Matthews Emerging Markets ex China Active ETF | March 31, 2024 |
Schedule of Investments (unaudited)
COMMON EQUITIES: 85.1% | ||
Shares | Value | |
India: 17.8% | ||
HDFC Bank, Ltd. ADR | 6,744 | $377,462 |
Reliance Industries, Ltd. | 7,304 | 260,248 |
UltraTech Cement, Ltd. | 1,974 | 230,746 |
Kotak Mahindra Bank, Ltd. | 10,717 | 229,432 |
Indian Hotels Co., Ltd. | 30,018 | 212,765 |
Shriram Finance, Ltd. | 6,023 | 170,444 |
Hindustan Unilever, Ltd. | 5,854 | 158,934 |
Varun Beverages, Ltd. | 8,654 | 145,122 |
Infosys, Ltd. ADR | 7,555 | 135,461 |
ICICI Bank, Ltd. ADR | 4,603 | 121,565 |
Lupin, Ltd. | 6,015 | 116,604 |
Total India | 2,158,783 | |
Taiwan: 12.3% | ||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 9,457 | 1,286,625 |
ASPEED Technology, Inc. | 2,000 | 208,102 |
Total Taiwan | 1,494,727 | |
Brazil: 11.2% | ||
Banco BTG Pactual SA | 44,800 | 326,051 |
PRIO SA | 25,200 | 245,377 |
NU Holdings, Ltd. Class Aa | 18,002 | 214,764 |
WEG SA | 26,500 | 202,236 |
MercadoLibre, Inc.a | 96 | 145,148 |
Armac Locacao Logistica E Servicos SA | 54,200 | 136,324 |
Vale SA ADR | 6,974 | 85,013 |
Total Brazil | 1,354,913 | |
Mexico: 6.2% | ||
GCC SAB de CV | 21,200 | 252,039 |
Grupo Financiero Banorte SAB de CV Class O | 21,200 | 224,949 |
Prologis Property Mexico SA de CV REIT | 34,781 | 152,250 |
BBB Foods, Inc. Class Aa | 5,359 | 127,437 |
Total Mexico | 756,675 | |
South Korea: 6.1% | ||
Kia Corp. | 2,475 | 205,905 |
SK Hynix, Inc. | 1,191 | 157,650 |
LG Chem, Ltd. | 444 | 145,114 |
KB Financial Group, Inc. | 2,276 | 118,851 |
Hyundai Motor Co. | 633 | 111,436 |
Total South Korea | 738,956 | |
United States: 5.1% | ||
Freeport-McMoRan, Inc. | 5,359 | 251,980 |
Globant SAa | 1,240 | 250,356 |
Applied Materials, Inc. | 575 | 118,582 |
Total United States | 620,918 | |
Vietnam: 4.4% | ||
FPT Corp. | 62,820 | 296,681 |
Military Commercial Joint Stock Bank | 121,080 | 124,523 |
HDBank | 115,700 | 113,157 |
Total Vietnam | 534,361 |
Shares | Value | |
United Arab Emirates: 2.5% | ||
Emaar Properties PJSC | 78,870 | $175,043 |
Fertiglobe PLC | 164,116 | 125,136 |
Total United Arab Emirates | 300,179 | |
Indonesia: 2.2% | ||
PT Bank Rakyat Indonesia Persero Tbk | 716,700 | 273,481 |
Total Indonesia | 273,481 | |
Poland: 2.2% | ||
Dino Polska SAa,b,c | 2,696 | 262,113 |
Total Poland | 262,113 | |
Kazakhstan: 2.1% | ||
Kaspi.KZ JSC ADR | 2,000 | 257,280 |
Total Kazakhstan | 257,280 | |
Argentina: 2.1% | ||
Despegar.com Corp.a | 21,125 | 252,655 |
Total Argentina | 252,655 | |
France: 2.0% | ||
TotalEnergies SE ADR | 1,786 | 122,930 |
LVMH Moet Hennessy Louis Vuitton SE | 135 | 121,554 |
Total France | 244,484 | |
Philippines: 1.8% | ||
Ayala Corp. | 19,030 | 216,654 |
Total Philippines | 216,654 | |
Chile: 1.7% | ||
Antofagasta PLC | 7,920 | 204,001 |
Total Chile | 204,001 | |
Saudi Arabia: 1.4% | ||
Bupa Arabia for Cooperative Insurance Co. | 2,371 | 166,770 |
Total Saudi Arabia | 166,770 | |
Turkey: 1.2% | ||
BIM Birlesik Magazalar AS | 13,977 | 151,858 |
Total Turkey | 151,858 | |
Peru: 1.2% | ||
Credicorp, Ltd. | 852 | 144,354 |
Total Peru | 144,354 | |
Spain: 1.1% | ||
Banco Bilbao Vizcaya Argentaria SA | 11,127 | 132,670 |
Total Spain | 132,670 | |
South Africa: 0.5% | ||
Anglo American PLC | 2,442 | 60,210 |
Total South Africa | 60,210 | |
TOTAL COMMON EQUITIES | 10,326,042 | |
(Cost $8,985,528) |
matthewsasia.com | 800.789.ASIA 1
Matthews Emerging Markets ex China Active ETF | March 31, 2024 |
Schedule of Investments (unaudited) (continued)
PREFERRED EQUITIES: 6.4% | ||
Shares | Value | |
South Korea: 6.4% | ||
Samsung Electronics Co., Ltd., Pfd. | 15,542 | $775,801 |
Total South Korea | 775,801 | |
TOTAL PREFERRED EQUITIES | 775,801 | |
(Cost $689,426) | ||
SHORT-TERM INVESTMENTS: 8.5% | ||
Money Market Funds: 8.5% | ||
JPMorgan U.S. Government Money Market Fund, Capital Shares, 5.20%d | 1,035,157 | 1,035,157 |
(Cost $1,035,157) | ||
Total Investments: 100.0% | 12,137,000 | |
(Cost $10,710,111) | ||
CASH AND OTHER ASSETS, LESS LIABILITIES: 0.0% | 4,104 | |
Net Assets: 100.0% | $12,141,104 |
a | Non-income producing security. |
b | 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 March 31, 2024, the aggregate value is $262,113, which is 2.16% of net assets. |
c | The securities may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
d | Rate shown is the current yield as of March 31, 2024. |
ADR | American Depositary Receipt |
JSC | Joint Stock Co. |
Pfd. | Preferred |
PJSC | Public Joint Stock Co. |
REIT | Real Estate Investment Trust |
2 MATTHEWS ASIA FUNDS