Matthews Pacific Tiger Fund

Portfolio Holdings: 12/31/2018

Security Country Sector Shares Value
Tencent Holdings, Ltd. China/Hong Kong Communication Services 7,067,800 283,279,903
Ping An Insurance Group Co. of China, Ltd. H Shares China/Hong Kong Financials 31,734,000 279,957,851
Kotak Mahindra Bank, Ltd. India Financials 13,788,122 248,036,437
China Resources Land, Ltd. China/Hong Kong Real Estate 59,880,000 230,338,765
Central Pattana Public Co., Ltd. Thailand Real Estate 97,969,000 226,637,855
Inner Mongolia Yili Industrial Group Co., Ltd. A Shares China/Hong Kong Consumer Staples 67,762,443 226,319,742
DB Insurance Co., Ltd. South Korea Financials 3,570,463 224,865,684
China Resources Beer Holdings Co., Ltd. China/Hong Kong Consumer Staples 64,029,775 223,860,007
Sinopharm Group Co., Ltd. H Shares China/Hong Kong Health Care 52,157,600 219,596,798
NAVER Corp. South Korea Communication Services 1,968,424 215,731,217
AIA Group, Ltd. China/Hong Kong Financials 25,040,800 208,009,271
Dairy Farm International Holdings, Ltd. China/Hong Kong Consumer Staples 22,254,946 201,723,504
Tata Power Co., Ltd. India Utilities 180,316,487 198,263,749
DKSH Holding AG Switzerland Industrials 2,861,150 197,817,440
HDFC Bank, Ltd. India Financials 6,223,409 189,315,153
Public Bank BHD Malaysia Financials 31,488,394 188,513,216
PT Bank Central Asia Indonesia Financials 100,580,000 181,893,835
President Chain Store Corp. Taiwan Consumer Staples 17,811,608 180,556,481
Vietnam Dairy Products JSC Vietnam Consumer Staples 34,361,440 178,227,105
Housing Development Finance Corp., Ltd. India Financials 6,154,197 173,390,135
China Mobile, Ltd. ADR China/Hong Kong Communication Services 3,479,226 167,002,848
Samsung Electronics Co., Ltd. South Korea Information Technology 4,755,250 165,538,423
ITC, Ltd. India Consumer Staples 39,202,500 158,067,279
Hong Kong Exchanges & Clearing, Ltd. China/Hong Kong Financials 5,403,000 156,192,968
PT Telekomunikasi Indonesia Persero Indonesia Communication Services 589,405,600 154,090,349
Alibaba Group Holding, Ltd. ADR China/Hong Kong Consumer Discretionary 1,088,500 149,200,695
GAIL India, Ltd. India Utilities 28,645,237 147,804,063
Cheil Worldwide, Inc. South Korea Communication Services 7,315,882 147,448,645
Delta Electronics, Inc. Taiwan Information Technology 33,921,182 143,646,821
Sun Pharmaceutical Industries, Ltd. India Health Care 22,768,349 140,304,996
Cognizant Technology Solutions Corp. Class A United States Information Technology 2,186,600 138,805,368
Container Corp. of India, Ltd. India Industrials 13,679,990 134,704,815
PT Indofood CBP Sukses Makmur Indonesia Consumer Staples 181,522,600 132,077,690
Dabur India, Ltd. India Consumer Staples 21,117,482 130,211,202
Titan Co., Ltd. India Consumer Discretionary 9,765,327 130,186,573
Yum China Holdings, Inc. China/Hong Kong Consumer Discretionary 3,721,510 124,782,230
SM Prime Holdings, Inc. Philippines Real Estate 164,670,771 111,989,057
Fuyao Glass Industry Group Co., Ltd. H Shares China/Hong Kong Consumer Discretionary 34,726,400 111,182,580
Kasikornbank Public Co., Ltd. Thailand Financials 18,431,800 105,563,409
The Siam Cement Public Co., Ltd. Thailand Materials 7,522,950 101,466,272
Baidu, Inc. ADR China/Hong Kong Communication Services 632,185 100,264,541
Guotai Junan Securities Co., Ltd. H Shares China/Hong Kong Financials 43,100,000 86,942,148
Synnex Technology International Corp. Taiwan Information Technology 73,050,921 86,844,154
Orion Holdings Corp. South Korea Consumer Staples 5,656,566 86,522,603
Thermax, Ltd. India Industrials 5,310,034 85,162,593
GT Capital Holdings, Inc. Philippines Financials 4,499,704 83,402,520
PT Surya Citra Media Indonesia Communication Services 533,163,200 69,444,236
Genting BHD Malaysia Consumer Discretionary 42,546,775 62,768,544
IHH Healthcare BHD Malaysia Health Care 47,676,300 62,071,070
United Spirits, Ltd. India Consumer Staples 6,778,030 61,671,126
Tasly Pharmaceutical Group Co., Ltd. A Shares China/Hong Kong Health Care 21,587,690 60,473,213
E-Mart, Inc. South Korea Consumer Staples 362,002 59,118,679
Wise Talent Information Technology Co., Ltd. China/Hong Kong Communication Services 15,057,400 55,764,587
S-1 Corp. South Korea Industrials 471,910 42,399,723
PT Mitra Keluarga Karyasehat Indonesia Health Care 383,065,700 41,976,268
Green Cross Corp. South Korea Health Care 318,334 38,828,044
Amorepacific Corp. South Korea Consumer Staples 175,449 33,011,728
PT Telekomunikasi Indonesia Persero ADR Indonesia Communication Services 1,177,440 30,860,702
Just Dial, Ltd. India Communication Services 3,557,718 25,558,400
iQIYI, Inc. ADR China/Hong Kong Communication Services 1,328,600 19,756,282
IHH Healthcare BHD Malaysia Health Care 11,543,000 15,171,260
Fuyao Glass Industry Group Co., Ltd. A Shares China/Hong Kong Consumer Discretionary 3,589,387 11,951,346
LINE Corp. ADR Japan Communication Services 195,200 6,658,272
Net Cash n.a. 54,011,735


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