NPORT-EX 2 MIMA910MI9.30.23.htm HTML
Matthews Emerging Markets Small Companies Fund      September 30, 2023  
Schedule of Investmentsa (unaudited)   

COMMON EQUITIES: 95.9%

      Shares      Value  

CHINA/HONG KONG: 28.9%

 

Legend Biotech Corp. ADRb

      393,279        $26,416,550  

Full Truck Alliance Co., Ltd. ADRb

      3,186,912        22,435,861  

Airtac International Group

      497,431        15,113,277  

Zhihu, Inc. ADRb

      11,017,398        11,458,094  

Silergy Corp.

      1,061,000        10,057,044  

Medlive Technology Co., Ltd.c,d

      9,699,500        9,751,771  

Tongcheng Travel Holdings, Ltd.b,d

      4,216,000        9,221,602  

Flat Glass Group Co., Ltd. H Shares

      3,642,000        8,147,933  

Xtep International Holdings, Ltd.

      7,075,500        6,517,017  

SITC International Holdings Co., Ltd.

      3,232,000        5,422,677  

Peijia Medical, Ltd.b,c,d

      6,090,000        5,417,067  

Ginlong Technologies Co., Ltd. A Shares

      501,306        5,403,148  

Beijing Capital International Airport Co., Ltd. H Sharesb

      9,650,000        4,462,833  

Hainan Meilan International Airport Co., Ltd. H Sharesb

      4,416,000        4,041,722  

Innovent Biologics, Inc.b,c,d

      770,500        3,742,538  

AK Medical Holdings, Ltd.c,d

      4,246,000        3,570,926  

Morimatsu International Holdings Co., Ltd.b,d

      4,498,000        3,271,792  

Hongfa Technology Co., Ltd. A Shares

      691,200        3,188,464  

OPT Machine Vision Tech Co., Ltd. A Shares

      196,467        3,061,133  

Zhejiang HangKe Technology, Inc. Co. A Shares

      744,920        2,684,343  

Centre Testing International Group Co., Ltd. A Shares

      865,974        2,220,858  

Ginlong Technologies Co., Ltd. A Shares

      163,310        1,761,831  

Centre Testing International Group Co., Ltd. A Shares

      585,338        1,499,737  

CIFI Ever Sunshine Services Group, Ltd.d

      8,858,000        1,326,970  

Total China/Hong Kong

 

      170,195,188  
     
 

INDIA: 22.9%

 

Bandhan Bank, Ltd.c,d

      12,303,586        37,159,408  

Shriram Finance, Ltd.

      1,552,499        35,827,483  

Finolex Cables, Ltd.

      1,078,159        14,521,824  

Phoenix Mills, Ltd.

      652,201        14,249,796  

Barbeque Nation Hospitality, Ltd.b

      751,179        6,694,245  

Radico Khaitan, Ltd.

      433,480        6,271,787  

UNO Minda, Ltd.

      792,352        5,708,455  

Hindware Home Innovation, Ltd.

      728,123        4,820,585  

Rainbow Children’s Medicare, Ltd.

      339,905        4,202,751  

HEG, Ltd.

      177,008        3,664,466  

Marico, Ltd.

      246,585        1,664,739  

Cartrade Tech, Ltd.b

      26,646        176,071  

Total India

 

      134,961,610  
     
 

TAIWAN: 10.1%

 

M31 Technology Corp.

      447,702        11,149,137  

Elite Material Co., Ltd.

      731,000        9,721,778  

Andes Technology Corp.

      683,000        8,398,009  

Yageo Corp.

      424,124        6,906,357  

Poya International Co., Ltd.

      452,506        6,760,618  

Wiwynn Corp.

      126,000        5,875,461  

ASPEED Technology, Inc.

      60,000        5,168,546  

Formosa Sumco Technology Corp.

      731,000        3,254,800  

AP Memory Technology Corp.

      188,000        2,238,175  

Total Taiwan

 

      59,472,881  
     
      Shares      Value  
 

BRAZIL: 7.5%

 

YDUQS Participacoes SA

      4,721,400      $ 18,663,739  

Vamos Locacao de Caminhoes Maquinas e Equipamentos SA

      7,756,900        15,046,061  

Vivara Participacoes SA

      1,061,700        5,673,327  

Grupo SBF SA

      3,709,900        5,033,575  

Total Brazil

 

      44,416,702  
     
 

SOUTH KOREA: 6.6%

 

Hugel, Inc.b

      208,295        19,244,953  

Eugene Technology Co., Ltd.

      328,680        9,358,341  

Ecopro BM Co., Ltd.

      30,151        5,632,301  

Solus Advanced Materials Co., Ltd.

      216,643        4,676,104  

Total South Korea

 

      38,911,699  
     
 

VIETNAM: 5.0%

 

Military Commercial Joint Stock Bank

      12,309,280        9,343,168  

Mobile World Investment Corp.

      4,206,714        9,083,252  

FPT Corp.

      1,979,423        7,545,905  

Nam Long Investment Corp.

      2,386,132        3,421,363  

Total Vietnam

 

      29,393,688  
     
 

CHILE: 3.8%

 

Parque Arauco SA

      7,244,351        10,415,920  

Lundin Mining Corp.

      663,000        4,944,738  

Aguas Andinas SA Class A

      12,721,367        3,836,130  

Banco de Credito e Inversiones SA

      114,681        2,936,680  

Total Chile

 

      22,133,468  
     
 

PHILIPPINES: 2.5%

 

GT Capital Holdings, Inc.

      788,780        7,933,960  

Cebu Air, Inc.b

      11,291,900        6,785,997  

Total Philippines

 

      14,719,957  
     
 

SAUDI ARABIA: 2.3%

 

Saudi Tadawul Group Holding Co.

      259,327        13,355,991  

Total Saudi Arabia

 

      13,355,991  
     
 

INDONESIA: 1.8%

 

PT Mitra Adiperkasa Tbk

      47,495,800        5,593,165  

PT Summarecon Agung Tbk

      131,513,116        4,886,581  

Total Indonesia

 

      10,479,746  
     
 

POLAND: 1.3%

 

InPost SAb

      647,686        7,508,300  

Total Poland

 

      7,508,300  
     
 

THAILAND: 1.0%

 

Siam Wellness Group Public Co., Ltd. F Sharesb

      17,244,600        6,078,181  

Total Thailand

 

      6,078,181  
     
 

TURKEY: 0.7%

 

Ford Otomotiv Sanayi AS

      142,109        4,356,867  

Total Turkey

 

      4,356,867  
     
 

 

 

matthewsasia.com  |  800.789.ASIA   1

Matthews Emerging Markets Small Companies Fund      September 30, 2023  
Schedule of Investmentsa (unaudited) (continued)   

 

COMMON EQUITIES (continued)

 

   
      Shares      Value  

UNITED ARAB EMIRATES: 0.6%

 

Network International Holdings PLCb,c,d

      770,137        $3,666,492  

Total United Arab Emirates

 

      3,666,492  
     
   

BANGLADESH: 0.5%

 

   

BRAC Bank, Ltd.

      9,498,906        2,800,131  

Total Bangladesh

 

      2,800,131  
     
 

MEXICO: 0.4%

 

Banco del Bajio SAc,d

      796,800        2,505,959  

Total Mexico

 

      2,505,959  
     
 

RUSSIA: 0.0%

 

Moscow Exchange MICEX-RTS PJSCe

      2,101,250        21,540  

TCS Group Holding PLC GDRb,d,e

      62,962        1,259  

HeadHunter Group PLC ADRb,e

      15,800        316  

Total Russia

 

      23,115  
     
   

TOTAL COMMON EQUITIES

 

      564,979,975  

(Cost $545,830,305)

      

PREFERRED EQUITIES: 1.6%

      
     

BRAZIL: 1.6%

      

Banco Pan SA, Pfd.

      5,972,500        9,600,581  

Total Brazil

 

      9,600,581  
     
     

TOTAL PREFERRED EQUITIES

         9,600,581  

(Cost $9,168,254)

      
     

RIGHTS: 0.0%

      
     

CHILE: 0.0%

      

Banco de Credito e Inversiones SA, Rights, Expires 10/17/23b

      16,892        14,133  

Total Chile

 

      14,133  
     
   

TOTAL RIGHTS

 

      14,133  

(Cost $0)

      
     
     

TOTAL INVESTMENTS: 97.5%

         574,594,689  

(Cost $554,998,559)

      

CASH AND OTHER ASSETS,

      

LESS LIABILITIES: 2.5%

         14,653,101  

NET ASSETS: 100.0%

         $589,247,790  
           
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 September 30, 2023, the aggregate value is $65,814,161, which is 11.17% 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 $23,115 and 0.00% of net assets.

 

ADR

American Depositary Receipt

 

GDR

Global Depositary Receipt

 

Pfd.

Preferred

 

PJSC

Public 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).

 

 

 

2   MATTHEWS ASIA FUNDS