Matthews Emerging Markets Equity Fund	March 31, 2023
Schedule of Investmentsa (unaudited)
COMMON EQUITIES: 92.4%

	Shares		Value
CHINA/HONG KONG: 20.8%
Tencent Holdings, Ltd.		25,600		$1,251,055
AIA Group, Ltd.		60,200		631,339
H World Group, Ltd. ADRb		9,376		459,236
Yum China Holdings, Inc.		7,054		447,153
Hong Kong Exchanges & Clearing, Ltd.		7,800		345,733
Midea Group Co., Ltd. A Shares		43,500		340,377
JD.com, Inc. A Shares		15,452		337,413
NARI Technology Co., Ltd. A Shares		78,720		310,318
Alibaba Group Holding, Ltd. ADRb		2,927		299,081
CSPC Pharmaceutical Group, Ltd.		214,000		209,788
Innovent Biologics, Inc.b,c,d		36,000		161,478
Meituan B Sharesb,c,d		3,760		68,215
Total China/Hong Kong				4,861,186
INDIA: 14.1%
HDFC Bank, Ltd. ADR		11,523		768,238
ICICI Bank, Ltd. ADR		27,919		602,492
Infosys, Ltd. ADR		31,436		548,244
Kotak Mahindra Bank, Ltd.		16,962		358,523
Dabur India, Ltd.		48,390		321,310
PI Industries, Ltd.		7,033		259,878
Restaurant Brands Asia, Ltd.b		234,016		257,319
UltraTech Cement, Ltd.		1,918		178,228
Total India				3,294,232
MEXICO: 10.2%
Prologis Property Mexico SA de CV REIT		221,898		802,995
Grupo Financiero Banorte SAB de CV Class O		52,700		444,236
Grupo Aeroportuario del Sureste SAB de CV ADR		1,417		434,268
Becle SAB de CV		140,100		362,690
GCC SAB de CV		42,900		340,081
Total Mexico				2,384,270
BRAZIL: 7.1%
Banco BTG Pactual SA		91,300		353,963
Vale SA ADR		20,357		321,234
Vinci Partners Investments, Ltd. Class A		38,174		310,355
WEG SA		27,800		222,413
Hypera SA		25,900		192,649
Hapvida Participacoes e Investimentos SAb,c,d		250,900		129,696
Armac Locacao Logistica E Servicos SA		56,400		128,079
Total Brazil				1,658,389
TAIWAN: 6.4%
Taiwan Semiconductor Manufacturing Co., Ltd.		86,000		1,507,118
Total Taiwan				1,507,118
VIETNAM: 6.2%
FPT Corp.		286,917		968,857
Military Commercial Joint Stock Bankb		389,876		304,973
HDBankb		220,875		182,015
Total Vietnam				1,455,845
UNITED STATES: 5.2%
Applied Materials, Inc.		3,133		384,826
Globant SAb		2,195		360,002
Excelerate Energy, Inc. Class A		12,274		271,746

	Shares		Value
Freeport-McMoRan, Inc.		5,104		$208,805
Total United States				1,225,379
FRANCE: 2.7%
LVMH Moet Hennessy Louis Vuitton SE		359		329,529
TotalEnergies SE ADR		4,977		293,892
Total France				623,421
UNITED KINGDOM: 2.6%
Prudential PLC		45,393		621,505
Total United Kingdom				621,505
AUSTRALIA: 2.6%
Woodside Energy Group, Ltd.		26,836		599,521
Total Australia				599,521
PHILIPPINES: 2.5%
Wilcon Depot, Inc.		620,500		342,878
Ayala Corp.		21,090		253,439
Total Philippines				596,317
SINGAPORE: 2.3%
Capitaland Investment, Ltd.		120,700		334,884
TDCX, Inc. ADRb		22,043		196,183
Total Singapore				531,067
INDONESIA: 1.9%
PT Bank Rakyat Indonesia Persero Tbk		1,415,200		448,410
Total Indonesia				448,410
SOUTH KOREA: 1.8%
LG Chem, Ltd.		754		414,092
Total South Korea				414,092
POLAND: 1.6%
Dino Polska SAb,c,d		4,079		370,497
Total Poland				370,497
ZAMBIA: 1.2%
First Quantum Minerals, Ltd.		12,700		291,964
Total Zambia				291,964
KAZAKHSTAN: 1.2%
Kaspi.KZ JSC GDRd		3,586		270,743
Total Kazakhstan				270,743
UNITED ARAB EMIRATES: 1.1%
Fertiglobe PLC		238,484		259,985
Total United Arab Emirates				259,985
THAILAND: 0.9%
Bangkok Dusit Medical Services Public Co., Ltd. F Shares		251,100		216,771
Total Thailand				216,771
RUSSIA: 0.0%
Sberbank of Russia PJSCb,e		128,308		1,653

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Matthews Emerging Markets Equity Fund	March 31, 2023
Schedule of Investmentsa (unaudited) (continued)

COMMON EQUITIES (continued)

	Shares		Value
LUKOIL PJSC ADRb,e		18,010		$360
TCS Group Holding PLC GDRb,d,e		3,865		77
Total Russia				2,090
TOTAL COMMON EQUITIES				21,632,802
(Cost $23,709,809)
PREFERRED EQUITIES: 5.3%
SOUTH KOREA: 5.3%
Samsung Electronics Co., Ltd., Pfd.		29,823		1,241,072
Total South Korea				1,241,072
TOTAL PREFERRED EQUITIES				1,241,072
(Cost $1,875,478)
TOTAL INVESTMENTS: 97.7%				22,873,874
(Cost $25,585,287)
CASH AND OTHER ASSETS, LESS LIABILITIES: 2.3%				536,223
NET ASSETS: 100.0%				$23,410,097

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, 2023, the aggregate value is $729,886, which is 3.12% 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.

e Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. The aggregate value of Level 3 security is $2,090 and 0.01% of net assets.

ADR American Depositary Receipt

GDR Global Depositary Receipt

JSC Joint Stock Co.

Pfd. Preferred

PJSC Public Joint Stock Co.

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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