Insight into the Fund's Strategic Moves in Q4 2024
Matthews Pacific Tiger Fund (Trades, Portfolio) recently submitted its N-PORT filing for the fourth quarter of 2024, revealing strategic investment decisions made during this period. Established in September 1994, the fund aims to achieve its investment objectives by allocating at least 80% of its net assets in the common and preferred stocks of companies located in Asia, excluding Japan. The fund employs a bottom-up, fundamental investment philosophy with a focus on long-term performance. Matthews believes in active management, emphasizing that many regional indices are backward-looking and not indicative of future success. The firm has been investing in Asia since 1991, leveraging its experience to identify companies poised for growth. Matthews conducts over 2,000 company meetings annually to identify sustainable growth prospects, strong business models, and quality management teams.
Summary of New Buy
Matthews Pacific Tiger Fund (Trades, Portfolio) added a total of 21 stocks, among them:
- The most significant addition was JD.com Inc (HKSE:09618, Financial), with 1,114,650 shares, accounting for 2.37% of the portfolio and a total value of HK$19.35 million.
- The second largest addition to the portfolio was MediaTek Inc (TPE:2454, Financial), consisting of 362,000 shares, representing approximately 1.91% of the portfolio, with a total value of NT$15.56 million.
- The third largest addition was AIA Group Ltd (HKSE:01299, Financial), with 1,945,600 shares, accounting for 1.71% of the portfolio and a total value of HK$13.97 million.
Key Position Increases
Matthews Pacific Tiger Fund (Trades, Portfolio) also increased stakes in a total of 18 stocks, among them:
- The most notable increase was PetroChina Co Ltd (HKSE:00857, Financial), with an additional 17,870,000 shares, bringing the total to 21,146,000 shares. This adjustment represents a significant 545.48% increase in share count, a 1.72% impact on the current portfolio, with a total value of HK$16.54 million.
- The second largest increase was DBS Group Holdings Ltd (SGX:D05, Financial), with an additional 355,800 shares, bringing the total to 806,100. This adjustment represents a significant 79.01% increase in share count, with a total value of S$25.83 million.
Summary of Sold Out
Matthews Pacific Tiger Fund (Trades, Portfolio) completely exited 23 holdings in the fourth quarter of 2024, as detailed below:
- Hong Kong Exchanges and Clearing Ltd (HKSE:00388, Financial): Matthews Pacific Tiger Fund (Trades, Portfolio) sold all 632,500 shares, resulting in a -2.47% impact on the portfolio.
- KE Holdings Inc (BEKE, Financial): Matthews Pacific Tiger Fund (Trades, Portfolio) liquidated all 936,199 shares, causing a -1.78% impact on the portfolio.
Key Position Reduces
Matthews Pacific Tiger Fund (Trades, Portfolio) also reduced positions in 35 stocks. The most significant changes include:
- Reduced Alibaba Group Holding Ltd (HKSE:09988, Financial) by 2,713,200 shares, resulting in a -62.53% decrease in shares and a -3.45% impact on the portfolio. The stock traded at an average price of HK$91.57 during the quarter and has returned 4.55% over the past 3 months and 20.70% year-to-date.
- Reduced Taiwan Semiconductor Manufacturing Co Ltd (TPE:2330, Financial) by 979,000 shares, resulting in a -27.55% reduction in shares and a -2.82% impact on the portfolio. The stock traded at an average price of NT$1,048 during the quarter and has returned 6.04% over the past 3 months and 4.65% year-to-date.
Portfolio Overview
At the fourth quarter of 2024, Matthews Pacific Tiger Fund (Trades, Portfolio)'s portfolio included 75 stocks. The top holdings included 10.27% in Taiwan Semiconductor Manufacturing Co Ltd (TPE:2330), 5.91% in Tencent Holdings Ltd (HKSE:00700, Financial), 3.17% in DBS Group Holdings Ltd (SGX:D05, Financial), 2.71% in ICICI Bank Ltd (NSE:ICICIBANK, Financial), and 2.56% in HDFC Bank Ltd (NSE:HDFCBANK, Financial).
The holdings are mainly concentrated in all 11 industries: Technology, Financial Services, Consumer Cyclical, Communication Services, Industrials, Healthcare, Real Estate, Energy, Utilities, Consumer Defensive, and Basic Materials.
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.
