Chinese ADR Earns Bigger Piece of Fund Pie, According to Recent Filing

Krane Funds Advisors LLC increased its stake in Kanzhun Limited (NASDAQ:BZ) by 3,819,347 shares in the third quarter, boosting position value by $137.30 million, according to a November 10, 2025, SEC filing.

What Happened

Krane Funds Advisors LLC disclosed in its November 10, 2025, SEC filing that it bought 3,819,347 additional shares of Kanzhun Limited during the third quarter. The position’s value increased to $413.31 million as of September 30, 2025, up from the prior period.

What Else to Know

The buy increased Kanzhun to 11.75% of Krane Funds Advisors’ reportable assets under management.

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 (11.8% 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 $21.08, up 38.5% over the past year; shares have outperformed the S&P 500 by 29.91 percentage points.

Company Overview

Company Snapshot

Kanzhun Limited operates an online recruitment platform in China that assists the recruitment process between job seekers and employers. Kanzhun Limited's platform connects job seekers with employers, including enterprises and corporations, in China.

• Operates BOSS Zhipin, an online recruitment platform connecting job seekers with employers in China; generates revenue primarily from recruitment services.
• Targets businesses of all sizes seeking to hire talent, as well as individual job seekers across diverse industries in the Chinese market.
• Serves a user base that includes both enterprise clients and individual job seekers, facilitating digital hiring solutions across multiple sectors.

Foolish Take

Krane Funds Advisors, a New York-based investment management company, recently purchased $137 million worth of Kanzhun Limited, a Chinese company that operates an online recruitment platform which connects job seekers and employers.

This transaction is part of a larger portfolio reallocation by Krane, which runs several exchange-traded funds (ETFs), including the popular KraneShares CSI China Internet ETF (KWEB).

Krane's total assets under management increased from $2.5 billion at the end of the second quarter (the three months ending on June 30, 2025) to $3.5 billion at the end of the third quarter (the three months ending on September 30, 2025).

During the third quarter, Krane increased many of its existing positions, including its stake in Kanzhun. Not only did the fund increase its absolute stake in Kanzhun, but it also increased its relative stake. Kanzhun now comprises 11.8% of assets under management, up from 10.9% at the end of the second quarter.

In summary, this transaction represents portfolio management by a large institution that runs China-focused ETFs. Therefore, retail investors shouldn't read too much into this buy.

Glossary

Assets Under Management (AUM): The total market value of investments managed by a fund or investment firm.
13F reportable assets: Securities that institutional investment managers must disclose quarterly to the SEC if managing over $100 million.
Position value: The total dollar worth of a specific investment holding within a portfolio.
Stake: The amount of ownership or shares held in a particular company by an investor or fund.
Outperforming: Achieving a higher return compared to a benchmark index or comparable investment.
Holding: A specific security or asset owned within an investment portfolio.
Market capitalization: The total value of a company's outstanding shares, calculated as share price times shares outstanding.
TTM: The 12-month period ending with the most recent quarterly report.
Third quarter: The three-month period ending September 30 in a company's financial year.

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.