Matthews Asia Growth Fund

Portfolio Holdings: 12/31/2018

Security Country Sector Shares Value
PT Bank Rakyat Indonesia Persero Indonesia Financials 155,115,800 39,517,049
Shenzhou International Group Holdings, Ltd. China/Hong Kong Consumer Discretionary 3,155,000 35,859,266
HDFC Bank, Ltd. India Financials 1,148,086 34,924,601
CSL, Ltd. Australia Health Care 240,892 31,464,787
Terumo Corp. Japan Health Care 496,600 28,010,785
Wuxi Biologics Cayman, Inc. China/Hong Kong Health Care 4,160,500 26,579,625
Square Pharmaceuticals, Ltd. Bangladesh Health Care 8,767,712 26,532,487
PT Astra International Indonesia Consumer Discretionary 44,275,300 25,364,956
Nidec Corp. Japan Industrials 218,500 24,722,613
Baozun, Inc. ADR China/Hong Kong Consumer Discretionary 818,500 23,908,385
BeiGene, Ltd. ADR China/Hong Kong Health Care 169,500 23,774,070
Pigeon Corp. Japan Consumer Staples 544,900 23,241,455
Sony Corp. Japan Consumer Discretionary 479,700 23,126,154
Keyence Corp. Japan Information Technology 43,800 22,138,529
Sampath Bank PLC Sri Lanka Financials 16,126,387 20,720,071
SoftBank Group Corp. Japan Communication Services 306,900 20,101,703
Jiangsu Hengrui Medicine Co., Ltd. A Shares China/Hong Kong Health Care 2,603,187 20,064,451
M3, Inc. Japan Health Care 1,488,500 20,051,922
Huazhu Group, Ltd. ADR China/Hong Kong Consumer Discretionary 686,700 19,660,221
ORIX Corp. Japan Financials 1,329,200 19,422,169
Seria Co., Ltd. Japan Consumer Discretionary 550,900 18,734,876
Alibaba Group Holding, Ltd. ADR China/Hong Kong Consumer Discretionary 127,200 17,435,304
Nitori Holdings Co., Ltd. Japan Consumer Discretionary 133,400 16,707,059
PeptiDream, Inc. Japan Health Care 411,000 16,226,444
Vietnam Dairy Products JSC Vietnam Consumer Staples 3,116,592 16,165,247
PT Ace Hardware Indonesia Indonesia Consumer Discretionary 154,466,000 16,023,588
Eisai Co., Ltd. Japan Health Care 202,900 15,708,484
Yunnan Baiyao Group Co., Ltd. A Shares China/Hong Kong Health Care 1,424,788 15,354,220
TechnoPro Holdings, Inc. Japan Industrials 359,200 14,756,724
PT Indofood CBP Sukses Makmur Indonesia Consumer Staples 18,774,200 13,660,299
BRAC Bank, Ltd. Bangladesh Financials 15,589,353 13,508,295
ZOZO, Inc. Japan Consumer Discretionary 690,500 12,650,697
Ariake Japan Co., Ltd. Japan Consumer Staples 194,800 12,636,860
Sysmex Corp. Japan Health Care 264,100 12,542,400
Oil Search, Ltd. Australia Energy 2,481,915 12,501,424
Major Cineplex Group Public Co., Ltd. Thailand Communication Services 18,967,100 12,087,487
ITC, Ltd. India Consumer Staples 2,925,894 11,797,413
Autohome, Inc. ADR China/Hong Kong Communication Services 145,500 11,382,465
Jollibee Foods Corp. Philippines Consumer Discretionary 2,007,890 11,141,806
St. Shine Optical Co., Ltd. Taiwan Health Care 630,000 11,132,450
FANUC Corp. Japan Industrials 63,400 9,621,565
Shanghai Haohai Biological Technology Co., Ltd. H Shares China/Hong Kong Health Care 1,873,800 9,319,778
Nitto Denko Corp. Japan Materials 184,700 9,263,523
Mercari, Inc. Japan Consumer Discretionary 531,300 8,869,450
PT Mayora Indah Indonesia Consumer Staples 47,580,700 8,673,764
Genscript Biotech Corp. China/Hong Kong Health Care 6,426,000 8,601,879
Yunnan Hongxiang Yixintang Pharmaceutical Co., Ltd. A Shares China/Hong Kong Consumer Staples 3,201,296 8,292,562
Baidu, Inc. ADR China/Hong Kong Communication Services 51,600 8,183,760
Lanka Orix Leasing Co. PLC Sri Lanka Financials 12,121,473 5,958,012
HEALIOS KK Japan Health Care 380,100 5,816,469
Tongda Group Holdings, Ltd. China/Hong Kong Information Technology 54,370,000 5,395,236
Emperador, Inc. Philippines Consumer Staples 37,942,500 5,130,193
Sosei Group Corp. Japan Health Care 682,400 4,941,627
PC Jeweller, Ltd. India Consumer Discretionary 3,698,554 4,555,109
CYBERDYNE, Inc. Japan Health Care 768,500 3,368,720
Net Cash n.a. 33,003,069


The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or a recommendation to buy or sell securities or other investments.

Portfolio holdings are subject to change without notice and may not represent current or future portfolio composition.

Unlike the Fund’s regulatory filings, the portfolio data and its presentation in this document are not required to conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC) presentation requirements. Therefore, it differs from that in the complete statement of investments in the annual and semiannual report to shareholders filed with the SEC on Form N-CSR, and the complete statement of investments provided in the first and third quarter SEC Form N-Q filings for each fiscal year.

You should carefully consider the investment objectives, risks, charges and expenses of the Matthews Asia Funds before making an investment decision. A prospectus with this and other information about the Funds may be obtained by visiting matthewsasia.com. Please read the prospectus carefully before investing as it explains the risks associated with investing in international and emerging markets. 

Matthews Asia Funds are distributed in the United States by Foreside Funds Distributors LLC
Matthews Asia Funds are distributed in Latin America by HMC Partners