KraneShares CSI China Internet ETF
KWEB
298 hedge funds and large institutions have $3.36B invested in KraneShares CSI China Internet ETF in 2025 Q2 according to their latest regulatory filings, with 39 funds opening new positions, 90 increasing their positions, 114 reducing their positions, and 86 closing their positions.
16% more call options, than puts
Call options by funds: $1.88B | Put options by funds: $1.62B
1.93% more ownership
Funds ownership: 50.52% → 52.45% (+1.9%)
9% less funds holding in top 10
Funds holding in top 10: 22 → 20 (-2)
14% less funds holding
Funds holding: 347 → 298 (-49)
17% less capital invested
Capital invested by funds: $4.06B → $3.36B (-$701M)
21% less repeat investments, than reductions
Existing positions increased: 90 | Existing positions reduced: 114
55% less first-time investments, than exits
New positions opened: 39 | Existing positions closed: 86
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TC
Torno Capital
Cohasset,
Massachusetts
|
+$162M |
| 2 |
D.E. Shaw & Co
New York
|
+$48.8M |
| 3 |
Temasek Holdings
Singapore
|
+$48.4M |
| 4 |
BNP Paribas Financial Markets
Paris,
France
|
+$26.6M |
| 5 |
MASUI
MIRAE ASSET SECURITIES (USA) INC.
New York
|
+$21.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
APF
Alaska Permanent Fund
Juneau,
Alaska
|
-$102M |
| 2 |
OMC
Old Mission Capital
Chicago,
Illinois
|
-$96.2M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$94.3M |
| 4 |
SPC
Slate Path Capital
New York
|
-$94.1M |
| 5 |
Morgan Stanley
New York
|
-$63.3M |
KWEB Hedge Fund Activity: Q2 2025 in Review
298 of the 7,613 institutional investors tracked by Wall St. Rank reported a position in KraneShares CSI China Internet ETF (KWEB) for Q2 2025, worth a combined $3.36B — down 17% from $4.06B a quarter earlier.
Sellers outnumbered buyers: 86 funds closed out of KWEB and 39 opened new positions — a net loss of 47 holders — while 114 trimmed existing stakes and 90 added.
The largest buyer was Torno Capital, opening a new position worth an estimated $162M. The largest seller was Alaska Permanent Fund, exiting entirely with an estimated $102M sold.
- 298 institutional investors held KraneShares CSI China Internet ETF (KWEB) as of Q2 2025, down from 347 in Q1 2025.
- Funds reported $3.36B of KraneShares CSI China Internet ETF stock for Q2 2025, down 17% quarter-over-quarter.
- 39 funds opened new KraneShares CSI China Internet ETF positions in Q2 2025 and 86 closed out, a net change of -47 holders.
- The largest KraneShares CSI China Internet ETF buyer in Q2 2025 was Torno Capital, an estimated $162M added.
- The largest KraneShares CSI China Internet ETF seller in Q2 2025 was Alaska Permanent Fund, an estimated $102M sold.
Based on aggregated 13F filings for Q2 2025.