Insightful 13F filing update reveals strategic portfolio alignment
Matthews Emerging Markets Small Companies Fund (Trade, Portfolio), known for its strategic investments in Asia’s fast-growing small-cap markets, has revealed its N-PORT filing for Q4 2023. The fund is bottom-up driven and its fundamental investment philosophy focuses on long-term growth by investing in high-potential small and medium-sized enterprises. With a history of investing in Asia since 1991, the Matthews Asia Small and Medium Enterprise Fund leverages its extensive experience to identify undervalued companies poised to succeed in evolving Asian markets.
New purchase overview
Matthews Emerging Markets Small Companies Fund (Trade, Portfolio) has expanded its portfolio with new additions.
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WuXi XDC Cayman Inc (HKSE:02268) stood out as the new buy, with the fund buying 7,000 shares worth HK$28.69 million.
Key position rises
The fund also significantly increased its stake in 24 stocks, with the following notable adjustments:
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CarTrade Tech Ltd (BOM:543333)’s share count increased by a significant 2,477.87% with an additional 660,254 shares bringing the total to 686,900 shares. This move affected his current portfolio by 0.93%, amounting to a total of 58,877,710 euros.
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The second biggest gainer was Grupo SBF SA (BSP:SBFG3), which added an additional 2,046,400 shares for a total of 5,756,300 shares. This adjustment represents his 55.16% increase in the number of shares, totaling R$ 13,913,300.
Outline of sold out
The Fund completely sold one holding in the fourth quarter of 2023.
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AP Memory Technology Corp (TPE:6531) was completely sold, with 188,000 shares liquidated and portfolio impact -0.39%.
Key position decreases
Matthews Emerging Markets Small Companies Fund (Trade, Portfolio) also reduced its positions in 46 stocks. Some of the most significant reductions include:
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Legend Biotech Corp (NASDAQ:LEGN) was reduced by 79,289 shares, decreasing the number of shares by -20.16% and having a portfolio impact of -0.93%. The average price for the quarter was $63.37, with a return of -9.85% over the past three months and -1.26% year-to-date.
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Hugel Inc (XKRX:145020) decreased by -23.66% by 49,280 shares, impacting the portfolio by -0.79%. The average trading price for the quarter was 144,994 yen, and the return over the past three months was 12.27%, and year-to-date, it was up 5.96%.
Portfolio overview
As of Q4 2023, the Matthews Emerging Markets Small and Medium Enterprise Fund (Trade, Portfolio) portfolio consists of 74 stocks. The top holdings include Shriram Finance Ltd (NSE:SHRIRAMFIN) with 6.22%, Bandhan Bank Ltd (BOM:541153) with 5.96%, Full Truck Alliance Co Ltd (NYSE:YMM) with 3.63%, and Legend Biotech Corp (NASDAQ). Contains 3.13% of :LEGN) and 3.05% for YDUQS Participacoes SA (BSP:YDUQ3). Investments are primarily spread across 10 of his 11 industries, demonstrating a diverse and focused approach to value creation in emerging markets.
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