Sony Group Corp


Matthews Asia Growth Fund			March 31, 2023

Schedule of Investments^a (unaudited)

COMMON EQUITIES: 98.6%


	Shares		Value

CHINA/HONG KONG: 38.1%
Tencent Holdings, Ltd.		620,600		$30,328,302
Alibaba Group Holding, Ltd.^b		2,219,200		28,107,269
Shenzhen Inovance Technology Co., Ltd. A Shares		2,407,612		24,660,763
Innovent Biologics, Inc.^b,c,d		5,108,000		22,911,990
BeiGene, Ltd. ADR^b		100,422		21,643,954
H World Group, Ltd.^b		4,371,700		21,399,299
JD.com, Inc. A Shares		539,785		11,786,852
Wuxi Biologics Cayman, Inc.^b,c,d		1,901,000		11,713,889
Hangzhou Tigermed Consulting Co., Ltd. H Shares^c,d		1,074,200		10,120,801
Medlive Technology Co., Ltd.^c,d		6,873,500		9,495,077
Meituan B Shares^b,c,d		498,660		9,046,797
Silergy Corp.		512,000		8,128,813
PDD Holdings, Inc. ADR^b		86,997		6,603,072
BYD Co., Ltd. H Shares		215,000		6,324,473
JD Health International, Inc.^b,c,d		803,350		5,956,813
RemeGen Co., Ltd. H Shares^b,c,d		991,000		5,293,584
InnoCare Pharma, Ltd.^b,c,d		4,863,000		5,185,223


Total China/Hong Kong				238,706,971



JAPAN: 35.2%
Daiichi Sankyo Co., Ltd.		774,400		28,248,289
Sony Group Corp.		263,900		24,036,905
Keyence Corp.		42,800		20,976,655
Hitachi, Ltd.		369,300		20,296,983
Japan Elevator Service Holdings Co., Ltd.		1,194,100		19,489,574
Shin-Etsu Chemical Co., Ltd.		520,500		16,895,976
Sumitomo Mitsui Financial Group, Inc.		312,100		12,489,485
Kyoritsu Maintenance Co., Ltd.		307,500		12,434,607
SoftBank Group Corp.		239,600		9,419,519
SHIFT, Inc.^b		52,100		9,318,703
Unicharm Corp.		209,700		8,619,876
OBIC Business Consultants Co., Ltd.		182,000		6,894,805
Asahi Intecc Co., Ltd.		375,500		6,634,430
Amvis Holdings, Inc.		270,300		6,294,501
giftee, Inc.^b		349,100		6,125,936
Sega Sammy Holdings, Inc.		255,400		4,854,561
Sosei Group Corp.^b		260,500		4,467,643
Nintendo Co., Ltd.		81,000		3,146,170


Total Japan				220,644,618



INDIA: 10.1%
HDFC Bank, Ltd.		1,372,120		26,988,013
Bajaj Finance, Ltd.		169,997		11,664,290
Maruti Suzuki India, Ltd.		92,274		9,331,540
Reliance Industries, Ltd.		308,978		8,785,662
Dabur India, Ltd.		955,965		6,347,606


Total India				63,117,111



INDONESIA: 4.9%
PT Bank Rakyat Indonesia Persero Tbk		92,637,400		29,352,420


	Shares		Value

PT Mayora Indah Tbk		6,286,500		$1,121,045


Total Indonesia				30,473,465



AUSTRALIA: 4.3%
CSL, Ltd.		92,928		17,997,405
Woodside Energy Group, Ltd.		397,612		8,882,715


Total Australia				26,880,120



UNITED STATES: 3.0%
Legend Biotech Corp. ADR^b		394,126		19,004,756


Total United States				19,004,756



SINGAPORE: 1.7%
Sea, Ltd. ADR^b		120,393		10,420,014


Total Singapore				10,420,014



VIETNAM: 0.7%
Vietnam Dairy Products JSC		1,274,010		4,046,743


Total Vietnam				4,046,743



NEW ZEALAND: 0.6%
Xero, Ltd.^b		65,813		3,991,653


Total New Zealand				3,991,653



TOTAL INVESTMENTS: 98.6%				617,285,451
(Cost $612,903,244)

CASH AND OTHER ASSETS,
LESS LIABILITIES: 1.4%				8,880,597


NET ASSETS: 100.0%				$626,166,048

a	Certain securities were fair valued under the valuation policies approved by the Board of Trustees.

b	Non-income producing security.

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, 2023, the aggregate value is $79,724,174, which is 12.73% 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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