# EDGAR Filing Document

**Accession Number:** 0001547576
**File Stem:** 0002048251-26-001548
**Filing Date:** 2026-2
**Character Count:** 10604
**Document Hash:** b1eb087c405c33418b73a97d79284f3a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-001548.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0002048251-26-001548

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Krane Shares Trust
- **CENTRAL INDEX KEY:** 0001547576

**ORGANIZATION NAME:**
- **EIN:** 456861457
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22698
- **FILM NUMBER:** 26696252

**BUSINESS ADDRESS:**
- **STREET 1:** 280 PARK AVENUE
- **STREET 2:** 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-933-0393

**MAIL ADDRESS:**
- **STREET 1:** 280 PARK AVENUE
- **STREET 2:** 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Series and Classes Contracts Data

### KraneShares 100% KWEB Defined Outcome January 2027 ETF (Series ID: S000083834)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000247859 | KraneShares 100% KWEB Defined Outcome January 2027 ETF | KPRO            |

## Nport-Ex

**Schedule of Investments (Unaudited)** *December 31, 2025*

**KraneShares 90% KWEB Defined Outcome January 2027 ETF**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EXCHANGE - TRADED FUND — 102.1%** |  |  |
| **Domestic Equity — 102.1%** |  |  |
| &nbsp;&nbsp;&nbsp;KraneShares CSI China Internet ETF <sup>(A)(B)</sup> | 114300 | $3891915 |
| TOTAL EXCHANGE - TRADED FUND<br> (Cost $3,018,423) |  | 3891915 |
| **PURCHASED OPTION <sup>(C)</sup> — 3.9%** |  |  |
| TOTAL PURCHASED OPTION<br> (Cost $252,412) |  | 150076 |
| TOTAL INVESTMENTS — 106.0%<br> (Cost $3,270,835) |  | 4041991 |
| OTHER ASSETS LESS LIABILITIES – (6.0)% |  | (229829) |
| NET ASSETS - 100% |  | $3812162 |
| WRITTEN OPTIONS <sup>(C)</sup> — (6.3)%<br> (Premiums Received $(303588)) |  | $(238761) |

---

*(A)* *For financial information on the KraneShares CSI China Internet ETF, please go to the Fund's website at https://kraneshares.com/kweb/.* 

*(B)* *Affiliated Investment.* 

*(C)* *Refer to option table below.* 

Written options contracts outstanding as of December 31, 2025 were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Market<br> Value** |
| **PURCHASED OPTION — 3.9%** |  |  |  |  |  |
| Put Options |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;KWEB US\* | 1143 | $3891915 | $27.49 | 01/15/27 | $150076 |
| **WRITTEN OPTION — (6.3)%** |  |  |  |  |  |
| Call Options |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;KWEB US\* | (1143) | $(3891915) | $42.76 | 01/15/27 | (238761) |

---

*\** *KraneShares CSI China Internet ETF.*

Transactions with affiliated companies during the period ended December 31, 2025 are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value<br> as of<br> 3/31/2025** | **Purchases at<br> Cost** | **Proceeds<br> from Sale** | **Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | **Realized<br> Gain/(Loss)** | **Value<br> as of<br> 12/31/2025** | **Dividend<br> Income** | **Capital Gain<br> Distributions** |
| KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF |  |
| $4011159 | $26072 | $(44478) | $(113570) | $12732 | $3891915 | $242324 | $— |

---

Amounts designated as "—" are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent financial statements.

KRS-QH-044-0400

**Schedule of Investments (Unaudited)** *December 31, 2025*

**KraneShares 100% KWEB Defined Outcome January 2027 ETF**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EXCHANGE - TRADED FUND — 104.6%** |  |  |
| **Domestic Equity — 104.6%** |  |  |
| &nbsp;&nbsp;&nbsp;KraneShares CSI China Internet ETF <sup>(A)(B)</sup> | 86400 | $2941920 |
| TOTAL EXCHANGE - TRADED FUND<br> (Cost $2,109,888) |  | 2941920 |
| **PURCHASED OPTION <sup>(C)</sup> — 6.9%** |  |  |
| TOTAL PURCHASED OPTION<br> (Cost $298,103) |  | 193484 |
| TOTAL INVESTMENTS — 111.5%<br> (Cost $2,407,991) |  | 3135404 |
| OTHER ASSETS LESS LIABILITIES – (11.5)% |  | (324215) |
| NET ASSETS - 100% |  | $2811189 |
| WRITTEN OPTIONS <sup>(C)</sup> — (11.8)%<br> (Premiums Received $(292865)) |  | $(332044) |

---

*(A)* *For financial information on the KraneShares CSI China Internet ETF, please go to the Fund's website at https://kraneshares.com/kweb/.* 

*(B)* *Affiliated Investment.* 

*(C)* *Refer to option table below.* 

Written options contracts outstanding as of December 31, 2025 were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br> Contracts** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Market<br> Value** |
| **PURCHASED OPTION — 6.9%** |  |  |  |  |  |
| Put Options |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;KWEB US\* | 864 | $2941920 | $30.54 | 01/15/27 | $193484 |
| **WRITTEN OPTION — (11.8)%** |  |  |  |  |  |
| Call Options |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;KWEB US\* | (864) | $(2941920) | $36.65 | 01/15/27 | $(332044) |

---

*\** *KraneShares CSI China Internet ETF.*

Transactions with affiliated companies during the period ended December 31, 2025 are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value<br> as of<br> 3/31/2025** | **Purchases at<br> Cost** | **Proceeds<br> from Sale** | **Change in<br> Unrealized<br> Appreciation/<br> (Depreciation)** | **Realized<br> Gain/(Loss)** | **Value<br> as of<br> 12/31/2025** | **Dividend<br> Income** | **Capital Gain<br> Distributions** |
| KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF | KraneShares CSI China Internet ETF |
| $3100008 | $— | $(82411) | $(99480) | $23803 | $2941920 | $185936 | $— |

---

Amounts designated as "—" are $0 or have been rounded to $0.

See "Glossary" for abbreviations.

For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent financial statements.

KRS-QH-045-0400

**Schedule of Investments (Unaudited)** *December 31, 2025*

**Glossary (abbreviations which may be used in preceding Schedule of Investments):**

**Portfolio Abbreviations**

ETF — *Exchange-Traded Fund*

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Krane Shares Trust

- **b. Investment Company Act file number:** 811-22698

- **c. CIK number of Registrant:** 0001547576

- **d. LEI of Registrant:** 2549008E1DI99JHCCA80

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 280 Park Ave

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 2129330393

**Item A.2. Information about the Series.**

- **a. Name of Series:** KraneShares 100% KWEB Defined Outcome January 2027 ETF

- **b. EDGAR series identifier (if any):** S000083834

- **c. LEI of Series:** 2549000Y2QDHXTL52K66

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $3143914.42

**Total Liabilities:** $332724.93

**Net Assets:** $2811189.49

**Cash Not Reported:** $8371.43

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000247859 | 0.95%                | -0.85%               | -1.42%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $22525.05                | $-334373.00                                |
| Month 2  | $1278.00                 | $-212659.00                                |
| Month 3  | $0.00                    | $-182928.00                                |

**Designated Index Information**

- **Index Name:** KraneShares CSI China Internet ETF

- **Index Identifier:** KWEB

### Schedule of Portfolio Investments

| Name                               | Title                                  | Identifiers                  | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 2KWEB 01/15/2027                   | 2KWEB 01/15/2027 1/15/2027             | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               |  | US        |      -864 | NC      | $-332043.84   | -11.81%           |  |  |  | No            |                  1 | On Loan: No      |
| 2KWEB 01/15/2027                   | 2KWEB 01/15/2027 1/15/2027             | CUSIP: N/A<br>LEI: N/A       | N/A              | DE               |  | US        |       864 | NC      | $193484.16    | 6.88%             |  |  |  | No            |                  1 | On Loan: No      |
| KraneShares CSI China Internet ETF | KRANESH CSI CHINA INTERNET MUTUAL FUND | CUSIP: 500767306<br>LEI: N/A | Long             | EC               | RF                | US        |     86400 | NS      | $2941920.00   | 104.65%           |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

**Name of Applicant:** Krane Funds Advisors, LLC

**Signature:** Jonathan Krane

**Name of Signer:** Jonathan Krane

**Title:** CEO