Insightful Portfolio Adjustments Highlight Strategic Asian Market Investments
Matthews Pacific Tiger Fund (Trades, Portfolio), known for its strategic investments in Asia excluding Japan, has recently disclosed its N-PORT filing for the second quarter of 2024. The fund, which started in September 1994, adheres to a rigorous investment philosophy that emphasizes long-term growth by investing in underappreciated companies with robust potential. With a commitment to a bottom-up, fundamental analysis approach, the fund conducts over 2,000 company meetings annually to scout for the best investment opportunities across diverse Asian markets.
New Strategic Acquisitions
During the second quarter of 2024, Matthews Pacific Tiger Fund (Trades, Portfolio) expanded its portfolio by adding 28 new stocks. Noteworthy among these was the significant investment in Axis Bank Ltd (BOM:532215, Financial), acquiring 2,016,218 shares which now constitute 2.74% of the portfolio, valued at ₹30,555.42 million. Other major additions included Reliance Industries Ltd (NSE:RELIANCE, Financial) with 623,599 shares, and Hon Hai Precision Industry Co Ltd (TPE:2317, Financial) with 3,528,000 shares, representing 2.09% and 2.08% of the portfolio respectively.
Key Position Increases
The fund also strategically increased its holdings in several key stocks. The most notable increase was in Unimicron Technology Corp (TPE:3037, Financial), where the fund boosted its stake by 1,326,000 shares, resulting in a total holding of 2,002,000 shares. This adjustment marked a significant 196.15% increase in share count, impacting 0.66% of the current portfolio, valued at NT$11,076.33 million. Another significant increase was in Power Grid Corp Of India Ltd (BOM:532898, Financial), with an additional 1,429,361 shares, bringing the total to 4,842,473 shares.
Complete Portfolio Exits
In a strategic move, Matthews Pacific Tiger Fund (Trades, Portfolio) exited its positions in 28 stocks. Notable exits include China Resources Beer (Holdings) Co Ltd (HKSE:00291, Financial) and Tata Motors Ltd (NSE:TATAMOTORS, Financial), where the fund sold all its holdings, impacting the portfolio by -2.18% and -1.73% respectively.
Significant Reductions in Holdings
The fund also reduced its positions in several companies. A major reduction was seen in Taiwan Semiconductor Manufacturing Co Ltd (TPE:2330, Financial), with a sale of 1,142,000 shares, decreasing the stake by 20.8% and impacting the portfolio by -2.1%. Cummins India Ltd (BOM:500480, Financial) also saw a reduction of 431,287 shares, a 57.85% decrease, impacting the portfolio by -1.19%.
Portfolio Overview and Sector Allocation
As of the second quarter of 2024, Matthews Pacific Tiger Fund (Trades, Portfolio)'s portfolio comprised 73 stocks. The top holdings included significant stakes in major companies such as Taiwan Semiconductor Manufacturing Co Ltd, Tencent Holdings Ltd, and Samsung Electronics Co Ltd. The fund's investments are primarily concentrated across 11 industries, with significant exposure in Technology, Financial Services, and Consumer Cyclical sectors.
This detailed portfolio adjustment reflects Matthews Pacific Tiger Fund (Trades, Portfolio)'s continued focus on tapping into the growth potential of Asian markets through a meticulous investment strategy. The fund's moves provide valuable insights for investors looking to understand market trends and identify investment opportunities in Asia.
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.
