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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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