Matthews Emerging Markets ex China Active ETF | September 30, 2023 | |
Schedule of Investmentsa (unaudited) | ||
COMMON EQUITIES: 91.8% |
Shares | Value | |||||||
INDIA: 20.0% | ||||||||
HDFC Bank, Ltd. ADR | 4,435 | $261,710 | ||||||
Infosys, Ltd. ADR | 12,785 | 218,751 | ||||||
ICICI Bank, Ltd. ADR | 8,526 | 197,121 | ||||||
Restaurant Brands Asia, Ltd.b | 87,697 | 131,692 | ||||||
UltraTech Cement, Ltd. | 1,316 | 130,819 | ||||||
Dabur India, Ltd. | 18,737 | 124,460 | ||||||
PI Industries, Ltd. | 2,615 | 108,736 | ||||||
Indian Hotels Co., Ltd. | 20,745 | 102,699 | ||||||
Kotak Mahindra Bank, Ltd. | 4,272 | 89,292 | ||||||
Hindustan Unilever, Ltd. | 1,846 | 54,810 | ||||||
|
| |||||||
Total India | 1,420,090 | |||||||
|
| |||||||
BRAZIL: 10.4% | ||||||||
Banco BTG Pactual SA | 31,200 | 193,675 | ||||||
Vinci Partners Investments, Ltd. Class A | 13,048 | 133,090 | ||||||
Vale SA ADR | 8,988 | 120,439 | ||||||
Hapvida Participacoes e Investimentos SAb,c,d | 126,100 | 118,411 | ||||||
Armac Locacao Logistica E Servicos SA | 36,000 | 92,352 | ||||||
WEG SA | 11,500 | 83,334 | ||||||
|
| |||||||
Total Brazil | 741,301 | |||||||
|
| |||||||
MEXICO: 10.0% | ||||||||
Prologis Property Mexico SA de CV REIT | 72,900 | 251,481 | ||||||
GCC SAB de CV | 14,900 | 140,550 | ||||||
Grupo Financiero Banorte SAB de CV Class O | 14,200 | 119,387 | ||||||
Becle SAB de CV | 46,200 | 110,326 | ||||||
Grupo Aeroportuario del Sureste SAB de CV ADR | 363 | 89,193 | ||||||
|
| |||||||
Total Mexico | 710,937 | |||||||
|
| |||||||
TAIWAN: 8.9% | ||||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 7,276 | 632,284 | ||||||
|
| |||||||
Total Taiwan | 632,284 | |||||||
|
| |||||||
VIETNAM: 6.2% | ||||||||
FPT Corp. | 77,620 | 296,364 | ||||||
Military Commercial Joint Stock Bank | 121,080 | 92,161 | ||||||
HDBank | 76,600 | 54,681 | ||||||
|
| |||||||
Total Vietnam | 443,206 | |||||||
|
| |||||||
UNITED STATES: 5.4% | ||||||||
Globant SAb | 827 | 163,622 | ||||||
Applied Materials, Inc. | 1,060 | 146,757 | ||||||
Freeport-McMoRan, Inc. | 1,919 | 71,560 | ||||||
|
| |||||||
Total United States | 381,939 | |||||||
|
| |||||||
FRANCE: 4.2% | ||||||||
TotalEnergies SE ADR | 3,064 | 201,489 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 127 | 96,328 | ||||||
|
| |||||||
Total France | 297,817 | |||||||
|
| |||||||
PHILIPPINES: 3.3% | ||||||||
Wilcon Depot, Inc. | 311,200 | 121,013 | ||||||
Ayala Corp. | 10,480 | 115,588 | ||||||
|
| |||||||
Total Philippines | 236,601 | |||||||
|
|
Shares | Value | |||||||
AUSTRALIA: 3.1% | ||||||||
Woodside Energy Group, Ltd. | 9,449 | $ | 222,530 | |||||
|
| |||||||
Total Australia | 222,530 | |||||||
|
| |||||||
UNITED ARAB EMIRATES: 2.8% | ||||||||
Fertiglobe PLC | 109,411 | 103,958 | ||||||
Americana Restaurants International PLC | 89,142 | 99,504 | ||||||
|
| |||||||
Total United Arab Emirates | 203,462 | |||||||
|
| |||||||
SOUTH KOREA: 2.8% | ||||||||
LG Chem, Ltd. | 297 | 109,278 | ||||||
Kia Corp. | 1,475 | 88,977 | ||||||
|
| |||||||
Total South Korea | 198,255 | |||||||
|
| |||||||
UNITED KINGDOM: 2.3% | ||||||||
Prudential PLC | 15,394 | 166,998 | ||||||
|
| |||||||
Total United Kingdom | 166,998 | |||||||
|
| |||||||
INDONESIA: 2.3% | ||||||||
PT Bank Rakyat Indonesia Persero Tbk | 478,000 | 161,601 | ||||||
|
| |||||||
Total Indonesia | 161,601 | |||||||
|
| |||||||
KAZAKHSTAN: 1.8% | ||||||||
Kaspi.KZ JSC GDRd | 1,335 | 129,228 | ||||||
|
| |||||||
Total Kazakhstan | 129,228 | |||||||
|
| |||||||
POLAND: 1.7% | ||||||||
Dino Polska SAb,c,d | 1,489 | 121,097 | ||||||
|
| |||||||
Total Poland | 121,097 | |||||||
|
| |||||||
SWITZERLAND: 1.5% | ||||||||
Cie Financiere Richemont SA Class A | 856 | 104,801 | ||||||
|
| |||||||
Total Switzerland | 104,801 | |||||||
|
| |||||||
ZAMBIA: 1.3% | ||||||||
First Quantum Minerals, Ltd. | 3,800 | 90,194 | ||||||
|
| |||||||
Total Zambia | 90,194 | |||||||
|
| |||||||
SINGAPORE: 1.2% | ||||||||
CapitaLand Investment, Ltd. | 36,400 | 82,673 | ||||||
CapitaLand Ascott Trust | 2,677 | 1,883 | ||||||
|
| |||||||
Total Singapore | 84,556 | |||||||
|
| |||||||
THAILAND: 1.1% | ||||||||
Bangkok Dusit Medical Services Public Co., Ltd. F Shares | 104,900 | 76,671 | ||||||
|
| |||||||
Total Thailand | 76,671 | |||||||
|
| |||||||
TURKEY: 0.8% | ||||||||
BIM Birlesik Magazalar AS | 5,695 | 57,064 | ||||||
|
| |||||||
Total Turkey | 57,064 | |||||||
|
| |||||||
1 | MATTHEWS ASIA FUNDS |
Matthews Emerging Markets ex China Active ETF | September 30, 2023 | |
Schedule of Investmentsa (unaudited) (continued) |
COMMON EQUITIES (continued)
Shares | Value | |||||||
CHILE: 0.7% | ||||||||
Antofagasta PLC | 2,853 | $49,761 | ||||||
|
| |||||||
Total Chile | 49,761 | |||||||
|
| |||||||
TOTAL COMMON EQUITIES |
| 6,530,393 | ||||||
|
| |||||||
(Cost $6,592,681) | ||||||||
PREFERRED EQUITIES: 5.7% |
| |||||||
SOUTH KOREA: 5.7% | ||||||||
Samsung Electronics Co., Ltd., Pfd. | 10,026 | 404,933 | ||||||
|
| |||||||
Total South Korea | 404,933 | |||||||
|
| |||||||
TOTAL PREFERRED EQUITIES |
| 404,933 | ||||||
|
| |||||||
(Cost $437,069) | ||||||||
SHORT-TERM INVESTMENTS: 2.2% |
| |||||||
MONEY MARKET FUNDS: 2.2% | ||||||||
JPMorgan U.S. Government Money Market Fund, Capital Shares, 5.22%e | 160,383 | 160,383 | ||||||
|
| |||||||
(Cost $160,383) | ||||||||
TOTAL INVESTMENTS: 99.7% | 7,095,709 | |||||||
(Cost $7,190,133) | ||||||||
CASH AND OTHER ASSETS, LESS LIABILITIES: 0.3% | 18,323 | |||||||
|
| |||||||
NET ASSETS: 100.0% | $ | 7,114,032 | ||||||
|
|
a | Certain securities were fair valued under the valuation policies approved by the Board of Trustees. |
b | Non-income producing security. |
c | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration normally to qualified institutional buyers. The security has been determined to be liquid in accordance with procedures adopted by the Funds’ Board of Trustees. At September 30, 2023, the aggregate value is $239,508, which is 3.37% of net assets. |
d | The securities may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
e | Rate shown is the current yield as of September 30, 2023. |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
JSC | Joint Stock Co. |
Pfd. | Preferred |
REIT | Real Estate Investment Trust |
matthewsasia.com | 800.789.ASIA | 2 |