The KraneShares CSI China Internet Fund (NasdaqGM: KWEB), the largest exchange traded fund exclusively devoted to Chinese Internet stocks, has added shares of newly public Alibaba (NYSE: BABA), making the Chinese e-commerce giant the ETF’s biggest holding.

KWEB, home to $112.3 million in assets under management as of Oct. 2, is the third ETF to add Alibaba to its roster, following the First Trust US IPO Index Fund (NYSEArca: FPX) and the Renaissance IPO ETF (NYSEArca: IPO). However, KWEB is the first dedicated Internet or technology fund and the first China ETF to add shares of Jack Ma’s company. [What Alibaba’s Valuation Means for ETFs]

With a market value of nearly $218 billion, Alibaba entered KWEB as the ETF’s largest holding, usurping Baidu (NasdaqGS: BIDU), China’s largest Internet search provider, for the top spot in the ETF. Baidu’s current mark value is just over $76 billion. The stock was almost 11.3% of KWEB’s at Thursday’s close, according to KraneShares data.

Other top holdings in KWEB include Tencent Holdings (OTC: TCEHY), JD.com (NasdaqGS: JD), Ctrip.com (NasdaqGS: CTRP) and Vipshop Holdings (NYSE: VIPS).

We are excited to become shareholders in one of the world’s most innovative and dynamic companies. Alibaba’s IPO is a demonstration of the company’s historic success. We believe that the China Internet sector is a very attractive investment opportunity right now,” said Jonathan Krane, CEO of KraneShares, in a statement.

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