GUINNESS ATKINSON ASIA PACIFIC DIVIDEND BUILDER FUND
Schedule of Investments
at March 31, 2020 (Unaudited)
Shares | Common Stocks: 96.2% | Value | ||||||
Australia: 11.4% | ||||||||
116,170 | Corporate Travel Management Ltd. | $ | 619,491 | |||||
32,246 | Janus Henderson Group PLC | 497,961 | ||||||
26,187 | JB Hi-Fi Ltd. | 448,012 | ||||||
28,638 | Sonic Healthcare Ltd. | 426,182 | ||||||
1,991,646 | ||||||||
China: 29.1% | ||||||||
92,000 | AAC Technologies Holdings Inc. | 470,855 | ||||||
573,000 | China Construction Bank Corp. - H Shares | 465,716 | ||||||
753,000 | China Lilang Ltd. | 434,446 | ||||||
435,000 | China Medical System Holdings - H Shares | 466,430 | ||||||
101,500 | China Merchants Bank Co., Ltd. - H Shares | 457,158 | ||||||
68,000 | China Mobile Ltd. | 508,865 | ||||||
94,000 | China Resources Gas Group Ltd. | 471,049 | ||||||
45,500 | Ping An Insurance Group Co of China Ltd - H Shares | 445,788 | ||||||
43,200 | Shenzhou International | 458,029 | ||||||
799,300 | Yangzijiang Shipbuilding Holdings Ltd. | 465,507 | ||||||
45,994 | Zhejiang Supor Cookware | 446,919 | ||||||
5,090,762 | ||||||||
Hong Kong: 5.3% | ||||||||
152,500 | BOC Hong Kong Holdings Ltd. | 421,245 | ||||||
48,000 | Link REIT/The | 404,755 | ||||||
45,000 | Luk Fook Holdings International Ltd. | 90,673 | ||||||
916,673 | ||||||||
India: 4.9% | ||||||||
62,880 | Godrej Consumer Products Ltd. | 433,363 | ||||||
56,580 | Tech Mahindra Ltd. | 423,918 | ||||||
857,281 | ||||||||
Malaysia: 3.1% | ||||||||
146,600 | Public Bank Bhd | 538,110 | ||||||
Singapore: 7.8% | ||||||||
240,968 | Ascendas Real Estate Investment Trust - REIT | 476,094 | ||||||
345,100 | CapitaLand Mall Trust - REIT | 432,709 | ||||||
35,264 | DBS Group Holdings Ltd. | 456,425 | ||||||
1,365,228 | ||||||||
South Korea: 5.1% | ||||||||
62,070 | Hanon Systems | 450,280 | ||||||
7,320 | KT&G Corp. | 446,954 | ||||||
897,234 |
Taiwan: 18.0% | ||||||||
69,000 | Catcher Technology Co., Ltd. | $ | 443,752 | |||||
132,000 | Elite Material Co., Ltd. | 459,664 | ||||||
188,517 | Hon Hai Precision Industry Co., Ltd. | 433,281 | ||||||
3,700 | Largan Precision Co., Ltd. | 461,882 | ||||||
78,000 | Novatek Microelectronics Corp. | 442,164 | ||||||
44,000 | St Shine Optical Co., Ltd. | 451,104 | ||||||
51,000 | Taiwan Semiconductor Manufacturing Co., Ltd. | 461,257 | ||||||
3,153,104 | ||||||||
Thailand: 5.4% | ||||||||
537,300 | PTT PCL/Foreign | 496,844 | ||||||
209,400 | Tisco Financial Group PCL/Foreign | 443,218 | ||||||
940,062 | ||||||||
United States: 6.1% | ||||||||
16,700 | Aflac Inc. | 571,808 | ||||||
7,200 | QUALCOMM Inc. | 487,080 | ||||||
1,058,888 | ||||||||
Total Common Stocks | 16,808,988 | |||||||
(cost $16,041,874) | ||||||||
Total Investments in Securities | 16,808,988 | |||||||
(cost $16,041,874): 96.2% | ||||||||
Other Assets less Liabilities: 3.8% | 667,297 | |||||||
Net Assets: 100.0% | $ | 17,476,285 |
PLC - Public Limited Company |
REIT - Real Estate Investment Trust |