Matthews Emerging Markets Equity Fund	September 30, 2023
Schedule of Investmentsa (unaudited)

COMMON EQUITIES: 92.5%

	Shares		Value
INDIA: 16.5%
HDFC Bank, Ltd. ADR		12,241		$722,341
ICICI Bank, Ltd. ADR		24,738		571,943
Infosys, Ltd. ADR		31,036		531,026
Restaurant Brands Asia, Ltd.b		234,016		350,878
Dabur India, Ltd.		52,917		350,628
UltraTech Cement, Ltd.		3,370		334,192
PI Industries, Ltd.		7,141		296,602
Indian Hotels Co., Ltd.		55,631		274,657
Kotak Mahindra Bank, Ltd.		10,942		228,031
Total India				3,660,298
CHINA/HONG KONG: 15.5%
Tencent Holdings, Ltd.		23,600		914,829
H World Group, Ltd. ADRb		11,131		438,895
AIA Group, Ltd.		52,400		423,767
Yum China Holdings, Inc.		6,972		388,480
JD.com, Inc. Class A		25,802		375,389
Midea Group Co., Ltd. A Shares		48,300		368,454
BYD Co., Ltd. A Shares		10,900		356,790
Innovent Biologics, Inc.b,c,d		36,000		174,862
Total China/Hong Kong				3,441,466
MEXICO: 9.5%
Prologis Property Mexico SA de CV REIT		221,898		763,321
GCC SAB de CV		40,600		381,900
Becle SAB de CV		140,100		333,619
Grupo Financiero Banorte SAB de CV Class O		39,400		330,325
Grupo Aeroportuario del Sureste SAB de CV ADR		1,214		298,292
Total Mexico				2,107,457
BRAZIL: 9.1%
Banco BTG Pactual SA		82,800		511,801
Vinci Partners Investments, Ltd. Class A		34,504		351,941
Hapvida Participacoes e Investimentos SAb,c,d		349,700		326,982
Vale SA ADR		22,702		304,207
Armac Locacao Logistica E Servicos SA		106,300		271,536
WEG SA		33,900		244,612
Total Brazil				2,011,079
VIETNAM: 6.5%
FPT Corp.		239,154		911,697
Military Commercial Joint Stock Bank		448,357		340,318
HDBank		254,006		180,728
Total Vietnam				1,432,743
TAIWAN: 6.2%
Taiwan Semiconductor Manufacturing Co., Ltd.		84,000		1,369,725
Total Taiwan				1,369,725
UNITED STATES: 4.9%
Globant SAb		2,243		443,777
Applied Materials, Inc.		3,028		419,227
Freeport-McMoRan, Inc.		5,987		223,255
Total United States				1,086,259
FRANCE: 3.8%
TotalEnergies SE ADR		8,788		577,899

	Shares		Value
LVMH Moet Hennessy Louis Vuitton SE		359	$	270,984
Total France				848,883
AUSTRALIA: 2.8%
Woodside Energy Group, Ltd.		26,836		623,966
Total Australia				623,966
PHILIPPINES: 2.7%
Ayala Corp.		28,770		316,661
Wilcon Depot, Inc.		738,500		287,171
Total Philippines				603,832
INDONESIA: 2.1%
PT Bank Rakyat Indonesia Persero Tbk		1,388,000		468,773
Total Indonesia				468,773
UNITED KINGDOM: 2.1%
Prudential PLC		43,074		463,017
Total United Kingdom				463,017
KAZAKHSTAN: 1.7%
Kaspi.KZ JSC GDRd		3,888		376,358
Total Kazakhstan				376,358
POLAND: 1.5%
Dino Polska SAb,c,d		4,088		331,306
Total Poland				331,306
SOUTH KOREA: 1.5%
LG Chem, Ltd.		873		319,637
Total South Korea				319,637
SWITZERLAND: 1.3%
Cie Financiere Richemont SA Class A		2,438		296,908
Total Switzerland				296,908
ZAMBIA: 1.3%
First Quantum Minerals, Ltd.		12,000		283,512
Total Zambia				283,512
SINGAPORE: 1.3%
CapitaLand Investment, Ltd.		120,700		272,728
CapitaLand Ascott Trust		7,080		4,963
Total Singapore				277,691
UNITED ARAB EMIRATES: 1.2%
Fertiglobe PLC		284,514		270,338
Total United Arab Emirates				270,338
THAILAND: 1.0%
Bangkok Dusit Medical Services Public Co., Ltd. F Shares		307,400		223,993
Total Thailand				223,993
RUSSIA: 0.0%
Sberbank of Russia PJSCe		128,308		1,315
LUKOIL PJSC ADRb,e		18,010		360

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

COMMON EQUITIES (continued)
	Shares		Value
TCS Group Holding PLC GDRb,d,e		3,865		$78
Total Russia				1,753
TOTAL COMMON EQUITIES				20,498,994
(Cost $23,066,778)
PREFERRED EQUITIES: 5.3%
SOUTH KOREA: 5.3%
Samsung Electronics Co., Ltd., Pfd.		29,397		1,184,301
Total South Korea				1,184,301
TOTAL PREFERRED EQUITIES				1,184,301
(Cost $1,842,519)
TOTAL INVESTMENTS: 97.8%				21,683,295
(Cost $24,909,297)
CASH AND OTHER ASSETS, LESS LIABILITIES: 2.2%				479,247
NET ASSETS: 100.0%				$22,162,542

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 $833,150, which is 3.76% 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 $1,753 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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