISHARES INCmsci hong kg etf	$25,367,000	–	145,616	–	0.62%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$24,602,000	–	11,186	–	0.61%	–
BLL	New	BALL CORP	$23,827,000	–	44,154	–	0.59%	–
TTD	New	THE TRADE DESK INC	$19,762,000	–	60,120	–	0.49%	–
BEKE	New	KE HLDGS INCsponsored ads	$18,213,000	–	129,302	–	0.45%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$16,824,000	–	17,498	–	0.42%	–
YSG	New	YATSEN HLDG LTDads	$12,811,000	–	1,053,280	–	0.32%	–
QD	New	QUDIAN INCadr	$11,221,000	–	1,300,000	–	0.28%	–
BGNE	New	BEIGENE LTDsponsored adr	$8,890,000	–	7,000	–	0.22%	–
XPEV	New	XPENG INCads	$5,230,000	–	21,000	–	0.13%	–
ZLAB	New	ZAI LAB LTDadr	$4,082,000	–	15,000	–	0.10%	–
BIDU	New	BAIDU INCspon adr rep a	$2,783,000	–	2,385	–	0.07%	–
TUYA	New	TUYA INCsponsered ads	$434,000	–	21,117	–	0.01%	–

Q4 2021

			Value		Shares		↓ Weighting
MMM	Exit	3M CO	$0	–	-171	–	-0.01%	–
BR	Exit	BROADRIDGE FINL SOLUTIONS IN	$0	–	-218	–	-0.01%	–
DIDI	Exit	DIDI GLOBAL INCsponsored ads	$0	–	-13,736	–	-0.02%	–
U	Exit	UNITY SOFTWARE INC	$0	–	-1,138	–	-0.03%	–
YMM	Exit	FULL TRUCK ALLIANCE CO LTDsponsored ads	$0	–	-17,102	–	-0.05%	–
WDH	Exit	WATERDROP INCads	$0	–	-160,256	–	-0.08%	–
RBLX	Exit	ROBLOX CORPcl a	$0	–	-8,086	–	-0.12%	–
TAL	Exit	TAL EDUCATION GROUPsponsored ads	$0	–	-174,776	–	-0.17%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-5,500	–	-0.17%	–
BILI	Exit	BILIBILI INCspons ads rep z	$0	–	-14,200	–	-0.19%	–
EDU	Exit	NEW ORIENTAL ED & TECHNOLOGYspon adr	$0	–	-509,211	–	-0.21%	–
VGT	Exit	VANGUARD WORLD FDSinf tech etf	$0	–	-2,721	–	-0.22%	–
SNPS	Exit	SYNOPSYS INC	$0	–	-4,763	–	-0.29%	–
ZLAB	Exit	ZAI LAB LTDadr	$0	–	-15,000	–	-0.32%	–
EWH	Exit	ISHARES INCmsci hong kg etf	$0	–	-72,808	–	-0.35%	–
CDNS	Exit	CADENCE DESIGN SYSTEM INC	$0	–	-11,517	–	-0.35%	–
QD	Exit	QUDIAN INCadr	$0	–	-1,300,000	–	-0.38%	–
RERE	Exit	AIHUISHOU INTL CO LTDsponsored ads	$0	–	-193,373	–	-0.39%	–
BLL	Exit	BALL CORP	$0	–	-22,208	–	-0.40%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-27,483	–	-0.42%	–
BZ	Exit	KANZHUN LIMITEDsponsored ads	$0	–	-58,344	–	-0.43%	–
TTD	Exit	THE TRADE DESK INC	$0	–	-30,465	–	-0.44%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-8,594	–	-0.45%	–
INTU	Exit	INTUIT	$0	–	-4,467	–	-0.49%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-16,127	–	-0.50%	–
BGNE	Exit	BEIGENE LTDsponsored adr	$0	–	-7,000	–	-0.52%	–
DLR	Exit	DIGITAL RLTY TR INC	$0	–	-18,076	–	-0.53%	–
MKTX	Exit	MARKETAXESS HLDGS INC	$0	–	-6,318	–	-0.54%	–
NIO	Exit	NIO INCspon ads	$0	–	-76,612	–	-0.55%	–
LI	Exit	LI AUTO INCsponsored ads	$0	–	-106,497	–	-0.57%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-19,885	–	-0.57%	–
MNSO	Exit	MINISO GROUP HLDG LTDsponsored ads	$0	–	-189,923	–	-0.59%	–
SIVB	Exit	SVB FINANCIAL GROUP	$0	–	-4,583	–	-0.60%	–
ADSK	Exit	AUTODESK INC	$0	–	-10,416	–	-0.60%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-27,638	–	-0.64%	–
TRU	Exit	TRANSUNION	$0	–	-29,966	–	-0.68%	–
DIS	Exit	DISNEY WALT CO	$0	–	-20,389	–	-0.70%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-41,010	–	-0.72%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-14,313	–	-0.73%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-10,072	–	-0.73%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-6,424	–	-0.75%	–
NOW	Exit	SERVICENOW INC	$0	–	-6,053	–	-0.76%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-11,766	–	-0.76%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-18,856	–	-0.77%	–
SPLK	Exit	SPLUNK INC	$0	–	-26,141	–	-0.77%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-11,372	–	-0.80%	–
V	Exit	VISA INC	$0	–	-18,188	–	-0.82%	–
ILMN	Exit	ILLUMINA INC	$0	–	-10,048	–	-0.83%	–
TUYA	Exit	TUYA INCsponsered ads	$0	–	-453,098	–	-0.83%	–
NKE	Exit	NIKE INCcl b	$0	–	-29,789	–	-0.88%	–
MCO	Exit	MOODYS CORP	$0	–	-12,416	–	-0.90%	–
EQIX	Exit	EQUINIX INC	$0	–	-5,591	–	-0.90%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-1,681	–	-0.91%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-4,533	–	-0.91%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-18,908	–	-0.92%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-10,674	–	-0.92%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-13,465	–	-0.93%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-39,907	–	-0.94%	–
NDAQ	Exit	NASDAQ INC	$0	–	-24,109	–	-0.94%	–
EWC	Exit	ISHARES INCmsci cda etf	$0	–	-130,840	–	-0.96%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-25,211	–	-0.99%	–
EL	Exit	LAUDER ESTEE COS INCcl a	$0	–	-16,599	–	-1.01%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-70,910	–	-1.01%	–
FUTU	Exit	FUTU HLDGS LTDspon ads cl a	$0	–	-55,916	–	-1.03%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-8,001	–	-1.08%	–
RMD	Exit	RESMED INC	$0	–	-20,298	–	-1.09%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-9,370	–	-1.09%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-8,659	–	-1.09%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-2,084	–	-1.13%	–
XPEV	Exit	XPENG INCads	$0	–	-201,000	–	-1.45%	–
AMZN	Exit	AMAZON COM INC	$0	–	-2,527	–	-1.68%	–
MSCI	Exit	MSCI INC	$0	–	-13,764	–	-1.70%	–
CMG	Exit	CHIPOTLE MEXICAN GRILL INC	$0	–	-5,602	–	-2.07%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-39,431	–	-2.26%	–
ZTO	Exit	ZTO EXPRESS CAYMAN INCsponsored ads a	$0	–	-499,719	–	-3.11%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-250,000	–	-3.66%	–
PDD	Exit	PINDUODUO INCsponsored ads	$0	–	-208,761	–	-3.84%	–
AAPL	Exit	APPLE INC	$0	–	-156,000	–	-4.48%	–
VIR	Exit	VIR BIOTECHNOLOGY INC	$0	–	-533,332	–	-4.71%	–
HTHT	Exit	HUAZHU GROUP LTDsponsored ads	$0	–	-513,131	–	-4.78%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-180,000	–	-5.41%	–
TCOM	Exit	TRIP COM GROUP LTDads	$0	–	-1,165,077	–	-7.27%	–
TSLA	Exit	TESLA INC	$0	–	-70,300	–	-11.06%	–

Q3 2021

			Value		Shares		↓ Weighting
TCOM	Sell	TRIP COM GROUP LTDads	$35,826,000	-40.5%	1,165,077	-31.3%	7.27%	-21.6%
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$26,649,000	-58.0%	180,000	-35.7%	5.41%	-44.8%
HTHT	Sell	HUAZHU GROUP LTDsponsored ads	$23,532,000	-39.2%	513,131	-30.0%	4.78%	-20.0%
PDD	Buy	PINDUODUO INCsponsored ads	$18,928,000	+37.1%	208,761	+92.1%	3.84%	+80.4%
JD	Sell	JD.COM INCspon adr cl a	$18,060,000	-19.2%	250,000	-10.7%	3.66%	+6.4%
ZTO	New	ZTO EXPRESS CAYMAN INCsponsored ads a	$15,321,000	–	499,719	–	3.11%	–
MSFT	Buy	MICROSOFT CORP	$11,116,000	+7.2%	39,431	+3.0%	2.26%	+41.1%
CMG	Buy	CHIPOTLE MEXICAN GRILL INC	$10,182,000	+17.3%	5,602	+0.1%	2.07%	+54.4%
MSCI	Buy	MSCI INC	$8,373,000	+14.2%	13,764	+0.1%	1.70%	+50.4%
AMZN	Buy	AMAZON COM INC	$8,301,000	+11.1%	2,527	+16.3%	1.68%	+46.1%
XPEV	Buy	XPENG INCads	$7,144,000	+665.7%	201,000	+857.1%	1.45%	+906.9%
FUTU	New	FUTU HLDGS LTDspon ads cl a	$5,089,000	–	55,916	–	1.03%	–
EL	Buy	LAUDER ESTEE COS INCcl a	$4,979,000	+5.8%	16,599	+12.2%	1.01%	+39.1%
FB	Sell	FACEBOOK INCcl a	$4,570,000	-3.2%	13,465	-0.8%	0.93%	+27.3%
TUYA	Sell	TUYA INCsponsered ads	$4,110,000	-73.8%	453,098	-29.1%	0.83%	-65.5%
DIS	Buy	DISNEY WALT CO	$3,449,000	-3.1%	20,389	+0.6%	0.70%	+27.5%
ADSK	Buy	AUTODESK INC	$2,970,000	+37.6%	10,416	+40.8%	0.60%	+81.1%
SIVB	Buy	SVB FINANCIAL GROUP	$2,965,000	+250.1%	4,583	+200.9%	0.60%	+359.5%
MNSO	Sell	MINISO GROUP HLDG LTDsponsored ads	$2,894,000	-85.1%	189,923	-79.7%	0.59%	-80.4%
LI	Buy	LI AUTO INCsponsored ads	$2,800,000	+241.5%	106,497	+353.7%	0.57%	+350.8%
NIO	Buy	NIO INCspon ads	$2,730,000	+9.2%	76,612	+63.1%	0.55%	+43.9%
MKTX	Buy	MARKETAXESS HLDGS INC	$2,658,000	-8.8%	6,318	+0.4%	0.54%	+19.8%
INTU	New	INTUIT	$2,410,000	–	4,467	–	0.49%	–
TTD	Sell	THE TRADE DESK INC	$2,142,000	-10.5%	30,465	-1.5%	0.44%	+17.9%
RERE	Sell	AIHUISHOU INTL CO LTDsponsored ads	$1,940,000	-67.0%	193,373	-50.9%	0.39%	-56.6%
EDU	Buy	NEW ORIENTAL ED & TECHNOLOGYspon adr	$1,044,000	-66.8%	509,211	+32.7%	0.21%	-56.3%
BILI	Sell	BILIBILI INCspons ads rep z	$940,000	-97.1%	14,200	-94.7%	0.19%	-96.2%
BIDU	Sell	BAIDU INCspon adr rep a	$846,000	-94.5%	5,500	-92.7%	0.17%	-92.8%
TAL	Buy	TAL EDUCATION GROUPsponsored ads	$846,000	-69.3%	174,776	+60.0%	0.17%	-59.5%
RBLX	Buy	ROBLOX CORPcl a	$611,000	-3.8%	8,086	+14.6%	0.12%	+26.5%
WDH	Sell	WATERDROP INCads	$383,000	-90.5%	160,256	-74.1%	0.08%	-87.4%
YMM	Sell	FULL TRUCK ALLIANCE CO LTDsponsored ads	$262,000	-91.6%	17,102	-88.9%	0.05%	-89.0%
U	New	UNITY SOFTWARE INC	$144,000	–	1,138	–	0.03%	–
DIDI	Sell	DIDI GLOBAL INCsponsored ads	$107,000	-97.1%	13,736	-94.8%	0.02%	-96.2%
BR	Sell	BROADRIDGE FINL SOLUTIONS IN	$36,000	-98.4%	218	-98.5%	0.01%	-98.0%
MMM	Sell	3M CO	$30,000	-98.7%	171	-98.5%	0.01%	-98.3%
KC	Exit	KINGSOFT CLOUD HLDGS LTDads	$0	–	-11,474	–	-0.06%	–
YSG	Exit	YATSEN HLDG LTDads	$0	–	-141,153	–	-0.20%	–
RLX	Exit	RLX TECHNOLOGY INCsponsored ads	$0	–	-550,884	–	-0.74%	–
DADA	Exit	DADA NEXUS LTDads	$0	–	-267,615	–	-1.20%	–
GDS	Exit	GDS HLDGS LTDsponsored ads	$0	–	-161,170	–	-1.95%	–

Q2 2021

			Value		Shares		↓ Weighting
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$63,498,000	–	280,000	–	9.79%	–
TCOM	New	TRIP COM GROUP LTDads	$60,167,000	–	1,696,756	–	9.28%	–
TSLA	New	TESLA INC	$47,783,000	–	70,300	–	7.37%	–
HTHT	New	HUAZHU GROUP LTDsponsored ads	$38,715,000	–	733,099	–	5.97%	–
BILI	New	BILIBILI INCspons ads rep z	$32,550,000	–	267,150	–	5.02%	–
VIR	New	VIR BIOTECHNOLOGY INC	$25,216,000	–	533,332	–	3.89%	–
JD	New	JD.COM INCspon adr cl a	$22,347,000	–	280,000	–	3.45%	–
AAPL	New	APPLE INC	$21,366,000	–	156,000	–	3.30%	–
MNSO	New	MINISO GROUP HLDG LTDsponsored ads	$19,427,000	–	934,459	–	3.00%	–
TUYA	New	TUYA INCsponsered ads	$15,666,000	–	639,433	–	2.42%	–
BIDU	New	BAIDU INCspon adr rep a	$15,394,000	–	75,499	–	2.37%	–
PDD	New	PINDUODUO INCsponsored ads	$13,804,000	–	108,679	–	2.13%	–
GDS	New	GDS HLDGS LTDsponsored ads	$12,650,000	–	161,170	–	1.95%	–
MSFT	New	MICROSOFT CORP	$10,370,000	–	38,281	–	1.60%	–
CMG	New	CHIPOTLE MEXICAN GRILL INC	$8,679,000	–	5,598	–	1.34%	–
DADA	New	DADA NEXUS LTDads	$7,764,000	–	267,615	–	1.20%	–
AMZN	New	AMAZON COM INC	$7,475,000	–	2,173	–	1.15%	–
MSCI	New	MSCI INC	$7,330,000	–	13,750	–	1.13%	–
RERE	New	AIHUISHOU INTL CO LTDsponsored ads	$5,885,000	–	393,629	–	0.91%	–
IDXX	New	IDEXX LABS INC	$5,469,000	–	8,659	–	0.84%	–
GOOGL	New	ALPHABET INCcap stk cl a	$5,089,000	–	2,084	–	0.78%	–
RMD	New	RESMED INC	$5,004,000	–	20,298	–	0.77%	–
ALGN	New	ALIGN TECHNOLOGY INC	$4,889,000	–	8,001	–	0.75%	–
EWC	New	ISHARES INCmsci cda etf	$4,876,000	–	130,840	–	0.75%	–
RLX	New	RLX TECHNOLOGY INCsponsored ads	$4,809,000	–	550,884	–	0.74%	–
EWJ	New	ISHARES INCmsci jpn etf new	$4,789,000	–	70,910	–	0.74%	–
ILMN	New	ILLUMINA INC	$4,755,000	–	10,048	–	0.73%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$4,727,000	–	9,370	–	0.73%	–
FB	New	FACEBOOK INCcl a	$4,722,000	–	13,579	–	0.73%	–
EL	New	LAUDER ESTEE COS INCcl a	$4,705,000	–	14,791	–	0.73%	–
ZTS	New	ZOETIS INCcl a	$4,698,000	–	25,211	–	0.72%	–
NKE	New	NIKE INCcl b	$4,602,000	–	29,789	–	0.71%	–
IQV	New	IQVIA HLDGS INC	$4,582,000	–	18,908	–	0.71%	–
MCO	New	MOODYS CORP	$4,499,000	–	12,416	–	0.69%	–
INFO	New	IHS MARKIT LTD	$4,496,000	–	39,907	–	0.69%	–
EQIX	New	EQUINIX INC	$4,487,000	–	5,591	–	0.69%	–
SPGI	New	S&P GLOBAL INC	$4,381,000	–	10,674	–	0.68%	–
V	New	VISA INC	$4,253,000	–	18,188	–	0.66%	–
NDAQ	New	NASDAQ INC	$4,238,000	–	24,109	–	0.65%	–
GOOG	New	ALPHABET INCcap stk cl c	$4,213,000	–	1,681	–	0.65%	–
ISRG	New	INTUITIVE SURGICAL INC	$4,169,000	–	4,533	–	0.64%	–
MA	New	MASTERCARD INCORPORATEDcl a	$4,152,000	–	11,372	–	0.64%	–
WDH	New	WATERDROP INCads	$4,014,000	–	619,408	–	0.62%	–
SPLK	New	SPLUNK INC	$3,779,000	–	26,141	–	0.58%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$3,762,000	–	6,424	–	0.58%	–
DIDI	New	DIDI GLOBAL INCsponsored ads	$3,747,000	–	265,000	–	0.58%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$3,570,000	–	10,072	–	0.55%	–
DIS	New	DISNEY WALT CO	$3,561,000	–	20,262	–	0.55%	–
ACN	New	ACCENTURE PLC IRELAND	$3,468,000	–	11,766	–	0.54%	–
WDAY	New	WORKDAY INCcl a	$3,417,000	–	14,313	–	0.53%	–
CSGP	New	COSTAR GROUP INC	$3,396,000	–	41,010	–	0.52%	–
NOW	New	SERVICENOW INC	$3,326,000	–	6,053	–	0.51%	–
VRSK	New	VERISK ANALYTICS INC	$3,295,000	–	18,856	–	0.51%	–
TRU	New	TRANSUNION	$3,291,000	–	29,966	–	0.51%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$3,281,000	–	27,638	–	0.51%	–
EDU	New	NEW ORIENTAL ED & TECHNOLOGYspon adr	$3,144,000	–	383,871	–	0.48%	–
YMM	New	FULL TRUCK ALLIANCE CO LTDsponsored ads	$3,137,000	–	153,919	–	0.48%	–
QD	New	QUDIAN INCadr	$3,133,000	–	1,300,000	–	0.48%	–
MKTX	New	MARKETAXESS HLDGS INC	$2,916,000	–	6,290	–	0.45%	–
EA	New	ELECTRONIC ARTS INC	$2,860,000	–	19,885	–	0.44%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$2,855,000	–	16,127	–	0.44%	–
TAL	New	TAL EDUCATION GROUPsponsored ads	$2,756,000	–	109,227	–	0.42%	–
DLR	New	DIGITAL RLTY TR INC	$2,720,000	–	18,076	–	0.42%	–
ZLAB	New	ZAI LAB LTDadr	$2,655,000	–	15,000	–	0.41%	–
NIO	New	NIO INCspon ads	$2,499,000	–	46,979	–	0.38%	–
APD	New	AIR PRODS & CHEMS INC	$2,472,000	–	8,594	–	0.38%	–
BGNE	New	BEIGENE LTDsponsored adr	$2,402,000	–	7,000	–	0.37%	–
TTD	New	THE TRADE DESK INC	$2,392,000	–	30,920	–	0.37%	–
BZ	New	KANZHUN LIMITEDsponsored ads	$2,313,000	–	58,344	–	0.36%	–
BR	New	BROADRIDGE FINL SOLUTIONS IN	$2,306,000	–	14,275	–	0.36%	–
MMM	New	3M CO	$2,277,000	–	11,463	–	0.35%	–
CL	New	COLGATE PALMOLIVE CO	$2,236,000	–	27,483	–	0.34%	–
ADSK	New	AUTODESK INC	$2,159,000	–	7,396	–	0.33%	–
EWH	New	ISHARES INCmsci hong kg etf	$1,945,000	–	72,808	–	0.30%	–
BLL	New	BALL CORP	$1,799,000	–	22,208	–	0.28%	–
CDNS	New	CADENCE DESIGN SYSTEM INC	$1,576,000	–	11,517	–	0.24%	–
YSG	New	YATSEN HLDG LTDads	$1,323,000	–	141,153	–	0.20%	–
SNPS	New	SYNOPSYS INC	$1,314,000	–	4,763	–	0.20%	–
VGT	New	VANGUARD WORLD FDSfds	$1,085,000	–	2,721	–	0.17%	–
XPEV	New	XPENG INCads	$933,000	–	21,000	–	0.14%	–
SIVB	New	SVB FINANCIAL GROUP	$847,000	–	1,523	–	0.13%	–
LI	New	LI AUTO INCsponsored ads	$820,000	–	23,475	–	0.13%	–
RBLX	New	ROBLOX CORPcl a	$635,000	–	7,057	–	0.10%	–
KC	New	KINGSOFT CLOUD HLDGS LTDads	$389,000	–	11,474	–	0.06%	–

Q4 2020

			Value		Shares		↓ Weighting
LI	Exit	LI AUTO INCsponsored ads	$0	–	-27,895	–	-0.08%	–
BLL	Exit	BALL CORP	$0	–	-9,384	–	-0.12%	–
IEV	Exit	ISHARES TReurope etf	$0	–	-23,632	–	-0.15%	–
GTH	Exit	GENETRON HLDGS LTDads	$0	–	-111,111	–	-0.20%	–
BQ	Exit	BOQII HLDG LTDsponsored ads	$0	–	-200,000	–	-0.22%	–
EWH	Exit	ISHARES INCmsci hong kg etf	$0	–	-72,808	–	-0.25%	–
QD	Exit	QUDIAN INCadr	$0	–	-1,300,000	–	-0.25%	–
MMM	Exit	3M CO	$0	–	-10,742	–	-0.27%	–
BR	Exit	BROADRIDGE FINL SOLUTIONS IN	$0	–	-13,756	–	-0.28%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-25,184	–	-0.30%	–
CERN	Exit	CERNER CORP	$0	–	-27,114	–	-0.30%	–
MKTX	Exit	MARKETAXESS HLDGS INC	$0	–	-4,507	–	-0.34%	–
IT	Exit	GARTNER INC	$0	–	-17,527	–	-0.34%	–
TRU	Exit	TRANSUNION	$0	–	-26,396	–	-0.34%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-15,191	–	-0.35%	–
ILMN	Exit	ILLUMINA INC	$0	–	-7,307	–	-0.35%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-1,542	–	-0.35%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-7,004	–	-0.36%	–
EZU	Exit	ISHARES INCmsci eurzone etf	$0	–	-60,817	–	-0.36%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-17,970	–	-0.36%	–
DLR	Exit	DIGITAL RLTY TR INC	$0	–	-16,112	–	-0.37%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-8,008	–	-0.37%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-10,577	–	-0.37%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-14,979	–	-0.38%	–
DIS	Exit	DISNEY WALT CO	$0	–	-20,262	–	-0.39%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-25,294	–	-0.39%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-11,936	–	-0.40%	–
NDAQ	Exit	NASDAQ INC	$0	–	-21,405	–	-0.41%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-16,989	–	-0.41%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-8,010	–	-0.42%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-35,388	–	-0.43%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-5,736	–	-0.44%	–
IVV	Exit	ISHARES TRcore s&p500 etf	$0	–	-8,397	–	-0.44%	–
EL	Exit	LAUDER ESTEE COS INCcl a	$0	–	-13,120	–	-0.44%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-4,037	–	-0.44%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-1,971	–	-0.45%	–
RMD	Exit	RESMED INC	$0	–	-17,486	–	-0.46%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-16,292	–	-0.47%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-3,556	–	-0.47%	–
EQIX	Exit	EQUINIX INC	$0	–	-4,041	–	-0.48%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-7,871	–	-0.48%	–
NIO	Exit	NIO INCspon ads	$0	–	-147,333	–	-0.48%	–
MCO	Exit	MOODYS CORP	$0	–	-10,856	–	-0.49%	–
V	Exit	VISA INC	$0	–	-15,768	–	-0.49%	–
HEFA	Exit	ISHARES TRhdg msci eafe	$0	–	-117,698	–	-0.50%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-9,833	–	-0.51%	–
NKE	Exit	NIKE INCcl b	$0	–	-26,576	–	-0.52%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-9,362	–	-0.52%	–
SPLK	Exit	SPLUNK INC	$0	–	-18,961	–	-0.55%	–
EWC	Exit	ISHARES INCmsci cda etf	$0	–	-130,840	–	-0.56%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-21,870	–	-0.56%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-8,308	–	-0.57%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-14,570	–	-0.59%	–
MSCI	Exit	MSCI INC	$0	–	-11,605	–	-0.64%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-70,910	–	-0.65%	–
VGT	Exit	VANGUARD WORLD FDSfds	$0	–	-14,697	–	-0.71%	–
CMG	Exit	CHIPOTLE MEXICAN GRILL INC	$0	–	-4,693	–	-0.90%	–
DBEF	Exit	DBX ETF TRxtrack msci eafe	$0	–	-204,352	–	-0.97%	–
AMZN	Exit	AMAZON COM INC	$0	–	-2,135	–	-1.04%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-96,302	–	-1.16%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-36,927	–	-1.20%	–
EDU	Exit	NEW ORIENTAL ED & TECHNOLOGYspon adr	$0	–	-54,000	–	-1.25%	–
LEGN	Exit	LEGEND BIOTECH CORPsponsored ads	$0	–	-263,903	–	-1.26%	–
KC	Exit	KINGSOFT CLOUD HLDGS LTDads	$0	–	-431,277	–	-1.97%	–
YY	Exit	JOYY INC	$0	–	-164,578	–	-2.05%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-49,907	–	-2.14%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-51,653	–	-2.46%	–
TCOM	Exit	TRIP COM GROUP LTDads	$0	–	-542,191	–	-2.61%	–
AAPL	Exit	APPLE INC	$0	–	-156,000	–	-2.80%	–
QFIN	Exit	360 DIGITECH INCamerican dep	$0	–	-1,577,659	–	-2.91%	–
BEKE	Exit	KE HLDGS INCsponsored ads	$0	–	-323,569	–	-3.07%	–
VIR	Exit	VIR BIOTECHNOLOGY INC	$0	–	-622,221	–	-3.30%	–
PDD	Exit	PINDUODUO INCsponsored ads	$0	–	-315,180	–	-3.62%	–
GDS	Exit	GDS HLDGS LTDsponsored ads	$0	–	-339,160	–	-4.29%	–
HTHT	Exit	HUAZHU GROUP LTDsponsored ads	$0	–	-811,387	–	-5.43%	–
TSLA	Exit	TESLA INC	$0	–	-85,000	–	-5.64%	–
TAL	Exit	TAL EDUCATION GROUPsponsored ads	$0	–	-489,448	–	-5.76%	–
BILI	Exit	BILIBILI INCspons ads rep z	$0	–	-1,344,671	–	-8.65%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-279,705	–	-12.72%	–

Q3 2020

			Value		Shares		↓ Weighting
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$82,228,000	+116.1%	279,705	+58.6%	12.72%	+87.8%
BILI	Buy	BILIBILI INCspons ads rep z	$55,938,000	+11.3%	1,344,671	+24.0%	8.65%	-3.2%
TAL	Buy	TAL EDUCATION GROUPsponsored ads	$37,218,000	+109.7%	489,448	+88.6%	5.76%	+82.3%
TSLA	Buy	TESLA INC	$36,466,000	+98.6%	85,000	+400.0%	5.64%	+72.6%
HTHT	Buy	HUAZHU GROUP LTDsponsored ads	$35,084,000	+35.9%	811,387	+10.1%	5.43%	+18.1%
GDS	Sell	GDS HLDGS LTDsponsored ads	$27,753,000	-42.9%	339,160	-44.4%	4.29%	-50.4%
PDD	Buy	PINDUODUO INCsponsored ads	$23,371,000	+64.8%	315,180	+90.8%	3.62%	+43.3%
BEKE	New	KE HLDGS INCsponsored ads	$19,835,000	–	323,569	–	3.07%	–
QFIN	New	360 DIGITECH INCamerican dep	$18,837,000	–	1,577,659	–	2.91%	–
AAPL	Buy	APPLE INC	$18,066,000	+27.0%	156,000	+300.0%	2.80%	+10.3%
TCOM	Buy	TRIP COM GROUP LTDads	$16,884,000	+57.0%	542,191	+30.6%	2.61%	+36.4%
VOO	Sell	VANGUARD INDEX FDS	$15,891,000	-42.6%	51,653	-47.1%	2.46%	-50.1%
QQQ	Sell	INVESCO QQQ TRunit ser 1	$13,866,000	+6.9%	49,907	-4.7%	2.14%	-7.1%
YY	Buy	JOYY INC	$13,277,000	+150.3%	164,578	+174.8%	2.05%	+117.6%
KC	Sell	KINGSOFT CLOUD HLDGS LTDads	$12,736,000	-38.5%	431,277	-34.3%	1.97%	-46.5%
LEGN	Sell	LEGEND BIOTECH CORPsponsored ads	$8,147,000	-31.1%	263,903	-5.0%	1.26%	-40.1%
EDU	Buy	NEW ORIENTAL ED & TECHNOLOGYspon adr	$8,073,000	+545.8%	54,000	+462.5%	1.25%	+460.1%
MSFT	Buy	MICROSOFT CORP	$7,767,000	+5.0%	36,927	+1.6%	1.20%	-8.7%
JD	New	JD.COM INCspon adr cl a	$7,474,000	–	96,302	–	1.16%	–
AMZN	Buy	AMAZON COM INC	$6,723,000	+15.9%	2,135	+1.5%	1.04%	+0.7%
DBEF	Sell	DBX ETF TRxtrack msci eafe	$6,253,000	-45.9%	204,352	-46.6%	0.97%	-53.0%
CMG	Buy	CHIPOTLE MEXICAN GRILL INC	$5,837,000	+20.1%	4,693	+1.6%	0.90%	+4.4%
MSCI	Buy	MSCI INC	$4,140,000	+8.6%	11,605	+1.7%	0.64%	-5.5%
FB	Buy	FACEBOOK INCcl a	$3,816,000	+21.2%	14,570	+5.1%	0.59%	+5.2%
TMO	Buy	THERMO FISHER SCIENTIFIC INC	$3,668,000	+23.8%	8,308	+1.6%	0.57%	+7.6%
ZTS	Buy	ZOETIS INCcl a	$3,617,000	+22.7%	21,870	+1.7%	0.56%	+6.7%
SPLK	Buy	SPLUNK INC	$3,567,000	-3.8%	18,961	+1.7%	0.55%	-16.4%
SPGI	Buy	S&P GLOBAL INC	$3,376,000	+11.2%	9,362	+1.7%	0.52%	-3.3%
NKE	Buy	NIKE INCcl b	$3,336,000	+30.1%	26,576	+1.6%	0.52%	+13.2%
MA	Buy	MASTERCARD INCORPORATEDcl a	$3,325,000	+16.3%	9,833	+1.7%	0.51%	+1.0%
HEFA	Sell	ISHARES TRhdg msci eafe	$3,241,000	-46.0%	117,698	-45.9%	0.50%	-53.1%
V	Buy	VISA INC	$3,153,000	+5.2%	15,768	+1.7%	0.49%	-8.4%
MCO	Buy	MOODYS CORP	$3,147,000	+7.3%	10,856	+1.6%	0.49%	-6.7%
NIO	Sell	NIO INCspon ads	$3,126,000	+62.0%	147,333	-41.1%	0.48%	+40.7%
IDXX	Buy	IDEXX LABS INC	$3,094,000	+21.0%	7,871	+1.6%	0.48%	+5.3%
EQIX	Buy	EQUINIX INC	$3,072,000	+10.0%	4,041	+1.6%	0.48%	-4.4%
VRSK	Buy	VERISK ANALYTICS INC	$3,019,000	+10.7%	16,292	+1.6%	0.47%	-3.9%
CSGP	Buy	COSTAR GROUP INC	$3,017,000	+21.3%	3,556	+1.6%	0.47%	+5.4%
RMD	Buy	RESMED INC	$2,998,000	-9.2%	17,486	+1.7%	0.46%	-21.1%
GOOGL	Buy	ALPHABET INCcap stk cl a	$2,889,000	+5.0%	1,971	+1.5%	0.45%	-8.8%
EL	Buy	LAUDER ESTEE COS INCcl a	$2,863,000	+17.5%	13,120	+1.6%	0.44%	+2.1%
ISRG	Buy	INTUITIVE SURGICAL INC	$2,864,000	+26.5%	4,037	+1.6%	0.44%	+9.9%
ADBE	Buy	ADOBE SYSTEMS INCORPORATED	$2,813,000	+14.5%	5,736	+1.6%	0.44%	-0.5%
INFO	Buy	IHS MARKIT LTD	$2,778,000	+5.7%	35,388	+1.7%	0.43%	-8.1%
IQV	Buy	IQVIA HLDGS INC	$2,678,000	+12.9%	16,989	+1.7%	0.41%	-1.9%
NDAQ	Buy	NASDAQ INC	$2,627,000	+4.4%	21,405	+1.6%	0.41%	-9.4%
WDAY	Buy	WORKDAY INCcl a	$2,568,000	+16.7%	11,936	+1.6%	0.40%	+1.3%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$2,531,000	+11.0%	25,294	+1.6%	0.39%	-3.4%
DIS	Buy	DISNEY WALT CO	$2,514,000	+13.0%	20,262	+1.6%	0.39%	-1.8%
TTWO	Buy	TAKE-TWO INTERACTIVE SOFTWAR	$2,475,000	+20.3%	14,979	+1.6%	0.38%	+4.6%
ACN	Buy	ACCENTURE PLC IRELAND	$2,390,000	+6.9%	10,577	+1.6%	0.37%	-7.0%
APD	Buy	AIR PRODS & CHEMS INC	$2,385,000	+25.3%	8,008	+1.6%	0.37%	+8.8%
DLR	Buy	DIGITAL RLTY TR INC	$2,365,000	+5.0%	16,112	+1.6%	0.37%	-8.7%
EA	Buy	ELECTRONIC ARTS INC	$2,343,000	+0.3%	17,970	+1.6%	0.36%	-13.0%
ALGN	Buy	ALIGN TECHNOLOGY INC	$2,293,000	+21.2%	7,004	+1.6%	0.36%	+5.3%
GOOG	Buy	ALPHABET INCcap stk cl c	$2,266,000	+5.6%	1,542	+1.6%	0.35%	-8.1%
ILMN	Buy	ILLUMINA INC	$2,258,000	-15.2%	7,307	+1.6%	0.35%	-26.4%
KMB	Buy	KIMBERLY CLARK CORP	$2,243,000	+6.2%	15,191	+1.7%	0.35%	-7.7%
TRU	Buy	TRANSUNION	$2,221,000	-1.7%	26,396	+1.6%	0.34%	-14.4%
IT	Buy	GARTNER INC	$2,190,000	+4.6%	17,527	+1.6%	0.34%	-9.1%
MKTX	Buy	MARKETAXESS HLDGS INC	$2,171,000	-2.3%	4,507	+1.6%	0.34%	-15.2%
CERN	Buy	CERNER CORP	$1,960,000	+7.2%	27,114	+1.6%	0.30%	-7.1%
CL	Buy	COLGATE PALMOLIVE CO	$1,943,000	+7.0%	25,184	+1.6%	0.30%	-6.8%
BR	Buy	BROADRIDGE FINL SOLUTIONS IN	$1,816,000	+6.3%	13,756	+1.6%	0.28%	-7.6%
MMM	Buy	3M CO	$1,721,000	+4.4%	10,742	+1.6%	0.27%	-9.5%
BQ	New	BOQII HLDG LTDsponsored ads	$1,440,000	–	200,000	–	0.22%	–
GTH	Sell	GENETRON HLDGS LTDads	$1,327,000	-30.5%	111,111	-29.7%	0.20%	-39.7%
BLL	New	BALL CORP	$780,000	–	9,384	–	0.12%	–
LI	New	LI AUTO INCsponsored ads	$485,000	–	27,895	–	0.08%	–
ACMR	Exit	ACM RESEARCH INC	$0	–	-4,042	–	-0.04%	–
VNET	Exit	21VIANET GROUP INCsponsored ads a	$0	–	-30,000	–	-0.13%	–
EWA	Exit	ISHARES INCmsci aust etf	$0	–	-76,940	–	-0.26%	–
BZUN	Exit	BAOZUN INCsponsored adr	$0	–	-195,924	–	-1.34%	–
IQ	Exit	IQIYI INCsponsored ads	$0	–	-324,926	–	-1.34%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-89,156	–	-1.90%	–
DQ	Exit	DAQO NEW ENERGY CORPspnsrd adr new	$0	–	-163,072	–	-2.16%	–
VIPS	Exit	VIPSHOP HOLDINGS LIMITEDsponsored ads a	$0	–	-662,380	–	-2.35%	–

Q2 2020

			Value		Shares		↓ Weighting
BILI	New	BILIBILI INCspons ads rep z	$50,242,000	–	1,084,662	–	8.94%	–
GDS	New	GDS HLDGS LTDsponsored ads	$48,633,000	–	610,509	–	8.66%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$38,050,000	–	176,402	–	6.77%	–
VOO	New	VANGUARD INDEX FDS	$27,678,000	–	97,653	–	4.93%	–
HTHT	New	HUAZHU GROUP LTDsponsored ads	$25,821,000	–	736,701	–	4.60%	–
VIR	New	VIR BIOTECHNOLOGY INC	$25,492,000	–	622,221	–	4.54%	–
KC	New	KINGSOFT CLOUD HLDGS LTDads	$20,700,000	–	656,712	–	3.68%	–
TSLA	New	TESLA INC	$18,357,000	–	17,000	–	3.27%	–
TAL	New	TAL EDUCATION GROUPsponsored ads	$17,747,000	–	259,538	–	3.16%	–
AAPL	New	APPLE INC	$14,227,000	–	39,000	–	2.53%	–
PDD	New	PINDUODUO INCsponsored ads	$14,179,000	–	165,181	–	2.52%	–
VIPS	New	VIPSHOP HOLDINGS LIMITEDsponsored ads a	$13,188,000	–	662,380	–	2.35%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$12,968,000	–	52,375	–	2.31%	–
DQ	New	DAQO NEW ENERGY CORPspnsrd adr new	$12,106,000	–	163,072	–	2.16%	–
LEGN	New	LEGEND BIOTECH CORPsponsored ads	$11,821,000	–	277,742	–	2.10%	–
DBEF	New	DBX ETF TRxtrack msci emrg	$11,555,000	–	382,352	–	2.06%	–
TCOM	New	TRIP COM GROUP LTDads	$10,757,000	–	414,997	–	1.92%	–
BIDU	New	BAIDU INCspon adr rep a	$10,689,000	–	89,156	–	1.90%	–
IQ	New	IQIYI INCsponsored ads	$7,535,000	–	324,926	–	1.34%	–
BZUN	New	BAOZUN INCsponsored adr	$7,533,000	–	195,924	–	1.34%	–
MSFT	New	MICROSOFT CORP	$7,399,000	–	36,358	–	1.32%	–
HEFA	New	ISHARES TRhdg msci eafe	$6,007,000	–	217,698	–	1.07%	–
AMZN	New	AMAZON COM INC	$5,802,000	–	2,103	–	1.03%	–
YY	New	JOYY INC	$5,304,000	–	59,897	–	0.94%	–
CMG	New	CHIPOTLE MEXICAN GRILL INC	$4,860,000	–	4,618	–	0.86%	–
VGT	New	VANGUARD WORLD FDSfds	$4,096,000	–	14,697	–	0.73%	–
EWJ	New	ISHARES INCmsci jpn etf new	$3,894,000	–	70,910	–	0.69%	–
MSCI	New	MSCI INC	$3,811,000	–	11,415	–	0.68%	–
SPLK	New	SPLUNK INC	$3,706,000	–	18,652	–	0.66%	–
EWC	New	ISHARES INCmsci cda etf	$3,386,000	–	130,840	–	0.60%	–
RMD	New	RESMED INC	$3,302,000	–	17,200	–	0.59%	–
FB	New	FACEBOOK INCcl a	$3,149,000	–	13,866	–	0.56%	–
SPGI	New	S&P GLOBAL INC	$3,035,000	–	9,210	–	0.54%	–
V	New	VISA INC	$2,996,000	–	15,510	–	0.53%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$2,962,000	–	8,174	–	0.53%	–
ZTS	New	ZOETIS INCcl a	$2,948,000	–	21,512	–	0.52%	–
MCO	New	MOODYS CORP	$2,934,000	–	10,680	–	0.52%	–
MA	New	MASTERCARD INCORPORATEDcl a	$2,860,000	–	9,673	–	0.51%	–
EQIX	New	EQUINIX INC	$2,793,000	–	3,977	–	0.50%	–
GOOGL	New	ALPHABET INCcap stk cl a	$2,752,000	–	1,941	–	0.49%	–
VRSK	New	VERISK ANALYTICS INC	$2,728,000	–	16,029	–	0.49%	–
ILMN	New	ILLUMINA INC	$2,662,000	–	7,189	–	0.47%	–
INFO	New	IHS MARKIT LTD	$2,628,000	–	34,810	–	0.47%	–
IVV	New	ISHARES TRcore s&p500 etf	$2,600,000	–	8,397	–	0.46%	–
NKE	New	NIKE INC	$2,564,000	–	26,149	–	0.46%	–
IDXX	New	IDEXX LABS INC	$2,557,000	–	7,745	–	0.46%	–
NDAQ	New	NASDAQ INC	$2,516,000	–	21,061	–	0.45%	–
CSGP	New	COSTAR GROUP INC	$2,487,000	–	3,499	–	0.44%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$2,470,000	–	8,010	–	0.44%	–
ADBE	New	ADOBE INC	$2,457,000	–	5,644	–	0.44%	–
EL	New	LAUDER ESTEE COS INCcl a	$2,436,000	–	12,910	–	0.43%	–
IQV	New	IQVIA HLDGS INC	$2,371,000	–	16,713	–	0.42%	–
EA	New	ELECTRONIC ARTS INC	$2,335,000	–	17,680	–	0.42%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$2,280,000	–	24,889	–	0.41%	–
ISRG	New	INTUITIVE SURGICAL INC	$2,264,000	–	3,973	–	0.40%	–
TRU	New	TRANSUNION	$2,260,000	–	25,970	–	0.40%	–
DLR	New	DIGITAL RLTY TR INC	$2,253,000	–	15,853	–	0.40%	–
ACN	New	ACCENTURE PLC IRELAND	$2,235,000	–	10,408	–	0.40%	–
EZU	New	ISHARES INCmsci eurzone etf	$2,222,000	–	60,817	–	0.40%	–
MKTX	New	MARKETAXESS HLDGS INC	$2,223,000	–	4,438	–	0.40%	–
DIS	New	DISNEY WALT CO	$2,224,000	–	19,946	–	0.40%	–
QD	New	QUDIAN INCadr	$2,210,000	–	1,300,000	–	0.39%	–
WDAY	New	WORKDAY INCcl a	$2,201,000	–	11,748	–	0.39%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,146,000	–	1,518	–	0.38%	–
KMB	New	KIMBERLY CLARK CORP	$2,112,000	–	14,943	–	0.38%	–
IT	New	GARTNER INC	$2,093,000	–	17,249	–	0.37%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$2,057,000	–	14,739	–	0.37%	–
NIO	New	NIO INCspon ads	$1,930,000	–	250,000	–	0.34%	–
GTH	New	GENETRON HLDGS LTDads	$1,909,000	–	158,148	–	0.34%	–
APD	New	AIR PRODS & CHEMS INC	$1,903,000	–	7,881	–	0.34%	–
ALGN	New	ALIGN TECHNOLOGY INC	$1,892,000	–	6,893	–	0.34%	–
CERN	New	CERNER CORP	$1,829,000	–	26,678	–	0.33%	–
CL	New	COLGATE PALMOLIVE CO	$1,816,000	–	24,782	–	0.32%	–
BR	New	BROADRIDGE FINL SOLUTIONS IN	$1,708,000	–	13,538	–	0.30%	–
MMM	New	3M CO	$1,649,000	–	10,571	–	0.29%	–
EWH	New	ISHARES INCmsci hong kg etf	$1,556,000	–	72,808	–	0.28%	–
EWA	New	ISHARES INCmsci aust etf	$1,483,000	–	76,940	–	0.26%	–
EDU	New	NEW ORIENTAL ED & TECHNOLOGYspon adr	$1,250,000	–	9,600	–	0.22%	–
IEV	New	ISHARES TReurope etf	$955,000	–	23,632	–	0.17%	–
VNET	New	21VIANET GROUP INCsponsored ads a	$716,000	–	30,000	–	0.13%	–
ACMR	New	ACM RESEARCH INC	$252,000	–	4,042	–	0.04%	–

Q4 2019

			Value		Shares		↓ Weighting
VNET	Exit	21VIANET GROUP INCsponsored ads a	$0	–	-23,429	–	-0.02%	–
LYV	Exit	LIVE NATION ENTERTAINMENT IN	$0	–	-6,219	–	-0.04%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-2,458	–	-0.04%	–
DIS	Exit	DISNEY WALT CO	$0	–	-3,554	–	-0.05%	–
MKTX	Exit	MARKETAXESS HLDGS INC	$0	–	-2,441	–	-0.09%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-16,847	–	-0.10%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-6,011	–	-0.12%	–
EWH	Exit	ISHARES INCmsci hong kg etf	$0	–	-54,725	–	-0.13%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-10,164	–	-0.14%	–
APD	Exit	AIR PRODS & CHEMS INC	$0	–	-5,721	–	-0.14%	–
EWA	Exit	ISHARES INCmsci aust etf	$0	–	-57,728	–	-0.14%	–
MAR	Exit	MARRIOTT INTL INC NEWcl a	$0	–	-10,396	–	-0.14%	–
BR	Exit	BROADRIDGE FINL SOLUTIONS IN	$0	–	-10,566	–	-0.14%	–
ADBE	Exit	ADOBE INC	$0	–	-4,761	–	-0.14%	–
MMM	Exit	3M CO	$0	–	-8,047	–	-0.14%	–
BLK	Exit	BLACKROCK INC	$0	–	-2,984	–	-0.14%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-14,090	–	-0.15%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-1,143	–	-0.15%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-11,421	–	-0.16%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-20,496	–	-0.16%	–
CERN	Exit	CERNER CORP	$0	–	-22,982	–	-0.17%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-1,294	–	-0.17%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-17,125	–	-0.17%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-6,137	–	-0.18%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-8,700	–	-0.18%	–
DLR	Exit	DIGITAL RLTY TR INC	$0	–	-13,078	–	-0.18%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-9,557	–	-0.18%	–
NDAQ	Exit	NASDAQ INC	$0	–	-17,369	–	-0.19%	–
TRU	Exit	TRANSUNION	$0	–	-21,320	–	-0.19%	–
SY	Exit	SO YOUNG INTERNATIONAL INCsponsored ads	$0	–	-190,311	–	-0.19%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-12,637	–	-0.19%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-3,043	–	-0.20%	–
ILMN	Exit	ILLUMINA INC	$0	–	-6,012	–	-0.20%	–
SPLK	Exit	SPLUNK INC	$0	–	-15,566	–	-0.20%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-3,410	–	-0.20%	–
WUBA	Exit	58 COM INCspon adr rep a	$0	–	-37,471	–	-0.20%	–
MCO	Exit	MOODYS CORP	$0	–	-9,291	–	-0.21%	–
EQIX	Exit	EQUINIX INC	$0	–	-3,330	–	-0.21%	–
IT	Exit	GARTNER INC	$0	–	-13,575	–	-0.21%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-7,984	–	-0.21%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-6,831	–	-0.22%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-29,788	–	-0.22%	–
NKE	Exit	NIKE INCcl b	$0	–	-21,381	–	-0.22%	–
RMD	Exit	RESMED INC	$0	–	-15,155	–	-0.22%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-14,125	–	-0.23%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-11,164	–	-0.23%	–
EL	Exit	LAUDER ESTEE COS INCcl a	$0	–	-10,677	–	-0.23%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-14,104	–	-0.24%	–
MSCI	Exit	MSCI INC	$0	–	-10,283	–	-0.24%	–
V	Exit	VISA INC	$0	–	-13,192	–	-0.25%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-18,303	–	-0.25%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-8,508	–	-0.25%	–
VGT	Exit	VANGUARD WORLD FDSinf tech etf	$0	–	-11,043	–	-0.26%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-42,468	–	-0.26%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,415	–	-0.27%	–
TAL	Exit	TAL EDUCATION GROUPsponsored ads	$0	–	-72,311	–	-0.27%	–
EWC	Exit	ISHARES INCmsci cda etf	$0	–	-98,389	–	-0.31%	–
YY	Exit	YY INCsponsored ads a	$0	–	-53,056	–	-0.32%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-22,200	–	-0.33%	–
WB	Exit	WEIBO CORPsponsored adr	$0	–	-70,737	–	-0.34%	–
CMG	Exit	CHIPOTLE MEXICAN GRILL INC	$0	–	-4,222	–	-0.38%	–
HEFA	Exit	ISHARES TRhdg msci eafe	$0	–	-128,266	–	-0.42%	–
EDU	Exit	NEW ORIENTAL ED & TECH GRP Ispon adr	$0	–	-36,954	–	-0.44%	–
PDD	Exit	PINDUODUO INCsponsored ads	$0	–	-140,338	–	-0.49%	–
HUYA	Exit	HUYA INC	$0	–	-226,863	–	-0.58%	–
DBEF	Exit	DBX ETF TRxtrack msci eafe	$0	–	-230,121	–	-0.80%	–
JD	Exit	JD COM INCspon adr cl a	$0	–	-274,457	–	-0.84%	–
BILI	Exit	BILIBILI INCspons ads rep z	$0	–	-557,042	–	-0.85%	–
MOMO	Exit	MOMO INCadr	$0	–	-426,945	–	-1.43%	–
VOO	Exit	VANGUARD INDEX FDS	$0	–	-60,539	–	-1.79%	–
DOYU	Exit	DOUYU INTERNATIONAL HLDNGS Lsponsored ads	$0	–	-2,621,007	–	-2.32%	–
GDS	Exit	GDS HLDGS LTDsponsored ads	$0	–	-569,031	–	-2.47%	–
CTRP	Exit	CTRIP COM INTL LTDsponsored ads	$0	–	-843,905	–	-2.68%	–
HTHT	Exit	HUAZHU GROUP LTDsponsored ads	$0	–	-1,139,096	–	-4.07%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-1,114,373	–	-20.17%	–
BID	Exit	SOTHEBYS	$0	–	-7,939,661	–	-48.96%	–

Q3 2019

			Value		Shares		↓ Weighting
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$186,357,000	+36.5%	1,114,373	+38.3%	20.17%	+29.0%
HTHT	Buy	HUAZHU GROUP LTDsponsored ads	$37,613,000	+15.1%	1,139,096	+24.6%	4.07%	+8.7%
CTRP	Buy	CTRIP COM INTL LTDsponsored ads	$24,718,000	+135.3%	843,905	+210.3%	2.68%	+122.4%
GDS	Buy	GDS HLDGS LTDsponsored ads	$22,807,000	+30.1%	569,031	+22.0%	2.47%	+23.0%
DOYU	New	DOUYU INTERNATIONAL HLDNGS Lsponsored ads	$21,466,000	–	2,621,007	–	2.32%	–
VOO	New	VANGUARD INDEX FDS	$16,503,000	–	60,539	–	1.79%	–
MOMO	Sell	MOMO INCadr	$13,227,000	-49.1%	426,945	-34.7%	1.43%	-51.8%
BILI	Buy	BILIBILI INCspons ads rep z	$7,865,000	+60.8%	557,042	+26.2%	0.85%	+52.0%
JD	Buy	JD COM INCspon adr cl a	$7,742,000	-5.4%	274,457	+1.6%	0.84%	-10.6%
DBEF	New	DBX ETF TRxtrack msci eafe	$7,442,000	–	230,121	–	0.80%	–
HUYA	Sell	HUYA INC	$5,363,000	-70.0%	226,863	-68.6%	0.58%	-71.6%
PDD	Sell	PINDUODUO INCsponsored ads	$4,522,000	-49.5%	140,338	-67.7%	0.49%	-52.3%
EDU	New	NEW ORIENTAL ED & TECH GRP Ispon adr	$4,093,000	–	36,954	–	0.44%	–
HEFA	New	ISHARES TRhdg msci eafe	$3,840,000	–	128,266	–	0.42%	–
WB	Buy	WEIBO CORPsponsored adr	$3,165,000	+90.7%	70,737	+311.0%	0.34%	+80.5%
MSFT	Buy	MICROSOFT CORP	$3,086,000	+45.8%	22,200	+40.6%	0.33%	+38.0%
YY	Sell	YY INCsponsored ads a	$2,983,000	-70.0%	53,056	-52.5%	0.32%	-71.6%
TAL	Sell	TAL EDUCATION GROUPsponsored ads	$2,476,000	-60.7%	72,311	-61.8%	0.27%	-62.9%
AMZN	Buy	AMAZON COM INC	$2,456,000	+33.0%	1,415	+45.1%	0.27%	+26.1%
QQQ	Sell	INVESCO QQQ TRunit ser 1	$2,108,000	-49.4%	11,164	-50.0%	0.23%	-52.2%
IT	Buy	GARTNER INC	$1,941,000	+5.0%	13,575	+18.1%	0.21%	-0.9%
SY	New	SO YOUNG INTERNATIONAL INCsponsored ads	$1,757,000	–	190,311	–	0.19%	–
FB	Buy	FACEBOOK INCcl a	$1,702,000	+3.5%	9,557	+12.2%	0.18%	-2.1%
GOOG	New	ALPHABET INCcap stk cl c	$1,393,000	–	1,143	–	0.15%	–
ADBE	New	ADOBE INC	$1,315,000	–	4,761	–	0.14%	–
BR	New	BROADRIDGE FINL SOLUTIONS IN	$1,315,000	–	10,566	–	0.14%	–
MKTX	New	MARKETAXESS HLDGS INC	$799,000	–	2,441	–	0.09%	–
DIS	New	DISNEY WALT CO	$463,000	–	3,554	–	0.05%	–
LYV	New	LIVE NATION ENTERTAINMENT IN	$413,000	–	6,219	–	0.04%	–
WDAY	New	WORKDAY INCcl a	$418,000	–	2,458	–	0.04%	–
VNET	New	21VIANET GROUP INCsponsored ads a	$179,000	–	23,429	–	0.02%	–
EWS	Exit	ISHARES INCmsci singpor etf	$0	–	-16,325	–	-0.05%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-5,354	–	-0.08%	–
VCR	Exit	VANGUARD WORLD FDSconsum dis etf	$0	–	-4,799	–	-0.10%	–
NLSN	Exit	NIELSEN HLDGS PLC	$0	–	-40,529	–	-0.10%	–
IQ	Exit	IQIYI INC-ADRsponsored ads	$0	–	-120,695	–	-0.28%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-291,127	–	-3.91%	–

Q2 2019

			Value		Shares		↓ Weighting
BID	New	SOTHEBYS	$461,532,000	–	7,939,661	–	52.86%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$136,521,000	–	805,673	–	15.64%	–
BIDU	New	BAIDU INCspon adr rep a	$34,167,000	–	291,127	–	3.91%	–
HTHT	New	HUAZHU GROUP LTDsponsored ads	$32,691,000	–	914,295	–	3.74%	–
MOMO	New	MOMO INCadr	$25,970,000	–	653,835	–	2.97%	–
HUYA	New	HUYA INC	$17,854,000	–	722,535	–	2.04%	–
GDS	New	GDS HLDGS LTDsponsored ads	$17,529,000	–	466,568	–	2.01%	–
CTRP	New	CTRIP COM INTL LTDsponsored ads	$10,505,000	–	271,981	–	1.20%	–
YY	New	YY INCsponsored ads a	$9,938,000	–	111,589	–	1.14%	–
PDD	New	PINDUODUO INCsponsored ads	$8,961,000	–	434,368	–	1.03%	–
JD	New	JD COM INCspon adr cl a	$8,186,000	–	270,257	–	0.94%	–
TAL	New	TAL EDUCATION GROUPsponsored ads	$6,304,000	–	189,213	–	0.72%	–
BILI	New	BILIBILI INCspons ads rep z	$4,890,000	–	441,337	–	0.56%	–
QQQ	New	INVESCO QQQ TRunit ser 1	$4,169,000	–	22,323	–	0.48%	–
CMG	New	CHIPOTLE MEXICAN GRILL INC	$3,094,000	–	4,222	–	0.35%	–
EWC	New	ISHARES INCmsci cda etf	$2,816,000	–	98,389	–	0.32%	–
IQ	New	IQIYI INC-ADRsponsored ads	$2,492,000	–	120,695	–	0.28%	–
MSCI	New	MSCI INC	$2,455,000	–	10,283	–	0.28%	–
VGT	New	VANGUARD WORLD FDSinf tech etf	$2,329,000	–	11,043	–	0.27%	–
WUBA	New	58 COM INCspon adr rep a	$2,330,000	–	37,471	–	0.27%	–
EWJ	New	ISHARES INCmsci jpn etf new	$2,318,000	–	42,468	–	0.26%	–
V	New	VISA INC	$2,289,000	–	13,192	–	0.26%	–
IQV	New	IQVIA HLDGS INC	$2,273,000	–	14,125	–	0.26%	–
MA	New	MASTERCARD INCcl a	$2,251,000	–	8,508	–	0.26%	–
ILMN	New	ILLUMINA INC	$2,213,000	–	6,012	–	0.25%	–
MSFT	New	MICROSOFT CORP	$2,116,000	–	15,795	–	0.24%	–
ZTS	New	ZOETIS INCcl a	$2,077,000	–	18,303	–	0.24%	–
VRSK	New	VERISK ANALYTICS INC	$2,066,000	–	14,104	–	0.24%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$2,006,000	–	6,831	–	0.23%	–
SPLK	New	SPLUNK INC	$1,957,000	–	15,566	–	0.22%	–
EL	New	LAUDER ESTEE COS INCcl a	$1,955,000	–	10,677	–	0.22%	–
INFO	New	IHS MARKIT LTD	$1,898,000	–	29,788	–	0.22%	–
IT	New	GARTNER INC	$1,849,000	–	11,490	–	0.21%	–
RMD	New	RESMED INC	$1,849,000	–	15,155	–	0.21%	–
AMZN	New	AMAZON COM INC	$1,846,000	–	975	–	0.21%	–
SPGI	New	S&P GLOBAL INC	$1,819,000	–	7,984	–	0.21%	–
MCO	New	MOODYS CORP	$1,815,000	–	9,291	–	0.21%	–
NKE	New	NIKE INCcl b	$1,795,000	–	21,381	–	0.21%	–
ISRG	New	INTUITIVE SURGICAL INC	$1,789,000	–	3,410	–	0.20%	–
IDXX	New	IDEXX LABS INC	$1,690,000	–	6,137	–	0.19%	–
CERN	New	CERNER CORP	$1,685,000	–	22,982	–	0.19%	–
KMB	New	KIMBERLY CLARK CORP	$1,684,000	–	12,637	–	0.19%	–
CSGP	New	COSTAR GROUP INC	$1,686,000	–	3,043	–	0.19%	–
EQIX	New	EQUINIX INC	$1,679,000	–	3,330	–	0.19%	–
NDAQ	New	NASDAQ INC	$1,670,000	–	17,369	–	0.19%	–
WB	New	WEIBO CORPsponsored adr	$1,660,000	–	17,210	–	0.19%	–
ALGN	New	ALIGN TECHNOLOGY INC	$1,645,000	–	6,011	–	0.19%	–
FB	New	FACEBOOK INCcl a	$1,644,000	–	8,516	–	0.19%	–
ACN	New	ACCENTURE PLC IRELAND	$1,607,000	–	8,700	–	0.18%	–
TRU	New	TRANSUNION	$1,567,000	–	21,320	–	0.18%	–
DLR	New	DIGITAL RLTY TR INC	$1,540,000	–	13,078	–	0.18%	–
IFF	New	INTERNATIONAL FLAVORS&FRAGRA	$1,475,000	–	10,164	–	0.17%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$1,472,000	–	17,125	–	0.17%	–
CL	New	COLGATE PALMOLIVE CO	$1,469,000	–	20,496	–	0.17%	–
MAR	New	MARRIOTT INTL INC NEWcl a	$1,458,000	–	10,396	–	0.17%	–
EA	New	ELECTRONIC ARTS INC	$1,427,000	–	14,090	–	0.16%	–
EWH	New	ISHARES INCmsci hong kg etf	$1,416,000	–	54,725	–	0.16%	–
MMM	New	3M CO	$1,395,000	–	8,047	–	0.16%	–
GOOGL	New	ALPHABET INCcap stk cl a	$1,401,000	–	1,294	–	0.16%	–
BLK	New	BLACKROCK INC	$1,400,000	–	2,984	–	0.16%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$1,297,000	–	11,421	–	0.15%	–
EWA	New	ISHARES INCmsci aust etf	$1,301,000	–	57,728	–	0.15%	–
APD	New	AIR PRODS & CHEMS INC	$1,295,000	–	5,721	–	0.15%	–
NLSN	New	NIELSEN HLDGS PLC	$916,000	–	40,529	–	0.10%	–
VCR	New	VANGUARD WORLD FDSconsum dis etf	$861,000	–	4,799	–	0.10%	–
ATVI	New	ACTIVISION BLIZZARD INC	$795,000	–	16,847	–	0.09%	–
JNJ	New	JOHNSON & JOHNSON	$746,000	–	5,354	–	0.08%	–
EWS	New	ISHARES INCmsci singpor etf	$403,000	–	16,325	–	0.05%	–

Q4 2018

			Value		Shares		↓ Weighting
EWU	Exit	ISHARES TRmsci uk etf new	$0	–	-7,909	–	-0.03%	–
EWS	Exit	ISHARES INCmsci singpor etf	$0	–	-16,325	–	-0.05%	–
EWP	Exit	ISHARES INCmsci spain etf	$0	–	-16,409	–	-0.06%	–
EWI	Exit	ISHARES INCmsci italy etf	$0	–	-19,587	–	-0.07%	–
IYF	Exit	ISHARES TRu.s. finls etf	$0	–	-5,198	–	-0.08%	–
VFH	Exit	VANGUARD WORLD FDSfinancials etf	$0	–	-10,867	–	-0.09%	–
EWN	Exit	ISHARES INCmsci netherl etf	$0	–	-25,000	–	-0.09%	–
NLSN	Exit	NIELSEN HLDGS PLC	$0	–	-32,102	–	-0.11%	–
TSN	Exit	TYSON FOODS INCcl a	$0	–	-16,819	–	-0.12%	–
SRCL	Exit	STERICYCLE INC	$0	–	-17,679	–	-0.13%	–
CL	Exit	COLGATE PALMOLIVE CO	$0	–	-16,988	–	-0.14%	–
MMM	Exit	3M CO	$0	–	-5,384	–	-0.14%	–
BLK	Exit	BLACKROCK INC	$0	–	-2,439	–	-0.14%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-7,049	–	-0.14%	–
XNET	Exit	XUNLEI LTDsponsored adr	$0	–	-159,446	–	-0.14%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-20,851	–	-0.14%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-10,581	–	-0.15%	–
IFF	Exit	INTERNATIONAL FLAVORS&FRAGRA	$0	–	-8,630	–	-0.15%	–
EQIX	Exit	EQUINIX INC	$0	–	-2,796	–	-0.15%	–
NCLH	Exit	NORWEGIAN CRUISE LINE HLDG L	$0	–	-21,417	–	-0.15%	–
DLR	Exit	DIGITAL RLTY TR INC	$0	–	-11,134	–	-0.15%	–
CERN	Exit	CERNER CORP	$0	–	-19,328	–	-0.15%	–
NDAQ	Exit	NASDAQ INC	$0	–	-14,794	–	-0.16%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-9,159	–	-0.16%	–
DVA	Exit	DAVITA INC	$0	–	-17,642	–	-0.16%	–
EWA	Exit	ISHARES INCmsci aust etf	$0	–	-57,728	–	-0.16%	–
EWH	Exit	ISHARES INCmsci hong kg etf	$0	–	-54,725	–	-0.16%	–
EL	Exit	LAUDER ESTEE COS INCcl a	$0	–	-9,014	–	-0.16%	–
MCO	Exit	MOODYS CORP	$0	–	-7,854	–	-0.16%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-6,780	–	-0.16%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-1,103	–	-0.16%	–
EDU	Exit	NEW ORIENTAL ED & TECH GRP Ispon adr	$0	–	-18,533	–	-0.17%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-25,536	–	-0.17%	–
CTRP	Exit	CTRIP COM INTL LTD	$0	–	-38,133	–	-0.17%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-5,891	–	-0.18%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-15,923	–	-0.18%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-12,235	–	-0.18%	–
RMD	Exit	RESMED INC	$0	–	-13,037	–	-0.18%	–
HTHT	Exit	HUAZHU GROUP LTDsponsored ads	$0	–	-48,116	–	-0.19%	–
NKE	Exit	NIKE INCcl b	$0	–	-18,437	–	-0.19%	–
MSCI	Exit	MSCI INC	$0	–	-8,820	–	-0.19%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-13,743	–	-0.19%	–
IT	Exit	GARTNER INC	$0	–	-9,987	–	-0.19%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-12,321	–	-0.20%	–
SPLK	Exit	SPLUNK INC	$0	–	-13,286	–	-0.20%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-7,418	–	-0.20%	–
CMG	Exit	CHIPOTLE MEXICAN GRILL INC	$0	–	-3,742	–	-0.21%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-2,985	–	-0.21%	–
AMZN	Exit	AMAZON COM INC	$0	–	-858	–	-0.21%	–
V	Exit	VISA INC	$0	–	-11,621	–	-0.21%	–
ILMN	Exit	ILLUMINA INC	$0	–	-5,306	–	-0.24%	–
ATHM	Exit	AUTOHOME INCsp adr rp cl a	$0	–	-25,901	–	-0.25%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-5,158	–	-0.25%	–
EWG	Exit	ISHARES INCmsci germany etf	$0	–	-81,244	–	-0.30%	–
BEDU	Exit	BRIGHT SCHOLAR ED HLDGS LTDsponsored ads	$0	–	-200,398	–	-0.30%	–
EWQ	Exit	ISHARES INCmsci france etf	$0	–	-80,561	–	-0.31%	–
EWC	Exit	ISHARES INCmsci cda etf	$0	–	-98,389	–	-0.35%	–
QD	Exit	QUDIAN INCadr	$0	–	-589,097	–	-0.38%	–
IQ	Exit	IQIYI INCsponsored ads	$0	–	-149,310	–	-0.50%	–
VCR	Exit	VANGUARD WORLD FDSconsum dis etf	$0	–	-26,948	–	-0.60%	–
BZUN	Exit	BAOZUN INCsponsored adr	$0	–	-114,081	–	-0.68%	–
EWJ	Exit	ISHARES INCmsci jpn etf new	$0	–	-106,161	–	-0.78%	–
VGT	Exit	VANGUARD WORLD FDSinf tech etf	$0	–	-39,231	–	-0.97%	–
PDD	Exit	PINDUODUO INCsponsored ads	$0	–	-343,516	–	-1.11%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX Fftse europe etf	$0	–	-168,090	–	-1.16%	–
MOMO	Exit	MOMO INCadr	$0	–	-235,870	–	-1.26%	–
QQQ	Exit	INVESCO QQQ TRunit ser 1	$0	–	-73,249	–	-1.67%	–
ZTO	Exit	ZTO EXPRESS CAYMAN INCsponsored adr	$0	–	-2,616,893	–	-5.31%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-238,421	–	-6.68%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-1,062,961	–	-21.45%	–
BID	Exit	SOTHEBYS	$0	–	-7,939,661	–	-47.84%	–

Q3 2018

			Value		Shares		↓ Weighting
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$175,133,000	+9.3%	1,062,961	+23.1%	21.45%	+18.0%
ZTO	Buy	ZTO EXPRESS CAYMAN INCsponsored adr	$43,362,000	+130.7%	2,616,893	+178.4%	5.31%	+149.2%
QQQ	Sell	INVESCO QQQ TRunit ser 1	$13,609,000	+8.2%	73,249	-0.0%	1.67%	+16.9%
MOMO	Sell	MOMO INCadr	$10,331,000	-62.5%	235,870	-62.8%	1.26%	-59.6%
PDD	New	PINDUODUO INCsponsored ads	$9,031,000	–	343,516	–	1.11%	–
EWJ	Buy	ISHARES INCmsci jpn etf new	$6,394,000	+100.4%	106,161	+92.7%	0.78%	+116.3%
BZUN	New	BAOZUN INCsponsored adr	$5,542,000	–	114,081	–	0.68%	–
IQ	New	IQIYI INCsponsored ads	$4,042,000	–	149,310	–	0.50%	–
BEDU	New	BRIGHT SCHOLAR ED HLDGS LTDsponsored ads	$2,483,000	–	200,398	–	0.30%	–
ATHM	Sell	AUTOHOME INCsp adr rp cl a	$2,005,000	-86.3%	25,901	-82.1%	0.25%	-85.2%
HTHT	Sell	HUAZHU GROUP LTDsponsored ads	$1,554,000	-96.2%	48,116	-95.1%	0.19%	-95.9%
CTRP	Sell	CTRIP COM INTL LTD	$1,417,000	-71.9%	38,133	-64.0%	0.17%	-69.6%
GOOGL	New	ALPHABET INCcap stk cl a	$1,331,000	–	1,103	–	0.16%	–
EWH	Sell	ISHARES INCmsci hong kg etf	$1,309,000	-70.4%	54,725	-70.0%	0.16%	-68.1%
BLK	New	BLACKROCK INC	$1,150,000	–	2,439	–	0.14%	–
CLB	Exit	CORE LABORATORIES NV	$0	–	-10,823	–	-0.16%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-1,779	–	-0.23%	–
WUBA	Exit	58.COM INCspon adr rep a	$0	–	-157,768	–	-1.24%	–

Q2 2018

			Value		Shares		↓ Weighting
BID	New	SOTHEBY'S	$431,441,000	–	7,939,661	–	48.94%	–
BABA	New	ALIBABA GROUP HOLDINGsponsored ads	$160,264,000	–	863,819	–	18.18%	–
BIDU	New	BAIDU INCspon adr rep a	$57,936,000	–	238,421	–	6.57%	–
HTHT	New	HUAZHU GROUP LIMITEDsponsored ads	$40,873,000	–	973,391	–	4.64%	–
MOMO	New	MOMO INCadr	$27,581,000	–	634,053	–	3.13%	–
ZTO	New	ZTO EXPRESS (CAYMAN) INCsponsored adr	$18,797,000	–	939,861	–	2.13%	–
ATHM	New	AUTOHOME INCsp adr rp cl a	$14,640,000	–	144,948	–	1.66%	–
QQQ	New	INVESCO QQQ TRUST SERIES 1unit ser 1	$12,574,000	–	73,256	–	1.43%	–
WUBA	New	58.COM INCspon adr rep a	$10,940,000	–	157,768	–	1.24%	–
VGK	New	VANGUARD EUROPEAN STOCK INDEX FUND;ETFftse europe etf	$9,435,000	–	168,090	–	1.07%	–
VGT	New	VANGUARD INFORMATION TECHNOLOGY INDEX FUND;ETFinf tech etf	$7,117,000	–	39,231	–	0.81%	–
QD	New	QUDIAN INCadr	$5,219,000	–	589,097	–	0.59%	–
CTRP	New	CTRIP.COM INTERNATIONAL LTD	$5,039,000	–	105,796	–	0.57%	–
VCR	New	VANGUARD CONSUMER DISCRETIONARY INDEX FUND;ETFconsum dis etf	$4,571,000	–	26,948	–	0.52%	–
EWH	New	ISHARES MSCI HONG KONG ETFmsci hong kg etf	$4,416,000	–	182,411	–	0.50%	–
EWJ	New	ISHARES MSCI JAPAN ETFmsci jpn etf new	$3,190,000	–	55,079	–	0.36%	–
EWC	New	ISHARES MSCI CANADA ETFmsci cda etf	$2,805,000	–	98,389	–	0.32%	–
EWQ	New	ISHARES MSCI FRANCE ETFmsci france etf	$2,459,000	–	80,561	–	0.28%	–
EWG	New	ISHARES MSCI GERMANY ETFmsci germany etf	$2,436,000	–	81,244	–	0.28%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,000,000	–	1,779	–	0.23%	–
ALGN	New	ALIGN TECHNOLOGY INC	$1,765,000	–	5,158	–	0.20%	–
EDU	New	NEW ORIENTAL EDUCATION & TECH GRPspon adr	$1,754,000	–	18,533	–	0.20%	–
XNET	New	XUNLEI LIMITEDsponsored adr	$1,706,000	–	159,446	–	0.19%	–
CMG	New	CHIPOTLE MEXICAN GRILL INC	$1,614,000	–	3,742	–	0.18%	–
V	New	VISA INC	$1,539,000	–	11,621	–	0.18%	–
ILMN	New	ILLUMINA INC	$1,482,000	–	5,306	–	0.17%	–
NKE	New	NIKE INCcl b	$1,469,000	–	18,437	–	0.17%	–
MSCI	New	MSCI INC	$1,459,000	–	8,820	–	0.17%	–
AMZN	New	AMAZON.COM INC	$1,458,000	–	858	–	0.16%	–
MA	New	MASTERCARD INCORPORATEDcl a	$1,458,000	–	7,418	–	0.16%	–
ISRG	New	INTUITIVE SURGICAL INC	$1,428,000	–	2,985	–	0.16%	–
SPGI	New	S&P GLOBAL INC	$1,382,000	–	6,780	–	0.16%	–
CLB	New	CORE LABORATORIES NV	$1,366,000	–	10,823	–	0.16%	–
FB	New	FACEBOOK INCcl a	$1,370,000	–	7,049	–	0.16%	–
ZTS	New	ZOETIS INCcl a	$1,356,000	–	15,923	–	0.15%	–
MSFT	New	MICROSOFT CORP	$1,355,000	–	13,743	–	0.15%	–
NDAQ	New	NASDAQ INC	$1,350,000	–	14,794	–	0.15%	–
RMD	New	RESMED INC	$1,350,000	–	13,037	–	0.15%	–
MCO	New	MOODY'S CORP	$1,340,000	–	7,854	–	0.15%	–
IT	New	GARTNER INC	$1,327,000	–	9,987	–	0.15%	–
VRSK	New	VERISK ANALYTICS INC	$1,317,000	–	12,235	–	0.15%	–
SPLK	New	SPLUNK INC	$1,317,000	–	13,286	–	0.15%	–
INFO	New	IHS MARKIT	$1,317,000	–	25,536	–	0.15%	–
EWA	New	ISHARES MSCI AUSTRALIA ETFmsci aust etf	$1,305,000	–	57,728	–	0.15%	–
EL	New	ESTEE LAUDER COMPANIES INCcl a	$1,286,000	–	9,014	–	0.15%	–
DLR	New	DIGITAL REALTY TRUST INC	$1,242,000	–	11,134	–	0.14%	–
IQV	New	IQVIA HOLDINGS INC	$1,230,000	–	12,321	–	0.14%	–
DVA	New	DAVITA INC	$1,225,000	–	17,642	–	0.14%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$1,220,000	–	5,891	–	0.14%	–
EQIX	New	EQUINIX INC	$1,202,000	–	2,796	–	0.14%	–
CERN	New	CERNER CORP	$1,156,000	–	19,328	–	0.13%	–
SRCL	New	STERICYCLE INC	$1,154,000	–	17,679	–	0.13%	–
TSN	New	TYSON FOODS INCcl a	$1,158,000	–	16,819	–	0.13%	–
KMB	New	KIMBERLY-CLARK CORP	$1,115,000	–	10,581	–	0.13%	–
JNJ	New	JOHNSON & JOHNSON	$1,111,000	–	9,159	–	0.13%	–
CL	New	COLGATE-PALMOLIVE CO	$1,101,000	–	16,988	–	0.12%	–
IFF	New	INTERNATIONAL FLAVORS & FRAGRANCES INC	$1,070,000	–	8,630	–	0.12%	–
MMM	New	3M CO	$1,059,000	–	5,384	–	0.12%	–
SBUX	New	STARBUCKS CORP	$1,019,000	–	20,851	–	0.12%	–
NCLH	New	NORWEGIAN CRUISE LINE HOLDINGS LTD	$1,012,000	–	21,417	–	0.12%	–
NLSN	New	NIELSEN HLDGS PLC	$993,000	–	32,102	–	0.11%	–
EWN	New	ISHARES MSCI NETHERLANDS ETFmsci netherl etf	$763,000	–	25,000	–	0.09%	–
VFH	New	VANGUARD FINANCIALS INDEX FUND;ETFfinancials etf	$733,000	–	10,867	–	0.08%	–
IYF	New	ISHARES US FINANCIALS ETFu.s. finls etf	$609,000	–	5,198	–	0.07%	–
EWI	New	ISHARES MSCI ITALY ETFmsci italy etf	$566,000	–	19,587	–	0.06%	–
EWP	New	ISHARES MSCI SPAIN ETFmsci spain etf	$498,000	–	16,409	–	0.06%	–
EWS	New	ISHARES MSCI SINGAPORE ETFmsci singpor etf	$392,000	–	16,325	–	0.04%	–
EWU	New	ISHARES MSCI UNITED KINGDOM ETFmsci uk etf new	$275,000	–	7,909	–	0.03%	–

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