VEMAX Holdings List

As of May 31, 2025

No.	Symbol	Name	% Weight	Shares
1	TPE: 2330	Taiwan Semiconductor Manufacturing Company Limited	8.20%	307,963,605
2	HKG: 0700	Tencent Holdings Limited	4.14%	78,598,444
3	BABAF	Alibaba Group Holding Limited	2.58%	217,477,960
4	n/a	Mktliq 12/31/2049	1.76%	21,132,423
5	n/a	Slcmt1142	1.49%	17,843,302
6	NSE: HDFCBANK	HDFC Bank Limited	1.37%	72,134,735
7	NSE: RELIANCE	Reliance Industries Limited	1.18%	85,137,327
8	HKG: 1810	Xiaomi Corporation	1.18%	218,764,600
9	HKG: 3690	Meituan	1.02%	70,547,386
10	NSE: ICICIBANK	ICICI Bank Limited	0.95%	67,074,777
11	HKG: 0939	China Construction Bank Corporation	0.89%	1,197,681,103
12	PDD	PDD Holdings Inc.	0.73%	9,062,930
13	NSE: INFY	Infosys Limited	0.69%	44,925,909
14	BY6.DE	BYD Co Ltd Class H	0.65%	15,724,316
15	TPE: 2454	MediaTek Inc.	0.65%	18,983,630
16	TPE: 2317	Hon Hai Precision Industry Co., Ltd.	0.65%	152,968,761
17	NSE: BHARTIARTL	Bharti Airtel Limited	0.62%	34,289,433
18	IDCBF	Industrial and Commercial Bank of China Limited	0.61%	1,009,590,614
19	HKG: 3988	Bank of China Limited	0.52%	1,072,158,735
20	TADAWUL: 1120	Al Rajhi Banking and Investment Corporation	0.51%	25,131,024
21	JSE: NPN	Naspers Limited	0.50%	2,084,656
22	HKG: 9999	NetEase, Inc.	0.47%	23,058,411
23	NSE: TCS	Tata Consultancy Services Limited	0.45%	13,225,517
24	HKG: 9618	JD.com, Inc.	0.44%	32,644,743
25	HKG: 9961	Trip.com Group Limited	0.42%	7,961,853
26	TADAWUL: 2222	Saudi Arabian Oil Company	0.41%	73,721,647
27	HKG: 2318	Ping An Insurance (Group) Company of China, Ltd.	0.41%	83,136,813
28	BVMF: VALE3	Vale S.A.	0.35%	46,649,957
29	IDX: BBCA	PT Bank Central Asia Tbk	0.34%	709,597,450
30	NSE: AXISBANK	Axis Bank Limited	0.34%	29,262,137
31	NSE: M&M	Mahindra & Mahindra Limited	0.33%	11,281,248
32	BAF.NS	Bajaj Finance Ltd	0.32%	3,582,922
33	KWSE: KFH	Kuwait Finance House K.S.C.P.	0.32%	157,538,364
34	BVMF: ITUB4	Itaú Unibanco Holding S.A.	0.32%	57,805,246
35	NSE: LT	Larsen & Toubro Limited	0.31%	8,635,133
36	BVMF: PETR4	Petróleo Brasileiro S.A. - Petrobras	0.31%	67,902,206
37	TADAWUL: 1180	The Saudi National Bank	0.29%	37,308,011
38	TPE: 2308	Delta Electronics, Inc.	0.28%	27,687,356
39	NSE: KOTAKBANK	Kotak Mahindra Bank Limited	0.28%	13,995,401
40	KWSE: NBK	National Bank of Kuwait S.A.K.P.	0.27%	105,769,323
41	BMV: GFNORTEO	Grupo Financiero Banorte, S.A.B. de C.V.	0.27%	36,967,540
42	NSE: HINDUNILVR	Hindustan Unilever Limited	0.26%	11,342,915
43	EMAAR.DB	Emaar Properties PJSC	0.26%	86,073,088
44	TPE: 2382	Quanta Computer Inc.	0.25%	34,041,200
45	M4B.DE	China Merchants Bank Co Ltd Class H	0.25%	48,574,795
46	HKG: 9888	Baidu, Inc.	0.24%	28,475,665
47	TPE: 2891	CTBC Financial Holding Co., Ltd.	0.24%	209,870,062
48	AU	AngloGold Ashanti plc	0.23%	6,394,572
49	TPE: 2881	Fubon Financial Holding Co., Ltd.	0.23%	104,178,766
50	NSE: SUNPHARMA	Sun Pharmaceutical Industries Limited	0.23%	13,936,265

As of May 31, 2025

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Asset Allocation

Asset Class	% Weight
Stocks	96.69%
Cash	3.30%
Other	0.02%

Sector Breakdown

Sector	% Weight
Other	21.36%
Financials	16.08%
Information Technology	12.96%
Consumer Discretionary	8.78%
Materials	8.76%
Consumer Staples	6.37%
Industrials	6.37%
Communication Services	6.17%
Energy	4.08%
Health Care	3.76%
Utilities	3.19%
Real Estate	2.12%

Country Breakdown

Sector	% Weight
China	23.09%
India	18.96%
Taiwan	14.10%
Brazil	7.01%
Saudi Arabia	5.29%
South Africa	3.80%
Other	3.12%
Thailand	3.02%
Mexico	2.91%
Cayman Islands	2.83%
Indonesia	2.40%
United States	2.05%
Malaysia	1.97%
United Arab Emirates	1.76%
Hong Kong	1.63%
Qatar	1.35%
Kuwait	1.11%
Turkey	0.90%
Philippines	0.83%
Chile	0.64%
Greece	0.36%
Hungary	0.17%
Czechia	0.14%
Colombia	0.13%
Egypt	0.10%
Romania	0.07%
Pakistan	0.06%
Luxembourg	0.04%
Netherlands	0.04%
Iceland	0.04%
Canada	0.03%
Singapore	0.03%
Isle of Man	0.01%
Bahrain	0.01%