Insights into the Latest Portfolio Adjustments and Strategic Decisions
Matthews Pacific Tiger Fund (Trades, Portfolio), known for its strategic investments in Asia excluding Japan, has recently disclosed its N-PORT filing for the first quarter of 2024. The fund, which started in September 1994, adheres to a bottom-up, fundamental investment philosophy, focusing on long-term performance. It primarily invests in companies that are poised to benefit from Asia's economic evolution, emphasizing those with underrecognized potential. With over 2,000 company meetings annually, the fund's research-intensive approach highlights its commitment to uncovering sustainable growth opportunities in the region.
Summary of New Buys
During the first quarter of 2024, Matthews Pacific Tiger Fund (Trades, Portfolio) expanded its portfolio by adding 46 new stocks. Noteworthy additions include:
- SK Hynix Inc (XKRX:000660, Financial), purchasing 240,076 shares, making up 2.44% of the portfolio, valued at â‚©31.8 billion.
- Hyundai Motor Co (XKRX:005380, Financial), with 180,357 shares, representing 2.43% of the portfolio, valued at â‚©31.7 billion.
- Cummins India Ltd (BOM:500480, Financial), acquiring 745,589 shares, accounting for 2.06% of the portfolio, valued at ₹269.16 million.
Key Position Increases
The fund also significantly increased its holdings in several stocks, including:
- Meituan (HKSE:03690, Financial), with an additional 1,443,340 shares, bringing the total to 2,910,300 shares. This adjustment increased the portfolio impact by 1.37%, with a total value of HK$35.93 million.
- ASE Technology Holding Co Ltd (TPE:3711, Financial), adding 968,000 shares for a total of 2,420,000 shares, valued at NT$11.75 million.
Summary of Sold Out Positions
The fund exited 24 positions entirely in this quarter, including:
- Central Pattana PCL (BKK:CPN, Financial), selling all 31,962,500 shares, impacting the portfolio by -3.31%.
- Pidilite Industries Ltd (NSE:PIDILITIND, Financial), liquidating 1,546,251 shares, with a -2.57% portfolio impact.
Key Position Reductions
Significant reductions were made in several holdings, notably:
- Samsung Electronics Co Ltd (XKRX:005930, Financial), with a reduction of 1,849,464 shares, decreasing the holding by 63.48% and impacting the portfolio by -5.72%. The stock's performance over the past three months was 1.68%, with a year-to-date return of -4.37%.
- Taiwan Semiconductor Manufacturing Co Ltd (TPE:2330, Financial), reducing the position by 3,632,000 shares, a 39.81% decrease, impacting the portfolio by -3.55%. The stock has returned 15.92% over the past three months and 61.23% year-to-date.
Portfolio Overview
As of the first quarter of 2024, Matthews Pacific Tiger Fund (Trades, Portfolio)'s portfolio comprised 73 stocks. The top holdings included 10.09% in Taiwan Semiconductor Manufacturing Co Ltd (TPE:2330), 4.9% in Samsung Electronics Co Ltd (XKRX:005930), and smaller percentages in other significant assets. The fund's investments span across various industries, reflecting a diversified approach aimed at capitalizing on Asia's dynamic market landscape.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
