Key Points
Added 3,426,079 shares of Vipshop; position value rose by $113.34 million
Post-trade stake totals 17,185,535 shares valued at $320.42 million
Vipshop now accounts for 9.1% of AUM, making it the fund's 5th-largest holding
On November 10, 2025, Krane Funds Advisors LLC disclosed a third-quarter buy of 3,426,079 Vipshop Holdings Limited(NYSE:VIPS) shares, increasing its position by an estimated $113.34 million.
What Happened
According to a filing with the U.S. Securities and Exchange Commission dated November 10, 2025, Krane Funds Advisors LLC reported buying 3,426,079 additional shares of Vipshop Holdings Limited during the third quarter. The position's value rose to $320.42 million, compared to $207.08 million at the prior quarter’s end, reflecting both the share increase and price appreciation.
What Else to Know
The buy lifts Vipshop’s stake to 9.1% of Krane Funds Advisors LLC’s $3.52 billion reportable AUM. The position was previously 8.1% of the fund's AUM as of the prior quarter.
Top holdings after the filing:
- NASDAQ:PDD: $792.43 million (22.5% of AUM)
- NYSE:TME: $421.59 million (12.0% of AUM)
- NASDAQ:BZ: $413.31 million (11.7% of AUM)
- NYSE:YMM: $352.07 million (10.0% of AUM)
- NYSE:VIPS: $320.42 million (9.1% of AUM)
As of November 7, 2025, shares were priced at $18.66, up 30.86% over the past year.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $14.68 billion |
| Net income (TTM) | $975.74 million |
| Dividend yield | 2.44% |
| Price (as of market close November 7, 2025) | $18.66 |
Company Snapshot
Vipshop Holdings Limited is a Chinese online discount retailer specializing in branded products across apparel, beauty, home, and lifestyle categories. The company uses a flash sales model and logistics network to support its e-commerce operations.
- Offers a broad portfolio of branded products including apparel, cosmetics, shoes, bags, home goods, electronics, and food through its vip.com and vipshop.com online platforms.
- Operates an e-commerce business model focused on flash sales, direct-to-consumer distribution, and value-driven supply chain services, generating revenue primarily from online merchandise sales and related services.
- Targets value-conscious consumers in China seeking discounted branded merchandise, with a customer base spanning women, men, children, and families.
Foolish Take
Krane Funds Advisors, a New York-based investment management company, recently acquired $3.4 million worth of Vipshop Holdings Limited, a Chinese online discount retailer. The transaction increased Vipshop stock as a percentage of assets under management from 8.1% at the end of the second quarter (the three months ending on June 30, 2025) to 9.3% at the end of the third quarter (the three months ending on September 30, 2025).
Retail investors may want to take note of this transaction, as Krane is a large institutional holder of Chinese stocks. As of the end of the third quarter, Krane has a total portfolio value of more than $3.5 billion -- up from $2.5 billion at the end of the second quarter.
Krane's largest exchange-traded fund (ETF) is KraneShares CSI China Internet ETF (KWEB), which counts Vipshop stock among its largest holdings.
For retail investors who want exposure to Chinese stocks -- but also want to diversify within the sector -- KWEB is an acceptable ETF to own. The fund has generated a total return of 35% year-to-date and has a three-year compound annual growth rate (CAGR) of 20%. On the downside, the fund has an expense ratio of 0.70%, which is higher than the average ETF.
At any rate, investors seeking exposure to Chinese stocks may want to consider the KWEB ETF.
Glossary
13F: A quarterly report filed by institutional investment managers disclosing their equity holdings to the SEC.
AUM (Assets Under Management): The total market value of assets that an investment firm manages on behalf of clients.
Reportable AUM: The portion of total assets under management that must be disclosed in regulatory filings.
Stake: The ownership interest or amount of shares held in a company by an investor or fund.
Trailing twelve months (TTM): The 12-month period ending with the most recent quarterly report.
Dividend yield: A financial ratio showing how much a company pays in dividends each year relative to its share price.
Flash sales: Short-term online sales events offering products at significant discounts for a limited time.
Direct-to-consumer distribution: Selling products directly from the manufacturer or retailer to the end customer, bypassing intermediaries.
Value-driven supply chain: A supply chain strategy focused on minimizing costs and maximizing value for both the company and its customers.
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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
