| Matthews Asia Growth Fund | March 31, 2022 |
Schedule of Investmentsa (unaudited)
COMMON EQUITIES: 97.1%
| Shares | Value | |||||||
| JAPAN: 32.0% |
||||||||
| Sony Group Corp. |
527,700 | $54,287,515 | ||||||
| Toyota Motor Corp. |
2,674,900 | 48,249,858 | ||||||
| Tokyo Electron, Ltd. |
80,400 | 41,290,318 | ||||||
| GMO Payment Gateway, Inc. |
335,800 | 34,210,016 | ||||||
| Daiichi Sankyo Co., Ltd. |
1,302,500 | 28,442,690 | ||||||
| Keyence Corp. |
55,500 | 25,735,495 | ||||||
| CyberAgent, Inc. |
2,001,900 | 24,772,725 | ||||||
| Shin-Etsu Chemical Co., Ltd. |
133,300 | 20,252,714 | ||||||
| Terumo Corp. |
643,600 | 19,474,381 | ||||||
| OBIC Business Consultants Co., Ltd. |
518,100 | 18,006,315 | ||||||
| Shimano, Inc. |
72,800 | 16,671,809 | ||||||
| Appier Group, Inc.b |
1,805,100 | 14,875,176 | ||||||
| SoftBank Group Corp. |
276,300 | 12,353,277 | ||||||
| HEALIOS KKb |
1,243,200 | 11,722,513 | ||||||
| Japan Elevator Service Holdings Co., Ltd. |
805,200 | 10,423,285 | ||||||
| Sansan, Inc.b |
665,700 | 7,468,112 | ||||||
| Total Japan |
388,236,199 | |||||||
| CHINA/HONG KONG: 27.8% |
||||||||
| Shenzhen Inovance Technology Co., Ltd. A Shares |
4,225,612 | 37,658,357 | ||||||
| Silergy Corp. |
304,000 | 35,644,247 | ||||||
| XPeng, Inc. A Sharesb |
2,390,250 | 32,896,488 | ||||||
| BeiGene, Ltd. ADRb |
162,500 | 30,647,500 | ||||||
| InnoCare Pharma, Ltd.b,c,d |
13,446,000 | 20,732,121 | ||||||
| WuXi AppTec Co., Ltd. A Sharesb |
1,134,036 | 19,882,974 | ||||||
| Shenzhou International Group Holdings, Ltd. |
1,490,400 | 19,676,292 | ||||||
| Innovent Biologics, Inc.b,c,d |
5,835,500 | 19,637,238 | ||||||
| Alibaba Group Holding, Ltd.b |
1,399,700 | 19,101,304 | ||||||
| Hangzhou Tigermed Consulting Co., Ltd. H Sharesc,d |
1,572,100 | 18,960,386 | ||||||
| Tencent Holdings, Ltd. |
380,300 | 17,529,679 | ||||||
| Bilibili, Inc. Class Zb |
632,900 | 16,111,092 | ||||||
| Burning Rock Biotech, Ltd. ADRb |
1,395,348 | 12,962,783 | ||||||
| RemeGen Co., Ltd. H Sharesb,c,d |
1,990,000 | 11,628,821 | ||||||
| Medlive Technology Co., Ltd.b,c,d |
6,873,500 | 6,860,174 | ||||||
| JD Health International, Inc.b,c,d |
1,093,400 | 6,546,843 | ||||||
| Jacobio Pharmaceuticals Group Co., Ltd.b,c,d |
3,939,900 | 3,946,244 | ||||||
| Zhaoke Ophthalmology, Ltd.b,c,d |
5,683,633 | 2,527,053 | ||||||
| Kindstar Globalgene Technology, Inc.b,c,d |
7,212,500 | 2,424,395 | ||||||
| Adagene, Inc. ADRb |
628,917 | 2,245,234 | ||||||
| JD.com, Inc. A Sharesb |
13,985 | 397,382 | ||||||
| Total China/Hong Kong |
338,016,607 | |||||||
| INDIA: 19.3% |
||||||||
| HDFC Bank, Ltd. |
2,900,477 | 55,862,685 | ||||||
| Reliance Industries, Ltd. |
1,222,419 | 42,280,510 | ||||||
| Bajaj Finance, Ltd. |
437,755 | 41,572,848 | ||||||
| Dabur India, Ltd. |
5,462,846 | 38,523,884 | ||||||
| FSN E-Commerce Ventures, Ltd.b |
1,058,179 | 23,401,308 | ||||||
| Avenue Supermarts, Ltd.b,c,d |
257,482 | 13,540,745 | ||||||
| Crompton Greaves Consumer Electricals, Ltd. |
2,366,142 | 11,638,086 | ||||||
| Dr. Lal PathLabs, Ltd.c,d |
225,297 | 7,715,664 | ||||||
| Total India |
234,535,730 | |||||||
| Shares | Value | |||||||
| AUSTRALIA: 4.6% |
||||||||
| CSL, Ltd. |
278,623 | $55,625,000 | ||||||
| Total Australia |
55,625,000 | |||||||
| INDONESIA: 4.2% |
||||||||
| PT Bank Rakyat Indonesia Persero |
145,246,700 | 46,912,467 | ||||||
| PT Mayora Indah |
28,901,100 | 3,541,580 | ||||||
| Total Indonesia |
50,454,047 | |||||||
| UNITED STATES: 3.5% |
||||||||
| Atlassian Corp. PLC Class Ab |
75,000 | 22,037,250 | ||||||
| Legend Biotech Corp. ADRb |
373,038 | 13,556,201 | ||||||
| Schrodinger, Inc.b |
203,700 | 6,950,244 | ||||||
| Total United States |
42,543,695 | |||||||
| TAIWAN: 2.6% |
||||||||
| Taiwan Semiconductor Manufacturing Co., Ltd. ADR |
302,400 | 31,528,224 | ||||||
| Total Taiwan |
31,528,224 | |||||||
| NEW ZEALAND: 1.1% |
||||||||
| Xero, Ltd.b |
184,469 | 13,980,477 | ||||||
| Total New Zealand |
13,980,477 | |||||||
| VIETNAM: 1.1% |
||||||||
| Vietnam Dairy Products JSC |
3,739,910 | 13,226,629 | ||||||
| Total Vietnam |
13,226,629 | |||||||
| SINGAPORE: 0.9% |
||||||||
| Sea, Ltd. ADRb |
93,800 | 11,236,302 | ||||||
| Total Singapore |
11,236,302 | |||||||
| TOTAL INVESTMENTS: 97.1% |
1,179,382,910 | |||||||
| (Cost $1,202,694,432) |
||||||||
| CASH AND OTHER ASSETS, LESS LIABILITIES: 2.9% |
35,409,094 | |||||||
| NET ASSETS: 100.0% |
$1,214,792,004 | |||||||
| a | Certain securities were fair valued under the valuation policies approved by the Board of Trustees. | |
| b | Non-income producing security. | |
| c | 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, 2022, the aggregate value is $114,519,684, which is 9.43% of net assets. | |
| 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 | |
| JSC | Joint Stock Co. | |
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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