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Livermore
Livermore
ZHEN

Krane Funds Advisors LLC

SEC CIK
0001536592
Latest filing
Aug 14, 2026

The latest 13F from Krane Funds Advisors LLC covers Q2 2026 (filed Aug 14, 2026): 185 long positions worth $2.82B. The top 10 holdings make up 63.3% of the portfolio, and the largest is PDD Holdings Inc. (PDD) at 15.6%. Livermore has 24 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
28
Est. +$65.6M
Added
108
Est. +$551.6M
Reduced
46
Est. −$89.3M
Sold out
16
Est. −$14.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. PDDPDD Holdings Inc.
    15.6%$440.9MHistory
  2. YMMFull Truck Alliance Co. Ltd.
    8.2%$230.2MHistory
  3. TMETencent Music Entertainment Group
    6.7%$188.2MHistory
  4. BZKanzhun Ltd
    6.3%$177.8MHistory
  5. Kraneshares Trust500767355
    6.0%$168.4M

Biggest buys

New and added positions, by estimated amount bought

  1. TMETencent Music Entertainment Group
    +$38.9MAddedHistory
  2. NVDANVIDIA Corp
    +$26.3MAddedHistory
  3. GOOGLAlphabet Inc.
    +$20.6MAddedHistory
  4. METAMeta Platforms, Inc.
    +$19.4MAddedHistory
  5. MSFTMicrosoft Corp
    +$18.5MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. NVDANVIDIA Corp
    +0.92 pp0.6% → 1.5%History
  2. ALABAstera Labs, Inc.
    +0.82 pp0.1% → 0.9%History
  3. AMDAdvanced Micro Devices Inc
    +0.80 pp0.2% → 1.0%History
  4. GOOGLAlphabet Inc.
    +0.74 pp0.3% → 1.0%History
  5. TSLATesla, Inc.
    +0.67 pp0.5% → 1.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. QFINQfin Holdings, Inc.
    −$26.0MReducedHistory
  2. TALTAL Education Group
    −$15.8MReducedHistory
  3. VIPSVipshop Holdings Ltd
    −$14.7MReducedHistory
  4. JOYYJOYY Inc.
    −$6.26MReducedHistory
  5. ATHMAutohome Inc.
    −$5.49MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. TALTAL Education Group
    −2.92 pp8.8% → 5.9%History
  2. VIPSVipshop Holdings Ltd
    −2.16 pp7.0% → 4.9%History
  3. BZKanzhun Ltd
    −1.61 pp7.9% → 6.3%History
  4. YMMFull Truck Alliance Co. Ltd.
    −1.54 pp9.7% → 8.2%History
  5. Kraneshares Trust500767355
    −1.07 pp7.0% → 6.0%

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$2.82B
+$385.3M (+15.8%) vs. prior quarter
Positions
185
+12 vs. prior quarter
Top 10 concentration
63.3%
Top 10 as share of value
Turnover
4.0%
Q2 2026, one quarter
Average holding period
15.5 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $4.83B (Q3 2021)

Q1 2021: $2.66BQ2 2021: $3.34BQ3 2021: $4.83BQ4 2021: $3.98BQ1 2022: $2.42BQ2 2022: $2.80BQ3 2022: $1.93BQ4 2022: $2.45BQ1 2023: $2.19BQ2 2023: $1.90BQ3 2023: $2.44BQ4 2023: $2.40BQ1 2024: $2.43BQ2 2024: $2.37BQ3 2024: $2.78BQ4 2024: $2.44BQ1 2025: $3.48BQ2 2025: $2.54BQ3 2025: $3.52BQ4 2025: $3.08BQ1 2026: $2.44BQ2 2026: $2.82B
Q1 2021Q2 2026
13F filings of Krane Funds Advisors LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 2026185$2.82BPDDYMMTMEvs. Q1 2026SEC
Q1 2026May 11, 2026173$2.44BPDDYMMTALvs. Q4 2025SEC
Q4 2025Feb 11, 2026159$3.08BPDDTMEYMMvs. Q3 2025SEC
Q3 2025Nov 10, 2025137$3.52BPDDTMEBZvs. Q2 2025SEC
Q2 2025Aug 11, 2025138$2.54BPDDTMEBZvs. Q1 2025SEC
Q1 2025Apr 28, 2025119$3.48BPDDBZTMEvs. Q4 2024SEC
Q4 2024Feb 13, 2025113$2.44BPDDBEKEYMMvs. Q3 2024SEC
Q3 2024Oct 21, 2024Amended96$2.78BPDDBEKEKraneshares Trustvs. Q2 2024SEC
Q2 2024Aug 8, 202492$2.37BPDDTMEBEKEvs. Q1 2024SEC
Q1 2024Apr 16, 202490$2.43BPDDBZTMEvs. Q4 2023SEC
Q4 2023Feb 26, 2024Amended102$2.40BPDDBZBEKEvs. Q3 2023SEC
Q3 2023Nov 13, 2023104$2.44BPDDYMMBEKEvs. Q2 2023SEC
Q2 2023Aug 11, 202398$1.90BPDDBZYMMvs. Q1 2023SEC
Q1 2023May 12, 2023105$2.19BPDDBEKETMEvs. Q4 2022SEC
Q4 2022Feb 10, 2023109$2.45BPDDTMEYMMvs. Q3 2022SEC
Q3 2022Nov 14, 2022120$1.93BBEKEPDDYMMvs. Q2 2022SEC
Q2 2022Aug 11, 2022284$2.80BBEKEPDDYMMvs. Q1 2022SEC
Q1 2022May 11, 2022313$2.42BTCOMBZPDDvs. Q4 2021SEC
Q4 2021Feb 10, 2022305$3.98BBABABIDUJDvs. Q3 2021SEC
Q3 2021Nov 12, 2021300$4.83BBABAJDPDDvs. Q2 2021SEC
Q2 2021Aug 12, 2021294$3.34BBABAPDDJDvs. Q1 2021SEC
Q1 2021May 14, 2021290$2.66BBABAPDDBIDU–SEC