Matthews Asian Growth and Income Fund March 31, 2024
Schedule of Investmentsa (unaudited)
COMMON EQUITIES: 88.6%  
  Shares Value 
China/Hong Kong: 35.1%
Tencent Holdings, Ltd.  402,500 $15,677,353
AIA Group, Ltd.  1,818,000 12,228,911
HKT Trust & HKT, Ltd.  5,713,000 6,665,861
Midea Group Co., Ltd. A Shares  727,730 6,474,568
Inner Mongolia Yili Industrial Group Co., Ltd. A Shares  1,668,275 6,392,639
Wuliangye Yibin Co., Ltd. A Shares  291,274 6,147,135
NARI Technology Co., Ltd. A Shares  1,772,690 5,889,035
Jiangsu Expressway Co., Ltd. H Shares  5,616,000 5,748,419
ENN Natural Gas Co., Ltd. A Shares  2,029,777 5,356,790
BOC Hong Kong Holdings, Ltd.  1,985,500 5,323,700
Yum China Holdings, Inc.  131,481 5,231,629
JD.com, Inc. Class A  376,352 5,162,377
NetEase, Inc. ADR  49,860 5,159,014
Link REIT  1,112,540 4,791,056
Techtronic Industries Co., Ltd.  257,500 3,498,875
Zhongsheng Group Holdings, Ltd.  1,841,000 3,197,763
Qingdao Haier Biomedical Co., Ltd. A Shares  746,692 2,911,444
Guangdong Investment, Ltd.  3,202,000 1,371,704
Total China/Hong Kong   107,228,273
India: 13.8%
HDFC Bank, Ltd.  722,477 12,598,281
Tata Consultancy Services, Ltd.  175,222 8,177,953
Computer Age Management Services, Ltd.  173,357 6,083,607
Embassy Office Parks REIT  1,368,465 6,064,546
Hindustan Unilever, Ltd.  171,177 4,657,435
Crompton Greaves Consumer Electricals, Ltd.  1,441,034 4,635,923
Total India   42,217,745
Taiwan: 13.8%
Taiwan Semiconductor Manufacturing Co., Ltd.  1,221,187 29,255,017
Advantech Co., Ltd.  540,078 6,871,047
Chailease Holding Co., Ltd.  1,087,703 5,828,418
Total Taiwan   41,954,482
South Korea: 9.6%
Samsung Electronics Co., Ltd.  185,632 11,156,022
Macquarie Korea Infrastructure Fund  806,802 7,681,313
LEENO Industrial, Inc.  27,461 5,273,357
SK Telecom Co., Ltd.  129,700 5,135,520
Total South Korea   29,246,212
Singapore: 5.8%
Singapore Technologies Engineering, Ltd.  2,229,425 6,637,661
United Overseas Bank, Ltd.  263,800 5,735,022
CapitaLand Ascendas REIT  2,616,884 5,367,956
Total Singapore   17,740,639
France: 3.2%
Pernod Ricard SA  31,736 5,137,556
LVMH Moet Hennessy Louis Vuitton SE  5,186 4,666,346
Total France   9,803,902
   
  Shares Value 
Philippines: 2.3%
Bank of the Philippine Islands  3,297,776 $6,928,175
Total Philippines   6,928,175
Indonesia: 2.1%
PT Bank Rakyat Indonesia Persero Tbk  16,532,172 6,321,489
Total Indonesia   6,321,489
United States: 1.6%
Broadcom, Inc.  3,690 4,890,763
Total United States   4,890,763
Thailand: 1.3%
Digital Telecommunications Infrastructure Fund F Shares  19,166,000 3,965,832
Total Thailand   3,965,832
TOTAL COMMON EQUITIES 270,297,512
(Cost $275,130,925)    
    
CONVERTIBLE CORPORATE BONDS: 9.7%  
  Face Amount* Value
China/Hong Kong: 3.7%
Pharmaron Beijing Co., Ltd., Cnv.
0.000%, 06/18/26b  6,500,000 6,370,000
ZTO Express Cayman, Inc., Cnv.
1.500%, 09/01/27  5,194,000 5,025,195
Total China/Hong Kong   11,395,195
Taiwan: 2.1%
Bizlink Holding, Inc., Cnv.
0.000%, 01/12/27b  4,200,000 4,167,591
Bizlink Holding, Inc., Cnv.
0.000%, 01/30/28b  2,000,000 2,095,364
Total Taiwan   6,262,955
Singapore: 2.0%
Straits Trading Co., Ltd., Cnv.
3.250%, 02/13/28b SGD 9,000,000 6,205,517
Total Singapore   6,205,517
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Matthews Asian Growth and Income Fund March 31, 2024
Schedule of Investmentsa (unaudited) (continued)
CONVERTIBLE CORPORATE BONDS (continued)  
  Face Amount* Value
New Zealand: 1.9%
Xero Investments, Ltd., Cnv.
0.000%, 12/02/25b  6,184,000 $5,842,642
Total New Zealand   5,842,642
TOTAL CONVERTIBLE CORPORATE BONDS 29,706,309
(Cost $29,657,506)    
Total Investments: 98.3%   300,003,821
(Cost $304,788,431)    
CASH AND OTHER ASSETS,
LESS LIABILITIES: 1.7% 		  5,150,625
Net Assets: 100.0%   $305,154,446
    
a Certain securities were fair valued under the valuation policies approved by the Board of Trustees.
b The securities may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.
* All Values in USD unless otherwise specified.
   
ADR American Depositary Receipt
Cnv. Convertible
REIT Real Estate Investment Trust
SGD Singapore Dollar
USD U.S. Dollar
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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