Schedule of Investments (Unaudited) June 30, 2022
KraneShares CICC China Leaders 100 Index ETF
Shares | Value | |||||||
COMMON STOCK — 98.7% ‡ | ||||||||
China — 98.7% | ||||||||
Communication Services — 1.6% | ||||||||
37 Interactive Entertainment Network Technology Group, Cl A | 16,600 | $ | 52,566 | |||||
China South Publishing & Media Group, Cl A | 8,900 | 12,532 | ||||||
Chinese Universe Publishing and Media Group, Cl A | 8,500 | 12,666 | ||||||
Perfect World, Cl A | 14,500 | 31,080 | ||||||
108,844 | ||||||||
Consumer Discretionary — 12.5% | ||||||||
Chow Tai Seng Jewellery, Cl A | 5,400 | 12,509 | ||||||
Gree Electric Appliances of Zhuhai, Cl A | 56,700 | 285,183 | ||||||
Guangzhou Automobile Group, Cl A | 27,100 | 61,604 | ||||||
Hisense Home Appliances Group, Cl A | 5,600 | 11,844 | ||||||
Huayu Automotive Systems, Cl A | 19,700 | 67,584 | ||||||
KingClean Electric, Cl A | 1,400 | 5,269 | ||||||
Midea Group, Cl A | 36,300 | 326,983 | ||||||
Rainbow Digital Commercial, Cl A | 6,000 | 6,381 | ||||||
Wanxiang Qianchao, Cl A | 16,600 | 14,708 | ||||||
Wuchan Zhongda Group, Cl A | 38,900 | 29,766 | ||||||
Zhejiang Wanfeng Auto Wheel, Cl A * | 19,100 | 15,299 | ||||||
837,130 | ||||||||
Consumer Staples — 10.9% | ||||||||
Anhui Kouzi Distillery, Cl A | 4,500 | 39,340 | ||||||
Anhui Yingjia Distillery, Cl A | 3,000 | 29,149 | ||||||
Bright Dairy & Food, Cl A | 8,600 | 16,202 | ||||||
Heilongjiang Agriculture, Cl A | 8,900 | 19,594 | ||||||
Henan Shuanghui Investment & Development, Cl A | 21,600 | 94,401 | ||||||
Inner Mongolia Yili Industrial Group, Cl A | 57,300 | 332,901 | ||||||
Jiangsu Yanghe Brewery JSC, Cl A | 7,400 | 202,158 | ||||||
733,745 | ||||||||
Energy — 8.0% | ||||||||
China Shenhua Energy, Cl A | 41,100 | 204,145 | ||||||
Inner Mongolia Dian Tou Energy, Cl A | 9,600 | 20,506 | ||||||
Pingdingshan Tianan Coal Mining, Cl A | 14,700 | 29,798 | ||||||
Shaanxi Coal Industry, Cl A | 48,300 | 152,590 | ||||||
Shan Xi Hua Yang Group New Energy, Cl A | 15,000 | 34,590 | ||||||
Shanxi Lu’an Environmental Energy Development, Cl A | 15,000 | 32,711 | ||||||
Yankuang Energy Group, Cl A | 11,200 | 65,955 | ||||||
540,295 | ||||||||
Financials — 28.6% | ||||||||
Agricultural Bank of China, Cl A | 437,800 | 197,213 | ||||||
Bank of China, Cl A | 262,800 | 127,790 | ||||||
Bank of Communications, Cl A | 342,600 | 254,489 | ||||||
China Construction Bank, Cl A | 83,800 | 75,748 | ||||||
China Merchants Bank, Cl A | 56,100 | 353,125 |
1
Schedule of Investments (Unaudited) June 30, 2022
KraneShares CICC China Leaders 100 Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Financials — continued | ||||||||
Industrial & Commercial Bank of China, Cl A | 437,000 | $ | 310,923 | |||||
Industrial Bank, Cl A | 107,100 | 317,904 | ||||||
Postal Savings Bank of China, Cl A | 135,600 | 109,019 | ||||||
Shanghai Pudong Development Bank, Cl A | 146,300 | 174,795 | ||||||
1,921,006 | ||||||||
Health Care — 2.9% | ||||||||
Anhui Anke Biotechnology Group, Cl A | 14,300 | 21,565 | ||||||
China Animal Healthcare * (A) | 4,000 | — | ||||||
Hubei Jumpcan Pharmaceutical, Cl A | 4,300 | 17,420 | ||||||
Shandong Buchang Pharmaceuticals, Cl A | 7,100 | 20,874 | ||||||
Tibet Rhodiola Pharmaceutical Holding, Cl A | 1,500 | 9,287 | ||||||
Tonghua Dongbao Pharmaceutical, Cl A | 20,600 | 31,772 | ||||||
Yunnan Baiyao Group, Cl A | 8,800 | 79,268 | ||||||
Zhejiang Orient Gene Biotech, Cl A | 972 | 16,543 | ||||||
196,729 | ||||||||
Industrials — 9.5% | ||||||||
China Meheco, Cl A | 9,240 | 20,425 | ||||||
China State Construction Engineering, Cl A | 261,500 | 207,509 | ||||||
Jiangsu Guotai International Group, Cl A | 11,700 | 18,761 | ||||||
Jingjin Equipment, Cl A | 3,500 | 16,189 | ||||||
Metallurgical Corp of China, Cl A | 89,000 | 46,463 | ||||||
Shanghai International Port Group, Cl A | 43,600 | 37,915 | ||||||
Sinoma International Engineering, Cl A | 13,900 | 20,091 | ||||||
Sinotrans, Cl A | 19,700 | 11,401 | ||||||
Suzhou SLAC Precision Equipment, Cl A | 3,500 | 8,181 | ||||||
Tian Di Science & Technology, Cl A | 20,600 | 14,687 | ||||||
Xiamen C & D, Cl A | 21,500 | 41,915 | ||||||
Xiamen ITG Group, Cl A | 18,500 | 20,696 | ||||||
Xiamen Xiangyu, Cl A | 13,500 | 17,700 | ||||||
Xinjiang Goldwind Science & Technology, Cl A | 34,400 | 75,940 | ||||||
Zhejiang Chint Electrics, Cl A | 13,400 | 71,515 | ||||||
Zhejiang Communications Technology | 9,400 | 9,759 | ||||||
639,147 | ||||||||
Information Technology — 1.9% | ||||||||
Avary Holding Shenzhen, Cl A | 8,700 | 39,203 | ||||||
China Railway Signal & Communication, Cl A | 32,244 | 21,787 | ||||||
Digital China Group, Cl A | 5,700 | 12,940 | ||||||
Hanergy Thin Film Power Group * (A) | 65,064 | — | ||||||
Lakala Payment, Cl A * | 4,900 | 13,931 | ||||||
Universal Scientific Industrial Shanghai, Cl A | 8,300 | 17,778 | ||||||
Wuxi Taiji Industry, Cl A | 18,300 | 20,145 | ||||||
125,784 | ||||||||
Materials — 8.6% | ||||||||
Anhui Jinhe Industrial, Cl A | 4,300 | 27,791 | ||||||
Bluestar Adisseo, Cl A | 4,900 | 7,002 |
2
Schedule of Investments (Unaudited) June 30, 2022
KraneShares CICC China Leaders 100 Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — continued | ||||||||
China Jushi, Cl A | 29,928 | $ | 77,719 | |||||
China Lumena New Materials * (A) | 718 | — | ||||||
Huaibei Mining Holdings, Cl A | 12,300 | 26,713 | ||||||
LB Group, Cl A | 14,900 | 44,561 | ||||||
Liao Ning Oxiranchem, Cl A | 4,200 | 7,342 | ||||||
Luxi Chemical Group, Cl A | 14,300 | 36,880 | ||||||
Shandong Dongyue Organosilicon Material, Cl A | 4,400 | 12,063 | ||||||
Shenzhen Jinjia Group, Cl A | 12,900 | 20,627 | ||||||
Shenzhen Zhongjin Lingnan Nonfemet, Cl A | 31,900 | 21,222 | ||||||
Tianhe Chemicals Group * (A) | 40,000 | — | ||||||
Valiant | 6,900 | 21,469 | ||||||
Xinyu Iron & Steel, Cl A | 23,900 | 17,967 | ||||||
Zhejiang Jiahua Energy Chemical Industry, Cl A | 12,400 | 20,087 | ||||||
Zijin Mining Group, Cl A | 171,100 | 238,114 | ||||||
579,557 | ||||||||
Real Estate — 6.3% | ||||||||
China Vanke, Cl A | 84,900 | 259,606 | ||||||
Financial Street Holdings, Cl A | 14,900 | 13,224 | ||||||
Gemdale, Cl A | 28,100 | 56,332 | ||||||
Seazen Holdings, Cl A * | 11,200 | 42,483 | ||||||
Zhejiang China Commodities City Group, Cl A | 34,200 | 28,414 | ||||||
Zhuhai Huafa Properties, Cl A | 21,200 | 23,938 | ||||||
423,997 | ||||||||
Utilities — 7.9% | ||||||||
CGN Power, Cl A | 147,100 | 61,436 | ||||||
China National Nuclear Power, Cl A | 117,500 | 120,230 | ||||||
China Yangtze Power, Cl A | 96,200 | 331,754 | ||||||
Fujian Funeng, Cl A | 7,100 | 14,901 | ||||||
528,321 | ||||||||
TOTAL CHINA | 6,634,555 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $6,509,916) | 6,634,555 | |||||||
TOTAL INVESTMENTS — 98.7% | ||||||||
(Cost $6,509,916) | 6,634,555 | |||||||
OTHER ASSETS LESS LIABILITIES – 1.3% | 85,350 | |||||||
NET ASSETS - 100% | $ | 6,719,905 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
(A) | Level 3 security in accordance with fair value hierarchy. |
Cl — Class
JSC — Joint-Stock Company
3
Schedule of Investments (Unaudited) June 30, 2022
KraneShares CICC China Leaders 100 Index ETF
The following summarizes the market value of the Fund’s investments used as of June 30, 2022, based on the inputs used to value them:
Investments in Securities | Level 1 | Level 2 | Level 3^ | Total | ||||||||||||
Common Stock | ||||||||||||||||
China | ||||||||||||||||
Communication Services | $ | 108,844 | $ | — | $ | — | $ | 108,844 | ||||||||
Consumer Discretionary | 775,526 | 61,604 | — | 837,130 | ||||||||||||
Consumer Staples | 733,745 | — | — | 733,745 | ||||||||||||
Energy | 540,295 | — | — | 540,295 | ||||||||||||
Financials | 1,921,006 | — | — | 1,921,006 | ||||||||||||
Health Care | 196,729 | — | — | ‡‡ | 196,729 | |||||||||||
Industrials | 639,147 | — | — | 639,147 | ||||||||||||
Information Technology | 125,784 | — | — | ‡‡ | 125,784 | |||||||||||
Materials | 559,470 | 20,087 | — | ‡‡ | 579,557 | |||||||||||
Real Estate | 423,997 | — | — | 423,997 | ||||||||||||
Utilities | 528,321 | — | — | 528,321 | ||||||||||||
Total Common Stock | 6,552,864 | 81,691 | — | 6,634,555 | ||||||||||||
Total Investments in Securities | $ | 6,552,864 | $ | 81,691 | $ | — | $ | 6,634,555 |
^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |
‡‡ | Security or securities with a market value of $0. |
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-001-1800
4
Schedule of Investments (Unaudited) June 30, 2022
KraneShares CSI China Internet ETF
Shares | Value | |||||||
COMMON STOCK — 99.8% ‡ | ||||||||
China — 99.2% | ||||||||
Communication Services — 38.6% | ||||||||
Autohome ADR | 2,589,028 | $ | 101,826,471 | |||||
Baidu, Cl A * | 17,651,334 | 334,043,558 | ||||||
Bilibili, Cl Z * | 10,840,244 | 277,673,369 | ||||||
China Literature * | 20,158,000 | 97,361,166 | ||||||
Hello Group ADR * | 5,819,056 | 29,386,233 | ||||||
HUYA ADR * | 3,397,268 | 13,181,400 | ||||||
iQIYI ADR * (A) | 14,184,826 | 59,576,269 | ||||||
JOYY ADR | 1,894,244 | 56,562,126 | ||||||
Kanzhun ADR * | 11,871,541 | 311,984,098 | ||||||
Kingsoft | 43,017,000 | 167,749,278 | ||||||
Kuaishou Technology, Cl B * | 27,815,200 | 309,808,076 | ||||||
NetEase | 23,489,105 | 431,349,764 | ||||||
Tencent Holdings | 16,687,275 | 753,664,833 | ||||||
Tencent Music Entertainment Group ADR * | 23,442,567 | 117,681,686 | ||||||
Weibo ADR * | 2,900,010 | 67,077,231 | ||||||
XD * (A) | 11,423,400 | 29,770,615 | ||||||
Zhihu ADR * (A) | 20,615,767 | 36,902,223 | ||||||
3,195,598,396 | ||||||||
Consumer Discretionary — 44.5% | ||||||||
Alibaba Group Holding * | 57,779,664 | 823,956,365 | ||||||
Alibaba Health Information Technology * | 207,686,000 | 142,922,333 | ||||||
Dada Nexus ADR * | 3,374,214 | 27,364,875 | ||||||
JD Health International * | 48,276,900 | 378,674,924 | ||||||
JD.com, Cl A * | 18,319,640 | 590,191,737 | ||||||
Meituan, Cl B * | 25,152,700 | 622,490,820 | ||||||
Pinduoduo ADR * | 5,589,540 | 345,433,572 | ||||||
Ping An Healthcare and Technology * (A) | 22,044,100 | 65,315,228 | ||||||
TAL Education Group ADR * | 15,481,811 | 75,396,420 | ||||||
Tongcheng Travel Holdings * | 51,613,000 | 111,027,525 | ||||||
Trip.com Group * | 12,121,450 | 342,313,041 | ||||||
Vipshop Holdings ADR * | 15,941,995 | 157,666,331 | ||||||
3,682,753,171 | ||||||||
Financials — 4.2% | ||||||||
360 DigiTech ADR | 3,677,740 | 63,624,902 | ||||||
Lufax Holding ADR | 31,431,072 | 188,586,432 | ||||||
ZhongAn Online P&C Insurance, Cl H * (A) | 28,263,100 | 92,025,845 | ||||||
344,237,179 | ||||||||
Health Care — 0.4% | ||||||||
Yidu Tech * (A) | 22,772,100 | 27,163,020 | ||||||
Industrials — 4.1% | ||||||||
Full Truck Alliance ADR * | 37,603,686 | 340,689,395 | ||||||
Information Technology — 3.0% | ||||||||
Agora ADR * | 3,315,139 | 21,780,463 |
5
Schedule of Investments (Unaudited) June 30, 2022
KraneShares CSI China Internet ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
Chindata Group Holdings ADR * | 6,290,878 | $ | 48,817,213 | |||||
Kingsoft Cloud Holdings ADR * (A) | 5,008,870 | 22,289,472 | ||||||
Ming Yuan Cloud Group Holdings (A) | 45,512,000 | 72,847,504 | ||||||
Vnet Group ADR * | 4,739,177 | 28,624,629 | ||||||
Weimob * (A) | 81,455,000 | 55,639,299 | ||||||
249,998,580 | ||||||||
Real Estate — 4.4% | ||||||||
KE Holdings ADR * | 20,343,066 | 365,158,035 | ||||||
TOTAL CHINA | 8,205,597,776 | |||||||
Hong Kong — 0.6% | ||||||||
Communication Services — 0.6% | ||||||||
Alibaba Pictures Group * | 508,654,000 | 49,912,843 | ||||||
TOTAL HONG KONG | 49,912,843 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $10,068,290,124) | 8,255,510,619 | |||||||
SHORT-TERM INVESTMENT — 1.3% | ||||||||
Invesco Government & Agency Portfolio, Cl Institutional, 1.380% (B)(C) | 108,032,403 | 108,032,403 | ||||||
TOTAL SHORT-TERM INVESTMENT | ||||||||
(Cost $108,032,403) | 108,032,403 | |||||||
TOTAL INVESTMENTS — 101.1% | ||||||||
(Cost $10,176,322,527) | 8,363,543,022 | |||||||
OTHER ASSETS LESS LIABILITIES – (1.1)% | (89,478,108 | ) | ||||||
NET ASSETS - 100% | $ | 8,274,064,914 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at June 30, 2022. The total market value of securities on loan at June 30, 2022 was $98,703,431. |
(B) | The rate shown is the 7-day effective yield as of June 30, 2022. |
(C) | This security was purchased with cash collateral held from securities on loan. The total value of such security as of June 30, 2022 was $108,032,403. |
ADR — American Depositary Receipt
Cl — Class
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-002-1800
6
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Bosera MSCI China A Share ETF
Shares | Value | |||||||
COMMON STOCK — 99.5% ‡ | ||||||||
China — 99.5% | ||||||||
Communication Services — 1.1% | ||||||||
China United Network Communications, Cl A | 7,371,500 | $ | 3,804,390 | |||||
Focus Media Information Technology, Cl A | 3,435,602 | 3,448,823 | ||||||
7,253,213 | ||||||||
Consumer Discretionary — 7.2% | ||||||||
BYD, Cl A | 540,069 | 26,864,893 | ||||||
China Tourism Group Duty Free, Cl A | 581,532 | 20,204,684 | ||||||
47,069,577 | ||||||||
Consumer Staples — 16.7% | ||||||||
Foshan Haitian Flavouring & Food, Cl A | 539,197 | 7,267,358 | ||||||
Inner Mongolia Yili Industrial Group, Cl A | 894,812 | 5,198,671 | ||||||
Jiangsu Yanghe Brewery JSC, Cl A | 210,718 | 5,756,541 | ||||||
Kweichow Moutai, Cl A | 175,589 | 53,560,381 | ||||||
Luzhou Laojiao, Cl A | 205,746 | 7,566,095 | ||||||
Muyuan Foods, Cl A | 735,745 | 6,065,545 | ||||||
Shanxi Xinghuacun Fen Wine Factory, Cl A | 170,416 | 8,256,185 | ||||||
Wuliangye Yibin, Cl A | 542,679 | 16,345,451 | ||||||
110,016,227 | ||||||||
Energy — 2.7% | ||||||||
China Petroleum & Chemical, Cl A | 6,734,784 | 4,098,613 | ||||||
China Shenhua Energy, Cl A | 1,397,447 | 6,941,169 | ||||||
Shaanxi Coal Industry, Cl A | 2,053,960 | 6,488,898 | ||||||
17,528,680 | ||||||||
Financials — 17.2% | ||||||||
Agricultural Bank of China, Cl A | 15,909,107 | 7,166,478 | ||||||
Bank of Communications, Cl A | 7,345,899 | 5,456,666 | ||||||
Bank of Ningbo, Cl A | 1,236,878 | 6,606,694 | ||||||
China Merchants Bank, Cl A | 3,860,758 | 24,301,779 | ||||||
China Pacific Insurance Group, Cl A | 1,281,114 | 4,496,377 | ||||||
CITIC Securities, Cl A | 2,280,147 | 7,366,723 | ||||||
East Money Information, Cl A | 2,469,396 | 9,355,724 | ||||||
Industrial & Commercial Bank of China, Cl A | 11,756,326 | 8,364,559 | ||||||
Industrial Bank, Cl A | 3,887,922 | 11,540,474 | ||||||
Ping An Bank, Cl A | 3,626,446 | 8,103,005 | ||||||
Ping An Insurance Group of China, Cl A | 2,027,398 | 14,119,390 | ||||||
Shanghai Pudong Development Bank, Cl A | 5,493,346 | 6,563,304 | ||||||
113,441,173 | ||||||||
Health Care — 9.1% | ||||||||
Aier Eye Hospital Group, Cl A | 1,420,759 | 9,487,691 | ||||||
Chongqing Zhifei Biological Products, Cl A | 421,070 | 6,972,194 | ||||||
Jiangsu Hengrui Medicine, Cl A | 1,676,239 | 9,273,545 | ||||||
Shenzhen Mindray Bio-Medical Electronics, Cl A | 319,894 | 14,944,483 | ||||||
WuXi AppTec, Cl A | 673,782 | 10,451,149 |
7
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Bosera MSCI China A Share ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Zhangzhou Pientzehuang Pharmaceutical, Cl A | 158,650 | $ | 8,441,755 | |||||
59,570,817 | ||||||||
Industrials — 16.0% | ||||||||
China State Construction Engineering, Cl A | 14,113,900 | 11,199,838 | ||||||
Contemporary Amperex Technology, Cl A * | 784,253 | 62,466,976 | ||||||
COSCO SHIPPING Holdings, Cl A | 4,252,930 | 8,817,715 | ||||||
Eve Energy, Cl A | 638,070 | 9,279,530 | ||||||
SF Holding, Cl A | 1,647,059 | 13,711,160 | ||||||
105,475,219 | ||||||||
Information Technology — 13.4% | ||||||||
BOE Technology Group, Cl A | 21,287,745 | 12,510,622 | ||||||
LONGi Green Energy Technology, Cl A | 4,300,758 | 42,743,285 | ||||||
Luxshare Precision Industry, Cl A | 4,013,156 | 20,226,805 | ||||||
Will Semiconductor Shanghai, Cl A | 496,989 | 12,826,886 | ||||||
88,307,598 | ||||||||
Materials — 11.4% | ||||||||
Anhui Conch Cement, Cl A | 2,333,905 | 12,281,878 | ||||||
Wanhua Chemical Group, Cl A | 1,832,036 | 26,504,157 | ||||||
Yunnan Energy New Material, Cl A | 520,769 | 19,454,461 | ||||||
Zijin Mining Group, Cl A | 12,015,905 | 16,722,114 | ||||||
74,962,610 | ||||||||
Real Estate — 1.9% | ||||||||
China Vanke, Cl A | 1,993,699 | 6,096,303 | ||||||
Poly Developments and Holdings Group, Cl A | 2,453,977 | 6,390,984 | ||||||
12,487,287 | ||||||||
Utilities — 2.8% | ||||||||
China Three Gorges Renewables Group, Cl A | 5,048,400 | 4,736,499 | ||||||
China Yangtze Power, Cl A | 4,018,394 | 13,857,771 | ||||||
18,594,270 | ||||||||
TOTAL CHINA | 654,706,671 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $695,308,794) | 654,706,671 | |||||||
TOTAL INVESTMENTS — 99.5% | ||||||||
(Cost $695,308,794) | 654,706,671 | |||||||
OTHER ASSETS LESS LIABILITIES – 0.5% | 3,253,265 | |||||||
NET ASSETS - 100% | $ | 657,959,936 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
Cl — Class
JSC — Joint-Stock Company
8
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Bosera MSCI China A Share ETF
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-003-1700
9
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Bloomberg China Bond Inclusion Index ETF
Face Amount (A) | Value | |||||||
GLOBAL BONDS — 64.5% | ||||||||
China — 64.5% | ||||||||
Agricultural Development Bank of China | ||||||||
3.350%, 03/24/2026 | $ | 930,000 | $ | 141,415 | ||||
3.060%, 08/05/2023 | 3,500,000 | 527,158 | ||||||
China Development Bank | ||||||||
4.040%, 04/10/2027 | 1,650,000 | 258,435 | ||||||
4.040%, 07/06/2028 | 1,650,000 | 259,992 | ||||||
3.430%, 01/14/2027 | 3,450,000 | 525,781 | ||||||
3.300%, 03/03/2026 | 2,360,000 | 358,759 | ||||||
3.090%, 06/18/2030 | 820,000 | 121,892 | ||||||
China Government Bond | ||||||||
4.080%, 10/22/2048 | 1,190,000 | 199,317 | ||||||
4.050%, 07/24/2047 | 930,000 | 154,062 | ||||||
3.530%, 10/18/2051 | 2,700,000 | 417,525 | ||||||
3.390%, 03/16/2050 | 1,560,000 | 232,643 | ||||||
3.290%, 05/23/2029 | 1,600,000 | 246,117 | ||||||
3.020%, 10/22/2025 | 2,500,000 | 378,769 | ||||||
2.910%, 10/14/2028 | 4,000,000 | 599,307 | ||||||
2.840%, 04/08/2024 | 2,600,000 | 391,800 | ||||||
2.800%, 03/24/2029 | 4,100,000 | 610,768 | ||||||
2.750%, 02/17/2032 | 4,000,000 | 591,017 | ||||||
2.680%, 05/21/2030 | 1,800,000 | 264,206 | ||||||
2.470%, 09/02/2024 | 3,800,000 | 568,566 | ||||||
2.370%, 01/20/2027 | 4,000,000 | 589,331 | ||||||
2.280%, 03/17/2024 | 4,000,000 | 596,850 | ||||||
2.260%, 02/24/2025 | 3,000,000 | 445,428 | ||||||
1.990%, 04/09/2025 | 1,710,000 | 251,812 | ||||||
Export-Import Bank of China | ||||||||
3.860%, 05/20/2029 | 1,030,000 | 161,068 | ||||||
3.230%, 03/23/2030 | 1,160,000 | 174,202 | ||||||
3.180%, 03/11/2032 | 1,000,000 | 149,630 | ||||||
2.930%, 03/02/2025 | 1,240,000 | 186,433 | ||||||
9,402,283 | ||||||||
TOTAL GLOBAL BONDS | ||||||||
(Cost $9,797,110) | 9,402,283 | |||||||
CORPORATE OBLIGATIONS — 21.0% | ||||||||
CHINA — 17.9% | ||||||||
Basic Materials — 4.1% | ||||||||
China Baowu Steel Group, MTN | ||||||||
2.370%, 05/22/2023 | 4,000,000 | 596,007 | ||||||
Energy — 4.1% | ||||||||
China National Petroleum, MTN | ||||||||
3.510%, 07/09/2022 | 4,000,000 | 596,866 |
10
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Bloomberg China Bond Inclusion Index ETF
Face Amount (A) | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
Financials — 4.1% | ||||||||
CITIC Securities | ||||||||
3.580%, 07/25/2022 | 4,000,000 | $ | 597,217 | |||||
Utilities — 5.6% | ||||||||
China Southern Power Grid, MTN | ||||||||
3.300%, 01/17/2023 | 1,500,000 | 224,964 | ||||||
State Power Investment, MTN | ||||||||
3.550%, 10/22/2022 | 4,000,000 | 599,282 | ||||||
824,246 | ||||||||
TOTAL CHINA | 2,614,336 | |||||||
SUPRANATIONAL — 3.1% | ||||||||
Government — 3.1% | ||||||||
New Development Bank | ||||||||
2.450%, 01/27/2025 | 3,000,000 | 444,222 | ||||||
TOTAL CORPORATE OBLIGATIONS | ||||||||
(Cost $3,167,259) | 3,058,558 | |||||||
TOTAL INVESTMENTS — 85.5% | ||||||||
(Cost $12,964,369) | 12,460,841 | |||||||
OTHER ASSETS LESS LIABILITIES – 14.5% | 2,117,615 | |||||||
NET ASSETS - 100% | $ | 14,578,456 |
(A) | In CNY unless otherwise indicated. |
MTN — Medium Term Note
As of June 30, 2022, all of the Fund’s investments were considered Level 2 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-004-1600
11
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Index ETF
Shares | Value | |||||||
COMMON STOCK — 99.1% ‡ | ||||||||
China — 98.5% | ||||||||
Communication Services — 10.2% | ||||||||
Autohome ADR | 416 | $ | 16,361 | |||||
Baidu, Cl A * | 5,350 | 101,246 | ||||||
Bilibili, Cl Z * | 1,020 | 26,127 | ||||||
Focus Media Information Technology, Cl A | 10,700 | 10,741 | ||||||
iQIYI ADR * | 824 | 3,461 | ||||||
JOYY ADR | 163 | 4,867 | ||||||
Kingsoft | 11,600 | 45,236 | ||||||
Oriental Pearl Group, Cl A | 14,440 | 15,400 | ||||||
Tencent Holdings | 12,258 | 553,621 | ||||||
Tencent Music Entertainment Group ADR * | 933 | 4,684 | ||||||
Weibo ADR * | 151 | 3,493 | ||||||
785,237 | ||||||||
Consumer Discretionary — 24.8% | ||||||||
Alibaba Group Holding * | 33,324 | 475,211 | ||||||
Alibaba Health Information Technology * | 14,000 | 9,634 | ||||||
ANTA Sports Products | 3,400 | 41,769 | ||||||
Brilliance China Automotive Holdings * (A) | 28,000 | 20,803 | ||||||
BYD, Cl A | 1,700 | 84,564 | ||||||
BYD, Cl H | 2,500 | 100,039 | ||||||
China Grand Automotive Services Group, Cl A * | 5,100 | 1,985 | ||||||
China Tourism Group Duty Free, Cl A | 1,800 | 62,539 | ||||||
Chongqing Changan Automobile, Cl A | 22,438 | 57,968 | ||||||
Dongfeng Motor Group, Cl H | 12,000 | 9,114 | ||||||
Fuyao Glass Industry Group, Cl A | 6,600 | 41,160 | ||||||
Geely Automobile Holdings | 17,000 | 38,649 | ||||||
Great Wall Motor, Cl H | 14,000 | 28,796 | ||||||
Guangzhou Automobile Group, Cl H | 14,000 | 13,542 | ||||||
Haier Smart Home, Cl A | 6,700 | 27,443 | ||||||
Haier Smart Home, Cl H | 9,200 | 34,059 | ||||||
Huayu Automotive Systems, Cl A | 3,700 | 12,694 | ||||||
Huazhu Group ADR * | 626 | 23,851 | ||||||
JD.com, Cl A * | 3,722 | 119,903 | ||||||
Li Auto ADR * | 2,565 | 98,265 | ||||||
Meituan, Cl B * | 8,800 | 217,786 | ||||||
New Oriental Education & Technology Group * | 4,700 | 9,476 | ||||||
NIO ADR * | 3,682 | 79,973 | ||||||
Pinduoduo ADR * | 911 | 56,300 | ||||||
SAIC Motor, Cl A | 5,857 | 15,559 | ||||||
Shenzhen Overseas Chinese Town, Cl A | 22,000 | 21,297 | ||||||
Shenzhou International Group Holdings | 3,000 | 36,339 | ||||||
TAL Education Group ADR * | 903 | 4,398 | ||||||
Trip.com Group ADR * | 1,551 | 42,575 | ||||||
Vipshop Holdings ADR * | 1,478 | 14,617 | ||||||
XPeng ADR, Cl A * | 1,731 | 54,942 |
12
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
Yum China Holdings | 975 | $ | 47,287 | |||||
1,902,537 | ||||||||
Consumer Staples — 10.3% | ||||||||
Anhui Gujing Distillery, Cl A | 1,000 | 37,239 | ||||||
China Mengniu Dairy | 10,000 | 49,892 | ||||||
China Resources Beer Holdings | 4,000 | 29,821 | ||||||
Foshan Haitian Flavouring & Food, Cl A | 3,879 | 52,279 | ||||||
Guangdong Haid Group, Cl A | 4,000 | 35,804 | ||||||
Henan Shuanghui Investment & Development, Cl A | 4,000 | 17,482 | ||||||
Inner Mongolia Yili Industrial Group, Cl A | 6,100 | 35,440 | ||||||
Jiangsu Yanghe Brewery JSC, Cl A | 1,300 | 35,514 | ||||||
Kweichow Moutai, Cl A | 800 | 244,026 | ||||||
Luzhou Laojiao, Cl A | 1,800 | 66,193 | ||||||
Muyuan Foods, Cl A | 6,902 | 56,901 | ||||||
New Hope Liuhe, Cl A * | 10,800 | 24,647 | ||||||
Shanxi Xinghuacun Fen Wine Factory, Cl A | 1,260 | 61,044 | ||||||
Tingyi Cayman Islands Holding | 10,000 | 17,128 | ||||||
Want Want China Holdings | 18,000 | 15,644 | ||||||
Yonghui Superstores, Cl A | 11,800 | 7,533 | ||||||
786,587 | ||||||||
Energy — 2.9% | ||||||||
China Oilfield Services, Cl H | 12,000 | 11,760 | ||||||
China Petroleum & Chemical, Cl A | 37,500 | 22,822 | ||||||
China Petroleum & Chemical, Cl H | 76,500 | 34,414 | ||||||
China Shenhua Energy, Cl H | 9,000 | 25,806 | ||||||
Offshore Oil Engineering, Cl A | 14,300 | 8,852 | ||||||
PetroChina, Cl A | 12,900 | 10,198 | ||||||
PetroChina, Cl H | 57,984 | 27,636 | ||||||
Shaanxi Coal Industry, Cl A | 9,600 | 30,328 | ||||||
Shanxi Lu’an Environmental Energy Development, Cl A | 6,000 | 13,084 | ||||||
Yankuang Energy Group, Cl H | 12,000 | 37,620 | ||||||
222,520 | ||||||||
Financials — 20.7% | ||||||||
Agricultural Bank of China, Cl A | 53,100 | 23,920 | ||||||
Agricultural Bank of China, Cl H | 84,397 | 31,836 | ||||||
AVIC Industry-Finance Holdings, Cl A | 17,300 | 8,928 | ||||||
Bank of Beijing, Cl A | 22,600 | 15,304 | ||||||
Bank of China, Cl A | 27,700 | 13,470 | ||||||
Bank of China, Cl H | 193,396 | 77,142 | ||||||
Bank of Communications, Cl A | 35,200 | 26,147 | ||||||
Bank of Communications, Cl H | 25,000 | 17,268 | ||||||
Bank of Hangzhou, Cl A | 11,500 | 25,696 | ||||||
Bank of Jiangsu, Cl A | 17,900 | 19,010 | ||||||
Bank of Nanjing, Cl A | 11,300 | 17,563 | ||||||
Bank of Ningbo, Cl A | 5,800 | 30,980 | ||||||
Bank of Shanghai, Cl A | 14,904 | 14,561 |
13
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Financials — continued | ||||||||
Changjiang Securities, Cl A | 16,700 | $ | 14,772 | |||||
China Cinda Asset Management, Cl H | 82,504 | 12,932 | ||||||
China CITIC Bank, Cl H | 25,000 | 11,183 | ||||||
China Construction Bank, Cl A | 9,500 | 8,587 | ||||||
China Construction Bank, Cl H | 223,000 | 149,767 | ||||||
China Everbright Bank, Cl A | 44,200 | 19,845 | ||||||
China Galaxy Securities, Cl H | 30,500 | 17,608 | ||||||
China Life Insurance, Cl H | 18,483 | 32,175 | ||||||
China Merchants Bank, Cl A | 14,500 | 91,271 | ||||||
China Merchants Bank, Cl H | 11,000 | 73,595 | ||||||
China Merchants Securities, Cl A | 7,800 | 16,765 | ||||||
China Minsheng Banking, Cl A | 40,800 | 22,639 | ||||||
China Minsheng Banking, Cl H | 23,500 | 8,385 | ||||||
China Pacific Insurance Group, Cl A | 4,300 | 15,092 | ||||||
China Pacific Insurance Group, Cl H | 8,600 | 21,021 | ||||||
China Taiping Insurance Holdings | 5,000 | 6,168 | ||||||
CITIC Securities, Cl A | 12,845 | 41,500 | ||||||
CITIC Securities, Cl H | 8,100 | 18,106 | ||||||
Everbright Securities, Cl A | 8,400 | 19,746 | ||||||
Far East Horizon | 11,000 | 9,224 | ||||||
Founder Securities, Cl A | 13,600 | 13,612 | ||||||
GF Securities, Cl A | 8,000 | 22,314 | ||||||
GF Securities, Cl H | 12,000 | 15,874 | ||||||
Guosen Securities, Cl A | 8,800 | 12,562 | ||||||
Guotai Junan Securities, Cl A | 6,600 | 14,964 | ||||||
Haitong Securities, Cl A | 10,200 | 14,925 | ||||||
Huatai Securities, Cl A | 9,700 | 20,545 | ||||||
Huatai Securities, Cl H | 7,400 | 10,977 | ||||||
Huaxia Bank, Cl A | 14,900 | 11,579 | ||||||
Industrial & Commercial Bank of China, Cl A | 54,100 | 38,492 | ||||||
Industrial & Commercial Bank of China, Cl H | 172,441 | 102,406 | ||||||
Industrial Bank, Cl A | 16,300 | 48,383 | ||||||
Industrial Securities, Cl A * | 22,169 | 23,312 | ||||||
New China Life Insurance, Cl A | 1,800 | 8,643 | ||||||
New China Life Insurance, Cl H | 2,900 | 8,149 | ||||||
Orient Securities, Cl A | 11,400 | 17,361 | ||||||
People’s Insurance Group of China, Cl H | 24,452 | 7,479 | ||||||
PICC Property & Casualty, Cl H | 21,510 | 22,368 | ||||||
Ping An Bank, Cl A | 15,991 | 35,731 | ||||||
Ping An Insurance Group of China, Cl A | 8,200 | 57,107 | ||||||
Ping An Insurance Group of China, Cl H | 15,000 | 101,982 | ||||||
Shanghai Pudong Development Bank, Cl A | 23,200 | 27,719 | ||||||
Shenwan Hongyuan Group, Cl A | 26,300 | 16,829 | ||||||
1,585,519 | ||||||||
Health Care — 6.0% | ||||||||
3SBio | 6,000 | 4,771 | ||||||
BeiGene ADR * | 172 | 27,838 |
14
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Beijing Tongrentang, Cl A | 1,544 | $ | 12,178 | |||||
Changchun High & New Technology Industry Group, Cl A | 1,000 | 34,817 | ||||||
China Medical System Holdings | 7,000 | 10,919 | ||||||
China Traditional Chinese Medicine Holdings | 14,000 | 8,653 | ||||||
CSPC Pharmaceutical Group | 33,520 | 33,277 | ||||||
Dong-E-E-Jiao, Cl A | 2,400 | 13,228 | ||||||
Genscript Biotech * | 10,000 | 36,256 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings, Cl A | 1,900 | 8,953 | ||||||
Huadong Medicine, Cl A | 2,280 | 15,358 | ||||||
Hualan Biological Engineering, Cl A | 4,880 | 16,596 | ||||||
Hutchmed China ADR * | 810 | 10,238 | ||||||
Jiangsu Hengrui Medicine, Cl A | 4,616 | 25,537 | ||||||
Meinian Onehealth Healthcare Holdings, Cl A * | 5,060 | 4,204 | ||||||
Shanghai Fosun Pharmaceutical Group, Cl A | 3,100 | 20,387 | ||||||
Shanghai Fosun Pharmaceutical Group, Cl H | 2,500 | 9,255 | ||||||
Shanghai Pharmaceuticals Holding, Cl A | 6,000 | 16,181 | ||||||
Sichuan Kelun Pharmaceutical, Cl A | 1,100 | 3,068 | ||||||
Sinopharm Group, Cl H | 4,800 | 11,635 | ||||||
Tasly Pharmaceutical Group, Cl A | 1,500 | 2,352 | ||||||
Tonghua Dongbao Pharmaceutical, Cl A | 9,800 | 15,115 | ||||||
Wuxi Biologics Cayman * | 5,500 | 50,325 | ||||||
Yunnan Baiyao Group, Cl A | 1,540 | 13,872 | ||||||
Zai Lab ADR * | 161 | 5,584 | ||||||
Zhangzhou Pientzehuang Pharmaceutical, Cl A | 500 | 26,605 | ||||||
Zhejiang NHU, Cl A | 5,632 | 19,162 | ||||||
456,364 | ||||||||
Industrials — 6.4% | ||||||||
AECC Aviation Power, Cl A | 3,100 | 21,044 | ||||||
AVIC Electromechanical Systems, Cl A | 5,200 | 9,579 | ||||||
Beijing Capital International Airport, Cl H * | 10,000 | 6,818 | ||||||
China Conch Venture Holdings | 6,000 | 13,075 | ||||||
China Eastern Airlines, Cl A * | 19,700 | 16,132 | ||||||
China Energy Engineering | 64,237 | 22,708 | ||||||
China Everbright Environment Group | 12,323 | 7,271 | ||||||
China Merchants Port Holdings | 11,852 | 20,149 | ||||||
China Railway Group, Cl H | 18,000 | 11,125 | ||||||
China Southern Airlines, Cl A * | 18,600 | 20,281 | ||||||
CITIC | 9,780 | 9,908 | ||||||
COSCO SHIPPING Holdings, Cl A | 19,620 | 40,679 | ||||||
Daqin Railway, Cl A | 12,400 | 12,189 | ||||||
Fosun International | 9,000 | 8,315 | ||||||
Guangzhou Baiyun International Airport, Cl A * | 13,000 | 28,912 | ||||||
Jiangsu Expressway, Cl H | 12,000 | 12,081 | ||||||
Metallurgical Corp of China, Cl A | 32,600 | 17,019 | ||||||
Power Construction Corp of China, Cl A | 14,900 | 17,491 | ||||||
Sany Heavy Industry, Cl A | 10,800 | 30,704 | ||||||
Shanghai International Airport, Cl A * | 1,200 | 10,149 |
15
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Shanghai International Port Group, Cl A | 10,000 | $ | 8,696 | |||||
Shenzhen International Holdings | 11,923 | 11,730 | ||||||
Weichai Power, Cl A | 13,688 | 25,460 | ||||||
Xinjiang Goldwind Science & Technology, Cl A | 8,449 | 18,652 | ||||||
Yutong Bus, Cl A | 12,644 | 16,314 | ||||||
Zhejiang Chint Electrics, Cl A | 3,000 | 16,011 | ||||||
Zhuzhou CRRC Times Electric, Cl H | 2,400 | 11,836 | ||||||
Zoomlion Heavy Industry Science and Technology, Cl A | 12,900 | 11,853 | ||||||
ZTO Express Cayman ADR * | 1,135 | 31,156 | ||||||
487,337 | ||||||||
Information Technology — 5.8% | ||||||||
AAC Technologies Holdings | 3,000 | 6,905 | ||||||
Aisino, Cl A | 1,600 | 2,611 | ||||||
BOE Technology Group, Cl A | 38,300 | 22,509 | ||||||
DHC Software, Cl A | 7,100 | 6,693 | ||||||
GDS Holdings, Cl A * | 1,600 | 6,739 | ||||||
Hanergy Thin Film Power Group * (A) | 4,364 | — | ||||||
Hengtong Optic-electric, Cl A | 2,600 | 5,639 | ||||||
Iflytek, Cl A | 2,500 | 15,371 | ||||||
Kingboard Holdings | 3,500 | 13,247 | ||||||
Kingdee International Software Group * | 12,000 | 28,138 | ||||||
Lenovo Group | 24,000 | 22,419 | ||||||
LONGi Green Energy Technology, Cl A | 7,829 | 77,807 | ||||||
Luxshare Precision Industry, Cl A | 9,474 | 47,750 | ||||||
NavInfo, Cl A | 5,400 | 12,138 | ||||||
OFILM Group, Cl A * | 4,582 | 4,586 | ||||||
Sanan Optoelectronics, Cl A | 11,000 | 40,330 | ||||||
Sunny Optical Technology Group | 2,300 | 37,488 | ||||||
Tianma Microelectronics, Cl A | 5,200 | 7,733 | ||||||
TravelSky Technology, Cl H | 5,000 | 9,711 | ||||||
Unigroup Guoxin Microelectronics, Cl A | 1,300 | 36,788 | ||||||
Yonyou Network Technology, Cl A | 4,325 | 14,006 | ||||||
Zhejiang Dahua Technology, Cl A | 4,200 | 10,287 | ||||||
ZTE, Cl H | 6,000 | 13,977 | ||||||
442,872 | ||||||||
Materials — 4.5% | ||||||||
Anhui Conch Cement, Cl A | 3,000 | 15,787 | ||||||
Anhui Conch Cement, Cl H | 3,000 | 12,999 | ||||||
Baoshan Iron & Steel, Cl A | 22,900 | 20,563 | ||||||
BBMG, Cl A | 21,800 | 9,007 | ||||||
China National Building Material, Cl H | 14,000 | 14,951 | ||||||
China Northern Rare Earth Group High-Tech, Cl A | 8,500 | 44,578 | ||||||
China Resources Cement Holdings | 12,000 | 8,059 | ||||||
CMOC Group, Cl H | 42,000 | 23,444 | ||||||
Ganfeng Lithium, Cl A | 1,800 | 39,924 | ||||||
Hesteel, Cl A | 24,800 | 8,360 | ||||||
Inner Mongolia BaoTou Steel Union, Cl A | 51,300 | 17,982 |
16
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — continued | ||||||||
Rongsheng Petrochemical, Cl A | 9,950 | $ | 22,841 | |||||
Shandong Hualu Hengsheng Chemical, Cl A | 4,440 | 19,338 | ||||||
Sinopec Shanghai Petrochemical, Cl A | 26,300 | 12,475 | ||||||
Tianqi Lithium, Cl A * | 1,140 | 21,221 | ||||||
Zhejiang Huayou Cobalt, Cl A | 1,404 | 20,025 | ||||||
Zhejiang Longsheng Group, Cl A | 9,000 | 13,666 | ||||||
Zijin Mining Group, Cl A | 14,300 | 19,901 | ||||||
345,121 | ||||||||
Real Estate — 4.1% | ||||||||
China Evergrande Group * (A) | 13,000 | 2,700 | ||||||
China Jinmao Holdings Group | 24,000 | 6,453 | ||||||
China Merchants Shekou Industrial Zone Holdings, Cl A | 7,200 | 14,423 | ||||||
China Overseas Land & Investment | 14,339 | 45,318 | ||||||
China Resources Land | 10,214 | 47,640 | ||||||
China Vanke, Cl A | 7,143 | 21,842 | ||||||
China Vanke, Cl H | 3,300 | 8,293 | ||||||
CIFI Holdings Group | 26,203 | 13,157 | ||||||
Country Garden Holdings | 28,612 | 17,721 | ||||||
Gemdale, Cl A | 8,400 | 16,840 | ||||||
Greenland Holdings, Cl A * | 14,460 | 8,541 | ||||||
Longfor Group Holdings | 6,000 | 28,329 | ||||||
Poly Developments and Holdings Group, Cl A | 10,300 | 26,825 | ||||||
Seazen Holdings, Cl A * | 5,200 | 19,724 | ||||||
Shimao Group Holdings (A) | 17,500 | 9,590 | ||||||
Sunac China Holdings * (A) | 13,000 | 7,389 | ||||||
Xinhu Zhongbao, Cl A * | 54,700 | 22,519 | ||||||
317,304 | ||||||||
Utilities — 2.8% | ||||||||
Beijing Enterprises Water Group | 24,000 | 7,249 | ||||||
China Gas Holdings | 9,000 | 13,901 | ||||||
China Longyuan Power Group, Cl H | 12,000 | 23,183 | ||||||
China Resources Gas Group | 6,000 | 27,947 | ||||||
China Resources Power Holdings | 10,000 | 20,645 | ||||||
ENN Energy Holdings | 1,882 | 30,915 | ||||||
Guangdong Investment | 12,000 | 12,693 | ||||||
Huadian Power International, Cl A | 40,800 | 23,917 | ||||||
Huaneng Power International, Cl H * | 33,077 | 16,482 | ||||||
SDIC Power Holdings, Cl A | 10,800 | 16,915 | ||||||
Sichuan Chuantou Energy, Cl A | 10,900 | 19,380 | ||||||
213,227 | ||||||||
TOTAL CHINA | 7,544,625 | |||||||
Hong Kong — 0.6% | ||||||||
Communication Services — 0.2% | ||||||||
Alibaba Pictures Group * | 120,000 | 11,775 |
17
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — 0.2% | ||||||||
Sino Biopharmaceutical | 28,500 | $ | 18,051 | |||||
Materials — 0.2% | ||||||||
Nine Dragons Paper Holdings | 19,000 | 16,078 | ||||||
TOTAL HONG KONG | 45,904 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $9,484,711) | 7,590,529 | |||||||
TOTAL INVESTMENTS — 99.1% | ||||||||
(Cost $9,484,711) | 7,590,529 | |||||||
OTHER ASSETS LESS LIABILITIES – 0.9% | 69,482 | |||||||
NET ASSETS - 100% | $ | 7,660,011 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
(A) | Level 3 security in accordance with fair value hierarchy. |
ADR — American Depositary Receipt
Cl — Class
JSC — Joint-Stock Company
The following summarizes the market value of the Fund’s investments used as of June 30, 2022, based on the inputs used to value them:
Investments in Securities | Level 1 | Level 2 | Level 3^ | Total | ||||||||||||
Common Stock | ||||||||||||||||
China | ||||||||||||||||
Communication Services | $ | 785,237 | $ | — | $ | — | $ | 785,237 | ||||||||
Consumer Discretionary | 1,879,749 | 1,985 | 20,803 | 1,902,537 | ||||||||||||
Consumer Staples | 786,587 | — | — | 786,587 | ||||||||||||
Energy | 222,520 | — | — | 222,520 | ||||||||||||
Financials | 1,585,519 | — | — | 1,585,519 | ||||||||||||
Health Care | 454,012 | 2,352 | — | 456,364 | ||||||||||||
Industrials | 487,337 | — | — | 487,337 | ||||||||||||
Information Technology | 442,872 | — | — | ‡‡ | 442,872 | |||||||||||
Materials | 345,121 | — | — | 345,121 | ||||||||||||
Real Estate | 297,625 | — | 19,679 | 317,304 | ||||||||||||
Utilities | 213,227 | — | — | 213,227 | ||||||||||||
Hong Kong | 45,904 | — | — | 45,904 | ||||||||||||
Total Common Stock | 7,545,710 | 4,337 | 40,482 | 7,590,529 | ||||||||||||
Total Investments in Securities | $ | 7,545,710 | $ | 4,337 | $ | 40,482 | $ | 7,590,529 |
^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |
‡‡ | Security or securities with a market value of $0. |
18
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Index ETF
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-011-0900
19
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI One Belt One Road Index ETF
Shares | Value | |||||||
COMMON STOCK — 88.5% ‡ | ||||||||
China — 40.8% | ||||||||
Energy — 0.4% | ||||||||
Guanghui Energy, Cl A | 13,500 | $ | 21,224 | |||||
Financials — 3.3% | ||||||||
Bank of Changsha, Cl A | 8,300 | 9,818 | ||||||
Bank of Chengdu, Cl A | 7,400 | 18,301 | ||||||
Bank of Guiyang, Cl A | 7,527 | 6,523 | ||||||
Bank of Hangzhou, Cl A | 12,200 | 27,260 | ||||||
Bank of Jiangsu, Cl A | 30,255 | 32,131 | ||||||
Bank of Nanjing, Cl A | 20,691 | 32,159 | ||||||
Bank of Ningbo, Cl A | 13,646 | 72,889 | ||||||
Chongqing Rural Commercial Bank, Cl A | 18,300 | 10,100 | ||||||
209,181 | ||||||||
Industrials — 21.7% | ||||||||
Beijing New Building Materials, Cl A | 3,408 | 17,599 | ||||||
Beijing-Shanghai High Speed Railway, Cl A | 85,100 | 63,722 | ||||||
China Communications Services, Cl H | 22,000 | 9,673 | ||||||
China Conch Venture Holdings | 14,000 | 30,509 | ||||||
China Energy Engineering | 68,000 | 24,039 | ||||||
China Lesso Group Holdings | 9,000 | 13,580 | ||||||
China Railway Group, Cl H | 36,500 | 22,560 | ||||||
China State Construction Engineering, Cl A | 86,500 | 68,641 | ||||||
Contemporary Amperex Technology, Cl A * | 4,400 | 350,467 | ||||||
CRRC, Cl H | 38,000 | 14,141 | ||||||
Daqin Railway, Cl A | 30,532 | 30,012 | ||||||
Dongfang Electric, Cl A | 5,700 | 13,986 | ||||||
Gotion High-tech, Cl A | 3,300 | 22,446 | ||||||
Guangdong Kinlong Hardware Products, Cl A | 600 | 11,609 | ||||||
Jiangsu Expressway, Cl H | 12,000 | 12,081 | ||||||
Jiangsu Hengli Hydraulic, Cl A | 2,600 | 23,936 | ||||||
Jiangxi Special Electric Motor, Cl A * | 3,600 | 13,446 | ||||||
Liaoning Port, Cl A | 32,300 | 8,190 | ||||||
Luoyang Xinqianglian Slewing Bearing, Cl A | 550 | 7,304 | ||||||
Metallurgical Corp of China, Cl A | 37,000 | 19,316 | ||||||
Ming Yang Smart Energy Group, Cl A | 4,300 | 21,679 | ||||||
NARI Technology, Cl A | 13,780 | 55,497 | ||||||
Ningbo Deye Technology, Cl A | 400 | 16,699 | ||||||
Ningbo Orient Wires & Cables, Cl A | 1,400 | 15,996 | ||||||
Ningbo Ronbay New Energy Technology, Cl A | 916 | 17,685 | ||||||
North Industries Group Red Arrow, Cl A | 2,800 | 12,174 | ||||||
Power Construction Corp of China, Cl A | 32,000 | 37,565 | ||||||
Riyue Heavy Industry, Cl A | 2,000 | 7,577 | ||||||
Sany Heavy Equipment International Holdings | 9,000 | 9,565 | ||||||
Sany Heavy Industry, Cl A | 17,600 | 50,037 | ||||||
Shanghai Construction Group, Cl A | 18,700 | 8,451 | ||||||
Shanghai Electric Group, Cl A * | 26,300 | 16,123 | ||||||
Shanghai International Port Group, Cl A | 18,810 | 16,357 |
20
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI One Belt One Road Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
Shenzhen Inovance Technology, Cl A | 5,250 | $ | 51,582 | |||||
Shenzhen International Holdings | 11,993 | 11,799 | ||||||
Sichuan Road & Bridge, Cl A | 9,900 | 15,550 | ||||||
Sieyuan Electric, Cl A | 1,600 | 8,510 | ||||||
Sinotruk Hong Kong | 6,000 | 8,411 | ||||||
Suzhou Maxwell Technologies, Cl A | 340 | 24,896 | ||||||
TBEA, Cl A | 7,575 | 30,948 | ||||||
Titan Wind Energy Suzhou, Cl A | 3,700 | 9,101 | ||||||
Wuxi Lead Intelligent Equipment, Cl A | 1,600 | 15,078 | ||||||
Wuxi Shangji Automation, Cl A | 700 | 16,287 | ||||||
XCMG Construction Machinery, Cl A * | 16,148 | 12,982 | ||||||
Xinjiang Goldwind Science & Technology, Cl H | 6,600 | 12,347 | ||||||
Yangzijiang Shipbuilding Holdings | 34,200 | 22,854 | ||||||
Zhefu Holding Group, Cl A | 11,100 | 7,931 | ||||||
Zhejiang Expressway, Cl H | 14,000 | 12,917 | ||||||
Zhejiang Weixing New Building Materials, Cl A | 3,300 | 11,833 | ||||||
Zhuzhou CRRC Times Electric, Cl H | 4,800 | 23,673 | ||||||
Zhuzhou Kibing Group, Cl A | 5,500 | 10,460 | ||||||
Zoomlion Heavy Industry Science and Technology, Cl H | 12,200 | 6,514 | ||||||
1,376,335 | ||||||||
Materials — 3.5% | ||||||||
Anhui Conch Cement, Cl H | 10,500 | 45,495 | ||||||
Chengtun Mining Group, Cl A | 5,700 | 6,598 | ||||||
China Minmetals Rare Earth, Cl A * | 2,000 | 9,322 | ||||||
China National Building Material, Cl H | 35,000 | 37,378 | ||||||
China Northern Rare Earth Group High-Tech, Cl A | 6,324 | 33,166 | ||||||
China Resources Cement Holdings | 22,000 | 14,775 | ||||||
Henan Shenhuo Coal & Power, Cl A | 4,600 | 8,975 | ||||||
Huaxin Cement, Cl A | 2,800 | 8,148 | ||||||
Shenghe Resources Holding, Cl A | 3,600 | 12,136 | ||||||
Tangshan Jidong Cement, Cl A | 5,400 | 8,473 | ||||||
Xiamen Tungsten, Cl A | 2,900 | 9,352 | ||||||
Yintai Gold, Cl A | 5,900 | 8,572 | ||||||
Youngy, Cl A * | 500 | 11,463 | ||||||
Yunnan Tin, Cl A | 3,400 | 8,505 | ||||||
222,358 | ||||||||
Utilities — 11.9% | ||||||||
Beijing Enterprises Holdings | 4,500 | 16,000 | ||||||
CECEP Solar Energy, Cl A * | 6,200 | 7,722 | ||||||
CECEP Wind-Power, Cl A | 10,400 | 7,446 | ||||||
CGN Power, Cl H | 95,000 | 23,003 | ||||||
China Gas Holdings | 26,000 | 40,158 | ||||||
China Longyuan Power Group, Cl H | 28,000 | 54,095 | ||||||
China National Nuclear Power, Cl A | 37,300 | 38,167 | ||||||
China Power International Development | 45,000 | 28,559 |
21
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI One Belt One Road Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Utilities — continued | ||||||||
China Resources Gas Group | 7,500 | $ | 34,934 | |||||
China Resources Power Holdings | 16,635 | 34,343 | ||||||
China Three Gorges Renewables Group, Cl A | 58,000 | 54,417 | ||||||
China Yangtze Power, Cl A | 45,200 | 155,876 | ||||||
ENN Energy Holdings | 6,700 | 110,059 | ||||||
ENN Natural Gas, Cl A | 4,900 | 13,587 | ||||||
GD Power Development, Cl A * | 37,100 | 21,637 | ||||||
Huadian Power International, Cl A | 17,042 | 9,990 | ||||||
Huaneng Power International, Cl H * | 33,000 | 16,443 | ||||||
Kunlun Energy | 32,000 | 26,221 | ||||||
SDIC Power Holdings, Cl A | 15,506 | 24,285 | ||||||
Shenergy, Cl A | 15,019 | 12,725 | ||||||
Shenzhen Energy Group, Cl A | 9,900 | 9,466 | ||||||
Sichuan Chuantou Energy, Cl A | 7,584 | 13,484 | ||||||
752,617 | ||||||||
TOTAL CHINA | 2,581,715 | |||||||
Hong Kong — 0.3% | ||||||||
Industrials — 0.3% | ||||||||
Hutchison Port Holdings Trust, Cl U | 69,300 | 16,285 | ||||||
TOTAL HONG KONG | 16,285 | |||||||
India — 1.8% | ||||||||
Industrials — 0.4% | ||||||||
AIA Engineering | 924 | 26,019 | ||||||
Materials — 1.4% | ||||||||
Clean Science & Technology | 449 | 8,472 | ||||||
National Aluminium | 17,391 | 15,151 | ||||||
PI Industries | 1,599 | 51,823 | ||||||
Vinati Organics | 545 | 13,684 | ||||||
89,130 | ||||||||
TOTAL INDIA | 115,149 | |||||||
Indonesia — 2.3% | ||||||||
Energy — 1.5% | ||||||||
Adaro Energy Indonesia | 381,300 | 73,202 | ||||||
Indo Tambangraya Megah | 10,500 | 21,620 | ||||||
94,822 | ||||||||
Materials — 0.8% | ||||||||
Indah Kiat Pulp & Paper | 71,800 | 36,629 |
22
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI One Belt One Road Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — continued | ||||||||
Pabrik Kertas Tjiwi Kimia | 36,900 | $ | 15,976 | |||||
52,605 | ||||||||
TOTAL INDONESIA | 147,427 | |||||||
Israel — 7.5% | ||||||||
Industrials — 4.1% | ||||||||
Elbit Systems | 699 | 159,114 | ||||||
ZIM Integrated Shipping Services | 2,173 | 102,631 | ||||||
261,745 | ||||||||
Materials — 3.4% | ||||||||
ICL Group | 18,516 | 167,547 | ||||||
Israel * | 100 | 43,830 | ||||||
211,377 | ||||||||
TOTAL ISRAEL | 473,122 | |||||||
Jordan — 0.2% | ||||||||
Financials — 0.2% | ||||||||
Arab Bank | 2,088 | 14,283 | ||||||
TOTAL JORDAN | 14,283 | |||||||
Kazakhstan — 0.7% | ||||||||
Energy — 0.7% | ||||||||
NAC Kazatomprom JSC GDR | 1,698 | 43,974 | ||||||
TOTAL KAZAKHSTAN | 43,974 | |||||||
Kuwait — 4.9% | ||||||||
Financials — 4.9% | ||||||||
Kuwait Finance House | 106,882 | 303,337 | ||||||
Kuwait Projects Holding | 19,929 | 9,545 | ||||||
TOTAL KUWAIT | 312,882 | |||||||
Malaysia — 3.6% | ||||||||
Industrials — 0.6% | ||||||||
Pentamaster | 10,000 | 8,372 | ||||||
Sime Darby | 56,300 | 27,208 | ||||||
35,580 | ||||||||
Materials — 3.0% | ||||||||
Petronas Chemicals Group | 51,100 | 104,345 |
23
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI One Belt One Road Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — continued | ||||||||
Press Metal Aluminium Holdings | 79,100 | $ | 85,426 | |||||
189,771 | ||||||||
TOTAL MALAYSIA | 225,351 | |||||||
Philippines — 3.2% | ||||||||
Industrials — 3.2% | ||||||||
Aboitiz Equity Ventures | 44,610 | 38,578 | ||||||
International Container Terminal Services | 26,820 | 89,750 | ||||||
JG Summit | 79,862 | 70,733 | ||||||
TOTAL PHILIPPINES | 199,061 | |||||||
Poland — 1.5% | ||||||||
Materials — 1.5% | ||||||||
KGHM Polska Miedz | 3,667 | 96,980 | ||||||
TOTAL POLAND | 96,980 | |||||||
Russia — –% | ||||||||
Energy — 0.0% | ||||||||
Rosneft Oil PJSC (A) | 33,666 | — | ||||||
Sovcomflot PJSC * (A) | 9,110 | — | ||||||
Surgutneftegas * (A) | 143,400 | — | ||||||
— | ||||||||
Materials — 0.0% | ||||||||
MMC Norilsk Nickel PJSC (A) | 1,239 | — | ||||||
Polymetal International (A) | 7,154 | — | ||||||
Segezha Group PJSC (A) | 78,500 | — | ||||||
— | ||||||||
TOTAL RUSSIA | — | |||||||
Singapore — 9.1% | ||||||||
Financials — 5.7% | ||||||||
Oversea-Chinese Banking | 44,112 | 361,023 | ||||||
Industrials — 3.4% | ||||||||
Keppel | 19,100 | 89,070 | ||||||
Singapore Airlines * | 17,600 | 64,497 | ||||||
Singapore Technologies Engineering | 20,300 | 59,513 | ||||||
213,080 | ||||||||
TOTAL SINGAPORE | 574,103 | |||||||
South Africa — 6.8% | ||||||||
Financials — 0.2% | ||||||||
Ninety One | 5,074 | 11,937 |
24
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI One Belt One Road Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — 6.6% | ||||||||
Anglo American Platinum | 1,396 | $ | 121,428 | |||||
Impala Platinum Holdings | 22,187 | 245,320 | ||||||
Kumba Iron Ore | 1,700 | 54,546 | ||||||
421,294 | ||||||||
TOTAL SOUTH AFRICA | 433,231 | |||||||
Thailand — 4.8% | ||||||||
Energy — 3.9% | ||||||||
PTT | 259,100 | 249,170 | ||||||
Materials — 0.9% | ||||||||
Indorama Ventures | 41,900 | 55,701 | ||||||
TOTAL THAILAND | 304,871 | |||||||
Turkey — 0.6% | ||||||||
Industrials — 0.6% | ||||||||
Turk Hava Yollari AO * | 14,456 | 40,520 | ||||||
TOTAL TURKEY | 40,520 | |||||||
United Arab Emirates — 0.4% | ||||||||
Industrials — 0.4% | ||||||||
Air Arabia PJSC | 48,174 | 27,280 | ||||||
TOTAL UNITED ARAB EMIRATES | 27,280 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $6,206,495) | 5,606,234 | |||||||
PREFERRED STOCK — 0.0% | ||||||||
RUSSIA— 0.0% | ||||||||
Energy — 0.0% | ||||||||
Surgutneftegas PJSC (A)(B) | 136,600 | — | ||||||
TOTAL PREFERRED STOCK | ||||||||
(Cost $74,846) | — | |||||||
TOTAL INVESTMENTS — 88.5% | ||||||||
(Cost $6,281,341) | 5,606,234 | |||||||
OTHER ASSETS LESS LIABILITIES – 11.5% | 730,754 | |||||||
NET ASSETS - 100% | $ | 6,336,988 |
25
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI One Belt One Road Index ETF
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
(A) | Level 3 security in accordance with fair value hierarchy. |
(B) | Currently, no stated interest rate. |
Cl — Class |
GDR — Global Depositary Receipt |
JSC — Joint-Stock Company |
PJSC — Public Joint-Stock Company |
The following summarizes the market value of the Fund’s investments used as of June 30, 2022, based on the inputs used to value them:
Investments in Securities | Level 1 | Level 2 | Level 3^ | Total | ||||||||||||
Common Stock | ||||||||||||||||
China | ||||||||||||||||
Energy | $ | 21,224 | $ | — | $ | — | $ | 21,224 | ||||||||
Financials | 203,853 | 5,328 | — | 209,181 | ||||||||||||
Industrials | 1,368,145 | 8,190 | — | 1,376,335 | ||||||||||||
Materials | 210,222 | 12,136 | — | 222,358 | ||||||||||||
Utilities | 752,617 | — | — | 752,617 | ||||||||||||
Hong Kong | 16,285 | — | — | 16,285 | ||||||||||||
India | 115,149 | — | — | 115,149 | ||||||||||||
Indonesia | 147,427 | — | — | 147,427 | ||||||||||||
Israel | 473,122 | — | — | 473,122 | ||||||||||||
Jordan | 14,283 | — | — | 14,283 | ||||||||||||
Kazakhstan | 43,974 | — | — | 43,974 | ||||||||||||
Kuwait | 312,882 | — | — | 312,882 | ||||||||||||
Malaysia | 225,351 | — | — | 225,351 | ||||||||||||
Philippines | 199,061 | — | — | 199,061 | ||||||||||||
Poland | 96,980 | — | — | 96,980 | ||||||||||||
Russia | ||||||||||||||||
Energy | — | — | — | ‡‡ | — | |||||||||||
Materials | — | — | — | ‡‡ | — | |||||||||||
Singapore | 574,103 | — | — | 574,103 | ||||||||||||
South Africa | 433,231 | — | — | 433,231 | ||||||||||||
Thailand | 304,871 | — | — | 304,871 | ||||||||||||
Turkey | 40,520 | — | — | 40,520 | ||||||||||||
United Arab Emirates | 27,280 | — | — | 27,280 | ||||||||||||
Total Common Stock | 5,580,580 | 25,654 | — | 5,606,234 | ||||||||||||
Preferred Stock | ||||||||||||||||
Russia | ||||||||||||||||
Energy | — | — | — | ‡‡ | — | |||||||||||
Total Preferred Stock | — | — | — | — | ||||||||||||
Total Investments in Securities | $ | 5,580,580 | $ | 25,654 | $ | — | $ | 5,606,234 |
26
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI One Belt One Road Index ETF
^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |
‡‡ | Security or securities with a market value of $0. |
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-006-1000
27
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Emerging Markets Consumer Technology Index ETF
Shares | Value | |||||||
COMMON STOCK — 99.8% ‡ | ||||||||
Brazil — 7.3% | ||||||||
Consumer Discretionary — 4.2% | ||||||||
Americanas * | 97,370 | $ | 250,061 | |||||
GRUPO DE MODA SOMA | 156,700 | 275,677 | ||||||
MercadoLibre * | 1,944 | 1,238,075 | ||||||
1,763,813 | ||||||||
Financials — 2.1% | ||||||||
XP, Cl A * | 47,871 | 859,763 | ||||||
Information Technology — 1.0% | ||||||||
Pagseguro Digital, Cl A * | 20,139 | 206,223 | ||||||
StoneCo, Cl A * | 28,128 | 216,586 | ||||||
422,809 | ||||||||
TOTAL BRAZIL | 3,046,385 | |||||||
China — 45.0% | ||||||||
Communication Services — 16.2% | ||||||||
Baidu, Cl A * | 63,114 | 1,194,404 | ||||||
Bilibili, Cl Z * | 44,320 | 1,135,259 | ||||||
JOYY ADR | 9,340 | 278,892 | ||||||
Kuaishou Technology, Cl B * | 106,200 | 1,182,865 | ||||||
NetEase | 78,600 | 1,443,397 | ||||||
Tencent Holdings | 34,375 | 1,552,514 | ||||||
6,787,331 | ||||||||
Consumer Discretionary — 26.3% | ||||||||
Alibaba Group Holding * | 128,400 | 1,831,025 | ||||||
Alibaba Health Information Technology * | 2,106,000 | 1,449,276 | ||||||
JD Health International * | 175,100 | 1,373,451 | ||||||
JD.com, Cl A * | 53,225 | 1,714,715 | ||||||
Meituan, Cl B * | 63,800 | 1,578,952 | ||||||
Pinduoduo ADR * | 27,362 | 1,690,972 | ||||||
Trip.com Group * | 50,500 | 1,426,134 | ||||||
11,064,525 |
28
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Emerging Markets Consumer Technology Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Financials — 2.5% | ||||||||
Lufax Holding ADR | 177,827 | $ | 1,066,962 | |||||
TOTAL CHINA | 18,918,818 | |||||||
Egypt — 0.7% | ||||||||
Information Technology — 0.7% | ||||||||
Fawry for Banking & Payment Technology Services * | 1,574,267 | 297,268 | ||||||
TOTAL EGYPT | 297,268 | |||||||
Greece — 0.8% | ||||||||
Consumer Discretionary — 0.8% | ||||||||
OPAP | 22,795 | 325,292 | ||||||
TOTAL GREECE | 325,292 | |||||||
India — 5.7% | ||||||||
Communication Services — 2.8% | ||||||||
Info Edge India | 24,539 | 1,167,966 | ||||||
Consumer Discretionary — 2.9% | ||||||||
MakeMyTrip * | 12,112 | 311,036 | ||||||
Zomato * | 1,360,116 | 927,440 | ||||||
1,238,476 | ||||||||
TOTAL INDIA | 2,406,442 | |||||||
Indonesia — 0.8% | ||||||||
Consumer Discretionary — 0.8% | ||||||||
Bukalapak.com * | 17,734,300 | 335,699 | ||||||
TOTAL INDONESIA | 335,699 | |||||||
Japan — 2.3% | ||||||||
Communication Services — 2.3% | ||||||||
Nexon | 47,900 | 979,472 | ||||||
TOTAL JAPAN | 979,472 | |||||||
Malaysia — 0.8% | ||||||||
Information Technology — 0.8% | ||||||||
My EG Services | 1,644,700 | 328,380 | ||||||
TOTAL MALAYSIA | 328,380 | |||||||
Russia — 0.0% | ||||||||
Communication Services — 0.0% | ||||||||
VK GDR * (A) | 49,503 | — | ||||||
Yandex, Cl A * (A) | 31,479 | — | ||||||
— |
29
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Emerging Markets Consumer Technology Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — 0.0% | ||||||||
Ozon Holdings PLC ADR * (A) | 58,005 | $ | — | |||||
Industrials — 0.0% | ||||||||
HeadHunter Group PLC ADR (A) | 11,746 | — | ||||||
TOTAL RUSSIA | — | |||||||
Singapore — 3.0% | ||||||||
Communication Services — 3.0% | ||||||||
Sea ADR * | 18,578 | 1,242,125 | ||||||
TOTAL SINGAPORE | 1,242,125 | |||||||
South Africa — 3.5% | ||||||||
Consumer Discretionary — 3.5% | ||||||||
Naspers, Cl N | 10,100 | 1,459,727 | ||||||
TOTAL SOUTH AFRICA | 1,459,727 | |||||||
South Korea — 23.5% | ||||||||
Communication Services — 19.2% | ||||||||
AfreecaTV (B) | 3,991 | 246,210 | ||||||
Com2uSCorp (B) | 4,947 | 273,182 | ||||||
Kakao | 17,471 | 940,560 | ||||||
Kakao Games * (B) | 23,457 | 887,948 | ||||||
Krafton * (B) | 5,346 | 901,705 | ||||||
NAVER | 7,217 | 1,334,011 | ||||||
Netmarble (B) | 17,942 | 952,098 | ||||||
NHN * | 13,600 | 292,760 | ||||||
Pearl Abyss * (B) | 23,542 | 926,522 | ||||||
Studio Dragon * | 5,516 | 299,505 | ||||||
Wemade (B) | 18,292 | 812,884 | ||||||
Wysiwyg Studios * (B) | 13,764 | 209,895 | ||||||
8,077,280 | ||||||||
Consumer Discretionary — 2.9% | ||||||||
Coupang, Cl A * | 94,401 | 1,203,613 | ||||||
Information Technology — 1.4% | ||||||||
Douzone Bizon | 12,010 | 337,619 |
30
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Emerging Markets Consumer Technology Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
NHN KCP * | 27,517 | $ | 264,913 | |||||
602,532 | ||||||||
TOTAL SOUTH KOREA | 9,883,425 | |||||||
Taiwan — 2.3% | ||||||||
Consumer Discretionary — 2.3% | ||||||||
momo.com | 45,000 | 965,578 | ||||||
TOTAL TAIWAN | 965,578 | |||||||
United Arab Emirates — 0.7% | ||||||||
Information Technology — 0.7% | ||||||||
Network International Holdings PLC * | 125,046 | 286,715 | ||||||
TOTAL UNITED ARAB EMIRATES | 286,715 | |||||||
United States — 2.7% | ||||||||
Information Technology — 2.7% | ||||||||
Concentrix | 7,034 | 954,092 | ||||||
Ebix | 10,623 | 179,528 | ||||||
TOTAL UNITED STATES | 1,133,620 | |||||||
Uruguay — 0.7% | ||||||||
Information Technology — 0.7% | ||||||||
Dlocal, Cl A * | 11,866 | 311,483 | ||||||
TOTAL URUGUAY | 311,483 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $67,462,760) | 41,920,429 | |||||||
SHORT-TERM INVESTMENT — 10.8% | ||||||||
Invesco Government & Agency Portfolio, Cl Institutional, 1.380% (B)(C) | 4,554,465 | 4,554,465 | ||||||
TOTAL SHORT-TERM INVESTMENT | ||||||||
(Cost $4,554,465) | 4,554,465 | |||||||
TOTAL INVESTMENTS — 110.6% | ||||||||
(Cost $72,017,225) | 46,474,894 | |||||||
OTHER ASSETS LESS LIABILITIES – (10.6)% | (4,465,654 | ) | ||||||
NET ASSETS - 100% | $ | 42,009,240 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. | |
* | Non-income producing security. | |
(A) | Level 3 security in accordance with fair value hierarchy. | |
(B) | This security or a partial position of this security is on loan at June 30, 2022. The total market value of securities on loan at June 30, 2022 was $4,042,143. | |
(C) | The rate shown is the 7-day effective yield as of June 30, 2022. | |
(D) | This security was purchased with cash collateral held from securities on loan. The total value of such security as of June 30, 2022 was $4,554,465. |
31
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Emerging Markets Consumer Technology Index ETF
ADR — American Depositary Receipt |
CAD — Canadian Dollar |
Cl — Class |
GDR — Global Depositary Receipt |
PLC — Public Limited Company |
The following summarizes the market value of the Fund’s investments used as of June 30, 2022, based on the inputs used to value them:
Investments in Securities | Level 1 | Level 2 | Level 3^ | Total | ||||||||||||
Common Stock | ||||||||||||||||
Brazil | $ | 3,046,385 | $ | — | $ | — | $ | 3,046,385 | ||||||||
China | 18,918,818 | — | — | 18,918,818 | ||||||||||||
Egypt | 297,268 | — | — | 297,268 | ||||||||||||
Greece | 325,292 | — | — | 325,292 | ||||||||||||
India | 2,406,442 | — | — | 2,406,442 | ||||||||||||
Indonesia | 335,699 | — | — | 335,699 | ||||||||||||
Japan | 979,472 | — | — | 979,472 | ||||||||||||
Malaysia | 328,380 | — | — | 328,380 | ||||||||||||
Russia | ||||||||||||||||
Communication Services | — | — | — | ‡‡ | — | |||||||||||
Consumer Discretionary | — | — | — | ‡‡ | — | |||||||||||
Industrials | — | — | — | ‡‡ | — | |||||||||||
Singapore | 1,242,125 | — | — | 1,242,125 | ||||||||||||
South Africa | 1,459,727 | — | — | 1,459,727 | ||||||||||||
South Korea | ||||||||||||||||
Communication Services | 5,385,776 | 2,691,504 | — | 8,077,280 | ||||||||||||
Consumer Discretionary | 1,203,613 | — | — | 1,203,613 | ||||||||||||
Information Technology | 602,532 | — | — | 602,532 | ||||||||||||
Taiwan | 965,578 | — | — | 965,578 | ||||||||||||
United Arab Emirates | 286,715 | — | — | 286,715 | ||||||||||||
United States | 1,133,620 | — | — | 1,133,620 | ||||||||||||
Uruguay | 311,483 | — | — | 311,483 | ||||||||||||
Total Common Stock | 39,228,925 | 2,691,504 | — | 41,920,429 | ||||||||||||
Short-Term Investment | 4,554,465 | — | — | 4,554,465 | ||||||||||||
Total Investments in Securities | $ | 43,783,390 | $ | 2,691,504 | $ | — | $ | 46,474,894 |
^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |
‡‡ | Security or securities with a market value of $0. |
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-007-1000
32
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI China Clean Technology Index ETF
Shares | Value | |||||||
COMMON STOCK — 99.6% ‡ | ||||||||
China — 97.1% | ||||||||
Consumer Discretionary — 44.8% | ||||||||
BYD, Cl A | 41,100 | $ | 2,044,456 | |||||
BYD, Cl H | 312,500 | 12,504,859 | ||||||
Li Auto ADR * | 500,036 | 19,156,379 | ||||||
NIO ADR * | 720,041 | 15,639,291 | ||||||
Niu Technologies ADR * | 53,214 | 457,640 | ||||||
Tianneng Power International | 1,185,885 | 1,283,067 | ||||||
XPeng ADR, Cl A * | 508,084 | 16,126,586 | ||||||
Yadea Group Holdings | 2,100,694 | 4,112,000 | ||||||
71,324,278 | ||||||||
Industrials — 23.5% | ||||||||
Beijing Easpring Material Technology, Cl A | 53,500 | 720,920 | ||||||
Beijing-Shanghai High Speed Railway, Cl A | 4,318,700 | 3,233,775 | ||||||
China Conch Venture Holdings | 2,285,000 | 4,979,450 | ||||||
China Everbright Environment Group | 6,492,216 | 3,830,655 | ||||||
Contemporary Amperex Technology, Cl A * | 96,250 | 7,666,463 | ||||||
CT Environmental Group * (A) | 329,000 | — | ||||||
Dynagreen Environmental Protection Group, Cl H | 676,000 | 282,566 | ||||||
Ginlong Technologies, Cl A | 39,250 | 1,247,017 | ||||||
Gotion High-tech, Cl A | 175,700 | 1,195,060 | ||||||
Ming Yang Smart Energy Group, Cl A | 222,100 | 1,119,743 | ||||||
ReneSola ADR * | 67,421 | 320,250 | ||||||
Riyue Heavy Industry, Cl A | 102,200 | 387,202 | ||||||
Sungrow Power Supply, Cl A | 153,800 | 2,253,938 | ||||||
Titan Wind Energy Suzhou, Cl A | 190,309 | 468,094 | ||||||
Wuxi Lead Intelligent Equipment, Cl A | 82,520 | 777,664 | ||||||
Xinjiang Goldwind Science & Technology, Cl A | 364,335 | 804,295 | ||||||
Xinjiang Goldwind Science & Technology, Cl H | 1,366,404 | 2,556,256 | ||||||
Zhejiang Weiming Environment Protection, Cl A | 137,615 | 684,975 | ||||||
Zhuzhou CRRC Times Electric, Cl H | 970,900 | 4,788,335 | ||||||
37,316,658 | ||||||||
Information Technology — 17.1% | ||||||||
China Railway Signal & Communication, Cl A | 758,175 | 512,296 | ||||||
Chindata Group Holdings ADR * | 227,632 | 1,766,424 | ||||||
GCL System Integration Technology, Cl A * | 617,500 | 342,636 | ||||||
JA Solar Technology, Cl A | 236,320 | 2,781,189 | ||||||
JinkoSolar Holding ADR * | 71,247 | 4,928,868 | ||||||
Kingsoft Cloud Holdings ADR * | 192,256 | 855,539 | ||||||
LONGi Green Energy Technology, Cl A | 751,846 | 7,472,258 | ||||||
Trina Solar, Cl A | 228,753 | 2,226,385 | ||||||
Tuya ADR * | 345,768 | 905,912 | ||||||
Xinyi Solar Holdings | 3,503,588 | 5,411,464 | ||||||
27,202,971 |
33
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI China Clean Technology Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Real Estate — 3.0% | ||||||||
China Evergrande Group * (A) | 7,881,000 | $ | 1,637,073 | |||||
Guangzhou R&F Properties, Cl H | 2,988,400 | 788,330 | ||||||
Shimao Group Holdings (A) | 2,540,500 | 1,392,153 | ||||||
SOHO China * | 3,680,500 | 698,863 | ||||||
Yuzhou Group Holdings | 4,071,000 | 241,242 | ||||||
4,757,661 | ||||||||
Utilities — 8.7% | ||||||||
Beijing Enterprises Water Group | 7,098,500 | 2,143,947 | ||||||
CECEP Solar Energy, Cl A * | 317,400 | 395,318 | ||||||
CECEP Wind-Power, Cl A | 529,100 | 378,819 | ||||||
China Datang Renewable Power, Cl H | 3,911,000 | 1,330,755 | ||||||
China Everbright Greentech | 1,085,000 | 298,664 | ||||||
China Everbright Water | 1,486,257 | 309,704 | ||||||
China Longyuan Power Group, Cl H | 2,953,800 | 5,706,626 | ||||||
China Three Gorges Renewables Group, Cl A | 3,015,300 | 2,829,008 | ||||||
GCL New Energy Holdings * | 16,294,000 | 419,448 | ||||||
13,812,289 | ||||||||
TOTAL CHINA | 154,413,857 | |||||||
Hong Kong — 2.5% | ||||||||
Industrials — 0.3% | ||||||||
China High Speed Transmission Equipment Group * | 714,000 | 423,107 | ||||||
Real Estate — 1.0% | ||||||||
Yuexiu Real Estate Investment Trust † | 4,102,000 | 1,599,618 | ||||||
Utilities — 1.2% | ||||||||
Beijing Energy International Holding * | 14,138,000 | 439,619 | ||||||
Canvest Environmental Protection Group | 854,000 | 442,947 | ||||||
Concord New Energy Group | 11,020,000 | 1,095,407 | ||||||
1,977,973 | ||||||||
TOTAL HONG KONG | 4,000,698 | |||||||
TOTAL CO,MMON STOCK | ||||||||
(Cost $171,427,387) | 158,414,555 | |||||||
TOTAL INVESTMENTS — 99.6% | ||||||||
(Cost $171,427,387) | 158,414,555 | |||||||
OTHER ASSETS LESS LIABILITIES – 0.4% | 703,878 | |||||||
NET ASSETS - 100% | $ | 159,118,433 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
† | Real Estate Investment Trust |
(A) | Level 3 security in accordance with fair value hierarchy. |
ADR — American Depositary Receipt |
Cl — Class |
34
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI China Clean Technology Index ETF
The following summarizes the market value of the Fund’s investments used as of June 30, 2022, based on the inputs used to value them:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | ||||||||||||||||
China | ||||||||||||||||
Consumer Discretionary | $ | 71,324,278 | $ | — | $ | — | $ | 71,324,278 | ||||||||
Industrials | 37,316,658 | — | — | #(1) | 37,316,658 | |||||||||||
Information Technology | 27,202,971 | — | — | 27,202,971 | ||||||||||||
Real Estate | 1,728,435 | — | 3,029,226 | (2) | 4,757,661 | |||||||||||
Utilities | 13,812,289 | — | — | 13,812,289 | ||||||||||||
Hong Kong | 4,000,698 | — | — | 4,000,698 | ||||||||||||
Total Common Stock | 155,385,329 | — | 3,029,226 | 158,414,555 | ||||||||||||
Total Investments in Securities | $ | 155,385,329 | $ | — | $ | 3,029,226 | $ | 158,414,555 |
# | Security or securities with a market value of $0. |
(1) | At June 30, 2022, this amount was fair valued using the Monthly Return of Equity Movement document from the issuer. |
(2) | At June 30, 2022, this amount was fair valued using sector performance and news of potential restructuring proposal of debt. |
The following is a reconciliation of the investments in which significant unobservable inputs (Level 3) were used in determining value:
Common Stock | ||||
Beginning balance as of March 31, 2022 | $ | 1,681,627 | ||
Accrued discounts/premiums | — | |||
Change in unrealized appreciation/(depreciation) (1) | (86,245 | ) | ||
Purchases | — | |||
Sales | — | |||
Transfer into Level 3 | 1,433,844 | |||
Transfer out of Level 3 | — | |||
Ending balance as of June 30, 2022 | $ | 3,029,226 |
(1) | Change in unrealized appreciation/(depreciation) is included on the Statement of Operations in Net Change in Unrealized Appreciation (Depreciation) on Investments. |
Transfers into Level 3 were due to the availability of observable inputs to determine fair value.
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-008-1000
35
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Electric Vehicles and Future Mobility Index ETF
Shares | Value | |||||||
COMMON STOCK — 97.5% ‡ | ||||||||
Australia — 5.9% | ||||||||
Materials — 5.9% | ||||||||
Allkem * | 412,399 | $ | 2,923,770 | |||||
IGO | 524,631 | 3,585,975 | ||||||
Lynas Rare Earths * | 629,111 | 3,776,664 | ||||||
Mineral Resources | 53,994 | 1,792,213 | ||||||
Pilbara Minerals * | 1,520,584 | 2,394,489 | ||||||
TOTAL AUSTRALIA | 14,473,111 | |||||||
Belgium — 1.9% | ||||||||
Materials — 1.9% | ||||||||
Umicore | 133,878 | 4,663,539 | ||||||
TOTAL BELGIUM | 4,663,539 | |||||||
Canada — 2.6% | ||||||||
Industrials — 2.6% | ||||||||
Ballard Power Systems * (A) | 170,784 | 1,076,378 | ||||||
Magna International | 95,768 | 5,247,399 | ||||||
TOTAL CANADA | 6,323,777 | |||||||
China — 42.4% | ||||||||
Consumer Discretionary — 21.7% | ||||||||
Brilliance China Automotive Holdings * (B) | 2,170,000 | 1,612,232 | ||||||
BYD, Cl A | 218,000 | 10,844,071 | ||||||
Geely Automobile Holdings | 3,279,000 | 7,454,789 | ||||||
Guangzhou Automobile Group, Cl H | 2,034,000 | 1,967,396 | ||||||
Li Auto ADR * | 225,437 | 8,636,491 | ||||||
NIO ADR * | 575,943 | 12,509,482 | ||||||
Shenzhen Kedali Industry, Cl A | 44,336 | 1,051,494 | ||||||
XPeng ADR, Cl A * | 248,276 | 7,880,280 | ||||||
Yadea Group Holdings | 724,000 | 1,417,193 | ||||||
53,373,428 | ||||||||
Industrials — 10.4% | ||||||||
Beijing Easpring Material Technology, Cl A | 96,800 | 1,304,393 | ||||||
China Baoan Group, Cl A | 501,907 | 1,009,923 | ||||||
Contemporary Amperex Technology, Cl A * | 145,789 | 11,612,321 | ||||||
Eve Energy, Cl A | 370,660 | 5,390,554 | ||||||
Gotion High-tech, Cl A | 314,389 | 2,138,382 | ||||||
Guangzhou Great Power Energy & Technology, Cl A | 80,700 | 739,688 | ||||||
Qingdao TGOOD Electric, Cl A | 208,800 | 539,114 | ||||||
Wuxi Lead Intelligent Equipment, Cl A | 308,876 | 2,910,830 | ||||||
25,645,205 |
36
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Electric Vehicles and Future Mobility Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — 0.8% | ||||||||
NXP Semiconductors | 13,996 | $ | 2,071,828 | |||||
Materials — 9.5% | ||||||||
CMOC Group, Cl A | 3,439,800 | 2,939,956 | ||||||
Ganfeng Lithium, Cl A | 213,827 | 4,742,710 | ||||||
GEM, Cl A | 958,840 | 1,301,489 | ||||||
Guangzhou Tinci Materials Technology, Cl A | 361,894 | 3,350,011 | ||||||
Ningbo Shanshan, Cl A | 425,900 | 1,888,033 | ||||||
Shanghai Putailai New Energy Technology, Cl A | 266,040 | 3,349,210 | ||||||
Xiamen Tungsten, Cl A | 279,451 | 901,186 | ||||||
Zhejiang Huayou Cobalt, Cl A | 343,963 | 4,905,844 | ||||||
23,378,439 | ||||||||
TOTAL CHINA | 104,468,900 | |||||||
Germany — 3.9% | ||||||||
Consumer Discretionary — 3.1% | ||||||||
Bayerische Motoren Werke | 29,474 | 2,263,557 | ||||||
Mercedes-Benz Group | 34,821 | 2,010,199 | ||||||
Vitesco Technologies Group * | 28,110 | 1,084,398 | ||||||
Volkswagen | 12,291 | 2,234,540 | ||||||
7,592,694 | ||||||||
Information Technology — 0.8% | ||||||||
Infineon Technologies | 83,920 | 2,025,773 | ||||||
TOTAL GERMANY | 9,618,467 | |||||||
Indonesia — 0.5% | ||||||||
Materials — 0.5% | ||||||||
Aneka Tambang | 6,294,000 | 760,477 | ||||||
Vale Indonesia * | 1,524,200 | 578,065 | ||||||
TOTAL INDONESIA | 1,338,542 | |||||||
Japan — 5.9% | ||||||||
Consumer Discretionary — 2.2% | ||||||||
Panasonic Holdings | 669,200 | 5,401,184 |
37
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Electric Vehicles and Future Mobility Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — 3.7% | ||||||||
Nidec | 147,100 | $ | 9,073,630 | |||||
TOTAL JAPAN | 14,474,814 | |||||||
Netherlands — 0.6% | ||||||||
Industrials — 0.6% | ||||||||
Alfen Beheer BV * | 15,269 | 1,407,290 | ||||||
TOTAL NETHERLANDS | 1,407,290 | |||||||
South Korea — 8.8% | ||||||||
Industrials — 1.2% | ||||||||
Ecopro (A) | 35,070 | 3,065,654 | ||||||
Information Technology — 4.6% | ||||||||
L&F * (A) | 18,013 | 2,913,378 | ||||||
Samsung SDI | 20,706 | 8,483,974 | ||||||
11,397,352 | ||||||||
Materials — 3.0% | ||||||||
LG Chemical | 15,097 | 5,999,732 | ||||||
SK IE Technology * (A) | 18,214 | 1,376,150 | ||||||
7,375,882 | ||||||||
TOTAL SOUTH KOREA | 21,838,888 | |||||||
Sweden — 1.1% | ||||||||
Consumer Discretionary — 0.9% | ||||||||
Volvo Car, Cl B * (A) | 347,324 | 2,303,427 | ||||||
Industrials — 0.2% | ||||||||
PowerCell Sweden * | 30,088 | 398,143 | ||||||
TOTAL SWEDEN | 2,701,570 | |||||||
United Kingdom — 0.3% | ||||||||
Industrials — 0.3% | ||||||||
ITM Power * (A) | 346,158 | 726,435 | ||||||
TOTAL UNITED KINGDOM | 726,435 | |||||||
United States — 23.6% | ||||||||
Consumer Discretionary — 13.2% | ||||||||
Aptiv * | 102,052 | 9,089,772 | ||||||
EVgo * (A) | 53,131 | 319,317 | ||||||
Ford Motor | 187,877 | 2,091,071 | ||||||
General Motors * | 67,154 | 2,132,811 | ||||||
Lucid Group * (A) | 360,215 | 6,181,289 | ||||||
Rivian Automotive, Cl A * (A) | 141,915 | 3,652,892 |
38
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Electric Vehicles and Future Mobility Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
Tesla * | 13,545 | $ | 9,121,474 | |||||
32,588,626 | ||||||||
Industrials — 4.0% | ||||||||
ChargePoint Holdings * (A) | 163,719 | 2,241,313 | ||||||
Nikola * (A) | 192,534 | 916,462 | ||||||
Plug Power * (A) | 362,803 | 6,011,646 | ||||||
Proterra * (A) | 161,689 | 750,237 | ||||||
9,919,658 | ||||||||
Information Technology — 2.0% | ||||||||
Analog Devices | 15,056 | 2,199,531 | ||||||
SolarEdge Technologies * | 9,754 | 2,669,475 | ||||||
4,869,006 | ||||||||
Materials — 4.4% | ||||||||
Albemarle | 39,228 | 8,197,867 | ||||||
Livent * | 112,613 | 2,555,189 | ||||||
10,753,056 | ||||||||
TOTAL UNITED STATES | 58,130,346 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $280,182,327) | 240,165,679 | |||||||
PREFERRED STOCK — 2.3% | ||||||||
CHILE— 2.3% | ||||||||
Materials — 2.3% | ||||||||
Sociedad Quimica y Minera de Chile (C) | 67,986 | 5,551,418 | ||||||
TOTAL PREFERRED STOCK | ||||||||
(Cost $4,396,316) | 5,551,418 | |||||||
SHORT-TERM INVESTMENT — 11.3% | ||||||||
Invesco Government & Agency Portfolio, Cl Institutional, 1.380% (D)(E) | 27,927,909 | 27,927,909 | ||||||
TOTAL SHORT-TERM INVESTMENT | ||||||||
(Cost $27,927,909) | 27,927,909 | |||||||
TOTAL INVESTMENTS — 111.1% | ||||||||
(Cost $312,506,552) | 273,645,006 | |||||||
OTHER ASSETS LESS LIABILITIES – (11.1)% | (27,322,705 | ) | ||||||
NET ASSETS - 100% | $ | 246,322,301 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at June 30, 2022. The total market value of securities on loan at June 30, 2022 was $26,862,193. |
(B) | Level 3 security in accordance with fair value hierarchy. |
(C) | Currently, no stated interest rate. |
(D) | The rate shown is the 7-day effective yield as of June 30, 2022. |
(E) | This security was purchased with cash collateral held from securities on loan. The total value of such security as of June 30, 2022 was $27,927,909. |
ADR — American Depositary Receipt
Cl — Class
39
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Electric Vehicles and Future Mobility Index ETF
The following summarizes the market value of the Fund’s investments used as of June 30, 2022, based on the inputs used to value them:
Investments in Securities | Level 1 | Level 2 | Level 3^ | Total | ||||||||||||
Common Stock | ||||||||||||||||
Australia | $ | 14,473,111 | $ | — | $ | — | $ | 14,473,111 | ||||||||
Belgium | 4,663,539 | — | — | 4,663,539 | ||||||||||||
Canada | 6,323,777 | — | — | 6,323,777 | ||||||||||||
China | ||||||||||||||||
Consumer Discretionary | 51,761,196 | — | 1,612,232 | 53,373,428 | ||||||||||||
Industrials | 25,645,205 | — | — | 25,645,205 | ||||||||||||
Information Technology | 2,071,828 | — | — | 2,071,828 | ||||||||||||
Materials | 23,378,439 | — | — | 23,378,439 | ||||||||||||
Germany | 9,618,467 | — | — | 9,618,467 | ||||||||||||
Indonesia | 1,338,542 | — | — | 1,338,542 | ||||||||||||
Japan | 14,474,814 | — | — | 14,474,814 | ||||||||||||
Netherlands | 1,407,290 | — | — | 1,407,290 | ||||||||||||
South Korea | 21,838,888 | — | — | 21,838,888 | ||||||||||||
Sweden | 2,701,570 | — | — | 2,701,570 | ||||||||||||
United Kingdom | 726,435 | — | — | 726,435 | ||||||||||||
United States | 58,130,346 | — | — | 58,130,346 | ||||||||||||
Total Common Stock | 238,553,447 | — | 1,612,232 | 240,165,679 | ||||||||||||
Short-Term Investment | 27,927,909 | — | — | 27,927,909 | ||||||||||||
Preferred Stock | ||||||||||||||||
Chile | 5,551,418 | — | — | 5,551,418 | ||||||||||||
Total Preferred Stock | 5,551,418 | — | — | 5,551,418 | ||||||||||||
Total Investments in Securities | $ | 272,032,774 | $ | — | $ | 1,612,232 | $ | 273,645,006 |
^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-009-0900
40
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Health Care Index ETF
Shares | Value | |||||||
COMMON STOCK — 99.6% ‡ | ||||||||
China — 96.2% | ||||||||
Health Care — 96.2% | ||||||||
3SBio | 666,000 | $ | 529,612 | |||||
Aier Eye Hospital Group, Cl A | 742,728 | 4,959,866 | ||||||
Apeloa Pharmaceutical, Cl A | 159,292 | 490,407 | ||||||
Asymchem Laboratories Tianjin, Cl A | 32,803 | 1,414,049 | ||||||
Autobio Diagnostics, Cl A | 80,630 | 587,990 | ||||||
BeiGene ADR * | 21,685 | 3,509,717 | ||||||
Beijing Tiantan Biological Products, Cl A * | 191,118 | 692,155 | ||||||
Beijing Tongrentang, Cl A | 181,590 | 1,432,308 | ||||||
Beijing Wantai Biological Pharmacy Enterprise, Cl A * | 81,130 | 1,879,343 | ||||||
Betta Pharmaceuticals, Cl A | 56,763 | 514,780 | ||||||
BGI Genomics, Cl A | 57,427 | 614,170 | ||||||
Bloomage Biotechnology, Cl A | 43,850 | 929,953 | ||||||
CanSino Biologics, Cl A | 15,524 | 460,982 | ||||||
CanSino Biologics, Cl H (A) | 41,200 | 421,873 | ||||||
Changchun High & New Technology Industry Group, Cl A | 55,508 | 1,932,621 | ||||||
China Medical System Holdings | 611,000 | 953,063 | ||||||
China National Medicines, Cl A | 103,955 | 415,249 | ||||||
China Resources Sanjiu Medical & Pharmaceutical, Cl A | 135,090 | 906,752 | ||||||
China Traditional Chinese Medicine Holdings | 1,278,000 | 789,899 | ||||||
Chongqing Zhifei Biological Products, Cl A | 217,649 | 3,603,892 | ||||||
CSPC Pharmaceutical Group | 4,212,889 | 4,182,314 | ||||||
Daan Gene, Cl A | 195,347 | 500,882 | ||||||
Dong-E-E-Jiao, Cl A | 90,540 | 499,009 | ||||||
Genscript Biotech * | 528,000 | 1,914,323 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings, Cl A | 195,040 | 919,023 | ||||||
Guangzhou Kingmed Diagnostics Group, Cl A | 63,799 | 785,568 | ||||||
Hangzhou Tigermed Consulting, Cl A | 50,250 | 857,837 | ||||||
Hangzhou Tigermed Consulting, Cl H | 55,800 | 644,972 | ||||||
Hansoh Pharmaceutical Group | 540,000 | 1,090,054 | ||||||
Huadong Medicine, Cl A | 241,341 | 1,625,691 | ||||||
Hualan Biological Engineering, Cl A | 254,547 | 865,677 | ||||||
Humanwell Healthcare Group, Cl A | 223,600 | 533,636 | ||||||
Hutchmed China ADR * | 39,748 | 502,415 | ||||||
Hygeia Healthcare Holdings * (A) | 150,800 | 1,002,201 | ||||||
Imeik Technology Development, Cl A | 25,200 | 2,255,340 | ||||||
Innovent Biologics * | 476,000 | 2,117,052 | ||||||
Intco Medical Technology, Cl A | 91,172 | 344,877 | ||||||
Jafron Biomedical, Cl A | 110,490 | 838,704 | ||||||
Jiangsu Hengrui Medicine, Cl A | 878,528 | 4,860,327 | ||||||
Jiangsu Yuyue Medical Equipment & Supply, Cl A | 139,510 | 533,968 | ||||||
Jinxin Fertility Group | 685,000 | 631,143 | ||||||
Joincare Pharmaceutical Group Industry, Cl A | 262,745 | 484,010 | ||||||
Joinn Laboratories China, Cl A | 42,960 | 729,222 | ||||||
Jointown Pharmaceutical Group, Cl A | 259,306 | 460,657 | ||||||
Lepu Medical Technology Beijing, Cl A | 246,700 | 683,336 | ||||||
Livzon Pharmaceutical Group, Cl A | 86,359 | 466,433 |
41
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Health Care Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Meinian Onehealth Healthcare Holdings, Cl A * | 537,783 | $ | 446,803 | |||||
Microport Scientific * (A) | 286,500 | 830,625 | ||||||
Nanjing King-Friend Biochemical Pharmaceutical, Cl A | 173,372 | 729,258 | ||||||
Ovctek China, Cl A | 118,893 | 1,014,214 | ||||||
Pharmaron Beijing, Cl A | 133,150 | 1,891,134 | ||||||
Pharmaron Beijing, Cl H | 120,500 | 1,206,236 | ||||||
Shandong Buchang Pharmaceuticals, Cl A | 157,383 | 462,698 | ||||||
Shandong Weigao Group Medical Polymer, Cl H | 1,129,200 | 1,312,396 | ||||||
Shanghai Fosun Pharmaceutical Group, Cl A | 276,429 | 1,817,928 | ||||||
Shanghai Fosun Pharmaceutical Group, Cl H | 228,000 | 844,073 | ||||||
Shanghai Junshi Biosciences, Cl A * | 94,487 | 1,061,820 | ||||||
Shanghai Medicilon, Cl A | 11,987 | 607,207 | ||||||
Shanghai Pharmaceuticals Holding, Cl A | 381,294 | 1,028,280 | ||||||
Shanghai Pharmaceuticals Holding, Cl H | 356,000 | 589,783 | ||||||
Shanghai RAAS Blood Products, Cl A | 936,434 | 828,295 | ||||||
Shenzhen Kangtai Biological Products, Cl A | 148,777 | 1,002,616 | ||||||
Shenzhen Mindray Bio-Medical Electronics, Cl A | 164,755 | 7,696,857 | ||||||
Shenzhen New Industries Biomedical Engineering, Cl A | 91,500 | 615,669 | ||||||
Shenzhen Salubris Pharmaceuticals, Cl A | 155,765 | 652,874 | ||||||
Shijiazhuang Yiling Pharmaceutical, Cl A | 230,350 | 834,925 | ||||||
Sichuan Kelun Pharmaceutical, Cl A | 198,815 | 554,554 | ||||||
Sinopharm Group, Cl H | 616,400 | 1,494,074 | ||||||
Tasly Pharmaceutical Group, Cl A | 122,192 | 191,558 | ||||||
Tonghua Dongbao Pharmaceutical, Cl A | 278,891 | 430,138 | ||||||
Topchoice Medical, Cl A * | 43,641 | 1,135,517 | ||||||
Walvax Biotechnology, Cl A | 219,000 | 1,580,712 | ||||||
Winning Health Technology Group, Cl A | 297,900 | 390,138 | ||||||
WuXi AppTec, Cl A | 355,520 | 5,514,532 | ||||||
WuXi AppTec, Cl H | 157,584 | 2,098,590 | ||||||
Wuxi Biologics Cayman * | 1,255,635 | 11,489,125 | ||||||
Yunnan Baiyao Group, Cl A | 247,723 | 2,231,436 | ||||||
Zai Lab ADR * | 40,030 | 1,388,240 | ||||||
Zhangzhou Pientzehuang Pharmaceutical, Cl A | 82,334 | 4,380,986 | ||||||
Zhejiang Huahai Pharmaceutical, Cl A | 201,872 | 683,526 | ||||||
Zhejiang Jiuzhou Pharmaceutical, Cl A | 113,100 | 872,180 | ||||||
Zhejiang NHU, Cl A | 423,730 | 1,441,674 | ||||||
Zhejiang Orient Gene Biotech, Cl A | 23,194 | 394,916 |
42
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Health Care Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Zhejiang Wolwo Bio-Pharmaceutical, Cl A | 73,036 | $ | 566,818 | |||||
TOTAL CHINA | 119,679,757 | |||||||
Hong Kong — 2.5% | ||||||||
Health Care — 2.5% | ||||||||
Sino Biopharmaceutical | 4,867,750 | 3,083,073 | ||||||
TOTAL HONG KONG | 3,083,073 | |||||||
United States — 0.9% | ||||||||
Health Care — 0.9% | ||||||||
Legend Biotech ADR * | 21,308 | 1,171,940 | ||||||
TOTAL UNITED STATES | 1,171,940 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $157,881,256) | 123,934,770 | |||||||
SHORT-TERM INVESTMENT — 1.7% | ||||||||
Invesco Government & Agency Portfolio, Cl Institutional, 1.380% (B)(C) | 2,088,848 | 2,088,848 | ||||||
TOTAL SHORT-TERM INVESTMENT | ||||||||
(Cost $2,088,848) | 2,088,848 | |||||||
TOTAL INVESTMENTS — 101.3% | ||||||||
(Cost $159,970,104) | 126,023,618 | |||||||
OTHER ASSETS LESS LIABILITIES – (1.3)% | (1,616,629 | ) | ||||||
NET ASSETS - 100% | $ | 124,406,989 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
(A) | This security or a partial position of this security is on loan at June 30, 2022. The total market value of securities on loan at June 30, 2022 was $1,987,553. |
(B) | The rate shown is the 7-day effective yield as of June 30, 2022. |
(C) | This security was purchased with cash collateral held from securities on loan. The total value of such security as of June 30, 2022 was $2,088,848. |
ADR — American Depositary Receipt
Cl — Class
43
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI All China Health Care Index ETF
The following summarizes the market value of the Fund’s investments used as of June 30, 2022, based on the inputs used to value them:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stock | ||||||||||||||||
China | ||||||||||||||||
Health Care | $ | 119,501,995 | $ | 177,762 | $ | — | $ | 119,679,757 | ||||||||
Hong Kong | 3,083,073 | — | — | 3,083,073 | ||||||||||||
United States | 1,171,940 | — | — | 1,171,940 | ||||||||||||
Total Common Stock | 123,757,008 | 177,762 | — | 123,934,770 | ||||||||||||
Short-Term Investment | 2,088,848 | — | — | 2,088,848 | ||||||||||||
Total Investments in Securities | $ | 125,845,856 | $ | 177,762 | $ | — | $ | 126,023,618 |
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-010-0900
44
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Asia Pacific High Income Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — 80.6% | ||||||||
AUSTRALIA — 1.5% | ||||||||
Industrials — 1.5% | ||||||||
North Queensland Export Terminal Pty | ||||||||
4.450%, 12/15/2022 | $ | 400,000 | $ | 385,200 | ||||
CHINA — 25.8% | ||||||||
Consumer Discretionary — 1.9% | ||||||||
Haidilao International Holding | ||||||||
2.150%, 01/14/2026 | 200,000 | 152,051 | ||||||
Health & Happiness H&H International Holdings | ||||||||
5.625%, 10/24/2024 | 200,000 | 174,100 | ||||||
Meituan | ||||||||
2.125%, 10/28/2025 | 200,000 | 180,367 | ||||||
506,518 | ||||||||
Financials — 4.1% | ||||||||
China SCE Group Holdings | ||||||||
7.375%, 04/09/2024 | 200,000 | 68,200 | ||||||
7.250%, 04/19/2023 | 200,000 | 82,100 | ||||||
Huarong Finance 2017, MTN | ||||||||
4.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 6.983% ‡ (A) | 600,000 | 593,400 | ||||||
New Metro Global | ||||||||
6.800%, 08/05/2023 | 200,000 | 135,200 | ||||||
ZhongAn Online P&C Insurance | ||||||||
3.125%, 07/16/2025 | 200,000 | 182,394 | ||||||
1,061,294 | ||||||||
Materials — 2.3% | ||||||||
China Hongqiao Group | ||||||||
7.375%, 05/02/2023 | 400,000 | 396,400 | ||||||
Tianqi Finco | ||||||||
3.750%, 11/28/2022 | 200,000 | 193,920 | ||||||
590,320 | ||||||||
Real Estate — 17.5% | ||||||||
China Overseas Finance Cayman V | ||||||||
3.950%, 11/15/2022 | 200,000 | 200,116 | ||||||
CIFI Holdings Group | ||||||||
5.950%, 10/20/2025 | 200,000 | 116,700 | ||||||
5.500%, 01/23/2023 | 400,000 | 330,000 | ||||||
Country Garden Holdings | ||||||||
5.125%, 01/17/2025 | 200,000 | 108,100 | ||||||
3.300%, 01/12/2031 | 200,000 | 81,705 | ||||||
Gemdale Ever Prosperity Investment, MTN, MTN | ||||||||
4.950%, 08/12/2024 | 200,000 | 141,000 |
45
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Asia Pacific High Income Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
Real Estate — continued | ||||||||
Greentown China Holdings | ||||||||
5.650%, 07/13/2025 | $ | 400,000 | $ | 316,000 | ||||
4.700%, 04/29/2025 | 200,000 | 158,050 | ||||||
RKPF Overseas 2019 A | ||||||||
7.875%, 02/01/2023 | 400,000 | 309,157 | ||||||
6.700%, 09/30/2024 | 432,000 | 235,884 | ||||||
5.900%, 03/05/2025 | 200,000 | 96,637 | ||||||
RKPF Overseas 2020 A | ||||||||
5.125%, 07/26/2026 | 200,000 | 92,663 | ||||||
Seazen Group | ||||||||
6.150%, 04/15/2023 | 350,000 | 257,950 | ||||||
Shui On Development Holding | ||||||||
6.150%, 08/24/2024 | 400,000 | 336,200 | ||||||
5.750%, 11/12/2023 | 700,000 | 640,500 | ||||||
Wanda Properties Overseas | ||||||||
6.950%, 12/05/2022 | 400,000 | 356,400 | ||||||
Yango Justice International | ||||||||
10.250%, 09/15/2022 | 400,000 | 28,000 | ||||||
Yanlord Land HK | ||||||||
6.800%, 02/27/2024 | 431,000 | 375,186 | ||||||
6.750%, 04/23/2023 | 200,000 | 190,100 | ||||||
5.125%, 05/20/2026 | 200,000 | 151,220 | ||||||
4,521,568 | ||||||||
TOTAL CHINA | 6,679,700 | |||||||
HONG KONG — 10.1% | ||||||||
Financials — 4.9% | ||||||||
Bank of East Asia | ||||||||
5.875%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.257% ‡ (A) | 250,000 | 246,250 | ||||||
CMB Wing Lung Bank, MTN | ||||||||
6.500%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.948% ‡ (A) | 250,000 | 258,750 | ||||||
FWD | ||||||||
5.500%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.075% ‡ (A) | 400,000 | 390,660 | ||||||
FWD Group | ||||||||
6.375%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.876% ‡ (A) | 200,000 | 190,082 | ||||||
NWD Finance BVI | ||||||||
6.150%, US Treas Yield Curve Rate T Note Const Mat 3 Yr + 6.201% ‡ (A) | 200,000 | 198,000 | ||||||
1,283,742 | ||||||||
Health Care — 1.5% | ||||||||
PCGI Intermediate, MTN | ||||||||
4.750%, 10/28/2024 | 400,000 | 378,232 |
46
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Asia Pacific High Income Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
Industrials — 2.9% | ||||||||
Cathay Pacific Financing HK, MTN | ||||||||
4.875%, 08/17/2026 | $ | 400,000 | $ | 364,544 | ||||
Celestial Miles | ||||||||
5.750%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 8.205% ‡ (A) | 400,000 | 400,600 | ||||||
765,144 | ||||||||
Real Estate — 0.8% | ||||||||
Sun Hung Kai Properties Capital Market, MTN | ||||||||
3.625%, 01/16/2023 | 200,000 | 200,084 | ||||||
TOTAL HONG KONG | 2,627,202 | |||||||
INDIA — 18.3% | ||||||||
Communication Services — 1.1% | ||||||||
Network i2i | ||||||||
5.650%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.274% ‡ (A) | 300,000 | 278,250 | ||||||
Consumer Discretionary — 0.7% | ||||||||
TML Holdings Pte | ||||||||
4.350%, 06/09/2026 | 200,000 | 175,100 | ||||||
Energy — 7.0% | ||||||||
Adani Green Energy | ||||||||
4.375%, 09/08/2024 | 200,000 | 179,600 | ||||||
Azure Power Energy | ||||||||
3.575%, 08/19/2026 | 200,000 | 164,960 | ||||||
Continuum Energy Levanter Pte | ||||||||
4.500%, 02/09/2027 | 394,500 | 311,245 | ||||||
Greenko Solar Mauritius | ||||||||
5.550%, 01/29/2025 | 400,000 | 374,200 | ||||||
HPCL-Mittal Energy | ||||||||
5.250%, 04/28/2027 | 200,000 | 181,100 | ||||||
JSW Hydro Energy | ||||||||
4.125%, 05/18/2031 | 16,000 | 12,732 | ||||||
ReNew Power Pvt | ||||||||
5.875%, 03/05/2027 | 200,000 | 182,100 | ||||||
ReNew Power Synthetic | ||||||||
6.670%, 03/12/2024 | 400,000 | 413,340 | ||||||
1,819,277 | ||||||||
Financials — 2.4% | ||||||||
Muthoot Finance, MTN | ||||||||
4.400%, 09/02/2023 | 200,000 | 194,000 | ||||||
Shriram Transport Finance, MTN | ||||||||
4.150%, 07/18/2025 | 500,000 | 436,929 | ||||||
630,929 |
47
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Asia Pacific High Income Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
Industrials — 4.8% | ||||||||
India Airport Infrastructure | ||||||||
6.250%, 10/25/2025 | $ | 500,000 | $ | 443,125 | ||||
Magnum Holdings | ||||||||
5.375%, 10/31/2026 | 500,000 | 433,316 | ||||||
Periama Holdings | ||||||||
5.950%, 04/19/2026 | 400,000 | 358,000 | ||||||
1,234,441 | ||||||||
Materials — 2.3% | ||||||||
Vedanta Resources | ||||||||
6.375%, 07/30/2022 | 450,000 | 444,375 | ||||||
Vedanta Resources Finance II | ||||||||
8.000%, 04/23/2023 | 200,000 | 165,750 | ||||||
610,125 | ||||||||
TOTAL INDIA | 4,748,122 | |||||||
INDONESIA — 5.0% | ||||||||
Energy — 2.2% | ||||||||
Indika Energy Capital IV Pte | ||||||||
8.250%, 10/22/2025 | 250,000 | 241,375 | ||||||
Medco Bell Pte | ||||||||
6.375%, 01/30/2027 | 400,000 | 342,200 | ||||||
583,575 | ||||||||
Financials — 1.4% | ||||||||
Bank Negara Indonesia Persero, MTN | ||||||||
3.750%, 03/30/2026 | 400,000 | 362,171 | ||||||
Materials — 0.7% | ||||||||
Bukit Makmur Mandiri Utama | ||||||||
7.750%, 02/10/2026 | 200,000 | 170,020 | ||||||
Real Estate — 0.7% | ||||||||
Theta Capital Pte | ||||||||
8.125%, 01/22/2025 | 200,000 | 172,000 | ||||||
TOTAL INDONESIA | 1,287,766 | |||||||
JAPAN — 2.1% | ||||||||
Communication Services — 2.1% | ||||||||
SoftBank Group | ||||||||
6.000%, USD ICE Swap 11:00 NY 5 Yr + 4.226% ‡ (A) | 600,000 | 534,000 | ||||||
MACAU — 3.0% | ||||||||
Consumer Discretionary — 3.0% | ||||||||
MGM China Holdings | ||||||||
5.375%, 05/15/2024 | 200,000 | 170,386 | ||||||
4.750%, 02/01/2027 | 400,000 | 288,022 |
48
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Asia Pacific High Income Bond ETF
Face Amount | Value | |||||||
CORPORATE OBLIGATIONS — continued | ||||||||
Consumer Discretionary — continued | ||||||||
Studio City Finance | ||||||||
6.000%, 07/15/2025 | $ | 500,000 | $ | 316,630 | ||||
775,038 | ||||||||
TOTAL MACAU | 775,038 | |||||||
PHILIPPINES — 7.6% | ||||||||
Energy — 4.6% | ||||||||
AC Energy Finance International, MTN | ||||||||
5.100% ‡ | 200,000 | 190,500 | ||||||
Petron | ||||||||
4.600%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.769% ‡ (A) | 645,000 | 619,522 | ||||||
SMC Global Power Holdings | ||||||||
6.500%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 6.608% ‡ (A) | 400,000 | 394,000 | ||||||
1,204,022 | ||||||||
Financials — 3.0% | ||||||||
Rizal Commercial Banking | ||||||||
6.500%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 6.236% ‡ (A) | 800,000 | 764,346 | ||||||
TOTAL PHILIPPINES | 1,968,368 | |||||||
SINGAPORE — 2.3% | ||||||||
Financials — 1.5% | ||||||||
GLP Pte | ||||||||
4.500%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.735% ‡ (A) | 450,000 | 382,041 | ||||||
Real Estate — 0.8% | ||||||||
CapitaLand Treasury, MTN | ||||||||
4.076%, 09/20/2022 | 200,000 | 200,352 | ||||||
TOTAL SINGAPORE | 582,393 | |||||||
THAILAND — 4.9% | ||||||||
Financials — 4.9% | ||||||||
Kasikornbank, MTN | ||||||||
5.275%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.940% ‡(A) | 400,000 | 371,000 | ||||||
Krung Thai Bank | ||||||||
4.400%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.530% ‡ (A) | 400,000 | 348,500 | ||||||
TMBThanachart Bank, MTN | ||||||||
4.900%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.256% ‡ (A) | 600,000 | 553,589 | ||||||
1,273,089 |
49
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Asia Pacific High Income Bond ETF
Value | ||||
CORPORATE OBLIGATIONS — continued | ||||
TOTAL THAILAND | $ | 1,273,089 | ||
TOTAL CORPORATE OBLIGATIONS | ||||
(Cost $24,122,273) | 20,860,878 | |||
TOTAL INVESTMENTS — 80.6% | ||||
(Cost $24,122,273) | 20,860,878 | |||
OTHER ASSETS LESS LIABILITIES – 19.4% | 5,035,667 | |||
NET ASSETS - 100% | $ | 25,896,545 |
‡ | Perpetual security with no stated maturity date. |
(A) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates for certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
BVI — British Virgin Islands
ICE — Intercontinental Exchange
MTN — Medium Term Note
USD — United States Dollar
As of June 30, 2022, all of the Fund’s investments were considered Level 2 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-012-0900
50
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Emerging Markets Healthcare Index ETF
Shares | Value | |||||||
COMMON STOCK — 100.1% ‡ | ||||||||
Brazil — 5.3% | ||||||||
Health Care — 5.3% | ||||||||
Diagnosticos da America * | 2,300 | $ | 6,725 | |||||
Hapvida Participacoes e Investimentos * | 37,804 | 39,543 | ||||||
Hypera * | 2,700 | 19,640 | ||||||
Odontoprev | 2,580 | 4,613 | ||||||
Rede D’Or Sao Luiz | 8,700 | 48,213 | ||||||
TOTAL BRAZIL | 118,734 | |||||||
China — 47.8% | ||||||||
Consumer Discretionary — 2.4% | ||||||||
JD Health International * | 6,700 | 52,554 | ||||||
Consumer Staples — 1.5% | ||||||||
Anjoy Foods Group, Cl A | 700 | 17,528 | ||||||
Sichuan Swellfun, Cl A | 1,100 | 15,183 | ||||||
32,711 | ||||||||
Health Care — 43.9% | ||||||||
3SBio | 5,500 | 4,374 | ||||||
Aier Eye Hospital Group, Cl A | 12,159 | 81,196 | ||||||
Akeso * | 1,000 | 2,937 | ||||||
Angelalign Technology * | 200 | 4,007 | ||||||
BeiGene * | 3,200 | 40,168 | ||||||
Beijing Wantai Biological Pharmacy Enterprise, Cl A | 605 | 14,015 | ||||||
CanSino Biologics, Cl H | 200 | 2,048 | ||||||
Changchun High & New Technology Industry Group, Cl A | 1,000 | 34,817 | ||||||
China Evergrande New Energy Vehicle Group * (A) | 16,000 | 6,525 | ||||||
China Medical System Holdings | 5,000 | 7,799 | ||||||
China Resources Double Crane Pharmaceutical, Cl A | 2,900 | 11,100 | ||||||
China Resources Sanjiu Medical & Pharmaceutical, Cl A | 2,400 | 16,109 | ||||||
Chongqing Zhifei Biological Products, Cl A | 4,113 | 68,104 | ||||||
Genscript Biotech * | 4,000 | 14,502 | ||||||
Guangzhou Kingmed Diagnostics Group, Cl A | 1,100 | 13,544 | ||||||
Hangzhou Tigermed Consulting, Cl H | 200 | 2,312 | ||||||
Hansoh Pharmaceutical Group | 14,000 | 28,261 | ||||||
Huadong Medicine, Cl A | 3,940 | 26,540 | ||||||
Hygeia Healthcare Holdings * | 1,200 | 7,975 | ||||||
InnoCare Pharma * | 3,000 | 5,115 | ||||||
Innovent Biologics * | 3,000 | 13,343 | ||||||
Jiangsu Hengrui Medicine, Cl A | 15,259 | 84,418 | ||||||
Jinxin Fertility Group | 5,000 | 4,607 | ||||||
Lifetech Scientific * | 10,000 | 3,683 | ||||||
Livzon Pharmaceutical Group, Cl H | 700 | 2,422 | ||||||
Luye Pharma Group * | 8,000 | 2,630 | ||||||
Microport Scientific * | 3,900 | 11,307 | ||||||
Nanjing King-Friend Biochemical Pharmaceutical, Cl A | 2,902 | 12,207 | ||||||
Shandong Weigao Group Medical Polymer, Cl H | 10,800 | 12,552 | ||||||
Shanghai Fosun Pharmaceutical Group, Cl H | 1,000 | 3,702 |
51
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Emerging Markets Healthcare Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Shanghai Junshi Biosciences, Cl H * | 600 | $ | 3,230 | |||||
Shanghai Pharmaceuticals Holding, Cl H | 2,200 | 3,645 | ||||||
Shenzhen Kangtai Biological Products, Cl A | 2,400 | 16,174 | ||||||
Shenzhen Mindray Bio-Medical Electronics, Cl A | 2,100 | 98,106 | ||||||
Shijiazhuang Yiling Pharmaceutical, Cl A | 4,400 | 15,948 | ||||||
Sihuan Pharmaceutical Holdings Group | 21,000 | 3,426 | ||||||
Simcere Pharmaceutical Group | 5,000 | 5,480 | ||||||
Sinopharm Group, Cl H | 2,800 | 6,787 | ||||||
Topchoice Medical, Cl A * | 700 | 18,214 | ||||||
Walvax Biotechnology, Cl A | 3,800 | 27,428 | ||||||
WuXi AppTec, Cl H | 858 | 11,426 | ||||||
Wuxi Biologics Cayman * | 9,781 | 89,497 | ||||||
Yunnan Baiyao Group, Cl A | 1,980 | 17,835 | ||||||
Zai Lab * | 2,100 | 7,159 | ||||||
Zhangzhou Pientzehuang Pharmaceutical, Cl A | 1,400 | 74,494 | ||||||
Zhejiang Jiuzhou Pharmaceutical, Cl A | 2,000 | 15,423 | ||||||
Zhejiang NHU, Cl A | 7,824 | 26,620 | ||||||
983,211 | ||||||||
TOTAL CHINA | 1,068,476 | |||||||
Hungary — 0.7% | ||||||||
Health Care — 0.7% | ||||||||
Richter Gedeon Nyrt | 881 | 15,854 | ||||||
TOTAL HUNGARY | 15,854 | |||||||
India — 10.9% | ||||||||
Health Care — 10.9% | ||||||||
Apollo Hospitals Enterprise | 657 | 30,644 | ||||||
Cipla | 3,825 | 44,424 | ||||||
Divi’s Laboratories | 1,255 | 57,693 | ||||||
Gland Pharma * | 726 | 24,837 | ||||||
Sun Pharmaceutical Industries | 8,278 | 87,065 | ||||||
TOTAL INDIA | 244,663 | |||||||
Indonesia — 2.6% | ||||||||
Consumer Staples — 0.4% | ||||||||
Industri Jamu Dan Farmasi Sido Muncul | 142,100 | 9,539 | ||||||
Health Care — 2.2% | ||||||||
Kalbe Farma | 224,700 | 25,038 | ||||||
Medikaloka Hermina | 71,800 | 7,253 | ||||||
Metro Healthcare Indonesia TBK * | 153,800 | 5,162 |
52
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Emerging Markets Healthcare Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Mitra Keluarga Karyasehat | 64,000 | $ | 11,814 | |||||
49,267 | ||||||||
TOTAL INDONESIA | 58,806 | |||||||
Malaysia — 3.6% | ||||||||
Health Care — 3.6% | ||||||||
Hartalega Holdings | 16,600 | 11,525 | ||||||
IHH Healthcare | 41,700 | 61,024 | ||||||
Top Glove | 38,700 | 9,132 | ||||||
TOTAL MALAYSIA | 81,681 | |||||||
South Africa — 1.4% | ||||||||
Health Care — 1.4% | ||||||||
Aspen Pharmacare Holdings | 2,114 | 17,942 | ||||||
Life Healthcare Group Holdings | 7,117 | 7,780 | ||||||
Netcare | 6,731 | 5,863 | ||||||
TOTAL SOUTH AFRICA | 31,585 | |||||||
South Korea — 17.8% | ||||||||
Health Care — 17.8% | ||||||||
Alteogen * | 200 | 9,411 | ||||||
Celltrion | 752 | 103,435 | ||||||
Celltrion Healthcare | 821 | 43,373 | ||||||
Celltrion Pharm * | 197 | 11,932 | ||||||
Daewoong | 282 | 5,918 | ||||||
Daewoong Pharmaceutical | 59 | 8,020 | ||||||
Green Cross | 64 | 8,306 | ||||||
Hanmi Pharm | 57 | 13,588 | ||||||
Hanmi Science | 308 | 9,500 | ||||||
Hugel * | 60 | 4,861 | ||||||
Samsung Biologics * | 158 | 96,134 | ||||||
Seegene | 243 | 6,766 | ||||||
Shin Poong Pharmaceutical * | 247 | 4,157 | ||||||
SillaJen * (A) | 261 | 1,216 | ||||||
SK Biopharmaceuticals * | 371 | 21,402 | ||||||
SK Bioscience * | 358 | 27,710 | ||||||
ST Pharm | 96 | 6,647 | ||||||
Yuhan | 380 | 16,394 | ||||||
TOTAL SOUTH KOREA | 398,770 | |||||||
Thailand — 4.5% | ||||||||
Health Care — 4.5% | ||||||||
Bangkok Chain Hospital | 12,100 | 6,400 | ||||||
Bangkok Dusit Medical Services, Cl F | 72,200 | 51,054 | ||||||
Bumrungrad Hospital | 3,600 | 18,226 | ||||||
Chularat Hospital, Cl F | 54,100 | 5,662 |
53
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Emerging Markets Healthcare Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Health Care — continued | ||||||||
Mega Lifesciences | 3,700 | $ | 5,285 | |||||
Ramkhamhaeng Hospital | 5,400 | 7,713 | ||||||
Thonburi Healthcare Group | 3,600 | 6,262 | ||||||
TOTAL THAILAND | 100,602 | |||||||
United Arab Emirates — 4.9% | ||||||||
Industrials — 4.9% | ||||||||
International Holding PJSC * | 1,396 | 108,697 | ||||||
TOTAL UNITED ARAB EMIRATES | 108,697 | |||||||
United States — 0.6% | ||||||||
Health Care — 0.6% | ||||||||
Legend Biotech ADR * | 232 | 12,760 | ||||||
TOTAL UNITED STATES | 12,760 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $3,034,202) | 2,240,628 | |||||||
TOTAL INVESTMENTS — 100.1% | ||||||||
(Cost $3,034,202) | 2,240,628 | |||||||
OTHER ASSETS LESS LIABILITIES – (0.1)% | (3,016 | ) | ||||||
NET ASSETS - 100% | $ | 2,237,612 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
(A) | Level 3 security in accordance with fair value hierarchy. |
ADR — American Depositary Receipt
Cl — Class
54
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Emerging Markets Healthcare Index ETF
The following summarizes the market value of the Fund’s investments used as of June 30, 2022, based on the inputs used to value them:
Investments in Securities | Level 1 | Level 2 | Level 3^ | Total | ||||||||||||
Common Stock | ||||||||||||||||
Brazil | $ | 118,734 | $ | — | $ | — | $ | 118,734 | ||||||||
China | ||||||||||||||||
Consumer Discretionary | 52,554 | — | — | 52,554 | ||||||||||||
Consumer Staples | 32,711 | — | — | 32,711 | ||||||||||||
Health Care | 965,586 | 11,100 | 6,525 | 983,211 | ||||||||||||
Hungary | 15,854 | — | — | 15,854 | ||||||||||||
India | 244,663 | — | — | 244,663 | ||||||||||||
Indonesia | 58,806 | — | — | 58,806 | ||||||||||||
Malaysia | 81,681 | — | — | 81,681 | ||||||||||||
South Africa | 31,585 | — | — | 31,585 | ||||||||||||
South Korea | ||||||||||||||||
Health Care | 294,119 | 103,435 | 1,216 | 398,770 | ||||||||||||
Thailand | 100,602 | — | — | 100,602 | ||||||||||||
United Arab Emirates | 108,697 | — | — | 108,697 | ||||||||||||
United States | 12,760 | — | — | 12,760 | ||||||||||||
Total Common Stock | 2,118,352 | 114,535 | 7,741 | 2,240,628 | ||||||||||||
Total Investments in Securities | $ | 2,118,352 | $ | 114,535 | $ | 7,741 | $ | 2,240,628 |
^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |
Amounts designated as “—” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-018-0600
55
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — 95.9% ‡ | ||||||||
Brazil — 5.3% | ||||||||
Communication Services — 0.1% | ||||||||
Telefonica Brasil | 3,200 | $ | 28,797 | |||||
Consumer Discretionary — 0.3% | ||||||||
Americanas * | 5,920 | 15,203 | ||||||
Lojas Renner * | 5,225 | 22,601 | ||||||
Magazine Luiza * | 25,600 | 11,455 | ||||||
49,259 | ||||||||
Consumer Staples — 0.6% | ||||||||
Ambev | 30,600 | 78,410 | ||||||
BRF * | 6,800 | 17,671 | ||||||
Raia Drogasil | 8,000 | 29,372 | ||||||
125,453 | ||||||||
Energy — 0.8% | ||||||||
Petroleo Brasileiro | 25,000 | 146,000 | ||||||
Ultrapar Participacoes | 4,800 | 11,299 | ||||||
157,299 | ||||||||
Financials — 0.8% | ||||||||
B3 - Brasil Bolsa Balcao | 33,800 | 70,839 | ||||||
Banco Bradesco | 8,688 | 23,890 | ||||||
Banco do Brasil | 5,600 | 35,745 | ||||||
Banco Santander Brasil | 2,400 | 13,222 | ||||||
BB Seguridade Participacoes | 4,000 | 19,857 | ||||||
163,553 | ||||||||
Industrials — 0.6% | ||||||||
CCR | 6,400 | 15,335 | ||||||
Localiza Rent a Car | 3,220 | 32,271 | ||||||
Rumo | 6,400 | 19,544 | ||||||
WEG | 9,600 | 48,556 | ||||||
115,706 | ||||||||
Materials — 1.9% | ||||||||
Klabin | 4,000 | 15,451 | ||||||
Suzano | 4,900 | 46,560 | ||||||
Vale | 21,100 | 308,907 | ||||||
370,918 | ||||||||
Utilities — 0.2% | ||||||||
Cia de Saneamento Basico do Estado de Sao Paulo * | 1,600 | 12,903 |
56
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Utilities — continued | ||||||||
Equatorial Energia | 4,000 | $ | 17,470 | |||||
30,373 | ||||||||
TOTAL BRAZIL | 1,041,358 | |||||||
Chile — 0.6% | ||||||||
Consumer Discretionary — 0.0% | ||||||||
Falabella | 4,144 | 9,510 | ||||||
Energy — 0.1% | ||||||||
Empresas Copec | 2,155 | 15,572 | ||||||
Financials — 0.3% | ||||||||
Banco de Chile | 368,014 | 32,800 | ||||||
Banco de Credito e Inversiones | 295 | 8,470 | ||||||
Banco Santander Chile | 367,019 | 14,514 | ||||||
55,784 | ||||||||
Materials — 0.1% | ||||||||
Empresas CMPC | 6,990 | 11,378 | ||||||
Utilities — 0.1% | ||||||||
Enel Americas | 157,546 | 14,647 | ||||||
Enel Chile | 155,527 | 3,445 | ||||||
18,092 | ||||||||
TOTAL CHILE | 110,336 | |||||||
Colombia — 0.1% | ||||||||
Energy — 0.1% | ||||||||
Ecopetrol | 26,813 | 14,518 | ||||||
Financials — 0.0% | ||||||||
Bancolombia | 1,240 | 9,995 | ||||||
TOTAL COLOMBIA | 24,513 | |||||||
Czech Republic — 0.3% | ||||||||
Financials — 0.1% | ||||||||
Komercni Banka | 402 | 11,256 |
57
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Utilities — 0.2% | ||||||||
CEZ | 857 | $ | 38,503 | |||||
TOTAL CZECH REPUBLIC | 49,759 | |||||||
Egypt — 0.1% | ||||||||
Financials — 0.1% | ||||||||
Commercial International Bank Egypt SAE | 9,712 | 19,259 | ||||||
TOTAL EGYPT | 19,259 | |||||||
Greece — 0.1% | ||||||||
Communication Services — 0.1% | ||||||||
Hellenic Telecommunications Organization | 1,282 | 22,208 | ||||||
TOTAL GREECE | 22,208 | |||||||
Hungary — 0.2% | ||||||||
Energy — 0.1% | ||||||||
MOL Hungarian Oil & Gas | 1,995 | 15,338 | ||||||
Financials — 0.1% | ||||||||
OTP Bank Nyrt | 1,223 | 27,139 | ||||||
TOTAL HUNGARY | 42,477 | |||||||
India — 18.1% | ||||||||
Communication Services — 0.5% | ||||||||
Bharti Airtel * | 12,385 | 107,419 | ||||||
Consumer Discretionary — 1.4% | ||||||||
Bajaj Auto | 453 | 21,262 | ||||||
Eicher Motors | 725 | 25,653 | ||||||
Mahindra & Mahindra | 4,043 | 55,964 | ||||||
Maruti Suzuki India | 685 | 73,474 | ||||||
Tata Motors * | 10,056 | 52,437 | ||||||
Titan | 1,721 | 42,305 | ||||||
271,095 | ||||||||
Consumer Staples — 1.5% | ||||||||
Dabur India | 2,903 | 18,231 | ||||||
Godrej Consumer Products * | 1,995 | 19,137 | ||||||
Hindustan Unilever | 5,024 | 141,904 | ||||||
ITC | 24,134 | 83,582 | ||||||
Nestle India | 131 | 28,979 | ||||||
291,833 | ||||||||
Energy — 2.9% | ||||||||
Bharat Petroleum | 4,197 | 16,390 | ||||||
Indian Oil | 18,104 | 17,021 | ||||||
Oil & Natural Gas | 14,270 | 27,384 |
58
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Energy — continued | ||||||||
Reliance Industries | 15,209 | $ | 499,886 | |||||
560,681 | ||||||||
Financials — 4.3% | ||||||||
Axis Bank | 15,288 | 123,276 | ||||||
Bajaj Finance | 1,401 | 95,807 | ||||||
Bajaj Finserv | 211 | 29,208 | ||||||
Housing Development Finance | 10,171 | 279,587 | ||||||
ICICI Bank | 25,776 | 230,824 | ||||||
Piramal Enterprises | 443 | 9,288 | ||||||
State Bank of India | 12,063 | 71,166 | ||||||
839,156 | ||||||||
Health Care — 0.6% | ||||||||
Aurobindo Pharma | 1,449 | 9,414 | ||||||
Dr Reddy’s Laboratories | 629 | 34,996 | ||||||
Sun Pharmaceutical Industries | 6,028 | 63,400 | ||||||
107,810 | ||||||||
Industrials — 0.3% | ||||||||
Larsen & Toubro | 3,217 | 63,476 | ||||||
Information Technology — 4.7% | ||||||||
HCL Technologies | 7,244 | 89,274 | ||||||
Infosys ADR | 25,407 | 470,284 | ||||||
Tata Consultancy Services | 6,028 | 249,379 | ||||||
Tech Mahindra | 4,158 | 52,651 | ||||||
Wipro | 10,055 | 52,973 | ||||||
914,561 | ||||||||
Materials — 1.4% | ||||||||
Asian Paints | 2,264 | 77,267 | ||||||
Grasim Industries | 1,819 | 30,421 | ||||||
Hindalco Industries | 11,226 | 48,139 | ||||||
JSW Steel | 4,759 | 34,018 | ||||||
UltraTech Cement | 645 | 45,797 | ||||||
UPL | 2,999 | 24,015 | ||||||
Vedanta | 7,309 | 20,639 | ||||||
280,296 | ||||||||
Utilities — 0.5% | ||||||||
GAIL India | 11,266 | 19,287 | ||||||
NTPC | 14,494 | 26,227 |
59
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Utilities — continued | ||||||||
Power Grid Corp of India | 17,165 | $ | 46,057 | |||||
91,571 | ||||||||
TOTAL INDIA | 3,527,898 | |||||||
Indonesia — 3.2% | ||||||||
Communication Services — 0.5% | ||||||||
Telkom Indonesia Persero | 369,800 | 99,292 | ||||||
Consumer Discretionary — 0.4% | ||||||||
Astra International | 160,700 | 71,464 | ||||||
Consumer Staples — 0.2% | ||||||||
Charoen Pokphand Indonesia | 50,600 | 20,379 | ||||||
Unilever Indonesia | 52,200 | 16,714 | ||||||
37,093 | ||||||||
Energy — 0.1% | ||||||||
United Tractors | 12,000 | 22,877 | ||||||
Financials — 2.0% | ||||||||
Bank Central Asia | 349,600 | 170,136 | ||||||
Bank Mandiri Persero | 144,600 | 76,922 | ||||||
Bank Negara Indonesia Persero | 53,800 | 28,349 | ||||||
Bank Rakyat Indonesia Persero | 401,700 | 111,902 | ||||||
387,309 | ||||||||
TOTAL INDONESIA | 618,035 | |||||||
Malaysia — 2.5% | ||||||||
Communication Services — 0.2% | ||||||||
DiGi.Com | 24,200 | 19,217 | ||||||
Maxis | 24,200 | 18,119 | ||||||
37,336 | ||||||||
Consumer Discretionary — 0.1% | ||||||||
Genting | 16,000 | 16,481 | ||||||
Consumer Staples — 0.1% | ||||||||
Sime Darby Plantation | 18,400 | 18,077 | ||||||
Financials — 1.4% | ||||||||
CIMB Group Holdings | 64,400 | 72,473 | ||||||
Hong Leong Bank | 4,000 | 18,568 | ||||||
Malayan Banking | 45,016 | 87,734 | ||||||
Public Bank | 104,400 | 103,512 | ||||||
282,287 | ||||||||
Health Care — 0.1% | ||||||||
IHH Healthcare | 16,000 | 23,415 |
60
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — 0.3% | ||||||||
Petronas Chemicals Group | 24,200 | $ | 49,416 | |||||
Utilities — 0.3% | ||||||||
Petronas Gas | 4,000 | 14,920 | ||||||
Tenaga Nasional | 29,800 | 53,954 | ||||||
68,874 | ||||||||
TOTAL MALAYSIA | 495,886 | |||||||
Mexico — 4.1% | ||||||||
Communication Services — 1.2% | ||||||||
America Movil | 199,400 | 203,099 | ||||||
Grupo Televisa | 16,000 | 26,178 | ||||||
229,277 | ||||||||
Consumer Staples — 1.2% | ||||||||
Fomento Economico Mexicano | 13,600 | 91,513 | ||||||
Grupo Bimbo, Ser A | 8,800 | 28,512 | ||||||
Wal-Mart de Mexico | 34,500 | 118,552 | ||||||
238,577 | ||||||||
Financials — 0.6% | ||||||||
Grupo Financiero Banorte, Cl O | 17,600 | 97,850 | ||||||
Grupo Financiero Inbursa, Cl O * | 12,000 | 19,044 | ||||||
116,894 | ||||||||
Industrials — 0.4% | ||||||||
Grupo Aeroportuario del Pacifico, Cl B | 3,500 | 48,589 | ||||||
Grupo Aeroportuario del Sureste, Cl B | 1,160 | 22,723 | ||||||
71,312 | ||||||||
Materials — 0.6% | ||||||||
Cemex * | 100,300 | 38,926 | ||||||
Grupo Mexico | 18,400 | 75,941 | ||||||
114,867 | ||||||||
Real Estate — 0.1% | ||||||||
Fibra Uno Administracion † | 22,600 | 22,437 | ||||||
TOTAL MEXICO | 793,364 | |||||||
Peru — 0.5% | ||||||||
Financials — 0.2% | ||||||||
Credicorp | 399 | 47,844 | ||||||
Materials — 0.3% | ||||||||
Cia de Minas Buenaventura SAA ADR | 4,581 | 30,234 |
61
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — continued | ||||||||
Southern Copper | 549 | $ | 27,346 | |||||
57,580 | ||||||||
TOTAL PERU | 105,424 | |||||||
Philippines — 1.2% | ||||||||
Financials — 0.2% | ||||||||
BDO Unibank | 16,870 | 33,903 | ||||||
Industrials — 0.4% | ||||||||
Ayala | 2,420 | 26,407 | ||||||
JG Summit | 29,545 | 26,168 | ||||||
SM Investments | 2,420 | 34,417 | ||||||
86,992 | ||||||||
Real Estate — 0.6% | ||||||||
Ayala Land | 82,500 | 38,261 | ||||||
SM Prime | 112,600 | 74,848 | ||||||
113,109 | ||||||||
Utilities — 0.0% | ||||||||
AC Energy | 9,960 | 1,456 | ||||||
TOTAL PHILIPPINES | 235,460 | |||||||
Poland — 1.0% | ||||||||
Communication Services — 0.0% | ||||||||
CD Projekt | 485 | 10,322 | ||||||
Consumer Discretionary — 0.1% | ||||||||
LPP | 11 | 22,008 | ||||||
Energy — 0.2% | ||||||||
Polski Koncern Naftowy Orlen | 2,253 | 34,337 | ||||||
Financials — 0.6% | ||||||||
Bank Polska Kasa Opieki | 1,329 | 24,104 | ||||||
Powszechna Kasa Oszczednosci Bank Polski | 6,635 | 41,322 | ||||||
Powszechny Zaklad Ubezpieczen | 4,824 | 32,168 | ||||||
Santander Bank Polska | 259 | 13,423 | ||||||
111,017 | ||||||||
Materials — 0.1% | ||||||||
KGHM Polska Miedz | 927 | 24,516 | ||||||
TOTAL POLAND | 202,200 | |||||||
Qatar — 1.7% | ||||||||
Financials — 1.4% | ||||||||
Masraf Al Rayan | 30,182 | 34,229 | ||||||
Qatar Islamic Bank | 8,852 | 54,083 |
62
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Financials — continued | ||||||||
Qatar National Bank | 31,377 | $ | 172,146 | |||||
260,458 | ||||||||
Industrials — 0.3% | ||||||||
Industries Qatar | 14,075 | 61,645 | ||||||
TOTAL QATAR | 322,103 | |||||||
Romania — 0.1% | ||||||||
Real Estate — 0.1% | ||||||||
NEPI Rockcastle | 2,163 | 11,499 | ||||||
TOTAL ROMANIA | 11,499 | |||||||
Russia — 0.0% | ||||||||
Communication Services — 0.0% | ||||||||
Mobile TeleSystems PJSC ADR (A)(B) | 3,839 | — | ||||||
Consumer Discretionary — 0.0% | ||||||||
X5 Retail Group GDR (A)(B) | 915 | — | ||||||
Consumer Staples — 0.0% | ||||||||
Magnit PJSC GDR (A)(B) | 2,616 | — | ||||||
Energy — 0.0% | ||||||||
Gazprom PJSC * (A)(B) | 89,700 | — | ||||||
LUKOIL PJSC (A)(B) | 3,729 | — | ||||||
Novatek PJSC GDR * (A)(B) | 756 | — | ||||||
Rosneft Oil PJSC (A)(B) | 10,270 | — | ||||||
Tatneft PJSC (A)(B) | 16,537 | — | ||||||
— | ||||||||
Financials — 0.0% | ||||||||
Sberbank of Russia PJSC * (A)(B) | 99,330 | — | ||||||
Materials — 0.0% | ||||||||
Alrosa PJSC (A)(B) | 18,910 | — | ||||||
MMC Norilsk Nickel PJSC (A)(B) | 670 | — | ||||||
Novolipetsk Steel PJSC (A)(B) | 8,860 | — | ||||||
Severstal PAO * (A)(B) | 1,512 | — | ||||||
— | ||||||||
TOTAL RUSSIA | — | |||||||
South Africa — 6.4% | ||||||||
Communication Services — 0.7% | ||||||||
MTN Group | 11,267 | 90,810 | ||||||
MultiChoice Group | 2,283 | 16,139 | ||||||
Vodacom Group | 3,417 | 27,350 | ||||||
134,299 |
63
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — 1.7% | ||||||||
Absa Group | 4,825 | $ | 45,533 | |||||
Mr Price Group | 1,303 | 14,107 | ||||||
Naspers, Cl N | 1,774 | 256,392 | ||||||
Woolworths Holdings | 5,287 | 17,508 | ||||||
333,540 | ||||||||
Consumer Staples — 0.6% | ||||||||
Bid | 2,253 | 42,194 | ||||||
Clicks Group | 1,353 | 22,572 | ||||||
Shoprite Holdings | 4,300 | 51,939 | ||||||
116,705 | ||||||||
Energy — 0.1% | ||||||||
Exxaro Resources | 1,398 | 16,912 | ||||||
Financials — 2.2% | ||||||||
Capitec Bank | 700 | 84,693 | ||||||
Discovery * | 4,799 | 37,525 | ||||||
FirstRand | 30,069 | 114,476 | ||||||
Nedbank Group | 3,042 | 38,491 | ||||||
Old Mutual | 26,530 | 17,862 | ||||||
Remgro | 2,852 | 22,616 | ||||||
Sanlam | 9,779 | 31,559 | ||||||
Standard Bank Group | 8,850 | 83,824 | ||||||
431,046 | ||||||||
Industrials — 0.5% | ||||||||
Bidvest Group | 1,803 | 23,067 | ||||||
Sasol * | 3,739 | 84,829 | ||||||
107,896 | ||||||||
Materials — 0.5% | ||||||||
Anglo American Platinum | 476 | 41,404 | ||||||
Gold Fields | 5,380 | 50,245 | ||||||
91,649 | ||||||||
Real Estate — 0.1% | ||||||||
Growthpoint Properties † | 16,091 | 12,130 | ||||||
TOTAL SOUTH AFRICA | 1,244,177 | |||||||
South Korea — 18.3% | ||||||||
Communication Services — 1.5% | ||||||||
Kakao | 1,722 | 92,704 | ||||||
NAVER | 845 | 156,192 | ||||||
NCSoft | 123 | 33,109 | ||||||
SK Telecom | 318 | 12,729 | ||||||
294,734 | ||||||||
Consumer Discretionary — 2.1% | ||||||||
Coway | 291 | 14,322 |
64
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Consumer Discretionary — continued | ||||||||
Hyundai Mobis | 461 | $ | 70,655 | |||||
Hyundai Motor | 1,007 | 139,990 | ||||||
Kangwon Land * | 653 | 12,774 | ||||||
Kia | 2,011 | 119,725 | ||||||
LG Electronics | 765 | 52,025 | ||||||
409,491 | ||||||||
Consumer Staples — 0.7% | ||||||||
Amorepacific | 286 | 28,635 | ||||||
E-MART | 107 | 8,694 | ||||||
KT&G | 1,131 | 71,602 | ||||||
LG H&H | 67 | 35,090 | ||||||
144,021 | ||||||||
Energy — 0.5% | ||||||||
HD Hyundai | 243 | 11,117 | ||||||
SK Innovation * | 429 | 63,474 | ||||||
S-Oil | 251 | 20,105 | ||||||
94,696 | ||||||||
Financials — 2.0% | ||||||||
DB Insurance | 275 | 12,983 | ||||||
Hana Financial Group | 2,412 | 73,099 | ||||||
Industrial Bank of Korea | 1,401 | 10,380 | ||||||
KB Financial Group | 2,878 | 106,728 | ||||||
Samsung Fire & Marine Insurance | 369 | 57,124 | ||||||
Samsung Life Insurance | 379 | 18,273 | ||||||
Shinhan Financial Group | 3,078 | 87,831 | ||||||
Woori Financial Group | 2,628 | 24,491 | ||||||
390,909 | ||||||||
Health Care — 0.9% | ||||||||
Celltrion | 336 | 46,236 | ||||||
Celltrion Healthcare | 999 | 52,783 | ||||||
Samsung Biologics * | 120 | 73,013 | ||||||
172,032 | ||||||||
Industrials — 1.3% | ||||||||
Hyundai Engineering & Construction | 435 | 13,853 | ||||||
Korea Shipbuilding & Offshore Engineering * | 211 | 15,260 | ||||||
LG | 878 | 52,677 | ||||||
Samsung C&T | 782 | 74,080 | ||||||
Samsung Heavy Industries * | 7,565 | 35,366 | ||||||
SK Holdings | 317 | 52,492 | ||||||
243,728 | ||||||||
Information Technology — 7.6% | ||||||||
LG Display | 1,191 | 13,347 | ||||||
Samsung Electro-Mechanics | 541 | 54,375 | ||||||
Samsung Electronics | 23,462 | 1,029,986 |
65
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
Samsung SDI | 363 | $ | 148,734 | |||||
Samsung SDS | 187 | 18,723 | ||||||
SK Hynix | 2,971 | 208,226 | ||||||
SK Square * | 581 | 17,479 | ||||||
1,490,870 | ||||||||
Materials — 1.4% | ||||||||
Hyundai Steel | 435 | 10,754 | ||||||
Korea Zinc | 43 | 16,145 | ||||||
LG Chemical | 323 | 128,364 | ||||||
Lotte Chemical | 99 | 13,725 | ||||||
POSCO Holdings | 549 | 97,462 | ||||||
266,450 | ||||||||
Utilities — 0.3% | ||||||||
Korea Electric Power * | 3,412 | 59,258 | ||||||
TOTAL SOUTH KOREA | 3,566,189 | |||||||
Taiwan — 27.2% | ||||||||
Communication Services — 1.4% | ||||||||
Chunghwa Telecom | 32,000 | 131,300 | ||||||
Far EasTone Telecommunications | 21,000 | 59,044 | ||||||
Taiwan Mobile | 21,000 | 76,278 | ||||||
266,622 | ||||||||
Consumer Staples — 0.7% | ||||||||
President Chain Store | 8,000 | 73,318 | ||||||
Uni-President Enterprises | 32,000 | 72,107 | ||||||
145,425 | ||||||||
Energy — 0.1% | ||||||||
Formosa Petrochemical | 8,000 | 25,238 | ||||||
Financials — 6.4% | ||||||||
Cathay Financial Holding | 48,000 | 82,170 | ||||||
Chailease Holding | 12,153 | 85,222 | ||||||
Chang Hwa Commercial Bank | 121,445 | 70,865 | ||||||
China Development Financial Holding | 148,000 | 73,170 | ||||||
CTBC Financial Holding | 96,000 | 81,040 | ||||||
E.Sun Financial Holding | 94,539 | 92,207 | ||||||
First Financial Holding | 98,255 | 86,578 | ||||||
Fubon Financial Holding | 52,800 | 106,191 | ||||||
Hua Nan Financial Holdings | 83,720 | 63,635 | ||||||
Mega Financial Holding | 65,000 | 77,169 | ||||||
Shanghai Commercial & Savings Bank | 51,000 | 91,079 | ||||||
Shin Kong Financial Holding | 246,000 | 72,476 | ||||||
SinoPac Financial Holdings | 56,000 | 31,641 | ||||||
Taishin Financial Holding | 166,411 | 91,227 | ||||||
Taiwan Cooperative Financial Holding | 86,052 | 77,707 |
66
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Financials — continued | ||||||||
Yuanta Financial Holding | 95,280 | $ | 63,128 | |||||
1,245,505 | ||||||||
Industrials — 0.4% | ||||||||
Far Eastern New Century | 70,000 | 74,865 | ||||||
Information Technology — 15.7% | ||||||||
ASE Technology Holding | 26,000 | 66,807 | ||||||
Asustek Computer | 8,000 | 83,542 | ||||||
AUO | 82,000 | 44,953 | ||||||
Catcher Technology | 8,000 | 44,529 | ||||||
Delta Electronics | 16,000 | 119,192 | ||||||
Hon Hai Precision Industry | 73,000 | 267,611 | ||||||
Innolux | 48,000 | 19,533 | ||||||
Lite-On Technology | 34,000 | 66,208 | ||||||
MediaTek | 8,000 | 175,156 | ||||||
Novatek Microelectronics | 8,000 | 81,255 | ||||||
Pegatron | 27,000 | 51,760 | ||||||
Quanta Computer | 24,000 | 64,412 | ||||||
Taiwan Semiconductor Manufacturing | 118,000 | 1,889,048 | ||||||
United Microelectronics | 64,000 | 84,268 | ||||||
3,058,274 | ||||||||
Materials — 2.5% | ||||||||
Asia Cement | 32,000 | 47,139 | ||||||
China Steel | 109,000 | 104,295 | ||||||
Formosa Chemicals & Fibre | 23,000 | 57,784 | ||||||
Formosa Plastics | 32,000 | 116,771 | ||||||
Nan Ya Plastics | 40,000 | 111,658 | ||||||
Taiwan Cement | 40,370 | 53,630 | ||||||
491,277 | ||||||||
TOTAL TAIWAN | 5,307,206 | |||||||
Tanzania — 0.2% | ||||||||
Materials — 0.2% | ||||||||
AngloGold Ashanti | 2,653 | 39,680 | ||||||
TOTAL TANZANIA | 39,680 | |||||||
Thailand — 2.5% | ||||||||
Communication Services — 0.2% | ||||||||
Advanced Info Service | 8,000 | 44,011 | ||||||
Consumer Staples — 0.3% | ||||||||
CP ALL | 40,300 | 68,392 | ||||||
68,392 | ||||||||
Energy — 0.7% | ||||||||
PTT | 83,900 | 80,684 |
67
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Energy — continued | ||||||||
PTT Exploration & Production | 11,500 | $ | 51,882 | |||||
132,566 | ||||||||
Financials — 0.3% | ||||||||
SCB X | 19,800 | 58,244 | ||||||
Health Care — 0.2% | ||||||||
Bangkok Dusit Medical Services, Cl F | 45,600 | 32,244 | ||||||
32,244 | ||||||||
Industrials — 0.4% | ||||||||
Airports of Thailand * | 34,900 | 70,086 | ||||||
70,086 | ||||||||
Materials — 0.3% | ||||||||
PTT Global Chemical | 18,400 | 23,680 | ||||||
Siam Cement | 4,200 | 44,429 | ||||||
68,109 | ||||||||
Real Estate — 0.1% | ||||||||
Central Pattana | 11,000 | 18,979 | ||||||
18,979 | ||||||||
TOTAL THAILAND | 492,631 | |||||||
Turkey — 0.4% | ||||||||
Consumer Staples — 0.2% | ||||||||
BIM Birlesik Magazalar | 5,626 | 27,243 | ||||||
Energy — 0.1% | ||||||||
Turkiye Petrol Rafinerileri * | 1,609 | 25,489 | ||||||
Financials — 0.1% | ||||||||
Akbank | 40,218 | 19,319 | ||||||
TOTAL TURKEY | 72,051 | |||||||
United Arab Emirates — 1.6% | ||||||||
Communication Services — 0.6% | ||||||||
Emirates Telecommunications Group PJSC | 16,889 | 120,008 | ||||||
Financials — 0.9% | ||||||||
Abu Dhabi Commercial Bank PJSC | 16,288 | 39,289 | ||||||
First Abu Dhabi Bank PJSC | 25,262 | 129,158 | ||||||
| 168,447 |
68
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Real Estate — 0.1% | ||||||||
Emaar Properties PJSC | 18,922 | $ | 26,788 | |||||
TOTAL UNITED ARAB EMIRATES | 315,243 | |||||||
United States — 0.2% | ||||||||
Consumer Staples — 0.2% | ||||||||
JBS | 4,800 | 28,996 | ||||||
TOTAL UNITED STATES | 28,996 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $23,826,215) | 18,687,952 | |||||||
PREFERRED STOCK — 3.8% | ||||||||
BRAZIL— 2.4% | ||||||||
Energy — 0.8% | ||||||||
Petroleo Brasileiro (C) | 27,400 | 146,341 | ||||||
Financials — 1.4% | ||||||||
Banco Bradesco (C) | 36,771 | 120,942 | ||||||
Itau Unibanco Holding * (C) | 26,200 | 113,579 | ||||||
Itausa * (C) | 30,220 | 48,195 | ||||||
282,716 | ||||||||
Materials — 0.1% | ||||||||
Gerdau (C) | 5,600 | 23,934 | ||||||
Utilities — 0.1% | ||||||||
Cia Energetica de Minas Gerais (C) | 7,025 | 13,943 | ||||||
TOTAL BRAZIL | 466,934 | |||||||
CHILE— 0.4% | ||||||||
Materials — 0.4% | ||||||||
Sociedad Quimica y Minera de Chile (C) | 1,017 | 83,043 | ||||||
COLOMBIA— 0.1% | ||||||||
Financials — 0.1% | ||||||||
Bancolombia (C) | 2,469 | 18,809 | ||||||
RUSSIA— 0.0% | ||||||||
Energy — 0.0% | ||||||||
Surgutneftegas PJSC (A)(B)(C) | 50,900 | — | ||||||
SOUTH KOREA— 0.9% | ||||||||
Information Technology — 0.9% | ||||||||
Samsung Electronics (C) | 4,414 | 176,778 | ||||||
TOTAL PREFERRED STOCK | ||||||||
(Cost $883,971) | 745,564 | |||||||
TOTAL INVESTMENTS — 99.7% | ||||||||
(Cost $24,710,186) | 19,433,516 | |||||||
OTHER ASSETS LESS LIABILITIES – 0.3% | 65,822 | |||||||
NET ASSETS - 100% | $ | 19,499,338 |
69
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
† | Real Estate Investment Trust |
(A) | Level 3 security in accordance with fair value hierarchy. |
(B) | Due to the financial uncertainty surrounding Russia and its markets, and the inability to liquidate the positions due to market closures and restrictions, the Russian securities have been determined to be worthless. |
(C) | Currently, no stated interest rate. |
ADR — American Depositary Receipt |
Cl — Class |
GDR — Global Depositary Receipt |
PJSC — Public Joint-Stock Company |
Ser — Series |
The following summarizes the market value of the Fund’s investments used as of June 30, 2022, based on the inputs used to value them:
Investments in Securities | Level 1 | Level 2 | Level 3^ | Total | ||||||||||||
Common Stock | ||||||||||||||||
Brazil | $ | 1,041,358 | $ | — | $ | — | $ | 1,041,358 | ||||||||
Chile | 110,336 | — | — | 110,336 | ||||||||||||
Colombia | 24,513 | — | — | 24,513 | ||||||||||||
Czech Republic | 49,759 | — | — | 49,759 | ||||||||||||
Egypt | 19,259 | — | — | 19,259 | ||||||||||||
Greece | 22,208 | — | — | 22,208 | ||||||||||||
Hungary | 42,477 | — | — | 42,477 | ||||||||||||
India | 3,527,898 | — | — | 3,527,898 | ||||||||||||
Indonesia | 618,035 | — | — | 618,035 | ||||||||||||
Malaysia | 495,886 | — | — | 495,886 | ||||||||||||
Mexico | 793,364 | — | — | 793,364 | ||||||||||||
Peru | 105,424 | — | — | 105,424 | ||||||||||||
Philippines | 235,460 | — | — | 235,460 | ||||||||||||
Poland | 202,200 | — | — | 202,200 | ||||||||||||
Qatar | 322,103 | — | — | 322,103 | ||||||||||||
Romania | 11,499 | — | — | 11,499 | ||||||||||||
Russia | ||||||||||||||||
Communication Services | — | — | — | ‡‡ | — | |||||||||||
Consumer Discretionary | — | — | — | ‡‡ | — | |||||||||||
Consumer Staples | — | — | — | ‡‡ | — | |||||||||||
Energy | — | — | — | ‡‡ | — | |||||||||||
Financials | — | — | — | ‡‡ | — | |||||||||||
Materials | — | — | — | ‡‡ | — | |||||||||||
South Africa | 1,244,177 | — | — | 1,244,177 | ||||||||||||
South Korea | ||||||||||||||||
Communication Services | 294,734 | — | — | 294,734 | ||||||||||||
Consumer Discretionary | 409,491 | — | — | 409,491 | ||||||||||||
Consumer Staples | 144,021 | — | — | 144,021 | ||||||||||||
Energy | 94,696 | — | — | 94,696 |
70
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI Emerging Markets ex China Index ETF
Financials | $ | 390,909 | $ | — | $ | — | $ | 390,909 | ||||||||
Health Care | 125,796 | 46,236 | — | 172,032 | ||||||||||||
Industrials | 243,728 | — | — | 243,728 | ||||||||||||
Information Technology | 1,490,870 | — | — | 1,490,870 | ||||||||||||
Materials | 266,450 | — | — | 266,450 | ||||||||||||
Utilities | 59,258 | — | — | 59,258 | ||||||||||||
Taiwan | 5,307,206 | — | — | 5,307,206 | ||||||||||||
Tanzania | 39,680 | — | — | 39,680 | ||||||||||||
Thailand | 492,631 | — | — | 492,631 | ||||||||||||
Turkey | 72,051 | — | — | 72,051 | ||||||||||||
United Arab Emirates | 315,243 | — | — | 315,243 | ||||||||||||
United States | 28,996 | — | — | 28,996 | ||||||||||||
Total Common Stock | 18,641,716 | 46,236 | — | 18,687,952 | ||||||||||||
Preferred Stock | ||||||||||||||||
Brazil | 466,934 | — | — | 466,934 | ||||||||||||
Chile | 83,043 | — | — | 83,043 | ||||||||||||
Colombia | 18,809 | — | — | 18,809 | ||||||||||||
Russia | ||||||||||||||||
Energy | — | — | — | ‡‡ | — | |||||||||||
South Korea | 176,778 | — | — | 176,778 | ||||||||||||
Total Preferred Stock | 745,564 | — | — | 745,564 | ||||||||||||
Total Investments in Securities | $ | 19,387,280 | $ | 46,236 | $ | — | $ | 19,433,516 |
^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. | |
# | Security or securities with a market value of $0. |
Amounts designated as “--” are $0 or have been rounded to $0.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-014-0700
71
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI China ESG Leaders ETF
Shares | Value | |||||||
COMMON STOCK — 99.0% ‡ | ||||||||
China — 97.9% | ||||||||
Communication Services — 17.0% | ||||||||
37 Interactive Entertainment Network Technology Group, Cl A | 1,300 | $ | 4,117 | |||||
Baidu, Cl A * | 16,450 | 311,309 | ||||||
NetEase | 14,000 | 257,093 | ||||||
Tencent Holdings | 13,600 | 614,231 | ||||||
1,186,750 | ||||||||
Consumer Discretionary — 31.0% | ||||||||
Alibaba Group Holding * | 42,836 | 610,855 | ||||||
Alibaba Health Information Technology * | 14,000 | 9,634 | ||||||
BYD, Cl A | 901 | 44,819 | ||||||
BYD, Cl H | 7,000 | 280,109 | ||||||
China Ruyi Holdings * | 36,000 | 13,213 | ||||||
Li Auto ADR * | 4,835 | 185,229 | ||||||
Meituan, Cl B * | 24,900 | 616,237 | ||||||
Ping An Healthcare and Technology * | 4,300 | 12,741 | ||||||
Pop Mart International Group | 4,800 | 23,183 | ||||||
Tongcheng Travel Holdings * | 10,400 | 22,372 | ||||||
Vipshop Holdings ADR * | 3,850 | 38,076 | ||||||
XPeng ADR, Cl A * | 3,628 | 115,153 | ||||||
Yadea Group Holdings | 10,000 | 19,574 | ||||||
Yum China Holdings | 3,652 | 177,122 | ||||||
2,168,317 | ||||||||
Consumer Staples — 4.0% | ||||||||
Angel Yeast, Cl A | 400 | 2,909 | ||||||
Anjoy Foods Group, Cl A | 200 | 5,008 | ||||||
By-health, Cl A | 900 | 2,906 | ||||||
China Feihe | 31,000 | 35,634 | ||||||
China Mengniu Dairy | 27,000 | 134,708 | ||||||
Dali Foods Group | 17,500 | 9,300 | ||||||
Henan Shuanghui Investment & Development, Cl A | 1,700 | 7,430 | ||||||
Inner Mongolia Yili Industrial Group, Cl A | 3,200 | 18,591 | ||||||
Jonjee Hi-Tech Industrial And Commercial Holding, Cl A | 300 | 1,549 | ||||||
Uni-President China Holdings | 11,000 | 9,434 | ||||||
Want Want China Holdings | 40,000 | 34,765 | ||||||
Yihai International Holding | 4,000 | 14,426 | ||||||
276,660 | ||||||||
Energy — 0.1% | ||||||||
China Suntien Green Energy, Cl H | 15,000 | 7,646 | ||||||
Financials — 13.2% | ||||||||
China Construction Bank, Cl H | 769,000 | 516,460 | ||||||
China Merchants Bank, Cl A | 10,500 | 66,093 | ||||||
China Merchants Bank, Cl H | 34,000 | 227,477 | ||||||
Far East Horizon | 13,000 | 10,901 | ||||||
Huatai Securities, Cl A | 3,800 | 8,049 | ||||||
Huatai Securities, Cl H | 13,200 | 19,580 |
72
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI China ESG Leaders ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Financials — continued | ||||||||
Orient Securities, Cl A | 3,800 | $ | 5,787 | |||||
Postal Savings Bank of China, Cl A | 13,600 | 10,934 | ||||||
Postal Savings Bank of China, Cl H | 68,000 | 53,988 | ||||||
919,269 | ||||||||
Health Care — 10.6% | ||||||||
3SBio | 12,500 | 9,940 | ||||||
CanSino Biologics, Cl A | 58 | 1,722 | ||||||
CanSino Biologics, Cl H | 1,000 | 10,240 | ||||||
China Medical System Holdings | 12,000 | 18,718 | ||||||
China Resources Sanjiu Medical & Pharmaceutical, Cl A | 500 | 3,356 | ||||||
CSPC Pharmaceutical Group | 77,800 | 77,236 | ||||||
Genscript Biotech * | 10,000 | 36,256 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings, Cl A | 800 | 3,770 | ||||||
Guangzhou Kingmed Diagnostics Group, Cl A | 300 | 3,694 | ||||||
Hansoh Pharmaceutical Group | 10,000 | 20,186 | ||||||
Huadong Medicine, Cl A | 900 | 6,063 | ||||||
Jafron Biomedical, Cl A | 400 | 3,036 | ||||||
Jinxin Fertility Group | 13,000 | 11,978 | ||||||
Joincare Pharmaceutical Group Industry, Cl A | 900 | 1,658 | ||||||
Livzon Pharmaceutical Group, Cl A | 200 | 1,080 | ||||||
Microport Scientific * | 5,400 | 15,656 | ||||||
Ovctek China, Cl A | 480 | 4,095 | ||||||
Pharmaron Beijing, Cl A | 450 | 6,391 | ||||||
Pharmaron Beijing, Cl H | 1,350 | 13,514 | ||||||
Shandong Weigao Group Medical Polymer, Cl H | 21,200 | 24,639 | ||||||
Shanghai Fosun Pharmaceutical Group, Cl A | 1,000 | 6,576 | ||||||
Shanghai Fosun Pharmaceutical Group, Cl H | 4,500 | 16,659 | ||||||
Shanghai Pharmaceuticals Holding, Cl A | 1,400 | 3,776 | ||||||
Shanghai Pharmaceuticals Holding, Cl H | 6,700 | 11,100 | ||||||
Shenzhen Mindray Bio-Medical Electronics, Cl A | 600 | 28,030 | ||||||
Sinopharm Group, Cl H | 11,200 | 27,147 | ||||||
Topchoice Medical, Cl A * | 200 | 5,204 | ||||||
WuXi AppTec, Cl A | 1,320 | 20,475 | ||||||
WuXi AppTec, Cl H | 3,500 | 46,610 | ||||||
Wuxi Biologics Cayman * | 32,000 | 292,802 | ||||||
Yunnan Baiyao Group, Cl A | 1,020 | 9,188 | ||||||
Zhejiang Jiuzhou Pharmaceutical, Cl A | 400 | 3,085 | ||||||
743,880 | ||||||||
Industrials — 6.6% | ||||||||
Air China, Cl A * | 3,400 | 5,888 | ||||||
Air China, Cl H * | 16,000 | 13,906 | ||||||
Beijing Capital International Airport, Cl H * | 18,000 | 12,272 | ||||||
Beijing Easpring Material Technology, Cl A | 300 | 4,042 | ||||||
China Baoan Group, Cl A | 1,300 | 2,616 | ||||||
China Communications Services, Cl H | 20,000 | 8,793 | ||||||
China Conch Venture Holdings | 14,000 | 30,509 | ||||||
China Eastern Airlines, Cl A * | 4,600 | 3,767 |
73
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI China ESG Leaders ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Industrials — continued | ||||||||
China Everbright Environment Group | 31,000 | $ | 18,291 | |||||
China Lesso Group Holdings | 10,000 | 15,089 | ||||||
China Southern Airlines, Cl A * | 5,600 | 6,106 | ||||||
China Southern Airlines, Cl H * | 16,000 | 9,257 | ||||||
CITIC | 49,000 | 49,643 | ||||||
Contemporary Amperex Technology, Cl A * | 1,300 | 103,547 | ||||||
Eve Energy, Cl A | 900 | 13,089 | ||||||
Fosun International | 21,000 | 19,402 | ||||||
Gotion High-tech, Cl A | 900 | 6,121 | ||||||
Jiangsu Zhongtian Technology, Cl A | 1,700 | 5,857 | ||||||
Keda Industrial Group | 900 | 2,771 | ||||||
Ming Yang Smart Energy Group, Cl A | 1,000 | 5,042 | ||||||
SF Holding, Cl A | 2,500 | 20,812 | ||||||
Shanghai Construction Group, Cl A | 4,500 | 2,034 | ||||||
Shanghai Electric Group, Cl A * | 6,500 | 3,985 | ||||||
Shanghai M&G Stationery, Cl A | 500 | 4,182 | ||||||
Shenzhen Inovance Technology, Cl A | 1,350 | 13,264 | ||||||
Shenzhen International Holdings | 12,413 | 12,212 | ||||||
Sinotrans, Cl A | 2,200 | 1,273 | ||||||
Sinotruk Hong Kong | 6,000 | 8,411 | ||||||
Sungrow Power Supply, Cl A | 800 | 11,724 | ||||||
Titan Wind Energy Suzhou, Cl A | 900 | 2,214 | ||||||
Xinjiang Goldwind Science & Technology, Cl A | 1,800 | 3,974 | ||||||
Xinjiang Goldwind Science & Technology, Cl H | 6,600 | 12,347 | ||||||
Zhejiang Chint Electrics, Cl A | 1,100 | 5,871 | ||||||
Zhejiang Expressway, Cl H | 12,000 | 11,072 | ||||||
Zhejiang Weixing New Building Materials, Cl A | 800 | 2,869 | ||||||
Zoomlion Heavy Industry Science and Technology, Cl A | 3,600 | 3,308 | ||||||
Zoomlion Heavy Industry Science and Technology, Cl H | 12,200 | 6,514 | ||||||
462,074 | ||||||||
Information Technology — 2.9% | ||||||||
AAC Technologies Holdings | 6,500 | 14,960 | ||||||
Kingdee International Software Group * | 24,000 | 56,277 | ||||||
Lenovo Group | 62,000 | 57,915 | ||||||
Unisplendour, Cl A | 1,451 | 4,199 | ||||||
Xinyi Solar Holdings | 44,000 | 67,960 | ||||||
201,311 | ||||||||
Materials — 2.6% | ||||||||
Baoshan Iron & Steel, Cl A | 11,400 | 10,237 | ||||||
BBMG, Cl A | 4,200 | 1,735 | ||||||
Chengtun Mining Group, Cl A | 1,400 | 1,621 | ||||||
Chengxin Lithium Group, Cl A | 400 | 3,601 | ||||||
China Jushi, Cl A | 2,086 | 5,417 | ||||||
China Resources Cement Holdings | 20,000 | 13,432 | ||||||
CMOC Group, Cl A | 9,000 | 7,692 | ||||||
CMOC Group, Cl H | 36,000 | 20,094 | ||||||
Ganfeng Lithium, Cl A | 600 | 13,308 |
74
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI China ESG Leaders ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Materials — continued | ||||||||
Ganfeng Lithium, Cl H | 3,080 | $ | 33,893 | |||||
GEM, Cl A | 2,400 | 3,258 | ||||||
Huaxin Cement, Cl A | 700 | 2,037 | ||||||
Jiangsu Eastern Shenghong, Cl A | 2,000 | 5,045 | ||||||
Kingfa Sci & Tech, Cl A | 1,300 | 1,846 | ||||||
Shandong Nanshan Aluminum, Cl A | 6,100 | 3,358 | ||||||
Shanghai Putailai New Energy Technology, Cl A | 700 | 8,812 | ||||||
Sichuan Yahua Industrial Group, Cl A | 500 | 2,435 | ||||||
Sinopec Shanghai Petrochemical, Cl A | 3,700 | 1,755 | ||||||
Skshu Paint, Cl A * | 240 | 4,633 | ||||||
Suzhou TA&A Ultra Clean Technology, Cl A | 200 | 2,607 | ||||||
Transfar Zhilian, Cl A | 1,500 | 1,439 | ||||||
Youngy, Cl A * | 100 | 2,293 | ||||||
Yunnan Energy New Material, Cl A | 400 | 14,943 | ||||||
Yunnan Tin, Cl A | 800 | 2,001 | ||||||
Zhejiang Huayou Cobalt, Cl A | 780 | 11,125 | ||||||
Zhejiang Yongtai Technology, Cl A | 400 | 1,965 | ||||||
180,582 | ||||||||
Real Estate — 6.4% | ||||||||
A-Living Smart City Services, Cl H | 5,250 | 8,443 | ||||||
China Overseas Land & Investment | 33,000 | 104,296 | ||||||
China Resources Mixc Lifestyle Services | 5,800 | 28,753 | ||||||
China Vanke, Cl A | 5,000 | 15,289 | ||||||
China Vanke, Cl H | 14,600 | 36,691 | ||||||
CIFI Ever Sunshine Services Group | 6,000 | 7,646 | ||||||
CIFI Holdings Group | 33,280 | 16,710 | ||||||
Country Garden Services Holdings | 18,000 | 80,171 | ||||||
Greentown Service Group | 14,000 | 15,843 | ||||||
Hopson Development Holdings | 6,743 | 10,295 | ||||||
Jinke Properties Group, Cl A * | 2,700 | 1,152 | ||||||
Logan Group (A) | 14,000 | 3,889 | ||||||
Longfor Group Holdings | 16,000 | 75,545 | ||||||
Shimao Group Holdings (A) | 12,500 | 6,850 | ||||||
Wharf Holdings | 10,000 | 36,447 | ||||||
448,020 | ||||||||
Utilities — 3.5% | ||||||||
Beijing Enterprises Water Group | 36,000 | 10,873 | ||||||
CECEP Solar Energy, Cl A * | 1,500 | 1,868 | ||||||
CECEP Wind-Power, Cl A | 2,600 | 1,862 | ||||||
China Gas Holdings | 26,200 | 40,467 | ||||||
China Resources Gas Group | 8,000 | 37,263 | ||||||
China Three Gorges Renewables Group, Cl A | 14,600 | 13,698 | ||||||
ENN Energy Holdings | 6,800 | 111,702 | ||||||
ENN Natural Gas, Cl A | 1,200 | 3,327 |
75
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI China ESG Leaders ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Utilities — continued | ||||||||
Kunlun Energy | 32,000 | $ | 26,222 | |||||
247,282 | ||||||||
TOTAL CHINA | 6,841,791 | |||||||
Hong Kong — 0.9% | ||||||||
Consumer Staples — 0.1% | ||||||||
Vinda International Holdings | 3,000 | 7,684 | ||||||
Health Care — 0.8% | ||||||||
Sino Biopharmaceutical | 89,000 | 56,370 | ||||||
TOTAL HONG KONG | 64,054 | |||||||
Singapore — 0.2% | ||||||||
Industrials — 0.2% | ||||||||
BOC Aviation | 1,800 | 15,128 | ||||||
TOTAL SINGAPORE | 15,128 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $7,886,893) | 6,920,973 | |||||||
TOTAL INVESTMENTS — 99.0% | ||||||||
(Cost $7,886,893) | 6,920,973 | |||||||
OTHER ASSETS LESS LIABILITIES – 1.0% | 71,847 | |||||||
NET ASSETS - 100% | $ | 6,992,820 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
(A) | Level 3 security in accordance with fair value hierarchy. |
ADR — American Depositary Receipt |
Cl — Class |
76
Schedule of Investments (Unaudited) June 30, 2022
KraneShares MSCI China ESG Leaders ETF
The following summarizes the market value of the Fund’s investments used as of June 30, 2022, based on the inputs used to value them:
Investments in Securities | Level 1 | Level 2 | Level 3^ | Total | ||||||||||||
Common Stock | ||||||||||||||||
China | ||||||||||||||||
Communication Services | $ | 1,186,750 | $ | — | $ | — | $ | 1,186,750 | ||||||||
Consumer Discretionary | 2,168,317 | — | — | 2,168,317 | ||||||||||||
Consumer Staples | 276,660 | — | — | 276,660 | ||||||||||||
Energy | 7,646 | — | — | 7,646 | ||||||||||||
Financials | 919,269 | — | — | 919,269 | ||||||||||||
Health Care | 743,880 | — | — | 743,880 | ||||||||||||
Industrials | 462,074 | — | — | 462,074 | ||||||||||||
Information Technology | 201,311 | — | — | 201,311 | ||||||||||||
Materials | 180,582 | — | — | 180,582 | ||||||||||||
Real Estate | 437,281 | — | 10,739 | 448,020 | ||||||||||||
Utilities | 247,282 | — | — | 247,282 | ||||||||||||
Hong Kong | 64,054 | — | — | 64,054 | ||||||||||||
Singapore | 15,128 | — | — | 15,128 | ||||||||||||
Total Common Stock | 6,910,234 | — | 10,739 | 6,920,973 | ||||||||||||
Total Investments in Securities | $ | 6,910,234 | $ | — | $ | 10,739 | $ | 6,920,973 | ||||||||
^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-021-0300
77
Schedule of Investments (Unaudited) June 30, 2022
KraneShares CICC China 5G & Semiconductor Index ETF
Shares | Value | |||||||
COMMON STOCK — 99.5% ‡ | ||||||||
China — 99.5% | ||||||||
Industrials — 4.7% | ||||||||
Ginlong Technologies, Cl A | 16,400 | $ | 521,047 | |||||
Sunwoda Electronic, Cl A | 82,600 | 389,332 | ||||||
910,379 | ||||||||
Information Technology — 94.8% | ||||||||
Advanced Micro-Fabrication Equipment China, Cl A * | 24,714 | 430,381 | ||||||
Avary Holding Shenzhen, Cl A | 99,085 | 446,490 | ||||||
BOE Technology Group, Cl A | 1,479,830 | 869,683 | ||||||
Chaozhou Three-Circle Group, Cl A | 86,064 | 386,403 | ||||||
China Resources Microelectronics, Cl A | 49,951 | 440,113 | ||||||
Foxconn Industrial Internet, Cl A | 776,374 | 1,139,513 | ||||||
Gigadevice Semiconductor Beijing, Cl A | 25,500 | 540,908 | ||||||
GoerTek, Cl A | 155,222 | 777,939 | ||||||
Hangzhou Silan Microelectronics, Cl A | 55,600 | 431,252 | ||||||
Hua Hong Semiconductor * | 56,000 | 202,678 | ||||||
Luxshare Precision Industry, Cl A | 342,905 | 1,728,284 | ||||||
Maxscend Microelectronics, Cl A | 23,669 | 476,610 | ||||||
Montage Technology, Cl A | 45,411 | 410,339 | ||||||
National Silicon Industry Group, Cl A * | 95,067 | 325,861 | ||||||
NAURA Technology Group, Cl A | 20,518 | 848,117 | ||||||
SG Micro, Cl A | 12,600 | 342,092 | ||||||
Shenzhen Transsion Holdings, Cl A | 40,085 | 533,514 | ||||||
StarPower Semiconductor, Cl A | 5,729 | 329,767 | ||||||
Sunny Optical Technology Group | 57,600 | 938,841 | ||||||
TCL Zhonghuan Renewable Energy Technology, Cl A | 127,600 | 1,120,844 | ||||||
Unigroup Guoxin Microelectronics, Cl A | 22,900 | 648,040 | ||||||
Will Semiconductor Shanghai, Cl A | 38,671 | 998,067 | ||||||
Wingtech Technology, Cl A | 60,455 | 767,478 | ||||||
Xiaomi, Cl B * | 739,200 | 1,284,918 | ||||||
Yealink Network Technology, Cl A | 31,880 | 362,111 | ||||||
Zhejiang Dahua Technology, Cl A | 122,911 | 301,035 | ||||||
Zhejiang Jingsheng Mechanical & Electrical, Cl A | 50,020 | 504,289 | ||||||
ZTE, Cl H | 339,200 | 790,189 | ||||||
18,375,756 | ||||||||
TOTAL CHINA | 19,286,135 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $22,057,373) | 19,286,135 | |||||||
TOTAL INVESTMENTS — 99.5% | ||||||||
(Cost $22,057,373) | 19,286,135 | |||||||
OTHER ASSETS LESS LIABILITIES – 0.5% | 92,559 | |||||||
NET ASSETS - 100% | $ | 19,378,694 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
Cl — Class |
78
Schedule of Investments (Unaudited) June 30, 2022
KraneShares CICC China 5G & Semiconductor Index ETF
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-022-0300
79
Schedule of Investments (Unaudited) June 30, 2022
KraneShares CICC China Consumer Leaders Index ETF
Shares | Value | |||||||
COMMON STOCK — 95.8% ‡ | ||||||||
China — 95.8% | ||||||||
Consumer Discretionary — 33.7% | ||||||||
ANTA Sports Products | 25,000 | $ | 307,126 | |||||
China Tourism Group Duty Free, Cl A | 16,300 | 566,325 | ||||||
Ecovacs Robotics, Cl A | 3,533 | 64,234 | ||||||
Gree Electric Appliances of Zhuhai, Cl A | 76,700 | 385,777 | ||||||
Haidilao International Holding * | 23,000 | 53,639 | ||||||
Haier Smart Home, Cl A | 78,500 | 321,531 | ||||||
Hangzhou Robam Appliances, Cl A | 9,900 | 53,205 | ||||||
Li Ning | 46,500 | 430,811 | ||||||
Midea Group, Cl A | 75,865 | 683,376 | ||||||
Oppein Home Group, Cl A | 3,200 | 71,921 | ||||||
Zhejiang Supor, Cl A | 3,400 | 28,572 | ||||||
2,966,517 | ||||||||
Consumer Staples — 61.7% | ||||||||
Anhui Gujing Distillery, Cl A | 3,000 | 111,718 | ||||||
China Mengniu Dairy | 64,000 | 319,309 | ||||||
Chongqing Brewery, Cl A | 4,036 | 88,255 | ||||||
Dali Foods Group | 41,500 | 22,054 | ||||||
Foshan Haitian Flavouring & Food, Cl A | 24,156 | 325,577 | ||||||
Henan Shuanghui Investment & Development, Cl A | 21,235 | 92,805 | ||||||
Hengan International Group | 13,000 | 61,049 | ||||||
Inner Mongolia Yili Industrial Group, Cl A | 85,300 | 495,575 | ||||||
Jiangsu King’s Luck Brewery JSC, Cl A | 10,500 | 79,875 | ||||||
Jiangsu Yanghe Brewery JSC, Cl A | 11,017 | 300,970 | ||||||
Kweichow Moutai, Cl A | 4,200 | 1,281,137 | ||||||
Luzhou Laojiao, Cl A | 12,500 | 459,675 | ||||||
Muyuan Foods, Cl A | 43,992 | 362,674 | ||||||
Shanxi Xinghuacun Fen Wine Factory, Cl A | 8,800 | 426,336 | ||||||
Sichuan Swellfun, Cl A | 4,100 | 56,593 | ||||||
Want Want China Holdings | 92,000 | 79,960 | ||||||
Wuliangye Yibin, Cl A | 29,000 | 873,478 | ||||||
5,437,040 | ||||||||
Materials — 0.4% | ||||||||
Huafon Chemical, Cl A | 28,700 | 36,131 | ||||||
TOTAL CHINA | 8,439,688 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $7,804,927) | 8,439,688 | |||||||
TOTAL INVESTMENTS — 95.8% | ||||||||
(Cost $7,804,927) | 8,439,688 | |||||||
OTHER ASSETS LESS LIABILITIES – 4.2% | 368,246 | |||||||
NET ASSETS - 100% | $ | 8,807,934 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
Cl — Class |
JSC — Joint-Stock Company |
80
Schedule of Investments (Unaudited) June 30, 2022
KraneShares CICC China Consumer Leaders Index ETF
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-023-0300
81
Schedule of Investments (Unaudited) June 30, 2022
KraneShares SSE STAR Market 50 Index ETF
Shares | Value | |||||||
COMMON STOCK — 99.6% ‡ | ||||||||
China — 99.6% | ||||||||
Consumer Discretionary — 7.5% | ||||||||
Autel Intelligent Technology, Cl A | 127,755 | $ | 627,322 | |||||
Beijing Roborock Technology, Cl A | 15,772 | 1,450,821 | ||||||
Chengdu XGimi Technology, Cl A | 19,831 | 910,669 | ||||||
Ninebot * | 168,830 | 1,120,631 | ||||||
Tianneng Battery Group, Cl A | 59,670 | 307,776 | ||||||
4,417,219 | ||||||||
Health Care — 12.2% | ||||||||
Bloomage Biotechnology, Cl A | 45,431 | 963,483 | ||||||
CanSino Biologics, Cl A | 32,517 | 965,586 | ||||||
Changchun BCHT Biotechnology, Cl A | 17,544 | 173,629 | ||||||
Micro-Tech Nanjing, Cl A | 35,366 | 459,995 | ||||||
Qingdao Haier Biomedical, Cl A | 89,827 | 975,821 | ||||||
Sansure Biotech, Cl A | 138,927 | 613,589 | ||||||
Shandong Weigao Orthopaedic Device, Cl A | 16,998 | 122,182 | ||||||
Shanghai Junshi Biosciences, Cl A * | 163,244 | 1,834,492 | ||||||
Shanghai Medicilon, Cl A | 20,520 | 1,039,477 | ||||||
7,148,254 | ||||||||
Industrials — 13.8% | ||||||||
Guangdong Jia Yuan Technology Shares, Cl A | 77,407 | 979,913 | ||||||
Jiangsu GoodWe Power Supply Technology, Cl A | 29,086 | 1,358,004 | ||||||
Ningbo Ronbay New Energy Technology, Cl A | 126,930 | 2,450,676 | ||||||
Pylon Technologies, Cl A | 36,557 | 1,702,380 | ||||||
Zhejiang HangKe Technology, Cl A | 57,331 | 599,118 | ||||||
Zhuhai CosMX Battery, Cl A | 52,971 | 242,566 | ||||||
Zhuzhou CRRC Times Electric, Cl A | 82,055 | 795,435 | ||||||
8,128,092 | ||||||||
Information Technology — 56.3% | ||||||||
3peak, Cl A | 18,943 | 1,586,796 | ||||||
Advanced Micro-Fabrication Equipment China, Cl A * | 174,584 | 3,040,285 | ||||||
Amlogic Shanghai, Cl A * | 116,472 | 1,754,672 | ||||||
Beijing Kingsoft Office Software, Cl A | 87,068 | 2,560,014 | ||||||
Bestechnic Shanghai, Cl A | 33,996 | 697,749 | ||||||
Cambricon Technologies, Cl A * | 94,627 | 913,214 | ||||||
China Railway Signal & Communication, Cl A | 1,221,180 | 825,146 | ||||||
China Resources Microelectronics, Cl A | 249,324 | 2,196,768 | ||||||
Everdisplay Optronics Shanghai, Cl A * | 1,311,658 | 524,335 | ||||||
GalaxyCore, Cl A * | 94,392 | 288,771 | ||||||
Jinko Solar, Cl A | 661,040 | 1,472,111 | ||||||
Montage Technology, Cl A | 213,955 | 1,933,324 | ||||||
National Silicon Industry Group, Cl A * | 513,779 | 1,761,081 | ||||||
OPT Machine Vision Tech, Cl A | 11,683 | 450,734 | ||||||
Qi An Xin Technology Group, Cl A * | 128,824 | 1,072,220 | ||||||
Raytron Technology, Cl A | 126,360 | 748,638 | ||||||
Shanghai Friendess Electronic Technology, Cl A | 20,625 | 676,951 |
82
Schedule of Investments (Unaudited) June 30, 2022
KraneShares SSE STAR Market 50 Index ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Information Technology — continued | ||||||||
Shenzhen Transsion Holdings, Cl A | 113,561 | $ | 1,511,448 | |||||
Trina Solar, Cl A | 511,737 | 4,980,585 | ||||||
Verisilicon Microelectronics Shanghai, Cl A * | 117,072 | 862,647 | ||||||
Xinjiang Daqo New Energy, Cl A | 99,982 | 1,018,879 | ||||||
Zhejiang Supcon Technology, Cl A | 140,751 | 1,527,556 | ||||||
ZWSOFT Guangzhou, Cl A | 20,463 | 639,206 | ||||||
33,043,130 | ||||||||
Materials — 9.8% | ||||||||
Cathay Biotech, Cl A | 59,024 | 984,291 | ||||||
Hunan Changyuan Lico, Cl A | 182,183 | 543,489 | ||||||
Jiangsu Cnano Technology, Cl A | 87,722 | 2,217,584 | ||||||
Suzhou Nanomicro Technology, Cl A | 18,894 | 227,741 | ||||||
Western Superconducting Technologies, Cl A | 131,466 | 1,807,996 | ||||||
5,781,101 | ||||||||
TOTAL CHINA | 58,517,796 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $67,967,879) | 58,517,796 | |||||||
TOTAL INVESTMENTS — 99.6% | ||||||||
(Cost $67,967,879) | 58,517,796 | |||||||
OTHER ASSETS LESS LIABILITIES – 0.4% | 229,521 | |||||||
NET ASSETS - 100% | $ | 58,747,317 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
Cl — Class |
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-024-0300
83
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Hang Seng TECH Index ETF
Shares | Value | |||||||
COMMON STOCK — 99.8% ‡ | ||||||||
China — 99.8% | ||||||||
Communication Services — 29.7% | ||||||||
Baidu, Cl A * | 14,050 | $ | 265,890 | |||||
Bilibili, Cl Z * | 2,760 | 70,698 | ||||||
China Literature * | 13,800 | 66,653 | ||||||
Kingsoft | 27,200 | 106,069 | ||||||
Kuaishou Technology, Cl B * | 44,300 | 493,417 | ||||||
NetEase | 18,500 | 339,731 | ||||||
Tencent Holdings | 9,700 | 438,091 | ||||||
1,780,549 | ||||||||
Consumer Discretionary — 42.2% | ||||||||
Alibaba Group Holding * | 34,800 | 496,259 | ||||||
Alibaba Health Information Technology * | 134,000 | 92,214 | ||||||
Haier Smart Home, Cl H | 79,200 | 293,204 | ||||||
JD Health International * | 34,650 | 271,788 | ||||||
JD.com, Cl A * | 15,510 | 499,660 | ||||||
Li Auto, Cl A * | 9,900 | 192,904 | ||||||
Meituan, Cl B * | 19,200 | 475,171 | ||||||
NIO, Cl A * | 1,730 | 37,921 | ||||||
Ping An Healthcare and Technology * | 15,000 | 44,444 | ||||||
Trip.com Group * | 1,550 | 43,772 | ||||||
XPeng, Cl A * | 4,900 | 78,930 | ||||||
2,526,267 | ||||||||
Financials — 1.2% | ||||||||
ZhongAn Online P&C Insurance, Cl H * | 21,400 | 69,679 | ||||||
Information Technology — 26.7% | ||||||||
AAC Technologies Holdings | 23,000 | 52,935 | ||||||
BYD Electronic International | 25,000 | 78,852 | ||||||
GDS Holdings, Cl A * | 7,100 | 29,904 | ||||||
Hua Hong Semiconductor * | 18,000 | 65,146 | ||||||
Kingdee International Software Group * | 74,000 | 173,520 | ||||||
Lenovo Group | 228,000 | 212,980 | ||||||
Ming Yuan Cloud Group Holdings | 29,000 | 46,418 | ||||||
SenseTime Group, Cl B * | 31,000 | 12,365 | ||||||
Sunny Optical Technology Group | 23,000 | 374,885 | ||||||
Xiaomi, Cl B * | 317,000 | 551,027 | ||||||
1,598,032 | ||||||||
TOTAL CHINA | 5,974,527 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $6,929,734) | 5,974,527 | |||||||
TOTAL INVESTMENTS — 99.8% | ||||||||
(Cost $6,929,734) | 5,974,527 | |||||||
OTHER ASSETS LESS LIABILITIES – 0.2% | 11,012 | |||||||
NET ASSETS - 100% | $ | 5,985,539 |
84
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Hang Seng TECH Index ETF
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
Cl — Class
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-028-0300
85
Schedule of Investments (Unaudited) June 30, 2022
KraneShares China Innovation ETF
Shares | Value | |||||||
EXCHANGE - TRADED FUNDS — 102.4% | ||||||||
KraneShares CICC China 5G and Semiconductor Index ETF * † | 14,716 | $ | 287,106 | |||||
KraneShares CSI China Internet ETF * † | 18,816 | 616,412 | ||||||
KraneShares MSCI All China Health Care Index ETF * † | 21,717 | 507,743 | ||||||
KraneShares MSCI China Clean Technology Index ETF † | 11,016 | 459,037 | ||||||
KraneShares SSE STAR Market 50 Index ETF * † | 11,005 | 200,071 | ||||||
TOTAL EXCHANGE - TRADED FUNDS | ||||||||
(Cost $2,659,761) | 2,070,369 | |||||||
TOTAL INVESTMENTS — 102.4% | ||||||||
(Cost $2,659,761) | 2,070,369 | |||||||
OTHER ASSETS LESS LIABILITIES – (2.4)% | (47,854 | ) | ||||||
NET ASSETS - 100% | $ | 2,022,515 |
* | Non-income producing security. |
† | Affiliated Investment. |
ETF — Exchange-Traded Fund
MSCI — Morgan Stanley Capital International
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
Transactions with affiliated companies during the period ended June 30, 2022 are as follows:
Value of Shares | Purchase at Cost | Proceeds from Sales | Change in (Depreciation) | Realized Gain(Loss) | Value of Shares Held as of 6/30/2022 | Balance of Shares Held as of 6/30/2022 | Dividend Income | |||||||||||||||||||||||
KraneShares CICC China 5G and Semiconductor Index ETF | ||||||||||||||||||||||||||||||
$ | 433,558 | $ | 8,989 | $ | (151,279 | ) | $ | 2,700 | $ | (6,862 | ) | $ | 287,106 | 14,716 | $ | — | ||||||||||||||
KraneShares CSI China Internet ETF | ||||||||||||||||||||||||||||||
759,535 | 9,011 | (272,939 | ) | 101,721 | 19,084 | 616,412 | 18,816 | — | ||||||||||||||||||||||
KraneShares MSCI All China Health Care Index ETF | ||||||||||||||||||||||||||||||
696,487 | 9,033 | (199,202 | ) | 7,031 | (5,606 | ) | 507,743 | 21,717 | — | |||||||||||||||||||||
KraneShares MSCI China Clean Technology Index ETF | ||||||||||||||||||||||||||||||
603,644 | 9,037 | (239,800 | ) | 57,111 | 29,045 | 459,037 | 11,016 | — | ||||||||||||||||||||||
KraneShares SSE STAR Market 50 Index ETF | ||||||||||||||||||||||||||||||
296,468 | 9,020 | (98,624 | ) | (5,383 | ) | (1,410 | ) | 200,071 | 11,005 | — | ||||||||||||||||||||
$ | 2,789,693 | $ | 45,090 | (961,844 | ) | 163,180 | 34,251 | 2,070,369 | — |
Amounts designated as “—” are $0 or have been rounded to $0.
KRS-QH-032-0200
86
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Global Carbon Transformation ETF
Shares | Value | |||||||
COMMON STOCK — 95.5% ‡ | ||||||||
Australia — 3.4% | ||||||||
Materials — 3.4% | ||||||||
Fortescue Metals Group | 6,291 | $ | 75,835 | |||||
TOTAL AUSTRALIA | 75,835 | |||||||
Canada — 10.0% | ||||||||
Energy — 3.1% | ||||||||
Cameco | 3,198 | 67,222 | ||||||
Materials — 1.7% | ||||||||
Teck Resources, Cl B | 1,236 | 37,785 | ||||||
Utilities — 5.2% | ||||||||
Atco, Cl I | 1,928 | 65,913 | ||||||
Northland Power | 1,663 | 49,402 | ||||||
115,315 | ||||||||
TOTAL CANADA | 220,322 | |||||||
France — 13.0% | ||||||||
Energy — 2.6% | ||||||||
TotalEnergies | 1,084 | 57,082 | ||||||
Industrials — 6.2% | ||||||||
Legrand | 622 | 45,818 | ||||||
Rexel | 3,237 | 49,661 | ||||||
Schneider Electric | 351 | 41,429 | ||||||
136,908 | ||||||||
Materials — 2.0% | ||||||||
Air Liquide | 339 | 45,380 | ||||||
Utilities — 2.2% | ||||||||
Engie | 4,190 | 48,036 | ||||||
TOTAL FRANCE | 287,406 | |||||||
Germany — 9.8% | ||||||||
Industrials — 1.8% | ||||||||
Siemens | 398 | 40,398 | ||||||
Materials — 3.2% | ||||||||
Linde | 159 | 45,538 | ||||||
thyssenkrupp * | 4,266 | 24,128 | ||||||
69,666 | ||||||||
Utilities — 4.8% | ||||||||
Encavis | 1,847 | 33,743 |
87
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Global Carbon Transformation ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Germany — continued | ||||||||
Utilities — continued | ||||||||
RWE | 1,979 | $ | 72,578 | |||||
106,321 | ||||||||
TOTAL GERMANY | 216,385 | |||||||
India — 6.8% | ||||||||
Energy — 3.9% | ||||||||
Reliance Industries GDR | 1,323 | 86,061 | ||||||
Utilities — 2.9% | ||||||||
ReNew Energy Global, Cl A * | 9,733 | 62,973 | ||||||
TOTAL INDIA | 149,034 | |||||||
Italy — 9.0% | ||||||||
Energy — 2.8% | ||||||||
Eni | 5,307 | 62,850 | ||||||
Utilities — 6.2% | ||||||||
Enel | 6,329 | 34,539 | ||||||
ERG | 1,089 | 33,745 | ||||||
Hera | 6,759 | 19,502 | ||||||
Snam | 9,267 | 48,431 | ||||||
136,217 | ||||||||
TOTAL ITALY | 199,067 | |||||||
Luxembourg — 1.7% | ||||||||
Materials — 1.7% | ||||||||
ArcelorMittal | 1,679 | 37,757 | ||||||
TOTAL LUXEMBOURG | 37,757 | |||||||
New Zealand — 1.7% | ||||||||
Utilities — 1.7% | ||||||||
Contact Energy | 8,171 | 36,985 | ||||||
TOTAL NEW ZEALAND | 36,985 | |||||||
Norway — 4.5% | ||||||||
Energy — 0.6% | ||||||||
Equinor | 347 | 12,031 | ||||||
Industrials — 3.9% | ||||||||
Aker, Cl A | 827 | 63,282 |
88
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Global Carbon Transformation ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
Norway — continued | ||||||||
Industrials — continued | ||||||||
NEL * | 18,905 | $ | 22,895 | |||||
86,177 | ||||||||
TOTAL NORWAY | 98,208 | |||||||
South Africa — 1.9% | ||||||||
Materials — 1.9% | ||||||||
Anglo American | 1,173 | 41,839 | ||||||
TOTAL SOUTH AFRICA | 41,839 | |||||||
South Korea — 3.3% | ||||||||
Energy — 3.3% | ||||||||
SK Innovation * | 499 | 73,789 | ||||||
TOTAL SOUTH KOREA | 73,789 | |||||||
Spain — 6.2% | ||||||||
Utilities — 6.2% | ||||||||
EDP Renovaveis | 2,605 | 61,331 | ||||||
Grenergy Renovables * | 904 | 32,019 | ||||||
Iberdrola | 4,170 | 43,142 | ||||||
TOTAL SPAIN | 136,492 | |||||||
United Kingdom — 5.0% | ||||||||
Energy — 3.0% | ||||||||
BP | 13,978 | 65,916 | ||||||
Utilities — 2.0% | ||||||||
SSE | 2,271 | 44,569 | ||||||
TOTAL UNITED KINGDOM | 110,485 | |||||||
United States — 19.2% | ||||||||
Energy — 5.3% | ||||||||
Baker Hughes, Cl A | 1,777 | 51,302 | ||||||
New Fortress Energy, Cl A | 967 | 38,264 | ||||||
Tellurian * | 9,273 | 27,634 | ||||||
117,200 | ||||||||
Industrials — 8.9% | ||||||||
Chart Industries * | 287 | 48,038 | ||||||
Jacobs Engineering Group | 292 | 37,122 | ||||||
MasTec * | 151 | 10,821 | ||||||
Plug Power * | 1,517 | 25,137 | ||||||
Quanta Services | 589 | 73,825 | ||||||
| 194,943 |
89
Schedule of Investments (Unaudited) June 30, 2022
KraneShares Global Carbon Transformation ETF
Shares | Value | |||||||
COMMON STOCK — continued | ||||||||
United States — continued | ||||||||
Materials — 2.4% | ||||||||
Air Products and Chemicals | 54 | $ | 12,986 | |||||
Freeport-McMoRan | 1,386 | 40,554 | ||||||
53,540 | ||||||||
Utilities — 2.6% | ||||||||
AES | 2,750 | 57,777 | ||||||
TOTAL UNITED STATES | 423,460 | |||||||
TOTAL COMMON STOCK | ||||||||
(Cost $2,393,502) | 2,107,064 | |||||||
TOTAL INVESTMENTS — 95.5% | ||||||||
(Cost $2,393,502) | 2,107,064 | |||||||
OTHER ASSETS LESS LIABILITIES – 4.5% | 98,284 | |||||||
NET ASSETS - 100% | $ | 2,205,348 |
‡ | Industries are utilized for compliance purposes, whereas sectors are utilized for reporting. |
* | Non-income producing security. |
Cl — Class
GDR — Global Depositary Receipt
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
Amounts designated as “—” are $0 or have been rounded to $0.
KRS-QH-033-0100
90
Consolidated Schedule of Investments (Unaudited) June 30, 2022
KraneShares Global Carbon Strategy ETF
Shares | Value | |||||||
EXCHANGE - TRADED FUND — 6.0% | ||||||||
Schwab Short-Term U.S. Treasury ETF ‡ | 1,494,950 | $ | 73,536,591 | |||||
TOTAL EXCHANGE - TRADED FUND | ||||||||
(Cost $75,761,385) | 73,536,591 | |||||||
U.S. TREASURY OBLIGATION(A) — 2.1% | ||||||||
United States Treasury Bills^ (B) | ||||||||
0.060%, 07/14/2022 | 25,000,000 | 24,990,769 | ||||||
TOTAL U.S. TREASURY OBLIGATION | ||||||||
(Cost $24,999,458) | 24,990,769 | |||||||
TOTAL INVESTMENTS — 8.1% | ||||||||
(Cost $100,760,843) | 98,527,360 | |||||||
OTHER ASSETS LESS LIABILITIES – 91.9% | 1,123,880,864 | |||||||
NET ASSETS - 100% | $ | 1,222,408,224 |
A list of the open futures contracts held by the Fund at June 30, 2022, is as follows:
Type of Contract | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized | ||||||||||||
Long Contracts | |||||||||||||||||
Euro FX 2022^ | 10 | Sep-2022 | $ | 1,347,514 | $ | 1,317,250 | $ | (30,264 | ) | ||||||||
RGGI VINTAGE 2022^ | 4,330 | Dec-2022 | 56,964,180 | 60,966,400 | 4,002,220 | ||||||||||||
UK Allowances 2022^ | 592 | Dec-2022 | 55,293,413 | 61,103,787 | 11,389,442 | ||||||||||||
CA Carbon Allowance 2022^ | 9,239 | Dec-2022 | 284,021,558 | 289,088,310 | 5,066,752 | ||||||||||||
CA Carbon Allowance 2022^ | 1,749 | Dec-2023 | 57,879,646 | 58,224,210 | 344,564 | ||||||||||||
ICE ECX Emission 2022^ | 7,371 | Dec-2022 | 601,153,268 | 694,771,059 | 141,719,481 | ||||||||||||
ICE ECX Emission 2022^ | 649 | Dec-2023 | 55,845,113 | 63,059,245 | 11,607,731 | ||||||||||||
$ | 1,112,504,692 | $ | 1,228,530,261 | $ | 174,099,926 |
^ | Security is held by the KFA Global Carbon Subsidiary, Ltd. as of June 30, 2022. |
‡ | For financial information on the Schwab Short-Term U.S. Treasury ETF, please go to the Securities Exchange Commission’s website at http://www.sec.gov. |
(A) | The rate reported on the Schedule of Investments is the effective yield at time of purchase. |
(B) | Zero coupon security. |
CA — California
ECX — European Climate Exchange
ETF — Exchange-Traded Fund
ICE — Intercontinental Exchange
RGGI — Regional Greenhouse Gas Initiative
UK — United Kingdom
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-020-0300
91
Consolidated Schedule of Investments (Unaudited) June 30, 2022
KraneShares European Carbon Allowance Strategy ETF
A list of the open futures contracts held by the Fund at June 30, 2022, is as follows:
Type of Contract | Number of Contracts | Expiration | Notional Amount | Value | Unrealized | ||||||||||||
Long Contracts | |||||||||||||||||
Euro FX^ | 26 | Sep-2022 | $ | 3,503,536 | $ | 3,424,850 | $ | (78,685 | ) | ||||||||
ICE ECX Emission 2022^ | 294 | Dec-2022 | 27,711,125 | 27,711,666 | 1,958,679 | ||||||||||||
$ | 31,214,661 | $ | 31,136,516 | $ | 1,879,994 |
^ | Security is held by the KraneShares European Carbon Subsidiary, Ltd. as of June 30, 2022. |
ECX — European Climate Exchange
ICE — Intercontinental Exchange
As June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-029-0200
92
Consolidated Schedule of Investments (Unaudited) June 30, 2022
KraneShares California Carbon Allowance Strategy ETF
A list of the open futures contracts held by the Fund at June 30, 2022, is as follows:
Type of Contract | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized | ||||||||||||
Long Contracts | |||||||||||||||||
CA Carbon Allowance 2022^ | 6,809 | Dec-2022 | $ | 215,190,843 | $ | 213,053,610 | $ | (2,137,233 | ) |
^ | Security is held by the KraneShares California Carbon Subsidiary, Ltd. as of June 30, 2022. |
CA — California
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-030-0200
93
Consolidated Schedule of Investments (Unaudited) June 30, 2022
KraneShares Global Carbon Offset Strategy ETF
A list of the open futures contracts held by the Fund at June 30, 2022, is as follows:
Type of Contract | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized | ||||||||||||
Long Contracts | |||||||||||||||||
CBL Global Emission Offset 2022^ | 80 | Dec-2022 | $ | 470,521 | $ | 331,200 | $ | (139,322 | ) | ||||||||
CBL Nature-Based Global Emission Offset 2022^ | 250 | Dec-2022 | 2,760,380 | 2,195,000 | (565,380 | ) | |||||||||||
$ | 3,230,901 | $ | 2,526,200 | $ | (704,702 | ) |
^ | Security is held by the KraneShares Carbon Offset Strategy ETF Subsidiary, Ltd. as of June 30, 2022. |
As of June 30, 2022, all of the Fund’s investments were considered Level 1 of the fair value hierarchy, in accordance with the authoritative guidance under U.S. GAAP.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
KRS-QH-034-0100
94