Matthews Emerging Markets Sustainable Future Fund | March 31, 2024 |
Schedule of Investmentsa (unaudited)
COMMON EQUITIES: 96.1% | ||
Shares | Value | |
China/Hong Kong: 38.1% | ||
Meituan Class Bb,c,d | 1,077,000 | $13,294,590 |
Full Truck Alliance Co., Ltd. ADRc | 1,657,847 | 12,052,548 |
JD Health International, Inc.b,c,d | 2,993,750 | 10,639,005 |
Hong Kong Exchanges & Clearing, Ltd. | 287,100 | 8,365,598 |
Legend Biotech Corp. ADRc | 111,336 | 6,244,836 |
Lam Research Corp. | 6,331 | 6,151,010 |
Contemporary Amperex Technology Co., Ltd. A Shares | 224,400 | 5,838,809 |
Flat Glass Group Co., Ltd. H Shares | 2,378,000 | 5,788,230 |
Airtac International Group | 148,000 | 5,131,046 |
Zhihu, Inc. ADRc | 5,177,263 | 3,540,730 |
Medlive Technology Co., Ltd.b,d | 2,874,500 | 2,776,784 |
Ginlong Technologies Co., Ltd. A Shares | 232,700 | 1,910,694 |
Silergy Corp. | 153,000 | 1,565,149 |
Centre Testing International Group Co., Ltd. A Shares | 709,000 | 1,237,295 |
Innovent Biologics, Inc.b,c,d | 204,000 | 984,301 |
Ginlong Technologies Co., Ltd. A Shares | 84,600 | 691,315 |
Wuxi Biologics Cayman, Inc.b,c,d | 348,500 | 637,533 |
Total China/Hong Kong | 86,849,473 | |
India: 19.6% | ||
Shriram Finance, Ltd. | 462,950 | 13,133,136 |
Bandhan Bank, Ltd.b,d | 5,520,805 | 11,963,317 |
Indus Towers, Ltd.c | 2,060,922 | 7,208,657 |
Phoenix Mills, Ltd. | 160,257 | 5,347,120 |
Mahindra & Mahindra, Ltd. | 156,610 | 3,617,904 |
Inox Wind, Ltd.c | 415,346 | 2,601,686 |
UNO Minda, Ltd. | 100,572 | 828,323 |
Marico, Ltd. | 14,497 | 86,598 |
Total India | 44,786,741 | |
Taiwan: 10.1% | ||
M31 Technology Corp. | 155,501 | 6,253,844 |
Elite Material Co., Ltd. | 313,000 | 3,943,793 |
Andes Technology Corp. | 275,000 | 3,654,353 |
AURAS Technology Co., Ltd. | 130,000 | 2,679,580 |
Poya International Co., Ltd. | 167,731 | 2,608,601 |
AP Memory Technology Corp. | 186,000 | 2,254,659 |
Sporton International, Inc. | 176,270 | 1,418,761 |
Formosa Sumco Technology Corp. | 39,000 | 200,613 |
Total Taiwan | 23,014,204 | |
Brazil: 6.3% | ||
B3 SA - Brasil Bolsa Balcao | 2,565,200 | 6,132,461 |
YDUQS Participacoes SA | 1,386,200 | 5,005,400 |
NU Holdings, Ltd. Class Ac | 268,611 | 3,204,529 |
Total Brazil | 14,342,390 | |
South Korea: 5.4% | ||
Eugene Technology Co., Ltd. | 123,291 | 3,898,232 |
Solus Advanced Materials Co., Ltd. | 222,213 | 2,897,649 |
Advanced Nano Products Co., Ltd. | 23,624 | 2,319,303 |
Ecopro BM Co., Ltd.c | 8,699 | 1,795,545 |
Samsung SDI Co., Ltd. | 3,952 | 1,401,593 |
Total South Korea | 12,312,322 |
Shares | Value | |
United States: 4.1% | ||
Micron Technology, Inc. | 80,084 | $9,441,103 |
Total United States | 9,441,103 | |
Saudi Arabia: 3.2% | ||
Saudi Tadawul Group Holding Co. | 100,195 | 7,301,205 |
Total Saudi Arabia | 7,301,205 | |
Poland: 3.0% | ||
InPost SAc | 246,113 | 3,790,540 |
Jeronimo Martins SGPS SA | 148,116 | 2,938,665 |
Total Poland | 6,729,205 | |
Vietnam: 1.5% | ||
Nam Long Investment Corp. | 1,978,039 | 3,495,555 |
Total Vietnam | 3,495,555 | |
Romania: 1.3% | ||
Banca Transilvania SA | 498,798 | 3,014,618 |
Total Romania | 3,014,618 | |
Jordan: 1.2% | ||
Hikma Pharmaceuticals PLC | 111,164 | 2,689,169 |
Total Jordan | 2,689,169 | |
Turkey: 1.0% | ||
Ford Otomotiv Sanayi AS | 66,526 | 2,379,585 |
Total Turkey | 2,379,585 | |
Chile: 0.5% | ||
Aguas Andinas SA Class A | 4,245,623 | 1,239,319 |
Total Chile | 1,239,319 | |
Bangladesh: 0.5% | ||
BRAC Bank PLC | 1,564,449 | 574,463 |
GrameenPhone, Ltd. | 214,290 | 460,406 |
Total Bangladesh | 1,034,869 | |
Estonia: 0.3% | ||
Enefit Green AS | 164,011 | 555,602 |
Total Estonia | 555,602 | |
TOTAL COMMON EQUITIES | 219,185,360 | |
(Cost $200,439,125) |
matthewsasia.com | 800.789.ASIA 1
Matthews Emerging Markets Sustainable Future Fund | March 31, 2024 |
Schedule of Investmentsa (unaudited) (continued)
PREFERRED EQUITIES: 4.4% | ||
Shares | Value | |
South Korea: 4.4% | ||
Samsung SDI Co., Ltd., Pfd. | 50,042 | $10,087,100 |
Total South Korea | 10,087,100 | |
TOTAL PREFERRED EQUITIES | 10,087,100 | |
(Cost $12,329,856) | ||
Total Investments: 100.5% | 229,272,460 | |
(Cost $212,768,981) | ||
LIABILITIES IN EXCESS OF CASH AND OTHER ASSETS: (0.5%) | (1,221,220) | |
Net Assets: 100.0% | $228,051,240 |
a | Certain securities were fair valued under the valuation policies approved by the Board of Trustees. |
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 $40,295,530, which is 17.67% of net assets. |
c | Non-income producing security. |
d | The securities may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
ADR | American Depositary Receipt |
Pfd. | Preferred |
Other information regarding the Fund is available in the Funds’ most recent report to shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
2 MATTHEWS ASIA FUNDS