KRANESHARES TRUST

Ticker: KVLE CUSIP: 500767645 Class: KRANESHARES VALU

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (4)

Golden State Equity Partners

Value ($000) $941 Shares 36,768

Kestra Advisory Services, LLC

Value ($000) $57 Shares 2,227

TUCKER ASSET MANAGEMENT LLC

Value ($000) $6 Shares 217

Value ($000) $4 Shares 164

Institution	Shares	Value ($000)
Golden State Equity Partners	36,768	$941
Kestra Advisory Services, LLC	2,227	$57
TUCKER ASSET MANAGEMENT LLC	217	$6
UBS Group AG	164	$4

Increased Positions (2)

Proactive Wealth Strategies LLC

Value ($000) $786 (+39.1%) Shares 30,705 (+50.0%)

GTS SECURITIES LLC

Value ($000) $511 (+43.1%) Shares 19,976 (+54.3%)

Institution	Prev Shares	Curr Shares	Change
Proactive Wealth Strategies LLC	20,470	30,705	+10,235 (+50.0%)
GTS SECURITIES LLC	12,948	19,976	+7,028 (+54.3%)

Decreased Positions (4)

Freedom Investment Management, Inc.

Value ($000) $497 (-77.6%) Shares 19,438 (-75.8%)

LPL Financial LLC

Value ($000) $16,924 (-9.4%) Shares 661,498 (-2.3%)

OSAIC HOLDINGS, INC.

Value ($000) $0 (-99.9%) Shares 2 (-99.9%)

Global Retirement Partners, LLC

Value ($000) $6 (-73.1%) Shares 215 (-70.9%)

Institution	Prev Shares	Curr Shares	Change
Freedom Investment Management, Inc.	80,310	19,438	-60,872 (-75.8%)
LPL Financial LLC	677,055	661,498	-15,557 (-2.3%)
OSAIC HOLDINGS, INC.	1,502	2	-1,500 (-99.9%)
Global Retirement Partners, LLC	740	215	-525 (-70.9%)

Exited Positions (2)

CITADEL ADVISORS LLC

Value ($000) $314 Shares 11,384

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $230 Shares 8,356

Institution	Prev Shares	Prev Value ($000)
CITADEL ADVISORS LLC	11,384	$314
SUSQUEHANNA INTERNATIONAL GROUP, LLP	8,356	$230