Matthews Emerging Markets Equity Active ETF | March 31, 2024 |
Schedule of Investments (unaudited)
COMMON EQUITIES: 84.3% | ||
Shares | Value | |
China/Hong Kong: 22.0% | ||
Tencent Holdings, Ltd. | 67,300 | $2,612,390 |
Meituan Class Ba,b,c | 117,400 | 1,452,040 |
Trip.com Group, Ltd. ADRb | 27,381 | 1,201,752 |
Midea Group Co., Ltd. A Shares | 115,800 | 1,034,717 |
BYD Co., Ltd. A Shares | 33,500 | 961,480 |
JD.com, Inc. Class A | 63,450 | 874,759 |
China Merchants Bank Co., Ltd. A Shares | 189,500 | 839,914 |
Alibaba Group Holding, Ltd. | 90,100 | 808,735 |
Yum China Holdings, Inc. | 17,958 | 714,549 |
ANTA Sports Products, Ltd. | 60,200 | 639,963 |
Wuliangye Yibin Co., Ltd. A Shares | 29,600 | 624,175 |
Innovent Biologics, Inc.a,b,c | 83,500 | 402,219 |
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. A Shares | 9,600 | 370,082 |
PDD Holdings, Inc. ADRb | 1,854 | 215,527 |
Midea Group Co., Ltd. A Shares | 2,600 | 23,127 |
Total China/Hong Kong | 12,775,429 | |
India: 12.0% | ||
HDFC Bank, Ltd. ADR | 29,004 | 1,623,354 |
UltraTech Cement, Ltd. | 8,002 | 935,376 |
Indian Hotels Co., Ltd. | 122,111 | 865,513 |
Reliance Industries, Ltd. | 23,408 | 834,046 |
Varun Beverages, Ltd. | 41,433 | 694,802 |
Infosys, Ltd. ADR | 35,799 | 641,876 |
Shriram Finance, Ltd. | 19,240 | 544,471 |
Kotak Mahindra Bank, Ltd. | 25,326 | 542,185 |
ICICI Bank, Ltd. ADR | 10,947 | 289,110 |
Total India | 6,970,733 | |
Taiwan: 10.1% | ||
Taiwan Semiconductor Manufacturing Co., Ltd. | 179,000 | 4,301,123 |
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 7,031 | 956,567 |
ASPEED Technology, Inc. | 6,000 | 624,307 |
Total Taiwan | 5,881,997 | |
Brazil: 7.7% | ||
Banco BTG Pactual SA | 191,500 | 1,393,722 |
PRIO SA | 91,100 | 887,058 |
WEG SA | 112,100 | 855,494 |
MercadoLibre, Inc.b | 412 | 622,928 |
NU Holdings, Ltd. Class Ab | 39,159 | 467,167 |
Vale SA ADR | 22,970 | 280,004 |
Total Brazil | 4,506,373 | |
Vietnam: 5.6% | ||
FPT Corp. | 362,505 | 1,712,012 |
Military Commercial Joint Stock Bank | 933,105 | 959,636 |
HDBank | 589,818 | 576,854 |
Total Vietnam | 3,248,502 | |
Mexico: 5.5% | ||
GCC SAB de CV | 91,700 | 1,090,188 |
Grupo Financiero Banorte SAB de CV Class O | 91,500 | 970,888 |
BBB Foods, Inc. Class Ab | 25,453 | 605,273 |
Prologis Property Mexico SA de CV REIT | 126,965 | 555,776 |
Total Mexico | 3,222,125 |
Shares | Value | |
United States: 3.9% | ||
Freeport-McMoRan, Inc. | 25,888 | $1,217,253 |
Globant SAb | 5,232 | 1,056,341 |
Total United States | 2,273,594 | |
South Korea: 3.6% | ||
LG Chem, Ltd. | 2,059 | 672,951 |
SK Hynix, Inc. | 4,387 | 580,697 |
Hyundai Motor Co. | 3,088 | 543,626 |
KB Financial Group, Inc. | 5,998 | 313,210 |
Total South Korea | 2,110,484 | |
France: 2.5% | ||
TotalEnergies SE ADR | 13,156 | 905,527 |
LVMH Moet Hennessy Louis Vuitton SE | 589 | 530,334 |
Total France | 1,435,861 | |
Indonesia: 2.2% | ||
PT Bank Rakyat Indonesia Persero Tbk | 3,302,200 | 1,260,064 |
Total Indonesia | 1,260,064 | |
Kazakhstan: 2.0% | ||
Kaspi.KZ JSC ADR | 9,011 | 1,159,175 |
Total Kazakhstan | 1,159,175 | |
United Arab Emirates: 1.9% | ||
Emaar Properties PJSC | 273,456 | 606,902 |
Fertiglobe PLC | 660,263 | 503,441 |
Total United Arab Emirates | 1,110,343 | |
Poland: 1.6% | ||
Dino Polska SAa,b,c | 9,462 | 919,922 |
Total Poland | 919,922 | |
Philippines: 1.3% | ||
Ayala Corp. | 66,720 | 759,598 |
Total Philippines | 759,598 | |
Saudi Arabia: 1.2% | ||
Bupa Arabia for Cooperative Insurance Co. | 9,841 | 692,189 |
Total Saudi Arabia | 692,189 | |
Peru: 1.2% | ||
Credicorp, Ltd. | 4,025 | 681,956 |
Total Peru | 681,956 | |
TOTAL COMMON EQUITIES | 49,008,345 | |
(Cost $44,129,813) |
matthewsasia.com | 800.789.ASIA 1
Matthews Emerging Markets Equity Active ETF | March 31, 2024 |
Schedule of Investments (unaudited) (continued)
PREFERRED EQUITIES: 5.6% | ||
Shares | Value | |
South Korea: 5.6% | ||
Samsung Electronics Co., Ltd., Pfd. | 65,272 | $3,258,146 |
Total South Korea | 3,258,146 | |
TOTAL PREFERRED EQUITIES | 3,258,146 | |
(Cost $2,746,334) | ||
SHORT-TERM INVESTMENTS: 7.0% | ||
Money Market Funds: 7.0% | ||
JPMorgan U.S. Government Money Market Fund, Capital Shares, 5.20%d | 4,046,006 | 4,046,006 |
(Cost $4,046,006) | ||
Total Investments: 96.9% | 56,312,497 | |
(Cost $50,922,153) | ||
CASH AND OTHER ASSETS, LESS LIABILITIES: 3.1% | 1,782,752 | |
Net Assets: 100.0% | $58,095,249 |
a | 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 $2,774,181, which is 4.78% of net assets. |
b | Non-income producing security. |
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