Vault-13

KRANESHARES TRUST KWEB

CSI CHI INTERNET · ETP · CUSIP 500767306

316 institutional holders -45 vs Q4 2025
135,542,049135.5m shares reported held*
$3.9bnreported value*
58 new 112 added 90 reduced 93 sold out net sold ≈ $61.3m (-2.2m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $28.41. Options: 69 managers hold calls ($4.7bn notional), 36 hold puts ($2.0bn).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 263Q4 22: 271Q1 23: 288Q2 23: 258Q3 23: 283Q4 23: 290Q1 24: 263Q2 24: 272Q3 24: 297Q4 24: 269Q1 25: 350Q2 25: 300Q3 25: 337Q4 25: 361Q1 26: 316316Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 2022263
Q4 2022271
Q1 2023288
Q2 2023258
Q3 2023283
Q4 2023290
Q1 2024263
Q2 2024272
Q3 2024297
Q4 2024269
Q1 2025350
Q2 2025300
Q3 2025337
Q4 2025361
Q1 2026316

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q2 24: 130 bought or addedQ2 24: 134 cut or sold outQ3 24: 154 bought or addedQ3 24: 154 cut or sold outQ3 24Q4 24: 129 bought or addedQ4 24: 172 cut or sold outQ1 25: 223 bought or addedQ1 25: 119 cut or sold outQ1 25Q2 25: 127 bought or addedQ2 25: 200 cut or sold outQ3 25: 197 bought or addedQ3 25: 127 cut or sold outQ3 25Q4 25: 193 bought or addedQ4 25: 173 cut or sold outQ1 26: 170 bought or addedQ1 26: 183 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024130134
Q3 2024154154
Q4 2024129172
Q1 2025223119
Q2 2025127200
Q3 2025197127
Q4 2025193173
Q1 2026170183

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2bn$4bn$6bn$8bnQ2 25 calls: $2.2bnQ2 25 puts: $1.7bnQ2 25P/C 0.76Q3 25 calls: $6.0bnQ3 25 puts: $5.0bnQ3 25P/C 0.83Q4 25 calls: $6.0bnQ4 25 puts: $3.1bnQ4 25P/C 0.51Q1 26 calls: $4.7bnQ1 26 puts: $2.0bnQ1 26P/C 0.42
Numbers
QuarterCallsPutsP/C
Q2 2025$2.2bn$1.7bn0.76
Q3 2025$6.0bn$5.0bn0.83
Q4 2025$6.0bn$3.1bn0.51
Q1 2026$4.7bn$2.0bn0.42

Biggest buyers

Varma Mutual Pension Insurance Co New +8,885,966+8.9m
BANK OF AMERICA CORP /DE/ Added +2,693,759+2.7m
Jain Global LLC Added +2,691,350+2.7m
MORGAN STANLEY Added +2,685,340+2.7m
SIH Partners, LLLP Added +2,252,265+2.3m
MENORA MIVTACHIM HOLDINGS LTD. Added +2,097,000+2.1m
Balyasny Asset Management L.P. Added +1,898,457+1.9m
DV Trading LLC Added +1,881,857+1.9m
JPMORGAN CHASE & CO Added +1,814,401+1.8m
WELLS FARGO & COMPANY/MN Added +1,806,670+1.8m

Biggest sellers

JANE STREET GROUP, LLC Reduced -8,603,205-8.6m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -8,153,148-8.2m
UBS Group AG Reduced -4,884,507-4.9m
Temasek Holdings (Private) Ltd Reduced -3,945,908-3.9m
APPALOOSA LP Reduced -3,670,000-3.7m
Quadrature Capital Ltd Sold out -2,688,631-2.7m
SPX Gestao de Recursos Ltda Sold out -2,075,400-2.1m
Kapitalo Investimentos Ltda Sold out -1,734,000-1.7m
Migdal Insurance & Financial Holdings Ltd. Reduced -1,160,565-1.2m
University of Illinois Foundation Sold out -1,025,624-1.0m

Biggest calls

UBS Group AG Added $719.2m25.3m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $597.3m21.0m shares
CITADEL ADVISORS LLC Reduced $445.8m15.7m shares
JANE STREET GROUP, LLC Added $377.8m13.3m shares
BANK OF MONTREAL /CAN/ Reduced $340.1m12.0m shares
SIMPLEX TRADING, LLC Added $275.8m9.7m shares
BNP PARIBAS FINANCIAL MARKETS Added $186.8m65.7k shares
Jain Global LLC Added $160.9m5.7m shares
GROUP ONE TRADING LLC Reduced $149.3m5.3m shares
Schonfeld Strategic Advisors LLC Added $127.5m4.5m shares

Biggest puts

JANE STREET GROUP, LLC Reduced $521.8m18.4m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $288.5m10.1m shares
CITADEL ADVISORS LLC Reduced $216.9m7.6m shares
BNP PARIBAS FINANCIAL MARKETS Added $150.3m52.9k shares
Jain Global LLC Added $109.4m3.8m shares
UBS Group AG Reduced $108.2m3.8m shares
Balyasny Asset Management L.P. Added $91.8m3.2m shares
GOLDMAN SACHS GROUP INC Added $65.4m2.3m shares
ADAPT Investment Managers SA New $56.9m2.0m shares
MILLENNIUM MANAGEMENT LLC Reduced $50.8m1.8m shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 11,090,67511.1m $315.3m $315.3m 0.02% Added +2.7m +2,693,759
2 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 10,140,27310.1m $288.3m $288.3m 0.02% Added +2.7m +2,685,340
3 Varma Mutual Pension Insurance Co 1.48% of their portfolio Varma, H9 8,885,9668.9m $252.6m $252.6m 1.48% New
4 DV Trading LLC 19.55% of their portfolio CHICAGO, IL 7,572,0787.6m $215.3m $215.3m 19.55% Added +1.9m +1,881,857
5 JANE STREET GROUP, LLC 0.20% of their portfolio NEW YORK, NY 6,629,0436.6m $188.5m $188.5m 0.20% Reduced -8.6m -8,603,205
6 UBS Group AG 0.03% of their portfolio ZURICH, V8 6,010,6276.0m $170.9m $170.9m 0.03% Reduced -4.9m -4,884,507
7 Rafferty Asset Management, LLC 0.58% of their portfolio New York, NY 5,039,2395.0m $143.3m $143.3m 0.58% Added +737.0k +737,048
8 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 4,562,3944.6m $129.7m $129.7m 0.02% Added +421.5k +421,521
9 Krane Funds Advisors LLC 4.80% of their portfolio NEW YORK, NY 4,161,2004.2m $117.0m $117.0m 4.80% Added +304.5k +304,500
10 SIH Partners, LLLP 2.85% of their portfolio Wilmington, DE 3,256,6653.3m $92.6m $92.6m 2.85% Added +2.3m +2,252,265
11 Jain Global LLC 1.16% of their portfolio NEW YORK, NY 3,188,9983.2m $90.7m $90.7m 1.16% Added +2.7m +2,691,350
12 BARCLAYS PLC 0.03% of their portfolio LONDON, X0 3,040,9773.0m $86.5m $86.5m 0.03% Added +1.6m +1,633,327
13 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 2,962,3013.0m $84.2m $84.2m 0.02% Added +1.8m +1,806,670
14 BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio PARIS, I0 2,888,8862.9m $82.1m $82.1m 0.05% Added +777.8k +777,811
15 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,868,9552.9m $79.7m $79.7m 0.01% Added +1.8m +1,814,401
16 Balyasny Asset Management L.P. 0.15% of their portfolio Chicago, IL 2,734,4552.7m $77.7m $77.7m 0.15% Added +1.9m +1,898,457
17 CITADEL ADVISORS LLC 0.05% of their portfolio MIAMI, FL 2,585,7972.6m $73.5m $73.5m 0.05% Added +1.1m +1,091,267
18 Temasek Holdings (Private) Ltd 0.24% of their portfolio SINGAPORE, U0 2,553,4742.6m $72.6m $72.6m 0.24% Reduced -3.9m -3,945,908
19 Migdal Insurance & Financial Holdings Ltd. 0.61% of their portfolio Petach Tikva, L3 2,462,4692.5m $70.0m $70.0m 0.61% Reduced -1.2m -1,160,565
20 Nearwater Capital Markets, Ltd 1.60% of their portfolio NEW YORK, NY 2,381,2002.4m $67.7m $67.7m 1.60% Added +1.6m +1,581,200
21 Clal Insurance Enterprises Holdings Ltd 0.38% of their portfolio Tel-aviv, L3 2,186,5162.2m $62.2m $62.2m 0.38% Added +770.0k +770,000
22 MENORA MIVTACHIM HOLDINGS LTD. 0.29% of their portfolio Ramat Gan, L3 2,157,0002.2m $61.3m $61.3m 0.29% Added +2.1m +2,097,000
23 NWI MANAGEMENT LP 1.57% of their portfolio NEW YORK, NY 1,800,0001.8m $51.2m $51.2m 1.57% New
24 SG Americas Securities, LLC 0.05% of their portfolio NEW YORK, NY 1,693,3861.7m $48.1m $48.1m 0.05% Added +1.5m +1,528,208
25 Robinhood Asset Management, LLC 3.16% of their portfolio MENLO PARK, CA 1,534,4671.5m $43.6m $43.6m 3.16% Reduced -53.0k -53,002
26 Qube Research & Technologies Ltd 0.06% of their portfolio LONDON, X0 1,364,1841.4m $38.8m $38.8m 0.06% Added +458.0k +458,037
27 COMPASS ROSE ASSET MANAGEMENT, LP 11.39% of their portfolio New York, NY 1,230,0001.2m $35.0m $35.0m 11.39% Added +680.0k +680,000
28 Massar Capital Management, LP 6.53% of their portfolio STAMFORD, CT 1,150,5721.2m $32.7m $32.7m 6.53% New
29 TUDOR INVESTMENT CORP ET AL 0.17% of their portfolio STAMFORD, CT 1,120,3341.1m $31.9m $31.9m 0.17% Added +829.3k +829,303
30 Brevan Howard Capital Management LP 0.32% of their portfolio ST. HELIER, Y9 1,117,5001.1m $31.8m $31.8m 0.32% Added +1.1m +1,088,500
31 APPALOOSA LP 0.52% of their portfolio Short Hills, NJ 1,080,0001.1m $30.7m $30.7m 0.52% Reduced -3.7m -3,670,000
32 VOYA INVESTMENT MANAGEMENT LLC 0.03% of their portfolio ATLANTA, GA 1,025,8331.0m $29.2m $29.2m 0.03% Reduced -75.4k -75,439
33 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 980,277980.3k $27.9m $27.9m 0.01% Reduced -158.5k -158,521
34 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 958,843958.8k $27.3m $27.3m 0.01% Reduced -442.3k -442,284
35 BlackRock, Inc. 0.00% of their portfolio New York, NY 924,320924.3k $26.3m $26.3m 0.00% Added +20.8k +20,836
36 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 813,143813.1k $23.1m $23.1m 0.01% Added +86.2k +86,212
37 GROUP ONE TRADING LLC 0.73% of their portfolio CHICAGO, IL 773,311773.3k $22.0m $22.0m 0.73% Added +171.8k +171,752
38 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 752,437752.4k $21.4m $21.4m 0.01% Added +719.5k +719,461
39 PING CAPITAL MANAGEMENT, INC. 7.22% of their portfolio NEW YORK, NY 656,300656.3k $18.7m $18.7m 7.22% Added +161.3k +161,300
40 Walleye Trading LLC 0.36% of their portfolio NEW YORK, NY 613,229613.2k $17.4m $17.4m 0.36% Added +378.0k +378,025
41 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 513,526513.5k $14.6m $14.6m 0.02% Reduced -8.2m -8,153,148
42 Provida Pension Fund Administrator 0.22% of their portfolio LAS CONDES, SANTIAGO, F3 468,880468.9k $13.3m $13.3m 0.22% Added +341.4k +341,390
43 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 442,373442.4k $12.6m $12.6m 0.00% Reduced -21.5k -21,467
44 Aurora Investment Managers, LLC. 9.12% of their portfolio NAPLES, FL 435,918435.9k $12.4m $12.4m 9.12% Reduced -3.9k -3,888
45 Schonfeld Strategic Advisors LLC 0.09% of their portfolio NEW YORK, NY 396,204396.2k $11.3m $11.3m 0.09% Added +385.7k +385,704
46 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 372,047372.0k $10.6m $10.6m 0.00% Added +148.9k +148,856
47 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 357,102357.1k $10.2m $10.2m 0.01% Added +87.6k +87,567
48 Bleakley Financial Group, LLC 0.15% of their portfolio PARSIPPANY, NJ 335,109335.1k $9.5m $9.5m 0.15% Added +5.6k +5,591
49 Breakout Capital Partners, LP 5.28% of their portfolio NEW YORK, NY 322,786322.8k $9.2m $9.2m 5.28% Reduced -352.3k -352,294
50 Morningstar Investment Management LLC 0.55% of their portfolio CHICAGO, IL 315,109315.1k $9.0m $9.0m 0.55% New
51 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 305,700305.7k $8.7m $8.7m 0.01% Reduced -818.3k -818,300
52 SOROS FUND MANAGEMENT LLC 0.12% of their portfolio NEW YORK, NY 300,404300.4k $8.5m $8.5m 0.12% New
53 Capula Management Ltd 0.07% of their portfolio Grand Cayman, E9 297,080297.1k $8.4m $8.4m 0.07% Added +295.0k +294,952
54 Graham Capital Management, L.P. 0.27% of their portfolio ROWAYTON, CT 279,000279.0k $7.9m $7.9m 0.27% Reduced -276.4k -276,390
55 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 265,707265.7k $7.6m $7.6m 0.01% Reduced -243.4k -243,352
56 Pentwater Capital Management LP 0.05% of their portfolio Naples, FL 250,000250.0k $7.1m $7.1m 0.05% New
57 Rye Brook Capital LLC 6.46% of their portfolio GREENWICH, CT 246,450246.4k $7.0m $7.0m 6.46% Added +11.3k +11,300
58 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 244,034244.0k $6.9m $6.9m 0.01% Added +183.4k +183,401
59 Phoenix Financial Ltd. 0.06% of their portfolio Givatayim, L3 233,268233.3k $6.6m $6.6m 0.06% Added +2.9k +2,937
60 LHM, INC. 2.59% of their portfolio Sandy, UT 231,364231.4k $6.6m $6.6m 2.59% Added +34.0k +33,950
61 EVERGREEN CAPITAL MANAGEMENT LLC 0.14% of their portfolio Bellevue, WA 228,297228.3k $6.5m $6.5m 0.14% Added +114.2k +114,214
62 HELIOS CAPITAL MANAGEMENT PTE. LTD 6.67% of their portfolio SINGAPORE, U0 223,000223.0k $6.3m $6.3m 6.67% Unchanged
63 NewEdge Wealth, LLC 0.07% of their portfolio STAMFORD, CT 218,373218.4k $6.2m $6.2m 0.07% Reduced -2.3k -2,313
64 LMR Partners LLP 0.06% of their portfolio LONDON, X0 217,500217.5k $6.2m $6.2m 0.06% New
65 TORNO CAPITAL, LLC 1.25% of their portfolio COHASSET, MA 210,000210.0k $6.0m $6.0m 1.25% Reduced -940.0k -940,000
66 U.S. Capital Wealth Advisors, LLC 0.14% of their portfolio AUSTIN, TX 200,271200.3k $5.7m $5.7m 0.14% Reduced -50.7k -50,658
67 Tamar Securities, LLC 0.61% of their portfolio Woodland Hills, CA 198,790198.8k $5.7m $5.7m 0.61% Added +45.3k +45,295
68 NewEdge Advisors, LLC 0.02% of their portfolio NEW ORLEANS, LA 177,811177.8k $5.1m $5.1m 0.02% Added +44.1k +44,150
69 Polar Asset Management Partners Inc. 0.12% of their portfolio TORONTO, A6 176,200176.2k $5.0m $5.0m 0.12% New
70 CAPITAL FUND MANAGEMENT S.A. 0.04% of their portfolio PARIS, I0 176,079176.1k $5.0m $5.0m 0.04% New
71 Activest Wealth Management 0.87% of their portfolio AVENTURA, FL 175,013175.0k $5.0m $5.0m 0.87% Added +78.9k +78,937
72 TD Waterhouse Canada Inc. 0.01% of their portfolio TORONTO, A6 165,485165.5k $4.7m $4.7m 0.01% Added +22.9k +22,928
73 Vontobel Holding Ltd. 0.02% of their portfolio ZURICH, V8 161,303161.3k $4.6m $4.6m 0.02% Reduced -42.4k -42,414
74 Quantitative Investment Management, LLC 0.46% of their portfolio CHARLOTTESVILLE, VA 155,924155.9k $4.4m $4.4m 0.46% New
75 DRW Securities, LLC 0.24% of their portfolio CHICAGO, IL 152,771152.8k $4.3m $4.3m 0.24% Added +43.9k +43,859
76 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 151,882151.9k $4.3m $4.3m 0.00% Reduced -103.9k -103,935
77 NATIXIS 0.02% of their portfolio PARIS, I0 147,716147.7k $4.2m $4.2m 0.02% Added +133.6k +133,594
78 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 140,878140.9k $4.0m $4.0m 0.01% Reduced -740.1k -740,086
79 Portman Square Capital LLP 0.61% of their portfolio London, X0 140,000140.0k $4.0m $4.0m 0.61% New
80 TWO SIGMA SECURITIES, LLC 0.46% of their portfolio NEW YORK, NY 139,754139.8k $4.0m $4.0m 0.46% Added +81.2k +81,212
81 Verition Fund Management LLC 0.04% of their portfolio GREENWICH, CT 138,048138.0k $3.9m $3.9m 0.04% Added +71.8k +71,844
82 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 133,273133.3k $3.7m $3.7m 0.00% Reduced -35.9k -35,939
83 BlueCrest Capital Management Ltd 0.35% of their portfolio ST HELIER, Y9 130,000130.0k $3.7m $3.7m 0.35% Reduced -533.6k -533,641
84 CREDIT INDUSTRIEL ET COMMERCIAL 0.58% of their portfolio PARIS FRANCE, I0 128,807128.8k $3.7m $3.7m 0.58% Added +67.9k +67,945
85 Rathbones Group PLC 0.01% of their portfolio Liverpool, X0 128,700128.7k $3.7m $3.7m 0.01% Unchanged
86 LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 125,888125.9k $3.6m $3.6m 0.01% Unchanged
87 APEIRON CAPITAL Ltd 3.32% of their portfolio HONG KONG, K3 125,000125.0k $3.6m $3.6m 3.32% Unchanged
88 Snowden Capital Advisors LLC 0.09% of their portfolio New York, NY 121,913121.9k $3.5m $3.5m 0.09% Added +13.9k +13,902
89 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 120,000120.0k $3.4m $3.4m 0.01% New
90 QUATTRO FINANCIAL ADVISORS LLC 1.02% of their portfolio The Woodlands, TX 118,124118.1k $3.4m $3.4m 1.02% Added +39.5k +39,524
91 Viewpoint Capital Management LLC 1.56% of their portfolio SEATTLE, WA 117,630117.6k $3.3m $3.3m 1.56% Added +5.0k +5,040
92 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 117,451117.5k $3.3m $3.3m 0.00% Reduced -18.3k -18,330
93 NANO CAP NEW MILLENNIUM GROWTH FUND L P 2.99% of their portfolio STATEN ISLAND, NY 112,500112.5k $3.2m $3.2m 2.99% Added +13.5k +13,500
94 Capital Investment Counsel, Inc 0.39% of their portfolio RALEIGH, NC 112,170112.2k $3.2m $3.2m 0.39% Added +10.8k +10,847
95 ArchPoint Investors 0.68% of their portfolio CORAL GABLES, FL 100,875100.9k $2.9m $2.9m 0.68% Reduced -1.5k -1,500
96 Pekin Hardy Strauss, Inc. 0.29% of their portfolio CHICAGO, IL 96,46596.5k $2.7m $2.7m 0.29% Reduced -12.0k -12,039
97 Niles Investment Management, LLC 2.30% of their portfolio Plantation, FL 90,22690.2k $2.6m $2.6m 2.30% New
98 Caption Management, LLC 0.12% of their portfolio OKLAHOMA CITY, OK 88,10088.1k $2.5m $2.5m 0.12% Added +4.0k +4,000
99 Prospera Financial Services Inc 0.04% of their portfolio Dallas, TX 83,88483.9k $2.4m $2.4m 0.04% Added +40.1k +40,076
100 IHT Wealth Management, LLC 0.06% of their portfolio Chicago, IL 83,85783.9k $2.4m $2.4m 0.06% Added +21.0k +20,988