Matthews Pacific Tiger Active ETF | March 31, 2024 |
Schedule of Investmentsa (unaudited)
COMMON EQUITIES: 95.5% | ||
Shares | Value | |
China/Hong Kong: 31.3% | ||
Tencent Holdings, Ltd. | 79,400 | $3,082,077 |
Meituan Class Bb,c,d | 178,700 | 2,210,218 |
China Resources Beer Holdings Co., Ltd. | 378,000 | 1,741,134 |
PetroChina Co., Ltd. H Shares | 1,634,000 | 1,396,733 |
Contemporary Amperex Technology Co., Ltd. A Shares | 49,500 | 1,287,065 |
China Merchants Bank Co., Ltd. A Shares | 276,400 | 1,225,077 |
AIA Group, Ltd. | 176,400 | 1,184,422 |
Alibaba Group Holding, Ltd. ADR | 13,842 | 1,001,607 |
Ping An Insurance Group Co. of China, Ltd. H Shares | 217,000 | 916,361 |
Trip.com Group, Ltd.c | 20,202 | 891,046 |
Wanhua Chemical Group Co., Ltd. A Shares | 77,700 | 860,967 |
Midea Group Co., Ltd. A Shares | 95,100 | 845,898 |
KE Holdings, Inc. ADR | 60,477 | 830,349 |
Sungrow Power Supply Co., Ltd. A Shares | 58,300 | 828,682 |
Wuliangye Yibin Co., Ltd. A Shares | 39,000 | 822,393 |
Shenzhen Inovance Technology Co., Ltd. A Shares | 95,300 | 790,579 |
ANTA Sports Products, Ltd. | 70,200 | 746,269 |
China International Capital Corp., Ltd. H Sharesb,d | 596,400 | 707,165 |
Innovent Biologics, Inc.b,c,d | 134,000 | 645,478 |
JD.com, Inc. ADR | 23,069 | 631,860 |
Airtac International Group | 18,000 | 624,307 |
SUPCON Technology Co., Ltd. A Shares | 94,611 | 604,122 |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. A Shares | 14,400 | 555,123 |
Tencent Music Entertainment Group ADRc | 44,846 | 501,827 |
Zhongji Innolight Co., Ltd. A Shares | 20,800 | 443,165 |
New Oriental Education & Technology Group, Inc. ADRc | 4,705 | 408,488 |
China Mengniu Dairy Co., Ltd. | 22,000 | 47,224 |
Total China/Hong Kong | 25,829,636 | |
India: 20.2% | ||
ICICI Bank, Ltd. ADR | 88,972 | 2,349,750 |
Cummins India, Ltd. | 44,204 | 1,593,337 |
Zomato, Ltd.c | 657,370 | 1,435,294 |
Shriram Finance, Ltd. | 49,098 | 1,389,420 |
Titan Co., Ltd. | 29,636 | 1,350,920 |
Tata Motors, Ltd. | 112,922 | 1,344,192 |
Indian Hotels Co., Ltd. | 171,595 | 1,216,251 |
Mahindra & Mahindra, Ltd. | 51,772 | 1,192,676 |
Tata Consultancy Services, Ltd. | 21,055 | 978,574 |
DLF, Ltd. | 82,054 | 882,497 |
Tata Consumer Products, Ltd. | 61,714 | 811,137 |
Lupin, Ltd. | 41,044 | 795,659 |
Power Grid Corp. of India, Ltd. | 205,668 | 682,827 |
HDFC Bank, Ltd. ADR | 11,170 | 625,185 |
Total India | 16,647,719 | |
Taiwan: 19.1% | ||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 59,105 | 8,041,235 |
MediaTek, Inc. | 25,000 | 906,151 |
Uni-President Enterprises Corp. | 342,000 | 816,436 |
Wistron Corp. | 214,000 | 805,756 |
Eclat Textile Co., Ltd. | 43,000 | 734,951 |
Shares | Value | |
Lite-On Technology Corp. | 221,000 | $731,982 |
ASE Technology Holding Co., Ltd. | 149,000 | 721,640 |
Accton Technology Corp. | 49,000 | 702,001 |
Alchip Technologies, Ltd. | 7,000 | 692,268 |
E Ink Holdings, Inc. | 78,000 | 553,252 |
ASPEED Technology, Inc. | 3,000 | 312,153 |
Faraday Technology Corp. | 23,733 | 248,057 |
Unimicron Technology Corp. | 41,000 | 243,411 |
M31 Technology Corp. | 6,000 | 240,911 |
Total Taiwan | 15,750,204 | |
South Korea: 15.8% | ||
Samsung Electronics Co., Ltd. | 64,119 | 3,848,331 |
Hyundai Motor Co. | 11,038 | 1,943,180 |
SK Hynix, Inc. | 14,428 | 1,909,801 |
HD Hyundai Electric Co., Ltd. | 7,830 | 1,039,347 |
Samsung SDI Co., Ltd. | 2,732 | 969,010 |
KB Financial Group, Inc. | 18,192 | 949,970 |
Samsung Fire & Marine Insurance Co., Ltd. | 3,626 | 832,263 |
LG Chem, Ltd. | 1,998 | 653,014 |
Samsung Biologics Co., Ltd.b,c,d | 845 | 522,849 |
Samsung C&T Corp. | 3,525 | 419,203 |
Total South Korea | 13,086,968 | |
Indonesia: 2.7% | ||
PT Bank Central Asia Tbk | 1,842,000 | 1,170,492 |
PT Bank Mandiri Persero Tbk | 2,419,000 | 1,106,134 |
Total Indonesia | 2,276,626 | |
Vietnam: 2.6% | ||
FPT Corp. | 283,900 | 1,340,782 |
Vietnam Dairy Products JSC | 283,600 | 774,339 |
Total Vietnam | 2,115,121 | |
Thailand: 2.2% | ||
Bangkok Dusit Medical Services Public Co., Ltd. F Shares | 1,328,600 | 1,028,652 |
CP ALL Public Co., Ltd. | 517,400 | 772,821 |
Total Thailand | 1,801,473 | |
Philippines: 1.0% | ||
SM Investments Corp. | 49,970 | 864,019 |
Total Philippines | 864,019 | |
Singapore: 0.6% | ||
Sembcorp Industries, Ltd. | 125,900 | 503,749 |
Total Singapore | 503,749 | |
TOTAL COMMON EQUITIES | 78,875,515 | |
(Cost $72,292,001) |
matthewsasia.com | 800.789.ASIA 1
Matthews Pacific Tiger Active ETF | March 31, 2024 |
Schedule of Investmentsa (unaudited) (continued)
SHORT-TERM INVESTMENTS: 4.4% | ||
Shares | Value | |
Money Market Funds: 4.4% | ||
JPMorgan U.S. Government Money Market Fund, Capital Shares, 5.20%e | 3,576,432 | $3,576,432 |
(Cost $3,576,432) | ||
Total Investments: 99.9% | 82,451,947 | |
(Cost $75,868,433) | ||
CASH AND OTHER ASSETS, LESS LIABILITIES: 0.1% | 123,024 | |
Net Assets: 100.0% | $82,574,971 |
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 $4,085,710, which is 4.95% 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. |
e | Rate shown is the current yield as of March 31, 2024. |
ADR | American Depositary Receipt |
JSC | Joint Stock Co. |
2 MATTHEWS ASIA FUNDS