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Matthews Asia Dividend Fund      March 31, 2021  
Schedule of Investmentsa (unaudited)   

COMMON EQUITIES: 93.7%

 

      Shares      Value 
     

JAPAN: 30.6%

      

Lixil Corp.

      4,632,900        $128,930,241  

KATITAS Co., Ltd.†

     4,186,900        117,006,975  

Anritsu Corp.

      4,887,900        106,985,096  

MISUMI Group, Inc.

      3,545,400        103,275,873  

Dai-ichi Life Holdings, Inc.

      5,932,600        101,980,927  

ORIX Corp.

      5,448,100        92,142,545  

BELLSYSTEM24 Holdings, Inc.†

     5,045,500        86,444,489  

Daifuku Co., Ltd.

      841,200        82,664,091  

Nintendo Co., Ltd.

      145,100        81,783,514  

Oriental Land Co., Ltd.

      531,100        79,920,564  

Olympus Corp.

      3,801,900        78,866,220  

Disco Corp.

      248,100        78,400,599  

Bandai Namco Holdings, Inc.

      1,087,500        77,742,592  

Hoya Corp.

      614,400        72,312,932  

Shiseido Co., Ltd.

      1,033,300        69,493,750  

TDK Corp.

      498,600        69,408,986  

AGC, Inc.

      1,276,900        53,597,959  

MANI, INC.

      2,038,000        51,295,039  

Japan Steel Works, Ltd.

      2,074,900        49,429,644  

Mitsubishi Pencil Co., Ltd.

      2,403,000        34,782,074  

Pigeon Corp.

      791,200        30,001,654  
     

 

 

 

Total Japan

           1,646,465,764  
     

 

 

 

     
     

CHINA/HONG KONG: 25.9%

      

Minth Group, Ltd.†

     61,819,000        258,984,101  

Tencent Holdings, Ltd.

      1,849,600        147,612,054  

Link REIT

      12,912,300        117,808,508  

Postal Savings Bank of China Co., Ltd. H Sharesb,c

     145,712,000        109,202,992  

Shenzhou International Group Holdings, Ltd.

      5,008,700        104,764,732  

Pharmaron Beijing Co., Ltd. A Shares

      3,819,564        87,611,088  

AIA Group, Ltd.

      6,731,800        82,375,492  

China Education Group Holdings, Ltd.c

     44,063,000        78,616,087  

HKBN, Ltd.

      46,397,623        67,581,596  

OPT Machine Vision Tech Co., Ltd. A Sharesd

     1,765,748        64,057,189  

MINISO Group Holding, Ltd. ADRd

     2,581,900        62,017,238  

Yuexiu Transport Infrastructure, Ltd.†

     93,902,000        59,350,192  

Jinxin Fertility Group, Ltd.b,c

     26,764,000        57,890,390  

Baidu, Inc. ADRd

     245,300        53,365,015  

Pharmaron Beijing Co., Ltd. H Sharesb,c

     1,609,500        30,596,325  

Chongqing Brewery Co., Ltd. A Shares

      633,258        10,783,835  
     

 

 

 

Total China/Hong Kong

         1,392,616,834  
     

 

 

 

     
     

AUSTRALIA: 9.4%

      

Breville Group, Ltd.†

     7,461,473        153,598,098  

QBE Insurance Group, Ltd.

      12,339,933        90,371,778  

Sydney Airportd

     18,253,479        86,252,075  

Macquarie Group, Ltd.

      668,330        77,913,125  

IDP Education, Ltd.

      3,940,856        71,707,472  

Treasury Wine Estates, Ltd.

      3,202,034        25,238,536  
     

 

 

 

Total Australia

         505,081,084  
     

 

 

 

     
     

SOUTH KOREA: 9.0%

      

POSCO

      503,142        142,568,422  

Hyundai Mobis Co., Ltd.

      449,593        116,620,783  

KB Financial Group, Inc.

      1,880,798        92,699,956  

Hugel, Inc.d

     445,972        70,537,009  
      Shares      Value 

Samsung Electronics Co., Ltd.

      870,241        $62,957,257  
     

 

 

 

Total South Korea

         485,383,427  
     

 

 

 

     
     

SINGAPORE: 5.4%

      

BOC Aviation, Ltd.b,c

     8,865,900        86,282,885  

Keppel DC, REIT

      38,579,180        77,472,654  

NetLink NBN Trustc

     93,023,700        65,397,556  

Ascendas India Trust

      57,288,600        63,119,670  
     

 

 

 

Total Singapore

         292,272,765  
     

 

 

 

     
     

TAIWAN: 4.0%

      

Taiwan Semiconductor Manufacturing Co., Ltd.

      5,242,469        110,402,265  

Taiwan Semiconductor Manufacturing Co., Ltd. ADR

      885,740        104,765,327  
     

 

 

 

Total Taiwan

         215,167,592  
     

 

 

 

     
     

INDIA: 2.9%

      

Minda Industries, Ltd.†

     13,619,268        101,340,045  

Reliance Industries, Ltd.

      2,034,882        55,951,576  
     

 

 

 

Total India

         157,291,621  
     

 

 

 

     
     

VIETNAM: 2.6%

      

Hoa Phat Group JSC

      25,694,500        52,199,150  

Asia Commercial Bank JSCd

     21,080,300        30,503,549  

Vinhomes JSCb,d

     6,929,900        29,313,601  

Vietnam Dairy Products JSC

      6,241,900        26,676,771  
     

 

 

 

Total Vietnam

         138,693,071  
     

 

 

 

     
     

INDONESIA: 1.6%

      

PT Bank Rakyat Indonesia Perserod

     282,382,100        85,670,301  
     

 

 

 

Total Indonesia

         85,670,301  
     

 

 

 

     
     

PHILIPPINES: 1.3%

      

Globe Telecom, Inc.

      1,829,305        70,932,617  
     

 

 

 

Total Philippines

         70,932,617  
     

 

 

 

     
     

BANGLADESH: 1.0%

      

GrameenPhone, Ltd.

      14,140,431        54,809,812  
     

 

 

 

Total Bangladesh

         54,809,812  
     

 

 

 

     
     

TOTAL COMMON EQUITIES

         5,044,384,888  
     

 

 

 

(Cost $3,902,190,690)

      

PREFERRED EQUITIES: 5.1%

      
     

SOUTH KOREA: 5.1%

      

LG Chem, Ltd., Pfd.

      488,391        167,085,940  

Samsung Electronics Co., Ltd., Pfd.

      1,671,655        108,270,117  
     

 

 

 

Total South Korea

         275,356,057  
     

 

 

 

     
     

TOTAL PREFERRED EQUITIES

            275,356,057  
     

 

 

 

(Cost $105,374,275)

      
 


 

1   MATTHEWS ASIA FUNDS

Matthews Asia Dividend Fund      March 31, 2021  
Schedule of Investmentsa (unaudited) (continued)   

 

PREFERRED EQUITIES (continued)

 

              Value 
     

TOTAL INVESTMENTS: 98.8%

           $5,319,740,945  

(Cost $4,007,564,965)

      

CASH AND OTHER ASSETS,

LESS LIABILITIES: 1.2%

         64,237,883  
     

 

 

 

NET ASSETS: 100.0%

         $5,383,978,828  
     

 

 

 

 

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, 2021, the aggregate value is $313,286,193, which is 5.82% 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

Non-income producing security.

 

†

Affiliated Issuer, as defined under the Investment Company Act of 1940 (ownership of 5% or more of the outstanding voting securities of this issuer)

 

ADR   American Depositary Receipt
JSC   Joint Stock Co.
Pfd.   Preferred
REIT   Real Estate Investment Trust

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).

 


 

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